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2022-08-31-accounts

FIELDS CHURCH LTD

Report and Accounts Year ended 31st August 2022

1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk

FIELDS CHURCH LTD

FOR THE YEAR ENDED 31 AUGUST 2022

COMPANY INFORMATION

Directors / trustees

George Abraham (res. 31 Jul 22) Kymmene Barnes (res. 16 Feb 23) Andrew Gaught Richard Smith Mark Brian George Tree (app. 3 Aug 22) Martin Sutor (app. 1 Oct 22) Stephen Richard Haskins (app. 3 Aug 22)

Company Secretary

Daniel Tree (resigned February 2021)

Key staff

Richard Smith (Pastor)

Governing Document

Memorandum and Articles of Association dated 2000, amended 2017

Company Registration Number 04002211 Charity Registration Number 1082134 Registered Office 211 Humber Doucy Lane Ipswich Suffolk IP4 3PE Independent Examiner Lisa Darby FCA Stewardship 1 Lamb's Passage London EC1Y 8AB

Bankers

The Co-Operative Bank plc

Contents Page
Company Information 1
Trustees' Annual Report 2 - 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Accounts 10 - 16
Detailed Statement of Financial Activities with Comparatives 17

Page 1

FIELDS CHURCH LTD

TRUSTEES' ANNUAL REPORT (INCORPORATING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 AUGUST 2022

The trustees, who are the charity's directors for the purposes of company law, have pleasure in submitting the Report and Accounts for the year.

Objects of the charity

The advancement of the Christian faith in Suffolk, East Anglia, and beyond; and to relieve persons who are in conditions of need or hardship wherever it is found, demonstrating Christ's love to all we encounter, as outlined in our Memorandum and Articles of Association.

Structure, Governance and Management

The Spiritual oversight of the church is administered by one full time paid Senior Pastor (Richard Smith) and his wife (Esther Smith).

We have a wider leadership team consisting of 7 other volunteers, who meet monthly (or more regularly if required) to discuss and agree the operational direction and future of the church. This helps promote greater transparency and openness to the wider church and helps avoid any conflicts of interest due to a majority vote decision system being utilised. Roles and responsibilities regarding operational matters are divided within this team.

The policy and operating decisions of the charity rest with Trustees who meet five times (4 regular meetings and 1 budget meeting) a year to monitor the activities and finances of the Company.

New Directors are recruited and appointed by a majority of existing Directors as /when necessary.

Vision

The Vision of the Church is: Heart for God, Heart for People.

Our Mission is: To demonstrate God's love to people, drawing them in and growing them up in their faith. This is applicable to people within and external to Fields Church.

Objectives

Our Vision is split down into five headings which are subsequently split into short and long term.

One of our ongoing short-term goals is to continue to have Community Champions who organize and run local events as well as supporting those within our membership who participate in local events. In addition, our short-term goal of having Space for Growth took a significant step forward with our move to Kesgrave High School and is being reinforced as we settle in.

Page 2

FIELDS CHURCH LTD

TRUSTEES' ANNUAL REPORT (INCORPORATING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 AUGUST 2022

Our Long-term vision is to become a Global Creative Influence; this is being taken forward through advancements in media recording and production. We also aim to provide a full range of Wholeness and Pastoral Care services; training and mentoring programs are currently underway. Finally, to purchase our own premises thus creating a Home for Good.

Review of Activities

In planning the activities, the Directors have had regard to the guidance on public benefit issued by the Charity Commission. We review the activities we undertake, on a regular basis, to see whether they fulfil the objectives set within our Memorandum and Articles of Association.

Life Groups

Life group meetings are held weekly. These are extremely valuable in ensuring that people have opportunity to stay connected and continue to support one another in between the Sunday services. These aim to promote community and foster deeper discussions around varied but relevant topics. During lockdown these were purely held online but now some have reverted to exclusively face-toface, some are blended between face-to-face and online and another is purely held online. These groups have multiplied over the last year to accommodate expanding attendance. Two people have been given specific responsibility for overseeing the Life Groups. A training event was also held for existing and potential new Life Group leaders.

Children’s Church

Programmes are put together to meet children's needs. Children’s church occurs every week during the Sunday morning service. Children are divided into two age specific groups and taught using various games and activities.

Youth

A dedicated team of volunteer youth workers meet with our youth alternate weeks on a Sunday morning, and also host a series of youth life groups and a variety of social events throughout the year.

Alpha and other Courses

We continue to run an Alpha course annually, and also have run a basic course teaching the foundations of the Christian faith, delivered a leadership course for a number of the core leaders and aspiring leaders within the membership and also plan to deliver a teaching course to assist those who teach and present within the church.

Page 3

FIELDS CHURCH LTD

TRUSTEES' ANNUAL REPORT (INCORPORATING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 AUGUST 2022

Baptism

In the summer of 2022, we held an adult baptism again where a number of people were baptised across a wide age range. A private pool was opened for us for the event.

Outreach Activities

An Easter Egg Hunt was arranged within the village for the community. This was well attended, and a good number of adults and their children participated. A community carol service was also arranged along with a winter cafe. Both activities were widely promoted throughout the surrounding community and are helping to promote the church within the local area and raise awareness.

A quarterly worship night has been held. The event is called Wonder. It is promoted widely throughout local and regional churches and attracts attendance from a range of age groups from several other churches. It is primarily aimed at believers but also has an evangelistic focus.

Christmas Collection for FIND

We continued to support a local charity financially, called Families in Need, who have run a food bank in Ipswich for the last 25 years to help those in great need. This year we continued to donate boxes of chocolates, to give as Christmas Gifts and vouchers.

Support

Support is provided on an ongoing basis by the Pastor’s wife for vulnerable people within the church and support is provided where needed for new families and those in financial need. Mothers and fathers within the church are recognised as appropriate on the relevant Sundays. Gifts are distributed to those in attendance as well as gifts being given to people with whom we have relationships outside of usual church meetings.

Daily Prayer

We started a daily prayer meeting on Zoom during lockdown. This has proved very popular. It is an occasion where we can pray for wisdom for those who lead governments and also pray for the vulnerable and marginalised as well as individual needs which can be identified. This will be maintained into the foreseeable future.

Training and equipping

Coaching has been provided to the pastors to support them in their ongoing role. Monthly meetings have been held between the coaches and the pastors. This has been to support them in their current role and to provide advice regarding transitioning into the future. Strategies have been developed to help the church grow through training and equipping. A specific training course has also been delivered to train, inspire and equip the core leaders in the church.

Page 4

FIELDS CHURCH LTD

TRUSTEES' ANNUAL REPORT (INCORPORATING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 AUGUST 2022

General

A great deal of investment has been made in new sound and lighting equipment since moving into the new venue.

Financial Review

The income we received is provided by the generous giving of our church family, which we are extremely grateful for, this is also supplemented by claiming Gift Aid to our charity status.

Our income this year increased to £108,505 (2021: £89,284), with expenditure also increased to £88,842 (2021: £79,213) leaving a surplus of £19,663 (2021: £10,071) which will be reflected in this year’s accounts. The charity held funds of £94,215 at year end (2021: £74,552) of which £1,013 was restricted in purpose (2021: £2,197).

In summary it has been a good year at Field’s Church and we are looking forward to continuing this in the years ahead.

The Trustees meet to set budgets and allocate funds for various activities ahead of the start of our financial year. As well as meeting to set the budgets, we also meet quarterly to further monitor and amend if necessary, our projected income and expenditure, along with discussing any other governance, safeguarding policies etc., issues that may have arisen.

Reserves Policy

The board of Trustees has established a policy whereby the main objective is to hold funds equating to a minimum of 25% of the budgeted unrestricted income for each financial year which would equate to approximately £26,000. This is done to, if necessary, supplement a fluctuating income that is provided by the giving of the church family. At the end of the year the charity held, in unrestricted general fund cash reserves, £72,751 and as such the charity is complying with it’s reserves policy. It is anticipated that the additional cash reserves will be partially utilised during 2023 to support the work of the church.

Risk Statement

The Trustees continually review the risks to which a small charity operating with few employees is exposed. Appropriate procedures are in place to identify, monitor and review these risks on a regular basis.

Page 5

FIELDS CHURCH LTD

TRUSTEES' ANNUAL REPORT

(INCORPORATING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 AUGUST 2022

Trustees Responsibilities

The Trustees are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date, and of it’s incoming resources and application of resources, including income and expenditure, for the financial year. In preparing these financial statements, the trustees are required to:

  1. select suitable accounting policies and apply them consistently;

  2. observe the methods and principles in the Charities SORP;

  3. make judgements and estimates that are reasonable and prudent;

  4. state whether the applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

  5. prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping proper accounting records that 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.

Approval

This report, which has been prepared in accordance with the provisions of the Companies Act 2006 relating to small companies, was approved by the trustees and signed on their behalf by:

Richard Smith

_______ Richard Smith

Date: 3 May 2023

Page 6

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF

FIELDS CHURCH LTD ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2022 on pages 8 to 17 following, which have been prepared on the basis of the accounting policies set out on pages 10 -11.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner’s statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Lisa Darby

Lisa Darby FCA

3 May 2023

For and on behalf of: Stewardship 1 Lamb's Passage London EC1Y 8AB

Page 7

FIELDS CHURCH LTD

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2022

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Charitable activities
4
Investments
5
Total income and endowments
EXPENDITURE ON:
Charitable activities:
6
Total expenditure
Net income/(expenditure)
Transfers between funds
12
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
12		 Unrestricted
Funds
£
104,607
700
3
105,310
84,452
84,452
20,858
(11)
20,847
72,355
93,202		 Restricted
Funds
£
3,195
-
-
3,195
4,390
4,390
(1,195)
11
(1,184)
2,197
1,013		 Total
Funds
2022
£
107,802
700
3
108,505
88,842
88,842
19,663
-
19,663
74,552
94,215		 Total
Funds
2021
£
89,283
-
1
89,284
79,213
79,213
10,071
-
10,071
64,481
74,552

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing operations.

The statement of financial activities also complies with the requirements for an income and expenditure account required by the Companies Act 2006.

The notes on pages 10 - 16 form part of these accounts.

Page 8

FIELDS CHURCH LTD

BALANCE SHEET

FOR THE YEAR ENDED 31 AUGUST 2022

Note
FIXED ASSETS
Tangible assets
8
CURRENT ASSETS
Debtors
9
Cash at bank and in hand
10
CREDITORS:Amounts falling
due within one year
11
Net current assets / (liabilities)
Total assets less current liabilities
Net assets / (liabilities)
TOTAL NET ASSETS
FUND BALANCES
12
Unrestricted Funds
General funds
Designated funds
Restricted Funds		 Unrestricted
Funds
£
6,130
6,130
3,505
85,265
88,770
1,698
87,072
93,202
93,202
93,202
80,688
12,514
93,202
-
93,202		 Restricted
Funds
£
-
-
-
1,013
1,013
-
1,013
1,013
1,013
1,013
-
-
-
1,013
1,013		 Total funds
2022
£
6,130
6,130
3,505
86,278
89,783
1,698
88,085
94,215
94,215
94,215
80,688
12,514
93,202
1,013
94,215		 Total funds
2021
£
5,903
5,903
2,876
67,488
70,364
1,715
68,649
74,552
74,552
74,552
60,050
12,305
72,355
2,197
74,552

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 in accordance with Section 476 of the Companies Act 2006 however, in accordance with Section 145 of the Charities Act 2011, the accounts have been examined by an independent examiner and their report has been included in these financial statements.

The directors (who are the charitable company's trustees for the purposes of charity law) acknowledge their responsibilities for:

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors and were signed on its behalf by:

Richard Smith --------------------------------------Richard Smith

DATE: 3 May 2023

Company number: 04002211

Charity number: 1082134

The notes on pages 10 - 16 form part of these accounts.

Page 9

FIELDS CHURCH LTD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2022

1 Statutory Information

The charity is a charitable company limited by guarantee and is incorporated in the United Kingdom. The company's registered number and registered office address can be found on the Company Information page.

2 Accounting Policies

These financial statements are prepared on a going concern basis, under the historical cost convention.

These financial statements have been prepared in accordance with the "Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102"), with the Companies Act 2006 and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.

The principles adopted in the preparation of the financial statements are set out below.

a) Going concern

The trustees (who are the charitable company's directors for the purposes of company law) have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements. In making this assessment the trustees have considered the impact of Covid-19 and have concluded that its impact on net income will not be material.

b) Income Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.

Income from donations and legacies includes:

Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity's charitable objects. It includes income from church retreats and other events and courses.

c) Expenditure Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.

The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.

Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.

d) Fund accounting General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.

Page 10

FIELDS CHURCH LTD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2022

e) Tangible fixed assets

Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £1,500 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective the following rates of depreciation are charged:

Equipment Over 5 years Furniture Over 5 years

The carrying values of tangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate that the carrying value may not be recoverable.

f) Pension scheme arrangements

The charity does not operate defined contribution pension schemes for its employees as the relevant employees have opted out of such schemes.

g) Taxation

The company is a registered charity; it has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.

h) Financial instruments

The charity's financial assets and financial liabilities all qualify as basic financial instruments, as defined by FRS102. Except for loans, creditors and debtors are measured at their expected settlement value (normally the amount of cash that the charity expects to pay or receive).

i) Exemption from preparing a cashflow statement

The charity has taken advantage of an exemption conferred by the Charities SORP and has not prepared a cash flow statement.

j) Critical accounting estimates and areas of judgement

The trustees do not consider that there any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period.

3
Donations and legacies
Donations of cash and similar
Missions
Income tax recoverable		 Unrestricted
Funds
£
92,639
-
11,968
104,607		 Restricted
Funds
£
-
2,776
419
3,195		 Total
2022
£
92,639
2,776
12,387
107,802		 Total
2021
£
69,416
6,582
13,286
89,283
Ministry & Leadership Training
Youth and children's work
Investment income
Bank interest		 Unrestricted
Funds
£
700
-
700
Unrestricted
Funds
£
3
3		 Restricted
Funds
£
-
-
-
Restricted
Funds
£
-
-		 Total
2022
£
700
-
700
Total
2022
£
3
3		 Total
2021
£
-
-
-
Total
2021
£
1
1

5 Investment income

Page 11

FIELDS CHURCH LTD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2022

6 Charitable expenditure

a
Costs incurred directly on specific activities
Employment costs
Note 7
Staff expenses (including training)
Grants payable
Note 6c
Hire of halls
Equipment & maintenance
Conferences and events
Guest speakers
Children and Youth
Subscriptions & Fees (incl. Software)
Worship
Hospitality
Outreach & evangelism
Books & audio
Other church running costs
b
Costs incurred on support & administration
Governance costs
Cost of independent examination
Bookkeeping & payroll
Office costs
Depreciation of tangible fixed assets
Insurance
Telephone & internet
Bank charges
Total expenditure		 Unrestricted
Funds
£
41,284
4,171
10,488
8,946
3,789
-
-
-
4,820
-
1,701
-
740
1,397
77,335
1,680
1,680
635
952
2,622
911
210
106
5,437
84,452		 Restricted
Funds
£
-
-
4,390
-
-
-
-
-
-
-
-
-
-
-
4,390
-
-
-
-
-
-
-
-
4,390		 Total
2022
£
41,284
4,171
14,878
8,946
3,789
-
-
-
4,820
-
1,701
-
740
1,397
81,726
1,680
1,680
635
952
2,622
911
210
106
5,437
88,842		 Total
2021
£
40,104
2,449
16,676
60
702
355
-
354
4,081
3,850
620
194
576
-
70,023
2,140
2,140
650
2,858
2,306
780
252
205
7,050
79,213
c
Grants payable
Institutions
£
Christian Family Church, Swaziland [Overseas mission]
4,177
FIND (Families in Need) [Relief of poverty]
3,522
CYM (Christian Youth Ministries Ipswich) [UK mission]
2,436
Talitha Koum [UK mission]
1,200
Shalom India Ministries [Overseas mission]
-
Individuals and other grants less than £1,000
228
11,562
The comparatives for the previous year are as follows:
Institutions
£
Christian Family Church, Swaziland [Overseas mission]
3,460
FIND (Families in Need) [Relief of poverty]
2,901
CYM (Christian Youth Ministries Ipswich) [UK mission]
2,718
Talitha Koum [UK mission]
1,185
Shalom India Ministries [Overseas mission]
-
Individuals and other grants less than £1,000
244
10,508
In addition to the fees payable for the preparation and examination of the accounts, the charity paid £685 (2021: £699) t
and consultancy services.		 c
Grants payable
Institutions
£
Christian Family Church, Swaziland [Overseas mission]
4,177
FIND (Families in Need) [Relief of poverty]
3,522
CYM (Christian Youth Ministries Ipswich) [UK mission]
2,436
Talitha Koum [UK mission]
1,200
Shalom India Ministries [Overseas mission]
-
Individuals and other grants less than £1,000
228
11,562
The comparatives for the previous year are as follows:
Institutions
£
Christian Family Church, Swaziland [Overseas mission]
3,460
FIND (Families in Need) [Relief of poverty]
2,901
CYM (Christian Youth Ministries Ipswich) [UK mission]
2,718
Talitha Koum [UK mission]
1,185
Shalom India Ministries [Overseas mission]
-
Individuals and other grants less than £1,000
244
10,508
In addition to the fees payable for the preparation and examination of the accounts, the charity paid £685 (2021: £699) t
and consultancy services.		 Individuals
£
-
-
-
2,521
795
o Stewardship for		 2022
£
4,177
3,522
2,436
1,200
2,521
1,023
payroll bureau
11,562 3,316 14,878
Institutions
£
3,460
2,901
2,718
1,185
-
244
10,508		 Individuals
£
-
-
-
-
5,490
678
6,168		 2021
£
3,460
2,901
2,718
1,185
5,490
923
16,676

Page 12

FIELDS CHURCH LTD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2022

7 Analysis of staff costs, the cost of key management personnel and trustee remuneration and expenses

Gross wages and salaries
Social security		 2022
£
41,284
-
41,284		 2021
£
40,104
-
40,104

The average monthly number of employees during the year was 3 (2021: 3). Most of the charity's activities are carried out by volunteers.

No staff received salaries at a rate of more than £60,000 per annum.

The charity's key management comprise the trustees and the key staff named on the Company Information page. Total employment benefits payable to key management for the year were as follows:

Trustees:
Richard Smith
The following amounts were charged in the previous year:
Trustees:
Richard Smith		 Wages &
salaries
36,292
36,292
Wages &
salaries
34,564
34,564		 Other
employment
benefits
-
-
Other
employment
benefits
-
-		 Employer
pension
contributions
-
-
Employer
pension
contributions
-
-		 2022
£
36,292
36,292
2021
£
34,564
34,564

Richard Smith served as a church leader and received the above payments for serving in that capacity, not for serving as a trustee; these payments are permitted by the charity's governing document.

In addition the charity incurred expenditure totalling £613.40 (2021: £310) to Richard Smith, trustee, in respect of the customary provision of travel costs so that he could better perform his duties.

No trustees received employment benefits in either the current or preceding year.

8
Tangible fixed assets		 Computer
equipment		 Furniture Other
equipment		 Total
2022
£ £ £ £
Cost
At 1 September 2021
Additions
Disposals
At 31 August 2022
Accumulated depreciation
At 1 September 2021
Charge for the year
Eliminated on disposal
At 31 August 2022
Net book value
At 31 August 2022
At 1 September 2021		 9,237
949
-
10,186
6,695
1,217
-
7,912
2,275
2,543		 5,760
-
-
5,760
2,400
1,152
-
3,552
2,208
3,360		 3,335
1,900
-
5,235
3,335
253
-
3,588
1,647
-		 18,332
2,849
-
21,181
12,430
2,622
-
15,052
6,130
5,903

Page 13

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2022

FIELDS CHURCH LTD

----- Start of picture text -----
9 Debtors 2022 2021
£ £
Falling due within one year:
Tax recoverable 1,841 2,475
Prepayments and accrued income 1,664 401
3,505 2,876
10 Cash at Bank and in Hand 2022 2021
£ £
Cash at bank with immediate access 86,278 45,370
Notice deposits (with a term of three months or less) - 22,118
Petty cash - -
86,278 67,488
11 Creditors: liabilities falling due within one year 2022 2021
£ £
Trade creditors 18 35
Accruals 1,680 1,680
1,698 1,715
12 Funds Opening Incoming Outgoing Transfers Gains and Closing
balance resources resources in the year losses balance
2022 2022 2022 2022 2022 2022
£ £ £ £ £ £
Designated Funds
Church Tithe Fund - - (9,693) 10,367 - 674
Pledges 12,306 931 (1,397) - - 11,840
12,306 931 (11,090) 10,367 - 12,514
General Unrestricted Funds 60,049 104,379 (73,362) (10,378) - 80,688
Total Unrestricted Funds 72,355 105,310 (84,452) (11) - 93,202
Restricted Funds
Swaziland Funds 317 1,421 (1,749) 11 - -
FIND 465 1,128 (1,578) - - 15
Suffolk Youth / The Hive 998 - - - - 998
Bal Krishna India fund 418 646 (1,064) - - -
Other restricted funds - - - - - -
2,197 3,195 (4,390) 11 - 1,013
Aggregate of funds 74,552 108,505 (88,842) - - 94,215
----- End of picture text -----

Page 14

FIELDS CHURCH LTD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2022

Analysis of net assets by fund

The assets and liabilities represented by the various funds are as follows:

ssets and liabilities represented by the various funds are as follows:
Fixed assets
Stock and debtors
Cash at bank and in hand
Current liabilities		 General
Designated
funds
funds
£
£
6,130
-
3,505
-
72,751
12,514
(1,698)
-
80,687
12,514
Unrestricted Funds		 Restricted
funds
£
-
-
1,013
-
1,013		 2022
£
6,130
3,505
86,278
(1,698)
94,215
General
funds
£
6,130
3,505
72,751
(1,698)
80,687

Fund Transfers

The General Fund has made transfers into the restricted funds to cover any excess expenditure in the funds

A transfer has been made from the General Fund to the Designated Church Tithe Fund which is reflective of 10% of congregational giving including Gift Aid.

The comparatives for the previous year are as follows:

Designated Funds
Church Tithe Fund
Pledges
General Unrestricted Funds
Total Unrestricted Funds
Restricted Funds
Swaziland Funds
FIND
Suffolk Youth / The Hive
Café
Care Fund
Bal Krishna India fund
Other restricted funds
Aggregate of funds		 Opening
balance
2021
£
199
11,178
11,377
51,876
63,254
52
88
998
-
-
90
-
1,227
64,481		 Incoming
resources
2021
£
7,754
1,128
8,882
72,776
81,658
1,553
1,359
313
16
25
4,361
-
7,626
89,284		 Outgoing
resources
2021
£
(9,368)
-
(9,368)
(62,494)
(71,862)
(1,288)
(981)
(313)
(16)
(153)
(4,033)
(568)
(7,351)
(79,213)		 Transfers
in the year
2021
£
1,413
-
1,413
(2,109)
(696)
-
-
-
-
128
-
568
696
-		 Gains and
losses
2021
£
-
-
-
-
-
-
-
-
-
-
-
-
-		 Closing
balance
2021
£
-
12,306
12,306
60,049
72,355
317
465
998
-
-
418
-
2,197
74,552

Page 15

FIELDS CHURCH LTD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2022

Analysis of net assets by fund (prior year)

The assets and liabilities represented by the various funds were as follows:

sis of net assets by fund (prior year)
ssets and liabilities represented by the various funds were as follows:
Fixed assets
Stock and debtors
Cash at bank and in hand
Current liabilities		 General
Designated
funds
funds
£
£
5,903
-
2,876
-
52,985
12,306
(1,715)
-
60,049
12,306
Unrestricted Funds		 Restricted
funds
£
-
-
2,197
-
2,197		 2021
£
5,903
2,876
67,488
(1,715)
74,552
General
funds
£
5,903
2,876
52,985
(1,715)
60,049

The designated tithe fund is an unrestricted fund designated by the Trustees to allow for future external giving.

The designated pledge fund is an unrestricted fund designated by the Trustees for future development of the Church, in particular areas, for example church growth, the need to expand into a different building, preferably owned

The Swaziland fund is for the support of the work of overseas missionaries in Africa.

The FIND fund is to support a registered charity in Ipswich (Families in Need).

The Suffolk Youth / The Hive fund relates to funds donated for Youth activities.

The café fund relates to gifts given by church members towards the running of the café.

The Care fund relates to gifts given by church members to assist in the wellbeing of other church members, and the community of Kesgrave The Bal Krishan India Fund is for the support of the work of overseas missionaries in India.

13 Transactions with related parties

During the year the charity:

14 Events since the year end

The charity continues to take all necessary steps (in line with government advice) to help contain the outbreak of COVID. The trustees are monitoring income and expenditure and, if it becomes necessary, will take measures to mitigate the impact of COVID-19 on the charity’s free reserves.

15 Members

Each member of the company commits to contribute if the charity is wound up an amount of £10.

Page 16

FIELDS CHURCH LTD

DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES

FOR THE YEAR ENDED 31 AUGUST 2022

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Charitable activities
4
Investments
5
Total income and endowments
EXPENDITURE ON:
Charitable activities:
6
TOTAL EXPENDITURE
Net gains/(losses) on investments
Net income/(expenditure)
Transfers between funds
12
Other recognised gains/(losses):
Gains/(losses) on revaluation of fixed assets
Other gains/(losses)
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
12
Actuarial gains/(losses) on defined
benefit pension schemes		 2022
£
Unrestricted Fu		 2021
£
nds - General		 2022
£
Unrestricted Fu		 2021
£
nds - Designated		 2022
£
3,195
-
-
3,195
4,390
4,390
(1,195)
11
(1,184)
(1,184)
2,197
1,013
Restricte		 2021
£
7,626
-
-
7,626
7,351
7,351
275
695
970
970
1,227
2,197
d Funds		 Total
Funds
2022
£
107,802
700
3
108,505
88,842
88,842
-
19,663
-
19,663
-
-
-
19,663
74,552
94,215		 Total
Funds
2021
£
89,283
-
1
89,284
79,213
79,213
-
10,071
-
10,071
-
-
-
10,071
64,481
74,552
103,676
700
3
104,379		 72,775
-
1
72,776		 931
931		 8,882
8,882
73,362
73,362		 62,494
62,494		 11,090
11,090		 9,368
9,368
31,017 10,282 (10,159) (486)
(10,378)
20,639		 (2,109)
8,172		 10,367
208		 1,413
928
20,639 8,173 208 928
60,050
80,689		 51,878
60,050		 12,305
12,513		 11,377
12,305

Differences of £1 may appear due to rounding

Page 17