**REGISTERED COMPANY NUMBER: 04343888 (England and Wales) REGISTERED CHARITY NUMBER: 1090933** ## **REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ## **FOR** ## **GODFIRST CHRISTCHURCH** Paget Reid York 96 Castle Lane West Bournemouth Dorset BH9 3JU **GODFIRST CHRISTCHURCH** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ||**Page**| |---|---| |**Report of the Trustees**|1 to 10| |**Independent Examiner's Report**|11| |**Statement of Financial Activities**|12| |**Balance Sheet**|13 to 14| |**Cash Flow Statement**|15| |**Notes to the Cash Flow Statement**|16| |**Notes to the Financial Statements**|17 to 30| |**Detailed Statement of Financial Activities**|31 to 32| **GODFIRST CHRISTCHURCH** ## **REPORT OF THE TRUSTEES** ## **FOR THE YEAR ENDED 31 DECEMBER 2020** The Trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report, incorporating the directors' report, with the financial statements for the charity for the year ended 31 December 2020. The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011, the Companies Act 2006 and with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: 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) (effective January 2019) and the Financial Reporting Standard 102 'Financial Reporting Standard applicable in the UK and Republic of Ireland' and its section 1A. ## **OBJECTIVES AND ACTIVITIES A summary of the objects of the charity as set out in its governing document.** The principal activities of this charitable company is the advancement of the Christian faith in accordance with the Statement of Beliefs, in Christchurch and in such other parts of the UK or the world as the trustees from time to time think fit, and such other purposes which are exclusively charitable according to the law of England and Wales and are connected with the work of the charity. ## **Public Benefit** Throughout this report we have illustrated the impact we are having on the local and global community. We exist to benefit the wider community but a by-product of this objective is that we benefit those that join us as members, and are gathered in to the family of God, who in turn multiply the impact on the wider public. The Trustees have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission. The following information demonstrates this duty and measurement of impact as a pro-active part of managing the Charity. The elders regularly review the aims, objectives and activities of the charity and communicate this with the trustees and the wider leadership teams at least on an annual basis. The trustees have considered the Charity Commission's general guidance on public benefit and its supplementary guidance on the advancement of religion for the public benefit. We seek to further these objects by providing meetings for corporate worship, fellowship and prayer. Further fellowship and sharing opportunities come in the form of weekly home group meetings across the Christchurch area. There are specific training courses for new Christians and for various ministry skills useful in the church. Page 1 **GODFIRST CHRISTCHURCH** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020** ## **OBJECTIVES AND ACTIVITIES** **The charity's aims including the changes or differences it seeks to make through its activities:** ## **1. Reaching the Local Community for the advancement of the Christian faith** We have done this through our involvement with different age-groups and types of people. We measure this partly by the numbers of people we regularly interact with as a church community and ultimately in the numbers of these people who formally join the membership of the church. Additionally, we serve the community by showing Christ's love to the local community and to prioritise the relief of suffering, social exclusion and poverty. We work with Faithworks Wessex Community Money Advice to provide a place for those in debt who need help and advice on how to escape from financial chaos, and ALPHA courses for those in the community who want to explore the Christian faith. We measure the impact we have by the numbers of people we are making contact with, the improvement in their particular situation and feedback sheets from courses delivered by us to the community. Children and young people are a key priority for our Charity; not only those of our own members but the wider community. The impact here is harder to measure except that attendance on the weekly youth club evenings geared to non-church youth is rising, and the "Rhyme time" weekly toddlers group geared to non-church parents was over-subscribed although this group has had to be suspended during the pandemic, this will be one of the first groups that will be re-established when the building reopens ~~.~~ ## **2. Reaching the Global Community for the advancement of the Christian faith** We do this by encouraging, supporting and visiting Churches in other countries where we either have a connection or there is another link. This helps us fulfil one of our objectives, that of the advancement of the Christian faith across the globe. We help and support overseas leaders and missionaries to come to the UK to enable them to rest and provide opportunity for them to attend relevant conferences. ## **3. Membership of a wider network** Although GodFirst Christchurch is wholly independent, we are affiliated and fully subscribe to the values of a worldwide network of churches called Commission Apostolic Trust, which is part of Newfrontiers, a Charitable Limited Company. Newfrontiers is 'A Family of Churches on a Mission Together'. We are also affiliated to the Evangelical Alliance of Great Britain, which represents us at government level and provides training, support and information on ethical, legal and social issues. Additionally, we are part of the Christchurch Fellowship of Churches that seeks to provide an environment for fellowship across all Christian churches in Christchurch and enables a forum for joint projects. An example of this is the Christchurch Foodbank which works with other churches in the Christchurch area to provide essential food supplies for local families and individuals in hardship. Page 2 **GODFIRST CHRISTCHURCH** ## **REPORT OF THE TRUSTEES** ## **FOR THE YEAR ENDED 31 DECEMBER 2020** ## **ACHIEVEMENT AND PERFORMANCE A review of charitable activities undertaken by the charity during the year** A stable and strong system of leadership and a loyal and growing membership has enabled the church to continue its core activities during a year of great challenges [see COVID-19 below]. During the year, the teams of trustees and elders have worked very well together providing an exceptional working environment that is both robust and supportive of the purposes and culture of the church. Having left the Regent Centre in Christchurch High Street as our main meeting venue in 2019 and having sold Hope House, our small meeting rooms and Charity offices building, we met in various hired premises around the town. We took over occupation of 15 Airfield Road when sufficient building works were completed for GodFirst to take occupation of the ground floor and commence meetings on September 1st 2019. At the time the Highcliffe meeting was consolidated into the central meeting at Airfield Road. The building at Airfield Road came under GodFirst control in April 2018. A 2268sm facility in total with 100 car park spaces on site. The building had been used previously as a speciality manufacturing facility for the aircraft industry and required substantial works to bring the building into GodFirst use. Various contracts were let to achieve this prior to occupation. The refurbishment work is being carried out in phases and further works will be completed as funding allows. We occupy the land known as 15 Airfield Road Christchurch BH23 3TG on a leasehold basis. Christchurch Borough Council are the Freeholder. The lease is dated 06/11/1980 with a term of 123 years from 17/08/1980. And our Registered Office has been moved to this address. The ground lease expires on 17/08/2103. The lease has been assigned to GodFirst and therefore we have occupation for a term of approx. 82 years. The 'market value' rent is reviewable every 5 years and was last reviewed in August 2018. The building when fully developed will become the Hub of GodFirst and will be used as a worship centre and as a central facility for our youth and children's activities and will enable us to develop further Community activities. We are excited to see a growing number of people attend our Sunday morning services where we saw the largest number attending Airfield Road that we have seen as a church so far. For those people that have expressed a desire to become members of the church, we have equipped them to be fully functioning members of the church body through our 'New Life' and 'Get Connected' courses. We have hosted outreach activities including guest services, Alpha courses, craft evenings and home group social outreach events in various locations including Boscombe, Highcliffe and Burton to provide an opportunity to bless the community and for fellowship and to advance the Christian faith. These activities culminated in the ‘Father Heart Conference’ held in February 2020 which was the largest event hosted by GodFirst in Airfield Road and attracted some 500 delegates being both local and nationwide. We have continued to support other community activities such as the Christchurch Foodbank where we contribute monthly donations of food from the congregation, and also cash donations during the pandemic, that is then used to provide essential food supplies for local families and individuals in hardship. The Church received a legacy of just under £12,000 in 2018 and to reflect our core values, the Trustees designated this as a fund to help people either in financial hardship or who needed other assistance e.g. professional counselling, that they couldn't afford. It is now called Page 3 GodFirst Welfare Fund, and is being put to good use at meeting needs. We have supported the work of local schools in delivering assemblies during the year where possible to promote Christian beliefs and values in this context. The church has sponsored a film showing during the year at the Regent Centre to provide families with opportunities to view good children's films at a subsidised cost, whilst promoting the work of the church in a different setting. Page 3 **GODFIRST CHRISTCHURCH** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020** We have supported members of our church in serving overseas and during the year we have sent ministry leaders and other members to provide training and pastoral care to others in churches in Uganda, Croatia and Serbia that we are connected with through our wider involvement with 'Commission'. We also provide support financially to churches in India. In the summer of 2020, the gathering planned for the Royal Bath Showground at Shepton Mallet Connect Festival for approx. 4000 persons from Commission group churches was cancelled because of the COVID-19 pandemic and so did not take place. The 2021 event will have to be cancelled also for the same reason. In partnership with other churches in the Christchurch area, we continue to look for ways in which we can work with others in the area to promote the gospel. ## COVID-19 GodFirst public activities were severely impacted by the nationwide lock-downs as a result of the Covid19 pandemic. Our building had to close totally for an extended period, and our staff were directed to work from their homes. Ongoing building works had to be concluded and no further major works were commissioned during the lock-down. GodFirst transferred all meetings both public and private to digital platforms and services were transmitted as both ‘on-line’ and YouTube events or pre-recorded on video for transmission. Smaller group events including youth events, business meetings, connect group meetings, management meetings and other specialist events were carried on the ‘zoom’ platform. GodFirst carefully managed the finances during these periods, we prepared a Covid budget and incomes and expenditures were monitored closely. Steps were taken to ensure our viability continued into the future and some actions were taken to help sustain us financially, these included the use of the government furlough schemes for 2 fulltime and 1 part time member of staff at various times. We also rescheduled some regular payments and received a short interest free period on a building loan. During this period GodFirst income from donations, gifts, specific offerings and regular giving were maintained in a miraculous way mostly through both the generosity of GodFirst members and also on occasions from outside. At no time was our work impeded or stopped during this period through lack of resources. Page 4 **GODFIRST CHRISTCHURCH** ## **REPORT OF THE TRUSTEES** ## **FOR THE YEAR ENDED 31 DECEMBER 2020** ## **FINANCIAL REVIEW** We continue to be grateful for the sacrificial giving of church members. Our total income is again significantly improved on the previous year due to increases in general offering giving which totalled £367,851 (2019:£307,879), and further restricted contributions to the building fund of £126,779 (2019:£217,117). The trustees consider that the financial performance by the charity to have been satisfactory and achieved the target of delivering a nett income for 2020 of £198,376 (2019: £229,548), however this does not include expenditure on the refurbishment of 15 Airfield Road which has depleted our reserves. The Statement of Financial Activities shows total net incoming resources for the year of £515,671 (2019: £616,740) and total expenditure of £317,295 (2019: £387,192). In addition £60,173 has been spent on the redevelopment of our new premises. In all, capitalised costs for the purchase and development of 15 Airfield Road as at the balance sheet date totalled £1,989,115 (2019: £1,919,828) using mortgage finance of £770,000 which at the balance sheet date now stands at £642,901. There has been an increase in income levels again partly as a result of organic growth and more sacrificial giving. Day to day spending has been effectively controlled and has been managed well within budget during the year. The total funds at the end of the year stand at £1,520,919 [2019: £1,322,534]. ## **Reserves policy** The trustees have resolved to maintain a contingency reserve in order to manage the short term financial obligations of the charity in the event of income being curtailed. The trustees have considered a number of factors in reviewing the level of the contingency reserve required: o The current economic climate o The level of regular giving by church members and likelihood of its continuation o The requirement for working capital and contractual obligations o The ability to raise additional funds should the church face financial difficulty The trustees consider that the amount of free reserves in the Contingency Fund should be maintained at the level of three months' routine expenditure, approximately £90,000. The reserves in this category currently stand at £27,000 and will be maintained at this figure until routine expenditure is next reviewed.. It is considered very possible that ongoing building work will apply pressure on cash flows during early 2021 and if this happens the contingency reserve may have to be depleted but to no less than £27,000. Such a situation would be carefully managed and the reserve fund replenished as soon as thought expedient. The Trustees have a strategy to build these reserves over time and as conditions allow. Currently all our reserves, outside of those allocated to the contingency reserve, are allocated towards the ongoing refurbishment and development of Airfield Road. ## **Availability and adequacy of assets in each of the funds** The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund. The Trustees are aware that we do not yet have sufficient funds to hand to complete the development of Airfield Road. This was always going to be a phased development and GodFirst is actively seeking further funding through both grants and donations to enable its timely completion. Page 5 On the balance date the funds available for building works stands at £93,116 Page 5 ## **GODFIRST CHRISTCHURCH** ## **REPORT OF THE TRUSTEES** ## **FOR THE YEAR ENDED 31 DECEMBER 2020** ## **FUTURE PLANS** The vision of the charity is to extend the Christian church in Christchurch, and its environs, and to demonstrate God's love to those residing in Christchurch, the local conurbation, and throughout the world. To achieve this, we have worked to complete the acquisition of 15 Airfield Road which will also provide office accommodation for our staff and volunteers. The completion of the acquisition took place on 23 April 2018. We have a building team which is managing the refurbishment process of the new facility. Specifically, our main objectives for the coming year are: o Complete the refurbishment of 15 Airfield Road and occupy the whole of the building. o Further special gift days will be held throughout the year to increase the funds available for this objective. o Continue to develop the leadership structure of the church with special emphasis on how senior team leaders relate and communicate with the elders. o Seek further additional location opportunities to extend the multi-site vision of the church. o Facilitate the current movement of small adult groups into a more mission-orientation that reflects the culture of the church. o Seek to improve the overall enjoyment and experience of our children and young people especially on Sundays with regard to accommodation, team leadership and more cohesion between weekday and Sunday activities. o Seek to partner and collaborate with other charitable and statutory organisations to multiply our impact on the community Page 6 **GODFIRST CHRISTCHURCH** ## **REPORT OF THE TRUSTEES** ## **FOR THE YEAR ENDED 31 DECEMBER 2020** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** The charity is controlled by its governing document; the Memorandum and Articles of Association dated 20th December 2001, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. ## **Governance Arrangements** The elders of the church appoint the trustees, who remain in office for a term not exceeding three years - after which time they can offer themselves for re-election to serve in office for a further period, again reviewable every three years. The trustees are the directors of the charity and are drawn from the active members of the church with the appropriate skills for Board membership. The Elders or Spiritual Leaders of the charity are the Members of the charity. The trustees focus their attention on strategic and policy issues including key financial decisions. Operational issues are delegated to staff. Spiritual matters are overseen by the elders of the church. The trustees meet regularly with the Lead Elder to ensure that strategy and policy are consistent with the spiritual aims of the church. None of the trustees in post has any beneficial interest in the company. The elders of the church during the year were Duncan Lee, John Bament, Morne Smit, Earl Gooden and Kevin Higham.. Duncan Lee (Pastor and Lead Elder) and Morne Smit (Assistant Pastor) are employed to oversee the day-to-day management of the charity. The training of elders and trustees is considered and reviewed and the church budget includes provision for the costs of any required training to be met. Recruitment and selection of Trustees is undertaken when required to either; replace those trustees who are retiring, or to add new skills to the board. Individuals that are approached and asked to consider standing, will be subject to scrutiny under the provisions of the GodFirst Memorandum and Articles entitled 'Appointment and Retirement of Trustees' and includes provisions 31-35. All Trustees are considered to be highly experienced and skilled individuals. However, new Trustees receive an appropriate level of induction instruction and other specific training is given where deemed necessary. A distinction is made in the Governing Document between the spiritual oversight of the church and the management of assets and legal compliance but the trustees have given authority to delegate management of the charity to others as appropriate. These officers currently are: o Duncan Lee - Pastor and lead elder o Morne Smit - Assistant Pastor o Paul Cox - Operations Manager o Sam Pink - Youth work Pastor o Chris Gibbons - Accounts assistant / bookkeeper o Andrew Turnbull - Administration Assistant – left employment in October 2020 o Shirley Higham - Connect groups leader – left employment in April 2021 o Rachel Bridle – left employment in February 2021 ## **Volunteers** The church is involved in a wide range of service to the local community and internationally. This would not be possible without the voluntary efforts of a large number of the members of the church. With only six paid staff currently, the volunteers number more than 100 to achieve this. Page 7 Page 7 **GODFIRST CHRISTCHURCH** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020** ## **The major risks to which the charitable company is exposed and reviews and systems to mitigate risks** The Trustees have a duty to identify and review the risks to which the charitable company is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The major risks to which the charitable company is exposed are regularly reviewed and systems to mitigate risks are in place. It is considered that the major risks are those associated with finance, employment, property, child protection and health and safety matters. Each risk area is allocated to Trustees within the team and these risk areas are discussed at each meeting, featuring as standing items on each agenda. Several items have been enlarged / broadened in scope, for example safeguarding. Financial risk is minimised through careful budget planning and monthly monitoring of financial performance by the Trustees and management teams. Financial resources are protected through a system of internal controls. Employment matters are conducted in accordance with legislative and good practice. Appropriate insurance is maintained on our property and equipment assets, together with our public and employers liabilities. The risk around safeguarding children and vulnerable adults is covered by a Safeguarding Policy that is rigorously enforced. Health and safety across church activities is regularly monitored and generic risk assessments are reviewed covering the five areas of risk as detailed by the Charity Commission. It is considered that there are no high risks to manage at present and the medium risks have been mitigated by robust strategies that are viewed to be adequate. However, management of these risks is an ongoing task and regular reviews of risk management are conducted and specific risk assessments are drawn up in response to events as they arise e.g. trip abroad, adventure weekend for young people, community events etc. ## **Specific Risk - Note** At the balance date a worldwide pandemic of CoronaVirus COVID -19 has continued past the balance date and is still continuing. The Trustees are fully aware of the major effects and risks to both the UK and the charity that this represents and at the present time are working to a Risk Assessment devised for the current pandemic. Page 8 Page 8 **GODFIRST CHRISTCHURCH** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020** ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 04343888 (England and Wales) **Registered Charity number** 1090933 ## **Registered office** 15 Airfield Road Christchurch Dorset BH23 3TG ## **Trustees** J Bament K Hudson P Kegg A Chapman A Blick L English D R Kemp (appointed 17.2.20) - Chairman (from 26-11-2020) The directors of the charitable company are its trustees for the purpose of charity law. Those trustees who have served during the year and since the year end are shown. ## **Key management personnel** Duncan Lee (Pastor and Lead Elder) Morne Smit (Assistant Pastor) ## **Company Secretary** A Chapman ## **Independent Examiner** James Robert Paget BA(Hons) FCCA Paget Reid York 96 Castle Lane West Bournemouth Dorset BH9 3JU ## **Bankers** Lloyds TSB, 4 Castle Street, Christchurch, BH23 1DU Page 9 **GODFIRST CHRISTCHURCH** ## **REPORT OF THE TRUSTEES** ## **FOR THE YEAR ENDED 31 DECEMBER 2020** This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by order of the board of trustees on ............................................. and signed on its behalf by: ........................................................................ A Chapman - Secretary Page 10 ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GODFIRST CHRISTCHURCH** ## **Independent examiner's report to the trustees of GodFirst Christchurch ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2020. ## **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** Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of FCCA which is one of the listed bodies. 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. James Robert Paget BA(Hons) FCCA Paget Reid York 96 Castle Lane West Bournemouth Dorset BH9 3JU Date: ............................................. Page 11 ## **GODFIRST CHRISTCHURCH** ## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2020** |Unrestricted
Restricted
funds
funds
Notes
£
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
3
367,851
126,779
**Charitable activities**
5
Church work
3,977
610
Investment income
4
11
-
Other income
6
16,443
-
**Total**
388,282
127,389
**EXPENDITURE ON**
**Charitable activities**
7
Church work
316,565
730
317,295
387,192
**NET INCOME**
71,717
126,659
198,376
229,548
**Transfers between funds**
21
39,612
(39,612)
**Net movement in funds**
111,329
87,047
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
1,316,465
6,069
1,322,534
1,092,986|31.12.20
Total
funds
£
494,630
4,587
11
16,443
515,671
-
198,376|31.12.19
Total
funds
£
592,936
23,528
276
-
616,740
-
229,548| |---|---|---| The notes form part of these financial statements Page 12 ## **TOTAL FUNDS CARRIED FORWARD** 1,427,794 93,116 1,520,910 1,322,534 The notes form part of these financial statements Page 12 ## **GODFIRST CHRISTCHURCH** ## **BALANCE SHEET** ## **31 DECEMBER 2020** ||||||||31.12.20||31.12.19| |---|---|---|---|---|---|---|---|---|---| |||Unrestricted|||||||| |||||Restricted|||Total||Total| ||||funds||funds||funds||funds| ||Notes||£||£||£||£| |**FIXED ASSETS**|||||||||| |Tangible assets|15|1,989,270|||-|1,989,270||1,920,247|| |**CURRENT ASSETS**|||||||||| |Debtors|16||9,650||-||9,650||6,649| |Cash at bank and in hand|17||80,586||93,258||173,844||79,733| ||||90,236||93,258||183,494||86,382| ## **CREDITORS** Amounts falling due within one year 18 (25,618) (142) (25,760) (39,593) ## **NET CURRENT ASSETS** 64,618 93,116 157,734 46,789 **TOTAL ASSETS LESS CURRENT LIABILITIES** 2,053,888 93,116 2,147,004 1,967,036 ## **CREDITORS** Amounts falling due after more than one year 19 (626,094) - The notes form part of these financial statements continued... Page 13 (626,094) (644,502) ## **NET ASSETS** 1,427,794 93,116 1,520,910 1,322,534 ## **FUNDS** |21|||| |---|---|---|---| ||Unrestricted funds:||| ||General fund|1,391,314|1,266,150| ||Contingency reserve|27,000|40,000| ||Staf sabbatical reserve fund|4,496|2,936| ||Welfare fund|4,984|7,379| |||1,427,794|| |||1,316,465|| Restricted funds: Building fund 90,616 6,069 Community Pastor fund 2,500 - 93,116 6,069 **TOTAL FUNDS** 1,520,910 The notes form part of these financial statements continued... Page 13 1,322,534 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020. The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006. The notes form part of these financial statements continued... Page 13 **GODFIRST CHRISTCHURCH** ## **BALANCE SHEET - continued** ## **31 DECEMBER 2020** - The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: ............................................. J Bament - Trustee ............................................. A Blick - Trustee The notes form part of these financial statements Page 14 ## **GODFIRST CHRISTCHURCH** ## **CASH FLOW STATEMENT** ## **FOR THE YEAR ENDED 31 DECEMBER 2020** ||31.12.20|31.12.19| |---|---|---| |Notes|£|£| |**Cash fows from operating activities**||| |Cash generated from operations
1|198,099|219,632| |Net cash provided by operating activities|198,099|219,632| |**Cash fows from investing activities**||| |Purchase of tangible fxed assets|(89,848)|(627,473)| |Interest received|11|276| |Net cash used in investing activities|(89,837)|(627,197)| |**Cash fows from fnancing activities**||| |Loan repayments in year|(12,101)|(9,998)| |Staf loans|(2,050)|-| Net cash used in financing activities (14,151) (9,998) ## **Change in cash and cash equivalents in the reporting period** 94,111 (417,563) **Cash and cash equivalents at the beginning of the reporting period** 79,733 497,296 The notes form part of these financial statements Page 15 **Cash and cash equivalents at the end of the reporting period** 173,844 79,733 The notes form part of these financial statements Page 15 ## **GODFIRST CHRISTCHURCH** ## **NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2020** ## **1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES** |**OPERATING ACTIVITIES**|||||| |---|---|---|---|---|---| |||31.12.20||31.12.19|| ||||£||£| |**Net income for the reporting period (as per the**|||||| |**Statement of Financial Activities)**|||198,376||229,548| |**Adjustments for:**|||||| |Depreciation charges|||264||946| |Interest received|||(11)||(276)| |(Increase)/decrease in debtors|||(951)||3,060| |Increase/(decrease) in creditors|||421||(13,646)| |**Net cash provided by operations**|||198,099||219,632| |**ANALYSIS OF CHANGES IN NET DEBT**|||||| |At|1.1.20|Cash fow||At|31.12.20| ||£||£||£| |**Net cash**|||||| |Cash at bank and in hand|79,733||94,111||173,844| ||79,733||94,111||173,844| |**Debt**|||||| |Debts falling due within 1 year|(10,500)||(6,307)||(16,807)| |Debts falling due after 1 year|(644,502)||18,408||(626,094)| ||(655,002)||12,101||(642,901)| |**Total**|(575,269)||106,212||(469,057)| 2. **ANALYSIS OF CHANGES IN NET DEBT** The notes form part of these financial statements Page 16 **GODFIRST CHRISTCHURCH** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ## **1. STATUTORY INFORMATION** The charity is controlled by its governing document, the Memorandum and Articles of Association dated 20th December 2001, and constitutes a private limited company (England & Wales), limited by guarantee, as defined by the Companies Act 2006. The nature of the charitable company’s ~~'~~ operations and its principle activities are noted in the Trustees Report. The charitable company's registered office is its place of business. ## **2. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: 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) (effective January 2019), Financial Reporting Standard 102 'Financial Reporting Standard applicable in the UK and Republic of Ireland' & its Section 1A and the Companies Act 2006. The financial statements have been prepared under the historical cost convention with the exception of investments which are included at market value. The presentation currency of the financial statements is pound sterling (£). ## **Income recognition** Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably. Income from grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. ## **Donated services and facilities** Donated services or facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. On receipt, donated services and facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. The time of volunteers is not recognised, refer to the trustees' annual report for more information about their contribution ## **Interest receivable** Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank. continued... Page 17 Page 17 continued... **GODFIRST CHRISTCHURCH** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **2. ACCOUNTING POLICIES - continued** ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel and payroll etc which supports the church' activities. All support costs are deemed to relate to the charitable activity of the church. Governance costs are those support costs incurred to meet the statutory and constitutional requirements of the charitable company. The charity classifies the lease of property and photocopying equipment as operating leases; the title to the equipment remains with the lessor. Rental charges are charged on a straight line basis over term of the lease. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold property 2% on cost (excluding land value) Fixtures, fittings and equipment between 3 - 8 years on cost Computer equipment between 3 - 5 years on cost Assets with a value of less than £500 are not capitalised. Freehold property is shown at cost less depreciation. No depreciation has been provided on leasehold property as it remains under construction. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds are donations and other income received or generated for the objects of the charitable company without further specified purpose which can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charitable company. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Designated funds are unrestricted funds which have been earmarked for a particular purpose, within the objects of the charitable company, by the Trustees. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Pension costs and other post-retirement benefits** continued... Page 18 The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. The charitable company operates a Workplace Pension scheme administered by National Employment Savings Trust [N.E.S.T.]. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Some staff opt-out of the Workplace Pension scheme but the charitable company still makes contractual employer- contributions to these staff members' private pension schemes. continued... Page 18 **GODFIRST CHRISTCHURCH** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **2. ACCOUNTING POLICIES - continued** ## **Debtors** Trade and other debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid after taking account of any discounts due. ## **Cash at bank and in hand** Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of four months or less from the date of acquisition or opening of the deposit or similar account. ## **Creditors and provisions** Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any discounts due. ## **3. DONATIONS AND LEGACIES** |General ofering
Special ofering - Building
Fund
Gifts and donations
Gift Aid recovery
Grants
Legacies|Unrestricted Funds
Restrict
ed
31.12.2
0
General
Designat
ed
Funds
£
£
£
£
311,312
-
-
311,312
-
-
104,162
104,162
-
-
2,620
2,620
56,539
-
15,747
72,286
367,851
-
122,529
490,380
517,936
-
-
4,250
4,250
-
-
-
-
367,851
-
126,779
494,630
592,936|31.12.
19
£
307,879
142,117
620
67,320
75,000
-| |---|---|---| There were no donated goods and/or services in the year. The church is involved in a wide range of service to the local community and internationally. This would not be possible without the voluntary efforts of a large number of the members of the church. With only 7 paid staff at the balance sheet date, the volunteers number more than 100 to achieve this. The monetary value of the time of volunteers is not recognised. ## **4. INVESTMENT INCOME** |Unrestricted Funds|Unrestricted Funds|Restrict|31.12.2|31.12.| |---|---|---|---|---| |||ed|0|19| |General|Designat|Funds||| ||ed|||| |£|£|£|£|£| |Page|19|||continued.| continued... Bank deposit interest 11 11 276 - - continued... Page 19 ## **GODFIRST CHRISTCHURCH** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **5. INCOME FROM CHARITABLE ACTIVITIES** |Youth & Children
Events
Car park rental income
Scrap metal sales
**6.**
**OTHER INCOME**
Job Retention Grants|Unrestricted Funds
Restrict
ed
General
Designat
ed
Funds
£
£
£
1,888
-
-
1,038
-
610
1,051
-
-
-
3,977
-
610
23,528
Unrestricted Funds
Restrict
ed
General
Designat
ed
Funds
£
£
£
16,443
-
-|31.12.2
0
£
1,888
1,648
1,051
-
4,587
31.12.2
0
£
16,443|31.12.
19
£
8,691
10,410
2,933
1,494
31.12.
19
£
-| |---|---|---|---| **7. CHARITABLE ACTIVITIES COSTS** |Direct costs
(note 8)
Grants
payable
(note 9)
Support costs
(note 10)|Unrestricted Funds
Restrict
ed
General
Designat
ed
Funds
£
£
£
9,930
-
-
22,530
2,395
730
281,710
-
-
314,170
2,395
730
387,192|31.12.2
0
£
9,930
25,655
281,710
317,295|31.12.
19
£
56,363
26,798
304,031| |---|---|---|---| ## **8. DIRECT COSTS OF CHARITABLE ACTIVITIES** ||Unrestricted Funds|Unrestricted Funds|Restrict|31.12.2|31.12.| |---|---|---|---|---|---| ||||ed|0|19| ||General|Designat|Funds||| |||ed|||| ||£|£|£|£|£| |Children's work|216|-|-|216|1,299| |Youth work|3,476|-|-|3,476|14,773| |Events|6,238|-|-|6,238|40,291| continued... Page 20 9.930 9.930 56.363 Page 20 continued... **GODFIRST CHRISTCHURCH** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **9. GRANTS PAYABLE** |Institutions
Commission Apostolic Trust
Ltd
DISHA India
Serbia - Feeding
Programme
Uganda - An African Dream
Christchurch Food Bank
PACE Trust
Water Lily Project
Alpha
Faithworks - Money Matters
Compassion
Other
Individuals|Unrestricted Funds
Restrict
ed
General
Designa
te d
Funds
£
£
£
16,200
-
-
2,015
-
-
1,515
-
-
-
-
-
250
-
-
600
-
-
500
-
-
-
-
-
250
-
-
-
-
300
-
1,030
-
21,330
1,030
300
22,766
1,200
1,365
430
22,530
2,395
730
26,798|31.12.2
0
£
16,200
2,015
1,515
-
250
600
500
-
250
300
1,030
22,660
2,995
25,655|31.12.
19
£
16,200
2,000
1,515
1,000
250
600
500
420
250
31
4,032| |---|---|---|---| **Commission ATL** - although an autonomous organisation, we are affiliated to the group of churches and support the domestic and global work of this charitable company. We pay a voluntary amount each month to assist in the operating cost of this charity. **DISHA** - supporting vulnerable people in India. **Water Lily Project** - a christian charity supporting local women in Christchurch. **Serbia grant -** feeding programme for a poor shelter. **Uganda** - to support an orphanage and school **PACE -** salary support for a part time schools worker. **Alpha** - outreach course **Faithworks** - debt counselling **Other** - Small grants made in accordance with our stated objects. continued... Page 21 **GODFIRST CHRISTCHURCH** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **10. SUPPORT COSTS** |Salaries
Social security
Redundancy
Pension
Elders, staf & volunteers
expenses
Training
Ofice expenses
Ground rent & hire of
premises
Light, heat and water
Insurances
Cleaning
Repairs and maintenance
Computer and related costs
Licenses
Publicity
Professional fees
Other expenses
Depreciation
Governance
Independent examiner fee
Annual return fee|Unrestricted Funds
Restrict
ed
General
Designat
ed
Funds
£
£
£
192,213
-
-
13,270
-
-
1,831
-
-
9,614
-
-
4,596
-
-
1,943
-
-
223,467
-
-
243,770
4,039
-
-
34,500
-
-
2,502
-
-
3,691
-
-
2,577
-
-
3,056
-
-
2,263
-
-
1,215
-
-
266
-
-
243
-
-
2,174
-
-
264
-
-
56,790
-
-
58,821
1,440
-
-
13
-
-
1,453
-
-
1,440
281,710
-
-
304,031|31.12.2
0
£
192.213
13,270
1,831
9,614
4,596
1,943
223,467
4,039
34,500
2,502
3,691
2,577
3,056
2,263
1,215
266
243
2,174
264
56,790
1,440
13
1,453
281,710|31.12.
19
£
200,579
14,679
-
10,029
8,414
10,069
6,062
34,500
1,670
4,323
2,263
1,846
3,091
877
148
528
2,567
946
1,440
-| |---|---|---|---| Support costs relating to non charitable activity costs are deemed to be immaterial. Mortgage interest and fees of £29,675 (2019:£31,428) were capitalised in the year due to the ongoing construction at 15 Airfield Road, Christchurch. continued... Page 22 Page 22 continued... **GODFIRST CHRISTCHURCH** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **11. NET INCOME/(EXPENDITURE)** Net income/(expenditure) is stated after charging/(crediting): ||31.12.20|31.12.19| |---|---|---| ||£|£| |Depreciation - owned assets|264|946| ## **12. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019. ## **Trustees' expenses** Expenses of £56 (2019: £6,821) were reimbursed to 2 Trustees (2019: 3) for property build costs, travel & other expenses. ## **13. STAFF COSTS** |Salaries
Social security
Redundancy
Employer pension
contributions|Unrestricted Funds
Restrict
ed
General
Designat
ed
Funds
£
£
£
192,213
-
-
13,270
-
-
1,831
-
-
9,614
-
-
216,928
-
-
225,287|31.12.2
0
£
192,213
13,270
1,831
9,614
216,928|31.12.
19
£
200,579
14,679
-
10,029| |---|---|---|---| Average monthly number of staff was 8 (2019: 9). No employee received benefits of more than £60,000. Key management personnel gross salaries totalled £85,805 (2019: £82,769) and employers pensions £4,293 (2019: £4,139). Pension contributions were paid to 8 (2019: 9) staff under a defined contribution scheme. There were £1,957 (2019:£1,561) of accrued pension costs at the balance sheet date. continued... Page 23 ## **GODFIRST CHRISTCHURCH** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** |**14.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
Restricted
funds
funds
£
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
369,750
223,186
**Charitable activities**
Church work
23,528
-
Investment income
276
-
**Total**
393,554
223,186
**EXPENDITURE ON**
**Charitable activities**
Church work
386,447
745
387,192
**NET INCOME**
7,107
222,441
229,548
**Transfers between funds**
222,636
(222,636)
**Net movement in funds**
229,743
(195)
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
1,086,722
6,264
1,092,986|Total
funds
£
592,936
23,528
276
616,740
-
229,548| |---|---| continued... Page 24 ## **TOTAL FUNDS CARRIED FORWARD** 1,316,465 6,069 1,322,534 continued... Page 24 **GODFIRST CHRISTCHURCH** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **15. TANGIBLE FIXED ASSETS** |**COST**
At 1 January 2020
Additions
At 31 December 2020
**DEPRECIATION**
At 1 January 2020
Charge for year
At 31 December 2020
**NET BOOK VALUE**
At 31 December 2020
At 31 December 2019|Long
leasehold
£
1,919,828
69,287
1,989,115
-
-
-
1,989,115
1,919,828|Fixtures
and
fttings
£
64,356
-
64,356
63,937
264
64,201
155
419|Totals
£
1,984,184
69,287
2,053,471
63,937
264
64,201
1,989,270
1,920,247| |---|---|---|---| Capitalised leasehold purchase and improvement costs for 15 Airfield Road include mortgage interest and fees of £87,982 (2019:£58,307) as construction is still ongoing on the site, depreciation will be provided upon completion of the premises. ## **16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Debtors
Prepayments and accrued
income
Other debtors|Unrestricted Funds
Restrict
ed
General
Designat
ed
Funds
£
£
£
4,350
-
-
3,250
-
-
2,050
-
-
9,650
-
-
6,649|31.12.2
0
£
4,350
3,250
2,050
9,650|31.12.
19
£
5,181
1,468
-| |---|---|---|---| ## **17. CASH AT BANK AND IN HAND** |Bank
Cash|Unrestricted Funds
Restrict
ed
31.12.2
0
General
Designat
ed
Funds
£
£
£
£
44,081
36,480
93,258
173,819
25
-
-
25
44,106
36,480
93,258
173,844
79,733|31.12.
19
£
79,708
25| |---|---|---| continued... Page 25 Page 25 continued... ## **GODFIRST CHRISTCHURCH** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |||Unrestricted|Unrestricted|Funds|Restrict|31.12.2|31.12.| |---|---|---|---|---|---|---|---| ||||||ed|0|19| |||General|Designat||Funds||| |||||ed|||| |||£||£|£|£|£| ||Creditors|209||-|-|209|999| ||Other taxes and social|3,985||-|-|3,985|4,270| ||security||||||| ||Mortgage on 15 Airfeld|16,807||-|-|16,807|10,500| ||Road||||||| ||Accrued expenses|4,617||-|142|4,759|23,824| |||25,618||-|142|25,760|| |||||39,593|||| |**19.**|**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**||||||| |||||||31.12.20|31.12.19| |||||||£|£| ||Bank loans (see note 20)|||||626,094|644,502| |**20.**|**LOANS**||||||| ||An analysis of the maturity of loans is given below:||||||| |||||||31.12.20|31.12.19| |||||||£|£| ||Amounts falling due within one|year on demand:|||||| ||Bank loans|||||16,807|10,500| ||Amounts falling due between two and fve years:||||||| ||Bank loans - 2-5 years|||||69,000|67,000| ||Amounts falling due in more than fve years:||||||| ||Repayable by instalments:||||||| ||Bank loans more 5 yr by instal|||||557,094|577,502| The charity completed on the purchase of 15 Airfield Road, Christchurch on 23 April 2018, at a cost of £1.1m plus fees, partly financed by two mortgage loans totalling £770,000 on an interest-only basis for the first 12 months to 23.04.2019 as follows: 1) £385,000 over 25 years fixed for 12 years 6 months @5.42%, secured against 15 Airfield Road Christchurch, (£371,431 outstanding at the balance sheet date), and 2) £385,000 over 25 years at 3.1% above the Bank of England base rate, secured against 15 Airfield Road. (£271,469 outstanding at the balance sheet date) continued... Page 26 ## **GODFIRST CHRISTCHURCH** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **21. MOVEMENT IN FUNDS** |**Unrestricted funds**
General fund
Contingency reserve
Staf sabbatical reserve fund
Welfare fund|Net
Transfers
movement
between
At
At 1.1.20
in funds
funds
31.12.20
£
£
£
£
1,266,150
74,112
51,052
1,391,314
40,000
-
(13,000)
27,000
2,936
-
1,560
4,496
7,379
(2,395)
-
4,984
1,316,465
71,717
39,612 1,427,794| |---|---| ## **Restricted funds** Building fund 6,069 124,159 (39,612) 90,616 Community Pastor fund - 2,500 - 2,500 6,069 126,659 (39,612) 93,116 ## **TOTAL FUNDS** 1,322,534 198,376 - 1,520,910 continued... Page 27 Net movement in funds, included in the above are as follows: ||Incoming|Resources|Movement|Movement| |---|---|---|---|---| ||resources|expended||in funds| ||£|£||£| |**Unrestricted funds**||||| |General fund|388,282|(314,170)||74,112| |Welfare fund|-|(2,395)||(2,395)| ||388,282|(316,565)||71,717| ## **Restricted funds** Building fund 124,159 - 124,159 Restricted gifts 730 (730) - Community Pastor fund 2,500 - 2,500 127,389 (730) 126,659 **TOTAL FUNDS** 515,671 (317,295) 198,376 continued... Page 27 Page 27 continued... **GODFIRST CHRISTCHURCH** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **21. MOVEMENT IN FUNDS - continued** ## **Comparatives for movement in funds** |**Unrestricted funds**
General fund
Contingency reserve
Building Fund
Staf sabbatical reserve fund
Academy for Supernatural
Transformation
Welfare fund|Net
Transfers
movement
between
At
At 1.1.19
in funds
funds
31.12.19
£
£
£
£
840,701
9,210
416,239
1,266,150
100,598
243
(60,841)
40,000
126,000
1,494
(127,494)
-
1,377
-
1,559
2,936
7,980
(1,153)
(6,827)
-
10,066
(2,687)
-
7,379
1,086,722
7,107
222,636 1,316,465| |---|---| ## **Restricted funds** Building fund 6,262 222,441 (222,634) 6,069 Restricted gifts 2 - (2) - 6,264 222,441 (222,636) 6,069 **TOTAL FUNDS** 1,092,986 229,548 continued... Page 28 - 1,322,534 Comparative net movement in funds, included in the above are as follows: ||Incoming|Resources|Movement|Movement| |---|---|---|---|---| ||resources|expended||in funds| ||£|£||£| |**Unrestricted funds**||||| |General fund|383,562|(374,352)||9,210| |Contingency reserve|243|-||243| |Building Fund|1,494|-||1,494| |Academy for Supernatural Transformation|8,255|(9,408)||(1,153)| |Welfare fund|-|(2,687)||(2,687)| ||393,554|(386,447)||7,107| ## **Restricted funds** Building fund 222,441 - 222,441 Restricted gifts 745 (745) - 223,186 (745) 222,441 **TOTAL FUNDS** 616,740 (387,192) 229,548 continued... Page 28 Page 28 continued... **GODFIRST CHRISTCHURCH** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **21. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
Contingency reserve
Building Fund
Staf sabbatical reserve fund
Academy for Supernatural
Transformation
Welfare fund|Net
Transfers
movement
between
At
At 1.1.19
in funds
funds
31.12.20
£
£
£
£
840,701
83,322
467,291
1,391,314
100,598
243
(73,841)
27,000
126,000
1,494
(127,494)
-
1,377
-
3,119
4,496
7,980
(1,153)
(6,827)
-
10,066
(5,082)
-
4,984
1,086,722
78,824
262,248 1,427,794| |---|---| ## **Restricted funds** Building fund 6,262 346,600 (262,246) 90,616 Restricted gifts 2 - ## (2) - Community Pastor fund - 2,500 - 2,500 6,264 349,100 (262,248) 93,116 continued... Page 29 **TOTAL FUNDS** 1,092,986 427,924 - 1,520,910 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: ||Incoming|Resources|Movement|Movement| |---|---|---|---|---| ||resources|expended||in funds| ||£|£||£| |**Unrestricted funds**||||| |General fund|771,844|(688,522)||83,322| |Contingency reserve|243|-||243| |Building Fund|1,494|-||1,494| |Academy for Supernatural Transformation|8,255|(9,408)||(1,153)| |Welfare fund|-|(5,082)||(5,082)| ||781,836|(703,012)||78,824| |**Restricted funds**||||| Building fund 346,600 - 346,600 Restricted gifts 1,475 (1,475) - Community Pastor fund 2,500 - 2,500 350,575 (1,475) 349,100 continued... Page 29 **TOTAL FUNDS** 1,132,411 (704,487) 427,924 continued... Page 29 **GODFIRST CHRISTCHURCH** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **21. MOVEMENT IN FUNDS - continued** **Contingency Reserve Fund** - contingency reserve in line with our Reserves Policy, see Report to Accounts. **Building Fund** - for conversion of current premises to a church and for community use. **Staff Sabbatical Fund** - to give pastoral staff a sabbatical every 7 years. **Academy for Supernatural Transformation** - This is a separate fund containing both the income and expenditure for an ongoing annual education course which is open for applications from both ~~GodfrstG~~ odFirst and other church members. **Welfare Fund** - Legacy supplied for welfare of needy in the local community. Fund totals by assets are shown in the note to the accounts. ## **Restricted fund transfers** The £39,612 (2019: £22,634) transfer represents capitalised building and equipment costs of the redevelopment of 15 Airfield Road, these funds become unrestricted when expended. ## **22. OTHER FINANCIAL COMMITMENTS** Annual operating lease commitments |Expiring:
Between one and fve years|31.12.20
31.12.19
£
£
4,768
4,768| |---|---| In addition annual ground rent of £34,500 is payable on 15 Airfield Road over its remaining 85 year lease (from 2018) term, reviewed every 5 years. ## **23. RELATED PARTY DISCLOSURES** Donations received from Trustees in the year totalled £40,464 (2019: £31,870). ## **24. ULTIMATE CONTROLLING PARTY** The charitable company is controlled by the Trustees. Page 30 ## **GODFIRST CHRISTCHURCH** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020** ||31.12.20|31.12.19|31.12.19| |---|---|---|---| ||£||£| |**INCOME AND ENDOWMENTS**|||| |**Donations and legacies**|||| |Donations|494,630||592,936| |**Investment income**|||| |Deposit account interest|11||276| |**Charitable activities**|||| |Children and Youth|1,888||8,691| |Events|1,648||10,410| |Other|1,051||4,427| ||4,587||23,528| |**Other income**|||| |Exceptional items|16,443||-| |**Total incoming resources**|515,671||616,740| |**EXPENDITURE**|||| |**Charitable activities**|||| |Children's work|216||1,299| |Youth work|3,476||14,773| |Events|6,238||40,291| |Grants to institutions|22,660||22,766| |Grants to individuals|2,995||4,032| ||35,585||83,161| |**Support costs**|||| |**Management**|||| |Wages|194,044||200,579| |Social security|13,270||14,679| |Pensions|9,614||10,029| |Elders, staf & volun expenses|4,596||8,414| |Training|1,943||10,069| |Ofice expenses|4,039||6,062| |Hire of premises|34,500||34,500| |Light, heat and water|2,502||1,670| |Insurances|3,691||4,323| |Cleaning|2,577||2,263| |Repairs and maintenance|3,056||1,846| |Computer and related costs|2,263||3,091| |Licenses|1,215||877| |Publicity|266||148| |Professional fees|243||528| |Carried forward|277,819||299,078| This page does not form part of the statutory financial statements Page 31 ## **GODFIRST CHRISTCHURCH** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020** ||31.12.20|31.12.19|31.12.19| |---|---|---|---| ||£||£| |**Management**|||| |Brought forward|277,819||299,078| |Other expenses|2,174||2,567| |Fixtures and fttings|264||946| ||280,257||302,591| |**Governance costs**|||| |Independent examiner fee|1,453||1,440| |Total resources expended|317,295||387,192| |**Net income**|198,376||229,548| This page does not form part of the statutory financial statements Page 32