**REGISTERED CHARITY NUMBER: 1183617** ## **REPORT OF THE TRUSTEES AND** **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** ## **FOR** ## **THE CHURCHES TOGETHER SHOP** Graham Paul Limited Court House Court Road Bridgend CF31 1BE **THE CHURCHES TOGETHER SHOP** **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** |||**Page**|| |---|---|---|---| |**Report of the Trustees**|1|to|2| |**Statement of Financial Activities**||3|| |**Balance Sheet**||4|| |**Notes to the Financial Statements**|5|to|9| |**Detailed Statement of Financial Activities**||10|| **THE CHURCHES TOGETHER SHOP** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021** The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of 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). ## **OBJECTIVES AND ACTIVITIES** ## **Background** A Maelfa Shop has been running for many years under the aegis of the "Cardiff East Ecumenical Mission Partnership" and its Sponsoring Body with Cytun. However the decision was made that it should become a CIO in its own right, and this was achieved in 2019 as The Churches Together Group. The shop is located at Maelfa Shopping Centre, Llanedeyrn, near the eastern outskirts of Cardiff. Following many years in two other shop units in the Maelfa Centre (now demolished), it moved into its present premises in April 2019. ## **Objectives and Aims** The trustees have had regard to the guidance issued by the Charity Commission on public benefit. The prevention or relief of poverty by providing information, items and services to individuals living in East and North Cardiff who are in need. For the public benefit to promote the social inclusion of people living in East and North Cardiff by preventing such people from becoming socially excluded, relieving the needs of people who are socially excluded and assisting them to integrate into society. The Churches Together Shop ("the Maelfa Shop") is administered by a Trustees who are supported by a wider Management Committee. The shop sells nearly new clothing, gifts, books, DVD's and CD's and other items at reasonable prices. Refreshments are also served. There is also a café serving tea, coffee and breakfasts. It serves as a drop-in centre where volunteer staff, can minister to the needs of the community. Visitors can also receive help with form filling & signposting to other care agencies, housing & benefit advice. Members of the local clergy also visit regularly and are available to anyone needing their help. A professionally staffed counselling service is also due to be added to these services shortly. This unfortunately did not happen as planned during 2021 due to Covid. ## **ACHIEVEMENT AND PERFORMANCE** ## **Achievements of the charity** It is the jewel in the crown of all that has been achieved ecumenically in the last quarter of a century in East Cardiff. The place is a beacon of hope to many and has helped countless people over the years. It has provided support, fellowship, access to advice and refreshment to the community and low-cost goods for purchase by the community it serves. In 2019 the charity relocated to a new, fit for purpose, premises which will add to its success. Unfortunately, as a result of Covid the shop was required to remain closed for a significant part of the year. This clearly resulted in the loss of revenue. It has also meant that we needed to advertise widely on social media etc to tell people when we were open, to attract pre Covid customers back and attract new customers. The café is an important revenue raiser and the necessary restrictions of Covid had implications in terms of serving food. For example, the requirement to limit the number of customers in the café and shop generally also had a knock-on effect. However, we are blessed with conscientious and determined volunteers, who are all unpaid, and this will prove to be an important part of our revival. In addition, we were fortunate to obtain a grant of £25k because of the above-mentioned consequences of Covid. -1- **THE CHURCHES TOGETHER SHOP** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021** ## **FINANCIAL REVIEW** ## **Reserves policy** Reserves are held to ensure that the Maelfa Shop has sufficient finances to meet any unforeseen expenditure or respond to changing circumstances. In time, the Trustees will consider the setting aside sums within its reserves as "Earmarked Reserves" to meet specific, known challenges or pressures. This represents sound financial and risk management. ## **Financial position** Accounts have been prepared and approved by the Trustees. These are filed separately and describe the CIO's financial position, including all income & expenditure for the period covered by this report. The Trustees are confident that the charity will continue as a going concern. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The charity is controlled by its governing document, the Constitution, and constitutes a Charitable Incorporated Organisation registered in England and Wales with the Charity Commission. ## **Induction and training of new trustees** New Trustees are appointed at properly constituted meetings, following consideration of credentials by the existing Trustees. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1183617 ## **Principal address** Ty Maelfa Llanedeyrn Cardiff CF23 9PL ## **Trustees** Reverend J A Henley J Thorne F L Jacobsen A L J Kleissner Approved by order of the board of trustees on ............................................. and signed on its behalf by: ................................................................. Reverend J A Henley - Trustee -2- **THE CHURCHES TOGETHER SHOP** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021** |2021
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
-
Other trading activities
3
8,475
Investment income
4
8
**Total**
8,483
**EXPENDITURE ON**
Raising funds
4,452
Other
5
93
**Total**
4,545
**NET INCOME**
3,938
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
40,791
**TOTAL FUNDS CARRIED FORWARD**
44,729|2020
Total
funds
£
25,000
2,984
58| |---|---| ||28,042| ||7,763
-| ||7,763| ||20,279
20,512| ||40,791| The notes form part of these financial statements -3- ## **THE CHURCHES TOGETHER SHOP** ## **BALANCE SHEET 31 DECEMBER 2021** |2021
Unrestricted
fund
Notes
£
**CURRENT ASSETS**
Cash at bank
47,926
**CREDITORS**
Amounts falling due within one year
8
(3,197)
**NET CURRENT ASSETS**
44,729
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
44,729
**NET ASSETS**
44,729
**FUNDS**
9
Unrestricted funds
44,729
**TOTAL FUNDS**
44,729|2020
Total
funds
£
45,597
(4,806)
40,791
40,791
40,791
40,791
40,791| |---|---| The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: ............................................. J A Henley - Trustee The notes form part of these financial statements -4- **THE CHURCHES TOGETHER SHOP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the incorporated charitable organisation, 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 are prepared on an accruals basis. The accounts are presented in £. ## **Income** Income is recognised in the Statement of Financial Activities once the charity is due the funds which in practical terms is when the funds have been received due to the nature of the charity's activities.. ## **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. ## **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. ## **Grants** Grants are recorded when received and credited to income in accordance with the performance requirements, if any, of the grant. ## **Cash at bank and in hand** Cash at bank and cash in hand includes cash and bank accounts. continued... -5- **THE CHURCHES TOGETHER SHOP** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021** |**2.**
**DONATIONS AND LEGACIES**
Grants
Grants received, included in the above, are as follows:
Other grants
**3.**
**OTHER TRADING ACTIVITIES**
Shop income
**4.**
**INVESTMENT INCOME**
Other participating interests
Deposit account interest
**5.**
**OTHER**
Support costs
**Other Costs**||2021
£
-
2021
£
-
2021
£
8,475
2021
£
-
8
8
2021
£
93|2020
£
25,000|2020
£
25,000| |---|---|---|---|---| ||||2020
£
25,000|| |||||2020
£
2,984| |||||2020
£
58
-| |||||58| |||||2020
£
-| |||||| Other costs include £3,780 refund for Electricity costs related to over charged costs in prior periods. ## **6. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020. continued... -6- **THE CHURCHES TOGETHER SHOP** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021** ## **7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |||||Unrestricted| |---|---|---|---|---| |||||fund| |||||£| ||**INCOME AND ENDOWMENTS FROM**|||| ||Donations and legacies|||25,000| ||Other trading activities|||2,984| ||Investment income|||58| ||**Total**|||28,042| ||**EXPENDITURE ON**|||| ||Raising funds|||7,763| ||**NET INCOME**|||20,279| ||**RECONCILIATION OF FUNDS**|||| ||**Total funds brought forward**|||20,512| ||**TOTAL FUNDS CARRIED FORWARD**|||40,791| |**8.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||| ||||2021|2020| ||||£|£| ||Other creditors||3,197|4,806| |**9.**|**MOVEMENT IN FUNDS**|||| ||||Net|| ||||movement|At| |||At 1.1.21|in funds|31.12.21| |||£|£|£| ||**Unrestricted funds**|||| ||General fund|40,791|3,938|44,729| ||**TOTAL FUNDS**|40,791|3,938|44,729| ||Net movement in funds, included in the above are as follows:|||| |||Incoming|Resources|Movement| |||resources|expended|in funds| |||£|£|£| ||**Unrestricted funds**|||| ||General fund|8,483|(4,545)|3,938| ||**TOTAL FUNDS**|8,483|(4,545)|3,938| continued... -7- **THE CHURCHES TOGETHER SHOP** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021** ## **9. MOVEMENT IN FUNDS - continued** ## **Comparatives for movement in funds** |||Net|| |---|---|---|---| |||movement|At| ||At 1.1.20|in funds|31.12.20| ||£|£|£| |**Unrestricted funds**|||| |General fund|20,512|20,279|40,791| |**TOTAL FUNDS**|20,512|20,279|40,791| |Comparative net movement in funds, included in the above are as follows:|||| ||Incoming|Resources|Movement| ||resources|expended|in funds| ||£|£|£| |**Unrestricted funds**|||| |General fund|28,042|(7,763)|20,279| |**TOTAL FUNDS**|28,042|(7,763)|20,279| A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|Net
movement
At
At 1.1.20
in funds
31.12.21
£
£
£
20,512
24,217
44,729
20,512
24,217
44,729| |---|---| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: ||Incoming|Resources|Movement| |---|---|---|---| ||resources|expended|in funds| ||£|£|£| |**Unrestricted funds**|||| |General fund|36,525|(12,308)|24,217| |**TOTAL FUNDS**|36,525|(12,308)|24,217| continued... -8- **THE CHURCHES TOGETHER SHOP** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021** ## **10. OTHER FINANCIAL COMMITMENTS** The company has rent commitments for its premises: Due within one year £4,500 Due between one and five years £5,625 ## **11. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 December 2021. -9- **THE CHURCHES TOGETHER SHOP** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021** |**INCOME AND ENDOWMENTS**
**Donations and legacies**
Grants
**Other trading activities**
Shop income
**Investment income**
Other participating interests
Deposit account interest
**Total incoming resources**
**EXPENDITURE**
**Raising donations and legacies**
Rates and water
Insurance
Light and heat
Postage and stationery
Shop Sundries
Repairs and renewals
Refuse and cleaning
Rent
Accountancy
**Support costs**
**Other 3**
Sundries
Total resources expended
**Net income**|2021
£
-
8,475
-
8
8
8,483
1,089
565
(3,780)
-
1,358
-
-
4,500
720
4,452
93
4,545
3,938|2020
£
25,000
2,984
58
-
58
28,042
(1,500)
517
(1,119)
78
441
280
91
7,775
1,200
7,763
-
7,763
20,279| |---|---|---| This page does not form part of the statutory financial statements -10-