ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
Citycoast Trust
(A company limited by guarantee) Charity registration number: 1111355 Company registration number: 05517061
Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Bosham, Chichester West Sussex PO18 8NF
CITYCOAST TRUST
CONTENTS
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 6 |
| Independent Examiner's Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 to 10 |
| Notes to the Financial Statements | 11 to 23 |
CITYCOAST TRUST
REFERENCE AND ADMINISTRATIVE DETAILS
Trustees Simon Lewis Colin Spicer Jamie Harland Jarrod Kelly Claire Howarth (appointed 22 June 2022) Secretary Simon Lewis Charity Registration 1111355 Number Company Registration 05517061 Number The charity is incorporated in England. Registered Office North Street Hove Brighton East Sussex BN41 1DG Independent Examiner G W Schulz ACMA Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Bosham, Chichester West Sussex PO18 8NF Bankers Lloyds Bank plc 57-58 Station Road Portslade East Sussex BN41 1DF
Page 1
CITYCOAST TRUST
TRUSTEES' REPORT
The Trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2022.
Objectives and activities
Structure, governance and management
Nature of governing document
Citycoast Trust is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.
Recruitment and appointment of Trustees
The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association.
Induction and training of Trustees
Each new director is provided with the relevant Charity Commission publications, a copy of the constitution and at a meeting with the Chairman fully briefed on the operation of the company and the responsibility of the directors.
Organisational structure
The charitable company is based in Portslade, Brighton and works in the catchment area of Brighton and Hove. The directors facilitate the work through regional house groups as well as through community based projects which include working with youth, young adults and children.
Risk management
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.
Objects and aims
The charitable company is the administrative vehicle for the activities of Citycoast Trust.
The charitable company is a non-governmental, non-political organisation formed in September, 2005.
The Articles of Association define the objectives as being:
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The advancement of the Christian Faith in accordance with the doctrines set out therein.
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The relief of persons who are in conditions of need, hardship or distress, aged or sick.
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To promote support and encourage voluntary activities that advance education, culture and spiritual welfare and provide recreational and leisure activities in the interests of social welfare in the local community, Brighton and Hove and areas of benefit where we can make a difference without distinction of race, sex, political, religious or other opinion.
Page 2
CITYCOAST TRUST
TRUSTEES' REPORT
Public benefit
The Trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Achievements and performance
General
The Trustees meet every 4 – 6 weeks to ensure that the charity operates in compliance with relevant regulations and guidelines, and charity and company law, as well as overseeing the charity finances, staff and facilities and dealing with any other relevant issues. Between the full Trustees meetings, sub-committees meet to look in greater detail at the assets and staff of the organisation and then feedback to a full meeting of the Trustees.
During the last financial year, CityCoast Church continued to operate in line with the government’s COVID-19 restrictions and guidelines. Online services and groups were held as an alternative means for forwarding the vision of the organisation, while still meeting in person with restrictions in place at any given time. Despite the pandemic, new people have joined the church, although overall attendance is lower than it was pre-pandemic (March 2020).
The advancement of the Christian faith in accordance with the doctrines set out therein
Various initiatives have either started or continued during the last financial year to advance the Christian faith.
The Alpha Course was run, both in person and online, from September to December 2021. Over 150 people attended the course which provided people the opportunity to explore and develop their faith. The course also provided opportunities for friendships to be developed and community strengthened after pandemic restrictions had been reduced.
Our annual Christmas events took place this year incorporating carol services etc.
New Christians’ classes have also been held to teach and train new Christians in foundational doctrines and Christian living.
Prayer meetings have continued over the last year with regular early morning meetings on Zoom.
The work with children and young people has continued, despite the pandemic, with groups for different ages: CityKids (2 – 11 years), Verve Youth (11 – 18 years) and Verve Young Adults (18 – 30 years).
In person and online home groups, where people meet to develop relationships and their faith, continue to meet people’s basic pastoral needs. In person and online counselling and prayer have also been available.
Page 3
CITYCOAST TRUST
TRUSTEES' REPORT
The church is part of Brighton and Hove Faith in Action, which aims to promote working together between different faith groups.
The relief of persons who are in conditions of need, hardship, poverty or distress or aged or sick
CityCoast Care has been set up during the last financial year to develop and oversee projects in the local community. Specifically, Christmas hampers were provided to both men and women living in local hostels. The funding for this project came from Brighton & Hove City Council, but other donations were provided by members of CityCoast Church.
During the last financial year, the church has seen growth in its group for older people in the local community, TeaTimeTalk, once events could be held again. Working with another local charity, Time to Talk Befriending, the group provides a free afternoon tea every month. Up to 60 older people take part and feedback has been very positive.
The church has also provided financial support to people in need through its welfare fund.
To promote support and encourage voluntary activities that advance education, culture and spiritual welfare and provide recreational and leisure activities in the interests of social welfare in the local community, Brighton and Hove and areas of benefit where we can make a difference without distinction of race, sex, political, religious or other opinion
During the financial year, and after due consultation with staff and other relevant stakeholders, the Trustees took the difficult decision to close the Ark Pre-School from the end of the Summer 2021 term. The decision was based on financial considerations as the pre-school had been making losses over the last few years due to increased staff costs not being matched by government funding.
CityCoast Centre could only provide community space, training facilities rooms etc. for meetings that were permitted during the pandemic, but since restrictions have been lifted, increasing numbers of events have been held.
CityCoast Trust is a member of Community Works, the citywide third sector infrastructure organisation. Good relationships continue to be developed facilitating greater partnership working in the community. CityCoast Centre is also available to other community and voluntary groups and is proving to be a useful resource for the wider community, as well as generating income for the organisation.
Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.
Page 4
CITYCOAST TRUST
TRUSTEES' REPORT
Financial review
During the year the charitable company made an unrestricted surplus of £32,654 (2021 - £82,510) and a restricted surplus of £8,893 (2021 - deficit £7,452) before transfers. The balances available to carry forward to the following year were £7,743 restricted and £1,006,672 unrestricted funds.
Policy on reserves
The charitable company carries out a variety of projects. The directors consider that it would be desirable to have a working reserve equivalent to 3 months expenditure. At the present time funds are fully utilised as they become available. The policy will be reviewed regularly.
Page 5
CITYCOAST TRUST
TRUSTEES' REPORT
Statement of Trustees' responsibilities
The Trustees (who are also the directors of Citycoast Trust for the purposes of company law) 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), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees 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 applicable accounting standards, comprising FRS 102 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 the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The Trustees are responsible for keeping proper accounting records that can 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.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small companies provision statement
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
The annual report was approved by the Trustees of the charity on 6 December 2022 and signed on its behalf by:
Simon Lewis
Simon Lewis (Dec 6, 2022 10:48 GMT)
.........................................
Simon Lewis
Company secretary and trustee
Page 6
CITYCOAST TRUST
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CITYCOAST TRUST
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 March 2022 which are set out on pages 8 to 23.
Responsibilities and basis of report
As the charity’s Trustees of Citycoast Trust (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 Citycoast Trust 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 Chartered Institute of Management Accountants, 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 Citycoast Trust 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.
......................................... G W Schulz ACMA Independent Examiners Ltd
6 December 2022
Page 7
CITYCOAST TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
| Note Unrestricted funds £ Income and Endowments from: Donations and legacies 3 325,973 Charitable activities 4 23,946 Other trading activities 5 90,007 Total income 439,926 Expenditure on: Charitable activities 6 407,272 Total expenditure 407,272 Net income 32,654 Transfers between funds 6,312 Net movement in funds 38,966 Reconciliation of funds Total funds brought forward 967,706 Total funds carried forward 14 1,006,672 |
Restricted funds £ 30,351 - - 30,351 21,458 21,458 8,893 (6,312) 2,581 5,162 7,743 |
Total 2022 £ 356,324 23,946 90,007 470,277 428,730 428,730 41,547 - 41,547 972,868 1,014,415 |
Total 2021 £ 353,194 75,215 48,641 |
|---|---|---|---|
| 477,050 | |||
| 401,992 | |||
| 401,992 | |||
| 75,058 - |
|||
| 75,058 897,810 |
|||
| 972,868 |
The notes on pages 11 to 23 form an integral part of these financial statements. Page 8
CITYCOAST TRUST
REGISTERED NUMBER: 05517061 BALANCE SHEET AS AT 31 MARCH 2022
| Note Fixed assets Tangible assets 9 Current assets Stocks Debtors 10 Cash at bank and in hand Creditors: Amounts falling due within one year 11 Net current assets Total assets less current liabilities Creditors: Amounts falling due after more than one year 12 Net assets Funds of the charity: Restricted income funds Restricted funds Unrestricted income funds Unrestricted funds Total funds 14 |
2022 £ 1,303,025 1,303,025 500 8,612 97,716 106,828 (78,729) 28,099 1,331,124 (316,709) 1,014,415 7,743 1,006,672 1,014,415 |
2021 £ 1,329,384 |
|---|---|---|
| 1,329,384 | ||
| 500 22,391 147,254 |
||
| 170,145 (104,111) |
||
| 66,034 | ||
| 1,395,418 (422,550) |
||
| 972,868 | ||
| 5,162 967,706 |
||
| 972,868 |
For the financial year ending 31 March 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The notes on pages 11 to 23 form an integral part of these financial statements. Page 9
CITYCOAST TRUST
REGISTERED NUMBER: 05517061 BALANCE SHEET AS AT 31 MARCH 2022
The financial statements on pages 8 to 23 were approved by the Trustees, and authorised for issue on 6 December 2022 and signed on their behalf by:
Simon Lewis
Simon Lewis (Dec 6, 2022 10:48 GMT)
......................................... Simon Lewis
Company secretary and trustee
The notes on pages 11 to 23 form an integral part of these financial statements. Page 10
CITYCOAST TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
1 Charity status
The charity is limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the Trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.
Basis of preparation
Citycoast Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The Trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Page 11
CITYCOAST TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Gift aid
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category.
All expenditure is inclusive of irrecoverable VAT.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Page 12
CITYCOAST TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Depreciation method and rate Freehold property 2% straight line Fixtures and fittings 25% on reducing balance
Stock
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks.
Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Liabilities
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Fund structure
Unrestricted income funds are general funds that are available for use at the Trustees discretion in furtherance of the objectives of the charity.
Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Page 13
CITYCOAST TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
Pensions and other post retirement obligations
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Page 14
CITYCOAST TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
3 Income from donations and legacies
| Unrestricted funds Designated £ General £ Donations and legacies; Donations 2,400 280,600 Gift aid reclaimed - 41,128 Grants, including capital grants; Grants - 1,845 2,400 323,573 |
Restricted funds £ 30,351 - - 30,351 |
Total 2022 £ 313,351 41,128 1,845 356,324 |
Total 2021 £ 260,336 45,585 47,273 |
|---|---|---|---|
| 353,194 |
4 Income from charitable activities
| Unrestricted funds General £ Charitable activities 23,946 |
Total 2022 £ 23,946 |
Total 2021 £ 75,215 |
|---|---|---|
5 Income from other trading activities
| Property rental income | Unrestricted funds General £ 90,007 90,007 |
Total funds £ 90,007 90,007 |
Total 2021 £ 48,641 |
|---|---|---|---|
| 48,641 |
Page 15
CITYCOAST TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
6 Expenditure on charitable activities
| Unrestricted funds Note Designated £ General £ Gifts and donations 1,538 1,050 Purchases - 1,338 Events - 11,835 Premises incl repairs and cleaning - 84,886 Staff accommodation - 16,800 Travel - 88 Church department costs - 23,100 Pre-school costs - 2,406 Bank and mortgage interest - 18,866 Bank and finance - 2,780 Covenant seed to INC Europe - 9,950 Training and development - 5,373 Legal and professional fees - 3,264 Equipment - 11,350 Postage, stationery, telephone & office supplies - 4,147 Other items - 5,460 Independent examination - 1,620 Depreciation - 32,671 Staff costs 8 - 168,750 1,538 405,734 |
Restricted funds £ 12,549 - - - - - 7,440 1,469 - - - - - - - - - - - 21,458 |
Total 2022 £ 15,137 1,338 11,835 84,886 16,800 88 30,540 3,875 18,866 2,780 9,950 5,373 3,264 11,350 4,147 5,460 1,620 32,671 168,750 428,730 |
Total 2021 £ 14,988 - 2,617 63,725 16,800 33 14,523 5,205 18,369 2,319 - 614 2,955 7,593 2,906 5,393 1,620 31,288 211,044 |
|---|---|---|---|
| 401,992 |
Page 16
CITYCOAST TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
7 Trustee and related party transactions
During the year the following Trustees and related parties received remuneration and benefits as employees for the furtherance of the charity's objects:
| Trustees Jamie Harland Simon Lewis Related parties Ruth Lewis Amy Lewis Ben Lewis |
Salary 19,700 7,498 27,198 |
Manse 16,800 - 16,800 Salary 5,580 7,832 8,263 21,675 |
Pension & Health insurance 514 110 624 Pension & Health insurance 110 178 110 398 |
2022 £ 37,014 7,608 44,622 2022 £ 5,690 8,010 8,373 22,073 |
2021 £ 36,334 7,553 |
|---|---|---|---|---|---|
| 43,887 | |||||
| 2021 £ 9,180 7,167 8,295 |
|||||
| 24,642 |
8 Staff costs
The aggregate payroll costs were as follows:
| Staff costs during the year were: Wages and salaries Social security costs Pension costs Other staff costs |
2022 £ 164,091 1,398 1,598 1,663 168,750 |
2021 £ 204,152 2,886 2,079 1,927 |
|---|---|---|
| 211,044 |
Page 17
CITYCOAST TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
| Evangelism and leadership Administration Pre-school |
2022 No 7 7 3 17 |
2021 No 7 8 13 |
|---|---|---|
| 28 |
No employee received emoluments of more than £60,000 during the year.
9 Tangible fixed assets
| 9 Tangible fixed assets | |||||
|---|---|---|---|---|---|
| Cost At 1 April 2021 Additions At 31 March 2022 Depreciation At 1 April 2021 Charge for the year At 31 March 2022 Net book value At 31 March 2022 At 31 March 2021 10 Debtors Prepayments and accrued income Tax recoverable Other debtors |
Land and buildings £ 1,544,890 - |
Fixtures and fittings £ 53,025 6,312 59,337 52,245 1,773 54,018 5,319 780 2022 £ 2,402 2,946 3,264 8,612 |
Total £ 1,597,915 6,312 1,604,227 268,531 32,671 301,202 1,303,025 1,329,384 2021 £ 14,239 4,540 3,612 |
||
| 1,544,890 | 59,337 | ||||
| 216,286 30,898 |
52,245 1,773 |
||||
| 247,184 | 54,018 | ||||
| 1,297,706 | 5,319 | ||||
| 1,328,604 | 780 | ||||
| 2022 £ 2,402 2,946 3,264 8,612 |
|||||
| 22,391 |
Page 18
CITYCOAST TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
11 Creditors: amounts falling due within one year
| 11 Creditors: amounts falling due within one year | ||
|---|---|---|
| Bank loans Trade creditors Other taxation and social security Other creditors Accruals |
2022 £ 58,342 9,917 2,052 484 7,934 78,729 |
2021 £ 58,032 5,071 2,017 30,782 8,209 |
| 104,111 |
12 Creditors: amounts falling due after one year
| Bank loans Included in the creditors are the following amounts due after After more than five years by instalments |
2022 £ 2021 £ 316,709 422,550 more than five years: 2022 £ 2021 £ 21,467 124,611 |
2021 £ 422,550 |
|---|---|---|
The mortgage, loan and bank overdraft is secured on the freehold building in North Street, Portslade.
13 Pension and other schemes
Defined contribution pension scheme
The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to - £1,598 (2021 £2,079).
Contributions totalling £236 (2021 - £376) were payable to the scheme at the end of the year and are included in creditors.
Page 19
CITYCOAST TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
14 Funds
| Unrestricted funds General General Funds Designated Fixed asset fund Church activities Welfare fund Total unrestricted funds Restricted funds Pre-school fundraising Overseas missions and trips Other outreach projects Minibus fund Covid 19 Church planting Welfare fund Tea Time Talk fund Studio Pre-School Closure CityCoast Care Ukraine Crisis Total funds |
Balance at 1 April 2021 £ 36,346 930,669 327 364 931,360 967,706 386 410 24 250 82 360 1,350 2,300 - - - - 5,162 972,868 |
Incoming resources £ 437,526 - - 2,400 2,400 439,926 - 480 - - - 360 900 - 6,312 1,083 10,605 10,611 30,351 470,277 |
Resources expended £ (405,734) - - (1,538) (1,538) (407,272) (386) - - - (78) - (1,860) (550) - (1,083) (6,890) (10,611) (21,458) (428,730) |
Transfers £ 6,312 - - - - 6,312 - - (24) - (4) - (390) - (6,312) - 418 - (6,312) - |
Balance at 31 March 2022 £ 74,450 930,669 327 1,226 |
|---|---|---|---|---|---|
| 932,222 | |||||
| 1,006,672 | |||||
| - 890 - 250 - 720 - 1,750 - - 4,133 - |
|||||
| 7,743 | |||||
| 1,014,415 |
Page 20
CITYCOAST TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
Designated funds:
The designated fixed asset fund represents an element of the tangible fixed assets of the company without which the charity could not continue to operate.
Restricted funds:
The building fund and rise and build fund represents amounts which have been given by members of the congregation to refurbish and develop the building (CityCoast Centre).
The speakers and visitors fund represents donations collected for, and subsequently given to, external people who preach at CityCoast Church.
The pre-school fund was created as a result of fundraising by the pre-school to develop its facilities and educational resources.
The overseas missions and trips fund was created to provide resources to be used for overseas mission trips, especially in India and Nepal.
Other outreach projects represents amounts donated for the specific purpose of outreach projects in the local community. The fund has been transferred to the CityCoast Care fund in the year as CityCoast care now oversees the expenditure in this area and utilise funds in line with the original restricted purpose.
The Covid 19 fund is for pandemic specific support. The fund has been transferred to the CityCoast Care fund in the year as CityCoast care now oversees the expenditure in this area and utilise funds in line with the original restricted purpose.
The Love Christmas fund was created to provide Christmas food hampers to those in need in the local community.
The Welfare fund represents amounts given to provide support to people struggling financially. The fund has been transferred to the CityCoast Care fund in the year as CityCoast care now oversees the expenditure in this area and utilise funds in line with the original restricted purpose.
The Tea Time Talk fund represents amounts given specifically to support the initiative working in collaboration with Time to Talk Befriending.
The Studio fund was for setting up and equipping a studio. The terms of these donations were met once the asset had been acquired, therefore allowing the charity to use the asset on an unrestricted basis for any charitable purpose.
The pre-school closure fund represented amounts fundraised from the sale of pre-school equipment on closure, to be specifically donated to a local children’s charity.
The CityCoast Care fund represents amounts given to develop and oversee projects in the local community.
The Ukraine Crisis fund was an offering to hep the humanitarian crisis in Ukraine as a result of the war.
Page 21
CITYCOAST TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
| Unrestricted funds General General Funds Designated Fixed asset fund Church activities Welfare fund Total unrestricted funds Restricted funds Rise and build Pre-school fundraising Overseas missions and trips Other outreach projects Minibus fund Covid 19 Church planting Love Christmas Welfare fund Tea Time Talk fund Total funds |
Balance at 1 April 2020 £ (42,526) 930,669 327 4,964 935,960 893,434 - 358 3,361 24 250 383 - - - - 4,376 897,810 |
Incoming resources £ 470,067 - - 400 400 470,467 500 28 510 - - 470 360 1,065 1,350 2,300 6,583 477,050 |
Resources expended £ (382,957) - - (5,000) (5,000) (387,957) (8,738) - (3,461) - - (771) - (1,065) - - (14,035) (401,992) |
Transfers £ (8,238) - - - - (8,238) 8,238 - - - - - - - - - 8,238 - |
Balance at 31 March 2021 £ 36,346 930,669 327 364 |
|---|---|---|---|---|---|
| 931,360 | |||||
| 967,706 | |||||
| - 386 410 24 250 82 360 - 1,350 2,300 |
|||||
| 5,162 | |||||
| 972,868 |
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CITYCOAST TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
15 Analysis of net assets between funds
| Tangible fixed assets Current assets Current liabilities Creditors over 1 year Total net assets Tangible fixed assets Current assets Current liabilities Creditors over 1 year Total net assets |
Unrestricted funds General £ Designated £ 372,356 930,669 97,532 1,553 (78,729) - (316,709) - 74,450 932,222 Unrestricted funds General £ Designated £ 398,715 930,669 164,292 691 (104,111) - (422,550) - 36,346 931,360 |
Restricted funds £ - 7,743 - - 7,743 Restricted funds £ - 5,162 - - 5,162 |
Total funds at 31 March 2022 £ 1,303,025 106,828 (78,729) (316,709) |
|---|---|---|---|
| 1,014,415 | |||
| Total funds at 31 March 2021 £ 1,329,384 170,145 (104,111) (422,550) |
|||
| 972,868 |
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