Registered number: 07584098 Charity number: 1141375
Net Church Dartford (A company limited by guarantee)
## Unaudited
Trustees’ report and financial statements
for the year ended 31 December 2022
Document ID: 46d60581-e655-4772-94af-e95d36199b2e
Net Church Dartford (A company limited by guarantee)
## Contents
||Page|
|---|---|
|Reference and administrative details of the Charity, its Trustees and advisers|1|
|Trustees’ report|2-4|
|Independent examiner's report|5|
|Statement of financial activities|6|
|Balance sheet|7|
|Notestothefinancialstatements|8-22|
Document ID: 46d60581-e655-4772-94af-e95d36199b2e
Net Church Dartford
## (A company limited by guarantee)
Reference and administrative details of the Charity, its Trustees and advisers for the year ended 31 December 2022
|Trustees|R Morley|
|---|---|
||P Judd|
||T McAtear|
||D Brown (appointed 19 April 2023)|
||M Thomas (appointed 19 April 2023)|
||M Naidoo (appointed 19 April 2023)|
||D Durham (resigned 19 April 2023)|
||S Alex (resigned 19 April 2023)|
|Company registered||
|number|07584098|
|Charity registered||
|number|1141375|
|Registered office|30 Spital Street|
||Dartford|
||Kent|
||DA1 2DL|
|Senior Pastors|R Morley and K Morley|
|Accountants|Kreston Reeves LLP|
||Chartered Accountants|
||Montague Place|
||Quayside|
||Chatham Maritime|
||Chatham|
||Kent|
||ME4 4QU|
|Bankers|Reliance Bank|
||Faith House|
||23-24 Lovat Lane|
||London|
||EC3R 8EB|
||Kingdom Bank|
||Ruddington Fields Business Park|
||Mere Way|
||Ruddington|
||Nottingham|
||NG11 6JS|
|Independent Examiner|Susan Robinson|
||Kreston Reeves LLP|
||Montague Place|
||Quayside|
||Chatham Maritime|
||Chatham|
||Kent|
||ME44QU|
Page 1
Document ID: 46d60581-e655-4772-94af-e95d36199b2e
Net Church Dartford
## (A company limited by guarantee)
## Trustees’ report
## for the year ended 31 December 2022
The Trustees present their annual report together with the financial statements of the Charity for the year from 1 January 2022 to 31 December 2022. The Annual report serves the purposes of both a Trustees’ report and a Directors' report under company law. The Trustees confirm that the Annual report and financial statements of the Charity comply with the current statutory requirements, the requirements of the Charity’s governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
The Charity previously operated under the name Emmanuel Church Dartford.
## Objectives and activities
## a. Policies and objectives
To advance the Christian Faith and relieve poverty in the area of Dartford, Kent and elsewhere in the world.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
## Achievements and performance
## a. Review of activities
This year Net Church has continued to develop and grow both through it’s Sunday services and it’s pastoral and community programmes.
## Pastoral work and Church services.
The church has continued to grow in numbers with hundreds of people now attending the Sunday services. The church employs Pastors to offer pastoral care and support to it’s members. Smaller groups called connect groups are run fortnightly and overseen by volunteers offering a support network to members as well as Bible teaching. Groups are also run for Youth, Young adults, 18-30s and senior citizens. These groups offer support,friendship, mentoring and Christian teaching.
## Community programmes.
The Church is committed to the care of it’s wider community and as such runs a number of programmes. These consist of a weekly mothers and toddlers group, a weekly meal and social time for elderly people, weekly youth programme, support to the local food bank and the cold weather shelter for the homeless. As part of our mentoring programme for young people our youth pastor has been working closely with local schools and taking assemblies and teaching in lessons on life skills. Through our media department the church has run an apprenticeship scheme in content creation helping young people learn valuable skills to help them enter the workplace.The church actively supports a child sponsorship programme through compassion UK and gives financial and other support to around 300 children in Ethiopia.
We look forward to the future and to reaching, helping and connecting with our wider community.
Page 2
Document ID: 46d60581-e655-4772-94af-e95d36199b2e
Net Church Dartford
(A company limited by guarantee)
## Trustees’ report (continued)
for the year ended 31 December 2022
## Financial review
## a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
## b. Reserves policy
The Board of Trustees has established a policy whereby free reserves (defined as the amounts held as current assets less current liabilities in the general fund) of the Charity should be maintained at approximately two months of expenditure. Currently the free reserves amount to £297,992 and therefore are above the stated reserves policy.
As at 31 December 2022, the unrestricted reserves stood at £967,034, of which £669,042 was represented by the capital fund (reflecting property and equipment less the outstanding mortgage thereon), and £297,992 was held in general reserves (see note 14).
## c. Results for the year
During the year, the charity received income of £408,452 (2021: £309,746) and incurred expenditure of £393,352 (2021: £358,991). The charity had a surplus at year end of £15,100 (2021: deficit of £49,245).
## d. Principal risks and uncertainties
The Trustees have reviewed the risks to which a small charity operating with few employees is exposed. Appropriate procedures are in place to identify, monitor and review these risks on a regular basis.
## e. Restricted funds
The purpose of the individiual restricted funds is detailed in note 14.
## Structure, governance and management
## a. Constitution
Net Church Dartford is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 30 March 2011.
The Charity is constituted under a Memorandum of Association dated 30 March 2011 and is a registered charity number 1141375.
## b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association.
## c. Organisational structure and decision-making policies
The policy and operating decisions of the Charity rest with the Trustees who meet regularly to monitor the activities of the Charity.
Page 3
Document ID: 46d60581-e655-4772-94af-e95d36199b2e
Net Church Dartford
(A company limited by guarantee)
Trustees’ report (continued) for the year ended 31 December 2022
## Structure, governance and management (continued)
## d. Risk management
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.
The Trustees have reviewed the risks to which a small charity operating with few employees is exposed. Appropriate procedures are in place to identify, monitor and review these risks on a regular basis. The most significant risk facing the Charity is the potential for there to be a significant fall in the size of the congregation.
## Plans for future periods
As of 1st August 2023, the charity Net Church Dartford merged with its associated charity Net Church Sittingbourne (registered as Net Church with charity number 1054377), which has the same Trustee body. All assets and activities will be moved into the registration of Net Church Dartford, and Net Church Sittingbourne will be dissolved.
The Trustees will continue to support the objectives and activities of the Charity for the foreseeable future.
## Statement of Trustees’ responsibilities
The Trustees (who are also the Directors of the Charity for the purposes of company law) are responsible for preparing the Trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its income and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- ° select suitable accounting policies and then apply them consistently;
- e observe the methods and principles of the Charities SORP (FRS 102);
- ° make judgements and accounting estimates that are reasonable and prudent;
- e state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- e prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the Board of Trustees and signed on their behalf by:
R Morley Trustee
Date: 09/27/2023
Page 4
Document ID: 46d60581-e655-4772-94af-e95d36199b2e
Net Church Dartford (A company limited by guarantee)
## Independent examiner's report
for the year ended 31 December 2022
## Independent examiner's report to the Trustees of Net Church Dartford (‘the Charity’)
| report to the Charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2022.
## Responsibilities and basis of report
As the Trustees of the Charity (and 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 Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of the Charity’s accounts carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination | have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## Independent examiner's statement
Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. | confirm that | am qualified to undertake the examination because | am a member of Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
3. 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
4. the accounts have not been prepared in accordance with the 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)].
| 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.
**----- Start of picture text -----**
Signed: SY
**----- End of picture text -----**
## Susan Robinson
Dated: 27/09/2023 BA FCA FCIE DChA
## Kreston Reeves LLP
Chartered Accountants
Chatham Maritime
Page 5
Document ID: 46d60581-e655-4772-94af-e95d36199b2e
Net Church Dartford
## (A company limited by guarantee)
Statement of financial activities (incorporating income and expenditure account) for the year ended 31 December 2022
|||Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|
|||funds|funds|funds|funds|
|||2022|2022|2022|2021|
||Note|£|£|£|£|
|Income from:||||||
|Donations and legacies|3|-|396,829|396,829|289,399|
|Charitable activities|4|8,780|2,451|11,231|20,268|
|Investments|5|-|392|392|79|
|Total income||8,780|399,672|408,452|309,746|
|Expenditure on:||||||
|Charitable activities|6|8,901|384,451|393,352|358,991|
|Total expenditure||8,901|384,451|393,352|358,991|
|Net movement in funds||(121)|15,221|15,100|(49,245)|
|Reconciliation of funds:||||||
|Total funds brought forward||47,799|951,813|999,612|1,048,857|
|Net movement in funds||(121)|15,221|15,100|(49,245)|
|Totalfundscarriedforward||47,678|967,034|1,014,712|999,612|
The notes on pages8 to 22 form part of these financial statements.
Page 6
Document ID: 46d60581-e655-4772-94af-e95d36199b2e
Net Church Dartford
(A company limited by guarantee) Registered number: 07584098
Balance sheet as at 31 December 2022
||||2022||2021|
|---|---|---|---|---|---|
||Note||£||£|
|Fixed assets||||||
|Tangible assets|10||1,266,439||1,305,723|
|Current assets||||||
|Debtors|11|3,300||8,572||
|Cash at bank and in hand||349,025||305,598||
|||352,325||314,170||
|Creditors: amounts falling due within one||||||
|year|12|(19,637)||(21,112)||
|Net current assets|||332,688||293,058|
|Total assets less current liabilities|||1,599,127||1,598,781|
|Creditors: amounts falling due after more||||||
|than one year|13||(584,415)||(599,169)|
|Total net assets|||1,014,712||999,612|
|Charity funds||||||
|Restricted funds|14||47,678||47,799|
|Unrestricted funds|14||967,034||951,813|
|Totalfunds|||1,014,712||999,612|
The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
R Morley
Trustee
Date: 09/27/2023
The notes on pages 8 to 22 form part of these financial statements.
Page 7
Document ID: 46d60581-e655-4772-94af-e95d36199b2e
Net Church Dartford
## (A company limited by guarantee)
## Notes to the financial statements
for the year ended 31 December 2022
1. General information
The Charity is a charitable company limited by guarantee. The members of the Charity are the Trustees named on page 1. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity. The Charity has the registered company number 07584098 and the registered charity number 1141375. Its registered office is 30 Spital Street, Dartford, DA1 2DL.
## 2. Accounting policies
## 2.1 Basis of preparation of financial statements
The 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 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Net Church Dartford meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## 2.2 Going concern
The Trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Charity's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
## 2.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
## 2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
## 2.5 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 institution with whom the funds are deposited.
Page 8
Document ID: 46d60581-e655-4772-94af-e95d36199b2e
Net Church Dartford
## (A company limited by guarantee)
## Notes to the financial statements
for the year ended 31 December 2022
## 2. Accounting policies (continued)
## 2.6 Tangible fixed assets and depreciation
Tangible fixed assets costing £2,500 or more are capitalised.
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shorfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities.
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold buildings - Straight line over 50 years (land is not depreciated) Motor vehicles - Straight line over 3 years Fixtures and fittings - Straight line over 3 to 7 years
## 2.7 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
- 2.8 Cash at bank and in hand
Cash at bank and 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.
## 2.9 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
## 2.10 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## 2.11 Pensions
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.
Page 9
Document ID: 46d60581-e655-4772-94af-e95d36199b2e
Net Church Dartford
## (A company limited by guarantee)
Notes to the financial statements for the year ended 31 December 2022
## 2. Accounting policies (continued)
## 2.12 Fund accounting
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.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
3. Income from donations and legacies
||Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|
||funds|funds|funds|funds|
||2022|2022|2022|2021|
||£|£|£|£|
|Church and other giving|-|315,930|315,930|261,006|
|Gift Aid|-|62,731|62,731|17,928|
|Other income|-|18,168|18,168|10,465|
||-|396,829|396,829|289,399|
|Total2021|3,366|286,033|289,399||
Page 10
Document ID: 46d60581-e655-4772-94af-e95d36199b2e
Net Church Dartford
## (A company limited by guarantee)
## Notes to the financial statements
for the year ended 31 December 2022
## 4. Income from charitable activities
|||Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|
|||funds|funds|funds|funds|
|||2022|2022|2022|2021|
|||£|£|£|£|
||Events and programmes|266|176|442|975|
||Rise income|-|530|530|-|
||Conference income|994|149|1,143|-|
||Youth|2,444|-|2,444|-|
||Bible Academy|-|300|300|711|
||Team income|-|81|81|2,365|
||Resources|-|627|627|20|
||Vision offering|5,076|-|5,076|16,126|
||Little Angels|-|300|300|71|
||Hall hire|-|288|288|-|
||Total 2022|8,780|2,451|11,231|20,268|
||Total 2021|16,160|4,108|20,268||
|5.|Investment income|||||
||||Unrestricted|Total|Total|
||||funds|funds|funds|
||||2022|2022|2021|
||||£|£|£|
||Bankinterest||392|392|79|
All of the investment income, in both 2022 and 2021, related to unrestricted funds.
## 6. Analysis of expenditure by activities
|||Support|Total|Total|
|---|---|---|---|---|
||Direct costs|costs|funds|funds|
||2022|2022|2022|2021|
||£|£|£|£|
|Charitable activities|250,577|142,775|393,352|358,991|
|Total2021|234,196|124,795|358,991||
Page 11
Document ID: 46d60581-e655-4772-94af-e95d36199b2e
Net Church Dartford
(A company limited by guarantee)
## Notes to the financial statements
for the year ended 31 December 2022
## 6. Analysis of expenditure by activities (continued)
## Analysis of direct costs
||Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|
||funds|funds|funds|funds|
||2022|2022|2022|2021|
||£|£|£|£|
|Staff costs|-|149,672|149,672|125,862|
|Youth|-|3,904|3,904|2,683|
|Ministryteam expenses|-|7,073|7,073|6,024|
|Events and outreach|10,514|13,615|24,129|22,680|
|Media and technology|-|2,972|2,972|4,861|
|Children's Department and Little Fishes|-|474|474|247|
|Ukraine appeal|-|3,900|3,900|-|
|Loving Later Life|-|271|271|-|
|Resources|-|356|356|297|
|Subscriptions and membership fees|-|6,390|6,390|6,719|
|Welcome|-|2,746|2,746|2,016|
|Tamil Congregation|-|2,481|2,481|1,217|
|Befriending service|-|183|183|38|
|Music and worship|-|2,590|2,590|3,701|
|NetYoung Adults|-|431|431|381|
|Building projects|-|32,589|32,589|53,324|
|Staff wellbeing|2,018|-|2,018|1,019|
|Sabbatical fund|-|8,125|8,125|3,127|
|Community Project|-|273|273|-|
||12,532|238,045|250,577|234,196|
|Total2021|12,096|222,100|234,196||
Page 12
Document ID: 46d60581-e655-4772-94af-e95d36199b2e
Net Church Dartford
(A company limited by guarantee)
## Notes to the financial statements
for the year ended 31 December 2022
## Analysis of expenditure by activities (continued)
## Analysis of support costs
|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2022|2022|2021|
|||£|£|£|
||Staff costs|17,047|17,047|16,620|
||Depreciation|39,284|39,284|41,848|
||Utilities|30,409|30,409|17,718|
||Telephone and internet|767|767|1,096|
||Insurance|6,460|6,460|5,363|
||Minibus expenses|-|-|237|
||Bad debts|4,300|4,300|-|
||Stationery|2,200|2,200|1,190|
||General building maintenance|8,322|8,322|8,225|
||Cleaning|4,511|4,511|3,863|
||Printing|1,787|1,787|1,121|
||Interest payable|25,147|25,147|25,204|
||Professional fees|2,541|2,541|2,310|
|||142,775|142,775|124,795|
||Total 2021|124,795|124,795||
|7.|Independentexaminer'sremuneration||||
||2022|2021|
|---|---|---|
||£|£|
|Fees payable to the Charity's independent examiner for the independent|||
|examinationoftheCharity'sannualaccounts|2,541|2,310|
Page 13
Document ID: 46d60581-e655-4772-94af-e95d36199b2e
Net Church Dartford
(A company limited by guarantee)
## Notes to the financial statements
for the year ended 31 December 2022
## 8. Staff costs
||2022|2021|
|---|---|---|
||£|£|
|Wages and salaries|156,017|133,250|
|Social security costs|7,944|6,125|
|Pension costs|2,758|3,107|
||166,719|142,482|
The average number of persons employed by the Charity during the year was as follows:
||2022|2021|
|---|---|---|
||No.|No.|
|Employees|10|9|
No employee received remuneration amounting to more than £60,000 in either year.
Remuneration and benefits paid to key management personnel during the year, including employer's national insurance contributions, amount to £82,108 (2021: £62,255)
## 9. Trustees’ remuneration and expenses
During the year R Morley, one of the Trustees, received remuneration and benefits amounting to £48,408 (2021: £47,600) for his position as Pastor.
During the year ended 31 December 2022, no Trustee expenses have been incurred (2021 - £NIL).
Page 14
Document ID: 46d60581-e655-4772-94af-e95d36199b2e
Net Church Dartford
(A company limited by guarantee)
## Notes to the financial statements
for the year ended 31 December 2022
## 10. Tangible fixed assets
|||Freehold|Motor|Fixtures and||
|---|---|---|---|---|---|
|||property|vehicles|fittings|Total|
|||£|£|£|£|
||Cost or valuation|||||
||At1January2022|1,451,411|7,500|111,813|1,570,724|
||At 31 December 2022|1,451,411|7,500|111,813|1,570,724|
||Depreciation|||||
||At 1 January 2022|196,970|7,500|60,531|265,001|
||Charge for the year|29,028|-|10,256|39,284|
||At 31 December 2022|225,998|7,500|70,787|304,285|
||Net book value|||||
||At 31 December 2022|1,225,413|-|41,026|1,266,439|
||At 31 December 2021|1,254,441|-|51,282|1,305,723|
|11.|Debtors|||||
|||||2022|2021|
|||||£|£|
||Due within one year|||||
||Trade debtors|||-|6,077|
||Tax recoverable|||3,300|2,495|
|||||3,300|8,572|
Page 15
Document ID: 46d60581-e655-4772-94af-e95d36199b2e
Net Church Dartford
(A company limited by guarantee)
## Notes to the financial statements for the year ended 31 December 2022
## 12. Creditors: Amounts falling due within one year
||2022|2021|
|---|---|---|
||£|£|
|Bank loans and overdrafts|12,983|14,128|
|Other taxation and social security|3,624|4,032|
|Other creditors|489|642|
|Accruals and deferred income|2,541|2,310|
||19,637|21,112|
|Creditors: Amounts falling due after more than one year|||
||2022|2021|
||£|£|
|Bank loans|584,415|599,169|
|Included within the above are amounts falling due as follows:|||
|Between two and five years|||
|Bank loans|65,772|63,010|
|Over five years|||
|Bankloans|518,643|536,159|
## 13. Creditors: Amounts falling due after more than one year
The aggregate amount of liabilities payable or repayable wholly or in part more than five years after the reporting date is:
||||2022|2021|
|---|---|---|---|---|
||||£|£|
|Repayable|by|instalments|518,643|536,159|
||||518,643|536,159|
The bank loan was used to assist with the purchase of the church property in Spital Street, Dartford. It is secured with a first charge on that property and is repayable over 15 years with interest at 4% per annum.
During the previous year, the charity re-mortgaged the property, secured by a charge on that property, and is payable over 25 years with interest at 3.75% above base rate per annum.
Page 16
Document ID: 46d60581-e655-4772-94af-e95d36199b2e
Net Church Dartford
(A company limited by guarantee)
## Notes to the financial statements
for the year ended 31 December 2022
## 14. Statement of funds
Statement of funds - current year
**----- Start of picture text -----**
||||||||||
|---|---|---|---|---|---|---|---|---|
|Balance|at|
|Balance|at|1|31|
|January|Transfers|December|
|2022|Income|Expenditure|in/out|2022|
|£|£|£|£|£|
|Unrestricted|funds|
|Designated|funds|
|Capital|fund|641,145|-|-|27,897|669,042|
|General|funds|
|General|Fund|310,668|399,672|(384,451)|(27,897)|297,992|
|Total|Unrestricted|tunds|951,813|399,672|(384,451)|-|967,034|
|Restricted|funds|
|Youth|Conference/Summer|
|Camp|1,182|991|(991)|-|1,182|
|Vision|Offering|2020|801|-|-|-|801|
|Vision|Offering|Dartford|12,979|3,795|(500)|-|16,274|
|Vision|Offering|Tamil|2,870|2,400|-|-|5,270|
|Women's|Conference|-|Closer|487|-|-|-|487|
|Church|Plant|29,480|-|(5,816)|-|23,664|
|Women's|Conference|-|Closer|
|2022|-|994|(994)|-|-|
|Staff|Wellbeing|-|600|(600)|-|-|
|47,799|8,780|(8,901)|-|47,678|
|Total|of funds|999,612|408,452|(393,352)|-|1,014,712|
**----- End of picture text -----**
Page 17
Document ID: 46d60581-e655-4772-94af-e95d36199b2e
Net Church Dartford
## (A company limited by guarantee)
## Notes to the financial statements
for the year ended 31 December 2022
## 14. Statement of funds (continued)
## Statement of funds - prior year
**----- Start of picture text -----**
||||||||||
|---|---|---|---|---|---|---|---|---|
|Balance|at|
|Balance|at|31|
|1|January|Transfers|December|
|2021|Income|Expenditure|in/out|2021|
|£|£|£|£|£|
|Unrestricted|funds|
|Designated|funds|
|Capital|fund|787,348|-|-|(146,203)|641,145|
|General|funds|
|General|Fund|224,920|290,220|(346,895)|142,423|310,668|
|Total|Unrestricted|tunds|1,012,268|290,220|(346,895)|(3,780)|951,813|
|Restricted|funds|
|Youth|Conference/Summer|
|Camp|1,649|34|(501)|-|1,182|
|Vision|Offering|2020|20,366|-|(10,554)|(9,011)|801|
|Vision|Offering|Dartford|-|12,979|-|-|12,979|
|Vision|Offering|Tamil|-|2,870|-|-|2,870|
|Bike|Offering|16|-|(16)|-|-|
|Women's|Conference|-|Closer|2,033|-|-|(1,546)|487|
|Church|Plant|11,500|3,643|-|14,337|29,480|
|Foodbank|6|-|(6)|-|-|
|Staff|Wellbeing|1,019|-|(1,019)|-|-|
|36,589|19,526|(12,096)|3,780|47,799|
|Total|of funds|1,048,857|309,746|(358,991)|-|999,612|
**----- End of picture text -----**
Page 18
Document ID: 46d60581-e655-4772-94af-e95d36199b2e
Net Church Dartford
## (A company limited by guarantee)
## Notes to the financial statements
for the year ended 31 December 2022
## 14. Statement of funds (continued)
## Purpose of designated funds
Capital fund - The capital fund represents the value of land and buildings included in tangible fixed assets, less the outstanding balance on the charity's mortgage.
## Purpose of restricted funds
Youth Conference/Summer Camp - Money given to pay for putting on a youth conference in the summer.
Vision Offering - A specific offering once a year to go towards church planting and community partnership projects.
Vision Offering Dartford - A specific offering once a year from Dartford congregation to go towards church planting and community partnership projects
Vision Offering Tamil - A specific offering once a year from Tamil to go towards church planting and community partnership projects
Bike Offering - At Christmas a special offering was taken to be able to buy bikes for children and young people from families that couldn't afford to buy them.
Women's Conference - Closer & Closer 2022 - Money raised for the church to run a womens conference, and ladies contributed towards the cost of the event.
Church Plant - Money contributed for the church plants in London and Ethiopia
Foodbank - Money donated for our foodbank service, which runs from the church premises.
Staff Wellbeing - Money contributed towards the annual staff away day. which staff also contribute towards.
Page 19
Document ID: 46d60581-e655-4772-94af-e95d36199b2e
Net Church Dartford
## (A company limited by guarantee)
## Notes to the financial statements
for the year ended 31 December 2022
## 15. Summary of funds
Summary of funds - current year
||||||Balance at|
|---|---|---|---|---|---|
||Balance at 1||||31|
||January|||Transfers|December|
||2022|Income|Expenditure|in/out|2022|
||£|£|£|£|£|
|Designated funds|641,145|-|-|27,897|669,042|
|General funds|310,668|399,672|(384,451)|(27,897)|297,992|
|Restricted funds|47,799|8,780|(8,901)|-|47,678|
||999,612|408,452|(393,352)|-|1,014,712|
|Summary offunds - prior year||||||
||||||Balance at|
||Balance at||||31|
||1 January|||Transfers|December|
||2021|Income|Expenditure|in/out|2021|
||£|£|£|£|£|
|Designated funds|787,348|-|-|(146,203)|641,145|
|General funds|224,920|290,220|(346,895)|142,423|310,668|
|Restricted funds|36,589|19,526|(12,096)|3,780|47,799|
||1,048,857|309,746|(358,991)|-|999,612|
Summary of funds - prior year
Page 20
Document ID: 46d60581-e655-4772-94af-e95d36199b2e
Net Church Dartford
## (A company limited by guarantee)
Notes to the financial statements for the year ended 31 December 2022
## 16. Analysis of net assets between funds
## Analysis of net assets between funds - current year
||Restricted|Unrestricted|Total|
|---|---|---|---|
||funds|funds|funds|
||2022|2022|2022|
||£|£|£|
|Tangible fixed assets|-|1,266,439|1,266,439|
|Current assets|47,678|304,647|352,325|
|Creditors due within one year|-|(19,637)|(19,637)|
|Creditors due in more than one year|-|(584,415)|(584,415)|
|Total|47,678|967,034|1,014,712|
|Analysis of net assets between funds- prioryear||||
||Restricted|Unrestricted|Total|
||funds|funds|funds|
||2021|2021|2021|
||£|£|£|
|Tangible fixed assets|-|1,305,723|1,305,723|
|Current assets|47,799|266,371|314,170|
|Creditors due within one year|-|(21,112)|(21,112)|
|Creditors due in more than one year|-|(599,169)|(599,169)|
|Total|47,799|951,813|999,612|
## 17. Pension commitments
The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £2,758 (2021: £3,107). Contributions of £489 (2021: £642) were payable to the fund at the Balance sheet date.
Page 21
Document ID: 46d60581-e655-4772-94af-e95d36199b2e
Net Church Dartford
## (A company limited by guarantee)
## Notes to the financial statements
for the year ended 31 December 2022
## 18. Related party transactions
During the period, the Charity recieved cumulative donations of £2,280 from the Trustees.
Mrs K Morley, wife of R Morley (who is a trustee of the charity), received remuneration and benefits totalling to £33,701 (2021: £12,818) during the year, in her capacity as a church worker.
Mr E Morley, son of R Morley (who is a trustee of the charity), received remuneration and benefits totalling to £4,695 (2021: £4,770) during the year.
Net Church Dartford received income from Net Church Sittingbourne of £1,598 (2021: £1,889), and paid donations to Net Church Sittingbourne of £3,334 (2021: £nil). P Judd, R Morley, T McAtear, D Brown, M Thomas and M Naidoo are all Trustees of Net Church Sittingbourne.
## 19. Post balance sheet events
As of 1st August 2023, the charity Net Church Dartford merged with its associated charity Net Church Sittingbourne (registered as Net Church with charity number 1054377), which has the same Trustee body. All assets and activities will be moved into the registration of Net Church Dartford, and Net Church Sittingbourne will be dissolved.
Following the year end, the Charity were involved in court proceedings regarding a faulty roof repair which was undertaken during the 2022 year. The court ruled that the Charity was entitled to be re-imbursed the sum of £21,978. As at the date of signing of financial statements, £nil had been received.
Page 22
Document ID: 46d60581-e655-4772-94af-e95d36199b2e