REGISTERED CHARITY NUMBER: 1172865
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2021 for King Street Chapel
Kirk Hills Chartered Accountants 5 Barnfield Crescent Exeter Devon EX1 1QT
King Street Chapel
Contents of the Financial Statements for the Year Ended 31 March 2021
| Page | |
|---|---|
| Report of the Trustees | 1 |
| Independent Examiner's Report | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 to 7 |
| Detailed Statement of Financial Activities | 8 to 9 |
King Street Chapel
Report of the Trustees for the Year Ended 31 March 2021
The trustees present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1172865
Principal address
Trustees
K C Churchill P Grant L M Hamidullah R Hughes I E Mobbs A J Webber
Independent examiner
Kirk Hills Chartered Accountants 5 Barnfield Crescent Exeter Devon EX1 1QT
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
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.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
............................................. A J Webber - Trustee
Page 1
Independent Examiner's Report to the Trustees of King Street Chapel
I report on the accounts for the year ended 31 March 2021, which are set out on pages three to seven.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I have examined your charity's accounts as required under section 145 of the Charities Act 2011 ('the 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.
My role is to state whether any material matters have come to my attention giving me cause to believe:
-
that accounting records were not kept as required by section 130 of the Act; or
-
that the accounts do not accord with those records; or
-
that the accounts do not comply with the accounting requirements of the Act; or
-
that there is further information needed for a proper understanding of the accounts.
Independent examiner's statement
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission I have found no matters that require drawing to your attention.
Kirk Hills Chartered Accountants 5 Barnfield Crescent Exeter Devon EX1 1QT
Date: .............................................
Page 2
King Street Chapel
Statement of Financial Activities for the Year Ended 31 March 2021
| Year Unrestricted Restricted fund fund Notes £ £ INCOMING RESOURCES Incoming resources from generated funds Voluntary income 21,599 100 Investment income 2 6,945 - Total incoming resources 28,544 100 RESOURCES EXPENDED Costs of generating funds Costs of generating voluntary income 7,059 100 Fundraising trading: cost of goods sold and other costs 3,915 - Charitable activities Running costs 19,947 - Total resources expended 30,921 100 NET INCOMING/(OUTGOING) RESOURCES (2,377) - RECONCILIATION OF FUNDS Total funds brought forward 30,349 165 TOTAL FUNDS CARRIED FORWARD 27,972 165 |
Ended 31.3.21 Total funds £ 21,699 6,945 28,644 7,159 3,915 19,947 31,021 (2,377) 30,514 28,137 |
Period 1.1.19 to 31.3.20 Total funds £ 29,538 8,421 |
|---|---|---|
| 37,959 6,168 2,825 17,578 |
||
| 26,571 | ||
| 11,388 19,126 |
||
| 30,514 |
The notes form part of these financial statements
Page 3
King Street Chapel
Balance Sheet
At 31 March 2021
| Unrestricted Restricted fund fund Notes £ £ CURRENT ASSETS Cash at bank and in hand 27,972 165 NET CURRENT ASSETS 27,972 165 TOTAL ASSETS LESS CURRENT LIABILITIES 27,972 165 NET ASSETS 27,972 165 FUNDS 5 Unrestricted funds Restricted funds TOTAL FUNDS |
31.3.21 Total funds £ 28,137 28,137 28,137 28,137 27,972 165 28,137 |
31.3.20 Total funds £ 30,514 |
|---|---|---|
| 30,514 | ||
| 30,514 | ||
| 30,514 | ||
| 30,349 165 |
||
| 30,514 |
The financial statements were approved by the Board of Trustees on ............................................. and were signed on its behalf by:
............................................. Trustee
The notes form part of these financial statements
Page 4
King Street Chapel
Notes to the Financial Statements for the Year Ended 31 March 2021
1. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
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.
Taxation
The charity is exempt from 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.
2. INVESTMENT INCOME
| Period | ||
|---|---|---|
| 1.1.19 | ||
| Year Ended | to | |
| 31.3.21 | 31.3.20 | |
| £ | £ | |
| Rents received | 6,898 | 8,250 |
| Use of buildings | 45 | 165 |
| Deposit account interest | 2 | 6 |
| 6,945 | 8,421 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the period ended 31 March 2020 .
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the period ended 31 March 2020 .
Page 5
King Street Chapel
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
4. STAFF COSTS
| Period | ||||
|---|---|---|---|---|
| 1.1.19 | ||||
| Year Ended | to | |||
| 31.3.21 | 31.3.20 | |||
| £ | £ | |||
| Wages and salaries | 3,915 | 2,825 | ||
| The average monthly number of employees during the year was as follows: | ||||
| Period | ||||
| 1.1.19 | ||||
| Year Ended | to | |||
| 31.3.21 | 31.3.20 | |||
| - | - | |||
| No employees received emoluments in excess of £60,000. | ||||
| MOVEMENT IN FUNDS | ||||
| Net | ||||
| movement in | ||||
| At 1.4.20 | funds | At 31.3.21 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 30,349 | (2,377) | 27,972 | |
| Restricted funds | ||||
| Restricted Funds | 165 | - | 165 | |
| TOTAL FUNDS | 30,514 | (2,377) | 28,137 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement in | ||
| resources | expended | funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 28,544 | (30,921) | (2,377) | |
| Restricted funds | ||||
| Restricted Funds | 100 | (100) | - | |
| TOTAL FUNDS | 28,644 | (31,021) | (2,377) |
5. MOVEMENT IN FUNDS
Page 6
King Street Chapel
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
5. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Comparatives for movement in funds | ||||
|---|---|---|---|---|
| Net | ||||
| movement in | ||||
| At 1.1.19 | funds | At 31.3.20 | ||
| £ | £ | £ | ||
| Unrestricted Funds | ||||
| General fund | 19,002 | 11,347 | 30,349 | |
| Restricted Funds | ||||
| Restricted Funds | 124 | 41 | 165 | |
| TOTAL FUNDS | 19,126 | 11,388 | 30,514 | |
| Comparative net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement in | ||
| resources | expended | funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 36,309 | (24,962) | 11,347 | |
| Restricted funds | ||||
| Restricted Funds | 1,650 | (1,609) | 41 | |
| TOTAL FUNDS | 37,959 | (26,571) | 11,388 | |
Page 7
King Street Chapel
Detailed Statement of Financial Activities
for the Year Ended 31 March 2021
| Year INCOMING RESOURCES Voluntary income Gifts Donations Gift aid Investment income Rents received Use of buildings Deposit account interest Total incoming resources RESOURCES EXPENDED Costs of generating voluntary income Missionary and Charitable dons Gifts to speakers CHAT First friends Ladies Meeting Luncheon Club Junior church Fundraising trading: cost of goods sold and other costs Wages Charitable activities Rates and water Insurance Light and heat Telephone Postage and stationery Sundries Computer expenses Cleaning Music Licence Subscriptions Repairs and Renewals 20 King Street Expenses Assets Purchased - Hoover Total resources expended |
Ended 31.3.21 £ 17,655 100 3,944 21,699 6,898 45 2 6,945 28,644 3,400 900 2,639 44 70 106 - 7,159 3,915 522 1,242 2,182 796 412 718 215 336 373 417 9,838 2,766 130 19,947 31,021 |
Period 1.1.19 to 31.3.20 £ 20,736 - 8,802 |
|---|---|---|
| 29,538 8,250 165 6 |
||
| 8,421 | ||
| 37,959 4,387 760 - - - - 1,021 |
||
| 6,168 2,825 502 1,358 1,893 1,301 42 3,547 - 2,781 302 398 2,558 814 2,082 |
||
| 17,578 | ||
| 26,571 |
This page does not form part of the statutory financial statements
Page 8
King Street Chapel
Detailed Statement of Financial Activities for the Year Ended 31 March 2021
| Year Net (expenditure)/income |
Ended 31.3.21 £ (2,377) |
Period 1.1.19 to 31.3.20 £ |
|---|---|---|
| 11,388 |
This page does not form part of the statutory financial statements
Page 9