**TRUSTEES REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021**
**charity number: 1173245**
**company number: 10477544** (not for profit/limited by guarantee)
## ~~contents~~
||**Page No.**|
|---|---|
|Legal & Administrative Information|3|
|Trustees|4|
|Leadership|5|
|Trustees’ Annual Report|6|
|Statement of Trustees’ Responsibilities|16|
|Independent Examiner’s Report|17|
|Statement of Financial Activities|18|
|Balance Sheet|19|
|Notes to the Financial Statements|20|
**2**
## ~~legal & administrative information~~
# **ENGLAND & WALES REGISTERED CHARITY NUMBER**
1173245
## **UK REGISTERED COMPANY NUMBER**
(not for profit/limited by guarantee) 10477544
## **TRUSTEES FOR THE PERIOD**
Lawrie R. Davies (Chair) Naomi H. James Philip R. Davies
## **REGISTERED OFFICE**
_During the year under review From 1st September 2022_ Central Offices 236 Tyntyla Road Top Road The Old Ystrad Labour Club Gelli Industrail Estate Ystrad, Pentre Rhondda Cynon Taf Rhondda Cynon Taf CF41 7UW CF41 7SG
## **ACCOUNTANTS**
Curtis, Bowden & Thomas Limited Chartered Certified Accountants 101 Dunraven Street, Tonypandy Rhondda Cynon Taf, CF40 1AR
## **BANK**
Barclays Bank plc
**3**
## TRustees ~~For the year under review~~
Dream Centre Wales was birthed out of the vision and success of Sporting Marvels, UK reg’d charity 1101562. As the church/charity is still quite young, all of the current leadership have roots in Sporting Marvels. The trustees are hoping to develop less reliance on this vision over the next few years but this process was hindered by the Covid pandemic.
**LAWRIE** is the Managing Director of Sporting Marvels, the largest Christian schools ministry in Wales. He joined the charity in 2007 and is the only person in the organisation’s history to have fulfilled every operational role. In 2016 Lawrie also founded Rhondda Netball, a female sports initiative that quickly became the largest female sports participation initiative in Wales. As a law graduate, and seasoned fundraiser and vision builder when it comes to charities and community initiatives, Lawrie takes a leading role in overseeing and supporting DCW.
**NAOMI** has nearly a decade of experience working in primary and secondary schools in Rhondda, and is one of the best primary school development officers in Rhondda Cynon Taf when it comes to relationship-building and participation in extra-curricular activities. Naomi is heavily involved in all the activities of the church and her experience working with young people has proven to be so important given the average age of church services.
**PHIL** is the founder of Sporting Marvels having formerly worked in off-field professional rugby starting with the Treorchy RFC “Dream” and ending with Tony Brown’s Newport RFC in 2003. Phil passed the day-to-day management of Sporting Marvels over to Lawrie in 2012/13 but is more committed to the cause than ever! He’s been involved in church leadership for the better part of 30 years and his wisdom and experience is greatly valued with the church mainly engaging with under 30’s.
## **AFFILIATIONS**
DCW has also developed great relationships with a number of churches and Senior Pastors throughout South Wales. Many of these provided advice, guidance, friendship and support in the early years establishing the church, and many of them continue to provide wisdom and support as required. These churches all have different expressions of worship, preaching, outreach as well as different ways of leading their respective churches. All have a heart and passion to see the Church take more ground for Jesus, and the wisdom acquired on their journeys is a continuous blessing to us and other churches throughout South Wales.
**4**
## leadership ~~For the year under review~~
Since the spring of 2018, a leadership team of five have been committed to developing and driving the church forward. They did this to the best of their abilities around their existing jobs and commitments. And, with the help of the trustees, they were successful in maintaining what had already been built whilst managing to implement a number of new ideas and strategies. However, despite the success the trustees felt that it was important the church returned to having a near full-time focus. The church was able to action this change for September 2019 when Chelsea Davies willingly stepped down from her leadership role in the church’s partner ministry, Sporting Marvels, to take up a near full-time role with Dream Centre Wales. Early progress was significantly impacted by Covid, but the second half of the year under review saw a renewed sense of expectation when the church signed a 25-year sub-lease at the old Ystrad Labour Club (further information on this throughout the trustees report).
**CHELSEA** worked for Sporting Marvels for 10 years before answering the DCW call when there was an obvious need for day-to-day leadership. She was promoted to Sporting Marvels Team Leader in 2015 to oversee the team and schools’ operation. She was a positive Christian role model for many, and has always had a huge impact in Rhondda, especially with those in the younger generation. Having been a key part of the part-time team overseeing DCW from June 2018 - August 2019, Chelsea’s age and experience made her the stand-out candidate to take a step back in Sporting Marvels and a step forward in DCW. Chelsea’s first 6 months went well with the average attendance at Sunday services being over 60 for the first time in the history of the church. However, Covid meant face-to-face Church services were stopped (March 2020) and Chelsea and the leadership team had to navigate DCW through a very challenging year. The doors closed on the church’s hired venue in Sept 2021 and DCW desperately needed a new solution. After a few months of Chelsea searching for an alternative, a new lease came about in May 2022, and a refurb project commenced to make the venue suitable.
**LAUREN** joined Sporting Marvels in 2014, and since then has been an integral part of the team, so much so she was promoted to Team Leader in the 2019/20 academic year. As well as being a superb relationship-builder, Lauren is a talented communicator with incredible passion, and is one of the regular preaches at DCW’s Sunday services.
**IAN** (Smithy) has been the Team Leader at Sporting Marvels for over 6 years, and his experience in leading and motivating young people has been something that DCW has benefited immensely from. He has a passion to see young people’s lives changed for the better just as his own has been.
**LUCY** has a huge heart for the Gospel and her varied skill set makes her integral to all the activities that take place at church. You won’t often find Lucy at the front, but she’s the ultimate “behind the scenes” person, making sure everything is running smoothly from a audio and visual perspective.
**NAOMI** is one of DCW’s trustees and like Lucy, is heavily involved in all church activities. Her experience working with young people has proven vital not only with the growth at DCW but especially over the Covid period as the church battled to keep making an impact with many more barriers in place.
**5**
the trustees’ Annual Report for ~~yEAR ENDED 31 DECEMBER 2021~~
**The trustees present their report together with the financial statements of the charity for the year ended 31 December 2021. The financial statements have been prepared in accordance with the accounting policies set out on page 16. This report also represents the directors’ report as required by Company Law.**
## **INTRODUCTION**
Dream Centre Wales (DCW) is a contemporary Christian church committed to sharing and living out the message of Jesus. DCW is committed to supporting the needs of those who consider themselves part of the church family but also the needs of the wider community where possible. The mission is to make church and Jesus relevant to today’s generation.
## **STRUCTURE, GOVERNANCE & MANAGEMENT**
Dream Centre Wales (DCW) was incorporated as a not for profit/limited by guarantee company on 14 November 2016 under the name Cornerstone Church Rhondda (CCR). It was granted charitable status on 1 June 2017. The church adopted the name Dream Centre Wales as the ‘working name’ of the charity and company early in 2018 whilst the original name Cornerstone Church Rhondda remained the legal name. The official change of name to Dream Centre Wales was accepted by the Charity Commission and Companies House in July 2019. The charity is overseen by the trustees but empowers a hands-on leadership team to run the day-to-day activities. The year under review, like 2020, proved to be a challenging one for the leadership due to the Covid pandemic and particularly how this affected the hiring of the church’s Sunday service facility. But while this good news did not take place during the year under review, through determination and patience the church secured a 25-year sub-lease of a new facility which will contain a refurbished 125+ capacity church room when completed.
**----- Start of picture text -----**
THE TRUSTEES ARE HOPEFUL THAT 2022/23 WILL SEE DREAM CENTRE WALES CHURCH
RESTORED TO WHERE IT WAS AT THE BEGINNING OF 2020, PRE COVID/LOCKDOWN
**----- End of picture text -----**
**6**
2015 - The beginning
2016/17 - The next step
2018- Launch & great opportunity to hire new facility
2019- full church for "Africa Special"
2020 - riding high pre-Covid!
2020/21 - denied access to our (hired) public sector building
2022- our own building secured!!
**7**
## **OBJECTIVES AND ACTIVITIES**
Since 1 June 2017 Dream Centre Wales has made steady progress with its objective to advance Christianity in the Rhondda, albeit with Covid having a hugely negative affect on momentum during 2020 & 2021. In the 2001 National Census the Rhondda was recorded as having less than 0.9% of its approx. 80,000 population regularly attending church. This was over 15 times less than the UK average at the time, and the trustees know that although more recent censuses don’t record the same data, these statistics have not improved in the years since. As such, the work of the local church is very much needed in the region. Rhondda’s heritage and history are steeped in Christianity, evidenced through the many churches that have existed in the region, and those that currently continue to serve their local community. Rhondda actually has one of the highest densities of church “buildings” per square mile - most of which are now empty or converted - in the whole of Europe. DCW’s Mission statement is “Taking Jesus to Today’s Generation”. While the church aims to be welcoming to all, it specifically aims to change the way millennials see church in the belief that change has to start with the younger generation before negative attitudes become entrenched, and before they make mistakes that could negatively affect the rest of their lives. DCW aims to show the benefits of a positive Christian lifestyle and to create a social community around church with people supporting and encouraging one another. From Sunday 21st January 2018 - Sunday 15th March 2020, DCW’s Sunday services were based in Coleg y Cymoedd in Llwynypia, Tonypandy whilst retaining a small daily office and meeting space in Gelli for activities throughout the week. However, in September 2021 after it appeared the worst of Covid was over, the leadership approached the college about restarting (for the 2nd time during the pandemic!!) but it was clear they wouldn’t facilitate the return of DCW in the short term, and actually, the Omicron concerns only strengthened their stance. Then, in February/March 2022 after the Omicron scare had come and gone, the leadership approached the college for a 3rd time, but they stated that they would not be hiring out the venue in the immediate future. Covid was the initial reason, but they also said they had a “long-term refurb” planned with “new learning arrangements” in place. And, having already explored a number of other potential venues/dead-ends since September, it was uncertain where to go next for a solution. As such, they did the only thing they could do when you’ve run out of ideas... pray! And, Lucy also felt strongly about fasting too, so they did. The efforts and prayers weren’t in vain, and to cut a long story short, DCW is now the holder of a 25-year sub-lease (as of May 2022) on a “nearly-centre-of-Rhondda-venue” that has an indoor capacity for up to 125+ people! Despite the lack of venue to meet weekly during the year under review, DCW continued to make monthly donations to the Rhondda Foodbank run by Acts Community Church in Tylorstown, the mission work in East Africa, church planting efforts across the UK, and it also served the community through Mothers Day & Easter Giveaways (see page 11).
**----- Start of picture text -----**
THE TEAM ASSEMBLED BY THE DCW BOYS
CELEBRATE WINNING THE CHURCH-ONLY
COMPETITION, JULY 2021
**----- End of picture text -----**
**8**
## **PARTNERSHIPS**
As the church was founded out of the work of **Sporting Marvels** , _above_ , a Christian outreach ministry in Rhondda that works with schools and young people, the church has a strong relationship with this charity. Sporting Marvels sees Dream Centre Wales as the home church of the ministry and its personnel make a great effort to support DCW church activities.
**Thirtyone:eight** (formerly Churches Child Protection Advisory Service) provides the church with advice and information regarding best practice in relation to safeguarding, and with an enhanced DBS service when required.
During the year under review, DCW also made a monthly donation to **New Thing/Ivy Church Manchester** who, through leader Anthony Delaney, played a key financial part in the year DCW was launched officially, 2018.
As a church with a big heart for people and those most in need, DCW also does its best to support the work of **Heart for Africa** , _right_ , which exists to make a difference to lives in Tanzania, one of the world’s poorest countries. The charity has a special place in DCW’s heart and it mainly supports orphanages, schools and deprived communities in the Arusha region of Tanzania.
**Compassion** is a leading Christian children’s charity. Their aim is to fight poverty, giving children the opportunity to escape the suffering and fear poverty brings through a one-to-one child sponsorship model. DCW starting sponsoring Manno through Compassion in 2018 and this continued throughout the year under review.
**9**
## **KEY LEADERS AND VOLUNTEERS**
The changes involving Chelsea Davies in the Summer of 2019 remained and she continued to lead Dream Centre Wales and a small number of key volunteers (see page 5) who dedicated their time and focus to maintaining church activity throughout the year under review. However, due to the impact Covid was still having on the UK during 2021, this was not conventional, with Sunday services severely impacted and the leadership having to be creative throughout the year.
The trustees were pleased with the leadership and volunteer effort in place during the year under review, as this resulted in greater focus, energy, and clarity prior to the Covid pandemic. But the trustees recognise that providing vision and passion during such a challenging year on the Covid/facilities front, was extremely difficult.
The church’s big team of volunteers collectively bring a wide variety of skills and strengths to support the various activities undertaken by the church, but there were much more limited opportunities during the year under review. Their contribution plays a major role in furthering and enriching DCW’s work and they see their role to serve not only on Sundays but for anything and everything that the church focuses on. Though this hasn’t fallen during the year under review, the trustees have seen this in abundance since the refurb project started at the church’s the new premises (please see pages 12-14).
For a church with such a young average age, the heart and willingness to serve and go the extra mile for people and the DCW cause, is remarkable. DCW values this and wants to grow this attitude within the church. It’s important to note though that DCW hasn’t had a ‘normal’ year since 2019, but Chelsea and the team believe the best years are ahead and that they will create a new “home” for many young people in the Rhondda, helping to make Jesus and His church more relevant to today’s generation.
**10**
## **ACHIEVEMENTS AND PERFORMANCE**
Due to Covid restrictions running into the year under review, the original plans, from Sunday services to Dream Girls Conference, Baptisms, Africa Morning etc, were all cancelled, mainly as a result of the church not being permitted to return to Rhondda College. Adjustments had to be made to ensure the Dream Centre Wales Family remained connected.
Even though face-to-face church was unable to take place during the year under review, the DCW team still wanted to continue to help combat the difficulties the church and community members were going through.
The first community project of the year was ‘Mothers Day’ and with Chelsea having recently have become a first time mum herself (during the first National Lockdown), she was passionate about supporting new mothers, particularly those who were single parents. Being a first-time mum enabled Chelsea to relate to so many mothers through social media, and she spoke to lots of women about the highs and lows of motherhood and the disappointments some of them had experienced having babies in lockdown. One of the hardest things for these ladies was the lack of support, smaller sense of community and the absence of belonging. It’s not that people didn’t care either, it’s that lockdowns had created a dynamic whereby people care, but couldn’t do enough to show this. Mothers were left navigating through the ‘firsts’ alone. So, on Mothers Day, Chelsea and the team took the opportunity to show God’s love to mothers across Rhondda.
At Easter, DCW’s key volunteers took to the road, delivering an Easter egg, _right_ , to each person who had visited DCW in the 18 months prior to the first National Lockdown. With 100+ eggs loaded up and the sun shinning, it was a great opportunity to visit the individuals who make up the DCW Family, to check in with them and to see how they were doing as restrictions were slowly easing, and secondly, to give them a gift to remind them of the significance of Easter Sunday.
Even though summer 2021 still saw plenty of challenge related to the church being able to hire Rhondda College, with more restrictions still in place in the public sector, the loosening of Covid restrictions during summer 2021 was a big boost for the DCW boys. 29 teenagers and young men (aged between 15-30) attended the Ambassadors’ annual National Christian Football Festival in Shropshire (see page 8). Ambassadors are a Christian charity that uses football as an outreach tool and DCW has attended the annual National Christian Football Festival for a number of years. DCW’s key male leaders and volunteers had the opportunity to build stronger relationships with each other and with the other males participating, and Ambassadors did a fantastic job sharing the transformational Gospel message of Jesus through a number of powerful testimonies. DCW won the competition played between church-only teams.
**11**
## **FUTURE PLANS**
**SHORT TERM...** Dream Centre Wales was unable to hold Sunday services during the year under review due to the weekly venue DCW uses - Rhondda College (part of Coleg y Cymoedd) - taking a strict position on Covid restrictions and choosing not to hire out their facilities to the general public. In February/March 2022, after the Omicron had come and gone, Chelsea, DCW’s Senior Leader, got in contact with Coleg y Cymoedd about a return for the third time during the pandemic, and it was here that it became clear that DCW would need to find a new home. Caution surrounding Covid was still the main reason, but they also said they had a “long-term refurb” planned with new learning arrangements in now in place. Having already explored a number of other potential venues/dead-ends since September 2021, the trustees and leadership weren’t really sure what to do next. But following a period of prayer and fasting, God opened a door! Recognising the need for DCW to find a new home, our partner ministry Sporting Marvels signed a 25-year
lease on an old Labour club with a 125+ person capacity main hall. The lease started on 3rd May 2022, and DCW quickly signed a 25-year sub-lease. The new arrangement has the effect of saving DCW a large chunk of money on a monthly basis, but as Sporting Marvels was not looking to move offices, the church will need to invest significant funds in refurbing some of the key areas of the premises throughout 2022 & 2023. However, the trustees feel any capital investments will very much be worth it as without said investment to secure a suitable new home, the future of the church would be in jeopardy. The church will invest more in its small group “Crews” with the aim of restructuring things around the possibility of using social areas in the new premises once complete. From a humanitarian and outreach point of view, the church will continue supporting Heart for Africa and being active in the local and wider community.
**MEDIUM TERM...** The newly secured premises, _right_ , and main hall that can hold 125+ people needs to be prepared for the Sunday services. New flooring, upholstery, toilets and seating are all on the priority list amongst many other things. The plan then is to advertise and spread the news that DCW is open again on Sunday mornings from December 2022. With no knowing who will return after such a long time without Sunday services, the leadership are prepared for a rebuild.
**12**
_**WHAT A BREAKTHROUGH!! THE CHURCH IS BELIEVING IN FAITH FOR GOD TO PROVIDE THE RESOURCES DURING 2022 & 2023 TO TRANSFORM SEVERAL ROOMS FOR CHURCH AND YOUTH-FOCUSED COMMUNITY WORK, AND SOME OF THE CHURCH HAVE ALREADY BEEN HARD AT WORK, BELOW.**_
**13**
At DCW, as well as the leadership and key volunteers speaking at Sunday services, the church has previously had a number of guest speakers. All guest speakers were chosen for specific reasons and they made a great impact on the church congregation. Once Sunday services are re-established the leadership will look to book guest speakers that will help.
**LONG TERM…** After completing the minimum requirements refurb with the resources available in order to restart Sunday services, the church will need to explore capital funding opportunities in partnership with Sporting Marvels. The main hall is large and there are several aspects that need work, whilst the rest of the premises has multiple rooms, potential offices, toilets, and a reception area and 3-space carpark that need investment in order to maximise the benefit for the church and the community. These are not all DCW’s responsibility, but with a 25year sub-lease, the renovation of these areas will significantly benefit the work of the church and the and the wider community.
The main target after the minimum requirements have been completed, will be the second smaller lounge area which the church hopes to transform into a Youth & Children area - which can hold Kids church and other events like youth groups and clubs in the future.
Aside from the building projects, the church will be focusing on the return of baptisms and Dream Girls Conference in particular. Both of these events have birthed significant moments in the history of DCW. Christians know that being baptised is an important moment in the life of a Christian, and the church wants to be able to offer this opportunity to anyone who might feel ready to be baptised. In our previous baptisms, many family, friends and guests came, and the leadership hopes the same will happen again to draw people to the DCW Church to experience the heart and family feel that is right at the core of the church.
Dream Girls Conference is focused on reaching girls and women, with particular emphasis on young girls. This event has impacted many females at DCW over the years, and the aim is to bring the girls together to build, encourage and love on them so that they know they haven’t got to go through the highs and lows of life alone.
**14**
## **FINANCIAL REVIEW**
The financial position of the charity at 31 December 2021 was considered satisfactory based on the known costs of the church, with another surplus recorded despite a slight drop in income compared with 2020.
Income across 2021, despite the Covid pandemic having a significant impact on church activities and church vision, was pleasing. The main drop from 2020 was as a result of the charity receiving less grant income which was expected. The trustees were delighted that income surpassed the level of 2019, which was the last “normal” year for the charity, and this was mainly as a result of increased income from tithes & offerings.
While the church spent less on the hire of premises during the year under review as a result of Rhondda College being unavailable for hire, the church was still committed to maintaining its office headquarters in Gelli. The trustees would have preferred to have saved more money on this front given the lesser amount of use the offices had through 2021, but they recognised the scope of the church’s agreement at the Gelli headquarters - through Sporting Marvels - could not be terminated as a result of Covid. This type of situation was quite common for many small charities and businesses during the pandemic as leaders attempted to save money with remote working arrangements whilst still being tied to some previously agreed contracts.
The trustees were pleased to see the church make further savings on administration and finance costs. They were also happy to see the resources spent on fundraising activities dropped once more, but recognise the impact Covid had on generating income through the year under review.
The challenge for the charity throughout 2022 will be to maintain momentum as the country grapples with the the cost of living crisis, and the global inflation/economic uncertainty, including the Ukraine War. The trustees will continue to pray for the generous church members and donors who play such a key role in the activities of the church, that their own incomes will be unaffected by national and global challenges or a recession. This will be especially important as the trustees will need to commit a large proportion of the 2020 & 2021 surpluses to the minimum requirements refurbishment at the new premises. If the church doesn’t do this, then the church itself could cease to operate, and the trustees will be considering all options in terms of attracting external support to help develop the new premises.
## **RELATED PARTIES**
No remuneration was paid to any of the trustees in their capacity as trustees during the year under review.
Chelsea Davies is the wife of trustee, Lawrie Davies. During the year under review, Chelsea received payments in respect of her pastoral role within the church. This remuneration would normally have been higher, but due to the circumstances surrounding Covid lockdowns/ restrictions and the church’s college facility not being available for Sunday services, during the year under review it fell into the £0 - £2,999 bracket.
**15**
## ~~statement of trustees’ responsibilities~~
The trustees (who are also the directors for the purpose of company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations. Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees must prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue to operate.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. The trustees confirm that so far as they are aware, there is no relevant audit information (as defined by section 418(3) of the Companies Act 2006) of which the charitable company’s auditors are unaware. They have taken all the steps that they ought to have taken as trustees in order to make themselves aware of any relevant audit information and to establish that the charitable company’s auditors are aware of that information.
This report was approved by the Trustees on the 24 October 2022 and signed on their behalf by:
L R Davies - Chair of Trustees & Director
**16**
## independent examiner’s Report ~~to the trustees~~
I report on the accounts of the company for the year ended 31 December 2021, which are set out on pages three to eight.
## **Responsibilities and basis of report**
As the charity's trustees (and also the 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.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independant examination, 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:
1. that accounting records were not kept as required by section 386 of the Companies Act 2006; or
2. that the accounts do not accord with those records; or
3. that the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the 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; or
4. 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.
Stephen J Smith FCCA Curtis Bowden & Thomas Limited Chartered Certified Accountants 101 Dunraven Street Tonypandy CF40 1AR
17 October 2022
**17**
## statement of financial activities ~~for yEAR ENDED 31 DECEMBER 2021~~
|31.12.21
31.12.20
Unrestricted
funds
Total funds
£
£
1,500
8,750
8,425
8,710
28,916
26,549
4,806
7,492
43,647
51,501
3,285
4,190
17,502
17,181
1,982
2,603
4510
6282
Notes
**Income & endowments**
**Voluntary income:**
Grants
Donations
2
**Incoming resources from charitable activities**
Tithes & offerings
Gift Aid
**Total incoming resources**
**Resources expended**
**Expenditure**
Fund raising costs
**Charitable activities**
Christian ministry
Admin & finance costs
Grants & donations|31.12.21
31.12.20
Unrestricted
funds
Total funds
£
£
1,500
8,750
8,425
8,710
28,916
26,549
4,806
7,492
43,647
51,501
3,285
4,190
17,502
17,181
1,982
2,603
4510
6282
Notes
**Income & endowments**
**Voluntary income:**
Grants
Donations
2
**Incoming resources from charitable activities**
Tithes & offerings
Gift Aid
**Total incoming resources**
**Resources expended**
**Expenditure**
Fund raising costs
**Charitable activities**
Christian ministry
Admin & finance costs
Grants & donations|31.12.21
31.12.20
Unrestricted
funds
Total funds
£
£
1,500
8,750
8,425
8,710
28,916
26,549
4,806
7,492
43,647
51,501
3,285
4,190
17,502
17,181
1,982
2,603
4510
6282
Notes
**Income & endowments**
**Voluntary income:**
Grants
Donations
2
**Incoming resources from charitable activities**
Tithes & offerings
Gift Aid
**Total incoming resources**
**Resources expended**
**Expenditure**
Fund raising costs
**Charitable activities**
Christian ministry
Admin & finance costs
Grants & donations|
|---|---|---|
|
Hire of premises
Africa mission work
**Governance costs**
**Total resources expended**
**Net incoming resources**
**Reconciliation of funds**
**Total funds brought forward**
**Total funds carried forward**|,
8,400
1,800
959
38,438
5,209
8,451
13,660|,
10,800
1,950
925
43,931
7,570
881
8,451|
## **Continuing operations**
All incoming resources and resources expended arise from continuing activities.
**18**
## ~~balance sheet~~
|31.12.21
31.12.20
Unrestricted
funds
Total funds
Notes
£
£
**Fixed assets**
Tangible assets
6
1,307
1,538
**Current assets**
Cash at bank
13,318
7,838
**Creditors**
Amounts falling due within one year
7
(965)
(925)
**Net current assets**
12,353
6,913
**Total assets less current liabilities**
13,660
8,451
**Net assets**
13,660
8,451
|31.12.21
31.12.20
Unrestricted
funds
Total funds
Notes
£
£
**Fixed assets**
Tangible assets
6
1,307
1,538
**Current assets**
Cash at bank
13,318
7,838
**Creditors**
Amounts falling due within one year
7
(965)
(925)
**Net current assets**
12,353
6,913
**Total assets less current liabilities**
13,660
8,451
**Net assets**
13,660
8,451
|31.12.21
31.12.20
Unrestricted
funds
Total funds
Notes
£
£
**Fixed assets**
Tangible assets
6
1,307
1,538
**Current assets**
Cash at bank
13,318
7,838
**Creditors**
Amounts falling due within one year
7
(965)
(925)
**Net current assets**
12,353
6,913
**Total assets less current liabilities**
13,660
8,451
**Net assets**
13,660
8,451
|
|---|---|---|
|**Funds**
8
Unrestricted funds
**Total funds**|13,660
13,660|8,451
8,451|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 on 24 October 2022 and were signed on its behalf by:
L R Davies - Chair of Trustees & Director
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19
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## notes to the financial statements ~~for yEAR ENDED 31 DECEMBER 2021~~
## **1. Accounting policies**
## **Accounting convention**
The financial statements have been prepared under the historical cost convention, the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
## **Financial reporting standard number 1**
Exemption has been taken from preparing a cash flow statement on the grounds that the charitable company qualifies as a small charitable company.
## **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.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
## **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.
## **Hire purchase and leasing commitments**
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
## **2. Donations**
||31.12.21|31.12.20|
|---|---|---|
||£|£|
|Name Withheld|7,850|6,710|
|Name Withheld|-|2,000|
|Name Withheld|575|-|
||8,425|8,710|
**20**
notes to the financial statements for y/E 31 DECEMBER 2021 (CONT)
## **3. Net incoming/(outgoing) resources**
Net resources are stated after charging/(crediting):
||31.12.21|31.12.20|
|---|---|---|
||£|£|
|Depreciation - owned assets|231|272|
|Hire of plant and machinery|8,400|10,800|
## **4. Trustees' remuneration and benefits**
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
## **5. Staff costs**
|**Staff costs**|||
|---|---|---|
||31.12.21|31.12.20|
||£|£|
|Wages and salaries|6,970|9,019|
|The average monthly number of employees during the year was as follows:|||
||31.12.21|31.12.20|
||-|-|
|No employees received emoluments in excess of £60,000.|||
|**Tangible fixed assets**|||
|||Fixtures and|
|||fittings|
|||£|
|**Cost**|||
|At 1 January 2021 and 31 December 2021||2,435|
|**Depreciation**|||
|At 1 January 2021||897|
|Charge for year||231|
|At 31 December 2021||1,128|
|**Net book value**|||
|At 31 December 2021||1,307|
|At 31 December 2020||1,538|
## **6. Tangible fixed assets**
**21**
notes to the financial statements for y/E 31 DECEMBER 2021 (CONT)
## **7. Creditors: amounts falling due within one year**
|**Creditors: amounts falling due within one year**|||
|---|---|---|
||31.12.21|31.12.20|
||£|£|
|Accrued expenses|965|925|
## **8. Movement in funds**
|**Movement in funds**||||
|---|---|---|---|
|||Net movement||
||At 1.1.21|in funds|At 31.12.21|
||£|£|£|
|**Unrestricted funds**||||
|General fund|8,451|5,209|13,660|
|**TOTAL FUNDS**|8,451|5,209|13,660|
Net movement in funds, included in the above are as follows:
|Net movement in funds, included in the above are as follows:|Net movement in funds, included in the above are as follows:|Net movement in funds, included in the above are as follows:|
|---|---|---|
|Incoming
Resources
Movement in
|||
|re
**Unrestricted funds**
General fund
**TOTAL FUNDS**|sources
expended
£
£
43,647
(38,438)
43,647
(38,438)|funds
£
5,209
5,209|
## **Comparatives for movement in funds**
|||Net movement||
|---|---|---|---|
|At 1.1.20||in funds|At 31.12.20|
||£|£|£|
|**Unrestricted Funds**||||
|General fund|881|7,570|8,451|
|**TOTAL FUNDS**|881|7,570|8,451|
|Comparative net movement in funds, included in the above are as follows:||||
|Incoming||Resources|Movement in|
|resources||expended|funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|51,501|(43,931)|7,570|
|**TOTAL FUNDS**|51,501|(43,931)|7,570|
**22**
notes to the financial statements for y/E 31 DECEMBER 2021 (CONT)
## **8. Movement in funds - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|||Net movement||
|---|---|---|---|
||At 1.1.20|in funds|At 31.12.21|
||£|£|£|
|**Unrestricted funds**||||
|General fund|881|12,779|13,660|
|**TOTAL FUNDS**|881|12,779|13,660|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|
as follows:|
as follows:|
as follows:|
as follows:|
|---|---|---|---|
|Incoming
resources
Resources
expended
Movement in
funds
£
£
£
**Unrestricted funds**
General fund
95,148
(82,369)
12,779
||||
|||||
|**TOTAL FUNDS**|95,148|(82,369)|12,779|
**23**
ocu
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