| Page | ||||
|---|---|---|---|---|
| Report ofthe Trustees | I | to | 9 | |
| Statement ofTrustees' | Responslbiliiies | 10 | ||
| Report ofthe Independent Auditors |
11 | to | 13 | |
| Statement ofFinancial | Activities | 14 | to | 15 |
| Statement ofFinancial | Position | 16 | ||
| Statement ofCash Flows | 17 | |||
| Notes to the Statement | ofCash Flows | 18 | ||
| Notes to the Financial | Statements | 19 | to | 29 |
| Detailed Statement of | Financial Activities | 30 | to | 31 |
| 2022 | 2021 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||||||
| funds | funds | funds | funds | ||||||
| Notes | f, | I | |||||||
| INCOME AND ENDOWMENTS FROM | |||||||||
| Donations and legacies |
12,635 | 12,635 | 78,709 | ||||||
| Charitable activities |
|||||||||
| Proceeds fiom cbrurch | disposal | 505,026 | 505&026 | 516,254 | |||||
| Proceeds from manse | disposal | 1,486)685 | 1,486,685 | 268,895 | |||||
| Grants | 450 | 450 | 428 | ||||||
| Tranining costs &grants |
3)527 | 3)527 | 3,879 | ||||||
| Building surveys | 5,519 | ||||||||
| Investment income |
177,059 | 177,059 | 176,527 | ||||||
| Other income | 87,719 | 135,589 | 223)308 | 168,275 | |||||
| Total | 280840 | 2)127&750 | 2,408,690 | 1718,486 | |||||
| EXPENDITURE | ON | ||||||||
| Raising funds | |||||||||
| Other trading activities | 5 | 1,167 | 1,167 | 749 | |||||
| Investment management |
costs | 6 | 24,171 | 24,171 | 27,434 | ||||
| 25)338 | 25,338 | 28,183 | |||||||
| Charitable activities |
|||||||||
| Grants | 43,620 | ||||||||
| Tranining costs & |
grants | 17)006 | 17)006 | 46,508 | |||||
| Building surveys | 4&365 | 41365 | 4,644 | ||||||
| Outreach | 15,036 | 15,036 | 17,251 | ||||||
| Ecumenical activity |
201109 | 20,109 | 21,510 | ||||||
| Charitable activities |
1)450 | 1,450 | 1,170 | ||||||
| Welfare grants | 901 | 901 | 478 | ||||||
| Pastoral support | 13,486 | 13,486 | 13,872 | ||||||
| Children &youth | development | 49,223 | 49&223 | 48,862 | |||||
| Manse purchases | 911,470 | ||||||||
| Mission grants | 40,960 | 40)960 | 10,053 | ||||||
| Church improvement | dt | development | 91)403 | 91,403 | 5,082 | ||||
| Manse maintenance | &improvement | 93,399 | 93,399 | 53,682 | |||||
| Governance costs |
169,667 | 81)908 | 251)575 | 251,154 | |||||
| Other | 320&000 | 730,000 | 1,050,000 | ||||||
| Total | 635,680 | 1,038,571 | 1)674)Z51 | 1,457,539 | |||||
| Net gains/(losses) | on investments | (385Q71) | (385371) | 483,632 | |||||
| NKT INCOME/(EXPENDITURE) | (354,740) | 703,808 | 349&068 | 244,579 | |||||
| Transfers between | funds | 18 | 3,410,628 | (3&410,628) | |||||
| Net movement in |
funds | 3&055,888 | (2,706,820 ) | 349,068 | 244,579 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| funds | funds | funds | funds | |||
| Notes | f, | 8 | 5 | f, | ||
| RECONCILIATION | OFFUNDS | |||||
| Total funds brought forward | 321,041 | 4,822)151 | 5,143,192 | 4,898,613 | ||
| TOTAL FUNDS CARRIED FORWARD | 3&376&929 | 2&115/31 | 5)492&260 | 5,143,192 |
| 31DEC | EMBER2022 | ||||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| Unrestricted | Restricted | Total | Total | ||
| Notes | funds | Rnds f |
fundsf | funds | |
| FIXEDASSETS | |||||
| Tangible assets Investments |
13 14 |
3,727,492 | 100&000 2)015/31 |
100,000 5,742,823 |
100,000 5,115,352 |
| 3&727,492 | 2,115,331 | 5,842,823 | 5/15,352 | ||
| CURRY% ASSETS | |||||
| Debtors | 15 | 23,106 | 23,106 | 23,957 | |
| Cash at bank and in hand | 259,542 | 259&542 | 218,700 | ||
| 282)648 | 282,648 | 242,657 | |||
| CREDITORS | |||||
| Amounts falling due within one year |
16 | (353/11) | (353811) | (193,817) | |
| NET CURRENT ASSETS | (70,563) | (70)563) | 48,840 | ||
| TOTAL ASSETSLESSCURRENT LIAB~ |
3)656)129 | 2&115,331 | 5)772/60 | 5,264,192 | |
| CREDITORS | |||||
| Amounts falling due after more than one year |
17 | (280,000) | (280,000) | (121,000) | |
| NET ASSETS | 3,376,929 | 2,115)331 | 5)492460 | 5,143,192 | |
| FUNDS | |||||
| Unrestricted funds |
3&376,929 | 321,041 | |||
| Restricted funds | 2)115,331 | 4,822,151 | |||
| TOTALFUNDS | 5,492,260 | 5,143,192 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| Notes | 8 | 5 | ||
| Cash flows from operating activities Cash generated fiom operations |
876,625 | (554,160) | ||
| Net cash provided by/(used | in) operating | activities | 876&625 | (554,160) |
| Cash flows from investing | activities | |||
| Purchase offixed asset investments | (1,000,001) | |||
| Investment portfolio cash account Interest received |
(12&841) 177&059 |
19,542 176,527 |
||
| Net cash (used in)/provided | by investing | activities | (835)783) | 196,069 |
| Change in cash and cash the reporfing period |
equivalents | ln | 40,842 | (358,091) |
| Cash and cash equivalents beginning ofthe reporting |
at the period |
218)700 | 576,791 | |
| Cash and cash equivalents the reporting period |
st the end | of | 259,542 | 218,700 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Net income | for the | reporting | period (as per the Statement ofFinancial | ||
| Activities) | 349,068 | 244,579 | |||
| Adjustments | for: | ||||
| Losses/(gain) | on investments | 385871 | (483,632) | ||
| Interest received | (177,059) | (176,527) | |||
| Decrease in | debtors | 851 | 1,638 | ||
| increase/(decrease) | in creditors | 318&394 | (140,218) | ||
| Net cash provided | by/(used | ln) operations | 876,625 | (554,160) |
| ANALYSIS OF CHANGES IN NET FUND | S | ||
|---|---|---|---|
| At 1.1.22 | Cash flow | At31.12.22 | |
| Net cash | |||
| Cash at bank and in hand | 218&700 | 40,842 | 259&542 |
| 218&700 | 40,842 | 259&542 | |
| Total | 218&700 | 40&842 | 259,542 |
| 2. | DONATIO | NS AND LEG |
ACIE | S | |||
|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||
| 8 | |||||||
| Gitts | 840 | 840 | |||||
| Donations | 11,795 | 77,869 | |||||
| 12)635 | 78,709 | ||||||
| 3. | INVESTMENT INCOME | ||||||
| 2022 | 2021 | ||||||
| 8 | |||||||
| Dividends | and interest received | 177)059 | 176,527 | ||||
| INCOME FROM CHARITABLE AC11VITIES | |||||||
| 2022 | 2021 | ||||||
| Acnvity | |||||||
| Proceeds fiom church | |||||||
| disposals | Proceeds | fiom chrurch disposal | 505,026 | 516,254 | |||
| Proceeds | fiom roanse | ||||||
| disposal | Proceeds | fiom manse disposal | 1,486,685 | 268,895 | |||
| Grants | Grants | 450 | 428 | ||||
| Grants | Tranining | costs4grants | 3,527 | 3,879 | |||
| Grants | Building surveys | 5,519 | |||||
| 1,995,688 | 794,975 | ||||||
| Grants received, included | in the | above, are as follows: | |||||
| 2022 | 2021 | ||||||
| 8 | 8 | ||||||
| Tfallnllg | grsllts | 3&527 | 3,879 | ||||
| Building | surveys | 5,519 | |||||
| 3,527 | 9,398 | ||||||
| 5. | OTHER | TRADING ACT~S | |||||
| 2022 | 2021 | ||||||
| 8 | |||||||
| Purchases | 1,167 | 749 |
| 6, | INVESTMENT MANAGEMENT | INVESTMENT MANAGEMENT | COSTS | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| 5 | 6 | |||||
| Portfolio management | 24&171 | 27,434 | ||||
| 7. | CHARITABLE ACTIVITIES COSTS | |||||
| Grant | ||||||
| funding of | ||||||
| sctlvrtles | Support | |||||
| (see note | costs (see | |||||
| 8) | note 9) | Totals | ||||
| f. | f, | f. | ||||
| Tranining costs & grants |
17,006 | 17,006 | ||||
| Building surveys Outreach |
4,365 15,036 |
4&365 15,036 |
||||
| Ecumenical activity Charitable activities |
20,109 1,450 |
20,109 11450 |
||||
| Welfare grants Pastoral support Children &youth development Mission grants |
901 13,486 49,223 40,960 |
901 13)486 49,223 40)960 |
||||
| Church improvement | &development | 91,403 | 91&403 | |||
| Manse maintenance Governance costs |
&impmvement | 93,399 | 251)575 | 93&399 251,575 |
||
| 347,338 | 251,575 | 598)t13 | ||||
| 8. | GRANTS PAYABLE | 2022 | 2021 | |||
| Cnants | 43,620 | |||||
| Tranining costs &grants Building surveys Outreach |
17&006 4)365 15)036 |
46,508 4,644 17,251 |
||||
| Ecumenical activity Charitable activiBes |
20&109 1&450 |
21,510 1,170 |
||||
| Welfare grants Pastoral support Children &youth development Mission grants Church improvement &development Manse maintenance &improvement |
901 13,486 49,223 40,960 91,403 93)399 |
478 13,872 48,862 10,053 5,082 53,682 |
||||
| 347/38 | 266,732 |
| SUPPORT | COSTS | |
|---|---|---|
| Governance | ||
| costs | ||
| Other resources expended | 1,050,000 | |
| Governance | costs | 251,575 |
| 1,301,575 |
| 2022 | 2021 | |||||||
|---|---|---|---|---|---|---|---|---|
| Other | ||||||||
| resources | Governance | Total | Total | |||||
| expended I |
costs | activities 0 |
activities I |
|||||
| Wages | 116,194 | 116&194 | 120,258 | |||||
| Auditors' | remuneration | 8&758 | 8,758 | 3,258 | ||||
| Legal | 17,179 | 17&179 | 26,192 | |||||
| Post print | tk stationery | 5)418 | 5,418 | 7,006 | ||||
| Telephone | 2&917 | 2,917 | 3,633 | |||||
| Insurance | 32)983 | 32,983 | 32)417 | |||||
| Rent | 4,770 | 4,770 | 8,367 | |||||
| Light &heat | 3,756 | 3&756 | 1,651 | |||||
| Repairs | 6&306 | 6)306 | 10)493 | |||||
| Synod officers expenses | 6,517 | 6,517 | 5,247 | |||||
| Sundry expenses Synod committees expenses |
37&418 2)673 |
37&418 2,673 |
16,468 2/89 |
|||||
| ITsupport Bank charges and interest |
6,249 437 |
6,249 437 |
12,801 374 |
|||||
| Support for ministers | pension | fund | 1,050,000 | 1,050)000 | ||||
| 1,050&000 | 251,575 | 1,301&575 | 251,154 | |||||
| 10. | AUDITORS' REMUNERATION | |||||||
| 2022 | 2021 | |||||||
| I, | ||||||||
| Fees payable to the charity's | auditors for the audit ofthe charity's | financial | ||||||
| statements | 8)758 | 3,258 |
| 12. | STAFI&' COSTS | |||||
|---|---|---|---|---|---|---|
| 2022I | 2021 | |||||
| Wages and salaries | 116,194 | 120,258 | ||||
| 116&194 | 120,258 | |||||
| The average monthly number ofemployees |
during the year was as follows: | |||||
| 2022 | 2021 | |||||
| Synod staff | 9 | 7 | ||||
| No employees received emoluments | in excess off60,000. | |||||
| 13. | TANGIBLE FIXED ASSR&TS | |||||
| Freehold | Motor | Computer | ||||
| property | velucles | equipment | Totals | |||
| f, | f. | |||||
| COST | ||||||
| At 1 January 2022 and 31 December | 2022 | 100,000 | 13,131 | 25&635 | 138&766 | |
| DEPRECIATION | ||||||
| At 1January 2022 and 31December | 2022 | 13,131 | 25,635 | 38)766 | ||
| NET BOOKVALUE | ||||||
| At 31December 2022 | 100)000 | 100,000 | ||||
| At 31December 2021 | 100,000 | 100,000 |
| FIX8'D ASSETINVEST | MENTS | ||
|---|---|---|---|
| Listed | |||
| investments | |||
| ~&TVALUE | |||
| At 1 January 2022 Additions |
5,115,352 1,000&000 |
||
| Revaluations | (372,529) | ||
| At 31December 2022 | 5,742,823 | ||
| NKT BOOKVALUE | |||
| At 31December 2022 | 5)742,823 | ||
| At 31December 2021 | 5,115,352 | ||
| There were no investment | assets outside the UK. | ||
| Cost or valuation at 31December 2022 is represented |
by; |
| Cost or va | luat | ion at 31December 2022 is represented by; |
|
|---|---|---|---|
| Listed | |||
| investments | |||
| 5 | |||
| Valuation | in | 2021 | 720&444 |
| Valuation | in | 2022 | (92,973) |
| Cost | 5,115)352 | ||
| 5&742,823 |
| 2022 | 2021 | ||
|---|---|---|---|
| 0 | |||
| Other creditors | 298&470 | 177,156 | |
| Support for ministers Accruals and deferred |
pension fund income |
40,000 14,741 |
16,661 |
| 353&211 | 193,817 | ||
| CREDITORS: AMOUNTS FALLING DUE~&MORE THAN ONE YF&&R | |||
| 2022 0 |
2021I | ||
| Other creditors | 121000 | ||
| Support for ministers | pension fund | 280,000 | |
| 280,000 | 121,000 |
| The creditor of$121,000 is | The creditor of$121,000 is | the proceeds | the proceeds | the proceeds | fiom the sale of the | fiom the sale of the | former Hampton |
former Hampton |
Road URC which | Road URC which | is due to be |
|---|---|---|---|---|---|---|---|---|---|---|---|
| paid to Scarisbrick Estates under a reversionary clause. Efforts made by the charity's solicitors to arrange payment ofthis debt have been delayed due to the requirement of a scheme to be set up in relation to the funds. During the current year this creditor has been reclassified to be included within amounts falling due within one |
|||||||||||
| year. | |||||||||||
| MOVEMT&&(T IN FUNDS | Net | Transfers | |||||||||
| movement | between | At | |||||||||
| At l.l.22 | in funds | funds | 31.12.22 | ||||||||
| f, | I | f. | |||||||||
| Unreshdcted funds |
|||||||||||
| General fund | 321&041 | (34&740) | 17,860 | 304&161 | |||||||
| Designated funds |
(320,000) | 3&392,768 | 3&072,768 | ||||||||
| 321,041 | (354,740) | 3,410,628 | 3@76&929 | ||||||||
| Restricted funds | |||||||||||
| Church extension &development Manse pmperty reserve Manse scheme |
2,781&618 100,000 575&910 |
364,415 1&374,145 |
(3&146&033) | 100,000 1&150&055 |
|||||||
| Welfare | 3g67 | (451) | (3,516) | ||||||||
| Redundancy Mission grants Unrealised gains/losses |
15,000 74J95 1,031&092 |
(35&003) (385,370) |
(15,000) (39,992) (645,722) |
||||||||
| Ministers pension fund Altemahve ministries fund |
152&206 75&234 |
(603&744) (9858) |
451&538 | 65,276 | |||||||
| Birchwood mission | (5,957) | 5&t57 | |||||||||
| Another Space | 12,129 | 5,731 | (17,860) | ||||||||
| 4&822,151 | 703,808 | (3,410,628) | 2,115,331 | ||||||||
| TOTAL FUNDS | 5&143&192 | 349&068 | 5&492&260 |
| Incoming | Resources | Gains and | Movement | |||
|---|---|---|---|---|---|---|
| resources | expended | losses | in funds | |||
| I | 6 | 5 | ||||
| Unrestricted funds |
||||||
| General fund | 280g40 | (315,680) | (34,740) | |||
| Designated funds |
(320,000) | (320,000) | ||||
| 280)940 | (635,680) | (354,740) | ||||
| Restricted funds | ||||||
| Church extension &development | 505,026 | (140,611) | 364&415 | |||
| Manse scheme | 1)486,686 | (112,541) | 1)374,145 | |||
| Welfare | 450 | (901) | (451) | |||
| Mission grants | (35)003) | (35&003) | ||||
| Unrealised gains/losses |
I | (385&371) | (385,370) | |||
| Ministers pension fund | 126,257 | (730,001) | (603,744) | |||
| Alternative ministries |
fund | (9)958) | (9,958) | |||
| Birchwood mission | (5g57) | (585'7) | ||||
| Another Space | 9,330 | (3&599) | 5,731 | |||
| 2,127)750 | (1,038,571) | (385)371) | 703)808 | |||
| TOTAL FUNDS | 2,408,690 | (1)674,251) | (385)371) | 349,068 | ||
| Comparatlves for movement |
in funds | |||||
| Net | Transfers | |||||
| ruovement | between | At | ||||
| At 1.1.21 | in funds | funds | 31.12.21 | |||
| f. | 6 | f. | ||||
| Unrestricted funds |
||||||
| General fund | 337,440 | (16,399) | 321,041 | |||
| Restricted funds | ||||||
| Church extension &development | 2,423,676 | 442,990 | (85,048) | 2,781,618 | ||
| Manse property reserve Manse scheme |
100,000 1,291,837 |
(715,927) | 100,000 575,910 |
|||
| Welfare | 4,015 | (48) | 3,967 | |||
| Redundancy | 15,000 | 15,000 | ||||
| Mission grants Unrealised gains/losses |
547,461 | (4,528) 483,631 |
79,523 | 74,995 1,031,092 |
||
| Ministers pension fund Alternative ministries fund |
94,844 77,622 |
57,362 (2,388) |
152,206 75,234 |
|||
| Birchwood mission | (5,525) | 5,525 | ||||
| Another Space | 6,718 | 5,411 | 12,129 | |||
| 4,561,173 | 260,978 | 4,822, 151 | ||||
| TOTAL FUNDS | 4,898,613 | 244,579 | 5,143,192 |
| MOVEMENT IN FUNDS | MOVEMENT IN FUNDS | - continued | - continued | |||
|---|---|---|---|---|---|---|
| Comparative net movement |
in funds, included in the above are as | follows: | ||||
| Incoming | Resources | Gains and | Movement | |||
| lesoilrces | expended | losses | in funds | |||
| 8 | 6 | |||||
| Unrestricted funds |
||||||
| General fund | 351,373 | (367,772) | (16,399) | |||
| Restricted funds | ||||||
| Church extension &development | 522,565 | (79,575) | 442,990 | |||
| Manse scheme | 268,896 | (984,823) | (715,927) | |||
| Welfare | 430 | (478) | (48) | |||
| Mission grants Unrealised gains/losses Ministers pension fund Alternative ministries fund |
(1) 57,362 |
(4,528) (2,388) |
483,632 | (4,528) 483,631 57,362 (2,388) |
||
| Birchwood mission | (5525) | (5525) | ||||
| Another Space | 17,861 | (12,450) | 5,411 | |||
| 867,113 | (1,089,767) | 483,632 | 260,978 | |||
| TOTAL I'UNDS | 1,218,486 | (1,457,539) | 483,632 | 244,579 |
| FORTHE YEAR ENDED 31 | DECEMBER 2022 | |||
|---|---|---|---|---|
| 2022 | 2021 | |||
| f. | ||||
| INCOME AND ENDOWMENTS | ||||
| Donations and legacies Gifts Donations |
840 11,795 |
840 77,869 |
||
| 12,635 | 78,709 | |||
| Investment income |
||||
| Dividends and interest received |
177,059 | 176,527 | ||
| Charitable activities |
||||
| Proceeds fiom church disposals Proceeds fi'om manse disposal Grants |
505)026 1&486,685 3/77 |
516,254 268,895 9,826 |
||
| 1,995,688 | 794,975 | |||
| Other income Office sales Other income Rental income |
1,161 139)158 82g89 |
490 76,982 90,803 |
||
| 223&308 | 168,275 | |||
| Total incomtng resources |
2,408,690 | 1,218,486 | ||
| EXPENDITURE | ||||
| Other trading activities Purchases |
1,167 | 749 | ||
| Investment management Portfolio management |
costs | 24,171 | 27,434 | |
| Charitable activities Purchase ofmenses Ecumenical, mission and |
tmining | costs | 347,338 | 911,470 266,732 |
| 347)338 | 1,178,202 | |||
| Supportcosts | ||||
| Governance costs |
||||
| Wages Auditors' remuneration Carried for&sard |
116,194 8&758 124,952 |
120,258 3,258 123,516 |
| TRUST PROPERTY ADMINISTERED BYTHE MERSKY SYNOD OF UNITED REFORMED CHURCH |
||||
|---|---|---|---|---|
| DETAILED STATEMENT OF FINANCIAL AC~S | ||||
| FORTHE YEAR ENDED 31DECEMBER 2022 | ||||
| 2022 | 2021 | |||
| f | ||||
| Governance costs |
||||
| Bmught forward | 124,952 | 123,516 | ||
| Legal | 17&179 | 26,192 | ||
| Post print /k stationery | 5,418 | 7,006 | ||
| Telephone | 2)917 | 3,633 | ||
| Iosumnce | 32&t83 | 32,417 | ||
| Rent | 4,770 | 8,367 | ||
| Light dr heat | 3)756 | 1,651 | ||
| Repairs | 6)306 | 10,493 | ||
| Synod officers expenses | 6,517 | 5,247 | ||
| Sundry expenses | 37&418 | 16,468 | ||
| Synod conimittees expenses |
2)673 | 2,989 | ||
| ITsupport | 6,249 | 12,801 | ||
| Bank charges and interest | 437 | 374 | ||
| Support for ministers | pension fund | 1,050&000 | ||
| 1)301,575 | 251,154 | |||
| Total resources expended | 1,674)251 | 1,457,539 | ||
| Net income/(expenditure) | before gains and | |||
| losses | 734)439 | (239,053) | ||
| Realised recogoised gains | and losses | |||
| Realised gains/(losses) | on | fixed asset investments | (385,371) | 483,632 |
| Net income | 349,068 | 244,579 |