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2023-05-31-accounts

Soul's Harbour Pentecostal Church

Charity No. 1050246

Trustees' Report and Unaudited Accounts

31 May 2023

Soul's Harbour Pentecostal Church Contents

Pages
Trustees' Annual Report 2 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Statement of Cash flows 15
Notes to the Accounts 8 to 14
Detailed Statement of Financial Activities 16 to 17

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 2023.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1050246

Principal Office

12 High Street Camelford Cornwall PL32 9PQ

Trustees

The following trustees served during the year:

M.E. Banton P. Besley R. Davies D. Flanders A. Quinn A.M. Sayers

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.

Page 2

Soul's Harbour Pentecostal Church Trustees Annual Report

• Activities with younger children include Sunday School and Xbi a learning-based club which teaches morals and Bible knowledge to 5-11 year olds.

• We organise and facilitate a group from the churches of Camelford taking an assembly in the primary school fortnightly under the national “Open the Book” programme.

• 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.

• The Church also helps support two area youth workers at £50 a month each.

• The Church supports a Christian worker from the U.K. in Burundi at £50 a month.

• The Church continues to provide a range of Christian activities and services for its members and community.

• 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 a 9% decrease this year and total funds carried forward are down by £9.5k from 2022. Charity running costs dropped from £22k to £18k.

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

The income to the charity from lettings has increased slightly during the year.

Our subscription to the Assemblies of God was raised during the year to meet the required 3%.

Spending on Equipment rose from 3k to nearly 10k this is largely due to investment in a new PA system.

Mr. Matt Banton has started ministry training with the Assemblies of God and the Church is completely underwriting the cost of this for the 3 year period including expenses.

The Church received a donation from a Church in the USA which was spent on iPads for the worship team. Two other gifts from a Non-Profit organisation were sent to the church for the support of the Grow Centre and the Bantons.

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 there. Also £1200 was spent on 2 cows for Burundi.

The Church has given financial aid to one of its members that fell ill during this year at £30 a week.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Mr. Paul Besley and Mr Matthew Banton both became Trustees 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 charity’s assets according to the AOG Model Deed.

Page 3

Soul's Harbour Pentecostal Church Trustees Annual Report

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

David Flanders (Mar 16, 2024, 3:29pm) D. Flanders Trustee 22 March 2024

Page 4

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 2023.

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').

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 17, 2024, 2:02pm)

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

91 Mayflower Street Plymouth Devon PL1 1SB 22 March 2024

Page 5

Soul's Harbour Pentecostal Church Statement of Financial Activities

for the year ended 31 May 2023

Notes
Income and endowments
from:
Donations and legacies
3
Other
4
Total
Expenditure on:
Other
5
Total
Net gains on investments
Net (expenditure)/income
Transfers between funds
Net (expenditure)/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
2023 2023 2023 2022
£ £ £ £
58,129 6,378 64,507 70,995
13,402 4,207 17,609 22,156
71,531 10,585 82,116 93,151
77,140 14,511 91,651 85,894
77,140 14,511 91,651 85,894
- - - -
(5,610) (3,925) (9,535) 7,257
- - - -
(5,610) (3,925) (9,535) 7,257
(5,610) (3,925) (9,535) 7,257
21,564 7,292 28,856 21,599
15,954 3,367 19,321 28,856

Page 6

Soul's Harbour Pentecostal Church Balance Sheet

at 31 May 2023

at 31 May 2023
Charity No. 1050246 2023 2022
£ £
Current assets
Cash at bank and in hand 19,321 28,856
19,321 28,856
Net current assets 19,321 28,856
Total assets less current liabilities 19,321 28,856
Net assets excluding pension asset or liability 19,321 28,856
Total net assets 19,321 28,856
The funds of the charity
Restricted funds 7
Restricted income funds 3,367 7,292
3,367 7,292
Unrestricted funds 7
General funds 15,954 21,564
15,954 21,564
Reserves 7
Total funds 19,321 28,856

Approved by the trustees on 22 March 2024

And signed on their behalf by:

David Flanders (Mar 16, 2024, 3:29pm) D. Flanders Trustee 22 March 2024

Page 7

Soul's Harbour Pentecostal Church Notes to the Accounts

for the year ended 31 May 2023

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 8

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 9

Soul's Harbour Pentecostal Church Notes to the Accounts

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.

Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

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 10

Soul's Harbour Pentecostal Church Notes to the Accounts

2 Statement of Financial Activities - prior year

2
Statement of Financial Activities - prior year
Income and endowments from:
Donations and legacies
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
Other income
Sundry income
Rent
Growth Centre gifts
Unrestricted
£
49,575
720
7,834
58,129
Unrestricted
£
4,141
9,261
-
13,402
Unrestricted
funds
2022
£
60,937
15,909
76,846
68,816
68,816
8,031
8,031
8,031
13,533
21,564
Restricted
£
457
5,921
-
6,378
Restricted
£
497
-
3,710
4,207
Restricted
funds
2022
£
10,059
6,246
16,305
17,078
17,078
(774)
(774)
(774)
8,066
7,292
Total
2023
£
50,032
6,641
7,834
64,507
Total
2023
£
4,638
9,261
3,710
17,609
Total funds
2022
£
70,996
22,155
93,151
85,894
85,894
7,257
7,257
7,257
21,599
28,856
Total
2022
£
53,689
9,452
7,854
70,995
Total
2022
£
8,705
7,428
6,023
22,156

Page 11

Soul's Harbour Pentecostal Church Notes to the Accounts

5 Other expenditure

5
Other expenditure
Employee costs
Premises costs
General administrative costs
Legal and professional costs
6
Staff costs
Salaries and wages
Unrestricted
£
32,222
17,262
27,224
432
77,140
Restricted
£
-
1,457
13,054
-
14,511
2023
32,222
32,222
Total
2023
£
32,222
18,719
40,278
432
91,651
Total
2022
£
36,234
22,350
26,950
360
85,894
2022
36,234
36,234

No employee received emoluments in excess of £60,000.

Page 12

Soul's Harbour Pentecostal Church Notes to the Accounts

7 Movement in funds

At 1 June
2022
Restricted funds:
Restricted income funds:
Paul's Cows
-
Ukraine Church
-
Grow Centre
5,510
Christmas Collection
-
Grant for Grow
1,782
4Front Theatre
-
Clays Church
-
Ladies Conference
-
Total
7,292
Unrestricted funds:
General funds
21,564
Total funds
28,856
Purposes and restrictions in relation to the funds:
Restricted funds:
Paul's Cows
Ukraine Church
Grow Centre
Christmas Collection
Grant for Grow
4Front Theatre
Clays Church
Ladies Conference
8
Analysis of net assets between funds
Incoming
resources
(including
other
gains/losses
)
£
1,187
2,500
5,710
235
-
652
62
240
10,585
71,531
82,116
Resources
expended
£
(1,200)
(2,861)
(9,756)
-
-
(632)
(62)
-
(14,511)
(77,140)
(91,651)
At 31 May
2023
£
(13)
(361)
1,464
235
1,782
20
-
240
3,367
15,954
19,321
Net current assets Unrestricted
funds
£
19,321
19,321
Total
£
19,321
19,321

Page 13

Soul's Harbour Pentecostal Church Notes to the Accounts

9 Reconciliation of net debt

Cash and cash equivalents
Net debt
At 1 June
2022
£
Cash flows
£
At 31 May
2023
£
28,856 (9,535) 19,321
28,856
28,856
(9,535)
(9,535)
19,321
19,321

Page 14

Soul's Harbour Pentecostal Church Statement of Cash flows for the year ended 31 May 2023

Cash flows from operating activities
Net (expenditure)/income per Statement of Financial Activities
Adjustments for:
Dividends, interest and rents from investments
Other gains/losses
Net cash used in operating activities
Cash flows from investing activities
Dividends, interest and rents from investments
Net cash from investing activities
Net cash from financing activities
Net (decrease)/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
2023
£
(9,535)
(17,609)
-
(27,144)
17,609
17,609
-
(9,535)
28,856
19,321
2022
£
7,257
(22,155)
-
(14,898)
22,155
22,155
-
7,257
21,599
28,856
Components of cash and cash equivalents
Cash and bank balances 19,321 28,856
19,321 28,856

Page 15

Soul's Harbour Pentecostal Church Detailed Statement of Financial Activities

for the year ended 31 May 2023

Income and endowments from:
Donations and legacies
Offerings and tithes
Gifts
Gift Aid
Other
Sundry income
Rent
Growth Centre gifts
Total income and endowments
Expenditure on:
Employee costs
Pastor Salary and Expenses
Premises costs
Church Running Costs
Church Repairs and Maintenance
General administrative costs,
including depreciation and
amortisation
Bank Charges
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
Total expenditure
Net gains on investments
Unrestricted
funds
2023
£
49,575
720
7,834
58,129
4,141
9,261
-
13,402
71,531
32,222
32,222
17,262
0
17,262
60
9,947
9,458
4,369
-
915
2,475
27,224
432
432
77,140
77,140
-
Restricted
funds
2023
£
457
5,921
-
6,378
497
-
3,710
4,207
10,585
-
-
1,119
338
1,457
15
-
6,066
213
-
6,760
-
13,054
-
-
14,511
14,511
-
Total funds
2023
£
50,032
6,641
7,834
64,507
4,638
9,261
3,710
17,609
82,116
32,222
32,222
18,381
338
18,719
75
9,947
15,524
4,582
-
7,675
2,475
40,278
432
432
91,651
91,651
-
Total funds
2022
£
53,689
9,452
7,854
70,995
8,705
7,428
6,023
22,156
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
85,894
-

Page 16

Soul's Harbour Pentecostal Church Detailed Statement of Financial Activities

Net (expenditure)/income
Net (expenditure)/income before
other gains/(losses)
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
(5,610)
(5,610)
-
(5,610)
21,564
15,954
(3,925)
(3,925)
-
(3,925)
7,292
3,367
(9,535)
(9,535)
-
(9,535)
28,856
19,321
7,257
7,257
-
7,257
21,599
28,856

Page 17

Issuer

Issuer Deepblue Accountants Ltd Document generated Wed, 13th Mar 2024 15:12:19 UTC Document fingerprint 555c7a9d4168f18e12b2dd1215c3ceca

Parties involved with this document

Document processed

Party + Fingerprint

Sat, 16th Mar 2024 15:29:42 UTC Sun, 17th Mar 2024 14:02:36 UTC

David Flanders - Signer (320494ffb994eb1f2dad6d033c9a7ff9) Sarah Glenister - Signer (d8467a77e35f152743aa3d825257554e)

Audit history log

Date

Sun, 17th Mar 2024 14:02:36 UTC Sun, 17th Mar 2024 14:02:36 UTC Sun, 17th Mar 2024 14:02:36 UTC Sun, 17th Mar 2024 14:02:19 UTC Sun, 17th Mar 2024 0:06:20 UTC Sun, 17th Mar 2024 0:05:49 UTC Sat, 16th Mar 2024 15:30:13 UTC Sat, 16th Mar 2024 15:29:45 UTC Sat, 16th Mar 2024 15:29:43 UTC Sat, 16th Mar 2024 15:29:42 UTC

Sat, 16th Mar 2024 15:29:42 UTC Sat, 16th Mar 2024 15:28:48 UTC Sat, 16th Mar 2024 15:27:32 UTC Sat, 16th Mar 2024 15:27:18 UTC Sat, 16th Mar 2024 15:18:39 UTC Sat, 16th Mar 2024 15:18:36 UTC Wed, 13th Mar 2024 15:39:05 UTC Wed, 13th Mar 2024 15:14:59 UTC Wed, 13th Mar 2024 15:14:56 UTC

Action Sarah Glenister viewed the envelope (82.152.48.160) This 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) Sarah Glenister opened the document email. (213.94.17.98) Sarah Glenister opened the document email. (213.94.17.98) David Flanders opened the document email. (87.248.115.85) Document emailed to info@deepblueaccounts.com (35.178.231.180) David Flanders viewed the envelope (167.98.155.185) Sent the envelope to Sarah Glenister (info@deepblueaccounts.com) for signing (167.98.155.185) David Flanders signed the envelope (167.98.155.185) David Flanders viewed the envelope (167.98.155.185) David Flanders viewed the envelope (167.98.155.185) David Flanders opened the document email. (87.248.114.142) Document emailed to soulsharb@aol.com (3.8.164.202) Sent David Flanders a reminder to sign the document. () David Flanders opened the document email. (172.224.224.9) Document emailed to soulsharb@aol.com (13.40.158.166) Sent the envelope to David Flanders (soulsharb@aol.com) for signing (82.152.48.160)

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(82.152.48.160) Wed, 13th Mar 2024 15:13:53 UTC Sarah Glenister has been assigned to this envelope (82.152.48.160) Wed, 13th Mar 2024 15:13:53 UTC David Flanders has been assigned to this envelope (82.152.48.160) Wed, 13th Mar 2024 15:13:02 UTC Document generated with fingerprint 000400ff58a46a1910f4a18eb467ec0c (82.152.48.160) Wed, 13th Mar 2024 15:12:56 UTC Document generated with fingerprint 92dea1847be892ce84ccaa012dcaf73c (82.152.48.160) Wed, 13th Mar 2024 15:12:51 UTC Document generated with fingerprint 555c7a9d4168f18e12b2dd1215c3ceca (82.152.48.160) Wed, 13th Mar 2024 15:12:40 UTC Document generated with fingerprint f6ffabb55aed147aa02f9e9a68bacf0b (82.152.48.160) Wed, 13th Mar 2024 15:12:19 UTC Envelope generated by Sarah Glenister (82.152.48.160)