DocuSign Envelope ID: 0789132A-3AAE-4445-BE84-FD6E359072D5
Charity number: 1047717
Bethel United Church of Jesus Christ Apostolic U.K.
Trustees' Report and Financial Statements
For the year ended 31 March 2022
DocuSign Envelope ID: 0789132A-3AAE-4445-BE84-FD6E359072D5
Bethel United Church of Jesus Christ Apostolic U.K.
Contents
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 6 |
| Independent auditors' report on the financial statements | 7 - 10 |
| Statement of financial activities | 11 |
| Balance sheet | 12 |
| Statement of cash flows | 13 |
| Notes to the financial statements | 14 - 30 |
DocuSign Envelope ID: 0789132A-3AAE-4445-BE84-FD6E359072D5
Bethel United Church of Jesus Christ Apostolic U.K.
Reference and Administrative Details of the Charity, its Trustees and Advisers For the year ended 31 March 2022
| Trustees | Mr G Pomell, Chair |
|---|---|
| Mr D Lewin, Treasurer | |
| Mr R Narme | |
| Mr J Smith | |
| Mrs L Foster-Brooks | |
| Mr G Whitter | |
| Charity registered number 1047717 Principal office Bethel Convention Centre Kelvin Way West Bromwich West Midlands B70 7JW Independent auditors Dains Audit Limited 15 Colmore Row Birmingham B3 2BH Bankers Barclays Bank plc Ground Floor 15 Colmore Row Birmingham B3 2BH Solicitors Clark Brookes Turner Cary Limited 3rd Floor Guardian House Cronehills Linkway West Bromwich B70 8GS |
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DocuSign Envelope ID: 0789132A-3AAE-4445-BE84-FD6E359072D5
Bethel United Church of Jesus Christ Apostolic U.K.
Trustees' Report For the year ended 31 March 2022
The Trustees present their annual report together with the audited financial statements of the Charity for the year 1 April 2021 to 31 March 2022.
Objectives and activities
a. Policies and objectives
The charity's main objective is to advance the Christian faith.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Achievements and performance
a. Review of activities
The charity is working in furtherance of its aims and objects, the following activities were undertaken during the noted financial year:
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We continue to develop the ministry throughout the U.K working with other Bethel family of churches, who are registered independently;
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National convocation and other national meetings, in person, occurred during the financial year which was well support by members;
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We continue our fundraising activities to facilitate the above activities as well as the maintenance of fixed assets;
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The financial situation of the charity continues to be negatively impacted by Covid-19; however, monthly repayments on the loan for BCC continues;
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Conflict of Interest Policy, updated March 2020, is subject to ongoing reviews and considered practically during trustees meetings; Covid 19 has impacted trustees in person meetings;
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Financial Controls & Expense Policy; and, Fraud Risk Management Policy had been signed off dated 28 December 2020 and remained in place during the noted financial period;
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Account reporting system continues to be monitored to maintain and or improve auditing; trustees have implemented Xero accounting software whilst tapering off sage;
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The Charity submitted the required corporation tax information via our accountants to HMRC, but we were not liable to pay such taxes;
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Material improvements, repairs continues to be made to Bethel Convention Centre (BCC);
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Trustees had commenced a policy of all churches registering independently for financial administrative purposes but continued under Bethel Spiritual Leadership or Governance, historically known as National Ecclesiastical Council, but now Board of Bishops. All branch churches registered independently continue their monthly contributions to pay off the loan, which had an outstanding balance of £630,458 on 31st March 2022;
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At the date of approval of these financial statements, there are no branch churches remaining in the charity 1047717: Southampton registered on 20th July 2022 and the last branch, Gibson Road, registered 8th December 2022;
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DocuSign Envelope ID: 0789132A-3AAE-4445-BE84-FD6E359072D5
Bethel United Church of Jesus Christ Apostolic U.K.
Trustees' Report (continued) For the year ended 31 March 2022
Achievements and performance (continued)
-
Trustees are in the process of moving the legal structure of the charity from an unincorporated charity to a Charitable Incorporated Organisation (CIO); and
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Unqualified accounts continue to be achieved.
b. Investment policy and performance
COVID-19 has negatively impacted the charity's Fundraising initiatives across the board. The charity's assets are available, despite cash flow challenges, which has led to layoffs during the period, whilst striving to fulfil its obligations.
Financial review
a. Going concern
The charity has reported a surplus for the year of £32,760 (2021 - surplus of £141,109) and at the balance sheet date had net current assets of £448,721 (2021 - net current assets of £540,625). The charity has continued to make capital repayments on its bank loan of £96,169 this year.
Before and in March 2020 the spread of COVID-19 precipitated an unprecedented level of temporary closure to entities within the leisure and hospitality sector as well as religious organisations. As a result of these restrictions, branch churches were closed for a considerable period as well as the Bethel Convention Centre closing at the end of March 2020. These situations resulted in a significant reduction in income from 1st April 2020. Since the easing of restrictions within the leisure and hospitality sectors in May 2021, the Convention Centre has been able to utilise some of its capacity and hold Sunday service events and is slowly starting to facilitate external lettings.
The Trustees have prepared forecasts and projections, taking account of reasonable increases in letting performance, which show that the Charity should be able to operate within the levels of its current facility.
The Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for a period of at least 12 months from the date of approval of these financial statements. Thus, they consider that it is appropriate to continue to adopt the going concern basis in preparing the financial statements.
b. Reserves policy
The Trustees have established the level of reserves (that is those funds which are freely available) that the charity ought to have. Reserves are needed to ensure that the day to day operation of the charity can be sustained. The charity's policy is to try to maintain reserves to cover 6 months of unrestricted expenditure.
Movements in individual fund balances are given in note 16 and show closing reserves of £974,585 (2021 - £919,794) after allowance for designated funds and amounts tied up in fixed assets. This equates to roughly 15 months of unrestricted expenditure.
c. Principal funding
A detailed Statement of Financial Activities is set out on page 11 of the Financial Statements. A summary of the financial results of the charity is set out below.
During the year, the charity raised a total of £1,006,526 (2021 - £716,956) income before charitable expenditure. All of this income related to unrestricted funds and were raised through donations, tithed income, offerings, trading income, rental income and interest received.
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Bethel United Church of Jesus Christ Apostolic U.K.
Trustees' Report (continued) For the year ended 31 March 2022
Structure, governance and management
a. Constitution
The Bethel United Church of Jesus Christ (Apostolic) UK was established in January 1986 and is governed by its constitution dated 29 May 1995, amended in 2004 and amended again on 16th December 2017. The Charity was registered with the Charity Commission on 4 July 1995 under Charity number 1047717.
The Charity has a new Spiritual Board called the National Ecclesiastical Council (NEC), which is made up of a Bishops and Overseers and designated Pastor (s). The NEC replaced the Spiritual governance role previously held by the Executive Board. This is referred to in the Charity’s Constitution amended on the 29 July 2004 (and 16 December 2017). This is further explained in the minutes of the AGM which have been submitted to the Charity Commission.
The distinct separation of the Spiritual and legal components of the Charity is unique for the charity and for this reason will be a work in progress. Never-the-less, trustees remain ultimately accountable for all financial transactions and the legal compliance of the Charity.
The Charity operates from the Bethel Convention Centre in West Bromwich. Four (4) branch churches remains under its umbrella. However, the intention is that the remaining branch churches will register independently. This Charity and independently registered charities, for financial administrative purposes, will continue to support this Charity: this is through donations and national meetings but are under the same spiritual governance. The Charity also has ongoing contact with other overseas organisations operating under the Bethel name especially during international convocations where donations are made to this Charity.
b. Methods of appointment or election of Trustees
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Constitution, as stipulated in the amended constitution dated 16th December 2017. Trustees can but didn’t receive subsistence i.e. lunch allowances, but no other remuneration for the performance of their duties.
c. Organisational structure and decision-making policies
The Charity is managed, and its policies directed, by the Board of Trustees, which is supported by the NEC. The Charity is structured as follows but is under review:
Chair Vice Chair
Council of Elders General Secretary Assistant Secretary Voting Members Non-Voting Members
The Charity itself is made up of General Members, Voting Members and Non-Voting Members. Members who hold a current License, or are ordained in the Church, are Voting Members and have the right to vote on all matters pertaining to the Church. General Members have the right to vote only in relation to the dissolution of the Charity.
The title to the property belonging to the Charity is held by the Trustees listed on page 1.
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Bethel United Church of Jesus Christ Apostolic U.K.
Trustees' Report (continued) For the year ended 31 March 2022
Structure, governance and management (continued)
d. Policies adopted for the induction and training of Trustees
New Trustees will be encouraged to undergo a briefing on their legal obligations under charity and company law, the content of the Constitution, the committee and decision-making processes, the business plan and recent financial performance of the Charity. The new Trustees will also be encouraged to meet key employees and other Trustees. Trustees are and will be encouraged to attend appropriate internal and external training events where these will facilitate the undertaking of their role.
e. Financial risk management
The Trustees have the responsibility of assessing the major risks to which the charity is exposed; in particular, those related to the operations and finances of the charity. Trustees are currently reviewing the systems and procedures to ensure these are in place to mitigate our exposure to major risks. Trustees reviewing these risks are ongoing.
Plans for future periods
The Charity's longer-term strategy for beyond 2021 is to maintain its activities and ultimately, to achieve some growth. The trustees have continued to put measures in place to try and expand the areas in which the charity operates to achieve this. As such, the trustees believe the Charity to be a going concern and have adopted this assumption in preparing the financial statements.
The trustees are looking to incorporate Bethel United Church of Jesus Christ Apostolic UK into a Charitable Incorporated Organisation under the same name. The Trustees have commissioned Anthony Collins Solicitors LLP to prepare a draft constitution and make the application to the Charity Commission. The draft constitution will be put to the membership in February 2023 for a decision. This decision to change the legal structure is based on the trustee’s desire to take advantage of the separate legal personality and limited legal liability for trustees.
Because of the impact of COVID-19, in the short-term, trustees have adopted a volunteering support model for the day to day running of the Bethel Convention Centre.
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. 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 of the Charities SORP (FRS 102);
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make judgements and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) 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 business.
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DocuSign Envelope ID: 0789132A-3AAE-4445-BE84-FD6E359072D5
Bethel United Church of Jesus Christ Apostolic U.K.
Trustees' Report (continued) For the year ended 31 March 2022
Statement of Trustees' responsibilities (continued)
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and 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 Charity (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.
Disclosure of information to auditors
Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:
-
so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and
-
that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information.
Auditors
The Trustees, having been notified of the cessation of the partnership known as Dains LLP, resolved that Dains Audit Limited be appointed as successor auditor with effect from 1 April 2022. The auditors, Dains Audit Limited, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.
Approved by order of the members of the board of Trustees on 23-Jan-23 | 2:55 PM GMT _______ and signed on their behalf by: _________ Mr G Pomell Chair of Trustees
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DocuSign Envelope ID: 0789132A-3AAE-4445-BE84-FD6E359072D5
Bethel United Church of Jesus Christ Apostolic U.K.
Independent Auditors' Report to the Members of Bethel United Church of Jesus Christ Apostolic U.K.
Opinion
We have audited the financial statements of Bethel United Church of Jesus Christ Apostolic U.K. (the 'charity') for the year ended 31 March 2022 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
In our opinion the financial statements:
-
give a true and fair view of the state of the charity's affairs as at 31 March 2022 and of its incoming resources and application of resources for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
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Bethel United Church of Jesus Christ Apostolic U.K.
Independent Auditors' Report to the Members of Bethel United Church of Jesus Christ Apostolic U.K. (continued)
Other information
The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
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the information given in the Trustees' report is inconsistent in any material respect with the financial statements; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records and returns; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Trustees' responsibilities statement, the Trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
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Bethel United Church of Jesus Christ Apostolic U.K.
Independent Auditors' Report to the Members of Bethel United Church of Jesus Christ Apostolic U.K. (continued)
Auditors' responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
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the senior statutory auditor ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
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we identified the laws and regulations applicable to the company through discussions with trustees and other management, and from our commercial knowledge and experience of the charity sector;
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we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Charity, including the financial reporting legislation, Charities Act 2011, taxation legislation, anti-bribery, employment, and environmental and health and safety legislation;
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we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
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identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the Charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
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making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
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considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
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performed analytical procedures to identify any unusual or unexpected relationships;
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tested journal entries to identify unusual transactions;
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assessed whether judgements and assumptions made in determining the accounting estimates set out in Note 2 were indicative of potential bias; and
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investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
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agreeing financial statement disclosures to underlying supporting documentation;
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reading the minutes of meetings of those charged with governance;
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enquiring of management as to actual and potential litigation and claims; and
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DocuSign Envelope ID: 0789132A-3AAE-4445-BE84-FD6E359072D5
Bethel United Church of Jesus Christ Apostolic U.K.
Independent Auditors' Report to the Members of Bethel United Church of Jesus Christ Apostolic U.K. (continued)
- reviewing correspondence with HMRC, relevant regulators and the Charity’s legal advisors.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
Use of our report
This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's Trustees those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.
Dains Audit Limited
Statutory Auditor Chartered Accountants
Birmingham
Date: 23-Jan-23 | 4:26 PM GMT
Dains Audit Limited are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
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DocuSign Envelope ID: 0789132A-3AAE-4445-BE84-FD6E359072D5
Bethel United Church of Jesus Christ Apostolic U.K.
Statement of financial activities For the year ended 31 March 2022
| Note Income from: Donations and legacies 3 Charitable activities 4 Other trading activities 5 Investments 6 Total income Expenditure on: Charitable activities Total expenditure Net (expenditure)/income before net gains on investments Net gains on revaluation of investment properties Net income Transfers between funds 16 Net movement in funds before demergers Demerger of branch churches to independent charities Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2022 £ 699,238 41,875 114,533 84,180 939,826 993,852 993,852 (54,026) 130,000 75,974 21,700 97,674 (109,914) (12,240) 3,552,608 (12,240) 3,540,368 |
Restricted funds 2022 £ 66,700 - - - 66,700 - - 66,700 - 66,700 (21,700) 45,000 - 45,000 - 45,000 45,000 |
Total funds 2022 £ 765,938 41,875 114,533 84,180 1,006,526 993,852 993,852 12,674 130,000 142,674 - 142,674 (109,914) 32,760 3,552,608 32,760 3,585,368 |
Total funds 2021 £ 586,076 36,946 25,022 68,912 |
|---|---|---|---|---|
| 716,956 780,589 |
||||
| 780,589 (63,633) 204,742 |
||||
| 141,109 - |
||||
| 141,109 - |
||||
| 141,109 3,411,499 141,109 |
||||
| 3,552,608 |
All income and expenditure in 2021 related to unrestricted funds.
The notes on pages 14 to 30 form part of these financial statements.
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Bethel United Church of Jesus Christ Apostolic U.K.
Balance Sheet As at 31 March 2022
| Note Fixed assets Tangible assets 11 Investment property 12 Current assets Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 15 Total net assets Charity funds Restricted funds 16 Unrestricted funds 16 Total funds |
31,626 576,524 608,150 (159,429) |
2022 £ 2,433,319 1,272,000 3,705,319 448,721 4,154,040 (568,672) 3,585,368 45,000 3,540,368 3,585,368 |
61,466 592,250 653,716 (113,091) |
2021 £ 2,549,527 1,142,000 |
|---|---|---|---|---|
| 3,691,527 540,625 |
||||
| 4,232,152 (679,544) |
||||
| 3,552,608 - 3,552,608 |
||||
| 3,552,608 |
The financial statements were approved and authorised for issue by the Trustees on 23-Jan-23 | 2:55 PM GMT _______ and signed on their behalf by:
Mr G Pomell Chair of Trustees
The notes on pages 14 to 30 form part of these financial statements.
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Bethel United Church of Jesus Christ Apostolic U.K.
Statement of Cash Flows For the year ended 31 March 2022
| Note Cash flows from operating activities Net cash used in operating activities 19 Cash flows from investing activities Purchase of tangible fixed assets Net cash (used in)/provided by investing activities Cash flows from financing activities Repayments of borrowing Net cash used in financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year 20 The notes on pages 14 to 30 form part of these financial statements |
2022 £ 127,283 (46,840) (46,840) (96,169) (96,169) (15,726) 592,250 576,524 |
2021 £ 69,715 |
|---|---|---|
| - | ||
| - | ||
| (36,269) | ||
| (36,269) | ||
| 33,446 558,804 |
||
| 592,250 |
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Bethel United Church of Jesus Christ Apostolic U.K.
Notes to the Financial Statements For the year ended 31 March 2022
1. Accounting policies
1.1 Basis of preparation of financial statements
The financial statements 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 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Bethel United Church of Jesus Christ Apostolic U.K. meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
1.2 Going concern
The charity has reported a surplus for the year of £32,760 (2021 - surplus of £141,109) and at the balance sheet date had net current assets of £448,721 (2021 - net current assets of £540,625). The charity has continued to make capital repayments on its bank loan of £96,169 this year.
Before and in March 2020 the spread of COVID-19 precipitated an unprecedented level of temporary closure to entities within the leisure and hospitality sector as well as religious organisations. As a result of these restrictions, branch churches were closed for a considerable period as well as the Bethel Convention Centre closing at the end of March 2020. These situations resulted in a significant reduction in income from 1st April 2020. Since the easing of restrictions within the leisure and hospitality sectors in May 2021, the Convention Centre has been able to utilise some of its capacity and hold Sunday service events and is slowly starting to facilitate external lettings.
The Trustees have prepared forecasts and projections, taking account of reasonable increases in letting performance, which show that the Charity should be able to operate within the levels of its current facility.
The Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for a period of at least 12 months from the date of approval of these financial statements. Thus, they consider that it is appropriate to continue to adopt the going concern basis in preparing the financial statements.
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Bethel United Church of Jesus Christ Apostolic U.K.
Notes to the Financial Statements For the year ended 31 March 2022
1. Accounting policies (continued)
1.3 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.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold.
Where the donated good is a fixed asset, it is measured at fair value, unless it is impractical to measure this reliably, in which case the cost of the item to the donor should be used. The gain is recognised as income from donations and a corresponding amount is included in the appropriate fixed asset class and depreciated over the useful economic life in accordance with the Charity's accounting policies.
On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Charity which is the amount it 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.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
1.4 Expenditure
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 allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
1.5 Government grants
Government grants are credited to the Statement of financial activities as the related expenditure is incurred.
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DocuSign Envelope ID: 0789132A-3AAE-4445-BE84-FD6E359072D5
Bethel United Church of Jesus Christ Apostolic U.K.
Notes to the Financial Statements For the year ended 31 March 2022
1. Accounting policies (continued)
1.6 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
1.7 Taxation
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
1.8 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following bases:
Freehold land - not depreciated - Freehold property 3% straight line - Fixtures, fittings and equipment 15-25% straight line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
1.9 Investment properties
Investment property is carried at fair value determined annually by trustees and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changs in the fair value are recogised in the Statement of financial activities.
1.10 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
1.11 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
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DocuSign Envelope ID: 0789132A-3AAE-4445-BE84-FD6E359072D5
Bethel United Church of Jesus Christ Apostolic U.K.
Notes to the Financial Statements For the year ended 31 March 2022
1. Accounting policies (continued)
1.12 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
1.13 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
1.14 Operating leases
Rentals paid under operating leases are charged to the Statement of financial activities on a straight line basis over the lease term.
1.15 Pensions
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.
1.16 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
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DocuSign Envelope ID: 0789132A-3AAE-4445-BE84-FD6E359072D5
Notes to the Financial Statements For the year ended 31 March 2022
Bethel United Church of Jesus Christ Apostolic U.K.
2. Critical accounting estimates and areas of judgement
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions:
The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
Critical areas of judgement:
Depreciation and residual values
The Trustees have reviewed the asset lives and associated residual values of all fixed asset classes and have concluded that asset lives and residual values are appropriate.
Valuation of investment properties
The Trustees have reviewed the valuation of each investment property and have concluded that the valuation is appropriate.
3. Income from donations and legacies
| Donations, offerings and tithes Government grants |
Unrestricted funds 2022 £ 668,095 31,143 699,238 |
Restricted funds 2022 £ 66,700 - 66,700 |
Total funds 2022 £ 734,795 31,143 |
|---|---|---|---|
| 765,938 |
The Charity has been eligible to claim from the government support schemes in response to the COVID19 outbreak.
The Charity furloughed certain staff under the Government's Coronavirus Job Retention Scheme (CJRS). The funding received of £31,143 (2021 - £120,023) relates to claims made in respect of the year.
| Donations Government grants |
Unrestricted funds 2021 £ 466,053 120,023 586,076 |
Total funds 2021 £ 466,053 120,023 |
|---|---|---|
| 586,076 |
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DocuSign Envelope ID: 0789132A-3AAE-4445-BE84-FD6E359072D5
Bethel United Church of Jesus Christ Apostolic U.K.
Notes to the Financial Statements For the year ended 31 March 2022
4. Income from charitable activities
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2022 | 2022 | 2021 | |
| £ | £ | £ | |
| Religious events | 41,875 | 41,875 | 36,946 |
5. Income from trading activities
| Convention Centre Investment income Rental income Bank interest |
Unrestricted funds 2022 £ 114,533 Unrestricted funds 2022 £ 84,180 - 84,180 |
Total funds 2022 £ 114,533 Total funds 2022 £ 84,180 - 84,180 |
Total funds 2021 £ 25,022 |
|---|---|---|---|
| Total funds 2021 £ 68,870 42 |
|||
| 68,912 |
6. Investment income
7. Analysis of expenditure by activities
| Church mission Convention Centre |
Activities undertaken directly 2022 £ 374,172 612,855 987,027 |
Governance costs 2022 £ 6,825 - 6,825 |
Total funds 2022 £ 380,997 612,855 |
|---|---|---|---|
| 993,852 |
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DocuSign Envelope ID: 0789132A-3AAE-4445-BE84-FD6E359072D5
Bethel United Church of Jesus Christ Apostolic U.K.
Notes to the Financial Statements For the year ended 31 March 2022
7. Analysis of expenditure by activities (continued)
| Church mission Convention Centre |
Activities undertaken directly 2021 £ 319,589 454,500 774,089 |
Governance costs 2021 £ - 6,500 6,500 |
Total funds 2021 £ 319,589 461,000 |
|---|---|---|---|
| 780,589 |
Analysis of direct costs
| Staff costs Depreciation Church Rent & Servicing Church Wages & Office Expenses Office and administration Convocational expenses Donations Books and equipment Food and direct purchases Bank charges and interest Marketing and publicity Premises expenses Equipment hire Postage and stationery Telephone Other expenses Repairs and maintenance Insurance Accountancy fees Professional fees Total 2022 |
Church Mission 2022 £ - 21,825 48,750 21,056 - 114,752 41,971 2,956 - 638 - 39,123 - 865 1,479 50,355 19,265 4,766 - 6,371 374,172 |
Convention Centre 2022 £ 202,981 141,223 - - (424) - - - 649 24,531 2,197 124,995 28,130 - 12,448 11,410 25,405 - 4,630 34,680 612,855 |
Total funds 2022 £ 202,981 163,048 48,750 21,056 (424) 114,752 41,971 2,956 649 25,169 2,197 164,118 28,130 865 13,927 61,765 44,670 4,766 4,630 41,051 |
|---|---|---|---|
| 987,027 |
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DocuSign Envelope ID: 0789132A-3AAE-4445-BE84-FD6E359072D5
Bethel United Church of Jesus Christ Apostolic U.K.
Notes to the Financial Statements For the year ended 31 March 2022
7. Analysis of expenditure by activities (continued)
Analysis of direct costs (continued)
| Staff costs Depreciation Rent Ministerial expenses Office and administration Convocational expenses Donations Food and direct purchases Bank charges and interest Marketing and publicity Premises expenses Equipment hire Postage and stationery Telephone Other expenses Repairs and maintenance Insurance Accountancy fees Professional fees Total 2021 |
Church Mission 2021 £ - 15,991 32,100 3,278 - 100 79,129 - 524 - 35,570 - 452 1,575 54,230 92,352 4,085 - 203 319,589 |
Convention Centre 2021 £ 171,594 141,013 - - 63 - - 202 28,519 5,174 55,532 12,421 - 10,724 4,978 7,697 - 7,210 9,373 454,500 |
Total funds 2021 £ 171,594 157,004 32,100 3,278 63 100 79,129 202 29,043 5,174 91,102 12,421 452 12,299 59,208 100,049 4,085 7,210 9,576 |
|---|---|---|---|
| 774,089 |
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DocuSign Envelope ID: 0789132A-3AAE-4445-BE84-FD6E359072D5
Bethel United Church of Jesus Christ Apostolic U.K.
Notes to the Financial Statements For the year ended 31 March 2022
8. Net income/(expenditure)
This is stated after charging:
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Depreciation of tangible fixed assets | 157,561 | 157,004 |
| Auditor's remuneration - audit | 6,825 | 6,500 |
| Auditor's remuneration - other services | 4,305 | 6,900 |
| Operating lease costs | 784 | 1,890 |
9. Staff costs
| Wages and salaries Social security costs Pension costs |
2022 £ 195,893 5,274 1,814 202,981 |
2021 £ 161,776 7,730 2,088 |
|---|---|---|
| 171,594 |
The Charity paid statutory redundancy and PILON to its employees during the year. The redundancy costs amounted to £49,398 (2021 - £Nil) and are included within the wages and salaries figures above.
Termination benefits are recognised immediately as an expense in the statement of financial activities when the Charity is demonstratably committed to terminate the employment of an employee or to provide termination benefits.
The average number of persons employed by the Charity during the year was as follows:
| 2022 | 2021 | |
|---|---|---|
| No. | No. | |
| Convention centre | 16 | 27 |
No employee received remuneration amounting to more than £60,000 in either year.
The total compensation received by the key management personnel of the charity was £Nil (2021 - £Nil).
10. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2021 - £NIL).
During the year ended 31 March 2022, no Trustee expenses have been incurred (2021 - £NIL).
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DocuSign Envelope ID: 0789132A-3AAE-4445-BE84-FD6E359072D5
Bethel United Church of Jesus Christ Apostolic U.K.
Notes to the Financial Statements For the year ended 31 March 2022
11. Tangible fixed assets
| Cost At 1 April 2021 Additions At 31 March 2022 Depreciation At 1 April 2021 Charge for the year At 31 March 2022 Net book value At 31 March 2022 At 31 March 2021 12. Investment property Valuation At 1 April 2021 Surplus on revaluation At 31 March 2022 |
Freehold land and property £ 5,974,467 - 5,974,467 3,455,092 149,825 3,604,917 2,369,550 2,519,375 |
Fixtures, fittings and equipment £ 770,686 46,840 817,526 740,534 13,223 753,757 63,769 30,152 |
Total £ 6,745,153 46,840 |
|---|---|---|---|
| 6,791,993 | |||
| 4,195,626 163,048 |
|||
| 4,358,674 | |||
| 2,433,319 | |||
| 2,549,527 | |||
| Freehold investment property £ 1,142,000 130,000 |
|||
| 1,272,000 |
The 2022 valuations were made by the Trustees on an open market value for existing use basis. In the opinion of the Trustees, the market value of the investment property is still materially correct at 31 March 2022.
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DocuSign Envelope ID: 0789132A-3AAE-4445-BE84-FD6E359072D5
Bethel United Church of Jesus Christ Apostolic U.K.
Notes to the Financial Statements For the year ended 31 March 2022
13. Debtors
| Trade debtors Other debtors Prepayments and accrued income |
2022 £ 18,017 10,170 3,439 31,626 |
2021 £ 37,749 21,425 2,292 |
|---|---|---|
| 61,466 |
14. Creditors: Amounts falling due within one year
| Bank loans Trade creditors Other taxation and social security Other creditors Accruals and deferred income |
2022 £ 61,785 42,185 10,215 5,383 39,861 159,429 |
2021 £ 47,082 15,105 27,101 795 23,008 |
|---|---|---|
| 113,091 |
Bank loan security
The mortgage loan is secured via a first legal charge over the land and buildings at Bethel Convention Centre, Kelvin Way, West Bromwich.
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DocuSign Envelope ID: 0789132A-3AAE-4445-BE84-FD6E359072D5
Bethel United Church of Jesus Christ Apostolic U.K.
Notes to the Financial Statements For the year ended 31 March 2022
15. Creditors: Amounts falling due after more than one year
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Bank loans | 568,672 | 679,544 |
The bank loan is repayable over the 3 months following the balance sheet date. Repayments of £5,858 are due monthly with the remaining balance repayment due in June 2022. Interest is charged on the bank loan at a fixed rate of 3.3%.
From 1 July 2022 a 12-month variation of the loan commenced. Under this variation, £7,000 repayments are due monthly and interest is charged on the bank loan at a rate of 2.45% + LIBOR.
The mortgage loan is secured via a first legal charge over the land and buildings at Bethel Convention Centre, Kelvin Way, West Bromwich.
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DocuSign Envelope ID: 0789132A-3AAE-4445-BE84-FD6E359072D5
Bethel United Church of Jesus Christ Apostolic U.K.
Notes to the Financial Statements For the year ended 31 March 2022
16. Statement of funds
Statement of funds - current year
| Balance at 1 April 2021 £ Unrestricted funds Designated funds Donations account 83,287 Fixed assets 2,549,527 2,632,814 General funds General Funds 919,794 Total Unrestricted funds 3,552,608 Restricted funds Mortgage reserves - Total of funds 3,552,608 Designated funds |
Income £ 178,008 - 178,008 761,818 939,826 66,700 1,006,526 |
Expenditure £ (18,831) (163,048) (181,879) (811,973) (993,852) - (993,852) |
Transfers in/out £ (110,000) 46,840 (63,160) 84,860 21,700 (21,700) - |
Gains/ (Losses) £ - - - 20,086 20,086 - 20,086 |
Balance at 31 March 2022 £ 132,464 2,433,319 |
|---|---|---|---|---|---|
| 2,565,783 | |||||
| 974,585 | |||||
| 3,540,368 | |||||
| 45,000 | |||||
| 3,585,368 | |||||
Donations account
This fund comprises cash held at bank to fund future mortgage loan repayments over the next 12 months, the capital element of which is held in creditors on the balance sheet.
Fixed assets
This fund represents amounts tied up in the tangible assets of the charity.
Restricted funds
Mortgage reserves
Donations received to specifically assist the repayment of the mortgage liability.
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DocuSign Envelope ID: 0789132A-3AAE-4445-BE84-FD6E359072D5
Bethel United Church of Jesus Christ Apostolic U.K.
Notes to the Financial Statements For the year ended 31 March 2022
16. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds Designated funds Donations account Fixed assets General funds General Funds Total Unrestricted funds |
Balance at 1 April 2020 £ 62,793 2,706,531 2,769,324 642,175 3,411,499 |
Income £ 128,508 - 128,508 588,448 716,956 |
Expenditure £ (26,515) (157,004) (183,519) (597,070) (780,589) |
Transfers in/out £ (81,499) - (81,499) 81,499 - |
Gains/ (Losses) £ - - - 204,742 204,742 |
Balance at 31 March 2021 £ 83,287 2,549,527 |
|---|---|---|---|---|---|---|
| 2,632,814 | ||||||
| 919,794 | ||||||
| 3,552,608 |
17. Summary of funds
Summary of funds - current year
| Designated funds General funds Restricted funds |
Balance at 1 April 2021 £ 2,632,814 919,794 - 3,552,608 |
Income £ 178,008 761,818 66,700 1,006,526 |
Expenditure £ (181,879) (811,973) - (993,852) |
Transfers in/out £ (63,160) 84,860 (21,700) - |
Gains/ (Losses) £ - 20,086 - 20,086 |
Balance at 31 March 2022 £ 2,565,783 974,585 45,000 |
|---|---|---|---|---|---|---|
| 3,585,368 |
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DocuSign Envelope ID: 0789132A-3AAE-4445-BE84-FD6E359072D5
Bethel United Church of Jesus Christ Apostolic U.K.
Notes to the Financial Statements For the year ended 31 March 2022
17. Summary of funds (continued)
Summary of funds - prior year
| Designated funds General funds |
Balance at 1 April 2020 £ 2,769,324 642,175 3,411,499 |
Income £ 128,508 588,448 716,956 |
Expenditure £ (183,519) (597,070) (780,589) |
Transfers in/out £ (81,499) 81,499 - |
Gains/ (Losses) £ - 204,742 204,742 |
Balance at 31 March 2021 £ 2,632,814 919,794 |
|---|---|---|---|---|---|---|
| 3,552,608 |
18. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Tangible fixed assets Investment property Current assets Creditors due within one year Creditors due in more than one year Total |
Unrestricted funds 2022 £ 2,433,319 1,272,000 563,150 (159,429) (568,672) 3,540,368 |
Restricted funds 2022 £ - - 45,000 - - 45,000 |
Total funds 2022 £ 2,433,319 1,272,000 608,150 (159,429) (568,672) |
|---|---|---|---|
| 3,585,368 |
Analysis of net assets between funds - prior year
| Tangible fixed assets Investment property Current assets Creditors due within one year Creditors due in more than one year Total |
Unrestricted funds 2021 £ 2,549,527 1,142,000 653,716 (113,091) (679,544) 3,552,608 |
Total funds 2021 £ 2,549,527 1,142,000 653,716 (113,091) (679,544) |
|---|---|---|
| 3,552,608 |
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DocuSign Envelope ID: 0789132A-3AAE-4445-BE84-FD6E359072D5
Bethel United Church of Jesus Christ Apostolic U.K.
Notes to the Financial Statements For the year ended 31 March 2022
19. Reconciliation of net movement in funds to net cash flow from operating activities
| Net income for the year (as per Statement of Financial Activities) Adjustments for: Depreciation charges De-merger of branch churches to independent charities Decrease/(increase) in debtors Increase/(decrease) in creditors Revaluation of investment properties Net cash provided by operating activities |
2022 £ 142,674 163,048 (109,914) 29,840 31,635 (130,000) 127,283 |
2021 £ 141,109 157,004 - (1,726) (21,930) (204,742) |
|---|---|---|
| 69,715 |
| 20. Analysis of cash and cash equivalents Cash in hand Total cash and cash equivalents |
2022 £ 576,524 576,524 |
2021 £ 592,250 |
|---|---|---|
| 592,250 |
21. Analysis of changes in net debt
| Cash at bank and in hand Debt due within 1 year Debt due after 1 year |
At 1 April 2021 £ 592,250 (47,082) (679,544) (134,376) |
Cash flows £ (15,726) 96,169 - 80,443 |
Other non- cash changes £ - (110,872) 110,872 - |
At 31 March 2022 £ 576,524 (61,785) (568,672) |
|---|---|---|---|---|
| (53,933) |
22. Pension commitments
The Charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £1,814 (2021 - £2,088). Contributions totalling £Nil (2021 - £112) were payable to the fund at the balance sheet date and are included in creditors.
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DocuSign Envelope ID: 0789132A-3AAE-4445-BE84-FD6E359072D5
Bethel United Church of Jesus Christ Apostolic U.K.
Notes to the Financial Statements For the year ended 31 March 2022
23. Operating lease commitments
At 31 March 2022 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:
| 2022 | 2021 | |||
|---|---|---|---|---|
| £ | £ | |||
| Not later than | 1 | year | 784 | - |
24. Related party transactions
The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 March 2022.
25. Post balance sheet events
On 20 July 2022, the Southampton branch church left and formed the independent charity Bethel Apostolic Church Southampton (charity number: 1199725).
On 8 December 2022, the Gibson Road branch church left and formed the independent charity Bethel United Church of Jesus Christ (Apostolic) 2 Gibson Road (charity number: 1201273).
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