DAYSPRING CHURCH TRUST Accounts- 31 December 2022
DAYSPRING CHURCH TRUST
Charity number: 1170813
Accounts – 31[st] December 2022
INDEX
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1-2. Report of the Trustees and General Information 3. Independent Examiner’s Report to the Trustees 4. Statement of Financial Activities 5. Balance Sheet 6-11. Notes to the Accounts
DAYSPRING CHURCH TRUST
REPORT OF THE TRUSTEES for the year ended 31[st] December 2022
The Trustees are pleased to present their annual report and financial statements of the charity for the year ended 31[st] December 2022.
The Financial Statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and complies with the Charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice (second edition) and Financial Reporting Standard FRS 102.
Reference and Administration Details
The charity’s name is Dayspring Church Trust.
Charity Registration Number: 1170813
Registered Address: Dayspring Church Trust 67 Wyvern Avenue Calne Wiltshire SN11 8NZ
Trustees
The Trustees and officers who served during the year and since the year end were as follows:
C West (Chair) D Halls R Mrode I Powell (resigned 1 October 2021) D Whale (appointed 19 January 2022)
Objects and Activities
The main objects of the charity are:
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a) The advancement of the Christian faith
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b) Relief of persons who are in conditions of need, hardship or distress, or who are aged or sick
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c) The advancement of education on Christian principles in any educational establishment
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d) To promote any other charitable objects as the Trustees think fit.
In planning the activities of the charitable company the trustees have considered the Charity Commission’s guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion.
Achievements and Performance
In 2022 we posed the question what is the “new normal” as things settled down following the pandemic. Numbers on a Sunday morning are down but in similar proportion to most other churches. With the reduction in numbers and an increase in the average age it means we are careful in what we commit to.
We continue to meet together Sunday mornings with sung worship, word, children and teens work and fellowship. During the year we saw three new people join us.
The weekday morning prayer group on zoom using Northumbria Morning Prayer continues with a core group of seven as suits individuals work patterns.
Renewed the small group made up of older members of Dayspring meets twice a month in one of the homes.
The church wide family WhatsApp group continues to operate providing information, encouragement, and humour.
DAYSPRING CHURCH TRUST
REPORT OF THE TRUSTEES
for the year ended 31[st] December 2022 ( Continued)
Achievements and Performance (continued)
Dayspring continues to support Open Blue a charity looking to show the love of Jesus to those struggling with rural isolation and poverty. Dayspring provides significant financial support and many of its volunteers are drawn from those attending the Sunday morning. David Sandberg picked up running Open Blue in September 2021 and regularly reports back.
In addition, we support two local Food Banks, Home of Hope in Romania, Women Without Roofs in Nepal and the Gautampuri school in India. We raised £4,895 for the slum school in Delhi we support through the Bridge Trust. We also raised £3,100 for the work of World Venture in Ukraine.
The lease on Dayspring’s office came up for renewal and it was decided not to renew it. Costs of £5,508 were involved in returning it to a satisfactory state before handing it back. These were funded out of reserves.
Financial Review
Total income in 2022 was £78,438 compared to £78,043 in 2021 and total expenditure was £77,249 compared to £86,193 in 2021. We continue to monitor the finances closely.
Reserves Policy
The Trustees believe in holding 3 months expenditure. The Trustees consider that this should be £26,250 held in general funds. Currently reserves are below this level and the Trustees will continue to monitor the financial position of the charity.
Structure, Governance and Management
Governing Document
Dayspring Church Trust is registered as a Charitable Incorporated Organisation with the Charity Commission. It was formed under a Trust Deed registered on 19[th] December 2016. It took over the assets and liabilities and charitable activities of Dayspring Church Trust, registered charity number 1057478.
Appointment of Trustees
The charity ensures existing trustees are kept informed of the activities and performance of the charity and are provided with regular management information.
The trustees keep the composition of the board under review and will seek to appoint additional members with appropriate skills and expertise should the need arise. Interested parties are given details of the background of the charitable company in order to make them aware of current activities.
Approved by the directors on 16 October 2023 and signed on its behalf by:
C West Trustee
……………………………………
Chippenham, Wiltshire
DAYSPRING CHURCH TRUST
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES
I report to the trustees on my examination of the accounts of Dayspring Church Trust for the year ended 31st December 2022.
Responsibilities and Basis of Report
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent Examiner’s Statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
A P Williams FCCA A J Carter & Co Chartered Accountants
22b High Street Witney Oxon OX28 6RB 19 October 2023
DAYSPRING CHURCH TRUST
STATEMENT OF FINANCIAL ACTIVITIES
(including an income and expenditure account) for the year ended 31[st] December 2022
| Note Income from: Donations and legacies 3 Investments 4 Other 5 Total incoming resources Expenditure on: Raising funds Charitable activities 6 Total expenditure Net income/(expenditure) and net movement in funds for the year Transfer between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted Restricted Total Funds Funds Funds 2022 £ £ £ 68,313 9,071 77,384 10 - 10 1,044 - 1,044 69,367 9,071 78,438 - - - 69,073 8,176 77,249 69,073 8,176 77,249 294 895 1,189 6,222 (6,222) - 6,516 (5,327) 1,189 12,765 7,291 20,056 £19,281 £1,964 £21,245 |
Total Funds 2021 £ 77,564 2 477 |
|---|---|---|
| 78,043 | ||
| - 86,193 |
||
| 86,193 | ||
| (8,150) - |
||
| (8,150) 28,206 |
||
| £20,056 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derives from continuing activities.
The notes on pages 6 to 11 form part of these financial statements
DAYSPRING CHURCH TRUST
BALANCE SHEET as at 31[st] December 2022
| Note Current assets Debtors 11 Cash at bank and in hand Total current assets Liabilities Creditors falling due within one year 12 Net current assets Total net assets 13 The funds of the Charity Restricted income funds 14 Unrestricted income funds 14 Total charity funds |
2022 £ - 22,415 22,415 1,170 21,245 21,245 1,964 19,281 £21,245 |
2021 £ 1,625 19,601 |
|---|---|---|
| 21,226 1,170 |
||
| 20,056 | ||
| 20,056 | ||
| 7,291 12,765 |
||
| £20,056 |
These accounts were approved by the trustees and authorised for issue on: 16 October 2023 and are signed on their behalf by:
C West …………………………. Trustee
D Halls …………………………. Trustee
The notes on pages 6 to 11 form part of these financial statements
DAYSPRING CHURCH TRUST
NOTES TO THE ACCOUNTS
for the year ended 31[st ] December 2022
1. Accounting Policies
The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
a) Basis of Preparation
The financial statements have been prepared in accordance with the 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.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
- b) Public Benefit Entity
Dayspring Church Trust meets the definition of a public benefit entity under FRS 102.
c) Going Concern
The Trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
d) Income Recognition Policies
Items of income are recognised and included in the accounts when all of the following criteria are met:
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The charity has entitlement to the funds;
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any performance conditions attached to the items of income have been met or are fully within the control of the charity;
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there is sufficient certainty that receipt of the income is considered probable; and
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the amount can be measured reliably.
Income received in advance of a specific performance or provision of other specified service is deferred until the criteria for income recognition are met.
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e) Interest Receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the bank.
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f) Fund Accounting
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Unrestricted funds are available to spend on activities that further any of the purposes of the Charity. Designated funds are unrestricted funds of the Charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for the particular areas of the Charity’s work or for specific projects being undertaken by the Charity.
DAYSPRING CHURCH TRUST
NOTES TO THE ACCOUNTS
for the year ended 31[st] December 2022 (continued)
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g) Expenditure and Irrecoverable VAT
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Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
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h) Cash at Bank and in Hand Cash at bank and cash in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
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i) Creditors and Provisions Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
2. Legal Status of the Charity
Dayspring Church Trust is a registered charity and was formed under a Deed of Trust dated 13[th] May 1996. The Church has now transitioned to a CIO structure. The process involved a new charity being registered with the Charity Commission, charity number 1170813. The charity name, aims and objectives and trustees remain unchanged. Dayspring has been operating as the new charity since 1st January 2017.
3. Income from donations
| Gifts and donations | 2022 £ 77,384 £77,384 |
2021 £ 77,564 |
|---|---|---|
| £77,564 |
Of the £77,384 received in 2022 (2021: £77,564) £9,071 was restricted funds (2021: £4,042) and £68,313 (2021: £73,522) unrestricted funds.
4. Investment income
All of the Charity investment income arises from money held in the Lloyds Bank.
5. Income earned from other sources
| Other | 2022 £ 1,044 £1,044 |
2021 £ 477 |
|---|---|---|
| £477 |
DAYSPRING CHURCH TRUST
NOTES TO THE ACCOUNTS
for the year ended 31[st] December 2022 (continued)
6. Analysis of expenditure on charitable activities
| Grants in furtherance of charity objects: Gifts to persons in need Gifts to other ministries Other gifts Activities in furtherance of charity objects: Membership subscriptions Weekend Away Rent Teaching resources Music and PA resources Social Youth work Children's work Outreach Delhi School Ukraine Leadership resources External ministry Ministry support Ministry expenses Training Website and publicity Management and administration: Office supplies Legal and insurance Equipment Computer software and hardware Sundries Telephone Postage Bank charges Accountancy Total |
Unrestricted Restricted 2022 Total £ £ £ - - - 2,124 - 2,124 - 1,076 1,076 138 - 138 - - - 12,952 - 12,952 122 - 122 33 - 33 228 - 228 217 - 217 336 - 336 118 - 118 - 4,000 4,000 - 3,100 3,100 73 - 73 433 - 433 38,992 - 38,992 1,383 - 1,383 15 - 15 719 - 719 6,662 - 6,662 958 - 958 204 - 204 452 - 452 96 - 96 1,419 - 1,419 25 - 25 204 - 204 1,170 - 1,170 £69,073 £8,176 £77,249 |
2021 Total £ - 2,034 - 133 - 9,626 259 52 125 958 494 30 4,000 - 730 1,030 54,694 1,096 358 933 2,586 2,910 532 680 55 1,435 59 214 1,170 |
|---|---|---|
| £86,193 |
Of the £77,249 expenditure in 2022 (2021: £86,193), £69,073 was charged to unrestricted funds (2021: £82,193) and £8,176 to restricted funds (2021: £4,000).
DAYSPRING CHURCH TRUST
NOTES TO THE ACCOUNTS
for the year ended 31[st] December 2022 (continued)
7. Net income/(expenditure) for the year
| This is stated after charging: Independent examiner's fee |
2022 £ 1,170 |
2021 £ 1,170 |
|---|---|---|
8. Analysis of staff costs and trustee remuneration and expenses
| Salaries and wages - key management personnel Social security costs Pension contributions |
2022 £ - - - £- |
2021 £ 18,175 - 1,303 |
|---|---|---|
| £19,478 |
No employees had emoluments in excess of £60,000 (2021: Nil).
During the year one of the Trustees received fees from the charity (as permitted by the Trust Deed) as follows:
| D Halls Trustee expenses paid in the year were: |
2022 £ 7,176 £7,176 £2,134 |
2021 £ 19,176 |
|---|---|---|
| £19,176 | ||
| £1,638 |
The trustee C West was reimbursed expenses totalling £1,341 (2021: £496) and D Halls £793 (2021: £1,142).
9. Staff numbers
The average monthly number of employees during the year was as follows:
| 2022 | 2021 |
|---|---|
| Number | Number |
| - | 1 |
10. Corporation tax
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
DAYSPRING CHURCH TRUST
NOTES TO THE ACCOUNTS for the year ended 31[st] December 2022 (continued)
11. Debtors
| Prepayments Creditors: amounts falling due within one year Accruals |
2022 £ - £- 2022 £ 1,170 £1,170 |
2021 £ 1,625 |
|---|---|---|
| £1,625 | ||
| 2021 £ 1,170 |
||
| £1,170 |
12. Creditors: amounts falling due within one year
13. Analysis of net assets between funds
| Cash at bank and in hand Other net current assets/(liabilities) Total |
General Designated Restricted Fund Funds Funds Total £ £ £ £ 17,549 2,902 1,964 22,415 (1,170) - - (1,170) |
|---|---|
| £16,379 £2,902 £1,964 £21,245 |
- Analysis of charitable funds
Analysis of movements in restricted funds
| Building fund Spirituality Centre Delhi School Ukraine Luke Jones Trip The Open Blue Trust - Bus Fund Mutende Money Tree Total |
Balance Incoming Resources Funds 31.12.2021 resources expended Transfers 31.12.2022 £ £ £ £ £ 50 - - - 50 6,647 - - (6,222) 425 562 4,895 (4,000) - 1,457 - 3,100 (3,100) - - 9 - - - 9 - 1,076 (1,076) - - 23 - - - 23 |
|---|---|
| £7,291 £9,071 £(8,176) £(6,222) £1,964 |
DAYSPRING CHURCH TRUST
NOTES TO THE ACCOUNTS
for the year ended 31[st] December 2022 (continued)
Analysis of charitable funds (continued)
Analysis of movements in unrestricted funds
| General fund Designated fund Total |
Balance Incoming Resources Funds 31.12.2021 resources expended Transfers 31.12.2022 £ £ £ £ £ 10,977 69,367 (69,073) 5,108 16,379 1,788 - - 1,114 2,902 |
|---|---|
| £12,765 £69,367 £(69,073) £6,222 £19,281 |
Name of unrestricted fund Description, nature and purposes of the fund
General fund The 'free reserves' after allowing for all designated funds. Designated fund Designated for the set up of a new Spirituality Centre.
15. Related party transactions
During the year under review trustees, key management personnel and their close relatives made unrestricted donations totalling £15,165 (2021: £19,416) and restricted donations totalling £nil (2021: £400).
The trustees R Mrode and D Halls are also trustees of The Open Blue Trust. During the year Dayspring Church Trust paid £31,816 to The Open Blue Trust for staff support. Dayspring Church Trust received offerings for The Open Blue Trust of £1,076.