Stroud Green Christian Assembly
Financial Statement for the year ended 31 December 2020
Registered Charity Number 1159679
Stroud Green Christian Assembly
| Charity Information | |
|---|---|
| Trustees | Anthony Patrick Beasley |
| Philip Richard George Bray | |
| Stuart John Sime | |
| Charity number | 1159679 |
| Correspondence address | 18 Everleigh Street |
| London | |
| N4 3AE | |
| Independent Examiner | Hughan Associates Limited |
| Chartered Certified Accountants | |
| 33 Hughan Road | |
| London | |
| E15 1LS | |
| Bankers | Lloyds Bank plc |
| 1 Silver Street | |
| Enfield | |
| EN1 3EE | |
| Barclays Bank plc | |
| Muswell Hill Branch | |
| Leicester | |
| LE87 2BB |
Stroud Green Christian Assembly
Contents
| Page | |
|---|---|
| Trustees' Annual Report | 1 - 3 |
| Statement of Trustees' Responsibilities | 4 |
| Independent Examiner's Report | 5 - 6 |
| Statement of Financial Activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 11 |
Stroud Green Christian Assembly
Trustees' Annual Report for the year ended 31 December 2020
The trustees present their report and the financial statements of Stroud Green Christian Assembly for the year ended 31 December 2020. The financial statements have been prepared in accordance with the Charities Statement of Recommended Practice (Charities SORP (FRS 102)) and the Financial Reporting Standard 102 (FRS 102). The financial Statements are drawn up on the historical cost basis of accounting.
Structure, governance, and management
Stroud Green Christian Assembly is a registered charity (Number 1159679). The church's Constitution and the Memorandum of Practices and Beliefs detail the management and governance of the church. The governing body of the church is the board of trustees, comprising three members. The duties of the trustees are to govern and manage the daily running of the church and to ensure compliance to the legislation of the United Kingdom. The trustees meet quarterly to discuss matters arising from the day to day running of the church. In regard to spiritual matters, the pastor and elders provide guidance and advice as may be necessary from time to time.
Objectives and Activities
The Charity's objects are:
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To advance the Christian faith in accordance with the Membership Fundamentals.
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To advance the Christian religion by means of broadcasting Christian messages of an evangelistic and teaching nature.
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To advance the Christian religion by engaging with diverse members of the public either local or where the occasion dictates nationwide and globally in the propagation of the Christian faith and the establishment of their ongoing wellbeing such that they are themselves able to make their own various contributions to society.
During the year ended 31 December 2020, the Church;
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Held a busy programme of public worship services and activities open to all members of the public to provide for the spiritual needs of the local community. On average there were five public meetings each week, which transitioned to Zoom for periods of the pandemic and served a growing number of the public.
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Continued to focus on teaching the Bible, promoting prayer and fellowship and caring pastorally for the members. In order to do so the church pays a small stipend to the Pastor to enable him to focus on this important work, without a requirement to have full-time paid employment. This stipend is reviewed annually and was maintained this past year.
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Made all sermons and other teaching material freely available on the Internet for wider public benefit.
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- Continued to serve the community by providing two Sunday Schools for children, latterly reduced to a fortnightly online meeting due to COVID.
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Conducted weekly street community work to bring the wider community into contact with the Christian message, and the work of the Charity.
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Continued to maintain the building to enhance its utility to the public to ensure its ongoing compliance to legislation, and to run the building as cost-effectively as possibly.
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Offered all local activities entirely free, making no collection. The costs are funded through voluntary donations of the church. Residential conference fees are subsidised by the church, although this year the residential conferences did not occur due to COVID.
Page 1
Stroud Green Christian Assembly
Trustees' Annual Report for the year ended 31 December 2020
.................... continued
Achievements and Performance
The trustees confirm that they have complied with the duty in section 17(5) of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission and, in particular, the specific guidance on charities for the advancement of religion, specifically that the benefit must be identifiable and must be to the general public.
The church has developed as an active local church in accordance with its objectives. It continues to be recognised as a place where loving and wholesome Biblical teaching can be found, and where individuals can find their spiritual needs freely met. A number of new members have joined over the year, and the ministry of the Charity has reached a large number of people, both in the local area and across the world.
The number of public meetings has been maintained, and has also been matched by a corresponding increase of public events held outside the church and its expanding online ministry, ensuring it remains freely accessible, to the largest number of people. As the church has moved online during COVID attendance has expanded and the church has reached many new people; both churched and un-churched leading to a decision to maintain a mix of online and in-person local services and maintain its accessibility.
Financial review
The Church's finances are in a satisfactory position although the accounts finished with a deficit before interest of £3,275, with an income of £29,035 and expenditure of £32,310. This compares to an income of £36,881 in 2019. The Assembly continues to be dependent on donations made by the Church members and other donors, which for the year ended 31 December 2020 totalled £25,172, a decrease of £7,640 compared to the last financial year. This is mainly due to a reduction in cash offerings while the church moved online during the COVID lockdowns. Despite this the closing bank and cash balances as at 31 December 2020 were £36,255 compared to £38,121 in the previous year, which remains well within tolerance of the Trustees' reserves policy, and follows a surplus of £4,095 in 2019. At the end of the financial year the Charity was awaiting receipt of £3,863 relating to its gift aid claim for 2020, broadly similar to the amount claimed in 2019.
The Treasurer is thanked for her thorough work.
Reserves policy
The Trustees decided that a reserve would be retained of £16,000 equivalent to 6 months' current operating costs, excluding repairs and maintenance costs incurred during the year. As the total funds held are in excess of £43,600 at the balance sheet date, it was decided that the Reserve would not be placed in separate account.
Volunteers
The work is sustained by the good will of the members who give of their time, skills, and money so willingly to enable this ministry to continue.
Administrative Information
Pastor Roger Winter-Smith
Page 2
Stroud Green Christian Assembly
Trustees' Annual Report for the year ended 31 December 2020
.................... continued
Trustees Anthony Patrick Beasley Philip Richard George Bray Stuart John Sime Treasurer Wendy Sime Correspondence address 18 Everleigh Street London N4 3AE Independent Examiner Hughan Associates Limited Chartered Certified Accountants 33 Hughan Road London E15 1LS
Signed on behalf of the trustees on 25 September 2021;
Philip Bray
Page 3
Stroud Green Christian Assembly
Statement of Trustees' Responsibilities
The law relating to charities requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity for that period. In preparing those financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business;
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the trustees on 25 September 2021;
Philip Bray
Page 4
Stroud Green Christian Assembly
Independent examiner's report on the unaudited financial statements to the trustees of Stroud Green Christian Assembly
I report on the financial statements for the year ended 31 December 2020 as set out on pages 7 to 11.
Respective Responsibilities of the Trustees and Examiner
The charity's trustees consider that an audit is not required for the year (under section 144(2) of the Charities Act 2011 (the Act)) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts (under section 145 of the Act),
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to follow procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the Act),and
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to state whether particular matters have come to my attention.
Basis of Independent Examiner's Report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit. Consequently, no opinion is given as to whether the accounts present a 'true and fair' view and the report is limited to those matters set out in the statement below.
Independent Examiner's statement
In the course of my examination, I confirm no matter has come to my attention in connection with the examination giving me cause to believe that in any material respect:
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a) accounting records were not kept in respect of the Assembly as required by section 130 of the Act; or b) the accounts do not accord with those records; or
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c) the accounts do not comply with the applicable requirements concerning the format and contents of the accounts set out in the Charities (Accounts and Report) Regulations 2008; or
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d) the accounts have not been prepared in accordance with the methods and principles of Accounting and Reporting by Charities; Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the United Kingdom (FRS 102).
Page 5
Stroud Green Christian Assembly
Independent examiner's report on the unaudited financial statements to the trustees of Stroud Green Christian Assembly
......................continued
I also confirm that I have not come across any other matters in connection with the examiniation to which attention should be drawn in this report in order to enable proper understanding of the accounts to be reached.
Antony N H Liang FCCA, ACMA Hughan Associates Limited Chartered Certified Accountants 33 Hughan Road London E15 1LS
Date: 25 September 2021
Page 6
Stroud Green Christian Assembly
Statement of Financial Activities for the year ended 31 December 2020
| Notes Incoming Resources Offering - General Offering - Building fund Taxation recovered on offering Outgoing Resources Church direct costs Staff and support costs Premises and equipment costs Motor and travelling costs General administration costs Other (Deficit)/surplus on ordinary activities before interest Other interest receivable and similar income (Deficit)/surplus on ordinary activities before transfers Transfers between funds 3 (Deficit)/surplus for the year Total funds brought forward Total funds carried forward |
2020 £ 25,172 - 3,863 29,035 ) (1,587 ) (22,200 ) (3,105 ) (1,060 ) (974 ) (3,384 ) (3,275 9 ) (3,266 - ) (3,266 46,311 43,045 |
2019 £ 32,812 126 3,943 36,881 ) (3,424 ) (21,797 ) (4,302 ) (1,122 ) (840 ) (1,327 4,069 26 4,095 - 4,095 42,216 46,311 |
|---|---|---|
The notes on pages 9 to 11 form an integral part of these financial statements.
Page 7
Stroud Green Christian Assembly
Balance sheet as at 31 December 2020
| Notes Fixed assets Tangible assets 4 Current assets Debtors 5 Cash at bank and in hand 3 Creditors: amounts falling due within one year 6 Net current assets Total assets less current liabilities Net assets Funds and reserves Unrestricted funds 7 Restricted funds 7 Members' funds |
2020 £ 3,863 36,255 40,118 ) (100 |
£ 3,027 40,018 43,045 43,045 43,045 - 43,045 |
2019 £ 4,407 38,121 42,528 - |
£ 3,783 42,528 |
|---|---|---|---|---|
| 46,311 | ||||
| 46,311 | ||||
| 46,311 - |
||||
| 46,311 |
These accounts were approved by the trustees on 25 September 2021, and are signed on their behalf by:
Philip Bray Trustee
Charity number 1159679
The notes on pages 9 to 11 form an integral part of these financial statements.
Page 8
Stroud Green Christian Assembly
Notes to the financial statements for the year ended 31 December 2020
1. Accounting policies
1.1. Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2. Income
Income comprises donations and fundraising, which is included in full for the period when, received.
This includes if applicable donations of goods and services 'in kind' to the extent that they represent goods or services that would otherwise have to be purchased.
1.3. Tangible fixed assets and depreciation
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Fixtures, fittings - and equipment 20% Reducing Balance
1.4. Unrestricted Funds
Unrestricted funds are amounts received for the objects of the Charity, without any conditions attached. Consequently, they are available as general funds.
2. Staff salary
The Minister of the assembly is the only employee of the Charity.
3. Cash at bank and on hand
| Cash at bank Cash in hand |
2020 £ 35,915 340 36,255 |
2019 £ 37,527 594 |
|---|---|---|
| 38,121 |
Page 9
Stroud Green Christian Assembly
Notes to the financial statements for the year ended 31 December 2020
| .................... continued | .................... continued | |||
|---|---|---|---|---|
| Fixtures, | ||||
| 4. | Tangible fixed assets | fittings and | ||
| equipment | Total | |||
| £ | £ | |||
| Cost | ||||
| At 1 January 2020 | 7,008 | 7,008 | ||
| At 31 December 2020 | 7,008 | 7,008 | ||
| Depreciation | ||||
| At 1 January 2020 | 3,225 | 3,225 | ||
| Charge for the year | 756 | 756 | ||
| At 31 December 2020 | 3,981 | 3,981 | ||
| Net book values | ||||
| At 31 December 2020 | 3,027 | 3,027 | ||
| At 31 December 2019 | 3,783 | 3,783 | ||
| 5. | Debtors | 2020 | 2019 | |
| £ | £ | |||
| Other debtors | - | 464 | ||
| Prepayments and accrued income | 3,863 | 3,943 | ||
| 3,863 | 4,407 | |||
| 6. | Creditors: amounts falling due | 2020 | 2019 | |
| within one year | £ | £ | ||
| Accruals and deferred income | 100 | - | ||
| 100 | - |
Page 10
Stroud Green Christian Assembly
Notes to the financial statements for the year ended 31 December 2020
.................... continued
7. Movements in Funds
| Movements in Funds | |||||
|---|---|---|---|---|---|
| General | Building | ||||
| (Unrestricted) | (Restricted) | Total | |||
| £ | £ | £ | |||
| Year ended 31 December 2019 | |||||
| Balance brought forward | 42,216 | - | 42,216 | ||
| Incoming resources and other income | 36,781 | 126 | 36,907 | ||
| Outgoing resources | (32,612 | ) | ) (200 |
(32,812 | ) |
| 46,385 | ) (74 |
46,311 | |||
| Transfer between funds | (74 | ) | 74 | - | |
| Year ended 31 December 2020 | |||||
| Balance brought forward | 46,311 | - | 46,311 | ||
| Incoming resources and other income | 29,044 | - | 29,044 | ||
| Outgoing resources | (32,310 | ) | - | (32,310 | ) |
| 43,045 | - | 43,045 | |||
| Transfer between funds | - | - | - | ||
| Balance carried forward | 43,045 | - | 43,045 |
Page 11
Stroud Green Christian Assembly
The following pages do not form part of the statutory accounts.
Stroud Green Christian Assembly
Schedules to the Statement of Financial Activities for the year ended 31 December 2020
| Church direct costs Church conference Missions and ministry work Books Staff and support Minister's salary and NIC Premises and equipment Premises Property repairs and maintenance Equipment maintenance Motor and travelling costs Motoring costs Travelling expenses General administration costs Telephone and internet Subscriptions and licenses Other Sundry Depreciation of fixtures, fittings and equipment |
2020 £ - 780 807 1,587 22,200 22,200 2,965 - 140 3,105 1,060 - 1,060 437 537 974 2,628 756 3,384 |
2019 £ 2,629 530 265 |
|---|---|---|
| 3,424 | ||
| 21,797 | ||
| 21,797 | ||
| 4,013 200 89 |
||
| 4,302 | ||
| 1,040 82 |
||
| 1,122 | ||
| 354 486 |
||
| 840 | ||
| 382 945 |
||
| 1,327 |