DocuSign Envelope ID: 7BB745DE-5264-4820-8409-C6B7C38D9982
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 2022
DocuSign Envelope ID: 7BB745DE-5264-4820-8409-C6B7C38D9982
THE ARK ISLEHAM (A company limited by guarantee) CONTENTS FOR THE YEAR ENDED 31 DECEMBER 2022
| 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: 7BB745DE-5264-4820-8409-C6B7C38D9982
THE ARK ISLEHAM (A company limited by guarantee) TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022
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 2022. 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
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.
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DocuSign Envelope ID: 7BB745DE-5264-4820-8409-C6B7C38D9982
THE ARK ISLEHAM (A company limited by guarantee) TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022
In preparing the financial statements the Trustees are expected to:
-
a) Select suitable accounting policies and apply them consistently, making judgments and estimates that are reasonable and prudent;
-
b) Follow the recommendations of the Charity Commission and of the accounting profession with regard to the form and content of the financial statements, or to disclose and explain any departures therefrom;
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c) Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the Church will be able to continue to meet its objectives.
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:
-
to advance the Christian faith in accordance with the statement of beliefs appearing in the Schedule to the Memorandum and Articles, and to fulfil such other purposes which are exclusively charitable according to the law of England and Wales and are connected with the charitable work of the Charity; and
-
to relieve sickness and financial hardship and to promote and preserve good health by the provision of funds, goods or services of any kind including through the provision of counselling and support.
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:
-
Worship and prayer, learning about the Gospel, and developing their faith in Jesus;
-
provision of pastoral care ; and
-
missionary and outreach work.
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.
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DocuSign Envelope ID: 7BB745DE-5264-4820-8409-C6B7C38D9982
THE ARK ISLEHAM (A company limited by guarantee) TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022
ACHIEVEMENT AND PERFORMANCE
The church has a membership of about 270, plus approximately 100 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, notably the Community Pantry. We continue to develop the live-streaming of our Sunday services which are now watched regularly by many people around the country.
Work on our new building, The Ark, progresses towards completion. In the year ended 31 December 2022 we continued receiving donations towards the funding of the project. 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 subsequently. The Air-handling turned out to be a very complex project and was finally completed in early 2023.
FINANCIAL REVIEW
The results show a surplus of £227,753 (2021: £304,941). At the balance sheet date there were free reserves of £67,206 (2021: £145,607) that equate to 3 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: 16 August 2023
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DocuSign Envelope ID: 7BB745DE-5264-4820-8409-C6B7C38D9982
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 2022
Trustees
Mr. Michael Hawes Mr. Terry Malkin Resigned 17 January 2023 Mr. John Wick Resigned 17 January 2023 Mr. Frank Young Ms. Wendy Evans Resigned 17 January 2023 Mr. Graham Strand Mrs Hannah Bianco Appointed 17 January 2023 Dr Jonathan Darley Appointed 17 January 2023 Mr Paul Hedger Appointed 17 January 2023 Mrs Kathryn Slingsby Appointed 17 January 2023 Mrs Lorna Wells Appointed 17 January 2023
Church Council Members
Mrs. Geraldine Ciantar (Chair) Mr. Richard Liddington Mr. Jeremy Liming Mr.Graham Strand Mrs Hannah Bianco Mrs. Marilyn Strand Mr. Steve Ayres
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: 7BB745DE-5264-4820-8409-C6B7C38D9982
THE ARK ISLEHAM (A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
I report on the financial statements of the Trust for the year ended 31 December 2022 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:
-
accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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
18 August 2023
Date: ………………………………………
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DocuSign Envelope ID: 7BB745DE-5264-4820-8409-C6B7C38D9982
THE ARK ISLEHAM (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (incorporating Income and Expenditure Account) FOR THE YEAR ENDED 31 DECEMBER 2022
| Note Income from: Donations and legacies 2 Investments 3 Total income Expenditure on: Charitable activities 4 Total expenditure Net income/(expenditure) 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 2022 2022 2022 £ £ £ 285,053 446,766 731,819 170 10 180 285,223 446,776 731,999 313,436 190,809 504,245 313,436 190,809 504,245 (28,213) 255,967 227,753 (49,180) 49,180 - (77,393) 305,147 227,753 207,621 2,276,791 2,484,412 130,228 2,581,938 2,712,165 |
Total funds 2021 £ 725,895 28 |
|---|---|---|
| 725,924 | ||
| 420,983 | ||
| 420,983 | ||
| 304,941 - |
||
| 304,941 2,179,471 |
||
| 2,484,412 |
All activities relate to continuing operations.
The notes on pages 9 to 16 form part of these financial statements.
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DocuSign Envelope ID: 7BB745DE-5264-4820-8409-C6B7C38D9982
THE ARK ISLEHAM (A company limited by guarantee) BALANCE SHEET AS AT 31 DECEMBER 2022
Registered Company number: 06357407 Registered Charity number: 1122437
| Note Fixed assets Tangible assets 8 Investments 9 Current assets Debtors 10 Cash at bank and in hand Liabilities Creditors: amounts falling due within one year 11 Net current assets Creditors: amounts falling due after more than one year 12 Net assets Charity funds Restricted funds 14 Unrestricted funds 14 |
Total 2022 £ 2,926,783 1 2,926,784 25,225 90,885 116,110 57,442 58,668 273,287 2,712,165 2,581,938 130,228 2,712,165 |
Total 2021 £ 2,846,071 1 |
|---|---|---|
| 2,846,072 | ||
| 52,566 356,692 |
||
| 409,258 64,394 |
||
| 344,864 706,524 |
||
| 2,484,412 | ||
| 2,276,791 207,621 |
||
| 2,484,412 |
The charitable company is entitled to exemption from audit under section 477 of the Companies Act 2006 for the year ended 31 December 2022.
The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for:
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a) ensuring that the charitable company keeps accounting records that comply with Section 386 and 387 of the Companies Act 2006; and
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b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus and deficit for each financial year in accordance with the requirements of Section 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to charitable companies.
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 16 August 2023 and were signed on their behalf by:
Mr. Michael Hawes Trustee
The notes on pages 9 to 16 form part of these financial statements.
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DocuSign Envelope ID: 7BB745DE-5264-4820-8409-C6B7C38D9982
THE ARK ISLEHAM (A company limited by guarantee) STATEMENT OF CASH FLOWS AS AT 31 DECEMBER 2022
| Note 2022 2021 £ £ Cash used in operating activities 1 (14,844) 458,325 Cash flows from investing activities: Purchase of tangible assets (250,963) (390,339) Net cash provided by/(used in) investing activities (250,963) (390,339) Change in cash and cash equivalents in the reporting 2 (265,807) 67,985 period Cash and cash equivalents at the beginning of the reporting period 356,692 288,707 Cash and cash equivalents at the end of the reporting period 90,885 356,692 Notes to Cash flow statement 1. Reconciliation of net income for the year to net cash flow from operating activities 2022 2021 £ £ Net movement in funds 227,753 304,941 Adjustments for: Depreciation charges 170,251 164,001 Decrease/(Increase) in debtors 27,341 41,895 (Decrease)/Increase in creditors (6,952) 5,167 (Decrease)/Increase in long-term creditors (433,237) (57,679) Net cash inflow (outflow) from operating activities (14,844) 458,325 2. Analysis of cash and cash equivalents At 1 At 31 January Cash December 2022 flow 2022 £ £ £ Cash at bank and in hand 356,692 (265,807) 90,885 356,692 (265,807) 90,885 |
Note 2022 2021 £ £ Cash used in operating activities 1 (14,844) 458,325 Cash flows from investing activities: Purchase of tangible assets (250,963) (390,339) Net cash provided by/(used in) investing activities (250,963) (390,339) Change in cash and cash equivalents in the reporting 2 (265,807) 67,985 period Cash and cash equivalents at the beginning of the reporting period 356,692 288,707 Cash and cash equivalents at the end of the reporting period 90,885 356,692 Notes to Cash flow statement 1. Reconciliation of net income for the year to net cash flow from operating activities 2022 2021 £ £ Net movement in funds 227,753 304,941 Adjustments for: Depreciation charges 170,251 164,001 Decrease/(Increase) in debtors 27,341 41,895 (Decrease)/Increase in creditors (6,952) 5,167 (Decrease)/Increase in long-term creditors (433,237) (57,679) Net cash inflow (outflow) from operating activities (14,844) 458,325 2. Analysis of cash and cash equivalents At 1 At 31 January Cash December 2022 flow 2022 £ £ £ Cash at bank and in hand 356,692 (265,807) 90,885 356,692 (265,807) 90,885 |
2022 2021 £ £ (14,844) 458,325 (250,963) (390,339) |
|---|---|---|
| (250,963) (390,339) |
||
| (265,807) 67,985 356,692 288,707 |
||
| 90,885 356,692 |
||
| (14,844) 458,325 |
||
| At 31 Cash December flow 2022 £ £ (265,807) 90,885 |
||
| 356,692 | (265,807) 90,885 |
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DocuSign Envelope ID: 7BB745DE-5264-4820-8409-C6B7C38D9982
THE ARK ISLEHAM (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
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: 7BB745DE-5264-4820-8409-C6B7C38D9982
THE ARK ISLEHAM (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
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 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.
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DocuSign Envelope ID: 7BB745DE-5264-4820-8409-C6B7C38D9982
THE ARK ISLEHAM (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
| 2. INCOME FROM DONATIONS AND LEGACIES Offerings & donations Gift aid donations Legacies Tax credits 3. INCOME FROM INVESTMENTS Rent Interest 4. COST OF CHARITABLE ACTIVITIES Church Buildings: Professional fees Mortgage interest Interest on members loans Depreciation of land and buildings Staff and Administration: Salaries Staff expenses Visiting speakers Training Office expenses Website Youth Groups: Junior Church 3-11 Impact 11-14 Youth 15-21 Arise Events and Materials: Term expenses Events/Church holiday Funerals Copyright and licences Music Carried forward |
Unrestricted Restricted Total funds funds funds 2022 2022 2022 £ £ £ 49,080 280,328 329,408 185,140 131,745 316,885 - - - 50,833 34,693 85,526 285,053 446,766 731,819 100 - 100 70 10 80 170 10 180 200 - 200 - 7,563 7,563 - 6,486 6,486 - 154,555 154,555 154,876 - 154,876 296 - 296 600 - 600 1,528 - 1,528 4,035 - 4,035 1,005 - 1,005 315 - 315 99 - 99 317 - 317 2,440 - 2,440 545 - 545 - - - 120 - 120 1,536 - 1,536 151 - 151 168,064 168,604 336,668 |
Total funds 2021 £ 231,355 353,945 52,604 87,991 |
|---|---|---|
| 725,895 | ||
| - 28 |
||
| 28 | ||
| 339 31,641 - 155,185 105,119 1,779 565 1,191 2,421 1,094 17 302 463 - - 4,555 10 1,440 838 |
||
| 306,958 |
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DocuSign Envelope ID: 7BB745DE-5264-4820-8409-C6B7C38D9982
THE ARK ISLEHAM (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
| 4. COST OF CHARITABLE ACTIVITIES (Continued) Brought forward Other Groups: Rendezvous over 50s Community pantry Creche Mission: Newmarket YFC YWAM Heath P Claringbold M & J Heath 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 L Samalionas T4Free Newsletters Gifts:(note 5) Church Costs: Support costs (note 6) |
Unrestricted Restricted Total funds funds funds 2022 2022 2022 £ £ £ 168,064 168,604 336,668 515 - 515 - 1,748 1,748 377 - 377 5,100 - 5,100 1,800 - 1,800 5,700 - 5,700 5,400 - 5,400 600 - 600 3,200 - 3,200 - - - 251 - 251 - - - - - - - - - 720 - 720 97 - 97 1,500 - 1,500 97 97 348 - 348 15,108 207 15,315 104,560 20,250 124,810 313,436 190,809 504,245 |
Total funds 2021 £ 306,958 684 - - 5,100 1,800 5,700 5,915 300 225 1,350 227 500 52 250 720 77 - - - 13,050 78,076 |
|---|---|---|
| 420,983 |
5. GIFTS
In accordance with the objectives as stated in the Trustees’ Report £15,315 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.
6. SUPPORT AND GOVERNANCE COSTS
| Catering and housekeeping Cleaning and building welfare Heat, insurance and rates Repairs and renewals Maintenance contracts New equipment Minibus running costs Telephone/internet Sundries including bank charges Training Depreciation Loss on disposal of assets Independent examiner costs Legal and professional fees Carried forward |
4,603 - 4,603 3,632 - 3,632 60,845 20,250 81,095 6,646 - 6,646 1,967 - 1,967 152 - 152 176 - 176 651 - 651 297 - 297 534 - 534 15,696 - 15,696 - - - 2,300 - 2,300 6,514 - 6,514 104,012 20,250 124,262 |
3,510 - 55,393 4,451 780 980 334 601 234 - 8,816 - 2,440 - |
|---|---|---|
| 77,538 |
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DocuSign Envelope ID: 7BB745DE-5264-4820-8409-C6B7C38D9982
THE ARK ISLEHAM (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
| 6. SUPPORT AND GOVERNANCE COSTS (Continued) Brought forward Trustee indemnity insurance Annual return filing fee |
Unrestricted Restricted Total funds funds funds 2022 2022 2022 £ £ £ 104,012 20,250 124,262 535 - 535 13 - 13 104,560 20,250 124,810 |
Total funds 2021 £ 77,538 525 13 |
|---|---|---|
| 78,076 |
All governance was carried out by volunteers and no other tangible costs were incurred.
8. STAFF AND TRUSTEES
| Gross Employer's NIC Pension contributions |
136,947 - 136,947 7,739 - 7,739 10,189 - 10,189 154,876 - 154,876 |
91,039 3,050 11,029 |
|---|---|---|
| 105,119 |
The average number of staff employed by the Church during the financial year was 6 (2021: 5) comprising 1 fulltime 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 £60,000 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 (2021: £nil) other than stated above.
| 8. TANGIBLE FIXED ASSETS Cost As at 1 January 2022 Additions Disposals As at 31 December 2022 Depreciation As at 1 January 2022 Charge for the year Eliminated on disposal As at 31 December 2022 Net book value As at 31 December 2022 As at 31 December 2021 |
Freehold land & buildings Church Equipment Vehicles £ £ £ 3,629,626 107,477 10,362 234,260 16,703 - - - - 3,863,886 124,180 10,362 845,569 45,464 10,362 154,555 15,696 - - - - 1,000,124 61,160 10,362 2,863,762 63,021 - 2,784,057 62,013 - |
Total £ 3,747,465 250,963 - |
|---|---|---|
| 3,998,428 | ||
| 901,395 170,251 - |
||
| 1,071,646 | ||
| 2,926,783 | ||
| 2,846,071 |
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DocuSign Envelope ID: 7BB745DE-5264-4820-8409-C6B7C38D9982
THE ARK ISLEHAM (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
9. FIXED ASSET INVESTMENTS
| IXED ASSET INVESTMENTS Shares in subsidiary |
2022 £ 1 |
2021 £ 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 £18,802 (2021: (£17,454)) and its loss for the year was £447 (2020: (£10,918 profit).
| 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Gift aid Prepayments and other debtors 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Examiner fee Payroll taxes Mortgage Loans from members Other creditors and accruals 12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Mortgage Loans from members Amounts falling due in more than five years and repayable by instalments: Mortgage 13. LEASING AGREEMENTS Due within one year Between one and five years |
2022 £ 18,229 6,996 25,225 2022 £ 2,300 2,262 - 49,000 3,881 57,442 2022 £ - 273,287 273,287 - 2022 £ 1,475 5,902 7,377 |
2021 £ 45,156 7,410 |
|---|---|---|
| 52,566 | ||
| 2021 £ 2,100 1,701 56,320 - 4,273 |
||
| 64,394 | ||
| 2021 £ 706,524 - |
||
| 706,524 | ||
| 275,000 | ||
| 2021 £ - - |
||
| - |
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DocuSign Envelope ID: 7BB745DE-5264-4820-8409-C6B7C38D9982
THE ARK ISLEHAM (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
| 14. STATEMENT OF FUNDS Unrestricted Funds General Fund Restricted Funds Church Construction Fund Poland Fund Insurance Fund Community Pantry Fund Loan Repayment Fund Total Funds |
Brought Transfers forward Income Expenditure in/(out) £ £ £ £ 207,621 285,223 (313,436) (49,180) 207,621 285,223 (313,436) (49,180) 2,256,457 421,249 (168,604) 49,180 85 221 (207) - 20,250 - (20,250) - - 5,306 (1,748) - - 20,000 - - 2,276,791 446,776 (190,809) 49,180 2,484,412 731,999 (504,245) - |
Carried forward £ 130,228 |
|---|---|---|
| 130,228 | ||
| 2,558,282 99 - 3,558 20,000 |
||
| 2,561,938 | ||
| 2,712,165 |
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.
Community Pantry Fund
Isleham Community pantry seeks to support local people who find themselves in difficult circumstances, by providing food and toiletries.
Loan Repayment Fund
Donation given for the repayment of loans given my members.
Unrestricted Funds
These funds are expendable at the discretion of the Trustees and Church Council in furtherance of the objectives of the Church.
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DocuSign Envelope ID: 7BB745DE-5264-4820-8409-C6B7C38D9982
THE ARK ISLEHAM (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
15. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Unrestricted Restricted funds funds 2022 2022 £ £ Fixed assets - tangible 63,022 2,863,762 Fixed assets - investments 1 - Current assets 75,648 40,463 Creditors due within one year (8,442) (49,000) Creditors due after more than one year - (273,287) Total 130,228 2,581,938 |
Total funds 2022 £ 2,926,783 1 116,110 (57,442) (273,287) |
|---|---|
| 2,712,165 |
16. RELATED PARTY TRANSACTIONS
During the year £535 (2021: £525) was paid by the charity for Trustee indemnity insurance.
During the year £22,200 of donations were received from Trustees.
17. CAPITAL COMMITMENTS
The Church had no capital commitments for the freehold building as at 31 December 2022 (2021: £141,000).
18. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES
| Income from: Donations and legacies Investments Total income Expenditure on: Charitable activities Total expenditure Net Income before transfers Transfers between funds Net movement in funds |
Unrestricted Restricted Total funds funds funds 2021 2021 2021 £ £ £ 291,132 434,763 725,895 21 7 28 |
|---|---|
| 291,153 434,770 725,924 |
|
| 207,629 213,354 420,983 |
|
| 207,629 213,354 420,983 |
|
| 83,525 221,416 304,941 (63,146) 63,146 - |
|
| 20,379 284,562 304,941 |
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