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2021-12-31-accounts

DocuSign Envelope ID: 1AC193C1-DDE1-48DF-A511-9B719858957D

Registered number: 06357407 Charity number: 1122437

THE ARK ISLEHAM (A company limited by guarantee)

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

DocuSign Envelope ID: 1AC193C1-DDE1-48DF-A511-9B719858957D

THE ARK ISLEHAM (A company limited by guarantee) CONTENTS FOR THE YEAR ENDED 31 DECEMBER 2021

Page
Trustees' report 1
Reference and administrative details of the charity, its 4
trustees and advisers
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Statement of Cash Flows 8
Notes to the financial statements 9-16

DocuSign Envelope ID: 1AC193C1-DDE1-48DF-A511-9B719858957D

THE ARK ISLEHAM (A company limited by guarantee) TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

The Trustees who are also directors of the church for the purposes of the Companies Act 2006, present their report with the financial statements of the Church for the year ended 31 December 2021. The Trustees have adopted the provisions of Accounting and Reporting by Charities: 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) (October 2019).

The Trustees have had due regard for the guidance published by the Charities Commission on public benefit.

REFERENCE AND ADMINISTRATIVE DETAILS

The Trustees who served during the year were:

Mr. Michael Hawes Mr. Terry Malkin Mr. John Wick Mr. Frank Young Ms. Wendy Evans Mr. Graham Strand

These were also the trustees and directors on the date the report and accounts were approved.

The above named were also the subscribers and members of the company. Each of them guarantees to contribute a sum not exceeding £10 towards any shortfall in the event of a winding up.

The Church Council is responsible for the day-to-day management of the Trust. The names of the members of the Council are shown on the charity information page which forms part of these accounts.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The governing document of the Church comprises the Company's Memorandum and Articles of Association.

Trustees are recruited from within the membership of the congregation of The Ark Isleham. As part of their induction and training, all trustees are given a copy of "The Essential Trustee" published by the Charity Commission, and any other publications deemed relevant.

The trustees meet on a regular basis, and currently all decisions of a material nature are made by the Board.

The Church has a wholly owned trading subsidiary, High Oak Construction Limited, company number 06604863, which was incorporated on 28 May 2008. This company is the legal entity being used to undertake the design and construction of a new church building for the use of The Ark, Isleham.

The Church has a leadership team of Elders, responsible for all spiritual decisions. The Church Council, made up of seven people, is appointed by the Elders, with Trustee approval. The Church Council meets fortnightly. The Trustees meet regularly.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The Charities Act 2011 requires that the Trustees ensure that the Church keeps accounting records of all transactions so as to disclose at any time, with reasonable accuracy, the financial position of the Church at that time and to enable them to ensure that the financial statements comply with the disclosure regulations. The Trustees are also responsible for safeguarding the Church’s assets and hence for taking reasonable steps for the prevention and detection of error, fraud and other irregularities.

1

DocuSign Envelope ID: 1AC193C1-DDE1-48DF-A511-9B719858957D

THE ARK ISLEHAM (A company limited by guarantee) TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

In preparing the financial statements the Trustees are expected to:

RISK MANAGEMENT

The Trustees have examined the major strategic, business and operational risks to which the Church is exposed and systems have been established to manage those risks.

An annual budget is drawn up, based on the giving of the previous year. A system is in place, whereby a financial report is issued each quarter from the computerised accounts to each trustee so that any necessary corrective steps can be taken.

OBJECTIVES AND ACTIVITIES

William Norman built the original chapel in Church Street, Isleham and set up a trust to promote the worship of Almighty God in 1824. The objectives remain the same but have been extended to serve the community in various ways, both in Isleham and much further afield.

The Church's objects are as follows:

The Church's current objective is to bring about the construction of a new church complex, which once complete will enable the furtherance of the above objects. To that end it will replace our original building, which had become outdated, unsuitable and too small. All members of the public are welcome to attend the church and avail themselves of the various facilities and ministries. As well as enabling more people to attend the worship services, there will be enhanced children's and youth facilities, and a better equipped kitchen and dining area. These facilities will benefit organisations such as the mothers' and toddlers' group, and older peoples' lunch club, which serve the people of Isleham and the surrounding area.

All in all, this will enable people in our area to live out their faith as part of our community through:

The Church policy is to give a significant proportion of the income to Mission or outreach of various types e.g. Youth for Christ, and Regenerate. Further sums are given as gifts to needy people.

In setting our objectives and planning our activities our Trustees have given careful consideration to the Charity Commission’s general guidance on public benefit.

2

DocuSign Envelope ID: 1AC193C1-DDE1-48DF-A511-9B719858957D

THE ARK ISLEHAM (A company limited by guarantee) TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

ACHIEVEMENT AND PERFORMANCE

The church has a membership of about 240, plus approximately 80 under 16s. In addition to the service each Sunday, there are many midweek activities, catering for all ages and a wide range of interests. All this has helped people develop their faith in Jesus. In addition, a number of programs provided practical help and support to the local community. During 2021 there were prolonged periods when COVID precautions meant that we could not hold live services, and were unable to hold any young peoples’ or mid-week meetings. At other times we were only able to hold services for restricted numbers. We used this time to develop live streaming of video, which has proved a popular way for people to view our services, including many who had never attended. We intend to continue live streaming as a way of making our services more accessible to all.

Work on our new building, The Ark, progresses towards completion. In the year ended 31 December 2021 we continued receiving donations towards the funding of the project. As described above, the effect of the COVID precautions meant that the use for Sunday services was limited and so did not significantly impede the continuing building operations or lead to too much inconvenience for worshippers. During the year we continued to work on the unfinished areas, notably the Atrium (entrance vestibule), kitchen and servery, Refectory (café area), offices, and additional toilet facilities. The building was officially opened in October 2021, with the proviso that the air handling system and additional toilets would be completed in 2022.

FINANCIAL REVIEW

The results show a surplus of £304,941 (2020: £235,730). At the balance sheet date there were free reserves of £145,607 (2020: £149,368) that equate to 10 months of unrestricted expenditure.

It is not the aim of the Church to accumulate funds or make investments.

RESERVES POLICY

It is the policy of the Church whereby the unrestricted funds not committed or invested in tangible fixed assets or held as long term investment generating income or capital growth, that is the free reserves, should equate to between three and six months of the unrestricted expenditure.

PLANNING FOR FUTURE PERIODS

The Trustees intend to manage the Church in the foreseeable future as in previous years.

This report has been prepared having taken advantage of the small companies exemption in the Companies Act 2006.

ON BEHALF OF THE TRUSTEES

Mr. Michael Hawes Trustee

Approved by the Trustees on 30 August 2022

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DocuSign Envelope ID: 1AC193C1-DDE1-48DF-A511-9B719858957D

THE ARK ISLEHAM

(A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021

Trustees

Mr. Michael Hawes Mr. Terry Malkin Mr. John Wick Mr. Frank Young Ms. Wendy Evans Mr. Graham Strand

Church Council Members

Mrs. Geraldine Ciantar (Chair) Mr. Richard Liddington Mr. Richard Holloway Resigned Feb 2022 Mr. John Wick Resigned Feb 2022 Miss. Abigail Dennis Resigned Feb 2022 Mr. Jeremy Liming Appointed Feb 2022 Mr.Graham Strand Appointed Feb 2022 Mrs Hannah Bianco Appointed Feb 2022 Mrs. Marilyn Strand Mr. Steve Ayres Appointed Feb 2022

Company Registered Number

06357407

Charity Registered Number

1122437

Registered and Church Office

101 Beck Road, Isleham, Ely, Cambridgeshire, CB7 5QP

Company secretary

Mr. Michael Hawes

Independent Examiner

Stuart Berriman, Chater Allan LLP, Chartered Accountants, 7 Quy Court,Colliers Lane, Stow-cum-Quy, Cambridge, C25 9AU

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DocuSign Envelope ID: 1AC193C1-DDE1-48DF-A511-9B719858957D

THE ARK ISLEHAM (A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

I report on the financial statements of the Trust for the year ended 31 December 2021 which are set out on pages 6 to 16.

Responsibilities and basis of report

As the charity 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 company’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 statement

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 that in any material respect:

  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 records; or

  2. 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

  3. 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

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.

Stuart Berriman Chater Allan LLP Chartered Accountants 7 Quy Court Colliers Lane Stow-cum-Quy Cambridge CB25 9AU

31 August 2022

Date: ………………………………………

5

DocuSign Envelope ID: 1AC193C1-DDE1-48DF-A511-9B719858957D

THE ARK ISLEHAM (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (incorporating Income and Expenditure Account) FOR THE YEAR ENDED 31 DECEMBER 2021

----- Start of picture text -----
Unrestricted Restricted Total Total
funds funds funds funds
2021 2021 2021 2020
Note £ £ £ £
Income from:
Donations and legacies 2 291,132 434,763 725,895 432,026
Investments 3 21 7 28 775
Other 4 - - - 192,259
Total income 291,154 434,770 725,924 625,060
Expenditure on:
Charitable activities 5 207,629 213,354 420,983 389,310
Total expenditure 207,629 213,354 420,983 389,310
Net income/(expenditure) before transfers 83,525 221,416 304,941 235,750
Transfers between funds (63,146) 63,146 - -
Net movement in funds 20,379 284,562 304,941 235,750
Reconciliation of movement in funds:
Total funds brought forward 187,242 1,992,229 2,179,471 1,943,721
Total funds carried forward 207,621 2,276,791 2,484,412 2,179,471
----- End of picture text -----

All activities relate to continuing operations.

The notes on pages 9 to 16 form part of these financial statements.

6

DocuSign Envelope ID: 1AC193C1-DDE1-48DF-A511-9B719858957D

THE ARK ISLEHAM (A company limited by guarantee) BALANCE SHEET AS AT 31 DECEMBER 2021

Registered Company number: 06357407 Registered Charity number: 1122437

----- Start of picture text -----
Total Total
2021 2020
Note £ £
Fixed assets
Tangible assets 9 2,846,071 2,619,732
Investments 10 1 1
2,846,072 2,619,733
Current assets
Debtors 11 52,565 94,461
Cash at bank and in hand 356,692 288,707
409,257 383,168
Liabilities
Creditors: amounts falling due within one year 12 64,394 59,227
Net current assets 344,864 323,940
Creditors: amounts falling due after more than one year 13 706,524 764,203
Net assets 2,484,412 2,179,471
Charity funds
Restricted funds 14 2,276,791 1,992,229
Unrestricted funds 14 207,621 187,242
2,484,412 2,179,471
----- End of picture text -----

The charitable company is entitled to exemption from audit under section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for:

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies.

The financial statements were approved by the Board of Trustees on 30 August 2022 and were signed on their behalf by:

Mr. Michael Hawes

Trustee

The notes on pages 9 to 16 form part of these financial statements.

7

DocuSign Envelope ID: 1AC193C1-DDE1-48DF-A511-9B719858957D

THE ARK ISLEHAM (A company limited by guarantee) STATEMENT OF CASH FLOWS AS AT 31 DECEMBER 2021

----- Start of picture text -----
Note 2021 2020
£ £
Cash used in operating activities 1 458,325 80,618
Cash flows from investing activities:
Purchase of tangible assets (390,339) (35,628)
Net cash provided by/(used in) investing activities (390,339) (35,628)
Change in cash and cash equivalents in the reporting 2 67,985 44,990
period
Cash and cash equivalents at the beginning of the
reporting period 288,707 243,717
Cash and cash equivalents at the end of the reporting
period 356,692 288,707
Notes to Cash flow statement
1. Reconciliation of net income for the year to net cash flow from operating activities
2021 2020
£ £
Net movement in funds 304,941 235,750
Adjustments for:
Depreciation charges 164,001 42,834
Decrease/(Increase) in debtors 41,895 25,019
(Decrease)/Increase in creditors 5,167 (167,281)
(Decrease)/Increase in long-term creditors (57,679) (55,704)
Net cash inflow (outflow) from operating activities 458,325 80,618
2. Analysis of cash and cash equivalents
At 1 At 31
January Cash December
2021 flow 2021
£ £ £
Cash at bank and in hand 288,707 67,985 356,692
288,707 67,985 356,692
----- End of picture text -----

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DocuSign Envelope ID: 1AC193C1-DDE1-48DF-A511-9B719858957D

THE ARK ISLEHAM (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1. ACCOUNTING POLICIES

1.1 Basis of preparation of financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: 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) (issued in October 2019)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’, the Companies Act 2006 and in accordance with the Church Accounting Regulations 1998. The financial statements have been prepared under the historical cost convention.

1.2 Company status

The company is a company limited by guarantee. The members of the company are the Trustees named on page 4. In the event of the company being wound up, the liability in respect of the guarantee is limited to £10 per member of the company.

1.3 Fund accounting

The unrestricted general funds are available for use at the discretion of the Church Council in furtherance of its charitable objectives and are not subject to any restrictions regarding their use.

Designated funds are created by the trustees’ for funds to be set aside for a specific purpose.

Restricted funds can only be used for particular restricted purposes within the objectives of the church. Restrictions arise when specified by the donor or when funds are raised for a particular purpose.

Further explanations of the nature and purpose of each fund is included in the notes to the financial statements.

1.4 Income

All voluntary income plus associated tax recovery is recognised as income when the donation is received. Investment income is recognised in the Statement of Financial Activities as it becomes payable. All other income is recognised when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

1.5 Expenditure

Expenditure is recognised in the period in which they are incurred and include attributable VAT which cannot be recovered. These are allocated to the particular activity to which they relate. Gifts and grants are accounted for when they are paid.

As much of the management and activity of the church is carried out by volunteers, the intangible cost is not included in the financial statements as this voluntary contribution to the life of the church is incalculable.

1.6 Taxation

The Church is exempt from corporation tax on its charitable activities.

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DocuSign Envelope ID: 1AC193C1-DDE1-48DF-A511-9B719858957D

THE ARK ISLEHAM (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1. ACCOUNTING POLICIES (Continued)

1.7 Tangible fixed assets

All expenditure incurred during the year on church buildings or moveable church furniture, whether maintenance or improvement, is written off as expenditure in the accounts and clearly disclosed.

Church land and buildings are depreciated on a straight line basis over 25 years.

Equipment purchased is depreciated on a straight line basis over 4 to 5 years and vehicles are depreciated at 25% on a reducing balance basis. Individual items of equipment with a purchase price of £200 or less are written off when the asset is acquired.

1.8 Going concern

The trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The trustees have considered the potential impact on the company of the current global pandemic known as COVID-19. In the opinion of the trustees there will be no material adverse effect on the company's ability to continue to trade. The trustees believe the company is well placed to manage its business risks successfully despite the current uncertain economic outlook. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.

1.9 Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.10 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.

1.11 Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.12 Pensions

The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

1.13 Liabilities and provisions

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 company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

10

DocuSign Envelope ID: 1AC193C1-DDE1-48DF-A511-9B719858957D

THE ARK ISLEHAM (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

----- Start of picture text -----
Unrestricted Restricted Total Total
funds funds funds funds
2021 2021 2021 2020
£ £ £ £
2. INCOME FROM DONATIONS AND LEGACIES
Offerings & donations 41,366 189,989 231,355 119,658
Gift aid donations 159,886 194,059 353,945 247,772
-
Legacies 50,104 2,500 52,604
Tax credits 39,776 48,215 87,991 64,596
291,132 434,763 725,895 432,026
3. INCOME FROM INVESTMENTS
Rent - - - 582
Interest 21 7 28 194
21 7 28 775
4. OTHER INCOME
Sale of land - - - 55,000
Covid grants - - - 259
- - -
Profit on disposal of assets 137,000
- - -
192,259
5. COST OF CHARITABLE ACTIVITIES
Church Buildings:
Professional fees 339 - 339 150
- -
Legal fees 9,430
-
Mortgage interest 31,641 31,641 33,956
-
Depreciation of land and buildings 155,185 155,185 131,070
Staff and Administration:
Salaries 105,119 - 105,119 101,424
-
Staff expenses 1,779 1,779 1,589
Visiting speakers 565 - 565 -
Training 1,191 - 1,191 464
-
Office expenses 2,421 2,421 3,435
Website 1,094 - 1,094 1,544
Youth Groups:
Junior Church 3-11 17 - 17 92
Impact 11-14 302 - 302 252
Youth 15-21 463 - 463 125
Events and Materials:
Term expenses - - - 377
Events/Church holiday 4,555 - 4,555 668
Funerals 10 - 10 74
-
Copyright and licences 1,440 1,440 1,211
CD's - - - 135
Music 838 - 838 177
DVDs/Books - - - 21
Carried forward 120,131 186,826 306,958 286,194
----- End of picture text -----

11

DocuSign Envelope ID: 1AC193C1-DDE1-48DF-A511-9B719858957D

THE ARK ISLEHAM (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

5. COST OF CHARITABLE ACTIVITIES
(Continued)
Brought forward
Other Groups:
Rendezvous over 50s
Luncheon club
Mission:
Newmarket YFC
YWAM Heath
P Claringbold
M & J Heath
S Copsey
Miss Rhezi Liddington
J Robson
Josh Wells
Evangelical Alliance - annual membership
J & C Mabeys
Martin Wells
Daniel Chand
St Mary's Church, Ely
R Bendall
M Spooner
N & D YFC
Newsletters
Gifts:(note 6)
Church Costs:
Support costs (note 7)		 Unrestricted
Restricted
Total
funds
funds
funds
2021
2021
2021
£
£
£
120,131
186,826
306,958
684
-
684
-
-
-
5,100
-
5,100
1,800
-
1,800
5,700
-
5,700
5,915
-
5,915
-
-
-
300
-
300
225
-
225
1,350
-
1,350
227
-
227
500
-
500
52
-
52
250
-
250
720
-
720
77
-
77
-
-
-
-
-
-
-
-
-
12,170
880
13,050
52,428
25,648
78,076
207,629
213,354
420,983		 Total
funds
2020
£
286,194
757
356
5,100
1,800
6,000
5,400
600
-
44
2,700
238
-
-
-
660
-
80
450
774
11,825
66,333
389,310

6. GIFTS

In accordance with the objectives as stated in the Trustees’ Report £13,050 has been given at the discretion of the Elders, Council and Trustees to needy people. The individual amounts and donees are not disclosed for confidentiality reasons in these Financial Statements.

7. SUPPORT AND GOVERNANCE COSTS

Catering and housekeeping
Heat, insurance and rates
Repairs and renewals
Maintenance contracts
New equipment
Minibus running costs
Telephone/internet
Sundries including bank charges
Depreciation
Loss on disposal of asset
Independent examiner costs
Professional fees
Carried forward		 3,510
-
3,510
29,746
25,647
55,393
4,451
-
4,451
780
-
780
980
-
980
334
-
334
601
-
601
233
1
234
8,816
-
8,816
-
-
2,440
-
2,440
-
-
-
51,890
25,648
77,538		 2,506
47,797
525
-
1,011
715
494
207
10,896
206
1,656
-
66,013

12

DocuSign Envelope ID: 1AC193C1-DDE1-48DF-A511-9B719858957D

THE ARK ISLEHAM (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

7. SUPPORT AND GOVERNANCE COSTS
(Continued)
Brought forward
Trustee indemnity insurance
Annual return filing fee		 Unrestricted
Restricted
Total
funds
funds
funds
2021
2021
2021
£
£
£
51,890
25,648
77,538
525
-
525
13
-
13
52,428
25,648
78,076		 Total
funds
2020
£
66,013
307
13
66,333

All governance was carried out by volunteers and no other tangible costs were incurred.

8. STAFF AND TRUSTEES

Gross
Employer's NIC
Pension contributions		 91,039
-
91,039
3,050
-
3,050
11,029
-
11,029
105,119
-
105,119		 91,528
2,817
7,079
101,424

The average number of staff employed by the Church during the financial year was 5 (2020: 5) comprising 1 full-time minister, 1 part-time minister, 1 full-time church worker, 2 part-time secretaries and 2 part-time caretakers. No employee received remuneration amounting to more than £50,000 in either year.

One of the Elders, Mr. Tim Malkin, who is the son of the Trustee Mr. Terry Malkin, has been a full-time employee of the church for many years.

During the year, no Trustee received any remuneration or expenses (2020: £nil) other than stated above.

TANGIBLE FIXED ASSETS
Cost
As at 1 January 2021
Additions
Disposals
As at 31 December 2021
Depreciation
As at 1 January 2021
Charge for the year
Eliminated on disposal
As at 31 December 2021
Net book value
As at 31 December 2021
As at 31 December 2020		 Freehold
land &
buildings
Church
Equipment
Vehicles
£
£
£
3,276,743
70,021
10,362
352,883
37,456
-
-
-
-
3,629,626
107,477
10,362
690,384
36,648
10,362
155,185
8,816
-
-
-
-
845,569
45,464
10,362
2,784,057
62,013
-
2,586,359
33,373
-		 Total
£
3,357,126
390,339
-
3,747,465
737,394
164,001
-
901,395
2,846,071
2,619,732

9. TANGIBLE FIXED ASSETS

13

DocuSign Envelope ID: 1AC193C1-DDE1-48DF-A511-9B719858957D

THE ARK ISLEHAM (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

10. FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTS
Shares in subsidiary		 2021
£
1		 2020
£
1

There were no investment assets outside the UK.

The Company owned 100% of the share capital of High Oak Construction Limited, a construction company registered in England and Wales. At the balance sheet date its aggregate deficit in its capital and reserves was £17,454 (2020: (£24,094)) and its profit for the year was £10,918 (2020: (£3,837 loss).

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Gift aid
Prepayments and other debtors
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Examiner fee
Payroll taxes
Mortgage
Other creditors and accruals
13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Mortgage
Amounts falling due in more than five years and repayable by instalments:
Mortgage		 2021
£
45,156
7,410
52,565
2021
£
2,100
1,701
56,320
4,273
64,394
2021
£
706,524
275,000		 2020
£
12,838
81,623
94,461
2020
£
1,700
1,618
55,330
579
59,227
2020
£
764,203
275,000

14

DocuSign Envelope ID: 1AC193C1-DDE1-48DF-A511-9B719858957D

THE ARK ISLEHAM (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

14. STATEMENT OF FUNDS
Unrestricted Funds
General Fund
Designated Fund
Restricted Funds
Church Construction Fund
Poland Fund
Insurance Fund
Total Funds		 Brought
Transfers
forward
Income
Expenditure
in/(out)
£
£
£
£
182,742
291,154
(207,629)
(58,646)
4,500
-
-
(4,500)
187,242
291,154
(207,629)
(63,146)
1,991,989
413,195
(211,874)
63,146
240
225
(380)
-
21,350
(1,100)
1,992,229
434,770
(213,354)
63,146
2,179,471
725,924
(420,983)
-		 Carried
forward
£
207,621
-
207,621
2,256,457
85
20,250
2,276,791
2,484,412

Restricted Funds

The Church accounts include Restricted Funds, where the monies can only be used for the specific purpose for which they were entrusted to the church. These monies are not at the disposal of the Church Council for any other purpose, and represent:

Church Construction Fund

This was originally monies donated for the purpose of building the new church and also includes the old church building.

Poland Fund

These are funds raised for supporting organisations in Poland.

Insurance Fund

Donations given to help with the dramatic increase in insurance premiums.

Unrestricted Funds

These funds are expendable at the discretion of the Trustees and Church Council in furtherance of the objectives of the Church.

15. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fixed assets - tangible
Fixed assets - investments
Current assets
Creditors due within one year
Creditors due after more than one year
Total		 Unrestricted
Restricted
funds
funds
2021
2021
£
£
62,014
2,784,057
1
-
153,559
255,699
(7,952)
(56,442)
-
(706,524)
207,621
2,276,791		 Total
funds
2021
£
2,846,071
1
409,257
(64,394)
(706,524)
2,484,412

15

DocuSign Envelope ID: 1AC193C1-DDE1-48DF-A511-9B719858957D

THE ARK ISLEHAM (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

16. RELATED PARTY TRANSACTIONS

During the year £525 (2020: £307) was paid by the charity for Trustee indemnity insurance.

During the year £9,190 of donations were received from Trustees.

17. CAPITAL COMMITMENTS

The Church had capital commitments for the freehold building as at 31 December 2021 of £141,000 (2020: £350,000).

18. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES

Income from:
Donations and legacies
Investments
Other
Total income
Expenditure on:
Charitable activities
Total expenditure
Net Income before transfers
Transfers between funds
Net movement in funds
Reconciliation of movement in funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
Restricted
Total
funds
funds
funds
2020
2020
2020
£
£
£
234,557
197,469
432,026
620
155
775
55,259
137,000
192,259
290,436
334,624
625,060
182,872
206,438
389,310
182,872
206,438
389,310
107,564
128,186
235,750
-
-
-
107,564
128,186
235,750
79,678
1,864,043
1,943,721
187,242
1,992,229
2,179,471

16