Charity registration number 1163741
Company registration number 09140549 (England and Wales)
JOEL COMMUNITY SERVICES
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
JOEL COMMUNITY SERVICES
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mr C Clarke Mr P F Wolff Reverend H Foxwood Mr D Parish (Appointed 17 February 2022) Ms G Burgess R Miller (Appointed 19 May 2022) Charity number 1163741 Company number 09140549 Registered office St Peter's Church London Road Kingston Upon Thames KT2 6QL Independent examiner F J Wilde FCCA MBA DChA Warner Wilde 4 Marigold Drive Bisley Surrey GU24 9SF Bankers CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4TA
JOEL COMMUNITY SERVICES
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 - 8 |
| Notes to the financial statements | 9 - 17 |
JOEL COMMUNITY SERVICES
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022
The trustees present their annual report and financial statements for the year ended 31 December 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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 2019)".
Objectives and activities
During the year, the trustees reviewed these objects and received permission from the Charity Commission to amend them as below:
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T he relief of poverty by provision of accommodation and other connected services for persons who are deemed refugees, homeless or in need of such assistance .
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T o provide, maintain and, if necessary, improve a mission room or parish room and connected services in connection with the ecclesiastical parish of St Peter, Norbiton for the purposes of divine service and the promotion of religion according to the Christian faith and also for other religious, social, scientific, literary or charitable purposes including meetings all calculated to be for the benefit of the inhabitants of the said parish.
Activities
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Providing residential accommodation, community space, and other services to those in need.
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Providing working accommodation for a local housing charity.
Public benefit
The board has taken due regard of the guidance on public benefit published by the charity commission in exercising its powers and duties. It is confident that the aims of the organisation and allocation of resources fully satisfy the public benefit requirements.
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JOEL COMMUNITY SERVICES
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022
Achievements and performance
Throughout 2022 we continued to provide premises and accommodation in St Peter’s Church Hall for Kingston Churches Action on Homelessness (KCAH; a local charity for the homeless). This ensured that many needs of homeless people in the Kingston upon Thames area continued to be met by the professional services offered by KCAH.
During the first half of the year, KCAH continued to resource and operate a Drug Stabilisation Centre, using a section of the Church Hall known as the Joel Centre. This project provided specialist staff to assist homeless people with severe drug and alcohol problems and provide accommodation for those people. At the end of June 2022, however, KCAH decided to close this project and to pass the Joel Centre back to Joel Community Services (JCS). As a consequence, the trustees of JCS began a period of prayer and consultation to seek a fresh vision for the Joel Centre.
From consultations with a wide range of stakeholders, it became apparent that in our post-pandemic context the Joel Centre was no longer so well suited for the purposes it had served in the past. At the same time, the trustees were becoming aware of other vulnerable groups, including among the refugee community who attend St Peter’s Church, who are in need of a warm and healing environment where they could be part of a Christian community. A scripture that came particularly to our mind was this: Let us not become weary in doing good, for at the proper time we will reap a harvest if we do not give up. Therefore, as we have opportunity, let us do good to all people, especially to those who belong to the family of believers. (Galatians 6: 9-10)
We therefore decided to make the Joel Centre accommodation initially available to members of St Peter’s and nearby churches who are a) in need of accommodation; b) would appreciate living in a community; and c) are eligible for housing benefit, or who could pay a sub-market rent. During the year, we welcomed in our first residents who were in urgent need of temporary accommodation.
Over the coming years, we expect the accommodation to be a temporary home for at least four or five residents, while also providing a community space where appropriate. Having accommodation so close to the church enables us to offer a range of opportunities to engage in our church life, to receive English lessons, courses to enhance employability, and support that we could make available to the wider community. We have already begun to provide some of these services, including regular funding and opportunities for Iranian refugees to cook together and show hospitality to others in the local community.
Financial review
Income was £ 56,580 (including donations from Joel Community Trust of £9,500) as we continued to receive rent for the office space provided to KCAH which covers our new, lower, operating costs. We had encouraged our supporters to support the KCAH stabili s ation centre directly to ensure that the service could be viable. This resulted in a significant, planned drop-off in regular donor income, although we continue d to receive some income from supporters. We also received some income from residents whom we provided temporary accommodation.
Costs were £ 53,738. This includes a £6,600 donation to KCAH to support their stabilisation centre and a oneoff £6,327 refund of overpayment of RBK housing benefits in previous year. We also incurred £1,731 in relation to the one-off refurbishment of Joel Centre after KCAH returned it to us. The m ortgage rate rose over the year, but loan repayments from the original redevelopment loan continued to be met.
Reserves Policy
Our revised policy is to hold sufficient funds to cover six months of operating costs. This ensures that, in the event of a financial crisis, we can continue to meet our financial obligations.
Total reserves are shown as £ 631,316 . This largely comprises cash to cover six months of operating costs, plus the net value of St Peter's Church Hall after repayment of loans.
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JOEL COMMUNITY SERVICES
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022
Risk Review
The board assesses and reviews key risks periodically. During 2023 we will reassess our risks but the key risks are as follows:
Funding
We have a dependency on income from our main tenant (KCAH).
Damage to reputation
We are associated with KCAH as the principal user of St Peter's Church Hall. We meet with them from time to time to discuss matters of mutual interest.
Risk of fire, flood or other environmental risks
We maintain appropriate levels of insurance and have reviewed the full requirements with our insurers.
Structure, governance and management
Joel Community Services was incorporated as a charitable company limited by guarantee on 21 July 2014 and is governed by its Articles of Association. It is registered with the Charity Commission in England and Wales with its registered office at St Peter ' s Church, London Road , Kingston Surrey.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Mr C Clarke Mrs A Jarrett (Resigned 19 May 2022) Mr A Elliott (Resigned 2 August 2022) Mr P F Wolff Reverend H Foxwood Mr D Parish (Appointed 17 February 2022) Ms G Burgess R Miller (Appointed 19 May 2022)
Governance
Our Board of Directors is responsible for overseeing the strategy and performance of Joel Community Services. The Board meets regularly throughout the year to consider , set and review strategies, policies, budgets , plans and performance .
The Board has not delegated any powers to formal committees , although specific task groups are formed as necessary with specific responsibilities .
Recruitment
Prospective directors are nominated by at least one current member of the Board in line with our Articles and with knowledge of the ways in which their experience might serve the interests of Joel Community Services. They are then interviewed by a panel of current directors to ensure that their motivations, skills and interests are consistent with the aims of the charity and, if so, to confirm the appointment.
Trustees new to the Board meet with the Chairman and other directors as appropriate and are provided with information and training to enable them to fully understand the mission and values of Joel Community Services.
All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
Management
The board manages the needs of the organisation directly, with some support from St Peter's Church staff.
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JOEL COMMUNITY SERVICES
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022
The trustees' r eport was approved by the Board of Trustees.
..............................
Reverend H Foxwood Trustee Dated: ......................... 14th July 2023
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JOEL COMMUNITY SERVICES INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF JOEL COMMUNITY SERVICES I rgport to the trustse8 on nry examlnathjn of 1kn8ndal slatsments Of Jo•1 Community Se1$ 1 tharttyl for the year •nd•d 31 December 2022. R••pon•lbllllM and ba•1• ol r•port A8 Ihe twst666 of Ihe tharity land also Its dlredots for the purposes of company law) you are responslbk8 fc th• preparation of the flnan¢lol stst8ment8 In arLordan¢8 wlth the requtremtrnts of th• Compan188 Act 2006 Ohe 28 Acl). Ha7lng 8all8118d rry8ellthat th6 Ilnandal •t8l•mort8 of the tharfty arn not rnqulred lo b8 audttad und•r Part 16 of the 20LI8 Act al ar• •llglble for Independent txamlnglkn. I rep¢xt In re8pe¢t of nry èxamlnatlon of thè chartty8 ffinanc4al 81al•ments carrfed out under Sgthn 145 of th8 Charltie¥ A¢1 2011 (tha 2011 Act). In carrying oyl my •x8nlnation I have folod •4 th• appllcablB DITeckn gbmn by the Charfty Comm168lon under 8ocJon 1451Sllbl of th& 2011 h£L Ind•pond•nt •xamIn• •t•t•m•nt I have completed my ¢x8mlnatlon. I clmfflnn Ihot no matt•r8 h•vg (>)m• > my attu0n In c¢nnoctlon th th• examlnatlon glvlng mo cau88 to belleve that In any mat•dal respect. accotIng r•¢ords w•r• not k•pt In rospect of th¢ ¢harlty 08 wuwed try 8ocUon 386 01 th• 2008 Act,. or tho flnanclal slalements do not accord th08t recfjrds.. or th8 ffinanclal ststwnents do nol ¢ompty the accourfng r•qulr•nwnts of sKtk)n 398 01 tho 20C6 other thon any r8qulf8ment Ih8t the acCntI a tru• and Ir ¥lew whkh h not a mitt•r consldornd al part of an Independent exanlnalv)n'. or tho flnan¢lal s1olem8nts have not been prepared In acwdance wlth tho methods and prtne4>188 of tha Stslemonl of Recommended Practlcè for o¢counlln9 And repn9 by th¥réU•$ oppllcabkq to charftloi prnparfng th•lr accounts In accordan¢g Y*ith lh8 Flnandal Reporting Standaryl 9pplICab In tho UK and R•publlc of Irelfind IFRS 1021. I have no cOnM8 and have come 8¢m8 no olh•r mfjttorn In 0)nCtn wtth tho examlngllon to whlch 0ttgnJon 8hould be dravm In tN¥ rnp)rt kn ord•r to •nablo a pmpw undorntandmig of th• finandal stataments to b• reathed. F J FCCA MBA DCI Wamor Wld• 4 Marfgold Drlv• 81$18y Surrey GU24 9SF
JOEL COMMUNITY SERVICES
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022
| Unrestricted Restricted funds funds 2022 2022 Notes £ £ Income from: Donations and legacies 3 21,406 - Charitable activities 4 35,156 - Investments 5 18 - Total income 56,580 - Expenditure on: Charitable activities 6 51,888 1,850 Net income/(expenditure) for the year/ Net movement in funds 4,692 (1,850) Fund balances at 1 January 2022 540,391 88,083 Fund balances at 31 December 2022 545,083 86,233 |
Total Unrestricted Restricted funds funds 2022 2021 2021 £ £ £ 21,406 19,667 - 35,156 25,530 - 18 - - 56,580 45,197 - 53,738 64,845 1,850 2,842 (19,648) (1,850) 628,474 560,039 89,933 631,316 540,391 88,083 |
Total 2021 £ 19,667 25,530 - 45,197 66,695 (21,498) 649,972 628,474 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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JOEL COMMUNITY SERVICES
BALANCE SHEET
AS AT 31 DECEMBER 2022
| Notes Fixed assets Tangible assets 11 Current assets Debtors 12 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 15 Net assets Income funds Restricted funds 17 Unrestricted funds |
2022 £ £ 849,121 1,201 24,645 25,846 (11,950) 13,896 863,017 (231,701) 631,316 86,233 545,083 631,316 |
2021 £ £ 862,628 997 30,211 31,208 (24,667) 6,541 869,169 (240,695) 628,474 88,083 540,391 628,474 |
|---|---|---|
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JOEL COMMUNITY SERVICES
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2022.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 14th July 2023.
..............................
Reverend H Foxwood Trustee
Company registration number 09140549
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JOEL COMMUNITY SERVICES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
1 Accounting policies
Charity information
Joel Community Services is a private company limited by guarantee incorporated in England and Wales. The registered office is St Peter's Church, London Road, Kingston Upon Thames, KT2 6QL.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "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 2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
Grants are recognised once the charity has been notified of the grant unless performance conditions require deferral of the amount.
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JOEL COMMUNITY SERVICES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
1 Accounting policies
(Continued)
1.5 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.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings 2% straight line Fixtures and equipment 25% straight line
Assets in the course of construction are not depreciated.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities .
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity 's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets are initially recognised at transaction value and subsequently measured at their settlement value .
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction pri ce and subsequently measured at their settlement value .
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JOEL COMMUNITY SERVICES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
1 Accounting policies
(Continued)
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity ’s contractual obligations expire or are discharged or cancelled.
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.12 Redundancy costs
Redundancy costs are recognised when the Charity is committed to terminate employment.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2022 | 2021 | |
| £ | £ | |
| Donations and gifts | 21,406 | 19,667 |
4 Charitable activities
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Charitable rental income | 35,156 | 25,530 |
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JOEL COMMUNITY SERVICES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
5 Investments
| Unrestricted funds 2022 £ Interest receivable 18 Charitable activities 2022 £ Staff costs - Depreciation and impairment 13,507 Utilities 4,006 Admin costs 723 Miscellaneous costs 4,121 Verger contribution - PCC contribution - Insurance 3,421 Maintenance, repairs and equipment 3,236 Vestry rent - 29,014 Grant funding of activities (see note 7) 6,600 Share of support costs (see note 8) 16,318 Share of governance costs (see note 8) 1,806 53,738 Analysis by fund Unrestricted funds 51,888 Restricted funds 1,850 53,738 |
Total 2021 £ - 2021 £ (2,105) 13,507 395 - 1,068 4,520 2,200 3,379 289 (6,000) 17,253 33,765 14,249 1,428 66,695 64,845 1,850 66,695 |
|---|---|
6 Charitable activities
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JOEL COMMUNITY SERVICES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
7 Grants Paid
| Grants to institutions: Kingston Churches Action on Homelessness |
2022 £ 6,600 6,600 |
2021 £ 33,765 33,765 |
|---|---|---|
8 Support costs
| Support costs Governance costs £ £ Telephone, mobile, internet 229 - Loan interest and charges 16,089 - Independent examination fee - 1,644 Bank charges - 162 16,318 1,806 Analysed between Charitable activities 16,318 1,806 |
2022 Support costs Governance costs £ £ £ 229 478 - 16,089 13,771 - 1,644 - 1,236 162 - 192 18,124 14,249 1,428 18,124 14,249 1,428 |
2021 £ 478 13,771 1,236 192 15,677 15,677 |
|---|---|---|
Governance costs includes payments to the Independent Examiner of £ 1,314 (2021- £ 1,224 ).
9 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
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JOEL COMMUNITY SERVICES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
10 Employees
There were no employees during the year.
| Employment costs Other pension costs The staff were made redundant on 31 January 2020. |
2022 £ - |
2021 £ (2,105) |
|---|---|---|
There were no employees whose annual remuneration was £60,000 or more.
11 Tangible fixed assets
| Freehold land and buildings Fixtures and equipment £ £ Cost At 1 January 2022 935,364 3,439 At 31 December 2022 935,364 3,439 Depreciation and impairment At 1 January 2022 72,736 3,439 Depreciation charged in the year 13,507 - At 31 December 2022 86,243 3,439 Carrying amount At 31 December 2022 849,121 - At 31 December 2021 862,628 - 12 Debtors 2022 Amounts falling due within one year: £ Other debtors 1,201 |
Total £ 938,803 938,803 76,175 13,507 89,682 849,121 862,628 2021 £ 997 |
|---|---|
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JOEL COMMUNITY SERVICES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
13 Loans and overdrafts
| Bank loans Payable within one year Payable after one year Amounts included above which fall due after five years: Payable by instalments |
2022 £ 241,146 9,445 231,701 198,113 |
2021 £ 252,095 11,400 240,695 200,000 |
|---|---|---|
The long-term loans are secured by fixed charges over the property known as St Peter's Church Hall, London Road, Kingston - upon - Thames.
The charity borrowed £300,000 from CAF Bank over a repayment period of 20 years at an interest rate of 5.25% above the Bank of England base rate. During the year, repayments averaged £2,253 pcm (2021: £2,078). The loan agreement contains a break clause at 5 years whereby the loan can be repaid.
14 Creditors: amounts falling due within one year
| Notes Bank loans 13 Deferred income 16 Other creditors Accruals 15 Creditors: amounts falling due after more than one year Notes Bank loans 13 16 Deferred income Arising from Rental income in advance |
2022 £ 9,445 - - 2,505 11,950 2022 £ 231,701 2022 £ - |
2021 £ 11,400 5,892 6,151 1,224 24,667 2021 £ 240,695 2021 £ 5,892 |
|---|---|---|
Deferred income is included in the financial statements as follows:
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JOEL COMMUNITY SERVICES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
| 16 Deferred income Movements in the year: Deferred income at 1 January 2022 Released from previous periods Resources deferred in the year Deferred income at 31 December 2022 |
(Continued) 5,892 6,369 (5,892) (6,369) - 5,892 - 5,892 |
|---|---|
17 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| Balance at | Resources | Balance at | Resources | Balance at | |
|---|---|---|---|---|---|
| 1 January 2021 | expended 1 |
January 2022 | expended | 31 December | |
| 2022 | |||||
| £ | £ | £ | £ | £ | |
| Joel Community Trust | 57,500 | (1,250) | 56,250 |
(1,250) | 55,000 |
| Phase 2 Redevelopment | 28,501 | (600) | 27,901 |
(600) | 27,301 |
| Bed spaces | 3,932 | - | 3,932 | - | 3,932 |
| 89,933 | (1,850) | 88,083 |
(1,850) | 86,233 |
Joel Community Trust: Building fund
Phase 2 redevelopment: Building fund
18 Analysis of net assets between funds
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| 2022 | 2022 | 2022 | 2021 | 2021 | 2021 | |
| £ | £ | £ | £ | £ | £ | |
| Fund balances at 31 | ||||||
| December 2022 are | ||||||
| represented by: | ||||||
| Tangible assets | 766,820 | 82,301 | 849,121 | 778,477 | 84,151 | 862,628 |
| Current assets/ | ||||||
| (liabilities) | 9,964 | 3,932 | 13,896 | 2,609 | 3,932 | 6,541 |
| Long term liabilities | (231,701) | - | (231,701) | (240,695) |
- | (240,695) |
| 545,083 | 86,233 | 631,316 | 540,391 | 88,083 | 628,474 |
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JOEL COMMUNITY SERVICES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
19 Related party transactions
Transactions with related parties
During the year the charity entered into the following transactions with related parties:
| Joel Community Trust | Donations 2022 £ 9,500 9,500 |
2021 £ 10,176 10,176 |
|---|---|---|
In 2022, Joel Community Trust (JCT), an associated charity, donated funds to Joel Community Services to the value of £9,500.
In 2021, there was a brought forward balance owed to JCT of £6,030. JCT also settled liabilities for Joel Community Services of £5,345 and Joel Community Services settled a liability for JCT of £1200. The resultant balance of £10,176 was treated as a donation by JCT. The balance outstanding at the year end 2021 was £Nil.
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