## **Lincoln Road Chapel** ## **Trustees Annual Report for year ending 31[st] December 2022** ## **Aim and Purposes** The principal purpose of the Church is the advancement of the Christian faith in accordance with Membership Fundamentals. The Church may also advance education and carry out other charitable purposes in the United Kingdom and/or other parts of the world. The Trustees are also specifically responsible for the maintenance of the Church buildings, the manse at 70 Sutherland Road and the adjacent flats (Beaufort House) at 442 Lincoln Road. ## **Objectives and Activities** The Trustees are committed to enabling as many people as possible to worship at our church and to become part of the community at LRC. The Trustees maintain an overview of worship in the Church and make suggestions on how our services can involve the many groups that live within the local area. Our service and worship put faith into practice through prayer and Scripture, music and teaching. When planning our activities for the year, the Trustees have considered the Charity Commission guidance on public benefit, and in particular, the guidance on charities for the advancement of religion. To this end we try to enable ordinary people to live out their faith as part of our church community through: - Regular public worship, prayer, Bible study, preaching and teaching; - Communion of the Lord’s Supper which shall normally be observed once a week; - Evangelism and mission, locally, regionally, nationally and internationally; - Nurture and growth of Christian disciples; - Giving and encouraging pastoral care; - Supporting and encouraging charitable social action in the United Kingdom and abroad; - Encouraging relationships with and supporting other Christians. To facilitate this work it is important that we maintain the fabric of the Church and buildings ## **Achievements and Performance** ## _**Worship and Prayer**_ The Trustees were keen to offer a range of services during the week and over the course of the year that our community find both beneficial and spiritually fulfilling. This includes Bible Study and Prayer Meetings for committed Christians, Gospel and outreach meetings for those exploring the faith. Our Morning Meeting is run in conjunction with a Junior Church to enable and encourage Families with Children to attend. We held our first Fellowship Meal since the easing of lockdown regulations in 2022, this was held in the Rear Hall following the Sunday Morning Service and was intended as an outreach, but also to encourage interaction and a feeling of community within our congregation. **Page 1** ## **Lincoln Road Chapel** ## **Trustees Annual Report for year ending 31[st] December 2022** The Church continues to maintain an online presence, publishing a meeting on You Tube each Sunday and holds a weekly Zoom Meeting for Prayer and Bible Study. We have a WhatsApp Group and Weekly Newsletter to circulate prayer requests and keep the congregation in touch and aware of developments. All are welcome to attend our regular services. At present the Church has 36 members, with an average attendance on the Sunday Morning Meeting of between 45 and 60 people. ## _**The Church Buildings**_ After a period of inactivity enforced by Covid, the Trustees have begun a programme to overhaul the Church owned buildings. Work on fixing the leaks in the Main Hall roof were undertaken in February and an upgrade to the area between the halls was undertaken over the Summer Holidays. This included a new roof to this area (the old roof having asbestos content), new Rear Hall doors, and new cupboards and heating. A full refit of the Upstairs Flat in Beaufort House was also undertaken. This included an upgrade to the insulation, new windows to the rear, new bathroom suite and a new fitted kitchen. A full redecoration was undertaken as well as new carpets throughout ## _**Pastoral Care**_ During the week the Rear Hall was used by our Toddlers group on Thursday. We have approximately 20 children for each session (morning and afternoon) with a waiting list for the morning session. We also ran Family Church Days twice in 2022 on a Saturday. This involved craft activities for the Children, a short talk and a meal afterwards. The Christmas themed day was particularly well received with approximately 60 people in attendance, a few of whom were new to the Church. Some members of the Church were unable to attend meetings due to sickness or age. Pastor Paul Fellows regularly undertook home and hospital visits to any who require this. ## _**Mission and Evangelism**_ We demonstrated our faith by giving to those in need. Although the Church does not take a collection there were boxes at the back of the Church for those who wished to donate in that way. Any donations made to the Church on the 1[st] Sunday of each month were given to charitable causes. Regular recipients included Tear Fund, FEBA Radio, CAM International and Open Doors UK. The Church also responded to specific appeals. ## _**Financial Review**_ The Church Finances remained in a satisfactory position. The assembly continues to be dependent on donations made by the Church members and other donors, which for the year ending 31[st] Dec. 2022 totalled £46,163. Other income gained was from Rental Income for Beaufort House (£4,292), Gift Aid receipts (£9,088), Toddler Group Fees (£2,660) Interest on investments (£290) and Legacies (£3,400). **Page 2** ## **Lincoln Road Chapel** ## **Trustees Annual Report for year ending 31[st] December 2022** Whilst total expenditure (£92,593) was greater than income by £26,700, this was because of the work undertaken to upgrade the buildings, whilst it is envisaged that work undertaken to Beaufort House will increase rental receipts in the coming years. ## _**Reserves Policy**_ The Trustees agreed to maintain a balance of £22,000 in the reserve fund, this being part of the £35,000 currently held in National Savings income Bonds. This equates to at least three months unrestricted payments ## _**Volunteers**_ The work was sustained by the good will of the members who give of their time, skills and money so willingly to enable this ministry to continue. ## _**Structure, governance and management**_ The Lincoln Road Chapel is a registered charity (Number 1175925). The Churches Constitution (which includes the fundamental beliefs) details the management and governance of the church. The governing body of the church is the board of trustees, currently comprising of four people. The Charity Trustees are responsible for the governance and daily running of the Church acting according to the will of God as discerned by the Church Members’ Meeting and subject to any specific or general directions of the Church Members’ Meeting. The Trustees meet most weeks to discuss matters arising from the day to day running of the church. In regard to spiritual matters, the pastor and elders may provide guidance and advice as may be necessary from time to time. The full membership of the church meets three times a year to consider all matters of general concern including deciding on how the funds of the church are to be spent. Special church members meetings can be called should this be deemed necessary. ## _**Administrative information**_ **Trustees** Paul Fellows (Pastor) Alan Bocock (Treasurer) Richard Fellows (Treasurer) Sathulu Chilongo **Correspondence address** 70 Sutherland Road Edmonton N9 7QG **Independent Examiner** Renata Stamoulis MA, MICB Dip.PM Dip 24 Apple Grove Enfield EN1 3DD ## _**Approved by the Trustees on 28th September 2023 and signed on their behalf by Pastor Paul Fellows**_ **Page 3** ## **Lincoln Road Chapel** ## _**Financial Statements for the year ending 31st December 2022**_ ## **Statement of Financial Activities** |**Statement of Financial Activities**|| |---|---| ||**Unrestricted**
**Restricted**
**Endowment**
**Total**
**Prior year**
**funds**
**funds**
**funds**
**funds**
**total funds**| |**Incoming resources**
Incoming resources from generated funds
Voluntary income
Investment income
Other incoming resources
**Total income**
**Resources used**
Charitable activities
Other resources used
**Total expenditure**
Gains / losses on investment assets
**Net income / (expenditure) resources before**
**transfer**
**Transfers**
Gross transfers between funds - in
Gross transfers between funds - out
**Other recognised gains / losses**
Gains on revaluation, fixed assets, charity's own
use
**Net movement in funds**
**Total funds brought forward**
**Total funds carried forward**
**Represented by**
**Unrestricted**
General fund
**Designated**
Beaufort House Fund
Benevolent Fund
Bengali Christian Ministry
Building Renovation Fund
Manse Fund
Missionary
Mothers and Toddlers
Outreach Fund
Reserve Fund
Sunday School
Youth Fund|61,311
—
—
61,311
71,873
289
—
—
289
6
4,292
—
—
4,292
7,557| ||**65,893**
**—**
**—**
**65,893**
**79,437**
96,593
—
—
96,593
46,872
—
—
—
—
—| ||**96,593**
**—**
**—**
**96,593**
**46,872**
—
—
—
—
—| ||**(30,699)**
**—**
**—**
**(30,699)**
**32,564**
34,496
—
—
34,496
4,195
(34,496)
—
—
(34,496)
(4,195)
—
—
—
—
—| ||**(30,699)**
**—**
**—**
**(30,699)**
**32,564**| ||**123,367**
**—**
**—**
**123,367**
**90,802**| ||**92,667**
**—**
**—**
**92,667**
**123,367**
53,092
—
—
53,092
67,197
10
—
—
10
5,661
197
—
—
197
507
—
—
—
—
296
3,946
—
—
3,946
14,811
8,987
—
—
8,987
9,432
738
—
—
738
874
1,341
—
—
1,341
533
1,281
—
—
1,281
985
22,000
—
—
22,000
22,000
—
—
—
—
—
1,070
—
—
1,070
1,066| **Page 4** ## **Balance Sheet** |**Balance Sheet**|| |---|---| ||**General Designated**
**Restricted Endowment**
**This year**
**Last year**| |**Current assets**
Investments
Cash at bank and in hand
**Net current assets less current**
**liabilities**
**Total assets less current liabilities**
**Total net assets less liabilities**
**Represented by**
**Unrestricted**
General fund
**Designated**
Bengali Christian Ministry
Building Renovation Fund
Benevolent Fund
Outreach Fund
Mothers and Toddlers
Youth Fund
Missionary
Beaufort House Fund
Manse Fund
Reserve Fund
**Funds of the church**|—
35,000
—
—
35,000
35,000
53,092
4,574
—
—
57,667
88,367| ||**53,092**
**39,574**
**—**
**—**
**92,667**
**123,367**| ||**53,092**
**39,574**
**—**
**—**
**92,667**
**123,367**| ||**53,092**
**39,574**
**—**
**—**
**92,667**
**123,367**| ||**53,092**
**39,574**
**—**
**—**
**92,667**
**123,367**
53,092
—
—
—
53,092
67,197
—
—
—
—
—
296
—
3,946
—
—
3,946
14,811
—
197
—
—
197
507
—
1,281
—
—
1,281
985
—
1,341
—
—
1,341
533
—
1,070
—
—
1,070
1,066
—
738
—
—
738
874
—
10
—
—
10
5,661
—
8,987
—
—
8,987
9,432
—
22,000
—
—
22,000
22,000| ||**53,092**
**39,574**
**—**
**—**
**92,667**
**123,367**| ## **Statement of assets and liabilities** ||**General Designated**
**Restricted Endowment**
**This year**
**Last year**| |---|---| |**Current assets - Cash at bank and in**
**hand**
Bank current account -
Bank reserve account -
**Totals**
**Current assets - Investments**
NS&I Income Bonds -
**Totals**
**Grand total**|60,464
(9,171)
—
—
51,293
82,297
(1,247)
7,621
—
—
6,373
6,070| ||**53,092**
**4,574**
**—**
**—**
**57,667**
**88,367**
—
35,000
—
—
35,000
35,000| ||**—**
**35,000**
**—**
**—**
**35,000**
**35,000**| ||**53,092**
**39,574**
**—**
**—**
**92,667**
**123,367**| **Page 5** ## **Fund movement by type** |**und movement by type**|| |---|---| ||**Opening**
**Incoming Outgoing Transfers Gains/losses Journals Closing**| |**BCM - Bengali Christian Mi**
Designated
**Sub-total for BCM**
**CommFD - Outreach Fund**
Designated
**Sub-total for CommFD**
**General - General fund**
Unrestricted
**Sub-total for General**
**MothTodd – Toddlers Group**
Designated
**Sub-total for MothTodd**
**Youth - Youth Fund**
Designated
**Sub-total for Youth**
**Mission - Missionary**
Designated
**Sub-total for Mission**
**Beaufort - Beaufort House**
**Fund**
Designated
**Sub-total for Beaufort**
**Manse - Manse Fund**
Designated
**Sub-total for Manse**
**Reserve - Reserve Fund**
Designated
**Sub-total for Reserve**
**Building - Building Renovation**
Designated
**Sub-total for Building**
**Bene - Benevolent Fund**
Designated
**Sub-total for Bene**
**Grand total**|296
—
—
(296)
—
—
—| ||**296**
**—**
**—**
**(296)**
**—**
**—**
**—**
985
—
—
296
—
—
1,281| ||**985**
**—**
**—**
**296**
**—**
**—**
**1,281**
67,197
53,655
33,960
(33,800)
—
—
53,092| ||**67,197**
**53,655**
**33,960**
**(33,800)**
**—**
**—**
**53,092**
533
2,660
1,651
(200)
—
—
1,341| ||**533**
**2,660**
**1,651**
**(200)**
**—**
**—**
**1,341**
1,066
12
7
—
—
—
1,070| ||**1,066**
**12**
**7**
**—**
**—**
**—**
**1,070**
874
5,133
7,270
2,000
—
—
738| ||**874**
**5,133**
**7,270**
**2,000**
**—**
**—**
**738**
5,661
2,132
34,782
27,000
—
—
10| ||**5,661**
**2,132**
**34,782**
**27,000**
**—**
**—**
**10**
9,432
2,160
2,605
—
—
—
8,987| ||**9,432**
**2,160**
**2,605**
**—**
**—**
**—**
**8,987**
22,000
—
—
—
—
—
22,000| ||**22,000**
**—**
**—**
**—**
**—**
**—**
**22,000**
14,811
—
15,865
5,000
—
—
3,946| ||**14,811**
**—**
**15,865**
**5,000**
**—**
**—**
**3,946**
507
140
450
—
—
—
197| ||**507**
**140**
**450**
**—**
**—**
**—**
**197**| ||**123,367**
**65,893**
**96,593**
**—**
**—**
**—**
**92,667**| **Page 6** ## **Analysis of Income and Expenditure** |**Unrestricted Designated**
**Restricted**
**Endowment**
**This year**
**Last year**
**INCOME AND ENDOWMENTS**
**_Incoming resources from generated funds - Voluntary income_**
0101 - Gift Aid Standing Order
18,090
—
—
—
18,090
19,260
0102 - Gift Aid Bank Transfer
8,274
500
—
—
8,774
8,385
0110 - Gift Aid Envelope scheme
5,761
100
—
—
5,861
8,620
0115 - Gift Aid Small Plate
2,421
1,421
—
—
3,842
—
0120 - Church offerings
6,331
2,564
—
—
8,895
9,982
0303 - Sundry collections
—
2,660
—
—
2,660
182
0601 - Income tax recovered
9,088
—
—
—
9,088
9,607
0850 - Special Gift Non-Gift Aid
3,400
700
—
—
4,100
15,836
0851 - Special Gift - Gift Aid
—
—
—
—
—
—
Total
53,365
7,945
—
—
61,311
71,873
**_Incoming resources from generated funds - Investment income_**
1020 - Interest received
289
—
—
—
289
6
Total
289
—
—
—
289
6
**_Other incoming resources_**
1030 - Rent
—
4,292
—
—
4,292
7,557
Total
—
4,292
—
—
4,292
7,557|**Unrestricted Designated**
**Restricted**
**Endowment**
**This year**
**Last year**
**INCOME AND ENDOWMENTS**
**_Incoming resources from generated funds - Voluntary income_**
0101 - Gift Aid Standing Order
18,090
—
—
—
18,090
19,260
0102 - Gift Aid Bank Transfer
8,274
500
—
—
8,774
8,385
0110 - Gift Aid Envelope scheme
5,761
100
—
—
5,861
8,620
0115 - Gift Aid Small Plate
2,421
1,421
—
—
3,842
—
0120 - Church offerings
6,331
2,564
—
—
8,895
9,982
0303 - Sundry collections
—
2,660
—
—
2,660
182
0601 - Income tax recovered
9,088
—
—
—
9,088
9,607
0850 - Special Gift Non-Gift Aid
3,400
700
—
—
4,100
15,836
0851 - Special Gift - Gift Aid
—
—
—
—
—
—
Total
53,365
7,945
—
—
61,311
71,873
**_Incoming resources from generated funds - Investment income_**
1020 - Interest received
289
—
—
—
289
6
Total
289
—
—
—
289
6
**_Other incoming resources_**
1030 - Rent
—
4,292
—
—
4,292
7,557
Total
—
4,292
—
—
4,292
7,557| |---|---| ||289
—
—
—
289
6
—
4,292
—
—
4,292
7,557| ||—
4,292
—
—
4,292
7,557| |**INCOME TOTAL**|53,655
12,237
—
—
65,893
79,437| |**EXPENDITURE**
**_Charitable activities_**
2200 - Heating, light and water
2201 - Insurance
2203 - LBE Rates
2231 - Cleaning
2232 - Other working expenses
2233 - Building maintenance
2234 - Catering
2235 - Audio and Visual
2500 - Ministerial Net Pay
2501 - Travel Expenses
2502 - Visiting Ministry
2600 - Publicity
2610 - Flowers
2620 - Church Secretary
Expenses
2630 - Gifts and Prizes
2640 - Stationary
2650 - Arts, Crafts and Activities
2660 - Safeguarding Expenses
2700 - Missionary Payment
2710 - Benevolent Fund gift
Total|2,142
1,349
—
—
3,492
1,948
1,472
1,064
—
—
2,536
2,360
—
160
—
—
160
—
272
52
—
—
325
62
2,180
1,861
—
—
4,041
3,269
838
49,019
—
—
49,857
4,095
160
503
—
—
663
60
379
—
—
—
379
2,087
21,750
—
—
—
21,750
21,816
—
—
—
—
—
—
380
—
—
—
380
120
522
—
—
—
522
1,693
834
—
—
—
834
460
54
—
—
—
54
235
—
365
—
—
365
66
19
—
—
—
19
—
19
536
—
—
555
292
640
—
—
—
640
137
—
7,270
—
—
7,270
5,205
—
450
—
—
450
227| ||33,960
62,633
—
—
96,593
46,872| |**EXPENDITURE TOTAL**|33,960
62,633
—
—
96,593
46,872| ||| |**GRAND TOTAL**|19,695
(50,395)
—
—
(30,699)
32,564| **Page 7** LINCOLN ROAD CHAPEL **ACCOUNTS** 1st Jan. to 31st Dec 2022 **RECEIPTS AND PAYMENT** Charity Commission Registered Charity No. 1175925 |Offerings (Gift Aid)
Offerings & Special Gifts (No Gift Aid)
Gift Aid Small Donations
Toddler Group Fees
Benevolent Fund Receipts (Gift Aid)
Benevolent Fund Receipts - (No Gift Aid)
Designated Offerings - Missions (Gift Aid & GASD)
Designated Offerings - Missions (No Gift Aid)
Legacies
Interest: Bank & Investment Accounts
Rent Income: Beaufort House
Tax Recovered from HMRC (Gift Aid Receipts)
**RECEIPTS - OTHER**
**RECEIPTS FROM ASSETS**
**RECEIPTS - VOLUNTARY**|**2022**
32,125.10
6,343.50
2,421.10
2,660.00
0.00
140.00
2,021.70
3,112.00
3,400.00
52,223.40
289.99
4,292.00
4,581.99
9,088.05
**65,893.44**
**123,367.28**
**189,260.72**
23,914.80
380.00
1,659.72
522.21
600.00
27,076.73
4,531.30
3,290.96
2,214.00
778.97
25,381.12
13,069.00
6,120.00
2,796.00
58,181.35|**2021**
34,404.70
8,345.00
1,830.00
200.00
130.00
100.00
2,750.00
1,455.00
13,051.58| |---|---|---| |||62,266.28| |||6.41
7,557.00| |||7,563.41| |||| |||9,607.32| |||| |**Total Receipts**||**79,437.01**| |**TOTAL**
**Bank Balances at 1st Jan. 2022**||23,978.68
120.00
301.23
1,428.85
1,000.00| |Salary/Allowances/Income Tax
Visiting Ministry
Junior Church & Toddler Group
Publicity & Evangelistic outreach
Annual Offering to A.O.G.
Council Tax & Insurances
Utilities (Gas, Electricity & Water)
Repairs, Maintenance & Improvements
Grounds Maintenance & Tree Surgery
Re-fit Beaufort House 1st Floor Flat
New Roof, Doors & Cuboards Etc. (Between Halls)
Boiler Replacement & Heating Upgrade (B.H. Grd Floor Flat)
Upgrade Main Hall Electrics
**PAYMENTS - MINISTRY**
**PAYMENTS - PROPERTY**||| |||26,828.76| |||3,947.93
1,564.52
4,479.34
570.00
0.00
0.00
0.00
0.00| |||10,561.79| Page 1 of 2 |Stationery
Catering (Family Church, Joint Meetings etc.)
Audio & Visual
Miscellaneous
Toys & Arts/Craft Materials
Gifts & Prizes
Cleaning
Safeguarding Expenditure
Church Flowers & Cards
Accounts (Software, Examination etc.)
World Mission & Relief Appeals
Benevolent Gifts
**PAYMENTS - GIFTS**
**PAYMENTS - ADMINISTRATION**|| |---|---| ||| ||| ||| ||| |**Total Payments**|| |**Bank Balances at 31st Dec. 2021**
**TOTAL**|| |NatWest Current a/c
NatWest Business Reserve a/c
National Savings Income Bonds|| ## **ASSETS - With approximate value** |**ASSETS - With approximate value**|| |---|---| |Lincoln Road Chapel, Ponders End, Enfield, EN3 4AH|£500,000| |Beaufort House, 442 Lincoln Road, Enfield, EN3 4AH|£500,000| |The Manse, 70 Sutherland Road, Edmonton, N9 9QG|£400,000| _**These properties are held mortgage free in the name of the Trustees for Lincoln Road Chapel**_ Page 2 of 2 For Attention of: Richard Fellows, Head Trustee & Trustees: Alan Bocock Chilongo Sathulu Rev Paul Fellows October 2023’ Lincon Road Chapel Registered Charity Number:1175925 ## **Independent Accounts Examination** 1[st] January – 31[st] December 2022 1 Lincoln Road Chapel Lincoln Road, Ponders End, EN3 4AH. . ## Independent Accounts Examination 2022’ ## **THE REPORT** ## Content: 1. Charity Outline page 3 2. Charity Commission Directions page 4 3. Examination as per guidance in the Charity Act 2011 page 5-9 4. Additional Work Related and References page 9 5. Closing Statement page 10 2 ## Lincoln Road Chapel Independent Accounts Examinaton to 31[st] December 2022 ## 1. Charity Outline Lincoln Road Chapel is a Registered Charity aiming to spread the Christian Faith, educate and train young people and stand by those in need. It achieves its goals through Sunday Service Worship, Bible Studies and provision of activities to local communities, such as Sunday School, Mothers and Toddlers and Youth Group and through the distribution of goods and financial support of other Local and International Charities. The Charity's income is based on donations by the church members and associates from regular activities and contributions from respondents to appeals. Charity fully met its financial objectives in 2022, collecting for several causes and making meaningful financial decisions regarding the renovation of Beauford's House. Due to the above decisions, the total expenses are much more significant than the income and previous year's expenses. Trustees, however, carefully planned financial recovery from the burden of building maintenance investment. As expected, rental income will yield more now than when the property needed renovation and rent was under market value. In the year ending 31[st] December 2022 Income was £ 65,893 (rounding discrepancies thorough the Reports) comprising of - Gift Aid Total £36,567, Church offerings £8,895, Sundry collections £2,660, Income tax recovered £9,088, Special Gift Non-Gift Aid £4,100, - Interest received £289, Rent £4,292. The above are Income general classifications. They are detailed in accounts as funds move by Unrestricted (£53,655) or Designated (£12,237) type Fund. Charity’s Accounts are prepared on a Receipts and Payment basis, meaning that all income and expenditure are recorded within the accounting period, and no bill or invoice is accrued or prepaid. In this examination, I look only at the Charity Commission Directions that relate directly to Lincoln Road Chapel accounts’ and are on the Receipts and Payment basis. 3 ## Lincoln Road Chapel Independent Accounts Examinaton to 31[st] December2022 ## **Independent Examination as per Charity Commission Directions** |Directon|Directon Heading|Applicable to Receipts and
Payments Accounts| |---|---|---| |1.|Check if the Charity is eligible for an
Independent Examination|✓| |2.|Check if there are conflicts of interest
preventing the Examiner from undertaking the
task|✓| |3.|Record independent examination|✓| |4.|Plan the independent examination|✓| |5.|Check if the accounting records are kept to the
required standards|✓| |6.|Check that the accounts are consistent with the
accounting records|✓| |7.|If the accounts are prepared on an accruals basis
and one or more related party transactions took
place the examiner must check if these were
properly disclosed in the notes to the accounts|**_**| |8.|Check the reasonableness of the significant
estimates and judgments and accounting
policies used in accounting for the types of fund
held and in the preparation of the accounts|✓| |9.|The examiner must check whether the trustees
have considered the financial circumstances of
the charity at the end of the reporting period
and, if the accounts are prepared on an accruals
basis, check whether the trustees have made an
assessment of the charity’s position as a going
concern when approving the accounts|Part| |10.|Check the form and content of the accounts|✓| |11.|Identify items from the analytical review of the
accounts that need to be followed up for further
explanation or evidence|✓| |12.|Compare the trustees’ annual report with the
accounts|✓| |13|Write and sign the independent examination
report|✓| ||-
Statutory duty to report matters of
material significance to the Commission.
-
Examiner’s discretion to report relevant
matters to the Commission|| 4 ## Lincoln Road Chapel Independent Accounts Examinaton to 31[st] December2022 1. Lincoln Road Chapel’s Qualifying Thresholds for Independent Examinations are Grand Total Income at Net Value* of £65,891, which is below the £1 million or £250,000 (if considered along the value of assets, which is required to be below 3,26 million) * After taking off the Expenses 2. None 3. The process of Independent Examination is recorded in “Notes” that will be accessible for six years after the Examination. 4. Plan - Confirming that an Independent Examination is required rather than an Audit of the Accounts - Agreeing the Purposes and Terms and Conditions of the Examination – Letter of Agreement - Setting up dates for the examination and completion - Arranging access to the manual and online files - Detailed examination of Accounts of Lincoln Road Chapel as per guidance in the Directions and Appendix in the Charity Commission Directions - Weekly briefings and correspondence with Mr R. Fellows, representing the Trustees, to expand topics picked up in the Examination. - Keeping regular Notes, updating with the work done, planning questions, and recording explanations. - Drawing conclusions Writing and signing the Report - Follow up – Ensuring the presentation of the Report to the Trustees and that the Accounts are submitted to the Charity Commission by the Deadline of 31st of October. AML check with ICB* ICB* - the Institute of Certified Bookkeepers 5. Upon examining the financial records, I can state with confidence that the documents are kept to good standards, are sufficient and as per requirements. The manual binder is well organised, detailing transactions that can be verified across online records. 5 Lincoln Road Chapel Independent Accounts Examinaton to 31[st] December2022 ## Direction 5 Continued A system of notes and references is maintained, allowing us to easily check bills, receipts, Gift Aids, non-Gift Aid Payments, Bank Statements, etc. Documentation is supporting the events and charitable actions carried out. 6. Accounts of Lincoln Road Chapel are prepared with diligence and care, are updated regularly and checked by the three Trustees of the Lincoln Road Chapel for accuracy and adherence to the requirements. I checked the figures from online records selectively against manual files, and they do accord. Financial reports may, however, display negligible differences due to the software rounding up. Charity’s income is traceable, and sources are clearly defined as per the fund to which purpose they serve as expenditure. In the General Fund, we find all charitable income that the Donor does not purposefully mark. On the contrary, the Designated funds collect and distribute sums set aside to address the Donor’s wish generally but do not qualify as Restricted Funds (for the specific purpose). Those principles are well kept in the accounts of Lincoln Road Chapel, and Mr R Fellows representing the Trustees, expressed his continuous commitment to the improvement of fund flow presentation in the accounts. I have discussed several funds with Mr R. Fellows, and found out about careful financial planning for activities such as building maintenance of Beauford House, one of the buildings belonging to LRC and what controls were in place to detect and correct entries if the Trustees in hindsight deemed the money spent, should have been accounted differently that is as coming out from the different fund. Throughout the accounts, consistency of detail is maintained. At the same time, the presentation is straightforward enough to enable a laic person to conclude the activities and their sources of finance without any in-depth study. 7. N/A 8. Above (in Direction 6), I explained how the Trustees of Lincoln Road Chapel plan for activities and the process put in place when considering substantial expenses from funds. Positive and the possibility of the negative impact of its decisions in the long term. Similarly, recording the transfer of funds is well-discussed, documented and reviewed. Regular meetings and discussions help spot any possible accounting mistakes 6 Lincoln Road Chapel Independent Accounts Examinaton to 31[st] December2022 ## Direction 8 Continued quickly. Mr R. Fellows gave me several examples of Trustee's teamwork to eliminate errors and strive for accurate accounting. Moreover, I am pleased with the explanation of the planning, estimating, and judging of how the financial decisions would impact the future financial position of the Charity. Here, I will give an example of how well-thought-out the project of renovations of the Beuford House, belonging to the Charity. The investment is now expected to pay off, and the rental income will bring two or three-fold monthly profit compared to before the renovation. The reasoning behind the classification of Funds and their use in the process of activities is present throughout the accounts is satisfactory, and this part is under continuous development to strive for perfection. In summary, the Trustees of Lincoln Road Chapel display skills, care diligence and a good understanding of different types of funds when preparing accounts. They manage the accounts well, ensuring that they reflect the Charity's Work and that the Flow of Funds is accurate per the work undertaken. 9. The financial position of the Charity at the end of the financial year has been discussed at the Trustees' last meeting of the year and additionally presented in the Trustees' Annual Report. Trustees are confident of their financial decisions in 2022', about the renovation of Beauford House and knew beforehand the economic impact of this expense. Having meticulously planned this expense, Trustees now expect the money spent on renovation to "pay itself back" in the form of increased rental income. Despite the greater expense total in 2022, the Charity's financial position is growing strong considering the number of regular donors and Cash in Bank and Hand and Current Assents Investments. Mr R. Fellow’s explanations and the Trustees' Annual Report reasonably state that the Trustees have considered Charity’s position at the end of the financial year. 7 Lincoln Road Chapel Independent Accounts Examinaton to 31[st] December2022 10. Lincoln Road Chapel prepares its accounts on a Receipts and Payments basis. I have checked the Content of the Accounts and the qualifying criteria for choosing the Receipts and Payments format. As Charity is a non-company type whose gross income is below £250 000; it is eligible to prepare the accounts on a Receipts and Payments basis. Therefore, the Accounts of Lincoln Road Chapel are in the correct format. I have checked the Content of Manual and Online Files maintained on the Software Finance Coordinator. I looked through the Receipts, Bills, Gift Aid Records, Bank Statements, List of Non-Invoice Payments and Reports. I have additionally run several Reports on the Finance Coordinator to verify the information and to create independent picture of the Charity’s accounts. Records are kept to good standards, considering the work necessary for accurate filing and manual inputs on software. Charity Trustees strive for continuous improvement. 11. A sound reconciliation system leaves little room for error or discrepancies. Though differences come up in the Reports, those are negligible due to the rounding up. Accounts are triple checked by the Trustees of the Lincoln Road Chapel so that this responsibility is shared, and errors minimised. Following last year’s recommendations to improve the identification of all GA, a system of Gift Aid submission to HMRC through another software called Donations Coordinator and reconciliation with the Finance Coordinator, where GA is primarily recorded, has been put in place. It improved the analytical view of the accounts; the transactions are traced from the source to submission to HMRC. The accounts are thus transparent. 12. The Trustees Annual Report of Lincoln Road Chapel is a comprehensive document providing in-depth information about the Charity, goals, work, performance and financial position in the year ending 31st December 2022. This document alone can determine opinion about Lincoln Road Chapel due to the detail of information it covers. I have verified information on the Annual Report against the Accounts of Lincoln Road Chapel and did not identify any significant inconsistencies. 8 Lincoln Road Chapel Independent Accounts Examinaton to 31[st] December2022 ## Direction 12 Continued There are slight differences in Expenditure as per Fund between the Trustee's Annual Report (Unrestricted: £33,960, Designated: £62,633) and the Reports I run (Analysis of Income and Expenditure, for example, with Unrestricted:34,280, Designated:62,313) however, I accept the difference as Mr R. Fellows has provided details about the expense reclassified following the handover of the accounts. Also, as mentioned above, the rounding discrepancies are in the Reports. I have looked at the accounts of the previous years, the income and the expenditures, and those are consistent with the income in 2022. The expenses in 2022 are much more considerable than last year, but those were necessary, understandable and planned building renovation expenses. 13. Information on the pages of this document is the Independent Examination Report completed on the 30th of October 2023. Legal References: Charity Commission Guidance Independent Examination of Charity Accounts -www.gov.uk https://register-of-charities.charitycommission.gov.uk/ Companies Act 2006 Additional Requirements: A statutory duty to report matters of material significance to the Commission. Examiner’s discretion to report relevant issues to the Commission. AML (Anti-Money Laundering) checks under supervision of the Institute of Certified Bookkeepers. ICB Client Record No: 155736 9 Lincoln Road Chapel Independent Accounts Examinaton to 31[st] December2022 Statement: Upon examining the Accounts of Lincoln Road Chapel, Registered Charity number 1175925, I have no concerns, and no significant matters came to my attention. ## Renata Stamoulis MA, Independent Examiner MICB Full Member Mr Richard Fellows Representing the Trustees of LRC 30/10/2023 10