2023-03-31-accounts - Love Caerphilly

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REGISTERED CHARITY NUMBER: 1175081

Unaudited Financial Statements
for the Year Ended
31 March 2023

`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 2023

	`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 to 8`
`Notes to the Financial Statements`	`9 to 15`
`Detailed Statement of Financial Activities`	`16`

Love Caerphilly
Charitable Incorporated Organisation
(CIO)

Reference and Administrative Details
for the Year Ended 31 March 2023

`TRUSTEES`	`A S Matheson`
	`L Black`
	`R Mtetwa`
	`C R Watson (appointed 1.3.23)`
`PRINCIPAL ADDRESS`	`102 Bartlett Street`
	`Caerphilly`
	`Mid Glamorgan`
	`CF83 1JU`
`REGISTERED CHARITY NUMBER`	`1175081`
`INDEPENDENT EXAMINER`	`The 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 2023

Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyear ended
31March2023.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
workwithintheUnitedKingdomandWorldwide,andtorelievepersonswhoareinconditionsofneed or
hardship, or who are aged and sick by use of our own financial and human resources.

`Public benefit`

ThetrusteeshaveconsideredtheCharityCommission'srequirementsinrespectofpublicbenefit.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 2023

`ACHIEVEMENT AND PERFORMANCE`

`Charitable activities`

The activities carried out to date are commensurate with the objectives and aims of the charity.
ThetrusteeshavedelegateddaytodaymanagementtoandaretakingadvicefromJeremyDavey and
Robert Sherwin who are the elders of the Church. Jeremy Davey is supported full time by the charity.

Thecharity'sbankersareBarclaysbankPLC,1-5StDavid'sWay,Cardiff,CF102DP,wherea community
bank account is held.

Thecharity'sinsurancebrokerisThomasCarrol,PendragonHouse,CrescentRoad,Caerphilly,CF83 1XX,
whohavesetupthecharity'sliabilityinsurance.Theinsuranceduringthisperiodwasarranged with
Congregational-Integra Insurance Solutions Ltd, Currer House, Bradford, BD1 5BA.

Allfundswereraisedbyregulargivingbythechurchmembers,aswellasgiftaidclaimsfromHMRC. In
ordertominimisethehandlingofchequesandcash,mostdonationssinceApril2020havebeenmade via
bank transfer.

Allsocialactioninitiativesthatinvolvedanygatheringofpeople,suchasourBabyandToddler group,
followed Risk Assessments.

Financialandothersupporthasbeenprovidedtothoseinneed;includingindividualsincrisisdueto the
riseoflivingcosts,supporttotheCareProject,andprojectsasidentifiedbyMinistriesWithout Borders.
Weaimtomaintainthereservesatthecurrentlevelwhilecontinuingtofulfilthecharitablepurpose of
the Trust.

InMarch2023,weemployedAnneSherwinintheroleofChurchAdministrator,duetotheincreased and
ongoing work of the CIO.

`FINANCIAL REVIEW`

`Financial position`

Atthebalancesheetdate,thenetassetsofthecharitytotalled£159,656(2022-£136,589).The overall
financialpositionofthecharitywasconsideredrobustas£161,972(2022-£138,026)washeldincash. The
totalincomeresourcesfortheyearwere£110,680(2022-£95,019)Thetotalresourcesexpendedfor the
year were £85,286 (2022 - £81,118) resulting in a net surplus of £25,394 (2022 - £13,901).

`Reserves policy`

Theaimofthetrusteesistomaintaincashsavingstocovermorethansixmonthsrunningcostsinorder to
ensurethelong-termviabilityofthecharity.Allotherunrestrictedfundsareavailabletobeusedfor any
futuresupport,projects,purchaseofproperty,orsupportofmorestaff.Totalunrestrictedfundsat the
year- end are £161,983 (2022 - £136,589).

`FUTURE PLANS`

Thefutureplansaretocontinuefollowingonfromwhathasbeenachievedtodateinthesamevein, and
seektoachievegrowthinchurchnumberstofurtherpromoteandachievetheobjectivesandaimsof the
charity.

Page 3

Love Caerphilly
Charitable Incorporated Organisation
(CIO)

`Report of the Trustees`

for the Year Ended 31 March 2023

`STRUCTURE, GOVERNANCE AND MANAGEMENT`

`Governing document`

Thecharityiscontrolledbyitsgoverningdocument,adeedoftrust,andconstitutesa Charitable
Incorporated Organisation.

`Recruitment and appointment of new trustees`

In March 2023, Cerian Watson was appointed as new trustee for the CIO.

Wheretheneedtorecruitandappointnewtrusteesarisesitisintendedthattheyareselectedfrom within
thecommittedmembershipofthechurchwithappropriateandsuitableexperiencetostrengthen the
team.

`Related parties`

ThecharityhasspiritualinputfromKeriJonesofMinistriesWithoutBorders,asanApostlewho has
oversightofanumberofsimilarchurchesthroughouttheUKandabroad.Thechurchmeetswith other
relatedchurchesfromtimetotime.Thechurchhasvisitingministriesfromotherchurches. Church
memberspartakeinChristianbasedseminarsandmeetingstoaidtheirdevelopment.Thewhole church
meetsusuallyannuallywithotherrelatedchurchesforaweekoffellowshipincludingvarious seminars,
worship and preaching.

`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 21 July 2023 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 2023.

`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 FCA FCCA

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

25 July 2023

Page 5

`Love Caerphilly Charitable Incorporated Organisation (CIO)`

`Statement of Financial Activities for the Year Ended 31 March 2023`

`2023` `Unrestricted` `fund` `Notes` `£` `INCOME AND ENDOWMENTS FROM` `Charitable activities` `3` `Tithe income` `95,746` `Offering` `14,620` `Investment income` `2` `314` `Total` `110,680` `EXPENDITURE ON` `Charitable activities` `4` `Tithe income` `64,652` `Offering` `20,634` `Total` `85,286` `NET INCOME` `25,394` `RECONCILIATION OF FUNDS` `Total funds brought forward` `136,589` `TOTAL FUNDS CARRIED FORWARD` `161,983`	`2022` `Total` `funds` `£` `81,804` `13,203` `12`
	`95,019`
	`66,263` `14,855`
	`81,118`
	`13,901` `122,688`
	`136,589`

The notes form part of these financial statements

Page 6

`Love Caerphilly Charitable Incorporated Organisation (CIO)`

`Balance Sheet`

`31 March 2023`

`2023` `Unrestricted` `fund` `Notes` `£` `FIXED ASSETS` `Tangible assets` `10` `2,327` `CURRENT ASSETS` `Debtors` `11` `4,862` `Cash at bank and in hand` `161,972` `166,834` `CREDITORS` `Amounts falling due within one year` `12` `(7,178)` `NET CURRENT ASSETS` `159,656` `TOTAL ASSETS LESS CURRENT LIABILITIES` `161,983` `NET ASSETS` `161,983`	`2022` `Total` `funds` `£` `-` `4,081` `138,026` `142,107` `(5,518)` `136,589` `136,589` `136,589`

The notes form part of these financial statements

continued...

Page 7

Love Caerphilly
Charitable Incorporated Organisation
(CIO)

`Balance Sheet - continued`

`31 March 2023`

`FUNDS` `13` `Unrestricted funds` `TOTAL FUNDS`	`161,983` `161,983`	`136,589`
		`136,589`

ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon21July 2023
and were signed on its behalf by:

A S Matheson - Trustee

C R Watson - Trustee

L Black - Trustee

R Mtetwa - Trustee

The notes form part of these financial statements

Page 8

Love Caerphilly
Charitable Incorporated Organisation
(CIO)

Notes to the Financial Statements
for the Year Ended 31 March 2023

`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.

Thefinancialstatementsarepreparedonagoingconcernbasisunderthehistorical cost
convention,modifiedtoincludecertainitemsatfairvalue.Thefinancialstatementsare presented
in 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.

`Tangible fixed assets`

Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetover its
estimated useful life.

Computer equipment- 25% on cost

continued...

Page 9

Love Caerphilly
Charitable Incorporated Organisation
(CIO)

`Notes to the Financial Statements - continued for the Year Ended 31 March 2023`

`1. ACCOUNTING POLICIES - continued`

`Taxation`

The charity is exempt from tax on its charitable activities.

`Fund accounting`

Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesatthediscretionof the
trustees.

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`
	`2023`	`2022`
	`£`	`£`
`Deposit Account interest`	`314`	`12`

continued...

Page 10

Love Caerphilly
Charitable Incorporated Organisation
(CIO)

`Notes to the Financial Statements - continued for the Year Ended 31 March 2023`

`3.` `INCOME FROM CHARITABLE ACTIVITIES` `Activity` `Tithe` `Tithe income` `Gift Aid` `Tithe income` `Offering` `Offering` `Gift Aid` `Offering` `4.` `CHARITABLE ACTIVITIES COSTS` `Direct` `Costs (see` `note 5)` `£` `Tithe income` `64,652` `Offering` `19,272` `83,924` `5.` `DIRECT COSTS OF CHARITABLE ACTIVITIES` `Ministry` `Sunday Ministry` `Administration and compliance` `Premises expenses` `Publicity & evangelism` `Church family and Bible week` `Those in Need` `Giving` `Computer equipment depn`	`2023` `£` `82,578` `13,168` `12,462` `2,158` `110,366` `Support` `costs (see` `note 6)` `£` `-` `1,362` `1,362` `2023` `£` `41,517` `4,188` `2,535` `3,525` `5,613` `3,804` `8,490` `13,981` `271` `83,924`		`2022` `£` `71,167` `10,637` `11,147` `2,056`
			`95,007`
			`Totals` `£` `64,652` `20,634`
			`85,286`
			`2022` `£` `42,394` `1,371` `2,055` `2,410` `6,422` `1,354` `7,180` `16,690` `-`
			`79,876`

continued...

Page 11

Love Caerphilly
Charitable Incorporated Organisation
(CIO)

`Notes to the Financial Statements - continued for the Year Ended 31 March 2023`

`6. SUPPORT COSTS`

	`Other`
	`£`
`Offering`	`1,362`

`7. TRUSTEES' REMUNERATION AND BENEFITS`

Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2023nor for
the year ended 31 March 2022.

`Trustees' expenses`

DuringtheyearnoTrusteeswerereimbursedexpenses.Lastyearatrusteewas reimbursed
expenses of £7 for various charitable expenses.

`8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`

	`Unrestricted`
	`fund`
	`£`
`INCOME AND ENDOWMENTS FROM`
`Charitable activities`
`Tithe income`	`81,804`
`Offering`	`13,203`
`Investment income`	`12`
`Total`	`95,019`
`EXPENDITURE ON`
`Charitable activities`
`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`

continued...

Page 12

Love Caerphilly
Charitable Incorporated Organisation
(CIO)

`Notes to the Financial Statements - continued for the Year Ended 31 March 2023`

`9. INDEPENDENT EXAMINATION FEE`

Theamountpayabletotheindependentexaminerfortheindependentexaminationwas £1,362
(2022 - £1,242) including VAT.

`10. TANGIBLE FIXED ASSETS`

`COST` `Additions` `DEPRECIATION` `Charge for year` `NET BOOK VALUE` `At 31 March 2023` `At 31 March 2022` `11.` `DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR` `Prepayments and accrued income` `12.` `CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR` `Other creditors` `13.` `MOVEMENT IN FUNDS` `Unrestricted funds` `General fund` `TOTAL FUNDS`	`At 1.4.22` `£` `136,589` `136,589`	`2023` `£` `4,862` `2023` `£` `7,178` `Net` `movement` `in funds` `£` `25,394` `25,394`	`Computer` `equipment` `£` `2,598` `271` `2,327` `-` `2022` `£` `4,081` `2022` `£` `5,518` `At` `31.3.23` `£` `161,983` `161,983`

continued...

Page 13

Love Caerphilly
Charitable Incorporated Organisation
(CIO)

`Notes to the Financial Statements - continued for the Year Ended 31 March 2023`

`13. MOVEMENT IN FUNDS - continued`

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

`Unrestricted funds` `General fund` `TOTAL FUNDS` `Comparatives for movement in funds` `Unrestricted funds` `General fund` `TOTAL FUNDS`	`Incoming` `resources` `£` `110,680` `110,680` `At 1.4.21` `£` `122,688` `122,688`	`Resources` `Movement` `expended` `in funds` `£` `£` `(85,286)` `25,394` `(85,286)` `25,394` `Net` `movement` `At` `in funds` `31.3.22` `£` `£` `13,901` `136,589` `13,901` `136,589`

Comparative 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 14

Love Caerphilly
Charitable Incorporated Organisation

(CIO)

`Notes to the Financial Statements - continued for the Year Ended 31 March 2023`

`14. RELATED PARTY DISCLOSURES`

The total amount of donations received, without conditions, from Trustees totalled £10,970 (2022 -
£12,060).

Page 15

`Love Caerphilly Charitable Incorporated Organisation (CIO)`

`Detailed Statement of Financial Activities for the Year Ended 31 March 2023`

`INCOME AND ENDOWMENTS` `Investment income` `Deposit Account interest` `Charitable activities` `Tithe` `Offering` `Gift Aid` `Total incoming resources` `EXPENDITURE` `Charitable activities` `Ministry` `Sunday Ministry` `Administration and compliance` `Premises expenses` `Publicity & evangelism` `Church family and Bible week` `Those in Need` `Giving` `Computer equipment depn` `Support costs` `Other` `Independent examination` `Total resources expended` `Net income`	`2023` `£` `314` `82,578` `12,462` `15,326` `110,366` `110,680` `41,517` `4,188` `2,535` `3,525` `5,613` `3,804` `8,490` `13,981` `271` `83,924` `1,362` `85,286` `25,394`	`2022` `£` `12` `71,167` `11,147` `12,693`
		`95,007`
		`95,019` `42,394` `1,371` `2,055` `2,410` `6,422` `1,354` `7,180` `16,690` `-`
		`79,876` `1,242`
		`81,118`
		`13,901`

This page does not form part of the statutory financial statements

Page 16