Company Registration number 06101946 Charity Registration number 1120286
## **EMMANUEL CHURCH DURHAM**
(a Company limited by guarantee without Share Capital)
## **ANNUAL REPORT AND FINANCIAL STATEMENTS**
## **31 March 2021**
Stephenson Coates Audit Limited Chartered Accountants West 2, Asama Court Newcastle Business Park Newcastle upon Tyne NE4 7YD
**EMMANUEL CHURCH DURHAM** (a Company limited by guarantee without Share Capital)
## **CONTENTS**
||**Page**|
|---|---|
|Report of the directors|1 - 5|
|Independent examiner’s report|6|
|Statement of financial activities|7|
|Balance sheet|8 - 9|
|Cash flow statement|10|
|Notes to the financial statements|11 - 18|
**EMMANUEL CHURCH DURHAM** (a Company limited by guarantee without Share Capital)
## **REPORT OF THE DIRECTORS**
The directors present their report and the financial statements for the year ended 31 March 2021.
## **Reference and administrative details**
|**Company number:**|06101946|
|---|---|
|**Charity number:**|1120286|
|**Principal address:**|The Durham Centre|
||Belmont Industrial Estate|
||Durham|
||DH1 1TN|
|**Independent examiner:**|John Oswald BA FCA|
||Stephenson Coates Audit Limited|
||Chartered Accountants|
||West 2, Asama Court|
||Newcastle Business Park|
||Newcastle upon Tyne, NE4 7YD|
|**Bankers:**|CAF Bank|
||25 Kings Hill Avenue|
||Kings Hill|
||West Malling|
||Kent, ME19 4JQ|
||Barclays Bank PLC|
||6 Market Place|
||Durham|
||DH1 3ND|
|**Solicitors:**|Richmond Partnership|
||19 Old Elvet|
||Durham|
||DH3 3TA|
|**Directors**||
The following directors of the charitable company (who are its trustees for the purposes of charity law) served during the year and up to the date of approval of this report:
G A Bell Executive Chairman and Senior Elder I J Portwine Executive Director and Elder J E Booth Non-executive and Treasurer W R Byng Non-executive lay member **Company secretary:** A J Biggs
Page 1
## **EMMANUEL CHURCH DURHAM**
(a Company limited by guarantee without Share Capital)
## **REPORT OF THE DIRECTORS**
_(continued)_
## **Structure, governance and management**
## **Governing document**
Emmanuel Church Durham is a Company limited by guarantee, governed by its Memorandum and Articles of Association dated 13 February 2007.
The charitable company was incorporated in order to provide a distinct legal entity to carry out the activities of Emmanuel Church Durham which since 1991 had been undertaken through a charitable trust. The company was registered with the Charity Commission on 26 July 2007. On 1 December 2007 the entire assets, liabilities and undertakings of the Emmanuel Church Durham charitable trust were transferred to the charitable company.
There are currently three members, each of whom agree to contribute £1 in the event of the charitable company winding up.
## **Appointment and retirement of directors**
Directors are required to sign a confirmation that they adhere to the articles of faith contained within the company's Memorandum and Articles of Association and that they understand their obligations as directors. Directors serve for a fixed term of two years and are eligible for reappointment.
## **Directors’ induction and training**
The Charity Commission website and publications are used to keep the directors up to date with developments in the charitable sector. The necessity for formal training sessions for individual directors is reviewed each year.
## **Organisation**
The charitable company operates primarily in the County Durham area, with links with churches and Christian organisations both in the UK and internationally. Church membership is voluntary and free.
The charitable company is overseen by a board of directors, which consists of the two of the five leaders – Elders - of Emmanuel Church and, currently, two lay members. The Elders of the Church are responsible for the day-today running of the charitable company, including the direction of the Church and the pastoral care of the membership. The lay members include the Treasurer and other persons operating in a non-executive capacity.
The board of directors meets at least quarterly, to review the finances, risk management, legal issues and other matters affecting the charitable company. A separate remuneration sub-committee operates consisting of the nonexecutive directors who do not receive payments from the charitable company to review the financial provision for the two full-time executive directors.
In setting our objectives and planning our activities, the directors have regard to the Charity Commission's public benefit guidance when exercising any powers or duties to which the guidance is relevant.
Page 2
**EMMANUEL CHURCH DURHAM** (a Company limited by guarantee without Share Capital)
## **REPORT OF THE DIRECTORS**
_(continued)_
## **Risk management**
The board of directors considers the major risks to which the charitable company is exposed and identifies the appropriate mitigation. To this end the charity has taken out employer's liability, public liability and buildings insurance.
A strict child protection policy is implemented; all voluntary helpers who work with children are subject to criminal records bureau checks and must comply with detailed guidelines for the care of children. In order to ensure the safety of the Church members and general public a team of stewards operate during Sunday meetings. A fire evacuation plan has been drawn up.
A system of financial control exists to prevent the loss of the charity's assets through fraud and mismanagement. Financial reports are made at least quarterly to the Board.
## **Objectives, activities and achievements**
The objectives of the charitable company are:-
- a) The advancement of the Christian Faith;
- b) The relief of persons who are in a condition of need or hardship;
- c) The provision of instruction in the Christian Faith.
The vision of the Church is - _To be a growing charismatic family church with a world vision._
This year will be marked in history as the year of the COVID-19 global pandemic. This has obviously had a huge impact on our activities and achievements of a church. We have faced many challenges but are pleased to say that we have overcome those and feel that we have done well in adapting to the circumstances whilst maintaining our charitable aims, and compliance with government restrictions. We would firstly like to commend our leaders and Church members for their patience and adaptability over the year.
Our Sunday morning meetings have moved online with a pre-recorded You-tube video being released involving worship, notices and a sermon, this was followed by a separate broadcast for our children. When allowed we met in person at The Durham Centre (TDC), which was adapted to be COVID secure, with a limit on numbers, contact details recorded, no singing, one-way systems and hand sanitisers. We continued with an online presence when we met in person. Even during this time, we saw growth, with at times 20% of the in-person congregation being new people.
All of our smaller meetings: Leaders, Emmanuel Community groups, prayer, Students, kids, moved onto Zoom and were embraced by the majority of people. The use of Zoom also opened up opportunities to connect more freely and regularly with our friends across the nations which is an aspect that we wish to see develop going forward.
Because of the lack of opportunities of in-person meetings we furloughed for some period staff involved in student and kids’ provision
During the year we were able to produce a series of twelve videos highlighting the social action work of the Church community. Many of these were able to adapt to the circumstances. For example, “Make Lunch” moved to a meals on wheels model which maintained some contact with the families we know in the community.
Conference trade during the year has been halted. We are grateful to government grants and the furlough scheme which has avoided any need for redundancies. As a consequence of this, TDC incurred losses in the year.
Page 3
**EMMANUEL CHURCH DURHAM**
(a Company limited by guarantee without Share Capital)
## **REPORT OF THE DIRECTORS**
_(continued)_
## **Objectives, activities and achievements** _(continued)_
Despite the lockdown we pushed on with the development of The Emmanuel Centre (TEC). Phase 1 development to establish of a 500-seater auditorium was not completed because of a design fault with the heating system which rendered it not fit for purpose. We were unable to launch the venue as planned on Easter Day 2021. We hope that this can be rectified promptly. We were however able to have a “Foundations Day” where members were able to remotely contribute; the event has been recorded and will be used in the future.
## **Financial review**
We remain extremely grateful for the strength of our voluntary income, both regular giving and giving for specific purposes. The Durham Centre incurred losses in the year as a result of Government imposed restrictions to its trading arising from the Covid-19 pandemic. Both TDC and the Church made use of the Coronavirus Job Retention Scheme and both have taken on Bounce back loans to assist with the recovery of activities. We achieved a surplus in the year on unrestricted funds of £72,267, compared with a deficit of £36,588 in the previous year.
The development of The Emmanuel Centre continued in the year funded by the Building fund and by an increased bank loan. We benefitted from a six months capital repayment holiday on our bank loan. The problem with the heating system has delayed this asset being put into use.
Our strong voluntary income and financial position, together with UK Government support, has enabled us to withstand the financial effects of the Covid-19 pandemic and altered ways of working. The directors would again like to thank everyone concerned with bringing this about
## **Investment policy**
As the guaranteed unrestricted funds are minimal, there is little opportunity for investment. The directors have considered the most appropriate policy for investing cash resources and have decided that bank deposits meet their requirements of a reasonable rate of return, without significant capital risk, and with predictable accessibility to the funds. This policy is reviewed regularly.
## **Reserves policy**
It remains the directors’ policy to maintain free reserves of between six to twelve months fixed committed expenditure. Free reserves at 31 March 2021 were £361,016 (2020: £346,909). The directors are satisfied that this provides a reasonable level of reserves to hold for our ongoing activities and commitments, including trading activities at The Durham Centre.
## **Plans for future periods**
TDC business is beginning to see the first shoots of growth as it is able to trade again. As confidence returns to business, we feel we are in an ideal position to serve them. With the potential movement away from office to home-based work we see a real opportunity in being able to provide a context to bring people together again.
The student community have shown great resilience during this period, with many unable to be in Durham relying on online access. Many have not had the exposure to the life of the Church that we would want to provide. We are looking at ways of strengthening the community next year as well as see it grow.
Page 4
## **EMMANUEL CHURCH DURHAM**
(a Company limited by guarantee without Share Capital)
## **REPORT OF THE DIRECTORS**
_(continued)_
.
## **Plans for future periods** _**(continued)**_
We are hoping to launch a new area of ministry next year which we believe will be attractive to students as well as others. “Emmanuel Global Reach” will formalise our international mission opportunities with the establishment of “Emmanuel School for International Ministry”. With the tagline of _School - Send - Support_ , our vision is to be able to create a pipeline of training from Durham to the mission fields of the world.
Movement into TEC is important for our growth potential and raising funds to be able to develop the second phase which will give a foyer, toilets, kitchen and meeting rooms will be ongoing.
Post-COVID we are looking to build freshly with the community and re-lay foundations as well as revisit core values of the Church envisioning people for the new future that is ahead.
## **Statement of the directors' responsibilities in relation to the financial statements**
The directors are responsible for preparing the Directors' 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 directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure of the charitable company for that period. In preparing these financial statements, the directors are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The directors are responsible for keeping accounting records which 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.
This report has been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
## **Approved by the directors on 30 January 2022 and signed on their behalf by:**
**G A Bell Chair**
Page 5
## **EMMANUEL CHURCH DURHAM**
(a Company limited by guarantee without Share Capital)
## **INDEPENDENT EXAMINER’S REPORT TO THE DIRECTORS ON THE UNAUDITED**
## **FINANCIAL STATEMENTS OF EMMANUEL CHURCH DURHAM**
I report to the charity trustees on my examination of the accounts of the charitable company for the year ended 31 March 2021, which are set out on pages 7 to 18.
## _**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 report**_
I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales.
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 accounting 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.
**John Oswald BA FCA Stephenson Coates Audit Limited Chartered Accountants West 2, Asama Court Newcastle Business Park Newcastle upon Tyne NE4 7YD**
**30 January 2022**
Page 6
## **EMMANUEL CHURCH DURHAM**
(a Company limited by guarantee without Share Capital)
## **STATEMENT OF FINANCIAL ACTIVITIES (including income and expenditure account)**
|**FOR THE YEAR ENDED 31 MARCH 2021**
**Unrestricted Restricted**
**funds**
**funds**
**Note**
**£**
**£**
**INCOME FROM:**
Giving
**2**
342,517
90,278
Charitable activities
Bible weeks, weekends away and events
315
-
Other trading activities
The Durham Centre – covenanted donation
**16**
-
-
Investments
**3**
173
-
Coronavirus job retention scheme grants
27,974
-
_____
______
**Total**
370,979
90,278
______
______
**EXPENDITURE ON:**
**Charitable activities**
**4**
298,712
25,727
______
______
**Total**
298,712
25,727
______
______
**NET INCOME/ (EXPENDITURE)**
**5-7**
72,267
64,551
Gross transfers between funds
211,879
(211,879)
**NET MOVEMENT IN FUNDS**
284,146
(147,328)
Total funds brought forward
1,552,318
150,739
______
______
**Total funds carried forward**
**14/15**
1,836,464
3,411
______
______|**Total**
**2021**
**£**
432,795
315
-
173
27,974
______
461,257
______
324,439
______
324,439
______
136,818
-
136,818
1,703,057
________
1,839,875
________|**Total**
**2020**
**£**
572,691
4,547
18,525
379
-
______
596,142
______
502,950
______
502,950
______
93,192
-
93,192
1,609,865
________
1,703,057
________|
|---|---|---|
The charitable company has no recognised gains or losses other than the results for the period as set out above. All of the activities of the charitable company are classed as continuing.
The notes on pages 11 to 18 form part of these financial statements.
Page 7
(a Company limited by guarantee without Share Capital)
## **EMMANUEL CHURCH DURHAM**
## **BALANCE SHEET**
## **AT 31 MARCH 2021**
|**Note**
**Fixed assets**
Tangible assets
**8**
Investments
**9**
**Current assets**
Debtors
**10**
Cash and bank and in hand
**11**
**Creditors: amounts falling due**
**within one year**
**12**
**Net current assets**
**Total assets less current liabilities**
**Creditors: amounts falling due**
**after one year**
**13**
**Net assets**
**Funds**
Unrestricted
**14/15**
Restricted
**14/15**
**Total funds**|**2021**
**£**
**£**
2,348,187
7
2,348,194
147,048
240,367
387,415
(58,688)
328,727
2,676,921
(837,046)
________
1,839,875
________
1,836,464
3,411
________
1,839,875
________|**2020**
**£**
**£**
1,969,418
7
1,969,425
119,744
395,369
515,113
(26,465)
488,648
2,458,073
(755,016)
________
1,703,057
________
1,552,318
150,739
________
1,703,057
________|
|---|---|---|
The Balance Sheet continues on the following page.
Page 8
## **EMMANUEL CHURCH DURHAM**
(a Company limited by guarantee without Share Capital)
## **BALANCE SHEET (continued)**
## **Directors’ statements required by the Companies Act 2006 for the year ended 31 March 2021**
In approving these financial statements as directors of the company we hereby confirm:
- (a) that for the year stated above the company was entitled to the exemption conferred by section 477 of the Companies Act 2006 ;
- (b) that no notice has been deposited at the registered office of the company pursuant to section 476 of the Companies Act 2006 requesting that an audit be conducted for the year ended 31 March 2021.
- (c) that we acknowledge our responsibilities for:
(1) ensuring that the company keeps adequate accounting records which comply with section 386 of the Companies Act 2006, and
(2) preparing financial statements which give a true and fair view of the state of affairs of the charitable company at the end of the financial year and of its profit or loss for the year then ended in accordance with the requirements of sections 394 and 395, and which otherwise comply with the provisions of the Companies Act relating to financial statements, so far as applicable to the charitable company.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
## **The financial statements were approved and authorised for issue by the directors on 30 January 2022:**
G.A. Bell
J. Booth
I.J. Portwine W. Byng
## **Company registration no. 06101946**
The notes on pages 11 to 18 form part of these financial statements.
Page 9
## **EMMANUEL CHURCH DURHAM**
(a company limited by guarantee without share capital)
## **CASH FLOW STATEMENT YEAR ENDED 31 MARCH 2021**
|**Reconciliation of net income to net**
**cash flows from operating activities**
Net income for year
Investment income
Depreciation
Loss on disposal of fixed assets
Movement in debtors
Movement in creditors
**Net cash inflow from operating activities**
**Cash flows from investing activities**
Purchases of tangible fixed
assets
Investment income
**Net cash flows from investing activities**
**Cash flows from financing activities**
Repayments of bank loan
Additional bank loans received
**Net cash flow from financing activities**
**Net decrease in cash**
**and cash equivalents**
Cash and cash equivalents at start of year
**Cash and cash equivalents at end of year**|**2021**
**£**
**£**
136,818
(173)
66,385
-
(27,304)
5,523
181,249
(445,154)
173
(444,981)
(7,893)
116,623
108,730
**(155,002)**
395,369
**240,367**|**2020**
**£**
**£**
93,192
(379)
67,553
4,556
29,751
(16,665)
178,008
(614,473)
379
(614,094)
(40,359)
418,958
378,599
**(57,487)**
452,856
**395,369**|**2020**
**£**
**£**
93,192
(379)
67,553
4,556
29,751
(16,665)
178,008
(614,473)
379
(614,094)
(40,359)
418,958
378,599
**(57,487)**
452,856
**395,369**|
|---|---|---|---|
||||**(57,487)**|
||||452,856
**395,369**|
The reconciliation of net debt arising in the year is set out in note 17.
Page 10
## **EMMANUEL CHURCH DURHAM**
(a Company limited by guarantee without Share Capital)
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **1. Accounting policies**
## **1.1 Basis of preparation of financial statements**
The financial statements of the charitable company have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Companies Act 2006 and United Kingdom Generally Accepted Accounting Practice applicable to smaller entities. The charitable company is a public benefit entity as defined by FRS102.
The charitable company has taken the option under section 398 of the Companies Act 2006 and the Charities Act 2011 (Group Accounts) Regulations 2015 not to prepare consolidated financial statements.
The financial accounts are prepared in Sterling (£) which is the functional currency of the charitable company.
## **1.2 Going concern**
The directors of the charitable company are satisfied that there are no material uncertainties concerning the charitable company’s ability to continue as a going concern for a period of at least 12 months from the date of approval of the financial statements. Accordingly, the financial statements continue to be prepared on the going concern basis.
## **1.3 Fund accounting**
Unrestricted funds are those available for use at the discretion of the directors in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are those that are to be used in accordance with the specific restrictions imposed by donors or which have been raised by the charity for particular purposes.
Designated funds are earmarked by the directors for particular purposes.
## **1.4 Income**
_Giving_ - Collections are recognised when received by or on behalf of the Church. Planned giving under Gift Aid is recognised only when received. Income tax recoverable on Gift Aid donations is recognised when the income is recognised. Grants and legacies are accounted for as soon as the Church is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the Church is certain. Covenanted donations from The Durham Centre are recognised on an accruals basis.
_Investment income_ – Interest entitlements are accounted for as they accrue.
_Grants -_ Government Grants that compensate the charitable company for expenses incurred are recognised in the statement of financial affairs on a systematic basis in the same period in which the expenses are incurred.
## **1.5 Expenditure**
_Charitable activities_ – The cost of charitable activities represents the cost of undertaking the charity's objectives. All expenditure is accounted for on an accruals basis. Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Value added tax is not recoverable by the charitable company and as such it is included in the relevant costs in the Statement of Financial Activities.
Page 11
## **EMMANUEL CHURCH DURHAM**
(a Company limited by guarantee without Share Capital)
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2021**
_(continued)_
## **1.6 Tangible fixed assets and depreciation**
Tangible fixed assets are initially recorded at cost and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures, fittings and equipment 25% per annum reducing balance Freehold property over 20 years Leasehold property over the term of the lease
## **1.7 Impairment of fixed assets**
Properties, fixtures, fittings and equipment are reviewed for impairment if events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared against its carrying amount. Where the estimated recoverable amount is lower, an impairment loss is recognised immediately in the Statement of Financial Activities.
## **1.8 Debtors and creditors due within one year**
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses from impairment are recognised in expenditure.
## **1.9 Concessionary loans received**
The charity initially recognises and measures concessionary loans at the amount received. The carrying amount is adjusted in subsequent years to reflect repayments and any accrued interest.
## **1.10 Operating leases**
Rentals payable under operating leases are charged to the Statement of Financial Activities on a straightline basis over the term of the lease.
## **1.11 Defined contribution plans**
The charitable company operates a defined contribution pension scheme for its staff. The scheme and its assets are held by independent managers. The pension cost charge in the financial statements represents contributions due from the charity for the year.
## **1.12 Voluntary assistance**
Time is expended on the charity’s activities and governance which is donated free of charge. It is impractical to quantify the value of the time given, and accordingly it is neither recorded as donated income nor as an expense in the financial statements.
Page 12
## **EMMANUEL CHURCH DURHAM**
(a Company limited by guarantee without Share Capital)
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2021**
_(continued_
|**2.**
**Income from giving**
**Unrestricted**
**funds**
**£**
Building fund
-
Tithes
252,050
Offerings and gifts
27,768
Gift aid recoverable
62,699
_______
342,517
_______
**3.**
**Investment income**
**£**
Interest on cash deposits
173
_____
173
_____
**4.**
**Charitable activities**
**£**
Gifts (below)
33,518
Ministry fees and expenses (note 6)
88,641
Activities expenditure
61,710
Office administration
6,659
Insurance
3,270
Rates
679
Utilities
7,223
Bank charges
2,133
Depreciation
66,385
Repairs and maintenance
3,020
Legal and professional
2,649
Independent examiner’s fees
2,358
Loan interest
20,467
Building project costs
-
______
298,712
______
**Gifts comprise:**
India giving
Regions Beyond UK (note 6)
Ministry
Redeemer Church, Chester le Street
Needy
Other|**Restricted**
**funds**
**£**
80,878
-
900
8,500
_______
90,278
_______
**£**
-
_____
-
_____
**£**
-
-
1,636
-
-
-
-
-
-
-
-
-
-
24,091
______
25,727
______|**Total**
**2021**
**£**
80,878
252,050
28,668
71,199
_______
432,795
_______
**£**
173
_____
173
_____
**£**
33,518
88,641
63,346
6,659
3,270
679
7,223
2,133
66,385
3,020
2,649
2,358
20,467
24,091
______
324,439
______
**2021**
**£**
-
13,000
7,100
-
13,190
228
_____
33,518
_____|**Total**
**2020**
**£**
139,488
295,264
59,017
78,922
_______
572,691
_______
**£**
379
_______
379
_____
**£**
67,594
137,841
132,590
15,035
2,695
2,627
6,807
1,857
67,553
12,046
3,792
2,358
24,800
25,355
______
502,950
______
**2020**
**£**
3,050
18,300
22,850
19,356
2,210
1,828
_____
67,594
_____|
|---|---|---|---|
|||||
Page 13
## **EMMANUEL CHURCH DURHAM**
(a Company limited by guarantee without Share Capital)
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2021**
_(continued)_
## **5. Staff costs**
|Staff costs were as follows:
Salaries and wages
Social security costs
Pension costs|**Total**
**Total**
**2021**
**2020**
**£**
**£**
95,244
120,403
2,799
4,561
1,230
2,195
99,273
127,159
_____
_____|
|---|---|
No employee received emoluments above £60,000 p.a. in the year. The average number of staff employed by the charity during the year was 7 (2020: 8).
## **6. Directors’ remuneration, related party transactions and key management personnel**
Two of the directors are engaged in Ministry and in accordance with the charitable company's constitution, Ministry fees and salaries were paid to them during the year.
Ministry fees, salaries and expenses for the year were:
|nistry fees, salaries and expenses for the year|were:||
|---|---|---|
||**G A Bell**|**I J Portwine**|
||**£**|**£**|
|Ministry fees|37,484|-|
|Ministry salaries|-|40,060|
|Wife's support|3,830|4,980|
|Expenses|1,326|959|
||_____|_____|
I J Portwine is also a director of Regions Beyond UK (note 4).
Key management personnel are considered to comprise the directors and elders.
## **7. Net income for the year**
Net income is stated after charging:
|Net income is stated after charging:|||
|---|---|---|
||**Total**|**Total**|
||**2021**|**2020**|
||**£**|**£**|
|Depreciation|66,385|67,553|
|Independent examiner’s fees|2,358
____|2,358
____|
Page 14
## **EMMANUEL CHURCH DURHAM**
(a Company limited by guarantee without Share Capital)
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2021**
_(continued)_
## **8. Tangible fixed assets**
|**Cost**
At 1 April 2020
Additions
Disposals
At 31 March 2021
**Depreciation**
At 1 April 2020
Charge for the year
Elimination on disposal
At 31 March 2021
**Net book amount**
At 31 March 2021
At 31 March 2020|**Freehold**
**property**
2,275,123
418,888
-
2,694,011
________
572,254
57,851
-
630,105
________
2,063,906
________
1,702,869
________|**Leasehold**
**property**
**£**
249,014
-
-
249,014
________
5,534
2,767
-
8,301
________
240,713
________
243,480
________|**Fixtures**
**& fittings**
**£**
143,877
26,266
-
170,143
______
120,808
5,767
-
126,575
______
43,568
______
23,069
______|**Total**
**£**
2,668,014
445,154
-
3,113,168
________
698,596
66,385
-
764,981
________
2,348,187
________
1,969,418
________|
|---|---|---|---|---|
All assets are held to further the main objects of the charity.
## **9. Investments**
The charitable company owns all of the seven issued shares of The Durham Centre Limited, a company registered in England; the company provides a range of flexible, modern, well-resourced meeting solutions. Further details of the subsidiary undertaking’s results for the year are outlined in note 16.
## **10. Debtors**
|Accounts receivable
Gift aid recoverable
Other debtors
Prepayments and accrued income
Amount owed by subsidiary undertaking|**2021**
**£**
-
66,022
30,480
1,611
48,935
147,048
______|**2020**
**£**
-
76,414
8,747
3,400
31,183
119,744
______|
|---|---|---|
The amount owed by the subsidiary undertaking is not due within one year.
Page 15
(a Company limited by guarantee without Share Capital)
## **EMMANUEL CHURCH DURHAM**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2021**
_(continued)_
## **11. Cash at bank and in hand**
|Bank deposit accounts
Bank current accounts
Cash in hand
**12.**
**Creditors: amounts falling due within one year**
Bank loans (secured)
Trade creditors
Other taxes and social security costs
Accruals and deferred income
Other creditors
**13.**
**Creditors: amounts falling due after**
**more than one year**
Bank loans (secured)
Other creditors||
|---|---|
The main bank loan is fully secured on the freehold and leasehold properties. It is repayable by instalments expiring in 2041. The amount due at 31 March 2021 is analysed as follows:
**£** Within one year 30,750 between one and two years 31,800 between three and five years 101,750 after more than five years 658,446 ______
In the year, the charitable company took out a Government backed bounce back loan of £50,000 which is repayable over 10 years.
Page 16
## **EMMANUEL CHURCH DURHAM**
(a Company limited by guarantee without Share Capital)
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2021**
_(continued)_
**14. Fund movements**
|**Unrestricted**
General
**Restricted**
Building fund
Children’s work
Beyond Ourselves
**Unrestricted**
General
**Restricted**
Building fund
Children’s work
Beyond Ourselves||**Balance**
**at 1**
**April 2020**
**£**
1,552,318
146,592
-
4,147
1,703,057
________
**Balance**
**at 1**
**April 2019**
**£**
1,396,906
212,959
-
-
1,609,865
________|**Incoming**
**Outgoing**
**Transfers**
**Balance**
**resources**
**resources**
**at 31**
**March 2021**
**£**
**£**
**£**
**£**
370,979
(298,712)
211,879
1,836,464
89,378
(24,091)
(211,879)
-
180
(180)
-
-
720
(1,456)
-
3,411
461,257
(324,439)
-
1,839,875
_______
______
______
________
**Incoming**
**Outgoing**
**Transfers**
**Balance**
**resources**
**resources**
**at 31**
**March 2020**
**£**
**£**
**£**
**£**
437,781
(474,369)
192,000
1,552,318
150,988
(25,355)
(192,000)
146,592
549
(549)
-
-
6,824
(2,677)
4,147
596,142
(502,950)
-
1,703,057
_______
______
______
________|
|---|---|---|---|
|||||
The General reserve represents the free funds of the charity which are not designated for particular purposes.
The Building fund has been created in connection with development of the Durham site.
The Children’s work fund is restricted to work with children in the Church and the local community.
Beyond Ourselves is a fund which is restricted for use in home and overseas missionary and relief work. This includes relief to individuals with debt management issues.
Page 17
## **EMMANUEL CHURCH DURHAM**
(a Company limited by guarantee without Share Capital)
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2021**
_(continued)_
|**15.**
**Analysis of net assets**
**Unrestricted funds**
General
**Restricted funds**
Building fund
Beyond Ourselves|**Fixed**
**assets**
**£**
2,348,194
-
-
2,348,194
________|**Net**
**Creditors**
**current**
**due over**
**assets**
**one year**
**£**
**£**
325,316
(837,046)
-
-
3,411
-
328,727
(837,046)
______
______|**Total**
**2021**
**£**
1,836,464
-
3,411|
|---|---|---|---|
||||
1,839,875
________|
## **16. Subsidiary undertaking**
The Durham Centre Limited traded during the year providing a range of flexible, modern, well-resourced meeting solutions. Trading was however severely restricted as a result of the Covid-19 pandemic. A net loss of £28,571 arose in the year. The charitable company has undertaken to continue to support the subsidiary undertaking to enable it to recommence trading following the easing of Government imposed restrictions.
## **17. Reconciliation of net debt**
|Cash and cash equivalents
Bank loans due within one year
Bank loans due over one year
**Net debt**|**31 March**
**Cash**
**Non cash**
**2020**
**flows**
**movements**
£
£
£
395,369
-155,002
0
-9,000
7,893
-34,593
-755,016
-116,623
34,593
-368,647
-263,732
0|**31 March**
**2021**
£
240,367
-35,700
-837,046|
|---|---|---|
|||-632,379|
Page 18