REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 FOR STREATHAM CENTRAL CHURCH
STREATHAM CENTRAL CHURCH. Registered Charity Number: 1181886
1
## Report of the Trustees
The trustees present their report with the financial statements of the charity for the year ended 31 August 2023.
## Objectives & Activities
## Aims
The objectives of the charity are the advancement of the Christian faith in accordance with the basis of faith, primarily but not exclusively within Streatham and the surrounding neighbourhood; and such other charitable purposes as shall, in the opinion of the charity trustees, put into practice the Christian faith in accordance with the basis of faith.
## Significant Activities
Streatham Central Church was established to provide a church for the local community in Streatham and is is continuing as such. It has seen steady growth and progress in teaching, community work and gospel outreach.
## Public Benefit
When planning our activities for the year, the trustees have considered the guidance of the Charity Commission in relation to providing public benefit and, in particular, the supplementary guidance on charities for the advancement of religion.
## Structure, Governance & Management
The charity is constituted as a Charitable Incorporated Organisation, governed by the constitution adopted by its members on 6th February 2019 and approved by the Charity Commission on the same date. The charity is governed by its trustees who are appointed for a term of three years and, apart from the initial trustees,are elected by a vote of the existing trustees.
A copy of our constitution is available on request.
## Our principal address
45 Pendennis Road, Streatham, London. SW16 2SR
## Our Trustees
P E Duckworth - Chair
Rev A C Lyell M L Simpson (appointed 8/2/23) M D Watt C Osborne (resigned 29/1/23)
STREATHAM CENTRAL CHURCH. Registered Charity Number: 1181886
2
## **Independent Examiner’s Report to the Trustees of Streatham Central Church**
I report on my examination of the accounts for the year ended 31 August 2023 which are set out on pages 4 to 11.
## **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”).
I report in respect of my examination of the Church’s accounts carried out under section 145 of the 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**
I have completed my examination. I confirm that no material matters have come to my attention, other than that disclosed below, in connection with the examination which gives me cause to believe that in, any material respect:
- the accounting records were not kept in accordance with section 130 of the Charities Act; or
- the accounts did not accord with the accounting 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.
The matter that has come to my attention is that, in the course of my examination of the accounting records of the charity, there had been errors in the bookkeeping, this year and in previous years, which had not been corrected. Assets and liabilities were also omitted from previous years' accounts. These have now been corrected as far as is practically possible and the trustees have now been made aware of the correct way of recording transactions going forward.
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.
Signed: JVL Carr
Lesley J V Carr, FCCA 32 Wychwood Avenue Thornton Heath, CR7 8AQ 29 June 2024
## Streatham Central Church Statement of Financial Activities For the year ended 31 August 2023
|Note
INCOME AND ENDOWMENTS
Voluntary income
2(a)
Income from church activities
2(b)
TOTAL INCOME AND ENDOWMENTS
EXPENDITURE
Church activities
3(a)
Other expenditure
3(b)
TOTAL EXPENDITURE
NET INCOME / (EXPENDITURE)
Unrealised gain on Investments
SURPLUS / (DEFICIT) FOR THE YEAR
BALANCES BROUGHT FORWARD AT 1 Sept 2022
PRIOR YEAR ADJUSTMENTS
BALANCES CARRIED FORWARD AT 31 Aug 2023|UnrestricteRestricted TOTAL
TOTAL
Funds
Funds
FUNDS
FUNDS
2023
2022
£
£
£
£
151,632
17,194
168,826
136,691
0
0
0
2,600
**151,632**
**17,194**
**168,826**
**139,291**
107,734
7,350
115,084
94,060
10,279
1,328
11,607
41,515
**118,013**
**8,678**
**126,691**
**135,575**
33,619
8,516
42,135
3,716
0
0
0
0
33,619
8,516
42,135
3,716
91,256
0
91,256
87,540
156002
0
156,002
0
**280,877**
**8,516**
**289,393**
**91,256**|
|---|---|
## Streatham Central Church
Balance Sheet as at 31 August 2023
|**Note**
**FIXED ASSETS**
Land and buildings
4
**CURRENT ASSETS**
Debtors
8
Cash at Bank and in Hand
**LIABILITIES: AMOUNTS FALLING DUE**
**WITHIN ONE YEAR**
Creditors and accruals
9
**Net current assets**
9
**NET ASSETS (LIABILITIES)**
**FUNDS**
Unrestricted
10
Restricted
10
Revaluation Reserve
Approved by the Trustees and signed on their behalf by:
PENNY DUCKWORTH
Name
Date:
30th June 2024
Creditors: amounts falling due after one year|**2023**
**2022**
£
£
£
£
479,620
27,804
23,900
0
66,428
65,522
90,328
65,522
6,408
2,070
83,920
63,452
173,331
0
**390,209**
**91,256**
280,877
91,256
8,516
0
100,816
0
**390,209**
**91,256**|**2023**
**2022**
£
£
£
£
479,620
27,804
23,900
0
66,428
65,522
90,328
65,522
6,408
2,070
83,920
63,452
173,331
0
**390,209**
**91,256**
280,877
91,256
8,516
0
100,816
0
**390,209**
**91,256**|**2023**
**2022**
£
£
£
£
479,620
27,804
23,900
0
66,428
65,522
90,328
65,522
6,408
2,070
83,920
63,452
173,331
0
**390,209**
**91,256**
280,877
91,256
8,516
0
100,816
0
**390,209**
**91,256**|
|---|---|---|---|
|||||
||||**91,256**|
||||91,256
0
0|
||||**91,256**|
|||||
||Signature|||
Streatham Central Church Notes to the Financial Statements For the year ended 31 August 2023
## **1. Accounting policies**
## a **Basis of preparation**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
## b
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
c
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
d
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
e **Taxation**
The charity is exempt from tax on its charitable activities.
## f
## **Pension costs and other post-retirement benefits**
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
g
## **Fixed Assets**
Land and buildings relates to a shared equity property (Pendennis Road) purchased in conjunction with Co-Mission Churches Trust. The addition in the year ended 31 August 2022 represents an additional contribution from the Streatham Central Church. However, the asset was not shown in previous years' accounts and this error has been corrected this year.
## Streatham Central Church
Notes to the Financial Statements For the year ended 31 August 2023
## **2. INCOME AND ENDOWMENTS**
|**2. INCOME AND ENDOWMENTS**|||||
|---|---|---|---|---|
||**Unrestricted **|**Restricted**|**TOTAL**|**TOTAL**|
||**Funds**|**Funds**|**FUNDS**|**FUNDS**|
||||**2023**|**2022**|
||£|£|£|£|
|2(a) Voluntary income|||||
|Planned giving|129,274|0|129,274|0|
|Donations and legacies|0|5,505|5,505|114,684|
|Gift aid receivable|22,358|1,021|23,379|22,007|
|Special appeals|0|10,668|10,668|0|
|Other income|0|0|0|0|
||151,632|17,194|168,826|136,691|
|2(b) Income from church activities|||||
|Other income|0|0|0|2,600|
||0|0|0|2,600|
|**TOTAL INCOME AND ENDOWMENTS**|**151,632**|**17,194**|**168,826**|**139,291**|
Streatham Central Church Notes to the Financial Statements For the year ended 31 August 2023
## **3. EXPENDITURE**
|**3. EXPENDITURE**|||||
|---|---|---|---|---|
||**Unrestricted**|**Restricted**|**TOTAL**|**TOTAL**|
||**Funds**|**Funds**|**FUNDS**|**FUNDS**|
||||**2023**|**2022**|
||£|£|£|£|
|3(a) Church activities|||||
|Missionary and charitable giving:||||32047|
|Overseas:|||||
|Compassion UK|6777||6,777||
|Home:|||||
|Beacon Church|1668||1,668||
|FIEC|480||480||
|Grace Church|24||24||
|London City Mission|1668||1,668||
|Love Streatham|300||300||
|Options Wimbledon|600||600||
|Relief in Need|0|824|824||
|Wages and pension costs|11517
66632|824
6526.25|12341
73,158|32047
44,387|
|Venue hire|13163|0|13,163|6,522|
|Church running|2629|0|2,629|0|
|Service expenses|282|0|282|569|
|Education and training costs|1327|0|1,327|1,142|
|Youth activities|1645|0|1,645|1,081|
|Refreshments|0|0|0|402|
|Printing, stationery and publicity|1098|0|1,098|1,572|
|Independent examiner's fee|2101|0|2,101|2,070|
|Other professional fees|7339|0|7,339|4,268|
||107,734|7,350|115,084|94,060|
|3(b) Other expenditure|||||
|Staff housing costs|5,178|0|5,178|33,235|
|Bank Charges|102|0|102|100|
|Social events|3,580|0|3,580|692|
|Weekend and away days|938|1,328|2,266|7,488|
|Moveable furniture and equipment|481|0|481|0|
||10,279|1,328|11,607|41,515|
|**TOTAL EXPENDITURE**|**118,013**|**8,678**|**126,691**|**135,575**|
Streatham Central Church Notes to the Financial Statements For the year ended 31 August 2023
## **4 Land and Buildings**
|Cost or valuation at 1 September 2022
Prior year adjustments for understatement of valuation
Additions
Revaluations|**2023**
2022
**£**
£
27,804
27,804
451,816
0
479,620
27,804
0
**479,620**
**27,804**|
|---|---|
## **5 Trustees remuneration and benfits**
The Rev A C Lyell (the Pastor, who is also a trustee of the charity) received a salary of £14,400 (2022 - £14,400) together with pension contributions of £3,600 (2022 - £3,600) in the period and accomodation was provided for him at a cost of £5,178 (2022 - £11,568).
P Duckworth received remuneration in relation to services provided other than as a trustee amounting to £14,000 (2022 £14,000) and pension contributions of £1,400 (2022 £1,400)
Such payments are permitted under the constitution of the charity and no remuneration was paid to them in relation to their role as a trustees. No other trustees received remuneration or benefits in kind from the charity.
## **6 Prior year adjustments**
The purchase of the property at Pendennis Road and the related loans were not reflected in previous years' accounts. Adjustments have been brought in to reflect the value based on a revaluation done in 2021 and an extra contribution made in 2022.
## **7 Analysis of Net assets by fund**
|Land and buildings
Debtors
Bank Current a/c
Creditors due within 1 year
Creditors due after more than 1 year
Revaluation Reserve
**Debtors & Prepayments**
Income Tax recoverable
Prepayments
**Creditors: amounts falling due within one year**
Creditors
Accruals
**Creditors: amounts falling due after more than one year**
Unsecured Loans|Unrestricted Restricted
Funds
Funds
£
£
479,620
0
22,879
1,021
58,934
7,495
(6,408)
0
(173,331)
0
(100,816)
0
**280,877**
**8,516**|**Total Funds Total Funds**
**2023**
**2022**
**£**
**£**
479,620
27,804
23,900
0
66,428
65,522
(6,408)
(2,070)
(173,331)
0
(100,816)
0
**289,393**
**91,256**
**2023**
**2022**
**£**
£
23379
0
521
0
**23,900**
**0**
**2023**
**2022**
**£**
£
6348
60
2070
**6,408**
**2,070**
**2023**
**2022**
173,331
0|
|---|---|---|
## **8 Debtors & Prepayments**
- **9 Creditors: amounts falling due within one year**
Streatham Central Church Notes to the Financial Statements For the year ended 31 August 2023
## **10 Statement of funds**
|**Unrestricted Funds**
General Account
**Restricted Funds**
Salary for community outreach worker
Revive
Relief in Need
**Total funds**|**Bal b/fwd**
**Prior Year**
**Revaluation Bal c/fwd**
**01-Sep-22 Adjustments Additions Income Expenditure Gains/**
**31-Aug-23**
**Losses**
£
£
£
£
£
£
91256
156002
151632
-118013
280877
91256
156002
0
151632
-118013
0
280877
0
0
0
6,526
-6,526
0
0
0
0
1328
-1328
0
0
0
0
9340
-824
8516
0
0
0
17194
-8678
0
8516
**91256**
**156002**
**0**
**168826**
**-126691**
**0**
**289393**|
|---|---|