| Page | |||
|---|---|---|---|
| Trustees' annual report |
|||
| Independent examiner's report to the trustees |
|||
| Statement offinancial activities |
|||
| Statement offinancial position |
|||
| Statement ofcash flows | 10 | ||
| Notes to the financial statements | |||
| The following pages do not form part of |
the financial statements | ||
| Detailed statement offinancial activities |
20 | ||
| Notes to the detailed statement |
offinancial | activities | 21 |
| 2023 | ||||||||
|---|---|---|---|---|---|---|---|---|
| Note | ||||||||
| Fixed assets | ||||||||
| Tangible fixed assets | 2,226,000 | 1,628,161 | ||||||
| Investments | 20,850 | 20,808 | ||||||
| 2,246,850 | 1,648,969 | |||||||
| Current, assets | ||||||||
| Debtors | 14 | 12,769 | 13,511 | |||||
| Cash at bank and | in | hand | 836,939 | 560,043 | ||||
| 849,708 | 573,554 | |||||||
| Creditors: amounts | falling | due within one year | 15 | 106,318 | 147,495 | |||
| Net current assets | 743,390 | 426,059 | ||||||
| Total assets less | current | liabilities | 2,990,240 | 2,075,028 | ||||
| Net assets | 2,990,240 | 2,075,028 | ||||||
| Funds ofthe charity | ||||||||
| Unrestricted funds: |
||||||||
| Revaluation | reserve | 1,335,691 | 737,852 | |||||
| Other unrestricted | income funds | 1,654,549 | 1,337,176 | |||||
| Total unrestricted | funds | 2,990,240 | 2,075,028 | |||||
| Total charity funds | 2,990,240 | 2,075,028 |
| Cash flows from operating | activities | activities | |||
|---|---|---|---|---|---|
| Net income/(expenditure) | 317373 | (51,534) | |||
| Adjustments for: |
|||||
| Other interest receivable and similar income | (22,449) | (2,292) | |||
| Interest payable and similar |
charges | 114 | 185 | ||
| Accrued (income}/expenses | (48„663) | 15,948 | |||
| Changesin: | |||||
| Trade and other debtors | 742 | 39,929 | |||
| Trade and other creditors | '7,486 | 219 | |||
| Cash generated from operations |
254,603 | 2,455 | |||
| Interest paid | (114) | (185) | |||
| Interest received | 22,449 | 2,292 | |||
| Net cash from operating activities |
276,938 | 4,562 | |||
| Cash flows from Investing | activities | ||||
| Purchases ofother investments |
(660) | ||||
| Proceeds from sale ofother | investments | 618 | |||
| Net cash (used in}/from investing | activities | (42) | |||
| Net increase in cash and cash |
equivalents | 276,696 | 4,584 | ||
| Cash and cash equivalents | at beginning | ofyear | 560,043 | 555,459 | |
| Cash and cash equivalents | at end ofyear | SM,939 | 560,043 |
| 4. | Donations | and | lega | cies | |||||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||||
| Funds | 2023 | Funds | 2022 | ||||||
| Donations | |||||||||
| Assessment | or Share | 449,619 | 449,619 | 467,808 | |||||
| Church contribution | -cost | of | |||||||
| layworkers | 25,000 | 25,000 | 25,000 | 25,000 | |||||
| Other grants and donations | 6,858 | 6,858 | 27,693 | 27,693 | |||||
| Sale of Bunbury | and | Tiverton | |||||||
| churches | 466,807 | 466,807 | |||||||
| 948,284 | 948,284 | 520,501 | 520,60'I | ||||||
| 5. | Charitable | activities | |||||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||||
| Funds | 2023 | Funds | 2022 | ||||||
| Rental income | 26,873 | 26,873 | 16,848 | 16,848 | |||||
| 6. | Investment | income | |||||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||||
| Funds | 2023 | Funds | 2022 | ||||||
| E | F | ||||||||
| Bank interest receivabie | 10,379 | 'I0,379 | 1,070 | 1,070 | |||||
| investment | income | 12,070 | 12,070 | 1,222 | 1,222 | ||||
| 22,449 | 22,449 | 2,292 | 2,292 | ||||||
| 7. | Expenditure | on | charitable | activities | by fund type | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||||
| Funds | 2023 | Funds | 2022 | ||||||
| E | |||||||||
| Direct charitable | activities | 678,779 | 678,779 | 589,650 | 589,650 | ||||
| Support costs | 1,454 | 1,454 | 1,525 | 1,525 | |||||
| 680,233 | 680,233 | 591,175 | 591,175 |
| 8. | Expenditure | on | charitabl | e acti |
vities by activity type |
|||
|---|---|---|---|---|---|---|---|---|
| ACtlvl tIeS | ||||||||
| undertaken | Support | Total funds | Totai fund | |||||
| directly | costs | 2023 | 2022 | |||||
| Direct charitable | activities | 678,779 | 678,779 | 589,650 | ||||
| Governance | costs | 1,454 | 1,454 | 1,525 | ||||
| 678,779 | 1,454 | 680,233 | 591,175 | |||||
| 9. | independent | examination | fees | |||||
| 2023 | 2022 | |||||||
| Fees payable | to | the independent | examiner for: | |||||
| Independent | examination | ofthe | financial statements | 1,100 | 1,100 |
| full-time | equivalent employees during the year |
is analysed as follows: |
|
|---|---|---|---|
| 2023 | 2022 | ||
| No. | No. | ||
| Number | ofstaff | 11 | 11 |
| Tangible fixed assets | |
|---|---|
| Land and | |
| buildings | |
| Cost | |
| At 1 September 2022 | 1,628,161 |
| Revaluations | 597„839 |
| At 31August 2023 | 2,228,000 |
| Depreciation At 1 September 2022 and 31August 2023 |
|
| Carrying amount |
|
| At 31August 2023 | 2,228,000 |
| At 31 August 2022 |
| investments | |
|---|---|
| Cash or | |
| cash | |
| equivalents | |
| Cost or valuation | |
| At 1 September 2022 | 20,808 |
| Additions | 660 |
| Disposals | (618) |
| At 31August 2023 | 20,850 |
| Impairment | |
| At 1 September 2022 and 31August 2023 | |
| Carrying amount |
|
| At 31August 2023 | 20,850 |
| At 31 August 2022 | 20,808 |
| 14. | All investments Debtors |
shown | above are held at valuation. | ||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| E | F | ||||
| Prepayments | and accrued income | 12,769 | 13,511 | ||
| 15. | Creditors: amounts | falling due within one year | |||
| 2023 | 2022 | ||||
| Trade creditors | 20„525 | 13,039 | |||
| Accruais and | deferred | income | 85,793 | 134,456 | |
| 106,318 | 147,495 |
| At | Gains and | At | 31Aug | ||||
|---|---|---|---|---|---|---|---|
| 1 Sep 2022 | Income | Expenditure | Transfers | losses | 2023 | ||
| F | |||||||
| Unrestricted | |||||||
| funds - General | |||||||
| funds | 1,157,740 | 519,365 | (535,302) | 81,000 | |||
| Unrestricted | |||||||
| funds - Circuit | |||||||
| Model Trust Fund | 179,436 | 478,241 | (144,931) | (81,000) | 431,746 | ||
| Revaluation | |||||||
| reserve | 737,852 | 597,839 | 1,335,691 | ||||
| 2,075,028 | 997,606 | (680,233) | 597,839 | 2,990„240 | |||
| At | Gains and | At | 31Aug | ||||
| 1 Sep 2021 | Income | Expenditure | Transfers | losses | 2022 | ||
| E | F | F | |||||
| Unrestricted | |||||||
| funds - General | |||||||
| funds | 1,140,765 | 538,517 | (580,571) | 59,029 | 1,157,740 | ||
| Unrestricted | |||||||
| funds " Clrcu('t | |||||||
| Model Trust Fund | 247,945 | 1,124 | (10,604) | (59,029) | 179,436 | ||
| Revaiuation | |||||||
| reserve | 737,852 | 737,852 | |||||
| 2,126,562 | 539,641 | (591,'I75) | 2,075,028 |
| Analysis ofnet as | sets between funds | ||
|---|---|---|---|
| Unrestricted | Total Funds | ||
| Funds | 2023 | ||
| Tangible fixed assets | 2,226,000 | 2,226,000 | |
| Investments | 20,850 | 20,850 | |
| Current assets | 849,708 | 849,708 | |
| Creditors less than | 1 year | (106,318) | (106,318) |
| Net assets | 2,990,240 | 2,990,280 | |
| Unrestricted | Totai Funds | ||
| Funds | 2022 | ||
| Tangibie fixed assets | 1,628,161 | 1,628,161 | |
| Investments | 20,808 | 20,808 | |
| Current assets | 573,554 | 573,554 | |
| Creditors less than | 1 year | (147,495) | (147,495) |
| 2,075,028 | 2,075,028 |
| Income and endowments | Income and endowments | |||
|---|---|---|---|---|
| Donations and legacies |
||||
| Assessment or Share |
449,619 | 467,808 | ||
| Church contribution - |
cost of layworkers | 25,000 | 25,000 | |
| Other grants and donations | 6„858 | 27,693 | ||
| Sale of Bunbury and |
Tiverton churches | 466,807 | ||
| 948,284 | 520,501 | |||
| Charitable activities |
||||
| Rental income | 16,848 | |||
| Investment income |
||||
| Bank interest receivable | 10,379 | 1,070 | ||
| Investment income |
12,070 | 1,222 | ||
| 22,449 | 2,292 | |||
| Total income | 539,641 | |||
| Expenditure | ||||
| Expenditure on charitable |
activities | |||
| Wages and salaries | 306,400 | 306,735 | ||
| Employer's NIC |
15,444 | 17,590 | ||
| Pension costs | 3,078 | 2,442 | ||
| Other post-retirement | benefits | 35,000 | ||
| Rates and water | 25,721 | 25,857 | ||
| Repairs and maintenance | 46,581 | 42,083 | ||
| Insurance | 6,397 | 5,869 | ||
| Other establishment | 6,250 | 1,930 | ||
| Other motor/travel costs |
7,898 | 4,787 | ||
| Legal and professionai | fees | 1,009 | 1,448 | |
| Telephone | 5,294 | 4,970 | ||
| Other office costs | 13„929 | 14,235 | ||
| Other interest payable | and similar charges | 114 | 185 | |
| Distdct assessment | 96„199 | 95,056 | ||
| Circuit/district payments |
6,472 | 9,897 | ||
| CPF levy taken | 137,947 | |||
| Other grants and donations | 1,500 | 39,531 | ||
| Donation returned |
(16,440) | |||
| 680,233 | 591,175 | |||
| Total expenditure | 591,175 | |||
| Net income/(expenditure) | (51,534) |
| 2023 | |||||
|---|---|---|---|---|---|
| Expenditure on charitable |
activities | ||||
| Direct charitable activities |
|||||
| Activities undertaken | directly | ||||
| Wages and salaries | 306,400 | 306,736 | |||
| Employer's NIC |
15„444 | 'l7,690 | |||
| Pension casts | 3,078 | 2,442 | |||
| Ministerial pension fund |
contribution | 35,000 | |||
| Utilities | 25,721 | 25,857 | |||
| Repairs 8 maintenance | 46,581 | 42,083 | |||
| lnsuf'ance | 6,397 | 5,869 | |||
| Gther establishment costs |
6,250 | 1,930 | |||
| Gther motor/travel costs |
?,898 | 4,?87 | |||
| Legal and professional | fees | {331) | 108 | ||
| Telephane | 5,294 | 4,970 | |||
| Gther office costs | 13,929 | 14,235 | |||
| District assessment | 96,199 | 95,056 | |||
| Circuit/district payments |
6,472 | 9,897 | |||
| CPF levy taken | 137,947 | ||||
| Gther grants and donations | 1„500 | 39,531 | |||
| Donation returned |
{16,440) | ||||
| 6?8,779 | 589,650 | ||||
| Governance costs | |||||
| Governance costs - accountancy |
fees | 1,340 | 1,340 | ||
| Bank charges | 114 | 185 | |||
| 1,454 | 1,525 | ||||
| Expenditure on charitable |
activities | 680,233 |