DocuSign Envelope ID: A25B2E8C-05D8-4DD7-9E51-9E30D508B3C6 **PEAK TRINITY CHURCH CIO** **(A CHARITABLE INCORPORATED ORGANISATION)** **FINANCIAL STATEMENTS** **FOR THE PERIOD FROM 11 NOVEMBER 2020 TO** **31 DECEMBER 2021** **COMPANY NUMBER: CE023309** **REGISTERED CHARITY NUMBER: 1192271** **Cound & Co LLP Chartered Accountants 1 Princes Court Royal Way Loughborough Leics LE11 5XR** **Tel: 01509 214163** DocuSign Envelope ID: A25B2E8C-05D8-4DD7-9E51-9E30D508B3C6 ## **PEAK TRINITY CHURCH CIO** **REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD FROM 11 NOVEMBER 2020 TO 31 DECEMBER 2021** ## **CONTENTS** - 1 - 3 Report of the Church officers 4 Independent Examiners’ Report 5 Statement of Financial Activities 6 Balance Sheet 7 - 10 Notes forming part of the financial statements. DocuSign Envelope ID: A25B2E8C-05D8-4DD7-9E51-9E30D508B3C6 **- 1 –** ## **PEAK TRINITY CHURCH CIO** ## **TRUSTEES REPORT FOR THE PERIOD FROM 11 NOVEMBER 2020 TO 31 DECEMBER 2021** The trustees present their annual report together with the Financial Statements of the charity for the for the period from 11 November 2020 to 31 December 2021 **.** The accounts comply with the Charities Act and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015). ## **1) Structure, Governance and Management** The charity was registered as a Charitable Incorporated Organisation on 11[th] November 2020. The management of the charity is the responsibility of the trustees who are elected under the terms of the governing document. New trustees are advised of their obligations under charity and company law. Trustees are put forward by the membership for consideration. New suggested appointments are voted on at a members meeting in all instances. The trustees determine the day to day operations of the charity or appoint appropriate officers to whom this responsibility is delegated. ## **2) Reference and Administration** Trustees R R G Scothern Mrs M A Fry T J Archer D Moss Company Registered Number CE023309 Charity Registered Number 1192271 Registered Office Ashlea Wyedale Drive Bakewell DE45 1BB Independent Examiners Cound & Co LLP Chartered Accountants 1 Princes Court Royal Way Loughborough Leics LE11 5XR DocuSign Envelope ID: A25B2E8C-05D8-4DD7-9E51-9E30D508B3C6 **- 2 –** ## **PEAK TRINITY CHURCH CIO** ## **TRUSTEES REPORT FOR THE PERIOD FROM 11 NOVEMBER 2020 TO 31 DECEMBER 2021** ## **2) Reference and Administration (continued)** Bankers National Westminster Bank PLC 1 Water Lane Bakewell DE45 1YY ## **3) Objectives and Activities** The Objectives and Activities of the Trust are as follows: - (A) The advancement of the Christian faith in accordance with the basis of faith primarily but not exclusively within Bakewell and the surrounding villages, farms and hamlets that make up the Peak District National Park. - (B) To advance the Christian faith for the benefit of the public in such charitable ways as the Trustees think fit from time to time. We, as trustees, recognise that it is our legal obligation to ensure that the trust's activities are in line with our objectives and activities and we are satisfied that this is the case for the period in question. The trustees also confirm that they have had regard to the Charity Commission's guidance on public benefit. ## **4) Achievements and Performance** ## **Key Events** Peak Trinity Church transformed from a ‘Church plant’ to a fully-fledged independent church and CIO registered on 11[th] November 2020. In spite of the year being dominated by Covid and the restrictions that went along with that, the church has seen encouraging growth in its first year of operation. That is growth in terms of the congregation maturing in their faith and also numerical growth. We entered the year with approximately 15 adults regularly attending and finished the year with approximately 30 to 40 folks regularly attending our Sunday morning services. We were delighted to come out of lockdown and locate to a new home in the 6[th] form block at Lady Manners school which serves us very well. On our web site (www.peaktrinity.org) we state the we are a church for the Peak Villages, Bakewell and the ends of the earth. In terms of our locality, we started the year with the whole church as one large midweek home group and have finished the year with 3 functioning mid-week home groups. As a church for the Peak District, these home groups represent our geographical spread, with one group for Bakewell, one group based around Tideswell and a third group for the spread of other villages in the area. As a church also thinking about Christ’s mission ‘to the ends of the earth’ we are delighted to have many links beyond our immediate horizon. We provide regular support to 2 Missionaries serving Wycliffe Bible Translators and a family church planting in Paris. We have also donated to emergency aid in other parts of the world. We are a candidate Acts 29 church and have strong links with a number of Acts 29 churches in America. We are also full members of the FIEC and have good links with a number of local like-minded evangelical churches and gospel partnerships. We have also sought to serve our local community. During the pandemic we ran a local support outreach, and our Staff Elders are involved in local sports activities. Rob Scothern is the chaplain for the Bakewell Mannerians Rugby club and runs their ‘minis’ section on Saturday mornings – which has grown greatly in numbers under his guidance. David Moss started and continues to run the Bakewell Walking Football club for over 50s. DocuSign Envelope ID: A25B2E8C-05D8-4DD7-9E51-9E30D508B3C6 **- 3 -** ## **PEAK TRINITY CHURCH CIO** ## **TRUSTEES REPORT FOR THE PERIOD FROM 11 NOVEMBER 2020 TO 31 DECEMBER 2021** ## **4) Achievements and Performance (continued)** ## **Key Events (continued)** We look forward to the new year in anticipation that the Lord will continue to bless us as we hold out the word of life in the Peak District. ## **5) Financial Review** The Trust had an income this financial year of £173,710 (£149,648 unrestricted and £23,472 restricted) and a total expenditure of £54,877 leading to a net gain of £118,293. The Trust considers that this is a very strong position making it able to pursue its charitable aims in the future. Finances are reviewed in detail each month by the Chairman of Trustees and quarterly by the trustees and members. ## **6) Reserves Policy** ## **1. General policy** - 1.1 The **trustees** of **Peak Trinity Church** recognise the importance of a reserves policy to help demonstrate good stewardship and financial management and to manage its reputation. - 1.2 Our policy is to retain sufficient reserves: - To ensure that the **church** has sufficient funds to meet its financial commitments. - To demonstrate that the **church** is sustainable into the future. - To ensure that the **church** is able to manage future unforeseen financial difficulties. - To ensure that excessive funds are not held without any identifiable reason or for any identifiable purpose. - 1.3 This reserves policy relates only to the **church’s** unrestricted funds. Restricted funds may be held in addition to be used for the restricted purpose for which they were given. - 1.4 The overall responsibility for this policy and its implementation rests with the **trustees** of **Peak Trinity Church** - 1.5 In constructing this policy, the **trustees** have paid due consideration to the Charity Commission guidance on charities and reserves. **2. Calculating reserves** - 2.1 Financial reserves are considered in two parts: - General reserves that are deemed necessary to meet future operational requirements and to protect the **church** against future financial uncertainties including loss of income and unexpected increases in operating costs. - Reserves set aside to meet future financial commitments for a specific significant project or venture or planned future commitment. - 2.2 General reserves are calculated after assessing the financial risks faced by the **church** and determining: - - The size of any contingency fund required to meet unforeseen operational costs. DocuSign Envelope ID: A25B2E8C-05D8-4DD7-9E51-9E30D508B3C6 **- 3 -** ## **PEAK TRINITY CHURCH CIO** ## **TRUSTEES REPORT FOR THE PERIOD FROM 11 NOVEMBER 2020 TO 31 DECEMBER 2021** ## **6) Reserves Policy (continued)** ## **2. Calculating reserves (continued)** - Any uncertainty that might exist over the continuation of future income flows including donations and other grants. - An amount that might be required to cover expected deficits in the cash budget. - An amount that might be needed to meet an unforeseen emergency. - • Therefore, the trustees set the Reserves at **3 months of normal expenditure.** - 2.3 Specific reserves are calculated with reference to a planned spending commitment or to fund a specific project or other venture. Generally specific reserves will be treated as designated funds. - 2.4 Reserves will be reassessed regularly and specifically in the following circumstances: - A significant change in the core operations of the **church** . - Information coming to light that casts doubt on the **church’s** future income flows. - A significant change to the wider environment in which the **church** operates, including the overriding economic climate. - Annually, in the event that no other re-assessment has taken place. ## **3. Using reserves** ## 3.1 **Peak Trinity Church** may invest its reserves. - 3.2 In the event that the **church** has excess reserves, the **trustees** will consider how these funds might be effectively used in the future. ## **4. Reporting the reserves policy** - 4.1 The **trustees** will include an explanation of the reserves policy in their annual report setting out: - A brief statement of the general policy. - The level of reserves held and a brief explanation of why they are held. - Where material funds have been designated, the amount and the purpose of the designation. - Where designated funds relate to future expenditure, the likely timing of that expenditure. - 4.2 If the **trustees** conclude that no reserves are required, this will be explained in their annual report. ## **5. Adoption of this policy** - 5.1 The **trustees** of **Peak Trinity Church** formally accepted this policy at the **trustees** meeting held on March 2022. ………………………………… D Moss DocuSign Envelope ID: A25B2E8C-05D8-4DD7-9E51-9E30D508B3C6 **- 4 -** ## **INDEPENDENT EXAMINERS’ REPORT TO THE OFFICERS OF** ## **PEAK TRINITY CHURCH CIO** ## **Independent Examiner's Report to the Officers of Peak Trinity Church Bakewell** I report to the charity trustees on my examination of the accounts of the charity for the period from 11 November 2020 to 31 December 2021 which are set out on pages 6 to 11. ## **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: 1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records 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. ## D R Gradon MA FCA Cound & Co LLP Chartered Accountants 1 Princes Court Royal Way Loughborough Leics, LE11 5XR 23 March 2022 DocuSign Envelope ID: A25B2E8C-05D8-4DD7-9E51-9E30D508B3C6 **- 5 -** ## **PEAK TRINITY CHURCH CIO** ## **STATEMENT OF FINANCIAL ACTIVITES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)** ## **FOR THE PERIOD FROM 11 NOVEMBER 2020 TO 31 DECEMBER 2021** |||Unrestricted|Restricted|Total| |---|---|---|---|---| |||Fund|Fund|Funds| ||Note|2021|2021|2021| |**INCOME AND ENDOWMENTS FROM:**||||| |Donations and legacies|2|168326|800|169126| |Gift Aid||4044|-|4044| |||______|______|______| |**TOTAL INCOME**||172370
______|800
______|£173170
______| |**EXPENDITURE ON:**||||| |Charitable activities|3|54077|800|54877| |||______|______|______| |**TOTAL EXPENDITURE**||54077
______|800
______|£54877
______| |**NET INCOME (EXPENDITURE)**||118293|-|118293| |**TRANSFERS BETWEEN FUNDS**|11|-|-|-| |||_____|_____|______| |**NET MOVEMENT IN FUNDS**||118293|-|118293| |**RECONCILIATION OF FUNDS:**||||| |Total funds brought forward||-|-|-| |||______|______|______| |**TOTAL FUNDS CARRIED FORWARD**|11|118293
______|-
______|£118293
______| DocuSign Envelope ID: A25B2E8C-05D8-4DD7-9E51-9E30D508B3C6 **- 6 -** ## **PEAK TRINITY CHURCH CIO** ## **BALANCE SHEET AS AT 31 DECEMBER 2021** |CURRENT ASSETS
Debtors
Cash at Bank and in Hand
LIABILITIES – Creditors falling due within one year
NET CURRENT ASSETS
NET ASSETS
THE FUNDS OF THE CHARITY:
Unrestricted Funds
Restricted Fund|Notes
5
6
7
7|31 December 2021
4043
115529
_______
119572
_______
1279
_______
118293
_______
£118293
_______
118293
-
_______
£118293
_______| |---|---|---| |||4043
115529
_______
119572
_______
1279
_______| These financial statements were approved by the trustees on 23 March 2022 and signed on its behalf by ………………………………… D Moss Trustee DocuSign Envelope ID: A25B2E8C-05D8-4DD7-9E51-9E30D508B3C6 **- 7 -** ## **PEAK TRINITY CHURCH CIO** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD FROM 11 NOVEMBER 2020 TO 31 DECEMBER 2021** ## 1 ACCOUNTING POLICIES ## a) Basis of Preparation of Financial Statements These financial statements have been prepared in accordance with the Charities SORP (FRS 102): ‘Accounting and Reporting by Charities, Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS102 the Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS102”) (effective 1 January 2016)’, FRS102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (effective September 2016), and the Charities Act 2011. The disclosure requirements of Section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view. The charity constitutes a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transactional value unless otherwise stated in the relevant accounting policy note and the financial statements are prepared on a going concern basis. The financial statements are prepared in sterling, which is the financial currency of the charity and rounded to the nearest £1. ## b) Company Status The Peak Trinity Church CIO was registered as a charitable incorporated organisation on 11 November 2020 and is governed by a constitution dated 11 November 2020 and registered with the Charity Commission under charity number 1192271. ## c) Fund Accounting Undesignated 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. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The aim of each restricted fund is set out in the notes to the financial statements. ## d) Incoming Resources All incoming resources are included in the SOFA when the charity is legally entitled to the income after performance conditions have been met, the amount can be measured reasonably and it is probable that the income will be received. No amount included in the financial statements for volunteer time in line with SORP (FRS102). ## e) Resources Expended Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the church to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attached are fulfilled. DocuSign Envelope ID: A25B2E8C-05D8-4DD7-9E51-9E30D508B3C6 **- 8 -** ## **PEAK TRINITY CHURCH CIO** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD FROM 11 NOVEMBER 2020 TO 31 DECEMBER 2021** ## 2 DONATIONS AND LEGACIES |Unrestricted
Restricted
Funds
Funds
2021
2021
Donations from Sharrow Vale WRC
112607
-
Donations from other churches
39097
800
Donations from Walking Football
912
-
Donations from church members
15710
-
______
_____
168326
800
______
_____|Total
2021
112607
39897
912
15710
_______
£169126
_______|Total
2021| |---|---|---| 3 EXPENDITURE ON CHARITABLE ACTIVITIES |Unrestricted
Restricted
Funds
Funds
2021
2021
Grants and donations
8333
800
Training and development expenses
853
-
Insurance
342
-
Outreach expenses
2004
-
Premises costs
3510
-
Travel expenses
136
-
Subscriptions
2072
-
Wages and salaries
29242
-
Accountancy fees
360
-
Bookkeeping fees
2700
-
Equipment purchases
4015
-
Walking Football costs
510
-
______
_____
54077
800
______
_____|Total
2021
9133
853
342
2004
3510
136
2072
29242
360
2700
4015
510
______
£54877
______| |---|---| ## 4 STAFF COSTS |Wages and salaries
National insurance
Less: Employment Allowance
Pension Contributions|2021
28088
1322
(1322)
1154
______
£29242
______| |---|---| DocuSign Envelope ID: A25B2E8C-05D8-4DD7-9E51-9E30D508B3C6 **- 9 -** ## **PEAK TRINITY CHURCH CIO** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD FROM 11 NOVEMBER 2020 TO 31 DECEMBER 2021** ## 4 STAFF COSTS (cont’d) |Average number of employees|2021
2
___| |---|---| The following trustees received remuneration during the year. |R Scothern
D Moss|2021
£16217
£11871
______| |---|---| R Scothern received remuneration for his role as a pastor to the Church, not for his role as a trustee. D Moss received remuneration for his administration role, not for his role as a trustee. R Scothern was accruing retirement benefits during the period. The contributions are to a defined contribution pension scheme. The contributions in the year were £1154. ## 5 DEBTORS – All receivable within one year |Trade Debtors
Gift aid reclaimable|2021
-
4043
_____
£4043
_____| |---|---| ## 6 CREDITORS – Amounts falling due within one year |Accruals
Taxation and Social Security
Pension Contributions|2021
574
509
196
_____
£1279
_____| |---|---| DocuSign Envelope ID: A25B2E8C-05D8-4DD7-9E51-9E30D508B3C6 **- 10 -** ## **PEAK TRINITY CHURCH CIO** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD FROM 11 NOVEMBER 2020 TO 31 DECEMBER 2021** ## 7 STATEMENT OF FUNDS |7|STATEMENT OF FUNDS||||| |---|---|---|---|---|---| ||||||At 31 December| |||Income|Expenditure|Transfers|2021| ||Unrestricted Funds|172370|(54077)|-|118293| ||Restricted Funds|800|(800)|-|-| |||______|______|_____|______| ||Total Funds|173170
______|(54877)
______|-
______|£118293
______| ||Restricted Funds are represented by:||||| ||||||C/Fwd at| ||||||31 March| |||Income|Expenditure|Transfers|2021| ||Hardship Fund|800|(800)|-|-| |||______|______|_____|______| |||23472
______|(800)
______|-
______|22672
______| |8|ANALYSIS OF NET ASSETS BETWEEN FUNDS||||| ||||Unrestricted|Restricted|
Total| ||||Funds|Funds|Funds| ||Fund balances at 31 December 2021 are represented|by:|||| ||Current Assets||119572|-|
119572| ||Current Liabilities||(1279)|-|
(1279)| ||||______|______|
______| ||Total Net Assets||118293
______|-
______|
118293
______|