REGISTERED COMPANY NUMBER: 05518551 (England and Wales) REGISTERED CHARITY NUMBER: 1111189
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2021
for
Ipswich Community Church
S R Renvoize Ltd 1 Arwela Road Felixstowe Suffolk IP11 2DG
Ipswich Community Church
Contents of the Financial Statements for the Year Ended 31 December 2021
| Page | |
|---|---|
| Report of the Trustees | 1 to 6 |
| Independent Examiner's Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 to 10 |
| Notes to the Financial Statements | 11 to 20 |
| Detailed Statement of Financial Activities | 21 |
Ipswich Community Church
Report of the Trustees
for the Year Ended 31 December 2021
The trustees have pleasure in presenting their report and the financial statements for the period ended 31 December 2020. This report incorporates the directors report, as required by law. The Company was registered on 26 July 2005 as a Company Limited by Guarantee and subsequently registered as a Charity.
Name
The name of the charitable company is Ipswich Community Church.
Principal activity and vision statement
The principal activity of the charitable company is to operate as a Church congregation in Ipswich to advance the Christian Faith. Our vision statement is "We exist to please God and to transform our world by becoming ourselves, and making of others, mature whole-life disciples (apprentices) of Jesus Christ".
Page 1
Ipswich Community Church
Report of the Trustees for the Year Ended 31 December 2021
ACHIEVEMENT AND PERFORMANCE
The Church started meeting as a small group in a house in early January 2005 and decided to gather as a congregation on 16 January 2005 using the Hall and other facilities provided by Thurleston High School (which subsequently became Ormiston Endeavour Academy), Defoe Road, Ipswich.
The Church has with effect from 27 May 2012 moved its main activities to its new Church Centre, Wilberforce Street, Ipswich, IP1 2JP, premises previously owned and occupied by Clarkson Street Free Church ("the church Centre"). On 1st May 2012 the legal title to the church centre was transferred to the Church (together with that to a freehold residential property at 19 Elmhurst Drive, Ipswich, which had previously been the Clarkson Street Free Church manse) without payment of any consideration as part of an arrangement whereby the charity called Clarkson Street Free Church was dissolved and merged into Ipswich Community Church
The Church is led by an overall leader assisted by a team of departmental and small group leaders and the trustees. And, this year we have developed a Transition Team to assist in the change of overall Church Leader as Rod Stone is retiring in April 2022.
The charitable company continues to develop its core activities including Sunday Celebrations, Friendship Groups, Prayer Meetings, Alpha & Beta Courses and other courses to develop and strengthen the faith of our Members.
It was recognized that there was a demand for improving English skills within the multi-ethnic neighbourhood surrounding the church centre, and so English for Speakers of Other Languages (ESOL) Courses have been run both by the Church on its own account and in partnership with local community interest company, Ipswich Community Media.These haven't been running for the last couple of years but we intend to restart these when we have the ability to do so.
A crèche and 2 children's groups operate on a Sunday morning during the main celebration and a "Connected Youth Friendship Group" on Monday evenings..
In the past, the church has contributed teams to the Ipswich Soup Kitchen and Town Pastors. This is not happening currently.
We employed a part time youth worker in partnership with a local Charity (Christian Youth Ministry) from November 2017 to June 2018. We look for opportunities to grow this work again. A member of our church is a trustee with CYM and another member works with Youth For Christ in Diss, Norfolk.
Interest in our web site www.icchurch.co.uk continues to be evidenced. We have used our presence on Facebook to help publicise our activities and our services have been of a hybrid nature for those using Zoom during the time of the Covid-19 pandemic. This has continued for Sunday mornings as well as for Friendship Groups. We also publicise our preaches on the website, on Facebook and on YouTube.
Over the years, the church has organized and hosted a number of neighbourhood events. These have included a Royal Tea Party on Tuesday 5 June 2012 as part of the celebrations for the Queen' Diamond Jubilee and some 250 local residents joined in the fun. We also took part in the Queens 90th birthday celebrations and helped in the organising of a street party. We joined with our neighbours in July 2019 to help run a street party where we provided hot dogs.
Page 2
Ipswich Community Church
Report of the Trustees
for the Year Ended 31 December 2021
Alternative Halloween events have been held occasionally and these have proved popular in the locality and resulted in additional students on our ESOL Courses and Alpha participants. We've held a number of community Mad Hatter's Tea Parties. A Halloween party was held in October 2018. We gave away hot dog sausages for this year's Halloween and have also given daffodil bulbs to the neighbouring houses around our Church Centre for Easter 2021 (about 200 in all).
In 2021 we continued to curtail our congregational activities in the Church Centre until June 2021 and hadn't physically met in any premises since March 2020 due to the Covid-19 Pandemic. This has moved all of our activities online and we have used Zoom and YouTube (we set up a new YouTube Channel for ICC) and have been posting our videos to YouTube and to Facebook.We have continued to look for ways to reach out to the local community and delivered daffodil bulbs to around 200 neighbouring homes for Easter 2021 and we gave hot sausage dogs to passers by at Halloween 2021. We have also recently run two Alpha courses online.
We are continuing to seek to identify the other needs of the local community and, whilst ensuring that we do not overlap or duplicate activities that are already being offered in the area, we will be doing our best to see how the Church can respond in the days ahead. In 2016 we sold the Elmhurst Road property and replaced it with the residential property immediately adjacent to the church centre on its Clarkson Street frontage (41, Clarkson Street). This has been let to a charity called Anglia Care Trust under the terms of the Government's Scheme for settling Syrian refugees and a refugee family have been in occupation since September 2016
During the year the trustees have paid due regard to the guidance issued by the Charity Commission on public benefit.
Page 3
Ipswich Community Church
for the Year Ended 31 December 2021
Report of the Trustees
FINANCIAL REVIEW
General fund
The general fund shown in the Balance Sheet represents funds not utilized in the company's 17 years of operation since January 2005.
Financial results and state of affairs
The total income for the year was £56,118 (2020 £57,333). Expenditure was £43,042 (2020 £62,940). These figures were in accordance with our expectations.
Investment Policy
The company's investment policy is to achieve maximum returns given medium to low risk. Investments are deemed short term and are currently invested in cash on deposit.
Reserves policy
The trustees have agreed that reserves will be held to cover 6 months of normal expenditure (based on the current budget for the next 6 months, or, if no budget is in place for that period, previous 6 months actuals). The calculations for this would not include restricted funds or specific special projects for which funds have been designated. The purpose of this policy is to provide adequate time to adjust to changing circumstances and to make necessary adjustments to expenditure should the need arise.
The actual free reserves at the end of the year in general reserves is £252,468 (2020 - £239,392) less carrying value of functional assets of £291,269 (2020 - £291,269) which is a deficit of £38,801 (2020 - £51,877). The trustees note that the current low free reserves is attributable to the fact the definition excludes the functional fixed assets, but it includes the long term loan that is secured on those assets. For the purposes of short and medium term financial management, the trustees are concerned more with the management of working capital, and if the reserves calculation is adjusted by the loan term loan, then the reserves policy is currently being met.
Page 4
Ipswich Community Church
for the Year Ended 31 December 2021
Report of the Trustees
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document and constitutes a private limited company, limited by guarantee, as defined by the Companies Act 2006.
The governing instrument for the charitable company is its Memorandum and Articles of Association. The charitable company was incorporated on 26 July 2005 limited by guarantee and not having a share capital. There are no specific restrictions imposed in the Memorandum or Articles of Association concerning the way the charitable company can operate.
The investment powers given within the Memorandum of Association are as follows:
'To invest the monies of the Charity not immediately required for its Objects in or upon such investments, securities or property as the Directors think fit subject to such conditions and consents as are imposed by law.'
The objects of the charitable company are:
The advancement of the Christian Faith in accordance with the Statement of Belief in Ipswich and the County of Suffolk, and in other parts of the United Kingdom and overseas, by such means as the Directors shall think fit including but not limited to the planting of new churches and the organization of congregations;
The relief of persons who are in a condition of need arising from poverty, hardship, distress or as a result of local, national or international emergency or disaster or who are aged or sick;
The advancement of education including but not limited to the advancement of education on the basis of the principles set out in the Statement of Belief;
Such other charitable objects as the Directors shall in their absolute discretion from time to time think fit.
Induction and training of new trustees
New trustees are offered informal induction training along with the information necessary for them to fulfil their duties as a trustee.
Risk management
The trustees have identified the major risks to which the charity is exposed and have taken steps to mitigate these risks.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
05518551 (England and Wales)
Registered Charity number
1111189
Page 5
Ipswich Community Church
Report of the Trustees
for the Year Ended 31 December 2021
Registered office
ICC Centre Wilberforce Street Ipswich Suffolk IP1 2JP
Trustees
Mr P Bolton Mr J I Clarke Mr S Jolata Mr P J Hill
Independent Examiner
Mr S R Renvoize ACA S R Renvoize Ltd 1 Arwela Road Felixstowe Suffolk IP11 2DG
Solicitors
KMA Solicitors 25 St Margaret's Green Ipswich Suffolk
Leader
Mr R P Stone
Bankers
Lloyds Bank PLC Cornhill North Ipswich Suffolk
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 4 March 2022 and signed on its behalf by:
Mr P Bolton - Trustee
Page 6
Independent Examiner's Report to the Trustees of Ipswich Community Church
Independent examiner's report to the trustees of Ipswich Community Church ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2021.
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
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:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
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.
Mr S R Renvoize ACA S R Renvoize Ltd 1 Arwela Road Felixstowe Suffolk IP11 2DG
Date: .............................................
Page 7
Ipswich Community Church
Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 December 2021
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 3 41,875 Other income 4 13,043 Total 54,918 EXPENDITURE ON Charitable activities 5 Church related costs 40,484 Giving 1,358 Total 41,842 NET INCOME/(EXPENDITURE) 13,076 RECONCILIATION OF FUNDS Total funds brought forward 239,392 TOTAL FUNDS CARRIED FORWARD 252,468 |
Restricted funds £ 1,200 - 1,200 - 1,200 1,200 - - - |
31.12.21 Total funds £ 43,075 13,043 56,118 40,484 2,558 43,042 13,076 239,392 252,468 |
31.12.20 Total funds £ 44,842 12,491 57,333 61,510 1,430 62,940 (5,607) 244,999 239,392 |
|---|---|---|---|
The notes form part of these financial statements
Page 8
Ipswich Community Church
Balance Sheet
31 December 2021
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 11 291,269 CURRENT ASSETS Debtors 12 5,816 Cash at bank 27,938 33,754 CREDITORS Amounts falling due within one year 13 (6,144) NET CURRENT ASSETS 27,610 TOTAL ASSETS LESS CURRENT LIABILITIES 318,879 CREDITORS Amounts falling due after more than one year 14 (66,411) NET ASSETS 252,468 FUNDS 17 Unrestricted funds TOTAL FUNDS |
Restricted funds £ - - - - - - - - - |
31.12.21 Total funds £ 291,269 5,816 27,938 33,754 (6,144) 27,610 318,879 (66,411) 252,468 252,468 252,468 |
31.12.20 Total funds £ 291,269 4,196 23,557 27,753 (7,591) 20,162 311,431 (72,039) 239,392 239,392 239,392 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.
The notes form part of these financial statements
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Ipswich Community Church
Balance Sheet - continued 31 December 2021
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(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 surplus or deficit 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.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 4 March 2022 and were signed on its behalf by:
Mr P Bolton - Trustee
The notes form part of these financial statements
Page 10
Ipswich Community Church
Notes to the Financial Statements for the Year Ended 31 December 2021
1. COMPANY STATUS
Ipswich Community Church is a private company limited by guarantee and not having a share capital and is a registered charity and is accordingly exempt from taxation on its charitable activities.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Financial reporting standard 102 - reduced disclosure exemptions
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
(a) Gift aid donations, ordinary donations, dividends and income from other activities - amount receivable during the period.
(b) Gifts in kind are accounted for when the charity has entitlement to the gift and there is virtual certainty of its receipt and its monetary value can be measured reliably. Gifts in kind are valued at market valuations.
(c) Tax repayments in respect of tax reclaimed on gift aid donations and investment interest - included in the period in which the related income is received.
(d) Interest - on a receivable basis for the financial year.
- (e) Grants received for revenue expenditure and for capital assets are recognised in the statement of financial activity in the accounting period in which it is reasonably certain that the grant will be received.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
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Ipswich Community Church Notes to the Financial Statements - continued for the Year Ended 31 December 2021
2. ACCOUNTING POLICIES - continued
Tangible fixed assets
Tangible fixed assets are stated at cost (or estimated donation value) less depreciation. The lower limit for capitalizing an asset is £2,000. Depreciation is provided at rates calculated to write off the cost less estimated residual value over it's expected useful life, as follows:
Freehold land and buildings (no depreciation as property is expected to be maintained to such a standard that their residual value are expected to be approximately the same as cost). Equipment over 3 years (straight line)
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Following the requirements of the Statement of Recommended Practice all the funds of Ipswich Community Church have been analysed over the different types of funds which are:-
Restricted funds:-
Restricted funds are those where the donor has imposed restrictions on how the fund may be used, but which do not prevent the fund being spent.
Unrestricted funds:-
Unrestricted funds are those which are not subject to any special restrictions and they can be used as the trustees decide. Designated funds are part of unrestricted funds and are amounts the trustees have set aside to cover particular expenditure.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Going concern basis
There is no material uncertainty regarding the fact that these accounts have been prepared on the going concern basis.
Public Benefit Entity.
The charity is a public benefit entity.
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Ipswich Community Church
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
3. DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | ||
|---|---|---|
| 31.12.21 | 31.12.20 | |
| £ | £ | |
| Donations | 11,766 | 8,473 |
| Gift aid donations | 23,700 | 23,299 |
| Income tax recoverable | 5,609 | 5,630 |
| Grants | 2,000 | 7,440 |
| 43,075 | 44,842 |
The donations arise from gifts given by church members and by offerings made in church meetings. Many members provided services free, which has not been recognized in these accounts.
Grants received, included in the above, are as follows:
| 31.12.21 | 31.12.20 | |
|---|---|---|
| £ | £ | |
| Suffolk County Council | 2,000 | 5,000 |
| Ipswich Borough Council | - | 2,440 |
| 2,000 | 7,440 |
The grants received were for the repair of the perimeter fence, which was completed and paid for in the previous accounting period.
4. OTHER INCOME
Other income primarily relates to residential letting.
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Ipswich Community Church
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
5. CHARITABLE ACTIVITIES COSTS
| 5. | CHARITABLE ACTIVITIES COSTS | ||||
|---|---|---|---|---|---|
| Support | |||||
| Direct | costs (see | ||||
| Costs | note 6) | Totals | |||
| £ | £ | £ | |||
| Church related costs | 39,617 | 867 | 40,484 | ||
| Giving | 2,558 | - | 2,558 | ||
| 42,175 | 867 | 43,042 | |||
| 6. | SUPPORT COSTS | ||||
| Governance | |||||
| costs | |||||
| £ | |||||
| Church related costs | 867 | ||||
| 7. | NET INCOME/(EXPENDITURE) | ||||
| Net income/(expenditure) is stated after charging/(crediting): | |||||
| 31.12.21 | 31.12.20 | ||||
| £ | £ | ||||
| Independent examiners' fee | 867 | 850 | |||
| Interest paid | 2,759 | 2,943 |
The transfer between funds net to NIL in this year and in the comparative period.
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
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Ipswich Community Church
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
| 9. | STAFF COSTS | |||
|---|---|---|---|---|
| 31.12.21 | 31.12.20 | |||
| £ | £ | |||
| Wages and salaries | 24,478 | 31,278 | ||
| Social security costs | - | 313 | ||
| Other pension costs | 2,400 | 2,400 | ||
| 26,878 | 33,991 | |||
| The average monthly number of employees during the year was as follows: | ||||
| 31.12.21 | 31.12.20 | |||
| Leader | 1 | 1 | ||
| No employees received emoluments in excess | of £60,000. | |||
| There is one full time employee. | ||||
| 10. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | |||
| Unrestricted | Restricted | Total | ||
| funds | funds | funds | ||
| £ | £ | £ | ||
| INCOME AND ENDOWMENTS FROM | ||||
| Donations and legacies | 44,842 | - | 44,842 | |
| Other income | 12,491 | - | 12,491 | |
| Total | 57,333 | - | 57,333 | |
| EXPENDITURE ON | ||||
| Charitable activities | ||||
| Church related costs | 61,510 | - | 61,510 | |
| Giving | 1,430 | - | 1,430 | |
| Total | 62,940 | - | 62,940 | |
| NET INCOME/(EXPENDITURE) | (5,607) | - | (5,607) | |
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 244,999 | - | 244,999 |
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Ipswich Community Church
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
| 10. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | |
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| funds | funds | funds | ||
| £ | £ | £ | ||
| TOTAL FUNDS CARRIED FORWARD | 239,392 | - | 239,392 | |
| 11. | TANGIBLE FIXED ASSETS | |||
| Equipment, | ||||
| fixtures | ||||
| Freehold | and | |||
| property | fittings | Totals | ||
| £ | £ | £ | ||
| COST | ||||
| At 1 January 2021 and | ||||
| 31 December 2021 | 291,267 | 14,440 | 305,707 | |
| DEPRECIATION | ||||
| At 1 January 2021 and | ||||
| 31 December 2021 | - | 14,438 | 14,438 | |
| NET BOOK VALUE | ||||
| At 31 December 2021 | 291,267 | 2 | 291,269 | |
| At 31 December 2020 | 291,267 | 2 | 291,269 |
The freehold property includes a residential property adjacent to the church centre, 41 Clarkson Street, Ipswich. The primary purpose of the property is to enhance the activities of the church. In the current year, the property is let for occupation by a Syrian refugee family under the terms of the government scheme for settling them in UK.
The trustees consider that the carrying value of the tangible fixed assets is materially the same as the market value.
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Ipswich Community Church
| Notes to the Financial Statements-continued | Notes to the Financial Statements-continued | ||
|---|---|---|---|
| for the Year Ended 31 December 2021 | |||
| 12. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 31.12.21 | 31.12.20 | ||
| £ | £ | ||
| Other debtors | 2,818 | 2,134 | |
| Prepayments | 2,998 | 2,062 | |
| 5,816 | 4,196 | ||
| 13. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 31.12.21 | 31.12.20 | ||
| £ | £ | ||
| Bank loans and overdrafts (see note 15) | 4,794 | 3,960 | |
| Other creditors | 342 | 2,641 | |
| Accrued expenses | 1,008 | 990 | |
| 6,144 | 7,591 | ||
| 14. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||
| 31.12.21 | 31.12.20 | ||
| £ | £ | ||
| Bank loans (see note 15) | 66,411 | 72,039 | |
| 15. | LOANS | ||
| An analysis of the maturity of loans is given below: | |||
| 31.12.21 | 31.12.20 | ||
| £ | £ | ||
| Amounts falling due within one year on demand: | |||
| Bank loans | 4,794 | 3,960 | |
| Amounts falling due in more than five years: | |||
| Repayable by instalments: | |||
| Bank loans more 5 yr by instal | 66,411 | 72,039 |
The loan commenced in July 16. It is a 17 year loan, repayable in instalments, with an interest rate of 4%.
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Ipswich Community Church
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
16. SECURED DEBTS
The following secured debts are included within creditors:
| 31.12.21 | 31.12.20 | |
|---|---|---|
| £ | £ | |
| Bank loans | 71,205 | 75,999 |
The bank loan is secured on the residential property next to the church. This property has a carrying value of £213,017 at the end of this accounting period and the comparative accounting period.
17. MOVEMENT IN FUNDS
| At 1.1.21 £ Unrestricted funds General fund 239,392 TOTAL FUNDS 239,392 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 54,918 Restricted funds Uganda Covid Fund 1,200 TOTAL FUNDS 56,118 |
Net movement in funds £ 13,076 13,076 Resources expended £ (41,842) (1,200) (43,042) |
At 31.12.21 £ 252,468 252,468 Movement in funds £ 13,076 - 13,076 |
|---|---|---|
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Ipswich Community Church
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
17. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net movement At 1.1.20 in funds £ £ Unrestricted funds General fund 244,999 (5,607) TOTAL FUNDS 244,999 (5,607) Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 57,333 (62,940) TOTAL FUNDS 57,333 (62,940) A current year 12 months and prior year 12 months combined position is as follows: Net movement At 1.1.20 in funds £ £ Unrestricted funds General fund 244,999 7,469 TOTAL FUNDS 244,999 7,469 |
At 31.12.20 £ 239,392 239,392 Movement in funds £ (5,607) (5,607) At 31.12.21 £ 252,468 252,468 |
|---|---|
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Ipswich Community Church
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
17. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 112,251 | (104,782) | 7,469 |
| Restricted funds | |||
| Uganda Covid Fund | 1,200 | (1,200) | - |
| TOTAL FUNDS | 113,451 | (105,982) | 7,469 |
18. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2021.
19. ULTIMATE CONTROLLING PARTY
There is no ultimate controlling party, both at the end of this accounting period and at the end of the comparative accounting period.
20. INDEPENDENT EXAMINER
The independent examiner, Mr S R Renvoize, has signified his willingness to continue in office - a resolution to reappoint him as independent examiner will be proposed at the forthcoming annual general meeting.The cost of the independent examination was £867 (2020 - £850).
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Ipswich Community Church
Detailed Statement of Financial Activities for the Year Ended 31 December 2021
| Detailed Statement of Financial Activities for the Year Ended 31 December 2021 |
||||
|---|---|---|---|---|
| 31.12.21 | 31.12.20 | |||
| Unrestricted | Restricted | Total | Total | |
| funds | funds | funds | funds | |
| £ | £ | £ | £ | |
| INCOME AND ENDOWMENTS | ||||
| Donations and legacies | ||||
| Donations | 11,126 | 640 | 11,766 | 8,473 |
| Gift aid donations | 23,140 | 560 | 23,700 | 23,299 |
| Income tax recoverable | 5,609 | - | 5,609 | 5,630 |
| Grants | 2,000 | - | 2,000 | 7,440 |
| 41,875 | 1,200 | 43,075 | 44,842 | |
| Other income | ||||
| Interest received | 3 | - | 3 | 10 |
| Rent receivable | 13,040 | - | 13,040 | 12,481 |
| 13,043 | - | 13,043 | 12,491 | |
| Total incoming resources | 54,918 | 1,200 | 56,118 | 57,333 |
| EXPENDITURE | ||||
| Charitable activities | ||||
| Wages | 24,478 | - | 24,478 | 31,278 |
| Social security | - | - | - | 313 |
| Pensions | 2,400 | - | 2,400 | 2,400 |
| Building costs | 4,759 | - | 4,759 | 20,148 |
| Rental expenses including interest | 3,062 | - | 3,062 | 3,031 |
| Other operating expenses | 4,918 | - | 4,918 | 3,490 |
| Giving: General fund | 1,358 | - | 1,358 | 1,430 |
| Giving: Restricted funds | - | 1,200 | 1,200 | - |
| 40,975 | 1,200 | 42,175 | 62,090 | |
| Support costs | ||||
| Governance costs | ||||
| Independent examiner | 867 | - | 867 | 850 |
| Total resources expended | 41,842 | 1,200 | 43,042 | 62,940 |
| Net (expenditure)/income | 13,076 | - | 13,076 | (5,607) |
This page does not form part of the statutory financial statements
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