2022-12-31-accounts - Milton Keynes Tabernacle

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Report ofthe Trustees
Independent Examiner's	Report
Statement ofFinancial	Activities
Balance Sheet		4	to	5
Notes to the Financial Statements		6	to	11
Detailed Statement ofFinancial Activities			12

				31.12.22	31.12.21
		Unrestricted	Restricted	Total	Total
		fund	funds	funds	funds
	Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies		31,993		31,993	35,834
EXPENDITURE ON
Raising funds		3,680		3,680	6,277
Charitable activities
Ministry and church costs
		12,680	27,324	40,004	43,421
Total		16,360	27,324	43,684	49,698
NET INCOME/(EXPENDITURE) Transfers between funds	12	15,633 (13,200)	(27,324) 13,200	(11,691)	(13,864)
Net movement in funds		2,433	(14,124)	(11,691)	(13,864)
RECONCILIATION OF FUNDS
Total funds brought forward		18,010	194,967	212,977	226,841
TOTAL FUNDS CARRIED FORWARD		20,443	180,843	201,286	212,977

Freehold	property	4%on cost
Fixtures	and fittings	25% on reducing balance
Computer	equipment	25% on reducing balance

The average monthly number ofem	ployees during the year was as	follows:
			31.12.22	31.12.21
Ministerial staff (wages/fees)			1	1
No employees received emoluments	in excess off60,000.
COMPARATIVES FORTHE STATEMENT OFFINANCIAL		ACTIVITIES
		Unrestricted	Restricted	Total
		fundf	funds	funds f,
INCOME AND ENDOWMENTS	FROM
Donations and legacies		35,803	31	35,834
EXPENDITURE ON
Raising funds		6,277		6,277
Charitable activities
Ministry and church costs
		15,057	28,364	43,421
Total		21,334	28,364	49,698
NET INCOME/(EXPENDITURE)		14,469	(28,333)	(13,864)
Transfers between funds		(11,850)	11,850
Net movement in funds		2,619	(16,483)	(13,864)
RECONCILIATION OFFUNDS
Total funds brought forward		15,391	211,450	226,841
TOTAL FUNDS CARRIED FORWARD		18,010	194,967	212,977

TANGIBLE	FIXEDAS	SETS
				Improvements	Fixtures
			Freehold	to	and	Computer
			property f	property	fittings	equipment	Totals f
COST
At I January	2022 and
31December	2022		343,874	184,294	18,934	3,719	550,821
DEPRECIATION
At I January	2022		165,732	33,609	9,234	3,429	212,004
Charge for year			13,755	7,372	593	72	21,792
At 31December 2022			179,487	40,981	9,827	3,501	233,796
NET BOOK	VALUE
At 31December 2022			164,387	143,313	9,107	218	317,025
At 31December 2021			178,142	150,685	9,700	290	338,817
DEBTORS:	AMOUNTS	FALLING DUE WITHIN ONE YEAR
						31.12.22	31.12.21
						f,	f
Other debtors						1,700	1,700
Prepayments	and accrued	income				20,445	17,560
						22,145	19,260
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
						31.12.22	31.12.21
						f.
Bank loans and overdratts		(seenote	10)			8,557	8,228
Social security and other		taxes				2,568	2,568
Accrued expenses						2,620	1,861
						13,745	12,657

Notes f	to the Financial Statements - continued Year Ended 31D m	to the Financial Statements - continued Year Ended 31D m	to the Financial Statements - continued Year Ended 31D m
9.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE			YEAR
				31.12.22	31.12.21
				f.
	Bank loans (see note 10)			132,191	140,747
10.	LOANS
	An analysis ofthe maturity ofloans is given below:
				31.12.22	31.12.21
	Amounts falling due within one year on demand:
	Bank loans			8,557	8,228
	Amounts falling between one and two years:
	Bank loans - 1-2years			8,899	8,557
	Amounts falling due between two and five years:
	Bank loans - 2-5 years			28,892	27,780
	Amounts falling due in more than five years:
	Repayable by instalments:
	Bank loans more 5 yr by instal			94,400	104,410
11.	SECURED DEBTS
	The following secured debts are included within creditors:
				31.12.22	31.12.21
					I
	Bank loans			140,748	148,975
	The bank loan is secured by a legal charge on the fieeho(d property,		in favour ofBarclays Bank pic.
12.	MOVEMENT IN FUNDS
			Net	Transfers
			movement	between	At
		At 1.1.22	in funds	funds	31.12.22
		8
	Unrestricted funds
	General fund	18,010	15,633	(13,200)	20,443
	Restricted funds
	Building Fund
		192,406	(27,324)	14,200	179,282
	Welfare Fund
		2,311		(1,000)	1,311
	Klar Prospects Project	250			250
		194,967	(27,324)	13,200	180,843
	TOTAL FUNDS	212,977	(11,691)		201,286

Detailed Statement f rth earEn	ofFinancial Activities 31De m er2022
		31.12.22	31.12.21
INCOME AND ENDOWMENTS
Donations and legacies
Tithes		17,788	15,387
Offering		10,320	15,852
Thanksgiving		1,000	1,310
Donations		2,885	3,285
		31,993	35,834
Total incoming resources		31,993	35,834
EXPENDITURE
Raising donations	and legacies
Wages and fees		2,750	4,763
Social security			73
Ministry expenses		930	1,441
		3,680	6,277
Charitable activities
Wages		2,750	4,763
Social security			73
Building/combined	Insurance	3,369	3,032
Central office costs		2,355	2,364
Telephone		1,182	1,098
Subscriptions		595	590
Other insurances		216	216
Bank charges		97	92
Repairs and maintenance Depreciation oftangible fixed assets Loss on sale oftangible fixed assets		1,007 21,792	1,414 21,871 419
Bank loan interest		5,681	6,529
		39,044	42,461
Support costs
Governance costs
Accountancy and legal fees		960	960
Total resources expended		43,684	49,698
Net expenditure		(11,691)	(13,864)