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2021-03-31-accounts

Charity number: 1163394

THE CONGREGACION DE EVANGELICOS DE HABLA ESPANOLA

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

THE CONGREGACION DE EVANGELICOS DE HABLA ESPANOLA

CONTENTS

Page
Reference and Administrative Details of the Charity, its Trustees and Advisers 1
Trustees' Report 2 - 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7 - 15

THE CONGREGACION DE EVANGELICOS DE HABLA ESPANOLA

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2021

Trustees

Juan Morlan Ian Mcleish John Castro Murillo

Charity registered number

1163394

Contact address

Unit 9 Silicon Centre Wadsworth Road Perivale Middlesex UB6 7JD

Accountants

Griffin Stone Moscrop & Co Chartered Accountants 21-27 Lamb's Conduit Street London WC1N 3GS

Page 1

THE CONGREGACION DE EVANGELICOS DE HABLA ESPANOLA

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021

The Trustees present their annual report together with the financial statements of the Charity for the year 1 April 2020 to 31 March 2021. The Trustees confirm that the Annual report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective October 2019).

Objectives and activities

a. Policies and objectives

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, and in particular to its supplementary public benefit guidance on the advancement of religion for the public benefit.

b. Activities undertaken to achieve objectives

Various activities are undertaken to meet the overall objective of the charity, to advance the protestant and envangelical tenants of the Christian faith, including making donations to assist missionaries, the poor and homeless through its Social Fund.

Achievements and performance

a. Main achievements of the Charity

The results for the period are shown in the statement of financial activities.

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

b. Reserves policy

The trustees recognise the need to have a reserves policy and seek to maintain funds at a level to ensure that the charity can continue even if there is a severe downturn in income or major unforeseen revenue expenditure. In practice the minimum reserves to be held in the general fund should equate to 3 months of general fund expenditure and this is the case at the balance sheet date. At 31 March 2021 the general fund had a balance of £21,928 (2020 - £17,281) thus meeting this criteria. In addition approximately £142,954 of designated (but still unrestricted) funds were held in net current assets at 31 March 2021.

Structure, governance and management

a. Constitution

The charity was established and registered as a Charitable Incorporated Organisation on 3 September 2015 to preach the Word of God in the Spanish language, and to advance the Protestant and evangelical tenants of the Christian faith. It inherited the entire activities of its predecessor charity of the same name which was constituted as a charitable trust and had a registered number of 280694. The transfer to the CIO of all activities, assets and liabilities from the unincorporated charity took effect on 1 April 2016.

Page 2

THE CONGREGACION DE EVANGELICOS DE HABLA ESPANOLA

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

Structure, governance and management (continued)

b. Methods of appointment or election of Trustees

New trustees are appointed from time to time by the existing trustees. Recruitment of new trustees focuses on individuals with a long standing knowledge of the charity who have been personally known to the existing trustees for a period of at least one year prior to their appointment.

c. Organisational structure and decision-making policies

The trustees meet formally on a quarterly basis to discuss the affairs of the charity, review financial information and to plan the forthcoming months.

d. Financial risk management

The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales 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 and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. 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.

Approved by order of the members of the board of Trustees and signed on their behalf by:

Juan Morlan

Date: 8 September 2021

Page 3

THE CONGREGACION DE EVANGELICOS DE HABLA ESPANOLA

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2021

Independent Examiner's Report to the Trustees of The Congregacion De Evangelicos De Habla Espanola ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2021.

Responsibilities and Basis of Report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

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

Independent Examiner's Statement

Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no 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 the Charity as required by section 130 of the 2011 Act; or

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

  3. the accounts do not comply with the applicable 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.

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Signed:

Dated: 8 September 2021

Richard Hill

Griffin Stone Moscop and Co 21-27 Lamb's Conduit Street Holborn London WC1N 3GS

Page 4

THE CONGREGACION DE EVANGELICOS DE HABLA ESPANOLA

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

Note
Income from:
Donations and legacies
3
Investments
4
Other income
Total income
Expenditure on:
Charitable activities
5
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2021
£
33,323
182
-
33,505
26,188
26,188
7,317
711,446
7,317
718,763		 Total
funds
2021
£
33,323
182
-
33,505
26,188
26,188
7,317
711,446
7,317
718,763		 Total
funds
2020
£
45,150
1,622
111
46,883
67,171
67,171
(20,288)
731,734
(20,288)
711,446

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 7 to 15 form part of these financial statements.

Page 5

THE CONGREGACION DE EVANGELICOS DE HABLA ESPANOLA

BALANCE SHEET AS AT 31 MARCH 2021

Note
Fixed assets
Tangible assets
7
Current assets
Stocks
8
Debtors
9
Cash at bank and in hand
Creditors: amounts falling due within one
year
10
Net current assets
Total assets less current liabilities
Net assets excluding pension asset
Total net assets
Charity funds
Restricted funds
12
Unrestricted funds
12
Total funds		 350
4,580
160,031
164,961
(1,680)		 2021
£
555,482
555,482
163,281
718,763
718,763
718,763
-
718,763
718,763		 500
5,070
161,377
166,947
(5,857)		 2020
£
550,356
550,356
161,090
711,446
711,446
711,446
-
711,446
711,446

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Juan Morlan

Date: 8 September 2021

The notes on pages 7 to 15 form part of these financial statements.

Page 6

THE CONGREGACION DE EVANGELICOS DE HABLA ESPANOLA

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

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The Congregacion De Evangelicos De Habla Espanola meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

1.2 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

1.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

Page 7

THE CONGREGACION DE EVANGELICOS DE HABLA ESPANOLA

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

1. Accounting policies (continued)

1.4 Tangible fixed assets and depreciation

Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following bases:

Freehold property - depreciation to be charged on a straight line
basis over 50 years once the asset is in use
Church Assets - 10 years straight line

1.5 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

1.6 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.7 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.8 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

1.9 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Page 8

THE CONGREGACION DE EVANGELICOS DE HABLA ESPANOLA

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

1. Accounting policies (continued)

1.10 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

2. General information

The Charity is registered in England with a charity number of 1163394.

3. Income from donations and legacie

Unrestricted
funds
2021
£
Donations
33,323
Total 2020
45,150		 Total
funds
2021
£
33,323
45,150		 Total
funds
2020
£
45,150

4. Investment income

Unrestricted
funds
2021
£
Bank Interest
182
Total 2020
1,622		 Total
funds
2021
£
182
1,622		 Total
funds
2020
£
1,622

Page 9

THE CONGREGACION DE EVANGELICOS DE HABLA ESPANOLA

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

5. Analysis of expenditure on charitable activities

Summary by fund type

Unrestricted
funds
2021
£
Total expenditure on charitable activities
26,188
Total 2020
67,171		 Total
funds
2021
£
26,188
67,171		 Total
funds
2020
£
67,171

Summary by expenditure type

Depreciation
2021
£
Total expenditure on charitable activities
264
Total 2020
264		 Other costs
2021
£
25,924
66,907		 Total
funds
2021
£
26,188
67,171		 Total
funds
2020
£
67,171

6. Analysis of expenditure by activities

Total expenditure on charitable activities
Total 2020		 Activities
undertaken
directly
2021
£
23,634
63,375		 Support
costs
2021
£
2,554
3,796		 Total
funds
2021
£
26,188
67,171		 Total
funds
2020
£
67,171

Page 10

THE CONGREGACION DE EVANGELICOS DE HABLA ESPANOLA

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

6. Analysis of expenditure by activities (continued)

Analysis of direct costs

Staff costs (inc. expenses)
Hire costs
Donations
Rates for new building
Book costs
Other direct charitable expenses
Utility costs incurred whilst new building fit-out is taking place
Meals and canteen
Sunday School
Off site storage
Usher expenses
Total 2021
Total 2020
Analysis of support costs
Depreciation
Management and administration
Postage, printing and stationary
Insurance
Preparation and examination of financial statements
Total 2020		 Activities
2021
£
-
4,200
6,100
10,571
150
290
589
44
166
1,264
260
23,634
63,375
Activities
2021
£
264
172
130
248
1,740
2,554
3,796		 Total
funds
2021
£
-
4,200
6,100
10,571
150
290
589
44
166
1,264
260
23,634
63,375
Total
funds
2021
£
264
172
130
248
1,740
2,554
3,796		 Total
funds
2020
£
314
33,683
9,371
10,274
250
3,211
2,517
1,343
368
2,044
-
63,375
Total
funds
2020
£
264
880
620
362
1,670
3,796

Page 11

THE CONGREGACION DE EVANGELICOS DE HABLA ESPANOLA

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

7. Tangible fixed assets

Cost or valuation
At 1 April 2020
Additions
At 31 March 2021
Depreciation
At 1 April 2020
Charge for the year
At 31 March 2021
Net book value
At 31 March 2021
At 31 March 2020
8.
Stocks
Finished goods and goods for resale
9.
Debtors
Due within one year
Other debtors		 Freehold
property
£
548,491
5,390
553,881
-
-
-
553,881
548,491		 Office
equipment
£
2,640
-
2,640
775
264
1,039
1,601
1,865
2021
£
350
2021
£
4,580
4,580		 Total
£
551,131
5,390
556,521
775
264
1,039
555,482
550,356
2020
£
500
2020
£
5,070
5,070

Page 12

THE CONGREGACION DE EVANGELICOS DE HABLA ESPANOLA

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

10. Creditors: Amounts falling due within one year

Other creditors
Financial instruments
Financial assets
Financial assets measured at fair value through income and expenditure		 2021
£
1,680
2021
£
160,031		 2020
£
5,857
2020
£
161,377

11. Financial instruments

Financial assets measured at fair value through income and expenditure is comprised of cash in bank and in hand.

Page 13

THE CONGREGACION DE EVANGELICOS DE HABLA ESPANOLA

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

12. Statement of funds

Statement of funds - current year

Unrestricted funds
Designated funds
Social fund
Women's Fellowship
Men's Fellowship
Ushers
Building Purchase fund
Building acquisition
General funds
General Funds - all funds
Total Unrestricted funds		 Balance at 1
April 2020
£
(88)
327
122
1,307
144,006
548,491
694,165
17,281
711,446		 Income
£
-
-
-
-
1,370
-
1,370
32,135
33,505		 Expenditure
£
(6,100)
-
-
(260)
-
-
(6,360)
(19,828)
(26,188)		 Transfers
in/out
£
7,660
-
-
-
(5,390)
5,390
7,660
(7,660)
-		 Balance at
31 March
2021
£
1,472
327
122
1,047
139,986
553,881
696,835
21,928
718,763

13. Summary of funds

Summary of funds - current year

Designated funds
General funds		 Balance at 1
April 2020
£
694,165
17,281
711,446		 Income
£
1,370
32,135
33,505		 Expenditure
£
(6,360)
(19,828)
(26,188)		 Transfers
in/out
£
7,660
(7,660)
-		 Balance at
31 March
2021
£
696,835
21,928
718,763

Page 14

THE CONGREGACION DE EVANGELICOS DE HABLA ESPANOLA

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

14. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2021
£
Tangible fixed assets
555,482
Current assets
164,961
Creditors due within one year
(1,680)
Total
718,763		 Total
funds
2021
£
555,482
164,961
(1,680)
718,763

Analysis of net assets between funds - prior year

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2020
£
550,356
166,947
(5,857)
711,446		 Total
funds
2020
£
550,356
166,947
(5,857)
711,446

15. Related party transactions

The trustees of the charity, as a body, are considered the key management personnel of the charity.

Total donations received from the trustees in the period under review amounted to £3,440 (2020 - £3,912).

Page 15