# **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| 2 ## **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 3 ## **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 4 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. fdky*thip and #W￿8$hIp frf pts¥Ae (Churchl. mO￿Y of tTanian Lryin twji al* of (AIEr Ihai rdate 10 a genuire pwi ol NUC. The 0￿￿1 olthe NUC Is to tharte chf￿ ofthe wt The NLIC is c(xrrnrtted to the (kpat c(Thmi%￿ of Ml 28..1￿20. ID eyarye1st￿ (xjtreach to. and dis¢rlivJ of tranian5 aryl other h*￿lit*S. fir5*y In the UK ihen Eurepe al￿ elS￿￿ere in 11 wth others oflike Tru5tees' Respo￿•bi￿¢S ThÈ tru5tpes are reS[ww￿ rry*rrng ttE TfUStees' Rewt and thE firHnoa swements m acctrdance aprI￿tle Law arxj Ihe Genwaty Accepted AcC￿nI1￿9 pr￿)[￿e$ IGAAPI ￿d￿Ing Fi￿ar￿lI Repcrtiry stsrdard 102.. Tts Fiwcial Rewtrvj StsThYard In VK Re￿¢ frt (Unrted Gerthly k(•ed Accwntrg PrattLel. T1￿ Charitie5 Aa 2011 require the In*ees to stairnts exh give a aThY far y￿W 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.. M*e iu¢trJemeTts aThl ewmates a￿ arKI [￿￿￿￿. sme whether Wc*le UK Ac£ourthg StsrKJ¥(15 have teen t4b41*1. 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 cA￿ty and ena￿ to enwre thai fin￿081 statem￿5 Ihe Chantie5 A(X 2011, Ihe Chaiity (Acc(X￿ts and ReF*Jtsi 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 offr8￿j and Lther ¥reg￿an1￿& 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. 6 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) 2￿j.138 7.7 200.t38 Cash at Bank In HaTrJ 263.469 T(4al Currem A88et$ 207.838 207.838 267,678 credit￿6.. 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 Liatikt*s NET ASSETS 172.2n 172.272 179,046 FuThJs ofthe C￿rIty 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. 8 ## **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 9 ## **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**| |---|---| 10 ## **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**| |---|---| 11 ## **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. 12