8696063
Grace Church Brockley (A company limited by guarantee)
Report and Financial Statements For the year ending 31 August 2023
Charity number 1154174 Company number 8696063
Grace Church Brockley (a company limited by guarantee)
Financial Statements for the year ended 31 August 2023
| Contents | Page |
|---|---|
| Reference and Administrative Information | 2 |
| Report of the Directors | 3 |
| Report of the Independent Examiner | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Notes forming part of the Financial Statements | 10 |
Page 1
Grace Church Brockley (a company limited by guarantee)
Reference and administrative information
Charity name: Grace Church Brockley Charity registration number: 1154174 Company registration number: 8696063 Registered Office 37 Pragnell Road London SE12 0LF
Directors of the Company and Trustees for the purpose of Charity Law Mr S Abrams Elder & Chair Mr R Honeysett Elder Mr R Srinivasan Elder (resigned 3 May 2023) Mr K Sarpong Treasurer
In addition to the above, all of whom were members of the Church Council, the following were members of the Church Council but not Directors or Trustees:
Mrs M Lee Deacon Mr K Sarpong Deacon Mr A Widgery Deacon Mrs Ruth Mulvenna Deacon
Independent Examiner
Ajay Rajani FCIE, Stewardship, 1 Lamb’s passage, London EC1Y 8AB
Bankers
CAF Bank Ltd, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent. ME19 4JQ
Page 2
Grace Church Brockley (a company limited by guarantee)
Report of the Directors for the year ended 31 August 2023
An introduction to Grace Church Brockley
Grace Church Brockley is an independent evangelical church which meets in different locations around the Brockley area of South London. The members of the church include people of all ages, races and backgrounds. What unites us is a commitment to know Jesus and to make Him known to others. Visitors are always welcome, particularly those investigating the claims of Jesus, or looking for a church family to make their own.
What sort of church are we?
We are Christian – that is we follow the Lord Jesus Christ. We believe that although in the past God has spoken through the Old Testament prophets and writers, the supreme revelation of God is through His son Jesus (Hebrews 1 v2). Jesus alone provides salvation from the guilt, penalty, power and presence of sin though His perfect life and His death on the cross, where He took the punishment that we deserve. We believe that there is no other way to escape God’s judgement on human sin than to trust in Jesus.
We are evangelical – that is we believe that the Bible is breathed out by God, and is true, infallible and trustworthy. The Bible is a plain book with a straightforward message of salvation through Jesus Christ, and we believe that Christians must submit to its supreme authority.
These are mainstream orthodox Christian doctrines, which the vast majority of Christians throughout the world have believed for centuries.
Our mission statement
Our mission statement is “Partnering together to know Jesus and to make Him known”.
To advance our mission statement we seek to build up the members of the church in their Christian faith, and to reach out to others in the community and elsewhere with the truths about Jesus.
To build up the members of the church, we encourage church members to meet together regularly, for mutual encouragement and teaching and also for accountability, so that we can encourage each other to lead lives which are holy and pleasing to God. To reach out to the community we run community outreach projects, so that we can serve and get to know others in the community. We also run a number of guest events. A few times a year we also make home visits around Brockley, to invite people to the church meetings.
Our Core Activities
In October 2022 we were pleased to welcome our new Senior Minister and it has been tremendously encouraging to see how the church is developing under his leadership.
The principal activities of Grace Church Brockley are:
- Church meetings every Sunday. We meet together on Sunday afternoons to sing, to pray, and to hear the Bible explained by our preachers. We believe that the most effective way of teaching the Bible at our church meetings is by expository preaching – where the preacher explains the meaning of a passage of the Bible in its original context, and considers how that applies to us today in South East London.
Page 3
Grace Church Brockley (a company limited by guarantee)
Report of the Directors for the year ended 31 August 2023
Our Core Activities continued
-
Monthly prayer meetings. Once a month, the church family meets together mid-week to pray together for the work of the church and for Christians around the world.
-
“Fellowship Groups”. We have a number of Fellowship Groups, each with around 6- 10 members, which meet mid-week. Each group studies a passage of the Bible together, and also prays together. The Fellowship Groups are important for practicing mutual accountability and offering pastoral support to those within the church. The relatively small size of the groups means that it is possible for group members to get to know each other well, and support each other in their Christian faith and with their lives generally. There is a specific Fellowship Group for local students who also enjoy a meal together.
-
“Chatterbox” – a group designed for parents/carers and pre-school children. We offer activities and snacks for the children and refreshments and chat for the parents/carers. A key part of these meetings is the Bible talk, where an aspect of the Christian faith is explained.
-
Baptismal services. From time to time, we incorporate baptism into our regular Sunday church meetings, where members of the congregation publically demonstrate their commitment to the Christian faith.
-
We are delighted to have been able to plant a new church in the Catford area, New Life Church Catford (NLCC). A number of individuals from our congregation joined NLCC which started to meet informally from April 2018 and officially launched in September 2018. We continue to support NLCC in prayer and in other ways where possible.
-
Partnership with Christians around the world. We have a number of “mission partners” around the world, which we support financially and also with mutual prayer.
In planning all of these activities, the Directors have had regard to the guidance on public benefit issued by the Charity Commission.
Mission Partnerships
The company continued in gospel partnership with the following main mission partners throughout the year:
-
A couple who work with Josiah Venture to help churches throughout Central and Eastern Europe reach out to unchurched youth through a network of evangelistic rock/gospel choirs and performing arts groups;
-
An evangelical church in Novi Sad, Serbia, known as Grace Church Novi Sad. The company supports the church through Crosslinks (www.crosslinks.org);
-
A family seeking to share the gospel in the Middle East. The company supports the church through United for Mission (www.ufm.org.uk)
-
A couple seeking to share the gospel in Spain. The company supports this couple through European Mission fellowship.
Page 4
Grace Church Brockley (a company limited by guarantee)
Report of the Directors for the year ended 31 August 2023
Structure, governance and management
Governing document
The organisation is a charitable company limited by guarantee, incorporated on 18 September 2013 and registered as a charity as from 11 October 2013. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up, the members are required to contribute an amount not exceeding £1 each.
The charity’s objects, as stated in the governing document, are: for the public benefit, to advance the Christian faith in accordance with the Statement of Faith in South East London and in such other part of the United Kingdom and the world as the Trustees may from time to time think fit.
Recruitment and appointment of the Church Council, Directors of the company and Trustees for the purposes of charity law
Under the company’s Memorandum and Articles of Association, appointments of new members of the Church Council or re-appointments of existing members of the Church Council shall be by election at the Annual General Meeting, with the approval of the Church Council and for a fixed period of three years.
The Directors of the company are also charity Trustees for the purposes of charity law. The appointment or re-appointment of any Director shall be by the Church Council.
Financial Review
The company is dependent for funding on donations solely from members of the company and other individual donors. In the year to 31 August 2023, the company recorded a surplus of £7,808 (2022 £53,642). At the year-end the company’s net assets were £129,511, which included cash of £95,725.
Reserves
The company does not currently own any building or other significant fixed assets nor is it contemplating any longer term financial projects that would require the establishment of substantial reserves. Consequently, the Directors consider that whilst this remains the case a prudent reserve of around 3-6 months of annual expenditure should be maintained, which equates to around £30,000-£60,000. At the end of the period, the unrestricted fund reserves of the company stood at £128,075 (2022: £109,939) and the Directors are considering how best to use some of these reserves.
Responsibilities of Directors
Company law requires the Directors to prepare financial statements for the financial period 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 period. In preparing those financial statements, the Directors should follow best practice and:
Page 5
Grace Church Brockley (a company limited by guarantee)
Report of the Directors for the year ended 31 August 2023
Responsibilities of Directors continued
-
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 assume the company will continue on that basis.
The Directors are responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Directors 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.
Independent Examiner
Stewardship Services were re-appointed as accountants to the company and an employee nominated by Stewardship acts as the company’s Independent Examiner.
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 directors and signed on their behalf by:
Kobby Sarpong Kobby Sarpong (Apr 22, 2024 11:09 GMT+1)
K Sarpong Date: Apr 22, 2024 Mr K Sarpong (Director) Company Number: 8696063, Charity Number: 1154174
Page 6
Independent Examiner’s Report to the Trustees of Grace Church Brockley (“the Company”)
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2023 on pages 8 to 14 following, which have been prepared on the basis of the accounting policies set out on pages 10 and 11.
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:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
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.
Ajay Rajani Ajay Rajani (Apr 22, 2024 13:09 GMT+1)
Ajay Rajani FCIE Stewardship 1 Lamb's Passage London, EC1Y 8AB
Date: Apr 22, 2024
Page 7
GRACE CHURCH BROCKLEY
FOR THE YEAR ENDED 31 AUGUST 2023
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
| Note INCOME FROM Donations and legacies 2 Charitable activities Investments: bank interest Total income and endowments EXPENDITURE ON Charitable activities 3 Total expenditure Net income/(expenditure) Transfers between funds Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted Restricted Total Total Funds Funds Funds Funds 2023 2023 2023 2022 £ £ £ £ 150,802 380 151,182 180,322 2,194 - 2,194 10,495 183 - 183 - |
|---|---|
| 153,179 380 153,559 190,817 |
|
| 135,043 10,708 145,751 137,175 |
|
| 135,043 10,708 145,751 137,175 |
|
| 18,136 (10,328) 7,808 53,642 - - - - |
|
| 18,136 (10,328) 7,808 53,642 109,939 11,764 121,703 68,061 |
|
| 128,075 1,436 129,511 121,703 |
The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing operations.
The notes on page 10 to14 form part of these accounts.
Page 8
GRACE CHURCH BROCKLEY
BALANCE SHEET
FOR THE YEAR ENDED 31 AUGUST 2023
| Note FIXED ASSETS Tangible assets 5 CURRENT ASSETS Debtors 6 Cash at bank 7 CURRENT LIABILITIES Liabilities falling due within one year 8 Net Current Assets NET ASSETS FUND BALANCES Unrestricted funds General Funds 9 Restricted Funds |
Unrestricted Restricted Total funds Total funds Funds Funds 2023 2022 £ £ £ £ - - - - |
|---|---|
| - - - - |
|
| 38,185 - 38,185 36,585 94,289 1,436 95,725 87,190 |
|
| 132,475 1,436 133,911 123,774 4,400 - 4,400 2,071 |
|
| 128,075 1,436 129,511 121,703 |
|
| 128,075 1,436 129,511 121,703 |
|
| 128,075 - 128,075 109,939 - 1,436 1,436 11,764 |
|
| 128,075 1,436 129,511 121,703 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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:
| Kobby Sarpong (Apr 22, 2024 11:09 GMT+1) Kobby Sarpong |
Apr 22, 2024 | ||
|---|---|---|---|
| --------------------------------------- | --------------------------------------- | ||
| Kobby Sarpong | Date | ||
| Company number: | 8696063 | Charity number: | 1154174 |
The notes on page 10 to14 form part of these accounts.
Page 9
GRACE CHURCH BROCKLEY
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2023
1 Accounting Policies
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. 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. 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.
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 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:
-
i) Recoverable gift aid. This 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.
-
ii) Donated facilities, services and goods. Goods donated for distribution to beneficiaries are recognised as income when receivable at fair value (being an estimate of the amount it would cost to purchase those items).
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 conferences, retreats and other events and courses.
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.
- 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
Unrestricted funds are funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. 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.
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 £1,000 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:
Computer software & hardware Over 2 years Fixtures and fittings Over 5 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.
Page 10
GRACE CHURCH BROCKLEY NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2023
1 Accounting Policies continued
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 statement.
j) Critical accounting estimates and areas of judgement
The trustees do not consider that there are 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.
2 Donations and legacies
| 2 Donations and legacies |
|
|---|---|
| General donations Donated accommodation for use by Senior Minister CAP Acts 435 Ukraine Appeal Tax recoverable 3 Expenditure on charitable activities a Direct Charitable Costs Clergy staff costs Staff accommodation costs Venue related costs CAP expenses including related staff costs Acts 435 Other ministry costs Depreciation Profit/Loss on sales of asset Grants payable Note 3c b Support & Administration Professional fees Insurance Combined charitable activity cost c Grants Missionary support in Brazil Missionary support in Czech Republic (via Josiah Ventures) Missionary support in Middle East (via United For Mission) Missionary support in Serbia (via Crosslinks) Missionary support in Spain (via European Mission Fellowship) FIEC Ukraine Appeal Governance costs - independent examiner’s fee |
Unrestricted Restricted Total Total Funds Funds 2023 2022 £ £ £ £ 125,226 - 125,226 116,621 - - - 1,360 - - - 16,397 - 380 380 780 - - - 12,515 25,576 - 25,576 32,948 |
| 150,802 380 151,182 180,622 |
|
| Unrestricted Restricted Total Total Funds Funds 2023 2022 £ £ £ £ 63,913 - 63,913 46,811 34,428 - 34,428 9,277 19,708 - 19,708 12,875 - 10,418 10,418 20,496 - 290 290 780 5,153 - 5,153 16,586 - - - 264 - - - 317 7,032 - 7,032 18,467 |
|
| 130,234 10,708 140,942 125,872 |
|
| 2,250 - 2,250 1,500 1,484 - 1,484 9,461 1,074 - 1,074 342 |
|
| 4,808 - 4,808 11,303 |
|
| 135,043 10,708 145,751 137,175 |
|
| Institutions Individuals 2023 2022 £ £ £ £ - - - 1,500 1,500 - 1,500 1,500 1,500 - 1,500 1,500 1,500 - 1,500 1,500 1,500 - 1,500 1,500 1,032 - 1,032 967 - - - 10,000 |
|
| 7,032 0 7,032 18,467 |
The grants were predominantly in relation to supporting individuals in training for full-time ministry or individuals working in Christian ministry in the UK and overseas.
Page 11
GRACE CHURCH BROCKLEY
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2023
4 Staff & Trustees
| f & Trustees | |
|---|---|
| Gross salaries Employer's National Insurance costs Employer's Pension costs Total staff costs |
2023 2022 £ £ 63,806 47,943 - 970 6,925 7,105 |
| 70,731 56,018 |
The average monthly number of employees during the year was 4 (2022: 2). Most of the charity's activities are carried out by volunteers.
The charity's key management comprise the trustees and the Senior Minister. During the year key management received employment benefits totalling £28,085 (2022: £13,178).
In addition the charity incurred expenditure totalling £34,428 (2022: £9,277) in respect of the customary provision of accommodation to the Senior Minister to that they could better perform their duties.
No trustees received employment benefits in either the current or preceding year. No staff received salaries at a rate of more than £60,000 per annum.
5 Tangible Fixed Assets
| 5 | Tangible Fixed Assets | |||||
|---|---|---|---|---|---|---|
| Computer | ||||||
| Fixtures | software | |||||
| & Fittings | & hardware | Total | ||||
| £ | £ | £ | ||||
| Cost | ||||||
| At 1 September 2022 | 1,893 | 2,806 | 4,698 | |||
| Additions in year | - | - | - | |||
| At 31 August 2023 | 1,893 | 2,806 | 4,698 | |||
| Accumulated Depreciation | ||||||
| At 1 September 2022 | 1,893 | 2,806 | 4,698 | |||
| Charge for the year | - | - | - | |||
| At 31 August 2023 | 1,893 | 2,806 | 4,698 | |||
| Net book value | ||||||
| At 31 August 2023 | - | - | - | |||
| At 1 September 2022 | - | - | - | |||
| 6 | Debtors and Prepayments | |||||
| 2023 | 2022 | |||||
| £ | £ | |||||
| Tax recoverable | 34,667 | 36,148 | ||||
| Prepayments and other debtors | 3,519 | 437 | ||||
| 38,185 | 36,585 | |||||
| 7 | Cash at Bank and in Hand | |||||
| 2023 | 2022 | |||||
| £ | £ | |||||
| Bank operating accounts | 94,165 | 86,414 | ||||
| Other cash amounts | 1,561 | 776 | ||||
| 95,725 | 87,190 | |||||
| 8 | Creditors: liabilities falling due within one year | |||||
| 2023 | 2022 | |||||
| £ | £ | |||||
| Accruals | 4,400 | 2,071 | ||||
| 4,400 | 2,071 | |||||
| 9 | Restricted funds | |||||
| During the year the movements in the charity's funds were as follows: | ||||||
| Opening | Incoming | Outgoing | Transfers | Closing | ||
| balance | resources | resources | in the year | balance | ||
| 2023 | 2023 | 2023 | 2023 | 2023 | ||
| £ | £ | £ | £ | £ | ||
| CAP Debt Management | 11,764 | - | 10,418 | - | 1,346 | |
| ACTS 435 | - | 380 | 290 | - | 90 | |
| Total | 11,764 | 380 | 10,708 | - | 1,436 |
Page 12
GRACE CHURCH BROCKLEY
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2023
9 Restricted funds continued
Analysis of net assets by fund
The assets and liabilities of the various funds were as follows:
| Analysis of net assets by fund The assets and liabilities of the various funds were as follows: |
Analysis of net assets by fund The assets and liabilities of the various funds were as follows: |
|
|---|---|---|
| Tangible fixed assets Debtors Cash at bank and in hand |
General Restricted funds funds 2023 £ £ £ - - - 38,185 - 38,185 94,289 1,436 95,725 |
|
| Creditors falling due within one year | (4,400) - (4,400) |
|
| 128,075 1,436 129,511 Opening Incoming Outgoing Transfers Closing balance resources resources in the year balance 2022 2022 2022 2022 2022 £ £ £ £ £ CAP Debt Management 11,764 20,496 20,496 - 11,764 ACTS 435 - 780 780 - - In the previous year the movements in the charity's funds were as follows: |
128,075 1,436 129,511 |
|
| Ukraine Appeal | - 15,269 10,000 (5,269) - |
|
| Senior Minister Accommodation | - 1,360 1,360 - - |
|
| Total | 11,764 37,905 32,636 (5,269) 11,764 |
|
Analysis of net assets by fund
In the previous year the assets and liabilities of the various funds were as follows:
| In the previous year the assets and liabilities of the various funds were as follows: | |
|---|---|
| Tangible fixed assets Debtors Cash at bank and in hand |
General Restricted funds funds 2022 £ £ £ - - - 36,585 - 36,585 75,426 11,764 87,190 |
| Creditors falling due within one year | (2,071) - (2,071) |
| 109,939 11,764 121,703 |
The CAP Debt Management Fund was created from donations received to run money management courses for those who are finding it difficult to manage their finances.
The ACTS 435 Fund was created from donations received to help provide assistance for those in need.
The Ukraine Fund was created for donations received to help those who have been affected by the war in Ukraine. In the previous year the unused funds were transferred to the General Fund with agreement from donors.
The Senior Minister Accommodation fund represents the rent waived by another Christian charity for accommodation used by the Senior Minister in 2022.
10 Lease Commitments
The charity has an operating lease for accommodation provided to the senior minister and during the year the charity paid rent of £27,000 for this lease. The minimum amount payable in respect of this lease is £33,000, all of which falls due within one year.
11 Transactions with related parties During the year the charity:
-
a) received donations (including related gift aid) totalling £35,131 (2022: £54,436) from related parties (which includes trustees, any other members of key management and anyone closely connected to them).
-
b) except for the reimbursement of expenses incurred when acting as agent for the charity, no expenses (2022: £nil) were paid to, or for, the trustees.
Except as disclosed in note 4 'Staff costs', there have been no other transactions with related parties during the year.
12 Members
Each member of the company commits to contribute if the charity is wound up an amount of £1.
Page 13
GRACE CHURCH BROCKLEY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES FOR THE YEAR ENDED 31 AUGUST 2023
| Note INCOME AND ENDOWMENTS FROM |
Total Total Funds Funds 2023 2022 2023 2022 2023 2022 £ £ £ £ £ £ Unrestricted Funds - General Restricted Funds |
|---|---|
| Donations and legacies 2 |
150,802 142,416 380 37,905 151,182 180,322 |
| Charitable activities Investments: Bank interest Total income and endowments EXPENDITURE ON Charitable activities 3 Total expenditure Net income/(expenditure) Transfers between funds Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
2,194 10,495 - - 2,194 10,495 183 - - - 183 - |
| 153,179 152,912 380 37,905 153,559 190,817 |
|
| 135,043 104,539 10,708 32,636 145,751 137,175 |
|
| 135,043 104,539 10,708 32,636 145,751 137,175 |
|
| 18,136 48,373 (10,328) 5,269 7,808 53,642 - 5,269 - (5,269) - - |
|
| 18,136 53,642 (10,328) - 7,808 53,642 109,939 56,297 11,764 11,764 121,703 68,061 |
|
| 128,075 109,939 1,436 11,764 129,511 121,703 |
|
Page 14