**Charity Registration No. 233390**
**Company Registration No. 649091 (England and Wales)**
# **THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 30 SEPTEMBER 2021**
## **THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)**
## **CONTENTS**
||**Page**|
|---|---|
|Legal and administrative information|1|
|Council's report|2 - 3|
|Independent examiner's report|4|
|Statement of financial activities|5 - 6|
|Balance sheet|7|
|Notes to the accounts|8 - 18|
## **THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
The Council presents their ninety -seventh Annual Report together with the independently prepared Accounts for the year ended 30th September 20 2 1.
|**Honorary President**|Wade Miller-Knight|
|---|---|
|**Council Members**|Rev. Michael Allured (Chair)|
||Jacqueline Woodman (Vice Chair)|
||Bruce Bebington|
||Carol Chambers|
||Eleanor Chiari|
||Shana Begum|
||Robin Hanford|
|**District Minister**|Rev. James Corrigall|
|**Finance Officer**|Bruno Martin|
|**Secretary**|Bruce Bebington|
|**Charity number**|233390|
|**Company number**|649091|
|**Registered office**|Essex Hall|
||1-6 Essex Street|
||Strand|
||London|
||WC2R 3HY|
|**Independent examiner**|Shaw Gibbs Limited|
||264 Banbury Road|
||Oxford|
||OX2 7DY|
|**Bankers**|CAF Bank Limited|
||25 Kings Hill Avenue|
||Kings Hill|
||West Malling|
||Kent|
||ME19 4JQ|
- 1 -
## **THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)**
## **COUNCIL'S REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
## **Structure, governance and management**
## **Organisation**
A board of up to ten council members who met six times during the year administers the charity.
## **Introduction to list trustees**
The Council members, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Rev. Michael Allured Jacqueline Woodman Bruce Bebington Carol Chambers Eleanor Chiari Shana Begum Robin Hanford
## **Risk management**
The Directors have examined the major strategic and operational risks, which the charity faces and confirms that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.
## **Public benefit**
The Trustees take into account the Charity Commission guidance on public benefit and believe that the activities of the Charity are in line with that guidance.
## **Objectives and activities**
The Assembly’s objectives are the following:
a) To promote the spread of religious ideas usually described as Unitarian or Free Christian; b) To promote fellowship among the congregations and individual Unitarians in the area;
c) To assist weak congregations;
d) To encourage the formation of new congregations;
e) To do all such other lawful things as are incidental to the above objects or any of them.
## **Achievements and performance**
The Council is satisfied with the results for the year.
## **Governing document disclosure**
The charity is governed by a memorandum and articles incorporated.
- 2 -
## **THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)**
## **COUNCIL'S REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
## **Financial review**
Details of incoming resources and resources expended are shown in the Statement of Financial Activities on pages 4/5 of the financial statements. The Charity’s primary source of income from listed investments has fallen by 5% but this has been more than outweighed by the capital growth of the investment portfolio. Sales of listed investments yielded a small surplus to fund grants during the year to member churches. Expenditure on charitable activities and administration remains in line with previous years.
## **Investment policy**
The Trustees continue a policy of transferring the investment portfolio in both the unrestricted and designated funds to a wholly ethical basis. On the advice of our professional fund managers, the new portfolio emphasises capital growth, and is internationally weighted. This resulted in the year in a very substantial unrealised gain in the portfolio.
## **Reserves policy**
It is the policy of the LDPA to maintain unrestricted and non-designated funds, which are the free reserves of the charity, at a level, which equates to approximately six months unrestricted expenditure. This provides sufficient funds to cover management and administration and support costs and to respond to emergency applications for grants arising from time to time. Unrestricted funds were maintained at this level throughout the year.
On behalf of the Council
**Carol Chambers** Member Dated: 17 April 2022
**Bruce Bebington** Secretary Dated: 17 April 2022
- 3 -
## **THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)**
## **INDEPENDENT EXAMINER'S REPORT**
**TO THE COUNCIL MEMBERS OF THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)**
I report to the Council members on my examination of the financial statements of The London District And South Eastern Provincial Assembly Of Unitarian And Free Christian Churches (Incorporated) (the charity) for the year ended 30 September 2021.
## **Responsibilities and basis of report**
As the Council members of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act) . 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 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 386 of the 2006 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
- 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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 financial statements to be reached.
Samantha Daniels FCA for and on behalf of Shaw Gibbs Limited 264 Banbury Road Oxford OX2 7DY
Dated: 21 April 2022
- 4 -
## **THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
|**Unrestricted Unrestricted**
**Restricted**
**funds**
**funds**
**funds**
**general d esignated**
**2021**
**2021**
**2021**
**Notes**
**£**
**£**
**£**
**Income from:**
Voluntary income
**2**
525
-
-
Charitable activities
Development fund
-
2,862
-
Kent ministry fund
-
-
-
Investments
**3**
32,614
11,445
13,147
**Total income**
33,139
14,307
13,147
**Expenditure on:**
**4**
Raising funds
Rental expenses
799
-
-
Investment management
10,356
5,033
-
11,155
5,033
-
Charitable activities
Grants to churches
11,273
-
10,700
District minister costs
46,818
10,453
-
Development programme
-
4,430
-
Kent ministry fund
-
-
-
Administrative costs
9,411
16,807
-
Northiam fund
-
-
-|**Total**Unrestricted Unrestricted
Restricted
funds
funds
funds
general
d esignated
**2021**
2020
2020
2020
**£**
**£**
**£**
**£**
525
380
-
-
2,862
-
19,661
-
-
-
-
9,000
57,206
33,659
10,842
16,152
60,593
34,039
30,503
25,152
799
858
-
-
15,389
10,414
4,730
-
16,188
11,272
4,730
-
21,973
17,050
-
9,525
57,271
42,371
11,403
-
4,430
-
14,654
-
-
-
-
28,514
26,218
14,847
11,998
-
-
-
-
114,924|Total
2020
**£**
380
19,661
9,000
60,653
89,694
858
15,144
16,002
26,575
53,774
14,654
28,514
26,845
114,924|
|---|---|---|
- 5 -
## **THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)**
## **STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
|**Total charitable expenditure**
**Total resources expended**
Net gains/(losses) on investments
**8**
**Net incoming/(outgoing) resources before**
**transfers**
**Net incoming/(outgoing) resources before**
**transfers**
Gross transfers between funds
**9**
**Net movement in funds**
Fund balances at 1 October 2020
**Fund balances at 30 September 2021**|67,502
78,657
157,824
112,306
112,306
(1,568)
110,738
1,194,282
1,305,020|31,690
36,723
74,200
51,784
51,784
1,568
53,352
620,532
673,884|10,700
10,700
-
2,447
2,447
-
2,447
298,575
301,022|109,892
126,080
232,024
166,537
166,537
-
166,537
2,113,389
2,279,926|74,268
85,540
18,979
(32,522)
(32,522)
(66,036)
(98,558)
1,292,840
1,194,282|38,055
42,785
11,530
(752)
(752)
55,352
54,600
565,932
620,532|152,963
152,963
-
(127,811)
(127,811)
10,684
(117,127)
415,702
298,575|265,286
281,288
30,509
(161,085)
(161,085)
-
(161,085)
2,274,474
2,113,389|
|---|---|---|---|---|---|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities; such as the development fund income which this year all arises from the charity's Festival of Unitarians in the South-East.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 6 -
## **THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)**
## **BALANCE SHEET**
## _**AS AT 30 SEPTEMBER 2021**_
|**Notes**
**Fixed assets**
Investment properties
**10**
Investments
**11**
**Current assets**
Debtors
**12**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**13**
Net current assets
**Total assets less current liabilities**
**Income funds**
Restricted funds
**14**
Unrestricted funds - designated
**15**
Unrestricted funds - general|**2021**
**£**
**£**
400,000
1,772,460
2,172,460
1,821
117,099
118,920
(11,454)
107,466
2,279,926
301,022
673,884
1,305,020
2,279,926|**2020**
**£**
**£**
400,000
1,595,403
1,995,403
5,005
122,924
127,929
(9,943)
117,986
2,113,389
298,575
620,532
1,194,282
2,113,389|
|---|---|---|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 September 2021.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Council Members on 15 April 2022
Carol Chambers **Trustee**
Bruce Bebington **Secretary**
**Company Registration No. 649091**
- 7 -
## **THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
## **1 Accounting policies**
## **Charity information**
The London District And South Eastern Provincial Assembly Of Unitarian And Free Christian Churches (Incorporated) is a private company limited by guarantee incorporated in England and Wales. The registered office is Essex Hall, 1-6 Essex Street, Strand, London, WC2R 3HY.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006 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 is a Public Benefit Entity as defined by FRS 102.
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 a mounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the Council members have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Council members continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the Council members in furtherance of their charitable objectives.
Designated funds comprise funds which have been set aside at the discretion of the Council members for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements .
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
## **1.4 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.
## **1.5 Expenditure**
Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT, which cannot be recovered.
- 8 -
## **THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
## **1 Accounting policies**
## **(Continued)**
## **1.6 Investment properties**
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.
The property is treated as 45.6% general funds as this is the percentage which LDPA owns for its general use, and 54.4% restricted funds as this is the amount related to the other beneficial owners. The income received is split between the charity and the other beneficial owners.
## **1.7 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 . Transaction costs are expensed as incurred.
## **1.8 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.9 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity 's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
- 9 -
## **THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
|**2**
**Voluntary income**
Personal subscriptions
Corporate subscriptions
**Personal subscriptions**
Alan Ruston
Jim McClelland
John Crosskey
D Lawther
Martin Whitell
**Corporate subscriptions**
Rosslyn Hill Unitarian Chapel|**2021**
**£**
125
400
525
15
-
40
20
50
125
400
400|**2020**
**£**
80
300
380
15
25
40
-
-
80
300
300|
|---|---|---|
- 10 -
## **THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
## **3 Investments**
|**Unrestricted Unrestricted**
**Restricted**
**funds**
**funds**
**funds**
**general d esignated**
**2021**
**2021**
**2021**
**£**
**£**
**£**
Rental income
8,800
-
-
Income from listed investments
19,229
11,445
13,147
Interest receivable
4,585
-
-
32,614
11,445
13,147|**Total**Unrestricted Unrestricted
Restricted
funds
funds
funds
general
d esignated
**2021**
2020
2020
2020
**£**
£
£
£
8,800
9,600
-
-
43,821
18,946
10,842
16,152
4,585
5,113
-
-
57,206
33,659
10,842
16,152|Total
2020
£
9,600
45,940
5,113
60,653|
|---|---|---|
- 11 -
## **THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
|4
**Direct charitable expenditure: grants**
**Unestricted funds**
Northiam Chapel
Golders Green Unitarians
Lewisham Unitarians
Simple Gifts
Dover Unitarians
Ditchling Unitarians
Chatham Unitarians
The Inquirer Grants
Other grants issued
**Restricted funds**
Richmond/Putney - ex Putney Church Fund
Stratford - ex Iford Church Fund|**2021**
**£**
4,773
3,000
1,500
2,000
-
-
-
-
-
11,273
**2021**
**£**
6,700
4,000
10,700|**2020**
**£**
-
3,000
-
3,000
3,000
2,000
500
1,200
4,350
17,050
**2020**
**£**
5,025
4,500
9,525|
|---|---|---|
|**5**
**District minister costs**
**Unrestricted Unrestricted**
**funds**
**funds**
**general**
**d esignated**
**£**
**£**
Stipend
30,006
-
Housing allowance
-
10,453
Social security costs
880
-
Pension costs
4,046
-
Total salary costs
34,932
10,453
Travel and sundry costs
11,886
-
46,818
10,453|**Total**
**2021**
**£**
30,006
10,453
880
4,046
45,385
11,886
57,271|**Total**
**2020**
**£**
32,213
11,403
1,753
4,961
50,330
3,444
53,774|
|---|---|---|
During the year the company had one employee (2020: one employee).
- 12 -
## **THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
## **6 Council Members**
None of the Council members (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## **7 Employees**
The average monthly number of employees during the year was:
|**2021**|**2020**|
|---|---|
|**Number**|**Number**|
|1|1|
## **8 Net gains/(losses) on investments**
|**Unrestricted Unrestricted**
**funds**
**funds**
**general d esignated**
**2021**
**2021**
**£**
**£**
Revaluation of
investments
151,817
72,242
Gain/(loss) on sale of
investments
6,007
1,958
157,824
74,200|**Total**Unrestricted Unrestricted
funds
funds
general
d esignated
**2021**
2020
2020
**£**
£
£
224,059
(19,424)
1,120
7,965
38,403
10,410
232,024
18,979
11,530|Total
2020
£
(18,304)
48,813
30,509|
|---|---|---|
## **9 Transfers**
Following the closure of Northiam Unitarian Chapel, the trustees have accepted the former chapel property in full payment for the outstanding loan of £155,000. The difference between its estimated value and £155,000 is shown within incoming resources.
## **10 Investment property**
||**2021**|**2020**|
|---|---|---|
||**£**|**£**|
|**Fair value**|||
|At 1 October 2020 and 30 September 2021|400,000|400,000|
- 13 -
## **THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
## **10 Investment property**
**(Continued)**
The fair value of the investment property has been arrived at on the basis of a valuation carried out in August 2017 by Rush, Witt and Wilson Residential and Commercial Estate Agents, who are not connected with the charity. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
The council members do not consider that the current market value is significantly different, but intend to obtain a formal valuation in the coming year.
## **11 Fixed asset investments**
|**Common**
**Investment**
**Fund**
**Manse fund**
**£**
**£**
**Cost or valuation**
At 1 October 2020
1,079,179
516,224
Additions
145,936
70,909
Valuation changes
151,816
72,242
Disposals
(181,362)
(82,484)
At 30 September 2021
1,195,569
576,891
**Carrying amount**
At 30 September 2021
1,195,569
576,891
At 30 September 2020
1,079,179
516,224|**Total**
**£**
1,595,403
216,845
224,058
(263,846)
1,772,460
1,772,460
1,595,403|
|---|---|
## **12 Debtors**
|**Amounts falling due within one year:**
Other debtors
**Creditors: amounts falling due within one year**
Trade creditors
Other creditors
Accruals and deferred income|**2021**
**£**
1,821
**2021**
**£**
1,152
1,601
8,701
11,454|**2020**
**£**
5,005
**2020**
**£**
1,012
3,979
4,952
9,943|
|---|---|---|
## **13 Creditors: amounts falling due within one year**
- 14 -
**THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
## **14 Restricted funds**
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
|||**Movement**|**in funds**||
|---|---|---|---|---|
||**Balance at**|**Incoming**|**Expenditure**|**Balance at**|
||**1 October 2020**|**Resources**||**30 September**|
|||||**2021**|
||**£**|**£**|**£**|**£**|
|Permanent Chapel Building Fund|58,259|-|-|58,259|
|Ilford Church Fund|15,554|5,977|(4,000)|
17,531|
|Putney Church Fund|7,162|7,170|(6,700)|
7,632|
|Northiam Fund|217,600|-|-|217,600|
||298,575|13,147|(10,700)|
301,022|
## **15 Designated funds**
The income funds of the Charity include the following designated funds, which have been set aside out of unrestricted funds by the trustees for specific purposes:
Manse Fund – to defray costs of housing provision for the District Minister;
Development Fund – to support initiatives designed to strengthen the Unitarian presence within the LDPA area.
|||**Movement in funds**|**Movement in funds**|**Movement in funds**||
|---|---|---|---|---|---|
||**Balance at**|**Incoming**|**Expenditure**|**Transfers,**|**Balance at**|
||**1 October 2020**|**Resources**||**Gains, Losses**|**30 September**|
||||||**2021**|
||**£**|**£**|**£**|**£**|
**£**|
|Manse Fund - Capital|544,160|-|(5,033)|
74,200|
613,327|
|Manse Fund - Income Account|76,372|11,445|(27,260)|
-|
60,557|
|Development Fund|-|2,862|(4,430)|
1,568|
-|
||620,532|14,307|(36,723)|
75,768|
673,884|
|The capital of the Manse Fund||||||
|comprises:||||||
|Market value of fixed asset investments|held||||576,892|
|Capital awaiting investment|||||36,435|
||||||613,327|
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## **THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
## **16 Analysis of net assets between funds**
|**Unrestricted**
**Fund**
**Designated**
**Funds**
**Restricted**
**Funds**
**2021**
**2021**
**2021**
**£**
**£**
**£**
Fund balances at 30 September 2021 are
represented by:
Investment properties
182,400
-
217,600
Investments
1,195,568
576,892
-
Current assets/(liabilities)
(72,948)
96,992
83,422
1,305,020
673,884
301,022|**Total**Unrestricted
Fund
Designated
Funds
**2021**
2020
2020
**£**
£
£
400,000
182,400
-
1,772,460
1,079,179
516,224
107,466
(67,297)
104,308
2,279,926
1,194,282
620,532|Restricted
Funds
2020
£
217,600
-
80,975
298,575|Total
2020
£
400,000
1,595,403
117,986
2,113,389|
|---|---|---|---|
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**THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
## **17 Illford Church fund**
A capital sum, arising from the disposal of the Ilford Church premises, managed by the British and Foreign Unitarian Association (In corporated), with the income paid to the LDPA. In any year, this income is to be devoted to the Unitarian cause in the London District, priority being given to the Greater London Boroughs north of the Thames and east of Tower Hamlets, and to the County of Essex. Any income unspent on these purposes at the end of the financial year to be available for general LDPA purposes.
||**2021**|**2020**|
|---|---|---|
||**£**|**£**|
|Received from B & FUA|5,977|7,340|
|Paid to Illford Church|(4,000)|(4,500)|
|Balance to LDPA Funds|1,977|2,840|
## **18 Putney Church fund**
The capital of this fund derives from the sale of the Putney Church premises, plus the Church’s investments. This is managed by the British & Foreign Unitarian Association (Incorporated), which pays the income to the LDPA. Priority claim on that income is to meet the needs of the Richmond and Putney Unitarian congregation; any surplus to be available for general LDPA purposes.
||**2021**|**2020**|
|---|---|---|
||**£**|**£**|
|Received from B & FUA|7,170|8,812|
|Paid to Richmond/Putney|(6,700)|(5,025)|
|Balance to/(from) LDPA Funds|470|3,787|
- 17 -
## **THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
## **19 Pensions**
Following the appointment of the current District Minister in June 2021, the Charity doesn’t currently participate in the Ministers Pension Fund Scheme.
The current District Minister elected to have his pension contributions paid into a Self-Invested Private Pension administered via an independent financial advisor.
For the previous District Minister, t he Charity did participate in the Ministers Pension Fund Scheme, which is a defined benefit scheme. The Charity ha d one employee participating in the scheme. The assets of the scheme are held separately from those of the Charity and are administered by the Ministers Pension Fund.
Contributions to the scheme are charged to the Statement of Financial Activities so as to spread the cost of pensions over the employees’ working lives with the Charity. A qualified actuary using an on-going assessment of the funding position determines the level of pension contributions. The last actuarial valuation of the Ministers Pension Fund scheme for which results are available was on 31 December 2013 and showed a deficit for the whole scheme of £644,000 (2010: £801,000) before adjustments. This is made up of a Past Service deficit of £1,043,000 offset by a future Service surplus of £399,000 generated by the current contribution of 8.5% from members and congregations. From January 2013 pension contributions from members and congregations have been at the rate of 10%.
Employer contributions and employee contributions were 10% of earnings including housing allowance. The pension cost for the year of the charity amounted to £ 4,046 (20 20 : £ 4,961 ).
The re were contributions outstanding at the year end of £726 (20 20 : £Nil).
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