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 2021
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 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | to | 6 |
| Notes to the Financial Statements | 7 | to | 11 |
| Detailed Statement of Financial Activities | 12 |
Fellowship of The Maple Leaf(The)
Report of the Trustees
for the Year Ended 31 December 2021
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 2021. 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
Once again, the Board found it was unable to award many successful funding applications due to the restrictions Covid placed on worldwide travel. It was able, however, to award one grant to a UK individual applicant and it approved the second annual grant of a 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 £25,928 (2020 - £24,630). The total grants and lecture costs paid during the year amounted to £10,366 (2020 - £10,879).
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 £1,151,821. 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)
Report of the Trustees
for the Year Ended 31 December 2021
Trustees
Rev Doctor Jacob Belder Revd Dr Ellen Clark - King (appointed 12.10.21) 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 Timothy Miller
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 2021.
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
-
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 2021
| 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 £ 29,314 10,366 3,386 13,752 - 15,562 139,643 155,205 |
Re Valuation fund £ - - - - 144,798 144,798 930,034 1,074,832 |
31.12.21 Total funds £ 29,314 10,366 3,386 13,752 144,798 160,360 1,069,677 1,230,037 |
31.12.20 Total funds £ 28,399 10,879 3,769 |
|---|---|---|---|---|
| 14,648 62,923 |
||||
| 76,674 993,003 |
||||
| 1,069,677 |
The notes form part of these financial statements
Page 4
Fellowship of The Maple Leaf(The)
Balance Sheet
31 December 2021
| Notes FIXED ASSETS Investments 6 CURRENT ASSETS Debtors 7 Cash at bank CREDITORS Amounts falling due within one year 8 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 9 Unrestricted funds Restricted funds TOTAL FUNDS |
General fund £ 76,989 113 78,703 78,816 (600) 78,216 155,205 155,205 |
Re Valuation fund £ 1,074,832 - - - - - 1,074,832 1,074,832 |
31.12.21 Total funds £ 1,151,821 113 78,703 78,816 (600) 78,216 1,230,037 1,230,037 155,205 1,074,832 1,230,037 |
31.12.20 Total funds £ 1,007,023 - 63,254 63,254 (600) 62,654 1,069,677 1,069,677 139,643 930,034 1,069,677 |
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.
The notes form part of these financial statements
Page 5
continued...
Fellowship of The Maple Leaf(The)
Balance Sheet - continued
31 December 2021
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:
............................................. Revd Christine Hall - Trustee
The notes form part of these financial statements
Page 6
Fellowship of The Maple Leaf(The)
Notes to the Financial Statements for the Year Ended 31 December 2021
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 | ||
|---|---|---|
| 31.12.21 | 31.12.20 | |
| £ | £ | |
| Investment income | 29,270 | 28,265 |
| Deposit account interest | 44 | 134 |
| 29,314 | 28,399 |
continued...
Page 7
Fellowship of The Maple Leaf(The)
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
3. CHARITABLE ACTIVITIES COSTS
| CHARITABLE ACTIVITIES COSTS | |
|---|---|
| Grant | |
| funding of | |
| activities | |
| £ | |
| Grants paid | 10,366 |
4. TRUSTEES' REMUNERATION AND BENEFITS
The Reverend Preb.David Sceats was paid £1,253 (2020 - £1,647) , Margaret Moyes £418 (2020- £412) and The Reverend Timothy Miller £420 (2020 - nil) during the year for Secretarial Services.
No grants were paid to trustees during 2021 or the previous year.
Trustees' expenses
Expenses reimbursed to the trustees' during the year amounted to £868 (2020 - £427).
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 £ 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 |
Total funds £ 28,399 10,879 3,769 |
|---|---|---|---|
| 14,648 62,923 |
|||
| 76,674 993,003 |
|||
| 1,069,677 |
continued...
Page 8
Fellowship of The Maple Leaf(The)
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
6. FIXED ASSET INVESTMENTS
| MARKET VALUE At 1 January 2021 Revaluations At 31 December 2021 NET BOOK VALUE At 31 December 2021 At 31 December 2020 There were no investment assets outside the UK. 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accrued expenses 9. MOVEMENT IN FUNDS At 1.1.21 £ Unrestricted funds General fund 139,643 Restricted funds Re Valuation fund 930,034 TOTAL FUNDS 1,069,677 |
31.12.21 £ 113 31.12.21 £ 600 Net movement in funds £ 15,562 144,798 160,360 |
Listed investments £ 1,007,023 144,798 1,151,821 1,151,821 1,007,023 31.12.20 £ - 31.12.20 £ 600 At 31.12.21 £ 155,205 1,074,832 1,230,037 |
|---|---|---|
continued...
Page 9
Fellowship of The Maple Leaf(The)
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
9. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming Resources resources expended £ £ Unrestricted funds General fund 29,314 (13,752) Restricted funds Re Valuation fund - - TOTAL FUNDS 29,314 (13,752) Comparatives for movement in funds At 1.1.20 £ Unrestricted funds General fund 125,892 Restricted funds Re Valuation fund 867,111 TOTAL FUNDS 993,003 Comparative 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) |
Gains and Movement losses in funds £ £ - 15,562 144,798 144,798 144,798 160,360 Net movement At in funds 31.12.20 £ £ 13,751 139,643 62,923 930,034 76,674 1,069,677 Gains and Movement losses in funds £ £ - 13,751 62,923 62,923 62,923 76,674 |
|---|---|
continued...
Page 10
Fellowship of The Maple Leaf(The)
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
9. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Re Valuation fund TOTAL FUNDS |
At 1.1.20 £ 125,892 867,111 993,003 |
Net movement in funds £ 29,313 207,721 237,034 |
At 31.12.21 £ 155,205 1,074,832 |
|---|---|---|---|
| 1,230,037 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Re Valuation fund TOTAL FUNDS |
Incoming resources £ 57,713 - 57,713 |
Resources expended £ (28,400) - (28,400) |
Gains and Movemen losses in funds £ £ - 29,313 207,721 207,721 207,721 237,034 |
Gains and Movemen losses in funds £ £ - 29,313 207,721 207,721 207,721 237,034 |
|---|---|---|---|---|
| 237,034 |
10. RELATED PARTY DISCLOSURES
See note 4.
Page 11
Fellowship of The Maple Leaf(The)
Detailed Statement of Financial Activities for the Year Ended 31 December 2021
| Detailed Statement of Financial Activities for the Year Ended 31 December 2021 |
||
|---|---|---|
| 31.12.21 | 31.12.20 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Investment income | ||
| Investment income | 29,270 | 28,265 |
| Deposit account interest | 44 | 134 |
| 29,314 | 28,399 | |
| Total incoming resources | 29,314 | 28,399 |
| EXPENDITURE | ||
| Charitable activities | ||
| Grants to institutions | 8,866 | 8,676 |
| Grants to individuals | 1,500 | 2,203 |
| 10,366 | 10,879 | |
| Support costs | ||
| Management | ||
| Secretarial assistance | 2,091 | 2,059 |
| Meeting expenses | 392 | 164 |
| Printing, postage and stationery | 13 | - |
| Website expenses | 174 | 204 |
| Advertising and promotion | - | 742 |
| Sundry expenses | 176 | - |
| 2,846 | 3,169 | |
| Governance costs | ||
| Accountancy fees | 540 | 600 |
| Total resources expended | 13,752 | 14,648 |
| Net income | 15,562 | 13,751 |
This page does not form part of the statutory financial statements
Page 12