2021-08-31-accounts - Abbey Church CIO

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ABBEY CHURCH CIO TRUSTEES’ ANNUAL REPORT AND

FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2021

Registered Charity Number: 1184604

ABBEY CHURCH CIO FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2021

CONTENTS	PAGE
Reference and administration details	1
Structure, Governance & Management	2-3
Objectives and Activities	3-4
Achievements and Performance	4-5
Financial Review	5-6
Statement of Trustees Responsibilities	7
Independent Examiner’s Report	8
Statement of Financial Activities	9
Balance Sheet	10
Notes to the Financial Statements	11-16

ABBEY CHURCH CIO REFERENCE AND ADMINISTRATIVE INFORMATION YEAR ENDED 31 AUGUST 2021

Status

Abbey Church CIO is a Registered Charity, No 1184604 having been registered on 25 July 2019 as a Charitable Incorporated Organisation; it is governed by its Constitution dated 19 June 2019. Previous to 25 July 2019 Abbey Church was part of a Charitable Company, Hillview Evangelical Church [Charity Number 1115938; Company Registration Number 5899178] having been a church plant by Hillview Church in September 1999. Initially it was part of the then Hillview Evangelical Church Trust before Incorporation on 29 August 2006.

The Trustees are pleased to present this, the second report and annual accounts for the reporting period of the Charity from 1 September 2020 to 31 August 2021. The report includes the information required by the Charity SORP FRS102 as a Charity registered in England and Wales.

Trustees

The Trustees who served during the year and since the year end were as follows:

Mark Bashford	Elder of Abbey Church – Resigned as Chair on 17 March 2022	Elder of Abbey Church – Resigned as Chair on 17 March 2022
Andrew Conlan	Elder of Abbey Church	Resigned 30 September 2020
Philip Ricketts	Finance Team
Patricia Murphy	Appointed as Chair on 17 March 2022	Appointed 5 December 2019
David Wallace		Appointed 5 December 2019
David Bradford		Appointed 5 December 2019
Linda Griffiths		Resigned 4 March 2021

Charity's principal address

15 The Chase Abbeydale Gloucester GL4 4WP Agents and Advisors Independent examiner: Joshua Kingston BSc. ACA, Burton Sweet Limited Chartered Accountants, The Clock Tower, 5 Farleigh Court, Old Weston Road, Flax Bourton, Bristol, BS48 1UR Bankers: CAF Bank Ltd, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4JQ Solicitors: Ellis-Fermor & Negus Limited, 2 Devonshire Ave, Beeston, Nottingham, NG9 1BS

ABBEY CHURCH CIO TRUSTEES ANNUAL REPORT YEAR ENDED 31 AUGUST 2021

STRUCTURE, GOVERNANCE & MANAGEMENT

Organisational Structure

During the year the board of Trustees reduced in number from the initial seven to a current total of six, as stated on page 1, due to the resignation of Linda Griffiths. This initiated a Trustee Skills Audit to help assess the needs of the board in terms of both numbers and skills. Whilst the present arrangements are satisfactory, further consideration may well lead to the appointment of additional Trustees.

The day-to-day management and leadership of Abbey Church is delegated to a team of Elders who are responsible for providing the leadership to the Church in seeking to achieve the aims of the Charity. At the start of the financial year there was a team of five, two of which were Trustees, as shown on page 1. However, this reduced to a team of four with the retirement of Andrew Conlan from his part-time employed role; he has since been replaced by Graham Dancy, one of the existing Elders, succeeding him.

During the year the Trustees met four times [3 – Ordinary General Meetings and 1 – Extraordinary General Meeting] to oversee key aspects of the Charity’s operation. Minutes are kept of all meetings of Trustees and were submitted to Burton Sweet for scrutiny, as required.

The Church is structured to operate with five main Ministry Teams to develop, plan and fulfil its programme of activities and events in seeking to achieve the aims and objects of the Charity. These are the Sunday [Church] Team, Neighbourhood Team, World Vision Team, Pastoral Care Team and Community Groups Team. In addition the Charity also employs a full-time Youth Worker and a part-time Church Administrator.

Finally, there is also a Finance Team responsible for the financial controls of the activities of the Church. It produces regular management accounts for the Charity and reports to the Trustees at their meetings concerning all financial aspects of the operation of the Charity. The Finance Team also proposes the annual budget following consultation with the leadership of the Church, and it is then approved by Trustees. The committee maintains close supervision of the income and expenditure account, as well as capital expenditure items.

Appointment of Trustees

Trustees are normally recruited from persons known to the Trustees. Prior to appointment, potential Trustees are given opportunity to attend a Trustees’ meeting to observe the working of the charity, along with opportunities to discuss their potential involvement more fully. The charity provides every Trustee with an induction pack, which details their legal responsibilities and provides key policies.

Networks and other relationships

Abbey Church has links with national organisations such as Christian Concern, CAP [Christians Against Poverty], Counties UK [Neighbourhood Chaplains], Association of Christian Counsellors, Partnership UK, as well as with international relief agencies, such as Tearfund, Samaritan’s Purse,

ABBEY CHURCH CIO TRUSTEES ANNUAL REPORT YEAR ENDED 31 AUGUST 2021

and Open Doors. Abbey Church also works locally with other churches, schools and groups in the community.

The Charity uses the services of ThirtyOne: Eight, formerly known as CCPAS [Churches’ Child Protection Advisory Service] for advice, support, training and resources in all areas of safeguarding children and vulnerable adults, including DBS disclosures.

Risk Management

At the outset of preparing to establish Abbey Church CIO and separate from the Hillview Charity, it was agreed between the two parties that all the policies, procedures and risk assessments current at the time would be made available to Abbey Church CIO for adoption, as appropriate, by Abbey Church CIO.

During the reporting period the Trustees have endeavoured to review and update the above policies to be more specifically relevant to Abbey Church CIO. Initially priority was given to policies for Conflicts of Interest, Safeguarding and Anti Bribery and Corruption. Since then consideration has been; and continues to be given to others, e.g. Ethos Statement, Data Protection [GDPR], Diversity and Equality, Health and Safety, Finance and Reserves.

The arrangements put in place have enabled the Safeguarding requirements to be met. The Trustees have also sought to ensure that their duties under GDPR are being properly discharged. They also confirm that they have referred to the guidance contained in the Charity Commission's guidelines on public benefit when reviewing the Charity’s aims and objects and in planning future activities.

OBJECTIVES AND ACTIVITIES

The objects of Abbey Church CIO is to advance the Christian faith, according to the statement of beliefs and practices of Abbey Church for the public benefit in Gloucester and in such other parts of the United Kingdom or the world as the charity Trustees think fit.

Abbey Church CIO is a registered charity that oversees the work of Abbey Church, a plant from Hillview Church in Gloucester. The church was first established in 1999 and between then and the formation of Abbey Church CIO, the charity came under the governance of the Charity Company “Hillview Evangelical Church” (HECCo).

As the Church grew it became clear to the leadership of both Churches that it was time for a new charity to be formed to oversee and focus on the work of Abbey Church. Whilst the relationship continues between the two churches, and now separate charities, with each having similar visions and objectives, they now have the flexibility to operate independently, particularly with the use of assets in the development of the work of both charities.

ABBEY CHURCH CIO TRUSTEES ANNUAL REPORT YEAR ENDED 31 AUGUST 2021

The activities of the Charity continue within the same broad aims as when it operated under HECCo, seeking to contribute, as appropriate, to the spiritual, physical, social and educational needs of the Abbey Church community, focused on the communities of Abbeymead and Abbeydale in the city of Gloucester. These aim to cater for all age groups from Parent and Toddlers to Senior Citizens. Through its mission support programmes it also seeks to further its objects beyond the immediate communities where Abbey Church operates to other parts of the UK and overseas; this includes Moldova by virtue of grants being paid through a European Bank [See Financial Statements : Note 5 – Analysis of Grants : Moldova Orphanage].

Examples of the current work can be seen on the website www.abbeychurch.net . Each of the ministries of the Church are reviewed regularly to ensure the services and activities are effective in connecting with our community. We continue to grow both in new people attending, particularly at the Sunday morning service, as well as in the development of Church members; training up and developing church members to serve in a greater way.

Typically, there are in the region of 100 adults plus children and young people for Abbey Church on a Sunday service. As with any church of the type of Abbey, the viability and sustainability of their programmes is almost entirely dependent upon members who give voluntarily and consistently of their time. The wide range of gifts and abilities available combine to produce a volunteer workforce that is effective in contributing to the life of the church, enabling it to achieve the Objects of the Charity. We are extremely grateful to all those who are involved in the church in that way. It is estimated that the value of their contribution in 2019-20, if employed, would have been in the order of £100k based on the national minimum wage.

ACHIEVEMENTS AND PERFORMANCE

The use of local halls including Heron School a primary school within Abbeydale and Abbeydale Community Centre, allows the Church both to meet on Sunday and host other events for Children, families and Youth.

This includes our children’s clubs, 6:15 Club and Friday Fun Football (running on alternate weeks in term time), which in addition to games, sport, crafts etc. allow us the opportunity to teach children from the neighbourhood Christian values and biblical principles. These continue to grow in popularity, along with groups such as, Abbey Tots (mother and toddler group) and Abbey Baby Club (support for new mums). These activities serve as an outreach to families in the area and allow us opportunities to engage with, and support families that would otherwise never connect with Church.

Community engagement pastorally is growing and the work of the Neighbourhood Chaplains team continues; the team along with others in the church have been actively engaged in support for families in the area who quality for ‘Free School Meals’, working alongside the local authority as part of the HAF programme to offer food and activities for families.

ABBEY CHURCH CIO TRUSTEES ANNUAL REPORT YEAR ENDED 31 AUGUST 2021

A number of Christianity Explored and Discipleship Explored courses have been held both in person and virtually, with many joining the church. The Church is encouraged by this growth both in numbers and spiritually with eight adult baptisms being held during the year and two membership courses.

During the reporting period of 2020/21 the Church has continued to adapt considerably to the challenging times as a result of the Coronavirus Pandemic. This includes the use of alternative facilities as we came back to meeting for worship in person, alongside the use of Zoom to connect others to the meetings. The use of this technology will continue to allow those having to isolate or who cannot physically be at the meetings due to sickness or infirmities to continue to connect to the meeting virtually.

FINANCIAL REVIEW

Reserves Policy

The Trustees have considered a Reserves Policy for Abbey Church CIO and established that the Charity should hold free reserves of at least £25,000, or the equivalent of at least 3 months of the essential operating costs of the Charity.

Free reserves are defined as unrestricted or general funds held by the Charity but not committed or invested in tangible fixed assets. This level of free reserves gives the Trustees and Leaders the opportunity and time to make appropriate decisions to rectify the situation should unexpected costs arise or a material drop in income occur.

The free reserves held at the period-end are £219,066. The level of reserves compared to operating expenditure is due to the intention of the Charity to undertake building work, the cost of which is likely to exceed significantly the level of reserves held.

Financial Review

The financial statements show that in the second financial period of its operation the total income of the Charity was £120,269. As will be seen from Note 2, the majority of this was from General Offerings amounted to £89,144 with associated income from tax refunds (Gift Aid) of £14,371; this would indicate that some 65% of the general offerings were donated in a tax-efficient manner. The balance of total income came from Grants amounting to £10,214.

With a total expenditure of £107,729 the resulting net income for the financial year is £12,450.

In considering the expenditure on charitable activities it can be seen from Note 4, that overall about 92% was actually activity-related with about 8% related to support costs. In addition, it can also be seen that Grants of £10,145 were made for Christian work; this can be seen in greater detail in Note 5 where there is an analysis of these grants. It is the aim of the Charity to make grants equating to about 10% of the combined total of general offerings [unrestricted] and associated income from tax refunds (Gift Aid); from Note 2 this can be seen to be £91,515 – the additional expenditure was due to a special grant for The Well Project [TSCF NZ Inc].

ABBEY CHURCH CIO TRUSTEES ANNUAL REPORT YEAR ENDED 31 AUGUST 2021

In summary, Note 14 shows the free reserves of the Charity as at 31 August 2021 to be £219,066 – these are all stated as Unrestricted Funds.

The second reporting period of the Charity continued to be a particularly challenging one; not only due to the inevitable unexpected challenges in its operation, but also those presented by the ongoing pandemic. The Trustees are therefore both pleased, grateful and encouraged that the ‘operating income’ from general offerings, income tax refunds (Gift Aid) etc has not only been maintained, but marginally increased. Expenditure on charitable activities was also contained within the ‘operational income’ for there to be an ‘operational surplus’ of £12,450.

Restricted Fund [See also Note 16]

In the arrangements for the divisions of assets agreed between Hillview Evangelical Church (Charitable Company) and Abbey Church CIO there was a balance remaining from the Restricted Fund intended for a building project that will not now proceed. This amounts to £29,320 and is being retained by Hillview until such time as the fund can become Unrestricted. Some progress has been made on this but further work needs to be done in consultation with the Charity Commission.

ABBEY CHURCH CIO TRUSTEES ANNUAL REPORT YEAR ENDED 31 AUGUST 2021

Statement of Trustees’ responsibilities

The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales 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 income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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 sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and 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/constitution. 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 the Trustees and signed on their behalf by:

……………………………..

Date: 29[th] April 2022

Patricia Murphy (Chair of Trustees)

ABBEY CHURCH CIO INDEPENDENT EXAMINER’S REPORT YEAR ENDED 31 AUGUST 2021

Independent examiner’s report to the Trustees of Abbey Church CIO

I report to the Trustees on my examination of the accounts of Abbey Church CIO (the Charity) for the period ended 31 August 2021.

Responsibilities and basis of report

As the charity Trustees of the Charity 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 Charity’s accounts carried out under section 145 of the 2011 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 in connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
the accounts do not accord with those records; or
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.

Joshua Kingston BSc. ACA Burton Sweet Limited Chartered Accountants The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR

Date: 29[th] April 2022

ABBEY CHURCH CIO

STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 AUGUST 2021

Unrestricted Funds £ 101,729 4,988 1,552	Restricted Funds £ 12,000 - -	Year ended 31 Aug 2021 £ 113,729 4,988 1,552	13 months to 31 Aug 2020 £ 301,142 2,124 960
108,269	12,000	120,269	304,226
95,729	12,000	107,729	97,700
95,729	12,000	107,729	97,700
12,540 -	- -	12,540 -	206,526 -
12,540 206,526	- -	12,540 206,526	206,526 -
219,066	-	219,066	206,526

The charity has no recognised gains and losses other than the results for the year as set out above

All of the activities of the charity are classed as continuing

See prior period fund comparatives in note 9 The notes on pages 11 to 16 form part of these financial statements

ABBEY CHURCH CIO

BALANCE SHEET

AS AT 31 AUGUST 2021

Note Current assets Debtors 11 Cash at bank and in hand Creditors : Amounts falling due within one year 12 Net current assets Net assets Funds Unrestricted funds 14	As at 31 Aug 2021 £ 5,547 217,206 222,753 (3,687) 219,066 219,066 219,066 219,066	As at 31 Aug 2020 £ 4,044 204,342
		208,386 (1,860)
		206,526
		206,526
		206,526
		206,526

These financial statements were approved by the trustees on 29th April 2022 and are signed on their behalf by:

……………………………………… Patricia Murphy (Chair of Trustees)

……………………………………… Philip Ricketts (Trustee; Finance Team)

The notes on pages 11 to 16 form part of these financial statements

ABBEY CHURCH CIO

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2021

1 Accounting policies

a) The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following 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) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The charity is a public benefit entity as defined under FRS102.

There are no material uncertainties about the Charity’s ability to continue as a going concern, despite the significant uncertainty being caused by the worldwide COVID-19 crisis. Whilst the Trustees expect there to be a significant impact on the charity’s operations our current operations have very little cost liabilities, with any additional costs caused in making adjustments to operations being minor. It is also recognised that the charity has sufficient reserves to be able to meet these challenges.

b) Income from donations are included when these are receivable, except as follows:
i) When donors specify that donations given to the charity must be used in future accounting periods, the income is deferred until those periods.

ii) When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred until the pre-conditions have been met.

Legacies are recognised when the charity is legally entitled to the legacy and the amount can be quantified with reasonable accuracy. Entitlement is regarded as the earlier of the charity being notified of an impending distribution or the legacy being received.

c) Expenditure is recognised in the period in which it is incurred. Expenditure includes attributable VAT which cannot be recovered.

Most expenditure is directly attributable to specific activities and has been included in those cost categories. Support costs have been allocated 100% towards the charitable activities of the charity.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examination fees and costs linked to the strategic management of the charity. Governance costs are included within support costs.

d) Rentals applicable to operating lease agreements where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight-line basis over the period of the lease.
e) Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
f) Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
g) Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.
h) Unrestricted funds can be used in accordance with the charitable objects at the discretion of the Trustees.
i) 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.

ABBEY CHURCH CIO

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2021

2 Donations and legacies

General offerings Grants Income tax refunds Prior Year Comparative Donation from Hillview Evangelical Church General offerings Grants Income tax refunds Legacies Income from: charitable activities Event income	Unrestricted Funds £ 77,144 10,214 14,371	Restricted Funds £ 12,000 - -	Year ended 31 Aug 2021 £ 89,144 10,214 14,371 113,729 13 months to 31 Aug 2020 £ 201,717 77,854 8,004 12,117 1,450 301,142 Year ended 13 months to 31 Aug 2021 31 Aug 2020 £ £ 4,988 2,124 4,988 2,124
	101,729	12,000
	Unrestricted Funds £ 201,717 74,854 8,004 12,117 1,450	Restricted Funds £ - 3,000 - - -
	298,142	3,000
	Unrestricted Funds £ 4,988	Restricted Funds £ -
	4,988	-

3 Income from: charitable activities

Prior Year Comparatives were all represented by unrestricted funds

4 Expenditure on: charitable activities

Grants for Christian work (see note 5) Church workers Ministry costs Training Event expenses Support costs Safeguarding costs Insurance Printing, postage and stationery Accountancy fees Fees and Subscriptions Equipment Miscellaneous Governance costs (see note 6)	Unrestricted Funds £ 10,145 52,817 3,924 590 19,580 296 597 241 173 1,177 4,096 233 1,860	Restricted Funds £ - - 12,000 - - - - - - - - - -	Year ended 31 Aug 2021 £ 10,145 52,817 15,924 590 19,580 296 597 241 173 1,177 4,096 233 1,860	13 months to 31 Aug 2020 £ 8,456 58,905 6,358 885 16,238 738 574 354 1,405 40 814 1,073 1,860
	95,729	12,000	107,729	97,700

The only restricted expenditure on charitable activities in 2020 was £3,000 in Ministry costs

ABBEY CHURCH CIO

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2021

5 Analysis of Grants

Analysis of Grants	Analysis of Grants
To Institutions Gloucester City Mission Echoes International Armonia Trust UK Ambassadors Football Ifes Trust Friends of Turkey Open doors Echoes International [Giovanni and Hannah Donato] Frontiers Moldova Orphanage [Anatolli and Corinne Natic-Anbeek] TSCF NZ Inc [The Well] To Individuals AJ & EJ Patching Hannah Coggins Governance costs Unrestricted Funds £ Independent examiner's fees 1,860 1,860 Net income/(expenditure) This is stated after charging Independent Examiner's fee: - for Independent Examination - for Accounts Preparation Staff costs and numbers The aggregate staff costs were Wages and salaries Social security costs Pension costs		Restricted Funds £ -	Year ended 31 Aug 2021 £ 1,200 - 880 1,380 890 1,700 875 890 500 380 1,200 - 250	13 months to 31 Aug 2020 £ 1,200 516 1,030 1,380 780 1,100 300 390 500 500 - 260 500
			10,145	8,456
			Year ended 31 Aug 2021 £ 1,860	13 months to 31 Aug 2020 £ 1,860
	1,860	-	1,860	1,860
			Year ended 31 Aug 2021 £ 660 1,200	13 months to 31 Aug 2020 £ 660 1,200
			Year ended 31 Aug 2021 £ 48,241 - 4,207	13 months to 31 Aug 2020 £ 52,465 641 2,756
			52,448	55,862

6 Governance costs

7 Net income/(expenditure)

8 Staff costs and numbers

ABBEY CHURCH CIO

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2021

8 Staff costs and numbers (continued)

No staff received employment benefits of more than £60,000.

The average number of staff (headcount) during the year was 3 (2020: 3).

The total aggregate employment benefits received by key management personnel were £33,522. (2020: £21,477). Aggregate donations from Trustees, key management personnel and other related parties were £24,710 (2020: £20,735).

No expenses were paid to trustees during the current or prior year.

9 Comparative Statement of Financial Activities

Unrestricted Funds £ 298,142 2,124 960	Restricted Funds £ 3,000 - -	13 months to 31 Aug 2020 £ 301,142 2,124 960
301,226	3,000	304,226
94,700	3,000	97,700
94,700	3,000	97,700
206,526 -	- -	206,526 -
206,526	-	206,526

10 Taxation

The charity is exempt from corporation tax on its charitable activities.

11 Debtors

Other debtors 12 Creditors: amounts falling due within one year Accruals Other creditors	31 Aug 2021 £ 5,547	31 Aug 2020 £ 4,044
	5,547	4,044
	31 Aug 2021 £ 1,860 1,827	31 Aug 2020 £ 1,860 -
	3,687	1,860

ABBEY CHURCH CIO

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2021

13 Movements in funds

As at 1 Sept 2020 £ - 206,526	Income £ 12,000 108,269	Expenditure £ (12,000) (95,729)	Transfers £ - -	As at 31 Aug 2021 £ - 219,066
206,526	120,269	(107,729)	-	219,066
As at 25 July 2019 £ - -	Income £ 3,000 301,226	Expenditure £ (3,000) (94,700)	Transfers £ - -	As at 31 Aug 2020 £ - 206,526
-	304,226	(97,700)	-	206,526

Educational Fund

The purpose of this fund is to support education of biblical studies.

14 Analysis of net assets between funds

As at 31 August 2021 Unrestricted Funds General funds Total funds Prior Year Comparative As at 31 August 2020 Unrestricted Funds General funds Total funds	£ 219,066 Other Net Assets	Total £ 219,066
	219,066	219,066
	£ 206,526 Other Net Assets	Total £ 206,526
	206,526	206,526

15 Related party transactions

During the year Andrew Conlan, a trustee, received remuneration of £1,555 (2020: £18,466) and pension contributions of £140 (2020: £1,662) for the part-time Church Leader role.

Mark Bashford and David Bradford, trustees and related parties, received payments of £600 (2020: £700) and £400 (2020: £100) respectively for speaking services at Abbey Church.

These payments are permitted under the Memorandum & Articles of Association.

There are no other related party transactions apart from those already disclosed.

ABBEY CHURCH CIO

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2021

16 Donation of assets and liabilities

On 1 September 2019, the Trustees of Hillview Evangelical Church, charitable company (registration number: 05899178) moved the trade and assets of the Abbey Church into the newly constituted CIO. The impact of this event has been that Abbey Church CIO was gifted an agreed sum of £201,717 of the Abbey Church assets at that date.

The carrying values of the assets and funds transferred were:

Net Assets: Cash in hand and on deposit Funds: Unrestricted general funds	£ 201,717
	201,717

The total asset transfer amounts to £231,037, the difference of £29,320 relates to a restricted fund. Hillview Evangelical has applied for the fund to be derestricted by the Charity Commission. The funds will be transferred to Abbey Church CIO once this process has been approved.