## Beulah Church
Report and Accounts Year ended 31 December 2023
1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk
## **BEULAH CHURCH**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
## **COMPANY INFORMATION**
## **Directors/Trustees**
Mr L George - Chairman Mr L Richards Mr B Stent Mr T Barker (resigned March 2023) Ms L McLellan (resigned June 2023) Mrs D Nwaboku
## **Key staff**
John Clevely - Elder and Teaching Pastor Llewellyn Richards - Elder
**Governing Document** Memorandum and Articles 9 December 2005 **Company Registration Number** 05650590 **Charity Registration Number** 1113474
**Registered Office** Beulah Family Church Beulah Crescent Thornton Heath Surrey
## **Independent Examiner**
Stephen Mathews FCA Stewardship 1 Lamb's Passage London, EC1Y 8AB
## **Bankers**
CAF Bank
## **CONTENTS**
||Page|
|---|---|
|Directors' Report|1-6|
|Independent Examiner's Report|7|
|Statement of Financial Activities|8|
|Balance Sheet|9|
|Notes to the Accounts|10-16|
|Detailed Statement of Financial Activities with Comparatives|17|
## BEULAH CHURCH
## REPORT OF THE TRUSTEES
## FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustees have pleasure in submitting the Report and Accounts for the year ended 31 December 2023.
## **Objects of the charity**
The Trustees are pleased to present their report together with the financial statements of the charity for the year ended 31st December 2023. The financial statements have been prepared on the accounting policies set out in note 1 to the financial statements and comply with the charity’s trust deed, applicable law and the requirements of the Statement of Recommended Practice, “Accounting and Reporting by Charities” issued in 2015.
Beulah Church is commonly known as Beulah Family Church, a name agreed to by its members. The name reflects that we see ourselves as a family of believers, brought together by the love of God in Christ Jesus. Everyone is welcomed to enjoy an environment of worship, through contemporary songs of praise, inclusive prayers and encouraging teachings that have transformed lives.
The Trustees work in partnership with the Elders of the church. The Elders provide both spiritual oversight and the day-to-day direction of the church.
The charity’s governing purpose is to spread the Gospel and further the Kingdom of the Lord Jesus Christ. It is the policy of the trustees to combine prudence in financial planning and economy in expenditure with an attitude of faith and expectation proper to this purpose.
Beulah Family Church is a Holy Spirit-filled, Bible-believing church, with a regular congregation of around 160 people, often many more.
At Beulah, we see ourselves as a family of believers brought together by the love of God in Christ Jesus. Our membership features a rich multi-cultural background, representing the diverse local community.
The church has an outward-focused ministry, active in the local community and has relationships with other churches around the world.
Page 1
## **Review of Activities**
Beulah’s activities continue to be driven by our;
- Passion for God
- Love for People and
- Heart for Mission
## **Passion for God**
We have continued to deliver the teaching of biblical scripture through our Sunday services and small group meetings.
## Church Services
Our Sunday services are held in person on-site and also broadcast live online (via social media streams). A recording of the sermon section is available on our website and YouTube Good Friday Service is held at the Thornton Heath site and online. Kingdom Kids - Children's activity-based Sunday meeting
24 December – Christmas Eve celebration service. 25 December – Christmas Day family service. Good Friday Service – Friday 7th April
## Courses
Youth Bible Study – Every Friday from 15th September.
Annual Youth Conference – Our annual youth conference was run from Friday 3rd to Sunday 5th November. Included daily sermons with question and answer sessions.
Stir it Up – For anyone who desires to stir up the prophetic gift, or just learn to hear God's voice more.
Joining the Church (Explore) – A presentation to learn more about Beulah Family Church and how to become a member.
## **Love for People**
Numerous Dedications, Funerals and Weddings
## **Pastoral Care** –
- Prayer team available to pray with people after service on Sundays. Also prayer meetings on Tuesday mornings
- Pastoral Counselling - We are also able to offer pastoral counselling.
Page 2
**Stork Aid** - Aims to serve people with newborn children, or who have unexpectedly become ill, in a very practical way. Various members of the church will rally together, cook and deliver a week of home-cooked meals to the family so that they have one less thing to think about.
**Bouncers** -A weekly babies and toddlers group with a variety of toys available to keep the children entertained in a large room. It also offers an opportunity for parents/guardians to have a chat and a coffee
**ONE** - For all women, whether you come to Beulah or not. The name of the group reflects the intention of being increasingly united in love for God and one another. Friendships are made and strengthened through activities such as pampering, afternoon teas and baking competitions, as well as prayer and teaching sessions.
**MEN** –Fellowship for men of all ages, the events inevitably tend to include enjoying food together. But as well as being fed physically, we also aim to be fed spiritually – challenging and encouraging each other to serve the Lord with passion in our generation.
**Christmas Food Offering** – Where church attendees bring something special that is distributed to people in our congregation who are in need.
**Centre of Healing** – For anyone struggling with life's challenges and would like prayer.
## **Area Group Get Togethers Wednesday 8:00 pm | Zoom**
**Fit For Life Exercise Class** – Run every Wednesday.
**Christmas Love in a Box** – Individuals collect and pack items into shoeboxes that are sent to underprivileged children in Eastern Europe
**Children and Youth Christmas Party** – Saturday 2nd December.
**11 – 14plus Youth Social** – Sunday 10th December.
**Warm Space** – Run between 17th January to the end of March (between 1 pm to 3 pm). The church offered a warm space to anyone who might benefit from a warm space. Free refreshments and someone to talk to were made available.
**Youth Fun Day** – Friday 17th February. There were lots of games and activities. Breakfast and Lunch were included.
**Art and Craft Exhibition** – Held on Saturday 25th March
**Open Gardens** - June - An opportunity to invite friends, neighbours and church members to visit your garden, serve tea and cake and raise money for Charity.
Page 3
## **Heart for Mission**
Bringing the love of Christ to the community is not just about practical help but also about the personal hope and life change that comes from a personal relationship with God. This mission is at the heart of the work of Beulah Church and its members. This is aimed to be shown in the daily lives of the individual members and their interaction with each other and those around them in the community. The church has also arranged special events to this end.
**Church Without Walls** – A series of outreach activities that took place in various locations within walking distance of our church
**Youth Ministry** - Our youth ministry is a significant feature with Beulah running clubs on Sundays and during the week.
**Limitless Youth Camp** – 3rd April – 7th April 2023. Whitemoor Lakes, Lichfield
**Church Family Meeting** – Annual meeting where the church discusses its vision, finance, membership, and forthcoming actions with members.
## **Staff**
The charity employed:
One Pastor/Lead Elder
- One Youth Worker One Elder and Centre Manager.
- An Administrator
## **Volunteers**
Beulah Church is blessed by the valuable contribution of voluntary work. Large numbers of volunteers within the church help in every aspect of the church’s work. Without them, most of the church’s activities would not take place.
## **Working Partnerships**
## **Regions Beyond**
Beulah Family Church is part of a relational network of churches that form “Regions Beyond”. Regions Beyond is under the apostolic leadership of an international team headed by Steve Oliver.
Page 4
## **Outlook for 2024**
We will intensify fundraising efforts for the renovation of the church roof. Additionally, there will be staff changes as a result of two people retiring later in the year.
## **Public Benefit**
In planning the activities the Trustees have had regard to the guidance issued by the Charity Commission in December 2008 on Public Benefit.
## **Financial review**
The Trustees would like to thank the church membership for their continued generous support and their commitment to fund resources and see the community touched by the work of the church. The outcome for the year was effectively breakeven enabling the church to fund its mission centred budget.
The church roof is in need of repair and professional advice is being sought as to cost effective solutions but this is likely to be a major focus of finance in the 2024 and 2025 years.
## **Reserves Policy**
The Board of Trustees have established a policy whereby free reserves held by the charity should be maintained at levels to allow the Church to continue its operations if income were to reduce considerably. We expect to hold at least three months of operating costs, which equates to approximately £45,000. At the year-end, the free reserves held at the bank stood at approximately £54,000.
## **Risk Statement**
The Trustees have reviewed the risks to which a small charity operating with few employees are exposed. Appropriate procedures are in place to identify, monitor and review these risks on a regular basis.
## **Trustees' Responsibilities**
Charity law requires us as Trustees to prepare financial statements for each accounting year which give a true and fair view of the state of the charity and its income and expenditure for the year.
1. Select suitable accounting policies and apply them consistently
2. Make judgements and estimates that are reasonable and prudent
Page 5
3. State whether the applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts.
4. Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the company and enable us to ensure that the financial statements comply with the Companies Act 2006.
The Trustees also have a responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities.
## Approval
This report was approved by the Trustees on and signed on their behalf by:
----------------------------------------------------------------
Len George - Chair of Trustees
Page 6
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF**
## **BEULAH CHURCH**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023 on pages 8 to 17 following, which have been prepared on the basis of the accounting policies set out on pages 10-11.
## **Responsibilities and basis of report**
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company 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.
Stephen Mathews FCA Institute of Chartered Accountants of England and Wales
Stewardship 1 Lamb's Passage London, EC1Y 8AB
Date:
Page 7
## **BEULAH CHURCH**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
## **SUMMARY INCOME AND EXPENDITURE ACCOUNT**
|Note
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
3
Investments
_Charitable activities_
Total income and endowments
**EXPENDITURE ON**
Charitable activities
5
Total expenditure
**Net income/(expenditure)**
Transfers between funds
11
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
2023
2022
£
£
£
£
163,497
500
163,997
153,598
754
-
754
208
31,597
-
31,597
28,879
195,848
500
196,348
182,685
185,871
2,886
188,757
221,850
185,871
2,886
188,757
221,850
9,977
(2,386)
7,591
(39,165)
(2,156)
2,156
-
-
7,821
(230)
7,591
(39,165)
70,942
1,846
72,788
111,953
78,763
1,616
80,379
72,788|
|---|---|
Movements on reserves and all recognised gains and losses are shown above.
The notes on page 10 - 16 form part of these accounts.
Page 8
## **BEULAH CHURCH**
## **BALANCE SHEET**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
|Note
**FIXED ASSETS**
Tangible assets
7
**CURRENT ASSETS**
Debtors
8
Cash at bank
9
**CURRENT LIABILITIES**
Liabilities falling due within one year
10
Net Current Assets
**NET ASSETS**
**FUND BALANCES**
Unrestricted funds
11
General Funds
Restricted Funds
11|Unrestricted
Restricted
Total funds
Total funds
Funds
Funds
2023
2022
£
£
£
£
8,000
-
8,000
12,000
24,217
-
24,217
17,886
53,697
1,616
55,314
47,349
77,915
1,616
79,531
65,235
7,152
-
7,152
4,447
70,763
1,616
72,379
60,788
78,763
1,616
80,379
72,788
78,763
78,763
70,942
1,616
1,616
1,846
78,763
1,616
80,379
72,788|
|---|---|
_For the year ended 31 December 2023, the company was entitled to the exemption from audit under Section 477 of the Companies Act 2006 relating to small companies._
_Responsibilities of directors/trustees:_
- _a. The members have not required the charitable company to obtain an audit of its accounts for the year in question in accordance with Section 476 of the Companies Act - however, in accordance with Section 145 of the Charities Act 2011 the accounts have been examined by an independent examiner whose report forms part of this document._
- _b. The directors/trustees acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts._
_These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime._
Approved by the Directors and signed on their behalf by:
----------------------------------------------------------------------------Mr L George - Chairman Date Company number: 05650590 Charity number: 1113474
The notes on page 10 - 16 form part of these accounts.
Page 9
## **BEULAH CHURCH**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
## **1 Statutory Information**
The charity is a charitable company limited by guarantee and is incorporated in the United Kingdom. The company's registered number and registered office address can be found on the Company Information page.
## **2 Accounting Policies**
These financial statements are prepared on a going concern basis, under the historical cost convention.
These financial statements have been prepared in accordance with the "Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102"), with the Companies Act 2006 and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.
The principles adopted in the preparation of the financial statements are set out below.
## a) Going Concern
The trustees (who are the charitable company's directors for the purposes of company law) have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.
## b) Income
Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.
Income from donations and legacies includes:
- i) Recoverable gift aid. This is recognised when the related donation is received. Gift aid that has not been recovered by the balance sheet date is included as a debtor.
- ii) The charity relies on volunteers to carry out many of its activities. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.
Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity's charitable objects. It includes income from church retreats and other events and courses.
## c) Expenditure
Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.
The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.
Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.
Page 10
## **BEULAH CHURCH**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
## d) Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects. Endowment funds are donations that are retained as capital in accordance with the donor's wishes. The nature of the restriction determines whether the endowments represent permanent endowments or expendable endowments.
## e) Tangible fixed assets
Items purchased or donated for the charity's own use are capitalised when the cost of a purchased item, or the fair value of a donated item, is more than £5,000 and is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective the following rates of depreciation are charged:
Depreciation periods are as follows:
Equipment Between 3 and 7 years
The carrying values of tangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate that the carrying value may not be recoverable.
## f) Pension costs:
The charity operates defined contribution pension schemes for its employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds.
## g) Taxation
The company is a registered charity; it has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.
## h) Financial instruments
The charity's financial assets and financial liabilities all qualify as basic financial instruments, as defined by FRS102. Except for loans, creditors and debtors are measured at their expected settlement value (normally the amount of cash that the charity expects to pay or receive). The charity recognises liabilities for the principal of those loans that remains outstanding at the year end (i.e. the liabilities exclude any interest chargeable on the loans in future years).
## i) Cashflow statement
The company has taken advantage of the exemption provided by the FRS 102 SORP and has not prepared a Cash Flow Statement for the year.
Page 11
## **BEULAH CHURCH**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
|**3**|**Voluntary income**||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||Funds|Funds|2023|2022|
||||£|£|£|£|
||General donations (including Gift Aid)||163,497|500|163,997|153,598|
||||163,497|500|163,997|153,598|
|**4**|**Charitable activity income**||||2023|2022|
||Hall hire||||£
31,295|£
27,231|
||Church activities||||-|-|
||Other receipts||||302|1,648|
||||||31,597|28,879|
|**5**|**Charitable activity**||||||
|**a**|**Direct Charitable Costs**||||Total
2023
£|Total
2022
£|
||Wages, salaries, pension & NI contributions||||97,063|113,095|
||Accommodation costs||||-|4,200|
||Buildings||||54,771|45,518|
||Depreciation on assets||||4,000|4,000|
||Church activities||||5,177|9,466|
||Grants payable|Note 3c|||4,950|21,250|
||||||165,960|197,528|
|**b**|**Support & Administration**||||£|£|
||Governance costs||||2,610|3,300|
||Office and sundry costs||||20,187|21,022|
||||||22,797|24,322|
||**Combined charitable activity cost**||||188,757|221,850|
||Fees payable to Stewardship, there were no|charges other than for the annual||accounts and independent examination of|||
||£2,600 (2022: £3,000).||||||
|**c**|**Grants**||Institutions|Individuals|2023||
||Mission support||£
4,800|£
942|£
5,742||
||Church planting||-|-|-||
||||4,800|942|5,742||
||Mission support||£
5,250|£
-|2022
£
5,250||
||Church planting||16,000|-|16,000||
||||21,250|-|21,250||
||Grants made to institutions were:||||2023|2022|
||||||£|£|
||Regions Beyond UK (General mission|support)|||4,800|4,000|
||Innovation Churches (re Forestdale church plant)||||-|16000|
||Croydon Tamil Christian Fellowship||||-|1,250|
Page 12
## **BEULAH CHURCH**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
|**6**
**Staff, Trustees and other details**
Gross wages, salaries & benefits in kind
Employer's National Insurance costs
Pension costs
Total staff costs|2023
2023
£
£
90,947
104,651
3,194
6,257
2,921
2,187
97,063
113,095|
|---|---|
The average monthly number of employees during the year was 4 (2022:5). Most of the charity's activities are carried out by volunteers.
No staff received salaries at a rate of more than £60,000 per annum (2022 none).
The charity's key management comprise the trustees and the key staff named on the Company Information page. Total employment benefits payable to key management for the year were as follows:
|_Trustees:_|Wages and
Employment
Employer
salaries
Benefits
Pension|2023
£|
|---|---|---|
|L Richards|19,215
-
360|19,575|
|_Other members of key management_|44,994
-
900|45,894|
|||65,469|
|_Trustees:_|Wages and
Employment
Employer
salaries
Benefits
Pension|2022
£|
|L Richards|25,417
-
360|25,777|
|_Other members of key management_|54,005
-
6,508|60,513|
|||86,290|
L Richards served as a church leader and received the above payments for serving in that capacity, not for serving as a trustee; these payments are permitted by the charity's governing document.
|**7**
**Tangible Fixed Assets**
Cost
At 1 January 2023
Additions
At 31 December 2023
Accumulated Depreciation
At 1 January 2023
Charge for the year
At 31 December 2023
Net book value
At 31 December 2023
At 1 January 2023|Total
Music, AV and
other church
equipment
Office
Equipment
2023
£
£
£
55,733
3,973
59,706
-
-
-
55,733
3,973
59,706
43,733
3,973
47,706
4,000
-
4,000
47,733
3,973
51,706
8,000
-
8,000
12,000
-
12,000|
|---|---|
The church uses the building at Beulah Crescent, Thornton Heath, CR7 8JL. The church does so on the basis of a trust deed between The London Baptist Property Board Limited and Beulah Hill Christian Fellowship, the forerunner of the current church charity. The cost of repair and improvements are met by the funds of the church.
Page 13
## **BEULAH CHURCH**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
|||2023|2022|
|---|---|---|---|
|**8**|**Debtors and Prepayments**|£|£|
||Tax recoverable|15,834|8,121|
||Other Debtors|4,733|6,115|
||Prepayments|3,650|3,650|
|||24,217|17,886|
|**9**|**Cash at Bank and in Hand**
Bank operating accounts
Bank deposits
The 'Other debtors' in represents Employment Allowance for some tax
received by the year end.|2023
£
4,672
50,642
years which have been|2022
£
1,858
45,491
claimed but on|
|||55,314|47,349|
|**10**|**Creditors: liabilities falling due within one year**
Trade Creditors
Tax and social security
Accruals|3,052
1,200
2,900|947
-
3,500|
|||7,152|4,447|
The 'Other debtors' in represents Employment Allowance for some tax years which have been claimed but only partially received by the year end.
## **11 Funds**
The Designated Funds are an unrestricted fund designated by the Trustees to allow for future expenditure on:
|**2023**|Opening
Incoming
Outgoing
Transfers
Closing
balance
resources
resources
in the year
balance
£
£
£
£
£|
|---|---|
|The restricted funds represent amounts received for specific purposes and the movements in the year are as follows:||
|Youth Israel fund|Opening
Incoming
Outgoing
Transfers
Closing
balance
resources
resources
in the year
balance
£
£
£
£
£
1,093
-
-
-
1,093|
|Burundi|312
-
-
-
312|
|Tamil Fellowship|230
-
(942)
712
-|
|Roof fund|-
500
(1,944)
1,444
-|
|Floating Shelter fund|211
-
-
-
211|
||1,846
500
(2,886)
2,156
1,616|
The main restricted funds were held for the following purposes: The Roof fund is for major repair work expected on the church roof and similar expenditure expected in 2024 and 2025. The Youth Israel Fund is for youth work in the church.
Page 14
## **BEULAH CHURCH**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
The assets and liabilities represented by the various funds as at December 2023 are as follows:
|Restricted funds
Unrestricted funds|Fixed
Bank & cash
Other net
Total
assets
balances
assets
£
£
£
£
-
1,616
-
1,616
8,000
53,697
17,066
78,763
8,000
55,314
17,066
80,379|
|---|---|
## **2022**
The Designated Funds are an unrestricted fund designated by the Trustees to allow for future expenditure on:
|Bouncers Fund
Bouncers Fund|Opening
Incoming
Outgoing
Transfers
Closing
balance
resources
resources
in the year
balance
£
£
£
£
£
2,332
-
-
(2,332)
-
Monies raised by the 'Bouncers' toddler group set aside for running
costs and other donations|
|---|---|
The restricted funds represent amounts received for specific purposes and the movements in the year are as follows:
|Regions Beyond mission support
Youth Israel fund
Burundi
Tamil Fellowship
Floating Shelter fund|Opening
Incoming
Outgoing
Transfers
Closing
balance
resources
resources
in the year
balance
£
£
£
£
£
2,077
-
-
(2,077)
-
-
1,093
-
-
1,093
312
-
-
-
312
230
1,250
(1,250)
230
211
-
-
-
211
2,830
2,343
(1,250)
(2,077)
1,846|
|---|---|
The assets and liabilities represented by the various funds were as follows:
|Restricted funds
Unrestricted funds|Fixed
Bank & cash
Other net
Total
assets
balances
assets
£
£
£
£
-
1,846
-
1,846
12,000
45,503
13,439
70,942
12,000
47,349
13,439
72,788|
|---|---|
Page 15
## **BEULAH CHURCH**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
## **12 Lease Commitments**
The charity has a lease on equipment which runs until July 2026 at a cost of £2,150 per annum.
## **13 Related Party transactions**
During the year the charity:
- a) received donations totalling £20,250 (2022: £38,890) from related parties (which includes trustees, anyone closely connected to them and key management).
- b) Paid no expenses to trustees whilst carrying out duties associated with being trustees. Reimbursements for expenses incurred when acting as agent for the charity or incurred when undertaking employment duties not connected with serving as a trustee are not included in this disclosure.
Mrs R George, the spouse of a Trustee L George, was paid £21,500 (2022 £20,020) in her capacity as a church administrator.
## **14 Members**
Each member of the company commits to contribute if the charity is wound up an amount of £10.
Page 16
## **BEULAH CHURCH**
## **Detailed Statement of Financial Activities with Comparatives**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
|Note
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
Investments
Charitable activities
4
Total income and endowments
**EXPENDITURE ON**
Charitable activities
3
Total expenditure
Net gains/(losses) on investments
**Net income/(expenditure)**
Transfers between funds
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|Total
Total
Funds
Funds
2023
2022
2023
2022
2023
2022
2023
2022
£
£
£
£
£
£
£
£
163,497
151,255
-
-
500
2,343
163,997
153,598
754
208
-
-
-
-
754
208
31,597
28,879
-
-
-
-
31,597
28,879
195,848
180,342
-
-
500
2,343
196,348
182,685
185,871
220,600
-
-
2,886
1,250
188,757
221,850
185,871
220,600
-
-
2,886
1,250
188,757
221,850
-
-
-
-
-
-
-
-
9,977
(40,258)
-
-
(2,386)
1,093
7,591
(39,165)
(2,156)
2,077
-
-
2,156
(2,077)
-
-
7,821
(38,181)
-
-
(230)
(984)
7,591
(39,165)
68,619
106,801
2,322
2,322
1,846
2,830
72,788
111,953
76,441
68,619
2,322
2,322
1,616
1,846
80,379
72,788
Unrestricted Funds - General
Unrestricted Funds - Designated
Restricted Funds|
|---|---|
Movements on reserves and all recognised gains and losses are shown above.
Page 17