Everyday Champions Centre - Charities report - 18.1
Everyday Champions Centre - Charities report - 18.1
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended |
31 March 2018 |
for |
Everyday Champions Centre |
Everyday Champions Centre |
Contents of the Financial Statements |
for the Year Ended 31 March 2018 |
|
Page |
Reference and Administrative Details | 1 |
Chairperson's report from G Morgan | 2 |
Report of the Trustees | 3 to 10 |
Independent Examiner's Report | 11 |
Statement of Financial Activities | 12 |
Balance Sheet | 13 to 14 |
Cash Flow Statement | 15 |
Notes to the Cash Flow Statement | 16 |
Notes to the Financial Statements | 17 to 27 |
Everyday Champions Centre |
Reference and Administrative Details |
for the Year Ended 31 March 2018 |
|
TRUSTEES | Dr A Davies (Academic Director At University) |
T A Davis (Accountant) |
J W Loades (Project Manager) |
G E Morgan (Minister) |
L R Button (Director) |
COMPANY SECRETARY | M J Sivers |
REGISTERED OFFICE | Jessop Close |
Newark |
Nottinghamshire |
NG24 4AG |
REGISTERED COMPANY NUMBER | 05986749 (England and Wales) |
REGISTERED CHARITY NUMBER | 1119240 |
INDEPENDENT EXAMINER | Willsons |
Chartered Accountants |
Carlton House |
High Street |
Higham Ferrers |
Northamptonshire |
NN10 8BW |
Everyday Champions Centre |
Chairperson's report from G Morgan |
for the Year Ended 31 March 2018 |
I am pleased to report that 2017-18 was another year of progress for Everyday Champions (EC). Our key word for this |
year has been 'identity' and the focus has been on clearly communicating the message of Everyday Champions and how |
we can best serve our communities alongside many other great churches. We have undertaken a re-branding as part of |
this year which has given us a platform to better engage with our communities with our transformational message. |
We have a fully operational organisation that works out from Greenwich, London to our other three locations in Newark, |
Wellingborough and Swansea. All systems and structures are in place to support our evolving vision to… |
i) Re-engineer the church to take its unchanging message and yet embrace the rapidly changing social norms of society |
ii) Build a coaching culture and framework that mobilises people inside the church to have a positive impact on the |
sphere of society within which they work |
iii) Enable people to experience the joy of being in an inclusive family any day of the week as well as Sunday's. |
Throughout this year Greenwich community has been focussed on engaging with the community through Coffee hut. |
Coffee hut is run in conjunction with our sister charity i61 and serves free high quality gourmet coffee to the community |
along with pastries. Every Sunday for at least 2 hours we have served 70 people on average every week having |
conversations with at least 2500 different people of all ages, backgrounds and socio-economic backgrounds. This has |
enabled us to identify and respond to needs and also inform future planning. We have listened to people and used |
questionnaires and feedback forms to gather information on the key areas they feel we can serve them best with what we |
have to offer. |
One of the key areas that they highlighted was a desire for them to be helped in understanding how they could impact |
society in a positive way. This led to us running a pilot scheme called 'impact coaching' which takes a coaching |
framework delivered by myself and running online webinars and in-house coaching and coffee. We learned a lot through |
this process and taking ideas forward into how we can offer this moving forwards. |
We are slowly but surely creating a strong culture that empower people to believe that in Christ they are Champions in |
life. Here is a short testimony of one young man called Matthew who represents countless many others who can share |
similar stories of how Everyday Champions has created a transformational change in their lives. |
"God has given me motivation to be the best person, man, and husband I could possibly be by using his word and |
guidance as a cornerstone in my life. He has changed my outlook on life in every aspect, whether it be personal, family, |
or professional life. God has changed the way I deal with situations and how to handle everything that comes my way by |
putting Him first and giving Him the glory in every move. He has changed my perception of the phrase 'Losing', for I am |
never truly losing, as I am constantly winning when under his mighty power and grace." |
We are always grateful for the army of people who have invested their time, talents and treasure into Everyday |
Champions as their church family. We are excited by how the investment of time and resource will help us achieve |
incredible results for both the church and the communities we are serving. |
Significant organisational transitions have also taken place within the businesses that are wholly owned by Everyday |
Champions to see them increase in effectiveness and profitability moving forwards. |
As of writing i61 is being signed off to be brought under the directorship of Everyday Champions as 'MiY 'More In |
You'. It will strategically be the means for the church to engage in the mainstream with the purpose of bringing positive |
transformational change. You can read more about the activities of i61 in its own report. |
We are excited by all that lies ahead and are committed more than ever to serve the people in our communities with |
every available resource we have. |
Gareth Morgan |
Everyday Champions Centre |
Report of the Trustees |
for the Year Ended 31 March 2018 |
|
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with |
the financial statements of the charity for the year ended 31 March 2018. 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 2015). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
Each of the objectives of the charity apply in such parts of the United Kingdom or the world as the directors from time to |
time may think fit. |
In practice at the moment this is in Newark in Nottinghamshire, Wellingborough in Northamptonshire, Swansea, and |
London. |
The objectives are to: |
- Advance the Christian faith in such ways as the directors think fit. |
- Relieve sickness and financial hardship and to promote and preserve health by the provision of funds, goods and |
services of any kind, including through the provision of counselling and other support. |
- Advance education |
Everyday Champions Centre |
Report of the Trustees |
for the Year Ended 31 March 2018 |
|
OBJECTIVES AND ACTIVITIES |
Significant activities |
|
Public benefit |
The trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit |
when reviewing the aims and objectives and in planning the future activities. In particular the trustees consider how |
planned activities will contribute to the aims and objectives that have been set as explained below. |
Everyday Champions Centre |
Report of the Trustees |
for the Year Ended 31 March 2018 |
|
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
|
Everyday Champions Centre |
Report of the Trustees |
for the Year Ended 31 March 2018 |
|
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
|
Everyday Champions Centre |
Report of the Trustees |
for the Year Ended 31 March 2018 |
|
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
|
Everyday Champions Centre |
Report of the Trustees |
for the Year Ended 31 March 2018 |
|
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
|
Everyday Champions Centre |
Report of the Trustees |
for the Year Ended 31 March 2018 |
|
FINANCIAL REVIEW |
Financial position |
Everyday Champion Centre in the year to 31 March 2018 had unrestricted net surplus of £146,206 before transfers. The |
charity's unrestricted reserves position has increased to £1,167,641, of which reserves relating to tangible fixed assets |
are £744,200 and long term debtors are £323,940. This reserves position is discussed further in the Reserves Policy |
section below. |
Reserves policy |
Everyday Champions Centre is currently dependent on grants and donations to sustain its activities, as earned income |
alone would not allow the charity to continue operating. |
To avoid closure if funding difficulties were to arise, the trustees have agreed to keep a certain level of financial reserves |
to ensure that main operations can continue for a period. |
The main concerns of the trustees are to ensure: |
-that staff can continue working, primarily to secure new funding |
-that users are supported to move on to other facilities and services if this proves to be necessary. |
Excluding tangible fixed assets, whose disposal would adversely impact the charity's ability to deliver its aims, |
associated lending and long term debtors, reserves at 31 March 2018 amounted to £99,501. |
We have not reached the level of reserves we want in place, which is 25% of our annual income, we achieved just under |
15%. We have plans in place to increase our reserves in the next financial year. Part of this plan is fundraising and part |
of this plan is to launch new enterprise which will increase income and allow us to save more. We have an agreed |
intention to invest in enterprise in the coming year, with the intention that in the longer term it will further our vision, |
increase our income, and raise our level of reserves. |
Going concern |
The financial statements have been prepared on a going concern basis as the trustees believe that no material |
uncertainties exist. The trustees have considered the level of funds held and the expected level of income and |
expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is |
sufficient with the level of reserves for the charity to be able to continue as a going concern. |
FUTURE PLANS |
Over the last year we have clarified a clear plan of our steps in the next 3-5 years of how to further achieve our |
objectives within our current locations. Over the last there years we have been establishing our EC communities in two |
new areas, assessing the needs in the local areas, and forming strong foundations. Now we have clarity on the next stage |
of building in those communities by establishing social enterprise café's, which will act as source of income, but also act |
as centres for the furtherance of all our objectives by:- |
- creating links between the church community and the local community, |
- offering courses which will educate and resource people in how to live life well. This may include addressing life |
controlling issues, through to coaching people in having better relationships. |
- Offering practical help to those in need, in partnership with other local organisations |
Our pop up café in Greenwich, was the first step of our future plans, we have been working to form the right vehicle to |
develop this. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by |
guarantee, as defined by the Companies Act 2006. |
Charity constitution |
The charity is a company limited by guarantee and a registered charity. It is operated under the rules of its Memorandum |
and Articles of association dated 2 November 2006 and most recently amended 10 September 2010. It has no share |
capital and the liability of each member in the event of winding-up is limited to £1. |
Everyday Champions Centre |
Report of the Trustees |
for the Year Ended 31 March 2018 |
|
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Recruitment and appointment of new trustees |
We have continued to increase skill set and experience in the management of the charity at Board level. We have |
recruited new trustees who have the experience we need as the organisation grows and develops into a multi-site |
organisation at a significant pace. |
We have employed the services of business consultants to advise us in the areas of health and safety law, and |
employment law. |
Risk management |
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate |
controls are in place to provide reasonable assurance against fraud and error. |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Everyday Champions Centre |
Independent examiner's report to the trustees of Everyday Champions Centre ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2018. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of ICAEW which is one of the listed bodies |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. |
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 |
Craig Baird, FCA |
ICAEW |
Willsons |
Chartered Accountants |
Carlton House |
High Street |
Higham Ferrers |
Northamptonshire |
NN10 8BW |
21 December 2018 |
Everyday Champions Centre |
Statement of Financial Activities |
for the Year Ended 31 March 2018 |
|
31.3.18 | 31.3.17 |
Unrestricted fund | Restricted funds | Total funds | Total funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Charitable activities | 5 |
Other trading activities | 3 |
Investment income | 4 |
Total |
EXPENDITURE ON |
Charitable activities | 6 |
Total |
Net gains/(losses) on investments |
NET INCOME |
Transfers between funds | 21 | 23,224 | (23,224 | ) | - | - |
Net movement in funds | ( | ) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 497 | 1,021,924 |
Everyday Champions Centre |
Balance Sheet |
At 31 March 2018 |
|
31.3.18 | 31.3.17 |
Unrestricted fund | Restricted funds | Total funds | Total funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 13 |
Investments |
Investments | 14 |
Investment property | 15 |
CURRENT ASSETS |
Debtors | 16 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 17 | ( | ) | ( | ) | ( | ) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 18 | ( | ) | ( | ) | ( | ) |
NET ASSETS |
FUNDS | 21 |
Unrestricted funds | 1,167,642 | 998,211 |
Restricted funds | 23,713 |
TOTAL FUNDS | 1,021,924 |
Everyday Champions Centre |
Balance Sheet - continued |
At 31 March 2018 |
|
The charitable company is entitled to exemption from audit under |
Section 477 of the Companies Act 2006 for the year ended 31 March 2018. |
The members have not required the company to obtain an audit of its financial statements for the year ended |
31 March 2018 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies |
Act 2006 relating to charitable small companies. |
The financial statements were approved by the Board of Trustees on |
Everyday Champions Centre |
Cash Flow Statement |
for the Year Ended 31 March 2018 |
|
31.3.18 | 31.3.17 |
Notes | £ | £ |
Cash flows from operating activities: |
Cash generated from operations | 1 | 94,708 | 99,968 |
Interest paid | (68,795 | ) | (65,824 | ) |
Net cash provided by (used in) operating activities | 25,913 | 34,144 |
Cash flows from investing activities: |
Purchase of tangible fixed assets | (1,700 | ) | (8,977 | ) |
Sale of fixed asset investments | 109,366 | - |
Interest received | 14 | 66 |
Net cash provided by (used in) investing activities | 107,680 | (8,911 | ) |
Cash flows from financing activities: |
Loan repayments in year | (116,092 | ) | (57,237 | ) |
Net cash provided by (used in) financing activities | (116,092 | ) | (57,237 | ) |
Change in cash and cash equivalents in the reporting period | 17,501 | (32,004 | ) |
Cash and cash equivalents at the beginning of the reporting period | 67,526 | 99,530 |
Cash and cash equivalents at the end of the reporting period | 85,027 | 67,526 |
Everyday Champions Centre |
Notes to the Cash Flow Statement |
for the Year Ended 31 March 2018 |
|
1. | RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES |
31.3.18 | 31.3.17 |
£ | £ |
Net income for the reporting period (as per the statement of financial activities) | 146,214 | 16,047 |
Adjustments for: |
Depreciation charges | 15,484 | 19,523 |
Gain on investments | (109,366 | ) | - |
Interest received | (14 | ) | (66 | ) |
Interest paid | 68,795 | 65,824 |
(Increase)/decrease in debtors | (8,611 | ) | 950 |
Decrease in creditors | (17,794 | ) | (2,310 | ) |
Net cash provided by (used in) operating activities | 94,708 | 99,968 |
Everyday Champions Centre |
Notes to the Financial Statements |
for the Year Ended 31 March 2018 |
|
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, 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 2015)', |
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of |
Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost |
convention with the exception of investments which are included at market value, as modified by the revaluation |
of certain assets. |
Everyday Champions Centre is a company limited by guarantee in England. In the event of the charity being |
wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the |
registered office is given in the charity information page of these financial statements. The nature of the charity's |
operations and principal activities are detailed in the trustees report. |
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. |
The following specific policies are applied to particular categories of income: |
For donations to be recognised the charity will have been notified of the amounts and the settlement date in |
writing. If there are conditions attached to the donation and this requires a level of performance before |
entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those |
conditions is within the control of the charity and it is probable that they will be fulfilled. |
Donated facilities and donated professional services are recognised in income at their fair value when their |
economic benefit is probable, it can be measured reliably and the charity has control over the item. |
Income from trading activities includes income earned from rental income, fundraising events and trading |
activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order |
to raise funds and is recognised when entitlement has occurred. |
The charity receives government grants in respect of operation requirements. Income from government and other |
grants are recognised at fair value when the charity has entitlement after any performance conditions have been |
met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not |
met then these amounts are deferred. |
Income from investments is included in the year in which it is receivable. |
No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). |
Everyday Champions Centre |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
|
1. | ACCOUNTING POLICIES - continued |
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. |
It is categorised under the following headings: |
Costs of raising funds includes the costs associated with attracting voluntary income and the costs of |
trading for fundraising purposes; |
Expenditure on charitable activities includes 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; and |
Other expenditure represents those items not falling into the categories above. |
Allocation and apportionment of costs |
Support costs are those that assist the work of the charity but do not directly represent charitable activities and |
include office costs, governance costs. They are incurred directly in support of expenditure on the objects of the |
charity. Where support costs cannot be directly attributed to particular headings they have been allocated to cost |
of raising funds and expenditure on charitable activities on a basis consistent with use of the 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 |
Fixtures, fittings & equipment |
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and |
accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of |
operating as intended. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
market value is transferred to a revaluation reserve. |
Related party exemption |
The charitable company 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 corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of |
the charity and which have not been designated for other purposes. |
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or |
which have been raised by the charity for particular purposes. The cost of raising and administering such funds |
are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the |
financial statements. |
Everyday Champions Centre |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
|
1. | ACCOUNTING POLICIES - continued |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis |
over the period of the lease. |
Pension costs and other post-retirement benefits |
The charitable company operates a defined contribution pension scheme. Contributions payable to charitable |
company's the pension scheme are charged to the Statement of Financial Activities in the period to which they |
relate. |
2. | DONATIONS AND LEGACIES |
31.3.18 | 31.3.17 |
£ | £ |
Offerings & collections |
Donations |
Gift aid |
Donations - Conference | 39,874 | 76,850 |
3. | OTHER TRADING ACTIVITIES |
31.3.18 | 31.3.17 |
£ | £ |
Use of facilities | 20,635 | 25,535 |
Sundry income | 1,163 | 17,352 |
4. | INVESTMENT INCOME |
31.3.18 | 31.3.17 |
£ | £ |
Deposit account interest |
5. | INCOME FROM CHARITABLE ACTIVITIES |
31.3.18 | 31.3.17 |
Activity | £ | £ |
Nursery fees | Charitable activities undertaken directly | 128,315 | 132,114 |
Nursery grants | Charitable activities undertaken directly | 206,368 | 137,481 |
6. | CHARITABLE ACTIVITIES COSTS |
Direct costs | Support costs | Totals |
(See note 7) | (See note 8) |
£ | £ | £ |
706,093 | 93,552 | 799,645 |
Everyday Champions Centre |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
|
7. | DIRECT COSTS OF CHARITABLE ACTIVITIES |
31.3.18 | 31.3.17 |
£ | £ |
Trustees' remuneration etc | 46,835 | 38,141 |
Staff costs | 396,001 | 355,497 |
Hire of plant and machinery | - | 3,287 |
Rent | 14,612 | 5,326 |
Telephone | 10,711 | 12,718 |
Stationery and office costs | 17,192 | 26,017 |
Advertising and marketing | 12,481 | 8,434 |
Sundries | 1,184 | 706 |
Other employment costs | 1,001 | 249 |
Insurance | 7,072 | 7,310 |
Rates and water | 3,164 | (1,032 | ) |
Light & heat | 24,846 | 24,235 |
Repairs & renewals | 10,656 | 20,741 |
Cleaning & laundry | 11,732 | 14,531 |
Motor and travel expenses | 25,208 | 25,064 |
Subscriptions | 8,167 | 7,550 |
Staff welfare & training | - | 177 |
Purchases - food | 23,389 | 29,364 |
Purchases - Nursery | 26,634 | 15,561 |
Donations - I61 | 15,464 | 9,899 |
Venue hire | 20,023 | 38,065 |
Conference fees | 3,405 | 7,150 |
Gifts and donations | 10,832 | 3,933 |
Depreciation | 15,484 | 19,523 |
706,093 | 672,446 |
8. | SUPPORT COSTS |
Finance | Information technology | Governance costs | Totals |
£ | £ | £ | £ |
72,334 | 7,574 | 13,644 | 93,552 |
Support costs, included in the above, are as follows: |
31.3.18 | 31.3.17 |
Charitable activities undertaken directly | Total activities |
£ | £ |
Bank charges | 3,539 | 1,923 |
Bad debts | - | 1,004 |
Interest payable and similar charges | 68,795 | 65,824 |
Other operating leases | 7,574 | 13,615 |
Governance costs | 13,644 | 16,369 |
93,552 | 98,735 |
Everyday Champions Centre |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
|
9. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
31.3.18 | 31.3.17 |
£ | £ |
Depreciation - owned assets |
Hire of plant and machinery | - | 3,287 |
Other operating leases | 22,186 | 18,941 |
10. | TRUSTEES' REMUNERATION AND BENEFITS |
31.3.18 | 31.3.17 |
£ | £ |
Trustees' salaries |
Gross salaries paid in the year to trustees are detailed follows: |
G Morgan £46,367. |
G Morgan also received benefits in the form of Manse expenses paid of £Nil (2017: £7,882). |
The trustee only receive remuneration and benefits in respect of services they provide undertaking the role of |
pastor, and not in respect of their services as trustees. |
The wife of the trustee G Morgan received a salary of £47,026. |
Trustees' expenses |
Charity expenses reimbursed during the year to trustees amounted to: |
G Morgan (including wife's expenses) £5,902 (2017: £5,914). |
11. | STAFF COSTS |
31.3.18 | 31.3.17 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
442,836 | 393,638 |
The average monthly number of employees during the year was as follows: |
31.3.18 | 31.3.17 |
Trustee paid as Pastor | 1 | 1 |
Support | 32 | 37 |
No employees received emoluments in excess of £60,000. |
Everyday Champions Centre |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
|
12. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted fund | Restricted funds | Total funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Other trading activities |
Investment income |
Total |
EXPENDITURE ON |
Charitable activities |
Total |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward | 985,018 | 20,859 | 1,005,877 |
TOTAL FUNDS CARRIED FORWARD | 998,211 | 23,713 | 1,021,924 |
13. | TANGIBLE FIXED ASSETS |
Freehold property | Fixtures, fittings & equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2017 |
Additions |
At 31 March 2018 |
DEPRECIATION |
At 1 April 2017 |
Charge for year |
At 31 March 2018 |
NET BOOK VALUE |
At 31 March 2018 |
At 31 March 2017 |
Everyday Champions Centre |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
|
13. | TANGIBLE FIXED ASSETS - continued |
|
14. | FIXED ASSET INVESTMENTS |
Shares in group undertakings | Unlisted investments | Totals |
£ | £ | £ |
MARKET VALUE |
At 1 April 2017 and 31 March 2018 | 1,003 |
NET BOOK VALUE |
At 31 March 2018 | 3 | 1,000 | 1,003 |
At 31 March 2017 | 3 | 1,000 | 1,003 |
There were no investment assets outside the UK. |
The company's investments at the balance sheet date in the share capital of companies include the following: |
Nature of business: Café |
% |
Class of share: | holding |
£ | £ |
Aggregate capital and reserves | ( | ) | ( | ) |
Nature of business: Conferences |
% |
Class of share: | holding |
£ | £ |
Aggregate capital and reserves |
Everyday Champions Centre |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
|
14. | FIXED ASSET INVESTMENTS - continued |
Nature of business: Catering |
% |
Class of share: | holding |
£ | £ |
Aggregate capital and reserves | ( | ) | ( | ) |
The subsidiaries are used for non-primary purpose trading activities. |
The total net profit of the subsidiaries is gifted to the charity. Corporate income is treated as donations. |
15. | INVESTMENT PROPERTY |
£ |
MARKET VALUE |
At 1 April 2017 |
Disposals | ( | ) |
At 31 March 2018 | - |
NET BOOK VALUE |
At 31 March 2018 | - |
At 31 March 2017 |
16. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Amounts owed by participating interests |
17. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Bank loans and overdrafts (see note 19) |
Trade creditors |
Other creditors |
Everyday Champions Centre |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
|
18. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Bank loans (see note 19) |
19. | LOANS |
An analysis of the maturity of loans is given below: |
31.3.18 | 31.3.17 |
£ | £ |
Amounts falling due within one year on demand: |
Bank loans |
Amounts falling between one and two years: |
Bank loans - 1-2 years |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
Amounts falling due in more than five years: |
Repayable by instalments: |
Bank loans more 5 yr by instal | 380,025 | 723,800 |
20. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.3.18 | 31.3.17 |
£ | £ |
Bank loans |
Bank loans are secured by legal charges over the freehold property of the charity and an unlimited debenture |
incorporating a fixed and floating charge. |
21. | MOVEMENT IN FUNDS |
At 1.4.17 | Net movement in funds | Transfers between funds | At 31.3.18 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 998,211 | 146,207 | 23,224 | 1,167,642 |
Restricted funds |
Deprivation grant | 23,713 | - | (23,224 | ) | 489 |
Christmas Fund | - | 7 | - | 7 |
7 | ( | ) |
TOTAL FUNDS | 146,214 | 1,168,138 |
Everyday Champions Centre |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
|
21. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming resources | Resources expended | Gains and losses | Movement in funds |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 798,491 | (761,650 | ) | 109,366 | 146,207 |
Restricted funds |
Deprivation grant | 5,956 | (5,956 | ) | - | - |
Impact Offering | 30,785 | (30,785 | ) | - | - |
Christmas Fund | 1,261 | (1,254 | ) | - | 7 |
( | ) | 7 |
TOTAL FUNDS | ( | ) | 146,214 |
Comparatives for movement in funds |
At 1.4.16 | Net movement in funds | At 31.3.17 |
£ | £ | £ |
Unrestricted Funds |
General fund | 985,018 | 13,193 | 998,211 |
Restricted Funds |
Deprivation grant | 20,859 | 2,854 | 23,713 |
TOTAL FUNDS | 1,005,877 | 16,047 | 1,021,924 |
Comparative net movement in funds, included in the above are as follows: |
Incoming resources | Resources expended | Movement in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 780,845 | (767,652 | ) | 13,193 |
Restricted funds |
Deprivation grant | 6,383 | (3,529 | ) | 2,854 |
TOTAL FUNDS | 787,228 | (771,181 | ) | 16,047 |
Everyday Champions Centre |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
|
21. | MOVEMENT IN FUNDS - continued |
Deprivation grant |
Grant from Northampton County Council to improve the outcomes of children in deprived areas. |
Impact Offering |
The Impact offering was taken towards the general development and outworking of 'the vision': |
- Employing a centre manager at the Newark site who would develop incomes and improve our management of |
compliance at the site; |
- A media & design co-ordinator to develop our online presence and resources available online, and to allow a |
refocus on developing Champions Kids provisions and resources; |
- Technical equipment to facilitate all sites across the country coming together; |
- Computer equipment to improve gatherings at our sites; |
- An additional conference to develop our leaders and links with external church organisations; |
- Developing a community café area and coaching opportunities at our Greenwich site. |
Christmas fund |
22. | RELATED PARTY DISCLOSURES |
Everyday Champions Centre has provided a loan account to MIY (More in You), a charity with common trustees |
and objectives. This loan is interest-free. At 31 March 2018 the balance owed to Everyday Champions Centre |
was £323,940 (2017: £323,609). During the year MIY (More in You) received donations from Everyday |
Champions Centre of £15,463 (2017: £9,899). |
23. | CONTROL |
The trustees control the charitable company. |