REVISED ACCOLINTS REGISTERED COMPAYV NUMBER: 117780681 {Englgnd and Wales) REGISTERED CHARITY NLMBER: 1147429 Reporl fyfthe Trustees *nd Unaudiied Finantixl StAtements ftsr ¢he l'ear Ended 31 Iktember 2022 The St Nicholas Colt Abbe), Ctntre for Workplgce Ministry Limiied Garside and Co. Limit¢d Suite 631, Linen Ho11 162-168 Regent Streei Ix>ndon WIB 5TG The St Nicholas Cole Abbey Centre for Workplace Mini￿ry Limited Contents ofthe Fin¥n¢ial Stxtements for the Year Ended 31 December 2022 P*ge Reference 2nd Administrative Detai Report of ihe Trnstees Independetit Examiner'5 Report Statemerjt of Fin*neig1 Activities Balance Sheet Cash Flow Statement Notes to the Cash Flow St*ternent Notes to the FinaDcial Statements 10 to 18 Detailed Statemetht of Financial Aclivities 19 to 20 The St Nicholas Cole Abbey CtNtrt for Workplace Nlinistry Limited Re(ereNce and AdThinistrative Det3115 for the Y￿r Ended JI Dect￿ber ZOZZ TRUSTEES C D Fishlock (resigned I1.10.20231 RPTett TJCEvan5 ANMWales T C W Wright (resigned I1.10.20231 T Owu5u.S¢kyere COMPANY SECRETARY S G Burden REGisfERED OFFICE 114 Queen Vicioria Street ndon EC4V 4BJ REGISTERED COMPAliY NUMBER 07780681 (England and Wales) REGISTEREDCHARITY ,NUMBER 1147429 INDEPENDEP4T EXAMINER Gatside and Co. Lirnited Suit¢ 631. Linen Hall 162-168 Regeni Street London WIB 5TG BANKERS Reliance Ballk Limikd Faith House 23-24 Lovat Lane London ECJR 8EB Page I The St Nichola_% Cole Abbey Centre for WoTkplatt Ministrv Limited {Regi$tered Dumber: 07780681) Rewrt of the Trustees for the Year Ended 3J December 21122 The Irusiees of The St Nicholas Cole Abbe> Centre for Workplacc Ministry Ljmited (SNCAI. who sre also directors of the charity for the puryjoses of the c.ompanies Act 2006, present their report with the financial ststements of the Chariiy for the year ended 31 December 2022. The Trustees have adopied the provisions of ihe Staiement of Recommended Practice ISORP} 'Accouniing and Reporting by Charitits= Ststement of Rtcotnmended Practice applicable to charities pr¢paT¢ng their accounts ith accordance wirh the Financial Reporting Stsndatd applicable in the UK and Republic of Ireland {FRS 1021,: {effe¢iive l January 20191. OIiJECTIVES AND AcfiviTIE5 Objectives The objecis of SNCA are to advance the Christian faith for the benefit of the public. through.. Ministry of an evangelisiic and teachin8 nalure to the local working community Supporting oth¢T similar ministhes by providing facilities for staff Providino facilities thai ¢rbable small group and one-w-one meeting& and oiher occasional events Ensuring thai our primary facility is fil for pu[￿Se Activities Durin8 th¢ fiThancial r¢view period, SNCA has conducted the followng prtncipal activifies= Provtsion of oversight to ihe fflinisiiies of Si Nick% Church (SNCI. Fleet Streei Talks IFSTI. London Bridge Talks ILB Tl, and S¢ Nick's Talks ISNT) and VtctorÉa Talk5 IVTI. Weekly lunchtime Bible thlks on Tuesdays, Wednesdays. and Thursd#y5. facilitated by LBT. FST. SNT and VT TeSP¢¢iively. • Weekly Sunday morning services njt) by SNC. • Weekly morning Bible studies for local Christian workers Tuesdays. Weekly 5rnall group Bible siudics on Wednesday evening5. T¢rtnly Wold fvlinisiry Training courses specifiully for p¢ople involved JTr SNC, thrtsugh which individuals are trained and ¢quipp¢d to understand the Bible better for th¢ms¢lv¢s and to teach It to other5 In a variety ofcontexts. Participation in Passion for Life. an evangelistic mission fortnight in laie Match with evertts In workplaces and churches across centrdl L4)ndon. oct￿lon81 evening evangelistic events aimcd at peoplc who ate Investigating the Christian faith_ Christianity Explored courses run ai variou5 points in the year for people io investigate the ChTiStian farth and the claims of Jesus. A significant numbeT of people partitipaiing in one-to-one Bible siudies and discipleship. Three weekends of Bible teaching. praver. and fellowship for people involved in SK andlor Wedoesday evening Small groups. Public benefit Thc trustees have considered the Charity Commissioners. Guidance ot) Public Benefii and, in parti¢ulaT. the specific guidance ort Charities for the Advancement of Religion and are satlsfied that the actÈviiies of SNCA fall within such guidance. ACHIEVEMENT AND PERFORMANCE The tTUStees consider thai the main achievement of SNTCA in the financial perid has been the public pn)clamation of the gospel through se¥vi¢es ¢ondu¢¢ed by the ministries of SNC, FST. LB T, SNT and VT & well as through Bible studies, tsne-twne ministry, and other events. FINAINCIAL REVIEW Financial p051tion In the financial year to 31 D¢c¢rnkr 2022, SN'CA'5 total incom¢ w&s £603,454 12021 £602.5691. The in¢ome comprised donations and gifts of £523.86812021 £531,405) and other 2CljVlties of £79.58] 12021 £71.164). SNCA'S tal expenditure in the Peri￿ Mas £619,91812021 £543,644}, resulting in a net defieit for the j'ear of £16.464 (2021 net surplus of £58,925). Total staff costs were £194.116 12021 £175,325), being 31°h of total expenditure (2021 Page 2 'rhc St,lichola5 Cole Abbei. CcTFtrc for 'orkpl•L't Ilinislrv LimTtLd (Rtgistefcd Q77806¥1) Rcport ol. Ihc Trustee5 for Ihc I'tthr IAdcd.11 Deetmber 2022 IN'.4NCIAI, REIIIEW R¢5cri'e5 A> al 31 F)eLeii'.ber 2012. SNCA Iidd ai i￿k and in harLd of L125.8(50 120?1 £181.IOlk reprtseiiitnts 2￿/0 IID21 13'/lll nf loial txpcndiiuTC. FUTURE DEI"ELOPNqEliTS Il'e ait pr￿1Yei-r￿IlV COTk*i(Icf71IV iiartTni a sccoHd Svnday congreg811on. in thc ¢N'ctTriiios, from Scpicmber ?11?4. We t1￿1￿.fUl tl)11 of alt￿}￿¢¢5 is ¥row"ing in ihc Inomiiimp4lniCS.4il 2(M)6. Incurp)raid 20 Sepietnber 2011. Truitee$ SNCA'¥ drti¢115 of aswialiott appoinis ihc ￿5¢l￿ 10 marwgc thc aftairs of SNC.4 an¢] 10 LILrLiSi all Ihc pom'its Of SNCA. In congiderinn rlie aP￿iD1men¥ ot. Ifu>[e￿ the ex1511ntt tfUs1ees MUQ ￿￿"t Ttgard its the *kills. kn(}￿led&7e. lid experience iieLYled for IbL LtT*iive admiiiisiiaiioii i)f SliCA. Every In￿leL. fflusl subF£iibc aiid adliLre ti? bilielaÈ)d Iitislvli lu ihi (IviifiiiLS ￿¢1 0111 In AniLli _l of Iht artlilis uf 7&siKÈaix>n. ThLY¢ arc no tortnal p￿￿edulEs for thi iTrJu¥tioD ol. Iiwi¢¥s. TTusi¢¢s 01¢ proyided ￿￿(h app[u￿￿le WI)e￿ requiTe￿ and llai'v reyrij Iv Iroinin rkncommLndLid b). Ihe C'hiirch ol-r.nsl.Ind. Trustee Nleetings 'the rr1151ee5 Intti ordinarily 14 Tirnes ii year lind on an ad li￿ basis u'hen rcquJY¢d. Trts%itt (heelin&55 M'ere chiiired by Ihe RL¥erciid chri￿ Fishlock. Minisicr in Lhar¥i tTrf SYCA ￿"hi].￿l w&s a InLqC¢. Th¢ iru51Ck* iakL aPPTI)priaic dcci£ioiis 011 Ihe op¢ratiaii ol- SX'CA. Thc trw£iiYS alw a&)pi p)Iithes li) eomply ￿1th Icoislation in tlic arc&E of hcJltli a￿] bafLty. Ihild piY)liLii(Trn. and LontliLls uf IniLYL*. D2y lo day tinantial rnallers are delegLqted hy ibe tru%iceq SX'CA'% tr￿gLifeT. Cireg Bri%L. and ir% finance nian3Lrcr. C1￿01￿n￿ FishlLKk.. Thc mLtsICiS twvL oi'ctsi¥hi of tiiiaiilial mattLYS. inLluding aPPTOV.'Il uf [T￿JOr itcnis uf cxpcnditLifL and lh¢ annual bi￿￿Tel. Day to d4v ministry n4Ners are d¢le8&ied io (he Reketend Chris Fi$hlotk. ￿1￿> reporL4 on rhose As nienrioned tn XoiL5 10 and 18 ot the aLt(Als)fs ir was di5cotr¢r¢d lh¥ vcar ind th81 p&ynLnis m.hiih had b¢cn niad¢ InJirriilTr Ivr Ihc bcD¢fii of Iivu il¢py%'. Ivlio iiere alsu ffttslees. and a relaied part>. lin Uiis and tarli¢r ycal￿) ver¢ not pemillLd by IhL compan!¥* rFo%LTnino diKuThcnl_ In Order io ieelTfy Ihis breach thfiht go%"•ning doruTnLni Ihc pcr?l)ns conccrned iiiinKdi4tcl! Tc%i?ncd trusicc%. A Scrious Incidcni Re￿[E filcd ii'itli ihc Ch3riry Coinniissioii vho liai'e 5incL confimied Ihai ihe) are saEisfial with (he acti￿5 ￿k￿n lo resoli'e the i85u¢ and that they ￿.711 be iaking iio furiher ￿¢￿TrOn. Risk Tliy Ii'kiste¢s d duiv lu id¢niiiV and tewiewrf th< nsLs io %khicb. Ihe charity is ¢xpo¥d 10 tnsure Jppropridle conirolq lire In pl11￿ 10 proN"Idk rc&g)nablL' a￿￿7￿¥￿et against tttud e￿Or. Safe2uar¢Jirt4v Flie tlU51e¢b li(il¢ Lonipli¢d u'sih The uns]er SeL-iior¢ 5 of the Safe¥wrding and cle￿ Discipline McasuFe 2016 in .laiion lo hai'in,. due Ttvtird io thL ofBishop's £llidaTrckn OTh S8feouardinq eliildrL"n 2nd iwln¢rabl¢ tsdulis. Appivv¢d by 01￿¢[ (Trf Ihc boai¢J of InJs1ees on l De￿nkn ?023 and signed on irs khalf by.. TTU.%iee Independent E%xmlner's Report io the Trusttcs of The St NÉchvl25 Cule C¥ntre lor .￿rk￿l￿(¥ Ilini8in LiNiiied (Xeui%iered 077811081) Ind¢p¢ndcnt examin¢r'5 report to Ihc tntstres of The St Nicholas Cole Abb¢v Ccntr¢ for Workpla¢t Nltnlsiri. Limited I'the Ci)mpani ) on Rtvised Financial I rewn 10 lh¢ Chuiity trus[￿YS on my clamination of thc rcyl￿d a¢¢ounri of th¢ Companv for ihi y&3r cDdc 11 DeieTnber 20?2. These revised f)nancial 5TaietntnlS Tcplacc un¥inal fiT￿￿lIa1 Siiiienients approvd by rhe . The revised Iinuncial %lJiin)eni% lill%e prepai￿ in aL¢•rJ&nir ￿'1(h The Conipanies i Rck"i%ioi) ot. Dclcetivc AccDunLS a￿1 RctM)nsl Rcgiilaiions ?tX)8 ￿ld accordinolv do noi take att<)unt of tvcnis i4'hicli havL lJkL'n pI￿L &t)IT ihi ddlc un ivhich IhL- L￿¥?￿&7 finarkial S¥UiimL*IIs WLYL al1PTVI'L￿_ RL%Pi)nslbilttie5 and bas4> (If report As the charitv'b ITUStccs of Iht CoEnpany (and also Jts dLrc¢iors fot purrrf>scs ol cottjpany lawl vou arc rc8ponsiblL for rhe prep&rlc lion of ihe aceounis in )LiordanLe wilh thc requiremenis of lh¢ C￿￿p1k)leS.￿ei 2(N)61'ihe 2(N)6 Aci'i. Having sati%fied my%tlf that the a¢touni8 of Company ate noi rtqrtirrd ii) audjtcd undLY Part 16 nf the ?(Xkn Act and ar¢ ￿li￿￿bIC fnr Ind¥Piiident ex8rninkiinn. l TqX)M in Els￿£1 nf inv Lx3Jninatiaii ofy(wr ¢harily'% attoiiftis tdrried uui iindLr SiLfiun 145 vl- Ihe ch￿Ille) I I'rhe ?01 l A¥l'l. In ￿rryIn￿￿ OUI Inv ex re4uir¢d bw S¢&l¥vn J86 ut'ihe 2CW ALI. or thc aiCOUnts do noi accord with Ehosc rccords.. or Ihc accnunts di) nni cnmplv ivith ihc accnuiiiin¥t requirement% Seciitsn 3Y6 of the l(Mlfy Act ttthcr than any rL4111Tkniini rh&i thi Ji¥ountS glVL a iruc fair vicw which is nvl J Indiicf u)llsidL'fid pdn of lin inde￿ndeR1 exaniinaiion- 01 Ihc accounL8 hai'¥ nol b(￿ry PlLpaTcd itTr accordatKc wilh Ihc mcihds aiid priiiciplis of lh¢ Si¥i¢niLIiL of Rccomnicndc(I PTJCriC¢ for aCkl)unii￿tt and rc[￿1￿<* bv chariiios lapplicahle tn ih3ritic5 PTcpariiin dicir dLiuunTS in aLivrdan¢i wilh th¢ FsnanLial Rcwrtin¥ Siarmlard oppliLablL in thc UK and R¢public uf IrLland IFRS 10211. I nu LOIiLLn15 Jiid havc ￿rUSS no oihcr tnatlLrs in co[￿li0￿ ivEth fhc LxamJttatiuJ] tv whi¢h altelliithi bhvuld be di￿9￿.n In this r¢wn in order its ¢*able 8 prop¢i iindersranding of accounts to b¢ T¢*hed. CJ3reth Qw¢Ji HllShL￿ ACA GaTsiJe Co. Limited l()I.16X ReLienE £trL'er London ¥IB5TCI l)ate: Page4 The St Nicholas Cole Abbey Centre for Workplace Ministry Limited State￿ent of FiN#n¢i*l Activities for the Yt*r Ended 31 Decernber 2022 31.12.22 Totsl funds Unrtsiricied fund Resrricted fund Toial funds Notes INCOME AND ENIKIWMENTS FROM Donaiions and legacies 523,868 523.868 531,405 Other trading activilie5 Inv¢slrn¢nl in¢ome Other incom¢ 62.408 62,408 46 17,132 50,225 696 17.132 Total 603,454 602,569 EXPENDITURE OY Raising funds 15.760 15,760 7,398 ChAritable attavities Charitable Activit1¢5 578.477 25.681 604.158 536.246 Total 25.681 619,918 543.644 NET INCOMEI(EXPENDITURE) 9.217 125.681) (16,464) 58,925 RECOYCILIATIOTr• OF FUNDS Total funds brought forward 191,748 306,004 497,752 438,827 TOTAL FLNDS CARRIED FORWARD 200.965 280.i23 481,288 497.752 The noies form part ofihese financial 5ts1cmenis Page 5 The St Nitho135 Cole Abbey Cenire ftbr Workplact Ministrv Limited IRe2iStered Dumber- 07780681) Balance Sheet 31 December 2022 31_12.22 Tothl funds Unresirict fund Resiricied fund Total funds Notes FIXED ASSETS Tangible a55ets Investtnents 12 13 20.641 280.323 300.964 322.646 280.i23 300,966 322,648 CURRENT ASSETS Stocks Dcbiors C￿h at bank and in hand 14 15 4,i20 72.607 125.860 4.320 72.607 125 860 4,828 46,900 202.787 202,787 232,889 CREDITORS Atnount% falling due within onc year 16 122,465} (22,465) {57,7851 NET CURRENT ASSETS 180.i22 180322 175,104 TO'IAL ASSETS LESS CURRF.r LIABILITIES 200.965 280.323 481.288 497,752 NET ASSETS 200.965 280.32J 481.288 497,752 FIINDS 17 Unrestricied funds Restricted funds 21)0,965 280.3?3 191,748 TOTAL FL'NDS 481,288 497 752 The charitable company is entitled io ¢xemp¢ion from audit under Section 477 of the Companies Act 2006 for the year ¢nd¢d 31 December 2022. The Members have not required the company lo obt31n an audit of its financial xtatanents for Ihe yeor ended 31 December 2022 in accordan¢e with Section 476 of Ihe Companies Aci 2006. The irusiees acknowledge iheir r¢srA)nsibiltiies for lal ensuring that the ¢haritabl¢ company keeps atc¢)unling re￿)ftIS that ¢omply with Seciions 386 and 387 of the Companies Act 2006 and prepatirtg financial statements which give a true &nd fair view of the stste of affairs of the ¢harÈtable company as at the end of each financial year and of its Surplus or deficit for each financial year in accordance with the requirements of Sections J94 and i95 and which oihenvise comply wilh the requirem¢ThLS of the CoThpanies Aci 2006 ￿lating to financial stsiemenls. 50 far &$ applicable to the charitable c4)mpany. Ibl The T￿1¢5 form part of these financial stsiements Page 6 tontinud... Tht Si Niehol*s Colt Abbei Conire for Workpl4&¥ Ilini¥lrv l.iniil¢d (Regisiercd numbtr= 0778116¥1) Bil*nto Shoot- eoDtiTrued JI l)e¢cmbcr 2022 Tliese linttntiil RtalctnL"nis hol'c hccn prcFarcd in &cordattct with applicable to chariiable CQTDpanic siibJeLt io Ihe smdll LOffiPdni¢ ol-iJii¥ibl¢ li.x¢d Iniert%t re¢tivcd 183061 4& 110.9091 696 Ntl use(] In invtsiing uciiwillts 18.100) in cash tquii.ll1e￿t5 111 lh£ r£porting ptri(kd l.'ash Lash ei}uivalcnt5 Ilt the be¥innin¥ ol thv reportlAg perind 155.241 60.846 120.?$5 C*sh and c¥sh equiv%l¢n15 ¥t rhe end o( lh¢ reporting ￿rIOd The Doles forni part of Ih¢5e tinarKial SMetTr¢Thls P3¥e ¥ The St Nieholas Cole Abbey Centre for 'orkpla¢e Ministry Limkted Notes to the Cxsh Flow Statement for the Year Ended 31 Decernbcr 2022 RECONCILIATION OF NET{EXPENDITL.REytNCOME TO NETCASH FLOW FROM OPERATING AcfiviTIES 31.12.22 31.12.21 Net (expenditure)lintomt for the reporting period (a5 per the Sialement of Financial Activitie5) Adjustments for= Depre¢i3tion charges Inieresi received tkcr¢as¢ in stocks Increase in debtor5 Lkcrease in cr¢dilors 116,4641 58.925 29.888 1461 508 {25,6471 35,3201 28.074 16961 263 15.282} 10,225) Net cash (used inllprovided by oper#tions 47,081 71.Oi9 ANALYSIS OF CHANGES IN NET FbTr4DS Ai 1.1 ?2 Cash flow At31.12.22 Nei ¢a$h C&sh at bank and in hand 181,101 55.241 125,860 55.2411 125,860 Total i5.2411 125,860 The notes form part of these financial sthiemen Page 9 The St Nieholas Cole .4bbey Cenlre ftsr Workp19¢e Ministrv l.imited Noies io the Financial Siaiemenis for the Year Ethdtd 31 De¢ember 1012 ACCOUNTING POLICIES B*$i$ of preparing the fin*n¢ial $tstement$ a) Basis ofprep¥ration and gsses5rneDI ofgoing concern The fin3nctal stat¢tn¢nts have b¢en pr¢par¢d undu th¢ historical cost coThvention with items recogttised ai cost or transaction value unless otherwise stated in the relevant notes lo thege accounts. The financial statements have been prepared in accordance with the Sratemeni of Recommended Praciiee.. AccollntIng and Reporting by Charilies preparing iheir accounts in ac¢ordance with the Financial Reporting StandaTd applicable in Ihe UK and Republic of Ireland {FRS 102} effe¢iive from l January 2019 and the Chart¢ie5 Act 2011. The St Nichola5 Cole Abbey Centre for Workplac¢ Ministry Limited ISNCAI constitutes a p￿bIle benefit entity as defined by FRS 102. The tTusiees consider thai thewe are no m*etial wKertain(ies aboui the SNCA'S ability lo continue a5 a going concern. The financial statements include all trdnsactions. assets and liabilities for which the SNCA is resJx>nsible in law. b) Funds structure Unrestricied funds represent the funds of the SX.CA that are not subj¢ct to any resiTiCtions regarding their use and are available for application the getseral PUTP)ses of the SNCA. Unrestricted funds may become designated funds where funds have been reserved for a particular pur]x)se by the SNCA. Restricted funds r¢pre5ent donatiolls. legacies or grnnts rtteived for a 5pecLfic object. or invited by the SNCA for a specific objcci. The funds may only be e.xpended on the specifie object for which they weTe given. Any balance remaining unspent * the end of each Jear be wried for¥vdrd as a balaTr¢e on that fund. The SNCA does not tjsually invcsi separately for each fijnd except where amounts involved are material. Where there is no separate investFnenl, inierest is appotlioned io ind¥vidual funds an average balance basis. t) Income recognition All incoming resources are recognised when rtteived by or on behalf of the SNCA. All income ts reported wss of any &ssociatcd expermliiure. Incotne ts)x rteovttablt on gift aid donations is rtcognised when the lax is recovered. Grants and Legacies (o the SNC.A are accounted for a5 500n as the SNCA is noiified of its legal eniiiletnenl. the amount due Is quantifiable and Ils uliimaie Itceipt by the SNCA i5 probable. Interest eamed on bank dewb51t xcounts is accounted for when ￿Ceived. Government grants relates to the Coronavirus Job Etdeniion kheme (CJRS) are recognised using the accnjal model and the performance model. Undcr ihe actTual tnodel, government granis relatin¥ its i¢venue are re¢OgnIs￿ on a 5ysiematic basis over the periods in which (he eompany Tecognises ihe relaitd eosts for which the grant is iniended to compensate. Grdnis that are re¢eivable as cotnpen5ation for expenses or 105ses already incurred or for the purpose of giving Immedia￿ f1t￿l¢la1 5upporl lo the entity with no future related cosis aTe recosnised in income in the pttiod in which it becotnes receivable. d) EI￿nd￿¢￿Te recognition Liabil￿treS are recognised &8 expenditure as soon a5 there is a legal or eonsttu¢tive obligation tommitting ro that expenditure, it 15 probable that sellltmeni will be required and the amollni of the obltgation can be tneasured reliably. Page 10 continu¢d... The St Trlicholas Cole Abbey Centre for Workplace Ministry Limited Notes to the Finxnti#l Statements- eontinued for the Y¢#r Ended 31 Detember 21122 ACCOUNTING POLICIES- ¢ontiThued Ba515 of preparillg the fI￿anCial 5t¥tements All expenditurt is a¢¢oun¢ed for on an ac¢nJals b&si& Amounis received specifically for mission arc dealt with a5 restricted funds. e) Current #s$ets Amounts owed lo th¢ SNCA at the year end In respeci of fees. gift aid recoverable or other income are shown as debtors. less provision for amounts that may pmve vn¢olleaible. O Financigl instruments The chaiily only has financial &ssets and financial liabi5iti¢s of a kind that qualify as basic financial instruinents. B&51c financial Instiumenis are Iniiiallj recognised at tranwtion value and subsequently measured at their settlement valut wilh the exception of bartk loans which are subsequently measured at amortised cost using the effective inieTe5t rnethod. g) Tlxation The charity is exempi frnm corporaiion rax on irs charitable activitLe5. h) Tgngible fixed a55ets Depreci2tion is provided ai the following annual ￿¢5 in order io Write off each asset over its estimated useful Improvemenis to leasehold property Fixture5 and fittings Computer equipmeni - in ¥¢oFdan¢e wilh the ternis of the lease - 20ts/0 on cosl - 33.3Q/•on c05t i) Stocks Stocks are valued at the lower of cost and net realisable value. after making due allowance for obsole¢e and slow moiLng Itcms. j) Inveslment$ InVesti￿entS are valued & tnarket value ai 31 December. Re41ised and unr¢ali%d gains ot losses on inv¢stm¢nts are dealt with in the Statement of Financial Activilies. Pension costs and other p)$t-retirtment benefits The charitable Companv operates a defined contribution pension scheme. Contributions payable to the ¢hariiable company's pension scheme are charged to the Stsiemeni of Financial Activities in the period to w'hich they relat¢. DONATIONS AND LECACIES 31_12_22 Donations & gifts Donations ioward catering cost 522.229 1.6i9 530,)04 5?3.868 5i1.405 Page 11 continued... The St Nicholas Cole Abbey Centre for Workptgce ￿linIStry Limited Notes to tbe Finxncigl St9temeRts- continued for the Ytar Ended 31 Dttember 2022 OTFIER TRADING AcfiviTIES 31.12.22 31.12.21 Book sal¢s Rental income Other income-wttkend away Other income-utilities contribution her income-telecom mast 2.320 7,582 24.129 9,078 19.299 844 8,260 8,432 15.458 17,231 62,408 INVESTMENT INCOME 31_12.22 31.12.21 Inieresi 46 696 OTHER INCOME 31.12.22 31.12.21 Misc. income categories 17.132 20.243 RAISING FUNDS Raising donation5 and legacies 31.12.22 31.12.21 Supwrt costs 645 Other trading activities 31.12.22 31.12.21 B(x)ks purCh￿d for re$￿e Catering expenses Books written off 3,741 10.841 533 1.345 5,142 Aggregate arnounts Pa8e 12 continued... The St NicholAs Cole Abbey Centre for Workplace Minisiry Limited Notes to th¢ Fin*D¢ial State￿ents- continued for the Year End¢d 31 Defember 2022 CHARITABLE A￿lIlITIEs COSTS Support 051515ee note 81 Direcl Costs Totals Charitsble Activities i96.208 7,950 604.158 SUPPORT cosrs Govemanc e cosrs Independeni examiner's fees- ¢UTrent year Legal fees 5,100 2.850 7,950 645 Bank charges 8,595 NET INCOMEI{EXPENDITURE) Net illrotn&(expenditure) LS Stated aficr charginpJltffditing)= 31.12.22 31.12.21 tkpreciation- owntd assets 28.074 10. TRUSTEES. REMUNERATION ATriD BEYI EFITS 'Off Comjnon Fund Clergy Costs, were paid ￿ ihe Lonth)n Dioccsan Fund for the year ended 31 December 2022 of £80,450 {2021 £79.800). These amounts are now believed to constinjie indirect benefits to iwo trustees (as detaild belowl and as such art nol allowed under tl)¢ iemis of (he coinpany's Memorattdum and Articles of Association. lji order lo rectify this breach of the governing d(xument l)oth of the truslets resigned &s trustees on I l October 202), thereby Tetngving 311 the conflirts. The payments also include certain ¢mpk>y¢r Tel￿ed costs hence the reason the indittct benefits below do not equal the Stipend paid_ Page 13 continutd... The St Nicholas Cole Abbry Centre for Workpl#te Iministry Limited Notes to the Fin*tt¢ial Statements- ¢otstinwd for the Year End¢d 31 Ike£￿ber 2022 10. TRusfEES' REMUNERATION AND BENEFITS 2022 Gr05s Stipends".£28,028 reecived by Reverernl Chrigopher Fishlock & £?6.302 received by Reverend Thomas Wright. Cotnbined total £54.330. Oth¢T Benefils.. Employ¢r Pension Cofitribulions= Reverend Thristopher Fishlo¢k £10,0￿) & Reverend Thomas WTight £10,000. Combined total of £20.000. Thus giving a total of £74.330. 2021 Gross Stipends.. £27,614 for Reverend Chnstopher Fishlock & £25.913 for Reverend T7K)mas Wright. Combined lolal of£53,527. Other Benefits.. Employer Pension Contributions". Reverend chriS￿pher Fishlock £IO,OIKI & Reweret*d Thomas Wright £10,000. Combined iotsl of £20,000. Thus giving a totsl of £73.527. In addition, there were clergy acco[n￿Od0li0n costs paid for ihe year ended i l December 2022 in resp¢¢t of ReveTend Fishlock and Reverend Writshi. This ¢omprised £68.74012021 £65.740} paid for ¢lergy rent, £3,467 12021 £3,577} paid for clergy council ￿ £1,40712021 £1.3531 for clergy waier rat¢s. The rent paid consi5¢ed of £30,960 (2021 £28.3201 paid direcily to Revd atld Mrs C Fishlock (See Note 18) and £37.780 {2021.. £37.4201 paid io an unconnected landlord. The directors also lodged a Serious IncideTtt Repon with th¢ Chariry Comtnission advising that such payments had been made io Reverend Christopher Fishl()ck sinee November 2015 and Rewerend Thorna5 Wrighi since July 2020. STAFF COSTS 31.1?.22 31.12.21 Wage5 aRd salaries Soei21 security c(vsls Other p¢Thsion costs 160,914 9,375 145,966 8,206 194,116 175,325 Page 14 continued... The St Nicholas Cole Abbey Centre for Workplace Iministry Limited r4otes io the Financigl Si%iements- eoniinued for the Year Ended 31 De(ember 21122 STAFF COSTh- tontinll The average monihly number of employees durin8 the year w&$ &$ follows.. 31.12.22 31.12.21 Administrative Staff Ministry sta No employees received emolunlents excess of £60.000_ 12. TANCIBLE FIXED ASSETS l¥nprovements io le&sehold property Fixtures and ritlings Computer equipment Tothls cosr At l January 2022 Addition5 521,452 63.266 6.463 4,539 743 589,257 8.206 At 31 D￿¢M￿r 2022 521452 69.729 6.282 597,463 DEPRECIATIOIY At l January 2022 Charge for year 205,715 25.681 59.165 2,113 1,731 2.094 266,611 29,888 At 31 December 2022 231.396 61.278 3.825 296,499 NET BOOK VALLE At 31 December 2022 290.056 8.451 2,457 300,964 At 31 December 2021 315.737 2,808 32? 646 13. FIXED ASSET INVEsfMEliTS Shares in group undenakings MARKET VALUE At l January 2022 and 31 December 2022 NET BOOK VALLIE At 31 Decetnber ?02? At 31 tkcember 2021 There were no iThvestmeni &5sas outside the UK. The company's investments ai the balante sheet date in the share capitsl of companie5 include the following.. Page IS coniinued... The St Nitholas Cole Abbey Centrt for Workpl2ee ￿lInistry Limited Not¢s to th¢ Financial Statements- ¢onlinutd f(pr th¢ Y￿r Ended 31 Dttember 2022 13. FIXED ASSET INVESTMENTS- contlDued Disiaff Lane Coffee Limited R¢gi5t¢r¢d offic¢." LTnited Kingdom Naiure of busines5.' Coffee Shop Class of share: Ordinary £1 holding 14. STOCKS 31.12.22 31.12.21 Book inveniory 15. DEBTORS: AMOUP*TS FALLING DUE WITHIN OYE YEAR 31.12.22 31.12.21 Trad¢ d¢btOTS Other debtors A¢cTued income (includes unclairned Gift Aid) Prepayments 17.388 24,331 2,129 8,608 18.764 12,124 31.088 5.135 46,960 Included in Other debtors is an amount of £7.625 due from Disraff Lane Coffee Limited which is unsecured, repayable on demand and non-inieresi bearing. 16. CREDITORS: AMOUNTS FALLING DUE WITHIN OYE YEAR 31.12.22 31.12.21 Trade creditor5 Accruals and deferred incorne Accrued expenses 8.876 6.810 17,391 17. MOVEMENT IN FUNDS Net movement in funds Al 31.12.22 At 1.1.22 Unrestritttd f￿ndS General fund 191.748 9.217 200,965 Restricted funds Resiricied fllnd 306.004 {25.6811 280,323 TOTAL FUNDS 497,752 16,4641 481,288 Page 16 continued... -Ihe St Nichola5 Cole Abbey Centre for Workplace Ministry Limited Notes to the FinAnciAI StAtements- eomtinuÈd for the Year Ended 31 December 2022 17. MOVEMENT IN FUIYDS- coTr(inued Net movctnent in funds. included in the above are as follows= Incoming resources Resourees expended Movetnent in funds Urtre$tritttd funds General fund 603.454 1594.237) 9.217 Resiritied funds Resiricted fund (25.681) {25.681) TOTAL FUNDS 603,454 6199181 16,464) Cornparative5 for Thovemenl in funds Net movemenl in funds At At 1.1.21 Unrestricted funds General fund 107.142 84,606 191,748 Re5trirt¢d fuRd$ Kestricted fund 331.685 125.681) 306.004 T(yfAL FUNDS 438.827 58.925 497 7)2 Comparativ¢ nei movement in funds. includtd in the abovc are as follows". Incoming re50urce5 Rwu1¢¢5 expended Movement In fijndg Unrestricted funds General fund 602.569 (517.963) 84,606 Re$tritted fllnds Re51rict¢d fund 125,6811 {25.681) TOTAL FUNDS 602 569 543,6441 58.975 Page 17 continued... The St Nicholas Cole Abbey Cenirn for WorkplAce f¥linistry Limited Notes to the FinAncial Statements- ¢i)Illin￿ed for the Yt#r 31 Déoember 2022 17. MOVEMENT IN FUNDS- toTrtinued A current year 12 months and prior year 12 months ¢ombined p)sition is #s ftsllows= Net movement in funds At 31.12.22 Ai 1.1.21 Unrestritted funds Generdl fund 107.142 93,823 200,965 Restricted fund5 Restricted fund 331.685 {5l,3621 280,323 TOTAL FITNDS 438,827 481 288 A current year 12 month5 and prior ye4r 12 months combirKd net movement in ￿nds. included in the above Are as follows.. Incorning resources Resources expended Movement in funds Unrestrieted funds Generdl fund 1,206,02J {1.112.21)01 93,823 Restricted fund5 Resirictrd fund {51,3621 151,3621 TOTAL FUNDS 1206 023 {1 163 5621 42.461 18. RELATED PARTY DISCLOSURES Toial donations mad¢ lo ihe church by trusttts durih8 the year amounied ￿ £97,865 {2021 _ £136,278). During the year. Distaff Lane Coffee Limited made don￿10￿$ in kit)d of coffee and Cakes for 1-2-1 bibl¢ reading id staff lunches amounting lo £1.875 {2021 £1.418)_ In addition to trustees. renumeta(ion and benefits set out in Note 10. th¢ company rented a property which was jointly owned by Reverend Christopher Fishlock. Imrs Caroline Fishlock, who is the wife of Reverend Fishlotk, and a third party. The Iolal amount of rent paid w&s £i0.9￿ (2021: £28.3201. Mrs Caroline Fishlock was employed &8 pan Ètme finance manager and reeeived a gross salary of £20,447.92 12021- £19,288.40). The payments for ren¢ and salary have been disclosed to the Charity Commission in the Seiious Incid￿1 Repo referred to in Nole 10 above. Distaff iJne Coffee Lirnited (A wholly-owned subsidiary of SNCAI Al the reporting date an interest free 102n balan¢e of £7.625 {2021 - £7.6251 Is due from Distaff Lan¢ Coff¢¢ Limited. Page 18 The St Nicholas Cole Abbey Centr* for Workplace Iministry Limited D¢tall￿ Stattment of Financial AciiTritie5 for th¢ Year Ended 31 Decemb¢T 2022 31.12.22 31.12.21 INCOME AND ETr4DOWMEliTS Dongtions legacie5 Donaiiong & gifts Donations ioward catering co 522.229 530,304 523.868 531,405 Other trading Acti*'itie$ Book sales Rental incotne Other in¢ome-we¢kend away Other in¢om¢-utilitI￿ contribution Other income-ielecom masi 2,320 7.582 24,129 9.078 19,299 844 8,260 8.432 15,458 62,408 50,225 Invt51rnent incorne Interest 696 Other in¢tsme Misc in¢ome ¢aiegories Totsl ineoThing resources 60i,454 602.569 EXPENDITURE Other trading activities Books pyrchascd for resale Caiering expenses Books written off 3,741 10,841 533 1.345 5.142 7,398 Charitable activities Wages Social secuiity Pensions 160,914 9.375 2).827 145,966 8206 21.153 k li Light and heat Events expenses Building expenses-SNCA Office supplies Insurance Watcr and waslewaler Building expenses-I l Fleei Si Books and publication5 Computer expenses Lease rental to Dioces¢ of London Carried forward 16.510 19.655 14,824 1.245 4.863 2.280 38,530 200 2.869 22,125 317217 14,164 9,009 4,912 1,280 4.538 1,970 47,929 512 4,135 29.500 293274 This page th)es forni pan of the ￿t￿[Ory fin￿e13] stsiemenis Page 19 The St Nichol*s Cole Abbey Ctntre for Workpl#ce Ministry Limited Detailed Siaiement of Fin*nfi*l A¢tiwiiits for the Y¢ar Ended 31 Deeetnber 2022 31.12.22 31.12.21 Charitable activitie5 Broiight forward Clcrgy accomm(NJation ￿$ts Clergy expenses Siaff conferences Siaff lunches oirice runnirtg cO￿S Weekend away costs Ministry giving and butsaries Crèche & Sunday School Resources Building expenses-victoria Talks Death In Service payotji Loans Wriiien O Depreciation of tangible fixed assets 317.217 68.740 85.721 4.611 5.182 11,646 28,357 7,100 2,911 7,803 27,032 293,274 6),740 84,924 2,673 4,946 7,279 9.008 10,000 160 20,072 28.074 29.888 596,208 527 J61 Support tosts Finance Bank charges 645 488 CovernAnce costs Independent exa]nin&s f¢¢s- ¢urret)i year L¢gal fees 5,100 2,850 5,000 3.397 7.950 8.397 Total resources expended 619918 Net ltxpenditllrellincome 58.925 This pa8e th)es tlot forni part of the statutory fittantiat strt¢rn¢nts Page 20