LOUGHBOROUGH
UNITED REFORMED CHURCH
CHARITY
Annual report
and accounts
for the year ended 31 December 2022
Registered charity no. 1129259
LOUGHBOROUGH UNITED REFORMED CHURCH CHARITY
Registered Charity no. 1129259 REPORT OF THE TRUSTEES For the year ended 31 December 2022
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 2022 until the date of this report are:
Rev. Craig Muir (Trustee and Chairman) Peter Rippon (from 1st January 2020) Daphne Beale (from 1st January 2020 to resignation on 21st June 2023) Hilary Roythorne (secretary )(from 1st January 2022) Alan Roythorne (from 1st January 2022) Geetha Bala (from 1st January 2018) Dilys Payne (from 1st January 2018) Una Hubbard (from 1st January 2021)) Gillian Ablethorpe (from 1st January 2023)
The Elders/Trustees meet monthly and on other occasions as business requires.
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LOUGHBOROUGH UNITED REFORMED CHURCH CHARITY
Registered Charity no. 1129259
REPORT OF THE TRUSTEES (continued)
For the year ended 31 December 2022
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 Secretary.
Financial review
The overall net movement in funds in the year was an increase of £19,637 (2021 - decrease of £30,955). The deficit on General account was £18,104 (2021- deficit of £24,351).
Expenditure on maintaining and refurbishing the premises amounted to £16,858 (2021 - £29,071) and on the Manse, net of recoveries, to £1,742 (2021 - £18,425).
At 31st December 2022 the General (or unrestricted) Fund stood at £11,681 (2021 - £29,785). The continuing decline in the General Fund is of concern to the trustees who are addressing the situation.
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 13th July 2023
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LOUGHBOROUGH UNITED REFORMED CHURCH CHARITY
Registered Charity no. 1129259
| STATEMENT OF FINANCIAL ACTIVITIES Year ended 31 December 2022 Restricted funds INCOMING RESOURCES Voluntary income Freewill offerings - Loose offerings - Income tax recoverable - Link subscriptions - Donations and legacies 40,000 Collections for Commitment for Life - 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 40,000 RESOURCES EXPENDED (per schedule - page 5) 1,745 NET INCOMING RESOURCES BEFORE TRANSFERS 38,255 Transfers between funds Transfer of 3C's funds - - - - NET MOVEMENT IN FUNDS 38,255 Balances at 31 December 2021 26,844 Balances at 31 December 2022 65,099 |
STATEMENT OF FINANCIAL ACTIVITIES Year ended 31 December 2022 Restricted funds INCOMING RESOURCES Voluntary income Freewill offerings - Loose offerings - Income tax recoverable - Link subscriptions - Donations and legacies 40,000 Collections for Commitment for Life - 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 40,000 RESOURCES EXPENDED (per schedule - page 5) 1,745 NET INCOMING RESOURCES BEFORE TRANSFERS 38,255 Transfers between funds Transfer of 3C's funds - - - - NET MOVEMENT IN FUNDS 38,255 Balances at 31 December 2021 26,844 Balances at 31 December 2022 65,099 |
Maintenance Church fundsOrganisations |
Maintenance Church fundsOrganisations |
General fund |
2022 £ Total 30,424 1,459 7,754 30 44,415 949 635 23,186 - 1,135 - 600 226 - 5,000 109 115,922 96,285 19,637 - - - - 19,637 66,822 86,459 |
2021 £ Total |
|---|---|---|---|---|---|---|
| - - - - 40,000 - - - - - - - - - - - 40,000 1,745 38,255 - - - - 38,255 26,844 65,099 |
- - - - - - - - - - - - - - - - - - - - - - - 7,274 7,274 |
- - - - - - - - 1,021 - - - - - - 1,021 1,130 (109) (405) - - (405) (514) 2,919 2,405 |
30,424 1,459 7,754 30 4,415 949 635 23,186 - 114 - 600 226 - 5,000 109 74,901 93,410 (18,509) 405 - - 405 (18,104) 29,786 11,682 |
32,344 973 8,297 - 1,268 825 832 21,111 11,650 627 - 104 59 2,500 6,340 33 |
||
| 86,963 | ||||||
| 117,918 | ||||||
| (30,955) - - - |
||||||
| (30,955) | ||||||
| (30,955) 97,777 |
||||||
| 66,822 |
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LOUGHBOROUGH UNITED REFORMED CHURCH CHARITY
Registered Charity no. 1129259
| STATEMENT OF FINANCIAL ACTIVITIES Year ended 31 December 2022 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 - Copyright licences - Church & Community Centre manager's costs - Junior Church - - 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 1,745 1,745 |
Maintenance funds - - - - - - - - - - - - - - - - - - - - - - - - - |
Church General organisations fund - 33,696 - 224 - 1,635 - 350 - 160 - 350 - - - 22 - 436 - 1,186 - 617 - 10,207 - - - 48,883 - 2,448 - 3,941 - 1,884 - 455 - 5,046 - 6,935 - 2,201 - 1,077 - - - 16,858 - 40,845 |
2022 £ Total 33,696 224 1,635 350 160 350 - 22 436 1,186 617 10,207 - 48,883 2,448 3,941 1,884 455 5,046 6,935 2,201 1,077 - 18,603 42,590 |
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 26,468 |
||||
| 47,638 |
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LOUGHBOROUGH UNITED REFORMED CHURCH CHARITY
Registered Charity no. 1129259
| STATEMENT OF FINANCIAL ACTIVITIES Year ended 31 December 2022 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 1,745 |
Maintenance funds - - - - - - - - - - - - - - - |
Church organisations - - - - - - - - - - - - 1,130 1,033 1,130 |
General fund 621 424 2,846 170 - (1,876) - 3,963 (4,406) |
2022 £ Total 621 424 2,846 170 - (1,876) - 3,963 (4,406) 1,742 1,940 1,940 1,130 3,571 96,285 |
2021 £ Total |
|---|---|---|---|---|---|
| - 458 324 - 320 3,921 1,601 19,508 (7,707) |
|||||
| 1,742 | 18,425 | ||||
| 1,940 1,940 - - 93,410 |
2,299 | ||||
| 2,299 | |||||
| 1,033 | |||||
| 3,571 | |||||
| 117,918 |
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LOUGHBOROUGH UNITED REFORMED CHURCH CHARITY
| LOUGHBOROUGH UNITED REFORMED CHURCH CHARITY | ||
|---|---|---|
| Registered Charity no. 1129259 BALANCE SHEET at 31st December 2022 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 NET CURRENT ASSETS NET ASSETS Represented by: Restricted funds Organ, choir and music fund 4 Legacy Fund 4 Unrestricted funds Church maintenance account 5 Manse maintenance account 5 Church organisations 6 General account |
2022 £ 3 3 500 34,600 102 59,976 1,965 97,143 4,217 6,470 10,687 86,456 ~~86,459~~ 4,437 60,662 65,099 - 7,274 7,274 2,405 11,681 ~~86,459~~ |
2021 £ 3 |
| 3 500 31,667 115 51,728 2,616 |
||
| 86,626 | ||
| 6,803 13,004 |
||
| 19,807 | ||
| 66,819 | ||
| ~~66,822~~ | ||
| 4,437 22,407 |
||
| 26,844 - 7,274 |
||
| 7,274 2,919 29,785 |
||
| ~~66,822~~ |
Approved by the Trustees of the Loughborough United Reformed Church Charity on 13th July 2023 and signed on their behalf by
P Rippon Treasurer
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LOUGHBOROUGH UNITED REFORMED CHURCH CHARITY
Registered Charity no. 1129259
NOTES TO THE ACCOUNTS at 31st December 2022
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 £5,112,146, the huts at £568,376 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 2021 | 16,051 | 119,637 | 94,523 | 230,211 |
| Additions in year | - | - | - | - |
| At 31st December 2022 | 16,051 | 119,637 | 94,523 | 230,211 |
| Depreciation: | ||||
| At 31st December 2021 | 16,051 | 119,635 | 94,522 | 230,208 |
| Provided by transfer from restricted accounts | - | - | - | - |
| Provided by transfer from Income & Expenditure account | - | - | - | - |
| - | ||||
| At 31st December 2022 | 16,051 | 119,635 | 94,522 | 230,208 |
| Net book values: | ||||
| At 31st December 2022 | - | 2 | 1 | 3 |
| At 31st December 2021 | - | 2 | 1 | 3 |
For insurance purposes furniture and equipment are valued at a replacement cost of £269,427.
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LOUGHBOROUGH UNITED REFORMED CHURCH CHARITY Registered Charity no. 1129259 NOTES TO THE ACCOUNTS (continued) at 31st December 2022
3.
4.
5.
BANK BALANCES
| BANK BALANCES National Westminster current account National Westminster deposit account Loughborough Building Society Bank accounts of Church organisations DESIGNATED ACCOUNTS Balance at 31 December 2021 Donations and fund raising Legacies and grants Expenditure in the year Balance at 31 December 2022 UNRESTRICTED ACCOUNTS Balance at 31 December 2021 Rental income Transfers from the General account: Transfer from Legacy account Expenditure in the year Balance at 31 December 2022 |
2022 £ 7,899 36,886 15,191 - 59,976 Organ, Legacy choir & fund music fund £ £ 22,407 4,437 - - 40,000 - (1,745) - 60,662 4,437 Manse Church maintenance maintenance £ £ 7,274 - - - - - - - - - 7,274 - |
2021 £ 9,008 27,263 15,161 296 |
|---|---|---|
| 51,728 | ||
| Total £ 26,844 - 40,000 (1,745) |
||
| 65,099 | ||
| £ 7,274 - - - - |
||
| 7,274 |
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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 2022, 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:
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Examine the accounts under section 145 of the 2011 Act;
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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
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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:
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1 which gives me reasonable cause to believe that in any material respect the requirements
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to keep accounting records in accordance with section 130 of the 2011 Act; and
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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
29th September 2023
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