# **ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023** # **CITY VALLEY CHURCH (A COMPANY LIMITED BY GUARANTEE)** **CHARITY REGISTRATION No: 1155619 COMPANY REGISTRATION No: 08812890** Independent Examiners Ltd Unit 2 The Broadfields Business Centre Delling Lane Bosham PO18 8NF 1 **----- Start of picture text -----**
CITY VALLEY CHURCH
(A COMPANY LIMITED BY GUARANTEE)
CONTENTS
Page 3 Legal & Administrative Information
Pages 4 to 7 Directors' Annual Report
Page 8 Independent Examiner's Report
Page 9 Statement of Financial Activities
Pages 10 Balance Sheet
Page 11 to 16 Notes to the Financial Statements
**----- End of picture text -----**
2 ## **City Valley Church** ## **Report of the Trustees/Directors** ## **For the year ended 31[st] March 2023** The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31[st] March 2023. The report has been prepared in accordance with the special provisions Part 15 of the Companies Act 2006 relating to small companies. ## **REFERENCE & ADMINISTRATIVE DETAILS** Charity Name: City Valley Church Registered Company Number: 08812890 (England & Wales) Date of incorporation: 12.12.2013 Special Resolution: 12.05.2015 _(Amended Articles of Association)_ Registered Charity Number: 1155619 Date of Registration: 04.02.2014 Registered Office: 16 Sorrel Way, Baildon, Shipley, BD17 7QG Trustees and Directors: - M Cowley appointed 12/12/13 _(Appointed Chair 22/6/16) (Chair resigned 24/03/20)_ G Golding - appointed 21/03/17 J Sulc - appointed 26/06/18 M Small - appointed 24/03/20 _(Appointed Chair 24/03/20)_ (resigned 05/01/2023) _L Da Conceicao - appointed_ 24/03/20 **INDEPENDENT EXAMINERS** Independent Examiners Ltd Unit 2 The Broadfields Business Centre Delling Lane Bosham PO18 8NF **BANKERS:** CAF Bank Ltd Kings Hill Kent ME19 4TA 3 ## **STRUCTURE GOVERNANCE & MANAGEMENT** ## **Governing document** The organisation is a charitable company limited by guarantee, governed by its Memorandum and Articles of Association. In the event of the company being wound up, members are required to contribute an amount not exceeding £1. ## **Appointment of Trustees & Members** The members are those that are deemed to have agreed to become members of the company (as opposed to members of the church) as defined by section 112 of the Companies Act 2006 and in line with Article 8 of the governing document. The subscribers to the Memorandum were the first members of the charity. The existing members may by ordinary resolution appoint such a person who is willing to be a member, in line with the stipulations of the governing document. The Trustees, who are also the directors, are recommended for appointment by the members, and are appointed with the approval of the existing trustees. There is a required minimum of 3 trustees, but no maximum number. ## **Organisational structure** The trustees meet regularly to deal with the business and administration of the charity. Minutes are taken for the meetings and actions required are highlighted and referenced at the next meeting to ensure that matters are being dealt with. The trustees approve the budgets each year, and any spend requirements over and above the budgets are approved. Any matters relating to employment are approved by the trustees. Decisions are always made with the required quorum of trustees which is currently a minimum of 2 of the 4 appointed trustees. If required, a vote would take place to make a decision with a majority vote deciding the outcome. In practice, this has not been necessary thus far. The Church is managed on a day to day basis by the leadership team, headed up by Stewart Morris, with the support of a number of part time paid roles and a large team of volunteers. Representatives from the leadership team are invited to the trustees meetings, to facilitate good communication and efficient management of the Charity. No-one personally benefits from this organisation other than as a beneficiary apart from those few individuals who are to be paid for their particular services to the organisation, which includes the Church Leader, and the following part time roles: operations manager, finance administrator, kids’ ministry leader, site leader, lead elder, all site team leader. All of these roles are essential for the effective and successful running of this Church. The role of kids’ ministry leader and site leader are connected to two of the trustees. ## **Related parties** The Church operates under the oversight/direction of Christ Central, part of New Frontiers (a charitable organisation which oversees Church formation and training initiatives). There are close links with other Churches in the region who are members of the Christ Central family of Churches. ## **Risk management** The trustees have examined the major strategic, business and operational risks which the charity faces and have systems in place to monitor those risks and to take action where necessary to mitigate them. 4 ## **OBJECTIVES & ACTIVITIES** The charity’s objects (“the Objects”) are for the public benefit and are restricted to the following, outworked in Bradford and the Aire Valley and in such parts of the United Kingdom or the world as the Trustees may from time to time think fit: - To advance the Christian faith - To relieve persons who are in conditions of need, financial hardship or sickness and who may be aged and to relieve the distress caused thereby - To advance Christian Education - To provide or assist in the provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals 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. The trustees regularly review the objectives and activities of the charity, and as part of this review, have considered the Charity Commission’s general guidance on public benefit and, in particular, its supplementary guidance on the advancement of religion for the public benefit. ## **ACHIEVEMENT & PERFORMANCE** The charity carries out a wide range of activities in pursuance of its charitable aims. The trustees consider that these activities, as summarised below, provide benefit to both active members of the Church and the wider community of Bradford and the Aire Valley. During the year under review, the main areas of progress and achievement included: - Following the previous two years of Covid-19 restrictions and government guidelines, this year has enabled the three sites of Airedale, Bradford and Shipley to meet in-person and indoors regularly. This has helped each site to re-establish new rhythms and ways of operating in order to bless and serve the communities around them. This year there have been signs of recovery and growth across all three sites. - We have invested in the central operations and administration needed to support all three of our sites. We have also continued to invest in training some of our existing and emerging leaders. - This year Stew (City Valley Church) joined Andy (Ark Church Huddersfield) on a trip to East Africa to continue strengthening our partnerships and growing relationships with several churches in Zambia, Tanzania and Malawi. We have continued to fund sustainable farming training in church communities alongside teaching biblical kingdom values. This year we have also supported the launch of TanSOL (Tanzania School of Leadership), giving the funds needed for essential equipment to see TanSOL launched in Mbeya. - We have continued to give from our Hope Fund to individuals affected by the impact of Covid-19 and organisations helping to serve those in need across the region. Our Christmas offerings went towards supporting humanitarian relief work in churches in Ukraine, Bradford North Foodbank and Beacon, a charity working to support refugees and asylum seekers in Bradford. We have also continued to give regularly to a number of charities and organisations including, Global Cafe, Jubilee+ and the Shipley CAP Debt Centre 5 - Ongoing provision of children’s and youth work in all three of the sites, investing in the children, families and children’s teams within the church. - Continued support to International Students, through partnering with the Global Café Team. - The granting of gifts to individuals in need and to other charitable organisations with similar objectives. - Investment in the growing partnerships with other Christ Central churches in the Yorkshire region for prayer events, training and worship. City Valley Church helped to facilitate and fund a Yorkshire Together Celebration in November with over 450 people attending the event. The trustees are very happy with the overall outcome of the above in meeting the charity’s stated objectives and envisage sustained growth and development of the Church in the foreseeable future. The trustees recognise and acknowledge that this has been another challenging year for the Church and those it seeks to serve and support. ## **Financial Review** During the recent Covid-19 pandemic City Valley Church experienced a significant drop in our regular giving, however, we are encouraged that during this last year City Valley Church’s income has shown signs of recovery and growth. There has been a 5.7% increase in regular giving and a 28.6% increase in overall income compared with the previous year. This year City Valley Church has invested and resourced the three sites, Airedale, Bradford and Shipley, that are being established. This has been the first year, since the pandemic, that City Valley Church has been able to meet without restrictions and this has meant that expenditure has increased by 14.6% compared with the previous year. The income for the general running of the charity during the year came from the generous donations of members and private individuals. Every effort is being made to maximise the gift aid claims included. In September 2022, the Trustees agreed to restructure some designated funds, adding to general funds. City Valley Church’s funds are: |Designated Funds|Designated Funds|2023|2022| |---|---|---|---| |●|Building Fund (for future premises)|£0|£18,000| |●|Reserve (short term liquidity risk)|£30,000|£21,000| |●|Giving (balance of agreed 10% of income)|£2,568|£2,531| |●|Multi-sites (to support future vision)|£0|£13,800| |Restricted Funds|||| |●|Job Club|£1,250|£1,250| |●|Hope Fund|£4,942|£6,032| |●|Christ Central Yorkshire|£-836*|£215| |●|Nations
|£1,367.29|£0| - Christmas 2022 Airedale £0 (all restricted income received spent before year end) - Christmas 2022 Bradford £0 (all restricted income received spent before year end) - Christmas 2022 Shipley £0 (all restricted income received spent before year end) *This deficit will be topped up in the next financial year. 6 The Trustees have examined the major strategic, buslness and operational risks which the charlty faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to mitigate such risks. STATEMENT OF TRUSTEES RESPONSIBILITIES The Trustees (who are als¢ the dlrectors of City Valley Church for the purposes of company lawl are responslble for preparing the Report of the Trustees and the financi31 statements in accordance with applicable law and United Kingdom Accounting Standards Iunited KlnBdom Generally Accepted Atcountln8 Pratticel. Company law requlres the trustees to prepare financial statements for each financial year which Bive a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, includingthe income and expenditure, of the charitable companyfor that period. In preparin8 those financial statements, the trustee5 are required to select suStable accountln8 wjlSc5es and then apply them conslstently,. observe the methods and principles in the Charlty SORP- make judgements and estimates that are reasonable and prudent,. prepare the financial statements on the going concern basis unless It Is Inappropriate to presume that the tharitable company will continsje in business. The trustees are responsible for keepin8 proper accounting records which disclose with reasonable accuracy at any tlme the financial positlon of the charitable company and to enable them to ensure that the financial statements tomply wlth the Companies Act 2006. They are also responsible for safeguardin8 the assets of the charltable company and hence for tsklng reasonable steps for the prevention and detection of fraud and other irregularities. In 50 far as the trustees are aware.. there is no relevant audit Informatlon of which the charitable company'5 auditors are naware; and the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establlsh that the auditors are aware of that information. AUDITORS The auditors, Independent Examiners Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting. Approved by order of the board of trustees on .L.71J21&3... and signed on its behalf by: Josh Sulc Trustee ## **INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS** I report to the charity Trustees on my examination of the accounts of City Valley Church for the year ended 31 March 2023 which are set out on pages 9 to 16. 1. Respective responsibilities of Trustees and examiner 2. As the charity’s Trustees (who are also the directors of the company for the purposes of company law)of City Valley Church you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of name of City Valleys accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner’s statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1.accounting records were not kept in respect of name of charity as required by section 130 of the Act; or 2.the accounts do not accord with those records; or 3.the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed : Date: ## 18.12.23 K Gomes MAAT FCIE Independent Examiners Ltd Unit 2 The Broadfields Business Centre Bosham PO18 8NF 8 ## **CITY VALLEY CHURCH** ## **(A COMPANY LIMITED BY GUARANTEE)** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2023** ## **(Incorporating Income & Expenditure Account)** |**Notes**
Donations & Legacies
**3a**
Charitable Activities
**3b**
Other Incoming Resources
**3c**
**TOTAL INCOME**
**EXPENDITURE ON:**
Charitable Activities
**4a**
**TOTAL EXPENDITURE**
**NET INCOME/(EXPENDITURE)**
Total Funds Brought Forward
Transfer Between Funds
**TOTAL FUNDS CARRIED FORWARD**
**INCOME AND ENDOWMENTS**
**FROM:**|Unrestricted
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**2022/23**
**2021/22**
£
£
£
£
141,880
3,850
145,729
117,787
3,145
2,677
5,822
1,567
3,190
-
3,190
840| |---|---| ||**148,215**
**6,527**
**154,741**
**120,194**| ||140,867
7,300
148,167
125,323| ||**140,867**
**7,300**
**148,167**
**125,323**| ||**7,348**
**(774)**
**6,574**
**(5,128)**
120,047
7,497
127,544
132,672
-
-
-
-| ||**127,395**
**6,723**
**134,118**
**127,544**| Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing. The notes on pages 11 to 16 form part of these financial statements. 9 CITY VALLEY CHURCH IA COMPANY LIMITED 8Y GUARANTEE} BALANCE SHEET FOR THE YEAR ENDED 31ST MARCH 2023 Unrestncted Restricted Funds Funds Total Tot•1 31-￿a￿l3 31-Mar-22 Not• Flx¢d A￿•t5 Tangible Assets 2,559 2.559 3,412 Curr¢nt A••ets Cash at Bank & in Hand Debtor5 & Prepayments 125,155 2,007 6,723 131.878 2,007 120,657 5,135 Toi*l C¥rr¢nt A•••ts 127 162 133 886 125 792 Cr•dltoM: arnounts due wlthln one year 2,327 2,327 1,660 NET CURRENT ASSETS 124,835 6,723 131,559 124.132 TOTAL ASSETS le55 current Ilabllltle5 127,395 0,723 134,118 127,544 Long Term Llabllities io NET ASSETS 127 395 134 118 Fund• ol th• ¢h•vlty General Fund5 Designated Funds Restrlcted Funds 94,827 32,566 94,827 32,568 6,723 64,716 55,331 7,497 6,723 Totjl Vund• 127 395 134 118 For the financlal yejr enolng 31 March 2023 the charlty Wa5 entitled to exemptlon from audlt vnder sectlon 477 of the Companies Act 2006 relallng to small compbnles. Olr•rt•r•' regponxlbllltles.. The members have not requlred the charlty to obtaln an audlt ol Its account5 for the year In questyon In accordance wlth sectlon 476,. and The dlrectors acknowledge thelr ￿SpOnsIbIlItIeS for tomplylng wlth the requlrements of the Art wlth respect to aceountlng ￿e0rdS and the preparatlon of accounts. These financial statements have been prepared in accordance wlth the speclol prov151ons relatlng to ¢ompanles subject to the small companles reglm¢ wlthln Part is of the Companles Act 2006. The financlal $t8rements were approved by the trustees, and authorised for issue, and slgned on their tyehall by.. Approved by rhe Dlrectors on the . 1.7.1. ! z../. z.3.............. Slgn¢d on their behalf by Oirector............... Printed N•me.' J Sulc io ## **CITY VALLEY CHURCH** ## **(A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023** ## **1. ACCOUNTING POLICIES** ## **Basis of Preparation & Assessment of Going Concern** ## **Basis of Preparation** The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. The 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 (FRS102) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2011. The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes. ## **Assessment of Going Concern** Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern. ## **Cash Flow Statement** The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement. ## **Incoming Resources** ## _**Recognition of Incoming Resources**_ These are included in the Statement of Financial Activities (SOFA) when: ▪ the charity becomes entitled to the resources; ▪ the trustees are virtually certain they will receive the resources; and ▪ the monetary value can be measured with sufficient reliability ## _**Incoming Resources with Related Expenditure**_ Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA. ## _**Grants and Donations**_ Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources. ## _**Tax Reclaims on Donations and Gifts**_ Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate. ## _**Contractual Income and Performance Related Grants**_ This is only included in the SOFA once the related goods or services has been delivered. ## _**Gifts in Kind**_ Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable. ## _**Donated Services and Facilities**_ These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received. ## _**Volunteer Help**_ The value of any voluntary help received is not included in the accounts but is described in the trustees' annual report. ## _**Investment Income**_ This is included in the accounts when receivable. ## _**Investment Gains and Losses**_ This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year. 11 ## **CITY VALLEY CHURCH** ## **(A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2023** ## **1. ACCOUNTING POLICIES (Continued)** ## **Expenditure and Liabilities** ## _**Liability Recognition**_ Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources. ## _**Governance Costs**_ Include costs of the preparation and examination of statutory accounts, the costs of the trustees' meetings and cost of any legal advice to trustees on governance or constitutional matters. ## _**Grants with Performance Conditions**_ Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output. ## _**Grants Payable without Performance Conditions**_ These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity. ## _**Support Costs**_ Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of the resources, e.g. allocating property costs by floor areas, or per capital, staff costs by the time spent and other costs by their usage. ## _**Pensions**_ The charity operates a defined contribution pension scheme. Contributions are charged to the Statement of Financial Activities as they become payable in accordance with the rules of the scheme. ## _**Operating Leases**_ Rental charges payable under operating leases are charged on a straight line basis over the terms of the lease ## _**Taxation**_ The charity is exempt from tax on its charitable activities. ## _**Legal Status of the Charity**_ The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. ## _**Fixed Assets**_ Tangible fixed assets for use by the charity, are capitalised if they can be used for more than one year, and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt. There has been no change to the accounting policies (Valuation rules and methods of accounting) since last year. ## _**Depreciation Expense**_ Depreciation is calculated at a rate to write off the cost of tangible fixed assets on a Reducing Balance over their estimated useful lives. The rates applied per annum are as follows: General Equipment 25% 12 ## **CITY VALLEY CHURCH** ## **(A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2023** ## **2. TANGIBLE FIXED ASSETS** |||Land &|General|Motor||**Total**| |---|---|---|---|---|---|---| |||Buildings|Equipment|Vehicles||**2022/23**| |||£|£|£||£| |Cost|01-Apr-22|-|44,550||-|44,550| |Additions||-|-||-|-| |Cost at|31-Mar-23|**-**|**44,550**||**-**|**44,550**| |Depreciation|01-Apr-22|-|41,138||-|41,138| |Charge||-|853||-|853| |Depreciation at|31-Mar-23|**-**|**41,991**||**-**|**41,991**| |Net Book Value|31-Mar-23|**-**|**2,559**||**-**|**2,559**| |Net Book Value|31-Mar-22|**-**|**3,412**||**-**|**3,412**| The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31st March 2023: None 31st March 2022: None ## **3. INCOME AND ENDOWMENTS** |**a) Donations & Legacies**
Gifts, Tithes & Offerings
Gift Aid Tax Recoverable
**b) Charitable Activities**
Activities & Projects
**c) Other Incoming Resources**
Sundry Income|Unrestricted
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**2022/23**
**2021/22**
£
£
£
£
113,948
3,850
117,797
101,591
27,932
-
27,932
16,195
-| |---|---| ||**141,880**
**3,850**
**145,729**
**117,787**| ||3,145
2,677
5,822
1,567| ||**3,145**
**2,677**
**5,822**
**1,567**| ||3,190
-
3,190
840| ||**3,190**
**-**
**3,190**
**840**| 13 ## **CITY VALLEY CHURCH** ## **(A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS (continued)** ## **FOR THE YEAR ENDED 31ST MARCH 2023** |**4. EXPENDITURE**
**a) Charitable Activities**
**Note**
Activites & Projects
**5**
Core Costs
AV Costs
Chidlren's expenses
Depreciation Expense
Evangelism
Gifts & Donations
**5**
Ministry/Mission Costs
**5**
Salaries & Wages
**13**
Social Action
Student Costs
Sundry Expenses
Training Costs
Yorkshire Expenses
Youth Expenses
Independent Examiners Fee
Nations
**5. RESTRICTED FUNDS**
**CURRENT FINANCIAL YEAR**
Job Club
Hope Fund
Christ Central Yorkshire
Nations
Christmas 2022 - Airedale
Christmas 2022 - Bradford
Christmas 2022 - Shipley
**PREVIOUS FINANCIAL YEAR**
Job Club
Hope Fund
Christ Central Yorkshire
**6. DESIGNATED FUNDS**
**CURRENT FINANCIAL YEAR**
Building Fund (for future premises)
Reserve(short term liquidity risk)
Giving (balance of agreed 10% of income)
Multi-sites (to support future vision)|Unrestricted
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**2022/23**
**2021/22**
£
£
£
£
3,779
3,728
7,507
2,486
31,271
-
31,271
10,705
-
-
-
1,068
432
-
432
1,087
853
-
853
1,137
-
-
-
111
12,490
2,482
14,973
19,265
2,806
1,090
3,896
8,157
78,862
-
78,862
75,819
-
-
-
430
-
-
-
157
-
-
-
843
4,109
-
4,109
2,724
-
-
-
10
705
-
705
123
1,200
-
1,200
1,200
4,359
-
4,359
-
**140,867**
**7,300**
**148,167**
**125,323**
**Balance**
**Balance**
**01-Apr-22**
Income
Expenditure
Transfers
**31-Mar-23**
£
£
£
£
£
1,250
-
-
-
1,250
6,032
-
1,090
-
4,942
215
2,677
3,728
-
836
-
-
1,367
-
-
1,367
-
2,211
2,211
-
-
-
103
103
-
-
-
168
168
-
-| |---|---| ||**7,497**
**6,526**
**7,300**
**-**
**6,723**| ||**01-Apr-21**
Income
Expenditure
Transfers
**31-Mar-22**
£
£
£
£
£
1,250
-
-
-
1,250
-
-
1,919
7,951
6,032
-
857
650
8
215| ||**1,250**
**857**
**2,569**
**7,959**
**7,497**| ||**Balance**
**Balance**
**01-Apr-22**
Income
Expenditure
Transfers to
general
**31-Mar-23**
£
£
£
£
£
18,000
-
-
18,000
-
-
21,000
-
-
9,000
30,000
2,531
3,167
3,130
2,568
13,800
-
-
13,800
-
-| ||**55,331**
**3,167**
**3,130**
**9,000**
**-**
**32,568**| 14 ## **CITY VALLEY CHURCH** ## **(A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2023** |**7. CASH AT BANK AND IN HAND**
Cash at Bank and in Hand
**8. DEBTORS AND PREPAYMENTS**
Gift Aid Tax Recoverable
Prepayments
Stripe Payment
Independent Examiner's Fee
Sundry Creditors
**9. CREDITORS AND ACCRUALS: AMOUNTS**
**FALLING DUE WITHIN ONE YEAR**|Unrestricted
Restricted
**Total**
**Total**
Fund
Fund
**31-Mar-23**
**31-Mar-22**
£
£
**£**
**£**
125,155
6,723
131,878
120,657| |---|---| ||**125,155**
**6,723**
**131,878**
**120,657**| ||Unrestricted
Restricted
**Total**
**Total**
Fund
Fund
**31-Mar-23**
**31-Mar-22**
£
£
**£**
**£**
1,107
-
1,107
4,433
900
-
900
525
-
-
-
177| ||**2,007**
**-**
**2,007**
**5,135**| ||Unrestricted
Restricted
**Total**
**Total**
Fund
Fund
**31-Mar-23**
**31-Mar-22**
£
£
**£**
**£**
1,250
-
1,250
1,200
1,077
-
1,077
460| ||**2,327**
**-**
**2,327**
**1,660**| ## **10. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR** The Charity held no long term liabilities during this or the previous financial year. |**11. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
**CURRENT FINANCIAL YEAR**
Tangible Fixed Assets
Net Current Assets
**PREVIOUS FINANCIAL YEAR**
Tangible Fixed Assets
Net Current Assets|Unrestricted
Restricted
**TOTAL**
Funds
Funds
**2022/23**
£
£
£
2,559
-
2,559
124,835
6,723
131,559| |---|---| ||**127,394**
**6,723**
**134,118**| ||Unrestricted
Restricted
**TOTAL**
Funds
Funds
**2021/22**
£
£
£
3,412
-
3,412
116,635
7,497
124,132| ||**120,047**
**7,497**
**127,544**| 15 ## **CITY VALLEY CHURCH** ## **(A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2023** ## **12. RECONCILIATION OF MOVEMENT ON CAPITAL AND RESERVES** The Company is Limited by Guarantee (08812890) and is a Charity registered with the Charity Commission (1155619) and does not have a Share capital and has no income subject to Corporation Tax. |**2022/23**
**£**
Profit / Deficit for the financial year
6,574
**6,574**
Balance Brought Forward
127,544
Closing Funds at 31st March 2023
**134,118**
**13. STAFF COSTS AND NUMBERS**
**TOTAL**
**2022/23**
**£**
Gross Wages & Salaries
73,054
Employer's National Insurance Costs
3,971
Pension Contributions
1,837
**78,862**
Employees who were engaged in each of the following activities:
Charitable Activities
6
**6**|**2021/22**
**£**
5,128
-| |---|---| ||**5,128**
**-**| ||132,672| ||**127,544**| ||**TOTAL**
**2021/22**
**£**
71,120
3,548
1,151| ||**75,819**| ||7| ||**7**| The Charity operates a PAYE Scheme to pay all employed members of Staff and no employees received emoluments in the range of £50,000 to £60,000 (2021/22:None) ## **14. DIRECTORS AND OTHER RELATED PARTY TRANSACTIONS** During the financial year Mr M.P Cowley received £0 funds (2022 £964.51) Mrs J.R Cowley (Spouse to Director Mr M.P Cowley) received £4423.57 (2022 £3,112.76 ) in salary related payments in furtherance the charitable objectives of the Church. During the financial year Mayme Small received £11,306.20 (2022 £5,243.10 )and Matt Small as spouse £6,914.20 (2022 £11,347.57) in salary related payments in furtherance the charitable objectives of the Church. During the financial year Joanna Sulc received £0 funds (2022 £2,683.81) (spouse of Josh Sulc) in salary related payments in furtherance the charitable objectives of the Church. No other payments were made to directors or any persons connected with them during the financial year. No other material transaction took place between the charity and a trustee or any person connected with them. ## **15. RESERVES POLICY** The Directors have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The Directors aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The directors will endeavour not to set aside funds unnecessarily. ## **16. PUBLIC BENEFIT** The Charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake. 16