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|||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|||
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|||||||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)|
##
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##
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|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|