COMPANY REGISTRATION NUMBER: 06300369 CHARITY REGISTRATION NUMBER: 1122528
New Life Church, Cirencester Company Limited by Guarantee Unaudited Financial Statements
31 December 2021
UHY ROSS BROOKE
Chartered Accountants
16 Dorcan Business Village Murdock Road
Dorcan Swindon Wiltshire SN3 5HY
New Life Church, Cirencester
Company Limited by Guarantee
Financial Statements
Year ended 31 December 2021
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 5 |
| Statement of financial activities (including income and | |
| expenditure account) | 6 |
| Statement of financial position | 7 |
| Notes to the financial statements | 8 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 17 |
| Notes to the detailed statement of financial activities | 18 |
New Life Church, Cirencester
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 December 2021
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 December 2021.
Reference and administrative details
Registered charity name New Life Church, Cirencester Charity registration number 1122528
Company registration number 06300369
Principal office and registered 69 Springfield Road office Cirencester Gloucestershire GL7 1SH The trustees Mr K Tayo Mr E U Bassey Mr E Mainza Mr O J Omakoya Independent examiner L Hobbs FCCA of UHY Ross Brooke 16 Dorcan Business Village Murdock Road Dorcan Swindon Wiltshire SN3 5HY
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New Life Church, Cirencester
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 December 2021
Structure, governance and management
The charity is a company limited by guarantee established by a charitable trust deed on 3 July 2007.
The trustees, who are also the directors for the purpose of company law, and who served during the year, were: Mr Kola Tayo Mr Etukudo Bassey Mr Ernest Mainza Mr Joseph Onakoya
None of the trustees have any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The charity is run on a day to day basis by a Leadership Team, who are Mr Kola Tayo (Pastor), Mr Shaun Miles, Mrs Kiki Stanton, Mrs Jenny Bester and Mrs Fiona Hocken (Treasurer).
New Life Church, Cirencester, is a member of Churches Together in Cirencester, who encourage good relationships between the leaders and congregations of all 12 local churches.
The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Objectives
The charity’s objectives are:
a. To advance the Christian faith in accordance with the Statement of Beliefs appearing in the Schedule hereto in Cirencester, Gloucestershire and in such other parts of the United Kingdom or the world as the Trustees may from time to time think fit, 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.
b. 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 in Cirencester, Gloucestershire, and in such other parts of the United Kingdom or the world as the Trustees from time to time may think fit.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
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New Life Church, Cirencester
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 December 2021
Achievements and performance
Over the year ending 31 December 2021 New Life Church Cirencester have endeavoured to achieve their objectives. The church building was sold in December 2020 and meeting together was not possible at the start of 2021 due to Covid restrictions, so the services were done online as Zoom calls. From April 2021 the church began to meet at Cirencester Primary School and continued there throughout 2021.
Regular events:
A regular Sunday service at 10.30am took place either on Zoom when there were restrictions on meeting indoors, or from April 2021 in a school hall.
Children’s teaching: this was able to happen at the Primary School Hall, though the children were not able to go to a separate space for the time together.
Housegroups: Housegroups were able to meet in person by the end of the year, previous to that by Zoom. They did continue through 2021.
A Prayer Meeting was held on a Friday evening each week: this took place on Zoom.
Each week Outreach is carried out in the centre of Cirencester on a Wednesday morning to take the gospel message to the people of the town. This is a core Ministry of the church. As it is conducted outdoors it was able to continue for most of the year, at least from spring onwards.
Finances were in the bank from the sale of the building. Some overdue maintenance work was carried out on the church owned house, including removing some over-tall trees, replacing the cooker, and miscellaneous DIY work that was required.
Some support was also made available to the Pastor and his family in Malawi who had financial difficulties.
Construction of 3 church buildings in Malawi were completed in 2021 Mzuzu, Karonga, and another in Lwezga. New Life Church members supported this work financially, enabling the locals in Malawi to have a sheltered and safe place to meet. The buildings are the property of the church in Malawi. Pastor Kola was able to visit Malawi at the end of the year to open the church buildings on behalf of New Life Church.
Specific Activities in 2021:
April: Anniversary: The Anniversary was celebrated at the School, with a service on the weekend of Saturday / Sunday 30[th] April / 1[st] May. It was well attended.
July : A summer family picnic was held at the local park, all invited.
September : an Annual General Meeting was held at the School
December 31st: A Watchnight service took place over the midnight hour to see in the New Year it was held at the School this time.
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New Life Church, Cirencester
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 December 2021
Financial review
All of the church’s assets were employed directly in pursuing the charitable objectives of the church.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six months expenditure. The trustees consider that reserves at this level will ensure that in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised.
It has been noted by the Leadership Team and Trustees, that whilst sufficient funds are on hand, there was a heavy deficit in income during the year. The Trustees have reviewed the outgoings and incomes in detail and are looking at ways to reduce the costs of running the church.
They are also looking at ways to bring back previous members and attract newcomers to church.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by:
Mr K Tayo Trustee
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New Life Church, Cirencester
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of New Life Church, Cirencester
Year ended 31 December 2021
I report to the trustees on my examination of the financial statements of New Life Church, Cirencester ('the charity') for the year ended 31 December 2021.
Responsibilities and basis of report
The trustees are also the directors of the company for the purposes of company law are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
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:
-
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
-
the financial statements do not accord with those records; or
-
the financial statements 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
-
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
L Hobbs FCCA of UHY Ross Brooke Independent Examiner
16 Dorcan Business Village Murdock Road Dorcan Swindon Wiltshire SN3 5HY
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New Life Church, Cirencester
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 December 2021
| 2021 | 2020 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| fundsTotal funds | Total funds | |||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 5 | 31,618 | 31,618 | 39,936 |
| Other income | 6 | – | – | 29,039 |
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Total income | 31,618 | 31,618 | 68,975 | |
| ============================ | ============================ | ============================ | ||
| Expenditure | ||||
| Expenditure on charitable activities | 7,8 | 45,831 | 45,831 | 47,375 |
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Total expenditure | 45,831 | 45,831 | 47,375 | |
| ============================ | ============================ | ============================ | ||
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Net (expenditure)/income and net movement in funds | (14,213) | (14,213) | 21,600 | |
| ============================ | ============================ | ============================ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 231,354 | 231,354 | 209,754 | |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total funds carried forward | 217,141 | 217,141 | 231,354 | |
| ================================ | ================================ | ================================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 8 to 15 form part of these financial statements.
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New Life Church, Cirencester
Company Limited by Guarantee
Statement of Financial Position
31 December 2021
| 2021 | 2020 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Fixed assets | ||||
| Tangible fixed assets | 14 | 172,404 | 174,013 | |
| Current assets | ||||
| Debtors | 15 | 4,600 | 1,049 | |
| Cash at bank and in hand | 42,945 | 70,968 | ||
| ---------------------------- | ---------------------------- | |||
| 47,545 | 72,017 | |||
| Creditors: amounts falling due within one year | 16 | 2,808 | 14,676 | |
| ---------------------------- | ---------------------------- | |||
| Net current assets | 44,737 | 57,341 | ||
| -------------------------------- | -------------------------------- | |||
| Total assets less current liabilities | 217,141 | 231,354 | ||
| -------------------------------- | -------------------------------- | |||
| Net assets | 217,141 | 231,354 | ||
| ================================ | ================================ | |||
| Funds of the charity | ||||
| Unrestricted funds | 217,141 | 231,354 | ||
| -------------------------------- | -------------------------------- | |||
| Total charity funds | 19 | 217,141 | 231,354 | |
| ================================ | ================================ |
For the year ending 31 December 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:
Mr K Tayo Trustee
Company Registration Number: 06300369
The notes on pages 8 to 15 form part of these financial statements.
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New Life Church, Cirencester
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 December 2021
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 69 Springfield Road, Cirencester, Gloucestershire, GL7 1SH.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The charity has struggled to generate sufficient income to cover its expenses in recent years. The sale of a property in December 2020 significantly reduced overheads and boosted reserves and the trustees are actively looking to reduce remaining overheads during 2022 to a sustainable level. The accounts have therefore been prepared on a going concern basis.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of (enter name of group financial statements) which can be obtained from (enter detail). As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102:
(a) No cash flow statement has been presented for the company.
(b) Disclosures in respect of financial instruments have not been presented.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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New Life Church, Cirencester
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2021
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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New Life Church, Cirencester
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2021
3. Accounting policies (continued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
| Freehold property | - | 1% straight line |
|---|---|---|
| Fixtures, fittings and | - | 20% straight line |
| equipment | ||
| Motor vehicles | - | 20% straight line |
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.
Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
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New Life Church, Cirencester
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2021
3. Accounting policies (continued)
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Limited by guarantee
All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
5. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Donations | |||||
| Donations | 31,618 | 31,618 | 35,254 | 35,254 | |
| Grants | |||||
| Government grant income | – | – | 4,682 | 4,682 | |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | ||
| 31,618 | 31,618 | 39,936 | 39,936 | ||
| ============================ | ============================ | ============================ | ============================ | ||
| 6. | Other income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Gain on disposal of tangible fixed | |||||
| assets held for charity's own use | – | – | 29,039 | 29,039 | |
| ============== | ============== | ============================ | ============================ |
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New Life Church, Cirencester
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2021
7. Expenditure on charitable activities by fund type
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Church activities | 43,399 | 43,399 | 41,883 | 41,883 | |
| Support costs | 2,432 | 2,432 | 5,492 | 5,492 | |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | ||
| 45,831 | 45,831 | 47,375 | 47,375 | ||
| ============================ | ============================ | ============================ | ============================ | ||
| 8. | Expenditure on charitable activities by activity type | ||||
| Activities | |||||
| undertaken | Support | Total funds | Total fund | ||
| directly | costs | 2021 | 2020 | ||
| £ | £ | £ | £ | ||
| Church activities | 43,399 | – | 43,399 | 41,883 | |
| Governance costs | – | 2,432 | 2,432 | 5,492 | |
| ---------------------------- | ----------------------- | ---------------------------- | ---------------------------- | ||
| 43,399 | 2,432 | 45,831 | 47,375 | ||
| ============================ | ======================= | ============================ | ============================ | ||
| 9. | Analysis of support costs | ||||
| Church | |||||
| activities | Total 2021 | Total 2020 | |||
| £ | £ | £ | |||
| Independent examiners fee | 2,066 | 2,066 | 2,040 | ||
| Legal and professional fees | 360 | 360 | 3,413 | ||
| Interest, charges, and penalties | 6 | 6 | 39 | ||
| ----------------------- | ----------------------- | ----------------------- | |||
| 2,432 | 2,432 | 5,492 | |||
| ======================= | ======================= | ======================= | |||
| 10. | Net (expenditure)/income | ||||
| Net (expenditure)/income is stated after charging/(crediting): | |||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Depreciation of tangible fixed assets | 2,203 | 2,192 | |||
| Gains on disposal of tangible fixed assets | – | (29,039) | |||
| ======================= | ============================ | ||||
| 11. | Independent examination fees | ||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Fees payable to the independent examiner for: | |||||
| Independent examination of the financial statements | 2,066 | 2,040 | |||
| ======================= | ======================= |
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New Life Church, Cirencester
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2021
12. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 20,000 | 20,000 |
| Employer contributions to pension plans | 413 | 414 |
| ---------------------------- | ---------------------------- | |
| 20,413 | 20,414 | |
| ============================ | ============================ |
The average head count of employees during the year was 1 (2020: 1). The average number of full-time equivalent employees during the year is analysed as follows:
| 2021 | 2020 | |
|---|---|---|
| No. | No. | |
| Number of staff - Pastors | 1 | 1 |
| ============== | ============== |
No employee received employee benefits of more than £60,000 during the year (2020: Nil).
13. Trustee remuneration and expenses
One or more trustees has been paid remuneration or received other benefits from employment with the charity or a related entity.
Mr K Tayo is the leading church pastor and received remuneration under PAYE of £20,000 (2020 - £20,000) plus employers pension contributions under auto-enrolment of £413 (2020 - £414).
No charity expenses have been incurred by the trustees.
14. Tangible fixed assets
| Land and | Fixtures and | ||
|---|---|---|---|
| buildings | fittings | Total | |
| £ | £ | £ | |
| Cost | |||
| At 1 January 2021 | 186,867 | 5,743 | 192,610 |
| Additions | – | 594 | 594 |
| -------------------------------- | ----------------------- | -------------------------------- | |
| At 31 December 2021 | 186,867 | 6,337 | 193,204 |
| ================================ | ======================= | ================================ | |
| Depreciation | |||
| At 1 January 2021 | 13,082 | 5,515 | 18,597 |
| Charge for the year | 1,869 | 334 | 2,203 |
| -------------------------------- | ----------------------- | -------------------------------- | |
| At 31 December 2021 | 14,951 | 5,849 | 20,800 |
| ================================ | ======================= | ================================ | |
| Carrying amount | |||
| At 31 December 2021 | 171,916 | 488 | 172,404 |
| ================================ | ======================= | ================================ | |
| At 31 December 2020 | 173,785 | 228 | 174,013 |
| ================================ | ======================= | ================================ |
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New Life Church, Cirencester
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2021
15. Debtors
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Other debtors | 4,600 | 1,049 |
| ======================= | ======================= | |
| Creditors: amounts falling due within one year | ||
| 2021 | 2020 | |
| £ | £ | |
| Bank loans and overdrafts | 2 | 13,752 |
| Accruals and deferred income | 2,040 | 2,040 |
| Social security and other taxes | 686 | 231 |
| Other loans | – | (200) |
| Other creditors | 80 | (1,147) |
| ----------------------- | ---------------------------- | |
| 2,808 | 14,676 | |
| ======================= | ============================ |
16. Creditors: amounts falling due within one year
17. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £413 (2020: £414).
18. Government grants
The amounts recognised in the financial statements for government grants are as follows:
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Recognised in income from donations | and legacies: | ||||
| Government grants income | – | 4,682 | |||
| ============== | ======================= | ||||
| Analysis of charitable funds | |||||
| Unrestricted funds | |||||
| At | At | ||||
| 1 January | 20 | 31 Decembe | |||
| 21 | Income | Expenditure | r 2021 | ||
| £ | £ | £ | £ | ||
| General funds | 231,354 | 31,618 | (45,831) | 217,141 |
|
| ================================ | ============================ | ============================ | ================================ | ||
| At | At | ||||
| 1 January | 20 | 31 December | |||
| 20 | Income | Expenditure | 2020 | ||
| £ | £ | £ | £ | ||
| General funds | 209,754 | 68,975 | (47,375) | 231,354 |
|
| ================================ | ============================ | ============================ | ================================ |
19. Analysis of charitable funds
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New Life Church, Cirencester
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2021
20. Analysis of net assets between funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2021 | |
| £ | £ | |
| Tangible fixed assets | 172,404 | 172,404 |
| Current assets | 42,945 | 42,945 |
| Creditors less than 1 year | (2,808) | (2,808) |
| -------------------------------- | -------------------------------- | |
| Net assets | 212,541 | 212,541 |
| ================================ | ================================ | |
| Unrestricted | Total Funds | |
| Funds | 2020 | |
| £ | £ | |
| Tangible fixed assets | 174,013 | 174,013 |
| Current assets | 72,017 | 72,017 |
| Creditors less than 1 year | (14,676) | (14,676) |
| Creditors greater than 1 year | – | – |
| -------------------------------- | -------------------------------- | |
| Net assets | 231,354 | 231,354 |
| ================================ | ================================ |
21. Related parties
During the year the trustees made donations to the charity without conditions totalling £980 (2020 - £480).
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New Life Church, Cirencester
Company Limited by Guarantee
Management Information
Year ended 31 December 2021
The following pages do not form part of the financial statements.
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New Life Church, Cirencester
Company Limited by Guarantee
Detailed Statement of Financial Activities
Year ended 31 December 2021
| Year ended 31 December 2021 | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Donations | 31,618 | 35,254 |
| Government grant income | – | 4,682 |
| ---------------------------- | ---------------------------- | |
| 31,618 | 39,936 | |
| ---------------------------- | ---------------------------- | |
| Other income | ||
| Gain on disposal of tangible fixed assets held for charity's own use | – | 29,039 |
| -------------- | ---------------------------- | |
| ---------------------------- | ---------------------------- | |
| Total income | 31,618 | 68,975 |
| ============================ | ============================ | |
| Expenditure | ||
| Expenditure on charitable activities | ||
| Wages and salaries | 20,000 | 20,000 |
| Pension costs | 413 | 414 |
| Rent | 6,746 | 2,218 |
| Rates and water | 1,530 | 1,632 |
| Light and heat | (706) | 1,729 |
| Repairs and maintenance | 2,682 | 85 |
| Insurance | 462 | 1,034 |
| Other motor/travel costs | 2,456 | – |
| Legal and professional fees | 2,676 | 5,753 |
| Telephone | 679 | 627 |
| Depreciation | 2,203 | 2,192 |
| Interest on bank loans and overdrafts | – | 8,852 |
| Other interest payable and similar charges | 6 | 39 |
| Sundry expenses | 725 | 726 |
| Subscriptions | 670 | 553 |
| Donations | 5,289 | 1,521 |
| ---------------------------- | ---------------------------- | |
| 45,831 | 47,375 | |
| ---------------------------- | ---------------------------- | |
| ---------------------------- | ---------------------------- | |
| Total expenditure | 45,831 | 47,375 |
| ============================ | ============================ | |
| ---------------------------- | ---------------------------- | |
| Net (expenditure)/income | (14,213) | 21,600 |
| ============================ | ============================ |
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New Life Church, Cirencester
Company Limited by Guarantee
Notes to the Detailed Statement of Financial Activities
Year ended 31 December 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Expenditure on charitable activities | ||
| Church activities | ||
| Activities undertaken directly | ||
| Wages/salaries | 20,000 | 20,000 |
| Pension costs | 413 | 414 |
| Rent and service charges | 6,746 | 2,218 |
| Rates & water | 1,530 | 1,632 |
| Light & heat | (706) | 1,729 |
| Repairs & maintenance | 2,682 | 85 |
| Insurance | 462 | 1,034 |
| Travel costs | 2,456 | – |
| Speakers | 250 | 300 |
| Telephone | 679 | 627 |
| Depreciation | 2,203 | 2,192 |
| Bank interest and charges | – | 8,852 |
| Sundry expenses | 725 | 726 |
| Subscriptions | 670 | 553 |
| Donations | 5,289 | 1,521 |
| ---------------------------- | ---------------------------- | |
| 43,399 | 41,883 | |
| ---------------------------- | ---------------------------- | |
| Governance costs | ||
| Independent examiners fee | 2,066 | 2,040 |
| Legal & professional fees | 360 | 3,413 |
| Interest, charges, and penalties | 6 | 39 |
| ----------------------- | ----------------------- | |
| 2,432 | 5,492 | |
| ----------------------- | ----------------------- | |
| ---------------------------- | ---------------------------- | |
| Expenditure on charitable activities | 45,831 | 47,375 |
| ============================ | ============================ |
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