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2023-03-31-accounts

Page
Reference and Administrative
Details
Report ofthe Trustees 2 to 7
Report ofthe Independent
Auditors		 8 to 11
Statement ofFinancial Activities 12
Balance Sheet 13
Cash Flow Statement 14
Notes to the Cash Flow Statement 15
Notes to the Financial Statements 16 to 26
Detailed Statement of Financial Activities 27 tc 28

TRUSTEES Rev A L Hewltt
Rev D H Curgenven
Rev S RCurgenven
LAllen
M RAllport
D M Allport
COMPANY SECRETARY Mrs A Morgan
REGISTERED OFFICE Dolfor Road
Newtown
Powys
SY161JD
REGISTERED COMPANY 06287732 (England and Wales)
NUMBER
REGISTERED CHARITY 1120696
NUMBER
AUDITORS Morgan
Grifliths		 LLP
Chartered
Accountants
Statutory
Auditor
Cross Chambers
9 High Street
Newtown
Powys
SY162NY
BANKERS Barclays Bank pic
3Cross Buildings
Newtown
POWYS
SY162AJ

31.3.23 31.3.22
Unrestricted Restricted Total Total
funds funds funds funds
Notes F 8 F
INCOME AND ENDOWMENTS FROM
Donations
and legacies		 2 532,523 532,523 510,059
Charitable
activities
Ministry 13,972 13,972 4,340
Olher trading
activities		 3 16,512 16,512 6,187
Investment
Income		 4 192 192 156
Total 563,199 563,199 520,742
EXPENDITURE ON
Raising funds 6 13,418 13,418 1,898
Charitable
activities
Ministry 569,222 569,222 522,740
Total 582,640 582,640 524,638
NET INCOME/(EXPENDITURE) (19,441) (19,441) (3,896)
Transfers between funds 22 15,574 (15,574)
Net movement
In funds		 (3,867) (15,574) (19,441) (3,896)
RECONCILIATION OF FUNDS
Total funds brought forward 4,975,955 15,574 4,991,529 4,995,425
TOTAL FUNDS CARRIED FORWARD 4,972,088 4,972,088 4,991,529
31.3.23 31.3.22
Notes
FIXEDASSETS
Tangible assets 14 5,999,183 8,054,894
Investments 15 1 1
5,999,184 6,054,895
CURRENT ASSETS
Debtors 16 72,879 40,859
Cash at bank 315,033 348,374
387,912 389,233
CREDITORS
Amounts
falling due within one year		 17 (84,142) (55,494)
NET CURRENT ASSETS 323,770 333,739
TOTAL ASSETSLESSCURRENT
LIABIUTIES 6,322,954 6,388,634
CREDITORS
Amounts
falling due after more than one year		 18 (1,350,866) (1,397,105)
NET ASSETS 4,972,088 4,991,529
FUNDS 22
Unrestricted
funds		 4,972,088 4,975,955
Restricted funds 15,574
TOTAL FUNDS 4,972,088 4,991,529
Notes 31.3.23
F		 31.3.22
f
Cash flows from operating activities
Cash generated
from operations		 1 208,728 177,828
Interest paid (71,343) (43,973)
Net cash provided by operating
activities		 137,385 133,855
Cash flows from Investing activities
Purchase oftangible
Rxed assets		 (99,384) (7,906)
Interest received 192 156
Net cash used
in		 investing activities (99,192) (7,750)
Cash flows from financing activities
Loan repayments
Loan to subsidiary		 in year (43,464)
(28,070)		 (51,465)
59,663
Net cash (used in)/provided by financing acfivlties (71,534) 8,198
Change
in cash		 and cash equivalents
In the reporting period (33,341) 134,303
Cash and cash equivalents
at the
beginning
ofthe		 reporting period 348,374 214,071
Cash and cash equivalents
at the end
ofthe reporting period 315,033 348,374

RECONCILIATION RECONCILIATION OF OF NET EXPENDITURE TO NET CASH FLOW FROM NET EXPENDITURE TO NET CASH FLOW FROM NET EXPENDITURE TO NET CASH FLOW FROM NET EXPENDITURE TO NET CASH FLOW FROM OPERATING
ACTIVITIES
31.3.23 31.3.22
Net expenditure
for		 the reporting period (as per the Statement
ofFinancial
Adjustments		 Activities)
for:		 (19,441) (3,896)
Depreciation charges 155,096 159,336
Interest received (192) (156)
Interest paid 71,343 43,973
Increase
in debtors		 (995) (217)
Increase/(decrease) in creditors 2,917 (21,212)
Net cash provided by operations 208,728 177,828
ANALYSIS OF CHANGES IN NET DEBT
At 1.4.22
2		 Cash flow
E		 At 31.3.23
f
Net cash
Cash at bank 348,374 (33,341) 315,033
348,374 (33,341) 315,033
Debt
Debts falling due within 1 year (48,917) (2,775) (51,692)
Debts falling dus aRsr 1 year (1,397,105) 46,239 (1,350,866)
(1,446,022) 43,464 (1,402,558)
Total (1,097,648) 10,123 (1,087,525)

DONATIONS
AND		 LEG ACIES
31.3.23
f		 31.3.22
Tithes offerings and gltts 444,127 388,774
Mission income 3,678 21,227
Gift aid 72,029 66,193
Building fund 5,805 7,078
Grants 6,884 26,787
532,523 510,059
Grants received, induded In the above, are as follows:
31.3.23
f		 31.3.22
Chlldcare
Sustalnability		 Grant 3,300
Activate 1,954
HMRC Coronavirus Job Retention Scheme 23,487
Other grants 4,930
6,884 26,787
OTHER TRADING ACTIVITIES
31.3.23 31.3.22
f
Coffee shop income 6,132 2,600
Room hire 10,380 3,587
16,512 6,187

INVESTMENT INCOME
31.3.23
f		 31.3.22
f
Deposit account interest 192 156
INCOME FROM CHARITABLE ACTIVITIES
Activity 31.3.23
f		 31.3.22
f
Departmental
income		 Ministry 11,616 2,918
Life Group income
Other income		 Ministry
Ministry		 753
AOG - salary contrfbutlon
and chaplaincy
service
receipts		 Ministry 1,710
13,972 4,340
RAISING FUNDS
Raising donations
and		 legacies 31.3.23 31.3.22
f
Sundries 1,553
Other trading
activities		 31.3.23
f		 31.3.22
f
Purchases 3,798
Investment
management		 costs 31.3.23 31.3.22
f
Property
repairs		 9,620 345
Aggregate
amounts		 13,418 1,898

Direct Support
Costs (see costs (see
note 8) note 9) Totals
E E F
Ministry 558,647 10,575 569,222
DIRECT COSTS OF CHARITABLE ACTIVITIES
31.3.23 31.3.22
f
Trustees' remuneration etc 101,461 102,588
Stalf costs 94,739 90,084
Repairs &cleaning &water 29,253 25,157
Insurance 8,958 8,420
Light and heat 25,103 17,721
Telephone 6,206 5,356
Postage and stationery 3,508 3,131
Advertising 36 400
Sundries 3,922 230
Gifts, flowers and hospitality 9,115 8,505
Books and literature 857 2,086
Travel 6,584 688
Missions 3,500 3,850
Ministry Gifts and outreach 13,681 29,718
Department
accounts		 14,541 4,421
Life group accounts 500
Training and conferences 10,246 5,187
Depreciation 155,096 159,336
Interest payable and similar charges 71,343 43,973
510,829
SUPPOR'T COSTS
Governance
costs
E
Ministry 10,575
NET INCOME/(EXPENDITURE)
Net Income/(expenditure) is stated after charging/(credIBng):
31.3.23 31.3.22
E
Auditors' remuneration 3,000 3,000
Auditors' remuneration for non audit work 743 655
Depreciation - owned assets 155,095 159,336

TRUSTEES' REMUNERATION TRUSTEES' REMUNERATION AND BENEFITS
31.3.23 31.3.22
Trustees' salaries 88,680 90,175
Trustees' social security 8,910 8,783
Trustees' pension contributions to money purchase schemes 3,871 3,630
101,461 102,588

STAFF COSTS
31.3.23
f		 31.3.22
Wages and salaries 177,292 171,412
Social security costs 10,882 10,669
Other pension costs 8,226 10,571
196,200 192,652
The average
monthly		 number ofemployees during the year was as follows:
31.3.23 31.3.22
Trustees 3 3
Ministry 5 5

31.3.23 31.3.22
E
Charitable
activities
Brought forward 191,845 185,711
Pensions 4,355 B,941
Repairs &deaning 8 water 29,253 25,157
Insurance 8,956 8,420
Light and heat 25,103 17,721
Telephone 6,206 5,356
Postage and stationery 3,508 3,131
Advertising 3B 400
Sundries 3,922 230
Gifts, fhwers and hospitality 9,115 8,505
Books and literature 857 2,086
Travel 6,584 686
Missions 3,500 3,850
Ministry
Gifts and outreach		 13,681 29,718
Department
accounts		 14,541 4,421
Life group accounts 500
Training
and conferences		 10,246 5,187
Freehold
property		 122,023 120,428
Fixtures and fittings 33,073 38,908
Bank loan Interest 70,295 43,023
Bank and credit card charges 1,048 950
558,647 510,829
Support costs
Governance costs
Auditors'
remuneration		 3,000 3,000
Auditors'
remuneration		 for non audit work 743 655
Legal fees 6,832 8,256
10,575 11,911
Totalresources
expended		 582,640 524,638
Net expenditure (19,441) (3,896)

31.3.23 31.3.22
f f
INCOME AND ENDOWMENTS
Donations
and legacies
Tithes offerings and gifts 444,127 388,774
Mission income 3,678 21,227
Gift aid 72,029 66,193
Building
fund		 5,805 7,078
Grants 6,884 26,787
532,523 510,059
Other trading activities
Coffee shop income B,132 2,600
Room hire 10,380 3,587
1B,512 B,187
Investment
Income
Deposit account interest
Charitable
activities
Departmental
income		 11,616 2,918
Life Group income 646
Other Income 753
AOG - salary contribution and chaplaincy
service receipts 1,710 669
13,972 4,340
Total incoming
resources		 563,199 520,742
EXPENDITURE
Rahing donations and legacies
Sundries 1,553
Other trading
activities
Coffee shop purchases 3,798
Investment
management		 costs
Property repairs 9,620
Charitable
activities
Trustees' salaries 88,680 90,175
Trustees'
social security		 8,910 8,783
Trustees'
pension
contributions		 3,871 3,830
Wages 88,B12 81,237
Sodal security 1,772 1,886
Carried forward 191,845 185,711

Compar atlves for moveme nt
In fun		 ds
Net
movement At
At 1.4.21 In funds 31.3.22
E F.
Unrestricted funds
General fund 4,979,851 (3,896) 4,975,955
Restricted funds
Church Planting 13,387 13,387
Activate 2,187 2,187
15,574 15,574
TOTAL FUNDS 4,995,425 (3,896) 4,991,529
Comparative net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources
F		 expended In funds
f
Unrestricted funds
General fund 520,742 (524,638) (3,896)
TOTAL FUNDS 520,742 (524,638) (3,896)

ANALY SIS O F NETASSETS BET WEEN FUNDS
31.3.23 31.3.22
Unrestricted Restricted Total Total
funds
E		 funds
6		 funds
f		 funds
F
Fixed assets 5,999,183 5,999,183 6,054,894
Investments 1 1 1
Current assets 387,912 387,912 389,233
Currant liabilities (64,142) (64,142) (55,494)
Long term liabilities (1,350,866) (1,350,866) (1,397,105)
4,972,088 4,972,088 4,991,529
MOVEMENT IN FUNDS
Net Transfers
movement between At
At 1.422 In funds funds 31.3.23
E 6 E
Unrestricted funds
General fund 4,975,955 (19,441) 15,574 4,972,088
Restricted funds
Church Planting 13,387 (13,387)
Activate 2,187 (2,187)
15,574 (15,574)
TOTAL FUNDS 4,991,529 (19,441) 4,972,088
Net movement in funds, included
in the a		 bove are as follows:
Incoming Resources Movement
resources expended
f		 In funds
Unresbtcted funds
General fund 563,199 (582,640) (19,441)
TOTAL FUNDS 563,199 (582,640) (19,441)

17. CREDITORS: AMOUNTS FALLING DUE WITHIN FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
E
Bank loans and overdraRs (see note 19) 51,B92 48,917
Amounts
owed to group undertakings		 2,956
Social security and other taxes 3,540 3,440
Other creditors 2,955 140
Accrued expenses 2,999 2,997
64,142
18. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
E E
Bank loans (see note 19) 1,350,866 1,397,105
19. LOANS
An analysis ofthe maturity of loans is given below:
31.3.23 31.3.22
E
Amounts
falling due within		 one year on demand:
Bank loans 51,692 48,917
Amounts
falling between		 one and two years:
Bank loans - 1-2years 53,530 51,892
Amounts
falling due between		 two and five years:
Bank loans -2-5 years 172,288 166,371
Amounts
falling due in more than five years:
Repayable
by instalments:
Bank loans more 5yr by instal 1,125,048 1,179,042
The loan is repayable
over 25years and the rate ofinterest is2.75%above base rate.
20. SECURED DEBTS
The following secured debts are Included
within creditors:
31.3.23 31.3.22
Bankloans 1,402,558 1,446,022
CAF Bank Limited
hold a legal charge registered		 on the 14th October 2014 over the Freehold Property
ofthe Charity.

Class ofshare Class ofshare Class ofshare holding
Ordinary 100
31.3.23 31.3.22
E E
Aggregate capital and reserves 1 1
'The trading position for the subsidiary isas follows:
31.3.23 31.3.22
E
Turnover 433,455 383,015
Other income 42,980 31,953
Expenditure 386,769 365,373
Donations 89,666 49,595
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
E F
Trade debtors 1,060
Amounts owed by group undertakings 63,437 35,366
Amounts owed by participating interests 2,955
Prepayments and accrued income 5,427 5,493
72,879 40,859

Unrestricted Restricted Total
funds
f		 funds
F		 funds
F
INCOME AND ENDOWMENTS FROM
Donations
and legacies		 510,059 510,059
Charitable
activities
Ministry 4,340 4,340
Other trading activities 6,187 6,187
Investment
income		 156 156
Total 520,742 520,742
EXPENDITURE ON
Raising funds 1,898 1,898
Charitable
activities
Ministry 522,740 522,740
Total 524,638 524,638
NET INCOME)(EXPENDITURE) (3,898) (3,896)
RECONCILIATION OF FUNDS
Total funds brought forward 4,979,851 15,574 4,995,425
TOTAL FUNDS CARRIED FORWARD 4,975,955 15,574 4,991,529
14. TANGIBLE FIXEDASSETS
Fixtures
Freehold and
property
F		 fittings Totals
f
COST
At 1 April 2022 6,253,307 529,529 6,782,836
Additions 99,384
At 31 March 2023 6,352,691 529,529 B,882,220
DEPRECIATION
At 1 April 2022 418,947 308,995 727,942
Charge for year 122,023 33,072 155,095
At 31 March 2023 540,970 342,087 883,037
NET BOOKVALUE
At 31 March 2023 5,811,721 187,462 5,999,183
At 31 March 2022 5,834,360 220,534 6,054,894