REGISTERED COMPANY NUMBER:
|
REGISTERED CHARITY NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trustees' Report and |
Financial Statements for the Year Ended 31 December 2018 |
for |
Capstone Church |
REGISTERED COMPANY NUMBER:
|
REGISTERED CHARITY NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trustees' Report and |
Financial Statements for the Year Ended 31 December 2018 |
for |
Capstone Church |
Capstone Church |
Contents of the Financial Statements |
for the Year Ended 31 December 2018 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Trustees' Report | 1 to 5 |
|
Independent Examiner's Report | 6 |
|
Statement of Financial Activities | 7 |
|
Balance Sheet | 8 to 9 |
|
Notes to the Financial Statements | 10 to 15 |
|
Capstone Church |
Trustees' Report |
for the Year Ended 31 December 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 December 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 |
The objectives of the Charity as set out in the governing document are: |
|
- to advance the Christian faith and |
- to relieve sickness and financial hardship and to promote and preserve good health by the provision of funds, goods or |
services of any kind, including through the provision of counselling and support in such parts of the United Kingdom or the world |
as the Trustees from time to time may think fit. |
|
In setting the objectives and planning the activity of the Charity, the Trustees have given careful consideration to the Charity |
Commission's general guidance on public benefit. |
|
Significant activities |
For the period from January 2018 to December 2018, the charity had the following objectives and undertook the following |
activities: |
|
Objectives |
|
- to give people opportunities to practice the Christian faith. |
|
|
Activities |
|
Sunday Service (Ilford and Southall) |
Kids Church |
Fasting and Prayer |
Wednesday Worship Practice |
Prayer Room |
Youth Meetings (DNA) |
Easter Weekend |
Father's Feast |
Bethesda Healing Wells |
School of Prophets |
Core Program (Creating Our Roots in Eternity) |
Baptism Service |
London Awakening |
Special Sunday Services with Guest Ministers |
Catch the Glory (Annual Prayer Conference) |
Maximum Annual Conference 2018 |
School of Worship |
Christian Business Forum |
Kid's Half Term Workshop |
Night of Worship |
Family Fun Day |
Missions |
Women of Frontlines Conference |
M25 Prayer Drive |
Capstone Boys Home |
Supporting Other ministries |
Christmas Party |
Christmas Service |
New Year's Eve Service |
|
Capstone Church |
Trustees' Report |
for the Year Ended 31 December 2018 |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
Sunday Service |
The Church has its regular services every Sunday. This is free for all to attend. This service begins with a time of worship by the |
vibrant church worship band and preaching by one of the church leaders on the Christian faith, followed by a time of prayer. Free |
snacks are served after each service. We have one service on Sunday at 2 locations. One in Ilford and at Southall from 10 AM |
until 12 Noon. |
|
Kids Church |
During the time of the sermon on a regular 10.00 am Sunday Service, children aged 12 years and under attend Kids Church, where |
they get involved in activities and games and are taught from a bible-based curriculum. |
|
21 Days of Fasting and Prayer |
Members of Capstone Church fast and pray for 21 days during which time meetings are held every day; to |
praise, worship and for teaching of God's word. |
|
Wednesday Worship Practice |
The Church Worship Band meets on Wednesday evenings to practice and rehearse ahead of the Sunday Service. |
|
Prayer Room |
We have a 4 hour a week Prayer Room. Each Prayer Room session lasts for two hours during which there is continuous worship |
led by a worship leader and team, and prayer lead by a session leader. It is free for all to attend. |
|
Youth Meetings (DNA) |
Following the main Sunday Service at 10.00am, there is a Youth Meeting (the Church Youth Ministry is called DNA) at 1pm for |
youth between the ages of 12 25. This is a time of vibrant worship, prayer and teaching from the Bible. |
|
Easter Weekend |
We held a night meeting on Good Friday, 30th March 2018. The meetings were free for all to attend and comprised of worship, |
preaching the Gospel and offer of prayer. There was a special Celebration service on Easter Sunday, 01st April 2018. Community |
members were also invited to attend any of our meetings. On Saturday, 31st March 2018, a team from the church also went on |
to the streets of the neighbourhood reaching out to the community with offer of prayer and inviting them for our services. |
|
Father's Feast |
The Fathers Feast is an outreach program. Every Monday of the week, a team from the Church cook dinner in the Church kitchen |
and serves it for the homeless of Ilford. The meal usually consists of a main course, dessert and hot/cold drinks and is served as a |
buffet. Members of our team also sit with the homeless and provide one on one support such as counsel and prayer. In running |
this program, we also work with local organisations that support the homeless in the area. This program is in line with the main |
vision of the Charity to provide community service in the form of relieving sickness and financial hardship amongst other things. |
The Church aims to see a total eradication of homelessness in the Ilford area by the year 2020. |
|
Bethesda Healing Wells |
Headed by two of the leaders in the Church Bethesda Healing Wells is a ministry team that trains and equips those who want to |
be a part of the team, to pray for people who are emotionally, mentally and physical sick and need healing in their bodies. |
Teaching sessions are given once a month. Bethesda Healing Wells team provides prayer on the streets with the general public as |
well as in the Church for those in need, mainly in events such as Pursuit. |
|
School of Prophets |
School of the Prophets is headed by two of the leaders in the church where those who want to be part of the school are |
equipped and trained in the area of the prophetic in the Christian faith. Sessions are held once every month where those who |
signed up must attend. Members of the school go out on the streets and provide encouragement to the general public through |
prophetic words; as well as praying and giving prophetic words in the Church for those who require it, mainly in events such as |
Pursuit. |
|
Core Program (Creating Our Roots in Eternity) |
A 12 week course aimed to build a firm foundation on Christian principles, to equip and strengthen people, particularly new |
believers and those wanting to be planted in Capstone Church, in the Christian faith. At the end of the course there is an |
encounter day where attendees can choose to have their official Baptism. |
|
Baptism Service |
A Baptism service was held in September 2018. Baptism is fundamental to the Christian faith, where those who choose to take |
part confirm and confess their faith through the act of Baptism. During the baptism, they are fully immersed into water and |
brought up, this a symbolic act of starting a new life in the faith. Family and friends were invited to attend the service. |
|
Capstone Church |
Trustees' Report |
for the Year Ended 31 December 2018 |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
|
|
London Awakening Anniversary |
To celebrate the One Year anniversary of the London Awakening (where the church had protracted meetings for over 7 months |
seeing numerous healings and changed lives), from 27 June to 30 June, Capstone Church hosted 3 night meetings with guest |
ministers, Jerame Nelson from Elisha Revolution, San Diego and Prophet Stacey Campbell, from Canada. These nightly services |
would start with a time of worship, followed by a sermon with an offer of prayer at the end. |
|
London Awakening Southall |
From 14th -16th March, Capstone Church hosted nightly meetings with guest minister Apostle Che Ahn of HIM Ministries in |
Southall. These nightly services would start with a time of worship, followed by a sermon with an offer of prayer at the end. The |
meetings were open for all to attend. |
|
Special Sunday Services |
On February 11th during the 10:00am service Worship Leader, Rick Pino joined us. |
|
On February 18th during the 10:00am service Reverend Betty King from Betty King International joined us. |
|
On March 4th, Patricia King from XP Ministries joined us for the 10am service. |
|
On April 8th, Charles Stock from Life Centre joined us for the 10am service. |
|
On April 22nd during the 10:00am service Georgian Banov from Global Celebrations joined us. |
|
On May 20th, Prophet Arlene Westerhof from Amsterdam joined us for the 10am service. |
|
On July 1st, Robert Hotchkin from XP Ministries joined us for the 10am service. |
|
On October 21st, Matt Sorger joined us for the 10am service. |
|
|
Catch the Glory 2018 (Annual Prayer Conference 2018) |
We hold a three-day prayer conference every year at the end of 21 Days of prayer and fasting. From Thursday February 1st 2018 |
until Saturday. He ministered to our congregation members and people from around the UK that travelled in for the conference. |
The purpose of this conference was to equip and stir up a passion for Christians to pray. |
|
Maximum Annual Conference 2018 |
We held a three day Leadership Conference from 18 to 20 October 2018, from 10:00 am 10.00pm. The event entitled |
"Maximum" is our annual leadership conference. It included visiting Guest Ministers: Georgian and Winnie Banov, from Global |
Celebration (USA), Matt Sorger (USA) and Jerame Nelson (USA). The purpose of this event was to train, motivate and equip |
Christians for service. |
|
School of Worship/Worship Night |
On 10th February 2018, we held a full day School of Worship where attendees were instructed on various facets of Christian |
worship. There was also a Q&A panel with the Church's worship leaders. The event ended with a night of worship which was free |
for all to attend. Worship Leader, Rick Pino from USA joined us for the School of Worship. |
|
On 13th September, Jake Hamilton from USA joined us for a night of worship which was free for all to attend. |
|
Christian Business Forum |
In June 2018, we started a Christian Business Forum in the form of a breakfast meeting held a local hotel. It started as a Men's |
forum and towards the year end it was opened to Men and Women. The forum is held one Saturday a month, from 7.30am - |
9.30am. The purpose of the forum is to empower, equip, inspire individuals to step in to make impact through influencing change |
within the community they serve, the people they touch, the industry they are involved in, while bringing transformation to the |
land they live in. It is aimed at those running businesses or working in the marketplace. |
|
Kids Half Term Workshop |
On 01st and 2nd June, a workshop for children between the ages of 4 years and 11 years was held. It included arts and crafts, |
games, treasure hunts and other things. It was opened to the community. |
|
|
Family Fun Day |
Capstone Church |
Trustees' Report |
for the Year Ended 31 December 2018 |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
On 17 November and 22 December, we held a family fun day in Southall. Members of the public were invited to come in for |
some games and activities, food and entertainment. Members of the church was also at hand to speak to people and offer prayer |
where required. The purpose was to reach out to the community. |
|
Women on the Frontlines |
On 2nd and 3rd March, we held a 2-day conference with guest ministers Patricia King and Brandi Belt. This conference was |
specifically for women, and the purpose was to provide mentoring input for those interested in getting equipped, empowered |
and mobilized in which ever sphere they are in. |
|
M25 Prayer Drive |
During the course of the year, some members of the church undertook a prayer drive around the M25 on 7 occasions. The |
purpose of this drive, was to pray over the city of London (as the M25 is a ring road around the city). |
|
Missions |
During the week of 23rd April - 29th April, Pastor Preethy along with certain other leaders from the church went on mission to |
Switzerland, Denmark and Faroe Islands. In Switzerland, we visited the United Nations and were able to meet with ambassadors |
of various countries and understand issues with these countries and pray with them. In the other countries, meetings were held |
in churches there, where we had the opportunity to preach on the Christian faith, followed by a time of prayer. |
|
Capstone Boys home |
Capstone Church has taken a commitment to support 10 orphan boys for a period of 5 years in the Indian city of Hyderabad. The |
boys are aged between 6 and 11 years. In doing so, we have partnered with a charity in Hyderabad called Asha Jyothi which |
works with orphans and children of single parents amongst other things. The boys are provided with accommodation, food, |
clothing and an education. The home where the boys are housed is called Capstone Boys Home. |
|
Supported other Christian ministries |
This year we have extended support to Global Celebration, Elisha Revolution, John Foundation, Philo Trust, Burning and Shining |
Lamp Ministries; HIM Ministries; Clear River Network; Destiny Encounters International, IHOP KC, XP Ministries, Indian |
Evangelical Team and various houses of prayer and churches across the UK, prayer missionaries, and various local mission |
|
Christmas Party |
Our Christmas party for the year 2018 was held on 14th December. All congregation members were invited to come out for a |
dinner at the Halfway House in Brentwood. It turned out to be a great time of fun, games, food and laughs. |
|
Christmas Service |
Our Christmas Service was held on 23 December 2018 at 10am and comprised of carols by the church choir, worship, drama, |
preaching the gospel, offer of prayer and fellowship. It was free for all to attend. |
|
New Year's Eve Service |
Our New Year's Eve Service was an extraordinary night of worship, dances, acts and followed by the Word of God. The service |
began with dinner. |
|
Capstone Church |
Trustees' Report |
for the Year Ended 31 December 2018 |
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. |
|
Capstone Church is a company limited by guarantee, incorporated on 9 April 2009, governed by its Memorandum and Articles of |
Association. It registered as a charity with the Charity Commission for England & Wales on 8 May 2009. |
|
New Trustees are appointed by the members. The Trustees may appoint a person who is willing to act to be a Trustee, either to |
fill a vacancy or as an additional Trustee. |
|
New Trustees are briefed on their legal obligation under charity and company law, the content of the Memorandum and Articles |
of Association, the committee and decision making processes, the business plan and recent financial performance of the Charity. |
|
The Trustees are responsible for the management of the risks faced by the Charity. All significant activities undertaken are |
subject to risk review as part of the initial project assessment and implementation. The Trustees review the major risks that the |
Charity faces on a regular basis and controls are established accordingly. |
|
The Trustees are aware of the major risks to which the Charity is exposed, in particular those related to the projects and finances |
of the organisation, and are satisfied that systems are in place to mitigate exposure to the major risks. |
|
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
|
|
Registered Charity number |
|
|
Registered office |
|
|
|
|
|
Trustees |
|
|
|
|
Independent examiner |
Nordens |
|
406 Roding Lane South |
Woodford Green |
Essex |
IG8 8EY |
|
Approved by order of the board of
trustees
on
|
|
|
|
|
Independent Examiner's Report to the Trustees of |
Capstone Church |
Independent examiner's report to the trustees of Capstone Church ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 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 FCCA 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 |
|
|
|
|
|
|
|
Lorraine Curtis |
FCCA |
Nordens |
The Retreat |
406 Roding Lane South |
Woodford Green |
Essex |
IG8 8EY |
|
|
Date: ............................................. |
Capstone Church |
Statement of Financial Activities |
for the Year Ended 31 December 2018 |
31.12.18 | 31.12.17 |
|
Unrestricted
fund |
Total
funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
|
|
Charitable activities |
|
|
|
Investment income | 2 |
|
|
Total |
|
|
|
EXPENDITURE ON |
Charitable activities |
|
|
|
NET INCOME/(EXPENDITURE) |
( |
) |
|
RECONCILIATION OF FUNDS |
|
Total funds brought forward |
|
|
TOTAL FUNDS CARRIED FORWARD |
|
537,403 |
Capstone Church (Registered number: 06874952) |
Balance Sheet |
At 31 December 2018 |
31.12.18 | 31.12.17 |
|
Unrestricted
fund |
Total
funds |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 6 |
|
|
|
CURRENT ASSETS |
Debtors | 7 |
|
|
Cash at bank and in hand |
|
|
|
|
|
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 | 484,576 | 537,403 |
TOTAL FUNDS |
|
537,403 |
Capstone Church (Registered number: 06874952) |
Balance Sheet - continued |
At 31 December 2018 |
The charitable company is entitled to exemption from audit under |
Section 477 of the Companies Act 2006 for the year ended 31 December 2018. |
|
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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
|
|
|
|
|
|
|
|
|
|
|
Capstone Church |
Notes to the Financial Statements |
for the Year Ended 31 December 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. |
|
Changes in accounting estimates |
The company changed its depreciation policy estimate for Fixtures and Fittings during the year from 20% per annum |
straight line basis to 15% per annum reducing balance basis along with Office Equipment from 20% per annum straight |
line basis to 25% per annum reducing balance basis. |
|
Income |
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received |
and the amount of income receivable can be measured reliably. |
|
Donations are recognised as income when received, except in circumstances where the donor specifies the time period |
that the donation relates to, in which case they are recognised as income in that period. |
|
Donations received with imposed restrictions are classified as restricted funds. |
|
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the |
charitable company which is the amount the Charity would have been willing to pay to obtain services or facilities of |
equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the |
period of receipt. |
|
Event income consists of registration and other fees for charitable events. |
|
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of |
the donation. |
|
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. |
|
Charitable activity costs are incurred on the Charity's religious operations, and include support costs and costs relating to |
the governance of the Charity apportioned to the charitable events. |
|
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. |
|
Fixtures and fittings |
|
Computer equipment |
|
|
Taxation |
The charity is exempt from corporation 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. |
|
Capstone Church |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
1. | ACCOUNTING POLICIES - continued |
|
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. |
|
Pension costs and other post-retirement benefits |
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable |
company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. |
|
Going concern |
The Charity is in the main reliance upon donations to raise revenue to meet future expenditure. The trustees consider |
that it is appropriate to prepare the financial statements on the going concern basis. This assumes that the charitable |
company will be successful in its fundraising activities. These financial statements do not include any adjustments that |
would result if insufficient funds are raised. |
|
2. | INVESTMENT INCOME |
|
31.12.18 | 31.12.17 |
£ | £ |
Deposit account interest |
|
|
|
3. | NET INCOME/(EXPENDITURE) |
|
Net income/(expenditure) is stated after charging/(crediting): |
|
31.12.18 | 31.12.17 |
£ | £ |
Depreciation - owned assets |
|
|
|
4. | TRUSTEES' REMUNERATION AND BENEFITS |
|
There were no trustees' remuneration or other benefits for the year ended 31 December 2018 nor for the year ended |
31 December 2017 . |
|
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 December 2018 nor for the year ended 31 December 2017 . |
|
Capstone Church |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
5. | STAFF COSTS |
|
31.12.18 | 31.12.17 |
£ | £ |
Wages and salaries |
|
|
Social security costs |
|
|
Other pension costs |
|
|
141,447 | 114,885 |
|
Key management personnel includes those persons having authority and responsibility for planning, directing and |
controlling the activities of the entity, directly or indirectly, including Trustees. |
|
One trustee (2017: one), who is also considered to be the Charity's key management personnel, received total |
remuneration, including employer national insurance contributions, of £50,057 (2017: £45,646) during the year, as |
agreed with the Charity Commission. |
|
During the year, Preethy Kurian a trustee of the charity, was reimbursed £Nil (2017: £110) in relation to travel expenses. |
|
The average monthly number of employees during the year was as follows: |
|
31.12.18 | 31.12.17 |
Direct charitable activity staff | 3 | 3 |
Administrative staff | 1 | 1 |
|
|
|
No employees received emoluments in excess of £60,000. |
|
6. | TANGIBLE FIXED ASSETS |
|
Freehold
property |
Fixtures and
fittings |
Computer
equipment |
Totals |
£ | £ | £ | £ |
COST |
At 1 January 2018 |
|
|
|
|
Additions |
|
|
|
|
At 31 December 2018 |
|
|
|
|
DEPRECIATION |
At 1 January 2018 |
|
|
|
|
Charge for year |
|
|
|
|
At 31 December 2018 |
|
|
|
|
NET BOOK VALUE |
At 31 December 2018 |
|
|
|
|
At 31 December 2017 |
|
|
|
|
Included in freehold property is land at an estimated cost of £575,000 which is not depreciated. |
|
Capstone Church |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
31.12.18 | 31.12.17 |
£ | £ |
Other debtors |
|
|
Gift Aid recoverable | 22,167 | 22,167 |
Prepayments |
|
|
|
|
|
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
31.12.18 | 31.12.17 |
£ | £ |
Bank loans and overdrafts (see note 10) |
|
|
Social security and other taxes |
|
|
Other creditors |
|
|
Accrued expenses |
|
|
|
|
|
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
|
31.12.18 | 31.12.17 |
£ | £ |
Bank loans (see note 10) |
|
|
|
Bank loans are secured by way of a fixed and floating charge over the assets of the charity and are repayable by monthly |
instalments over a period of 20 years. The interest rate per annum is equal to the aggregate of the margin rate (3.5%) |
and the base rate which during the period was 0.5% (2017 - 0.5%) |
|
Personal guarantees have been provided in respect of the bank loan by the Trustees and certain close family members of |
the Trustees. |
|
10. | LOANS |
|
An analysis of the maturity of loans is given below: |
|
31.12.18 | 31.12.17 |
£ | £ |
Amounts falling due within one year on demand: |
Bank loans |
|
|
|
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 | 448,352 | 466,174 |
|
Capstone Church |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
11. | MOVEMENT IN FUNDS |
|
|
At 1.1.18 |
Net movement
in funds |
At 31.12.18 |
£ | £ | £ |
Unrestricted funds |
General fund | 537,403 | (52,827 | ) | 484,576 |
|
TOTAL FUNDS |
|
(52,827 | ) | 484,576 |
|
Net movement in funds, included in the above are as follows: |
|
Incoming
resources |
Resources
expended |
Movement in
funds |
£ | £ | £ |
Unrestricted funds |
General fund | 410,174 | (463,001 | ) | (52,827 | ) |
|
TOTAL FUNDS |
|
( |
) | (52,827 | ) |
|
|
Comparatives for movement in funds |
|
At 1.1.17 |
Net movement
in funds |
At 31.12.17 |
£ | £ | £ |
|
Unrestricted Funds |
General fund | 411,559 | 125,844 | 537,403 |
|
TOTAL FUNDS | 411,559 | 125,844 | 537,403 |
Comparative net movement in funds, included in the above are as follows: |
|
Incoming
resources |
Resources
expended |
Movement in
funds |
£ | £ | £ |
Unrestricted funds |
General fund | 591,396 | (465,552 | ) | 125,844 |
|
TOTAL FUNDS | 591,396 | (465,552 | ) | 125,844 |
|
A current year 12 months and prior year 12 months combined position is as follows: |
|
|
At 1.1.17 |
Net movement
in funds |
At 31.12.18 |
£ | £ | £ |
Unrestricted funds |
General fund | 411,559 | 73,017 | 484,576 |
TOTAL FUNDS | 411,559 | 73,017 | 484,576 |
|
Capstone Church |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
11. | MOVEMENT IN FUNDS - continued |
|
|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
|
Incoming
resources |
Resources
expended |
Movement in
funds |
£ | £ | £ |
Unrestricted funds |
General fund | 1,001,570 | (928,553 | ) | 73,017 |
TOTAL FUNDS | 1,001,570 | (928,553 | ) | 73,017 |
12. | RELATED PARTY DISCLOSURES |
|
During the year unrestricted donations totalling £55,477 (2017: £73,749) were donated by trustees and related parties. |
|