ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2023
NEWSPRING CHURCH
CHARITY REGISTRATION NUMBER 1052699
Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham PO18 8NF
NEWSPRING CHURCH
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2023
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Page
Legal and Administrative Information 3
Trustees' Report 4 to 6
Independent Examiner's Report on the Accounts 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Accounts 10 to 18
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NEWSPRING CHURCH
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER 1052699 WORKING NAMES Wakefield Covenant Community (Old Name) The King's Church, Wakefield (Old Name) START OF FINANCIAL YEAR 1st September 2022 END OF FINANCIAL YEAR 31st August 2023 TRUSTEES AT 31 AUGUST 2023 Adam Sessions Julia Ford John Mellor Robert Haley
The existing trustees appoint any new trustees following the provisions laid out in the Charity's governing instrument.
GOVERNING INSTRUMENT
The charity is controlled by its governing document, a deed of trust, dated 6th January 1996 as amended by supplemental deeds dated 1st June 1998, 3rd November 2013 and 23rd March 2014.
REGISTRATION DATE
6 February 1996:Standard Registration
OBJECTS
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The advancement of the Christian Faith.
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The relief of persons who are in conditions of need, hardship or distress or who are aged or sick.
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The advancement of education on the basis of Christian principles.
CORRESPONDENCE ADDRESS The Newspring Centre Illingworth Street Ossett West Yorkshire WF5 8AL PRIMARY BANKERS HSBC Bank plc 66 Westgate Wakefield West Yorkshire WF1 1XB Line 4 Postcode INDEPENDENT EXAMINER Donna Leppitt Independent Examiners Ltd Unit 2 The Broadridge Business Centre Delling Lane Bosham PO18 8NF
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NEWSPRING CHURCH
TRUSTEES' REPORT FOR THE YEAR ENDED 31ST AUGUST 2023
The Trustees present their annual report and financial statements of the charity for the year ended 31[st] August 2023.
AIMS AND OBJECTIVES
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The trust considers that it meets the Charity Commission Public Benefit Criteria. The Trust Deed dated 6[th] January 1996 set the 1 Advancement of the Christian Faith
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2 Worship and proclamation of the gospel, teaching of Christian doctrine and principles, distribution of literature and media 3 Relief of the poor, aged, or sick
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4 The advancement of Christian education
The charity primarily operates in the Wakefield area of West Yorkshire, but will sometimes work with, or otherwise support other churches in the UK and overseas with similar aims and objectives as the church leadership directs.
PUBLIC BENEFIT CRITERIA
The trustees regularly review the objectives and activities of the charity, including giving due regard to the Charity Commission’s general guidance on public benefit and on the advancement of religion for the public benefit.
Examples of how the Trust has met the Public Benefit Criteria:
Regular open public meetings, outreach and events with publicity and invitations circulated in the local area. Hospitality and refreshments are offered to all free of charge.
Ongoing provision of financial and practical assistance from the Trust and church members to local people in need, including regular support and donations to the local foodbank in Ossett.
Provision of financial aid overseas to the poor and those in adversity
Ongoing investment and refurbishment in the New Spring Centre to make it suitable and capable of hosting an increasing range of events and activities to benefit local people.
Providing facilities / accommodation from time to time, to local community groups and users for non-church related activities.
In this reporting year the church held a full calendar of services and meetings and also hosted other local groups such as the Brickhouse Youth Club, Local Vocals community choir and PCC community engagement meetings.
ORGANISATIONAL STRUCTURE
NewSpring Church is run on a day to day basis by an Eldership supported by Deacons, a Church Administrator and a team of volunteers. The Trustees meet regularly to discuss the business of the Church and to deal with the administration of the Charity. Agendas are prepared for meetings in advance, and minutes are taken recording matters of importance, note and/or points for action. Budgets will be discussed for projects, progammes and general church activities and the trustees track expenditure through the year. Key decisions are always made by the required quorum of trustees, except for certain minor urgent matters where two trustees may need to take decisions because it is not always possible or practical to convene the full group of trustees. In those instances, the remaining trustees are notified of decisions as soon as it is practical to do so. In recent years, the use of technology to facilitate virtual meetings at short notice and with the minimum inconvenience have become used more and more to help the trustees make quicker and more timely decisions in this respect. Trustees meeting began being virtual during 2020 and have continued since then, including during the reporting year, this being more convenient and cost effective.
In this financial year, the individuals receiving financial benefit from the charity are the Lead Elder, who is employed on a part time, self-employed basis, a part time church administrator and a part time caretaker. All of these roles are essential to the effective running of the church.
ACHIEVEMENT AND PERFORMANCE
Charitable Activities
The trustees are mindful that the activities carried out by the charity in pursuit of its charitable objectives should benefit the local community within which NewSpring Church is based, as well as regular members of the congregation.
The first few months of the reporting year saw the church and other building users able to benefit from the kitchen and dining development works that had been completed a couple of months earlier. The church started hosting lunches, but also the Brickhouse Youth Club and Jelly Babies mother and toddler group were able to utilise it for everything from making snacks to running baking classes for young people. There were a couple of successful Christmas events also held and well attended by children from the local community ‘Breakfast with Santa’ where gifts were given and drinks and snacks provided.
At the heart of what NewSpring does are the regular Sunday services, which is the centre of gravity for all church activity, and numbers attending have stabilised with new visitors continuing to join us, giving them a chance to explore the Christian faith for themselves first hand. Numbers fluctuate with the seasons, but it is not unusual to see 60+ people in attendance and it has been fantastic to welcome some new regular congregants this year.
NEWSPRING CHURCH
TRUSTEES' REPORT (Continued) FOR THE YEAR ENDED 31ST AUGUST 2023
FINANCIAL REVIEW
Charitable Activities (Continued)
Sunday meetings run on the normal format and some investment was made in camera equipment last year enabling us to video meetings for later distribution. There has been no obvious demand for live streaming, but we have that capability should it be required.
Following the successful completion of the kitchen and dining works, this year we were able to obtain a further capital grant of £15,000 from Wakefield Council under their Local Capital Grants Programme (LCGP) to assist us with window replacement in the main hall of the building. There are a series of large timber windows that must be replaced like for like due to the poor condition of the current windows and frames which were starting to be of concern from a safety perspective.
Towards the end of 2022, the trustees agreed that regular financial support for Catalyst would cease following the end of NewSpring Church’s association with that church network and it was agreed that the same level of support should be provided instead to the Ossett Foodbank who we have a good relationship with and have been supporting to some extent since the pandemic, previously in the main through actual donations of food from church members.
Key Groups and Activities:
Pastoral Groups - These are five main groups spread across Ossett, Wakefield and Castleford where church members live were continuing, gathering in homes where people share life with each other and seek to grow in faith together through small group teaching, prayer and encouragement, whilst also expressing God’s love to those they are connected with in their own neighbourhoods.
Mission Groups / Triplets – These are small groups who meet on the basis of friendship and interest and in the case of Mission Groups, seek to make have an outreach element, whether its getting involved in community sport or having a pub quiz team to bring God’s love into those places and to make the people of God more visible within the normal day to day social activities of Ossett and the surrounding area. These groups underwent some changes during the year and are likely to be reconstituted as we move forward in our mission to reach our neighbourhood and provide support to each other.
Prayer Meetings – The church meet on the first Wednesday of every month to pray together for a variety of needs, and to seek his grace and blessing on the chuch, the town and the wider world. There is also a week of fasting and daily prayer every January and this year was no exception, with all who were involved, greatly encouraged and stirred by God’s heart for his people.
Jelly Babies – run by church members, is a very successful and well attended weekly group for mothers and toddler in the locality to come for fellowship and support on a weekly basis. This year saw more new people joining and all regular attendees enjoying being together with their children in a supportive and encouraging environment.
Kingdom Heart – set up, and run by church members volunteering their time, together with money from the Seed Fund to provide support, aid and gifts to various groups and individuals were this Christmas again, able to provide ‘Blessing Hampers’ to a number of local families in need.
Ossett Foodbank – Fortnightly food collections from NewSpring were delivered to the Ossett Foodbank and this continued through the reporting year, added to with the commencement of regular monthly financial support. In addition there was a repeat of last years’ initiative to give gifts for children of users of the foodbank at Christmas time, with church members being incredibly generous and the church itself buying some gifts – together for circa 40 children of users of the foodbank .
Community Groups Hosted - example include:
The Brickhouse Youth Club – a large number of local young people 11-16 meet at the NewSpring Centre every Thursday evening where a range of activities are on offer, from baking, arts and crafts, table sports, video gaming, a homework club and many other fun things. The young people some from families across the area and a team of dedicated and talented volunteers ensure a safe and encouraging environment, which has successfully run for several years now.
Local Vocals - this successful pop choir has been meeting for several years now in our main auditorium on the first floor also on a Thursday night for their regular practices. They have many enthusiastic and talented singers who perform at events and functions in the local area.
Police and Communities Together (PACT) we provide facilities for these meetings which are held monthly at the Newspring Centre, giving local residents and chance to discuss local issues or concerns with representatives of West Yorkshire Police.
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NEWSPRING CHURCH
TRUSTEES' REPORT (Continued) FOR THE YEAR ENDED 31ST AUGUST 2023
FINANCIAL REVIEW
REVIEW OF YEAR ENDING 31[ST] AUGUST 2023
As in previous years, the giving of the church congregation has provided the vast majority of the income for the year and the increase in general unrestricted donation income during the reporting year was somewhat lower than the previous year (£95k versus £105k). Giving by the church congregation generally remained strong all year and the vast majority was given by bank transfer with the remainder coming in through the traditional Sunday offering baskets.
In the same way that income decreased, total expenditure this year was also lower but, albeit exceeding in-year income (£107k this year versus £149k) for previous year. Consequently the church current account which contains the unrestricted funds ended the financial year at a slightly higher level to the outset: £36k and £30k respectively.
The main points of note:
The decrease in donation income appears to be linked to a change in the numbers of regular donors reducing slightly together with the ability to claim gift aid reducing as more donors giving became ineligible for gift aid for various reasons. The charity’s costs also increased with additional energy costs – particularly increases in gas prices and a colder than usual winter. In addition there was significant expenditure on building works, part funded through a grant, but heavily contributed to from charity funds.
Expenditure on the building was higher this year as the £15k capital grant the church received for the first floor window works needed to be added to, to cover the full costs of those works, together extensive re-pointing to external masonry and almost five months of scaffolding hire costs, along with the usual raft of building repairs.
Payroll and wages outgoing rose slightly in year due to a salary review, not least due to there being no salary review for the previous two years due to the impact of the pandemic on church life and activity more widely.
The closure of the Resurrection Church account in the previous reporting year and cessation of financial support to that group and its related network (Catalyst) led to a much lower expenditure on ministry support.
The trustees made a decision in May 2023 to overpay periodically on the church mortgage given the escalation in interest rates over the foregoing months. That commenced in June and continues. The aim is to reduce the amount of interest being paid annually, reduce the overall mortgage term, whilst also further investigating the possibility of remortgaging at an improved rate for an even shorter term.
The trustees are satisfied that the finances of the Charity are stable and in good health at period end. The Charity remains able to pursue its stated aims and there is still a programme of building improvement works that will continue to run, but hopefully start to focus more on internal fabric and comfort rather than major external works. Those works will as far as possible will be financed through a balance of unrestricted funds for repairs and existing ‘Building Fund’ balances. This will be supplemented by grants or special offerings wherever possible, with the charity’s focus continuing to be people and activities/programmes/outreach.
RESTRICTED FUNDS
NewSpring held the following restricted funds in the reporting year:
The Big Project Fund
A fund established to hold donations grants and other income to be used for the development and improvement of the NewSpring Centre. It was originally established in September 2018.
Building Fund
This comprises earmarked giving by individuals who state at the point of donation (or in advance by way of a regular pledge) that they wish their donation(s) to be used for the development and improvement of the NewSpring Centre in accordance with the building projects and programmes that the elders and trustees decide to undertake to better help the charity meet its charitable objectives.
Seed Fund
Earmarked giving for individuals wishing their donation to be used for the purposes of the Seed Fund which is for meeting needs, alleviating poverty and associated charitable initiatives. The Elders may also from time to time decide to designate an amount of unrestrictive funds into the Seed Fund, which thereafter become restricted.
Accounting System
The Charity uses QuickBooks Online, streamlining and greatly simplifying the ongoing financial record keeping. The Trustees are very happy with the system that also handles payroll functions at minimal cost.
NEWSPRING CHURCH
TRUSTEES' REPORT (Continued) FOR THE YEAR ENDED 31ST AUGUST 2023
FINANCIAL CONTROLS
Management reports are issued monthly to the trustees to review income and expenditure, weekly updates on general levels of donations received and account movements are reviewed and discussed at trustee meetings with Finance, and upcoming commitments a fixed item on all trustee meeting agendas.
In terms of practicalities, the trustees review existing financial controls whenever there is a change of trustees or eldership, and decisions are required about who has account access, for what purpose and at what level, with the overall governing principle remaining, whereby a quorum of trustees are needed to approve expenditure.
The trustees reviewed financial controls in relation to bank account access and signing limits during the reporting year including changes of signatories on the current bank mandates.
RELATED PARTIES
None of the trustees receive any benefit or income from the charity, either financial or otherwise. The only payments that may occur from time to time are for reimbursement of receipted expenditure on items to be used by the Charity. This now reduces each year with the Charity purchasing more items directly itself.
VOLUNTEERS
NewSpring benefits from the time and talents of volunteers to put on meetings, events and other activities. These individuals are almost entirely made up of members of the congregation and the purpose of volunteer participation is not related to fundraising for the charity. The duties the volunteers undertake are relatively informal and unstructured and include stewarding meetings, greeting attendees, putting out chairs, and serving refreshments, etc. as and when physical meetings have been permissible. All volunteers are DBS checked and work in pairs where deemed necessary and appropriate.
RESERVES POLICY
The trustees consider it prudent to set aside an amount of money that would allow it to continue to operate for three months if income reduced or ceased with little prior notice. The trust does carry a balance at year end sufficient to cover a three month period in terms of essential base spending: mortgage, insurances, salaries and utilities. At financial year end that amount was determined to be no more than £4k per month. Any reserves policy is to be kept under review and as always, has had to be balanced against the general default position of the trustees, which is not to accumulate or carry excessive balances, as the money received has been given for charitable purposes, not for holding. During the reporting year the trustees closely monitored the financial position of the charity, but the donation income has strengthened with more than six months outgoing in unrestricted, otherwise uncommitted funds. The trustees see no current need to reconsider or amend the reserves policy.
RISK MANAGEMENT & SAFEGUARDING
The trustees regularly review its insurance cover in place and are satisfied that the current policies it holds provides adequate cover for all the Charity’s liabilities, including trustee liability. The trustee responsible for the upkeep of the accounts is an accountant and issues monthly management reports for review and discussion as necessary. Appropriate DBS checks are carried out for those working with children or other vulnerable groups within the context of the Charity’s activities. The safeguarding policy underwent a comprehensive review in spring 2023 and a revised policy and Code of Conduct was approved by the trustees and implemented towards the end of the reporting year, with new safeguarding leads taking up their roles and future training needs for current and new volunteers also being considered.
Risk Assessments are also carried out for all the regular activities undertaken by the church both in the context of church meetings, and office/staff activity.
PRINCIPAL FUNDING SOURCES
The principal sources of funding for the charity are the regular and individual gifts from church members and the consequential Gift Aid which the charity is able to reclaim from HMRC. The church had also been in receipt of a capital grant during the reporting year.
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NEWSPRING CHURCH
INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS FOR THE YEAR ENDED 31ST AUGUST 2023
Report to the trustees/ members of Newspring Church on the accounts for the year ended 31st August 2023.
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 2022 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act,
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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
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to state whether particular matters have come to my attention.
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
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which gives me reasonable cause to believe that in, any material respect, the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
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have not been met; or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Donna Leppitt Independent Examiners Ltd Unit 2 The Broadridge Business Centre Delling Lane Bosham PO18 8NF Date: 18th June 2024
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NEWSPRING CHURCH
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2023
| Notes INCOMING RESOURCES Donations & Legacies 3a Investment Income 3b Charitable Activities 3c Other Income 3d Other Incoming Resources 3e TOTAL INCOMING RESOURCES Costs of Charitable Activities 4 NET INCOMING/(OUTGOING) RESOURCES TOTAL FUNDS BROUGHT FORWARD Prior Year adjustment TOTAL FUNDS CARRIED FORWARD NET MOVEMENT IN FUNDS TOTAL RESOURCES EXPENDED TRANSFERS BETWEEN FUNDS RESOURCES EXPENDED |
Unrestricted Restricted Designated Total Total Funds Funds Funds 2022/23 2021/22 £ £ £ £ 95,279 16,996 - 112,275 121,055 194 130 - 324 8 3,021 - - 3,021 13,157 - - - - 2,413 - - - - 15,207 |
|---|---|
| 98,495 17,126 - 115,620 151,840 |
|
| 57,176 45,590 4,664 107,430 149,024 |
|
| 57,176 45,590 4,664 107,430 149,024 |
|
| 41,318 (28,465) (4,664) 8,190 2,816 - - - - - |
|
| 41,318 (28,465) (4,664) 8,190 2,816 |
|
| 161,460 48,742 6,081 216,283 213,404 - - - - 63 |
|
| 202,779 20,278 1,417 224,473 216,283 |
All of the Charity's operations are classed as continuing operations.
The notes form part of these financial statements, found on pages:-
10 to 18
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NEWSPRIPIG CHURCH BALAIKE SHEEr ASAT JI AuGl 2023 RESTAfED Tot•1 Unre5trtal Re5trtt Fund Fun¢5 Totsl Tanobbè Assets Inve5Ement Assets 327.832 32732 338,428 327 J27 Debtrxs & Cash at bk bl hd 809 71264 11,622 58.533 51.087 20278 An due Le 21.844 21,844 21,671 38,052 20.278 58,329 48,484 TOTAL ASStTS1255 currwit WJ•5 ¥274 3•4162 314912 Crndtw. due in mtye me ye 161.688 161ffi88 170,629 FUMDS OF THE cHAiirrY Gen Funds Restrttoj fijnds OesbJned Funds 202.779 202.779 20,278 161.460 48,742 6,081 20.Z78 TOTAL FUNDS 196 21 17.16..ILoZ..........__...._...--...-......-..........-....-....- prwj by theTrustets thL....-........ ...... .. S¥n•Y cffj th behafby Tniste&............. . Prknt N•ne.'
NEWSPRING CHURCH
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST AUGUST 2023
1. ACCOUNTING POLICIES
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year.
Basis of preparation:
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. The financial statements 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 (FRS102) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2022.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
Assessment of Going Concern
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.
Recognition of Incoming Resources
These are included in the Statement of Financial Activities (SOFA) when:
- the charity becomes entitled to the resources;
· the trustees are virtually certain they will receive the resources; and
· the monetary value can be measured with sufficient reliability.
Incoming Resources with Related expenditure
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resources and related expenditure are reported gross in the SOFA.
Grants and Donations
Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Tax Reclaims on Donations and Gifts
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
Contractual Income and Performance Related Grants
This is only included in the SOFA once the related goods or services has been delivered.
Gifts in Kind
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as income receivable.
Volunteer Help
The value of any voluntary help received is not included in the accounts and is described in the Report of the Trustees.
Donated Services and Facilities
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
Investment Income
This is included in the accounts when receivable.
Investment Gains and Losses
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
This page does not form part of the statutory financial statements
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NEWSPRING CHURCH
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST AUGUST 2023
1. ACCOUNTING POLICIES (continued)
Expenditure and Liabilities
Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Governance Costs
Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advise to trustees on governance or constitutional matters.
Grants with Performance Conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
Grants Payable without Performance Conditions
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
Investments
Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.
Pensions
Pension contributions are charged to the Statement of Financial Activities as they become payable.
Fund Accounting
Funds held by the charity are either:
1. Unrestricted funds
These are funds which can be used in accordance with the charity's objectives, at the discretion of the trustees.
2. Restricted funds
These are funds that can only be used for particular restricted purposes within the objects of the charity.
3. Endowment funds
These funds are funds set aside by the trustees out of unrestricted general funds for specific purposes or projects.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Fixed Assets
Fixed Assets are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt.
Depreciation Expense
Depreciation is calculated at a rate to write off the cost of tangible fixed assets over their estimated useful lives. The rates applied are as follows:
General Equipment 20% Straight Line Basis Fixtures & Fittings & Big Project costs 10% Straight Line Basis Land & Buildings 33% Straight Line Basis
There has been no change to the accounting polices (Variation rules and methods of accounting) since last year.
This page does not form part of the statutory financial statements
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NEWSPRING CHURCH
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST AUGUST 2023
2. TANGIBLE FIXED ASSETS
| Additions Cost At 1 September 2022 At 31 August 2023 Net Book Value At 31 August 2023 At 31 August 2022 At 31 August 2023 Accumulated Depreciation At 1 September 2022 Charge for the Year |
Land & Buildings Fixtures & Fittings & Big Project costs General Equipment 2022/23 £ £ £ £ 270,000 110,376 22,696 403,072 - 2,280 - 2,280 |
|---|---|
| 270,000 112,655 22,696 405,351 |
|
| - 43,926 20,717 64,643 - 11,914 961 12,875 |
|
| - 55,841 21,678 77,519 |
|
| 270,000 56,815 1,018 327,832 |
|
| 270,000 66,449 1,979 338,428 |
The annual commitments under non-cancelling operating leases and capital commitments are as follows:
31st August 2023 : None 31st August 2022 : None
This page does not form part of the statutory financial statements
12
NEWSPRING CHURCH
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST AUGUST 2023
3. INCOMING RESOURCES
| Note c) Incoming from Charitable Activities d) Other Trading Activities a) Donations & Legacies Tithes, gifts and offerings Gifts & Donations Gift Aid Tax Refund Building Fund Donations Grant towards building works Wakefield Church Plant Income Room Hire Income Room Hire b) Investment Income Interest Received Other income e) Other Incoming Resources Other Income |
Unrestricted Restricted Designated Total Total Funds Funds Funds 2022/23 2021/22 £ £ £ £ 95,272 - - 95,272 104,462 8 1,516 - 1,524 1,124 - - - - 14,640 - 480 - 480 830 - 15,000 - 15,000 - |
|---|---|
| 95,279 16,996 - 112,275 121,055 |
|
| 194 130 - 324 8 |
|
| 194 130 - 324 8 |
|
| - - - - 13,157 2,535 - - 2,535 - 486 - - 486 - |
|
| 3,021 - - 3,021 13,157 |
|
| - - - - 2,413 |
|
| - - - - 2,413 |
|
| - - - - 15,207 |
|
| - - - - 15,207 |
This page does not form part of the statutory financial statements
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NEWSPRING CHURCH
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST AUGUST 2023
4. RESOURCES EXPENDED
| 4. RESOURCES EXPENDED | |
|---|---|
| Note Independent Examiner Fee Insurance Costs Bank & Interest Charges Church Meeting Costs Conference & Seminar Costs Depreciation Expenses Equipment Costs Grant to Freedom Church Charitable Activities:- Activities & Events Building Repairs & Maintenance Refreshments & catering Staff Sunday School & Youth work Training License & Subscriptions Ministry Expenses Ministry Gifts Ministry Support Office Outreach & Evangelism Utilities Wakefield Church Plant Sundries Mortgage payments Governance costs:- |
Unrestricted Restricted Designated Total Total Funds Funds Funds 2022/23 2021/22 £ £ £ £ - - - - 203 2,135 32,846 - 34,981 4,084 510 281 - 791 545 2,214 - - 2,214 308 5,620 7,255 - 12,875 12,418 148 1,869 - 2,016 1,690 - - - - 36,840 1,506 787 - 2,293 1,321 453 - - 453 320 - 1,164 4,664 5,828 3,814 10,936 - - 10,936 21,007 127 - - 127 55 713 - - 713 573 12 11 - 23 231 8,368 - - 8,368 8,182 - 193 - 193 231 832 1,098 - 1,929 1,118 4,584 - - 4,584 2,874 - - - - 36,398 72 87 - 159 131 15,884 - - 15,884 13,180 1,260 - - 1,260 1,765 1,698 - - 1,698 1,573 107 - - 107 165 |
| 57,176 45,590 4,664 107,430 149,024 |
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NEWSPRING CHURCH
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST AUGUST 2023
5. RESTRICTED FUNDS
CURRENT FINANCIAL YEAR
| PREVIOUS FINANCIAL YEAR Big Project Fund Outreach Fund Other Earmarked Gifts/Gift aid refund Building Fund Total Restricted Other Building Fund Big Project Fund Wakefield Church Plant Outreach Fund Visiting Speaker Funds Other Earmarked Gifts/Gift aid refund Total Restricted |
Balance Unrealised Balance 01-Sep-22 Income Expenditure Gain/Loss Transfer 31-Aug-23 £ £ £ £ £ £ 47,603 15,130 (30,726) - - 32,007 313 - - - - 313 16 1,516 (3,620) - - (2,088) 811 480 (11,244) - - (9,954) - - - - - - |
|---|---|
| 48,742 17,126 (45,590) - - 20,278 |
|
| Balance Unrealised 01-Sep-21 Income Expenditure Gain/Loss Transfer 31-Aug-22 £ £ £ £ £ £ 29,040 15,204 (9,733) - 13,093 47,603 42,710 13,960 (19,830) - (36,840) - 313 - - - - 313 - 165 (165) - - - 16 795 (795) - - 16 - 830 (20) - - 811 |
|
| 72,078 30,954 (30,542) - (23,748) 48,742 |
The Restricted Funds are wholly represented by the Charity's cash reserves and are to be expended as specified above.
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NEWSPRING CHURCH
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST AUGUST 2023
6. DESIGNATED FUNDS
CURRENT FINANCIAL YEAR
| Seed Fund Total Unrestricted (Incl. Designated Funds) Total Designated Funds General Funds |
Balance Unrealised Balance 01-Sep-22 Income Expenditure Gain/Loss Transfer 31-Aug-23 £ £ £ £ £ £ 6,081 - (4,664) - - 1,417 |
|---|---|
| 6,081 - (4,664) - - 1,417 161,460 98,495 (57,176) - - 202,779 |
|
| 167,541 98,495 (61,840) - - 204,196 |
PREVIOUS FINANCIAL YEAR
| Total Unrestricted (Incl. Designated Funds) Seed Fund Total Designated Funds General Funds |
Balance Unrealised 01-Sep-21 Income Expenditure Gain/Loss Transfer 31-Aug-22 £ £ £ £ £ 4,283 5,223 (3,425) - - 6,081 - |
|---|---|
| 4,283 5,223 (3,425) - - 6,081 137,107 115,663 (115,057) - 23,748 161,460 |
|
| 141,389 120,886 (118,482) - 23,748 167,541 |
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NEWSPRING CHURCH
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST AUGUST 2023
7. INVESTMENTS
The Charity held no investment assets during this or the previous financial period.
8. CASH AT BANK AND IN HAND
| 8. CASH AT BANK AND IN HAND | |
|---|---|
| Big Project A/c Savings A/c Current A/c Temporary Cash floats Petty Cash |
Unrestricted Restricted Designated Total Total Funds Funds Funds 31-Aug-23 31-Aug-22 £ £ £ £ (6,674) 20,278 1,417 15,020 7,956 19,945 - - 19,945 20,001 35,869 - - 35,869 30,217 167 - - 167 360 362 - - 362 - |
| 49,669 20,278 1,417 71,364 58,533 |
9. DEBTORS AND PREPAYMENTS
| Temporary suspense a/c Trade Debtors |
Unrestricted Restricted Designated Total Total Funds Funds Funds 31-Aug-23 31-Aug-22 £ £ £ £ 23 - - 23 - 8,786 - - 8,786 11,622 |
|---|---|
| 8,809 - - 8,809 11,622 |
10. CREDITORS AND ACCRUALS AMOUNTS FALLING DUE WITHIN ONE YEAR
| Deferred Grants Kingdom Bank Mortgage Sundry Creditors Independent Examiner's Fee |
Unrestricted Restricted Designated Total Total Funds Funds Funds 31-Aug-23 31-Aug-22 £ £ £ £ 472 - - 472 665 19,940 - - 19,940 17,595 172 - - 172 2,182 1,260 - - 1,260 1,230 |
|---|---|
| 21,844 - - 21,844 21,671 |
11. CREDITORS AND ACCRUALS AMOUNTS FALLING DUE IN MORE THAN ONE YEAR
| Kingdom Bank Mortgage | Unrestricted Restricted Designated Total Total Funds Funds Funds 31-Aug-23 31-Aug-22 £ £ £ £ 161,688 - - 161,688 170,629 |
|---|---|
| 161,688 - - 161,688 170,629 |
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NEWSPRING CHURCH
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST AUGUST 2023
12. STAFF COSTS AND NUMBERS
| TOTAL 2022/23 £ Gross Wages & Salaries 8,368 Employer's National Insurance Costs - Employer's Pension Contributions - 8,368 Average number of employees who were engaged in each of the following activities: TOTAL 2022/23 Charitable Activities 2 2 |
TOTAL 2021/22 £ 8,182 - - |
|---|---|
| 8,182 | |
| TOTAL 2021/22 2 |
|
| 2 |
The Charity operates a PAYE scheme to pay all employed members of staff and no employees received emoluments in excess of £60,000.
(2021/22 - None)
13. TRUSTEES AND OTHER RELATED PARTIES
No payments were made to trustees or any persons connected with them during this financial period. No material transaction took place between the organisation and a trustee or any person connected with them.
(2021/22 - None)
14. RISK ASSESSMENT
The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
15. RESERVES POLICY
The Trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The Trustees aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily.
16. PUBLIC BENEFIT
The Charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Trustees' report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.
17. PRIOR YEAR ADJUSTMENT
The funds brought forward have been adjusted by £62 from £216,221 to £216,283 and cash at bank and in hand from £58,471 to £58,533 to reflect a true and fair view of the Charity's closing position as at 31st August 2023 re 07/04/2022 Expense recorded for Cathedral Hygiene Services £62.393, after it remained uncleared it came to light this money was not owed, so the entry was deleted.
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