THE BEACON WHITCHURCH LIMITED A Company Limited by Guarantee
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
Company No. 06587579 (England and Wales) Registered Charity No. 1124740
THE BEACON WHITCHURCH LIMITED
COMPANY INFORMATION
Directors and Trustees Dr J Muir - Leader Mr K Holland - Hon. Treasurer Mr R Smallwood Dr D Williams Mr D Seager Appointed 24th January 2023 Eldership Team Dr J Muir Mr K Holland Dr D Williams Mr A Chapman Company Number 06587579 (England and Wales) Charity Number 1124740 Registered Office 5 Watergate Street Whitchurch Shropshire SY13 1DW Office Location 5 Watergate Street Whitchurch Shropshire SY13 1DW Principal Meeting Place 5 Watergate Street Whitchurch Shropshire SY13 1DW Accountants James, Holyoak & Parker Limited 1 Knight’s Court Archers Way Battlefield Enterprise Park Shrewsbury Shropshire SY1 3GA Bankers Lloyds Banking Group 1 Pride Hill Shrewsbury Shropshire SY1 1DG
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THE BEACON WHITCHURCH LIMITED
CONTENTS
| Page | |
|---|---|
| Trustees' Report | 4 - 9 |
| Independent Examiner's Report | 10 |
| Statement of Financial Activities | 11 |
| Balance Sheet | 12 |
| Notes to the Accounts | 13 - 18 |
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THE BEACON WHITCHURCH LIMITED
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023
The trustees, who are also directors of the charity, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees confirm that the annual report and the financial statements of the the charitable company comply with current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Charity information
The Beacon Whitchurch Limited is a registered charity and private company with no issued share capital, incorporated in England and Wales. The registered office is 5 Watergate Street, Whitchurch, Shropshire, SY13 1DW. The registered company number is 06587579 (England & Wales), and the registered charity number is 1124740.
Trustees/Directors
The directors/trustees, who held office during the year and up to the date of signature of the financial statements was as follows:
Dr J Muir - Leader Mr K Holland - Hon. Treasurer Mr R Smallwood Dr D Williams Mr D Seager
Eldership Team
The initial Elders, Dr J Muir and Mr K Holland, were appointed on 3rd April, 2011 when the Beacon Church became a fully autonomous church having been ‘planted’ from Barnabas Community Church in Shrewsbury four years earlier. Dr D Williams was apponited on 30th April 2017 and Mr Glyn Chapman on 15th September 2019. Together they are responsible for the spiritual direction of the church, for its day to day running and for delegating responsibilities to others within the church with regard to areas of the church’s ministry.
Recruitment and Appointment of Leadership Team
As identified in previous years, ‘departmental leaders’ appointed from time to time by the Elders continue to share in the responsibility of managing the day-to-day operations of the church under their guidance. Their responsibilities relate to children, youth, worship, small groups including our mid-week fellowship groups, prayer ministry, pastoral care, publicity, catering and safeguarding. Those leaders meet with the Elders on a regular basis. The Elders recognise that the key ingredient is the personal strengths and skills of the individuals involved and the calling God has placed on their lives.
Trustees Appointment, Induction and Training
All of the directors/trustees are aware of the literature and updates provided by the Charities Commission.
Governing document
The charity is constituted as a company limited by guarantee, and is therefore governed by a Memorandum and Articles of Association, which was approved on 8th May 2008.
Aims and Purpose
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To delight in God and worship Him
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To become all that Christ wants us to be
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To bring hope and restoration to everyone in our community
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To fulfil the great commission and so hasten Christ's return
Our vision continues to be that ‘church’ should operate on three levels or ‘tiers’: firstly as a ‘cell’ in small Connect Groups meeting during the week for fellowship, teaching, prayer, encouragement and development of our God-given gifts; secondly as a ‘congregation’ meeting on Sundays to further develop gifting, to worship together and to reach out to the community; and thirdly, periodically, in a ‘celebration’ meeting together with other churches in our region to encourage each other, and also at festivals and conferences. All three ‘ingredients’ have again been evident in the year under
The Purpose, Values and Vision statements are routinely communicated to new people joining Beacon Church in order that we might have a shared vision going forward.
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THE BEACON WHITCHURCH LIMITED
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Objectives and Activities:
History
Beacon Church was launched on 27th April, 2008 following a period of several years during which a weekly ‘Cell Group’ had met in Whitchurch to bring together a sufficient number of like-minded Christian people to make the launch
Worship, Study and Prayer
With the impact of Covid 19 largely behind us, weekly wroship services have continued at our new premises although, naturally, necessary precautions continued to be observed in the first of the year under review.
Services have been well attended throughout the year with congregations generally ranging between the mid 50's to low 80's but usually between 55 and 70. Many of the talks given during our services are recorded and uploaded to our Facebook and You Tube channels where those who are unable to attend can listen. We afre delighted that all but a tiny minority have now returned to regular worship after the pandemic.
As previously reported the church no longer has a formal membership on the basis that all Christians are part of One Body in Christ. We continue to encourage those who are new to the church to attend our 'Introduction to Beacon' course which sets out our beliefs, values and vision and then to decide whether or not to become part of the Family which is Beacon Church. We welcome all who wish to express their commitment to the life and work of Beacon Church. The Beacon Church family, as defined as those who have made a commitment to the church, currently extends to approximately 78. (62 in membership in 2021).
Two further Alpha courses have been held during the past year at our Watergate Centre including a simple pre-prepared meal for those participating. The participants of the first course have continued to meet regularly for further study and one now attends our services weekly. The second Alpha group has also migrated into a group undertaking further study
Our mid-week Connect Groups - small groups meeting in individual's homes on a weekly basis - have continued throughout the year. All groups are again meeting together 'face-to-face'. Two daytime groups and three evening groups currently meet weekly, although some take breaks during school hgolidays. We are most grateful to those who offer hospitality in their own homes to facilitate these group.
Powerhouse - our monthly evening meeting for worship, praise and prayer has continued throughout the period under review. It provides and opportunity for people to worship God more freely than is sometimes possible within the structure of regular morning services which are designed to be more 'visitor friendly'.
Although Covid is now largely behind us we have continued our twice weekly prayer meetings over Zoom. This has particularly helped those who are 'carers' to remain in contact withou having to make alternative arrangements for their spouse. We continue to assert that we see prayer as the petrol that fuels the motor that is the church.
Social Action
Three new projects have been provided since the autumn of 2022 to offer facilities to our local community. Firstly, the church became an official 'Warm Space' within the scheme promoted by Shropshire Council to a safe and secure environment for those struggling to heat their homes as a result of fuel inflation. The reality was that people came more for companionship than warmth and it has been decidied to continue to offer a 'Welcome Space' now that the official scheme has ended. Secondly we have established a weekly "Connect For You' group where adults with educational or mobility challenges (and their carers if desired) can come togather for a time of fun, games, laughter and refreshments! Thirdly we have offered 'English as a Second Language for those from overseas who have limited english language skills. Sadly the up-take has not been as great as expected as many of these people rapidly find employment and are unable to attend! All these groups are offered free of charge to the users.
We have held two very successful "Chip 'n Quiz" evenings which have been open to all members of the community and are planning to take a group from "Connect for You" on a canal boat day trip this Spring.
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THE BEACON WHITCHURCH LIMITED
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Young People’s Activities
‘Bea Club’ – our after-school activity for children aged between 7 and 11 years relaunched during the autumn term and has attracted a good number of children. Having effectively been 'on-hold' for three years almost all the children previously attending were too old to come back! We are delighted now to have a good size base from which to build into
BYG (Beacon Youth Group) has been meeting at Watergate on Friday evenings and we are trying to re-build the enthusiasm and impetus. The fact that a number of young people have part-time work after school and at weekends impedes their commitment to the group.
Our Easter Extrazaganza (actually held on 1st April 2023) was a great success with almost 350 people visiting and sharing in the various activities directed mainly at children under the age of twelve. It was a truly happy occasion that embraced the spirit of community in our town.
We have been pleased to welcome SYA (Shropshire Youth Association) into our premises one evening a week to run separate groups for two age ranges of children / young people. SYA were 'homeless' as their staff availability did not match access to suitable accommodation. It is our understanding these groups are working well.
Mission and Evangelism
Beacon Church's activities outside of our own premises have begun to gather momentumn again following the pandemic.
1. Representation at activities organised by other groups:
- Beacon Church joined with our friends at St Alkmund's Parish Church for a Civic Service to remember the life of our late Queen and we have again joined with the other churches in the town for a number of joint services to The annual town wide distribution of Christmas cards giving details of all the churches Christmas services was out-sourced to the Post Offcie for delivery for the first time. The Watergate Centre was one of the two primary venues for the annual Churches Together Lent Lunches.
2. Outreach activities organised and run by our own people:
- We have been able to use our new premises as a base to support community activities such as the monthly Artisan Market and the annual Blackberry Fair and Christmas Light Switch-on celebrations.
3. Social and general interest events:
- Beacon Church has continued to have responsibility for keeping one public area in the town clean and tidy although we plan to relinquish this responsibilty in view of additional commitment of maintaining our own premises in good order.
4. Alpha and ‘Special’ Services:
- Alpha courses have continued as previously reported. It was our pleasure to welcoem Whitchurch Town Band to lead our carols at our annual Carol Serevice in December. The recent 'live' Alpha course has been reported upon above.
5 Watergate Street - known as Watergate Centre
It is now over two years since we took ownership of 5 Watergate Street in the heart of Whitchurch. A considerable amount of work has again been done to adapt the premises to meet the needs of both our church and the community we wish to serve. However, there is still a considerable amount that needs to be done on the ground floor before we contemplate providing access to the first floor via a new staircase and lift. Much of the work continues to be undertaken by our own people who kindly volunteer their services although specialised activities such as electricals and fire protection are outsourced to local professionals.
During the year we have installed solar panels on our flat roof space and also upgrded and extended the air-source heating to much of the ground floor. These measures have been undertaken to help address the high cost of heating the
We have engaged the services of a professional fundraiser to assist us in sourcing funds to further develop the Watergate Centre. Although we had previously sought to undertake this operation ourselves the time commitment involved together with our lack of expertise in this area led us to look for assistance.
Whitchurch Men in Sheds have used rooms on our mezzanine floor as a base for their equipment and workshop - they meet at least twice a week. The Watergate Centre is now home to Whitchurch Singers who meet weekly to sign and have fun. As previously mentioned Shropshire Youth now come to us one evening a week and we have recently hosted a nationally recognised holiday club.
With the increased usage of the Centre, and to assist with ongoing upgrades, repairs, maintenance and cleaning, we employed a local person as a janitor on a part time basis. This is working extremely well
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THE BEACON WHITCHURCH LIMITED
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Ecumenical Relationships
Beacon Church is part of Churches Together in Whitchurch and, as previously reported, we have tkaen a full part in local multi-church activities including the annual Christian Aid Week collection and the Easter March of Witness. We see our partnership with the established churches in the town as important to witness to our community.
Our church continues to be represented both on the voluntary Management Committee and bank of helpers who operate Whitchurch Foodbank. It has been a busy year for Foodbank as they are called upon by an increasing number of clients for food support. Most Foodbank donations are in packets and tins but if fresh food is offered the Foodbank freezer kept at Watergate is brought into use.
Although we have twice offered the Christians Against Poverty (CAP) Money Course – we have had little uptake. Sadly we understand this is reflected in other local towns where CAP is available.
How our activities deliver public benefit
Services at The Beacon Church are open to all members of the public who are welcome to attend any of our services and activities. It remains our aim that Christians should not transfer from other churches to join us but rather that we reach out to the ‘un-churched’ in Whitchurch and the surrounding areas. we are pleased now to be able to offer additional facilities for the Whitchurch people and we are seeking ways in which they can make Watergate Centre their
All our outreach activities are organised with the non-church-going general public in mind: we try to reflect this in our advertising for these events.
Transactions and Financial Position
The Church’s financial results and state of affairs for the period ended 31st March 2023 are summarised in the accounts. At that date we had accumulated funds of £299,910 of which £648 is held as a bursary fund for members and friends attending the Devoted Conference, £262 to purchase items to kick start a series of Peaced Together courses and £508 designated for Mission and Relief but not paid away during the year under review, leaving £298,492 by way of general reserves. The Elders consider this to be a satisfactory result for the Church at the end of its twelth accounting period, and provides a basis to launch into another year of growth and development. The Elders, however, continue to be very aware that much of our income is vested in a relatively small number of principle donors, as a result of which income can fluctuate swiftly as members move away and others join the church. Whilst no specific actions are required the Elders are especially aware that the uncertainties surrounding the church’s income could quickly impact our ability to repay our
Reserves Policy
Having achieved the aims of our long-help Reserves Policy, namely to puchare our own premises and to employ a member of staff - we are aware we will little in reserve for the foreseeable future. We are determined, however, to hold sufficient in reserve to enable us to operte for at least three months in the very unlikely event that all regular income
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THE BEACON WHITCHURCH LIMITED
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Volunteers
All four Elders operate wholly in a voluntary capacity. Anything up to 20 people are involved in almost all of our Sunday services working in varying capacities such as children/youth, refreshments, welcoming, leading sung worship, speaking, reading and so on. All of our activities, our mid-week Connect Groups, our youth activites and outreach events are totally reliant on the giving of voluntary time and energy by the church family. We are so grateful to each and every one of them.
Plans for future periods
Work on alterations to our new Watergate property will continue in as quick a time frame as possible. Some of this work will be undertaken by our own volunteers but more extensive projects will need to be undertaken by professionals. The speed of that work will be dictated by our ability to attract grants and other giving streams. As that work is completed, we hope to introduce additional programmes to 'connect' with the people of Whitchurch in every way that we can.
It is now fifteen years since Beacon Church was established in Whitchurch. We want to continue to build the church and to reach out into the town and surrounding areas and to have a greater impact for Jesus Christ in the community of Whitchurch. As more work is done on our premises and they appear more 'attractive' we hope to introduce more groups and programmes to help in our communbity, to provide space for others to work and offer services, and also to be a place where professionals may meet with their clients.
Risk Management
The Elders continue to monitor and revise risk assessments with regard to our activities.
A rigorous Safeguarding Policy is in force, and all personnel working with children (and should the need arise, vulnerable adults) are approved subject to DBS checks. There have been no significant incidents requiring to be reported in the year under review.
Related Parties
The Beacon Church is an autonomous body. It is a member of ChristCentral Shropshire (made up of the four Newfrontiers churches in the County) which itself is part of ChristCentral uniting the Newfrontiers churches situated from the Midlands to Scotland and some overseas countries. These links are particularly useful in terms of the support and encouragement they offer the Eldership team. There are, however, no legal or financial commitments either way.
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THE BEACON WHITCHURCH LIMITED
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Statement of trustees' responsibilities
The trustees (who are also directors of The Beacon Whitchurch Limited for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP:
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
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there is no relevant accounting information of which the charitable company’s independent examiner is unaware; and
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the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant accounting information and to establish that the independent examiner is aware of that information.
Approved by order of the board of trustees on 6 June 2023, and signed on its behalf by:
R Smallwood Director
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THE BEACON WHITCHURCH LIMITED
INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS/TRUSTEES OF THE BEACON WHITCHURCH LIMITED
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2023 which are set out on pages 11 to 18.
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:
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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
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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 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.
Robert Humphreys BEng FCA
James, Holyoak and Parker Limited 1 Knights Court Archers Way Battlefield Enterprise Park Shrewsbury Shropshire SY1 3GA
Dated: 6 June 2023
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THE BEACON WHITCHURCH LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
Summary Income and Expenditure Account
| Notes Income from: Donations & legacies 2 Income from charitable activities 3 Other income 4 Total incoming resources Expenditure on: Charitable activities 5 Transfers between funds 20 Reconciliation of funds: Total funds brought forward 20 Total funds carried forward 20 Net income/(expenditure) and net movement in funds |
Restricted £ 102,999 - - |
Unrestricted £ 71,508 2,320 3,492 |
Total 2023 £ 174,507 2,320 3,492 |
Total 2022 £ 123,464 1,083 701 |
|---|---|---|---|---|
| 102,999 131,857 28,858 |
77,320 56,206 (28,858) |
180,319 188,063 - |
125,248 108,094 - |
|
| - 910 |
(7,744) 306,744 |
(7,744) 307,654 |
17,154 290,500 |
|
| 910 | 299,000 | 299,910 | 307,654 |
The Statement of Financial Activities includes details of all gains and losses recognised in the year.
All income and expenditure derives from continuing activities.
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THE BEACON WHITCHURCH LIMITED
BALANCE SHEET AS AT 31 MARCH 2023
| Notes Fixed assets Tangible assets 15 Current assets Debtors 16 Cash at bank and in hand 17 18 Net current assets Net assets Charity funds Unrestricted funds 20 Restricted funds 20 Creditors: amounts falling due after one year Creditors: amounts falling due within one year |
9,769 54,962 |
2023 £ 390,896 (90,986) |
6,227 113,397 |
2022 £ 391,140 (83,486) |
|---|---|---|---|---|
| 64,731 (7,843) |
119,624 (10,901) |
|||
| (147,874) | (192,209) | |||
| 299,910 | 307,654 | |||
| 299,000 910 |
306,744 910 |
|||
| 299,910 | 307,654 |
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors’ responsibilities:
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The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The financial statements were approved and authorised for issue by the Board of Trustees on 6 June 2023 and signed on its behalf by:
…………………………………………
J Muir Director and Trustee
…………………………………………
K Holland Director and Trustee
The notes on pages 13 to 18 form part of these financial statements.
Company Registration Number: 06587579 (England & Wales)
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THE BEACON WHITCHURCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1. Summary of significant accounting policies
1.1 General information and basis of preparation
The Beacon Whitchurch Limited is a private company limited by guarantee, and a registered charity in England / Wales . The company number is 06587579 (England & Wales), and the registered charity number is 1124750. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is The Beacon, 28 Chester Road, Whitchurch, Shropshire, SY13 1QT. The nature of the charity’s operations and principal activities are that of the advancement of the Christian Faith.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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), the Charities Act 2011 and the Companies Act 2006.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
1.2 Funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund.
1.3 Income recognition
All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
Voluntary income is received by way of grants, donations and gifts, and is included in full in the Statement of Financial Affairs when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
Investment income is included as it becomes receivable.
1.4 Expenditure recognition
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.
Expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries.
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THE BEACON WHITCHURCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1.5 Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:
Freehold property Not depreciated Equipment 25% on a straight line basis
Freehold property is not depreciated as the directors consider the market value of the property to be no less than the historic cost, and that to depreciate the property would not be appropriate.
1.6 Tax
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
1.7 Going Concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
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THE BEACON WHITCHURCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
| 2. Income from donations and legacies Gifts under Gift Aid Tax reclaimed under Gift Aid Sunday Offerings Sunday Offerings under GADS Sunday Offerings reclaimed under GADS Donations not subject to Gift Aid Grants received 3. Income from charitable activities Outreach events refreshments Saltmine Christmas production Alpha Devoted Peaced Together Connect for You Sundry items 4. Other income Rents / storage for Centre use Sale of recyclable materials Interest received on cash deposits 5. Analysis of expenditure on charitable activities Note Costs directly allocated to activities Property expenses 6 Services expenses 7 Outreach expenses 8 General expenses 9 Giving expenses 10 Renovations 5 Watergate Street 11 Depreciation 12 6. Analysis of property expenses Note Mortgage interest Repairs and equipment Rates and services Salary costs 14 Cleaning Stationery etc. Sundries |
Restricted £ 67,556 16,889 - - - 18,554 - |
Unrestricted £ 38,648 9,641 200 2,225 556 20,238 - |
Total 2023 £ 106,204 26,530 200 2,225 556 38,792 - |
Total 2022 £ 54,538 13,634 390 2,621 655 30,626 21,000 |
|---|---|---|---|---|
| 102,999 | 71,508 | 174,507 | 123,464 | |
| Restricted £ - - - - - - - |
Unrestricted £ 484 1,301 399 - 40 78 18 |
Total 2023 £ 484 1,301 399 - 40 78 18 |
Total 2022 £ 24 - - 59 - - - |
|
| - | 2,320 | - 2,320 |
83 | |
| Restricted £ - - - |
Unrestricted £ 2,387 983 122 |
Total 2023 £ 2,387 983 122 |
Total 2022 £ 1,000 701 |
|
| - | 3,492 | 3,492 | 701 | |
| Restricted £ - - - - - 131,857 - |
Unrestricted £ 28,350 2,022 4,508 5,590 14,484 - 1,252 |
Total 2023 £ 28,350 2,022 4,508 5,590 14,484 131,857 1,252 |
Total 2022 £ 19,557 1,728 2,399 4,894 13,813 64,638 1,065 |
|
| 131,857 | 56,206 | 188,063 | 108,094 | |
| Restricted £ - - - - - - - |
Unrestricted £ 9,258 156 10,952 4,273 2,588 1,019 104 |
Total 2023 £ 9,258 156 10,952 4,273 2,588 1,019 104 |
Total 2022 £ 8,046 290 9,931 - - 940 350 |
|
| - | 28,350 | 28,350 | 19,557 |
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THE BEACON WHITCHURCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
| 7. Analysis of services expenses Speaker expenses / aids to worship Zoom expenses Training costs Training resources 8. Analysis of outreach expenses Publicity and advertising Youth and childrens' work Easter activity events Jubilee Tea Theatre production expenses Alpha expenses Party for Afghan refugee families Churches Together and Christian Aid CAP Course Materials Blackberry fair Christmas Lights Switch-on Canal Boat Outing Christian Literature to give away Television Licence 9. Analysis of general expenses Refreshments Equipment etc. Legal costs and insurance Safeguarding costs Accountancy costs Church Fleeces and polos Sundry expenses 10. Analysis of giving expenses Church tithes paid to missions 11. Watergate Street Renovations and improvements |
Restricted £ - - - - |
Unrestricted £ 688 - 1,334 - |
Total 2023 £ 688 - 1,334 - |
Total 2022 £ 50 173 1,288 217 |
|---|---|---|---|---|
| - | 2,022 | 2,022 | 1,728 | |
| Restricted £ - - - - - - - - - - - - - - |
Unrestricted £ 1,051 163 146 236 1,524 826 - 150 35 - - 85 133 159 |
Total 2023 £ 1,051 163 146 236 1,524 826 - 150 35 - - 85 133 159 |
Total 2022 £ 1,001 93 256 - - 599 46 224 - 59 121 - - - |
|
| - | 4,508 | 4,508 | 2,399 | |
| Restricted £ - - - - - - - |
Unrestricted £ 228 423 3,618 330 300 444 247 |
Total 2023 £ 228 423 3,618 330 300 444 247 |
Total 2022 £ 604 143 3,507 288 288 - 64 |
|
| - | 5,590 | 5,590 | 4,894 | |
| Restricted £ - |
Unrestricted £ 14,484 |
Total 2023 £ 14,484 |
Total 2022 £ 13,813 |
|
| - | 14,484 | 14,484 | 13,813 | |
| Restricted £ 131,857 - |
Unrestricted £ - - |
Total 2023 £ 131,857 - |
Total 2022 £ 64,638 - |
|
| 131,857 | - | 131,857 | 64,638 |
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THE BEACON WHITCHURCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
12.
Net deficit for the year
| Net deficit for the year Net deficit is stated after charging: Depreciation of tangible fixed assets owned by the charity |
2023 2022 £ £ 1,252 1,065 |
|---|---|
13. Trustees' and key management personnel remuneration and expenses
No remuneration was paid to trustees or key management personnel during the year.
During the period, re-imbursement of expenses to the trustees totalled £11,823 (2022: £10,544). These expenses related to items purchased by individuals on behalf of the Charity primarily for building materials and equipment for the new Watergate Centre. The Company has a number of trade accounts for regular suppliers but many items remain 'one-off' purchases.
14. Staff costs and employee benefits
| Staff costs and employee benefits Basic salary payments Pension set-up costs |
2023 2022 £ £ 3,772 - 500 - |
|---|---|
| 4,272 - |
15. Tangible fixed assets
| Cost or valuation: At 31 March 2022 Additions At 31 March 2023 Depreciation: At 31 March 2022 Charge for year At 31 March 2023 Net book value: At 31 March 2022 At 31 March 2023 |
Freehold Property £ 388,872 - |
Equipment £ 8,040 1,008 |
Total £ 396,912 1,008 |
|---|---|---|---|
| 388,872 | 9,048 | 397,920 | |
| - - |
5,772 1,252 |
5,772 1,252 |
|
| - | 7,024 | 7,024 | |
| 388,872 | 2,268 | 391,140 | |
| 388,872 | 2,024 | 390,896 |
16. Debtors
| Debtors Gift Aid Other debtors |
2023 £ 8,210 1,559 |
2022 £ 4,980 1,247 |
| 9,769 | 6,227 |
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THE BEACON WHITCHURCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
| 17. Creditors: amounts falling due within one year Other creditors Mortgage 18. Creditors: amounts falling due after one year Mortgage 19. Analysis of net assets between the funds Fixed assets Net current assets |
Unrestricted funds £ 390,896 (92,404) |
Designated funds £ - 508 |
2023 £ 2,315 5,528 |
2022 £ 3,975 6,926 |
|---|---|---|---|---|
| 7,843 | 10,901 | |||
| 2023 £ 147,874 |
2022 192,209 |
|||
| 147,874 | 192,209 | |||
| Restricted fund £ - 910 |
Total £ 390,896 (90,986) |
|||
| 298,492 | 508 | 910 | 299,910 |
20. Fund reconciliation
| Unrestricted: General reserve Designated funds: Mission and relief Total unrestricted funds Restricted funds: Building fund Devoted conference bursary Pieced Together Fund Total restricted funds Total funds |
As at 1 April 2022 £ 306,715 29 |
Income £ 62,462 14,858 |
Expenditure & gains/(losses) Transfers £ £ (41,827) (28,858) (14,379) - |
Expenditure & gains/(losses) Transfers £ £ (41,827) (28,858) (14,379) - |
As at 31 March 2023 £ 298,492 508 |
|---|---|---|---|---|---|
| 306,744 | 77,320 | (56,206) | (28,858) | 299,000 | |
| 648 262 - |
102,999 - - |
(131,857) - - |
28,858 - - |
- 648 262 |
|
| 910 | 102,999 | (131,857) | 28,858 | 910 | |
| 307,654 | 180,319 | (188,063) | - | 299,910 |
The balance maintained on the Designated Fund represents the amount set aside by the charity specifically for the support of ongoing projects.
21. Related party transactions
No material transactions with related parties occurred during the year, other than the re-imbursement of trustees' expenses detailed in note 12.
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