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2022-03-31-accounts

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022

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 2021 END OF FINANCIAL YEAR 31st March 2022 TRUSTEES AS AT 31ST MARCH 2022 John Bates (Chairman) Jenn Flandro Raúl Leal Ascencio Dr Berenice Guyot-Rechard (appointed 18th July 2021) Malita Munyenyembe (appointed 18th July 2021) Dr Susan Morrison (appointed 18th July 2021) Grace Ann-Marie Graham (appointed 28th February 2022) Blake Murphy (resigned 13th December 2021) Julio Torres Jr (resigned 22nd October 2021) Laurence Thomas (resigned 18th July 2021) Franck Bordese (resigned 16th March 2022) 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 EXAMINER 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

to the trustees of New Unity

I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31st March 2022 which are set out on pages 8 to 14.

Respective responsibilities of trustees and examiner

As the charity’s trustees of New Unity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of New Unity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

Since New Unity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Chartered Institute of Management Accountants, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of New Unity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham ...................................... West Sussex G W Schulz ACMA PO18 8NF

Date: 28th July, 2022

`

4

NEW UNITY

(Charitable Incorporated Organisation)

TRUSTEES REPORT

FOR THE YEAR ENDED 31ST MARCH 2022

This was the Seventh 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 made 2020/21 a very challenging year for everyone, 2021/22 was even more challenging for New Unity as In August 2021 our long serving Minister, Rev Andy Pakula, announced that he would take his full 6 month entitlement to a sabbatical leave returning briefly in May 2022 to be followed by his retirement in June 2022.

I’m delighted to report that the congregation rallied round to take ownership of the Sunday gatherings and created a full programme of messages and speakers to bridge the gap. Huge thanks are due to Raul Leal, Berenice Guyot-Rechard and particularly Adam Slate who stepped in at short notice to manage the process.

In parallel we created a transition team to find our new Minister led by Dr Sue Morrison including Malita Munyenyembe, Raul Leal, Berenice Guyot-Rechard, Luke Tanner, Vick Ryder and ably assisted by Penny Walker and Wendy Sudbury. An open, thorough and inclusive process commenced in October 2021 with several congregational conversations and concluded in April 2022 with the appointment of Rev CJ McGregor who will take up the post in September 2022.

As part of our renewal and regeneration plan, the Trustees appointed Nick Toner as the first general manager for New Unity CIO In January 2022. We are already enormously grateful for the impact Nick is having on the operational efficiency, effectiveness and financial health of New Unity.

I would like to thank all New Unity executive committee members and trustees who have served during this difficult year, Franck Bordese, Raul Leal, Jenn Flandro, Sue Morrison, Malita Munyenyembe, Berenice Guyot-Rechard and Grace Graham particularly to Franck and Jenn who will be stepping down this year after completing terms of office as will I.

All New Unity’s activities are underpinned by pledges and donations from members who generously provided over £60,000 (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 we thank Rev Andy Pakula for his 15 years of service and look forward to welcoming Rev CJ McGregor as our new Minister in September 2022 to open the next chapter in our story.

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.

Approved by the Trustees on ….......... July 2022 and signed on their behalf by: ….......................................................... …6th

Chair of Trustees, John Bates

5

NEW UNITY

(Charitable Incorporated Organisation)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2022

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
Realised/Unrealised Gains on Investments
3
Unrealised Gains on Revaluation of Assets
2
Total Funds Brought Forward as Previously Reported
Prior Year Adjustment
Total Funds Brought Forward as Restated
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2021/22
2020/21
(restated)
£
£
£
£
67,168
137,442
204,610
376,708
67,625
-
67,625
31,440
-
-
-
-
74
5,186
5,260
483
240
125
365
853
135,108
142,753
277,860
409,484
-
2,992
2,992
119
199,391
146,090
345,481
397,768
2,491
-
2,491
2,032
201,882
149,082
350,965
399,918
(66,775)
(6,330)
(73,104)
9,565
6,157
-
6,157
32,799
9,250
-
9,250
-
3,272,795
38,893
3,311,689
3,207,797
(61,527)
(61,527)
-
3,211,268
38,893
3,250,162
3,207,797
3,159,900
32,563
3,192,464
3,250,162

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 2022

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
Total Funds
Creditors:amounts falling due
in more than one year
Creditors: amounts falling due within one
year		 Unrestricted
Restricted
31-Mar-22
31-Mar-21
Funds
Funds
Total
Total
(restated)
£
£
£
£
2,962,535
16,676
2,979,211
3,031,488
-
-
-
105,192
2,962,535
16,676
2,979,211
3,136,680
38,961
-
38,961
20,397
217,019
15,887
232,906
120,564
255,980
15,887
271,867
140,960
58,614
-
58,614
27,479
197,365
15,887
213,253
113,481
3,159,901
32,563
3,192,464
3,250,162
-
-
-
-
3,159,901
32,563
3,192,464
3,250,162
3,159,900
3,159,900
3,227,945
-
32,563
32,563
22,217
3,159,900
32,563
3,192,464
3,250,162

Approved by the Trustees on ………………………………………………………………………………………………………………………………………………………………6th July 2022

Signed on their behalf by Trustee ………………………………………………………………………………………………………………………………………………………

Printed Name: Alexander John Bates - Chair

7

NEW UNITY

(Charitable Incorporated Organisation)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022

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 trustees are virtually certain they will receive the resources; and

▪ 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 2022

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.

Land & Buildings

Land and Buildings are initially valued and included within the accounts subsequently measured at cost or valuation, net of depreciation.

Depreciation Expense

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold Land and Buildings

2% Straight Line

9

NEW UNITY

(Charitable Incorporated Organisation)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2022

2. TANGIBLE FIXED ASSETS

Cost
01-Apr-21
Additions
Revaluations
Cost Value at
31-Mar-22
Depreciation
01-Apr-21
Charge
Depreciation at
31-Mar-22
Net Book Value
31-Mar-22
Net Book Value
31-Mar-21		 Newington
Land &
Unity
Newington Green
Fixtures
Green
School
Unitarian
2nd Floor Flat
Fittings &
2021/22
Church
Hall
Church
1 Church Walk
Equipment
Total
£
£
£
£
£
£
1,543,692
707,757
673,228
151,662
16,676
3,093,015
-
-
-
-
-
-
-
-
9,250
Land & Buildings
1,543,692
707,757
673,228
151,662
25,926
3,102,265
30,874
14,155
13,465
3,033
-
61,527
30,874
14,155
13,465
3,033
-
61,527
61,748
28,310
26,929
6,066
-
123,054
1,481,944
679,447
646,299
145,596
25,926
2,979,211
1,512,818
693,602
659,763
148,629
16,676
3,031,488

The annual commitments under non-cancelling operating leases and capital commitments are as follows:

31st March 2022 : None

31st March 2021 : None

Prior year adjustment: Depreciation was omitted from last year’s accounts. This has now been included and last year’s values restated.

3. INVESTMENTS

Market Value at
01-Apr-21
Additions
Disposals
Unrealised Gains/Losses
Realised Gains/Losses
Market Value at
31-Mar-22		 M&G
2021/22
2020/21
Investment
TOTAL
TOTAL
Charifund
£
£
£
105,192
105,192
72,393
-
-
111,349
111,349
-
-
32,799
6,157
6,157
-
-
105,192

The Charity sold an investment with M&G Investments comprising 399.176 units at a sale price of £278.95 per unit giving a realised value as at the 20th December, 2021 of £111,348.99 and now held as cash.

10

NEW UNITY

(Charitable Incorporated Organisation)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2022

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
2021/22
2020/21
£
£
£
£
57,857
693
58,550
99,831
9,311
1,201
10,512
14,641
0
135,548
135,548
257,340
-
-
-
4,896
67,168
137,442
204,610
376,708
67,625
-
67,625
31,440
67,625
-
67,625
31,440
-
-
-
-
-
-
-
-
74
5,186
5,260
483
74
5,186
5,260
483
240
125
365
853
240
125
365
853

11

NEW UNITY

(Charitable Incorporated Organisation)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2022

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
Depreciation
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		 Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2021/22
2020/21
(restated)
£
£
£
£
-
2,992
2,992
119
-
2,992
2,992
119
124
124
65
736
2,232
2,968
1,687
431
103
534
152
5,517
5,517
3,731
41,306
96,403
137,709
213,771
61,527
61,527
61,527
294
3,433
3,726
6,094
4,434
961
5,395
6,688
5,312
5,312
5,870
6,846
144
6,990
791
2,005
2,005
1,892
95
95
100
165
1,694
1,858
715
4,785
4,785
4,709
274
274
98
-
138
1,067
1,067
-
10,382
5,093
15,475
4,462
37,654
34,645
72,299
65,251
1,311
703
2,014
4,922
1,203
1,155
2,358
2,601
120
120
513
-
37
37
58
13,804
(511)
13,293
11,934
199,391
146,090
345,481
397,768
Independent Examiner's Fee
10		 1,680
-
1,680
1,596
Legal & Professional Fees 811
-
811
436
2,491
-
2,491
2,032

12

NEW UNITY

(Charitable Incorporated Organisation)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2022

6. RESTRICTED FUNDS

Heritage Lottery Project (HLP)
Heritage Lottery Project (HLP)		 Balance
01-Apr-21
Income
£
£
38,893
142,753		 Balance
Expenditure
Investment
Transfers
31-Mar-22
£
£
£
£
149,082
-
-
32,563
38,893
142,753		 149,082
-
-
32,563
Balance
01-Apr-20
Income
£
£
16,676
263,026		 Balance
Expenditure
Investment
Transfers
31-Mar-21
£
£
£
£
240,809
-
-
38,893
16,676
263,026		 240,809
-
-
38,893
7. GOVERNMENT GRANTS RECEIVED
Note		 Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2021/22
2020/21
£
£
£
£
HMRC (Job Retention Scheme) -
-
-
4,896
-
-
-
4,896
8. CASH AT BANK AND IN HAND
Unrestricted
Restricted
Total
Total
Fund
Fund
31-Mar-22
31-Mar-21
£
£
£
£
Cash at Bank & in Hand
217,019
15,887
232,906
96,385
217,019
15,887
232,906
120,564
9. DEBTORS AND PREPAYMENTS
Unrestricted
Restricted
Total
Total
Fund
Fund
31-Mar-22
31-Mar-21
£
£
£
£
Sundry Debtors
33,338
-
33,338
20,397
Prepayments
5,623
-
5,623
-
38,961
-
38,961
20,397
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Unrestricted
Restricted
Total
Total
Fund
Fund
31-Mar-22
31-Mar-21
£
£
£
£
Rental Deposits
9,497
-
9,497
8,972
Sundry Creditors
12,634
-
12,634
10,614
Independent Examiner's Fee
1,680
-
1,680
1,596
Prepayments
34,804
-
34,804
6,298
58,614
-
58,614
27,479
-
-
-
4,896
Unrestricted
Restricted
Total
Total
Fund
Fund
31-Mar-22
31-Mar-21
£
£
£
£
217,019
15,887
232,906
96,385
217,019
15,887
232,906
120,564
Unrestricted
Restricted
Total
Total
Fund
Fund
31-Mar-22
31-Mar-21
£
£
£
£
33,338
-
33,338
20,397
5,623
-
5,623
-
38,961
-
38,961
20,397
58,614
-
58,614
27,479

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 2022

12. STAFF COSTS AND NUMBERS

2021/22
£
Gross Wages & Salaries
70,458
Employer's National Insurance Costs
1,841
Pension Contributions
4,785
77,084
Employees who were engaged in each of the following activities:
2021/22
TOTAL
Activities in furtherance of organisation's objects
3
3		 2020/21
£
63,369
1,882
4,709
64,087
2020/21
TOTAL
2
2

No employees received emoluments in excess £60,000 (2020/21: 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