| Page | Page | ||
|---|---|---|---|
| Report ofthe Trustees | 1 | Io | 4 |
| Statement ofTrustees' Responslhllitles |
|||
| Report efthe Independent Auditors |
6 | io | 6 |
| Consolidated Statement of Financial Activities |
|||
| Science Sheet | 10 | ||
| Consolidated Balance sheet |
|||
| Consolidated Cash Flow Statement |
12 | ||
| Notes to the Cash Flow Statement | 13 | ||
| Notes to the Financial Statements | 14 | io | 23 |
| Oetailed Statement of Financing Activities |
24 | to | 25 |
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| INCOME AND ENDOWSIENTS FROM | Notes | fullds 2 |
fund | funds f |
funds 2 |
|
| Donations snd legacies |
2 | 1,791,101 | 1,312,841 | 3,108,942 | 4,252,797 | |
| Charitable activities |
||||||
| Charitable Activity |
430,940 | 350419 | ||||
| Other trading activities Investment income |
3 4 |
89,323 5800 |
89,323 ~5600 |
65,814 864 |
||
| Total | 2,316901 | «1312.904 | ~3629'805 | ~4879994 | ||
| EXPENDITURE ON | ||||||
| Raising funds Trading activity Charitable activity |
6 | 22,314 23,239 «1467,482 |
4,543 | 22,314 23,239 1,4.72,025 |
23)238 20,926 1432,633 |
|
| Total | «1513035 | ~4543 | ~1517578 | «1476.797 | ||
| NET INCOME | 803,886 | 1,308,381 | 2,112,227 | 3,203,197 | ||
| RECONCILIATION | OF FUNDS | |||||
| Total funds brought | forward | 4,935,184 | 2,932,149 | 7,867,333 | 4,664,136 | |
| TOTAL FUNDS CARRIED FORWARD | 5,739,050 | ~4,240510 | ~9979460 | ~78 7,333 |
| 31 | IEaroh 2023 | ||||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| Unrestricted | Restricted | Total | Total | ||
| funds | fund | funds | funds | ||
| FIXEDASSETS | Notes | 2 | 6 | ||
| Tangible assets Investments |
11 12 |
3,889,107 1 |
5,046,778 - |
8,935,885 1 |
3,526,552 1 |
| 3,889,1Q8 | 5,046,778 | 8,935,686 | 3,526,553 | ||
| CURRENT ASSETS | |||||
| Debtors Prepayments and accrued Income Gash at bank arid in hand |
13 | 506,796 10,736 ~1384913 |
424,913 | 506,796 10,735 ~1809826 |
472,483 1,981,484 1 946,330 |
| 1,902,¹44 | 424,913 | 2,327,357 | 4,400,297 | ||
| CREDITORS | |||||
| Amounts fa8lng due within one year |
14 | (61,862) | (1,231,181) | (1,293,043) | (66,197) |
| NET CURRENT ASSETS | 1 840 582 | ~806268) | 1034314 | 4334100 | |
| TOTAL ASSETSLESSCURRENT | |||||
| LIABILITIES | 5,729,69Q | 4,240,510 | 9,970,200 | 7,860,653 | |
| NET ASSETS | 5729690 | 4240 510 | 9970200 | 7,860,653 | |
| FUNDS | |||||
| Unrestricted funds Restricted funds |
6,729,690 ~4240,510 |
4,928,504 2,932,149 |
|||
| TOTAL FUNDS | 9,970,200 | 7,860653 |
| Unrestricied | Restricted | 2023 Total |
2022 Total |
|||
|---|---|---|---|---|---|---|
| FIXEDASSETS | Notes | funds 6 |
fund f |
funds 6 |
funds f |
|
| Tangible assets | 19 | 3,904,373 | 5.046,778 | 8,951,151 | 3646877 | |
| 3,904,373 | 5,046,778 | 6,951,151 | 3,545,877 | |||
| CURRENTASSETS | ||||||
| Stocks Debtors Prepayments and Cash at bank and |
accrued income in hand |
20 | 362 487,590 10,737 1,402 796 |
424,913 | 352 487,590 '10,737 ~1827709 |
451,935 1,981,484 ~1957.681 |
| CREDITORS | 1,901,475 | 424,913 | 2,326,388 | 4,391,100 | ||
| Amounts falling due within one year |
21 | (66,798) | (1,231,181) | (1,297,979) | (69,644) | |
| NET CURRENT ASSETS | ~1834,677 | ~806266 | ~1,028 409 | ~4321456 | ||
| TOTAL ASSETS | LESSCURRENT | |||||
| LIABILITIES | 5,739050 | ~440,510 | ~9979580 | ~7867,333 | ||
| FUNDS | 22 | |||||
| Unrestricted funds Restricted funds |
5,739,050 ~4240 510 |
4,935„184 ~2932 149 |
||||
| TOTAL FUNDS | ||||||
| 9,979,560 | ~7867,333 |
| SOUL CHURCH LTO | SOUL CHURCH LTO | |||
|---|---|---|---|---|
| CASH FLOW STATEMENT | ||||
| forthe year ended 31 March 2023 | ||||
| Notes | 2023 f |
2022 6 |
||
| Cash flows from operating activities |
||||
| Cash generated frcm operatiens Interest paid |
1 | 4,094,004 ~13,838 |
1,141,462 ~12578 |
|
| Net cash provided by operating activities |
4 0eo,iss | ~1126,884 | ||
| Gash flows from Investing | activlf | les | ||
| Purchase oftangible sxed assets Interest mceived |
(5,446,920) 5,600 |
(1,096,212) 864 |
||
| Net cash used in Investing |
activities | ~5441.320) | ~1095348) | |
| Gash flows from flnanslag | activities | |||
| New loans in year | ~1231182 | |||
| Net cash provided by financing activities |
~1,231 182 | |||
| Change in cash and cash | equivalents | |||
| In the reporting period Cash and cash equivalents |
at the | (129,972) | 33,536 | |
| beginning ofthe reporting |
period | ~1957681 | ~1924145 | |
| Cash and cash equivalents ofthe reporting period |
atthe | end | ~1,827709 | 1 957661 |
Cash Flow Statem forthe year ended 31Marsh 2023 |
Cash Flow Statem forthe year ended 31Marsh 2023 |
ent | ||||
|---|---|---|---|---|---|---|
| RECONCIUATION ACTfVTIES |
OF NET INCOME TO NET CASH FLOW FROM | OPERATING | ||||
| 2023 | ||||||
| Net income for the Financial Activities) Adjustmente for. |
reporting | Period (aspsr the Statement of | 8 2,107,728 |
3,203,197 | ||
| Depreciadon charges Interest received |
41,648 | 5'l,109 | ||||
| Bank and other charges Dscressel(increase) In debtors |
(5,600) 13,836 |
(564) 12,578 |
||||
| (Decrease)fincrease | in credhors | 1,840,121 | (2,144,305 | |||
| Decrease/(increase) | In stock | (3,377) ~352 |
19„197 550 |
|||
| Net cash provided | by operations | ~4094004 | ~1141462 | |||
| 2. | ANALYSIS OF CHANGES IN NET FUNDS | |||||
| CaSh Sow | At31,3.23 | |||||
| Net cash | 8 | 8 | ||||
| Cash et bank and in | hand | ~1967881 | ~129,97 | ~1627709 | ||
| ~I,957 681 | ~f2997 | ~1&27709 | ||||
| Debt | ||||||
| Debts felling due within | 1year | ~1231 181 | ~1231181 | |||
| ~1231 '181 | ~1231 '181 | |||||
| Total | ||||||
| 1 957681 | ~1361153 | 596528 |
forths year ended 31March |
forths year ended 31March |
forths year ended 31March |
2023 |
||
|---|---|---|---|---|---|
| OTHER TRADING ACTIVITIES.GROUP | |||||
| 2023 | 2022 | ||||
| E | E | ||||
| Event ticket Sales Soul Enterprise Trading Ltd |
29,857 ~59 66 |
21,821 ~43993 |
|||
| ~89323 | 65,814 | ||||
| INVE8TMENT INCOME —GROUP | |||||
| 2023 | 2022 | ||||
| E | |||||
| Interest | ~5600 | ee4 | |||
| INCOME FROM CHARITABLE ACTIVITIES.GROUP | |||||
| 2023 | 2022 | ||||
| AcBvity | E | ||||
| Cafe, boaks and resources Pre&cheat children Sundry Income |
Charitable Gharitable Gharitable |
Achvity Activity Activity |
112 404,991 ~25 837 |
463 320,616 39,440 |
|
| ~430 940 | ~360519 | ||||
| CIU(BITABLE ACTIVITIES | COSTS-GROUP | ||||
| Direct | Support | ||||
| Costs (see | costs (ses | ||||
| nots 7) | note 8) | Totals | |||
| E | |||||
| Charitable Activity |
1,381,272 | 90,753 | ~1472,025 | ||
| DIRECT COSTS OF CHARiTAELE ACTIVITIES-GROUP | |||||
| 2023 | 2022 | ||||
| Trustees' remuneration etc Slal'f costs Rent afpremises Insurarree Light and heat Telephone Pastoral cere casts Sundries Traysl.snd subsistence Global missions Ministry purchases (food) Ministry contractors Conference costs Hire cfequipment Donations, gifts and Bowers Honorariums Printing, advertiskrg and publicity Cleaning and hygiene costs Water hlaintsnance Small equipment purchases and repair |
E 45,0ee 717,261 30,203 17,835 43,745 9,260 2,357 31,297 37,943 141,822 67.165 57,805 13,12IB 27,764 21,056 13,113 17,731 22,277 4,670 7,595 37316 |
46,935 661,465 28„712 7,796 46,498 10,161 23,946 31,485 165,300 41,536 56,121 7,323 37,048 23,740 12,658 18,886 29.193 5,751 10,691 41,581 |
|||
| Carried forwanl | 1,356,409 | 1,306,824 |
| aemane co forthe year ended 31 March 2023 |
ntinued | |||
|---|---|---|---|---|
| DIRECTCOSTS OF | CHARITABLE ACTIVITIES -GROUP -contiriued | |||
| 2023 | 2022 | |||
| Brought forward Hosting expenses Training and development Security, health and safety stc. Supply teachers Management overheads |
2 1,356,409 2,715 7,177 4,066 7,365 3640 |
1,306,524 6,939 3,455 537 3,063 |
||
| 1r381,272 | ~1320,820 | |||
| 8. | SUPPORT COSTS-GROUP | |||
| Governance | ||||
| Charitable Activity |
Management 2 69,721 |
costs 2 21,032 |
Teleia 2 90,753 |
|
| Support costs, included | iri the above, em as follows: | |||
| 2023 | 2022 | |||
| Charitable | Total | |||
| ActMty | activities | |||
| Trustees' remuneration Postage and stationery Love in Action |
etc | 2 22,535 5,734 |
5 23,467 4,145 |
|
| Depreciation oftangible Auditors' remuneration |
assets | (194} 41,646 |
9,571 51,108 |
|
| Auditors' remuneration |
for non audit | 5,090 | 5,444 | |
| work | ||||
| Professional fees | 550 | 500 | ||
| Interest payable and similar charges | 1,554 ~13638 |
6,000 12,578 |
||
| 111613 |
| STAFFCOSTS ~ GROUP | ||
|---|---|---|
| 2023 | 2022f | |
| Wages and salaries Social security costs Other pension costs |
713,968 55,746 15,160 |
565,085 53,428 13,354 |
| ~784 864 | 731867 |
| The average monthly number ofemployees |
during the year was as follows: | |
|---|---|---|
| 2023 | 2022 | |
| Employees | 46 | 50 |
| TANGIBLE FIXEDASSETS ~ | CHARITY | |||
|---|---|---|---|---|
| Fixtures | ||||
| Freehold | and | Motor | ||
| propsriy | 5tsngs | vehides | Totals | |
| 8 | 5 | 5 | 2 | |
| COST | ||||
| At 1 April 2022 Additions |
3,847,796 ~5433,903 |
614,806 8.478 |
51,475 | 4,513,877 5442,381 |
| At 31 March 2623 | 9.281899 | 623,084 | 51,475 | ~9,958258 |
| DEPRECIATION | ||||
| At 1 April 2022 Charge for year |
390,051 ~2558 |
550,132 26,490 |
47,142 ~4000 |
987,325 33,048 |
| At 31 March 2023 | 392,609 | ~576622 | ~51 142 | ~1020373 |
| NET BOOK VALUE | ||||
| At 31 Maroh 2023 | 8,889,990 | ~46462 | 333 | ~8,935885 |
| At 31 March 2622 | ~3,457 745 | 64,474 | 4,333 | ~3525,552 |
| Shares tn | ||||
|---|---|---|---|---|
| group | ||||
| undertaldng | ||||
| MARKET VALUE | 5 | |||
| At 1 April 2020 and 31 March 2023 | ||||
| NET BOOK VALUE | ||||
| At 31 March 2023 | ||||
| At 31 March 2022 | ||||
| There were no investrnsnt | assets outside | the UK. | ||
| The company's Investments following: |
at the balance | sheet date in the share capital ofcompanies | indude the | |
| Soul Enterprtse Trading |
Ltd | |||
| Registered office:4Mason Nature ofbusiness: Trading |
Road, Norwich, | NR6 6RF | ||
| Class ofshare Ordinary |
holding 100 |
|||
| 2023 | 2023 | |||
| Aggregate capital and reserves |
9,359 | 6,681 |
| Soul Enterprise Trading Limited is Induded In these consolidated gnancial DEBTORS.'AMOUNTS FALLING DUE WITHIN ONE VEAR -CHARITY |
statements. | |
|---|---|---|
| Trade debtors ' | 2023 8 |
2022 5 |
| Amounts owed by group undertakings Other debtors |
418,280 38,228 51,278 |
468,552 2,931 |
| ~472483 | ||
| ' Trade debtors includes 6318282ofPledged income (2022r 878041K |
| CREDITORS, AMOUNTS FAL | CREDITORS, AMOUNTS FAL | CREDITORS, AMOUNTS FAL | LING | DUE WITHIN ONE YEAR ~CHA | RITY | |
|---|---|---|---|---|---|---|
| Stewardship loan 'A' Trade creditors Snead security and other taxes Olher creditors Accruals and deferred income |
~16771 2023 f 1,231,181 17,017 28,074 |
2022 f 26,068 14,184 1,530 24,415 |
||||
| 1,2~93043 | 66,197 | |||||
| The Stewardship | lean. 'A' was | repaid | in full in April 2023. | |||
| MOVEMENT IN FUNDS - CHARITY |
||||||
| Net | ||||||
| movement | At | |||||
| Unrestricted funds |
At 1.4.22 | in funds f |
31.3.23 f |
|||
| General fund | 4,928,504 | 801,186 | 5,729,690 | |||
| Restricted funds | ||||||
| Restricted | 2,932,149 | 1,308,361 | 4,240,510 | |||
| TOTAL FUNDS | 7,880,653 | ~2109,547 | ~9970200 | |||
| Net movsmerit in funds, included |
in the above srs as follows: | |||||
| Incoming | Resources | Movement | ||||
| Unrestricted funds |
resources f |
expended f |
in funds f |
|||
| Unrestricted | 2,274.026 | (1.472,840) | 801,186 | |||
| Restricted filnds | ||||||
| Restricted | 1,312,904 | (4,543) | 1,306,361 | |||
| TOTAI. FUNDS | ~3588930 | ~1,477383 | 2,109,547 | |||
| Compsratlves for movement |
in | funds | ||||
| Het | ||||||
| movement | At | |||||
| At 1A,21 f |
in funds f f |
31,3.22 | ||||
| Unrestricted funds |
||||||
| General fund | 4,305,197 | 623,307 | 4,928,504 | |||
| Restricted funds | ||||||
| Restricted | 357,856 | 2,574.293 | 2,932,149 | |||
| TOTAL FUNDS | ~4663,053 | 3,197,600 | 7,860,653 |
| Incoming | Resoumes | Resoumes | Movement | ||
|---|---|---|---|---|---|
| Unresfrl ctsd funds | I'esourcas axf&ended f |
In funds f |
|||
| Unrestricted | 2,053,172 | (triI39,885) | 623;307 | ||
| Restricted flmds | |||||
| Restricted | 2,586,074 | (11,791) | 2,574,293 | ||
| TOTAL FUNDS | ~4649246 | ~1,451,548) | ~3'197„600 | ||
| A current year 12months | and prior year 12mongrs | combined positiOn isas follows: |
|||
| Nst | |||||
| Unrestricted funds |
At 1.4.21 f |
movement in funds f |
31,3.23 | ||
| General fund Restrictsd funds |
4,305,197 | 'l,424.493 | Bs729690 | ||
| Restricted | |||||
| 3,882.654 | 4,240,510 | ||||
| TOTAL FUNDS | ~4663,053 | 5,307,147 | 9970,200 | ||
| A current year 12 months above are ss fogowa |
and prior year 12 months | combined net movemsnt in funds, |
Included in the |
||
| incoming | Resources | Movement | |||
| Unrestricted funds |
resources f |
expended 5 |
in funds | ||
| Unrestricted | 4,337,198 | (2,912,705) | trt24,493 | ||
| Restricted funds | |||||
| Restricted | 3,,898,978 | (16,324) | 3,882,554 | ||
| TOTAL FUNDS | 8,238178 | ~2929,029) | 5,307,147 |
| Freehold | Fixtures | Motor | Plant 8 | ||
|---|---|---|---|---|---|
| COST | pmperty 6 |
8 fittings 6 |
vshloles | machinery 6 |
Totals |
| At 1 April 2022 Additions |
3,847,796 5,433,903 |
614,806 8479 |
51,475 | 23,468 4 539 |
4,537,345 ~5446,921 |
| At 31Matc 2023 | 9~281,699 | 823,085 | 51.475 | ~28007 | ~9,984 266 |
| DEPRECIATION | |||||
| At 1 April 2022 Charge foryear |
390,051 2555 |
550,132 26.490 |
47,142 4.000 |
4,143 8,599 |
991,468 41.647 |
| At31 March 2023 | ~392 609 | ~576 622 | ~51 142 | 12,742 | 1033115 |
| NET SQOK VALIJE | |||||
| At 31 March 2023 | 8~869,090 | 46,463 | 333 | 15,265 | ~8951 151 |
| At 31 March 2022 | 3467,745 | ~94 474 | 4,333 | ~19325 | 3545677 |
| CREDITORS: AMOU | NTS FALLING DUE WITHIN O | NE YEAR -GROUP | |
|---|---|---|---|
| 2023 | |||
| Stewardship loan 'A' Trade creditors |
1,231,181 | ||
| SoCial security and other taxes Other creditors |
17,282 32,'l86 |
27,5'l5 14.184 |
|
| Accruals and defamed | Income | 600 16,771 |
1830 26,415 |
| 1,297,979 | 69,644 |
| Unrestricted | Restricted | 2023 Total |
2022 Total |
|
|---|---|---|---|---|
| fund 6 |
fuhds 8 |
Funds | Fundsf | |
| Fixed assets Net current assets |
3,904,373 1,834377 |
6,048,778 ~806.266) |
8,951;151 1.028A09 |
3,545,877 ~4,321458 |
| 5. D D |
. ~RD |
99,580 | 18lt 3M |
| SOUL CHURCH LTD | ||
|---|---|---|
| DETAE.EDSTATEMENT OF FINANCIAL ACTIVITIES | ||
| forths year ended 31March 2923 | ||
| 2023 | 2022 | |
| 6 | 6 | |
| INCOIEE AND ENDOWMENTS | ||
| Donagons and legaaies |
||
| Offerings end gifts Sift aid Grants |
2,393,892 203,870 508,380 |
2,014,678 202„806 ~2,035313 |
| 3,103,942 | 4,252,797 | |
| Other trading activities | ||
| Event ticket sales Soul Enterprise Trading Lkl |
29,857 ~5486 |
21,821 ~43993 |
| Investment income |
89,323 | 65,814 |
| Intsfast | 5,600 | |
| Charftabls astlvTiies |
||
| Cafe, books end resources | 1'l2 | 463 |
| Pre-schemed childmn Sundry Income |
404,991 ~25837 |
320,616 ~39440 |
| 430940 | 360,519 | |
| Total inaoming resources | 3,629,805 | 4,679,994 |
| EXPENDITURE | ||
| ,Other trading activities | ||
| Cafe and resoume purchases Saul Enterprise Trading Ltd |
22,314 23439 |
23,238 20,929 |
| 45,553 | 44,167 | |
| Charitable activrgea | ||
| Trustees' remunemtlan etc Wages Rent ofpremises Insurance Light and heat Telephone Pastoral care costs Sundries Travel and subsistence Global mbsions Ministry purchases (faad) Ministry contractors Conference costs Carried Tarvmrd |
45,068 717,261 36,203 17,836 43.745 9,260 2,357 31,297 37,943 141,822 57,165 57,805 13,126 1,204,887 |
48,935 661,465 28,712 7,798 46,498 10,161 23,946 31,485 165,'aoo 41,536 56,121 7,323 1,127,276 |
| SOUL CHURCH LTD | SOUL CHURCH LTD | |||
|---|---|---|---|---|
| DETAILED STATEMENT OF FINANCIALAOIIVITIEB forthe year ended 31 March 2023 |
||||
| 2023 | ||||
| Charitable activities |
||||
| Brought forward | ||||
| Hire ofequipmsnt | 1,204,887 | 1,127,278 | ||
| Donations, gifts and flowers |
27.784 | 37,048 | ||
| Honorariums | 21,056 | 23/40 | ||
| Printing, advertising a'nd publicity Cleaning and hygiene costs Water |
13,113 17,731 22,278 |
12,858 18586 29,193 |
||
| Maintenance Small squipmsnt purchases Hosting expenses |
snd repair | 4,67ll 7.595 37,318 |
5,75"I 10,85tl' 41,680 |
|
| Training and development Security, health and safety etc. Supply teachers |
2,715 7,177 4,055 |
6939 3,455 |
||
| Management overheads |
7„365 ~3540 |
537 3,063 |
||
| 1,381,272 | 1320,81'7 | |||
| Support costs | ||||
| Management | ||||
| Trustees' remuneration |
etc | |||
| Postage end stationery Love in Action |
22,535 5;'734 |
23.487 4,145 |
||
| Depreciation Oftangible |
assets | (I94) 41,546 |
9,571 51 108 |
|
| 89,721 | 88,291 | |||
| Governance costs | ||||
| Auditors' remuneration |
||||
| Auditors' remuneration Professional fess |
for non audit work | 5,090 550 |
5,444 500 |
|
| Bank and other charges | 1.554 13838 |
5,000 ~12578 |
||
| 21 032 | ||||
| Totalresourcss expended |
~tt7 578 | ~176797 | ||
| Nst income | ||||
| ~2112 227 | ~303197 |