Waterbrook Church CIO
Trustees Report and Financial Statements for the year ended 31 December 2023 Registered number 1200990
Waterbrook Church CIO 31 December 2023
Contents
| Annual Trustees’ Report | 3-5 |
|---|---|
| Independent Examiner's Report | 6 |
| Income and Expenditure Account and Balance Sheet | 7 |
| Notes to the Accounts | 8 |
Waterbrook Church CIO 31 December 2023
Annual Trustees’ report
Administrative Details of the Charity
Waterbrook Church CIO (“the Charity”) was registered with the Charity Commissioners under number 1200990 on 11 November 2022. The trustees who served in the year were the first trustees of the Charity.
On 31 December 2022 the activities, assets, and liabilities of the charity known as the Waterbrook Christian Charitable Trust (WCCT) registered number 801502 were transferred to the Charity. On 8[th] December 2023 this transfer was registered by the Charity Commission as a merger and therefore WCCT was removed from the Register of Charities. The Charity has continued to undertake the charitable activities formerly undertaken by WCCT.
The principal address for correspondence and registered office is 14 Northwoods Walk, Bristol. BS10 6LS.
Trustees who served during the year ended 31[st] December 2023 were:
Steve Cole, Paul Currer, Tony Davies, Jon Drew, Meriel Forshaw, Martin Harris (retired on 19[th] October 2023), Doreen Lloyd, Kate Robinson and Angela Windsor (chair).
Apart from Martin Harris these were all trustees at the date the report was approved, and no other person served as a trustee during the year.
The Independent Examiner is Funsho Ojo ACA 24 Cabot Rise, Portishead, Bristol BS20 6NX.
Structure, Governance and Management
The Charity is a Charitable Incorporated Organisation registered with the Charity Commission on 11[th] November 2022.
The Constitution requires there to be a minimum of four trustees but no maximum. A quorum exists if at least two trustees, or a third of the total number of trustees, whichever is greater, are present at the trustees’ meeting. Although not specified in the constitution, the trustees meet at least quarterly to review the affairs and determine the actions of the Charity.
New trustees may be appointed by a 75% majority decision of the existing trustees.
The church’s activities are led by a Senior Church leader supported by a pastoral team. The Senior church leader is also a trustee.
The trustees have appointed a Finance Committee to oversee the finance and administration aspects of the trust and a Missions Committee to oversee the missions support work of the trust.
Apart from Kate Robinson who serves as the church administrator, the trustees are not remunerated by the Charity.
The trustees have had regard to the Charity Commissioners guidance on public benefit.
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Waterbrook Church CIO 31 December 2023
Annual Trustees’ report (continued)
Charity’s Purpose
The Charity’s purpose is the advancement of the Christian faith in accordance with its Basis of Faith in such part of the United Kingdom or the world as the trustees may from time to time think fit, including through providing services for prayer and worship, pastoral care and outreach work.
Activities
The Charity fulfils its purpose through the ministry of a local Church and through making grants to individuals and organisations who are involved in activities which are aligned with its purpose.
Regular Sunday morning meetings were held throughout the year at Stapleton and Begbrook Community Association as well as discipleship, prayer, bible study and youth meetings taking place in homes. The Charity has a website www.waterbrook.org.uk where its ministry can be seen in more detail.
The main organisations the Charity has supported in 2023, all of which seek to further the Christian faith, are: DCM Ministries in particular the children’s home they run based in India, SIFT (www.seed-trust.com.), which is involved in ministering to the poor and distressed in Ometepe Nicaragua with a special emphasis in providing health, education and sustainable livelihoods, UNIVIDA (www.univida.org) which assists young people in Fortaleza, Brazil with additional education to help them stay out of gangs and degrading occupations. In addition to this there is the regular support for pastors and help with one off projects for churches in countries where the local congregations find it hard to support the ministries such as Kollom, India where the Charity has a close link with the Spring Valley Church and Iasi, Romania, where the Charity has a close link with the Filadefia church (www.ccis.ro), as well as Daniel and Anna Cherian who minister in Rajastan, India and other ministries in Peru and Singapore.
The trustees limit the number of organisations the Charity is regularly involved with to a manageable number so that the Charity can be a meaningful partner to these Christian projects and ministries both in the UK and elsewhere. In this way the Charity can keep in contact and have an ongoing involvement. These ministries maintain regular correspondence with the trustees and this is reviewed at the quarterly Mission Committee meeting with recommendations made to the Trustees for financial support. In this way the trustees understand the projects involved and the work that the Charity is supporting. Where support is requested for one off special projects from other organisations, whose activities are consistent with the Charity’s purpose, this request is considered by the Missions Committee on the lines above and decisions are made after prayerful consideration. In 2023 the Charity had visits from Graham Knight (SIFT), Steve Chaudhary (DCM) and Daniel Cherian .
The Charity does not fund raise. It’s income derives principally from regular gifts from church members.
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Waterbrook Church CIO 31 December 2023
Annual Trustees’ report (continued)
The Charity has been throughout this year seeking to recruit a replacement for the Senior Church leader, as at the date of this report this process is ongoing, but the Trustees are hopeful an appointment will be made over the next few months. The church pastor oversees the ministry aspects of the church alongside an active pastoral team. Each church member is encouraged to exercise their own giftings in serving and caring for the church and community.
If a suitable property became available, the Charity would consider the appropriateness of acquiring it. This would enable the Charity to have a fixed base for the church to operate throughout the week and to do more community-based work.
Financial Review
During the year the Charity had receipts of £77,957 and payments of £45,149 as set out on page 7.
Reserves Policy
The trustees reserve policy recognizes that the Charity requires financial reserves in order to:
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be in a position to be able to own premises at some future date. This would enable the
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charity to have a fixed base for the church to operate from and given current values in the property market, a significant deposit will be required to achieve this.
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support missionaries and other organizations on an ongoing and regular basis. The trustees
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also want to be able to support other worthwhile projects from time to time.
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Waterbrook has a regular financial commitment for a Church Administrator and will soon
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have one for a Senior Church Leader and needs financial reserves to support this.
All the above requires a reserves policy. Although not formally separated the level of reserves as at 31 December 2023 of £223,475 has a property fund element to it of around £140,000 and a current reserves element to it of around £80,000. The Trustees’ current view is that a level of reserves of £80,000 is appropriate, representing about 12 month’s forecast expenditure.
…………………………………………
Angela Windsor 25[th] January 2024 Chairman on behalf of the Trustees
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Waterbrook Church CIO 31 December 2023
Independent Examiner’s Report For the Year Ended 31 December 2023
I report to the trustees on my examination of the accounts of the Waterbrook Church CIO (“The Charity”) for the year ended 31 December 2023.
Responsibilities and basis of report
As the Charity 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 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 the Charity as required by section 130 of the Act; or
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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.
Funsho Ojo ACA 21 February 2024
24 Cabot Rise, Portishead, Bristol BS20 6NX
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Waterbrook Church CIO 31 December 2023
Receipts and Payments for the year ended 31 December 2023
| 2023 Receipts £ Total Voluntary receipts Funds Donations 62,493 Gift Aid tax receipts 6,873 69,366 Investment Income Interest Received 8,591 Total Receipts 77,957 Payments Grants and ministry gifts 26,707 Rent for meeting place. Church staff costs 4,560 6,677 Relief Fund and small gifts. 1,609 Website, licences and printing 1,530 Church other costs 4,066 Total Payments 45,149 Net Receipts/(Payments) 32,808 Fund Balances brought forward - Assets transferred from Waterbrook Charitable Christian Trust 190,667 Fund Balances carried forward 223,475 Statement of Assets and Liabilities as at 31 December 2023 £ Current Assets Cash at Bank 223,475 Total 223,475 |
2022 £ Total Funds - - - - |
|---|---|
| - | |
| - - - - - - - |
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| - - |
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| - | |
| - | |
| £ - - |
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Angela Windsor Chairman on behalf of the Trustees 25[th] January 2024
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Waterbrook Church CIO 31 December 2023
Notes to the Accounts for the year ended 31 December 2023
1. Accounting policies
Basis of preparation
The financial statements have been prepared on a receipts and payments basis under section 133 of the Charities Act 2011.
Equipment purchased costing under £1,000 per item is written off to the receipts and payments account.
2. Funds
All funds are unrestricted. Movement in funds in the year:
| Reserves brought forward Transfer from Waterbrook Christian Charitable Trust Income Expenditure Reserves carried forward |
2023 2022 £ £ - - 190,667 - 77,957 - (45,149) - 223,475 - |
|---|---|
3. Employees’ Remuneration
From 1 August 2022 the Charity employed an Administrator on a part time basis. In the 12 months to 31 December the remuneration was £6,677.
4. Trustees’ Remuneration and Expenses.
No remuneration was paid to the trustees other than noted in note 3. The trustees were not reimbursed any expenses.
5. Related Party Transactions
A trustee is also a trustee of The George Muller Charitable Trust (GMCT) a Christian ministry which is incorporated as a Limited Company and registered in the UK as a Charity (charity number 1066832). Several of the ministries supported by the Charity receive their funds through the ministry of GMCT. GMCT does not charge the Charity for this service.
Another trustee is connected with Charmian and Dennis Arevalo, pastors in a church in Lima, Peru. Support of £4,420 was provided to them in 2023.
In cases where a trustee is connected with a charity or ministry who receives financial support, the trustee is not a party to the decision to give the support.
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