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2022-12-31-accounts

Charity number

1052142

Restore Church Boston

Financial statements for the year ended

31 December 2022

Restore Church Boston

Financial statements for the year ended

31 December 2022

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 2022

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 continued to utilise it's 17 available beds for the homeless and vulnerable during the period with additional expansion planned in the future

The charity continued to maintain these properties and enhance them to provide a high standard of living accomodation

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 14,000 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 shops and on average served 1,600 adults, and 800 children , with there being 3,600 shops on average.

The charity continues to hold Sunday services with on average 60 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 and Kitui Kenya, Stana de Mures in Romania and has supported the people of Ukraine

FINANCIAL REVIEW

The net increase to the funds for the period amounted to £8,029 (2021: deduction of £21,132). Of this amount £16,876 (2021: £4,924 ) are fund additions attributable to restricted activities and £8,847 are deductions attributable from unrestricted funds (2021 attributed to funds £26,056).

FUTURE PLANS

Restore Church has continued to grow and prosper throughout 2023 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 2022

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 ______ and signed on its behalf by: J D Monks - Trustee

Page 2

Restore Church Boston

Financial statements for the year ended 31 December 2022

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
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
2022
2021
£
£
£
£
Note 3
Note 4
68,226
-
68,226
51,351
-
-
-
-
11,284
-
11,284
10,450
9,422
-
9,422
2,180
88,932
-
88,932
63,981
-
209,134
209,134
131,311
7,580
-
7,580
12,580
16,025
240
16,265
19,061
23,605
240
23,845
31,641
1,500
-
1,500
2,300
164
-
164
124
1,664
-
1,664
2,424
114,201
209,374
323,575
229,357
1,777
-
1,777
1,100
36,273
63,246
99,519
80,844
14,213
-
14,213
9,950
20,182
-
20,182
25,908
-
39,941
39,941
41,801
3,195
62,759
65,954
53,942
8,463
-
8,463
7,625
10,275
-
10,275
1,261
-
-
-
1,308
5,210
5,252
10,462
4,697
99,588
171,198
270,786
228,436
-
-
-
-
10,008
21,910
31,918
10,994
3,993
(685)
3,308
3,508
3,571
-
3,571
1,938
864
35
899
1,030
5,020
40
5,060
4,583
23,456
21,300
44,756
22,053
(8,843)
16,876
8,033
(21,132)
16,692
(16,692)
-
-
101,164
79
101,243
122,375
109,013
263
109,276
101,243

Page 3

Restore Church Boston

Financial statements for the year ended 31 December 2022

Balance Sheet

FIXED ASSETS: Note 5
Buildings
Equipment
Fixtures & Fittings
Motor Vehicles
Computer Equipment
INVESTMENT Note 6
Green Pastures CBS Limited Loan Stock
CURRENT ASSETS
Cash in hand
Debtors
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		 -
13,358
688
249
2,569
16,864
-
1,186
6,146
6,049
53,735
29,391
96,507
-
4,095
4,095
92,412
109,276
109,013
263
109,276
2022		 -
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

Page 4

Restore Church Boston

Financial statements for the year ended 31 December 2022

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 2022

Notes to the accounts

Note 3 - General Fund - Unrestricted

Income and Expenditure Account Income and Expenditure Account
2022 2021
Voluntary income
Tithes and offerings 68,226 51,351
Gift Aid 11,284 10,450
Sundry donations 9,422 2,180
Other income 88,932 63,981
Grants received Note 8 7,580 12,580
Furloughed grant - -
Sundry income 756 5,116
Conferences and hall hire 1,089 3,552
Pantry and Burger van receipts 14,180 10,077
Interest
Bank interest		 164 124
Investment interest 1,500 2,300
Total income 25,269
114,201		 33,749
97,730
Expenditure
Salaries and employers NI 34,973 36,325
Pension 1,300 1,117
Insurance 576 199
Heat and light 3,323 6,123
Storage rent 900 140
Water 637 1,005
Rates 347 450
Repairs and renewals 12,121 4,828
Maintenance contracts inc copier -
Cleaning and waste removal 592 832
Building costs 1,638 11,458
Equipment repairs - 381
Office/Church rent 3,195 18,399
Motor expenses 8,463 7,625
Provisions including Burger Van and pantry 14,213 8,908
Housekeeping - 1,042
Events 48 492
Youth work 361 87
Cost of seminars - 1,308
Overseas mission 9,914 1,174
Gifts 1,370 707
Advertising 62
Stationery and postage 2,128 400
Telephone and broadband 7,818 5,768
AOG Tithe 1,777 1,100
AOG subscription 275 225
Copyright fee 523 665
Miscellaneous expenses 3,150 812
Legal and professional 3,038 2,073
Computer software costs 3,571 1,938
Accountancy fees 432 360
Bank interest and charges 864 1,030
Sundries 415 2,232
Depreciation 5,020 123,044 4,583 123,786
Transfer from Restore Homes (8,843)
16,692		 (26,056)
22,892
Balance brought forward 101,164 104,328
Balance before sale of buildings 109,013 101,164
Balance carried forward 109,013 101,164

Page 6

Restore Church Boston

Financial statements for the year ended 31 December 2022

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
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
Bank interest and charges
Depreciation
Sundry expenses
Net income
Transfer to Restore Church
Balance brought forward
Balance carried forward		 192,786
118,721
-
32
16,348
12,558
-
-
240
316
209,374
131,627
62,416
42,824
830
578
19,800
3,823
62,759
35,543
6,636
5,108
1,976
1,797
11,251
3,334
1,031
1,033
-
-
12,875
28,967
5,476
915
696
647
2,110
1,003
432
360
(1,117)
50
35
-
40
-
5,252
721
192,498
126,703
16,876
4,924
(16,692)
(22,892)
79
18,047
263
79
2022
2021

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 2022

Note 5 - Fixed Assets

Cost B/F
Additions
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
Computer
Equipment
Total
-
37,216
4,412
996
-
42,624
-
1,146
-
-
2,875
4,021
-
-
-
-
-
-
38,362
4,412
996
2,875
46,645
-
20,668
3,555
498
-
24,721
-
4,336
169
249
306
5,060
-
-
-
-
-
25,004
3,724
747
306
29,781
-
13,358
688
249
2,569
16,864
-
16,548
857
498
-
17,903

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% Computer equipment 25%

Note 6 - Investment

During the previous year an investment of £50,000 was made in Green Pastures CBS Limited Loan Stock which matured 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		 2022
2021
3,625
720
470
351
4,095
1,071

Note 8 - Grants received

Martin Lewis fund
Cinnamon network
Road and Traffic (Ukraine)
Asda
Arnold Clark
Communities matter
Co Operative Society
Neighbourly and B & Q
Charities Trust
Boston Borough Council
Boston BIG Local		 General
fund
Restricted
fund
2022 Total
2,000
2,000
500
500
1,246
1,246
1,000
1,000
334
334
-
-
-
-
-
-
-
-
2,500
2,500		 General
fund
Restricted
fund
2021 Total
-
-
-
-
-
-
3,500
3,500
-
-
940
940
5,400
5,400
1,740
1,740
1,000
1,000
-
-
12,580
-
12,580
7,580
-
7,580

Page 8

Restore Church Boston

Financial statements for the year ended 31 December 2022

Notes to the accounts

Note 9 - Paid Employees

Staff Costs
Salaries
Pension		 2022
2021
97,389
79,149
2,130
1,695
99,519
80,844

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 2022 2021
Independent Examiner Fee 720 600
Accountancy Services 144 120
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 2022

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 2022

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:

3 the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

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

30 September 2023

Page 10