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2021-12-31-accounts

Charity number

1052142

Restore Church Boston

Financial statements for the year ended

31 December 2021

Restore Church Boston

Financial statements for the year ended

31 December 2021

Index

Page

1 - 2 Trustees report
3 Statement of Financial Activities
4 Balance Sheet
5 - 9 Notes to the accounts
10 Independent Examiners Report

Restore Church Boston

Financial statements for the year ended

31 December 2021

Report of the trustees

The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES

The main objectives of Restore Church Boston are:

ACHIEVEMENT AND PERFORMANCE

The charity has increased it's number of properties to 4 and available beds for the homeless and vulnerable to 17 by leasing these from Green Pastures ,a well as continuing to lease the premises for the church to occupy from them

Extensive refurbishments were made to the additional houses before they could be occupied

During the year the church premises were upgraded to provide better kitchen facilities.

The Charity continued to serve the Boston community with the soup van 6 nights a week and in the last 12 months have fed nearly 10,000 people, also Restore Pantry which is a social supermarket continues to serve the community as well opening 3 days a week and has served on average 926 single person shops and 1164 family shops and on average served 5,500 people

The charity continues to hold Sunday services with on average 50 families attending each week. The charity continues with its obligation of proclaiming the Gospel and loving people, and continues to support the church in Kisumu Kenya and Stana de Mures in Romania

FINANCIAL REVIEW

The net deduction to the funds for the period amounted to £21,132 (2020: addition of £27,042). Of this amount £4,924 (2020: £17,304) are fund additions attributable to restricted activities and £26,056 are deductions attributable from unrestricted funds (2020 attributed to funds £4.869).

FUTURE PLANS

Restore Church has continued to grow and prosper throughout 2021 and aims to continue this into the future.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The organisation is a Charity registered on 22 January 1996 The organisation is governed by a constitution.

The members of the Executive Committee are the Trustee for the purpose of charity law and are collectively referred to as the Trustees.

The Trustees have had due regards to guidance distributed by the Charity Commission on public benefit. The Trustees who served during the period and up to the date of this report are set out below.

The Trustees are put up for re-election every three years at the annual general meeting. Any casual vacancies can be filled by co-option.

Page 1

Restore Church Boston

Financial statements for the year ended

31 December 2021

Report of the trustees (continued)

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number

1052142

Principal address

Liquorpond Street Boston Lincolnshire PE21 8UJ

Trustees

Mrs J D Monks Ms K L Slater Mrs M C Langley Mr M Mann

Independent Examiner

D A Kime FMAAT Kime Consultancy Limited Office F5 - Workspace Kirton Business Park Willington Road Kirton Business Park Lincolnshire PE20 1NN

Approved by order of the board of trustees on 15 July 2022 and signed on its behalf by:

J D Monks - Trustee

Page 2

Restore Church Boston

Financial statements for the year ended 31 December 2021

Statement of Financial Activities

INCOMING RESOURCES
Voluntary income
Planned giving
Special Collections
Gift Aid recovered
Donations
Activities for generating funds
Housing receipts
Other incoming income
Grant
Sundry income
Investment income
Investment income
Bank interest
Total incoming resources
RESOURCES EXPENDED
Charity activities
AOG Tithes
Staffing costs
Provisions and food
Church running expenses
House running costs
Hall hire/church lease
Motor expenses
Mission and youth work
Seminars and teaching
Other expenses
Cost of generating voluntary income
Cost of admin and other expenses
Office costs
Legal and professional
Computer and website costs
Bank interest and charges
Depreciation
NET INCOMING RESOURCES
(OUTGOING RESOURCES)
Transfers
Balances b/fwd 1st January
Balances c/fwd 31st December		 Unrestricted
Restricted
Total
Total
Funds
Funds
2021
2020
£
£
£
£
Note 3
Note 4
51,351
-
51,351
42,498
-
-
-
1,639
10,450
-
10,450
14,826
2,180
-
2,180
2,751
63,981
-
63,981
61,714
-
131,311
131,311
24,817
12,580
-
12,580
81,318
18,745
316
19,061
4,282
31,325
316
31,641
86,727
-
2,300
-
2,300
600
124
-
124
113
2,424
-
2,424
713
97,730
131,627
229,357
173,971
1,100
-
1,100
1,200
37,442
43,402
80,844
30,624
9,950
-
9,950
7,062
25,908
-
25,908
21,250
-
41,801
41,801
4,970
18,399
35,543
53,942
41,395
7,625
-
7,625
4,864
1,261
-
1,261
4,718
1,308
-
1,308
1,135
3,976
721
4,697
222
106,969
121,467
228,436
123,717
-
-
-
-
6,168
4,826
10,994
2,720
3,098
410
3,508
14,115
1,938
-
1,938
1,809
1,030
-
1,030
547
4,583
-
4,583
4,021
16,817
5,236
22,053
23,212
(26,056)
4,924
(21,132)
27,042
22,892
(22,892)
-
-
104,328
18,047
122,375
95,333
101,164
79
101,243
122,375

Page 3

Restore Church Boston

Financial statements for the year ended 31 D 31 December 2021

Balance Sheet

FIXED ASSETS: Note 5
Buildings
Equipment
Fixtures and fittings
Motor vehicles
INVESTMENT Note 6
Green Pastures CBS Limited Loan Stock
CURRENT ASSETS
Cash in hand
Barclays
Current account
Barclays
Deposit account
Barclays Community account
CURRENT LIABILITIES
Barclays current account
Sundry creditors
Note 7
NET CURRENT ASSETS
Represented by the following funds
General Fund
Restricted fund		 -
16,548
857
498
17,903
50,000
30
6,478
12,349
15,554
34,411
-
1,071
1,071
33,340
101,243
101,164
79
101,243
2021		 -
15,530
1,026
747
17,303
60,000
1,669
53,649
1,639
56,957
-
11,885
11,885
45,072
122,375
104,328
18,047
122,375
2020

Approved by the Trustees on 15 July 2022

and signed on their behalf by Stuart Vickers Pastor

Page 4

Restore Church Boston

Financial statements for the year ended 31 December 2021

Notes to the accounts

Note 1 - Basis of preparation

Basis of accounting

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these 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 Charities Act 2011

Note 2 - Accounting Policies

2.1 Income

Income is included in the Statement of Financial Activities (SoFA) when the Charity becomes entitled to the resources and the monetary value can be measured with sufficient reliability

There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP

Donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 SORP)

Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor has specified otherwise.

The value of any voluntary help received is not included in the accounts.

Income from Bank interest is included in the accounts when receipt is probable and the amount receivable can be measured reliably

2.2 Expenditure and Liabilities

Liabilities are recognised where 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 obilgation can be measured with reasonable certainty

The Charity has creditors which are measured at settlement amounts

2.3 Assets

Tangible Fixed Assets are capitalised if they can be used for more than one year and cost at least £500 and are valued at cost. The depreciation rates and methods used are disclosed in note 5

Page 5

Restore Church Boston

Financial statements for the year ended 31 December 2021

Notes to the accounts

Note 3 - General Fund - Unrestricted

Income and Expenditure Account

Voluntary income
Tithes and offerings
Gift Aid
Sundry donations
Other income
Grants received
Note 8
Furloughed grant
Sundry income
Conferences and hall hire
Pantry and Burger van receipts
Interest
Bank interest
Investment interest
Total income
Expenditure
Salaries
Employers NIC
Pension
Insurance
Catering insurance
Integra
Heat and light
Storage rent
Water
Rates
Repairs and renewals
Maintenance contracts inc copier
Cleaning and waste removal
Building costs
Equipment repairs
Green Pastures lease
Motor expenses
Provisions including Burger Van
Martin Lewis food
Christmas Hampers
Housekeeping
Events
Youth work
Cost of seminars
Overseas mission
Gifts
Stationery and postage
Telephone and broadband
Website costs
AOG Tithe
AOG subscription
Copyright fee
Miscellaneous expenses
Legal and professional
Computer software costs
Accountancy fees
Bank interest and charges
Sundries
Depreciation
Transfer from Restore Homes
Balance brought forward
Balance before sale of buildings
Balance carried forward		 36,325
-
1,117
-
199
6,123
140
1,005
450
3,746
1,082
832
11,458
381
18,399
7,625
8,908
-
-
1,042
492
87
1,308
1,174
707
400
5,768
-
1,100
225
665
812
2,073
1,938
360
1,030
2,232
4,583
2		 51,351
10,450
2,180
63,981
12,580
-
5,116
3,552
10,077
124
2,300
33,749
97,730
23,414
458
805
666
113
164
4,461
-
242
378
1,747
227
1,381
7,626
1,602
24,595
4,864
6,082
4,570
1,707
980
-
7
1,135
4,711
23
93
2,101
144
1,200
-
588
2,643
1,587
1,665
-
547
21
4,021
123,786
(26,056)
22,892
104,328
101,164
101,164
2
021		 44,343
14,826
2,711
61,880
47,300
1,127
1,463
-
1,829
113
600
52,432
114,312
106,568
7,744
1,994
94,590
104,328
104,328
020

Page 6

Restore Church Boston

Financial statements for the year ended 31 December 2021

Notes to the accounts

Note 4 - Restricted Fund

Restore Homes
Donation - Mercers Company
Income
BBC receipts
DWP
Client deposits
Grants
Note 8
Sundry receipts
Expenditure
Salaries
Employers NIC
Pension
Office Rent
Green Pastures rent
Council tax
Water
Heat and light
Insurance
New tenant packs
Maintenance
Repairs and renewals
TV Licence
Telephone
Accountancy
Legal and professional
Sundry expenses
Net income
Transfer to Restore Church
Balance brought forward
Balance carried forward		 118,721
32
12,558
-
316
131,627
42,824
-
578
3,823
35,543
5,108
1,797
3,334
1,033
-
28,967
915
647
1,003
360
50
721
126,703
4,924
(22,892)
18,047
79
2021		 3,500
16,999
2,093
5,725
34,018
824
59,659
5,698
186
63
16,800
1,386
564
725
505
42
1,056
734
157
345
-
11,940
160
40,361
19,298
(1,994)
743
18,047
2020

As part of the Charities work in the local community properties in Boston were rented from Green Pastures in order to provide accommodation and support for homeless people living in the town. Housing Benefit has been received from Boston Borough Council with top ups coming from the tenants and the DWP

Page 7

Restore Church Boston

Financial statements for the year ended 31 December 2021

Note 5 - Fixed Assets

Cost B/F
Additions
Revaluation
Disposals
Cost C/F
Depreciation B/F
Depreciation for the year
Depreciation on sales
Depreciation C/F
Net Book Value 31 Dec 2021
Net Book Value 31 Dec 2020		 Buildings
Equipment
Fixtures &
Fittings
Motor
Vehicles
Total
-
32,034
4,412
996
37,442
-
5,182
-
-
5,182
-
-
-
-
-
-
-
37,216
4,412
996
42,624
-
16,504
3,386
249
20,139
-
4,164
169
249
4,583
-
-
-
-
-
20,668
3,555
498
24,721
-
16,548
857
498
17,903
-
15,530
1,026
747
17,303

Depreciation is being charged in a straight-line basis to write off the assets over their useful lifespan as follows:

Equipment 15% Fixtures & Fittings 10% Motor Vehicles 25%

Note 6 - Investment

During the year an investment of £50,000 was made in Green Pastures CBS Limited Loan Stock which matures on 9th September 2022.

It will pay 4% interest payable quarterly during the year

Note 7- Creditors
Amounts due to 3rd Parties
Pension contributions due
PAYE		 2021
2020
720
9,948
351
576
-
1,361
1,071
11,885

Note 8 - Grants received

Martin Lewis fund
Arnold Clark
Co Operative Society
Neighbourly and B & Q
Charities Trust
Boston Borough Council
Church Revitalisation
Homeless Link
Waste and Reso
Boston BIG Local		 General
fund
Restricted
fund
2021 Total
3,500
3,500
940
940
5,400
5,400
1,740
1,740
1,000
1,000
-
-
-
-
-
-
-
-		 General
fund
Restricted
fund
2020 Total
5,000
5,000
20,800
20,800
2,000
2,000
34,018
34,018
15,000
15,000
4,500
4,500
47,300
34,018
81,318
12,580
-
12,580

Page 8

Restore Church Boston

Financial statements for the year ended 31 December 2021

Notes to the accounts

Note 9 - Paid Employees

Staff Costs
Salaries
Social Security Costs
Pension		 2021
2020
79,149
29,112
-
644
1,695
868
30,624
0

No employee received employee benefits excluding employer pension costs during the year

The average number of people employed by the Charity during the year was 4 (7 during 2020)

Note 10 - Fees for examination of the accounts 2021 2020
Independent Examiner Fee 600 -
Accountancy Services 120 -

Note 11 - Trustee renumeration and benefits

No trustee has been paid any renumeration or received any other benefit during the year.

The Trustees have the overall control of the Church with regard to its spiritual and financial affairs

Page 9

Restore Church Boston

Financial statements for the year ended

31 December 2021

Independent Examiner's report to the trustees of Restore Church Boston

I report to the charity trustees on my examination of the accounts of Restore Church Boston (the Trust) for the year ended 31 December 2021

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all 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 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 accounts to be reached.

D A Kime FMAAT Association of Accounting Technicians Kime Consultancy Limited Office F5 - Workspace Kirton Business Park Willington Road Kirton Business Park Boston Lincolnshire PE20 1NN

15 July 2022

Page 10