## Emmanuel Church, Leamington Spa CIO
Report and Accounts Year ended 31st March 2023
1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk
## **Emmanuel Church, Leamington Spa CIO**
## **CHARITY INFORMATION**
## **FOR THE YEAR ENDED 31 MARCH 2023**
## **Trustees**
**Trustees** Timothy Mark FRY Matthew SEYMOUR _(Chairman until 31 Dec 2022)_ James Ashley MIDWINTER _(Chairman from 1 Jan 2023 until 31 Dec 2023)_ Oliver David THOMPSON Richard John COLE Andrew Edwin PRYCE Andrew Paul FRY **Key Staff** James Ashley MIDWINTER Matthew SEYMOUR Leo LUCAS Alison COX
## **Governing Document**
Emmanuel Church, Leamington Spa CIO Constitution and Fellowship Guide adopted by the Church Member’s Meeting on 6 July 2015 and Registered by the Charity Commission on 20 November 2015.
**Charity Registration Number** 1164502 **Principal Address** Heath Terrace Leamington Spa CV32 5LY
## **Independent Examiner**
Lourens du Plessis ACA CA(SA) Stewardship 1 Lamb's Passage London EC1Y 8AB
**Bankers** Barclays Bank PLC Nationwide Building Society Loughborough Building Society 150 Parade Kings Park Road 6 High Street Leamington Spa Moulton Park Loughborough Warwickshire Northampton LE11 2QB CV32 4AZ NN3 6NW **Contents Page** Charity Information 1 Trustees' Annual Report 2-6 Independent Examiner's Report 7 Statement of Financial Activities 8 Balance Sheet 9 Notes to the Accounts 10-18 Detailed Statement of Financial Activities with Comparatives 19
Page 1
## **EMMANUEL CHURCH LEAMINGTON SPA CIO**
## **TRUSTEES' ANNUAL REPORT**
## **FOR THE YEAR ENDED 31 MARCH 2023**
The Trustees have pleasure in submitting the Report and Accounts for the year to 31 March 2023.
## **Objects of the charity**
The purposes of the CIO are:
- the advancement of the Christian faith in accordance with the Basis of Faith, Doctrinal Distinctives and Ethical Statements, primarily, but not exclusively, within Leamington Spa, Warwick, and the surrounding neighbourhood; and - such other charitable purposes, as shall in the opinion of the charity trustees facilitate the work of the Fellowship, provided that such purposes must be carried out in a manner consistent with the Basis of Faith, Doctrinal Distinctives and Ethical Statements.
## **Registration of this Charitable Incorporated Organisation (CIO)**
This Charity – Emmanuel Church, Leamington Spa, CIO was registered with the Charity Commission on 20 November 2015 (Reg. No. 1164502), and by a ‘Vesting Declaration by way of Deed’, received all the assets and liabilities of the foregoing charity, Emmanuel Evangelical Church (Leamington Spa) Trust (Reg. No. 1040807) from the effective date of 1 April 2016.
The General Register Office has made the necessary changes to its registers for the continuing church congregation to have the religious description and registration of marriages recorded as Emmanuel Church, Leamington Spa, CIO. The Church operates under the Church Worship number 76821 and Marriage number is 40582.
## **Governance**
New trustees are elected to the role as part of their eldership responsibilities as set out in the Church’s Fellowship Guide and subject to the other provisions under clause 9 of the CIO’s Constitution.
The following trustees have served during the year: Richard John COLE - Secretary Andrew Paul FRY Timothy Mark FRY James Ashley MIDWINTER - Chair from 01/01/2023 Andrew Edwin PRYCE Matthew SEYMOUR - Chair until 31/12/2022 Oliver David THOMPSON
Under the Constitution of the CIO and embodied in the Church's Fellowship Guide it was agreed that the elected Deacons of the Church who by virtue of their office were formerly trustees of the Charitable Trust (Reg. No. 1040807), and who still make a major contribution to the responsibilities of leadership within the Church and management of the Charity, should be identified as Associates of the Trustees of the CIO and attend the quarterly Trustees’ Meetings as nonvoting advisors to the Trustees. Those Associate Trustees/Deacons which include the Church Treasurer and GDPR Compliance Officer, serving in the period being reported were:
Stuart James CLASPER (From 01/06/22) Timothy IVE Joseph William JARVIS Gareth NASH David Neil SKIDMORE (Church Treasurer and GDPR Compliance Officer) Alastair Malcolm WHEATCROFT
**Review of activities**
In planning the activities the Trustees have had regard to the guidance on public benefit issued by the Charity Commission.
## **Meetings**
Weekly in-person meetings (plus Livestream and Microsoft Teams, as required) have been held throughout the year for Divine Worship, prayer, teaching and evangelism. At the Autumn Church Members’ Meeting and in a published summary, reports were received from the leaders of the following activities:
Page 2
## **EMMANUEL CHURCH LEAMINGTON SPA CIO**
## **TRUSTEES' ANNUAL REPORT**
## **FOR THE YEAR ENDED 31 MARCH 2023**
## **Children and teenagers**
- Sunday Creche
- Beginners Sunday School
- Junior Sunday School
- Senior Sunday School
- Emmanuel Tuesday Club (ETC)
- Shrub Street Kidz
- Toddlers’ Group
- 526 Club
- King’s Friday Club (KFC)
- Holiday Bible Club (HBC)
## **Adult ministries**
- Network (20s to 40s)
- Men’s ministry
- Women’s ministry
- Student Ministries
## **Senior citizens and compassion ministries**
- Care team
- Seniors on Sunday
- Thursday Luncheon Club
- Monthly visits to Eversleigh Care Home
## **Mission and evangelism**
- Christianity Explored courses
- Community visiting
- Missionary interests (Support maintained by correspondence, recorded video and video conferencing)
- Evangelism Team
## **Administration and ministry**
Eldership meetings Diaconate meetings Trustees’ meetings Administration Buildings and Maintenance Media Team Music Team Relocation Team Treasury Team Stewarding and Welcome
## **Membership**
During the year there have been 31 additions to the Membership, (including 5 Associates). 7 left Membership of whom 7 held full Membership. There were 6 baptisms during the year. The total Membership at 31 March 2023 stood at 222 of whom 8 were 'Associates'.
**Church Leadership:** The Elders serving for the period of this Report are synonymous with the Trustees as listed above. Their role is the overall leadership of the Church. They are especially responsible for any gathering for worship on the Lord's Day and other occasions for prayer, fellowship and ministry. They have the solemn responsibility to ensure proper Church discipline according to the Biblical pattern. The Pastors are regarded as one of and one with the Elders. Pastors are elders who are recognised by the Church as those who have been especially called to the ministry of the Word.
Page 3
## **EMMANUEL CHURCH LEAMINGTON SPA CIO**
## **TRUSTEES' ANNUAL REPORT**
## **FOR THE YEAR ENDED 31 MARCH 2023**
## **Missionary support**
The Church has a practice of setting aside 20% of its income for Christian missions distributed on the recommendation of a small Missions Team and approved by the Diaconate who report to the Trustees.
Their task is to ensure that the giving is targeted on those individuals and organisations that are compatible with the church’s statement of faith and the objects of its charitable status. A Missionary Information Board provides Members with background to the various missionary endeavours supported by the Church.
Approximately 50% of this annual sum is allocated to missions with whom the Church has a long-standing commitment and therefore wishes to give ‘regular support’ (Year Ending March '23 it was 61%). The remainder is applied to ‘ad hoc’ missions and Christian enterprises that have a specific identified need that accords with the Church’s wider missionary interests.
In addition, from time to time, specific ‘appeals’ are made for membership offerings over and above the 20% commitment to support Christian workers operating in a national or local crisis.
Occasionally folk are brought to the attention of the Church officers because of distressing and unexpected personal circumstances and they can be assisted ‘in confidence’ with financial or material support and the expenditure listed as ‘benevolence’.
## **Home fellowship groups**
Up to seven geographically identified Home Fellowship Groups have continued to meet throughout the year in-person (plus Microsoft Teams as desired). The Elders regard Home Fellowship Groups as an important opportunity for Church Members to meet together for Christian fellowship, pastoral care and spiritual growth.
## **Property**
The premises in Heath Terrace are utilised throughout the week for most of the church activities with North Leamington School hired for Sunday morning worship. The search for new premises or a building site where new church facilities could be built, has continued through the work of the Relocation Team.
## **FUTURE PLANS AND OBJECTIVES**
The growth and development of the Church and its activities are kept constantly under review by the Eldership, Diaconate and the various teams with responsibility for specific areas of work. Reports on previous activity and ongoing plans are reported by groups within the Church at the quarterly Membership Meetings and an Annual Report is published to the wider membership.
## **Ministry: -**
The Pastoral team continues to work under great pressure to meet the demands of a growing membership and congregation. The Pastors are supported by two part-time Administrators and a part-time Children & Youth Ministry Coordinator. The church is seeking to appoint one or more persons for Women's Ministry Coordination.
James Midwinter and Matthew Seymour work together as Co-pastors, equal in responsibility and employment terms. The pastoral work and teaching ministry is driven by them together and the workload shared to reflect their respective strengths and abilities.
## **Growth: -**
The Eldership meets regularly to prayerfully consider future needs and opportunities. This includes reviews of the membership and potential gifts that can be encouraged for leadership, existing and new ministries, and opportunities for new initiatives in Gospel outreach, home fellowship group effectiveness, and church planting possibilities.
## **Mission: -**
The Mission Team will continue to explore ways in which 20% of the church’s income can be effectively invested in home and overseas missions both for the propagation of the Gospel and to support practical needs of workers and those to whom they minister. This will be further extended by the taking of specific offerings to support local and international crises that fit within the objects of the charity as they occur from time to time.
Page 4
## **EMMANUEL CHURCH LEAMINGTON SPA CIO**
## **TRUSTEES' ANNUAL REPORT**
## **FOR THE YEAR ENDED 31 MARCH 2023**
## **Property: -**
The Relocation Team’s search continues for suitable sites for Church development through discussions with local property agents, the Local Authority, builders, land owners and property developers to find an alternative solution.
Recognising the need for a major capital investment, the Development and Relocation Fund has been established and is gradually building, through members one-off gifts and regular giving as can be seen from the attached financial statements.
## **Financial review**
Unrestricted income for the year ended 31 March 2023 was £322,508 (2022: £282,163) and income for the restricted funds was £31,008 (2022: £26,458). Total income was £353,516 (2022: £308,621), which includes gift aid tax recovery of £52,953 (2022: £49,820).
Expenditure for the year excluding expenditure from restricted funds amounted to £327,600 (2022: £268,489) the principal items being ministerial costs, missionary support, various evangelistic activities and maintenance of the church premises. The excess of expenditure over unrestricted income was £5,093 (2022: net income of £13,674). At 31 March 2023 the restricted development and relocation fund amounted to £660,063 (2022: £621,437).
At 31 March 2023, unrestricted cash in bank accounts amounted to £126,140 (2022: £148,801). The Trustees continue to consider the most appropriate use of these funds in the furthering of the Trust's objectives.
For the financial year ending 31 March 2024, the Trustees have established a manageable but challenging budget, bearing in mind the uncertainty over income and expenditure with the prevailing cost of living crisis. The membership has been encouraged to increase giving to ensure the funds ‘break even’ by the end of the financial year but the Deacons will monitor income and expenditure against budget on a monthly basis. The Training Fund, established in the previous years, concluded support for Andy Kight through London Seminary and has continued to be made available for specific training needs of the church.
Steps continue to be taken to encourage greater commitment to giving through monthly standing orders and online banking services. UK tax payers are also encouraged to Gift Aid for appropriate giving in order that the charity may reclaim monies from HMRC.
## **Reserves policy**
The Trustees have reviewed their Reserves Policy in the light of changing salary and other outgoing commitments and recalculated a nominal sum of £67,000. This would include:
- Outstanding accounts for contracts, suppliers and services
- Salaries/stipends for officers and employees to cover all contractual notice periods and redundancy payments
- PAYE and Pension Fund liabilities
- Ongoing commitments to regular missionary giving and external agencies
- Accountancy and legal fees
Page 5
## **EMMANUEL CHURCH LEAMINGTON SPA CIO**
## **TRUSTEES' ANNUAL REPORT**
## **FOR THE YEAR ENDED 31 MARCH 2023**
## **Risk statement**
As a Christian Church the Officers try to be faithful in committing all developments, decisions and issues of Church life to the guidance and providence of God. Nonetheless, in accordance with the requirements of the SORP, the Officers of the Church have developed a document which identifies the major risks to which the charity is thought to be exposed and instigated appropriate measures to mitigate those risks. Particular attention has been given to developing clear policies and training programmes to ensure compliance in Safeguarding Children and Vulnerable Adults, Food Hygiene, and the implications of the Disability Discrimination Act 1995. Preparation of budgets followed by careful monitoring through monthly management accounts by the Deacons ensures sufficient resources in the event of adverse financial conditions. A designated Development Fund manages the funds set aside for this specific purpose. A Reserves Policy identifies the financial needs of the Trust in the event of a financial crisis and this is kept under annual review to ensure that it matches the changing needs of the Church.
## **Trustees' responsibilities**
Charity law requires us as Trustees to prepare financial statements for each accounting year which give a true and fair view of the state of the charity and of its income and expenditure for the year.
We are required to:
1. Select suitable accounting policies and apply them consistently.
2. Make judgements and estimates that are reasonable and prudent.
3. State whether the applicable accounting standards have been followed, subject to any material departures disclosed
and explained in the accounts.
4. Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in business.
We are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable us to ensure that the financial statements comply with the Charities Act 2011 and follow the principles in the new edition of the Charity Governance Code.
We also have a responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities.
## **Approval**
This report was approved by the Trustees and signed on their behalf by:
## **Richard Cole**
Richard Cole
Date: 10 October 2023
Page 6
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF**
## **Emmanuel Church, Leamington Spa CIO ('the Charity')**
I report to the charity trustees on my examination of the accounts of the Charity for the year ended 31 March 2023 on pages 8 to 19 following, which have been prepared on the basis of the accounting policies set out on pages 10 to 11.
## **Responsibilities and basis of report**
As the charity’s trustees of the Emmanuel Church Leamington Spa CIO you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner’s statement**
Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants of England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
## **Lourens du Plessis**
Lourens du Plessis ACA CA(SA) Member of the Institute of Chartered Accountants in England and Wales (ICAEW)
Stewardship 1 Lamb's Passage London EC1Y 8AB
Date: 27 October 2023
Page 7
## **Emmanuel Church, Leamington Spa CIO**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **FOR THE YEAR ENDED 31 MARCH 2023**
|Note
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
3
Other income
Investments
4
**Total income and endowments**
**EXPENDITURE ON:**
Charitable activities
5
**Total expenditure**
**Net income/(expenditure)**
**Transfers between funds**
12
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
12|Unrestricted
Funds
£
319,625
1,665
1,218
322,508
327,600
327,600
(5,092)
(10,000)
(15,092)
226,247
211,155|Restricted
Funds
£
23,435
-
7,573
31,008
2,382
2,382
28,626
10,000
38,626
621,437
660,063|Total
Funds
2023
£
343,060
1,665
8,791
353,516
329,982
329,982
23,534
-
23,534
847,684
871,218|Total
Funds
2022
£
305,177
2,074
1,370|
|---|---|---|---|---|
|||||308,621|
|||||271,039|
|||||271,039|
||||||
|||||37,582
-|
|||||37,582
810,102|
|||||847,684|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing operations.
The notes on page 10-18 form part of these accounts.
Page 8
## **Emmanuel Church, Leamington Spa CIO**
## **BALANCE SHEET**
## **AS AT 31 MARCH 2023**
|Note
**FIXED ASSETS**
Tangible assets
7
**CURRENT ASSETS**
Debtors
8
Cash at bank and in hand
9
**CREDITORS: Amounts falling**
**due within one year**
10
**Net current assets / (liabilities)**
**Total assets less current liabilities**
**TOTAL NET ASSETS**
**FUND BALANCES**
12
Unrestricted Funds
General funds
Designated funds
Restricted Funds|Unrestricted
Funds
£
81,027
81,027
11,973
126,139
138,112
(7,985)
130,128
211,155
211,155
196,240
14,915
211,155
-
211,155|Restricted
Funds
£
-
-
-
660,063
660,063
-
660,063
660,063
660,063
-
-
-
660,063
660,063|Total
Funds
2023
£
81,027
81,027
11,973
786,202
798,176
(7,985)
790,191
871,218
871,218
196,240
14,915
211,155
660,063
871,218|Total
Funds
2022
£
80,160|
|---|---|---|---|---|
|||||80,160|
|||||5,527
770,238|
|||||775,765
(8,241)|
|||||767,524|
||||||
|||||847,684|
|||||847,684|
|||||219,917
6,330|
|||||226,247
621,437|
|||||847,684|
The financial statements were approved by the Board of Trustees and were signed on its behalf by:
## **Richard Cole**
Richard Cole Date: 10 October 2023
Charity number: 1164502
The notes on page 10-18 form part of these accounts.
Page 9
## **Emmanuel Church, Leamington Spa CIO**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 MARCH 2023**
## **1 Statutory Information**
The charity is a charitable incorporated organisation registered with the Charity Commission in England & Wales. The charity's registered number and principal address can be found on the Charity Information page.
## **2 Accounting Policies**
These financial statements are prepared on a going concern basis, under the historical cost convention.
These financial statements have been prepared in accordance with the "Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102") and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.
The Charities (Accounts and Reports) Regulations 2008 (the '2008 Regulations') requires charities to prepare their accounts in accordance with 'Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005' but this accounting standard has since been withdrawn and has been replaced by the Charities SORP mentioned in the preceding paragraph. The charity has prepared these financial statements in accordance with the new Charities SORP; this departure from the 2008 Regulations is believed to be necessary for these financial statements to give a 'true and fair view'.
The principles adopted in the preparation of the financial statements are set out below.
## a) Going concern
The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.
## b) Income
Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.
Income from donations includes:
i) Recoverable gift aid. This is recognised when the related donation is received. Gift aid that has not been recovered by the balance sheet date is included as a debtor.
The charity relies on volunteers to carry out many of its activities. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.
ii) Legacies. Income from legacies is recognised when a distribution is received from the estate or, if earlier, when the charity has been notified that a distribution will be made and the amount receivable can be measured reliably.
Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity's charitable objects. It includes income from church retreats and other events and courses.
Investment income represents income generated by the charity's assets
- c) Expenditure
Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.
The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.
## **2 Accounting Policies (continued)**
The cost of raising funds is not significant and has not been separately disclosed.
Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.
d) Fund accounting
Page 10
## **Emmanuel Church, Leamington Spa CIO**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 MARCH 2023**
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects. Endowment funds are donations that are retained as capital in accordance with the donor's wishes. The nature of the restriction determines whether the endowments represent permanent endowments or expendable endowments.
## e) Tangible fixed assets
Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £1,000 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective the following rates of depreciation are charged:
## Equipment Over 3 to 20 years
The carrying values of tangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate that the carrying value may not be recoverable.
## f) Leased assets
Leases which do not transfer substantially all the risks and rewards of ownership to the charity are classified as operating leases. Operating lease payments are recognised as an expense on a straight-line basis over the lease term (unless another systematic basis is more representative of use).
## g) Pension scheme arrangements
The charity operates defined contribution pension schemes for its employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds.
## h) Taxation
The charity has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.
## i) Financial instruments
The charity's financial assets and financial liabilities all qualify as basic financial instruments, as defined by FRS102. Except for loans, creditors and debtors are measured at their expected settlement value (normally the amount of cash that the charity expects to pay or receive). The charity recognises liabilities for the principal of those loans that remains outstanding at the year end (i.e. the liabilities exclude any interest chargeable on the loans in future years).
## j) Exemption from preparing a cashflow statement
The charity has taken advantage of an exemption conferred by the Charities SORP and has not prepared a cash flow statement.
## k) Critical accounting estimates and areas of judgement
ln preparing financial statements certain judgements, estimates and assumptions have to be made that affect the amounts recognised in the financial statements. The trustees consider the following to be significant:
i) The annual depreciation charge for property, plant and equipment is sensitive to changes in the estimates for useful economic life and residual value. These estimates are reassessed annually and, when necessary, adjusted to reflect current circumstances.
- ii) The constructive obligation for grants payable is based on an assessment of the likely duration of the supported activity. Again this estimate is re-assessed annually and the obligation is adjusted to reflect current expectations.
Page 11
## **Emmanuel Church, Leamington Spa CIO**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 MARCH 2023**
## **3 Donations**
|Donations of cash and similar
Income tax recoverable
**4**
**Investment income**
Bank interest
**5**
**Charitable expenditure**
**a**
**Costs incurred directly on specific activities**
Staff Costs
School Rent
Children's & Student Work
Evangelistic Activities
Church Activities
Catering
Visiting Speakers
Training Fund
Courses
Grants payable (note 5c)
**b**
**Costs incurred on support & administration**
Governance costs
Independent examiner's fee
Equipment
Minibus running costs
Premises (utilities & maintenance)
Depreciation of tangible fixed assets
Printing & stationery
Options for Heath Terrace
Music copyright
Memberships
Misc (inc Web Site)
Insurance
**Total expenditure**|2023
290,107
52,953
343,060
2023
£
8,791
8,791
2023
£
131,415
15,130
4,839
2,837
2,501
1,470
2,889
2,700
2,218
165,997
94,806
260,803
3,500
3,500
9,263
3,126
17,362
9,761
646
2,382
1,247
6,840
12,861
2,192
69,179
329,982|2022
£
255,357
49,820|
|---|---|---|
|||305,177|
|||2022
£
1,370|
|||1,370|
|||2022
£
124,427
8,379
2,744
1,711
1,416
878
1,841
8,000
522|
|||149,919
70,528|
|||220,447|
|||3,580|
|||3,580
1,708
2,866
6,887
10,299
1,169
2,550
1,839
6,389
11,337
1,968|
|||50,592|
|||271,039|
The fee payable to the independent examiner for preparing and examining the accounts was £3,180 (2022: £3,000 examination only). In addition the church paid £205 to Stewardship (2022: £205) for trustee training and consultancy services.
Page 12
## **Emmanuel Church, Leamington Spa CIO**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 MARCH 2023**
- **5 Charitable expenditure (continued) c Grants payable**
|**Charitable expenditure (continued)**
**Grants payable**||||
|---|---|---|---|
|Grants for UK and overseas mission
Grants for the relief of poverty
Grants for education, including ministry training
The comparatives for the previous year are as follows:
Grants for UK and overseas mission
Grants for education, including ministry training
The charity's principal grants to institutions comprised:
Latin Link
Musawenkosi
UFM Worldwide
Cross Teach
Just Caring
Universities and Colleges Christian Fellowships
Fellowship of Independent Evangelical Churches
Reach Across
Warwick Christian Union
Slavic Gospel Association
OMF International
United Beach Missions
Christian Institute
Christian Prison Resourcing
Open Doors
Mercy Ships UK Ltd
London Seminary
Lovewise
Good news for Everyone - Gideons
Grants to institutions for less than £1,000 each|Institutions
£
61,187
17,177
8,626
86,990
Institutions
£
58,420
6,601
65,021|Individuals
£
7,816
-
-
7,816
Individuals
£
5,507
-
5,507
2023
£
-
15,908
6,198
5,376
3,152
1,060
1,290
1,260
2,060
27,667
2,584
2,616
1,540
1,000
8,429
-
3,250
750
-
2,850
86,990|2023
£
69,003
17,177
8,626|
||||94,806|
||||2022
£
63,927
6,601|
||||70,528|
||||2022
£
4,272
5,834
18,265
5,220
2,576
1,030
1,250
2,225
2,050
4,050
3,540
2,544
2,010
-
3,772
1,000
3,025
1,000
1,275
83|
||||65,021|
Page 13
## **Emmanuel Church, Leamington Spa CIO**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 MARCH 2023**
## **6 Analysis of staff costs, the cost of key management personnel and trustee remuneration and expenses**
|Gross wages and salaries
Social security
Pension costs|2023
£
112,946
4,899
11,260
129,105|2022
£
106,611
5,793
10,837|
|---|---|---|
|||123,241|
The average monthly number of employees during the year was 4 (2022: 4). Most of the charity's activities are carried out by volunteers.
No staff received salaries at a rate of more than £60,000 per annum.
The charity's key management comprise the trustees and the key staff named on the Charity Information page. Total employment benefits payable to key management for the year were as follows:
|Other
Employer
Wages &
employment
pension
salaries
benefits
contributions
Trustees:
Matthew Seymour
42,645
-
4,361
James Midwinter
42,255
-
4,072
Key management connected to trustees:
Leo Lucas - Daughter of Bryan Jarvis
6,558
-
-|2023
£
47,006
46,327
6,558|
|---|---|
||99,891|
The following amounts were payable in the previous year:
|following amounts were payable in the previous year:||
|---|---|
|Other
Employer
Wages &
employment
pension
salaries
benefits
contributions
Trustees:
Matthew Seymour
41,004
-
4,199
James Midwinter
41,004
-
4,177
Key management connected to trustees:
Leo Lucas - Daughter of Bryan Jarvis
2,336
-
223|2022
£
45,203
45,181
2,559|
||92,943|
Matthew Seymour and James Midwinter served as church leaders and received the above payments for serving in that capacity, not for serving as trustees; these payments are permitted by the charity's governing document.
Page 14
## **Emmanuel Church, Leamington Spa CIO**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 MARCH 2023**
## **7 Tangible fixed assets**
|Cost
At 1 April 2022
Additions
At 31 March 2023
Accumulated depreciation
At 1 April 2022
Charge for the year
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022|Freehold
Property
£
60,900
-
60,900
7,808
1,137
8,945
51,955
53,092|Fixtures,
fittings and
equipment
£
55,136
10,628
65,764
35,101
7,217
42,318
23,446
20,035|Vehicles
£
23,019
-
23,019
15,986
1,407
17,393
5,626
7,033|Total
2023
£
139,055
10,628|
|---|---|---|---|---|
|||||149,683|
|||||58,895
9,761|
|||||68,656|
|||||81,027|
|||||80,160|
The Church’s freehold property at Heath Terrace was acquired in 1985 and is held at historical cost. The trustees are not aware of any material changes in value since that date.
## **8 Debtors**
|**Falling due within one year:**
Tax recoverable
Other debtors
**h at Bank and in Hand**
Cash at bank with immediate access
Notice deposits (with a term of three months or less)|2023
£
5,329
6,644
11,973
2023
£
617,926
168,276
786,202|2022
£
4,361
1,166|
|---|---|---|
|||5,527|
|||2022
£
634,667
135,571|
|||770,238|
## **9 Cash at Bank and in Hand**
## **10 Creditors: liabilities falling due within one year**
|**itors: liabilities falling due within one year**|||
|---|---|---|
|Taxation and social security
Other creditors
Grant obligations|2023
£
1,674
6,311
-
7,985|2022
£
1,631
5,610
1,000|
|||8,241|
## **11 Pension commitments**
During the year employer’s pension contributions totalling £11,260 (2022: £10,837) were payable to defined contribution personal pension schemes. No pension contributions were owing at the balance sheet date (2022: £nil).
Page 15
## **Emmanuel Church, Leamington Spa CIO**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 MARCH 2023**
## **12 Funds**
During the year the movements in the charity's funds were as follows:
|_Designated Funds_
Mission grant fund
_General Unrestricted Funds_
Total Unrestricted Funds
_Restricted Funds_
Development and relocation fund
Aggregate of funds|Opening
balance
2023
£
6,330
6,330
219,917
226,247
621,437
621,437
847,683|Incoming
resources
2023
£
-
-
322,508
322,508
31,008
31,008
353,515|Outgoing
resources
2023
£
(70,390)
(70,390)
(257,210)
(327,600)
(2,382)
(2,382)
(329,982)|Transfers
in the year
2023
£
78,975
78,975
(88,975)
(10,000)
10,000
10,000
-|Gains and
losses
2023
£
-
-
-
-
-
-
-|Closing
balance
2023
£
14,915|
|---|---|---|---|---|---|---|
|||||||14,915
196,240|
|||||||211,155|
|||||||660,063|
|||||||660,063|
|||||||871,218|
## **Analysis of net assets by fund**
The assets and liabilities of the various funds were as follows:
|Tangible fixed assets
Debtors
Cash at bank and in hand
Creditors falling due within one year|General
Designated
funds
funds
£
£
81,027
-
11,973
-
111,225
14,915
(7,985)
-
196,240
14,915
Unrestricted Funds|Restricted
funds
£
-
-
660,063
-
660,063|2023
£
81,027
11,973
786,202
(7,985)|
|---|---|---|---|
||||871,218|
Page 16
## **Emmanuel Church, Leamington Spa CIO**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 MARCH 2023**
## **12 Funds (continued)**
In the previous year the movements in the charity's funds were as follows:
|_Designated Funds_
Mission grant fund
_General Unrestricted Funds_
_Total Unrestricted Funds_
_Restricted Funds_
Development and relocation fund
_Aggregate of funds_|Opening
balance
2022
£
11,671
11,671
198,050
209,721
600,381
600,381
810,102|Incoming
resources
2022
£
53,493
53,493
228,670
282,163
26,458
26,458
308,621|Outgoing
resources
2022
£
(57,834)
(57,834)
(210,655)
(268,489)
(2,550)
(2,550)
(271,039)|Transfers
in the year
2022
£
(1,000)
(1,000)
3,852
2,852
(2,852)
(2,852)
-|Gains and
losses
2022
£
-
-
-
-
-
-
-|Closing
balance
2022
£
6,330|
|---|---|---|---|---|---|---|
|||||||6,330
219,917|
|||||||226,247|
|||||||621,437|
|||||||621,437|
|||||||847,683|
## _**Analysis of net assets by fund**_
In the previous year, the assets and liabilities of the various funds were as follows:
|Tangible fixed assets
Debtors
Cash at bank and in hand
Creditors falling due within one year|General
Designated
funds
funds
£
£
80,160
-
5,527
-
142,471
6,330
(8,241)
-
219,917
6,330
Unrestricted Funds|Restricted
funds
£
-
-
621,437
-
621,437|2022
£
86,160
5,527
770,238
(8,241)|
|---|---|---|---|
||||847,684|
Mission Fund - Designated - Annually the trustees set aside some of the charity's income for grant giving to institutions and individuals who undertake activities that further the charity's own objects. It is anticipated that all of the funds designated for this purpose will be distributed in the new financial year. Relocation and Development Fund - The fund was set up to allow the church to save funds towards a new building/building site for our church. Gifts can be one off gifts to contribute to the capital sum and/or regular standing orders allow us to show to a lender that we can service any mortgage payments
Page 17
## **Emmanuel Church, Leamington Spa CIO**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 MARCH 2023**
## **13 Transactions with related parties** During the year the charity:
- a) received donations totalling £42,800 (2022: £45,958) from related parties (which includes trustees, any other members of key management and anyone closely connected to them).
Except as disclosed in note 6 'Analysis of staff costs', there have been no other transactions with related parties during the year.
Page 18
## **Emmanuel Church, Leamington Spa CIO**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES**
## **FOR THE YEAR ENDED 31 MARCH 2023**
|Note
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
3
Other income
Investments
4
**Total income and endowments**
**EXPENDITURE ON:**
Charitable activities:
5
**Total Expenditure**
**Net income/(expenditure)**
**Transfers between funds**
12
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
12||General
Designated
2023
2023
£
£
319,625
-
1,665
-
1,218
-
322,508
-
257,210
70,390
257,210
70,390
65,297
(70,390)
(88,975)
78,975
(23,677)
8,585
219,917
6,330
196,240
14,915
Unrestricted funds|Restricted
2023
£
23,435
-
7,573
31,008
2,382
2,382
28,626
10,000
38,626
621,437
660,063|Total
2023
£
343,060
1,665
8,791
353,516
329,982
329,982
23,534
-
23,534
847,684
871,218|||General
Designated
2022
2022
£
£
226,410
53,493
2,074
-
186
-
228,670
53,493
210,655
57,834
210,655
57,834
18,015
(4,341)
3,852
(1,000)
21,867
(5,341)
198,050
11,671
219,917
6,330
Unrestricted funds|Restricted
2022
£
25,274
-
1,184
26,458
2,550
2,550
23,908
(2,852)
21,056
600,381
621,437|Total
2022
£
305,177
2,074
1,370
308,621
271,039
271,039
37,582
-
37,582
810,102
847,684|
|---|---|---|---|---|---|---|---|---|---|
Page 19