2021-03-31-accounts - Banbury Community Church

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BANBURY COMMUNITY CHURCH Accounts-31" March 2021

BANBURY COMMUNITY CHURCH

Charity number: 1166594

Accounts – 31[st] March 2021

INDEX

1-4. Report of the Trustees and General Information 5. Independent Examiner’s Report to the Trustees 6. Statement of Financial Activities 7. Balance Sheet 8-13. Notes to the Accounts

BANBURY COMMUNITY CHURCH

REPORT OF THE TRUSTEES for the year ended 31[st] March 2021

The Trustees are pleased to present their annual report and financial statements of the charity for the year ended 31[st] March 2021.

The Financial Statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and complies with the Charity’s governing document, the Charities Act 2011 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 the Republic of Ireland published on 16th July 2014.

Reference and Administration Details

The charity’s name is Banbury Community Church.

Charity Registration Number: 1166594

Principal Office: The Cottage The Mill Arts Centre Spiceball Park Road Banbury OX16 5QE

Trustees

The Trustees and officers who served during the year and since the year end were as follows:

Mrs Jill Brown Mr Richard Teare Mr Steve Travis Mrs Rachel Wilcox

Objects and Activities

The objects of the charity are:

The advancement of the Christian faith in the UK and overseas.
The advancement of religious and other education.
The relief of those in need by reason of age, poor, sick and disabled.
Such other charitable purposes as the charity Trustees see fit.

When assessing our activities and achievements, the Trustees have considered the Charity Commission guidance on public benefit, and in particular, the guidance for charities on the advancement of religion.

The Trustees are satisfied that our activities are in furtherance of the objects of the charity and are for the public benefit.

Achievements and Performance

The financial year began just two weeks after the Prime Minister announced an almost complete lockdown of public life in the UK in the face of the unprecedented covid-19 pandemic. The church responded in a number of ways during the year, always adhering to Government guidelines:

Sunday services ceased in person, but immediately moved to a digital format. Throughout the year these were conducted via Zoom, usually simultaneously broadcast via the church’s Facebook feed. This enabled the maximum level of participation and provided access for those unable to use Zoom. Digital meeting rooms were used to facilitate informal communication and fellowship at the end of each service, providing regular contact during the times of lockdown.

BANBURY COMMUNITY CHURCH

REPORT OF THE TRUSTEES for the year ended 31[st] March 2021 ( Continued)

Achievements and Performance (continued)

The church’s work with children and young people also moved online, with separate Zoom events and activities on Sundays and at other times during the week.
The church provided the facility and covered the cost for the Life Groups that normally meet in homes during the week to utilise Zoom for gatherings. As with the Sunday services this was driven by the desire to offer as much support and engagement as possible, particularly for those living alone or feeling vulnerable.
The church’s Pastoral Care Team sought and co-ordinated volunteers that offered to assist anyone that was self-isolating either through potential infection or shielding. This generally involved fetching shopping, but also included some doorstep visits whilst observing social distancing rules. Resources and information were also collated in order to signpost people to local services, including those offering support that was practical or related to mental health and wellbeing issues.

The church continued to undertake a number of activities within the local community, modifying their operation during the year in accordance with the prevailing Government guidelines:

The Faithworks Furniture Project – this serves Banbury and the surrounding villages through the restoration, repair and provision of donated furniture, soft furnishings and home appliances. Beneficiaries are primarily referred by a range of statutory and charity agencies, particularly those working to support people that were previously homeless. It is overseen by a part-time Project Coordinator, who has focused successfully on deepening relationships with the local authority, social housing providers and other partners.

Although the Project’s activities were severely curtailed, the church decided not to furlough the Coordinator because it was acknowledged that given the economic uncertainties an increase in demand was likely so there was the desire to be able to respond as quickly as possible. Faithworks was thus able to operate through most of the year, albeit with restricted levels of activity due to social distancing requirements and the need for some key volunteers to isolate due to particular vulnerabilities. As a result, during the year Faithworks registered 176 new clients (194 previous year), providing 1,820 items (2,067 previous year); made possible by 827 volunteer hours (1,425 previous year).

Support for a project providing meals, toiletries and small personal items for local homeless people.
After an 18-month redevelopment programme the brand-new Sports and Community Centre ‘The Hill’ was officially opened on 27[th] January 2020. With capital funding from Cherwell District Council and Sport England, The Hill is operated by BCC working with a range of partners to serve all sections of the community within and around the Bretch Hill area. Core values for the day-to-day operation of The Hill are:
Offering hospitality and building community
Enabling development of a stronger sense of identity
Wellbeing (whole life – physical/mental/emotional/spiritual)
Connecting people

Unfortunately, the commencement of the lockdown in mid-March coincided with the planned launch of the new programme of activities within The Hill. Government restrictions resulted in it being closed almost half of the year, having to close/re-open several times, often with capacity reduced to comply with social distancing guidance. This resulted in an increase in the restricted funds held for The Hill of £67,445 over the year. The main funder, The National Lottery Community Fund, is content for this spending to be carried forward into the next year as covid-19 allows.

BANBURY COMMUNITY CHURCH

REPORT OF THE TRUSTEES for the year ended 31[st] March 2021 ( Continued)

Achievements and Performance (continued)

One part-time member of staff was placed on furlough for part of the year, whilst the full-time Community Development Manager, whose employment costs are fully covered by a restricted grant, worked continuously. This enabled the church to respond to particular needs/opportunities to serve as they arose and also for future planning and relationship building to continue. One example was between January and March 2021 when soup was produced weekly and delivered to older members of the community that were forced to self-isolate, often alone. This was undertaken in partnership with the local VSO branch and expanded to include buying and delivering fish and chips on Friday evenings to the same cohort of people.

Two partnerships that bore fruit during this time, particularly related to the challenges of lockdowns were one with Oxford United in the Community to run the Premier Kicks programme and another with Reducing the Risk, a charity working to serve people experiencing domestic abuse and those supporting them.

Involvement in the operation of Banbury Food Bank in partnership with other churches in the town. Again, the ability to offer clients chance to chat and mix with others was curtailed during the year.

Plans for the Future

The church’s key focus is on exploring how its activities can gradually re-commence as covid-19 restrictions ease. This applies equally to its regular services and its projects serving the community.
New skills have been developed through the pandemic, particularly relating to filming and broadcasting and it is anticipated that this will result in Sunday services continuing to be broadcast live when they restart in person. This will enable those that are not ready to mix in larger groups to continue to attend digitally and also help people that are shut-in for any reason to participate in ways that were not possible previously.
From engagement with the District Council and charity partners we anticipate increased levels of demand on both Faithworks and The Hill. As a result, the trustees are considering additional paid staffing resource for both – utilising a mixture of existing funds and new grant applications.

Financial Review

The total income for the year was £223,675 (2020 £174,905) and total expenditure was £142,145 (2020 £129,478) leaving a surplus of £81,530 for the year.

The closing funds for the church were unrestricted and designated £107,169 with restricted funds of £93,837.

Risk Assessment

The Charity Trustees regularly consider and formulate strategies to mitigate the financial operational risk against the church.

Reserves Policy

The reserves policy is to hold a minimum of three months average unrestricted expenditure in readily available cash and bank accounts, this would be in the region of £35,000. Total funds currently held are just over £193,000.

Investment Policy

The current investment policy of the charity is to hold any funds that are not required in the short term for day to day working capital, in an interest-bearing account with Stewardship.

BANBURY COMMUNITY CHURCH

REPORT OF THE TRUSTEES for the year ended 31[st] March 2021 ( Continued)

Grant Making Policy

Throughout the existence of the church, it has sought to support causes and projects both locally and internationally. This is in response to both national and international appeals, knowledge of needy situations and relationships with other charities and individuals. Grant making is fulfilled through a combination of direct grants to other organisations and individuals and through the work of the church staff team and members of congregation.

Structure, Governance and Management

The Charity is led by the Leadership and the Trustees.

Leaders

The role of the Leaders is summarized as follows:

Spiritual care and oversight of the church
Vision and direction (with bias towards spiritual direction)

Responsibilities of the Leaders are:

Oversight of pastoral care, especially prayer for the sick
Be visible in the life of the church, setting agenda and direction
Establishing/guarding core values and purpose of the church
Shared responsibility for teaching
Alongside the Trustees, identify and confirm the appointment of the new people added to the Trustee’s team
Provide supervision of staff and volunteers

Trustees

Role summarised as follows:

Legal responsibilities
Accountable for compliance of the law
Finance and Assets – Godly stewardship of resources and setting of budgets
Human resource appointment and legal responsibilities relating to staff
With the leaders identify, formally appoint and nurture new people to be added to the Trustee team

Approved by the trustees on 8th November 2021 and signed on its behalf by:

S Travis

…………………………………. Chair of Trustees

Banbury

BANBURY COMMUNITY CHURCH

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES

I report to the trustees on my examination of the accounts of Banbury Community Church for the year ended 31st March 2021.

Responsibilities and Basis of Report

As the charity’s trustees 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 2011 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

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the accounts do not accord with those records; or
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.

A P Williams FCCA CTA A J Carter & Co Chartered Accountants

22b High Street Witney Oxon OX28 6RB

12th November 2021

BANBURY COMMUNITY CHURCH

STATEMENT OF FINANCIAL ACTIVITIES

(including an income and expenditure account) for the year ended 31[st] March 2021

Note Income from: Donations and legacies 3 Investments 4 Other income 5 Grants Total incoming resources Expenditure on: Raising funds Charitable activities 5 Total expenditure Net income/(expenditure) and net movement in funds for the year Transfer between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward	Unrestricted Restricted Total Funds Funds Funds 2021 £ £ £ 83,255 100 83,355 43 - 43 2,120 2,450 4,570 - 135,707 135,707 85,418 138,257 223,675 - 3,100 3,100 67,775 71,270 139,045 67,775 74,370 142,145 17,643 63,887 81,530 - - - 17,643 63,887 81,530 89,526 29,950 119,476 £107,169 £93,837 £201,006	Total Funds 2020 £ 106,021 317 - 68,567
		174,905
		10,800 118,678
		129,478
		45,427 -
		45,427 74,049 £119,476

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derives from continuing activities.

The notes on pages 8 to 14 form part of these financial statements

BANBURY COMMUNITY CHURCH

BALANCE SHEET as at 31[st] March 2021

Note Fixed assets Tangible assets 10 Total fixed assets Current assets Debtors 11 Cash at bank and in hand Total current assets Liabilities Creditors falling due within one year 12 Net current assets Total assets less current liabilities Total net assets 13 The funds of the Charity Restricted income funds 14 Unrestricted income funds 14 Revaluation reserve Total unrestricted funds Total charity funds	2021 £ 6,491 6,491 5,352 193,850 199,202 4,687 194,515 201,006 £201,006 93,837 107,169 - 107,169 £201,006	2020 £ 2,362
		2,362
		2,701 118,226
		120,927 3,813
		117,114
		119,476 £119,476
		29,950
		89,526 -
		89,526 £119,476

These accounts were approved by the trustees and authorised for issue on: 8th November 2021 and are signed on their behalf by:

S Travis ……………………… Trustee

The notes on pages 8 to 14 form part of these financial statements

BANBURY COMMUNITY CHURCH

NOTES TO THE ACCOUNTS

for the year ended 31[st] March 2021

1. Accounting Policies

The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a) Basis of Preparation

The 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) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

b) Public Benefit Entity

Banbury Community Church meets the definition of a public benefit entity under FRS102.

c) Going Concern

The Trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.

d) Income Recognition Policies

Items of income are recognised and included in the accounts when all of the following criteria are met:

The charity has entitlement to the funds;
any performance conditions attached to the items of income have been met or are fully within the control of the charity;
there is sufficient certainty that receipt of the income is considered probable; and
the amount can be measured reliably.

Income received in advance of a specific performance or provision of other specified service is deferred until the criteria for income recognition are met.

e) Interest Receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the bank.

f) Fund Accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the Charity. Designated funds are unrestricted funds of the Charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for the particular areas of the Charity’s work or for specific projects being undertaken by the Charity.

g) Expenditure and Irrecoverable VAT

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.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

BANBURY COMMUNITY CHURCH

NOTES TO THE ACCOUNTS

for the year ended 31[st] March 2021 (continued)

h) Tangible Fixed Assets

Individual fixed assets costing £1,000 or more are capitalised at cost and are depreciated over their estimated useful economic lives on the straight line basis as follows:

Asset Annual Category Rate Church equipment Over 3 years

  - i) **Debtors**

     - Trade and other debtors are recognised at the settlement amounts due after any trade discount offered.  Prepayments are valued at the amount prepaid after taking account of any trade discounts due.

  - j) **Cash at Bank and in Hand** Cash at bank and cash in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

  - k) **Pension costs and other post-retirement benefits**

     - The Charity operates a defined contribution pension scheme. Contributions payable to the charities pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

  - l) **Creditors and Provisions** Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Legal Status of the Charity
The Banbury Community Church is a charitable incorporated organisation registered with the Charity Commission in England & Wales. The charity registration number is 1166594.

3. Income from donations

Donations Gift Aid	2021 £ 71,937 11,418 £83,355	2020 £ 92,033 13,988 £106,021

Of the £83,355 received in 2021 (2020: £106,021) £100 was restricted funds (2020: £nil and £83,255 (2020: £106,021) unrestricted funds.

4. Investment income

Interest Received	2021 £ 43 £43	2020 £ 317 £317

BANBURY COMMUNITY CHURCH

NOTES TO THE ACCOUNTS

for the year ended 31[st] March 2021 (continued)

5. Other income

Rental income Fundraising Job retention scheme grants	2021 £ 2,450 55 2,065 £4,570	2020 £ - - - £-

Of the £4,570 received in 2021 (2020: £nil) £2,450 was restricted funds (2020: £nil) and £2,120 (2020: £nil) unrestricted funds.

5. Analysis of expenditure on charitable activities

Charitable Projects Tithe Grants Administration and Support Costs Staff Salaries Employers NIC Employers Pension Contributions Staff Training Staff Events Gifts Guest Speaker Hospitality and Refreshments Leadership Costs Resources Travel and Subsistence Rent and Occupancy Costs Insurance Telephone and Office Expenses Professional fees Subscriptions Bank Charges Sundry Expenses Depreciation Governance Costs Total	2021 Total £ 4,446 8,373 84,764 1,405 1,948 360 38 1,230 - 297 2,038 1,312 3,550 12,557 2,289 3,687 1,474 3,699 178 295 4,205 900 £139,045	2020 Total £ 8,940 7,020 63,698 - 1,005 717 150 1,956 550 2,108 443 994 4,430 15,669 2,030 3,532 - 1,332 312 713 1,429 1,650 £118,678

Of the £139,045 expenditure in 2021 (2020: £118,678), £67,775 was charged to unrestricted funds (2020: funds (2020: £72,921) and £71,270 to restricted funds (2020: £45,757).

BANBURY COMMUNITY CHURCH

NOTES TO THE ACCOUNTS

for the year ended 31[st] March 2021 (continued)

6. Net income/(expenditure) for the year

Net income/(expenditure) for the year
This is stated after charging: Depreciation Independent examiner's fee Analysis of staff costs and trustee remuneration and expenses Salaries and wages Social security costs Pension costs	2021 £ 4,205 900 2021 £ 84,764 1,405 1,948 £88,117	2020 £ 1,429 900
		2020 £ 63,698 - 1,005 £64,703

7. Analysis of staff costs and trustee remuneration and expenses

No employees had emoluments in excess of £60,000 (2020: Nil).

The charity trustees were not paid or received any other benefits from employment with the charity in the year (2020: £Nil) neither were they reimbursed expenses during the year (2020: £Nil). No charity trustee received payment for professional or other services supplied to the charity (2020: £Nil).

8. Staff numbers

The average monthly number of employees during the year was as follows:

2021	2020
Number	Number
5	4

9. Corporation tax

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

10. Tangible fixed assets

Cost: As at 1 April 2020 Additions Disposals As at 31 March 2021 Depreciation: As at 1 April 2020 Charge for year On disposals As at 31 March 2021 Net book value: As at 31 March 2021 As at 31 March 2020	Church Equipment £ 56,179 8,334 - 64,513 53,817 4,205 - 58,022 £6,491 £2,362	Total £ 56,179 8,334 -
		64,513
		53,817 4,205 -
		58,022
		£6,491
		£2,362

BANBURY COMMUNITY CHURCH

NOTES TO THE ACCOUNTS

for the year ended 31[st] March 2021 (continued)

11. Debtors

Gift Aid Other debtors	2021 £ 5,352 - £5,352	2020 £ 2,701 - £2,701

12. Creditors: amounts falling due within one year Trade Creditors Accruals Taxation and social security costs Other	2021 £ 1,179 900 942 1,666 £4,687	2020 £ 701 2,340 568 204 £3,813

Analysis of net assets between funds

Tangible fixed assets Cash at bank and in hand Other net current assets/(liabilities) Total	General Designated Restricted Fund Funds Funds Total £ £ £ £ 1,487 - 5,004 6,491 44,840 60,177 88,833 193,850 665 - - 665 £46,992 £60,177 £93,837 £201,006

Analysis of charitable funds Analysis of movements in restricted funds

The Hill Faithworks No Place Like Home The Hill New Building Total	Balance Incoming Resources Funds 01.04.2020 resources expended Transfers 31.03.2021 £ £ £ £ £ 9,400 116,657 (49,212) - 76,845 10,550 21,600 (25,158) - 6,992 - - - - 10,000 - - 10,000 £29,950 £138,257 £(74,370) £- £93,837

BANBURY COMMUNITY CHURCH

NOTES TO THE ACCOUNTS

for the year ended 31[st] March 2021 (continued)

Analysis of movements in unrestricted funds

General fund Designated Funds Building Fund Close Down Fund Tithe/Missions Fund Vision Fund Total	Balance Incoming Resources Funds 01.04.2020 resources expended Transfers 31.03.2021 £ £ £ £ £ 29,349 85,418 (67,775) - 46,992 5,000 - - - 5,000 35,000 - - - 35,000 2,048 - - - 2,048 18,129 - - - 18,129 £89,526 £85,418 £(67,775) £- £107,169

Name of unrestricted fund

Description, nature and purposes of the fund

General fund The 'free reserves' after allowing for all designated funds. Building Fund Ring-fenced for if the charity ever acquires its own building Close Down Fund To provide for closing-down costs such as redundancy payments should the church ever cease to operate. Set at three months expenditure currently comprising £35,000.

Tithe/Missions Fund The Tithe Fund is our giving/donations from the church (to local work or work abroad).

Vision Fund Is available to support the development of the church. It can only be used to cover operating costs when deemed essential.

15. Lease agreements

A twenty-one year lease was undertaken for The Hill Sport and Community Centre, Dover Avenue, Banbury, on 15th January 2020. This is leased to Banbury Community Church at a peppercorn rent with a repair and maintenance agreement in place with the landlord, Cherwell District Council.