## |**Directors/Trustees**
Karen Lyon|Stuart Britton (resigned 20 June 2022)|Christine Goodban|Stephen Myerscough (resigned 13 September 2021)|Ulrike Skinner (appointed 13 September 2021)|Peyman Bandar (appointed 13 September 2021)|Chris James (resigned 13 September 2021)|Garry Bateman (appointed 27 August 2022)|**Key Staff**
Rodney Haggar|Joel Tostevin|Peter Saner|**Governing Document**
Memorandum and Articles of Association|**Charity Registration Number**
1096530|**Company Registration Number**
04664258|**Registered Office**
44 Guildbourne Centre|Worthing|BN11 1LZ|**Independent Examiner**
Archie McDowall|Stewardship|1 Lamb's Passage|London|EC1Y 8AB|**Bankers**
Cafbank Ltd|West Malling|**Contents**
**Page**|Charity Information
1|Trustees' Annual Report
2-7|Independent Examiner's Report
8|Statement of Financial Activities
9|Balance Sheet
10|Notes to the Accounts
11-19|Detailed Statement of Financial Activities with Comparatives
20| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |Resources Expenditure|Total resources expended for the year increased from £366,386 in 2021 to £404,670. In addition the|church spent £876,242 on the Church’s new home in the Guildbourne Centre in 2021|Funds and Balance Sheet|The movement in total funds for the year is a net decrease of £16,660 due to final expenses on finishing|the Guildbourne Centre building project. At the year-end total funds were £895,935, £805,836|represents fixed assets. Net current assets were £205,098, of which £120,774 are General funds being|unrestricted and designated. This balance is in line with the Church’s reserves policy.|PLANS FOR THE COMING YEAR|The key objectives to be addressed during the coming year (2021-22) are:|�
To preach the good news of Jesus in a way that is clear and contextually relevant.|�
To be a blessing to our town through various community projects.|�
To grow as a church family, in number and in our discipleship - looking at the culture that we|want to model here.|�
To continue to build relationships with other churches locally and also in the nations,|including sending team(s) on short term mission trips.|GOVERNANCE AND DIRECTORS|The following changes occurred during the year ending 31 August 2022.|�
Stephen Myerscough resigned as a Director on 13thSeptember 202�|�
Christopher James resigned as a Director on 13thSeptember 202�|�
Peyman Bandar was appointed a Director on 13thSeptember 202�|�
Ulrike Skinner was appointed a Director on 13thSeptember 202�|�
Stuart Britton resigned as Director and Chair of Trustees on 20thJune 2022|�
Karen (Carrie) Lyon was appointed Chair of Trustees on 20thJune 2022|�
Garry Bateman was appointed a Director on 27thAugust 2022|The directors are regarded as the trustees of the charity for the purpose of the Charities Act 2011.|The board of directors, who meet at least four times a year, are responsible in law for implementing the|strategic decisions and direction given by the Eldership/Directional Team of the Church. Directors are|appointed by the Members at the Annual General Meeting. The Directors may also appoint a director|to serve until the next Annual General Meeting, at which time they would cease to hold office but would|be eligible for election.|The Directors monitor finance, risk management and internal control.|The directors delegate the running of the charity to the Eldership/Directional Team of the Church as|listed previously. The Eldership/Directional Team oversees the achievement of the objectives of the|charity, day-to-day operational decisions and the co-ordination and direction of the church’s work.|Progress is monitored regularly by the directors.|The directors are members of the church and bring experience and expertise in business, accounting,|public sector, charity sector and law. Training is provided to board members as required.|Directors’ responsibilities|The directors (who are also Trustees of the Church) are responsible for preparing the Director’s Report|and financial statements in accordance with applicable law and United Kingdom Accounting Standards|(United Kingdom Generally Accepted Accounting Practice).|Company Law requires the Directors (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| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |**INDEPENDENT EXAMINER'S REPORT**|**TO THE TRUSTEES OF**|**REDEEMER WORTHING LTD**|**('the Company')**|I report to the charity trustees on my examination of the accounts of the Company for the year ended 31|August 2022 on pages 9 to 20 following, which have been prepared on the basis of the accounting|policies set out on pages 11 to 12.|**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 the Company’s gross income exceeded £250,000 your examiner must be a member of a body|listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I|am a member of The Institute of Chartered Accountants of Scotland, 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.|��|Archie McDowall, BA CA|Institute of Chartered Accountants of Scotland|Stewardship|1 Lamb's Passage|London|EC1Y 8AB|Date:��| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |**STATEMENT OF FINANCIAL ACTIVITIES**|**INCLUDING INCOME AND EXPENDITURE ACCOUNT**|**FOR THE YEAR ENDED 31 AUGUST 2022**|Total
Total|Unrestricted
Restricted
Funds
Funds|Funds
Funds
2022
2021|Note
£
£
£
£|**INCOME AND ENDOWMENTS FROM:**|Donations and legacies
3
254,284
57,579
311,863
549,821|Investments
4
37,822
-
37,822
54|Other income
5
37,917
408
38,326
1,055|**Total income and endowments**
330,023
57,987
388,011
550,930|**EXPENDITURE ON:**|Charitable activities
6
340,274
64,397
404,670
366,386|**Total expenditure**
340,274
64,397
404,670
366,386|**Net gains/(losses) on investments**
-
-
-
-|**Net income/(expenditure)**
(10,251)
(6,409)
(16,660)
184,544|**Transfers between funds**
15
(376)
376
-
-|**Net movement in funds**
(10,627)
(6,033)
(16,660)
184,544|**Reconciliation of funds:**|Total funds brought forward
822,238
90,357
912,595
728,051|**Total funds carried forward**
15
811,611
84,324
895,935
912,595|The statement of financial activities includes all gains and losses recognised in the year.|All income and expenditure derive from continuing operations.|The statement of financial activities also complies with the requirements for an income and expenditure account|required by the Companies Act 2006.|The notes on page 11-19 form part of these accounts.| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |Total
Total|Unrestricted
Restricted
Funds
Funds|Funds
Funds
2022
2021|Note
£
£
£
£|**FIXED ASSETS**|Tangible assets
8
805,836
-
805,836
830,861|Investments
9
1
-
1
1|805,837
-
805,837
830,862|**CURRENT ASSETS**|Stock
10
-
4,348
4,348
4,916|Debtors
11
40,784
-
40,784
20,319|Cash at bank and in hand
12
92,274
79,976
172,250
262,619|133,058
84,324
217,382
287,855|**CREDITORS: Amounts falling**|**due within one year**
13
(12,284)
-
(12,284)
(91,122)|**Net current assets / (liabilities)**
120,774
84,324
205,098
196,733||**Total assets less current liabilities**
926,611
84,324
1,010,935
1,027,595|**CREDITORS: Amounts falling due**
14
(115,000)
-
(115,000)
(115,000)|**after more than one year**|**TOTAL NET ASSETS**
811,611
84,324
895,935
912,595|**FUND BALANCES**
15|Unrestricted Funds|General funds
760,858
-
760,858
767,796|Designated funds
50,752
-
50,752
54,442|811,611
-
811,611
822,237|Restricted Funds
-
84,324
84,324
90,357|811,611
84,324
895,935
912,595|The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended|31 August 2022.|The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022|in accordance with Section 476 of the Companies Act 2006 however, in accordance with Section 145 of the Charities Act|2011, the accounts have been examined by an independent examiner and their report has been included in these financial|statements.|The directors (who are the charitable company's trustees for the purposes of charity law) acknowledge their responsibilities|for:|(a) ensuring that the charitable company keeps accounting records which 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 net income or expenditure 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.|The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating|to small companies.|The financial statements were approved by the Board of Trustees and were signed on its behalf by:|Date��
_______________________________________
��|Name:��|Charity number:
Company Number
04664258
1096530|The notes on page 11-19 form part of these accounts.|Page 10| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ## ## |Fund accounting|Fund accounting|General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general|objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular|purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they|include donations received from appeals for specific activities or projects.
The nature of the restriction determines whether the|endowments represent permanent endowments or expendable endowments.|Tangible fixed assets|Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated|items, is more than £1,000 and the item is expected to benefit the charity over more than one accounting period. Depreciation is|charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected|useful economic life. To achieve this objective the following rates of depreciation are charged:|Equipment
Over 3 to 10 years|Furniture
20 years|Fit-Out costs
20 years|The carrying values of tangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate|that the carrying value may not be recoverable.|Investments||Fixed asset investments are held to generate income and for their investment potential. Investments are valued as follows:|i)
Listed investments are valued at their market value (fair value) at the balance sheet date.|ii)
Unlisted investments are measured at cost less impairment where it becomes apparent that the amount that could be realised is|less than cost.|Impairment losses and losses arising on the disposal of social investments are included in the Statement of Financial Activities under|the heading 'Expenditure on charitable activities'. Gains arising on the disposal of social investments are included in the Statement of|Financial Activities under the heading 'Other income'. All other gains and losses on investment assets are included in the Statement|of Financial Activities under the heading 'Net gains / (losses) on investments'.|Stocks||Stocks of donated items held for distribution to beneficiaries are measured at fair value; stocks of goods donated for the charity's own|use are valued at an estimate of their value to the charity.|Pension scheme arrangements|The charity operates defined contribution pension schemes for its employees. Obligations for contributions to these schemes are|recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in|independently administered funds.|Taxation||The charity has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's|income.|Critical accounting estimates and areas of judgement|The trustees do not consider that there are any material sources of estimation or uncertainty at the balance sheet date that could|result in a material adjustment to the carrying values of assets and liabilities in the next reporting period.| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |d)|||||||e)||||||||||f)||||||||||g)||||h)||||i)||||j)||| |||||2021|£|433,525|20,814|19,911|75,571|549,821||2021|£|20,814|20,814||2021|£|54|-|54||2021|£|-|-|-|1,055|1,055||2022|£||55,886|178,447|25,323||12,956||272,612||3,960|72,205|50,753|4,915|226|132,058|404,670|_2021_|_£_||_21,453_|_184,492_|_18,082_|_8,526_|_232,553_||_4,800_|_83,484_|_45,381_|_-_|_168_|_133,833_|_366,386_||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |**REDEEMER WORTHING LTD**|**NOTES TO THE ACCOUNTS**|**FOR THE YEAR ENDED 31 AUGUST 2022**|**3**
**Donations and legacies**|2022|£|General Donations
235,894|Donations in kind
29,670|Government Job Retention Scheme grants
-|Income tax recoverable
46,300|311,863|Donations in kind comprise the following:|2022|Goods donated for:
£|Foodbank
29,670|29,670|**4**
**Investment income**|2022|£|Bank interest
83|Management contribution from Rooms Worthing Ltd
37,738|37,822|**5**
**Other income**|2022|£|Newday, Fusion & Church camps
21,912|VAT recovery
13,326|Other church events
680|Other income
2,409|38,326|**6**
**Charitable expenditure**|Core activities
Foodbank|£
£|**a**
**Costs incurred directly on specific activities**|Church activities
48,373
7,513|Staff costs
158,649
19,798|Donations in kind expensed (note 4e)
-
25,323||Grants payable (note 4f)
12,956
-||219,978
52,635|**b**
**Costs incurred on support & administration**|Governance costs
3,960
-|Administration support costs
68,679
3,526|Depreciation of tangible fixed assets
46,755
3,998|Stock wastage
-
4,915|Other
226
-|119,619
12,439|**Total expenditure**
339,597
65,074|**_In the previous year, charitable expenditure was as follows:_**
_Core activities_
_Foodbank_|_£_
_£_|**_c_**
**_Costs incurred directly on specific activities_**|_Church activities_
_13,940_
_7,513_|_Staff costs_
_164,694_
_19,798_|_Donations in kind expensed (note 4e)_
_-_
_18,082_|_Grants payable (note 4f)_
_8,526_
_-_|_187,160_
_45,393_|**_d_**
**_Costs incurred on support & administration_**|_Governance costs_
_4,800_
_-_|_Administration support costs_
_79,958_
_3,526_|_Depreciation of tangible fixed assets_
_45,381_
_-_|_Stock wastage_
_-_
_-_|_Other_
_168_
_-_|_130,307_
_3,526_|**_Total expenditure_**
_317,467_
_48,919_|The fee payable to the independent examiner for preparing and examining the accounts was £3,960 (2021: £4,800).|Page 13| |**NOTES TO THE ACCOUNTS**|**FOR THE YEAR ENDED 31 AUGUST 2022**|**Donations in kind expensed in year**|2022
2021|£
£|Donated goods distributed in year
25,323
18,082|Donated goods distributed in year
25,323
18,082|25,323
18,082|**Grants payable**|**Grants payable**|Individuals
Institutions
2022|£
£
£|Grants for UK and overseas mission
27
12,929
12,956|27
12,929
12,956|The comparatives for the previous year are as follows:|Individuals
Institutions
2021|£
£
£|Grants for UK and overseas mission
926
7,600
8,526|926
7,600
8,526|The charity's principal grants to institutions comprised:|2022
2021|£
£|Regions beyond
3,850
6,600|West Africa Mission
4,522
-|Issachar Ministries UK
-
1,000|Xtend Global UK
1,000
-|Hope for Tomorrow Global
1,631
-|Yada UK
1,800|Grants to institutions for less than £1,000 each
125
-|12,929
7,600|**Analysis of staff costs, the cost of key management personnel and trustee remuneration and expenses**|2022
2021|£
£|Gross wages, salaries & benefits in kind
155,009
157,595|Employer's National Insurance costs
8,522
12,265|Pension costs
12,013
13,537|Other pay costs
2,532
1,095|Total staff costs
178,076
184,492|The average monthly number of employees during the year was 8 (2021: 8). Most of the charity's activities are carried out by|volunteers.|No staff received salaries at a rate of more than £60,000 per annum.|During the year key management received employment benefits totalling £83,679 (2021: £69,715).|No trustees received employment benefits in either the current or preceding year.|No expenses (2021: £nil) were paid to, or for, the trustees.| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |||**e**||||||**f**||||||||||||||||||||||**7**|||||||||||||| |Fixtures|fittings and
Computer
Furniture
Fit Out
Vehicles
Total|equipment
Equipment
Costs
2022|£
£
£
£
£
£|Cost|At 1 September 2021
36,036
1,000
38,320
806,539
-
881,895|Additions
13,733
-
-
-
11,995
25,728|Disposals
-
-
-
-
-
-|At 31 August 2022
49,769
1,000
38,320
806,539
11,995
907,623|Accumulated depreciation|At 1 September 2021
7,791
1,000
1,916
40,327
51,035|Charge for the year
4,512
-
1,916
40,327
3,998
50,753|Eliminated on disposal
-
-
-
-
-
-|At 31 August 2022
12,303
1,000
3,832
80,654
3,998
101,787|Net book value|At 31 August 2022
37,466
-
34,488
725,885
7,997
805,836|At 31 August 2021
28,245
-
36,404
766,212
-
830,861|On 13 September 2020 the Church signed a 20 year lease on 1st Floor, Guildbourne Centre, Worthing. Fit out and other costs have|been capitalised and will be depreciated over the length of the 20 year lease.|**Fixed asset investments**|Unquoted
2022
2021|shares
£
£|Cost or fair value brought forward
1
1
-|Cost or fair value carried forward
1
1
1|UK unquoted shares – In September 2020, a subletting company ‘The Rooms (Worthing) Ltd’ (Company number 11750254) was|established to allow the Church to sublet the space to others when not in use by the church.|**Stock**|2022
2021|£
£|Donated goods|For distribution to beneficiaries
4,348
4,916|4,348
4,916|**Debtors**|2022
2021|£
£|**Falling due within one year:**|Tax recoverable
3,544
3,435|Prepayments
1,091
144|Other debtors
5,385
4,643|Due from group undertakings
18,667
-|28,687
8,222|**Falling due after one year**|Loans to group undertakings
12,097
12,097|12,097
12,097|**Total debtors**
40,784
20,319|The church has granted a loan of £10,000 to The Rooms Worthing Ltd, a 100% owned subsidiary. The loan is interest free, unsecured|and will be repaid as funds become available.|**Cash at Bank and in Hand**|2022
2021|£
£|Cash at bank with immediate access
171,762
262,131|Petty cash
489
489|172,250
262,619| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||||||||||||||||||||**9**|||||||**10**||||||**11**|||||||||||||||**12**|||||| |2022
2021|£
£|Escrow account
-
50,000|Accruals
12,284
41,122|12,284
91,122|**Creditors: amounts falling due after more than one year**|2021
2020|£
£|Loans (note 15)
115,000
115,000|115,000
115,000|**Funds**|During the year the movements in the charity's funds were as follows:|Opening
Incoming
Outgoing
Transfers
Gains and
Closing|balance
resources
resources
in the year
losses
balance|2022
2022
2022
2022
2022
2022|£
£
£
£
£
£|_Designated Funds_|Mission funds
-
-
-
-
-
-|Building fund
-
13,537
-
(13,537)
-
-|Foodbank Body Basics
670
-
(484)
-
-
186|Fit Out costs
-
2,420
(2,420)
-
-
-|Fusion and church camp
-
14,106
(15,542)
(648)
-
(2,084)|Gather fund
5,168
234
-
-
-
5,402|In Need Fund
887
-
(510)
-
-
377|Internship Fund
1,366
-
(239)
-
-
1,127|Rent - GBC rent etc
40,000
2,965
(22,965)
-
-
20,000|Roomsworthing Fund
-
256
(82)
(174)
-
-|Soup Run & Night Shelter
5,856
900
-
-
-
6,756|Youth Work
494
-
-
(494)
-
0|Burundi truck
-
1,631
(1,631)
-
-
-|Newday
-
8,337
(10,114)
1,777
-
0|Reserve for loan repayment
-
-
-
17,515
-
17,515|Bereavement support
-
-
(27)
1,500
-
1,473|54,442
44,386
(54,014)
5,939
-
50,752|_General Unrestricted Funds_
767,794
285,637
(286,260)
(6,315)
-
760,856|Total Unrestricted Funds
822,236
330,023
(340,274)
(376)
-
811,609|_Restricted Funds_|Special offerings
662
4,522
(4,522)
-
-
662|Contingency Fund
-
-
-
-
-
-|Foodbank
86,611
53,465
(56,428)
14
-
83,662|City Hill Fund
3,084
-
(3,446)
362
-
0|90,357
57,987
(64,397)
376
-
84,324|Aggregate of funds
912,593
388,011
(404,670)
-
-
895,933|**Transfers**|The restricted Contingency fund was established to ringfence donations given to fund the church's acquisition and fit out of its new|venue. All the funds have been spent in line with the donors' wishes and capitalised in these accounts. This transfer reflects the|church's spending on capital costs.| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |||||2022|£|805,836|1|4,348|40,784|172,250|(12,284)|(115,000)|895,935|||_Closing_|_balance_|_2021_|_£_||_-_|_0_|_670_|_-_|_-_|_5,168_|_887_|_1,366_|_40,000_|_-_|_5,856_|_494_|_54,442_|_767,794_|_822,235_||_662_|_-_|_86,611_|_3,084_|_90,357_|_912,592_| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||||Restricted|funds|£|-|-|4,348|-|79,976|-|-|84,324|||_Gains and_|_losses_|_2021_|_£_||_-_|_-_|_-_|_-_|_-_|_-_|_-_|_-_|_-_|_-_|_-_|_-_|_-_|_-_|_-_||_-_|_-_|_-_|_-_|_-_|_-_| |||Unrestricted Funds|General
Designated|funds
funds|£
£|805,836
-|1
-|-
-|40,784
-|41,521
50,752|(12,284)
-|(115,000)
-|760,859
50,752|||_Outgoing_
_Transfers_|_resources_
_in the year_|_2021_
_2021_|_£_
_£_||_-_
_(49,125)_|_-_
_(159,815)_|_(99)_
_172_|_-_
_(100,474)_|_-_
_-_|_-_
_5,168_|_(500)_
_547_|_(58)_
_1,424_|_-_
_40,000_|_(313)_
_-_|_(100)_
_4,756_|_(127)_
_621_|_(1,197)_
_(256,725)_|_(333,734)_
_664,439_|_(334,931)_
_407,714_||_-_
_-_|_-_
_(411,846)_|_(30,837)_
_514_|_-_
_3,000_|_(30,837)_
_(408,332)_|_(365,768)_
_(618)_| |**Analysis of net assets by fund**|The assets and liabilities of the various funds were as follows:|||||Tangible fixed assets|Investments|Stock|Debtors|Cash at bank and in hand|Creditors falling due within one year|Creditors falling due after more than one year||_In the previous year the movements in the charity's funds were as follows:_||_Opening_
_Incoming_|_balance_
_resources_|_2021_
_2021_|_£_
_£_|_Designated Funds_|_Mission funds_
_49,125_
_-_|_Building fund_
_43,868_
_115,947_|_Foodbank Body Basics_
_597_|_Fit Out costs_
_100,474_|_Fusion and church camp_
_-_|_Gather fund_
_-_|_In Need Fund_
_840_|_Internship Fund_
_-_|_Rent - GBC rent etc_
_-_|_Roomsworthing Fund_
_313_|_Soup Run & Night Shelter_
_1,200_|_Youth Work_
_-_|_92,993_
_219,371_|_General Unrestricted Funds_
_174,591_
_262,498_|_Total Unrestricted Funds_
_267,583_
_481,869_|_Restricted Funds_|_Special offerings_
_220_
_442_|_Contingency Fund_
_410,491_
_1,355_|_Foodbank_
_49,670_
_67,264_|_City Hill Fund_
_84_
_-_|_460,465_
_69,061_|_Aggregate of funds_
_728,048_
_550,930_| ## |_In the previous year, the assets and liabilities of the various funds were as follows:_|_Unrestricted Funds_|_General_
_Designated_
_Restricted_|_funds_
_funds_
_funds_
_2021_|_£_
_£_
_£_
_£_|_Tangible fixed assets_
_830,861_
_-_
_-_
_830,861_|_Investments_
_1_
_-_
_-_
_1_|_Stock_
_-_
_-_
_4,916_
_4,916_|_Debtors_
_20,319_
_-_
_-_
_20,319_|_Cash at bank and in hand_
_122,737_
_54,442_
_85,441_
_262,619_|_Creditors falling due within one year_
_(91,122)_
_-_
_-_
_(91,122)_|_Creditors falling due after more than one year_
_(115,000)_
_-_
_-_
_(115,000)_|_767,797_
_54,442_
_90,357_
_912,595_|**Mission Fund**is money set aside to help those in need, locally and internationally.|**Building fund**is money set aside to be used for the acquisition of a lease and development costs for the church's new premises.|**Foodbank Body Basics fund**is to support the church's foodbank serving the local area|**Fit Out Costs Fund**was created to set aside funds needed to fit out the church's new building|**Gather fund**is for donations to support the church's joint church camping weekend.|**In Need Fund**is for donations to support need problems that arise.|**Internship Fund**is for donations to support the work of interns within the church.|**Rent fund GBC**is an amount set aside from donations to pay for rent, service charges & insurance|for the Guildbourne Centre in its early years.|**Roomsworthing Fund**aims to support the work of the church's subsidiary, The Rooms Worthing Ltd, in its work serving the local|community.|**Soup Run and Nightshelter Funds**are for use for the service to the homeless.|**Youth Work Fund**is for the work amongst the youth of the church.|**Special offerings fund**is used for raising money (via donations) for specific charities|**Contingency Fund**is designed to pay for any unforeseen events and could include a building project|**City H�ll Fund**is to fund the church's work in Asia|**Foodbank Fund**is to support the church's foodbank serving the local area|**International Workers Fund**is for all other international work supported by the church| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ## |**Loans and finance leases**|The liabilities for concessionary loans referred to in note 10 fall due for repayment as follows:|Otherwise
Concessionary loans|than by
By
2022
2021|instalments
instalments
£
£|Repayable:|Within one year
-
-
-
-|Between one and five years
115,000
-
115,000
115,000|After five years
-
-|115,000
-
115,000
115,000|The concessionary loans are interest free and unsecured; they are being repaid when funds become available. The latest date by|which all loans must be repaid in full is 1 October 2025.|**Operating lease commitments**|The charity has an operating lease for its church building in the Guildbourne centre, Worthing. The minimum amount payable (until the|next break clause and ignoring the potential effect of future rent reviews) in respect of this lease is as follows:|2022
2021|£
£|Payments falling due:|Within one year
39,528
39,528|Between one and five years
118,584
118,584|After five years
-
-|158,112
158,112|During the year the charity was charged £38,112 (2021: £38,112) for its operating lease.|**Transactions with related parties**|During the year the charity received donations totalling £27,405 (2021: £72,732) from related parties (which includes trustees,|members of key management and anyone closely connected to them).|During the year the charity received loans of £15,000 and £10,000 from Paul and Janet Tostevin, who are related to Joel Tostevin, a|member of the charity's key management. The loans are unsecured and interest free, as decribed in note 14.|Except as disclosed in note 5 'Analysis of staff costs', there have been no other transactions with related parties during the year.|**Subsidiaries**|Details of the church's subsidiary at 31 August 2022 are as follows:|**Class of**|**shares**
**% Held**
**Registered**|**Name of Undertaking**
**Nature of business**
**held**
**direct**
**Office**|The Rooms (Worthing) Ltd
Ordinary
100%
44 Guildbourne
Property letting and|Centre, Worthing
management| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||Total
2021
£
549,821
54
1,055
550,930
366,386
366,386
-
184,544
-
184,544
728,049
912,595|Restricted
2021
£
68,653
-
408
69,061
31,456
31,456
-
37,606
(407,713)
(370,108)
460,465
90,357|General
Designated
2021
2021
£
£
261,797
219,371
54
-
646
-
262,498
219,371
333,734
1,197
333,734
1,197
-
-
(71,236)
218,174
664,439
(256,725)
593,203
(38,551)
174,591
92,993
767,794
54,442
Unrestricted funds|||Total
2022
£
311,863
37,822
38,326
388,011
404,670
404,670
-
(16,660)
-
(16,660)
912,593
895,935|Restricted
2022
£
57,579
-
408
57,987
64,397
64,397
-
(6,409)
376
(6,033)
90,357
84,324|General
Designated
2022
2022
£
£
245,860
8,424
37,822
-
1,955
35,962
285,637
44,386
286,260
54,014
286,260
54,014
-
-
(622)
(9,628)
(6,315)
5,939
(6,938)
(3,689)
767,794
54,442
760,856
50,752
Unrestricted funds|Note
3
6
15
15| |---|---|---|---|---|---|---|---|---|---| ## ## ## ## ## ##