**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.
- 1 -
## **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:
- Lifehouse as a signposting agency
- Foodbank, Munch Club, Time for Tea, Debt & Budget Management Support
- NHS Bloodbank and Diabetic Eye Screening
- Accommodation for other Charitable organisations serving the local community
- 5 children's and youth clubs covering 5 to 18 years
- Senior citizens group
- Dementia care group
- Family counselling
- Open days
- Community groups such as choirs
- Community conferences
- Holiday clubs for children
- Holiday activities for senior citizens
- Lecture facilities & graduation ceremonies for universities and local schools
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.
- 2 -
## **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
- 3 -
## **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:
- 1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
- 2 the financial statements do not accord with those records; or
- 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
- 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: 26 September 2024
- 4 -
## **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.
- 5 -
## **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)
- 6 -
## **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|
|---|---|---|---|---|
- 7 -
**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.
- 8 -
## **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:
- expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
- 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.
- 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 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.
- 9 -
## **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.
- 10 -
## **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|
- 11 -
## **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|
- 12 -
## **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|
- 13 -
## **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|
- 14 -
## **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.
- 15 -
## **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.
- 16 -
## **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|
- 17 -
## **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.
- 18 -
## **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)|
|---|---|
- 19 -
## **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.
- 20 -