REGISTERED CHARITY NUMBER: 1180460
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
FOR
THE BRIDGE CHURCH, CARDIFF
MHA Elfed House Oak Tree Court Cardiff Gate Business Park CARDIFF CF23 8RS
THE BRIDGE CHURCH, CARDIFF
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
| Page | |
|---|---|
| Report of the Trustees | 1 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 14 |
| Detailed Statement of Financial Activities | 15 to 16 |
THE BRIDGE CHURCH, CARDIFF
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
The trustees present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
Objectives and aims
The objects of the charity are, the advancement of the christian faith in accordance with the Basis of Faith primarily but not exclusively within Cardiff and the surrounding neighbourhood and such other charitable purposes as shall, in the opinion of the charity trustees, put into practice the Christian faith in accordance with the Basis of Faith, including but not limited to: the prevention and relief of need, hardship and sickness; the advancement of education; and the provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age infirmity or disability, financial hardship or social circumstances with the object of improving their conditions of life.
Charitable purposes
The charity's purposes and principal activities continue to be the advancement of the Christian faith and the putting into practice of the Christian faith. These purposes are met through the operation of a church and its associated activities such as Sunday Services, monthly clubs and activities for children of all ages as well as events that engage with the local community and wider world.
Public benefit
The organisation's trustees can confirm that they have given due regard to public benefit guidance published by the Charity Commission. Significant activities that we undertook during the year that demonstrate public benefit are set out on the following pages.
Activities
Having fully transitioned away from COVID restrictions in 2022, we have been able to return to one Sunday worship meeting at the local school, along with associated activities such as Sunday School. We have maintained an excellent working relationship with the school. As part of that ongoing relationship with the school, and public benefit to our community, it has also been a joy to return to serving the school through visiting for assemblies, at which we speak to the children about what Christians believe as part of their Religion, Values and Ethics curriculum content. For example, in November we were able to present an advent-themed assembly to years one through to six, a total of 360 children.
2022 saw the Bridge Church deepen established partnerships across Cardiff, the UK, and the world, with churches and organisations that share our aims and benefit the wider community. We have begun to build relationships with other churches in Cardiff and beyond, as well as organisations that focus on compassion and advocacy, such as Home for Good, Cardiff Foodbank, Oasis refugee centre and the Tamar Project in Thailand. We have also continued our relationships with Christian organisations across the UK such as the UCCF, Christians in Sport and Wales Leadership Forum. Partnership activities have ranged from prayer support and sharing people resources and skills, through to and financial help.
At Easter in 2022, we were also able to build on established events we provide for the community, such as our Community Easter Egg Hunt, through which we were able to engage with 250 people from the locality. We were able to once again hold our summer holiday club for children aged 5 - 11 years old in 2022. The event was a great success, with nearly 100 children attending over the 3 days and new contacts and relationships in the community being built. Our youth team has continued to do an outstanding job during 2022. The creativity of the team has meant that relationships within this segment of our congregation have been kept strong during the teenage years - a challenging time at best! The lack of local facilities available for youth events has been a particular challenge, which the team has met with both positivity and innovation. A highlight of the year for the youth team was the youth weekend away providing friendship and community for teenagers who attend the Bridge Church. Again, this was staffed by a volunteer team for a whole weekend.
At Christmas, we hosted a large Carols by Candlelight service for the community attended by over 200 people and sang carols in the streets of the community in the evening. It was a difficult choice for some that evening because of the unseasonal World Cup but we were pleased with the attendance from the community.
The local Nativity Trail was again well engaged with in the local community, as was the very popular wreath-making evening, which at least 50 people attended, approximately 40 of whom were visitors from the community (and 10 of whom attended follow-up events). These activities maintained awareness of the church in the local community, and led to new community contacts.
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THE BRIDGE CHURCH, CARDIFF
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
In short, we have been pleased with the degree to which we have been able to not only maintain but grow community, partnership and school relations and serve our locality and Cardiff more widely, both practically and in the proclamation of the Christian Good News. The charity's different activities continue to be run almost entirely by volunteers serving alongside the two full time staff (for example the Holiday Club events comprised 40+ volunteers, volunteering in the region of 400 hours collectively).
The elders continue to work on long term planning for future staff, but it is still the case that almost all the activities run at the Bridge Church would not be possible without the input of volunteers on a weekly basis. It continues to be largely volunteers who maintain our website, carry out member admin and run our internal and external communications and social media platforms, all of which generate an increasing number of interactions with the local community and across Cardiff.
ACHIEVEMENT AND PERFORMANCE
During 2022 we have again been delighted that the core numbers in attendance at our weekly meetings have not only stayed stable but have slowly grown, with up to 200 people now attending on a busy Sunday. We were delighted to continue to welcome in new members during 2022. Now that regular in-person small group meetings have restarted we are actively planning to add new small groups in order to reduce group size and increase engagement. We are also planning to increase the number of monthly youth meetings in 2023, as the number of youth continues to grow and there has been a most encouraging desire amongst the youth for more meetings in which they can build relationships and grow in their understanding of the Christian faith.
The finance team continues to be led by Graeme Hunter alongside Steff Elis (chair of trustees). Sarah Roberts and Vicky Bishop (church members) volunteer many hours to maintain high standards of finance at the church.
Part of our church vision and strategy continues to be the eventual acquisition of our own premises in the community, which would greatly expand our ability to build relationships with local people and provide greater opportunities for both engagement and public benefit. To that end we continue to look for potential sites and partners and are exploring various avenues for a potential base. This year, we explored a potential site at Deryn Court which is placed at the heart of the Pontprennau and Pentwyn communities. Unfortunately, the building didn't prove to be viable because it did not allow us to fulfil our charitable and church objectives by serving the community in the way we intend to.
In summary, we are grateful to God - and very encouraged - that we have - by God's grace - been able to maintain and grow attendance levels, keep up a good level of contact with the community and make progress in the advancement and practical outworking of our most precious Christian faith.
FINANCIAL REVIEW
Financial position
The financial results for the year ended 31 December 2022 are shown in the attached financial statements. Total income for the year was £195,599, total expenditure was £172,850 with a reported net surplus for the year of £22,749.
At 31 December 2022 the charity was holding cash at bank of £437,080.
Reserves policy
At 31 December 2022 the charity reported unrestricted funds of £245,914. Of these funds, £49,640 are held in designated funds leaving a general fund balance of £196,274. After taking into account funds tied up in fixed assets of £3,058, the charity held free reserves of £193,216.
It is the policy of the charity to hold at least 3 months operational costs in reserves and this has been reflected in a separate designated fund - Operational Reserve Fund; the general funds are in excess of this.
Whilst regular giving has continued since the year end, the trustees are fully aware of the continued uncertainty resulting from the cost of living crisis and economic uncertainty and feel it prudent to hold extra reserves in light of this.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is a charitable incorporated organisation (CIO) and is controlled by its constitution.
Induction and training of new trustees
New trustees and new elders are identical. The process for appointment of elders is set out in our constitution and church handbook, and this appointment happens periodically when the oversight and leadership needs of the church indicate the appointment of new elders is desirable.
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THE BRIDGE CHURCH, CARDIFF
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1180460
Principal address Highfields Church Monthermer Road Cardiff County of Cardiff CF24 4QW
Trustees
S L Elis - Chair T E Hocking C P Street – resigned 18.07.22 S M Smith M Bownds (Staff trustee) D Lawther (Staff trustee)
Independent Examiner
MHA (trading name of MacIntyre Hudson LLP) Limited liability partnership in England & Wales Registered number OC312313 Elfed House Oak Tree Court Cardiff Gate Business Park CARDIFF CF23 8RS
Approved by order of the Board of Trustees on 23 October 2023 and signed on its behalf by:
...................................................................... S L Elis - Trustee (Chair)
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BRIDGE CHURCH, CARDIFF
Independent examiner's report to the trustees of The Bridge Church, Cardiff
I report to the charity trustees on my examination of the accounts of The Bridge Church, Cardiff (the Trust) for the year ended 31 December 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
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:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Julia Mortimer MHA (trading name of MacIntyre Hudson LLP) Limited liability partnership in England & Wales Registered number OC312313 Elfed House Oak Tree Court Cardiff Gate Business Park CARDIFF CF23 8RS Date: .............................................
MHA (trading name of MacIntyre Hudson LLP) Limited liability partnership in England & Wales Registered number OC312313
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THE BRIDGE CHURCH, CARDIFF
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 3 190,799 Charitable activities 5 The promotion of Christianity 1,637 Investment income 4 48 Total 192,484 EXPENDITURE ON Charitable activities 6 The promotion of Christianity 172,850 NET INCOME 19,634 RECONCILIATION OF FUNDS Total funds brought forward 226,280 TOTAL FUNDS CARRIED FORWARD 245,914 |
Restricted funds £ - - 3,115 3,115 - 3,115 189,814 192,929 |
2022 Total funds £ 190,799 1,637 3,163 195,599 172,850 22,749 416,094 438,843 |
2021 Total funds £ 165,676 1,351 1,237 168,264 130,247 38,017 378,077 416,094 |
|---|---|---|---|
The notes form part of these financial statements
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THE BRIDGE CHURCH, CARDIFF
BALANCE SHEET 31 DECEMBER 2022
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 12 3,058 CURRENT ASSETS Debtors 13 2,963 Cash at bank 244,151 247,114 CREDITORS Amounts falling due within one year 14 (4,258) NET CURRENT ASSETS 242,856 TOTAL ASSETS LESS CURRENT LIABILITIES 245,914 NET ASSETS 245,914 FUNDS 15 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ - - 192,929 192,929 - 192,929 192,929 192,929 |
2022 Total funds £ 3,058 2,963 437,080 440,043 (4,258) 435,785 438,843 438,843 245,914 192,929 438,843 |
2021 Total funds £ 1,085 2,835 415,042 417,877 (2,868) 415,009 416,094 416,094 226,280 189,814 416,094 |
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 23 October 2023 and were signed on its behalf by:
............................................. S L Elis – Trustee (Chair)
The notes form part of these financial statements
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THE BRIDGE CHURCH, CARDIFF NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
1. STATUTORY INFORMATION
The Bridge Church, Cardiff is a charitable incorporated organisation registered in England and Wales under charity number 1180460. The principal address is Highfields Church, Monthermer Road, Cardiff, CF24 4QW. The nature of the charity's operations and principal activities is disclosed within the Report of the Trustees.
The financial statements are presented in Sterling (£), the charity's functional currency, and rounded to the nearest pound.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent to provide a 'true and fair' view. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
There have been no material departures from Financial Reporting Standard 102.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern and therefore it is appropriate for the charity's financial statements to be prepared on a going concern basis.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Donations income includes donations and gifts that provide core funding are of a general nature and recognised where there is entitlement, probability of receipt and the amount can be measured with sufficient reliability. Such income is only deferred when the donor specifies it must be used in future accounting periods or the donor has imposed conditions which must be met before the charity has unconditional entitlement.
Income from charitable activities includes income received under contact or where entitlement to grant funding is subject to specific performance conditions. This income is recognised as the related services are provided and there is entitlement, probability of receipt and the amount can be measured with sufficient reliability. Income is deferred when the amounts received are in advance of the performance of the service or event to which they relate.
Investment income is recognised on a receivables basis.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature to support them.
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THE BRIDGE CHURCH, CARDIFF NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
2. ACCOUNTING POLICIES - continued
Expenditure
Support costs are those costs that, whilst necessary to deliver an activity, do not themselves produce or constitute the output of the charitable activity. This includes "Governance costs" which are those costs associated with meeting the constitutional and statutory requirements of the charity and include the accountancy fees and costs linked to the strategic management of the charity as well as a proportion of salaries based on an approximation of time spent in this area.
Expenditure includes VAT as the charity is not VAT registered.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 20% on cost
Taxation
As a registered charity the organisation is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only. Value Added Tax is not recoverable by the organisation and is therefore included in the relevant costs in the Statement of Financial Activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Debtors
Trade debtors and other debtors are recognised at the settlement amount due after any trade discounts offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Creditors
Creditors are recognised where the charity has a present obligation resulting 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 normally recognised at their settlement amount after allowing for any trade discounts due.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Financial instruments
The charity 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.
Debtors with no stated interest rate and receivable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. Prepayments are valued at the amount prepaid net of any trade discounts due.
Creditors and provisions are recognised where the charity has a present obligation resulting 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 normally recognised at their settlement amount after allowing for any trade discounts due.
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THE BRIDGE CHURCH, CARDIFF
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
3. DONATIONS AND LEGACIES
| Donations Gift aid Offerings Other income Specific appeals 4. INVESTMENT INCOME Bank interest receivable 5. INCOME FROM CHARITABLE ACTIVITIES Events 6. CHARITABLE ACTIVITIES COSTS The promotion of Christianity |
Direct Costs (see note 7) £ 163,673 |
2022 £ 129,502 31,414 177 1,961 27,745 190,799 2022 £ 3,163 2022 £ 1,637 Support costs (see note 8) £ 9,177 |
2021 £ 127,690 30,395 54 525 7,012 |
|---|---|---|---|
| 165,676 | |||
| 2021 £ 1,237 2021 £ 1,351 Totals £ 172,850 |
During the year, mission support was provided to 6 (2021- 6) organisations including regular monthly support to Christians in Sport, Highfields Church, UCCF and Noddfa Church.
During the year, the charity made donations of £11,091 which includes donations of £3,384 to Christians Against Poverty, £391 to Brave bear for flights & £4,000 to the Wales leadership forum for the growing churches project.
7. DIRECT COSTS OF CHARITABLE ACTIVITIES
| Trustees' remuneration etc Trustees' expenses Rent Equipment Pastoral and pulpit Evangelism Youth and children Mission support Catering Events Donations Pastoral gifts Special appeals |
2022 £ 73,382 2,481 14,564 235 400 7,713 3,501 18,630 794 1,530 28,352 1,000 11,091 163,673 |
2021 £ 66,448 2,054 10,761 206 320 7,237 957 17,100 700 373 6,500 300 11,000 123,956 |
|---|---|---|
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THE BRIDGE CHURCH, CARDIFF
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
8. SUPPORT COSTS
| SUPPORT COSTS | ||||
|---|---|---|---|---|
| Governance | ||||
| Management | Finance | costs | Totals | |
| £ | £ | £ | £ | |
| The promotion of Christianity | 5,851 | 476 | 2,850 | 9,177 |
Included within support costs are independent examination fees of £2,400 (2021 - £1,848).
9. TRUSTEES' REMUNERATION AND BENEFITS
The following remuneration was paid to trustees during the year:
| 2022 | 2021 | |||
|---|---|---|---|---|
| Trustee | Role | £ | £ | |
| M Bownds | Lead Minister | Salary including pension | 39,652 | 38,056 |
| D Lawther | Assistant Minister | Salary including pension | 27,998 | 26,780 |
Payment is permitted by virtue of paragraph 5.2 of the constitution adopted 29 October 2018.
Trustees' expenses
During the year £2,481 (2021 - £2,054) was paid to 2 (2021 - 2) trustee in respect of book allowance, training and travel.
10. STAFF COSTS
| Wages and salaries Social security costs Other pension costs The average monthly number of employees during the year was as follows: Average number of employees No employees received emoluments in excess of £60,000. |
2022 £ 62,501 5,331 5,550 73,382 2022 2 |
2021 £ 59,779 1,633 5,036 |
|---|---|---|
| 66,448 | ||
| 2021 2 |
11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 165,426 Charitable activities The promotion of Christianity 1,351 Investment income 7 Total 166,784 EXPENDITURE ON Charitable activities The promotion of Christianity 114,628 NET INCOME/(EXPENDITURE) 52,156 |
Restricted funds £ 250 - 1,230 1,480 15,619 (14,139) |
Total funds £ 165,676 1,351 1,237 168,264 130,247 38,017 |
|---|---|---|
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THE BRIDGE CHURCH, CARDIFF
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Unrestricted funds £ RECONCILIATION OF FUNDS Total funds brought forward 174,124 TOTAL FUNDS CARRIED FORWARD 226,280 12. TANGIBLE FIXED ASSETS COST At 1 January 2022 Additions At 31 December 2022 DEPRECIATION At 1 January 2022 Charge for year At 31 December 2022 NET BOOK VALUE At 31 December 2022 At 31 December 2021 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments and accrued income 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Social security and other taxes Accrued expenses |
Restricted Total funds funds £ £ 203,953 378,077 189,814 416,094 Equipment £ 1,182 2,419 3,601 97 446 543 3,058 1,085 2022 2021 £ £ 2,963 2,835 2022 2021 £ £ 1,038 1,020 3,220 1,848 4,258 2,868 |
|---|---|
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THE BRIDGE CHURCH, CARDIFF
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
15. MOVEMENT IN FUNDS
| At 1/1/22 £ Unrestricted funds General fund 179,990 Designated - Mission fund 4,465 Designated - Special Projects fund 39,500 Designated - Pastoral Needs fund 2,325 Designated - Mercy & Compassion - Designated - Partnership - 226,280 Restricted funds Building fund 189,814 TOTAL FUNDS 416,094 Net movement in funds, included in the above are as follows: Unrestricted funds General fund Designated - Mission fund Designated - Pastoral Needs fund Designated - Mercy & Compassion Designated - Partnership Restricted funds Building fund TOTAL FUNDS Comparatives for movement in funds At 1/1/21 £ Unrestricted funds General fund 123,724 Designated - Mission fund 6,775 Designated - Special Projects fund 8,500 Designated - Operational Reserve fund 34,000 Designated - Pastoral Needs fund 1,125 174,124 Restricted funds Building fund 188,584 Legacy fund 15,369 203,953 TOTAL FUNDS 378,077 |
Net movement in funds £ 48,647 (18,630) - (1,000) (1,608) (7,775) 19,634 3,115 22,749 Incoming resources £ 190,776 - - 1,708 - 192,484 3,115 195,599 Net movement in funds £ 69,256 (17,100) - - - 52,156 1,230 (15,369) (14,139) 38,017 |
Transfers between At funds 31/12/22 £ £ (32,363) 196,274 15,780 1,615 6,000 45,500 1,200 2,525 1,608 - 7,775 - - 245,914 - 192,929 - 438,843 Resources Movement expended in funds £ £ (142,129) 48,647 (18,630) (18,630) (1,000) (1,000) (3,316) (1,608) (7,775) (7,775) (172,850) 19,634 - 3,115 (172,850) 22,749 Transfers between At funds 31/12/21 £ £ (46,990) 145,990 14,790 4,465 31,000 39,500 - 34,000 1,200 2,325 - 226,280 - 189,814 - - - 189,814 - 416,094 |
|---|---|---|
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THE BRIDGE CHURCH, CARDIFF
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
15. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Designated - Mission fund Restricted funds Building fund Legacy fund TOTAL FUNDS |
Incoming resources £ 166,784 - 166,784 1,230 250 1,480 168,264 |
Resources Movement expended in funds £ £ (97,528) 69,256 (17,100) (17,100) (114,628) 52,156 - 1,230 (15,619) (15,369) (15,619) (14,139) (130,247) 38,017 |
|---|---|---|
Designated funds
Special projects - set up by the trustees to support special projects in the area of Pontprennau.
Mission fund - intended to provide mission support to church missionaries in Thailand and other mission projects in the UK and around the world.
Operational reserve fund - intended to meet 3 months of the total operating costs of the church including staff salaries.
Pastoral fund - set up by the trustees as additional funds set aside for Pastoral Needs.
Mercy & Compassion fund - Set up by the trustees to proactively support the needs with the church or community should they arise. In particular, the cost of living crisis in the current climate.
Partnership fund - Set up by the trustees to cover gifts/support to organisations that they 'partner' with - such as Christians in sport or UCCF.
Restricted funds
Building fund - funds received towards the future purchase or rental of a church building in Pontprennau. During the year, interest received of £403 on restricted bank funds have been applied to the fund.
Transfers between funds
During the year the following transfers were made from the general fund:
-
Transfers of £15,780 to the Designated - Mission fund
-
Transfers of £6,000 to the Designated - Special Projects fund
-
Transfers of £1,200 to the Designated - Pastoral Needs fund
-
Transfers of £1,608 to the Designated - Mercy and Compassion fund
-
Transfers of £7,775 to the Designated - Partnership fund
All transfers were made to set aside funds for increased support to these areas of work or to ensure the fund balances were in line with that approved by the Trustees.
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THE BRIDGE CHURCH, CARDIFF NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
16. EMPLOYEE BENEFIT OBLIGATIONS
The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in independently administered funds. The pension cost charge represents contributions paid by the charity to the fund and amounted to £5,550 (2021 - £5,036). There were outstanding contributions at the year end of £428 (2021 - £Nil).
17. RELATED PARTY DISCLOSURES
The total unconditional donations made to the charity by its trustees and close family members amounted to £23,635 (2021 - £20,390).
During the year a payment of £4,000 was made to a registered charity with a common Trustee in respect of Mission Support (2021: £5,000)
There were no other related party transactions requiring disclosure for the year ended 31 December 2022 or year ended 31 December 2021.
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THE BRIDGE CHURCH, CARDIFF
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
| INCOME AND ENDOWMENTS Donations and legacies Donations Gift aid Offerings Other income Specific appeals Investment income Bank interest receivable Charitable activities Events Total incoming resources EXPENDITURE Charitable activities Trustees' salaries Trustees' social security Trustees' pension contributions Trustees' expenses Rent Equipment Pastoral and pulpit Evangelism Youth and children Mission support Catering Events Donations Pastoral gifts Special appeals Support costs Management Administration Finance Bank charges Computer equipment Governance costs Legal and professional fees Independent examination fee |
2022 £ 129,502 31,414 177 1,961 27,745 190,799 3,163 1,637 195,599 62,501 5,331 5,550 2,481 14,564 235 400 7,713 3,501 18,630 794 1,530 28,352 1,000 11,091 163,673 5,851 30 446 476 450 2,400 2,850 |
2021 £ 127,690 30,395 54 525 7,012 165,676 1,237 1,351 168,264 59,779 1,633 5,036 2,054 10,761 206 320 7,237 957 17,100 700 373 6,500 300 11,000 123,956 4,346 - 97 97 - 1,848 1,848 |
|---|---|---|
This page does not form part of the statutory financial statements
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THE BRIDGE CHURCH, CARDIFF
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
| Total resources expended Net income |
2022 £ 172,850 22,749 |
2021 £ 130,247 38,017 |
|---|---|---|
This page does not form part of the statutory financial statements
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