Charity registration number: 1147909
## Maidenhead United Reformed Church
Annual Report and Financial Statements for the Year Ended 31 December 2022
Field Sullivan Limted 9 Hare & Billet Road Blackheath London SE3 0RB
## **Maidenhead United Reformed Church**
## **Contents (continued)**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 6|
|Independent Examiner's Report|7 to 8|
|Statement of Financial Activities|9 to 10|
|Balance Sheet|11|
|Notes to the Financial Statements|12 to 22|
## **Maidenhead United Reformed Church**
## **Reference and Administrative Details**
**Trustees** Gordon Campbell Elizabeth Rigg Harris John Antony Holton Michael Stuart Liddle Robert Hepburn Robertson Sheila Perkins Alison Galloway Holton **Charity Registration Number** 1147909 **Principal Office** West Street Maidenhead Berkshire SL6 1RL **Independent Examiner** Field Sullivan Limted 9 Hare & Billet Road Blackheath London SE3 0RB
Page 1
## **Maidenhead United Reformed Church**
## **Trustees' Report**
The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's constitution including the United Reformed Church Scheme of Union, the Charities Act 2011 and "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**
## _**Objects and aims**_
The charity’s objects are the advancement of the Christian faith, the public worship of God, Christian witness and service in accordance with the principles and usages of the United Reformed Church.
The charity continues to monitor these objectives through the Church and Elders’ Meetings.
The charity has one significant legacy endowment fund which limits spend to the income generated. There are no other significant funds which have restricted uses.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## _**Objectives, strategies and activities**_
## _Key Activities_
The holding of a weekly church service each Sunday.
Arranging special services at Christmas and Easter.
When needed, provision of children’s classes each Sunday for Christian education.
Volunteers are the core of the activities of the church. They provide the roles of property manager, treasurer, secretary, youth work manager as well as supporting the general life of the church.
## _**Public benefit**_
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Page 2
## **Maidenhead United Reformed Church**
## **Trustees' Report (continued)**
## **Achievements and performance**
After a turbulent 2 years affected by Covid, 2022 was a gradual return to normality. Services continue to be held weekly with the third Sunday of the month being on Zoom, jointly with Marlow. Joint church services are alternately held at either Maidenhead or Marlow once a quarter.
The two churches have combined for social activities but especially in support of the work to supply food and other goods to Ukraine. Part trucks are sent with goods approximately every two months. A real team spirit has been developed to pack the goods and the load them on to the trucks. The loading has especially been helped by Ukrainian refugees now living in the UK.
These goods now go to Poland where they are split into smaller loads and taken in vans to places where they are most needed. A delegation of 6 from the two churches has been to Poland to see the operation and meet the communities involved. One went with goods into Ukraine to see the goods being gratefully received.
We maintain contact with this community by employing 2 refugees on a part time basis to assist in the settling process. We provide premises for a Ukraine choir which meets on a weekly basis and have also held craft workshops to learn some of the skills in making traditional items.
The halls and sanctuary are again being used extensively by other community groups with the largest being an after school club which runs during term time.
We now have 3 community choirs testing our acoustics.
The church has continued to hold Wednesday coffee mornings for members and during the winter we opened the church on Fridays as a warm hub for those struggling with heating bills. Our new gas boilers have been very effective.
The Scout group which continued to function on Zoom during Covid has blossomed since their return to normal and numbers are up on the pre-Covid era. Camps and other activites have returned. Their quiz night had a record 80 people squeezed into the hall.
Page 3
## **Maidenhead United Reformed Church**
## **Trustees' Report (continued)**
## **Financial review**
The continuing war in Ukraine, the political uncertainty and the sudden rise in inflation and interest rates all affected the value of Investments in 2022. While £12,000 were sold to help fund the new boilers which cost £62,000, there was a drop of £159,000 in the market value due to market confidence. This contrasted with the gain of £312,000 in 2021. By November 2023 the value improved by £32,000 on December 2022.
Income from offerings declined slightly but this was more than offset by a rise in rental income of £3,700 as users started to return. Despite the fall in the market value of investments income actually improved by over £4,000. We no longer had the benefit of the furlough scheme which contributed £8,187 in 2021.
By far the biggest change was in our collections for Ukraine. Initially we collected £1,825 cash donations which was sent to the Salvation Army which was supporting refugees arriving in Moldova. A Polish lady in Maidenhead started collecting food and clothing for refugees arriving in Poland but was soon overwhelmed and so we joined forces to work together. In the year a total of £29,722 was received in cash donations as well as physical goods with a value of around £100,000. £13,160 was spent to buy food which was sent in the year together with the goods collected, leaving £16,562 to be spent in 2023.
Total expenditure jumped by £149,000 mainly because of the Ukraine collections (£131,000). Depreciation was up by £9,000 as a result of the installation of the new boilers and maintenance rose by £4,000 as a result of repairs to the halls and barrier repairs.
Overall surplus was £19,152 which is down on an exceptional 2021 at £20,262.
However the drop in the value of investments of £158,871 meant that the total loss was £139,719 compared to the surplus in 2021 of £332,708.
## _**Policy on reserves**_
The charity holds considerable investments the income from which supports the work of the church. It is the policy of the charity that unrestricted funds held as net current assets which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure.
The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. Three months of unrestricted general fund costs amounts to around £28,000. Unrestricted reserves held as net current assets amounted to just over £38,000 at the year end.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Page 4
## **Maidenhead United Reformed Church**
## **Trustees' Report (continued)**
## **Trustees and officers**
The trustees and officers serving during the year and since the year end were as follows:
Trustees:
Gordon Campbell Elizabeth Rigg Harris John Antony Holton Michael Stuart Liddle (appointed 1 January 2022) Robert Hepburn Robertson Sheila Perkins Alison Galloway Holton
## **Structure, governance and management**
## _**Nature of governing document**_
The charity was established by a constitution adopted on 19 February 2012.
Maidenhead United Reformed Church (URC) is part of the Wessex Synod of the URC which in turn is part of the national body of the URC. Under the constitution, control of the church is assigned to the Church Meeting and the Elders’ Meeting of Maidenhead URC.
## _**Recruitment and appointment of trustees**_
Trustees, who are also elders, are nominated by members of the church and are formally appointed by church members at the Church Meeting.
## _**Organisational structure**_
Committees are set up for different activities of the church:
- Finance and Administration
- Life and Mission
- Worship and Music
The Elders Committee manages the finances within the constraints of the annual budget which is approved by the Church Meeting.
The Church Meeting is the ultimate decision making body and any major budget variations to the expenditure have to be agreed by this meeting.
The church operates as an autonomous organisation and has no related parties upon whom it depends to carry out its charitable purposes.
Page 5
## **Maidenhead United Reformed Church**
## **Trustees' Report (continued)**
## **Statement of Trustees' Responsibilities**
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The annual report was approved by the trustees of the charity on 12 January 2024 and signed on its behalf by:
......................................... Gordon Campbell Trustee
Page 6
## **Maidenhead United Reformed Church**
## **Independent Examiner's Report to the trustees of Maidenhead United Reformed Church**
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2022 which comprise the Statement of Financial Activities, the Balance Sheet and related notes.
This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed.
## **Responsibilities and basis of report**
As the charity trustees of Maidenhead United Reformed Church 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 Maidenhead United Reformed Church's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.
## **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 Maidenhead United Reformed Church as required by section 130 of the Act; or
2. the financial statements do not accord with those records; or
3. the financial statements do not comply with the accounting 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.
Page 7
## **Maidenhead United Reformed Church**
## **Independent Examiner's Report to the trustees of Maidenhead United Reformed Church (continued)**
...................................... Timothy Sullivan FCA Field Sullivan Limted 9 Hare & Billet Road Blackheath London SE3 0RB
Date:.............................
Page 8
## **Maidenhead United Reformed Church**
## **Statement of Financial Activities for the Year Ended 31 December 2022**
## **Current year**
|**Note**
**Income and Endowments from:**
Donations and legacies
Charitable activities
Investment income
5
Total Income
**Expenditure on:**
Raising funds
Charitable activities
Total Expenditure
Gains/losses on investment assets
Net (expenditure)/income
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
18|**Unrestricted**
**funds**
**General**
**£**
29,441
12,034
74,557
116,032
(3,746)
(109,696)
(113,442)
(65,165)
(62,575)
(62,575)
1,182,298
1,119,723|**Restricted**
**funds**
**£**
133,224
-
-
133,224
-
(116,662)
(116,662)
-
16,562
16,562
-
16,562|**Endowment**
**funds**
**Permanent**
**£**
-
-
-
-
-
-
-
(93,706)
(93,706)
(93,706)
1,573,616
1,479,910|**Total**
**2022**
**£**
162,665
12,034
74,557|
|---|---|---|---|---|
|||||249,256|
|||||(3,746)
(226,358)|
|||||(230,104)
(158,871)|
|||||(139,719)|
|||||(139,719)
2,755,914|
|||||2,616,195|
The notes on pages 12 to 22 form an integral part of these financial statements. Page 9
## **Maidenhead United Reformed Church**
## **Statement of Financial Activities for the Year Ended 31 December 2022 (continued)**
## **Prior year**
|**Note**
**Income and Endowments from:**
Donations and legacies
Charitable activities
Investment income
5
Total Income
**Expenditure on:**
Raising funds
Charitable activities
Total Expenditure
Gains/losses on investment assets
Net income
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
18|**Unrestricted**
**funds**
**General**
**£**
30,876
14,465
70,364
115,705
(3,568)
(91,875)
(95,443)
128,472
148,734
148,734
1,033,564
1,182,298|**Restricted**
**funds**
**£**
2,368
-
-
2,368
-
(2,368)
(2,368)
-
-
-
-
-|**Endowment**
**funds**
**Permanent**
**£**
-
-
-
-
-
-
-
183,974
183,974
183,974
1,389,642
1,573,616|**Total**
**2021**
**£**
33,244
14,465
70,364|
|---|---|---|---|---|
|||||118,073|
|||||(3,568)
(94,243)|
|||||(97,811)
312,446|
|||||332,708|
|||||332,708
2,423,206|
|||||2,755,914|
All of the charity's activities derive from continuing operations during the above two periods.
The funds breakdown for 2021 is shown in note 18.
The notes on pages 12 to 22 form an integral part of these financial statements. Page 10
## **Maidenhead United Reformed Church**
## **(Registration number: 1147909) Balance Sheet as at 31 December 2022**
|**Note**
**Fixed assets**
Tangible assets
13
Investments
14
**Current assets**
Debtors
15
Cash at bank and in hand
16
**Creditors: Amounts falling due within one year**
17
**Net current assets**
**Net assets**
**Funds of the charity:**
**Endowment funds**
**Restricted income funds**
Restricted funds
**Unrestricted income funds**
Unrestricted funds
**Total funds**
18|**2022**
**£**
48,235
2,513,599
2,561,834
9,624
50,028
59,652
(5,291)
54,361
2,616,195
1,479,910
16,562
1,119,723
2,616,195|**2021**
**£**
4,321
2,688,470|
|---|---|---|
|||2,692,791|
|||6,622
62,869|
|||69,491
(6,368)|
|||63,123|
|||2,755,914|
|||1,573,616
-
1,182,298|
|||2,755,914|
The financial statements on pages 9 to 22 were approved by the trustees, and authorised for issue on 12 January 2024 and signed on their behalf by:
......................................... Gordon Campbell Trustee
The notes on pages 12 to 22 form an integral part of these financial statements. Page 11
## **Maidenhead United Reformed Church**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
## **1 Charity status**
The charity is domiciled in England and Wales.
The address of its registered office is: West Street SL6 1RL
These financial statements were authorised for issue by the trustees on 12 January 2024.
## **2 Accounting policies**
## **Statement of compliance**
The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102) - Second edition October 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.
## **Basis of preparation**
Maidenhead United Reformed Church meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
## **Going concern**
The financial statements have been prepared on a going concern basis.
The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.
Page 12
## **Maidenhead United Reformed Church**
## **Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)**
## **Judgements and key sources of estimation uncertainty**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the periods in which the estimate is revised where revisions affects only that period, or in the period of the revision and future periods where the revisions affects both current and future periods.
## **Income and endowments**
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
## _**Donations and legacies**_
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
## _**Gifts in kind**_
Gifts in kind are recognised in different ways dependent on how they are used by the charity:
(i) Those donated for resale produce income when they are sold. They are valued at the amount actually realised. (ii) Those donated for onward transmission to beneficiaries are included in the Statement of Financial Activities as incoming resources and resources expended when they are distributed. They are valued at the amount the charity would have had to pay to acquire them.
(iii) Those donated for use by the charity itself are included when receivable. They are valued at the amount the charity would have had to pay to acquire them.
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
## _**Raising funds**_
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
Page 13
## **Maidenhead United Reformed Church**
## **Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)**
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## _**Grant provisions**_
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
## **Support costs**
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
## **Taxation**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **Tangible fixed assets**
Individual fixed assets costing £1,000.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
The freehold property of the church at West Street, Maidenhead is beneficially owned by the charity and held in trust by the United Reformed Church Wessex Synod. No historic cost information is available. The church also has use of a manse owned by the United Reformed Church Wessex Synod. Insurance values are church, halls and contents £7,209,162 and boiler and plant £27,000.
## **Depreciation and amortisation**
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
**Asset class** Furniture,fittings & equipment
**Depreciation method and rate** 25% straight line
Page 14
## **Maidenhead United Reformed Church**
## **Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)**
## **Fixed asset investments**
Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## **3 Income from donations and legacies**
|Donations and legacies;
Donations from individuals
Gift aid reclaimed
Gifts in kind|**Unrestricted**
**funds**
**General**
**£**
23,551
5,890
-
29,441|**Restricted**
**funds**
**£**
31,632
1,592
100,000
133,224|**Total**
**2022**
**£**
55,183
7,482
100,000
162,665|**Total**
**2021**
**£**
26,815
6,429
-|
|---|---|---|---|---|
|||||33,244|
Page 15
## **Maidenhead United Reformed Church**
## **Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)**
## **4 Income from charitable activities**
|Church activities, clubs and events
Rental income
Other income
**5**
**Investment income**
Other income from fixed asset investments
**6**
**Expenditure on raising funds**|**Unrestricted**
**funds**
**General**
**£**
275
6,281
5,478
12,034
**Unrestricted**
**funds**
**General**
**£**
74,557|**Total**
**2022**
**£**
275
6,281
5,478
12,034
**Total**
**2022**
**£**
74,557|**Total**
**2021**
**£**
463
2,529
11,473|
|---|---|---|---|
||||14,465|
||||**Total**
**2021**
**£**
70,364|
|||||
## **a) Investment management costs**
|**a) Investment management costs**|||
|---|---|---|
|Other investment management costs;
Investment management|**Total**
**2022**
**£**
3,746
3,746|**Total**
**2021**
**£**
3,568|
|||3,568|
Page 16
## **Maidenhead United Reformed Church**
## **Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)**
## **7 Expenditure on charitable activities**
|**Note**
Ministry costs
Equipment
Other direct costs
Church running expenses
Manse running expenses
Music
Youth
Grant funding of activities
9
Staff costs
Support costs
8|**Total**
**2022**
**£**
25,966
1,409
1,245
32,232
4,286
1,094
-
118,630
5,736
35,760
226,358|**Total**
**2021**
**£**
25,220
1,611
783
25,370
4,367
1,179
95
3,368
5,736
26,514|
|---|---|---|
|||94,243|
## **8 Analysis of support costs**
|Staff costs
Wages and salaries
Depreciation, amortisation and other similar costs
Administrative expenses
Independent examination|**Total**
**2022**
**£**
12,687
18,086
2,887
2,100
35,760|**Total**
**2021**
**£**
13,290
8,964
1,860
2,400|
|---|---|---|
|||26,514|
Page 17
## **Maidenhead United Reformed Church**
## **Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)**
## **9 Grant-making**
## **Analysis of grants**
|**Analysis**
Salvation Army
Ukraine appeal
URC trust - Commitment for life
Water Aid
Other|**Grants to institutions**
**2022**
**£**
**2021**
**£**
1,842
-
-
-
1,563
2,368
1,000
1,000
1,065
-
5,470
3,368|**Grants to**
**individuals**
**2022**
**£**
-
113,160
-
-
-|
|---|---|---|
|||113,160|
## **10 Trustees remuneration and expenses**
- £1,941 expenses were reimbursed to trustees in the year.
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any other benefits from the charity during the year.
## **11 Staff costs**
The aggregate payroll costs were as follows:
|**Staff costs during the year were:**
Wages and salaries|**2022**
**£**
18,423|**2021**
**£**
19,026|
|---|---|---|
No employee received emoluments of more than £60,000 during the year
Page 18
## **Maidenhead United Reformed Church**
## **Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)**
## **12 Taxation**
The charity is a registered charity and is therefore exempt from taxation.
## **13 Tangible fixed assets**
|**Cost**
At 1 January 2022
Additions
At 31 December 2022
**Depreciation**
At 1 January 2022
Charge for the year
At 31 December 2022
**Net book value**
At 31 December 2022
At 31 December 2021|**Furniture and**
**equipment**
**£**
43,658
62,000
105,658
39,337
18,086
57,423
48,235
4,321|**Total**
**£**
43,658
62,000|
|---|---|---|
|||105,658|
|||39,337
18,086|
|||57,423|
|||48,235|
|||4,321|
Page 19
## **Maidenhead United Reformed Church**
## **Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)**
## **14 Fixed asset investments**
|**14 Fixed asset investments**||||||
|---|---|---|---|---|---|
|Other investments
**Other investments**
**Cost or Valuation**
At 1 January 2022
Revaluation
Disposals
At 31 December 2022
**Net book value**
At 31 December 2022
At 31 December 2021
**15 Debtors**
Prepayments
Other debtors
**16 Cash and cash equivalents**
Cash at bank
**17 Creditors: amounts falling due within one year**
Accruals|**Listed**
**investments**
**£**
2,683,983
(158,871)
(12,000)
2,513,112
2,513,112
2,683,983||**2022**
**£**
2,513,599
**Unlisted**
**investments**
**£**
4,487
-
(4,000)
487
487
4,487
**2022**
**£**
1,630
7,994
9,624
**2022**
**£**
50,028
**2022**
**£**
5,291||**2021**
**£**
2,688,470|
||||||**Total**
**£**
2,688,470
(158,871)
(16,000)
2,513,599
2,513,599
2,688,470
**2021**
**£**
-
6,622|
||2,513,112||487|||
||2,513,112||487|||
||2,683,983||4,487|||
||||**2022**
**£**
1,630
7,994
9,624
**2022**
**£**
50,028
**2022**
**£**
5,291|||
||||||6,622|
||||||**2021**
**£**
62,869|
||||||**2021**
**£**
6,368|
Page 20
## **Maidenhead United Reformed Church**
## **Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)**
## **18 Funds**
|**18 Funds**||||||
|---|---|---|---|---|---|
|**Unrestricted funds**
**_General_**
General Funds
**Restricted funds**
Charitable Collections Fund
**Endowment funds**
**_Permanent_**
Margaret Shephard Legacy Fund
**Total funds**
**Unrestricted funds**
**_General_**
General Funds
**Restricted funds**
Charitable Collections Fund
**Endowment funds**
**_Permanent_**
Margaret Shephard Legacy Fund
**Total funds**|**Balance at 1**
**January**
**2022**
**£**
1,182,298
-
1,573,616
2,755,914
**Balance at 1**
**January**
**2021**
**£**
1,033,564
-
1,389,642
2,423,206|**Incoming**
**resources**
**£**
116,032
133,224
-
249,256
**Incoming**
**resources**
**£**
115,705
2,368
-
118,073|**Resources**
**expended**
**£**
(113,442)
(116,662)
-
(230,104)
**Resources**
**expended**
**£**
(95,443)
(2,368)
-
(97,811)|**Other**
**recognised**
**gains/(losses)**
**£**
(65,165)
-
(93,706)
(158,871)
**Other**
**recognised**
**gains/(losses)**
**£**
128,472
-
183,974
312,446|**Balance at**
**31**
**December**
**2022**
**£**
1,119,723
16,562
1,479,910|
||||||2,616,195|
||||||**Balance at**
**31**
**December**
**2021**
**£**
1,182,298
-
1,573,616|
||||||2,755,914|
Page 21
## **Maidenhead United Reformed Church**
## **Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)**
The specific purposes for which the funds are to be applied are as follows:
## Restricted funds
The Charitable Collections Fund raises monies for specific purposes and for those in particular need.
## Permanent endowments
The Margaret Shephard Legacy Fund is monies left to the charity whereby the income arising from the underlying investments may be used for general church purposes. All income on endowment fund investments is allocated directly to general funds.
## **19 Analysis of net assets between funds**
|Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Total net assets|**Unrestricted**
**funds**
**General**
**£**
48,235
1,033,689
43,090
(5,291)
1,119,723|**Restricted**
**funds**
**£**
-
-
16,562
-
16,562
**Unrestricted**
**funds**
**General**
**£**
4,321
1,114,854
69,491
(6,368)
1,182,298|**Endowment**
**funds**
**Permanent**
**£**
-
1,479,910
-
-
1,479,910
**Endowment**
**funds**
**Permanent**
**£**
-
1,573,616
-
-
1,573,616|**Total funds at**
**31 December**
**2022**
**£**
48,235
2,513,599
59,652
(5,291)|
|---|---|---|---|---|
|||||2,616,195|
|||||**Total funds at**
**31 December**
**2021**
**£**
4,321
2,688,470
69,491
(6,368)|
|||||2,755,914|
## **20 Related party transactions**
During the year the charity made the following related party transactions:
Donations of £11,730 (2021- £11,000) were received from trustees and related parties. At the balance sheet date the amount due to/from was £Nil (2021 - £Nil).
Page 22