ARK COMMUNITY CHURCH SUTTON COLDFIELD
FINANCIAL STATEMENTS
31 MARCH 2023
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 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: BANKERS:
ENQUIRIES:
1161799
CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Stephen Eaves 5a Longmeadow Close Sutton Coldfield B75 7SQ
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 2023. 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 and assistant 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
Ark Community Church continued to provide weekly worship services and live streaming was transferred from FaceBook to YouTube. Regular attendance continued to increase to the extent that the capacity of the hall was insufficient for everyone to meet together at the same time and the lounge could not hold all of the children in comfort. As a result, twin services were implemented from October effectively doubling the space to address this problem. With people joining the fellowship from Hong Kong, Honduras and Ukraine we have needed to provide translation for both adults and children, and we have seen these groups adding greatly to the life and culture of the church family.
The church has continued to offer a range of opportunities for people to pray together. Weekly prayer meetings took place in the church lounge, and there were special times of more prolonged prayer organized such as Pizza and Prayer nights.
The New Year saw an end to the lease held by Four Oaks Boys Club, for the property in Wilmcote Drive. The site was then vacated and left empty whilst the church waited for a suitable community lease to be drawn up. As a result, a few activities were stopped or relocated elsewhere. The Ark Youth group was discontinued following this process.
Page 2
ARK COMMUNITY CHURCH SUTTON COLDFIELD
REPORT OF THE TRUSTEES
ACHIEVEMENTS AND PERFORMANCE (continued)
Children’s work has been very busy and there has needed to be further expansion of the volunteer leaders’ team. There have been several babies and toddlers making use of the creche, Adventurers (for Reception to year 6) and Illuminate (for years 7-13) have also seen numbers increasing. Activity days for children have taken place in school holidays and these have been very successful.
At the beginning of November, our part-time Community Engagement Leader, became a full-time Assistant Pastor. At the same time, the Worship and Tech Leader moved from part to full-time working as well. These developments were in response to the increasing demands of a larger congregation as well as a recognition of the need to invest in developing capability for the future. The positive impact of these changes was very quickly evident.
An Alpha course ran from January to March consisting of both an English and a Cantonese speaking group. More than 60 people were part of the course, which enabled many to understand and embrace the Gospel message for the very first time. The year saw more baptisms take place at Ark than at any previous time in its history, for which we are very thankful to God.
Several community events were organised both at the church and on the Dugdale Crescent Village Green. These events have continued to be successful in bringing members of the local community together to have fun and build friendships. Both interest and attendances have grown significantly, with animal fun days and the Queen’s Platinum Jubilee being particularly successful.
The Grapevine, a weekly coffee morning open to anyone, has continued to provide a place to engage with others and offer something to eat and drink without charge. With increasing financial pressure and fears regarding fuel costs, these events have become increasingly popular, attracting in particular, a large contingent of newly migrated people from Hong Kong
Stepping Stones Projects has gone from strength to strength. Numbers have risen from around 8 postCOVID to around 15. The combination of weekly social interaction, craft activities and exercise sessions continues to meet an unmet need and relationships within the group are growing stronger over time.
The community dance group, Dance it Out!, part of the Kids UK charity have continued to work with Ark to provide powerful performances at church services. Numbers are growing to the extent that there are now two age groups meeting separately each week. The weekly martial Arts classes are also attracting more interest and there are now separate groups for different ages.
The fellowship has continued to benefit from its apostolic relationship with LifeSpring Church, Wolverhampton, with many shared events taking place. The Ark Pastor made a mission trip to India along with pastors from LifeSpring and Emmanuel New Life Church, Burntwood, teaching and preaching to many hundreds of people in rural villages. This further cemented partnership working between the churches. There have been regular LifeSpring Apostolic Family (LAF) Zoom meetings involving Ark leaders connecting with leaders from churches in Zambia, Zimbabwe, India, Nepal and South Africa.
Page 3
ARK COMMUNITY CHURCH SUTTON COLDFIELD
REPORT OF THE TRUSTEES
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. Roger Hughes stood down as Trustee on 20 September 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 in conjunction with the assistant pastor, manages the day-to-day administration 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 also 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 donations and grants in support of activities.
The income for the year was £138,157 an increase of 18% on the previous year following a resumption of full activities after Covid restrictions and an increase in fellowship numbers and visitors. Related expenditure was 31% higher at £145,102 due largely to increased staffing and activity costs.
Overall unrestricted funds increased by £6,088 whilst restricted funds decreased by £13,033 giving a net excess of expenditure over income of £6,945. Trustees have put in place measures to address the deficit going forward.
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.
Page 4
ARK COMMUNITY CHURCH SUTTON COLDFIELD
REPORT OF THE TRUSTEES
FINANCIAL REVIEW (continued)
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 church’s 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 2[nd] August 2023
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 2023, 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 2[nd] August 2023
Page 6
ARK COMMUNITY CHURCH SUTTON COLDFIELD
STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2023
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| funds | funds | funds | 2022 | ||
| Notes | £ | £ | £ | £ | |
| Income | |||||
| Charitable activities | |||||
| Donations and gifts | 2 | 93,562 | 75 | 93,637 | 79,835 |
| Activities and events | 7,543 | 17,309 | 24,852 | 15,195 | |
| Grants received | - | 1,655 | 1,655 | 7,598 | |
| Investment & other income | 18,004 | 9 | 18,013 | 14,715 | |
─────── |
─────── |
─────── |
─────── |
||
| Total | 119,109 | 19,048 | 138,157 | 117,343 | |
─────── |
─────── |
─────── |
─────── |
||
| Expenditure | |||||
| Charitable activities | |||||
| Staff costs | 3 | 68,003 | 9,959 | 77,962 | 60,361 |
| Activities and events | 4 | 43,992 | 19,124 | 63,116 | 47,779 |
| Governance | 5 | 4,024 | - | 4,024 | 1,809 |
─────── |
─────── |
─────── |
─────── |
||
| Total | 116,019 | 29,083 | 145,102 | 109,949 | |
─────── |
─────── |
────── |
─────── |
||
| Net income/(expenditure) | 3,090 | (10,035) | (6,945) | 7,394 | |
| Transfers between funds | 2,998 | (2,998) | - | - | |
─────── |
─────── |
─────── |
─────── |
||
| Net movement in funds | 6,088 | (13,033) | (6,945) | 7,394 | |
| Reconciliation of funds: | |||||
| Total funds brought forward | 161,186 | 221,644 | 382,830 | 375,436 | |
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─────── |
─────── |
─────── |
||
| Total funds carried forward | 167,274 | 208,611 | 375,885 | 382,830 | |
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═══════ |
═══════ |
═══════ |
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 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ |
£ |
£ |
|
| Fixed assets: | |||||
| Tangible assets | 6 | 331,960 | 341,632 | ||
| Current assets | |||||
| Debtors | 7 | 6,841 | 6,534 | ||
| Cash at bank | 27,811 | 32,333 | |||
| Bank deposit | 16,000 | 10,000 | |||
────── |
────── |
||||
| 50,652 | 48,867 | ||||
| Creditors: amounts falling due | |||||
| within one year | 8 | (6,727) | (7,669) | ||
───── |
───── |
||||
| Net current assets | 43,925 | 41,198 | |||
────── |
────── |
||||
| Total net assets | 375,885 | 375,830 | |||
══════ |
══════ |
||||
| Funds of the charity: | |||||
| Unrestricted | 167,274 | 161,186 | |||
| Restricted | 9 | 208,611 | 221,644 | ||
────── |
────── |
||||
| 375,885 | 382,830 | ||||
══════ |
══════ |
The notes on pages 9 to 15 form part of these accounts.
Signed by
Name HELEN THOMSON - Treasurer
Approved by the Trustees on 2[nd] August 2023
Page 8
ARK COMMUNITY CHURCH SUTTON COLDFIELD
STATEMENT OF CASH FLOWS YEAR ENDED 31 MARCH 2023
| STATEMENT OF CASH FLOWS YEAR ENDED 31 MARCH 2023 |
||
|---|---|---|
| 2023 | 2022 | |
| £ |
£ | |
| Cash flows from operating activities: (below) | ||
| Net cash generated/(absorbed) by operating activities |
1,438 | 11,537 |
| _____ | _____ | |
| Cash flows from investing activities: | ||
| Interest from investments |
40 | 365 |
| Purchase of tangible fixed assets (net) |
(-) | (89) |
| _____ | _____ |
|
| Net cash generated by investing activities | 40 | 276 |
| _____ | _____ | |
| Cash flow from financing activities | - |
- |
| _____ | _____ | |
| Change in cash and cash equivalents |
1,478 | 11,813 |
| Cash and cash equivalents at the beginning of the year | 42,333 | 30,520 |
| _____ | _____ | |
| Cash and cash equivalents at the end of the year |
43,811 | 42,333 |
| _____ | _____ |
|
| Reconciliation of net movement in funds to net cash flow | ||
| from operating activities | ||
| Net (expenditure)/income for the year |
(6,945) | 7,394 |
| Adjustments for: | ||
| Depreciation charges |
9,672 | 9,671 |
| Investment income |
(40) | (365) |
| (Increase)/decrease in debtors |
( 307) | (2,629) |
| (Decrease)/increase in creditors |
(942) | (2,535) |
| _____ | _____ | |
| Net cash generated/(absorbed) by operating activities |
1,438 | 11,537 |
| _____ | _____ |
Page 9
ARK COMMUNITY CHURCH SUTTON COLDFIELD
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023
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 10 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 2023
| 2 | Voluntary income | 2023 | 2022 |
|---|---|---|---|
| £ | £ | ||
| Donations and gifts | 75,955 | 64,378 | |
| Gift Aid | 17,682 | 15,457 | |
────── |
───── |
||
| 93,637 | 79,835 | ||
| ═════ | ═════ | ||
| 3 | Staff costs | ||
| Salaries (incl: £9,576, 2022 £12,014 restricted) | 75,162 | 58,228 | |
| Pension costs (incl: £383, 2022 £481 restricted) | 2,800 | 2,133 | |
────── |
───── |
||
| 77,962 | 60,361 | ||
| ═════ | ═════ |
The average number of persons employed was 5 including 2 within Stepping Stones Projects.
4 Activities and events expenditure
| Premises costs | 12,512 | 15,562 | |
|---|---|---|---|
| Depreciation | 9,672 | 9,671 | |
| Ministry and outreach | 4,216 | 2,308 | |
| Youth & children | 1,217 | 837 | |
| Other activities and events | 12,517 | 3,414 | |
| Hospitality | 2,369 | 1,405 | |
| Mission and giving | 13,945 | 10,063 | |
| Office expenses | 2,025 | 1,211 | |
| Equipment | 2,229 | 1,533 | |
| Other costs | 2,414 | 1,775 | |
────── |
───── |
||
| 63,116 | 47,779 | ||
══════ |
═════ |
||
| 5 | Governance and support | ||
| Membership & compliance costs | 773 | 932 | |
| Insurance | 997 | 877 | |
| Legal costs | 2,254 | - | |
| Independent examiners fees | - | - | |
─────── |
─────── |
||
| 4,024 | 1,809 | ||
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Page 11
ARK COMMUNITY CHURCH SUTTON COLDFIELD
NOTES TO THE FINANCIAL SATEMENTS (continued) YEAR ENDED 31 MARCH 2023
| 6 | Fixed assets | |||
|---|---|---|---|---|
| Leasehold | Equipment |
Total | ||
| improvements | ||||
| & fixtures | ||||
| £ | £ | £ | ||
| Cost | ||||
| At beginning of year | 414,906 | 11,720 | 426,626 | |
| Additions | - | - | - | |
| Disposals | ( -) | ( -) |
( -) |
|
─────── |
─────── |
────── |
||
| At end of year | 414,906 | 11,720 | 426,626 | |
─────── |
─────── |
────── |
||
| Depreciation | ||||
| At beginning of year | 73,851 | 11,143 | 84,994 | |
| Charge for the year | 9,382 | 290 | 9,672 | |
| On disposals | ( -) |
( -) | ( -) |
|
─────── |
─────── |
─────── |
||
| At end of year | 83,233 | 11,433 | 94,666 | |
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─────── |
─────── |
||
| Net Book Value -31 March 2023 | 331,673 | 287 | 331,960 | |
═══════ |
═══════ |
═══════ |
||
| Net Book Value – 31 March 2022 | 341,054 | 578 | 341,632 |
|
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═══════ |
══════ |
||
| 7 | Debtors | 2023 | 2022 | |
| £ | £ | |||
| Gift Aid receivable | 4,693 | 3,772 | ||
| Amounts due for activities | 1,365 | 2,262 | ||
| Other debtors | 783 | 500 | ||
───── |
───── |
|||
| 6,841 | 6,534 | |||
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═════ |
Page 12
ARK COMMUNITY CHURCH SUTTON COLDFIELD
NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 31 MARCH 2023
8 |
Creditors | 2023 | 2022 | ||
|---|---|---|---|---|---|
| £ | £ | ||||
| Accruals & other creditors | 6,727 | 7,669 | |||
═════ |
════ | ||||
| 9 | Restricted funds | ||||
| Stepping | Other | Leasehold | Total | ||
| Stones | premises | ||||
| Income |
£ | £ | £ | £ | |
| Voluntary income | - | 718 | - | 718 | |
| Grants received | - | 1,055 | - | 1,055 | |
| Activity income | 13,180 | 4,086 | - | 17,266 | |
| Interest | 9 | - | - | 9 | |
─────── |
─────── |
─────── |
─────── |
||
| Total | 13,189 | 5,859 | - | 19,048 | |
─────── |
─────── |
─────── |
─────── |
||
| Expenditure | |||||
| Staff costs | 9,959 | - | - | 9,959 | |
| Activity costs | 724 | 9,018 | 9,382 | 19,124 | |
─────── |
─────── |
─────── |
─────── |
||
| Total | 10,683 | 9,018 | 9,382 | 29,083 | |
─────── |
─────── |
─────── |
─────── |
||
| Net movement in funds | 2,506 | (3,159) | (9,382) | (10,035) | |
| Transfers re internal charges | (2,570) | (428) | - |
(2,998) | |
| Total funds brought forward | 22,132 | 7,922 | 191,590 | 221,644 | |
─────── |
─────── |
─────── |
─────── |
||
| Total funds carried forward | 22,068 | 4,335 | 182,208 | 208,611 | |
═══════ |
═══════ |
═══════ |
═══════ |
||
| 10 | Analysis of net assets between funds | ||||
| Unrestricted | Restricted | Total | |||
| Funds | Funds | Assets | |||
| £ | £ | £ | |||
| Fixed assets | 144,356 | 187,604 | 331,960 | ||
| Cash and bank balances and deposits | 23,944 | 19,867 | 43,811 | ||
| Other current assets less liabilities | (1,026) | 1,140 | 114 | ||
─────── |
─────── |
─────── |
|||
| 167,274 | 208,611 | 375,885 | |||
═══════ |
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Page 13
ARK COMMUNITY CHURCH SUTTON COLDFIELD
NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 31 MARCH 2023
11 Statement of Financial Activities (previous year)
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| funds | funds | funds | 2022 | ||
| Notes | £ | £ | £ | £ | |
| Income | |||||
| Charitable activities | |||||
| Voluntary income | 77,542 | 2,293 | 79,835 | 90,580 | |
| Activities and events | 1,393 | 13,802 | 15,195 | 3,137 | |
| Grants received | - | 7,598 | 7,598 | 19,916 | |
| Investment and other income | 14,715 | - | 14,715 | 1,361 | |
─────── |
─────── |
─────── |
─────── |
||
| Total | 93,650 | 23,693 | 117,343 | 114,994 | |
─────── |
─────── |
─────── |
─────── |
||
| Expenditure | |||||
| Charitable activities | |||||
| Staff costs | 47,866 | 12,495 | 60,361 | 60,254 | |
| Activities and events | 32,232 | 14,922 | 47,154 | 30,734 | |
| Governance | 2,434 | - | 2,434 | 1,888 | |
─────── |
─────── |
─────── |
─────── |
||
| Total | 82,592 | 27,417 | 109,949 | 92,876 | |
────── |
─────── |
─────── |
─────── |
||
| Net gain on investments | - | - | - | 2,980 | |
─────── |
─────── |
─────── |
─────── |
||
| 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 | 221,664 | 375,830 | 375,436 | |
═══════ |
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Page 14
ARK COMMUNITY CHURCH SUTTON COLDFIELD
NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 31 MARCH 2023
12 Restricted funds (previous year)
| Stepping | Other | Leasehold | Total |
|
|---|---|---|---|---|
| Stones | premises | |||
| Income | £ | £ | £ | £ |
| Donations and gifts | - | 2,293 | - | 2,293 |
| Activity income | 13,576 | 226 | - | 13,802 |
| Grants received | 5,298 | 2,300 | - | 7,598 |
─────── |
─────── |
─────── |
─────── |
|
| Total | 18,874 | 4,819 | - | 23,693 |
─────── |
─────── |
─────── |
─────── |
|
| Expenditure | ||||
| Staff costs | 12,495 | . - | - | 12,495 |
| Activity costs | 808 | 4,733 | 9,381 | 14,922 |
─────── |
─────── |
─────── |
─────── |
|
| 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 |
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|
| Total funds carried forward | 22,132 | 7,922 | 191,590 | 221,644 |
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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 £30,684 pension contributions £1,309.
Stephanie Jones (Support project leader) Salary £5,796 pension contributions £247.
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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