## Providence Chapel, Chichester Report and Accounts Year ended 31 March 2024 1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk ## **PROVIDENCE CHAPEL, CHICHESTER** ## **LEGAL & ADMINISTRATIVE DETAILS** ## **FOR THE YEAR ENDED 31 MARCH 2024** ADDRESS FOR CORRESPONDENCE Chapel Street Chichester West Sussex PO19 1BU GOVERNING DOCUMENT Constitution dated 24 May 2021 CHARITY REGISTRATION NUMBER 1194577 TRUSTEES RESPONSIBLE FOR J A Pallister (appointed November 2023) MANAGING THE CHARITY H R Sayers Rev J M Saunders T L Risbridger INDEPENDENT EXAMINER Sarah Crispin ACA Stewardship 1 Lamb's Passage LONDON EC1Y 8AB ## **INDEX** Page 1 Legal & Administrative Details Pages 2-3 Trustees' Report Page 4 Independent Examiner's Report Page 5 Receipts and Payments Account Page 6 Statement of Assets & Liabilities Pages 7-8 Notes to the Accounts Page 1 ## **PROVIDENCE CHAPEL, CHICHESTER** ## **REPORT OF THE TRUSTEES** ## **FOR THE YEAR ENDED 31 MARCH 2024** ## **Objects of the charity** The charity, which is a church, is governed by a constitution and is constituted as a charitable incorporated orgnaisation. The charity's principal object, as set out in its governing document, is to advance the Christian faith in the area of West Sussex ## **Summary of the charity's main activities and achievements** To further the above objects and vision, the charity's main activities and achievements were as follows: Regular weekly worship services have been maintained on Sunday mornings and evenings and also on Wednesday evenings. Our Sunday School commenced in September 2023 which has proved to be a great blessing. The charity are most grateful to the Lord for new visitors coming to the Sunday services and for the blessing of the ministry of Pastor Jason Pallister. The Sunday school commenced in September 2023 and this has been a blessing and encouragement. All of the in-person worship meetings are open to members of the public. In planning the activities the Trustees have applied the guidance on public benefit issued by the Charity Commission. ## **Financial review** Income and expenditure have both increased compared to 2023 resulting in a deficit of £8,061 which is similar to the previous year. The Trustees are satisfied the funds are being maintained and are in line with the reserves policy. The principal sources of funding are from gifts from attendees at services and legacy donations ## **Reserves policy** The policy on reserves is to reinvest any surplus into the infrastructure of the charity, as well as supporting initiatives to encourage the advancement of the charity's objectives. The trustees confirm that reserves are to be maintained to a sum equivalent to not less than two years running costs. ## **Governance** Responsibility for setting policy and for making operating decisions rest with the trustees who meet regularly to monitor the activities of the charity. The appointment of new trustees is governed by and set out in the governing document. The power of appointing new trustees is vested in the current trustees. Page 2 ## **Responsibilities of trustees** Charity law requires us as Trustees to prepare financial statements for each accounting year which record the receipts and payments of the charity for the year. We are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable us to ensure that the financial statements comply with the Charities Act 2011. We also have a responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities. ## **Approval** This report was approved by the trustees and signed on their behalf by: Tim Risbridger ……………………………………………………….. Tim Risbridger (Oct 7, 2024 14:12 GMT+1) Tim Risbridger Oct 7, 2024 Date:_______________________ Page 3 ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF** ## **PROVIDENCE CHAPEL, CHICHESTER** I report to the trustees on my examination of the accounts of Providence Chapel, Chichester ('the charity') for the year ended 31 March 2024 on pages 5 to 8 following. ## **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 all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 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 accordance with section 130 of the 2011 Act; or 2. the accounts do not accord with the accounting records. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. Sarah Crispin (Oct 10, 2024 14:58 GMT+1)Sarah Crispin Sarah Crispin ACA Stewardship 1 Lamb's Passage LONDON EC1Y 8AB Date: Oct 10, 2024 Page 4 ## **PROVIDENCE CHAPEL, CHICHESTER** ## **RECEIPTS AND PAYMENTS ACCOUNT** ## **FOR THE YEAR ENDED 31 MARCH 2024** ||||||||Unrestricted|Funds||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| ||||||||General|Designated||Restricted||| ||||||||Funds||Funds|Funds|2023|2022| |||||||Notes|£||£|£|£|£| |**_Income receipts_**||||||||||||| |Donations|||||||26,528
||-
|-|26,528|24,061| |Gift aid receipts|||||||7,383||-|-|7,383|2,628| |Legacies|||||||-||-|-|-|5,000| |Interest income|||||||2,414||-|-|2,414|718| |**_Total receipts_**|||||||36,325||-|-|36,325|32,407| |**_Payments_**||||||||||||| |Payments
in
relation
to
activities undertaken directly||||charitable||2|40,847||-|-|40,847|39,149| |Grants
paid
in
relation
to
activities undertaken by others||||charitable|||2,940||-|-|2,940|1,370| ||||||||43,787||-|-|43,787|40,519| |Purchase of fixed assets|||||||598||-|-|598|-| ||||||||598||-|-|598|-| |||||||||||||| |**_Total payments_**|||||||44,385||-|-|44,385|40,519| |Net
of
receipts|/|(payments)|||before|||||||| |transfers|||||||(8,061)||-|-|(8,061)|(8,112)| |Transfers between funds||||||4|(1,430)
||-
|1,430|-
|-
| |**Net movement in**|**funds**||||||(9,491)||-|1,430|(8,061)|(8,112)| |Cash funds as at last||year|end||||131,450||-|(1,430)|130,020|138,132| |**Cash funds at this year end**||||||A|121,959
||-
|-|121,959|130,020| The notes on pages 7 - 8 form part of these accounts. Page 5 ## **PROVIDENCE CHAPEL, CHICHESTER** ## **STATEMENT OF ASSETS AND LIABILITIES FOR THE YEAR ENDED 31 MARCH 2024** |Notes
**A Cash funds**
Cash at bank with immediate access
**B Other monetary assets**
Gift aid due to charity
Other debtors
**C Liabilities**
**Falling due within one year**
Taxes due
Fee for Independent Examination
Accrued expenses|General
Designated
funds
funds
£
£
121,959
-
121,959
-
-
-
419
-
419
-
-
-
1,050
-
-
-
1,050
-
Unrestricted Funds|Restricted
funds
£
-
-
-
-
-
-
-
-
-|2023
£
121,959
121,959
5,371
419
5,790
-
1,050
-
1,050|2022
£| |---|---|---|---|---| |||||130,020| |||||130,020| |||||7,383
321| |||||7,704| |||||251
1,080
692| |||||2,023| ## **D Assets retained for charity's own use** |Freehold Property:
Manse
Chapel
Fixtures & fittings|Cost
£| |---|---| ||437,719
836,000
1,167| ||1,274,886| ## **E Guarantees and secured debts** The charity has not given any guarantees and has not provided its assets as security for any liabilities. The accounts were approved by the trustees and signed on their behalf by: Tim Risbridger Tim Risbridger (Oct 7, 2024 14:12 GMT+1) -------------------------------------------Tim Risbridger Date: __________ Oct 7, 2024 The notes on pages 7 - 8 form part of these accounts. Page 6 ## **PROVIDENCE CHAPEL, CHICHESTER** ## **NOTES TO THE ACCOUNTS** ## **FOR THE YEAR ENDED 31 MARCH 2024** ## **1 Accounting policies** The accounts have been prepared on a receipts and payments basis and comprise a statement that shows the charity's receipts and payments, a statement that summarises the charity's assets and liabilities and related notes. The accountancy profession have determined that only accounts prepared in accordance with applicable accounting standards present a 'true and fair' view and, as these receipts and payments accounts have not (and cannot) be prepared in accordance with accounting standards, these accounts do not present (and are not intended to present) a 'true and fair' view of the charity's financial activities and state of affairs. In the previous year, the charity presented accounts prepared on the accruals basis using the Charities SORP. However, as the charity is a charitable incorporated organisation, it has taken advantage of the option to prepare its accounts on a receipts and payments basis and the results reported previously have been restated; further information is given in note 6 below. 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. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects. |**2**
**Payments in relation to charitable activities undertaken directly**
Employment costs (see note 4)
Ministry & outreach expenses
Rent
Maintenance of buildings & equipment
Utilities
Insurance
Office costs
Legal & Professional fees
Independent examination|Unrestricted Fun
General
funds
£
22,724
2,150
600
3,828
3,638
1,769
2,558
2,501
1,080
40,847|ds
Designated
funds
£
-
-
-
-
-
-
-
-
-
-|Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-|Total
2023
£
22,724
2,150
600
3,828
3,638
1,769
2,558
2,501
1,080
40,847|Total
2022
£| |---|---|---|---|---|---| ||||||22,966
1,400
4,028
3,330
1,337
1,367
1,765
1,756
1,200| ||||||39,149| ## **3 Transactions with related parties** Jason Pallister served as church leader and was paid £22,724 for serving in that capacity, not for serving as trustees; these payments are permitted by the charity's governing document. In addition the charity incurred expenditure totalling £3,179 in respect of the provision of accommodation (which is customary for ministers) to Jason Pallister, who is a trustee so that they could better perform their duties. ## **4 Movement of funds** |**vement of funds**|||||| |---|---|---|---|---|---| |General funds
Restricted funds
Mission Fund
Total funds|Opening
balance
£
131,450
(1,430)
130,020|Receipts
£
36,325
-
36,325|Payments
£
(44,385)
-
(44,385)|Transfers
£
(1,430)
1,430
-|Closing
balance
£
121,959
-| ||||||121,959| The transfer from General funds to the Mission fund is to clear the deficit which was the result of mission support being paid in previous years in excess of restricted funds received. Page 7 ## **PROVIDENCE CHAPEL, CHICHESTER** ## **NOTES TO THE ACCOUNTS** ## **FOR THE YEAR ENDED 31 MARCH 2024** ## **5 Reconciliation with previously reported funds** As explained in note 1 'Accounting Policies', in the previous year the charity prepared its accounts using the accruals basis; in the current year the charity has taken advantage of the option to prepare its accounts on a receipts and payments basis. The comparatives presented in these accounts have been re-stated using the receipts and payments basis and a reconciliation with the reserves and results reported previously follows: ## _Reconciliation of reserves_ |_Reconciliation of reserves_||| |---|---|---| |Previously reported reserves, at 31 March
Adjustments arising from use of receipts and payments basis:
Exclusion of previously included fixed assets
Exclusion of previously included debtors
Exclusion of previously included creditors
Include bank overdraft
Re-stated reserves, at 31 March
Previously reported results
Adjustments arising from use of receipts and payments basis:
Previously capitalised expenditure, less depreciation, now expensed
Excluded movements in debtors resulting in the recognition of more / (less) income
Excluded movements in creditors resulting in the recognition of less / (more) expenditure
Re-stated results
_Reconciliation of results_|2023
£
1,402,375
(1,274,057)
(321)
3,453
(1,430)
130,020
2023
£
827,882
(835,888)
(16)
(90)
(8,112)|2022
£
574,493
(438,169)
(305)
3,473
(1,360)| |||138,132| |||| Page 8