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2022-09-30-accounts

CABIN LANE CHURCH

FINANCIAL STATEMENTS

FOR

30 SEPTEMBER 2022

Company Number 3659182 Charity Number 1073517

FINANSURE LTD

2 Sheppard Street, Brymbo, Wrexham, LL11 5FF

CABIN LANE CHURCH

FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 2022

CONTENTS PAGES
Charity information 1
Trustees’ annual report 2 to 6
Independent examiner’s report 7
Statement of financial activities 8
Balance sheet 9
Notes to the financial statements 10 to 16

Page 1

CABIN LANE CHURCH

CHARITY INFORMATION

Company number 3659182
Charity number 1073517
Directors Mr A J Thompson
Mrs G Tipton
Mr B J Hainsworth
Mr S A Worthy (Resigned April 2022)
Mrs J Worthy (Resigned April 2022)
Registered office The Whole Life Christian Centre
Cabin Lane
Oswestry
Shropshire
SY11 2LQ
Independent Examiner Mr L HowsonMAAT
Accountants Finansure Limited
2 Sheppard Street
Brymbo
Wrexham
LL11 5FF
Bankers CAF Bank Ltd
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ

Page 2

CABIN LANE CHURCH

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 30 SEPTEMBER 2022

The directors/trustees present their Annual Report, along with the examined financial statements, for the year 1[st] October 2021 to 30[th] September 2022.

Objectives of the charity

These are set out fully in the Memorandum of Association of the company, but in brief are to:

To fulfil these objectives Cabin Lane Church carries out activities, both directly and indirectly through other partner organisations, locally in the county of Shropshire and in the UK or the world as the trustees may from time to time see fit. Details of resources expended on these activities are given in the Statement of Financial Activities. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (effective January 2019) in preparing this report.

Our ability to fulfil these objectives is related to the resources that we have available. These include participants in our activities, finances, equipment and property. Our strategies for fulfilling the objectives are set out in our vision statement.

Vision

The main point of our vision is to enable people to find fullness of life in Christ, and to do that by ‘building community, living with passion, and making an impact – for Jesus’ as we:

This has proved to be another challenging year in dealing with the reopening after ongoing Covid 19 pandemic. Jan and Steve Worthy continued to Pastor the church until April 2022 having given notice at the AGM in January that they felt it was time to move back into their international ministry. We thank them sincerely for all their leadership over the past 7and a half years. During this year three Trustees have stepped down. The Eldership, meet on regular bases to plan and deal with pressing matters, Finance Team, and full members meeting have been held during this financial year.

Advancing the Christian faith

Having our own building for the last twelve years has enabled the trustees to develop the churches role in the community, as a place of worship, and a community hub for other activities that reflect our Christian ethos. We are a community lead church in the Cabin Lane area of Eastern Oswestry. The building is well regarded and has remained open to all. The Sunday services continued throughout this year, with an average of forty adults each week attending. Our services were open, and enabled us to put our faith into practice through music, prayer, scripture, information, and

Page 3

CABIN LANE CHURCH

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 30 SEPTEMBER 2022

communion. We also meet together each month for a specific time of prayer and reflection. The church is affiliated member of the Baptist Association of HEBA, (Heart of England Baptist Association) Our Fellowship Groups had met, with some meeting face to face and others via zoom on line. Our monthly news and information brief ‘The Herald’ keep the members and any one visiting the church informed and encouraged. Cabin Land Church is also part of the 28 other Church Together group in the Oswestry area and support Christian events in the area. We have followed the advancement of the Christian faith through the churches financial support of The Wycliffe Bible Translators over many years in their work in publishing Christian material, for all people around the world impacting many millions. This has also been extended through our connection to Sat 7 in their broadcasting ministry.

Supporting those in need

The Café Life was back to its usual operating times and has seen growth in turnover, and footfall over the year, which has been encouraging. It remains relevant to the community, particularly through the mid-week meals for the over 65 and supporting mums and care groups. Saturday morning the café support the Park Runners. The cafe offers a warm hub, meeting place, relaxation, and quiet. We also secured a further Government grants for café from Shropshire Council in June totalling £2667 in supporting and developing this ministry. Additional garden benches, and a cover for added protection against the ‘summer weather was purchased. ‘Coffee and Chaos restarted in September ’21 for mothers, cares and young children. Our Pastoral care team supported members who are aged or sick and the community where we could, through meals cards, and visits. The building has been used by Moo Music and Baby Sensory, independent providers, by local council departments for family support groups, for birthday parties and other individual and community events at different periods during the financial year. These fulfilled many of the local needs. All managed by the church on a volunteer basis. The local Foodbank has been supported by gifts of food and money through different events. The Camera club met on the last Thursday of most months during this period. Our Cameo group restarted in October ’21 with reduced numbers but the same desire to offer a warm place for those lonely or who enjoy time together. The decision to reduce our Mission giving by 51% from December ’21 has been unchanged. We are looking to increase this as funds become available. Internationally the church financial supports and receives feedback from Mission Aviation Fellowship, International China Concern, and Hope Health Action. While at home Christians Against Poverty.

Advance education

Children’s work in the form of a Sunday Club started in the new year for 5 – 11 year olds and we have seen a steady growth in numbers. While our financial support for the Schools Christian Worker Project continued this was limited through the lockdown period. They re-established links within the Oswestry area in the educational environment and generating new project for junior and senior schools. We also financially support education via sponsorship in India.

Promote other charitable purposes beneficial to the community

The church garden continues to attract families when able, providing a safe and fun area particularly for the local after school children and families. We have introduced a walking group called Beer and Blisters which has been encouraging in organising local walks for the church and others as both fitness and relationship building time. There have been several other events held to encourage the community into the church building (wreath making, quiz nights, Christmas celebration). The jubilee party was held in the garden for the community when over 200 people attended. A tree was planted to commemorate the event. There is an interest in pursuing Eco

Page 4

CABIN LANE CHURCH

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 30 SEPTEMBER 2022

Church recognition with A Rocha UK, which will develop a ‘greener footprint’ and lesser environmental impact in the area.

Membership

As with so many other churches the membership has reduced due changes in family situations and stood at 40. The general congregation numbers have also reduced slightly.

The roof problem will be resolved at reasonable expense in October 2022, but more work will be required in the coming years.

The Land purchase progress has been slow and little progress has been made with Shropshire Council, in resolving the problem of a covenant on the land that would restrict its use, and the adoption of the existing unplanned path. Additional issues have come to light re the placement of the bus stop and the ownership of the strip of land along the church border fence. We still believe that the additional land would be strategically valuable, but not without resolving these issues. Funds remain ring-fenced to cover this project.

The Car Parking problem remains but due to lockdown and managing the use of the building differently, it has had a lesser effect but still requires long-term resolution.

Finance overview

The total turnover was £127,352 (covering the Café £57,056, Room Hire £9,795, restricted giving £7,624 and general giving £52,877) with total expenditure of £113,505 - wages, food, ministry costs, mortgage, repairs, and utilities being the main contributors. Financial pressures and administration situations meant that there would be a bigger pull on our reserves and resources over this year and proved to be very challenging up to April ‘22. Following the change in our leadership we have been able to make some saving and improve our reserve balance by £8,974, but are conscious of the higher inflation predictions for the coming year. We are conscious we need to work towards our Charity Commission reasonability to have sufficient reserves to cover three months key expenses which is in the region of £25,000. The generous support of the members has enabled us to set aside £5,800 to cover proposed improvements to our heating system. The mortgage change projected into 2022/23 could add substantial amounts to our monthly payments. We have also had to consider the increases in energy proposed in 2022 and have negotiated an extension to our Electricity rate but with a new supplier 1st October 2022 to September 2024. The volatility in the gas market has meant we have to build in a substantial increase in our rate from April 2023 which could dictate how and when we use the church facilities.

Safeguarding

All three remaining Trustees have been trained to level 2 and level 3 is being planned. The leadership post (Designated Person and DBS Verifier) have all been filled following some changes during the year. DBS checks have been done on all relevant people. Due to delays in setting up courses there will be opportunities for all the people within the church to have training in October 2022 to level 2.There were no safeguarding issues during this reporting period.

This year has been challenging for all of Cabin Lane Church but through our determined effort to keep the members, congregation, and community together through our Christion beliefs and out working, we trust that we will be stronger at the end and looking to a positive future in these difficult circumstances.

Page 5

CABIN LANE CHURCH

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 30 SEPTEMBER 2022

Structure, governance and management

Cabin Lane Church is a charitable company limited by guarantee, incorporated on 29[th] October 1998 and registered on 26[th] January 1999. The company was established under a Memorandum of Association, which established the objects and powers of the charitable company, and it is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £10 to any deficit.

Appointment of trustees

The elders of the church are appointed at an Annual General Meeting by election from within the membership of the church and are subject to re-election by the members every three years. Upon election as elders of the church, they also become trustees of the charity and directors of the company. In accordance with charitable and company law, they must be at least 18 years old and they must be eligible (not having been disqualified as a trustee and having declared themselves in writing as eligible). They can also be elected mid-year to fill a vacancy under article 34 of the Articles of Association, in which case they must be re-elected at the next AGM.

In view of the charity’s work with children and vulnerable people, all trustees are required to have a DBS check. They must also comply with the biblical requirements of a church elder: in brief, they must be respectable, honest, self-controlled, gentle and upright.

Induction and training of trustees

Through their membership of the church, newly appointed trustees will already be familiar with its charitable work, and they are provided with suitable material to give a background to the formalities of the company. The trustees are kept up to date by information from the ‘third sector’ press and by information and guidance from the Charity Commission and are provided with regular updates from various ministry leaders.

The trustees are aware that they must declare any conflicts of interest, and that they must avoid undertaking activities that might place the charity’s endowment, funds, grants or reputation at undue risk and use charitable funds and assets reasonably and only in furtherance of the charity’s objects.

Risk management

The trustees consider every proposed new activity, including consideration of the risks involved. This is followed up with the relevant activity/ministry leader.

The trustees are in the process of improving risk management, including reviewing the potential risks associated with existing activities.

Reserves policy

The trustees do not allocate any amount to free reserves for the church to hold in its general fund. The trustees set a surplus general budget. It is intended, as funds become available, to build up a reserve fund.

Page 6

CABIN LANE CHURCH

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 30 SEPTEMBER 2022

Declarations of responsibility

Company and charity law require the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of Cabin Lane Church and the results for the period. In preparing financial statements the trustees have:

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

The trustees confirm that there are no serious incidents or other matters which should have been brought to the attention of the Charity Commission and have not already been.

The trustees confirm they have all declared themselves to be eligible and to have no conflicts of interest.

The trustees confirm that they have complied with the duty in section 4 of the Charities Act 2006 to have due regard to the Charity Commission’s general guidance on public benefit when reviewing the charitable objectives and aims of Cabin Lane Church, as well as in planning future activities.

We as trustees and directors certify that:

2 5 t h A p r i l This report was approved by the directors on …………………………… 2023 and is signed on their behalf by:

………………………………

Mr A J Thompson - Trustee

Page 7

CABIN LANE CHURCH

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES

I report on the accounts of the charity for the year ended 30 September 2022, which are set out on pages 8 to 16.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner’s report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

  1. which gives me reasonable cause to believe that in any material respect the requirements:

  2. to keep accounting records in accordance with section 386 of the Companies Act 2006; and

  3. • to prepare accounts which accord with the accounting records and comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities

have not been met; or

  1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

4 t h M a y ……………………………………… Dated: …………………………… 2023 L M Howson MAAT

Finansure Limited, 2 Sheppard Street, Brymbo, Wrexham, LL11 5FF

Page 8

CABIN LANE CHURCH

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT)

YEAR ENDED 30 SEPTEMBER 2022

Unrestricted Restricted Totals Totals
Funds Funds 2022 2021
Note £ £ £ £
INCOMING RESOURCES
Donations and grants 2 51,054 7,624 58,678 82,871
Incoming resources from
charitable activities 3 68,596 - 68,596 27,090
Investment income 78 - 78 4
─── ─── ─── ───
TOTAL INCOMING RESOURCES 119,728 7,624 127,352 109,965
─── ─── ─── ───
RESOURCES EXPENDED
Charitable activities 4 109,212 4,293 113,505 115,737
─── ─── ─── ───
TOTAL RESOURCES EXPENDED 109,212 4,293 113,505 115,737
─── ─── ─── ───
NET INCOME/(EXPENDITURE)
FOR THE YEAR 10,516 3,331 13,847 (5,772)
Transfers between funds - - - -
─── ─── ─── ───
Net movement in funds 10,516 3,331 13,847 (5,772)
Balances brought forward 185,309 25,000 210,309 216,081
─── ─── ─── ───
Balances carried forward 195,825 28,331 224,156 210,309
─── ─── ─── ───

The charity has no recognised gains or losses other than the results for the year as set out above.

All of the activities of the charity are classed as continuing.

The notes on pages 10 to 16 form part of these financial statements.

Page 9

CABIN LANE CHURCH

BALANCE SHEET

30 SEPTEMBER 2022

Note 2022 2021
£ £
FIXED ASSETS
Tangible assets 10 369,844 377,652
──── ────
CURRENT ASSETS
Debtors 11 2,844 2,571
Cash at bank and in hand 60,417 51,308
──── ────
63,261 53,879
CREDITORS:amounts falling
due within one year 12 (11,679) (14,843)
──── ────
NET CURRENT ASSETS 51,582 39,036
──── ────
TOTAL ASSETS LESS
CURRENT LIABILITIES 421,426 416,688
CREDITORS:amounts falling
due after more than one year 13 (197,270) (206,379)
──── ────
NET ASSETS 14 224,156 210,309
──── ────
FUNDS
Unrestricted funds 15 195,825 185,309
Restricted funds 15 28,331 25,000
──── ────
TOTAL FUNDS 224,156 210,309
──── ────

The trustees are satisfied that the charity is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the accounts for the year by virtue of section 477, and that no member or members have requested an audit pursuant to section 476 of the Act.

The trustees acknowledge their responsibility for:

These financial statements have been prepared in accordance with the special provisions for companies subject to the small companies’ regime, and with the Financial Reporting Standard 102.

These financial statements were approved by the trustees on ………………………. 2023, and are signed on their behalf 2 5 t h A p r i l by:

……………………………

Mr A J Thompson - Trustee

The notes on pages 10 to 16 form part of these financial statements.

Page 10

CABIN LANE CHURCH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 2022

1. ACCOUNTING POLICIES

Accounting convention

The accounts have been prepared under the historical cost convention and in accordance with the Charities Act and Companies Act, the Statement of Recommended Practice (SORP), “Accounting and Reporting by Charities (effective January 2019)”, and the Financial Reporting Standard 102 (FRS 102).

Fund accounting

Unrestricted funds are general funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the Church and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Church for particular purposes.

The cost of raising and administering such funds are charged against the specific fund. Investment income and gains are allocated to the appropriate fund.

Incoming resources

Grants and donations are recognised when receivable, unless specified as covering a specific period, in which case they are apportioned accordingly. Gift Aid recoverable is credited in the same period as the donation to which it relates. Where donations or grants are received for a specific project or purpose, the income is accounted for separately within a restricted fund.

Resources expended

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.

Costs of charitable activities are those incurred in furthering the objectives of the Church which are laid out on page 2.

Governance costs are those incurred in connection with administration of the Church and compliance with constitutional and statutory requirements.

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation except for freehold property which is stated at valuation less depreciation. Assets are capitalised if they have a useful life of more than one year and a cost value greater than £100.

Buildings are included at market valuation and are revalued every 5 years.

Depreciation is provided at the following annual rates in order to write off the value of each asset over its expected useful life:

2% on valuation

20% on written down value

Page 11

CABIN LANE CHURCH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 2022

2. DONATIONS AND GRANTS RECEIVED

DONATIONS AND GRANTS RECEIVED
2022 2021
£ £
General donations received 40,683 43,091
Restricted donations received 6,753 3,361
Gift Aid tax reclaimed 8,348 8,401
JRS grants received 227 19,518
Shropshire council grants received (café) 2,667 8,500
─── ───
58,678 82,871
─── ───

3. INCOME FROM CHARITABLE ACTIVITIES

2022 2021
£ £
Café income 57,056 20,857
Room hire 9,795 6,232
Other income 1,745 1
─── ───
68,596 27,090
─── ───

4. COSTS OF ACTIVITIES IN FURTHERANCE OF THE CHARITY’S OBJECTS

Activity or project Activities
undertaken
directly		 Grant
funding of
activities
(note 5)		 Support
costs
(note 6)		 Employee
costs
(note 7)		 Total
2022		 Total
2021
£ £ £ £ £ £
Building running costs - - 28,652 1,440 30,092 43,051
Café operations 20,403 - 5,297 37,541 63,241 40,675
Church and group activities 305 - 1,866 - 2,171 1,614
Ministry fees and expenses 12,934 - - - 12,934 23,500
Missions and giving 295 4,772 - - 5,067 6,897
TOTAL **33,937 ** 4,772 35,815 **38,981 ** 113,505 115,737

Page 12

CABIN LANE CHURCH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 2022

5. ANALYSIS OF GRANTS PAYABLE

2022 2021
£ £
To charities (UK)
- Missions 4,305 6,640
- Other 204 -
To individuals (UK)
- Missions 100 -
- Other 163 257
─── ───
4,772 6,897
─── ───

6. ANALYSIS OF SUPPORT COSTS

Building
running
costs		 Café
operations		 Church &
group
activities		 Total
2022		 Total
2021
£ £ £ £ £
Advertising - - 225 225 61
Bank charges 180 163 18 361 358
Depreciation 9,362 - - 9,362 9,676
Expensed equipment - - 139 139 -
Hospitality - - 91 91 12
Insurance 885 796 88 1,769 1,591
Interest payable 7,069 - - 7,069 5,887
Light & heat 1,514 1,363 151 3,028 4,743
Office expenses 493 444 49 986 922
Repairs & maintenance 4,258 - - 4,258 8,096
Garden maintenance 256 - - 256 764
Subscriptions & licences - - 824 824 1,102
Telephone 640 576 64 1,280 340
Water & rates 1,478 1,331 148 2,957 1,533
Independent examiner’s fees
-Current year 412 372 41 825 822
-Previous year 13 11 1 25 -
Legal fees 1,825 - - 1,825 250
Other expenses 267 241 27 535 -
TOTAL **28,652 ** **5,297 ** 1,866 35,815 **36,157 **

Support costs are allocated directly per department where appropriate; all other support costs are allocated 50% building, 45% café and 5% church and group activities as a best proportional estimate per Charity Commission guidelines.

Page 13

CABIN LANE CHURCH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 2022

7. EMPLOYMENT COSTS

2022 2021
£ £
Café staff gross wages 37,541 29,490
Building staff gross wages 1,440 11,957
Employer’s NI contributions - 824
Employer’s pension contributions - 320
─── ───
38,981 42,591
─── ───

No employee received emoluments, as defined for taxation purposes, amounting to over £60,000 in the tax year.

The total number of employees during the year was 12 (2021 – 13). The average number of employees, calculated on a full-time equivalent basis, was two (2021 – two).

8. TRANSACTIONS WITH TRUSTEES AND RELATED PARTIES

During the year £12,600 (2021 - £23,200) was paid to a cooperating UK charity, ‘Steve and Jan Worthy Charitable Trust’ (registered charity number 1094002), which has one trustee in common. This was payment for ministry services and is included in ‘Ministry fees & expenses’ in note 4.

The total aggregate donations made by the trustees to the charity during the year was £1,440 (2021 - £2,385).

9. MEMBERS’ LIABILITY

The charity is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation.

Page 14

CABIN LANE CHURCH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 2022

10. FIXED ASSETS

Cost or Valuation
At 1 October 2021
Additions
Disposals
Revaluations
At 30 September 2022
Depreciation
At 1 October 2021
Charge for year
Disposals
Revaluations
At 30 September 2022
Net book value
At 30 September 2022
At 30 September 2021		 Land and
buildings
£
385,000
-
-
-
385,000
15,400
7,700
-
-
23,100
361,900
369,600		 Equipment
£
82,074
1,554
-
-
83,628
74,022
1,662
-
-
75,684
7,944
8,052		 Total
£
467,074
1,554
-
-
468,628
89,422
9,362
-
-
98,784
369,844
377,652

The Whole Life Centre building was revalued on 17[th] October 2019 by Morris, Marshall & Pool at a market value of £385,000. Although the trustees feel the building is worth more than this, and its re-build cost would be substantially higher, they have adopted the market value in the accounts which would better reflect its saleable value. The building will be revalued every 5 years.

11. DEBTORS

2022 2021 £ £ Income tax recoverable 1,296 689 Prepayments 327 461 Other debtors 1,221 1,421 ─── ─── 2,844 2,571 ─── ───

Page 15

CABIN LANE CHURCH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 2022

12. CREDITORS: amounts falling due within one year

2022 2021
£ £
Trade creditors 507 3,455
Accruals 1,172 1,388
Bank loan < 1 year 10,000 10,000
─── ───
11,679 14,843
─── ───

13. CREDITORS: Amounts falling due after more than one year

2022 2021
£ £
Bank loan
- 1-2 years 10,000 10,000
- 2-5 years 30,000 30,000
- more than 5 years 157,270 166,379
─── ───
197,270 206,379
─── ───

The bank loan is secured by a mortgage debenture over the freehold property. The property is included in fixed assets on note 10 and has net book value of £361,900. The mortgage represents 54% of the market value of the property.

14. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Funds at 30 September 2022
represented by:
Tangible fixed assets
Current assets
Current liabilities
Long-term liabilities		 Restricted
funds
£

-
28,331
-
-
28,331		 Unrestricted
funds
£
369,844
34,930
(11,679)
(197,270)
195,825		 Total
£
369,844
63,261
(11,679)
(197,270)
224,156

Page 16

CABIN LANE CHURCH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 2022

15. STATEMENT OF FUNDS

At 1 October At 30 September
2021 Income Expenditure Transfers 2022
£ £ £ £ £
Unrestricted funds:
General reserve 185,309 119,728 (109,212) - 195,825
──── ──── ──── ──── ────
Restricted funds:
Land fund 25,000 - (2,375) - 22,625
Community garden fund - 142 (142) - -
Heating/maintenance fund
-		 5,355 - - 5,355
Missions funds - 164 (164) - -
Toilets fund - 750 (750) - -
Worship laptop - 351 - - 351
Specified donations - 862 (862) - -
──── ──── ──── ──── ────
Total restricted funds 25,000 7,624 (4,293) - 28,331
──── ──── ──── ──── ────
Total funds 210,309 127,352 (113,505) - 224,156
──── ──── ──── ──── ────

The land fund represents a one-off donation received towards purchasing land adjacent to the Whole Life Centre. Costs in the year represent legal fees paid.

The community garden fund represents donations given towards improving and maintaining the gardens in the vicinity of the building.

The heating/maintenance fund represents donations given towards the costs of heating and maintaining the Whole Life Centre.

The missions fund represents donations given to further missions’ activities and to support missionaries.

The toilets fund represents donations towards the refurb costs of the toilets.

Worship laptop represents donations towards buying a new laptop for worship department.

Specified donations represents donations given towards other specified beneficiaries or projects.