2022-03-31-accounts - Love Caerphilly

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REGISTERED CHARITY NUMBER: 1175081

Unaudited Financial Statements
for the Year Ended
31 March 2022

`for`

Love Caerphilly
Charitable Incorporated Organisation
(CIO)

The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP

Love Caerphilly
Charitable Incorporated Organisation
(CIO)

Contents of the Financial Statements

for the Year Ended 31 March 2022

	`Page`
`Reference and Administrative Details`	`1`
`Report of the Trustees`	`2 to 4`
`Independent Examiner's Report`	`5`
`Statement of Financial Activities`	`6`
`Balance Sheet`	`7`
`Notes to the Financial Statements`	`8 to 13`
`Detailed Statement of Financial Activities`	`14`

Love Caerphilly
Charitable Incorporated Organisation
(CIO)

`Reference and Administrative Details`

`for the Year Ended 31 March 2022`

TRUSTEESA S Matheson
Ms L Black
Mrs R Mtetwa
PRINCIPAL ADDRESS102 Bartlett Street
Caerphilly
Mid Glamorgan
CF83 1JU
REGISTERED CHARITY NUMBER 1175081
INDEPENDENT EXAMINERThe Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP

Page 1

Love Caerphilly
Charitable Incorporated Organisation
(CIO)

Report of the Trustees
for the Year Ended 31 March 2022

Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyear ended
31March2022.ThetrusteeshaveadoptedtheprovisionsofAccountingandReportingby Charities:
StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordance with
theFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective 1
January 2019).

Thefinancialstatementshavebeenpreparedinaccordancewiththeaccountingpoliciessetoutin the
notestotheaccountsandcomplywiththecharity’sgoverningdocument,theCharitiesAct2011 and
AccountingandReportingbyCharities:StatementofRecommendedPracticeapplicableto charities
preparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUK and
Republic of Ireland published in October 2019.

`OBJECTIVES AND ACTIVITIES`

`Objectives and aims`

Thecharitywasestablishedunderatrustdeeddated10October2017andwasregisteredasa Charitable
Incorporated Organisation (CIO) on the same date.

TheobjectiveoftheCIOistheadvancementoftheChristianfaith.Inparticularcharitable missionary
workwithinUnitedKingdomandWorldwide,andtorelievepersonswhoareinconditionsofneed or
hardship, or who are aged and sick by use of our own financial and human resources.

`Public benefit`

ThetrusteeshaveconsideredtheCharityCommission'srequirementinrespectofPublicBenefit.In their
view the charity meets, in full, the criteria to satisfy the test.

Page 2

Love Caerphilly
Charitable Incorporated Organisation
(CIO)

`Report of the Trustees`

`for the Year Ended 31 March 2022`

`ACHIEVEMENT AND PERFORMANCE`

`Charitable activities`

The activities carried out to date are commensurate with the objectives and aims of the charity.

ThetrusteeshavedelegateddaytodaymanagementtoandaretakingadvicefromJeremyDaveywho is
supported full time by the charity.

Thecharity'sbankersareBarclaysbankPLC,1-5StDavid'sWay,CardiffCF102DPwhereacommunity bank
account is held.

Thecharity'sinsurancebrokerisThomasCarrol,PendragonHouse,CrescentRoad,CaerphillyCF83 1XX,
whohavesetupthecharity'sliabilityinsurance.Theinsuranceduringthisperiodwasarranged with
Congregational -Integra Insurance Solutions Ltd, Currer House, Bradford, BD1 5BA.

DuetoCOVID-19,wehavecontinuedtomonitorallactivitiestoensurethattheyfallinline with
Governmentguidelinesforsocialdistancing.RiskAssessmentswerecreatedandfollowedforallour public
gatherings,inordertoreducetheriskofspreadingthevirus.Allsocialactioninitiativesthatinvolved any
gathering of people, such as our Baby and Toddler group, also followed Risk Assessments.

Allfundswereraisedbyregulargivingbythechurchmembers,aswellasgiftaidclaimsfromHMRC. To
minimisethehandlingofchequesandcash,mostdonationssinceApril2020havebeenmadevia bank
transfer.Financialandothersupporthasbeenprovidedtothoseinneed;includingindividualsincrisis due
tothepandemic,theCareProject,andsupporttoprojectsasidentifiedbyMinistriesWithoutBorders. We
willcontinuetoadheretoGovernmentguidelines,andweaimtomaintainthereservesatthe current
level while continuing to fulfil the charitable purpose of the Trust.

`FINANCIAL REVIEW`

`Financial position`

Atthebalancesheetdate,thenetassetsofthecharitytotalled£136,589(2021-£122,688).The overall
financialpositionofthecharitywasconsideredrobustas£138,026(2021-£122,524)washeldincash. The
totalincomeresourcesfortheyearwere£95,019(2021-£87,153).Thetotalresourcesexpendedfor the
year were £81,118 (2021 - £63,598) resulting in a net surplus of £13,901 (2021 - £23,555).

`Reserves policy`

Theaimofthetrusteesistomaintaincashsavingstocovermorethansixmonthsrunningcoststo ensure
thelong-termviabilityofthecharity.Allotherunrestrictedfundsareavailabletobeusedforany future
support,projects,purchaseofproperty,orsupportofmorestaff.Totalunrestrictedfundsatthe year-end
are £136,589 (2021 - £122,688).

`FUTURE PLANS`

Thefutureplansaretocontinuefollowingonfromwhathasbeenachievedtodateinthesamevein and
seektoachievegrowthinchurchnumberstofurtherpromoteandachievetheobjectivesandaimsof the
charity.

`STRUCTURE, GOVERNANCE AND MANAGEMENT`

`Governing document`

Thecharityiscontrolledbyitsgoverningdocument,adeedoftrust,andconstitutesa Charitable
Incorporated Organisation.

Page 3

Love Caerphilly
Charitable Incorporated Organisation
(CIO)

for the Year Ended 31 March 2022

`Report of the Trustees`

`STRUCTURE, GOVERNANCE AND MANAGEMENT`

`Recruitment and appointment of new trustees`

Wheretheneedtorecruitandappointnewtrusteesarisesitisintendedthattheyareselectedfrom within
thecommittedmembershipofthechurchwithappropriateandsuitableexperiencetostrengthen the
team.

`Related parties`

ThecharityhasspiritualinputfromKeriJonesofMinistriesWithoutBorders,asanApostlewho has
oversightofanumberofsimilarchurchesthroughouttheUKandabroad.Thechurchmeetswith other
relatedchurchesfromtimetotime.Thechurchhasvisitingministriesfromotherchurches. Church
memberspartakeinChristianbasedseminarsandmeetingstoaidtheirdevelopment.Thewhole church
meetsusuallyannuallywithotherrelatedchurchesforaweekoffellowshipincludingvarious seminars,
worshipandpreaching.Alltheaboverelatedparties'activitiestookplaceeitheronlineorin accordance
with Covid Government Restrictions, during this period.

`Risk management`

Thetrusteeshaveadutytoidentifyandreviewtheriskstowhichthecharityisexposedandto ensure
appropriate controls are in place to provide reasonable assurance against fraud and error.

InordertoachievethisthetrusteeshavesetupanumberofpoliciesincludingaFinancialpolicy, Child
protectionpolicyincludingfullDBSregistration,Vulnerableadultprotectionpolicy,Healthand safety
policyincludingriskassessmentsofactivitiesandDataprotectionpolicyandarrangementsunderthe new
GDPR regulations.

These arrangements will be reviewed and updated when circumstances change and on a regular basis.

Approved by order of the board of trustees on 15 July 2022 and signed on its behalf by:

A S Matheson - Trustee

Page 4

Independent Examiner's Report to the Trustees of
Love Caerphilly
Charitable Incorporated Organisation
(CIO)

`Independent examiner's report to the trustees of Love Caerphilly Charitable Incorporated Organisation (CIO)`

IreporttothecharitytrusteesonmyexaminationoftheaccountsofLoveCaerphilly Charitable
Incorporated Organisation (CIO) (the Trust) for the year ended 31 March 2022.

`Responsibilities and basis of report`

AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsin accordance
with the requirements of the Charities Act 2011 ('the Act').

IreportinrespectofmyexaminationoftheTrust'saccountscarriedoutundersection145oftheAct and
incarryingoutmyexaminationIhavefollowedallapplicableDirectionsgivenbytheCharity Commission
under section 145(5)(b) of the Act.

`Independent examiner's statement`

Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattention in
connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationto which
attentionshouldbedrawninthisreportinordertoenableaproperunderstandingoftheaccountsto be
reached.

Mrs L G Parkes ACA FCCA

ICAEW
The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP

15 July 2022

Page 5

Love Caerphilly
Charitable Incorporated Organisation
(CIO)

`Statement of Financial Activities`

`for the Year Ended 31 March 2022`

`31.3.22` `Unrestricted` `fund` `Notes` `£` `INCOME AND ENDOWMENTS FROM` `Charitable activities` `3` `Tithe income` `81,804` `Offering` `13,203` `Investment income` `2` `12` `Total` `95,019` `EXPENDITURE ON` `Charitable activities` `4` `Tithe income` `66,263` `Offering` `14,855` `Total` `81,118` `NET INCOME` `13,901` `RECONCILIATION OF FUNDS` `Total funds brought forward` `122,688` `TOTAL FUNDS CARRIED FORWARD` `136,589`	`31.3.21` `Total` `funds` `£` `70,730` `16,382` `41`
	`87,153` `54,855` `8,743`
	`63,598`
	`23,555` `99,133`
	`122,688`

The notes form part of these financial statements

Page 6

Love Caerphilly
Charitable Incorporated Organisation
(CIO)

`Balance Sheet`

`31 March 2022`

`31.3.22` `Unrestricted` `fund` `Notes` `£` `CURRENT ASSETS` `Debtors` `10` `4,081` `Cash at bank and in hand` `138,026` `142,107` `CREDITORS` `Amounts falling due within one year` `11` `(5,518)` `NET CURRENT ASSETS` `136,589` `TOTAL ASSETS LESS CURRENT LIABILITIES` `136,589` `NET ASSETS` `136,589` `FUNDS` `12` `Unrestricted funds` `136,589` `TOTAL FUNDS` `136,589`	`31.3.21` `Total` `funds` `£` `4,427` `122,524` `126,951` `(4,263)` `122,688` `122,688` `122,688` `122,688` `122,688`

ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon15July 2022
and were signed on its behalf by:

A S Matheson - Trustee

R Mtetwa - Trustee

L Black - Trustee

The notes form part of these financial statements

Page 7

Love Caerphilly
Charitable Incorporated Organisation
(CIO)

Notes to the Financial Statements
for the Year Ended 31 March 2022

`1. ACCOUNTING POLICIES`

`Basis of preparing the financial statements`

Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingby Charities:
StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsin accordance
withtheFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS 102)
(effective1January2019)',FinancialReportingStandard102'TheFinancialReporting Standard
applicableintheUKandRepublicofIreland'andtheCharitiesAct2011.Thefinancial statements
have been prepared under the historical cost convention.

Thefinancialstatementsarepreparedonagoingconcernbasisunderthehistoricalcost convention,
modifiedtoincludecertainitemsatfairvalue.Thefinancialstatementsarepresentedin sterling
which is the functional currency of the charity and rounded to the nearest £1.

Thefinancialstatementshavebeenpreparedtogivea'trueandfair'viewandhavedeparted from
theCharities(AccountsandReports)Regulation2008onlytotheextenttoprovidea'trueand fair
view'.ThisdeparturehasinvolvedfollowingtheAccountingandReportingbyCharities: Statement
ofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewith the
FinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS102)issued in
October2019ratherthantheAccountingandReportingbyCharities:Statementof Recommended
Practice effective from 1 April 2005, which has since been withdrawn.

Thesignificantaccountingpoliciesappliedinthepreparationofthesefinancialstatementsare set
outbelow.Thesepolicieshavebeenconsistentlyappliedtoallyearspresentedunless otherwise
stated.

`Income`

AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlement to
the funds, it is probable that the income will be received and the amount can be measured reliably.

Income from investments is included in the SOFA in the period in which it is receivable.

`Expenditure`

Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation
committingthecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefits will
berequiredinsettlementandtheamountoftheobligationcanbemeasuredreliably.Expenditure is
accountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregateall cost
relatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadingsthey have
been allocated to activities on a basis consistent with the use of resources.

Expenditureonofficeequipmentandcomputersbelow£1,000arewrittenoffintheStatement of
Financial Activities in the year.

`Taxation`

The charity is exempt from tax on its charitable activities.

`Fund accounting`

Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesatthediscretionof the
trustees.

continued...

Page 8

Love Caerphilly
Charitable Incorporated Organisation
(CIO)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

`1. ACCOUNTING POLICIES - continued`

`Fund accounting`

Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsof the
charity.Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedfor particular
restricted purposes.

Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.

`Debtors and creditors`

Debtorsandcreditorswithnostatedinterestrateandreceivableorpayablewithinoneyear are
recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

`Cash at bank and in hand`

Cash at bank and in hand includes cash in hand and monies on short term deposits at the bank.

`Going concern`

Thefinancialstatementshavebeenpreparedonagoingconcernbasisasthetrusteesbelieve that
nomaterialuncertaintiesexist.Thetrusteeshaveconsideredtheleveloffundsheldand the
expectedlevelofincomeandexpenditurefor12monthsfromauthorisingthese financial
statements.Thebudgetedincomeandexpenditureissufficientwiththelevelofreservesfor the
charity to be able to continue as a going concern.

`2. INVESTMENT INCOME`

`INVESTMENT INCOME`
	`31.3.22`	`31.3.21`
	`£`	`£`
`Deposit Account interest`	`12`	`41`

continued...

Page 9

Love Caerphilly
Charitable Incorporated Organisation
(CIO)

`Notes to the Financial Statements - continued`

`for the Year Ended 31 March 2022`

3.INCOME FROM CHARITABLE ACTIVITIES

			`31.3.22`	`31.3.21`
	`Activity`		`£`	`£`
`Tithe`	`Tithe income`		`71,167`	`59,812`
`Gift Aid`	`Tithe income`		`10,637`	`10,918`
`Offering`	`Offering`		`11,147`	`13,598`
`Gift Aid`	`Offering`		`2,056`	`2,784`
			`95,007`	`87,112`
`CHARITABLE ACTIVITIES COSTS`
		`Direct`	`Support`
		`Costs (see`	`costs (see`
		`note 5)`	`note 6)`	`Totals`
		`£`	`£`	`£`
`Tithe income`		`66,263`	`-`	`66,263`
`Offering`		`13,613`	`1,242`	`14,855`
		`79,876`	`1,242`	`81,118`
`DIRECT COSTS OF CHARITABLE ACTIVITIES`
			`31.3.22`	`31.3.21`
			`£`	`£`
`Ministry`			`42,394`	`38,783`
`Sunday Ministry`			`1,371`	`2,490`
`Administration and compliance`			`2,055`	`3,037`
`Premises expenses`			`2,410`	`-`
`Publicity & evangelism`			`6,422`	`1,425`
`Church family and Bible week`			`1,354`	`591`
`Those in Need`			`7,180`	`2,041`
`Giving`			`16,690`	`14,031`
			`79,876`	`62,398`

`4. CHARITABLE ACTIVITIES COSTS`

`5. DIRECT COSTS OF CHARITABLE ACTIVITIES`

continued...

Page 10

Love Caerphilly
Charitable Incorporated Organisation
(CIO)

`Notes to the Financial Statements - continued`

`for the Year Ended 31 March 2022`

`6. SUPPORT COSTS`

	`Other`
	`£`
`Offering`	`1,242`

`7. TRUSTEES' REMUNERATION AND BENEFITS`

Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2022nor for
the year ended 31 March 2021.

`Trustees' expenses`

Duringtheperiodatrusteewasreimbursedexpensesof£7(2021-£248)forvarious charitable
expenses.

`8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`

	`Unrestricted`
	`fund`
	`£`
`INCOME AND ENDOWMENTS FROM`
`Charitable activities`
`Tithe income`	`70,730`
`Offering`	`16,382`
`Investment income`	`41`
`Total`	`87,153`
`EXPENDITURE ON`
`Charitable activities`
`Tithe income`	`54,855`
`Offering`	`8,743`
`Total`	`63,598`
`NET INCOME`	`23,555`
`RECONCILIATION OF FUNDS`
`Total funds brought forward`	`99,133`
`TOTAL FUNDS CARRIED FORWARD`	`122,688`

continued...

Page 11

Love Caerphilly
Charitable Incorporated Organisation
(CIO)

`Notes to the Financial Statements - continued`

`for the Year Ended 31 March 2022`

`9. INDEPENDENT EXAMINATION FEE`

Theamountpayabletotheindependentexaminerfortheindependentexaminationwas £1,242
(2021 - £1,200) including VAT.

`10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`

`Prepayments and accrued income` `11.` `CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR` `Other creditors` `12.` `MOVEMENT IN FUNDS` `Unrestricted funds` `General fund` `TOTAL FUNDS`	`At 1.4.21` `£` `122,688` `122,688`	`31.3.22` `£` `4,081` `31.3.22` `£` `5,518` `Net` `movement` `in funds` `£` `13,901` `13,901`	`31.3.21` `£` `4,427` `31.3.21` `£` `4,263` `At` `31.3.22` `£` `136,589`
			`136,589`

Net movement in funds, included in the above are as follows:

	`Incoming`	`Resources`	`Movement`
	`resources`	`expended`	`in funds`
	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`95,019`	`(81,118)`	`13,901`
`TOTAL FUNDS`	`95,019`	`(81,118)`	`13,901`

continued...

Page 12

Love Caerphilly
Charitable Incorporated Organisation
(CIO)

`Notes to the Financial Statements - continued for the Year Ended 31 March 2022`

`12. MOVEMENT IN FUNDS - continued`

`Comparatives for movement in funds`

		`Net`
		`movement`	`At`
	`At 1.4.20`	`in funds`	`31.3.21`
	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`99,133`	`23,555`	`122,688`
`TOTAL FUNDS`	`99,133`	`23,555`	`122,688`

Comparative net movement in funds, included in the above are as follows:

	`Incoming`	`Resources`	`Movement`
	`resources`	`expended`	`in funds`
	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`87,153`	`(63,598)`	`23,555`
`TOTAL FUNDS`	`87,153`	`(63,598)`	`23,555`

`13. RELATED PARTY DISCLOSURES`

Thetotalamountofdonationsreceived,withoutconditions,fromTrusteestotalled£12,060(2021 -
£12,078).

Page 13

Love Caerphilly
Charitable Incorporated Organisation
(CIO)

`Detailed Statement of Financial Activities for the Year Ended 31 March 2022`

	`31.3.22`	`31.3.21`
	`£`	`£`
`INCOME AND ENDOWMENTS`
`Investment income`
`Deposit Account interest`	`12`	`41`
`Charitable activities`
`Tithe`	`71,167`	`59,812`
`Offering`	`11,147`	`13,598`
`Gift Aid`	`12,693`	`13,702`
	`95,007`	`87,112`
`Total incoming resources`	`95,019`	`87,153`
`EXPENDITURE`
`Charitable activities`
`Ministry`	`42,394`	`38,783`
`Sunday Ministry`	`1,371`	`2,490`
`Administration and compliance`	`2,055`	`3,037`
`Premises expenses`	`2,410`	`-`
`Publicity & evangelism`	`6,422`	`1,425`
`Church family and Bible week`	`1,354`	`591`
`Those in Need`	`7,180`	`2,041`
`Giving`	`16,690`	`14,031`
	`79,876`	`62,398`
`Support costs`
`Other`
`Independent examination`	`1,242`	`1,200`
`Total resources expended`	`81,118`	`63,598`
`Net income`	`13,901`	`23,555`

This page does not form part of the statutory financial statements

Page 14