ARK COMMUNITY CHURCH SUTTON COLDFIELD
FINANCIAL STATEMENTS
31 MARCH 2021
ARK COMMUNITY CHURCH SUTTON COLDFIELD
INDEX
| Page | |
|---|---|
| CHARITY INFORMATION | 1 |
| REPORT OF THE TRUSTEES | 2 - 5 |
| INDEPENDENT EXAMINERS REPORT | 6 |
| STATEMENT OF FINANCIAL ACTIVITIES | 7 |
| BALANCE SHEET | 8 |
| STATEMENT OF CASHFLOWS | 9 |
| NOTES TO THE ACCOUNTS | 10 -15 |
ARK COMMUNITY CHURCH SUTTON COLDFIELD
CHARITY INFORMATION
TRUSTEES:
CHURCH PASTOR
Stephen Eaves Michael Hew Roger Hughes Stephanie Jones Trevor Jones Chan Naraine Chris Philips Ella Quarrell Neil Spencer Helen Thomson Chris Woods Stephen Eaves
ELDERS. Roger Hughes Lynn Jennings Helen Thomson
John Walker SECRETARY: Ella Quarrell TREASURER Trevor Jones CHARITY REGISTRATION NUMBER: 1161799 BANKERS: CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ ENQUIRIES: Stephen Eaves 5a Longmeadow Close Sutton Coldfield B75 7SQ
ENQUIRIES:
Page 1
ARK COMMUNITY CHURCH SUTTON COLDFIELD
REPORT OF THE TRUSTEES
The Trustees present their annual report and financial statements for the year ended 31 March 2021. The financial statements comply with the Charities Act 2011, 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 2015.
OBJECTIVES AND ACTIVITIES
The church was constituted as an incorporated charitable organization on 22 May 2015 and from September 2015, assumed, by way of transfer, the assets and undertakings carried out by a charitable trust also known as Ark Community Church Sutton Coldfield.
The objectives of the organisation are to advance the Christian faith in accordance with the Evangelical Alliance statement of beliefs. The church may also fulfil such other purposes which are exclusively charitable and relate to the charitable work of the church. During the period the objects of the Charity were put into effect by the Pastor in conjunction with members of a leadership group appointed to hold responsibility for ministries within the church, namely community engagement, children and youth, worship, hospitality, pastoral support and facilities and administration.
The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Trust’s aims and objectives and activities.
ACHIEVEMENTS AND PERFORMANCE
The year in question witnessed one of the greatest challenges the world has faced in a generation with the spread of COVID-19. This affected many churches and charities including Ark Community Church. Notwithstanding this unprecedented time, the finances remained robust. Income from giving by members of the fellowship continued, despite the impacts of multiple lockdowns, which enabled the church to continue not only to support its vulnerable members, and those in need locally, but also to continue to help needy overseas partners and friends as well with support for a project training and outreach leader for YWAM Africa and directly to two local church leaders in Uganda & Tanzania.
Although the church was unable to meet physically for much of the financial year, connections and relationships were maintained. Each Sunday from the very beginning of lockdown, services were live streamed, Zoom was used to allow prayer groups, home groups and training to take place. Some of these proved so successful that they have continued after restrictions were lifted. Some public services were held outside, and as soon as the building works were completed, the church met for Sunday services, while abiding by social distancing, mask wearing and all other safety measures.
During this time, some staff that were unable to carry out their roles were furloughed, and many activities and ministries had to stop. Despite this, the work and ministry of the church continued, and the reach of worship, preaching and teaching expanded enormously through the internet and social media.
Page 2
ARK COMMUNITY CHURCH SUTTON COLDFIELD
REPORT OF THE TRUSTEES (continued)
ACHIEVEMENTS AND PERFORMANCE (continued)
The church has seen many newcomers and people inquisitive about the Christian faith. We are preparing for significant growth in the days ahead as the nation as a whole adapts to new ways of functioning, and people seek to come together again and to meet with and worship God. The work of the part-time Community Engagement Leader has been extremely valuable throughout this year. Her time has been spent providing both practical and spiritual support to members of the community, helping families on low income and with childcare problems, as well as encouraging others to do the same. “Care Connect” was able to co-ordinate and provide care packages as well as offer pastoral support by telephone.
Families with children within the church were supported by the Kids Work team. Every week throughout lockdown, recorded broadcasts were offered via social media to help keep children connected. This was so successful that many children from outside of the church joined in. Activities were carried out together live, with resources dropped off to each home in advance of each session. This approach provided emotional support and encouragement to both children and their parents.
The connection with LifeSpring Church Wolverhampton has continued throughout the year with the provision of regular live teaching broadcasts, Zoom meetings and face to face gatherings as and when possible. Support was also given towards LifeSpring Global’s outreach mission.
STRUCTURE, GOVERNANCE AND ORGANISATIONAL MANAGEMENT
The church is structured as a charitable incorporated organization, incorporated on 22 May 2015. Names of the Trustees who served during the year and since the period end are shown on page 1. Derek Halpin and John Walker stood down as Trustees on 14 September 2020 and on 12 January 2021 Stephen Eaves, Stephanie Jones, Chris Philips, Neil Spencer and Chris Woods were appointed.
The charity is organized so that the Trustees who are also the management committee meet regularly to manage its affairs and are responsible for overall governance of the organization and keep under review its policies and practices. Trustees are sought, approved, and appointed in conjunction with the Elders in accordance with the provisions in the constitution and they keep their skill requirements under review and provide induction procedures and training relevant to the individuals’ knowledge and understanding. Two new Elders, Lynn Jennings and Helen Thomson were commissioned with David Floy stepping down.
There is a full time Pastor who manages the day-to-day administration assisted by a community engagement leader and in conjunction with members of a leadership group appointed to hold responsibility for ministries within the church, namely community engagement, children and youth, worship, hospitality, pastoral support and facilities and administration the Pastor oversees the staff team and volunteers.
Page 3
ARK COMMUNITY CHURCH SUTTON COLDFIELD
FINANCIAL REVIEW
Financial performance
The church’s principal funding sources are voluntary donations from fellowship and visitors with other income from grants and donations in support of specific activities.
The underlying income for the unrestricted fund, which is the main operating source for the church was 4% higher at £80,482 with corresponding expenditure 12 % lower at £64,141 as a result of reduced church staffing costs. Restricted fund income was lower at £34,512 (2020 £181,640) as a result of the suspension of our Stepping Stones activities due to Covid and lower building fund appeal income, which was completed during the year. Corresponding expenditure was £28,735 (2020 £34,363). Overall unrestricted funds increased by £16,341 whilst restricted funds increased by £5,777.
Reserves policy
The trustees seek to limit unrestricted reserves and restricted reserves in respect of its Stepping Stones projects to no more than one year’s budgeted regular expenditure. They aim to apply mission and other restricted reserves to the specific activities within a twelve-month period. During the year, the church started receiving donations, grants, and other income towards the enlargement of the church leasehold premises which was applied against the cost of works carried out to date.
Risk policy
The Trustees have identified certain risks to which the charity was exposed as part of their responsibilities in running the church. The main risks relate to ensuring robust governance policies and practices are maintained and in its financial activities. The Church has established risk management, investment, safeguarding vulnerable beneficiaries, complaints, and data protection policies which are reviewed by the trustees regularly.
Specifically, the Trustees and all adults who are involved with children and vulnerable beneficiaries are screened by an independent body (31-8) and follow the churches guidelines with appropriate training provided. The church maintains Public and Employees liability insurance with a charity specialist insurer. Financial management is managed by quarterly reporting and scrutiny by Trustees.
The risk to the Church from COVID-19 is a reduction in donation income resulting from compliance with Government restrictions on meetings with a consequent reduction in donations however these have reduced by less than 10%. The church has continued to provide Sunday worship, prayer, fellowship and Trustee and elders meetings through the use of technology and has made use of the Job Retention Scheme in respect of employees in our Stepping Stones projects whose job roles could not be fulfilled as a result of regulations.
Page 4
ARK COMMUNITY CHURCH SUTTON COLDFIELD
REPORT OF THE TRUSTEES (continued)
RESPONSIBILITIES OF TRUSTEES
The trustees are responsible for the preparation of the trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards.
Charity law requires the trustees to prepare financial statements for each 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 for that period. In preparing those 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.
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume the charity will continue in business.
The Trustees are responsible for keeping 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 constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed On behalf of the Trustees on 15[th] September 2021
Trevor Jones Trustee
Page 5
ARK COMMUNITY CHURCH SUTTON COLDFIELD
Independent examiner’s report to the trustees of Ark Community Church Sutton Coldfield
I report on the accounts of Ark Community Church Sutton Coldfield for the year ended 31 March 2021, which are set out on pages 7 to 15.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this period under section 144 of the Charities Act 2011 (the Act) and that an independent examination is needed. It is my responsibility to:
-
examine the accounts under section 145 of the Charities Act 2011.
-
to follow the procedures laid down in the General Directions of the Charity Commission under section 145(5)(b) of the Act; and
-
to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner’s unqualified statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements:
-
to keep accounting records in accordance with section 130 of the Act; and
-
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Act
have not been met; or
(2) to which, in my opinion, attention should be drawn to enable a proper understanding of the accounts to be reached.
Name: Richard Morton Address: 41 Cremorne Road, Sutton Coldfield Date 15[th] September 2021
Page 6
ARK COMMUNITY CHURCH SUTTON COLDFIELD
STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2021
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| funds | funds | funds | 2020 | ||
| Notes | £ | £ | £ | £ | |
| Income | |||||
| Donations and gifts | 2 | 75,984 | 14,596 | 90,580 | 165,125 |
| Charitable activities | 3,137 | - | 3,137 | 31,122 | |
| Grants received | - | 19,916 | 19,916 | 61,032 | |
| Investment & other income | 1,361 | - | 1,361 | 1,650 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Total | 80,482 | 34,512 | 114,994 | 258,929 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Expenditure | |||||
| Staff costs | 3 | 45,199 | 15,055 | 60,254 | 57,355 |
| Activity expenditure | 4 | 17,054 | 13,680 | 30,734 | 45,705 |
| Governance and support | 5 | 1,888 | - | 1,888 | 3,929 |
| ─────── | ─────── | ─────── | ─────── | ||
| Total | 64,141 | 28,735 | 92,876 | 106,989 | |
| ─────── | ─────── | ────── | ─────── | ||
| Net gain on investments | - | - | - | 2,980 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Net income/(expenditure) | 16,341 | 5,777 | 22,118 | 154,920 | |
| Transfers between funds | - | (-) | - | - | |
| ─────── | ─────── | ─────── | ─────── | ||
| Net movement in funds | 16,341 | 5,777 | 22,118 | 154,920 | |
| Reconciliation of funds: | |||||
| Total funds brought forward | 131,327 | 221,991 | 353,318 | 198,398 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Total funds carried forward | 147,668 | 227,768 | 375,436 | 353,318 | |
| ═══════ | ═══════ | ═══════ | ═══════ |
The statement of financial activities includes all gains and losses recognised in the period. All income and expenditure derive from continuing activities.
Page 7
ARK COMMUNITY CHURCH SUTTON COLDFIELD
BALANCE SHEET AT 31 MARCH 2021
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ |
£ |
£ |
|
| Fixed assets: | |||||
| Tangible assets | 6 | 351,215 | 245,989 | ||
| Current assets | |||||
| Debtors | 7 | 3,905 | 12,471 | ||
| Cash at bank | 20,437 | 44,779 | |||
| Bank deposit | 10,083 | 102,179 | |||
| ────── | ────── | ||||
| 34,425 | 159,429 | ||||
| Creditors: amounts falling due | |||||
| within one year | 8 | (10,204) | (52,100) | ||
| ───── | ───── | ||||
| Net current assets | 24,221 | 107,329 | |||
| ────── | ────── | ||||
| Total net assets | 375,436 | 353,318 | |||
| ══════ | ══════ | ||||
| Funds of the charity: | |||||
| Unrestricted | 147,668 | 131,327 | |||
| Restricted | 9 | 227,768 | 221,991 | ||
| ────── | ────── | ||||
| 375,436 | 353,318 | ||||
| ══════ | ══════ |
The notes on pages 9 to 15 form part of these accounts. Signed by
Name TREVOR L JONES - Treasurer
Approved by the Trustees on 15[th] September 2021
Page 8
ARK COMMUNITY CHURCH SUTTON COLDFIELD
STATEMENT OF CASH FLOWS YEAR ENDED 31 MARCH 2021
| STATEMENT OF CASH FLOWS YEAR ENDED 31 MARCH 2021 |
||
|---|---|---|
| 2021 | 2020 | |
| £ |
£ | |
| Cash flows from operating activities: (below) | ||
| Net cash (absorbed)/generated by operating activities |
(2,081) | 204,017 |
| _____ | _____ | |
| Cash flows from investing activities: | ||
| Interest from investments | 1,361 | 1,650 |
| Purchase of tangible fixed assets |
(115,718) | (197,041) |
| _____ | _____ |
|
| Net cash (used)/generated by investing activities |
(114,357) | (195,391) |
| _____ | _____ | |
| Cash flow from financing activities | ||
| Proceeds of sale of investments | - | 66,742 |
| _____ | _____ | |
| Change in cash and cash equivalents |
(116,438) | 75,368 |
| Cash and cash equivalents at the beginning of the year | 146,958 | 71,570 |
| _____ | _____ | |
| Cash and cash equivalents at the end of the year |
30,520 | 146,958 |
| _____ | _____ |
|
| Reconciliation of net movement in funds to net cash flow | ||
| from operating activities | ||
| Net income for the year |
22,118 | 154,920 |
| Adjustments for: | ||
| Depreciation charges |
10,492 | 10,905 |
| Gain on investments |
( - ) | (2,980) |
| Investment income |
(1,361) | (1,650) |
| Decrease/(increase) in debtors |
8,566 | (5,886) |
| (Decrease)/increase in creditors |
(41,896) | 48,708 |
| _____ | _____ | |
| Net cash (absorbed)/generated by operating activities |
(2,081) | 204,017 |
| _____ | _____ |
Page 9
ARK COMMUNITY CHURCH SUTTON COLDFIELD
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021
1 Accounting Policies
The principal accounting policies adopted, judgements and key sources of estimation in the preparation of the financial statements are as follows:
(a) Basis of preparation
- The financial statements have been prepared in accordance with the Charities Statement of Recommended Practice (Charities SORP) (FRS 102) and with the Charities Act 2011.
(b) Going Concern
The financial statements have been prepared on the going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
- (c) Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income has been met, it is probable that the income will be received, and the amount can be measured reliably.
- (d)
Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably.
- (e) Fund accounting
Unrestricted funds are available to spend on activities that further any purpose of the charity. Restricted funds are donations which the donor has specified to be solely used for a particular purpose.
- (f) Tangible fixed assets
The church premises are included at cost as ascertaining a market value would incur significant costs which would be onerous compared with the additional benefits to the reader. Individual fixed assets costing £500 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight-line basis as follows;
| Improvements to leasehold premises | Length of the lease |
|---|---|
| Fixtures and fittings | 3 years |
| Equipment | 3 years |
(g) Pensions
The charity operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.
Page 10
ARK COMMUNITY CHURCH SUTTON COLDFIELD
NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 31 MARCH 2021
| 2 | Donations and gifts | 2021 | 2020 |
|---|---|---|---|
| £ | £ | ||
| Donations and gifts from individuals (incl: £14,596 | |||
| 2020 £78,902 restricted funds) | 72,806 | 138,773 | |
| Gift Aid | 17,774 | 27,352 | |
| ────── | ───── | ||
| 90,580 | 165,125 | ||
| ═════ | ═════ | ||
| 3 | Staff costs | ||
| Salaries (incl: £14,400, 2020 £11,405 restricted) | 58,074 | 55,310 | |
| National insurance | - | 15 | |
| Pension costs (incl: £655, 2020 £625 restricted) | 2,180 | 2,030 | |
| ────── | ───── | ||
| 60,254 | 57,355 | ||
| ═════ | ═════ | ||
| The average number of persons employed was 5 including | 3 within Stepping | Stones Projects. | |
| 4 | Activity expenditure | ||
| Premises costs (incl: £0, 2020 £1,050 restricted) | 5,554 |
9,090 | |
| Stepping Stones activity expenditure (restricted) | 410 | 7,454 | |
| Mission expenditure (incl: £nil, 2020 £nil restricted) | - | 448 | |
| Mission giving (incl: £2508, 2020 £2,250 restricted) | 7,758 | 8,335 | |
| Ministry and outreach (incl: £454, 2020 £1,267 restricted) | 5,936 | 9,733 | |
| Equipment | 768 | 333 | |
| Depreciation (restricted) | 10,308 | 10,312 | |
| ────── | ───── | ||
| 30,734 | 45,705 | ||
| ══════ | ═════ | ||
| 5 | Governance and support | ||
| Membership & compliance costs | 749 | 849 | |
| Depreciation | 184 | 593 | |
| Training & other costs | 90 | 909 | |
| Insurance | 865 | 1,578 | |
| Independent examiners fees | - | - | |
| Trustees expenses | - | - | |
| ─────── | ─────── | ||
| 1,888 | 3,929 | ||
| ═══════ | ══════ |
Page 11
ARK COMMUNITY CHURCH SUTTON COLDFIELD
NOTES TO THE FINANCIAL SATEMENTS (continued) YEAR ENDED 31 MARCH 2021
| 6 | Fixed assets | |||
|---|---|---|---|---|
| Leasehold | Equipment |
Total | ||
| improvements | ||||
| & fixtures | ||||
| £ | £ | £ | ||
| Cost | ||||
| At beginning of year | 300,151 | 10,668 | 310,819 | |
| Additions | 115,166 | 552 | 115,718 | |
| Disposals | ( -) |
( -) |
( -) |
|
| ─────── | ─────── | ────── | ||
| At end of year | 415,317 | 11,220 | 426,537 | |
| ─────── | ─────── | ────── | ||
| Depreciation | ||||
| At beginning of year | 54,162 | 10,668 | 64,830 | |
| Charge for the year | 10,308 | 184 | 10,492 | |
| On disposals | ( -) |
( -) | ( -) |
|
| ─────── | ─────── | ─────── | ||
| At end of year | 64,470 | 10,852 | 75,322 | |
| ─────── | ─────── | ─────── | ||
| Net Book Value -31 March 2021 | 350,847 | 368 | 351,215 | |
| ═══════ | ═══════ | ═══════ | ||
| Net Book Value – 31 March 2020 | 245,989 | - | 245,989 |
|
| ═══════ | ═══════ | ══════ | ||
| 7 | Debtors | 2021 | 2020 | |
| £ | £ | |||
| Gift Aid receivable | 3,537 | 9,426 | ||
| Amounts due for activities | - | 1,131 | ||
| Other debtors | 368 | 1,914 | ||
| ───── | ───── | |||
| 3,905 | 12,471 | |||
| ═════ | ═════ |
Page 12
ARK COMMUNITY CHURCH SUTTON COLDFIELD
NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 31 MARCH 2021
8 |
Creditors | 2021 | 2020 | ||
|---|---|---|---|---|---|
| £ | £ | ||||
| Accruals & other creditors | 10,204 | 52,100 | |||
| ═════ | ════ | ||||
| 9 | Restricted funds | ||||
| Stepping | Mission | Leasehold |
Total | ||
| Stones | & other | premises |
|||
| Income |
£ | £ | £ |
£ | |
| Donations and gifts | - | 6,178 | 8,418 |
14,596 | |
| Grants received | 14,916 | - | 5,000 |
19,916 | |
| Activity income | - | - | - |
- | |
| ─────── | ─────── | ─────── | ─────── | ||
| Total | 14,916 | 6,178 | 13,418 |
34,512 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Expenditure | |||||
| Activity expenditure | 410 | 2,962 | 10,308 |
13,680 | |
| Staff costs | 15,055 | - | - |
15,055 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Total | 15,465 | 2,962 | 10,308 |
28,735 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Net movement in funds | (549) | 3,216 | 3,110 |
5,777 | |
| Transfers re internal charges | (5,000) | - | 5,000 |
() | |
| Total funds brought forward | 24,510 | 4,620 | 192,861 |
221,991 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Total funds carried forward | 18,961 | 7,836 | 200,971 |
227,768 | |
| ═══════ | ═══════ | ═══════ | ═══════ | ||
| 10 | Analysis of net assets between funds | ||||
| Unrestricted Restricted | Total | ||||
| Funds | Funds | Assets | |||
| £ | £ | £ | |||
| Fixed assets | 115,947 | 235,268 |
351,215 | ||
| Cash and bank balances and deposits | 30,520 | - |
30,520 | ||
| Other current assets less liabilities | 1,201 | (7,500) |
(6,299) | ||
| ─────── | ─────── | ─────── | |||
| 147,668 | 227,768 |
375,436 | |||
| ═══════ | ═══════ | ══════ |
Page 13
ARK COMMUNITY CHURCH SUTTON COLDFIELD
NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 31 MARCH 2021
11 Statement of Financial Activities (previous year)
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| funds | funds | funds | 2019 | ||
| Notes | £ | £ | £ | £ | |
| Income | |||||
| Donations and gifts | 73,622 | 91,503 | 165,125 | 80,055 | |
| Charitable activities | 2,017 | 29,105 | 31,122 | 36,796 | |
| Grants received | - | 61,032 | 61,032 | 7,925 | |
| Investment income | 1,650 | - | 1,650 | 4,356 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Total | 77,289 | 181,640 | 258,929 | 129,132 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Expenditure | |||||
| Staff costs | 45,325 | 12,030 | 57,355 | 46,425 | |
| Activity expenditure | 23,372 | 22,333 | 45,705 | 64,076 | |
| Governance and support | 3,929 | - | 3,929 | 5,631 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Total | 72,626 | 34,363 | 106,989 | 116,132 | |
| ────── | ─────── | ─────── | ─────── | ||
| Net gain on investments | 2,980 | - | 2,980 | 4,612 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Net income/(expenditure) | 7,643 | 147,277 | 154,920 | 17,612 | |
| Transfers between funds | 10,400 | (10,400) | - | - | |
| ─────── | ─────── | ─────── | ─────── | ||
| Net movement in funds | 18,043 | (136,877) | 154,920 | 17,612 | |
| Reconciliation of funds: | |||||
| Total funds brought forward | 113,284 | 85,114 | 198,398 | 180,786 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Total funds carried forward | 131,327 | 221,991 | 353,318 | 198,398 | |
| ═══════ | ═══════ | ═══════ | ═══════ |
Page 14
ARK COMMUNITY CHURCH SUTTON COLDFIELD
NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 31 MARCH 2021
12 Restricted funds (previous year)
| Stepping | Mission | Leasehold | Total |
|
|---|---|---|---|---|
| Stones | & other | premises | ||
| Income | £ | £ | £ | £ |
| Donations and gifts | - | 1,405 | 90,098 | 91,503 |
| Activity income | 29,105 | - | - | 29,105 |
| Grants received | 525 | - | 60,507 | 61,032 |
| ─────── | ─────── | ─────── | ─────── | |
| Total | 29,630 | 1,405 | 150,605 | 181,640 |
| ─────── | ─────── | ─────── | ─────── | |
| Expenditure | ||||
| Activity expenditure | 8,554 | 3,467 | 10,312 | 22,333 |
| Staff costs | 12,030 | - | - | 12,030 |
| ─────── | ─────── | ─────── | ─────── | |
| Total | 20,584 | 3,467 | 10,312 | 34,363 |
| ─────── | ─────── | ─────── | ─────── | |
| Net movement in funds | 9,046 | (2,062) | 140,293 | 147,277 |
| Transfers re internal charges | (10,400) | - | - | (10,400) |
| Total funds brought forward | 25,864 | 6,682 | 52,568 | 85,114 |
| ─────── | ─────── | ─────── | ─────── | |
| Total funds carried forward | 24,510 | 4,620 | 192,861 | 221,991 |
| ═══════ | ═══════ | ═══════ | ═══════ |
13 Related Party Transactions
Two employees were appointed Trustees during the year and details of their remuneration and expenses under their contracts of employment are as follows;
Stephen Eaves (Pastor) salary £27,990, pension contributions £896. Expenses reimbursed £1,748
Stephanie Jones (Support project leader) Salary £10,557, pension contributions £338. Expenses reimbursed £nil
None of the Trustees received any remuneration or expenses in respect of their office of trustee and there were no other transactions with related parties.
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