## The Guild Church Council of St Botolph-WithoutAldersgate
Report and Accounts Year ended 31 December 2022
1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk
## **THE GUILD CHURCH COUNCIL OF ST BOTOLPH-WITHOUT-ALDERSGATE**
## **CHARITY INFORMATION**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
**Trustees responsible for** _Ex Officio members:_ **managing the charity** The Reverend Phillip Martin Mark Crossley (Church Warden) David Durlacher (Church Warden) _Elected members_ Tom Barnes (appointed April 2022) Louise Biller (resigned January 2022) (Secretary until January 2022) Tamara Chabe (appointed April 2022) Stephen Clipsham Charles de Lacy (resigned September 2022) Sharon Facey (resigned September 2022) Hugh Gittins (Deanery Synod rep.) Li Tjen Keep (resigned September 2022) Andrew Lewis (resigned September 2022) Victoria Rolfe (resigned November 2022) (Treasurer until November 2022) Nicolas Stansbury (appointed April 2022) Julia Tilford (appointed September 2022) Kwai San Wong Brian Wong Jeffery Xiao (appointed 8 December 2022; resigned September 2023) (remaining co(Treasurer from December 2022) opted as Treasurer) **Charity Registration Number** 1144366 **Principal Address** St. Botolph's Church Aldersgate Street London EC1A 4EU **Independent Examiner** Ajay Rajani FCIE Stewardship 1 Lamb's Passage London EC1Y 8AB **Bankers** National Westminster Bank
|**Contents**|**Page**|
|---|---|
|Charity Information|1|
|Annual Report of the Members of the Parochial Church Council|2-4|
|Independent Examiner's Report|5|
|Statement of Financial Activities|6|
|Balance Sheet|7|
|Notes to the Accounts|8-14|
|Detailed Statement of Financial Activities with Comparatives|15|
Page 1
## **THE GUILD CHURCH COUNCIL OF ST. BOTOLPH-WITHOUT-ALDERSGATE**
## **REPORT OF THE TRUSTEES**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
The Trustees have pleasure in submitting the Report and Accounts for the year ended 31 December 2022.
## **Objects of the charity**
The charity’s objective, as set out in its governing document, are to promote in the ecclesiastical parish the whole mission of the church. The charity seeks to demonstrate the Christian faith in the London area.
## **Summary of the charity's main activities and achievements**
The overall aim of St Botolph’s Aldersgate is to make disciples of Jesus Christ in the City. The primary way in which we do this is through The Aldersgate Talks and The Moorgate Talks.
The main focus is the weekly lunchtime bible talk at Aldersgate on a Tuesday and Moorgate on a Wednesday. In addition at each location there are weekly and monthly prayer meetings, weekly and fortnightly bible study groups, one to one meetings with individuals and Christianity Explored courses for those investigating the Christian faith. There are close links with a number of the workplace Christian groups in the surrounding offices which we seek to serve and support. We also have links with Grace City Church Tokyo and seek to encourage them in a similar ministry. This ministry has continued throughout 2022 with talks and the launching of a new bible study programme called “Thirsty for God” for City workers.
Phil Martin continues as Guild Vicar. Julia Tilford joined the staff team in September 2022 as the new women’s worker, to replace Clare Jackson. Brian Wong continues as a men’s worker with particular responsibility for launching a lunchtime ministry in Old Street. Alan Bright serves as financial administrator on a part-time basis.
The quinquennial inspection took place during 2018, with a report issued on 28 March 2018. The report detailed a number of areas of the church needing repair and to bring St Botolph’s up to date with modernised safety requirements. The church’s structural surveyor/architect was appointed to lead the programme and a competitive tender resulted in the programme of works which commenced in January 2023. St Botolph’s is also using this opportunity to upgrade the lighting scheme within the church and to repair the organ. This programme of works was delayed due to the pandemic and also to allow time for necessary funds to be raised.
The work of St Botolph’s is entirely funded by those involved in the talks and we are grateful for the generous giving of many to this important ministry in the heart of the City. St Botolph’s does not have its own services on a Sunday but instead is used by London City Presbyterian Church (LCPC). We are grateful to The Friends of City Churches for church sitting so that visitors can enjoy the building. Various orchestras regularly use the building in the evenings and we were pleased to see these groups continue to use the building throughout 2022.
St Botolph’s, Aldersgate Talks and Moorgate Talks are covered by the Safeguarding Policies of St Botolph’s Church, which is part of the Church of England. We are committed to safeguarding children, young people, victims/ perpetrators of domestic abuse and vulnerable adults. The Guild Church Council has adopted the Church of England’s policies and best practices on safeguarding, which may be found on the Church of England’s website: https://www.churchofengland.org/more/safeguarding.
Page 2
In planning the activities the Trustees have applied the guidance on public benefit issued by the Charity Commission.
## **Financial review**
This year the charity’s income exceeded £250,000 and so it has needed to move from preparing accounts on a Receipts and Payments basis to accounts prepared on an accruals basis in accordance with the Charities SORP.
During the year income increased by £116,471, to £286,009, and expenditure decreased by £11,838, to £191,626. As a result the charity has reported a surplus of £94,383 (2021: a deficit of £33,925) and the charity’s net assets have increased by £94,383 to £162,166. This includes cash of £171,746, of which £31,974 is unrestricted. The rest of the charity’s cash was held to help fund the refurbishment of church buildings (£133,366) and in an endowment fund (£6,407).
This year’s increase in income is largely due to a grant/advance of £156,250 received from the Trust for London received to support the building project. This was partly offset by (a) the absence of any income this year form the Government’s temporary Job Retention Scheme (in 2021 £21,321 was received) and (b) the absence of any income this year from the supply of staff to another church; this arrangement ended in 2021 and has reduced income by £19,784.
Turning to expenditure, changes to staffing reduced the cost of clergy and other staff by £53,172. This was partly offset by increases in other church ministry expenses following the resumption of in person activities after the pandemic (this increased expenditure by £13,061) and the commencement of the building project (which cost £25,151 this year).
We are very grateful to Alan Bright, who handles much of the day to day administration of the finances, and to Stewardship, for their assistance in reviewing and finalising these financial statements and reports.
## **Reserves policy**
The trustees have determined that the charity should aim to hold unrestricted cash (free reserves) of no less than sum of three months unrestricted expenditure and three months of restricted expenditure on the Talks. This equates to approximately £40,000. At the year end, the charity held unrestricted cash of £31,974. Although this is below the target set by the trustees, the trustees are satisfied that the charity can continue to operate comfortably with this level of reserves for the time being.
The trustees anticipate that the building and lighting works will cost in the region of £300,000, of which £25,000 has already been spent this year. In 2022 the Trust for London gave a grant that covers about half of the total cost and, in 2023, it also advanced a loan of £148,000 that should cover most (if not all) of the rest of the cost. Half of this loan falls due for repayment in December 2023 and the balance needs to be repaid by December 2024. The charity has made significant progress in raising the funds that will be needed to repay the loan and does not expect to have any difficulty making the first loan repayment in December 2023. The charity has engaged a fundraiser to support with applications to a number of grant-making bodies and the cost of the repair to the organ will be also covered by a separate grant. The trustees do not think that the charity’s free reserves will be affected by the project.
## **Governance**
The charity is registered with the Charity Commission and operates under the Charities Act 2011. The governing documents for the charity are the Parochial Church Councils (Powers) Measure 1956 (as amended) and the Church Representation Rules 2011.
Page 3
The appointment of GCC members is governed by, and set out in, the Church Representation Rules. The GCC comprises ex-officio members (which includes clergy and churchwardens), elected members and co-opted members. The GCC organises elections annually to fill vacancies. The members of the GCC are the charity's trustees for the purposes of charity law.
Responsibility for setting policy and for making operating decisions rests with the GCC which meets regularly to monitor the activities of the charity.
## **Key risks and uncertainties**
The charity is exposed to various risks - be they operational, financial or reputational. The trustees review the charity's activities regularly to identify significant risks and, where possible, they take appropriate measures to mitigate those risks.
## **Other matters**
With regard to the GCC’s obligations to safeguard children and vulnerable adults, the members of the GCC confirm that they have complied with their duties under section 5 of the Safeguarding and Clergy Discipline Measure 2016.
## **Responsibilities of trustees**
The trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charity as at the balance sheet date and of its incoming resources and application of resources for the financial year. In preparing these financial statements, the trustees are required to:
1. select suitable accounting policies and apply them consistently;
2. observe the methods and principles in the Charities SORP;
3. make judgements and estimates that are reasonable and prudent;
4. state whether the applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
5. prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that 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 Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. 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.
## **Approval**
This report was approved by the trustees and signed on their behalf by:
16/10/23 …………………………………………………………… Date: ……………………………………………………. The Reverend Phillip Martin
Page 4
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE MEMBERS OF**
## **THE GUILD CHURCH COUNCIL OF ST BOTOLPH-WITHOUT-ALDERSGATE ('the Charity')**
I report to the charity trustees on my examination of the accounts of the Charity for the year ended 31 December 2022 on pages 6 to 15 following, which have been prepared on the basis of the accounting policies set out on pages 8 and 9.
## **Responsibilities and basis of report**
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 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. I confirm that I am qualified to undertake the examination because I am a Fellow of the Association of Charity Independent Examiners, which is one of the listed bodies.
I have completed my examination. I 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 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
I 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.
Ajay Rajani FCIE Fellow of the Association of Charity Independent Examiners Stewardship 1 Lamb's Passage London EC1Y 8AB
Date: 19 October 2023
Page 5
## **THE GUILD CHURCH COUNCIL OF ST BOTOLPH-WITHOUT-ALDERSGATE**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
|Note
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investments
**Total income and endowments**
**EXPENDITURE ON:**
Charitable activities
6
**Total expenditure**
**Net income/(expenditure)**
**Transfers between funds**
12
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
12|Unrestricted
Funds
£
11,897
29,974
16,731
89
58,690
64,135
64,135
(5,445)
(33,537)
(38,982)
61,376
22,393|Restricted
Funds
£
227,319
-
-
-
227,319
127,491
127,491
99,828
33,537
133,366
-
133,366|Endowment
Funds
£
-
-
-
-
-
-
-
-
-
-
6,407
6,407|Total
Funds
2022
£
239,215
29,974
16,731
89
286,009
191,626
191,626
94,383
-
94,383
67,783
162,166|Total
Funds
2021
£
108,763
44,044
16,731
-|
|---|---|---|---|---|---|
||||||169,538|
||||||203,463|
||||||203,463|
|||||||
||||||(33,925)
-|
||||||(33,925)
101,708|
||||||67,783|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing operations.
The notes on page 8 to 15 form part of these accounts.
Page 6
## **THE GUILD CHURCH COUNCIL OF ST BOTOLPH-WITHOUT-ALDERSGATE**
## **BALANCE SHEET**
## **AS AT 31 DECEMBER 2022**
|Note
**CURRENT ASSETS**
Debtors
8
Cash at bank and in hand
9
**CREDITORS: Amounts falling**
**due within one year**
10
**TOTAL NET ASSETS**
**FUND BALANCES**
12
Unrestricted Funds
General funds
Designated funds
Restricted Funds
Endowment Funds|Unrestricted
Funds
£
229
31,974
32,202
(9,809)
22,393
22,393
-
22,393
-
-
22,393|Restricted
Funds
£
-
133,366
133,366
-
133,366
-
-
-
133,366
-
133,366|Endowment
Funds
£
-
6,407
6,407
-
6,407
-
-
-
-
6,407
6,407|Total
Funds
2022
£
229
171,746
171,975
(9,809)
162,166
22,393
-
22,393
133,366
6,407
162,166|Total
Funds
2021
£
285
74,551|
|---|---|---|---|---|---|
||||||74,836
(7,053)|
||||||67,783|
||||||61,376
-|
||||||61,376
-
6,407|
||||||67,783|
The financial statements were approved by the members of the GCC and were signed on its behalf by:
--------------------------------------The Reverend Phillip Martin 16/10/23 Date: __________
Charity number: 1144366
The notes on page 8 to 15 form part of these accounts.
Page �
## **THE GUILD CHURCH COUNCIL OF ST BOTOLPH-WITHOUT-ALDERSGATE**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## **1 Statutory Information**
The Guild Church Council of St Botolph-Without-Aldersgate is a charity registered with the Charity Commission in England & Wales. The charity's registered number and principal address can be found on the Charity Information page.
## **2 Accounting Policies**
These financial statements are prepared on a going concern basis, under the historical cost convention. The financial statements include all activities for which the charity is legally responsible; the activities of informal gatherings of church members and groups that owe their main affiliation to another body and are excluded.
These financial statements have been prepared in accordance with The Church Accounting Regulations 2006, the 'Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)' ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102") and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.
The Charities (Accounts and Reports) Regulations 2008 (the '2008 Regulations') requires charities to prepare their accounts in accordance with 'Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005' but this accounting standard has since been withdrawn and has been replaced by the Charities SORP mentioned in the preceding paragraph. The charity has prepared these financial statements in accordance with the new Charities SORP; this departure from the 2008 Regulations is believed to be necessary for these financial statements to give a 'true and fair view'.
The previous year's accounts were prepared using the receipts and payments basis but this year, because the charity's income was more than £250,000, the charity was obliged to prepare its accounts using the accruals basis. The results for 2021, which are comparatives quoted in these accounts, have been restated using the accruals basis (see note 16 for details).
The principles adopted in the preparation of the financial statements are set out below.
## a) Going concern
The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.
## b) Income
Income (which includes planned giving, collections and other donations) is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part income is generally recognised when it is received by, or on behalf of, the charity. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.
Income from donations and legacies includes recoverable gift aid, which is recognised when the related donation is received. Gift aid that has not been recovered by the balance sheet date is included as a debtor.
The charity relies on volunteers to carry out many of its activities. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.
Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity's charitable objects. It includes income from letting facilities for community benefit, provision of staff to another church and event income.
Income from other trading activities represents income receivable from activities undertaken to generate funds for the charity. It comprises income from the placement of a telecommunications aerial on a church building.
Investment income represents income generated by the charity's assets and includes interest on money deposits.
## c) Expenditure
Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Contributions in respect of the diocesan parish share are included in the Statement of Financial Activities for all amounts agreed to being payable for the financial year. Any contributions that have not been paid over by the year end are included as a creditor.
The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.
Page 8
## **THE GUILD CHURCH COUNCIL OF ST BOTOLPH-WITHOUT-ALDERSGATE**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## **2 Accounting Policies continued** c) Expenditure continued
Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.
d) Fund accounting General funds are unrestricted funds which are available for use in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects. Endowment funds are donations that are retained as capital in accordance with the donor's wishes. The nature of the restriction determines whether the endowments represent permanent endowments or expendable endowments. e) Tangible fixed assets Consecrated and beneficed property is not included in these financial statements by virtue of s.10(2) of the Charities Act 2011. All expenditure on consecrated or beneficed buildings is written off in the year in which it is incurred. Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £1,000 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To date no expenditure has been incurred that should be capitalised in accordance with the above policy. f) Leased assets Leases which do not transfer substantially all the risks and rewards of ownership are classified as operating leases. Operating lease payments and receipts are recognised as an expense and as income on a straight-line basis over the lease term. g) Pension scheme arrangements The charity operates defined contribution pension schemes for its employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds. h) Taxation The charity has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income. i) Financial instruments The charity's financial assets and financial liabilities all qualify as basic financial instruments, as defined by FRS102. Except for loans, creditors and debtors are measured at their expected settlement value (normally the amount of cash that the charity expects to pay or receive). The charity recognises liabilities for the principal of those loans that remains outstanding at the year end (i.e. the liabilities exclude any interest chargeable on the loans in future years). j) Exemption from preparing a cashflow statement The charity has taken advantage of an exemption conferred by the Charities SORP and has not prepared a cash flow statement. k) Critical accounting estimates and areas of judgement The trustees do not consider that there are any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period.
## **3 Donations and legacies**
|Donations of cash and similar
Government grants
Job Retention Scheme
Listed Places of Worship Grant Scheme
Other grants receivable
Aldersgate and Moorgate Talks Trust
Diocesan grants
Trust for London grants
Other grants
Gift aid receivable|2022
£
8,384
-
2,266
66,000
5,141
156,250
150
1,024
239,215|2021
£
7,646
21,321
-
76,000
2,500
-
150
1,146|
|---|---|---|
|||108,763|
Page 9
## **THE GUILD CHURCH COUNCIL OF ST BOTOLPH-WITHOUT-ALDERSGATE**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## **4 Income from charitable activities**
|Letting of facilities for community benefit
Staff secondment to Grace Church Dulwich
Other charitable activities
**5**
**Income from other trading activities**
Placement of telecommunications aerial
**6**
**Charitable expenditure**
**a**
**Church ministry expenses**
Diocesan Common Fund
Clergy stipends, accommodation and other expenses
Costs of employed and seconded staff
Other staff and ministry expenses
Venue Hire
Catering
Gift and grant payments
**b**
**Property expenses and similar**
Gas, electricity, water & communications
Repairs and maintenance
Major building work: lighting project
**c**
**Church management and administration**
Governance costs
Independent examiner's fee for preparing and examining the accounts
Legal and professional fees
Administration and support
**Total expenditure**|2022
£
27,926
-
2,048
29,974
2022
£
16,731
16,731
2022
£
28,650
54,481
27,343
11,465
6,279
2,354
147
130,719
8,480
17,973
25,151
51,603
2,760
2,363
4,181
9,304
191,626|2021
£
23,181
19,784
1,080|
|---|---|---|
|||44,044|
|||2021
£
16,731|
|||16,731|
|||2021
£
29,500
86,814
48,182
3,934
2,561
585
104|
|||171,679|
|||7,535
19,155
-|
|||26,690|
|||960
721
3,413|
|||5,094|
|||203,463|
The fee payable to the independent examiner for preparing and examining the accounts was £2,760 (2021: £960); in addition the charity paid £611 (2021: £482) to Stewardship for payroll bureau services.
## **7 Analysis of staff costs, the cost of key management personnel and trustee remuneration**
The average monthly number of employees during the year was 1.4 (2021: 1.3). Most of the charity's activities are carried out by volunteers.
No staff received salaries at a rate of more than £60,000 per annum.
The charity's key management comprise the trustees named on the Charity Information page. The following employment benefits were paid to trustees during the periods when they served as trustees:
|Brian Wong
Julia Tilford|Wages &
salaries
15,900
7,067
22,967|Employer
pension
contributions
2,783
1,237
4,020|2022
£
18,683
8,304|
|---|---|---|---|
||||26,987|
Page 10
## **THE GUILD CHURCH COUNCIL OF ST BOTOLPH-WITHOUT-ALDERSGATE**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## **7 Analysis of staff costs, the cost of key management personnel and trustee remuneration continued**
The following amounts were payable in the previous year:
|following amounts were payable in the previous year:||||
|---|---|---|---|
|Brian Wong
Clare Jackson|Wages &
salaries
1,104
34,979
36,083|Employer
pension
contributions
193
6,121
6,314|2021
£
1,297
41,100|
||||42,397|
Brian Wong served as a lay Men's Worker and Julia Tilford and Clare Jackson served as lay Women's Workers. They received the above payments for serving in that capacity, not for serving as trustees; these payments are permitted by the charity's governing document.
Trustees who serve as clergy are not employed by the charity but the charity does make contributions to the Diocese that are used to help pay them a stipend. They are also provided with accommodation by the charity (which is customary for clergy) and the cost of this accommodation to the charity is included in the charity's expenditure.
## **8 Debtors**
|Gift aid recoverable
**h at Bank and in Hand**
Cash at bank with immediate access
Notice deposits (with a term of three months or less)
Pre-paid debit cards|2022
£
229
229
2022
£
162,456
6,626
2,665
171,746|2021
£
285|
|---|---|---|
|||285|
|||2021
£
67,170
6,537
844|
|||74,551|
## **9 Cash at Bank and in Hand**
## **10 Creditors: liabilities falling due within one year**
|**itors: liabilities falling due within one year**|||
|---|---|---|
|Other creditors
Accruals
Deferred income|2022
£
2,827
2,760
4,222
9,809|2021
£
1,896
1,140
4,017|
|||7,053|
Deferred income comprises rent received in advance for the first quarter of the new financial year when is recognised as income.
## **11 Pension commitments**
During the year employer’s pension contributions totalling £4,070 (2021: £6,894) were payable to defined contribution personal pension schemes. At the balance sheet date pension contributions amounting to £689 (2021: £215) were owing.
Page 11
## **THE GUILD CHURCH COUNCIL OF ST BOTOLPH-WITHOUT-ALDERSGATE**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## **12 Funds**
During the year the movements in the charity's funds were as follows:
|_Designated Funds_
Aldersgate Talks fund
Moorgate Talks fund
_General Unrestricted Funds_
Total Unrestricted Funds
_Restricted Funds_
Aldersgate Talks fund
Moorgate Talks fund
Building fund
Energy support fund
Carol Service fund
_Endowment Funds_
Fabric fund
Aggregate of funds|Opening
balance
2022
£
-
-
-
61,376
61,376
-
-
-
-
-
-
6,407
67,783|Incoming
resources
2022
£
3,562
4,063
7,625
51,065
58,690
27,000
39,000
158,516
2,641
162
227,319
-
286,009|Outgoing
resources
2022
£
(3,562)
(4,063)
(7,625)
(56,510)
(64,135)
(48,245)
(51,293)
(25,151)
(2,641)
(162)
(127,491)
-
(191,626)|Transfers
in the year
2022
£
-
-
-
(33,537)
(33,537)
21,245
12,293
-
-
-
33,537
-
-|Closing
balance
2022
£
-
-|
|---|---|---|---|---|---|
||||||-
22,393|
||||||22,393|
||||||-
-
133,366
-
-|
||||||133,366|
||||||6,407|
||||||162,166|
During the year £33,537 was transferred from general unrestricted funds to restricted funds so that no restricted funds were not in deficit at the year end.
## **Analysis of net assets by fund**
The assets and liabilities of the various funds were as follows:
||Unrestricted Funds|Unrestricted Funds||||
|---|---|---|---|---|---|
||General|Designated|Restricted|Endowment||
||funds|funds|funds|funds|2022|
||£|£|£|£|£|
|Debtors|229|-|-|-|229|
|Cash at bank and in hand|31,974|-|133,366|6,407|171,746|
|Creditors falling due within one year|(9,809)|-|-|-|(9,809)|
||22,393|-|133,366|6,407|162,166|
|In the previous year the movements in the charity's funds were as follows:||||||
||Opening|Incoming|Outgoing|Transfers|Closing|
||balance|resources|resources|in the year|balance|
||2021|2021|2021|2021|2021|
||£|£|£|£|£|
|_Designated Funds_||||||
|Aldersgate Talks fund|-|45,761|(83,939)|38,178|-|
|Moorgate Talks fund|-|59,223|(60,552)|1,330|-|
||-|104,984|(144,491)|39,508|**-**|
|_General Unrestricted Funds_|95,301|64,501|(58,918)|(39,508)|61,376|
|Total Unrestricted Funds|95,301|169,485|(203,410)|-|61,376|
|_Restricted Funds_||||||
|Carol Service fund|-|54|(54)||-|
||-|54|(54)|-|-|
|_Endowment Funds_||||||
|Fabric fund|6,407|-|-|-|6,407|
|Aggregate of funds|101,708|169,538|(203,463)|-|67,783|
Page 12
## **THE GUILD CHURCH COUNCIL OF ST BOTOLPH-WITHOUT-ALDERSGATE**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## **12 Funds continued**
## **Analysis of net assets by fund**
In the previous year, the assets and liabilities of the various funds were as follows:
|Debtors
Cash at bank and in hand
Creditors falling due within one year||General
Designated
funds
funds
£
£
285
-
68,144
-
(7,053)
-
61,376
-
Unrestricted Funds|Restricted
funds
£
-
-
-
-|Endowment
funds
£
-
6,407
-
6,407|2021
£
285
74,551
(7,053)|
|---|---|---|---|---|---|
|||General
funds
£
285
68,144
(7,053)
61,376||||
||||||67,783|
## _**Designated funds**_
The designated **Aldersgate Talks** fund and the designated **Moorgate Talks** fund were created from income set aside to hep meet the cost of operating the 'Aldersgate Talks and 'Moorgate Talks' respectively. These are talks are designed to help people working in the Moorgate and Aldersgate areas to hear the message of Jesus Christ. This income was not received with terms that amount to a restriction.
## _**Restricted funds**_
The restricted **Aldersgate Talks** fund and the restricted **Moorgate Talks** fund were created from grants received from the Aldersgate and Moorgate Talks Trust to help meet the cost of operating the 'Aldersgate Talks and 'Moorgate Talks' respectively. These are talks are designed to help people working in the Moorgate and Aldersgate areas to hear the message of Jesus Christ. In the previous year these grants were included in designated income however, following a review of the terms of the grants, it was decided that these grants would be better reported as restricted income. The corresponding grants received in previous years have been used fully to support the provision of the Talks.
The restricted **Building** fund was created from grants received (principally from the Trust for London) to help pay for repairs and upgrade lighting in the church building.
The restricted **Energy Support** fund was created from a grant received from the Diocese to help with rising energy costs.
## _**Endowment funds**_
The Fabric fund was created from an endowment received many years ago to help fund improvements to the church property.
## **13 Operating leases**
## _Income from operating leases_
The charity has granted an operating lease for the placement of telecommunications equipment on its church building. The minimum amounts receivable (until the next break clause and ignoring the potential effect of future rent reviews and any unforeseen events that could result in early termination) in respect of this lease is as follows:
|Within one year
Between one and five years
Income falling due:|2022
£
16,731
43,501
60,232|2021
£
16,731
60,232|
|---|---|---|
|||76,963|
## _Payments for operating leases_
The charity has a lease for a residential property used by clergy. The minimum amounts payable in respect of this lease (which can be terminated by serving one month's notice) is as follows:
|Within one year
Payments falling due:|2022
£
1,000
1,000|2021
£
1,000|
|---|---|---|
|||1,000|
During the year the charity was charged £12,000 (2021: £18,811) for its leases.
## **14 Transactions with related parties**
Except for the reimbursement of expenses incurred when serving as clergy or when undertaking employment duties or when acting as agent for the charity, no expenses (2021: £nil) were paid to, or for, the trustees.
Except as disclosed in note 7 'Analysis of staff costs', there have been no other transactions with related parties during the year.
Page 13
## **THE GUILD CHURCH COUNCIL OF ST BOTOLPH-WITHOUT-ALDERSGATE**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## **15 Events since the year end**
In the new financial year the charity anticipates that it will spend a further £275,000 on building and lighting works. This work will be largely funded by cash of £133,000 held by the restricted Building fund at the year end and a loan of £148,000 from Trust for London received in 2023. The loan from Trust for London is repayable by end of 2024 and progress has been made in raising the funds that will be needed to make the loan repayments. The trustees are satisfied that the charity will be able to maintain reserves at a level that will enable it to continue operating without difficulty.
## **16 Reconciliation with previously reported funds**
In the previous year the charity prepared its accounts using the receipts and payments basis; in the current year the charity's income exceeded £250,000 and so it is now obliged to use the accruals basis for the preparation of its accounts. The comparatives presented in these accounts have been re-stated using the accruals basis and a reconciliation with the reserves and results reported previously follows:
_Reconciliation of reserves_
|_nciliation of reserves_|||
|---|---|---|
|Previously reported reserves, at 31 December
Adjustments arising from use of accruals basis:
Inclusion of previously excluded debtors
Inclusion of previously excluded creditors
Re-stated reserves, at 31 December|2021
£
74,551
285
(7,053)
67,783|2020
£
108,087
284
(6,663)|
|||101,708|
## _Reconciliation of results_
|_nciliation of results_||
|---|---|
|Previously reported results
Adjustments arising from use of accruals basis:
Movements in debtors resulting in the recognition of more / (less) income
Movements in creditors resulting in the recognition of less / (more) expenditure
Re-stated results|2021
£
(33,537)
1
(390)|
||(33,925)|
Page 14
## **THE GUILD CHURCH COUNCIL OF ST BOTOLPH-WITHOUT-ALDERSGATE**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
|Note
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investments
**Total income and endowments**
**EXPENDITURE ON:**
Charitable activities:
6
**Total Expenditure**
**Net income/(expenditure)**
**Transfers between funds**
12
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
12|||Unrestric|Designated
2022
£
6,824
801
-
-
7,625
7,625
7,625
-
-
-
-
-
ted funds|Restricted
2022
£
227,319
-
-
-
227,319
127,491
127,491
99,828
33,537
133,366
-
133,366|Endowment
2022
£
-
-
-
-
-
-
-
-
-
6,407
6,407|Total
2022
£
239,215
29,974
16,731
89
286,009
191,626
191,626
94,383
-
94,383
67,783
162,166|||General
2021
£
3,726
44,044
16,731
-
64,501
58,918
58,918
5,583
(39,508)
(33,925)
95,301
61,376
Unrestric|Unrestric|Designated
2021
£
104,984
-
-
-
104,984
144,491
144,491
(39,508)
39,508
-
-
-
ted funds|Restricted
2021
£
54
-
-
-
54
54
54
-
-
-
-
-|Endowment
2021
£
-
-
-
-
-
-
-
-
6,407
6,407|Total
2021
£
108,763
44,044
16,731
-
169,538
203,463
203,463
(33,925)
-
(33,925)
101,708
67,783|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||||||||
|||||||||||||||||
|||||||||||||||||
|||||||||||||||||
Page 15