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2021-03-31-accounts

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021

NEW UNITY

(Charitable Incorporated Organisation)

CHARITY REGISTRATION No: 1161363

Independent Examiners Ltd

2 Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF

1

NEW UNITY

(Charitable Incorporated Organisation)

CONTENTS

Page 3 Legal and Administrative Information Page 4 Independent Examiner's Report to the Trustees Pages 5 Trustees' Report Page 6 Statement of Financial Activities Page 7 Balance Sheet Pages 8 to 14 Notes to the Financial Statements

2

NEW UNITY

(Charitable Incorporated Organisation)

LEGAL AND ADMINISTRATIVE INFORMATION

CHARITY NUMBER 1161363 DATE OF REGISTRATION 21st April 2015 START OF FINANCIAL YEAR 1st April 2020 END OF FINANCIAL YEAR 31st March 2021 TRUSTEES AS AT 31ST MARCH 2021 John Bates (Chairman) Jenn Flandro Laurence Thomas Franck Bordese Raúl Leal Ascencio Blake Murphy (appointed 15th July 2020) Julio Torres Jr (appointed 15th July 2020) Kent DePinto (resigned 12th July 2020) Grace Graham (resigned 12th July 2020) LEGAL STATUS Charitable Incorporated Organisation GOVERNING INSTRUMENT CIO - Association Registered 21st April 2015

OBJECTS

The advancement of Religion in accordance with the usage and practices of the Unitarian Movement.

CORRESPONDENCE ADDRESS New Unity 277a Upper Street London N1 2TZ PRIMARY BANKERS CAF Bank Ltd West Mailing Kent ME19 4TA INDEPENDENT EXAMINERS Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF

3

NEW UNITY

(Charitable Incorporated Organisation)

INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS

Report to the trustees/members of New Unity CIO on the accounts for the year ended 31st March 2021 set out on pages 8 to 14.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner’s statement

My examination was carried out in accordance with 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 the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and 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 connection with my examination, no matter has come to my attention:

  1. which gives me reasonable cause to believe that in, any material respect, the requirements:

  2. to keep accounting records in accordance with section 130 of the Charities Act; and

  3. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act

have not been met; or

  1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Andrew Alli ACMA

Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF Date: 5th July, 2021

Type text here

4

NEW UNITY

(Charitable Incorporated Organisation)

TRUSTEES REPORT

FOR THE YEAR ENDED 31ST MARCH 2021

This was the Sixth year of our existence as a standalone Charity and integrated congregation as New Unity, building on our three centuries old tradition of radical dissent and spiritual enquiry.

While the Covid 19 Pandemic has made this a very challenging year for everyone, New Unity was particularly hard hit financially with the loss of over 80% of our normal rental income, leading to a necessary cut back in activities. We received no Government support. However, due to the ingenuity of our Minister and the extra financial support of £60,000 generously donated by members of the Congregation we have maintained a vibrant on line community and retained adequate reserves to begin reopening our physical spaces from June 2021 with a full programme of activities.

I would like to thank all New Unity executive committee members and trustees who have served during this difficult year (Laurence Thomas, Franck Bordese, Raul Leal, Jenn Flandro, Blake Murphy and Julio Torres) particularly to Jenn for acting as Secretary and Franck for his work as Treasurer. Franck had to take on a lot of extra responsibility in dealing with our Insurance claim for lost income which we hope will be resolved soon.

Our building project to refurbish and extend our Meeting House at Newington Green, funded with a grant of £1.8m from the National Lottery Heritage Fund (NLHF) and others is now complete and our Programme Manager for the associated activity plan, Amy Todd, has done a superb job in delivering innovative activities and engagement events, building on the history of rational dissent and spiritual enquiry that is embodied in the Newington Green Meeting House and its roots in the English ‘enlightenment’, to provide educational and cultural activities to local and national communities.

All New Unity’s activities are underpinned by pledges and donations from members who generously provided over £100,000 (including Gift Aid) in the year. This core unrestricted funding is vital to our ability to deliver on New Unity’s mission of love and justice that is central to our purpose. Thank you.

Finally, a great deal of thanks is due to our Minister, Andy Pakula, for his service, his commitment, his energy and his care. We are indeed fortunate to be the place where he has chosen to build his ministry and we look forward to reinforcing our mutual commitment next year and beyond.

Trustees' Responsibilities

The Charities Act 2011 require the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the CIO and of the surplus of the CIO for that period. In preparing those financial statements the trustees are required to:

The trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the CIO. They are also responsible for safeguarding the assets of the CIO and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Finally, a great deal of thanks is due to our Minister, Andy Pakula; for his service, his commitment, his energy and his care. We are indeed fortunate to be the place where he has chosen to build his ministry and we look forward to reinforcing our mutual commitment next year and beyond.

Approved by the Trustees on ….......... July 2021 and signed on their behalf by: ….......................................................... …5th

Chair of Trustees, John Bates

5

NEW UNITY

(Charitable Incorporated Organisation)

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31ST MARCH 2021

Notes
INCOMING RESOURCES
Incoming Resources from Generated Funds
Donations & Legacies
4a
Activities for Generating Funds
4b
Investment Income
4c
Charitable Activities
4d
Other Incoming Resources
4e
TOTAL INCOMING RESOURCES
RESOURCES EXPENDED
Costs of Generating Funds
Activities for Generating Funds
5a
Charitable Activities
5b
Governance Costs
5c
TOTAL RESOURCES EXPENDED
NET INCOMING (OUTGOING) RESOURCES
Unrealised Gains & Losses on Investments
3
Total Funds Brought Forward
Transfer Between Funds
6
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2020/21
2019/20
£
£
£
£
113,967
262,741
376,708
1,402,604
31,440
-
31,440
95,155
-
-
-
-
198
285
483
4,975
853
-
853
17,249
146,457
263,026
409,484
1,519,983
119
-
119
140
95,432
240,809
336,241
1,538,985
2,032
-
2,032
7,243
97,583
240,809
338,392
1,546,368
48,875
22,217
71,092
(26,385)
32,799
-
32,799
(26,616)
3,191,121
16,676
3,207,797
3,291,221
-
(30,423)
3,272,795
38,893
3,311,689
3,207,797

Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.

The notes on pages 8 to 14 form part of these financial statements.

6

NEW UNITY

(Charitable Incorporated Organisation)

BALANCE SHEET AS AT 31ST MARCH 2021

Note
Fixed Assets
Tangible Assets
2
Investments
3
Total Fixed Assets
Current Assets
Debtors & Prepayments
9
Cash at Bank and in Hand
8
Total Current Assets
10
NET CURRENT ASSETS
TOTAL ASSETSless current liabilities
11
NET ASSETS
Funds of the Charity
General Funds
Restricted Funds
6
Investments
Capital
Total Funds
Creditors:amounts falling
due in more than one year
Creditors: amounts falling due within one
year		 Unrestricted
Restricted
31-Mar-21
31-Mar-20
Funds
Funds
Total
Total
£
£
£
£
3,076,339
16,676
3,093,015
3,093,015
105,192
-
105,192
72,393
3,181,531
16,676
3,198,207
3,165,408
20,397
-
20,397
3,050
98,346
22,217
120,564
96,385
118,743
22,217
140,960
99,435
27,479
-
27,479
57,046
91,264
22,217
113,481
42,389
3,272,795
38,893
3,311,689
3,207,797
-
-
-
-
3,272,795
38,893
3,311,689
3,207,797
91,264
91,264
42,389
-
22,217
22,217
16,676
105,192
105,192
72,393
3,076,339
16,676
3,093,015
3,076,339
3,272,795
38,893
3,311,689
3,207,797

5th July 2021

Approved by the Trustees on ……………………………………………………………………………………………………………………………………………………………

Signed on their behalf by Trustee …………………………………………………………………………………………………………………………………………………… Printed Name: John Bates

7

NEW UNITY

(Charitable Incorporated Organisation)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021

1. ACCOUNTING POLICIES

Basis of Preparation & Assessment of Going Concern

Basis of Preparation

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2011.

The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.

Assessment of Going Concern

Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.

Incoming Resources

Recognition of Incoming Resources

These are included in the Statement of Financial Activities (SOFA) when:

▪ the charity becomes entitled to the resources;

▪ the monetary value can be measured with sufficient reliability

Incoming Resources with Related Expenditure

Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.

Grants and Donations

Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.

Tax Reclaims on Donations and Gifts

Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.

Contractual Income and Performance Related Grants

This is only included in the SOFA once the related goods or services has been delivered.

Gifts in Kind

Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.

Donated Services and Facilities

These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.

Volunteer Help

The value of any voluntary help received is not included in the accounts.

Investment Income

This is included in the accounts when receivable.

Investment Gains and Losses

This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.

8

NEW UNITY

(Charitable Incorporated Organisation)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2021

1. ACCOUNTING POLICIES (continued)

Expenditure and Liabilities

Liability Recognition

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.

Governance Costs

Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advise to trustees on governance or constitutional matters.

Grants with Performance Conditions

Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.

Grants Payable without Performance Conditions

These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.

Support Costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of the resources, eg allocating property costs by floor areas, or per capital employed, staff costs by the time spent and other costs by their usage.

Investments

Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.

Pensions

Pension contributions are charged to the Statement of Financial Activities as they become payable.

Unrestricted Funds

These funds can be used for the general objectives of the charity as set out in the trustees report. The movements of the unrestricted funds are given in the Statement of Financial Activities.

Restricted Funds

These funds are where the donor has specified a purpose for the donation made. These restrictions often arise as a result of the regular appeals for special offerings made at the Sunday fellowship meetings.

Designated Funds

These funds are funds set aside by the trustees out of unrestricted general funds for specific purposes or projects.

Fixed Assets

Fixed Assets are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt.

Depreciation Expense

No amortisation is charged to freehold property as the property is maintained to such a standard that the estimated residual value is not less than cost. No calculations for depreciation have been made on fixed assets as they have a lengthy duration of usefulness and will be written off at the time of disposal.

Land & Buildings

Land and Buildings have been valued and included within the accounts at cost value as at the 31st March 2016 in accordance with FRS 102 - Previous revaluation as deemed cost.

9

NEW UNITY

(Charitable Incorporated Organisation)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2021

2. TANGIBLE FIXED ASSETS

Cost
01-Apr-19
Additions
Cost Value at
31-Mar-20
Depreciation
01-Apr-19
Charge
Depreciation at
31-Mar-20
Net Book Value
31-Mar-20
Net Book Value
31-Mar-19		 Newington
Land &
Unity
Newington Green
Fixtures
Green
School
Unitarian
2nd Floor Flat
Fittings &
2020/21
Church
Hall
Church
1 Church Walk
Equipment
Total
£
£
£
£
£
£
1,543,692
707,757
673,228
151,662
16,676
3,093,015
-
-
-
-
Land & Buildings
1,543,692
707,757
673,228
151,662
16,676
3,093,015
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
1,543,692
707,757
673,228
151,662
16,676
3,093,015
1,543,692
707,757
673,228
151,662
16,676
3,093,015

The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31st March 2021 : None 31st March 2020 : None

3. INVESTMENTS

Market Value at
01-Apr-20
Additions
Disposals
Unrealised Gains/Losses
Market Value at
31-Mar-21		 M&G
Investment
2020/21
2019/20
Charifund
TOTAL
TOTAL
£
£
£
72,393
72,393
99,009
-
-
-
-
-
-
32,799
32,799
(26,616)
105,192
105,192
72,393

The Charity holds an investment with M&G Investments holding 399.176 units at a cost of £263.52 per unit giving an investment market value as at the 31st March 2021 of £105,192.25

10

NEW UNITY

(Charitable Incorporated Organisation)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2021

4. INCOMING RESOURCES

Note
a) Donations & Legacies
Gifts, Tithes & Offerings
Gift Aid Tax Recovered
Grants (excluding Government)
Grants (Government)
7
b) Activities for Generating Funds
Rental Income
c) Investment Income
Interest Received
d) Charitable Activities
Activities & Events
e) Other Incoming Resources
Sundry Income		 Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2020/21
2019/20
£
£
£
£
95,431
4,400
99,831
67,775
12,139
2,502
14,641
7,032
1,500
255,839
257,340
1,327,798
4,896
-
4,896
-
113,967
262,741
376,708
1,402,604
31,440
-
31,440
95,155
31,440
-
31,440
95,155
-
-
-
-
-
-
-
-
198
285
483
4,975
198
285
483
4,975
853
853
17,249
853
-
853
17,249

11

NEW UNITY

(Charitable Incorporated Organisation)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2021

5. RESOURCES EXPENDED

Note
a) Activities for Generating Funds
Fundraising Costs
b) Charitable Activities
Activities & Projects Costs
Advertising & Publicity
Bank Charges
Bad Debts (Pledges)
Contractors Costs
Equipment Costs
I.T Costs
Insurance Costs
Licenses & Subscriptions
Minister's Accommodation Costs
Music Costs
Office Costs
Pension Costs
12
Pulpit & Worship Costs
Recruitments Costs
Rental Costs
Repairs & Maintenance
Salaries & Wages
12
Sundry Costs
Telephone Costs
Training Costs
Travel & Subsistence
Utility Costs
`
c) Governance Costs
Independent Examiner's Fee
10
Legal & Professional Fees		 Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2020/21
2019/20
£
£
£
£
119
-
119
140
119
-
119
140
65
-
65
18,886
429
1,258
1,687
2,563
152
152
146
3,731
3,731
-
25,063
188,707
213,771
1,363,674
-
6,094
6,094
5,277
5,127
1,561
6,688
1,846
5,313
557
5,870
7,670
791
-
791
692
1,892
-
1,892
1,821
-
100
100
319
37
677
715
2,871
4,709
-
4,709
3,815
98
-
98
918
20
118
138
834
-
-
-
10,359
3,347
1,114
4,462
28,584
31,510
33,741
65,251
60,272
2,065
2,857
4,922
5,569
1,156
1,444
2,601
4,553
191
322
513
4,141
-
58
58
2,251
9,734
2,200
11,934
11,925
95,432
240,809
336,241
1,538,985
1,596
-
1,596
1,200
436
-
436
6,043
2,032
-
2,032
7,243

12

NEW UNITY

(Charitable Incorporated Organisation)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2021

6. FUNDS

Balance
Balance
01-Apr-20
Income
Expenditure
Investment
Transfers
31-Mar-21
£
£
£
£
£
£
Heritage Lottery Project (HLP)
16,676
263,026
240,809
-
-
38,893
General Fund
3,191,121
146,457
97,583
32,799
-
3,272,795
3,207,797
409,484
338,392
32,799
-
3,311,688
7. GOVERNMENT GRANTS RECEIVED
Unrestricted
Restricted
TOTAL
TOTAL
Note
Funds
Funds
2020/21
2019/20
£
£
£
£
HMRC (Job Retention Scheme)
4,896
-
4,896
-
4,896
-
4,896
-
8. CASH AT BANK AND IN HAND
Unrestricted
Restricted
Total
Total
Fund
Fund
31-Mar-21
31-Mar-20
£
£
£
£
Cash at Bank & in Hand
98,346
22,217
120,564
96,385
98,346
22,217
120,564
96,385
9. DEBTORS AND PREPAYMENTS
Unrestricted
Restricted
Total
Total
Fund
Fund
31-Mar-21
31-Mar-20
£
£
£
£
Sundry Debtors
20,397
-
20,397
3,050
Gift Aid Tax Recoverable
-
-
-
-
20,397
-
20,397
3,050
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Unrestricted
Restricted
Total
Total
Fund
Fund
31-Mar-21
31-Mar-20
£
£
£
£
Rental Deposits
8,972
-
8,972
7,272
Sundry Creditors
10,614
-
10,614
48,575
Independent Examiner's Fee
1,596
-
1,596
1,200
Prepayments (Pledges)
6,298
-
6,298
27,479
-
27,479
57,047		 Balance
01-Apr-20
Income
£
£
16,676
263,026
3,191,121
146,457		 Balance
Expenditure
Investment
Transfers
31-Mar-21
£
£
£
£
240,809
-
-
38,893
97,583
32,799
-
3,272,795
3,207,797
409,484		 338,392
32,799
-
3,311,688
Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2020/21
2019/20
£
£
£
£
4,896
-
4,896
-
4,896
-
4,896
-
Unrestricted
Restricted
Total
Total
Fund
Fund
31-Mar-21
31-Mar-20
£
£
£
£
98,346
22,217
120,564
96,385
98,346
22,217
120,564
96,385
Unrestricted
Restricted
Total
Total
Fund
Fund
31-Mar-21
31-Mar-20
£
£
£
£
20,397
-
20,397
3,050
-
-
-
-
20,397
-
20,397
3,050
27,479
-
27,479
57,047

11. CREDITORS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR

The CIO held no long term liabilities during this or the previous financial period.

13

NEW UNITY

(Charitable Incorporated Organisation)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2021

12. STAFF COSTS AND NUMBERS

2020/21
£
Gross Wages & Salaries
63,369
Employer's National Insurance Costs
1,882
Pension Contributions
4,709
69,960
Employees who were engaged in each of the following activities:
2020/21
TOTAL
Activities in furtherance of organisation's objects
2
2		 2019/20
£
58,432
1,839
3,815
64,087
2019/20
TOTAL
2
2

No employees received emoluments in excess £60,000 (2019/20: None)

13. TRUSTEES AND OTHER RELATED PARTIES

No payments were made to trustees or any persons connected with them during this financial period. No material transaction took place between the organisation and a trustee or any person connected with them.

14. RISK ASSESSMENT

The trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.

15. RESERVES POLICY

The trustees have considered the level of reserves they wish to retain, appropriate to the CIO's needs. This is based on the CIO's size and the level of financial commitments held. The trustees aim to ensure the CIO will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The trustees will endeavour not to set aside funds unnecessarily.

16. PUBLIC BENEFIT

The CIO acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the CIO has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the CIO should undertake

14