Registered Charity Number: 1179377
NENE RIVER CHURCH
FINANCIAL STATEMENTS AND REPORT
FOR FINANCIAL YEAR ENDING
31[st] MARCH 2023
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NENE RIVER CHURCH
FINANCIAL STATEMENTS AND ANNUAL REPORT FOR THE YEAR ENDING 31[st] MARCH 2023
| INDEX | Page |
|---|---|
| Legal and Administrative Information | 3 |
| Trustees Report | 4-10 |
| Statement of Financial Activities | 11 |
| Statement of Financial Position | 12 |
| Principal Accounting Policies | 13-14 |
| Notes to the Accounts | 15-18 |
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NENE RIVER CHURCH
FINANCIAL STATEMENTS AND ANNUAL REPORT FOR THE YEAR ENDING 31st March 2023
Legal & Administrative Information
Registered CIO Number: 1179377
Address: c/o 51 Finedon Road Irthlingborough Wellingborough Northamptonshire NN9 5TY
Trustees: Rhoderick David Dingwall David Persaud Robert Alexander Beckley Daniel Joel Collict
Bankers: Charities Aid Foundation (CAF) Bank Ltd 25 Kings Hill Avenue King’s Hill West Malling Kent ME19 4JQ
NENE RIVER CHURCH
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FINANCIAL STATEMENTS AND ANNUAL REPORT FOR THE YEAR ENDING 31[st] MARCH 2023
Structure, Governance & Management
The charity is controlled by its governing Constitution dated 17[th] May 2018 and subsequently amended in 2020 and 2021. The charity is a Charitable Incorporated Organisation whose only Members are its Trustees. The CIO was formed on 30[th] July 2018.
The Constitution was revised in 2021 to require the Trustees to resign and (optionally) seek re-election at the end of the year and every three years thereafter, commencing in (at the end of) 2023.
The Objectives & Aims of the CIO are for the public benefit and are:
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the advancement of the Christian faith and the demonstration of the love of God in such ways as the Charity Trustees may from time to time decide;
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the relief of persons who are in need by reason of financial hardship, unemployment, ill-health, disability and/or poor educational or skills attainment;
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the advancement of education, in particular (but not limited to), the provision of training and teaching at schools and other places of learning;
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the conservation of the natural environment wherever the Trustees see fit. Conservation means providing support for a series of measures required to maintain or restore the natural habitats and the populations of species of wild fauna and flora both within the United Kingdom and elsewhere.
NENE RIVER CHURCH
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FINANCIAL STATEMENTS AND ANNUAL REPORT FOR THE YEAR ENDING 31[st] MARCH 2023
The Trustees believe that these objectives and aims were advanced during the year, although (in common with many charities) some of the activities of the CIO continued to be impacted by the Coronavirus pandemic.
The Trustees were only able to meet twice during the year due to illness. Otherwise, there were no other reportable incidents during the period.
Public Benefit Statement
All of the church activities are open to any member of the public and none are exclusively for church members. They are all free of charge although a few of the Youth Activities are by voluntary subscription. Of particular public benefit are the friendship and youth groups and the initiatives to alleviate poverty and hardship, advance education and to support nature conservation, both at home and overseas.
Potential Conflict of Interest
A potential conflict of interest arises from the (unconnected) Trustees decision to support MAF ( Mission Aviation Fellowship ) because Rhoderick Dingwall is the NRC CIO Chairman of Trustees and his younger son, Timothy Dingwall, has volunteered to train as an aircraft maintenance engineer with a view to maintaining the light aircraft operated by MAF. This has been resolved by an agreement whereby Rhoderick Dingwall absents himself from any discussions involving MAF and takes no part in any decisions made by the CIO with regards to the partnership with MAF.
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NENE RIVER CHURCH
FINANCIAL STATEMENTS AND ANNUAL REPORT FOR THE YEAR ENDING 31[st] MARCH 2023
Financial Review
Nene River Church CIO received £23,131 from a small number of individual UK based donors and total income was £23,713 which was just over 5% less than the previous year. Projects were budgeted and a number of one-off disbursements were made during the year.
Operating costs rose by 3% year on year to £9,384 and in November 2022 the decision was taken not to renew the lease on the rooms in The Old Chapel Business Centre, High Street, Irthlingborough. An agreement was reached with The Irthlingborough Old People’s Welfare Association in College Street to hire their building for Sunday meetings.
The church has a policy of not having offerings at meetings or events which are open to the general public. It does not trade or raise funds. All payments to overseas beneficiaries are made in pounds sterling to UK based charities or representatives with well-established overseas connections.
The change from renting to hiring premises meant that the CIO no longer required its fixed reserve of £10,000 and this, together with the £14,364 surplus for the year meant that gifts totalling £18,240 were made in accordance with the aims of the charity.
Reserves Policy
The CIO maintains a rolling reserve which is calculated each year (£2,873 in 2022-2023). Details of this can be found in the Reserves section under Principal Accounting Policies .
NENE RIVER CHURCH
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FINANCIAL STATEMENTS AND ANNUAL REPORT FOR THE YEAR ENDING 31[st] MARCH 2023
Achievements and Performance
During the period covered by this report, the following activities and actions were undertaken:
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Church services and groups for friendship and prayer continued throughout the year, although church services were held in the garden of a volunteer during August 2022.
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The Focus Youth Group and the group of older teenagers known as The Chatroom also continued to meet in term time and seventeen teenagers attended the Summer Youth Weekend in July 2022.
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The trained nurse that the church supports was able to spend most of the year in India and joined a small team of (mainly) medical personnel. The charity spent £1,680 on subsistence for her and an additional £840 was sent to her UK based support team.
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The partnership with the local library was suspended due to the aftermath of the pandemic.
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The partnership with Hope for Families (HFF), a Corby based charity supporting families and delivering courses on Anger Management and Internet Safety continued. This charity visits schools and encourages parents in Northamptonshire. Three NRC volunteers also assisted HFF; two as Course Facilitators and one as a Trustee.
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£2,520 was spent conservation to support an international nature conservation project in the Portuguese Algarve. Money was also set aside for a local nature conservation project within the Nene Valley.
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NENE RIVER CHURCH
FINANCIAL STATEMENTS AND ANNUAL REPORT FOR THE YEAR ENDING 31[st] MARCH 2023
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A number of disbursements totalling £9,847 were made for victims of poverty and hardship during the year: £2,000 was given to an orphanage in Thailand for children with AIDS and other disabilities and £4,600 was given for Ukrainian refugees, of which £2,600 was specifically to purchase wood burning stoves after the energy infrastructure in Ukraine was partially disabled (due to the war, during the winter months). Another £1,000 was sent for victims of an earthquake in Turkey and £1,500 was given to a local family whose son had been taken ill on a family holiday in Turkey and who had incurred uninsured expenses. A further £747 was given to victims of floods which partially destroyed the harvest in Malawi.
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£253 was spent on bibles for church pastors in Malawi.
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£200 was given to Mission Aviation Fellowship (MAF) to support a volunteer who is expected to train to eventually become a light aircraft maintenance engineer. See also Potential Conflict of Interest on page 5 for further information.
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The free Christmas Day breakfast, available to anyone who wishes to attend (the College Street centre in Irthlingborough on Christmas morning), has become more popular and established as an annual event.
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The church handed back leased premises on 27[th] February 2023 in good condition and the landlord returned the £1,500 rental deposit three weeks later.
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NENE RIVER CHURCH
FINANCIAL STATEMENTS AND ANNUAL REPORT FOR THE YEAR ENDING 31[st] MARCH 2023
Future Plans
Despite progress in several projects, several continue to have been disrupted by the effects of the Covid-19 pandemic. Future plans include the following:
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The project with the local library was badly affected by the pandemic and it is anticipated that this partnership will be resumed next year.
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The new partnership with the Hope for Families charity is clearly very beneficial to local families and has been funded by the reduction in reserves. Going forward, this project will be funded using the Rolling Reserve from the previous year.
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A new partnership is to be developed with Mission Aviation Fellowship (MAF) to train a volunteer to maintain light aircraft used to provide humanitarian assistance all over the world. This may mean that some other spending may have to be curtailed. See also Potential Conflict of Interest on page 5 for further information.
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It is hoped that a group can be set up on a regular basis for younger children than those of senior school age who attend the Focus Group .
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The fourth Trustee has been appointed and it is hoped that the Trustees will meet more regularly during the coming year. All four trustees will be subject to a re-election process due at the end of 2023. Trustee training and a full review of operational standards and procedures are required next year.
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NENE RIVER CHURCH FINANCIAL STATEMENTS AND ANNUAL REPORT FOR THE YEAR ENDING 31[st] MARCH 2023
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The budget for local conservation was not spent during the year (there are separate budgets for local and international conservation). It is anticipated that sponsorship of the local Wildlife Trust will resume next year.
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Next year it is proposed to give all the people who attend the free Christmas breakfast some small gifts to demonstrate God’s love.
This report was reviewed by the Trustees of Nene River Church CIO during January 2024 and has been signed on their behalf by:
Rhoderick Dingwall (Chairman of Trustees, Nene River Church CIO)
NENE RIVER CHURCH
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FINANCIAL STATEMENTS AND ANNUAL REPORT
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING 31st March 2023
| Description Notes Income Donations Youth Collection Youth Group Receipts Interest Expenditure Raising Funds 1 Charitable Activities 2,3 Governance Total Expenditure Net Movement in Funds Total Funds Brought Forward Total Funds Carried Forward |
Unrestricted Restricted TotalUnrestricted Restricted 2023 2023 2023 2022 2022 £ £ £ £ £ 22,931 200 23,131 24,993 0 0 175 175 0 0 0 230 230 0 0 210 0 210 6 0 |
|---|---|
| 23,141 572 23,746 24,999 0 |
|
| 0 0 0 0 0 27,017 605 27,622 24,621 0 0 0 0 20 0 |
|
| 27,017 605 27,622 24,641 0 |
|
| (3,875) (33) (3,908) 358 0 37,317 127 37,444 36,959 127 |
|
| 33,442 94 33,536 37,317 127 |
All income and expenditure derive from continuing activities.
The statement of financial activities is incorporating the income and expenditure accounts and includes all gains and losses recognised during the year.
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NENE RIVER CHURCH
FINANCIAL STATEMENTS AND ANNUAL REPORT
STATEMENT OF FINANCIAL POSITION AS AT 31st March 2023
| Notes Assets Fixed Assets 4 Debtors 5 CAF Bank Accounts Cash In Hand Stewardship Account Youth Cash Float Total Assets Liabilities Sundry Creditors 6 Total Liabilities Net Assets Notes Funds Value of Equipment Designated 7 Unrestricted 7 Restricted 8 Total Funds |
Unrestricted Restricted Total Total 2023 2023 2023 2022 £ £ £ £ 42 0 42 56 0 0 0 1,500 33,125 94 33,219 36,133 0 0 0 33 370 0 370 455 2 0 2 68 |
|---|---|
| 33,539 94 33,633 38,245 |
|
| £ £ £ £ (97) 0 (97) (801) |
|
| (97) 0 (97) (801) |
|
| 33,442 94 33,536 37,444 |
|
| Unrestricted Restricted Total Total 2023 2023 2023 2022 £ £ £ £ 42 0 42 56 2,873 0 2,873 11,500 30,527 0 30,527 25,761 0 94 94 127 |
|
| 33,442 94 33,536 37,444 |
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NENE RIVER CHURCH
FINANCIAL STATEMENTS AND ANNUAL REPORT
PRINCIPAL ACCOUNTING POLICIES FOR THE YEAR ENDING 31st March 2023
The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice (SORP) 102 , Accounting and Reporting by Charities issued in January 2015, applicable UK Accounting Standards and The Charities Act 2011 . The principal accounting policies of the charity are set out below:
Control: The CIO is under the ultimate control of its Trustees whose names appear at the beginning of this report.
Council Tax: The CIO does not pay Council Tax, since it no longer leases premises.
Fixed Assets: The value of equipment is written off over five years using the method known as Straight Line Depreciation .
Funds:
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Value of Equipment is at cost less depreciation.
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Unrestricted Funds are general 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.
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Designated Funds are funds set aside by the Trustees out of Unrestricted Funds for specific purposes or projects.
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Restricted Funds are funds which are to be used in accordance with specific restrictions imposed by the donors or which have been raised by the charity for particular purposes.
Incoming Resources: Income is brought into the accounts on a receivable basis.
Investment Income: Interest is brought into the accounts on a receivable basis.
NENE RIVER CHURCH
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PRINCIPAL ACCOUNTING POLICIES FOR THE YEAR ENDING 31st March 2023
Gifts in kind, donated facilities and services including voluntary help: These are not included in this financial statement, since they are not considered practical to quantify.
Resources Expended: Expenditure is stated inclusive of VAT and brought into the accounts in the year in which it is due.
Reserves: The CIO spending rules mean that disbursements can only be made from surplus revenue received during the previous financial year, and that 20% of this surplus must be held for one year as an additional Rolling Reserve. This excludes Restricted Funds and was £2,873 as at 31[st] March 2023. These are now shown in the accounts as Designated Funds .
The current reserve policy is to maintain a sufficient cash reserve to cover six months of running costs. Under the operation of the current Rental Agreement, payments of £585 are made quarterly in advance. This means that six months running costs are no more than £1,500 which is completely covered by the Rolling Reserve . The CIO is not required to give any notice of the intention to terminate the Rental Agreement.
Risks: The Trustees do not believe the organisation is subject to any substantial risks not disclosed in the Annual Report and Accounts.
The CIO renewed its insurance in September 2022 to protect it against risks arising from the resumption of public events.
Value Added Tax: The CIO is not registered for VAT.
NENE RIVER CHURCH NOTES TO THE ACCOUNTS
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| Note 1 Expenditure - Charitable Activities Rent Service Charge Bank Charges Food & Drink Youth & Children’s Work Stationery Visitors Expenses Electricity Gas Insurance Miscellaneous Expenses Travel & Subsistence Memberships & Licenses 2 Expenditure – Disbursements Gifts for Education & Training Gifts for Irthlingborough Library Gifts to Alleviate Poverty & Hardship Gifts for Persecuted Christians Gifts to Promote Christianity Gifts to Demonstrate God’s Love Gifts for Nature Conservation 3 Expenditure – Governance Professional Services |
Unrestricted Restricted Total 2023 2023 2023 £ £ £ 7030 0 7,030 900 0 900 74 0 74 19 0 19 302 230 532 0 0 0 20 0 20 258 0 258 103 0 103 191 0 191 114 0 114 40 0 40 87 0 87 |
Total 2022 £ 6,000 1,200 100 43 228 77 200 203 401 206 152 0 261 |
|---|---|---|
| 9,138 230 9,368 |
9,071 | |
| £ £ £ 2,900 200 3,100 0 0 0 9,672 175 9,847 0 0 0 2,773 0 2,773 0 0 0 2,520 0 2,520 |
£ 2,400 610 1,433 6,100 2,450 93 2,450 |
|
| 17,865 375 18,240 |
15,536 | |
| £ £ £ 0 0 0 |
£ 20 |
|
| 0 0 0 |
20 |
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NENE RIVER CHURCH NOTES TO THE ACCOUNTS
| Note Unrestricted Restricted Total 2023 2023 2023 4 Asset Depreciation £ £ £ 14 0 14 Total Expenditure 27,017 605 27,622 Governance – Personnel 2023 Trustees 4 Employees 0 Volunteers 12 Governance – Remuneration & Expenses £ Employment Costs 0 Trustees Remuneration 0 Trustees Reimbursed Expenses (See Note 9) 889 Unrestricted Restricted Total 2023 2023 2023 5 Debtors £ £ £ Pre-Paid Debtors 0 0 0 Rental Deposit 0 0 0 0 0 0 Unrestricted Restricted Total 2023 2023 2023 6 Creditors £ £ £ Licence Fee 0 0 0 Library Sponsored Event 0 0 0 Trustees Expenses Due (96) 0 (96) (96) 0 **(96) ** |
Unrestricted Restricted Total 2023 2023 2023 £ £ £ 14 0 14 |
Total 2022 £ 14 |
|---|---|---|
| 27,017 605 27,622 |
24,641 | |
| 2022 3 0 12 £ 0 0 1,016 Total 2022 £ 0 1,500 1,500 Total 2022 £ (83) (210) (508) (801) |
||
| 0 0 0 |
||
| Unrestricted Restricted Total 2023 2023 2023 £ £ £ 0 0 0 0 0 0 (96) 0 (96) |
||
| (96) 0 **(96) ** |
NENE RIVER CHURCH NOTES TO THE ACCOUNTS
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| Note 7 Unrestricted Funds General Fund Reserves Rental Deposit Comparative Unrestricted Funds General Fund Reserves Rental Deposit 8 Restricted Funds Gift for Persecuted Christians Gifts to Alleviate Hardship Youth & Children’s Work Gifts For Education & Training Council Grant Re Youth Comparative Restricted Funds Gift for Persecuted Christians Gifts to Alleviate Hardship Council Grant Re Youth |
Opening Balance 01-Apr-22 Movement In Movement Out Transfer Between Funds Closing Balance 31-Mar-23 £ £ £ £ £ 25,817 23,142 (27,017) 8,627 30,569 10,000 0 0 (7,127) 2,873 1,500 0 0 (1,500) 0 |
|---|---|
| 37,317 23,142(27,017) 0 33,442 |
|
| Opening Balance 01-Apr-21 Movement In Movement Out Transfer Between Funds Closing Balance 31-Mar-22 £ £ £ £ £ 20,459 24,999 (24,641) 5,000 25,817 15,000 0 0 (5,000) 10,000 1,500 0 0 0 1,500 |
|
| 36,959 24,999(24,641) 0 37,317 |
|
| Opening Balance 01-Apr-22 Movement In Movement Out Transfer Between Funds Closing Balance 31-Mar-23 £ £ £ £ £ 33 142 0 (175) 0 0 0 (175) 175 0 0 230 (230) 0 0 0 200 (200) 0 0 94 0 0 0 94 |
|
| 127 572 (605) 0 94 |
|
| Opening Balance 01-Apr-21 Movement In Movement Out Transfer Between Funds Closing Balance 31-Mar-22 £ £ £ £ £ 33 0 0 0 33 0 0 0 0 0 94 0 0 0 94 |
|
| 127 0 0 0 127 |
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NENE RIVER CHURCH
NOTES TO THE ACCOUNTS
Note Detailed List of Trustees Expenses For Reimbursement 2022-2023
| 9 Date Description of Expense for Reimbursement 12-Apr-2022 Eggs for Easter Egg Hunt 08-May-2022 Cash for Visiting Speaker Expenses 16-Jun-2022 Father’s Day Presents 2022 (1 of 2) 19-Jun-2022 Father’s Day Presents 2022 (2 of 2) 07-Jul-2022 Tesco Food for Youth Weekend (1 of 2) 08-Jul-2022 Tesco Food for Youth Weekend (2 of 2) 09-Jul-2022 Splash Pool Rushden Youth Weekend Admission Fee 09-Jul-2022 Kings Park Northampton Youth Weekend Refreshments 09-Jul-2022 Kings Park Northampton Youth Weekend Admission Fee 09-Jul-2022 McDonalds Wellingborough Youth Weekend Evening Meal 10-Jul-2022 Thankyou Presents for Youth Weekend Volunteers 20-Sep-2022 Renewal of CIO Insurance 31-Oct-2022 Supplies for Children’s Event 01-Nov-2022 Cash for Youth Cash Float 16-Dec-2022 Christmas 2022 Carol Service Food 15-Feb-2023 Paints for leased premises 26-Feb-2023 Removal Expenses (Chairs for Malawi) 28-Feb-2023 Mother’s Day Presents (1 of 2) 12-Mar-2023 Mother’s Day Presents (2 of 2) & Communion Expenses 27-Mar-2023 Mini Eggs for Easter Egg Hunt Total |
Amount Trustee £22.00 Rhoderick Dingwall~ £20.00 Rhoderick Dingwall £16.92 Rhoderick Dingwall £8.00 Rhoderick Dingwall £141.70 Rhoderick Dingwall £21.25 Rhoderick Dingwall £36.00 Rhoderick Dingwall £2.80 Rhoderick Dingwall £56.00 Rhoderick Dingwall £82.54 Rhoderick Dingwall £33.40 Rhoderick Dingwall~ £190.70 Rhoderick Dingwall £9.40 David Persaud+ £100.00 Rhoderick Dingwall £14.47 Rhoderick Dingwall £45.50 Rhoderick Dingwall £40.00 Rhoderick Dingwall £11.55 Rhoderick Dingwall~ £31.74 Rhoderick Dingwall £4.80 Rhoderick Dingwall £888.77 |
|---|---|
- Purchase made by Jane Dingwall, wife of Rhoderick Dingwall
~ Purchase made by Elizabeth Hotchin and reimbursed to her by Rhoderick Dingwall +Purchase made by Hannah Persaud, wife of David Persaud
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