Charity number: 1164915
JUBILEE TRAINING CENTRE
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
JUBILEE TRAINING CENTRE
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 12 |
JUBILEE TRAINING CENTRE
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2022
Trustees Marcel Jung, Trustee (appointed 17 December 2015) Darren Eagles, Trustee (appointed 17 December 2015) Neil Pattison, Trustee (appointed 17 December 2015) Charity registered number 1164915 Principal office 9 Ashford Road Maidstone Kent ME14 5BJ
Page 1
JUBILEE TRAINING CENTRE
TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2022
The Trustees present their annual report together with the financial statements of the Jubilee Training Centre for the 1 September 2021 to 31 August 2022.
The charity also trades under the names School of the Word, Word Studies and Unlock the Bible.
Objectives and activities
l Policies and objectives
The principal objects of the charity are: (a) The advancement of the Christian faith, (b) The relief of persons who are in conditions of need, hardship or distress or who are aged or sick, (c) The advancement of education on the basis of Christian principles; principally in the vicinity of Kent, but extending to national or international where deemed appropriate by the trustees.
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, including the guidance 'Public benefit: running a charity (PB2)'.
l Activities undertaken to achieve objectives
The courses make use of similar tools to achieve their objectives, such as lectures, one-on-one tuition, written assignments, tests and exams, practical evaluations, community projects and training in practical life skills.
School of the Word - Unlock the Bible
This is a part-time course that gives students the opportunity to gain an overview of the Bible and develop the Inductive Study skills through individual reading of the books of the Bible, weekly group lectures, completing study guides / assignments and meeting up one-to-one with course leaders. The course runs from October to July. The programme is designed to allow the Word to challenge the student and build solid biblical foundations in their life in order to grow and mature in their faith.
Achievements and performance
l Review of activities
Due to Covid restrictions, the charity was dormant during the year.
Financial review
l 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.
l Principal funding
Principal funding is obtained via the student fees.
Page 2
JUBILEE TRAINING CENTRE
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
Structure, governance and management
l Constitution
Jubilee Training Centre is a registered charity, number 1164915, and is constituted under a Charitable Incorporated Organisation Foundation constitution whose only voting members are its charity Trustees.
l Methods of appointment or election of Trustees
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Charitable Incorporated Organisation Foundation constitution.
l Organisational structure and decision-making policies
The Trustees would normally meet on a monthly basis as the principal, leaders and volunteers provide the daily staffing and undertake the day-to-day operation of the charity.
l Related party relationships
Marcel Jung is a trustee of the charity and also a director in IT & Accounting Solutions Limited which provide professional accountancy services to the charity.
l 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.
Members' liability
If the CIO is wound up, the members of the CIO have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.
Page 3
JUBILEE TRAINING CENTRE
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
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 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:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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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 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 Charitable Incorporated Organisation Foundation constitution. 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 on 8 September 2022 and signed on their behalf by:
Neil Pattison
Page 4
JUBILEE TRAINING CENTRE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2022
| Note Income from: Donations and legacies 3 Charitable activities 4 Investments 5 Total income Expenditure on: Charitable activities 6 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2022 £ 249 - 3 252 807 807 (555) 12,589 (555) 12,034 |
Total funds 2022 £ 249 - 3 252 807 807 (555) 12,589 (555) 12,034 |
Total funds 2021 £ 60 1,850 1 1,911 6,155 6,155 (4,244) 16,833 (4,244) 12,589 |
|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 7 to 12 form part of these financial statements.
Page 5
JUBILEE TRAINING CENTRE
BALANCE SHEET AS AT 31 AUGUST 2022
| Note Fixed assets Current assets Debtors 9 Cash at bank and in hand Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets Charity funds Restricted funds 11 Unrestricted funds 11 Total funds |
- 12,034 12,034 |
2022 £ - 12,034 12,034 12,034 12,034 - 12,034 12,034 |
170 12,419 12,589 |
2021 £ |
|---|---|---|---|---|
| - 12,589 |
||||
| 12,589 | ||||
| 12,589 | ||||
| 12,589 | ||||
| - 12,589 |
||||
| 12,589 |
The financial statements were approved and authorised for issue by the Trustees on 08 September 2022 and signed on their behalf by:
Neil Pattison
The notes on pages 7 to 12 form part of these financial statements.
Page 6
JUBILEE TRAINING CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
1. General information
Jubilee Training Centre ('the charity') is a Charitable Incorporated Organisation registered with the Charity Commission for England and Wales on 17 December 2015 (charity number 1164915) and domiciled in England. The address of the its registered office is 9 Ashford Road, Maidstone, Kent, ME14 5BJ.
2. Accounting policies
2.1 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 2015), 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 on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Jubilee Training Centre 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.
2.2 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.
2.3 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 is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
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JUBILEE TRAINING CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
2. Accounting policies (continued)
2.4 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.5 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.
2.6 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.
2.7 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.
2.8 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.
Investment income, gains and losses are allocated to the appropriate fund.
3. Income from donations and legacies
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2022 | 2022 | 2021 | |
| £ | £ | £ | |
| Donations | 249 | 249 | 60 |
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JUBILEE TRAINING CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
4. Income from charitable activities
| Income from charitable activities - School of the Word Investment income Unrestricted funds 2022 £ Investment income - local cash 3 |
Total funds 2022 £ - Total funds 2022 £ 3 |
Total funds 2021 £ 1,850 |
|---|---|---|
| Total funds 2021 £ 1 |
5. Investment income
6. Analysis of expenditure on charitable activities
Summary by fund type
| Unrestricted funds 2022 £ Training Centre General 637 School of the Word 170 807 |
Total 2022 £ 637 170 807 |
Total 2021 £ 5,147 1,008 |
|---|---|---|
| 6,155 |
Page 9
JUBILEE TRAINING CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
7. Analysis of expenditure by activities
| Training Centre General School of the Word Training Centre General School of the Word |
Activities undertaken directly 2022 £ - 170 170 Activities undertaken directly 2021 £ 85 1,008 1,093 |
Support costs 2022 £ 637 - 637 Support costs 2021 £ 5,062 - 5,062 |
Total funds 2022 £ 637 170 |
|---|---|---|---|
| 807 | |||
| Total funds 2021 £ 5,147 1,008 |
|||
| 6,155 |
8. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2021 - £NIL) .
During the year ended 31 August 2022, no Trustee expenses have been incurred (2021 - £NIL) .
9. Debtors
| Due within one year Trade debtors |
2022 £ - - |
2021 £ 170 |
|---|---|---|
| 170 |
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JUBILEE TRAINING CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
10. Financial instruments
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Financial assets | ||
| Financial assets measured at fair value through income and expenditure | 12,034 | 12,419 |
Financial assets measured at fair value through income and expenditure comprise debtors and cash balances.
11. Statement of funds
Statement of funds - current year
| Balance at 1 | Balance at | |||
|---|---|---|---|---|
| September | 31 August | |||
| 2021 | Income | Expenditure | 2022 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General Funds - all funds | 12,589 | 252 | (807) | 12,034 |
12. Summary of funds
Summary of funds - current year
| Balance at 1 | Balance at | |||
|---|---|---|---|---|
| September | 31 August | |||
| 2021 | Income | Expenditure | 2022 | |
| £ | £ | £ | £ | |
| General funds | 12,589 | 252 | (807) | 12,034 |
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JUBILEE TRAINING CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
| 13. Analysis of net assets between funds Analysis of net assets between funds - current year Unrestricted funds 2022 £ Current assets 12,034 Total 12,034 |
Total funds 2022 £ 12,034 |
|---|---|
| 12,034 |
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