REGISTERED COMPANY NUMBER: 00286814 (England and Wales) REGISTERED CHARITY NUMBER: 241936
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2020
for
Fellowship of The Maple Leaf(The)
Michael Goddard Chartered Certified Accountant 57 Markfield Road Caterham Surrey CR3 6RQ
Fellowship of The Maple Leaf(The)
Contents of the Financial Statements for the Year Ended 31 December 2020
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 10 |
Fellowship of The Maple Leaf(The) (Registered number: 00286814)
Report of the Trustees
for the Year Ended 31 December 2020
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
Our main objects and aims can be summarised as to assisting churches in Canada and United Kingdom to learn from each other in the areas of ministry, education and social concern and to grant individual bursaries for study and sharing of experiences for Canadians coming to the United Kingdom and British people going to Canada.
Public benefit
In setting our programme for making grants each year we have regard to both the Charity Commission's general guidance on public benefit and the advancement of religious education for the public benefit. The trustees always ensure that the grants made are in line with our charitable objects and aims.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the year a number of successful funding applications had to be put on indefinite hold pending a resolution of the worldwide Coronavirus outbreak. The Board was able, however, to make grants to 2 UK individual applicants and to one Canadian individual applicant. The Board approved the first annual grant of a new four year agreement to the Vancouver School of Theology Native Ministry Consortium in support of its Summer School.
The Board has again received thanks and stimulating reports from recipients of recent grants.
FINANCIAL REVIEW
Financial position
The income for the year less management and administration expenses amounted to £24,630 (2019 - £23,099). The total grants and lecture costs paid during the year amounted to £10,879 (2019 - £22,921).
Reserves policy
The Charity holds reserves in the form of an expendable endowment fund. This fund is invested through the CBF Church of England Investment Fund. At 31st December the total invested was valued at £1,007,023. The fund is held in order to produce income, out of which the expenses of the Charity are paid and grants made. Income of about £23,500 per year is received which enables grants of £18,000 per year to be made. The trustees also aim to hold income reserves as deposit sufficient to equate to one year's income. No fund raising activities have taken place for many years.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
00286814 (England and Wales)
Registered Charity number
241936
Registered office
The Vicarage 1B Church Road London N6 4QH
Page 1
Fellowship of The Maple Leaf(The) (Registered number: 00286814)
Report of the Trustees for the Year Ended 31 December 2020
Trustees
Rev Doctor Jacob Belder Rev Doctor Jennifer Cooper Rev Doctor Owen Edwards Revd Christine Hall Revd Timothy Miller Mrs Margaret Moyes Very Revd Andrew Nunn Revd Preb David Sceats Revd Canon Michael Smith Rt Revd Mark Tanner Revd Eileen Turner
Company Secretary
Revd Preb David Sceats
Independent Examiner
Michael Goddard Chartered Certified Accountant 57 Markfield Road Caterham Surrey CR3 6RQ
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Revd Christine Hall - Trustee
Page 2
Independent Examiner's Report to the Trustees of Fellowship of The Maple Leaf(The)
Independent examiner's report to the trustees of Fellowship of The Maple Leaf(The) ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2020.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the 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:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
-
the accounts 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
-
the accounts 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 accounts to be reached.
Michael Goddard Chartered Certified Accountant 57 Markfield Road Caterham Surrey CR3 6RQ
Date: .............................................
Page 3
Fellowship of The Maple Leaf(The)
Statement of Financial Activities for the Year Ended 31 December 2020
| Notes INCOME AND ENDOWMENTS FROM Investment income 2 EXPENDITURE ON Charitable activities 3 Grants paid Other Total Net gains on investments NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
General fund £ 28,399 10,879 3,769 14,648 - 13,751 125,892 139,643 |
Re Valuation fund £ - - - - 62,923 62,923 867,111 930,034 |
31.12.20 Total funds £ 28,399 10,879 3,769 14,648 62,923 76,674 993,003 1,069,677 |
31.12.19 Total funds £ 27,610 22,921 4,511 |
|---|---|---|---|---|
| 27,432 148,768 |
||||
| 148,946 844,057 |
||||
| 993,003 |
The notes form part of these financial statements
Page 4
Fellowship of The Maple Leaf(The) (Registered number: 00286814)
Balance Sheet
31 December 2020
| Notes FIXED ASSETS Investments 6 CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 8 Unrestricted funds Restricted funds TOTAL FUNDS |
General fund £ 76,989 63,254 (600) 62,654 139,643 139,643 |
Re Valuation fund £ 930,034 - - - 930,034 930,034 |
31.12.20 Total funds £ 1,007,023 63,254 (600) 62,654 1,069,677 1,069,677 139,643 930,034 1,069,677 |
31.12.19 Total funds £ 944,100 49,503 (600) 48,903 993,003 993,003 125,892 867,111 993,003 |
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Mrs Margaret Moyes - Trustee
The notes form part of these financial statements
Page 5
Fellowship of The Maple Leaf(The)
Notes to the Financial Statements for the Year Ended 31 December 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31.12.20 | 31.12.19 | |
| £ | £ | |
| Investment income | 28,265 | 27,443 |
| Deposit account interest | 134 | 167 |
| 28,399 | 27,610 |
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continued...
Fellowship of The Maple Leaf(The)
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
3. CHARITABLE ACTIVITIES COSTS
| CHARITABLE ACTIVITIES COSTS | |
|---|---|
| Grant | |
| funding of | |
| activities | |
| £ | |
| Grants paid | 10,879 |
4. TRUSTEES' REMUNERATION AND BENEFITS
The Reverend Preb.David Sceats was paid £1,647 (2019 - £1,616) and Margaret Moyes £412 (2019 - £404) during the year for Secretarial Services.
No grants were paid to trustees during 2020 (2019 - £1,085).
Trustees' expenses
Expenses reimbursed to the trustees' during the year amounted to £427 (2019 - £1,739).
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Investment income EXPENDITURE ON Charitable activities Grants paid Other Total Net gains on investments NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
General fund £ 27,610 22,921 4,511 27,432 - 178 125,714 125,892 |
Re Valuation fund £ - - - - 148,768 148,768 718,343 867,111 |
Total funds £ 27,610 22,921 4,511 |
|---|---|---|---|
| 27,432 148,768 |
|||
| 148,946 844,057 |
|||
| 993,003 |
continued...
Page 7
Fellowship of The Maple Leaf(The)
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
6. FIXED ASSET INVESTMENTS
| MARKET VALUE At 1 January 2020 Revaluations At 31 December 2020 NET BOOK VALUE At 31 December 2020 At 31 December 2019 There were no investment assets outside the UK. 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accrued expenses 8. MOVEMENT IN FUNDS At 1.1.20 £ Unrestricted funds General fund 125,892 Restricted funds Re Valuation fund 867,111 TOTAL FUNDS 993,003 Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 28,399 (14,648) Restricted funds Re Valuation fund - - TOTAL FUNDS 28,399 (14,648) |
31.12.20 £ 600 Net movement in funds £ 13,751 62,923 76,674 Gains and losses £ - 62,923 62,923 |
Listed investments £ 944,100 62,923 1,007,023 1,007,023 944,100 31.12.19 £ 600 At 31.12.20 £ 139,643 930,034 1,069,677 Movement in funds £ 13,751 62,923 76,674 |
|---|---|---|
continued...
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Fellowship of The Maple Leaf(The)
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
8. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.1.19 £ Unrestricted funds General fund 125,714 Restricted funds Re Valuation fund 718,343 TOTAL FUNDS 844,057 Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 27,610 (27,432) Restricted funds Re Valuation fund - - TOTAL FUNDS 27,610 (27,432) A current year 12 months and prior year 12 months combined position is as follows: At 1.1.19 £ Unrestricted funds General fund 125,714 Restricted funds Re Valuation fund 718,343 TOTAL FUNDS 844,057 |
Net movement At in funds 31.12.19 £ £ 178 125,892 148,768 867,111 148,946 993,003 Gains and Movement losses in funds £ £ - 178 148,768 148,768 148,768 148,946 Net movement At in funds 31.12.20 £ £ 13,929 139,643 211,691 930,034 225,620 1,069,677 |
|---|---|
continued...
Page 9
Fellowship of The Maple Leaf(The)
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
8. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 56,009 | (42,080) | - | 13,929 |
| Restricted funds | ||||
| Re Valuation fund | - | - | 211,691 | 211,691 |
| TOTAL FUNDS | 56,009 | (42,080) | 211,691 | 225,620 |
9. RELATED PARTY DISCLOSURES
See note 4.
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