ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023
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 1165863 DATE OF REGISTRATION 3rd March 2016 START OF FINANCIAL YEAR 1st January 2023 END OF FINANCIAL YEAR 31st December 2023 TRUSTEES AT 31ST DECEMBER 2023 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 REPORT ON THE ACCOUNTS
Report to the trustees/ members of the North London Iranian Church on the accounts for the year ended 31st December 2023 set out on pages 6 to 12.
Respective responsibilities of trustees and examiner
The organisation's trustees are responsible for the preparation of the accounts. The organisation's trustees consider that an audit is not required for this year under the Charities Act 2011 and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts (under section 43(3)(a) of the Act, as amended);
-
follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 43(7)(b) of the Act, as amended); and
-
state whether particular matters have come to my attention.
Basis of independent examiner's statement
My examination was carried out in accordance with General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the organisation 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: · to keep accounting records in accordance with section 41 of the 1993 Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Act
have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
K. Collaku MAAT Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
Date: 25th June 2024
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NORTH LONDON IRANIAN CHURCH Ichamale OrgaThsabml TRUSTEES REPORT FOR THE YEAR ENDED 31ST DECEMBER 2023 The NLIC Is a c(wnnwnity of Gc¢J's p&¥Ae. the FWFose wL¥thp. fdkythip and #W8$hIp frf pts¥Ae (Churchl. mOY of tTanian Lryin twji al of (AIEr Ihai rdate 10 a genuire pwi ol NUC. The 01 olthe NUC Is to tharte chf ofthe wt The NLIC is c(xrrnrtted to the (kpat c(Thmi% of Ml 28..120. ID eyarye1st (xjtreach to. and dis¢rlivJ of tranian5 aryl other hlitS. fir5y In the UK ihen Eurepe al elSere in 11 wth others oflike Tru5tees' Respo•bi¢S ThÈ tru5tpes are reS[ww rryrrng ttE TfUStees' Rewt and thE firHnoa swements m acctrdance aprItle Law arxj Ihe Genwaty Accepted AcCnI19 pr)[e$ IGAAPI dIng FiarlI Repcrtiry stsrdard 102.. Tts Fiwcial Rewtrvj StsThYard In VK Re¢ frt (Unrted Gerthly k(•ed Accwntrg PrattLel. T1 Charitie5 Aa 2011 require the Inees to stairnts exh give a aThY far yW ofthe state of aftairs oflhE CIO •KI the LrfthÈ CIO 1£th Fenod. In tlw)5E firwn(i stateMe$th trustees we f8wtyed Observe melhtsjs antt In IIE ChantEs SORP.. Me iu¢trJemeTts aThl ewmates a arKI [. sme whether Wcle UK Ac£ourthg StsrKJ¥(15 have teen t4b411. to ary matenal derwlure8 dwjosed ext4amed In the 51atemellls. F¥eFwe fwrDal swements ttr gExr¥J clwwn bays it i¥ Ir43wwxw¢e to wewrre th81 C40 Jthnue In existerce. finartial oflhe cAty and ena to enwre thai fin081 statem5 Ihe Chantie5 A(X 2011, Ihe Chaiity (Acc(Xts and ReFJtsi Regkn5 2fKJB WKI oftr Goverrirvj D[&t TlJ8y are 150 restts7slb 5afeguardiry ts &ssets of ts (arity •¥1 re8S£¥)ètle Steps for thp sxeventw detectw offr8j and Lther ¥regan1& SurEd on 1r tehaff tyTrustetr...................... . Prinw Name".
NORTH LONDON IRANIAN CHURCH
(Charitable Incorporated Organisation)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2023
| Notes INCOMING RESOURCES Incoming Resources from Generated Funds Donations & Legacies 3a Investment Income 3b TOTAL INCOMING RESOURCES RESOURCES EXPENDED Costs of Generating Funds Cost of Charitable Activities 4a Governance Costs 4b TOTAL RESOURCES EXPENDED Total Funds Brought Forward TOTAL FUNDS CARRIED FORWARD NET INCOMING/ (OUTGOING) |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2023 2022 £ £ £ £ 154,088 - 154,088 163,984 1,494 - 1,494 97 155,582 - 155,582 164,081 161,276 - 161,276 153,717 1,080 - 1,080 900 162,356 - 162,356 154,617 (6,774) - (6,774) 9,464 179,046 - 179,046 169,582 172,272 - 172,272 179,046 |
|---|---|
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 8 to 12 form part of these financial statements.
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NORTH LONDON IRANIAN CHURCH Ichartth Inc(wate(J OrgarHsatsml 8ALANCE SHEET ASAT 31ST DECEMBER2023 TOTAL 31-Dec-23 TOTAL 31.Doc.22 Fwds Fixed Assets TangilAe Assets 7.7(X) 2j.138 7.7 200.t38 Cash at Bank In HaTrJ 263.469 T(4al Currem A88et$ 207.838 207.838 267,678 credit6.. AmtrJnis faliry thje (Ye year 35.5e6 e8.632 NET CURRENT ASSETS 172272 1r2272 179.04e TOTAL ASSEIS less ¢rrent hatxhLEs 172.272 171272 179,046 Creditars.. L(mg Liatikts NET ASSETS 172.2n 172.272 179,046 FuThJs ofthe CrIty General Funds 171272 172.272 179,046 Totsl Funds 172,272 172.272 179.046 Atproved bythe Trustees .
NORTH LONDON IRANIAN CHURCH
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
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 note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2015) (Second Edition, effective 1st January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (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 2023
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 2023 : None 31st December 2022 : None
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NORTH LONDON IRANIAN CHURCH
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2023
3. INCOMING RESOURCES
| a) Donations & Legacies Gifts, Tithes & Offerings Gift Aid Tax Recovered b) Investment Income Interest |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2023 2022 £ £ £ £ 132,786 - 132,786 142,496 21,302 - 21,302 21,488 154,088 - 154,088 163,984 1,494 - 1,494 97 1,494 - 1,494 97 |
|---|---|
4. RESOURCES EXPENDED
| a) Cost of Charitable Activities Baptism Costs Books & Publications Conference Costs 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 2023 2022 £ £ £ £ 526 - 526 978 2,023 - 2,023 726 - - - 1,600 751 - 751 - 3,652 - 3,652 8,677 49,030 - 49,030 47,866 - - - 6,400 - - - 327 486 - 486 463 4,540 - 4,540 4,073 393 - 393 780 8,520 - 8,520 8,926 29,544 - 29,544 21,559 46,725 - 46,725 35,722 667 - 667 755 1,778 - 1,778 1,756 2,560 - 2,560 1,108 9,528 - 9,528 11,400 553 - 553 601 161,276 - 161,276 153,717 1,080 - 1,080 900 1,080 - 1,080 900 |
|---|---|
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NORTH LONDON IRANIAN CHURCH
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2023
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-23 31-Dec-22 £ £ £ £ 200,138 - 200,138 263,469 200,138 - 200,138 263,469 Unrestricted Restricted TOTAL TOTAL Funds Funds 31-Dec-23 31-Dec-22 £ £ £ £ 7,700 - 7,700 4,209 7,700 - 7,700 4,209 |
|---|---|
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-23 31-Dec-22 £ £ £ £ 15,405 - 15,405 35,722 1,080 - 1,080 900 19,081 - 19,081 52,010 35,566 - 35,566 88,632 |
|---|---|
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-23 31-Dec-22 £ £ £ £ - - - - 172,272 - 172,272 179,046 - - - - 172,272 - 172,272 179,046 |
|---|---|
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NORTH LONDON IRANIAN CHURCH
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2023
11. STAFF COSTS AND NUMBERS
| TOTAL 2023 £ Gross Wages and Salaries 46,725 Employer's National Insurance Costs - Pension Contributions - 46,725 Employees who were engaged in each of the following activities: TOTAL 2023 Activities in furtherance of organisation's objects 2 |
TOTAL 2022 £ 32,273 - - 32,273 TOTAL 2022 2 |
|---|---|
The organisation operates a PAYE scheme to pay all employed members of staff and no employees received emoluments in excess of £60,000. (2022: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 (2022: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 risks.
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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