**REGISTERED COMPANY NUMBER: CE007061 (England and Wales) REGISTERED CHARITY NUMBER: 1168302**
## **REPORT OF THE TRUSTEES AND**
## **UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2023**
## **FOR**
**FAMILY COVENANT CHURCH**
BCD Accountants Limited Second Floor 21 Graham Street Birmingham United Kingdom B1 3JR
**FAMILY COVENANT CHURCH**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|3|
|**Independent Examiner's Report**||4||
|**Statement of Financial Activities**||5||
|**Statement of Financial Position**||6||
|**Notes to the Financial Statements**|7|to|12|
|**Detailed Statement of Financial Activities**||13||
**FAMILY COVENANT CHURCH**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023**
Family Covenant Church (FCC) trustees present their report with the financial statements of the charity for the year ending 31 December 2023. The trustees have adopted the provisions of 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 2015).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
Objects of the charity are:
1) To advance the Christian faith in accordance with any biblical and lawful means, of the gospel of the Lord Jesus Christ and the values associated therewith in the United Kingdom or the world as the trustees may from time to time think fit. 2) To advance education in accordance of Christian principles by such means as trustees may consider appropriate including by means of establishing youth ministry and men and women ministries in the United Kingdom or the world.
3) To relieve persons who are in conditions of need or hardship or who are unwell and to relieve the distress by prayer, bible study and preaching and teaching the word of god.
4) To promote and fulfil other charitable purposes beneficial to the community in the United Kingdom or the world as the trustees may from time to time think fit.
## **Public benefit**
The trustees confirm they have had regard to the Charity Commission’s guidance on public benefit.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
During the year ended 31 December 2023 the total income generated by donations across the nine branches was £111,550.
The Trustees expect that the level of income will enable them to continue to be sustainable in future years through hard work and dedication at promoting the objectives and aims of the charity.
## **Specific investment powers and their authority**
All monies raised by or on behalf of the charity shall be applied to further the objectives of the charity and for no other purpose.
## **FINANCIAL REVIEW**
## **Reserves policy**
During the year ending 31 December 2023 the charity surplus amount reduced to in year expenditure being in excess to the income received. Despite making a deficit in the year, the trustees are pleased and have concluded that there are sufficient funds available to allow the charity to be managed efficiently to achieve their aims and objectives. Also trustees have a resolution to make all church assemblies bank monies with same bank in the United Kingdom.
Trustees hold unrestricted funds that are held to meet any unforeseen expenditure that may occur. The closing unrestricted reserves as at 31 December 2023 was £88,230.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity, being a Charitable Incorporated Organisation (CIO), is controlled by its governing document, a constitution, and is controlled by its trustees.
## **Recruitment and appointment of new trustees**
The recruitment and appointment of any new Trustees must be appointed by a resolution of the Trustees passed by a majority of the Trustees in accordance with the specific details held within the declaration of trust.
## **Organisational structure**
The Trustees may from time to time appoint some persons to act as secretary and treasurer of the Charity and such persons may be (but need not be) trustees.
Page 1
## **FAMILY COVENANT CHURCH**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Wider network**
The nine branches are located in the UK in the following towns and cities:
- Birmingham
- Slough
- London
- Luton - Leicester
- Leeds
- Manchester
- Bristol - Newcastle
## **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.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Company number**
CE007061 (England and Wales)
## **Registered Charity number**
1168302
## **Registered office**
26 Ash Grove Desborough Kettering Northamptonshire NN14 2LD
## **Trustees**
G Chabata Mrs F Faku A Masoso
## **Company Secretary**
## **Independent Examiner**
BCD Accountants Limited Second Floor 21 Graham Street Birmingham United Kingdom B1 3JR
Approved by order of the board of trustees on 18 November 2024 and signed on its behalf by:
Page 2
FAMILY COVENANT CHURCH
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED JI DECEMBER 21123
A Masoso - Truste¢
Page 3
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FAMILY COVENANT CHURCH**
## **Independent examiner's report to the trustees of Family Covenant Church ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
Steven J Bosley FCA
BCD Accountants Limited Second Floor 21 Graham Street Birmingham United Kingdom B1 3JR
18 November 2024
Page 4
## **FAMILY COVENANT CHURCH**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023**
|**2023**
**Unrestricted**
**funds**
Notes
**£**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**111,550**
Investment income
2
**469**
**Total**
**112,019**
**EXPENDITURE ON**
Other
**135,016**
**NET INCOME/(EXPENDITURE)**
**(22,997)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**111,227**
**TOTAL FUNDS CARRIED FORWARD**
**88,230**|2022
Total
funds
£
85,953
31
85,984
125,727
(39,743)
150,970
111,227|
|---|---|
The notes form part of these financial statements
Page 5
## **FAMILY COVENANT CHURCH**
## **STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2023**
|**2023**
**Unrestricted**
**funds**
Notes
**£**
**FIXED ASSETS**
Tangible assets
6
**-**
**CURRENT ASSETS**
Cash at bank and in hand
**93,309**
**CREDITORS**
Amounts falling due within one year
7
**(5,079)**
**NET CURRENT ASSETS**
**88,230**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**88,230**
**NET ASSETS**
**88,230**
**FUNDS**
8
Unrestricted funds
**88,230**
**TOTAL FUNDS**
**88,230**|2022
Total
funds
£
-
114,527
(3,300)
111,227
111,227
111,227
111,227
111,227|
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.
## The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The financial statements were approved by the Board of Trustees and authorised for issue on 18 November 2024 and were signed on its behalf by:
A Masoso - Trustee
The notes form part of these financial statements
Page 6
**FAMILY COVENANT CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Financial reporting standard 102 - reduced disclosure exemptions**
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows;
- the requirement of paragraph 3.17(d);
- the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
- the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. 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.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 20% on cost
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives 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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Going concern**
The financial statements have been prepared using the going concern basis of accounting.
continued...
Page 7
**FAMILY COVENANT CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **2. INVESTMENT INCOME**
|**INVESTMENT INCOME**|||
|---|---|---|
||**2023**|2022|
||**£**|£|
|Deposit account interest|**469**|31|
|**NET INCOME/(EXPENDITURE)**|||
|Net income/(expenditure) is stated after charging/(crediting):|||
||**2023**|2022|
||**£**|£|
|Accountancy|**3,900**|3,300|
## **3. NET INCOME/(EXPENDITURE)**
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
||Unrestricted|
|---|---|
||funds|
||£|
|**INCOME AND ENDOWMENTS FROM**||
|Donations and legacies|85,953|
|Investment income|31|
|**Total**|85,984|
|**EXPENDITURE ON**||
|Other|125,727|
|**NET INCOME/(EXPENDITURE)**|(39,743)|
|**RECONCILIATION OF FUNDS**||
|Total funds brought forward|150,970|
|**TOTAL FUNDS CARRIED FORWARD**|111,227|
continued...
Page 8
**FAMILY COVENANT CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **6. TANGIBLE FIXED ASSETS**
|**TANGIBLE FIXED ASSETS**||
|---|---|
||Equipment|
||£|
|**COST**||
|At 1 January 2023 and 31 December 2023|**5,143**|
|**DEPRECIATION**||
|At 1 January 2023 and 31 December 2023|**5,143**|
|**NET BOOK VALUE**||
|At 31 December 2023|**-**|
|At 31 December 2022|-|
## **7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Social security and other taxes
Accruals and deferred income
**8.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
Birmingham fund account
Slough fund account
London fund account
Leeds fund account
Manchester fund account
Bristol fund account
National fund account
Newcastle fund account
**TOTAL FUNDS**|At 1.1.23
£
**(229)**
**20,968**
**2,600**
**35,526**
**28,646**
**6,260**
**5,147**
**1,730**
**10,579**
**111,227**
**111,227**|**2023**
**£**
**1,179**
**3,900**
**5,079**
Net
movement
in funds
£
**-**
**(5,060)**
**(888)**
**422**
**(1,265)**
**(2,132)**
**(159)**
**(5,247)**
**(8,668)**
**(22,997)**
**(22,997)**|2022
£
-
3,300
3,300
At
31.12.23
£
**(229)**
**15,908**
**1,712**
**35,948**
**27,381**
**4,128**
**4,988**
**(3,517)**
**1,911**
**88,230**
**88,230**|
|---|---|---|---|
continued...
Page 9
## **FAMILY COVENANT CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **8. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
Birmingham fund account
Slough fund account
London fund account
Leeds fund account
Manchester fund account
Bristol fund account
National fund account
Newcastle fund account
**TOTAL FUNDS**|Incoming
resources
£
**6,886**
**7,440**
**25,355**
**15,148**
**6,356**
**1,771**
**30,302**
**18,761**
**112,019**
**112,019**|Resources
Movement
expended
in funds
£
£
**(11,946)**
**(5,060)**
**(8,328)**
**(888)**
**(24,933)**
**422**
**(16,413)**
**(1,265)**
**(8,488)**
**(2,132)**
**(1,930)**
**(159)**
**(35,549)**
**(5,247)**
**(27,429)**
**(8,668)**
**(135,016)**
**(22,997)**
**(135,016)**
**(22,997)**|
|---|---|---|
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
Birmingham fund account
Slough fund account
London fund account
Leeds fund account
Manchester fund account
Bristol fund account
National fund account
Newcastle fund account
**TOTAL FUNDS**|At 1.1.22
£
3,071
25,097
4,278
33,965
41,869
8,062
4,907
12,176
17,545
150,970
150,970|Net
movement
in funds
£
(3,300)
(4,129)
(1,678)
1,561
(13,223)
(1,802)
240
(10,446)
(6,966)
(39,743)
(39,743)|At
31.12.22
£
(229)
20,968
2,600
35,526
28,646
6,260
5,147
1,730
10,579
111,227
111,227|
|---|---|---|---|
continued...
Page 10
**FAMILY COVENANT CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **8. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Birmingham fund account
Slough fund account
London fund account
Leeds fund account
Manchester fund account
Bristol fund account
National fund account
Newcastle fund account
**TOTAL FUNDS**|Incoming
resources
£
-
8,171
7,109
18,912
12,253
2,706
1,956
15,928
18,949
85,984
85,984|Resources
Movement
expended
in funds
£
£
(3,300)
(3,300)
(12,300)
(4,129)
(8,787)
(1,678)
(17,351)
1,561
(25,476)
(13,223)
(4,508)
(1,802)
(1,716)
240
(26,374)
(10,446)
(25,915)
(6,966)
(125,727)
(39,743)
(125,727)
(39,743)|
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
Birmingham fund account
Slough fund account
London fund account
Leeds fund account
Manchester fund account
Bristol fund account
National fund account
Newcastle fund account
**TOTAL FUNDS**|At 1.1.22
£
3,071
25,097
4,278
33,965
41,869
8,062
4,907
12,176
17,545
150,970
150,970|Net
movement
in funds
£
(3,300)
(9,189)
(2,566)
1,983
(14,488)
(3,934)
81
(15,693)
(15,634)
(62,740)
(62,740)|At
31.12.23
£
(229)
15,908
1,712
35,948
27,381
4,128
4,988
(3,517)
1,911
88,230
88,230|
|---|---|---|---|
continued...
Page 11
**FAMILY COVENANT CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **8. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Birmingham fund account
Slough fund account
London fund account
Leeds fund account
Manchester fund account
Bristol fund account
National fund account
Newcastle fund account
**TOTAL FUNDS**|Incoming
resources
£
-
15,057
14,549
44,267
27,401
9,062
3,727
46,230
37,710
198,003
198,003|Resources
Movement
expended
in funds
£
£
(3,300)
(3,300)
(24,246)
(9,189)
(17,115)
(2,566)
(42,284)
1,983
(41,889)
(14,488)
(12,996)
(3,934)
(3,646)
81
(61,923)
(15,693)
(53,344)
(15,634)
(260,743)
(62,740)
(260,743)
(62,740)|
|---|---|---|
## **9. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 December 2023.
Page 12
## **FAMILY COVENANT CHURCH**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Tithes and offerings
**Investment income**
Deposit account interest
**Total incoming resources**
**EXPENDITURE**
**Support costs**
**Management**
Wages
Insurance
Postage and stationery
Pastoral honorarium
Sundries
Hall hire
Travel and subsistence
Pastors allowance
**Governance costs**
Accountancy
Total resources expended
**Net expenditure**|2023
£
**111,550**
**469**
**112,019**
**20,000**
**3,454**
**1,844**
**6,558**
**22,232**
**31,670**
**42,417**
**2,941**
**131,116**
**3,900**
**135,016**
**(22,997)**|2022
£
85,953
31
85,984
-
1,112
1,275
6,550
24,317
32,810
31,267
25,096
122,427
3,300
125,727
(39,743)|
|---|---|---|
This page does not form part of the statutory financial statements
Page 13