Annual Report for the year ended 31st December 2020
1. Legal and Administrative Details
The church is a Registered Charity (no. 1054329) with the name “King’s Church Cambridge.” The church is in fellowship with the Assemblies of God in Great Britain and Ireland. The Managing Trustees of King’s Church Cambridge are the “Church Council.” In 2020 these were:
Philip Shaw (trustee and chairman) Jean-Louis Beng Elouga Jerron Okai
The church's property is vested in the Holding Trustees, overseen by Property Trust, Nottingham. New trustees are each appointed by the existing trustees. The Church is governed by a Trust Deed dated 9[th] January 2009. In accordance with the provisions of the Deed, the Managing Trustees have written a Management Document, which they have adopted as the Church’s subsidiary constitution. The principal address of the Church is King’s Church Cambridge, 49-53 Tenison Road, Cambridge, CB1 2DG. The Church banker is Lloyd's Bank, Sidney Street, Cambridge, CB2 3HQ. The Independent Examiner of the Church's accounts for the 2020 financial year was Mr Geoff Mann.
2. Objects of the church
The objects of the Church ("The objects") 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 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 world as the Church Council from time to time may think fit; and
-
(C) To advance education in such ways and in such parts of the United Kingdom or world as the Church Council from time to time may think fit.
3. Organisation
The Church leaders are appointed to guard, direct, teach and equip the members of King’s Church Cambridge so that they might be cared for, supported, and mobilised into charitable action (Acts 20:28; Ephesians 4:11-13; 1 Peter 5:1-4). The leaders give various members of King’s Church Cambridge areas of responsibility to help achieve our objects (cf. Acts 6:1-7). Throughout 2020, the church had two paid staff: Philip Shaw (Senior Minister) and Joanne Lee (Centre Manager). Both staff are employed on a full-time basis. All work done by members of the congregation outside this paid employment is carried out on a voluntary basis. This includes teams who help run the Sunday services, clean and care for the building and assist in the running of community groups throughout the week. Currently our voluntary team members consist of approximately 50-60 people.
For a further detailing of our organisation and operation, see the Trust Deed and the Management Document.
4. Objectives
Our objectives are:
(i) To meet together, worship God, encourage one another, and prepare to reach and help others.
(ii) To retain and maintain the Church property (49-53 Tenison Road, Cambridge).
(iii) To enable and facilitate the provision of ministry, both paid and unpaid.
(iv) To undertake activities that meet spiritual and/or social needs.
- (v) To aim to give a percentage of our gross income to such activities, projects or ministries outside of
King’s Church Cambridge that are in agreement with our objects.
(vi) To further the work and vision of Assemblies of God in Great Britain.
5. Policies
Our policies are:
-
1) Health and Safety Policy
-
2) GDPR and Personal Data Handling Policy
-
3) Social Media Usage Policy
-
4) Safeguarding Policy
-
5) Financial Reserves Policy
-
6) Gifts and Donations Policy
6. Activities
In March 2020 the Board of Trustees (BoT) faced the challenges of the worldwide Covid-19 pandemic which brought our in person interaction to a complete standstill. Following this, on the evening of Tuesday 17[th] March, the BoT took the decision to suspend all in person services and the use of our public community centre in line with the Government guidance regarding the apparent health risks of Covid-19.
From the 17[th] March 2020 through to Sunday 27[th] June 2021, the church remained closed to all in person activity and, as an alternative, we made the decision to broadcast all our services during this time via both YouTube and Facebook. In addition, all of our face to face regular midweek meetings were moved online where possible in order to keep in contact with our congregation and members of our community and other organisations that we work alongside with using applications like Zoom and various methods to maintain the best communications possible.
Whilst the year has presented some of the most significant practical challenges we have ever faced as a charity, the BoT were very encouraged to see a continued engagement from its members and those who reached out to us from the local community as well as overseas in some cases. With online interaction being our primary method of communication to support our members and those seeking help, the BoT made the decision to financially invest further into the technical equipment required to create a better user experience and engagement for online broadcasts which we called KCTV and thus develop an offering that would be future proofed for both in person and online interactivity.
The BoT are both encouraged and happy at the result of our new KCTV installation that has provided a more improved experience and opportunity for both young and older people to join our new media team and learn new skills in media which we provide training for.
We are confident that this will now provide greater flexibility to reach out to our community but also translate into greater opportunities for people to get involved in our charity and enable King’s Church to engage much better with those who may suffer from isolation or even mental illness due to the Covid-19 lockdowns and restrictions or provide the much needed help to directly support and connect with people who are still encouraged to shield and stay away from public gatherings.
Whilst our in person interaction was dramatically reduced, the BoT were satisfied with the Church Leadership’s endeavour to set up a COVID-19 fund and also to reach out to many people and families on a pastoral level to discuss their well being and help them remain connected. The BoT also was willing to continue to financially support and help other charities with their humanitarion aid overseas. This is part of our stated governance objectives and as our activities began to regain momentum, it was clear to receive positive update of the impact made through our financial support eg the BoT were glad to have supported and helped One by One charity (charity number 1145034) for their Pakistan appeal in May 2021 that provided on the ground support and care for children encountering slavery in brick factories across Pakistan. In addition, the BoT also made the decision to support the AoG (Assemblies of God) Afghanistan Appeal to help those suffering the recent harrowing events that took place following the US withdrawal from Afghanistan.
In summary, the BoT agree that despite the constraints on in person interaction, they have witnessed a great year of connectivity and engagement through going online that has been reflected in our charitable donations received through this period. The BoT are greatly optimistic about the vision and direction of the charity and its aims as they seek to develop a way forward in the ongoing challenges of a pandemic that still affects society – as a whole – to this day.
7. Financial Situation
King’s Church Reserve Policy
In order to abide with the statutory and regulatory requirements and to be in line with our own internal financial due diligence, the BoT has decided to adjust their financial reserves amount to £39,000 per annum. In addition, the BoT has decided to further put £40,000 aside as designated funds to support our agenda to further enhance the building capacity and operational set up to ensure more space can be provided to support the activities of the charity, especially as we consider a youth centre among others. This money should help cater for increasing demands that we have observed on our set up and offering for children, youth and young adults in our community. The BoT will review yearly the suitability of these figures as we map out the deliverables for the medium term (2 to 5 years)
In 2020 the charity’s unrestricted income was £198,189 against £185,396 in 2019, an increase of £12,793. The unrestricted expenditure was £138,192 against £178,536 in 2019, a decrease of £40,344. Total end of year reserves increased from £478,777 in 2019 to £538,774 in 2020, an increase of £59,997. £426,358 of the year end reserves at 31 December 2020 were tied up in Fixed Assets leaving free reserves at that point of £112,416 which is in excess of the reserves policy outlined above. The trustees would like to put on record their thanks to the Treasurer for his hard work in looking after the finances of the charity.
Signed on behalf of the Trustees:
………...…………………………………………………………………………………..Philip Shaw, Trustee Chairman ................................................................. 11October 2021
KING'S CHURCH CAMBRIDGE
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020
CONTENTS AND CHARITY INFORMATION
| CONTENTS | PAGE | ||
|---|---|---|---|
| Report of the Trustees | 1 and 2 | ||
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Accounts | 6 to 10 | ||
| MANAGING TRUSTEES | Jean-Louis Beng Elouga | ||
| Stephen Cassidy | (resigned) | ||
| Jerron Okai | |||
| Philip Shaw | |||
| MINISTER | Philip Shaw | ||
| HOLDING TRUSTEES | Jean-Louis Beng Elouga | ||
| Stephen Cassidy | (resigned) | ||
| Jerron Okai | |||
| Philip Shaw | |||
| ADDRESS | 49-53 Tenison Road | ||
| Cambridge | |||
| CB1 2DG | |||
| CHARITY REGISTRATION NUMBER | 1054329 | ||
| INDEPENDENT EXAMINER | Geoff Mann FCIE | ||
| Geoff Mann Limited | |||
| Dee House | |||
| Highworth Avenue | |||
| Cambridge | |||
| CB4 2BQ | |||
| BANKERS | Lloyds TSB Bank plc | ||
| Sidney Street | |||
| Cambridge | |||
| CB1 2DG |
KING'S CHURCH CAMBRIDGE
PAGE 1
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020
REPORT OF THE TRUSTEES
The trustees present their report and the accounts for the year ended 31 December 2020.
The accounts comply with the Charities Act 2011 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)
STATEMENT OF TRUSTEES RESPONSIBILITIES
Charity law requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the Church and of the surplus or deficit of the charity for that year.
In preparing those accounts, the trustees are required to:
-
(i) Select suitable accounting policies and apply them consistently.
-
(ii) Make judgements and estimates that are reasonable and prudent.
-
(iii) Prepare the accounts on the going concern basis unless it is inappropriate to presume that the Church will continue in business.
-
(iv) Observe the methods and principals of the Charities SORP.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time, the financial position of the Church and to enable them to ensure that the accounts comply with the Charities Act 2011.
They are also responsible for safeguarding the assets of the Church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Church is governed by a model trust deed for Assemblies of God Churches which was adopted on 9 January 2009, and is affiliated to the Assemblies of God in Great Britain and Ireland.
Appointment of trustees
New trustees are appointed by a majority of trustees in office at that time.
KING'S CHURCH CAMBRIDGE
PAGE 2
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020
REPORT OF THE TRUSTEES
Trustee induction and training
The trustees are currently reviewing the procedures in place for trustee induction and training by reference to guidance published by the Charity Commission.
Organisational structure
The trustees set out the general policy of the charity. The day to day affairs of the charity are run by the minister.
OBJECTS AND ACTIVITIES
The object of the Church is the advancement of the Christian religion by the proclamation and furtherance of the Gospel of God concerning His Son the Lord Jesus Christ, and the preaching and teaching of the Word of God by the Church in accordance with the Statement of Faith of Assemblies of God in Great Britain and Ireland as approved by the General Council from time to time.
ACHIEVEMENTS AND PERFORMANCE
These are covered by the Charity's Annual Report.
FINANCIAL REVIEW
These are covered by the Charity's Annual Report.
FUTURE DEVELOPMENTS
These are covered by the Charity's Annual Report.
This report was approved by the trustees on 11 October 2021 and signed on their behalf.
PHILIP SHAW TRUSTEE
PAGE 3
KING'S CHURCH CAMBRIDGE
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF KING'S CHURCH CAMBRIDGE
I report on the accounts of the Church for the year ended 31 December 2020, which are set out on pages 4 to 9.
RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND THE EXAMINER
As the Church's trustees you are responsible for the preparation of the accounts; you consider that the audit requirement of section 144(2) of the Charities Act 2011 (the Act) does not apply. It is my responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under section 145(5)(b) of the Act, whether particular matters have come to my attention.
BASIS OF INDEPENDENT EXAMINER'S REPORT
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. 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 you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts
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
-
to keep accounting records in accordance with section 130 of the Act: and
-
to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act
have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Geoff Mann FCIE Geoff Mann Limited Dee House Highworth Avenue Cambridge CB4 2BQ
PAGE 4
KING'S CHURCH CAMBRIDGE
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020
STATEMENT OF FINANCIAL ACTIVITIES
| 2020 | 2020 | 2019 | ||||
|---|---|---|---|---|---|---|
| General | Designated | Restricted | Total | Unrestricted | ||
| Funds | Funds | Funds | Funds | Funds | ||
| Notes | £ | £ | £ | £ | £ | |
| INCOME | ||||||
| Gift Aid Tax Recovered | 20,151 | 0 | 0 | 20,151 | 18,352 | |
| Offerings | 172,869 | 0 | 0 | 172,869 | 158,278 | |
| Rental income | 5,169 | 0 | 0 | 5,169 | 8,766 | |
| ----------- | ----------- | ----------- | ----------- | ----------- | ||
| TOTAL INCOME | 1 | 198,189 | 0 | 0 | 198,189 | 185,396 |
| ----------- | ----------- | ----------- | ----------- | ----------- | ||
| EXPENDITURE | ||||||
| Charitable Expenditure | ||||||
| Church Operating Costs | 29,045 | 0 | 0 | 29,045 | 39,147 | |
| Grants Payable | 4,688 | 0 | 0 | 4,688 | 4,327 | |
| Management and Administration | 11,665 | 0 | 0 | 11,665 | 18,196 | |
| Ministry | 92,794 | 0 | 0 | 92,794 | 116,866 | |
| ----------- | ----------- | ----------- | ----------- | ----------- | ||
| TOTAL EXPENDITURE | 2 | 138,192 | 0 | 0 | 138,192 | 178,536 |
| ----------- | ----------- | ----------- | ----------- | ----------- | ||
| 59,997 | 0 | 0 | 59,997 | 6,860 | ||
| TRANSFERS | 1(i) | -2,485 | 2,485 | 0 | 0 | 0 |
| ----------- | ----------- | ----------- | ----------- | ----------- | ||
| NET INCOME/(EXPENDITURE) AND | ||||||
| NET MOVEMENT IN FUNDS FOR THE YEAR | 57,512 | 2,485 | 0 | 59,997 | 6,860 | |
| RECONCILIATION OF FUNDS | ||||||
| TOTAL FUNDS BROUGHT FORWARD | 54,904 | 281,181 | 142,692 | 478,777 | 471,917 | |
| ----------- | ----------- | ----------- | ----------- | ----------- | ||
| TOTAL FUNDS CARRIED FORWARD | 112,416 | 283,666 | 142,692 | 538,774 | 478,777 | |
| ----------- | ----------- | ----------- | ----------- | ----------- |
STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES
There were no recognised gains or losses for 2020 or 2019 other than those included in the Statement of Financial Activities.
KING'S CHURCH CAMBRIDGE
PAGE 5
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020
BALANCE SHEET
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible assets | 4 | 470,149 | 470,149 | ||
| ----------- | ----------- | ||||
| TOTAL FIXED ASSETS | 470,149 | 470,149 | |||
| CURRENT ASSETS | |||||
| Debtors | 5 | 5,000 | 6,733 | ||
| Cash at bank | 126,185 | 50,161 | |||
| ----------- | ----------- | ||||
| TOTAL CURRENT ASSETS | 131,185 | 56,894 | |||
| LIABILITIES | |||||
| CREDITORS: amounts falling due | |||||
| within one year | 6 | 21,269 | 12,992 | ||
| ----------- | ----------- | ||||
| NET CURRENT ASSETS | 109,916 | 43,902 | |||
| ----------- | ----------- | ||||
| 580,065 | 514,051 | ||||
| CREDITORS: amounts falling due | |||||
| after one year | 6 | 41,291 | 44,176 | ||
| ----------- | ----------- | ||||
| NET ASSETS | 538,774 | 469,875 | |||
| ----------- | ----------- | ||||
| THE FUNDS OF THE CHARITY | |||||
| General Funds | 112,416 | 50,399 | |||
| Designated Funds | 283,666 | 278,826 | |||
| ----------- | ----------- | ||||
| Unrestricted Funds | 396,082 | 329,225 | |||
| Restricted Funds | 142,692 | 142,692 | |||
| ----------- | ----------- | ||||
| TOTAL CHARITY FUNDS | 538,774 | 471,917 | |||
| ----------- | ----------- |
The accounts were approved by the trustees on 11 October 2021 and signed on their behalf.
PHILIP SHAW TRUSTEE
KING'S CHURCH CAMBRIDGE
PAGE 6
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020
NOTES TO THE ACCOUNTS
1 ACCOUNTING POLICIES
(a) BASIS OF PREPARATION OF 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.
King's Church Cambridge meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
(b) INCOME
This is credited to the Statement of Financial Activities in the year to which it relates.
(c) EXPENDITURE
Includes all expenditure incurred in pursuing the charity's objectives, other than that which has been capitalised.
(d) CHURCH BUILDING
The trustees consider that the market value of the Church Building is in excess of its cost as shown in the accounts, and that in view of this there is no necessity to charge depreciation on the Building.
(e) DEPRECIATION
Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows:
Heating system 25% straight line basis Moveable equipment 25% straight line basis
Only purchases in excess of £500 are capitalised.
KING'S CHURCH CAMBRIDGE
PAGE 7
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020
NOTES TO THE ACCOUNTS
(f) DEBTORS
Trade debtors and other debtors are recognised at their settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discount due.
(g) CREDITORS AND PROVISIONS
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
(h) 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.
(i) TRANSFERS
A designated fund has been set up so that the charity's unrestricted funds not committed or invested in tangible fixed assets can be identified separately as general funds. Transfers are made annually to or from this designated fund to allow the general fund to be identified.
PAGE 8
KING'S CHURCH CAMBRIDGE
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020
NOTES TO THE ACCOUNTS
| 2 | EXPENDITURE | 2020 | 2019 | |
|---|---|---|---|---|
| £ | £ | |||
| Ministry | Humanitarian fundraising | 3,000 | 0 | |
| Publicity and ministry support costs | 4,596 | 9,899 | ||
| Salaries | 68,346 | 66,301 | ||
| Speaker gifts, hospitality and | ||||
| mission donations | 16,753 | 40,146 | ||
| Travelling Expenses | 99 | 520 | ||
| ----------- | ----------- | |||
| 92,794 | 116,866 | |||
| ----------- | ----------- | |||
| Grants Payable | Assemblies of God Projects | 4,688 | 4,327 | |
| ----------- | ----------- | |||
| Church Operating Costs | Developments and improvements | 12,518 | 19,814 | |
| Gas, Electricity and Water | 4,648 | 5,444 | ||
| Insurance | 1,546 | 1,467 | ||
| Repairs and Maintenance | 10,333 | 12,422 | ||
| ----------- | ----------- | |||
| 29,045 | 39,147 | |||
| ----------- | ----------- | |||
| Management and Administration | Bank and Gift Aid Charges | 1,721 | 1,879 | |
| Cleaning | 536 | 1,152 | ||
| Independent Examination | 736 | 720 | ||
| Mortgage interest | 2,545 | 2,675 | ||
| Other Costs | 678 | 690 | ||
| Postage and Stationery | 336 | 656 | ||
| Refreshments | 1,023 | 5,361 | ||
| Telephone | 1,360 | 1,118 | ||
| Training | 1,479 | 2,188 | ||
| Website | 1,251 | 1,757 | ||
| ----------- | ----------- | |||
| 11,665 | 18,196 | |||
| ----------- | ----------- | |||
| TOTAL EXPENDITURE | 138,192 | 178,536 | ||
| ----------- | ----------- |
KING'S CHURCH CAMBRIDGE
PAGE 9
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020
NOTES TO THE ACCOUNTS
3 STAFF COSTS
The minister of the Church is also one of its trustees. He was paid a salary as outlined below in his capacity as minister of the church and not in his capacity as a trustee. Expenses totalling £520 (2019 - £520) were also reimbursed to him. No expenses were reimbursed to any of the other trustees.
| The staff costs were: | 2020 | 2019 |
|---|---|---|
| £ | £ | |
| Wages and salaries | 61,845 | 60,529 |
| Social security costs | 2,701 | 2,986 |
| Other pension costs | 3,800 | 2,786 |
| ----------- |
----------- | |
| 68,346 | 66,301 | |
| ----------- |
----------- |
The average weekly number of staff employed by the charity during the year was 2 (2019 - 2)
4
| FIXED ASSETS | Church | Building | Moveable | Total | |
|---|---|---|---|---|---|
| Buildings | improvements | Equipment | |||
| £ | £ | £ | £ | ||
| COST | Balance at 01.01.20 | 200,000 | 270,149 | 22,963 | 493,112 |
| Additions | 0 | 0 | 0 | 0 | |
| Disposals | 0 | 0 | 0 | 0 | |
| ----------- | ----------- | ----------- |
----------- | ||
| Balance at 31.12.20 | 200,000 | 270,149 | 22,963 | 493,112 | |
| ----------- | ----------- | ----------- |
----------- | ||
| DEPRECIATION | Balance at 01.01.20 | 0 | 0 | 22,963 | 22,963 |
| Depeciation | 0 | 0 | 0 | 0 | |
| Disposals | 0 | 0 | 0 | 0 | |
| ----------- | ----------- | ----------- |
----------- | ||
| Balance at 31.12.20 | 0 | 0 | 22,963 | 22,963 | |
| ----------- | ----------- | ----------- |
----------- | ||
| NET BOOK VALUE | At 31.12.20 | 200,000 | 270,149 | 0 | 470,149 |
| ----------- | ----------- | ----------- |
----------- | ||
| At 01.01.20 | 200,000 | 270,149 | 0 | 470,149 | |
| ----------- | ----------- | ----------- |
----------- |
PAGE 10
KING'S CHURCH CAMBRIDGE
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020
NOTES TO THE ACCOUNTS
| 5 | DEBTORS: Due within one year | 2020 | 2019 | ||
|---|---|---|---|---|---|
| £ | £ | ||||
| Income tax recoverable | 5,000 | 5,254 | |||
| Prepayments | 0 | 1,479 | |||
| ----------- | ----------- | ||||
| 5,000 | 6,733 | ||||
| ----------- | ----------- | ||||
| 6 | CREDITORS | 2020 | 2019 | ||
| Due within | Due after | Due within | Due after | ||
| one year | one year | one year | one year | ||
| £ | £ | £ | £ | ||
| Accruals | 1,264 | 0 | 1,248 | 0 | |
| Mortgage | 2,500 | 41,291 | 2,100 | 44,176 | |
| Social security and other taxes | 17,505 | 0 | 9,644 | 0 | |
| ----------- | ----------- | ----------- | ----------- | ||
| 21,269 | 41,291 | 12,992 | 44,176 | ||
| ----------- | ----------- | ----------- | ----------- |
7
ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Tangible | 2020 | Tangible | 2019 | |||
|---|---|---|---|---|---|---|
| Asset | General | Total | Asset | General | Total | |
| Funds | Funds | Funds | Funds | Funds | Funds | |
| £ | £ | £ | £ | £ | £ | |
| Church Buildings | 200,000 | 0 | 200,000 | 200,000 | 0 | 200,000 |
| Building Improvements | 270,149 | 0 | 270,149 | 270,149 | 0 | 270,149 |
| ----------- | ----------- | ----------- | ----------- | ----------- | ----------- | |
| Tangible Assets | 470,149 | 0 | 470,149 | 470,149 | 0 | 470,149 |
| ----------- | ----------- | ----------- | ----------- | ----------- | ----------- | |
| Debtors | 0 | 5,000 | 5,000 | 0 | 6,733 | 6,733 |
| Cash at Bank | 0 | 126,185 | 126,185 | 0 | 59,063 | 59,063 |
| Creditors Due within one year |
2,500 | 18,769 | 21,269 | 2,100 | 10,892 | 12,992 |
| ----------- | ----------- | ----------- | ----------- | ----------- | ----------- | |
| Net Current Assets | -2,500 | 112,416 | 109,916 | -2,100 | 54,904 | 52,804 |
| Creditors Due after one year |
41,291 | 0 | 41,291 | 44,176 | 0 | 44,176 |
| ----------- | ----------- | ----------- | ----------- | ----------- | ----------- | |
| -43,791 | 112,416 | 68,625 | -46,276 | 54,904 | 8,628 | |
| ----------- | ----------- | ----------- | ----------- | ----------- | ----------- | |
| Net Assets | 426,358 | 112,416 | 538,774 | 423,873 | 54,904 | 478,777 |
| ----------- | ----------- | ----------- | ----------- | ----------- | ----------- | |
| General Funds | 0 | 112,416 | 112,416 | 0 | 54,904 | 54,904 |
| Designated Funds | 283,666 | 0 | 283,666 | 281,181 | 0 | 281,181 |
| ----------- | ----------- | ----------- | ----------- | ----------- | ----------- | |
| Unrestricted Funds | 283,666 | 112,416 | 396,082 | 281,181 | 54,904 | 336,085 |
| Restricted Funds | 142,692 | 0 | 142,692 | 142,692 | 0 | 142,692 |
| ----------- | ----------- | ----------- | ----------- | ----------- | ----------- | |
| Total Funds | 426,358 | 112,416 | 538,774 | 423,873 | 54,904 | 478,777 |
| ----------- | ----------- | ----------- | ----------- | ----------- | ----------- |
KING'S CHURCH CAMBRIDGE
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020
CONTENTS AND CHARITY INFORMATION
| CONTENTS | PAGE | ||
|---|---|---|---|
| Report of the Trustees | 1 and 2 | ||
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Accounts | 6 to 10 | ||
| MANAGING TRUSTEES | Jean-Louis Beng Elouga | ||
| Stephen Cassidy | (resigned) | ||
| Jerron Okai | |||
| Philip Shaw | |||
| MINISTER | Philip Shaw | ||
| HOLDING TRUSTEES | Jean-Louis Beng Elouga | ||
| Stephen Cassidy | (resigned) | ||
| Jerron Okai | |||
| Philip Shaw | |||
| ADDRESS | 49-53 Tenison Road | ||
| Cambridge | |||
| CB1 2DG | |||
| CHARITY REGISTRATION NUMBER | 1054329 | ||
| INDEPENDENT EXAMINER | Geoff Mann FCIE | ||
| Geoff Mann Limited | |||
| Dee House | |||
| Highworth Avenue | |||
| Cambridge | |||
| CB4 2BQ | |||
| BANKERS | Lloyds TSB Bank plc | ||
| Sidney Street | |||
| Cambridge | |||
| CB1 2DG |
KING'S CHURCH CAMBRIDGE
PAGE 1
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020
REPORT OF THE TRUSTEES
The trustees present their report and the accounts for the year ended 31 December 2020.
The accounts comply with the Charities Act 2011 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)
STATEMENT OF TRUSTEES RESPONSIBILITIES
Charity law requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the Church and of the surplus or deficit of the charity for that year.
In preparing those accounts, the trustees are required to:
-
(i) Select suitable accounting policies and apply them consistently.
-
(ii) Make judgements and estimates that are reasonable and prudent.
-
(iii) Prepare the accounts on the going concern basis unless it is inappropriate to presume that the Church will continue in business.
-
(iv) Observe the methods and principals of the Charities SORP.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time, the financial position of the Church and to enable them to ensure that the accounts comply with the Charities Act 2011.
They are also responsible for safeguarding the assets of the Church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Church is governed by a model trust deed for Assemblies of God Churches which was adopted on 9 January 2009, and is affiliated to the Assemblies of God in Great Britain and Ireland.
Appointment of trustees
New trustees are appointed by a majority of trustees in office at that time.
KING'S CHURCH CAMBRIDGE
PAGE 2
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020
REPORT OF THE TRUSTEES
Trustee induction and training
The trustees are currently reviewing the procedures in place for trustee induction and training by reference to guidance published by the Charity Commission.
Organisational structure
The trustees set out the general policy of the charity. The day to day affairs of the charity are run by the minister.
OBJECTS AND ACTIVITIES
The object of the Church is the advancement of the Christian religion by the proclamation and furtherance of the Gospel of God concerning His Son the Lord Jesus Christ, and the preaching and teaching of the Word of God by the Church in accordance with the Statement of Faith of Assemblies of God in Great Britain and Ireland as approved by the General Council from time to time.
ACHIEVEMENTS AND PERFORMANCE
These are covered by the Charity's Annual Report.
FINANCIAL REVIEW
These are covered by the Charity's Annual Report.
FUTURE DEVELOPMENTS
These are covered by the Charity's Annual Report.
This report was approved by the trustees on 11 October 2021 and signed on their behalf.
PHILIP SHAW TRUSTEE
PAGE 3
KING'S CHURCH CAMBRIDGE
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF KING'S CHURCH CAMBRIDGE
I report on the accounts of the Church for the year ended 31 December 2020, which are set out on pages 4 to 9.
RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND THE EXAMINER
As the Church's trustees you are responsible for the preparation of the accounts; you consider that the audit requirement of section 144(2) of the Charities Act 2011 (the Act) does not apply. It is my responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under section 145(5)(b) of the Act, whether particular matters have come to my attention.
BASIS OF INDEPENDENT EXAMINER'S REPORT
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. 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 you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts
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
-
to keep accounting records in accordance with section 130 of the Act: and
-
to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act
have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Geoff Mann FCIE Geoff Mann Limited Dee House Highworth Avenue Cambridge CB4 2BQ
PAGE 4
KING'S CHURCH CAMBRIDGE
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020
STATEMENT OF FINANCIAL ACTIVITIES
| 2020 | 2020 | 2019 | ||||
|---|---|---|---|---|---|---|
| General | Designated | Restricted | Total | Unrestricted | ||
| Funds | Funds | Funds | Funds | Funds | ||
| Notes | £ | £ | £ | £ | £ | |
| INCOME | ||||||
| Gift Aid Tax Recovered | 20,151 | 0 | 0 | 20,151 | 18,352 | |
| Offerings | 172,869 | 0 | 0 | 172,869 | 158,278 | |
| Rental income | 5,169 | 0 | 0 | 5,169 | 8,766 | |
| ----------- | ----------- | ----------- | ----------- | ----------- | ||
| TOTAL INCOME | 1 | 198,189 | 0 | 0 | 198,189 | 185,396 |
| ----------- | ----------- | ----------- | ----------- | ----------- | ||
| EXPENDITURE | ||||||
| Charitable Expenditure | ||||||
| Church Operating Costs | 29,045 | 0 | 0 | 29,045 | 39,147 | |
| Grants Payable | 4,688 | 0 | 0 | 4,688 | 4,327 | |
| Management and Administration | 11,665 | 0 | 0 | 11,665 | 18,196 | |
| Ministry | 92,794 | 0 | 0 | 92,794 | 116,866 | |
| ----------- | ----------- | ----------- | ----------- | ----------- | ||
| TOTAL EXPENDITURE | 2 | 138,192 | 0 | 0 | 138,192 | 178,536 |
| ----------- | ----------- | ----------- | ----------- | ----------- | ||
| 59,997 | 0 | 0 | 59,997 | 6,860 | ||
| TRANSFERS | 1(i) | -2,485 | 2,485 | 0 | 0 | 0 |
| ----------- | ----------- | ----------- | ----------- | ----------- | ||
| NET INCOME/(EXPENDITURE) AND | ||||||
| NET MOVEMENT IN FUNDS FOR THE YEAR | 57,512 | 2,485 | 0 | 59,997 | 6,860 | |
| RECONCILIATION OF FUNDS | ||||||
| TOTAL FUNDS BROUGHT FORWARD | 54,904 | 281,181 | 142,692 | 478,777 | 471,917 | |
| ----------- | ----------- | ----------- | ----------- | ----------- | ||
| TOTAL FUNDS CARRIED FORWARD | 112,416 | 283,666 | 142,692 | 538,774 | 478,777 | |
| ----------- | ----------- | ----------- | ----------- | ----------- |
STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES
There were no recognised gains or losses for 2020 or 2019 other than those included in the Statement of Financial Activities.
KING'S CHURCH CAMBRIDGE
PAGE 5
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020
BALANCE SHEET
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible assets | 4 | 470,149 | 470,149 | ||
| ----------- | ----------- | ||||
| TOTAL FIXED ASSETS | 470,149 | 470,149 | |||
| CURRENT ASSETS | |||||
| Debtors | 5 | 5,000 | 6,733 | ||
| Cash at bank | 126,185 | 50,161 | |||
| ----------- | ----------- | ||||
| TOTAL CURRENT ASSETS | 131,185 | 56,894 | |||
| LIABILITIES | |||||
| CREDITORS: amounts falling due | |||||
| within one year | 6 | 21,269 | 12,992 | ||
| ----------- | ----------- | ||||
| NET CURRENT ASSETS | 109,916 | 43,902 | |||
| ----------- | ----------- | ||||
| 580,065 | 514,051 | ||||
| CREDITORS: amounts falling due | |||||
| after one year | 6 | 41,291 | 44,176 | ||
| ----------- | ----------- | ||||
| NET ASSETS | 538,774 | 469,875 | |||
| ----------- | ----------- | ||||
| THE FUNDS OF THE CHARITY | |||||
| General Funds | 112,416 | 50,399 | |||
| Designated Funds | 283,666 | 278,826 | |||
| ----------- | ----------- | ||||
| Unrestricted Funds | 396,082 | 329,225 | |||
| Restricted Funds | 142,692 | 142,692 | |||
| ----------- | ----------- | ||||
| TOTAL CHARITY FUNDS | 538,774 | 471,917 | |||
| ----------- | ----------- |
The accounts were approved by the trustees on 11 October 2021 and signed on their behalf.
PHILIP SHAW TRUSTEE
KING'S CHURCH CAMBRIDGE
PAGE 6
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020
NOTES TO THE ACCOUNTS
1 ACCOUNTING POLICIES
(a) BASIS OF PREPARATION OF 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.
King's Church Cambridge meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
(b) INCOME
This is credited to the Statement of Financial Activities in the year to which it relates.
(c) EXPENDITURE
Includes all expenditure incurred in pursuing the charity's objectives, other than that which has been capitalised.
(d) CHURCH BUILDING
The trustees consider that the market value of the Church Building is in excess of its cost as shown in the accounts, and that in view of this there is no necessity to charge depreciation on the Building.
(e) DEPRECIATION
Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows:
Heating system 25% straight line basis Moveable equipment 25% straight line basis
Only purchases in excess of £500 are capitalised.
KING'S CHURCH CAMBRIDGE
PAGE 7
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020
NOTES TO THE ACCOUNTS
(f) DEBTORS
Trade debtors and other debtors are recognised at their settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discount due.
(g) CREDITORS AND PROVISIONS
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
(h) 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.
(i) TRANSFERS
A designated fund has been set up so that the charity's unrestricted funds not committed or invested in tangible fixed assets can be identified separately as general funds. Transfers are made annually to or from this designated fund to allow the general fund to be identified.
PAGE 8
KING'S CHURCH CAMBRIDGE
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020
NOTES TO THE ACCOUNTS
| 2 | EXPENDITURE | 2020 | 2019 | |
|---|---|---|---|---|
| £ | £ | |||
| Ministry | Humanitarian fundraising | 3,000 | 0 | |
| Publicity and ministry support costs | 4,596 | 9,899 | ||
| Salaries | 68,346 | 66,301 | ||
| Speaker gifts, hospitality and | ||||
| mission donations | 16,753 | 40,146 | ||
| Travelling Expenses | 99 | 520 | ||
| ----------- | ----------- | |||
| 92,794 | 116,866 | |||
| ----------- | ----------- | |||
| Grants Payable | Assemblies of God Projects | 4,688 | 4,327 | |
| ----------- | ----------- | |||
| Church Operating Costs | Developments and improvements | 12,518 | 19,814 | |
| Gas, Electricity and Water | 4,648 | 5,444 | ||
| Insurance | 1,546 | 1,467 | ||
| Repairs and Maintenance | 10,333 | 12,422 | ||
| ----------- | ----------- | |||
| 29,045 | 39,147 | |||
| ----------- | ----------- | |||
| Management and Administration | Bank and Gift Aid Charges | 1,721 | 1,879 | |
| Cleaning | 536 | 1,152 | ||
| Independent Examination | 736 | 720 | ||
| Mortgage interest | 2,545 | 2,675 | ||
| Other Costs | 678 | 690 | ||
| Postage and Stationery | 336 | 656 | ||
| Refreshments | 1,023 | 5,361 | ||
| Telephone | 1,360 | 1,118 | ||
| Training | 1,479 | 2,188 | ||
| Website | 1,251 | 1,757 | ||
| ----------- | ----------- | |||
| 11,665 | 18,196 | |||
| ----------- | ----------- | |||
| TOTAL EXPENDITURE | 138,192 | 178,536 | ||
| ----------- | ----------- |
KING'S CHURCH CAMBRIDGE
PAGE 9
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020
NOTES TO THE ACCOUNTS
3 STAFF COSTS
The minister of the Church is also one of its trustees. He was paid a salary as outlined below in his capacity as minister of the church and not in his capacity as a trustee. Expenses totalling £520 (2019 - £520) were also reimbursed to him. No expenses were reimbursed to any of the other trustees.
| The staff costs were: | 2020 | 2019 |
|---|---|---|
| £ | £ | |
| Wages and salaries | 61,845 | 60,529 |
| Social security costs | 2,701 | 2,986 |
| Other pension costs | 3,800 | 2,786 |
| ----------- |
----------- | |
| 68,346 | 66,301 | |
| ----------- |
----------- |
The average weekly number of staff employed by the charity during the year was 2 (2019 - 2)
4
| FIXED ASSETS | Church | Building | Moveable | Total | |
|---|---|---|---|---|---|
| Buildings | improvements | Equipment | |||
| £ | £ | £ | £ | ||
| COST | Balance at 01.01.20 | 200,000 | 270,149 | 22,963 | 493,112 |
| Additions | 0 | 0 | 0 | 0 | |
| Disposals | 0 | 0 | 0 | 0 | |
| ----------- | ----------- | ----------- |
----------- | ||
| Balance at 31.12.20 | 200,000 | 270,149 | 22,963 | 493,112 | |
| ----------- | ----------- | ----------- |
----------- | ||
| DEPRECIATION | Balance at 01.01.20 | 0 | 0 | 22,963 | 22,963 |
| Depeciation | 0 | 0 | 0 | 0 | |
| Disposals | 0 | 0 | 0 | 0 | |
| ----------- | ----------- | ----------- |
----------- | ||
| Balance at 31.12.20 | 0 | 0 | 22,963 | 22,963 | |
| ----------- | ----------- | ----------- |
----------- | ||
| NET BOOK VALUE | At 31.12.20 | 200,000 | 270,149 | 0 | 470,149 |
| ----------- | ----------- | ----------- |
----------- | ||
| At 01.01.20 | 200,000 | 270,149 | 0 | 470,149 | |
| ----------- | ----------- | ----------- |
----------- |
PAGE 10
KING'S CHURCH CAMBRIDGE
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020
NOTES TO THE ACCOUNTS
| 5 | DEBTORS: Due within one year | 2020 | 2019 | ||
|---|---|---|---|---|---|
| £ | £ | ||||
| Income tax recoverable | 5,000 | 5,254 | |||
| Prepayments | 0 | 1,479 | |||
| ----------- | ----------- | ||||
| 5,000 | 6,733 | ||||
| ----------- | ----------- | ||||
| 6 | CREDITORS | 2020 | 2019 | ||
| Due within | Due after | Due within | Due after | ||
| one year | one year | one year | one year | ||
| £ | £ | £ | £ | ||
| Accruals | 1,264 | 0 | 1,248 | 0 | |
| Mortgage | 2,500 | 41,291 | 2,100 | 44,176 | |
| Social security and other taxes | 17,505 | 0 | 9,644 | 0 | |
| ----------- | ----------- | ----------- | ----------- | ||
| 21,269 | 41,291 | 12,992 | 44,176 | ||
| ----------- | ----------- | ----------- | ----------- |
7
ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Tangible | 2020 | Tangible | 2019 | |||
|---|---|---|---|---|---|---|
| Asset | General | Total | Asset | General | Total | |
| Funds | Funds | Funds | Funds | Funds | Funds | |
| £ | £ | £ | £ | £ | £ | |
| Church Buildings | 200,000 | 0 | 200,000 | 200,000 | 0 | 200,000 |
| Building Improvements | 270,149 | 0 | 270,149 | 270,149 | 0 | 270,149 |
| ----------- | ----------- | ----------- | ----------- | ----------- | ----------- | |
| Tangible Assets | 470,149 | 0 | 470,149 | 470,149 | 0 | 470,149 |
| ----------- | ----------- | ----------- | ----------- | ----------- | ----------- | |
| Debtors | 0 | 5,000 | 5,000 | 0 | 6,733 | 6,733 |
| Cash at Bank | 0 | 126,185 | 126,185 | 0 | 59,063 | 59,063 |
| Creditors Due within one year |
2,500 | 18,769 | 21,269 | 2,100 | 10,892 | 12,992 |
| ----------- | ----------- | ----------- | ----------- | ----------- | ----------- | |
| Net Current Assets | -2,500 | 112,416 | 109,916 | -2,100 | 54,904 | 52,804 |
| Creditors Due after one year |
41,291 | 0 | 41,291 | 44,176 | 0 | 44,176 |
| ----------- | ----------- | ----------- | ----------- | ----------- | ----------- | |
| -43,791 | 112,416 | 68,625 | -46,276 | 54,904 | 8,628 | |
| ----------- | ----------- | ----------- | ----------- | ----------- | ----------- | |
| Net Assets | 426,358 | 112,416 | 538,774 | 423,873 | 54,904 | 478,777 |
| ----------- | ----------- | ----------- | ----------- | ----------- | ----------- | |
| General Funds | 0 | 112,416 | 112,416 | 0 | 54,904 | 54,904 |
| Designated Funds | 283,666 | 0 | 283,666 | 281,181 | 0 | 281,181 |
| ----------- | ----------- | ----------- | ----------- | ----------- | ----------- | |
| Unrestricted Funds | 283,666 | 112,416 | 396,082 | 281,181 | 54,904 | 336,085 |
| Restricted Funds | 142,692 | 0 | 142,692 | 142,692 | 0 | 142,692 |
| ----------- | ----------- | ----------- | ----------- | ----------- | ----------- | |
| Total Funds | 426,358 | 112,416 | 538,774 | 423,873 | 54,904 | 478,777 |
| ----------- | ----------- | ----------- | ----------- | ----------- | ----------- |