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
1.
## **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**
2.
## **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**
3.
## **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.
4.
## **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:
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.
A P Williams FCCA CTA A J Carter & Co Chartered Accountants
22b High Street Witney Oxon OX28 6RB
12th November 2021
6.
## **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
7.
## **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**
8.
## **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**
9.
## **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.
2. **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**
10.
## **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**
11.
## **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**
12.
## **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|
|---|---|---|
13. **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|
|---|---|
14. **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|
|---|---|
13.
## **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.