Charity registration number 1169185
Company registration number 09768079 (England and Wales)
COEXIST HOUSE LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
COEXIST HOUSE LTD
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Professor Malik Dahlan
Rt Hon Professor Sir Bernard Rix
Dr Timothy Winter
Charity number
1169185
Company number
09768079
Registered office
Coexist House
1 Inner Temple Lane
London
EC4Y 1AF
COEXIST HOUSE LTD
CONTENTS
Page
Trustees report
1 - 2
Statement of financial activities
3
Balance sheet
4
Notes to the financial statements
5 - 8
COEXIST HOUSE LTD
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 1 -

The trustees present their annual report and financial statements for the year ended 30 September 2024.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's memorandum and articles of association, the Companies Act 2006 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005.

Objectives and activities

The charity's objects are to advance education and learning in relation to the world’s major religions: promoting and facilitating education about religious traditions, their practices and beliefs and relations with each other and those of no faith. Education and learning is to be delivered through thoughtfully curated exhibitions; faith inspired music, drama and dance; lectures, debates and carefully facilitated conversations. Ultimately, Coexist House seeks to create a space in London where people of different faiths, religious beliefs and practices can learn and become respectfully familiar with all faiths, to embrace thinkers as well as those with no declared faith. Coexist House should become a symbol of unity and coexistence for all communities across all divides.

The trustees pay due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Financial review

As noted previously, the charity was unable to perform its usual activities during the year. Its income and expenditure, as shown in the SOFA, was therefore the minimum to keep the charity functioning.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity is a company limited by guarantee. company number 09768079, incorporated in England and Wales on 8 September 2015.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Professor Malik Dahlan
Rt Hon Professor Sir Bernard Rix
Dr Timothy Winter

Any Appointment of a Nominated Trustee shall be notified to the Charity by notice in writing, addressed to the Chairman and signed on behalf of the Member nominating that Trustee. The appointment of the Trustee shall take effect up receipt of the notice by the Charity. Additional Trustees shall be appointed by the unanimous approval of the Trustees on the recommendation of the Nominations Committee, provided that the number of Nominated Trustees shall always exceed the number of Additional Trustees.

 

None of the trustees has any beneficial interest in the company. Rt Hon Professor Sir Bernard Rix and Dr Timothy Winter are members of the company and guarantee to contribute £10 in the event of a winding up.

COEXIST HOUSE LTD
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -

 

The company's current policy concerning the payment of trade creditors is to:

 

Coexist House is a registered charity and company limited by guarantee. Its founding Trustees are the University of Cambridge, The City of London Corporation, Coexist Foundation, the Honourable Society of the Inner Temple and the Victoria &Albert Museum.

The trustees report was approved by the Board of Trustees.

Rt Hon Professor Sir Bernard Rix
Trustee
21 February 2025
COEXIST HOUSE LTD
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
Unrestricted
Unrestricted
funds
funds
2024
2023
Notes
£
£
Expenditure on:
Charitable activities
3
873
6,032
Total expenditure
873
6,032
Net expenditure and movement in funds
(873)
(6,032)
Reconciliation of funds:
Fund balances at 1 October 2023
10,082
16,114
Fund balances at 30 September 2024
9,209
10,082

All income and expenditure derive from continuing activities. The fund balances are unrestricted.

COEXIST HOUSE LTD
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 4 -
2024
2023
Notes
£
£
£
£
Current assets
Cash at bank and in hand
10,609
11,482
Creditors: amounts falling due within one year
8
(1,400)
(1,400)
Net current assets
9,209
10,082
Net assets excluding pension liability
9,209
10,082
The funds of the charity
Unrestricted funds
9,209
10,082
9,209
10,082

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 September 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on 21 February 2025
Rt Hon Professor Sir Bernard Rix
Trustee
Company registration number 09768079 (England and Wales)
COEXIST HOUSE LTD
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
1
Accounting policies
Charity information

Coexist House Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is Coexist House, 1 Inner Temple Lane, London, EC4Y 1AF.

1.1
Accounting convention

The financial statements have been prepared in accordance with the the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

 

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4
Incoming resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
COEXIST HOUSE LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 6 -
1.5
Resources expended

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

2
Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

COEXIST HOUSE LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 7 -
3
Expenditure on charitable activities
Heading #ac982
Heading #ac982
2024
2023
£
£
Direct costs
Share of support and governance costs (see note 4)
Governance
873
6,032
Analysis by fund
Unrestricted funds
873
6,032
4
Support costs
Support costs
Governance costs
2024
Support costs
Governance costs
2023
£
£
£
£
£
£
Accountancy
-
868
868
-
972
972
Consultancy
-
-
-
-
5,000
5,000

Bank charges

-
5
5
-
60
60
-
873
873
-
6,032
6,032
Analysed between
Charitable activities
-
873
873
-
6,032
6,032

 

5
Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year.

6
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
Total
-
0
-
0
7
Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

COEXIST HOUSE LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 8 -
8
Creditors: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
1,400
1,400
9
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 October 2023
Resources expended
At 30 September 2024
£
£
£
General funds
10,082
(873)
9,209
Previous year:
At 1 October 2022
Resources expended
At 30 September 2023
£
£
£
General funds
16,114
(6,032)
10,082
10
Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

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