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2023-12-31-accounts

CITY LIFE CHURCH - SUNDERLAND

ANNUAL REPORT AND FINANCIAL STATEMENTS For the year ended 31 December 2023

Charity Number 1052114

CITY LIFE CHURCH – SUNDERLAND

Trustees Annual Report

For year ended 31 December 2023

The Trustees are pleased to present their annual report together with the financial statements of the charity for the year ended 31 December 2023.

The financial statements comply with the Charities Act 2011, the Memorandum and Articles of Association, and 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).

Our purposes and activities

The objects of the church are for the benefit of the public:

Review of the last year

The church has seen significant growth throughout 2023 with average Sunday attendance at 265. This is an increase of over 40% from the previous year. This has been possible by introducing an additional Sunday morning service to accommodate the growth.

Mid-week engagement is healthy with 149 people actively involved in connect groups and an average of 60 people taking part in monthly mid-week prayer meetings.

A weekly Youth Connect and monthly youth service was launched in September with 20 teenagers regularly engaging with this. Training and support for the team leading this has been in place throughout the year and is facilitating their development as leaders.

Our leadership development community has been active throughout the year with over 40 people involved in monthly training sessions, coaching group’s and external leadership input from guest speakers.

In February 2023 a Senior Leadership team was formed that included Jonny & Amy Clarke as Senior Pastors along with Julian & Kerina Clark. This team meets regularly and carries the responsibility for the strategic vision and mission of the Church.

A review of the Board of Trustees took place in the autumn and provided clarity on overall purpose and responsibility as well as defining some individual roles. A standard agenda is in place for meetings with an agreed annual cadence of additional items. Updated financial reporting has been aided by the transition to online software.

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CITY LIFE CHURCH – SUNDERLAND

Trustees Annual Report For year ended 31 December 2023

Achievements and performance

1. Sunday & mid-week Church gatherings

Sunday services continue to be a highlight with weekly new attendees and families joining us. With the expansion to two services, we have seen growth across all teams, from kids church to host team and worship team.

2. Foodbank

Each week we run a foodbank on a Wednesday from 1pm to 3pm and then on a Friday from 10am to 12 noon using a team of around 12 volunteers. In 2023, we can report that 1229 clients (In 2022: 761) have visited our foodbank representing 2866 people (In 2022: 1559). The total number of meals provided was 26199 (In 2022: 14031). Continuing the trend seen from 2021 to 2022, 2023 has again seen extensive increase in this area.

A second location for foodbank was opened in September 2023 based in Ryhope. This midweek session runs on Wednesdays alongside a Toddler Group.

3. Toddler Groups

We currently run a Toddler Group on a Wednesday from 10.30am to 12 noon with an average attendance of 22 children (pre-school). A second group now runs concurrently in Ryhope alongside the foodbank and we are very grateful to all the volunteers that make this possible. On average, each week we connect with 37 families through Toddler group sessions.

Both Foodbank and Toddler Groups now come under the umbrella term of Community Hubs. The combined impact of our Millfield location and the new Ryhope hub means we serve on average 83 families, with 120 people in total accessing the Hubs each week.

4. Love Christmas/Love Week

Each Christmas we raise funds within our church congregation to support families in need around the city. We partner with local primary schools using their knowledge and awareness of those families who are in need. As a church community we raised sufficient finance to give away 115 hampers with a monetary value of approx £3,000.

During the year we also host at least 2 further outreach weeks which include events for the local community (afternoon tea / Easter Egg hunt etc). The aim of these weeks is to support community needs and provide activities for local families. Fundraising forms part of this with support given to local Charities including Grace House and Love Amelia.

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CITY LIFE CHURCH – SUNDERLAND

Trustees Annual Report

For year ended 31 December 2023

5. Jericho Café

A recent initiative that has been running since October and provides a warm space on Friday mornings within the church coffeeshop. Barista drinks are served along with cakes and refreshments on a pay what you can basis. Engagement with this is now growing as it is timed to run alongside the Friday morning foodbank session.

Financial review

City Life Church – Sunderland is funded by donations and a small amount of fees for charitable services. The total income for the year was £171,631 (2022: £145,145) being an increase of 18 per cent. This income is allocated across respective funds on the Statement of Financial Activities in accordance with the Statement of Recommended Practice (SORP)

The Statement of Financial Activities for the year ended 31 December 2023, shows a surplus across all funds of £29,937 (2022: £25,143).

The Balance Sheet at 31 December 2023 shows total funds carried forward of £760,385 (2022: £730,448) of which there are £11,336 restricted funds (2022: £9,986).

Looking at the next 12 months, financially there is a fair degree of optimism that cash reserves will remain at a very acceptable level.

Reserves policy

The reserves policy for City Life Church is to aim to hold at least three months’ general offerings as cash reserves. This is in addition to any fixed assets held and used for the church’s aims and purposes. This level of reserves should ensure that at any time of the year the Church is not required to borrow funds on overdraft from its bankers. Any additional reserves are generated with a view to fund longer-term projects.

Preparation of the accounts on a going concern basis

The financial statements have been prepared on a going concern basis. The Trustees have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. The Trustees have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Plans for future periods

To ensure the church continue to grow in its ability to effectively outwork its mission various projects are planned for 2024 to achieve this aim. For example:

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CITY LIFE CHURCH – SUNDERLAND

Trustees Annual Report

For year ended 31 December 2023

Reference and administrative details

Charity number 1052114 Operational address 170 Hylton Road, Sunderland Tyne & Wear, SR4 7YA Our advisors Solicitors Geldards 21-22 Burns Street, Ilkeston Derbyshire DE7 8AA Independent Jim Dodds Examiner 33 The Glebe Stannington NE61 6HW Bankers HSBC Bank PLC Virgin Money, Jubilee House Unit 49-51 The Bridges Gosforth Shopping Centre Newcastle upon Tyne Market Square NE3 4PL Sunderland, SR1 3LE The Charity Bank Ltd Kingdom Bank Ltd 194 High Street Ruddington Fields Country Park Tonbridge Mere Way, Ruddington Kent, TN9 1BE Nottingham, NG11 6JS

Trustees and key management personnel

The trustees and officers serving during the year and since the year end were as follows:

Trustees Mrs Kerina Clark Chair Appointed 14 Feb. 2023 Mr Jonathan Clarke Mr Ben Dowding Mr Kevin Clarke Mr Lewis Collins Mr Simon Hilton Mr Ed Morrow

Appointed 14 Feb. 2023

4

CITY LIFE CHURCH – SUNDERLAND

Trustees Annual Report

For year ended 31 December 2023

Key management personnel

Senior Minister Mr Jonathan Clarke

Structure, governance and management

Governing documents

Constitution and trust deed adopted 10 August 1993, as amended on 17 February 1997 and 11[th] September 2002.

Appointment of Trustees

The Church is managed by the Church Council, which compromise the Minister and duly appointed or elected leaders of the Church. Trustees are nominated by the Senior Minister and appointed by the Church Council from time to time. The Church Council appoints Holding Trustees for the purpose of holding the land and buildings of the Church who act on the directions of the Church Council.

Organisation

The Trustees meet at least four times in each year and deal with the administration of the charity encompassing the strategic vision, financial accountability, risk management, and any other administrative business of the Church. The operational management of the organisation is undertaken by the paid staff team and other Trustees and volunteers.

Risk management

The Trustees have conducted a review of the major risks to which the charity is exposed and systems have been established to mitigate those risks including the implementation of procedures for authorisation of all transactions and projects and for ensuring the consistent quality of the delivery of all operational aspects of the charity. These procedures are periodically reviewed to ensure that they still meet the needs of the charity.

Statement of Trustee Responsibilities

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

The Charity Trustees are required to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and of incoming resources and application of resources. In preparing financial statements, the Trustees are required to:

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CITY LIFE CHURCH – SUNDERLAND

For year ended 31 December 2023

Trustees Annual Report

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity. 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.

Approved by the Trustees on 16 April 2024 and signed on their behalf by:

Mrs Kerina Clark (Chair) ………………

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CITY LIFE CHURCH - SUNDERLAND

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES

For the year ended 31 December 2023

I report on the financial statements of City Life Church - Sunderland for the year ended 31 December 2023, which are set out on pages 8 to 19.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 ("the Charities Act) and that an independent examination is needed.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

Basis of independent examiner's statement

My examination was carried out in accordance with general Directions 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

Independent examiner's statement

In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:

the accounting records were not kept in accordance with section 130 of the Charities Act; or

I have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Jim Dodds 33 The Glebe NE61 6HW Date: 16 April 2024

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CITY LIFE CHURCH - SUNDERLAND

STATEMENT OF FINANCIAL ACTIVITIES

For the year ended 31 December 2023

6
Other trading activities
7
8
Expenditure on:
9
10
Total income
Total funds brought forward
Net income/(expenditure) and net
movement of funds
Raising funds
Operation of the charity
Notes
Charitable activities
Investments
Total funds carried forward
Donations and legacies
Reconciliation of funds
Income from:
Total expenditure		 Unrestricted
Funds
£
129,641
16,554
51
146,246
174
117,486
117,659
28,587
720,462
749,049		 Restricted
Funds
£
25,385
-
-
25,385
4,765
19,269
24,034
1,350
9,986
11,336		 Total
2023
£
155,026
16,554
51
171,631
4,939
136,755
141,693
29,937
730,448
760,385		 Total
2022
£
127,282
17,811
52
145,145
6,334
113,668
120,002
25,143
705,305
730,448

The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities

The notes on pages 10 to 19 form an integral part of these accounts.

8

Charity Number 1052114

CITY LIFE CHURCH - SUNDERLAND

BALANCE SHEET

As at 31 December 2023

rn)
2
[e)		 £ Total
2023
£		 £ Total
2022
£
Fixed assets
Tangible assets
18		 869,915 836,396
Total fixed assets
Current assets		 869,915 836,396
Debtors
19
Cash at bank and in hand
20		 3,781
65,842		 1,730
71,122
Total current assets
Creditors:amounts falling due within
one year
21		 69,623
( 21,705 )		 72,853
( 13,435 )
Net current assets 47,918 59,418
Total assets less current liabilities
Creditors:amounts falling due after
more than oneyear
22		 ( 157,448 ) 917,833 ( 165,366 ) 895,814
Total net assets or liabilities 760,385 730,448
Funds of the charity
Unrestricted income funds
Restricted income funds		 749,049
11,336		 720,462
9,986
Total funds 760,385 730,448

The notes on pages 10 to 19 form an integral part of these accounts.

These financial statements were approved by the Board on: 16 April 2024

and are signed on its behalf by: Mrs Kerina Clark Chair

9

CITY LIFE CHURCH - SUNDERLAND

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2023

1 Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

2 Basis of accounting

2.1 Basis of preparation

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

The accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) �Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

City Life Church - Sunderland meets the definition of a public benefit entity under FRS 102.

2.2 Preparation of the accounts on a going concern basis

The financial statements have been prepared on a going concern basis. In making their assessment the Trustees have reviewed and considered relevant information, including their annual budget and future cash flows. The Trustees are of the view that the immediate future of the charity for the next 12 months is secure and that on this basis the charity is a going concern.

3 Income

3.1 Recognition of income

Income is recognised when the charity has entitlement to the resources, any performance conditions attached to the item(s) of income have been met, it is more likely than not that the resources will be received and the monetary value can be measured with sufficient reliability

3.2 Offsetting

There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by FRS102 SORP or FRS102.

3.3 Grants and donations

Income from government and other grants, whether �capital�grants or �revenue�grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of the provision of a specified service is deferred until the criteria of income recognition are met.

3.4 Volunteer help

The value of volunteer help received is not included in the accounts but is described in the trustees' annual report.

10

CITY LIFE CHURCH - SUNDERLAND

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023

3.5 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 bank.

3.6 Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.

4 Expenditure and liabilities

4.1 Liability recognition

Liabilities are recognised when it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

4.2 Charitable activities

Expenditure on charitable activities includes the costs of the Ministry and other activities undertaken to further the purposes of the charity and their associated support costs.

4.3 Governance and support costs

Support costs have been allocated between governance cost and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources.

4.4 Irrecoverable VAT

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

4.5 Creditors

The charity has creditors which are measured at settlement amounts less any trade discounts.

4.6 Provisions for liabilities

A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date.

11

CITY LIFE CHURCH - SUNDERLAND

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2023

5 Assets

5.1 Tangible fixed assets for use by the charity

Individual fixed assets costing £250 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows:

Freehold land and buildings Computers and other equipment Fixtures and fittings Capital fees and expenses

No depreciation Straight line over three years Straight line over three years Straight line over three years

12

CITY LIFE CHURCH - SUNDERLAND

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2023

Analysis of income
6
Donations and legacies
General fund
Vision fund
Impact fund
7
Other trading activities
Coffee shop
8
Income from investments
Toddlers & Play Cafe
Offerings
Offerings (gift aid reclaimable)
Miscellaneous
Offerings
Bank interest
Gift aid
Room hire
Offerings (gift aid reclaimable)
Offerings
Offerings (gift aid reclaimable)
Legacy		 Unrestricted
Funds
£
42650
66011
-
-
-
-
20,980
129,641
8,618
4,781
-
1,229
1,926
16,554
51
51		 Restricted
Funds
£
-
-
6,947
11,622
5,477
1,339
-
25,385
-
-
-
-
-
-
-
-		 Total
2023
£
42,650
66,011
6,947
11,622
5,477
1,339
20,980
155,026
8,618
4,781
-
1,229
1,926
16,554
51
51		 Total
2022
£
27,856
66,363
5,240
1,860
6,207
1,154
18,602
127,282
8,730
5,019
2,000
135
1,928
17,811
52
52

Income was £171,631 (2022: £145,145) of which £146,246 was unrestricted or designated (2022: £130,684) and £25,385 was restricted (2022: £14,461)

13

CITY LIFE CHURCH - SUNDERLAND

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2023

Analysis of expenditure on charitable activities

9
Donations made
10 Operation of the church
Salary, pension and NI
Ministry costs
Governance costs
Guest Speakers
Furniture and furnishings
Capital costs
Accommodation
Repairs and maintenance
Depreciation / loss on disposal
Legal fees & bank charges
Expenses
Water rates
Children and youth ministry
Computer equipment and software
Management and administration
Delivery charges
Equipment general
General provisions
Salary costs
Little Treasures/Play Café
Cleaning
Employers NI
Training, Development & Discipleship
Independent examiner's fees for reporting on
the accounts
Conference and seminar expenses
Donations for Mission support
Other donations
Light and heat
Travel and hospitality
Telephone and broadband
Production
Thirty One Eight membership services
Adverts publicity
Subscriptions
Music/pa system, equipment and licences
Pension costs
Ministry expenses
Training
Insurance
Printing, postage and stationery
Consultancy contracts
Mortgage interest		 Unrestricted
Funds
£
-
174
174
47,679
-
3,790
21,015
1,159
50
2,950
675
1,393
7,122
3,834
597
1,409
998
-
-
-
-
1,676
141
-
1,895
3,956
654
1,400
4,211
1,193
923
825
823
92
-
-
6,325
700
117,486		 Restricted
Funds
£
4,765
-
4,765
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
14,596
-
-
4,673
-
-
-
-
-
-
-
-
-
-
-
-
-
-
19,269		 Total
2023
£
4,765
174
4,939
47,679
-
3,790
21,015
1,159
50
2,950
675
1,393
7,122
3,834
597
1,409
998
-
-
-
14,596
1,676
141
4,673
1,895
3,956
654
1,400
4,211
1,193
923
825
823
92
-
-
6,325
700
136,755		 Total
2022
£
6,187
146
6,334
53,744
-
3,669
-
-
-
-
464
-
3,749
3,864
-
912
-
20
9,331
251
9,613
2,143
206
2,797
1,593
4,148
615
1,031
4,069
968
1,448
1,041
262
116
1,907
119
4,886
700
113,668

14

CITY LIFE CHURCH - SUNDERLAND

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023

Analysis of expenditure on charitable activities - continued

Expenditure on charitable activities was £141,693 (2022: £120,002) of which £117,659 was unrestricted or designated (2022: £101,405) and £24,034 was restricted (2022: £18,597)

11 Fees for examination of the accounts

Independent examiner's fees for reporting on the accounts 2023
£
700
700		 2022
£
700
700

There were no other fees paid to the examiner (2022: £nil)

12 Analysis of staff costs and the cost of key management personnel

Employer's pension costs
Gross wages, salaries and benefits in kind		 2023
£
47,679
3,790
51,469		 2022
£
53,744
3,669
57,413

No employee received remuneration above £60,000 (2022: nil)

The key management personnel of the charity, comprise the Trustees and the Senior Minister. The total employee benefits of the key management personnel of the charity were £29,814, (2022: £27157).

13 Staff numbers

The average monthly head count was 2.3 staff (2022: 3 staff) and the average monthly number of full-time equivalent employees during the year were as follows:

Charitable activities
The parts of the charity in which the employee's work		 2023
Number
2.3
2.3		 2022
Number
3.0
3.0

14 Transactions with Trustees

Two Trustees were paid as employee's of the Charity - Firstly, Mr J. Clarke who is the Senior Minister. No renumeration or benefits were paid for his role as Trustee (2022: £nil). - Secondly, Mrs Kerina Clark t/a Magnify Consulting was paid a total of £5,600 (2022:£nil) for the provision of a strategic and operational review project. (The charity undertook an arm's length process to ensure they chose the best provider, Mrs Kerina Clark was not part of the decision making process).

No other Trustees were paid or received any other benefits from employment with the Charity in the year (2022: £nil) neither were they reimbursed expenses during the year (2022: £nil). There were no other related party transactions.

15

CITY LIFE CHURCH - SUNDERLAND

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023

15 Defined contribution pension scheme

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The employer's pension costs represent contributions payable by the charity to the fund and amount to £3,790 (2022: £3,669). There was £0 outstanding as at 31 December 2023 (2022: £0)

16 Corporation Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives.

17 Donations

Total value of donations
Donation - Financial Support
Donation - Foodbank
Donation - Gifts
Freehold
land and
18 Tangible fixed assets
building
£
Cost
Balance brought forward
828,362
Additions
-
Disposals
-
Balance carried forward
828,362
Depreciation
Basis
No Dep'n
Rate
Balance brought forward
-
Depreciation charge for year
-
Disposals
-
Balance carried forward
-
Net book value
Brought forward
828,362
Carried forward
828,362
Donation - Love Christmas/220 Hampers
Donation - Impact Project		 Computer
equipment
£
19,436
613
-
20,049
SL
33%
16,292
870
-
17,162
3,144
2,887		 2023
Total
£
1,237
-
680
174
2,849
4,939
Fixtures
and fittings
£
17,312
-
-
17,312
SL
33%
14,822
-
-
14,822
2,490
2,490		 2022
Total
£
166
40
370
1,313
4,445
6,334
Capitalised
fees and
expenses
£
52,261
39,231
-
91,492
SL
33%
49,861
5,455
-
55,316
2,400
36,176		 Total
£
917,371
39,844
-
957,215
80,975
6,325
-
87,300
836,396
869,915

16

CITY LIFE CHURCH - SUNDERLAND

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2023

19 Debtors and prepayments (receivable within 1 year)

Other debtors
Gift Aid recoverable		 2023
£
3,781
3,781		 2022
£
1,730
1,730

20 Cash at bank and in hand

Cash at bank and in hand 2023
£
65,842
65,842		 2022
£
71,122
71,122

21 Creditors and accruals (payable within 1 year)

Mortgage
AOG subscriptions
Independent examination of accounts
Capital
Trade creditors
Accruals
PAYE and social security		 2023
£
2,235
8,314
1,996
700
8,460
21,705		 2022
£
2,449
-
1,529
700
8,756
13,435

22 Creditors and accruals (payable after more than 1 year)

Mortgage
Capital		 2023
£
157,448
157,448		 2022
£
165,366
165,366

There is a mortgage (balance outstanding £165,908) holding a charge over the church building until the last payment due on 12/06/2035

23 Events after the end of the reporting period

No events (not requiring adjustment to the accounts) have occurred after the end of the reporting period but before the accounts are authorised which relate to conditions that arose after the end of the reporting period.

17

CITY LIFE CHURCH - SUNDERLAND

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2023

24 Analysis of charitable funds

Analysis of movements in unrestricted funds

Unrestricted funds
Building capital fund
General unrestricted fund
Totals
Fixtures, fittings and equipment		 balances
balances
brought
forward
£
665,396
5,634
49,432
720,462		 Incoming
resources
£
-
-
146,246
146,246		 Resources
expended
£
( 5,455 )
( 870 )
( 111,334 )
( 117,659 )		 Transfers
£
47,150
613
( 47,763 )
-		 Fund
balances
carried
forward
£
707,091
5,377
36,581
749,049

Purpose of unrestricted funds

Building capital fund

Fixtures, fittings and equipment fund General unrestricted fund

The building capital fund represents the book value of the property less the amount outstanding on the mortgage.

The fixtures, fittings and the equipment fund represents the amount invested in these fixed assets.

The general unrestricted fund represents the current unrestricted bank balance plus debtors less creditors (not including mortgage payment falling due within 1 year).

Analysis of movement in restricted funds

Restricted funds
Vision fund
Impact fund
General Support
Foodbank
Christmas Hampers
Totals		 balances
balances
brought
forward
£
5,069
3,601
946
370
9,986		 Incoming
resources
£
18,569
1,694
1,607
3,515
25,385		 Resources
expended
£
( 19,269 )
( 1,237 )
( 680 )
( 2,849 )
( 24,034 )		 Transfers
£
-
-
-
-
-		 Fund
balances
carried
forward
£
4,369
4,059
1,873
1,036
11,336

18

CITY LIFE CHURCH - SUNDERLAND

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2023

24 Analysis of charitable funds continued

Purpose of restricted funds

Restricted funds represent income resources used for a specific purpose within the charity as identified by the donor.

Vision fund

The building revenue fund represents cash funds set aside expressly for the purpose of paying the mortgage liability.

Impact fund

General Support

Foodbank Christmas Hampers

The mission fund exists to ensure that all monies donated for the purpose of assisting various Missionaries are so used.

To purchase additional food supplies.

To provide hampers to families in need.

Transfers between funds

Between building and capital fund and general unrestricted

Reason for transfer

----- Start of picture text -----
Reason for transfer Amount
£
Transfer represents amount invested in building and capital 39,449
payment of mortgage during the year.
----- End of picture text -----

25 Capital commitments

As at 31 December 2023, other than the mortgage the charity had no other capital commitments (2022 -£nil)

26 Analysis of net assets between funds

Tangible fixed assets
Cash at bank and in hand
Long term assets/(liabilities)
Other net current assets/(liabilities)		 Unrestricted
Funds
£
869,915
54,506
( 17,924 )
( 157,448 )
749,049		 Restricted
Funds
£
-
11,336
-
-
11,336		 Total
2023
£
869,915
65,842
( 17,924 )
( 157,448 )
760,385		 Total
2022
£
836,396
71,122
( 11,704 )
( 165,366 )
730,448

19