Charity Registration No. 1101942
Company Registration No. 04964320 (England and Wales)
BOURNEMOUTH COMMUNITY CHURCH
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
4 Brackley Close Bournemouth International Airport
Christchurch Dorset BH23 6SE
BOURNEMOUTH COMMUNITY CHURCH
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Rev R Constantine Mr A Driscoll Mr R S Hurley Mr S M Matos Mrs N M Wilkinson Mrs S A Sherwood (Appointed 6 November 2020)
Charity number 1101942 Company number 04964320 Principal address Life Centre 711 - 715 Wimborne Road Bournemouth BH9 2AU Registered office Life Centre 711 - 715 Wimborne Road Bournemouth BH9 2AU Independent examiner Harrisons Chartered Accountants 4 Brackley Close Bournemouth International Airport Christchurch Dorset BH23 6SE
BOURNEMOUTH COMMUNITY CHURCH
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 - 6 |
| Notes to the financial statements | 7 - 15 |
BOURNEMOUTH COMMUNITY CHURCH
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2020
The trustees present their report and financial statements for the year ended 31 December 2020.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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 1 January 2019)".
Objectives and activities
To advance the Christian Faith in accordance with the statement of beliefs appearing in the schedule hereto in Bournemouth and in such other parts of the United Kingdom or the World as the Trustees may from time to time think fit and to fulfil such other purposes which are exclusively charitable according to the Law of England and Wales and are connected with the charitable work of the Charity.
To advance the education in accordance with Christian principals in the said locality and elsewhere as the
Trustees may from time to time think fit.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
Notable activities and affiliations
Bournemouth Community Church is affiliated to The Evangelical Alliance, a nationwide family of individuals, organisations and churches. There are no related parties under the terms of the Statement of Recommended Practice that inhibits this registered Charity from pursuing its own separate interests. The church continues to effectively pursue its objects by conducting special initiatives for church members to share their faith and invite contacts to appropriate meetings.
Community Involvement
Bournemouth Community Church (BCC) along with the whole nation underwent significant changes during the year due to the impact of Covid-19. The church reorganised and adapted to the resulting economic changes of decreased activity and events at Lifecentre. Activities primarily met live online for most of BCC's interactions, services and meetings (all in accordance with Government guidelines).
The Lifecentre building remained open in order to facilitate essential NHS work and BCC's community support, and provide space for the ongoing work of:
• LIFEhouse as a signposting agency
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Food Bank, Munch Club
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NHS Blood Bank and Diabetic Eye Screen
• Accommodation for other Charitable organisations serving the local community
When and where possible and in-between lockdowns, limited numbers were permitted to attend worship services and other events in accordance with Government guidelines. Our local community recognised and have adopted the LifeCENTRE as place of support during times of need.
Development of the Facilities
Further investment was made to the infrastructure of the building to improve the facilities for the community and in-line with current health and safety requirements.
Financial review
We continued to meet our financial obligations and ended the year with a surplus.
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BOURNEMOUTH COMMUNITY CHURCH
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
Total amount of reserves held at 31 December 2020 was £1,698,136 (2019: £1,648,378) of which £1,598,841 was unrestricted funds and £99,295 was restricted. The majority of the restricted funds balance is made up of amounts received for the solar panels installation.
The Charity's policy on reserves is that we will make a suitable provision for contractual liabilities. In this regard, it was resolved by the Trustees that when possible, a reserve be created for the payments of salaries. The Trustees do not intend to keep substantial reserves as the objects of the charity determine distribution of funds to fulfill these objects and would only be agreed where there is a known future commitment that demands creating such a reserve.
The major risk that the charity faces is a significant drop in numbers of committed members from whom the Charity receives the bulk of its income. Fulfilling our commitment to our staff and regular expenditure to achieve our objects in a declining income scenario would be our main concern but which we do not anticipate being an ongoing problem. We have a history of seeing needs met and we flag-up shortfalls in income or uncovered increased expenditure to the congregation who have always responded well. There is an appropriate balance between caution and faith and the elders and Trustees are committed to seeing this maintained.
Structure, governance and management
The Charity is a company limited by guarantee and is governed by its memorandum and articles of association.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Rev R Constantine Mr A Driscoll Mr R S Hurley Mr S M Matos Mrs N M Wilkinson Mrs S A Sherwood (Appointed 6 November 2020)
The Trustees are appointed by the Board of Trustees and can serve for an unlimited amount of time and are not suject to retirement by rotation. The governing document provides for a minimum of 3 Trustees at any one time,but shall not be subject to any maximum.
The Charity is managed by the Board of Trustees, who meet at regular intervals during the year to discuss the major issues affecting the Charity.
The trustees' report was approved by the Board of Trustees.
Rev R Constantine
Trustee Dated: 28 September 2021
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BOURNEMOUTH COMMUNITY CHURCH
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF BOURNEMOUTH COMMUNITY CHURCH
I report to the trustees on my examination of the financial statements of Bournemouth Community Church (the charity) for the year ended 31 December 2020.
Responsibilities and basis of report
As the trustees of the charity (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 financial statements of the charity 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 financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the charity’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 , 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 that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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2 the financial statements do not accord with those records; or
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3 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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4 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 financial statements to be reached.
Harrisons Chartered Accountants
4 Brackley Close Bournemouth International Airport Christchurch Dorset BH23 6SE
Dated: 28 September 2021
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BOURNEMOUTH COMMUNITY CHURCH
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2020
| Unrestricted Restricted funds funds 2020 2020 Notes £ £ Income from: Donations and legacies 3 323,615 62,641 Investment income 4 18 - Total income 323,633 62,641 Expenditure on: Charitable activities 5 300,506 36,010 Net income for the year/ Net movement in funds 23,127 26,631 Fund balances at 1 January 2020 1,575,714 72,664 Fund balances at 31 December 2020 1,598,841 99,295 |
Total Unrestricted funds 2020 2019 £ £ 386,256 319,970 18 42 386,274 320,012 336,516 297,279 49,758 22,733 1,648,378 1,552,981 1,698,136 1,575,714 |
Restricted funds 2019 £ 114,788 - 114,788 59,460 55,328 17,336 72,664 |
Total 2019 £ 434,758 42 |
|---|---|---|---|
| 434,800 | |||
| 356,739 | |||
| 78,061 1,570,317 |
|||
| 1,648,378 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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BOURNEMOUTH COMMUNITY CHURCH
BALANCE SHEET
AS AT 31 DECEMBER 2020
| Notes Fixed assets Tangible assets 9 Investments 10 Current assets Debtors 11 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 14 Net assets Income funds Restricted funds 15 Unrestricted funds |
2020 £ £ 2,416,974 100 2,417,074 440,007 148,680 588,687 (30,279) 558,408 2,975,482 (1,277,346) 1,698,136 99,295 1,598,841 1,698,136 |
2019 £ £ 2,449,639 100 2,449,739 442,382 62,247 504,629 (84,088) 420,541 2,870,280 (1,221,902) 1,648,378 72,664 1,575,714 1,648,378 |
|---|---|---|
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BOURNEMOUTH COMMUNITY CHURCH
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2020
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2020.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 28 September 2021
Rev R Constantine
Trustee
Company Registration No. 04964320
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BOURNEMOUTH COMMUNITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
1 Accounting policies
Charity information
Bournemouth Community Church is a private company limited by guarantee incorporated in England and Wales. The registered office is Life Centre, 711 - 715 Wimborne Road, Bournemouth, BH9 2AU.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "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 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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BOURNEMOUTH COMMUNITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
1 Accounting policies
(Continued)
1.5 Expenditure
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, non-charitable 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.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold property 2% straight line Fixtures and fittings 25% reducing balance Equipment 25% reducing balance Motor vehicles 25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
1.7 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.8 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.
1.9 Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
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BOURNEMOUTH COMMUNITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
1 Accounting policies
(Continued)
1.10 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations and legacies
| Unrestricted Restricted funds funds 2020 2020 £ £ Offerings and donations 236,830 45,424 Legacies receivable 16,402 - Government grant income 20,012 14,872 Gift aid tax refund 48,442 2,345 Youth fund 1,929 - 323,615 62,641 |
Total Unrestricted Restricted funds funds 2020 2019 2019 £ £ £ 282,254 258,180 89,565 16,402 - - 34,884 - 22,309 50,787 53,005 2,914 1,929 8,785 - 386,256 319,970 114,788 |
Total 2019 £ 347,745 - 22,309 55,919 8,785 |
|---|---|---|
| 434,758 |
The charity benefits greatly from the involvement of its many volunteers. In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in the accounts.
4 Investment income
Interest receivable
| Unrestricted | Unrestricted |
|---|---|
| funds | funds |
| 2020 | 2019 |
| £ | £ |
| 18 | 42 |
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BOURNEMOUTH COMMUNITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
5 Charitable activities
| Charitable | Charitable |
|
|---|---|---|
| Expenditure | Expenditure |
|
| Heading 1 | Heading 1 | |
| 2020 | 2019 | |
| £ | £ | |
| Charitable activities costs | 319,634 | 323,847 |
| Share of governance costs (see note 6) | 16,882 | 32,892 |
| Analysis by fund | ||
| Unrestricted funds | 300,506 | 297,279 |
| Restricted funds | 36,010 | 59,460 |
| 336,516 | 356,739 |
6 Support costs
| Support costs Governance costs Analysed between Charitable activities |
Support costs Governance costs £ £ - 8,338 - 8,544 - 16,882 - 16,882 |
2020 £ 8,338 8,544 16,882 16,882 |
Support costs Governance costs £ £ - 8,842 - 24,050 - 32,892 - 32,892 |
2019 £ 8,842 24,050 |
|---|---|---|---|---|
| 32,892 | ||||
| 32,892 |
Governance costs includes payments of £1,660 (2019: £1,640) for independent examination fees.
7 Trustees
Rev R Constantine, a Trustee, was paid a gross salary (including employers NI and employers pension) of £52,569 (2019: £52,397).
Mr A Driscoll, a Trustee, was paid a gross salary (including employers NI and employers pension) of £35,446 (2019: £34,751).
Mrs N M Wilkinson, a Trustee, was paid a gross salary (including employers NI and employers pension) of £9,772 (2019: £5,024).
Rev R Constantine, Mr A Driscoll and Mrs N M Wilkinson are remunerated for their services provided in the course of their employment and not for their services as Trustees.
During the year 3 trustees were reimbursed expenses totalling £731 (2019: £3,794) in respect of travel, phone and other general church activity expenses.
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BOURNEMOUTH COMMUNITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
8 Employees
The average monthly number of employees during the year was:
| Employment costs Wages and salaries Social security costs Other pension costs |
2020 Number 10 2020 £ 141,238 7,529 13,978 162,745 |
2019 Number 10 |
|---|---|---|
| 2019 £ 134,389 7,850 9,961 |
||
| 152,200 |
During the year ex-gratia payments totalling £nil (2019: £3,342) were made to employees.
No employee received employee benefits of more than £60,000 during the year (2019: Nil).
9 Tangible fixed assets
| Tangible fixed assets | |||
|---|---|---|---|
| Cost At 1 January 2020 Additions At 31 December 2020 Depreciation and impairment At 1 January 2020 Depreciation charged in the year At 31 December 2020 Carrying amount At 31 December 2020 At 31 December 2019 |
Freehold property Fixtures and fittings £ £ 2,906,367 99,177 19,486 637 2,925,853 99,814 477,933 91,886 58,517 1,982 536,450 93,868 2,389,403 5,946 2,428,434 7,291 |
Equipment Motor vehicles £ £ 68,885 29,440 14,853 - 83,738 29,440 59,388 25,023 6,038 1,104 65,426 26,127 18,312 3,313 9,497 4,417 |
Total £ 3,103,869 34,976 |
| 3,138,845 | |||
| 654,230 67,641 |
|||
| 721,871 | |||
| 2,416,974 | |||
| 2,449,639 |
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BOURNEMOUTH COMMUNITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
10 Fixed asset investments
| Cost or valuation At 1 January 2020 & 31 December 2020 Carrying amount At 31 December 2020 At 31 December 2019 Other investments comprise: Notes Investments in subsidiaries 18 11 Debtors Amounts falling due within one year: Amounts owed by subsidiary undertakings Other debtors Prepayments and accrued income 12 Loans and overdrafts Bank loans Payable within one year Payable after one year Amounts included above which fall due after five years: Payable by instalments |
Other investments 100 100 100 2020 2019 £ £ 100 100 2020 2019 £ £ 434,792 407,214 5,215 33,468 - 1,700 440,007 442,382 2020 2019 £ £ 1,304,507 1,265,171 27,161 43,269 1,277,346 1,221,902 1,047,533 1,035,118 |
|---|---|
Bank loans totalling £1,254,507 are secured by a fixed charge over the charity's freehold property.
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BOURNEMOUTH COMMUNITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
| 13 Creditors: amounts falling due within one year Notes Bank loans 12 Trade creditors Other creditors Accruals and deferred income 14 Creditors: amounts falling due after more than one year Notes Bank loans 12 |
2020 £ 27,161 426 - 2,692 30,279 2020 £ 1,277,346 |
2019 £ 43,269 2,669 1,300 36,850 |
|---|---|---|
| 84,088 | ||
| 2019 £ 1,221,902 |
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BOURNEMOUTH COMMUNITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
15 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| Movement in funds | Movement in funds | |||
|---|---|---|---|---|
| Balance at | Incoming | Resources | Balance at | |
| 1 January 2020 | resources | expended | 31 December | |
| 2020 | ||||
| £ | £ | £ | £ | |
| Room To Grow | 2,012 | 10,400 | (2,500) | 9,912 |
| Sleepsafe | 769 | 3,452 | (2,331) | 1,890 |
| Solar Panels | 69,883 | 19,489 | (1,879) | 87,493 |
| Staffing | - | 29,300 | (29,300) | - |
| 72,664 | 62,641 | (36,010) | 99,295 |
| Movement in funds | ||||
|---|---|---|---|---|
| Balance at | Incoming | Resources | Balance at | |
| 1 January 2019 | resources | expended | 1 January 2020 | |
| £ | £ | £ | £ | |
| Room To Grow | 16,131 | 11,490 | (25,609) | 2,012 |
| Sleepsafe | 1,205 | 1,119 | (1,555) | 769 |
| Solar Panels | - | 71,309 | (1,426) | 69,883 |
| Staffing | - | 30,870 | (30,870) | - |
| 17,336 | 114,788 | (59,460) | 72,664 |
Room to Grow: A restricted fund to provide the opportunity to give toward a larger facility, one with 'room to grow'. Once the facility is identified, these funds will go directly toward any mortgage required.
Sleepsafe: A restricted fund to assist a project run by local churches to provide a safe sleeping environment for rough sleepers in the local area.
Solar Panels: A restricted fund made up of council grants and other donations to install solar panels on the building.
Staffing: A restricted fund made up of donations received specifically to assist with staff salaries.
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BOURNEMOUTH COMMUNITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
| 16 Analysis of net assets between funds Unrestricted funds Restricted funds Total Unrestricted funds 2020 2020 2020 2019 £ £ £ £ Fund balances at 31 December 2020 are represented by: Tangible assets 2,329,481 87,493 2,416,974 2,379,756 Investments 100 - 100 100 Current assets/ (liabilities) 546,606 11,802 558,408 417,760 Long term liabilities (1,277,346) - (1,277,346) (1,221,902) 1,598,841 99,295 1,698,136 1,575,714 |
Restricted funds Total 2019 2019 £ £ 69,883 2,449,639 - 100 2,781 420,541 - (1,221,902) 72,664 1,648,378 |
|---|---|
17 Related party transactions
Transactions with related parties
During the year the charity entered into the following transactions with related parties:
The Charity holds 100% of the shares of Bournemouth Lifecentre Limited. Included in debtors is a balance of £434,792 (2019: £407,214) owed from Bournemouth Lifecentre Limited.
During the year aggregate donations received from trustees without conditions was £40,304 (2019: £33,056).
Mr J Constantine, son of trustee Rev R Constantine, was paid £1,970 (2019: £2,275) during the year for advertising and publicity.
Rev R Constantine is the executor for the estate of a late member of the congregation of which the charity is a beneficiary. During the year a legacy of £16,402 was received from this estate.
18 Subsidiaries
The charity owns 100% of the issued share capital of Bournemouth Lifecentre Limited.
The loss for the year ended 31 December 2020 was £18,536 (2019: £18,788). The profit and loss reserves deficit was £372,212 (2019: £353,676).
19 Limited by guarantee
Every member promises, if the Company is dissolved while he, she or it remains a member or within twelve months afterwards, to pay up to £10 towards the cost of dissolution and the liabilities incurred by the Company while the contributor was a member.
20 Contingent Assets
As at 31 December 2020 the charity had been notified of legacies from the estates of two former members of the congregation. The value of which is uncertain as the estates are yet to be finalised and probate granted, therefore income relating to these legacies has not been accrued. Monies due are expected to be received during 2021.
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