The Throneroom Report of the Trustees and Accounts Period 01 Feb. 2023 to 31 Jan. 2024
THE THRONEROOM
LEGAL & ADMINISTRATIVE DETAILS
FOR THE PERIOD ENDED 31 JANUARY 2024
ADDRESS FOR CORRESPONDENCE 4th Floor 18 St. Cross Street London EC1N 8UN GOVERNING DOCUMENT Constitution as amended by resolution of the members on 17 September 2023 CHARITY REGISTRATION NUMBER 1190863 TRUSTEES RESPONSIBLE FOR Stanley Williams (appointed MANAGING THE CHARITY 24 March 2024) Elisa Eyas (appointed 24 March 2024) Omar Edwards (appointed 24 March 2024) BANKERS NATWEST Bank Plc INDEX Page 1 Legal & Administrative Details Pages 2-3 Trustees' Report Page 4 Receipts and Payments Account Page 5 Statement of Assets & Liabilities Page 6 Notes to the Accounts
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THE THRONEROOM
REPORT OF THE TRUSTEES
FOR THE PERIOD ENDED 31 JANUARY 2024
The trustees have pleasure in presenting the charity's Report and Accounts for the period ended 31 January 2024.
The charity was registered as a charitable incorporated organization (CIO) with the Charity Commission on 14 August 2020 and operates as a church. The main activities of which are in the London Borough of Wandsworth.
Objects of the charity
The charity is governed by a constitution as amended by members’ resolution on 17 September 2023. The principal object (as set out in its governing document) is to advance the Christian Faith in the United Kingdom and the world for the benefit of the public.
Summary of the charity's main activities and achievements
To further the above objects and vision, the charity's main activities and achievements were as follows:
a) Hosted weekly physical worship services and teaching sessions
- b) Conducted toddler and teens Sunday school classes
c) Performed pastoral care and prayer for church members and the general public upon request.
d) Conducted outreach in local community to engage with the general public and discuss the Christian Faith. e) We prepared and distributed spiritually motivating flyers throughout the local community in Wandsworth.
In planning the activities the trustees have applied the guidance on public benefit issued by the Charity Commission.
Financial review
During the period the charity's total income was £24,039. All of this income was from donations received from church members. During the period, the charity spent £17,755. The opening balance for the period was £49,630 this results in a closing balance of £55, 915 all of which is unrestricted.
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THE THRONEROOM
REPORT OF THE TRUSTEES continued
Reserves policy
The trustees have determined that the charity should aim to hold unrestricted cash of no less than £6,300 (which equates to about 4 months of usual expenditure plus contingency) so that the charity could continue to operate smoothly should income and / or expenditure vary adversely or if something else unexpected took place. This level of reserves would give the trustees time consider and respond to any issues. The policy for holding reserves is reviewed annually.
Governance
Responsibility for setting policy rest with the trustees who meet regularly to monitor the activities of the charity. Responsibility for the day to day operation of the charity has been delegated to the charity's spiritual leadership. New trustees are nominated by the charity's spiritual leadership and are elected, by a majority vote, by the members of the charity.
Risk statement
The charity is exposed to various risks - be they operational, financial or reputational. The trustees review the charity's activities regularly to identify significant risks and, where possible, they take appropriate measures to mitigate those risks.
Responsibilities of trustees
Charity law requires us as Trustees to prepare financial statements for each accounting year which record the receipts and payments of the charity for the year.
We are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable us to ensure that the financial statements comply with the Charities Act 2011.
We also have a responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities.
Approval
This report was approved by the trustees and signed on their behalf by:
Stanley Williams
Stanley Williams
Elisa Eyas
Elisa Eyas
Date: 24 November 2024
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THE THRONEROOM
RECEIPTS AND PAYMENTS ACCOUNT
FOR THE PERIOD ENDED 31 JANUARY 2024
| Income receipts Other Income Donations from church members Total receipts |
Period from Notes Unrestricted Restricted 01 Feb 23 to Funds Funds 31 Jan 24 £ £ £ |
|---|---|
| - - - 24,039 - 24,039 |
|
| 24,039 - 24,039 |
|
| Payments Payments in relation to charitable undertaken directly Totalpayments |
activities 2 17,755 - 17,755 |
| 17,755 - 17,755 |
|
| Net of receipts / (payments) before transfers Transfers between funds Net movement in funds Cash funds at the beginning of the period Cash funds at theperiod end |
A 6,284 - 6,284 - - - 6,284 - 6,284 49,630 - 49,630 55,915 - 55,915 |
The notes on page 6 form part of these accounts.
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THE THRONEROOM
STATEMENT OF ASSETS AND LIABILITIES
FOR THE PERIOD ENDED 31 JANUARY 2024
| Unrestricted | Restricted | |||
|---|---|---|---|---|
| funds | funds | 31 Jan 24 | ||
| £ | £ | £ | ||
| A | Cash funds | |||
| Cash at in bank current account | 55,915 | - | 55,915 | |
| Pettycash | - | - | - | |
| 55,915 | - | 55,915 | ||
| B | Other monetary assets | £nil | £nil | £nil |
| C | Liabilities | |||
| Fee forpreparingand examiningthe accounts | 0 | - | 0 | |
| 0 | - | 0 | ||
| D | Assets retained for charity's own use |
The charity does not own any significant assets.
E Guarantees and secured debts
The charity has not given any guarantees and has not provided its assets as security for any liabilities.
The accounts were approved by the trustees and signed on their behalf
by Stanley Williams
Elisa Eyas
Elisa Eyas Stanley Williams
Date: 24 November 2024
The notes on page 6 form part of these accounts
.
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THE THRONEROOM
NOTES TO THE ACCOUNTS
FOR THE PERIOD ENDED 31 JANUARY 2024
1 Accounting policies
The accounts have been prepared on a receipts and payments basis and comprise a statement that shows the charity's receipts and payments, a statement that summarises the charity's assets and liabilities and related notes. The accountancy profession have determined that only accounts prepared in accordance with applicable accounting standards present a 'true and fair' view and, as these receipts and payments accounts have not (and cannot) be prepared in accordance with accounting standards, these accounts do not present (and are not intended to present) a 'true and fair' view of the charity's financial activities and state of affairs.
Unrestricted funds are funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.
| Unrestricted | Restricted | Total | ||
|---|---|---|---|---|
| funds | Funds | 31 Jan 23 | ||
| £ | £ | £ | ||
| 2 | Payments in relation to charitable activities undertaken directly | |||
| Venue | 8,991 | - | 8,991 | |
| Equipment | 2,259 | - | 2,259 | |
| Subscription & Fees | 730 | - | 730 | |
| Teaching Resources | 1,704 | - | 1,704 | |
| Legal Fees Other ministry expenses |
960 1,338 |
- | 960 1,338 |
|
| 2 | Payment to other charities | 1,321 | - |
1,321 |
| 3 | Insurance costs | 454 | - | 454 |
| 17,755 | - |
17,755 |
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