THE ANDRÉ CHRISTIAN TRUST
Annual Report and Accounts
For the Year Ended 31 December 2020 Registered Charity No: 248466
THE ANDRÉ CHRISTIAN TRUST
For the Year Ended 31 December 2020
| CONTENTS | |
|---|---|
| Page | |
| Officers and Advisers | 1 |
| Report of the Trustees | 2/3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activity | 5 |
| Balance Sheet | 6 |
| Notes to the Accounts | 7-10 |
THE ANDRÉ CHRISTIAN TRUST
OFFICERS AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2020
MANAGING TRUSTEES: Andrew K Mowll Stephen P Daykin Peter Appleby (appointed 1 March 2021) All Trustees are appointed by their predecessors after approval by the Overseas Missionary Fellowship (successor charity to China Inland Mission Corporation) BANKERS: Barclays Bank Plc INDEPENDENT EXAMINER: Matthew Melksham Bush & Co Ltd 2 Barnfield Crescent Exeter EX1 1QT CORRESPONDENT: A K Mowll 24 Hellings Gardens Broadclyst Exeter EX5 3DX CHARITY NUMBER: 248466
1
THE ANDRÉ CHRISTIAN TRUST
TRUSTEES' REPORT ON THE ACTIVITIES OF THE TRUST
FOR THE YEAR ENDED 31 DECEMBER 2020
TRUSTEES' RESPONSIBILITIES FOR THE FINANCIAL STATEMENTS
The Trustees are responsible for preparing financial statements for each financial period which clearly show the state of affairs of the Trust and of the surplus or deficit of the charity for the period. In preparing these financial statements the Trustees are required to:
-
Select suitable accounting policies and apply them consistently.
-
Make judgements and estimates that are reasonable and prudent.
-
Prepare the accounts on a going concern basis unless it is inappropriate to presume that the charity will continue in existence.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the accounts comply with the Charities Act 2011 and the Statement of Recommended Practice 2015 (FRS102). They are responsible for safeguarding the assets of the charity and hence making reasonable steps for the prevention and detection of fraud and other irregularities.
OBJECTIVES OF THE TRUST AND PUBLIC BENEFIT
The Trustees are governed by the Trust Deed dated 30 December 1950 which lists charities to which the Trustees can make donations and the qualifications necessary for other charities to be eligible to receive donations from the Trust. In general terms, it is the policy of the Trustees to utilise the major part of the annual income of the Trust to make charitable donations in accordance with that clause and to transfer funds:
-
a) To any of the charities described in the second schedule of the Trust Deed, or
-
b) To any charity whose sole objective is the advancement of the Christian Religion whether by the printing and distribution of the scriptures or by evangelistic work, or
-
c) For the relief of sickness or poverty or the advancement of education.
The Trustees confirm that they have had regard to the Charity Commission’s guidance on public benefit when making decisions about the grants made, and how those payments will benefit the public.
REVIEW
The Trustees meet on a regular basis and agree on the grants to be paid. Those paid in the year are listed in note 3 to the accounts.
Income for the year was £59,097 (2019: £57,967). Expenditure was £48,021 (2019: £60,468). The gain on investments was £117,707 (2019: 284,380). The net surplus for the year was £128,783 (2019: £281,879).
VOLUNTARY HELP
The Managing Trustees give their time to the Trust without remuneration.
2
THE ANDRÉ CHRISTIAN TRUST
TRUSTEES' REPORT ON THE ACTIVITIES OF THE TRUST
FOR THE YEAR ENDED 31 DECEMBER 2020
RESERVES POLICY
The Trustees consider that the free reserves, excluding investments used to generate income, are left at an appropriate level. It is the intention of the Trustees to distribute most of the income available after paying the running costs of the charity.
RISK MANAGEMENT
The Trustees continue to keep the Trust's activities under review particularly with regard to the possibility of major risk. Appropriate systems are in place to minimise the risks identified.
Andrew K Mowll Stephen P Daykin Peter K Appleby
Date: Date: Date:
3
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF
THE ANDRÉ CHRISTIAN TRUST
This report is on the financial statements of the Trust for the year ended 31 December 2020, which are set out on pages 5 to 10.
Respective Responsibilities of Trustees and Examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
-
to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
-
to state whether particular matters have come to my attention.
Basis of Independent Examiner’s Report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent Examiner’s Statement
In connection with my examination, no matter has come to my attention:
-
1) which gives me reasonable cause to believe that, in any material respect, the requirements:
-
to keep accounting records in accordance with section 130 of the 2011 Act; and
-
to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act
have not been met; or
- 2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Matthew Melksham FCCA Bush & Co Ltd Chartered Accountants 2 Barnfield Crescent Exeter EX1 1QT
Date: 10/04/2021
4
THE ANDRÉ CHRISTIAN TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2020
| Undistributed Income Unrestricted Funds Endowment Restricted Funds Note £ £ INCOME FROM: Investments 2 59,097 - _ _ Total 59,097 - _ _ EXPENDITURE ON: Charitable activities 3 48,021 - _ _ Total 48,021 - _ _ Net income/(expenditure) before investment gains 11,076 - Net gains/(losses) on Investments - 117,707 _ _ Net Income and Movement in Funds 11,076 117,707 Balance Brought Forward 40,962 1,861,661 _ _ Balance Carried Forward 52,038 1,979,368 _ ____ |
Total Funds 2020 Undistributed Income Unrestricted Funds Endowment Restricted Funds £ £ £ 59,097 57,967 - _ _ _ 59,097 57,967 - _ _ _ 48,021 60,468 - _ _______ _______ 48,021 60,468 - _______ _______ _______ 11,076 (2,501) - 117,707 - 284,380 __________ _______ __________ 128,783 (2,501) 284,380 1,902,623 43,463 1,577,281 __________ _______ __________ 2,031,406 40,962 1,861,661 _ _ _ |
Total Funds 2019 £ 57,967 _ 57,967 _ 60,468 _ 60,468 _ (2,501) 284,380 _ 281,879 1,620,744 _ 1,902,623 _ |
|---|---|---|
5
THE ANDRÉ CHRISTIAN TRUST
BALANCE SHEET
AS AT 31 DECEMBER 2020
| Note £ Investments 4 Current Assets Cash at Bank 5 53,208 Current Liabilities Accruals 6 1,170 _ Net Current Assets TOTAL NET ASSETS Represented by: Endowment Fund (Restricted) Undistributed Income (Unrestricted) TOTAL FUNDS |
2020 £ £ 1,979,368 42,084 1,122 _ 52,038 ___ 2,031,406 _ 1,979,368 52,038 _ 2,031,406 ____ |
2019 £ 1,861,661 40,962 ___ 1,902,623 _ 1,861,661 40,962 _ 1,902,623 ____ |
|---|---|---|
These accounts were approved by the Trustees on
Andrew K Mowll
Stephen P Daykin
Peter K Appleby
6
THE ANDRÉ CHRISTIAN TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2020
1. ACCOUNTING POLICIES
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the period.
a) Basis of Accounting
The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014, and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), and the Charities Act 2011, and Generally Accepted Practice as it applies from 1 January 2015.
The charity constitutes a public benefit entity as defined by FRS102.
b) Fund Accounting
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity.
Restricted funds are subject to restriction on their expenditure imposed by the donor.
c) Incoming Resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. Investment income is included when receivable.
d) Resources Expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be recovered and is reported as part of the expenditure to which it relates.
The Trustees are authorised to utilise the annual income of the Trust Fund to make donations to certain charities in accordance with the Trusts set out in clause 3 of the Trust Deed which are broadly outlined in the Trustees' Report under the heading "Objectives of the Trust and public benefit”.
Support costs include those costs associated with meeting the constitutional and statutory requirements of the charity.
e) Asset Valuation
Investments are valued initially at cost and subsequently at fair value (their market value) at the year end.
7
THE ANDRÉ CHRISTIAN TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2020
1. ACCOUNTING POLICIES (continued)
f) Investment Gains and Losses
This includes any realised or unrealised gains or losses on the sale of investments and any gain or loss resulting from the revaluing of investments to market value at the year end.
2. INVESTMENT INCOME
| Distributions on COIF Income Units Interest on COIF Charities Deposit 3. CHARITABLE ACTIVITIES Grants to Charitable Institutions Overseas Missionary Fellowship Care for the Family Lamps Karis Kids Exeter YMCA SEAN UK Life Words SWYM Choices Pregnancy Centre Bible Society St Peter’s Malawi Education Trust Medic Malawi Palm Tree Associates All Nations Christian College Tiverton Vineyard Church South West Community Chaplaincy Christian Publishing & Outreach Open Doors Exmouth OAC Albania Unseen The Big Give Support Costs Independent Examination Fee |
2020 £ 59,033 64 _ 59,097 _ 2020 £ 2,000 8,000 1,000 - 750 3,500 2,000 - - 2,000 - 2,400 5,000 10,000 - - 2,000 1,000 4,500 2,500 188 _ 46,838 1,183 _ 48,021 _ |
2019 £ 57,739 228 _ 57,967 _ 2019 £ 2,000 5,000 - 5,000 2,300 - 2,000 1,000 4,000 2,000 8,260 - 23,800 - 1,000 3,000 - - - - - _ 59,360 1,108 _ 60,468 _ |
|---|---|---|
8
THE ANDRÉ CHRISTIAN TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2020
4. INVESTMENTS
| 4. | INVESTMENTS | ||||
|---|---|---|---|---|---|
| 2020 | 2019 | ||||
| £ | £ | ||||
| 719,038 COIF Ethical Investment Fund - | |||||
| Income units: cost | 239,330 | 239,330 | |||
| ___ | ___ | ||||
| Market Value as at 1 January | 1,861,661 | 1,577,281 | |||
| Unrealised gain/(loss) arising in year | 117,707 | 284,380 | |||
| ___ | ___ | ||||
| Market Value as at 31 December | 1,979,368 | 1,861,661 | |||
| ___ | ___ | ||||
| These investments are held in the United | Kingdom | ||||
| 5. | BANK | ||||
| 2020 | 2019 | ||||
| £ | £ | ||||
| COIF Charities Deposit Fund | 45,352 | 26,254 | |||
| Barclays Community Account | 7,856 | 15,829 | |||
| __ | __ | ||||
| 53,208 | 42,084 | ||||
| __ | __ | ||||
| 6. | ACCRUALS | ||||
| 2020 | 2019 | ||||
| £ | £ | ||||
| Independent Examiner | 1,170 | 1,108 | |||
| __ | __ | ||||
| 7. | FUND MOVEMENT | ||||
| 2020 | Unrestricted | Restricted | Total Funds | ||
| Funds | 2020 | Funds 2020 | 2020 | ||
| £ | £ | £ | |||
| Balance brought forward | 40,962 | 1,861,661 | 1,902,623 | ||
| Incoming Resources | 59,097 | - | 59,097 | ||
| Outgoing Resources | (48,021) | - | (48,021) | ||
| Net Gains/(Losses) on Investments | - | 117,707 | 117,707 | ||
| __ | ___ | ____ | |||
| Balance carried forward | 52,038 __ |
1,979,368 ___ |
2,031,406 ____ |
9
THE ANDRÉ CHRISTIAN TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2019
| 7. | FUND MOVEMENT (CONTINUED) | |||
|---|---|---|---|---|
| 2019 | Unrestricted | Restricted | Total Funds | |
| Funds 2019 | Funds 2019 | 2019 | ||
| £ | £ | £ | ||
| Balance brought forward | 43,463 | 1,577,281 | 1,620,744 | |
| Incoming Resources | 57,967 | - | 57,967 | |
| Outgoing Resources | (60,468) | - | (60,468) | |
| Net Gains/(Losses) on Investments | - | 284,380 | 284,380 | |
| __ | ___ | ___ | ||
| Balance carried forward | 40,962 | 1,861,661 | 1,902,623 | |
| __ | ___ | ___ | ||
| 8. | NET ASSETS BETWEEN FUNDS | |||
| 2020 | Unrestricted | Restricted | Total Funds | |
| Funds 2020 | Funds 2020 | 2020 | ||
| £ | £ | £ | ||
| Investments | - | 1,979,368 | 1,979,368 | |
| Cash at Bank | 53,208 | 53,208 | ||
| Accruals | (1,170) | - | (1,170) | |
| __ | ____ | ____ | ||
| Net Assets | 52,038 | 1,979,368 | 2,031,406 | |
| __ | ____ | ____ | ||
| 2019 | Unrestricted | Restricted | Total Funds | |
| Funds 2019 | Funds 2019 | 2019 | ||
| £ | £ | £ | ||
| Investments | - | 1,861,661 | 1,861,661 | |
| Cash at Bank | 42,084 | - | 42,084 | |
| Accruals | (1,122) | - | (1,122) | |
| __ | ___ | ___ | ||
| Net Assets | 40,962 __ |
1,861,661 ___ |
1,902,623 ___ |
9. RELATED PARTY TRANSACTIONS
During the year there were no related party transactions (2019: None).
10. TRUSTEES' REMUNERATION
During 2020 and 2019 no trustee received any remuneration or received reimbursement for expenses paid.
10