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2023-02-28-accounts

THE MARYLEBONE CHRISTIAN CHARITY CIO

Charity Number 1189690

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

CONTENTS

Page
Reference and administrative details of the CIO, its trustees and advisers 1
Trustees' Annual Report 2
Independent Examiner's Report 3
Statement of Receipts and Payments 4
Statement of Assets and Liabilities 5
Notes to the Financial Statements 6-9

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CIO, ITS TRUSTEES AND ADVISERS

Trustees Jonathan Lewis
Michael Sharp
Lucy Tice
Suze Arulogun
Honor Truong
John Steven Wyatt
Charity registered number 1189690
Registered Address Brecon House
The Close
N20 8PJ
Independent Examiner Simple Support Solutions
4 Acomb Close
Morpeth
NE61 2YH
Bankers NatWest Bank
14 The Broadway
London
N22 6DS

Appointed 01 June 2020 Appointed 17 July 2023 Appointed 11 May 2023 Appointed 11 May 2023 Appointed 10 May 2023 Appointed 01 June 2020

TRUSTEES’ ANNUAL REPORT

Public benefit statement

In setting our objectives and planning our activities, our trustees have given consideration to the Charity Commission's general guidance on public benefit, in particular, the advancement of the Christian faith through the production of evangelistic resources in order to train Christians to grow in their understanding of the Christian faith and how to share it with others.

Objectives and Principal Activities

The CIO's objective is to advance the Christian faith, by making property and funding available to evangelical churches, charities or organisations in accordance with its statement of faith. It operates independently of any denomination in order to ensure donations made by evangelical Christians continue to be used for the purpose for which they were given.

Activities in the year involved opening the bank account and talking to potential donors about what the charity does and how it works. Income only began to be received in December 2022, when the bank account was opened.

Achievement and Performance

The priority this year has been setting up and establishing the Marylebone Christian Charity as a viable CIO. We have focussed on the following areas:

Financial Review

The CIO's statement of receipts and payments shows a net surplus of £34,416 as at 28 FEBRUARY 2023. Unrestricted receipts for the year equated to £34,488 and unrestricted payments were £72. There are currently no restricted funds.

Going Concern

The Trustees are satisfied that the Charity is a going concern and do not know of any uncertainties regarding the organisation's ability to continue operating as a going concern

Reserves Policy

The CIO held £34,416 in unrestricted funds at the end of February 2023. It is the trustees' intention to hold unrestricted reserves equal to two months of operating costs, however, to date there are no operating costs. The trustees will also continually review the reserves balance to ensure that excessive funds are not held without any identifiable reason or purpose.

INDEPENDENT EXAMINER’S REPORT

I report to the charity trustees on my examination of the accounts of the Marylebone Christian Charity for the year ended 28 February 2023.

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 Trust’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.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

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.

Ashleigh Martin (B.Com) Simple Support Solutions Ltd 4 Acomb Close Morpeth NE61 2YH

STATEMENT OF RECEIPTS AND PAYMENTS

Note 2023 2022
£ £
Receipts
Donations 2 34,488 -
Total 34,488 -
Payments
Raisingfunds 3 72 -
Total 72 -
Net movement in funds 34,416 -
Reconciliation of funds:
Total funds brought forward - -
Net movement in funds 34,416 -
Total funds carried forward 34,416 -

Signed on behalf of the trustees on 14th December 2023

……………………. …………………… Jonathan Lewis (Chair) Michael Sharp (Trustee)

STATEMENT OF ASSETS AND LIABILITIES

As the accounts are prepared on a cash basis, in line with the Charity Commission thresholds, there is no formal Balance Sheet or Statement of Financial Position. Instead a statement of assets and liabilities is outlined to give an indication of the charity's assets at year end. As the charity has no fixed assets, the only asset is cash at bank and in hand.

2023 2022
£ £
Current assets
Cash at bank and in hand 34,416 -
Total current assets 34,416 -

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

Fund Accounting

The CIO's unrestricted general fund is available for use at the discretion of the trustees in furtherance of the general objectives of the CIO and which have not been designated for other purposes. At present there are no restricted funds.

Expenditure

Expenditure is recognised on a cash basis when payments have been made through the bank account. Expenditure on charitable activities is incurred on directly undertaking the activities which further the CIO's objectives, as well as any associated support costs.

Irrecoverable VAT

As a registered charity, The Marylebone Christian Charity CIO is generally not liable to tax on its surplus or capital gains. It is not, however, exempt from the value added tax. Irrecoverable value added tax is included in the cost of those items to which it relates.

Income

All income is recognised on a cash basis, once the money has been paid into the bank account. These accounts have been prepared on the receipts and payments basis, in accordance with the Charity Commission's requirements.

Going concern

The financial statements have been prepared on the going concern basis. The trustees are mindful of the need to prepare realistic budgets and then closely monitor actual financial performance of the planned activities. The trustees have taken into account all information that could reasonably be expected to be available and consider that there are no material uncertainties related to events or conditions that may cast significant doubt upon the CIO's ability to continue as a going concern.

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

(CONTINUED)

Note 2 - Receipts Note 2 - Receipts Note 2 - Receipts Note 2 - Receipts
2023 2022
£ £
Analysis of receipts
Donations 34,487 -
Total 34,487 -
Total Receipts 34,487 -

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023 (CONTINUED)

Note 3 - Payments Note 3 - Payments Note 3 - Payments Note 3 - Payments
2023 2022
£ £
Analysis ofpayments
3 Payments on raising funds:
Website and business cards 72 -
Totalpayments on raising funds 72 -

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

(CONTINUED)

Note 4 - Members’ Liability

The CIO's members are the trustees and undertake to contribute to the assets of the CIO in the event of it being wound up while they are members, or within one year after they cease to be a member, such amount as may be required, not exceeding £1, for the payment of debts and liabilities contracted before they cease to become members. There is currently no debt outstanding secured by an express charge on any of the assets of the CIO.

Note 5 - Trustees’ Remuneration and Expenses

During the year, no trustees received any remuneration or other benefits. During the year, no trustees received any reimbursement of expenses.

Note 6 - Related Party Transactions

During the year, donations from trustees totalled £5,912.