Registered Company Number: 09265561 (England and Wales) Registered Charity Number: 1165995
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31[st] October 2020
for
The Aldersgate and Moorgate Talks Trust
The Aldersgate and Moorgate Talks Trust Registered Company Number: 09265561 Registered Charity Number: 1165995
Contents of the Financial Statements for the Year Ended 31[st] October 2020
| Page | |
|---|---|
| Report of the Trustees | 3 - 4 |
| Independent Examiner’s Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 |
The Aldersgate and Moorgate Talks Trust Registered Company Number: 09265561 Registered Charity Number: 1165995
Report of the Trustees for the Year Ended 31[st] October 2020
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31[st] October 2020.
REFERENCE AND ADMINISTRATIVE DETAlLS
| Registered Company number 09265561 (England and Wales) Registered Charity number 1147429 |
Trustees H J Gittins (Secretary) E J Linforth I C Maclennan (Chairman) |
|---|---|
| Registered ofce Southmere Farmhouse 20 Langstone Road Langstone Hampshire PO9 1QX |
Independent Examiner Mrs. Chaweevan Williams Verdant Accountants Limited 20 - 22 Wenlock Road London N1 7GU |
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a Memorandum and Articles of Association. It is a limited company, limited by guarantee, as defined by the Companies Act 2006. In the event of the company being wound up, members are required to contribute an amount not exceeding £1. The company was incorporated on 15[th] October 2014.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
OBJECTIVES AND ACTIVITIES
The trustees have considered the Charity Commission's guidance on public benefit and in particular the specific guidance in relation to charities for the advancement of religion. They are satisfied that the activities of The Aldersgate and Moorgate Talks Trust fall within that guidance.
ACHIEVEMENT AND PERFORMANCE
The Aldersgate and Moorgate Talks Trust (the “Trust”) was incorporated on 15[th] October 2014 and was registered as a charity with the Charity Commission for England and Wales on 10[th] March 2016. H.M. Revenue and Customs recognised the Trust as a charity eligible to claim Gift Aid on donations on 22[nd] April 2016.
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The Aldersgate and Moorgate Talks Trust Registered Company Number: 09265561 Registered Charity Number: 1165995
Report of the Trustees for the Year Ended 31[st] October 2020
Activity for the year ending 31[st] October 2020 has been satisfactory, allowing the trustees to make grants of £ 129,000 in total in support of the charitable objects of the trust.
FINANCIAL REVIEW
The Trust’s total income for the year ending 31[st] October 2020 was £ 260,771, all of which came from voluntary giving (including Gift Aid plus repayment interest). Total resources expended for the same period were £ 129,372, which relate to grants made, bank charges and governance costs. A surplus of £ 131,399 arose.
FUTURE DEVELOPMENTS
The trustees expect the level of regular donations to continue to increase in the short to medium term. Regular monthly grants in support of the Aldersgate Talks and the Moorgate Talks commenced in July 2018 and the trustees expect to continue to build up the level of grants, as available resources allow. The large surplus arose due to gifts which the trustees intend to allocate towards a property purchase, in support of ministry in and around the City of London. The trustees are currently actively engaged in negotiating the purchase of a suitable property, which is expected to be let to the staff member with primary responsibility for the Aldersgate and Moorgate Talks. As part of this purchase the trustees have applied for a loan to finance the purchase.
DIRECTORS’ RESPONSIBILITIES
Charity law requires the trustees to prepare financial statements for each accounting year which give a true and fair view of the state of the charity and of its income and expenditure for the year. The trustees are required to:
-
Select suitable accounting policies and apply them consistently
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Make judgements and estimates that are reasonable and prudent
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State whether the applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts.
-
Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in business.
We are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the company and enable us to ensure that the financial statements comply with the Companies Act 2006. We also have a responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities.
Approved by order of the board of trustees on 20[th] April 2021 and signed on its behalf by:
/signed: Ian C. Maclennan/
Ian C. Maclennan - Chairman
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INDEPENDENT EXAMINER’S REPORT
Independent examiner’s report to the trustees of The Aldersgate and Moorgate Talks Trust Registered Company no: 09265561 and Registered Charity no: 1165995.
I report on the financial statements of the above charity (a company limited by guarantee) for the year ended 31 October 2020, which comprise the statement of Financial Activities, the Balance Sheet and the related notes 1-6.
Respective responsibilities of trustees and examiner
The trustees who are also directors of the company for the purposes of company law, are responsible for the preparation of the accounts in accordance with the Charities Act 2011 (‘the Act’). The Charity’s trustees consider that an audit is not required for this year under section 144 of the Act and that an independent examination is needed. The charity’s gross income exceeded £250,000 I am qualified to undertake the examination by being a qualified Fellow of the Chartered Association of Certified Accountants.
It is my responsibility to examine the accounts under section 145 of the Charities Act, follow the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act, and state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity 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
(1) In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 386 of the Companies Act (2006); or
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the accounts do not accord with the accounting records; or
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the accounts do not comply with the applicable requirements concerning the form and content of the accounts set out in section 396 of the Companies Act 2006 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; or
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The accounts have not been prepared in accordance with the Charities SORP (FRS102).
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(2) 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.
Chaweevan Williams FCCA Date 23 July 2021 Fellow of the Association of Chartered Certified Accountants Verdant Accountants Limited 20-22 Wenlock Road, London N1 7GU
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The Aldersgate and Moorgate Talks Trust Registered Company Number: 09265561 Registered Charity Number: 1165995
Statement of Financial Activities
| Year ended 31st October | Year ended 31st October | 2020 | Year ended 31st October | Year ended 31st October | 2019 | |
|---|---|---|---|---|---|---|
| Notes | Unrestricted fund |
Restricted fund |
Total Funds |
Unrestricted fund |
Restricted fund |
Total Funds |
| INCOMING RESOURCES Incoming resources from generated funds Voluntary income Gift Aid receivable Interest Activities for generating funds Total incoming resources |
||||||
| £ 125,000 £ 25,500 £ 0 £ 0 £ 150,500 |
£ 93,668 £ 16,603 £ 0 £ 0 £ 110,271 |
£ 218,668 £ 42,103 £ 0 £ 0 |
£ 2,300 £ 500 £ 12 £ 0 £ 2,812 |
£ 83,240 £ 12,659 £ 0 £ 0 £ 95,899 |
£ 85,540 £ 13,159 £ 12 £ 0 |
|
| £ 260,771 |
£ 98,711 |
|||||
| RESOURCES EXPENDED Costs of generating voluntary income Charitable activities 2 Bank charges Governance costs Total resources expended |
||||||
| £ 0 £ 19,842 £ 72 £ 300 £ 20,214 |
£ 0 £ 109,158 £ 0 £ 0 £ 109,158 |
£ 0 £ 129,000 £ 72 £ 300 |
£ 0 £ 0 £ 128 £ 0 £ 128 |
£ 0 £ 118,000 £ 0 £ 0 £ 118,000 |
£ 0 £ 118,000 £ 128 £ 0 |
|
| £ 129,372 |
£ 118,128 |
|||||
| NET INCOMING/(OUTGOING) RESOURCES RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
£ 130,286 |
£ 1,113 |
£ 131,399 |
£ 2,684 |
£ (22,101) |
£ (19,417) |
| £ 5,348 £ 135,634 |
£ 631 £ 1,744 |
£ 5,979 |
£ 2,664 £ 5,348 |
£ 22,732 £ 631 |
£ 25,396 |
|
| £ 137,378 |
£ 5,979 |
The notes on page 8 form part of these accounts.
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The Aldersgate and Moorgate Talks Trust Registered Company Number: 09265561 Registered Charity Number: 1165995
Balance Sheet At 31[st] October 2020
| Notes | Unrestricted fund |
Restricted fund |
31/10/2020 Total Funds |
31/10/2019 Total Funds |
|---|---|---|---|---|
| CURRENT ASSETS Debtors 3 Cash at bank |
||||
| £ 0 £ 135,934 £ 135,934 |
£ 1,744 £ 0 £ 1,744 |
£ 1,744 £ 135,934 £ 137,678 |
£ 2,105 £ 3,874 |
|
| £ 5,979 |
||||
| CREDITORS Amounts falling due within one year 4 |
||||
| £ 300 |
£ 0 |
£ 300 |
£ 0 |
|
| NET CURRENT ASSETS/(LIABILITIES) | £ 135,634 |
£ 1,744 |
£ 137,378 |
£ 5,979 |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
£ 135,634 |
£ 1,744 |
£ 137,378 |
£ 5,979 |
| CREDITORS Amounts falling due after more than one year |
||||
| £ 0 |
£ 0 |
£ 0 |
£ 0 |
|
| NET ASSETS | £ 135,634 |
£ 1,744 |
£ 137,378 |
£ 5,979 |
| FUNDS Unrestricted funds Restricted funds TOTAL FUNDS |
||||
| £ 135,634 £ 1,744 £ 137,378 |
£ 5,348 £ 631 |
|||
| £ 5,979 |
For the year ending 31[st] October 2020 The Aldersgate and Moorgate Talks Trust qualifies as a small company, as defined by the Companies Act 2006 (the “Act”). The directors have also determined that the company was entitled to exemption from audit under section 477 of the Act relating to small companies. The directors (who are also the members of the company for the purposes of the Act) have not required the company to obtain an audit for the year in question in accordance with section 476. However, in accordance with section 145 of the Charities Act 2011 the accounts have been examined by an independent examiner whose report forms part of this document.
The directors acknowledge their responsibilities for complying with the requirement of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
Approved by order of the board of trustees on 20[th] April 2021 and signed on its behalf by:
/signed: Ian C. Maclennan/
Ian C. Maclennan - Chairman
The notes on page 8 form part of these accounts.
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The Aldersgate and Moorgate Talks Trust Registered Company Number: 09265561 Registered Charity Number: 1165995
Notes to the Financial Statements for the Year Ended 31[st] October 2020
1. ACCOUNTING POLICIES
Accounting convention
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Act relating to small charitable companies and 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) (effective 1 January 2016) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The Statement of Financial Activities incorporates the Profit and Loss account.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objects at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
The company has taken advantage of the exemption provided by the FRS 102 SORP and has not prepared a Cash Flow Statement for the year.
2. CHARITABLE ACTIVITIES
During the year grants totalling £ 129,000 were made to the Guild Church Council of St. Botolph-withoutAldersgate, in support of the Aldersgate Talks (£ 66,000) and the Moorgate Talks (£ 63,000). (2019 respectively - £ 67,000 and £ 51,000 - total £ 118,000).
3. DEBTORS
Debtors relate to Gift Aid receivable from H.M. Revenue & Customs.
4. CREDITORS
Creditors relate to the fee for the independent examination of the accounts.
5. TRUSTEES’ REMUNERATION AND BENEFITS
No trustee was remunerated and no expenses have been paid to trustees.
6. STAFF COSTS
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