OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2020-12-31-accounts

Charity number: 1132694

ST IVES FREE CHURCH (UNITED REFORMED) CHARITY

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

Whitings LLP

Chartered Accountants & Business Advisers Raleigh House 14C Compass Point Business Park Stocks Bridge Way St Ives Cambridgeshire PE27 5JL

ST IVES FREE CHURCH (UNITED REFORMED) CHARITY

CONTENTS

Page
Reference and administrative details of the charity, its trustees and advisers 1
Trustees' report 2 - 4
Independent examiner's report 5
Statement of financial activities 6
Income and expenditure account 7
Balance sheet 8
Notes to the financial statements 9 - 18

ST IVES FREE CHURCH (UNITED REFORMED) CHARITY

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020

Trustees

E J Edwards C Ball D L Duffett C Jordan S R Runham B A Duffett A Curtis P Davies N Runham P German (appointed 1 December 2020) E Moore (appointed 1 December 2020) C Macleod (appointed 1 December 2020)

11332694

Charity registered number

1132694

Registered office

Market Hill, St Ives, Cambridgeshire, PE27 5AL

Accountants

Whitings LLP, Raleigh House, 14C Compass Point Business Park, Stocks Bridge Way, St Ives, Cambridgeshire, PE27 5JL

Page 1

ST IVES FREE CHURCH (UNITED REFORMED) CHARITY

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2020

The Trustees present their annual report together with the financial statements of the charity for the 1 January 2020 to 31 December 2020. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) as amended by Update Bulletin 1 (effective 1 January 2015).

Objectives and Activities

a. POLICIES AND OBJECTIVES

As a local congregation of the United Reformed Church, St Ives Free Church (United Reformed) Charity seeks to advance the Christian religion through its activities and the facilities offered to the community by its building, and described more specifically in its mission statement as:

"Providing for personal and public worship, enriching the spiritual and cultural life of the community. Providing a welcoming environment for all ages, responding to the needs of individuals and of groups, especially the most vulnerable in society. Promoting issues of global peace and justice, including fair trade and ecology."

The Elders' Meeting is aware of the Charity Commission's guidance on public benefit in "The advancement of Religion for the Public Benefit" and has regard to it in the administration of the Church."

The Elders' Meeting believes that, the Church provides benefit to the public by:

Achievements and performance

a. REVIEW OF ACTIVITIES

The charity continued with its main activities providing regular public worship for all,

We continue with our service and outreach to the community with the church being an integral part of the town centre along with the continued success of our coffee shop and Fair Trade Shop. The church is open 7 days a week with daily services in the chapel. The premises are well used by diverse community groups.

The outreach to local schools and promoting the Christian faith has been particularly successful this year and special services have been held for various youth groups.

Page 2

ST IVES FREE CHURCH (UNITED REFORMED) CHARITY

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2020

Financial review

a. GOING CONCERN

After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

b. RESERVES POLICY

Unrestricted funds: The church will not hold less than one half of its resources in investments for which the capital is not at risk.

Designated funds: The church holds a designated fund for Christian Aid. This is added to by various fund raising over the year and subsequently paid to Christian Aid.

c. SURPLUS

The charity has generated a net deficit of £25,906 for the year (2019 - net surplus £20,112) resulting in total funds at 31 December 2020 of £246,191 (2019 - £272,097).

Page 3

ST IVES FREE CHURCH (UNITED REFORMED) CHARITY

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2020

TRUSTEES' RESPONSIBILITIES STATEMENT

The Trustees (who are also directors of St Ives Free Church (United Reformed) Charity for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the Elders' Meeting, on 1 September 2021 and signed on their behalf by:

Esmond Edwards Trustee

Page 4

ST IVES FREE CHURCH (UNITED REFORMED) CHARITY

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2020

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ST IVES FREE CHURCH (UNITED REFORMED) CHARITY (the 'charity')

I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 December 2020.

This report is made solely to the charity's 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 state to the charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.

RESPONSIBILITIES AND BASIS OF REPORT

As the Trustees of the charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the charity 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 charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

INDEPENDENT EXAMINER'S STATEMENT

I have completed my examination. I can confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed: I Piper Whiting & Partners Raleigh House 14C Compass Point Business Park Stocks Bridge Way St Ives Cambridgeshire PE27 5JL

Dated:

Page 5

ST IVES FREE CHURCH (UNITED REFORMED) CHARITY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

Unrestricted
funds
Note
2020
£
INCOME FROM:
Voluntary income
2
81,119
Activities for generating funds
3
31,595
Investments
4
-
TOTAL INCOME
112,714
EXPENDITURE ON:
Charitable activities
8,7,6
152,431
Other expenditure
5
3,194
TOTAL EXPENDITURE
155,625
NET INCOME / (EXPENDITURE) BEFORE
INVESTMENT GAINS/(LOSSES)
(42,911)
Net gains/(losses) on investments
(3,353)
NET INCOME / (EXPENDITURE) BEFORE
OTHER RECOGNISED GAINS AND LOSSES
(46,264)
NET MOVEMENT IN FUNDS
(46,264)
RECONCILIATION OF FUNDS:
Total funds brought forward
118,490
TOTAL FUNDS CARRIED FORWARD
72,226		 Restricted
funds
2020
£
17,557
-
4,691
22,248
-
-
-
22,248
(1,890)
20,358
20,358
153,607
173,965		 Total
funds
2020
£
98,676
31,595
4,691
134,962
152,431
3,194
155,625
(20,663)
(5,243)
(25,906)
(25,906)
272,097
246,191		 Total
funds
2019
£
78,060
101,947
5,021
185,028
188,980
3,763
192,743
(7,715)
27,827
20,112
20,112
251,985
272,097

The notes on pages 9 to 18 form part of these financial statements.

Page 6

ST IVES FREE CHURCH (UNITED REFORMED) CHARITY

SUMMARY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2020

Note
GROSS INCOME IN THE REPORTING PERIOD
Less: Total expenditure
NET INCOME FOR THE FINANCIAL YEAR
14		 Total
funds
2020
£
129,719
155,625
(25,906)		 Total
funds
2019
£
212,856
192,743
20,112

The notes on pages 9 to 18 form part of these financial statements.

Page 7

ST IVES FREE CHURCH (UNITED REFORMED) CHARITY REGISTERED NUMBER: 11332694

BALANCE SHEET AS AT 31 DECEMBER 2020

Note
FIXED ASSETS
Tangible assets
10
Investments
11
CURRENT ASSETS
Debtors
12
Cash at bank and in hand
CREDITORS:amounts falling due within
one year
13
NET CURRENT ASSETS
NET ASSETS
CHARITY FUNDS
Restricted funds
14
Unrestricted funds
14
TOTAL FUNDS		 £
133
48,161
48,294
(2,416)		 2020
£
36,572
163,741
200,313
45,878
246,191
173,965
72,226
246,191		 £
865
57,861
58,726
(1,677)		 2019
£
42,657
172,391
215,048
57,049
272,097
153,607
118,490
272,097

The charity's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The Trustees consider that the charity is entitled to exemption from the requirement to have an audit under the provisions of the Charities Act 2011.

The Trustees acknowledge their responsibilities for complying with the requirements of Charities Act 2011 with respect to accounting records and the preparation of financial statements.

The financial statements were approved and authorised for issue by the Elders' Meeting on 1 September 2021 and signed on their behalf, by:

Esmond Edwards

The notes on pages 9 to 18 form part of these financial statements.

Page 8

ST IVES FREE CHURCH (UNITED REFORMED) CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

1. ACCOUNTING POLICIES

1.1 Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention with the exception that investments have been recognised at market value.

The financial statements have been prepared in accordance with the Statement of Recommended Prctice: Accounting and Reporting by Charities (SORP 2005) issued in April 2005, applicable UK accounting standards, The Charities Act 2011 and the United Reformed Church guidance. The accruals basis of accounting has been adopted, and the principal accounting policies set out below are applied consistently.

1.2 Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) 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 be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity 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 if material.

Donated services or facilities are recognised when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised and refer to the Trustees' report for more information about their contribution.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Page 9

ST IVES FREE CHURCH (UNITED REFORMED) CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

1. ACCOUNTING POLICIES (continued)

1.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Charitable activities and Governance costs are costs incurred on the charity's operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.

All expenditure is inclusive of irrecoverable VAT.

1.4 Tangible fixed assets and depreciation

All assets costing more than £500 are capitalised.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

1.5 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading ‘Gains/(losses) on investments’ in the Statement of financial activities.

1.6 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

1.7 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.8 Cash at Bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 10

ST IVES FREE CHURCH (UNITED REFORMED) CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

1. ACCOUNTING POLICIES (continued)

1.9 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is 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 charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

1.10 Financial instruments

The charity 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 at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.11 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The 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.

2.

VOLUNTARY INCOME

Unrestricted
funds
2020
£
Offertory
34,201
Tax reclaimed on covenanted giving
-
Donations and other income
12,016
Restricted donations and other income
-
Government grants
34,902
Total donations and legacies
81,119
Total 2019
66,873		 Restricted
funds
2020
£
-
15,807
-
1,750
-
17,557
11,187		 Total
funds
2020
£
34,201
15,807
12,016
1,750
34,902
98,676
78,060		 Total
funds
2019
£
38,400
9,856
28,473
1,331
-
78,060

Page 11

ST IVES FREE CHURCH (UNITED REFORMED) CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

3. ACTIVITIES FOR GENERATING FUNDS

Unrestricted
funds
2020
£
Room Hire
7,403
Centre Activity
21,892
Property Rents
2,300
Photocopying
-
31,595
Total 2019
101,947		 Restricted
funds
2020
£
-
-
-
-
-
-		 Total
funds
2020
£
7,403
21,892
2,300
-
31,595
101,947		 Total
funds
2019
£
18,706
75,923
6,900
418
101,947

4. INVESTMENT INCOME

Unrestricted
funds
Restricted
funds
2020
£
2020
£
Dividend income
-
4,682
Interest receivable
-
9
-
4,691
Total 2019
19
5,002
MINISTERIAL COSTS
Unrestricted
funds
2020
£
Housing costs
3,194
Total 2019
3,763		 Total
funds
2020
£
4,682
9
4,691
5,021
Total
funds
2020
£
3,194
3,763		 Total
funds
2019
£
5,002
19
5,021
Total
funds
2019
£
3,763

5. MINISTERIAL COSTS

Page 12

ST IVES FREE CHURCH (UNITED REFORMED) CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

6. COSTS OF CHURCH ACTIVITIES

Wages and salaries
Cleaning
Other and miscellaneous expenses
Accountancy
Postage and telephone
Other running costs
Stationery
Catering purchases
Gas, electricity and water rates
Insurance
Photocopying
Repairs and replacements
Worship expenses
Motor and travelling
Spire refurbishment
Depreciation
Total 2019		 Costs
£
55,820
1,240
689
1,335
2,327
2,940
1,948
7,755
9,622
8,109
809
179
2,327
450
-
6,439
101,989
138,002		 Total
2020
£
55,820
1,240
689
1,335
2,327
2,940
1,948
7,755
9,622
8,109
809
179
2,327
450
-
6,439
101,989
138,002		 Total
2019
£
58,105
2,462
633
1,296
2,622
2,732
934
24,925
14,062
7,475
1,383
9,957
3,621
1,551
1,500
4,744
138,002

7. SUPPORT COSTS

The church contributes to the central URC costs of training and providing ministers (including the centralised payment of stipends, pension contributions and other benefits for ministers), running the denomination, and the wider mission of the national church.

Unrestricted
funds
£
Ministry and mission fund
50,442
Total 2019
50,636		 Total
2020
£
50,442
50,636		 Total
2019
£
50,635

8. DONATIONS PAYABLE

DONATIONS PAYABLE
Unrestricted Restricted Total Total
funds funds funds funds
2020 2020 2020 2019
£ £ £ £
Donations payable - - - 343

Page 13

ST IVES FREE CHURCH (UNITED REFORMED) CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

9. NET INCOME/(EXPENDITURE)

This is stated after charging:

2020 2019
£ £
Depreciation of tangible fixed assets:
- owned by the charity 6,439 4,744

During the year, no Trustees received any reimbursement of expenses (2019 - £NIL).

10. TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
Cost
At 1 January 2020
Additions
At 31 December 2020
Depreciation
At 1 January 2020
Charge for the year
At 31 December 2020
Net book value
At 31 December 2020
At 31 December 2019		 Fixtures and
fittings
£
36,889
-
36,889
1,010
2,459
3,469
33,420
35,879		 Office
equipment
£
1,014
-
1,014
67
253
320
694
947		 Computer
equipment
£
14,668
353
15,021
8,837
3,726
12,563
2,458
5,831		 Total
£
52,571
353
52,924
9,914
6,438
16,352
36,572
42,657

Page 14

ST IVES FREE CHURCH (UNITED REFORMED) CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

11. FIXED ASSET INVESTMENTS

Market value
At 1 January 2020
Reclassification of cash balances
At 31 December 2020
Impairment
At 1 January 2020
Charge for the year
At 31 December 2020
Net book value
At 31 December 2020
At 31 December 2019
Investments at market value comprise:
Listed investments
All the fixed asset investments are held in the UK
Material investments

COIF Income Shares
M & G Charifund
Cofunds
Quadris - Goodwood fixed rate accumulation
Quadris - Goodwood fixed rate distribution
Cash deposits		 2020
£
163,741
31 December

2020
£
102,632
33,216
27,165
123
96
510
163,742		 Listed
securities
£
147,771
(3,416)
144,355
(24,620)
5,234
(19,386)
163,741
172,391
2019
£
172,391
31 December
2019
£
101,691
39,453
30,518
123
96
510
172,391

Page 15

ST IVES FREE CHURCH (UNITED REFORMED) CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

12. DEBTORS

DEBTORS
Other debtors
Prepayments and accrued income		 2020
£
-
133
133		 2019
£
268
597
865

13. CREDITORS: Amounts falling due within one year

CREDITORS: Amounts falling due within one year
Other creditors
Accruals and deferred income		 2020
£
590
1,826
2,416		 2019
£
-
1,677
1,677

Page 16

ST IVES FREE CHURCH (UNITED REFORMED) CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

14. STATEMENT OF FUNDS

STATEMENT OF FUNDS - CURRENT YEAR

Balance at
1 January
2020
£
Unrestricted funds
General Funds
118,490
Restricted funds
Restricted Funds
153,605
Other Restricted funds
2
153,607
Total of funds
272,097
STATEMENT OF FUNDS - PRIOR YEAR
Balance at
1 January
2019
£
General Funds
135,337
Restricted funds
Restricted Funds
116,650
Total of funds
251,987
SUMMARY OF FUNDS - CURRENT YEAR		 Income Expenditure
£
£
112,714
(155,625)
22,248
-
-
-
22,248
-
134,962
(155,625)
Income
Expenditure
£
£
168,820
(192,401)
16,209
(342)
185,029
(192,743)		 Gains/
(Losses)
£
(3,353)
(1,890)
-
(1,890)
(5,243)
Gains/
(Losses)
£
6,736
21,090
27,826		 Balance at
31
December
2020
£
72,226
173,963
2
173,965
246,191
Balance at
31
December
2019
£
118,492
153,607
272,099
General funds
Restricted funds		 Balance at
1 January
2020
£
118,490
153,607
272,097		 Income Expenditure
£
£
112,714
(155,625)
22,248
-
134,962
(155,625)		 Gains/
(Losses)
£
(3,353)
(1,890)
(5,243)		 Balance at
31
December
2020
£
72,226
173,965
246,191

Page 17

ST IVES FREE CHURCH (UNITED REFORMED) CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

14. STATEMENT OF FUNDS (continued)

SUMMARY OF FUNDS - PRIOR YEAR

General funds
Restricted funds		 Balance at
1 January
2019
£
135,337
116,650
251,987		 Income
Expenditure
£
£
168,820
(192,401)
16,209
(342)
185,029
(192,743)		 Gains/
(Losses)
£
6,736
21,090
27,826		 Balance at
31
December
2019
£
118,492
153,607
272,099

Page 18