Virtualsigrhalure Transaction Rel. T38C-QD57.Q9AP 27 Sep 2023 09.40.36 8ST IUTC *110 111 P 1127 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 2022
Virtualsigrhalure Transaction Rel. T38C-QD57.Q9AP 27 Sep 2023 09.40.36 8ST IUTC *110 111 P 2127 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) CONTENTS Page Refgrgncg and administrativa dgtails of the charityi its Trustegs and advisgrs Trustees. report Independent examiner's report Statement of financlal actlvltles Balance sheet 9-10 Statement of cash flows Notes to the financial statements 12-25
Virtualsigrhalure Transaction Rel. T38C-QD57.Q9AP 27 Sep 2023 09.40.36 8ST IUTC *110 111 P &127 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022 Trustees Ms Gro Jacobs (resigned 22 February 20231 Ms Linda Heaven Mr Louis Peter Van As lappoinled 22 February 20231 Mr Paul Heaven Ms Lucy Savage Company registered number 06739587 Charity registered number 1128133 Registered office Garden House, Mihon Hill, Steventon, Abingdon, Oxfordshire, OX13 6AF Chief executive officer David Heaven Accountants James Cowper Kreslon, Reading Bridge House, George Street, Reading, Berkshire, RG18LS Bankers HSBC, 186 Broadway, Didcot. Oxfordshire, OX11 8RP Page 1
Virtualsigrhalure Transaction Rel. T38C-QD57.Q9AP 27 Sep 2023 09.40.36 8ST IUTC *110 111 P 4127 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 The Trustees Iwho are also directors of the charity for the purposes of the Companies Act) present their annual report together with the financial statements of Brunstad Christian Church Didcol Ilhe company) for the year ended 31 December 2022. The Trustees confirm that the Annual report and financial statements of the company comply with the current statutory requirements, the requirements of the companls governing document and the provisions of the Statement of Recommended Practice ISORPI, applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20191. Since the company qualifies as small under section 383, the strategic report reqLJired of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required. STRUCTURE, GOVERNANCE AND MANAGEMENT CONSTITUTION The company is registered as a charitable company limited by guarantee and was sel up by a Memorandum of Association on 3 November 2008. The Articles of Association were updated in December 2011 to reflect the latest guidelines and to provide that voting of the board should be unanimous where not specified otherwise by the companies acts. The company is conslitLJted under a Memorandum of Association dated 3 November 2008 and is a registered charity number 1128133. The principal object of the company is to 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 co-opted under the terms of the Articles of Association. As the need arises the existing Iruslees will continue to identify potential candidates from the active church members based on their involvement and skills. Many church members take responsibility for activities or projects in the church, and this gives us a pool of possible candidates with known skills. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES Appropriate webinars and courses to improve and update trustee knowledge are highlighted to all Iruslees and feedback from those attending is shared with the whole group. ORGANISATIONAL STRUCTURE AND DECISION MAKING The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association. The board of trustees meets al least 9 limes a year and meetings include a financial update, development considerations and any other significant decisions. At the AGM in September, Lucy Savage retired as a trustee by rotation in accordance with the articles and offered themselves for reappointment, which was unanimously approved. On 22 February 2023, Gro Jacobs resigned as Iruslee, and Louis Van As was appointed as trustee. OBJECTIVES AND ACTIVITIES ACTIVITIES FOR ACHIEVING OBJECTIVES The trustees have paid due regard lo 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 laughl to feel responsible to contribute to the welfare of society, to respect the authorities in the country, and lo show genuine care for their neighbours and the environment. Page 2
Virtualsigrhalure Transaction Rel. T38C-QD57.Q9AP 27 Sep 2023 09.40.36 8ST IUTC *110 111 P &127 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 The charity holds regular Christian meetings, and arrange the following activities aimed al specific groups.. Three Sunday School groups for 3-5, 6-8 and 9-11 year olds Bible studies for tweens Weekly youth meeting for 13-36 year olds Sport I leisure lime activities113-25 years) Footb811 Iraining14-12 years) Weekly activities club18-11 years and 12-18 years) Contributed with acting, directing, script writing, dubbing and translating of Christian media conlenl Develop leadership and management skills by involvement in and planning of church events and activities We contribute financially to international missionary work and support a multilingual Christian website Iww.aclivechrislianity.orgl both financially and by conlribuling content. We have decided that it is more effective lo support this global resource than maintain our own local web presence. Several of our members have contributed conlenl lo the site, either in written form or as video interviews. Several of our members also volunteer their lime lo provide English sublilling and dubbing on the Brunslad TV channel, enabling English speaking people around the world lo access the content. ACHIEVEMENTS AND PERFORMANCE REVIEW OF ACTIVITIES In 2022 there were no significant improvements lo the property. Regular general meetings are held on Sundays with three concurrent children's meetings held alongside. Youth meetings are held weekly for 13-36-year-olds. The regular activities clubs continue on a Tuesday evening for 8-11-year-olds, whilst the 12-18-year-olds are also provided with a variety of activities and given the opportunity to develop a range of skills ranging from maintenance lo media and event planning. Our media team continues lo be involved in Iranslaling and dubbing the conlenl of the channel from Norwegian so that English speakers all over the wodd can watch and listen lo conlenl in English. Our youth group participated in a TV based bible study during the Spring of 2022. This included bela lesling a new bible themed video game developed by BCC Media, which we had also been involved in dubbing. Many of the youth group also travelled to Norway for four Christian International Youth Activity camps held throughout the year. The camps offer young people allending from all over the world a broad range of activities during the day and brings them together in the evenings for interesting bible studies, meetings and other events aimed at edification and building fellowship. The trading subsidiary TCD saw a recovery in business activity following a few quiet years impacted by covid-19. TCD Business donated £53,82412021'. £19,654). FINANCIAL REVIEW We closed the year with nel assets of £1,194k 12021.. £1,283kl having raised £516k {2021.' £378kl during the year, in addition to spending £605k12021.' £437kl on charitsble activities and governance costs. The increase in income was due lo increased donations, standing orders and increased business donations. The increase in spending was due lo an increase in events, aclivilies, property costs and increased donations to global missionary work. Page 3
Virtualsigrhalure Transaction Rel. T38C-QD57.Q9AP 27 Sep 2023 09.40.36 8ST IUTC *110 111 P &127 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 PRINCIPAL RISKS AND UNCERTAINTIES The trustees have evaluated the risks facing the charity and these fall into two main areas, financial and people. Raising sufficient income to meet our operating costs, and lo maintain a sound financial basis for expected future growth is a key risk. Our income regulady 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 lo 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 other organisalion that provides services lo those groups. We manage this risk through a Child Protection Program including enhanced DBS Checks and regular training. This risk is currently considered lo be low. RESERVES POLICY We would normally aim lo hold £20,000 for emergency spend and a further £20,000 lo cover seasonal fluclualions in our current account. Amounts for use over a longer lime frame are moved to interest bearing accounts. During the year £12,414 {2021.' £64,470) of reserves was invested in improvements to our property and other fixed assets. Our policy is to build reserves sufficient to allow us lo develop facilities which will further our objectives over a horizon of al least twenty years and lo reduce our reliance on debt funding. We ideally plan to take a maximum of 50Q/o debt funding for building projects. Currently we are partway through the saving cycle and therefore have funds 12022.. £1,141,979 and 2021= £1,141,979) saved for future development and projects. Vve anticipate this to be used in.. small and medium development projects in the short to medium term12023-20271 a major development al our main premises, Garden House, currently expected lo start in 2028. donating funds lo charitable projects being carried out by like-minded organisations which further our objectives. We held funds for this purpose al the year-end in order to support spectfic projects as the need arises. Our preferen is to adopt 8 SOCI81 investment approach lo the reserves in order to apply them for 81igned charitable purposes until such time as we need lo use them. This is covered in more detail in the next section. INVESTMENTS POLICY As our reserves policy noted above has involved us holding significant funds careful consideration has been given to our investment policy. Our policy is to seek to hold our funds in a combination of.. interesl-bearing cash accounts as a low risk and accessible funds12022.' £355,292 and 2021.. £386,462) low to moderate risk charitsble investment INOK 1 Om loan with an interest rale of 5 /01 TRUSTEES. RESPONSIBILITIES STATEMENT The Trustees (who are also directors of Brunslad Christian Church Didcol for the purposes of company lawl are responsible for preparing the Trustees. Report and the financial ststemenls in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees lo prepare financial slalements for each financial year. Under company law the Trustees musl not approve the financial statements unless they are satisfied that they give a true and fair view of the stsle 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 stslements, the Trustees are required to.. Page 4
Virtualsigrhalure Transaction Rel. T38C-QD57.Q9AP 27 Sep 2023 09.40.36 8ST IUTC *110 111 P 7127 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 select suitable accounting policies and then apply them consistently., 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 concem basis unless it is inappropriate lo presume that the charitable company will continue in operation. The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the charitable companls transactions and disclose with reasonable accuracy al 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. Approved by order of the members of the board of Trustees and signed on their behalf by.. Mr Paul Heaven ITrusleel Dale.. 27 September 2023 Page 5
Virtualsigrhalure Transaction Rel. T38C-QD57.Q9AP 27 Sep 2023 09.40.36 8ST IUTC *110 111 P &127 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 Independent Examiner's Raport to the Trustees of Brunstad Christian Church Didcot report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 December 2022. Responsibilities and Basis of Rgport As the Trustees of the Company land its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'the 2006 AcV}- 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 the Company's accounts carried out under section 145 of the Charities Act 2011 I'the 2011 Acl'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent Examiner's Statement Since the Company's gross income exceeded £250,000 your examiner musl be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of Institute of Chartered AccoLJntanls in England and Wales, which is one of the listed b(Idies. I have completed my examination. I confirm that no matters have come lo my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act., or the accounts do not accord with those records,. or 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 'lrue and faiv view which is not a maller considered as part of an independent examination- or 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 lo charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. 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 lo enable a proper understanding of the accounts to be reached. Page 6
Virtualsigrhalure Transaction Rel. T38C-QD57.Q9AP 27 Sep 2023 09.40.36 8ST IUTC *110 111 P 9127 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) INDEPENDENT EXAMINER'S REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 This report is made solely lo the Companls Trustees, as a body, in accordance with Part 4 of the Charities IAccounts and Reportsl Regulations 2008. My work has been undertaken so that I might stale to the Company's Trustees those matters l am required lo stale to them in an Independent examinerfs report and for no other purpose. To the fullest exlenl permitted by law, I do not accept or assume responsibility lo anyone other than the Company and the Company's Trustees as a body, for my work or for this report. Signed.. Mr Alexander Peal P, Dated.. 27 Septetnber 2023 Bsc (Honsl FCA DChA James Cowper Kre$ton Chartered Accountsnls and Statutory Auditor Reading Bridge House George Street Reading Berkshire RG18LS Page 7
Virtualsigrhalure Transaction Rel. T38C-QD57.Q9AP 27 Sep 2023 09.40.36 8ST IUTC *110 111 P 10127 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT} FOR THE YEAR ENDED 31 DECEMBER 2022 Restricted Unrestricted funds funds 2022 2022 Total funds 2022 Total funds 2021 Note Income from: Donations and legacies Other trading activities Investments Other income 318,310 91,864 42.902 63.235 318,310 91,864 42.902 63.235 225,355 73,116 51,717 27,801 Total income 516,311 516,311 377,989 Expenditure on: Charitable activities Other expenditure 595.388 9.781 595.388 9.781 429,346 7,788 Totsl expenditure 605.169 605.169 437,134 Net movement in funds 188.858) 188.858) 159,1451 Reconciliation of funds.. Total funds brought forward Nel movement in funds 740,707 542,364 188,8581 1,283,071 188,8581 1,342,216 159,1451 Total funds carrled fonvard 740.707 453.506 1,194.213 1,283,071 The notes on pages 12 to 25 form part of these financial statements. Page 8
Virtualsigrhalure Transaction Rel. T38C-QD57.Q9AP 27 Sep 2023 09.40.36 8ST IUTC *110 111 P 11127 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) REGISTERED NUMBER: 06739587 BALANCE SHEET AS AT 31 DECEMBER 2022 2022 2021 Note Fixed assets Tangible assets Investrnenls 11 12 136.098 839,278 262,461 839,278 975.376 1,101,739 Current assets Debtors Cash at bank and in hand 13 92,207 355,292 78,936 386,462 447.499 465,398 Creditors.. amounts falling due wthin one year 14 {50,2551 174,9181 Net current assets 397.244 390,480 Total assets less current1SabSlltles 1,372.620 1,492,219 Creditors.. amounts falling due after more than one year 15 {178,407) 1209,1481 Total net assets 1,194.213 1,283,071 Charity funds Reslri¢led funds Unrestricted funds 16 16 740.707 453.506 740,707 542,364 Total funds 1,194.213 1,283,071 The Company was entitled lo 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 acknowledge their responsibilities for complying with the requirements of the Act w(th respect lo accounting records and preparation of financial slalements. The financial statements have been prepared in accordance wth the provisions applicable to entities subject lo the small companies regime. Page 9
Virtualsigrhalure Transaction Rel. T38C-QD57.Q9AP 27 Sep 2023 09.40.36 8ST IUTC *110 111 P 12127 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) REGISTERED NUMBER: 06739587 BALANCE SHEET ICONTINUEDI AS AT 31 DECEMBER 2022 The financial statements were approved and aulhorised for issue by the Trustees and signed on their behalf by= P4ulWw8Tr27W2SoIDLL5TIUfC tll Mr Paul Heaven Trustee Dale.. 27 September 2023 The notes on pages 12 to 25 form part of these financial statements. Page 10
Virtualsigrhalure Transaction Rel. T38C-QD57.Q9AP 27 Sep 2023 09.40.36 8ST IUTC *110 111 P 13127 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022 2022 2021 Cash flows from operating activities Nel cash used in operating activities (30,9171 44,845 Cash flows from investing activities Dividends. interests and rents from investments Proceeds from the sale of tangible fixed assets Purchase of tangible fixed assets Purchase of investments 42,902 4,683 2,810 164,4701 (12,4141 Net cash provided byllused in) investing aetivities 30,488 156.977) Cash flows from financing activities Repayments of borrowing (30,7411 134,1901 Net cash used in financing activities 130,7411 134,1901 Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year (31,1701 386,462 146.322) 432,784 Cash and cash equivalents at the end of the year 355,292 386,462 The notes on pages 12 to 25 form part of these financial statements Page11
Virtualsigrhalure Transaction Rel. T38C-QD57.Q9AP 27 Sep 2023 09.40.36 8ST IUTC *110 111 P 14127 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting policias 1.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP IFRS 102) Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in 8c¢ordance with the Financial Reporting Standard 8ppIic8ble in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 2019}, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Brunstad Christian Church Didcot meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical Cost or transa¢lion value unless otherwise ststed 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 lo £10 per member of the company. 1.3 Fund accounting General funds are unrestricted funds which are available for use al the discretion of the Trustees in furtherance of the general objectives of the Company and which have not t)een designated for other purposes. Designated funds comprise unrestricted funds that have been sel aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance wlh specific reslriclions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted 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 entitlement to the income, il is probable that the income will be received and the amount of income receivable can be measured reliably. For leg8cies, entillemenl is taken as the earlier of the dale on which either.. the company is aware that probate has been granted, the eslale has been finalised and notification has been made by the executorlsl lo 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 p8rt, is only considered probable when the amount can be measured reliably and the company has been notified of the executorts 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 e0gnItiOn h8ve not been met, then the legacy is treated as a contingent asset and disclosed if material. Income lax recoverable in relation lo donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Income lax recoverable in relation lo investment income is recognised at the lime the investment income is receivable. Page 12
Virtualsigrhalure Transaction Rel. T38C-QD57.Q9AP 27 Sep 2023 09.40.36 8ST IUTC *110 111 P 15127 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting policias Icontinuodl 1.5 Exponditur8 Expenditure is recognised once there is a legal or constructive obligation lo make payments lo a third paty, it is probable that settlement wll be required and the amount of the obligation can measured reliably. l expenditure is accounted for on an accrLJals basis. All expenses including support costs and governance costs are allocated to the applicable expenditure headings. Charitable activities and Governance costs are costs incurred on the companls educational operations, including support costs and costs relating to the govemance of the company apportioned to charitable activities. l expenditure is inclusive of irrecoverable VAT. 1.6 Tangible fixed assets and depreciation Tangible fixed assets costing £1000 or more are capitalised. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured al cost less accumulated depreciation and any accumulated impairment losses. All costs incurred lo bring a tangible fixed asset into ils intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, Ljsing the straight-line method. Depreciation is provided on the followng bases.. Land and buildings Plant and machinery Fixtures and fittings Equipment Other fixed assets 1 OO/y slraighl line 33O/y slraighl line 33O/y slraighl line 33O/y slraighl line 100/. & 330/0 Straight line 1.7 Investments Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at fair value as at the balance sheet date, using the closing quoted market price. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading 'Gainslllossesl on investrnenls, in the Slalement of Financial Activities incorporating income and expenditure account. 1.8 Foreign currencies Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling al the balance sheet date. Transactions in foreign currencies are translated into sterfing at the rate ruling on the date of the transaction. Exchange gains and losses are recognised in the Statement of Financial Activities incorporating income and expenditure account. Page 13
Virtualsigrhalure Transaction Rel. T38C-QD57.Q9AP 27 Sep 2023 09.40.36 8ST IUTC *110 111 P 16127 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting policias Icontinuodl 1.9 Intgrost recaivabla Interest on fLJnds held on deposit is included when receivable and the amount can be measured reliably by the Company., this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 1.10 Debtors Trade and other debtors are recognised at the selllemenl amount after any trade discount offered. Prepayments are valued at the amount prepaid nel of any trade discounts due. 1.11 Cash at bank and in hand Cash at bank and in hand includes cash and short-lerm highly liquid investrnenls with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 1.12 Liabilities and provisions Liabilities are recognised when there is an obligation al the Balance sheet dale as a result of a past event, it is probable that a transfer of economic benefit wll be required in setllemenl, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Company anticipates il will pay to settle the debt or the amoLJnt it has received as advanced payments for the goods or services it musl provide. 1.13 Financial instruments The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured al their settlement valLJe with the exception of bank loans which are subsequently measLJred al amortised cost using the effective interest method. Critical accounting estimates and areas of judgment The preparation of the financial statements reqLJires management lo make judgements, estimates and assLJmplions that affect the amounts reported for assets and liabilities as al the balance sheet dale and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The followng judgements lapart from those involving estimalesl have had the most significant effect on amounts recognised in the financial statements. Critical accounting eslimales and assumptions.. Tangible fixed assets (see note 111 Tangible fixed assets are depreciated 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
Virtualsigrhalure Transaction Rel. T38C-QD57.Q9AP 27 Sep 2023 09.40.36 8ST IUTC *110 111 P 17127 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Income from donations and18gacios Unrestricted funds 2022 Total funds 2022 Total funds 2021 Donations including gift aid TCD Business 264,486 53,824 264,486 53,824 205,701 19,654 318,310 318,310 225,355 Total 2021 225,355 225,355 Income from other trading activities Income from fundraising events Unrestricted funds 2022 Total funds 2022 Total funds 2021 Short term rental income Local events and activities Christian resources 6,735 82,339 2,790 6,735 82,339 2,790 3,875 68,101 1.140 91,864 91,864 73,116 Totsl 2021 73,116 73,116 Page 15
Virtualsigrhalure Transaction Rel. T38C-QD57.Q9AP 27 Sep 2023 09.40.36 8ST IUTC *110 111 P 18127 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Investmgnt incom Unrestricted funds 2022 Total funds 2022 Total funds 2021 Investment income Bank interest 42,230 672 42,230 672 46,146 5,571 42,902 42,902 51,717 Totsl 2021 51,717 51,717 Other incoming resources Unrestricted fvnds 2022 Total funds 2022 Total funds 2021 other inilialives 63,235 63.235 27,801 Totsl 2021 27,801 27,801 Analysls of expendlture on charltable actlvltles Summary by fund type Unrestrlcted funds 2022 Total 2022 Total 2021 Direct costs Governance costs 589,470 5,918 589,470 5,918 424,673 4,673 595,388 595,388 429,346 Totsl 2021 429,346 429,346 Page 16
Virtualsigrhalure Transaction Rel. T38C-QD57.Q9AP 27 Sep 2023 09.40.36 8ST IUTC *110 111 P 19127 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Other oxpenditur Unrestricted funds 2022 Total funds 2022 Total funds 2021 Mortgage interest 9,781 9,781 7,788 Total 2021 7,788 7,788 Analysls of expendlture by actlvltles Activities undertaken directly 2022 Support costs 2022 Total funds 2022 Total funds 2021 Direct costs Governance costs 589,470 589,470 5,918 424,673 4,673 5,918 589,470 5,918 595,388 429,346 Totsl 2021 424,673 4,673 429,346 Page 17
Virtualsigrhalure Transaction Rel. T38C-QD57.Q9AP 27 Sep 2023 09.40.36 8ST IUTC *110 111 P 20127 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Analysis of expenditur8 by activities Icontinuedl Analysis of direct costs Total funds 2022 Total funds 2021 Activities 2022 Meetings and Events Cost of literature Missionary fund donations Premises costs 214,320 2,532 140,003 88,015 536 214,320 2,532 140,003 88,015 536 121,514 97,636 60,167 22 Bank charges Computer and inlernel expenses Postage, stationary and telephone Other 2,402 3,038 11531 138,777 2,402 3,038 (1531 138,777 6,761 3.251 Depreciation of equipment & property Gain on disposal of fixed assets 135,478 11561 589,470 589,470 424,673 Totsl 2021 424,673 424,673 Analysis of support costs Total funds 2022 Totsl funds 2021 Activities 2022 Travel costs Subscriptions Independent examinerfs fees 2,198 350 3,370 2,198 350 3,370 1,636 301 2,736 5,918 5,918 4,673 Total 2021 4,673 4,673 Page 18
Virtualsigrhalure Transaction Rel. T38C-QD57.Q9AP 27 Sep 2023 09.40.36 8ST IUTC *110 111 P 21127 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 10. Independent 8xaminar's remuneration 2022 2021 Fees payable lo the Company's independent examiner for the independent examination of the Companls annual accounts Fees payable lo the Company's independent examiner in respect of= Preparation of the Company's annual accounts 1,140 870 2,130 2,010 11. Tan9ible fixed assets Freehold property Plant and machinery Office Other fixgd equipment assets Total Cost or valuation At 1 January 2022 Additions 825.720 49,856 8,850 54,943 3,301 321,699 263 1,252.218 12.414 At 31 December 2022 825.720 58,706 58,244 321.962 1,264.632 Depreciation At 1 January 2022 Charge for the year 701.826 82.572 27,343 11,339 28,128 13,105 232,460 31.761 989.757 138.777 At 31 December 2022 784.398 38,682 41,233 264,221 1,128.534 Net book value At 31 December 2022 41.322 20,024 17,011 57,741 136.098 At 31 December 2021 123,894 22,513 26,815 89,239 262,461 Page 19
Virtualsigrhalure Transaction Rel. T38C-QD57.Q9AP 27 Sep 2023 09.40.36 8ST IUTC *110 111 P 22127 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 12. Fixed assat investments Investments Sn subsidiary Unlisted companies Investments Total Cost or valuation Al 1 January 2022 839.272 839.278 At 31 December 2022 839.272 839,278 Principal subsidiaries The following were subsidiary undertakings of the Company.. Namos Company number Holding TCD Business Limited Oxfordshire Enterprises Limited GH Travel Limited 06451996 07360963 09410676 100/0 100°/0 100'/0 The financial results of the subsidiaries for the year were.. Namos Aggregate of share capital and rgsgrvgs TCD Business Limited Oxfordshire Enterprises Limited GH Travel Limited All three subsidiaries had a profit and loss balan of £nil in the year wth GH Travel Limited and Oxfordshire Enterprises Limited being dormant in the year. 13. Debtors 2022 2021 Trade debtors 1,315 6,824 84,068 6,638 6,654 65,644 Amounts owed by group undertakings Prepayments and accrued income 92,207 78,936 Page 20
Virtualsigrhalure Transaction Rel. T38C-QD57.Q9AP 27 Sep 2023 09.40.36 8ST IUTC *110 111 P 23127 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 14. Creditors.. Amounts falling duo within ona year 2022 2021 Bank loans Trade creditors 31,819 7,380 34,079 17,766 Amounts owed lo group undertakings Other creditors Accruals and deferred income 1,090 9,964 4,573 18,498 50,255 74,918 15. Creditors.. Amounts falling due after more than one year 2022 2021 Bank loans 178,407 209,148 The aggregate amount of liabilities payable or repayable wholly or in part more than five years after the reporting dale is.. 2022 2021 Repayable by inslalments 19,312 41,680 19,312 41,680 The loan is for a mortgage secured over the property purchased during the 2013. Repayments on the loan have begun with interest being paid at the base rate plus 2.950/0. Page 21
Virtualsigrhalure Transaction Rel. T38C-QD57.Q9AP 27 Sep 2023 09.40.36 8ST IUTC *110 111 P 24127 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 16. Statgmgnt offunds Statgmgnt offunds- current year Balance at 31 December 2022 Balanca at 1 January 2022 Income Expenditure Unrestrlcted funds Designated funds Designated Funds - all funds 401.273 401.273 General funds General Funds - all funds 141.091 516.311 1605,1691 52.233 Total Unrgstrictgd fvnds 542,364 516.311 1605,1691 453.506 Restricted funds Restricted Funds- all funds 740,707 740.707 Total of funds 1,283,071 516.311 1605,1691 1,194.213 Page 22
Virtualsigrhalure Transaction Rel. T38C-QD57.Q9AP 27 Sep 2023 09.40.36 8ST IUTC *110 111 P 25127 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 16. Statgmgnt of funds Icontinuedl Statgmgnt offunds- prioryoar Ealance at 31 December 2021 Balance al 1 January 2021 Income Expenditure Unrestrlcted funds Designated funds Designated Funds - all funds 425,556 124,2831 401,273 General funds General Funds - all funds 175,953 377,989 1412,851 } 141,091 Total Unrgstrictgd fvnds 601,509 377,989 1437,134} 542,364 Restricted funds Restricted Funds- all funds 740,707 740,707 Total of funds 1,342,216 377,989 1437,134) 1,283,071 The restrirted fund is reslricled to the development of the freehold propety. A major development al the main premises, Garden House, is Currently expected to start in 2028. 17. Analysis of ngt assets betwggn funds Analysis of ngt assets bgtwggn funds - Currgnt year Restricted Unrestricted funds funds 2022 2022 Total fvnds 2022 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Creditors due in more than one year 136,098 98,571 447,499 150,2551 1178,407} 136.098 839.278 447,499 150,255) {178.407) 740,707 Total 740,707 453,506 1,194.213 Page 23
Virtualsigrhalure Transaction Rel. T38C-QD57.Q9AP 27 Sep 2023 09.40.36 8ST IUTC *110 111 P 26127 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 17. Analysis of net assgts botwo8n funds {continugdl Analysis of net assgts botwo8n funds- prioryear Restricted Unreslricled funds funds 2021 2021 Total funds 2021 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Creditors due in more than one year 262,461 98,571 465,398 174,9181 1209,148} 262,461 839,278 465,398 174,9181 (209,1481 740,707 Total 740,707 542,364 1,283,071 18. Reconciliation of net movement in funds to net cash flow from operating activities 2022 2021 Nel expenditure for the year las per Statement of Financial Acliviliesl {88.8581 159,1451 Adjustments for- Depre¢ialion charges Dividends, interests and rents from investments Increase in debtors 138,777 142,9021 {13,2711 (24,6631 135,322 146,1801 13,0431 17,891 Increaselldecreasel in creditors Net cash provided byllusad in) operating activities 130,9171 44,845 19. Analysls of cash and cash equlvalents 2022 2021 Cash in hand 355,292 386,462 Total cash and cash equivalents 355,292 386,462 Page 24
Virtualsigrhalure Transaction Rel. T38C-QD57.Q9AP 27 Sep 2023 09.40.36 8ST IUTC *110 111 P 27127 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 20. Analysis of changes in net debt At1 January 2022 Cash flows At31 December 2022 Cash at bank and in hand Debt due within 1 year Debt due after 1 year 386.462 134,0791 {209.148) (31,1701 2,260 30,741 355.292 131,8191 {178.407) 143.235 1,831 145.066 21. Related party transactions In common with many Church organisations, trustees make a significant financial contribution to the Charity. These donations are made as part of normal giving by Church members and it would not be practical lo quantify the amount donated. Brunslad Christian Church Did¢ot {BCCDI has a wholly owned trading subsidiary TCD Business Limited which made donations of £53,82412021.. £19,654) lo the charitable company in the current accounting period. Al the year end BCCD was owed £6,82412021.. £6,654) byTCD Business Limited. BCCD has a wholly owned trading subsidiary Oxfordshire Enterprises Limited. Al the year end BCCD was owed £212021.. £21. 22. Controlling party The ultimate controlling paty is the Board of Trustees as detailed on page 1 of the financial statements. Page 25