2023-12-31-accounts

CONNECT NETWORKING WOLVERHAMPTON (a Charitable Incorporated Organisation)

Un-audited Financial Statement

Company No. CE009653 (England and Wales) Registered Charity No: 1171158

Accounts for the year ended

31st December 2023

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DIRECTORS REPORT FOR THE PERIOD ENDED 31st December 2023

The directors have pleasure in submitting their Report for the period ended 31st December 2023

GENERAL INFORMATION

CONNECT is a Charitable Organisation (CIO) Registered in England and Wales with the Charity Commission under registration Number 1171158. Its registered office is All Nations Christian Centre, Temple Street, Wolverhampton, WV2 4AQ.

OBJECTIVES

• The Charitable objects are the advancement of the Christian Faith in Wolverhampton and surrounding areas by:

• Promoting Christian faith and values encompassing all denominations and traditions.

• Promoting collaboration between churches

• Supporting community projects among churches and in collaboration with other community agencies

• Supporting Church leaders

ACHIEVEMENTS AND PERFORMANCE

Connect has had a year of consolidation, seeking to deepen the bonds of unity between existing churches affiliated to the charity and to widen the invitation to others.

FINANCIAL REVIEW

CONNECT made a small financial gain during the last financial year, partly owing to the reduction in the activities of the organisation as a result of the ongoing COVID-19 Pandemic. This enabled the organisation to continue to repay the long-term loan made by a generous individual to cover the costs of the Ablaze 18 event. The organisation’s priority at this time is to settle the outstanding amount owed at the earliest possible opportunity.

The majority of the charity’s general fund is made up of donations from churches and individuals who benefit from the activities of the organisation.

The organisation currently has a policy not to have any reserves, as there are no ongoing regular financial commitments of the organisation. Fundraising is undertaken on an event-by-event basis to cover the costs of each event the organisation organizes as and when it is required.

THE TRUSTEE'S OF THE ORGANISATION

Reverend Steve Uppal, Reverend Leon Etten, chairperson Reverend Emmanuel Kapofu, Reverend Richard Merrick Reverend Ian Poole Matthieu Lambert (resigned during the course of the year)

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The charity is governed by its governing document, a deed of trust, and constitutes a charitable incorporated organisation under the provisions of The Charitable Incorporated Organisations, (General) Regulations 2012. It is overseen by a steering committee made up of the trustees of the organisation.

In relation to the policies and procedures adopted by CONNECT for the induction and training of trustees, current and any new trustees are referred to guidance from the Charity Commission on their website under the heading of “Trustee Role and Board”. CONNECT provides new trustees with guidance from the charity commission, information about the organisation itself including its policies and procedures and financial status and health.

New trustees are provided with up-to-date charity commission guidance relating to the role and responsibilities of trustees. They are provided with copies of the policies and procedures of the organisation and encouraged to read through them and ask any questions that they may have. The Chair of trustees meets with them to discuss the above documents, answer any questions and ensure that they have understood the requirements of the role that they are being asked to undertake.

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The trustees are all Christian leaders from the city of Wolverhampton and members of congregations that engage actively with the organisation. They all have experience of leadership and governance within various organisations and a number have served on other boards in similar capacities or work operationally in partnership with boards within their own organisation.

ON BEHALF OF THE BOARD

Signed by The Chair of the Trustees – Pastor Leon Etten at the meeting of the Board of Trustees on: 9[th] January 2024.

REGISTERED OFFICE

CONNECT NETWORKING WOLVERHAMPTON ALL NATIONS CHRISTIAN CENTRE TEMPLE STREET WOLVERHAMPTON WV2 4AQ

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Income and Expenditure 31st December 2023

Income

Expenditure

INCOME & ENDOWMENTS FROM Donations & Legacies Other Income Resources Gift aid Total Income EXPENDITURE ON: Charitable Activites Other Activities Total Expenditure Taxation Penalty Net Incoming/ (outgoing) resources Transfers Reserves brought forward Reserves carried forward	Unrestricted 2023 Restricted Total 4,760 4,760 842 842 5,602 5,602 569 569 569 569 5033 5,033 -6,745 -6,745 -1,712 -1,712	2022 3,882
		3,882 692
		692
		3,190 -9,935
		-6,745

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BALANCE SHEET AS AT 31st December 2023

CURRENT ASSETS Bank and Cash Total Short-term Creditors Short-term Debtors NET CURRENT ASSETS CURRENT LIABILITIES Long-term Creditors Total Total Net Assets Reserves Brought Forward Surplus/(Deficit) for period Capital Reserves	2023 Unrestricted funds Restricted Funds 1,446		Total this year 1,446 1,446 0 842		2021 3,155
	1,446 0 842				3,155 0 100
	2,288 4,000		2,288 4,000 4,000 -1,712 -6,745 5033 -1,712		3,255 10,000
	4,000				10,000
					-6,745 -9,935 3,190
					-6,745

For the year ending 31/12/2022, the charitable incorporated organisation is entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The trustees acknowledge their responsibility for

• (a) Ensuring that the charitable incorporated organisation complies with the requirements of the

Act with respect to accounting records and for the preparation of accounts.

• (b) Preparing financial statements which give a true and fair view of the state of affairs of the charitable incorporated organisation as at the end of each financial year and of its surplus or deficit for each financial year.

These accounts have been prepared in accordance with the micro-entity provisions and have been delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.

ON BEHALF OF THE BOARD:

Treasurer

Name: Matthieu Lambert (Treasurer) Signature:

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The accompanying notes form an integral part of these accounts.

Date: 03.01.2024

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st December 2022

GENERAL INFORMATION

1. CONNECT is a Charitable Incorporated Organization (CIO) registered in England and Wales under registration

2. It is the opinion of the Trustees that these financial statements reflect a true and fair view of the assets, liabilities, financial position and financial performance of the entity as at reporting date.

2. Presentation Currency

These financial statements are presented in United Kingdom Pounds because that is the currency of the primary

economic environment in which the Charity operates in.

3. Comparative Information

The Charitable Incorporated Organization (CIO) had its first operating period ending 31 December 2017 after

incorporation. The current financial statements show a comparison of the 2019 financial period compared with the prior reporting period.

SIGNIFICANT ACCOUNTING POLICIES

4. FRS 102

These financial statements have been prepared in accordance with the requirements of FRS 102: The Financial

Reporting Standard applicable in the UK and Republic of Ireland, and the guidance of the relevant Statement of Recommended Practice (SORP).

5. Historical Cost Convention

The financial statements have been prepared on the historical cost basis.

This is generally based on the fair value of the consideration given in exchange for the assets.

6. Going Concern

The Charity is expected to continue to receive positive cash flows from institutional and individual donors to fulfill its charitable mandate. The Trustees have no reason to believe that a material uncertainty exists that may cast Significant doubt about the ability of Charity to continue as a going concern. The Trustees have a reasonable expectation that the Charity will be able to continue in operational existence for the foreseeable future. Therefore, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

7. Accruals Concept

All income and expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where revenue or costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with use of the resources.

8. Non-Current Assets and Depreciation.

The Charity does not hold any non-current assets, and this is reflected in the Financial Statements

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