**Charity registration number 1153068**
**JUBILEE COMMUNITY CHURCH (EG) CIO ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **JUBILEE COMMUNITY CHURCH (EG) CIO**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|M E Harvey||
|---|---|---|
||H Baptist||
||N Down||
||C M Payne||
||F Straszynski|(Appointed 23 October 2023)|
||J B Holbrook|(Appointed 28 June 2023)|
||S J Gunter|(Appointed 28 June 2023)|
|**Charity number**|1153068||
|**Principal address**|Jubilee Community Centre||
||Charlwoods Road||
||East Grinstead||
||West Sussex||
||RH19 2HL||
|**Auditor**|Richard Place Dobson Services Limited||
||1-7 Station Road||
||Crawley||
||West Sussex||
||RH10 1HT||
|**Bankers**|Lloyds TSB Bank Limited||
||Commerical Banking Division||
||25 Gresham Street||
||London||
||EC2V 7HN||
|**Solicitors**|ASB Law||
||Innovis House.||
||108 High Street||
||Crawley||
||West Sussex||
||RH10 1AS||
**JUBILEE COMMUNITY CHURCH (EG) CIO**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees report|1 - 4|
|Statement of trustees responsibilities|5|
|Independent auditor's report|6 - 8|
|Statement of financial activities|9 - 10|
|Balance sheet|11|
|Statement of cash flows|12|
|Notes to the financial statements|13 - 27|
## **JUBILEE COMMUNITY CHURCH (EG) CIO**
## **TRUSTEES REPORT**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
The trustees present their annual report and financial statements for the year ended 31 August 2023.
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 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**
When approving the charity’s objectives the trustees are aware of the Charity Commission’s guidance on public benefit in The Advancement of Religion for the Public Benefit and have had regard to it in their administration of the charity.
The trustees believe that by further advancement of the Christian faith and by supporting chosen Christian or charitable institutions or work, the charity can provide a benefit to the public by:
- providing facilities for public worship and religious and secular education for both its members and the community;
- promoting the Christian faith in the UK and overseas, through services and other activities by its members, to the benefit of individuals and society as a whole; and
- providing relief for the poor and needy and help and comfort for the sick and aged.
## The Charity’s Primary Objects are:
To further the advancement of the Christian faith in the United Kingdom and overseas by
- Promoting religious or secular education to advance the Christian faith;
- Providing support to the community through the relief of the poor and needy, and the help and comfort of the sick and aged;
- Encouraging overseas activity designed to spread the Christian faith;
- Providing or assisting in the provision of facilities in the interests of social welfare for recreation or other leisure time, occupation of individuals in EG and the surrounding area who have need of such facilities by reason of their youth, age, infirmity or disability financial hardship or social circumstances with the object of improving their conditions of life;
- Furthering such charitable purposes for the benefit of the inhabitants of EG and the surrounding area and also the UK and globally as the trustees or members see fit from time to time.
## Principal Activities
- The management of all activities relating to the day to day operation of Jubilee Community Church, East Grinstead through both paid staff and volunteers
- The donation of funds to related Christian bodies and individuals both in the local community and in other nations to further the objects of the charity
Donations by the charity are made at the discretion of the elders in consultation with the trustees. These donations are usually based on relationship / affiliation rather than being made to unrelated third parties.
The charity is dependent upon a number of factors outside its control, which may adversely affect the achievement of its objectives:
- Contributions to the charity are all made on a voluntary basis. The CIO recovers tax through the gift aid scheme wherever possible. Total level of donations and the ability to recover tax may change over time.
- Income is also derived from room hire and leases, which is clearly dependent upon local demand for such facilities.
- Our overseas activities and youth ministry are in turn dependent upon sufficient funding being received by the charity, and would need to be prioritised if income was restricted.
1
## **JUBILEE COMMUNITY CHURCH (EG) CIO**
## **TRUSTEES REPORT (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
## **Achievements and performance**
## Activities
Attendance and membership at Jubilee Community Church during the last 12 months have continued to be strong. We see in excess of 400 people (of whom 300 are adults) regularly participating in church activities and contributing to the life of the church. Alongside Christian discipleship and training, we actively encourage involvement in one of the many teams across the church and are pleased to see around 55% of our adult membership engaged in this way.
Our aim is to reach out to individuals and families within the community with whom we would otherwise have no contact. To that end we run kids’ clubs and other family events to supplement our Sunday work. We also continue our work amongst the town’s youth, through Sunday and mid-week meetings, trips, summer camps and weekly open youth groups. We continue to see strong numbers of over 65’s at events focused on the needs of our older members and contacts. This includes social times, study groups and short matt bowls. These activities are all enhanced by the availability of the centre facilities.
Our initiative, the Jubilee Hub, which was established in 2018 continues to flourish. The Jubilee Hub is a day time social gathering aimed specifically at those who struggle to connect with community. The Hub provides a fantastic opportunity for friendship building and support, especially for those adults with additional needs. We have also worked hard at our inclusion policy and to this end have included this focus within a staffing role.
We continue to encourage volunteering in broader community activities through our ‘Jubilee Initiative’ which includes Spurgeon’s (Family and Childrens charity), Foodbank, Zambia street life (An orphanage) and a Uganda water project. We also devote significant resources to the spread of the Christian gospel overseas, primarily working with church partners in other nations to assist with further church planting, the development of leaders and compassionate works amongst the poor.
As at the end of current the financial year, the Jubilee Community Centre will have been open for over twelve years, and continues to fulfil the vision for which it was developed. We see approximately 2,500-3,000 people using the centre on a weekly basis.
## Staffing & Volunteers
The charity employs 19 staff, including three of the church’s senior leadership team, one 0-18s co-ordinators, a centre manager, caretaker, finance manager, two church administrators and two part time receptionists to assist with the running of the community centre.
The church is also heavily dependent on volunteers who freely give their time to enable many of the charitable activities and church ministries to take place. However, we remain delighted at the large number of individuals who do support the charity in this manner.
2
## **JUBILEE COMMUNITY CHURCH (EG) CIO**
## **TRUSTEES REPORT (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
## **Financial review**
The charity received total income of £657,235 during the year ended 31 August 2023. This compares to £648,193 during the previous year.
Income included £63,319 tax refunded on giving under the Gift Aid Scheme and lease and rental income of £149,144 from the Jubilee Community Centre. The vast majority of the remaining income was received from members of Jubilee Community Church on a voluntary basis.
Of the total revenue expenditure of £699,510, £304,981 (44%) related to staff costs, £93,918 (14%) was granted to individuals or organisations external to Jubilee Community Church in pursuit of the objects of the charity, and the remaining 42% covered training and conference costs, building maintenance and other church administrative costs.
The charity suffered a deficit of £42,275 in the year, compared to a surplus of £66,149 in the previous year.
Net current assets at 31[st] August 2023 were £162,823 (2022: £230,103).
Reserves brought forward from 2022 totalled £2,929,665. These decreased to £2,887,390 by 31[st] August 2023 of which the majority was designated Building Funds tied up in the Jubilee Community Centre.
The reserves are divided between Restricted funds totalling £24,753 and Unrestricted funds totalling £2,862,637, of which £334,306 are General funds and £2,528,331 are Designated funds (primarily the Building Designated Fund), which is used for the maintenance and general running costs of the building throughout the year. The General Fund balance is managed to ensure that the charity holds the six months operating expenses as required under the Trustees’ risk management policy. At 31[st] August 2023, the General funds represented over 6 months unrestricted operating expenses. The church has significant expansion plans including development work in adjacent villages to East Grinstead.
## **Plans for future periods**
Our core objective remains to focus on activities that enable the spread of the Christian gospel through local church communities, both in the UK and overseas. We hope to see our membership and attendance grow further during the course of the next 12 months, with our focus on reaching all ages.
We will also continue to invest in the Jubilee Community Centre, in order to maximise the benefit to the local community, maximise our income and accelerate our debt repayment if income permits.
## **Structure, governance and management**
The trustees who served during the year and up to the date of signature of the financial statements were:
M E Harvey H Baptist I M Watt (Resigned 28 November 2022) N Down M J Berry (Resigned 27 November 2023) C M Payne P F Trathen-Harris (Resigned 24 April 2023) F Straszynski (Appointed 23 October 2023) J B Holbrook (Appointed 28 June 2023) S J Gunter (Appointed 28 June 2023)
3
## **JUBILEE COMMUNITY CHURCH (EG) CIO**
## **TRUSTEES REPORT (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
The charity was registered on 25 July 2013 and is governed by its constitution dated 25[th] July 2013 and amended on 5[th] January 2014.
The governing document provides for a minimum of three trustees, who must be members of Jubilee Community Church, East Grinstead, to administer and manage the charity constituted as a charitable incorporated organisation (CIO).
At every annual general meeting of the members of the CIO, subsequent to the first AGM, one-third of the charity trustees shall retire from office. They can then be reappointed or new trustees appointed.
The body of trustees works very closely with the senior leadership of Jubilee Community Church. Whilst upholding their legal responsibilities, the trustees look to the church leadership team for overall vision and direction.
Jubilee Community Church is affiliated to the ‘New Ground’ family of churches and the senior leadership of the church looks to certain other leaders in this wider community for personal and spiritual insight, as well as taking advice on governance structures and issues.
The trustees operate a child protection and vulnerable persons’ policy and perform routine risk assessments for all church activities. Health and safety consideration is given to staff and the public environments in which the church operates.
New trustees are provided with information on the charity's objectives, activities and recent financial position. They attend trustee meetings as an observer to enable them to understand their legal role and responsibilities
## **Risk Management**
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.
The trustees have a risk management strategy that comprises:
- an annual review of the risks that the CIO might face;
- the establishment of systems & procedures to mitigate those risks identified in the plan; and
- the implementation of procedures designed to minimise any potential impact on the CIO should those risks materialise.
A key element in the management of financial risk is the setting of a reserves policy and its regular review by the trustees. As a consequence of the purchase of the church building, the CIO has entered into a commercial loan agreement to fund the purchase and the trustees will not hold extensive cash reserves in current and deposit accounts that might otherwise offset borrowing. The CIO will, however, retain sufficient funds to cover three months’ operating expenses.
The trustees have taken the approach to preserve cash where possible and considered sensible to do so, whilst also balancing the church's aims and objectives to be generous where appropriate and provide for the poor.
The trustees report was approved by the Board of Trustees.
**Trustee**
**----- Start of picture text -----**
..............................
C M Payne
Trustee
**----- End of picture text -----**
4
## **JUBILEE COMMUNITY CHURCH (EG) CIO**
## **STATEMENT OF TRUSTEES RESPONSIBILITIES**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
The trustees 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).
The law applicable to charities in England and Wales 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 year.
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 operation.
The trustees are responsible for keeping sufficient 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 Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the charity's assets and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
5
## **JUBILEE COMMUNITY CHURCH (EG) CIO**
## **INDEPENDENT AUDITOR'S REPORT**
## **TO THE TRUSTEES OF JUBILEE COMMUNITY CHURCH (EG) CIO**
## **Opinion**
We have audited the financial statements of Jubilee Community Church (East Grinstead) the charitable incorporated organisation for the year ended 31 August 2023 which comprise of the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
- give a true and fair view of the state of the charity’s affairs as at 31 August 2023 and of its incoming resources and application of resources, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
- the information given in the financial statements is inconsistent in any material respect with the trustees report; or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records; or
- we have not received all the information and explanations we require for our audit.
6
## **JUBILEE COMMUNITY CHURCH (EG) CIO**
## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF JUBILEE COMMUNITY CHURCH (EG) CIO**
## **Responsibilities of trustees**
As explained more fully in the statement of trustees responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to cease operations, or have no realistic alternative but to do so.
## **Auditor's responsibilities for the audit of the financial statements**
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit.
In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatements due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit.
However it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity’s operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.
In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud, the audit engagement team made enquiries of management, and those charged with governance, regarding the procedures relating to identifying, evaluating and complying with;
1. laws and regulations and whether they were aware of any instances of non-compliance;
2. detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;
3. the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations;
As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102, General Data Protection Regulations, Charities Act 2011, Charities Statement of Recommended Practice and employment law and regulations. We performed audit procedures to detect non-compliance, which may have a material impact on the financial statements. These included reviewing financial statement disclosures and evaluating advice received from external advisors. There were no significant laws and regulations we deemed as having an indirect impact on the financial statements.
1. Revenue recognition - this was tested substantively for rental and lease income, we performed proof in total testing over grant income
2. Management override of controls - we reviewed management accounts and large journals to discover any evidence of management override
3. Valuation of freehold buildings - this has been tested by reviewing the depreciation calculations and the residual value assumptions made by the Trustee's to market data.
7
## **JUBILEE COMMUNITY CHURCH (EG) CIO**
## **INDEPENDENT AUDITOR'S REPORT (CONTINUED)**
## **TO THE TRUSTEES OF JUBILEE COMMUNITY CHURCH (EG) CIO**
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/ auditorsresponsibilities. This description forms part of our auditor's report.
## **Other matters**
## **Use of our report**
This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
## **Richard Place Dobson Services Limited**
01/02/2024 **Chartered Accountants** ......................... **1 - 7 Station Road** Date **Crawley West Sussex RH10 1HT**
is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
8
## **JUBILEE COMMUNITY CHURCH (EG) CIO**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
|**Current financial year**
**Unrestricted**
**Unrestricted**
**Restricted**
**funds**
**funds**
**funds**
**general**
**designated**
**2023**
**2023**
**2023**
**Notes**
**£**
**£**
**£**
**Income and endowments from:**
Donations and grants
**3**
396,671
-
24,621
Charitable activities
**4**
174,007
-
-
Other income
**5**
61,936
-
-
**Total income**
632,614
-
24,621
**Expenditure on:**
Charitable activities
**6**
592,664
-
106,846
**Net incoming/(outgoing) resources before**
**transfers**
39,950
-
(82,225)
Gross transfers between funds
(10,579)
2,130,548
(2,119,969)
**Net income/(expenditure) for the year/**
**Net movement in funds**
29,371
2,130,548
(2,202,194)
Fund balances at 1 September 2022
304,935
397,783
2,226,947
**Fund balances at 31 August 2023**
334,306
2,528,331
24,753|**Total**
**2023**
**£**
421,292
174,007
61,936
657,235
699,510
(42,275)
-
(42,275)
2,929,665
2,887,390|**Total**
**2022**
**£**
429,454
162,469
56,270|
|---|---|---|
|||648,193|
|||582,044|
|||66,149
-|
|||66,149
2,863,516|
|||2,929,665|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
9
## **JUBILEE COMMUNITY CHURCH (EG) CIO**
## **STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
|**Prior financial year**
**Unrestricted**
**Unrestricted**
**Restricted**
**funds**
**funds**
**funds**
**general**
**designated**
**2022**
**2022**
**2022**
**Notes**
**£**
**£**
**£**
**Income and endowments from:**
Donations and grants
**3**
379,598
-
49,856
Charitable activities
**4**
-
162,469
-
Other income
**5**
8,381
47,889
-
**Total income**
387,979
210,358
49,856
**Expenditure on:**
Charitable activities
**6**
382,796
72,936
126,312
**Net incoming/(outgoing) resources before transfers**
5,183
137,422
(76,456)
Gross transfers between funds
2,570
(2,570)
-
**Net income/(expenditure) for the year/**
**Net movement in funds**
7,753
134,852
(76,456)
Fund balances at 1 September 2021
297,182
262,931
2,303,403
**Fund balances at 31 August 2022**
304,935
397,783
2,226,947|**Total**
**2022**
**£**
429,454
162,469
56,270|
|---|---|
||648,193|
||582,044|
||66,149
-|
||66,149
2,863,516|
||2,929,665|
10
## **JUBILEE COMMUNITY CHURCH (EG) CIO**
## **BALANCE SHEET**
## _**AS AT 31 AUGUST 2023**_
|**Notes**
**Fixed assets**
Tangible assets
**11**
**Current assets**
Debtors
**12**
Cash at bank and in hand
**Creditors: amounts falling due within one**
**year**
**13**
Net current assets
**Total assets less current liabilities**
**Creditors: amounts falling due after more**
**than one year**
**14**
**Net assets**
**Income funds**
Restricted funds
**17**
Unrestricted funds
Designated funds
**18**
General unrestricted funds|**2023**
**£**
37,780
249,904
287,684
(124,861)
2,528,331
334,306|**£**
3,060,405
162,823
3,223,228
(335,838)
2,887,390
24,753
2,862,637
2,887,390|**2022**
**£**
54,143
313,426
367,569
(137,466)
397,783
304,935|**£**
3,101,984
230,103
3,332,087
(402,422)
2,929,665
2,226,947
702,718
2,929,665|
|---|---|---|---|---|
11
## **JUBILEE COMMUNITY CHURCH (EG) CIO**
## **STATEMENT OF CASH FLOWS**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
|**Notes**
**Cash flows from operating activities**
Cash generated from operations
**22**
**Investing activities**
Purchase of tangible fixed assets
**Net cash used in investing activities**
**Financing activities**
Repayment of bank loans
**Net cash used in financing activities**
**Net decrease in cash and cash equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at end of year**|**2023**
**£**
(13,256)
(70,313)|**£**
20,047
(13,256)
(70,313)
(63,522)
313,426
249,904|**2022**
**£**
(69,813)
(76,053)|**£**
137,991
(69,813)
(76,053)
(7,875)
321,301
313,426|
|---|---|---|---|---|
12
## **JUBILEE COMMUNITY CHURCH (EG) CIO**
## **NOTES TO THE FINANCIAL STATEMENTS**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
## **1 Accounting policies**
## **Charity information**
Jubilee Community Church (East Grinstead) is a Charitable Incorporated Organisation, registered with the Charity Commission for England and Wales (number 1153068), principal address as set out on page 2. The charity constitutes a public benefit entity as defined by FRS102.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the Charitable Incorporated Organisation (CIO) association constitution, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The CIO is a Public Benefit Entity as defined by FRS 102.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the CIO. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention in accordance with applicable UK accounting standards and follow the recommendations in Statement of Recommended Practice: Accounting and Reporting by Charities (SORP FRS102) effective 1st January 2019.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the CIO has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds arise from offerings, donations and other income generated for the objects of the charity without further specified purpose and available as general funds.
Restricted funds are to be used for the specific purposes as laid down by the donor and may not be used for any other purpose. The primary restricted fund held by the CIO is the Building Fund which is used as follows:
- To make improvements to the land and buildings at Jubilee Community Centre;
- To repay loans (and associated interest) used to finance the Jubilee Community Centre;
- To make repairs and other refurbishments required to make the Jubilee Community Centre fit for use by the church;
but not for the following:
- Routine maintenance arising from use of the Jubilee Community Centre
- Utilities.
Designated funds are unrestricted funds earmarked by the trustees for particular purposes.
13
## **JUBILEE COMMUNITY CHURCH (EG) CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
## **1 Accounting policies**
## **(Continued)**
## **1.4 Income**
Voluntary income received by way of donations, legacies and other gifts is included in full in the Statement of Financial Activities when received. Voluntary income received by way of grants is included in the Statement of Financial Activities when there is evidence of entitlement to the grant, receipt is probable, and its amount can be measured reliably.
Income from leases and short-term room hire is recognised over the period of the lease/hire.
Gift Aid is recognised as income in the same period as the donations to which it relates.
Other trading activities include things such as sales from the café, drinks sold at reception, income from the hub etc.
## **1.5 Expenditure**
Liabilities are recognised as expenditure as soon as:
- there is a legal or constructive obligation committing the charity to that expenditure,
- it is probable that settlement will be required, and
- the amount of the obligation can be measured reliably.
Support and governance costs, which include staff costs and legal and statutory costs incurred in running the Charity, are allocated to each charitable activity based on time spent on each activity. No support or governance costs are allocated to Ministry gifts.
## **1.6 Tangible fixed assets**
Freehold land and buildings are recognised at historic cost in the accounts. Cost includes the purchase price and related expenditure, together with the cost of the initial redevelopment of and subsequent improvements to the land and buildings.
Land is not depreciated. Buildings are depreciated, in order that the difference between their cost and estimated residual value is charged to the SOFA evenly over the estimated useful life of 40 years.
The residual value is estimated to be the current open market value, which is less than the historic cost. In the trustees’ judgement, the historic cost fairly represents the value of the land and buildings as a church and a community centre, whereas the market value represents the value of the land and buildings when they are no longer useful for this purpose.
All other assets with an acquisition cost exceeding £500 are capitalised at their original cost.
Donated assets are included in fixed assets at valuation at the date received, where the valuation exceeds £500. There were no additions for this year.
Depreciation is provided on equipment and furniture only at rates to write off the cost of each asset over its estimated useful life using the rates set out below.
|Freehold land and buildings|40 years|
|---|---|
|Building fixtures|10.0% p.a.|
|Music equipment|12.5% p.a.|
|Fixtures and fittings|25.0% p.a.|
|Computers|33.3% p.a.|
## **1.7 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## **1.8 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
14
## **JUBILEE COMMUNITY CHURCH (EG) CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
## **1 Accounting policies**
## **(Continued)**
## **1.9 Financial instruments**
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. This includes loans on commercial terms as described below. In addition, **cash at bank and in hand** is initially recorded and subsequently measured at face value, **trade debtors and trade creditors** are initially recorded at the transaction value, and subsequently measured at transaction value less payments on account, and in the case of trade debtors less any provision for impairment.
## **1.10 Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **1.11 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## **1.12 Employee benefits**
Employee benefits are recognised in the period to which they relate.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **1.13 VAT**
VAT is partially recoverable on building costs including the development and running of the Jubilee Community Centre. The recoverable VAT is calculated on a building usage basis as income generated from the leasing and rental of the building is vatable. The irrecoverable VAT is included within management and administration expenses in the Statement of Financial Activities.
## **1.14 Gifts and donations payable**
Gifts and donations are payable to other charities and good causes with which the charity is affiliated. The amount donated is at the discretion of the Church Elders and is recorded in the Statement of Financial Activities when paid.
## **1.15 Beneficial loans**
From time to time, the charity makes loans at below-market interest rates. These loans are made in order to further the charity’s objectives rather than to make a financial return. Similarly, the charity sometimes receives loans at belowmarket interest rates. These loans are made in order to further the lender’s charitable purposes rather than to make a financial return. Therefore all of these loans are valued at the amount paid or received by the charity, less any repayments, plus interest (if any) accrued on the loan, and further adjusted downwards if necessary for any impairment.
Loans on commercial terms are recorded in the balance sheet at the amount originally borrowed. Interest payable on such loans is charged to the SOFA based on the period to which it relates.
15
## **JUBILEE COMMUNITY CHURCH (EG) CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
## **2 Critical accounting estimates and judgements**
The preparation of financial statements requires the use of accounting estimates and assumptions by the trustees. It also requires trustees to exercise their judgement in the process of applying the accounting policies.
In the judgement of the trustees, the freehold land and buildings are held primarily for operational use by the charity. At present not all of the property has been developed to the charity’s requirements, and the undeveloped section is leased to a 3[rd] party. However, this is a short term measure pending the availability of funding for redevelopment, and this section of the property does not constitute an investment property.
The trustees' estimates of the useful life and residual value of the freehold land and buildings and the depreciation charged on these assets are an estimate based on the Trustee's best judgement.
## **3 Donations and grants**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**general**
**2023**
**2023**
**£**
**£**
Regular donations and
legacies
395,671
18,821
Grants
1,000
5,800
396,671
24,621
**Charitable activities**
Income from charitable activities|**Total**
Unrestricted
Restricted
Total
funds
funds
general
**2023**
2022
2022
2022
**£**
£
£
£
414,492
379,188
49,856
429,044
6,800
410
-
410
421,292
379,598
49,856
429,454
**Charitable**
**Activities**
**Income**
**Charitable**
**Activities**
**Income**
**2023**
**2022**
**£**
**£**
174,007
162,469|Total
2022
£
429,044
410|
|---|---|---|
|||429,454|
- **4 Charitable activities**
## **5 Other income**
|**Unrestricted**
Unrestricted
Unrestricted
**funds**
funds
funds
**general**
general
designated
**2023**
2022
2022
**£**
£
£
Other income
2,995
7,730
-
Investment income
58,941
651
47,889
61,936
8,381
47,889|Total
2022
£
7,730
48,540|
|---|---|
||56,270|
16
## **JUBILEE COMMUNITY CHURCH (EG) CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
## **6 Charitable activities**
|**Church**
**Ministry**
**2023**
**£**
Staff costs
85,106
Depreciation and
impairment
-
Staff costs
191
Photocopy, printing and
publishing
23
Supplies and stationary
1,001
Speakers
190
Conferences and training
2,546
Special events
17,174
Small equipment
585
Telephone and computer
costs
7,557
Travel and refreshments
2,297
Ministry gifts
-
Charitable giving
-
Direct New Ground Gifts
-
Utilities
-
Premises hire
1,261
117,931
Share of support costs (see
note 7)
24,120
Share of governance costs
(see note 7)
2,653
144,704
**Analysis by fund**
Unrestricted funds -
general
144,704
Unrestricted funds -
designated
-
Restricted funds
-
144,704|**Youth**
**Projects**
**2023**
**£**
91,230
-
-
77
12
-
250
35,609
-
90
-
-
-
-
-
-
127,268
26,029
2,863
156,160
148,456
-
7,704
156,160|**Gifts**
**Building**
**2023**
**2023**
**£**
**£**
-
96,963
-
54,835
-
1,787
-
-
-
908
-
6,112
-
120
-
604
-
-
-
2,251
-
19
88,693
-
5,225
-
-
-
-
58,497
-
8,875
93,918
230,971
19,208
47,239
2,113
5,197
115,239
283,407
98,637
200,867
-
-
16,602
82,540
115,239
283,407|**Total**
**2023**
**£**
273,299
54,835
1,978
100
1,921
6,302
2,916
53,387
585
9,898
2,316
88,693
5,225
-
58,497
10,136
570,088
116,596
12,826
699,510
592,664
-
106,846
699,510|**Total**
**2022**
**£**
211,649
50,916
-
177
2,699
790
1,834
32,051
5,921
12,081
3,651
65,153
4,531
10,000
29,161
22,867|
|---|---|---|---|---|
|||||453,481
121,866
6,697|
|||||582,044|
|||||382,796
72,936
126,312|
|||||582,044|
17
## **JUBILEE COMMUNITY CHURCH (EG) CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
## **6 Charitable activities**
**(Continued)**
**For the year ended 31 August 2022**
|**Church**
**Ministry**
**£**
Staff costs
64,426
Depreciation and impairment
-
Photocopy, printing and
publishing
-
Supplies and stationary
1,444
Speakers
790
Conferences and training
1,834
Special events
10,533
Small equipment
1,821
Telephone and computer costs
9,976
Travel and refreshments
3,651
Ministry gifts
-
Charitable giving
-
Direct New Ground Gifts
-
Utilities
-
Premises hire
11,507
105,982
Share of support costs (see
note 7)
44,877
Share of governance costs (see
note 7)
3,027
153,886
**Analysis by fund**
Unrestricted funds - general
153,886
Unrestricted funds -
designated
-
Restricted funds
-
153,886|**Youth**
**Projects**
**£**
55,052
-
132
-
-
-
19,823
-
-
-
-
-
-
-
-
75,007
28,264
1,887
105,158
98,803
-
6,355
105,158|**Gifts**
**Building**
**Jubilee**
**Community**
**Church Cafe**
**£**
**£**
**£**
-
92,171
-
-
50,916
-
-
45
-
-
1,255
-
-
-
-
-
-
-
-
-
1,695
-
4,100
-
-
2,105
-
-
-
-
65,153
-
-
4,531
-
-
10,000
-
-
-
29,161
-
-
11,360
-
79,684
191,113
1,695
-
48,027
698
-
1,736
47
79,684
240,876
2,440
36,753
90,914
2,440
-
72,936
-
42,931
77,026
-
79,684
240,876
2,440|**Total**
**2022**
**£**
211,649
50,916
177
2,699
790
1,834
32,051
5,921
12,081
3,651
65,153
4,531
10,000
29,161
22,867|
|---|---|---|---|
||||453,481
121,866
6,697|
||||582,044|
||||382,796
72,936
126,312|
||||582,044|
18
## **JUBILEE COMMUNITY CHURCH (EG) CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
## **7 Support costs**
|**Support costs**
**Governance**
**costs**
**£**
**£**
Staff costs
31,682
-
Bank charges
2,928
-
Mortgage and bank loan
interest
28,892
-
Insurance
12,563
-
Interest
-
-
Sundry expenses
659
-
Bad debt
1
-
Building maintenance
39,871
-
Audit fees
-
7,500
Accountancy
-
5,326
Legal and professional
-
-
116,596
12,826
Analysed between
Charitable activities
116,596
12,826|**2023 Support costs**
**Governance**
**costs**
**£**
**£**
**£**
31,682
55,932
-
2,928
2,902
-
28,892
15,128
-
12,563
10,078
-
-
353
-
659
577
-
1
-
-
39,871
36,896
-
7,500
-
5,900
5,326
-
737
-
-
60
129,422
121,866
6,697
129,422
121,866
6,697|**2022**
**£**
55,932
2,902
15,128
10,078
353
577
-
36,896
5,900
737
60|
|---|---|---|
|||128,563|
|||128,563|
Governance costs includes payments to the auditors of £7,500 (2022- £5,900) for audit fees.
## **8 Trustees**
No trustee received any remuneration for their duties as a trustee or for any other services provided to the CIO other than:
Mrs Hannah Baptist is employed as Head of Administration & Logistics. During the year ending 31[st] August 2023 she received salary payments and pension contributions totalling £17,493 (2022 - £26,643). Mrs Baptist’s husband, Daniel Baptist, is also employed as Lead Pastor. During the year ending 31[st] August 2023 he received salary payments and pension contributions totalling £48,298 (2022 - £45,205).
Mrs Pauline Trathen-Harris was employed as Finance Manager/Administrator and during the year ending 31 August 2023 received salary payments and pension contributions totalling £10,891 (2022 - £15,460).
Mr Nathan Down’s wife, Natalie Down, is employed as Pastoral and Communications Administrator. During the year ending 31 August 2023 she received salary payments and pension contributions totalling £14,396 (2022 - £11,888).
No trustee received any expenses.
## **9 Employees**
The average monthly number of employees during the year was:
|**2023**|**2022**|
|---|---|
|**Number**|**Number**|
|22|19|
19
## **JUBILEE COMMUNITY CHURCH (EG) CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
|**9**
**Employees**
**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**(Continued)**
**2023**
**2022**
**£**
**£**
277,078
243,782
20,703
17,184
7,200
6,615
304,981
267,581|**(Continued)**
**2023**
**2022**
**£**
**£**
277,078
243,782
20,703
17,184
7,200
6,615
304,981
267,581|
|---|---|---|
|||267,581|
## **Key Management Personnel**
The trustees consider four members of staff to be key management personnel. The total employment benefits of key management personnel were £118,127 (2022: £109,799).
There were no employees whose annual remuneration was more than £60,000.
## **10 Taxation**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
20
## **JUBILEE COMMUNITY CHURCH (EG) CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
## **11 Tangible fixed assets**
|**Freehold land**
**and buildings**
**Building fixtures**
**£**
**£**
**Cost**
At 1 September 2022
3,197,681
265,212
Additions
-
1,632
At 31 August 2023
3,197,681
266,844
**Depreciation and impairment**
At 1 September 2022
204,907
183,379
Depreciation charged in the year
31,717
13,451
At 31 August 2023
236,624
196,830
**Carrying amount**
At 31 August 2023
2,961,057
70,014
At 31 August 2022
2,992,774
81,832|**Music**
**equipment**
**Fixtures and**
**fittings**
**£**
**£**
70,361
83,084
9,882
1,742
80,243
84,826
69,436
59,567
935
6,278
70,371
65,845
9,872
18,981
925
23,518|**Computers**
**£**
33,612
-
33,612
30,677
2,454
33,131
481
2,935|**Total**
**£**
3,649,950
13,256|
|---|---|---|---|
||||3,663,206|
||||547,966
54,835|
||||602,801|
||||3,060,405|
||||3,101,984|
21
## **JUBILEE COMMUNITY CHURCH (EG) CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
|**12**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Other debtors
Prepayments and accrued income
**13**
**Creditors: amounts falling due within one year**
**Notes**
Bank loans
**15**
Other taxation and social security
Deferred income
**16**
Trade creditors
Other creditors
Accruals
**14**
**Creditors: amounts falling due after more than one year**
**Notes**
Bank loans
**15**
**15**
**Loans and overdrafts**
Bank loans
Payable within one year
Payable after one year|**2023**
**£**
16,271
16,802
4,707
37,780
**2023**
**£**
73,739
12,949
3,750
3,118
4,199
27,106
124,861
**2023**
**£**
335,838
**2023**
**£**
409,577
73,739
335,838|**2022**
**£**
15,802
27,508
10,833|
|---|---|---|
|||54,143|
|||**2022**
**£**
77,468
18,765
-
21,182
10,041
10,010|
|||137,466|
|||**2022**
**£**
402,422|
|||**2022**
**£**
479,890|
|||77,468
402,422|
The terms of repayment for both the mortgage and loan are monthly instalments starting one month from the date the funds were borrowed, and the mortgage and bank loan are secured on the land and buildings at Unit 1, Charlwoods Road, East Grinstead (see note 5). Interest is payable at the Bank of England base rate plus 1.75%.
22
## **JUBILEE COMMUNITY CHURCH (EG) CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
## **16 Deferred income**
|Arising from deferred rental income
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities
Movements in the year:
Deferred income at 1 September 2022
Resources deferred in the year
Deferred income at 31 August 2023|**2023**
**£**
3,750
**2023**
**£**
3,750
-
3,750
3,750|**2022**
**£**
-|
|---|---|---|
|||**2022**
**£**
-|
|||-
-|
|||-|
23
## **JUBILEE COMMUNITY CHURCH (EG) CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
## **17 Restricted funds**
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
|**Balance at**
**1 September**
**2021**
**£**
Building
2,260,900
Changing Places
27,813
Jubilee Initiatives Fund
12,039
Mid-Sussex District Council
2,620
Papua New Guinea Appeal
31
Christians Against Poverty (CAP)
-
2,303,403|**Movement in funds**
**Incoming**
**resources**
**Resources**
**expended**
**Balance at**
**1 September**
**2022**
**£**
**£**
**£**
-
(77,025)
2,183,875
-
-
27,813
29,526
(48,686)
(7,122)
-
-
2,620
-
-
31
20,330
(600)
19,730
49,856
(126,311)
2,226,947|**Movement in funds**
**Incoming**
**resources**
**Resources**
**expended**
**Transfers**
**Balance at**
**31 August 2023**
**£**
**£**
**£**
**£**
2,650
(82,540)
(2,103,985)
-
-
-
(27,813)
-
9,275
(16,602)
14,449
-
-
-
(2,620)
-
-
-
-
31
12,696
(7,704)
-
24,722
24,621
(106,846)
(2,119,969)
24,753|**Movement in funds**
**Incoming**
**resources**
**Resources**
**expended**
**Transfers**
**Balance at**
**31 August 2023**
**£**
**£**
**£**
**£**
2,650
(82,540)
(2,103,985)
-
-
-
(27,813)
-
9,275
(16,602)
14,449
-
-
-
(2,620)
-
-
-
-
31
12,696
(7,704)
-
24,722
24,621
(106,846)
(2,119,969)
24,753|
|---|---|---|---|
||||24,753|
The Building Fund relates to monies donated specifically to support the purchase or improvement of the Jubilee Community Centre, all income in relation to the building has been spent so the balance of the funds have been transferred to the unrestricted designated fund. The unrestricted designated fund is used for running costs and related staff costs as well as mortgage repayments.
The Changing Places Fund - The Changing Places Consortium launched its campaign in 2006 on behalf of the over 1/4 of a million people who cannot use standard accessible toilets. This includes people with profound and multiple learning disabilities, motor neurone disease, multiple sclerosis, cerebral palsy, as well as older people. Jubilee Community Church (East Grinstead) started a campaign to raise grants and donations to provide a Changing Places Toilet within its facilities. This new facility was opened in October 2017.
The Jubilee Fund relates to a specific group of 3[rd] Party charities that we support on a regular basis. Transfers into this fund are made from the general fund or given specifically by members (in which case the funds are restricted).
The Christians Against Poverty Fund relates to the adoption of the local CAP Debt Centre in July 2022, which aims to provide crisis and preventative support for those in financial need. All funds received and spent are restricted.
24
## **JUBILEE COMMUNITY CHURCH (EG) CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
## **18 Designated funds**
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:
|**Balance at**
**1 September**
**2021**
**£**
Building
261,681
Jubilee Fund
1,250
262,931|**Movement in funds**
**Incoming**
**resources**
**Resources**
**expended**
**Balance at**
**1 September**
**2022**
**£**
**£**
**£**
210,358
(75,506)
396,533
-
-
1,250
210,358
(75,506)
397,783|**Transfers**
**Balance at**
**31 August 2023**
**£**
**£**
2,131,798
2,528,331
(1,250)
-
2,130,548
2,528,331|**Transfers**
**Balance at**
**31 August 2023**
**£**
**£**
2,131,798
2,528,331
(1,250)
-
2,130,548
2,528,331|
|---|---|---|---|
||||2,528,331|
The purposes of the fund balances are explained within the movement on restricted funds note.
25
## **JUBILEE COMMUNITY CHURCH (EG) CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
## **19 Analysis of net assets between funds**
|**Unrestricted**
**funds**
**Designated**
**funds**
**Restricted**
**funds**
**2023**
**2023**
**2023**
**£**
**£**
**£**
Fund balances at 31 August 2023 are represented by:
Tangible assets
532,074
2,528,331
-
Current assets/(liabilities)
138,070
-
24,753
Long term liabilities
(335,838)
-
-
334,306
2,528,331
24,753|**Total**
**Unrestricted**
**funds**
**Designated**
**funds**
**Restricted**
**funds**
**2023**
**2022**
**2022**
**2022**
**£**
**£**
**£**
**£**
3,060,405
27,378
446,696
2,627,910
162,823
228,644
-
1,459
(335,838)
48,913
(48,913)
(402,422)
2,887,390
304,935
397,783
2,226,947|**Total**
**2022**
**£**
3,101,984
230,103
(402,422)
2,929,665|
|---|---|---|
26
## **JUBILEE COMMUNITY CHURCH (EG) CIO**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
|**20**|**Capital commitments**|**2023**|**2022**|
|---|---|---|---|
|||**£**|**£**|
||At 31 August 2023 the charity had capital commitments as follows:|||
||Authorised and contracted for|2,665|-|
Prior to 31 August 2023, Jubilee Community Church entered into a contract for Audio visual upgrades. During the year ended 31 August 2023 the church paid a deposit for the equipment of £8,924. The above commitment represents the balance of the total contract sum.
## **21 Related party transactions**
There were no disclosable related party transactions during the year (2022 - none).
|**22**|**Cash generated from operations**||**2023**|**2022**|
|---|---|---|---|---|
||||**£**|**£**|
||(Deficit)/surpus for the year||(42,275)|66,149|
||Adjustments for:||||
||Depreciation and impairment of tangible fixed assets||54,835|50,916|
||Movements in working capital:||||
||Decrease in debtors||16,363|1,787|
||(Decrease)/increase in creditors||(12,626)|19,139|
||Increase in deferred income||3,750|-|
||**Cash generated from operations**||20,047|137,991|
|**23**|**Analysis of changes in net (debt)/funds**||||
|||**At 1 September**|**Cash flows At 31 August 2023**||
|||**2022**|||
|||**£**|**£**|**£**|
||Cash at bank and in hand|313,426|(63,522)|249,904|
||Loans falling due within one year|(77,468)|3,729|(73,739)|
||Loans falling due after more than one year|(402,422)|66,584|(335,838)|
|||(166,464)|6,791|(159,673)|
27