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2022-05-31-accounts

Soul's Harbour Pentecostal Church

Charity No. 1050246

Trustees' Report and Unaudited Accounts

31 May 2022

Soul's Harbour Pentecostal Church Contents

Pages
Trustees' Annual Report 2 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Statement of Cash flows 14
Notes to the Accounts 7 to 13
Detailed Statement of Financial Activities 15 to 16

Page 1

Soul's Harbour Pentecostal Church Trustees Annual Report

The trustees present their report with the unaudited financial statements of the charity for the year ended 31 May 2022.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1050246

Trustees

The following trustees served during the year:

R. Davies

D. Flanders

A. Quinn A.M. Sayers

==> picture [298 x 70] intentionally omitted <==

Accountants

Deepblue Accountants Ltd Unit 112 91 Mayflower Street Plymouth Devon PL1 1SB

OBJECTIVES AND ACTIVITIES

The objects of the Church (“the objects”) are for the benefit of the public:

a) To advance the Christian Faith in accordance with the statement in such ways and in such parts of the United Kingdom or the world as the Church Council form time to time may think fit;

b) To relieve sickness and financial hardship and to promote and preserve good health by the provision of funds, goods or services of any kind including through the provision of counselling and support in such parts of the United Kingdom or the world as the Church Council from time to time may think fit; and

c) To advance education in such ways and in such parts of the United Kingdom or the world as the Church Council from time to time may think fit.

• We continue to help financially support a Christian worker from the U.K. who is based in Romania and Ukraine and assists with refugees. With a monthly donation of £100 and other one-off gifts when needed.

Page 2

Soul's Harbour Pentecostal Church

Trustees Annual Report

• The Grow Centre – a Souls Harbour project – has a shop in the centre of town providing Foodbank boxes (part of the Trussell Trust) Clothesbank and a range of support for those less fortunate in the community. This is funded by Souls Harbour and also by grant donation.

FINANCIAL REVIEW

The income from donations has shown an 11% increase this year and total funds are up by £7.8k from 2021. Charity running costs dropped from £28k to £22k.

There have been donations (restricted) from abroad which have increased the overall income as has grants from the Council, Co-op and Rotary Club for the Grow Centre running costs.

The income to the charity from lettings has remained constant during the year.

During the year thanks to the generous giving of its members Souls Harbour has made sizable donations to our worker in Ukraine to buy items for relief and to the UK Bible Society for Bibles for Ukraine. Another £500 was spent on children’s toiletries for shipment to Ukraine. Regular financial help is also sent to Burundi.

For part of the year (Until 30th September) the Charity was receiving monies each month from Clays Community Church which was in payment for Pastor David Flanders work helping-out at that church. This was added to Pastor Flanders’ wages and the relevant NI contribution was added also.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Aaron Quinn a local farmer who heads up our 18-30’s ministry became a trustee this year.

Mr. Mark Sayers, a member of the board of Trustees is a director of Blue Bird Care North Cornwall who rent offices at the Church. Measures are taken to prevent any conflict of interests.

The Charity is in fellowship with the Assemblies of God of Great Britain and Ireland Incorporated company limited by guarantee (No: 2873415) and a registered Charity (No: 1032245)

Souls Harbour is an independent self-governing charity. In addition to the Trustees above it has legally appointed Holding Trustees namely Revd David Flanders, Mrs. Shirley Flanders, Mrs. Patricia Floyd-Spong and Mr. Alexander Mark Sayers who will act for the charity in the event of its failure. In the event that the charity fails the aforementioned Assemblies of God become the recipients of the charities assets according to the AOG Model Deed.

Statement of trustees' responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the charity's trustees

D.J.Flanders

D. Flanders David Flanders (Mar 30, 2023, 8:48am)

Trustee

31 March 2023

Page 3

Soul's Harbour Pentecostal Church Independent Examiners Report

Independent Examiner's Report to the trustees of Soul's Harbour Pentecostal Church

I report to the trustees on my examination of the financial statements of Soul's Harbour Pentecostal Church for the year ended 31 May 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes.

Responsibilities and basis of report

As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011('the Act'). The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in, any material respect:

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 financial statements to be reached.

Sarah Glenister (Mar 30, 2023, 9:09am)

Sarah Glenister FCCA Association of Chartered Certified Accountants Deepblue Accountants Ltd Unit 112

91 Mayflower Street Plymouth Devon PL1 1SB 31 March 2023

Page 4

Soul's Harbour Pentecostal Church Statement of Financial Activities

for the year ended 31 May 2022

Notes
Income and endowments
from:
Donations and legacies
3
Charitable activities
4
Other
5
Total
Expenditure on:
Other
6
Total
Net gains on investments
Net income
Transfers between funds
Net income before other
gains/(losses)
Other gains and losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
Unrestricted
funds
Restricted
funds
Total funds Total funds
2022 2022 2022 2021
£ £ £ £
60,937 10,059 70,996 68,860
- - - 6,760
15,909 6,246 22,155 9,771
76,846 16,305 93,151 85,391
68,816 17,078 85,894 75,231
68,816 17,078 85,894 75,231
- - - -
8,031 (774) 7,257 10,160
- - - -
8,031 (774) 7,257 10,160
8,031 (774) 7,257 10,160
13,533 8,066 21,599 11,439
21,564 7,292 28,856 21,599

Page 5

Soul's Harbour Pentecostal Church Balance Sheet

at 31 May 2022

at 31 May 2022
Charity No. 1050246
Current assets
Cash at bank and in hand
Net current assets
Total assets less current liabilities
Net assets excluding pension asset or liability
Total net assets
The funds of the charity
Restricted funds
8
Restricted income funds
Unrestricted funds
8
General funds
Reserves
8
Total funds
2022
£
28,856
28,856
28,856
28,856
28,856
28,856
7,292
7,292
21,564
21,564
28,856
2021
£
21,599
21,599
21,599
21,599
21,599
21,599
8,066
8,066
13,533
13,533
21,599

Approved by the trustees on 31 March 2023

And signed on their behalf by:

D.J.Flanders

David Flanders (Mar 30, 2023, 8:48am) D. Flanders Trustee 31 March 2023

Page 6

Soul's Harbour Pentecostal Church Notes to the Accounts

for the year ended 31 May 2022

Basis of preparation

The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Income

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 7

Soul's Harbour Pentecostal Church Notes to the Accounts

Expenditure

Taxation

The charity is exempt from tax on its charitable activities.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Page 8

Soul's Harbour Pentecostal Church Notes to the Accounts

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 9

Soul's Harbour Pentecostal Church

Notes to the Accounts

2 Statement of Financial Activities - prior year

Income and endowments from:
Donations and legacies
Charitable activities
Other
Total
Expenditure on:
Other
Total
Net income
Net income before other
gains/(losses)
Other gains and losses:
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
3
Income from donations and legacies
Offerings and tithes
Gifts
Gift Aid
4
Income from charitable activities
Grant for Grow
Unrestricted
£
51,933
1,150
7,854
60,937
Unrestricted
funds
2021
£
65,238
-
9,771
75,009
72,915
72,915
2,094
2,094
2,094
11,439
13,533
Restricted
£
1,757
8,302
-
10,059
Restricted
funds
2021
£
3,622
6,760
-
10,382
2,316
2,316
8,066
8,066
8,066
-
8,066
Total
2022
£
53,690
9,452
7,854
70,996
Total
2022
£
-
-
Total funds
2021
£
68,860
6,760
9,771
85,391
75,231
75,231
10,160
10,160
10,160
11,439
21,599
Total
2021
£
49,405
13,221
6,234
68,860
Total
2021
£
6,760
6,760

Page 10

Soul's Harbour Pentecostal Church Notes to the Accounts

5 Other income

5
Other income
Unrestricted
£
Sundry income
8,481
Rent
7,428
Growth Centre gifts
-
15,909
6
Other expenditure
Unrestricted
£
Employee costs
36,084
Premises costs
17,904
General administrative costs
14,467
Legal and professional costs
360
68,816
7
Staff costs
Salaries and wages
No employee received emoluments in excess of £60,000.
Unrestricted
£
8,481
7,428
-
15,909
Restricted
£
223
-
6,023
6,246
Total
2022
£
8,704
7,428
6,023
22,155
Total
2021
£
3,435
6,306
30
9,771
Restricted
£
150
4,446
12,483
-
17,078
2022
36,234
36,234
Total
2022
£
36,234
22,350
26,950
360
85,894
Total
2021
£
28,547
28,764
17,416
504
75,231
2021
28,547
28,547

Page 11

Soul's Harbour Pentecostal Church Notes to the Accounts

8 Movement in funds

Restricted funds:
Restricted income funds:
Offerings/Donations
Ukraine Church
Grow Centre
Burundi Appeal
Grant for Grow
UK for Jesus
Clays Church
Rotary Club
Eli Stuart Texas Church
Total
Unrestricted funds:
General funds
Total funds
At 1 June
2021
-
-
1,482
(176)
6,760
-
-
-
-
8,066
13,533
21,599
Incoming
resources
(including
other
gains/losses)
£
1,450
2,045
6,023
196
-
4,323
73
350
1,845
16,305
76,846
93,151
Resources
expended
£
(1,450)
(2,045)
(1,995)
(20)
(4,978)
(4,323)
(73)
(350)
(1,845)
(17,078)
(68,816)
(85,894)
At 31 May
2022
£
-
-
5,510
-
1,782
-
-
-
-
7,292
21,564
28,856

Purposes and restrictions in relation to the funds:

Restricted funds: Offerings/Donations Ukraine Church Grow Centre Burundi Appeal Grant for Grow UK for Jesus Clays Church Rotary Club Eli Stuart Texas Church

9 Analysis of net assets between funds

Net current assets Unrestricted
funds
£
28,856
28,856
Total
£
28,856
28,856

Page 12

Soul's Harbour Pentecostal Church Notes to the Accounts

10 Reconciliation of net debt

Cash and cash equivalents
Net debt
At 1 June
2021
£
Cash flows
£
At 31 May
2022
£
21,599 7,257 28,856
21,599
21,599
7,257
7,257
28,856
28,856

Page 13

Soul's Harbour Pentecostal Church Statement of Cash flows for the year ended 31 May 2022

Cash flows from operating activities
Net income per Statement of Financial Activities
Adjustments for:
Dividends, interest and rents from investments
Other gains/losses
Decrease in trade and other receivables
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Dividends, interest and rents from investments
Net cash from investing activities
Net cash from financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
2022
£
7,257
(22,155)
-
-
(14,898)
22,155
22,155
-
7,257
21,599
28,856
2021
£
10,160
(9,771)
-
201
590
9,771
9,771
-
10,361
11,238
21,599
Components of cash and cash equivalents
Cash and bank balances 28,856 21,599
28,856 21,599

Page 14

Soul's Harbour Pentecostal Church Detailed Statement of Financial Activities

for the year ended 31 May 2022

Income and endowments from:
Donations and legacies
Offerings and tithes
Gifts
Gift Aid
Charitable activities
Grant for Grow
Other
Sundry income
Rent
Growth Centre gifts
Total income and endowments
Expenditure on:
Employee costs
Pastor salary and expenses
Premises costs
Church running costs
Mortgage payments
Church maintenance and repairs
General administrative costs,
including depreciation and
amortisation
Equipment expensed
Ministry expenses
Management and admin
Cafe expenses
Growth Centre expenses
Other expenses
Legal and professional costs
Audit/Independent examination
fees
Total of expenditure of other costs
Unrestricted
funds
2022
£
51,933
1,150
7,854
60,937
-
-
8,481
7,428
-
15,909
76,846
36,084
36,084
17,879
-
25
17,904
1,039
8,024
3,533
219
-
1,652
14,467
360
360
68,816
Restricted
funds
2022
£
1,757
8,302
-
10,059
-
-
223
-
6,023
6,246
16,305
150
150
4,446
-
-
4,446
2,195
3,365
369
-
6,554
-
12,483
-
-
17,078
Total funds
2022
£
53,690
9,452
7,854
70,996
-
-
8,704
7,428
6,023
22,155
93,151
36,234
36,234
22,325
-
25
22,350
3,234
11,389
3,902
219
6,554
1,652
26,950
360
360
85,894
Total funds
2021
£
49,405
13,221
6,234
68,860
6,760
6,760
3,435
6,306
30
9,771
85,391
28,547
28,547
9,483
12,933
6,348
28,764
2,232
6,328
4,073
-
3,459
1,324
17,416
504
504
75,231

Page 15

Soul's Harbour Pentecostal Church Detailed Statement of Financial Activities

Soul's Harbour Pentecostal Church
Detailed Statement of Financial Activities
Total expenditure
Net gains on investments
Net income
Net income before other
gains/(losses)
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
68,816
-
8,031
8,031
-
8,031
13,533
21,564
17,078
-
(774)
(774)
-
(774)
8,066
7,292
85,894
-
7,257
7,257
-
7,257
21,599
28,856
75,231
-
10,160
10,160
-
10,160
11,439
21,599

Page 16

Issuer

Deepblue Accountants Ltd

Document generated Tue, 28th Mar 2023 21:41:17 BST Document fingerprint b8142b199e81dcf76663f9a425e4e7f5

Parties involved with this document

Document processed

Party + Fingerprint

Thu, 30th Mar 2023 8:48:50 BST Thu, 30th Mar 2023 9:09:45 BST

David Flanders - Signer (48fc0307f8ce90446ca6240abb17f933) Sarah Glenister - Signer (7a3534e6c272e8081be4108b36c2db4d)

Audit history log

Date

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Thu, 30th Mar 2023 9:09:48 BST Thu, 30th Mar 2023 9:09:45 BST Thu, 30th Mar 2023 9:09:45 BST Thu, 30th Mar 2023 9:08:58 BST Thu, 30th Mar 2023 8:48:52 BST Thu, 30th Mar 2023 8:48:52 BST Thu, 30th Mar 2023 8:48:50 BST

Thu, 30th Mar 2023 8:48:50 BST Thu, 30th Mar 2023 8:47:48 BST Thu, 30th Mar 2023 8:47:37 BST Wed, 29th Mar 2023 13:37:12 BST Tue, 28th Mar 2023 21:53:43 BST Tue, 28th Mar 2023 21:53:41 BST

Tue, 28th Mar 2023 21:52:56 BST

Tue, 28th Mar 2023 21:52:50 BST Tue, 28th Mar 2023 21:52:50 BST Tue, 28th Mar 2023 21:51:32 BST

Sarah Glenister viewed the envelope. (82.152.48.160) The envelope has been signed by all parties. (82.152.48.160) Sarah Glenister signed the envelope. (82.152.48.160) Sarah Glenister viewed the envelope. (82.152.48.160) Document emailed to info@deepblueaccounts.com (52.56.160.218) David Flanders viewed the envelope. (109.149.184.52) Sent the envelope to Sarah Glenister (info@deepblueaccounts.com) for signing. (109.149.184.52) David Flanders signed the envelope. (109.149.184.52) David Flanders viewed the envelope. (109.149.184.52) David Flanders opened the document email. (87.248.114.142) David Flanders opened the document email. (104.28.30.142) Document emailed to soulsharb@aol.com (18.132.9.188) Sent the envelope to David Flanders (soulsharb@aol.com) for signing. (82.152.48.160) Automatic reminders for this envelope have been set to occur every 7 days (82.152.48.160) Sarah Glenister has been assigned to this envelope (82.152.48.160) David Flanders has been assigned to this envelope (82.152.48.160) Document generated with fingerprint 04ddd4b9cbd16e9dcdfb9032ad76d25f (82.152.48.160)

Tue, 28th Mar 2023 21:41:38 BST Document generated with fingerprint b8142b199e81dcf76663f9a425e4e7f5

(82.152.48.160) Tue, 28th Mar 2023 21:41:32 BST Document generated with fingerprint 05942e9f89d4ba27230ccb4e1cb73a77 (82.152.48.160) Tue, 28th Mar 2023 21:41:17 BST Envelope generated by Sarah Glenister (82.152.48.160)