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2022-12-31-accounts

Charity number: 1193357

MYCHURCH

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

MYCHURCH

CONTENTS

Page
Reference and Administrative Details of the Charity, its Trustees and Advisers 1
Trustees' Report 2 - 4
Independent Examiner's Report 5 - 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Financial Statements 9 - 15

MYCHURCH

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022

Trustees Dr Sharon Lynn Stone Patrick Lawrence Nivelles Stephen Michael Randell Arlette Pisani Charity registered number 1193357 Principal office 4 Black Horse Yard Park Street Windsor SL4 1LA Bankers Barclays Bank Plc

Page 1

MYCHURCH

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

The Trustees present their annual report together with the financial statements of the MYCHURCH for the year 1 January 2022 to 31 December 2022.

Objectives and activities

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.

MyChurch gathered 51 Sundays in 2022. It held 3 communion services and hosted an online special Christmas service.

Attendance has been steadily growing following the pandemic with the low of 50 in person gathered and 500 online viewers, to a high of 250 in person gathered and 1,000 online viewers.

The Worship Team has grown in its expression and numbers. We now have 3 different teams.

We have struggled regaining our volunteer numbers. So, we have not had a Children’s ministry in 2022.

The highlight of the year was our Summer Baptism Service. There were over 50 people of all ages that received water baptism.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

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MYCHURCH
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TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Achievements and performance

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

Structure, governance and management

a. Constitution

MYCHURCH is a registered charity, number 1193357, and is constituted under a Trust deed.

b. Methods of appointment or election of Trustees

The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales 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 its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

Page 3

MYCHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and 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 Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They 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 order of the members of the board of Trustees on 31 March 2023 and signed on their behalf by:

Page 3

MYCHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Dr Sharon Lynn Stone

Stephen Michael Randell

Page 4

MYCHURCH

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

Independent Examiner's Report to the Trustees of MYCHURCH ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2022.

Responsibilities and Basis of Report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent Examiner's Statement

Your attention is drawn to the fact that the Charity has prepared the accounts 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no 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 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable 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.

Page 5

MYCHURCH

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

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.

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Signed:

Dated: 31 March 2023

Page 5

MYCHURCH

INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Kolade Andrew Alli ACMA

10 Gatcombe Gardens West End Hampshire

SO18 3NA

Page 6

MYCHURCH

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

Note
Income from:
Donations and legacies
2
Total income
Expenditure on:
Charitable activities
3
Total expenditure
Net income/(expenditure)
Transfers between funds
9
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2022
£
180,339		 Total
funds
2022
£

180,339		 Total
funds
2021
£

160,523
180,339
180,339
160,523

146,180


146,180


165,276
146,180
146,180
165,276

34,159
9,881


34,159

9,881


(4,753)

3,098
44,040
44,040
(1,655)

(1,655)
44,040


(1,655)

44,040


-

(1,655)
42,385
42,385
(1,655)

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 9 to 15 form part of these financial statements.

Page 7

MYCHURCH

BALANCE SHEET AS AT 31 DECEMBER 2022

Note
Fixed assets
Current assets
Cash at bank and in hand
Creditors: amounts falling due within one
year
6
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
7
Net assets / liabilites excluding pension
asset
Total net assets
Charity funds
Restricted funds
9
Unrestricted funds
9
Total funds		 43,936 2022
£
-

1,709


1,709

(1,364)
42,385

42,385
-
42,385
42,385
-
42,385
42,385		 2021
£
-



345
43,936
(1,551)
345
(2,000)
(1,655)
(1,655)

-
(1,655)
(1,655)

The financial statements were approved and authorised for issue by the Trustees on 31 March 2023 and signed on their behalf by:

Stephen Michael Randell

Dr Sharon Lynn Stone

The notes on pages 9 to 15 form part of these financial statements.

Page 8

MYCHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. Accounting policies

1.1 Basis of preparation of financial statements

The 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 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

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.

1.2 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

1.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

1.4 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 9

MYCHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. Accounting policies (continued)

1.5 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

1.6 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.7 Fund accounting

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.

Page 10

MYCHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

2. Income from donations and legacies

2. Income from donations and
legacies
Unrestricted
funds		 Total Total
2021
£

150,039

10,282

202

160,523
General 2022
£ £
Donations 148,230
148,230
Gift Aid tax reclaimed 32,094
32,094
Income from Prophetic Voice
Products		 0
0
Bank interest receivable 15
15
180,339 180,339

Page 11

MYCHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

3. Expenditure on charitable activities

3. Expenditure on charitable
activities
Unrestricted
funds		 Total Total
General 2022 2021
£ £ £
Advertising 0 0
41
Audio visual expenses 1,484 1,484
8,403
Professional Fees 45,831 45,831
47,074
Direct Ministry Expenses 20,514 20,514
13,360
Honorarium 29,500 29,500
35,000
Equipment 1,746 1,746
12,754
Food and Hospitality 1,867 1,867
2,501
Office Expenses 1,103 1,103
242
Gifts and donations 268 268
1,200
Insurance 1,429 1,429
711
Licenses & Live Streaming Subscriptions 1,623 1,623
863
Manse Cost 11,975 11,975
25,938
Research Materials, Books and
Publication		 120 120
300
Storage Hire 0 0
1,080
Vehicle expenses 2,978 2,978
425
Venue Hire 14,565 14,565
6,546
Web Maintenance 5,997 5,997
3,148
Computer software and maintenance
costs		 1,344 1,344
1,974
Printing, postage and stationery 367 367
170
Travel and subsistence 346 346
1,010
Independent examiner's fee 1,500 1,500
1,250
Bank charges 1,623 1,623
1,286
146,180 146,180 165,276

Page 12

MYCHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

4. Independent examiner's remuneration

Fees payable to the Charity's independent examiner for the independent
examination of the Charity's annual accounts		 2022
£
1,500		 2021
£
1,500

5. Trustees' remuneration and expenses

Dr Sharon Lynn Stone

During the year ended 31 December 2022, Dr Sharon Lynn Stone received remuneration of £26,000 in relation to work done on behalf of the charity. (2021 - £26,500) .

6. Creditors: Amounts falling due within one year

Bank loans
Accruals and deferred income		 2022
£
301
1,250
 2021
£

114

1,250
1,551 1,364

7. Creditors: Amounts falling due after more than one year

Other loans 2022
£
**- **		 2021
£
2,000

Page 13

MYCHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

8. Financial instruments

Financial assets
Financial assets measured at fair value through income and expenditure		 2022
£
43,936		 2021
£
1,709

Page 13

MYCHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

9. Statement of funds

Statement of funds - current year

Unrestricted funds
General Funds		 Balance at 1
January
2022
£
(1,655)		 Income
£

180,339		 Expenditure
£

(146,180)		 Transfers
in/out
£

9,881		 Balance at
31
December
2022
£
42,385

Page 14

MYCHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

9. Statement of funds (continued) Statement of funds - prior year

Unrestricted funds
General Funds		 Income
£
160,523		 Expenditure
£

(165,276)		 Transfers
in/out
£

3,098		 Balance at
31
December
2021
£
(1,655)

10. Summary of funds

Summary of funds - current year

General funds Balance at 1
January
2022
£
(1,655)		 Income
£

180,339		 Expenditure
£

(146,180)		 Transfers
in/out
£

9,881		 Balance at
31
December
2022
£
42,385

Summary of funds - prior year

General funds Income
£
160,523		 Expenditure
£

(165,276)		 Transfers
in/out
£

3,098		 Balance at
31
December
2021
£
(1,655)

Page 15