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← Central Church Swindon Lep

2023-12-31-accounts

REGISTERED CHARITY NUMBER: 1145817

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 December 2023

for

Central Church Swindon

Monahans Chartered Accountants Hermes House Fire Fly Avenue Swindon Wiltshire SN2 2GA

Central Church Swindon

Contents of the Financial Statements for the Year Ended 31 December 2023

Page
Report of the Trustees 1 to 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Financial Statements 10 to 17

Central Church Swindon

Report of the Trustees for the Year Ended 31 December 2023

The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES

The purpose of the charity is to advance the Christian faith in the Area of Benefit in accordance with the principles and practices of the participating churches. In achieving its purpose, the charity will engage in a range of activities, either on its own or with others, including (but not restricted to):

c) Mission and evangelism, pastoral work (including visiting the sick and bereaved), the provision of facilities with a Christian ethos for the local community including the elderly, the young and other groups with special needs d) The support of other charities in the UK and overseas.

The trustees have paid due regard to the Charity Commission's guidance on public benefit in deciding what activities the charity should undertake. The trustees consider that they have acted in the public benefit.

Page 1

Central Church Swindon

Report of the Trustees for the Year Ended 31 December 2023

ACHIEVEMENT AND PERFORMANCE

THE CHURCH

We have a weekly Sunday worship service commencing at 10.30 a.m. Holy Communion is included during the service twice a month, usually when our own minister is presiding. Prayers for healing and wholeness are offered by the minister, on request at the end of each service. We are extremely grateful to everyone who participates in church life whether contributing to Sunday worship or enabling weekday activities.

Due to low numbers, there is no longer a Junior Family Church (JFC) for children and young people but, if any children do attend, colouring materials/toys can be made available. We will reconsider reinstating JFC should children start attending again. We are aware that many children are involved in other activities on Sunday mornings and if we had the right people to run them, we would consider holding meetings for young people and children during the week.

We also hold extra special services during the major Christian festivals, for example, Maundy Thursday, Good Friday, Easter and Christmas. The minister takes Holy Communion to the housebound when requested.

A monthly newsletter is distributed at church, via email and by post. This carries news of the church family, notification of events, and items of general interest. This is available to everyone, and copies are taken to the housebound.

A number of organists/pianists provide music for worship. These include Ms Hannah Brooke, Ms Bethany Brooke, and Mrs Carolyn Wallbank. We are also grateful to Mrs Alison Henderson, who plays the piano on occasional Sundays throughout the year. It is extremely fortunate that our minister, Revd Jonathan Edwards, plays the organ on some Sundays when he is preaching.

Our membership at 31 December 2023 stood at 47. We also have a number of adherents who are faithful attendees but are not full members. Our average weekly attendance is 34 adults. We are in contact with a number of families although the children and teenagers have largely ceased to attend. There are a number of reasons for this, notably other activities take place on Sunday morning. Three of our members died during 2023.

It was good to hold some of our special services in 2023 such as our Church Anniversary, Easter and Carols by Candlelight with Christingles. The church is beautifully decorated with flowers by two of our members each Sunday and there are extra decorations for special services such as Harvest and Christmas when they have extra help.

We continue to collect and deliver food and other items for the Swindon Food Collective (Foodbank) throughout the year. Our financial giving at Harvest went to the URC Commitment for Life to support agricultural projects in Zimbabwe.

Our Transitional minister, Revd Jonathan Edwards, continued meeting individuals in the congregation to give pastoral support and to find out what they felt about the future of the church. He also continued meeting with other clergy in the town, and also with charities who we might be able to work with in order to fulfil our charitable objectives more fully. The most effective ecumenical body in the town at present is Good News for Swindon and Jonathan has regularly attended its meetings throughout the year.

Church Decoration : The first Sunday in Advent (Advent Sunday) always sees our church decorated for the coming festive season. The Advent Wreath is on display at the front of the church in readiness for the four Advent Candles to be lit, week by week, in sequence. At the beginning of the Christmas morning service the central white candle, the Christ Candle, is lit. We also have a Christmas tree and nativity scene at the front of the church.

Carol Service : We hold our candlelight service of lessons and carols, with Christingles on the Sunday before Christmas. This service is always followed by a 'bring and share' meal. As usual, it was well supported and much appreciated and was a great opportunity to socialise.

Christmas Presents for the housebound and members who have been bereaved during the past year : Central Church always purchases a present for those members/adherents of our congregation who are housebound and are no longer able to get to church as they once did. We also purchase a gift for anyone who has been bereaved during the current year.

Christmas Morning Service : This is always a lovely family service when children and adults alike welcome the Christ Child in the manger into our world. The children are invited to bring along one or two of Santa's presents.

Our Christmas Gift Appeal : This year we collected luxury food items for Swindon Food Collective. The Christmas Day offering was given to Christian Aid.

Page 2

Central Church Swindon

Report of the Trustees for the Year Ended 31 December 2023

Church Facilities : The church facilities are also used by two other worshipping communities. These are New Life Christian Ministry, led by Pastor Alphonso Davis; and Lagohina Brazilian Baptist Church, led by Flavio and Sabrina Luz. Both make good use of the premises including the Baptistery for baptism by full immersion. Big Breakfast Plus, who provide cooked meals for those sleeping rough and those in food poverty, continue to use our café. They are open from 7-9 a.m. seven days a week and serve approximately 80-100 meals per day. Alternative Angels, who also provide meals for the homeless and those in need, operate from our café on a Monday and Tuesday evening, between 6-8 p.m. to distribute meals. They also serve between 80-100 people.

Safeguarding : This is taken very seriously. All relevant people involved with children or vulnerable adults hold a Disclosure and Barring Service (DBS) check and have undertaken appropriate training.

Bible Study Group : This has met fortnightly and is led by Revd Jonathan Edwards.

Prayer Fellowship : This has now been incorporated into the Bible Study Group. However, members also keep each other informed of prayer requests and so individual prayer at home continues.

World Church Group : This group no longer meets. However newsletters and information was still shared as much as possible. The link with Baptist missionaries, Daniel, Regiane and Anna Sophia Clark, remain and it was good to receive their letters and to hear about their work in Peru. A BMS missionary, Lucia Bastos, worshipped with us for 3 months whilst on furlough in this country. She has now started work in Chad and we intend to stay in contact with her. Stories for Change, the newsletter for Commitment for Life, was circulated where possible.

Central Church also supports the work of Amnesty International. The congregation participated in the 'Write for Rights' campaign.

Fundraising : £368.09 was raised for Christian Aid over Christmas. We have also financially supported Alternative Angels, Prospect Hospice, Wiltshire Air Ambulance and Macmillan Cancer Support through coffee mornings and a donation box kept at the church. Some members also give to the BMS Birthday Scheme and Action for Children through the lantern collection boxes. We are committed to continuing to look outward to support the vulnerable and disadvantaged both at home and abroad.

Benevolent Fund : The minister is empowered to make donations to any of our number who are in special need.

THE PILGRIM CENTRE

It was another busy year regarding maintenance. We discovered a fresh leak in the roof, not associated with the previous issues. We were alerted to the need to repair our coping stones and we had the gutters cleared and the moss on the roof removed. Our café was flooded due to heavy rain and we had to have our drains unblocked. We had work done on the boiler and associated electrical work. We replaced the lights on the ground floor: kitchen, café and foyer, with LED lights as part of our commitment to being a greener church.

In July we took on a self-employed, part-time caretaker. Neil Boulton has proved to be a great asset. Christine Durant continues to oversee all the maintenance work and maintained a presence in the office. She continued to deal with bookings which were quite buoyant throughout the year.

Cleaners : Big Breakfast Plus are prepared to do their own cleaning on a day to day basis, but Mrs Sandy Chilvers, one of our congregation, goes into the café twice a week to wash and polish the floors . Mrs Jane Corcoran continues to clean the rest of the building.

CHURCH IN THE COMMUNITY

Community Café : We opened a community café in February 2023. This is staffed by volunteers from the church and offers free hot drinks and cake to anyone who comes. It is open from 10 a.m. - 1 p.m. each Monday, closed on Bank Holidays. The cakes are donated by members of the congregation and although free, visitors can make a financial donation if they wish. An average of 25 people attend and they represent a cross-section of the community including vulnerable people who need a safe, warm place to sit where they will be made welcome. Carol singing took place there on the Monday before Christmas and this was a joyful occasion.

Lent Lunches : These are weekly simple meals comprising of soup, cheese and biscuits, organised in rotation by Churches Together in Swindon Centre (CTiSC) to raise money for Christian Aid and CAFOD (Catholic Agency for Overseas Development). Central Church was responsible for providing the first lunch.

Friends of Swindon Commercial Chaplaincy (SCC) : Central Church and the Pilgrim Centre have kindly allowed SCC to use an office in the Pilgrim Centre. They also use the Centre as their registered address. Central Church and a number of individuals have become a 'Friend of SCC' by supporting the charity financially and with prayer.

Page 3

Central Church Swindon

Report of the Trustees for the Year Ended 31 December 2023

FINANCIAL REVIEW

At 31 December 2023, total funds were £1,414,311. Restricted funds were £911,285 and endowment funds were £287,791. Unrestricted reserves were £215,235. Free reserves, after making allowance for tangible fixed assets, were £212,093.

The trustees' reserve policy is to maintain free reserves at a level which equates to approximately six months costs in order to cover unplanned situations that may occur from time to time. This is in line with good practice and follows the recommendations of the charity commission. Based on the present level of costs the required free reserves are £50,000. Reserves held are above the required level.

Room hire bookings continued to hold up well. Some customers, such as the NHS Blood and Transplant Service, continued to use our building. We do have enough reserves to cover our expenses for the foreseeable future.

FUTURE PLANS

Goals for 2024 - We will continue to seek to strengthen the spiritual life of the church through our Sunday services and by holding weekday bible studies.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

Page 4

Central Church Swindon

Report of the Trustees for the Year Ended 31 December 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

We are a single congregation church comprised of three denominations. We are recognised by the Baptist Union of Great Britain (BUGB), and locally by the West of England Baptist Network (Webnet); Methodist Connexion, locally by the North Wiltshire Methodist Circuit; and the United Reformed Church General Assembly, locally by the South Western Synod. We serve the Swindon town centre area. Our membership is also drawn from other areas of the town. We are members of Churches Together in Swindon Centre (CTiSC).

Our church minister is normally taken in rotation from the three denominations. We currently have a transitional minister from the Baptist Revd Jonathan Edwards.

Central Church operates from the purpose-built Pilgrim Centre. The building comprises a ground floor café and kitchen, the first floor Worship Area and Activity Hall and second and third floors which are meeting rooms and offices. There are toilet facilities on each floor and a kitchenette. The meeting rooms are available for hire by the community.

Trustees : Judith Furse (Chair), June Osborne, Sue Mason, Joanna Struthers-Frost, Andrea McNab, Marion Manning and Christine Durant.

Executive : The trustees are all members of our elected Executive who oversee the running of the church and premises. The Executive meets six times a year. Elections are held during our annual Church Meeting, with all elected positions held for three years maximum before re-standing for election. We also have one ex-officio member of the Executive, our minister Revd Jonathan Edwards.

Other Officers serving Central Church and the Pilgrim Centre :

Secretariat: Christine Durant (admin and correspondence), Marion Manning (membership), June Osborne (pulpit fill) and Jo Dance (visiting preachers admin) Finance Officer: Sue Mason assisted by Christine Durant Finance Data Input and Report Writing: Monahans Chartered Accountants Cash Counting: Frank Gleed Gift Aid: Marion Manning Chair of Church Meeting: Revd Jonathan Edwards Staffing Officer: Judith Furse Safeguarding Officer: Sue Mason assisted by Hannah Evans Information Officer: Vacancy

Pastoral Committee : Elected Members - Mavis Poolman and Jane Walsh. Glenys Thomas retired in March at the AGM and has not been replaced. Revd Jonathan Edwards chairs this committee as an ex-officio member. Along with the pastoral members, Jonathan and Christine Durant visit our sick and elderly.

Induction and training of trustees : Resources are available for training any new trustees in their duties e.g. our constitution model document, standing orders, website, Charity Commission website, local knowledge. Many of our Executive have been in service for many years. All legal requirements regarding ongoing information is continually updated and displayed throughout the building.

External Representation : Locally we have representatives on Good News for Swindon: Revd Jonathan Edwards Churches Together in Swindon Centre (CTiSC): Revd Jonathan Edwards, Judith Furse West of England Baptist Network (Webnet): Revd Jonathan Edwards North Wiltshire Methodist Circuit: Christine Durant, Judith Furse United Reformed Church SW Synod: Judith Furse We are also involved in the local Interfaith Group.

Properties : The legal title of properties managed by the church Trustees belong to the following as custodian trustees: West of England Baptist Trust Company, United Reformed Church and the Methodist Church.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1145817

Principal address

The Pilgrim Centre Regent Circus Swindon Wiltshire SN1 1PX

Page 5

Central Church Swindon

Report of the Trustees for the Year Ended 31 December 2023

Trustees

J Furse C Durant S Mason J Osborne J Struthers-Frost A McNab

Independent Examiner

James Gare Monahans Chartered Accountants Hermes House Fire Fly Avenue Swindon Wiltshire SN2 2GA

Financial/Investment

West of England Baptist Association (WEBA), United Reformed Church (URC), and Methodist Finance Board.

Contact details

Web Site Central Church: www.centralchurch.org Email: pilcen@aol.com Tel: 01793 537642

Approved by order of the board of trustees on ............................................. and signed on its behalf by: 17 March 2024

........................................................................ J Furse - Trustee

Page 6

Independent Examiner's Report to the Trustees of Central Church Swindon

Independent examiner's report to the trustees of Central Church Swindon

I report to the charity trustees on my examination of the accounts of Central Church Swindon (the Trust) for the year ended 31 December 2023.

Responsibilities and basis of report

As the charity trustees of the Trust 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 Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or

  2. 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.

Monahans provide book-keeping services to Central Church Swindon. The examiner has applied the FRC’s Revised Ethical Standard in regard to these services.

James Gare

Monahans Chartered Accountants Hermes House Fire Fly Avenue Swindon Wiltshire SN2 2GA

Date: ............................................. 26 March 2024

Page 7

Central Church Swindon

Statement of Financial Activities for the Year Ended 31 December 2023

Notes
INCOME AND ENDOWMENTS
FROM
Donations and legacies
2
Other trading activities
3
Investment income
4
Total
EXPENDITURE ON
Raising funds
5
Charitable activities
6
Church activities
Total
Net gains/(losses) on
investments
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED
FORWARD		 Unrestricted
funds
£
35,099
24,803
42,623
102,525
28
97,060
97,088
9,573
15,010
200,225
215,235		 Restricted
funds
£
-
-
11,709
11,709
550
890
1,440
63,153
73,422
837,863
911,285		 Endowment
fund
£
-
-
-
-
3,349
-
3,349
38,486
35,137
252,654
287,791		 2023
Total
funds
£
35,099
24,803
54,332
114,234
3,927
97,950
101,877
111,212
123,569
1,290,742
1,414,311		 2022
Total
funds
£
24,464
20,690
50,485
95,639
9,466
68,988
78,454
(102,196)
(85,011)
1,375,753
1,290,742

The notes form part of these financial statements

Page 8

Central Church Swindon

FIXED ASSETS
Tangible assets
Investments
Investments
Investment property
CURRENT ASSETS
Debtors
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
Unrestricted funds
Restricted funds
Endowment funds
TOTAL FUNDS		 Balance Sheet
31 December 2023
Notes
11
12
13
14
15
16
18		 2023
£
3,142
970,098
285,000
1,258,240
7,264
157,342
164,606
(8,535)
156,071
1,414,311
1,414,311
215,235
911,285
287,791
1,414,311		 2022
£
4,288
897,371
246,514
1,148,173
5,845
142,241
148,086
(5,517)
142,569
1,290,742
1,290,742
200,225
837,863
252,654
1,290,742

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 17 March 2024

............................................. C Durant - Trustee

............................................. S Mason - Trustee

The notes form part of these financial statements

Page 9

Central Church Swindon

Notes to the Financial Statements for the Year Ended 31 December 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following the 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) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest pound.

There are no significant areas of judgements or key sources of estimation uncertainty.

The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.

Legal status of the charity

The charity is an unincorporated charity, constituted by a trust deed.

The registered office address and the nature of the charity's operations and principal activities of the charity are given in the trustees report.

Financial reporting standard 102 - reduced disclosure exemptions

The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.

Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts.

Incoming resources from charitable trading activity are accounted for when earned.

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 bank.

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally upon notification by our investment advisor of the dividend yield of the investment portfolio.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Page 10

continued...

Central Church Swindon

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

1. ACCOUNTING POLICIES - continued

Governance costs

Governance costs include costs of the preparation and examination of the statutory accounts, the cost of trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Equipment - 20% on straight line basis Fixtures and fittings - 20% on straight line basis

Freehold property

The Pilgrim Centre is owned by the Baptist Church (two thirds), Methodist (one sixth) and United Reform Church (URC) (one sixth). The Manse is owned by the URC. Expenditure incurred on the church and manse is written off in the year it is incurred.

The above properties are not recognised as assets of the charity.

Investments

Investments are included at market value at the balance sheet date. Any gain or loss on revaluation is included in the Statement of Financial Activities as unrealised.

Investment property

The church receives an annual rent from a property that is held upon trust by the West of England Baptist Association (WEBA) Trustees. Investment properties are included in the accounts at open market value. All movements arising from revaluation are shown in the Statement of Financial Activities. Realised gains and losses on investment properties are calculated as the difference between the disposal proceeds and the market value at the beginning of the year or cost of purchases during the year. Unrealised gains and losses are derived form the movement in the market values during the year.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and cash 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.

Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

Taxation

The church is an excepted charity within the meaning of the Taxes Acts. Accordingly it is potentially exempt from taxation in respect income and capital gains received to the extent that such income or gains are applied exclusively to charitable purposes. No provision for taxation has been made in these financial statements.

Fund accounting

Unrestricted funds are available for use at the discretion of the church in the furtherance of its charitable objectives.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor, or contained in the terms of the grant.

Endowment funds are funds which are held subject to donor-imposed stipulations that they be maintained as capital. The income earned from these funds is used for general purposes where allowed or for the specific purposes intended. The aim and use of each endowment fund is set out in the notes to the accounts.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Page 11

continued...

Central Church Swindon

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

2. DONATIONS AND LEGACIES

2023
£
Donations and collections
21,609
Gift aid
3,490
Legacies
10,000
35,099
3.
OTHER TRADING ACTIVITIES
2023
£
Hire of Pilgrim Centre
24,803
4.
INVESTMENT INCOME
2023
£
Rents received
23,364
Income from fixed asset investments
28,109
Deposit account interest
2,859
54,332
5.
RAISING FUNDS
Investment management costs
2023
£
Portfolio management
578
Rental property expenses
3,349
3,927
6.
CHARITABLE ACTIVITIES COSTS
Direct
Support
Costs (see
costs (see
note 7)
note 8)
£
£
Church activities
26,662
71,288
7.
DIRECT COSTS OF CHARITABLE ACTIVITIES
2023
£
Sundries
1,307
Denominations and assessments
6,246
Worship
1,963
Minister payments
16,891
Donations
255
26,662		 2022
£
21,553
2,911
-
24,464
2022
£
20,690
2022
£
24,552
25,648
285
50,485
2022
£
578
8,888
9,466
Totals
£
97,950
2022
£
1,074
7,771
2,226
12,542
337
23,950

Page 12

continued...

Central Church Swindon

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

8. SUPPORT COSTS

SUPPORT COSTS
Governance
Management costs Totals
£ £ £
Church activities 68,351 2,937 71,288
Support costs, included in the above, are as follows:
Management
2023 2022
Church Total
activities activities
£ £
Rates and water 3,522 60
Insurance 4,023 3,585
Light and heat 18,776 14,899
Telephone and internet 2,415 2,122
Printing, postage and stationery 1,281 1,680
Cleaning and household 6,709 3,980
Repairs and renewals 27,696 11,515
Bookkeeping, management accounts and
payroll 2,784 2,714
Depreciation of tangible and heritage assets 1,145 2,163
68,351 42,718
Governance costs
2023 2022
Church Total
activities activities
£ £
Independent examination and accountancy 2,937 2,320

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
Other trading activities
Investment income
Total
EXPENDITURE ON
Raising funds
Charitable activities
Church activities
Total		 Unrestricted
funds
£
19,752
20,690
41,173
81,615
6,791
68,988
75,779		 Restricted
funds
£
4,712
-
9,312
14,024
550
-
550		 Endowment
fund
£
-
-
-
-
2,125
-
2,125		 Total
funds
£
24,464
20,690
50,485
95,639
9,466
68,988
78,454

Page 13

continued...

Central Church Swindon

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

10.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
Endowment
funds
funds
fund
£
£
£
Net gains/(losses) on investments
(13,479)
(88,717)
-
NET INCOME/(EXPENDITURE)
(7,643)
(75,243)
(2,125)
Transfers between funds
3,712
(3,712)
-
Net movement in funds
(3,931)
(78,955)
(2,125)
RECONCILIATION OF FUNDS
Total funds brought forward
204,156
916,818
254,779
TOTAL FUNDS CARRIED FORWARD
200,225
837,863
252,654
11.
TANGIBLE FIXED ASSETS
Fixtures
and
Equipment
fittings
£
£
COST
At 1 January 2023 and 31 December 2023
27,755
27,410
DEPRECIATION
At 1 January 2023
26,321
24,556
Charge for year
359
787
At 31 December 2023
26,680
25,343
NET BOOK VALUE
At 31 December 2023
1,075
2,067
At 31 December 2022
1,434
2,854
12.
FIXED ASSET INVESTMENTS
West of
England
United
Baptist
Reform
Trust Co.
Church
£
£
MARKET VALUE
At 1 January 2023
349,796
547,575
Unrealised gains
19,492
53,235
At 31 December 2023
369,288
600,810
NET BOOK VALUE
At 31 December 2023
369,288
600,810
At 31 December 2022
349,796
547,575		 Total
funds
£
(102,196)
(85,011)
-
(85,011)
1,375,753
1,290,742
Totals
£
55,165
50,877
1,146
52,023
3,142
4,288
Totals
£
897,371
72,727
970,098
970,098
897,371

Investments held by the West of England Baptist Trust Company are used to fund significant repairs to the Pilgrim Centre. Investments held by the United Reform Church are for significant repairs to the manse. There were no investment assets outside the UK. During the year ended 31 December 2018, £80,000 of unrestricted funds were invested in the United Reform Church fund.

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Central Church Swindon

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

13. INVESTMENT PROPERTY

INVESTMENT PROPERTY
FAIR VALUE
At 1 January 2023
Revaluation
At 31 December 2023
NET BOOK VALUE
At 31 December 2023
At 31 December 2022		 £
246,514
38,486
285,000
285,000
246,514

The investment property was purchased in January 2020. The trustees have revalued the property at 31 December 2023 with reference to recent sales prices of similar properties.

Fair value at 31 December 2023 is represented by:

Fair value at 31 December 2023 is represented by:
Valuation in 2023
Cost		 £
38,486
246,514
285,000

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Prepayments and accrued income		 2023
£
792
6,472
7,264		 2022
£
581
5,264
5,845

15. CASH AT BANK AND IN HAND

Included in cash is £53,114 (2022: £41,955) which is held on deposit by the West of England Baptist Trust Company.

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Other creditors
Accrued expenses		 2023
£
38
1,042
7,455
8,535		 2022
£
-
1,098
4,419
5,517

17. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fixed assets
Investments
Current assets
Current liabilities		 Unrestricted
funds
£
3,142
112,036
108,592
(8,535)
215,235		 Restricted
funds
£
-
858,062
53,223
-
911,285		 Endowment
fund
£
-
285,000
2,791
-
287,791		 2023
Total
funds
£
3,142
1,255,098
164,606
(8,535)
1,414,311		 2022
Total
funds
£
4,288
1,143,885
148,086
(5,517
1,290,742

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Central Church Swindon

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

18. MOVEMENT IN FUNDS

MOVEMENT IN FUNDS
Net
movement At
At 1.1.23 in funds 31.12.23
£ £ £
Unrestricted funds
General fund 200,225 15,010 215,235
Restricted funds
Swindon Church Fund 391,751 30,650 422,401
URC Fund 445,112 43,662 488,774
Benevolent Fund 1,000 (890) 110
837,863 73,422 911,285
Endowment funds
Property - Baptist 252,654 35,137 287,791
TOTAL FUNDS 1,290,742 123,569 1,414,311
Net movement in funds, included in the above are as follows:
Incoming Resources Gains and Movement
resources expended losses in funds
£ £ £ £
Unrestricted funds
General fund 102,525 (97,088) 9,573 15,010
Restricted funds
Swindon Church Fund 11,709 (550) 19,491 30,650
URC Fund - - 43,662 43,662
Benevolent Fund - (890) - (890)
11,709 (1,440) 63,153 73,422
Endowment funds
Property - Baptist - (3,349) 38,486 35,137
TOTAL FUNDS 114,234 (101,877) 111,212 123,569
Comparatives for movement in funds
Net Transfers
movement between At
At 1.1.22 in funds funds 31.12.22
£ £ £ £
Unrestricted funds
General fund 204,156 (7,643) 3,712 200,225
Restricted funds
Swindon Church Fund 414,440 (22,689) - 391,751
URC Fund 502,378 (57,266) - 445,112
Equipment - 3,712 (3,712) -
Benevolent Fund - 1,000 - 1,000
916,818 (75,243) (3,712) 837,863
Endowment funds
Property - Baptist 254,779 (2,125) - 252,654
TOTAL FUNDS 1,375,753 (85,011) - 1,290,742

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Central Church Swindon

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

18. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Swindon Church Fund
URC Fund
Equipment
Benevolent Fund
Endowment funds
Property - Baptist
TOTAL FUNDS
Endowment funds		 Incoming
resources
£
81,615
9,312
-
3,712
1,000
14,024
-
95,639		 Resources
expended
£
(75,779)
(550)
-
-
-
(550)
(2,125)
(78,454)		 Gains and
Movement
losses
in funds
£
£
(13,479)
(7,643)
(31,451)
(22,689)
(57,266)
(57,266)
-
3,712
-
1,000
(88,717)
(75,243)
-
(2,125)
(102,196)
(85,011)
Property - Baptist
-
This fund represents the value of the Investment property (plus excess cash
from the sale of the previous investment property) managed by the church as
managing trustees, the deeds of which are held by the West of England Baptist
Trust company as custodian trustee. The fund is held for the general purpose
of the charity.

Restricted funds

Restricted funds are subjected to restrictions on their expenditure imposed by the donor, or contained in the terms of the grant. The purpose of the above restricted funds are as follows;

Swindon Church Fund - This represents funds held by the West of England Baptist Trust Company on
behalf of the church and is to cover significant repairs to the Pilgrim Centre
building.
URC Fund - The URC Fund is restricted to use on the United Reform Church manse and
other related activities. It is represented by investments held on trust for the
Church by the United Reform Church.
Flower Fund - The Flower Fund provides flowers for the church and for members who are ill.
Manse Repair Fund - The Manse Repair Fund represents monies received to fund repairs to the
Manse
Equipment - Donations were received towards the purchase of a dishwasher and a
defibrillator.
Benevolent fund - A donation was received to support anyone in the church's fellowship who
might need extra help

19. RELATED PARTY DISCLOSURES

Total donations of £2,120 were received from trustees. These donations were all given without conditions. Trustees also donate via church plate collections. These amounts are not recorded separately

There were no other related party transactions for the year ended 31 December 2023.

Page 17