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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Connect Networking Wolverhampton
TRUSTEES REPORT FOR THE PERIOD ENDED
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:
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Promoting Christian faith and values encompassing all denominations and traditions.
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Promoting collaboration between churches
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Supporting community projects among churches and in collaboration with other
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community agencies
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Supporting Church leaders
ACHIEVEMENTS AND PERFORMANCE
Over the last year Connect has continued to deliver activities in 3 main areas:
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a) Monthly Church Minister meetings have occurred throughout the year and have provided great support and significant encouragement to all those who have attended, which has led not only to the enhancement of individual ministries, but also served to fuel a developing sense of the wider church across the City.
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Number of Ministers in attendance has been maintained throughout with probably a slight increase.
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b) City Wide Prayer is a monthly event whose venue was switched from a regular venue to moving around different host churches, which has worked well and increased numbers attending significantly, especially by the host church. There is a sense of momentum and increased faith and expectation in these meetings.
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c) Easter Saturday gathering. This was the first year that this took place in Queen’s Square, which as a venue worked very well and at a fraction of the cost of previous City centre gatherings. Numbers were on the low side, but the event was well organised and we are confident that this will grow significantly in the coming years.
This year has proved to be one of consolidation as the foundations of the organisation have been simplified and strengthened
enabling us to move forwards with faith and confidence.
FINANCIAL REVIEW
CONNECT made a small financial gain during the last financial year, operating continued reduced activities and keeping expenditure to a minimum whilst still offering the main services listed above. 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 which is likely to be in the first couple of months of 2025.
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-byevent basis to cover the costs of each event the organisation organizes as and when it is required.
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THE TRUSTEE'S OF THE ORGANISATION
Pastor Leon Etten, [Chairperson] Pastor Emmanuel Kapofu, Pastor Steve Uppal, Reverend Richard Merrick Reverend Ian Poole Reverend Simon Woodward
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.
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 Trustee – Pastor Leon Etten
On:
Leon Etten
REGISTERED OFFICE
CONNECT NETWORKING WOLVERHAMPTON
ALL NATIONS CHRISTIAN CENTRE TEMPLE STREET WOLVERHAMPTON WV2 4AQ
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Income and Expenditure 31st December 2024
| Income INCOME & ENDOWMENTS FROM Donations & Legacies Other Income Resources Gift aid Total Income Expenditure EXPENDITURE ON: Charitable Activities Other Activities Total Expenditure Taxation Penalty Net Incoming/ (outgoing) resources Transfers Reserves brought forward Reserves carried forward |
Unrestricted 2024 Restricted Total 1,755 1,755 77 77 1,832 1832 672 672 672 672 1,160 1,160 -1,712 -1,712 -552 -552 |
2023 4,760 842 |
|---|---|---|
| 5,602 569 |
||
| 569 | ||
| 5,033 -6,745 |
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| -1,712 |
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BALANCE SHEET AS AT 31st December 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| Unrestricted funds | Restricted Funds | Total this year | ||
| CURRENT ASSETS | ||||
| Bank and Cash | 1,410 | 1,410 | 1,446 | |
| Total | 1,410 | 1,410 | 1,446 | |
| Short-term Creditors | 0 | 0 | 0 | |
| Short-term Debtors | 38 | 38 | 842 | |
| NET CURRENT ASSETS | 1448 | 1,448 | 2,288 | |
| CURRENT LIABILITIES | ||||
| Long-term Creditors | 2,000 | 2,000 | 4,000 | |
| Total | 2,000 | 2,000 | 4,000 | |
| Total Net Assets | -552 | -1,712 | ||
| Reserves Brought Forward | -1,712 | -6,745 | ||
| Surplus/(Deficit) for period | 1,160 | 5,033 | ||
| Capital Reserves | -552 | -1712 |
For the year ending 31/12/2024, 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
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(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.
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(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:
The accompanying notes form an integral part of these accounts.
Date: 15.01.2025
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st December 2024
GENERAL INFORMATION
- CONNECT is a Charitable Incorporated Organization (CIO) registered in England and Wales under registration 1171158. 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).
- 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.
- 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.
- 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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