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2021-12-31-accounts

THE BROMLEY CHRISTIAN WORKERS TRUST

(Registered Charity Number 1183501)

FINANCIAL STATEMENTS FOR THE YEAR ENDED

31 DECEMBER 2021

THE BROMLEY CHRISTIAN WORKERS TRUST

CHARITY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2021

Trustees

Kim Arnold Iain Broomfield Elizabeth Coke Neville Hayman (appointed 15 November 2021) Andrew Nathan (Chair) Toby Reid (resigned 1 February 2021) James Walsh

Treasurer

Thomas Feather

Secretary Key Staff

Adam Holland

Nick Batt Matt Lloyd Emily Greig (from 1 January 2021)

Governing Document

Constitution dated 8 May 2019

Charity Registration Number Address for Correspondence

Independent Examiner

1183501

Highland Road Bromley Kent BR1 4AA Ajay Rajani FCIE Stewardship 1 Lamb's Passage London EC1Y 8AB

Bankers

HSBC

Contents Page
Charity Information 1
Trustees' Annual Report 2-4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Accounts 8-14
Detailed Statement of Financial Activities with Comparatives 15

Page 1

THE BROMLEY CHRISTIAN WORKERS TRUST TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

The Trustees present their report and the accounts of The Bromley Christian Workers Trust (’the Charity’) for the financial year ended 31 December 2021.

INTRODUCTION

The Charity is a charitable incorporated organisation (‘CIO’) governed by a constitution dated 8 May 2019; the CIO was registered with the Charity Commission on 21 May 2019 and its registered number is 1183501. The CIO did not begin operating until 24 January 2020 when a trust with the same name (The Bromley Christian Workers Trust with charity registered number 1080688 – ‘the Trust’) transferred its net assets and activities to the CIO. The Trust did not operate after 24 January 2020 and was wound up in May 2021.

The accompanying financial statements have been prepared using the provisions of merger accounting. The comparatives for 2020 presented in the accompanying financial statements comprise the transactions of the Trust in the period to 24 January 2020 and the transactions of the CIO for the remainder of the year.

The Charity works closely with Christ Church Bromley (‘CCB’). The Charity donates the services of its staff to CCB and the charities sometimes make grants to each other. The Charity is not a subsidiary of CCB but the two charities share several trustees and have the same treasurer and so CCB is considered to be a related party. The financial transactions with CCB are disclosed in the notes to the financial statements

CHARITABLE OBJECTS

The charitable objects of the Charity are:

PUBLIC BENEFIT STATEMENT

The Trustees confirm that they have complied with the duty to have due regard to the public benefit guidance published by the Charity Commission in determining the activities undertaken by the Charity.

REVIEW OF ACTIVITIES

Ministry Training Associates Programme

The BCWT Ministry Training Associates (MTAs) scheme enables volunteers to learn and practice Bible ministry, gain formal training with other Associates and undertake practical service within a church (namely CCB) under the supervision of an experienced bible teacher and leader. The future development and growth of the Ministry Training Associate scheme remains reliant on the support of donors (many of whom are members of CCB).

Staff Appointments

Jack Stileman (previously an MTA, due to travel to Australia for Theological Training but unable to do so due to travel restrictions at short notice) was appointed as an assistant minister to help equip the members of CCB for Evangelism and to assist with youth work. This was made possible only by the Lord’s provision through the generosity of a one-off gift. Emily Grieg was appointed as Associate for Women’s Ministry during Summer 2020 and started work in January 2021.

Supporting Christ Church Bromley

CCB has a vision, which is “making Jesus known”, and the Charity’s staff are working with CCB to help fulfil this vision. In addition to the above, the Charity employed four other Associate Ministers and Christian workers who have supported the vision and ministry of CCB. The ministry support team is led by an Operations Director who oversees an Administrator and Site Manager.

THE BROMLEY CHRISTIAN WORKERS TRUST TRUSTEES’ ANNUAL REPORT (Continued) FOR THE YEAR ENDED 31 DECEMBER 2021

REVIEW OF ACTIVITIES continued

Summer Camps

The BCWT continued to provide a freelance Coordinator to provide administrative support to the summer camps run (previously) at Oswestry. These camps exist to provide teenagers with fun, friendship and a chance to explore life with Jesus. The camps relocated to Gatton Park in 2021 and are now known as ‘Lakeview’. The holidays are usually a week in length but had to be run as a series of shorter holidays due to COVID 19 restrictions. The Charity operates a restricted fund which receives donations from individual donors and grant-making trusts. The camps themselves are organised through Ventures, part of the ministry of CPAS.

COVID-19

By God’s providence, the overall impact of COVID-19 on finances in 2021 was marginal. The vast majority of BCWT expenditure is on staff salaries and no staff members were furloughed so expenditure remained roughly as expected. Staff largely continued in their normal roles but adapted to work from home during periods when recommended to do so.

FINANCIAL REVIEW

Due to the tremendous generosity of its supporters, during the year the Charity’s income increased by £76,000 to £300,000. Expenditure increased by £35,000 to £314,000. Following additions to the staff team, staffing costs (including training and accommodation) increased by £59,000; this increase was offset by a reduction in the grants paid to support mission, which fell by £21,000.

The deficit for the year was therefore £14,000 and the Charity’s net assets fell by this amount to £589,000. The Charity’s principal assets were tangible fixed assets (principally a property) with a carrying value of £372,000 and cash of £217,000, of which £5,000 is restricted.

RESERVES POLICY

The Trustees recognise the need to hold free reserves (which the Trustees define as being unrestricted cash) to allow protection of all core activities in the event of income shortfalls and to promote balanced strategic planning. The Trustees aim to hold free reserves equal to three months’ operating costs. For 2021 the benchmark would be £80,000. Free reserves at the end of 2021 stood at £212,000; the excess above £80,000 is being held to fund the expansion of activities and to help provide suitable accommodation to existing staff and to staff who may join the Charity.

RISK ASSESSMENT

In common with other charities, BCWT faces risks: operational, financial and reputational. The Trustees have considered the major areas of risk to which the Charity is exposed, measuring both the likelihood and the impact of a particular event or action, and are satisfied that systems have been established to identify and mitigate exposure to the major risks.

STATEMENT OF TRUSTEE RESPONSIBILITIES

The Trustees are responsible for preparing the Trustees' annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Charity law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the Charity as at the balance sheet date and of its incoming resources and application of resources for the financial year. In preparing these financial statements the Trustees are required to:

THE BROMLEY CHRISTIAN WORKERS TRUST TRUSTEES’ ANNUAL REPORT (Continued) FOR THE YEAR ENDED 31 DECEMBER 2021

STATEMENT OF TRUSTEE RESPONSIBILITIES continued

The Trustees are responsible for keeping proper accounting records that 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 and the Charity (Accounts and Reports) Regulations 2008. 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.

Approved by the Trustees and signed on its behalf by

James Walsh

James Walsh - trustee

Date: 28 October 2022

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF

THE BROMLEY CHRISTIAN WORKERS TRUST

('the Charity')

I report to the charity trustees on my examination of the accounts of the Charity for the year ended 31 December 2021 on pages 6 to 15 following, which have been prepared on the basis of the accounting policies set out on pages 8 and 9.

Responsibilities and basis of report

As the charity’s trustees of the Charitable Incorporated Organisation 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 Charity’s accounts carried out under section 145 of the 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

Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a Fellow of the Association of Charity Independent Examiners, which is one of the listed bodies.

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

  1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or 2. the accounts do not accord with those records; or

  2. 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.

Ajay Rajani

Ajay Rajani FCIE Fellow of the Association of Charity Independent Examiners Stewardship 1 Lamb's Passage London EC1Y 8AB

Date: 28 October 2022

Page 5

THE BROMLEY CHRISTIAN WORKERS TRUST

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2021

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Total income and endowments
EXPENDITURE ON:
Charitable activities
4
Total expenditure
Net income/(expenditure)
Transfers between funds
11
Other recognised gains/(losses):
Actuarial gains/(losses) on defined
benefit pension schemes
10
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
11		 Unrestricted
Funds
£
291,909
291,909
303,666
303,666
(11,757)
-

(11,757)
-
(11,757)
595,787
584,030		 Restricted
Funds
£
8,055
8,055
9,905
9,905
(1,850)
-
(1,850)
-
(1,850)
7,057
5,207		 Total
Funds
2021
£
299,964
299,964
313,571
313,571
(13,607)
-
(13,607)
-
(13,607)
602,844
589,237		 Total
Funds
2020
£
224,442
224,442
278,453
278,453
(54,011)
-
(54,011)
(1,000)
(55,011)
657,855
602,844

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing operations.

The notes on pages 8 to 15 form part of these accounts.

Page 6

THE BROMLEY CHRISTIAN WORKERS TRUST

BALANCE SHEET

AS AT 31 DECMEBER 2021

Note
FIXED ASSETS
Tangible assets
6
CURRENT ASSETS
Debtors
7
Cash at bank and in hand
8
CREDITORS: Amounts falling
due within one year
9
Net current assets / (liabilities)
Total assets less current liabilities
Defined benefit scheme asset / (liability)
10
TOTAL NET ASSETS
FUND BALANCES
11
Unrestricted Funds
Restricted Funds		 Unrestricted
Funds
£
372,477
6,494
211,978
218,472
(4,919)
213,553
586,030
(2,000)
584,030
584,030
-
584,030		 Restricted
Funds
£
-
-
5,207
5,207
-
5,207
5,207
-
5,207
-
5,207
5,207		 Total
Funds
2021
£
372,477
6,494
217,185
223,679
(4,919)
218,760
591,237
(2,000)
589,237
584,030
5,207
589,237		 Total
Funds
2020
£
381,241
6,340
234,103
240,443
(14,840)
225,603
606,845
(4,000)
602,845
595,787
7,057
602,844

The financial statements were approved by the Board of Trustees and were signed on its behalf by:

James Walsh

Date: 28 October 2022

James Walsh - trustee

Charity number: 1183501

The notes on pages 8 to 15 form part of these accounts.

Page 7

THE BROMLEY CHRISTIAN WORKERS TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2021

1 Statutory Information

The charity is a charitable incorporated organisation registered with the Charity Commission in England & Wales. The charity's registered number and principal address can be found on the Charity Information page.

2 Accounting Policies

These financial statements are prepared under the historical cost convention.

These financial statements have been prepared in accordance with the "Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102") and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.

The Charities (Accounts and Reports) Regulations 2008 (the '2008 Regulations') requires charities to prepare their accounts in accordance with 'Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005' but this accounting standard has since been withdrawn and has been replaced by the Charities SORP mentioned in the preceding paragraph. The charity has prepared these financial statements in accordance with the new Charities SORP; this departure from the 2008 Regulations is believed to be necessary for these financial statements to give a 'true and fair view'.

The principles adopted in the preparation of the financial statements are set out below.

a) Use of merger accounting On 24 January 2020 a trust with the same name (The Bromley Christian Workers Trust with charity registration number 1080688) transferred it assets and activities to the charity (the 'CIO'). As permitted by the Charities SORP, this transfer has been accounted for as a merger because it qualifies as a charity reconstruction (whereby the charity has simply changed its legal form) and the comparatives presented in these financial statements combine the results of the trust and the CIO in the previous reporting period.

b) Going concern The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

Income from donations and legacies includes:

The charity relies on volunteers to carry out many of its activities. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.

d) Expenditure

Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.

The charity sometimes makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.

Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.

Page 8

THE BROMLEY CHRISTIAN WORKERS TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2021

2 Accounting Policies continued

Unrestricted funds are funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.

f) Tangible fixed assets

Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £2,000 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective the following rates of depreciation are charged:

Leasehold property Over the remaining term of the lease Equipment Over 3 to 7 years

The carrying values of tangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate that the carrying value may not be recoverable.

g) Leased assets

Leases which do not transfer substantially all the risks and rewards of ownership to the charity are classified as operating leases. Operating lease payments are recognised as an expense on a straight-line basis over the lease term (unless another systematic basis is more representative of use).

h) Pension scheme arrangements

The charity operates defined contribution pension schemes for its employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds.

The charity also contributes to the Church of England Funded Pension Scheme, which is a multi-employer defined benefit pension scheme. The charity is unable to identify its share of this scheme's assets and liabilities therefore, as permitted by FRS 102, it is being treated as if it were a defined contribution scheme. The last actuarial valuation indicated that the obligation to provide defined benefits gives rise to a funding deficit and the charity, along with other participating employers, must make additional contributions to remedy the deficit. The obligation to make deficit reduction contributions in future years has been included as a liability in these financial statements. Further information about this defined benefits scheme, and the charity's obligation to contribute towards its funding deficit, is disclosed elsewhere in the notes to these accounts.

i) Taxation

The charity has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.

j) Financial instruments The charity's financial assets and financial liabilities all qualify as basic financial instruments, as defined by FRS102. Creditors and debtors are measured at their expected settlement value (normally the amount of cash that the charity expects to pay or receive).

The trustees do not consider that there are any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period.

3 Donations and legacies

ations and legacies
Donations of cash and similar
Donated facilities (see below)
Income tax recoverable		 2021
£
247,335
5,400
47,229
299,964		 2020
£
187,571
5,400
31,471
224,442

During the year, a supporter let a property to the charity for use by its staff at less than market rent; the value of this donation to the charity is estimated to be £5,400 (2020: £5,400). A charge for rent equal to this donation is included in the rent disclosed in note 4(a) below.

Page 9

THE BROMLEY CHRISTIAN WORKERS TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2021

4 Charitable expenditure

a
Costs incurred directly on specific activities
Ministry staff costs
Training
Rent
Other property costs
Depreciation
Mission grants payable to Christ Church Bromley
Mission grants payable to individuals
b
Costs incurred on support & administration
Governance costs
Independent examiner's fee for preparing and examining the accounts
Legal and professional fees
Other administrative expenses
Total expenditure		 2021
£
255,351
2,480
32,400
8,425
8,764
-
1,087
308,507
2,340
2,664
5,004
60
5,064
313,571		 2020
£
199,571
13,380
19,702
7,502
8,763
7,500
14,500
270,918
2,640
1,729
4,369
3,166
7,535
278,453

5 Analysis of staff costs, the cost of key management personnel and trustee remuneration and expenses

Gross wages and salaries
Social security
Pension costs
Defined benefit schemes
Defined contribution schemes		 2021
£
214,432
15,877
7,956
12,581
250,846		 2020
£
166,968
12,353
6,760
9,295
195,376

No staff received salaries at a rate of more than £60,000 per annum. The average monthly number of employees during the year was 8 (2020: 6). Most of the charity's activities are carried out by volunteers.

The charity's key management comprise the trustees and the key staff named on the Charity Information page. During the year key management received employment benefits totalling £89,905 (2020: £59,154).

In addition the charity made payments totalling £32,739 (2020: £16,288) in respect of the customary provision of accommodation to members of key management (who all serve as ministers) so that they could better perform their duties.

No trustees received employment benefits in either the current or preceding year.

6 Tangible fixed assets

Cost
At 1 January and 31 December 2021
Accumulated depreciation
At 1 January and 31 December 2021
Charge for the year
At 31 December 2021
Net book value
At 31 December 2021
At 31 December 2020		 Leasehold
Property
£
377,220
40,573
2,853
43,426
333,794
336,647		 Equipment
£
54,497
9,903
5,911
15,814
38,683
44,594		 Total
2021
£
431,717
50,476
8,764
59,240
372,477
381,241

Christ Church Bromley uses, free of charge, the equipment owned by the charity.

Page 10

THE BROMLEY CHRISTIAN WORKERS TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2021

7 Debtors

tors
Gift aid tax recoverable
Other debtors
h at Bank and in Hand
Cash at bank with immediate access
itors: liabilities falling due within one year
Accruals
Grant obligations		 2021
£
5,109
1,385
6,494
2021
£
217,185
2021
£
4,060
859
4,919		 2020
£
4,955
1,385
6,340
2020
£
234,103
2020
£
3,840
11,000
14,840

8 Cash at Bank and in Hand

9 Creditors: liabilities falling due within one year

10 Pension commitments

The Church of England Funded Pension Scheme

The charity participates in the Church of England Funded Pensions Scheme for stipendiary clergy, which is a defined benefit pension scheme. This scheme is administered by the Church of England Pensions Board, which holds the assets of the schemes separately from those of the Responsible Bodies.

Each participating Responsible Body in the scheme pays contributions at a common contribution rate applied to pensionable stipends.

The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This means it is not possible to attribute the Scheme’s assets and liabilities to each specific Responsible Body, and this means contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SoFA in the year are contributions payable towards benefits and expenses accrued in that year (2021: £7,956, 2020: £6,760), plus the figures highlighted in the table below as being recognised in the SoFA (2021: £nil, 2020: £1,000), giving a total charge of £7,956 for 2021 (2020: £7,760).

A valuation of the Scheme is carried out once every three years. The most recent Scheme valuation completed was carried out at as 31 December 2018. The 2018 valuation revealed a deficit of £50m, based on assets of £1,818m and a funding target of £1,868m , assessed using the following assumptions:

· An average discount rate of 3.2% p.a.;

· RPI inflation of 3.4% p.a. (and pension increases consistent with this);

· Increase in pensionable stipends of 3.4% p.a.;

· Mortality in accordance with 95% of the S3NA_VL tables, with allowance for improvements in mortality rates in line with the CMI2018 extended model with a long term annual rate of improvement of 1.5%, a smoothing parameter of 7 and an initial addition to mortality improvements of 0.5% pa.

Following the 31 December 2018 valuation, a recovery plan was put in place until 31 December 2022 and the deficit recovery contributions (as a percentage of pensionable stipends) are as set out in the table below.

contributions (as a percentage of pensionable stipends) are as set out in the table below.
% of pensionable stipends January January
2018 to 2021 to
December December
2020 2022
Deficitrepaircontributions 11.90% 7.10%

As at 31 December 2019, 31 December 2020 and 31 December 2021 the deficit recovery contributions under the recovery plan in force were as set out in the above table.

For senior office holders, pensionable stipends are adjusted in the calculations by a multiple, as set out in the Scheme’s rules.

Page 11

THE BROMLEY CHRISTIAN WORKERS TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2021

10 Pension commitments continued

Section 28.11A of FRS 102 requires agreed deficit recovery payments to be recognised as a liability. The movement in the balance sheet liability over 2020 and 2021 is set out in the table below.


sheet liability over 2020 and 2021 is set out in the table below.
2021 £
4,000
(2,000)
-
-
2,000		 2020 £
Balance sheet liability at 1 January
Deficit contribution paid
Interest cost (recognised in SoFA)
Balance sheetliability at 31 December
Remaining change to the balance sheet liability* (recognised in SoFA)		 6,000
(3,000)
-
1,000
4,000

This liability represents the present value of the deficit contributions agreed as at the accounting date and has been valued using the following assumptions. In general, these are set by reference to the duration of the deficit recovery payments but as at 31 December 2021, under accounting rules the payments are not discounted since the remaining recovery plan is less than 12 months. No price inflation assumption is needed since pensionable stipends for the remainder of the recovery plan are already known.

Dec-21 Dec-20 Dec-19
Discount rate 0.0% pa 0.2% pa 1.1% pa
Price inflation n/a 3.1% pa 2.8% pa
Increase to totalpensionable payroll -1.50% 1.6%pa 1.3%pa

The legal structure of the scheme is such that if another Responsible Body fails, the charity could become responsible for paying a share of that Responsible Body’s pension liabilities.

Summary of pension contributions payable for year:

The charity's pension contributions were as follows

Church of England Funded Pension Scheme (see above)
charged in respect of service in year
contributions towards funding deficit
Pension contributions to other defined contribution schemes
Summary of pension liabilities at the year end:
The charity's pension liabilities at the end of the year were as follows:
in respect of defined benefit pension arrangements (see above)
in respect of defined contribution pension arrangements		 2021
£
7,956
2,000
9,956
12,581
22,537
2021
£
2,000
-
2,000		 2020
£
6,760

3,000
9,760
9,295
19,055
2020
£
4,000
-
4,000

Page 12

THE BROMLEY CHRISTIAN WORKERS TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021

11 Funds

During the year the movements in the charity's funds were as follows:

Opening Transfers Gains and Closing
balance Income Expenditure in the year losses balance
2021 2021 2021 2021 2021 2021
£ £ £ £ £ £
Restricted funds
Camp Co-ordinator fund 7,057 2,655 (4,505) - - 5,207
Staff accommodation fund - 5,400 (5,400) - - -
7,057 8,055 (9,905) - - 5,207
Unrestricted Funds 595,787 291,909 (303,666) - - 584,030
Aggregate of funds 602,844 299,964 (313,571) - - 589,237

Analysis of net assets by fund

The assets and liabilities of the various funds were as follows:

Tangible fixed assets
Debtors
Cash at bank and in hand
Creditors falling due within one year
Defined benefit pension schemes liabilities		 Unrestricted
funds
£
372,477
6,494
211,978
(4,919)
(2,000)
584,030		 Restricted
funds
£
-
-
5,207
-
-
5,207		 2021
£
372,477
6,494
217,185
(4,919)
(2,000)
589,237

In the previous year the movements in the charity's funds were as follows:

Opening Transfers Gains and Closing
balance Income Expenditure in the year losses balance
2020 2020 2020 2020 2020 2020
£ £ £ £ £ £
Restricted funds
Camp Co-ordinator fund 3,075 8,177 (4,195) - - 7,057
Staff accommodation fund - 5,400 (5,400) -
 - -
3,075 13,577 (9,595) - - 7,057
Unrestricted funds 654,780 210,865 (268,858) - (1,000) 595,787
Aggregate of funds 657,855 224,442 (278,453) - (1,000) 602,844

Analysis of net assets by fund

In the previous year, the assets and liabilities of the various funds were as follows:

Tangible fixed assets
Debtors
Cash at bank and in hand
Creditors falling due within one year
Defined benefit pension schemes liabilities		 Unrestricted
funds
£
381,241
6,340
227,046
(14,840)
(4,000)
595,787		 Restricted
funds
£
-
-
7,057
-
-
7,057		 2020
£
381,241
6,340
234,103
(14,840)
(4,000)
602,844

The Camp Co-ordinator fund was created from donations received to help cover the administration costs incurred for Christian Summer camps.

The Staff Accommodation fund represents the donated facility referred to in note 3 above and the related charge for rent. The property was let to the charity at below market rent to help the charity provide accommodation to some of its staff.

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THE BROMLEY CHRISTIAN WORKERS TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2021

12 Operating lease commitments

The charity has operating leases for residential accommodation. The minimum amount payable in respect of these leases is as follows:

follows:
Within one year
Between one and five years
Payments falling due:		 2021
£
13,200
-
13,200		 2020
£
14,400
13,200
27,600

During the year the charity was charged £27,000 (2020: £13,800) for its operating leases.

13 Transactions with related parties

The Bromley Christian Workers Trust ('BCWT') works closely with Christ Church Bromley ('CCB') (registered charity number 1132870) and, though neither charity controls the other, they share some trustees and CCB is therefore considered to be a related party. From time to time, BCWT and Christ Church Bromley make grants to each other and support their respective charitable activities in other ways; most notably, BCWT donates the services of its staff to CCB. The financial transactions with CCB have been disclosed in the above notes.

During the year the charity received donations totalling £34,920 (2020: £11,420) from related parties (which includes Trustees, any other members of key management and anyone closely connected to them).

Except for the reimbursement of expenses incurred when acting as agent for the charity, no expenses (2020: £nil) were paid to, or for, the Trustees.

Except as disclosed in note 5 'Analysis of staff costs', there have been no other transactions with related parties during the year.

Page 14

THE BROMLEY CHRISTIAN WORKERS TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES

FOR THE YEAR ENDED 31 DECEMBER 2021

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Total income and endowments
EXPENDITURE ON:
Charitable activities:
4
Total Expenditure
Net income/(expenditure)
Transfers between funds
11
Other recognised gains/(losses):
10
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
11
Actuarial gains/(losses) on defined benefit
pension schemes		 Unrestricted
funds
2021
£
291,909
291,909
303,666
303,666
(11,757)
-
(11,757)
-
(11,757)
595,787
584,030		 Restricted
2021
£
8,055
8,055
9,905
9,905
(1,850)
-
(1,850)
-
(1,850)
7,057
5,207		 Total
2021
£
299,964
299,964
313,571
313,571
(13,607)
-
(13,607)
-
(13,607)
602,844
589,237		 Unrestricted
funds
2020
£
210,865
210,865
268,858
268,858
(57,993)
-
(57,993)
(1,000)
(58,993)
654,780
595,787		 Restricted
2020
£
13,577
13,577
9,595
9,595
3,982
-
3,982
-
3,982
3,075
7,057		 Total
2020
£
224,442
224,442
278,453
278,453
(54,011)
-
(54,011)
(1,000)
(55,011)
657,855
602,844

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