Hayling Island Baptist Church
ANNUAL REPORT AND STATEMENT OF ACCOUNTS FOR THE YEAR ENDED 31 OF DECEMBER 2023
Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham PO18 8NF
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Hayling Island Baptist Church
CONTENTS
Page 3 Legal and Administrative Information Page 4 to 6 Trustees' Annual Report Pages 7 Independent Examiner's Report on the accounts Page 8 Statement of Financial Activities Page 9 Balance Sheet Pages 10 to 16 Notes to the Financial Statements
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Hayling Island Baptist Church
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER
1146412
START OF FINANCIAL YEAR
1st January 2023
END OF FINANCIAL YEAR
31st December 2023
TRUSTEES SERVING DURING THE YEAR 2023
Revd Richard Ellingham - Appointed on 14.01.2023 Mr Ian Grey - Secretary - Resigned in July 2023 Mr Andy Keen - Resigned in June 2023
Miss Claire Roberts - Resigned in June 2023
Mrs Millie Billett
Mrs Christy Kalfas
Mr Terry Worrall - Treasurer - Resigned in Dec 2023 Mrs Janet Eaves - Appointed on 16.05.2023 Mrs Sally Griffiths - Appointed on 16.05.2023 Dr Patricia Priest - Appointed on 16.05.2023
SECRETARY
Mrs Sally Griffiths
GOVERNING DOCUMENT
Constitution Document adopted on 23 Nov 2011, revised on the 11th April 2016
OBJECTIVES The principal purpose of the Church is the advancement of the Christian faith according to the principals of the Baptist Denomination.
The Church may also advance education and carry out other charitable purposes in the United Kingdom and/or other parts of the world.
REGISTERED ADDRESS Hayling Island Baptist Church 274 Sea Front Hayling Island PO11 0AZ
BANKING Nat West
INDEPENDENT EXAMINER Independent Examiners Ltd Unit 2, The Broadbridge Business Centre Delling Lane Bosham PO18 8NF
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Hayling Island Baptist Church
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
Membership
The Church currently has a membership of 55. This year we have had 11 new members join the church. This represents an increase of 20%. On Sundays we continue to worship in Hayling Island Community Centre (HICC). Our Service begins at 10:00 and attracts an average regular congregation of 60 people. The overall breakdown by age of our church attendance numbers is as follows:
Children under 11: 1 Young People 11-16: 0 Young Adults 17-20: 0 Adults 21-29: 1 Adults 30-65: 39 Seniors 66+: 35
The Church Members Meeting
During 2023 there were 4 church members meetings with an average attendance of 80% of the membership.
Young Peoples Work
Sunday Club
The aim of the Sunday Club is to introduce young hearts and minds to Jesus through Christian teaching based on the Bible. The Sunday Club consists of seven helpers who share this responsibility. Currently we have one child (age 6) that attends on a weekly basis and two children (ages 7 and 9) that on average attend once a month. Occasionally we have welcomed visitors to the church and had children in Sunday Club between the ages of 7- 13.
To achieve our aim, we have used “The Jesus Story Book Bible”. This includes a DVD which is used to tell the Bible story of the day. This is followed by an activity, such as craft work or word search, to introduce the story to the children and then we used structured teaching notes to help the children understand the story and apply what it teaches. Finally, there is an activity sheet for the children to complete which is used as guidance for a time of prayer.
Open The Book
We have several church members working with Christians from other churches on Hayling Island on a programme called ‘Open the Book’. Open the Book is an exciting storytelling project where Bible stories are shared with children in a way that is fun, interactive, and memorable. As invited guests in school, these storytelling teams use the Open the Book programme produced by The Bible Society to prepare and present a 10–15-minute scripted Bible story to a school assembly, involving the children as much as possible.
Families And Community Work
Hayling Holiday Lunches (HHL)
Hayling Holiday lunches was set up to make deliveries of food during the school holidays to needy families living on Hayling Island. We liaise with the 5 schools on the island to identify these families, all of whom qualify for free school meals during term times. Currently we supply 94 families including 209 children. We have a team of dedicated helpers who work together to collect, store, sort and deliver donated foodstuffs during the 11 school holiday weeks per annum. We also make targeted appeals to those who generously donate for foods that we are short of. This year we have raised £23,992.50 through personal donations grants and gifts. The monies are used to supplement food donations we receive. With it we purchase the more perishable foods that cannot be easily stored such as fresh fruit.
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Hayling Island Baptist Church
TRUSTEES' REPORT (Continued)
FOR THE YEAR ENDED 31 DECEMBER 2023
The Story
As an extension of HHL we set up a pilot outreach event called ‘The Story’. The Story is a two-hour fun filled event designed for families to enjoy together. It is designed to take place on a Saturday afternoon, typically between 4:00pm and 6:00pm. The afternoons programme includes games, craft type activities, and an ‘acted out’ Bible story. The programme ends with a two-course meal for the families that attend. The pilot event was hosted in November and attracted 8 families. We will be planning more of these family outreach events in 2024.
Transforming Lives for Good (TLG) Early Intervention Programme
In November the church membership agreed to get involved with TLG’s Early Intervention Programme. This project involves a team of volunteers partnering with a local school to reach out to and support children in local schools that are in danger of exclusion.
We await the assignment of a local school.
The Past Year
Our new part time pastor was inducted to the church on 7 January 2023.
The church has purchased a manse which our pastor and his wife moved into on 27 February 2023. Prior to them moving in the manse they were living on the island in short term Air B&B accommodation.
With the influx of new members and additional attendees to the church we set up a new Discipleship Group (DGp). This takes the total number of DGp’s to 7. The new group consists of 7 members.
We have reintroduced a dedicated time of corporate prayer called Prayer and Pizza. This event takes place on the third Sunday evening of each month and is hosted in the manse. It is mainly led by our minister, but occasionally other attendees are invited to lead the evening. Average attendance has been 12 people per session.
There have been several social events throughout the year such as skittles evenings, bring and share lunches, curry nights, outside Sunday services with a picnic, DGp social nights. All good events for building relationships within our fellowship and community.
Future Vision
As a community of believers there is a desire to see continued and consistent growth in the church. We would like to see people growing in their personal faith and in their discipleship. There is a desire to strengthen our outreach particularly to men and to families.
‘Carols by candlelight’ is an annual Christmas outreach event that continues to attract local people who hear the gospel message and are welcomed to join us afterwards with mulled wine and mince pies.
Financial Review and Reserves Policy
The charity’s principal source of funding is from the regular giving of church members and where applicable the corresponding gift aid. Currently the church finances are healthy, a full and detailed financial report is attached.
At the end of the year 2023 the Charity had £44,658 available in cash funds, £106,956 less than in the prior year due to the purchase of Manse property in this financial year. The Net assets are in the value of £207,849, in gain by £20,525 compared to 2022.
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INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS
Report to the trustees/members of Hayling Island Baptist Church on the accounts for the year ended 31st December 2023 set out on pages 8 to 16.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
The charity's trustees consider that an audit is not required for this year (under section 144 (2) of the Charities Act 2011) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts (under section 145 of the 2011 Act),
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to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act), and
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to state whether particular matters have come to my attention.
BASIS OF INDEPENDENT EXAMINER'S STATEMENT
My examination was carried out in accordance with General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the organisation and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
INDEPENDENT EXAMINER'S STATEMENT
In the course of my examination, no matter has come to my attention
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which gives me reasonable cause to believe that in, any material respect, the trustees have not met the requirements to ensure that:
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proper accounting records are kept (in accordance with section 130 of the Act); and
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accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Act; or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Zita Derbak MAAT AATQB Sign: Independent Examiners Ltd Unit 2, The Broadbridge Business Centre Delling Lane Date: 25.10.2024 Bosham PO18 8NF
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Hayling Island Baptist Church
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
| Notes INCOMING RESOURCES Income and Endowments from: Donations and Legacies 2a Charitable Activities 2b Investments 2c Other 2d TOTAL RESOURCES EXPENDED Expenditure on: Charitable Activities 3a Other 3b TOTAL NET INCOME/(EXPENDITURE) BEFORE INVESTMENT GAINS/(LOSSES) NET INCOME/(EXPENDITURE) Transfers between funds NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total Funds Brought Forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2023 2022 £ £ £ £ 44,473 1,000 45,473 106,302 - 24,471 24,471 17,277 31 - 31 891 - - - - 44,504 25,471 69,975 124,470 1,398 - 1,398 615 27,501 20,473 47,974 14,222 28,899 20,473 49,372 14,837 15,605 4,998 20,603 109,633 15,605 4,998 20,603 109,633 75,583 -75,583 - - 91,188 -70,585 20,603 109,633 102,661 84,663 187,324 77,691 193,849 14,078 207,927 187,324 |
|---|---|
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 9 to 16 form part of these financial statements.
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| Unrestricted | Restricted | 31-Dec-23 | 31-Dec-22 | ||
|---|---|---|---|---|---|
| Funds | Funds | Total | Total | ||
| Note | € | ||||
| Fixed Assets | |||||
| Tangible assets | 7 | 132,344 | 132,344 | ||
| Current Assets | |||||
| Stocks | |||||
| Debtors Cash at bank and in hand Total Current Assets |
8 9,1 |
37,207 30,580 67,787 |
14,078 14,078 |
37,207 44,658 81,865 |
41,120 151,614 192,734. |
| Creditors:amounts falling due within oneyear | 10 | -6,282 | -6,282 | -5,410 | |
| NET CURRENT ASSETS | 61,505 | 14,078 | 75,583 | 187,324 | |
| TOTAL ASSETS less current liabilities | 193,849 | 14,078 | 207,927 | 187,324 | |
| Creditors:amounts falling due in morethan | |||||
| one year | |||||
| NET ASSETS | 193,849 | 14,078 | 207,927 | 187,324 | |
| Funds of the Charity | |||||
| General Funds Restricted Funds |
끄 | 193,849 | 14,078 | 193,849 14,078 |
102,661 84,663 |
| Total Funds | 193,849 | 14,078 | 207,927 | 187,324 |
Hayling Island Baptist Church NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
Basis of preparation:
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.
The charity constitutes a public benefit entity as defined by FRS 102.
Changes to accounting estimates
No changes to accounting estimates have occurred in the reporting period.
Material prior period errors
No material prior year error have been identified in the reporting period.
1. ACCOUNTING POLICIES
The particular accounting policies adopted are set out below.
INCOME
Recognition of Income
These are included in the Statement of Financial Activities (SOFA) when:
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the charity becomes entitled to the income;
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it is more likely than not that the trustees will receive the resources; and
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the monetary value can be measured with sufficient reliability.
Offsetting
There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.
Grants and Donations
Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 SORP).
Tax Reclaims on Donations and Gifts
Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.
Contractual Income and Performance Related Grants
This is only included in the SoFA once the charity has provided the related goods or services or met the performance related conditions.
Gifts in Kind
Gifts in kind for use by the charity are included in the SoFA as income from donations when receivable.
Legacies
Legacies are included in the SOFA when receipt is probable, that is, when there has been grant of probate, the executors have established that there are sufficient assets in the estate and any conditions attached to the legacy are either within the control of the charity or have been met.
Donated goods
Donated goods are measured at fair value (the amount for which the asset could be exchanged) unless impractical to do so.
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Hayling Island Baptist Church
NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 DECEMBER 2023
Donated goods (continued)
The cost of any stock of goods donated for distribution to beneficiaries is deemed to be the fair value of those gifts at the time of their receipt and they are recognised on receipt. In the reporting period in which the stocks are distributed, they are recognised as an expense at the carrying amount of the stocks at distribution.
Donated goods for resale are measured at fair value on initial recognition, which is the expected proceeds from sale less the expected costs of sale, and recognised in 'Income from other trading activities' with the corresponding stock recognised in the balance sheet. On its sale the value of stock is charged against 'Income from other trading activities' and the proceeds from sale are also recognised as 'Income from other trading activities'.
Goods donated for on-going use by the charity are recognised as tangible fixed assets and included in the SoFA as incoming resources when receivable.
Donated Services and Facilities
Donated services and facilities are included in the SOFA when received at the value of the gift to the charity provided the value of the gift can be measured reliably.
Donated services and facilities that are consumed immediately are recognised as income with an equivalent amount recognised as an expense under the appropriate heading in the SOFA.
Volunteer Help
The value of any voluntary help received is not included in the accounts but is described in the Directors' annual report.
Income from interest, royalties and dividends
This is included in the accounts when receipt is probable and the amount receivable can be measured reliably.
Investment Gains and Losses
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
Insurance claims
Insurance claims are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 SORP) and are included as an item of other income in the SoFA.
Income from membership subscriptions
Membership subscriptions received in the nature of a gift are recognised in Donations and Legacies.
Membership subscriptions which gives a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities.
Expenditure and liabilities
The charity has opted to prepare its accounts using natural categories.
Liability Recognition
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
Governance and Support Costs
Support costs represent the cost of central functions, for example governance costs, payroll administration, information technology. Governance costs are those support costs which relate to public accountability of the charity and its compliance with regulation and good practice.
Grants with Performance Conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
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Hayling Island Baptist Church
NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 DECEMBER 2023
Grants Payable without Performance Conditions
Where there are no conditions attaching to the grant that enables the donor charity to realistically avoid the commitment, a liability for the full funding obligation must be recognised.
Employee benefits
Short term benefits including holiday pay are recognised as an expense in the period in which the service is received.
Redundancy cost
The charity made no redundancy payments during the reporting period.
Deferred income
No material item of deferred income has been included in the accounts.
Creditors
The charity has creditors which are measured at settlement amounts less any trade discounts.
Provisions for liabilities
A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date
Fixed Assets
Fixed assets are recognised when it is probable that future economic benefits will flow to the charity, and the cost of the asset can be measured reliably. The cost of a fixed asset includes its purchase price and any directly attributable costs of bringing the asset to working condition for its intended use. Fixed assets are only capitalised if the cost of the individual asset exceeds £2,000. Any purchase of an asset with a value of £2,000 or less will be treated as an expense in the financial year of purchase and will not be capitalised.
Depreciation Expense
Capitalised fixed assets will be depreciated over their useful economic lives, commencing from the date the asset is available for use. The charity will use a straight-line method for depreciation unless another method is deemed more appropriate for the specific asset. Depreciation rates will be reviewed periodically to ensure they remain appropriate.
Impairment
The charity will review the carrying value of its fixed assets annually to determine whether there is any indication of impairment. If an asset's carrying value exceeds its recoverable amount, an impairment loss will be recognised.
Disposal of assets
When a fixed asset is disposed of, the cost and accumulated depreciation will be removed from the balance sheet. Any gain or loss on disposal will be recognised in the Statement of Financial Activities.
Debtors
Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.
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Hayling Island Baptist Church NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 DECEMBER 2023
| Unrestricted | Restricted | TOTAL | TOTAL | ||
|---|---|---|---|---|---|
| 2. ANALYSIS OF INCOME | Funds | Funds | 2023 | 2022 | |
| £ | £ | £ | £ | ||
| a) Donations and Legacies | |||||
| Donations received - Regular | 11 | 26,600 | - | 26,600 | 24,353 |
| Donations received - Collections/Offering | 7,912 | - | 7,912 | 6,025 | |
| Gift Aid | 9,961 | - | 9,961 | 22,029 | |
| Gifts - Other | - | 1,000 | 1,000 | 53,895 | |
| 44,473 | 1,000 | 45,473 | 106,302 | ||
| b) Charitable Activities | |||||
| Hayling Holiday Lunches | 11 | - | 24,471 | 24,471 | 17,277 |
| - | 24,471 | 24,471 | 17,277 | ||
| c) Investments | |||||
| Interest received | 31 | - | 31 | 891 | |
| 31 | - | 31 | 891 | ||
| d) Other Income | |||||
| Other income | - | - | - | - | |
| - | - | - | - | ||
| 3. ANALYSIS OF EXPENDITURE | Unrestricted | Restricted | TOTAL | TOTAL | |
| Notes | Funds £ |
Funds £ |
2023 £ |
2022 £ |
|
| a) Charitable Activities | |||||
| Minister's Stipend Cost | 4 | 495 | - | 495 | 500 |
| Community Activities | 478 | - | 478 | 115 | |
| Speaker Fees and Expenses | 425 | - | 425 | - | |
| 1,398 | - | 1,398 | 615 | ||
| b) Other | |||||
| Rent - Church | 5,414 | - | 5,414 | 4,098 | |
| Rent - Manse | 1,350 | - | 1,350 | - | |
| Rates and Ground Rent - Manse | 1,592 | - | 1,592 | - | |
| Light, Power, Heating | 1,506 | - | 1,506 | - | |
| Repairs & Maintenance | 2,018 | - | 2,018 | - | |
| Travel costs | 34 | - | 34 | - | |
| Printing, Postage, Stationery | 427 | - | 427 | 259 | |
| IT Software and Consumable | 1,670 | - | 1,670 | 752 | |
| Telephone & Mobile & Internet | 406 | - | 406 | 124 | |
| Equipment & repairs | 3,082 | - | 3,082 | 824 | |
| Legal & Professional fees | 1,780 | - | 1,780 | 1,239 | |
| Insurance | 303 | - | 303 | 276 | |
| Pension Deficit Cost | 5 | - | - | - | -13,952 |
| Training | 20 | - | 20 | 120 | |
| Charitable donations | 4,890 | - | 4,890 | 3,625 | |
| General expenses | 2,220 | - | 2,220 | 456 | |
| Subscriptions | 225 | - | 225 | 974 | |
| Pension cost | 132 | - | 132 | - | |
| Website cost | 432 | 432 | 618 | ||
| Hayling Holiday Lunches | 12 | - | 20,473 | 20,473 | 14,809 |
| 27,501 | 20,473 | 47,974 | 14,222 |
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Hayling Island Baptist Church NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 DECEMBER 2023
| 4. STAFF COSTS AND NUMBERS Gross Wages Employer's National Insurance Costs Pension Contributions |
2023 2022 £ £ 495 500 - - - - 495 500 |
|---|---|
No employee received emoluments in excess of £60,000 for the period.
| Charitable Activities Employees were engaged in the following activities: |
2023 2022 TOTAL TOTAL 1 1 1 1 |
|---|---|
5. DEFINED CONTRIBUTION PENSION SCHEME AND DEFINED BENEFIT PENSION PLAN
Defined Contribution Pension Scheme
Amount of contributions recognised in the SOFA as an expense in 2023 was £132. (2022: £2,359) All of those relate to the minister's remuneration and are therefore recognised in the general fund under charitable activities.
Defined Benefit Pension Plan
In 2023 no transaction took place in relation to Baptist Unions defined benefit pension plan. In previous years the charity was enrolled in the Baptist Unions defined benefit pension scheme which is a multi company pension scheme and was in deficit. The proportion of the deficit which is apportioned to Hayling Island Baptist Church was totalling to £13,952, was written back in the year 2022 leaving a year end balance of £0. (2021: £16,300)
6. TRUSTEES AND OTHER RELATED PARTIES
Rev R Elingham trustee was paid £495 for his additional role as a minister of the church in this financial year. (2022:Nil)
The Charity paid £1,350 to Mr Grey (trustee) and Mrs Grey (spouse of Mr Grey) for renting their Air B&B to the church ministers before their move to the newly purchased Manse property in February 2023. Visiting speaker, son of Mr Worrall, trustee, received £425 gift for his services. No other transactions took place between trustees and related parties in the financial year. (2022: Nil)
In this period the charity paid four trustees a total of £1900 to reimburse them for their out-of-pocket expenses in relation to resources, teaching material, equipment, subscription costs, travel costs in their roles or in their minister role. (2022: three trustees : £648).
| 7. TANGIBLE FIXED ASSETS Manse Property Cost 01-Jan-23 Additions Cost at 31-Dec-23 Depreciation 01-Jan-23 Charge Depreciation at 31-Dec-23 Net Book Value 31-Dec-23 Net Book Value 31-Dec-22 |
Unrestricted Restricted Total £ £ £ - - - 132,344 - 132,344 132,344 - 132,344 - - - - - - - - - 132,344 - 132,344 - - - |
|---|---|
The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31st December 2023 : None
31st December 2022: None
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Hayling Island Baptist Church NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 DECEMBER 2023
| 8. DEBTORS AND PREPAYMENTS Other Debtors Gift Aid 9. CASH AT BANK AND IN HAND Current Account Deposit Account Independent Examiners Fees (2017-2023 accounts) Payroll Accrual 11. RESTRICTED FUNDS CURRENT REPORTING PERIOD Manse Deposit Hayling Holiday Lunches PREVIOUS REPORTING PERIOD Manse Deposit Hayling Holiday Lunches 10. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Notes Unrestricted Restricted Total Total Fund Fund 31-Dec-23 31-Dec-22 £ £ £ £ 1,125 - 1,125 1,142 36,082 - 36,082 39,978 37,207 - 37,207 41,120 Unrestricted Restricted Total Total Fund Fund 31-Dec-23 31-Dec-22 £ £ £ £ 29,223 14,078 43,301 150,288 1,357 - 1,357 1,326 30,580 14,078 44,658 151,614 Unrestricted Restricted Total Total Fund Fund 31-Dec-23 31-Dec-22 £ £ £ £ 6,282 - 6,282 5,352 - - - 58 6,282 - 6,282 5,410 Balance Balance 01-Jan-23 Income Expenditure Transfers 31-Dec-23 £ £ £ £ £ 74,583 1,000 -75,583 - - 10,080 24,471 -20,473 - 14,078 84,663 25,471 -96,056 - 14,078 Balance Balance 01-Jan-22 Income Expenditure Transfers 31-Dec-22 £ £ £ £ £ 21,383 53,200 - - 74,583 7,612 17,277 -14,809 - 10,080 28,995 70,477 -14,809 - 84,663 |
|---|---|
Manse Deposit is restricted amount for the purchase of manse property. The purchase of manse property took place in February 2023 and by fulfilling the purpose these donations were given for, the restricted fund contribution has been capitalised and the value, therefore, transferred to unrestricted fund upon obtaining ownership of the manse property - see Statement of Financial Activities, page 8.
Hayling Holiday Lunches was set up to provide weekly food supplies to local families during school holidays whose children would normally receive free school meals.
The restricted funds are wholly represented by cash reserves of the charity.
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Hayling Island Baptist Church NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 DECEMBER 2023
12. RISK ASSESSMENT
The trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
13. RESERVES POLICY
The trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The trustees aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The trustees will endeavour not to set aside funds unnecessarily.
14. PUBLIC BENEFIT
The charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Trustees report. The trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.
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