## Godfirst Church Cheltenham
Report and Accounts Year ended 31 December 2020
1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk
## **GODFIRST CHURCH CHELTENHAM**
## **FOR THE YEAR ENDED 31 DECEMBER 2020**
## **COMPANY INFORMATION**
**Directors / trustees** H Kellett - Church Leader T Bradbury T Foster J Bell (appointed February 2020) B Gatley (appointed February 2020) **Company Secretary** T Foster **Key management** Howard Kellett Christopher Appel **Governing Document** Memorandum and Articles of Association dated 31 May 2012 **Company Registration Number** 08090929 **Charity Registration Number** 1148222 **Registered Office** 2 Mayhill Shurdington Road Cheltenham Gloucestershire GL53 0NJ **Independent Examiner** Lourens du Plessis ACA CA(SA) Stewardship 1 Lamb's Passage London EC1Y 8AB **Bankers** HSBC Bank plc
|**Contents**|**Page**|
|---|---|
|Company Information|1|
|Directors' Report|2-5|
|Independent Examiner's Report|6|
|Statement of Financial Activities|7|
|Balance Sheet|8|
|Notes to the Accounts|9-15|
|Detailed Statement of Financial Activities with Comparatives|16|
Page 1
## **GODFIRST CHURCH CHELTENHAM REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 DECEMBER 2020**
The directors, who are the charity's trustees for the purposes of charity law, have pleasure in submitting the Report and Accounts for the year.
The primary objective of the church is to advance the Christian faith in accordance with the charity’s Statement of Beliefs in Cheltenham, and in such other parts of the United Kingdom and the world, as the Trustees may from time to time think fit.
## **Summary of the charity's main activities and achievements**
To further the above objectives, the charity's main activities and achievements were as follows:
The church began gathering informally in September 2009. At the start of this reporting period we had 136 adults and 54 children who would consider Godfirst their church. The bulk of the reporting period was significantly impacted by the Covid 19 pandemic. The pandemic has meant that we have no hard indication of how many people would consider Godfirst their church now.
## **Covid-19**
In March 2020 the trustees took measures (in line with government advice and legislation) to help contain the nationwide outbreak of COVID-19. This included the temporary suspension of all physical gatherings and the charity has had to curtail, or change, how it operates; the charity has been able to continue many of its activities using on-line media. The charity continued to monitor income and expenditure to mitigate the financial impact.
From 21[st] March until the end of December Godfirst Sunday went online – via YouTube - with only 4 In-Person Sundays at the Parabola Arts Centre in October /November.
People at Godfirst Church Cheltenham gather to share life together in seven 'Godfirst Communities’. From 15[th] March 2020 these groups have met via Zoom. These provide social cohesion for a significant number of people beyond the church community. During the pandemic Godfirst youth continued activities online. We ran two Alpha Courses (one in conjunction with Love Cheltenham).
We supported the Love Cheltenham Carols by Carlight (£1,000) and by significant number of volunteers. The event was attended in-person by over 700 cars representing households or bubbles, as well as the Mayor and Local MP. As the event was livestreamed, hundreds more households were able to join in from their homes.
## **Grants and Giving**
We have made grants to organisations and charities that share our values and charitable aims. We provided finance for UK charities including Speak Life, and local charities such as Family Space, Teens in Crisis, Cheltenham Foodbank, Maggies Cancer Support.
We have a Hardship Fund (in line with one of our charitable aims) which we developed to allow us to support local people in deep financial need, in line with our Hardship Fund policy. We gave £2610 to 6 families during the pandemic.
We support our church planting network Advance Movement UK. We continue to support churches overseas in less developed settings that are part of the Advance network of churches including Dar
Page 2
es Salaam Tanzania and Amanzimtoti, Durban South Africa, plus we supported Advance Churches in Nepal who faced significant poverty due to complications brought about by the pandemic.
We continue to review our safeguarding procedures in line with current guidelines from Thirtyone:eight (formerly CCPAS). We have worked to ensure continued full GDPR compliance.
In planning the activities, the Directors have had regard to the guidance on public benefit issued by the Charity Commission.
## **Staffing**
Our staffing base at the end of 2020 was 2.59 FTE staff. Our staff team now consists of a full time Senior Pastor, a full time Associate Pastor on a Tier 2 Visa, a Children’s worker for 4 hours (0.11 FTE), an Operations Manager for 12 hours (0.34 FTE) and a Treasurer for 5 hours (0.14 FTE). During the reporting period we employed a new member of staff (a part qualified accountant) who took over the role of our Treasurer which role until that point was held by the Children’s worker. Having staffed for growth before the pandemic and with staff costs at larger percentage of overall expenditure than we would like in the medium term, we have not replaced our Youth worker (0.22 FTE) and administration assistant (0.34 FTE) who left to pursue other employment.
## **Structure, Governance and Management**
The policy and operating decisions of the charity rest with the Directors who meet regularly to monitor the activities of the Company. The Trustees are responsible for ensuring that Godfirst Church Cheltenham fulfils its aims. The management of the charity is delegated to Howard Kellett who serves both as Trustee and is employed as the leader of the church. Staff salaries and conditions are set by a Trustee sub-committee to ensure no conflict of interest in this area. Potential new Trustees are identified by the Elders and approved and appointed by a vote of the Trustee board. Howard has regular monthly meetings with the wider leaders of the church. Our Treasurer prepares detailed monthly financial reports for the Elders and Trustees.
Whilst the spiritual leadership of Godfirst Church Cheltenham lies with a team of four Elders, we ensure a clear delineation of responsibilities, between Trustees, Elders and Staff team.
Godfirst is part of the Advance Network of Churches.
## **Financial review**
During the year income increased by £4,583 to £221,396 and expenditure decreased by £10,038 to £190,208. As a result, the charity has reported a surplus for the year of £31,188 (2019: £16,567) and net assets have increased by that amount to £97,636. Net assets includes cash of £85,404, of which £2,062 is restricted, £70,971 is held in the designated Vision Fund and £12,370 is held in unrestricted general funds.
## **Reserves policy**
The Board of Directors have established a policy whereby free reserves (which the trustees define as being unrestricted net current assets) held by the charity should be maintained at between 2 and 3 months of normal committed church expenditure (which equates to approximately £28-40K). The reserves policy includes green, amber and red action levels if cash flow falls below 2 and 1 months normal committed church expenditure. The Charity operates a Vision Fund, which is designated for strategic initiatives that would help grow the church. If it became necessary, these funds could be
Page 3
used to cover the charity’s operating expenses and so they are considered to form part of free reserves. At the year-end the charity held unrestricted net current assets of £85,162.
## **Risk statement**
The Directors have reviewed the risks to which a small charity operating with few employees is exposed. Appropriate procedures are in place to identify, monitor and review these risks on a regular basis.
During the pandemic we have been operating a risk assessment policy which has been specifically adapted to take into consideration risks linked to Covid-19 infections.
## **Plans for the future**
We remain committed to growth. However, our current focus is on supporting our members pastorally throughout the pandemic and aim to see community life restored as much as possible.
We aim to rent or purchase a community facility for use as a church hub and office space. In the future we would look to rent or purchase a Sunday meeting space.
In partnership with Advance Movement (Charity number 1180592) we are exploring supporting and developing new church communities / congregations in the UK and beyond. We aim to continue to support and develop work in the area of social justice in support of our charitable aims.
## **Responsibilities of directors under company law**
The directors are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing these financial statements, the directors are required to:
1. select suitable accounting policies and apply them consistently;
2. observe the methods and principles in the Charities SORP;
3. make judgements and estimates that are reasonable and prudent;
4. state whether the applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
5. prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 4
## **Approval**
This report, which has been prepared in accordance with the provisions of the Companies Act 2006 relating to small companies, was approved by the trustees and signed on their behalf by:
H Kellett
Dated: 20 September 2021
Page 5
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF**
## **GODFIRST CHURCH CHELTENHAM ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2020 on pages 7 to 16 following, which have been prepared on the basis of the accounting policies set out on pages 9 and 10.
## **Responsibilities and basis of report**
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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.
Lourens du Plessis ACA CA(SA) Stewardship 1 Lamb's Passage London EC1Y 8AB
21 September 2021
Page 6
## **GODFIRST CHURCH CHELTENHAM**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## **FOR THE YEAR ENDED 31 DECEMBER 2020**
|Note
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
3
Charitable activities
4
Investments
5
**Total income and endowments**
**EXPENDITURE ON:**
Charitable activities:
6
**Total expenditure**
**Net income/(expenditure)**
**Transfers between funds**
13
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
13|Unrestricted
Funds
£
210,759
1,950
69
212,777
171,607
171,607
41,170
-
41,170
54,404
95,573|Restricted
Funds
£
8,619
-
-
8,619
18,601
18,601
(9,982)
-
(9,982)
12,044
2,062|Total
Funds
2020
£
219,378
1,950
69
221,396
190,208
190,208
31,188
-
31,188
66,448
97,636|Total
Funds
2019
£
206,368
10,365
80|
|---|---|---|---|---|
|||||216,813|
|||||200,246|
|||||200,246|
||||||
|||||16,567
-|
|||||16,567
49,880|
|||||66,448|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing operations.
The statement of financial activities also complies with the requirements for an income and expenditure account required by the Companies Act 2006.
The notes on pages 9 to 16 form part of these accounts.
Page 7
## **GODFIRST CHURCH CHELTENHAM**
## **BALANCE SHEET**
## **FOR THE YEAR ENDED 31 DECEMBER 2020**
|Unrestricted
Funds
Note
£
**FIXED ASSETS**
Tangible assets
8
6,431
**CURRENT ASSETS**
Debtors
9
34,099
Cash at bank and in hand
10
83,342
117,440
**CREDITORS: Amounts falling**
**due within one year**
11
28,298
**Net current assets / (liabilities)**
89,142
**TOTAL NET ASSETS**
95,574
**FUND BALANCES**
13
Unrestricted Funds
General funds
24,602
Designated funds
70,971
95,573
Restricted Funds
-
95,573|Restricted
Funds
£
-
-
2,062
2,062
-
2,062
2,062
-
-
-
2,062
2,062|Total
Funds
2020
£
6,431
34,099
85,404
119,502
28,298
91,205
97,636
24,602
70,971
95,573
2,062
97,636|Total
Funds
2019
£
5,406|
|---|---|---|---|
||||14,885
66,398|
||||81,283
20,241|
||||61,042|
||||66,448|
||||3,109
51,295|
||||54,404
12,044|
||||66,448|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006 however, in accordance with Section 145 of the Charities Act 2011, the accounts have been examined by an independent examiner and their report has been included in these financial statements.
The directors (who are the charitable company's trustees for the purposes of charity law) acknowledge their responsibilities for:
- (a) ensuring that the charitable company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its net income or expenditure for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
The financial statements were approved by the Board of Directors and were signed on its behalf by:
H Kellett
DATE: 20 September 2021
Company number: 08090929
Charity number: 1148222
The notes on pages 9 to 16 form part of these accounts.
Page 8
## **GODFIRST CHURCH CHELTENHAM**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2020**
## **1 Statutory Information**
The charity is a charitable company limited by guarantee and is incorporated in the United Kingdom. The company's registered number and registered office address can be found on the Company Information page.
## **2 Accounting Policies**
These financial statements are prepared on a going concern basis, under the historical cost convention.
These financial statements have been prepared in accordance with the "Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102"), with the Companies Act 2006 and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.
The principles adopted in the preparation of the financial statements are set out below.
## a) Going concern
The trustees (who are the charitable company's directors for the purposes of company law) have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. In making this assessment the trustees have considered the impact of Covid-19 and have concluded that its impact on net income will not be material.The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.
In making this assessment the trustees have considered the impact of Covid-19 and have concluded that its impact on net income will not be material.
## b) Income
Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.
Income from donations and legacies includes recoverable gift aid, which is recognised when the related donation is received. Gift aid that has not been recovered by the balance sheet date is included as a debtor.
The charity relies on volunteers to carry out many of its activities, however, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.
Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity's charitable objects. It includes income from church courses and other events and courses.
Investment income represents income generated by the charity's assets and comprises bank interest.
## c) Expenditure
Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.
The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.
Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.
## d) Fund accounting
- General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.
Page 9
## **GODFIRST CHURCH CHELTENHAM**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2020**
## **2 Accounting Policies continued**
## e) Tangible fixed assets
Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £900 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective the following rates of depreciation are charged:
Freehold land Is not depreciated (because it is not consumed by use) Freehold buildings Over 50 years after taking account of the building's residual value Equipment Over 3 to 7 years
The carrying values of tangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate that the carrying value may not be recoverable.
## f) Pension scheme arrangements
The charity operates defined contribution pension schemes for its employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds.
## g) Taxation
The company is a registered charity; it has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.
## h) Financial instruments
The charity's financial assets and financial liabilities all qualify as basic financial instruments, as defined by FRS102. Creditors and debtors are measured at their expected settlement value (normally the amount of cash that the charity expects to pay or receive).
## i) Exemption from preparing a cashflow statement
The charity has taken advantage of an exemption conferred by the Charities SORP and has not prepared a cash flow
j) Critical accounting estimates and areas of judgement The trustees do not consider that there any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period.
## **3 Donations and legacies**
|**Donations and legacies**|||||
|---|---|---|---|---|
|Donations of cash and similar
Income tax recoverable
**Income from charitable activities**
Church courses and events
**Investment income**
Bank interest|Unrestricted
Funds
£
172,396
38,363
210,759
Unrestricted
Funds
£
1,950
1,950
Unrestricted
Funds
£
69
69|Restricted
Funds
£
7,444
1,175
8,619
Restricted
Funds
£
-
-
Restricted
Funds
£
-
-|Total
2020
£
179,840
39,538
219,378
Total
2020
£
1,950
1,950
Total
2020
£
69
69|Total
2019
£
171,763
34,604|
|||||206,368|
|||||Total
2019
£
10,365|
|||||10,365|
|||||Total
2019
£
31|
|||||31|
## **4 Income from charitable activities**
- **5 Investment income**
Page 10
**6 Charitable expenditure**
## **GODFIRST CHURCH CHELTENHAM**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2020**
|**a**
**Costs incurred directly on specific activities**
Employment related
Staff costs
Conferences and training
Advertising
Church activities
Venue Hire
Guest speakers
Grants payable
Note 6c
**b**
**Costs incurred on support & administration**
Independent examiner's fee for
preparing and examining the accounts
Office costs, including equipment
Depreciation of tangible fixed assets
Insurance
**Total expenditure**
**c**
**Grants payable**
Missionary support
Relief of poverty
The comparatives for the previous year are as follows:
Missionary support
Relief of poverty
The charity's principal grants to institutions comprised:
Advance Movement UK
Gods Tribe Church Tanzania
Speak Life
Family Space
Foundation Church
Teens in Crisis
Reconciliation Road
Cheltenham Foodbank
Grants to institutions for less than £1,000 each|Unrestricted
Funds
£
110,969
2,696
2,754
3,440
8,173
7,533
300
23,703
159,711
1,860
7,337
2,127
573
11,897
171,607|Restricted
Funds
£
-
-
-
-
13,806
-
-
4,795
18,601
-
-
-
-
-
18,601
Institutions
£
20,471
5,416
25,887
Institutions
£
15,878
3,225
19,103|Total
2020
£
110,969
2,696
2,754
3,440
21,978
7,533
300
28,498
178,311
1,860
7,337
2,127
573
11,897
190,208
Individuals
£
-
2,610
2,610
Individuals
£
147
500
647
2020
£
11,400
6,000
-
2,727
-
2,689
1,829
1,000
242
25,887|Total
2019
£
110,310
5,837
7,286
4,474
22,233
20,680
650
19,750|
|---|---|---|---|---|
|||||191,219|
|||||1,380
5,670
1,497
481|
|||||9,027|
|||||200,246|
|||||2020
£
20,471
8,027|
|||||28,498|
|||||2019
£
19,250
500|
|||||19,750|
|||||2019
£
7,178
3,600
1,200
1,525
2,000
1,700
1,000
-
900|
|||||19,103|
Page 11
## **GODFIRST CHURCH CHELTENHAM**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2020**
## **7 Analysis of staff costs, the cost of key management personnel and trustee remuneration and expenses**
|Gross wages and salaries
Employer's national insurance contributions
Employer's pension contributions|2020
£
100,842
4,344
5,783
110,969|2019
£
99,221
5,013
6,077|
|---|---|---|
|||110,310|
The average number of employees during the year was 5 (2019: 6), this equates to FTE 2.6 (2019: 3.2). Most of the charity's activities are carried out by volunteers.
No staff received salaries at a rate of more than £60,000 per annum (2019:none).
The charity's key management comprise the trustees and the key staff named on the Company Information page. Total employment benefits payable to key management for the year were as follows:
|Employer
Wages &
pension
salaries
contributions
Trustees:
Howard Kellett
43,934
4,101
Other members of key management
34,245
1,478
following amounts were charged in the previous year:
Employer
Wages &
pension
salaries
contributions
Trustees:
Howard Kellett
42,970
4,101
Other members of key management
32,250
1,600|2020
£
48,035
35,723|
|---|---|
||83,759|
||2019
£
47,071
33,850|
||80,921|
The following amounts were charged in the previous year:
Howard Kellett served as a church leader and received the above payments for serving in that capacity, not for serving as a trustee; these payments are permitted by the charity's governing document.
In addition, the charity made a loan of £10,441 to another member of key management to fund an application for renewal of an employment visa. This loan is due to be repaid during the 2021 financial year.
## **8 Tangible fixed assets**
|**Tangible fixed assets**|||
|---|---|---|
|Cost
At 1 January 2020
Additions
At 31 December 2020
Accumulated depreciation
At 1 January 2020
Charge for the year
At 31 December 2020
Net book value
At 31 December 2020
At 31 December 2019|Musical
equipment
£
7,483
3,152
10,634
2,076
2,127
4,203
6,431
5,406|Total
2020
£
7,483
3,152|
|||10,634|
|||2,076
2,127|
|||4,203|
|||6,431|
|||5,406|
Page 12
## **GODFIRST CHURCH CHELTENHAM**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2020**
## **9 Debtors**
|**tors**|||
|---|---|---|
|Gift aid tax recoverable
Other debtors
**h at Bank and in Hand**
Cash at bank with immediate access
Notice deposits (with a term of three months or less)
**ditors: liabilities falling due within one year**
Taxation and social security
Other creditors
Accruals
Grant obligations|2020
£
15,379
18,719
34,099
2020
£
28,016
57,388
85,404
2020
£
2,559
4,679
1,860
19,200
28,298|2019
£
14,395
490|
|||14,885|
|||2019
£
19,587
46,810|
|||66,398|
|||2019
£
2,554
750
3,736
13,200|
|||20,241|
## **10 Cash at Bank and in Hand**
## **11 Creditors: liabilities falling due within one year**
## **12 Pension commitments**
During the year employer’s pension contributions totalling £5,783 (2019: £6,077) were payable to defined contribution personal pension schemes. Pension contributions totalling £341 (2019: £684) were owed at the balance sheet date.
## **13 Funds**
During the year the movements in the charity's funds were as follows:
|_Designated Funds_
Vision Fund
_General Unrestricted Funds_
Total Unrestricted Funds
_Restricted Funds_
Hardship
Mission
Nepal
Family Space
Barry Church
Aggregate of funds|Opening
balance
2020
£
51,295
3,109
54,404
30
577
-
-
11,437
12,044
66,448|Incoming
resources
2020
£
29,127
183,650
212,777
2,907
-
1,858
975
2,880
8,619
221,396|Outgoing
resources
2020
£
(9,451)
(162,156)
(171,607)
(2,610)
-
(1,858)
(327)
(13,806)
(18,601)
(190,208)|Transfers
in the year
2020
£
-
-
-
-
-
-
-
-
-
-|Closing
balance
2020
£
70,971
24,603|
|---|---|---|---|---|---|
||||||95,573|
||||||327
577
-
648
511|
||||||2,062|
||||||97,636|
Page 13
## **GODFIRST CHURCH CHELTENHAM**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Analysis of net assets by fund**
The assets and liabilities of the various funds were as follows:
|Fixed assets
Debtors
Cash at bank and in hand
Current liabilities|General
Designated
funds
funds
£
£
6,431
-
34,099
-
12,370
70,971
(28,298)
-
24,602
70,971
Unrestricted Funds|Restricted
funds
£
-
-
2,062
-
2,062|2020
£
6,431
34,099
85,404
(28,298)|
|---|---|---|---|
||||97,636|
## **13 Funds continued**
In the previous year the movements in the charity's funds were as follows:
|_Designated Funds_
Vision Fund
_General Unrestricted Funds_
Total Unrestricted Funds
_Restricted Funds_
Hardship
Mission
Nepal
Family Space
Barry Church
Aggregate of funds|Opening
balance
2019
£
33,219
16,661
49,880
-
-
-
-
-
-
49,880|Incoming
resources
2019
£
18,576
177,970
196,546
530
4,755
-
-
14,982
20,267
216,813|Outgoing
resources
2019
£
(500)
(191,523)
(173,097)
(500)
(4,178)
-
-
(3,545)
(8,223)
(200,246)|Transfers
in the year
2019
£
-
-
-
-
-
-
-
-
-
-|Closing
balance
2019
£
51,295
3,109|
|---|---|---|---|---|---|
||||||54,404|
||||||30
577
-
-
11,437|
||||||12,044|
||||||66,448|
## _**Analysis of net assets by fund**_
In the previous year the assets and liabilities of the various funds were as follows:
|Fixed assets
Debtors
Cash at bank and in hand
Current liabilities|General
Designated
funds
funds
£
£
5,406
-
14,885
-
3,059
51,295
(20,241)
-
3,109
51,295
Unrestricted Funds|Restricted
funds
£
-
-
12,044
-
12,044|2019
£
5,406
14,885
66,398
(20,241)|
|---|---|---|---|
||||66,448|
## _Designated funds_
The **Vision Fund** is represented by resources set aside by the trustees for projects that will help grow the church (e.g. new staff, new buildings and other strategic initiatives).
Page 14
## **GODFIRST CHURCH CHELTENHAM**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2020**
## _Restricted funds_
The **Advance Movement** fund was created from donations received to help support church planting by the Advancement Movement network; Godfirst Church Cheltenham belongs to this network.
The **Hardship** fund was created from donations received to help individuals in serious financial need.
The **Mission** fund was created by donations to a special offering taken to help support overseas mission.
The **Barry Church** fund was created from donations received to help support a new church plant in Barry. Since the year end the chuch plant in Barry has registered as a separate charity; in June 2020 the balance at that time on this restricted fund was paid out as a grant to the new charity.
The **Nepal** fund was created from donations received to support churches in Nepal which are part of the wider network of churches we belong to who have suffered with the impact of Covid with pastors and leaders in real poverty
The **Family Space** fund was created from donations received to support a local charity working with families led by a member of the church, and where a number volunteer at.
## **14 Transactions with related parties**
During the year the charity received donations totalling £28,791 (2019: £28,806) from related parties (which includes trustees, key management and anyone closely connected to them).
Except for the reimbursement of expenses incurred when acting as agent for the charity, or incurred when undertaking employment duties, no expenses were paid to (or for) the trustees.
Except as disclosed in note 7 'Analysis of staff costs', there have been no other transactions with related parties during the year.
## **15 Members**
Each member of the company commits to contribute if the charity is wound up an amount of £10.
Page 15
## **GODFIRST CHURCH CHELTENHAM**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES**
## **FOR THE YEAR ENDED 31 DECEMBER 2020**
|Note
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
3
Charitable activities
4
Investments
**Total income and endowments**
**EXPENDITURE ON:**
Charitable activities:
6
**Total Expenditure**
**Net income/(expenditure)**
**Transfers between funds**
13
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
13|2020
2019
£
£
181,632
167,600
1,950
10,365
69
5
183,650
177,970
162,156
191,523
162,156
191,523
21,494
(13,553)
-
-
21,494
(13,553)
3,109
16,661
24,603
3,109
Unrestricted Funds - General|2020
2019
£
£
29,127
18,501
-
-
-
75
29,127
18,576
9,451
500
9,451
500
19,676
18,076
-
-
19,676
18,076
51,295
33,219
70,971
51,295
Unrestricted Funds - Designated|2020
2019
£
£
8,619
20,267
-
-
-
-
8,619
20,267
18,601
8,223
18,601
8,223
(9,982)
12,044
-
-
(9,982)
12,044
12,044
-
2,062
12,044
Restricted Funds|Total
Funds
2020
£
219,378
1,950
69
221,396
190,208
190,208
31,188
-
31,188
66,448
97,636|Total
Funds
2019
£
206,368
10,365
80|
|---|---|---|---|---|---|
||||||216,813|
||||||200,246|
||||||200,246|
|||||||
||||||16,567
-|
||||||16,567
49,880|
||||||66,448|
Page 16