ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021
(CHARITABLE INCORPORATED ORGANISATION) CHARITY REGISTRATION NUMBER 1194553
Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane
Bosham PO18 8NF
RIVER CHURCH-IPSWICH (CHARITABLE INCORPORATED ORGANISATION) CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021
| Page | |
|---|---|
| Legal and Administrative Information | 3 |
| Trustees' Report | 4 to 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Accounts | 8 to 13 |
| Independent Examiner's Report on the Accounts | 14 |
RIVER CHURCH-IPSWICH (CHARITABLE INCORPORATED ORGANISATION) LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER
1194553
START OF FINANCIAL YEAR
20 May 2021
END OF FINANCIAL YEAR
31 December 2021
TRUSTEES AT 31 DECEMBER 2021
Revd Amy Key (Chair) (ex officio) Appointed 20 May 21 Revd Matthew Key (Vice-Chair (ex officio) Appointed 20 May 21 Revd Philip Dykes (Bishop's appointment) Appointed 1 Sept 2021 Revd Catherine Forsdike Appointed 25 May 21 Mr Ian Sturgess Appointed 25 May 21 Mr Robin Elsdon-Dew Appointed 20 May 21 Revd Alistair Metcalfe (Bishop's appointment) Appointed 20 May 21 Mr Kim Vaudrey Appointed 20 May 21
The existing trustees appoint any new trustees following the provisions laid out in the CIO's governing instrument.
GOVERNING INSTRUMENT
CIO-FOUNDATION adopted 20th May 2021
REGISTRATION DATE
20 May 2021
OBJECTS
The advancement of the Christian Religion by the setting up and running of new Christian Churches in accordance with the principles and established teaching of the Church of England in the town of Ipswich and the County of Suffolk.
CORRESPONDENCE ADDRESS
PRIMARY BANKERS
INDEPENDENT EXAMINER
River Church Ipswich St Mary-at-the-Quay Key Street Ipswich Suffolk IP4 1BZ Lloyds Bank PLC Oldham PO Box 1000 BX1 1LT Donna Leppitt Independent Examiners Ltd Unit 2 The Broadridge Business Centre Delling Lane Bosham PO18 8NF
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RIVER CHURCH-IPSWICH (CHARITABLE INCORPORATED ORGANISATION) TRUSTEES' REPORT FOR THE YEAR ENDED 31ST DECEMBER 2021
The board of trustees present their reports and accounts for River Church Ipswich for the period ending 31st December 2021.
Structure, Governance and Management
River Church Ipswich is a Charitable Incorporated Organisation (CIO) registered in the UK with the Charity Commission of England and Wales (registered number 1194553). River Church Ipswich is governed by a constitution, adopted upon the charity’s registration on 20th May 2021, and according to which trustees are appointed.
Decision Making
All financial and strategic decisions over £5,000 are taken by the trustees. The organisational implementation of the strategy is carried out by the Church Leaders and their staff team, in accordance with the trustees’ Scheme of Delegation.
Trustee Training
All staff, volunteers, and trustees undergo a formal selection process, followed by an induction period which includes any training necessary to effectively perform their role. Senior leadership of the church consists of clergy, whose stipendiary remuneration is set by the Diocese of St Edmundsbury and Ipswich.
Volunteers
River Church benefits from the dedicated work of a great number of volunteers. In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in these accounts.
Objects and Activities
Our objects are set out in our governing document, which was adopted by the trustees upon the charity’s registration on 20th May 2021.
Our objects are:
The advancement of the Christian religion by the setting up and running of new Christian churches in accordance with the principles and established teaching on the Church of England in the town of Ipswich and the county of Suffolk.
Dream, Purpose, and Goals
The board of trustees is committed to our dream, purpose, and goals.
Our dream is to see Ipswich overflowing with life.
Our purpose is to love God, love Ipswich, and love life.
Our goals are to be Spirit-filled, people-empowering, fun-loving, and abundantly-living.
In accordance with these statements, the church aims to meet its objects through a diverse range of activities including the provision of: Christian worship, evangelism, and discipleship; social transformation activities; and church planting. Given the diversity of the church’s activities, performance is measured on a case-by-case basis.
Public Benefit
In accordance with our duties stated in section 17(5) of the Charities Act, we have considered the guidance provided by the Charity Commission in relation to public benefit. This public benefit has been demonstrated by the activities undertaken since the inception of the charity outlined in this document.
Achievements and Performance
River Church is a new HTB Network church plant in the centre of Ipswich. As part of the Church of England Diocese of St Edmundsbury and Ipswich’s Inspiring Ipswich project, River Church has a remit to reach out to students at the University of Suffolk, young adults, young families, and those on the margins of society in Ipswich, and to grow into a thriving resource church for Suffolk.
Love God: Worship and Prayer
We launched our first Sunday service, THE SIX, on 26th September 2021, with more than 150 people attending. THE SIX is contemporary and informal in style, and is aimed at students, young people, and young adults in particular. Average Sunday attendance for 2021 exceeded 100 people. We meet weekly in term time for 7am Prayer—an informal time of worship and prayer for our church, our town, and our world. We have plans to launch a second Sunday service, THE FOUR (aimed at children and families) in early 2022. The total congregation has grown to around 150 people, a majority of whom are aged under 35.
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RIVER CHURCH IpSCH (CHARThABLE INCORPORATED ORGANISATION) TRUSTEES. REPORT FOR THE YEAR ENDED 31ST DECEMBER 2021 Love Ipsknh.. Sockil TranSformatn We have run a serks of hte-night Sessions helpinc those attendlng pubs, bars. and clubs In Ipswlch to get home safe. and where necessary sober up. We have plan5 to run a course supporting couples to build healthy. life-long relatlorsships earty in 2022. Love Le.. Evangelism and Discipleship W• hav run I Wpha course. wh IS guest5 attendlng. In th1$ reportlng pèriod, we are aware of 15 ptopk who have deckled to b&ome Christians at Rer Church. We have run • handful of Student Nyht5 and Creatlve NSght$, where student5 and creatives respectively have been supptsrt•d in their discipkshlp. We have pn$ to run midweek dlsclpleships groups called Hangouts in early 2022. The tharfty plans of eonthukng, expandlngi and èddlng to tts èxistlng Jcthitle5 in forthcomlng yiar$, subJÈtt to 5atlsfactory funding becoming aVaiLab. River Church alms to accumulato and retaln as unrestrlcted reserve$ three months, runnlng costs. At the efid of 2021, unre$trlcted rserve5 totalled £62,980.10. In the perbd to the end of 31st riee&mber 2021, Rfver Church raised a total Income of É144,07S.03 agalnst a total expendf(ure of £77,059.93. Unrestrtcted fvnds at tht end of the year totalled É62,920.10. Restrlcled funds at the end of the year totalkd £4035.00. The balance in the bank at the end of the year totamed £51,549.23. For further d•tails, pl$ see the b•low financlal statements. The trustees have adopted the Church of Engnd'S saftyuardlng polky, re19tlno to chlllrn, young peopk, and vulnerable aduf£s. Catherfne Forsdlke serves alongskle Matt Key as Safeguarding Officer, supported by the diocesan safeguardino officer. The trustees are ¢ommltted to best practice in safeguardlng, through the Implernentation of our pollcy, which Includes provislon l¢r DBS ¢he¢ks, safeguarding training, ser re¢rufcment, and practKal measures to protect everybody inVoed In and $eryed by Rer Church. Further detats and the full policy are CharY law requires the trustees to prepare a statement of flnanclal actfvitles and statement of assets and Ilabilkles for each financiil year. which gives a true and fair vlew of the 5tète of affairs of the church and of financial actNltles for that year, and adequately dlstinguishes any mater1 spec1 trust or other restrlcted fund of the ¢hurch. In prep8rlng those nnanclal statwnent$, the trustees are requlred to: select SUable accounting polIc$ and th•fi appty them cOn$L8tent. rnake Judgements and estlmates that are reasonable and prudent. state whether the poltle$ adopted are In accordance wfch the appropriate SORP on AccountlTrg by Charf(s and Accounting regulations and wf(h appllcable accountlng standards, subject to any material departur•s dbcknséd in th finan¢l 5tatment5- prepare th• ac¢ount$ on the golng tonctsrn basLs unless 6 Inapproprlate to pre$ume that the church wlll operate. The trustee5 are responsible for keeping proper a¢countSng records whl¢h di$¢losè, wlth reasonable accuracy at any time, the financlal posf(ion of the church, and to enabk them to ensure that the fiTrancial statements comply wh applkable Accountlng Standards and Statements of Re¢omrnendèd Prarti¢e and the rtgukitKins made und•r the Charf(les Art 2011. They are also responskble for safeguarding the assets of the church and hence for taking reasonable steps f¢r the preventlon and dete£tbn of fraud and other irre9uLaritles. On beha of the boar of trustees-. Amy Key Cljurch Leader and cha of TrnsteÉ% Matt Key urch Leaderand Vkn Chair of Trustee¥
RIVER CHURCH-IPSWICH (CHARITABLE INCORPORATED ORGANISATION) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2021
| Notes INCOMING RESOURCES Donations & Legacies 3a Charitable Activities 3b TOTAL INCOMING RESOURCES PAYMENTS Costs of Charitable Activities 4a NET INCOMING/(OUTGOING) RESOURCES Balances Brought Forward BALANCES CARRIED FORWARD TRANSFERS BETWEEN FUNDS NET MOVEMENT IN FUNDS RESOURCES EXPENDED |
Unrestricted Restricted Total Funds Funds 2021 £ £ £ 138,234 4,035 142,269 1,806 - 1,806 |
|---|---|
| 140,040 4,035 144,075 |
|
| 77,060 - 77,060 |
|
| 77,060 - 77,060 |
|
| 62,980 4,035 67,015 - - - |
|
| 62,980 4,035 67,015 |
|
| - - - |
|
| 62,980 4,035 67,015 |
All of the Charity's operations are classed as continuing operations.
The notes form part of these financial statements, found on pages:8 to 13
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RIVER CHURCH IPSWICH (CHARThABLE INCORPORATED ORGANISATION) BALANCE SHEET ASAT 31 DECEMBER 2021 UTrrestricted RestCted Fund Fund Total 314)ec•21 Notes Tanglble Assets Inv¥$tm•nt Assets 18,832 18,832 Current Asaets Debtors & Prepayments Cash ?I bank and In hand 3,547 47,514 3.547 51,549 4,035 Totsl Curr•nt As••ts Credltor•: amounts falllng due wlthin one year NET CURRENT ASSETS 6.913 6,913 44.148 4,035 48.183 TOTAL ASSETS kss current Ilabif£ 62,980 4,035 67,015 Crthlltor8: amounts folllng due Sn more one year io NET ASSEYS FUNDSOF THE CHARITY General Funds Restricted funds 62,980 62,980 4,935 4,035 TOTAL FUP4DS Approved by the TN$tee$ on Slgned on their beha by Trustee...... Printed Narne..
RIVER CHURCH-IPSWICH (CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2021
1. ACCOUNTING POLICIES
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year.
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 CIO 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 CIO's ability to continue as a going concern.
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
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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 resources 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 has been delivered.
Gifts in Kind
Gifts in kind are accounted for at a reasonable estimate of their value to the CIO 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 CIO. Gifts in kind for use by the CIO are included in the SOFA as income receivable.
Volunteer Help
The value of any voluntary help received is not included in the accounts and is described in the Report of the Trustees.
Donated Services and Facilities
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the CIO is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the CIO of the service or facility received.
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.
This page does not form part of the statutory financial statements
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RIVER CHURCH-IPSWICH (CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2021
1. ACCOUNTING POLICIES (continued)
Expenditure and Liabilities
Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the CIO 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 CIO 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 CIO.
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.
Pensions
Pension contributions are charged to the Statement of Financial Activities as they become payable.
Fund Accounting
Funds held by the charity are either:
1. Unrestricted funds
These are funds which can be used in accordance with the charity's objectives, at the discretion of the trustees.
2. Restricted funds
These are funds that can only be used for particular restricted purposes within the objects of the CIO.
3. Designated funds
These funds are funds set aside by the trustees out of unrestricted general funds for specific purposes or projects.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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, using the 1st year half year rule:-
Furniture & Fittings 25% Equipment 25%
This page does not form part of the statutory financial statements
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RIVER CHURCH-IPSWICH (CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2021
2. TANGIBLE FIXED ASSETS
| Additions Cost At 1 January 2021 At 31 December 2021 Accumulated Depreciation At 1 January 2021 Charge for the Year At 31 December 2021 Net Book Value At 31 December 2021 At 1 January 2021 |
Furniture & Fittings Equipment 2021 £ £ £ - - - 7,914 13,608 21,522 |
|---|---|
| 7,914 13,608 21,522 |
|
| - - - 989 1,701 2,690 |
|
| 989 1,701 2,690 |
|
| 6,925 11,907 18,832 |
|
| - - - |
The annual commitments under non-cancelling operating leases and capital commitments are as follows:
31st December 2021 : None
31st December 2020 : N/A
This page does not form part of the statutory financial statements
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RIVER CHURCH-IPSWICH (CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2021
3. INCOMING RESOURCES
| Note b) Incoming from Charitable Activities 4. RESOURCES EXPENDED Note Admin:Stationery, Consumables & postage a) Donations & Legacies Donations:Giving Donations:Other organisations Church planting fund balance Gift Aid Grants-Diocese Grants-Hobson Charity Grants-Other Grants-Other Organisations Merchandise Venue Hire a) Charitable Activities Admin:Insurance Admin:Licences & Subscriptions Admin:Office Equipment Communication-Branding & Website Finance: Book keeping/Payroll fees Finance: Bank charges Ministry Premises:Broadband & Phone Premises:CCT Rent Premises:Maintenance Salaries Employer's National Insurance Costs Pension Contributions Premises:Utilities Set up Costs Staffing:Expenses Governance costs:- Independent Examiner Fee |
Unrestricted Restricted Total Funds Funds 2021 £ £ £ 13,071 - 13,071 2,405 - 2,405 187 - 187 1,920 - 1,920 100,000 - 100,000 965 4,035 5,000 2,000 - 2,000 17,687 - 17,687 138,234 4,035 142,269 436 - 436 1,370 - 1,370 1,806 - 1,806 Unrestricted Restricted Total Funds Funds 2021 £ £ £ 1,512 - 1,512 1,313 - 1,313 120 - 120 178 - 178 686 - 686 128 - 128 12 - 12 2,324 - 2,324 86 - 86 3,750 - 3,750 294 - 294 2,634 - 2,634 43,439 - 43,439 70 - 70 12,961 - 12,961 3,297 - 3,297 887 - 887 678 - 678 |
|---|---|
| 77,060 - 77,060 |
This page does not form part of the statutory financial statements
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RIVER CHURCH-IPSWICH (CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2021
5. RESTRICTED FUNDS
| Hobson Grant Charity | Balance Gains & Balance 01-Jan-21 Income Expenditure (Losses) Transfer 31-Dec-21 £ £ £ £ £ - 4,035 - - - 4,035 |
|---|---|
| - 4,035 - - - 4,035 |
6. INVESTMENTS
The CIO held no investment assets during this or the previous financial period.
7. CASH AT BANK AND IN HAND
| Cash at bank and in hand | Unrestricted Restricted Total Funds Funds 31-Dec-21 £ £ £ 47,514 4,035 51,549 |
|---|---|
| 47,514 4,035 51,549 |
8. DEBTORS AND PREPAYMENTS
| Prepayment Sundry accounts receivable |
Unrestricted Restricted Total Funds Funds 31-Dec-21 £ £ £ 1,920 - 1,920 1,627 - 1,627 |
|---|---|
| 3,547 - 3,547 |
9. CREDITORS AND ACCRUALS AMOUNTS FALLING DUE WITHIN ONE YEAR
| Accounts Payable Independent Examiner's Fee |
Unrestricted Restricted Total Funds Funds 31-Dec-21 £ £ £ 6,235 - 6,235 678 - 678 |
|---|---|
| 6,913 - 6,913 |
This page does not form part of the statutory financial statements
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RIVER CHURCH-IPSWICH (CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2021
10. CREDITORS AND ACCRUALS AMOUNTS FALLING DUE IN MORE THAN ONE YEAR
The CIO held no long term liabilities during this or the previous financial period.
11. STAFF COSTS AND NUMBERS
| Gross Wages & Salaries Employer's National Insurance Costs Employer's Pension Contributions |
TOTAL 2021 £ 12,961 3,297 887 |
|---|---|
| 17,145 |
Average number of employees who were engaged in each of the following activities:
TOTAL 2021
Charitable Activities 2
The CIO operates a PAYE scheme to pay all employed members of staff and no employees received emoluments in excess of £60,000.
(2020 - N/A)
12. TRUSTEES AND OTHER RELATED PARTIES
No payments were made to trustees or any persons connected with them during this financial period. No material transaction took place between the organisation and a trustee or any person connected with them. (2020 - N/A)
13. RISK ASSESSMENT
The Trustees actively review the major risks which the CIO 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.
14. 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.
15. 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.
This page does not form part of the statutory financial statements
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RIVER CHURCH-IPSWICH (CHARITABLE INCORPORATED ORGANISATION) INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2021
Report to the trustees/ members of River Church-Ipswich on the accounts for the year ended 31st December 2021.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act,
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to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
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to state whether particular matters have come to my attention
Basis of independent examiner’s statement
My examination was carried out in accordance with general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention
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which gives me reasonable cause to believe that in, any material respect, the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
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have not been met; or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Donna Leppitt Independent Examiners Ltd Unit 2 The Broadridge Business Centre Delling Lane Bosham PO18 8NF Date: 22nd July 2022
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