DocuSign Envelope ID: 3EF09434-7053-4AFF-B615-9D99A26CD812 **Registered number: 10498312 Charity number: 1172415** ## **CROSSWAY STRATFORD** **(A company limited by guarantee)** ## **UNAUDITED** **ANNUAL REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 DECEMBER 2020** DocuSign Envelope ID: 3EF09434-7053-4AFF-B615-9D99A26CD812 ## **CROSSWAY STRATFORD** ## **(A company limited by guarantee)** ## **CONTENTS** ||Page| |---|---| |**Reference and administrative details of the company, its trustees and advisers**|1| |**Annual report**|2 - 6| |**Independent examiner's report**|7| |**Statement of financial activities**|8| |**Balance sheet**|9| |**Notes to the financial statements**|10 - 22| DocuSign Envelope ID: 3EF09434-7053-4AFF-B615-9D99A26CD812 ## **CROSSWAY STRATFORD** ## **(A company limited by guarantee)** ## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020** **Trustees** Reverend Jamie Child Samuel Gamblen (resigned 31 August 2020) Alasdair Henderson Daniel McIntosh Michael Bajomo (appointed 28 April 2021) **Company registered number** 10498312 **Charity registered number** 1172415 **Registered office** 194 Humberstone Road London E13 9NQ **Treasurer** Alan Bright **Company secretary** Yasmin Bartlett **Accountants** Griffin Stone Moscrop & Co Chartered Accountants 21-27 Lamb's Conduit Street London WC1N 3GS Page 1 DocuSign Envelope ID: 3EF09434-7053-4AFF-B615-9D99A26CD812 ## **CROSSWAY STRATFORD (A company limited by guarantee)** ## **ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2020** ## **Context:** Crossway Stratford is primarily focused on the Stratford and New Town area of East London but in keeping with the character of Stratford, we connect with London’s networker population such that our mission extends beyond the strict boundaries of the Stratford and New Town area to reach many in East London with the gospel of Jesus Christ. The immediate area, following the continued Olympics legacy, is still undergoing rapid growth and the wider borough of Newham is home to over 300,000 people, with a radically diverse population. Businesses, universities and other enterprises continue to move to the area, with Newham population figures estimated to grow towards 400,000 by 2025. The calendar year 2020 was impacted considerably by the COVID-19 pandemic. Since March 2020 the majority of Crossway Stratford’s activities have taken place online in accordance with government guidance and restrictions on churches gathering. These changes will be outlined throughout the report; in light of this the numbers quoted will be those from March 2020 onwards. The vision to reach many in East London and beyond has remained the same and Crossway Stratford is committed to making use of technology to continue our mission. As of 17 March 2020 Crossway Stratford has been unable to meet at University Square Stratford (USS), the venue we had met at since September 2016, due to COVID-19 restrictions. Since then, we have been able to secure meeting space at the VUE cinema in Westfield, Stratford for our Sunday Morning Meeting where we have been able to meet three times towards the end of 2020. On 16 December 2020 London entered tier 3 of COVID restrictions and therefore we have been unable to meet at the VUE cinema since 13 December 2020 due to the fact that cinemas are unable to open; the ongoing COVID situation has meant that alternative venues are not an option to regularly meet in on Sundays. As such, Crossway Stratford’s Sunday meetings remained online at the close of the calendar year. The Leadership, in coordination with the Staff team, are committed to seeking to meet physically together on a regular basis in a COVID-secure way wherever possible and will be continuing to explore alternative venue and meeting options in 2021. ## **Achievements and performance:** Crossway Stratford is a church meeting in Stratford, East London. It began its life in September 2016 with a group of approximately 60 adults and 10 children. In February 2020 before the COVID pandemic there was an average attendance of 150 adults and 45 children at the morning meeting and 45 at the evening meeting. Throughout 2020 and the COVID-19 pandemic it has continued to meet on Sundays and midweek, mainly online. By the end of the reporting period it had an average online attendance of 176 screens at its pre-recorded Sunday morning meeting meetings and 70 screens at its pre-recorded evening meetings, with approximately 193 people meeting in midweek small groups. These meetings have also been joined by new people who have joined Crossway Stratford throughout the year. By God’s grace it has also grown in maturity and unity. During times where the coronavirus infection rate has been lower in Newham, Crossway Stratford has ‘livestreamed’ its Sunday meetings in a COVID-secure way, supported by a small team of people who have been essential to the running of the meeting. The livestreams have been very successful and have seen average attendance of 251 screens per Sunday morning meeting and 88 screens at the evening meeting. Note that in homes where families, married couples and housemates are represented the number of individuals attending our virtual services will be higher than the number of screens as one screen will represent multiple individuals. Crossway Stratford was granted charitable status on 4 April 2017. It functions as a church within the structures of the Church of England having been granted a Bishop’s Mission Order (BMO) from the beginning of September 2017. The Senior Minister Reverend Jamie Child was granted a licence by Chelmsford Diocese in July 2018. Page 2 DocuSign Envelope ID: 3EF09434-7053-4AFF-B615-9D99A26CD812 ## **CROSSWAY STRATFORD (A company limited by guarantee)** ## **ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020** ## **1. Discipleship and pastoral support: Sunday meetings** Crossway’s Online Sunday meetings (Sundays at 10.30 and 5.30 on YouTube) centre on the faithful teaching of the Scriptures and Christian education. During the reporting year we taught through the books of John, James, 1 Samuel, Philippians, Mark, Isaiah and Psalms. The attendance at these meetings grew across the course of the year with an average by the end of 2020 of 200 screens on Sunday morning, and 75 screens on Sunday evening. The church meets currently largely online and at the VUE cinema in Westfield, Stratford when COVID restrictions permit. Even throughout 2020 we have had new people join us whether coming across our YouTube channel, or looking for a church to join, or those who find out about us from our website (www.crosswaystratford.org), or come because they are invited by a friend. ## **Midweek small groups** Approximately 193 people are members of small groups which meet on Wednesday and Thursday evenings on Zoom. During 2020 those small groups have finished working through the book of Isaiah, Mark’s gospel and the first half of John’s gospel. As well as providing further opportunity for Bible study and prayer these groups also provide a significant amount of pastoral support by creating smaller settings in which care can better be provided. These groups have offered support for people struggling with mental, physical and financial problems as well as creating a forum for strengthened relationships. The groups are overseen by the senior leadership and staff of Crossway. ## **Sunday school (‘Crossway Kids’)** Throughout 2020 the Crossway Kids teams have provided age-appropriate resources for parents to utilise with their children at home, these are linked to what the adults have been learning on Sunday mornings in the main meeting. The leadership also seek to regularly include child-friendly content in our online Sunday meeting to help the children engage. When it has been possible to meet at VUE cinema there are Crossway Kids groups where children aged 3 and above are taught in engaging and age-appropriate ways. All of these groups are resourced by a trained and DBS-checked group of volunteers, the 3 groups have an overall average attendance of approximately 32 children per week not including the 30 creche-aged children. There are plans to start an online Crossway Kids session in 2021 to take place during the Sunday morning meeting for children aged 3 and above. Training is provided for the leaders of the children’s groups on how to lead Sunday school groups (both physical and on Zoom) and in safeguarding. ## **Youth Group (‘Youth Extra’)** Members of the church family aged 11-18 come along to the online Sunday morning meeting and remain in it for the duration of that meeting. However, in order to help them engage, learn and pray more effectively Crossway runs an online meeting after the main meeting for this group. In the 40 minutes they have together after the Sunday morning meeting, the group plays games, talks about the sermon and prays together in a way that best serves that age group. ## **Weekends Away** Crossway Stratford had two online weekends at home in 2020 with approximately 240 screens tuning in for each of those. These weekends primarily focussed on the Bible's teaching on the tongue and our speech, and then on the Bible’s teaching about the future and the return of Jesus. These weekends were free for those attending. ## **Student support ministry** The aim of this ministry is to support students, both to grow their faith if they consider themselves Christian and to provide resources for students who want to find out more about Christian teaching. This year has been a difficult one for students and it has been hard to connect with students in lock-down conditions. Our ministry apprentice has continued to provide support for the small number of students around, including regular gatherings for Bible study and socialising. Page 3 DocuSign Envelope ID: 3EF09434-7053-4AFF-B615-9D99A26CD812 ## **CROSSWAY STRATFORD (A company limited by guarantee)** ## **ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020** ## **Workplace support ministry** Crossway Stratford has continued to work with people whose normal workplace prior to the pandemic was ‘The International Quarter and ‘Here East.’ The aim is to serve Christian people and interested enquirers into the Christian faith. Prior to March 2020 ‘The Stratford Talks’ met weekly on Wednesday lunchtimes and had an approximate average attendance of 30 people each week. This group also organised a carol service and held frequent prayer meetings for those who partner in this work. ‘The Stratford Talks’ meets in the Bat and Ball pub in the Westfield Shopping Centre. As a result of the COVID-19 pandemic and the work from home order ‘The Stratford Talks’ met mainly online with a monthly prayer meeting taking place from September-December. The plan has been to reintroduce Bible talks for Christians and enquirers in 2021. Guests have come along to these meetings and have been very welcome. The leadership team are planning towards a relaunch in September 2021 to coincide with workers returning to offices. Members of the staff team have supported the workplace group at ‘Here East’ in the north-west part of the Queen Elizabeth Olympic Park by preparing talks and praying. ## **Trainees at Crossway** In September 2020 two of the current Ministry Trainees continued for a second year. These two individuals continued to be self-supported and have continued to engage in training outside Crossway as well as serving in ministry at Crossway and benefiting from ‘in-house’ training provided by Crossway. ## **Staff movements** Crossway Stratford made two new staff appointments in September 2020. Chris Chambers who had previously been a Ministry Assistant for the past two years at Crossway Stratford took up the part-time role of Community Outreach Worker. Sam Gamblen who has been serving as an Elder and Trustee of Crossway Stratford since September 2016 took up the full-time role of Assistant Minister. ## **Other informal ministries** Crossway Stratford makes a point of trying to stimulate, support and equip people for more spontaneous expressions of pastoral support and discipleship outside of the formal structures that have been put in place to enable this. These include, but are not limited to, book groups that read and discuss Christian literature; 1-1 meetings to enable individuals to find pastoral support, study the scriptures and find out more about the Christian faith; midweek women’s groups which discuss the Sunday sermon together; preaching practice groups; and Bible study training groups. In light of the COVID pandemic, several new ministry initiatives began. The leadership team created a specific COVID Hardship Fund for members of Crossway Stratford who were facing financial difficulties due to the effects of the pandemic: members of Crossway Stratford gave generously to this fund and the money was able to be used to assist various individuals within the church. In March 2020 the East Village Playgroup was due to launch, however due to the pandemic this was not possible and the group launched Lockdown Baby Club in October 2020, designed to support new and expectant mums in lockdown. In November 2020 a support group was launched for new and expecting dads to give them support throughout this transition time. The pandemic has required significant learning and innovation in the area of media and technology. This has led to the creation of resources that have been easily shared online and have generally extended the reach of Crossway. ## **2. Evangelism and outreach: Sunday meetings** Every online Sunday meeting takes place on YouTube on the Crossway Stratford YouTube channel, these details are also well advertised on our website. Each week there is also a ‘virtual coffee’ session where all are welcome to come and connect with other church members and discuss the sermons and get to know people. Page 4 DocuSign Envelope ID: 3EF09434-7053-4AFF-B615-9D99A26CD812 ## **CROSSWAY STRATFORD (A company limited by guarantee)** ## **ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020** ## **Guest Sundays** Each term we have had a specific Sunday with a guest speaker and a talk subject designed to engage those who are looking into the Christian faith. The Sundays before Christmas in 2020 saw Crossway host 4 carol services (2 were physical, pre-tier 3 and 2 were online) to which friends, family and colleagues came along. One of these was an all-age service designed to engage people at every stage of life. ## **Christianity Explored** In 2020 we ran two ‘Christianity Explored’ courses, 1 in person and 1 online; these courses are designed to be really accessible to those looking into the Christian faith, a place to ask questions and explore what Christianity is all about. ## **Youth Outreach (‘Friday night Youth’)** During 2020 the youth group met online on Friday nights. 8-10 young people were in regular attendance with encouraging signs of growth. The group exists in order to engage local youth with the Christian message. ## **Missionary support** Crossway supports four missionaries; Luigi Palombo (currently in London studying theology full-time in anticipation of returning to Italy for the long-term), Lea Laurovicova (in Slovakia), the Pope family (in Santiago, Chile) and Portia Yiadom (in Accra, Ghana). All of these mission-partners work full-time to proclaim the Christian gospel, bringing people to believe in Jesus and live in keeping with his teachings. Crossway supports these missionaries financially, in prayer, and in practical support where possible. ## **Christians Against Poverty** In September 2020 Crossway began a partnership with Christians Against Poverty. Chris Chambers, our Community Outreach Worker undertook training in November to become a Debt Centre Manager and began to build a team of befrienders to begin meeting clients. The Debt Centre will aim to connect with several individuals struggling with debt with a view to helping them get out of long-term debt, provide other support where appropriate, and to introduce them to Christians and the message of the Gospel. ## **Looking forward** At the end of 2019 plans were forming to begin a process of planning for the next 5-10 years. The next step in that process was to start a discussion among the church family about various different opportunities including purchasing a building, planting new churches, supporting new workers, and supporting other new or existing ministries. As a result of the pandemic this discussion is currently on pause whilst we rebuild after the changes and challenges of the COVID-19 pandemic. The hope is that 2021 will be a year of positive change as far as the pandemic is concerned and that we will be able to re-engage the church family in this forward-thinking conversation. ## **Financial review:** The financial statements are for the year to 31 December 2020. Total unrestricted income during this period was £335,841 and restricted income was £28,875. Total unrestricted expenditure in the period was £267,482 and restricted expenditure was £6,983. The income was almost exclusively made up of giving and other income from members of the congregation. 73% of giving was in the form of regular donations (including claimed Gift Aid). ## **Reserves policy** Crossway Stratford intends to pursue a reserves policy of holding the equivalent of three months’ unrestricted operating and staff costs. At the end of 2020 these reserves were in place within the Crossway Stratford account. Page 5 DocuSign Envelope ID: 3EF09434-7053-4AFF-B615-9D99A26CD812 ## **CROSSWAY STRATFORD (A company limited by guarantee)** ## **ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020** ## **Risks and uncertainties** The main risks and uncertainties facing Crossway Stratford are as follows: ## **Operational risks to health and safety and safeguarding of children and vulnerable adults** The church safeguarding officer in 2020 has continued to be Hanna Dirksen who has liaised regularly with the Chelmsford Diocese safeguarding team. Crossway Stratford has adopted the Church of England’s National Safeguarding Policy. Mrs Dirksen liaises with the trustees on any safeguarding matters. ## **Financial risks** The trustees recognise that the main financial uncertainties arise from the need to provide financially for the staff members and to provide adequate meeting space for the church. These uncertainties have been managed on a day-to-day basis by the Church Operations Manager, Senior Minister and Church Treasurer with regular oversight by the trustees. ## **Structures and governance:** Crossway Stratford obtained company status (10498312) on 25 November 2016, and charity status (1172415) on 4 April 2017. It is managed by its trustees, under the terms of its constitution, and is a public benefit entity. The Reverend Jamie Child, Mr Alasdair Henderson and Mr Daniel Mcintosh are trustees on fixed terms and renewed by congregational votes at the end of their respective terms as laid out in the constitution. They meet six or seven times a year. Mr Samuel Gamblen resigned from his role as trustee on 31 August 2020 as he took up the full-time paid position of Assistant Minister at Crossway Stratford on 1 September 2020. The church has a ‘council’ which met three times in 2020. This comprises a godly, mature group of 10-12 men and women to whom the trustees look for wisdom and guidance in their decision-making. Crossway also has a group of trained small group leaders who represent an excellent source of wisdom and leadership in the life of the church. The church held its Annual General Meeting (also referred to as the ‘Annual Vision Meeting’) in April 2021 for the whole church family. ## **Volunteers:** The life of Crossway Stratford is in large part dependent upon the generous partnership of volunteers who consider themselves part of the church family. Most of what has been achieved, under God, would not have been possible without their time, gifts, resources and commitment. The trustees want to put on record their gratitude to God and these volunteers. Approved by order of the members of the board of trustees and signed on their behalf by: ................................................ **Reverend Jamie Child** (Trustee) 19/9/2021 Date: Page 6 DocuSign Envelope ID: 3EF09434-7053-4AFF-B615-9D99A26CD812 ## **CROSSWAY STRATFORD (A company limited by guarantee)** ## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2020** ## **Independent examiner's report to the trustees of Crossway Stratford ('the charitable company')** I report to the charity trustees on my examination of the accounts of the charitable company for the year ended 31 December 2020. ## **Responsibilities and basis of report** As the trustees of the charitable company (and 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 charitable 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 the charitable company's accounts 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** Since the charitable company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. 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 charitable 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. This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charitable company's trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a body, for my work or for this report. Signed: Dated: 20/9/2021 Richard Hill FCA **Griffin Stone Moscrop & Co** Chartered Accountants 21-27 Lamb's Conduit Street London WC1N 3GS Page 7 DocuSign Envelope ID: 3EF09434-7053-4AFF-B615-9D99A26CD812 ## **CROSSWAY STRATFORD** ## **(A company limited by guarantee)** ## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2020** |**Note**
**Income from:**
Donations
3
Charitable activities
4
Investments
5
**Total income**
**Expenditure on:**
Charitable activities
6
**Total expenditure**
**Net income**
Transfers between funds
15
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2020**
**£**
**334,129**
**1,102**
**610**
**335,841**
**267,482**
**267,482**
**68,359**
**(1,247)**
**67,112**
**267,276**
**67,112**
**334,388**|**Restricted**
**funds**
**2020**
**£**
**28,875**
**-**
**-**
**28,875**
**6,983**
**6,983**
**21,892**
**1,247**
**23,139**
**2,001**
**23,139**
**25,140**|**Total**
**funds**
**2020**
**£**
**363,004**
**1,102**
**610**
**364,716**
**274,465**
**274,465**
**90,251**
**-**
**90,251**
**269,277**
**90,251**
**359,528**|Total
funds
2019
£
435,210
34,399
-| |---|---|---|---|---| |||||469,609| |||||358,632| |||||358,632| |||||110,977
-| |||||110,977| |||||158,300
110,977| |||||269,277| The statement of financial activities includes all gains and losses recognised in the year. The notes on pages 10 to 22 form part of these financial statements. Page 8 DocuSign Envelope ID: 3EF09434-7053-4AFF-B615-9D99A26CD812 ## **CROSSWAY STRATFORD (A company limited by guarantee) REGISTERED NUMBER: 10498312** ## **BALANCE SHEET AS AT 31 DECEMBER 2020** |**Note**
**Current assets**
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within one
year
13
**Net current assets**
**Total net assets**
**Charity funds**
Restricted funds
15
Unrestricted funds
15
**Total funds**|**10,558**
**352,360**
**362,918**
**(3,390)**|**2020**
**£**
**359,528**
**359,528**
**25,140**
**334,388**
**359,528**|8,910
284,586
293,496
(24,219)|2019
£
269,277| |---|---|---|---|---| |||||| |||||269,277| |||||2,001
267,276| |||||| |||||269,277| The company was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006 ('the Act'). The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the trustees and signed on their behalf by: ................................................ **Reverend Jamie Child** (Trustee) Date: 19/9/2021 The notes on pages 10 to 22 form part of these financial statements. Page 9 DocuSign Envelope ID: 3EF09434-7053-4AFF-B615-9D99A26CD812 # **CROSSWAY STRATFORD (A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ## **1. General information** Crossway Stratford is a private company limited by guarantee without share capital, and is incorporated in the United Kingdom and registered in England and Wales. It is also registered as a charity with the Charity Commission for England and Wales. Crossway Stratford’s registered office address is 194 Humberstone Road, London, E13 9NQ. The financial statements are prepared in sterling and are rounded to the nearest £1. ## **2. Accounting policies** ## **2.1 Basis of preparation of financial statements** The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Crossway Stratford meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. ## **2.2 Going concern** At the time of approving the financial statements the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **2.3 Income** Planned giving, collections and similar donations are recognised when received. Tax refunds are recognised when the incoming resource to which they relate is received. Interest is accounted for when received. ## **2.4 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 on charitable activities is incurred on directly undertaking the activities which further the charitable company's objectives, as well as any associated support costs. Any Common Fund contributions (none currently) are accounted for when payable. Any amount pledged but unpaid at 31 December is shown as a creditor in the balance sheet. Grants and donations are accounted for when paid, or when awarded, if that award creates a binding obligation. All other expenditure is accounted for on the accruals basis. All expenditure is inclusive of irrecoverable VAT. Page 10 DocuSign Envelope ID: 3EF09434-7053-4AFF-B615-9D99A26CD812 ## **CROSSWAY STRATFORD (A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ## **2. Accounting policies (continued)** ## **2.5 Tangible fixed assets and depreciation** Tangible fixed assets costing more than £2,000 are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Individual items of equipment with a purchase price of £2,000 or less are written off when the asset is acquired. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Equipment used within the church premises is depreciated on a straight-line basis over three years. ## **2.6 Debtors** Debtors are recognised at the settlement amount. ## **2.7 Cash at bank and in hand** Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **2.8 Liabilities and provisions** Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charitable company anticipates it will pay to settle the debt. ## **2.9 Financial instruments** The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. ## **2.10 Pensions** The charitable company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the charitable company to the fund in respect of the year plus amounts recharged by the Great St Helen's Trust in respect of the Reverend Jamie Child. Page 11 DocuSign Envelope ID: 3EF09434-7053-4AFF-B615-9D99A26CD812 ## **CROSSWAY STRATFORD (A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ## **2. Accounting policies (continued)** ## **2.11 Fund accounting** General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charitable company and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charitable company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. ## **3. Income from donations** |**Unrestricted**
**funds**
**2020**
**£**
Regular donations (excluding Gift Aid)
212,005
One-off donations (excluding Gift Aid)
74,867
Gift Aid
47,227
Giving for Olly Hallett Support Fund
(restricted)
-
Workplace Ministry Fund (restricted)
-
Other unrestricted income
30
Other restricted income
-
**Total 2020**
334,129
Total 2019
414,277|**Restricted**
**funds**
**2020**
**£**
-
20,850
-
-
8,025
-
-
28,875
20,933|**Total**
**funds**
**2020**
**£**
**212,005**
**95,717**
**47,227**
**-**
**8,025**
**30**
**-**
**363,004**
435,210|Total
funds
2019
£
211,209
137,619
65,021
6,650
14,174
428
109| |---|---|---|---| ||||435,210| ||||| All the above income is unrestricted unless otherwise indicated. Page 12 DocuSign Envelope ID: 3EF09434-7053-4AFF-B615-9D99A26CD812 ## **CROSSWAY STRATFORD** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ## **4. Income from charitable activities** |**Unrestricted**
**funds**
**2020**
**£**
Weekend Away income
77
Books
1,025
**Total 2020**
1,102
Total 2019
34,399
**5.**
**Investment income**
**Unrestricted**
**funds**
**2020**
**£**
Bank interest
610
**6.**
**Analysis of expenditure on charitable activities**
**Summary by fund type**|**Total**
**funds**
**2020**
**£**
**77**
**1,025**
**1,102**
34,399
**Total**
**funds**
**2020**
**£**
**610**|Total
funds
2019
£
32,319
2,080| |---|---|---| |||34,399| |||Total
funds
2019
£
-| |||| |**Unrestricted**
**funds**
**2020**
**£**
Charitable activities
267,482
Total 2019
330,025|**Restricted**
**funds**
**2020**
**£**
6,983
28,607|**Total**
**funds**
**2020**
**£**
**274,465**
358,632|Total
funds
2019
£
358,632| |---|---|---|---| ||||| Page 13 DocuSign Envelope ID: 3EF09434-7053-4AFF-B615-9D99A26CD812 ## **CROSSWAY STRATFORD** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ## **6. Analysis of expenditure on charitable activities (continued)** ## **Summary by expenditure type** |Charitable activities
Total 2019|**Staff costs**
**2020**
**£**
196,568
208,843|**Other costs**
**2020**
**£**
77,897
149,789|**Total**
**funds**
**2020**
**£**
**274,465**
358,632|Total
funds
2019
£
358,632| |---|---|---|---|---| |||||| ## **7. Analysis of expenditure by activities** |Charitable activities
Total 2019|**Activities**
**undertaken**
**directly**
**(see below)**
**2020**
**£**
249,546
340,329|**Grant**
**funding of**
**activities**
**(note 8)**
**2020**
**£**
14,630
705|**Support**
**costs**
**(see below)**
**2020**
**£**
10,289
17,598|**Total**
**funds**
**2020**
**£**
**274,465**
358,632|Total
funds
2019
£
358,632| |---|---|---|---|---|---| ||||||| Page 14 DocuSign Envelope ID: 3EF09434-7053-4AFF-B615-9D99A26CD812 ## **CROSSWAY STRATFORD** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ## **7. Analysis of expenditure by activities (continued)** ## **Analysis of direct costs** |Staff costs (note 10)
Mission Partners
Crossway Kids
Guest events
Weekend Away cost
Staff training
Music and IT
Books
Lord's Supper
Bibles and Gospels
Refreshments
Rent (venue)
**Total 2020**
Total 2019|**Activities**
**2020**
**£**
196,568
19,080
664
598
-
6,870
18,984
906
70
195
575
5,036
249,546
340,329|**Total**
**funds**
**2020**
**£**
**196,568**
**19,080**
**664**
**598**
**-**
**6,870**
**18,984**
**906**
**70**
**195**
**575**
**5,036**
**249,546**
340,329|Total
funds
2019
£
208,843
23,995
480
277
46,965
7,200
1,598
1,617
83
294
3,538
45,439| |---|---|---|---| ||||340,329| ||||| Page 15 DocuSign Envelope ID: 3EF09434-7053-4AFF-B615-9D99A26CD812 ## **CROSSWAY STRATFORD** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ## **7. Analysis of expenditure by activities (continued)** ## **Analysis of support costs** |Rent (office)
Hospitality
Travel
Printing, postage and stationery
Internet
Repairs and maintenance
Insurance
Bank charges
Payroll processing
Gifts
Promotion
Other expenses
Governance costs: Preparation and examination of annual
financial statements
**Total 2020**
Total 2019|**Activities**
**2020**
**£**
894
438
487
2,507
66
27
390
110
680
1,510
374
93
2,713
10,289
17,598|**Total**
**funds**
**2020**
**£**
**894**
**438**
**487**
**2,507**
**66**
**27**
**390**
**110**
**680**
**1,510**
**374**
**93**
**2,713**
**10,289**
17,598|Total
funds
2019
£
6,533
748
602
1,520
15
379
387
55
680
-
-
5,179
1,500| |---|---|---|---| ||||17,598| ||||| ## **8. Analysis of grants** |Charitable grants
Total 2019|**Grants to**
**institutions**
**2020**
**£**
13,350
650|**Grants to**
**individuals**
**2020**
**£**
1,280
55|**Total**
**funds**
**2020**
**£**
**14,630**
705|Total
funds
2019
£
705| |---|---|---|---|---| |||||| Page 16 DocuSign Envelope ID: 3EF09434-7053-4AFF-B615-9D99A26CD812 ## **CROSSWAY STRATFORD** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** |**9.**
**Governance costs - independent examiner's remuneration**
Preparation and independent examination of annual financial statements
**10.**
**Staff costs**
Gross salaries
Employers' NI
Pension costs
Clergy rental costs
Other staff costs|**2020**
**£**
**2,713**
**2020**
**£**
**137,374**
**9,020**
**24,003**
**26,171**
**-**
**196,568**|2019
£
1,500| |---|---|---| |||2019
£
143,787
10,965
25,197
25,980
2,914| |||| |||208,843| The average number of persons employed by the charitable company during the year was as follows: ||**2020**|2019| |---|---|---| ||**No.**|No.| |Full-time staff|**4**|5| No employee received remuneration amounting to more than £60,000 in either year. The highest remunerated member of staff was Reverend Jamie Child (as detailed in note 11). ## **11. Trustees' remuneration and expenses** During the year ended 31 December 2020, the Reverend Jamie Child was paid a stipend, pension and accommodation costs which were in accordance with the Diocese of London standard rates for the period. Reverend Jamie Child was paid through the Diocese of London for the whole period (though all his costs are recharged by the Great St Helen's Trust, a trust associated with St Helen's Bishopsgate, and covered by Crossway Stratford through Crossway Stratford's own bank account). Crossway Stratford provides accommodation for the Reverend Jamie Child, and rent was paid by Crossway Stratford for 192 Portway to the Great St Helen's Trust, a trust associated with St Helen's Bishopsgate. The intention is for the Reverend Jamie Child and his family to continue to occupy 192 Portway, with a rental agreement in place with the Great St Helen's Trust. Page 17 DocuSign Envelope ID: 3EF09434-7053-4AFF-B615-9D99A26CD812 ## **CROSSWAY STRATFORD** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ## **Trustees' remuneration and expenses (continued)** During the year the following amounts were paid: |||**2020**|2019| |---|---|---|---| |||**£**|£| |Reverend Jamie Child|Stipend|**29,900**|29,300| ||Pension contributions paid|**10,000**|9,800| ||Other benefits|**26,171**|25,980| During the year ended 31 December 2020, expenses totalling £1,743 were reimbursed or paid directly to 1 trustee (2019 - £1,204 to 1 trustee). ## **12. Debtors** |**Due within one year**
Other debtors
Tax recoverable|**2020**
**£**
**-**
**10,558**
**10,558**|2019
£
79
8,831| |---|---|---| |||| |||8,910| ## **13. Creditors: amounts falling due within one year** |Accruals
**14.**
**Financial instruments**
**Financial assets**
Financial assets measured at fair value through income and expenditure|**2020**
**£**
**3,390**
**2020**
**£**
**352,360**|2019
£
24,219| |---|---|---| |||2019
£
284,586| Financial assets measured at fair value through income and expenditure comprise cash at bank and in hand. Page 18 DocuSign Envelope ID: 3EF09434-7053-4AFF-B615-9D99A26CD812 ## **CROSSWAY STRATFORD (A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ## **15. Statement of funds** ## **Statement of funds - current year** |**Unrestricted funds**
**Designated fund**
Futures Fund
**General funds**
General Fund
**Total unrestricted funds**
**Restricted funds**
Workplace Ministry Fund
Weekends Support Fund
Hardship Fund
**Total funds 2020**|**Balance at 1**
**January**
**2020**
**£**
**80,000**
**187,276**
**267,276**
**2,001**
**-**
**-**
**2,001**
**269,277**|**Income**
**£**
**-**
**335,841**
**335,841**
**8,025**
**-**
**20,850**
**28,875**
**364,716**|**Expenditure**
**£**
**-**
**(267,482)**
**(267,482)**
**(5,473)**
**-**
**(1,510)**
**(6,983)**
**(274,465)**|**Transfers**
**in/(out)**
**£**
**30,000**
**(31,247)**
**(1,247)**
**812**
**435**
**-**
**1,247**
**-**|**Balance at**
**31**
**December**
**2020**
**£**
**110,000**| |---|---|---|---|---|---| ||||||**224,388**| ||||||**334,388**| ||||||**5,365**
**435**
**19,340**| ||||||**25,140**| ||||||**359,528**| Page 19 DocuSign Envelope ID: 3EF09434-7053-4AFF-B615-9D99A26CD812 ## **CROSSWAY STRATFORD** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ## **15. Statement of funds (continued)** ## **Statement of funds - prior year** |**Unrestricted funds**
**Designated fund**
Futures Fund
**General funds**
General Fund
**Total unrestricted funds**
**Restricted funds**
Olly Hallett Support Fund
Workplace Ministry Fund
Christmas Charity Fund
**Total funds 2019**|Balance at
1 January
2019
£
26,000
135,493
161,493
(5,861)
2,668
-
(3,193)
158,300|Income
£
-
448,676
448,676
6,650
14,174
109
20,933
469,609|Expenditure
£
-
(330,025)
(330,025)
(13,657)
(14,841)
(109)
(28,607)
(358,632)|Transfers
in/(out)
£
54,000
(66,868)
(12,868)
12,868
-
-
12,868
-|Balance at
31
December
2019
£
80,000| |---|---|---|---|---|---| ||||||187,276| ||||||267,276| ||||||-
2,001
-| ||||||2,001| ||||||269,277| The aims and uses of the major designated and restricted funds are as follows: **Futures Fund** – funds designated by the elders for church planting from Crossway and for building purchase – either for the church to meet in or for staff housing. The intention is that 10% of the church’s annual budget has this future focus. **Workplace Ministry Fund** – for funds received relating to the establishment and continuation of a Workplace Ministry in Stratford named ‘Stratford Talks'. **Weekends Support Fund** – funds received specifically for helping people to attend church weekends away. **Hardship Fund** – for funds received specifically towards relieving hardship within the local community as and when it arises. **Olly Hallett Support Fund** – for funds received from supporters of Olly Hallett for the purpose of funding his training (30% of gross salary and tuition fees). Page 20 DocuSign Envelope ID: 3EF09434-7053-4AFF-B615-9D99A26CD812 ## **CROSSWAY STRATFORD** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ## **16. Summary of funds** ## **Summary of funds - current year** |Designated funds
General funds
Restricted funds
**Total funds 2020**|**Balance at 1**
**January**
**2020**
**£**
**80,000**
**187,276**
**2,001**
**269,277**
Balance at
1 January
2019
£
26,000
135,493
(3,193)
158,300|**Income**
**£**
**-**
**335,841**
**28,875**
**364,716**
Income
£
-
448,676
20,933
469,609|**Expenditure**
**£**
**-**
**(267,482)**
**(6,983)**
**(274,465)**
Expenditure
£
-
(330,025)
(28,607)
(358,632)|**Transfers**
**in/(out)**
**£**
**30,000**
**(31,247)**
**1,247**
**-**
Transfers
in/(out)
£
54,000
(66,868)
12,868
-|**Balance at**
**31**
**December**
**2020**
**£**
**110,000**
**224,388**
**25,140**| |---|---|---|---|---|---| ||||||**359,528**| ||||||Balance at
31
December
2019
£
80,000
187,276
2,001| |**Summary of funds - prior year**|||||| |Designated funds
General funds
Restricted funds
**Total funds 2019**|||||| ||||||269,277| Page 21 DocuSign Envelope ID: 3EF09434-7053-4AFF-B615-9D99A26CD812 ## **CROSSWAY STRATFORD** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ## **17. Analysis of net assets between funds** ## **Analysis of net assets between funds - current period** |**Unrestricted**
**funds**
**2020**
**£**
Current assets
337,778
Creditors due within one year
(3,390)
**Total**
334,388
**Analysis of net assets between funds - prior period**
Unrestricted
funds
2019
£
Current assets
291,495
Creditors due within one year
(24,219)
**Total**
267,276|**Restricted**
**funds**
**2020**
**£**
25,140
-
25,140
Restricted
funds
2019
£
2,001
-
2,001|**Total**
**funds**
**2020**
**£**
**362,918**
**(3,390)**| |---|---|---| |||**359,528**| |||Total
funds
2019
£
293,496
(24,219)| |||269,277| ## **18. Pension costs** The charitable company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charitable company in an independently-administered fund. The pension cost charge represents contributions payable by the charitable company to the fund plus amounts recharged by the Great St Helen's Trust in respect of the Reverend Jamie Child and amounted to £24,003 (2019 - £25,197). ## **19. Members' liability** In the event of the charitable company being wound up, the liability in respect of the guarantee is limited to £1 per member. ## **20. Related party transactions** ||**2020**|2019| |---|---|---| ||**£**|£| |Donations made by the trustees and treasurer|**11,342**|9,768| Page 22