**Charity registration number 1056875**
**Company registration number 02970375 (England and Wales)**
# **WALLINGTON CHRISTIAN OUTREACH LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 AUGUST 2022**
## **WALLINGTON CHRISTIAN OUTREACH LIMITED**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|H S Cole|
|---|---|
||A J P French|
||M G Rowlands|
||P I Hawkins|
||J G Hawkins|
||J K Hawkins|
|**Secretary**|J G Hawkins|
|**Charity number**|1056875|
|**Company number**|02970375|
|**Registered office**|39 Woodcote Road|
||Wallington|
||Surrey|
||SM6 0LH|
|**Independent examiner**|Frances Wilde FCCA DChA|
||Warner Wilde|
||Chartered Certified Accountants|
||4 Marigold Drive|
||Bisley|
||Surrey|
||GU24 9SF|
|**Bankers**|HSBC - Wallington|
||54 Woodcote Road|
||Wallington|
||Surrey|
||SM6 0NF|
||Scottish Widows Bank Plc|
||67 Morrison Street|
||Edinburgh|
||EH3 8YJ|
## **WALLINGTON CHRISTIAN OUTREACH LIMITED**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 3|
|Independent examiner's report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the financial statements|7 - 14|
## **WALLINGTON CHRISTIAN OUTREACH LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
The Trustees present their annual report and financial statements for the year ended 31 August 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Company's Memorandum of Association, the Companies Act 2006 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 ).
The Company also trades under the name The Oasis.
## **Objectives and activities**
## **a. Policies and objectives**
The Company was formed to obtain charitable status and acquire the charitable activities of Wallington Christian Outreach, itself a registered charity. Charitable status was granted on 17 July 1996 and it acquired the charitable activities, assets and liabilities with effect from 1 September 1997 when it commenced trading as The Oasis.
## **b. Activities for achieving objectives**
The principal way in which the work is carried out is by means of a Christian Bookshop operating at 39 Woodcote Road and known as The Oasis. From 1 May 2018 the shop has been managed by Anna Woodman with assistance from a team of volunteers. The work of the shop is overseen by the Trustees mainly through regular meetings. They bring a wealth of relevant experience, e.g. accountancy and business, to the job which they can do without further formal training. However, should formal training prove appropriate, this will be arranged.
## **Public Benefit**
In planning the activities of the Company, the Trustees have have considered the Charity Commission's guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. The shop is open to the public and this, in our view, means that it is for the benefit of the public as required by charity law.
## **Achievements and performance**
## **Review of activities**
Sales for the first half of the year continued to be affected by COVID-19 issues. Following the lifting of restrictions in February 2022, however, turnover increased substantially, resulting in an encouraging 47% increase in sales. Competition from online outlets continues to be a concern. However, the Trustees believe that the presence of a splendid range of cards and giftware, coupled with a welcoming environment, still encourages many into the shop.
We again had the benefit of donations as in the previous year. We received a substantial gift by way of a charitable trust, which has had the effect of reducing our loss for the year to £4,02 8 (2021: loss of £10,758). Staffing of the shop remains challenging from time to time and new volunteers are actively being sought. In July 2022, our shop manager, Anna Woodman, moved with her family to Essex. However, she very kindly agreed to continue in her role, working remotely from home apart from one day a week, pending the appointment of a new manager. We are pleased to report that Dave Lock, previously manager of Manna Christian Centre in Streatham, has been appointed as our new manager with effect from 1 May 2023. Dave brings with him a wealth of experience as a Christian bookshop manager and we are looking forward to working with him.
The lease came to an end in May 2014 and the Trustees have been holding over since that time. In May 2017, the Trustees received from the landlord an offer of a new 10-year lease, at an increased rental, but felt unable to take matters forward until a new manager had been appointed. The pandemic further delayed renewal discussions and these were postponed until December 2022, the landlord agreeing that the rent would be held at the same level until March 2023. We are currently awaiting an approach from the landlord’s agent.
Considering the Company’s healthy cash position and the continuity of the business provided by our new manager, these financial statements have been prepared on a going concern basis as, in the opinion of the Trustees, there are no material uncertainties about the Company’s ability to continue for the foreseeable future, being 12 months from the date of signing these financial statements.
- 1 -
## **WALLINGTON CHRISTIAN OUTREACH LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
## **Fundraising activities**
The company does not actively participate in voluntary fund raising and relies on sales from its bookshop to raise funds to finance its charitable activities.
## **Financial review**
It is the policy of the Company that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to at least four month’s running expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Company ’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
## **Plans for future periods**
The Company plans to continue to operate in its existing markets.
## **Structure, governance and management**
## **Constitution**
The Company is a charitable company limited by guarantee and was set up by a Memorandum of Association on 7 September 1994. The Company is constituted under a Memorandum of Association dated 7 September 1994 and is a registered charity number 1056875.
The principal object of the Company is to provide opportunities for outreach through the operation of a Christian bookshop known as The Oasis at 39 Woodcote Road, Wallington, Surrey, SM6 0LH.
The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
H S Cole
A J P French M G Rowlands P I Hawkins J G Hawkins J K Hawkins
New trustees are elected by the existing trustees. One third of the trustees retire from office at each Annual General Election and, if they choose to offer themselves for re-election, are deemed to have been re-elected unless there is any express resolution otherwise.
None of the Trustees has any beneficial interest in the company. The memorandum and articles of association restrict the liability of the Trustees on a winding up to £ 1 each . In the event of a winding up, accumulated funds shall be transferred to one or more charitable institutions having similar objects. The remuneration of the key management is shown in Note 7 to the financial statements.
The trustees meet regularly and administer the charity by majority decision.
## **Risk Management**
The Trustees have a duty to identify and review the risks to which the Company is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The Trustees have assessed the major risks to which the Company is exposed, in particular those related to the operations and finances of the Company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
- 2 -
## **WALLINGTON CHRISTIAN OUTREACH LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
The Trustees' report was approved by the Board of Trustees.
.............................. J G Hawkins **Secretary** Date: .............................................
- 3 -
WALLINGTON CHRISTIAN OUTREACH LIMrrED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF WALLINGTON CHRISTIAN OUTREACH LIMITED
I r9POrt to the Tru81oes my examknatk)n of th• financial statements ol Walingkn ChrIstl Outreach Llmtted
{th• Company) for the ytar 8ndad 31 ust 2022.
R••pon•SblllllM and ba•1• of rwrt
A8 the Tru81008 of th8 Company larHI also Ils dSr8ctors for the purptrs•s of o)mpany law) you arts r&sponslbl6 for
the pr8paratson of finoncid ststements in acc%¥da with the requirements of the Companie8 Act 20061th9
2006 Act).
Han9 satlsfiod my8•1f that the financb#l Statsments of Company are not requlrgd to b8 audrtad under Part
16 of the 2006 Act 8nd 8re 8llglble for Independt 8xaMln8fj. I report In res¢¢ of my gxamlnation of th
Comp8nls flnanclal slatemonts carrled out under Section 145 of tho charits Act 2011 Ilho 2011 Act). In
¢8rrylng out my examination I have folio%%*il all the applicable Dlrecllo¢)8 gNon ty Ihe Charlty Comm188lon undgr
8acllon 14515}Ibl of the 2011 A¢1.
Ind•p•nd•nl •x4mln•rfs stat•m•nt
I havo compl8t8d my examination. l ¢onflmi that rn matters hav8 comg to my 8tt8ntton In connoctlon wllh Ihg
examlnallon glvlng me cause to bell8ve that In any mglodal respect..
8¢counlNJ records were rK)I kept In spO ol the Company 88 r8qulrnd by 8•ckn 386 of the 20CA Act; or
th8 financlal slalements do not o¢¢ord with those records., or
th8 flnandal statements do not Mpty vAth the a¢u)unUThJ roquSr8m&nts of sectlon 396 of tho 2006 Act
otr th8n any requirement th81 the ac¢ount8 91 a And falr vl&w whkh 18 not 8 matter nSIdered as
part of an Indepgndenl examlnalkjn., or
tho flnandal 8tstsmont8 have not beon prepared In ?c0[anCe wlth th& m6thod8 and prtnclpl88 of I
Slatsmenl of Rocomm8nd8d Prackn for aecoLmtir& and rgportlng by appllcablo to char8
preparing their accounts In 8wdanca th the Fin8ndal Reportlng Standard appllc8bl6 In tha UK and
Republ¢ of Ireland IFRS 102).
I have concems and h8Vg ¢(Nng across no other mattern In conn8d¢)n wlih the examlnallon lo whlch att8nUon
should be drawn In th18 r8wt In oftler to enabS9 a prop8r underatsrIn9 of tho finandol stslem8nls lo be
re8ch0d.
Frnnc•• Wlld• FCCA DChA
Wofn8r Wllde
Chartered Cervfled Aco)untants
4 Marfgold Drfve
B131ey
Surrey
GU24 9SF
Dated:.....If ffl.¥. Lè i S
## **WALLINGTON CHRISTIAN OUTREACH LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
|||**Unrestricted Unrestricted**|**Unrestricted Unrestricted**|
|---|---|---|---|
|||**funds**|**funds**|
|||**2022**|**2021**|
||**Notes**|
**£**|**£**|
|**Income from:**||||
|Donations and legacies|**3**|10,200|17,016|
|Charitable activities|**4**|117,562|81,003|
|Investments|**5**|5|13|
|**Total income**||127,767|98,032|
|**Expenditure on:**||||
|Raising funds|**6**|72,792|51,079|
|Charitable activities|**7**|59,003|57,891|
|Other gains / losses|**11**|-|(180)|
|**Total expenditure**||131,795|108,790|
|**Net expenditure for the year/**||||
|**Net movement in funds**||(4,028)|(10,758)|
|Fund balances at 1 September 2021||108,098|118,856|
|**Fund balances at 31 August 2022**||104,070|108,098|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 5 -
## **WALLINGTON CHRISTIAN OUTREACH LIMITED**
## **BALANCE SHEET**
## _**AS AT 31 AUGUST 2022**_
|**Notes**
**Fixed assets**
Tangible assets
**12**
**Current assets**
Stocks
**13**
Debtors
**14**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**15**
Net current assets
**Total assets less current liabilities**
**Income funds**
Unrestricted funds|**2022**
**£**
57,504
5,683
49,908
113,095
(10,524)|**£**
1,499
102,571
104,070
104,070
104,070|**2021**
**£**
62,408
3,763
46,538
112,709
(8,151)|**£**
3,540
104,558|
|---|---|---|---|---|
|||||108,098|
|||||108,098|
|||||108,098|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2022.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on .........................
**----- Start of picture text -----**
.............................. ..............................
H S Cole J G Hawkins
Trustee Trustee
**----- End of picture text -----**
**Company registration number 02970375**
- 6 -
**WALLINGTON CHRISTIAN OUTREACH LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
## **1 Accounting policies**
## **Charity information**
Wallington Christian Outreach Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 39 Woodcote Road, Wallington, Surrey, SM6 0LH.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the Company's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The Company is a Public Benefit Entity as defined by FRS 102.
The Company has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling , which is the functional currency of the Company . Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The cost of raising and administering such funds are charged against the specific fund. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
## **1.4 Income**
Income is recognised when the Company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Legacies are recognised on receipt or otherwise if the Company has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 7 -
**WALLINGTON CHRISTIAN OUTREACH LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
## **1 Accounting policies**
## **(Continued)**
Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to projects. Gifts donated for resale are included as income when they are sold. Donated facilities and services are included at the value to the company where this can be quantified and a third party is bearing the cost. No income is recognised where there is no financial cost borne by a third party or where the value cannot be determined with reasonable accuracy. No amounts are included in the financial statements for services donated by general volunteers.
Income from other trading activities relates to the sale of books and other goods, exclusive of value added tax and any discounts.
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold land and buildings Over the period of the lease Office equipment 37.5% straight line Fixtures and fittings 25% Straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities .
## **1.7 Impairment of fixed assets**
At each reporting end date, the Company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .
## **1.8 Stocks**
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell . Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
- 8 -
**WALLINGTON CHRISTIAN OUTREACH LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
## **1 Accounting policies**
## **(Continued)**
## **1.9 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.10 Financial instruments**
The Company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company 's balance sheet when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost less provision for impairment. A provision for impairment of debtors is established where there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debt. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the Company ’s contractual obligations expire or are discharged or cancelled.
## **1.11 Taxation**
The charitable company is exempt from corporation tax on its charitable activities.
## **1.12 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged in the period to which they relate.
- 9 -
## **WALLINGTON CHRISTIAN OUTREACH LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
## **2 Critical accounting estimates and judgements**
In the application of the Company’s accounting policies, the Trustees might be required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **3 Donations and legacies**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2022**|2021|
||**£**|£|
|Donations and gifts|10,200|16,375|
|Grants|-|641|
||10,200|17,016|
## **4 Charitable activities**
|||**Charitable**|**Charitable**|
|---|---|---|---|
|||**Income**|**Income**|
|||**2022**|**2021**|
|||**£**|**£**|
|Sales|of books, gifts, cards, music etc.|117,562|81,003|
## **5 Investments**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2022**|2021|
||**£**|£|
|Interest receivable|5|13|
- 10 -
## **WALLINGTON CHRISTIAN OUTREACH LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
## **6 Raising funds**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2022**|2021|
||**£**|£|
|Trading activities|||
|Cost of books|28,853|20,986|
|Cost of gifts, music, cards etc.|43,939|30,093|
||72,792|51,079|
## **7 Charitable activities**
||**Charitable**|
**Charitable**|
|---|---|---|
||**Expenditure**|
**Expenditure**|
||**2022**|
**2021**|
||**£**|
**£**|
|Staff costs|21,224|
22,601|
|Depreciation and impairment|4,020|
3,476|
|Rent, rates and service charges|18,391|
18,210|
|Insurance|2,257|
2,098|
|Light and heat|1,863|
1,499|
|Telephone|1,718|
1,572|
|Printing, postage and stationery|705|
405|
|Bank charges|966|
546|
|Equipment, repairs and maintenance|3,738|
2,339|
|Computer software|-|
2,327|
|Sundry expenses|3,071|
1,418|
||57,953|
56,491|
|Share of governance costs (see note 8)|1,050|
1,400|
||59,003|
57,891|
- 11 -
**WALLINGTON CHRISTIAN OUTREACH LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
## **8 Support costs**
|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Independent Examiner
-
1,050
-
1,050
Analysed between
Charitable activities
-
1,050|**2022**
Support
costs
Governance
costs
**£**
£
£
1,050
-
1,400
1,050
-
1,400
1,050
-
1,400|2021
£
1,400
1,400
1,400|
|---|---|---|
Governance costs includes payments to the Independent Examiner of £ 1,050 (2021- £ 1,400 ) for accounts preparation and independent examination.
## **9 Trustees**
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Company during the year.
## **10 Employees**
The average monthly number of employees during the year was:
||**2022**|**2021**|
|---|---|---|
||**Number**|**Number**|
|Administration|1|1|
|Unpaid Volunteers|14|13|
|Total|15|14|
|**Employment costs**|**2022**|**2021**|
||**£**|**£**|
|Wages and salaries|20,213|21,525|
|Other pension costs|1,011|1,076|
||21,224|22,601|
There were no employees whose annual remuneration was more than £60,000.
- 12 -
## **WALLINGTON CHRISTIAN OUTREACH LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2022**_
## **11 Other gains / losses**
|||||**Total**|Unrestricted|
|---|---|---|---|---|---|
||||||funds|
|||||**£**||
|||||**2022**|2021|
||Net loss on disposal of tangible fixed assets|||-|(180)|
|||||-|(180)|
|**12**|**Tangible fixed assets**|||||
|||**Leasehold**|**Office**|**Fixtures and**|**Total**|
|||**land and**|**equipment**|**fittings**||
|||**buildings**||||
|||**£**|**£**|**£**|**£**|
||**Cost**|||||
||At 1 September 2021|50,808|17,212|33,280|101,300|
||Additions|-|1,598|380|1,978|
||At 31 August 2022|50,808|18,810|33,660|103,278|
||**Depreciation and impairment**|||||
||At 1 September 2021|50,806|17,174|29,779|97,759|
||Depreciation charged in the year|2|622|3,396|4,020|
||At 31 August 2022|50,808|17,796|33,175|101,779|
||**Carrying amount**|||||
||At 31 August 2022|-|1,014|485|1,499|
||At 31 August 2021|2|37|3,501|3,540|
|**13**|**Stocks**|||||
|||||**2022**|**2021**|
|||||**£**|**£**|
||Finished goods and goods for resale|||57,504|62,408|
|**14**|**Debtors**|||||
|||||**2022**|**2021**|
||**Amounts falling due within one year:**|||**£**|**£**|
||Trade debtors|||1,885|947|
||Prepayments and accrued income|||3,798|2,816|
|||||5,683|3,763|
- 13 -
## **WALLINGTON CHRISTIAN OUTREACH LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
## **15 Creditors: amounts falling due within one year**
|Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income|**2022**
**£**
1,089
5,289
2,536
1,610
10,524|**2021**
**£**
1,359
4,119
1,142
1,531
8,151|
|---|---|---|
## **16 Retirement benefit schemes**
## **Defined contribution schemes**
The Company operates a defined contribution pension scheme for all qualifying employees.
The pension cost charge for the period represents contributions payable by the charitable company to the respective scheme and amounted to £1,011 (2021 - £1,076).
## **17 Financial commitments, guarantees and contingent liabilities**
## **Customer Loyalty Cards**
Customer loyalty cards have been issued which entitle customers to redeem £5 off their next purchase once they have been completed. The company does not know at any time how many of these cards will be presented for redemption and therefore they will be accounted for when redeemed.
## **18 Related party transactions**
There were no disclosable related party transactions during the year (2021 - none) .
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