Zion United Church Frampton Cotterell
End of Year Financial Statements
Year ending 31 December 2022
Page 1
Introduction
The following statements represent the account and summary financial position of Zion United Church as at 31[st] December 2022. They are derived from data held on the Data Developments Finance Management Tool. Full records have been provided to support Independent Examination of these accounts .
Statement of Financial Activities
| Unrestricted Restricted Endowment Total Prior year funds funds funds funds total funds |
|
|---|---|
| Income and endowments from: Donations and legacies Income from charitable activities Other trading activities Investments Other income Total income Expenditure on: Expenditure on charitable activities Other expenditure Total expenditure Gains / losses on investment assets Net income / (expenditure) resources before transfer Transfers Gross transfers between funds - in Gross transfers between funds - out Other recognised gains / losses Gains on revaluation, fixed assets, charity's own use Net movement in funds Total funds brought forward Total funds carried forward Represented by Unrestricted General fund Designated Premises Restricted Agency collection Children & Youth Community Pioneer Food Hub Monday Fellowship Group Together for Fromeside Weekend away 'Hill House' Zion Beacon Project |
108,175 27,077 — 135,253 142,542 10,626 3,923 — 14,550 7,260 25 — — 25 178 — — — — — 4,159 8,829 — 12,989 2,429 |
| 122,987 39,831 — 162,818 152,412 87,229 39,342 — 126,571 146,661 1,560 280 — 1,840 — |
|
| 88,790 39,622 — 128,412 146,661 — — — — — |
|
| 34,196 209 — 34,405 5,750 — — — — 32,220 — — — — (32,220) — — — — — |
|
| 34,196 209 — 34,405 5,750 |
|
| 59,138 32,132 — 91,271 85,521 |
|
| 93,335 32,341 — 125,677 91,271 90,538 — — 90,538 49,978 2,797 — — 2,797 9,160 — — — — — — 2,312 — 2,312 2,102 — 21,148 — 21,148 27,946 — 5,538 — 5,538 — — 1,510 — 1,510 — — 409 — 409 1,568 — 1,421 — 1,421 514 — — — — — |
Page 2
Balance sheet
| Class and code **Description ** |
This year **Last year ** |
|---|---|
| Current assets 6501 NatWest current account 6502 Cash in hand 6503 CFB deposit account Z05 Accounts Receivable Debtors & Prepaymens Total Current assets Liabilities 6699 Agency collections Z04 Accounts Payable Total Liabilities Net Asset surplus(deficit) Reserves Excess / (deficit) to date Z01 Starting balances Total Reserves Represented by funds Unrestricted Designated Restricted Endowment Total |
106,588 72,182 — — 19,178 19,178 — — |
| 125,766 91,360 89 89 — — |
|
| 89 89 |
|
| 125,677 91,271 |
|
| 34,405 5,750 91,271 85,521 |
|
| 125,677 91,271 90,538 49,978 2,797 9,160 32,341 32,132 — — |
|
| 125,677 91,271 |
Statement of assets and liabilities
| General Designated Restricted Endowment This year **Last year ** |
|
|---|---|
| Current assets - Cash at bank and in hand NatWest current account - CFB deposit account - Totals Liabilities - Agency accounts Agency collections - Totals Grand total |
78,579 (4,422) 32,431 — 106,588 72,182 11,958 7,220 — — 19,178 19,178 |
| 90,538 2,797 32,431 — 125,766 91,360 — — 89 — 89 89 |
|
| — — 89 — 89 89 |
|
| 90,538 2,797 32,341 — 125,677 91,271 |
Fund movement by type
| Opening Incoming Outgoing Transfers Gains/losses JournalsClosing | |
|---|---|
| ComP - Community Pioneer Restricted Sub-total for ComP FHB - Food Hub Restricted Sub-total for FHB MFG - Monday Fellowship Gr Restricted Sub-total for MFG |
27,946 18,933 25,732 — — — 21,148 |
| 27,946 18,933 25,732 — — — 21,148 — 7,038 1,500 — — — 5,538 |
|
| — 7,038 1,500 — — — 5,538 — 1,790 280 — — — 1,510 |
|
| — 1,790 280 — — — 1,510 |
Page 3
| T4F - Together for Fromesi Restricted Sub-total for T4F General - General fund Unrestricted Sub-total for General Premises - Premises Designated Sub-total for Premises HillHouse - Weekend away 'Hill H Restricted Sub-total for HillHouse ChildYouth - Children & Youth Restricted Sub-total for ChildYouth Beacon - Zion Beacon Project Restricted Sub-total for Beacon Grand total |
1,568 4,711 5,870 — — — 409 |
|---|---|
| 1,568 4,711 5,870 — — — 409 49,978 122,987 82,427 — — — 90,538 |
|
| 49,978 122,987 82,427 — — — 90,538 9,160 — 6,362 — — — 2,797 |
|
| 9,160 — 6,362 — — — 2,797 514 6,379 5,472 — — — 1,421 |
|
| 514 6,379 5,472 — — — 1,421 2,102 977 766 — — — 2,312 |
|
| 2,102 977 766 — — — 2,312 — — — — — — — |
|
| — — — — — — — |
|
| 91,271 162,818 128,412 — — — 125,677 |
Page 4
Analysis of income and expenditure
| Total Unrestricted Designated Restricted Endowment This year Last year INCOME AND ENDOWMENTS Donations and legacies 0110 - Offertory (via Bank) 87,248 — — — 87,248 87,081 0112 - Offertory 2,589 — — — 2,589 4,819 1101 - Gift Aid on Offertories 15,776 — — — 15,776 15,552 1102 - Sundry Donations 1,468 — — — 1,468 4,698 1104 - Bequests 500 — — — 500 2,000 1105 - Together for Fromeside (T4F) — — 4,711 — 4,711 8,507 1106 - Appeals and Collections for Other Orgs 593 — — — 593 — 1400 - Donations - Youth & Children — — 977 — 977 685 1602 - Hill House Gifts — — 2,456 — 2,456 — 1800 - ComP - Grants — — 16,113 — 16,113 16,298 1801 - ComP - Donations — — 2,820 — 2,820 2,900 Total 108,175 — 27,077 — 135,253 142,542 Income from charitable activities 1201 - Hall Hire 9,908 — — — 9,908 7,051 1204 - Sanctuary and Chapel Hire 151 — — — 151 151 1205 - Beacon Hire 567 — — — 567 57 1601 - 'Hill House' — — 3,923 — 3,923 — Total 10,626 — 3,923 — 14,550 7,260 Other trading activities 1202 - Hall one off lettings 25 — — — 25 178 Total 25 — — — 25 178 Investments 1103 - Bank Interest CFB — — — — — — Total — — — — — — Other income 1302 - Steven Newell - Leaving Collection 1,560 — — — 1,560 — 1503 - Solar Panel Income 2,599 — — — 2,599 2,429 1900 - Monday Fellowship Group — — 1,790 — 1,790 — 2500 - Food Hub — — 7,038 — 7,038 — Total 4,159 — 8,829 — 12,989 2,429 |
Total Unrestricted Designated Restricted Endowment This year Last year INCOME AND ENDOWMENTS Donations and legacies 0110 - Offertory (via Bank) 87,248 — — — 87,248 87,081 0112 - Offertory 2,589 — — — 2,589 4,819 1101 - Gift Aid on Offertories 15,776 — — — 15,776 15,552 1102 - Sundry Donations 1,468 — — — 1,468 4,698 1104 - Bequests 500 — — — 500 2,000 1105 - Together for Fromeside (T4F) — — 4,711 — 4,711 8,507 1106 - Appeals and Collections for Other Orgs 593 — — — 593 — 1400 - Donations - Youth & Children — — 977 — 977 685 1602 - Hill House Gifts — — 2,456 — 2,456 — 1800 - ComP - Grants — — 16,113 — 16,113 16,298 1801 - ComP - Donations — — 2,820 — 2,820 2,900 Total 108,175 — 27,077 — 135,253 142,542 Income from charitable activities 1201 - Hall Hire 9,908 — — — 9,908 7,051 1204 - Sanctuary and Chapel Hire 151 — — — 151 151 1205 - Beacon Hire 567 — — — 567 57 1601 - 'Hill House' — — 3,923 — 3,923 — Total 10,626 — 3,923 — 14,550 7,260 Other trading activities 1202 - Hall one off lettings 25 — — — 25 178 Total 25 — — — 25 178 Investments 1103 - Bank Interest CFB — — — — — — Total — — — — — — Other income 1302 - Steven Newell - Leaving Collection 1,560 — — — 1,560 — 1503 - Solar Panel Income 2,599 — — — 2,599 2,429 1900 - Monday Fellowship Group — — 1,790 — 1,790 — 2500 - Food Hub — — 7,038 — 7,038 — Total 4,159 — 8,829 — 12,989 2,429 |
|---|---|
| 108,175 — 27,077 — 135,253 142,542 9,908 — — — 9,908 7,051 151 — — — 151 151 567 — — — 567 57 — — 3,923 — 3,923 — |
|
| 10,626 — 3,923 — 14,550 7,260 25 — — — 25 178 |
|
| 25 — — — 25 178 — — — — — — |
|
| — — — — — — 1,560 — — — 1,560 — 2,599 — — — 2,599 2,429 — — 1,790 — 1,790 — — — 7,038 — 7,038 — |
|
| 4,159 — 8,829 — 12,989 2,429 |
|
| INCOME TOTAL | 122,987 — 39,831 — 162,818 152,412 |
Page 5
EXPENDITURE
| Expenditure on charitable activities 2201 - Annual Assessment Methodist 22,932 — — — 22,932 22,932 2202 - Annual Assessment URC 16,603 — — — 16,603 44,106 2302 - Church Insurance 5,679 — — — 5,679 5,984 2401 - Church running expenses 4,012 — — — 4,012 4,922 2402 - Church Gas 2,250 — — — 2,250 952 2403 - Church Electricity 677 — — — 677 595 2404 - Telephone & broadband costs 687 — — — 687 412 2405 - Office Administrator 6,219 — — — 6,219 4,435 2406 - Church Water 313 — — — 313 313 2407 - Church Cleaning Services 1,574 — — — 1,574 651 2408 - Visiting Speakers 300 — — — 300 122 2411 - Minister's Expenses 444 — — — 444 1,411 2501 - Hall expenses 27 — — — 27 147 2502 - Hall Gas 2,510 — — — 2,510 1,809 2503 - Hall Electricity 1,339 — — — 1,339 1,133 2504 - Hall Cleaning Services — — — — — — 2505 - Hall Water 161 — — — 161 170 2506 - Hall Insurance — — — — — 413 2601 - Junior Church 285 — — — 285 737 2602 - Youth & Children — — 766 — 766 332 2701 - Evangelism & Outreach 776 — — — 776 557 2702 - ConnectZ — — — — — — 2750 - Food Hub — — 1,500 — 1,500 — 2802 - Training — — — — — 87 2803 - World Mission Group 10,500 — — — 10,500 11,400 2804 - Minister's Discretionary expenses — — — — — — 2810 - Gifts — — — — — 3,193 2811 - Donations - Appeals and Collections 1,899 — — — 1,899 — 2901 - Bank charges 491 — — — 491 427 3001 - Church Property — 5,031 — — 5,031 7,824 3002 - Hall Property — 1,331 — — 1,331 1,948 3010 - Audio / Visual 1,181 — — — 1,181 — 4001 - 'Hill House' — — 5,472 — 5,472 300 4200 - Social Events — — — — — — 4500 - Commmunity Pioneers – Salary — — 22,503 — 22,503 20,722 4501 - ComP - Expenditure — — 3,218 — 3,218 1,154 4502 - ComP - Expenses — — 9 — 9 522 5000 - Together for Fromeside — — 5,870 — 5,870 6,938 Total 80,867 6,362 39,342 — 126,571 146,661 Other expenditure 2812 - Stephen Newell - Leaving Gift 1,560 — — — 1,560 — 2950 - Monday Fellowship Group — — 280 — 280 — Total 1,560 — 280 — 1,840 — |
Expenditure on charitable activities 2201 - Annual Assessment Methodist 22,932 — — — 22,932 22,932 2202 - Annual Assessment URC 16,603 — — — 16,603 44,106 2302 - Church Insurance 5,679 — — — 5,679 5,984 2401 - Church running expenses 4,012 — — — 4,012 4,922 2402 - Church Gas 2,250 — — — 2,250 952 2403 - Church Electricity 677 — — — 677 595 2404 - Telephone & broadband costs 687 — — — 687 412 2405 - Office Administrator 6,219 — — — 6,219 4,435 2406 - Church Water 313 — — — 313 313 2407 - Church Cleaning Services 1,574 — — — 1,574 651 2408 - Visiting Speakers 300 — — — 300 122 2411 - Minister's Expenses 444 — — — 444 1,411 2501 - Hall expenses 27 — — — 27 147 2502 - Hall Gas 2,510 — — — 2,510 1,809 2503 - Hall Electricity 1,339 — — — 1,339 1,133 2504 - Hall Cleaning Services — — — — — — 2505 - Hall Water 161 — — — 161 170 2506 - Hall Insurance — — — — — 413 2601 - Junior Church 285 — — — 285 737 2602 - Youth & Children — — 766 — 766 332 2701 - Evangelism & Outreach 776 — — — 776 557 2702 - ConnectZ — — — — — — 2750 - Food Hub — — 1,500 — 1,500 — 2802 - Training — — — — — 87 2803 - World Mission Group 10,500 — — — 10,500 11,400 2804 - Minister's Discretionary expenses — — — — — — 2810 - Gifts — — — — — 3,193 2811 - Donations - Appeals and Collections 1,899 — — — 1,899 — 2901 - Bank charges 491 — — — 491 427 3001 - Church Property — 5,031 — — 5,031 7,824 3002 - Hall Property — 1,331 — — 1,331 1,948 3010 - Audio / Visual 1,181 — — — 1,181 — 4001 - 'Hill House' — — 5,472 — 5,472 300 4200 - Social Events — — — — — — 4500 - Commmunity Pioneers – Salary — — 22,503 — 22,503 20,722 4501 - ComP - Expenditure — — 3,218 — 3,218 1,154 4502 - ComP - Expenses — — 9 — 9 522 5000 - Together for Fromeside — — 5,870 — 5,870 6,938 Total 80,867 6,362 39,342 — 126,571 146,661 Other expenditure 2812 - Stephen Newell - Leaving Gift 1,560 — — — 1,560 — 2950 - Monday Fellowship Group — — 280 — 280 — Total 1,560 — 280 — 1,840 — |
|---|---|
| 80,867 6,362 39,342 — 126,571 146,661 1,560 — — — 1,560 — — — 280 — 280 — |
|
| 1,560 — 280 — 1,840 — |
|
| EXPENDITURE TOTAL | 82,427 6,362 39,622 — 128,412 146,661 |
| GRAND TOTAL | 40,559 (6,362) 209 — 34,405 5,750 |
Page 6
Conclusion
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Over the course of the year, income exceed expenditure by £34405. While the key factor behind this has been the ministerial interregnum, there are a number of other factors in play.
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The overall monies coming into the church has increased by £10406 compared to 2021. However, this includes income associated with a number of collections including Food Hub, Hill House, Together for Fromeside and Steven Newell’s leaving collection. Additionally, this also includes transfer of funds from Monday Fellowship Group and payments for Hill House.
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The main source of church income remains personal giving. Whilst this is a reduction of £2063 compared to 2021, there has been additional giving to the church to the tune of £7038 to establish the Food Hub; a project set up by the community pioneers to support local families in need.
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Income from renting out the hall and Beacon is now back to near pro-covid levels. The Pre-school, associated guiding groups, dance groups and singing groups are all now back using the facilities on a regular basis with income increasing by £3214.
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The level of sundry donations has reduced as it no longer incudes the gift from Mangotsfield URC that was regularly provided as a ‘thank you’ for the services of Steven Newell.
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2022 also saw the church run the ‘Hill House’ weekend for the first time since 2019. To support members of the wider church community who wished to attend, a bursary fund was established. This raised £2456 of £1421 remains available to support future events.
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The Income/Expenditure account also includes a couple of extra-ordinary items that need to be acknowledged:
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Firstly Zion acts as ‘host account’ for a ‘Just Giving’ portal to support Together For Fromeside through their Comfort and Joy Appeals. The expenditure is higher than the income as it includes funds collected in 2021, but paid out in 2022. Additionally, Zion pays £216 per year to enable the Just Giving page to function.
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Secondly, the Monday Fellowship Group have transferred their funds into the main Zion Bank Account. This has uplifted income by £1790, but is held in a separate ‘Restricted’ Fund.
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Also shown as income (and netted off as expenditure) is the £1560 raised for Steven Newell’s leaving collection.
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Finally, the church continued to benefit from c£16k grant support for the community pioneers. This is due to wind down this year and the remaining period of CP funding will be draw down from the balance of the CP restricted fund.
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Although overall church expenditure was reduced by £18249, this was largely as result of the cost reduction arising from Steven Newell’s departure. Church finances will continue to benefit from this until Sharon commences her ministry with Zion in September 23 when we see a significant rise in the Methodist Assessment costs.
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Like most organisations, the cost of energy has had an impact on Zion finances, with costs of electricity and gas for the Church and Hall increasing by £2087. As the church currently ‘enjoys’ fixed price energy contracts, I am hopeful these costs will continue to stabilise throughout this year.
Page 7
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Looking forward, most members will be aware that there have been a number of members of the congregation who have recently passed away. Sadly, these will have an impact on church income over the coming and future years.
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Overall, while the finances of the church remain in a healthy state, it is likely that increasing cost pressures and reduced levels of income will require continued good stewardship in the future if this position is to be maintained
This report dated: 12th February 2022
Zion Church Treasurer
Report to the members of Zion United Church for the year ended 31[st ] December 2022 report to the members on my examination of the accounts set out on pages to 6.
The Elders act as Trustees and are responsible for the preparation of the accounts.
I report in respect of my examination of the accounts carried out under section 145 of the Charites Act 201 1 ("the Act") and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 1 45(5) (b) of the Act.
have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
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accounting records were not kept in accordance with section 130 of the Act or
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the accounts do not accord with the accounting records
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
A K Green — Independent Chartered Accountant
Page 8