COMPANY REGISTRATION NUMBER: 07738949 (England & Wales) CHARITY REGISTRATION NUMBER: 01143499 Swanfield Chapel Company Limited by Guarantee Financial Statements For The Year Ended 31 December 2023
Swanfield Chapel Company Limited by Guarantee Financial Ststements Year Ended 31 December 2023 Pages Trustees, annual report (incorporating the directors, report) Ito6 Independent examiner's report Statement of financial activities (including income and expenditure account) Balance Sheet Notes to the financial statements 10t016
Swanfield Chapel Company Llmited by Guarantee Trustee8' Annual Report (Incorporatlng the Director8, Report) Year Ended 31 December 2023 The truste88, who are also the dlrectors for the purposes of Company law, present their report and the financlal statements of the charity for the year ended 31 December 2023. R•f•rnn¢• and •dmlnl•tratlvè dotall Company rogl¥tratlon numb•r 07738949 Charlty regl•tratlon nrnr 01143499 W•b•lto .swanfieldchapel.org.uk 8wanfield¢hapelchi. 117 Swanfield Drive Chichester W8$t Su8$ex P019 6TD Fa¢•book R•ght•r•d offlc• P••lor Steve Davles Tru•t•O• Anthony Fisher Trevor James Lee Jerromes Euan Menzies Tom Striven8 Davld Thurfow David Wakeford Rob Wakeford Ichalmianl David Thurtow (Retired May 20231 (Appolnled May 2024) Company •o¢r•l•ry Eld•f• Sieve Davles Trevor James Jon Taylor (Retlred September 2023) D••eon• Gilly Bla¢kleo Jon Bull Tom Strivens IAppolnt8d F&bruary 20241 Tr•••ur•r Trevor James Indopondont Eximln•r James Tickell Bsc FCA 21 Southdown Road Watedooville Hanls P08 OET B•nk•r• CAF Bank Ltd 25 Klngs Hill Avenue Kings Hill W8sI Malling Kent ME19 4JQ
Swanfield Chapel Company Limited by Guarantee Trusteos, Annual Report (Incorporating the Directors, Report Year Ended 31 December 2023 structure. governance and management Company and Charity Status Swanfield Chapel I'the Charity'l is a company limited by guarantee and is governed by ils Articles of Association. It was Incorporated on 12 August 2011 and was registered with the Charity Commission In England and Wales on 23 August 2011. The trustees are the member5 of the Charity. They have no shareholdings bul In the event of a winding up each has undertaken to contribute lo the payment of Iiabililies such an amount as may be required not exceeding a total of £10. Structu Swanfield Chapel is an evangelical church that from 1938 10 1972 mel in Chapel Street. Chichester and from 1972 onwards in Swanfield Orive, Chichester. 11 was governed by a Irusl deed dated 12 January 1938 Ilhe 'Old Charity l. On 12 August 2011 the Trustees registered a charitable company limited by guarantee Ilhe 'New Charily'l. On 1 January 2012 the activities of the Old Charity and Ils as5els and liabilities. with the exception ol the church building. were transferred to the New Charity. The church building remains in the Old Charity becausè the 1938 trust does not contain the power lo transfer this asset. The New Charity has been granted an informal licence lo 0pY the building and has taken responsibility for ils repair and insurance. In October 2017 the New Charity was appointed the sole Iruslee of the Old Charity. In this report the words "Chapel" and 'Charily are used lo describe the occupying and operating enlily. Recruitment, Appoinlm8nt and Training of Trustèes Trustees are recruited from those who share the Charity's aims and aspirations and who, in accordance with the Charity's Art1cles. sign up to, abide by and live in accord8n¢e with the Charily's $1919menl ol faith. They musl also have won the confidence of the members ol the Chapel through their commitment and Gonduct and musl be able lo bring a breadth and depth ol experience and ski115 to the trustee body. Prior lo appointment Trustees are briefed on the Charity's activities and complete Fil and Proper Person forms and Declarations of Interests. They take seriously the obligation to maintain their knowledge. Risk M8nagem8nl The Twslees have identified the major risks lo which they believe the Charity is exposed and systems have been established lo minimise those risks. The risks are formally reviewed at each Iruslees, meeting. The principal risks relate lo the building and lo the activities carried out in the building In May 2019 the Trustees received safeguarding training lo ensure they understood their responsibilities in this area. During 2023 First Aid refresher training and Firewarden training was undertaken by the relevant members of the Chapel. Goveman¢e The overall responsibility for the Chapel rests with the Trustees who met once during the year to receive reports on the Chapel's activities. The day lo day operating decisions rest with the Elders who meet formally once each month and who Informally are In constant communication with each other. Deacons, who are responsible for practical matters, support the Elders and meet with them each quarter. Trevor James who had served as an Elder for many years retired frorn that office in September 2023. He continues as a Trustee and as an active member of the Chapel. The Bible gives clear gLJidance that Christian5 should be above repro8ch in all they do. Seeking lo apply this Biblical imperative the Trustees endeavour lo apply the Charity Governance Code and the Nolan principles (selflessness, Integrity. objectivity, accountability. openness. honesty and leadershipl. Furthermore believing that corruption, bribery and unfair actions hamper development and impede progress they insist on integrity in all of the Charity's aclivilies.
Swanfield Chapel Company Limited by Guarantee Tru8tee8' Annual Report (Incorporating the Directors, Report) Year Ended 31 December 2023 ObJ•¢tlv•8 and acvIti The Chapel seeks lo honour God and demonstrate the Christian faith in action by acbng as a church in the community and through support for missionary work both in the United Kingdom and overseas. This15 achieved by.. holding service8 for worship., preaching and expounding the word of God, Ihe Bible.. holding meetings for the instruction of adults, young peopl8 and children in thé word ofGod, reaching out to those not ol the Chrisllan faith to make Christ known.. encouraging interest in missionary acllvities. Publk b•n•ftt The trustees have pald due regard to the Charity Commission's guidance on public benefit. Thoy Strongly believe in the public benofit of $èNl¢es for the worship ol God, and the public benefit of actlvitSes which promote the Word of God and lead people to faith in the Lord Jesus Chr1818$ their Saviour. Indlvldua18 are taught to re$pon8lble, to contdbuta to the welfare of soclety, to r¢8p8cI th6 aulhorS1188 In soclety, and lo show genulne care lor their noighbours and tho environment. The practical benefit comes through promotln9 happy marriages and homes Whe Children experfence love and caro and grow up to become good citizens and in the provision of support lo Ihose in need. Achl•v•m•nts and porfornian¢• tha e95ing and effectlve femoval of Covid-19 r¢$tri(*ion8 allowed the 9radu•l openlng up ol thè Chapel'8 acilvities whlch during the year included.. SgNlcas al 10.30am e8¢h Sunday momlng, whlch wero also avallable remol•ly using Zoom for those unabl¢ to 8ttend in person and as sound recording$ on the Chapel's website., 24 hour prayer on 14115 July., Young ople'S aclivllies dur5ng thè Sunday momSng Sgryice., Ladies 8ible studies on alternate Wednésday afternoons., Remote prayer meetlngs using Zoom on alternate Thursday evenings., Home Bible SIL¢die8 in person and on Zoom (including a Spanish group}. Toddlef Group each Friday moming during tem time.. Hol Potato, a monthly lunch on Wednesdays with an invited 8peaker', Slap In, a monthly group for year 3 10 7 school pupil8'. Craft Group on allernale Friday aftemoons,, Montttly prayer meeting lor the Elders and Deacons.. Half-temi Children's Holiday Club in February,. Good Fnday Hol Cross Bun dislributson in City Centre Iwilh other churches): Easter Saturday activity for families and Ihe ¢ornmunlty'. Advent Songs of Praise., Board Games Night on 28 January.. Quiz Night on 21 October., Fireworks and a bonfir& on 4 November, Carols by candle light service on Christmas Eve,. Facebook page.
Swanfield Chapel Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directors, Report Year Ended 31 December 2023 With Christians from other Chichester churches members of the Chapel participated in joint activities ineluding the Chichester District Foodbank and the Chichester Cathedral Bell Tower Youth Drop-ln. All meetings are open lo the public and lo ensure no one is prevented trom attending the Chapel does not charge for any activity. Church Attendance Approximately 55 adults and children altended the Chapel's Sunday services regularfy. It is estimated that during the year a lolal of 150 people were present al an activity either in the building or on Zoom Pastoral support The Pastor Steve Davies and the Elders and Deacons together with other members of the Chapel endeavoured lo provide pastoral support throughout the year. Volunteers The rnajority of the activities of the Chapel are undertaken by volunteers. No record is kept of the lime given on 8 voluntary basis bul without this contNbulion lo the Chapel il would not function. Financial review The Chapel's policy for many years has been that the only collection taken up should be at the weekly 10.302m Sunday morning 5ervi¢e. There are no fundraising activities and no charges a made for any of the Chapel's activities. Regular financial support for mi55ionary and similar activities throughout the year was by a gift each month from the Chapel's unreslTlCted funds and added lo this were any sums designated for that purpose by a donor. The intended recipient of each designated collection is announced In advance and all fund5 collected are remitted wilhoul deduction lo the recipient. Since the fLJnds are Income of the Chapel and the intended recipient Is determined by the Elders the income is designated rather than reslricled and therefore the tsx recovered under Gift Aid is unrestricted income. The funoss from this source, together with the weekly collections and one off gifts from members of the Chapel are used for the operation21 costs of the Chapel In November 2022 the Chapel received a £5,000 grant from the Sussex Community Foundation lo assist churches with additional costs resulting from opening during the winter months as warm hubs. Allhou9h held in the Chapel's bank account at 31 December 2022 the fund5 were not recognised as income of the Chapel because they were being held as bare Iruslee for the churches in Chi¢hesler. These funds were distributed during 2023. The portion allocated to the Chapel1£8001 were recognised in 2023. The Chapel is the beneficiary of a £50,000 specific legacy and a share of the residue of the estate of a Chapel member. The deceased's executors paid £40,000 lo the Chapel during 2022 and £10,000 during 2023. The nature of the estate means that the Chapel's share of any residue cannot be estimated and therefore in accordan with the Charities SORP any possible residue has not been recognised. Excluding legacies and investment gains there was a £12,150 deficit lor the year. 12022 deficit £29.729 excluding legacies and inveslmenl gains). Reserv•¥ policy The appointment of a Pastor materially changed the Chapel's conlraclu81 liabilities. Previously on the b851S that the Chapel had no malenal Iiabililies. the Chapel's buildings were in good ordef, and experience had shown that when a specific need had arisen Chapel members had provided financial support to meet the need, the reserves policy was that there was no need to hold substantial free reserves. This policy is being reviewed.
Swanfield Chap61 Company Llmited by Guarantee Tru8to0s' Annual Report (Incorporating the Directors, Report) Year Ended 31 December 2023 P•y pollcy Ind Pr•dUr•S The Pastor's salary is benchmarked against pay frir individuals undertaking similar work in a church ¢onlext and is reviewed annually, Visiting speakers who are engaged in full lime Christian work ara paid a lee based on the nature of thè service renderod. The appropnate lev81 of each fee is delemined by the Chapel's trea8urer and reported by him to the Elders. Trustees do not receive any payment or benefits for their work either as trustees or as volunteers. Th08e who ar8 members of the Chapel contribute financialty to the work of the Chapel. Inv••tmont pollcy Funds not requlred for current needs may be invested in investments of any kind al the absolute discretion of the Trustees. D8y lo day investment decisions are made by the Elder6 and Dea¢on8 in liai8ion with Iht Chapel'8 Ire08urer, Fundr•l8lng A6 8 matter ol pollcy Ihe Chapel does nol undertako any fundralsing acllvltie5. Plan• lor fuluro p•rlod• Along with other Christians. the ffomber8 of th8 Chapel sanse both the Impfrrallve of worship and the ur9ency to fvlfil the command lo go into all the wodd and make disclple5 of all nat*ons. The trwo thames wlll continue lo direct the Chepel's activities and future dèvelopments. The Elders who Includa the Pastor are considering plans lor the future and envisa9e any change8 will address the age and health 1s8u88 of the memberB which are leadlng to a reduced number of people able to play an actsve pert In the Chapel's Ilf8 and a reduced number of people able lo le8d. Ind•p•nd•nt Examln•r Jam88 Tlckell ho8 $1gnlfied hi$ willingne$8 to continuo In office 88 Independent examlner.
Swanfield Chapal Company Limited by Guarantsa Trustse8' Annual Report (Incorporating the Directors, Report) Year Ended 31 December 2023 Tru8tV8' rn8ponslbllltle• statement The trustees, who are also directors for the purposès of company law, are responsible for preparing the trustees, report and the financial Statements in accordance with applicable law and United Kingdom Accounting Standards (Uniled Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees lo prepare financial statements for ea¢h year which give a true and fair view of the slate of affairs of the charitable company and the incoming resources and application of resources, including the inrne and expenditure. for that period. In preparing Ihese financial statements. the Iruslees are required to., select suitable accounting policies arKI then apply them consi8lenlly', obseTre the methods and principles in the applicable Charilres SORP.. mske judgments and accountsng estsmales that are reasonable and pNdent'. prepare the financial statements C the going contxrn basis unless il is inappropriate to presume that the charity will continue in operatson. The trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain thè charity's transactions and disclose with reasonable accuracy al any lime the financial posllion of the charity and enable them to ensure that the finan¢ial ststements compty with the Companies Act 2006. They a also responsible for safeguarding the assets of the charity and hen¢e for taking reasonable steps for the prevention and detecb.on of fraud and other irregularit16& The trustee¥ are responsible for the maintenance and integrity of the corF)orate and financial information included in Ihe charity's website. Legis5ation in the United Kingdom governing the pparatIOn and dissemination of firsan¢ial statements may differ from legislation in other iurisdiclions. Small company provl$lon¥ This report has been prepared in accordance the provisions applicable to companies entitled to the small companies exemption. The tru$tses' annual report was approved on Ll VfvknEol%and signed on behalf of the board of trustees Twstee
Swanfield Chapel Company Limited by Guarantee Independent examiner's report to the trustees of Swanfield Chapel Year Ended 31 December 2023 I report lo the charity Iruslees on my examination of the accounts of Swanfield Chapel for the year ended 31 December 2023. Responsibility and basis of rgport As the charity's trustees and also its directors for the purposes of company law, you are responsible for the preparation of the accounts in acctsrdance with the Companies Act 20061'lhe 2006 Act'i. Having satisfied myself that the accounts of Swanfield Chapel are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 01 the Charities Ad 2011 I'the 2011 Act'l. In carying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examiner's statement I have completed my examination I confirm that no matters have come lo my attention in connection with the examination giving me cause lo believe". accounting records were not kept in respect of the Company as required under section 386 of the 2006 Act., or 2. the accounts do not accord with those recoTds.' or 3. the accounts do not comply with accounting requirements under 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 my independent examination.. or 4. the accounts have not been prepared in accordance with the methods and principles of the Slalemenl 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 IFRS 102}. I have no concerns and have come across no other rnatters in connection with the examination to which allenlion should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. James Tickell Bsc FCA 21 Southdown Road WateHooville Hants P08 OET Date lfl Lc)
Swanfield Chapel Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year Ended 31 December 2023 Unreslricled Designated Total Funds Total Funds funds lund5 2023 2022 Noto Income Donations and grants Legacies Other income 34,514 5,875 3.826 9.972 44,486 5,875 3,826 54.187 41,975 1,953 Total Income 44,215 9,972 43,928 Expenditure Raising funds Expenditure on charitable activities Missionary and similar gift5 Total expendlture 51,845 4,520 1,120 8.852 52,965 13.372 55,230 18.427 56,365 9,972 66,337 73,657 lncomg11gxp•ndlturel before other gainslllosso51 Othor rècognlsod galnslllos8esl Unrealised gainlllossl on Investment as$el$ 112.1501 101 112,1501 {29,7291 14 3,809 3,809 13,1861 Net Incomellexpgndlturel and net movement in funds 18,3411 101 18,3411 132,9151 Reconclllatlon of lunds Tol31 funds brought forward Total fund8 Cafrl•d forw•rd 461,927 20 461,947 494,862 453,586 20 453,606 461,947 The statement of financial activities include5 all galns and losses cOgniSed in the year. All income and expenditure derive from oonlinuing adivilies. The notes on pages 10 10 16 form part of these financial statements
Swanfield Chapel Company Limited by Guarantee Balance Sheet 31 December 2023 2023 2022 Fixed assets Investments Tangible assets 14 15 34,601 252,607 30.7g2 252.607 287,208 283.399 Curfgnt assets Stocks Debtors Cash at bank and in hand 16 17 4,040 164,090 13,686 166,762 168,130 180,448 Creditor8'. amounts falling due within one year Net current ags•ts 18 1,732 1,900 166.398 178,548 Total assets less current liabilitles 453,606 461,947 Creditors: amounts falling due after more than one year Net assets 453,606 461,947 Funds of the charity Designated funds Unrestricted funds 20 453,586 20 461,927 Total charity funds 19 453,606 461,947 These financial statements have been prepared in accordance with the provisions applicable to companies subject lo the small companies, reg1me. The trustees, who are also the directors. consider that the company is entitled to exemption from the requirements to have an audit under the Provisions of section 477 of the Compan1es Act 2006 1 the Act l and members have not required the company to obtain an audit of ils accounts for the year in question In accordance with section 476 of the Act. The trLJStees acknowledge their responsibilities for omplying with the requirements of the Act with respect lo accounting recoTds and the preparation of accounts. These financial statements were approved by the board of trustee5 and aulh0ri5ed for issue on ..Ll. .kf-kkn...2A>*Y ..... and are signed on behalf ol the board by.. Trustee Company Registration Number 01143499 The notes on pages 10 10 16 form part of these financial statements
Swanfield Chapel Company Limited by Guarantee Notes to the Financial Statements Year Ended 31 DeGernber 2023 Ggneral Infomiatlon The Charity is a private company limited by guarantee. registered in England and Wales and a registered charity in England and Wales The address of the registered office is 117 Swanfield Drive, Chichester, Wesl Sussex P019 6TD Statement of cornpliance These financial statements have been prepared in Complian with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland., the Statement of Recommended Practi applicable lo charities preparing their accounts in accordance with the Financial Reportin9 Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP IFRS 10211, the Companies Act 2006 and the Charities Act 2011. Swanfield Chapel meets the definition of a public benefit entity under FRS 102. Accounting policies Ba$1$ of preparation The financial stslements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional eurrency of the entity. Going Goncern There are no material uncertainties about the Charity's ability lo continue. Judgements and key sOue¥ of estimation uncertainty The preparation of the financial statements require5 management to make judgements. estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and based on experience and other factors. including expectations of future events that are believed lo be reasonable under the circumstances. Fund accounting Unrestricted funds, including designated funds, are available for use at the discretion of the Trustees to further any of the Charity's purposes. Restricted funds are subjected lo reslriclions on their expenditure declared by the donor or through the terms of an appea1 and fa11 into one of sub-classes". restricted income funds or endowrnent funds. Incoming resources All income is included in the statement of financial activities when enlitlernent has passed to the Charity, It is probable that the economic benefits associated with the transaction will flow lo the Charity and the amount can be reliably measured. The following specific policies are applied lo particular categories of income.. Income from donations. grants and legacies is recognised when there is evidence of enlillement to the funds, receipt is probable, and its amount can be measured reliably. Tax recoverable under gift aid is recognised when the relevant gift aid donation is recognised. 10-
Swanfield Chapel Company Limitsd by Guarantse Notes to the Financial Statsrnents (contlnuod) Year Ended 31 December 2023 Aecountlng pollcles (continued) Top-up payments under the Gift Aid Small Donations Scheme are recognised when the cash donations which form the basis of the Glaim are received. Donated facilities and seNices are recognised when CeIVed if the value can be rellably measured. No amounts are inc14Jded for the contribution of volunteers. Rmources expfrnd•d Exnditre is recognised on an accruals basis as a liability is incurred. Expendilura on challlable activities includes all costs incurred by the Charity in undertaking activities that fvrther its charitsble aims lor the benefit of its beneficiaries. other expenditure includes all expenditure that is not expenditure on charitable aclivllies. All costs are alloc4led to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity ale allocated direclty to Ihat activity. Shared costs are apportioned betsveen the activities on a reasonable, iuslifiable and consistent basis. Oporating lea8•8 There are no operating leases. Any lease payments would be Ognised as an expense over the lease tern on a straight-line basis. The a9gregale benefit of lease incer¢lives would be recognised a5 a reduction to expense over the lease tem, on a straighl-line basis. No value is attributed to the occupation of the Chapel building oGGupied by the Charity under an informal licenGe. Tanglblg a¥s•ts Tangible assets ale recLJrded at cost, and subs4uentty ststed at cost less any accumulated depreciation 8nd impairment105ses. Furnlturè, oqulpmont and flxtures and fftllngs Furniture, equipment and fixtures and fittings éireclly replacing eKistlng assets or costing less than £2,000 Is written off in the year of purchase. Fumiture, equipment and fixtures and fittings C051ing more than £2,000 is capitalised. Furniture, equipment and fixtu$ and fittings transferred to the Chafsty on 1 January 2012 has not been valued. D8prnclatlon Freehold property Is not deprecialed. Depreciatton of other tangible assets is calculated so as to write off the cost or valuation ol an 8sset. less ils residual value, over the useful economic life of that asset Siocks Stocks are measuro¢J at the lower of cost and net realisable value. D•btorn Trade and other deblots are rrtognised al the settlement amount due after any trade discount offered. Prepayments are valued al the arrr)unl prepaid net of any trade discounts due.
Swanfield Chapel Company Limited by Guarantee Notes to the Financial Statements Icontinue(l) Year Ended 31 December 2023 Accounting policies (continued) Cash at bank and in hand Cash at bank and in hand 1ncludes cash and short term highly liquid investments with a short maturity ol three months or less from the date of a¢quisibon or opening of the deposit OT similar account. Crèditors and provisions Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that wi11 probably result in the transfer of funds lo a third party and the amount due lo settle the obligation can be measured or eslimaled reliably Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Financial instruments A financial asset or a financial Liability is recognised only when the Charity becomes a party lo the contractual provisions of the instnjment. Basic financial instruments are initially recognised al the amount receivable or pay8ble Including any related transaction costs Current assets and current liabilities are subsequently measured at the cash or other consideration experted to be paid or received and not discounted. Llmited by guarantee Swanfield Chapel is a company limited by guarantee and accordingly does not have a share capital. Every member of the charitable company undert3kes lo contribute such amount as may be required not exceeding £10 to the assets of the charitable company In the event of its being wound up while he or She is a member, or within one year after he or she ceases to be member. Donations and grants Unrestricted Designated Total Funds Total Funds Funds Funds 2023 2022 Donations - unre$trlcted Offerings and donations Grants Grants receivable Donations - designated Offering5 and donations 34,514 34,514 27,018 800 800 9,172 9,172 14,957 34,514 9,972 44,486 41,975 Year ended 31 December 2022 27,018 14,957 Lègacios Unreslricled Designated Total Funds Total Funds Funds Funds 2023 2022 Legacies receivable Year ended 31 December 2022 5,875 5,875 12-
Swanfield Chapel Company Limited by Guarantee Notes to the Financial Statements (continued) Year Ended 31 December 2023 Other income The Chapel building is not hired out for use by other organisations bul from lime lo lime organisalions with objects which afe in line with those of the Chapel use the building free of charge. Similarly some are permitted to use the car park. Some users of the building and the car park make donations to the Chapel as a mark of their thank5. Unreslricled Designated Total Fundo Total Funds Fund5 Funds 2023 2022 Gifts from users of building & car park Bank Interest 1,140 2,686 1,140 2,686 790 1,163 3.826 3,826 1,953 Expendlture on charitable actlvltlos by actlvlty type Unrestricted Designated Total Funds Total Funds Funds Funds 2023 2022 Pastor's salary Pas10rfs a¢commodalion Speakers and local workers 25,120 3,743 490 3,735 11,718 1,073 25,120 3,743 490 4,535 11,718 1,393 24,252 10,741 815 800 Maintenance Holiday Club Life Exhibition Other costs 8,751 1,391 3,770 5,510 320 5,966 5,966 51,845 1,120 52,965 55,230 Ml8slonary and slmllar glfts Wnere a missionary has been commended by the Chapel il is the practice lo support them financially. Strict compliance with the Charities Slatemenl of Rewrnmended Practice ISORPI may regard this as consliluling a constructive obligation such that future support should be a¢counted for in these account5 as a liability. The Trustees are confident the missionaries would not view their support as an openonded obligation by the Chapel. Total Total Unrestricted Designated Funds Funds Funds Funds 2023 2022 Missionaries from Swanfield Chapel Other missionary and similar gifts 1,480 3,040 400 1,880 1.860 8,452 11,492 16.567 8,852 13,372 18,427 4,520 10. Net Income Net income Is stated after charging". 2023 2022 Depreciation of tangible fixed assets Professional fees- Independent examiner's remuneration Trustees, meeting expenses 13-
Swanfiold Chapel Company Limitsd by Guarantee Notss to the Financlal Statements f¢onlln4MdJ Year Ended 31 December 2023 11. Independent exomlnèr'8 remunoratlon 2023 2022 Fees payable for the examination of the financial statements 12. Slaff ¢08ts Total remuneration paid to The Chapel's full lime Pastor, including employels pension and social security costs. was £25.12012022'. £24,252). From lime to ti'me individuals who are not members of the Chapel and not employees are paid fees for assistance with preaching and other aclivilies. The totsl paid to lo individuals was £490 12022.. £8151. Many of the Chapel's a¢tNities are carried out by volunleefs who are unpaid and do not receive any reimbursement of expenses. 13. Tru8ts0 romuD•ratlon and ex•0• None of the Trust6es or persons connected with them received any remuneration, benefits or reimbursement of expenses in the year for work as a Iruslee 12022..Nonel. Any claim for expenses would be subjeci to the Charity's normal internal control procedLtres. 14. Invg8tments 139.52 CCLA COIF Investment a¢cumulation units purchased April 2021 Cost Mathet value 31 December 2022 M8rket value 31 December 2023 30,000 30.792 34,601 Gain 3,809 prtor Year Loss 13.186} 16. Tangibl• flxed a880ts The Chapel owns the freehold of 90 Baxendale Road, Chichester purchased in November 2011. The propety is insured fDr £455.622. The Chapel's fumishings, fithngs and equipment were transferred to the Chafity al nil cost on 1 January 2012. They were not valued at the lime of transfer and have not been capitalised. The insufed value of the ntentS is £91,977. The Charity is the )rPorate trustee of the charity which owns the freehold of the church building, which is Insured for £1,272.006. Freehold Fumishings, Total Propety fittings and equipment At 1 January 2023 Additions 252.607 252,607 At 31 Decemb•r 2023 252.607 252,607 Dgpreclatlon At 1 January 2023 Charge for the year At 31 Docombor 2023 Carrylng amount At 31 Decefflber 2023 252,607 252,607 Al 31 Decembor 2022 252,607 252.607 14-
Swanfield Chapel Company Limited by Guarantse Notes to the Financial Statements Iconllnued) Year Ended 31 December 2023 16, Stocks other than a small incidental stock of cleaning rnaleri8ls, catering supplies and stslionary which are not valued, the Charity holds no slocks12022.' Nill. 17. Debtors 2023 2022 Prepayments Tax recoverable Legacy receivable Other debtors 759 3,226 1,098 2,533 10,000 55 55 4,040 13,686 18. Credktor8: amounts f•lllng duo wlthln one year 2023 2022 PAYE and Social Security Donations reiVed in advance Other creditors and accrua15 1,066 10 656 972 928 1,732 1,900 19. An•ly818 of eharltable fuDd8 Al 1 January 2023 At Inve51menl 31 December Gain 2023 Income Expenditure Unreslricled Designated 461,927 20 44.215 9,972 156,3651 19,9721 3,809 453,586 20 461.947 54.187 166,3371 3,809 453,606 Charitablè funds - Prior Year At 1 January 2022 At Investment 31 Decembor Loss 2022 Income Expenditure Unrestricted Designated 494,312 550 28,971 14,957 158,1701 115.487} 13,1861 461,927 20 494,862 43.928 173.6571 13,1861 461,947 The Unre51ricted Fund represents the resource5 freely available to further the general objectives of the Charity. However £252,607 15 represented by the freehold propety held for occupation by the Chapel's Pastor. Excluding this the unrestricted funds are £200,99912022." £209.3201. 15-
Swanfield Chapel Company Limited by Guarantee Notes to the Financial Statements (¢ontlnLr6d) Year Ended 31 December 2023 20. Analysls of net assots between funds Unrestricted Designated Total Funds Funds Funds 2023 Fixed asset investments Tangible assets Current assets Creditors less Ihan 1 year CreditOTS greater than 1 year Net assets 34,601 252,607 168,110 11,7321 101 453,586 34,601 252.607 168,130 11,7321 10} 453,606 20 101 101 20 Prlor Year Unrestricted Designated Total Funds Funds Funds 2022 Fixed asset investments Tangible fixed assets Current assets Creditors less than 1 year Creditors greater than 1 year 30,792 252,607 180.428 11,9001 101 461,927 30,792 252.607 180,448 11,9001 101 461,927 20 101 101 20 21. Operatlng18180 commltments There are no operating lease commilments12022., None). 22. Pen8lon commltmentS The Chapel operates a defined contribution pension sch8me. The assets of the scheme are held separately from those tsf the Chapel in an independently administered fund. The pension contributions payable by the Chapel to the fund during the year amounted lo £550 12022.. £5231. December 2023 employer and employee contributions tolalling £107 12022.. £1071 were payable lo the fund at the Balance Sheet date. 23, Related partie8 Three of the Trustees are members of the Chapel and are directly involved in ils activities. They benefr'l from the Chapel's activities on the same basis a5 Other members of the Chapel. Trustees and their related parties made donations to the Charity during the year. Trevor James, a Trustee. is 8180 IrL)slee of other charities and an Ambassador for the Sus3ex Community Foundation. Transactions beeen Swanfield Chapel and charities of which he was a trustee or ambassador during the year were as follows.. Sl 018v Trust (charity no l 125863). Purchased Christian tx)oks and other materials. on the same terms as any other purchaser. costing in lolal £586.1812022.' £353.50>. Sussex Community Found81ion (charity number l 113226).. Received a gr8nl of £800.00. 12022.Nill The Christian Institute (charity no 1004774J.' Made donations of £260.00 to support its work12022 £240 001 The Royal National Mission lo Deep Sea Fishermen (The Fishermen's Mission) (chgrity number 232822). Made a donation of £100.00 lo support its work12022'. Nil) 16-