Charity registration number: 1193357
MYCHURCH
Annual Report and Financial Statements for the Year Ended 31 December 2021
Contents
| Contents | |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees' Report | 2 to 3 |
| Statement of Trustees' Responsibilities | 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 10 |
Reference and Administrative Details
Trustees
Dr Sharon Lynn Stone Patrick Lawrence Nivelles Stephen Michael Randell Arlette Pisani
Principal Office
4 Black Horse Yard Park Street Windsor SL4 1LA
Charity Registration Number
1193357
Independent Examiner
Kolade Andrew Alli ACMA KARE Financial Management Consultants Ltd 10 Gatcombe Gardens West End Hampshire SO18 3NA
Page 1
Trustees' Report
The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2021.
Objects
TO ADVANCE THE CHRISTIAN FAITH IN ACCORDANCE WITH THE STATEMENT OF BELIEFS LISTED IN THE CHARITYS CONSTITUTION, IN BERKSHIRE, LONDON AND SUCH PARTS OF THE UNITED KINGDOM OR THE WORLD AS THE TRUSTEES MAY FROM TIME TO TIME THINK FIT AND TO FULFILL SUCH OTHER PURPOSES WHICH ARE EXCLUSIVELY CHARITABLE ACCORDING TO THE LAW OF ENGLAND, WALES AND ARE CONNECTED WITH THE CHARITABLE WORK OF THE CHARITY.
Achievement and performance
MyChurch received its charity status on the 2nd of February 2021. It has been in full operation for 2021. We were unable to get our own bank accounts. No banks were holding interviews for new accounts, during lockdown. Our interview was postponed until 28th of June. As a result, there was a transferring of funds from CIE (the initial charity) throughout the year. These finances were being separated by categories within CIE before this time.
MyChurch charity has been solely online until September of this year, with viewings of 500-5,000. This consisted of 3 Prayer meetings and Sunday services weekly. We had a wonderful Regathering with about 180 people that has reduced to 80 -180 people most Sundays.
Post Pandemic Lockdown:
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We still have a very strong online presence.
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Many are excited and hungry for time with God and each other.
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We have found few are inclined to be volunteers.
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Children’s ministry has not been able to resume.
-
The FEW are carrying the responsibilities (load for the many).
Our highlight for the year has to be the joy of getting to be a gathered family again, as well as an internet family.
Page 2
Trustees' Report
Achievement and performance
Sufficient reserves are required in order to ensure the viability of
the charity in the following areas:
-
To provide day-to-day working capital.
-
To maintain any future charity property.
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For protection against a decline in income that cannot be easily matched by a reduction in expenditure.
Public benefit
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
The annual report was approved by the trustees of the charity on 9th June 2022 and signed on its behalf by:
......................................... Dr Sharon Lynn Stone Chair of Trustees
......................................... Stephen Randell Trustee
Page 3
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees of the charity on 9th June 2022 and signed on its behalf by:
......................................... Dr Sharon Lynn Stone Chair of Trustees
......................................... Stephen Randell Trustee
Page 4
Independent Examiner's Report to the trustees of MYCHURCH
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2021 which are set out on pages 6 to 10.
Respective responsibilities of trustees and examiner
As the charity’s trustees of MYCHURCH 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 MYCHURCH'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.
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:
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accounting records were not kept in respect of MYCHURCH as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination.
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.
...................................... Kolade Andrew Alli ACMA
KARE Financial Management Consultants Ltd 10 Gatcombe Gardens West End Hampshire SO18 3NA
9th June 2022
Page 5
Statement of Financial Activities for the Year Ended 31 December 2021
| Statement of Financial Activities for the Year Ended 31 December 2021 |
Statement of Financial Activities for the Year Ended 31 December 2021 |
|---|---|
| Unrestricted funds Total 2021 |
|
| Note £ £ |
|
| Income and Endowments from: | |
| Charitable activities | 160,523 160,523 |
| Expenditure on: | |
| Charitable activities | (165,276) (165,276) |
| Total expenditure | |
| (165,276) (165,276) |
|
| Net expenditure | |
| (4,753) (4,753) |
|
| Net Transfer of funds from CIE & Prophetic Voice | |
| Charity | 3,098 3,098 |
| Net movement in funds | |
| (1,655) (1,655) |
|
| Reconciliation of funds | |
| Total funds carried forward 9 |
|
| (1,655) (1,655) |
All of the charity's activities derive from continuing operations during the above period.
Page 6
(Registration number: 1193357) Balance Sheet as at 31 December 2021
| (Registration number: 1193357) Balance Sheet as at 31 December 2021 |
(Registration number: 1193357) Balance Sheet as at 31 December 2021 |
|---|---|
| 2021 | |
| Note £ |
|
| Current assets | |
| Cash at bank and in hand 6 |
1,709 |
| Creditors: Amounts falling due within oneyear 7 |
|
| (1,364) | |
| Total assets less current liabilities | |
| 345 | |
| Creditors: Amounts falling due after more than oneyear 8 |
|
| (2,000) | |
| Netliabilities | |
| (1,655) | |
| Funds of the charity: | |
| Unrestricted income funds | |
| Unrestricted funds | (1,655) |
| Total funds 9 |
|
| (1,655) |
The financial statements on pages 6 to 10 were approved by the trustees, and authorised for issue on 9th June 2022 and signed on their behalf by:
......................................... Dr Sharon Lynn Stone Chair of Trustees
......................................... Stephen Randell Trustee
Page 7
Notes to the Financial Statements for the Year Ended 31 December 2021
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with 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 (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
MYCHURCH meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Exemption from preparing a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees’ discretion in furtherance of the objectives of the charity.
Page 8
Notes to the Financial Statements for the Year Ended 31 December 2021
2 Income from charitable activities
| 2 Income from charitable activities |
|||
|---|---|---|---|
| Unrestricted | |||
| funds | Total | ||
| General | 2021 | ||
| £ | £ | ||
| Donations | 150,039 | 150,039 | |
| Gift Aid tax reclaimed | 10,282 | 10,282 | |
| Other income | 202 | 202 | |
| 160,523 | 160,523 |
3 Expenditure on charitable activities
| 3 Expenditure on charitable activities |
|
|---|---|
| Unrestricted | |
| funds Total |
|
| General 2021 |
|
| £ £ |
|
| Advertising | 41 41 |
| Audio visual expenses | 8,403 8,403 |
| Wages and salaries | 47,074 47,074 |
| Direct Ministry Expenses | 13,360 13,360 |
| Honorarium | 35,000 35,000 |
| Equipment | 12,754 12,754 |
| Food and Hospitality | 2,501 2,501 |
| Office Expenses | 242 242 |
| Gifts and donations | 1,200 1,200 |
| Insurance | 711 711 |
| Licenses & Live Streaming Subscriptions | 863 863 |
| Manse Cost | 25,938 25,938 |
| Research Materials, Books and Publication | 300 300 |
| Storage Hire | 1,080 1,080 |
| Vehicle expenses | 425 425 |
| Venue Hire | 6,546 6,546 |
| Web Maintenance | 3,148 3,148 |
| Computer software and maintenance costs | 1,974 1,974 |
| Printing, postage and stationery | 170 170 |
| Travel and subsistence | 1,010 1,010 |
| Independent examiner's fee | 1,250 1,250 |
| Bank charges | 1,286 1,286 |
| 165,276 165,276 |
Page 9
Notes to the Financial Statements for the Year Ended 31 December 2021
4 Trustees remuneration and expenses
During the year the charity made the following transactions with trustees:
Dr Sharon Lynn Stone
Dr Sharon Lynn Stone received remuneration of £26,500 during the year.
5 Taxation
The charity is a registered charity and is therefore exempt from taxation.
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6 Cash and cash equivalents
2021
£
Cash at bank 1,709
7 Creditors: amounts falling due within one year
2021
£
Other creditors 114
Accruals 1,250
1,364
8 Creditors: amounts falling due after one year
2021
£
Other loans 2,000
9 Funds
Net Transfer
of funds
from CIE &
Prophetic Balance at 31
Incoming Resources Voice December
resources expended Charity 2021
£ £ £ £
Unrestricted funds
General 160,523 (165,276) 3,098 (1,655)
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Page 10