**Silverton Evangelical Church School Road Silverton Devon EX5 4JH** 


## **SILVERTON EVANGELICAL CHURCH REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023** 

Web: http://www.silvertonevangelicalchurch.org.uk/ Registered Charity No: 

1177666 



## **SILVERTON EVANGELICAL CHURCH** 

## **YEAR ENDED 31 DECEMBER 2023** 

|**CONTENTS**||
|---|---|
||**Page**|
|Legal and Administrative Information|1|
|Trustees' Annual Report|2-5|
|Independent Examiner's Report|6|
|Statement of Financial Activities|7-8|
|Balance Sheet|9|
|Notes to the Accounts|10-14|





## **SILVERTON EVANGELICAL CHURCH** 

## **LEGAL AND ADMINISTRATIVE INFORMATION** 

## **YEAR ENDED 31 DECEMBER 2023** 

|**CHARITY NUMBER**|1177666|
|---|---|
|**ADDRESS**|School Road|
||Silverton|
||Exeter|
||EX5 4JH|
|**TRUSTEES**|T Browne|
||R Carne|
||N Maylan|
||R Salisbury (Chair)|
|**KEY MANAGEMENT**|A Mathers|
||Church Leader and Community Worker|
|**BANKERS**|Barclays Bank Plc|
||3 Bedford Street|
||Exeter|
|**SOLICITORS**|Gilbert Stephens LLP|
||15-17 Southernhay East|
||Exeter|
||EX1 1QE|
|**INDEPENDENT EXAMINER**|Dane Bradley-Carter BSc FIAP|



1 



## **SILVERTON EVANGELICAL CHURCH** 

## **TRUSTEES’ ANNUAL REPORT** 

## **FOR THE YEAR ENDED 31 DECEMBER 2023** 

The Trustees present their report together with the financial statements for the year ended 31 December 2023. 

The financial statements have been prepared in accordance with the accounting policies set out on pages 10 and 11 and comply with the Church Constitution, the Charities Act 2011 and the requirements of the Statement of Recommended Practice "Accounting and Reporting by Charities" (FRS 102). The legal and administrative information set out on page 1 forms part of this report. 

## **Objectives and Policies** 

The principal purpose of the Church is the advancement of the Christian faith through preaching and teaching of the Gospel and by supporting mission at home and overseas. The Church Constitution is supported by a Core Values document which sets out our vision as "We are a family of Christians worshipping God, enabled by the Holy Spirit to follow Jesus.  We are committed to growing in maturity together in Christ through the study of the bible and prayer.  In our daily lives we desire to share God's love, reaching out  in  service  to  our  local  community  and  beyond".   In  planning  our  activities,  we consider the  Charity  Commission’s  guidance  on public  benefit and in particular,  the specific guidance on charities for the advancement of religion. 

## **Organisation and Structure** 

The Church is overseen by Trustees who are all members of the Church. New Trustees are nominated by the membership and their appointment, for a three year term, is voted upon by the members at the AGM. There is a minimum requirement of 3 Trustees and no maximum limit. At the end of their term of appointment a Trustee may be reappointed at the AGM. 

The Church operates a membership.  Individuals apply to join and they are visited by two Church members who report to the next Ministry Team  meeting and the Trustees and, if their application is  supported,  they are normally welcomed as a member at the next Church service.  Our membership is stable at around 60, with a few new members welcomed during the year, and almost 20 children in member families. 

The spiritual activities of the Church are delegated by the Trustees to a Ministry Team of four who are drawn from the Church membership.  New Ministry Team members are approached by the Trustees and if they agree to serve in this role, and are recognised and ratified at the following Church meeting, then they serve the Church as long as their endorsement is not rescinded by a Church meeting.  The Ministry Team normally meet on a monthly basis to consider the life of the Church. 

The activity of the Church is broken down into various areas and teams drawn from the Church  membership  exist to develop each area.   The teams  responsible  for Sunday services,  home  groups,  prayer,  pastoral  care, children and young  people's activities, community action and mission are led by the Ministry Team. A Care Team of seven, including three of the Ministry Team continued to serve the church membership. 

Other activities  including finance, building management, communication, website management, the relationship with hirers of our church building and sundry practical issues are led by five other members who, along with two of the Ministry Team, form the Resources Team. This team meets bi-monthly.  A Finance Team of four members meet at least quarterly and two of their members serve on the Resources Team. 

There are 17 church members serving in these formal teams and many others are also involved  in  teaching  the  young  people  on  a Sunday  morning  and  supporting  Messy Church. There are  numerous other groups who serve the church in practical ways, often on a rota basis. 

The Church holds an Annual General Meeting and typically one other Church members’ meeting each year to discuss the activity of the Church and these are very well attended. 

2 



## **SILVERTON EVANGELICAL CHURCH** 

## **TRUSTEES’ ANNUAL REPORT** 

## **FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **Achievements and Plans** 

Our weekly Sunday morning service is a focus for our worship, teaching, prayer and fellowship. The number of people attending this year has increased, regularly exceeding 40 adults plus up to 20 young people. As some people are unable to attend each week we continue to record the teaching material and upload it to our website as often as possible. On many occasions the whole service is recorded and made available on our private Church WhatsApp group. 

We had a full programme of activities over the Christmas period and we were delighted that so many people joined us for the Candlelight Carol Service that the hall at the rear of the meeting room was very full. 

The Care Team continued to support a  number of people who were unable to get to a Sunday  service.  This  included  regular  visits  at  home  including  sometimes  taking communion to them. The monthly Pop Up Café on a Tuesday morning continues with normally well over 20 people attending, This includes Church members plus other people from the village. We have a great team supporting this activity. 

Our homegroups continued to be an important part of our Church life. The groups had been very stable for several years. A questionnaire was sent to all church members asking about our homegroups. This led to some changes in the groups people attended and a new ladies only day time group, with provision for young children, was introduced. There is another day time group and three evening groups. It was also discovered that men  wanted  to  connect  together  so  Men  Allowed  was  established.  They  started  by meeting socially each month and there are plans for more activities in the group. 

Last year we mentioned we wanted to develop our ministry for young people. A special church meeting determined that we wanted to recruit an employee for 16 hours a week to lead this work. As we had a deficit budget for the year we established a plan to seek external funding of at least £5,000 for the first year and we asked church members to pledge the same amount for 2 years. We were delighted when church members’ pledges exceeded  £5,000  a  year  and  were  so  grateful  to  the  Parish  Council,  The  Richards Educational Trust and the Silverton Parochial Trust for their financial support to cover the balance for the first year. We were delighted when Kayleigh Duke, a Church member applied for the post. She passed a rigorous interview process, chaired by a specialist in the field from the South West Baptist Association and commenced her employment in September. 

The  young  people  had  a  great  weekend  away  at  the  Christian  Activity  Centre  in Georgham, North Devon.  The two Friday evening young people’s clubs continued to be very  popular  with  high  levels  of  attendance.  Kayleigh  is  starting  to  take  over  the leadership of these groups from Andy. She has also set up a Friday evening group on the alternate  Fridays  in  a  church  member’s  home  where  they  have  fun  together  in  an environment where they can discuss issues of faith as well as the challenges they face growing up. To support  younger children, we continued a monthly Monday Messy Church after school. This is popular with the church families and a growing number of other families in the village. The baby group for new mothers continued to meet each Friday morning with new mums joining who often  stay on to join the popular parent/carer and toddler group which meets later in the morning. 

Another highlight of the year was our church weekend away at Hill House. A group stayed in the house for the weekend while a similar number joined us for Saturday. We had good teaching and fellowship  which included a BBQ at the end of Saturday. 

We  held  funeral  services for two of our church  members.  While  it was a sad  time, particularly for the families involved, it was great to celebrate lives well lived and the hope that we have for eternity. 

**SILVERTON EVANGELICAL CHURCH** 

3 



## **TRUSTEES’ ANNUAL REPORT** 

## **FOR THE YEAR ENDED 31 DECEMBER 2023** . 

## **Plans for the coming year** 

The Trustees and Ministry Team believe that with the changes which took place in 2023 it will be good to focus on letting these settle although a three evening course called Hope Explored took place in the new year. 

## **Financial Review** 

The majority of our income comes from regular monthly donations from our members. Our unrestricted  offerings, including gift aid refunds and one individual gift of £3,000, reduced to £60,701 from £63,144 in 2022. However we also received a very generous legacy  of  £10,000  taking  our  income  to  £70,701.  Other  gifts  and  sundry   income, including rental income  reached  £3,789 (£2,380  in  2022). This  generated  total unrestricted income, excluding the weekend away income of £74,490 (2022 £65,524).  In addition, as mentioned above, we engaged a part time youth worker and raised income from the church of £8,575 plus we received very supportive grants from Silverton village organisations of £3,500. Expenditure was only £4,475 so £7,600 was carried forward into 2024 

Total unrestricted expenditure, excluding the weekend away costs was £56,928 (2022 £51,252) including a depreciation charge of £3,295 (2022 £3,225). This also included mission giving to other charities and individuals engaged in Christian service of £4,964 (2022 £5,993) 

This created an unrestricted cash surplus for the year, after excluding the depreciation charge of £20,346 which is a very encouraging outcome. However it is very important that this continues as, after allowing for an interest charge of £1,774 then £13,226 was used to reduce the loan from SWBA to purchase the Church manse. We are due to continue to pay £15,000 each year until August 2030. It is encouraging to see the total of these repayments dropped to £100,000 at the end of the year.  At the year end we had £34,535 held in bank accounts and a further £9,165 was due from HM Revenue and Customs under the gift aid scheme. The legacy of £10,000 was received in January 2024. 

## **Reserves Policy** 

The church receives most of its income monthly from its members therefore our income is relatively consistent throughout the year. However gift aid is an important element and this is normally claimed once a year and received early in the following year. It is the policy  of  the  Church  to  maintain  general  reserves  of  at  least  two  months’  normal expenditure  which includes monthly loan repayments.  This is calculated at £10,000. Total assets held as unrestricted funds at the year end were £523,734 but most of this is invested in the church building and manse so cannot be spent. We also have various fixtures,  fittings  and  equipment totalling  just over £20,000.  The gift aid debtor and legacy very closely match the current year creditors therefore only cash of £34,535 is regarded as free reserves. This is reduced to £26,424 when the restricted reserves  (see note  4) are  excluded.  This is also reduced  by  the  designated  reserve  of £5,000  to contribute to planned building refurbishment work (see note 3) to £21,424. 

The Finance Team produce an annual budget based upon the level of regular monthly income receivable and anticipated annual expenditure. For 2024 this budget shows a cash deficit of over £5,000 excluding the designated expenditure.  If this is deducted from the free cash reserves the balance is approaching £16,000 which exceeds the reserves policy requirement by £6,000 and the trustees are considering how this may be utilised. 

## **Investment Policy** 

The Finance Team have considered the most appropriate policy for investing any funds that will not be used for the day to day activities of the Church.  As they are quite modest they are held in Barclays Bank accounts with the bulk of the funds held in an interest bearing deposit account. 

4 



## **SILVERTON EVANGELICAL CHURCH TRUSTEES’ ANNUAL REPORT** 

## **FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **Safeguarding** 

We take the care of children and vulnerable adults very seriously. Our safeguarding policy is based upon a model document prepared by the Baptist Union. This was updated during the year so our safeguarding team updated the church policy. The process of carrying  out  DBS  checks  and  training  is  an  ongoing  process  as  new  people  take responsibility for church activities. 

## **Risk Review** 

The Trustees and Resources Team examine the major risks that the Church faces each financial year. These are brought to the attention of the Church Membership at either the AGM or additional Church Meetings. 

## **Trustees' Responsibilities** 

Charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the financial position of the charity during the year and of its financial position at the end of the year.  In preparing those financial statements, the Trustees follow best practice and: 

- select suitable accounting policies and apply them consistently; 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable accounting standards and statements of recommended practice 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 operation. 

The Trustees are responsible for keeping proper accounting records which disclose with reasonable  accuracy  the  financial  position  of the  charity  and  which enable  them to ascertain their financial position and to ensure that the financial statements comply with the  Charities  Act  2011  and  regulations  thereunder.   They  are  also  responsible  for safeguarding the assets of the charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

## **N BEHALF OF THE TRUSTEES** 

Rob Salisbury 

………………………. **Robert Salisbury Chairman** 

**Date:  23[rd] April 2024** 

5 



## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES AND MEMBERS OF** 

## **SILVERTON EVANGELICAL CHURCH** 

I report on the accounts of the Church for the year ended 31 December 2023, which are set out on pages 7 to 14. 

## **Respective Responsibilities of Trustees and Examiner** 

The charity’s Trustees are responsible for the preparation of the financial statements.  The charity’s Trustees consider that an audit is not required for this year under (under Section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is required. 

It is my responsibility to: 

- 

   - Examine the financial statements under Section 145 of the 2011 Act; 

- To follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and 

- 

To state whether particular matters have come to my attention. 

## **Basis of Independent Examiner’s Report** 

My examination was carried out in accordance with the General Directions given by the Charity Commissioner.  An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It  also  includes  consideration  of  any  unusual  items  or  disclosures  in  the  financial statements and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the financial statements present a “true and fair view” and the report is limited to those matters set out in the statements below. 

## **Independent Examiner’s Statement** 

In connection with my examination, no matter has come to my attention: 

(i) which  gives me  reasonable  cause  to believe  that,  in  any  material  respect,  the requirements: 

   - to keep accounting records in accordance with Section 130 of the 2011 Act; and 

   - to prepare financial statements which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met, or 

- (ii) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached. 

**Dane Bradley-Carter BSc FIAP                                                   Date  19 October 2024** 

6 



## **SILVERTON EVANGELICAL CHURCH STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2023** 

|||**Restricted**||**Total**|**Restricted**||**Total**|
|---|---|---|---|---|---|---|---|
||||**Unrestrict**|**Funds**||**Unrestrict**|**Funds**|
||||**ed**|||**ed**||
|||**Funds**|**Funds**|**2023**|**Funds**|**Funds**|**2022**|
||**Note**|**£**|**£**|**£**|**£**|**£**|**£**|
|**INCOME**||||||||
|**Donations**||||||||
|Oferings and donations<br>One of donation||7,419|49,18<br>9|56,60<br>8|500<br>-|53,889<br>-|54,389<br>-|
||||3,00|3,00||||
|||-|0|0||||
|Tax refunds||1,15|8,51|9,66|-|9,255|9,255|
|Grants and legacies||6|2|8|-|-|-|
|||3,50|10,00|13,50||||
|||0|0|0||||
|||________|_______|________||______|______|
||||||______|||
|||12,07|70,701|82,776|50|63,14|63,644|
|||5|||0|4||
|**Investments**||||||||
|Bank Interest||-|30|303|-|2|28|
|Rental income||-|3|1,397|-|8|1,310|
||||1,39|||1,310||
||||7|||||
|||________|________|_____|________|________|________|
|||12,075|72,401|84,476|500|64,482|64,982|
|**Charitable Activities**||||||||
|Other income||-|2,089|2,089|-|1,042|1,042|
|Week end away||-|5,125|5,125|-|13,718|13,718|
|||________|________|________|________|________|________|
|**TOTAL INCOME**||12,075|79,61|91,690|500|79,242|79,74|
||||5||||2|
|||________|________|________|________|________|________|
|**EXPENDITURE ON**||||||||
|**CHARITABLE ACTIVITIES**||||||||
|Missionary and charitable donations|7||4,964|4,96|500|5,993|6,493|
|||||4||||
|**Employment Costs**||||||||
|Salary||3,800||29,50|-|24,750|24,750|
||||25,700|0||||
|Pension||-|2,67|2,67|-|3,03|3,035|
|Training|||9|9|-|5|44|
|||512|36|87||44|2|
||||4|6||2||
|Housing costs|||2,87|2,87|-|2,431|2,431|
||||7|7||||
|House repairs||-|3,34|3,34|-|802|802|
||||7|7||||
|Travel and reimbursed expenses||163|80|80|-|787|787|
||||2|2||||
|**Church Building Expenses**||||||||
|Light and heat||-|2,46|2,46|-|1,695|1,695|
||||4|4||||
|Water rates||-|32|32|-|360|360|
||||4|4||||
|Insurance||-|80|80|-|715|715|
||||0|0||||
|Repairs and renewals||-|2,32|2,32|-|1,368|1,368|
||||4|4||||
|Depreciation||-|3,29|3,29|-|3,225|3,255|
||||5|5||||
|**Administration expenses**||||||||
|Speaker gifts|||63|63|-|38|380|
||||5|5||0||
|Training|||55|55|-|||
||||5|5||||
|Children teaching materials||-|24|24|-|25|253|



7 



||||3||3||||3||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Leadership training costs||-|||-||-|||170||170|
||||-||||||||||
|Printing and literature||-||34|34||-|||420||420|
||||3||3||||||||
|Subscriptions & DBS checks||-||1,06|||-|||1,104||1,104|
|Youth work costs<br>IT expenditure||-|5<br> <br>3<br> <br>4|43<br>88|1,065<br>43<br>3<br>88<br>4|<br>|<br>|-<br>-|<br>|262<br>-|<br>|262<br>-|
|Church events||-||-|-||-|||96||96|
|Telephone and internet costs||-||47|47||-|||432||432|
||||2||2||||||||
|Sundry costs||-||34|34||-|||286||286|
||||1||1||||||||
|Website||-||24|243||-|||243||243|
||||3||||||||||
|Week ends away|||||5,636||392|||13,650||14,042|
|||-||5,63|||||||||
||||6||||||||||
|Loan interest||-||1,77|1,774||-|||2,003||2,003|
||||4||||||||||
|**TOTAL EXPENDITURE**||4,47|||67,039|||8||64,90||65,79|
||5|||62,56||92|||2||4||
||||4||||||||||



## **SILVERTON EVANGELICAL CHURCH STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2023** 

|||**Restricted**|**Unrestricted**|**Total Funds**|**Total Funds**|**Restricted   Unrestricted**|**Restricted   Unrestricted**|**Restricted   Unrestricted**|
|---|---|---|---|---|---|---|---|---|
|**Total Funds**|||||||||
|||**Funds**|**Funds**||**2023**||**Funds**<br>|**Funds**|
|**2022**|||||||||
|||**£**||**£**||**£**|**£**|**£**|
|**£**|||||||||
||**Note**||||||||
|NET INCOME/EXPENDITURE||7,600|17,051|||(392|14,340||
|||||24,651|)|||13,948|
|TRANSFERS|**4**|(500)|500||||-||
||||||-<br>|-||-|
|**TOTAL FUNDS**|||||||||
|**BROUGHT FORWARD**||1,001|506,183|||1,393|491,843|493,236|
|||||507,184|||||
|||_________|_________|_________||______|________|________|
|**TOTAL FUNDS**|||||||||
|**CARRIED FORWARD**||8,101|523,734|531|,83|1,001|506,183|507,18|
|||||5||||4|
|||________|________|________||_______|________|________|



8 



## **SILVERTON EVANGELICAL CHURCH BALANCE SHEET AS AT 31 DECEMBER 2023** 

|**Note**<br>**£**<br>**FIXED ASSETS**<br>**Tangible Fixed Assets**<br>**2**<br>**CURRENT ASSETS**<br>Gift Aid refunds<br>Legacy<br>9,848<br>10,000<br>Debtors and Prepayments<br>690<br>**Cash at bank:**<br>Deposit<br>29,449<br>Current<br>5,086<br>_________<br>55,073<br>_______<br>**CREDITORS amounts falling due**<br>**within one year**<br>Accruals<br>Loans<br>Loan South West Baptist Association<br>2,195<br>4,000<br>13,455<br>_______<br>19,650<br>_______<br>**NET CURRENT ASSETS**<br>**TOTAL  ASSETS  LESS  CURRENT**<br>**LIABILITIES**<br>**CREDITORS  amounts  due  more**<br>**than one year**<br>Loan South west Baptist Association<br>**TOTAL ASSETS**<br>**FUNDS**<br>Unrestricted Funds<br>Designated Funds:<br>**3**<br>Restricted Funds<br>**4**|**2023**<br>**£**<br>**£**<br>577,284<br>9,165<br>-<br>550<br>26,110<br>3,758<br>_________<br>39,583<br>_______<br>2,284<br>-<br>13,226<br>_______<br>15,510<br>_______<br>35,423<br>________<br>612,707<br>80,872<br>_________<br>531,835<br>________<br>518,734<br>5,000<br>________<br>523,734<br>8,101<br>________<br>531,835<br>|**2022**<br>**£**<br>577,438<br>24,073<br>________<br>601,511<br>94,327<br>__________<br>507,184|
|---|---|---|
|||________<br>501,183<br>5,000<br>________<br>506,183<br>1,001<br>________<br>507,184<br>|



The notes on pages 10-14 form an integral part of these accounts. These accounts were approved by the trustees on 23[rd] April 2024  and signed on their behalf by 

Rob Salisbury… **Robert Salisbury** 

9 



## **SILVERTON EVANGELICAL CHURCH NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2023** 

## **1. ACCOUNTING POLICIES** 

The financial statements have been prepared under the historic cost convention except for the freehold property which has been included in the accounts at its deemed cost  as determined by the Trustees as set out in Note 2. The financial statements have also been prepared in accordance with applicable accounting standards,  the  Charities  Act  2011,  the  Statement  of  Recommended  Practice: "Accounting  and  Reporting  by  Charities"  (FRS102)  and  Financial  Reporting Standard 102 (FRS102). 

The accounts 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 the  main 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. 

The financial statements have been prepared on a going concern basis as there are no material uncertainties about the charity's ability to continue operating. 

## **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** 

Creditors 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 are recognised at their settlement amount. 

## **Financial Instruments** 

The charity only has financial assets and liabilities of a kind that qualify as basic financial  instruments.  Basic  financial  instruments  are  initially  recognised  at transaction value and subsequently measured at their settlement value. 

## **Incoming Resources** 

## _**Voluntary Income**_ 

Collections are recognised when received by or on behalf of the Church. 

## _**Investment Income**_ 

Interest entitlements are accounted for as they accrue. 

## _**Resources Used**_ 

Expenditure is included on an accruals basis. 

10 



## **SILVERTON EVANGELICAL CHURCH NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2023** 

## **1. ACCOUNTING POLICIES (continued) Incoming Resources (continued)** 

## _**Depreciation**_ 

No depreciation is provided on the freehold property. It is the Church's policy to regularly incur expenditure on the maintenance and improvement of the property. The Trustees consider that the life of the asset is so long and its residual value is so high that the depreciation is insignificant. 

Depreciation is calculated to write off the cost of other Fixed Assets over their effective useful lives as follows: 

Fixtures, Fittings and Equipment 10 years straight line 20 years straight line Audio and computer equipment 3 years straight line 

Expenditure on assets over £300 is capitalised. 

## **Unrestricted and Restricted Funds** 

Unrestricted funds, including designated funds, represent the funds of the Church that are not subject to any restrictions regarding their use and are available for application on the general purposes of the Church. 

Restricted Funds are where the income has been raised for specific purposes, for individuals or for specific events and the expenditure is reported accordingly. 

## **2. TANGIBLE FIXED ASSETS** 

|**Freehold**<br>**Property**<br>**Fixtures,**<br>**Fittings &**<br>**Equipment**<br>**Audio &**<br>**Computer**<br>**Equipment**<br>**£**<br>**£**<br>**£**<br>**COST**<br>As at 1 Jan 2023<br>Additions<br>557,051<br>-<br>63,047<br>3,141<br>3,360<br>-<br>________<br>________<br>_______<br>As at 31 Dec 2023<br>557,051<br>66,188<br>3,360<br>________<br>________<br>_______<br>**DEPRECIATION**<br>As at 1 Jan 2023<br>Charge for the year<br>-<br>-<br>43,439<br>2,905<br>2,581<br>390<br>________<br>________<br>_______<br>As at 31 Dec 2023<br>-<br>46,344<br>2,971<br>________<br>________<br>_______<br>**NET BOOK VALUE**<br>As at 31 Dec 2023<br>557,051<br>19,844<br>389<br>________<br>________<br>_______<br>As at 31 Dec 2022<br>557,051<br>19,608<br>779|**Total**<br>**£**<br>623,458<br>3,141<br>________<br>626,599|
|---|---|
||________<br>46,020<br>3,295<br>________<br>49,315|
||________<br>577,284|
||________<br>577,438|



The Church has elected, in accordance with section 35.10(d) of FRS102, to use the carrying value on 1 January 2015, the date of transition to FRS102, of the freehold property previously carried at a valuation, as their deemed cost. 

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## **SILVERTON EVANGELICAL CHURCH NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2023** 

## **3. DESIGNATED FUND** 

A fund of £5,000 was designated for repairs of the Church Building, to include the replacement of the church front doors based upon the assessment of repairs anticipated in 2024. 

## **4. MOVEMENT IN FUNDS** 

|**2023**<br><br>**Unrestricted**<br>General fund<br>**Restricted**<br>Youth work<br>Family support<br>**Total**|**Brought**<br>**Forward**<br>**Income**<br>**Expenditur**<br>**e**<br>**£**<br>**£**<br>**£**<br>506,183<br>79,615<br>(62,564)<br>12,075<br>(4,475)<br>1,001<br>-<br>-<br>**507,184**<br>**91,690**<br>**(67,039**<br>**)**|**Carried**<br>**forward**<br>**£**<br>523,434<br>7,100<br>1,001<br>**531,835**|
|---|---|---|



|**2022**|**Brought**|**Income**|**Income**|**Expenditur**<br>|**Expenditur**<br>|**Carried**|
|---|---|---|---|---|---|---|
||**Forward**||||**e**<br>|**forward**|
||**£**|**£**|||**£**<br>|**£**|
|**Unrestricted**|||||||
|General fund|491,843|79,242|||(64,902)|506,183|
|**Restricted**|||||||
|Weekend away|392||-||(392)<br>|-|
|Family support|1,001||500||(500)<br>|1,001<br>|
|**Total**|**493,236**|**79,742**|||**(64,90**<br>|**507,184**|
|||||**2**|||



The Family Support fund provides support to Church members in need. 

As explained in the Trustee Report a new youth worker was engaged in 2023. The Youth  work  fund  records  funds  raised  and  expended  specifically  to  support activity with children and young people. 

The Weekend Away fund is used for the annual Church weekend away and the weekend away for the young people. During 2022 the funds were utilised. 

A grant of £500 was received for the purchase of equipment for the youth club. When the grant was spent the asset was no longer restricted and the funds were transferred to the General Fund. 

Restricted  expenditure  includes  £800  of  the  Church  Leader  and  Community Worker’s employment costs relating to youth work for 4 months. This represents 8.75% of his cost during that period. 

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**SILVERTON EVANGELICAL CHURCH NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2023** 

## **5. EMPLOYMENT COSTS** 

A  salary  of  £29,500  (2022:  £24,750)  was  paid  to  the  Church  Leader  and Community Worker and the newly engaged youth worker employer NIC cost of £Nil (2022: £Nil) was incurred due to the Employer Allowance. 

An employer’s pension contribution of £2,679 (2022: £3,035) was made under the Workplace Pension Rules. 

The  average  number  of  employees  was  1  (2022:  1).  No  employee  received employee benefits of more than £60,000. 

## **6. TRUSTEES' REMUNERATION AND EXPENSES** 

No Trustee received any remuneration from the charity during the year. 

There were no Trustee expenses during the year except for reimbursement of small expenditure incurred on behalf of the Church by individual Trustees. 

## **7. MISSIONARY AND CHARITABLE DONATIONS** 

Gifts are made to various individuals and organisations who have a connection with the Church.  The major donations were as follows: 

|**Restricte**<br>**d**<br>**Unrestricted**<br>**£**<br>**£**<br>Church Family Support<br>-<br>-<br>Ukraine Support<br>-<br>-<br>TABS<br>-<br>500<br>CREE<br>-<br>773<br> <br>Mission to France<br>-<br>500<br> <br>UCCF Exeter<br>-<br>475<br>Crossline<br>-<br>-<br> <br>Worldshare<br>-<br>-<br> <br>Baptist Home Mission Fund<br>-<br>1,000<br> <br>Tearfund<br>Lifewords<br>-<br>-<br>475<br>-<br> <br> <br>Barnabus Trust<br>Stewardship- Ukraine<br>Exeter International outreach<br>Individuals<br>-<br>-<br>-<br>-<br>266<br>-<br>500<br>475<br> <br> <br> <br> <br>____<br>_<br>_____<br>___<br>-<br>4,964<br>|**2023**<br>**£**<br>-<br>-<br> <br>500<br> <br>773<br> <br>500<br> <br>475<br> <br>-<br> <br>-<br> <br>1,000<br>475<br>-<br> <br> <br>266<br>-<br>500<br>475<br> <br> <br> <br> <br>__<br> <br>_<br>4,964|**2022**<br>**£**<br>500<br>375<br>1,000<br>-<br>-<br>274<br>294<br>400<br>1,000<br>500<br>400<br>400<br>200<br>500<br>650<br>____<br>6,493|
|---|---|---|



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## **SILVERTON EVANGELICAL CHURCH NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2023** 

## **8. SUMMARY OF FUNDS** 

|**2023**<br>**Tangi**<br>**Fixed**<br>**Asset**<br>**Current**<br>**Assets**<br>**Current         Non-**<br>**Current**<br>**Liabilities**<br>**Liabilities**<br>**£                    £**<br>**£**<br>**Unrestricted**<br>General fund<br>577,2 54,072<br>(15,650)               (80,872)<br>**Restricted**<br>Youth work<br>7,100 -<br>-<br>Family support<br>1,001 -<br>-<br>**Total**<br>**577,2**<br>**55,073**<br>**(15,650**<br>  **(94,327)**<br>**2022**<br>**Tangi**<br>**ble**<br>**Fixed**<br>**Assets**<br>**Current**<br>**Assets**<br>**Current**<br>**Liabilities**<br>**Non-**<br>**Current**<br>**Liabilities**<br>**£**<br>**£**<br>**Unrestricted**<br>General fund<br>577,4<br>38,582<br>(15,510)<br>(94,327<br>**Restricted**<br>Family Support<br>1,001<br>-<br>-<br>**Total**<br>**577,4**<br>**39,583**<br>**(15,510**<br>**)**<br>**(94,327**<br>**)**|**Total**<br>523,734<br>7,100<br>1,001<br>**531,83**<br>**Total**<br>**£**<br>506,183<br>1,001<br>**507,183**|
|---|---|



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