Light Church (Stoke) Registered Charity No 1178620 known as Penkhull Christian Fellowship Trustees’ Report & Accounts for the period ended 31 December 2020 ## **Light Church (Stoke)** |**Registered Charity Number**|1178620| |---|---| |**Office Address**|2-10 Newcastle Lane| ||Penkhull| ||Stoke-on-Trent| ||ST4 5DR| |**Governing Document**|CIO – Foundation Model| ||Registered 4thJune 2018 (Constitution)| ||Amended 6thSeptember 2019| |**Trustees**|Daniel Chan*| ||David Hindry**| ||Christopher Mountford| ||Ivor Beeston***| ||Peter Lea| |**Secretary**|Eleri Holmes| |**Bankers**|Co-operative Bank| ||P.O. Box 250| ||Delf House| ||Southway| ||Skelmersdale| ||WN8 6WT| |**Independent Examiner**|John Farrar F.M.A.A.T, DChA.| ||211 Trent Valley Road| ||Stoke-on-Trent| ||ST4 5LF| _*Senior Minister, Chair & Paid Trustee ** Retired Mar 2021 *** Treasurer_ Penkhull Christian Fellowship Page **2** of **11** |Content|Page| |---|---| |Objectives of the charity|4| |Review of Activities|4| |Financial Report|5| |Receipts and Payments Accounts|6| |Statement of Assets and Liabilities|7| |Notes to Assets|7| |Reserves Policy|8| |Reserves Policy Management Action|8| |Independent Examiners Report|9| |Structure, Governance and Management|11| |Safeguarding Policy|11| |Trustees Responsibilities|11| Penkhull Christian Fellowship Page **3** of **11** ## **Objectives of the charity** The objects of the Church are for the benefit of the public: - (a) To advance the Christian faith in accordance with the statement in such ways and in such parts of the United Kingdom or the world as the Church Council may from time to time think fit; - (b) To relieve sickness and financial hardship and to promote and preserve good health by the provision of funds, goods 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 church council from time to time think fit; and - (c) To advance education in such ways and in such parts of the United Kingdom or the World as the church council from time to time may think fit. ## **Review of Activities** Light Church (Stoke) is the charity name for the church known as Penkhull Christian Fellowship. It is in the process of changing the church name from Penkhull Christian Fellowship to Light Church which has been delayed due to Covid 19. Due to the Covid pandemic and the lockdown restrictions the majority of our activities were closed down in March 2020 in line with government rules and guidelines. The following activities were allowed to remain open; **Foodbank** – in association with The Trussell Trust, PCF is a distribution centre for the Stokeon-Trent Foodbank. PCF also provides donations of foodstuffs provided by our members and congregation. Foodbank is a nationally recognised program that is run by award winning charity, The Trussell Trust. **Missions** - We continued to financially support our mission partnerships both at home and abroad during the pandemic. See Finance Report for Missions giving. **Worship & Prayer** – Our Sunday morning services were broadcast over the internet while no in-person services were allowed during 2020. This allowed for the congregation to join in corporate worship from home. Penkhull Christian Fellowship Page **4** of **11** ## **Finance Report 2020** ## **Summary** Due to the Covid19 pandemic we’ve been unable to take our usual weekly cash offerings or special missions/ministry offerings. Whilst many now give via online/telephone banking, there has been an obvious effect upon our finances. This is masked by the transfer of assets re incorporation of the charity which inflates income (See last year’s report for details of incorporation). However, God Is Good and provides for our needs so, despite the difficult circumstances, we were still able to show a surplus for 2020. Overall income for the year ending 31[st] December 2020 was £142,821. A decrease of £27,640 over the previous year (2019). £56,708 of this was transferred from the old charity. Overall expenditure for the same period was £81,375, therefore producing a true net surplus of £4,738. ## **Tithes & Offerings** General Tithes and Offerings for 2020 was £60,761, an increase of £12,861 over 2019. However 2019 only reflects 9 months and therefore shows a like for like decrease. ## **Gift Aid** The total Gift Aid received from HMRC this year is £9,235. This includes claims on £8,000 of anonymous small donations, worth £2,000 relating to 2019 cash offerings. There will be no claims on small donations relating to 2020 next year because cash collections have ceased during the lockdown. ## **Missions Giving** In 2020 we were able to give a total of £6,661 in support of missions and ministry, both at home and abroad. ## **Kingdom Bank** Saving with Kingdom Bank stand at £138,282. Penkhull Christian Fellowship Page **5** of **11** ## **Receipts and Payments Account** ## **Light Church (Stoke) known as Penkhull Christian Fellowship** |**INCOME**|**2020**| |---|---| ||**£**| |Tithes and Offerings|£60,761.65| |Departments Income|£5,346.45| |Other Income|£76,713.27| ||| |**TOTAL INCOME**|**£142,821.37**| ||| |**EXPENSES**|| |Departments|£1,560.85| |Employee Costs|£40,340.27| |Missions & Ministry|£6661.38| |Insurance|£3283.07| |Mini Bus|£4,223.48| |Office|£1,594.18| |Other Expenses|£5,335.80| |Repairs & Maintenance|£15,989.98| |Utilities|£2,386.91| ||| |**TOTAL EXPENSES**|**£81,375.92**| ||| ||| |**SURPLUS TOTAL**|**£61,445.45**| ||| Penkhull Christian Fellowship Page **6** of **11** ## **Statement of Assets and Liabilities** ## **Light Church (Stoke) known as Penkhull Christian Fellowship** |**Bank Accounts**|**£**| |---|---| |Current Account|£29,019.49| |Departments Holding
Account|£5,259.75| |BuildingFund|£1,123.11| |Savings|£35,222.33| |Reserve|£103,059.10| |**TOTAL Bank Accounts**|**£173,683.78**| ||| |**Cash Accounts**|| |**TOTAL Cash Accounts**|**£486.89**| ||| |**Asset Accounts**|| |**TOTAL Asset Accounts**|**£282,172.08**| ||| |**OVERALL TOTAL**|**£456,342.75**| ## **Notes to Assets** The charity owns three properties; **Policies** - ~~Th~~ e Church Building at Franklin Road, Penkhull, Stoke-on-Trent ST4 5DS - The Centre Building at 2-10 Newcastle Lane, Penkhull, Stoke-on-Trent ST4 5DR - House at Princes Road, Penkhull, Stoke-on-Trent ST4 7JS Other assets include a Mini bus, which is a 16 seater + driver mini bus with a value of c£1000 and other various equipment, fixtures and fittings. Penkhull Christian Fellowship Page **7** of **11** ## **Reserves Policy** As at 31[st] December 2020 the church had a Reserves Policy (Rev 2 - 28-07-2020) as defined by the Trustees. Light Church (Stoke) known as Penkhull Christian Fellowship Reserves Policy 1. The Trustees have reviewed the Fellowships needs for reserves in line with CC19 (Charities’ Reserves) issued by the Charity Commission. 2. Penkhull Christian Fellowship exists to promote the Christian Religion and its associated values in Penkhull, Stoke on Trent, England and beyond. The income to achieve this is variable yet some of the expenses are not (Pastors Salary, Mission Commitments, Office Costs, Insurance and Services). Reserves are required to ensure that these liabilities are met even when income is low. 3. To ensure the financial viability of the fund and its ability to meet its on-going commitments the charity will endeavour to maintain, on average, sufficient reserves to cover four months expenditure. 4. Management action will be required should the value of the fund exceed six times the monthly expenditure, or fall below one month’s expenditure. 5. The Trustees will continue to monitor actual income and expenditure against these - projections on an annual basis (AGM). 6. Funds held for projects (buildings, mission etc), or designated funds will not be counted in the overall reserves. ## **Reserves Policy Management Action** Reserves Balance £44,332 Q1 Is the Reserves Balance more than 4m expenditure? **YES** Expenditure 2020 £83,376 (4m £27,792) If YES go to question Q2, if No go to Q4 Q2 Is the Reserves Balance more than 6m expenditure? **YES** Expenditure 2020 £83,376 (6m £41,688) If YES go to Q3, if No then go to Q6. Q3 Give reasons below why reserves more than 6m expenditure, then go to Q6. The sum of £130,000 is allocated, although not designated towards a building project yet to be determined and therefore not included in Reserve balance as per point 6 above. Reserves balance still more than 6 months expenditure, however given reductions in income due to Covid 19 pandemic the trustees deem it prudent to hold higher reserves at this time. Q6 Is the Reserves Policy deemed fit for purpose. **YES** If YES then **No Action Required** as Reserves Policy Met. If No then review Reserves Policy. Penkhull Christian Fellowship Page **8** of **11** ## **Independent Examiner’s Report** Penkhull Christian Fellowship Page **9** of **11** Addrnm.. 211 Tr8rtVallBy Road. OaktMII. 8￿k&un-T{Bnt ST4 5LF SertlDrt 8 Oniy¢ompi¢t*itthg e￿ID￿rn88dst0fvI￿hhghI￿atsllal rnallBfs 1880 CC32. IndependeTrtWAarnin&tion of(*aAtyattounts dirg¢tlonsaid 4uiOBf* TOre￿a￿l￿r$1. GI￿ hwobrfef dèiall$ol any It•msthatth• ex4minErwi$￿$to dlsGIox•. IER Oct 2018 Penkhull Christian Fellowship Page 10 of 11 ## **Structure, Governance and Management** Light Church (Stoke) is a CIO registered charity (No. 1178620) and is instituted by the Constitution registered on 4th June 2018 and amended 6[th] September 2019. Its registered address is 2 – 10 Newcastle Lane, Penkhull, Stoke-on-Trent. ST4 5DR. The charity is known as Penkhull Christian Fellowship. Rules, Regulations and Objectives (RRO) document, Issue 1 February 2019. Copies of this document will be supplied to the Church Membership (as defined by Section 11 of the Constitution) and new members of the Church Membership. It is noted that the Constitution is the legal document and is superior to the RRO if there is any conflict. Light Church (Stoke) known as Penkhull Christian Fellowship is affiliated with the Assemblies of God Incorporated, a company limited by guarantee (No. 2873415) registered in England, having its registered office at The National Ministry Centre, Gf/Fl2 No 1-2 The Cottages, Deva Centre, Salford, Manchester M3 7BE, and is also a registered charity (No. 1032245). ## **Safeguarding Policy** Safeguarding Policy adopted on 6/4/2019 and last reviewed on 25/10/2021. ## **Trustees’ Responsibilities** Charity Law requires us as Trustees to prepare financial statements for each accounting year which record the receipts and payments of the charity for the year. We are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable us to ensure that the financial statements comply with the Charities Act 2011. We also have responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities. ## **Approval** This report was approved by the trustees on 25[th] October 2021 and signed on their behalf by: Mr Daniel Chan Chair of Trustees Light Church (Stoke) known as Penkhull Christian Fellowship Penkhull Christian Fellowship Page **11** of **11**