ARK COMMUNITY CHURCH SUTTON COLDFIELD
FINANCIAL STATEMENTS
31 MARCH 2024
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 Stephanie Jones Neil Spencer Helen Thomson Chris Woods Mang (Kendell) Yiu Stephen Eaves
ELDERS: Lynn Jennings Helen Thomson SECRETARY: Stephanie Jones TREASURER: Helen Thomson
SECRETARY: TREASURER:
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 2024. 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 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 two worship services each Sunday with live streaming of the second via YouTube. Regular attendance remained high, justifying the need for twin services due to limited space. The church has continued to attract people from other nations and translation materials have been provided to help understanding for both adults and children.
Ten Growth Groups were established to offer mid-week meetings in homes. Training and encouragement were provided to enable leaders to facilitate these groups as an essential part of the spiritual strengthening and support to members of the fellowship.
After 10 years of serving the church full-time, the Pastor was given a two-month Sabbatical break during which he visited the Holy Land. Whilst he was away, the Assistant Pastor, supported by others, helped to ensure that the fellowship continued to function fully and advance in all areas.
Leadership team away days have also been of great benefit in building the team and in formulating plans for further development of the church.
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 was a season of 40 days of prayer as well as dedicated Prayer Nights.
Page 2
ARK COMMUNITY CHURCH SUTTON COLDFIELD
REPORT OF THE TRUSTEES
ACHIEVEMENTS AND PERFORMANCE (continued)
Children’s work has continued to thrive requiring the appointment of a Youth and Children’s Leader (part-time). Parents with babies and toddlers have made use of the creche, and programmes of engaging sessions have continued for Adventurers (reception to year 6) and Illuminate (years 7-13) have also seen numbers increasing. Special activities for children have taken place in school holidays and have proved very successful.
A number of community events were organized 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 an animal fun day, a King’s Coronation Event and Lord Mayor’s Celebration being some of the highlights.
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. Grant money to support heating costs has been greatly appreciated to help enable this important service to remain free of charge to the community.
Weekly conversational English classes (Time to Talk) have been well attended, developing into two classes of differing ability, both run by volunteers. Assistant Pastor worked alongside Birmingham Centre for Art Therapy to provide talking therapy through art for the improvement of mental wellbeing of people from Ukraine and Hong Kong nationals. The Fun Factory (weekly parent and toddler group) was set up with the support of grant money and a group of multi-cultural volunteers
Stepping Stones Projects has gone from strength to strength and numbers have continued to rise. The combination of weekly social interaction, craft activities and exercise sessions for adults with additional needs continues to meet an unmet need and relationships within the group are growing stronger over time.
The community dance group, DanceItOut, part of the Kids UK charity have continued to work with Ark to provide powerful performances at church services. There continued to be two age groups meeting separately each week. The weekly martial Arts classes are also going strong with good weekly attendances from both within and outside of the church community.
Church services have taken place each Saturday evening in Cantonese for anyone from Hong Kong struggling with English. These meetings are led by a Pastor from Hong Kong and attract a wide attendance from across the area for worship, fellowship and food. The Spiritual Leadership Team (elders) met regularly with this pastor to offer support and encouragement.
The fellowship has continued to benefit from its apostolic relationship with LifeSpring Church, Wolverhampton, with many shared events taking place.
Page 3
ARK COMMUNITY CHURCH SUTTON COLDFIELD
REPORT OF THE TRUSTEES
ACHIEVEMENTS AND PERFORMANCE (continued)
The Worship and Tech Leader as well as the Pastor regularly visit both LifeSpring and Emmanuel New Life Churches, in Wolverhampton and Burntwood respectively to meet, minister and teach in various ways. There have continued to be regular LifeSpring Apostolic Family (LAF) Zoom meetings involving Ark leaders connecting with leaders from churches in Mozambique, Zimbabwe, India, Nepal, and South Africa. Pastors from these nations have visited Ark Community Church and attended an international conference together in Wolverhampton.
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. Mike Hew and Chan Naraine resigned as trustees and Kendell Yiu was appointed a trustee on 11 June 2024.
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
Voluntary donations and gifts increased over 50% from 2023 mainly as a result of an increase in regular fellowship numbers and visitors. More church activities and events also attracted income from donations and grants. Overall, the income for the year was up 60% on the previous year at £220,280, Expenditure was also significantly higher (+18%) at £170,374 due largely to an increase in staff numbers.
Overall unrestricted funds increased by £52,601 and restricted funds decreased by £2,695 giving a net overall excess of income over expenditure of £49,906 (2023 deficit of £6,945).
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 their Stepping Stones projects to no more than two year’s budgeted regular expenditure. They aim to apply missions 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 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 their 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 9 September 2024
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 2024, 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 9 September 2024
Page 6
ARK COMMUNITY CHURCH SUTTON COLDFIELD
STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2024
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| funds | funds | funds | 2023 | ||
| Notes | £ | £ | £ | £ | |
| Income | |||||
| Charitable activities | |||||
| Donations and legacies | 2 | 145,892 | 1,510 | 147,402 | 93,637 |
| Activities and events | 13,016 | 27,669 | 40,685 | 24,852 | |
| Grants received | 17,620 | - | 17,620 | 1,655 | |
| Investment & other income | 14,558 | 15 | 14,573 | 18,013 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Total | 191,086 | 29,194 | 220,280 | 138,157 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Expenditure | |||||
| Charitable activities | |||||
| Staff costs | 3 | 92,461 | 14,364 | 106,825 | 77,962 |
| Activities and events | 4 | 47,110 | 14,425 | 61,535 | 63,116 |
| Governance | 5 | 2,014 | - | 2,014 | 4,024 |
| ─────── | ─────── | ─────── | ─────── | ||
| Total | 141,585 | 28,789 | 170,374 | 145,102 | |
| ─────── | ─────── | ────── | ─────── | ||
| Net income/(expenditure) | 49,501 | 405 | 49,906 | (6,945) | |
| Transfers between funds | 3,100 | (3,100) | - | - | |
| ─────── | ─────── | ─────── | ─────── | ||
| Net movement in funds | 52,601 | (2,695) | 49,906 | (6,945) | |
| Reconciliation of funds: | |||||
| Total funds brought forward | 167,274 | 208,611 | 375,885 | 382,830 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Total funds carried forward | 219,875 | 205,916 | 425,791 | 375,885 | |
| ═══════ | ═══════ | ═══════ | ═══════ |
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 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ |
£ |
£ |
|
| Fixed assets: | |||||
| Tangible assets | 6 | 322,290 | 331,960 | ||
| Current assets | |||||
| Debtors | 7 | 12,105 | 6,841 | ||
| Cash at bank | 36,132 | 27,811 | |||
| Bank deposit | 61,000 | 16,000 | |||
| ────── | ────── | ||||
| 109,237 | 50,652 | ||||
| Creditors: amounts falling due | |||||
| within one year | 8 | (5,736) | (6,727) | ||
| ───── | ───── | ||||
| Net current assets | 103,501 | 43,925 | |||
| ────── | ────── | ||||
| Total net assets | 425,791 | 375,885 | |||
| ══════ | ══════ | ||||
| Funds of the charity: | |||||
| Unrestricted | 219,875 | 167,274 | |||
| Restricted | 9 | 205,916 | 208,611 | ||
| ────── | ────── | ||||
| 425,791 | 375,885 | ||||
| ══════ | ══════ |
The notes on pages 9 to 15 form part of these accounts. Signed by
Name HELEN THOMSON - Treasurer
Approved by the Trustees on 9 September 2024
Page 8
ARK COMMUNITY CHURCH SUTTON COLDFIELD
| STATEMENT OF CASH FLOWS | ||
|---|---|---|
| YEAR ENDED 31 MARCH 2024 | ||
| 2024 | 2023 | |
| £ |
£ | |
| Cash flows from operating activities: (below) | ||
| Net cash generated by operating activities |
52,913 | 1,438 |
| _____ | _____ | |
| Cash flows from investing activities: | ||
| Interest from investments |
408 | 40 |
| Purchase of tangible fixed assets |
(-) | (-) |
| _____ | _____ |
|
| Net cash generated by investing activities | 408 | 40 |
| _____ | _____ | |
| Cash flow from financing activities | - |
- |
| _____ | _____ | |
| Change in cash and cash equivalents |
53,321 | 1,478 |
| Cash and cash equivalents at the beginning of the year | 43,811 | 42,333 |
| _____ | _____ | |
| Cash and cash equivalents at the end of the year |
97,132 | 43,811 |
| _____ | _____ |
|
| Reconciliation of net movement in funds to net cash flow | ||
| from operating activities | ||
| Net income /(expenditure)for the year |
49,906 | (6,945) |
| Adjustments for: | ||
| Depreciation charges |
9,670 | 9,672 |
| Investment income |
(408) | (40) |
| (Increase)/decrease in debtors |
(5,264) | (307) |
| (Decrease)/increase in creditors |
( 991) | (942) |
| _____ | _____ |
|
| Net cash generated by operating activities |
52,913 | 1,438 |
| _____ | _____ |
Page 9
ARK COMMUNITY CHURCH SUTTON COLDFIELD
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024
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 2024
| 2 | Donations and legacies | 2024 | 2023 |
|---|---|---|---|
| £ | £ | ||
| Donations and legacies | 120,288 | 75,955 | |
| Gift Aid | 25,604 | 17,682 | |
| ────── | ───── | ||
| 145,892 | 93,637 | ||
| ═════ | ═════ | ||
| 3 | Staff costs | ||
| Salaries (incl: £14,028, 2023 £9,576 restricted) | 103,203 | 75,162 | |
| Pension costs (incl: £402, 2023 £383 restricted) | 3,622 | 2,800 | |
| ────── | ───── | ||
| 106,825 | 77,962 | ||
| ═════ | ═════ |
The average number of persons employed was 7 including 3 within Stepping Stones Projects.
4 Activities and events expenditure
| Premises costs | 9,774 | 12,512 | |
|---|---|---|---|
| Depreciation | 9,670 | 9,672 | |
| Ministry and outreach | 5,549 | 4,216 | |
| Youth & children | 3,878 | 1,217 | |
| Events and other activities costs | 14,576 | 12,517 | |
| Hospitality | 1,456 | 2,369 | |
| Mission and giving | 13,320 | 13,945 | |
| Office expenses | 2,284 | 2,025 | |
| Equipment | 2,130 | 2,229 | |
| Other costs | 1,998 | 2,414 | |
| ────── | ───── | ||
| 64,635 | 63,116 | ||
| ══════ | ═════ | ||
| 5 | Governance and support | ||
| Membership & compliance costs | 963 | 773 | |
| Insurance | 1,038 | 997 | |
| Legal costs | 13 | 2,254 | |
| Independent examiners fees | - | - | |
| ─────── | ─────── | ||
| 2,014 | 4,024 | ||
| ═══════ | ══════ |
Page 11
ARK COMMUNITY CHURCH SUTTON COLDFIELD
NOTES TO THE FINANCIAL SATEMENTS (continued) YEAR ENDED 31 MARCH 2024
| 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 | 83,233 | 11,433 | 94,666 | |
| Charge for the year | 9,383 | 287 | 9,670 | |
| On disposals | ( -) |
( -) | ( -) |
|
| ─────── | ─────── | ─────── | ||
| At end of year | 92,616 | 11,720 | 104,336 | |
| ─────── | ─────── | ─────── | ||
| Net Book Value -31 March 2024 | 322,290 | - | 322,290 | |
| ═══════ | ═══════ | ═══════ | ||
| Net Book Value – 31 March 2023 | 331,673 | 287 | 331,960 |
|
| ═══════ | ═══════ | ══════ | ||
| 7 | Debtors | 2024 | 2023 | |
| £ | £ | |||
| Gift Aid receivable | 9,655 | 4,693 | ||
| Amounts due for activities | 2,150 | 1,365 | ||
| Other debtors | 300 | 783 | ||
| ───── | ───── | |||
| 12,105 | 6,841 | |||
| ═════ | ═════ |
Page 12
ARK COMMUNITY CHURCH SUTTON COLDFIELD
NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 31 MARCH 2024
8 |
Creditors | 2024 | 2023 | ||
|---|---|---|---|---|---|
| £ | £ | ||||
| Accruals & other creditors | 5,736 | 6,727 | |||
| ═════ | ════ | ||||
| 9 | Restricted funds | ||||
| Stepping | Other | Leasehold |
Total | ||
| Stones | premises | ||||
| Income | £ | £ | £ |
£ | |
| Voluntary income | 350 | 1,160 | - |
1,510 | |
| Grants received | - | - | - |
- | |
| Activity income | 24,905 | 2,764 | - |
27,669 | |
| Interest | 15 | - | - |
15 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Total | 25,270 | 3,924 | - |
29,194 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Expenditure | |||||
| Staff costs | 14,364 | - | - |
14,364 | |
| Activity costs | 1,383 | 3,660 | 9,382 | 14,425 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Total | 15,747 | 3,660 | 9,382 |
28,789 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Net movement in funds | 9,523 | 264 | (9,382) |
(2,695) | |
| Transfers re internal charges | (3,100) | - | - |
(3,100) | |
| Total funds brought forward | 22,068 | 4,335 | 182,208 |
208,611 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Total funds carried forward | 28,491 | 4,599 | 172,826 |
205,916 | |
| ═══════ | ═══════ | ═══════ | ═══════ | ||
| 10 | Analysis of net assets between funds | ||||
| Unrestricted Restricted | Total | ||||
| Funds | Funds | Assets | |||
| £ | £ | £ | |||
| Fixed assets | 126,357 | 195,933 |
322,290 | ||
| Cash and bank balances | 89,692 | 7,440 |
97,132 | ||
| Other current assets less liabilities | 3,826 | 2,543 |
6,369 | ||
| ─────── | ─────── | ─────── | |||
| 219,875 | 205,916 |
425,791 | |||
| ══════════════ | ══════ |
Page 13
ARK COMMUNITY CHURCH SUTTON COLDFIELD
NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 31 MARCH 2024
11 Statement of Financial Activities (previous year)
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| funds | funds | funds | 2022 | ||
| Notes | £ | £ | £ | £ | |
| Income | |||||
| Charitable activities | |||||
| Donations and gifts | 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 and other income | 18,004 | 9 | 18,013 | 14,715 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Total | 119,109 | 19,048 | 138,157 | 117,343 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Expenditure | |||||
| Charitable activities | |||||
| Staff costs | 68,003 | 9,959 | 77,962 | 60,361 | |
| Activities and events | 43,992 | 19,124 | 63,116 | 47,154 | |
| Governance | 4,024 | - | 4,024 | 2,434 | |
| ─────── | ─────── | ─────── | ─────── | ||
| 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 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Total funds carried forward | 167,274 | 208,611 | 375,885 | 382,830 | |
| ═══════ | ═══════ | ═══════ | ═══════ |
Page 14
ARK COMMUNITY CHURCH SUTTON COLDFIELD
NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 31 MARCH 2024
12 Restricted funds (previous year)
| Stepping | Other | Leasehold | Total |
|
|---|---|---|---|---|
| Stones | premises | |||
| Income | £ | £ | £ | £ |
| Donations and gifts | - | 718 | - | 718 |
| Activity income | 13,180 | 4,086 | - | 17,266 |
| Grants received | - | 1,055 | - | 1,055 |
| 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 |
| ═══════ | ═══════ | ═══════ | ═══════ |
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 £32,220, pension contributions £1,289.
Stephanie Jones (Support project leader) Salary £6,084, pension contributions £243.
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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