ARK COMMUNITY CHURCH SUTTON COLDFIELD
FINANCIAL STATEMENTS
31 MARCH 2022
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 Chan Naraine Neil Spencer Helen Thomson Chris Woods Stephen Eaves
ELDERS. Roger Hughes Lynn Jennings Helen Thomson
SECRETARY: TREASURER
John Walker Stephanie Jones Helen Thomson
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 2022. 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 church has continued to provide weekly worship services both in person (when COVID-19 restrictions would allow) and via live stream. Regular attendance increased significantly as a result of young families choosing to migrate into the area from Hong Kong. The year was notable for the strengthening of the team of elders and the appointment of a part-time Worship and Technology Leader who has developed the current worship team and improved the functioning of live streaming, song recording and communications via social media.
The church has continued to offer a range of opportunities for people to pray together. Early morning Zoom meetings have avoided the need to travel, however, many have preferred to come together physically to pray and this has happened frequently.
Youth work has continued and the facilities at the Four Oaks Boys Club site have been of great benefit, enabling those attending to play sports inside the gym or do group activities in the club house. The children, who are of secondary school age have had a number of special events together including film nights, bowling and ice-skating evenings.
Children’s work has been very busy both within and outside of Sunday services. Increases in child numbers has required an expansion of the volunteer leaders team. Although there has been no need for a creche, Adventurers (for Reception to year 6) and Illuminate (for years 7-13) have attracted more children than ever before. Links with the local primary school has led to needy families being supported with special “Fun Days” during the Summer break and some families have been followed up with home visits and invitations to other activities.
Page 2
ARK COMMUNITY CHURCH SUTTON COLDFIELD
REPORT OF THE TRUSTEES
ACHIEVEMENTS AND PERFORMANCE (continued)
Our part-time Community Engagement Leader has spent time teaching Religious Education at Mere Green Primary School. After School, she has (along with other volunteers) taken some pupils, badly affected by social deprivation during the Covid lockdowns, to work together on a local allotment to rebuild their self-confidence.
The Community Engagement Leader has also been very involved with the Allotment Association, Active Citizens, Street Watch as well as the Dugdale Crescent “Friends of the Green” group which was successful in gaining village green status for the open ground where the church regularly organises community events. These events have continued to be successful in bringing members of the local community together to have fun and build friendships. The church Open Day saw over 200 people visit our newly extended premises, many for the first time.
A weekly event for local residents recommenced in June. Grapevine is open to anyone and everyone, providing a place to engage with others and have something to eat and drink without charge. Many have found this a valuable time to re-connect with others. These two-hour sessions have become increasingly popular.
Stepping Stones Projects re-launched following COVID lockdowns, but with stringent regulations related to food preparation involving adults with additional needs, lunchtime cafes have been unable to reopen. Despite this, service users have been offered weekly social interaction, craft activities and exercise sessions, which have been well attended. New service users and volunteers have added to the size of this popular group.
The charity KidsUK have worked with Ark to provide a community dance group (Dance it Out!) who meet at the church on Saturdays. Many of the participants have suffered with low self-esteem or mental health issues, and dancing has helped address this along with the coaching and emotional support on offer from the leaders. Similarly, the church now offers a weekly martial Arts training, to provide children and adults with an opportunity to build their self-confidence, fitness and self-discipline.
The use of the Four Oaks Boys Club buildings in Wilmcote Drive (just 150m from Ark) has been extremely beneficial for a number of different groups and charities. Ark have taken responsibility for these premises, and along with maintaining them and making minor improvements, have allowed the rooms for use by: Hope Food, New Life Family (RCCG) Church, KidsUK, Ark Youth and Temple Martial Arts.
Ark has taken over responsibility for providing a telephone based Befriending Service to isolated individuals within the local area. This group, which began during lockdown, is formed of around a dozen volunteers who regularly make calls to people offering friendship, encouragement and support. Although the volunteers mostly do not attend the church, the values and purpose of the service are consistent with those of the charity. Ark has provided the team with advice and access to training, funding applications and in safeguarding.
Page 3
ARK COMMUNITY CHURCH SUTTON COLDFIELD
REPORT OF THE TRUSTEES
ACHIEVEMENTS AND PERFORMANCE (continued)
The fellowship has continued to benefit from its apostolic relationship with LifeSpring Church, Wolverhampton, with many shared events taking place. The connection with them has grown and has led to regular LifeSpring Apostolic Family (LAF) Zoom meetings linking Ark with churches in Zambia, Zimbabwe, India and Nepal. LifeSpring has worked hard to revive a failing church in Burntwood over the past year, and members of Ark have attended numerous meetings there and one couple have been released to join that fellowship. Emmanuel New Life Church, Burntwood now has new leaders and is thriving as the third part of LAF in the Midlands region, along with Ark and LifeSpring.
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. Trevor Jones and Ella Quarrel stood down as Trustees on 22 September 2021 and Chris Philips stood down on 12 January 2022.
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.
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.
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 activities.
The underlying income for the unrestricted fund was 16% higher at £93,650 due principally to income arising from resumed activities. Related expenditure was 28% higher at £82,532 following activities returning to pre pandemic levels. Restricted fund income was lower at £23,693 (2021 £34,512) as a result of the completion of the building fund appeal. Corresponding expenditure was £27,417 (2021 £28,735.
Overall unrestricted funds increased by £13,518 whilst restricted funds decreased by £6,124.
Page 4
ARK COMMUNITY CHURCH SUTTON COLDFIELD
REPORT OF THE TRUSTEES
FINANCIAL REVIEW (continued)
Reserves policy
The trustees seek to limit unrestricted funds and restricted funds in respect of its Stepping Stones projects to no more than two year’s budgeted regular expenditure. They aim to apply mission and other restricted reserves to the specific activities within a twelve-month period.
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.
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 20[th] September 2022
Helen Thomson 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 2022, 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 20[th] September 2022
Page 6
ARK COMMUNITY CHURCH SUTTON COLDFIELD
STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2022
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| funds | funds | funds | 2021 | ||
| Notes | £ | £ | £ | £ | |
| Income | |||||
| Donations and gifts | 2 | 77,542 | 2,293 | 79,835 | 90,580 |
| Charitable activities | 15,743 | 13,802 | 29,545 | 3,137 | |
| Grants received | - | 7,598 | 7,598 | 19,916 | |
| Investment & other income | 365 | - | 365 | 1,361 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Total | 93,650 | 23,693 | 117,343 | 114,994 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Expenditure | |||||
| Staff costs | 3 | 47,866 | 12,495 | 60,361 | 60,254 |
| Activity expenditure | 4 | 31,942 | 14,922 | 46,864 | 30,734 |
| Governance and support | 5 | 2,724 | - | 2,724 | 1,888 |
| ─────── | ─────── | ─────── | ─────── | ||
| Total | 82,532 | 27,417 | 109,949 | 92,876 | |
| ─────── | ─────── | ────── | ─────── | ||
| Net income/(expenditure) | 11,118 | (3,724) | 7,394 | 22,118 | |
| Transfers between funds | 2,400 | (2,400) | - | - | |
| ─────── | ─────── | ─────── | ─────── | ||
| Net movement in funds | 13,518 | (6,124) | 7,394 | 22,118 | |
| Reconciliation of funds: | |||||
| Total funds brought forward | 147,668 | 227,768 | 375,436 | 353,318 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Total funds carried forward | 161,186 | 221,644 | 382,830 | 375,436 | |
| ═══════ | ═══════ | ═══════ | ═══════ |
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 2022
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ |
£ |
£ |
|
| Fixed assets: | |||||
| Tangible assets | 6 | 341,632 | 351,215 | ||
| Current assets | |||||
| Debtors | 7 | 6,534 | 3,905 | ||
| Cash at bank | 32,333 | 20,437 | |||
| Bank deposit | 10,000 | 10,083 | |||
| ────── | ────── | ||||
| 48,867 | 34,425 | ||||
| Creditors: amounts falling due | |||||
| within one year | 8 | (7,669) | (10,204) | ||
| ───── | ───── | ||||
| Net current assets | 41,198 | 24,221 | |||
| ────── | ────── | ||||
| Total net assets | 382,830 | 375,436 | |||
| ══════ | ══════ | ||||
| Funds of the charity: | |||||
| Unrestricted | 161,186 | 147,668 | |||
| Restricted | 9 | 221,644 | 227,768 | ||
| ────── | ────── | ||||
| 382,830 | 375,436 | ||||
| ══════ | ══════ |
The notes on pages 9 to 15 form part of these accounts. Signed by
Name HELEN THOMSON - Treasurer
Approved by the Trustees on 20[th] September 2022
Page 8
ARK COMMUNITY CHURCH SUTTON COLDFIELD
STATEMENT OF CASH FLOWS YEAR ENDED 31 MARCH 2022
| STATEMENT OF CASH FLOWS YEAR ENDED 31 MARCH 2022 |
||
|---|---|---|
| 2022 | 2021 | |
| £ |
£ | |
| Cash flows from operating activities: (below) | ||
| Net cash generated/(absorbed) by operating activities |
11,537 | (2,081) |
| _____ | _____ | |
| Cash flows from investing activities: | ||
| Interest from investments |
365 | 1,361 |
| Purchase of tangible fixed assets (net) |
(89) |
(115,718) |
| _____ | _____ |
|
| Net cash (used)/generated by investing activities |
276 |
(114,357) |
| _____ | _____ | |
| Cash flow from financing activities | - |
- |
| _____ | _____ | |
| Change in cash and cash equivalents |
11,813 | (116,438) |
| Cash and cash equivalents at the beginning of the year | 30,520 | 146,958 |
| _____ | _____ | |
| Cash and cash equivalents at the end of the year |
42,333 | 30,520 |
| _____ | _____ |
|
| Reconciliation of net movement in funds to net cash flow | ||
| from operating activities | ||
| Net income for the year |
7,394 | 22,118 |
| Adjustments for: | ||
| Depreciation charges |
9,672 | 10,492 |
| Investment income |
(365) | (1,361) |
| (Increase)/decrease in debtors |
(2,629) | 8,566 |
| (Decrease)/increase in creditors |
(2,535) | (41,896) |
| _____ | _____ | |
| Net cash generated/(absorbed) by operating activities |
11,537 | (2,081) |
| _____ | _____ |
Page 9
ARK COMMUNITY CHURCH SUTTON COLDFIELD
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022
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 2022
| 2 | Donations and gifts | 2022 | 2021 |
|---|---|---|---|
| £ | £ | ||
| Donations and gifts from individuals (incl: £2,293 | |||
| 2021 £14,596 restricted funds) | 64,378 | 72,806 | |
| Gift Aid | 15,457 | 17,774 | |
| ────── | ───── | ||
| 79,835 | 90,580 | ||
| ═════ | ═════ | ||
| 3 | Staff costs | ||
| Salaries (incl: £12,014, 2021 £14,400 restricted) | 58,228 | 58,074 | |
| Pension costs (incl: £481, 2021 £655 restricted) | 2,133 | 2,180 | |
| ────── | ───── | ||
| 60,361 | 60,254 | ||
| ═════ | ═════ | ||
| The average number of persons employed was 5 including | 2 within Stepping | Stones Projects. | |
| 4 | Activity expenditure | ||
| Premises costs (unrestricted) | 15,562 |
5,554 | |
| Stepping Stones activity expenditure (restricted) | 808 | 410 | |
| Mission giving (incl: £1,863, 2021 £2,508 restricted) | 10,063 | 7,758 | |
| Ministry and outreach (incl: £2,870, 2021 £454 restricted) | 9,517 | 5,936 | |
| Equipment | 1,533 | 768 | |
| Depreciation (restricted) | 9,381 | 10,308 | |
| ────── | ───── | ||
| 46,864 | 30,734 | ||
| ══════ | ═════ | ||
| 5 | Governance and support | ||
| Membership & compliance costs | 932 | 749 | |
| Depreciation | 290 | 184 | |
| Training & other costs | 625 | 90 | |
| Insurance | 877 | 865 | |
| Independent examiners fees | - | - | |
| Trustees expenses | - | - | |
| ─────── | ─────── | ||
| 2,724 | 1,888 | ||
| ═══════ | ══════ |
Page 11
ARK COMMUNITY CHURCH SUTTON COLDFIELD
NOTES TO THE FINANCIAL SATEMENTS (continued) YEAR ENDED 31 MARCH 2022
| 6 | Fixed assets | |||
|---|---|---|---|---|
| Leasehold | Equipment |
Total | ||
| improvements | ||||
| & fixtures | ||||
| £ | £ | £ | ||
| Cost | ||||
| At beginning of year | 415,317 | 11,220 | 426,537 | |
| Additions | - | 500 | 500 | |
| Disposals | ( 411) | ( -) |
( 411) |
|
| ─────── | ─────── | ────── | ||
| At end of year | 414,906 | 11,720 | 426,626 | |
| ─────── | ─────── | ────── | ||
| Depreciation | ||||
| At beginning of year | 64,470 | 10,852 | 75,322 | |
| Charge for the year | 9,381 | 291 | 9,672 | |
| On disposals | ( -) |
( -) | ( -) |
|
| ─────── | ─────── | ─────── | ||
| At end of year | 73,851 | 11,143 | 84,994 | |
| ─────── | ─────── | ─────── | ||
| Net Book Value -31 March 2022 | 341,054 | 578 | 341,632 | |
| ═══════ | ═══════ | ═══════ | ||
| Net Book Value – 31 March 2021 | 350,847 | 368 | 351,215 |
|
| ═══════ | ═══════ | ══════ | ||
| 7 | Debtors | 2022 | 2021 | |
| £ | £ | |||
| Gift Aid receivable | 3,772 | 3,537 | ||
| Amounts due for activities | 2,262 | - | ||
| Other debtors | 500 | 368 | ||
| ───── | ───── | |||
| 6,534 | 3,905 | |||
| ═════ | ═════ |
Page 12
ARK COMMUNITY CHURCH SUTTON COLDFIELD
NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 31 MARCH 2022
8 |
Creditors | 2022 | 2021 | ||
|---|---|---|---|---|---|
| £ | £ | ||||
| Accruals & other creditors | 7,669 | 10,204 | |||
| ═════ | ════ | ||||
| 9 | Restricted funds | ||||
| Stepping | Mission | Leasehold | Total | ||
| Stones | & other | premises | |||
| Income |
£ | £ | £ | £ | |
| Donations and gifts | - | 2,293 | - | 2,293 | |
| Grants received | 5,298 | 2,300 | - | 7,598 | |
| Activity income | 13,576 | 226 | - | 13,802 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Total | 18,874 | 4,819 | - | 23,693 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Expenditure | |||||
| Activity expenditure | 808 | 4,733 | 9,381 | 14,922 | |
| Staff costs | 12,495 | - | - | 12,495 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Total | 13,303 | 4,733 | 9,381 | 27,417 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Net movement in funds | 5,571 | 86 | (9,381) | (3,724) | |
| Transfers re internal charges | (2,400) | - | - | (2,400) | |
| Total funds brought forward | 18,961 | 7,836 | 200,971 | 227,768 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Total funds carried forward | 22,132 | 7,922 | 191,590 | 221,644 | |
| ═══════ | ═══════ | ═══════ | ═══════ | ||
| 10 | Analysis of net assets between funds | ||||
| Unrestricted | Restricted | Total | |||
| Funds | Funds | Assets | |||
| £ | £ | £ | |||
| Fixed assets | 119,988 | 221,644 | 341,632 | ||
| Cash and bank balances and deposits | 42,333 | - | 42,333 | ||
| Other current assets less liabilities | (1,135) | (-) | (1,135) | ||
| ─────── | ─────── | ─────── | |||
| 161,186 | 221,644 | 382,830 | |||
| ═══════ | ═══════ | ══════ |
Page 13
ARK COMMUNITY CHURCH SUTTON COLDFIELD
NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 31 MARCH 2022
11 Statement of Financial Activities (previous year)
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| funds | funds | funds | 2020 | ||
| Notes | £ | £ | £ | £ | |
| Income | |||||
| Donations and gifts | 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 income | 1,361 | - | 1,361 | 1,650 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Total | 80,482 | 34,512 | 114,994 | 258,929 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Expenditure | |||||
| Staff costs | 45,199 | 15,055 | 60,254 | 57,355 | |
| Activity expenditure | 17,054 | 13,680 | 30,734 | 45,705 | |
| Governance and support | 1,888 | - | 1,888 | 3,929 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Total | 64,147 | 28,735 | 92,876 | 106,989 | |
| ────── | ─────── | ─────── | ─────── | ||
| Net gain on investments | - | - | - | 2,980 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Net income/(expenditure) | 16,344 | 5,777 | 22,118 | 154,920 | |
| Transfers between funds | - | (-) | - | - | |
| ─────── | ─────── | ─────── | ─────── | ||
| Net movement in funds | 16,344 | 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 | |
| ═══════ | ═══════ | ═══════ | ═══════ |
Page 14
ARK COMMUNITY CHURCH SUTTON COLDFIELD
NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 31 MARCH 2022
12 Restricted funds (previous year)
| Stepping | Mission | Leasehold | Total |
|
|---|---|---|---|---|
| Stones | & other | premises | ||
| Income | £ | £ | £ | £ |
| Donations and gifts | - | 6,178 | 8,418 | 14,596 |
| Activity income | - | - | - | - |
| Grants received | 14,916 | - | 5,000 | 19,916 |
| ─────── | ─────── | ─────── | ─────── | |
| 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 |
| ═══════ | ═══════ | ═══════ | ═══════ |
13 Related Party Transactions
Two employees were Trustees during the year and details of their remuneration and expenses under their contracts of employment are as follows;
Stephen Eaves (Pastor) salary £29,220 pension contributions £1,168. Expenses reimbursed £2,418.
Stephanie Jones (Support project leader) Salary £7,680 pension contributions £307. 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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