DocuSign Envelope ID: 11EA9995-9B0F-4EA8-ADD4-043B72B6F5DA
## **SHEPSHED WORD OF LIFE CHURCH**
**REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2021**
**Registered Charity No: 1137774**
**Cound & Co LLP Chartered Accountants 1 Princes Court Royal Way Loughborough Leics LE11 5XR**
**Tel: 01509 214163**
DocuSign Envelope ID: 11EA9995-9B0F-4EA8-ADD4-043B72B6F5DA
## **SHEPSHED WORD OF LIFE CHURCH**
**REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **CONTENTS**
- 1 – 6 Report of the Church Officers 7 Independent Examiners Report 8 Statement of Financial Activities 9 Statement of Assets and Liabilities 10 - 16 Notes to the Financial Statements
DocuSign Envelope ID: 11EA9995-9B0F-4EA8-ADD4-043B72B6F5DA
**- 1 -**
## **SHEPSHED WORD OF LIFE CHURCH**
**REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **REPORT OF THE CHURCH OFFICERS**
## **1 REFERENCE AND ADMINISTRATIVE DETAILS**
HM Revenue and Customs Charity Reference: EW03125
**Church Elders: Church Premises:** S J Clarke (Minister) 3, 5, 7 & 9 Kirkhill C D Jones Shepshed Leics LE12 9PA _and_ Belton Street Shepshed **Church Deacons:** Leics LE12 9AA D E Bottomley (Finance) P Cottrell (Fellowship) N Holmes (Administration) **Independent Examiners:** G I Goddard (Property) Cound and Co LLP 1 Princes Court Royal Way Loughborough Leics LE11 5XR **Managing Trustees:** S J Clarke (Minister) C D Jones **Bankers:** D E Bottomley The Co-operative Bank P Cottrell P.O.Box 250 N Holmes Delf House G I Goddard Southway Skelmersdale WN8 6WT
## **2 STRUCTURE GOVERNANCE AND MANAGEMENT**
The church is constituted under a trust deed dated 5 July 2010 and is a charity with an income (including all funds) of over £250,000 and is registered with the Charity Commission (registration number 1137774).
## **Appointment of Trustees**
The Trust Deed stipulates that:
The government of the Church shall be administered in full accordance with Biblical principles, the Officers being Elders and Deacons as taught in the New Testament, with the Ministers of the Church holding the office of teaching Elder. The Managing Trustees shall be Elders and Deacons of the Church and shall subscribe fully to the Church’s Statement of Faith and accept the Church Rules and have been in Membership (with the exception of the Ministers) for at least 12 months.
Every Managing Trustee after appointment or re-appointment must sign a declaration of willingness to act as a Charity Trustee of the Church before he may vote at any meeting of the Trustees.
DocuSign Envelope ID: 11EA9995-9B0F-4EA8-ADD4-043B72B6F5DA
**- 2 -**
## **SHEPSHED WORD OF LIFE CHURCH**
## **REPORT AND FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **Appointment of Trustees (continued)**
The number of Managing Trustees shall not be reduced to less than three. A new Managing Trustee or Managing Trustees may be appointed in the place of any one of the Trustees, who through death, retirement or any other causes, ceases to be a Managing Trustee or who desires to be discharged as a Managing Trustee or who refuses or is unfit to act or is incapable of acting therein.
The power of appointing new Managing Trustees shall be vested in the Church and such power shall be exercised by a special resolution of the Church.
## **Trustees Induction and Training**
As Managing Trustees are drawn solely from amongst the Elders and Deacons, they are already very familiar with the workings of the Church. As such, no specific formal training is given to new managing Trustees.
In order to make Managing Trustees aware of their legal responsibilities, all current trustees have been given a copy of CC3 “The Essential Trustee”. It is the church’s policy to give any prospective new elders or deacons a copy.
## **Organisation**
The Managing Trustees who have served during the year and since the year end are set out on page 1. Ian Hilder resigned as an elder and trustee this year. The rules for appointment are contained in the Church Constitution, and are as follows:-
## **a) Elders**
- Elders are to be men appointed to rule the Church and to exercise pastoral care and watch over the spiritual life of the Members. The Elders shall be answerable to Christ for the doctrine taught in and by the Church. They shall be responsible for the supply of the pulpit, the approval of the teaching materials used by the Church and literature distributed through its agencies. A man is eligible for election as an Elder, whose character, way of life and gifts accord with the requirements of Scripture as laid down in Titus 1:6-9 and 1 Timothy 3:1-7.
- In addition, he must be able to subscribe fully to the Church’s Statement of Faith and Church Rules, have submitted to believers’ baptism by immersion (except for health grounds which are acceptable to the Elders) and continue to uphold it as a New Testament ordinance and (with the exception of the Ministers) have been in Membership for at least 12 months.
- The nomination of an Elder shall be by the unanimous recommendation of the existing Elders. The nomination shall then be considered by the Deacons, who shall vote, and, if at least three-quarters of them are in agreement then the nomination shall be put as a recommendation to a Special Church Members Meeting where the Members shall vote by ballot.
- Elders appointed by the Church shall serve for an unlimited period.
## **b) Ministers**
- The Ministers are Elders with an additional and particular calling and responsibility for the preaching and teaching of God’s word, and prayer.
- In addition to the qualifications for Elders, in order to be eligible for election as a Minister, a man should be conscious of God’s call to the ministry of the word. He should have a proven preaching and teaching gift that has also been recognised by other churches.
DocuSign Envelope ID: 11EA9995-9B0F-4EA8-ADD4-043B72B6F5DA
**- 3 -**
## **SHEPSHED WORD OF LIFE CHURCH**
## **REPORT AND FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **c) Deacons**
- Deacons are appointed to exercise a spiritual ministry by taking charge of the temporal affairs of the Church and to relieve the Elders of responsibilities other than spiritual rule and ministry. Their duties shall include the organisation of those good works performed by the Church, secretarial and financial matters in connection with the life of the Church and the upkeep of its premises. Their service complements that of the Elders and should always be seen to serve the spiritual interests of the Church.
- A man is eligible for election as Deacon whose character and way of life accord with the requirements of Scripture as laid down in 1 Tim 3:8 – 13 and whose general abilities equip him to administer the temporal affairs of the Church and to make responsible decisions on its behalf. He must be able to subscribe fully to the Church’s Statement of Faith and accept the Church Rules and have been in Membership for at least 12 months.
- Nomination for the office of Deacon shall be by the Elders. Each deacon is appointed to be responsible for a specific area of service within the Church, as determined by the elders. Election shall be by ballot at the Annual General Meeting.
## **Missionary Support Policy**
The Church has continued to support several missionaries and missionary organisations in the UK, Europe and in other continents, through a combination of regular committed support and discretionary support. The Church aims to use at least 12.5% of its income on supporting missionary work.
## **3 OBJECTIVES AND ACTIVITIES**
The purpose of the charity is, for the public benefit, to advance the Christian faith in accordance with the Statement of Faith by but in no way limited to: -
- the public worship of the only true God as revealed in the Bible;
- the instruction of people in the Christian faith;
- the support of Christian mission work across the world; and
- the provision in the Name of Christ of spiritual, mental and physical help for those in need.
## **4 PUBLIC BENEFIT**
The trustees confirm that they have referred to the Charity Commission’s guidance on public benefit when reviewing the charity’s aims and objectives in planning future activities and policies.
The Church has had an unusual year, one of more limited activity, given the Covid restrictions and lockdowns that we have faced. Nevertheless, through the online services and online Thoughts for the Day which we established towards the beginning of the first lockdown, we have continued to welcome all member of the local community, and people from further afield, to our morning services of worship each Sunday. We have continued to provide a designated slot for children and young people in our online service.
DocuSign Envelope ID: 11EA9995-9B0F-4EA8-ADD4-043B72B6F5DA
**- 4 -**
## **SHEPSHED WORD OF LIFE CHURCH**
## **REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2021**
## **4 PUBLIC BENEFIT (continued)**
We have maintained telephone contact throughout the year on a weekly basis with a Romanian student from Loughborough University who has maintained his link with us, again online. We held an online Carol Service at Christmas and have kept in regular and frequent contact with people in 2 local care and nursing homes.
We have maintained a weekly midweek online prayer meeting and a time of online fellowship after the Sunday morning service, which has been attended by contacts further afield than Leicestershire and even overseas. We held online fellowship meetings and a Bible Study and Prayer meeting for ladies on alternate weeks and continued our monthly men’s breakfast (again online).
As best we could – and in a Covid-secure way – we kept in regular contact with members of the Day Centre, Mothers and Toddlers Group (Kirkhill Kangaroos) and the primary school group, Bright Sparks, telephoning, sending letters, Christian literature, and where appropriate video clips. One of our elders has continued to take online school assemblies both locally and at a school in Nottinghamshire where one of our members is a governor.
A member of the church took on a voluntary role with the Christians against Poverty charity which specialises in debt counselling for people in financial difficulty. She has been assisting local families. We continued our support of a Christian charity in Leeds which works with disadvantaged people and were able to send to them the gifts donated at Harvest.
The Church made further contributions to humanitarian relief, notable additional support to an orphanage in Myanmar and to a UK local charity which supports young, forced migrants who arrive as unaccompanied asylum seekers. The charity helps them to rebuild their lives and integrate into a community. Though more limited than usual, we did support the Christmas “shoe box” appeal for Samaritan’s Purse.
A number of our congregation assisted the vaccination programme at local volunteer centres.
Our Church website provides information both to the local community and to those further afield.
Once again, we conducted a number of funerals, sometimes at the request of families with some link to the church.
## **5 ACHIEVEMENTS AND PERFORMANCE**
The Church has met for worship, teaching and preaching and prayer each Sunday morning, mostly online this year, and these services were led, in the main, by two of our three elders, one of whom retired from the eldership (and Trusteeship) at the end of August. The teaching featured mostly the book of Joshua and Peter’s 1[st] epistle with other helpful messages interspersed.
Members were encouraged to continue to set aside Thursday evening as a time to pray and a dozen or so households signed in for a time of online prayer together. The matters for prayer were circulated to all by one of the elders who then led the online prayer time.
Little progress was made seeking to employ an assistant/trainee pastor and this was eventually put on hold during lockdown.
At the beginning of the first lockdown we established a “Helping Hands” system which twinned our more elderly and vulnerable folk with those younger in age who were able to assist with shopping and the like.
DocuSign Envelope ID: 11EA9995-9B0F-4EA8-ADD4-043B72B6F5DA
**- 5 –**
## **SHEPSHED WORD OF LIFE CHURCH**
## **REPORT AND FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **5 ACHIEVEMENTS AND PERFORMANCE (continued)**
We continue to actively support the young family we have sent to West Africa where they are continuing their missionary training. The work of another young family, who have been accepted to work in a hospital in Pakistan to serve both in nursing and in church work was put on hold due to Covid.
We resubmitted our planning application to redevelop the site at Kirkhill. This was successful and during the year the construction was all but completed, and the previous buildings have been demolished. We also agreed the sale of our site and building at Belton Street. In the process of this, almost £1m was raised for the new development, much from within the church, but also with the help of people far and wide partnering with us.
We succeeded in holding just one meeting with other Churches in Loughborough and East Leake this year, but this was hugely appreciated and informal links have been maintained throughout the year.
Once again, the love and support given by the Church to people with significant medical and bereavement needs in the congregation has been particularly encouraging.
## **6 FINANCIAL REVIEW**
Income for our **General Fund** received during the year totalled **£78,942** principally from the regular support of members of the church and congregation. Total expenditure during the year was **£56,566,** making a surplus of **£12,376** . Expenditure was reduced mainly due to the suspension of activities due to the Covid lockdown. In addition a loan of **£40,000** was made to the Building Fund.
Our **Building Fund** , established for the purpose of erecting a new building on our Kirkhill site, received donations, grants and other income of **£263,309,** additional finance was raised by loans received of **£304,000** together with the **£40,000** loan from the general fund. Total expenditure, primarily on the construction of the building was **£805,661** .
The **Robinsons Fund** for the support of one of our missionary families had an income of **£26,001** plu **s £10,000** donation from our general fund and expenditure of **£34,086** .
Our **Benevolent Fund** for the support of people in need had no income and made one payment of **£500** .
## **7 RESERVES POLICY**
The Church distinguishes between operational expenditure and exceptional expenditure. The operational expenditure is budgeted to not exceed the income. Significant items of expenditure are approved by the managing trustees, and where necessary, by the church members. There is a separate restricted fund, as mentioned above, which will be used for our new building
DocuSign Envelope ID: 11EA9995-9B0F-4EA8-ADD4-043B72B6F5DA
**- 6 -**
## **SHEPSHED WORD OF LIFE CHURCH**
## **REPORT AND FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **8 RISK MANAGEMENT**
No formal overall risk assessment has been undertaken. However, the Church has the following in place: -
- Full building and contents insurance.
- A check and maintenance of electrical equipment occurring regularly and for fire extinguishers annually.
- A Safeguarding Policy with nominated Safeguarding Officers and up to date DBS checks for youth workers.
- A Vulnerable Adults Policy with a nominated Safeguarding Officer.
- A Health & Safety Policy and certification.
- A finance Policy and Procedures.
- A Data Privacy statement.
- A full Covid risk assessment was made for our Belton Street premises and has been adhered to for all our meetings there.
## **Trustees’ responsibilities in relation to the financial statements**
The laws applicable to charities in England and Wales require the officers to prepare financial statements for each financial year which give a true and fair view of the church’s financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the officers are required to:
- select suitable accounting policies and then apply them consistently; make judgments and estimates that are reasonable and prudent; state whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the church will continue to function
The officers are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the church and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the officers and signed on their behalf by:
……………………………………….
25[th] May 2021
D E Bottomley
Finance Deacon
DocuSign Envelope ID: 11EA9995-9B0F-4EA8-ADD4-043B72B6F5DA
**- 7 -**
## **SHEPSHED WORD OF LIFE CHURCH**
## **INDEPENDENT EXAMINER’S REPORT TO THE OFFICERS OF**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **Independent Examiner's Report to the Officers of Shepshed Word of Life Church**
I report on the accounts of the charity for the year ended 31 March 2021 which are set out on pages 8 to 16.
## **Respective responsibilities of trustees and examiner**
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the Charities Act) and that an independent report is needed.
It is my responsibility to:
- examine the accounts under section 145 of the Charities Act;
- follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Charities Act; and
- state whether particular matters have come to my attention.
## **Basis of independent examiner's report**
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention:
- 1 which gives me reasonable cause to believe that, in any material respect, the requirements:
- to keep accounting records in accordance with section 130 of the Charities Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
D R Gradon MA FCA Cound & Co LLP 1 Princes Court Royal Way Loughborough Leics LE11 5XR
25[th] May 2021
DocuSign Envelope ID: 11EA9995-9B0F-4EA8-ADD4-043B72B6F5DA
**- 8 -**
## **SHEPSHED WORD OF LIFE CHURCH**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **FOR THE YEAR ENDED 31 MARCH 2021**
|INCOME
Donations and Legacies
Regular Offerings and Donations
Missionary Offerings
Gift Aid tax recoverable
Grants
Income from charitable activities
Car Park Rent
Book and Paper Sales
Investment income
Bank interest received
TOTAL INCOME
EXPENDITURE
Charitable Activities
Direct charitable costs
TOTAL EXPENDITURE
NET SURPLUS BEFORE TRANSFERS
Transfers between funds
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
TOTAL FUNDS BROUGHT FORWARD
PRIOR YEAR ADJUSTMENT
TOTAL FUNDS CARRIED FORWARD|Unrestricted
Restricted
Total-
Total
Funds
Funds
Funds
Funds
Notes
2021
2021
2021
2020
64572
230582
295154
178890
4823
-
4823
7917
9232
37169
46401
15365
-
20000
20000
-
220
-
220
980
95
-
95
285
-
1559
1559
2034
______
______
______
______
£78942
£289310
£368252
£205471
______
______
______
______
2
56566
34586
91152
135710
______
______
______
______
£56566
£34586
£91152
£135710
______
______
______
______
22376
254724
277100
69761
(10000)
10000
-
-
______
______
______
______
£12376
£264724
£277100
£69761
______
______
______
______
620300
350130
970430
900669
10
-
27474
27474
-
______
______
______
______
11
£632676
£642328
£1275004
£970430
______
______
______
______|
|---|---|
DocuSign Envelope ID: 11EA9995-9B0F-4EA8-ADD4-043B72B6F5DA
**- 9 -**
## **SHEPSHED WORD OF LIFE CHURCH**
## **STATEMENT OF ASSETS AND LIABILITIES AS AT 31 MARCH 2021**
||||2021||2020|
|---|---|---|---|---|---|
|FIXED ASSETS||||||
|Freehold Buildings|||1329024||500000|
|Equipment|||79111||75000|
||||_______||______|
||4||1408135||575000|
|CURRENT ASSETS||||||
|Cash at Bank||150208||384999||
|Gift Aid Tax Recovery not yet received|5|17756||11931||
|||______||______||
|||167964||396930||
|CURRENT LIABILITIES||||||
|Creditors|6|2095||1500||
|||____||_____||
|NET CURRENT ASSETS|||165869||395430|
||||_______||______|
|TOTAL ASSETS LESS CURRENT LIABILITIES|||1574004||970430|
|NON CURRENT LIABILITIES||||||
|Loans|7||299000||-|
||||_______||______|
|NET ASSETS|||£1275004||£970430|
||||_______||______|
|FUNDS||||||
|General Funds|||632676||620300|
|Restricted Funds:||||||
|Benevolent Fund|||2258||2758|
|Robinsons Missionary Support Fund|||39236||37321|
|Building Fund|||600834||310051|
||||_______||______|
||11||£1275004
_______||£970430
______|
These financial statements were approved by the Church Officers and Trustees on 25 May 2021 and signed on their behalf by
………………………………… D E Bottomley Finance Deacon and Managing Trustee
DocuSign Envelope ID: 11EA9995-9B0F-4EA8-ADD4-043B72B6F5DA
**- 10 -**
## **SHEPSHED WORD OF LIFE CHURCH**
## **NOTES FORMING PART OF THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **1. Accounting Policies**
- a) These financial statements have been prepared in accordance with the Charities SORP (FRS 102): ‘Accounting and Reporting by Charities, Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS102 the Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS102”) (effective 1 January 2016)’, FRS102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (effective September 2016) and the Charities Act 2011. The disclosure requirements of Section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.
The charity constitutes a public benefit entity under FRS102.
Assets and liabilities are initially recognised at historical cost or transactional value unless otherwise stated in the relevant accounting policy note and the financial statements are prepared on a going concern basis. The financial statements are prepared in sterling, which is the financial currency of the charity and rounded to the nearest £1.
- b) 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 the funding provider. The costs of raising and administering such funds are charged against the specific funds.
- c) Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable. The value of services provided by volunteers has not been included.
- d) Resources expended are recognised in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered.
- e) Depreciation is charged in such a way as to write off the cost of fixed assets over their estimated useful lives.
No depreciation has been charged this year as not all the assets are in use while the construction work is carried out.
## f) Judgements and Estimation Uncertainties
The trustees have given consideration to any judgements and uncertainties in these accounts and the only issue to note is that the Church’s going concern is based on the continued support from its congregation and members, who provide the majority of the income for the Church. However, there is no reason to suspect that this support will not continue in the future.
DocuSign Envelope ID: 11EA9995-9B0F-4EA8-ADD4-043B72B6F5DA
**- 11 -**
## **SHEPSHED WORD OF LIFE CHURCH**
## **NOTES FORMING PART OF THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2021**
|**2.**|**Charitable Expenses**
Unrestricted
Restricted
2021
2021
Pulpit Supplies
-
-
Literature, Books and Newspapers
617
-
Rates, Gas and Electricity
(1293)
-
Insurance
1011
-
Maintenance, Repairs & Equipment
1170
-
Salaries
40980
-
Services, Recordings & Meetings
901
-
Kitchen & Catering
40
-
Transport & Community Bus
103
-
Donations (see note 8)
10649
34286
Administration, Advertising & Stationery
218
-
Sundry Expenses
-
-
Accountancy fees
1800
300
Evangelistic Activity/Young People
370
-
New Building Costs
-
-
______
_____
£56566
£34586
_____
_____
Accountancy fees are split between;
Payroll and Bookkeeping services
1080
300
Independent Examination fees
720
-
____
___
£1800
£300
____
___|Total
Total
2021
2020
-
1500
617
646
(1293)
6380
1011
2039
1170
731
40980
43242
901
580
40
236
103
1661
44935
45938
218
318
-
71
2100
1920
370
2974
-
27474
______
______
£91152
£135710
______
______
1180
1200
720
720
____
____
£2100
£1920
____
____|Total
Total
2021
2020
-
1500
617
646
(1293)
6380
1011
2039
1170
731
40980
43242
901
580
40
236
103
1661
44935
45938
218
318
-
71
2100
1920
370
2974
-
27474
______
______
£91152
£135710
______
______
1180
1200
720
720
____
____
£2100
£1920
____
____|Total
2020|
|---|---|---|---|---|
||||1200
720
____
£1920
____||
DocuSign Envelope ID: 11EA9995-9B0F-4EA8-ADD4-043B72B6F5DA
## **- 12 -**
## **SHEPSHED WORD OF LIFE CHURCH**
## **NOTES FORMING PART OF THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2021**
|**3.**|**Staff Numbers and Costs**
Salaries
Social Security Costs
Less: Employment Allowance
Pension Contributions
Manse Expenses
Average number of employees|2021
26521
2060
(2060)
1269
13190
______
£40980
______
2
____|2020
28523
2160
(2160)
948
13771
______
£43242
______
2
____|
|---|---|---|---|
|||||
One of the two employees (S J Clarke) is a trustee and his remuneration was £38172 (2020: £37104). He receives remuneration for his role as Pastor and not for his role as a trustee.
No employee received emoluments in excess of £60000.
The total amount of remuneration benefits for trustees and key management personnel during the year was £38172 (2020: £37104).
DocuSign Envelope ID: 11EA9995-9B0F-4EA8-ADD4-043B72B6F5DA
**- 13 -**
## **SHEPSHED WORD OF LIFE CHURCH**
## **NOTES FORMING PART OF THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2021**
|**4.**
**5.**|**Fixed Assets**
Freehold
Church
Building
Cost
As at 1 April 2020
500000
Additions
829024
_______
Balance at 31 March 2021
£1329014
_______
Depreciation
At 1 April 2020
-
Charge for Year
-
______
Balance at 31 March 2021
-
______
Net Book Value
At 31 March 2021
£1329014
______
Net Book Value
At 31 March 2020
500000
______
**Debtors**
Trade Debtors
Gift Aid Tax Recoverable|Equipment
Total
75000
£575000
4111
833125
_______
_______
£79111
£1408125
_______
_______
-
-
-
-
______
______
-
-
______
______
£79111
£1408125
______
_______
75000
£575000
______
_______
2021
2020
-
-
17756
11931
_____
_____
£17756
£11931
_____
_____|Equipment
Total
75000
£575000
4111
833125
_______
_______
£79111
£1408125
_______
_______
-
-
-
-
______
______
-
-
______
______
£79111
£1408125
______
_______
75000
£575000
______
_______
2021
2020
-
-
17756
11931
_____
_____
£17756
£11931
_____
_____|Equipment
Total
75000
£575000
4111
833125
_______
_______
£79111
£1408125
_______
_______
-
-
-
-
______
______
-
-
______
______
£79111
£1408125
______
_______
75000
£575000
______
_______
2021
2020
-
-
17756
11931
_____
_____
£17756
£11931
_____
_____|Total|
|---|---|---|---|---|---|
||||_
_|||
|||||||
|||||£575000
_______||
|||||2020
-
11931
_____
£11931
_____||
DocuSign Envelope ID: 11EA9995-9B0F-4EA8-ADD4-043B72B6F5DA
**- 14 -**
## **SHEPSHED WORD OF LIFE CHURCH**
## **NOTES FORMING PART OF THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2021**
|**6.**
**7**
**8.**|**Creditors– Amounts Falling Due Within One Year**
2021
2020
Trade Creditors
-
-
Accruals
1980
1500
Pension Contributions
115
-
_____
_____
£2095
£1500
_____
_____
**Creditors– Amounts Falling Due After One Year**
2021
2020
Loans
299000
-
______
______
£299000
£
______
______
The loans are interest free and are from Charitable Trusts and individuals. The loans will be repaid as funds allow.
**Donations**
2021
2020
GBM – Brazil
1370
1320
UFM – Eastern Europe
960
1060
Caring for Life - Leeds
1460
960
AWM – Arab World
960
960
Pastor Training International
500
500
Reach Across
200
150
European Missionary Fellowship
200
150
Operation Christmas Child (shoebox)
65
105
TEAR Fund (Ladies Fellowship)
60
650
Cyprus (Swanson)
-
250
Christian Union Events Weeks
-
160
Peruvian Missionary
-
150
East Midland Churches Day
-
120
Christians Against Poverty
-
100
Myanmar Appeal – New Church Building
4650
8500
MERF Lebanon
575
-
Barnabas Fund – Covid 19
325
-
Caring for Life – Harvest Appeal
300
-
Stella’s Voice – Moldova
-
650
Benevolent payments
500
309
Robinsons Missionary Support Fund
33786
28868
Holmes Airfares
(976)
976
_____
_____
£44935
£45938
_____
_____|_
_|2020
-
1500
-
_____
£1500
_____|
|---|---|---|---|
||||2020
-
_____
£
_____|
DocuSign Envelope ID: 11EA9995-9B0F-4EA8-ADD4-043B72B6F5DA
**- 15 -**
## **SHEPSHED WORD OF LIFE CHURCH**
## **NOTES FORMING PART OF THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **9. Related Party Transactions**
Included in Creditors falling due after more than one year are loans made by trustees. The total amount owed by the Church at the year end was £39000.
Total donations made by trustees to the Church during the year was £82992.
Expenses reimbursed to the Trustees during the year was £4676.
|**10.**|**Fund Reconciliation**
Balance as at
1 April
2020
Income
Unrestricted Funds
620300
78942
Restricted Funds
Building Fund
337525
263309
Benevolent Fund
2758
-
Robinsons Support Fund
37321
26001
_______
_______
£997904
£368252
______
______|Expenditure
(56566)
-
(500)
(34086)
_______
£91152
______|Balance as at
31 March
Transfers
2021
(10000)
632676
-
600834
-
2258
10000
39236
_______
_______
£ -
£1275004
______
_______|
|---|---|---|---|
|||_|_|
The opening balance of the Building Fund includes £27474 which was the construction costs incurred in the year to 31 March 2020.
|**11.**|**Analysis of Net Assets by Fund**
Unrestricted
Restricted
Total
At 31 March 2021
Funds
Funds
Funds
Fixed Assets
575000
833135
1408135
Current Assets
19771
148193
167964
Current Liabilities
(2095)
-
(2095)
Creditors After More Than One Year
-
(299000)
(299000)
Loan owed by Building Fund
40000
(40000)
-
_______
_______
_______
£632676
£642328
£1275004
_______
_______
_______|
|---|---|
DocuSign Envelope ID: 11EA9995-9B0F-4EA8-ADD4-043B72B6F5DA
**- 16 -**
## **SHEPSHED WORD OF LIFE CHURCH**
## **NOTES FORMING PART OF THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2021**
|**Analysis of Net Assets by Fund**
Unrestricted
Restricted
At 31 March 2020
Funds
Funds
Fixed Assets
575000
-
Current Assets
46800
350130
Current Liabilities
(1500)
-
Creditors After More Than One Year
-
-
_______
_______
£620300
£350130
_______
_______|Total
Funds
575000
396930
(1500)
_______
£970430
_______|
|---|---|