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2021-03-31-accounts

Registered Charity Number:

209126

(England and Wales)

THE NEW CHURCH CHILDREN’S SOCIETY

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2021

THE NEW CHURCH CHILDREN’S SOCIETY

YEAR ENDED 31[ST] MARCH 2021

CONTENTS

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Page
Legal and Administrative information 1
Trustees Report 2-3
Independent Examiners Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Accounts 7-9
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THE NEW CHURCH CHILDREN’S SOCIETY YEAR ENDED 31[ST] MARCH 2021

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Dr Geoffrey Bentley Mrs Rosemary Bynam Mrs Susan Chesworth Mrs Charlotte Rowlands Mrs Christine Sutton Mr Nigel Sutton Mrs Judith Taylor Mr David Thomas

(Appointed 14[th] May 2020)

Charity Number England & Wales 209126

Principal Address 31 Station Road Hadleigh Suffolk IP7 5HX Independent Louise Rogers FCCA Examiner

Bankers Barclays Bank Plc Leicester LE87 2BB

1 THE NEW CHURCH CHILDREN’S SOCIETY YEAR ENDED 31[ST] MARCH 2021

TRUSTEES REPORT

The trustees present their report and financial statements for the year ended 31[st] March 2021.

Objectives and Activities

In accordance with its objects, the Society offers grants to families and other organisations to prevent or relieve poverty where children and young people are in need, hardship or distress; to enable those children to achieve their potential and have the prospect of becoming useful in the world. Priority is given to children with no active parent or a mother only. Preference is given to children with family connections to the New Church.

In making grants, the Trustees have had regard to the guidance issued by the Charity Commission on public benefit and being a charity for the prevention or relief of poverty, have satisfied the benefit aspects of public benefit.

Structure, Governance and Management

The Society, formerly known as the New Church Orphanage, was founded in London by E H Bayley in 1881. The Trust Deed and Constitution were dated 16[th] May 1883. The Constitution was revised and adopted in 1988 and varied in a scheme approved by the Charity Commission on 7[th] January 1991, from which time the society became known as The New Church Children’s’ Society.

Appointed Trustees are elected at a General Meeting of the Society.

The Office holders and the other members of the Board of Management are elected annually at the Annual General Meeting, with the Board having power to co-opt to fill vacancies.

The Board of Management is responsible for the conduct of the affairs of the Society and has met three times during the year, Power to take decisions between meetings is delegated to the Chairman (or in their absence, the President), the Secretary and the Treasurer working collectively; such decision are subject to ratification at the next Board meeting. Quarterly financial reports are distributed to all Board members. During the year the Board reviewed and reaffirmed the statement of operational practice for financial controls.

Grant support to families is paid direct in some instances and through a pastoral support visitor in others. Grants to institutions are paid direct.

Achievements and performance

Regular grants have been made during the year to support ten families in England and one abroad. These totalled £25,386 (2020: £17,550). Grants totalling £1,000 (2020: £1,500) have been made to organisations caring for disadvantaged children; supporting three Palestinian children under the card of ‘Embrace the Middle East’ and to the Loving arms Mission (working in Nepal). Support has continued for children and young people wishing to attend New Church Schools and conferences in the United Kingdom however due to COVID19 none of these events were able to take place. Grants totalling £2,010 were paid in 2020.

2

THE NEW CHURCH CHILDREN’S SOCIETY

YEAR ENDED 31[ST] MARCH 2021

TRUSTEES REPORT cont.

Specific grants totalling £28,173 (2020: £12,273) have been made to support two young people at university, to help with the repayments of outstanding debts, cash flow issues relating to the operation of the benefits system, contributions to legal fees and to provide other specific needs of families affected by a change in circumstances due to the COIVD-19 pandemic and other financial circumstances. Payments were made for the purchase of IT equipment, contributions towards heating costs over the winter and Christmas Gifts of £100 were given to all children supported by the Society.

Financial Review

The trustees are grateful to all those individuals and New Church Societies who continue to give to support the work of the Society each year. Total donations amounted to £15,889 (2020: £12,365). Investment income generated totalled £20,011 (2020: £22,353) which gave a total income of £35,900 (2020: £34,718).

The trustees agreed to utilise surplus unrestricted funds to ensure they were able to meet identified needs of all applications. This was felt to be particularly important during the world pandemic. This has therefore resulted in a reported deficit of £ (18,769) compared to a surplus of £956 in 2020. The balance of reserves held at 31[st] March 2021 was £846,712 (2020 : £737,275).

The Society’s accumulated fund is unrestricted and can be spent at the discretion of the trustees in the furtherance of the Society’s objectives. The trustees have not considered it necessary to alter that discretion be setting a restriction on the use of its unrestricted funds.

Future Plans

The main focus of the charity will be to continue to support those families in financial difficulty with particular attention and support to be provided due to the forthcoming increase in general costs of living and the impact of COVID-19.

The trustee report was approved by the Board of Trustees on 9[th] October 2021.

Mrs C Sutton Trustee

3

THE NEW CHURCH CHILDREN’S SOCIETY YEAR ENDED 31[ST] MARCH 2021

INDEPENDENT EXAMINERS REPORT

Responsibilities and basis of report

I report to the trustees on my examination of the accounts of The New Church Children’s Society (“the Trust”) for the year ended 31[st] March 2021.

As the charity's 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 Trust’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 which gives me cause to believe that in, any material respect:

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.

Louise Rogers FCCA 29[th] October 2021

4

THE NEW CHURCH CHILDREN’S SOCIETY YEAR ENDED 31[ST] MARCH 2021

STATEMENT OF FINANCIAL ACTIVITIES Including Income and Expenditure Account

Note
s
Income From:
Donations and legacies
Investments
Total Income
Expenditure on:
Charitable Activities
-
Grants to individuals –
General
-
Grants to individuals –
Specifc
-
Grants to Institutions
-
Educational Grants
Administrative Expenses
Total Expenditure
Net Income/(Expenditure)
Net gains/(losses) on investments
2
Net income/(expenditure) in
the year/Net movement in
funds
Fund balances at 1stApril 2020
Fund balances at 31stMarch 2021
5		 Unrestric
ted
Funds
£
15,889
20,011
35,900
25,386
28,173
1,000
-
110
54,669
(18,769)
128,206
109,437
737,275
846,712		 Total
2021
£
15,88
9
20,01
1
35,90
0
25,38
6
28,17
3
1,000
-
110
54,66
9
(18,76
9)
128,2
06
106,4
90
737,2
75
846,7
12		 Total
2020
£
12,365
22,353
34,718
17,550
12,273
1,500
2,010
429
33,762
956
(34,155)
(33,199)
770,474
737,275

5 THE NEW CHURCH CHILDREN’S SOCIETY YEAR ENDED 31[ST] MARCH 2021

BALANCE SHEET As at 31[st] March 2021

Not
es
Fixed Assets
Investments
2
Current Assets
Debtors
3
Cash at bank
Current Liabilities
Net current assets/
(liabilities)
Total assets less current
liabilities
Charity Funds
Unrestricted funds
5
Revaluation Reserve
5
Total Charity Funds
5		 2021
£
£
813,43
6
4,690
28,58
6
33,27
6
-
33,276
846,71
2
427,49
5
419,21
7
846,71
2		 2020
£
£
685,230
5,209
46,836
52,045
-
52,045
737,275
446,264
291,011
737,275		 2020
£
£
685,230
5,209
46,836
52,045
-
52,045
737,275
446,264
291,011
737,275
737,275
446,264
291,011
737,275

The financial statements were approved by the trustees on 9[th] October 2021.

Mrs C Sutton Trustee

6 THE NEW CHURCH CHILDREN’S SOCIETY YEAR ENDED 31[ST] MARCH 2021

NOTES TO THE FINANCIAL STATEMENTS

1. Accounting Policies

Accounting convention

The accounts have been prepared in accordance with the charity’s governing document and ‘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 charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

These accounts have been prepared on a going concern basis. The full impact that the COVID-19 pandemic may have on the long term operations and finances of the charity are unknown at this point. However at the time of approving the financial statements, having assess all available information, the trustees have a reasonable expectation that the charity has adequate resources to continue in existence for the foreseeable future.

Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. The charity does not currently have any restricted funds.

Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Income from donations is recognised when there is evidence of entitlement to the gift, receipt is probable, and its amount can be measured reliably.

Expenditure

Resources expended are accounted for on a accrual’s basis.

Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/ (expenditure) for the year.

7

THE NEW CHURCH CHILDREN’S SOCIETY YEAR ENDED 31[ST] MARCH 2021

NOTES TO THE FINANCIAL STATEMENTS

2. Investments

Cost of valuation at 1stApril 2020
Net gains/(losses) on investments
Cost or valuation at 31stMarch 2021
Investment Details:
20,448 units – COIF Investment Income
Fund
37,037 units – COIF Fixed Interest Fund
40,627 units – General Conference of the
New Church Common Investment Fund		 2021
£
685,230
128,206
813,436
2021
£
366,559
49,911
396,966
813,436		 2020
£
719,38
6
(34,156
)
685,23
0
2020
£
306,32
3
50,600
328,30
7
685,23
0

3. Debtors

Prepayments
Accrued Income		 2021
£
-
4,690
4,690		 2020
£
3,022
2,187
5,209

4. Trustees Remuneration

None of the trustees received any remuneration during the year or received any other benefits from the charity.

Travel expenses totalling £nil (2020: £254) were reimbursed to any trustees. (2020: 3)

8

THE NEW CHURCH CHILDREN’S SOCIETY YEAR ENDED 31[ST] MARCH 2021

NOTES TO THE FINANCIAL STATEMENTS

5. Net Movement in Funds

Unrestricted
funds
Revaluation
Reserve		 Balance at
1st April
2020
Net
movement in
funds
Net gains/
(losses)
Balance
at 31st
March
2021
£
£
£
£
446,264
(18,769)
-
427,495
291,011
-
128,206
419,217
737,275
(18,769)
128,206
846,712