**REGISTERED CHARITY NUMBER: 1183581**
## **REPORT OF THE TRUSTEES AND**
## **FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31ST DECEMBER 2021**
## **FOR**
## **THE POTTERS HOUSE WALTHAM FOREST**
Cobbin Floyd Ltd Chartered Accountants 15a Station Road Epping Essex CM16 4HG
**THE POTTERS HOUSE WALTHAM FOREST**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|3|
|**Report of the Independent Auditors**|4|to|6|
|**Statement of Financial Activities**||7||
|**Balance Sheet**||8||
|**Cash Flow Statement**||9||
|**Notes to the Cash Flow Statement**||10||
|**Notes to the Financial Statements**|11|to|18|
|**Detailed Statement of Financial Activities**|19|to|20|
**THE POTTERS HOUSE WALTHAM FOREST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021**
The Trustees present the annual report in conjunction with the financial statements of the Charity for the year ending 31st December 2021. This report, together with the financial statement is prepared in compliance with the accounting policies set out in the Charity's Trust Deed and applicable law.
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
As a Christian organisation, our aim has been and continues to be the promotion of the Gospel of Jesus Christ. This is done primarily in our local community of Waltham Forest and in adjoining boroughs. The charity endeavours to send and support missionary workers throughout the world. Our aim is to make a positive and lasting contribution to our local community, with greater emphasis on the family unit, our youth, disadvantaged and the elderly. We have been successful in this regard throughout the year by partnering with the Local Authority to tackle knife and gun crime, anti-social behaviour and juvenile delinquency through the use of the gospel as an avenue for rehabilitation. Our youth ministries continue to try and maximise their positive impact and influence upon the young people of our Borough (Waltham Forest) and beyond.
The Charity has a volunteer Youth Leader who retains a specific responsibility for spearheading the promotion of youth outreaches in the community, which include Gospel concerts, drama productions, football tournaments and street events. Each of these programmes is targeted to meet the needs of all age groups within our local and diverse community. The aforementioned events are held in conjunction with our regular church services. All organised activities and events are of a non-profit nature and are funded by the church.
In line with our objective to promote the Christian faith through worship and preaching we hold regular church services and these are promoted by non-discriminatory invitations given out to the general public.
Since the full lifting of pandemic restrictions and a return to normal operating procedures, we have been able to reinstate our usual services and activities.Our regular church services were held at The Potters House, 366 Lea Bridge Road, London E10 7LD on Wednesday nights and Sunday mornings and evenings. Sunday school classes are held on Sunday mornings and the children's church services held on Sunday evenings aim to reach out to local families, catering for ages 4-11. We continue to offer a nursery available from birth to 3 years, which enables parents to take part in every service knowing that their small children are well cared for. A number of young adults and teenagers within the congregation have active roles in all these ministries. DBS checks are carried out on those working with children and we maintain a safeguarding policy.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
As a local community church we have observed a growth in true conversions, visitors and general attendance due mainly to our outreach strategies.
As members of our local neighbourhood we have for years worked tirelessly for our local borough to try and reach out to our general community and help in any area where possible e.g. support of the charity Heaven Sent, as well as the elderly, disadvantaged, lonely and deprived. We have seen the rewards and positive results from these Christian endeavours.
Bible study groups (home bible groups) are flourishing and continue to be an immense support network for attendees in general and particularly for those facing difficulties. Home group leaders continue to take initiative to have their own local outreaches.
## **FINANCIAL REVIEW**
## **Monetary review**
With the lifting of COVID-19 restrictions and the reinstatement of usual church services and activities, it is evident that not only has the stability of the church and the finances been maintained, we have seen growth over the period and continue to thrive. The church continues to benefit from the generosity and support of its members through their donations. The Trustees are happy with the level of income and the commitment of its members through their regular donations during and after the pandemic.
## **Reserves policy**
The Charities restricted funds held in reserve for any unforeseen circumstances are adequate. The Trustees are satisfied that these reserves are maintained at an appropriate and satisfactory level.
Page 1
**THE POTTERS HOUSE WALTHAM FOREST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021**
## **FUTURE PLANS**
We will continue to invest funds in planting churches, regular revivals and outreaches. Plans for the remainder of 2022 include further expression in both national and world evangelism. We envision continued church planting locally, regionally and internationally including continued missionary support in line with our objective.
Our continued plan for young people at risk of offending and to influence their life choices towards more positive engagements remains a priority and focus.
It is necessary to reiterate that funding is generated via non-compulsory contributions (weekly offerings/ donations) by members of this church.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The church registered as a Charitable Incorporated Organisation on 24th May 2019 and its objects are to promote the Christian faith. For the furtherance of this aim regular activities are carried out and invitations given out to the public.
Appointment of the Trustees is governed by the Constitution of the Charity. The current Board of Trustees constitutes five members. Details of the Trustees who have served during the period are given on page 3. The church's pastor (Pastor Nigel Brown) is ex officio the Chair of Trustees, also being responsible for the day to day operation of the charity and management of the staff of the charity on behalf of the Board. Finance is raised from the congregation's contributions and Gift Aid.
The Board of Trustees is authorised to appoint new trustees to fill vacancies through resignation or death of an existing trustee until the following AGM, whereupon congregational members will be invited to confirm the new trustee by vote. Other than the church's pastor, trustees are appointed for a two-year term and may serve for a maximum of six consecutive years. The Trustees retain the collective responsibility for major financial decisions and investments with Board meetings being held monthly.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1183581
## **Principal address**
366 Lea Bridge Road Leyton E10 7LD
## **Trustees**
R H D Humphrey P Sahota Pastor N.J. Brown, Esq. M Buzzella R Ruddock (appointed 7.10.21)
## **Auditors**
Cobbin Floyd Ltd Chartered Accountants 15a Station Road Epping Essex CM16 4HG
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Page 2
**THE POTTERS HOUSE WALTHAM FOREST**
## **REPORT OF THE TRUSTEES**
## **FOR THE YEAR ENDED 31ST DECEMBER 2021**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued**
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees on 27th October 2022 and signed on its behalf by:
Pastor N.J. Brown, Esq. - Trustee
Page 3
**REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE POTTERS HOUSE WALTHAM FOREST**
## **Opinion**
We have audited the financial statements of The Potters House Waltham Forest (the 'charity') for the year ended 31st December 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the charity's affairs as at 31st December 2021 and of its incoming resources and application of resources, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
- the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.
Page 4
## **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE POTTERS HOUSE WALTHAM FOREST**
## **Responsibilities of trustees**
As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
## **Our responsibilities for the audit of the financial statements**
We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
To identify risks of material misstatement due to fraud we assessed events or conditions that could indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud.
Our risk assessment procedures included:
- Discussions with management
- Reading board minutes
- Evaluation of management's controls designed to prevent and detect irregularities
- Using analytical procedures to identify any unusual or unexpected transactions
We communicated the identified fraud risks with the audit team and remained alert to any indications of fraud throughout the audit.
As required by auditing standards, and taking into account our overall knowledge of the control environment, we performed procedures to address the risk of management override of controls, in particular the risk that management may be in a position to make inappropriate accounting entries.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
Page 5
## **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE POTTERS HOUSE WALTHAM FOREST**
## **Use of our report**
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. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Cobbin Floyd Ltd Chartered Accountants 15a Station Road Epping Essex CM16 4HG
27th October 2022
Page 6
**THE POTTERS HOUSE WALTHAM FOREST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2021**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**Charitable activities**
Conferences
Seminars
Mens Discipline
Love offering
Investment income
3
Other income
**Total**
**EXPENDITURE ON**
Raising funds
5
**Charitable activities**
6
Church support
Missionary support
Conferences
Tithes and offerings
Revivals and outreach
Visiting speakers
Other
**Total**
**NET INCOME**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
**2,029,506**
**220,872**
**18,851**
**16,411**
**9,716**
**49,780**
**-**
**2,345,136**
**6,303**
**451,965**
**(119,665)**
**11,366**
**126,469**
**27,130**
**36,349**
**775,979**
**1,315,896**
**1,029,240**
**2,459,086**
**3,488,326**|Restricted
fund
£
**386,611**
**-**
**-**
**-**
**-**
**-**
**-**
**386,611**
**-**
**-**
**119,665**
**28,100**
**-**
**44,716**
**-**
**17,745**
**210,226**
**176,385**
**246,322**
**422,707**|**2021**
**Total**
**funds**
**£**
**2,416,117**
**220,872**
**18,851**
**16,411**
**9,716**
**49,780**
**-**
**2,731,747**
**6,303**
**451,965**
**-**
**39,466**
**126,469**
**71,846**
**36,349**
**793,724**
**1,526,122**
**1,205,625**
**2,705,408**
**3,911,033**|2020
Total
funds
£
3,315,155
-
-
-
-
-
6,096|
|---|---|---|---|---|
|||||3,321,251|
|||||-
495,000
8,671
-
-
-
-
112,172|
|||||615,843|
|||||2,705,408
-|
|||||2,705,408|
The notes form part of these financial statements
Page 7
**THE POTTERS HOUSE WALTHAM FOREST**
## **BALANCE SHEET**
## **31ST DECEMBER 2021**
|Notes
**FIXED ASSETS**
Tangible assets
12
**CURRENT ASSETS**
Debtors
13
Prepayments and accrued income
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
14
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
15
**NET ASSETS**
**FUNDS**
17
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
fund
£
**4,190,510**
**171,077**
**-**
**987,246**
**1,158,323**
**(182,271)**
**976,052**
**5,166,562**
**(1,678,236 )**
**3,488,326**|Restricted
fund
£
**-**
**-**
**-**
**422,707**
**422,707**
**-**
**422,707**
**422,707**
**-**
**422,707**|**2021**
**Total**
**funds**
**£**
**4,190,510**
**171,077**
**-**
**1,409,953**
**1,581,030**
**(182,271)**
**1,398,759**
**5,589,269**
**(1,678,236 )**
**3,911,033**
**3,488,326**
**422,707**
**3,911,033**|2020
Total
funds
£
4,127,956
-
119,023
356,465
475,488
(137,514)
337,974
4,465,930
(1,760,522 )
2,705,408
2,459,086
246,322
2,705,408|
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 27th October 2022 and were signed on its behalf by:
N.J. Brown, Esq. - Trustee
The notes form part of these financial statements
Page 8
## **THE POTTERS HOUSE WALTHAM FOREST**
## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST DECEMBER 2021**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Interest paid
Finance costs paid
Net cash provided by operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Interest received
Net cash used in investing activities
**Cash flows from financing activities**
New loans in year
Loan repayments in year
Net cash (used in)/provided by financing 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**
**£**
**1,353,267**
**-**
**(51,987)**
**1,301,280**
**(165,536)**
**30**
**(165,506)**
**-**
**(82,286)**
**(82,286)**
**1,053,488**
**356,465**
**1,409,953**|2020
£
2,697,605
(23,736)
-
2,673,869
(4,212,200 )
-
(4,212,200 )
1,894,796
-
1,894,796
356,465
-
356,465|
|---|---|---|
The notes form part of these financial statements
Page 9
**THE POTTERS HOUSE WALTHAM FOREST**
## **NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST DECEMBER 2021**
|**1.**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|
|---|---|---|---|---|
||||**2021**|2020|
||||**£**|£|
||**Net income for the reporting period (as per the Statement of Financial**||||
||**Activities)**||**1,205,625**|2,705,408|
||**Adjustments for:**||||
||Depreciation charges||**102,982**|84,244|
||Interest received||**(30)**|-|
||Interest paid||**-**|23,736|
||Finance costs||**51,987**|-|
||Increase in debtors||**(52,054)**|(119,023)|
||Increase in creditors||**44,757**|3,240|
||**Net cash provided by operations**||**1,353,267**|2,697,605|
|2.|**ANALYSIS OF CHANGES IN NET DEBT**||||
|||At 1.1.21|Cash flow|**At 31.12.21**|
|||£|£|**£**|
||**Net cash**||||
||Cash at bank and in hand|**356,465**|**1,053,488**|**1,409,953**|
|||**356,465**|**1,053,488**|**1,409,953**|
||**Debt**||||
||Debts falling due within 1 year|**(134,274)**|**-**|**(134,274)**|
||Debts falling due after 1 year|**(1,760,522 )**|**82,286**|**(1,678,236 )**|
|||**(1,894,796 )**|**82,286**|**(1,812,510 )**|
||**Total**|**(1,538,331 )**|**1,135,774**|**(402,557)**|
The notes form part of these financial statements
Page 10
**THE POTTERS HOUSE WALTHAM FOREST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
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.
## **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.
## **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 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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property
- 2% on cost
## **Taxation**
The charity is exempt from 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 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.
continued...
Page 11
**THE POTTERS HOUSE WALTHAM FOREST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021**
|**2.**
**DONATIONS AND LEGACIES**
Donations
Gift aid
**3.**
**INVESTMENT INCOME**
Rents received
Deposit account interest
**4.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Conferences
Conferences
Grants
Seminars
Grants
Mens Discipline
Grants
Love offering
Grants received, included in the above, are as follows:
**5.**
**RAISING FUNDS**
**Raising donations and legacies**
Postage and stationery|**2021**
**£**
**2,250,832**
**165,285**
**2,416,117**
**2021**
**£**
**49,750**
**30**
**49,780**
**2021**
**£**
**220,872**
**18,851**
**16,411**
**9,716**
**265,850**
**2021**
**£**
**2021**
**£**
**6,303**|2020
£
3,196,132
119,023|2020
£
3,196,132
119,023|2020
£
3,196,132
119,023|
|---|---|---|---|---|
|||3,315,155|||
|||||2020
£
-
-|
|||||-|
|||||2020
£
-
-
-
-|
|||||-|
|||||2020
£
2020
£
-|
continued...
Page 12
**THE POTTERS HOUSE WALTHAM FOREST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021**
## **6. CHARITABLE ACTIVITIES COSTS**
|Church support
Conferences
Tithes and offerings
Revivals and outreach
Visiting speakers
**7.**
**GRANTS PAYABLE**
Church support
Missionary support
Conferences
Tithes and offerings
Revivals and outreach
Visiting speakers
**8.**
**SUPPORT COSTS**
Management
Finance
£
£
Other resources expended
**533,576**
**58,272**
**9.**
**TRUSTEES' REMUNERATION AND BENEFITS**
Trustees' salaries
Trustees' social security|Grant
funding of
activities
Direct
(see note
Costs
7)
£
£
**-**
**451,965**
**-**
**39,466**
**-**
**126,469**
**68,465**
**3,381**
**-**
**36,349**
**68,465**
**657,630**
**2021**
**£**
**451,965**
**-**
**39,466**
**126,469**
**3,381**
**36,349**
**657,630**
Governance
Other
costs
£
£
**146,933**
**54,943**
**2021**
**£**
**84,536**
**10,559**
**95,095**|Totals
£
**451,965**
**39,466**
**126,469**
**71,846**
**36,349**|Totals
£
**451,965**
**39,466**
**126,469**
**71,846**
**36,349**|
|---|---|---|---|
|||**726,095**||
|||2020
£
495,000
8,636
-
-
-
-||
|||503,636||
|||Totals
£
**793,724**||
||||2020
£
-
-|
||||-|
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31st December 2021 nor for the year ended 31st December 2020.
continued...
Page 13
**THE POTTERS HOUSE WALTHAM FOREST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021**
## **10. STAFF COSTS**
|Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
No employees received emoluments in excess of £60,000.
**11.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
3,063,795
Other income
6,096
**Total**
3,069,891
**EXPENDITURE ON**
**Charitable activities**
Church support
495,000
Missionary support
3,633
Other
112,172
**Total**
610,805
**NET INCOME**
2,459,086
**TOTAL FUNDS CARRIED FORWARD**
2,459,086|||**2021**
**£**
**197,044**
**15,423**
**17,718**
**230,185**
**2021**
Restricted
fund
£
251,360
-
251,360
-
5,038
-
5,038
246,322
246,322|||
|---|---|---|---|---|---|
|||||||
|||||||
||||||3,321,251|
||||||495,000
8,671
112,172|
||||||615,843|
||||||2,705,408|
||||||2,705,408|
continued...
Page 14
**THE POTTERS HOUSE WALTHAM FOREST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021**
## **12. TANGIBLE FIXED ASSETS**
|Fixtures
Freehold
and
Motor
property
fittings
vehicles
£
£
£
**COST**
At 1st January 2021
**4,212,200**
**-**
**-**
Additions
**-**
**154,950**
**3,429**
At 31st December 2021
**4,212,200**
**154,950**
**3,429**
**DEPRECIATION**
At 1st January 2021
**84,244**
**-**
**-**
Charge for year
**84,244**
**15,495**
**857**
At 31st December 2021
**168,488**
**15,495**
**857**
**NET BOOK VALUE**
At 31st December 2021
**4,043,712**
**139,455**
**2,572**
At 31st December 2020
4,127,956
-
-
**13.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
Prepayments
**14.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Bank loans and overdrafts (see note 16)
Other creditors||Computer
equipment
£
**-**
**7,157**
**7,157**
**-**
**2,386**
**2,386**
**4,771**
-
**2021**
**£**
**160,383**
**10,694**
**171,077**
**2021**
**£**
**134,274**
**47,997**
**182,271**|Totals
£
**4,212,200**
**165,536**|Totals
£
**4,212,200**
**165,536**|
|---|---|---|---|---|
||||**4,377,736**||
||||**84,244**
**102,982**||
||||**187,226**||
||||**4,190,510**||
||||4,127,956||
|||||2020
£
-
-|
|||||-|
|||||2020
£
134,274
3,240|
|||||137,514|
Page 15
continued...
**THE POTTERS HOUSE WALTHAM FOREST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021**
|**15.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
**2021**
**£**
Bank loans (see note 16)
**1,678,236**
**16.**
**LOANS**
An analysis of the maturity of loans is given below:
**2021**
**£**
Amounts falling due within one year on demand:
Bank loans
**134,274**
Amounts falling between one and two years:
Bank loans - 1-2 years
**134,274**
Amounts falling due between two and five years:
Bank loans - 2-5 years
**1,543,962**
**17.**
**MOVEMENT IN FUNDS**
Net
movement
At 1.1.21
in funds
£
£
**Unrestricted funds**
General fund
**2,459,086**
**1,029,240**
**Restricted funds**
Restricted fund
**246,322**
**176,385**
**TOTAL FUNDS**
**2,705,408**
**1,205,625**
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
**2,345,136**
**(1,315,896 )**
**Restricted funds**
Restricted fund
**386,611**
**(210,226)**
**TOTAL FUNDS**
**2,731,747**
**(1,526,122 )**|2020
£
1,760,522
2020
£
134,274
134,274
1,626,248
At
31.12.21
£
**3,488,326**
**422,707**
**3,911,033**
Movement
in funds
£
**1,029,240**
**176,385**
**1,205,625**|
|---|---|
Page 16
continued...
**THE POTTERS HOUSE WALTHAM FOREST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021**
## **17. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|Net
movement
in funds
£
**Unrestricted funds**
General fund
2,459,086
**Restricted funds**
Restricted fund
246,322
**TOTAL FUNDS**
2,705,408
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
3,069,891
(610,805)
**Restricted funds**
Restricted fund
251,360
(5,038)
**TOTAL FUNDS**
3,321,251
(615,843)
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement
At 1.1.20
in funds
£
£
**Unrestricted funds**
General fund
-
3,488,326
**Restricted funds**
Restricted fund
-
422,707
**TOTAL FUNDS**
-
3,911,033|At
31.12.20
£
2,459,086
246,322
2,705,408
Movement
in funds
£
2,459,086
246,322
2,705,408
At
31.12.21
£
3,488,326
422,707
3,911,033|
|---|---|
continued...
Page 17
**THE POTTERS HOUSE WALTHAM FOREST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021**
## **17. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Restricted fund
**TOTAL FUNDS**|Incoming
resources
£
5,415,027
637,971
6,052,998|Resources
expended
£
(1,926,701 )
(215,264)
(2,141,965 )|Movement
in funds
£
3,488,326
422,707
3,911,033|
|---|---|---|---|
## **18. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31st December 2021.
## **19. DONATION INCOME**
The figure for donation income in the accounts for the year ended 31st December 2020 included the donation of assets from the previous Potters House Christian Fellowship Walthamstow charity to the new Potters House Waltham Forest CIO and is therefore not comparable to the donations income figure in the accounts for the year ended 31st December 2021.
Page 18
**THE POTTERS HOUSE WALTHAM FOREST**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2021**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Gift aid
**Investment income**
Rents received
Deposit account interest
**Charitable activities**
Conferences
Grants
**Other income**
Other income
**Total incoming resources**
**EXPENDITURE**
**Raising donations and legacies**
Postage and stationery
**Charitable activities**
Car hire
Hotels and accommodation
Grants to institutions
Grants to individuals
**Other**
Interest payable
**Support costs**
**Management**
Trustees' salaries
Trustees' social security
Salaries
Social security
Pensions
Carried forward|2021
£
**2,250,832**
**165,285**
**2,416,117**
**49,750**
**30**
**49,780**
**220,872**
**44,978**
**265,850**
**-**
**2,731,747**
**6,303**
**3,023**
**65,442**
**657,630**
**-**
**726,095**
**-**
**84,536**
**10,559**
**112,508**
**4,864**
**17,718**
**230,185**|2020
£
3,196,132
119,023|
|---|---|---|
|||3,315,155
-
-|
|||-
-
-|
|||-
6,096|
|||3,321,251
-
-
-
495,000
8,636|
|||503,636
23,736
-
-
-
-
-
-|
This page does not form part of the statutory financial statements
Page 19
**THE POTTERS HOUSE WALTHAM FOREST**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2021**
|**Management**
Brought forward
Building rent and rates
Insurance
Utilities
Telephone
Promotional and hospitality costs
Sundries
Repairs and maintenance
Stationery and postage
Building maintenance
Equipment repair and maintenance
Cleaning
Motor vehicle running expenses
Travel and airfares
Books and periodicals
Benevolence
Training
Computer consumables
Freehold property
Fixtures and fittings
Motor vehicles
Computer equipment
**Finance**
Bank charges
Mortgage interest payable
**Other**
New building costs
**Governance costs**
Auditors' remuneration
Bookkeeping
Accountancy and legal fees
Total resources expended
**Net income**|2021
£
**230,185**
**539**
**7,617**
**10,445**
**14,023**
**14,375**
**4,823**
**-**
**2,216**
**52,781**
**2,832**
**14,093**
**4,268**
**53,291**
**2,027**
**7,667**
**791**
**8,621**
**84,244**
**15,495**
**857**
**2,386**
**533,576**
**6,285**
**51,987**
**58,272**
**146,933**
**6,114**
**9,452**
**39,377**
**54,943**
**1,526,122**
**1,205,625**|2020
£
-
-
-
-
-
-
-
150
-
-
-
-
-
-
-
-
-
-
84,244
-
-
-|
|---|---|---|
|||84,394
837
-|
|||837
-
-
-
3,240|
|||3,240|
|||615,843|
|||2,705,408|
This page does not form part of the statutory financial statements
Page 20