DocuSign Envelope ID: DE925FD1-AA8A-4099-A82A-BD6387B3CBFD 

Charity number: 1072196 Company number: 03642766 

(England and Wales) 

Sound Church Ltd (previously known as Freedom-Bath) Report of the Trustees and Audited Financial Statements For the year ended 31 August 2022 



DocuSign Envelope ID: DE925FD1-AA8A-4099-A82A-BD6387B3CBFD 

## Sound Church Ltd Contents Page For the year ended 31 August 2022 

|Report of the Trustees|1 to 8|
|---|---|
|Report of the Auditors|9 to 12|
|Statement of Financial Activities|13|
|Statement of Financial Position|14|
|Statement of Cash Flows|15|
|Notes to the Financial Statements|16 to 28|





DocuSign Envelope ID: DE925FD1-AA8A-4099-A82A-BD6387B3CBFD 

## Sound Church Ltd Report of the Trustees 

## For the year ended 31 August 2022 

The Trustees, who are also directors for the purposes of company law, have pleasure in presenting their report and the financial statements for the charitable company for the year ended 31 August 2022. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Memorandum and Articles 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 the Republic of Ireland (FRS 102) (effective 1 January 2019). 

## **OBJECTIVES AND ACTIVITIES** 

## **Objectives and aims** 

As Trustees we seek to ensure as a church, we have considered the Commissions guidance on Public Benefit when planning our activities. Specifically with respect to the guidance on the advancement of religion. With this in mind the charities objects and principal activities are: 

- The furtherance of religious education. 

- The advancement of the Christian faith including missionary activities in the United Kingdom and overseas and     also including but not limited to the planning of new churches and organisations of congregations. 

- The relief of the poor and needy. 

- The relief of the sick and elderly. 

- Such other charitable objects for the benefit of such other charitable bodies and institutions as the committee shall in their absolute discretion see fit. 

These objectives enable us to provide public benefit in various ways through the various activities of the charity. 

Events are hosted and attended throughout the year to further the charities objects, including Sunday services, midweek meetings, social events and the Church Weekend Away in which the majority of the church go away to be strengthened and encouraged in their faith. These events are strategic in enabling people to connect with each other and with Jesus. 

Missions are those activities whereby the charity seeks to reach out to others helping to advance the Christian faith and or relieve poverty. A significant amount of our missions activities are through the provision of grants to individuals and charities who are undertaking work that contribute toward the objects of the charity as listed above. As well as giving to others we also run our own activities which also serve to reach out to the local and international community. These varied activities act to see the relief of poverty and the advancement of the Christian faith. Many of our small groups in church get involved in helping the communities they live in practical ways. With this in mind we work with social services to help some of the people most in need in our cities. 

Activities seek to care for, support and help people to move on in their lives both practically and spiritually. These activities are carried out to bring relief to the poor and needy and the sick and elderly, those requiring emotional and spiritual support. The provision of pastoral support has been continued throughout the year by the Lead Pastor, assisted by members of the pastoral team. This has enabled us to help both people inside and outside of the church as they seek to move forward in their lives. 

The core of the church's activities are found in its meetings, which are usually held on Sundays and many midweek evenings. These meetings are specifically aimed at teaching and growing people in their faith. Enabling them to help and encourage others in their daily life with Jesus and each other. 

The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'. 

## **Grantmaking** 

Mission is the generic term we give to gifts that we make to other organisations and individuals that furthers our charitable objects. When gifts are given the following criteria are always looked at before the gift is given: 

- When giving to the organisation, the trustees decide which organisations and the amount to be given 

- As stated in the Trustees report, we aim to give at least 10% of our unrestricted income away in mission gifts and grants 

1 



DocuSign Envelope ID: DE925FD1-AA8A-4099-A82A-BD6387B3CBFD 

## Sound Church Ltd 

## Report of the Trustees Continued For the year ended 31 August 2022 

## **Volunteers** 

The church has a total of 451 people who are active members, with a regular Sunday attendance of 260 people in the morning service, and an average of 75 people in the evening prayer meeting. Sound Church has an average attendance of 50 people on a Friday evening, with around 150 people attending different functions all week long. 

We have approximately 140 volunteers who are part of teams to enable the smooth running of the events and services. The volunteers are part of teams such as host, welcoming, car parking, cafe, sound team, AV, music bands, kids clubs, youth clubs, our social action teams and many others. The teams have meals together and social times, as well as meetings to enable the volunteer work to abide by all governance and policies. 

We recognize that volunteering for such teams has been evidenced based by researchers to be beneficial for mental health and wellbeing and facilitates a sense of wellbeing. The volunteers also help others have a sense of belonging and feel at home in our events. 

## **FINANCIAL REVIEW** 

There was a net surplus on general funds for the year of £62,938, leaving unrestricted reserves of £2,212,652 at 31st August 2022. 

We run several significant events, such as our weekend away, as a main way to integrate people into the organization so that they feel a sense of belonging and feel known by others. Whilst it can be a financial risk to run larger events, the impact is positive, both for those who attend and the sense of stability of the organization and those who attend feeling that they know more people and are known by more people. 

The Trustees are mindful of ever-increasing overheads and particularly the steep rise in interest rates of the church borrowing. The Trustees are confident that the growth of the church and the support of the congregation will meet these needs. 

## **Principal funding sources** 

Funding is generated predominantly through tithes and offerings given to the church from its members and other organisations. As such a significant source of income is the Gift Aid claimed on peoples gifts. In addition, the car park at Freedom House is let to a Trust who use it for their employees during the week and parts of Freedom House are let to another registered charity to carry out their work supporting the local community. 

## **Reserves** 

It was decided by the Trustees that the Church should hold in savings in unrestricted funds the equivalent of at least one month's staff salaries and outgoings in order to cover any shortfall in the giving to the charity. Therefore, the charity seeks to hold a minimum of £20,000 in reserve. In view of the building development, additional financial commitments taken on and the impact of the Covid-19 virus, the reserve policy is under constant review. 

## **PLANS FOR FUTURE PERIODS** 

The future of the charity is to continue the morning services and evening prayer and healing nights, alongside continuing the excellent kids and youth programme and young adults and 40+ programmes. We have seen these take place successfully this year, following the Covid season and feel that the momentum is increasing both with numbers and enthusiasm. 

Sound Church has no plans to start any new projects and feel that the current ones give us enough to develop. The social action arm of the churches projects are gaining in popularity and many people in the city are beginning to come to the church when they are in need. This team has enabled many others to be a part of a positive team with a sense of purpose in helping others. 

2 



DocuSign Envelope ID: DE925FD1-AA8A-4099-A82A-BD6387B3CBFD 

## Sound Church Ltd Report of the Trustees Continued For the year ended 31 August 2022 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Governing document** 

The name of the Trust was changed from Freedom-Bath to Sound Church Ltd on 5 December 2022. 

The Trustees, who are also the directors for the purpose of company law, and who served during the year were: 

Mrs E de Thierry Mr JM Needham Mr S Matthew Ms J Stretford (appointed 30th November 2021; resigned 19th August 2022) Ms K Ottley (appointed 11th April 2022) 

The Chairman of Trustees appoints trustees with relevant business and/or church experience to serve as trustees for a period of normally at least 2 years. Trustees are active members or supporters of Sound Church Ltd. 

Most Trustees are already familiar with the activities undertaken by the charity as commonly active members of or long-term supporters of the church are selected for the role. Copies of the Memorandum and Articles of Association are made available, and an overview of recent activities, obligations and plans are given to them at a meeting with the Chairman of the Trustees. 

The charity is led by the lead pastor, Mrs E deThierry, with the support of the pastoral team. The church is a part of wider church networks such as the Evangelical Alliance and Wave Church Network. 

The board meet four or five times a year to administer the charity. They are not a board of elders and have no pastoral function, their role is to oversee the legal and financial aspects (governance) of the charity and to ensure compliance with statutory reporting requirements and that risks to which the charity is exposed are reviewed, minimised, and managed accordingly. Mrs E de Thierry will present those plans which have a financial cost to the trustees who will advise and make recommendations on the best method of implementation or compliance. 

## **Related parties** 

Freedom Bath + Bristol Developments Limited is a limited company which was engaged by the charity to carry out the design and build contract for the erection of the new auditorium. 

The charity also supports the Trauma Recovery Centre financially. Mrs E de Thierry is the founder and a Trustee of Trauma Recovery Centre. 

Betsy de Thierry Ltd is a limited compay that provides professional support to members of the church. Mrs E de Thierry is director/shareholder of the company. 

## **Pay policy for senior staff** 

The trustees are meeting over the summer of 2023 to discuss an appropriate pay scale for Bath which has similarities to London pay, due to rising cost of house prices and cost of living in the area. most of the staff have had to have financial help to be able to work for the church, with reduced costs of rent, living a long way outside of the city or having relatives subsidize income and we aim to work out how to reduce this financial stress whilst recognizing that it is a charity with limited income. 

## **Risk management** 

The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. 

The auditor, Caladine Limited, is deemed to be reappointed under section 487(2) of the Companies Act 2006. 

3 



DocuSign Envelope ID: DE925FD1-AA8A-4099-A82A-BD6387B3CBFD 

Sound Church Ltd Report of the Trustees Continued For the year ended 31 August 2022 

## **REFERENCE AND ADMINISTRATIVE INFORMATION** 

Name of Charity Sound Church Ltd Charity registration number 1072196 Company registration number 03642766 Principal address Freedom House Lower Bristol Road Bath BA2 1EP 

## **Trustees** 

The trustees and officers serving during the year and since the year end were as follows: 

Mrs E de Thierry Mr JM Needham Mr S Matthew Ms J Stetson (Appointed: 30 November 2021; Resigned: 19[th] August 2022) Ms K Ottley (Appointed: 11[th] April 2022) 

**Secretary** Mrs H Sell 

**Auditors** Caladine Ltd Chantry House 22 Upperton Road Eastbourne BN21 1BF 

**Accountants** Chippendale & Clark First Floor, Absol House Ivy Road Chippenham SN15 1SB 

**Bankers** HSBC 45 Milsom Street Bath BA1 1DU 

Stewardship Services (UKET) Limited 1 Lambs Passage London EC1Y 8AB 

4 



DocuSign Envelope ID: DE925FD1-AA8A-4099-A82A-BD6387B3CBFD 

## Sound Church Ltd Report of the Trustees Continued For the year ended 31 August 2022 

## **RESPONSIBILITIES OF THE TRUSTEES** 

The Trustees, who are also directors for the purposes of company law, are who are also directors of Sound Church Ltd for the purposes of Company Law are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

The Trustees are required to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources of the charitable company for that period. In preparing those financial statements, the trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the charities SORP; 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable UK accounting standards and statements of recommend practice have been followed, subject to any departures disclosed and explained in the financial statements; and 

- prepare the financial statements on a going concern basis unless it is inappropriate to presume that this basis applies. 

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

In so far as the Trustees are aware: 

- there is no relevant information, being information needed by the auditor in connection with preparing their report, of which the auditor is unaware; and 

- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. 

Approved by the Board of Trustees and signed on its behalf by 

............................................................................. 

5/19/2023 

Mrs E de Thierry 

5 



DocuSign Envelope ID: DE925FD1-AA8A-4099-A82A-BD6387B3CBFD 

Sound Church Ltd Report of the Trustees Continued For the year ended 31 August 2022 

## **Achievements & Performance 2021-2022** 





## **SEPTEMBER 2021** 

Grief Café 

Guvna B 

## **OCTOBER 2021** 

Worship team training and auditions 

Heart and Soul 

Youth Overnight trip Kids Conference 

Big Student Party 

## **NOVEMBER 2021** 

Sam Milchem guest speaker 

Men’s Conference with Ben Lindsay 

Students & Young Adults Firework night 

## **DECEMBER 2021** 

Christmas Carol Services x2 

Nativity Service 

Christingle Drive Through 

6 



DocuSign Envelope ID: DE925FD1-AA8A-4099-A82A-BD6387B3CBFD 

## Sound Church Ltd Report of the Trustees Continued For the year ended 31 August 2022 



**January 2022** Grief Café 

Men’s Breakfast Heart & Soul 

## **February 2022** 

New Prophetic Training Cohort 1 Young Carers Afternoon First Fences were installed 


## **March 2022** 

Rise & Build 

Mothers Day 

New Branding Completed 

Betsy Spoke in the Hague & for message trust 


## **April 2022** 

Women’s Conference 

Easter Sunday Uniform Cupboard 

7 



DocuSign Envelope ID: DE925FD1-AA8A-4099-A82A-BD6387B3CBFD 

## Sound Church Ltd Report of the Trustees Continued For the year ended 31 August 2022 


## **May 2022** 

Church Weekend Away 

## Authentic Festival 

Premier Christianity Magazine Visits (Trauma Informed Church) 


## **June 2022** 

Big Church Day Out – Stall for Trauma Informed Church Staff Party & Celebration 

Fathers Day 


## **July 2022** 

Stephen Matthews visited to Speak 

Re-started a foodbank 

Sound Global Collective day, hosting trustees from various charities that Sound supports 

Painting Party around Freedom House & TRC 

Summer of Fun started 


## **August 2022** 

Summer of Fun continued 

Summer Parties & Picnics 

De Thierry’s went to Wave conference & Betsy spoke in 

2 services 

Dan Belshaw visited to speak 

8 



DocuSign Envelope ID: DE925FD1-AA8A-4099-A82A-BD6387B3CBFD 

## Independent auditors' report to the members of Sound Church Ltd 

## **Opinion** 

We have audited the financial statements of Sound Church Ltd (the 'charity') for the year ended 31 August 2022 which comprise the statement of financial activities, the statement of financial position, the statement of cash flows and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic  of Ireland" (United Kingdom Generally Accepted Accounting Practice). 

## In our opinion, the financial statements: 

- give a true and fair view of the state of the charitable company's affairs as at 31 August 2022 and of its incoming resources and application of resources, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. 

## **Other information** 

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

We have nothing to report in this regard. 

## **Opinions on other matters prescribed by the Companies Act 2006** 

In our opinion, based on the work undertaken in the course of our audit: - the information given in the Trustees' report, which includes the directors' report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the directors' report included within the Trustees' report has been prepared in accordance with applicable legal requirements. 

9 



DocuSign Envelope ID: DE925FD1-AA8A-4099-A82A-BD6387B3CBFD 

## Independent auditors' report to the members of 

## Sound Church Ltd Continued 

## **Matters on which we are required to report by exception** 

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the Trustees' report. 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

-certain disclosures of trustees' remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit; or 

- the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' report and from the requirement to prepare a strategic report. 

## **Responsibilities of trustees** 

As explained more fully in the statement of Trustees' responsibilities, the Trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. 

10 



DocuSign Envelope ID: DE925FD1-AA8A-4099-A82A-BD6387B3CBFD 

## Independent auditors' report to the members of Sound Church Ltd Continued 

## **Auditors responsibilities for the audit of the financial statements** 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. 

## **The extent to which the audit was considered capable of detecting irregularities including fraud** 

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, was as follows: 

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; 

- we identified the laws and regulations applicable to the charity through discussions with Trustees, and from our commercial knowledge and experience of the charity sector; 

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charity, including the Companies Act 2006, Charities Act 2011, employment legislation, health and safety, and AntiMoney Laundering laws; 

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and 

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of noncompliance throughout the audit. 

We assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: 

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and 

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. 

## **Audit response to risks identified** 

To address the risk of fraud through management bias and override of controls, we: 

- performed analytical procedures to identify any unusual or unexpected relationships; 

- tested journal entries to identify unusual transactions; 

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and - investigated the rationale behind significant or unusual transactions. 

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: 

- agreeing financial statement disclosures to underlying supporting documentation; 

- reading the minutes of meetings of those charged with governance; 

- enquiring of management as to actual and potential litigation and claims; and 

- reviewing correspondence with HMRC and relevant regulators 

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any. 

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. 

11 



DocuSign Envelope ID: DE925FD1-AA8A-4099-A82A-BD6387B3CBFD 

## Independent auditors' report to the members of Sound Church Ltd Continued 

A further description of our responsibilities is available on the Financial Reporting Council's website at: http://www.frc.org.uk/auditorsresponsibilities. 


John Richard Caladine FCCA CTA FCIE (Senior Statutory Auditor) For and on behalf of Caladine Limited Chartered Certified Accountants Statutory Auditor 


Chantry House 22 Upperton Road Eastbourne East Sussex BN21 1BF 

12 



DocuSign Envelope ID: DE925FD1-AA8A-4099-A82A-BD6387B3CBFD 

## Sound Church Ltd 

## Statement of Financial Activities (including Income and Expenditure Account) For the year ended 31 August 2022 

|**Notes**<br>**Income and endowments from:**<br>Donations and legacies<br>2<br>Charitable activities<br>3<br>Other trading activites<br>4<br>Investments<br>5<br>Other income<br>6<br>**Total**<br>**Expenditure on:**<br>Raising funds<br>7<br>Charitable activities<br>8/9<br>**Total**<br>**Transfers between funds**<br>**Net movement in funds**<br>**Reconciliation of funds**<br>Total funds brought forward<br>**Total funds carried forward**<br>23|**Unrestricted**<br>**funds**<br>**£**<br>706,219<br>54,041<br>30,000<br>11<br>1,481|**Restricted**<br>**funds**<br>**£**<br>132<br>-<br>-<br>-<br>-|**2022**<br>**£**<br>706,351<br>54,041<br>30,000<br>11<br>1,481|**2021**<br>**£**<br>677,148<br>45,211<br>30,000<br>3<br>17,077|
|---|---|---|---|---|
||**791,752**|**132**|**791,884**|**769,439**|
||-<br>(747,054)|-<br>(782)|-<br>(747,836)|(4,107)<br>(623,069)|
||**(747,054)**|**(782)**|**(747,836)**|**(627,176)**|
||18,240|(18,240)|-|-|
||**62,938**|**(18,890)**|**44,048**|**142,263**|
||2,149,714|18,890|2,168,604|2,026,341|
||**2,212,652**|**-**|**2,212,652**|**2,168,604**|



13 



DocuSign Envelope ID: DE925FD1-AA8A-4099-A82A-BD6387B3CBFD 

Registered Number : 

03642766 

## Sound Church Ltd Statement of Financial Position As at 31 August 2022 

|**Notes**<br>**Fixed assets**<br>Tangible assets<br>16<br>**Current assets**<br>17<br>Debtors<br>Cash at bank and in hand<br>**Creditors: amounts falling due within one year**<br>18<br>**Net current assets**<br>**Total assets less current liabilities**<br>**Creditors: amounts falling due after more than one year**<br>19<br>**Net assets**<br>**The funds of the charity**<br>Restricted income funds<br>Unrestricted income funds<br>**Total funds**|**£**<br>**2022**<br>4,268,332|**£**<br>**2021**<br>4,326,917|
|---|---|---|
||**4,268,332**|**4,326,917**|
||16,241<br>36,128|6,876<br>70,672|
||**52,369**|**77,548**|
||(124,539)<br>**(72,170)**|(170,642)<br>**(93,094)**|
||**4,196,162**|**4,233,823**|
||(1,983,510)|(2,065,219)|
||**2,212,652**|**2,168,604**|
||-<br>2,212,652|18,890<br>2,149,714|
||**2,212,652**|**2,168,604**|



For the year ended 31 August 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. 

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476, 

The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime. 

The financial statements were approved and authorised for issue by the Board and signed on its behalf by: 


Mrs  E de Thierry Trustee 


14 



DocuSign Envelope ID: DE925FD1-AA8A-4099-A82A-BD6387B3CBFD 

## Sound Church Ltd Statement of Cash Flows As at 31[st] August 2022 

|**Cash flows from operating activities**|**2022**||**2021**||
|---|---|---|---|---|
|Surplus for the year|44,049||142,263||
|Adjustments for:|||||
|Investment income recognised in the statement of financial activities|(11)||(3)||
|Loss/(gain) on disposal of property, plant & equipment|0||4,107||
|Depreciation and impairment of property, plant & equipment|81,987||81,271||
|Movements in working capital|||||
|Decrease / (increase) in trade & other receiveables|(8,808)||6,318||
|(Decrease) / increase in Creditors & other payables|(3,705)||(2,673)||
|(Decrease) / increase in deferred income|(30,000)||(30,000)||
|**Cash (absorbed by) / generated from operations**||83,511||201,282|
|**Investing activities**|||||
|Purchase of property, plant & equipment|(23,402)||(151,776)||
|Proceeds on disposal of property, plant & equipment|0||3,340||
|Investment income received|11||3||
|**Net cash used in investing activities**||(23,391)||(148,433)|
|**Financing activities**|||||
|Proceeds of new bank loans|0||0||
|Repayment of bank loans|(94,663)||(10,645)||
|**Net cash generated from financing activities**||(94,663)||(10,645)|
|Net decrease in cash and cash equivalents||(34,543)||42,204|
|Cash and cash equivalents at beginning of year||70,673||28,469|
|**Cash and cash equivalents at end of year**||36,130||70,673|



15 



DocuSign Envelope ID: DE925FD1-AA8A-4099-A82A-BD6387B3CBFD 

## Sound Church Ltd Notes to the Financial Statements 

## For the year ended 31 August 2022 

## **1. Accounting Policies** 

## **Basis of accounting** 

The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP (FRS 102) 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), Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Charities Act 2011. 

Sound Church Ltd 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). 

Sound Church Ltd is a charitable company limited by guarantee incorporated in England and Wales. 

These financial statements are prepared in Sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. 

## **Going concern** 

The continued support of the church congregation and church bankers has resulted in another successful year for the charity despoite the ongoing effects of the Covid-19 pandemic. This is expected to continue thus ensuring the charity 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 these financial statements. 

## **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 purposes and uses of the restricted funds are set out in the notes to the financial statements. 

## **Incoming resources** 

All incoming resources are included in the statement of financial activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy.  The following specific policies are applied to particular categories of income: 

Cash donations are recognised on receipt. Other donations are recognised once the charity 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 as unrestricted income. 

Voluntary income is received by way of donations and gifts. It is shown in full in the Statement of Financial Activities when received. 

In July 2019 the charity received the sum of £180,000 from a local housing association as an advance payment for use of the charity's car park. The remaining amount is shown as deferred income on the balance sheet, with the income being recognised at a rate of £30,000 per year over the 6 year lease period to July 2025. 

## **Resources expended** 

Liabilities are recognised as resources expended when there is a legal or constructive obligation committing the Charity to the expenditure: 

## **Taxation** 

The Trustees consider that none of the income of the charity is subject to UK taxation. 

16 



DocuSign Envelope ID: DE925FD1-AA8A-4099-A82A-BD6387B3CBFD 

## Sound Church Ltd 

## Notes to the Financial Statements Continued 

## For the year ended 31 August 2022 

## **Intangible assets** 

Intangible assets acquired separately from a charity are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date if the fair value can be measured reliably. 

These costs relate to the costs of Trademarks for Freedom Bath & Bristol, Freedom Arts College and Freedom Churches. 

Amortisation 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: 

Trademarks -10% on a straight line basis 

## **Tangible fixed assets** 

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Fixed assets that cost over £500 are capitalised in the accounts. 

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: 

Freehold property - 2% on a straight line basis Fixtures, fittings and equipment - 25% on a reducing balance basis Motor vehicle - 25% on a reducing balance basis 

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 net income/(expenditure) for the year. 

## **Grants payable** 

||2022|2021|
|---|---|---|
|Community Action (The Cupboard)|250|87|
|Gilead Foundation|3,000|3,000|
|Hillsong|8,360|6,148|
|Hope for Justice|1,200|1,200|
|Sozo Ministries International|1,200|1,200|
|Trauma Recovery Centre|2,190|42|
|Rebuild Leaders|9,813|10,231|
|Other|5,292|5,393|
||31,305|27,301|
|Grants to Individuals|8,269|8,505|
|Total Grants payable|39,574|35,806|



17 



DocuSign Envelope ID: DE925FD1-AA8A-4099-A82A-BD6387B3CBFD 

## Sound Church Ltd Notes to the Financial Statements Continued For the year ended 31 August 2022 

## **2. Income from donations and legacies** 

|Donations received<br>Grants received|**Unrestricted**<br>**funds**<br>**Restricted**<br>**funds**<br>**2022**<br>**2021**<br>**£**<br>**£**<br>**£**<br>**£**<br>706,219<br>132<br>706,351<br>673,748<br>-<br>-<br>-<br>3,400|
|---|---|
||**706,219**<br>**132**<br>**706,351**<br>**677,148**|



## **Comparative for Income from donations and legacies** 

|Donations received<br>Grants received|**Unrestricted**<br>**funds**<br>**Restricted**<br>**funds**<br>**2021**<br>**£**<br>**£**<br>**£**<br>656,397<br>17,351<br>673,748<br>-<br>3,400<br>3,400|
|---|---|
||**656,397**<br>**20,751**<br>**677,148**|



18 



DocuSign Envelope ID: DE925FD1-AA8A-4099-A82A-BD6387B3CBFD 

## Sound Church Ltd 

## Notes to the Financial Statements Continued For the year ended 31 August 2022 

## **3. Income from charitable activities** 

||**2022**|**2021**|
|---|---|---|
||**£**|**£**|
|**Unrestricted funds**|||
|_Advancement of Christian faith_|||
|Sales of Christian Resources|557|20|
|Cafe income|6,252|-|
|Youth & Student work income|5,812|4,409|
|Rental Income (Freedom House)|20,700|25,200|
|Other income|20,720|15,582|
||**54,041**|**45,211**|
||**54,041**|**45,211**|
|**ncome earned from other activities**|||
||**2022**|**2021**|
||**£**|**£**|
|**Unrestricted funds**|||
|Letting of Car Park|30,000|30,000|
||**30,000**|**30,000**|
|**nvestment income**|||
||**2022**|**2021**|
||**£**|**£**|
|**Unrestricted funds**|||
|Bank interest receivable|11|3|
||**11**|**3**|
|**ther income**|||
||**2022**|**2021**|
||**£**|**£**|
|**Unrestricted funds**|||
|Job Retention Scheme Grant|1,481|17,077|
||**1,481**|**17,077**|



## **4. Income earned from other activities** 

## **5. Investment income** 

## **6. Other income** 

19 



DocuSign Envelope ID: DE925FD1-AA8A-4099-A82A-BD6387B3CBFD 

Sound Church Ltd Notes to the Financial Statements Continued For the year ended 31[st] August 2022 

## **7. Expenditure on other trading activities** 

Fund raising events 

|**2022**<br>**£**<br>-|**2021**<br>**£**<br>4,107|
|---|---|
|**-**|**4,107**|



## **8. Costs of charitable activities by fund type** 

|**Comparison for costs of charitable activities by fund type**<br>Advancement of Christian Faith<br>Support Costs<br>**Activities**<br>**undertaken**<br>**directly**<br>**Support Costs**<br>**£**<br>Advancement of Christian Faith<br>384,644<br>**Comparison for costs of charitable activities by activity type**<br>Advancement of Christian Faith<br>**Unrestricted**<br>**funds**<br>**£**<br>384,644<br>Advancement of Christian faith<br>362,410<br>Support costs<br>**747,054**<br>**9. Costs of charitable activities by activity type**|**Unrestricted**<br>**funds**<br>**£**<br>305,701<br>315,507<br>**621,208**<br>**Support**<br>**costs**<br>**£**<br>363,192<br>**Activities**<br>**undertaken**<br>**directly**<br>**£**<br>305,701<br>**Restricted**<br>**funds**<br>**£**<br>-<br>782<br>**782**|**2022**<br>**£**<br>384,644<br>363,192|**2021**<br>**£**<br>305,701<br>317,368|
|---|---|---|---|
|||**747,836**|**623,069**|
|||**Restricted**<br>**funds**<br>**£**<br>-<br>1,861|**2021**<br>**£**<br>305,701<br>317,368|
|||**1,861**|**623,069**|
|||**2022**<br>**£**<br>747,836<br>**Support**<br>**Costs**<br>**£**<br>317,368|**2021**<br>**£**<br>623,069<br>**2021**<br>**£**<br>623,069|



## **9. Costs of charitable activities by activity type** 

## **10. Analysis of support costs** 

|**Advancement of Christian faith**<br>Management<br>Governance Costs|**2022**<br>**2021**<br>**£**<br>**£**<br>316,293<br>272,431<br>46,899<br>44,937<br>**363,192**<br>**317,368**|
|---|---|



20 



DocuSign Envelope ID: DE925FD1-AA8A-4099-A82A-BD6387B3CBFD 

## Sound Church Ltd 

## Notes to the Financial Statements Continued 

## **11. Net income/(expenditure) for the year** 

This is stated after charging/(crediting): 

|This is stated after charging/(crediting):|||
|---|---|---|
||**2022**|**2021**|
||**£**|**£**|
|Depreciation of owned fixed assets|81,987|80,827|
|Amortisation of intangible fixed assets|||
|Trademarks|-|444|
|Accountancy fees|10,781|6,494|
|Auditor's fees|8,820|4,620|
|Trustees' remuneration|24,790|30,778|
|Staff pension contributions|7,426|6,988|
|(Gain)/Loss on disposal of tangible fixed assets|-|4,107|



## **12. Staff costs and emoluments** 

Total staff costs for the year ended 31 August 2022 were: 

|Total staff costs for the year ended 31 August 2022 were:|||
|---|---|---|
||**2022**|**2021**|
||**£**|**£**|
|Salaries and wages|268,073|237,116|
|Social security costs|19,321|22,811|
|Pension costs|7,426|6,988|
||**294,820**|**266,916**|
|he average number of employees during the year was:|||
||**2022**|**2021**|
|Activities in furtherance of organisations objects|11|12|
|Management and administration|3|3|
||**14**|**15**|



The average number of employees during the year was: 

A portion of the salary cost totalling £9,813 (2021: 9,813) is for the Church’s Missions work. The wages are considered part of the grant allocation under the Rebuild Leaders category and are therefore not included in the above figures. 

The number of employees whose annual remuneration was more than £60,000 is as follows: 

||**2022**|**2021**|
|---|---|---|
||**£**|**£**|
|Aggregate compensation|69,538|67,099|



The remuneration of key management personnel is as follows: 

||**2022**|**2021**|
|---|---|---|
||**£**|**£**|
|£60,001-£70,000|1|-|



The church is also wonderfully served by many unpaid volunteers acting in a variety of ways. 

21 



DocuSign Envelope ID: DE925FD1-AA8A-4099-A82A-BD6387B3CBFD 

## Sound Church Ltd Notes to the Financial Statements Continued For the year ended 31 August 2022 

## **13. Trustee remuneration and related party transactions** 

Mrs E deThierry (trustee) received a salary of £59,500 (2021: £59,500) as the Lead Pastor and pension contributions of £2,800 (2021: £2,800). This payment is permitted within the constitution of the charitable company. 

Three family member of Mrs E deThierry received salaries totalling £85,406 (£80,946). 

A family member of Mr J Needham received a salary of £5,067 (2021: £4,229) 

Aggregate donation to the charity during the year from Trustees and related parties were £38,539 (2021: £37,851) 

Betsy deThierry Ltd is a limited company that provides professional support to members of the church. Mrs E deThierry is a director shareholder of this company. A payment of £12,000 (2021: £12,000 was made to the company for professional services such as consultancy, complex trauma support and care & for additional training on courses such as the Certificate of Therapeutic Mentoring. 

Freedom Bath + Bristol Developments Limited is a limited company which was engaged by the charity to carry out the design and build contract for the erection of the new auditorium. The charity is now hiring equipment from the company. The charity owes the company £566 at the year end (2021: £-1,565). 

The charity also supports the Trauma Recovery Centre (TRC) financially. Mrs E deThierry is the founder and a Trustee of the Trauma Recovery Centre. The charity provided support of £2,190 (2021: £42). TRC leases premises at Freedom House from the charity, they paid rent of £19,200 (2021: £26,200). The total rent from TRC of £19,200 (2021: £26,200) is recognised as charitable rental income in the accounts. 

None of the trustees have claimed expenses or had their expenses met by the charity in relation to their roles as trustees. 

## **14. Comparative for the Statement of Financial Activities** 

|**Income and endowments from:**<br>Donations and legacies<br>Charitable activities<br>Other trading activites<br>Investments<br>Other income<br>**Total**<br>**Expenditure on:**<br>Raising funds<br>Charitable activities<br>**Total**<br>**Net income**<br>**Reconciliation of funds**<br>Total funds brought forward<br>**Total funds carried forward**|**Unrestricted**<br>**funds**<br>**£**<br>656,397<br>45,211<br>30,000<br>3<br>17,077|**Restricted**<br>**funds**<br>**£**<br>20,751<br>-<br>-<br>-<br>-|**2021**<br>**£**<br>677,148<br>45,211<br>30,000<br>3<br>17,077|
|---|---|---|---|
||**748,688**|**20,751**|**769,439**|
||(4,107)<br>(621,208)|-<br>(1,861)|(4,107)<br>(623,069)|
||**(625,315)**|**(1,861)**|**(627,176)**|
||**123,373**<br>2,026,341|**18,890**<br>-|**142,263**<br>2,026,341|
||**2,149,714**|**18,890**|**2,168,604**|



22 



DocuSign Envelope ID: DE925FD1-AA8A-4099-A82A-BD6387B3CBFD 

## Sound Church Ltd Notes to the Financial Statements Continued For the year ended 31 August 2022 

## **15. Intangible fixed assets** 

|**Cost or valuation**<br>At 01 September 2021<br>At 31 August 2022<br>**Amortisation**<br>At 01 September 2021<br>At 31 August 2022<br>**Net book values**<br>At 31 August 2022<br>At 31 August 2021|**£**<br>**Trademarks**<br>4,442|
|---|---|
||**4,442**|
||4,442|
||**4,442**|
||**-**|
||**-**|



## **16. Tangible fixed assets** 

|**Cost or valuation**<br>At 01 September 2021<br>Additions<br>At 31 August 2022<br>**Depreciation**<br>At 01 September 2021<br>Charge for year<br>At 31 August 2022<br>**Net book values**<br>At 31 August 2022<br>At 31 August 2021<br>**Debtors**<br>**Amounts due within one year:**<br>Amounts due by group and associated undertakings<br>Prepayments and accrued income<br>Other debtors|**Fixtures and**<br>**Fittings**<br>**Land and**<br>**Buildings**<br>**£**<br>**£**<br>191,563<br>4,363,775<br>5,162<br>18,240<br>**4,382,015**<br>**196,725**<br>130,805<br>97,616<br>16,548<br>65,439<br>**147,353**<br>**163,055**<br>**4,218,960**<br>**4,266,159**<br>**49,372**<br>**60,758**<br>**2022**<br>**£**<br>487<br>15,524<br>230<br>**16,241**|**Total**<br>**£**<br>4,555,338<br>23,402|
|---|---|---|
|||**4,578,740**|
|||228,421<br>81,987|
|||**310,408**|
|||**4,268,332**|
|||**4,326,917**|
|||**2021**<br>**£**<br>1,566<br>5,080<br>230|
|||**6,876**|



## **17. Debtors** 

23 



DocuSign Envelope ID: DE925FD1-AA8A-4099-A82A-BD6387B3CBFD 

## Sound Church Ltd 

## Notes to the Financial Statements Continued For the year ended 31 August 2022 

## **18. Creditors: amounts falling due within one year** 

|**Creditors: amounts falling due within one year**|||
|---|---|---|
||**2022**|**2021**|
||**£**|**£**|
|Loans and overdrafts|77,977|120,931|
|Trade creditors|1,938|8,772|
|Amounts due to subsidary and associated undertakings|556|-|
|Other creditors|||
|PAYE & social security|7,348|6,319|
|Accruals and deferred income|36,720|34,620|
||**124,539**|**170,642**|
|**Creditors: amounts falling due after more than one year**|||
||**2022**|**2021**|
||**£**|**£**|
|Loans and overdrafts|1,926,575|1,978,284|
|Accruals and deferred income|56,935|86,935|
||**1,983,510**|**2,065,219**|



## **19. Creditors: amounts falling due after more than one year** 

## **20. Borrowings** 

||**2022**|**2021**|
|---|---|---|
||**£**|**£**|
|Bank loans|2,004,552|2,099,216|
|Payable within one year|77,977|120,931|
|Payable after one year|1,926,575|1,978,284|



The property loan from Stewardship Services (UKET) Ltd was originally £1,995,000 in total charged at 3.25% (variable at one months notice) repayable over 15 years. 

In 2019-20 the charity received a further advance from Stewardship of £181,000 to pay outstanding liabilities relating to the construction of the new auditorium and profession/legal fees. 

In light of the uncertianty caused by Covid-19, the charity applied for, and received, deferral of capital repayments on the loan. £1 million was interest only until January 2021, when capital repayments were due, but this interest only period ceased in July 2021 when capital repayments started. The other part of the loan was interest only until November 2021 when capital repayments started. 

The loan from Stewardship is secured on Freedom House, Lower Bristol Road, Bath, BA2 1EP and land lying west of Technology House, Lower Bristol Road, Bath, BA2 1EP, and the same is registered at the Land Registry under title numbers AV26412 and AV93184. 

24 



DocuSign Envelope ID: DE925FD1-AA8A-4099-A82A-BD6387B3CBFD 

Sound Church Ltd Notes to the Financial Statements Continued For Year ended 31 August 2022 

## **21. Deferred Income** 

||**£**|
|---|---|
|Deferred income at 1 September 2021|116,935|
|Deferred income released in the year|(30,000.00)|
|Deferred income at 31 August 2022|86,935|



## **22. Analysis of net assets between funds** 



25 



DocuSign Envelope ID: DE925FD1-AA8A-4099-A82A-BD6387B3CBFD 

## Sound Church Ltd Notes to the Financial Statements Continued For the year ended 31 August 2022 

## **23. Restricted Funds** 

||**Balance**||||**Balance**||||**Balance at**|
|---|---|---|---|---|---|---|---|---|---|
||**at 1 Sept**|**Incoming**|**Resources**|**Transfers**|**at 1 Sept**|**Incoming**|**Resources**|**Transfers**|**31 Aug**|
||**2020**|**resources**|**expended**||**2021**|**resources**|**expended**||**2022**|
||||-|||||||
|Fencing fund|-|20,750|(1,861)|-|18,890|132|(782)|(18,240)|-|
||||**-**|||||||
||**-**|**20,750**|**(1,861)**|**-**|<br>**18,890**|**132**|**(782)**|**(18,240)**|**-**|



The fencing fund was set up to raise funds to improve the perimeter and security at Freedom House. 

The transfer to the General fund represents the expenditure incurred to meet this objective. 

26 



DocuSign Envelope ID: DE925FD1-AA8A-4099-A82A-BD6387B3CBFD 

## Sound Church Ltd Notes to the Financial Statement Continued For the year ended 31 August 2022 

## **24. Detailed Statement of Financial Activities** 

||||
|---|---|---|
|**4. Detailed Statement of Financial Activities**<br>**INCOME AND ENDOWMENT**<br>**Donations and legacies**<br>Donations<br>Gift Aid<br>Grants receivable<br>**Charitable activities**<br>Sales of Christian Resources<br>Cafe income<br>Youth & Student work income<br>Rental Income (Freedom House)<br>Other income<br>Church weekend away income<br>**Other trading activities**<br>Income from Letting of Car Park<br>**Investments**<br>Bank interest receivable<br>**Other income**<br>Job Retention Scheme Grant<br>**Total incoming resources**<br>**EXPENDITURE**<br>**Other trading activities**<br>Loss on disposal of assets<br>**Charitable activities**<br>Staff costs - wages & salaries<br>Staff costs - social security costs<br>Staff costs - pension contributions<br>Pastoral expenses<br>Sunday catering & supplies<br>Youth Work<br>Childrens Work<br>Church weekend away<br>Events - other<br>Training & resources<br>Resources for resale & album costs<br>Grants to institutions<br>Grants to individuals|**£**<br>**2022**<br>587,807<br>118,544<br>-<br>**706,351**<br>557<br>6,252<br>5,812<br>20,700<br>8,476<br>12,244<br>**54,041**<br>30,000<br>**30,000**<br>11<br>**11**<br>1,481<br>**1,481**|**£**<br>**2021**<br>581,722<br>92,026<br>3,400|
|||**677,148**<br>20<br>-<br>4,409<br>25,200<br>5,880<br>9,702|
|||**45,211**<br>30,000|
|||**30,000**<br>3|
|||**3**<br>17,077|
|||**17,077**|
||**791,884**<br>-<br>**-**<br>(243,283)<br>(19,321)<br>(7,426)<br>(12,726)<br>(6,235)<br>(8,468)<br>(1,836)<br>(12,896)<br>(29,729)<br>(2,161)<br>(989)<br>(31,305)<br>(8,269)|**769,439**<br>(4,107)|
|||**(4,107)**<br>(206,339)<br>(22,811)<br>(6,988)<br>(4,635)<br>(4,177)<br>(8,727)<br>(983)<br>(8,538)<br>(4,608)<br>(1,855)<br>(234)<br>(27,301)<br>(8,505)|



27 



DocuSign Envelope ID: DE925FD1-AA8A-4099-A82A-BD6387B3CBFD 

## Sound Church Ltd Notes to the Financial Statement Continued For the year ended 31 August 2022 

|**SUPPORT COSTS**<br>**Management**<br>Depreciation<br>Amortisation<br>Meetings & staff welfare<br>Garage rent & storage<br>Church & office equipment<br>Software, graphics & IT<br>Printing, postage & stationery<br>Telephone<br>Other office expenses (inc cleaning, H&S, website)<br>Utilities<br>Insurance<br>Travel & accomodation<br>Rates<br>Bank charges<br>Minibus<br>Subscriptions<br>Loan interest<br>Building repairs & maintenance<br>Legal fees<br>Marketing<br>**Governance costs**<br>Wages and salaries<br>Accountancy fees<br>Audit fees<br>Legal fees<br>**Total resources expended**<br>**Net Income**|**(384,644)**<br>(81,987)<br>-<br>(13)<br>(1,678)<br>(4,530)<br>(11,590)<br>(1,465)<br>(2,786)<br>(19,850)<br>(21,028)<br>(8,044)<br>(15,488)<br>(12,780)<br>(3,339)<br>-<br>(5,363)<br>(70,742)<br>(27,129)<br>(17,759)<br>(10,722)<br>**(316,293)**<br>(24,790)<br>(10,781)<br>(8,820)<br>(2,508)<br>**(46,899)**|**(305,701)**<br>(80,827)<br>(444)<br>(13)<br>(3,700)<br>(4,625)<br>(5,945)<br>(1,198)<br>(2,912)<br>(27,297)<br>(21,107)<br>(6,742)<br>(1,513)<br>(11,099)<br>(2,636)<br>(330)<br>(4,228)<br>(68,391)<br>(17,224)<br>(12,200)<br>-|
|---|---|---|
|||**(272,431)**<br>(30,778)<br>(6,494)<br>(4,620)<br>(3,045)|
|||**(44,937)**|
||**(747,836)**|**(627,176)**|
||**44,048**|**142,263**|



28