Avery Hill Charitable Trust (A Company Limited by Guarantee)
Report and Financial Statements Year Ended 28[th] February 2022
Charity Number: 1103393 Company Number: 5039769
Avery Hill Charitable Trust
| Contents | Page |
|---|---|
| Charity Information | 1 |
| Report of Trustees | 2 |
| Independent Examiner’s Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Accounts | 9 |
| Detailed Statement of Financial Activities with Comparatives | 17 |
Avery Hill Charitable Trust
Charity Information
Working Names
The charity also operates under the names of Avery Hill Christian Fellowship and Bexley Foodbank.
Trustees and Directors
The directors of the charitable company (the charity) are its trustees for the purposes of charity law and throughout this report are collectively referred to as trustees.
Mr P Piper, Chair Ms L Adewole Mrs W Taylor Mrs A Walton
Company Secretary Mr P Piper
Key Staff Jonathan Coates: Pastor Gill Bates: Foodbank Manager
Governing Document
Memorandum and Articles of Association dated 10[th] February 2004.
Charity Registration Number 1103393
Company Registration Number 5039769
Principal Address and Registered Office Southspring Sidcup Kent DA15 8EA
Independent Examiner
Jacob Farley Stewardship 1 Lamb’s Passage London EC1Y 8AB
Bankers
Santander Barclays Bank plc PO Box 10102 167 High Street 21 Prescot Street Bromley London Kent E1 8TN BR1 1NL
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Avery Hill Charitable Trust
Report of the trustees for the year ended 28[th] February 2022
The trustees are pleased to present their report together with the financial statements of the charity for the year ending 28[th] February 2022.
Objects of the Charity
The charity is a charitable company and is governed by its memorandum and articles of association. The objects of the charity, as set out in the governing document are:
-
To promote and advance the Christian faith throughout the world generally including the worship of God, the instruction and edification of Christians; and the care and Christian instruction of young people and children and the evangelisation of nonChristians
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To relieve poverty, hardship, sickness and distress among all peoples of the world
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To promote education and training
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To support such other charities and charitable purposes as the trustees shall decide.
Summary of the Charity’s Main Activities and Achievements
The church is based at Southspring, on the Avery Hill estate in Southeast London. From the advent of the first lockdown church services moved to being held online through Zoom. Apart from the Foodbank which kept operating throughout the pandemic all other meetings were cancelled or held online. Meetings continued on Zoom at the beginning of the financial year, and as the coronavirus restrictions eased Sunday services recommenced in accordance with Government guidelines. Sunday services were also relayed on Zoom for those continuing to self-isolate. Children and youth meetings on Sunday also recommenced on a limited basis.
As the year progressed and restrictions continued to reduce Sunday attendances increased. By the end of the fiscal year more people were attending services than before coronavirus began. We benefitted from joining Welcome Churches which has resulted in a number of families from Hong Kong joining the church as well as other newcomers. Our Sunday school has also grown due to more families attending the church. The midweek prayer and bible study meetings continue to be held on Zoom with the addition of a daytime meeting for those wishing to meet in person. Springlets and Wizz Kids (the midweek after school club for junior school children) also recommenced during the year. Initially, numbers were limited due to social distancing but increased through the second half of the financial year.
As reported last year coronavirus had a significant impact on the Foodbank. As restrictions reduced and coronavirus subsided so both donations (food and cash) and grants of food reduced. Clients continued to be served outside the distribution centres and where possible food parcels were pre-prepared. The four distribution centres are situated in the Borough of Bexley and Avery Hill and all remained open during coronavirus. During the fiscal year, donations to the foodbank reduced by 16% over the previous year to 104,992 kg. This was due mainly to lower donations from local supermarkets and other organisations. Food grants reduced by 4% to 101,383 kg. The increase in food donations over and above food grants resulted in a rise in inventory. The trustees are grateful to Gill, the Foodbank Manager, volunteers and other supporters without which the Foodbank could not operate.
The church continued to support local charities whose operations meet the objects of the charity. Those supported comprised XLP, a charity based in Southeast London working with young people and Christian Resources in Bexley Schools (CRIBS). In addition, the church supported Reach London, a new initiative to galvanise churches in London to mission through prayer, training and mutual support of church leaders.
Cross cultural mission is supported by the church through iNet, a charity that provides financial and spiritual guidance, training and information to missionaries based overseas and those working cross culturally in the UK. Direct financial support was provided to three families, two of which are working overseas in Bulgaria and the Lebanon and one in the UK. The church also supports the work of Open Doors mainly through prayer for those persecuted for their faith.
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During the course of the year, the role of children, youth and families worker was split with the current incumbent Andrew Unger moving to a part time basis as children and families worker. The role of youth worker has been filled temporally by volunteers and it is planned to advertise a new part-time post in due course.
The Trustees have complied with the duty to have due regard to the public benefit guidance published by the Charity Commission.
Structure, Governance and Management
Avery Hill Charitable Trust is a charitable company limited by guarantee, incorporated on 10[th] February 2004 and registered as a charity on 26[th] April 2004. Church activities are carried out under the name of Avery Hill Christian Fellowship while that of the foodbank under the name of Bexley Foodbank. The company was established under a Memorandum of Association, which set the objects and powers of the charitable company and is governed under its Articles of Association. Membership is open to those over 18 who subscribe to the Statement of Beliefs contained in the Memorandum and Articles of Association and are accepted by the Board of trustees. There are eight members (nine in 2021) of the Company, each of whom agrees to contribute £1 in the event of the charity winding up.
In accordance with the Articles of Association the minimum number of Trustees is three. Each year one third of the Trustees are to retire and be available for election at the AGM. No person may be appointed a Trustee unless over the age of eighteen years of age and subscribes to the Statement of Beliefs. It is expected that new Trustees will be appointed from within the church. The board of trustees currently consist of four people who meet on a regular basis to administer the charity. The pastor and foodbank manager join the meetings as required.
In addition to the trustees who oversee the activities of the charity, a Leadership Team comprising five people (including a trustee) are responsible for the spiritual oversight and practical running of the church and Foodbank. Day to day activities are managed by the leadership team. Paid staff and volunteers also take responsibility for various aspects of the church and foodbank.
Financial Review
Total income for the year reduced by £118,501 to £373,547 due to lower donations to the Foodbank (both cash and donations in kind) as the impact of coronavirus receded. Church income increased by £19,539 over the period as church meetings resumed at Southspring with more people attending. Expenditure reduced by £6,741 to £345,407 due to lower foodbank grants partially offset by higher property costs due to refurbishment of the church toilets and a new fence together with the full year impact of the employment of the pastor and the increase in the Foodbank Manager’s hours. Despite the reduction in income there was a surplus for the year of £28,140 of which there was a surplus on the general fund of £5,629 and a surplus on restricted funds of £22,511.
Reserves policy
The general fund now stands at £ 161,502. The Trustees consider that unrestricted funds not committed or invested in tangible assets (“the free reserves”) held by the charity should be the sum of three months’ cash expenses and two and a half years rent, approximately £65,000. As at the 28[th] February 2022, free reserves were significantly above this amount. It is planned to use the surplus reserves with the employment of a part-time youth worker and upgrade to the building at Southspring.
The Trustees have considered the most appropriate policy for investing funds and consider that short-term deposits meet the requirement to provide income, without restricting access to the funds.
Key Risks and Uncertainties
The Trustees have conducted their own review of the major risks to which the charity is exposed and systems designed to mitigate those risks. The biggest risk is considered to be a
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significant shortfall in donations either from church members or to the foodbank which is mitigated by the reserving policy. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects. These procedures are reviewed periodically to ensure that they still meet the needs of the charity.
Plans for the Future
Assuming the coronavirus restrictions are not reinstated the following activities are planned for the coming year mostly in church but also on Zoom:
Weekly worship service Midweek prayer and bible study meetings held on Zoom with a small daytime meeting at the church Children’s and youth meetings Parent & Toddlers group N40s group for retired people After school club for children aged 6 to 10 years Bexley Foodbank Support for overseas mission Community lunch to celebrate the queens platinum jubilee
Subject to obtaining a grant the foodbank, through a suitably qualified partner, will seek to provide advice on debt and benefits to clients.
An upgrade to the main hall lighting followed by redecoration is also planned.
Responsibilities of directors under company law
The directors are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing these financial statements, the directors are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether the applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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Avery Hill Charitable Trust
Independent examiner
The Trustees intend to ask the existing examiner to undertake the independent examination of the charity next year.
Signed on behalf of the trustees
P J Piper
P J Piper (Chairman)
6[th] September 2022
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Avery Hill Charitable Trust
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF AVERY HILL CHARITABLE TRUST (“the Company”)
I report to the charity trustees on my examination of the accounts of the Company for the year ended 28th February 2022 on pages 7 to 17 following which have been prepared on the basis of the accounting policies set out on page 9 to 11.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner’s statement
Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, 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:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
J Farley
Jacob Farley ACA Institute of Chartered Accountants in England and Wales Stewardship 1 Lamb’s Passage London EC1Y 8AB
7[th] September 2022
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Avery Hill Charitable Trust
Statement of Financial Activities (Including Income and Expenditure account) for the year ended 28[th] February 2022
| Notes | Unrestricted Funds Restricted Funds Total Funds 2022 |
Total Funds 2021 |
|
|---|---|---|---|
| Income and endowments from: Donations and Legacies Charitable Activities Total Income and Endowments Expenditure on: Charitable Activities Total Expenditure Net Income/(Expenditure Reconciliation of Funds Total Funds brought forward Total Funds carried forward |
3 4 5 |
112,741 260,254 372,995 498 54 552 |
492,048 - |
| 113,239 260,308 373,547 |
492,048 | ||
| 107,610 237,797 345,407 107,610 237,797 345,407 |
352,148 352,148 |
||
| 5,629 22,511 28,140 |
139,900 | ||
| 155,873 228,605 384,478 |
244,578 | ||
| 161,502 251,116 412,618 |
384,478 | ||
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing operations.
The statement of financial activities also complies with the requirements for an income and expenditure account required by the Companies Act 2006.
The notes on page 9 to 17 form part of these accounts.
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Avery Hill Charitable Trust
Balance Sheet as at 28[th] February 2022
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Tangible Fixed Assets Current Assets Inventory Debtors & Prepayments Cash at bank Creditors: amounts falling due within one year Net Current Assets Provisions Net Assets Unrestricted Funds General Fund Restricted Funds Total Funds |
Notes 7 8 9 10 11 13 |
£ 90,816 5,811 309,183 |
£ 17,118 405,810 (2,310) 403,500 (8,000) |
£ 21,085 85,934 4,893 281,042 371,869 (3,476) 368,423 (5,000) |
|
| 412,618 | 384,478 | ||||
| 161,502 251,116 |
155,873 228,605 |
||||
| 412,618 | 384,478 | ||||
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28[th] February 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 28[th] February 2022 in accordance with Section 476 of the Companies Act 2006 however, in accordance with Section 145 of the Charities Act 2011, the accounts have been examined by an independent examiner and their report has been included in these financial statements.
The directors (who are the charitable company's trustees for the purposes of charity law) acknowledge their responsibilities for:
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a) ensuring that the charitable company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
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b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its net income or expenditure for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
The financial statements were approved by the Board of Directors on 6[th] September 2022 and were signed on its behalf by:
P J Piper
P Piper Trustee Company number: 5039768 Charity number: 1103393 The notes on pages 9 to 17 form part of these accounts.
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Avery Hill Charitable Trust
Notes forming part of the financial statements for the year ended 28[th] February 2022
1. Statutory Information
The charity is a charitable company limited by guarantee and is incorporated in the United Kingdom. The company's registered number and registered office address can be found on the Company Information page.
2. Accounting policies
These financial statements are prepared on a going concern basis, under the historical cost convention.
These financial statements have been prepared in accordance with the "Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102"), with the Companies Act 2006 and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.
The principles adopted in the preparation of the financial statements are set out below.
a) Going Concern
The trustees (who are the charitable company's directors for the purposes of company law) have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and/or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements. In making this assessment, the trustees have considered how Covid-19 might affect projections.
b) Income
Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.
Income from donations and legacies includes:
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I. Recoverable gift aid. This is recognised when the related donation is received. Gift aid that has not been recovered by the balance sheet date is included as a debtor.
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II. Donated facilities, services and goods. Goods donated for distribution to beneficiaries are recognised as income when receivable at fair value. These comprise donations to the foodbank on the basis of the value of average donation per kilogramme times the total number of kilogrammes received.
The charity relies on volunteers to carry out many of its activities. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.
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Avery Hill Charitable Trust
When donated goods, services and facilities are distributed or consumed, an expense in respect of those items is included in the Statement of Financial Activities. At the year end any goods that have not been distributed or consumed are recognised as stock; donated fixed assets are capitalised.
- III. Legacies. Income from legacies is recognised when a distribution is received from the estate or, if earlier, when the charity has been notified that a distribution will be made and the amount receivable can be measured reliably.
Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity's charitable objects. It includes income from grants and events held.
c) Expenditure
Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.
The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.
The cost of raising funds is not significant and has not been separately disclosed.
Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.
d) Fund Accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.
e) Tangible Fixed Assets
Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £2,500 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective the following rates of depreciation are charged:
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Leasehold improvements 5 years
-
Equipment 5 years
-
Vehicles 5 years
The carrying values of tangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate that the carrying value may not be recoverable.
f) Stocks
Stocks of donated items held for distribution to beneficiaries are measured at fair value.
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g) Leased Assets
Leases which do not transfer substantially all the risks and rewards of ownership to the charity are classified as operating leases. Operating lease payments are recognised as an expense on a straight-line basis over the lease term (unless another systematic basis is more representative of use).
h) Pension Scheme Arrangements
The charity operates defined contribution pension schemes for its employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds.
i) Taxation
The company is a registered charity; it has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.
j) Financial Instruments
The charity's financial assets and financial liabilities all qualify as basic financial instruments, as defined by FRS102. Creditors and debtors are measured at their expected settlement value (normally the amount of cash that the charity expects to pay or receive).
k) Exemption from Preparing a Cashflow Statement
- The charity has taken advantage of an exemption conferred by the Charities SORP and has not prepared a cash flow statement.
l) Critical Accounting Estimates and Areas of Judgement
ln preparing financial statements certain judgements, estimates and assumptions have to be made that affect the amounts recognised in the financial statements. The trustees consider the following to be significant:
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i. The annual depreciation charge for property, plant and equipment is sensitive to changes in the estimates for useful economic life and residual value. These estimates are reassessed annually and, when necessary, adjusted to reflect current circumstances.
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ii. The value of donated food and food grants are based upon the estimated value of weighed goods. If the valuation of the price per KG changed it would have a material impact on the accounts and value of inventory.
3. Donations and Legacies
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Donations of Cash and similar | 167,203 | 249,147 |
| Donations in Kind | 205,792 | 242,901 |
| Total | 372,995 | 492,048 |
Donations of cash and similar primarily consist of gifts (including Gift Aid) from those attending the church or donations to the foodbank. Donations in kind is the estimated value of food donated to the Foodbank and the provision of storage facilities from Bexley Council.
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4. Incoming resources from charitable activities
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Events | 498 | - |
| Other | 54 | - |
| Total | 552 | - |
Events consists of fees paid towards the cost of the church away day.
5. Charitable Activities
(a)
| haritable Activities ) |
||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| People | 87,189 | 77,460 |
| Fellowship Expenses | 2,179 | 2,250 |
| Premises & Equipment (note 5b) | 46,147 | 40,726 |
| Church Activities | 950 | 237 |
| Foodbank (note 5c) | 194,642 | 215,390 |
| Grants and Donations (note 5d) | 12,500 | 14,700 |
| Independent Examination Costs | 1,800 | 1,385 |
| Total | 345,407 | 352,148 |
People consist of employee related costs, including salaries of paid staff (see note 6 below).
Fellowship Expenses comprise the expenditure relating to the general expenses of the church including gifts for outside ministry costs.
Church activities consist of the various activities of the church including Youth and Sunday school as well as activities in the community such as Springlets and the afterschool club held at the church.
Fees payable to Stewardship, other than for the independent examination, for payroll bureau services, totalled (£804) (2021: £798).
(b) Premises & Equipment
Premises and Equipment consist of the payment of rent for the building at Southspring, depreciation on leasehold improvements, repairs, utilities and the purchase of equipment. The main items of expenditure are shown below:
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Rent | 24,019 | 23,698 |
| Repairs | 3,351 | 475 |
| Depreciation | 7,507 | 9,052 |
| Insurance | 2,865 | 2,316 |
| Utilities | 5,901 | 4,259 |
| Other Property Costs | 157 | 227 |
| Equipment and Software Costs | 552 | 700 |
| Total | 44,352 | 40,726 |
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(c) Foodbank
Foodbank consists of the non-staff costs of running the Foodbank and the estimated value of food granted to clients.
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Food Granted to Clients | 187,384 | 192,061 |
| Non-Staff Expenses | 6,660 | 23,329 |
| Depreciation - Van | 2,393 | - |
| Total | 196,437 | 215,390 |
(d) Grants & Donations
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| iNet & Overseas Missionaries | 10,200 | 11,200 |
| Tear Fund | - | 1,200 |
| XLP | 350 | 600 |
| Gifts to Needy | - | 500 |
| Christian Resources in Bexley | ||
| Schools | 1,200 | 1,200 |
| Reach London | 500 | - |
| Open Doors | 250 | - |
| Total | 12,500 | 17,780 |
The charity has taken advantage of an exemption conferred by the Charities SORP and has not disclosed the names of overseas missionaries as they operate in territories where Christians are persecuted; the disclosure of this information would be prejudicial.
6. Analysis of staff costs, the cost of key management and trustee remuneration and expenses
The number of employees at the end of the year was five (two full time and three parttime).
No staff received salaries at a rate of more than £60,000 per annum.
Remuneration paid to key management amounted to £ 62,886 in the year (2021: £71,091). Key management is considered to be the Pastor and the Foodbank Manager.
The company operates a defined contribution scheme for certain of its employees. Pension premiums are charged as they are paid.
The average monthly number of employees during the year was 5 (2021: 5). Most of the charity's activities are carried out by volunteers.
No trustee received employment benefits or reimbursed for expenses in either the current or preceding year.
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7. Tangible Assets
Tangible assets comprise leasehold improvements and the purchase of equipment.
| Leasehold | Vehicles | Total | |
|---|---|---|---|
| Improvement | |||
| s | |||
| £ | £ | £ | |
| Cost | |||
| At 1stMarch 2021 | 55,846 | 11,965 | 67,811 |
| Additions | 5,933 | - | 5,933 |
| Disposals | - | - | - |
| At 28th February 2022 | 61,779 | 11,965 | 73,744 |
| Accumulated depreciation | |||
| At 1stMarch 2021 | 46,726 | - | 46,726 |
| Charge for the year | 7,507 | 2,393 | 9,900 |
| At 28th February 2022 | 54,233 | 2,393 | 56,626 |
| Net Book Value | |||
| At 28th February 2022 | 7,546 | 9,572 | 17,118 |
| At 29thFebruary2021 | 9,120 | 11,965 | 21,085 |
Leasehold improvements to the church building comprise works to the kitchen, boiler and improving the layout of the entrance hall and ancillary rooms. The addition in the year was for the installation of a new fence along the property boundary. The vehicle consists of a van for the foodbank.
8. Inventory
Inventory consists of the value of the stock of donated food held at the end of the financial year.
9. Debtors
Debtors comprise the following:
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| HMRC Charities | 2,871 | 3,005 |
| Prepayments | 2,940 | 1,888 |
| Total | 5,811 | 4,893 |
10. Creditors
All creditors are due within one year.
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Creditors | - | 1,334 |
| Accruals | - | 690 |
| British Gas | 450 | - |
| Independent Examination | 1,860 | 1,440 |
| Other | - | 12 |
| Total | 2,310 | 3,476 |
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11. Provisions
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Provisions brought forward | 5,000 | 3,000 |
| Movement in year | ||
| New Provisions | 3,000 | 2,000 |
| Amounts charged against the provision | - | - |
| Unused provision released | - | - |
| Total | 8,000 | 5,000 |
Provisions are for the electricity provided to the church building at Southspring. Electricity is being provided but not charged for by the supplier British Gas. Attempts to obtain a bill from the supplier has proved difficult and so the timing of any payment due is uncertain.
12. Pension Commitments
During the year employer’s pension contributions totalling £5,628 (2021: £4,753) were payable to defined contribution personal pension schemes. No pension contributions were owing at the balance sheet date (2021: £nil).
13. Funds
During the year the movement in the charity’s funds were as follows:
| Funds at | Incoming | Outgoing | Funds at | |
|---|---|---|---|---|
| 28/2/21 | Resources | Resources | 29/2/22 | |
| £ | £ | £ | £ | |
| Restricted Funds | ||||
| Foodbank | 226,777 | 259,179 | 237,363 | 248,593 |
| Humanitarian | 480 | 300 | 274 | 506 |
| Missionaries | 3 | 775 | - | 778 |
| Parents & Toddlers | 903 | 54 | 160 | 797 |
| Youth | 442 | - | - | 442 |
| Total restricted funds | 228,605 | 260,308 | 237,797 | 251,116 |
| Unrestricted Funds | ||||
| General | 155,873 | 113,239 | 107,610 | 161,502 |
| Total unrestricted funds | 155,873 | 113,239 | 107,610 | 161,502 |
| Total Funds | 384,478 | 373,547 | 345,407 | 412,618 |
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Analysis of net assets by fund
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | ||
| £ | £ | £ | |
| Fixed Assets | 7,546 | 9,572 | 17,118 |
| Inventory | - | 90,816 | 90,816 |
| Debtors | 4,491 | 1,320 | 5,811 |
| Cash at Bank | 158,845 | 150,338 | 309,183 |
| Creditors | (9,380) | (930) | (10,310) |
| Total | 161,502 | 251,116 | 412,618 |
In the previous year, the assets and liabilities of the various funds were as follows:
| Funds at | Incoming | Outgoing | Funds at | |
|---|---|---|---|---|
| 28/2/20 | Resources | Resources | 28/2/21 | |
| £ | £ | £ | £ | |
| Restricted Funds | ||||
| Foodbank | 82,364 | 397,219 | 252,806 | 226,777 |
| Humanitarian | 480 | 500 | 500 | 480 |
| Missionaries | 603 | 300 | 900 | 3 |
| Parents & Toddlers | 903 | - | - | 903 |
| Youth | 442 | - | - | 442 |
| Total restricted funds | 84,792 | 398,019 | 254,206 | 228,605 |
| Unrestricted Funds | ||||
| General | 159,786 | 94,029 | 97,942 | 155,873 |
| Total unrestricted funds | 159,786 | 94,029 | 97,942 | 155,873 |
| Total Funds | 244,578 | 492,048 | 352,148 | 384,478 |
Analysis of net assets by fund
| General | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | ||
| £ | £ | £ | |
| Fixed Assets | 9,120 | 11,965 | 21,085 |
| Inventory | - | 85,934 | 85,934 |
| Debtors | 4,386 | 507 | 4,893 |
| Cash at Bank | 150,603 | 130,439 | 281,042 |
| Creditors | (8,236) | (240) | (8,476) |
| Total | 155,873 | 228,605 | 384,478 |
Purpose of restricted funds
Foodbank: This relates to gifts received and payments made for the Bexley Foodbank provided by the church. This includes gifts received and grants made in kind of food and other items.
Humanitarian: This is a fund for the relief of poverty or humanitarian relief. Missionaries: The fund is for the support of three missionary families. Parents & Toddlers: Funds in relation to the Parents & Toddlers group run by the church.
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Avery Hill Charitable Trust
Property & Equipment: A fund to meet the costs of improving the church building and the purchase of equipment.
Youth: A fund to provide equipment for and decoration of the meeting room used by the youth meeting at the church.
14. Lease Commitments
Obligations under operating leases comprise the following:
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Within one year | 14,130 | 14,130 |
| Between one and five years | 32,970 | 47,099 |
| Greater than five years | - | - |
| Total | 47,100 | 61,229 |
15. Transactions with Related Parties
There have been no transactions with related parties during the year. The total amount donated to the charity by trustees and key staff was £ 65,655 (2021: £60,348).
One of the trustees, Paul Piper is also a trustee of iNet Trust Limited a missions agency. During the year the company made donations totalling £ 2,400 (2021: £ 2,500)
16. Members
Each member of the company commits to contribute if the charity is wound up an amount of £1.
Detailed Statement of Financial Activities with Comparatives
| Total | Total | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted Funds | Restricted Funds | Funds | Funds | ||||
| Note | 2022 | 2021 | 2022 | 2021 | 2022 | 2021 | |
| Incoming resources | |||||||
| from generated funds: | £ | £ | £ | £ | £ | £ | |
| Donations and Legacies | 3 | 112,741 | 94,029 | 260,254 | 398,019 | 372,995 | 492,048 |
| Charitable Activities | 4 | 498 | - | 54 | - | 552 | - |
| Total Income | 113,239 | 94,029 | 260,308 | 398,019 | 373,547 | 492,048 | |
| Resources Expended | |||||||
| Charitable Activities | 5 | 107,610 | 97,942 | 237,797 | 254,206 | 345,407 | 352,148 |
| Net Incoming | |||||||
| Resources for the Year | 5,629 | (3,913) | 22,511 | 143,813 | 28,140 | 139,900 | |
| Reconciliation of Funds: | |||||||
| Total Funds Brought | |||||||
| Forward | 155,873 | 159,786 | 228,605 | 84,792 | 384,478 | 244,578 | |
| Total Funds Carried | |||||||
| Forward | 161,502 | 155,873 | 251,116 | 228,605 | 412,618 | 384,478 |
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