CHRISTIAN SCIENCE SOCIETY, SEVENOAKS
Registered Charity No.: 1037106
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
MYRUS SMITH
Chartered Accountants
Norman House, 8 Burnell Road, Sutton, Surrey. SM1 4BW
CHRISTIAN SCIENCE SOCIETY, SEVENOAKS
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2021
TRUSTEES
The Trustees are pleased to present their report, together with the Financial Statements of the Charity for the year ended 31 December 2021.
The charity is a Registered Charity No. 1037106 and its principal address is Caxton House (Ground Floor), 22 St John’s Hill, Sevenoaks, Kent, TN13 3NP.
The charity’s principal advisers during the year were:-
SOLICITORS
Knocker & Foskett, The Red House, 50 High Street, Sevenoaks, Kent TN13 1JL
BANKERS
CAF Bank Ltd, 25 Kings Hill Avenue, West Mailing, Kent ME19 4JQ
INDEPENDENT EXAMINER
Mr S. Jones Myrus Smith, Chartered Accountants, Norman House, 8 Burnell Road, Sutton, Surrey SM1 4BW
INVESTMENT MANAGERS
Investec Wealth and Investment Limited 2 Gresham Street, London EC2V 7QP
REFERENCE AND ADMINISTRATIVE DETAILS
The Charity Trustees (The Board) who acted in that capacity during the year were: -
Mrs. B. Harris Mr. A. Harris Mr. M. Morgan Mrs. N. Morgan (Chairman) President: - Mr. B. Morgan
The Custodial Trustees who acted in that capacity during the year were: -
Mr. T. Harris Mrs. A. Miller Mr. R. Mendis (Treasurer)
1
CHRISTIAN SCIENCE SOCIETY, SEVENOAKS
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2021
CONTINUED
The name of the charity is Christian Science Society, Sevenoaks.
Christian Science Society, Sevenoaks is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
The Trustees have given consideration to the question of the church’s charitable status, with special regard to the benefit to the community beyond its own membership and have had regard to the Charity Commission’s guidance on public benefit.
ELECTION OF TRUSTEES/APPOINTMENTOTHER OFFICERS
Election of Trustees and Church Officers for 2021 took place at an Elections Meeting in December 2020. Four trustees (Board members), a President, a rota of Readers, a Treasurer, a Librarian, and a Sunday School Superintendent were elected and appointed in accordance with Article 1, Sections 1-9 of the Society’s Bylaws. (The office of Clerk has not been filled for a number of years now and the clerk’s duties continue to be shared out with willing members of the Society.)
Custodian Trustees remain in office until a trustee resigns or dies.
ORGANISATION
The organisation of the church is outlined in the Constitution and By-laws. The Trustee Board oversees the church activities with the knowledge and approval of the members. The members are empowered to elect up to four Custodial Trustees who hold the property of the church in trust. These Custodial Trustees act on the instructions of the Trustees, who, in turn, act at the direction of the members.
RISK MANAGEMENT
The Trustees review annually the major risks to which the charity is exposed and ensure that appropriate controls are in place to provide reasonable assurance against fraud and error.
OBJECTIVES AND ACTIVITIES
The object of this church is to promote to the public the religion Christian Science based on the Bible and Science and Health with Key to the Scriptures by Mary Baker Eddy, the Discoverer and Founder of Christian Science, whose purpose is to “reinstate primitive Christianity and its lost element of healing” as a demonstrable science.
During the year, the Society continued to hold weekly Sunday Church Services and a monthly Testimony Meeting on the fourth Wednesday of each month on Zoom until Government Covid lockdown measures were eased and Sunday church services in the auditorium at Caxton House were resumed in April. To accommodate our new “remote” congregation who joined us on Zoom during lockdown, the members decided to live-stream the Sunday church services. The members decided to continue holding the Testimony Meetings on Zoom only. The Society also continued to provide a Sunday School for children and teenagers with the option, from April, of Zoom Sunday School classes as well. The offer of creche provision was also reintroduced. These Church Services, Testimony Meetings, and Sunday School classes are open to all members of the public.
ACHIEVEMENTS AND PERFORMANCE
The above services and Testimony Meetings are advertised in the Christian Science Journal, the official organ of The First Church of Christ, Scientist in Boston, Massachusetts of which the Sevenoaks Christian Science Society is a branch, on the Society’s website cs7oaks.org , and in the local monthly Advertiser.
2
CHRISTIAN SCIENCE SOCIETY, SEVENOAKS
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
CONTINUED
FINANCIAL REVIEW
INVESTMENT POLICY
The trustees’ overall objectives are still to create sufficient income and capital growth rebuilding the value of the portfolio to enable the charity to carry out its purposes consistently year by year with due and proper consideration for future needs and the maintenance of, and if possible, enhancement of the value of invested funds while they are retained, by obtaining a balanced return between income and capital with low to medium risk through discretionary management. There are no unquoted securities.
The trustees reserve the right to exclude companies that carry out activities contrary to their aims or from holding particular investments in breweries, distilleries, tobacco companies, drug companies, and the gambling industry.
Trustees expect the fund manager to have considered the suitability of investments of the same kind as any particular proposed to be made or retained.
The objectives are to be achieved by investing prudently in a broad range of fixed interest securities and equities which are quoted on a Recognised Investment Exchange and unit trusts and OEICs (open ended investment companies) which are authorised under the Financial Services and Markets Act 2000.
RESERVES POLICY
At the beginning of 2021 the Society held investments valued at £219,938. The policy of the Society has been, and remains, to invest any surplus income derived by office rents. The Reserves Policy for 2021 is deemed to be adequate now that in addition we receive annual rental income in the region of £30,000.
At the end of 2021 the charity’s reserves inclusive of the value of the property amounted to £1,724,688 of which £622 was represented by restricted funds.
DIVIDENDS AND INTEREST
Dividends and interest are re-invested.
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CHRISTIAN SCIENCE SOCIETY, SEVENOAKS
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
CONTINUED
TRUSTEES RESPONSIBILITIES STATEMENT
The trustees are responsible for preparing the Report of the Trustees and the financial statement in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that year. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP 2019 (FRS102);
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
For and on behalf of the Trustees
……………………….. Mrs N Morgan TRUSTEE
22 St John’s Hill Sevenoaks, Kent, TN13 3NP
September 2022
4
Independent Examiner’s Report to the Trustees of:
CHRISTIAN SCIENCE SOCIETY, SEVENOAKS
FOR THE YEAR ENDED 31 DECEMBER 2021
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2021 which are set out on pages 6 to 13.
Responsibilities and basis of report
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
S.A. Jones FCA ℅ Myrus Smith Chartered Accountants Norman House 8 Burnell Road Sutton, Surrey SM1 4BW
September 2022
5
CHRISTIAN SCIENCE SOCIETY, SEVENOAKS
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2021
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| Notes | Funds | Funds | 2021 | 2020 | |
| Income from: | £ | £ | £ | £ | |
| Donations and legacies | 2a | 48,051 | - | 48,051 | 8,452 |
| Charitable activities | 2b | 459 | - | 459 | 451 |
| Investments | 2c | 4,204 | - | 4,204 | 3,616 |
| Other trading activities | 2d | 24,000 | - | 24,000 | 30,000 |
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| Total income | 76,714 | - | 76,714 | 42,519 | |
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| Expenditure on: | |||||
| Raising funds | |||||
| Investment management fees | 2,369 | - | 2,369 | 1,858 | |
| Charitable activities | 3 | 47,326 | - | 47,326 | 38,459 |
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| Total expenditure | 49,695 | - | 49,695 | 40,317 | |
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| Net income/(expenditure) before | |||||
| investment gain | 27,019 | - | 27,019 | 2,202 | |
| Unrealised gains on property | |||||
| revaluation | 9 | 60,800 | - | 60,800 | - |
| Net gains/(losses) on investments | 9 | 16,477 | - | 16,477 | 11,198 |
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| Net income/(expenditure) | 11 | 104,296 | - | 104,296 | 13,400 |
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| Transfer between funds | - | - | - | - | |
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| Net movement in funds | 104,296 | - | 104,296 | 13,400 | |
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| Reconciliation of funds | |||||
| Fund balances brought forward | 1,619,770 | 622 | 1,620,392 | 1,606,992 | |
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| Fund balances carried forward | 12 | £1,724,066 | £622 | £1,724,688 | £1,620,392 |
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The Statement of Financial Activities includes all gains and losses recognised in the year.
All income and expenditure derives from continuing activities.
The notes on pages 8 to 13 form part of these financial statements.
6
CHRISTIAN SCIENCE SOCIETY, SEVENOAKS
BALANCE SHEET AT 31 DECEMBER 2021
| Notes | 2021 | 2020 | |||||
|---|---|---|---|---|---|---|---|
| £ | £ | £ | £ | ||||
| FIXED ASSETS | |||||||
| Tangible fixed assets | 7 | 1,417,597 | 1,356,555 | ||||
| CURRENT ASSETS | |||||||
| Other debtors | 8 | 811 | 807 | ||||
| Investments | 9 | 268,250 | 219,938 | ||||
| Cash at bank and in hand | 40,406 | 45,444 | |||||
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| 309,467 | 266,189 | ||||||
| CREDITORS | |||||||
| Amounts falling due within | |||||||
| one year | 10 | 2,376 | 2,352 | ||||
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| NET CURRENT ASSETS | 307,091 | 263,837 | |||||
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| NET ASSETS | £1,724,688 | £1,620,392 | |||||
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| FUNDS | |||||||
| Unrestricted funds: | |||||||
| General | 12 | 324,066 | 263,770 | ||||
| Designated funds | 12 | 1,400,000 | 1,356,000 | ||||
| Restricted funds | 12 | 622 | 622 | ||||
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| £1,724,688 | £1,620,392 | ||||||
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Approved by the Board of Trustees on September 2022 and signed on its behalf by:
Mrs N Morgan TRUSTEE
The notes on pages 8 to 13 form part of these Financial Statements
7
CHRISTIAN SCIENCE SOCIETY, SEVENOAKS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
1. ACCOUNTING POLICIES
a) Basis of accounting
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The financial statements are prepared on a going concern basis under the historical cost convention modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
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b) Income recognition
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Items of income are recognised and included in the accounts when all of the following criteria are met:
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The charity has entitlement to the funds;
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any performance conditions attached to the item(s) of income have been met or are fully within the control of the charity.
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there is sufficient certainty that receipt of the income is considered probable; and
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the amount can be measured reliably.
c) Expenditure recognition Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
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Costs of raising funds comprise the costs associated with the management of the Charity’s investments (all such costs relate to unrestricted funds).
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Expenditure on charitable activities includes the costs undertaken to further the purposes of the Charity and their associated support costs.
d) Fund Accounting
Unrestricted general funds are freely available for use in furtherance of the objects of the charity and which have not been designated for particular purposes.
Designated funds are unrestricted funds set aside by the trustees for particular purposes.
Restricted funds are funds which can only be used in accordance with specific restrictions imposed by the donor, or which have been raised for a particular purpose.
e) Allocation of support costs Support costs are those functions that assist the work of the Charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the Charity’s activities.
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f) Tangible fixed assets
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Tangible fixed assets costing more than £500 are capitalised at cost.
Depreciation is calculated to write off the cost of all tangible fixed assets, other than freehold land, which is not depreciated, at the following rates:
Buildings 50 years straight line Computer equipment 4 years straight line
The trustees estimate that approximately 60% of the cost of the property relates to land.
8
CHRISTIAN SCIENCE SOCIETY, SEVENOAKS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021 CONTINUED
1. ACCOUNTING POLICIES (Cont’d)
g) Investment assets
Investments are initially recognised at their transaction value and subsequently measured at fair value at the Balance Sheet date using the closing quoted market price. The Statement of Financial Activities includes the net gains and losses on revaluations and disposals throughout the year.
h) Taxation
As the Church is a registered Charity the results of its normal activities are not liable for tax.
i) Debtors and Creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairments are recognised in expenditure.
| 2. | INCOME | Unrestricted | Restricted | Total | Total |
|---|---|---|---|---|---|
| Funds | Funds | 2021 | 2020 | ||
| a) Donations and legacies: | |||||
| Donations | £48,051 | £Nil | £48,051 | £8,452 | |
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| All of the £8,452 recognised in 2020 related to unrestricted funds. | |||||
| b) Charitable activities: | |||||
| Gift Aid | - | - | - | - | |
| Books and literature | 459 | - | 459 | 451 | |
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| £459 | £Nil | £459 | £451 | ||
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| All of the £451 recognised in 2020 related to unrestricted funds. | |||||
| c) Investment income: | |||||
| Dividends | £4,204 | £Nil | £4,204 | £3,616 | |
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| All of the £3,616 recognised in 2020 related to unrestricted funds. | |||||
| d) Other trading activities: | |||||
| Rental income | £24,000 | £Nil | £24,000 | £30,000 | |
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All of the £30,000 recognised in 2020 related to unrestricted funds.
9
C HRISTIAN SCIENCE SOCIETY, SEVENOAKS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021 CONTINUED
| 3. | ANALYSIS OF EXPENDITURE | Activities | Grant | |||
|---|---|---|---|---|---|---|
| ON CHARITABLE | undertaken | funding of | Support | Total | Total | |
| ACTIVITIES | directly | activities | costs | 2021 | 2020 | |
| £ | £ | £ | £ | £ | ||
| Organist and Soloist fees | 6,950 | - | - | 6,950 | 6,283 | |
| Literature | 2,177 | - | - | 2,177 | 788 | |
| Sundries | - | - | 2,544 | 2,544 | 1,368 | |
| Donations (see note 5) | - | 1,200 | - | 1,200 | 1,800 | |
| Legal and professional fees | - | - | 3,920 | 3,920 | 4,860 | |
| Depreciation | - | - | 22,851 | 22,851 | 17,077 | |
| Insurance | - | - | 954 | 954 | 917 | |
| Light, heat and water | - | - | 4,617 | 4,617 | 4,870 | |
| Bank charges | - | - | 102 | 102 | 72 | |
| Services and repairs | - | - | 2,102 | 2,102 | 735 | |
| Service charge (surplus)/deficit | - | - | (1,303) | (1,303) | (3,087) | |
| Lecture costs | - | - | - | - | 1,600 | |
| Governance costs: | ||||||
| Independent examiner’s fee | - | - | 1,212 | 1,212 | 1,176 | |
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| £9,127 | £1,200 | £36,999 | £47,326 | £38,459 | ||
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All of the £38,459 expenditure in 2020 was charged to unrestricted funds.
| 4. | ANALYSIS OF DIRECT AND SUPPORT | Grant | |||
|---|---|---|---|---|---|
| COSTS BY ACTIVITY | Direct | funding | Support | Total | |
| costs | activities | costs | 2021 | ||
| £ | £ | £ | £ | ||
| Church activities | £9,127 | £1,200 | £36,999 | £47,326 | |
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| 2021 | 2020 | ||||
| 5. | ANALYSIS OF GRANTS | ||||
| Church activities | £1,200 | £1,800 | |||
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| Donations to institutions | £ | £ | |||
| Charton Manor Nursing Home (Hawthorne Trust Limited) | 1,200 | 1,200 | |||
| Easter Camp | - | 600 | |||
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| £1,200 | £1,800 | ||||
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10
CHRISTIAN SCIENCE SOCIETY, SEVENOAKS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021 CONTINUED
6. TRUSTEES’ REMUNERATION AND EXPENSES
There were no trustees’ remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
During the year ended 31 December 2021, no Trustee was reimbursed funds to cover expenses such as ink, stamps and stationery. (2020: None)
| 7. | TANGIBLE FIXED ASSETS | Freehold land | Equipment | Total |
|---|---|---|---|---|
| and buildings | ||||
| £ | £ | £ | ||
| Cost | ||||
| At 1 January 2021 | 1,422,504 | 1,821 | 1,424,325 | |
| Additions | - | 23,093 | 23,093 | |
| Revaluation | 60,800 | - | 60,800 | |
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| At 31 December 2021 | 1,483,304 | 24,914 | 1,508,218 | |
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| Depreciation | ||||
| At 1 January 2021 | 66,504 | 1,266 | 67,770 | |
| Charge for the year | 16,800 | 6,051 | 22,851 | |
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| At 31 December 2021 | 83,304 | 7,317 | 90,621 | |
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| Net Book Value | ||||
| At 31 December 2021 | £1,400,000 | £17,597 | £1,417,597 | |
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| At 31 December 2020 | £1,356,000 | £555 | £1,356,555 | |
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| 8. | OTHER DEBTORS | 2021 | 2020 | |
| £ | £ | |||
| Accrued income | 11 | 10 | ||
| Prepayments | 800 | 797 | ||
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| £811 | £807 | |||
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11
CHRISTIAN SCIENCE SOCIETY, SEVENOAKS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021 CONTINUED
| 9. | CURRENT ASSET INVESTMENTS | Listed | |
|---|---|---|---|
| Investments | |||
| £ | |||
| Market value brought forward | 219,938 | ||
| Additions at cost | 67,437 | ||
| Disposals at opening market value | (49,975) | ||
| Conversion in the year | 1,422 | ||
| Increase in cash | 14,813 | ||
| Net unrealised revaluation gain | 14,615 | ||
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| Market value carried forward | £268,250 | ||
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| Historical cost at 31 December 2021 | £224,219 | ||
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| Historical cost at 31 December 2020 | £174,069 | ||
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| Investments at market value comprise: | 2021 | 2020 | |
| £ | £ | ||
| Listed investments | 242,284 | 208,785 | |
| Cash within investment portfolio | 25,966 | 11,153 | |
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| £268,250 | £219,938 | ||
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| Analysis of invested gains/(losses) | 2021 | 2020 | |
| £ | £ | ||
| Unrealised gains/(losses) on revaluation | 14,615 | 11,560 | |
| Realised gains/(losses) on disposal | 1,862 | (362) | |
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| £16,477 | £11,198 | ||
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| All investment gains/(losses) relate to unrestricted funds. | |||
| 10. | CREDITORS (amounts falling due within one year) | 2021 | 2020 |
| Accruals | £2,376 | £2,352 | |
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| 11. | NET INCOME/(EXPENDITURE) | 2021 | 2020 |
| Net income/(expenditure) is stated after charging: | |||
| Independent examiner’s fees | £1,212 | £1,176 | |
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12
CHRISTIAN SCIENCE SOCIETY, SEVENOAKS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021 CONTINUED
12. MOVEMENT IN FUNDS
| 2021 | Balance b/f at | Income | Expenditure | Balance c/f at | |
|---|---|---|---|---|---|
| 1 January | (including | (including | 31 December | ||
| 2021 | gains) | losses) | Transfers | 2021 | |
| £ | £ | £ | £ | £ | |
| Unrestricted Funds | |||||
| General Fund | 263,770 | 153,991 | 32,895 | (60,800) | 324,066 |
| Designated Fund | 1,356,000 | - | 16,800 | 60,800 | 1,400,000 |
| Restricted Funds | 622 | - | - | - | 622 |
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|
| £1,620,392 | £153,991 | £49,695 | £Nil | £1,724,688 | |
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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. The current restricted funds are for the Church and Reading Room.
Comparative information is as follows:
| Comparative information | is as follows: | ||||
|---|---|---|---|---|---|
| 2020 | Balance b/f at | Income | Expenditure | Balance c/f at | |
| 1 January | (including | (including | 31 December | ||
| 2020 | gains) | losses) | Transfers | 2020 | |
| £ | £ | £ | £ | £ | |
| Unrestricted Funds | |||||
| General Fund | 233,570 | 53,717 | 23,517 | - | 263,770 |
| Designated Fund | 1,372,800 | - | 16,800 | - | 1,356,000 |
| Restricted Funds | 622 | - | - | - | 622 |
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|
| £1,606,992 | £53,717 | £40,317 | £Nil | £1,620,392 | |
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|
| ANALYSIS OF NET ASSETS BETWEEN | FUNDS | ||||
| 2021 | Unrestricted | Restricted | Total | ||
| Funds | Funds | Funds | |||
| £ | £ | £ | |||
| Tangible fixed assets | 1,356,797 | - | 1,356,797 | ||
| Current assets | 308,845 | 622 | 309,467 | ||
| Current liabilities | (2,376) | - | (2,376) | ||
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| As at 31 December 2021 | £1,663,266 | £622 | £1,663,888 | ||
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| Comparative information | is as follows: | ||||
| 2020 | Unrestricted | Restricted | Total | ||
| Funds | Funds | Funds | |||
| £ | £ | £ | |||
| Tangible fixed assets | 1,356,555 | - | 1,356,555 | ||
| Current assets | 265,567 | 622 | 266,189 | ||
| Current liabilities | (2,352) | - | (2,352) | ||
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| As at 31 December 2020 | £1,619,770 | £622 | £1,620,392 | ||
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13. ANALYSIS OF NET ASSETS BETWEEN FUNDS
13
CHRISTIAN SCIENCE SOCIETY, SEVENOAKS
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2021
| 2021 | 2020 | |
|---|---|---|
| INCOME | £ | £ |
| Donations and legacies | 48,051 | 8,452 |
| Books and literature | 459 | 451 |
| Rental income | 24,000 | 30,000 |
| Investment income | 4,204 | 3,616 |
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|
| TOTAL INCOME | 76,714 | 42,519 |
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|
| EXPENDITURE | ||
| Raising funds | ||
| Investment management fees | 2,369 | 1,858 |
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|
| Charitable activities | ||
| Organist and Soloist fees | 6,950 | 6,283 |
| Literature | 2,177 | 788 |
| Sundries | 2,544 | 1,368 |
| Donations | 1,200 | 1,800 |
| Professional fees | 3,920 | 4,860 |
| Depreciation | 22,851 | 17,077 |
| Insurance | 954 | 917 |
| Light, heat and water | 4,617 | 4,870 |
| Bank charges | 102 | 72 |
| Services and repairs | 2,102 | 735 |
| Service charge (surplus)/deficit | (1,303) | (3,087) |
| Lecture costs | - | 1,600 |
| Independent examiner’s fees | 1,212 | 1,176 |
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|
| 47,326 | 38,459 | |
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|
| TOTAL EXPENDITURE | £49,695 | £40,317 |
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|
NET INCOME/(EXPENDITURE) BEFORE GAINS |
27,019 | 2,202 |
| Other recognised gains | ||
| Gains/(losses) on investment assets | 16,477 | 11,198 |
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|
| NET INCOME/(EXPENDITURE) | £43,496 | £13,400 |
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This page does not form part of the statutory financial statements.