2021-08-31-accounts - Sound Church

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Report of	the Trustees	l to 7
Report of	the Auditors	7to 11
Statement	of Financial Activities
Statement	of Financial Position	13
Statement	of Cash Flows	14
Notes to the Financial Statements

			Notes	Unrestricted	Restricted	2021	2020
				funds	funds
Income and	endowments	from:
Donations Charitable	and legacies activities		2 3	656,397 45,211	20,751	677,148 45,211	499,741 24,911
Other trading ar,tivities				30,000		30,000	30,000
Investments			5	3		3	48
Other income Total			6	17,077 748,688	20,751	17,077 769,439	5,730 560,430
Expenditure	on:
Raising funds Charitable activities Total			8ra	(4,107) 621 208 (625,315)	(1,86ij (1,861)	(4,107) (623,069) (627,176)	(694) (497,431) (498,125)
Net income				123,373	18,890	142,263	62,305
Reconciliation offunds
Total funds Total funds	brought forward carried forward			2,026,341 2,149,714	18,890	2,026,341 2,168,604	1,964,036 2,026,341

		Notes	2021	2020
Fixed assets
Intangible assets		15		444
Tangible assets		16	4,326,917	4,263,413
			4,326,917	4,263,857
Current assets
Debtors		17	6,876	10,285
Cash at bank and in hand			70,672	28,471
			77,548	3&,756
Creditors: amounts	falling due within one year	18	(170,642)	(70,443)
Net current assets			(93,094)	(31,687)
Total assets less current liabilities			4,233,823	4,232,170
Creditors: amounts	falling due aAer more than one year	19	(2,065,219)	(2,205,829)
Net assets			2,168,604	2,026,341
The funds ofthe charity
Restricted income funds			18,890
Unrestricted income funds			2,149,714	2,026,341
Total funds			2,168,604	2,026,341

	AS at 3	i AUQUSi P	i)2'l
Cash nows from operating activities			tlAtl 4 %VX I
Surplus for the year			142,263		62,305
Investment income recognised in the statement	offinancial	activities	-3
Loss/(gain) on disposal of property, plant &equipment			4,107		694
Depreciation and impairment ofproperty, plant 8 equipment			81,271
Movements in workin ca ital
Decrease! (!ncrease) in trade 8 other receiveabies					1,227
(Decrease) / increase in Creditors 8 other payables			2,673		162,965
(Decrease) / increase in deferred income			30,000		30,000
Cash (absorbed by) / generated from operations				201,282
investing activities
Purchase of property, plant 8 equipment			151,776		33,146
Proceeds on disposal of properly, plant &equipment			3i340
Investment income received					48
Net cash used in investing activities				148,433
Financing activities
Proceeds ofnew banK loans					181,000
Repayment ofbank loans			10,645		44,417
Net cash generated from financing activities				10,645
Net decrease in cash and cash equivalents				42,204
Cash and cash equivalents at beginning ofyear				28,469
Cash and cash equivalents at end ofyear				70,673

Grants	payable
		2021	2020
Community Action (The Cupboard)		87	3,546
Gilead	Foundation	3,000	3,000
Hillsong		6,148	6,957
Hope for Justice		1,200	1,200
Sozo Ministries International		1,200	1,200
Trauma	Recovery Centre	42	19,979
Rebuild	the Pastors	10,231	11,162
Other		5393	9060
		27,301	56,104
Grants	to individuals	8505	9272
		35,806	65,376

ncome	from d	onati	ons	a	nd legacies
							Unrestricted	Restricted	2021	2020
							funds	funds
Donations received							656,397	17,351	673,748	499,741
Grants	receivrKI							3,400	3,400
							656,397	20,751	677,148	499,741
Comparative		for Income			from donations	and legacies
								Unrestricted	Restricted	2020
								funds	funds
Donations received								376,418	123,325	499,743
Grants	received
								376,418	123,325	499,743
ncome	from charitable			activities
									2021	2020
									E	f
Unrestricted		funds
Advancement		ofChristian			faith
Sales	of Christian		Resources						20	899
Cafe income										2,759
Youth	&Student work			income					4,409	1,053
Rental Income (Freedom House)									25,200	20,200
Church weekend			away	income					15,582
									45,211	24,911
									45,211	24,911
ncome	earned	from other activities
									2021	2020
Unrestricted		funds
Letting	ofCar	Park							30,000	30,000
									30,000	30,000

5.Investment in	come
		2021	2020
Unrestricted	funds
Bank interest	receivable		48
			48
6.Other income
		2021	2020
Unrestricted	funds
Job Retention Scheme Grant		17,077	5,730
		17,077	5,730
7.Expenditure	on other trading activities
		2021f	2020
Unrestricted	funds
Fund raising	events	4,107	694
		4,107	694

osts ofcharit	able activit	ies by fund	type
				I IraraeIa Ir IaA VIV eQI& IVIVV		Daebrrr 4 A ~'\'QOII IVIVI'		'\n&4 ALIIS I	enon CII4II
					funds		funds
Advancement	of Christian	faith			305,701			305,701	271,510
Support costs					315,507		1,861	317,368	225,921
					621,208		1,861	623,069	497,431
Comparative	for costs ofcharitable		activities by fund type

Unrestricted	Restricted	2020
funds	funds
426,864	70,567	497,431

9.Costs ofchar	itable activi	tie	s by activ	ity type
					Activities	Support costs	2021	2020
					undertaken
					directly
					K
Support costs
Advancement	of Christian	faith			305,701	317,368	623,069	497,431
Comparative	for costs ofcharitable			activities by activity type
						Activities	Support	2020
						undertaken	costs
						directly
Charitable activities						271,510	225,921	497,431
10.Analysis of	support costs
							2021	2020
Advancement	ofChristian		faith
Management							272,431	179,606
Governance	costs						44,937	46,315
							317,368	225,921
11.Net income/(expenditure)			for the year
This is stated	after charging/(crediting):
							2021	2020
								R
Depreciation	ofowned fixed		assets				80,827	22,440
Amortisation	ofintangible	iixed assets
Trademarks							444	444
Accountancy	fees							2,520
Auditor's fees							4,620	4,620
Trustees' remuneration							30,778	34,569
Staff pension	contributions						6,988	5,296
Loss on disposal oftangible			fixed assets				4,107	694

Staff costs and emolu	Staff costs and emolu	ments	ments
Total staff costs for the		year ended 31August 2021 were:
				2021	2020
Salaries and wages				237,116	189,839
Hnrial seriirity	costs			22,811	9,936
Pension costs				6,988	5,296
				266,916	205,072
				2021	2020
ActiviTies in furtherance		oforganisations	objects	12	12
Management	and administration				3
				15

Comparative for the State	ment ofFinancial Activities
		Unrestricted	Restricted	2020
		funds	funds
			f
Income and endowments	from:
Donations and legacies		376,416	123,325	499,741
Charitable activities		24,911		24,911
Other trading activities		30,000		30,000
Investments		48		48
Other income		5,730		5,730
Total		437,105	123,325	560,430
Expenditure on:
Raisina funds		(694)		(694)
Charitable activities		(426,864)	(70,567)	(497,431)
Total		(427,558)	(70,567)	(498,125)
Transfers between funds		52,758	(52,758)
Net movement in funds		62,305		62,305
Reconciliation offunds
Total funds brought forward		1,964,036		1,964,036
Total funds carried forward		2,026,341		2,026,341
.Intangible fixed assets
				Trademarks
Cost or valuation
At 01 September 2020				4,442
Aj JA A.. .. l rLMA Nl 8 I tlugusL CUC I				~}RRC
Amortisation
At 01 September 2020				3,998
Charge for year				444
At 31 August 2021				4,442
Net book values
At 31 August 2021
At 31 August 2020

	Land and	Motor	Fixtures and
Cost or valuation	Buildings	Vehicles	Fittings	Totalf
At 01 September 2020	4,220,717	12,500	239,853	4,473,070
Additions	144,834		6,942	151,776
Disposals	(1,776)	(12,500)	(55,232)	(69,508)
At 31 August 2021	4,363,775		191,563	4,555,338
Depreciation
At 01 September 2020	36,981	12,277	160,398	209,656
Disposals	(440)	(12,277)	(49,345)	(62,062)
Charge for year	61,074		19,752	80,827
At 31 August 2021	97,616		130,805	228,421
Net book values
At 31 August 2021	4,266,159		60,758	4,326,917
At 31 August 2020	4,183,736	223	79,455	4,263,414

Debtors
		2021	2020
		K	f
Amounts due	within one year:
Trade debtors			5,574
Amounts due	by group and associated undertakings	1,566
Prepayments	and accrued income	5,080	2,948
Other debtors		230	1,763
		6,876	10,285

Creditors: amounts	falling due within one year
		2021	2020
		R
Loans and overdrafts		120,931	20,967
Trade creditors		8,772	7,076
Other creditors
PAYE &social security		6,319	5,260
Accruals and deferred	income	34,620	37,140
		170,642	70,443

					2021	2020
					R
Loans and overdrafts					1,978,284	2,088,894
Accruals	and	deferred	income		86,935	116,935
					2,065,219	2,205,829
The property		loan from	Stewardship		Services (UKET) Ltd was originally E1,995,000 in total charged at3.25% (variable at one
months'	notice) repayable			over 15	years.

In light ofthe uncertainty	caused by Covid-19 the charity applied for, and received, deferral	caused by Covid-19 the charity applied for, and received, deferral	caused by Covid-19 the charity applied for, and received, deferral	caused by Covid-19 the charity applied for, and received, deferral	caused by Covid-19 the charity applied for, and received, deferral	caused by Covid-19 the charity applied for, and received, deferral	caused by Covid-19 the charity applied for, and received, deferral	ofcapital repayments on	ofcapital repayments on	the loan.	the loan.	F1
million ofthe loan was interest			only until January 2021,when capital repayments				were due, but this interest only period				was
extended -capital repayments			started July 2021.The other part ofthe loan is still interest only and capital						repayments		are due to
start in November 2021.
The ioan from Stewardship		is	secured on Freedom	House, Lower	Brlstoi Road,		Bath, BA2	1EPand iand iying to the west of
Technology House, Lower		Bristol Road, Bath, BA2		1EP,as the same is registered at the Land Registry under title number AV26412
and AV93184.
Analysis ofnet assets	between funds
				Intangible			Tangible	Net current	Creditors	)	Net	Assets
				fixed assets		fixed assets		assets I	one year
								(liabilities)
								R		f
Unrestricted funds
General
General						4,326,.917		(111,.984)	(2,065,219)		2,149.,714
Restricted funds
Fencing fund								18,890				18,890
							4,326,917	(93,094)	(2,065,219)		2,168,604
Previous year
				Intangible			Tangible	Net current	Creditors	)	Net	Assets
				fixed assets		fixed assets		assets I	one year
								(liabilities)
Unrestricted funds
General
General					444		4,263,413	(31,687)	(2,205,829)		2,026,341
Restricted funds
					444		4,263,413	(31,687)	(2,205,829)		2,026,341

			Balance	Incoming	Resources	Transfers	Balance	Incoming	Resources	Balance at
			at 1 Sept	resources	expended		at 1 Sept	resources	expended	31August
			2019				2020		f	2021 f.
Fencing	fund							20,750	-1,861	18,890
Building	fund			118,102	-69,089	-49,013
Gifts for	visiting			125	-125
speakers
Trauma				123	-123
Recovery		Centre
Equipment		fund		4,975	-1,230	-3,745
				123,325	-70,567	-52,758		20,750	-1,861	18,890

24. Detailed Statement	ofFinancial Activities
		2021	2020
			f
INCOME AND ENDOWMENT
Donations and legacies
Donations		581,722	429,084
Gift Aid		92,026	70,657
Grants receivable		3,400
		677,148	499,741
Charitable activities
Sales ofChristian Resources		20	899
Cafe income			2,759
		n dna r&vvv	ArQ I )VU'V
Rental Income (Freedom House)		25,200	20,200
Other income		5,880
Church weekend away income		9,702
		45,211	24,911
Other trading activities
Income from Letting ofCar Park		30,000	30,000
		30,000	30,000
Investments
Bank interest receivable			48
			48
Other income
Job Retention Scheme Grant		17,077	5,730
		17,077	5,730
Total incoming resources		769,439	560,430
EXPENDITURE
Other trading activities
Loss on disposal ofassets		(4,107)	(694)
		(4,107)	(694)
Charitable activities
Staff costs - wages &salaries		(206,339)	(155,271)
Staff costs - social security costs		(22,811)	(9,936)
Staff costs - pension	contributions	(6,988)	(5,296)
Pastoral expenses		(4,635)	(3,423)
Sunday catering &supplies		(4,177)	(6,018)
Youth Work		(8,727)	(5,753)
Childrens Work		(983)	(1,722)
Church weekend away		(8,538)	(1,735)
Events - other		(4,608)	(10,516)
Training &resources		(1,855)	(6,182)
Resources for resale	&album costs	(234)	(282)
Grants to institutions		(27,301)	(56,104)
Grants to individuals		(8,505)	(9,272)

					(305,701)	(271,510)
SUPPORT COSTS
Management
Depreciation					(80,827)	(22,440)
Amortisation					(444)	(444)
Meetings &staff	welfare				(13)	(1,456)
Garage rent &storage					(3,700)	(3,588)
Church 8 office	equipment				(4,625)	(4,048)
Software, graphics		&	IT		(5,945)	(11,754)
Printing, postage	&	stationery			(1,198)	(1,849)
Telephone					(2,912)	(2,876)
Other office expenses			(inc cleaning,	H8S,website)	(27,297)	(3,959)
Utilities					(21,107)	(17,421)
Insurance					(6,742)	(7,224)
Travel &accomodation					(1,513)	(314)
Licenses 8 permits						(657)
Rates					(11,099)	(14,960)
Bank charges					(2,636)	(3,010)
Minibus					(330)	(720)
Subscriptions					(4,228)	(1,386)
Loan interest					(68,391)	(67,551)
Building repairs	&maintenance				(17,224)	(13,949)
Legal fees					(12,200)
					(272,431)	(179,606)
Governance costs
Wages and salaries					(30,778)	(34,569)
Accountancy fees					(6,494)	(2,520)
Audit fees					(4,620)	(4,620)
Legal fees					(3,045)	(4,606)
					(44,937)	(46,315)
Total resources expended					(627,176)	(498,125)
Net Income					142,263	62,305