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2022-03-31-accounts

CHARITY REGISTRATION NUMBER: 1179249

Ely Presbyterian Church (Reformed) Unaudited Financial Statements

31 March 2022

GORDON DOWN & COMPANY LIMITED

Accountants and business advisors 144 Walter Road Swansea SA1 5RW

Ely Presbyterian Church (Reformed)

Financial Statements

Period ended 31 March 2022

Page
Trustees' annual report 1
Independent examiner's report to the Trustees 11
Statement of financial activities 12
Statement of financial position 13
Notes to the financial statements 14

Ely Presbyterian Church (Reformed)

Trustees' Annual Report

Period ended 31 March 2022

The Trustees present their report and the unaudited financial statements of the charity for the period ended 31 March 2022.

Reference and administrative details

Registered charity name Ely Presbyterian Church (Reformed) Charity registration number 1179249 Principal office 4-6 Archer Road Ely Cardiff CF5 4FR

The Trustees

Rev Philip Haines (Elder) Mr Alun Swain (Elder) Mr Adrian Williams (Elder) Mr Gareth Williams (Deacon) Mr Justin Williams (Deacon) Independent examiner Mark Williams FCA of Gordon Down & Company Limited 144 Walter Road Swansea SA1 5RW

1

Ely Presbyterian Church (Reformed)

Trustees' Annual Report (continued)

Period ended 31 March 2022

Structure, governance and management

Governing document

Ely Presbyterian Church (Reformed) is constituted under a Charitable Incorporated Organisation (CIO) foundation registered on 18[th] July 2018 and a constitution dated 20[th] March 2018. The registered charity number is 1179249.

Organisational structure

The Trustees who have served during the year and since the year-end are set out on page 1 together with other legal and administrative information. The church is ruled by its ordained elders.

The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards including Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland.

The law applicable to charities in England & Wales 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 income and expenditure of the charity for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistently; make judgments and accounting estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

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

Appointment and induction of new Trustees

The Trustees are elected by the Elders' session. The Trustees are responsible for the induction of any new Trustee. This involves making them aware of a Trustee's responsibilities and of the nature of the governing document and administrative procedures. A new Trustee would receive a copy of the charity's Trust Deed together with a copy of the charity's latest Annual Report and Accounts.

Key management remuneration

The board of Trustees and the Elders' session are considered to be the key management personnel of the charity. Details of Trustee remuneration or other benefits are disclosed at note 12. Details of Trustee expenses and related party transactions are disclosed in notes 12 and 19 respectively. Payments to other key management personnel are given at note 11.

Risk management

The Trustees have conducted a review of the major risks to which the charity is exposed. Where appropriate, systems or procedures have been established to mitigate the risk the charity faces. These procedures are periodically reviewed to ensure they continue to meet the needs of the charity.

2

Ely Presbyterian Church (Reformed)

Trustees' Annual Report (continued)

Period ended 31 March 2022

Objectives and activities

Objectives and aims

Ely Presbyterian Church (Reformed) was planted in 1927 as a mission church by the Forward Movement of the Presbyterian Church of Wales/Calvinistic Methodist Church of Wales. In 1968 we became an independent Presbyterian church and in 1974 our Church School was established, entirely funded by ourselves to the present day. Our testimony is that God has been good to us over all these years.

The object of Ely Presbyterian Church (Reformed) hereinafter called ‘the Church’ and Ely Presbyterian Church School hereafter called ‘the School’ is to advance the Christian Religion and Christian education in accordance with the doctrinal standards of the church, namely the propagation and practice of the Christian Faith as described in the historic Reformed confessions such as the Westminster Confession of Faith.

In planning activities the Trustees have had due regard to the guidance issued by the Charity Commission relating to public benefit, and, in particular, the specific guidance on charities for the advancement of religion:

Aims and powers

In furtherance of the above object the church shall:

3

Ely Presbyterian Church (Reformed)

Trustees' Annual Report (continued)

Period ended 31 March 2022

Objectives and activities (continued)

Aims and powers (continued)

Volunteers

In addition to employing staff, in order to conduct the full range of its activities, the church relies extensively on volunteer support. It is not possible to place a monetary value on the contributions made by volunteers nor are figures available that show how many hours of service they provide.

Achievements and performance

Ely Presbyterian Church (Reformed) promotes the Christian Religion primarily but not exclusively within the districts of Ely and Caerau in the City and Cardiff.

We seek to enable ordinary people to live out their faith as part of our community through worship and prayer, learning and understanding the whole counsel of God as found in the Bible and developing their relationship with, and trust in, the Lord Jesus Christ

During the course of the year the Church has continued its emphasis on outreach into the community. Numerous pastoral visits and phone calls have also taken place.

Our Charities Committee has met regularly over the last twelve months in order to plan our charitable work and make recommendations.

During the year, we have supported a number of worthy causes (as detailed in the notes of the accounts), as part of our commitment we support a range of Christian charitable organisations.

In brief, we have supported the following charities:

The African Bible University , which trains African students in Biblical studies and related disciplines.

In April 2021 we produced a podcast (via YouTube) for the students we have been supporting during their ministerial training in Uganda – in which we shared details of our life as a Church and School charitable community in Cardiff.

4

Ely Presbyterian Church (Reformed)

Trustees' Annual Report (continued)

Period ended 31 March 2022

Achievements and performance (continued)

On 10[th] May 2021 we received the following response from one of our sponsored students:

“Greetings Ely Presbyterian Church,

Thank you so much for sharing! I have watched the video. May God continually bless you all and the works of your hands and the humility you have expressed over the years. I am sure the feeling is the same for David and Boston. I for one appreciate the support you rendered and the prayers you offer each day for us. Thanks to Reverend Haines and the rest of the members of the body of Christ in Cardiff Wales once again.

Covid 19 has been challenging for all of us, but mainly there perhaps. Here in Uganda we opened churches just a few months ago after almost a year of closure. But the Lord has blessed us each Lord's Day to congregate at least 250 people. At the church I serve at, New City Presbyterian Church in Kampala, we meet at ABU Chapel, and God has been using me to encourage the brethren there in many ways, as I have also continually served with ABC Radio 99.3 FM which reaches about 100,000 people with the uncompromising gospel messages in Kampala and surrounding areas. This should serve as a reminder that the seeds you sow might seemingly be small or even just one, and yet can die and bear more fruit. All this is possible because of your giving. I am now married for one year and ten months, and we are expecting a covenant child at the end of this year. We also ask for your prayers to directly be sent in that regard. I shared your selfless passion with my wife and family and we have never ceased to be appreciative.

After our service here, we hope to return to Malawi, our home country and continue in sharing the gospel of our Lord Jesus Christ there.

Thanks again and again for your giving”.

On 10[th] July 2021, we participated in an on-line presentation (due to COVID restrictions) hosted by the representatives of this charity and this further educated our community of faith regarding needs presenting themselves in Africa, as well as providing an opportunity for further support of the work of this charity.

The Leprosy Mission - TLM

TLM is an international Christian charity serving a global population of approximately 305 million people in 30 leprosy-affected countries.

In addition to support provided by the Church, the children of our Church School continue to help to support this charity so as to instil in them a team spirit of compassion and a desire to show Christian kindness to those who are in need.

On 20[th] April 2021 , after making a substantial donation to TLM, we received the following acknowledgment from their regional representative:

“God never stops surprising me lately with the generosity of his people during such a difficult time in our country and around the world.!

I am absolutely blown away by this gift which when doubled will have such an incredible impact in a rural village in Mozambique by providing a Community Hub. It will bring healing, education and the opportunity for many lives to be changed for the better.

5

Ely Presbyterian Church (Reformed)

Trustees' Annual Report (continued)

Period ended 31 March 2022

Achievements and performance (continued)

The Leprosy Mission - TLM (continued)

I will be writing as well, but thank you again so much for what you continue to do for those affected by leprosy.

Cardiff Foodbank - CFB

CFB which provides emergency food to local people who are referred to them in crisis. This charity forms a part of a nationwide network of foodbanks supported by the Trussell Trust, working to combat poverty and hunger across the UK.

On 30[th] June 2021 following a number of financial donations made, we received the following letter from CFB to their supporters:

“The generosity we have seen this past year has been incredible. So many have supported our work to ensure we can strengthen our resources to serve others in need across the City.

Our appeal target was £25, 000 to replace our van with another diesel vehicle but we received an amazing £40,000.

This extra funding has meant we have been able to purchase a full electric van which we believe, while helping us to support the people of Cardiff, will also help us move towards a greener future and environment. We are extremely thankful to everyone who has supported and helped us to make this purchase possible.”

The Christian Institute - CI

The CI is committed to the furtherance and promotion of the Christian religion in the United Kingdom and elsewhere. It's a non-denominational Christian charity committed to upholding the truths of the Bible.

In June 2021 , we received news of one of many examples of outstanding work carried out by this charity:

“Good news:

CI-backed Christian street preacher wins wrongful arrest case*

David McConnell had been preaching in Huddersfield town centre in December 2019 when he was arrested for “a hate related public order offence”.

…[after winning the case]…

“McConnell concluded: “I’m thankful that the police have admitted what they did was unlawful. It was a very distressing experience for me. But I’m glad I can put it behind me.

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Ely Presbyterian Church (Reformed)

Trustees' Annual Report (continued)

Period ended 31 March 2022

Achievements and performance (continued)

Development of Christian Life

At the core of the church’s commitment is a determination to declare the whole counsel of God as revealed in Holy Scripture, so as to enable as many people as possible to worship at our church and to become part of the Christian Community gathered at Ely Presbyterian Church.

Our services are publicised on a noticeboard outside the church building and online, and it is emphasised that all are welcome to attend and to join us and for fellowship.

We have also set up a YouTube site, which provides live and recorded service broadcasts across the globe.

Such technological innovations were particularly valuable when we were not permitted to meet for ‘in person’ worship.

Members in the ‘higher risk ‘bracket who were required to continue to self-isolate were also enabled to continue to join our services online.

Ely has been identified as containing a large number of underprivileged people and within its’ resources the church seeks to reach out to help families or individuals in their difficulties – Cardiff Food bank, Safer Families for children.

We have held a weekly Sunday School service and classes on Sunday mornings for many years, and these have been attended by children from the local community as well as by children of church members.

In December 2021 we posted leaflets in local streets to raise awareness of our church, and also visitors to our Carol Service.

Since January 2022 we have been running a Friday evening Youth Group (also advertised via leafletting the local community) consisting of a Bible presentation, games and a free tuck-shop. The Youth Group has been successful, attracting youths from within the community of faith as well as from the surrounding estate.

Since September 2021 , we have periodically set up an outreach stall in a prominent local public space in order to promote local outreach and to further expand our footprint as a community hub.

On 11[th] November 2021, our strong desire to develop substantial church associations took a huge step forward when we received the following letter of acceptance into the Evangelical Presbyterian Church of England and Wales:

“I am writing on behalf of the Commission of Presbytery, appointed at a meeting of Presbytery on 25[th] September 2021, to confirm the acceptance of Ely Presbyterian Church (Reformed) into the Evangelical Presbyterian Church in England on Wales as of 3[rd] November 2021.

7

Ely Presbyterian Church (Reformed)

Trustees' Annual Report (continued)

Period ended 31 March 2022

Achievements and performance (continued)

Development of Christian Life (continued)

It was a delight to be with you and the congregation on Wednesday 3[rd] November. We rejoiced in your articulation and affirmation of the truths of the gospel as we examined the session. We are glad that you stand squarely on the authority of Scripture and subscribe to our subordinate standards, the Westminster Confession of Faith and its Catechisms.

We were encouraged by the healthy participation of the congregation during the meeting and that we were able to respond to their questions and comments.

We are satisfied that both you and we have fulfilled the requirements as outlined in our Book of Church Order, Form of Government, chapter 14.

May the Lord richly bless you, the congregation at Ely and us as we seek to build one another up in our most holy faith and spread the good news of the gospel to the glory of our Triune God.”

The Evangelical Presbyterian Church in England and Wales (EPCEW) is a reformed a Presbyterian denomination in England and Wales with churches in Germany, Switzerland, and Sweden.

The Eldership of our church have been attending regular Presbytery meetings at different locations across the UK and as a body of churches, we have been sending many of our children to an annual summer camp.

Church School

Our Church School is entirely funded by the giving of the church membership, and donations from parents. We are not funded by any state contributions, either local or national state contributions.

The aim of the Church School is to provide as comprehensive an education as resources allow to prepare them for potential future development. We possess a strong desire to equip the children to realise their full potential but also to use their capabilities and energies according to the highest moral principles and noblest aspirations.

The work of our School has continued to prosper for another year, teaching the children of members and children from the wider local community who God is and what He wants for the world, and that He is interested in them.

Year on year, more pupils are added to the Church School, as more families become aware of the centrality of our position as a local community hub. We are grateful to God for expanding our borders, in this, and other ways.

We believe education is much more than giving children facts. We aim to engender an excitement about learning; a passion for knowledge and understanding; and a lifelong curiosity about the world. We aim to make our school a place where we all grow in our love for each other and our love of learning.

The children of the Church School usually regularly attend at the Regency care Home in Cardiff to entertain the residents with carols and other song as well as organising an annual coffee morning, baking cakes and helping to serve drinks in order to raise money for the Leprosy Mission. This was not possible this year due to restrictions surrounding the COVID pandemic. Since the previous financial year, the church has been committed to holding an annual open evening for the Church School, in order to raise awareness of what we can offer, and thereby to further meet the needs of communities in the City of Cardiff.

8

Ely Presbyterian Church (Reformed)

Trustees' Annual Report (continued)

Period ended 31 March 2022

Achievements and performance (continued)

Church school (continued)

The Church School was inspected by Estyn, Her Majesty’s Inspectorate for Education and Training in Wales, during February 2016. Here are some extracts from their inspection report:

“The school is a cohesive community, in which the governing body, staff, pupils and parents share a common vision and purpose based on Christian values, successfully underpinning all aspects of school life. Together, they have a strong sense of purpose, which is driven by high aspirations for pupils to achieve their best and the expectation that they will do this. This makes a very positive contribution to the high standards that pupils achieve and their consistently good behaviour.”

“Pupils across the school are well motivated and fully engage with their learning. Most pupils work at a standard in line with or above their age and appropriate to their ability. As they move through the school, pupils extend their knowledge and understanding well.”

“Standards of pupils’ wellbeing are strong. Pupils have a secure understanding of the importance of healthy living and eating. They participate enthusiastically in a suitable range of physical activities.”

“The school’s curriculum fully meets the requirements of the Independent School Standards (Wales) Regulations 2003. The school’s curriculum aims are clearly set out within the framework of the Christian ethos of the school. The curriculum is broad and balanced and meets the needs of all learners well.”

“The quality of teaching has a positive impact on the good standards that pupils achieve. All teachers have strong and supportive working relationships with pupils. This helps to create a purposeful working atmosphere that supports pupils’ learning particularly well.”

“The school promotes pupils’ spiritual, moral, social and cultural development particularly well. Learning experiences and daily acts of worship help pupils to reflect in a worthwhile way on their lives and beliefs. Effective opportunities exist to encourage pupils’ involvement in the life of the church and the wider community.”

“The school is a very caring community where pupils and staff have a strong sense of mutual respect. Pupils value the opinions of others and there is a high level of trust and appreciation between staff and pupils. This helps the school to promote pupils’ learning and their social development particularly well.”

Financial review

Going concern

The main risks to which the Charity is exposed, as identified by the Trustees, in the areas of finance, operations, safeguarding, and regulatory compliance are regularly reviewed. Procedures are in place to mitigate those risks which are considered appropriate and effective.

Ely Presbyterian Church receives funds entirely from freewill offerings, mainly by people associated with the church. An offering is taken up in the weekly services, and many other donations are given separately, mainly by bank transfer. Encouragement is given to use the gift aid scheme. An announcement regarding giving is made every month. The biblical principles of giving are included from time to time in the course of the teaching ministry.

An additional periodic voluntary freewill offering opportunity is a long-held tradition. There are no public appeals for funds. No professional fundraisers are employed.

All funds collected for other charities are passed on to the charities and people described, and none of this money is used to defray any expenses of the church.

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Ely Presbyterian Church (Reformed)

Trustees' Annual Report (continued)

Period ended 31 March 2022

Financial review (continued)

The Church held its 2020/21 business meeting on 3[rd] November 2021.

Having considered budget and cash flow projections for the next twelve months, the Trustees are confident that the Church will continue to meet its liabilities as they fall due for the foreseeable future and consider that there are no material uncertainties in relation to the Trust’s ability to continue as a going concern. The accounts comply with the current statutory requirements and the charity’s governing documents.

Total incoming resources for the year £170,290 (2021 - £170,282) consist of donations received of £136,410 (2021 - £146,939) associated tax refunds of £31,617 (2021 - £20,995) and other income/interest of £2,263 (2021 - £2,348).

A significant proportion of the total expenditure of £151,938 (2021 - £138,356) relates to salaries and school costs.

Incoming resources exceeded expenditure by £18,352 (2021 - £31,926).

There are no revaluation surpluses or deficits in the year (2021 – £nil).

Reserves policy

The Elders have examined the level of reserves held at the year end in light of the main risks facing the organisation. A policy has been established to maintain free reserves equivalent to 6 months operating costs. This is estimated to be approximately £82,000.

The free reserves of a charity represent the funds that are freely available to spend. In calculating the free reserves the Elders have deducted from the total of unrestricted funds any funds designated at the year end and the net book value of any tangible fixed assets as detailed in the accounts after adjusting for associated borrowing. This leaves a surplus of free reserves at 31[st] March 2022 of £160,622 which is £78,622 above the target set by the Elders. The policy is reviewed by the Trustees on an ongoing basis.

There are no designated funds held at the year end.

The budget proposed for the year has been made possible by the generosity of giving in the Church.

The Trustees’ annual report was approved on 15[th] January 2023 and signed on behalf of the board of governors by:

Mr A Williams (Elder) Trustee/Chairman

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Ely Presbyterian Church (Reformed)

Independent Examiner's Report to the Trustees of Ely Presbyterian Church (Reformed)

Period ended 31 March 2022

I report to the Trustees on my examination of the financial statements of Ely Presbyterian Church (Reformed) ('the charity') for the period ended 31 March 2022.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements 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.

Independent Examiner

Mark Williams FCA of Gordon Down & Company Limited 144 Walter Road Swansea SA1 5RW

24[th] January 2023

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Ely Presbyterian Church (Reformed)

Statement of Financial Activities

Period ended 31 March 2022

2022 2021
Unrestricted Restricted
funds funds Total funds Total funds
Note £ £ £ £
Income and endowments
Donations and legacies 4 162,433 5,594 168,027 167,934
Investment income 5 2,263 - 2,263 2,348
──────── ──── ──────── ────────
Total income 164,696 5,594 170,290 170,282
════════ ════ ════════ ════════
Expenditure
Expenditure on charitable activities 6,7 158,301 5,637 163,938 138,356
──────── ─────── ──────── ────────
Total expenditure 158,301 5,637 163,938 138,356
════════ ═══════ ════════ ════════
──────── ─────── ──────── ────────
Net income and net movement in funds 6,395 (43) 6,352 31,926
Other recognised gains/(losses):
Gains/(losses) for change in carrying - - - -
value of fixed assets
═══════ ═══════ ════════ ════════
Reconciliation of funds
Total funds brought forward 1,323,464 10,342 1,333,806 1,301,880
───────── ─────── ───────── ─────────
Total funds carried forward 1,329,859 10,299 1,340,158 1,333,806
═════════ ═══════ ═════════ ═════════

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 14 to 21 form part of these financial statements.

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Ely Presbyterian Church (Reformed)

Statement of Financial Position

31 March 2022

2022 2021
Note £ £
Fixed assets
Tangible fixed assets 13 1,107,704 1,127,820
Current assets
Debtors 14 26,417 21,657
Cash at bank and in hand 207,357 186,272
──────── ────────
233,774 207,929
Creditors: amounts falling due within one year 15 1,320 1,943
──────── ────────
Net current assets 232,454 205,986
───────── ─────────
Total assets less current liabilities 1,340,158 1,333,806
═════════ ═════════
Funds of the charity
Restricted funds 10,299 10,342
Unrestricted funds 1,329,859 1,323,464
───────── ─────────
Total charity funds 17 1,340,158
═════════		 1,333,806
═════════

These financial statements were approved by the board of Trustees and authorised for issue on

15[th] January 2023, and are signed on behalf of the board by:

Mr A Williams (Elder) Trustee/Chairman

The notes on pages 14 to 21 form part of these financial statements.

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Ely Presbyterian Church (Reformed)

Notes to the Financial Statements

Period ended 31 March 2022

1. General information

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 4-6 Archer Road, Ely, Cardiff, CF5 4FR.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The Trustee’s have considered the consequences of COVID-19 and other events and conditions, and they have determined that they do not create a material uncertainty that casts significant doubt upon the entity’s ability to continue as a going concern.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102.

No cash flow statement has been presented for the church.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Income tax

The charity is exempt from tax on its charitable activities.

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Ely Presbyterian Church (Reformed)

Notes to the Financial Statements (continued)

Period ended 31 March 2022

3. Accounting policies (continued)

Fund accounting

Unrestricted funds are available for use at the discretion of the Trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the Trustees for particular future project or commitment. Designated funds are part of the charity’s total unrestricted funds and represent funds earmarked by the Elders to be used for particular purposes in the future. The Elders have the power to re-designate such funds within unrestricted funds. Designated funds are not disclosed separately on the charity’s Statement of Financial Activities nor on its Balance Sheet.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

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Ely Presbyterian Church (Reformed)

Notes to the Financial Statements (continued)

Period ended 31 March 2022

3. Accounting policies (continued)

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to the extent to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property - 2% straight line on buildings, 0% on land
Fixtures and fittings - 20% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

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Ely Presbyterian Church (Reformed)

Notes to the Financial Statements (continued)

Period ended 31 March 2022

3. Accounting policies (continued)

Impairment of fixed assets (continued)

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Financial instruments

The Church only has financial assets and financial 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 with the exception of bank loans which would be subsequently measured at the carrying value plus accrued interest less repayments.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

4. Donations and legacies

Unrestricted Restricted Total Funds
Funds Funds 2022
£ £ £
Donations 108,760 4,981 113,741
Offerings 2,167 - 2,167
Gift Aid 31,004 613 31,617
School donations 5,667 - 5,667
Gifts 14,835 - 14,835
───────── ───────── ─────────
162,433 5,594 168,027
═════════ ═════════ ═════════
Unrestricted Restricted Total Funds
Funds Funds 2021
£ £ £
Donations 109,403 5,046 114,449
Offerings 1,355 - 1,355
Gift Aid 20,995 - 20,995
School donations 4,280 - 4,280
Gifts 26,855 - 26,855
───────── ───────── ─────────
162,888 5,046 167,934
═════════ ═════════ ═════════

17

Ely Presbyterian Church (Reformed)

Notes to the Financial Statements (continued)

Period ended 31 March 2022

5. Investment income

Unrestricted Total Funds Unrestricted Total Funds
Funds 2022 Funds 2021
£ £ £ £
Bank interest receivable 14 14 33 33
Solar panel income 2,249 2,249 2,315 2,315
──────── ──────── ──────── ────────
2,263 2,263 2,348 2,348
════════ ════════ ════════ ════════

6. Expenditure on charitable activities by fund type

Unrestricted Restricted Total Funds
Funds Funds 2022
£ £ £
Ministerial and pastoral activities 94,771 - 94,771
Church relations and preaching 12,221 5,637 17,858
School costs 12,399 - 12,399
Support costs 38,910 - 38,910
──────── ───────
────────
158,301 5,637 163,938
════════ ═══════
════════
Unrestricted Restricted Total Funds
Funds Funds 2021
£ £ £
Ministerial and pastoral activities 77,873 - 77,873
Church relations and preaching 4,022 4,391 8,413
School costs 13,672 - 13,672
Support costs 38,363 35 38,398
──────── ─────── ────────
133,930 4,426 138,356
════════ ═══════ ════════

7. Expenditure on charitable activities by activity type

Activities
undertaken
Grant funding		 Total funds Total fund
directly
of activities		 Support costs 2022 2021
£ £ £ £ £
Ministerial and pastoral
activities 94,771
-
37,590		 132,361 115,621
Church relations and
preaching 7,347
10,511
-		 17,858 8,413
School costs 12,399
-
-		 12,399 13,671
Governance costs -
-
1,320		 1,320 1,200
────────
───────
────────		 ────────
114,517
10,511
38,910		 163,938 138,356
════════
═══════
════════		 ════════ ════════

18

Ely Presbyterian Church (Reformed)

Notes to the Financial Statements (continued)

Period ended 31 March 2022

8. Analysis of grants

During the period the church made donations to various Christian institutions from funds received from members. The donations to institutions were as follows:

African Bible Society
Anglian Aid
Cardiff Foodbank
Care Sri Lanka
Christian Institute
Christchurch
C J Glover
Leprosy Mission
Mission to the World
Oxford Evangelical Church
UK Hearts		 2022
£
1,277
-
-
960
500
322
1,000
2,900
1,531
-
757
───────
9,247		 2021
£
791
-
2,411
1,350
250
-
-
1,000
-
250
-
───────
6,052

Total gifts made to individuals during the year totalled £1,264. Total gifts made in the year totalled £10,511.

9. Net income/(expenditure)

Net income/(expenditure) is stated after charging/(crediting):

2022 2021
£ £
Depreciation of tangible fixed assets 23,565 10,875
═══════ ═══════
10. Independent examination fees
2022 2021
£ £
Fees payable to the independent examiner for:
Independent examination of the financial statements 1,320 1,200
Other financial services - -
─────── ───────
1,320 1,200
═══════ ═══════
11. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

2022 2021
£ £
Wages and salaries 67,165 63,518
Social security costs - -
Employer contributions to pension plans 4,041 3,480
──────── ────────
71,206 66,998
════════ ════════

The charity employed 9 people during the period (2021 - 9). The total employee benefits of the charity's key management personnel were £32,281 (2021 - £30,309).

The average head count of employees during the year was 9 (2021 - 9).

No employee received employee benefits of more than £60,000 during the period or during the previous period.

19

Ely Presbyterian Church (Reformed)

Notes to the Financial Statements (continued)

Period ended 31 March 2022

12. Trustee remuneration and expenses

The Charity’s constitution makes provision for payments to be made to a Trustee.

During the year a salary of £32,281 was paid to one of the Trustees who was a full-time employee of the church. No expenses payments were noted.

13. Tangible fixed assets

Freehold Fixtures and
Improvement
property fittings
to property		 Total
£ £ £ £
Cost
At 01 April 2021 1,100,000 54,376
62,022		 1,154,376
Additions - 3,449
14,678		 3,449
───────── ────────
────────		 ─────────
At 31 March 2022 1,100,000 57,825
76,700		 1,157,825
═════════════ ════════
════════		 ═════════════
Depreciation
At 1 April 2021 - 26,556
8,993		 26,556
Charge for the year 12,000 11,565
1,572		 23,565
───────── ────────
────────		 ─────────
At 31 March 2022 12,000 38,121
10,565		 50,121
═════════ ════════
════════		 ═════════
Carrying amount
At 31 March 2022 1,088,000 19,704
66,135		 1,107,704
═════════════ ════════
════════		 ═════════════
At 31 March 2021 1,100,000 27,820 1,127,820
═════════════ ════════
════════		 ═════════════

The value of the church’s freehold property as at 31 March 2021 has been estimated by the Trustees at £1,100,000 and is stated in these accounts in accordance with the Trustees’ valuation, net of depreciation.

14. Debtors

2022 2021
£ £
Prepayments & other debtors 26,417 21,657
════════ ════════
15. Creditors: amounts falling due within one year
2022 2021
£ £
Other creditors 1,320 1,943
═══════ ═══════

16. Pensions and other post-retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £4,041 (2021 - £3,480).

20

Ely Presbyterian Church (Reformed)

Notes to the Financial Statements (continued)

Period ended 31 March 2022

17. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
At 31 March
1 April 2021 Income Expenditure 2022
£ £ £ £
General funds 1,323,464 164,696 (158,301) 1,329,859
═════════ ════════ ════════ ═════════
Restricted funds
At 31 March
1 April 2021 Income Expenditure 2022
£ £ £ £
Organ Fund 5,467 - - 5,467
Charity Fund 4,875 5,594 5,637 4,832
10,342 5,594 5,637 10,299
```

Restricted fund – Organ fund

The organ fund was established to fund the eventual replacement of the church organ.

Restricted fund – Charity fund

Church members contribute to this fund which makes donations to external Christian institutions.

Designated fund – Ministry fund

This designated fund was established as a contingency fund to meet the cost of future ministry salaries. The opening and closing balances on this fund were £60,000.

Designated fund – Organ fund

A further £1,533 was transferred into the Organ at the request of the Trustees. The opening balance on this fund was £nil and the closing balance was £1,533.

18. Analysis of net assets between funds

Unrestricted Restricted Total Funds Total Funds
Funds Funds 2022 2021
£ £ £ £
Tangible fixed assets 1,107,704 – 1,107,704 1,127,820
Current assets 223,475 10,299 233,774 207,929
Creditors less than 1 year (1,320) – (1,320) (1,943)
───────── ─────── ───────── ─────────
Net assets 1,329,859 10,299 1,340,158 1,333,806
═════════ ═══════ ═════════ ═════════

19. Related parties

The aggregate value of unconditional donations made by the Trustees in the period to 31 March 2022 was £19,580 (2021-£21,780).

21