Marylebone Christian Charity Charity Registration No. 1189690 Report of the Trustees and Financial Statements 29 February2024 Tandeln kncounting Charte A(XOLFntams 17 Heathviiie Road London N19 &AL
Maryiebone Christian Chartty Report and Flnanclal Ststements 2024 Contents Page Legal 4ndAdmlnl¥trattrée Infomiatkn Report ofth• TNst8e$ Report of tha Indepandert Examlnertothe Mavylebone Chrtslian Chorlty Statsment of RnanclalActi¥hfes Balancè Sheèt Notes tothe Flnanclal Stst•ments
Maryiebone Christian Charity Legal and Admlnistrathi8 Infonnation For the year ended 29 February 2024 CharityName Marythe Christian ChaTtty Charrty Reglstration no. Reglstration Date 28 May2(r20 Registered Addregs Brecon House Theclose London N20 8PJ GovèrnIDDCUmert CIO-Foundation Obj•ctives The objectrbES of the CIO to adwdnce the Chrfstkgn frdiih in accordance wlth the attached 5tatemeritoftaith. inparticularlbutthOut lilniiationl by prowdingpremisesfor chutches and other Christkin tharities or gr0pS and aCModatIon Christian workers. TTUStaes TTuslees74ho sern¢dfrom l March 2023 until the date this reportwas approved are: Jonathan Lewis John Steven Wyatt HonorTruong Suze Awlogun Lucyfice MichaeLSha SamuelTan Appointed 1 June 2020 AprK)inted 1 June 2020 Appointed 10 May 2023 Appoinied 11 May2023, rewe<l 30 NovembeT2023 AppoiTrted I l May 2023 Appointed 17 July 2023 Appointed 17 June 2024 Banker NatWe5t Bank London N226DS Indeptrndent Examlner John Helm ACA Tandem AccountingLtd 17 Heathvi.ile Road London N193AL
MARYLEBONE CHRISTIAN CHARftY Report of the Trustees Forthe year ended 29 February2024 Marylebone Christ¢an Charsty l-the Trusf} $ubrnits tts report aThJ the financial st8tewnents lorthe year ended 29 February 2024. The financial statemerrts have been prepared in Ihe lOnat prescribed bythe Statemeni of RÈ¢ommended pctiCe.. Accourning and Reporting by Charities ISORP2019 IFRS1O211 and the Financial Reponrng Standard 102. The legal and ailryNnistr*ive infortiOn sei out earlierin this document forn part ol this repK)rt. l. Stweture. Govern4nc8 and Man•mè Trust•Ès The Board ofTwustees hasthe rK)wertoappoint allottheirustees ottheTrusL The Trusiees meet relartY thu@tsUt Ihe year 10 discuss a lull range matters relIng to finance. fabric. general administration and the obIectwe50f thÈ chanty. 2. knivitie¥ Stratègles TheTrusiees h8vere¥iewed Iheactivitiesand stratwesoftheCIO. TheTrustees beb"evethatthÈ¢urreTri acttvities 0fntIng the held properttes to pÈopte involved in the Ioc81 prDrrKJtion of Christian faith ts in itne wth theobjectives of tK charity- Publ1¢ benefft statement In setting our objectiw and planning our acti¥iiies. our trJstee5 have wen consideratiDn to the Ch81ty Commission's general guidance on publEc benetit, in panicular. Ihe athancement of the ChrI18n lai1h through the PTOdU1on of evangelistic SOurceS in order to train Christk?Fk5 to gtow in their understanding of the Christian fatlh and how to share it with others. 3. Achievèments and Perfomiance The priority this yea¥ has been settrng up and e5tabir5hing the Marylebone Christian Charity as a viable CIO. We have foGused the following a¥eas- AppointIng8ddationaltwees Developing8 clear $10 ol will spend fijnds Appro8chtngpDiential donors and ghowin8 howiheycan gNe IdentifnBaPpr0pr13te ppertyarOUnI centsaLLondon to make av8llaLrf&to evartgelical churches Financlal Revlew Th8 main Soknrce DI fttnding is donations from individuals. 1 Flnan¢balActflity and FinanelHI Posltio The CIO'S maln source of income comes from donations and legacies. The Statemerbt ol Finan¢i81 Activtties anij Balance Sheet can be found on pages 6 and 7 peCtely. The CIO'S reserves increased by E452.277duiingtheyearl2023= in¢reased byE34.416)- The b0nce sheei showstDtal net assets of£486,693 12023-. È34.4161. 4.2 ReseNes Poilcy TheCIO held £486.693 in urtrestricted fund5attheendof Febrry2l4I2O23- £34.416). Itis thetrustÈes'intentionio hold unrestricted rÈ5erves equal to two months of operating costs. The main oper8ting costs rekte to the maintenance of the CIO'S website and the CIO has sufficient unresrritted reseives to covef two months of these Costs. The trustee5 will continue io VIeW the reserves balance to ensure that ex¢essive funds ate noi held Trhylhout any idenii14ablÈ reason or purpose.
MARYLEBONE cHRIlAN CHARttY Report of theTrustees For theyear ended 29 February 2024 4.3 Investment policy The CIO keeps a portion ol itslunds in an interest-bearingdepositwilh the aimotU5ingihese fundsio Purchase ptoperties forpeople involved in the Local promotion of Christian failh. 4.4Rlskasgessrnent and mitygatla The riskswhichthe orgaDisationtaces have beenconsidered and measureswill bE implementedtoensure thaiappropriate Systems, policles and procedures are in place to rnanage and mrttEatÈ the Tisks. These Tisk5, srtcludlng health and safety, are being mitigated through modem wnaftagemenl Systems and pra¢tices. A5 a matteT of Epneral potscy. independent professional adce istaken whert appropriate. In response to the cUrnt eco0M1¢ St2tion. the iwstees haNe considered the likety impact on future firÈance5 and do notfeelthatthe economywill have anYlinancl impacton the ch8rity- 5. Pian8tOT FuiuTe Periods short and me(lium temi plan is to ¢oniinuewFEh the savneobjectNes and activities in support ol them. 6. Rèsponsibiiitiesof Trust¢esfoTthe Financl81 Statenwrrts The trustees are ie$ponsible for preparing the report antj the financial atements in accordance with applicable law and United Kingdom Generally Acceple(l Accounting Practice. Charity Law in Engnd and W8les Tequires the twstees to prepare tinancial staiements lor each tinarF¢IalaTVkn1¢h gNe a true and taiTwewof Ihe state of 8Yf8115 Otthe charityand of the ircoming resources and application of resoueS of the ¢harityfor that peri(xl. In preparingthose tinancialstatements. the trustee is reqUIrj to: select suitable accounting policies and apptylhem consisteniw. obseNÈihe melh¢xis and PfinciplÈsotthe CharitiesSORP make jtbdgemÈnts and estimates that ate reasonable and wu(leni' 8tste whethef applicable accounling standar¢J5 have been followed. 5tJbpct to any departures disclosed and explained in IhÈfftnancial statements- an prepare the financial statements on the gng concem fjasis unless it is inappropriate to pSume that the a¢tiiThtie8 of the charrtywiit¢ontinu4. The Trustees are r8spon5ible lor keeping adequate aGcounwng reGords vthich dfsclose with ieasonable accura¢y at any timethetinancial position of the charityand enablesthemloensurethatthefinanckqlstatementscomplywithlhe Charities Act2011. theCharitylAc¢ountS8nd Reports) Rewlations 28ad the provisions ofthegovemingdocufftent. TheTrustees are a180 responsible forsafeguardin2theBssets of Ihe chaiityarnl hence foriangreaSOnabe5tepsIOrte pr8veniion and detection of trauo an4J othe¥ irFeguiaFities. 7. Approval Th8 repon of theTrusreeswas appt0 tytheTTusiee8 on S DecemLEI 2024and sig[ on its behalf SamuelTan TTUStee k*n8than Lth¥is TNstee
MARYLEBONE cHRIlAN CHARITY Report of tho Independent Examinertothe Maryiebone Christian Charity I report on the filnCial 5tatementsotMaryieboneChristian ChairtyfoTtheyeaierthd 29 February2024. setouton pages 6tolO. Th15 report Ts made solely to the Trustees in accoldance with section 145 of the Charities Act 2011 (the Actl. My independent examtnation has been undertaken so that I mtght State to the Trustees those matters l am required to state tothem in an independentexaminerfs report and for nootherpurrM)se. To thefultest extent peTmittert bythe law, I do not accept responsibility to 8rtyone otherthan theTrust and theTrusteestormy independeni examination. for this report, or the opinions I havelomiE(I. RESPECTIVE RESPONSIBiunES OFTriISTEESAND EXAMINER TheTrustee5 considerthatanauditis not reouiredlorthis period lundersection 144(2lof the CharitiesAct20111 andthat an independentexamÈnation is neede(l. It is my responstbilityto- Examinethe accounts (under section 145otthe PLtl- To followthe procÈdures laid dov•VJ In the General DirelOn &ven bythe CharitycommissN)n lunders&ctio 14515llbl oltheActl- and To siaie vhlethei particular matters ha cometo nryattention. BASIS OF INDEpENDEEXAMlNER STATEMENT My examinaiion was ¢a<ried out in accordance with General Directions Oven by the Charity Commissioners. An examination includesa review ol theaccouniingrecordskepi bythechantyand a compari50n ofthe accounts presented Wllh those records. It also includes consideration ol unustsal tiems or disc105ures in the accounts and seeking explanationsfromthe Tiustees concerninganysuch m8tters.The procedures un(JÈnaken do notprowde allthe evidence that would b8 required in an audiL and consequentty I do not exwess an audit owniorÈ onthe8¢counts. INDEPENDEKtEXAMSNER'S STATEMENT I h8vÈ ¢orrTrpleted my Èxamin8tion. I confim thai no terial matters have come to myatteniion in connection wtth the examination gwingme ¢aus& to believe that in 8nymaterial iesp8Ct . accountin8 cordS not kept:?4- -SWt olthe Trtsst as requiied by section 130 ofthe Act" or 2. the accounts do notaccord with those words- 01 3. the accounts do not complywith theapplicabie requirements Cerningthe fomi and ¢ontenE ofaccountssetout In the Chartties (Accounts and Reports) RegLFtstions 2CK)8 otherthan any requiTemeni that the accounts wvÈ a'true and faIreW. which is F0t8 mattercon&derert as pan ofan independeN examination. I have no con¢eriiS and havecomeacrossno Oiher maners in ¢onnectioYk with theexamination to which attention shDuld be drawn in this feport in order to enable a woperunderstandingofthe8c¢ountsio l* reached. John Meim ACA 5 D8c•Mbei 2024
MARYiEBONE CHRISTIAN CHARITY Balance Sheet For the year ended 29 February 2024 2023 CurrentAss•ts Dpbtors Cash At BankAnd In Hand 17.518 470,075 34.416 reditov$-Amounts Falilng thjewlthtn One Year 487,593 34.416 9)0 N•t CurrertAssets 486.693 34.416 otAs8èts 34.416 Repr8sented by: Unrestrrcttid IrKomè Funds 486.693 34.416 Total Funds 34416 The fin8ncial statementswere approved bythe tsusteeson S Decewnber2024 and signed on its behall by. Samuel Tan Jonaihan LewS$ Trustee
MAAYLEBONE CHRISTIAN CHARttY Statement of FinancialAcliv¥tses Forthe year ended 29 February 2024 2024 21>23 Income from: Donations and gaCleS Interest 447,689 5.861 Total Incom2 Expenditure on: Raisingfunds Charitable activltles 3a 3b 1,230 TalExpendUrO Net gainslllossesl on investments Net In¢ome 3U16 Transfers bet¥en funds Other recognised gainslllosses} Net movement Inlund8 3V16 Total funds bioughtfo¥ward 34,416 Totalfvnds carriedfon¥a¥d 34N16
MARYLEBONE CHRISTIAN CHARttY Notestothe Financial Statements Forthe year endod 29 February 2024 1. Arcounting Pollcles The pinGipal accounting polKies adopte<l,judgement$ and key sources of estimalion uncertaifrty in the preparalion ol the ftnancialslatementsaie as Ir)Ilows-. Baslg Qtaccountlng The tinan¢ial state¥¥Hs have been prepared unfleT Ihe Charilies Act 2019 and in accordance wth the Charities StatÈm8nl of Recommended Practice ICharitES SORP IFRS 10211. The Yinancial statemepis are drawn up on the hIOI1caL cost basis r)f actountin& Since the gross income of the CIO is over £2.0 lor ihe financial star. the accounts have been pr8paFe<J on an a¢crua15 basis that complywtlh the appticableStateFnentof Rectbmmended Practice ISORPI abowThis is a dittereTrt basi5 of PTeparatlDn from the previous financial year. whith Yrds PtepaTY on a receipts and payments basis because the gr05s income was les5 than £250.OW. This change in the basi5 of preparation has resulted in a change in the accounting poli¢ieslor ino)me and expendttuo.Thechan8e of accountingpob.cies does not resull in any PliOT period adjustments. The tinancial ststements irlUde ailtransactions. as%tsand abtiitIeS forwhich the tsuste88 ate lesponsible in law. The charityGonstttute5 a public benefil 8ntTty as deffintyj byFRS 102. Goln%Concern The financ[ statements have been prepared on the going con¢em basi$. The t[ee8 aFe mindlul of the need to prepare realistic budgets and then closely monftor tlte actual financial perft)rwnance ol the planned actiwties. The tru51ees have taken into account allintormaiion that reasonably be expected to be awdilable and considerthat Ih8re areno mate¥ialuncertainiiesTelated ioeventsof corKir(ionsth8trTwycastsigniftcantdoubtupon theCIO'sability to con1inue as a goiTrgconcem. Incom• recognitlon Tradingincomeand voluntaryin¢omeand donatl0ll5aie8ccotEntedfoFon¢ethe charltyhasenlltteff*ntto theincome. it is probable the incorne will be ceiVe. the amount ot income receivable can be knably rneasured. Income from the coVery oi tax on aided donations is a¢counted lor in the rIOd to which the relevant donation is re¢eNed. Grant incomÈ is recogntsed on a TeGeiv8ble basis. Interesto4YundshÈld on deposit is includedwhen Feceiwdble andtheamountc8nbe me8suied reabLYbyth8 charity- this is ntrimaltyuwn noiification otthe iereSt paid or payable bythe bank. Expenditur• reco¥n&tlon Expenditure is accTued as soon as a liability is cons¥Jered prDbabiÈ. and Ihe amount ot obligation can be measured reliably. Longei lem liebililiÈS are ¢Jiscounted to prese wdiuÈ. The ¢harity is not regi5teFed foT VAT and accordingly expelbditure includesVATwhere appiopiiats. Charitsble expenditu includes those co$ in fulfillinE the charitys prin¢ipal objects. as oullined in Ihe Annual Report.These include go¥emancecosts arÈd suppon costs. Govemance cost5comwise alL¢osts involwngthe publ acctsuntability ol the chanty and its ¢omptsan¢e vrith regutiOn and good practice.These costs include costs related to the independent examinatw)n and Legolfees. Asa reg¥siÈred charity.TheMarylebone Christian charityC is generdliynot ablettrX0n its surplusoTGapitalgain5. It 1STlOt. howevei. ÈKempllFomthewalue adj taL1rrecoveTable waluÈaddedtax is included inthe¢ostofthose items towhich it relates. Debtors DÈbtOTS are included ai the settiementarn¢)untdue. Prepawnents are wdlued atthe amount prepaid.
MARYLEBONE CHRISTIAN CHARrrY Notes to the Financial Statements Forthe year ended 29 February2024 Cash at bank and in hand Cash ai bank and in hand includes cash and shortterm highlyliquid investmentswith aStrtm8tiJrIty0fthree mnihs or lessfrom the date o*Dpeningofthe dep)SiL Crvdltor$ and provlstons Creditors and provisions are recogni5ed wher8ihe charity has a present obligaiion arising trom a past event thai will probably result in Ihe transferolfundsio a ihird parryand the awrK)untdueto settiethe obiiEation can be measured or estimated reli8bty. Creditornand piovrsions are reCOlsed atthetrsettEement amount 2. Income unrestr Rostrieted Funds Funds 2024 2024 Totsl 2024 Total 2023 Donations and legacies Donations and gF'fts GiftAid 403.600 44.089 403.600 44.089 34.487 Investments Interest Income 447,689 447.689 487 5.861 5.861 453,550 453.550 3. Expendlture 3a. Expendilura Dn R•lslngFuthds ilnrestricted Restrlcted Funds Fundy 2024 Total 2024 Total 2023 Adv8rttsing. marketln& direct nwiland public 3b. Expenditure on CharitabieActivitle$ Unrestr1ed Re¥trlcted Funds Funds 2024 2024 Total 2024 Total 2023 Professional tees Governance-independentexamination 330 330 12&7 1.230
MARYiEBONE CHRISTIAN CHARrrY Notesto the Financial Ststements Forthe year ended 29 February2024 Debtor¥ 2023 Gift "d R8C8tVdble 17.518 5. Cr•sfrtoT¥-AmouÈts FaulD8w11hin Onayear 2024 2023 Accruals 6. Retsted PafftrTransaction8 TheCIO'5 members are thevustees and undertake to ¢ontributeto the as5etsoftheCIO in the event of it beingwound up while theyarÈ members. or wthin oneswraftertheycease to be a member. such amount 8s may be quIred. fiol exceeding £1. foF the paymenl of debis ad knabilities contwacted befo they cease to becorne ftmber5. There is currently nodebt outstsndingsecured by an express charge on any otthe assets ofthe CD. Dullng1heyear. donationsfroFn inJeestotalled £19.93012023= £5.9121. During the year. none12023: none} of the Iwuees have been paid any mUner10n or recei1 any other benefits from the CIO. 7. Events afterthe end of rewiingperlod In August 2024 the Companypurcha*d a freehold pwpertyfor É1.566.100 irh London. United .10m. io