Servant's Church Limited
Report and Accounts Year ended 30 April 2021
1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk
SERVANT'S CHURCH LIMITED
COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2021
Trustees
John Brown Adam Maggio Neil Mclaine Mike Robinson (resigned 15 June 2021) Paul Dean (appointed 2 July 2020)
Company Secretary
John Brown
Key Staff
John Brown
Governing Document
Memorandum and Articles of Association dated 15 May 2006
Company Registration Number Charity Registration Number
05817167
1115316
Principal Address and Registered Office
Hillcrest Chapel Weston Wood Road Norwich England NR7 0JY
Independent Examiner
Stephen Mathews, FCA Stewardship 1 Lamb's Passage London EC1Y 8AB
Bankers
Barclays
| Contents | Page |
|---|---|
| Company Information | 1 |
| Trustees' Annual Report | 2-4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Accounts | 8-15 |
| Detailed Statement of Financial Activities | 16 |
Page 1
SERVANTS CHURCH LIMITED
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 APRIL 2021
The trustees, who are the charity's directors for the purposes of company law, have pleasure in submitting the Report and Accounts for the year.
Objects of the charity
The advancement of Christianity for the benefit of the public in accordance with the following:
a. To worship God the Father, Son and Holy Spirit;
- b. To build up the Church of Jesus Christ, in particular through the teaching and preaching of the Word of God (The Bible);
c. To proclaim that men and women should repent and believe in Jesus Christ as Saviour and Lord;
As we have opportunity, to do good to all, especially to those who are of the household of faith (Galatians 6:10).
Summary of the charity's main activities and achievements
-
Meeting weekly for the purpose of worshipping God, prayer, reading and studying the Word of God and fellowshipping with one another to build each other up in the Faith.
-
Establish sources of material for individual study of the Word of God.
-
Provide supplemental meetings for instruction in effective and productive methods of individual and group study of the Word of God.
-
Promote and encourage individual and group prayer by providing supplemental meetings for the purpose of group prayer.
-
Promote and encourage individual development of worship of the Godhead through prayer, music and service to the Kingdom of God.
-
Promote and encourage all other aspects of individual and group growth in service toward the Kingdom of God through the development of the gifts and talents provided by God.
-
Present the facts and truth of mankind’s need for salvation and God’s plan and provision of that salvation through the substitutionary death and resurrection of His Son, Jesus Christ, to all who would hear and receive through regularly held church services and in various means of public outreach.
Since the beginning of the year the Covid pandemic continued to restrict public in person gatherings. The Church’s main activities remained mainly online. A short period towards the end of 2020 did allow for some physical meetings, which were a blessing. The Trustees did decide to return to online meetings in line with government guidance, as the new year subjected the UK to a second wave.
The Charity was regrettably unable to host another annual Church Camp but looked forward to the possibility in the following year. The annual men’s, women’s and youth retreats also had to be suspended. However more fellowship was being offered virtually with regular discipleship groups taking place for a variety of groups within the church.
This was taken as an opportunity to focus on building work at the new premise, Hillcrest Chapel. To that end the Trustees agreed to take out a business loan for the purposes of completing phase 2 of the building project which allowed us to accommodate midweek
Page 2
toddler groups, youth groups as well as a working office space. A small Sunday afternoon service has also commenced with limited children's ministry. Around £90,000 has been spent over the past two years. Refurbishment is ongoing, still to be completed in phase 3 is a handicapped parking bay in the front of the building, as well as an approved addition to the back of the building which will add more rooms for children's ministry and storage.
The Charity’s church plant in Gorleston-upon-sea came to a natural end as the pandemic prevented much activity or visible fruit. Zach Wilson the full time church planting pastor returned home to the United States at the end of February.
The Charity had the privilege to partner with other local churches and evangelistic organisations to provide online training and educational talks.
The charity was able to continue its financial support to many like-minded humanity organizations working with the most marginalized and deprived in places like South Sudan and Central Asia.
The Charity is encouraged by its continued growth and expects to be an even greater benefit to the community next year.
In planning the activities the Directors have had regard to the guidance on public benefit issued by the Charity Commission.
Structure, Governance and Management
The policy and operating decisions of the charity rest with the Directors who meet regularly to monitor the activities of the Company. New Directors are recruited and appointed by a majority of existing Directors.
Financial review
Total income for the year was £174,249 (2020: £185,213) and total expenditure was £164,806 (2020: £233,580), giving rise to an overall surplus of £9,443 (2020: deficit of £38,367).
The Charity’s primary source of funds is from free-will offerings received from those regularly attending the Sunday and various other meetings. In the year around 15% of our donations came from network churches in the USA.
Reserves Policy
The trustees have determined that the charity should aim to hold unrestricted cash of no less than £15,000 (which equates to about 1 month of unrestricted expenditure) so that the charity could continue to operate should income and / or expenditure vary adversely. At the year end, the charity held unrestricted cash of approximately £38,000.
In considering the financial situation it is relevant that the charity has taken a bank loan (see note 12 to the accounts) which stood at £30,000 at the 30 April 2021 which is repayable by instalments by 2026. The charity is monitoring its financial position and will keep the current policy under review to ensure the reserves and its policy is maintained at appropriate levels.
Key risks and uncertainties
The charity is exposed to various risks - be they operational, financial or reputational. The trustees review the charity's activities regularly to identify significant risks and, where possible, they take appropriate measures to mitigate those risks.
Responsibilities of trustees under company law
Page 3
The trustees are responsible for preparing the trustees' annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing these financial statements, the trustees are required to:
1.select suitable accounting policies and apply them consistently;
2.observe the methods and principles in the Charities SORP;
3.make judgements and estimates that are reasonable and prudent;
4.state whether the applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that 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.
Approval
This report was approved by the Directors and signed on their behalf by:
---------------------------------------------------------------John Brown
Date: 25 January 2022
Page 4
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF
SERVANT'S CHURCH LIMITED ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 April 2021 on pages eight to fifteen following, which have been prepared on the basis of the accounting policies set out on pages eight to nine.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Stephen Mathews, FCA
Stewardship 1 Lamb's Passage London EC1Y 8AB
Date: 26 January 2022
Page 5
SERVANT'S CHURCH LIMITED
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 APRIL 2021
| Note INCOME AND ENDOWMENTS FROM: Donations 3 Charitable activities 4 Investments Total income and endowments EXPENDITURE ON: Charitable activities 5 Total expenditure Net income/(expenditure) Transfers between funds 14 Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 14 |
Unrestricted Funds £ 161,955 1,702 - 163,657 135,304 135,304 28,353 (23,728) 4,625 8,234 12,859 |
Restricted Funds £ 10,592 - - 10,592 29,503 29,503 (18,911) 23,728 4,817 (4,817) - |
Total Funds 2021 £ 172,547 1,702 - 174,249 164,806 164,806 9,443 - 9,443 3,416 12,859 |
Total Funds 2020 £ 174,528 10,624 61 |
|---|---|---|---|---|
| 185,213 | ||||
| 223,580 | ||||
| 223,580 | ||||
| (38,367) - |
||||
| (38,367) 41,784 |
||||
| 3,416 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing operations.
The statement of financial activities also complies with the requirements for an income and expenditure account required by the Companies Act 2006.
The notes on page 8 - 15 form part of these accounts.
Page 6
SERVANT'S CHURCH LIMITED
BALANCE SHEET
AS AT 30 APRIL 2021
| Note FIXED ASSETS Tangible assets 7 CURRENT ASSETS Debtors 8 Cash at bank and in hand 9 CREDITORS: Amounts falling due within one year 10 Net current assets / (liabilities) Total assets less current liabilities CREDITORS: Amounts falling due 11 after more than one year TOTAL NET ASSETS FUND BALANCES 14 Unrestricted Funds General funds Designated funds Restricted Funds |
Unrestricted Funds £ 5,667 5,667 9,739 38,657 48,396 (15,703) 32,692 38,360 (25,500) 12,860 12,860 - 12,860 - 12,860 |
Restricted Funds £ - - - - - - - - - - - - - - - |
Total Funds 2021 £ 5,667 5,667 9,739 38,657 48,396 (15,703) 32,692 38,360 (25,500) 12,860 12,860 - 12,860 - 12,860 |
Total Funds 2020 £ 2,396 |
|---|---|---|---|---|
| 2,396 | ||||
| 4,485 28,103 |
||||
| 32,588 (31,567) |
||||
| 1,021 | ||||
| 3,417 - |
||||
| 3,417 | ||||
| 6,027 2,207 |
||||
| 8,234 (4,817) |
||||
| 3,417 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 in accordance with Section 476 of the Companies Act 2006 however, in accordance with Section 145 of the Charities Act 2011, the accounts have been examined by an independent examiner and their report has been included in these financial statements.
-
The directors (who are the charitable company's trustees for the purposes of charity law) acknowledge their responsibilities (a) ensuring that the charitable company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its net income or expenditure for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
The financial statements were approved by the Board of Directors and were signed on its behalf by:
John Brown
Date: 25 January 2022
Company number: 05817167
The notes on page 8 - 15 form part of these accounts.
Charity number: 1115316
Page 7
SERVANT'S CHURCH LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2021
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 conventio.
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. In making this assessment the trustees have considered how Covid-19 might affect projections.
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 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) Donated facilities, services and goods. 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.
Investment income represents income generated by the charity's assets and includes income from bank interest.
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.
The cost of raising funds is not significant and has not been separately disclosed.
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 8
SERVANT'S CHURCH LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2021
2 Accounting Policies (continued)
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.
f) Tangible fixed assets
Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £500 and the item 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:
Equipment Over 4 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.
j) Pension scheme arrangements
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.
k) 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.
l) 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).
n) Exemption from preparing a cashflow statement
The charity has taken advantage of an exemption conferred by the Charities SORP and has not prepared a cash flow statement. o) Critical accounting estimates and areas of judgement The trustees do not consider that there are any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period.
3 Donations
| 3 Donations |
||
|---|---|---|
| Donations of cash and similar Income tax recoverable 4 Income from charitable activities Conferences and events |
2021 £ 154,937 17,610 172,547 2021 £ 1,702 |
2020 £ 153,823 20,705 |
| 174,528 | ||
| 2020 £ 10,624 |
Page 9
SERVANT'S CHURCH LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2021
5 Charitable expenditure
| 5 Charitable expenditure |
||
|---|---|---|
| a Costs incurred directly on specific activities Salaries, travel and expenses Children, youth and student ministry Discipleship Hospitality Outreach Technical Gorleston - Church plant Rent Facilities Events and retreats Other costs Grants payable (note 5c) b Costs incurred on support & administration Governance costs Accounts and Independent examination Insurance, printing, postage and stationery Depreciation of tangible fixed assets Total expenditure |
2021 £ 70,794 3,980 2,055 1,340 255 2,404 19,850 14,816 30,718 129 825 147,167 8,763 155,930 2,040 3,729 3,108 8,877 164,806 |
2020 £ 76,827 4,690 1,290 4,233 981 1,675 22,167 14,045 64,993 14,592 592 |
| 206,086 8,565 |
||
| 214,651 | ||
| 2,040 5,365 1,523 |
||
| 8,929 | ||
| 223,580 |
The fee payable to the independent examiner for preparing and examining the accounts was £2,040 (2020: £2,040); in addition the charity paid £50 (2020: £50) to Stewardship for consultancy services.
c Grants payable
| Grants for UK and overseas mission Grants for education Grants for other purposes The comparatives for the previous year are as follows: Grants for UK and overseas mission Grants for the relief of poverty The charity's principal grants to institutions comprised: Home for Good In Deed and Truth ministries Friends International Calvery Chapel King's Lynn Gospel for Asia Grants to institutions for less than £1,000 each |
Institutions £ 4,963 - 1,800 6,763 Institutions £ 8,465 8,465 |
Individuals £ - 2,000 2,000 Individuals £ 100 100 2021 £ 1,800 1,200 1,200 1,200 300 2,863 6,763 |
2021 £ 4,963 2,000 1,800 |
|---|---|---|---|
| 8,763 | |||
| 2020 £ 8,465 100 |
|||
| 8,565 | |||
| 2020 £ - 1,200 1,200 1,200 2,950 4,315 |
|||
| 8,465 |
Page 10
SERVANT'S CHURCH LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2021
6 Analysis of staff costs, the cost of key management personnel and trustee remuneration and expenses
The average monthly number of employees during the year was 5 (2020: 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.
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:
fits payable to key management for the year were as follows: |
||||
|---|---|---|---|---|
| Other | Employer | |||
| Wages & | employment | pension | 2021 | |
| salaries | benefits | contributions | £ | |
| Trustees: | ||||
| John Brown | 30,600 | 731 | 31,331 | |
| following amounts were payable in the previous year: | ||||
| Other | Employer | |||
| Wages & | employment | pension | 2020 | |
| salaries | benefits | contributions | £ | |
| Trustees: | ||||
| John Brown | 34,600 | - | 2,846 | 37,446 |
The following amounts were payable in the previous year:
John Brown served as 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 May 2020 Additions At 30 April 2021 Accumulated depreciation At 1 May 2020 Charge for the year At 30 April 2021 Net book value At 30 April 2021 At 30 April 2019 |
Ministry equipment £ 17,899 6,380 24,279 15,503 3,108 18,611 5,667 2,396 |
Office equipment £ 736 - 736 736 - 736 - - |
Total 2021 £ 18,635 6,380 |
|---|---|---|---|
| 25,015 | |||
| 16,239 3,108 |
|||
| 19,347 | |||
| 5,667 | |||
| 2,396 |
Page 11
SERVANT'S CHURCH LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2021
8 Debtors
| Falling due within one year: Tax recoverable Prepayments and accrued income 9 Cash at Bank and in Hand Cash at bank with immediate access Notice deposits (with a term of three months or less) 10 Creditors Liabilities falling due within one year Trade creditors Taxation and social security Accruals Loans 11 Creditors: amounts falling due after more than one year Loans 12 Loans Repayable: Within one year Between one and five years After five years Repayable: Within one year Between one and five years After five years |
Otherwise than by instalments - Otherwise than by instalments - - - - |
By instalments 4,500 24,000 1,500 30,000 By instalments - - - - |
2021 2020 £ £ 9,515 4,261 224 224 9,739 4,485 2021 2020 £ £ 34,674 25,625 3,982 2,479 38,657 28,103 2021 2020 £ £ 4,442 6,297 704 872 6,057 4,398 4,500 20,000 15,703 31,567 2021 2020 £ £ 25,500 - 25,500 - 2021 2020 £ £ 4,500 - 24,000 - 1,500 - 30,000 - 2021 2020 £ £ - 20,000 - - - - - 20,000 Concessionary loans Bank loans |
2020 £ 4,261 224 |
|---|---|---|---|---|
| 4,485 | ||||
| 2020 £ 25,625 2,479 |
||||
| 28,103 | ||||
| 2020 £ 6,297 872 4,398 20,000 |
||||
| 31,567 | ||||
| 2020 £ - |
||||
| - | ||||
| 20,000 |
The bank loan referred to in the above notes is supported by the UK government Bounce Back Loan Scheme. Interest is payable at a fixed rate of 2.5%, and interest for the first twelve months of the loan is paid by the UK government. The loan is being repaid in monthly instalments (starting in 2022) and must be repaid in full by 2026.
In the prior year the church received concessionary loans which were interest free and unsecured; they were both repaid during this year.
13 Pension commitments
During the year employer’s pension contributions totalling £3,480 (2020: £3,588) were payable to defined contribution personal pension schemes. No pension contributions were owing at the balance sheet date (2020: £nil).
Page 12
SERVANT'S CHURCH LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2021
14 Funds
During the year the movements in the charity's funds were as follows:
| Designated Funds Church Plant Fund General Unrestricted Funds Total Unrestricted Funds Restricted Funds Building Fund Aggregate of funds |
Opening balance 2021 £ 2,207 6,027 8,234 (4,817) 3,417 |
Incoming resources 2021 £ 23,332 140,325 163,657 10,592 174,249 |
Outgoing resources 2021 £ (19,850) (115,453) (135,304) (29,503) (164,806) |
Transfers in the year 2021 £ (5,688) (18,040) (23,728) 23,728 - |
Gains and losses 2021 £ - - - - - |
Closing balance 2021 £ - 12,859 |
|---|---|---|---|---|---|---|
| 12,859 | ||||||
| 0 | ||||||
| 12,860 |
Page 13
SERVANT'S CHURCH LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2021
14 Funds (continued)
Analysis of net assets by fund
The assets and liabilities of the various funds were as follows:
| Tangible fixed assets Debtors Cash at bank and in hand Creditors falling due within one year In the previous year the movements in the Designated Funds Church Plant Fund General Unrestricted Funds Total Unrestricted Funds Restricted Funds Building Fund Aggregate of funds |
charity's funds Opening balance 2020 £ - 39,133 39,133 2,650 41,784 |
General Designated funds funds £ £ 5,667 - 9,739 - 38,657 - (15,703) - 12,860 - were as follows: Incoming Outgoing Transfers resources resources in the year 2020 2020 2020 £ £ £ 24,374 (22,167) - 136,405 (141,515) (27,996) 160,779 (163,683) (27,996) 24,434 (59,897) 27,996 185,213 (223,580) - Unrestricted Funds |
Restricted funds £ - - - - - Gains and losses 2020 £ - - - - - |
2021 £ 5,667 9,739 38,657 (15,703) |
|---|---|---|---|---|
| 12,860 | ||||
| Closing balance 2020 £ 2,207 6,027 |
||||
| 8,234 | ||||
| (4,817) | ||||
| 3,417 |
Analysis of net assets by fund
In the previous year, the assets and liabilities of the various funds were as follows:
| Tangible fixed assets Debtors Cash at bank and in hand Creditors falling due within one year |
General Designated funds funds £ £ 2,396 - 4,485 - 30,713 2,207 (31,567) - 6,027 2,207 Unrestricted Funds |
Restricted funds £ - - (4,817) - (4,817) |
2020 £ 2,396 4,485 28,103 (31,567) |
|
|---|---|---|---|---|
| General funds £ 2,396 4,485 30,713 (31,567) 6,027 |
||||
| 3,417 |
The Church Plant Fund is a designated fund to allow for future expenditure on costs associated with the planting of a new church, either directly or in support of another church plant initiative.
The Building Fund is a restricted fund to allow for future expenditure on buildings. During the year expenditure of £29,503 (within facilities, note 2 above) was spent on refurbishment of the building used by the church.
The building used by the church is owned by Hillcrest Chapel Trust. In 2020 the Trustees of this charity became trustees of Hillcrest Chapel, and the church now occupies the building rent-free but with refurbishment responsibilities.
Page 14
SERVANT'S CHURCH LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2021
15 Transactions with related parties During the year the charity:
-
a) received donations totalling £6,421 (2020: £12,515) from related parties (which includes trustees, any other members of key management and anyone closely connected to them).
-
b) No expenses (2020: £nil) were paid to, or for, the 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.
Except as disclosed in note six 'Analysis of staff costs', there have been no other transactions with related parties during the year.
16 Members
Each member of the company commits to contribute if the charity is wound up an amount of £10.
Page 15
SERVANT'S CHURCH LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES
FOR THE YEAR ENDED 30 APRIL 2021
| Note INCOME AND ENDOWMENTS FROM: Donations 3 Charitable activities 4 Investments Total income and endowments EXPENDITURE ON: Charitable activities: 5 Total Expenditure Net income/(expenditure) Transfers between funds 14 Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 14 |
General Designated 2021 2021 £ £ 138,623 23,332 1,702 - - - 140,325 23,332 115,453 19,850 115,453 19,850 24,872 3,481 (18,040) (5,688) 6,832 (2,207) 6,027 2,207 12,859 - Unrestricted funds |
Restricted 2021 £ 10,592 - - 10,592 29,503 29,503 (18,911) 23,728 4,817 (4,817) - |
Total 2021 £ 172,547 1,702 - 174,249 164,806 164,806 9,443 - 9,443 3,416 12,859 |
General Designated 2020 2020 £ £ 125,732 24,374 10,624 - 49 - 136,405 24,374 141,515 22,167 141,515 22,167 (5,110) 2,207 (27,996) - (33,106) 2,207 39,133 - 6,027 2,207 Unrestricted funds |
Restricted 2020 £ 24,422 - 12 24,434 59,897 59,897 (35,464) 27,996 (7,468) 2,650 (4,817) |
Total 2020 £ 174,528 10,624 61 185,213 223,580 223,580 (38,367) - (38,367) 41,784 3,416 |
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