OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-12-31-accounts

Charity registration number: 1170106

Yeovil Community Church

Annual Report and Financial Statements

for the Year Ended 31 December 2022

Yeovil Community Church

Contents (continued)

Reference and Administrative Details 1
Trustees' Report 2 to 7
Independent Auditors' Report 8 to 10
Statement of Financial Activities 11
Balance Sheet 12
Cash Flow Statement 13
Notes to the Financial Statements 14 to 29

Yeovil Community Church

Reference and Administrative Details

R D Brazier

Chairman Trustees

Trustees K G Foy S J Roughsedge R Hoyles K Hibbert M J M Nichols S J P Collins A Smith L N Karamura, resigned 19 June 2022 H Day, appointed 17 October 2022 V Bastable, appointed 17 October 2022 Senior Management Team J Pocock J Hardy A Dyer R Dyer L Collins Charity Registration Number 1170106 Principal Office The GateWay Addlewell Lane Yeovil Somerset BA20 1QN Independent Examiner Milsted Langdon LLP Motivo House Alvington Yeovil Somerset BA20 2FG Bankers National Westminster Bank Plc 2 Hendford Yeovil Somerset BA20 1TN

Page 1

Yeovil Community Church

Trustees' Report

The trustees present the annual report together with the financial statements and auditors' report of the charity for the year ended 31 December 2022.

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) has been removed from the Charity register. This was confirmed by the Charity Commission on 30 March 2023.

Reference and administrative details including the principal 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.

Page 2

Yeovil Community Church

Trustees' Report (continued)

Objectives and activities

The main charitable objects of the CIO are:

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.

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;

Page 3

Yeovil Community Church

Trustees' Report (continued)

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;

The Charity achieved the following during the financial year;

• We continued to support the ongoing covid vaccination booster programme in early 2022 and the winter flu/covid vaccination programme.

• We developed our building to enable a permanent footprint for the Lords Larder and more office space for our Create team.

• We increased our provision for Roost to two sessions a week.

• We re-integrated Poppins back into the building for three sessions a week seeing numerical growth beyond pre-pandemic levels.

• We had seven interns in the Create team from September 2022 covering children’s work, youth work, AV and worship.

• We have seen growth in our Afghan Refugee Support programme.

• Y4F continued to flourish with 321 families supported in 2022 including 549 adults and 676 children.

• We continued to provide online services as well as face to face. The online content is being watched regularly on a weekly basis and we feel that our accessibility has increased with this new provision.

Fundraising events are held on an ad-hoc basis. During our Sunday morning services, we do encourage financial giving in the form of our offering. Some of these offerings have specific purposes and this is openly communicated during the service.

Page 4

Yeovil Community Church

Trustees' Report (continued)

Public benefit

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Financial review

The principal funding of the charity is through government grants.

Total income amounts to £1,077,050 (2021: £1,107,900) as disclosed further in notes 2-6. Total expenditure amounts to £1,100,964 (2021: £904,061) as disclosed further in notes 7-12.

Cash at bank and in hand at the year-end was £466,689 (2021: £511,791).

The total amount of funds held is £1,442,006. Of these funds, £480,688 (2021: £502,728) are restricted and £961,318 (2021: £963,192) are unrestricted. Of these unrestricted funds, £891,250 (2021: £842,564) are designated. These designated funds represent the net book value of the freehold property.

Policy on reserves

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

We are aware that our free reserves are in deficit at the end of the year ended 31 December 2022. We have money set aside in a contingency reserve that allows us to continue with our operations with the safe knowledge that we can operate for a further three months without further funding. In addition to this, we are committed to reviewing our income and expenditure relating to our free reserves and will endeavour to recover the deficit. We will make any decisions required to ensure that the charity is safely and responsibly acting in relation to its operations. Free reserves are in deficit by £16,325 (2021: Surplus of £40,809) at 31 December 2022.

Plans for future periods

Aims and key objectives for future periods

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 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.

Financial instruments

Objectives and policies

The charity’s activities expose it to a number of financial risks including liquidity risk, reputational risk and incoming resources. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.

Page 5

Yeovil Community Church

Trustees' Report (continued)

Incoming resources

The Trustees recognise that some of our projects, particularly Y4F, are heavily reliant on funding from external organisations. There is a risk that the funding ceases and the projects 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 above.

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.

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 2022, 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.

Page 6

Yeovil Community Church

Trustees' Report (continued)

Statement of Trustees' Responsibilities

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

The law applicable to charities 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:

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, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. 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.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Disclosure of information to auditor

Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

The annual report was approved by the trustees of the charity on 27 October 2023 and signed on its behalf by:

......................................... R D Brazier Chairman

......................................... S J P Collins Trustee

Page 7

Yeovil Community Church

Independent Auditor's Report to the Trustees of Yeovil Community Church

Opinion

We have audited the financial statements of Yeovil Community Church (the 'charity') for the year ended 31 December 2022, which comprise the Statement of Financial Activities, Balance Sheet, Cash Flow Statement, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Page 8

Yeovil Community Church

Independent Auditor's Report to the Trustees of Yeovil Community Church (continued)

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters where the Charities (Accounts and Report) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities (set out on page 7), the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor Responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Page 9

Yeovil Community Church

Independent Auditor's Report to the Trustees of Yeovil Community Church (continued)

However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity’s operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity trustees, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the trustees those matters we are required to state to trustees in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees as a body, for our audit work, for this report, or for the opinions we have formed.

......................................

Milsted Langdon LLP, Statutory Auditor Motivo House Alvington Yeovil Somerset BA20 2FG

31 October 2023

Milsted Langdon LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

Page 10

Yeovil Community Church

Statement of Financial Activities for the Year Ended 31 December 2022

Unrestricted Restricted Total Total
funds funds 2022 2021
Note £ £ £ £
Income and Endowments from:
Donations and legacies 2 250,179 15,042 265,221 251,884
Charitable activities 3 425,516 372,459 797,975 829,125
Other trading activities 4 5,006 5,770 10,776 -
Investment income 5 411 - 411 20
Government grants 6 2,667 - 2,667 26,871
Total income 683,779 393,271 1,077,050 1,107,900
Expenditure on:
Raising funds 7 (5,782) (6,312) (12,094) -
Charitable activities 8 (679,728) (409,142) (1,088,870) (904,061)
Total expenditure (685,510) (415,454) (1,100,964) (904,061)
Net (expenditure)/income (1,731) (22,183) (23,914) 203,839
Transfers between funds (143) 143 - -
Net movement in funds (1,874) (22,040) (23,914) 203,839
Reconciliation of funds
Total funds brought forward 963,192 502,728 1,465,920 1,262,081
Total funds carried forward 20 961,318 480,688 1,442,006 1,465,920

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2021 is shown in note 20.

The notes on pages 14 to 29 form an integral part of these financial statements. Page 11

Yeovil Community Church

(Registration number: 1170106) Balance Sheet as at 31 December 2022

2022 2021
Note £ £
Fixed assets
Tangible assets 13 977,643 929,069
Current assets
Stocks 14 500 500
Debtors 15 68,475 80,995
Cash at bank and in hand 16 466,689 511,791
535,664 593,286
Creditors: Amounts falling due within one year 17 (71,301) (56,435)
Net current assets 464,363 536,851
Net assets 1,442,006 1,465,920
Funds of the charity:
Restricted income funds
Restricted funds 20 480,688 502,728
Unrestricted income funds
Unrestricted funds 961,318 963,192
Total funds 20 1,442,006 1,465,920

The financial statements on pages 11 to 29 were approved by the trustees, and authorised for issue on 27 October 2023 and signed on their behalf by:

......................................... R D Brazier Chairman

......................................... S J P Collins Trustee

The notes on pages 14 to 29 form an integral part of these financial statements. Page 12

Yeovil Community Church

Cash Flow Statement for the Year Ended 31 December 2022

2022 2021
Note £ £
Cash flows from operating activities
Net cash (expenditure)/income (23,914) 203,839
Adjustments to cash flows from non-cash items
Depreciation 7 44,127 42,197
Investment income 5 (411) (20)
Profit/(loss) on disposal of tangible fixed assets 6,191 -
49,907 42,177
25,993 246,016
Working capital adjustments
Increase in stocks 14 - (250)
Decrease/(increase) in debtors 15 12,520 (57,227)
Increase in creditors 17 14,866 31,497
Net cash flows from operating activities 53,379 220,036
Cash flows from investing activities
Interest receivable and similar income 5 411 20
Purchase of tangible fixed assets 13 (99,145) (53,119)
Sale of tangible fixed assets 253 -
Net cash flows from investing activities (98,481) (53,099)
Net (decrease)/increase in cash and cash equivalents (45,102) 166,937
Cash and cash equivalents at 1 January 511,791 344,854
Cash and cash equivalents at 31 December 466,689 511,791

All of the cash flows are derived from continuing operations during the above two periods.

The notes on pages 14 to 29 form an integral part of these financial statements. Page 13

Yeovil Community Church

Notes to the Financial Statements for the Year Ended 31 December 2022

1 Accounting policies

Statement of compliance

The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Basis of preparation

Yeovil Community Church meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

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.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Donations and legacies

Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.

Gifts in kind

Gifts in kind are included in the accounts at the market value i.e the amount the charity would have paid at the date they were gifted.

Investment income

Investment income includes bank interest and is included when receivable.

Page 14

Yeovil Community Church

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

All resources expended are inclusive of irrecoverable VAT.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.

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.

Irrecoverable VAT

Irrecoverable VAT is charged against the category of resources expended for which it was incurred.

Page 15

Yeovil Community Church

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Depreciation method and rate
Freehold Land and Buildings over 50 years, land nil
Equipment, Kitchen equipment and Machinery 25% reducing balance and over 3
years
Motor vehicles over 4 years

Stock

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

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Page 16

Yeovil Community Church

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.

Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

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.

Pensions and other post retirement obligations

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.

Financial instruments

Recognition and measurement

The charity only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the charity and their measurement basis are as follows;

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank - is classified as a basic financial instrument and is measured at face value.

Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.

Page 17

Yeovil Community Church

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

2 Income from donations and legacies

Unrestricted
funds Restricted Total Total
General funds 2022 2021
£ £ £ £
Donations and legacies;
Worship 249,848 504 250,352 237,100
Y4F income 331 14,538 14,869 14,784
250,179 15,042 265,221 251,884

£250,179 (2021 - £237,100) of the income above was attributable to unrestricted funds and £15,042 (2021 - £14,784) attributable to restricted funds.

3 Income from charitable activities

Unrestricted
funds Restricted Total Total
General funds 2022 2021
£ £ £ £
Y4F income - 573,200 573,200 650,116
Coffee shop 60,533 - 60,533 38,945
Activities with Church family 17,414 101 17,515 12,540
Other activities 68,710 15,317 84,027 110,524
Other grants 62,700 - 62,700 17,000
Contributions to core funding 216,159 (216,159) - -
425,516 372,459 797,975 829,125

£425,516 (2021 - £258,865) of the income above was attributable to unrestricted funds and £372,459 (2021 - £570,260) attributable to restricted funds.

4 Income from other trading activities

Unrestricted
funds Restricted Total
General funds funds
£ £ £
Events income;
Other events income 5,006 5,770 10,776
5,006 5,770 10,776

Page 18

Yeovil Community Church

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

£5,006 (2021 - £Nil) of the income above was attributable to unrestricted funds and £5,770 (2021 - £Nil) attributable to restricted funds.

5 Investment income

Unrestricted
funds Total Total
General 2022 2021
£ £ £
Interest receivable and similar income;
Interest receivable 411 411 20

All of the income above was attributable to unrestricted funds in 2022 and 2021.

6 Government grants

Unrestricted
funds Total Total
General 2022 2021
£ £ £
CJRS furlough claims - - 8,197
Coronavirus business support grants 2,667 2,667 18,674
2,667 2,667 26,871

All of the income above was attributable to unrestricted funds in 2022 and 2021.

7 Expenditure on raising funds

a) Costs of generating donations and legacies

Unrestricted
funds Restricted Total Total
General funds 2022 2021
£ £ £ £
Marketing and publicity 5,782 6,312 12,094 -

£5,782 (2021 - £Nil) of the expenditure above was attributable to unrestricted funds and £6,312 (2021 - £Nil) attributable to restricted funds.

Page 19

Yeovil Community Church

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

8 Expenditure on charitable activities

**Unrestricted ** **Unrestricted ** **Unrestricted ** funds Restricted Total Total
Designated General funds 2022 2021
Note £ £ £ £ £
Worship - 36,682 5,157 41,839 283,838
Y4F costs - - 385,756 385,756 395,501
Operational
activities - 374,517 9,184 383,701 -
Coffee shop - 85,550 - 85,550 52,714
Activities with
Church family - 114,557 1,784 116,341 110,146
Allocated support
costs 9 8,674 46,819 7,261 62,754 48,840
Governance
costs 9 - 12,929 - 12,929 13,022
8,674 671,054 409,142 1,088,870 904,061

£676,728 (2021 - £488,789) of the expenditure above was attributable to unrestricted funds and £409,142 (2021 - £415,272) attributable to restricted funds.

9 Analysis of governance and support costs

Support costs

Support costs
**Unrestricted ** funds Restricted Total Total
Designated General funds 2022 2021
£ £ £ £ £
Depreciation, amortisation
and other similar costs 8,674 28,767 6,686 44,127 42,197
Loss on disposal of tangible
fixed assets - 6,191 - 6,191 -
Consultancy fees - 5,322 575 5,897 2,453
Other resources expended - 6,539 - 6,539 4,190
8,674 46,819 7,261 62,754 48,840

£55,493 (2021 - £41,030) of the expenditure above was attributable to unrestricted funds and £7,261 (2021 - £7,810) attributable to restricted funds.

Page 20

Yeovil Community Church

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

Governance costs

Unrestricted
funds Total Total
General 2022 2021
£ £ £
Audit fees
Audit of the financial statements 10,721 10,721 6,600
Other fees paid to auditors 2,700 2,700 2,340
Independent examiner fees
Examination of the financial statements (492) (492) 4,082
12,929 12,929 13,022

All of the expenditure above was attributable to unrestricted funds in 2022 and 2021.

10 Net incoming/outgoing resources

Net (outgoing)/incoming resources for the year include:

Net (outgoing)/incoming resources for the year include:
2022 2021
£ £
Operating leases - other assets 9,248 6,000
Audit fees 10,721 6,600
Other non-audit services 2,700 2,340
Independent examiner fees (492) -
Loss on disposal of tangible fixed assets 6,191 -
Depreciation of fixed assets 44,127 41,848

11 Trustees remuneration and expenses

During the year the charity made the following transactions with trustees:

K Hibbert

£70 (2021: £Nil) of expenses were reimbursed to K Hibbert during the year.

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year (2021: £nil).

No trustees have received any other benefits from the charity during the year.

Related party transactions are dislcosed in note 22.

Page 21

Yeovil Community Church

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

12 Staff costs

The aggregate payroll costs were as follows:

The aggregate payroll costs were as follows:
2022 2021
£ £
Staff costs during the year were:
Wages and salaries 641,320 558,503
Social security costs 46,667 34,553
Pension costs 23,353 21,550
711,340 614,606

The monthly average number of persons (including senior management team) employed by the charity during the year was as follows:

charity during the year was as follows:
2022 2021
No No
Leadership 5 5
Administration 6 4
Ministry 4 3
Coffee shop 7 7
Y4F 18 19
40 38

The full time equivalent number of staff for the same period was 27 (2021: 27).

No employee received emoluments of more than £60,000 during the year

The total employee benefits of the key management personnel of the charity were £170,616 (2021 - £145,547).

Page 22

Yeovil Community Church

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

13 Tangible fixed assets

13 Tangible fixed assets
Equipment,
kitchen
Freehold equipment
land and and Motor
buildings machinery vehicles Total
£ £ £ £
Cost
At 1 January 2022 876,440 182,447 10,913 1,069,800
Additions 57,360 41,785 - 99,145
Disposals - (19,999) - (19,999)
At 31 December 2022 933,800 204,233 10,913 1,148,946
Depreciation
At 1 January 2022 33,876 95,942 10,913 140,731
Charge for the year 8,674 35,453 - 44,127
Eliminated on disposals - (13,555) - (13,555)
At 31 December 2022 42,550 117,840 10,913 171,303
Net book value
At 31 December 2022 891,250 86,393 - 977,643
At 31 December 2021 842,564 86,505 - 929,069
14 Stock
2022 2021
£ £
Stocks 500 500
15 Debtors
2022 2021
£ £
Trade debtors 48,252 10,143
Prepayments 4,413 8,474
Accrued income - 22,537
VAT recoverable - 5,190
Other debtors 15,810 34,651
68,475 80,995

Page 23

Yeovil Community Church

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

16 Cash and cash equivalents

16 Cash and cash equivalents
2022 2021
£ £
Cash on hand 311 387
Cash at bank 466,378 511,404
466,689 511,791
17 Creditors: amounts falling due within one year
2022 2021
£ £
Trade creditors 15,922 12,811
Other taxation and social security 10,124 9,720
VAT payable 19,866 -
Other creditors 8,364 11,785
Accruals 17,025 22,119
71,301 56,435

18 Obligations under leases and hire purchase contracts

Operating lease commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2022 2021
£ £
Land and buildings
Within one year 12,000 6,000
Between one and five years 18,000 -
30,000 6,000
There is the option of a break clause each year.

19 Pension and other schemes

Defined contribution pension scheme

The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £23,353 (2021 - £21,550).

Contributions totalling £8,364 (2021 - £11,785) were payable to the scheme at the end of the year and are included in creditors.

Page 24

Yeovil Community Church

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

20 Funds

20 Funds
Balance at Balance at
1 January Incoming Resources 31 December
2022 resources expended Transfers 2022
£ £ £ £ £
Unrestricted funds
General
General fund 120,628 683,779 (676,836) (57,503) 70,068
Designated
Designated Building
Fund 842,564 - (8,674) 57,360 891,250
Total unrestricted funds 963,192 683,779 (685,510) (143) 961,318
Restricted funds
Capital/Building
Development Fund 89,979 15,000 (7,926) - 97,053
Griffiths Legacy -
Overseas Mission 41,246 3,150 (11,492) - 32,904
Raise your words Y4F -
Writers Group 3,313 - - - 3,313
Small Support Funds
Y4F 10,279 200 (198) - 10,281
Lottery Funding
Homeless Project Y4F 40,481 - (10,799) - 29,682
Y4F Contingency Fund 43,092 27,216 - - 70,308
Y4F General 274,338 198,737 (296,233) - 176,842
Y4F Afghan Families - 250 (85) - 165
Y4F Intentional Peer
Support - 8,512 (3,059) - 5,453
Y4F Resettlement - 12,055 (9,315) - 2,740
Short Term Gifts - 3,541 (3,684) 143 -
SCC ARAP - 28,350 (23,469) - 4,881
Abri sustaining families - 38,000 - - 38,000
Charis - 58,260 (49,194) - 9,066
Total restricted funds 502,728 393,271 (415,454) 143 480,688
Total funds 1,465,920 1,077,050 (1,100,964) - 1,442,006

Page 25

Yeovil Community Church

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

Balance at 1 Incoming Resources Balance at 31
January 2021 resources expended December 2021
£ £ £ £
Unrestricted funds
General
General fund 79,033 522,856 (481,261) 120,628
Designated
Designated Building Fund 850,092 - (7,528) 842,564
Total unrestricted funds 929,125 522,856 (488,789) 963,192
Restricted
COVID Response Grant -
Poppins 4,000 - (4,000) -
Capital/Building
Development Fund 80,524 17,000 (7,545) 89,979
Griffiths Legacy - Overseas
Mission 41,246 - - 41,246
Raise your words Y4F -
Writers Group 3,435 - (122) 3,313
Small Support Funds Y4F 4,331 6,978 (1,030) 10,279
Lottery Funding Homeless
Project Y4F 14,507 38,119 (12,145) 40,481
Y4F Contingency Fund 15,876 27,216 - 43,092
Y4F General 169,037 495,731 (390,430) 274,338
Total restricted funds 332,956 585,044 (415,272) 502,728
Total funds 1,262,081 1,107,900 (904,061) 1,465,920

Page 26

Yeovil Community Church

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

The specific purposes for which the funds are to be applied are as follows:

The unrestricted general fund is available to be used at the trustees discretion to further the objects of the charity.

Designated funds include unrestricted funds that have been ringfenced by the trustees for the purpose of maintaining a building fund. This equates to the net book value of assets purchased from designated income. Depreciation on these assets is written off annually against the designated funds.

Restricted funds 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.

The Griffiths Legacy of which a balance of £32,904 is restricted on spending for overseas mission trips as approved by the trustees.

The Capital/Building Development Fund of which a balance of £97,053 is restricted on spending for the development, improvement and potential expansion of the building.

The Raise your words Y4F - Writers Group, of which a balance of £3,313 is restricted for spending on the writers group.

The Small support funds Y4F, of which a balance of £10,281 is restricted for spending on those in the community who require additional help with small or sundry items.

The Lottery Funding Homeless Project Y4F fund, of which a balance of £29,682 is restricted for spending on working with the Homeless community.

The Y4F Funds brought forward totalled £274,338 plus £43,092 for the Y4F Contingency fund. Total income of £225,953 relates to grants, direct credits as well as other income received in the year. Total expenditure of £296,233, made up of wages, office services, travel, depreciation and other costs were spent in the year. This resulted in funds carried forward of £247,150 including a carried forward balance of £70,308 for the Y4F contingency fund. The Y4F general fund is ringfenced for Y4F, but the use within that is not determined. This is restricted for the enhancement of the programme. The Y4F contingency fund is restricted to enable the charity to ensure all wages and debts are paid should Y4F funding cease.

The Y4F Afghan Families fund, of which a balance of £165 is restricted to subsidise additional items required, trips and necessities.

The Y4F International Peer Support fund, of which a balance of £5,453 is restricted to support IPS group activities including swimming sessions.

The Y4F Resettlement fund, of which a balance of £2,740 is retricted to support resettlement work including the initial set up of the Welcome Hub before the charity were engaged in a contract with Charis and subsidising trips/days out associated with the Welcome Hub.

The Short Term Gifts fund, relates to income and expenditure in relation to the Yeovil churches carol concert.

Page 27

Yeovil Community Church

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

The SCC ARAP fund, of which a balance of £4,881 is restricted to support families in need in the local area.

The Abri sustaining families fund, of which a balance of £38,000 is restricted to support families in need in the local area.

The Charis fund, of which a balance of £9,066 is restricted, is due to Charis being directly contracted by Somerset Council and the charity have engaged in a contract with them to run a Welcome Hub from the Gateway building.

21 Analysis of net assets between funds

Total funds
at 31
Unrestricted funds Restricted December
General Designated funds 2022
£ £ £ £
Tangible fixed assets 86,393 891,250 - 977,643
Current assets 54,976 - 480,688 535,664
Current liabilities (71,301) - - (71,301)
Total net assets 70,068 891,250 480,688 1,442,006
Total funds
at 31
Unrestricted funds Restricted December
General Designated funds 2021
£ £ £ £
Tangible fixed assets 79,819 842,564 6,686 929,069
Current assets 97,244 - 496,042 593,286
Current liabilities (56,435) - - (56,435)
Total net assets 120,628 842,564 502,728 1,465,920

22 Related party transactions

During the year the charity made the following related party transactions:

Claire Hardy, who is the daughter of a trustee, is married to Joseph Hardy. They are both employed by the Charity on salaries commensurate with their positions.

At the balance sheet date the amount due to/from was £Nil (2021 - £Nil).

Jo Nichols is the daughter of a trustee and is employed by the Charity on a salary commensurate with her position.

At the balance sheet date the amount due to/from was £Nil (2021 - £Nil).

Page 28

Yeovil Community Church

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

Lisa Collins, whose husband is a trustee, is employed by the Charity.

At the balance sheet date the amount due to/from was £Nil (2021 - £Nil).

Yeovil Community Church Trust

The Charity 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 and M Nichols.

The Charity was removed from the register on 30 March 2023.

At the balance sheet date the amount due to/from Yeovil Community Church Trust was £Nil (2021 - £Nil).

Revolution Audio

During the year, the Charity paid £23,771 (2021: £5,508) to Revolution Audio for equipment hire which is a business run by Malcolm Nichols' son.

At the balance sheet date the amount due to/from Revolution Audio was £Nil (2021 - £Nil).

Page 29