2020-12-31-accounts

YEOVIL COMMUNITY CHURCH (CIO) FINANCIAL STATEMENTS

31 DECEMBER 2020

Charity Number 1170106 Company Number CE008148

YEOVIL COMMUNITY CHURCH (CIO)

FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

CONTENTS	PAGE
Legal and administrative details	1
Trustees annual report	2 to 6
Independent Examiners report to the Trustees	7
Statement of Financial Activities	8
Statement of Financial Position	9
Statement of Cash Flows	10
Notes to the financial statements	11 to 23

YEOVIL COMMUNITY CHURCH (CIO)

REFERENCE AND ADMINISTRATIVE DETAILS

YEAR ENDED 31 DECEMBER 2020

Trustees

M Nichols K Hibbert N Rees (Resigned 9 November 2020) I Bramley (Resigned 6 July 2021) R Brazier (Chairman) L Karamura SJ Roughsedge K Foy A Smith S Collins (appointed 2 November 2020) R Hoyles (appointed 19 April 2021)

Senior management personnel

Adam Dyer Rachel Dyer Joseph Hardy Jon Pocock

Charity registration number Company number Charity Address

1170106 CE008148

The GateWay Addlewell Lane Yeovil Somerset BA20 1QN

Bankers

National Westminster Bank Plc 2 Hendford Yeovil Somerset BA20 1TN

Independent Examiner

S M Bachrach Chalmers & Co (SW) Limited Chartered Accountants 6 The Linen Yard South Street Crewkerne Somerset TA18 8AB

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YEOVIL COMMUNITY CHURCH (CIO)

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 DECEMBER 2020

The Trustees have pleasure in presenting their report and the financial statements of the Charity for the year ended 31 December 2020 as set out on pages 8 to 23. The financial statements have been prepared in accordance with the accounting policies set out on pages 11 to 13 and comply with applicable law.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Yeovil Community Church was registered as a charitable incorporated organisation and is governed by its document dated 10 November 2016, The registered company number is CE008148. It is also a registered charity with the registered charity number of 1170106.

Yeovil Community Church Trust (charity number 1039903) instructed solicitors to transfer its activities and assets to the CIO on 1 July 20217. This year it was decided by the Trustees of the Trust that this charity would be dissolved. Whilst reviewing the Trust, it was discovered that the land registry paperwork had not been completed in full. This is being treated with urgency and as a matter of priority in partnership with the solicitors who were originally instructed. The legal transfer of the activities and assets to the CIO occurred at 1 July 2017

Reference and administrative details including the principle office address and details of trustees who served the charity during the period and up to the date of signing are shown on page 1 of the financial statements.

Trustees are appointed in accordance with the Governing document. Formal trustee training is provided on an ad hoc basis as required. All strategic decisions are taken by the trustees in partnership with the ‘Strategic Team’ which includes staff members, but day-to-day operating decisions relating to ‘The GateWay’ building and the coffee shop are delegated to staff.

The personnel committee proposes all staff salaries to the full Trustee board for approval. Where applicable, staff salaries are compared to industry average, but this is not always possible due to the role. All staff are considered equally and without prejudice or bias. Any Trustee with a conflict of interest will be excluded for these decisions.

The Trustees continue to review the major risks to which the charity is exposed, covering all identified, relevant areas including financial risk and risks associated with personnel. Risks have been identified, assessed and safeguards have been put in place to eliminate or mitigate such risks as far as is reasonably possible.

OBJECTIVES AND ACTIVITIES

The main charitable objects of the CIO are:

• To advance the Christian religion and in particular to support the work of Yeovil Community Church (‘the Church’) in its various facets both in and around the area of Yeovil, Somerset and such other areas as may be deemed appropriate from time to time including overseas.

• To advance the Christian religion in any part of the world.

• To advance religious education in accordance with the doctrines and principles of the Christian faith both to adults and children irrespective of race, sex, creed or colour.

• To apply the income of the Charity in maintaining the up-keep and repair of the fabric of any buildings utilised by or in conjunction with Yeovil Community Church and the maintenance of the services in any such building or buildings.

• Charitable purposes for the general benefit of the inhabitants for the town of Yeovil, Somerset or for such other areas in which Yeovil Community Church may work from time to time as the Trustees may think fit.

The Church is a body of Christian believers that have been active in Yeovil since 1907. For many years the main focus of the Church’s activity was centred on Preston Chapel, and the group operated with charitable status through that building’s trust deed under the Places of Worship Act.

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YEOVIL COMMUNITY CHURCH (CIO)

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 DECEMBER 2020

With a growth in numbers, this building became inadequate and the body of believers worshipped in a local school hall, although the chapel building remained in use for various church and community activities, as well as serving as the Church’s administrative centre. It became evident that the continued growth in numbers would require a significantly larger permanent building, and in 1994 the Church began fundraising with a view to acquiring such a building for use by the Church and local community. In 1999 a property was acquired and work started on a complete refurbishment of this building. This work was completed in early 2001 and ‘The GateWay’ building was officially opened on 3 March 2001.

The objects of the Charity are now implemented in a range of activities. These include;

• Sunday morning services – services are run weekly throughout the year to encourage worship, prayer and teaching. This included the provision of online streaming to reach a wider audience and to ensure the services are accessible to everyone.

• Coffee shop – our coffee shop has been closed to the public for a large period of this financial year but we have been providing services to the NHS which have been using the Gateway as a vaccination centre.

• Youth Groups and Children’s work – during large parts of this financial year, these services have been moved online, but the provision of mentoring, youth groups, children’s teaching material and community connection has been provided throughout the year.

• Create – every year, volunteers form a Create team who provide worship material, youth and children’s work, mentoring and media material among other things. This team participates actively in the Church community as well as in the general community.

• Yeovil 4 Family (Y4F) – this part of our organisation is continually expanding. It runs programmes to offer support for families both locally and nationally. We believe this is fundamentally important for local and national community.

When planning the activities for the period, the Trustees have considered the Charity Commission’s general guidance on public benefit and, in particular, the specific guidance for charities for the advancement of religion. The Trustees believe the activities set out above and further described below under ‘achievements and performance’ clearly demonstrate the charity’s commitment to providing an identifiable public benefit and that access to this benefit is not restricted in any way.

The Charity heavily relies on the contribution of volunteers. The Trustees would like to say a massive thank you to all the volunteers who contribute to the Charity activities. Whilst it has not been measured in hours, the work that is carried out by the volunteers from the Sunday morning production team, to those helping with reception, and those who offer to bring an elderly member to our services, is priceless. We cannot thank you enough.

The Charity continues to make gifts to individuals and organisations both in the UK and overseas in line with its objects. Gifts are made on an ad hoc basis, according to need, subject to the availability of funds, and after careful consideration by the Trustees in committee.

ACHIEVEMENTS AND PERFORMANCE

The Charity has continued to focus on work in pursuance of its charitable objectives. These are;

• Becoming a community where Jesus is wholeheartedly worshipped, deeply experienced and clearly known;

• Praying and creating space for renewal in ourselves and our communities;

• Seeing the tide of relational breakdown turned wherever we serve;

• Resourcing the wider church to bring about Kingdom Transformation

• Living generously, challenging the cultures and systems that create injustice, and actively loving those affected.

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YEOVIL COMMUNITY CHURCH (CIO)

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 DECEMBER 2020

During this financial year, the pandemic has played a significant role in our ability to achieve objectives. In March 2020, the Charity had to make significant operational changes. Whilst these were challenging times, we believe that there were many positives during this time and we have noted several achievements and key performance indicators below;

• Sunday morning services were moved to an online platform. We developed our online presence and established new members of our community from inside and outside of Yeovil.

• • Y4F continued to serve the families in the community and provide a full service to the vulnerable members of our community.

• The Coffee Shop changed its purpose to deliver refreshments to the NHS whilst the building was being used as a vaccination centre.

• Youth work and children’s work continued and was delivered online. Young people had access to mentors and community whilst many were feeling isolated and lonely.

• Prayer slots were established in the morning and at lunch time on weekdays for the community to come together and pray for our local community as well as our national and international relations.

• Poppins, a group for small children, moved to presenting online videos for families to watch at home and when restrictions allowed, continued to support and provide space for families.

• Small groups continued to meet online during the pandemic and provide support and community to each other during a difficult year for many. These groups allow people to share life experiences, develop faith and offer support.

• The Trustees have formed an environmental working group who continually assess our environmental impact as an organisation and propose innovative ways to ensure we are helping to reduce our carbon footprint.

Whilst fundraising events are usually held on an ad-hoc basis, the pandemic reduced out fundraising to a minimum. During our Sunday morning services, we do encourage financial giving in the form of our offering. Some of these offerings have specific purposes ad this is openly communicated during the service.

FUTURE PLANS

Our online presence will continue moving forward. We believe that this has extended our reach into the community, nationally and internationally. There are many members who have joined us during the pandemic and we would like to continue our engagement with them. We will continue to develop these links and find new and innovative ways to communicate, support and encourage whilst through a screen.

Whilst the pandemic may have halted progress, we continue to be involved in conversations with regards to a collaborative plan to develop more community space, facilitate greater connection and wellbeing within the community and develop our work amongst the Homeless community. We also continue to look at the potential development of the building among other options that may be presented to us.

Y4F continues to expand and plays a pivotal role in our engagement with families in the community. We believe Y4F is a fundamental part of our strategic plan moving forward and we continue to support this work.

We are looking to release further resources from Yeovil Community Church including worship music. It is likely that music will be released in 2021 and we will encourage and support creative engagement from all members.

Whilst the pandemic had a significant impact operationally, we do not believe that the impact of the pandemic will continue in the foreseeable future operationally or financially, and we are able to continue with our activities in line with our objectives moving forward.

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YEOVIL COMMUNITY CHURCH (CIO)

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 DECEMBER 2020

FINANCIAL REVIEW

We do not believe that the pandemic has had a significant effect on the financial performance during this financial year.

The principle funding of the charity is through government grants.

Total income amounts to £916,870, as disclosed further in note 1. Total expenditure amounts to £644,460, as disclosed further in note 2.

Cash at bank and in hand at the year-end was £344,854. There were free reserves of £24,349 at 31 December 2020.

The total amount of funds held is £1,262,081. Of these funds, £332,956 are restricted and £929,125 are unrestricted. Of these unrestricted funds, £850,092 are designated. These designated funds represent the net book value of the freehold property.

The principle risks of the charity include;

• Liquidity risk – there is a risk that not enough money is being received to cover the expenditure or that the timing of the incoming funds is too late for the expenditure. For 2020, the finance team and staff completed a budget to outline all expected income and all anticipated expenditure. We intentionally removed any income that was not guaranteed or highly anticipated and included all expenditure that was needed and wanted for additional projects. All appropriate staff agreed on their proposed budget and any further expenditure had to be agreed by the finance committee or full Trustee board dependent on the amount.

• Reputational risk – a significant amount of our income is reliant on members of the public willingly giving their money. If we suffer a reputational issue, our funding is likely to be impacted. To mitigate this risk, we continually review our procedures for safeguarding and other high risk areas. We ensure our staff and volunteers have DBS clearance, where required, and are appropriately trained for their role.

• Incoming resources – the Trustees recognise that some of our project, particularly Y4F, are heavily reliant on funding from external organisations. There is a risk that the funding ceases and the project can no longer continue or that the funding requirements are not met in terms of timing. To mitigate this risk, we have ensured that all contracts are legally binding and signed by the appropriate people. We are also reviewing our reserves policy as detailed below.

RESERVES POLICY

During 2021, a risk assessment was carried out by the finance committee. It was established that the reserves were adequate but cash held did not reflect desired levels. This is being treated as a priority for the finance committee to review and strategically plan to enable the charity to build a cash reserve that is adequate to complete at least one month of liabilities initially .

A reserves policy has been established and approved by the Trustees to develop the cash and reserves to cover three months of liabilities.

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YEOVIL COMMUNITY CHURCH (CIO)

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 DECEMBER 2020

TRUSTEES' RESPONSIBILITIES

A charity's trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

INDEPENDENT EXAMINER

A resolution to re-appoint Simon Bachrach of Chalmers & Co (SW) Limited as independent examiner for the ensuing year will be proposed at the annual general meeting.

Signed by order of the trustees

Chairman

Approved by the trustees on 29[th] October 2021.

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YEOVIL COMMUNITY CHURCH (CIO)

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF YEOVIL COMMUNITY CHURCH (CIO) FOR THE YEAR ENDED 31 DECEMBER 2020 CHARITY NO 1170106

I report to the trustees on my examination of the accounts of Yeovil Community Church (CIO) for the year ended 31 December 2020 which are set out on pages 8 to 23.

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 Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of ICAEW.

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

• the accounting records were not kept in accordance with section 130 of the Charities Act; or

• the accounts did not accord with the accounting records; or

• the accounts did 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 the report in order to enable a proper understanding of the accounts to be reached.

Simon Bachrach FCA

CHALMERS & CO (SW) LIMITED Chartered accountants Trading as Chalmers & Co. 6 The Linen Yard South Street Crewkerne Somerset TA18 8AB

Date: 29 October 2021

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YEOVIL COMMUNITY CHURCH TRUST (CIO)

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING THE INCOME AND EXPENDITURE ACCOUNT

YEAR ENDED 31 DECEMBER 2020

		Unrestricted		Restricted
		General	Designated	Other	Total Funds	Total Funds
		Funds	Funds	Funds	2020	2019
	Note
		£	£	£	£	£
Income and endowments
Donations and legacies	1a	283,729	-	511,666	795,395	396,020
Income from charitable
activities	1b	121,393	-	-	121,393	154,769
Investment income	1c	82	-	-	82	-
		----------------------------------------	----------------------------------------	----------------------------------------	----------------------------------------	-----------------------------------------------
Total income		405,204	-	511,666	916,870	550,789
		----------------------------------------	----------------------------------------	----------------------------------------	----------------------------------------	----------------------------------------------
Expenditure
Expenditure on
charitable activities	2	391,474	7,528	245,458	644,460	577,385
		----------------------------------------	----------------------------------------	----------------------------------------	----------------------------------------	-----------------------------------------------
Total expenditure		391,474	7,528	245,458	644,460	577,385
		----------------------------------------	----------------------------------------	----------------------------------------	----------------------------------------	----------------------------------------------
Net income/(expenditure)
before transfers		13,730	(7,528)	266,208	272,410	(26,596)
Transfer between funds	10	48,849	(17,695)	(31,154)	-	-
		----------------------------------------	----------------------------------------	----------------------------------------	----------------------------------------	----------------------------------------
Net movement in funds		62,579	(25,223)	235,054	272,410	(26,596)
Total funds brought forward		16,454	875,315	97,902	989,671	1,016,267
		----------------------------------------	----------------------------------------	----------------------------------------	-----------------------------------------------	-----------------------------------------------
Total funds carried
forward	12	79,033	850,092	332,956	1,262,081	989,671
		========================================	========================================	========================================	==============================================	==============================================

The results for the year derive from continuing activities There are no gains or losses other than those shown above.

The notes on pages 11 to 23 form part of these financial statements.

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YEOVIL COMMUNITY CHURCH TRUST (CIO)

STATEMENT OF FINANCIAL POSITION

YEAR ENDED 31 DECEMBER 2020

	Note		2020		2019
		£	£	£	£
FIXED ASSETS
Tangible assets	5		918,147		897,770
CURRENT ASSETS
Stocks	6	250		954
Debtors	7	23,768		10,984
Cash at bank and in hand		344,854		107,699
		--------------------------------------		--------------------------------------
		368,872		119,637
CREDITORS: Amounts falling due within one
year	8	24,938		27,736
		--------------------------------------		--------------------------------------
NET CURRENT ASSETS
			343,934		91,901
			----------------------------------------------		----------------------------------------------
TOTAL ASSETS LESS CURRENT LIABILITIES			1,262,081		989,671
			----------------------------------------------		----------------------------------------------
CREDITORS: Amounts falling due after one year			-		-
			----------------------------------------------		----------------------------------------------
NET ASSETS			1,262,081		989,671
			==============================================		==============================================
FUNDS
Unrestricted	12		79,033		16,454
Designated	12		850,092		875,315
Restricted	12		332,956		97,902
			----------------------------------------------		----------------------------------------------
TOTAL FUNDS			1,262,081		989,671
			==============================================		==============================================

These financial statements were approved by the board of Trustees on the 29[th] October 2021, and signed on their behalf by:

R Brazier Chairman S Collins Treasurer

The notes on pages 11 to 23 form part of these financial statements.

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YEOVIL COMMUNITY CHURCH TRUST (CIO)

STATEMENT OF CASH FLOWS

YEAR ENDED 31 DECEMBER 2020

	Note		2020	2019
			£	£
**Cash flows from operating activities **
Net cash provided by/ (used in)
operating activities		13	292,161	2,193
			----------------------------------------------	----------------------------------------------
Cash flows from investing
activities:
Interest			82	-
Proceeds from sale of property, plant
and equipment			-	-
Purchase of property, plant and
equipment			(55,088)	(3,268)
Proceeds from sale of investments			-	-
Purchase of investments			-	-
Net cash provided by/(used in)
investing activities			(55,006)	(3,268)
			----------------------------------------------	----------------------------------------------
Change in cash and cash
equivalents in the reporting
period			237,155	(1,075)
Cash and cash equivalents at
the of the beginning of the
year			107,699	108,774
Cash and cash equivalents
at the end of the year			344,854	107,699
			==============================================	==============================================

The notes on pages 11 to 23 form part of these financial statements.

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YEOVIL COMMUNITY CHURCH (CIO)

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

1. General information

The charity is registered charity in England and Wales. The address of the principal office is The Gateway, Addlewell Lane, Yeovil, Somerset BA20 1QN

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011 and UK generally Accepted Practice as it applies from 1 January 2015.

These financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) regulations 2008 only to the extent required to provide a ‘true and fair’ view. This departure has involved following 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 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

3. Accounting policies

Grants

Grant income is recognised on a receivable basis. Where a restriction is placed on the use of the grant, the amount of the grant is included in restricted funds. Grant expenditure is recognised on a payable basis.

Basis of preparation

The financial statements have been prepared on the historical cost basis.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

The trustees do not believe that the impact of the COVID-19 virus will have a material adverse effect on the charity's financial condition or liquidity.

Value Added Tax

The Charity registered for VAT on 1 November 2012. This only affects the Coffee Shop and Y4F income and expenses. Some expenses in the SOFA are shown net of Input Vat and any irrecoverable vat is shown as a separate item of expenditure.

Judgements and key sources of uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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YEOVIL COMMUNITY CHURCH (CIO)

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

Tangible fixed assets

All fixed assets are initially recorded at cost and are stated at historic cost less depreciation. Assets costing less than £100 are written off in the year of acquisition. Depreciation is provided on all tangible fixed assets other than freehold land at rates calculated to write each asset down to its estimated residual value over its expected useful life, as follows:-

Freehold property over 50 years Equipment & machinery 25% per annum on written down value Y4Fequipment over 3 years Motor vehicles over 4 years

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Income

Grants and donations are recognised as income in the period in which they are received.

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. Unrestricted incoming resources received in respect of future periods are deferred to that period. The following specific policies are applied to particular categories of income:

Voluntary income is received by way of gifts and donations and is included in full in the Statement of Financial Activities when receivable.

Income from legacies is recognised at the point when it is received and is certain.

Incoming resources from tax reclaims are included in the Statement of Financial Activities at the same time as the gift to which they relate.

Activities for generating funds include resources generated by trading activities which are specifically to raise funds for the charity such as fundraising events.

Investment income includes bank interest and is included when receivable.

Incoming resources from charitable activities includes resources arising from activities in furtherance of charitable objects, including the coffee shop income.

Other incoming resources include all income which cannot be allocated directly to the other income categories.

Gifts in kind are included in the accounts at the market value at the date they were gifted.

Government Grants

Government grant income is recognised on a receivable basis. Where a restriction is placed on the use of the grant, the amount of the grant is included in restricted funds. Grants that are receivable as compensation for expenses or losses already incurred or for purposes of giving immediate financial support to entity with no future related costs are recognised in income in the period in which it became receivable.

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YEOVIL COMMUNITY CHURCH (CIO)

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

Expenditure

Expenditure is recognised on an accruals basis when there is a legal or constructive obligation committing the charity to the expenditure. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

• expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Charitable activities include resources applied by the charity in undertaking work to meet the charitable objectives. This includes the costs incurred in generating the income under ‘income from charitable activities’.

Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include the preparation and examination of statutory accounts and legal advice to trustees on governance or constitutional matters.

Pension costs

The company operates a defined contribution pension scheme for certain employees. The assets of the scheme are held separately from those of the company in an independently administered fund. Pension costs are charged to the Statement of Financial Activities as incurred, and represent contributions payable by the company.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against income on a straight-line basis over the period of the lease.

Fund Accounting

Unrestricted Funds

General accumulated unrestricted funds represent the funds of the church that are not subject to any restrictions regarding their use and may be applied in achieving any of the objectives of the charity as decided by the trustees.

Designated Funds

Funds designated for a particular purpose by the church are also unrestricted but shown as a separate fund category. Amounts are transferred to a designated fund when the restriction placed upon the incoming resource has been realised but the trustees wish to be able to separately identify these assets.

Restricted Funds

These relate to incoming resources which have been received subject to specific conditions imposed by the donor and binding on the Trustees and may only be applied in accordance with the restrictions placed on the donation. Upon realisation of the aims of the restricted funds, assets of such funds are transferred to unrestricted or designated funds as appropriate.

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YEOVIL COMMUNITY CHURCH (CIO)

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

	Unrestricted	Unrestricted		Restricted
	General		Designated	Other	Total Funds	Total Funds
		Funds	Funds	Funds	2020	2019
	INCOME	£	£	£	£	£
1a	Donations and legacies
	Worship
	Gifts & Offerings	9,576	-	-	9,576	32,587
	Direct Credits	194,045	-	-	194,045	156,408
	Income Tax Recoverable	39,449	-	-	39,449	30,207
	Other Donations	1,020	-	2,520	3,540	14,248
		------------------------------------	------------------------------------	------------------------------------	------------------------------------	------------------------------------
		244,090	-	2,520	246,610	233,450
	Job Retention Scheme	29,639	-	-	29,639	-
	Other Grants	10,000	-	60,642	70,642	-
	Coffee Shop Charity Day	-	-	878	878	4,119
	Y4F Income	-	-	447,626	447,626	158,451
		------------------------------------	------------------------------------	------------------------------------	------------------------------------	------------------------------------
	Total donations and
	legacies	283,729	-	511,666	795,395	396,020
		=================================	=================================	==================================	================================	================================
1b	Income from charitable activities
	Coffee Shop Activities
	Coffee Shop Sales	37,269	-	-	37,269	80,388
	Other Income	-	-	-	-	100
		------------------------------------	------------------------------------	------------------------------------	------------------------------------	------------------------------------
		37,269	-	-	37,269	80,488
		=================================	=================================	==================================	=================================	=================================
	Activities within Church Family
	Create	6,745	-	-	6,745	11,613
	Create (Job retention scheme)	2,229	-	-	2,229	-
	Youthwork	1,210	-	-	1,210	3,089
	Youth Trips	677	-	-	677	6,852
	Tuck Shop	313	-	-	313	1,044
	Poppins	806	-	-	806	2,918
	Young at Heart	75	-	-	75	220
	Other Trips & Events	-	-	-	-	30
		------------------------------------	------------------------------------	------------------------------------	------------------------------------	------------------------------------
		12,055	-	-	12,055	25,766
		=================================	=================================	==================================	=================================	=================================
	Other Activities
	Refreshment income	570	-	-	570	1,525
	GateWay Room Hire	21,900	-	-	21,900	21,486
	Y4F Office Services	39,273	-	-	39,273	20,263
	Other income	10,326	-	-	10,326	5,241
		------------------------------------	------------------------------------	------------------------------------	------------------------------------	------------------------------------
		72,069	-	-	72,069	48,515
	Total income from
	charitable activities	121,393	-	-	121,393	154,769
		=================================	=================================	==================================	================================	================================

- 14 -

YEOVIL COMMUNITY CHURCH (CIO)

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

1c	Investment Income
	Interest Receivable	82	-	-	82	-
		=================================	===============================	===============================	==================================	==================================
	TOTAL INCOME	405,204	-	511,666	916,870	550,789
		=================================	==================================	==================================	==================================	==================================

Included within income was a total of £41,868 received in the form of Government Grants in respect of the COVID 19 Business Support Grant and CJRS Grants.

2 EXPENDITURE

EXPENDITURE
	Unrestricted			Restricted
	General	Designated		Other	Total Funds	Total Funds
	Funds	Funds		Funds	2020	2019
	£	£		£	£	£
EXPENDITURE ON
CHARITABLE ACTIVITIES
Coffee Shop Costs (note 3)
Cost of Sales	12,033		-	-	12,033	25,468
Staff Costs	57,032		-	-	57,032	59,595
Other Costs	2,654		-	-	2,654	5,586
Donations to other
charities	-		-	878	878	4,119
	------------------------------------	------------------------------		------------------------------	------------------------------------	------------------------------------
	71,719		-	878	72,597	94,768
	=================================	===========================		============================	=================================	=================================
Worship Costs
Leadership Costs	68,890		-	6,748	75,638	78,029
Staff Costs	117,620		-	-	117,620	119,264
Training & Safeguarding	861		-	-	861	1,745
GateWay Building
Light, Heat & Power	12,999		-	-	12,999	16,165
Water Rates	1,546		-	-	1,546	2,311
Repairs & Maintenance	7,275		-	-	7,275	2,808
Premises Expenses	3,198		-	-	3,198	1,817
Equipment Hire &
Maintenance	4,364		-	-	4,364	5,056
Cleaning	4,602		-	-	4,602	6,242
Computer Software
Costs	7,284		-	-	7,284	6,559
Transport & Travel	2,316		-	-	2,316	4,227
Refreshments	1,555		-	-	1,555	4,781
Insurance	7,609		-	-	7,609	4,823
Telephone & Internet	4,221		-	-	4,221	3,483
Office Expenses	988		-	-	988	1,211
Advertising	67		-	-	67	279
Sundry Expenses	3,211		-	-	3,211	2,159
Professional Charges	1,764		-	-	1,764	2,129
Leaders Weekend	-		-	-	-	3,552
	------------------------------------	------------------------------		----------------------------	------------------------------------	------------------------------------
	250,370		-	6,748	257,118	266,640
	=================================	==========================		==========================	=================================	=================================

- 15 -

YEOVIL COMMUNITY CHURCH (CIO)

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

	Unrestricted		Restricted
	General	Designated	Other	Total Funds	Total Funds
	Funds	Funds	Funds	2020	for 2019
	£	£	£	£	£
Activities within Church	Family
Tuck Shop	462	-	-	462	1,167
Youth Outreach Costs	2,685	-	-	2,685	2,827
Youth Trips & Events	496	-	-	496	6,111
Poppins Costs	1,343	-	-	1,343	1,795
Poppins Staff Costs	10,774	-	-	10,774	10,312
General Outreach &
Trips	7,794	-	-	7,794	9,381
Young at Heart	-	-	-	-	554
Overseas Grant & Travel	-	-	-	-	873
Y4F Costs	-	-	227,948	227,948	138,723
Create Costs	16,563	-	200	16,763	13,279
Create Staff Costs	5,204	-	-	5,204	5,171
	------------------------------------	------------------------------------	------------------------------------	------------------------------------	------------------------------------
	45,321	-	228,148	273,469	190,193
	=================================	=================================	==================================	=================================	=================================
Governance costs
Independent Examiners
Fee	2,250	-	-	2,250	2,000
Trustees Costs	-	-	-	-	-
	------------------------------------	------------------------------------	------------------------------------	------------------------------------	------------------------------------
	2,250	-	-	2,250	2,000
	=================================	===============================	================================	================================	================================
Other Activities
Printing	450	-	-	450	813
Bank Charges & Interest	865	-	-	865	685
Consultancy Fees	-	-	3,000	3,000	-
Depreciation	20,499	7,528	6,684	34,711	22,286
	------------------------------------	----------------------------------------	-----------------------------------	----------------------------------------------	----------------------------------------------
	21,814	7,528	9,684	39,026	23,784
	=================================	===================================	=================================	==============================================	==============================================
TOTAL EXPENDITURE
ON CHARITABLE
ACTIVITIES	391,474	7,528	245,458	644,460	577,385
	=================================	===================================	==================================	==============================================	==============================================

- 16 -

YEOVIL COMMUNITY CHURCH (CIO)

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

3. COFFEE SHOP	2020	2019
	£	£
Coffee shop sales	37,269	80,388
Cost of sales:
Opening stock	954	1,500
Purchase of food & consumables	11,329	24,922
Less: closing stock	(250)	(954)
	------------------------------------	------------------------------------
	12,033	25,468
	------------------------------------	------------------------------------
Gross Surplus	25,236	54,920
	------------------------------------	------------------------------------
Other income:
Job retention scheme grant	25,236	54,920
	------------------------------------	------------------------------------
Coffee shop costs:
Maintenance	959	2,241
Training & Safeguarding	117	674
Staff costs	57,032	59,595
Sundries & Stationery	194	232
Cleaning	399	930
Bank Charges	500	589
Professional Fees	485	920
	------------------------------------	------------------------------------
	59,686	65,181
	------------------------------------	------------------------------------
(Deficit) on coffee shop	(13,462)	(10,261)
	==================================	==================================

4. EMPLOYEES & LEADERSHIP SERVICES

The average weekly number of persons engaged by church was as follows:

		Employees	Employees
		2020		2019
	Full time Part time		Full time Part time
Leadership	2	2	1	4
Administration	2	3	2	4
Youth Workers	-	2	-	2
Coffee Shop	1	3	2	5
Yeovil 4 Families	2	8	-	9
	----------------	----------------	----------------	----------------
	7	18	5	24
	===============	===============	===============	===============

- 17 -

YEOVIL COMMUNITY CHURCH (CIO)

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

Total costs for the above persons:

	2020	2019
		£
	£
Wages & Salaries	402,437	346,799
Social Security costs	21,881	17,113
Pension contributions	14,124	12,408
	------------------------------------	------------------------------------
	438,442	376,320
	===============	===============

There were no charity employees with earnings in excess of £60,000.

The key management personnel of the charity comprise the trustees and the senior management personnel listed on page 1. The total remuneration of key management personnel during the year was £90,924.

5. TANGIBLE FIXED ASSETS

				Kitchen
	Freehold	Equipment		Equipment
	Land and	and	Motor	and
	Buildings	Machinery	Vehicles	Machinery	Total
	£	£	£	£	£
COST
Brought Forward	876,440	57,543	10,913	16,697	961,593
Additions	-	55,088	-	-	55,088
	----------------------------------------------	-------------------------------------	-------------------------------	-------------------------------	----------------------------------------------
At 31 December
2020	876,440	112,631	10,913	16,697	1,016,681
	========================================	====================================	==============================	==============================	========================================
DEPRECIATION
Brought Forward	18,820	29,676	6,820	8,507	63,823
Charge for the year	7,528	22,407	2,728	2,048	34,711
	-------------------------------------	-------------------------------------	--------------------------	-------------------------------	------------------------------------
At 31 December
2020	26,348	52,083	9,548	10,555	98,534
	====================================	====================================	==========================	==============================	====================================
NET BOOK VALUE
At 31 December
2020	850,092	60,548	1,365	6,142	918,147
	====================================	==================================	==================================	==========================	======================================
At 31 December
2019	857,620	27,867	4,093	8,190	897,770
	====================================	==================================	==================================	==========================	======================================

- 18 -

YEOVIL COMMUNITY CHURCH (CIO)

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

6. STOCKS

6.	STOCKS
		2020	2019
		£	£
	Coffee Shop Stock	250	954
		==========================	==========================
7.	DEBTORS
		2020	2019
		£	£
	Income tax recoverable	9,443	3,194
	Trade debtors	4,272	3,823
	Other debtors	4,000	109
	Prepayments	6,053	3,858
		-------------------------------	-------------------------------
		23,768	10,984
		============================	============================
8.	CREDITORS: Amounts falling due within one year
		2020	2019
		£	£
	Trade creditors	6,690	11,401
	PAYE and National Insurance	7,908	4,642
	VAT payable	1,669	4,413
	Other creditors	269	580
	Accruals	8,402	6,700
		------------	------------
		24,938	27,736
		=============================	=============================

9. CONNECTED CHARITIES AND RELATED PARTIES

Related Party Transactions

No remuneration or expenses have been paid to the trustees or connected persons during the period.

Joseph & Claire Hardy, a married couple, are both employed by the Charity on salaries commensurate with their positions. Claire is the daughter of a trustee. Joel Nichols, whose father is a trustee, sometimes provides services related to AV and sound engineering, to the Charity, at the current market value.

Yeovil Community Church Trust

The Trust is connected to the Yeovil Community Church Trust, which has Trustees and certain objects in common. The Trustees in common are as follows: K Hibbert, M Nichols and I Bramley

On 1 July 2017 Yeovil Community Church Trust transferred its activities, assets and liabilities to Yeovil Community Church (CIO) Charity No 1170106.

- 19 -

YEOVIL COMMUNITY CHURCH (CIO)

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

10. MOVEMENT ON FUNDS

		Transfer	Monies	Monies	Transfer	Balance
		from YCC	Received	Expended	between	C/fwd
		Trust			Funds
RESTRICTED FUNDS		£	£	£	£	£
Capital/Building Development		19,240	38,020	-	23,264	80,524
Fund
Create Restricted Fund		200	-	(200)	-	-
Charity Days		-	878	(878)	-	-
Covid Response Grant	Poppins	-	4,000	-	-	4,000
Griffiths Legacy	Overseas Mission	37,530	-	-	3,716	41,246
YDH Funding		-	8,061	(8,061)	-	-
COVID Support		-	11,394	-	(11,394)	-
		---------------	---------------	-----------------	-----------------	------------------
		56,970	62,353	(9,139)	15,586	125,770
RESTRICTED FUND Y4F
Raise your words Y4F	Writers Group	-	-	-	3,435	3,435
Homeless Support Fund Y4F		4,182	-	-	(4,182)	-
Small Support Funds Y4F			-	(506)	4,837	4,331
Lottery Funding Homeless Project Y4F		15,412	30,930	(31,835)	-	14,507
Y4F Contingency Fund		-	-	-	15,876	15,876
Y4Families General		21,338	416,696	(202,291)	(66,706)	169,037
		---------------	---------------	-----------------	-----------------	------------------
		40,932	447,626	(234,632)	(46,740)	207,186
		---------------	---------------	-----------------	-----------------	------------------
TOTAL RESTRICTED FUNDS		97,902	509,979	(243,771)	(31,154)	332,956
DESIGNATED FUNDS
Sundries		1,569	-	-	(1,569)	-
Pool Table		148	-	-	(148)	-
Coffee Shop Tips		178	-	-	(178)	-
Tear Fund	Poppins Micro Grant	588	-	-	(588)	-
Overseas	A Partington	6,617	-	-	(6,617)	-
Youth Trips Fund		197	-	-	(197)	-
VAT		75	-	-	(75)	-
Social Action fund		3,027	-	-	(3,027)	-
Legacy Fund		5,296	-	-	(5,296)	-
		---------------	---------------	-----------------	-----------------	------------------
		17,695	-	-	(17,695)	-
UNRESTRICTED FUNDS
General fund		16,454	406,891	(393,161)	48,849	79,033
Designated building fund		857,620	-	(7,528)	-	850,092
		-------------------	----------------	-------------------	------------------	------------------
		989,671	916,870	(644,460)	-	1,262,081
		=============	==========	=============	============	============

DESIGNATED FUNDS

Since the year end the Trustees have reviewed the designated funds and reassigned all but the building fund to general unrestricted funds.

- 20 -

YEOVIL COMMUNITY CHURCH (CIO)

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

10. MOVEMENT ON FUNDS continued……

RESTRICTED FUNDS

Restricted Funds are treated as explained in the Accounting Policies on page 13. Significant funds in the period are:

The Griffiths Legacy of which a balance of £41,246 is restricted on spending for Overseas Mission.

The Capital/Building Development Fund of which a balance of £80,524 is restricted on spending for the development of the building.

The Y4F Funds totalling £191,310 are represented in more detail within note 11. There is also a Y4F Contingency Fund with a balance of £15,876.

11. Y4 FAMILIES ACTIVITIES (RESTRICTED)

4 FAMILIES ACTIVITIES (RESTRICTED)
	2020	2019
	£	£
Grant Funding	130,893	109,624
Government Grant Funding	281,000	-
Replication of Families Project Income	-	767
Lottery Fund – Homeless income	30,768	35,503
Homeless/Singles Project income	-	6,400
Other Donations	4,965	6,157
	------------------------------------	------------------------------------
	447,626	158,451
Expenditure
Office services	39,273	20,263
Replication of Families Project Costs	-	6,460
Mobile phones	1,620	1,438
Training & safeguarding	2,114	553
Wages & salaries (Exc. replication wages)	172,173	97,655
Sundry	9,805	7,206
Travel	2,963	5,148
Depreciation	6,684	-
	------------------------------------	------------------------------------
	234,632	138,723
	------------------------------------	------------------------------------
Net Incoming Resources	212,994	19,728
Transfer of funds from Winter Shelter Project	-	910
Transfer (to)/from General/Designated Funds	3,260	(1,189)
Transfer to Y4F Contingency Fund	(15,876)
Transfer to Building Development Fund	(50,000)	-
Fund balances brought forward	40,932	21,483
	------------------------------------	------------------------------------
Fund balances carried forward	191,310	40,932
	====================================	====================================

- 21 -

YEOVIL COMMUNITY CHURCH (CIO)

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

12. ANALYSIS OF NET ASSETS BY FUND

	Unrestricted		Restricted
	General	Designated	Other	Total
	Funds	Funds	Funds	Funds
	£	£	£	£
Tangible Fixed Assets	54,684	850,092	13,371	918,147
	-------------------------------	----------------------------------------	----------------------------------------	----------------------------------------
Current Assets:
Cash at bank and building society	25,269	-	319,585	344,854
Stock	250	-	-	250
Income tax recoverable	9,443	-	-	9,443
Trade debtors	4,272	-	-	4,272
Other debtors	4,000	-	-	4,000
Prepayments	6,053	-	-	6,053
	-------------------------------	----------------------------------------	----------------------------------------	----------------------------------------
	49,287	-	319,585	368,872
	===========================	===================================	====================================	=====================================
Creditors: Amounts falling due within	one year
Trade Creditors	6,690	-	-	6,690
PAYE & National Insurance	7,908	-	-	7,908
Accruals	8,402	-	-	8,402
Other Creditors	269	-	-	269
VAT Liability	1,669	-	-	1,669
	-------------------------------	----------------------------------------	--------------------------	----------------------------------------
	24,938	-	-	24,938
	===========================	===================================	=======================	=====================================
Net current assets/(liabilities)	24,349	-	319,585	343,934
	============================	====================================	====================================	==================================
Total assets less current liabilities	79,033	850,092	332,956	1,262,081
	============================	=====================================	=====================================	=======================================
	---------------------------------	-----------------------------------------	------------------------------------------	--------------------------------------------
FUND BALANCES	79,033	850,092	332,956	1,262,081
	============================	======================================	====================================	=======================================

- 22 -

YEOVIL COMMUNITY CHURCH (CIO)

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

13. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVTIES

	2020	2019
	£	£
Net income/(expenditure) for the
year (as per the statement of
financial activities)	272,410	(26,596)
Adjustments for:
Depreciation charges	34,711	22,286
Interest	(82)	-
(Increase)/decrease in stocks	704	546
(Increase)/decrease in debtors	(12,784)	2,131
Increase in/(decrease) in creditors	(2,798)	3,826
	----- -----------------------------------	-------------------------------------
Net cash provided by/(used in) operating
activities	292,161	2,193
	======= ============================	=================================

- 23 -