Annual Report and Financial Statements for the Year Ended 31 March 2021
## St Stephen Society
Charity registration number: 285391
Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham PO18 8NF
## **ST STEPHEN SOCIETY**
## **Contents**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 3|
|Independent Examiner's Report|4|
|Statement of Financial Activities|5|
|Balance Sheet|6|
|Notes to the Financial Statements|7 to 11|
## **ST STEPHEN SOCIETY**
## **Reference and Administrative Details**
**Trustees** Stephen Ruttle James Odgers Caroline Collington Lloyd Belcher Deborah Foster Thomas Archer **Honorary officer** Deborah Foster **Principal Office** 6 Jubilee Road St George Bristol BS5 8HZ **Charity Registration** 285391 **Number Bankers** National Westminster Bank plc 1 Princes Street London EC2R 8PA **Independent Examiner** G W Schulz ACMA Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham PO18 8NF
Page 1
## **ST STEPHEN SOCIETY**
## **Trustees' Report**
The Trustees present the annual report together with the financial statements of the charity for the year ended 31 March 2021.
## **Objectives and Activities**
## _**Policies and objectives**_
The objectives of the charity are the promotion of the Christian faith and relief of poverty throughout the world.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the charity commission relating to public benefit and in particular to its supplementary public benefit guidance.
## **Achievements and performance**
## _**Review of activities**_
Jackie Pullinger-To's ministry in Hong Kong continues to rescue people from addictions and to bring them into a closer relationship with the Lord Jesus Christ.
The Trustees continue to consider that this ministry represents the best use for the monies received from donors in the UK and thus again monies have been transferred to the sister charity in Hong Kong, St Stephen's Society.
## **Financial review**
## _**Going concern**_
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
## _**Principal risks and uncertainties**_
The Trustees consider that the main risks of governing the charity are in connection with the management of its cash assets and with the dissemination of grants payable which are reviewed formally by the Trustees at each meeting.
## **Structure, governance and management**
## _**Constitution**_
The charity was incorporated by Trust Deed on 6 August 1982 and commenced operating on that date.
Page 2
## **ST STEPHEN SOCIETY**
## **Trustees' Report**
## _**Method of appointment or election of trustees**_
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
## _**Organisational structure and decision making**_
The charity is managed by the Trustees and the Honorary officer.
## **Statement of Trustees' Responsibilities**
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities 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 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 proper 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 applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The Trustees 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 annual report was approved by the Trustees of the charity on 8 January 2022 and signed on its behalf by:
......................................... Deborah Foster Trustee
Page 3
## **ST STEPHEN SOCIETY**
## **Independent Examiner's Report to the trustees of St Stephen Society**
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 March 2021 which are set out on pages 5 to 11.
## **Respective responsibilities of Trustees and examiner**
As the charity’s Trustees of St Stephen Society 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 St Stephen Society's accounts carried out under section 145 of the 2011 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:
1. accounting records were not kept in respect of St Stephen Society as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting 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.
...................................... G W Schulz ACMA
Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham PO18 8NF
8 January 2022
Page 4
## **ST STEPHEN SOCIETY**
## **Statement of Financial Activities for the Year Ended 31 March 2021**
|**Note**
**Unrestricted**
**funds**
**£**
**Income and Endowments from:**
Donations and legacies
70,352
Investment income
3
14
Total income
70,366
**Expenditure on:**
Charitable activities
4
48,725
Total expenditure
48,725
Net income
21,641
Net movement in funds
21,641
**Reconciliation of funds**
Total funds brought
forward
37,122
Total funds carried
forward
8
58,763|**Restricted**
**funds**
**£**
300
-
300
-
-
300
300
-
300|**Total**
**2021**
**£**
70,652
14
70,666
48,725
48,725
21,941
21,941
37,122
59,063|**Total**
**2020**
**£**
69,602
60|
|---|---|---|---|
||||69,662|
||||50,875|
||||50,875|
||||18,787|
||||18,787
18,335|
||||37,122|
Page 5
## **ST STEPHEN SOCIETY**
## **Balance Sheet as at 31 March 2021**
|**Note**
**Current assets**
Debtors
6
Cash at bank and in hand
**Creditors: Amounts falling due within one year**
7
**Net assets**
**Funds of the charity:**
**Restricted income funds**
Restricted funds
**Unrestricted income funds**
Unrestricted funds
**Total funds**
8|**2021**
**£**
16,375
43,697
60,072
(1,009)
59,063
300
58,763
59,063|**2020**
**£**
7,004
31,018|
|---|---|---|
|||38,022
(900)|
|||37,122|
|||-
37,122|
|||37,122|
The financial statements on pages 5 to 11 were approved by the Trustees, and authorised for issue on 8 January 2022 and signed on their behalf by:
......................................... Deborah Foster Trustee
Page 6
## **ST STEPHEN SOCIETY**
## **Notes to the Financial Statements for the Year Ended 31 March 2021**
## **1 Accounting policies**
## **Statement of compliance**
The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
## **Basis of preparation**
St Stephen Society meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## **Income and endowments**
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
## _**Donations and legacies**_
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
## _**Gift aid**_
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
## _**Interest receivable**_
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category.
Page 7
## **ST STEPHEN SOCIETY**
## **Notes to the Financial Statements for the Year Ended 31 March 2021**
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## _**Grant expenditure**_
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
## **Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount incurred net of any trade discounts due.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## **Liabilities**
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the Trustees's discretion in furtherance of the objectives of the charity.
## **Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Page 8
## **ST STEPHEN SOCIETY**
## **Notes to the Financial Statements for the Year Ended 31 March 2021**
## **2 Income from donations and legacies**
|**Unrestricted**
**funds**
**General**
**£**
Donations and legacies;
Donations
60,980
Gift aid reclaimed
9,372
70,352|**Restricted**
**funds**
**£**
300
-
300|**Total**
**2021**
**£**
61,280
9,372
70,652|**Total**
**2020**
**£**
62,598
7,004|
|---|---|---|---|
||||69,602|
## **3 Investment income**
|**Unrestricted**
**funds**
**General**
**£**
Interest receivable and similar income;
Interest receivable on bank deposits
14
**4 Expenditure on charitable activities**
**Unrestricted**
**funds**
**General**
**£**
Bank charges
65
Independent examination
660
Grant funding of activities
48,000
48,725|**Total**
**2021**
**£**
14
**Total**
**2021**
**£**
65
660
48,000
48,725|**Total**
**2020**
**£**
60|
|---|---|---|
|||**Total**
**2020**
**£**
35
840
50,000|
|||50,875|
## **5 Trustees remuneration and expenses**
No Trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
## **6 Debtors**
|Accrued income
Page 9|**2021**
**£**
16,375|**2020**
**£**
7,004|
|---|---|---|
||||
## **ST STEPHEN SOCIETY**
## **Notes to the Financial Statements for the Year Ended 31 March 2021**
|**7 Creditors: amounts falling due within one year**
Accruals
**8 Funds**
**Statement of funds - current year**
**Balance at**
**1 April**
**2020**
**£**
**Incoming**
**resources**
**£**
**Unrestricted funds**
**_General_**
General Funds
37,122
70,366
**Restricted funds**
Specific gifts
-
300
**Total funds**
37,122
70,666
**Statement of funds - prior year**
**Balance at**
**1 April**
**2019**
**£**
**Incoming**
**resources**
**£**
**Unrestricted funds**
**_General_**
General Funds
18,335
69,662||**2021**
**£**
1,009
**Resources**
**expended**
**£**
(48,725)
-
(48,725)
**Resources**
**expended**
**£**
(50,875)|**2020**
**£**
900|
|---|---|---|---|
||||**Balance at**
**31 March**
**2021**
**£**
58,763
300|
||||59,063|
||||**Balance at**
**31 March**
**2020**
**£**
37,122|
Page 10
## **ST STEPHEN SOCIETY**
## **Notes to the Financial Statements for the Year Ended 31 March 2021**
## **9 Analysis of net assets between funds**
|**9 Analysis of net assets between funds**||||
|---|---|---|---|
|Current assets
Current liabilities
Total net assets|**Unrestricted**
**funds**
**General**
**£**
59,772
(1,009)
58,763|**Restricted**
**funds**
**£**
300
-
300|**Total funds**
**2021**
**£**
60,072
(1,009)|
||||59,063|
|Current assets
Current liabilities
Total net assets|**Unrestricted**
**funds**
**General**
**£**
38,022
(900)
37,122|**Restricted**
**funds**
**£**
-
-
-|**Total funds**
**2020**
**£**
38,022
(900)|
|---|---|---|---|
||||37,122|
Page 11