ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2022
SYNERGY SPHERE
(Charitable Incorporated Organisation)
CHARITY REGISTRATION No: 1191114
Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
SYNERGY SPHERE
(Charitable Incorporated Organisation)
CONTENTS
| Page 3 | Legal and Administrative Information |
|---|---|
| Page 4 | Trustees' Report |
| Page 5 | Statement of Financial Activities |
| Page 6 | Balance Sheet |
| Pages 7 to 13 | Notes to the Financial Statements |
| Page 14 | Independent Examiner's Report |
SYNERGY SPHERE
(Charitable Incorporated Organisation)
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER 1191114 DATE OF REGISTRATION 2nd September 2020 START OF FINANCIAL PERIOD 1st September 2021 END OF FINANCIAL PERIOD 31st August 2022 TRUSTEES AT 31ST AUGUST 2022 David Cavanagh David Cave Christine Loh Madelaine Norridge Charles Hume Mark Mumford David Cave (Appointed 25th January 2022) LEGAL STATUS Charitable Incorporated Organisation GOVERNING INSTRUMENT CIO - Foundation Registered 2nd September 2020
OBJECTS
The object of the CIO is for the public benefit, the advancement of the Christian Faith, in particular (but without limitation) by providing Christian teaching and training.
CORRESPONDENCE ADDRESS 33 Lower Hall Lane Walsall West Midlands WS1 1RR PRIMARY BANKERS CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ INDEPENDENT EXAMINERS Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
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SYNERGY SPHERE {chaIrtab Incorwated Oryani4tsonl TRUSTEES. REPORT FOR THE YEAR ENDED 31ST AUGUST 2022 Oblectlvo• andAdlvltlo8 Thtr ObjeGI of ts CIO Is, for the put4t be( Its of the Chrlthn faith in partkxjknr Ilxrt Krt knrtatsonl by provldlro Chd8tntaa¢hlng arKI trainir> We havè aTrJ tr8knIrvJ Fwr¥nrres b•J8rs and memtérs aTh1 wovthd ¢tsJwl and aomco to church88 In vaths stagos of tsirdevekprMnL Tha Trust8 havè c¢Jnsidered Ihv guldarts iry fv Chaty Commh8h)n arnl tho wcfk ofthe charlty Iln partbJL8r gukYart8 on clrfls frx tharKerwl ofrelyKfil. Achl•wm•nt and P•rfornb•nc• We have held a numtr of events year to 8upFort aThJ 8qulp varKxm of IWarShSp In our churcheB. TheB8 hovo ra(Vae from retreats for wr80nal dev6kwwnt for $8nkx aderS to a mINd Communty In pgrtrnrship ith Wthj H¢Jrlzons IntgrGuMurnl Clwrche5 UK lo 118 siratOW ttter rau81 ISlty In our We also Iwkj wr fnt In Pèr full ¢¢nfortsrf• parthmk IltIo 1fAlthl8g•t•8. Fln•ncl•l R•vl•w We are In a finandal F¢45lhJn. Inccrn fr¢m ¢hwclB b rkna •WI wo hjvo been abb to run 4 d¢11 budget lo thal grtrth. We are 8p8Tralng r888rves over th8 wt Ithvyoarn kn 8&7 for st•• grv Structur•, Go¥ornanc•and MaMgom•nt We hDld cash for cur charitat4e Operatio with i •rn&l nwrtw0fdesbts •fft1 w¢rl¢ied Th8 0)VerTh by 8 Cth•Wh)) ir• fv Ch•tyTrwte88. New Iru$t•e• Ihil aFpJknled by lh8 oxl'NJ by r88c•Jt Tru¥tw¥' R•¥pon•lblMtb•• The chare8 Aci 2011 r8quire3 Iiw InJste8s to Pr10 fina1 st•lerr•nts for 08ch fina1 year gfve a trug and f81r vlew of 61ale of affairg of Ihe QQ 8tN4 d tho c4 the oo fty fvi p8rba. In tlwxe flrmndal 8tatement8 tho trujleos are required t. . Seknt ¥utsbb accounttro aNI tffl cStenty . Make juthJ8menw a1 e5tlrnate8 that are aTrY wlant . Prwre fin011 $tAt8ffnts t•818 18 lrnpyOrle to that ts CIO 11 continue kn fj¥istenc8. Tho trusle¢8 are resp for koeF4rMJ prcper rth, dcle wlth at •ny the fina81 positth of the CIO. They are a0 r8SrM1b for safeguardlry the a888ts d the CIO and har for laklffj reasonoL 8tep8 for the prev8nllon aThS ofiraud aTrJ ¢Jth8r irr$& 1616) ia Aped ty theT¢08S on....................................... Signed on th&lr tWby TnLgtse.............. Pthled Naffle.. tIKI gl I hji LOH
SYNERGY SPHERE
(Charitable Incorporated Organisation)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2022
| Unrestricted | Designated | Restricted | TOTAL | TOTAL | ||
|---|---|---|---|---|---|---|
| Notes | Funds | Funds | Funds | 2021/22 | 2020/21 | |
| £ | £ | £ | £ | £ | ||
| INCOMING RESOURCES | ||||||
| Incoming Resources from Generated Funds | ||||||
| Donations, Grants & Legacies | 3a | 31,050 | 1,890 | - | 32,940 | 63,630 |
| Charitable Activities | 3b | 15,926 | 6,740 | 700 | 23,366 | 2,961 |
| Investment Income | 3c | 2 | - | - | 2 | - |
| Other Incoming Resources | 3d | 325 | - | - | 325 | 2,505 |
| TOTAL INCOMING RESOURCES | 47,303 | 8,630 | 700 | 56,633 | 69,096 | |
| RESOURCES EXPENDED | ||||||
| Costs of Generating Funds | ||||||
| Cost of Charitable Activities | 4a | 62,871 | 7,900 | 2,438 | 73,209 | 36,645 |
| Governance Costs | 4b | 1,713 | - | - | 1,713 | 1,381 |
| TOTAL RESOURCES EXPENDED | 64,584 | 7,900 | 2,438 | 74,922 | 38,026 | |
| NET INCOMING (OUTGOING) RESOURCES | (17,281) | 730 | (1,738) | (18,289) | 31,070 | |
| Funds Brought Forward | 3,685 | 24,960 | 2,425 | 31,070 | - | |
| Transfer Between Funds | 10,827 | (10,840) | 13 | - | - | |
| TOTAL FUNDS CARRIED FORWARD | (2,769) | 14,850 | 700 | 12,781 | 31,070 |
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 7 to 13 form part of these financial statements.
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SYNERGY SPHERE {CharilaL4e kncLYporated ¢knnis81kn1 8ALANCE SHEET AS AT 31ST AUGUST 2022 Total 31.Aug_22 Total 31-Aug-21 Fur Fu FIx0d A880ts Tangibk Assets Tot41 Flx•d A•••t• CurrMtA%Mts DeblNs & Pr8paymenl8 C85h at Bank art in Pl8nd Total Curr•ntA•wts 2.082 13.143 15,224 2,082 13.843 15,924 29.760 31.820 700 Cr•dltorn.' Amounts duo wlthln om ya 3.143 3,143 750 NET CURRENT ASSETS 12.081 12,781 31.070 TOTAL ASSETS bss ¢urMnt Ill188 12,081 700 12.781 31,070 Cr•dttorn.' thnts tslirvJ ¢Ju8 Il¥n y•or 10 NEf ASSETS 12,081 700 12,781 31,070 FLTrnds ofth•ChrKy Gener&1 Fund8 De8lgnal8d Fund8 Rotrted FUFKJI P,7891 14.850 12,7691 14,8j 7ryJ 3,685 24,960 2,425 7tsJ Total Fur¥ 12.081 700 12,7BI 31.070 16 Approved bythe Trustaes on................... Sned on thek behwlfty TnJo............... ... Pnted NatY'. CH({ Isfi UO
SYNERGY SPHERE
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2022
1. ACCOUNTING POLICIES
Basis of Preparation & Assessment of Going Concern
Basis of Preparation
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 notes. The financial statements 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 (FRS102) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2011.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
Assessment of Going Concern
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
Incoming Resources
Recognition of Incoming Resources
These are included in the Statement of Financial Activities (SOFA) when:
▪ the charity becomes entitled to the resources;
▪ the trustees are virtually certain they will receive the resources; and
▪ the monetary value can be measured with sufficient reliability
Incoming Resources with Related Expenditure
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.
Grants and Donations
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Tax Reclaims on Donations and Gifts
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
Contractual Income and Performance Related Grants
This is only included in the SOFA once the related goods or services have been delivered.
Gifts in Kind
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.
Donated Services and Facilities
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
Volunteer Help
The value of any voluntary help received is not included in the accounts.
Investment Income
This is included in the accounts when receivable.
Investment Gains and Losses
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
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SYNERGY SPHERE
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST AUGUST 2022
1. ACCOUNTING POLICIES (continued)
Expenditure and Liabilities
Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Governance Costs
Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advice to trustees on governance or constitutional matters.
Grants with Performance Conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
Grants Payable without Performance Conditions
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
Investments
Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.
Unrestricted funds
These funds can be used for the general objectives of the charity as set out in the trustees report. The movements of the unrestricted funds are given in the Statement of Financial Activities.
Restricted funds
These funds are where the donor has specified a purpose for the donation made. These restrictions often arise as a result of appeals for special offerings for specific purposes.
Designated funds
These funds are funds set aside by the trustees out of unrestricted general funds for particular purposes or projects.
Fixed Assets
Fixed Assets are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt.
Depreciation Expense
Depreciation is calculated at a rate to write off the cost of tangible fixed assets over their estimated useful lives. The rates applied are as follows:
Fixtures, Fittings and Equipment
25% - Straight Line Basis
2. TANGIBLE FIXED ASSETS
The CIO held no fixed assets during this or the previous financial period.
The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31st August 2022 : None 31st August 2021 : None
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SYNERGY SPHERE
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST AUGUST 2022
3. INCOMING RESOURCES
| Note a) Donations, Grants & Legacies Gift Aid Tax Gifts & Donations 6 b) Charitable Activities Activities & Events Ministry Income 5 & 6 c) Investment Income Interest d) Other Incoming Resources Sundry Income |
Unrestricted Designated Restricted TOTAL TOTAL Funds Funds Funds 2021/22 2020/21 £ £ £ £ £ - - - - 6,775 31,050 1,890 - 32,940 56,855 31,050 1,890 - 32,940 63,630 15,926 - - 15,926 2,711 - 6,740 700 7,440 250 15,926 6,740 700 23,366 2,961 2 - - 2 - 2 - - 2 - 325 - - 325 2,505 325 - - 325 2,505 |
|---|---|
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SYNERGY SPHERE
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST AUGUST 2022
4. RESOURCES EXPENDED
| Note a) Cost of Charitable Activities Activities & Events Bank Charges Equipment Costs Insurance Costs Ministry Support 6 Research & Development Costs Staff Costs 12 Training Costs Travel & Subsistence 5 b) Governance Costs Independent Examiners Fees 9 Legal & Professional Fees |
Unrestricted Designated Restricted TOTAL TOTAL Funds Funds Funds 2021/22 2020/21 £ £ £ £ £ 14,372 - - 14,372 1,502 129 - - 129 48 69 - - 69 - 535 - - 535 330 - 7,900 - 7,900 200 3,065 - - 3,065 - 40,105 - - 40,105 34,565 3,165 - - 3,165 - 1,430 - 2,438 3,868 - 62,871 7,900 2,438 73,209 36,645 850 - - 850 750 863 - - 863 631 1,713 - - 1,713 1,381 |
|---|---|
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SYNERGY SPHERE
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST AUGUST 2022
5. RESTRICTED FUNDS
CURRENT FINANCIAL PERIOD
| Apostolic Contributions Spain Fund |
Balance Balance 01-Sep-21 Income Expenditure Transfers 31-Aug-22 £ £ £ £ £ - 700 - - 700 2,425 - 2,438 13 - 2,425 700 2,438 13 700 |
|---|---|
PREVIOUS FINANCIAL PERIOD
| Spain Fund | Balance Balance 02-Sep-20 Income Expenditure Transfers 31-Aug-21 £ £ £ £ £ - 2,625 200 - 2,425 - 2,625 200 - 2,425 |
|---|---|
The Spain Fund was created to fund a ) direct support to missionaries in Spain, b ) travel by our team to Spanish locations to provide ministry, c ) subsidise our events for Spanish leaders
The Restricted funds are wholly represented by the charity's cash reserves and are to be expended as specified above.
6. DESIGNATED FUNDS
CURRENT FINANCIAL PERIOD
| Ministry Support Reach Synergy Fund Reserve Fund PREVIOUS FINANCIAL PERIOD Reach Synergy Fund Reserve Fund |
Balance Balance 01-Sep-21 Income Expenditure Transfers 31-Aug-22 £ £ £ £ £ - 6,740 7,900 1,160 - 960 1,890 - - 2,850 24,000 - - (12,000) 12,000 24,960 8,630 7,900 (10,840) 14,850 Balance Balance 02-Sep-20 Income Expenditure Transfers 31-Aug-21 £ £ £ £ £ - 6,150 21,624 16,434 960 - - - 24,000 24,000 - 6,150 21,624 40,434 24,960 |
|---|---|
The Designated funds are wholly represented by the charity's cash reserves and are to be expended on particular purposes as directed by the Trustees.
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SYNERGY SPHERE
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST AUGUST 2022
7. CASH AT BANK AND IN HAND
| Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|
| Fund | Fund | 31-Aug-22 | 31-Aug-21 | |
| £ | £ | £ | £ | |
| Cash at Bank & in Hand | 13,143 | 700 13,843 |
29,760 | |
| 13,143 | 700 13,843 |
29,760 | ||
| 8. DEBTORS AND PREPAYMENTS Sundry Debtors |
Unrestricted Fund £ 2,082 |
Restricted Fund £ |
Total 31-Aug-22 £ - 2,082 |
Total 31-Aug-21 £ 2,060 |
| 2,082 | - 2,082 |
2,060 | ||
| 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Independent Examiners Fees Sundry Creditors |
Unrestricted Fund £ 850 2,293 |
Restricted Fund £ |
Total 31-Aug-22 £ - 850 - 2,293 |
Total 31-Aug-21 £ 750 - |
| 3,143 | - 3,143 |
750 |
10. CREDITORS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR
The CIO held no long term liabilities during this or the previous financial period.
11. NET ASSETS BETWEEN FUNDS
| Fixed Asset Investments Net Current Assets Long Term Liabilities |
Unrestricted Restricted Total Total Funds Funds 31-Aug-22 31-Aug-21 £ £ £ £ - - - - 12,081 700 12,781 31,070 - - - - 12,081 700 12,781 31,070 |
|---|---|
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SYNERGY SPHERE
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST AUGUST 2022
12. STAFF COSTS AND NUMBERS
| TOTAL 2021/22 £ Gross Wages, Salaries & Fees 40,105 Employer's National Insurance Costs - Pension Contributions - 40,105 Employees who were engaged in each of the following activities: TOTAL 2021/22 Charitable Activities 2 |
TOTAL 2020/21 £ 34,565 - - 34,565 TOTAL 2020/21 2 |
|---|---|
The Charity employed staff on a Self-Employed Basis during the financial period and is therefore not liable for their National Insurance and Pension Costs. No employees received emoluments in excess of £60,000 (2020/21:None).
13. TRUSTEES AND OTHER RELATED PARTIES
During the financial year Trustee Mr Mark Munford received £350.00 in event and retreat costs in furthering the Charity's objects.
No other payments were made to trustees or any persons connected with them during this financial period. No other material transaction took place between the organisation and a trustee or any person connected with them.
14. RISK ASSESSMENT
The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
15. RESERVES POLICY
The Trustees have considered the level of reserves they wish to retain, appropriate to the CIO's needs. This is based on the CIO's size and the level of financial commitments held. The Trustees aim to ensure the CIO will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily.
16. PUBLIC BENEFIT
The CIO acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the CIO has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the CIO should undertake.
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SYNERGY SPHERE (Charitsble Incorwrated Organisalionl INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS Report to th8 trusteesl momLws ol Syrnrgy Sthre on the wJnts th& y&ar ded 31st August 2022 set out on pages sto13. R••p•Gtlv• r•POnbIlIt10• of tru•tws The charity's trustè8$ 8r8 rosponsible lor the weparation of the a(wJnts. The charity's truslees consK1er that an audit Is not raquired for this year under sectK)n 144 of the ChaAts"es t 2011 (the ChantJ Act) and that an indop8nd8nl 8xaminatbn 18 needed. 11 is my responsibility to.. examine tKcounts under seCtn 145 of tl Chaities Ad. follow the prctedures down In the rectionS gi¥en by Charfty Comm1)n lund8r 8ectlon 1451Sllbl of the Charrties Aet aTr slai8 wne¢h8r p10r matters have corm to my attenl B4•1i of Ind•p•nd•nt •xnlNor'• •t•t•m•nt My examination was carrd in adarKe wrilh gorffil Directws gth) by Charfty CmISSion. An examination Includes a revth ol accountlng rerS kept by th8 ¢F•rlty and a coM80n of the accounts presant•d wlth tho$$ records. It olso irclude8 consJefation ol any unusual or disdc6ur8s in I xctsjnts. and kIng explanation$ from the Irusteeg conceming any Such Matters. The wet•Jur85 uThYertak8n th) not all the eVkyere that would bg required sn an audtt, and con9equentty no OFxnlon 18 gNen 86 tts whethor the pKcounts tyetenl a 'true and fair. view and the rèport IB Ilmlled lo Ib)68 Thtt•rs $8t crfrt $ement b•kn. Ind•p•nd•nt •xam5norfJ •tst•m•nt In conngction wth ry examination. M rnatter h8S Cc1 to my attentton.. which giv08 m¢ re•wnoblo cau58 lo b81i8ve that in any rnalerial re6• thg roouirwwnts.. to keep accounting records in xcordanc• with secti 130 01 the Charities Act; and to prÈpare accounts which xcord the a¢)xunty"ng racords arKI rtsnply vAth the a(tounn9 rgqulram•ni8 ofthe Charllth £t have not been m8¢ or lo which, in my attentlon thuld b• dr•m in Qrder to enot4e a wopar urKleand1Thj Df the accounts lo b8 reachad. K. Collaku MAAT Castle Vlew AccountirrfJ Ltd N&w Barn Mudb•rry L8n8 Bosham Chiche$ler West Su54ex P018 8TS 6th June 2023 14