2023-03-31-accounts - The Co-Mission Churches Trust

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	Page	Page
Report ofthe Trustees	1	to	10
Report ofthe Independent Auditors	11	to	13
Consolidated Statement ofFinancial Activities		14
Charity Statement ofFinancial Activities		15
Consolidated Statement ofFinancial Position		16
Charity Statement ofFinancial Position
Consolidated Statement ofCash Flows		18
Notes to the Consolidated Statement ofCash Flows		19
Charity Statement ofCash Flows		20
Notes to the Charity Statement ofCash Flows		21
Notes tothe Financial Statements	22	to	41
Detailed Statement ofFinancial Activities	42	to	43

					2023	2022
			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
INCOME AND ENDOWMENTS	FROM	Notes	E	6	I	6
Donations and legacies		2	3,061,555	25,756	3,087,311	2,750,564
Charitable activities		5
Direct Charitable			112,037		112,037	82,579
Other trading activities Investment income Other income		3 4	9,987 7,777		9,987 7,777	2,984 2,775 ~422 545
Total			~3191356	~25 756	~3217112	~326144/
EXPENDITURE ON
Charitable activities
Direct Charitable Grants Payable Events and ministry			3,141,005	29,033	3,170,038	1,914,489 425,760 ~351212
Total			~3141005	29 033	~3170038	~2691'161
NET INCOME/(EXPENDITURE)			50,351	(3,277)	47,074	569,986
RECONCILIATION OF FUNDS
Total funds brought forward			8,354,319	3,277	8,357,596	7,787,610
TOTAL FUNDS CARRIED FORWARD			~BAN 670		~8404670	~857596

						2023	2022
				Unrestricted	Restricted	Total	Total
				funds	funds	funds	funds
			Notes	E		I
INCOME AND ENDOWMENTS		FROM
Donations and legacies			2	3r061r555	25,756	3,087,311	2,750,564
Charitable activities			5
Direct Charitable				19,258		19,258	30,869
Events and ministry				92,779		92,779	51,710
Investment income Other income			3	7,777		7,777	2,775 ~422 545
Total				~3181 69	~25 756	~3207 125	~3258463
EXPENDITURE ON
Charitable activities			6
Direct Charitable				2,332,958	29i033	2,361,991	1,910,059
Grants Payable Events and ministry				344,037 ~461610		344,037 ~461610	425,760 ~351212
Total				~3138605	~29 033	~3167638	~2687031
NET INCOME/(EXPENDITURE)				42,764	(3,277)	39,487	571,432
RECONCILIATION	OF FUNDS
Total funds brought	forward			8,361,871	3,277	8,365,148	7,793,716
TOTAL FUNDS CARRIED FORWARD				~8404 635	-	~8404 635	~8365148

					2023	2022
			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
FIXEDASSETS		Notes	6	6	I	6
Tangible assets Social investments		13 15	8,842,282		8,842,282	1,297,502 7523 757
			8,842,282		88427282	88217259
CURRENT ASSETS
Debtors Cash at bank		16	435,615 1869523		435,615 1869523	645,017 1724 906
			2,305,138		2,305,138	2,369,923
CREDITORS
Amounts falling due within	one year	17	(218,549)		(218,549)	(241,331)
NET CURRENT ASSETS			2 086 589		2 1156509	2 128592
TOTAL ASSETSLESSCURRENT LIABILITIES			10,928,871		10,928,871	10,949,851
CREDITORS
Amounts falling due after	more than one year	18	(2,524,201)		(2,524,201)	(2,590,255)
PENSION lIABILITY		22				(2,000)
NET ASSETS			066670		0404 670	8357 596
FUNDS		21
Unrestricted funds Restricted funds					8,404,670	8,354,319 3 277
TOTAL FUNDS					8404 670	~357 596

				2023	2022
		Unrestdicted	Restdicted	Total	Total
		funds	funds	funds	funds
	Notes	6	6	I	6
FIXEDASSETS
Tangible assets	13	8,842,246		8,842,246	1,297,465
Investments
Investments	14			1	1
Social investments	15				7523.757
		818427247		878427247	818211223
CURRENT ASSETS
Debtors	16	439,872		439,872	636,088
Cash at bank		1 865 266		1869266	1721923
		2,305,138		2,305,138	2,358,011
CREDITORS
Amounts falling due within one year	17	(218,549)		(218,549)	(221,831)
NET CURRENT ASSETS		2086 589		2086589	2136180
TOTAL ASSETS LESSCURRENT LIABIL1TIES		1019281836		10,928,836	10,957,403
CREDITORS
Amounts falling due alter more than one year	18	(2,524,201)		(2,524,201)	(2,590,255)
PENSION LIABILITY	22				(2,000)
NET ASSETS		8 404 635		8.404.635	8 365 148
FUNDS	21
Unrestricted funds Restricted funds				8,404,635	8,361,871 32»
TOTALFUNDS				8 0 635	8365189

			2023	2022
		Notes
Cash flows from operating activities
Cash generated from operations Loan interest paid		1	512,493 ~99246	8,274 ~74237
Net cash provided by/(used	in) operating	activities	~413247	~65963)
Cash flows from investing	activities
Purchase oftangible fixed assets Purchase ofsocial investments Sale oftangible fixed assets Interest received			(63,055) (146,662) ~7777	(810,464) (1,148,844) 771,464 ~2775
Net cash used in investing activities			~200840)	1185069
Cash flows from financing	activities
New loans in year Loan repayments in year			~67790	1,645,000 ~42 085
Net cash (used in)/provided	by financing	activities	~67790)	~1602915
Change in cash and cash	equivalents	in
the reporting period Cash and cash equivalents	at the		144,617	351,883
beginning ofthe reporting	period		~1724906	~1373023
Cash and cash equivalents	atthe end of
the reporting period			~i869 523	~1724906

								2023 6		2022I
	Net income	forthe		reporting		period (as per the Statement	of
	Financial Activities)							47,074		569,986
	Adjustments	for:
	Depreciation	charges						187,594		37,160
	Profit on disposal of		fixed assets						(422,545)
	Interest received							(7,777)		(2,775)
	Loan interest							99,246		74,237
	Decrease/(increase)		in debtors					209,402	(256,810)
	(Decrease)/increase Difference between		in creditors pension charge and cash contributions					(22,046) ~2000		9,021
	Net cash provided			by operations				~512493	~8274
2.	ANALYSIS	OF CHANGES			IN	NET DEBT
								Other
								non-cash
						At 1/4/22	Cash flow I	changes	Al'	31/3/23
	Net cash
	Cash at bank					~1724906	~144617		~1869523
						~1724906	~144617		~1869523
	Debt
	Debts falling	due
	within 1year					(67,381)		736		(66,645)
	Debts falling after 1year	due				~590255		~66054	~524 201
						~2657636		~66790	2	590846
	Total					~93273D	191617	667911		721323

			2023	2022
		Notes		6
Cash flows from operating activities
Cash generated from operations Loan interest paid		1	500,219 ~99246	(25i823) ~4237
Net cash provided by/(used	in) operating	activities	400 973	~100060)
Cash flows fmm investing	activities
Puirchase uf Iungible fixed assets Purchase of social investments Sale of tangible fixed assets Interest received			(63,055) (145,563) ~7777	(810,428) (1,108,982) 771,464 305
Net cash used in investing activities			200 841	~1147641)
Cash flows from financing	activities
New loans in year Loan repayments in year			100,000 ~156789	1,645,000 ~42 085
Net cash (used in)/provided	by financing	activities	~56789)	~1602915
Change in cash and cash the reporting period Cash and cash equivalents	equivalents atthe	in	143,343	355,214
beginning ofthe reporting	period		~1721923	~1366709
Cash and cash equivalents	at the end of
the reporting period			~1865266	~1721923

					2023 f	2022I
Net income for the		reporting		period (as per the Statement of
Financial Activities)					39,487	571,432
Adjustments for:
Depreciation charges					187,594	37,160
Profit on disposal of	fixed assets					(422,545)
Interest received					(7,777)	(305)
Interest receivable						(2,470)
Loan interest					99,246	74,237
Loan waiver					(10,000)
Decrease/(increase)	in debtors				196,215	(242,411)
Decrease in creditors Difference between	pension		charge and cash contdibutions		(2,546) ~2000)	(40,921)
Net cash provided		by/(used		in) operations	~500219	~25 823)

ANALYSIS OF CHANG
	At 1/4/22	Cash flow	At 31/3/23
	f	I	6
Net cash
Cash at bank	~1721923	~143343	~1865266
	~1721923	~143343	~1865266
Debt
Debts falling due within 1year Debts falling due after 1year	(67,381) ~2590 255)	736 ~66054	(66,645) ~2524 201
	~2657 636)	~66790	~2590846
Total	~935713	~210 133	725580

DONATIO	NS AND	LEGACIES —CONSOLIDATED AND CHARIT	Y
			2023 f	2022 f
Donations	and grants		~3087311	~2750 S64
OTHER TRADING		ACTIVITIES - CONSOLIDATED
			2023	2022f
Surplus on	granting	of leases	~9987	~2984

				2023f	2022
Deposit account interest Other interest receivable				7,777	305 ~2470
				~7777	~2775
INCOME FROM	CHARITABLE	ACTIVITIES -CONSOLIDATED	AND CHARITY
		Activity		2023f	2022f
Other charitable Events income	income	Direct Charitable Events and ministry		19,258 ~92 779	30,869 ~51710
				~112037	~82579

					Grant
					funding	of
					activities		Support
				Direct	(see note		costs (see
				Costs	7)		note 8)	Totals
				6	6		6
Direct chaditable				2,350,204			11,787	2,361,991
Grants payable Events and ministry				~461610	344,037			344,037 ~461 610
Charitable activities costs —Charity Other trading activities				2,811,814	344,037		11,787 2 000	3,167,638 ~2400
Charitable activities costs - Consolidated				~2811814	~344 037		~14187	~3170038
GRANTS PAYABLE —CONSOLIDATED AND CHARITY
							2023	2022I
Grants Payable							~344 037	~425 760
The total grants	paid to	institutions	during the	year were as follows:
							2023	2022I
Other external	giving						205,723	2302427
Planting support							6,584	59,643
Co-Mission membership		contributions					~92 551	~103591
							~304858	~393 661
The total grants	paid to	individuals	during the	year were as follows:
							2023	2022
							6	6
Other external	giving						39,179	~32 099

						Governance
Direct Charitable					Management f ~2029	costs f ~12 158	Toia!s I ~14 187
Support	costs,	included		in the above, are as follows:
Management
						2023	2022
						Direct	Total
						Charitable	acbvities
							f
Legal and professional				fees		~2029	~1824
Governance		costa
						2023	2022
						Direct	Total
						Charitable	activities
						f	f
Auditors' Auditors'	remuneration remuneration			for non audit work		4,660 ~7498	6,360 ~11457
						~12 158	~17817
SUPPORT COSTS-CHARITY
						Governance
					Management f	costs f	Totals
Direct Charitable					~2029	~9758	~II 787
Support costs, included				in the above, are as follows:
Management
						2023	2022
						Direct	Total
						Charitable	activities
						f	f
Payroll fees						~2029	~1824
Governance costs
						2023	2022
						Direct	Total
						Charitable	activities
						f	f
Auditors' Auditors'	remuneration remuneration		for non audit work			3,360 ~6398	3,060 ~10327
						~9758	~13387

Net inco	me/(expenditure	) is stated after charging/(crediting):
			2023I	2022 6
Auditors'	remuneration		3,360	3,060
Auditors'	remuneration	for non audit work	6,398	10,327
Depreciation -owned		assets	187,594	37,160
Surplus	on disposal of	fixed assets		~422 545)

Net inco	me/(expenditure	) is stated after charging/(crediting):
			2023I	2022 6
Auditors'	remuneration		4,660	6,360
Auditors'	remuneration	for non audit work	7,498	11,457
Depreciation - owned		assets	187,594	37,160
Surplus	on disposal of	fixed assets		~422 545)

STAFFCOS	T	S —CO	NSOLIDATED AND	CHARITY
					2023 6	2D22I
Wages and salaries					1,068,199	956,127
Social security Other pension		costs costs			125,567 ~166055	111,986 ~153402
					~1359821	~1221515
The average	monthly		number ofemployees	during the year was as follows;
					2023	2D22
Administration					13	13
Ministry					33	30
					46	43

The number ofemployees w	hose	employee	benefits (	excludin	g em	ployer pension	costs) exceeded	660,000was:
							2023	2022
6100~001 1110g000							1
Key management remuneration
							2023	2022
							6	6
Saladies and other short-term Post-employment benefits	benefits						65,162 6 Dttt	63,266 ~5666
							71 152	68932
Key management includes certain senior controlling the activities ofthe charity.			employees	who	have	authority and	responsibility for	planning and
COMPARATIVES FORTHE STATEMENT OF FINANCIAL					ACTIVITIES —CONSOLIDATED
						Unrestricted	Restricted	Total
						funds I	funds I	fundsI
INCOME AND ENDOWMENTS		FROM
Donations and legacies						2,588,205	162,359	2,750,564
Charitable activities
Direct charitable						72,579	10,000	82,579
Other trading activities Investment income Other income						2,984 2,775 ~422 545		2,984 2,775 ~422 545
Total						~3089088	172359	~3261447
EXPENDITURE ON
Charitable activities
Direct charitable Grants payable Events and ministry						1,900,430 378,548 331016	14,059 47,212 20 196	1,914,489 425,760 ~351212
Total						~609994	~81467	~2691461
NET INCOME Transfers between funds						479,094 ~173711	90,892 ~173711	569,986
Net movement in funds						652,805	(82,819)	569,986
RECONCILIATION OF FUNDS
Total funds brought forward						7,701,514	86,096	7,787,610
TOTAL FUNDS CARRIED	FORWARD					~8354319	~3277	~857596

			Unrestricted	Restricted	Total
			funds	funds	funds
			6	I	6
INCOME AND ENDOWMENTS		FROM
Donations and legacies			2I588,205	162,359	2,750I564
Charitable activities
Direct charitable			20,869	10,000	30,869
Events and ministry			51,710		51,710
Investment income Other income			2,775 ~422 545		2,775 ~422 545
Total			3I086i104	172,359	3,258,463
EXPENDITURE ON
Charitable activities
Direct charitable			1,896,000	14,059	1,910,059
Grants payable Events and ministry			378,548 ~331016	47,212 ~20 196	425,760 ~351212
Total			~2605 564	~81467	~2687031
NET INCOME Transfers between	funds		480,540 ~173711	90,892 ~173711)	571,432
Net movement in	funds		654,251	(82,819)	571,432
RECONCILIATION	OF FUNDS
Total funds brought	forward		7,707,620	86,096	7,793,716
TOTAL FUNDS CARRIED FORWARD			~8361 71	~3277	~8365 1'l8

			Improvements	Fixtures
	Freehold	Long	to	and
	property I	leasehold I	property f	fittings I	Totals I
COST
At 1Apdil 2022 Additions Reclassification	1,340,001 ~7669319	36	42,515	51,842 2D,540	1,391,879 63I055 ~7669319
At 31 March 2023	9,009,320	36	~42 515	~72382	~9124253
DEPRECIATION
At 1April 2022 Charge for year	60,500 ~179500		~1062	33,877 ~7032	94,377 ~187594
At 31 March 2023	240 000		~1062	~40909	~281971
NET BOOK VALUE
At 31March 2023	~8769320	36	~41453	~31473	~8842 282
At 31 March 2022	~1279501	36		17965	~1 297 502
TANGIBLE FIXEDASSETS-CHARITY
			Improvements	Fixtures
		Freehold	to	and
		properly f	properly	fittings I	Totals
COSY
At 1April 2022 Additions Reclassification from social investments		1,340,000 ~766932D	42,515	51,842 20,540	1,391,842 63,055 ~7669320
At 31 March 2023		~900932D	~42 515	~72382	~9124217
DEPRECIATION
At 1 April 2022 Charge for year		60,500 179500	~1062	33,877 7 032	94,377 ~187594
At 31March 2023		~240 000	~1062	~40 9D9	~281971
NET BOOK VALUE
At 31 March 2023		~8769 320	~41453	~31473	~8842 246
At 31 March 2022		~1279 5DD		17965	~1297465

FIXEDASSET INVESTMENTS —CHARITY
	Shares	in
	group
	undertakings
	6
MARKET VALUE
At 1April 2022 and 31 March 2023
NET BOOK VALUE
At 31March 2023		1
At 31March 2022		1

SOCIAL INVESTMENTS —CONSOLIDATED AND CHARIT	Y
	Other
	investments
	6
MARKET VALUE
At 1April 2022 Additions Reclassification of property	7,523,757 145,562 ~7669319)
At 31 March 2023
NET BOOK VALUE
At 31 March 2023
At 31March 2022	7 523 757

DEBTORS:AMOUNTS FALLING DUE WITHI	N ONE YEAR-CONSOLIDATED
	2023	2022
	6	I
Other debtors Gift aid debtor Prepayments	274,757 86,310 ~74 548	402,053 133,780 ~109184
	~435 615	~645 017

DEBTORS:AMOUNTS FALLING DUE WITHIN ON	E YEAR—CHARITY
	2023	2022
	I	6
Other debtors Gift aid debtor Funds held by subsidiary Prepayments	274,757 86,310 4,257 ~74 548	405,053 133,780 ~97255
	439 872	636088

		2023	2022
			I
Bank loans and overdraits	(see note 18)	66,645	67,381
Social security and other	taxes	66,260	39,095
Other creditors			10,500
Accrued expenses		~85644	~124355
		~218549	~241331

CREDITORS: AMOUNT	S FALLING DUE WITHIN ONE YEA	R - CHARITY
		2023	2022
		I	6
Bank loans and overdrafts	(see note 18)	66,645	67,381
Social secudty and other	taxes	66,260	39,095
Accrued expenses		~85 644	~115355
		~218549	~221831

					2D23	2022
					I
Bank Other	loans loans	(see (see	note note	19) 19)	2,329,201 ~195000	2,385,255 ~205 ODD
					~2524 201	~2590255

LOANS —CONSOLIDATED AND CHARITY
An analysis ofthe maturity of loans is given below:
	2023 I	2022 6
Amounts falling due within one year on demand: Bank loans	~66645	~67381
Amounts falling between one and two years:
Bank loans - 1-2years	~73 139	~71453
Amounts falling due between two and five years: Bank loans - 2-5 years Other loans - 2-5 years	234,808 ~195000	229,433 ~205 000
	429 808	~434 433
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5yr by instalments	2,021,254	2,084,369

Minimum lease payments under non-cancellable operatin	g leases fall due as follows:
	2023	2022
	6	I
Within one year Between one and five years	164,849 ~67 533	165,975 ~66 844
	232382	232 819

			Net
			movement	At
		At 1/4/22	in funds	31/3/23
		I	6
Unrestricted	funds
General fund		8,354,319	50,351	8,404,670
Restricted funds
Other		3,277	(3,277)
TOTAL FUNDS		~8357 596	~47 074	~8404 670

TOTAL FUNDS			~8357 596	~47 074	~8404 670
Net movement in funds,	included	in the above are as follows:
			Incoming	Resources	Movement
			resources I	expended I	in funds
Unrestricted funds
General fund			3,191,356	(3,141,005)	50,351
Restricted funds
Building ForThe Future			10,000	(10,000)
Other Giving Fund (CCB House)			756 ~15000	(4,033) ~1500D)	(3,277)
			~25 756	29033	3 277
TOTAL FUNDS			~3217112	~3170038)	~47 074

Comparative	s for movement in f	unds
				Net	Transfers
			movement	between	At
		At 1/4/21	in funds I	funds I	31/3/22 I
Unrestricted	funds
General fund		7,701,514	479,094	173,711	8,354,319
Restricted funds
Giving Fund -	Specific Gifts	67,400	106,311	(173,711)
Reach Global		4,848	(4,848)
Redeemer QP		2,364	(2,364)
The Boathouse Other	Aus	11,484	(11,484) ~3277		~3277
		~86D96	~90 892	~373711	3177
TOTAL FUNDS		~7787610	~569986		~8357 596

						Net
						movement	At
					At 1/4/22	in funds	31/3/23
						6
Unrestricted		funds
General	fund				8,361,871	42,764	8,404,635
Restricted funds
Other					3,277	(3,277)
TOTAL	FUNDS				~8365 148	~39487	~8404635
Net movement		in funds,	included	in the above are as follows:
					Incoming	Resources	Movement
					resources	expended	in funds
					6	6	6
Unrestricted		funds
General	fund				3,181,369	(3,138,605)	42,764
Restricted funds
Building	For The Future				1D,DDD	(10,DDD)
Other Giving	Fund (COB House)				756 ~15000	(4,D33) ~15000)	(3,277)
					~25756	~29 033	~3277)
TOTAL FUNDS					~3207 125	~3167638)	~39 487

Comparatives	for	movement in fu	nds
				Net	Transfers
				movement	between	At
			At' 1/4/21	in funds	funds	31/3/22
			6	5	6	6
Unrestricted	funds
General fund			7,707,620	480,540	173,711	8,361,871
Restricted funds
The Balham housing		fund	67,400	106,311	(173,711)
Reach Global			4,848	(4,848)
Redeemer QP			2,364	(2,364)
The Boathouse Other	Aus		11,484	(11,484) ~3277		~3277
			~86096	~90892	~173711	3 277
TOTAL FUNDS			~7793716	~571432		~8365148

		Dec 2022	Dec 2021	Dec 2020
Discount rate Price inflation Increase to total pensionable	payroll	n/a n/a n/a	0.0% n/a -1.5%	0.2% 3.1% 16%

		2023I	2022 E
INCOME AND ENDOWMENTS
Donations and legacies
Donations and grants		3,087,311	2,750,564
Investment income
Deposit account interest Other interest receivable		7,777	305 ~2470
		7,777	2,775
Charitable activities
Events income Other charitable income		92,779 ~19258	51,710 ~30869
		112,037	82,579
Other income
Gain on sale oftangible fixed assets			~422 545
Total incoming resources		3,207,125	3,258,463
EXPENDITURE
Charitable activities
Wages Social security Pensions Housing and property costs Insurance Office costs - The Factory Postage and stationery Sundries Bank charges Bank loan interest payable Events and ministry costs Children's work costs Web server costs Bookstall costs Refreshments Equipment Travel Professional services Depreciation offreehold property Improvements to property Plant and machinery Grants paid in furtherance ofchaditable Grants paid	objects	1,068,199 125,567 166,055 462,054 6,116 149,090 39,875 22,986 1,574 99,246 374,771 31,594 22,493 5,636 12,902 16,788 2,969 16,305 179,500 1,062 7,032 304,858 ~39179	956,127 111,986 153,402 387,524 7,653 51,521 39,757 21,643 6,406 74,237 297,541 30,885 28,713 1,554 7,417 13,815 18,719 33,500 3,660 393,661 ~32099
		3,155,851	2,671,820

		2023 6	2022I
Support costs
Management Payroll fees		2,029	1,824
Governance costs
Audilnrs' remuneration Auditors' remuneration	for non audit work	3,060 ~6698	3I060 ~10327
		~9758	~13387
otal resources expended		~3167638	~2687 31
etincome		~39 487	~571432