2022-12-31-accounts - Spicer Street Church

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REGISTERED CHARITY NUMBER: 1173938

Report of the Trustees and Financial Statements for the Year Ended 31 December 2022

for

Spicer Street Church

George Arthur Limited Chartered Accountants Suite 6B, Wentworth Lodge Great North Road Welwyn Garden City Hertfordshire AL8 7SR

Spicer Street Church

Contents of the Financial Statements for the Year Ended 31 December 2022

	Page
Report of the Trustees	1 to 5
Statement of Trustees' Responsibilities	6
Independent Examiner's Report	7
Statement of Financial Activities	8
Balance Sheet	9
Cash Flow Statement	10
Notes to the Cash Flow Statement	11
Notes to the Financial Statements	12 to 20

Spicer Street Church

Report of the Trustees for the Year Ended 31 December 2022

Psalm 118:1-2: Give thanks to the Lord, for he is good; his love endures forever. (NIV)

This year has seen the removal of Covid restrictions and a return to our usual pattern of ministry. We give thanks for the Lord's sustaining hand throughout, and thank Him for his goodness towards us. As we seek to minister to those the Lord brings to our attention, we pray that they too may encounter his enduring love.

The trustees present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES Objectives and aims

The purposes of the Church are:

The advancement of the Christian faith in accordance with the Basis of Faith primarily but not exclusively within St Albans, Hertfordshire and the surrounding neighbourhood; and
Such other charitable purposes as shall, in the opinion of the members of the Church in general meeting, put into practice the Christian faith in accordance with the Basis of Faith, including but not limited to: the prevention and relief of need, hardship and sickness; the advancement of education; and the provision of facilities in the interests of social welfare for recreation of individuals who have need of such facilities by reason of their youth, age infirmity or disability, financial hardship or social circumstances with the object of improving their conditions of life; provided that the advancement of such purposes must be undertaken in a manner that is consistent with the Doctrinal Distinctives and Ethical Statements as may be adopted and amended by the Church from time to time in accordance with the provisions of the Church Handbook.

Provided that the advancement of such purposes must be undertaken in a manner that is consistent with the Doctrinal Distinctives and Ethical Statements as may be adopted and amended by the Church from time to time in accordance with the provisions of the Church Handbook.

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Spicer Street Church

Report of the Trustees for the Year Ended 31 December 2022

OBJECTIVES AND ACTIVITIES The church's ministries

In fulfilment of these purposes, the church has appointed a Senior Pastor and Trustee, Greg Strain, two Assistant Pastors and Trustees, Dan Hook and Phil Vance, a Youth Worker, Judith Keane, and a Women's Worker, Rebecca Broomhead. We have also seen a number of families join us having recently moved from Hong Kong. This included a former church pastor, Ernest Lam, whom we have taken on as Associate Pastor to help us provide spiritual support for those families. Together these form the Pastoral Team, responsible for maintaining a regular ministry and pastoral care for the congregation. In the summer, Phil Vance received a call from Antrim Baptist Church and moved to become their pastor, thereby retiring as one of our trustees.

Extensive use is made of the church members who willingly volunteer their time to, e.g., support youth work, undertake visits/phone calls to church members and other regular attendees, provide oversight, maintain the premises and serve in the wider community.

The church has brought benefit through:

A programme of meetings and events which seeks to deepen the spiritual lives of the individual members, help them to live out the Christian life where they live and work, and provide opportunities for other members of the public to hear the Christian gospel. We have enjoyed being able to meet in person throughout the year, but have also made our services available through our YouTube channel. Zoom meetings have continued to play an important part of our ministries. Our meetings included:
morning and evening services each Sunday;
morning Sunday schools;
a mid-week programme, including meetings for both prayer and teaching;
Christianity Explored courses;
One-to-one discipleship;
Christmas carol service;
Various other teaching and outreach ministries in and around the local area, including a toddler group, youth work, and religious services in care homes for the elderly, covid restrictions permitting.
Encouragement to its members to pray for the wider church, the needs of the world and to volunteer their time in the name of Christ to serve the needs of the community. Prayer meetings are now held in person.
Support for a number of missionary workers, who were during 2022 placed in Scotland, Japan, Nigeria, Belgium and Moldova.
Support for a number of other churches and organisations working in gospel ministry in the UK and around the world in Belgium, Slovakia and Nigeria.
Buildings which provide for Sunday worship and facilitate meetings throughout the week and for the encouragement of the Christian faith amongst all ages within the local community. The provision of video equipment in 2020 has enabled the live broadcast of services to those unable to attend the building due to reasons of health or infirmity.

Public benefit

The Trustees are aware of the Charity Commission's guidance on public benefit (PB1). They consider that the church's objectives and activities, and their decision-making in relation thereto, are and have been consistent with that guidance.

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Spicer Street Church

Report of the Trustees for the Year Ended 31 December 2022

OBJECTIVES AND ACTIVITIES

Grantmaking

All substantial grants are approved by the church members' meeting. Those who receive grants are reminded that their support is regularly reviewed and may change according to circumstances and the availability of funds. Regular reports of their activities are received by the church.

In addition, there are specially announced collections throughout the year with the monies donated being given directly to the organisation concerned without additional member approval. Research into a suitable project is undertaken by the church and the project approved by the trustees. Reports are received from the organisation on the benefit derived from that giving. These grants are made as restricted gifts and, for the period covered by this annual report, were for the following purposes:

• Christmas 2021 (monies paid in 2022): This provided support for Christians in the rural areas of Upper Egypt who are suffering from extreme poverty as a result of persecution. £77,531 paid through Release International.

Easter: provision of spiritual and physical support to Ukrainians fleeing the conflict in Ukraine. This was provided as follows:
£26,875 to Paradox Church, Slovakia, a church and its pastor with whom we have had close
contact with over many years, who provided humanitarian aid, food, transport and general support to Ukrainian refugees in Slovakia.
£28,091 to Cirkev Bratská, the denominational body of Paradox church, and led by Jan Henzel (as
General Secretary) with whom we have had close contact over many years, who supported Ukrainian
pastors to supply humanitarian aid, and support to Ukrainian refugees.
£50,000 to the Bible Society in support of its appeal for Ukrainian Bibles.
£43,140 to Operation Mobilisation in support of its work at the borders, supplying food, drink, and New Testaments to refugees.
Harvest: Provision of support to Christians suffering persecution in Yemen. £67,680 paid through Operation Mobilisation.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

During 2022, the church has continued to focus on teaching the Bible and promoting prayer and fellowship, including through the teaching and outreach ministries outlined above.

In addition to weekly services and mid-week fellowship and teaching, there were four baptisms, one wedding and one funeral. Membership at the end of 2022 was 233 (2021: 245).

FINANCIAL REVIEW

Principal funding sources

The church continues to be dependent on donations made by the church members and other donors. This remained stable throughout 2022. For the year ended 31 December 2022 donations totalled £482,698 plus restricted giving of £282,214.

Investment policy and objectives

The church's investment assets include an interest in the pastor's house. The value of the property is reviewed from time to time by the Trustees and Treasurer to ensure that the market value is greater than the investment. The remaining financial assets of the church are held in instant access bank account deposits or in bank account notice deposits. There is no exposure to stock market shares.

Reserves policy

It is not the policy of the church to build up general reserves, preferring to rely on God's providence to meet needs as they arise, but at the end of 2022 the church had reserves equivalent to an expenditure of nine months. The Trustees plan to review the Reserves policy during the current year.

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Spicer Street Church

Report of the Trustees for the Year Ended 31 December 2022

FINANCIAL REVIEW

Property and land

The property and land consisting of Spicer Street Church and adjoining halls and garden are owned by the church. The Constitution retained in part a trust deed dated 2 May 1812 that sets out the basis for the use of the church buildings and chapel in Spicer Street, St Albans.

The church has a 54.73% share in 1 Downes Road.

The church owns 66 St Vincent Drive outright – there is no mortgage or other beneficial owner.

FUTURE PLANS

Several items are proposed for 2023. These have arisen through an ongoing review of activities and a desire to enable those outside the church to understand the gospel of Jesus Christ. Such plans include:

• We plan to continue to provide a programme of meetings where Christians can build up in the faith and which also help those seeking to understand the faith;

Possible development of the church building and surrounding land to make it more suitable for its current usage;
Church planting and revitalisation in nearby towns as the Lord permits;
Holding evangelistic events outside of the church building to encourage people to hear the gospel;
Pastoral support amongst those arriving from Hong Kong;
Encouraging deepening fellowship amongst the church members.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The church's governing document is a written Constitution approved and adopted at a church members' meeting held on 11th July 2017, and amended during 2022 to permit participation in General Meetings by electronic means. The church also operates with a church handbook, approved and adopted at a church members' meeting held on 11th July 2017. The church is a Charitable Incorporated Organization, with registration number 1173938.

Recruitment and appointment of new trustees

Appointment of Trustees and the Treasurer are set out in the Constitution and Church Handbook. The Pastor and Assistant Pastors are automatically Trustees for the duration of their tenure. Other Trustees are appointed from the membership of the church for a period of up to five years, after which they may stand down or be re-elected. Recommendations for new/re-elected Trustees are brought to the church members' meeting by the existing trustees. They are appointed at a church meeting via a resolution that must be passed by a 75% majority of the quorum then present. As all the original trustees were appointed at the same time (i.e., when the CIO was formed), those trustees are being reappointed, if required, at varied intervals of no more than 5 years, to stagger their reappointment or replacement.

Organizational structure

The Trustees and Treasurer regularly review and discuss the affairs of the church. At Church members' meetings, held regularly throughout the year, members review and make decisions concerning the affairs of the church in response to the leadership and work of the Trustees and Treasurer. All important matters concerning finance and property are brought to the church meeting for decision.

Induction and training of new trustees

New Elders and Treasurers are briefed as necessary on their obligations under charity law, the Constitution and the decision-making processes of the church.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

1173938

Principal address

Spicer Street St Albans Hertfordshire AL3 4PQ

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Spicer Street Church

Report of the Trustees for the Year Ended 31 December 2022

Trustees G Strain F Guest (resigned 31.12.22) D Hook C Upton T Ward S Hounslow P W Vance (retired 14.8.22) J K Sleep D A Shaw D J Nicholson N I Jefferies

The elders of the church are classified as trustees for legal purposes.

Independent Examiner Peter Rook George Arthur Limited Chartered Accountants Suite 6B, Wentworth Lodge Great North Road Welwyn Garden City Hertfordshire AL8 7SR

Treasurer

G Smith.

Bankers Lloyds Bank plc Units 32 & 32a Intu Shopping Centre Watford WD17 2UB Kingdom Bank Media House Padge Road Beeston Nottingham NG9 2RS

CHURCH'S WEBSITE

Further details of the church may be found at its website: www.spicerstreet.org.uk .

Approved by order of the board of trustees on 28 March 2023 and signed on its behalf by:

G Strain - Trustee

Page 5

Spicer Street Church

Statement of Trustees' Responsibilities for the Year Ended 31 December 2022

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

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charity SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They 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.

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Independent Examiner's Report to the Trustees of Spicer Street Church

Independent examiner's report to the trustees of Spicer Street Church

I report to the charity trustees on my examination of the accounts of Spicer Street Church (the Charity) for the year ended 31 December 2022.

This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the charity trustees of the Charity 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 Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants in England and Wales 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:

accounting records were not kept in respect of the Charity as required by Section 130 of the Act; or
the accounts do not accord with those records; or
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.

Peter Rook Institute of Chartered Accountants in England and Wales George Arthur Limited Chartered Accountants Suite 6B, Wentworth Lodge Great North Road Welwyn Garden City Hertfordshire AL8 7SR

Date: 29 March 2023

Page 7

Spicer Street Church

Statement of Financial Activities

for the Year Ended 31 December 2022

Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Investment income 3 Total EXPENDITURE ON Charitable activities 4 Gifts to Christian causes (including support costs) Church ministry Establishment costs Governance costs Total NET INCOME/(EXPENDITURE) Transfers between funds 12 Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	Unrestricted funds £ 482,698 3,785 486,483 84,835 305,106 66,221 6,791 462,953 23,530 (2,254) 21,276 992,546 1,013,822	Restricted funds £ 282,214 - 282,214 293,617 5,400 - - 299,017 (16,803) 2,254 (14,549) 117,109 102,560	2022 Total funds £ 764,912 3,785 768,697 378,452 310,506 66,221 6,791 761,970 6,727 - 6,727 1,109,655 1,116,382	2021 Total funds £ 703,250 1,469 704,719 242,692 280,566 39,694 5,638 568,590 136,129 - 136,129 973,526 1,109,655

The notes form part of these financial statements

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Spicer Street Church

Balance Sheet 31 December 2022 Unrestricted funds Notes £ FIXED ASSETS Tangible assets 9 585,421 CURRENT ASSETS Debtors 10 127,570 Cash at bank 302,831 430,401 CREDITORS Amounts falling due within one year 11 (2,000) NET CURRENT ASSETS 428,401 TOTAL ASSETS LESS CURRENT LIABILITIES 1,013,822 NET ASSETS 1,013,822 FUNDS 12 Unrestricted funds Restricted funds TOTAL FUNDS	Restricted funds £ - - 102,560 102,560 - 102,560 102,560 102,560	2022 Total funds £ 585,421 127,570 405,391 532,961 (2,000) 530,961 1,116,382 1,116,382 1,013,822 102,560 1,116,382	2021 Total funds £ 585,421 110,000 416,134 526,134 (1,900) 524,234 1,109,655 1,109,655 992,546 117,109 1,109,655

The financial statements were approved by the Board of Trustees and authorised for issue on 28 March 2023 and were signed on its behalf by:

G Strain - Trustee

D J Nicholson - Trustee

The notes form part of these financial statements

Page 9

Spicer Street Church

Cash Flow Statement
for the Year Ended 31 December 2022
2022
Notes
£
Cash flows from operating activities
Cash generated from operations
1
(10,743)
Net cash (used in)/provided by operating activities
(10,743)
Cash flows from investing activities
Interest received
-
Net cash provided by investing activities
-
Change in cash and cash equivalents
in the reporting period
(10,743)
Cash and cash equivalents at the
beginning of the reporting period
416,134
Cash and cash equivalents at the end
of the reporting period
**405,391 **

2021
£
135,635
135,635
1,469
1,469
137,104
279,030
416,134

The notes form part of these financial statements

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Spicer Street Church

Notes to the Cash Flow Statement for the Year Ended 31 December 2022

1.	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
				2022	2021
				£	£
	Net income for the reporting period (as per the	Statement of
	Financial Activities)			6,727	136,129
	Adjustments for:
	Interest received			-	(1,469)
	(Increase)/decrease in debtors			(17,570)	2,524
	Increase/(decrease) in creditors			100	(1,549)
	Net cash (used in)/provided by operations			(10,743)	135,635
2.	ANALYSIS OF CHANGES IN NET FUNDS
		At 1.1.22		Cash flow	At 31.12.22
			£	£	£
	Net cash
	Cash at bank	416,134		(10,743)	405,391
		416,134		(10,743)	405,391
	Total	416,134		(10,743)	405,391

The notes form part of these financial statements

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Spicer Street Church

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

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

Spicer Street Church meets the definition of a public benefit entity under FRS 102.

Income

All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Income is accounted for when received, with the exception of income tax recoverable on gift aid donations, and interest arising on deposits which are accounted for on an accruals basis. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.Grants are recognised as a liability when the church is under an obligation to make a payment.

Governance costs

Governance costs of the charity include 5% of church office costs and all expenditure to comply with statutory and legal requirements.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 25% on cost Motor vehicles - 25% on cost

No depreciation is provided on freehold buildings. The charity adopts a policy of maintaining properties to a high standard, which prolongs their useful lives and enhances their residual value (based on prices prevailing at the time of acquisition or subsequent valuation) and accordingly the Trustees consider depreciation arising to be immaterial.

Fixed assets with a value under £10,000 are written off as expenditure in the Statement of Financial Activities.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

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Spicer Street Church

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

1. ACCOUNTING POLICIES - continued

Fund accounting

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Cash at bank and in hand

Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition. Deposits for more than three months but less than one year have been disclosed as short term deposits.

Debtors and creditors

Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material.

Creditors and provisions 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. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt.

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.The assets of the scheme are held in a separately administered fund.

The church building

The church building is considered to be an inalienable property and is therefore excluded from the accounts. No value is placed on moveable church furnishings and fittings as these are also considered part of the inalienable property. All costs during the year associated with the maintenance or improvement of such assets are written off as expenditure in the Statement of Financial Activities.

2. DONATIONS AND LEGACIES

Donations 3. INVESTMENT INCOME Rents received Deposit account interest	2022 £ 764,912 2022 £ 3,785 - 3,785	2021 £ 703,250 2021 £ - 1,469 1,469

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Spicer Street Church

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

4. CHARITABLE ACTIVITIES COSTS

Direct Costs £ Gifts to Christian causes (including support costs) 3,135 Church ministry 310,506 Establishment costs 66,221 Governance costs 6,791 386,653 5. GRANTS PAYABLE Gifts to Christian causes (including support costs) The total grants paid to institutions during the year was as follows: Restricted gifts Release International (Christmas 2021 - Egypt) Ukrainian refugees (March/April 2022): Paradox Church Slovakia Cirkev Bratska Slovakia Operation Mobilisation Bible Society Operation Mobilisation (Harvest 2022 - Yemen) Wycliffe Bible Translators ECWA Unity Church in Jos (manse purchase and repair) Open Doors (Easter 2021) Operation Mobilisation (Harvest 2021) Release International (Easter 2021) The total grants paid to individuals during the year was as follows: Gifts to Christian causes (inc support costs)	Grant funding of activities (see note 5) £ 375,317 - - - 375,317 2022 £ 375,317 2022 £ 293,617 77,531 26,875 28,091 43,140 50,000 67,680 300 - - - - 293,617 2022 £ 81,700	Totals £ 378,452 310,506 66,221 6,791 761,970 2021 £ 239,706 2021 £ 153,106 - - - - - - 17,195 35,915 64,081 35,915 153,106 2021 £ 86,600

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Spicer Street Church

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

5. GRANTS PAYABLE - continued

Belgian Bible Institute Bratislava church plant Christ Church Hemel (Dave Crouch) Crosslinks (Rick Creighton) Crosslinks (Graeme and Bequi Innes) Crosslinks (Robbie and Lizzie Bellis) Eurasian Ministries Noah Magaji (Nigeria) Oak Hill Theological College OMF - Simon and Joanna McClure OMF - John and Sian Newton Webb Redeemer Church Folkstone (Jonny Sutton) Ridgeway Church (Ian Randall) Trinity Bradford (Tom Swinney) Trinity West (Reuben Hunter) University of Herts Christian Union Winchester Church plant (Jonny Clifton) 6. TRUSTEES' REMUNERATION AND BENEFITS Trustees' salaries Trustees' pension contributions to money purchase schemes The following Elders were paid these amounts in service to the church: Stipend Pension £ £ G Strain 48,504 17,411 D Hook 41,402 10,229 P Vance 16,157 3,546 106,063 31,186	Belgian Bible Institute Bratislava church plant Christ Church Hemel (Dave Crouch) Crosslinks (Rick Creighton) Crosslinks (Graeme and Bequi Innes) Crosslinks (Robbie and Lizzie Bellis) Eurasian Ministries Noah Magaji (Nigeria) Oak Hill Theological College OMF - Simon and Joanna McClure OMF - John and Sian Newton Webb Redeemer Church Folkstone (Jonny Sutton) Ridgeway Church (Ian Randall) Trinity Bradford (Tom Swinney) Trinity West (Reuben Hunter) University of Herts Christian Union Winchester Church plant (Jonny Clifton) 6. TRUSTEES' REMUNERATION AND BENEFITS Trustees' salaries Trustees' pension contributions to money purchase schemes The following Elders were paid these amounts in service to the church: Stipend Pension £ £ G Strain 48,504 17,411 D Hook 41,402 10,229 P Vance 16,157 3,546 106,063 31,186	7,000 10,000 10,000 6,600 6,600 6,600 - 1,800 10,000 6,600 5,000 1,000 5,000 3,000 1,000 500 1,000 81,700 2022 £ 106,063 31,186 137,249 Total £ 65,915 51,631 19,703 137,249		7,000 10,000 10,000 5,600 5,600 5,600 5,000 1,800 10,000 6,000 5,000 5,000 5,000 3,000 1,000 - 1,000 86,600 2021 £ 115,619 25,759 141,378 2021 £ 62,779 48,768 29,831 141,378

In addition, the Senior Pastor has the use of the car belonging to the church.

The church's constitution authorizes the payment of remuneration to trustees.

None of the trustees received any remuneration or reimbursed expenses in their capacity as Elder.

Trustees' expenses

Trustees' expenses	2022 £ 3,488	2021 £ 2,831

The expenses relate to payments made to those Elders on the Pastoral Team who were reimbursed travelling, hospitality and book expenses.

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Spicer Street Church

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

7. STAFF COSTS

Wages and salaries Social security costs Other pension costs	2022 £ 211,397 16,819 47,412 275,628	2021 £ 205,353 14,834 39,966
		260,153

No employees received emoluments (excluding employer pension costs) in excess of £60,000.

The average monthly number of employees during the year was as follows:

Pastoral team Other No employees received emoluments in excess of £60,000. 8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 498,353 Investment income 1,469 Total 499,822 EXPENDITURE ON Charitable activities Gifts to Christian causes (including support costs) 89,586 Church ministry 277,466 Establishment costs 39,694 Governance costs 5,638 Total 412,384 NET INCOME 87,438 Transfers between funds (2,323) Net movement in funds 85,115 RECONCILIATION OF FUNDS Total funds brought forward 907,431 TOTAL FUNDS CARRIED FORWARD 992,546		2022 5 3 8 Restricted funds £ 204,897 - 204,897 153,106 3,100 - - 156,206 48,691 2,323 51,014 66,095 117,109

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Spicer Street Church

Notes to the Financial Statements - continued

for the Year Ended 31 December 2022

9. TANGIBLE FIXED ASSETS

Fixtures Freehold and property fittings £ £ COST At 1 January 2022 and 31 December 2022 585,421 30,150 DEPRECIATION At 1 January 2022 and 31 December 2022 - 30,150 NET BOOK VALUE At 31 December 2022 585,421 - At 31 December 2021 585,421 - 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 12. MOVEMENT IN FUNDS Net movement At 1.1.22 in funds £ £ Unrestricted funds General fund 407,125 23,530 St. Vincent Drive reserve 337,151 - Downes Road reserve 248,270 - 992,546 23,530 Restricted funds Fellowship fund 12,199 (5,400) Recreation fund 31,090 - Margaret Harding fund 22,014 - Other Christian causes 51,806 (11,403) 117,109 (16,803) TOTAL FUNDS 1,109,655 6,727		Motor vehicles £ 13,990 13,990 - - 2022 £ 127,570 2022 £ 2,000 Transfers between funds £ (2,254) - - (2,254) 2,254 - - - 2,254 -

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Spicer Street Church

Notes to the Financial Statements - continued

for the Year Ended 31 December 2022

12. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds General fund Restricted funds Fellowship fund Other Christian causes TOTAL FUNDS	Incoming resources £ 486,483 - 282,214 282,214 768,697	Resources Movement expended in funds £ £ (462,953) 23,530 (5,400) (5,400) (293,617) (11,403) (299,017) (16,803) (761,970) 6,727

Comparatives for movement in funds

Net
movement
At 1.1.21
in funds
£
£
Unrestricted funds
General fund
322,010
87,438
St. Vincent Drive reserve
337,151
-
Downes Road reserve
248,270
-
907,431
87,438
Restricted funds
Fellowship fund
12,976
(3,100)
Recreation fund
31,090
-
Margaret Harding fund
22,014
-
Other Christian causes
15
51,791
66,095
48,691
TOTAL FUNDS
973,526
136,129
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
499,822
Restricted funds
Fellowship fund
-
Other Christian causes
204,897
204,897
TOTAL FUNDS
704,719

Transfers
between
At
funds
31.12.21
£
£
(2,323)
407,125
-
337,151
-
248,270
(2,323)
992,546
2,323
12,199
-
31,090
-
22,014
-
51,806
2,323
117,109
-
1,109,655

Resources
Movement
expended
in funds
£
£
(412,384)
87,438
(3,100)
(3,100)
(153,106)
51,791
(156,206)
48,691
(568,590)
136,129

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Spicer Street Church

Notes to the Financial Statements - continued

for the Year Ended 31 December 2022

12. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds General fund St. Vincent Drive reserve Downes Road reserve Restricted funds Fellowship fund Recreation fund Margaret Harding fund Other Christian causes TOTAL FUNDS	At 1.1.21 £ 322,010 337,151 248,270 907,431 12,976 31,090 22,014 15 66,095 973,526	Net movement in funds £ 110,968 - - 110,968 (8,500) - - 40,388 31,888 142,856	Transfers between funds £ (4,577) - - (4,577) 4,577 - - - 4,577 -	At 31.12.22 £ 428,401 337,151 248,270 1,013,822 9,053 31,090 22,014 40,403 102,560 1,116,382

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming resources £ Unrestricted funds General fund 986,305 Restricted funds Fellowship fund - Other Christian causes 487,111 487,111 TOTAL FUNDS 1,473,416 (1	Resources Movement expended in funds £ £ (875,337) 110,968 (8,500) (8,500) (446,723) 40,388 (455,223) 31,888 ,330,560) 142,856

13. RELATED PARTY DISCLOSURES

Donations from Trustees and their related parties, including to other Christian causes under restricted funds, amounted to £63,613 during the year (2021: £57,973).

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Spicer Street Church

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

14. APPLICATION OF FUNDS

The General fund represents the free funds of the charity which are not designated for particular purposes.

The Fellowship Fund is used to express love and concern for one another and others with whom the church are in touch. From the total of the giving to the church, 0.5% of undesignated gifts is transferred to this fund.

The Margaret Harding Fund is the result of a gift to the church in 1993. Margaret Harding, the widow of Fred Harding, a former pastor of the church, asked that the funds be used 'to assist the training of those church members who feel called to enter missionary service overseas'. To date, Erik and Emma Thomson, Richard Smith, Sue Mullis and Simon and Joanna McClure have all received support for their training from this fund.

The Recreation Fund was created by a legacy to the church. The Fund exists to help people, primarily those in full-time Christian service, have holidays or leisure breaks who would otherwise not be able to afford them.

The Other Christian Causes includes collections at Easter, Harvest and Christmas which are to be allocated by the church to those in particular need.

15. INDEPENDENT EXAMINER'S FEE

A provision of £2,000 (2021: £1,900) has been made in the accounts to cover the examiner's fee for the year under review.

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