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2022-04-05-accounts

Registered Charity No. 1176302

Victory Outreach London City Church Trustees' Report and Accounts

5 April 2022

CONTENTS PAGE
Legal and Administrative Details 1
Trustees' Report 2
Independent Examiners’ Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Accounts 8

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2022

Trustees 1. Kelly Buckley 2. Elaine Patricia Curtis 3. Milton Charles Matthews

Charity registered Number 1176302 Date of charitable registration 15 December 2017 Principal office Victory Outreach West London 61 Bridge Street, Kington HR5 3DJ

Independent examiners NF Financial Solutions Ltd – C/o GoodtoGive

Bankers NatWest Bank Plc

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TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2022

Structure, governance and management

The 3 Trustees are:

  1. Kelly Buckley

  2. Elaine Patricia Curtis

  3. Milton Charles Mathews

New Trustees are appointed by the existing Board of Trustees on the basis of their expertise and involvement in furthering the mission and vision of the charity. The Board of Trustees have a variety of experience including Christian ministry and church administration, financial management, fundraising, education skills. The Board is accountable to the Charity Commission for the careful use of charitable and other public funds provided in a variety of forms, and for the achievement of appropriate performance standards in service delivery. The Board of Trustees meets at least quarterly to oversee the vision and strategies of the charity.

With the growth of activities of the charity an ever-increasing level of expertise is required on a day-to-day basis and an established management is in place that is capable of running the affairs of the Charity. The Charity's managers, listed on page 2, are in charge of the day-to-day management matters and are accountable to the trustees.

The Trustees remain committed to advancing the Christian faith, education in the areas of Christianity and recovery from drug addiction, prostitution and the relief of persons in need, particularly through the provision of facility, counselling and support.

Governing document:

Victory Outreach London City Church is charitable incorporated organisation, registered on 15 December 2017. The charity’s governing document was amended on 28 October 2019.

Recruitment and appointment of trustees:

The members of the General Trustee Board are trustees for the purposes of charity law. New trustees may be appointed by resolution of a meeting of the trustees.

Much of the charity's work focuses upon the promotion of the Christian religion and the running and maintenance of its places of worship.

The General Trustee Board seeks to ensure that the needs of this group are appropriately reflected through the diversity of the trustee body. To enhance the potential pool of trustees, the charity has, through selective advertising and networking with voluntary organizations active in the sector, sought to identify those who would be willing to become members of the charity and use their own experience to assist the charity.

Risk Management:

The trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.

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TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2022

Public Benefit:

The charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or aims' that are for the public benefit. Details of how the charity has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.

Objectives and activities:

To advance the Christian faith in accordance with the Statement of Beliefs appearing in the Schedule hereto in the trust deed in West London and in such other parts of the United Kingdom or the world as the trustees may from time to time think fit and to fulfil such other purposes which are exclusively charitable according to the laws of England and Wales and are connected with the charitable work of the Trust.

To relieve sickness and financial hardship and to promote and preserve good health by the provision of funds, good or services of any kind, including through the provision of counselling and support in such parts of the United Kingdom or the world as the Trustees from time to time may think fit.

Financial review:

Trustees have prepared the accounting policies for Victory Outreach London City Church in accordance with the requirements of the applicable SORPs and of best accounting practice. There were no activities during the financial year.

Plans for future periods:

The Charity plans to develop various fundraising strategy to include community outreach. Besides community outreach and events, the charity is aiming to achieve its targets through securing donations from willing individuals. A development board may be created to help include other avenues of fundraising to be included in the yearly programme.

Statement of Board of Trustees’ responsibilities

The Board of Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

Charity law applicable to charities in England/Wales requires the Board of Trustees to prepare financial statements for each financial year which gives a true and fair view of the state of affairs of the Charity and of the surplus or deficit of the Charity for that period. In preparing those financial statements the Board of Trustees have:

The Board of Trustees has overall responsibility for ensuring that the Charity has an appropriate system of controls, financial and otherwise. They are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the detection and prevention of fraud and other irregularities.

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TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2022

The Board of Trustees is responsible for the maintenance and integrity of the corporate and financial information. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the Trustees on and signed on their behalf by:

Milton Charles Matthews

Date: 06/02/2023

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INDEPENDENT EXAMINER`S REPORT FOR THE YEAR ENDED 05 APRIL 2022

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES

I report on the financial statements of the charity for the year ended 05 April 2022 which comprise the Statement of Financial Activities and Balance Sheet with associate notes.

This report is made solely to the charity's Trustees, as a body, in accordance with section 145 of the Charities Act 2011 and regulations made under section 154 of that Act. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my examination work.

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER

The charity's Trustees are responsible for the preparation of the financial statements, and they consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the Act) and that an independent examination is needed.

It is my responsibility to:

Basis of Independent Examiner's report

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Group/District and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent Examiner's statement

In connection with my examination, no matter has come to my attention:

have not been met; or

Signed: Dated: 06th February 2023

Basthiyan K. A. C. S. Rodrigo ( Bsc Accountancy, MBA, ACASL, FFA/FIPA) On behalf of NF Financial Solutions Ltd

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STATEMENT OF FINANCIAL ACTIVITIES

(Incorporating income and expenditure account)

FOR THE YEAR ENDED 5 APRIL 2022

----- Start of picture text -----
Unrestricted Restricted Total Funds Total Funds
2022 2022 2,022 2,021
Notes £ £ £ £
Incoming resources
General offerings 2 29,538 - 29,538 19,839
Gift Aid 2 5,790 - 5,790 2,575
Other Income 2 - - -
Total Incoming resources 35,329 - 35,329 22,414
Resources expended 3
Direct charitable expenditure 29,650 - 29,650 15,114
Governance costs 1.020 - 1,020 1,095
Total Resources expended 30,670 - 30,670 16,209
Movement in total fund for the year-
Net income / (expenditure) For the 4,659 - 4,659 6,205
year
Fund balance brought forward 6,205 - 6,205 -
Fund balance carried forward 10,864 - 10,864 6,205
----- End of picture text -----

6

BALANCE SHEET AS AT 5 APRIL 2022

Notes
CURRENT ASSETS
Debtors
4
Cash at bank and in hand
Creditors: amounts falling due within
one year
5
NET CURRENT ASSETS
NET ASSETS
CHARITY FUNDS
Unrestricted funds
Restricted funds
TOTAL FUNDS		 386
10,479		 2022
£





10,8644
10,864
-
10,864		 2021
£
2,196
4,419
10,864
-		 6,615
(410)
6,205
6,205
6,205
-
6,205

The financial statements were approved by the Trustees on and signed on their behalf, by:

06/02/2023

Milton Charles Matthews

The notes on pages 8 to 9 form part of these financial statements

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VICTORY OUTREACH LONDON CITY CHURCH NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2022

1 ACCOUNTING POLICIES

1.1 Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP), 'Accounting and Reporting by Charities' published in March 2005 and applicable accounting standards.

1.2 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

1.3 Incoming resources

All incoming resources are included in the Statement of financial activities when the charity has entitlement to the funds, certainty of receipt and the amount can be measured with sufficient reliability.

Donated services or facilities, which comprise donated services, are included in income at a valuation which is an estimate of the financial cost borne by the donor where such a cost is quantifiable and measurable. No income is recognised where there is no financial cost borne by a third party.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

1.4 Resources expended

Expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities, they have been allocated on a basis consistent with the use of the resources.

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the yearend are noted as a commitment, but not accrued as expenditure.

8

VICTORY OUTREACH LONDON CITY CHURCH NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 5 APRIL 2022

2 VOLUNTARY INCOME

Donations from individuals
Gift Aid
Interest Receivable
Total Income
3
GOVERNANCE COSTS
Governance
4
DEBTORS
Other debtors
5
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors		 2022
£
29,538
5,790
-
35,329
2022
£

1,020
2022

£
386
2022

£
-		 2021
£
19,839
2,575
-
22,414
2021
£
1095
2021
£
2,196
2021
£
410


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