REGISTERED CHARITY NUMBER: 328513
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
FOR
TOGETHER FOR CHRIST HIS KINGDOM AND HIS CHURCH
Harrison Beale & Owen Limited Chartered Accountants Highdown House 11 Highdown Road Leamington Spa Warwickshire CV31 1XT
TOGETHER FOR CHRIST HIS KINGDOM AND HIS CHURCH
CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 March 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 11 |
| Detailed Statement of Financial Activities | 12 | to | 13 |
TOGETHER FOR CHRIST HIS KINGDOM AND HIS CHURCH
REPORT OF THE TRUSTEES for the year ended 31 March 2022
The trustees present their report with the financial statements of the charity for the year ended 31 March 2022. 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
Together for Christ, His Kingdom and His Church was constituted by a Declaration of Trust dated 21st December 1989 and is a registered Charity number 328513.
The Charity's former name Covenant Ministries International was changed by supplementary deed dated, 15th July 2005.
The Charity operates under the name of Together for Christ, His Kingdom and His Church from its offices at Nettle Hill, Brinklow Road, Ansty, Coventry, CV7 9JL.
The objectives of the charity are:
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The advancement of the Christian Faith
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The relief of persons in need or hardship
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The provision of education, on the basis of Christian principles
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The provision of conference facilities to the Church and outside
The Trust supports the activities of men and women in ministering to the Church in the UK and elsewhere in the world.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The on-going aims of the Trust were the central focus this year, being outworked and fulfilled through a variety of activities including:
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Support and development of various people in ministry, by raising funding and support to specific UK and overseas
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missions (individuals and projects) via financial means;
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Pastoral care and support of individuals and church congregations within in UK, South Africa, USA, India, Sri Lanka and Germany;
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Regular leaders' gatherings for those with oversight of related churches/other leadership responsibilities;
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Support and finance for those in need, hardship and distress whenever possible;
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Continued work in both the UK and overseas, developing relationships with similar church settings along with national and international organisations;
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The provision of conference facilities for various events;
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National and International events including educational programmes, equipping and empowering people in various
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skills/vocations in their faith.
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Ongoing development of the South African teaching base,
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Improvements to the Nettle Hill site, including grounds and buildings.
The trustees feel that the charity is on-line in fulfilling its objectives.
This year has been challenging as we sought to re-establish ourselves following the pandemic.
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TOGETHER FOR CHRIST HIS KINGDOM AND HIS CHURCH
REPORT OF THE TRUSTEES for the year ended 31 March 2022
ACHIEVEMENT AND PERFORMANCE
The on-going aims of the Trust were the central focus this year, being outworked and fulfilled through a variety of activities including:
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Support and development of various people in ministry, by raising funding and support to specific UK and overseas missions (individuals and projects) via financial means;
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Pastoral care and support of individuals and church congregations within in UK, South Africa, USA, India, Sri Lanka and Germany in particular;
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Regular leaders' gatherings for those with oversight of related churches/other leadership responsibilities;
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Support and finance for those in need, hardship and distress whenever possible;
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Continued work in both the UK and overseas, developing relationships with similar church settings along with national and international organisations;
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The provision of conference facilities for various events;
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National and International events including educational programmes, equipping and empowering people in various skills/vocations in their faith, have had to take place mostly via Zoom due to the continuing Pandemic restrictions;
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Ongoing development of the South African teaching base,
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Improvements to the Nettle Hill site, including grounds and buildings. The trustees feel that the charity is on-line in fulfilling its objectives.
This year has been challenging from the Pandemic stand point, effecting all we do, and forcing us to re think many areas of practice.
FINANCIAL REVIEW
Financial performance and position
Full details of the financial transactions are contained in the attached accounts and the total incoming resources for the year were £138,699. After deducting resources expended of £668,511, the net outgoing resources were £529,812 compared with net outgoing resources of £29,745 last year. The net assets of the Trust at 31st March 2022 were £1,516,765.
Investment policy and objectives
The Trustees have considered the most appropriate policy for investing funds. Short term reserves will be held in the Trusts' interest bearing bank account.
Reserves policy
The Trustees have reviewed the Charity's needs for reserves in line with the guidance issued by the Charity Commission and consider it prudent that unrestricted reserves should be sufficient to avoid the necessary of realising fixed assets held for the Charity's use.
The Trustees are confident that future income will enable the charity to meet its foreseeable needs, on the basis of planned activity.
FUTURE PLANS
The charity plans to continue to achieve its aims and objectives through its current activities as well as through the following future developments:
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Developing relationships with similar organisations in both the UK and overseas;
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The continual establishment of Covenant College courses at the South African campus;
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Development of widows programme along with growing food project within the curtilage of South African campus;
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Organisation
Trustees are appointed under the provisions of the Declaration of Trust.
The Trustees who served during the year and since the year end are set out below. Trustees meetings are held regularly to review the progress being made towards fulfilling the objectives of Together for Christ, His Kingdom and His Church and to set goals for future developments. There are no full-time employees, the day to day administration of the charity is carried out by volunteer help.
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TOGETHER FOR CHRIST HIS KINGDOM AND HIS CHURCH
REPORT OF THE TRUSTEES for the year ended 31 March 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management
The Trustees have assessed the major risks to which the charity is exposed, in particular those relating to the operations and finance of Together for Christ, His Kingdom and His Church, and are satisfied that systems are in place to mitigate exposure to the major risks.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
328513
Principal address
Nettle Hill Brinklow Road Ansty Coventry West Midlands CV7 9JL
Trustees
A R Hulley G F H Parker G L Duffty
Independent Examiner
Harrison Beale & Owen Limited Chartered Accountants Highdown House 11 Highdown Road Leamington Spa Warwickshire CV31 1XT
Bankers
Lloyds Bank 30 High Street Coventry West Midlands CV1 5RA
Approved by order of the board of trustees on 31 January 2023 and signed on its behalf by:
G L Duffty - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF TOGETHER FOR CHRIST HIS KINGDOM AND HIS CHURCH
Independent examiner's report to the trustees of Together for Christ His Kingdom and His Church
I report to the charity trustees on my examination of the accounts of Together for Christ His Kingdom and His Church (the Trust) for the year ended 31 March 2022.
Responsibilities and basis of report
As the charity trustees of the Trust 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 Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all 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:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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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.
Gregg Olner MPhil BA(Hons) ACA ICAEW Harrison Beale & Owen Limited Chartered Accountants Highdown House 11 Highdown Road Leamington Spa Warwickshire CV31 1XT
31 January 2023
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TOGETHER FOR CHRIST HIS KINGDOM AND HIS CHURCH
STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2022
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Other trading activities 2 Investment income 3 Total EXPENDITURE ON Charitable activities Charitable activities Other Total NET INCOME/(EXPENDITURE) Other recognised gains/(losses) Gains on revaluation of fixed assets Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2022 Unrestricted funds £ 46,216 6,501 85,982 138,699 171,901 496,610 668,511 (529,812) 796,043 266,231 1,250,534 1,516,765 |
2021 Total funds £ 50,274 18,996 49,570 118,840 148,585 - 148,585 (29,745) - (29,745) 1,280,279 1,250,534 |
|---|---|---|
The notes form part of these financial statements
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TOGETHER FOR CHRIST HIS KINGDOM AND HIS CHURCH
BALANCE SHEET 31 March 2022
| Notes FIXED ASSETS Tangible assets 5 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 CREDITORS Amounts falling due after more than one year 9 NET ASSETS FUNDS 11 Unrestricted funds TOTAL FUNDS |
2022 Unrestricted funds £ 1,659,870 2,000 1,661,870 3,421 11,460 14,881 (33,232) (18,351) 1,643,519 (126,754) 1,516,765 1,516,765 1,516,765 |
2021 Total funds £ 887,113 2,000 889,113 523,679 23,283 546,962 (29,158) 517,804 1,406,917 (156,383) 1,250,534 1,250,534 1,250,534 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 31 January 2023 and were signed on its behalf by:
G L Duffty - Trustee
The notes form part of these financial statements
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TOGETHER FOR CHRIST HIS KINGDOM AND HIS CHURCH
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments and land and buildings which are included at market value, as modified by the revaluation of certain assets.
The financial statements contain information about Together for Christ, His Kingdom and His Church as an individual charity and do not contain consolidated financial information as the parent of a group.
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - shown at market value Fixtures and fittings - 15% on reducing balance
Related party exemption
The charity has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
Taxation
The charity is exempt from 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.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
Investments
Investments are recognised at cost less impairments.
continued...
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TOGETHER FOR CHRIST HIS KINGDOM AND HIS CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2022
2. OTHER TRADING ACTIVITIES
| Restoration Music Other income 3. INVESTMENT INCOME Rents received Deposit account interest |
2022 £ 6,500 1 6,501 2022 £ 85,982 - 85,982 |
2021 £ 6,000 12,996 18,996 2021 £ 49,564 6 49,570 |
|---|---|---|
4. TRUSTEES' REMUNERATION AND BENEFITS
During the year one trustee received fees of £25,046 (2021 - £17,717) in relation to ministering to the church in the UK and overseas.
The secretary received fees of £10,300 (2021 - £8,000) in relation to secretarial matters.
Trustees' expenses
Expenses amounting to £843 (2021 - £770) were paid to the trustees during the year to cover motor, travel and telephone costs.
5. TANGIBLE FIXED ASSETS
| COST OR VALUATION At 1 April 2021 Additions Revaluations At 31 March 2022 DEPRECIATION At 1 April 2021 Charge for year Revaluation adjustments At 31 March 2022 NET BOOK VALUE At 31 March 2022 At 31 March 2021 |
Freehold property £ 1,456,613 - 193,387 1,650,000 579,850 22,807 (602,657) - 1,650,000 876,763 |
Fixtures and fittings £ 477,420 1,176 - 478,596 467,070 1,656 - 468,726 9,870 10,350 |
Totals £ 1,934,033 1,176 193,387 2,128,596 1,046,920 24,463 (602,657) 468,726 1,659,870 887,113 |
|---|---|---|---|
continued...
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TOGETHER FOR CHRIST HIS KINGDOM AND HIS CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2022
5. TANGIBLE FIXED ASSETS - continued
Cost or valuation at 31 March 2022 is represented by:
| Valuation in 2022 Cost |
Freehold property £ 193,387 1,456,613 1,650,000 |
Fixtures and fittings £ - 478,596 478,596 |
Totals £ 193,387 1,935,209 2,128,596 |
|---|---|---|---|
6. FIXED ASSET INVESTMENTS
| COST LESS IMPAIRMENT At 1 April 2021 and 31 March 2022 |
Shares in group undertakings £ 2,000 |
|---|---|
| NET BOOK VALUE At 31 March 2022 |
2,000 |
| At 31 March 2021 | 2,000 |
There were no investment assets outside the UK.
The Charity owns 100% of the share capital of Nettle Hill Limited and Restoration Music Limited. The registered offices for both of these companies are Nettle Hill, Brinklow Road, Ansty, Coventry, Warwickshire, CV7 9JL.
7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade debtors Other debtors |
2022 £ 3,421 - 3,421 |
2021 £ 1,560 522,119 523,679 |
|---|---|---|
continued...
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TOGETHER FOR CHRIST HIS KINGDOM AND HIS CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2022
| 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 £ Bank loans and overdrafts (see note 10) 27,214 Other creditors 6,018 33,232 9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2022 £ Bank loans (see note 10) 126,754 10. LOANS An analysis of the maturity of loans is given below: 2022 £ Amounts falling due within one year on demand: Bank loans 27,214 Amounts falling due between two and five years: Bank loans - 2-5 years 126,754 11. MOVEMENT IN FUNDS Net movement At 1.4.21 in funds £ £ Unrestricted funds General fund 1,250,534 (529,812) Revaluation reserve - 796,043 1,250,534 266,231 TOTAL FUNDS 1,250,534 266,231 Net movement in funds, included in the above are as follows: Incoming Resources Gains and resources expended losses £ £ £ Unrestricted funds General fund 138,699 (668,511) - Revaluation reserve - - 796,043 138,699 (668,511) 796,043 TOTAL FUNDS 138,699 (668,511) 796,043 |
2021 £ 25,442 3,716 29,158 2021 £ 156,383 2021 £ 25,442 156,383 At 31.3.22 £ 720,722 796,043 1,516,765 1,516,765 Movement in funds £ (529,812) 796,043 266,231 266,231 |
|---|---|
continued...
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TOGETHER FOR CHRIST HIS KINGDOM AND HIS CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2022
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS Comparative net movement in funds, included in the above are as Unrestricted funds General fund TOTAL FUNDS |
At 1.4.20 £ 1,280,279 1,280,279 follows: Incoming resources £ 118,840 118,840 |
Net movement in funds £ (29,745) (29,745) Resources expended £ (148,585) (148,585) |
At 31.3.21 £ 1,250,534 1,250,534 Movement in funds £ (29,745) (29,745) |
|
|---|---|---|---|---|
12. RELATED PARTY DISCLOSURES
During the year loans to Help International Limited, which is a connected charity and operated by the same trustees, of £2,049 were written off. The charity also wrote off amounts owed by Nettle Hill Limited, which is a connected, wholly owned subsidiary, totalling £475,012.
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TOGETHER FOR CHRIST HIS KINGDOM AND HIS CHURCH
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2022
| INCOME AND ENDOWMENTS Donations and legacies Gifts Gift Aid Other trading activities Restoration Music Other income Investment income Rents received Deposit account interest Total incoming resources EXPENDITURE Charitable activities Insurance Telephone Postage and stationery Advertising Sundries Property services costs Administration and consultancy costs Computer and equipment costs Motor expenses Travel and subsistence costs Charitable donations Bank charges Hospitality Depreciation of freehold property Depreciation of fixtures & fittings Bank loan interest Other Related party loan write off Support costs |
2022 £ 42,506 3,710 46,216 6,500 1 6,501 85,982 - 85,982 138,699 515 1,041 808 735 1,189 39,212 38,714 1,902 3,269 6,925 36,069 246 9,918 22,807 1,655 2,927 167,932 496,610 |
2021 £ 46,510 3,764 50,274 6,000 12,996 18,996 49,564 6 49,570 118,840 735 1,168 256 333 351 17,364 37,396 3,339 6,738 9,638 28,148 1,246 2,801 26,313 1,826 8,833 146,485 - |
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This page does not form part of the statutory financial statements
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TOGETHER FOR CHRIST HIS KINGDOM AND HIS CHURCH
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2022
| Support costs Governance costs Independent examiner's fees Total resources expended Net expenditure |
2022 £ 3,969 668,511 (529,812) |
2021 £ 2,100 148,585 (29,745) |
|---|---|---|
This page does not form part of the statutory financial statements
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