Windsor Fellowship Trust
Report and Accounts Year ended 30 September 2023
1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk
WINDSOR FELLOWSHIP TRUST
LEGAL & ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
ADDRESS FOR CORRESPONDENCE Christ Church URC 12 William Street WINDSOR SL4 1BA GOVERNING DOCUMENT Constitution dated 31 March 2016 CHARITY REGISTRATION NUMBER 1166996 TRUSTEES RESPONSIBLE FOR Rev P. Bickersteth (resigned 8 November 2023) MANAGING THE CHARITY Rev. S. Brewster Mrs A. Felce Ms C. McKinnel (resigned 1 July 2023) Mr E. Mishambi Mr Grant Thomas (appointed 22 June 2023) Mr P. Williams (resigned 1 July 2023 Mrs Sarah Windsor (appointed 22 June 2023)
BANKERS Metro Bank PLC INDEPENDENT EXAMINER Lourens du Plessis ACA CA(SA) Stewardship 1 Lamb's Passage LONDON EC1Y 8AB
INDEX
Page 1 Legal & Administrative Details Pages 2-3 Report of the Trustees Page 4 Independent Examiner's Report Page 5 Receipts and Payments Account Page 6g Statement of Assets and Liabilities Page 7 Notes to the Accounts
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WINDSOR FELLOWSHIP TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 SEPTEMBER 2023
The Trustees have pleasure in submitting the Report and Accounts for the year ended 30 September 2022.
Objects of the charity
The purpose of the charity is the advancement of the Christian faith in accordance with the Basis of Faith with such other charitable purposes, as shall facilitate the work of the Fellowship.
Summary of the charity's main activities and achievements
There is much to be thankful to God for over the last year, not least the shared worship, growth and fellowship amongst the church membership. We have continued to see new people join us, from an increasing diversity of backgrounds, whilst we have also been sad to say goodbye to some much-loved individuals and families who have moved on. Our overall attendance figures remain stable, and church members are involved in committed service across the life of the church.
Highlights of the year for the church family included a second annual weekend away and deepening friendships in home groups, including the successful beginnings of a new group. Alongside this, we remain thankful for the encouragement and edification that comes from the weekly preaching of the Bible, and administration of the sacraments. Our Minister-in-Training is now well established and has contributed to ministry across church life, including preaching, discipleship, children’s work and music ministry. We were glad to extend his time with us for a second year, and also welcomed Grant Thomas onto the eldership team, replacing Curt Hopkins who stepped aside to serve in other ways.
We continue to seek to serve the people of Windsor and to make known the good news of the Lord Jesus in the town. Amongst other things, we hosted a very well received Roots of Jazz event, with a follow-up Hope Explored course. Busbees, our weekly group parent and toddler group, has continued to serve local families, and our minister has been invited into two different schools. An exciting new initiative saw the formation of a street outreach team, who have engaged in many conversations with passers-by. We remain very conscious of the army barracks which are so close to us and continue to seek to foster relationships there. Whilst Windsor has much prosperity, we are aware there are also many in great need and we want to love them spiritually and practically. As a church, we have continued to support the work of Windsor Christian Action, including the development of the Alma Beacon Hub, and made monthly collections for the Foodshare.
Discussions continued with Oxford Diocese about a possible Bishop’s Mission Order (BMO), but we met with significant difficulties, and have subsequently made the decision, supported by the church membership, to pull out of the process and investigate alternate ways of expressing our Anglican identity and partnering with like-minded churches. We have started the process, which we hope to complete in 2023-24, of joining the Anglican Mission in England (AMIE), an alignment that we anticipate will be a great help in pursuing our objectives.
We continue to enjoy use of the Christ Church URC building in Windsor town centre. We have been blessed by and able to bless in return their congregation, with joint services at major festivals, and our minister continuing to lead a daytime bible study group, offer pastoral support and preach at occasional Sunday morning services for them.
We count it a privilege to support other mission and prayer partners, both in this country and further afield – one partnership came to an end with a service of thanksgiving after the family returned to the UK, whilst we were glad to recommit to support another individual who has returned to the mission field. We have also been glad to give ongoing support to Royal Holloway Christian Union.
In planning the activities the Trustees have applied the guidance on public benefit issued by the Charity Commission.
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WINDSOR FELLOWSHIP TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Financial review
During the year total receipts were £119,095 (2022: £131,371). Total payments were £132,895 (2022: £142,861 ). At year end unrestricted cash reserves were £58,176 (2022: £71,977).
Reserves policy
The Trustees aim to maintain free reserves in unrestricted funds at a level which equates to approximately three months’ unrestricted charitable expenditure. The Trustees consider that this level will provide sufficient funds to manage in the event of a sudden fall in income. The balance held as unrestricted funds at 30 September 2023 was £58,177; budgeted 3 months’ cash payments are approximately £30,000. The Trustees consider that this level of reserves is appropriate as the Church grows and develops plans for future activities, and is in line with the Reserves Policy that they have adopted.
Structure and Management
The Trustees (who are also the members of the CIO) are aware of the objectives and activities of the Church. All Trustees seek to keep abreast of relevant legislation and good practice. On appointment Trustees are given copies of the Annual Report and accounts, the Constitution, and all the Church’s policy documents. The Trustees make all policy decisions. Day to day decisions are made by the Senior Minister with the support of the Elders, but only within the boundaries defined by the Trustees.
Responsibilities of trustees
Charity law requires us as Trustees to prepare financial statements for each accounting year which record the receipts and payments of the charity for the year.
We are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable us to ensure that the financial statements comply with the Charities Act 2011.
We also have a responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities.
Approval
This report was approved by the trustees and signed on their behalf by:
Sam Brewster
……………………………………………………….. Sam Brewster (Apr 1, 2024 06:43 GMT+1) Rev. S. Brewster
Date:_____ Apr 1, 2024
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INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF
WINDSOR FELLOWSHIP TRUST
I report to the trustees on my examination of the accounts of Windsor Fellowship Trust (the charity) for the year ended 30 September 2023 on pages 5 to 7 following.
Responsibilities and basis of report
As the charity trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the accounts do not accord with those records.
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.
Lourens du Plessis
Lourens du Plessis (Apr 2, 2024 09:27 GMT+1)
Lourens du Plessis ACA CA(SA)
Stewardship 1 Lamb's Passage LONDON EC1Y 8AB
Date: Apr 2, 2024
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WINDSOR FELLOWSHIP TRUST
RECEIPTS AND PAYMENTS ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
| Notes Receipts Donations, legacies and grants Gift aid receipts Other income Events Total receipts Payments Direct costs in furtherance of the charity's objectives 2 Loan repayments 7 Loan interest 7 Total payments Net receipts / (payments) before transfers Transfers between funds Net movement in funds Cash funds as at last year end Cash funds at this year end |
Unrestricted funds Restricted funds 2023 Totals 2022 Totals £ £ £ £ 96,189 725 96,914 108,221 16,640 - 16,640 18,756 |
|---|---|
| 112,829 725 113,554 126,977 |
|
| 440 - 440 506 4,891 210 5,101 3,888 |
|
| 118,160 935 119,095 131,371 |
|
| 88,721 935 89,656 72,578 12,105 - 12,105 46,757 31,134 - 31,134 23,526 |
|
| 131,960 935 132,895 142,861 |
|
| (13,800) - (13,800) (11,490) - - - - |
|
| (13,800) (11,490) 71,977 (13,800) 71,977 83,467 |
|
| 58,177 - 58,177 71,977 |
The notes on page 7 form part of these accounts.
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WINDSOR FELLOWSHIP TRUST
STATEMENT OF ASSETS AND LIABILITIES
AT 30 SEPTEMBER 2023
| 1. Fixed assets The assets owned are: Freehold building (Minister's house) at cost Freehold building (Minister's house) improvements at cost Equipment at cost less depreciation 2. Cash funds Cash at bank with immediate access 3. Other monetary assets Gift aid tax recovery not yet received 4. Creditors and amounts payable Pension contributions payable Fees payable for secretarial services Rent of venues for Sunday meetings Accrued loan interest payable 5. Loan secured by mortgage on freehold building Repayable by instalments over the period to 24 February 2026 with interest at 5% p.a. Unbilled fee for accounts preparation and independent examination This loan to the charity has been made by a family relative of a Trustee. |
2023 2022 £ £ 728,016 728,016 139,032 139,032 - 613 |
|---|---|
| 867,048 867,661 |
|
| £ £ 58,177 71,977 |
|
| 58,177 71,977 |
|
| £ £ 690 666 |
|
| 690 666 |
|
| 1,140 1,140 735 125 - 242 150 - 510 249 |
|
| 2,535 1,756 |
|
| 744,150 756,255 |
|
As there is potential for a technical conflict of interest in borrowing from a relative of a Trustee, Charity Commission advice was sought and the Charity Commission confirmed on 22 September 2017 that the arrangements were satisfactory.
The charity has not given any guarantees.
Other than the loan disclosed above, there are no outstanding debts at the date of the statement of assets and liabilities, which are owed and which are secured by an express charge on any of the assets of the charity.
Except where indicated from the statement of receipts and payments or above, all the assets and liabilities are in respect of the charity’s unrestricted funds.
The accounts were approved by the trustees and signed on their behalf
by Sam Brewster Date Sam Brewster (Apr 1, 2024 06:43 GMT+1) --------------------------------------------------------Apr 1, 2024 Rev. S. Brewster
The notes on page 7 form part of these accounts.
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WINDSOR FELLOWSHIP TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1. Accounting policies
The accounts have been prepared on a receipts and payments basis and comprise a statement that shows the charity's receipts and payments, a statement that summarises the charity's assets and liabilities and related notes. The accountancy profession have determined that only accounts prepared in accordance with applicable accounting standards present a 'true and fair' view and, as these receipts and payments accounts have not (and cannot) be prepared in accordance with accounting standards, these accounts do not present (and are not intended to present) a 'true and fair' view of the charity's financial activities and state of affairs.
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.
| 2. Direct costs Employment costs (note 3) Minister's expenses Secretarial services Property costs (note 4) Church expenses Events Insurance Marketing Accounts preparation and examination Mission support grants (note 5) Churches together subscription Administration |
General Restricted Total Total funds funds 2023 2022 £ £ £ £ 57,525 - 57,525 40,305 884 - 884 1,567 3,430 - 3,430 3,540 11,511 - 11,511 9,219 2,601 - 2,601 2,568 6,347 210 6,557 4,277 915 - 915 783 351 - 351 389 1,140 - 1,140 1,020 3,250 725 3,975 7,975 - - - 70 768 - 768 866 |
|---|---|
| 88,721 935 89,656 72,578 |
3. Employees and pensions
In 2023 the charity employed 2 full time employees (2022 1 full time for 12 months and 2 for 1 month).
Windsor Fellowship Trust participates in the Church of England Funded Pensions Scheme for stipendiary clergy, which is a defined benefit pension scheme. This scheme is administered by the Church of England Pensions Board, which holds the assets of the scheme separately from those of participating employers. An actuarial valuation of the scheme is carried out once every three years. The most recent valuation was carried out at as 31 December 2021 which revealed a surplus of £560m, based on assets of £2,720m and a funding target of £2,160m. As the scheme is in surplus, at the present time the Windsor Fellowship Trust does not have a liability for future deficit contributions.
| 4. Property costs | 2023 | 2022 | |||
|---|---|---|---|---|---|
| £ | £ | ||||
| Rent of venues for Sunday meetings | 4,800 | 4,960 | |||
| Council tax and utilities for minister's house | 3,098 | 3,741 | |||
| Maintenance and improvement of minister's house | 3,613 | 517 | |||
| 11,511 | 9,219 | ||||
| 5. Mission support grants | 2023 | 2022 | |||
| £ | £ | ||||
| SIM UK | 2,750 | 3,000 | |||
| European Missionary Fellowship Ukraine Emergency | - | 1,500 | |||
| Charley Maidment Oak Hill Study | - | 1,500 | |||
| Emmanuel Baptist Oradea | - | 1,500 | |||
| 4 grants each less than £250 | 1,225 | 475 | |||
| 3,975 | 7,975 | ||||
| 6. Movement of restricted funds | Balance at | Balance at | |||
| 01/10/22 | Receipts | Payments | Transfers | 30/09/23 | |
| £ | £ | £ | £ | ||
| Christmas Collection for Homeless and Ukraine | - | 725 | (725) | - | - |
| Weekend Away Subsidy | - | 210 | (210) | - | - |
7. Transactions with related parties
Other than interest of £31,134 (2022: £23,526 ) and loan repayments of £12,105 (2022: £46,757) to a family member of a trustee, no amounts were paid to any trustee or to any person connected to them.
8. Contingent liability
Last year the charity reported that they had received notification from Charities Trust in April 2022 that they had made 2 donations of £10,000 each to the charity in error (Jan and Nov 2021), in the context of regular donations received since September 2020 (continuing to the present). The trustees believe these funds were validly received by the charity and Charities Trust have now relinquished their request for these funds to be returned.
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