THE MATTHEW MINISTRY REPORT AND ACCOUNTS YEAR ENDED 31 DECEMBER 2022
THE MATTHEW MINISTRY, CAMBRIDGE Charlty Incorporated Organisation Charity number.. 1166819 Accounts- 31st December 2022 INDEX Report of the Trustees and General Infom)atlon Independent Examinerfs Report lo the Trustees Statement of Financial Acllvilies Balance Sheet Note8 to the Accounts
THEMAThHEW MINL8TRV REPORTOFTHETRUSTEES IoTth+y•arqnd 3151 DfceMber1022 CharltyRÈEl5iratDMrnbr. 1166819 PrlnclpalAddTeS5'.65GoughWay. C?mbrldge.C639LN Banker5'. CAF 8ank LSmlted. 25 Klw HIIIAvenue. Kln85HIII.West MalllTh& KentMEI54JQ Indopendent Examlner.. PeterConnorlACAI Theirusteesareplea5edtowe5enf Ihelr4nnual rewit èndfhan¢lalstatementsfoiThe MatthEwMln15tiyfortheyearended 31 Decembei2022. TRUSTEES ThoTrustooSwhosÈèddr1Ths theyeaiandslnce theyealerwerÈaSIol10WS'. MrsHelen Lamb Mi Ron Loa DT SlmoThWadsley 08IECtWE5 AND ACTivfTIES Yo promoteènd èdvancethe Christian faith in3ccord8ncov•lth thestatementoffalthsetwt In iknesthede èppended tothe ¢ha<iVsconstituti The11he111n1$Iry8$fQrmed on$ Mar¢h 2016. rfn82D22.the attlvlllesof Ihech2rlty¢ertredartyJndthppJr(ha5eof re51dentlal pr0pertylncarnbiget0houeWOrkerSenlSd In prOmonInd advwclryihe Chrlsinfalth Inthe clty. ThÈTrusteesbavètonsldèrol the CharltyC¢mmL4sion'sBL4danceon puL4icbEnefIt3, in rcular,thspCI1lCUIdateQnCharIdÈsfOrthe adv?ncemeniol relwon. PERFORMANCE to achurch 5tafl meMberaNdenab1 mini5tryin an aptKopriato locationJndfacilllV. A MemoYarOum¢l UhderStandinEWa5 enteied intomryth the notlTrtendedth6tthe propEFty5hould bewolitgeneTbtinglorthEthaiityandrentMNII be revthd onl1 repaymentol themorteaeet¢ relle¢tactUal costs. In purchaseof eiulpnenttDthevèbJEof £l,077wa5purcha5ed toaw5tryth thurch 5er¥ke5. ThÈirusteesarÈgratÈful fordonaiitsn501£79.$47durin8 theyearlrom anwal gIttda andotherdonations. ThÈcharltyls seeklreto bulld wreseivestopui¢bèa second resldential piopertyin tambridse. STRUCWRE.GOVERNANCEANDMANAGEMENT Thfitl stat¢m¢ntshèvebeenprepired accordancewiththe aicountlll8poliuessetout in thenotesto the accolIS andcomplywSth th¢ ¢harltV$8ovÈrningdocumeni. tlkCharltiesA¢t 2011 adAutIngand flepurtlbYchIit1es'. 5tatementof Recomrnended Practico applicable to tharltlÈsprÈparlneihelr3¢wnts In dccorthnrewth FInancl ReportinEStandard 102. ThothaiityisgovorThÈd $fOUdIm% ¢0stitutiontE 8 Mirrh 2016and opefatP5a5a ckritable 102 incorporated organisatlon. Apartfromthofirst chariiyiwsiees.IhetrJsieesare èPP¢intÈd 14raterrn of thieeyear5by a resolution ofthetiuste25. Nofunds aro held a&custodtrUsteeon behalfol¢thers. Robln Le4Treasurer
THE MATTHEW MINISTRY- CHARITY NO. 1166819 Independent examiner's report to the trustees of The Matthew Ministry I report to the trustees on my examination of the accounts of the above charity for the year ended 31 December 2022. As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111"the Act"). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commisslon under sectlon 14515llbl of the Act. I have completed my examination. I confirm that no material matters have come to mv attention in connection with the examination which gives me cause to believe that in, anv material respect.. the accounting records were not kept in accordance with 5ectlon 130 of the Charities A¢t,' or the accounts did not accor(J with the accounting records; or the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, view which is not 2 matter considered as part of an independent examination. I have no concerns and have tome across no other matters in connection wlth the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Slgned.. Date.. SèPIV) 4rrt l421 Name.. Peter Connor IACAI Address.. 3 Middlemoor Road, Whittlesford CB22 4PB
THE MATTHEW MINISTRY- CHARITY NO. 1166819 Statement of Financial Activities for the year ended 31 December 2022 Note Dec-22 Dec-21 Unrestricted Funds Unrestricted Funds Incomlng resources Donations Charitable activities Investment income Total incoming resources 79,547 4,333 127 84,007 109,868 109,868 Resources expended Charitable activities Total resources expended 19,061 19,061 772 772 Net incomingl{outgoingl resources 64,946 109,096 Total funds brought foThvard 222,548 113.452 Total funds carried fonmard 287,494 222,548 The Matthew Ministry Charity Number.. 1166819
THE MATTHEW MINISTRY - CHARITY NO. 1166819
BALANCE SHEET
as at 31st December 2022
| Fixed assets Tangible assets Current assets Cash at bank and in hand Liabilities Creditors: amounts falling due within one year Net Current Assets Total assets less current liabilities Creditors: amounts falling due after more than one year Total net assets Funds of the Charity Unrestricted funds Total unrestricted funds Signed by RA Lea on behalf of all the trustees Note 7 8 9 |
Dec-22 803,142 76,784 (10,249) 66,535 869,677 (582,183) 287,494 287,494 287,494 |
Dec-21 3,137 |
|---|---|---|
| 219,411 | ||
| 219,411 ---- 222,548 |
||
| 222,548 222,548 |
||
| 222,548 |
The notes on pages 7 to 9 form part of these financial statements
Signed
Date 20 September 2023
Charity Number : 1166819
The Matthew Ministry
6
THE MATTHEW MINISTRY- CHARITY NO. 1166819 NOTES TO ACCOUNTS forthe year ended 31st Deeember 2022 Ac¢ountlng Poll¢l8s The principal accounling poli¢ie$ adopted, judgments key source5 of eslimalion un¢ertaiily in lh6 preparalh)n ol the flnancial sl8t8m8nis are as follows". al Ba81s ol p¥•paratlon The eccounlg Ifinsncial stalemenlsl h8ve been prepared under the h1810dcal $1 convention wllh ilem5 rectyni5ed al cosl orlrAn58dion value unless olheThwse slaleo in the relevanl rnlelsl lo IF88 acctrunis. The financial slalemen15 have been prepared in accordance Mlh the Send 8dilion of Ihe Charities Slaiemenl of R8¢ommend8d Pr8Gtice Issued in October 2019, the Finanaal Reporting Standard applicable in the Uniied Kingdom and Republ¢¢f Ireland IFRS 1021 and Ihtr Charities Act 2011. Golnu Concern The Iruslees conslder that there 8w no maiarfal urtartaniiÈs about thé Trusi's abllity lo continue as a going concetn. bl Incorng Tecognltlon pollcles Iletns of incom@ are reCgnIsed and included in the gccoun15 when an of the following crilerw are mel.. The carily has enliiiemenl lo the funds., . any performan ConditnS allached io Ihe items of Income have been mel or are fully wllhln the of charfly., 4 Ihere is sufficient certaintylhal ep1 of the income is (x)nsidered probEble.' and . lh8 amnI can be measuréd réllabty. C8sh don8tn5 are recogDi8ed on receipt. Income tsx recoverable in relelion ofth)nalions received LV)der Gift Aid or deeds of covenant is recogni5ed al the lime of the donaltan. ¢1 Change In basls of occounllng No thanoas havé btan madè trj aceounts for wewous yèars extspl m(xlrfieAtions to presentslion required by Ihe adoplion of SORP 2019. dl Donatad SoNl¢6$ and Facllltlès In a¢cordan¢e with the ¢h8ri1ieg SORP IFRS 1021 If general lime of velunteers Ss not recognlsed kn the accounts. Fund Accounting Unreslricled funds are available Io spend on activllieg that furfher anyofihe wrposes of the Charily. n Tangible Fixed Assels Tangible fix6d 8sÉets acoulrèd for usè bylhe charity are fftibally measured at cost and subs8quenlty mea¥ured at cost or valuali¢n. nel of deprecYalh)n and any impalrm6nl losses. Depreciation Ls recognised so as lo wriie off the cost or v8luallon ol assets less Ihelr rdual v8knes overlhelr useful Ilves on the following bases-. Freehold land and bulWin9s not d8precialed Equipment 25% on a slravJhl line basi5 Fixtures and filtings- 20% on a slravJht line basis gl Cash al Bank and In Hand C8sh al bank Includes tr£sh h8ld in l[nt actounts. h) Keyjudgernents 1. Key eslimale.. CharSlable donallons The Iruslees tnake eslimales and a5sumplions warding the fulure. The cash flow projedions indude assumptn5 8boul nlinued donallons, the key one bèing Ihai règulargiving and ren1 Income will not thange significanlly from hlslorical v81s. 2. Key estimate.. ResKlual value of prop9rty The Iruslees b81ieve Ihe property held fOrGhar1tsb purposes ha$ 8 high residu81 v8lue whith removes the need for deprcialJn lo ba ¢har98d. 3. Property Purch8se costs Property purchase cosis have been expensed in th8 yearas the Trustees believe they add no lasting valu8 lo Ihe asset and Ihal the property was valued ex¢kndiNJ ¢ost8. The Matthew Minsitry Charity Number '. 1166819
THE MATTHEW MINISTRY- CHARITY NO. 1166849 NOTES TO ACCOUNTS Iconl.) for the year ended 31st De¢¢mb•r 2022 Legal Stalus OF the Charlty Th8 CIO was esiablished as a r8glsl8red charity on the 8th March 2016 under regisler8d charity number 1166819. 11 wa5 eslablishfjd lo support, promote and £dv8nce the Chrislian faith. primarily Ibul nol exCveI in and aroun(5 th8 cilyof Cambridge. Ihrough provlslon of wemi595 and making grants. Income from Donatlan$ 2022 2021 Annual glft day Regular giving Other donalions 45.047 24,500 10,000 79,547 79,888 30,000 109,868 AU gltts and donations 8re unrestricted funds. Incomo from charltable actfvltle$ 2022 2021 Rental property inLx)me Challtable actlvltlè$ 2022 2021 Direct property cost8 Interest costs Property purchase costs Administrative expenses Dèpreciation 777 9.704 6.694 814 97 675 772 19.061 Staff and Trustees The Trust has employed no membars of siaff durirvJ the yearl2021.' nill. The ¥dmSnlsira15ve duiies and accounting have baèn undertaken bythe Trusl6$s. No wmun•r8iion was paid lo anylruslee during Ihe ar norlo any person connected lo them. Tanglble Flxed A8Strts Fmhold Equlpment Flxturos land and and bulldlng$ flttlngs Total Cost Al 1 January 2022 Addilions Al 31 Déc8mbtrr 2022 2,840 1,077 3.917 972 3.812 801077 804.889 800.000 800 000 972 Dopro¢latlo Al 1 Jenuary 2022 Depreciation charge for y8ar Balance carried fOartI 578 878 1.456 97 194 291 675 1,072 1,747 Nel book value Brought lonvard C8Yried fOard 2,262 875 681 8(MJ,000 803,142 No fixed assels have been rev21ued In Ihe year. Thé fré8hold land and buildings reIe lo a resklenllal wop8riy In C8mbridg&. The charilies SORP aGknowledges that some asseis may have 2 hlgli resldual valut which will remove need far depreciation lo be charged. The Irusl8&s artr of Ihè opinion Ihal Cambridgeshire has a buoyant prop8rty matk81 and that th8 rtsidenlial propety in ntral Cambridge will h8ve mainiain6d ils valu8 since acquisitn (late. The Irustee$ 8nli¢ipale that no depre¢ialion will be charged in future. The Matthew Minsitry Charity Number '. 1166819
THE MATTHEW MINISTRY- CHARITY NO. 1166819 NOTES TO ACCOUNTS Iconi.) for the year ended 31st D8ctrmbeT 2022 Creditors.. amounts falllng alter more than one year 2022 2021 Bank loans Inola 91 10.249 Credltors.. arnounts falllng due aftèr morg than one year 2022 2021 8ank Poan& Otrr loans 512.183 70,000 $82.183 On 13 Strpiember2022 the charity enlored Into 8 25 yearlnieresl and capital bgaring mortgage loan with Klngdom Bank, wrfh a pThndpal value of£525.000. The mortgage is secured on Ihe freeho property as shown in Dole 7. During Ihe year inleresl was payable at a variable rale. On 21 Deceinber 2022 Ihe inleresl r818 on the mortgage was 4.21%. The total amount outstanding lo Kingdom Bank ai 31 December was £522,43212021.. tnil. Other198ns ere unsecured and hleresl b8arirwJ. They ere lent lo the chanly for 8 fixed ieTm five year period expirirTrg ijn g August 2027. 10 Rèlated Partls The current Chair of the Mallhew bAni51ry is also a non-EXul1ye Dlreclorof ngdoM Bank. the issuer of the mortgage meniioned in noi8 9 whlch Is secured overlhe freeholO18nd build1n In nth8 7. The Matlhew Minsilry Charity Number '. 1166819