CHARITY NUMBER: 247127
THE LONDON ASSOCIATION IN AID OF MORAVIAN MISSIONS
Trustees’ Report and Unaudited Aggregated Financial Statements
for the year ended 5 April 2021
The London Association in Aid of Moravian Missions
Charity number |
247127 |
|---|---|
| Registered Address | Moravian Church House |
| 5 – 7 Muswell Hill | |
| London | |
| N10 3TJ | |
| Trustees | L.A.M.M. Limited (Holding trustee) |
| Mr. John Henry Martin | |
| Mrs. Jacqueline Kay Morten | |
| Mr. Keith Morten | |
| Mrs. Gillian Taylor | |
| Rev. Joachim Kreusel | |
| Ms. Maureen Colbert | |
| Rev. Robert James Hopcroft | |
| Independent Examiner | Julie Mutton FCA |
| Smith & Williamson LLP | |
| Onslow House | |
| Onslow Street | |
| Guildford Surrey | |
| GU1 4TL | |
| Bankers | CAF Bank Limited |
| 25 Kings Hill | |
| West Malling | |
| Kent | |
| ME19 4JQ | |
| National Westminster Bank plc | |
| Wood Green Branch | |
| 14 The Broadway | |
| London | |
| N22 6BZ | |
| Solicitors | Bartletts Solicitors |
| 38 Willoughby Road | |
| London | |
| N8 OJQ |
The London Association in Aid of Moravian Missions
Annual Report for the year ended 5 April 2021
The trustees present their report and financial statements for the year ended 5 April 2021. The financial statements comply with current statutory requirements and the charity’s governing documents.
Reference and administrative details
The London Association in Aid of Moravian Missions is registered with the Charity Commission, No 247127. It is an unincorporated charity and is governed by its constitution. This report and financial statements includes the affairs of the Latimer & Ridley Trust which is a linked charity.
The London Association was founded in the year 1817 by members of several denominations in Britain to assist the missionary activities of the Moravian Church. Under God’s providence, it has raised funds for its work for over 180 years and helped the Moravian Church in many countries to fulfil in some small measure the Lord’s command to preach the gospel to all nations.
The Latimer & Ridley Trust was established by Trust Deed on 6 August 1903. The income of the Trust is to be paid to the Association. The capital is not expendable.
The holding trustee of the London Association in Aid of Moravian Missions is L.A.M.M. Limited. L.A.M.M. Limited also acts as holding trustee for the Latimer & Ridley Trust. The managing trustees of the charity and the directors of L.A.M.M. Limited throughout the year were:
Mr. John Henry Martin Mrs. Jacqueline Kay Morten Mr. Keith Morten Mrs. Gillian Taylor Rev. Joachim Kreusel Ms. Maureen Colbert Rev. Robert James Hopcroft Miss Roberta Hoey (resigned 9[th] January 2021)
The directors of L.A.M.M. Limited are elected by the members of the company.
The charity is connected, by commonality of objects and through common Trustees with the British Province of the Unitas Fratrum (Moravian Church), registered charity No 251211.
Structure, governance and management
The Trust Deed or other constitutional documents cannot be found and are believed to have been destroyed by enemy action in the Second World War. The holding trustee of the London Association in Aid of Moravian Missions is L.A.M.M. Limited. The Directors of L.A.M.M. Limited meet regularly to direct the affairs of the Charity. At their meetings, the Directors consider the work of the Charity and approve, amongst other things, the Annual Accounts and Budget, material changes to the investment property and the appointment and/or dismissal of Directors and Auditors. New Directors are appointed in accordance with the Articles of Association of L.A.M.M. Limited.
Recruitment and Training of Trustees
When a vacancy occurs on the Board, the PEC of the Moravian Church is invited to approach people with the essential skills and recommend them to the Trustees for their consideration. Having considered the CVs of prospective candidates, one individual is invited by the Trustees to attend a Board meeting as an observer. If the Board feel that the candidate is suitable, and the candidate feels similarly, he/she is invited to the next meeting and to be elected to the Board.
Trustees are directed to read the trustee handbook and guidance provided by the Charity Commission.
Objectives and Activities for the Public Benefit
The aim of the charity is to assist the missionary activities of the Moravian Church.
Activities that help to deliver this strategy, include the efficient management of the investment property.
1
The London Association in Aid of Moravian Missions
Annual Report for the year ended 5 April 2021 (continued)
The trustees confirm that they have referred to the Charity Commission’s guidance on public benefit when reviewing the Trust’s aims and objectives, in planning future activities, and setting the grant making policy for the year.
Achievements and Performance
The charity does not engage in fund raising activities. The charity administers the property obtaining a fair rent.
Other forms of income are from Trusts not within the charities control.
Financial Review
A £60,500 grant was awarded to the Moravian Union for overseas mission work during the year (2020 - £70,000 which includes £7,000 from 2019).
The Charity’s investment property was professionally valued in 2019 and the Trustees consider this still to be the fair market value.
Reserves
The charity aims to have free reserves equivalent to three months’ expenditure. Currently free reserves stand at £38,304 (2020 - £38,546), equivalent to eight months’ expenditure.
It is the policy of the Trustees to apply substantially the whole of the net recurring income to the mission work of the Moravian Church.
Plans for future periods
The plan for the future is to maintain the current level of income to be able to support the Moravian Church’s overseas mission work.
Risk analysis
The trustees recognise that it is not possible to eliminate risk entirely however they are continually monitoring their original assessment of major risks to which the charity is exposed, in particular those related to the operations and finances of the charity.
The trustees maintain the position that they are satisfied there are systems and controls in place within the Charity to mitigate the risks to which they are exposed.
Going concern uncertainties
The charity is reliant on its investment property being rented and the support from voluntary donations. The Trustees believe that support will continue for further periods into the future and have thus adopted the going concern basis for preparing the financial statements.
On behalf of the Trustees
Gillian Taylor
Gillian Taylor (Feb 4, 2022 11:36 GMT)
Mrs Gillian Taylor
Date: 04/02/2022
2
The London Association in Aid of Moravian Missions
Trustees’ Responsibilities for the Financial Statements for the year ended 5 April 2021
The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and regulations.
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable regulations). Under that law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period.
In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records which are sufficient to show and explain the Charity’s transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
3
The London Association in Aid of Moravian Missions
Independent examiner’s report to the trustees of The London Association in Aid of Moravian Missions
I report to the trustees on my examination of the accounts of The London Association in Aid of Moravian Missions for the year ended 5 April 2021, which comprise the Aggregated Statement of Financial Activities, the Aggregated Balance Sheet and the notes to the accounts, including a summary of significant accounting policies.
Respective responsibilities of trustees and examiner and basis of report
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 charity’s accounts carried out under section 145 of the 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:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Julie Mutton
Julie Mutton (Feb 4, 2022 13:00 GMT)
Julie Mutton, Fellow of The Institute of Chartered Accountants in England & Wales Smith & Williamson LLP Onslow House Onslow Street Guildford Surrey GU1 4TL
Date: 04/02/2022
4
The London Association in Aid of Moravian Missions
Aggregated Statement of Financial Activities for the year ended 5 April 2021
| Note INCOME Donations and legacies John Christie Trust A. M. Bird Trust Investments income Rents and service charges Interest TOTAL INCOME EXPENDITURE Cost of raising funds: Investment management costs 5 Expenditure on charitable activities: Donations - Moravian Union 6 TOTAL EXPENDITURE Gain on revaluation of investment property NET MOVEMENT IN FUNDS Accumulated funds brought forward ACCUMULATED FUNDS CARRIED FORWARD 12 |
Unrestricted Funds 2021 £ 3,600 - 65,520 13 69,133 4,786 64,589 69,375 - (242) 38,546 38,304 |
Endowment Funds 2021 £ - - - - - - - - - - 1,400,000 1,400,000 |
Total Funds 2021 £ 3,600 - 65,520 13 69,133 4,786 64,589 69,375 - (242) 1,438,546 1,438,304 |
Total Funds 2020 £ |
|---|---|---|---|---|
| 7,136 5,302 65,520 67 |
||||
| 78,025 | ||||
| 11,969 74,120 |
||||
| 86,089 | ||||
| - | ||||
| (8,064) | ||||
| 1,446,610 | ||||
| 1,438,546 |
5
The London Association in Aid of Moravian Missions
Aggregated Balance Sheet as at 5 April 2021
| Note FIXED ASSETS Investment property 7 CURRENT ASSETS Debtors 8 Bank deposits LIABILITIES Creditors: Amounts falling due within one year 9 NET CURRENT ASSETS NET ASSETS REPRESENTED BY: Permanent Endowment fund 12 Unrestricted funds 12 TOTAL FUNDS |
£ 754 102,225 |
2021 £ 1,400,000 38,304 1,438,304 1,400,000 38,304 1,438,304 |
£ 1,013 109,376 |
2020 £ 1,400,000 38,544 |
|---|---|---|---|---|
| 102,979 64,675 |
110,389 71,845 |
|||
| 1,438,544 | ||||
| 1,400,000 38,546 |
||||
| 1,438,546 |
The accounts were approved by the Trustees on by
and signed on their behalf
Gillian Taylor
Gillian Taylor (Feb 4, 2022 11:36 GMT)
Mrs Gillian Taylor Trustee
04/02/2022
6
The London Association in Aid of Moravian Missions
Notes to the accounts for the year ended 5 April 2021
- Status
The London Association in Aid of Moravian Missions (“the charity”) is a registered charity with the Charity Commission. The charity number is 247127. Its principal address is Moravian Church House, 5 – 7 Muswell Hill, London N10 3TJ.
- Accounting policies
The principal accounting policies are summarised below:
Basis of preparation
The financial statements have been prepared in accordance with The Financial Reporting Standard applicable in the UK and Republic of Ireland (“FRS102”) including Section 1A, and with the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with FRS102 issued in 2019 and revised in 2020. The financial statements are also prepared in accordance with the Charities Act 2011.
The charity is a public benefit entity as defined by FRS 102.
The financial statements have been prepared under the historical cost convention except as otherwise stated.
The financial statements aggregate the accounts of the Association and those of the Latimer & Ridley Trust, a linked subsidiary charity having the same trustees as the Association and which is obliged to pay its income to the Association. The Trust is included in these financial statements as endowment funds.
Exemption
The Charity has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by the FRS 102.
- the requirements of Section 7 Statement of Cash Flows.
Going concern
The charity is reliant on its investment property being rented and the support from voluntary donations. The Trustees believe that support will continue for further periods into the future and have thus adopted the going concern basis for preparing the financial statements.
Income
All income is recognised when the charity has entitlement to the income, when its receipt is probable and when it can be measured with reasonable certainty.
Expenditure
Liabilities are recognised as soon as there is legal or constructive obligation committing the charity to the expenditure. Expenditure is charged on an accruals basis. Charitable activities represent expenditure on meeting the charitable objectives. Grants payable are payments to the Moravian Union in furtherance of the charitable objects of the Association. Investment management costs comprise those costs associated with the management of the investment property. Governance costs include those costs which have been incurred in complying with the charity’s constitutional and regulatory obligations.
7
The London Association in Aid of Moravian Missions
Notes to the accounts for the year ended 5 April 2021 (continued)
2. Accounting policies (continued)
Investment property
Investment properties are included in the Aggregated balance sheet at their open market value in accordance with applicable accounting standards and are not depreciated.
Operating leases – Lessor accounting
Investment properties are held for use in operating leases. Rentals receivable are credited to income on a straight line basis over the lease term.
3. Key judgements and estimation uncertainty
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgements that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.
Judgements
The most significant judgement made by the Trustees in preparing the financial statements relates to the use of the going concern basis for the preparation of the financial statements, as described in note 2.
Estimation uncertainties
There are no significant sources of estimation uncertainty other than the valuation of investment properties which requires the judgement of the trustees after taking appropriate independent valuation advice,
4. Employees The average number of monthly employees, including Trustees, during the year was nil (2020: nil).
5. Investment management costs
| Property outgoings Provision for bad and doubtful debts |
2021 £ 4,786 - 4,786 |
2020 £ 4,469 7,500 |
|---|---|---|
| 11,969 |
8
The London Association in Aid of Moravian Missions
Notes to the accounts for the year ended 5 April 2021 (continued)
6. Analysis of charitable expenditure
The charity undertakes its charitable activities through grant making and awarded grants to a number of individuals and institutions in furtherance of its charitable activities.
| Moravian Union | Grant funded activity 2021 £ 60,500 60,500 |
Governance costs 2021 £ 4,089 4,089 |
Total 2021 £ 64,589 64,589 |
Total 2020 £ 74,120 |
|---|---|---|---|---|
| 74,120 |
The breakdown of governance costs is shown in the table below:
| Independent examination fees Accountancy fees Legal and professional fees Other costs |
2021 £ 3,000 1,000 70 19 4,089 |
2020 £ 3,000 1,000 - 120 |
|---|---|---|
| 4,120 |
All governance costs are allocated to charitable activities.
7. Investment property
| Valuation At 6 April 2020 Surplus on revaluation At 5 April 2021 Comprising: Cost Annual revaluation surplus / (deficit): 2007 2008 2014 2015 2018 |
Freehold property £ 1,400,000 - |
|---|---|
| 1,400,000 | |
| 305,169 514,331 (40,975) (203,525) 625,000 200,000 |
|
| 1,400,000 |
Charlton House was revalued from £1,200,000 to £1,400,000 based on Drivers & Norris Chartered Surveyors’ August 2018 valuation. The investment property is used to generate investment income for the charity and has been included at the trustees’ assessment of open market value as at 5 April 2021.
9
The London Association in Aid of Moravian Missions
Notes to the accounts for the year ended 5 April 2021 (continued)
8. Debtors
| Prepayments | 2021 £ 754 754 |
2020 £ 1,013 |
|---|---|---|
| 1,013 |
9. Creditors: Amounts falling due within one year
| Grants payable Accruals Rent received in advance |
2021 £ 60,500 4,175 - 64,675 |
2020 £ 63,000 5,095 3,750 |
|---|---|---|
| 71,845 |
10. Trustees and related party transactions
No trustee received any remuneration nor was reimbursed any expenses in the year ended 5 April 2021 (2020 – none).
11. Taxation
Under current tax legislation, the charity is exempt from taxation on income and gains, to the extent that these are applied to its charitable objects.
12. Funds – Analysis of net assets
| Freehold property Debtors Bank and cash Creditors |
Unrestricted Funds 2021 £ - 754 102,225 (64,675) 38,304 |
Endowment Funds 2021 £ 1,400,000 - - - 1,400,000 |
Total Funds 2021 £ 1,400,000 754 102,225 (64,675) 1,438,304 |
Total Funds 2020 £ 1,400,000 1,013 109,376 (71,845) |
|---|---|---|---|---|
| 1,438,544 |
The Endowment Fund represents those assets held permanently by the trust. The revalued amount of the investment property listed in the Latimer & Ridley Trust’s accounts is represented by the amount listed within the Endowment Fund. Any additions or improvements made to the property are made from the unrestricted fund, meaning a split of the investment property between endowment and unrestricted funds is made on this basis.
10
The London Association in Aid of Moravian Missions
(Excluding Latimer & Ridley Trust)
Statement of Financial Activities for the year ended 5 April 2021
| INCOME Donations and legacies Latimer & Ridley Trust John Christie Trust (Tods) A. M. Bird Trust Investment income Interest receivable TOTAL INCOME EXPENDITURE Charitable activities Donation - Moravian Union Governance costs: Independent examination fees Accountancy fees Legal and professional fees Other costs TOTAL EXPENDITURE SURPLUS FOR THE YEAR ACCUMULATED FUNDS BROUGHT FORWARD ACCUMULATED FUNDS CARRIED FORWARD |
Total Funds 2021 £ 61,000 3,600 - 4 64,604 (60,500) (3,000) (1,000) (70) 64,570 35 26,719 26,754 |
Total Funds 2020 £ 54,000 7,136 5,302 17 |
|---|---|---|
| 66,455 | ||
| (70,000) (3,000) (1,000) - (60) |
||
| (74,060) | ||
| (7,605) 34,324 |
||
| 26,719 |
This page is for Trustees’ use only and not for publication.
11
The London Association in Aid of Moravian Missions
Latimer & Ridley Trust
Statement of Financial Activities for the year ended 5 April 2021
| INCOME Investment income Rents and service charges Interest TOTAL INCOME EXPENDITURE Charitable activities Investment management costs Property outgoings Donations - L.A.M.M Governance costs Legal & professional Other costs TOTAL EXPENDITURE Gain on revaluation of investment property NET MOVEMENT IN FUNDS ACCUMULATED FUNDS BROUGHT FORWARD FUND BALANCE AT 5 APRIL 2021 |
Unrestricted Funds 2021 £ 65,520 10 65,530 (4,786) (61,000) - (19) (65,805) - (275) 11,827 11,552 |
Endowment Funds 2021 £ - - - - - - - - - - 1,400,000 1,400,000 |
Total Funds 2021 £ 65,520 10 65,530 (4,786) (61,000) - (19) (65,805) - (275) 1,411,827 1,411,552 |
Total Funds 2020 £ 65,520 50 |
|
|---|---|---|---|---|---|
| 65,570 | |||||
| (11,969) (54,000) - (60) |
|||||
| (66,029) | |||||
| - | |||||
| (459) | |||||
| 1,412,286 | |||||
| 1,411,827 |
This page is for Trustees’ use only and not for publication.
12