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2022-12-31-accounts

SOUTH LINCS CHURCH

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

SOUTH LINCS CHURCH IS A REGISTERED CHARITY (NO. 1052169) AND IS AFFILIATED TO ASSEMBLIES OF GOD INC.

SOUTH LINCS CHURCH INDEX TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

INDEX PAGE
Trustees Report 3 - 6
Independent Examiner’s Report 7
Income and Expenditure Statement 8
Balance Sheet 9
Notes to the Financial Statements 10 - 13

2

SOUTH LINCS CHURCH TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

Full Name

South Lincs Church

Registered Charity Number

1052169

Registered Office South Lincs Church 19 Westgate Ruskington Sleaford NG34 9ES

Charity trustees

David Wade – Chair, appointed May 2022 Mr Steven Courtney – Treasurer Sarah Lane – appointed November 2022 Alexandra Samson – Chair resigned February 2022 Mr John Fee – resigned November 2022 Mr Mark Button – resigned November 2022

Governing Document

Constitution and Trust Deed adopted 27 April 2006 as amended on 29 November 2007

Bankers HSBC 26 Market Place Sleaford NG34 7SB

Independent Examiner

S V Miller 66 Westcliffe Street Lincoln LN1 3TZ

3

SOUTH LINCS CHURCH TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

The trustees have pleasure in presenting their annual report and the financial statements for the year ended 31 December 2022

Objectives

The objects of the church 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 from 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 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.

Organisation

Membership is open to any individual who; by grace has exhibited saving faith in Lord Jesus Christ; desires to worship and serve God in the context of the Statement; and is committed to promoting the Objects. Management of the Church is by the Church Council which will include the Senior Minister of the Church, the minimum number of members of the Church Council shall be three.

Financial Review

The financial statements on pages 8 to 12 comply with statutory requirements.

The Income and Expenditure statement on page 8 shows net incoming resources for the year end 2022 £37,492 (2021: £4,996). The church has continued to fund a variety of projects and activities, which are in line with its stated objectives. The level of activity for the year was satisfactory and the trustees believe that this will continue for the foreseeable future. The cumulative balance on the unrestricted general fund at the year-end was £255,783 (2021: £218,275).

The church is dependent upon the continued receipt of donated income. At the year end the financial position of the church was satisfactory. The church receives a certain amount of voluntary help, it is not possible to quantify the value of the time given. We are extremely grateful to all our volunteers who help the church and its various activities to run smoothly.

Reserves Policy

The Trustees’ aim is to hold around £10,000 in reserves representing approximately three months’ worth of expenses and redundancy costs. This should allow the Trustees time to take the necessary corrective action to gain funding should current income sources dry out.

4

SOUTH LINCS CHURCH TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

This has been a year of transition as we continued to seek the new path forward following the resignation of our previous Senior Minister. After a time of consultation and conversations with various people, it was agreed that Pastor Dave Wade, from Bridge Church Lincoln would step in as Senior Pastor, with the specific mandate of bringing stability to the organisation as a whole and working with the existing leadership team to plot the best path forward. This was established as a part time role as Dave also continued to lead Bridge Church.

Pastor Dave started in April and the immediate focus was bringing some clarity and consistency to our Sunday gatherings, whilst looking to bring some consensus around the future vision of the church.

During the following months, the leadership structure of the church was clarified, as well as identifying which ministries needed to continue, what needed to stop and what was just on pause. The primary focus has been to concentrate on the building up of the people within the church so that the church is in a stronger place to start reaching out to the community again in 2023 and beyond.

The year ended with a wonderful Christmas Carol service on Sunday 18th December. There were a number of visitors, and the church was encouraged as to what the coming year could hold.

Stability has been the theme of the year and it is felt that the church is in a stronger and healthier position now to move forward with purpose and unity.

5

SOUTH LINCS CHURCH TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

Trustees' responsibilities

Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year (unless the charity is entitled to prepare accounts on the alternative receipts and payments basis). In preparing financial statements giving a true and fair view, the trustees should follow best practice and:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ensure that the financial statements comply with applicable law and regulations. 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.

Internal control and risk management

The Trustees continue to monitor the major risks to which the charity is exposed and to keep under review the adequacy of the systems according to the size of the charity and the nature of its operations.

Signed on behalf of the Trustees

[ORIGINAL SIGNED]

Signed……………………………………………………….. Dated …………………. Steven Courtney, Treasurer

6

SOUTH LINCS CHURCH INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022

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.

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 ‘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 my examination, no matter has come to my attention:

  1. which gives me reasonable cause to believe that, in any material respect, the requirements:

  2. to keep accounting records in accordance with section 130 of the Charities Act; and

  3. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act

have not been met; or

  1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

[ORIGINAL SIGNED]

Signed ………………………………………………. Dated ……………………………. Sue Miller ACMA

7

SOUTH LINCS CHURCH FOR THE YEAR ENDED 31 DECEMBER 2022 INCOME AND EXPENDITURE STATEMENT

Unrestricted
Funds
£
Offerings including gift aid tax refunded
27,064
Little Acorns
0
Donations
15
Vision Offering
0
Legacy
33,430
Bank interest
41
Miscellaneous
0
Total incoming resources
60,550
_

Ministry
7,681
Equipment
625
Insurance
1,015
Utilities
3,123
Repairs and renewals
1,558
Office
1,194
Missionary
1,720
AOG
792
Accountancy
370
Sundries
510
Depreciation
3,326
Mortgage interest
1,278
_

Total resources expended
23,191
_

Net incoming/outgoing resources for the year
37,359
Balances brought forward at 1 January 2022
218,275
_

Balances carried forward at 31 December 2022 255,634		 Unrestricted
Funds
£
27,064
0
15
0
33,430
41
0		 Unrestricted
Funds
£
27,064
0
15
0
33,430
41
0		 Restricted Restricted Restricted 2022
Total

Funds
£
27,384
0
15
0
33,430
41
0		 2021
Total
Funds
£
30,429
60
15
2,635
0
2
517
33,658
__
16,603
0
1,011
1,801
150
964
450
1,537
350
399
3,699
1,698
_
28,662
_
4,996
215,715
_____
**215,715 **
Funds
£
320
0
0
0
0
0
0
60,550
_

7,681
625
1,015
3,123
1,558
1,194
1,720
792
370
510
3,326
1,278
_

23,191
_

37,359
218,275
_

255,634


320
_

176
0
0
0
0
0
160
0
0
0
0
0


336
__

(16)
2,436
_____

2,420		 60,870
_
7,856
625
1,015
3,123
1,558
1,194
1,880
792
370
510
3,326
1,278
_

23,527
_

37,343
220,711
_

258,054

8

SOUTH LINCS CHURCH BALANCE SHEET AS AT 31 DECEMBER 2022

Note
Tangible fixed assets
2
Current assets
Cash at bank and in hand
3
Prepayments
4
Creditors: amounts falling due within 1 year
5

Net Current Assets

Total assets less current liabilities
Creditors: amounts falling due after more than 1 year6

Financed by:
Unrestricted funds
Restricted funds

Total Funds		 2022
£
210,020
47,831
352
149
_

48,034
_

258,203
0
_

258,054
255,634
2,420
_____

258,054		 2021
£
213,346
26,014
0
9,179
__
16,835
_
230,181
9,470
_
220,711
218,275
2,436
____
220,711

9

SOUTH LINCS CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. Accounting policies

The financial statements have been prepared in accordance with applicable accounting standards and the Charities SORP.

a) Accounting convention

The financial statements have been prepared under the historical cost convention.

b) Basis of preparation

In addition, the trustees consider that donations and gifts will continue to be forthcoming. As a result, in the opinion of the trustees, adequate cash resources will be available to cover the church’s requirements for working capital and capital expenditure for at least the next year and the financial statements have therefore been prepared on the going concern basis.

c) Donations

Donations received are recognised in the Statement of Financial Activities when received and any related tax credits are accounted for when claimed.

The Giving Machine £15.24

d) Fixed assets and additions

Items from capital expenditure are capitalised and shown at cost as fixed assets in the balance sheet. Depreciation is calculated to write off the cost less estimated

residual value of fixed assets on a reducing balance basis over their estimated useful lives.

Freehold property

Furniture and equipment

Computers

no depreciation on Land & 2% straight line on buildings 25% reducing balance 3 years straight line

10

SOUTH LINCS CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

e) Voluntary help

A certain amount of time is expended on the church activities which is donated free of charge. It is not possible to quantify the value of the time given, and accordingly it is neither recorded as donated income nor as an expense in the financial statements.

f) Trustees’ remuneration

One Trustee, David Wade, received a salary of £5,976 for his role as church minister employed by the charity, he started in May 2022. He is not directly remunerated for the role as a Trustee of the charity.

2. Tangible fixed assets

2. Tangible fixed assets
Freehold Furniture &
Laptop		 Total
Property Equipment
Historical Cost £ £ £ £
As at January 2022 256,308 1,900 0 258,208
Additions 0 0 0 0
Disposals 0 0 0 0
_ _ _ _
As at 31 December 2022 256,308 1,900 0 258,208
_ _ _ _
DEPRECIATION
As at January 2022 43,764 1,098 0 44,862
Provided in year 3,126 200 0 3,326
_ _ _ _
As at 31 December 2022 46,890 1,298 0 48,188
_ _ _ _
NBV at 31 December 2022 209,418 602 0 210,020
NBV at 31 December 2021 215,544 802 0 213,346

11

SOUTH LINCS CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

3. Cash at bank and in hand

**3. ** Cash at bank and in hand
2022 2021
HSBC account 31079549 1,610 7,804
HSBC account 51271091 Little Acorns 0 97
HSBC account 51487523 46,221 18,113
_ _
47,831 26,014
_ _
**4. ** Prepayment
2022 2021
D Wade to attend AoG Conference 2023 352 0
**5. ** Creditors: amounts falling due within one year
2022 2021
Mortgage payments 0 9,179
PAYE 149 0
_ _
149 9,179
_ _

6. Creditors: amounts falling due after more than one year

The sum due to AOG Property Trust was paid during the year due to a legacy being given to the church. The church no longer has a mortgage.

12

SOUTH LINCS CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

7. Summary of Fund Movements - Restricted

Fund Name Opening Received Expenditure Balance
Balance
Vision Offering 2,436 0 16 2,420
Sleaford Foodbank 0 160 160 0
Warm Spaces 0 50 50 0
Chestnuts Home 0 110 110 0
Totals 2,436 320 336 2,420

13