Annual Report and Financial Statements for the Year Ended 31 July 2023 The Parkside Evangelical Trust Charity reglstritlon number: 1119811 Independent Examlners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex P018 8NF
THE PARKSIDE EVANGELICAL TRUST CONTENTS Reference and Admlnlstratlve Detalls Trustees, Report 2to5 Independent Examlner's Report Statement of Flnancbal Actlvltles Balance Sheet Notes to the Financial Statements 9t0 18
THE PARKSIDE EVANGELICAL TRUST REFERENCE AND ADMINISTRATIVE DETAILS Trustees Malcolm Hyde Nina Mills David Nickless Paul Burden Charity Registration Number 1119811 Principal Office I St Flora's Road Llttlehampton West Sussex BN17 6BD Independent Examiner G W Schulz ACMA Independent Exèminers Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chlchester West Sussex P018 8NF Bankers CAF Bank 25 Kings HS11 Avenue Kings Hill West MallSng Kent ME19 4JQ Page I
THE PARKSIDE EVANGELICAL TRUST TRUSTEES, REPORT The Trustees present the annual report together wlth the flnancial statements of the charity for the year ended 3 1 July 2023. Structure, governance and management Nature of governlng document The Trust was started by a Deed of Trust dated S May 1972. In June 2007 the Church was registered with the Charity Commisssion and a new Trust Deed dated 10 November 2006 was adopted. The prlnclpal object of the charity Is to operate Parkside Evangellcal Church as an independent evangelical church in Littlehampton, West Sussex. Recruitment and appointment of Trustees The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. Organisational structure The Trustees are the employers of staff members. The day-to-day management and running of the Trust was delegated to the Pastor and the Elders of the Church. The Trustees met four tlmes durlng the year. The Elders rnet on a regular basis to discuss the ongolng Ilfe and work of the Church. The practical matters relating to the Church were delegated to a Team of Deacons who have the responsibility for malntalnlng and supervising the use of the Church bulldings. The responsibility for the spiritual life of the Church Is vested in the Pastor and Elders. Risk management The trustees have assessed the major rbsks to whlch the Charity Is exposed, In partlcular those related to the operations and fbnances of the Charity, and are satisfied that systems and procedures are In place to mltlgate exposure to the major risks. Objectives and activities Objects and aims l. To advance the cause of the Chrlstian faith both in this country and abroad. This involves supporting those engaged in mission locally, nationally ènd intern6tlonally, either as individuals or working with organisatlons. 2. To provide help and support, spirltually, flnanclally and emotionally to those in need, whether in the Church or In the local community. 3. To make the premlses avallable, at the discretlon of the Elders, to other organlsations in the community. 4. To arrange servlces and events for all age groups - these will have a varied content, which may include splrltual, educatlonal or recreètlonal. Page 2
THE PARKSIDE EVANGELICAL TRUST TRUSTEES. REPORT (CONTINUED) Public benefit The Trustees confirrn that they have complied with the requlrements 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, Achlevements and performance In accordance with the guldellnes for the Advancement of Religion for the Publlc Beneflt, the Church engaged in a wide variety of activities, both within the Church, worklng wlth other Churches and in the wider community. The Pastor Rory Mcclure is now in his eleventh year of mlnlstry. There has been ch311enging, consecutive Bible teaching throughout the year and the Pastor has continued excellent YouTube servlces recorded live and posted online. The church has contlnued to grow as we have been meeting and worshipping together again normally and for most activities to be started again. Financlol support for this work has become more of a concern as we are using some reserves to meet our requirements following loss of Income from the Preschool which had to cease and the costs of renovating the church cottage ready for renting. Encouragement in the practice of the Christian faith During the year existing Church members have been encouraged in the practice of the Chrlstlan falth through regular services, good Bible teaching and fellowshlp meetlngs. The main servlces have been held on Sundays. The morning services have attracted a wide age range of people and the average attendance has been over 60 most weeks. The Evening service is regularly attended by 18 to 30 people. Home Groups also form part of the process of encouraglng people In the Christian faith and these continued fortnlghtly throughout the year. Prayer meetings have taken place on Zoom. Seeklng new followers One of the ways to advance the Christ13n faith is to engage in sharing that faith with people of different faiths or none. The posting of our service5 on YouTube resulted in several new people attending services. There were three baptisms in September 2022. We are pleased that new members iritegrated into Ihe church well. These folk had been attending the church services regularly. The Tuesday Fellowship afternoon teas have continued and are regularly attended by 20- 25 people. A Saturday afternoon Skills Swap Shop continues to encourage folk to share their skills with others by practlcal demonstrations and workshops. The church held a servlce and Communlty meèl for the Kings Coronation and also for our Church's 50th Anniversary. Both were attended by over 90 people. Missionory and outreach work Durlng the year members of the Church have been able to malntaln support for different Missions and Christlan Charltles. Church members have been kept informed about these mlnlstrles. Page 3
THE PARKSIDE EVANGELICAL TRUST TRUSTEES, REPORT (CONTINUED) A small team were able to take servi5 In Oakland Grange Care Home. These are well attended and appreciated. In August, a summer camp in conjunction with other local Churches for children aged 9- 1 I from local primary schools was again held at Lodge Hlll campsite. Church members through the church's funds made donations to the Operation Romanla Trust, the Gideon's, London City Mission, Slavic Gospel Association, Medlaserve, Tearfund, Release International, Wycllffe Bible Translatlon and local charitles Turning Tides Homeless project, and the Littlehampton Food Bank. Coffee mornings were held to ralse funds for SGA, Operatlon Romanla Trust and Release Internatlonal. The church contbnues to work with the Littlehampton Churches Together group and pastor mcclure chaired this for the year. A combined New year Unlted servlce and a Pentecost service at the church were both well attended. Members took part in a march of Witness on Good Friday. The church is a member of the Sussex Gospel Partnership which offers Bible based trainlng courses and conferences for church leaders and members across Sussex. The church contlnues to be a member of the Evangelical Alliance. Pastoral Care Durlng the year the pastoral care of Church members has continued to be a priorlty. Home visiting and care home and hospital visits continue. Members make regular phone calls, help with practlcal issues when needed, provide lifts to hospital appointments and the Pastor offers support and counselling to those in need. The Church has been able to help members in several ways, for example, financial matters, and links with the local authority and supporting families in the community. The church is continuing to try and support those that are in great need. Use of the buildings The bulldlngs continued to be used by groLJPS frorn the local communlty. Sllmmlng World continues to meet every week on the premises. The following groups Arcade Knltters, Llttlehampton Flower group and the Beaumont Flower group and the Littlehampton Wl are open to members of the local community and provide opportunities for meeting together. It Is clear from the above report that Parkside Church Trust has demonslrated during the year ending 31st JLJIY 2023 that their work in the advancement of the Christlar) falth has been for the public benefit Financial review The principal funding of the Church Is provided by member5 donations which are given under Gift Aid whenever possible. Income in the year increased by £3,978 to £74,271. Loss on investments amounted to £2,754 12022 loss £5,081). Expendlture has increased in the year by £30,399 to £121,003. The deflclt for the year amounts to £49,486 (2022 deficit £25,392) and the reserves to carry forward amount to £413,113. Page 4
THE PARKSIDE EVANGELICAL TRUST TRUSTEES. REPORT (CONTINUED) Going concern After making appropriate enqulrles, the Trustees have a reasonable expectation that the charlty 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. statement of Responslbilitles The Trustees are responsible for preparlng the Trustees, report and the financlal statements In accordance with the United Kingdom Accounting Standards (United Klngdom Generally Accepted Accounting Practice) and appllcable law and regulations. The law Bppllcable to charltles requires the Trustees to prepare financlal statements for each flnanclal year which give a true and fair view of the state of affalrs of the charity and of the incoming resources and appllcatlon of resources of the charity for that period. In preparlng these flnancbal statements, the Trustees are required to.. select suitable accountlng policles and then apply them conslstently; • observe the methods and principles in the Charities SORP. make judgements and estimates that are reasonable and prudent,. • stète whether applicable accounting standards have been followed, subject to any materlal departures dlsclosed and explained In the flnancial statements. and prepare the financial statements on the going concern basls unless St is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping proper accounting records that dlsclose with reasonable accuracy at any ti me the financial position of the charity and enable them to ensure that the financial statements comply wlth the Charities Act 2011, the Charities (Accounts and Reports) Regulation5 2008, and the provisions of the constitution. The Trustees are also responsible for safeguarding the assets of the charlty and hence for taking reasonable steps for the prevention and detectlon of frèud and other irregularities. The annual report was approved by the Trustees of the charity on 15 January 2024 and slgned on Its behalf bv.. Malcgm-Hyde Trustee David rtrfiess Ic Trustee Page 5
THE PARKSIDE EVANGELICAL TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PARKSIDE EVANGELICAL TRUST I report to the Trustees on my examination of the accounts of The Parkside Evangelical Trust for the year ended 31 July 2023. Responsibilities and basis of report As the charity Trustees of The Parkslde Evangellcal Trust you are responslble for the preparation of the accounts In accordance wbth the requlrements of the Charities Act 2011 ('the Act,). I report in respect of my examlnatlon of the The Parkside Evangelical Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions glven by the Charlty Commission under section 145(51{bl of the Act. Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to belleve that in any material respect.. l. accounting records were not kept In respect of The Parkside Evèngelical Trust as requlred by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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, I have no concerns and have come across no other matters In connection with the examination to whlch attentlon should be drawn In thls report in order to enable a proper understanding of the accounts to be reached. G W Schulz ACMA Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex P018 8NF 15 January 2024 Page 6
THE PARKSIDE EVANGELICAL TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2023 Unrestricted Restricted funds funds Total 2023 Total 2022 Note Income and Endowments from: Donations and legacies Investment income other income 60,463 143 5,522 65,985 143 52,566 25 Total income Expenditure on: Charitable activities 115 481 121 003 Total expendlture Gainsllosses on investment assets 115,481 5,522 121,003 90,604 Net expendlture Net movement in funds 149,486) (49,486) 125,392) Reconciliation of funds Total funds brought forward 462 599 462 599 487 991 Total funds carried forward 14 413 113 413 113 462 599 The notes on pages 9 to 18 form an Integral part of these flnancial statements. Page 7
THE PARKSIDE EVANGELICAL TRUST BALANCE SHEET AS AT 31 JULY 2023 2023 2022 Note Fixed assets Tangible assets 333 774 345 284 333 774 345 284 Current assets Debtors Investments Cash at bank and in hand io 3,672 61,505 2,817 76,152 81,477 119,562 Creditors. Amounts falllng due wlthln one year 12 Net current assets 117 315 Net assets 413 113 462 599 Funds of the charity: Unrestricted income funds Unrestricted funds 413 113 462 599 Total funds 14 413 113 462 599 The financial statements on pages 7 to 18 were approved by the Trustees, and authorised for issue on 15 January 2024 and slgned on their behalf by.. Malcolm Trustee de Davi£k*41iOess Trustee The notes on pages 9 to 18 form an integral part of these flnanclal statements. Page 8
THE PARKSIDE EVANGELICAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 l Accountlng polleies statement of compliance The financlal statements have been prepared in accordance with the second edition of the Charltles Statement of Recommended Practice issued in October 20 19, the Financial Reportbng Standard applicable in the United Kingdom and Republlc of Ireland {FRS 102) and the Charltles Act 2011. Basis of preparation The Parkside Evangellcal Trust meets the deflnltlon of a public benefit entity under FRS 102. The accounts (financlal statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note{s) to these accounts. Golng concern The Trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. Income and endowments Voluntary income including donations, gifts, legacies and grants that provide core fundlng or are of a general nature is recognised when the charity has entitlement to the ncome, it is probable that the income will be received and the amount can be measured with sufficient reliability. Donations and legacies Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be rellably measured. Gift aid Income tax recoverable in relation to donations received under Gift Ald or deeds of covenant is recognised at the time of the donation. Interest receivable Interest on funds held on deposit is included when recelvable and the amount can be measured reliably by the charlty,. thls Is normally upon notiflcation of the Interest paid or payable by the Instltution with whom the funds are deposited. Investment income Dividends are recognised once the dividend has been declared and notification has been recelved of the dlvidend due. Page 9
THE PARKSIDE EVANGELICAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 (CONTINUED) Expenditure All expenditure Is recognlsed once there is a legal or constructlve 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 simi5ar costs to that category. Charitable actlvltles Charitable expendlture comprlses those costs Incurred by the charlty In the dellvery of its actlvltles and servlcos for its beneflciaries. It includes both costs that can be allocated dlrectly to such activltbes and those costs of an indirect nature necessary to support them. Grant provisions Provisions for grants are made wher) the intention to make a grant has been communicated to the recipient but there is unceriainty about either the timlng of the grant or the amount of grant payable. Taxation The charity is consldered to pass the tests set out in Paragraph I Schedule 6 of the Flnance Act 2010 and therefore it meets the definltion of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxatlon In respect of income or capital gains received within categorles covered by Chapter 3 Part I l of the Corporation Tax Act 2010 or Section 256 of the Taxètion of Chargeable Gal ns Act 1992, to the exlent that such Income or galns are applled exclusively to charltable purposes. Tangible fixed assets Individual fixed assets costing £0.00 or more are initially recorded at C05t, less any subsequent accumulated depreciatlon and subsequent accumulated impalrment losses. Depreelatlon and amortisation Depreciation is provided on tangible fixed assets SO as to write off the cost or valuatlon, less any estlmated resldual value, over their expected useful economlc Ilfe as follows.. Asset class Land and buildlngs Building improvments and fixtures Furniture and equipment Depreciation method and rate 20/0 on cost 2Wo on cost 20Wo on cost 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. Page 10
THE PARKSIDE EVANGELICAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 (CONTINUED) Cash and cash equivalent$ Cash and cash equivalents comprlse 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. Llablllties 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 charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or servlces 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 charlty. Restrlcted funds are fLJnds whlch are to be used in accordance with speciflc restrSctlons imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged agalnst the specific fund. The aim and use of each restricted fund Is set out in the notes to the financial statements. Pensions and other post retirement obligations The charity operates a defined contribution pension scheme which 15 a pension plan under whlch fixed contrlbutions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee Service in the current and prlor perlods. Contributions to defined contribution plans are recognised in the Statement of Flnanclal Activities when they are due. If contrlbution payments exceed the contribution due for service, the excess Is recognlsed as a prepayment, Page 11
THE PARKSIDE EVANGELICAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 (CONTINUED) 2 Income from donations and legacies Unrestricted funds General Restricted funds Total 2023 Total 2022 Donatlons and legacies,. Donatlons 3 Investment income Unrestricted funds General Restricted funds Total 2023 Total 2022 Interest receivable and similar Income. Interest recelvable on bank deposlts 143 143 25 4 Other income Unrestricted fund5 General Restricted funds Total 2023 Total 2022 Rental Income Page 12
THE PARKSIDE EVANGELICAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 (CONTINUED) 5 Expendlture on charltable aetlvities Unrestricted funds General Restrlcted funds Total 2023 Total 2022 Note Events and activities costs 1,153 1,153 491 Worship and book expenses Glfts to speakers Youth and chlldren's work OLJtreach Advertising Telephone and internet Repairs and maintenance utilities Insurance Printing and statlonery Training/travel Financial services Independent examination Depreciation, amortisation and other slmllar costs Grant fundlng of activities staff costs 1,075 175 1,075 175 948 loo 481 481 178 854 130 178 764 764 688 42,552 2,702 3,316 3,925 46,477 2,702 3,316 13,746 3,245 2.878 1,405 1,405 1,286 188 201 183 183 1,380 1,380 1,380 11,510 11,510 11,509 2,121 46,486 115 481 1.597 3,718 46,486 8,363 121 003 Page 13
THE PARKSIDE EVANGELICAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 (CONTINUED) 6 Grant-making Analysis of grants Grants to institutions 2023 2022 Grants to individuals 2023 2022 Grants paid 150 7 Trustees remuneratlon and expenses No Trustees, nor any persons connected wlth them, have recelved any remuneration from the charlty durlng the year. No Trustees have received any reimbursed expenses or any other benefits from the charity during the year. 8 Staff costs The aggregate payroll costs were as follows.. 2023 2022 staff costs during the year were: Wages and salBries Pension costs 45,549 937 43,694 895 The monthly average number of persons (including senior management I leadershlp team) employed by the charity during the year expressed as full time equivalents was as follows.. 2023 No 2022 No staff No employee reiVed emoluments of more than £60,000 durlng the year Page 14
THE PARKSIDE EVANGELICAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 (CONTINUED) 9 Tangible fixed assets Building Improvements and fixture$ Furniture and equlpment Land and buildings Computer equipment Total Cost At l August 2022 400 000 15 797 428 939 At 31 July 2023 400 000 428 939 Depreciation At l August 2022 Charge for the year 64,000 5,343 2,824 11,488 83,655 316 At 31 luly 2023 Net book value At 31 July 2023 328 000 333 774 At 31 July 2022 336 000 345 284 The Church revalued its freehold property manv vears ago and has elected to use this valuatlon as the deemed cost of the property under the transitional provisions for the doptlon of Charltles SORP FRS102. The Church building in St Flora's Road, Littlehampton is included at a value of £340,000, and the Church cottage is shown at it's valuation of £60,000. 10 Debtors 2023 2022 Prepayments Accrued income 2,889 783 2,496 321 11 Current asset investments 2023 2022 Llsted other shares Page 15
THE PARKSIDE EVANGELICAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 (CONTINUED) 12 Creditors: amounts falling due within one year 2023 2022 Other taxatlon and soclal securlty Accruals 643 699 13 Pension and other schemes Defined contribution pension scheme The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contrlbutions payable by the charity to the scheme and amounted to £937 {2022 - £895). Page 16
THE PARKSIDE EVANGELICAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 (CONTINUED) 14 Funds Balance at l August 2022 Balance at 31 July 2023 Incoming resources Resources expended Unrestrlcted funds General General Funds 462,599 65,995 1115,481) 413,113 Restricted funds Bullding fund Specific gifts fund 3,925 (3,925) Total funds 462 599 121 003 413 113 Balance at l August 2021 Balance at 31 Julv 2022 Incoming resources Resources expended Unrestrlcted funds General General Fund5 487,991 63,442 (88,834) 462,599 Restricted funds Speclflc glfts fund 1,770 Total funds 487 991 462 599 Page 17
THE PARKSIDE EVANGELICAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 (CONTINUED) 15 Analysis of net assets between funds Unrestricted Total funds funds at 31 July General 2023 Tangible fixed assets Current assets Current liabilities 333,774 81,477 333,774 81,477 Total net assets 413 113 413 113 Unrestricted Total funds funds at 31 July General 2022 Tangible fixed assets Current assets Current liabllitles 345,284 119,562 345,284 119,562 Total net assets 462 599 462 599 Page 18