2021-12-31-accounts - Loughborough United Reformed Church Charity

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LOUGHBOROUGH

UNITED REFORMED CHURCH

CHARITY

Annual report

and accounts

for the year ended 31 December 2021

Registered charity no. 1129259

LOUGHBOROUGH UNITED REFORMED CHURCH CHARITY

Registered Charity no. 1129259 REPORT OF THE TRUSTEES For the year ended 31 December 2021

Constitution

On 19th April 2009 the members of The United Reformed Church in Loughborough resolved to form a trust called Loughborough United Reformed Church Charity and to register with the Charity Commissioners under the terms of The Charity Act 2006. The Charity Commissioners duly registered the Church as a charity on 22nd April 2009.

The Trust comprises all assets and funds held by and on behalf of the Loughborough United Reformed Church other than properties held under trusts declared in Schedule 2 of the United Reformed Church Act 1972 (as amended by the United Reformed Church Acts 1981 and 2000) and those held on other specifically declared trusts.

Object

The object of the Charity is the advancement of the Christian faith for the benefit of the public in accordance with the Scheme of Union of the United Reformed Church.

Trustees

The Minister and the serving Elders at the time of registration became the first Trustees. Trustees are usually the Minister and the current serving Elders of the Church, but at present one Elder has declined to be a Trustee. Elders are elected annually by the members of the Church at the November Church meeting to serve for a term of three years from the following 1st January.

The Trustees who have served from 1st January 2021 until the date of this report are:

Rev. Craig Muir (Trustee and Chairman from 18th September 2021) Peter Rippon (from 1st January 2020) Daphne Beale (from 1st January 2020) Hilary Roythorne (secretary )(from 1st January 2022) Anthony Payne (to 31st December 2021; Chairman to 18th September 2021) Alan Roythorne (from 1st January 2022) Geetha Bala (from 1st January 2017) Dilys Payne (from 1st January 2017) Una Hubbard (from 1st January 2021))

The Elders/Trustees meet monthly and on other occasions as business requires.

LOUGHBOROUGH UNITED REFORMED CHURCH CHARITY

Registered Charity no. 1129259

REPORT OF THE TRUSTEES (continued)

For the year ended 31 December 2021

Activities

The Trustees are aware of the Charity Commission's guidance on public benefit in "The Advancement of Religion for the Public Benefit" and have regard to it in their administration of the Church. The Trustees believe that by promoting the whole mission of the Church, pastoral, evangelistic, social and ecumenical, it provides a benefit to the public by:

Providing resources and facilities for public worship, pastoral care and spiritual, moral and intellectual development, both for its members and for anyone who wishes to benefit from what the Church offers;
Promoting Christian values, and service by Members of the Church to the community, to the benefit of individuals and society as a whole.

The Church fulfils these obligations through a wide variety of activities which include weekly worship for both adults and children, bible study, a book club, the letting of its premises to a number of local societies and groups and a range of social activities. Full details of all such activities are incorporated into a separate booklet of reports which is distributed to all members and also is available from the Church Secretaries.

Financial review

The overall net movement in funds in the year was a decrease of £30,955 (2020 - decrease of £8,452). The deficit on General account was £24,352 (2020 - deficit of £6,092).

Expenditure on maintaining and refurbishing the premises amounted to £29,071 (2020 - £27,560) and on the Manse, net of recoveries, to £15,245 (2020 - £2,736).

At 31st December 2021 the General (or unrestricted) Fund stood at £29,785 (2020 - £54,137), which is considered to be satisfactory.

Reserve policy

The policy of the Trustees is to maintain the General reserve at a level to provide working capital for the next twelve months and to retain sufficient funds to meet a reasonable level of unexpected or unbudgeted expenditure.

Restricted funds are established to provide for expenditure of a capital nature. Expenditure on such projects is only authorised where the funds, together with any grants obtained, are sufficient to meet the costs of the project without calling on the General Reserve.

By order of the Trustees

Craig Muir - Chairman 24th October 2022

LOUGHBOROUGH UNITED REFORMED CHURCH CHARITY

Registered Charity no. 1129259

STATEMENT OF FINANCIAL ACTIVITIES Year ended 31 December 2021 Restricted funds *INCOMING RESOURCES* *Voluntary income* Freewill offerings - Loose offerings - Income tax recoverable 206 Link subscriptions - Donations and legacies - Collections for Commitment for Life 825 Collections for specific purposes - *Generated funds* Rents for use of Church buildings - Rental income from Manse - Fund raising and activities - Organ, music and choir fund - Other income - Photocopy receipts - Charnwood Borough Council -Covid grant - Synod grant - *Investment income* Interest received - *Total income* 1,031 *RESOURCES EXPENDED* (per schedule - page 5) 1,031 *NET INCOMING RESOURCES* *BEFORE TRANSFERS* - *Transfers between funds* Expenditure financed from restricted funds (2,603) Manse maintenance account - Church maintenance account - (2,603) NET MOVEMENT IN FUNDS (2,603) Balances at 31 December 2020 29,447 Balances at 31 December 2021 26,844	Maintenance Church fundsOrganisations	Maintenance Church fundsOrganisations	General fund	2020 £ Total
- - 206 - - 825 - - - - - - - - - - 1,031 1,031 - (2,603) - - (2,603) (2,603) 29,447 26,844	- - - - - - - - 11,650 - - - - - - 11,650 15,245 (3,595) - - - - (3,595) 10,869 7,274	- - - - - - - - 628 - - - - - - 628 1,033 (405) - - - - (405) 3,324 2,919	32,344 973 8,091 - 1,268 - 832 21,110 - - - 104 59 2,500 6,340 33 73,654 100,609 (26,955) 2,603 - - 2,603 (24,352) 54,137 29,785	31,815 991 7,218 95 2,159 960 - 17,982 13,650 1,249 - 250 - 7,500 - 155
				84,024
				79,028
				4,996 (13,448) - -
				(8,452)
				(8,452) 106,229
				97,777

LOUGHBOROUGH UNITED REFORMED CHURCH CHARITY

Registered Charity no. 1129259

STATEMENT OF FINANCIAL ACTIVITIES Year ended 31 December 2021 Restricted funds *RESOURCES EXPENDED* *Ministry, worship and outreach* Ministry and Mission contribution - Pulpit supplies - Minister's travel expenses - Worship, service and related expenses - Audio and visual equipment - Organists' fees, choir and music fund - Link production costs - Website costs - Donations, subscriptions and Minister's discret - Payable to Commitment for Life 1,031 Copyright licences - Church & Community Centre manager's costs - Junior Church - 1,031 *Church Buildings* Electricity - Gas - Council tax and waste collection - Water rates - Insurance - Cleaner's wages - Cleaning materials and services - Telephone - Depreciation of furniture and equipment - Maintenance expenditure - -	Maintenance funds - - - - - - - - - - - - - - - - - - - - - - - - -	Church organisations - - - - - - - - - - - - - - - - - - - - - - - - -	General fund 32,076 697 1,250 973 173 330 - 22 1,665 - 548 9,758 - 47,492 1,113 3,262 1,637 435 4,600 4,776 1,960 784 2,603 26,469 47,639	2021 £ Total 32,076 697 1,250 973 173 330 - 22 1,665 1,031 548 9,758 - 48,523 1,113 3,262 1,637 435 4,600 4,776 1,960 784 2,603 26,469 47,639	2020 £ Total
					32,076 450 108 213 - 150 67 - 957 1,200 578 2,914 -
					38,713
					(339) 4,331 1,637 750 4,645 4,966 3,253 876 - 14,112
					34,231

LOUGHBOROUGH UNITED REFORMED CHURCH CHARITY

Registered Charity no. 1129259

STATEMENT OF FINANCIAL ACTIVITIES Year ended 31 December 2021 Restricted funds *RESOURCES EXPENDED* *Manse* Telephone - Insurance - Council tax - Water rates - Gas and electricity - Removal expenses - Agent's management expenses - Maintenance expenditure - Contributions fron Synod and Melton Mowbray - *Administration and money raising* Stationery, printing and postages - - Expenditure of Church organisations - - *Total expenditure* 1,031	Maintenance funds - 458 324 - 320 - 1,601 19,507 (6,965) 15,245 - - - - 15,245	Church organisations - - - - - - - - - - - - 1,033 1,033 1,033	General fund - - - - - 3,921 - - (742) 3,179 2,299 2,299 - - 100,609	2021 £ Total - 458 324 - 320 3,921 1,601 19,507 (7,707) 18,424 2,299 2,299 1,033 3,571 117,918	2020 £ Total
					- 441 - - - 1,850 445 -
					2,736
					2,273
					2,273
					1,075
					3,571
					79,028

LOUGHBOROUGH UNITED REFORMED CHURCH CHARITY

LOUGHBOROUGH UNITED REFORMED CHURCH CHARITY
Registered Charity no. 1129259 BALANCE SHEET at 31st December 2021 Note TANGIBLE FIXED ASSETS Alterations to premises, furniture and equipment: At cost less amounts written off 2 CURRENT ASSETS Fair Trade stocks Debtors Payments in advance Bank balances 3 Cash in hand CURRENT LIABILITIES - payable within one year Creditors Accruals Income received in advance NET CURRENT ASSETS NET ASSETS Represented by: Restricted funds Organ, choir and music fund 4 Audio visual fund 4 Legacy Fund 4 Unrestricted funds Church maintenance account 5 Manse maintenance account 5 Church organisations 6 General account	2021 £ 3 3 500 31,667 115 51,728 2,616 86,626 5,603 13,004 1,200 19,807 66,819 ~~66,822~~ 4,437 - 22,407 26,844 - 7,274 7,274 2,919 29,785 ~~66,822~~	2020 £ 3
		3 900 18,857 6,825 93,423 938
		120,943
		17,933 1,536 3,700
		23,169
		97,774
		~~97,777~~
		4,437 - 25,010
		29,447 - 10,869
		10,869 3,324 54,137
		~~97,777~~

Approved by the Trustees of the Loughborough United Reformed Church Charity on 24th October 2022 and signed on their behalf by

P Rippon Treasurer

LOUGHBOROUGH UNITED REFORMED CHURCH CHARITY

Registered Charity no. 1129259

NOTES TO THE ACCOUNTS at 31st December 2021

1. TANGIBLE FIXED ASSETS

Freehold properties

The Manse is held by trustees on behalf of the East Midlands Province of the United Reformed Church for the benefit of the Congregation of the United Reformed Church in Loughborough. In previous years the cost of the Manse has been shown in the accounts as an asset but following the redemption of the outstanding mortgage liability by the East Midlands Province in 2011, it has been decided to remove the asset and the associated restricted fund from the accounts.

The Church premises and land at 39 Frederick Street, Loughborough are similarly held by trustees.

The Church buildings and huts are valued for insurance purposes at £4,733,468, the huts at £526,274 and the Manse at £340,440.

In the event of the closure of the Church, the benefit of the Manse and the Church would pass to the United Reformed Church (East Midlands Province) Incorporated and not to Loughborough United Reformed Church Charity.

2. Furniture and equipment

The furniture, fixtures fittings and equipment, including the old organ, are in the main very old and the historic cost of the majority of the items is not recorded in the accounting records. Accordingly, these assets are regarded as being fully depreciated.

Items of furniture and equipment and alterations to the premises since 2001 are capitalised if they exceed £500, otherwise the cost is expended in the year of purchase.

Where donations or grants are received towards the cost of fixed assets, such amounts are treated as depreciation and the remaining net balance is written off as follows:

Alterations and improvements to the premises	10 years
Furniture and equipment	5 years
Electrical and sound equipment	5 years

The movement on fixed assets during the year was as follows:

The movement on fixed assets during the year was as follows:
	Sound	Alterations	Furniture &
	system	to premises	equipment	Total
	£	£	£	£
Cost:
At 31st December 2020	13,448	119,637	94,523	227,608
Additions in year	2,603	-	-	2,603
At 31st December 2021	119,637	119,637	94,523	227,608
Depreciation:
At 31st December 2020	13,448	119,635	94,522	227,605
Provided by transfer from restricted accounts	-	-	-	-
Provided by transfer from Income & Expenditure account	2,603	-	-	2,603
				-
At 31st December 2021	13,448	119,635	94,522	230,208
Net book values:
At 31st December 2021	-	2	1	3
At 31st December 2020	-	2	2	3

For insurance purposes furniture and equipment are valued at a replacement cost of £268.960.

LOUGHBOROUGH UNITED REFORMED CHURCH CHARITY Registered Charity no. 1129259 NOTES TO THE ACCOUNTS (continued) at 31st December 2021

3.

4.

5.

BANK BALANCES National Westminster current account National Westminster deposit account Loughborough Building Society Bank accounts of Church organisations RESTRICTED ACCOUNTS Balance at 31 December 2020 Donations and fund raising Legacies and grants Expenditure in the year Transfer from Choir fund Balance at 31 December 2021 UNRESTRICTED ACCOUNTS Balance at 31 December 2020 Rental income Transfers from the General account: Transfer from Legacy account Expenditure in the year Balance at 31 December 2021	Audio visual fund - - - - - -	2021 £ 9,008 27,263 15,161 296 51,728 Organ, Legacy choir & fund music fund £ £ 25,010 4,437 - - - - (2,603) - - - 22,407 4,437 Manse Church maintenance maintenance £ £ 10,869 - 11,650 - - - - - (15,245) - 7,274 -	2020 £ 40,149 37,847 15,131 296
			93,423
			Total £ 29,447 - - (2,603) -
			26,844
			£ 10,869 11,650 - - (15,245)
			7,274

6. CHURCH ORGANISATIONS

Church organisations comprise Fair Trade, 3Cs, and the Flower fund.

Detailed accounts of these organisations can be obtained from their respective secretaries or the Church Treasurer.

LOUGHBOROUGH UNITED REFORMED CHURCH CHARITY

Registered Charity no. 1129259

REPORT OF THE INDEPENDENT EXAMINER

to the Trustees of The Loughborough United Reformed Church Charity

I report on the accounts of The Loughborough United Reformed Church Charity for the year ended 31st December 2021, which are set out on pages 1 to 8.

Respective responsibilities of trustees and examiner

The Charity’s Trustees are responsible for the preparation of the accounts. The Charity’s Trustees consider that an audit is not required under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:
Examine the accounts under section 145 of the 2011 Act;
To follow the procedures laid down in the General Directions given by the Charity Commissioners under section 145(5)(b) of the 2011 Act and
To state whether particular matters have come to my attention.

Basis of independent examiner's report

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

1 which gives me reasonable cause to believe that in any material respect the requirements
to keep accounting records in accordance with section 130 of the 2011 Act; and
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act

have not been met

2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Rachel Thorpe Loughborough

31st October 2022