## **WOODFORD EVANGELICAL CHURCH** **31 March 2023** ## **Report and Financial Statements** **www.wec.onl** ## **WOODFORD EVANGELICAL CHURCH** ## **Report and Financial Statements 2023 Contents** ||**Page**| |---|---| |**Legal & Administrative Information**|**2**| |**Report of the Trustees**|**3**| |**Independent Examiner's report to the Trustees**|**6**| |**Statement of financial activities**|**7**| |**Balance sheet**|**8**| |**Notes to the financial statements**|**9**| 1 ## **WOODFORD EVANGELICAL CHURCH** ## **Legal & Administrative Information For the year ended 31 March 2023** |**Charity Name**|Woodford Evangelical Church.|| |---|---|---| |**Charity Registration**|1177194|| |**Governing Document**|CIO - association registered 16 February 2018 as amended on 29 November 2022.|| |**Objective**|The church’s objects are:|| ||1. To advance the Christian faith in accordance with the statement of beliefs, doctrinal|| ||distinctives and ethical statements in Woodford, Essex and the surrounding area and|| ||elsewhere as the members of the church in general meeting may from time to time think|| ||fit; and|| ||2. Such other charitable purposes as shall, in the opinion of the members of the church in|| ||general meeting, further the work of the church; provided that the advancement of such|| ||purposes must be undertaken in a manner that is consistent with the statement of beliefs|| ||as may be adopted and amended by the church from time to time in accordance with the|| ||provisions of the rules.|| |**Affiliation**|The Church is a member of the Fellowship of Independent Evangelical Churches.|| |**Principal Address**|Prospect Hall, 42 Prospect Road, Woodford Green, Essex, IG8 7NA|| |**Trustees**|The Trustees who served during the period or who were serving at the date of this report|| ||were:|| ||Jonathan Drane
Pastor
(resigned 8 June 2023)|| ||Jeremy Clifton
Elder|| ||Kong Yee Yap
Elder
(appointed 28 August 2022)|| ||Trevor Newman
Deacon|| ||Martin Lawrence
Church worker (resigned 31 August 2022)|| |**Key Management**|Those in charge of planning, directing, controlling, running and operating the Charity,|| |**Personnel**|including those members of staff who are the senior management personnel to whom the|| ||trustees have delegated significant authority or responsibility in the day-to-day running of|| ||the charity are the Trustees.|| |**Bankers**|Lloyds Bank|| ||47 High Street|| ||Brentwood|| ||Essex CM14 4RN|| |**Independent**|John Helm ACA|| |**Examiner**|Tandem Accounting|| ||17 Heathville Road|| ||London N19 3AL|| 2 ## **WOODFORD EVANGELICAL CHURCH** ## **Report of the Trustees For the year ended 31 March 2023** The Trustees submit their report and the financial statements of Woodford Evangelical Church (“the Church”) for the year ended 31 March 2023. The financial statements have been prepared in the format prescribed by the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP2019 (FRS102)) and the Financial Reporting Standard 102. The legal and administrative information set out earlier in this document forms part of this report. ## **1. Structure, Governance & Management** ## **1.1 The Trustees** The Trustees of the Church are the persons appointed as elders in accordance with the Church Constitution and are responsible for the day to day management of the Church’s business in accordance with the Church’s objects. Two of the Trustees, the Pastor and the Church Worker, received remuneration. The induction process for any newly appointed Trustee comprises an initial meeting with the trustees and receipt of copies of the Church Constitution. ## **1.2 Church Members** Church members share in the responsibility for the finances, administration, maintenance and activities of the Church and elect the Trustees. Church members meet at least 3 times per annum for business meetings and receive reports from the Trustees. Requirements for Church membership are: 1. profession of repentance towards God and faith in our Lord Jesus Christ; 2. baptism; 3. evidence of God’s grace in a consistent Christian life; 4. regular attendance at the Sunday services and midweek prayer meeting; 5. a desire to participate further in the privileges, obligations and fellowship of the church; 6. acceptance of the Articles of the church. ## **1.3 Risk Management** The Church’s primary concern and objective is the glory of God. Whilst it is the Church’s policy to trust wholly in the Lord that He will work out His purpose to this end, the Church also acknowledges that it has a responsibility, both as individual members and as a body of members, for the proper management of the Church in accordance with applicable laws and accepted good practice and for ensuring that the risks faced by the Church in achieving its primary aim are addressed as best as possible. The trustees believe that, by monitoring reserve levels, by ensuring that controls exist over key financial systems, and by examining the operational risks faced by the church, it has established effective systems and procedures to mitigate those risks. ## **2. Activities & Strategies** The Church is committed to maintaining a Gospel witness in the Woodford area of North East London and beyond. The Trustees have given due regard to the Charity Commissions’ guidance on public benefit. The Trustees believe that the Church provides benefit to the public by: - providing resources and facilities for public worship, pastoral care and spiritual, moral and educational development, both for the congregation and for anyone else who wishes to benefit from what the Church offers; - promoting Christian values and service by members of the congregation to the community, for the benefit of individuals and society as a whole. - promoting the initiation and development of additional congregations with the same ethos. During the period the Church continued to carry out the following activities in order to promote the Gospel in the local neighbourhood and fulfil its main objects: - Sunday morning and evening worship services. - Prayer meetings and home Bible studies. 3 ## **WOODFORD EVANGELICAL CHURCH** ## **Report of the Trustees For the year ended 31 March 2023** - Sunday school classes for 4-14 year olds. - Young people’s group for 5-11 year olds on Monday afternoons. - Young people’s group for 15-19 year olds on Sunday evenings. - Toddler group on Thursday mornings. - Half-term Holiday Bible Club in the school autumn term. - Christmas and Easter outreach services. - Evangelistic events. - Supporting other local evangelical churches. - Supporting a new church in a nearby district by providing financial support, alongside pastoral care and practical counsel. ## **3. Achievements and Performance** As a church we give thanks to God that He has seen fit to continue to bless our activities. ## **4. Financial Review** ## **4.1 Financial Activity and Financial Position** The Church’s main sources of funding are the free will offerings of church members. The Statement of Financial Activities and Balance Sheet can be found on pages 7 and 8 respectively. The Church’s reserves decreased by £34,718 (2022: increased by £42,878) during the year to £420,729 (2022: £455,447). Included in reserves are amounts totalling £nil (2022: £25,610) which are restricted. These monies have either been raised for, and their use restricted to, specific purposes, or they comprise donations subject to donor-imposed conditions. ## **4.2 Reserves Policy** The Trustees have examined the requirements for free reserves, i.e. those unrestricted funds not invested in tangible fixed assets. The Trustees consider that, given the nature of the church’s work, free reserves should be equivalent to approximately 3 months’ routine general fund expenditure, plus committed future expenditure on other projects, where funds permit. The Trustees are of the opinion that this provides sufficient flexibility to cover temporary shortfalls in incoming resources and will allow the church to cope and respond to unforeseen emergencies whilst specific action plans are implemented. At 31 March 2023 the church had net free reserves of £145,361 (2022: £154,100) as follows: |**Total reserves**
Less: restricted funds
Less: fixed assets used for the continuing work of the church
**Free reserves**
**Free reserves requirement:**
3 month’s budgeted routine expenditure (excluding depreciation)|**2023**|**2022**| |---|---|---| ||**£**|**£**| |||| ||**420,729**|**455,447**| ||-|(25,610)| ||(275,368)|
(275,737)| |||| |||| ||**145,361**|**154,100**| |||| |||| |||| ||**30,000**|**30,000**| |||| |||| ## **4.3 Investment policy** The church currently invests spare funds in an interest-bearing bank account. ## **4.4 Grants Policy** The Church makes gifts to support missionary endeavours both in the UK and abroad. The policy of the church is to give grants on the basis that they are subject to annual review and only renewed on the basis of meeting set criteria. In addition, the Church makes anonymous gifts, at the discretion of the Trustees, to those in need within, and outside of, the Church fellowship. 4 ## **WOODFORD EVANGELICAL CHURCH** ## **Report of the Trustees For the year ended 31 March 2023** ## **5. Plans for Future Periods** - Continue the main activities of the church; - Continue the support of the new church in a nearby area; and - Support the community through the economic difficulties of the rising cost of living by providing practical and pastoral care. ## **6. Responsibilities of Trustees for the Financial Statements** The Trustees are responsible for preparing the report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Charity law 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 its financial activities for that period. - Select suitable accounting policies and then apply them consistently; - Make judgements and estimates that are reasonable and prudent; - State whether the policies adopted are in accordance with the appropriate SORP on Accounting by Charities and the Accounting Regulations and with applicable accounting standards, subject to any material departures disclosed and explained in the financial statements; - Prepare the accounts on the going concern basis unless it is inappropriate to presume that the church will continue to operate. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enables them to ensure that the financial statements comply with the Charities Act 2011. 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. ## **7. Approval** The report of the Trustees was approved by the Trustees on 18 July 2023 and signed on its behalf by: ## **Jeremy Clifton Trustee** 5 ## **WOODFORD EVANGELICAL CHURCH** ## **Report of the Independent Examiner to the Trustees of Woodford Evangelical Church** I report on the financial statements of Woodford Evangelical Church for the period ended 31 March 2023, set out on pages 7 to 15. This report is made solely to the Church Council in accordance with section 145 of the Charities Act 2011 (the Act). My independent examination has been undertaken so that I might state to the Trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by the law, I do not accept responsibility to anyone other than the Trust and the Trustees for my independent examination, for this report, or the opinions I have formed. ## **RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER** The Church Council considers that an audit is not required for this (under section 144(2) of the Act) and that an independent examination is needed. It is my responsibility to: - Examine the accounts (under section 145 of the Act); - To follow the procedures laid down in the General Direction given by the Charity Commission (under section 145(5)(b) of the Act); and - To state whether particular matters have come to my attention. ## **BASIS OF INDEPENDENT EXAMINER’S STATEMENT** My examination was carried out in accordance with General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the Church Council concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the accounts. ## **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: 1. accounting records were not kept in respect of the 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 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. **John Helm ACA** 17 Heathville Road London N19 3AL 18 July 2023 6 ## **WOODFORD EVANGELICAL CHURCH** ## **Statement of Financial Activities For the year ended 31 March 2023** |**Note**
**Income from:**
2
Donations and legacies
Investments
**Total Income**
**Expenditure on:**
Raising funds
3
Charitable activities
4
**Total Expenditure**
Net gains/(losses) on investments
**Net income**
Transfers between funds
Other recognised gains/(losses)
**Net movement in funds**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**Funds**
**2023**
**£**
106,328
1,510
**107,838**
725
116,221
**116,946**
-
**(9,108)**
-
-
**(9,108)**
429,837
**420,729**|**Restricted**
**Funds**
**2023**
**£**
-
-
**0**
-
25,610
**25,610**
-
**(25,610)**
-
-
**(25,610)**
25,610
**0**||**Unrestricted**|**Restricted**|| |---|---|---|---|---|---|---| ||||**Total**|**Funds**|**Funds**|**Total**| ||||**2023**|**2022**|**2022**|**2022**| ||||**£**|**£**|**£**|**£**| |||||||| ||||106,328|166,895|18,821|185,716| ||||1,510|118|-|118| |||||||| |||||||| |||||||| ||||**107,838**|**167,013**|**18,821**|**185,834**| |||||||| |||||||| |||||||| |||||||| ||||725|-|-|-| ||||141,831|105,070|37,886|142,956| |||||||| |||||||| |||||||| ||||**142,556**|**105,070**|**37,886**|**142,956**| |||||||| |||||||| |||||||| ||||-|-|-|-| |||||||| |||||||| |||||||| ||||**(34,718)**|**61,943**|**(19,065)**|**42,878**| |||||||| |||||||| |||||||| ||||-|(5,000)|5,000|-| ||||-|
-|-|-| |||||||| |||||||| |||||||| ||||**(34,718)**|**56,943**|**(14,065)**|**42,878**| |||||||| ||||455,447|372,894|39,675|412,569| |||||||| |||||||| |||||||| ||||**420,729**|**429,837**|**25,610**|**455,447**| |||||||| 7 ## **WOODFORD EVANGELICAL CHURCH** ## **Balance Sheet As at 31 March 2023** |**Note**
**Fixed Assets**
Tangible Assets
5
Investments
**Current Assets**
Debtors
6
Cash at Bank and in Hand
**Creditors – Amounts Falling Due**
**Within One Year**
7
**Net Current Liabilities**
**Net Assets**
**Represented By:**
**Restricted Income Funds**
8
**Unrestricted Income Funds**
9
**Total Funds**|**Unrestricted**
**Funds**
**2023**
**£**
275,368
-
275,368
6,209
141,702
147,911
2,550
145,361
**420,729**
-
420,729
**420,729**|**Restricted**
**Funds**
**2023**
**£**
-
-
0
0
-
0
**0**
-
-
**0**||| |---|---|---|---|---| ||||**Total**|**Total**| ||||**2023**|**2022**| ||||**£**|**£**| |||||| ||||275,368|275,737| ||||-|-| |||||| ||||275,368|275,737| |||||| ||||6,209|8,680| ||||141,702|185,934| |||||| ||||147,911|194,614| |||||| ||||2,550|14,904| |||||| ||||145,361|179,710| |||||| ||||**420,729**|**455,447**| |||||| |||||| |||||| ||||-|25,610| ||||420,729|429,837| |||||| ||||**420,729**|**455,447**| |||||| The financial statements were approved by the Trustees on 18 July 2023 and signed on its behalf by: ## **Jeremy Clifton Trustee** 8 ## **WOODFORD EVANGELICAL CHURCH** ## **Notes to the Financial Statements For the year ended 31 March 2023** ## **1. Accounting Policies** The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: ## **Basis of accounting** The financial statements have been prepared under the Charities Act 2011 and in accordance with the Charities Statement of Recommended Practice (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102). The financial statements are drawn up on the historical cost basis of accounting except for the revaluation of leasehold land and buildings which are shown at fair value. The financial statements include all transactions, assets and liabilities for which the Church is responsible in law. They do not include the accounts of church groups that owe an affiliation to another body or those that are informal gatherings of church members. The Church meets the definition of a public benefit entity under FRS 102. ## **Going Concern** There are no material uncertainties about the charity’s ability to continue as a going concern and accordingly the accounts have been drawn up on a going concern basis. ## **Income recognition** Voluntary income and donations (including legacies) are accounted for once the Charity has entitlement to the income, it is probable the income will be received and the amount of income receivable can be reliably measured. Income from the recovery of tax on gift aided donations is accounted for in the period in which the relevant donation is received. The income from other trading activities includes rental income from the letting of the church manse which is accounted for when earned. It is shown gross, with the associated costs included in expenditure on fundraising. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Church; this is normally upon notification of the interest paid or payable by the bank. ## **Expenditure recognition** Expenditure is accrued as soon as a liability is considered probable, and the amount of obligation can be measured reliably. Longer term liabilities are discounted to present value. The Church is not registered for VAT and accordingly expenditure includes VAT where appropriate. Charitable expenditure includes those costs in fulfilling the Church’s principal objects, as outlined in the Report of the Trustees. These include grants payable and governance costs: - Grants/gifts payable are payments made to third parties in furtherance of the Church’s objects. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the grant. Grants awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant is outside of the control of the Church. - Governance costs comprise all costs involving the public accountability of the Church and its compliance with regulation and good practice. These costs include costs related to the independent examination and legal fees. ## **Taxation** As a charity, the Church is exempt from tax on income and gains falling within the provisions of the Corporation Taxes Act 2010 or the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen on the Church. 9 **WOODFORD EVANGELICAL CHURCH** ## **Notes to the Financial Statements For the year ended 31 March 2023** ## **1. Accounting Policies (continued)** ## **Fixed Assets** Depreciation is provided to write off the cost, less estimated residual values, of all tangible fixed assets evenly over their expected useful lives. It is calculated at the following rates: Fixtures and fittings - 25% per annum straight line Leasehold property - nil Depreciation is not provided as the estimated residual value is considered to be the same or higher than the carrying value of the property in the accounts. The leasehold property is stated at fair value. ## **Debtors** Debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid. ## **Cash at bank and in hand** Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of opening of the deposit. ## **Creditors and provisions** Creditors and provisions are recognised where the charity has a present obligation arising 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 recognised at their settlement amount. Provisions have been calculated at the best estimate of the settlement amount and discounted to present value at the reporting date. ## **Fund accounting** The funds held by the charity are either: - Unrestricted general funds – these are funds which can be used in accordance with the charitable objects at the discretion of the trustees. - Restricted funds – these are funds that 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. ## **2. Income** |**Unrestricted**
**Funds**
**2023**
**£**
**Restricted**
**Funds**
**2023**
**£**
Donations and legacies
Offerings and donations
99,929
-
Income tax reclaimed
6,399
-
106,328
0
Investment income
Rental income
1,500
-
Bank interest
10
-
1,510
0
**107,838**
**0**||| |---|---|---| ||**Total**|**Total**| ||**2023**|**2022**| ||**£**|**£**| |||| ||99,929|177,007| ||6,399|8,709| |||| ||106,328|185,716| |||| ||1,500|-| ||10|118| |||| ||1,510|118| |||| ||**107,838**|**185,834**| |||| 10 **WOODFORD EVANGELICAL CHURCH** ## **Notes to the Financial Statements For the year ended 31 March 2023** ## **3. Expenditure: Raising Funds** |Cost of running Baddow Close
Investment Management Fees|**Unrestricted**
**Funds**
**2022**
**£**
**Restricted**
**Funds**
**2022**
**£**
660
-
65
-
**725**
**0**||||**Total**
**2021**
**£**
1,000
3,353| |---|---|---|---|---|---| |||**Total**|||| |||**2022**|||| |||**£**|||| ||||||| |||660|||| |||65|||| ||||||| ||||||**4,353**| |||**725**|||| ||||||| ||||||| ## **4. Expenditure on Charitable Activities** |
Provision of Pastors
Church Life & Outreach
Church Plant
Missionary & Charitable Giving
Provision of Office & Support
Provision of Buildings and Facilities
Governance|**Unrestricted**
**Funds**
**2023**
**£**
46,112
7,746
-
25,412
876
35,045
1,030
**116,221**|**Restricted**
**Funds**
**2023**
**£**
-
-
-
25,610
-
-
-
**25,610**|||| |---|---|---|---|---|---| ||||**Total**||**Total**| ||||**2023**||**2022**| ||||**£**||**£**| ||||||| ||||46,112||64,281| ||||7,746||4,581| ||||-||23,805| ||||51,022||26,336| ||||876||1,152| ||||35,045||22,016| ||||1,030||785| ||||||| ||||||| ||||**141,831**||**142,956**| ||||||| ||||||| One Trustee received £582 (2022: £882) in reimbursement for costs incurred on church business (including travel and subsistence, homeworking allowance, and the purchase of books). ## **4a. Staff Costs** Expenditure on charitable activities includes the following payroll costs in respect of 3 employees: |Wages and salaries
Employer’s National Insurance
Pension costs
Of which the following gross salaries were in relation
to Key Management Personnel:|**Unrestricted**
**Funds**
**2023**
**£**
43,822
503
1,315
**45,640**
**43,822**|**Restricted**
**Funds**
**2023**
**£**
-
-
-
**0**
**0**||||**Total**
**2022**
**£**
59,390
1,780
1,757| |---|---|---|---|---|---|---| |||||**Total**||| |||||**2023**||| |||||**£**||| |||||||| |||||43,822||| |||||503||| |||||1,315||| |||||||| |||||||**62,927**| |||||**45,640**||| |||||||| |||||||**59,930**| |||||||| |||||**43,822**||| |||||||| |||||||| No employee received remuneration in excess of £60,000 during the period. 11 **WOODFORD EVANGELICAL CHURCH** ## **Notes to the Financial Statements For the year ended 31 March 2023** ## **4. Expenditure on Charitable Activities (continued)** ## **4b. Missionary & Charitable Giving.** Expenditure on charitable activities includes the following missionary and charitable giving: |**Unrestricted**
**Funds**
**2023**
**£**
**To Organisations**
Equipping Pastors Worldwide
5,004
International Mission to Jewish People
1,275
All Nations Church Barkingside and Clayhall
3,000
Christian Union Outreach
200
Child Evangelism Fellowship of Great Britain
1,172
Child Evangelism Fellowship of East London
10,673
Restoration of Hope, Burundi
2,040
Salt Church, Spain
1,700
**To Individuals**
348
**25,412**|**Restricted**
**Funds**
**2023**
**£**
-
-
25,610
-
-
-
-
-
-
**25,610**||||**Total**
**2022**
**£**
5,004
1,700
5,000
-
1,110
-
1,700
500| |---|---|---|---|---|---| ||||**Total**||| ||||**2023**||| ||||**£**||| ||||||| ||||5,004||| ||||1,275||| ||||28,610||| ||||200||| ||||1,172||| ||||10,673||| ||||2,040||| ||||1,700||| ||||348||| ||||||| ||||||**26,336**| ||||**51,022**||| ||||||| ||||||| ## **4c. Net Income** Net income is stated after charging: |
**Unrestricted**
**Funds**
**£**
**Restricted**
**Funds**
**£**
Depreciation
369
-
Independent examination
995
-||**Total**||**Total**| |---|---|---|---|---| |||**2023**||**2022**| |||**£**||**£**| |||||| |||369||368| |||995||750| |||||| 12 **WOODFORD EVANGELICAL CHURCH** ## **Notes to the Financial Statements For the year ended 31 March 2023** ## **5. Tangible Fixed Assets** |

**Cost**
At 1 April 2022
Additions
Disposals
At 31 March 2023
**Depreciation**
At 1 April 2022
Charge for period
Disposals
At 31 March 2023
**Net Book Value**
At 31 March 2023
At 31 March 2022|**Leasehold**
**land &**
**building**
**£**
**Fixtures,**
**fittings &**
**equipment**
**£**
275,000
28,885
-
-
-
-
275,000
28,885
-
28,148
-
369
-
-
-
28,517
275,000
368
275,000
737||| |---|---|---|---| ||||| ||||**Total**| ||||**£**| ||||| ||||303,885| ||||-| ||||-| ||||| ||||303,885| ||||| ||||| ||||28,148| ||||369| ||||-| ||||| ||||28,517| ||||| ||||| ||||275,368| ||||| ||||275,737| ||||| ## **6. Debtors** |Gift Aid receivable
Other debtors||**2023**||**2022**
**£**
8,680
-| |---|---|---|---|---| |||**£**||| |||||| |||5,979||| |||230||| |||||| |||||**8,680**| |||**6,209**||| |||||| |||||| ## **7. Creditors – Amounts Falling Due Within One Year** |
Accruals
Other creditors||**2023**||**2022**| |---|---|---|---|---| |||**£**||**£**| |||||| |||2,295||1,100| |||255||13,804| |||||| |||**2,550**||**14,904**| |||||| 13 ## **WOODFORD EVANGELICAL CHURCH** ## **Notes to the Financial Statements For the year ended 31 March 2023** ## **8. Restricted Funds** |**8a Current year**
Clayhall & Barkingside Plant Initiative
**8b Prior year**
Clayhall & Barkingside Plant Initiative
Barnabas Harvest 21
Barnabas Christmas 21
Ray Lodge Mission
Open Doors 2023||**At 1**
**April**
**2022**
**£**
25,610
**25,610**|**Income**
**£**
**Expenditure**
**£**
**Transfers**
**£**
-
(25,610)
-
**0**
**(25,610)**
**0**|**Income**
**£**
**Expenditure**
**£**
**Transfers**
**£**
-
(25,610)
-
**0**
**(25,610)**
**0**|**Income**
**£**
**Expenditure**
**£**
**Transfers**
**£**
-
(25,610)
-
**0**
**(25,610)**
**0**|**Income**
**£**
**Expenditure**
**£**
**Transfers**
**£**
-
(25,610)
-
**0**
**(25,610)**
**0**|**Gains/**
**(losses)**
**£**
-
**0**||**At 31**| |---|---|---|---|---|---|---|---|---|---| ||||||||||**March**| ||||||||||**2023**| ||||||||||**£**| ||||||||||| ||||||||||0| ||||||||||| ||||||||||**0**| ||||||||||| |||**At 1**
**April**
**2021**
**£**
**Income**
**£**
**Expenditure**
**£**
**Transfers**
**£**
26,689
17,727
(23,806)
5,000
0
342
(342)
-
0
381
(381)
-
12,986
-
(12,986)
-
0
371
(371)
-
**39,675**
**18,821**
**(37,886)**
**5,000**|||||**Gains/**
**(losses)**
**£**
-
-
-
-
-
**0**||| |||**At 1**
**April**
**2021**
**£**
26,689
0
0
12,986
0
**39,675**|||||||**At 31**| ||||||||||**March**| ||||||||||**2022**| ||||||||||**£**| ||||||||||| ||||||||||25,610| ||||||||||0| ||||||||||0| ||||||||||0| ||||||||||0| ||||||||||| ||||||||||**25,610**| ||||||||||| The transfer of £5,000 from unrestricted to restricted is a gift from the church to the Clayhall & Barkingside Plant Initiative. Descriptions of the funds are: **Clayhall & Barkingside Plant Initiative:** Funds received for the church plant initiative in Clayhall and Barkingside. **Ray Lodge Mission** : Funds received for the work of the Ray Lodge Mission outreach. **Open Doors 2023:** Special collection for the work of the mission organisation. **Barnabas Harvest 21:** Special collection at harvest time for the work of the mission organisation. **Barnabas Christmas 21:** Special collection at Christmas time for the work of the mission organisation. 14 ## **WOODFORD EVANGELICAL CHURCH** ## **Notes to the Financial Statements For the year ended 31 March 2023** ## **9. Unrestricted Funds** |**9a Current year**
General
Designated – tithe of sale of manse
Designated – emergency fund
**9b Prior year**
General
Designated – tithe of sale of manse
Designated – emergency fund||**At 1**
**April**
**2022**
**£**
428,187
650
1,000
**429,837**|**Income**
**£**
**Expenditure**
**£**
**Transfers**
**£**
107,838
(116,946)
-
-
-
-
-
-
-
**107,838**
**(116,946)**
**0**|**Income**
**£**
**Expenditure**
**£**
**Transfers**
**£**
107,838
(116,946)
-
-
-
-
-
-
-
**107,838**
**(116,946)**
**0**|**Income**
**£**
**Expenditure**
**£**
**Transfers**
**£**
107,838
(116,946)
-
-
-
-
-
-
-
**107,838**
**(116,946)**
**0**|**Income**
**£**
**Expenditure**
**£**
**Transfers**
**£**
107,838
(116,946)
-
-
-
-
-
-
-
**107,838**
**(116,946)**
**0**|**Gains/**
**(losses)**
**£**
-
-
-
**0**||**At 31**| |---|---|---|---|---|---|---|---|---|---| ||||||||||**March**| ||||||||||**2023**| ||||||||||**£**| ||||||||||| ||||||||||419,079| ||||||||||650| ||||||||||1,000| ||||||||||| ||||||||||**420,729**| ||||||||||| |||**At 1**
**April**
**2021**
**£**
**Income**
**£**
**Expenditure**
**£**
**Transfers**
**£**
364,444
167,013
(101,170)
(2,100)
7,450
-
(3,400)
(3,400)
1,000
-
(500)
500
**372,894**
**167,013**
**(105,070)**
**(5,000)**|||||**Gains/**
**(losses)**
**£**
-
-
-
**0**||| |||**At 1**
**April**
**2021**
**£**
364,444
7,450
1,000
**372,894**|||||||**At 31**| ||||||||||**March**| ||||||||||**2022**| ||||||||||**£**| ||||||||||| ||||||||||428,187| ||||||||||650| ||||||||||1,000| ||||||||||| ||||||||||**429,837**| ||||||||||| The net transfer of £5,000 from unrestricted to restricted is a gift from the church to the Clayhall & Barkingside Plant Initiative. The designated fund – tithe sale of manse was set up to recognise the church’s commitment to gifting 10% of the sale proceeds of the manse to worthy causes in furtherance of the church’s objects. The church committed to spending the £10k designated fund by supporting two mission projects over three years (2022-2023): Philip Amos, Christian Witness to Israel and Lynne and Andy Neale, mission amongst ex-pats in Southern Spain. ## **10. Related Party Transactions** Jon Drane, a Trustee, received gross remuneration of £38,566 (2022: £36,810) and pension contributions of £1,157 during the period in respect of his services as Pastor. All Trustees were also Trustees of Woodford Community Centre (charity registration no 1171494) during the year. Woodford Evangelical Church paid £18,000 (2022: £18,000) rent in the period to Woodford Community Centre. The Trustees donated £9,139 towards the work of the church in 2022/23. 15