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2022-03-31-accounts

Ammanford Evangelical Church

Report and Accounts Year ended 31 March 2022

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

AMMANFORD EVANGELICAL CHURCH

COMPANY INFORMATION

FOR THE YEAR ENDED 31 MARCH 2022

Trustees

Rhodri Darcy (resigned on 30 June 2021) Sammy Davies Emry Jenkins (appointed 15 November 2022) Aled Jones Rebecca Jones (appointed 23 May 2021)

Chairman

Aled Jones

Pastor

Sammy Davies

Governing Document

Memorandum and Articles of Association dated September 2001, as amended in March 2006

Company Registration Number

04280759

Charity Registration Number

1088525

Registered Office and Principal Address

6, College Street Ammanford Carmarthenshire, SA18 3AF

Independent Examiner

Ajay Rajani FCIE Stewardship 1 Lamb's Passage London EC1Y 8AB

Bankers

Lloyds Bank plc Ammanford Carmarthenshire

Contents
Contents Page
Company Information 1
Trustees' Annual Report 2-4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Accounts 8-13

Page 1

AMMANFORD EVANGELICAL CHURCH TRUSTEES’ REPORT (INCORPORATING DIRECTORS REPORT) FOR THE YEAR ENDED 31 MARCH 2022

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

Objects of the Charity

The principle object of the charity is the advancement of the Christian faith in Carmarthenshire and beyond.

Government

The trustees are responsible for legal and administrative policy and for operating decisions; they communicate regularly to monitor the activities of the charity. In planning the activity of the charity, the trustees have had regard to the guidance on public benefit issued by the Charity Commission.

New trustees are appointed by the existing trustees and endorsed by the members at the next General Meeting.

Review of Activities

In promoting the advancement and care of the Christian faith the emphasis is, as a church of all ages, corporately and as individuals, to be an active part of the community. We seek to practice care and love for our community by showing compassion and care for those inside and outside the formal structures of the church.

The Church continues to support, foster and develop links with those engaged in Christian work abroad, in a wide variety of continents. We are, as a charity, obviously committed to this part of Wales but our interests and support are not limited to this area of Carmarthenshire.

Carrying on from the previous financial year we continued to work in the face of the COVID-19 pandemic. Whilst the measures taken to mitigate the spread of the virus have prevented many normal church activities from taking place physically, many church services have continued online, in fact, reaching many more individuals within the local area. However, as government guidelines allowed, we were able to meet together in socially distanced services in both Llandybie Public Memorial Hall and our own building following the necessary regulations and with Risk Assessments in place.

Church staff adapted to a mixture of remote and in-person working, as permitted by government regulations ensuring safety measures are in place to protect them in face-to-face settings.

Throughout the year we sought to take opportunities to reach and serve the local community as they arose. With a mixture of online and in-person activities, the weekly Wednesday night prayer meeting and Bible study evolved into individual online calls or in person gatherings; well attended throughout the year. Facilitating the option of online or in-person gathering has allowed individuals within the church to return to personal gatherings at a rate they deem personally suitable, giving over full control to the individuals. It was very much the intention of the trustees to enable individuals to make their own decisions instead of the trustees making one decision affecting the entire congregation.

Page 2

After last year’s expanded growth, our Welsh language service changed location to enable in-person gatherings, choosing to meet in the larger premises of Llandybie Public Memorial Hall. This was well received and saw a good number returning, as able, to in-person meetings.

In seeking to engage with and serve the community, annual activities such as the popular Christmas Day Meal for those who would otherwise be on their own, continue to take place, albeit in the same format as last year whereby guests were delivered a hot meal and pudding to their homes, in a COVID-19 secure manner, instead of being brought together in one location. It is hoped that in the next year to be able to return to an altogether dinner in Llandybie Public Memorial Hall. This was well received and gave us good opportunity to engage with a local business once again and support those in our local community that were isolated or lonely, especially over the festive period.

At present, it is hard to assess the long-term impact of the virus on the church’s future activities. After a meeting of the Finance Committee at the start of the financial year it was decided that in the wake of reduced income to the church, all non-essential expenditure be avoided. This was in tandem with no budget set for the year, instead a monthly report to the trustees on the present finances was agreed as well as staff and trustees looking to granting bodies to help cover the costs for the incoming year. The church was successful in an application to the Moondance Foundation to help cover some of the years rental and utility costs, helping free up a little bit of cash for essential activities throughout the year.

Throughout the year many activities have arisen to serve the local community and it is a testament to the generosity of the church members both financially and through the giving of their time, that the church leadership remains encouraged and confident that the church will continue to adapt to the post-COVID-19 world.

In April 2021 the Church transferred the operation of its foodbank, and related net assets, to a new independent charity established to run and develop the foodbank. The name of the new charity is Ammanford Foodbank and its registered charity number is 1194085.

Financial Review

In the accompanying accounts the transactions associated with the foodbank transferred to the new foodbank charity (see above) are reported as a discontinued operation. If the income and expenditure associated with the foodbank are excluded:

The surplus on the Church’s continuing activities (excluding the foodbank) was £22,351 (2021: a deficit of £20,997) and but the transfer of assets to Ammanford Foodbank (treated as a grant in these accounts) gave rise to a deficit of £85,131 (2021: a surplus of £48,350) in respect of the foodbank. The overall combined deficit for the year was £62,780 (2021: a surplus of £27,353) and net assets decreased by that amount to £206,796. Net assets comprise tangible fixed assets (principally the Church building) with a carrying value of £132,021, cash of £57,149 (of which £10,304 is restricted) and other net current assets of £17,626 (principally a grant of £14,548 due from the Welsh Government).

Page 3

Reserves Policy

The trustees have determined that the charity should aim to hold free reserves (defined as being cash held in unrestricted general funds) of no less that £30,000, which equates to about 3 month’s of unrestricted expenditure, so that the charity could continue to operate should income and / or expenditure vary adversely. The charity ended the year with cash in unrestricted general funds of £41,033 (a further £5,812 is held in unrestricted designated funds) and the charity is complying with its reserves policy.

Risk Statement

The trustees have reviewed the risks to which a charity such as ours with a few employees is exposed. Appropriate procedures are in place to identify, monitor and review these risks on a regular basis.

Responsibilities of trustees under company law

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 its incoming resources and application of its resources, including income and expenditure, for the financial year. In preparing the financial statements, the trustees are required to:

1. Select suitable accounting policies and apply them consistently;

2. Observe the methods and principals 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:

Aled Jones

Aled Jones Chair of Trustees Company number: 04280759 Charity number: 1088525

Date: 8 December 2022

Page 4

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF

AMMANFORD EVANGELICAL CHURCH

('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022 on pages 6 to 13 following, which have been prepared on the basis of the accounting policies set out on pages 8 and 9.

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.

Ajay Rajani

Ajay Rajani FCIE Stewardship 1 Lamb's Passage London EC1Y 8AB

Date: 14 December 2022

Page 5

AMMANFORD EVANGELICAL CHURCH

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2022

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Charitable activities
Other trading activities
Investments
Total income and endowments
EXPENDITURE ON:
Charitable activities
4
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
Unrestricted
General
Designated
Restricted
Funds
Funds
Funds
£
£
£
114,907
-
32,494
8,833
354
-
586
-
-
3
-
-
124,329
354
32,494
112,633
4,440
17,753
112,633
4,440
17,753
11,696
(4,086)
14,741
(448)
-
448
11,248
(4,086)
15,189
33,613
141,169
9,663
44,862
137,082
24,852
Continuing Operations		 Unrestricted
Unrestricted
General
Designated
Restricted
Funds
Funds
Funds
£
£
£
114,907
-
32,494
8,833
354
-
586
-
-
3
-
-
124,329
354
32,494
112,633
4,440
17,753
112,633
4,440
17,753
11,696
(4,086)
14,741
(448)
-
448
11,248
(4,086)
15,189
33,613
141,169
9,663
44,862
137,082
24,852
Continuing Operations		 Discontinued
Operations
Restricted
Funds
Foodbank
£
-
-
-
-
-
85,131
85,131
(85,131)
-
(85,131)
85,131
-		 Total
Funds
2022
£
147,401
9,187
586
3
157,177
219,957
219,957
(62,780)
-
(62,780)
269,576
206,796		 Unrestricted
Unrestricted
General
Designated
Restricted
Funds
Funds
Funds
£
£
£
102,960
-
3,329
-
12
-
1,438
-
-
8
-
-
104,406
12
3,329
119,240
4,065
5,439
119,240
4,065
5,439
(14,834)
(4,053)
(2,110)
(4,735)
4,735
-
(19,569)
682
(2,110)
53,182
140,487
11,773
33,613
141,169
9,663
Continuing Operations		 Discontinued
Operations
Restricted
Funds
Foodbank
£
120,060
-
-
-
120,060
71,710
71,710
48,350
-
48,350
36,781
85,131		 Total
Funds
2021
£
226,349
12
1,438
8
Unrestricted
Designated
Funds
£
-
354
-
-
354
4,440
4,440
(4,086)
-
(4,086)
141,169
137,082
227,807
200,454
200,454
27,353
-
11,248
33,613
44,862		 27,353
242,223
269,576

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

The discontinued activity referred to above is the foodbank that was operated by the charity until April 2021 when this activity and its net assets were transferred to a newly registered charity (Ammanford Foodbank charity registered number 1194085).

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 8 to 13 form part of these accounts.

Page 6

AMMANFORD EVANGELICAL CHURCH

BALANCE SHEET

AS AT 31 MARCH 2022

Note
FIXED ASSETS
Tangible assets
6
CURRENT ASSETS
Stock
7
Debtors
8
Cash at bank and in hand
9
CREDITORS: Amounts falling
due within one year
10
Net current assets / (liabilities)
TOTAL NET ASSETS
FUND BALANCES
12
Unrestricted Funds
General funds
Designated funds
Restricted Funds		 Unrestricted
Funds
£
132,021
-
5,967
46,845
52,812
(2,889)
49,923
181,944
44,862
137,082
-
181,944		 Restricted
Funds
£
-
-
14,548
10,304
24,852
-
24,852
24,852
-
-
24,852
24,852		 Total
Funds
2022
£
132,021
-
20,515
57,149
77,664
(2,889)
74,775
206,796
44,862
137,082
24,852
206,796		 Total
Funds
2021
£
137,515
14,348
5,235
115,251
134,834
(2,773)
132,061
269,576
33,613
141,169
94,794
269,576

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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:

Aled Jones

Aled Jones Chair of Trustees

Date: 8 December 2022

Company number: 04280759

Charity number: 1088525

The notes on pages 8 to 13 form part of these accounts.

Page 7

AMMANFORD EVANGELICAL CHURCH

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 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.

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:

When donated goods are distributed, an expense in respect of those items is included in the Statement of Financial Activities. At the year end any goods that have not been distributed are recognised as stock.

The charity relies on volunteers to carry out many of its activities. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.

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

Page 8

AMMANFORD EVANGELICAL CHURCH

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2022

2 Accounting Policies continued

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 £1,000 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:

Freehold property Over 50 years after taking account of the building's residual value Equipment Over 4 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) Stocks

Stocks of donated items held for distribution to beneficiaries are measured at fair value.

g) Pension scheme arrangements

The charity operates defined contribution pension schemes for its employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds.

h) 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.

i) Financial instruments

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

j) 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.

k) Critical accounting estimates and areas of judgement

The trustees do not consider that there are 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
Donations of food and similar
Grants receivable
Welsh Government: community facilities grant
Other grants
Income tax recoverable
4
Charitable expenditure
a
Costs incurred directly on specific activities
Ministry staff costs including staff development
Ministry costs
Outreach
Property related costs
Depreciation
Food bank:
Distribution of donated goods
Staff costs
Operating expenses
Depreciation
Grants payable (note 4c)		 2022
£
117,350
-
14,548
13,000
2,503
147,401
2022
£
78,419
4,106
2,644
18,983
4,384
108,536
-
-
-
-
-
105,299
213,835		 2021
£
156,520
61,821
-
9,926
(1,918)
226,349
2021
£
82,258
3,353
1,194
13,684
4,873
105,362
55,619
13,525
2,011
555
71,710
17,425
194,497

Page 9

AMMANFORD EVANGELICAL CHURCH

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2022

4 Charitable expenditure continued

b Costs incurred on support & administration

Costs incurred on support & administration
Governance: Accounts preparation and independent examination
Professional fees
Sundry support costs
Total expenditure		 2,100
173
3,849
6,122
219,957		 2,520
251
3,186
5,957
200,454

The fee payable to the independent examiner for preparing and examining the accounts was £2,100 (2021: £2,520); in addition the charity paid £90 (2021: £90) to Stewardship for consultancy services.

c Grants payable

nts payable
Missionary support
Emanuel Christian Church, Romania
Individuals
Other small grants to institutions
Relief of poverty:
Ammanford Foodbank
Individuals
Other small grants to institutions		 Institutions
£
4,530
-
1,636
85,131
-
-
91,297		 Individuals
£
-
9,543
-
-
4,459
-
14,002		 2022
£
4,530
9,543
1,636
85,131
4,459
-
105,299		 2021
£
-
12,000
2,186
-
938
2,301
17,425

When the charity transferred the operation of the foodbank to a new charity (Ammanford Foodbank charity registered number 1194085), it also transferred the assets held for the foodbank to the new charity and the transfer of these assets has been shown as a grant paid to Ammanford Foodbank. This comprised principally cash of £69,673 and stock of donated goods valued at £14,348.

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

ysis of staff costs, the cost of key management personnel and trustee remuneration
Gross wages, salaries & benefits in kind
Employer's national insurance
Pension costs		 2022
£
71,766
2,409
2,677
76,852		 2021
£
84,916
3,583
2,884
91,383

The average monthly number of employees during the year was 3 (2021: 3.4). 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:

S Davies, who is a trustee
The following amounts were payable in the previous year:
S Davies, who is a trustee		 Wages &
salaries
31,953
Wages &
salaries
31,953		 Employer
pension
contributions
1,821
Employer
pension
contributions
1,821		 2022
£
33,774
2021
£
33,774

S Davies 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.

Page 10

AMMANFORD EVANGELICAL CHURCH

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2022

6 Tangible fixed assets

Cost
At 1 April 2021
Additions
Disposals
At 31 March 2022
Accumulated depreciation
At 1 April 2021
Charge for the year
Eliminated on disposal
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021
7
Stock
Stock of food, and other donated goods, held for distribution
8
Debtors
Tax recoverable
Grants receivable
Prepayments and other accrued income
9
Cash at Bank and in Hand
Bank operating accounts
Bank deposits
Petty cash
10
Creditors: liabilities falling due within one year
Accruals		 Freehold
Property
£
200,489
-
-
200,489
65,209
4,010
-
69,218
131,271
135,280		 Fixtures,
fittings and
equipment
£
13,930
-
(2,220)
11,710
11,695
374
(1,110)
10,959
751
2,235
2022
£
-
2022
£
2,425
14,548
3,542
20,515
2022
£
30,735
26,355
60
57,149
2022
£
2,889
2,889		 Total
£
214,419
-
(2,220)
212,199
76,904
4,384
(1,110)
80,178
132,021
137,515
2021
£
14,348
2021
£
2,836
-
2,399
5,235
2021
£
100,394
14,404
453
115,251
2021
£
2,773
2,773

11 Pension commitments

During the year employer’s pension contributions totalling £2,677 (2021: £2,552) were payable to defined contribution personal pension schemes. At the balance sheet date the charity owed pension contributions totalling £309 (2021: £332).

Page 11

AMMANFORD EVANGELICAL CHURCH

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2022

12 Funds

During the year the movements in the charity's funds were as follows:

Designated Funds
Tiddlywinks fund
Kindness fund
Capital fund
General Unrestricted Funds
Total Unrestricted Funds
Restricted Funds
Foodbank
Kindness
Mission
Internship
Christmas Day Meal
Covid
Building
Aggregate of funds		 Opening
balance
2022
£
1,153
4,735
135,280
141,169
33,613
174,782
87,947
5,378
1,306
163
-
-
94,794
269,576		 Incoming
resources
2022
£
354
-
-
354
124,329
124,683
-
1,527
-
1,804
1,615
8,000
19,548
32,494
157,177		 Outgoing
resources
2022
£
(431)
-
(4,010)
(4,440)
(112,633)
(117,073)
(85,131)
(4,459)
(1,306)
(1,925)
(2,063)
(8,000)
-
(102,884)
(219,957)		 Transfers
in the year
2022
£
-
-
-
-
(448)
(448)
-
-
-
-
448
-
-
448
-		 Closing
balance
2022
£
1,077
4,735
131,271
137,082
44,862
181,944
2,816
2,446
-
42
-
-
19,548
24,852
206,796

Analysis of net assets by fund

The assets and liabilities of the various funds were as follows:

Tangible fixed assets
Stock
Debtors
Cash at bank and in hand
Creditors falling due within one year
In the previous year the movements in the charity's funds
Designated Funds
Tiddlywinks fund
Kindness fund
Capital fund
General Unrestricted Funds
Total Unrestricted Funds
Restricted Funds
Foodbank
Kindness
Mission
Internship
Aggregate of funds		 General
Designated
funds
funds
£
£
751
131,271
-
-
5,967
-
41,033
5,812
(2,889)
-
44,862
137,082
were as follows:
Opening
Incoming
Outgoing
balance
resources
resources
2021
2021
2021
£
£
£
1,197
12
(56)
-
-
-
139,289
-
(4,009)
140,487
12
(4,065)
53,182
104,406
(119,240)
193,668
104,418
(123,305)
39,597
120,060
(71,710)
7,651
3,166
(5,439)
1,306
-
-
-
163
-
48,554
123,389
(77,149)
242,222
227,807
(200,454)
Unrestricted Funds		 Restricted
funds
£
-
-
14,548
10,304
-
24,852
Transfers
in the year
2021
£
-
4,735
-
4,735
(4,735)
-
-
-
-
-
-
-		 2022
£
132,021
-
20,515
57,149
(2,889)
206,796
Closing
balance
2021
£
1,153
4,735
135,280
141,169
33,613
174,782
87,947
5,378
1,306
163
94,794
269,576

Page 12

AMMANFORD EVANGELICAL CHURCH

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2022

12 Funds continued

Analysis of net assets by fund

In the previous year, the assets and liabilities of the various funds were as follows:

Tangible fixed assets
Stock
Debtors
Cash at bank and in hand
Creditors falling due within one year		 General
Designated
funds
funds
£
£
1,124
135,280
-
-
5,110
-
30,152
5,888
(2,773)
-
33,613
141,169
Unrestricted Funds		 Restricted
funds
£
1,110
14,348
125
79,211
-
94,794		 2021
£
137,515
14,348
5,235
115,251
(2,773)
General
funds
£
1,124
-
5,110
30,152
(2,773)
33,613
269,576

The Capital fund is a designated fund and represents funds set aside by the trustees in respect of the charity's net investment in property; these funds are not available for general use.

The Tiddlywinks fund is a designated fund created from donations to a ministry for toddlers and their parents.

The Foodbank fund is a restricted fund and was created to operate a foodbank from donations of cash, food and similar items to help those facing hardship in the local community. In April 2021 a new charity was registered to continue this activity (Ammanford Foodbank charity registered number 1194085) and the net assets held for this activity were transferred to the new charity in April 2021. The carried forward balance on the fund represents other donations received to help support the Foodbank.

The restricted Kindness fund was created from donations given to help those facing hardship in the local community. In addition in the previous year the trustees decided to set aside some of the charity's unrestricted funds for this initiative and, in the previous year, they transferred £4,735 into a new designated fund with the same purpose.

The Mission fund is a restricted fund created from donations given to support mission.

The Internship fund is a restricted fund created from donations received to help meet the expenses of interns.

The Christmas Day Meal fund is a restricted fund created from donations received to help provide meals on Christmas Day to those suffering hardship.

The Covid fund is a restricted fund created by a grant received to help meet certain costs associated with operating the charity (namely rent and utilities) during the COVID-19 pandemic.

The Building fund is a restricted fund created from grants received to help improve accessibility to the property owned by the church.

13 Transactions with related parties

During the year the charity received £6,520 (2021: £7,733) from Stewardship from monies donated to Stewardship by related parties (which includes trustees, key management and anyone closely connected to them).

Except for the reimbursement of expenses incurred when acting as agent for the charity, or incurred when undertaking employment duties, no expenses (2021: £Nil) were paid to (or for) the trustees.

The charity and Ammanford Foodbank (registered charity number 1194085) share a trustee who, as one of three trustees in each of the charities, can exercise significant influence. Ammanford Foodbank is therefore considered to be a related party. During the year the charity paid grants totalling £85,131 to Ammanford Foodbank and received rent totalling £8,833 from Ammanford Foodbank.

Except as disclosed in note 5 'Analysis of staff costs', there have been no other transactions with related parties during the year.

14 Members

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

Page 13