ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
Coastlands Church Ltd
(A company limited by guarantee) Charity registration number: 1111991 Company registration number: 05491647
Independent Examiners Ltd Unit 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex PO18 8NF
COASTLANDS CHURCH LTD
CONTENTS
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 to 17 |
COASTLANDS CHURCH LTD
REFERENCE AND ADMINISTRATIVE DETAILS
Trustees
Andrew Kear Graham Towse Vivienne Towse Trevor Baker
Charity Registration 1111991 Number Company Registration 05491647 Number
The charity is incorporated in England. Registered Office 22 The Strand Goring By Sea West Sussex BN12 6DN Independent Examiner G W Schulz ACMA Independent Examiners Ltd Unit 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex PO18 8NF
Page 1
COASTLANDS CHURCH LTD
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
Objects and aims
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.
-
The advancement of education on the basis of Christian principles.
These objectives are progressed through the various activities and departments in the life of the church, continuing to work increasingly within the community in which it is based.
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
Review of activities
The charity started activities in May 2006. The church meets in Worthing in West Sussex.
Congregants are involved in varying degrees of Christian works within the church and the community.
The advancement of the Christian faith in accordance with the doctrines set out therein Full programmes of mid-week and Sunday meetings include Christian worship, teaching and fellowship.
Teaching engagements outside Worthing are encouraged.
The relief of persons who are in conditions of need, hardship or distress, aged or sick The welfare fund continues to enable the church to give relief to single parents, widows and any others in circumstances of hardship,whether the need be food, clothing or funds. This facility is not confined to the church members but is open to the wider community.
The Directors are responsible for deciding the distribution of the fund. The church also donates funds to children's welfare projects overseas.
The advancement of education on the basis of Christian principles
The charity continues to develop the distribution of the resources which have been placed at its disposal.
The charity continues with its training programme.
Page 2
COASTLANDS CHURCH LTD
TRUSTEES' REPORT
Plans for the future
In order to work within the community more effectively the trustees have been actively seeking to rent or purchase a commercial property in the town as a hub and point of contact for people who require practical, emotional and spiritual support. Up until now we have been unable to find a venue, but we will continue our search for suitable premises throughout the coming year. A Reserve Fund and Building Fund has been set aside for this purpose.
As a longer-term objective, the trustees will be looking for a property to purchase as a church centre, in which to hold meetings.
Financial review
During the year the charitable company made an unrestricted surplus of £26,126 (2021: £35,778) and a restricted surplus of £799 (2021: deficit £370) which are deducted from/added to, as appropriate, the balances brought from the previous period.
Risk management
The directors are confident that risks are kept to a minimum through strict financial control with regular reviews. The directors consider that the main risk to the company would be a reduction in the size of the membership or its ability and desire to give. This risk is managed through regular reporting of giving trends and active development of the growing vision. As already reported, membership has increased and the directors are confident that it will continue increasing at this time.
Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the company 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. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
Structure, governance and management
Nature of governing document
The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 26/06/2005.
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 Articles of Association.
Directors are drawn from the membership of the church. Due regard is taken of other charity experience and any specialist skills which may enhance the contribution of a candidate to the charity if selected. DBS check is mandatory.
Page 3
COASTLANDS CHURCH LTD
TRUSTEES' REPORT
Induction and training of trustees
New directors are supplied with information published by the Charity Commission on the responsibilities and expectations of those appointed to charity work. Latest accounts and statutory information are provided and whatever interview time the new appointee requires with other Directors or senior managers is made available.
Organisational structure
The charitable company is based in Worthing and works in that catchment area.
The directors facilitate the work through regional house groups as well as through community based projects which include working with the homeless, the elderly, youth 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.
Page 4
COASTLANDS CHURCH LTD
TRUSTEES' REPORT
Statement of Responsibilities
The trustees (who are also the directors of Coastlands Church Ltd 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;
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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;
-
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 19 December 2022 and signed on its behalf by:
......................................... Andrew Kear Trustee
Page 5
COASTLANDS CHURCH LTD
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF COASTLANDS CHURCH LTD
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 7 to 17.
Responsibilities and basis of report
As the charity’s trustees of Coastlands Church Ltd (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 Coastlands Church Ltd 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:
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accounting records were not kept in respect of Coastlands Church Ltd 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 Unit 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex PO18 8NF
19 December 2022
Page 6
COASTLANDS CHURCH LTD
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
| Note Unrestricted funds £ Income and Endowments from: Donations and legacies 3 132,108 Charitable activities 4 2,396 Investment income 5 554 Total income 135,058 Expenditure on: Charitable activities 6 108,932 Total expenditure 108,932 Net income 26,126 Net movement in funds 26,126 Reconciliation of funds Total funds brought forward 491,698 Total funds carried forward 12 517,824 |
Restricted funds £ 4,554 - - 4,554 3,755 3,755 799 799 693 1,492 |
Total 2022 £ 136,662 2,396 554 139,612 112,687 112,687 26,925 26,925 492,391 519,316 |
Total 2021 £ 122,826 2,536 270 |
|---|---|---|---|
| 125,632 | |||
| 90,224 | |||
| 90,224 | |||
| 35,408 | |||
| 35,408 456,983 |
|||
| 492,391 |
The notes on pages 9 to 17 form an integral part of these financial statements. Page 7
COASTLANDS CHURCH LTD
(REGISTRATION NUMBER: 05491647) BALANCE SHEET AS AT 31 MARCH 2022
| Note Fixed assets Tangible assets 9 Current assets Debtors 10 Cash at bank and in hand Creditors: Amounts falling due within one year 11 Net current assets Net assets Funds of the charity: Restricted income funds Restricted funds Unrestricted income funds Unrestricted funds Total funds 12 |
2022 £ 1,403 1,403 10,261 509,262 519,523 (1,610) 517,913 519,316 1,492 517,824 519,316 |
2021 £ 1,871 |
|---|---|---|
| 1,871 | ||
| 1,604 490,581 |
||
| 492,185 (1,665) |
||
| 490,520 | ||
| 492,391 | ||
| 693 491,698 |
||
| 492,391 |
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:
-
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 financial statements on pages 7 to 17 were approved by the trustees, and authorised for issue on 19 December 2022 and signed on their behalf by:
......................................... Andrew Kear Trustee
The notes on pages 9 to 17 form an integral part of these financial statements. Page 8
COASTLANDS CHURCH LTD
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
Coastlands Church Ltd 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 9
COASTLANDS CHURCH LTD
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.
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.
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 costing £500.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Page 10
COASTLANDS CHURCH LTD
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
Equipment
Depreciation method and rate 25 reducing balance method
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.
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 11
COASTLANDS CHURCH LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
3 Income from donations and legacies
| Unrestricted funds General £ Donations and legacies; Donations 112,815 Gift aid reclaimed 19,293 132,108 4 Income from charitable activities Charitable activities 5 Investment income Interest receivable and similar income; Interest receivable on bank deposits |
Restricted funds £ 4,554 - 4,554 Unrestricted funds General £ 2,396 Unrestricted funds General £ 554 |
Total 2022 £ 117,369 19,293 136,662 Total 2022 £ 2,396 Total 2022 £ 554 |
Total 2021 £ 106,517 16,309 |
|---|---|---|---|
| 122,826 | |||
| Total 2021 £ 2,536 |
|||
| Total 2021 £ 270 |
Page 12
COASTLANDS CHURCH LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
6 Expenditure on charitable activities
| Note Gifts and donations Events Premises costs Staff accommodation Travel Evangelism and outreach costs Covenant seed Administration costs Other items New Bank charges Insurance Purchases - Books Equipment Independent examination Depreciation, amortisation and other similar costs Staff costs 8 |
Unrestricted funds General £ 30,142 97 5,788 12,497 2,953 5,283 8,758 3,256 2,109 3,100 1,181 751 543 11,701 510 468 19,795 108,932 |
Restricted funds £ 3,755 - - - - - - - - - - - - - - - - 3,755 |
Total 2022 £ 33,897 97 5,788 12,497 2,953 5,283 8,758 3,256 2,109 3,100 1,181 751 543 11,701 510 468 19,795 112,687 |
Total 2021 £ 16,654 119 3,746 12,300 506 3,082 8,485 3,892 2,667 4,650 1,352 804 352 10,118 450 624 20,423 |
|---|---|---|---|---|
| 90,224 |
7 Trustees remuneration and expenses
Mr A Kear, a Trustee, and his wife are employees of the charity. Their gross income for 2021 was £20,190 (2020: £20,194). The church also paid rent of £12,497 (2021: £12,300) for their living accommodation.
During the year, no Trustees received any benefits in kind (2021: £NIL).
During the year, no Trustees received any reimbursement of expenses (2021: £NIL).
Page 13
COASTLANDS CHURCH LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
8 Staff costs
The aggregate payroll costs were as follows:
| Staff costs during the year were: Wages and salaries Social security costs |
2022 £ 19,795 - 19,795 |
2021 £ 20,194 229 |
|---|---|---|
| 20,423 |
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:
| Staff 9 Tangible fixed assets Cost At 1 April 2021 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 Accrued income |
2022 No 2 Equipment £ 6,761 |
2021 No 2 |
||
|---|---|---|---|---|
| Total £ 6,761 6,761 4,890 468 5,358 1,403 1,871 2021 £ 1,604 |
||||
| 6,761 | ||||
| 4,890 468 |
||||
| 5,358 | ||||
| 1,403 | ||||
| 1,871 | ||||
| 2022 £ 10,261 |
Page 14
COASTLANDS CHURCH LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
11 Creditors: amounts falling due within one year
| Other taxation and social security Accruals 12 Funds Balance at 1 April 2021 £ Unrestricted funds General General funds 391,698 Designated Reserve fund 50,000 Building fund 40,000 Mission fund 10,000 100,000 Total unrestricted funds 491,698 Restricted funds Speakers' fund - Jerusalem fund 693 693 Total funds 492,391 |
Incoming resources £ 135,058 - - - - 135,058 3,449 1,105 4,554 139,612 |
2022 £ 1,100 510 1,610 Resources expended £ (108,932) - - - - (108,932) (3,449) (306) (3,755) (112,687) |
2021 £ 1,215 450 |
|---|---|---|---|
| 1,665 | |||
| Balance at 31 March 2022 £ 417,824 50,000 40,000 10,000 |
|||
| 100,000 | |||
| 517,824 | |||
| - 1,492 |
|||
| 1,492 | |||
| 519,316 |
Page 15
COASTLANDS CHURCH LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
| Unrestricted funds General General funds Designated Reserve fund Building fund Mission fund Total unrestricted funds Restricted funds Speakers' fund Jerusalem fund Specific gifts fund Total funds |
Balance at 1 April 2020 £ 356,399 50,000 40,000 10,000 100,000 456,399 - 584 - 584 456,983 |
Incoming resources £ 122,584 - - - - 122,584 1,226 1,322 500 3,048 125,632 |
Resources expended £ (86,806) - - - - (86,806) (1,605) (1,213) (600) (3,418) (90,224) |
Transfers £ (479) - - - - (479) 379 - 100 479 - |
Balance at 31 March 2021 £ 391,698 50,000 40,000 10,000 |
|---|---|---|---|---|---|
| 100,000 | |||||
| 491,698 | |||||
| - 693 - |
|||||
| 693 | |||||
| 492,391 |
Page 16
COASTLANDS CHURCH LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
13 Analysis of net assets between funds
| Tangible fixed assets Current assets Current liabilities Total net assets Tangible fixed assets Current assets Current liabilities Total net assets |
Unrestricted funds General £ Designated £ 1,403 - 418,031 100,000 (1,610) - 417,824 100,000 Unrestricted funds General £ Designated £ 1,871 - 391,492 100,000 (1,665) - 391,698 100,000 |
Restricted funds £ - 1,492 - 1,492 Restricted funds £ - 693 - 693 |
Total funds at 31 March 2022 £ 1,403 519,523 (1,610) |
|---|---|---|---|
| 519,316 | |||
| Total funds at 31 March 2021 £ 1,871 492,185 (1,665) |
|||
| 492,391 |
Page 17