## **NORTH CHURCH CIO**
## **(A CHARITABLE INCORPORATED ORGANISATION)**
## **FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED**
## **31 MARCH 2021**
**COMPANY NUMBER: CE019663 REGISTERED CHARITY NUMBER: 1186452**
**Cound & Co LLP Chartered Accountants 1 Princes Court Royal Way Loughborough Leics LE11 5XR**
**Tel: 01509 214163**
**NORTH CHURCH CIO**
**REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **CONTENTS**
|1|-|3|Report of the Church officers|
|---|---|---|---|
|4|||Independent Examiners’ Report|
|5|||Statement of Receipts and Payments|
|6|||Balance Sheet|
|7|-|10|Notes forming part of the financial statements.|
**- 1 –**
## **NORTH CHURCH CIO**
## **TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2021**
The trustees present their annual directors’ report together with the Financial Statements of the charity for the year ended 31 March 2021 which are also prepared to meet the requirements of the directors’ reports and accounts for Companies Act purposes.
The accounts comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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 (FRS102) (effective 1 January 2015).
## **1) Structure, Governance and Management**
The charity was registered as a Charitable Incorporated Organisation on 19[th] November 2019.
The management of the charity is the responsibility of the trustees who are elected under the terms of the governing document. New trustees are advised of their obligations under charity and company law.
Trustees are put forward by the membership for consideration. New suggested appointments are voted on at a members meeting in all instances.
The trustees determine the day to day operations of the charity or appoint appropriate officers to whom this responsibility is delegated.
## **2) Reference and Administration**
Trustees
Mr Peter James Petra (Chair) Mr Christopher Rimmer Dr Jonathan Woodrow Mr Andrew Snart
Company Registered Number
CE019663
Charity Registered Number
1186452
Registered Office
73 Border Drive Leicester LE4 2JN
Independent Examiners
Cound & Co LLP Chartered Accountants 1 Princes Court Royal Way Loughborough Leics LE11 5XR
**- 2 -**
## **NORTH CHURCH CIO**
## **TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2021**
## **2) Reference and Administration (continued)**
Bankers
NatWest 2 Melton Road Leicester LE4 5EA
## **3) Objectives and Activities**
The Objectives and Activities of the Trust are as follows:
- (A) The advancement of the Christian faith in accordance with the basis of faith primarily but not exclusively within Leicester and the surrounding towns and villages;
- (B) The relief of financial hardship among persons either generally or individually through the provision of grants, goods or services as the Trustees from time to time think fit; and
- (C) To advance the Christian faith for the benefit of the public in such charitable ways as the Trustees think fit from time to time.
We, as trustees, recognise that it is our legal obligation to ensure that the trust's activities are in line with our objectives and activities and we are satisfied that this is the case for the period in question. The trustees also confirm that they have had regard to the Charity Commission's guidance on public benefit.
## **4 Achievements and Performance**
## **Key Events**
The following activities have been conducted by the charity in the reporting period.
North Church CIO was formed as an independent charity on 19[th] November 2019 and appointed its first salaried pastor on that date. A member’s constitution has been formulated and the first members appointed.
One full time paid pastor has been appointed over this period who is also a Trustee and an Elder. This individual has enabled the charity to meet its objectives through promoting the Christian faith directly himself as an evangelist as well as preaching, pastoring and equipping and training others to do the same in support of the charity’s activities.
North Church does not own any buildings but has during this year, when allowed by Covid 19 restrictions, used the local youth centre for Sunday church services.
The Trust has paid for general resources for the charity to enable the church’s work of promoting the Christian faith. This includes buying new audio visual equipment, renting digital communications facilities to enable church services, members meeting and other meetings to be held on line and also paid for church publicity.
The Trust has paid money to CCLI, CCPAS and ICO and purchased insurance to enable it to legally and safely operate. COVID 19 restrictions curtailed many events and activities during the year but church services and other such meetings have been made available to the public both face to face and digitally.
During the year the Trust gave money to Christian Concern in support of its activities.
It has been possible to establish a sound footing for the charity by the formulation of many policies including those related to safeguarding, health and safety, conflicts of interest and expense control and reporting.
**- 3 -**
## **NORTH CHURCH CIO**
## **TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2021**
## **5) Financial Review**
The Trust had an income this financial year of £73,086 (£71,993 unrestricted and £1,893 restricted) and a total expenditure of £37,285 leading to a net gain of £35,801.
The Trust considers that this is a very strong position making it able to pursue its charitable aims in the future.
Finances are reviewed in detail each month by the Chairman of Trustees and quarterly by the trustees and members.
## **6) Reserves Policy**
The following is the reserves policy of the North Church CIO. The reserves of the trust are reported to the Chairman of trustees each month and quarterly to trustees and members. The reserves are assessed against previous income and expenditure and categorised as either green (the reserves will last for more than 12 months of normal operations), amber (the reserves will last for less than 12 months but more than 5 months or red (less than 5 months). Appropriate actions are assigned to each categorisation.
This report has been prepared having taken advantage of the small companies exemption in the Companies Act 2006.
Approved by the trustees on 15 December 2021 and signed on their behalf by:
…………………………………
Peter James Petra
**- 4 -**
## **INDEPENDENT EXAMINERS’ REPORT TO THE OFFICERS OF**
## **NORTH CHURCH CIO**
## **Independent Examiner's Report to the Officers of North Church Leicester**
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2020 which are set out on pages 6 to 11.
## **Responsibilities and basis of report**
As the charity’s trustees 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 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:
1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or
2. the accounts do not accord with those records
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.
## D R Gradon MA FCA
Cound & Co LLP Chartered Accountants 1 Princes Court Royal Way Loughborough Leics, LE11 5XR
15 December 2021
**- 5 -**
## **NORTH CHURCH CIO**
## **STATEMENT OF FINANCIAL ACTIVITES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
|Unrestricted
Restricted
Fund
Fund
Note
2021
2021
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
2
71193
1893
______
______
**TOTAL INCOME**
71193
1893
______
______
**EXPENDITURE ON:**
Charitable activities
3
36681
604
______
______
**TOTAL EXPENDITURE**
36681
604
______
______
**NET INCOME (EXPENDITURE)**
34512
1289
**TRANSFERS BETWEEN FUNDS**
11
-
-
_____
_____
**NET MOVEMENT IN FUNDS**
34512
1289
**RECONCILIATION OF FUNDS:**
Total funds brought forward
-
-
______
______
**TOTAL FUNDS CARRIED FORWARD**
11
34512
1289
______
______|Total
Funds
2021
73086
______
£73086
______|
|---|---|
||37285
______|
||£37285
______|
||35801
-
______
35801
-
______
£35801
______|
**- 6 -**
## **NORTH CHURCH CIO**
## **BALANCE SHEET AS AT 31 MARCH 2021**
|FIXED ASSETS
Tangible Assets
CURRENT ASSETS
Debtors
Cash at Bank and in Hand
Liabilities – Creditors falling due within one year
NET CURRENT ASSETS
NET ASSETS
THE FUNDS OF THE CHARITY:
Unrestricted Funds
Restricted Fund|Notes
5
6
7
8
8|31 March 2021
6786
29341
______
36137
______
720
_____|384
35417
______
£35801
______|
|---|---|---|---|
||||34512
1289
£35801
______|
These financial statements were approved by the trustees on 15 December 2021 and signed on its behalf by
………………………………… Peter James Petra Trustee
**- 7 -**
## **NORTH CHURCH CIO**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## 1 ACCOUNTING POLICIES
## a) Basis of Preparation of Financial Statements
These financial statements 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 FRS102 the Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS102”) (effective 1 January 2016)’, FRS102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (effective September 2016), and the Charities Act 2011. The disclosure requirements of Section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.
The charity constitutes a public benefit entity under FRS102.
Assets and liabilities are initially recognised at historical cost or transactional value unless otherwise stated in the relevant accounting policy note and the financial statements are prepared on a going concern basis. The financial statements are prepared in sterling, which is the financial currency of the charity and rounded to the nearest £1.
## b) Company Status
The North Church CIO was registered as a charitable incorporated organisation on 19 November 2019 and is governed by a constitution dated 19 November 2019 and registered with the Charity Commission under charity number 1186452.
## c) Fund Accounting
Undesignated general funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The aim of each restricted fund is set out in the notes to the financial statements.
## d) Incoming Resources
All incoming resources are included in the SOFA when the charity is legally entitled to the income after performance conditions have been met, the amount can be measured reasonably and it is probable that the income will be received. No amount included in the financial statements for volunteer time in line with SORP (FRS102).
## e) Resources Expended
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the church to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attached are fulfilled.
## f) Tangible Fixed Assets and Depreciation
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life as follows:
Computer/AV Equipment - 25% straight line basis
**- 8 -**
## **NORTH CHURCH CIO**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## 2 DONATIONS AND LEGACIES
|2|DONATIONS AND LEGACIES|||
|---|---|---|---|
|3|Unrestricted
Restricted
Funds
Funds
2021
2021
Donations
71193
1893
______
_____
EXPENDITURE ON CHARITABLE ACTIVITIES
Unrestricted
Restricted
Funds
Funds
2021
2021
Grants to institutions
1294
-
Ministry expenses
75
2
Event expenses
-
-
Outreach expenses
1079
-
Premises costs
50
-
Administration costs
813
602
Sundry
-
-
Wages and salaries
31414
-
Accountancy fees
820
-
Depreciation
127
-
Training Costs
1009
-
______
_____
36681
604
______
_____|Total
2021
£73086
______|Total
2021|
|||Total
2021
1294
77
-
1079
50
1415
-
31414
820
127
1009
______
£37285
______||
## 4 STAFF COSTS
|Wages and salaries
National insurance
Less: Employment Allowance
Pension Contributions
Average number of employees
The following trustees received remuneration during the year.
Peter Petra|2021
30499
2997
(2997)
915
______
£31414
______
1
___
2021
£30499
______|
|---|---|
**- 9 -**
## **NORTH CHURCH CIO**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## 4 STAFF COSTS (cont’d)
Peter Petra received remuneration for his role as a pastor to the Church, not for his role as a trustee.
1 trustee was accruing retirement benefits during the period. No employee received remuneration in excess of £60,000 during the period. The contributions are to a defined contribution pension scheme. The contributions in the year were £915.
|5
6|FIXED ASSETS
Computer/AV
Tangible Assets
Equipment
Cost
Additions
511
_____
At 31 March 2021
511
_____
Depreciation
Charge for the Year
127
_____
At 31 March 2021
127
_____
Net Book Value
At 31 March 2021
384
_____
DEBTORS– All receivable within one year
Trade Debtors
Gift aid reclaimable
Prepayments
Pension Contributions|
|Total|
|---|---|---|---|
||||511
_____
511
_____|
|||
|127
_____
127
_____|
||||384
_____|
|||2021
-
6341
277
178
_____
£6796
_____|2021|
|7|CREDITORS– Amounts falling due within one year
Accruals|_
_|2021
720
____
£720
____|
|---|---|---|---|
**- 10 -**
## **NORTH CHURCH CIO**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## 8 STATEMENT OF FUNDS
|STATEMENT OF FUNDS||||
|---|---|---|---|
|Unrestricted Funds
Restricted Funds
Total Funds
Restricted Funds are represented by:
Leicester City council
AV Equipment|Income
71193
1893
______
73088
______
Income
500
1393
______
1893
______|Expenditure
(36681)
(604)
______
(37285)
______
Expenditure
-
(604)
______
(604)
______|At 31 March
Transfers
2021
-
34512
-
1289
_____
______
-
£35801
______
______
C/Fwd at
31 March
Transfers
2021
-
500
-
789
_____
______
-
1289
______
______|
|||||
The donation from Leicester City Council was for Covid related expenditure.
Donations were received for the purchase of audio visual equipment for use by the church.
## 9 ANALYSIS OF NET ASSETS BETWEEN FUNDS
|Unrestricted
Restricted
Funds
Funds
Fund balances at 31 March 2021 are represented by:
Fixed Assets
384
-
Current Assets
34848
1289
Current Liabilities
(720)
-
______
______
Total Net Assets
34512
1289
______
______|_
_|Total
Funds
384
36137
(720)
_____
35801
_____|
|---|---|---|