ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022
NORTH LONDON IRANIAN CHURCH
(Charitable Incorporated Organisation)
CHARITY REGISTRATION No: 1165863
Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
NORTH LONDON IRANIAN CHURCH
(Charitable Incorporated Organisation)
CONTENTS
Page 3 Legal and Administrative Information Page 4 Independent Examiner's Report to the Trustees Page 5 Trustees' Report Page 6 Statement of Financial Activities Page 7 Balance Sheet Pages 8 to 12 Notes to the Financial Statements
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NORTH LONDON IRANIAN CHURCH
(Charitable Incorporated Organisation)
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER
CHARITY NUMBER 1165863 DATE OF REGISTRATION 3rd March 2016 START OF FINANCIAL YEAR 1st January 2022 END OF FINANCIAL YEAR 31st December 2022 TRUSTEES AT 31ST DECEMBER 2022 Mr Malcolm Steer Mrs Shima Pishehvarz Rev Edward Mehr
The existing trustees appoint any new trustees following the provisions laid out in the organisation's governing instrument.
LEGAL STATUS
Charitable Incorporated Organisation
GOVERNING INSTRUMENT
CIO Association Registered 3rd March 2016
OBJECTS
To advance the Christian Religion for the benefit of the public in accordance with the Statement of Faith set out in the Constitution.
CORRESPONDENCE ADDRESS 24 Roxburgh Close Camberley GU15 1AS PRIMARY BANKERS Barclay Bank Plc 1 Churchill Place London E14 5HP
INDEPENDENT EXAMINERS
Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
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INDEPENDENT EXAMINER'S REPORTON THE ACCOUNTS Report to the trust&rfl terS crf the North Iranian Chwch iffi tho ac(y)unts for thg year 31st Decemb8r 2022 Set on pag•$ 6 to 12. R•8P•Ctbv• r••pon•lbll1ll of tru8t•ts and •xamln•r The organi88tion's trust8es are resF4Jnstble for the rxtparabon of the aCc(nts. The organisat)n's tnJsta•s consider that an audit is not requir8d for year under th8 Ch8nts Act 2011 and that an indeFendent examination is ne8dod. tt Is my respJnsibtlty lry. ' examine th8 accounts (under sectw 4313llal ofth& Art a5 amended)., . rollow th8 pr(xxlurts la down in Ger1 'rec1K>S given by Ihe Charlty Comm+sslon¥r8 lurKJer section 4317llbl ol the Act. as arnendedl,. and ' 8tst• whether parts"car matters havg to my attent. Ba818 of Ind•p•nd•nt ?Mrnln•rf• 8t•t•m•nt My examination was carri out in vKcordanc• %wth G¥y)èral DirtiS by the Chanty Commlssk)n8r8. An examination includes a wew ol the accounts'ng recoft1s kw by the organisatpjn arKI a comparison of th8 a¢counts presented wrth those rocords. rt also inclu(les consideration ol any unusual Ttems or disck}su in the accounts, and seokirng explanations from the tru8tees concerning any juch matters. The wcvdure8 undertaken do not provide 811 the evhlence that would be uired in an audit, and ¢onsequ8ntly no Opini is gNen as to wh•thw thtr occwnts pres8nt a Irug and fair vhgw. and th• report is limited to Ihose [Ttter¥ set o¢Jt In the s4iemni be. Ind•p•nd•nt •x•mln•rf• #tat•m•nt In ¢onne¢tM wtth my examinatiort. m8tter t0 trj my •tt•nbon: whth giv08 me rea8onabkn ¢ou8e to teliM that In Y mètsrial rnspect t rwuirements.. . to keep xccwjniing rtcords in aCC(Kda secbon 41 oftho 1993 AeL' and . to kryjare accounts which awd wth the accountyrvJ rocords and ¢0mY wlth the accountlng r•quirements olthts Aet hav• not been met or 121 to which, in my opM)ion, att•ntion 8hcyJld b• ¢Jra in d8T to enabb 8 proper under8tanding of th• 8ccounts to bo reach. K. Collaku MAAT Castle VKgw Accounting Ltd 8am Mudberry Lane Bosham Chlch&ster West Sussex P0188rs Dat•.' 21st July 2023
NORTH LONDON IRANIAN CHURCH (charrtab Incorwrated organisa1} TRUSTEES REPORT FOR THE YEAR ENDED 31ST DECEMBER 2022 The NUC is a ¢ommunity of G(Kl'$ peop. thÈ pur) of %hh is Y)thip. fÈlbwship and disCiphIp of people (Churchl. rnoslty of Irankqn origin bul a150 olother nat)nalItS that relate to become a genuin8 part of NLIC. The Obje¢t of the NUC i% to advan¢e the Chrtstuan rK)n lortF efft ol Ihe publ¢. The NLIC is commilled to th8 Great Commission of Mt 28..120, in evangdist othreach to, and disci1ng of Ir8nKgns and other nationalities. firsuy in the UK. and then Europe arKJ el%where in the w(xkl. in C£K>peration with other5 of like wsion. In pursuanc8 ol these objectives we ha¥e w8Y, 8Stsblth&Y rthurch ffthlings, Bib leaching, pray8r, Sunday school, counsdling. and worship rneetiry Tru•¢••s R•spon•lbllltl•• The Charities Act 2011 require the tnJste88 to prepare financial statements for eh financial year which give 8 true and fair vw of the state of affaits of ¢he trust ar%1 of the of the trust lor that pwKJ. In pparing those financial $ts18rrÉnts th8 trustee$ 8r9 required to.. , Sde¢t suitable a¢¢ounting pol and app Ihem ¢ongstwlty Makejudgernent$ and esiimes that aw rèasona and prwjent . Prepare fin8rKial slaternenls on Ihe going cOrern basis Un rt ffj inapproprs#te to pre5urne that the CIO will ¢ontlnu8 in existence. The truste88 ar8 responsibb for keeping proper thIn11 records, dixk)8e with reasonable ac¢ur8cy at any lime the fin8ncial position ol the trust. They are a150 r85poThsbkn for safeguarding the a558ts of thg trust and hence for takirrfj rea8onabb Steps for the prevention and deiectK)n of Ira1 an¢1 other Irregubrilies. Approved by th8 7ru8t8e8 on the....... .. 1910712023 sign on thdr behalf by Tru5tee....................... Printed Narr'. Mrs Shlrr* Pbhehva
NORTH LONDON IRANIAN CHURCH
(Charitable Incorporated Organisation)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2022
| Notes INCOMING RESOURCES Incoming Resources from Generated Funds Donations & Legacies 3a Investment Income 3b TOTAL INCOMING RESOURCES RESOURCES EXPENDED Costs of Generating Funds Cost of Charitable Activities 4a Governance Costs 4b TOTAL RESOURCES EXPENDED Total Funds Brought Forward TOTAL FUNDS CARRIED FORWARD NET INCOMING/ (OUTGOING) RESOURCES |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2022 2021 £ £ £ £ 163,984 - 163,984 99,097 97 - 97 - 164,081 - 164,081 99,097 153,717 - 153,717 95,873 900 - 900 775 154,617 - 154,617 96,648 9,464 - 9,464 2,449 169,582 - 169,582 167,132 179,046 - 179,046 169,581 |
|---|---|
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 12 form part of these financial statements.
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NORTH LONDON IRANIAN CHURCH (charrtab Incorwrated organisa1} BALANCE SHE ASAT 31ST DECEMBER 2022 Unrestricted Restncied Fund5 Fun TOTAL TOTAL 31-Doc.22 31-Dec.21 Flxèd Auèt# Tangible A5set5 ¢urront AM•ts Debtors & Prepaywents Cash al Bank and in H8nd 4.209 263.469 135 244,726 263,469 Totsl ¢urr•ntAM•ts 207.678 267.678 244.861 Crodltors: Amounts f811ing due wilhin one year 88,632 88,632 75,279 NET CURRENT ASSETS 179.046 179.046 169.$82 TOTAL ASSETS W curreni liabilrt 179.046 179.046 169.582 Crgdltor•: Lon9 Term Li8bilrt*s NET ASSETS 179,046 179,046 169,582 Fund¥ of the Charfty General Funds Re$td¢led Funds 179,046 179,046 169,582 Totsl Fund• 179.046 179.048 169,582 19107r2023 Approved by the Trustees on the....................................................................................................................... Signeé on thdr behaw by Trustee....................... ... . Printed Nary.. Mrs Shirna Plshehvwz
NORTH LONDON IRANIAN CHURCH
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 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.
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 but is described in the trustees' annual report.
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.
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NORTH LONDON IRANIAN CHURCH
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST DECEMBER 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.
Fixed Assets
These 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.
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.
2. TANGIBLE FIXED ASSETS
The Charity held no tangible fixed assets or investments during this or the previous financial period.
The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31st December 2022: None
31st December 2021: None
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NORTH LONDON IRANIAN CHURCH
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2022
3. INCOMING RESOURCES
| a) Donations & Legacies Gifts, Tithes & Offerings Gift Aid Tax Recovered b) Investment Income Interest |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2022 2021 £ £ £ £ 142,496 - 142,496 99,097 21,488 - 21,488 - 163,984 - 163,984 99,097 97 - 97 - 97 - 97 - |
|---|---|
4. RESOURCES EXPENDED
| a) Cost of Charitable Activities Baptism Costs Books & Publications Conference Costs East London Church Eccam Network Equipment Costs Gifts, Tithes & Offerings Help Committee Home Groups Insurance Costs Ministry Expenses Printing, Postage & Stationery Projects & Events Rent & Rates Staff Costs 11 Sunday School Telephone Costs Transport Costs Travel & Hospitality Youth Expenses b) Governance Costs Independent Examiner's Fee 8 |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2022 2021 £ £ £ £ 978 - 978 - 726 - 726 - 1,600 - 1,600 1,011 - - - 2,660 - - - 987 8,677 - 8,677 2,871 47,866 - 47,866 33,060 6,400 - 6,400 - 327 - 327 600 463 - 463 442 4,073 - 4,073 2,773 780 - 780 - 8,926 - 8,926 - 21,559 - 21,559 12,431 35,722 - 35,722 32,273 755 - 755 500 1,756 - 1,756 1,331 1,108 - 1,108 1,200 11,400 - 11,400 3,623 601 - 601 110 153,717 - 153,717 95,873 900 - 900 775 900 - 900 775 |
|---|---|
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NORTH LONDON IRANIAN CHURCH
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2022
5. RESTRICTED FUNDS
The Charity held no Restricted Funds during this or the previous financial period.
6. CASH AT BANK AND IN HAND
| Cash at Bank and in Hand 7. DEBTORS AND PREPAYMENTS Sundry Debtors |
Unrestricted Restricted TOTAL TOTAL Funds Funds 31-Dec-22 31-Dec-21 £ £ £ £ 263,469 - 263,469 244,726 263,469 - 263,469 244,726 Unrestricted Restricted TOTAL TOTAL Funds Funds 31-Dec-22 31-Dec-21 £ £ £ £ 4,209 - 4,209 135 4,209 - 4,209 135 |
|---|---|
8. CREDITORS ACCRUALS AND DEFERRED INCOME: AMOUNTS FALLING DUE WITHIN ONE YEAR
| ICF Funds Independent Examiner's Fee Sundry Creditors |
Unrestricted Restricted TOTAL TOTAL Funds Funds 31-Dec-22 31-Dec-21 £ £ £ £ 35,722 - 35,722 32,273 900 - 900 775 52,010 - 52,010 42,231 88,632 - 88,632 75,279 |
|---|---|
9. CREDITORS - LONG TERM LIABILITIES: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR
The Charity held no long term liabilities during this or the previous financial period.
10. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Tangible Fixed Assets Net Current Assets Long Term Liabilities TOTAL FUNDS |
Unrestricted Restricted TOTAL TOTAL Fund Fund 31-Dec-22 31-Dec-21 £ £ £ £ - - - - 179,046 - 179,046 169,582 - - - - 179,046 - 179,046 169,582 |
|---|---|
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NORTH LONDON IRANIAN CHURCH
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2022
11. STAFF COSTS AND NUMBERS
| Gross Wages and Salaries Employer's National Insurance Costs Pension Contributions Employees who were engaged in each of the following activities: Activities in furtherance of organisation's objects |
TOTAL 2022 £ 35,722 - - 35,722 TOTAL 2022 2 |
TOTAL 2021 £ 32,273 - - 32,273 TOTAL 2021 2 |
|---|---|---|
The organisation operates a PAYE scheme to pay all employed members of staff and no employees received emoluments in excess of £60,000. (2021:None)
12. 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 (2021:None).
13. 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
14. RESERVES POLICY
The Trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The Trustees aim to ensure the charity 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.
15. PUBLIC BENEFIT
The Charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity 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 charity should undertake.
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