CHROMA CHURCH BIRMINGHAM
Financial Statements
for the year ended 31 August 2022
Company Number 3059994
Chroma Church Birmingham
Financial Statements
Year Ended 31 August 2022
| Pages | |
|---|---|
| Contents | |
| Information | 1 |
| Directors/Trustees Annual Report | 2-6 |
| Independent Examiners Report | 7 |
| Statement of financial activities | 8 |
| Balance Sheet | 9 |
| Notes to the financial statements | 10-16 |
Chroma Church Birmingham
Charitable Company Information
Directors
D T McNeil M Hoye Resigned 26 April 2022 G Barker A Wolf N Spencer
Company Secretary
D T McNeil
Charity Number 1047411
Company Number 3059994
Registered Office
76 Church Road Aston Birmingham B6 5TY
Independent Examiner
Gary Peter Brookes FCA BSc 130 Wombourne Park Wolverhampton South Staffs WV5 0LY
Bankers
HSBC Sutton Coldfield
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Chroma Church Birmingham Directors Report For the Year Ended 31 August 2022
Structure, Governance and Management
Chroma Church Birmingham’s primary Governance document is its Memorandum and Articles of Association incorporated on 23[rd] May 1995 as amended by special resolution(s) dated 12[th] October 2015 as amended by certificate of incorporation on change of name dated 9[th] December 2015 and further updated change of name updated 30[th] April 2021. The Charity is constituted as a Charitable Company Limited by Guarantee.
Trustee recruitment, appointment and training
Trustees are approved and appointed by the Senior Leadership Team, who are the members of the Charity. Every effort is made to ensure that any new Trustee appointment will contribute significantly to the skills base of the team. Areas of experience and competence are actively examined as well as the need for a trustee to be local and familiar with the day-to-day activities of the Charity.
Having identified a potential candidate, one or other of the existing Trustees will be nominated to meet with and to appraise the potential Trustee as to the role and responsibilities of serving the charity in the capacity of a Trustee. Due to the size and nature of the Charity, we have adopted an informal training and induction process for new Trustees. This is achieved through interaction with the existing Trustees and through the provision of current documentation on the role and responsibilities of Trustees provided by the Charity Commission.
Organisational Structure
The Charity is organised so that the Trustees, who are also the Management Committee, meet regularly to manage its affairs. There is one full-time Senior Leader and a part-time Senior Leader who work together to manage the day-to-day administration of the Charity. They are assisted by a Staff Team which includes a part-time Children's and Families Pastor, a part-time Operations Facilitator a part-time Media & Production manager, a part-time Worship and Compassion Pastor and a Young Adults worker volunteering via a religious worker visa. The Senior Pastors oversee the Staff Team plus a number of additional voluntary team members.
Relationship with connected organisations
Chroma Church Birmingham is a Christian Church. The Senior Leaders meet regularly with other local church leaders at gatherings for connection & encouragement as well as informal connections with other relational networks of Church and Ministry leaders.
The Church is focused on providing financial support to several partner organisations that represent a range of charities covering objectives including discipleship, outreach, training & compassion ministry in local, national, and international contexts.
Locally the Church supported youthwork project ‘The Gap’ and drop-in centre ‘Reachout Network Ministries’. The Gap provides detached youthwork services in North Birmingham as well as mentoring services to secondary schools and support with mental health. Reachout Network Ministries is based in Edgbaston and provides support for the homeless, vulnerable, and disadvantaged in Birmingham. The drop-in centre offers a place for relationship, discovery of faith and provision for practical needs such as food, clothing, and personal care. During the year additional support was provided for the Karis Neighbour Scheme in Edgbaston.
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Chroma Church Birmingham Directors Report For the Year Ended 31 August 2022
Nationally the Church continued to provide support for Jess Regnart of ‘Freedom in Christ’ ministries as well as initiating new support for ‘Bethel Sozo UK’ leaders David & Christine West and advocacy group ‘Christian Concern’. Freedom in Christ provides discipleship resources and training to help individuals both discover and deepen in faith. Bethel Sozo UK is a relational network of Churches committed to bringing inner healing and wholeness to individuals. Christian Concern works to make Jesus and His ways known, to protect the freedom to live and speak for Him and to empower Christians to be compassionate and courageous ambassadors. Additional support was provided during the year to the New Carmel Prophets, a ministry providing encouragement to prophetic hubs across the UK.
Internationally the Church supported the Kenyan educational project ‘Spurgeons Academy’ and the nondenominational mission ‘Open Doors’ which supports persecuted Christians throughout the world. Based in the slum suburb of Kibera, Nairobi the child sponsorship program at Spurgeons Academy provides educational assistance as well as family support to address health & social needs. Support is provided for project Director Kenyanito Dudi to assist his leadership which is administrated through partner organisation ‘Global Care’. Open Doors seeks to provide advocacy for the persecuted church. Although Open Doors is primarily a Christian charity it assists people of all faiths and none who experience the hardship suffered through the oppression of persecution. Additional support was provided to ‘Mission Romania’ to enable funds and resources to support some of this Charities work with displaced Ukrainian refugees because of the current conflict between Ukraine & Russia.
Risk management
The Directors purpose to be aware of any major strategic, operational, and financial risks to the Charity. In the year ahead, all the major areas will be reviewed and kept up to date. The Church has a revised child protection policy and every adult who is involved in working with the children and young people in the Church is screened through independent body, ‘ThirtyOne:eight’ and undertakes to follow the guidelines provided for churches and utilise the resources offered. The Senior Leaders hold current enhanced DBS certificates as do other members of the Leadership Group and Trustees.
Public liability is covered by an insurance policy with the Charity specialist insurers Ansvar Insurance Company Limited administrated through Barries of Durham. Financial security is managed by a regular review of the Charity’s financial status by the Senior Pastor in partnership with the Chair of Trustees which is reported to the full Trustee Team and members of the Leadership Team at scheduled meetings.
Objectives and Activities
The Charity’s objects and its principal activity is that of the advancement of the Christian Faith. The principle charitable purposes of the Company in accordance with the objects of the Memorandum and Articles of Association are the advancement of the Christian faith; the furtherance of religious education; the relief of the poor and needy; the relief of the sick and elderly and for the benefit of other charitable bodies and institutions as the Directors in their absolute discretion see fit. When planning our activities for the year we have considered the Commission's guidance on public benefit and guidance for charities relating to the advancement of religion. During this period, the objects of the Charity were put into effect by the Senior Leaders and members of the Leadership Group in conjunction with a growing Staff Team and the wider grouping of Ministry Team leaders.
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Chroma Church Birmingham Directors Report For the Year Ended 31 August 2022
Achievements and Performance
This year has seen the church experience consolidated growth and development. Church services commenced in the new premises at 76 Church Road from the first Sunday in September 2021 and the year has been marked by steady and significant growth in attendees. New visitors have been welcomed weekly from across the City of Birmingham and beyond. The Church has significantly benefited from the increased space provided to offer greater capacity for worship services and ministry to families, children and young people alike.
Strategic investment has continued to be made in the provision of excellent online resources and as a direct result the Church has welcomed a steady flow of online participants and subscribers to the inperson services. Full live-streamed services have been enabled with the purchase of equipment and offer a valuable service to those wanting to find out more as well as enabling members unable to attend in person to stay connected. A new monthly evening gathering called ‘Revival Night’ was established in early 2022 and provided a space for extended worship and ministry, attracting a steady number of firsttime visitors.
A valuable training event and outreach mission was held in partnership with Mission24 in November 2021. This provided an excellent opportunity to engage with the immediate local community as well as other locations in Birmingham. Over 100 individuals made responses to the gospel during this mission, and it has been a feature of this year to see people discover new faith in following Jesus. 13 individuals were baptised at Easter with another baptism planned for early September 2022 with another 7 candidates being prepared for baptism.
This first year in a new location has seen the Church create positive links with other local Churches, community leaders and organisations including a greater partnership with a local foodbank at the Aston and Newtown Seventh Day Adventist Church centre. The Church engaged the services of the team at Kenmore Design to assist with plans to redevelop the site at 76 Church Road to enable the more effective use of the space for the benefit of all users of the premises. Plans include the development of a Transformation Centre space to provide accommodation for various ministries including Bethel Sozo, Restoring the Foundations, Spiritual Direction, Coaching, Life Skills training, and support services for those experiencing issues around debt, mental health and more. A new community space to offer a coffee shop, stay & play area as well as improved meeting space for children and young people is envisaged as well as expanded sanctuary space to accommodate more attendees for events and activities. The design and planning process was initiated to help achieve these aims and an application submitted in May 2022. The successful marketing and sale agreed for the Church’s former premises at 480 Chester Road will assist with the redevelopments.
Church Leadership development & training events
The Senior Leaders participated in a variety of leadership gatherings including conferences and retreats. The Staff Team were provided with ongoing training and development, including the provision of Spiritual Direction sessions to ensure soul care and spiritual health. Senior Leader, Tania McNeil continued with her training to become a Spiritual Director through ‘Sustainable Faith’. Other training investment included a number of Team members successfully completing single issue training with ‘Restoring the Foundations’.
The Church hosted a number of well attended training events including a Bethel Sozo UK basic training conference, a national conference for ‘Freedom in Christ’ ministries with plans for the National New Carmel Prophets conference in the autumn of 2022.
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Chroma Church Birmingham Directors Report For the Year Ended 31 August 2022
The Church actively supports the ‘Time4Change’ initiative in Birmingham and is signed up to the racial unity charter with the Senior Leaders attending regular prayer events as well as members supporting the significant Time4Change event at St Andrews stadium. The Senior Leaders and Staff team hosted a retreat day for another City Church which was well received and enabled the team to activate their development and learning to benefit other leaders serving within Birmingham.
Children and Youth ministry
A team of committed volunteers continued with the development of ministries for the children and young people of the Church led by Matt Harris, Children & Families Pastor. The team has developed multiple age specific groups that run alongside the Sunday Morning services at the church. These provide spiritual and relational enrichment for the young people with peers and leaders, using age specific materials and spaces. Regular 'Family Gathering' events have become a feature of the church calendar. These provide a space for all families with children under 10yrs to come together for an afternoon of fun, community, and receive some input.
As the group of teenagers attending has increased, Matt Harris and the team of volunteers have developed meeting spaces and curriculum to run alongside the Sunday services on a weekly basis. 'Youth Nights' and Socials have also become a fortnightly feature for this group, providing a social space for peers to get together for worship, fun and to explore faith. The young people and team have also been interacting with local youth events such as 'Fulfil' run by Birmingham City Mission with plans to explore opportunities to minister in local secondary schools.
Social, gathering and ministry events
The year has seen a number of very positive events take place to strengthen the community of the Church following the return to in-person events and activities. Highlights included an excellent women’s event called ‘Soar’, the launch of some regular men’s breakfast events and regular Family Gatherings to connect children, parents, carers and grandparents alike. A well-attended Hog Roast social was held in February with around 200 participants which featured a ‘bake-off’ competition with games & activities including an indoor bouncy castle. This was followed up with a ‘baked potato & fillings’ lunch after Church to share more vision about building community and connections across the City. A number of local community socials were initiated after these events ahead of plans to launch a new focus on Small Groups in the autumn.
Other activities included the launch of discipleship courses for new members to assist with growing in faith. The Grace Course and Christianity explored were utilised in-person as well as online. A new ministry to the Church ws pioneered by Senior Leader, Tania McNeil called Art Sozo and provided a creative approach to connecting with God through art. These regular sessions have been well attended and have provided valuable testimonials for their helpful and healing impact on individuals.
The Church supported the Burn 24-7 prayer initiative that offered 336 hours of continuous prayer and worship during the Commonwealth Games. A team provided worship and leadership for a session where a large team of young people from Firestarter’s UK were in attendance. The impact and connections made were felt to be significant. A focus in prayer has continued to deepen and develop with the monthly Revival Nights acting as a catalyst and supported by daily rhythms of prayer established daily at 6am on zoom.
A couple of church members were celebrated, supported and sent with blessing to ministry and leadership schools in the States. We anticipate positive impact upon their return later in 2023.
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Chroma Church Birmingham Directors Report For the Year Ended 31 August 2022
Financial review
The principal funding source is voluntary donations made by members and visitors to the church. The income for the year was £606,382 which includes profit on the sale of Living Well Centre premises of £46,409 and expenditure was £240,720 resulting in an overall surplus of £365,662 .
Reserves policy
The Company holds reserves in interest bearing accounts with quick access time frames. The Trustees aim to hold reserve funds from a level of three months to approaching six months of operating expenses in these accounts. This equates to a fund of between £52k to £104k. Current unrestricted cash reserves are £532,339 which includes funds to be made available to enable the redevelopment phases of 76 Church Road.
Plans for the future
As the Church continues to grow and develop the Staff Team will continue to expand to provide excellent leadership to resource these growing spaces with the aim to grow the valuable teams of volunteers serving the vision of the Church. The negative impact of Covid-19 resulted in reduced levels of contact and the Church plans to introduce a fresh focus on gathering in Small Groups in the autumn of 2022 for community, connection and support in people’s homes across the City.
The Church will continue to pursue the redevelopment of the premises with plans to provide a new lobby space to provide a greater welcome as well as external improvements to the aesthetic impact and cohesion of the site. Resources from the sale of the former Living Well Centre premises will assist the early stages of this development process with plans to envision and engage the Church community with fundraising to complete the project. A phased development will bring into use the current storage spaces to accommodate the Transformation Centre offices and ministry spaces as well as a dedicated studio room to enhance both the digital aspects of Church as well as resourcing the growing worship and creative community.
Statements of Directors responsibilities
The directors are required under Company Law to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the company and its results for that period. In preparing those financial statements the trustees are required to:
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a. Select suitable accounting policies and apply them consistently
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b. Make judgements and estimates that are reasonable and prudent
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c. Prepare the financial statements on an ongoing concern basis unless it is inappropriate to assume the charity will continue in business
The directors are responsible for the keeping of proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity. They are also responsible for the safeguarding of the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approval
This report was approved by the directors on 24[th] March 2023 and signed on their behalf
David McNeil
............................................................................ Director
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Chroma Church Birmingham Independent Examiners Report For the Year Ended 31st August 2022
I report on the accounts for the year ended 31 August 2022 set out on the following pages
Responsibilities and basis of report
As the charity trustees of the company (who are treated as directors for the purposes of the 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 under Part 16 of the 2006 Act and are eligible for independent examination , I report in respect of my examination of your company's accounts as carried out under section 145 of the Charities Act 2011. 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
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 that in any material respect :
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(1) accounting records were not kept in respect of the company as required by section 386 of the 2006 Act or
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(2) the accounts do not accord with those records; or
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(3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that he accounts give a 'true and fair view ' which is not a matter considered as part of an independent examination ;or
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(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 ( FRS102).
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.
Name Gary Peter Brookes Relevant Professional Qualifications FCA FCIE BSc Address 130 Wombourne Park Wolverhampton South Staffs WV5 0LY
Date : 28th March 2023
7
Chroma Church Birmingham Statement of Financial Activities For the Year Ended 31st August 2022
| Restricted Funds 2022 £ Income Charitable Activities Voluntary Income 2 3,228 Bank Interest - Profit on disposal of Property - Total Income 3,228 Expenditure Charitable Activities 3 3,891 Total Expenditure 5 3,891 Net income (663) Reconciliation of funds Total funds brought forward 925,631 Total funds carried forward 924,968 Notes |
Unrestricted Funds 2022 £ 556,553 192 46,409 603,154 236,829 236,829 366,325 166,014 532,339 |
Total Funds 2022 £ 559,781 192 46,409 606,382 240,720 240,720 365,662 1,091,645 1,457,307 |
Total Funds 2021 £ 936,522 5 - |
|---|---|---|---|
| 936,527 | |||
| 171,068 | |||
| 171,068 | |||
| 765,459 | |||
| 326,186 | |||
| 1,091,645 |
There were no recognised gains or losses for 2022 or 2021 other than those included in the Statement of Financial Activities
This Statement of Financial Activities incorporates the same information required for an Income and Expenditure account under the Companies Acts
** Full comparatives for 2021 are shown in note 15
8
Chroma Church Birmingham Balance Sheet
As at 31 August 2022
| Chroma Church Birmingham Balance Sheet As at 31 August 2022 |
|||||
|---|---|---|---|---|---|
| Notes | 2022 | 2021 | |||
| £ | £ | £ | £ | ||
| Fixed Assets | |||||
| Tangible Assets for use by the church | 7 | 795,453 | 1,091,076 | ||
| Current Assets | |||||
| Debtors | 8 | 4,291 | 2,126 | ||
| Bank & Cash | 9 | 684,393 | 57,505 | ||
| Total | 688,684 | 59,631 | |||
| Creditors :amounts falling due | 10 | 26,830 | 7,262 | ||
| within one year | |||||
| Net Current Assets | 661,854 | 52,369 | |||
| Total assets less current liabilities | 1,457,307 | 1,143,445 | |||
| Creditors :amounts falling due | |||||
| after one year | 11 | - | 51,800 | ||
| Net Assets | 1,457,307 | 1,091,645 | |||
| Funds | |||||
| Unrestricted Funds | 532,339 | 166,014 | |||
| Restricted Funds | 12 | 924,968 | 925,631 | ||
| Total | 1,457,307 | 1,091,645 |
The directors have taken advantage of the Companies Act 2006 in not having these accounts audited under Section 477 (1). No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476
The Directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with s386 and s387 of the Companies Act 2006 and for preparing accounts which give a true and fair view of the state of affairs of the company as at 31 August 2022 and of its surplus for the year then ended in accordance with the requirements of s396 and which comply with the requirements of the Act relating to the accounts so far as applicable to the company.
These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.
Signed and approved on the behalf of the Board on 24th March 2023
Godfrey Barker
….................................................................................
Name: Godfrey Barker …..........................................................
9
Company registration number 3059994
Chroma Church Birmingham Notes to the accounts
For the Year Ended 31 August 2022
Basis of Accounts Preparation
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 United Kingdom and Republic of Ireland (FRS 102) (effective 1 January 2015) and the Charities Act 2011. The Financial statements are prepared on a going concern basis under the historic cost convention modified to include certain items at fair value when applicable. The financial statements are prepared in sterling which is the functional currency of the charity. 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.
Funds
Unrestricted funds are income funds which are to be spent on the charity's general purpose.
Designated funds are unrestricted funds that have been assigned to specific purposes Restricted funds comprise of two elements :-
a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest
b) donations or grants received for a specific object or invited by the charity for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund. The church does not usually invest separately for each fund. Where there is no separate investment, interest is apportioned to individual funds on an average balance basis.
Income Recognition
Planned giving, collections and donations are recognised when received. Tax refunds are recognised when the incoming resource to which they relate is received. Grants and Legacies are accounted for when the church is legally entitled to the amounts due. All other income is recognised when it is receivable. All incoming resources are accounted for gross.
Expenditure Recognition
Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding or constructive obligation on the charity. Amounts received specifically for mission are dealt with as restricted funds. All other expenditure is generally recognised when it is incurred and is accounted for gross. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
Liability recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
10
Chroma Church Birmingham Notes to the accounts For the Year Ended 31 August 2022
Governance costs
Include costs of the preparation and examination of statutory accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters.
Tangible fixed assets for the use by the church and depreciation
Tangible fixed assets for use by the church are stated at cost less depreciation
Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets less estimated residual value, over their expected useful lives.
Leasehold Property 1% per annum straight line Furniture 7% per annum straight line Equipment 20% per annum straight line
2. Voluntary Income
| General Offerings Gift Aid tax reclaims Gifts Events and activity income Grant Job Retention Scheme Other income |
2022 Restricted £ - - 3,228 - - - - 3,228 |
2022 Unrestricted £ 132,747 32,723 21,991 5,054 350,500 2,886 10,652 556,553 |
2022 2021 Total Total £ £ 132,747 137,430 32,723 28,242 25,219 27,654 5,054 500 350,500 735,000 2,886 7,696 10,652 - 559,781 936,522 |
|---|---|---|---|
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Chroma Church Birmingham Notes to the accounts For the Year Ended 31 August 2022
3. Charitable Activities
| 3a.Direct Church Activities Salaries & NIC Events and outreach Worship costs Travel expenses Youth and children Catering and housekeeping and hospitality Training and conferences Online service costs Resources Communication costs Insurance Church utilities Ground rent Church Road Licences and subscriptions Depreciation General office Bank charges Maintenance and small equipment Computer equipment & software Mortgage interest Governance 3b. Related Church Activities Pastoral & fellowship support Mission and giving Vineyard Churches (UK). Total Running Costs Direct Church Costs Staff Costs |
2022 2021 £ £ 121,845 91,769 9,074 111 937 1,263 2,167 70 2,212 1,648 3,631 1,545 4,878 5,721 2,733 13,267 964 885 1,608 2,470 2,772 1,595 11,724 1,804 22,000 7,895 1,386 782 15,524 10,746 2,244 884 145 62 7,815 6,655 2,619 4,217 2,450 3,054 6,359 1,498 225,087 157,941 1,240 432 14,393 8,838 - 3,857 15,633 13,127 240,720 171,068 |
|---|---|
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Chroma Church Birmingham Notes to the accounts
For the Year Ended 31 August 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| 4. Governance Costs | ||
| Independent Examiner and accountancy costs | 1,500 | 1,475 |
| Legals | 4,846 | - |
| Company House Fees | 13 | 23 |
| 6,359 | 1,498 | |
| 5. Net movement in funds for the year | ||
| The net movement in funds for the period is stated after charging: | ||
| Depreciation of tangible assets | 15,524 | 10,746 |
| Independent Examiner and accountancy costs | 1,500 | 1,475 |
| 6. Staff Costs | ||
| Wages & Salaries | 109,311 | 82,185 |
| Social Security Costs | 4,006 | 3,328 |
| Pension costs | 8,528 | 6,256 |
| 121,845 | 91,769 | |
| Remuneration was only paid to one member of the directors in the year | ||
| The average weekly number of staff employed by the church during the period was as follows: | ||
| Pastoral team | 4 | 3 |
| Admin , Media, Tech support | 2 | 1 |
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Chroma Church Birmingham Notes to the accounts
For the Year Ended 31 August 2022
7. Tangible fixed assets for use by the Charity
| Cost as at 31 August 2021 Additions Disposals Cost as at 31 August 2022 Depreciation as at 1 September 2021 Charge for the year Disposals Depreciation as at 31 August 2022 Net book Value as at 31 August 2022 Net book Value as at 31 August 2021 |
Freehold Property £ 412,533 - (412,533) - 78,942 - (78,942) - - 333,591 |
Leasehold Property £ 756,821 7,400 - 764,221 - 7,642 - 7,642 756,579 756,821 |
Furniture £ - 15,386 - 15,386 - 1,077 - 1,077 14,309 - 2022 |
Equipment £ 24,537 30,706 - 55,243 23,873 6,805 - 30,678 24,565 664 |
TOTAL £ 1,193,891 53,492 (412,533) 834,850 102,815 15,524 (78,942) 39,397 795,453 1,091,076 |
2021 TOTAL £ 437,070 - 756,821 |
|---|---|---|---|---|---|---|
| 1,193,891 | ||||||
| 92,069 10,746 - |
||||||
| 102,815 | ||||||
| 1,091,076 | ||||||
The freehold property is the Living Well Centre, Chester Rd, Boldmere which was sold during the year A leasehold property, used to replace the centre, was acquired at 76 Church Road Aston during the year The replacement property is valued for insurance purposes at £847,500
| 8. Debtors Gift Aid receivable Prepayments 9. Bank and Cash Current Accounts Deposit Accounts 10.Creditors :amounts falling due in one year Other creditors Social security and other taxes Accruals Mortgage 11.Creditors :amounts falling due after one year Mortgage |
2022 £ 4,291 - 4,291 6,929 677,464 684,393 1,915 1,415 23,500 - 26,830 - |
2021 £ 2,026 100 |
|---|---|---|
| 2,126 | ||
| 9,272 48,233 |
||
| 57,505 | ||
| 2,703 1,243 1,676 1,640 |
||
| 7,262 | ||
| 51,800 |
The secured mortgage facility is with Kingdom Bank for the acquisition of the Living Well Centre now repaid using proceeds of disposal during he year
A contingent Liability exists at the year end of £22,000 for uninvoiced and value disputed Ground Rent
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Chroma Church Birmingham Notes to the accounts For the Year Ended 31 August 2022
12. Fund Movements
| Restricted Funds Capital Fund Building Fund Buiding Fund Church Road Mobile presentation equipment Revenue Funds Trustees holding Small Restricted funds General Funds Unrestricted funds Total Funds |
Fund Balances Brought Forward £ 189,928 735,000 663 925,591 40 - 40 925,631 166,014 1,091,645 |
Incoming Resources £ - - - - - 3,228 3,228 3,228 603,154 606,382 |
Outgoing Resources £ - - 663 663 - 3,228 3,228 3,891 236,829 240,720 |
Transfer of funds (189,928) 189,928 - - - - |
Fund Balances Carried Forward £ - 924,928 - |
|---|---|---|---|---|---|
| 924,928 | |||||
| 40 - |
|||||
| 40 | |||||
| 924,968 | |||||
| 532,339 | |||||
| 1,457,307 |
The Building Fund Church Road is now made up of amounts given spefically towards obtaining the Church Rd Premises plus the logical inclusion of the transfer of the remaining balance of the now disposed Living Well Centre
13.Analysis of Net Assets by Fund
| Fixed Assets Net Current Assets Creditors over more than one year Net Assets |
Unrestricted Funds £ (129,475) 661,814 - 532,339 |
Restricted Total Funds Funds £ £ 924,928 795,453 40 661,854 - - 924,968 1,457,307 |
|---|---|---|
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Chroma Church Birmingham Notes to the accounts For the Year Ended 31 August 2022
14. Related Party transactions
As agreed in the memorandum of association section 4(a) Rev D T McNeil is paid for his services in his capacity as senior pastor.
| Rev D T McNeil Mrs Tania McNeil Mr Daniel McNeil salary element part year 15. SOFA Comparatives Restricted Funds £ Income Charitable Activities Voluntary Income 2 736,100 Bank Interest - Total Income 736,100 Expenditure Charitable activities 3 11,846 Total Expenditure 5 11,846 Net income 724,254 Reconciliation of funds Total funds brought forward 201,377 Total funds carried forward 925,631 Mr Daniel McNeil received £2,716 for services supplied (pre salary period) |
Salary Pension £41,054 £3,204 £28,303 £2,209 £12,285 £983.00 Unrestricted Total Funds Funds £ £ 200,422 936,522 5 5 2021 |
|---|---|
| 200,427 936,527 |
|
| 159,222 171,068 |
|
| 159,222 171,068 |
|
| 41,205 765,459 |
|
| 124,809 326,186 |
|
| 166,014 1,091,645 |
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