**CHARITY REGISTRATION NUMBER: 1182574** ## **WELCOME HALL EVANGELICAL CHURCH CIO UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** ## **LANGARD LIFFORD HALL LIMITED** Accountants and Registered Auditors Lifford Hall Lifford Lane Kings Norton Birmingham B30 3JN ## **WELCOME HALL EVANGELICAL CHURCH CIO** ## **FINANCIAL STATEMENTS** ## **YEAR ENDED 31 DECEMBER 2022** ||**Page**| |---|---| |Trustees' annual report|**1**| |Independent examiner's report to the trustees|**4**| |Statement of financial activities|**5**| |Statement of financial position|**6**| |Statement of cash flows|**7**| |Notes to the financial statements|**8 - 15**| **1** ## **WELCOME HALL EVANGELICAL CHURCH CIO** ## **TRUSTEES' ANNUAL REPORT** ## **YEAR ENDED 31 DECEMBER 2022** The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2022. ## **Reference and administrative details** **Registered charity name** Welcome Hall Evangelical Church CIO |**Charity registration number**|1182574| |---|---| |**Principal office**|Woodrow Lane| ||Catshill| ||Bromsgrove| ||Worcestershire| ||B61 0PU| |**The trustees**|| ||J Brooks| ||A Wells| ||S Jack| ||G Robbins| |**Independent examiner**|R D Coton| ||Langard Lifford Hall Limited| ||Lifford Hall| ||Lifford Lane| ||Kings Norton| ||Birmingham| ||B30 3JN| ## **Structure, governance and management** Appointment of trustees is governed by the Memorandum and Articles of Association and all new trustees are invited to join the board at the behest of the existing trustees and members. **2** ## **WELCOME HALL EVANGELICAL CHURCH CIO** ## **TRUSTEES' ANNUAL REPORT** _**(continued)**_ ## **YEAR ENDED 31 DECEMBER 2022** ## **Objectives and activities** The Objects are: (i) the advancement of the Christian faith in accordance with the Basis of Faith, Doctrinal Distinctives and Ethical Statements, primarily, but not exclusively, within Bromsgrove and the surrounding neighbourhood; and (ii) 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 Our primary aim is to advance the Christian faith and our meetings include specific teaching (from the Holy Bible) to achieve this. A secondary aim is the relief of hardship or sickness and is one means of loving one's neighbour, as taught in the Bible. Weekly services and events are in normal times held for pensioners, adults, teenagers and children. All members of the public are invited to attend activities appropriate to their age groups, and we make no charge for attendance at these published services. The teaching and ministry of the Church primarily in our locality promotes the ethical and moral standards of the Bible, in particular the command to love one's neighbour. This fosters harmony and good community relationships. Activities for various age groups including toddlers, children, teenagers, adults and the elderly are all part of the Church ministry and benefit to the public. All sermons preached at our Church are available to church members, and members of the public, free of charge, on the church website www.welcomehallchurch.org ## **Achievements and performance** Following the disruption of the Covid 19 Pandemic, we were pleased to experience a more 'normal' year in 2022. The Church continued a wide range of activities throughout the year, including regular Sunday Services (with a continued live stream broadcast); childrens' and teenagers' activities; street evangelism; coffee mornings; toddlers' group; litterpick; and mid-week church meetings. By these varied means the Church continued to proclaim the gospel and teach the truth of the Bible in the locality throughout the year. We were pleased to see newcomers attending these events and new members joining the Church via baptism as well as by transfer from other congregations. A new initiative this year was a family fun day held just before Easter on the Church premises. This was well received and there are plans for a similar event in summer 2023. We are grateful to the team of volunteers who have freely given their time and energy to running our outreach activities. In accordance with our Safeguarding policy, we have continued our rolling programme of DBS checking all staff and volunteers involved in children's work. WELCOME HALL EVANGEIICAL CHURCH CIO TRUSTEES, ANNUAL REPORT(cthd*w During the year the ￿UrCh made grants tolalling £40£￿ to replltrble Christian organisations to support direct gos￿1 work in the UK Continental Europe and Africa and to provide relief in the UK East Aftica and Ukraine. Suttstantial donations were made in of Ukraine following that country's invasion by RussAa. One of the trustee5. Jeremy Brooks, acts as the Church's full-time pastor with primary responsibility for public P￿achIng and teaching and fi)r pasknral care. Gordon Robbins works in a part.time capacity ￿ongSIde Jeremy as a￿￿late pastor. The trustees, who are also elders of the thurch. met at least twice a month to review the activities and athIeven￿nts ofthe (Iwity. The elders and deacons met monthly to consider the rytical arrnn8ements of all services and activities. The trnstees aim to mainlaln re￿ at a level that wlll provAde for the ongoing maintenance of the Church p￿rniSeS and equipmenL to support Ihe Church's paid workers and to fund the Sp￿￿ events during the year. The￿ is no deficit in the Charity accounts. urch members and other memiErs of the regular con8regation provided all of the Charity's funds through voluntary donations. We are thankful that 8iving ha5 I￿eTr maintained during 2tY22. in spite of fhe cost of living pressures on ￿lety. and the Church has ended the year in a satisfactory tinaneial positiorL In 2￿ the Tr￿￿teeS plan to review the aiurch's finanaal position in more deiail to ensure key outgoings are appropriately ￿nded. The trustees, annual retx>rt was approved on 16 MaTch 2023 and signed on behalf of the board 0£ trustees by: A Wells Trustee WELCOME HALL EVANGELICAL CHURCH CIO DEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WELCOME HALL EVANGELICAL CHURCH CIO YEAR ENDED 31 DECEMBER 2022 I report to the trustees on my examination of the financial statements of Welcome Hall Evangelical Church CIO {'the chartty,) for the year ended 31 December 2022. Responsibilities and basi5 of report As the trustees of the charity you are ￿sPonsIble for the preparation of the finanaal statements in accordan￿ with the requirements of the Charities Act 2011 ('the ACY). I repoTt in respect of my examination of the chaTity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examinati()n I have followed all the applxcable Directions given by the Charity conun1￿0Th under section 145(5)(b) of the ACL Independent examinerfs Statement I have completed my exa￿]natiO[L I cotthrni that no material Enatters have come to my attention in connection with the examination giving me cause to believe that in any material respectr. accounting records were not kept in respect of the charity as reyuired by section 130 OF the Act: or the finanaal statements do not accord wAth those records: or the financial statements do not comply wkth the appIAcable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2(Th other than any requirement that the acrounts give a 'true ancl fair, view which is not a matter considered as part of an independent examination. I have no concerns and have come acn)ss no other matters in connection with the examination to which attention should ￿ drawn in this report in order to enable a proper understanding of the accounts to be Teached. J l{rkna I, R D Coton Independent Examiner Langard Lifford Hall timited Lifford Hall Lifford Lane Kings Norton B30 3JN 16 March 2023 **5** ## **WELCOME HALL EVANGELICAL CHURCH CIO** ## **STATEMENT OF FINANCIAL ACTIVITIES** ## **YEAR ENDED 31 DECEMBER 2022** ||||**2022**||2021| |---|---|---|---|---|---| |||Unrestricted|Restricted||| |||funds|funds|**Total funds**|Total funds| |**Note**||**£**|**£**|**£**|£| |**Income and endowments**|||||| |Donations and legacies|**4**|174,576|–|**174,576**|178,658| |Charitable activities|**5**|9,022|–|**9,022**|–| |Other - donation of assets from|||||| |Welcome Hall Evangelical Church|**6**|–|–|**–**|142,449| |||-------------------------------------------|-------------------------------------------|-------------------------------------------|-------------------------------------------| |**Total income**||183,598|–|**183,598**|321,107| |||===========================================|===========================================|===========================================|===========================================| |**Expenditure**|||||| |Expenditure on charitable activities|**7,8**|211,550|12,640|**224,190**|189,091| |||-------------------------------------------|-------------------------------------------|-------------------------------------------|-------------------------------------------| |**Total expenditure**||211,550|12,640|**224,190**|189,091| |||===========================================|===========================================|===========================================|===========================================| |||-------------------------------------------|-------------------------------------------|-------------------------------------------|-------------------------------------------| |**Net (expenditure)/income and net**|||||| |**movement in funds**||(27,952)|(12,640)|**(40,592)**|132,016| |||===========================================|===========================================|===========================================|===========================================| |**Reconciliation of funds**|||||| |Total funds brought forward||521,842|543,520|**1,065,362**|933,346| |||-------------------------------------------|-------------------------------------------|-------------------------------------------------|-------------------------------------------------| |**Total funds carried forward**||493,890|530,880|**1,024,770**|1,065,362| |||===========================================|===========================================|=================================================|=================================================| 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 8 to 15 form part of these financial statements.** WELCOME HALL EVANGELICAL CHURCH CIO STATEMENT OF FINANCIAL posrrioN 21 Flxed assets Tangtble fixed asseLs 14 I,0￿?68 Debtors Cash at bank and in hand 194 53th3 194 80594 53257 80.788 Creditor&' amounts falling due within one year 16 Is￿7 15556 38,19) 65.292 Total assets ie88 current liabilities iJYJ6.755 1,148,600 Creditors: arnounts falling dlle after more than one year Net assets 17 I￿710 I.￿)5￿)2 Funds of the chazity Restrirted hmds Unrestricted funds 3520 521 493PJ) Total charityfunds 19 I,[￿5￿62 These finanaal statements We￿ approved by the tM)ard of truslees and authorised for I￿Ue on 16 March 2023, affld are signed on iEhalf of the board by: A Welts Trnstee The notes on pases 8 to 15 fonn part of theBe financial Statern￿. **7** ## **WELCOME HALL EVANGELICAL CHURCH CIO** ## **STATEMENT OF CASH FLOWS** ## **YEAR ENDED 31 DECEMBER 2022** ||**2022**|2021| |---|---|---| ||**£**|£| |**Cash flows from operating activities**||| |Net (expenditure)/income|**(40,592)**|132,016| |_Adjustments for:_||| |Depreciation of tangible fixed assets|**30,998**|31,168| |Interest payable and similar charges|**3,315**|2,146| |Donation of assets into the CIO on 16 March 2021|**–**|(271,235)| |_Changes in:_||| |Trade and other debtors|**–**|20,522| |Trade and other creditors|**(41)**|66| ||-------------------------------------------|-------------------------------------------| |Cash generated from operations|**(6,320)**|(85,317)| |Interest paid|**(3,315)**|(2,146)| ||-------------------------------------------|-------------------------------------------| |Net cash used in operating activities|**(9,635)**|(87,463)| ||===========================================|===========================================| |**Cash flows from investing activities**||| |Purchase of tangible assets|**(6,195)**|(23,607)| ||-------------------------------------------|-------------------------------------------| |Net cash used in investing activities|**(6,195)**|(23,607)| ||===========================================|===========================================| |**Cash flows from financing activities**||| |Proceeds from borrowings|**(11,701)**|95,521| ||-------------------------------------------|-------------------------------------------| |Net cash (used in)/from financing activities|**(11,701)**|95,521| ||===========================================|===========================================| |**Net decrease in cash and cash equivalents**|**(27,531)**|(15,549)| |**Cash and cash equivalents at beginning of year**|**80,594**|96,143| ||-------------------------------------------|-------------------------------------------| |**Cash and cash equivalents at end of year**|**53,063**|80,594| ||===========================================|===========================================| **The notes on pages 8 to 15 form part of these financial statements.** **8** ## **WELCOME HALL EVANGELICAL CHURCH CIO** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 DECEMBER 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 34 Woodrow Lane, Catshill, Bromsgrove, Worcestershire, B61 0PU. ## **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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. ## **Going concern** There are no material uncertainties about the charity's ability to continue. ## **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. ## **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. 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. **9** ## **WELCOME HALL EVANGELICAL CHURCH CIO** ## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ ## **YEAR ENDED 31 DECEMBER 2022** ## **3. Accounting Policies** _**(continued)**_ ## **Incoming resources** All income is 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. ## **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. ## **Tangible assets** Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. ## **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| |---|---|---| |Motor vehicles|-|33% straight line| |Equipment|-|10% reducing balance| ## **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. ## **Financial instruments** Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. ## **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. **10** ## **WELCOME HALL EVANGELICAL CHURCH CIO** ## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ ## **YEAR ENDED 31 DECEMBER 2022** ## **4. Donations and Legacies** |**Donations and Legacies**||||| |---|---|---|---|---| ||Unrestricted|
**Total Funds**|Unrestricted|Total Funds| ||Funds|**2022**|Funds|2021| ||£|**£**|£|£| |**Donations**||||| |Donations|147,389|**147,389**|149,694|149,694| |**Gifts**||||| |Gifts Aid Claims|27,187|**27,187**|28,964|28,964| ||-------------------------------------------|-------------------------------------------|-------------------------------------------|-------------------------------------------| ||174,576|**174,576**|178,658|178,658| ||===========================================|===========================================|===========================================|===========================================| ## **5. Charitable Activities** |**Charitable Activities**||||| |---|---|---|---|---| ||Unrestricted|
**Total Funds**|Unrestricted|Total Funds| ||Funds|**2022**|Funds|2021| ||£|**£**|£|£| |Other income from charitable||||| |activities - holidays and outings|9,022
===========================================|**9,022**
===========================================|–
===========================================|–
===========================================| ## **6. Other - Donation of Assets from Welcome Hall Evangelical Church** ||Unrestricted|
**Total Funds**|Unrestricted|Total Funds| |---|---|---|---|---| ||Funds|**2022**|Funds|2021| ||£|**£**|£|£| |Transferred into the CIO on 16||||| |March 2021|–|**–**|142,449|142,449| ||===========================================|===========================================|===========================================|===========================================| ## **7. Expenditure on Charitable Activities by Fund Type** |**Expenditure on Charitable Activities by**|**Fund Type**||| |---|---|---|---| ||Unrestricted|Restricted|
**Total Funds**| ||Funds|Funds|**2022**| ||£|£|**£**| |Faith teaching (inc. depreciation)|113,450|12,640|**126,090**| |Holiday and outings|10,707|–|**10,707**| |Support costs|87,393|–|**87,393**| ||-------------------------------------------|-------------------------------------------|-------------------------------------------| ||211,550|12,640|**224,190**| ||===========================================|===========================================|===========================================| ||Unrestricted|Restricted|
Total Funds| ||Funds|Funds|2021| ||£|£|£| |Faith teaching (inc. depreciation)|93,349|12,640|105,989| |Holiday and outings|41|–|41| |Support costs|83,061|–|83,061| ||-------------------------------------------|-------------------------------------------|-------------------------------------------| ||176,451|12,640|189,091| ||===========================================|===========================================|===========================================| **11** ## **WELCOME HALL EVANGELICAL CHURCH CIO** ## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ ## **YEAR ENDED 31 DECEMBER 2022** ## **8. Expenditure on Charitable Activities by Activity Type** ||Activities|||| |---|---|---|---|---| ||undertaken|Support|**Total funds**|Total fund| ||directly|costs|**2022**|2021| ||£|£|**£**|£| |Faith teaching (inc. depreciation)|126,090|85,053|**211,143**|180,464| |Holiday and outings|10,707|–|**10,707**|41| |Governance costs|–|2,340|**2,340**|8,586| ||-------------------------------------------|-------------------------------------------|-------------------------------------------|-------------------------------------------| ||136,797|87,393|**224,190**|189,091| ||===========================================|===========================================|===========================================|===========================================| ## **9. Analysis of Support Costs** |**Analysis of Support Costs**|||| |---|---|---|---| ||Analysis of||| ||support||| ||costs|**Total 2022**|Total 2021| ||£|**£**|£| |Staff costs|81,522|**81,522**|72,113| |Finance costs|3,315|**3,315**|2,146| |Governance costs|2,340|**2,340**|8,587| |Legal and professional costs|216|**216**|216| ||-------------------------------------------|-------------------------------------------|-------------------------------------------| ||87,393|**87,393**|83,062| ||===========================================|===========================================|===========================================| ## **10. Net (Expenditure)/Income** Net (expenditure)/income is stated after charging/(crediting): |||**2022**|2021| |---|---|---|---| |||**£**|£| ||Depreciation of tangible fixed assets|**30,998**|31,168| |||===========================================|===========================================| |**11.**|**Independent Examination Fees**||| |||**2022**|2021| |||**£**|£| ||Fees payable to the independent examiner for:||| ||Independent examination of the financial statements|**2,900**|2,900| |||===========================================|===========================================| **12** ## **WELCOME HALL EVANGELICAL CHURCH CIO** ## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ ## **YEAR ENDED 31 DECEMBER 2022** ## **12. Staff Costs** The average head count of employees during the year was 4 (2021: 3). No employee received employee benefits of more than £60,000 during the year (2021: Nil). ## **Key Management Personnel** Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel for services provided to the charity was £65,257 (2021:£68,155). ## **13. Trustee Remuneration and Expenses** During the period remuneration of £59,864 (2021: £63,075) and pension contributions of £5,393 (2021: £5,080) were paid in respect of the trustees. ## **14. Tangible Fixed Assets** |**Tangible Fixed Assets**||||| |---|---|---|---|---| ||Land and|Motor||| ||buildings|vehicles|Equipment|**Total**| ||£|£|£|**£**| |**Cost**||||| |At 1 January 2022|1,163,664|14,375|104,943|**1,282,982**| |Additions|–|–|6,195|**6,195**| ||-------------------------------------------------|-------------------------------------------|-------------------------------------------|-------------------------------------------------| |**At 31 December 2022**|1,163,664|14,375|111,138|**1,289,177**| ||=================================================|===========================================|===========================================|=================================================| |**Depreciation**||||| |At 1 January 2022|151,351|14,375|33,888|**199,614**| |Charge for the year|23,273|–|7,725|**30,998**| ||-------------------------------------------------|-------------------------------------------|-------------------------------------------|-------------------------------------------------| |**At 31 December 2022**|174,624|14,375|41,613|**230,612**| ||=================================================|===========================================|===========================================|=================================================| |**Carrying amount**||||| |**At 31 December 2022**|989,040|–|69,525|**1,058,565**| ||=================================================|===========================================|===========================================|=================================================| |At 31 December 2021|1,012,313|–|71,055|1,083,368| ||=================================================|===========================================|===========================================|=================================================| **13** ## **WELCOME HALL EVANGELICAL CHURCH CIO** ## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ ## **YEAR ENDED 31 DECEMBER 2022** ## **15. Debtors** |**15.**|**Debtors**||| |---|---|---|---| |||**2022**|2021| |||**£**|£| ||Other debtors|**194**|194| |||===========================================|===========================================| |**16.**|**Creditors:** **amounts falling due within one year**||| |||**2022**|2021| |||**£**|£| ||Bank loans and overdrafts|**11,835**|12,283| ||Accruals and deferred income|**1,950**|1,950| ||Social security and other taxes|**1,282**|1,165| ||Other creditors|**–**|158| |||-------------------------------------------|-------------------------------------------| |||**15,067**|15,556| |||===========================================|===========================================| |**17.**|**Creditors:** **amounts falling due after more than one year**||| |||**2022**|2021| |||**£**|£| ||Bank loans and overdrafts|**71,985**|83,238| |||===========================================|===========================================| Included within creditors due over 1 year is an amount due of £24,642 repayable by instalments due over 5 years. ## **18. 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 £5,393 (2021: £5,080). ## **19. Analysis of Charitable Funds** ## **Unrestricted funds** |**Unrestricted funds**|||||| |---|---|---|---|---|---| |||At|||**At**| ||1|Jan 2022|Income|Expenditure|**31 Dec 2022**| |||£|£|£|**£**| |General funds||521,842|183,598|(211,550)|**493,890**| |||===========================================|===========================================|===========================================|===========================================| |||At|||At| ||1|Jan 2021|Income|Expenditure|31 Dec 2021| |||£|£|£|£| |General funds||377,186|321,107|(176,451)|521,842| |||===========================================|===========================================|===========================================|===========================================| **14** ## **WELCOME HALL EVANGELICAL CHURCH CIO** ## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ ## **YEAR ENDED 31 DECEMBER 2022** ## **19. Analysis of Charitable Funds** _**(continued)**_ ## **Restricted funds** |||At|||**At**| |---|---|---|---|---|---| ||1|Jan 2022|Income|Expenditure|**31 Dec 2022**| |||£|£|£|**£**| |Restricted Funds||543,520|–|(12,640)|**530,880**| |||===========================================|===========================================|===========================================|===========================================| |||At|||At| ||1|Jan 2021|Income|Expenditure|31 Dec 2021| |||£|£|£|£| |Restricted Funds||556,160|–|(12,640)|543,520| |||===========================================|===========================================|===========================================|===========================================| ## **20. Analysis of Net Assets Between Funds** ||Unrestricted|Restricted|
**Total Funds**| |---|---|---|---| ||Funds|Funds|**2022**| ||£|£|**£**| |Tangible fixed assets|527,685|530,880|**1,058,565**| |Current assets|53,257|–|**53,257**| |Creditors less than 1 year|(15,067)|–|**(15,067)**| |Creditors greater than 1 year|(71,985)|–|**(71,985)**| ||-------------------------------------------|-------------------------------------------|-------------------------------------------------| |**Net assets**|493,890|530,880|**1,024,770**| ||===========================================|===========================================|=================================================| ||Unrestricted|Restricted|
Total Funds| ||Funds|Funds|2021| ||£|£|£| |Tangible fixed assets|539,848|543,520|1,083,368| |Current assets|80,788|–|80,788| |Creditors less than 1 year|(15,556)|–|(15,556)| |Creditors greater than 1 year|(83,238)|–|(83,238)| ||-------------------------------------------|-------------------------------------------|-------------------------------------------------| |**Net assets**|521,842|543,520|1,065,362| ||===========================================|===========================================|=================================================| ## **21. Financial Instruments** The carrying amount for each category of financial instrument is as follows: ||**2022**|2021| |---|---|---| ||**£**|£| |**Financial assets measured at fair value through income and**|**expenditure**|| |Financial assets measured at fair value through income and||| |expenditure|**53,063**|80,594| ||===========================================|===========================================| Financial assets consist of cash and bank balances. **15** ## **WELCOME HALL EVANGELICAL CHURCH CIO** ## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ ## **YEAR ENDED 31 DECEMBER 2022** ## **22. Analysis of Changes in Net Debt** |**Analysis of Changes in Net Debt**|||| |---|---|---|---| ||At||**At**| ||1 Jan 2022|Cash flows|**31 Dec 2022**| ||£|£|**£**| |Cash at bank and in hand|80,594|(27,531)|**53,063**| |Debt due within one year|(12,283)|448|**(11,835)**| |Debt due after one year|(83,238)|11,253|**(71,985)**| ||-------------------------------------------|-------------------------------------------|-------------------------------------------| ||(14,927)|(15,830)|**(30,757)**| ||===========================================|===========================================|===========================================| ## **23. Related Parties** The were no related party transactions which require disclosure in the current year. In the previous year, on 16 March 2021, net assets were donated to the value of £142,449 by Welcome Hall Evangelical Church, who have trustees in common with Welcome Hall Evangelical Church CIO.