INCOME AND EXPENDITURE ACCOUNT
Prepared for
FAITH TABERNACLE UNITED PENTECOSTAL CHURCH (CHARITY NUMBER 1106678)
For the period ended 31 December 2022
FAITH TABERNACLE UNITED PENTECOSTAL CHURCH
CHURCH INFORMATION
Charity Number 1106678
Trustees
Aubrey James Longmore Audrey Ann Marie Mcintosh Carlene Jennifer Parker Heather Derry-Welch
Registered Office
124 Newport Road New Bradwell Milton Keynes MK13 0AA
Examiners
Trackrecords Managment Services Limited The Farthing Enterprise Centre Unit 10 39 Farthing Grove Netherfield Milton Keynes MK6 4JH
FAITH TABERNACLE UNITED PENTECOSTAL CHURCH
INCOME AND EXPENDITURE ACCOUNT
FOR THE PERIOD 1st JANUARY 2022 TO 31st DECEMBER 2022
| Notes INCOME 2 Other Operating income Administrative expenses OPERATING INCOME 3 Interest receivable INCOME ON ORDINARY ACTIVITIES BEFORE TAXATION Tax on ordinary activities 4 INCOME ON ORDINARY ACTIVITIES (after tax) RETAINED INCOME CARRIED FORWARD |
2022 £ 131,712 91,227 40,485 0 40,485 0 40,485 40,485 |
2021 |
|---|---|---|
| £ 135,078 88,997 |
||
| 46,081 0 |
||
| 46,081 0 |
||
| 46,081 46,081 |
CONTINUING OPERATIONS:
None of the church's activities were acquired or discontinued during the above financial period
………………………...Pastor
A Longmore
………………………….Treasurer
T Longmore
ACCOUNTANTS REPORT
We have prepared the above accounts without carrying out an audit and from information from Faith Tabernacle UPC's books and records and explanations supplied to us
Opinion
In our opinion, the financial statement give a true and fair view of the state of the charitable company's affairs as at 31st December 2022 and of its incoming resources and application of resources, including its income and expenditure, in the year that ended and have been properly prepared in accordance with the guidance of the Charities Commission.
FAITH TABERNACLE UNITED PENTECOSTAL CHURCH
BALANCE SHEET
AS AT 31ST DECEMBER 2022
| Notes FIXED ASSETS Tangible assets 5 CURRENT ASSETS Debtors 6 Cash at bank and in hand CREDITORS 7 Amounts falling due within one year Net Current Assets/ (Liabilities) CAPITAL & RESERVES Called up share capital 8 Income & Expenditure reserve Income and expenditure account CHURCH MEMBERS FUNDS ………………………………………..Pastor A Longmore |
2022 2021 £ £ £ £ 2,416 3,221 452,764 411,474 452,764 411,474 0 0 0 452,764 411,474 455,180 414,695 455,180 414,695 0 0 414,695 368,614 40,485 46,081 455,180 414,695 |
2022 2021 £ £ £ £ 2,416 3,221 452,764 411,474 452,764 411,474 0 0 0 452,764 411,474 455,180 414,695 455,180 414,695 0 0 414,695 368,614 40,485 46,081 455,180 414,695 |
2021 |
|---|---|---|---|
| 414,695 | |||
| 414,695 | |||
| 0 368,614 46,081 |
|||
| 414,695 | |||
…………………………………………..Treasurer T Longmore
FAITH TABERNACLE UNITED PENTECOSTAL CHURCH
NOTES TO THE ACCOUNTS
1. ACCOUNTING POLICIES
a) Basis of accounting
The financial statements have been prepared under the historical cost convention.
b) Depreciation
Depreciation is provided on tangible assets at rates calculated to write off the cost of each asset over its expected useful life.
The rates used on a reducing balance are as follows:
Computer equipment 25% (100 FYA) where applicable Fixtures & fittings 25%
2. INCOME
Income includes the amount of offerings & tithes provided by members
PENSIONS
The church does not operate a pension scheme
3. OPERATING PROFIT
The operating profit is stated after charging:
| Depreciation of tangible fixed assets Pastors remuneration included Pastors pension contributions |
2022 £ 805 0 0 |
|---|---|
| 805 |
4. TAX ON ORDINARY ACTIVITIES
This represents tax @0% based on excess income for the year on ordinary activities
FAITH TABERNACLE UNITED PENTECOSTAL CHURCH
NOTES TO THE FINANCIAL STATEMENTS
5. TANGIBLE FIXED ASSETS
| Cost 1st January 2022 Additions At 31st December 2022 Depreciation Charge for the year At 31st December 2022 Net Book Value @ 31st December 2022 |
£ 3,221 0 |
|---|---|
| 3,221 | |
| 805 805 |
|
| 2,416 |
The Church also has a cash building at Market Value of £260,000 as at 4th December 2018.
6. Debtors
| Hardship Loans owed current period Other Debtors Cash in Bank and in Hand Current Account Building Fund Account (HSBC) Building Fund Account (Barclays Bank) Petty Cash Depreciation |
0 0 |
|---|---|
| 0 | |
| £ 114,259.12 153,678.92 183,484.74 536.07 805.00 |
|
| 452,763.85 |
7. CREDITORS-Amounts falling due within 1 year
| Tax Trade Creditors Social security and other taxes |
£ 0 0 0 |
|---|---|
| 0 |
8. CALLED -UP SHARE CAPITAL
Authorised
| 0 ordinary shares of £0 each Allotted, called up and fully paid 0 ordinary shares of £0 each |
£ 0 |
|---|---|
| 0 |
FAITH TABERNACLE UNITED PENTECOSTAL CHURCH
NOTES TO THE FINANCIAL STATEMENTS
9. Reconciliation of movement in members funds
| Profit for the financial year Dividends paid Shares subscribed Closing members funds |
£ 40,485 0 |
|---|---|
| 40,485 0 |
|
| 40,485 |
Depreciation
EQUIPMENT
| Desc. Date bght Premier Computer Supply Projector Leaf Funiture Sound Control Vehicle Talking Head Drums Equipment Sound Control Vehicle Equipment Equipment Sound Control Total |
Cost(BV) 5.96 14.34 19.77 114.92 93.55 44.26 41.15 92.11 1,992.25 139.37 143.63 519.70 |
Additions | Dep charge 22 1.49 3.59 4.94 28.73 23.39 11.07 10.29 23.03 498.06 34.84 35.91 129.93 |
NBV-22 4.47 10.76 14.83 86.19 70.16 33.20 30.86 69.08 1,494.19 104.53 107.72 389.78 |
|---|---|---|---|---|
| 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 |
||||
| 3,221.01 | 0.00 | 805.25 | 2,415.76 |
FAITH TABERNACLE UNITED PENTECOSTAL CHURCH DETAILED INCOME & EXPENDITURE ACCOUNT FOR THE PERIOD 1st JANUARY 2022 TO 31st DECEMBER 2022
£
£
INCOME
| Gift Aid Building Fund Tithes- Gift Aid Tithes- Non Gift Aid |
15,583.67 15,949.49 62,301.25 37,878.01 |
|---|---|
| 131,712.42 |
Expenditure
| Accountancy Advertising Bank Charge Books Care Ministry Cleaning Copyright Licence Donation Electricity Bill Equipment Expensed Fuel Gas Bill Gift Insurance Jubilee Celebrations PAYE Postage Refreshment Repairs & Maintenace Sanitary Care Software & IT Stationery & Printing Subscription Sundry Telephone Travel Unpaid Cheque UPC Ministers Tithes UPC Missions UPC Payments Visiting Minister Wages Water Bill Depreciation NET PROFIT / LOSS FOR YEAR BEFORE TAXATION |
2,300.00 635.04 410.18 1,653.68 1,058.39 1,356.80 855.28 1,208.00 1,588.02 2,795.06 1,287.83 2,391.77 4,623.92 1,392.51 5,446.71 7,564.02 281.44 393.41 3,336.55 396.91 700.05 1,078.46 279.96 2,323.04 2,074.22 181.73 320.00 4,070.00 700.00 646.00 500.00 36,482.55 90.40 805.25 91,227.18 |
|
|---|---|---|
| 40,485.24 |
ACCOUNTANTS REPORT
We have prepared the above accounts without carrying out an audit and from information from Faith Tabernacle United Pentecostal Church's books and records and explanations suppplied to us.
Trackrecords Management Services Ltd The Farthing Enterprise Centre Unit 10, 39 Farthing Grove Netherfield Milton Keynes MK6 4JH