DocuSign Envelope ID: 92C6E9CF-2CA4-4587-8CD8-2147EBDF0D27
REGISTERED IN ENGLAND REGISTERED CHARITY NO 1188240
FAITH CHURCH FAKENHAM
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
Clenshaw Minns Ltd Chartered Accountants
DocuSign Envelope ID: 92C6E9CF-2CA4-4587-8CD8-2147EBDF0D27
FAITH CHURCH FAKENHAM
INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2022
| Trustees | Darren Waterfield (Chair) |
|---|---|
| Paul Lorrimore | |
| Frederick Sibbons | |
| Andrew Osborne | |
| Charity number | 1188240 |
| Principal address | Unit 8 |
| Millers Close | |
| Fakenham | |
| Norfolk | |
| NR21 8NW | |
| Accountants | Clenshaw Minns Ltd |
| Chartered Accountants | |
| Norfolk House | |
| 24 Market Place | |
| Swaffham | |
| Norfolk | |
| PE37 7QH |
DocuSign Envelope ID: 92C6E9CF-2CA4-4587-8CD8-2147EBDF0D27
FAITH CHURCH FAKENHAM
CONTENTS
| Page | |
|---|---|
| Trustees’ annual report | 1-2 |
| Independent examiner’s report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6-8 |
DocuSign Envelope ID: 92C6E9CF-2CA4-4587-8CD8-2147EBDF0D27
FAITH CHURCH FAKENHAM
TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022
OBJECTIVES AND ACTIVITIES
Aims & Objectives
The advancement of the Christian faith for the benefit of the public. This includes, but not exclusively, preaching, teaching and education; to provide care and support to those facing need, hardship, or distress.
Main activities for achieving objectives
-
Christian services and meetings
-
Community events
-
Special ministry to those in need
-
Children, youth, and family support
ACHIEVEMENTS AND PERFORMANCE
During the year we continued with several activities designed to raise awareness of the Christian faith. This included several outreaches within Fakenham town centre, advertising in the local press, live streaming of services and meetings online and the addition of an advertising board at the entrance to the industrial estate.
We continued with live streaming our services and meetings online, this has proved of significant benefit to the congregation and also in attracting new congregants. We have also been able to use this technology to hold hybrid online/in person mid-week meetings enabling those who are unable to attend church due to family commitments to be able to join in.
The number of church attendees increased significantly during the last year with a large growth in the congregation across all age groups. The focus on Christian discipleship, spiritual development and pastoral support has also resulted in more frequent and regular attendance. We saw a big increase in the number of families with children attending and as a result we invested in a new TV and equipment for the children’s ministry room.
From a financial perspective, as a direct result of growth in attendance we have seen giving up 32% on the previous year.
The model of local outreach and Christian discipleship has proven successful over the last year and will be continued and reviewed.
FINANCIAL REVIEW
Reserves policy
At the year ending 31 December 2022, the Charity has reserves totalling £17,842. A certain amount of working capital is kept in the current account for meeting regular financial commitments.
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DocuSign Envelope ID: 92C6E9CF-2CA4-4587-8CD8-2147EBDF0D27
FAITH CHURCH FAKENHAM
TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT
Constitution
Faith Church Fakenham is a Charitable Incorporated Organisation (CIO), number 1188240.
PLANS FOR THE FUTURE
Future developments
The Charity plans for continue its activities for the foreseeable future.
The focus on the stability of the church is a key priority, new members are being added and the focus on spiritual discipleship, fellowship and ensuring that new people are knitted into the family of the church is key to our future growth.
We will continue outreach activities in the town centre and also online.
DECLARATION
The Trustees declare that they have approved the above trustees’ report.
Signed on behalf of the charity’s trustees:
| Signature(s) Full name(s) Position (e.g. Secretary, Chair, etc) Date |
|
|---|---|
| Darren Paul Waterfield Paul William Lorrimore |
|
| 17-10-2023 Trustee |
|
| 17-10-2023 | |
| 17-10-2023 |
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DocuSign Envelope ID: 92C6E9CF-2CA4-4587-8CD8-2147EBDF0D27
FAITH CHURCH FAKENHAM
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 December 2022
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2022 which are set out on pages 4 to 8.
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:
-
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.
……………………….. Date ………………
Gavin Minns
Chartered Accountant
Clenshaw Minns Ltd Chartered Accountants Norfolk House 24 Market Place Swaffham Norfolk PE37 7QH
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DocuSign Envelope ID: 92C6E9CF-2CA4-4587-8CD8-2147EBDF0D27
FAITH CHURCH FAKENHAM
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 December 2022
| Total | Total | ||
|---|---|---|---|
| Unrestricted | funds | funds | |
| funds | 2022 | 2021 | |
| £ | £ | £ | |
| Income: | |||
| Donations | 21,299 | 21,299 | 16,061 |
| _ | _ | _ | |
| Total incoming resources | 21,299 | 21,299 | 16,061 |
| _ | _ | _ | |
| Expenditure | |||
| Supportive gifts | 4,200 | 4,200 | 3,650 |
| Rent and service charges | 8,872 | 8,872 | 9,364 |
| Equipment and maintenance | 557 | 557 | 362 |
| Website and email costs | 697 | 697 | 1,348 |
| Advertising | 1,097 | 1,097 | - |
| Accountancy | 402 | 402 | 354 |
| Legal & Professional fees | 268 | 268 | - |
| Insurance | 480 | 480 | 457 |
| Sundry expenses | 819 | 819 | 418 |
| Depreciation | 812 | 812 | 793 |
| _ | _ | _ | |
| Total resources expended | 18,204 | 18,204 | 16,746 |
| _ | _ | _ | |
| Net income/(expenditure) | 3,095 | 3,095 | (685) |
| ______ | _ | _ | |
| Net movement in funds | 3,095 | 3,095 | (685) |
| Total funds brought forward | 14,747 | 14,747 | 15,432 |
| _____ | ______ | ______ | |
| Total funds carried forward | 17,842 | 17,842 | 14,747 |
| ===== | ===== | ===== |
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DocuSign Envelope ID: 92C6E9CF-2CA4-4587-8CD8-2147EBDF0D27
FAITH CHURCH FAKENHAM
BALANCE SHEET AS AT 31 DECEMBER 2022
| Total | Total | |||
|---|---|---|---|---|
| Unrestricted | funds | funds | ||
| funds | 2022 | 2021 | ||
| Notes | £ | £ | £ | |
| Fixed assets | ||||
| Tangible assets | 2 | 2,436 | 2,436 | 2,379 |
| Current assets | ||||
| Cash at bank and in hand | 3 | 14,034 | 14,034 | 10,978 |
| Rent deposit | 1,750 | 1,750 | 1,750 | |
| _ | ______ | ______ | ||
| 18,220 | 18,220 | 15,107 | ||
| Creditors: amounts falling | ||||
| due within one year | ||||
| Accruals | 4 | 378 | 378 | 360 |
| ______ | _____ | _____ | ||
| Net current assets | 17,842 | 17,842 | 14,747 | |
| ______ | ______ | _____ | ||
| Total assets less current liabilities | 17,842 | 17,842 | 14,747 | |
| Total net assets | 5 | 17,842 | 17,842 | 14,747 |
| ===== | ===== | ===== | ||
| Total charity funds | ||||
| Unrestricted funds | 6 | 17,842 | 17,842 | 14,747 |
| _____ | _____ | _____ | ||
| 17,842 | 17,842 | 14,747 | ||
| ===== | ===== | ===== |
The financial statements were approved by the Trustees on ……………………………………… and are signed on its behalf by:
Trustee ……………………………………. Trustee …………………………………... D Waterfield P Lorrimore
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DocuSign Envelope ID: 92C6E9CF-2CA4-4587-8CD8-2147EBDF0D27
FAITH CHURCH FAKENHAM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 December 2022
1. Accounting policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on the 16 July 2014 and with the Charites Act 2011.
1.2 Accounting policies
The accounts present a true and fair view and the accounting policies adopted are those outlined in note (1.1).
1.3 Fund accounting
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.
1.4 Incoming resources
All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Income Tax recoverable in relation to donations received under Gift Aid or Deeds of Covenant is recognised at the time of the donation.
1.5 Resources expended
All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.
Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at headquarters. Management and administration costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
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DocuSign Envelope ID: 92C6E9CF-2CA4-4587-8CD8-2147EBDF0D27
FAITH CHURCH FAKENHAM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 December 2022
1.6 Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives, on the following bases:
Fixtures & equipment - 25% reducing balance Computer equipment – 25% reducing balance
2. Tangible fixed assets
| 2. | Tangible fixed assets | ||
|---|---|---|---|
| Fixtures | |||
| and equipment | Total | ||
| Valuation | |||
| At 1 January 2022 | 3,435 | 3,435 | |
| Additions | 869 | 870 | |
| Disposals | - | - | |
| ____ | ____ | ||
| At 31 December 2022 | 4,304 | 4,305 | |
| ==== | ==== | ||
| Depreciation | |||
| At 1 January 2022 | 1,056 | 1,056 | |
| Depreciation eliminated on disposal | - | - | |
| Charge for the year | 812 | 812 | |
| ____ | ____ | ||
| At 31 December 2022 | 1,868 | 1,868 | |
| ==== | ==== | ||
| Net book value | |||
| At 31 December 2022 | 2,436 | 2,436 | |
| ==== | ==== | ||
| At 1 January 2022 | 2,379 | 2,379 | |
| ===== | ===== | ||
| 3. | Cash at bank and in hand | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Current account | 14,034 | 10,978 | |
| ===== | ===== |
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DocuSign Envelope ID: 92C6E9CF-2CA4-4587-8CD8-2147EBDF0D27
FAITH CHURCH FAKENHAM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 December 2022
4. Creditors: amounts falling due within one year
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Accruals and deferred income | 378 | 360 | |
| === | === | ||
| 5. | Charity funds | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Opening funds | 14,747 | 15,432 | |
| Net movement in funds for the period | 3,095 | (685) | |
| _____ | _____ | ||
| Closing funds | 17,842 | 14,747 | |
| ===== | ===== |
Closing funds shown above are held on trust and in accordance with the restrictions contained in the Charity’s Memorandum of Association.
6. Analysis of net assets between funds
| Analysis of net assets between funds | ||
|---|---|---|
| Unrestricted | Unrestricted | |
| 2022 | 2021 | |
| £ | £ | |
| Tangible Fixed Assets | 2,436 | 2,379 |
| Current assets | 15,784 | 12,728 |
| Creditors due within one year | (378) | (360) |
| ______ | _____ | |
| 17,842 | 14,747 | |
| ====== | ===== |
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