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2020-12-31-accounts

Charity number: 506576

VICTORIA PARK FELLOWSHIP

Trustees' report and financial statements

Year Ended 31 December 2020

Accounts Prepared & Examined by:-

David R S Welch FCA, DChA Chartered Accountant & Independent Examiner

3 Alvington Grove Hazel Grove, Stockport Cheshire, SK7 5LS

VICTORIA PARK FELLOWSHIP

Trustees' report and financial statements

Year Ended 31 December 2020

Contents
Page
Legal and administrative information 1
Trustees report 2-3
Statement of financial activities 4
Income and expenditure account 5
Balance sheet 6
Notes to the financial statements 7 - 10
Independent Accountants Report 11

VICTORIA PARK FELLOWSHIP

Trustees' report and financial statements

Year Ended 31 December 2020

LEGAL AND ADMINISTRATIVE INFORMATION

Status of VPF & Incorporated by: Trust Deed dated 14th December 1973. Trustees Malcolm Peter Brook Andrew Peter March Omotayo Otokiti Matthew Armstrong Administrator Annie Clarke Charity number 506576 Registered office & The Chapel, Business Address 31A, Daisy Bank Road Victoria Park Manchester M14 5QP Chartered Accountant & David R S Welch FCA, DChA Independent Examiner 3 Alvington Grove Hazel Grove Stockport Cheshire SK7 5LS Bankers Santander Bank Barclays Bank

Victoria Park Fellowship Trustees Report Year Ended 31 December 2020 Trustees Report

Legal Status:-

Victoria Park Fellowship is constituted by Deed of Trust and is a registered Charity No 506576

Charitable Objects:

The registered address of Victoria Park Fellowship is:The Chapel, 31A Daisy Bank Road, Victoria Park , Manchester M14 5GP.

Dr M P Brook, Mr A P March, Mr Omotayo Otokiti, and Matthew Armstrong.

Administrative structure:

Regular Activities of the Church:

Victoria Park Fellowship Trustees Report Year Ended 31 December 2020 Trustees Report {continued}

Regular Activities of the Church {continued}:

Other events:

Other activities

Risk Assessment:

This report was prepared by Malcolm P Brook, 18 February 2021.

VICTORIA PARK FELLOWSHIP Trustees' report and financial statements Year Ended 31 December 2020

STATEMENT OF FINANCIAL ACTIVITIES

_ includes designated funds_
Incoming resources
Donations (Note 2)
Activities in furtherance
of the charity's objects (Note 3)
Income from 33 Daisybank Rd.
Bank Interest Received
Other Income
Revaluation of the Chapel
Total incoming resources
Charitable expenditure
Cost of activities in furtherance of
the charity's objects:
Mission, Ministry and Relief
Chapel Costs
Running Costs - 33 Daisybank Rd.
Other Charitable Activities
Total Costs of Activities
Support and Admin costs (Note 4)
Governance (Note 5)
Depreciation of Assets (Note 6)
Total charitable expenditure
Net movement in funds before transfers
Transfers between funds
Net movement in funds after transfers
Surplus on Revaluation of Fixed Assets
Total Surplus (Deficit) for the year
Total funds brought forward
Total funds carried forward*		 Unrestricted
Restricted
2020
2019
funds
funds
Total
Total
£
£
£
£*
37,788
0
37,788
36,297
8,358
0
8,358
10,197
8,555
0
8,555
4,850
10
0
10
21
60
0
60
5
0
0
0
0
54,771
0
54,771
51,370
Unrestricted
Restricted
2020
2019
funds
funds
Total
Total
£
£
£
£
30,160
0
30,160
29,727
2,448
0
2,448
3,657
7,114
0
7,114
6,384
0
0
0
92
39,722
0
39,722
39,860*
2,051
0
2,051
3,288
1,200
0
1,200
1,200
11,195
0
11,195
12,686
54,168
0
54,168
57,034
603
0
603
0
-3,092
3,092
0
0
-2,489
3,092
603
-5,664
0
0
0
0
-2,489
3,092
603
-5,664
496,003
1,073
497,076
502,740
493,514
4,165
497,679
497,076

VICTORIA PARK FELLOWSHIP Trustees' report and financial statements Year Ended 31 December 2020

INCOME AND EXPENDITURE ACCOUNT


Operating Surplus on Main Objectives of
Church Ministry & Activities
Income{See Notes 2 & 3}
Total expenditure{See Notes 4 & 5}
Depreciation of Assets{See Note 6}
Operating surplus / (deficit)
Net Income from Residents
Income for 33 Daisybank Rd
Expenditure for 33 Daisybank Rd.
Net Income (Deficit) from Residents
Investment Income
Bank Interest Received
Other Income
Net retained surplus (deficit) for the financial year

Surplus on Revaluation of Fixed Assets


Total retained Surplus for the financial year

 2020
2019
£
£
46,146
46,494
(35,859)
(37,964)
(11,195)
(12,686)
_
_
£ (908)
£ (4,156)
_
_
8,555
4,850
(7,114)
(6,384)
_
_
£ 1,441
£(1,534)
_
_
£10
21
_
_
£ 60
£ 5
_
_
£ 603
£ (5,664)
=======
========
£
0
£ 0
_
_
£ 603
£ (5,664)
=======
========

All activities relate to continuing operations .

VICTORIA PARK FELLOWSHIP

Trustees' report and financial statements Year Ended 31 December 2020

Balance Sheet

As at 31 December 2020

Notes
Fixed assets
Tangible assets
6
Current assets
Stocks
Debtors
7
Cash at bank and in hand
Creditors: amounts falling
due within one year 8
Net current assets
Net assets
Represented by:- Trustee Funds
Unrestricted funds
9
Restricted funds
10
Movement in Trustee Funds
Total Trustee Funds brought forward
Surplus / (Deficit) for year
Total Trustee Funds carried forward		 2020
£
£
458,073
0
4,581
36,726
_
41,307
(1,701)
_
39,606
_
£ 497,679
_
493,514
4,165
_
£ 497,679
_
497,076
603
_
£497,679
_		 2019
£
£
469,268
0
4,576
24,710
_
29,286
(1,478)
_
20,786
_
£ 497,076
_
496,003
1,073
_
£ 497,076
_
502,740
(5,664)
_
£ 497,076
_

The financial statements were approved by the Trustees on 15[th] March 2021 and signed on its behalf by

..................................... Dr. Malcolm Peter Brook

Trustees' report and financial statements Year Ended 31 December 2020

VICTORIA PARK FELLOWSHIP

Notes to the financial statements

1. Accounting policies

1.1. Accounting convention

The financial statements are prepared under the historical cost convention and follow the recommendations in 'Accounting and Reporting by Charities: Statement of Recommended Practice issued in 2005, and the Charities Act 2006.

The charity has taken advantage of the exemption in FRS1 from the requirement to produce a cash flow statement because it is a small charity.

1.2. Incoming resources

Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable. Gifts donated for resale are included as income when they are sold. Donated assets are included at the value to the charity where this can be quantified and a third party is bearing the cost. The value of services provided by volunteers has not been included.

Income from investments is included in the year in which it is receivable.

1.3. Resources expended

Resources expended are recognized in the year in which they are incurred.

Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management.

Management and administration costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

1.4. Tangible fixed assets and depreciation

Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

Freehold Land & Buildings - 2 % on Revaluation of Chapel & Cost of
Residential Property @ 33 Daisybank Road.
Both properties will be depreciated on a straight line basis.
Plant and machinery - 25% reducing balance
Fixtures, fittings
and equipment - 25% reducing balance

Items below £1,000 are written off with Repairs and Maintenance expenditure. Only items above this amount are capitalized.

1.5.

Stock

Stock is valued at the lower of cost and net realizable value.

VICTORIA PARK FELLOWSHIP

Trustees' report and financial statements Year Ended 31 December 2020

Notes to the financial statements {continued}

2. Donations
Unrestricted Restricted
funds funds 2020 2019
£ £ £ £
Gift Aided Offerings and Donations 8,852 18,386 27,238 25,066
Non- Gift Aided Offerings and Donations 9,267 1,283 10,550 11,231
Total Offerings & Donations Received £18,119 £19,669 £ 37,788 £36,297
3. Activities in furtherance of
the charity's objects
Unrestricted Restricted
funds funds 2020 2019
£ £ £ £
Gift Aid 4,165 2,645 6,810 6,254
GASDS –re 2020 1,548 0 1,548 3,853
Income from Use of Chapel 0 0 0 90
Total Gift Aid Received £5,713
£2,645		 £ 8,358 £10,197
4. Support and Administration costs
{_Unrestricted_Funds}
2020 2019
£
 £
Repairs and maintenance 0 0
Printing, postage and stationery 938 1,101
Telephone 0 0
Other fees 0 1,500
General & Office Expenses 805 388
Subscription & Licenses 281 271
Bank Interest and charges 27 28
£ 2,051 £3,288
5. Governance
{_Unrestricted_Funds} 2020 2019
£
 £
Accountancy fees £ 1,200
 £ 1,200

VICTORIA PARK FELLOWSHIP

Trustees' report and financial statements Year Ended 31 December 2020

Notes to the financial statements {continued}

6. TANGIBLE FIXED ASSETS
COST
Balance at 1st January 2020
Additions in Year
Revaluation of Fixed Assets
Disposals in Year
Balance at 31st December 2020
DEPRECIATION
Balance at 1stJanuary 2020
Charge for Year
Charge on Revaluation of Fixed Assets
Eliminated on Disposals in Year
Balance at 31st December 2020
NET BOOK VALUES
At 31st December 2020
At 31st December 2019
Valuation of Land & Buildings is split as follows:-
Land & Buildings – 33 Daisy Bank Road
(Cost £283,700) – December 2020
Land & Buildings –Chapel (Cost £128,010)
Chapel Revaluation £215,000 {In 2019}
Chapel Additions in 2020/ 2019 £110,000
Per Assets summary.		 Land &
Plant &
Fixtures,
Worship
Total
Buildings
Machinery
Fittings &
& Library
Freehold
Equipment
Books
£
£
£
£
£
564,293
22,572
33,429
2,974
623,268
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
564,293
22,572
33,429
2,974
623,268
103,159
22,133
25,775
2,933
154,000
9,974
66
1149
6
11,195
0
0
0
0
0
0
0
0
0
0
113,133
22,199
26,924
2,939
165,195
£451,160
£373
£6,505
£35
£458,073
£461,134
£439
£7,654
£41
£469,268
NBV’s
NBV’s
NBV’s
NBV’s
31.12.20
31.12.19
31.12.18
31.12.17
£
£
£
£
244,760
250,434
256,108
261,342
206,400
210,700
62,417
62,417
0
0
42,583
0
0
0
110,000
0
£451,160
£461,134
£471,108
£323,759

Depreciation on Land & Buildings has been charged at 2% on Cost for 33 Daisy Bank Road = £5,674, and 2% on the Revaluation of the Chapel = £4,300, so £9,974. Depreciation of all other fixed assets is at 25% on NBV, totaling £1,221

.

7.
Debtors


Gift Aid
Prepayments and accrued income
Other Debtor

8.
Creditors: amounts falling due
within one year


Accruals and deferred income		 2020
£
1,685
2,896
0
_
4,581 **
_
2020

£

1,701
_
1,701**
_		 2019
£
1,967
2,609
0
_
4,576
_
2019
£
1,478
_
1,478
_

VICTORIA PARK FELLOWSHIP Trustees' report and financial statements Year Ended 31 December 2020

Notes to the financial statements {continued}

9. Unrestricted funds
2020
 2019
£
 £
Unrestricted Fund - General 493,514 496,003
Designated Funds 0 0
_ _
£ 493,514 £ 496,003
_ _
10. Restricted funds 2020
 2019
£
 £
Chapel 0 0
C2C & Other UK & International Ministries 4,165 1,073
_ _
£ 4,165 £ 1,073
_ _
Purposes of restricted funds

Chapel funds

Are set aside to meet costs to re-develop the chapel which is now the normal place of worship for Victoria Park Fellowship.

C2C & Other UK & International Ministries

A r e monies set aside for children’s’ work, which encourages children from VCF to work with other children abroad, or within the community.

VICTORIA PARK FELLOWSHIP Year Ended 31 December 2020

INDEPENDENT EXAMINERS REPORT

TO THE TRUSTEES OF VICTORIA PARK FELLOWSHIP .

I report on the accounts of the Church Fellowship for the Year Ended 31st December 2020, which are set out on pages 2 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 of the Charities Act 2011

(the Charities Act) and that an independent examination is needed. It is my responsibility to:-

Basis of independent examiner’s report

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. 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 seeking explanations from the 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 give 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:

DAVID R S WELCH FCA, DChA CHARTERED ACCOUNTANT & INDEPENDENT EXAMINER

3 Alvington Grove, Hazel Grove Stockport, Cheshire SK7 5LS Date:- 15[th] March 2021