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2023-03-31-accounts

BRIDGE CHURCH HAYLING ISLAND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

CHARITY REGISTRATION No: 1085253

Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF

BRIDGE CHURCH HAYLING ISLAND

CONTENTS

Page 3 Legal and Administrative Information Page 4 Independent Examiners Report to the Trustees Pages 5 to 6 Trustees Report Page 7 Statement of Financial Activities Page 8 Balance Sheet Pages 9 to 16 Notes to the Financial Statements

2

BRIDGE CHURCH HAYLING ISLAND

LEGAL AND ADMINISTRATIVE INFORMATION

CHARITY NUMBER

1085253

START OF FINANCIAL YEAR 1 April 2022 END OF FINANCIAL YEAR 31 March 2023 CHURCH LEADER Mrs Mary Dennison

TRUSTEES AT 31 MARCH 2023 Mr Paul Dennison Mrs Sandra Harmer Mr Barry King Mr Keith Peake

The existing trustees appoint any new trustees following the provisions laid out in the Charity's governing instrument.

GOVERNING INSTRUMENT

Declaration of Trust dated 18th December 2000

OBJECTS

ADDRESS

67 Beach Road Hayling Island Hampshire PO11 0JD

PRIMARY BANKERS

Barclays Bank 54 Lombard Street London EC3P 3AH

INDEPENDENT EXAMINER

Z Derbak Independent Examiners Limited 2 Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF

3

INDEPENDENT EXAMINERS REPORT TO THE

TRUSTEES OF THE BRIDGE CHURCH HAYLING ISLAND

Report to the members of The Bridge Church Hayling Island on the accounts for the year ended 31 March 2023 set out on pages 7 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(2) 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 statement

My examination was carried out in accordance with General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the organisation 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 the 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 the course of my examination, no matter has come to my attention:

  1. which gives me reasonable cause to believe that in, any material respect, the trustees have not met the requirements to ensure that:

  2. proper accounting records are kept (in accordance with section 130 of the Charities Act); and

  3. accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Act; or

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

Zita Derbak MAAT AATQB Independent Examiners Ltd 2 Broadbridge Business Centre Sign: Delling Lane Bosham West Sussex Dated: 25.01.2024 PO18 8NF

4

BRIDGE CHURCH HAYLING ISLAND

TRUSTEES REPORT

FOR THE YEAR ENDED 31 MARCH 2023

The principal activities of the church continue to be:

• To advance the Christian faith in this country and overseas; by following and proclaiming the principles and truths of the Bible; by arranging public and other meetings for worship, praise, evangelism, teaching, study and encouragement and prayer; by supporting other churches on Hayling Island and in South-East Hampshire, and nationally where appropriate, sharing these objectives.

We have provided financial support to an area around Bhadrachalam, Andhra Pradesh, India to support orphans and the local community as shown in the annual accounts.

(Part of the financial support to the Indian orphanage, see point 2 above, also covers some of their education.)

Trustees and other Church Officers

Trustees Mr Paul Dennison Mrs Sandra Harmer Mr Barry King Mr Keith Peake

Church Leader Mrs Mary Dennison

Review of Annual Activities

We continue with community outreach programmes, as appropriate, to support Hayling Island and other areas in close proximity to the Island.

Within our activities we incorporate Computer Courses, a Pre-School Group, and The Bridge Advice Centre which provides debt and benefits advice.

The work of the Bridge Advice Centre is affiliated to Frontline Debt Advice (UK), Charity No 1134908.

The Bridge Café offers coffee and tea and other refreshments in a friendly atmosphere where members of the public can meet with various representatives of community groups.

All our activities are undertaken within the national guidelines in place at that time.

We support other churches on the island on an informal basis. Our Church Leaders continue to liaise with a number of churches, both locally and further afield, and also the local schools.

We continue to provide direct support to India for Orphans in the hostel at Rajivnagar.

We continue to operate the Food Bank and Crisis Fund with the support of local churches, and individual donations. We manage this working with the other churches, local agencies and government organisations, and liaising with The Bridge Advice Centre. The objective is to give ‘a hand up’ and not just provide ‘a hand out’. We also assist with some homeless situations and the needs of people trying to return to work. We have provided some financial help where considered appropriate.

Contribution made by volunteers

All our activities are operating with the help of volunteers and are as listed below:-

5

BRIDGE CHIIRCH HAYLING ISLAND TRUSTEES REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2023 There wert 51>me SIOn￿cant changes to rnember5hip in 2021-2022. A number of new members, who Jolned between 2019 and 2021. declded to leave. Whilst that inyacted our incoN. the costs aS50Ciated ¥￿th the runnlng ol The B￿dge Churc were readily covered by tithing and tsther Income. We had new members fvn in 2022-2023. We are fortunate that the leader is flexiNe on salaryi and has always Maln￿￿) that the securfty of the Bridge Church Is paramount. On this basis we rerrwin In a gotxl firh8rKial F￿SitiOn. Following the m4Jor Invement progrnmme. we have been in a 9ood to maintaln a ￿4)d level of reserves as in prevlous years. The Charltles Art 2011 and Cha￿ty (Repcrts aftd Accounts) Regulatlons req￿re the tnjstees to prepare flr5anclal statements fer each financial year which give a true arKI lair view of the stste of afviT5 of the dwrlty and of the surplus of the charlty ror that perSod. In prepartng finandal statements the trustee5 are reqWred to: • Select sultable accountyng PL4lcies ants apwy them conslstentjv • Make Judgements and egtlmates that are ￿sOnable and prudent Prepare flnanclal ststements on the g￿r¥ tr)n￿m bo$1$ ￿￿e$S ￿ Ls Inapprcyrfate to presume thot the chorfty wlll contlnL In exlstence. The trustees are re5F•￿￿b1e for keepiThJ proper aC0￿ntIn1 rtU)Fds. hlth dlsdose wlth reasonalAe a(oJrncy at any Ume the flnandal posltlon of the charlty. They are also re5w)nsiWe fvr safeguèrdlng the assets of the tharfjty and hence for tjklng reasonable steps for the preventlon and detects￿ L* fro￿1 ènd rther InWUla￿￿e$. The Trustees met formally four tlmes durlng the 2022-2023 Fsnanoal Year. The trustee5 conVThJed to hold numetous Inftrnial meetlng$, not )11 docurnented, to add￿$ appYWate day-ttrday Issues. The trustees con$lder The Brtdge Church Is In a sound p05111on as we go lO￿ar¢ Into 2023-20Z4. Slgned on behalf ol the truste￿ by Barry Kh Slgnature: Oated: 24 C>1. 2024

BRIDGE CHURCH HAYLING ISLAND

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

INCOME AND ENDOWMENTS
Notes
FROM:
Donations and Legacies
2a, 8
Investments
2b
Charitable Activities
2c
TOTAL INCOME
EXPENDITURE ON:
Charitable Activities
3a
TOTAL
NET INCOME/(EXPENDITURE)
Transfers between funds
8,9
NET MOVEMENT IN FUNDS
Reconciliation of funds:
Total Funds Brought Forward
Opening Balance Adjustments
8,9
Total Funds Carried Forward		 Unrestricted
Designated
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
2022/23
2021/22
£
£
£
£
£
32,537
0
16,202
48,739
42,336
33
0
0
33
3
1,194
0
0
1,194
3,099
33,764
0
16,202
49,966
45,438
32,736
0
4,979
37,715
42,138
32,736
0
4,979
37,715
42,138
1,028
0
11,223
12,251
3,300
19,875
-23,754
3,879
0
0
20,903
-23,754
15,102
12,251
3,300
259,766
24,678
14,001
298,446
295,146
3594
-924
-2670
0
0
284,263
0
26,433
310,696
298,446

Movements on all reserves and all recognised gains and losses are shown above. All of the charity's operations are classed as continuing.

The notes on pages 9 to 16 form part of these financial statements.

7

BRIDGE CHURCH HAYL1146 ISIAIID BALANCE SHEEr AS AT 31 MARCH 2023 Unrestri¢xed DeS￿nated Restricted 3J-Ilwr-23 31-M•t•22 FuThts Fund% fvJThJs Total yed Assets." Tanglble assets 406.867 406.867 387.127 Current Assets: Cash at Bank and In Hand Debtors and Prepayments 26.433 28.273 44,226 135 Total Curr•nt Ao•ets 273 Credltorj: arnounts hlllng due within one year 900 900 N•t CUrt￿t A•••ts: 26,433 27,373 43,461 TOTAL ASSETS LESS CURRt14T LIABILITIES 434.240 430.S88 Cr•dltor•: Arnounts due In nwe than one vear 7a 123,544 123,544 132,142 NET ASSETS 263 2• 33 310 696 Fund• of th• th•rlty General Fund5 Restrlcted Funds Oe51gnated Funds 284,263 284.263 26.433 259.766 14,001 24,678 26.433 310 696 24 . 01. 2oz4- Approved by the Trustees on ............................. 51gned on theSr behalf by Barry King* Tntst

BRIDGE CHURCH HAYLING ISLAND

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Basis of Preparation:

The financial statements of the charity have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) - (Charities SORP (FRS102)) and applicable accounting standards.

The Bridge Church Hayling Island meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.

Preparation of accounts on a going concern basis

Preparation of the accounts is on a going concern basis. The Trustees are of the view that the level of reserves will support the charity going forward.

The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.

1. ACCOUNTING POLICIES

Donations are accounted for gross when received.

b) Legacies:

Legacies are accounted for when their receipt is certain and can be properly quantified.

Investment income is included in the accounts in the year it is receivable.

The church does not make formal appeals for funds, and expenditure on these items is therefore not material.

The church makes grants to other organisations whose charitable objects complement its work. They are accounted for in the year in which they are paid.

Fixed assets are measured at cost.

h) Depreciation:

Depreciation has not been charged on the land as it is assumed to have an unlimited useful life.

Depreciation has not been charged on the Church or Manse premises, because in the opinion of the Trustees, the residual value of the asset is not less than the original cost.

Depreciation on other fixed assets are calculated on a straight line basis over their expected useful life, at the following rates:

rates:
Computer Equipment 25%
Music Equipment 25%
Projection Equipment 25%
Fixtures and Fittings 25%

9

BRIDGE CHURCH HAYLING ISLAND

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2023

1. ACCOUNTING POLICIES (continued)

i) Support Costs

Support costs not attributable to a single activity are apportioned between the significant activities being supported, on a basis consistent with the use of the resources.

2. INCOME FROM:
a) Donations and Legacies
Tithes & Gifts
Gift Aid Donations
Grants
Tax Refund
b) Investments
Bank Interest
c) Charitable Activities
Cafe Sales
Sundry Income		 Unrestricted
Designated
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
2022/23
2021/22
£
£
£
£
£
6,079
0
3,727
9,806
11,786
20,105
0
12,475
32,580
21,403
0
0
0
0
573
6,353
0
0
6,353
8,575
32,537
0
16,202
48,739
42,336
33
0
0
33
3
33
0
0
33
3
1,194
0
0
1,194
1,611
0
0
0
0
1,488
1,194
0
0
1,194
3,099

10

BRIDGE CHURCH HAYLING ISLAND

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2023

3. EXPENDITURE ON:
Notes
Direct costs
Cafe Purchases
8
Charitable Giving:
Charitable Help
Donations
Foodbank/Crisis
8
Ministry Gifts
Resource Costs
Sub-total direct costs
Support costs
Premises
Bridge Advice Centre - running costs
Cleaning and Premises Expenses
Repairs & Maintenance
8
Utility Costs
Total premises costs
Staff costs and human resources
Salary Costs
Total staff costs and human resources
Administration costs
Administration Expenses
Equipment Expensed
License & Subscriptions
Refreshment Costs
Sundry Expenses
Total administration costs
a) Charitable Activities		 Unrestricted
Designated
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
2022/23
2021/22
352
0
2,100
2,452
821
700
0
0
700
1,305
0
0
0
0
150
0
0
2,594
2,594
9,399
0
0
0
0
300
348
0
0
348
13
1,400
0
4,694
6,094
11,989
1,715
0
0
1,715
2,170
135
0
0
135
411
388
0
285
673
902
2,539
0
0
2,539
2,284
4,777
0
285
5,062
5,767
16,020
0
0
16,020
14,339
16,020
0
0
16,020
14,339
387
0
0
387
675
602
0
0
602
236
145
0
0
145
548
0
0
0
0
17
131
0
0
131
0
1,265
0
0
1,265
1,475

11

BRIDGE CHURCH HAYLING ISLAND

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2023

3. EXPENDITURE ON:
Notes
Governance costs
Accounts preparation & examination
Bank Charges
Bookkeeping
Insurance Costs
Legal & Professional Fees
Mortgage Interest
Mortgage Setup Costs
Total governance costs
TOTAL CHARITABLE ACTIVITIES
a) Charitable Activities (continued)		 Unrestricted
Designated
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
2022/23
2021/22
900
0
0
900
0
0
0
0
0
0
1,184
0
0
1,184
948
1,835
0
0
1,835
1,689
0
0
0
0
191
5,355
0
0
5,355
5,741
0
0
0
0
0
9,274
0
0
9,274
8,568
32,736
0
4,979
37,715
42,138
4. TANGIBLE FIXED ASSETS
Notes
Cost
01-Apr-22
Additions
Cost at
31-Mar-23
Depreciation
01-Apr-22
Charge
Depreciation at
31-Mar-23
Net Book Value
31-Mar-23
Net Book Value
31-Mar-22		 Land &
Computer
Music
Projection
Fixtures &
Buildings
Equipment
Equipment
Equipment
Fittings
Total
£
£
£
£
£
£
387,127
0
0
0
0
387,127
19,740
0
0
0
0
19,740
406,867
0
0
0
0
406,867
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
406,867
0
0
0
0
406,867
387,127
0
0
0
0
387,127
General Fund

Land and Buildings comprises:

Land at Beach Road, Hayling Island. Title number SH 46083. Freehold 67 Beach Road, Hayling Island. Title number HP494305.

All fixed assets are used for direct charitable purposes. Some of the furniture, computers and equipment is used both for direct charitable purposes and the management and administration of the church.

The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31 March 2023: £0

31 March 2022: £0

12

BRIDGE CHURCH HAYLING ISLAND

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2023

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |5. CASH AT BANK AND IN HAND|Unrestricted|Designated|Restricted|TOTAL|TOTAL| |Funds|Funds|Funds|31-Mar-23|31-Mar-22| |£|£|£|£|£| |Bank accounts|1,627|0|26,433|28,060|43,301| |Cash in hand|213|0|0|213|924| |1,840|0|26,433|28,273|44,226| |6. DEBTORS AND PREPAYMENTS| |Unrestricted|Designated|Restricted|TOTAL|TOTAL| |Funds|Funds|Funds|31-Mar-23|31-Mar-22| |£|£|£|£|£| |Payroll|0|0|0|0|135| |0|0|0|0|135| |7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR| |Unrestricted|Designated|Restricted|TOTAL|TOTAL| |Funds|Funds|Funds|31-Mar-23|31-Mar-22| |£|£|£|£|£| |Independent Examiners Fees|900|0|0|900|900| |900|0|0|900|900| |7.a) CREDITORS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR| |31-Mar-23|31-Mar-22| |£|£| |Stewardship Church and Charity Lending|123,544|132,142| |123,544|132,142|

----- End of picture text -----

13

BRIDGE CHURCH HAYLING ISLAND

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2023

8. RESTRICTED FUNDS
India Fund
The Building Fund*
Food Bank Crisis Fund		 Balance
Balance
01-Apr-22
Income
Expenditure
Transfer
31-Mar-23
£
£
£
£
£
£
14,001
-2670
2,017
0
0
13,348
0
0
10,025
-95
-1,107
8,823
0
0
4,160
-4,884
4,986
4,262
14,001
-2,670
16,202
-4,979
3,879
26,433
Opening Bal
Adj

*An adjustment of £2670 was made to India Fund closing balance at 31.03.2022 due to misallocation of income from general fund in the previous year.

India Fund: Funds collected are used to support the work of an orphanage in India and other projects and to finance the church leaders travel expenses to India.

The Building Fund: Money collected in order to fund the building extension.

**The Building Fund's £19,740 expenditure was spent on building improvement so it was capitalised, while £18,633 was transferred from Designated funds in 22/23 to result in £1,107 in transfer to general fund.

The Food Bank Crisis Fund: Money collected to help run the service, which also helps with homelessness.

The restricted funds of the charity are represented by cash reserves.

8.a) PRIOR YEAR MOVEMENT ON RESTRICTED FUNDS

India Fund Balance
Balance
1-Apr-21
Income
Expenditure
Transfer
31-Mar-22
£
£
£
£
£
8,908
1,418
0
3,675
14,001
8,908
1,418
0
3,675
14,001

9. DESIGNATED FUNDS

The Building Fund
Food Bank Crisis Fund ***
Tax Reserve		 Balance
Transfers
Transfers
Balance
01-Apr-22
Income
In
Expenditure
Out
31-Mar-23
£
£
£
£
£
£
£
18,633
0
0
0
0
-18,633
0
5,910
-924
0
0
0
-4,986
0
135
0
0
0
0
-135
0
24,678
-924
0
0
0
-23,754
0
Opening
Bal Adj

***An adjustment of £924 was made to Food Bank Crisis Fund closing balance at 31.03.2022 due to misallocation of income from general fund in the previous year.

The designated funds of the charity are wholly represented by cash reserves.

The Tax Reserve Fund: Money set aside to pay a historic tax liability of our church leader which is no longer appliacable, funds were moved to general fund. The money is deducted from the salary paid to her.

14

BRIDGE CHURCH HAYLING ISLAND

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2023

9.a) PRIOR YEAR MOVEMENT ON DESIGNATED FUNDS

The Building Fund
Food Bank Crisis Fund
Tax Reserve		 Balance
Transfers
Transfers
Balance
1-Apr-21
Income
In
Expenditure
Out
31-Mar-22
£
£
£
£
£
£
0
0
18633
0
-
18,633
15,950
3,031
924
9,399
-4,595
5,910
-135
0
270
0
-
135
15,815
3,031
19,827
9,399
-4,595
24,678

10. STAFF COSTS AND NUMBERS AND THE COST OF KEY MANAGEMENT PERSONNEL

Gross Wages and Salaries
Employer's National Insurance Costs
Employer's Pension Contributions		 2022/23
2021/22
£
£
16,020
14,339
0
0
0
0
16,020
14,339

As at the end of this financial year the Charity employed 1 full time staff member (as at the end of the previous financial year 1 full time) in the following areas:

Activities in Furtherance of the Charity's Objects 1
1
1
1

No employee received emoluments in excess of £60,000 during this year (2021/22 - none). Staff are responsible for their own reporting to HMRC for tax and national insurance.

The key management personnel of the charity comprise the Board of Trustees and Church Leader. No Trustees are remunerated. The total employee benefits (including employer national insurance and employer pension contributions) of the key management personnel of the charity were £16,020 (2021/22: £14,339)

The church does not pay pension contributions on behalf of any employee, although a stakeholder pension scheme is offered to those who wish to contribute. The staging date for auto enrolment date for the church was April 2017. A pension scheme is available to eligible employees and employer contributions will be budgeted for and will be made in accordance with legislation.

15

BRIDGE CHURCH HAYLING ISLAND

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2023

11. CURRENT YEAR ANALYSIS OF
NET ASSETS BY FUND
Fixed Assets
Net Current Assets
Liabilities (due in more than one
year)
11.a) PRIOR YEAR ANALYSIS OF
NET ASSETS BY FUND
Fixed Assets
Net Current Assets
Liabilities (due in more than one
year)		 Unrestricted
Designated
Restricted
31-Mar-23 31-Mar-22
Funds
Funds
Funds
Total
Total
£
£
£
£
£
406,867
0
0
406,867
387,127
940
0
26,433
27,373
50,253
123,544
0
0
123,544
139,787
284,263
0
26,433
310,696
297,593
Unrestricted
Designated
Restricted
31-Mar-22 30-Mar-21
Funds
Funds
Funds
Total
Total
£
£
£
£
£
387,127
0
0
387,127
384,680
4,781
24,678
14,001
43,461
50,253
132,142
0
0
132,142
139,787
259,766
24,678
14,001
298,446
295,146

12. PAYMENTS TO TRUSTEES, MINISTERS AND RELATED PARTIES

M Dennison, a related party to trustee P Dennison received salary payments of £16,020 during the financial year. (2021/22: £14,339). No payments were made to trustees or any other persons connected with them during this financial period. No material transaction took place between the charity and a trustee or any person connected with them.

13. RISK ASSESSMENT

The trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.

14. RESERVES POLICY

The trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The trustees aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The trustees will endeavour not to set aside funds unnecessarily.

15. PUBLIC BENEFIT

The charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the trustees report. The trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.

16. PROPERTY EXTENSION

During the year ended 31st March 2020, Bridge Church, 67 Beach Road, Hayling Island has undertaken a significant extention and once finished the property will be valued at £425,000. The Charity made a capital contribution of £140,000 and the remaining £150,000 costs was provided by a mortgage from Stewardship Church and Charity Lending secured on the Land & Buildings over a 15 year fixed term period at an annual interest rate of 4% making monthly repayments of £1,262. The mortgage commenced on the 25th November, 2019 with mortgage maturity on the 24th November 2034.

1 year
2-5 years
5+ years
Debt Maturity Analysis
Total Outstanding		 5,665
22,660
95,219
123,544

16