Charity Registration No. 1180302
FLOW CHURCH
TRUSTEES' REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2020
FLOW CHURCH
CONTENTS
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Trustees' report | 2 - 5 |
| Independent examiner's report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the accounts | 9-12 |
Flow Church
Legal and Administrative Information
Charity Number 1180302 Date of Registration 12th October 2018 End of Financial Year 31st December 2020
Trustees
The following Trustees served during the year:
Jacob Benham Paul Emberton Sarah Harvey James McKean Steven Parker
Governing Document
Constitution of a Charitable Incorporated Organisation Dated 8th October 2018
Charitable Objects:
The objective of the CIO is, for the public benefit, the advancement of the Christian faith in Surrey and such other parts of the United Kingdom and the world as the Charity Trustees may from time to time decide.
Principle Address & Registered Office Unit 4, Fordwater Trading Estate Ford Road Chertsey KT16 8HE Bankers Barclays Bank UK Plc Independent Examiner Michael Homer AFA MIPA MCH Accountants Ltd 68 Charlton Road Andover Hampshire SP10 3JN
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Flow Church
Independent Examiner's Report
I report to the charity trustees on my examination of the accounts of the Charitable Incorporated Organisation for the year ended 31 December 2020
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011('the Act'). The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
In connection with my examination, no matter has come to my attention which gives me reasonable cause to believe that in any material respect:
-
the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts did not comply with the applicable 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.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mr Michael Homer AFA MIPA
Independent Examiner for and on behalf of MCH Accountants Ltd 68 Charlton Road Andover Hampshire SP10 3JN
Dated:
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Flow Church
Statement of Financial Activities for the year ended 31st December 2020 (Including income and expenditure account)
| Notes Income from: Donations and gifts 5a Charitable Activities 5b Total Income Expenditure on: Charitable Activities 6 Total Expenditure Net incoming/(outgoing) resources for the year Total Funds brought forward at 1 January 2020 Total Funds carried forward at 31 Dec 2020 |
£ 106,215 97 106,312 100,413 100,413 5,899 13,336 19,235 Unrestricted Funds |
£ - 1,000 1,000 1,000 - 3,049 2,049 Restricted Funds |
Total 2020 £ 106,215 97 106,312 101,413 101,413 4,899 16,385 21,284 |
Total 2019 £ 136,530 6,020 142,550 126,165 126,165 16,385 - 16,385 |
|---|---|---|---|---|
All the church's operations are classed as continuing.
There are no recognised gains or losses other than those reported on the Statement of Financial Activities.
The notes on pages 7 to 12 form part of these financial statements.
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Flow Church Charity Registration No. 1180302
Balance Sheet as at 31st December 2020
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Notes 2020 2019
£ £
Non Current Assets
Tangible Fixed Assets 3 3,330 -
Other Assets 4 8,735
-
12,065
Current Assets:
Debtors and Prepayments 8 9,877 5,265
Cash at bank and in hand 600 12,678
Total Current Assets 10,478 17,943
Current Liabilities:
Creditors: amounts falling due within
one year 9 - 1,258 - 1,558
Net Current Assets 9,220 16,385
Total Net Assets 21,284 16,385
Income Funds
General Fund 19,235 13,336
Restricted Funds 7 2,049 3,049
Total Funds 12 21,284 16,385
Approved by the Trustees on the 19.10.2021
Signed on their behalf by
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Trustee
James McKean (Head of Trustees)
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Flow Church
Notes to the Financial Statements for the year ended 31st December 2020
1. Accounting Policies
Basis of Preparation
The financial statements have been prepared in accordance with 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 (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Flow Church meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes
The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.
Income
Income is recorded on the Statement of Financial Activities (SOFA) when it becomes probable the charity will receive the income, the charity becomes entitled to the income and the amount of income due to be received can be measured reliably.
Expenditure
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs relating to that category. They include irrecoverable VAT. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of the resources. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the Charity to discharge them.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates to write off the cost less estimated residual value of each asset over its expected useful life as follows:
All Equipment 25% straight Line
Assets costing less than £1000 are expended within the SOFA.
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments. The Trustees seek to use short and medium term deposits where possible to maximise the return on monies held at the bank and to manage cash flow.
Pensions
The charity offers a defined contribution pension to all eligible staff and, at the Trustees' discretion, to other paid staff. At the year end there were contributions of £308 outstanding.
Funds
General funds are unrestricted funds which are available for use at the discretion of the directors in furtherance of the general objectives of the charity and which have not been designated for any other purpose.
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 cost 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.
2. Cash Flow
Under section 7 of FRS102 in relation to the Cash Flow statement, exemption has been claimed on the basis that Flow Church is a small charity.
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Flow Church
Notes to the Financial Statements for the year ended 31st December 2020 (continued)
3. Tangible Fixed Assets
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3. Tangible Fixed Assets Equipment
£
Cost 1st January 2020 -
Additions 3,630
Cost at 31st December 2020 3,630
-
Depreciation 1st January 2020
Charge for year 300
Depreciation at 31st December 2020 300
Net book value 31st December 2020 3,330
Net book value 31st December 2019 -
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4. Other Assets
A security deposit of £8734.81 is being held by the Landlord under a 5 year rental lease agreement
| 5. Income a) Voluntary Income Gift Aided Donations Gift Aid tax refund Other Donations b) Charitable Activities Mission Trip Activities and Events Total Income |
Unrestricted Funds £ 66,409 16,602 23,204 106,215 - 97 97 106,312 |
Restricted Funds £ - - - - - - - - |
Total 2020 £ 66,409 16,602 23,204 106,215 - 97 97 106,312 |
Total 2019 £ 51,785 12,946 71,799 136,530 5,230 790 6,020 142,550 |
|---|---|---|---|---|
Of the £142,550 total income for the year to 31 December 2019, £125,560 was unrestricted and £16,990 was restricted
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Flow Church
Notes to the Financial Statements for the year ended 31st December 2020 (continued)
| 6. Expenditure Unrestricted Funds Charitable Activities: £ Misssion & Events 3,237 Youth and Children 4 Sunday Meetings 3,749 Rent 12,885 Office & Administration 25,384 Salaries 54,204 Accountant Fees 950 Total Expenditure: 100,413 Support Costs included in the above consist of: Salaries 50,504 Office and Administration 25,384 Governance Costs 950 Total 76,839 |
Restricted Funds £ 1,000 - - - - - - 1,000 - - - - |
Total 2020 £ 4,237 4 3,749 12,885 25,384 54,204 950 101,413 50,504 25,384 950 76,839 |
Total 2019 £ 18,755 827 3,945 34,610 7,077 59,701 1,250 126,165 59,701 7,077 1,250 68,028 |
|---|---|---|---|
Governance costs in 2019 and 2020 consist entirely of fees due to the independent examiner in respect of examination services.
| 7. Restricted Funds Mission Trip Total |
Balance at 31 Dec 2019 £ 3,049 3,049 |
Income £ - - |
Expenditure £ 1,000 1,000 |
Balance at 31 Dec 2020 £ 2,049 2,049 |
|---|---|---|---|---|
The Restricted Funds are wholly represented by the charity's cash reserves.
Restricted Funds are held for the following purposes:
Mission Trip This fund is held for mission trips to provide support to churches, and refugee aid to other nations
| 8. Debtors and Prepayments Gift Aid Recoverable Prepaid Rent and Insurance in Advance Total 9. Creditors and Accruals: amounts due within one year Independent Examiner's Fees Pensions payable Total |
2020 £ 3,281 6,596 9,877 2020 £ 950 308 1,258 |
2019 £ 4,514 751 5,265 2019 £ 1,250 308 1,558 |
|---|---|---|
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Flow Church
Notes to the Financial Statements for the year ended 31st December 2020 (continued)
10. Staff Costs
The Charity employed two members of staff (2019: two) during the year. The costs were:
| Gross Salaries & Employers NIC Employers Pension Contributions Total |
2020 £ 50,504 3,700 54,204 |
2019 £ 56,463 3,238 59,701 |
|---|---|---|
There are no employees with emoluments over £60,000
11. Trustees and related parties
During the financial period, in furthering the charity's objectives, Mr L Parker and Mrs E Parker (Son and daughter in law of Mr Stephen Parker, Chair of trustees) were employed by the charity in accordance with the CIO Constitution. Details of salaries and pensions are included in note 10.
12. Net Assets between Funds
| Fund balances at 31 December 2020 are represented by: Non Current Assets Current Assets Current Liabilities Total Fund balances at 31 December 2019 are represented by: Fixed Assets Current Assets Current Liabilities Total |
Unrestricted funds £ 12,065 8,428 1,258 - 19,235 Unrestricted funds £ - 15,984 2,648 - 13,336 |
Restricted funds £ - 2,049 - 2,049 Restricted funds £ - 3,049 - 3,049 |
Total 2020 £ 12,065 10,477 1,258 - 21,284 Total 2019 £ - 19,033 2,648 - 16,385 |
|---|---|---|---|
13. Operating Leases
Flow Church entered into a 5 year lease agreement starting 1st September 2020 for a light Industrial Unit at Chertsey Industrial Park with a break clause on the 1st September 2023
Rent of £4218.58 has been charged to the Income and Expenditure in the current financial year.
Rental Payments due under the lease in future periods:within 1 year £26,502.15 2 years to the 1st September 2023 £58,583.70
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