## ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
## 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 5|
|Independent Examiner's Report|6|
|Statement of Financial Activities|7|
|Balance Sheet|8 to 9|
|Notes to the Financial Statements|10 to 22|
## **CITYCOAST TRUST**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
**Trustees** Simon Lewis Colin Spicer Jamie Harland Jarrod Kelly (resigned 31 July 2023) Claire Howarth (appointed 27 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 and auditors' report of the charitable company for the year ended 31 March 2023.
## **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:
- The advancement of the Christian Faith in accordance with the doctrines set out therein.
- The relief of persons who are in conditions of need, hardship or distress, aged or sick.
- 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 6 – 8 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.
## 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 2022. Over 50 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.
Our annual Christmas events took place this year incorporating carol services etc.
New believers 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, both for the local church and to show support for Christians in Ukraine.
The work with children and young people has continued with groups for different ages: CityKids (2 – 11 years), Verve Youth (11 – 18 years) and Verve Young Adults (18 – 25 years). The CityKids teams have also run events for local children at Halloween, Christmas and Easter.
In person and online home groups, where people meet to develop relationships and their faith, continue to meet people’s basic pastoral needs. Counselling and prayer have also been available at the end of church services and other times.
CityCoast Church held a worship service in Worthing as it aims to establish a church in this nearby town.
The church is part of Brighton and Hove Faith in Action, which aims to promote working together between different faith groups.
Page 3
## **CITYCOAST TRUST**
## **TRUSTEES' REPORT**
The relief of persons who are in conditions of need, hardship, poverty or distress or aged or sick
CityCoast Care oversees projects in the local community. Specifically, Christmas hampers were provided to both men and women living in local hostels. Also, a playground refurbishment project improved the play facilities at a local school attended by children with special educational needs.
During the last financial year, the church has seen growth in its group for older people in the local community, TeaTimeTalk. Working with another local charity, Time to Talk Befriending, the group provides a free afternoon tea every month. Up to 70 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
CityCoast Centre continues to provide community space, training facilities rooms etc. for meetings/events for local groups, charities, businesses and statutory organisations.
Good relationships continue to be developed facilitating greater partnership working in the community. CityCoast Centre continues 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.
## **Financial review**
During the year the charitable company made an unrestricted surplus of £23,313 (2022 - £32,654) and a restricted deficit of £8,161 (2022 - surplus £8,893) before transfers. The balances available to carry forward to the following year were £7,988 restricted and £1,021,579 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 4
## **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:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
- 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.
## **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 18 November 2023 and signed on its behalf by:
## Simon Lewis
......................................... Simon Lewis Company secretary and trustee
Page 5
## **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 2023 which are set out on pages 7 to 22.
## **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:
1. accounting records were not kept in respect of Citycoast Trust as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. 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
4. 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
18 November 2023
Page 6
## **CITYCOAST TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023**
|**Note**
**Unrestricted**
**funds**
**£**
**Income and Endowments from:**
Donations and legacies
3
305,028
Charitable activities
4
14
Other trading activities
5
111,973
Total income
417,015
**Expenditure on:**
Charitable activities
6
393,702
Net
income/(expenditure)
23,313
Transfers between
funds
(8,406)
Net movement in funds
14,907
**Reconciliation of funds**
Total funds brought
forward
1,006,672
Total funds carried
forward
14
1,021,579|**Restricted**
**funds**
**£**
67,709
-
-
67,709
75,870
(8,161)
8,406
245
7,743
7,988|**Total**
**2023**
**£**
372,737
14
111,973
484,724
469,572
15,152
-
15,152
1,014,415
1,029,567|**Total**
**2022**
**£**
356,324
23,946
90,007|
|---|---|---|---|
||||470,277
428,730|
||||41,547
-|
||||41,547
972,868|
||||1,014,415|
The notes on pages 10 to 22 form an integral part of these financial statements. Page 7
## **CITYCOAST TRUST**
## **REGISTERED NUMBER: 05517061 BALANCE SHEET AS AT 31 MARCH 2023**
|**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|**2023**
**£**
1,273,521
1,273,521
500
5,565
86,170
92,235
(80,558)
11,677
1,285,198
(255,631)
1,029,567
7,988
1,021,579
1,029,567|**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|
For the financial year ending 31 March 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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
- 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 10 to 22 form an integral part of these financial statements. Page 8
## **CITYCOAST TRUST**
## **REGISTERED NUMBER: 05517061 BALANCE SHEET AS AT 31 MARCH 2023**
The financial statements on pages 7 to 22 were approved by the Trustees, and authorised for issue on 18 November 2023 and signed on their behalf by:
## Simon Lewis
......................................... Simon Lewis Company secretary and trustee
The notes on pages 10 to 22 form an integral part of these financial statements. Page 9
## **CITYCOAST TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **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 10
## **CITYCOAST TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## _**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.
Legacy gifts are recognised on a case by case basis following the grant of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charity.
## _**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.
## _**Interest receivable**_
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **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.
Page 11
## **CITYCOAST TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **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.
## **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.
Page 12
## **CITYCOAST TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **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.
## **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 13
## **CITYCOAST TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **3 Income from donations and legacies**
|Donations and legacies;
Donations
Legacies
Gift aid reclaimed
Grants, including capital
grants;
Grants|**Unrestricted**
**funds**
**General**
**£**
235,602
29,778
39,648
-
305,028|**Restricted**
**funds**
**£**
67,709
-
-
-
67,709|**Total**
**2023**
**£**
303,311
29,778
39,648
-
372,737|**Total**
**2022**
**£**
313,351
-
41,128
1,845|
|---|---|---|---|---|
|||||356,324|
## **4 Income from charitable activities**
|Pre-school income
Café
**5 Income from other trading activities**
Property rental income|**Unrestricted**
**funds**
**General**
**£**
-
14
14
**Unrestricted**
**funds**
**General**
**£**
111,973
111,973|**Total**
**2023**
**£**
-
14
14
**Total**
**funds**
**£**
111,973
111,973|**Total**
**2022**
**£**
23,946
-|
|---|---|---|---|
||||23,946|
||||**Total**
**2022**
**£**
90,007|
||||90,007|
Page 14
## **CITYCOAST TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **6 Expenditure on charitable activities**
|**Note**
Gifts and donations
Purchases
Events
Premises incl repairs
and cleaning
Staff accommodation
Travel
Church department
costs
Pre-school costs
Bank and mortgage
interest
Bank and finance
Covenant seed to
INC Europe
Training and
development
Legal and
professional fees
Equipment
Postage, stationery,
telephone & office
supplies
Other items
Independent
examination
Depreciation
Staff costs
8|**Unrestricted**
**funds**
**General**
**£**
2,632
4,488
10,530
90,674
26,800
53
24,938
-
16,195
2,706
8,977
3,589
1,986
10,095
4,294
6,085
1,620
32,228
145,812
393,702|**Restricted**
**funds**
**£**
70,745
-
-
-
-
-
5,125
-
-
-
-
-
-
-
-
-
-
-
-
75,870|**Total**
**2023**
**£**
73,377
4,488
10,530
90,674
26,800
53
30,063
-
16,195
2,706
8,977
3,589
1,986
10,095
4,294
6,085
1,620
32,228
145,812
469,572|**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|
Page 15
## **CITYCOAST TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **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:
|**Salary**
**Manse**
**Trustees**
Jamie Harland
19,700
16,800
Simon Lewis
5,634
-
25,334
16,800
**Salary**
**Manse**
**Related parties**
Ruth Lewis
5,580
-
Amy Lewis
8,151
-
Ben Lewis
16,966
10,000
30,697
10,000
**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|**Pension &**
**Health**
**insurance**
110
92
202
**Pension &**
**Health**
**insurance**
110
110
110
330|**2023**
**£**
36,610
5,726
42,336
**2023**
**£**
5,690
8,261
27,076
41,027
**2023**
**£**
142,357
399
1,466
1,590
145,812|**2022**
**£**
37,014
7,608|
|---|---|---|---|
||||44,622|
||||**2022**
**£**
5,690
8,010
8,373|
||||22,073|
||||**2022**
**£**
164,091
1,398
1,598
1,663|
||||168,750|
Page 16
## **CITYCOAST TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
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|**2023**
**No**
7
7
-
14|**2022**
**No**
7
7
3|
|---|---|---|
|||17|
No employee received emoluments of more than £60,000 during the year.
## **9 Tangible fixed assets**
|**9 Tangible fixed assets**||||||
|---|---|---|---|---|---|
|**Cost**
At 1 April 2022
Additions
At 31 March 2023
**Depreciation**
At 1 April 2022
Charge for the year
At 31 March 2023
**Net book value**
At 31 March 2023
At 31 March 2022
**10 Debtors**
Prepayments and accrued income
Tax recoverable
Other debtors|**Land and**
**buildings**
**£**
1,544,890
-||**Fixtures**
**and fittings**
**£**
59,337
2,724
62,061
54,018
1,330
55,348
6,713
5,319
**2023**
**£**
-
3,389
2,176
5,565||**Total**
**£**
1,604,227
2,724
1,606,951
301,202
32,228
333,430
1,273,521
1,303,025
**2022**
**£**
2,397
2,946
3,269|
||1,544,890||62,061|||
||247,184
30,898||54,018
1,330|||
||278,082||55,348|||
||1,266,808||6,713|||
||1,297,706||5,319|||
||||**2023**
**£**
-
3,389
2,176
5,565|||
||||||8,612|
Page 17
## **CITYCOAST TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **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|**2023**
**£**
61,078
7,914
1,074
544
9,948
80,558|**2022**
**£**
58,342
9,917
2,052
484
7,934|
|||78,729|
|**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|**2023**
**£**
**2022**
**£**
255,631
316,709
more than five years:
**2023**
**£**
**2022**
**£**
24,726
21,467|**2022**
**£**
316,709|
|---|---|---|
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 - £1,466 (2022 £1,598).
Contributions totalling £293 (2022 - £236) were payable to the scheme at the end of the year and are included in creditors.
Page 18
## **CITYCOAST TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **14 Funds**
|**Unrestricted funds**
**_General_**
General Funds
**_Designated_**
Fixed asset fund
Church activities
Welfare fund
**Total unrestricted**
**funds**
**Restricted funds**
Overseas missions and
trips
Minibus fund
Church planting
Tea Time Talk fund
CityCoast Care
Ukraine Crisis
Playground Project
Off the Fence
**Total funds**|**Balance**
**at 1 April**
**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|**Incoming**
**resources**
**£**
417,015
-
-
-
-
417,015
280
-
360
20
6,267
1,428
58,192
1,162
67,709
484,724|**Resources**
**expended**
**£**
(393,702)
-
-
-
-
(393,702)
-
-
(1,020)
(1,570)
(4,092)
(1,428)
(66,598)
(1,162)
(75,870)
(469,572)|**Transfers**
**£**
(8,406)
-
-
-
-
(8,406)
-
-
-
-
-
-
8,406
-
8,406
-
|**Balance**
**at 31**
**March**
**2023**
**£**
89,357
930,669
327
1,226|
|---|---|---|---|---|---|
||||||932,222|
||||||1,021,579|
||||||1,170
250
60
200
6,308
-
-
-|
||||||7,988|
||||||1,029,567|
Page 19
## **CITYCOAST TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## _**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 overseas missions and trips fund was created to provide resources to be used for overseas mission trips, especially in India and Nepal.
The Tea Time Talk fund represents amounts given specifically to support the initiative working in collaboration with Time to Talk Befriending.
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.
The Playground Project fund represents amounts given by members of the congregation to refurbish play facilities at a local school attended by children with special educational needs.
The Off the Fence fund represents amounts given by members of the congregation to specifically be donated to the local charity of the same name, whose vision is to end social and spiritual poverty in Brighton and Hove.
Page 20
## **CITYCOAST TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
|**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 21
## **CITYCOAST TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **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**
**£**
342,852
930,669
82,694
1,553
(80,558)
-
(255,631)
-
89,357
932,222
**Unrestricted funds**
**General**
**£**
**Designated**
**£**
372,356
930,669
97,532
1,553
(78,729)
-
(316,709)
-
74,450
932,222|**Restricted**
**funds**
**£**
-
7,988
-
-
7,988
**Restricted**
**funds**
**£**
-
7,743
-
-
7,743|**Total funds**
**at 31**
**March**
**2023**
**£**
1,273,521
92,235
(80,558)
(255,631)|
|---|---|---|---|
||||1,029,567|
||||**Total funds**
**at 31**
**March**
**2022**
**£**
1,303,025
106,828
(78,729)
(316,709)|
||||1,014,415|
Page 22