Registered Company: 10226872 Registered Charity: 1168288
OPEN DOOR CHURCH (ST NEOTS)
TRUSTEES ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2023
OPEN DOOR CHURCH (ST NEOTS) TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2023
| Contents: | Page |
|---|---|
| Reference And Administrative Details | 1 |
| Trustees’ Annual Report (Including Directors Report) | 2 |
| Independent Examiner’s Report | 6 |
| Statement Of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes To The Financial Statements | 9 - 16 |
Open Door Church
OPEN DOOR CHURCH (ST NEOTS) TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2023
REFERENCE AND ADMINISTRATIVE DETAILS
CHARITY COMMISSION NO.: 1168288 COMPANY NO.: 10226872
TRUSTEES AND DIRECTORS: Mr I Hoile Mr M Thomas Mr A Powers Mr S Selley Mr S Bresnen
RESPONSIBLE INDIVIDUALS Elders :
Treasurer ADDRESS Suites 2 – 6 31A St Neots Road Eaton Ford St. Neots Cambridgeshire PE19 7BA INDEPENDENT EXAMINER Thompsons Accountancy Services Ltd Grove House, 1 Grove Place, Bedford MK40 3JJ PRINCIPAL BANKERS CAF Bank Ltd 25 Kings Hill Ave. Kings Hill West Malling Kent ME19 4JQ
Ian Hoile Antony Powers Christopher Jarvis Steve Bell Antony Powers
Open Door Church
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OPEN DOOR CHURCH (ST NEOTS) TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2023
TRUSTEES’ ANNUAL REPORT (INCLUDING DIRECTORS REPORT)
The trustees, who are also the directors of the charitable company for the purposes of company law, present herewith their annual report, together with the financial statements of the charity for the year ended 31st March 2023. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
The Financial Statements have been prepared in accordance with the accounting policies set out in Note 1 to the Accounts and comply with the company’s Memorandum and Articles of Association, 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 Republic of Ireland issued in October 2019 (FRS 102).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Open Door Church (St Neots) hereinafter referred to as The Open Door Church (or abbreviated as ODC) is registered as a charitable company limited by guarantee. The Memorandum and Articles of Association were approved in May 2016 and the company was incorporated on 11[th] June 2016. The Open Door Church, St Neots was previously a charitable trust (charity reg. no. 1044102) which was registered in December 1994, all assets from the trust were transferred to the company on 1[st] April 2017.
The Memorandum and Articles of Association define the charitable objective as: For the public benefit, the advancement of the Christian religion in St Neots, Cambridgeshire and district and such other parts of the United Kingdom and the world as the Trustees may from time to time decide.
Trustees are elected by the Elders of the Church, and details of those people who were trustees at the date of this report and at any time during the period covered by this report are given on page 1. The Trustees meet at least annually to review church governance and finances and to agree the budget for the year including staff salaries and pension contributions. All major financial agreements are agreed and approved by the Trustees.
The Elders are responsible for the outworking of the budget and for day-to-day operation of the charitable activities.
The Church operates in association with New Frontiers and the Catalyst Network of Churches.
PUBLIC BENEFIT
The charity trustees have exercised their powers with due regard to the guidance on public benefit published by the Charity Commission to promote the charity's Objectives through our main activities, which are described in detail in the Review of Activities below. Our work through the St Neots Foodbank, hardship fund, kids work and other community activities are all to the public benefit.
SUMMARY FINANCIAL ACTIVITIES
Income of £261,645 has been received during the year (2022 - £233,446) and the net assets have increased to £519,673 (2022 - £498,087).
Our reserves policy is to provide at least 3 months of discretionary expenditure against a decline in income unless there are foreseen exceptional expenditures in the future budget.
Open Door Church
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OPEN DOOR CHURCH (ST NEOTS) TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2023
In the event of reserves exceeding anticipated expenditures by more than 6 months, the trustees will designate any excess to grow our building fund further.
RESTRICTED FUNDS
The following funds are restricted and not for use in general expenditure. Giles – The charity has been supporting Graham and Sarah Giles in their work in Zimbabwe by way of financial contribution for a number of years, we also administer the gathering of donations and gift aid specifically given for this work.
Building Fund – We are working towards the goal of purchasing our own building to use for all of our activities (see the Review of Activities). Gifts have therefore been given whose sole intent is to provide funding for a building and related costs of purchase and refitting and these funds have been separated from our general giving.
Hardship Fund - a fund created in 2020 to support those in financial hardship due to the Coronavirus pandemic but now covering financial hardship no matter the cause.
We also have small restricted funds to contain specific donations for youth, kids and community work.
DESIGNATED FUNDS
The trustees have decided that £60,000 of general reserves will be designated to the Building Fund as we continue to build towards the goal of owning our own property.
OBJECTIVES AND ACTIVITIES
Over the past year we’ve been encouraged by what has happened within the OpenDoor Church community. Confidence has gradually been returning amongst people meeting together and in recent months, our gatherings feel much more like they did before the pandemic. Attendance on Sundays is growing again and there is a renewed vibrancy in the way people are worshipping and relating with one another.
At the start of 2022 we set out with the following goals which all align with our charitable objective to further the Christian faith.
-
1) Growing together aiming for 120 people of all ages in small groups. This has been achieved with around 100 adults and 20 youth and children in groups at any time. These have a focus on growing love for God, love for one another and love for those around us.
-
2) Mission aiming for 100 stories of people reaching out into our community, serving and loving others. Although we didn’t manage to record this number of stories, we realised this was more about people’s reluctance to submit them, rather than what they were or weren’t doing in the community. We’ve been encouraged to hear of people helping neighbours, friends and family, work colleagues and those new to our town with house moves, hospital visits, reducing loneliness, integrating people into community, etc. We have launched a new community lunch club, run a thriving parent and toddler group, an Alpha course for people exploring faith and been part of the town wide Warm Spaces initiative. Our youth work continues to thrive, with an increasing number of young people from outside of the church community now involved. We have run large children and family events for those in our wider community such as Messy Christmas and a Light Party. We have also worked with other churches and organisations to provide a Foodbank, including the re-launch of a distribution centre on our premises and also been heavily involved in mentoring in schools and youth cafes.
-
3) Prayer aiming for a specific prayer week 3 times in the year with at least 50 people involved in these. This was achieved in 2 out of 3 of our prayer weeks, with slightly reduced numbers in the
-
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OPEN DOOR CHURCH (ST NEOTS) TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2023
3rd. Many people have been praying in new and creative ways including prayer walking around the town, Daniel fasting and a whole night of prayer.
-
4) Leadership with an aim of growing and transitioning the elders and trustee teams. We appointed a new elder this year and have had potential new trustees joining us in meetings. We also enabled 2 of our existing elders to take a sabbatical for 3 months each, which was hugely beneficial both for them and the church. In addition a key member of our staff team moved on, with their administration role being successfully handed over to someone new on the team. We also had 2 interns for the year who both contributed and grew significantly as a result of their time with us.
-
5) Planning with an aim of producing a medium term plan for the next 2 to 3 years and with particular attention to our building and facility needs. This is still a work in progress as we realised that we first needed more clarity coming out of the pandemic, about the type of church we are aiming to be over the coming years.
Supporting our friends in Zimbabwe….
As well as our work locally, we continue to partner with others particularly across Catalyst, our network of churches. We also continue to support a couple running a charity that works in a village in Zimbabwe. Over the past year, amongst other things, 73 pupils have been supported through a school sponsorship programme, they’ve run a pre-school with 3 staff and 20 children, an HIV support group for 28 people, supported 8 widows and 20 orphans and provided food aid for 50 families.
Focus for 2023/24….
As we continue to grow as a community that loves and follows Jesus in everyday life, there are a few things we need to prioritise;
-
We need to find suitable buildings and facilities for all our needs, particularly given our office lease is coming to an end and there is a possibility that our Sunday venue will be closed for significant redevelopment sometime from 2024. We are currently pursuing a possible building purchase, but need to continue to explore other options alongside this.
-
To make the above possible, we need to increase our income from regular giving and we are building up towards a pledge day to help with this later in the year. We are aware that in the current financial climate we must not take anything for granted and will keep a close eye on this.
-
As mentioned a key member of staff has moved on and although we’ve successfully covered the administrative part of their role, the other role they had was that of Children’s team leader. We need to either recruit a new leader for this position or find a way of providing ongoing support for others on our volunteer team as they take a lead.
-
We are making provision for another elder, full time on our staff to take a 3 month sabbatical later this year.
We continue to be very grateful for the support of all those in the OpenDoor Church community and the willingness of people to give, serve and be involved in different ways.
A Powers / I Hoile Date: 19/12/2023 Open Door Church
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OPEN DOOR CHURCH (ST NEOTS) TRUSTEES, ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 OPENDOOR CHURCH INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF OPEN DOOR CHURCH (ST NEOTS) I report to the charity trustees on my examlnatlon of the accounts of the charity for the year ended 31 March 2023 as set out on pages 6-15. Responslbllltles and basls of report As the charlty's trustees of the Company (and also the directors of the company for the purposes of company law), you are responslble for the preparatlon of the accounts in accordance with the requlrements of the Companles Act 2006 ('the 2006 Act"). Havlng satisfied myself that the accounts of the Company are not required to be audlted under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company's accounts as carried out under section 145 of the Charities Act 2011 ("the 2011 Act"). In carrying out my examlnation, I have followed the Directions given by the Charity Commisslon (under section 145(5)(b) of the 2011 Act. Independent examlners report Slnce the company's gross income exceeded £250,000 your examiner must be a member of a body listed in sectlon 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the Association of Chartered Certified Accountants (ACCA), 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 examlnatlon glvlng me cause to believe that in any material respect: accounting records were not kept in accordance with section 386 of the Companies Act 2006; or the accounts do not accord with such records; or the accounts do not comply with relevant accounting requirements under section 396 of the Companles Act 2006 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; or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). 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. Kevin Barrett FCCA Thompsons Accountancy Servlces Limited Registered with Institute of Chartered Accountants In England & Wales (ICAEW) Grove House 1 Grove Place Bedford MK40 3JJ Dated: 21 December 2023 Open Door Church Page:5
OPEN DOOR CHURCH (ST NEOTS) TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2023
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
Year Ending 31 March 2023
| Year Ending 31 March 2023 | ||||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | Total Funds | |||
| Note | Funds | Funds | 2023 | 2022 | ||
| £ | £ | £ | ||||
| Incoming Resources | ||||||
| Voluntary Income | 3,4 | 196,185 | 61,712 |
257,897 | 232,761 |
|
| Charitable Income | 290 | 40 |
330 | 529 |
||
| Income from Investments | 151 | 3,267 |
3,418 | 156 |
||
| Total income | 196,626 | 65,019 | 261,645 | 233,446 | ||
| Resources Expended | ||||||
| Staff Costs | 5 | 128,818 | - |
128,818 | 132,418 |
|
| Establishment Costs | 46,914 | - |
46,914 | 38,620 |
||
| Ministry Costs | 3,598 | 4,182 |
7,780 | 1,545 |
||
| Donations | 13,411 | 43,136 |
56,547 | 59,627 |
||
| Total Expenditure | 192,741 | 47,318 | 240,059 | 232,210 | ||
| Net income/(expenditure) | 3,885 | 17,701 | 21,586 | 1,236 | ||
| Transfers between funds | 9 | - | - |
- | - |
|
| Net movement in funds | 3,885 | 17,701 | 21,586 | 1,236 | ||
| Reconciliation of funds: | ||||||
| Total funds brought forward | 66,117 | 431,970 |
498,087 | 496,851 |
||
| Total funds carried forward | 70,002 | 449,671 | 519,673 | 498,087 |
Note 3 to the accounts contains the SOFA for previous FY for comparative purposes, note 4 contains analysis of Income and note 5 Expenditure analysis.
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OPEN DOOR CHURCH (ST NEOTS) TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2023
BALANCE SHEET
Year Ending 31 March 2023
| BALANCE SHEET Year Ending 31 March 2023 |
||||||
|---|---|---|---|---|---|---|
| Total | ||||||
| Unrestricted | Restricted | Total Funds | Funds | |||
| Note | Funds | Funds | 2023 | 2022 | ||
| £ | £ | £ | £ | |||
| Fixed assets | ||||||
| Tangible assets | 5.5 | - | 3,884 |
3,884 | - |
|
| Current assets | ||||||
| Debtors | 6 | 5,546 | 1,335 |
6,881 | 3,051 |
|
| Prepayments | 6 | 4,760 | - |
4,760 | 2,003 |
|
| Cash at bank and in hand | 64,271 | 444,452 |
508,723 | 497,005 |
||
| Total current assets | 74,577 | 445,787 | 520,364 | 502,059 | ||
| Liabilities | ||||||
| Creditors amounts falling due | ||||||
| within 1 year | 7 | 4,575 | - |
4,575 | 3,972 |
|
| Total Net Assets | 70,002 | 449,671 | 519,673 | 498,087 | ||
| Funds of the Charity | ||||||
| Unrestricted funds | 9 | 70,002 | 70,002 | 66,117 | ||
| Restricted funds | 9 | - | 449,671 |
449,671 | 431,970 |
|
| Total funds | 70,002 | 449,671 |
519,673 | 498,087 |
The notes on pages 8 to 15 form part of these financial statements.
For the year ending 31st March 2023, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors’ responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to charitable small companies.
A Powers (Trustee) Dated: 21 December 2023
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OPEN DOOR CHURCH (ST NEOTS) TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2023
NOTES TO THE FINANCIAL STATEMENTS
1. General Information
The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest whole pound.
The charity is a private company limited by guarantee under company number 10226872, registered in England and Wales, and as a registered charity in England and Wales under charity number 1168288.
The address of the registered office is Suites 2-6, 31a St Neots Road, Eaton Ford, St Neots, Cambridgeshire, PE19 7BA.
The company does not have a share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
2. Accounting Policies
Basis of preparation of financial statements
The financial statements have been prepared on a going concern basis under the historical cost convention.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice: applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the UK and Republic of Ireland issued in October 2019 (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice..
The Trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern due to the amount of cash held in comparison to annual expenditure. There have been no changes in the accounting policies during the year.
Donations, Legacies and Similar Incoming Resources
These are included in the Statement of Financial activities when: the charity becomes entitled to the donation, legacy or similar income and any conditions for receipt are met; the trustees are reasonably certain they will receive it; and the trustees are reasonably certain that the value can be reliably measured.
Tax Reclaims on Donations and Gifts
Incoming resources from tax claims are included in the Statement of Financial activities when applications for the previous period have been submitted to HMRC.
Pension Costs
The trust contributes to the personal pension schemes of staff members. Contributions payable are charged as expenditure in the period to which they relate.
Asset recognition
Equipment and property is recognised as a tangible asset where its purchase cost is above £1000.
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OPEN DOOR CHURCH (ST NEOTS) TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2023
Fund Accounting
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 and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Resources Expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with use of resources.
Governance costs are those incurred in connection with the administration of the charity and compliance with constitutional and statutory requirements.
Debtors and Creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses from impairment are recognised in expenditure.
Open Door Church
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OPEN DOOR CHURCH (ST NEOTS) TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2023
3. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES
The Statement of Financial Activities for the previous financial year ended 31 March 2022 is presented for illustrative purposes.
| Unrestricted | Restricted | Total Funds | ||
|---|---|---|---|---|
| Funds | Funds | 2022 | ||
| £ | £ | £ | ||
| Incoming Resources | ||||
| Voluntary Income | 181,757 | 51,004 |
232,761 | |
| Income from charitable activities | 529 |
- |
529 | |
| Income from Investments | 2 | 154 |
156 | |
| Total income | 182,288 | 51,158 | 233,446 | |
| Resources Expended | ||||
| Staff Costs | 132,418 | - |
132,418 | |
| Establishment Costs | 38,545 | 75 |
38,620 | |
| Ministry Costs | 994 | 551 |
1,545 | |
| Donations | 12,500 | 47,127 |
59,627 | |
| Total Expenditure | 184,457 | 47,753 | 232,210 | |
| Net income/(expenditure) | (2,169) | 3,405 | 1,236 | |
| Transfers between funds | (188) | 188 |
- | |
| Net movement in funds | (2,357) | 3,593 | 1,236 | |
| Reconciliation of funds: | ||||
| Total funds brought forward | 68,474 | 428,377 |
496,911 | |
| Total funds carried forward | 66,117 | 431,970 | 498,147 |
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OPEN DOOR CHURCH (ST NEOTS) TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2023
| 4. ANALYSIS OF INCOME for the year | 4. ANALYSIS OF INCOME for the year | ending March | 2023 | |||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | Total Funds | |||
| Funds | Funds | 2023 | 2022 | |||
| Voluntary Income | £ | £ |
£ | £ | ||
| Donations | 161,248 | 53,272 | 214,520 | 193,128 |
||
| Gift Aid | 34,937 | 8,440 | 43,377 | 39,633 |
||
| Total Voluntary | ||||||
| Income | 196,185 | 61,712 | 257,897 | 232,761 | ||
| Charitable Income | ||||||
| Sales | 140 | 40 | 180 | |||
| Ministry Gifts | 150 | - | 150 | 529 |
||
| Total Charitable | ||||||
| Income | 290 | 40 | 330 | 529 | ||
| Income from Investments | ||||||
| Interest | 151 | 3,267 | 3,418 | 156 |
||
| Total Income from | ||||||
| Investments | 151 | 3,267 | 3,418 | 156 | ||
| Grand Total Incoming Resources | 196,626 | 65,019 | 261,645 | 233,446 |
Of the 2022 Grand Total Incoming Resources 182,288 were Unrestricted and 51,158 were Restricted.
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OPEN DOOR CHURCH (ST NEOTS) TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2023
5. ANALYSIS OF EXPENDITURE for the year ending March 2023
| Unrestricted | Restricted | Total Funds | Total Funds | ||
|---|---|---|---|---|---|
| Funds | Funds | 2023 | 2022 | ||
| Expenditure on Charitable Activities | £ | £ |
£ |
£ |
|
| Staff Costs | |||||
| Employee Salaries | 110,485 | - |
110,485 |
110,688 |
|
| Employer's NIC | 6,339 | - |
6,339 |
6,839 |
|
| Pension Contributions | 11,343 | - |
11,343 |
11,086 |
|
| Visiting Speakers | 300 | - |
300 |
100 |
|
| Expenses | 351 | - |
351 |
1,365 |
|
| Leadership Training | - | - |
- |
2,340 |
|
| Total Staff Costs | 128,818 | - | 128,818 |
132,418 | |
| Establishment Costs | - | ||||
| Premises, rents, rates and services | 38,499 | - |
38,499 |
29,854 |
|
| Equipment | 390 | - |
390 |
651 |
|
| Insurances, Fees | 1,984 | 240 |
2,224 |
1,387 |
|
| Office and administration | 4,859 | (240) |
4,619 |
5,342 |
|
| Governance | 1,182 | - |
1,182 |
1,385 |
|
| Total Establishment Costs | 46,914 | - | 46,914 |
36,620 | |
| Ministry Costs | - | ||||
| Children | 722 | (11) |
711 |
532 |
|
| Youth | 539 | 3,324 |
3,863 |
371 |
|
| Community | 1,239 | 869 |
2,108 |
402 |
|
| Conferences,resources,training | 1,098 | - |
1,098 |
240 |
|
| Total Ministry Costs | 3,598 | 4,182 | 7,780 |
1,545 | |
| Donations | - | ||||
| Local Giving | 3,511 | 276 |
3,787 |
1,900 |
|
| Catalyst | 3,900 | - |
3,900 |
3,900 |
|
| Global Newfrontiers / Giles | 6,000 | 42,860 |
48,860 |
53,827 |
|
| Total Giving | 13,411 | 43,136 | 56,547 |
59,627 | |
| Total Outgoing Resources | 192,741 | 47,318 | 240,059 |
232,210 |
Of the 2022 total Outgoing Resources 184,457 were Unrestricted, 47,453 were Restricted
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OPEN DOOR CHURCH (ST NEOTS) TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2023
5.1 Disclosures
i) Staff costs - No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000.
ii) Related party transactions - The church paid £419 for Mr M Powers, the son of trustee Mr A Powers, for a part-time 4-week contract as church administrator to cover for the lead time of a new church administrator starting.
iii) Trustee donations - A total of £17,700 was donated by trustees in the year.
iii) Mr Mervyn Thomas is also a trustee of Kingdom Impact Grants which received payment of £240 for the provision of accounting software.
5.2 Trustees Salaries and Benefits
Mr Ian Hoile, a Trustee received remuneration as the Lead Elder of the Church. This is in accordance with Charity Commission guidelines for churches where the expectation is that the church leader will also be on the board of Trustees. As the church leader Ian was paid a salary of £48,972 with a pension of £4,908 , only reimbursement for expenses incurred on church business was received. No payment was made for Ian’s role as a Trustee.
No other Trustees were in receipt of salary or received expenses in connection with trustees duties.
5.3 Average headcount in the year
Charitable Activities 2023 2022 Number of equivalent full-time posts 3 3
5.4 Auditors/Independent examiners remuneration
The independent examiner’s remuneration amounts to a fee of £726 (2022- £720). No other services were provided.
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OPEN DOOR CHURCH (ST NEOTS) TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2023
5.5 Tangible Fixed Assets
Cost or valuation
| Tangible Fixed Assets Cost or valuation |
|
|---|---|
| Equipment | |
| £ | |
| Brought Forward - |
|
| Additions in the year at cost 3,884 |
|
| Carried Forward 3,884 |
|
| Depreciation | |
| Brought Forward - |
|
| Depreciation in the year - |
|
| Carried Forward - |
|
| Net Book Value | |
| Net Book Value at March 2022 - |
|
| Net Book Value at March 2023 3,884 |
Additions were purchased very close to year end so no depreciation has been applied for this financial year.
6 DEBTORS AND PREPAYMENTS
| 6 | DEBTORS AND PREPAYMENTS | ||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Gift Aid Receivable | 6,881 | 3,051 |
|
| Total Debtors | 6,881 | 3,051 | |
| Prepaid Office rent and services | 4,760 | 2,003 |
|
| Total Prepaid | 4,760 | 2,003 |
|
| 7 | CREDITORS | ||
| Amounts falling due within 1 year | 2023 | 2022 | |
| £ | £ | ||
| Other Accruals | (1,606) | (1,113) |
|
| PAYE Accruals | (2,969) | (2,859) |
|
| Total Short Term Liabilities | (4,575) | (3,972) |
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OPEN DOOR CHURCH (ST NEOTS) TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2023
8 LEASE OBLIGATIONS
The Church leases Offices and premises for midweek premises from D.Davey & Sons Ltd. payable of £ 18,000 per annum. The lease is until October 2023.
The Church leases photocopying equipment at £1,244 per annum until January 2027.
Total future minimum lease payments under non-cancellable operating leases are as follows:
| 2023 | 2022 | ||
| Later than one and not later than five years | 13,665 | 34,512 | |
| Later than five years | - | - | |
| 13,665 | 34,512 |
9 CHARITY FUNDS
9.1 Details of All Funds with movements during the CURRENT reporting period 2023
| Opening | Closing | ||||||
|---|---|---|---|---|---|---|---|
| Fund | Balance | Income | Expenditure | Transfers | Balance | ||
| General Church | 66,117 | 196,626 |
(192,741) |
- |
70,002 | ||
| Unrestricted Funds Total | 66,117 | 196,626 | (192,741) | - | 70,002 | ||
| Special Collection | - | 0 |
- |
- | |||
| Building Fund | 423,905 | 8,757 |
0 |
- |
432,662 | ||
| Hardship | 4,441 | - |
(250) |
- |
4,191 | ||
| Giles Zimbabwe | 1,766 | 43,420 |
(42,860) |
- |
2,326 | ||
| Children Special | 305 | 26 |
11 |
- |
342 | ||
| Youth Special | 1,553 | 8,795 |
(3,324) |
- |
7,024 | ||
| Alpha | - | 869 | (869) |
- |
- | ||
| Community | - | 3,152 | (26) |
- |
3,126 | ||
| - | - | 0 |
- |
- | |||
| - | - | 0 |
- |
- | |||
| Restricted Funds Total | 431,970 | 65,019 | (47,318) | - | 449,671 | ||
| Total Funds | 498,087 | 261,645 | (240,059) | - | 519,673 |
9.2 Movement of funds during the CURRENT reporting period 2023
There were no transfers of funds during this period.
Open Door Church
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