Annual Report and Financial Statements for the Year Ended 31 December 2023
## The Slade Evangelical Church
Charity registration number: 1173777
Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex PO18 8NF
## **THE SLADE EVANGELICAL CHURCH**
## **CONTENTS**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 5|
|Independent Examiner's Report|6|
|Statement of Financial Activities|7|
|Balance Sheet|8|
|Notes to the Financial Statements|9 to 21|
## **THE SLADE EVANGELICAL CHURCH**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Trustees**
Richard Evans Graham Gay Andrew Laws Christopher Statter (resigned 29 March 2023) Wesley McNabb Martin Harrison Ryan Johnson (resigned 15 April 2023) Antonio Carvalho Dias Philip Acheson Darrell Jones Charles Erhabor (appointed 5 July 2023) John Friday (appointed 5 July 2023) Colin White (appointed 1 April 2024)
**Charity Registration** 1173777 **Number Principal Office** 38 The Slade London SE18 2NB **Independent Examiner** G W Schulz FCMA Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex PO18 8NF **Bankers** The Co-operative Bank 1 Balloon Street Manchester M60 4EP
Page 1
## **THE SLADE EVANGELICAL CHURCH**
## **TRUSTEES' REPORT**
The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2023.
## **Structure, governance and management**
## _**Nature of governing document**_
The church was founded originally as ‘The Slade Mission’ in 1880, being renamed ‘The People’s Hall Evangelical Free Church’ in 1921. The current name, ‘The Slade Evangelical Church’ was adopted in 1999. The original Charitable Scheme was drawn up by the Charity Commissioners and sealed on 10th December 1940. An updated scheme was then put in place on 28th February 1996. Its charity number was 241336. A new constitution establishing a Charitable Incorporated Organisation (CIO) was approved by the Charity Commission in July 2017. The charity number is 1173777. The church properties were transferred to the CIO in 2019 and the remaining assets were transferred from the Unincorporated Charity (no. 241336) on 1 January 2020. The principal address is 38 The Slade, Plumstead Common, London SE18 2NB.
## _**Organisational structure**_
The CIO constitution determines that all church officers (elected elders and deacons) are trustees. The trustees formally meet together at least three times per year to discuss and make necessary decisions concerning ongoing church business. Formal church members’ meetings are held at least twice each year at which the trustees report to and are answerable to members with reference to their own individual areas of responsibility within the church. All church officers undergo DBS checks.
The weekly handling and banking of donations made to the church through the Sunday offerings and in other ways is conducted by a small team of church members headed by the Treasurer. The Treasurer presents a financial summary displaying the current financial position at each of the trustees’ meetings as well as making a report to the church membership as a whole twice each year in advance of the members’ meetings.
## _**Risk management**_
The trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Page 2
## **THE SLADE EVANGELICAL CHURCH TRUSTEES' REPORT (CONTINUED)**
## **Objectives and activities**
## _**Objects and aims**_
The object of The Slade Evangelical Church continues to be to advance the Kingdom of God through faith in Jesus Christ as Lord and Saviour. The church’s mission statement is “to know Christ better and to make Him better known” and thereby seeks to exercise a ministry both to Christian believers and those who have yet to make such a commitment. The main way in which the church seeks to achieve its objectives is by the provision of thorough Biblical teaching and preaching both in Sunday worship and ministry services and via various midweek ministries which operate through the year including small groups meeting in members’ homes for Bible study, prayer and fellowship, youth groups, meetings for older people and people in their 20s and 30s, a parents/carers and toddlers group and events aimed towards families. The Christianity Explored course is run at regular intervals giving an opportunity for people to explore the Christian faith in greater depth in a discussion group environment. The church devotes a significant proportion of its income towards the support of a number of Christian missionaries around the world and in the UK.
The church is self-governing and in financial terms is dependent upon giving from its members. It is affiliated to the Fellowship of Independent Evangelical Churches (FIEC) and as such makes a monthly contribution to support FIEC in its work of providing support to other like-minded independent churches across the United Kingdom, including training, church planting initiatives and legal and financial support.
## _**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.
## **Achievements and performance**
## _**Review of activities**_
During the year 10 people were newly welcomed into church membership. Three people were called home, another moved away from the area and one moved into a care home. Total membership of the Slade Church at present is 130.
**The Tuesday Leisure Fellowship** group for retired people continued to meet on a fortnightly basis for fellowship and a short service.
**The Slade Sunday Services** - The live streaming of services has continued to cater for those who are unable to attend in person with the recordings remaining accessible from the church website after the service itself. The change to our Sunday evening meetings introduced in 2022 continued with, the first Sunday used for training, second church prayer night, third women’s meeting and fourth men’s fellowship. Youth meetings were held in the evening during term time for 11-18 year olds.
Page 3
## **THE SLADE EVANGELICAL CHURCH**
## **TRUSTEES' REPORT (CONTINUED)**
**Health and Safety** - The usual boiler, water heater and fire extinguisher checks were organised to comply with health and safety legislation. PAT testing was undertaken at the church building and at the property owned by the church at 36 The Slade. Regular fire safety checks were carried out monthly and records were kept. The church Manse, the property at 36 The Slade and the church also underwent gas safety checks and boiler servicing. The deep cleaning of the church cooker was completed.
The Church has in place a safeguarding policy and a food hygiene policy.
**General Data Protection Regulations (GDPR)** following the enforcement of this new ruling in May 2018, in 2022 Church Members and Church attendees were asked to confirm that their details were up to date on the Church Suite database which is used by the Church.
**36 The Slade** , the neighbouring house belonging to the church, continued to be rented out on a 6-monthly rolling contract basis. All Landlord’s responsibilities were completed in 2023.
## **Financial review**
Overall giving to the work of the church remained encouraging, ending the year slightly above budgeted figures.
The trustees nominate an outside organisation each year for the Slade Christmas offering. For Christmas 2023 this offering was given to the work of Open Doors for their Children at Christmas appeal and raised £4,400 which was passed on in February 2024.
## _**Policy on reserves**_
The trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The trustees aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The trustees will endeavour not to set aside funds unnecessarily.
## **Going concern**
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.
Page 4
## **THE SLADE EVANGELICAL CHURCH TRUSTEES' REPORT (CONTINUED)**
## **Statement of 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:
- 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; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
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 annual report was approved by the trustees of the charity on 28 October 2024 and signed on its behalf by:
## R Evans
......................................... Richard Evans Trustee
Page 5
## **THE SLADE EVANGELICAL CHURCH**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE SLADE EVANGELICAL CHURCH**
I report to the trustees on my examination of the accounts of The Slade Evangelical Church for the year ended 31 December 2023.
## **Responsibilities and basis of report**
As the charity trustees of The Slade Evangelical Church 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 The Slade Evangelical Church'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**
Since The Slade Evangelical Church's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Chartered Institute of Management Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of The Slade Evangelical Church as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting 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.
...................................... G W Schulz FCMA
Independent Examiners Ltd
28 October 2024
Page 6
## **THE SLADE EVANGELICAL CHURCH**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023**
|**Note**
**Unrestricted**
**funds**
**£**
**Income and Endowments from:**
Donations and legacies
2
196,895
Charitable activities
3
39,499
Investment income
4
-
Total income
236,394
**Expenditure on:**
Charitable activities
5
223,496
Total expenditure
223,496
Gains/losses on
investment assets
-
Net
income/(expenditure)
12,898
Transfer between funds
541
Net movement in funds
13,439
**Reconciliation of funds**
Total funds brought
forward
1,442,469
Total funds carried
forward
14
1,455,908|**Restricted**
**funds**
**£**
31,925
-
541
32,466
27,804
27,804
1,257
5,919
(541)
5,378
32,024
37,402|**Total**
**2023**
**£**
228,820
39,499
541
268,860
251,300
251,300
1,257
18,817
-
18,817
1,474,493
1,493,310|**Total**
**2022**
**£**
230,534
23,311
513|
|---|---|---|---|
||||254,358|
||||286,523|
||||286,523|
||||(1,252)|
||||(33,417)
-|
||||(33,417)
1,507,910|
||||1,474,493|
The notes on pages 9 to 21 form an integral part of these financial statements. Page 7
## **THE SLADE EVANGELICAL CHURCH**
## **BALANCE SHEET AS AT 31 DECEMBER 2023**
|**Note**
**Fixed assets**
Tangible assets
8
Investments
9
**Current assets**
Debtors
10
Cash at bank and in hand
**Creditors: Amounts falling due within one year**
11
**Net current assets**
**Total assets less current liabilities**
**Creditors: Amounts falling due after more than**
**one year**
12
**Net assets**
**Funds of the charity:**
**Restricted income funds**
Restricted funds
**Unrestricted income funds**
Unrestricted funds
**Total funds**
14|**2023**
**£**
1,438,967
25,265
1,464,232
41,374
117,396
158,770
(9,962)
148,808
1,613,040
(119,730)
1,493,310
37,402
1,455,908
1,493,310|**2022**
**£**
1,472,262
24,009|
|---|---|---|
|||1,496,271|
|||40,055
75,736|
|||115,791
(11,508)|
|||104,283|
|||1,600,554
(126,061)|
|||1,474,493|
|||32,024
1,442,469|
|||1,474,493|
The financial statements on pages 7 to 21 were approved by the trustees, and authorised for issue on 28 October 2024 and signed on their behalf by:
## R Evans
......................................... Richard Evans Trustee
The notes on pages 9 to 21 form an integral part of these financial statements. Page 8
## **THE SLADE EVANGELICAL CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **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**
The Slade Evangelical 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.
## **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.
## _**Gift aid**_
Income from tax reclaims are included in the SOFA during the same period as the gift to which they relate.
## _**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 institution with whom the funds are deposited.
## _**Investment income**_
Dividends and interest on funds held on deposit are included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the dividend or interest paid or payable by the bank.
Page 9
## **THE SLADE EVANGELICAL CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (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.
## _**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.
## **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**
Individual fixed assets costing £500 or more 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**|
|---|---|
|Land and buildings|No depreciation|
|Fixtures and fittings|10% reducing balance|
|Motor vehicles|25% straight line|
|Equipment|25% straight line|
No depreciation is charged to freehold property (land and buildings) as the property is maintained to such a standard that the estimated residual value is not less than cost.
## **Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Page 10
## **THE SLADE EVANGELICAL CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)**
## **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.
## **Liabilities**
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
## **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.
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.
## **Pensions and other post retirement obligations**
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Page 11
## **THE SLADE EVANGELICAL CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)**
## **2 Income from donations and legacies**
|**Unrestricted**
**funds**
**General**
**£**
Donations and legacies;
Donations
162,361
Gift aid reclaimed
34,534
196,895
**3 Income from charitable activities**
**Unrestricted**
**funds**
**General**
**£**
Teaching and ministry
4,753
Events
4,161
Property rent
14,153
Miscellaneous
2,536
Reimbursments
13,896
39,499
**4 Investment income**
**Unrestricted**
**funds**
**General**
**£**
Income from dividends;
Dividends receivable from
other unlisted investments
-|**Restricted**
**funds**
**£**
29,092
2,833
31,925
**Restricted**
**funds**
**£**
-
-
-
-
-
-
**Restricted**
**funds**
**£**
541|**Total**
**2023**
**£**
191,453
37,367
228,820
**Total**
**2023**
**£**
4,753
4,161
14,153
2,536
13,896
39,499
**Total**
**2023**
**£**
541|**Total**
**2022**
**£**
212,804
17,730|
|---|---|---|---|
||||230,534|
||||**Total**
**2022**
**£**
7,342
1,758
13,562
649
-|
||||23,311|
||||**Total**
**2022**
**£**
513|
Page 12
## **THE SLADE EVANGELICAL CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)**
## **5 Expenditure on charitable activities**
|**Note**
Teaching and
ministry
Youth and children
Evangelism
Mission
Gifts to
individuals/organisations
Property
Repairs and
maintenance
Music and
audio-visual
Transfer to AWCC
Administration
Interest
Independent
examination
Depreciation,
amortisation and
other similar costs
Staff costs
7|**Unrestricted**
**funds**
**General**
**£**
8,321
7,954
2,834
22,691
-
18,172
10,768
2,125
-
9,302
-
2,160
33,295
105,874
223,496|**Restricted**
**funds**
**£**
-
-
-
9,313
10,000
-
-
-
-
-
8,491
-
-
-
27,804|**Total**
**2023**
**£**
8,321
7,954
2,834
32,004
10,000
18,172
10,768
2,125
-
9,302
8,491
2,160
33,295
105,874
251,300|**Total**
**2022**
**£**
14,562
5,832
3,205
37,291
2,200
14,529
11,658
2,770
35,449
8,414
5,427
2,040
36,835
106,311|
|---|---|---|---|---|
|||||286,523|
Page 13
## **THE SLADE EVANGELICAL CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)**
## **6 Trustee and related party transactions**
During the year the charity made the following transactions with trustees:
## **Andrew Laws**
Andrew Laws received remuneration of £30,601 (2022: £30,210) during the year. Benefits in kind in the form of pension contributions were paid amounting to £1,530 (2022: £1,485).
## **Wesley McNabb**
Wesley McNabb received remuneration of £44,800 (2022: £44,700) during the year. Benefits in kind in the form of pension contributions were paid amounting to £2,240 (2022: £2,210).
Mrs A Gay, sister-in-law of Graham Gay, a trustee, received remuneration of £8,292 (2022: £8,300).
No other payments were made to trustees or any persons connected with them during this financial period, other than reimbursement for purchases made on behalf of the charity.
## **7 Staff costs**
The aggregate payroll costs were as follows:
|**Staff costs during the year were:**
Wages and salaries
Social security costs
Pension costs|**2023**
**£**
97,561
3,435
4,878
105,874|**2022**
**£**
97,571
3,969
4,771|
|---|---|---|
|||106,311|
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
|follows:|||||
|---|---|---|---|---|
||**2023**||**2022**||
||**No**||**No**||
|Staff||3||3|
No employee received emoluments of more than £60,000 during the year
Page 14
## **THE SLADE EVANGELICAL CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)**
## **8 Tangible fixed assets**
|**8 Tangible fixed assets**|||||
|---|---|---|---|---|
|**Cost**
At 1 January 2023
At 31 December 2023
**Depreciation**
At 1 January 2023
Charge for the year
At 31 December 2023
**Net book value**
At 31 December 2023
At 31 December 2022|**Land and**
**buildings**
**£**
1,153,303
1,153,303
-
-
-
1,153,303
1,153,303|**Fixtures**
**and fittings**
**£**
560,130
560,130
241,460
31,866
273,326
286,804
318,670|**Equipment**
**£**
6,244
6,244
5,955
1,429
7,384
(1,140)
289|**Total**
**£**
1,719,677|
|||||1,719,677|
|||||247,415
33,295|
|||||280,710|
|||||1,438,967|
|||||1,472,262|
Page 15
## **THE SLADE EVANGELICAL CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)**
## **9 Fixed asset investments**
## **Other investments**
|**Cost or Valuation**
At 1 January 2023
Revaluation
At 31 December 2023
**Net book value**
At 31 December 2023
At 31 December 2022
Investments are listed at market value at the year end date.|**Unlisted**
**investments**
**£**
24,009
1,256
25,265
25,265
24,009|**Total**
**£**
24,009
1,256|
|---|---|---|
|||25,265|
|||25,265|
|||24,009|
||||
## **10 Debtors**
|Prepayments
Accrued income
**11 Creditors: amounts falling due within one year**
Bank loans
Other creditors
Accruals|**2023**
**£**
5,100
36,274
41,374
**2023**
**£**
7,100
705
2,157
9,962|**2022**
**£**
6,146
33,909|
|---|---|---|
|||40,055|
|||**2022**
**£**
7,922
597
2,989|
|||11,508|
Page 16
## **THE SLADE EVANGELICAL CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)**
## **12 Creditors: amounts falling due after one year**
|Bank loans|**2023**
**£**
119,730|**2022**
**£**
126,061|
|---|---|---|
The building improvements were partly funded by a bank loan repayable over 15 years and secured on the property at 36 The Slade, London SE18 2NB. The total amount outstanding at the year end amounted to £126,830 and is included in current and long term creditors.
## **13 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 - £4,878 (2022 £4,771).
Contributions totalling £705 (2022 - £596) were payable to the scheme at the end of the year and are included in creditors.
Page 17
## **THE SLADE EVANGELICAL CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)**
## **14 Funds**
|**Unrestricted funds**
**_General_**
General Funds
**Restricted funds**
Burrage Grove
Social & Evangelism
RMH roof fund
Special offerings
Building development
India School
Training & Mission
Mission fund
**Total funds**|**Balance at**
**1 January**
**2023**
**£**
1,442,469
9,006
15,004
1,032
3,322
-
1,660
2,000
-
32,024
1,474,493|**Incoming**
**resources**
**£**
236,394
-
541
-
14,495
11,293
1,097
-
5,040
32,466
268,860|**Resources**
**expended**
**£**
(223,496)
-
-
-
(13,792)
(8,491)
(481)
-
(5,040)
(27,804)
(251,300)|**Transfers**
**£**
**Other**
**recognised**
**gains/(losses)**
**£**
541
-
-
461
(541)
796
-
-
-
-
-
-
-
-
-
-
-
-
(541)
1,257
-
1,257|**Balance at**
**31**
**December**
**2023**
**£**
1,455,908
9,467
15,800
1,032
4,025
2,802
2,276
2,000
-|
|---|---|---|---|---|---|
||||||37,402|
||||||1,493,310|
Page 18
## **THE SLADE EVANGELICAL CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)**
The "Burrage Grove Trust" and the "Social and Evangelism" fund balances are represented by the investments shown in note 7. All other fund balances are wholly represented by cash reserves. Burrage Grove dividends are transferred to the general fund for youth work.
Social and Evangelism dividends are transferred to the general fund to be used to fund social and evangelistic events and are allocated to catering.
The Building Development Fund has been set up to enable people to make gifts specifically to be used for the improvement and development of the buildings owned by the church. The terms of these donations were met once the building improvements were completed in the year, therefore allowing the charity to use the asset on an unrestricted basis for any charitable purposes.
The India School Fund relates to funds given specifically to support this cause.
The Training and Mission Fund is a fund set aside by the church officers to enable the support of those called to undertake mission training or short-term mission trips.
Page 19
## **THE SLADE EVANGELICAL CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)**
|**Unrestricted funds**
**_General_**
General Funds
**Restricted funds**
Burrage Grove
Social & Evangelism
RMH roof fund
Special offerings
Building development
India School
Training & Mission
Mission fund
**Total funds**|**Balance at**
**1 January**
**2022**
**£**
1,475,912
9,534
15,728
1,032
2,474
-
1,230
2,000
-
31,998
1,507,910|**Incoming**
**resources**
**£**
221,951
-
513
-
9,317
12,183
955
-
9,439
32,407
254,358|**Resources**
**expended**
**£**
(262,663)
-
-
-
(8,469)
(5,427)
(525)
-
(9,439)
(23,860)
(286,523)|**Transfers**
**£**
**Other**
**recognised**
**gains/(losses)**
**£**
7,269
-
-
(528)
(513)
(724)
-
-
-
-
(6,756)
-
-
-
-
-
-
-
(7,269)
(1,252)
-
(1,252)|**Balance at**
**31**
**December**
**2022**
**£**
1,442,469
9,006
15,004
1,032
3,322
-
1,660
2,000
-|
|---|---|---|---|---|---|
||||||32,024|
||||||1,474,493|
Page 20
## **THE SLADE EVANGELICAL CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)**
## **15 Analysis of net assets between funds**
|**Current year**
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Creditors over 1 year
Total net assets
**Prior year**
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Creditors over 1 year
Total net assets|**Unrestricted**
**funds**
**General**
**£**
1,438,967
-
146,633
(9,962)
(119,730)
1,455,908
**Unrestricted**
**funds**
**General**
**£**
1,472,262
-
107,776
(11,508)
(126,061)
1,442,469|**Restricted**
**funds**
**£**
-
25,265
12,137
-
-
37,402
**Restricted**
**funds**
**£**
-
24,009
8,015
-
-
32,024|**Total funds**
**at 31**
**December**
**2023**
**£**
1,438,967
25,265
158,770
(9,962)
(119,730)|
|---|---|---|---|
||||1,493,310|
||||**Total funds**
**at 31**
**December**
**2022**
**£**
1,472,262
24,009
115,791
(11,508)
(126,061)|
||||1,474,493|
Page 21