OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← Bournemouth Community Church

2023-12-31-accounts

Charity registration number 1101942

Company registration number 04964320 (England and Wales)

BOURNEMOUTH COMMUNITY CHURCH

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

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 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 - 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Statement of cash flows 7
Notes to the financial statements 8 - 20

BOURNEMOUTH COMMUNITY CHURCH

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees present their annual report and financial statements for the year ended 31 December 2023.

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.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Significant activities and achievements against objectives

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) began another 2 year strategy to deal with the continued significant increases to national inflation and the economic recession.

BCC continued to operate to fulfil its objectives and aims, and 'make disciples who make disciples'. Throughout the year our in-person Sunday services have been steadily growing, as have our weekday ministries and activities. Live streaming of Sunday services continued for those participating online. Life groups grew in number and continue to provide important fellowship and support in a personal setting. BCC were also were beneficiaries of a legacy gift which included 5 retail properties with commercial lettings. The addition of a conservatory in the building has enhanced BCC's capabilities for hosting various ministry activities as well as letting the space for other purposes.

BOURNEMOUTH COMMUNITY CHURCH

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

The Lifecentre building once again has facilitated essential NHS work and BCC's community support, and provided space for the ongoing work of:

BCC's approach to community engagement is a mixture of practical help, prayer help and conversations about faith. As such our faith in Christ is embedded in all that we do. Central to all this is our warm welcome hub and foodbank called Lifehouse. Lifehouse is a place where anyone can come to chat and receive prayer, and be signposted to other partnership working services such as Community Money Advice in partnership with Faithworks Wessex, addictions help through 'Star' Recovery courses, 'Kintsugi Hope' mental health and wellbeing courses, and Alpha which is a 12 week introductory course to the Christian faith. In addition to this we also run 'Munch' which is our own family food programme, and Time for Tea which is our weekly community meal for those in need. Further to this, we have also partnered with Christians from a number of different churches throughout the year to reach out with Christian gospel initiatives in the town more broadly, and we have seen a good response to this from all kinds of people.

Development of the Facilities

Further investment was made to the infrastructure of the building to improve the facilities for the community and inline with current health and safety requirements.

Financial review

We continued to meet our financial obligations and ended the year with a surplus.

Reserves policy

Total amount of reserves held at 31 December 2023 was £1,696,059 (2022: restated £1,269,459) of which £1,586,206 was unrestricted funds and £109,853 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.

BOURNEMOUTH COMMUNITY CHURCH

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Major risks

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.

Plans for future periods

We intend to maintain our existing range of ministry and community-engagement activities working with local community partners (with over 250,000 people using the facilities annually), as well as look to further develop community engagement activities to assist the ever-growing needs.

There continues to be a small amount of space in the Lifecentre building which has the potential for development and use for either ministry and community activities or commercial letting, or a combination of both. Opportunities to development these spaces are actively being considered.

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

Recruitment and appointment of trustees

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.

Organisational structure

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

26 September 2024

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 2023.

An independent examination has taken place instead of an audit (Regulation 31(f)) following an audit dispensation dated 14 August 2024 being granted under Regulation 34(3)(b) of the Charities (Accounts and Reports) Regulations 2008.

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 ICAEW, 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:

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: 26 September 2024

BOURNEMOUTH COMMUNITY CHURCH

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income and endowments from:
Donations and legacies
3
742,803
55,713
Investments
4
122,443
-
Other income
5
5,812
-
Total income
871,058
55,713
Expenditure on:
Charitable activities
6
452,479
47,692
Total expenditure
452,479
47,692
Net income/(expenditure)
418,579
8,021
Transfers between
funds
6,400
(6,400)
Net movement in
funds
8
424,979
1,621
Reconciliation of funds:
Fund balances at 1 January
2023
1,161,227
108,232
Fund balances at 31
December 2023
1,586,206
109,853		 Total
Unrestricted
Restricted
Total
funds
funds
2023
2022
2022
2022
as restated
£
£
£
£
798,516
332,315
53,720
386,035
122,443
11
-
11
5,812
7,430
-
7,430
926,771
339,756
53,720
393,476
500,171
793,381
38,975
832,356
500,171
793,381
38,975
832,356
426,600
(453,625)
14,745
(438,880)
-
-
-
-
426,600
(453,625)
14,745
(438,880)
1,269,459
1,614,852
93,487
1,708,339
1,696,059
1,161,227
108,232
1,269,459

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

BOURNEMOUTH COMMUNITY CHURCH

BALANCE SHEET

AS AT 31 DECEMBER 2023

Notes
Fixed assets
Tangible assets
12
Investment property
13
Investments
14
Current assets
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within
one year
17
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
18
Net assets
The funds of the charity
Restricted income funds
20
Unrestricted funds		 2023
£
£
2,273,860
460,000
100
2,733,960
68,088
89,241
157,329
(75,891)
81,438
2,815,398
(1,119,339)
1,696,059
109,853
1,586,206
1,696,059		 2022
as restated
£
£
2,296,053
-
100
2,296,153
83,842
116,756
200,598
(67,494)
133,104
2,429,257
(1,159,798)
1,269,459
108,232
1,161,227
1,269,459

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 2023.

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 26 September 2024

Rev R Constantine Trustee

Company registration number 04964320 (England and Wales)

BOURNEMOUTH COMMUNITY CHURCH

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2023

Notes
Cash flows from operating activities
Cash (absorbed by)/generated from
operations
26
Investing activities
Purchase of tangible fixed assets
Proceeds from disposal of tangible fixed
assets
Investment income received
Net cash generated from/(used in)
investing activities
Financing activities
Repayment of bank loans
Net cash used in financing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2023
£
(45,025)
-
122,443
(43,114)		 £
(61,819)
77,418
(43,114)
(27,515)
116,756
89,241		 2022
£
(13,697)
8,730
11
(52,991)		 £
37,059
(4,956)
(52,991)
(20,888)
137,644
116,756

BOURNEMOUTH COMMUNITY CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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 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. 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 or grantors 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.

BOURNEMOUTH COMMUNITY CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

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:

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 Solar panels 4% straight line Fixtures and fittings 25% reducing balance Equipment 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 the statement of financial activities.

1.7 Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.8 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.

1.9 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.

BOURNEMOUTH COMMUNITY CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

1.10 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.

1.11 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
2023
2023
£
£
Offerings and donations
232,824
26,685
Legacies receivable
460,000
-
Grant income
-
29,028
Gift aid tax refund
46,645
-
Youth fund
3,334
-
742,803
55,713		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
259,509
238,131
12,320
460,000
43,666
-
29,028
-
41,400
46,645
49,506
-
3,334
1,012
-
798,516
332,315
53,720		 Total
2022
£
250,451
43,666
41,400
49,506
1,012
386,035

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.

BOURNEMOUTH COMMUNITY CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

4 Income from investments

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Rental income 122,314 -
Interest receivable 129 11
122,443 11

5 Other income

5 Other income
Unrestricted Unrestricted
funds funds
2023 2022
£ £
Net gain on disposal of tangible fixed assets - 6,245
Solar resale 5,812 1,185
5,812 7,430
6 Charitable activities
Church Church
activities activities
2023 2022
£ £
Charitable activities costs 467,878 809,023
Share of governance costs (see note 7) 32,293 23,333
Analysis by fund
Unrestricted funds 452,479 793,381
Restricted funds 47,692 38,975
500,171 832,356

BOURNEMOUTH COMMUNITY CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

7 Support costs
Support
costs
Governance
costs
£
£
Staff costs
-
8,751
Legal and professional fees
-
23,542
-
32,293
Analysed between
Charitable activities
-
32,293		 2023
Support
costs
Governance
costs
£
£
£
8,751
-
8,942
23,542
-
14,391
32,293
-
23,333
32,293
-
23,333		 2022
£
8,942
14,391
23,333
23,333

Governance costs includes payments of £1,921 (2022: £1,733) for independent examination fees.

8 Net movement in funds 2023 2022
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements 2,465 2,501
Depreciation of owned tangible fixed assets 67,218 67,667
Loss/(profit) on disposal of tangible fixed assets - (6,245)

9 Trustees

Rev R Constantine, a Trustee, was paid a gross salary (including employers NI and employers pension) of £52,036 (2022: £53,462).

Mr A Driscoll, a Trustee, was paid a gross salary (including employers NI and employers pension) of £38,968 (2022: £38,827).

Mrs N M Wilkinson, a Trustee, was paid a gross salary (including employers NI and employers pension) of £9,036 (2022: £14,610).

As permitted according to clause 6 of the charity's governing document, Rev R Constantine, Mr A Driscoll and Mrs N M Wilkinson are remunerated for their services as religious pastors. No remuneration is paid for their services as Trustees.

During the year 3 trustees were reimbursed expenses totalling £1,557 (2022: £1,011) in respect of travel, phone and other general church activity expenses.

10 Employees

The average monthly number of employees during the year was:

2023 2022
Number Number
10 9

BOURNEMOUTH COMMUNITY CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

10
Employees
Employment costs
Wages and salaries
Social security costs
Other pension costs		 (Continued)
2023
2022
£
£
150,273
140,517
7,444
9,332
12,033
15,747
169,750
165,596		 (Continued)
2023
2022
£
£
150,273
140,517
7,444
9,332
12,033
15,747
169,750
165,596
165,596

There were no employees whose annual remuneration was more than £60,000.

11 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

12 Tangible fixed assets

Cost
At 1 January 2023
Additions
At 31 December 2023
Depreciation and impairment
At 1 January 2023
Depreciation charged in the year
At 31 December 2023
Carrying amount
At 31 December 2023
At 31 December 2022		 Freehold
property
Fixtures and
fittings
£
£
2,931,974
99,814
43,123
-
2,975,097
99,814
657,365
96,469
61,381
836
718,746
97,305
2,256,351
2,509
2,274,609
3,345		 Equipment
£
94,952
1,902
96,854
76,853
5,001
81,854
15,000
18,099		 Total
£
3,126,740
45,025
3,171,765
830,687
67,218
897,905
2,273,860
2,296,053

BOURNEMOUTH COMMUNITY CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

13 Investment property

Investment property
Fair value
At 1 January 2023
Additions
At 31 December 2023		 2023
£
-
460,000
460,000

Investment property comprises of properties acquired as part of a legacy from the estate of a former member of the congregation. The fair value has been included as the valuation at probate and the trustees are of the opinion this is appropriate as at 31 December 2023.

14 Fixed asset investments

Cost or valuation
At 1 January 2023 & 31 December 2023
Carrying amount
At 31 December 2023
At 31 December 2022
Other investments comprise:
Notes
Investments in subsidiaries
24
15
Debtors
Amounts falling due within one year:
Trade debtors
Amounts owed by subsidiary undertakings
Other debtors
Prepayments and accrued income		 Other
investments
100
100
100
2023
2022
£
£
100
100
2023
2022
£
£
12,149
-
40,201
66,181
14,699
11,453
1,039
6,208
68,088
83,842		 Other
investments
100
100
100
2023
2022
£
£
100
100
2023
2022
£
£
12,149
-
40,201
66,181
14,699
11,453
1,039
6,208
68,088
83,842
100
100
2022
£
100
2022
£
-
66,181
11,453
6,208
83,842

BOURNEMOUTH COMMUNITY CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

16
Loans and overdrafts
2023
£
Bank loans
1,173,364
Payable within one year
54,025
Payable after one year
1,119,339
Amounts included above which fall due after five years:
Payable by instalments
975,416
Bank loans totalling £1,149,274 are secured by a fixed charge over the charity's freehold property.
17
Creditors: amounts falling due within one year
2023
Notes
£
Bank loans
16
54,025
Other taxation and social security
5,156
Trade creditors
1,692
Other creditors
2,075
Accruals and deferred income
12,943
75,891
18
Creditors: amounts falling due after more than one year
2023
Notes
£
Bank loans
16
1,119,339
19
Retirement benefit schemes
2023
Defined contribution schemes
£
Charge to profit or loss in respect of defined contribution schemes
12,033		 2022
£
1,216,478
56,680
1,159,798
932,850
2022
£
56,680
5,290
365
2,075
3,084
67,494
2022
£
1,159,798
2022
£
15,747

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

BOURNEMOUTH COMMUNITY CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

20 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Balance at
1 January 2023
r
£
Room To Grow
7,202
Solar Panels
79,977
Staffing
10,396
Munch Club
10,657
Winton Community Shed
-
Bounce back loan contributions
-
108,232		 Movement in funds
Incoming
esources
Resources
expended
£
£
14,460
(4,800)
-
(3,758)
10,000
(15,575)
20,835
(23,512)
5,618
(47)
4,800
-
55,713
(47,692)		 Transfers
Balance at
31 December
2023
£
£
-
16,862
-
76,219
(1,001)
3,820
(599)
7,381
-
5,571
(4,800)
-
(6,400)
109,853		 Transfers
Balance at
31 December
2023
£
£
-
16,862
-
76,219
(1,001)
3,820
(599)
7,381
-
5,571
(4,800)
-
(6,400)
109,853
109,853
Movement in funds
Balance at
1 January 2022
Incoming
resources
Resources
expended
£
£
£
Room To Grow
9,752
10,650
(13,200)
Sleepsafe
-
-
-
Solar Panels
83,735
-
(3,758)
Staffing
-
20,000
(9,604)
93,487
53,720
(38,975)		 Transfers
Balance at
31 December
2022
£
£
-
7,202
-
-
-
79,977
-
10,396
-
108,232		 Transfers
Balance at
31 December
2022
£
£
-
7,202
-
-
-
79,977
-
10,396
-
108,232
108,232

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.

Munch Club: a restricted fund for the purpose of providing free lunches for school children in the local community during school holidays with the aim to reduce 'holiday hunger'.

Winton Community Shed: a restricted fund for the purpose of working as a community to put together a Shed where people can come together.

Bounceback loan contributions: a restricted fund where monies have been donated to contribute to loan repayments.

BOURNEMOUTH COMMUNITY CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

21 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

Balance at
1 January 2023
£
Unrestricted
1,099,642
Designated - capital expenditure fund
61,585
1,161,227
Balance at
1 January 2022
£
Unrestricted
1,614,852
Designated - capital expenditure fund
-
1,614,852		 Movement in funds
Incoming
resources
Resources
expended
Transfers
Balance at
31 December
2023
£
£
£
£
856,509
(437,068)
6,400
1,525,483
-
(862)
-
60,723
856,509
(437,930)
6,400
1,586,206
Movement in funds
Incoming
resources
Resources
expended
Transfers
Balance at
31 December
2022
£
£
£
£
339,756
(793,381)
(61,585)
1,099,642
-
-
61,585
61,585
339,756
(793,381)
-
1,161,227

22 Analysis of net assets between funds

Unrestricted Restricted Total
funds funds
2023 2023 2023
£ £ £
At 31 December 2023:
Tangible assets 2,197,641 76,219 2,273,860
Investment properties 460,000 - 460,000
Investments 100 - 100
Current assets/(liabilities) 47,804 33,634 81,438
Long term liabilities (1,119,339) - (1,119,339)
1,586,206 109,853 1,696,059

BOURNEMOUTH COMMUNITY CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

22 Analysis of net assets between funds

Analysis of net assets between funds (Continued)
Unrestricted Restricted Total
funds funds
2022 2022 2022
£ £ £
At 31 December 2022:
Tangible assets 2,216,076 79,977 2,296,053
Investments 100 - 100
Current assets/(liabilities) 104,849 28,255 133,104
Long term liabilities (1,159,798) - (1,159,798)
1,161,227 108,232 1,269,459

23 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 £40,201 (2022: £66,181) owed from Bournemouth Lifecentre Limited.

During the year aggregate donations received from trustees without conditions was £35,833 (2022: £47,445).

Mr J Constantine, son of trustee Rev R Constantine, was paid £175 (2022: £320) during the year for advertising and publicity.

24 Subsidiaries

The charity owns 100% of the issued share capital of Bournemouth Lifecentre Limited, company number 07701837.

The profit for the year ended 31 December 2023 was £73,537 (2022: restated profit £422,471). The profit and loss reserves were £90,806 (2022: restated £17,269).

This subsidiary has been excluded from consolidated accounts on the basis that its inclusion is not material for the purpose of giving a true and fair view.

25 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.

BOURNEMOUTH COMMUNITY CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

26
Cash generated from operations
Surplus/(deficit) for the year
Adjustments for:
Investment income recognised in statement of financial activities
Gain on disposal of tangible fixed assets
Fair value of donated investment properties
Depreciation and impairment of tangible fixed assets
Movements in working capital:
Decrease in debtors
Increase in creditors
Cash (absorbed by)/generated from operations
27
Analysis of changes in net (debt)/funds
At 1 January
2023
£
Cash at bank and in hand
116,756
Loans falling due within one year
(56,680)
Loans falling due after more than one year
(1,159,798)
(1,099,722)		 2023
2022
£
£
426,600
(438,880)
(122,443)
(11)
-
(6,245)
(460,000)
-
67,218
67,667
15,754
412,536
11,052
1,992
(61,819)
37,059
Cash flows At 31 December
2023
£
£
(27,515)
89,241
2,655
(54,025)
40,459
(1,119,339)
15,599
(1,084,123)

BOURNEMOUTH COMMUNITY CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

28 Prior period adjustment

Changes to the balance sheet

Changes to the balance sheet
At 31 December 2022
As previously Adjustment As restated
reported
£ £ £
Current assets
Debtors due within one year 552,394 (468,552) 83,842
Capital funds
Income funds
Restricted funds 108,232 - 108,232
Unrestricted funds 1,629,779 (468,552) 1,161,227
Total equity 1,738,011 (468,552) 1,269,459
Changes to the profit and loss account
Period ended 31 December 2022
As previously Adjustment As restated
reported
£ £ £
Charitable activities 363,804 468,552 832,356
Net movement in funds 29,672 (468,552) (438,880)

The prior period adjustment above relates to apportionment of establishment costs between Bournemouth Community Church and its subsidiary Bournemouth Lifecentre Limited which has been corrected to reflect the usage of the building between the entities.