OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2024-03-31-accounts

ST MICHAEL’S CJC

TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

PRACTICAL ACCOUNTANT

(Chartered Accountants) 1000 Great West Road

Brentford Middlesex TW8 9DW

ST MICHAEL’S CJC

CONTENTS

Page
Legal and administrative details of the Charity, its trustees and advisors 3
Trustees' report 4 to 5
Independent examiner's report 6
Statement of Financial Activities 7
Balance sheet 8 to 9
Notes to the financial statements 10 to 13

2

ST MICHAEL’S CJC

CHARITY INFORMATION

Charity number 1182176 (England & Wales)
Governing document ST MICHAEL’S CJC is an independent charitable incorporated
organisation.
Trustees Rev Eulalee Joyce Ferguson
Ms Olivene Patricia Ferguson
Ms Carol Spencer
Mrs Angela Haughton
Ms Angela Forrest
Pastor-in-charge Rev Eulalee Joyce Ferguson
Charity contact Ms Carol Spencer
Principal address Rye House (Suite 166)
161 High Street
Harrow
Middlesex
HA4 8JY
Independent examiner Practical Accountant (Chartered Accountants)
1000 Great West Road, Brentford
Middlesex
TW8 9DW
Principal Bankers NatWest
Kingsbury
567 Kingsbury road
London
NW9 94P.
Website www.stmichaelscjc.org
Email info@adminstmichaelscjc.org

3

ST MICHAEL’S CJC

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2024

The Trustees present their annual report and unaudited financial statements for the year ended 31 March 2024. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their account in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).

There were no changes on the Board of Trustees during the year. The Board of Trustees met four times for the year, including one extraordinary meeting called to review the financial position. The church has not negotiated any exceptional circumstances, extraordinary events, or problems during the course of the year.

The focus for the financial year has continued to be on building financial viability and sustainability, continuing with online services including engaging internationally and the scale back of projects. The pressures of the cost-of-living crisis have continued to provide a financially challenging climate impacting the ability to rent premises for face-to-face services. However, some attendees are now meeting face to face to join the services, providing opportunities for pastoral support and increased engagement. Online services remain well supported and effective, benefiting new attendees locally and internationally.

Key Achievements

Focussing mainly on financial viability, the following achievements have been made.

Major Risks Management

It is evident that the cost of storage utilises a considerable proportion of income and further consideration is required to ensure this is reduced as much as possible. Whilst costs have been reduced to the end of the calendar year work is required to find more cost-effective storage including a reduction of items needing to be stored in the coming year.

Review of financial position

During the year ended 31 March 2024, there were incoming resources of £24,966 (2023: £18,680) and total resources expended of £22,228 (2023: £22,289), resulting in a Surplus of £2,738. As at 31 March 2024, St Michael CJC had net deficit funds of (£871). The incoming resources increased significant compared to last year. The Charity is financially stable.

4

Going concern

After making appropriate inquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. The Trustees have considered the impacts that the cost-of-living crisis may have on the Charity, and it is deemed that the Charity can meet its commitments and liabilities and can continue for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Future plans

Face to face engagement has solidified the need for return to in-person worship whilst also maintaining online presence to accommodate those fellowshipping internationally. Premises will also support the building of projects to increase community engagement, advancing the Christian religion and playing our part to relieving hardship. To this end, there is a need to continue to strengthen our financial position to provide a sound base from which to enable face to face meetings. The aim is to

  1. minimise the cost of storage, scaling down and disposing of unnecessary items.

  2. consider fundraising strategies to assist with efforts to continue to strengthen viability and the ability to assist in the relief of financial hardship.

  3. continue seeking partnerships and opportunities to support the disadvantaged.

Approved by the Board of Trustees and signed on its behalf

Angela Haughton Chairman

Date: 12/12/2024

5

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ST MICHAEL’S CJC

FOR THE YEAR ENDED 31 MARCH 2024

Independent examiner's report to the Trustees of St Michael’s CJC ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2024.

Responsibilities and basis of report.

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

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 the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the Charity has prepared the accounts 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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 that in any material respect:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do 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.

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Matthew Odu PRACTICAL ACCOUNTANT

Chartered Accountants 1000 Great West Road, Brentford Middlesex TW8 9DW

12 December 2024

6

ST MICHAEL’S CJC

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MARCH 2024

Note
INCOMING RESOURCES
Incoming funds from generated funds
Voluntary income
2
Interest income
Gift aid repayment
Total incoming resources
RESOURCES EXPENDED
Cost of generating funds
Fundraising costs and other costs
3
Charitable activities
4
Support costs
Legal costs and other professional fees
5
6
Other resources expended
7
Total resources expended
Net incoming/(outgoing) resources
before other recognised gains and losses
Other recognised gains
Net movement in funds
Funds brought forward
Total funds at 31 March		 Unrestricted
Designated
Funds
Funds
2024
2023
£
£
£
£
24,966
24,966
18,680
-
-
-
-
-
-
24,966
24,966
18,680
15,457
-
15,457
16,766
1,000
-
1,000
2,793
3,935
-
-
-
3,935
-
1,906
348
1,836
-
1,836
476
22,228
-
22,228
22,289
2,738
-
2,738
(3,609)
-
-
-
-
2,738
-
2,738
(3,609)
(3,609)
-
(3,609)
(3,383)
(871)
-
(871)
(6,992)

7

ST MICHAEL’S CJC

BALANCE SHEET

AS AT 31 MARCH 2024

Notes
Fixed assets
Tangible fixed assets
11
Current assets
Cash at bank and in hand
Prepayment
Current liabilities
Creditors and accruals
Current portion of long-term loans
Net current assets
Total assets less current liabilities
Long term loans		 2024
£
-
-
8,810
-
8,810
(9,681)
-
(871)
(871)
(871)
-
(871)		 2023
£
-
-
2,540
-
2,540
(6,149)
-
(3,609)
(3,609)
(3,609)
-
(3,609)

8

ST MICHAEL’S CJC

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

Funds of the Charity
Unrestricted fund
Restricted fund		 (871)
-
(871)		 (3,609)
-
(3,609)

The financial statements were approved by the Trustees on and signed on their behalf, by:

................................................ …………………………………. C Spencer Angela Haughton, Chairman Carol Spencer, Financial Trustee

The notes on pages 10 to 13 form part of these financial statements.

9

ST MICHAEL’S CJC

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

1 Principal accounting policies

Basis of accounting

The accounts 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 for Smaller Entities published on 16 July 2014 and the Charities Act 2011 and applicable regulations.

The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated.

Fund accounting

Unrestricted funds comprise accumulated surpluses and deficits on general funds. They are available for use at the discretion of the Trustees in furtherance of the general charitable objectives.

Restricted funds are subject to specific restrictions as imposed by the donors.

Incoming resources

Income represents donations and investment income received which are brought into account on receipt unless their receipt is reasonably certain in which case they are brought into account when notified. Fundraising income is recognised on the date that the fundraising event took place.

Resources expended

Expenditure is recognised when a liability is incurred. Expenditure includes VAT. Fundraising costs include those costs relating to special programmes and sponsored activities.

Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.

Other resources expended relate to those other costs that cannot be attributed to any other relevant heading.

Depreciation

Depreciation on fixed assets is charged so as to write off their full costs less estimated residual value over their expected useful lives at the following rates:

Computer equipment 50% straight line
Other equipment 25% straight line
Motor vehicle 25% straight line
2
Voluntary income
Tithes
Offering
Other donation		 Unrestricted
£
20,936
2,582
1,448
24,966		 Designated
£
-		 2024
£
20,936
2,582
1,448
24,966		 2023
£
12,608
3,127
2,945
18,680

10

ST MICHAEL’S CJC

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

3
Fundraising costs and other costs
Rent
Storage Rentals
Mortgage interest
Fund raising events
Publicity and evangelism
Stationery, printing & postage
4
Charitable activities
Welfare & entertainment
Indirect donations
5
Support costs
Transport and travelling
Repairs and renewals
Independent examiner fee
Software
Depreciation
Training
6
Legal costs
Legal and professional costs
7
Other resources expended
Insurance
Telephone & communication
Bank charges		 Unrestricted
£
6,898
5,544
-
2,000
-
1,015
15,457		 Designated
£
-
-
-
-
-
-
-
Designated
£
-
-
-
Designated
£
-
-
-
-
-
-
-
Designated
£
-
-
Designated
£
-
-
-
-		 2024
£
6,898
5,544
-
2,000
-
1,015
15,457		 2023
£
8,100
-
-
2,678
3,445
2,543
16,766
Unrestricted
£
1,000
-
1,000		 2024
£
1,000
-
1,000		 2023
£
2,793
-
2,793
Unrestricted
£
-
-
2,396
-
-
1,539
3,935		 2024
£
-
-
2,396
-
-
1,539
3,935		 2023
£
-
-
965
284
-
657
1,906
Unrestricted
£
-
-		 2024
£
-
-		 2023
£
348
348
Unrestricted
£
218
1,618
-
1,836		 2024
£
218
1,618
-
1,836		 2023
£
102
320
54
476

11

ST MICHAEL’S CJC NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

8
Analysis of net assets
Unrestricted funds
Designated funds
Endowment income
9
Unrestricted funds
10
Designated funds
Building fund
11 Tangible fixed assets
Tangible fixed assets
Cost:
As at 01 April 2023
Addition
At 31 March 2024
Depreciation:
As at 01 April 2023
Addition
At 31 March 2024
Net book value:
As at 01 April 2023
At 31 March 2024		 At
1 April
2023
£
(3,609)
(3,609)
At
1 April
2023
£
-
-
Freehold property
£
 At
1 April
2023
£
(3,609)
(3,609)		 Fixed
assets
£
-
-
-
-		 Total
2024
£
2,738
-
-
2,738		 Total
2023
£
(3,609)
-
-
(3,609)
At
31 Mar
2024
£
(871)
(871)
At
31 Mar
2024
£
-
-
2023
£
1,500
-
Funds
Introduced
£
-
-
At
1 April
2023
£
-
-		 Funds
introduced
£
-
-

-
1,500
1,500		 1,500
-
1,500
1,500
-
-
-		 1500
-
-
1,500
1,500		 1500
-
-
-		 -
-
-
-		 -

12

ST MICHAEL’S CJC NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

12 Taxation

St Michael’s CJC is a registered charity and therefore is not liable to income tax or corporation tax on income or gains derived from its charitable activities, as they fall within the various exemptions available to registered charities.

13 Trustee remuneration and reimbursed expenses

None of the Trustees received remuneration for their services during the year. No payments were made for their travel and administration expenses.

13