Charity registration number 264570
CHORLEY COMMUNITY CHURCH (NORTH EAST LONDON GOSPEL MISSION)
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
CHORLEY COMMUNITY CHURCH (NORTH EAST LONDON GOSPEL MISSION)
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr Joe Rodriguez Ms Duriye Beidas Mr Roger Penny Mr Peter Dublin
Charity number 264570 Principal address 9 King Henrys Walk London N1 4NX Independent examiner Affinity Associates Limited 11-12 Hallmark Trading Centre Fourth Way Wembley Middlesex England HA9 0LB
CHORLEY COMMUNITY CHURCH (NORTH EAST LONDON GOSPEL MISSION)
CONTENTS
| Page | |
|---|---|
| Trustees report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 9 |
CHORLEY COMMUNITY CHURCH (NORTH EAST LONDON GOSPEL MISSION)
TRUSTEES REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustees present their annual report and financial statements for the year ended 31 December 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's [governing document], the Charities Act 2011 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).
Objectives and activities
The charity, which is a church, is governed by a trust deed and is constituted as a trust. The charity's principal objects, as set out in its governing document, are to demonstrate the Christian faith in action by the spreading of the gospel among the inhabitants of north east London and the vicinity, especially among the poor.
Summary of the charity's main activities and achievements
To further the above objects and vision, the charity's main activities and achievements were as follows:
The trustees note that the Church is not a building, but a gathering of ordinary people of different ages and backgrounds, whose lives have been changed by Jesus Christ, the Son of God. The New Testament reveals the Church as a community of people, properly taught and cared for, who by loving and serving Jesus Christ, were also committed to love and care for each other and to bring a blessing to the area in which they lived.
The North East London Gospel Mission, its trustees, elders and members are committed to the restoration of those New Testament principles. It is not alone in this, it is one of many Churches in the area, country and all over the world that is re-discovering the excitement of knowing Jesus Christ. The vision is to see the people of north east London come into this experience of knowing Jesus as their Lord, Saviour and friend.
To further the above objects and vision, the charity's main activities and achievements were as follows:
a) held a church service every Sunday. They are advertised in our monthly Newsletter. These are open to the community and we have a portable ramp to facilitate wheelchair users.
b) held regular bible study and prayer meetings. These are held once a week for each meeting, and again open to the community.
c) We hold regular meetings every Tuesday called ‘Wise Owls Club’ for over 50s with a worker, paid for by the City Bridge Trust.
d) We also have a youth club on Tuesday evenings run by a youth Leader and several volunteers.
e) We reach out to our community by visiting those that are homebound and in hospital. We also have a book table with free books for people to take.
f) We host an AA meeting on Friday evenings.
g) We are a pivotal part of a food kitchen/food bank initiative helping the community.
h) We have continued our partnership with the team at Link to Hope who have been working even harder to provide humanitarian aid and improve access to education and social care throughout Romania, Bulgaria, Moldova and Ukraine. Even though there were many restrictions we were able to process and send 508 shoeboxes to these countries.
Most of the charity's activities are undertaken by volunteers and the charity could not operate effectively without their efforts. In planning the activities the Trustees have applied the guidance on public benefit issued by the Charity Commission.
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CHORLEY COMMUNITY CHURCH (NORTH EAST LONDON GOSPEL MISSION)
TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
Financial review
During the year income increased by £59,388 to £118,918 and expenditure increased by £34,642 to £94,932. As a result the cash held by the charity increased by £23,986 to £66,259 of which £27,281 is unrestricted and can be used for any charitable purpose.
Reserves policy
It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
Statement of Trustees responsibilities
The Trustees are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which 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 year.
In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping sufficient accounting records that 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 Charity (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.
The Trustees report was approved by the Board of Trustees.
Mr Joe Rodriguez
Trustee
8 August 2024
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CHORLEY COMMUNITY CHURCH (NORTH EAST LONDON GOSPEL MISSION)
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF CHORLEY COMMUNITY CHURCH (NORTH EAST LONDON GOSPEL MISSION)
We report to the Trustees on my examination of the financial statements of Chorley Community Church (North East London Gospel Mission) (the Charity) for the year ended 31 December 2023.
Responsibilities and basis of report
As the Trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
We report in respect of my examination of the Charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out our examination, we have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
We understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
We have completed our examination. We confirm that no matters have come to our attention in connection with the examination giving us cause to believe that in any material respect:
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1 accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements 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.
We 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.
Affinity Associates Limited
11-12 Hallmark Trading Centre Fourth Way Wembley Middlesex HA9 0LB England
Dated: 8 August 2024
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CHORLEY COMMUNITY CHURCH (NORTH EAST LONDON GOSPEL MISSION)
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
| Unrestricted Restricted funds funds 2023 2023 Notes £ £ Income from: Donations and legacies 34,295 84,623 Expenditure on: Charitable activities Charitable Expenditure 2 30,986 63,946 Total charitable expenditure 30,986 63,946 Net income/(expenditure) for the year/ Net movement in funds 3,309 20,677 Fund balances at 1 January 2023 23,972 18,300 Fund balances at 31 December 2023 27,281 38,977 |
Total Unrestricted Restricted funds funds 2023 2022 2022 £ £ £ 118,918 23,609 35,921 94,932 25,963 34,327 94,932 25,963 34,327 23,986 (2,354) 1,594 42,272 26,326 16,707 66,258 23,972 18,301 |
Total 2022 £ 59,530 60,290 60,290 (760) 43,033 42,273 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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CHORLEY COMMUNITY CHURCH (NORTH EAST LONDON GOSPEL MISSION)
BALANCE SHEET
AS AT 31 DECEMBER 2023
| Notes Current assets Debtors 5 Cash at bank and in hand Creditors: amounts falling due within one year 7 Net current assets The funds of the Charity Restricted income funds 8 Unrestricted funds |
2023 £ - 66,995 66,995 737 |
£ 66,258 38,977 27,281 66,258 |
2022 £ 122 42,829 42,951 678 |
£ 42,273 |
|---|---|---|---|---|
| 18,301 23,972 |
||||
| 42,273 |
The financial statements were approved by the Trustees on 8 August 2024
Mr Joe Rodriguez Trustee
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CHORLEY COMMUNITY CHURCH (NORTH EAST LONDON GOSPEL MISSION)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
1 Accounting policies
Charity information
Chorley Community Church (North East London Gospel Mission) is a charity governed by a trust deed and is constituted as a trust.
1.1 Accounting convention
The financial statements have been prepared in accordance with the Charity's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements 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 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors 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.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.
1.3 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.
Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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CHORLEY COMMUNITY CHURCH (NORTH EAST LONDON GOSPEL MISSION)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
1 Accounting policies
(Continued)
1.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.5 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.
2 Charitable activities
| Charitable | Charitable |
|
|---|---|---|
| Expenditure | Expenditure | |
| 2023 | 2022 | |
| £ | £ | |
| Staff costs | 31,801 | 19,120 |
| General ministry (incl. speaker exps) | 20,178 | 15,688 |
| Utilities including telephone | 6,102 | 3,528 |
| Insurance | 1,737 | 1,551 |
| General repairs and maintenance | 1,462 | 2,900 |
| Governance | 600 | 720 |
| Miscellaneous | 807 | 1,229 |
| Shoebox expenses | 100 | 347 |
| Food kitchen / foodbank initiative | 200 | - |
| Youth ministry (incl youth workers) | 27,995 | 10,584 |
| Building repairs and equipment | 3,400 | 2,578 |
| Greener Energy Project | 550 | 2,045 |
| 94,932 | 60,290 | |
| Analysis by fund | ||
| Unrestricted funds | 30,986 | 25,963 |
| Restricted funds | 63,946 | 34,327 |
| 94,932 | 60,290 |
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CHORLEY COMMUNITY CHURCH (NORTH EAST LONDON GOSPEL MISSION)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
3 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.
4 Employees
The average monthly number of persons employed by the charity during the year was:
| 2023 | 2022 | ||
|---|---|---|---|
| Number | Number | ||
| 2 | 1 | ||
| 5 | Debtors | ||
| 2023 | 2022 | ||
| Amounts falling due within one year: | £ | £ | |
| Other debtors | - | 122 | |
| 6 | Assets retained for charity's own use | ||
| 2023 | |||
| £ | |||
| Freehold building | 1,620,414 | ||
| Equipment | 75,382 |
The trustees have used insurance values as the trustees are unable to reliably estimate current values; insurance values may differ materially from current values.
7 Creditors: amounts falling due within one year
| Other taxation and social security Accruals and deferred income |
2023 £ 137 600 737 |
2022 £ 78 600 |
|---|---|---|
| 678 |
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CHORLEY COMMUNITY CHURCH (NORTH EAST LONDON GOSPEL MISSION)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
8 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
| Movement in funds | Movement in funds | Movement | |||||
|---|---|---|---|---|---|---|---|
| in funds | |||||||
| Balance at | Incoming | Resources | Balance at | Incoming | Balance at | ||
| 1 January 2022 | resources | expended | 1 | January 2023 | resources | 31 December | |
| 2023 | |||||||
| £ | £ | £ | £ | £ | £ | ||
| Building Fund | 4,792 | 976 | (3,566) | 4,542 | - | 4,542 | |
| Greener Energy Project | 2,479 | - | - | - | - | - | |
| Youth Work Fund | 2,801 | 16,195 | (10,641) | 26,836 | - | 26,836 | |
| Youth Lighthouse | 1,898 | - | - | - | - | - | |
| City Bridge | (55) | 5,895 | (11,483) | 17,378 | - | 17,378 | |
| Shoebox Fund | (137) | - | - | - | - | - | |
| Wise Owls | 632 | 12,855 | (8,637) | 21,492 | - | 21,492 | |
| Worker Support | 4,088 | - | - | - | - | - | |
| Food kitchen/food bank | |||||||
| intiative | 209 | - | - | - | - | - | |
| Other | 1,019 | - | (1,019) | 1,019 | - | 1,019 | |
| 16,707 | 35,921 | (35,346) | 18,300 | - | 38,977 |
9 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 January | Incoming | Resources | At 31 | |
|---|---|---|---|---|
| 2023 | resources | expended | December | |
| 2023 | ||||
| £ | £ | £ | £ | |
| General funds | 23,972 | 34,295 | (30,986) | 27,281 |
| Previous year: | At 1 January | Incoming | Resources | At 31 |
| 2022 | resources | expended | December | |
| 2022 | ||||
| £ | £ | £ | £ | |
| General funds | 26,326 | 23,609 | (25,963) | 23,972 |
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