**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:
- Providing resources and facilities for public worship, pastoral care and spiritual, moral and intellectual development both for the congregation and for anyone else who wishes to benefit from what the Church offers.
- Promoting Christian values and service by members of the congregation to the community, for the benefit of individuals and society as a whole.
## **Achievements and performance**
## **a. REVIEW OF ACTIVITIES**
The charity continued with its main activities providing regular public worship for all,
- Promoting the Christian faith, teaching it to all ages
- Providing training, nurture and activities for children and young people
- Serving the community
- Giving Pastoral care and support to members and others in need, particularly those in sickness, distress and poverty
- Providing premises and resources for community groups and activities
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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgments and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
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:
- Fixtures and fittings 6.66% straight line - Office equipment 25% straight line - Computer equipment 25% straight line
## **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