REGISTERED COMPANY NUMBER: CE016450 (England and Wales) REGISTERED CHARITY NUMBER: 1181950
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2021
FOR
ALL NATIONS CHURCH ILFORD CIO
Cobbin Floyd Ltd Chartered Accountants 15a Station Road Epping Essex CM16 4HG
ALL NATIONS CHURCH ILFORD CIO
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Cash Flow Statement | 5 | ||
| Notes to the Cash Flow Statement | 6 | ||
| Notes to the Financial Statements | 7 | to | 11 |
| Detailed Statement of Financial Activities | 12 | to | 13 |
ALL NATIONS CHURCH ILFORD CIO
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
CE016450 (England and Wales)
Registered Charity number
1181950
Registered office
367 Ley Street Ilford Essex IG1 4AA
Trustees
Rev S P Arscott Mr K D Peistrup Rev M P W Roberts
Independent Examiner
Cobbin Floyd Ltd Chartered Accountants 15a Station Road Epping Essex CM16 4HG
COMMENCEMENT OF ACTIVITIES
All Nations Church was incorporated as a CIO on 8th February 2019. It was previously run as an unregistered and unincorporated charity, called "Ilford Church Plant". The assets were not transferred to the CIO until September 2019, when a bank account was first opened in the name of the CIO. Prior to this date all charitable activities continued to be run through the original charity and therefore the accounts for the period to 31st August 2019 are dormant.
Approved by order of the board of trustees on 15th December 2021 and signed on its behalf by:
Rev S P Arscott - Trustee
Page 1
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ALL NATIONS CHURCH ILFORD CIO
Independent examiner's report to the trustees of All Nations Church Ilford CIO ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st August 2021.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of ICAEW which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
Simon Cobbin, FCA ICAEW Cobbin Floyd Ltd Chartered Accountants 15a Station Road Epping Essex CM16 4HG
15th December 2021
Page 2
ALL NATIONS CHURCH ILFORD CIO
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2021
| Unrestricted fund Notes £ VOLUNTARY INCOME FROM Donations and legacies 2 480,576 Investment income 3 16 Other income 6,012 Total 486,604 EXPENDITURE ON Raising funds 4 44,987 Other 11,900 Total 56,887 NET INCOME 429,717 RECONCILIATION OF FUNDS Total funds brought forward 78,085 TOTAL FUNDS CARRIED FORWARD 507,802 |
Restricted fund £ 156,033 - - 156,033 17,937 15,200 33,137 122,896 - 122,896 |
2021 Total funds £ 636,609 16 6,012 642,637 62,924 27,100 90,024 552,613 78,085 630,698 |
2020 Total funds £ 141,442 20 - |
|---|---|---|---|
| 141,462 - 63,377 |
|||
| 63,377 | |||
| 78,085 - |
|||
| 78,085 |
The notes form part of these financial statements
Page 3
ALL NATIONS CHURCH ILFORD CIO
BALANCE SHEET 31ST AUGUST 2021
| Unrestricted fund Notes £ CURRENT ASSETS Debtors 9 7,140 Cash at bank and in hand 514,047 521,187 CREDITORS Amounts falling due within one year 10 (13,385) NET CURRENT ASSETS 507,802 TOTAL ASSETS LESS CURRENT LIABILITIES 507,802 NET ASSETS 507,802 FUNDS 11 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted fund £ - 122,896 122,896 - 122,896 122,896 122,896 |
2021 Total funds £ 7,140 636,943 644,083 (13,385) 630,698 630,698 630,698 507,802 122,896 630,698 |
2020 Total funds £ - 78,085 |
|---|---|---|---|
| 78,085 - |
|||
| 78,085 | |||
| 78,085 | |||
| 78,085 | |||
| 78,085 - |
|||
| 78,085 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 15th December 2021 and were signed on its behalf by:
Rev S P Arscott - Trustee
The notes form part of these financial statements
Page 4
ALL NATIONS CHURCH ILFORD CIO
CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST AUGUST 2021
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash provided by operating activities Cash flows from investing activities Interest received Net cash provided by investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
2021 £ 558,842 558,842 16 16 558,858 78,085 636,943 |
2020 £ 78,065 |
|---|---|---|
| 78,065 | ||
| 20 | ||
| 20 | ||
| 78,085 - |
||
| 78,085 |
The notes form part of these financial statements
Page 5
ALL NATIONS CHURCH ILFORD CIO
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST AUGUST 2021
| 1. | RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM | OPERATING ACTIVITIES | OPERATING ACTIVITIES |
|---|---|---|---|
| 2021 | 2020 | ||
| £ | £ | ||
| Net income for the reporting period (as per the Statement of Financial | |||
| Activities) | 552,613 | 78,085 | |
| Adjustments for: | |||
| Interest received | (16) | (20) | |
| Increase in debtors | (7,140) | - | |
| Increase in creditors | 13,385 | - | |
| Net cash provided by operations | 558,842 | 78,065 |
2.
ANALYSIS OF CHANGES IN NET FUNDS
| At 1.9.20 | Cash flow | At 31.8.21 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank and in hand | 78,085 | 558,858 | 636,943 |
| 78,085 | 558,858 | 636,943 | |
| Total | 78,085 | 558,858 | 636,943 |
The notes form part of these financial statements
Page 6
ALL NATIONS CHURCH ILFORD CIO
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has received the funds.
Expenditure
Liabilities are recognised as expenditure as soon as the charity has made payment to that expenditure. Expenditure is accounted for on a payments basis and has been classified under headings that aggregate all cost 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.
Taxation
The charity is exempt from corporation tax on its charitable activities.
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.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. DONATIONS AND LEGACIES
| IPC Church planting fund US giving Individuals Internal giving Associate Minister Restricted Fund Diaconal needs Transfer of funds from unincorporated charity Building Fund |
2021 £ - 23,457 24,706 85,398 156,033 - - 347,015 636,609 |
2020 £ 20,000 13,507 29,695 52,358 - 30 25,852 - |
|---|---|---|
| 141,442 |
continued...
Page 7
ALL NATIONS CHURCH ILFORD CIO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2021
3. INVESTMENT INCOME
| Deposit account interest RAISING FUNDS Raising donations and legacies Support costs SUPPORT COSTS Human Church resources running £ £ Raising donations and legacies 53,861 6,290 Other resources expended - - 53,861 6,290 TRUSTEES' REMUNERATION AND BENEFITS Trustees' salaries |
Giving r £ 1,500 11,900 13,400 |
2021 £ 16 2021 £ 62,924 Staff esources £ 1,273 - 1,273 2021 £ 23,058 |
2020 £ 20 2020 £ - |
|---|---|---|---|
| Totals £ 62,924 11,900 |
|||
| 74,824 | |||
| 2020 £ 21,343 |
4. RAISING FUNDS
5. SUPPORT COSTS
6. TRUSTEES' REMUNERATION AND BENEFITS
Trustees' expenses
During the year amounts were reimbursed to the Trustees of the charity for church running expenses as follows:Rev S P Arscott - £1,804 (2019 : £nil)
Rev K D Peistrup - £1,407 (2019 : £nil)
Rev M P W Roberts - £90 (2019 : £nil)
7. STAFF COSTS
| Wages and salaries Social security costs Other pension costs |
2021 £ 38,258 30,324 479 69,061 |
2020 £ 21,343 23,076 330 |
|---|---|---|
| 44,749 |
The average monthly number of employees during the year was as follows:
2021 2020
No employees received emoluments in excess of £60,000.
continued...
Page 8
ALL NATIONS CHURCH ILFORD CIO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2021
| 8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ VOLUNTARY INCOME FROM Donations and legacies 134,442 Investment income 20 Total 134,462 EXPENDITURE ON Other 56,377 NET INCOME 78,085 TOTAL FUNDS CARRIED FORWARD 78,085 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 11. MOVEMENT IN FUNDS At 1.9.20 £ Unrestricted funds General fund 78,085 Restricted funds Restricted fund - TOTAL FUNDS 78,085 |
Restricted fund £ 7,000 - 7,000 7,000 - - 2021 £ 7,140 2021 £ 13,385 Net movement in funds £ 429,717 122,896 552,613 |
Total funds £ 141,442 20 141,462 63,377 78,085 78,085 2020 £ - 2020 £ - At 31.8.21 £ 507,802 122,896 630,698 |
Total funds £ 141,442 20 |
|
|---|---|---|---|---|
| 141,462 63,377 |
||||
| 78,085 | ||||
| 78,085 | ||||
continued...
Page 9
ALL NATIONS CHURCH ILFORD CIO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2021
11. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 486,604 Restricted funds Restricted fund 156,033 TOTAL FUNDS 642,637 Comparatives for movement in funds At 1.9.19 £ Unrestricted funds General fund - TOTAL FUNDS - Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 134,462 Restricted funds Restricted fund 7,000 TOTAL FUNDS 141,462 |
Resources Movement expended in funds £ £ (56,887) 429,717 (33,137) 122,896 (90,024) 552,613 Net movement At in funds 31.8.20 £ £ 78,085 78,085 78,085 78,085 Resources Movement expended in funds £ £ (56,377) 78,085 (7,000) - (63,377) 78,085 |
|---|---|
continued...
Page 10
ALL NATIONS CHURCH ILFORD CIO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2021
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st August 2021.
Page 11
ALL NATIONS CHURCH ILFORD CIO
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2021
| VOLUNTARY INCOME Donations and legacies IPC Church planting fund US giving Individuals Internal giving Associate Minister Restricted Fund Diaconal needs Transfer of funds from unincorporated charity Building Fund Investment income Deposit account interest Other income No description Total incoming resources EXPENDITURE Other Wages Support costs Human resources Trustees' salaries Staff housing costs Pensions Church running Administration Food Advertising Repairs and renewals Visiting preachers Ministry Bookstall Away day Events Ley Street centre Crèche and Sunday school Carried forward |
2021 £ - 23,457 24,706 85,398 156,033 - - 347,015 636,609 16 6,012 642,637 15,200 23,058 30,324 479 53,861 1,331 55 88 2,295 120 - - - 20 2,129 31 6,069 |
2020 £ 20,000 13,507 29,695 52,358 - 30 25,852 - |
|---|---|---|
| 141,442 20 - |
||
| 141,462 - 21,343 23,076 330 |
||
| 44,749 1,274 222 353 805 321 83 178 33 419 234 285 4,207 |
This page does not form part of the statutory financial statements
Page 12
ALL NATIONS CHURCH ILFORD CIO
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2021
| DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2021 |
||
|---|---|---|
| Church running Brought forward Insurance Giving Diaconal needs Presbytery Kuehs seminary support Other donations Staff resources Travel and accomodation Conferences Accountancy Total resources expended Net income |
2021 £ 6,069 221 6,290 - 11,900 1,500 - 13,400 - 133 1,140 1,273 90,024 552,613 |
2020 £ 4,207 - |
| 4,207 1,400 5,500 7,000 100 |
||
| 14,000 229 - 192 |
||
| 421 | ||
| 63,377 | ||
| 78,085 |
This page does not form part of the statutory financial statements
Page 13