ONYH LL
C H U R C H Monyhull Church Annual Report & Financial Statements Year ended 30th September 2023 Contents Pages Trustees. report 1 to9 Independent Examiner's report 10 Statement of Financial Activities Balance Sheet 12 Cashflow statement 13 Notes to the financial statements 14to21
Monyhull Church Report of the Trustees for the year ended September 2023 The Trustees are pleased to present their report and financial statements for the year ended 30 September 2023 and confirm they comply with the requirements of the Charities Aet 2011. the trust deed and the Charities SORP IFRS 1021. Refgrence and Administrativft Information Charity Name Monyhull Church Re9lStered Charity Number 1060100 Principal Address Monyhull Church Centre St Francis Drive Kings Norton Birmingham B30 3PS Trustees Trustees who served during the year end up to the date of this report were: Stephen Browne Andrew Cole Donald Morrison Louis Quaintance Philip Sweeting Mark Wiggins Property Holding Trustge On 8th Septernber 2010, The Fellov4ship of Independent Evangelical Churches knmited wa5 appointed as the Church's Holding Trustee. The sole purpose of this appointment is for holdiri9 the legal title of real property and investments in trust for the Church and ensuring that the same is used only in accordance with the instruction5 of the Managing Trustees in furtherance of the purpose of the Church. OfPicers of the Church Finance Deacon Oavtd Simpson Ito 27 September 20231 Andrew Mountford Ifrom 27 Septembei 20231 Bankers HSBC 13 Chapel Street, Stratford upon Avon. WaiCkshIre. CV37 6ET Independent Examiner Dale Brusby ACMA CGMA 11 Woodstock Court. 158 Northfield Road. Kings Norton, Birmingham, B30 1DX
Structure, Governance and Management Monyhyll Church is constituted as a charitable trust and was registered with the Charity Commission on 11 January 1997 under charity number 1060100. The Church is governed by a Trust Deed dated 17th October 1996 together with a Supplemental Agreement dated 261h June 2012. The Trust Deed and Stjpplemental Agreement are supported by a Constitution. fefefred to as the Church Rules. which sets ovt the beliefs and practice of the members and regulates the day to day operation of the Church including the appointment of Elders. who act a5 the Managing Trustees of the Trust. The Church is affiliated to the Fellowship of Independent Evangelical Churthes IFIEQ. The Church operates under the oveisight of a team of Elders. ead) of whom is a Trustee of the Church. The Trustees meet at least once a month and are fesponsible for all deosions taken in relation to the operation of the Church and ihe activities provided by it. To assist the operatton of the Church. a number of Deacons and Ministry Team leaders have been appointed to oversee the Church's pro9ramme of activities. All Deacons and Ministry Team leaders are formal members of the Church. The decisions of the Trustees are reported to the Church's fflembe¥s at regular business meetings. Significant decisions are made only with the approval of the Churth members as required by the Church's 9overnin9 documents. The day to day management of the Church's progiamme and facilities has been delegated by the Trustees to the Church staff team. Deacoas and ministry leaders who provide iegular reports to the Trustees. At the end of the financial year the Church employed one Senior Pastor. one Associate Pastor. one Administrator and one Caretaker each of whom received emoluments and ieimbursement of expenses. Where employees are also Trustees, the Chufch's governing documents provide for the remuneration of Tr(Jstees in this way. The Church has appointed an Employment Committee which comprises a number of Church members together with one non-remunerated Trustee. The Employment Committee proposes the term5 and conditions. remuneration and the policy for reimbursement of expenses for all employees. Any such proposals are approved by the Church members. Employees do not participate in determining the remuneration they receive. cr itm ntan intm nt of Trustee Under the Church Rules. new Elders are proposed by the existing Eldeis and then approved by Church members via 3 ballot which requires the support of at least 66% of those Chuich members partiopating In the ballot. Other than the PasloTS, who are appointed as full-time. Elders serve fol a period of three years following which they are required to submit for re-election lor a furthe¥ three-year term. Following election by Church members. the trainin9 and general induction of new Trustees is overseen by the existing Trustees, who may delegate certain elements OF this process to staff members. New Tr(Jstees are provided with copies of the Church's 9overnin9 document5 together with key policies and procedures. Charity Commission publications and the Churth's risk assessment document.
The Trustee5 continue to oversee the Church's organisational structures to ensure the demand5 of a growing Church are met. Re9ular attention is given to slrate9ic and operational risks and systems have been established in order to manage and mitigate any areas identified as being higher risk. The Church's finances are kept under re9ular review with updates from the Finance Deacon to the Tr(Jstees and also termly reports to the Church members. Further risk management includes appropriate Insuran poliae5 being in place and Disclosure & Barfing Service checks bein9 undertaken on all those who woik with children or other vulnerable groups within the Church. Safeguardin9 COrdInator ove¥5ees the implerrbentation of the Church's safeguarding policy.
Objectives and Activities The objectives of the Church. as stated in its 9overning documents. are: to advance the Christian faith in Birmingham and in such other parts of the United Kingdom or the world in accordance with the Church's Basis of Faith- and to promote and fulf*l such other charitable purposes beneficial to the community in Birmingham and in such other parts of the United Kingdom or the worfd as shall. in the opinion of the Trustees further the work of the Church. In exercising its stated objectives, the Church has the following aims-. The worship of God. centred on the preathing and teaching of the Word of God,. The cultivation of a caring fellowship for the encouragement and building LJP of the members- To evangelise by the proclamation of the Gospel. by local outreach. and by prayerful and practical support of overseas work; The demonstration of the love of God by active involvement In the local community- In summarisin9 its strategic actiwties. the Church has adopted the following vision statement Monyhull Church exists to build a eommunlty of passionate dcIPleS of J95us Chri5L equipping them to sèrve Him in Monyhull. Bim)ingham and b•yond
Activities and achievements The Church continues to cary otrt a wide range of activities in pursuance of its charitable aims. When planning and reviewin9 this programme of activities, the Trustees have given due consideration to the Charity Commission's general g{Jidan on public benefit and. in particular. the specific 9UIdan to charities for the advancement of religion. The Trustees are committed to ensurin9 the Church plays its part not only in the local community but also further afield. In the same way, Church members are encouraged to live out their faith in their individual local eommunities and neighbourhoods. The Church has a formal membership of 156 full members and 23 a550ciate rrtembers. with a regular congregation of approximately 2(K) people. covering a wide demographic range. The majority of the Church's activities are open to the public and the Church welcomes its congregation from all cultural backgrounds. with the aim of ensuring each member has the appropriate opportunity to enga9e with and benefit from the Church's activities. The Trustees consider that the Ch(Jrch's pro9ramme of activities. 5urnmarised below. provides benefit both to those who worship at the Church and the wider community of Monyhull. Birmingham and beyond. The Church holds two publie services of woiship each Sunday. These serwces are open to the general public and con9regation5 of up to 200 people normally attend. Services are advertised on the Church's website, live-streamed on You Tube and recordings of talks and Bible teaching are routinely available for download from the website. In addition to the general advertFsing of the main Sunday services. invitations to special events, such as Easter and Christmas services. are regularly distribltted to the surrounding neighbouihood comprising 600 homes. Membef5 of the congregation are encouraged to join local Fellowship Groups whtch meet each week and tan be accessed both in person and online. These 9roups piovide a smaller format for Bible teaching and prayer. Fellowship Groups are co-ordinated by one of the Trustees, and each Fell¢)wship Group 15 led by respected members of the Church. In addition to 8ible teachin9 and prayer, Fellowship Groups are a150 designed to provide pastoral support and opportunities for developing friendship. The Church also encourages its members in the activity of pièyer. Thi5 is emphasised in the local Fellowship Group activities, re9ular prayer bulletins and an annual week of prayer. Monyhull Church's ethos is based firmly on the teachings of the B*ble. As a result. a number of activities are arranged to enable the Church congregation to study the Bible. All these meetings ère open to the general public and regular aetivities incl(Jde ladies, Bible Studies and Christianity Explored. In addition. there are regular Sunday evening fneetings that aim to give 3 Christian perspective on some of the big questions and issues of our day. Invitations to number of these events ale regularly i55ued to friends and neighbours. From time to time, subject-led Bible-based training courses are organised. A trainin9 and support group for local lay preachers is also held and 8 nLtrnber of the Chtjrch's lay preachers support other churches by preaching at their respective Sunday seryices. Monyhull Church is committed to working with other churches in the Birmin9hamlWest Midlands area. The Church also supports the Midlands Gospel Partnership. a network of local churches committed to expanding gospel ministry across the Midlands through training in Biblical ministry. co-operating in evangelism and partnering in chureh planting initiatives. The Church's pastors are regular contributors to the Midlands Ministry Trainin9 Scheme which is organised by the Midlands Gospel Partnership. The Church continues to be si9nificantly involved in Global Partnerships via financtal, prayer and pastoral support of individuals and organisations working in both the UK and overseas. Overseas mission organisations supported included OMF, UFM. Africa Inland Mission and Operation Mobilisation. The Church also actively supports two local charities= Just Caring Midlands and Birminghaffl City Mission. In addition. support is given to the work of UCCF amongst local university students.
un The two main annual community events are Carols on the Green and the Monyhull Community Day. Carols on the Green is an open air Community Carol service on Monyhull Green with refreshments following in the main church hall. For the Monyh(Jll Community Day, hundreds of members of the local community came along to the church to enjoy games, inflatables. refreshments. BBQ craft fair and other acti*itie5. There were also opportunities for people to learn more about the chuich and the various community activities which the church runs each week. A varied programme of regular activities 15 also arfan9ed by the Church. with invitation5 15sued to friends and colleagues of Church members, as well as more general invitations to the local neighbo(Jrhood. This includes coffee mornings. men's and women's events. Guest speakers are typically invited to these events at which they present a talk about their faith or another topic of interest. Activities for children and youth included Noah's ATk Stay and Play sessions. the weekly activities for childien. Sparks. Megabytes and Growth Groups. and the Monyhull Youth events on Fridays and Sundays. The Church Centre facilities can be hired by external organisations and individuals including for family parties, wedding related celebrations. training / consultation meetings. neighbouihood police tssking meetings and residents, forumlward committee meetin95. In addition. the Church p¥emises have been used for hosting events for local and national charities. The church also acts as a polling station for loeal and national elections. This 15 all in addition to the ongoin9 programme ol Churth ministry. With God's help and 9uidance. the Trustees anticipate the development of future ministries from the Church Cenlre and are grateful to the number of Church members who continue to work so diligently in the life and activity of Monyhull Church. Plans for future period It is anticipated that the Church will continue its activities and overall ministry as evidenced in the financial year ending 30" September 2023. The Trustees will review any future ministry opportunities in the light of the Church's strate9le aims and objectives.
Financial review The Financial Statements have been prepared on an accruals basis and include a Statement of Finanaal Activities and Balance Sheet. The Trustees continue to rewew the Church's finances on a regulaT basis and Churd) members receive termly financial updates. The majority of the Church's income continues to be 1Ved via gifts and donations principally from Church members and other committed Christians attending the main Church meetings. Where appropriate, tax is reclaimed under the HMRC Gift scheme. Restricted funds are accounted for separately and a rin9-fenced from other funds. Restricted funds are only accepted for projects or activities approved by the Trustees. As noted below, the Trustees do not have specific reserves policies for the Church's restricted fund& The Church has no long-term investments. All cash resetves are held in bank accounts. all of which are protected Ltnder the Financial Services Compensation Scheme. rant-makin Grant support is provided by the Church to a wide range of individuals and organisations involved in Christian work, both in the United Kingdom and overseas. Giants are considered by the Trustees and approved by Church members as part of the Church's annual budget-settin9 process. More urgent grant support can be approved. either by the Trustees or Church members. in line with the Church's internal firkancial policy. Grant support provided durin9 the financial year is outlined in the notes to the Financial Statement5. The finances of each fund. for the finanaal yeai. ale 5umrrtaTised a5 lollow5: The General Fund is used for the day-ttrday running of the Churd) ènd its activities. The Fund can be used io s(Jpport other Church funds at the discretion of the Tiustees. in line with the Church's internal financial policy. Cerall regular gift income into the Churd)'s General Fund linduding Gift Aid reclaims) saw a significant increase over the year, largely due to an increase in church membership. At the year-end the General Fund recorded a deficit of £2.404 after transfers to other funds. General Fund reserves at the year-end totalled £85,640, of which net current assets stood at £78,881. Gener The Church aims to hold a minimum of £35.000 in liquid reserves in the General Fund at any point in time In order to ensure there are sufficient funds to accommodate irregular periods of income and expenditure and l or bud9eled deficits. An ann(Jal bud9et-setting process together with regular financial reports enable the Trustees to actively monitor and manage General Fund feseryes.
The Global Partners Fund supports individual Christians and organisations working in both the UK and overseas. The general principle for the Fund is for all gifts received to be disbursed to appropriate individualslcauses as soon as possible. Consequently. there is no speofic Reserves Policy for this Fund. The Training Fund supports individuals training for a variety of Christian ministries. Ouring the yeai. two grants were made from the Training Fund totalling £1.590. There is no specific Reserves Policy for this Fund. The Church's freehold premise5 were acquired irk September 2012 and cornprise the 0ri9inal Church building, formerly part of Monyhull Hospital. together with Monyhull Gen and the adjoinrng land and car parks. In 2013, additional premises were constiucted. and these were funded via the Church's Building Fund which. in addition to ongoing gifts from the Church congre9ation, received 9rants from Brrmin9ham City Council and The Fellowship of Evangelical Churches. In order to supplement the Building Fund. the Trustees have also entered into loan agreements with Stewardship Services IUKED Limited and The Fellowship of Evan9elical Chufches Limited. The Building Fund continues to receive gifts from Church member5. and these are used to make the repayfflents in accordance with the respective loan agreements. All repayments are up to date and. at the financial yeaf end. the loan balance5 totalled £166,857 12022.. £190,193). Additional givin9 Into the fund has also been received for the future refurbishment of the original chapel buildin9. The Building Fund operates as a restricted fund and. as suth, there is no specific Reserves Policy for this Fund. The Fellowship Fund is a discretionary fund administered by the Trustees to assist those in situations of hardship. During the year three grants were made f¥orn the fund to individual church members totalling £1.900.
Statement of Trustees, responsibilities The Trustees are responsible for preparing an annual ieport and finanaal statements in accordance with applicable law and United Kingdom Accounting Standards (United ngdoM Generally Accepted Accountin9 Practicel. The law applicable to charities in En9land and Wales requires the Charity Trustees to prepare financial statements each year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that period. In preparing the financial statements. the Trustees are required to: Selert suitable accounting policies and apply them consistently; Observe the methods and prinoples in the Charities SORP,. Make judgements and estimates that are reasonable and pr(tdent,' State whether applicable accounting standards have been followed. Subject to any material departures disclosed and explained in the finanaal statements- Prepare the financtal statements on a goin9 concern basis unless it is inappropriate to presume that the Charity will continue in operation. The Trustees are responsible for keepin9 proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensufe that the finanoal 5talements comply with the Charities Act 1993, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the governing document. They are also responsible for safeguarding the assets of the Charity and hence taking reasonable steps lor the prevention and detection of fraud and other Irre9ularities. The Trustees are responsible for the maintenance and integrity of the Charity and finanoal information included on the Charity's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Approved by the Trustees on 27th March 2023 and signed on their behalf by: Andy Cole Trusteè
C H U R C H CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trusteèsl member$ of MONYHULL CHURCH On aeeounts for the year ended 3 SEPTEMBER 2023 Charity no lif any) 1060100 Set out on pages 11-21 I report to the InJstoe$ on my examination of the accounts of the abov8 charity nhe Trust") for the year ended 30 109 12021. ResponsIbl and basls of rèport As the charity$ trustees. you are responsible for the preparation of the accounts in accordance wth the requirements of the Charities Act 2011 nhe A(f). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination. I have followed all the applicaN8 Directions gwen by th8 Charity Commisslon under sèthon 14515Xb) of thè A¢t_ Independent I have completed my examination. I confimi that no material rnatters have oxaminerfs statgment come to my attention in connection the examination which gives me cause to lIeVe that in. any material respect.. the accounting e[d$ were not kept in 8¢¢ordance with section 130 of the Charitie3 Ad.. or the accounts dKI not accord w*lh the accounting record$," oi the accounts dKI not comply wilh the applicable requirements Corerning the fom and content of accoLJnts set out in the CharitS (Accounts and Reporls) Regulations 2008 other than any requirement that thtt accounts give a Irue 8rMI fair. view which is not a matter considered as part of an indep9rent examination. I have no conwns and have come across no other matters in connection with th& examination to which attention should be drawn in this report in order to enae a woper understandin9 of the accounts to be r¢a¢h8d. Slgned: Date- 12 Name: DALE BRUSBY Rèlèvant professlonal qualificationlsl or body lif any): ACMA CGMA Addrèss: 11.WOODSTOGK COURT, 156 NORTHFIELD ROAD, KINGS NORTON BIRMINGHAM B30 1DX IER Oct 2018
C H U R C H Section 8 Disclosure Only complete If the examinèr needs lo highlight rn8leiial matters ol Comr (see CC32, Independent examination of charty accounts.. directH)ns and guidan¢e for examiners). Giv• hère brlef dotslls of any itoms that th¥ examirter wlshe$ to disGIo$è. IER Oct 2018
le H u R c H
Monyhull Church
Statement of Financial Activities for the year ended 30 September 2023
| Note Income & Endowments from: Donations Gift Aid tax recoverable Interest Use of premises 2 Other charitable activities 2 Total Expenditure on: Charitable activities - Ministry 3 - Global Partners Support 4 - Property & Utilities 5 - Administration/Miscellaneous 6 - Depreciation 11 - Building Project 7 Governance costs 8 Total Net income/(expenditure) Transfers between funds 16 Net movement in funds Reconciliation of Funds Total Funds brought forward Total Funds carried forard |
30 September 2023 Unrestricted & Designated Restricted Total Funds £ £ £ 168,091 55,648 223,739 34,218 10,660 44,878 0 0 0 17,320 0 17,320 21,720 0 21,720 241,349 66,308 307,657 163,758 3,490 167,248 9,982 47,560 57,542 31,452 0 31,452 13,151 0 13,151 4,405 32,375 36,780 0 9,454 9,454 993 45 1,038 223,741 92,924 316,665 17,608 (26,616) (9,008) (20,012) 20,012 2404 (6,604) (9,008) 108,170 1,061,985 1,170,155 105,766 1,055,381 1,161,147 |
30 September 2022 Total Funds £ 191,153 38,438 0 8,740 7,258 |
|---|---|---|
| 245,589 146,746 52,634 23,647 12,725 37,657 9,565 1,278 |
||
| 284,251 | ||
| (38,662) (38,662) 1,208,817 1,170, 155 |
All income and expenditure relates to continuing activities.
Where applicable, the Statement of Financial Activities includes all gains and losses during the year. The attached notes on pages 14-21 form part of these financial statements.
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C H U R C H Monyhull Church Balance sheet As at 30 September 2023 As at 30 Septembor 2022 Nots Fixèd Ass•ts Tangible fixed assets 1.183.340 1,219,281 Current Assets Debtors & Prepayments C85h at bank and in hand Total current assets 12 11,716 143.320 155.036 15.379 136,153 151,532 13 Liabiliti•s Creditors falling due within one year N•t Current Assets 14 121,4531 127.5471 133.583 123,985 Creditors falling du• aft¢r one year Loan accounts 15 1155.7761 1173.1111 Net Assets 1.161.147 1,170.155 Funds Unrestricted & Designated funds Restricted funds 16, 17 16. 17 105.766 1,055.381 108.170 1,061.985 Total Funds 1.161,147 1.170.155 The attached notes on pages 14-21 form part of these finanaal statements. Approved by the Tfustees on 27th March 2024 and signed on their behalf by Andy Cole Trustee Don Morrison Trusteg -13-
C H U R C H Monyhull Church Cash Flow Ststement for the year ended 30 September 2023 30 September 2023 30 Septemb6r 2022 Net cash inflow from operating actiwties Net incoming resources Depreciation Movement in debtors Movement in creditors 19.(KJ81 36.780 3,663 16,0941 138.6621 37.657 15,1481 4,553 Net cash inflow from operatin9 actiwties 25.341 11.6001 Capital Expenditure Cap¥tal reductions to term liabilities 18391 117.3351 17.0761 122.4341 Increase (Decrease) in cash 7.167 131.1101 The attached notes on pages 14-21 form part of these finanoal statements. 14-
C H U R C H Monyhull Church Notes to the Financial Ststements for the year ended 30 September 2023 1. Accounting Policiés lal Basis of preparation The Financial Statements have been prepared in accordanee with the requirements of the Charities Act 2011 and the Church Accountin9 Re9ulations 2006 tO9ether with appl¢¢able UK accountin9 Standards and the revised Statement of Recommended Prartice= Accounting and Reportin9 by Charities ISORPI FRS 102 SORP 2015. The Financial Statements have been prepared under the historical c05t convention and include transaction5. assets and liabilities for which the Trustees are responsible in law. Theydo not include the financial statement5 of Church groups that owe their main affiliation to another body or those that are informal 9atherings of Church members. Ibl FLtnds strurture Unrgstrictedlunds comprise those funds which can be used by the Trustees for any purpose in furtherance ol the charitable objectives. From time to time the Trustees may designate funds for a speciftc purpose. Restrirtedfunds represent donations or grants received for a specific purpose and can only be expended on the purpose for which they were given. unless any change is properly authorised by the donor. Id Incoming resources All incoming resources are recognised On the Church has full legal entitlement. and it is certain the resources will be received and their monetary value can be measured with sufficient reliability. Voluntsry income is received by way of gifts and donations and is induded in full on the Statement of Financial Activities when received. Income tax recoverable on Gift Aid donattons is recognised when the income is received and is accounted for on an accruals basis. Intsre$treceivedis accounted for on an accruals bays. Otherincome is reco9nised when receivable. Idl Resourcès èxpended All expenditure is recogni5ed on an accruals basis as soon as there bs 3 legal or constructive obligation committin9 the Church to the expenditure. It is accounted for when it is incurred and is inclusive of any VAT which cannot be recovered. All costs Incurred by the Chureh in the delivery of its activitie5 are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating lo a particular activity complise both Costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. lel Grants and donations Grants and donations are accounted for when paid over, or when awarded if that award creates a binding obligation on the Church. Such payments are made to third parties in furtherance of the Church's charitable objectives. lfj Govèrnance costs Governance costs include those costs associated with meeting the constitutional and statutory requirements of the Church and include its independent examination and costs linked to the strategic management of the Church. -15-
C H U R C H 1. Accounting Polia8s~ continued 191 Governance costs All tangible fixed assets are ijsed by the Church in fulfilling its tharitable objectives. Tangible fixed assets are capitalised at historic cost and are stated at cost less accumulated depreciation which is accounted for on a straight line basis over the a55et's estimated useful life. The annual depreciation rate5 applied are as follows= Freehold land and buildin9S Improvements to land and buildin9S Fixtures, fittin9s & equipment 10% 25% Fixtures, fittings and equipment items costing less than £250 are not capitslised. unless part of a group purchase exceeding £250, but are written off to revenue as the expenditure is incurred. Ihl Pen510nS The church pays total contribut¢ons at the rate of 8% of basic gr05s annual salary into an HMRC approved Workplace Pension Scheme for each eligible staff member. or if they have opted out. into an approved personal pension scheme. An annually reviewable salary Sacrifice scheme is also made available which entitles employees to sacrifice a proportion of their salary in direct exthan9e for additional pension cont¢ibutions. Pension contrib(Jtions are recorded in note 1B. 2. Income from other tharitable activities 30 September 2023 30 September 2022 Unrestricted G•n•ralministry ¢osts Ineome to offset staff expenses Weekend and day events 342 1.599 14.317 Children s & Youth mintsty Noah's Ark Youth weekend and events 1.593 2,280 951 1,740 Outreach & Community Commijnity Day Men's events Women's events Other evangelistic events 1,416 1,101 323 1.037 712 199 110 Miscgllanèous Room hire & equipment rental Book sales 2021 church weekend deposit refund Other items 17.320 8,740 500 Total other income 39.040 15,998 -16-
C H U R C H 3. Expenditur• on Ministy 30 September 2023 30 Septgmb¢r 2022 Unrestricted Gener?Iministycosts Staff salaries and expense5 (note5 18 & 191 Speakers fees Weekend and day events Pastoral support Catering Cleaning Fellowship Group resources Licences Training 110,570 430 21,164 126 1.745 4.332 404 3,823 2.040 146.371 110,616 400 3.322 1.068 3,008 790 515 5.010 3,548 129,146 Childrnn s & Youth mintsty Noah's Ark Growth Groups Me9abytes Sparks MonyhLJII Yovth Youth weekend away Training Disclosu¢e & Bèrrin9 Service checkslchild Protection 1,197 523 256 154 401 5.142 1.283 189 189 1,433 3,466 250 388 7,3C14 433 8,106 Outreach & Community Community Day Christmas & Easter events Coffee mornings Cor)nect Men's I Women's events Other outreach events Evangelistic literature and medÉa 4,969 1.794 140 3.772 3.122 544 33 1.636 331 1.8LK) 269 9.281 9,438 Restricted Trnining Training Grant Follo&1P Financial support 1.590 1.900 858 Totsl expenditure on ministy 167.248 146,746 17-
C H U R C H 4. Global Partn8r Support 30 Stpt•mb•r 2023 30 September 2022 Restrirted Gifts/grants to GlobalPartnerorganisations OMF IGriffiths1 UFM (Gaveyl UFM (Harris) AIM (Bell) Just Caring Midlands Operation Mobilisation (Wheatley & Chedgzoyl UCCF Imurcettl Biwmingh8m City Mission 15.653 12.652 12.950 10,430 4,029 10.029 3.0 2,899 300 360 43,997 10.253 3,000 3.092 360 45.310 Pwsonalgrftdgrants Duda support (Polandl 1.750 1.750 1,750 1.750 Support/othercosts Other Iless than £2501 De&gnatedfunds~ one-offapp•als Harvest offering Spearhead Trust- 'Real Easter. Griffiths travel appeal Ukraine appeal Tufkey earthquake appeal 2.310 450 4.127 459 5.895 3,628 Total expenditure on Global Partner support 57.542 52,634 S. Expenditure on Property & Utilities 30 September 2023 30 September 2022 Property repairs & maintenance" Equipment purchase. Maintenance & service Utilities - gas. electric. water Buildings/Contents/Engineering insurance Totsl expenditure on property & utilities ' Property repairs & maintenance in year to 30 September 2023 ts shown net of an insurance claim of £8.000 tn respect of the sewage leak in the church basement in August 2023. 6. Expenditure on Administration l Miscellaneous 11,413 5,054 9.924 5.061 31.452 9.230 3.734 6,072 4,611 23.647 30 September 2023 30 September 2022 Website & advertising Photocopier rental & service PA/recording Telephone & internet Stationery & printing FIEC, Affinity, Midlands Gospel Partnership Sundry expenditure (items less than £2501 Bank charges Health & Safety review Online processing fees Totsl expenditure on administrati0MiSCellaneouS 419 1.674 28 1.031 2.372 5.902 1,114 1,973 827 923 594 5.874 79 11 194 216 1.315 13.151 162 1,127 52 12.725 -18-
C H U R C H 7. Buildin9 fund costs 30 September 2023 30 Sgptemb¢r 2022 Restrirted Building work and costs Loan interest- Stewardship Loan interest - FIEC Total èxpenditure on buildin9 project 2.225 7,220 120 9.565 9.394 9.454 8. Govèrnance costs 30 Septembgr 2023 30 S•pt8mb8r 2022 Unrestricted Trustee indemnity insurance Independent examination gift Staff pension scheme èdministration fee Legal fees Restricted Le9al Fees Total governance costs 347 250 396 347 250 396 240 45 1.038 45 1.278 9. Related paty transactions No Trustee had any personal interest any contract or transaction entered into by the Church durin9 the year. 10. Taxation As a Charity. the Church is exempt from tax on income and 9ains fallin9 Wlthin section 505 of the Taxes Act 1988 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen within the Church. 11. Fixed Assets Fixtures. Fittings & Equipment Land & Buildings Total Cost Balance at 30 Sept 2022 Additions Disposals Balance at 30 Sept 2023 Accumulated deprecjation Balance at 30 Sept 2022 Charge in the year Disposals Balance at 30 Sept 2023 1,458,752 93,203 839 1,551,955 839 1.458.752 94.042 1,552,794 217.421 32.375 82,878 4.405 332,674 36,780 282.171 87.283 369.454 Not book value at 30 Sept 2023 1.176.581 6.759 1.183.340 Net book value at 30 Sept 2022 1.208.956 10,325 1,219,281 The Land & Buildin9s values shown above are at historical cost less depreciation. and do not necessarily reflect current market value. The Land & Buildin9s comprise a Freehold Property now known a5 Monyhull Church Centre, St Francis Drive, Kings Norton, Birmingham. The property was acquired in 2012 and was the subject of construction work on a new annexe in 2013. The Land & Buildings are held on trust for the Church by FIEC knmited as Holding Trustee. All fixed assets are held for charitable purposes. -19-
C H U R C H 12. Debtors & Pr•paym•nts 30 Pternb•r 2023 30 Sèptèmber 2022 Debtors Prepayments Income tax recoveiable on Gift Aid 1,167 7,423 3.126 11.716 3.461 8,964 2,954 15.379 13. Bank Balances 30 September 2023 30 September 2022 Cash Cijrrent Accounts Online payment processors 137.126 6,194 143,320 135.855 298 136,153 14. Creditors- amounts falling due wthin one year 30 September 2023 30 September 2022 Loan account5 FIEC Stewardship Accruals Deferred income 6,000 11,082 5.768 4.697 27.547 11.082 7.791 2.580 21.453 15. Creditors- amounts falling due after one year 30 Sèptèmber 2023 30 September 2022 Loan accounts FIEC Stewardship 155.776 155,776 173.111 173,111 The loan from Stewardship Setvice5 IUKEt) Ltd 15 secured by a legal chaf9e over the Church's land & buildings. 16. Movement of Funds Balancè Wf R•e•ipts Payments Transfer5 Balance cl* Restricted Buildin9 Fund Global Partners Fund Training Fund Fellowship Fund Designated Building Fund One-off appeals Unrestrirted General Fund Total funds 1,052,581 32,854 27,548 2,828 3,078 141,8741 147, 5601 11,5901 11.9001 1.043.561 20.012 5,640 3.764 6.878 4.942 20.126 20,126 9.982 19.9821 88.044 1.170.155 231,367 307.657 1213,7591 1316.6651 120.0121 85.640 1.161.147 The transfer into the Global Partners Fund represents the amount required to balance the Fund at the year-end.
C H U R C H 17. Analysis of Funds Fixed Assets Net Currerrt Assets Tèrm abill•S Total Re5trirted Buildin9 Fund Global Partners Fund Training Fund Fellowship Fund 1.176.581 22.756 {155,776} 1,043,561 6.878 4,942 6,878 4.942 Dasignated Building Fund 20.126 20,126 Unrestricted General Fund 6,759 78.881 85,640 Totsl funds 1,183,340 133.583 1155,776) 1,161,147 Unr•strict•dlunds The Genera1 Fund compiises unrestricted funds which are available for use in the general operation of the Church and its activities. Some of these funds may be designated by the church Elders for use by other funds. Restrictedfunds Restricted funds are used for the following specific putPOses= Building Fund The Building Fund was originally established to cover the cost of construeting additional Church facilities. The Building Fund continues to receive gifts and donations which are used to repay loans from Stewardship Services IUKETI Limited and The Fellowship of Independent Evangelical Churches Limited. These loans were raised in 2013 to assist with the construction cost of new Church facilities. Surpluses In the Fund may be used to make additiona1 repayments on the loan5 0standIng or contfibute to the refurbishment of the Chapel building. The loan from FIEC was paid off in full in July 2023. Global Partners FurKI The Global Partners Fund supports individual Chiistians and organisations working in both the UK and oversea5. Training Fund The Training Fund supports individuals training for Christian minlstry. Fellowship Fund The Fellowship Fund is a discretionary fund administered by the church Elders to assist in situations of hardship. 18. Staff numbers and emoluments 30 S#pt•mb8r 2023 30 September 2022 Number of FTE staff Salaries Expenses Pension eonlribulions Employer NIC costs ERNIC Allowance HMRC Furlough payment 88.718 4.996 12.310 8.824 14,2761 89.817 4.417 13,231 8,257 15.1061 110,572 110.616 At 30 September 2023. the chu¥ch employed one full-time Pastor, one part-time Pastor. one part-time Administrator and one part-time Caretaker. No employee was paid at a rate in excess of £60.0(X) pe¥ annum. -21-
C H U R C H 19. Trust••s' ¢moluments and reimbursed expenses The eldeis of the Church linclud4ng the Pastors) are all appointed as Trustees. The Church's governing documents permit the reasonable remuneration of Trustee5 and also provide for the payment to Trustees of reasonable and proper out of pocket expenses incuifed in carrying out their duties. In addition to salary and expenses, the church pays contributions at the rate of 5% of basic gross annual salary into an HMRC approved Workplace Pension Scheme for each eligible staff member. or if they have opted out, an approved personal pension scheme. An annually reviewable salary sacrifice scheme is also made available which entitles employees to sacrrfice a proportion of their salary in direct exchange for additional pension contributions. Payments made to Trustees were as follows- Salary Pension Employèr NIC Total Year to 30 S•pt•mb•r 2023" Andrew Cole 37.427 Philip Sweeting 25,723 63,150 2,018 2,850 4,868 3,247 7,310 10.557 4,654 2.588 7,242 47.346 38.471 85,817 Year to 30 September 2022 Andrew Cole Philip Sweeting 36.180 29,843 66,023 2.095 2.231 4,326 3.828 8.014 11.842 3,925 3,015 6,941 46,028 43,103 89,132 Fiom February 2023 Philip Sweeting reduced his working hoLtrs by 25% to take up a new part-time role with ving Leadership which is why these figures show a si9nificant drop on the previous year. 20. TrLFStee donations During the year, aggregate donations received from Trustees and related parties amounted to £56,30012022.. £45,987). 21. Capital commitments At the year end. there was no Capital expenditure which had been contracted but not provided for in the financial statements12022.' nill. 22. Contingent liabilities In April 2013, a grant of £108.250 (net ol expenses) wa5 received fiom Birmingham City Co(Jncil towards the capital costs of constructing the church's annexe building. The grant wa5 conditional upon the Church's land & buildings being made available for Church and community use. If during the 10-year pe¥iod lollowing practical completion ol the building work. the Church's land & buildin9$ are not made available for such use. or in the event of disposal of the land & buildings. Birmtngham City Council reserves the ri9hi to reclaim the grant sum abated by a percentage of 10% for each complete year which has expired following praetital completion. This obligation is secured by a legal charge over part of the Church's land & buildings. The Trustees have entered into a Deed of Covenant with the Secretary of State for Health and others in respect of the Chureh's13nd & buildin9s. The Deed stipulates that if, before l January 2023, the Church implements any planning permission on. or otherw4se disposes of. part or all of its land & buildings a settlement ligure 15 to be paid, the arnount of which is to be determined at the time of implementation or disposal by relerence to the provisions ol the Deed. This obligation is secured by a legal tharge over the Chtjrch's land & buildings. Both of the above contingent liabilities fell away over the year and there are no conlingent liabilities as at 30 September 2023. -22-