**STOCKPORT CENTRE CHURCH 360 Life Church**
## **FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2023**
**CHARITY NUMBER 1051794**
**STOCKPORT CENTRE CHURCH - CHARITY NUMBER 1051794**
**FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
|**Contents**|**Pages**|
|---|---|
|Legal and administrative information|1|
|Trustees’ report|2 to 4|
|Independent examiner’s report|5|
|Statement of financial activities|6|
|Balance sheet|7|
|Notes to the financial statements|8 to 13|
**STOCKPORT CENTRE CHURCH - CHARITY NUMBER 1051794**
## **LEGAL & ADMINISTRATIVE INFORMATION**
## **Trustees (also known as the Church Council)**
Hayley Wall Susannah Smith Viktorija Faigt Kevin Todhunter Stephen Cole Elisabeth English Christine Stanford David Leslie
Chair Treasurer (Appointed 21[st] July 2023) Treasurer (Resigned 21[st] July 2023) (Resigned 31[st] August 2022)
## **Holding Trustees**
Stephen Cole, Hayley Wall, Kevin Todhunter
## **Principal Office**
Cale Green Life Centre 71 Adswood Road Cale Green Stockport Cheshire SK3 8HR
## **Reporting Accountants**
Scott Roberts Taylor & Co Central Buildings 5 – 7 Corporation Street Hyde Cheshire SK14 1AG
## **Bankers**
The Cooperative Bank, Stockport 1 St Peter’s Square Stockport Cheshire SK1 1NX
## **Website**
https://360life.church
_Page 1_
**STOCKPORT CENTRE CHURCH - CHARITY NUMBER 1051794**
**TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023**
## **1. Report of the trustees for the year ended 31 March 2023.**
The Trustees present their report, along with the Financial Statement of the charity for the year ended 31 March 2023.
The financial statement has been prepared on the basis of the accounting policies set out in the accompanying notes. The financial statements comply with the charity’s constitution, applicable law, and the requirements of the Statement of Recommended Practice (SORP).
## **Constitution and Objectives**
360Life Church (Stockport Centre Church) is an unincorporated registered charity, number 1051794, constituted under the Assemblies of God GB model constitution deed dated 2 April 2006.
The main objects of the charity are the advancement of the Christian faith, the relief of sickness and financial hardship, and the advancement of education.
## **Organisation and Structure**
The church is led by a leadership team, who appoint deacons and other leaders. The management of the church is vested in the Church Council. The Church Council members are the charity trustees. Appointment as a charity trustee is therefore automatic upon appointment to a position in the Church Council. The Church Council comprises of no fewer than three members and is constituted from the Leadership and Diaconate of the church.
The officers of the church are the chairman (who shall be the Lead Pastor, or in the absence of a Pastor, a member of the leadership team, as appointed by the Church Council), the Secretary and the Treasurer. The Church Council appoints the Secretary and Treasurer.
Decisions in the Church Council are made by simple majority open vote. In the event of a tie, the chairman has a casting vote.
For the purpose of holding the land and building assets of the church, the Church Council will appoint no fewer than 3 church members to be Holding Trustees. The Holding Trustees act on the directions of the Church Council.
## **Grant Making Policy**
The church aims to donate at least 10% of its unrestricted income to other charitable organisations.
## **2. Financial Review and Investment Policy**
There are no restrictions on the charity’s powers to invest. The investment strategy is set by the Church Council and takes account of the current demand for funds. The Church Council implements a low-risk strategy.
## **Reserves Policy**
It is the policy of the charity to retain unrestricted funds at a level which equates to approximately 3 months’ committed expenditure together with 6 months’ mortgage repayments. This provides sufficient funds to cover outgoings including staff salaries and committed regular grants. The remainder of the reserve is expended on the objectives of the charity.
_Page 2_
**STOCKPORT CENTRE CHURCH - CHARITY NUMBER 1051794**
**TRUSTEES’ REPORT CONTINUED FOR THE YEAR ENDED 31 MARCH 2023**
## **Risk Management**
Insurance needs are reviewed on a regular basis and advice is sought to ensure adequate insurance cover is in place at all times.
The church’s Health and Safety policy is reviewed regularly to bring it in line with current church activities and with best practice. The policy statements cover inter alia, safety responsibilities, safety information and training, risk assessments, fire precautions, first aid, safeguarding the welfare of children and young people, and competency and training of workers and accident reporting procedures. Church members as a whole (as opposed to just church employees/workers) are included within the scope of the policy to promote the principle that health and safety is everyone’s responsibility. Safety audits are carried out to ensure compliance.
In order to safeguard the welfare of children, young people and vulnerable adults, the church operates a Safeguarding policy. The church’s Safeguarding policy is reviewed periodically to maintain it in line with current church activities and with best safe working practice. All children’s/youth workers are carefully selected and screened and have an enhanced Disclosure and Barring Service (DBS) disclosure check or its equivalent. Others who have access to children, such as church trustees and other leaders are also carefully screened, including an enhanced DBS disclosure check or its equivalent. Checks are repeated every three years. Children’s workers are trained in safe practice and work within approved guidelines. Safeguarding awareness training is arranged as required.
The system of Internal Financial Control is designed to provide reasonable assurance against material misstatement or loss of funds. They include:
- Annual budget approved by the church council, which is regularly reviewed against actual performance.
- Annual consideration of financial results by the trustees and presentation of annual reports to the church membership at the AGM.
- Delegation of authority and segregation of duties.
- Annual Independent review of financial records.
## **3. Financial Results and Activities**
Income for the year was £118,483 (2021/22: £135,440). This included £17,040 in Gift Aid receipts and £1,356 from grants.
Expenditure was £113,788 (2021/22: £140,358).
During the year, the church awarded grants and benevolent gifts totaling £9,360 (2021/22: £8,460) to charitable organisations and missions, both in the UK and overseas. An additional £3,186 was donated in special offerings and directed to the specific charitable organisations and missions for which the special offerings were undertaken. The church also made financial gifts to various individuals in need, using restricted funds held for this purpose in the church’s Love Fund (£17).
The sum of £52,372 (2021/22: £58,758) was paid to trustees in respect of administrative, ministry and pastoral services rendered to the church, including salaries where applicable.
## **Building**
The building purchase was funded from special offerings, interest-free loans provided by church members, utilisation of the charity’s reserves and a £100,000 mortgage obtained from Kingdom Bank. The outstanding balance on the mortgage, as at March 2023, is £73,243.
## **Funds**
Current assets stood at £144,089 at 31st March 2023 (2022: £127,602), including reserves and restricted funds.
_Page 3_
**STOCKPORT CENTRE CHURCH - CHARITY NUMBER 1051794**
## **TRUSTEES’ REPORT CONTINUED FOR THE YEAR ENDED 31 MARCH 2023**
## **4. Volunteers & Donors**
Many of our donors give via online bank transfers and standing orders. The church is very appreciative of the financial support and the generous donations made by members.
Throughout the year, church members have also given voluntary service towards achieving the objectives of the charity. The charity is grateful for the sacrificial contribution of time and effort from every volunteer.
## **5. Statement of Trustees** ’ **Responsibilities**
Charity law requires the trustees to prepare financial statements for each financial year that give a true and fair view of the state of the financial affairs of the charity during the year and its financial position at the end of the year. In preparing those financial statements, the trustees are required to:
- Select suitable accounting policies and then apply them consistently.
- Make judgements and estimates that are reasonable and prudent.
- State whether applicable accounting standards and the Statement of Recommended Practice have been followed, subject to any departures disclosed and explained in the Financial Statement.
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping accounting records, which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the Financial Statement complies with the Charities Act. They are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
On behalf of the Trustees.
Hayley Wall Trustee
21[st] January 2024
_Page 4_
**STOCKPORT CENTRE CHURCH - CHARITY NUMBER 1051794**
## **INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES**
Report to the trustees of Stockport Centre Church (Charity no. 1051794) on the accounts for the year ended 31[st] March 2023, which are set out on pages 6 to 13.
## **Respective responsibilities of trustees and examiner**
The charity’s trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is our responsibility to:
- Examine the accounts under section 145 of the Charities Act;
- To follow the procedures laid down in the general directions given by the Charity Commission (under section 145 (5) (b) of the Charities Act): and
- To state whether particular matters have come to our attention.
## **Basis of Independent Examiner’s Statement**
Our examination was carried out in accordance with the general direction given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a true and fair view, and the report is limited to those matters set out in the statement below.
## **Independent Examiner’s statement**
In connection with our examination, no matter has come to our attention:
- (1) Which gives us reasonable cause to believe that in any material respect the requirements: -
- to keep accounting records in accordance with section 130 of the Charities Act: and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met: or
(2) To which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
**Scott Roberts Taylor & Co Accountants & Registered Auditors Central Buildings 5/7 Corporation Street Hyde Cheshire SK14 1AG**
**22[nd] January 2024**
_Page 5_
**STOCKPORT CENTRE CHURCH - CHARITY NUMBER 1051794**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023**
|**Restricted**
**Funds**
**Notes**
**£**
**Income Resources**
Donations
7
-
JRS Grant income
-
Earned income
8
-
Holiday funds income
-
Interest received
-
Grant income
1,356
Warm Space income
1,490
Outreach Fund income
2,000
Love Fund
2,720
Roof fund offerings
-
Miscellaneous income
-
7,566
**Outgoing Resources**
Church salaries, pensions & NIC
10
777
Donations
9
17
Administrative expenses
9
-
Repairs & Maintenance
-
Catering
-
Toddlers & Bits and Bots
-
Children & Youth
-
Safeguarding
-
Social events
-
Visiting speakers
-
Worship group
-
Love fund disbursement
68
Holiday funds distribution
-
Small groups
-
Special offerings distribution
-
New community outreach
1,223
Mortgage interest
-
Pastoral Costs
-
Leadership costs
-
Training and development
-
Who let the dads out
247
Distributions
1,658
Mission costs
-
Special Events
-
Loss on Disposal
-
Depreciation
-
3,990
**Net incoming resources**
3,576
**Transfer between funds**
1,250
Net movement in funds
4,826
**Total funds brought forward**
6.222
**Total funds carried forward**
11,048|**General**
**Funds**
**£**
109,113
-
1,528
100
90
-
-
-
-
-
86
110,917
51,595
3,108
11,987
1,888
946
278
561
234
189
1,715
103
-
-
12
3,186
-
4,374
2,374
1,203
320
-
-
9,360
461
248
15,656
109,798
1,119
(1,250)
(131)
417,617
417,486|**Total**
**Funds**
**2023**
**£**
109,113
-
1,528
100
90
1,356
1,490
2,000
2,720
-
86
118,483
52,372
3,125
11,987
1,888
946
278
561
234
189
1,715
103
68
-
12
3,186
1,223
4,374
2,374
1,203
320
247
1,658
9,360
461
248
15,656
113,788
4,695
-
4,695
423,839
428,534|**Total**
**Funds**
**2022**
**£**
128,089
32
1,029
4,621
44
-
-
-
-
1,530
95
135,440
58,758
2,672
9,798
25,097
663
754
558
197
437
1,956
672
33
5,036
-
5,140
1,211
4,373
386
31
40
-
-
8,460
-
-
13,804
140,358
(4,918)
-
(4,918)
428,757
423,839|
|---|---|---|---|
_Page 6_
## **STOCKPORT CENTRE CHURCH - CHARITY NUMBER 1051794**
## **BALANCE SHEET ON 31 MARCH 2023**
|**Notes**
**FIXED ASSETS**
Tangible assets
2
**CURRENT ASSETS**
Debtors
3
Cash at bank and in hand
4
**CREDITORS:**amounts
falling due within one year
5
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS**
**CURRENT LIABILITIES**
**CREDITORS:**amounts
falling due after more than
one year
6
**FUNDS OF THE CHARITY**
**Restricted Income Fund**
12
**Designated Fund**11
**General Fund**
11|**£**
18,149
125,940
144,089
(6,290)
290,735
126,751
|**2023**
**£**
360,896
137,799
498,695
(70,161)
428,534
11,048
417,486
428,534|**£**
18,632
108,970
127,602
(6,425)
299,581
118,036|**2022**
**£**
375,986
121,177
497,163
(73,324)
423,839
6,222
417,617
423,839|
|---|---|---|---|---|
Signed on behalf of all the Trustees on 21[st] January 2024 by:
Trustee – Hayley Wall
## **Charity No: 1051794**
_The notes on pages 8 to 13 form part of these financial statements_
_Page 7_
**STOCKPORT CENTRE CHURCH - CHARITY NUMBER 1051794**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **1 STATEMENT OF ACCOUNTING POLICIES**
These accounts have been prepared under the historic cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to the accounts.
The accounts have been prepared in accordance with the 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 of Ireland (FRS 102) issued on 16 July 2014 and with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and with the Charities Act 2011
The charity constitutes a public benefit entity as defined by FRS 102.
Irrecoverable VAT is charged to the SOFA as incurred.
## **1.1 INCOMING RESOURCES**
All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
No amounts are included in the financial statements for services and time donated by volunteers.
## **1.2. EXPENDITURE**
All expenditure is accounted for an accrual basis and has been included under headings that aggregate all costs relating to the same category. When costs cannot be directly attributed to particular headings, they have been allocated to activities on basis consistent with use of resources. Support costs include allocation of the administrator’s salary cost relating to directly supporting the objects of the charity.
## **1.3 FUNDS OF THE CHARITY**
General funds are unrestricted funds which are available for use at the discretion of the trustees in further and of the general objectives of the charity, which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes and also may include funds not really available for immediate use.
Restricted funds are to be used in accordance with specific restrictions imposed by donors, or which have been raised for particular purposes.
_Page 8_
**STOCKPORT CENTRE CHURCH - CHARITY NUMBER 1051794**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **2. TANGIBLE ASSETS**
Tangible fixed assets costing more than £100 are capitalised and included on fixed assets at cost.
Depreciation is provided on all tangible assets.
Depreciation is at rates calculated to write off the cost on a straight-line basis over their expected useful economic life.
Depreciation charges commences in the year following year of “Asset Purchase” or “brought into Use” at the following rates: -
Short term and lease over life of lease Building over 50 years Fixtures and fittings over 10 years Equipment over 5-10 years Computer Equipment over 3 years Motor vehicles over 4 years
Expenditure on computer software is written off as incurred.
## **TANGIBLE FIXED ASSETS**
|**Land**
**Cost:**
At 1 April 2022
Additions
Disposal
At 31 March 2023
**Depreciation:**
At 1 April 2022
Charge for Year
Elimination on disposal
At 31 March 2023
**Net book value:**
At 31 March 2022
At 31 March 2023|**Computer**
**Fixtures**
**& Buildings Equipment Fittings &**
**Equipment**
**£**
**£**
**£**
438,008
24,016
38,340
- -
814
-(5,424) (15,143)
438,008 18,592 24,011
78,841
13,780
31,757
8,760
5,078
1,818
-
(5,424) (14,895)
87,601
13,434
18,680
359,167
10,236
6,583
350,407
5,158
5,331|**Total**
**£**
500,364
814
(20,567)
480,611
124,378
15,656
(20,319)
119,715
375,986
360,896|
|---|---|---|
||||
_Page 9_
**STOCKPORT CENTRE CHURCH - CHARITY NUMBER 1051794**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
|**3. DEBTORS**
Prepayments & Accrued Income
Other Debtor
**4. CASH AT BANK AND IN HAND**
Cash at bank
Cash in hand
**5. CREDITORS:**amounts falling due within one year
Mortgage
Credit Card
PAYE/NIC
Pension
Accruals and deferred income
**6. CREDITORS:**amounts falling due after one year
Mortgage
**7. DONATIONS & LEGACIES**
General offering
Special offering
Payroll giving
Community Buildings Gift Aid
Gift Aid
**8. EARNED INCOME**
Fundraising schemes
Social events
Bibs and bots income
Toddlers’ income|**2023**
**£**
679
17,470
18,149
**2023**
**£**
125,940
-
125,940
**2023**
**£**
3,082
-
499
369
2,340
6,290
**2023**
**£**
70,161
70,161
**2023**
**£**
87,753
2,390
1,500
430
17,040
109,113
**2023**
**£**
187
30
322
989
1,528|**2022**
**£**
894
17,738
18,632
**2022**
**£**
108,785
185
108,970
**2022**
**£**
3,082
-
620
723
2,000
6,425
**2022**
**£**
73,324
73,324
**2022**
**£**
104,631
4,220
1,500
-
17,738
128,089
**2022**
**£**
369
393
173
94
1,029|
|---|---|---|
||||
_Page 10_
**STOCKPORT CENTRE CHURCH - CHARITY NUMBER 1051794**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **9. ANALYSIS OF OUTGOING RESOURCES**
||**Restricted**|**General**|**Total**|**Total**|
|---|---|---|---|---|
||**Funds**|**Funds**|**Funds**|**Funds**|
||||**2023**|**2022**|
||**£**|**£**|**£**|**£**|
|**Donations:**|||||
|AOG contribution|-|2,928|2,928|2,582|
|Mission giving|-|180|180|-|
|Love Gift|17|-|17|90|
|**Total**|17|3,108|3,125|2,672|
|**Administrative Expenses:**|||||
|Insurance|-|1,242|1,242|1,507|
|Utilities|-|3,294|3,294|477|
|Communications|-|180|180|251|
|Mileage & travel claims|-|405|405|365|
|Administrator reallocation|-|1,805|1,805|1,908|
|Accountancy|-|1,450|1,450|1,110|
|Website & computer costs|-|1,851|1,851|2,467|
|Equipment|-|26
|26|20|
|Cleaning|-|362|362|176|
|Printing, postage & stationery|-|212|212|257|
|Legal & professional fees|-|26|26|-|
|Subscriptions|**-**|1,134|1,134|1,260|
|**Total**|-|11,987|11,987|9,798|
|**Details of certain items of Expenditure:**|||||
||||**2023**|**2022**|
||||**£**|**£**|
|**Trustees Expenses**|||||
|Number of trustees who were paid expenses|||0|0|
|**Fees for examination of audit**|||||
|Independent examiners fees|||1,170|1,000|
_Page 11_
**STOCKPORT CENTRE CHURCH - CHARITY NUMBER 1051794**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **10. PAID EMPLOYEES**
||||**2023**|**2022**|
|---|---|---|---|---|
||||**£**|**£**|
|**Staff Costs**|||||
|Gross wages, salaries and benefits in kind|||50,530|52,249|
|Employers National Insurance costs|||-|-|
|Pension Costs|||1,842|6,509|
|**Total**|||52,372|58,758|
|**Average number of**|||||
|**Employees in the year**|||||
||||**2023**|**2022**|
|The parts of the charity in which the|||||
|employees work|Church||4|4|
|**Total**|||4|4|
|**Defined Contribution Pension Scheme**|||||
||||**2023**|**2022**|
||||**£**|**£**|
|The costs of the scheme to the charity for the year|||3,870|6,509|
|The amount of any contributions outstanding at the year-end|||339|723|
|The amount of any contribution prepaid at|the year-end||**-**|**-**|
|**FUNDS OF THE CHARITY**|||||
||**At 1 April Surplus/**||**Transferred**|**At 31 March**|
||**2022**|**(Deficit)**|**Between Funds**|**2023**|
|**Restricted Income Fund**|6,222|3,576|1,250|11,048|
|**General & Designated Fund**|417,617|1,119|(1,250)|417,486|
||423,839|4,695|-|428,534|
## **11. FUNDS OF THE CHARITY**
_Page 12_
**STOCKPORT CENTRE CHURCH - CHARITY NUMBER 1051794**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **12. RESTRICTED FUND**
|Love Fund
Sabbatical Fund
WLTDO
GM Wellbeing
Warm spaces
Travel Reserve
**Total**
|**2023**
**£**
3,643
6,250
134
(51)
858
214
11,048|**2022**
**£**
1,008
5,000
-
-
-
214
6,222|
|---|---|---|
_Page 13_