2022-05-31-accounts - Bearfield Church

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

BEARFIELD CHURCH Accounts- 31st May 2022

BEARFIELD CHURCH

(A company limited by guarantee and not having a share capital)

Charity number: 1136765 Company number: 7254525

Accounts – 31st May 2022

INDEX

1-2. Report of the Trustees and General Information 3. Independent Examiner’s Report to the Trustees
Statement of Financial Activities
Balance Sheet
6-9. Notes to the Accounts

Registered in England and Wales No: 7254525

BEARFIELD CHURCH

REPORT OF THE TRUSTEES for the year ended 31st May 2022

The Trustees are pleased to present their annual report and financial statements of the charitable company for the year ended 31[st] May 2022 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and the charities Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland; FRS 102) issued in October 2019.

Reference and Administration Details

The charity’s name is Bearfield Church. Charity Registration Number: 1136765 Company Number: 7254525 Registered Office: 22b High Street, Witney, Oxon, OX28 6RB

Trustees and Directors

The Trustees of the charitable company (the charity) are its Directors for the purposes of company law. The Trustees and officers who served during the year and since the year end were as follows:

T Vaughton (Chairman) H Fuggle J Walker R Beesley (resigned 5[th] May 2022) T Yeomans (appointed 20[th] May 2022)

Objectives and Activities

The main objects of the charity are:

i) The advancement of the Christian faith in the UK and overseas. ii) To relieve persons in conditions of need, hardship or who are aged or sick. iii) To advance education in accordance with Christian principles. iv) To promote other charitable objects as decided by the Trustees from time to time.

In planning the activities of the charitable company the directors have considered the Charity Commission’s guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion.

Achievements and Performance

Bearfield Church’s activities are focused on supporting the Church community, the people of Bradford on Avon and some overseas missions. We have a full-time church pastor and run a variety of weekly events such as: church services, kids/young people’s clubs, old people’s groups and bible study groups. Financially our turnover grew and so did Church membership. We also hire out the church hall to local groups and societies.

It’s been another busy year as we’ve continued to manage the church buildings and finances to ensure we are in a good place practically and financially to support Bearfield as it moves forward with its vision.

BEARFIELD CHURCH

REPORT OF THE TRUSTEES

for the year ended 31st May 2022 ( Continued)

Achievements and Performance (continued)

Reflecting on this year…

Practically, there have been various maintenance and improvement projects around the building, with Robert and Jez managing (and often personally undertaking) most of these;

Stone wall between garden and neighbours removed and rebuilt.
Manse basement wall removed, rebuilt and meta railings added to add height and safety to the space.
Repaired damaged gutters and roof to prevent leaks.
Upgrade electrics where required.

We also have responsibility for employment and staff. Bex Cox is still our youth worker and doing a great job. David Jewell is still our full-time pastor but may be leaving in 2023.

We continue to investigate and plan for minor and major building work and are currently considering various projects including;

Improvements to the corridor.
An environmentally friendly heating solution to replace our very old boiler.

Financial Review

The total income for the year was £69,689 and total expenditure on charitable activities amounted to £66,674.

Reserves Policy

Our reserves policy is that we keep four months running costs in the account and we also have a quinquennial report done every five years so we can budget for upcoming/required building works over the following five years and we had one of these completed in 2016. Given the unforeseen expenditure which could arise in respect of the property the trustees consider that the level of reserves currently held is appropriate.

Structure, Governance and Management

Governing Document

Bearfield Church is a company limited by guarantee governed by its Memorandum and Articles of Association dated 14th May 2010. It is registered as a charity with the Charity Commission.

Appointment of Trustees

The trustees keep the composition of the board under review and will seek to appoint additional members with appropriate skills and expertise should the need arise. Interested parties are given details of the background of the charitable company in order to make them aware of current activities.

This report has been prepared in accordance with the special provisions relating to companies subject to the Small Companies Regime within part 15 of the Companies Act 2006.

Approved by the trustees on 19th February 2023 and signed on its behalf by:

T Vaughton

…………………………………..

T Vaughton – Trustee/Director

Bradford on Avon

BEARFIELD CHURCH

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES

I report to the trustees on my examination of the accounts of Bearfield Church for the year ended 31st May 2022.

Responsibilities and Basis of Report

As the charity’s trustees (and also 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 charitable company 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 your charity’s accounts as 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 confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or
the accounts do not accord with those records; or
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
the accounts have not been prepared in accordance with 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.

A P Williams BSc FCCA A J Carter & Co Chartered Accountants

22b High Street Witney Oxon OX28 6RB 22nd February 2023

BEARFIELD CHURCH

Statement of Financial Activities

(including an income and expenditure account)

for the year ended 31st May 2022

Note Income from: Donations and legacies 3 Other income 4 Investment income 5 Total incoming resources Expenditure on: Charitable activities 6 Total expenditure Net income/(expenditure) and net movement in funds for the year Transfer between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward	Unrestricted Restricted Total Funds Funds Funds 2022 £ £ £ 50,473 - 50,473 19,213 19,213 3 - 3 69,689 - 69,689 66,674 - 66,674 66,674 - 66,674 3,015 - 3,015 - - - 3,015 - 3,015 46,942 - 46,942 £49,957 £- £49,957	Total Funds 2021 £ 61,552 1,615 9
		63,176
		60,715
		60,715
		2,461 -
		2,461 44,481
		£46,942

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derives from continuing activities.

The notes on page 6 to 9 form part of these financial statements.

Registered in England and Wales: 7254525

BEARFIELD CHURCH

BALANCE SHEET

Note Current assets Cash at bank and in hand Debtors 11 Total current assets Liabilities Creditors falling due within one year 12 Net current assets Total assets less current liabilities Total net assets 13 The funds of the Charity Restricted income funds 14 Unrestricted income funds 14 Total unrestricted funds Total charity funds	2022 £ 41,444 9,563 51,007 1,050 49,957 49,957 £49,957 - 49,957 49,957 £49,957	2021 £ 38,344 9,630
		47,974 1,032
		46,942
		46,942
		£46,942
		- 46,942
		46,942
		£46,942

For the year ended 31st May 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors Responsibilities

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the act with respect to the accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the special provisions relating to companies subject to the Small Companies Regime with Part 15 of the Companies Act 2006.

These accounts were approved by the board of directors and authorised for issue on: 19th February 2023 and are signed on their behalf by:

T Vaughton ............................................. ) T Vaughton ) ) Directors/Trustees H Fuggle ) ............................................. ) H Fuggle

The notes on pages 6 to 9 form part of these financial statements

BEARFIELD CHURCH

NOTES TO THE ACCOUNTS

for the year ended 31st May 2022

1. Accounting Policies

The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a) Basis of Preparation

The financial statements have been prepared in accordance with the Charities: Statement of Recommended Practice (applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Public Benefit Entity

Bearfield Church meets the definition of a public benefit entity as defined by FRS 102.

Going Concern

The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern

b) Income Recognition Policies

Items of income are recognised and included in the accounts when all of the following criteria are met:

The charity has entitlement to the funds;
any performance conditions attached to the items of income have been met or are fully within the control of the charity;
there is sufficient certainty that receipt of the income is considered probable; and
the amount can be measured reliably.

Income received in advance of a specific performance or provision of other specified service is deferred until the criteria for income recognition are met.

c) Donated Services

In accordance with the Charities SORP (FRS 102) the general time of volunteers is not recognised in the accounts.

d) 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.

e) Fund Accounting
Unrestricted funds are available to spend on activities that further any of the purposes of the Charity. Designated funds are unrestricted funds of the Charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for the particular areas of the Charity’s work or for specific projects being undertaken by the Charity.

BEARFIELD CHURCH

NOTES TO THE ACCOUNTS

for the year ended 31st May 2022

f) Expenditure and Irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
- Expenditure on Charitable activities.
- Other expenditure represents those items not falling into any other heading.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

g) Debtors

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

h) Cash at Bank and in Hand Cash at bank and cash 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.
i) Creditors and Provisions
Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

2. Legal Status of the Charity

The charity is a company limited by guarantee and has no share capital.

3. Income from donations

Gifts and donations Grants Other income Fundraising Church activities and venue hire Other		2022 £ 46,038 4,435		2021 £ 59,721 1,831
		£50,473		£61,552
		2022 £ - 13,634 5,579 £19,213		2021 £ - 1,265 350 £1,615

4. Other income

BEARFIELD CHURCH

NOTES TO THE ACCOUNTS

for the year ended 31st May 2022

5. Investment income

Interest 6. Analysis of expenditure on charitable activities Ministry support Church leaders' fees and expenses Church services Gifts and donations Light and heat Church repairs and maintenance Building improvements Youth and children Office costs Outreach and church events Cleaning Insurance Accountancy Total 7. Net income/(expenditure) for the year This is stated after charging: Independent examiner's fee 8. Staff costs Salaries and Wages	2022 £ 3 £3 2022 Total £ 347 37,228 1,481 4,060 3,344 4,655 5,630 384 3,251 1,387 2,400 1,457 1,050 £66,674 2022 £ 1,050 2022 £ 35,358 £35,358	2021 £ 9
		£9
		2021 Total £ 241 36,999 252 3,605 8,146 2,735 - 406 3,364 890 1,872 1,173 1,032
		£60,715
		2021 £ 1,032
		2021 £ 36,183
		£36,183

No employees had emoluments in excess of £60,000 (2021: £Nil).

BEARFIELD CHURCH

NOTES TO THE ACCOUNTS

for the year ended 31st May 2022

9. Related party transactions

During the year the trustees and their close relatives made donations to the charity totalling £11,390.

There have been no further transactions with any of the trustees which require separate disclosure within the financial statements.

No trustees received any remuneration or were paid any expenses during the year (2021: £Nil).

10. Corporation tax

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

11. Debtors

Gift Aid 12.Creditors: amounts falling due within one year Accruals 13 Analysis of net assets between funds General Designated Fund Funds £ £ Cash at bank and in hand 41,444 - Other net current assets/(liabilities) 8,513 - Total £49,957 £- 14Analysis of charitable funds Analysis of movements in unrestricted funds Balance Incoming Resources 01.06.2021 resources expended £ £ £ General fund 46,942 69,689 (66,674) Total £46,942 £69,689 £(66,674)	Gift Aid 12.Creditors: amounts falling due within one year Accruals 13 Analysis of net assets between funds General Designated Fund Funds £ £ Cash at bank and in hand 41,444 - Other net current assets/(liabilities) 8,513 - Total £49,957 £- 14Analysis of charitable funds Analysis of movements in unrestricted funds Balance Incoming Resources 01.06.2021 resources expended £ £ £ General fund 46,942 69,689 (66,674) Total £46,942 £69,689 £(66,674)	2021 £ 9,630
		£9,630
		2021 £ 1,032
		£1,032
		Total £ 41,444 8,513
	£49,957 £-	£49,957
	Incoming Resources resources expended £ £ 69,689 (66,674)	Funds 31.05.2022 £ 49,957
£46,942	£69,689 £(66,674)	£49,957