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2024-03-31-accounts

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

KIRDFORD CHAPEL CIO

(CHARITABLE INCORPORATED ORGANISATION) CHARITY REGISTRATION NUMBER 1177457

Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham PO18 8NF

KIRDFORD CHAPEL CIO (CHARITABLE INCORPORATED ORGANISATION) CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

Page
Legal and Administrative Information 3
Trustees' Report 4 to 7
Independent Examiner's Report on the Accounts 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Accounts 11 to 17

KIRDFORD CHAPEL CIO (CHARITABLE INCORPORATED ORGANISATION)

LEGAL AND ADMINISTRATIVE INFORMATION

CHARITY NUMBER

1177457

WORKING NAMES

Kirdford Chapel

START OF FINANCIAL YEAR

01 April 2023

END OF FINANCIAL YEAR

31 March 2024

TRUSTEES AT 31 MARCH 2024

Mr Roger John Loosley Chairman Mrs Beatrice Anne Wood Deacon Ms Miriam Ruth Lindsay Deacon Mr Robert Arthur Sneller Mrs Jill Wigmore Deacon Mrs Judith Joy Loosley Deacon

The existing trustees appoint any new trustees following the provisions laid out in the CIO's governing instrument.

GOVERNING INSTRUMENT

CIO - Association Registered 07 Mar 2018

REGISTRATION DATE

7th March 2018 : CIO registration

OBJECTS

  1. The advancement of the Christian faith in accordance with the Basis of Faith primarily, but not exclusively within Kirdford and the surrounding neighbourhood, and:-

  2. Such other charitable purposes as shall, in the opinion of the members of the Church in general meeting, put into practice the Christian faith in accordance with the Basis of Faith and consistent with the Doctrinal Distinctives and Ethical Statements.

CORRESPONDENCE ADDRESS

Apartment 203 The Residence 4 Alexandra Terrace Guildford GU1 3DA

PRIMARY BANKERS

Lloyds TSB Bank Plc 514 Cowbridge Road East Victoria Park Cardiff CF5 1BL

INDEPENDENT EXAMINER

Donna Leppitt Independent Examiners Ltd Unit 2 The Broadridge Business Centre Delling Lane Bosham PO18 8NF

3

KIRDFORD CHAPEL CIO

TRUSTEE ANNUAL REPORT for the year ended 31 March 2024

1. Introduction

The trustees of the charity, Kirdford Chapel CIO, present their report with the financial statements of the charity for the year ended 31 March 2024.

The trustees have adopted the provisions of Accounting and Reporting by 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 (FRS102) (effective 1 January 2005).

2. Structure, governance, and management

The Trustees have the responsibility to appoint trustees and appoint any new trustees following the provisions laid out in the organisation's governing instrument.

The following have served throughout the accounting period:

Anne Wood resigned as a Trustee on 17 April 2024.

Normally, the Trustees meet four times per year to consider financial considerations and operations of the Charity.

Governing document

Kirdford Chapel is a Charitable Incorporated Organization governed by a constitution adopted on the 22 October 2017 and entered on the Register of Charities by the Charity Commission on 7 March 2018 under number 1177457.

Organisational structure

The charity employs a Community Pastor, who reports to the Trustees. The Trustees give their time voluntarily and received no benefits from the charity, except that the charity rents a house from Judith Loosely for occupation of the Community Pastor and his family. No expenses have been reclaimed by any of the trustees from the charity in the period concerned, other than re-imbursement of payments made on the charity’s behalf.

The general governance of the charity is the responsibility of the Trustees; however, the day-to-day operation is delegated to the Deacons.

1. Aims and purposes

Our purposes as recorded in our constitution are:

provided that the advancement of such purposes must be undertaken in a manner that is consistent with the Doctrinal Distinctives and Ethical Statements as may be adopted and amended by the Church from time to time in accordance with the provisions of the Church Handbook.

4

TRUSTEE ANNUAL REPORT (Continued)

4 Achievements and Performance

The charity carries out a wide range of activities in pursuit of its charitable aims. The trustees consider that these activities, summarised below, provide benefit both to those who are part of Kirdford Chapel and the wider community of Kirdford and the surrounding neighbourhood.

Our regular pattern of services on Sunday mornings continued with the all-age Family Service led by our Community Pastor, James Clarke, on the fourth Sunday in each month, with congregations numbering mostly between 20 and 30. Special Sunday services were held for Harvest, Christmas, and Easter. A joint service was held at Rudgwick Chapel on Good Friday. Prayer meetings and Bible Studies were held on each Tuesday. Our quarterly Ladies Teas continued to be very well attended.

James organized some outings for the Good News Club during the summer term and a Holiday Club at the end of August. A special edition of John’s gospel for the Coronation was distributed to houses in Kirdford, Plaistow, Ifold and Wisborough Green.

The Good News Club for children at primary school continued to grow and some children who wished to attend had to be put on a waiting list. Good News Explorers for young people at secondary school has continued with a regular attendance of three boys.

During the half-term holidays, “drop-ins” for Good News children were organized together with an outing. Attendance has grown as parents have planned for these events. An occasional breakfast for the mothers of Good News children has been started and a Mother’s Day Tea was arranged.

We were pleased to host and join in the Advent and Lent Course held at the Chapel and arranged by St. John’s Church, Kirdford.

The weekly coffee morning for Kirdford, Ifold and Plaistow continues to meet at the Chapel.

5. Financial review

Total incoming resources for the period were £44,448 (2022/23: £43,369) of which 43,857 was unrestricted income (2022/23: £42,839). Total resources expended were £84,309 (2022/23: £57,813) all of which was unrestricted expenditure. A full review of the financial position of the charity can be found on the attached financial statements.

The wooden Chapel floor was replaced with a concrete one and planning permission was obtained for the erection of a Youth Hub. The Chapel chairs have been replaced with more suitable ones donated by a third party.

6. Reserves policy

As at the balance sheet date of 31 March 2024 the charity had free reserves (unrestricted funds) of £266,573 (2022/23 £307,024) and restricted reserves of £1,826 (2022/23 £1,235).

7. Risk Management

The trustees have a duty to identify and review the risks which the charity is exposed to and ensure appropriate controls are in place for reasonable assurance against fraud and error.

The trustees do not perceive any major risks to the charity currently.

5

TRUSTEE ANNUAL REPORT (Continued)

8. Public Benefit

Trustees have paid due regard to the Charity Commission Guidance on 'Public Benefit' in deciding what activities the charity undertakes. All activities undertaken by Charity Name are focussed on our charitable purposes.

9. Going Concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

6

TRUSTEE ANNUAL REPORT (Continued)

Responsibiities of Trustees

The Charities Act 2022 requires the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of its incoming resources and resources expended for the period. In preparing those financial statements, the Board of Trustees should follow best practice and are required to;

The Board of Trustees is responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2022. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities and to provide reasonable assurance that:-

The systems of internal control are designed to provide reasonable but not absolute assurance against material misstatement or loss.

Approved by the Trustees on….....................................

Signed on their behalf by Trustee …..............................

Printed Name:

7

KIRDFORD CHAPEL CIO (CHARITABLE INCORPORATED ORGANISATION) INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024

Report to the trustees/ members of Kirdford Chapel CIO on the accounts for the year ended 31st March 2024.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2022 and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner’s statement

My examination was carried out in accordance with general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity 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 the 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

  1. which gives me reasonable cause to believe that in, any material respect, the requirements:

  2. to keep accounting records in accordance with section 130 of the Charities Act; and

  3. to prepare accounts which accord with the accounting records and comply with the accounting 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

have not been met; or

  1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Donna Leppitt Independent Examiners Ltd Unit 2 The Broadridge Business Centre Delling Lane Bosham PO18 8NF Date:

8

KIRDFORD CHAPEL CIO (CHARITABLE INCORPORATED ORGANISATION) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024

Notes
INCOMING RESOURCES
Donations & Legacies
3a
Investment Income
3b
Other Income
3c
TOTAL INCOMING RESOURCES
PAYMENTS
Costs of Charitable Activities
4
NET INCOMING/(OUTGOING) RESOURCES
Balances Brought Forward
BALANCES CARRIED FORWARD
NET MOVEMENT IN FUNDS
RESOURCES EXPENDED
TRANSFERS BETWEEN FUNDS		 Unrestricted
Restricted
Total
Total
Funds
Funds
2023/24
2022/23
£
£
£
£
37,054
591
37,645
39,751
6,276
-
6,276
2,504
527
-
527
1,114
43,857
591
44,448
43,369
84,309
-
84,309
57,813
84,309
-
84,309
57,813
(40,452)
591
(39,861)
(14,444)
-
-
-
-
(40,452)
591
(39,861)
(14,444)
307,024
1,235
308,260
322,704
266,573
1,826
268,399
308,260

All of the Charity's operations are classed as continuing operations.

The notes form part of these financial statements, found on pages:11 to 17

9

KIRDFORD CHAPEL CIO (CHARITABLE INCORPORATED ORGANISATION) BALANCE SHEET AS AT 31 MARCH 2024

Assets
Notes
Tangible Assets
2
Current Assets
8
7
Total Current Assets
9
10
5
NET ASSETS
FUNDS OF THE CHARITY
General Funds
Restricted funds
TOTAL FUNDS
Debtors & Prepayments
Cash at bank and in hand
Creditors:amounts falling due
within one year
NET CURRENT ASSETS
TOTAL ASSETSless current liabilities
Creditors:amounts falling due in more
one year		 Unrestricted
Restricted
Total
Total
Fund
Fund
31-Mar-24
31-Mar-23
£
£
£
£
-
-
-
-
-
-
-
-
2,172
-
2,172
1,173
265,599
1,826
267,425
308,145
267,770
1,826
269,596
309,318
1,198
-
1,198
1,058
266,573
1,826
268,399
308,260
266,573
1,826
268,399
308,260
-
-
-
-
266,573
1,826
268,399
308,260
266,573
-
266,573
307,024
-
1,826
1,826
1,235
266,573
1,826
268,399
308,260

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

Approved by the Trustees on ….................................... Signed on their behalf by Trustee ….............................. Print Name: …..............................

10

KIRDFORD CHAPEL CIO (CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024

1. ACCOUNTING POLICIES

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year.

Basis of preparation:

TThe financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (Charities SORP - FRS 102) 2nd addition effective 1 January 2019 and with the Charities Act 2022.

The CIO meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.

Assessment of Going Concern

Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the CIO's ability to continue as a going concern.

Recognition of Incoming Resources

These are included in the Statement of Financial Activities (SOFA) when:

Incoming Resources with Related expenditure

Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resources and related expenditure are reported gross in the SOFA.

Grants and Donations

Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources.

Tax Reclaims on Donations and Gifts

Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.

Contractual Income and Performance Related Grants

This is only included in the SOFA once the related goods or services has been delivered.

Gifts in Kind

Gifts in kind are accounted for at a reasonable estimate of their value to the CIO or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the CIO. Gifts in kind for use by the CIO are included in the SOFA as income receivable.

Volunteer Help

The value of any voluntary help received is not included in the accounts and is described in the Report of the Trustees.

Donated Services and Facilities

These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the CIO is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the CIO of the service or facility received.

Investment Income

This is included in the accounts when receivable.

Investment Gains and Losses

This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.

This page does not form part of the statutory financial statements

11

KIRDFORD CHAPEL CIO (CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024

1. ACCOUNTING POLICIES (continued)

Expenditure and Liabilities

Liability Recognition

Liabilities are recognised as soon as there is a legal or constructive obligation committing the CIO to pay out resources.

Governance Costs

Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advice to trustees on governance or constitutional matters.

Grants with Performance Conditions

Where the CIO gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.

Grants Payable without Performance Conditions

These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the CIO.

Investments

Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.

Pensions

Pension contributions are charged to the Statement of Financial Activities as they become payable. Fund Accounting

Funds held by the charity are either:

1. Unrestricted funds

These are funds which can be used in accordance with the charity's objectives, at the discretion of the trustees.

2. Restricted funds

These are funds that can only be used for particular restricted purposes within the objects of the CIO.

3. Designated funds

These funds are funds set aside by the trustees out of unrestricted general funds for specific purposes or projects.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Fixed Assets

Fixed Assets are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt.

Depreciation Expense

Depreciation is calculated at a rate to write off the cost of tangible fixed assets over their estimated useful lives. The rates applied are as follows:

Furniture & Equipment 25%

There has been no change to the accounting polices (Variation rules and methods of accounting) since last year.

2. TANGIBLE FIXED ASSETS

The CIO held no fixed assets investments during this or the previous financial period. However the Chapel chairs have been replaced with more suitable ones donated by a third party in the current financial year. The 40 chairs given to Kirdford Chapel have an estimated value of £3-4,000.

This page does not form part of the statutory financial statements

12

KIRDFORD CHAPEL CIO (CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024

3. INCOMING RESOURCES

Note
c) Other Income
Other income
Donations-General
Donations-KIP
b) Investment Income
Investments (income)
Donations-Lunch
Gift Aid from HMRC
Rudgewick reimbursement
a) Donations & Legacies
Building fund income
Collections		 Unrestricted
Restricted
Total
Total
Funds
Funds
2023/24
2022/23
£
£
£
£
-
473
473
428
6,035
-
6,035
6,613
1,729
-
1,729
2,780
850
-
850
600
-
-
-
19
17,530
118
17,648
18,728
-
-
-
-
10,910
-
10,910
10,584
37,054
591
37,645
39,751
6,276
-
6,276
2,504
6,276
-
6,276
2,504
527
-
527
1,114
527
-
527
1,114

This page does not form part of the statutory financial statements

13

KIRDFORD CHAPEL CIO (CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024

4. RESOURCES EXPENDED

4. RESOURCES EXPENDED
Note
Governance costs:-
Independent Examiner Fee
Legal & Administration
Wages & Salaries
Employer's National Insurance Costs
Pension Contributions
Staff-Rent
Sundries
Youth Expense
Cost of Events
Gifts expense
Insurance & Licences
Legal & Administration
Lighting & Heating
Mission-Other
Repairs & Maintenance
Staff expenses
a) Charitable Activities
Annex costs		 Unrestricted
Restricted
Total
Total
Funds
Funds
2023/24
2022/23
£
£
£
£
2,325
-
2,325
-
1,288
-
1,288
1,262
100
-
100
543
1,367
-
1,367
1,178
-
-
-
7,444
6,928
-
6,928
5,808
995
-
995
1,200
24,487
-
24,487
3,002
813
-
813
793
18,000
-
18,000
13,000
3,932
-
3,932
3,460
88
-
88
913
17,112
-
17,112
15,801
2,213
-
2,213
1,772
1,101
-
1,101
826
690
-
690
810
1,922
-
1,922
-
84,309
-
84,309
57,813

This page does not form part of the statutory financial statements

14

KIRDFORD CHAPEL CIO (CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024

5. RESTRICTED FUNDS

CURRENT FINANCIAL YEAR

Building Fund Income
Building Fund Gift Aid		 Balance
Gains &
Balance
01-Apr-23
Income
Expenditure
(Losses)
Transfer
31-Mar-24
£
£
£
£
£
1,003
473
-
-
-
1,475
233
118
-
-
-
351
1,235
591
-
-
-
1,826

PREVIOUS FINANCIAL YEAR

Building Fund Income
Building Fund Gift Aid		 Balance
Gains &
Balance
01-Apr-22
Income
Expenditure
(Losses)
Transfer
31-Mar-23
£
£
£
£
£
564
439
-
-
-
1,003
141
92
-
-
-
233
705
530
-
-
-
1,235

The Restricted Funds are wholly represented by the CIO's cash reserves and are to be expended as specified above.

This page does not form part of the statutory financial statements

15

KIRDFORD CHAPEL CIO (CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024

6. INVESTMENTS

The CIO held no investment assets during this or the previous financial period.

7. CASH AT BANK AND IN HAND

7. CASH AT BANK AND IN HAND
Current A/c
Lloyds Deposit A/c
Charity Bank-Deposit A/c
No 2 Staff
Petty Cash		 Unrestricted
Restricted
Total
Total
Funds
Funds
31-Mar-24
31-Mar-23
£
£
£
£
3,189
1,826
5,015
8,262
50,052
-
50,052
91,322
210,578
-
210,578
205,031
1,679
-
1,679
3,530
100
-
100
-
265,599
1,826
267,425
308,145

8. DEBTORS AND PREPAYMENTS

Rudgwick Chapel-Pastor expenses
Rudgwick Chapel-Staff expenses
Gift Aid		 Unrestricted
Restricted
Total
Total
Funds
Funds
31-Mar-24
31-Mar-23
£
£
£
£
344
-
344
-
500
-
500
-
1,328
-
1,328
1,173
2,172
-
2,172
1,173

9. CREDITORS AND ACCRUALS AMOUNTS FALLING DUE WITHIN ONE YEAR

Creditor-Ovo
Independent Examiner's Fee
Deferred Income		 Unrestricted
Restricted
Total
Total
Funds
Funds
31-Mar-24
31-Mar-23
£
£
£
£
-
-
-
398
508
-
508
-
690
-
690
660
1,198
-
1,198
1,058

This page does not form part of the statutory financial statements

16

KIRDFORD CHAPEL CIO (CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024

10. CREDITORS AND ACCRUALS AMOUNTS FALLING DUE IN MORE THAN ONE YEAR

The CIO held no long term liabilities during this or the previous financial period.

11. STAFF COSTS AND NUMBERS

Gross Wages & Salaries
Employer's National Insurance Costs
Employer's Pension Contributions		 TOTAL
2023/24
£
19,312
1,448
413
21,173		 TOTAL
2022/23
£
18,333
1,448
344
20,125

Average number of employees who were engaged in each of the following activities:

Charitable Activities

TOTAL TOTAL
2023/24 2022/23
1 1

The CIO operates a PAYE scheme to pay all employed members of staff and no employees received emoluments in excess of £60,000. (2022/23- None)

12. TRUSTEES AND OTHER RELATED PARTIES

No payments were made to trustees or any persons connected with them during this financial period. No material transaction took place between the organisation and a trustee or any person connected with them. (2022/23- None)

13. RISK ASSESSMENT

The Trustees actively review the major risks which the CIO 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.

14. RESERVES POLICY

The Trustees have considered the level of reserves they wish to retain, appropriate to the CIO's needs. This is based on the CIO's size and the level of financial commitments held. The Trustees aim to ensure the CIO will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The trustees will endeavour not to set aside funds unnecessarily.

15. PUBLIC BENEFIT

The CIO acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the CIO 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 CIO should undertake.

This page does not form part of the statutory financial statements

17