COMPANY REGISTRATION NUMBER: 4238391 CHARITY REGISTRATION NUMBER: 1088755
Overflow Church
Company Limited by Guarantee Unaudited Financial Statements
31 August 2023
HASWELL BROTHERS LLP
Chartered Accountants First Floor Pembroke House Ellice Way Wrexham Technology Park Wrexham LL13 7YT
Overflow Church
Company Limited by Guarantee
Financial Statements
Year ended 31 August 2023
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 10 |
| Statement of financial activities (including income and | |
| expenditure account) | 11 |
| Statement of financial position | 12 |
| Notes to the financial statements | 13 |
Overflow Church
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 August 2023
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 August 2023.
Reference and Administrative Details
Registered charity name Overflow Church Charity registration number 1088755 Company registration number 4238391 Principal office and registered c/o Hoole Lighthouse Centre office Westminster Road Hoole Chester Cheshire CH2 3AU The Trustees P J Stevens S D Glover G L Parsons Company Secretary S J Mahe Independent Examiner A H Thomas FCA
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Overflow Church
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued) Year ended 31 August 2023
Structure, Governance and Management
The key components of the Church governance and management structure are the Board of Trustees, team leader and church leadership team. Both employed staff and volunteers play a crucial role in our ability to deliver our objectives. Our goal is to see 75% of all ages actively involved in serving as part of our extended team.
Governance
The governance of the Church and Charity is vested in the Trustees as a body corporate. The Board of Trustees oversee the vision and strategies of the Church and provide appropriate checks and balances to the governance of the Charity. The full Board meets four times each year with one of those meetings held jointly with the Trustees and the church's leadership team. The Board welcomed Gerard Parsons as a trustee in September 2022 as a replacement for Sara Frith who resigned as a trustee on 31 August 2022. Gerard is an active member of Overflow Church and a great addition. Any appointments take account of the balance of the Board to ensure the charity operates with reference to good practice as well as the diversity of skill and experience. The final appointment is made by the Trustees as set out in the Memorandum and Articles of Association. New trustees are either familiar with how a church runs because they themselves have experience or are mature members of Overflow Church. This enables each to to be able to make an early contribution to the working of the Board. Copies of applicable documentation regarding the role of the Trustees (Charity Commission guide CC3 'The Essential Trustee: what you need to know' and the Companies House 'Directors and Secretaries Guide') are provided, along with copies of the Memorandum and Articles of Association, copies of minutes and accounts.
The current Board comprises church members from the Winsford congregation together with an 'external' Trustee who is involved in the leadership of HBC Chester.
Risks
Trustees actively review the major risks that the Church faces, both generally and specifically. In the current year, the greatest risks are assessed to be:
Potential risks that we identified for this financial year
Maintaining financial security due to :-
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Income in the financial year 2021-22 not increasing as expected.
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Uncertainty of growth of income due to any impact of Covid-19 and the high rise of inflation.
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Potential loss of income from the congregation decreasing in size if Covid-19 regulations impact meeting in person again.
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Changes in trustees as one trustee resigned at the end of the financial year 2021-22 and a new one appointed at the beginning of the new financial year.
Key things to help reduce these risks
1) The budget set was based on anticipating a small increase in income with potentially the need to reduce staffing hours.
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Overflow Church
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2023
2) The finances were reviewed monthly with a full budget review 6 months into the new financial year.
3) The new trustee was briefed and supported by the outgoing trustee to help smooth transition. This transition was very smooth.
This analysis was reviewed by a team comprising of the Trustees and the church's leadership team.
Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the Charity's website. At the time of writing this report, a full update of the website has been completed ensuring all information is correct and that the website complies with GDPR legislation.
Management
The Board of Trustees has delegated day-to-day management to the team leader, assisted by the church's leadership team and staff. This is done in line with decisions that trustees have made.
The leadership, comprising of the team leader and key leaders in the church cover all aspects of church life, meet about 9 to 10 times a year. These meetings include all areas of activity, planning and effectiveness but also matters of finance, human resources and health and safety as well as implementation of vision and strategy.
The leadership team works with team members for our Sunday meetings and in leading home-based groups mid-week.
Partnering with Other Organisations
The church recognises the benefit of collaborative working where there are shared values and objectives. This enables more efficient delivery of the charity objectives and increases local cohesion between similar organisations.
As a church we work with:
- Hoole Baptist Church Chester (registered charity 1131495)
Our partnership with HBC is continuing to grow since it commenced in January 2019. The Kingdom Alliance that was formed is working well and continues to develop. This partnership has resulted in the continued use of the HBC Chester office space, HBC helping with worship leaders and speakers, as well as providing support to the leadership team. We also hold some joint meetings together. Sue Glover, one of our trustees, is also a trustee for HBC and on their leadership team. This enhances our working together.
- Churches Together in Winsford
Churches Together is a community group of churches that are based in Winsford. Together we chat about how we can work together and do joint events. In April 2023, we joined with other churches in Winsford for a march of witness on Good Friday.
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Overflow Church
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2023
Objectives and Activities
Objectives and Mission Statement
The primary objectives of Overflow Church are:
i) To advance the Christian faith in Winsford and Cheshire, the United Kingdom, and the rest of the world and to fulfil such other purposes which are exclusively charitable connected with the work of the Church; and
ii) To relieve persons who are in conditions of need or hardship or who are aged or sick, and or relieve the distress caused in Cheshire, the United Kingdom, or other parts of the world as the Trustees see fit.
Our mission statement is:
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Vision Statement: We want to be a church that brings healing, wholeness, and freedom to broken lives and communities as we expect great things from God and attempt great things with God.
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Mission Statement: We want to help people to love, trust and follow Jesus.
Activities
In addressing the above objectives, our activities fall into three main categories:
Ministry
Working to help, support and connect with people, in particular to present the Christian life and faith to those who have little or no church connection or awareness.
Community
Working in partnership with churches and local agencies to serve the local community.
Grants and donations
Providing financial support to people, churches, and communities with whom we relate, both locally and overseas.
The Bible tells us that one of the purposes of ministry is to train and equip people for works of service, and so our activity seeks not only to deliver our objectives in the most effective way but also to teach and train others to do the same.
We endeavour to minimise support costs and focus on investing our resources into providing the relational support necessary for church life, in particular the ministry and community angles.
Grants are made, wherever possible, to those with whom the Church is in relationship. This reasonably assures Trustees that funds are used in accordance with our charitable objectives:
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Overseas grants are made to churches, individuals, or ministries for activities consistent with our objectives, for example the alleviation of poverty.
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UK grants are made to churches, individuals, or ministries consistent with our objectives. Some will be to those who visit the Overflow Church to minister.
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Overflow Church
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2023
- Grants are made for local relief of hardship within Overflow Church or the immediate area at the recommendation of the leadership team.
Summary
In summary, we seek;
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to reach unchurched people and present the Christian life and faith.
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to provide a caring community for those who respond.
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to provide practical and financial help in the UK and overseas for like-minded projects.
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to serve the people of Cheshire by planting local missional communities, as a local community partner and working together with other like-minded agencies.
Strategic Report
The following sections for achievements and performance and financial review form the strategic report of the charity.
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Overflow Church
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued) Year ended 31 August 2023
Achievements and Performance
In the reported year, Overflow Church has looked to achieve the following:
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Maintaining of financial security and surplus so we can increase our reserves.
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Further develop missional communities.
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Providing practical and financial help in the UK and overseas.
The Trustees are pleased to report the following progress made in these areas.
Maintaining financial security and surplus so to increase our reserves
We are pleased to have completed this financial year with income being higher than budgeted and expenditure being lower than budgeted. The increased income due to new people joining the church.
Missional Communities
Missional Communities have gone well creating opportunities for people who wouldn't normally go to church to access these gatherings. Due to the numbers of people attending missional communities, we started a third one in April 2023.
Settle into new location
Due to covid we needed to find a new venue to meet, as the previous venue we hired was no longer available. We started to meet regularly in our new venue, Winsford Academy, at the end of July 2021. This has gone very well. Our in-person numbers and Sunday attendance have slowly increased as the year has gone on with increased visitors and people joining.
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Overflow Church
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2023
Achievements and Performance (continued)
Providing practical and financial help in the UK and overseas
We are pleased to be able to continue the support of an orphanage in Nepal by donating £780 in the financial year. We also gave donations to Mid Cheshire foodbank, HBC's building project and The Meeting Place café, The Bible Society and Winsford Church's Together.
Plans for future periods
The Trustees have identified priorities in the following areas for Overflow Church's future focus.
Immediate and strategic
Looking at the next financial year, we plan to continue to stablise and establish missional communities; see Sunday attendance increase; continue to develop our relationship with HBC and other churches through running a weekend away together; and to support the work in Nepal.
Employed and Volunteer Staff
The church values both its volunteers and employees highly and the provision of trained and dedicated personnel is a priority for the church. We have deployed both employees and volunteers in leadership roles within the church. In turn, these individuals lead, manage and support others who help with activities and events.
We seek to manage staff fairly and professionally. Our church handbook provides all staff with detailed information about policies and procedures regarding financial, employment, organisation, and decision-making matters. This particularly covers the areas identified on the Charity Commissioners' checklist of good practice and documentation, the delegation of authority.
Trustees' Responsibilities Statement
The Trustees (who are also the directors of Overflow Church for the purposes of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standard (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 affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the period. In preparing these financial statements, the Trustees are required to:
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Select suitable accounting policies and then apply them consistently.
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Observe the methods and principles in the Charities SORP.
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Make judgements and estimates that are reasonable and prudent.
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State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements.
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Prepare the financial statement on the ongoing concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and
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Overflow Church
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2023
Achievements and Performance (continued)
explain the charitable company's transactions and 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. The Trustees are also responsible for safeguarding the assets of the charitable company and hence for taking steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website.
Independent examiner
The charitable company's independent examiner is Mr A H Thomas of Haswell Brothers LLP, Chartered Accountants.
Financial Review
Overview
The reported year resulted in a deficit totalling £1,020 for the year ended 31st August 2023 (2022 £1,904 deficit).
The full financial statements and associated policies and notes are included at the end of this report with some of the key points noted below:
Income
Donations and legacies has a small increase with £33,567 received in the current year compared with £31,677.
Charitable income has decreased to £6,097 from £7,992.
Expenses
Expenses reported show £40,726 compared with the previous year of £41,576.
Assets
Debtors comprise of £474 compare with £503. This is mainly made up of a gift aid debtor.
Fixed Assets of £316 comprise of equipment after depreciation.
Cash at bank includes general operating reserves which are held at the level agreed by the Trustees. Overflow Church’s normal practice is to utilise its resources to the maximum in order to fulfill its mission but aims to maintain sufficient reserves to pay all its bills and to retain one month’s salary expenses in reserve.
Liabilities
Creditor of £6,859 compared with the previous year of £765 is mainly made up of income taken on behalf of another charity awaiting payment.
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Overflow Church
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2023
The trustees' annual report and the strategic report were approved on 21 May 2024 and signed on behalf of the board of trustees by:
P J Stevens Trustee
S J Mahe Charity Secretary
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Overflow Church
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Overflow Church
Year ended 31 August 2023
I report to the trustees on my examination of the financial statements of Overflow Church ('the charity') for the year ended 31 August 2023.
Responsibilities and Basis of Report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 the 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:
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accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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the financial statements do not accord with those records; or
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the financial statements 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
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the financial statements 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.
A H Thomas FCA Independent Examiner
Haswell Brothers LLP Chartered Accountants First Floor Pembroke House Wrexham Technology Park Ellice Way Wrexham LL13 7YT
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Overflow Church
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 August 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 33,567 | – | 33,567 | 31,677 |
| Charitable activities | 6 | – | 6,097 | 6,097 | 7,992 |
| Investment income | 7 | 42 | – | 42 | 2 |
| Other income | 8 | – | – | – | 1 |
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| Total income | 33,609 | 6,097 | 39,706 | 39,672 | |
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| Expenditure | |||||
| Expenditure on charitable activities | 9,10 | 34,629 | 6,097 | 40,726 | 41,576 |
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| Total expenditure | 34,629 | 6,097 | 40,726 | 41,576 | |
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| Net expenditure and net movement | in | ||||
| funds | (1,020) | – | (1,020) | (1,904) | |
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| Reconciliation of funds | |||||
| Total funds brought forward | 6,360 | 3,085 | 9,445 | 11,349 | |
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| Total funds carried forward | 5,340 | 3,085 | 8,425 | 9,445 | |
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The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 13 to 22 form part of these financial statements.
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Overflow Church
Company Limited by Guarantee
Statement of Financial Position
31 August 2023
| 2023 | 2022 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Fixed Assets | ||||
| Tangible fixed assets | 16 | 316 | 481 | |
| Current Assets | ||||
| Debtors | 17 | 474 | 503 | |
| Cash at bank and in hand | 14,494 | 9,226 | ||
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| 14,968 | 9,729 | |||
| Creditors: amounts falling due within one year | 18 | 6,859 | 765 | |
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| Net Current Assets | 8,109 | 8,964 | ||
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| Total Assets Less Current Liabilities | 8,425 | 9,445 | ||
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| Net Assets | 8,425 | 9,445 | ||
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| Funds of the Charity | ||||
| Restricted funds | 3,085 | 3,085 | ||
| Unrestricted funds | 5,340 | 6,360 | ||
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| Total charity funds | 20 | 8,425 | 9,445 | |
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For the year ending 31 August 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 21 May 2024, and are signed on behalf of the board by:
P J Stevens Trustee
The notes on pages 13 to 22 form part of these financial statements.
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Overflow Church
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 August 2023
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is c/o Hoole Lighthouse Centre, Westminster Road, Hoole, Chester, Cheshire, CH2 3AU.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going Concern
There are no material uncertainties about the charity's ability to continue.
Judgements and Key Sources of Estimation Uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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Overflow Church
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
3. Accounting policies (continued)
Incoming Resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources Expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible Assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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Overflow Church
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
3. Accounting policies (continued)
Tangible Assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
| PA & Electrical | - | Straight line depreciation over 4 years |
|---|---|---|
| Fixtures and fittings | - | Straight line depreciation over 10 years |
| Equipment | - | Straight line depreciation over 4 years |
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial Instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
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Overflow Church
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
3. Accounting policies (continued)
Financial Instruments (continued)
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined Contribution Plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Limited by guarantee
The charity is a registered company limited by guarantee and has no share capital.
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Overflow Church
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
5. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Tithes, offerings & donations | 29,818 | 29,818 | 28,024 | 28,024 |
| Gift aid on above | 3,749 | 3,749 | 3,653 | 3,653 |
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| 33,567 | 33,567 | 31,677 | 31,677 | |
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| Charitable activities | ||||
| Restricted | Total Funds | Restricted | Total Funds | |
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| The Big Weekend | 6,097 | 6,097 | 7,944 | 7,944 |
| Mission Shaped Living | – | – | 48 | 48 |
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| 6,097 | 6,097 | 7,992 | 7,992 | |
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| Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Bank interest received | 42 | 42 | 2 | 2 |
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| Other income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Other income | – | – | 1 | 1 |
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6. Charitable activities
7. Investment income
8. Other income
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Overflow Church
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
9. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds | |||
|---|---|---|---|---|---|
| Funds | Funds | 2023 | |||
| £ | £ | £ | |||
| Advancement of the Christian Faith | 23,088 | 6,097 | 29,185 | ||
| Support costs | 11,541 | – | 11,541 | ||
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| 34,629 | 6,097 | 40,726 | |||
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| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Advancement of the Christian Faith | 20,094 | 7,944 | 28,038 | ||
| Support costs | 13,490 | 48 | 13,538 | ||
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| 33,584 | 7,992 | 41,576 | |||
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| 10. | Expenditure on charitable activities by activity type | ||||
| Activities | |||||
| undertaken | Total funds | Total fund | |||
| directly | Support costs | 2023 | 2022 | ||
| £ | £ | £ | £ | ||
| Advancement of the Christian Faith | 29,185 | 10,798 | 39,983 | 40,901 | |
| Governance costs | – | 743 | 743 | 675 | |
|
|
|
|
||
| 29,185 | 11,541 | 40,726 | 41,576 | ||
|
|
|
|
||
| 11. | Analysis of support costs | ||||
| Analysis of | |||||
| support costs | |||||
| activity 1 | Total 2023 | Total 2022 | |||
| £ | £ | £ | |||
| Staff costs | 5,301 | 5,301 | 4,880 | ||
| General office | 5,332 | 5,332 | 7,818 | ||
| Governance costs | 745 | 745 | 675 | ||
| Depreciation | 165 | 165 | 165 | ||
|
|
|
|||
| 11,543 | 11,543 | 13,538 | |||
|
|
|
|||
| 12. | Net expenditure | ||||
| Net expenditure is stated after charging/(crediting): | |||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Depreciation of tangible fixed assets | 165 | 165 | |||
|
|
- 18 -
Overflow Church
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
13. Independent examination fees
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 732 | 675 |
|
|
14. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 20,733 | 20,887 |
| Social security costs | 1,583 | 1,258 |
| Employer contributions to pension plans | 932 | 722 |
|
|
|
| 23,248 | 22,867 | |
|
|
The average head count of employees during the year was 2 (2022: 2). The average number of full-time equivalent employees during the year is analysed as follows:
| full-time equivalent employees during the year is | analysed as follows: | |
|---|---|---|
| 2023 | 2022 | |
| No. | No. | |
| Direct charitable staff | 1 | 1 |
| Support staff | 1 | 1 |
|
|
|
| 2 | 2 | |
|
|
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
15. Trustee remuneration and expenses
One trustee has been paid remuneration or received other benefits from employment with the charity or a related entity. Mr P Stevens was paid a gross salary of £18,207 (2022 - £16,007). He also received an Employee Mileage allowance of £862 (2022 - £655). The trustees donated a total amount of £4,320 during the year to the charity (2022 - £2,784).
- 19 -
Overflow Church
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
16. Tangible fixed assets
| Plant and | Fixtures and | ||||
|---|---|---|---|---|---|
| machinery | fittings | Equipment | Total | ||
| £ | £ | £ | £ | ||
| Cost | |||||
| At 1 September 2022 and | |||||
| 31 August 2023 | 13,909 | 6,663 | 13,800 | 34,372 | |
|
|
|
|
||
| Depreciation | |||||
| At 1 September 2022 | 13,909 | 6,663 | 13,319 | 33,891 | |
| Charge for the year | – | – | 165 | 165 | |
|
|
|
|
||
| At 31 August 2023 | 13,909 | 6,663 | 13,484 | 34,056 | |
|
|
|
|
||
| Carrying amount | |||||
| At 31 August 2023 | – | – | 316 | 316 | |
|
|
|
|
||
| At 31 August 2022 | – | – | 481 | 481 | |
|
|
|
|
||
| 17. | Debtors | ||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Prepayments and accrued income | 172 | 200 | |||
| Other debtors | 302 | 303 | |||
|
|
||||
| 474 | 503 | ||||
|
|
||||
| 18. | Creditors: amounts falling due within | one year | |||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Trade creditors | 30 | 90 | |||
| Accruals and deferred income | 6,829 | 675 | |||
|
|
||||
| 6,859 | 765 | ||||
|
|
19. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £932 (2022: £722).
- 20 -
Overflow Church
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
20. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | At | ||||
| 1 | September | 31 August | |||
| 2022 | Income | Expenditure | 2023 | ||
| £ | £ | £ | £ | ||
| General funds | 6,360 | 33,609 | (34,629) | 5,340 | |
|
|
|
|
||
| At | At | ||||
| 1 | September | 31 August | |||
| 2021 | Income | Expenditure | 2022 | ||
| £ | £ | £ | £ | ||
| General funds | 8,264 | 31,680 | (33,584) | 6,360 | |
|
|
|
|
||
| Restricted funds | |||||
| At | At | ||||
| 1 | September | 31 August | |||
| 2022 | Income | Expenditure | 2023 | ||
| £ | £ | £ | £ | ||
| The Big Weekend | 3,085 | 6,097 | (6,097) | 3,085 | |
|
|
|
|
||
| At | At | ||||
| 1 | September | 31 August | |||
| 2021 | Income | Expenditure | 2022 | ||
| £ | £ | £ | £ | ||
| The Big Weekend | 3,085 | 7,992 | (7,992) | 3,085 | |
|
|
|
|
||
| 21. | Analysis of net assets between funds | ||||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2023 | |||
| £ | £ | £ | |||
| Tangible fixed assets | 316 | – | 316 | ||
| Current assets | 11,882 | 3,085 | 14,967 | ||
| Creditors less than 1 year | (6,858) | – | (6,858) | ||
|
|
|
|||
| Net assets | 5,340 | 3,085 | 8,425 | ||
|
|
|
|||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Tangible fixed assets | 481 | – | 481 | ||
| Current assets | 6,644 | 3,085 | 9,729 | ||
| Creditors less than 1 year | (765) | – | (765) | ||
|
|
|
|||
| Net assets | 6,360 | 3,085 | 9,445 | ||
|
|
|
- 21 -
Overflow Church
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
22. Financial instruments
The carrying amount for each category of financial instrument is as follows:
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Financial assets measured at fair value through income and | expenditure | |
| Financial assets measured at fair value through income and | ||
| expenditure | 14,795 | 9,529 |
|
|
|
| Financial liabilities measured at fair value through income and expenditure | ||
| Financial liabilities measured at fair value through income and | ||
| expenditure | 6,858 | 765 |
|
|
- 22 -