REGISTERED CHARITY NUMBER: 1166939
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
FOR
COMMUNITY CHURCH BISHOPS STORTFORD
COMMUNITY CHURCH BISHOPS STORTFORD
CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 March 2023
| Page | |
|---|---|
| Report of the Trustees | 1 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Cash Flow Statement | 8 |
| Notes to the Cash Flow Statement | 9 |
| Notes to the Financial Statements | 10 to 17 |
| Detailed Statement of Financial Activities | 18 |
COMMUNITY CHURCH BISHOPS STORTFORD
REPORT OF THE TRUSTEES for the year ended 31 March 2023
The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES VISION
The Vision Statement of Community Church Bishops Stortford is that we will be "the Family of God in the Presence of God displaying the Glory of God." This is the big picture destination that we are aiming for in every area of our lives and the three key words in this vision statement are:
Family: We seek to display committed, loving and healthy family relationships together because are first and foremost a family rather than an organisation or an institution.
Presence: God has spoken prophetically to us that we are to be a place of His Presence - a place of residential anointing where His presence amongst us is tangible and experiential.
Glory: We exist for His Glory. Our passion is to see His Glory displayed among us and through us, and that His Glory will be worshipped and honoured in our individual lives, families, communities, and to the ends of the earth.
Our vision is to be a church:
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Where God's presence and power bring healing, salvation and deliverance.
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That encourages one another to grow into mature followers of Christ.
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Serving the needs of the wider community.
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Where children and young people want to be.
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That plants new churches, reaches the region and touches nations.
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Equipping people here, from the region and beyond.
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Gathering 900 people of all generations and many nations.
Some of the core values that we hold here at Community Church are; honour, authenticity, passion, generosity and courage.
We work in partnership with our churches and organisations within Bishops Stortford and the UK and these include:
Newfrontiers: We are part of the Newfrontiers, a worldwide network of over 850 churches in 60 nations: www.newfrontierstogether.org.
Relational Mission (RM): within Newfrontiers we are part of Relational Mission, a growing family of churches committed to seeing lives and communities transformed by the grace of God: www.relationalmission.org.
The Evangelical Alliance: We are a member of the Evangelical Alliance, which is made up of thousands of churches within the UK, and works to represent Evangelical Christians: www.eauk.org.
Thirst Youth Café (Bishops Stortford Youth Project): We are closely connected with this local Bishops Stortford Charity established to engage with youth through its Youth Café 'Thirst'.
Additionally, there are a number of other charities we have relationship with, to which we give generously too during the course of the year.
Grantmaking
When they meet, the Trustees review the grants proposed by the church elders. They review these grants to ensure that they fall within the objectives of the charity and that there are sufficient reserves available.
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COMMUNITY CHURCH BISHOPS STORTFORD
REPORT OF THE TRUSTEES
for the year ended 31 March 2023
ACHIEVEMENT AND PERFORMANCE
Review of the year
This past year has seen return to full in person meetings with the reduction and ending of Covid restrictions.
Church Life; this year has seen the continuation of 'in person' Sunday morning meetings, along with a wide variety of ministries and groups. Sunday morning sermon series have included; Scripture; practicing the way, Community: practicing the way, Dambusters, Playmakers, Kingdom, and the Choose Life series.
Overseas Support and Ministry; We continue to be connected to Relational Mission, part of the Newfrontiers family, and we also have relationships internationally; particularly with long term connection with churches in Ukraine, and a church in Berkel, Holland. We have also supported the sending of the Lines family to New York, and Pete and Miriam Williams to Taiwan. We donate generously to Relational Mission and a number of other charities to support our goals.
Support of Churches; We also continue to release our lead elder part-time to oversee a number of other churches in the region as part of the Relational Mission Apostolic Team.
During this financial year we have said goodbye to Oskan Edwardson as a Trustee and thank him for the many years of contributions as a Trustee. The rest of the trustee team remains unchanged and is comprised of Stuart Croft, Andy Lee, Phyllis Alaezi, Esther Young-Harry.
The charity has been able to emerge from this period in a stable financial position. We are deeply thankful to all those who generously support the church. With the actions taken, and the ongoing support of the members of the church the Trustees are confident that the church is well placed to manage this unprecedented challenge.
The activities of Community Church Bishops Stortford could not happen without the commitment, effort and passion of its many members. We take the opportunity to thank our many volunteers for the significant contributions they bring.
FINANCIAL REVIEW
Financial Review
The principal source of funding for the Church is donations. For the year ended 31 March 2023, the Church received £491,740 in total from all of its sources of income. Total expenditure in the year amounted to £511,231. This compares to figures for the previous period ending 31st March 2022 of £498,659 total income, and a total expenditure of £440,104.
Reserves and investment policy
The Trustees Policy on Reserves and Investments is to make maximum use of available funds to further the aims of the charity and to use low risk investment, which maintains ready access to the reserves. The Trustees have the powers to invest in such funds as they see fit.
The balance of the charity's working fund is maintained at a level commensurate with the charity's cash flow, without necessitating restrictive phasing of medium spend projects across the financial year. With the exception of funds designated from time to time for specific high cost projects (e.g. purchase or extensive modifications of buildings) which are held for a limited period in a separate account, the charity does not hold high levels of reserves.
The Trustees consider that the free reserves are equivalent to the general funds net current assets. This excludes the fixed assets, which are needed for the continuing use of the charity. They believe the free reserves should be approximately £75,000 which is two months budgeted expenditure for 2022/23 financial year.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a constitution, and is a Charitable Incorporated Organisation (CIO).
Trustees
The Trustees meet on a regular basis throughout the year. The day to day management of the Charity is delegated to the Church Elders, who report to the Trustees.
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COMMUNITY CHURCH BISHOPS STORTFORD
REPORT OF THE TRUSTEES for the year ended 31 March 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT Appointment and training of new Trustees
New Trustees are appointed by the Elders, in consultation with the Trustees. New Trustees are selected from within the church family. The induction process for any newly appointed trustee comprises of an initial meeting with the Chair of Trustees in order to understand their responsibilities and the framework within which the church operates. In addition to explaining the powers and responsibilities of the Board of Trustees New Trustees are also provided with a copy of the Trust Deed, annual accounts and a copy of the Charity Commission's guidance 'The Essential Trustee: What You Need to Know'.
Trustee Meetings:
The Trustees typically meet regularly through the year. At the trustee's discretion an Elder is often invited to attend part of the trustee meetings. The Trustees retain responsibility for the overall strategic decisions of the Charitable Incorporated Organisation (CIO), and are responsible for approving budgets and monitoring on-going financial performance against those budgets. The Elders are responsible for providing the spiritual leadership and vision of the church, and responsibility is also delegated to the Elders for the day to day management of the church's activities.
Governance - Internal Controls and Risk Management
The Trustees, key staff members, and representatives of the trustees maintain a risk review document. This is regularly re reviewed, and updated as necessary. The key areas considered are; governance and management of the charity, external influences and risks, safeguarding, data protection, human resources, health and safety, and finance. The individual risk factors within these general areas were assessed to determine the likelihood of the risk occurring, its potential impact, control procedures in place to limit the risk, assignment of responsibility and further actions to be taken. The Trustees are satisfied that systems are in place to monitor, manage and mitigate the church's exposure to major risks.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1166939
Principal address
Charis Centre Water Lane Bishops Stortford Hertfordshire CM23 2JZ
Trustees
O Edwardson – resigned April 2023 S Croft - Chair – resigned October 2023 A Lee P Alaezi E Young-Harry
Independent Examiner
Marsh Solutions Limited 82 Berechurch Hall Road Colchester Essex CO2 8RF
Elders
P Vincent A Stroud G McCormick
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COMMUNITY CHURCH BISHOPS STORTFORD
REPORT OF THE TRUSTEES for the year ended 31 March 2023
10/01/2024
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
Stuart Croft (Jan 10, 2024 19:45 GMT)
........................................................................ S Croft - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF COMMUNITY CHURCH BISHOPS STORTFORD
Independent examiner's report to the trustees of Community Church Bishops Stortford
I report to the charity trustees on my examination of the accounts of Community Church Bishops Stortford (the Trust) for the year ended 31 March 2023.
Responsibilities and basis of report
As the charity trustees of the Trust 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 Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Accounting Technicians, which is one of the listed bodies.
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:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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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.
Christopher Marsh MAAT
Marsh Solutions Limited 82 Berechurch Hall Road Colchester Essex CO2 8RF
11/01/2024 Date: .............................................
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COMMUNITY CHURCH BISHOPS STORTFORD
STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2023
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Other trading activities 3 Investment income 4 Other income Total EXPENDITURE ON Charitable activities 5 Advancement of the Gospel NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 449,610 7,197 1,732 - 458,539 463,351 (4,812) 241,677 236,865 |
Restricted funds £ 33,201 - - - 33,201 47,880 (14,679) 1,084,607 1,069,928 |
31.3.23 Total funds £ 482,811 7,197 1,732 - 491,740 511,231 (19,491) 1,326,284 1,306,793 |
31.3.22 Total funds £ 492,604 4,313 24 1,718 498,659 440,104 58,555 1,267,729 1,326,284 |
|---|---|---|---|---|
CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
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COMMUNITY CHURCH BISHOPS STORTFORD
BALANCE SHEET 31 March 2023
| Notes FIXED ASSETS Tangible assets 11 CURRENT ASSETS Debtors 12 Cash at bank and in hand CREDITORS Amounts falling due within one year 13 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 14 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted fund £ 2,687 50,784 206,396 257,180 (23,002) 234,178 236,865 236,865 |
Restricted funds £ 677,772 - 392,156 392,156 - 392,156 1,069,928 1,069,928 |
31.3.23 Total funds £ 680,459 50,784 598,552 649,336 (23,002) 626,334 1,306,793 1,306,793 236,865 1,069,928 1,306,793 |
31.3.22 Total funds £ 681,354 46,955 611,523 658,478 (13,548) 644,930 1,326,284 1,326,284 241,677 1,084,607 1,326,284 |
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 10/01/2024 ............................................. and were signed on its behalf by:
Stuart Croft (Jan 10, 2024 19:45 GMT) ............................................. S Croft - Trustee
The notes form part of these financial statements
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COMMUNITY CHURCH BISHOPS STORTFORD
| CASH FLOW STATEMENT for the year ended 31 March 2023 Notes Cash flows from operating activities Cash generated from operations 1 Net cash (used in)/provided by operating activities Cash flows from investing activities Interest received Net cash provided by investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
31.3.23 £ (14,703) (14,703) 1,732 1,732 (12,971) 611,523 598,552 |
31.3.22 £ 91,720 91,720 24 24 91,744 519,779 611,523 |
|---|---|---|
The notes form part of these financial statements
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COMMUNITY CHURCH BISHOPS STORTFORD
NOTES TO THE CASH FLOW STATEMENT for the year ended 31 March 2023
1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Interest received (Increase)/decrease in debtors Increase in creditors Net cash (used in)/provided by operations |
31.3.23 £ (19,491) 895 (1,732) (3,829) 9,454 (14,703) |
31.3.22 £ 58,555 1,194 (24) 28,292 3,703 91,720 |
|---|---|---|
2. ANALYSIS OF CHANGES IN NET FUNDS
| At 1.4.22 | Cash flow | At 31.3.23 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank and in hand | 611,523 | (12,971) | 598,552 |
| 611,523 | (12,971) | 598,552 | |
| Total | 611,523 | (12,971) | 598,552 |
The notes form part of these financial statements
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COMMUNITY CHURCH BISHOPS STORTFORD
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements and assessment of going concern
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
The financial statements are presented in sterling (£).
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
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the requirement of paragraph 3.17(d);
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the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c).
Critical accounting judgements and key sources of estimation uncertainty
In preparing financial statements it is necessary to make certain judgements, estimated and assumptions that affect the amounts recognised in the financial statements. The following judgements and estimates are considered by the trustees to have most significant effect on amounts recognised in the financial statements. Useful economic life of tangible fixed assets:
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Allocation and apportionment of costs
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - in accordance with the property Fixtures and fittings - 25% on reducing balance Computer equipment - 25% on reducing balance
continued...
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COMMUNITY CHURCH BISHOPS STORTFORD
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2023
1. ACCOUNTING POLICIES - continued
Taxation
The charity is exempt from tax on its charitable activities.
Debtors
Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.
Cash at bank and in hand
Cash at bank and in hand includes cash, current bank accounts and deposit bank accounts with no withdrawal limitations.
Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will 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 are recognised at their settlement amount.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Financial instruments
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2. DONATIONS AND LEGACIES
| Donations Gift aid 3. OTHER TRADING ACTIVITIES Hall Hire |
31.3.23 £ 411,064 71,747 482,811 31.3.23 £ 7,197 |
31.3.22 £ 426,505 66,099 492,604 31.3.22 £ 4,313 |
|---|---|---|
continued...
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COMMUNITY CHURCH BISHOPS STORTFORD
NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023
| 4. | INVESTMENT INCOME | ||
|---|---|---|---|
| 31.3.23 | 31.3.22 | ||
| £ | £ | ||
| Deposit account interest | 1,732 | 24 | |
| 5. | NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging: | |||
| 31.3.23 | 31.3.22 | ||
| £ | £ | ||
| Independent examiners fee | 1,850 | 1,200 | |
| 6. | GRANTS PAYABLE | ||
| 31.3.23 | 31.3.22 | ||
| £ | £ | ||
| Advancement of the Gospel | 92,366 | 69,407 | |
| Included in the above were grants paid to institutions during the year was as follows: | |||
| 31.3.23 | 31.3.22 | ||
| £ | £ | ||
| Churches Together | - | 75 | |
| Bishops Stortford Money Advice Service | - | 1,250 | |
| Evangelical Alliance | 350 | 350 | |
| Holiday Bible Week | 1,000 | 1,000 | |
| Relational Mission | 28,815 | 26,350 | |
| Bishops Stortford Youth Project | 16,125 | 15,400 | |
| St Elizabeths | 300 | 300 | |
| Bishops Stortford Foodbank | 2,555 | 560 | |
| International Justice Mission | - | 51 | |
| Night Shelter | 1,965 | 560 | |
| The British Red Cross | 105 | 5,425 | |
| Stort Valley Schools Trust | - | 220 | |
| Tearfund | 60 | - | |
| Life Church | 2,000 | - | |
| Stewardship Ukraine Fund | 23,590 | - | |
| 76,865 | 51,541 |
continued...
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COMMUNITY CHURCH BISHOPS STORTFORD
NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023
7. SUPPORT COSTS
| SUPPORT COSTS | |||
|---|---|---|---|
| Governance | |||
| Finance | costs | Totals | |
| £ | £ | £ | |
| Advancement of the Gospel | 1,431 | 3,370 | 4,801 |
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Key management
The trustees consider the Key Management to be the Elders.
During the year the Key Management received remuneration of £142,507 gross pay (2022: £142,933), £16,746 employer's NI contribution (2022: £16,065) and employer's pension contributions of £13,118 (2022: £14,719).
9. STAFF COSTS
| STAFF COSTS | ||
|---|---|---|
| Wages and salaries Social security costs Other pension costs |
31.3.23 £ 272,066 21,432 18,881 312,379 |
31.3.22 £ 243,990 17,439 18,742 |
| 280,171 |
The average monthly number of employees during the year was as follows:
| Church Operations | 31.3.23 8 |
31.3.22 8 |
|---|---|---|
No employees received emoluments in excess of £60,000.
continued...
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COMMUNITY CHURCH BISHOPS STORTFORD
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2023
| 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 446,824 Other trading activities 4,313 Investment income 24 Other income 1,718 Total 452,879 EXPENDITURE ON Charitable activities Advancement of the Gospel 399,394 NET INCOME 53,485 RECONCILIATION OF FUNDS Total funds brought forward 188,192 TOTAL FUNDS CARRIED FORWARD 241,677 11. TANGIBLE FIXED ASSETS Fixtures Freehold and property fittings £ £ COST At 1 April 2022 and 31 March 2023 677,772 339 DEPRECIATION At 1 April 2022 - 252 Charge for year - 22 At 31 March 2023 - 274 NET BOOK VALUE At 31 March 2023 677,772 65 At 31 March 2022 677,772 87 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors Gift Aid Recoverable Prepayments |
Restricted funds £ 45,780 - - - 45,780 40,710 5,070 1,079,537 1,084,607 Computer equipment £ 13,596 10,101 873 10,974 2,622 3,495 31.3.23 £ 210 2,249 43,239 5,086 50,784 |
Total funds £ 492,604 4,313 24 1,718 498,659 440,104 58,555 1,267,729 1,326,284 Totals £ 691,707 10,353 895 11,248 680,459 681,354 31.3.22 £ - 2,368 40,703 3,884 46,955 |
||
|---|---|---|---|---|
continued...
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COMMUNITY CHURCH BISHOPS STORTFORD
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2023
13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 31.3.23 | 31.3.22 | |
|---|---|---|
| £ | £ | |
| Trade creditors | 5,029 | 2,976 |
| Taxation and social security | 6,539 | 5,552 |
| Other creditors | 11,434 | 5,020 |
| 23,002 | 13,548 |
14. MOVEMENT IN FUNDS
| Unrestricted funds General fund Restricted funds Special Offerings - including pastoral care Ukraine Building Fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Special Offerings - including pastoral care Ukraine TOTAL FUNDS |
At 1.4.22 £ 241,677 7,417 14,132 1,063,058 1,084,607 1,326,284 Incoming resources £ 458,539 21,558 11,643 33,201 491,740 |
Net movement in funds £ (4,812) (547) (14,132) - (14,679) (19,491) Resources expended £ (463,351) (22,105) (25,775) (47,880) (511,231) |
At 31.3.23 £ 236,865 6,870 - 1,063,058 1,069,928 1,306,793 Movement in funds £ (4,812) (547) (14,132) (14,679) (19,491) |
|
|---|---|---|---|---|
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continued...
COMMUNITY CHURCH BISHOPS STORTFORD
NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023
14. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net movement At 1.4.21 in funds £ £ Unrestricted funds General fund 188,192 53,485 Restricted funds Special Offerings - including pastoral care 7,726 (309) Ukraine (430) 14,562 Building Fund 1,063,058 - Youth Fund 9,183 (9,183) 1,079,537 5,070 TOTAL FUNDS 1,267,729 58,555 Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 452,879 (399,394) Restricted funds Special Offerings - including pastoral care 20,167 (20,476) Ukraine 21,687 (7,125) Youth Fund 3,926 (13,109) 45,780 (40,710) TOTAL FUNDS 498,659 (440,104) A current year 12 months and prior year 12 months combined position is as follows: Net movement At 1.4.21 in funds £ £ Unrestricted funds General fund 188,192 48,673 Restricted funds Special Offerings - including pastoral care 7,726 (856) Ukraine (430) 430 Building Fund 1,063,058 - Youth Fund 9,183 (9,183) 1,079,537 (9,609) TOTAL FUNDS 1,267,729 39,064 |
At 31.3.22 £ 241,677 7,417 14,132 1,063,058 - 1,084,607 1,326,284 Movement in funds £ 53,485 (309) 14,562 (9,183) 5,070 58,555 At 31.3.23 £ 236,865 6,870 - 1,063,058 - 1,069,928 1,306,793 |
|---|---|
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continued...
COMMUNITY CHURCH BISHOPS STORTFORD
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2023
14. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Special Offerings - including pastoral care Ukraine Youth Fund TOTAL FUNDS |
Incoming resources £ 911,418 41,725 33,330 3,926 78,981 990,399 |
Resources Movement expended in funds £ £ (862,745) 48,673 (42,581) (856) (32,900) 430 (13,109) (9,183) (88,590) (9,609) (951,335) 39,064 |
|---|---|---|
Fund Descriptions
Special Offerings: This fund represents the monthly offerings taken to support and bless others in need. It also includes any pastoral care giving.
Ukraine: This fund represents money received to support Christian Ministry and Advancement of the Gospel in the Ukraine
Building Fund: This fund represents both the value of the property the charity currently owns and also includes the fund being saved to fund future building projects.
15. RELATED PARTY DISCLOSURES
During the year J Stroud, the wife of a member of the Key Management was remunerated £8,759 (2022: £8,062) including £20 of Employers NI (2022: £nil) for her role as Office Administrator.
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