VrbJJkgun*urvTrarwoCbc Ref. 8JPXH3&4GQK 27 Sep 2022 10..41..37 BSTIUTC 411 D111 P 1r27 Registered number: 06739587 Charity number: 1128133 BRUNSTAD CHRISTIAN CHURCH DIDCOT (A company limited by guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
VrbJJkgun*urvTrarwoCbc Ref. 8JPXH3&4GQK 27 Sep 2022 10..41..37 BSTIUTC 411 D111 P ¥27 BRUNSTAD CHRISTIAN CHURCH DIDCOT {A company limited by guarantee) CONTENTS Page Roference and administralive details of tho charity. its Trustsos and advisors Trustees, report Indepeiideiit ¢xamineT'S report Statement of financial activities Balance shaet 9-10 Statement of cash flows 11 Notes to the financial staternents 12-25
VrbJJkgun*urvTrarwoCbc Ref. 8JPXH3&4GQK 27 Sep 2022 10..41..37 BSTIUTC 411 D111 P 3r27 BRUNSTAD CHRISTIAN CHURCH DIDCOT {A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021 Trustees Ms Gro Jacobs Ms Linda Heaven Mr Knut Haukelidsaeter (resigned 15 September 2021 } Mr Paul Heaven Ms Lucy Savage Company registered number 06739587 Charity registered number 1128133 Registered office Garden House, Milton Hill, Stevenlon, Abingdon, Oxfordshire, OX13 6AF Chief executive officer David Heaven Accountants James Cowper Kreston, Reading Bridge House, George Street, Reading, Berkshire, RG1 8LS Bankers HSBC. 186 Broadway, Didcot. Oxfordshire, OX118RP Page 1
VrbJJkgun*urvTrarwoCbc Ref. 8JPXH3&4GQK 27 Sep 2022 10..41..38 BSTIUTC 411 D111 P4r27 BRUNSTAD CHRISTIAN CHURCH DIDCOT {A company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 The Trustees {who are also directors of the charity for the purposes of the Companies Act) present their annual report together Mfjlh the financial statements of Brunstad Christian Church Didcol (the company) for the year ended 31 December 2021. The Trustees confim that the Annual report and financial statements of the company comply wth the current statutory requirements. the requirements of the companls goveming document and the provisions of the Statement of Recommended Practice ISORPI, applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effeGtive 1 January 2019}. sin the wmpany qualifie5 a5 small under seGtion 383, the stralegiG report iequired of medium and large companies under The Companies Acl 2006 (Stralegic Report and Direclorfs Report) Regulations 2013 is not r&]uired. STRUCTURE, GOVERNANCE AND MANAGEMENT CONSTITUTION The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 3 November 2008. The Articles of Association were updated in December 2011 to refflect the latest guidelines and to provide that voting of the board should be unanimous where not specified olherwse by the companies acts. The company is constituted under a Memorandum of Association dated 3 November 2008 and is a registered charity number 1128133. The principal object of the company is lo promote the furtherance of the Christian faith and support the development of young people. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES The management of the company is the responsibility of the Trustees who are elected and ¢o-OPted under the terms of the ACleS of Association. As the need arises the existing trustees Mfjll continue to identify potential candidates from the active church members based on their involvement and skills. Many church members take responsibility for activitie5 or project5 in the church, and this gives us a pool of possible candidates wth known skills. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES Appropriate webinars and courses to improve and update trustee knoedge are highlighted to all trustees and feedback from those attending is shared Mqth the whole group. ORGANISATIONAL STRUCTURE AND DECISION MAKING The management of the company is the responsibility of the Trustees are elected and co-opted under the terms of the Articles of Ass(latiOn. The board of Irustees meets al least 9 limes a year and meetings include a ffinanal update, development eonsideralions and any other significant decisions. At the AGM in September Knut Haukelidsaeter retired as a trustee. OBJECTIVES AND ACTIVITIES ACTIVITIES FOR ACHIEVING OBJECTIVES The trustees have paid due regard to the Charity Commission's guidance on public benefit and strongly believe that holding Christian services and other activities detailed in this report provide public benefit. Individuals are taught to feel Tesponsible lo contiibule lo the welfare of society, to respect the authorities in the country, and to show genuine care for their neighbours and the environment. Page 2
VrbJJkgunurvTrarwoCbc Ref. 8JPXH3&4GQK 27 Sep 2022 10..41..38 BSTIUTC 411 D111 P sr27 BRUNSTAD CHRISTIAN CHURCH DIDCOT {A company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 The charity holds regular Christian meetings, and arrange the following activities aimed at speafic groups.. Two Sunday School groups for 4-7 and 8-12 year old5 Weekly youth meeting for 13-36 year olds Bible studies for hveens Sport I leisure time activities {13-25 years) Fc)tball training14-12 years} Weekly activities ctub18-11 years and 12-18 years) Encourage creative arts using music and drama script writing and productÉon. Develop leadership and management skills by i01vement in and planning of church events and activities We contribute financially to intemats'onal missionary work and SUPF)Ort a multilingual Chiislian website {ww.acts'vechristianity.org} both finanaally and by contributing conlenl. We have decided that il is more effective to support this global resource than maintain Olsr own local web presence. Several of our members have contributed content to the site, either in written fonm or as video inleNiews. Several of our members also volunteer their time to provide English subtitling and dubbing on the Brunstad TV channel. enabling English speaking people around the worfd lo access the content. ACHIEVEMENTS AND PERFORMANCE REVIEW OF ACTIVITIES In 2021 a range of improvements have been made to the property. Renovation work was completed in the upslairs youth room. Ihe end field was levelled and drainage ditches Installed to solve the issue of flLK)ding after heavy rain. Due to Covid restrictions meetings and events were held online for the start of 2021. The children were able to follow along wth online meetings and bible stories broadcast on the Brunstad TV channel. Our media team were involved in Iranslaling and dubbing the content of the channel from NopNegian so that English speaking children all over the worfd could watch and listen to content in English. Youth meetings are held weekly for 13-36-year-olds. and many were held online during the lockdowns. The regular activities clubs continue on a Tuesday evening for 8-11-year-olds, whilst the 12-18-year-olds are also provided wth a variety of activities and given the opportunity to develop a range of skills ranging from maintenance lo media and event planning. The charity carried out a range of other activities during the period for those attending Ihe church, wthin the covid restrictions. Our youth group participated in a TV based bible study during the Spring of 2021. Due lo travel and Covid restrictions, 3 of the 4 seasonal youth camps were either held locally. or online Iwlhin homes during lockdownl and were able to travel to the Autumn camp in Norway. A broad range of activities were aanged during the day, and in the evening, bible studies, meetings and other events were held. The trading subsidiary TCD had another quiet year due to the impact of covid-19 on the hospitalty industry. although did see an improvement compared to 2020. TCD Business donated £19.654 {2020: £5,488). FINANCIAL REVIEW We closed the year with net assets of £1,283k {2020-. £1,342k) having raised £378k {2020= £282kl during the year, in addition lo spending £437k12020-. £358k) on charitable activities and governance costs. The increase in income was mainly due to interest received on the charitable investment and a record collection towards missionary work. The increase in spending was split across more meetings and event5 over the summer perio when covid restrFCtions were relaxed. plus increased donations to missionary work and other propety costs. Page 3
VrbJJkgun*urvTrarwoCbc Ref. 8JPXH3&4GQK 27 Sep 2022 10..41..39 BSTIUTC 411 D111 P6r27 BRUNSTAD CHRISTIAN CHURCH DIDCOT {A company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 PRINCIPAL RISKS AND UNCERTAINTIES The trustees have evaluated the risks fang the charity and these fall into main areas, financial and people. Raising SLrffiuent income lo meet our operating costs, and to maintain a sound financial basis for expected fiJture groMI(h is a key risk_ Our income regularty exceeds our expectations, we have a significant cash balance, and the members of the charity continue to be highly engaged in our mission, so this risk is currently considered to be low. On the people side, much of our activity is focussed on children and young people, and therefore we face the same risks as every olher organisalion that provides servi5 to those groups. We manage this risk through a Child Proteclion Prcgram including enhanced DBS checks and regular training. This risk is cuffently considered to be low. RESERVES POLICY We would nomially aim to hold £20.000 for emergency spend and a further £20.000 to cover seasonal fluctuations in our current account. Amounts for use over a longer lime frame are moved to interest bearing accounts. During the year £64,470 {2020'. £41,950} of reserves was invested in improvements to our propety and other fixed assets. Our policy is to build Teseryes sufficient lo allow us to develop facilities which wqll further our objectives over a horizon of at least trNenty years and to reduce our reliance on debt funding. We ideally plan to take a maximum of 50% debt funding for building projects. CUentlY we are pafvay through the saving cycle and therefore have funds 12021.. £1,141,979 and 2020: £1,166,263) saved for future development and projects. We antipate this to be used in= small and medium development projects in the short to medium temi12022-2026) major development at our main premises, Garden House, currently expected to start in 2027. donating funds to charitable projects being carried out by like-minded organisations which further our objectives. We held funds for this purpose at the yearend in order to support specffic projects as the need arises. Our preference is to adopt a social investment approach to the reserves in order to apply them for aligned charitable purposes until such time as we need to Use them. This is covered in more detail in the next Section. INVESTMENTS POLICY As our reserves policy noted above has involved us holding snleant fijnds careful consideration has been given to our investment policy. Our policy is to seek to hold our fvnds in a combination of= interest-bearing cash accounts as a low risk and accessible fund5 (2021.. £386.462 and 2020.. £432,784) low to moderale risk charitable investment {NOK 1 Om loan with an interest rate of 5%} TRUSTEES. RESPONSIBILITIES STATEMENT The Trustees (who are also directors of Brunstad Christian Church Didcot for the purposes of company lawl are responsible for preparing the Trustees. Report and the finanaal statements in accordance wth applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare ffinaneial statements for each financial year. Under company law the Trustees musl not approve the financial statement5 unless they are satisfied that they give a true arKI 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 lo= Page 4
VkiuaBunatLnTrarffjxlvM Ref. 8JP51HJJ4GIJ(27 Sep 2022 10..41..39 BST (UTC +11 D111 P 7r2Y BRUNSTAD CHRISTIAN CHURCH DIDCOT (A company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 select suitable accounting policies and then apply them consistenty., observe the methods and principles in the Charities Statement of Recommended Practice.. make judgments and accounting estimates that are reasonable and prudent,. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitsble company will continue in operation. The Trustees are responsible for keeping adequate acL¥Junting records that are sufficient to show and explain the charitsble company's transactions and disclose viith reasonable accuracy al any lime 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. Approved by order of the member5 of the board of Trustees and signed on their behalf by.. Mr Paul Heaven Trustee Dale= 27 September 2022 Page 5
VrbJJkgun*urvTrarwoCbc Ref. 8JPXH3&4GQK 27 Sep 2022 10..41..39 BSTIUTC 411 D111 P 8r27 BRUNSTAD CHRISTIAN CHURCH DIDCOT {A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 Independent Examiners Report to the Trustoes of Brunstad Christian Church Didcot I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 December 2021. Rosponsibilities and Basis of Report As the Tru5tee5 of the Compally land its directors for the purposes of company law} you are responsible for the preparation of the accounts in accordance wth the requirements ofthe Companies Act 20061'the 2006 Art). Having satisfied myself that the accounts of the Ccrnpany are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examinaliDn, I report in respect of my examination of the Companls accounts carried out under section 145 of the CharitEs Act 2011 1.the 2011 Act'l. In carrwng out my examination I have followed the Directions given by the Charity Commission under sects'on 14515Kb} of the 2011 Act. Independent Examineffs Statement Since the Companys gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualtfied to undertake the examination because l am a member of lftstitute of Chartered Accountsnts in England and Wales. which is one of the listed bodies. I have completed my examination. I confirm that no matters have Gome to my attention in GonneGtion with the examination giving me cause lo believe- accounting records were nol kept in respect of the Company as required by section 386 of the 2006 Art or the accounts do not accord with those records" or the accounls do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement thal the accounts give a Irue and fairf view which is not a matter considered as part of an independent examination.. or the accounts have not been prepared in accordance wsth the methods and principles of the Statement of Recommended Practice for accounting and repong by charities applicable lo charities preparing their accounts in accordance with the Financ¢al Reporting Standard applicable in the UK and Republic of Ireland IFRS 102). I have no concems and have come across no other matters in connection wth the examination to lch attention should be drawn in this report in order to enable a proper Ltnderstanding of the accounts to be reached. Page 6
VrbJJkgun*urvTrarwoCbc Ref. 8JPXH3&4GQK 27 Sep 2022 10..41.'40 BSTIUTC 411 D111 P gr27 BRUNSTAD CHRISTIAN CHURCH DIDCOT {A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 This report is made solely to the Companls Trustees, as a body, in accordance with Part 4 of the Charities {Accounts and Reports) Regulations 2008. My work has been undertaken so that I might stale to the Compan¥s Trustees those matters l am required to state to them in an Independent examinerfs repK)rt and for no other purpose. To the fullest extent pemiitted by law, I do not accept or assume responsibility to anyone other than the Cotnpany and the Conipan/5 Tiustee5 a5 a body. for tny work or for Ihi5 report. Signed: P. Dated= 3 October 2022 Mr Alexander Peal Bsc {Honsl FCA DChA James Cowper Kreston Chartered Accountants and Slatutory Auditor Reading Bridge House George Street Reading Berkshire RG18LS Page 7
VrbJJkgun*urvTrarwoCbc Ref. 8JPXH3&4GQK 27 Sep 2022 10..41'.40 BSTIUTC 411 D111 P 10127 BRUNSTAD CHRISTIAN CHURCH DIDCOT {A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2021 Restricted Unrestricted funds funds 2021 2021 Total funds 2021 Total funds 2020 Note Income from: Donations and legacies other trading actimlies Investments Other income 225.355 73.116 51,717 27,801 225,355 73,116 51,717 27,801 203,651 74,477 776 3.407 Total income 377.989 377,989 282.311 Expenditure on: Charitable activities 429,346 7,788 429,346 7,788 348,96S 9,402 Other expenditure Total oxpenditure 437.134 437,134 358.367 Net rnovem8nt in funds 159.Id5) {59.1451 178.056) Reconciliation of funds: Total funds brought forward Net movement in funds 740,707 601,509 159.145) 1,342,216 {59,1451 1.418,272 176,056) Total funds carried forward 740,707 542.364 1,283,071 1,342.216 The notes on pages 12 to 25 fom part of these financial ststements. Page 8
VrbJJkgun*urvTrarwoCbc Ref. 8JPXH3&4GQK 27 Sep 2022 10..41.'41 BSTIUTC 411 D111 P 11127 BRUNSTAD CHRISTIAN CHURCH DIDCOT {A company limited by guarantee) REGISTERED NUMBER: 06739587 BALANCE SHEET AS AT 31 DECEMBER 2021 2021 2020 Note Fixed assets Tangible assets Investments 262,461 839,278 336,123 839,278 12 1,101.739 1.175,401 Current assets Debtors 13 78,936 386,462 30,913 432,784 Cash at bank and in hand 465,398 463,697 Creditor5.' amounts falling due wthin one year 14 (74,9181 152,8311 Net current assets 390,480 410.866 Total assets less current liabilities 1,492,219 1,586,267 Creditors= amourrts falling due after more than one year 15 (209,148) 1244,051) Total net assets 1,283,071 1,342,216 Charity funds Restricted funds 16 740.707 542,364 740,707 601,509 Unrestricted funds 16 Total funds 1,283,071 1,342.216 The Company was entrtled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees a¢knOedge their responsibilits'es for complwng with the requirements of the Act wth respect to accounting records and preparation of financial stalements. The financial ststemenls have been prepared in accordance with the Provisions applicable to entities subject to the small companies regime. Page 9
VkiuaBunatLnTrarffjxlvM Ref. 8JP51HJJ4GIJ(27 Sep 2022 10..41'.41 8ST (UTC +11 D111 P 12127 BRUNSTAD CHRISTIAN CHURCH DIDCOT (A company limited by guarantee) REGISTERED NUMBER: 06739587 BALANCE SHEET ICONTINUEDI AS AT 31 DECEMBER 2021 The financÈal statements were approved and authorised for iswe by the Trustees and signed on their behalf by.. Mr Paul Heaven Trustee Dale= 27 September 2022 The notes on pages 12 to 25 fomi part of these financial statements. Page 10
VrbJJkgun*urvTrarwoCbc Ref. 8JPXH3&4GQK 27 Sep 2022 10..41'.41 BSTIUTC 411 D111 P 12127 BRUNSTAD CHRISTIAN CHURCH DIDCOT {A company limited by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2021 2021 2020 Cash flows from operating activitios Nel cash used in operating activities 44,845 ,854 Cash flows from investing activities Dividends, interests and rents from investments Proceed5 from the sale of tangible fixed asset5 Purchase of tangible fixed a5setS Purchase of investments 4,683 2.810 164,470) 776 141,950) 1839.272) Not cash used in investing activitios 156,977} 1880.4461 Cash flows from financing activities Repayments of borrowng 134,190) 133,612) Nei cash used in financing activitias 134,190) 133,6121 Change in cash and cash equivalents in the year 146.322) 1857.2041 Cash and cash equivalents at the beginning of the year 432,784 1,289,988 Cash and cash equivalents al the end of the year 386,462 432,784 The notes on pages 12 to 25 fomi part of these financial statements Page 11
VrbJJkgunurvTrarwoCbc Ref. 8JPXH3&4GQK 27 Sep 2022 10..41'.42 BSTIUTC 411 D111 P 14127 BRUNSTAD CHRISTIAN CHURCH DIDCOT {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accounting polieies 1.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP {FRS 1021 Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 leffeclive 1 January 2019}, the Finanaal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. BNnstad Christian Church Didcot meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless othernise stated in the relevant accounting policy. 1.2 Company status The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. 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 General funds are unreslricled fvnds which are available for use at the discretion of the Trustees in furthe4an of Lhe general objectives of tlie Coinpaiiy and Nvliith have not beeii designated for oUi purposes. Designated funds comprise unrestricted funds that have en sel aside by the TNstees for particular purposes. The aim and use of each designated fund is sel out in the notes to the financial statements. Restrtcted funds are fvnds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged again51 the specific fund. The aim and use of each restricled fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. 1.4 Income All income is recognised once the Company has entrf(lement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. For legae5, entiuement is taken as the earlier of Ihe date on whith either". the Company is aware that probate has been granted, the estate has been finalised and notification has been made by the execulorls) to the Trust that a distribution will be made. or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can measured reliably and the company has been notsfied of the executorfs intention to make a distribution. Where legacies have been notified to the company. or the company is aware of the granting of probate. and the criteria for income recognition have not been met. then the legacy is treated as a contingent asset and disclosed rf materÉal. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donaticn. Income lax recoverable in relatron to investment income is recognised at the time the investment income is receivable. Page 12
VrbJJkgun*urvTrarwoCbc Ref. 8JPXH3&4GQK 27 Sep 2022 10..41'.42 BSTIUTC 411 D111 P 1&27 BRUNSTAD CHRISTIAN CHURCH DIDCOT {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accounting polieies {continuodl 1.5 Expenditure Expenditure is recognised once there is a legal Of constructive obligation to make payments to a third party. it is probable that settlemetrt will be required and the atnouTrt of the obligation Gan measur reliably. AJI expenditure 15 accounted on an accruals basi5. AJI expense5 including suppjrt Costs and governan cost5 are allocated to the applicable expenditure headings. Charitable activities and Governance costs are costs incurred on the compan$ educakn.onal operations, including support costs and costs relating to the govemance of the company apportioned to charitable activitr"es. All expenditure is inclusive of IeCoVerab VAT. 1.6 Tangible fixed assets and depreciation Tangible fixed assels costing £1000 or more are capitalised. Tangible fixed assets are initially recryJni5ed at cost. After recognition. under the cost model, tangible fixed a5set5 are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs inCL[ed to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocatè the cost of tangible fixed assets less their residual value over their estimated useful lives, Depreciation is provided on the following bases: Land and buildings Plant and machinery Fixtures and fittÈngs Equipment Other fixed assels 10% straight line 33% straight line 33% straight line 33% straight line 10% & 33fr1fr straight line 1.7 Invostments Investments are a fom of basic financial inslTument and are initially reeognised at their transaction value and Subsequently measured al fair value as at the balance sheet dale, using the dosing quoted market price. Investment gains and losses. whether realised or unrealised, are combined and shown in the heading 'GairksII105se51 on investments, in the SLitement of Financial Activities incorporating income and expenditure account. 1.8 Foreign currencies Monetary assets and liabilities denominated in foreign currencies are translated into sterting at rates of exchange ruling at the balance sheet date. Transactions in fOIgn Cufrencies are translated into sterfing at the rale ruling on the dale of the transacts'on. Exchange gains and losses are reccgnised in the Statement of Financial Activities inc(¥porating income and expenditure account. Page 13
VrbJJkgun*urvTrarwoCbc Ref. 8JPXH3&4GQK 27 Sep 2022 10..41'.43 BSTIUTC 411 D111 P 1e427 BRUNSTAD CHRISTIAN CHURCH DIDCOT {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accounting polieies {continuodl 1.9 Interest ro¢eivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Cotnpany," this 15 nornially uwn notifiGation of the interest paid or payable by the institution with whom the funds are deposited. 1.10 Debtor5 Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued al the amount prepaid nel of any trade discounts due. 1.11 Cash at bank and in hand Cash at bank and in hand indudes cash and SIrt-tem1 highly liquid investrnents Mqlh a short maturity of three monlhs or less from the date of acquisilion or opening of the deFx)sit or similar account. 1.12 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it 15 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 wll pay to settle the debt or the amount it has received as advanced payments for the goods or seNices r( musl provide. 1.13 Financial instrurnents The Cornpany only has financial assets and finanaal liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised al transaction value and subsequenlty measured at their settlement value wth the exception of bank loans which are subsequenty measured at amortised cost using the effective interest method. Critical accounting estimates and areas of judgment The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts rewrted for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The followng judgement5 (apart from those involving estimates} have had the most significant effect on amounts recognised in the financial statement5. Critical accounting estimates and assumptions.. Tangible fixed assets (see note 11} Tangible fixed assets are deprated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Residual value assessments consider issues such as the remaining life of the asset and projected disposal values. Page 14
VrbJJkgun*urvTrarwoCbc Ref. 8JPXH3&4GQK 27 Sep 2022 10..41.'43 BSTIUTC 411 D111 P 17127 BRUNSTAD CHRISTIAN CHURCH DIDCOT {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Ineoma from donations and legacies Unrestricied funds 2021 Total funds 2021 Total funds 2020 Donations including gfft aid TCD Business 205.701 19,654 205.701 19.654 198.163 5.488 225,355 225.355 203,651 Total 2020 203,651 203,651 Income frorn other trading activities Income frorn fundraising events Unrestricted funds 2021 Total funds 2021 Total funds 2020 Short term rental income Lctal events and activities 3,875 68,101 1.140 3.875 68.101 1.140 1.200 66.732 1.045 5.500 Christian resources Other 73,116 73,116 74,477 Total 2020 74.477 74,477 Page 15
VrbJJkgun*urvTrarwoCbc Ref. 8JPXH3&4GQK 27 Sep 2022 10..41.'44 BSTIUTC 411 D111 P 18127 BRUNSTAD CHRISTIAN CHURCH DIDCOT {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Investmenl income Unrestricied funds 2021 Total funds 2021 Total funds 2020 Investment income 46,146 5,571 46.146 5.571 Bank interest 776 51,717 51,717 776 Total 2020 776 776 Other incoming rosources Unrestricied funds 2021 Total funds 2021 Total funds 2020 Other initiatives 27.801 27,801 3,407 Total 2020 3,407 3,407 Analysis of oxponditure on charitable activities Summary by fund typo Restricted Unrestricted funds funds 2021 2021 Total funds 2021 Total funds 2020 Direct Costs Governance costs 424.673 4,673 424.673 4.673 345.515 3.450 429,346 429.346 348.965 Total 2020 11,159 337,806 348,965 Page 16
VrbJJkgun*urvTrarwoCbc Ref. 8JPXH3&4GQK 27 Sep 2022 10..41.'44 BSTIUTC 411 D111 P 19127 BRUNSTAD CHRISTIAN CHURCH DIDCOT {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Other axpendituro Unrestricied funds 2021 Total funds 2021 Total funds 2020 Mortgage interest 7,788 7.788 9.402 Total 2020 9,402 9,402 Analysis of oxpenditure by activitias Activities undertaken directly 2021 Support costs 2021 Total funds 2021 Total funds 2020 Direct C051s 424,673 424.673 4.673 345,515 3.450 Governance costs 4,673 424,673 4,673 429,346 348,965 Total 2020 345,515 3,450 348,965 Page 17
VrbJJkgun*urvTrarwoCbc Ref. 8JPXH3&4GQK 27 Sep 2022 10..41.'44 BSTIUTC 411 D111 P 20127 BRUNSTAD CHRISTIAN CHURCH DIDCOT {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Analysis of oxponditure by activities (continued) Analysis of direct cosis Total funds 2021 Total funds 2020 Activities 2021 Meeting5 and Event5 Donation lo Brunstsd NOaY Cost of literature 121.514 121.514 92.125 11.159 1.383 66,729 38,701 384 3,571 583 2.956 127.924 Missionary fund donations Premises costs 97,636 60,167 22 6,761 3,251 97.636 60,167 22 6.761 3.251 Bank charges Computer and internet expense5 Postage. ststionary and telephone Other Depreciation of equipment & property Gain on disposal of fixed assets 135,478 11561 135.478 1156) 424,673 424.673 345.515 Total 2020 345,515 345,515 Analysis of support costs Total funds 2021 Total funds 2020 Activitie5 2021 Travel costs 1.636 301 2.736 1,636 301 2.736 315 Subscriptions Independent examiners fees 435 2.700 4,673 4,673 3,450 Total 2020 3,450 3,450 Page 18
VrbJJkgun*urvTrarwoCbc Ref. 8JPXH3&4GQK 27 Sep 2022 10..41.'45 BSTIUTC 411 D111 P 21127 BRUNSTAD CHRISTIAN CHURCH DIDCOT {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 10. Indepandent examinarfs remuneration 2021 2020 Fees payable to the Companys independent examiner for the independerrt examlnatlon of the Companys annual accounts 2.010 1,900 Fees payable to the CoMpanS independent examiner in respect of: Preparation of the Companls annual accounts 870 11. Tangible fixed assets Freehold property Plant and rnachinery Office equipment Other fixed assets Total Cost or valuation At 1 January 2021 Additions Dispo3al3 825,720 48.743 3,923 12,810) 32,157 22,786 283.938 37,761 1.190,558 64,470 12,8101 At 31 December 2021 825.720 49.856 321.699 1.252,218 Deprociation At 1 January 2021 Charge for the year On disposals 619.254 82.572 17.546 9.953 1156) 18.031 10.097 199.604 32.856 854.435 135,478 11561 At 31 December 2021 701,826 27,343 28,128 232,460 989,757 Net book value At 31 December 2021 123,894 22.513 26.815 89.239 262.461 At 31 December 2020 206,466 31,197 14,126 84.334 336,123 Page 19
VrbJJkgun*urvTrarwoCbc Ref. 8JPXH3&4GQK 27 Sep 2022 10..41.'45 BSTIUTC 411 D111 P 22127 BRUNSTAD CHRISTIAN CHURCH DIDCOT {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 12. Fixed asset investments Investments in subsidiary Unlisted companles Investmenis Total Cost or valuation At 1 January 2021 839.272 839.278 At 31 December 2021 839.272 839.278 Principal subsidiarios The foilowng were subsidiary undertakings ofthe Company.. Nam85 Company number Holding TCD Business Limited Oxfordshire Enterprises Limited GH Travel Limited 06451996 07360963 09410676 100°/0 100% 100% The finanaal results of the subsidiaries for the year were: Names Aggregate ofshare capital and reSe8S TCD Business Limited Oxfordshire Enterprises Limited GH Travel Limited Al three subsidiaries had a profrt and loss balance of £nil in the year wth GH Travel Limrted and Oxfordshire Enterprises Limited being domianl in the year. 13. Debtors 2021 2020 Trade debtors 6.638 6.654 65,644 3.238 1.444 26,231 Amounts owed by group undertakings PrepayTnents and accrued income 78,936 30,913 Page 20
VrbJJkgun*urvTrarwoCbc Ref. 8JPXH3&4GQK 27 Sep 2022 10..41..46 BSTIUTC 411 D111 P 22127 BRUNSTAD CHRISTIAN CHURCH DIDCOT {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 14. Craditors: Amounts falling due wilhin one year 2021 2020 Bank loans Trade creditors Amounts owed to group undertakings other creditors AccNals and deferred income 34,079 17.766 33,366 1.017 4.573 18.498 6,692 11.754 74,918 52,831 15. Creditors: Amounts falling due after more than ono year 2021 2020 Bank loans 209.148 244,051 The aggregate amount of liabilities payable or repayable wholly or in part more than five years after the reporting date is.. 2021 2020 Repayable by instalments 41.680 72,979 41.680 72,979 The loan is for a mortgage secured over the propety purchased during the 2013. Repayments on the loan have begun wth interest being paid al the base rate plus 2.95%. Page 21
VrbJJkgun*urvTrarwoCbc Ref. 8JPXH3&4GQK 27 Sep 2022 10..41..46 BSTIUTC 411 D111 P 24127 BRUNSTAD CHRISTIAN CHURCH DIDCOT {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 16. stsiemeni of funds Staiement of funds - Current year Balanee at 31 Deeember 2021 Balanca at 1 January 2021 Incomo Exponditura Unrestricted funds Designated funds Designated Funds- all funds 425,556 124.283) 401.273 General funds General Funds- all funds 175,953 377.989 (412.851) 141,091 Total Unrestricted funds 601,509 377.989 (437.134) 542.364 Rgstrictod funds Restricted Funds- all funds 740,707 740,707 Total of funds 1.342,216 377.989 (437.134) 1.283.071 Page 22
VrbJJkgun*urvTrarwoCbc Ref. 8JPXH3&4GQK 27 Sep 2022 10..41.'47 BSTIUTC 411 D111 P 27 BRUNSTAD CHRISTIAN CHURCH DIDCOT {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 16. stsiemeni of funds {continuad) Staiement of funds - prior year Balance at 31 December 2020 Balance at 1 January 2020 Income Expenditure Unrestricted funds Designated funds Designated Funds 425.556 425.556 General funds General Funds 240,850 282,311 1347,2081 175,953 Total Unrestricted funds 666,406 282.311 (347,2081 601.509 Rostrictod funds Restricted Funds 751,866 111,1591 740,707 Total of funds 1,418,272 282,311 1358,3671 1,342,216 17. Analysis of net assets between ndS Analysis of net assets botwean funds- currant yoar Restricted Unrestricted funds funds 2021 2021 Total funds 2021 Tangible fixed assets Fixed asset investments 262,461 839,278 1275.3091 174,9181 1209,1481 262,461 839,278 465.398 174,9181 1209.1481 Current assets 740.707 Creditors due wtthin one year Creditors due in more than one year Total 740,707 542,364 1.283,071 Page 23
VrbJJkgun*urvTrarwoCbc Ref. 8JPXH3&4GQK 27 Sep 2022 10..41.'47 BSTIUTC 411 D111 P 2e427 BRUNSTAD CHRISTIAN CHURCH DIDCOT {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 17. Analysis of nei assets between ndS Iconiinued) Analysis of net assats betwaan fun(ts - prior year Restricted Unreslricted fund5 funds 2020 2020 Total funds 2020 Tangible fixed assets Fixed asset investments 336.123 839.278 (277.0101 152,8311 1244,0511 336,123 839,278 463.697 152.831) 1244.051) Current assets Creditors due thin one year Creditors due in more than one year 740,707 Total 740,707 601,509 1,342,216 18. Reconciliation of not movement in funds to net cash flow from operating activities 2021 2020 Net expenditure for the year las per Statement of Financial Activities) 159,145) 176,056) Adjustments for". Depreciation charges Dividends. interests and rents from investments Decreasel{increasel in debtors Increaselldecreasel in creditors 135.322 146.180) (3,043) 17,891 127.924 1776) 21,713 115,9511 Net cash provided by operating activities 44,845 56,854 19. Analysis of cash and cash equivalents 2021 2020 Cash in hand 386,462 432,784 Total cash and cash equivalents 386,462 432,784 Page 24
VrbJJkgun*urvTrarwoCbc Ref. 8JPXH3&4GQK 27 Sep 2022 10..41'.47 BSTIUTC 411 D111 P 27127 BRUNSTAD CHRISTIAN CHURCH DIDCOT {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 20. Analysis of changes in net debt At31 Docember 2021 January 2021 Cash flows Cash at bank and in hand 432,784 133,366) (244.051) 146,322) 1713) 34.903 386,462 134,0791 1209.1481 Debt due wthin 1 year Debt due after 1 year 155.367 112.132} 143.235 21. Related party transactions In common wqth many Church organisalions, trustees make a significant financial contribution lo the charity. These donations are made as part of normal giving by Church members and it would not be practical to quantlfy the amount donated. Brun5tad Christian Church Didcot IBCCDI has a wholly owned trading subsidiary TCD Business Limited which made donations of £19,654 12020.. £5.4881 to the charitable company in the current accounting period. Al the year end BCCD was owed £6.65412020'. £1,466) by TCD Business Limited. BCCD has a wholly owned trading subsidiary Oxfordshire Enterprises knmited. At the year end BCCD was owed £2 {2020'. £21. Controlling party The ultimate controlling party is the Board of Trustee5 a5 detailed on page 1 of the financial statement5. Page 25