ABBEY CHURCH CIO TRUSTEES’ ANNUAL REPORT AND
FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2023
Registered Charity Number: 1184604
ABBEY CHURCH CIO FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2023
| CONTENTS | PAGE |
|---|---|
| Reference and administration details | 1 |
| Structure, Governance & Management | 2-3 |
| Objectives and Activities | 3-4 |
| Achievements and Performance | 4 |
| Financial Review | 5-6 |
| Statement of Trustees Responsibilities | 7 |
| Independent Examiner’s Report | 8 |
| Statement of Financial Activities | 9 |
| Balance Sheet | 10 |
| Notes to the Financial Statements | 11-16 |
ABBEY CHURCH CIO REFERENCE AND ADMINISTRATIVE INFORMATION YEAR ENDED 31 AUGUST 2023
Status
Abbey Church CIO is a Registered Charity, No 1184604 having been registered on 25 July 2019 as a Charitable Incorporated Organisation; it is governed by its Constitution dated 19 June 2019. Previous to 25 July 2019 Abbey Church was part of a Charitable Company, Hillview Evangelical Church [Charity Number 1115938; Company Registration Number 5899178] having been a church plant by Hillview Church in September 1999. Initially it was part of the then Hillview Evangelical Church Trust before Incorporation on 29 August 2006.
The Trustees are pleased to present this report and annual accounts for the reporting period of the Charity from 1 September 2022 to 31 August 2023. The report includes the information required by the Charity SORP FRS102 as a Charity registered in England and Wales.
Trustees
The Trustees who served during the year and since the year end were as follows:
Patricia Murphy Chair of Trustees Mark Bashford also Elder of Abbey Church Philip Ricketts Resigned as trustee; 20[th] July 2023 Andrew Conlan David Wallace Kenneth Hawkins Graham Dancy also Elder of Abbey Church [PT Church Leader]
Charity's principal address
23 Speedwell Close Abbeydale Gloucester GL4 4GQ Agents and Advisors Independent examiner: Joshua Kingston BSc. ACA, Burton Sweet Limited Chartered Accountants, The Clock Tower, 5 Farleigh Court, Old Weston Road, Flax Bourton, Bristol, BS48 1UR Bankers: CAF Bank Ltd, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4JQ Solicitors: Ellis-Fermor & Negus Limited, 2 Devonshire Ave, Beeston, Nottingham, NG9 1BS
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ABBEY CHURCH CIO TRUSTEES ANNUAL REPORT YEAR ENDED 31 AUGUST 2023
STRUCTURE, GOVERNANCE & MANAGEMENT
Organisational Structure
The year commenced with the Board of Trustees being seven personnel in total. Towards the end of the year this was reduced by one with the resignation of Phil Ricketts in 20[th] July 2023 for health reasons.
The appointment of further Trustees continues to be under review with due consideration being given to the Trustee Skills Audit.
The day-to-day management and leadership of Abbey Church is delegated to a team of three Elders who are responsible for providing the leadership to the Church in seeking to achieve the aims of the Charity. Two of these Elders are also trustees.
During the year the Trustees met three times [3 – Ordinary General Meetings] to oversee key aspects of the Charity’s operation; there was also the AGM. Minutes are kept of all meetings of Trustees.
The Church is structured to operate within Ministry Teams to develop, plan and fulfil its programme of activities and events in seeking to achieve the aims and objects of the Charity. These are the Sunday Team, Neighbourhood Team, World Vision Team, Pastoral Care Team and Community Groups Team. In addition, the Charity also employs a part-time Church Administrator.
The Church is led by a team of three Elders who oversee the work of the Church, two of these Elders are employed Part Time, the second being appointed on 17 July 2023, allowing the Teaching, Discipleship and Pastoral work of the church to be resourced appropriately.
Finally, there is also a Finance Team responsible for the financial controls of the activities of the Church. It produces regular management accounts for the Charity and reports to the Trustees at their meetings concerning all financial aspects of the operation of the Charity. The Finance Team also proposes the annual budget following consultation with the leadership of the Church, and it is then approved by Trustees. The team maintains close supervision of the income and expenditure account, as well as capital expenditure items.
Appointment of Trustees
Trustees are normally recruited from persons known to the Trustees. Prior to appointment, potential Trustees are given opportunity to attend a Trustees’ meeting to observe the working of the charity, along with opportunities to discuss their potential involvement more fully. The charity provides every Trustee with an induction pack, which details their legal responsibilities and provides key policies.
Networks and other relationships
Abbey Church has links with national organisations such as Christian Concern, CAP [Christians Against Poverty], Counties UK [Neighbourhood Chaplains], Association of Christian Counsellors,
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ABBEY CHURCH CIO TRUSTEES ANNUAL REPORT YEAR ENDED 31 AUGUST 2023
Partnership UK, as well as with international relief agencies, such as Tearfund, Samaritan’s Purse, and Open Doors. Abbey Church also works locally with other churches, schools and groups in the community.
Risk Management
Trustees aim to maintain a clear understanding of risks, with regular review of policies to ensure these are in line with appropriate standards and legislation. Procedures and policies are put in place to mitigate risks, these include policies for Conflicts of Interest, Safeguarding, Anti Bribery and Corruption, Ethos Statement, Data Protection [GDPR], Diversity and Equality, Health and Safety, Finance and Reserves.
Staff and volunteers are given clear guidance and training for Safeguarding, this includes level 2 training for Safeguarding of Children and Vulnerable Adults, delivered and monitored using an online training and assessment tool. Recruitment of both volunteers and staff are subject to DBS checks where appropriate and all those in roles where safeguarding is a concern have confirmed that they have read and understood our Safeguarding Policies. Our Safeguarding lead has also maintained level 3 training and the charity is supported by ThirtyOne: Eight for Safeguarding guidance and DBS checking.
Trustees have also sought to ensure that their duties under GDPR are being properly discharged.
They also confirm that they have referred to the guidance contained in the Charity Commission's guidelines on public benefit when reviewing the Charity’s aims and objects and in planning future activities.
OBJECTIVES AND ACTIVITIES
The object of Abbey Church CIO is to advance the Christian faith, according to the statement of beliefs and practices of Abbey Church for the public benefit in Gloucester and in such other parts of the United Kingdom or the world as the charity Trustees think fit.
Abbey Church CIO is a registered charity that oversees the work of Abbey Church, first established in 1999. Between then and the formation of Abbey Church CIO, the charity came under the governance of the Charity Company “Hillview Evangelical Church” (HECCo).
The activities of the Charity have the broad aims of seeking to contribute, as appropriate, to the spiritual, physical, social and educational needs of the Abbey Church community, focused on the communities of Abbeymead and Abbeydale in the city of Gloucester. These aim to cater for all age groups from Parent and Toddlers to Senior Citizens. Through its mission support programmes it also seeks to further its objects beyond the immediate communities where Abbey Church operates to other parts of the UK and overseas.
Examples of the current work can be seen on the website www.abbeychurch.net and on our Facebook page. Each of the ministries of the Church are reviewed regularly to ensure the services and activities are effective in connecting with our community. We continue to grow both in new
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ABBEY CHURCH CIO TRUSTEES ANNUAL REPORT YEAR ENDED 31 AUGUST 2023
people attending, particularly at the Sunday morning service, as well as in the development of Church members; training up and developing church members to serve in a greater way. Typically, there are in the region of 100 adults, children and young people at Abbey Church in a Sunday service. As with any church of the type of Abbey, the viability and sustainability of their programmes is almost entirely dependent upon members who give voluntarily and consistently of their time. The wide range of gifts and abilities available combine to produce a volunteer workforce that is effective in contributing to the life of the church, enabling it to achieve the Objects of the Charity. We are extremely grateful to all those who are involved in the church in that way. It is estimated that the value of their contribution in 2022-23, if employed, would have been in the order of £150,000 based on the national minimum wage.
ACHIEVEMENTS AND PERFORMANCE
The use of local halls, including Heron School a primary school within Abbeydale and Abbeydale Community Centre, allows the Church both to meet on Sunday and host other events for Children, families and youth and adults.
This includes our children’s, 6:15 Club, which in addition to games, sport, crafts etc. allow us the opportunity to teach children from the neighbourhood Christian values and biblical principles (6:15 Club have 27 on the register and regularly have about 15 children attend). These continue to be popular, along with groups such as, Abbey Tots (mother and toddler group) and Abbey Baby Club (support for new mums), currently 36 families on the Abbey Tots register and 7 Mums who regularly attend on the baby club register. The average attendance is 29 children. These activities serve as an outreach to families in the area and allow us opportunities to engage with, and support families that would otherwise never connect with Church.
Community engagement pastorally is growing and the work of the Neighbourhood Chaplains team continues; the team along with others in the church have continued to engage in support for families in the area who qualify for ‘Free School Meals’, working alongside the local authority as part of the HAF programme to offer food and activities for families. These activities have taken place during the Christmas (2022), Easter and Summer (2023) holidays; offering 2 days, 1 day and 6 day respectively, offering Christian messages,crafts, games and delicious food!
The church has also continued to periodically run Christianity Explored and Discipleship Explored courses (7 Mums from Abbey Tots took part in the Hope Explored course run in the spring 2023). There are plans to work with CAP (Christians Against Poverty) in 2024 to offer an introduction to budgeting course.
The work of the church requires resources, including staff team and volunteers and accommodation for our regular activities. Whilst the use of existing public spaces are well used by the Church, the accommodation needs of the Church are in constant review, with all potential opportunities for a space belonging to the Church being considered. This included a potential school space that was advertised for sale and various small retail spaces in the area.
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ABBEY CHURCH CIO TRUSTEES ANNUAL REPORT YEAR ENDED 31 AUGUST 2023
FINANCIAL REVIEW
Reserves Policy
The Trustees have considered a Reserves Policy for Abbey Church CIO and established that the Charity should hold free reserves of at least £25,000, or the equivalent of at least 3 months of the essential operating costs of the Charity.
Free reserves are defined as unrestricted or general funds held by the Charity but not committed or invested in tangible fixed assets. This level of free reserves gives the Trustees and Leaders the opportunity and time to make appropriate decisions to rectify the situation should unexpected costs arise or a material drop in income occur.
The free reserves held at the period-end are £233,475 The level of reserves compared to operating expenditure is due to the intention of the Charity to undertake building work, the cost of which is likely to exceed significantly the level of reserves held.
Financial Review
The financial statements show that the total income of the Charity was £113,775 (2022: £91,034). As will be seen from Note 2, the majority of this was from General Offerings amounting to £74,552 with associated income from tax refunds (Gift Aid) of £14,742; this would indicate that more than 80% of the general offerings were donated in a tax-efficient manner. The balance of total income came from a legacy [£10,000], Charitable activities Income [£9,158], Grants [£2,004] and Interest [£3,319]. It is noted that the reserves attracted a higher level of interest (3 times the previous year) which is due to the current economic circumstances.
Total expenditure was £98,648 resulting in a net surplus for the financial year of £15,127. This Compared to a Net Deficit of £718 in the previous year. The general income of the church would in fact be able to meet the level of expenditure, even without the legacy and additional interest from reserves.
Regarding Expenditure, the total amount for 2022 was £91,752, compared with £98,648 for 2023 – an increase of £6,896. As shown by the statement of financial activities [page 9] and Note 4 this was mainly due to a significant increase in ministry costs. The majority of that due to a raise in accommodation costs and increased use of rented accommodation.
In considering the expenditure on Charitable Activities it can be seen from Note 4, that overall, about 90% was actually activity-related with about 10% related to support costs. In addition, it can also be seen that Grants of £10,000 were made for Christian work; this can be seen in greater detail in Note 5 where there is an analysis of these grants. It is the aim of the Charity to make grants equating to about 10% of the combined total of general offerings [unrestricted] and associated income from tax refunds (Gift Aid); from Note 2 this can be seen to be £89,294 – the actual total of grants therefore exceeded this aim.
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ABBEY CHURCH CIO TRUSTEES ANNUAL REPORT YEAR ENDED 31 AUGUST 2023
In summary, Note 14 shows the free reserves of the Charity as at 31 August 2023 to be £233,475 – these are all stated as Unrestricted Funds. [Note : £218,348 for 2022]
The Trustees continue therefore to be both, pleased, grateful and encouraged that Income has almost enabled all costs to be met.
Restricted Fund [See also note 16]
In the arrangements for the divisions of assets agreed between Hillview Evangelical Church (Charitable Company) and Abbey Church CIO there was a balance remaining from the Restricted Fund intended for a building project that will not now proceed. This amounts to £29,320 and is being retained by Hillview until such time as the fund can become Unrestricted. This is currently with the “Complex Cases” team at the Charity Commission, which due to their workload is not expected to be concluded until late 2024.
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ABBEY CHURCH CIO TRUSTEES ANNUAL REPORT YEAR ENDED 31 AUGUST 2023
Statement of trustees’ responsibilities
The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping sufficient 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, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed/constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of Trustees on 16 June 2024 and signed on its behalf by:
.................................
Patricia Murphy (Chair of Trustees)
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ABBEY CHURCH CIO INDEPENDENT EXAMINER’S REPORT YEAR ENDED 31 AUGUST 2023
Independent examiner’s report to the trustees of Abbey Church CIO
I report to the trustees on my examination of the accounts of Abbey Church CIO (the Charity) for the year ended 31 August 2023.
Responsibilities and basis of report
As the charity trustees of the Charity 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 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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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.
Joshua Kingston BSc. ACA Burton Sweet Chartered Accountants The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR
Date: 16 June 2024
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ABBEY CHURCH CIO
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 AUGUST 2023
| Note Income from: Donations and legacies 2 Charitable activities 3 Investments Total income Expenditure on: Charitable activities 4 Total expenditure Net income/(expenditure) and 7 net movement in funds Total funds at the start of the period 13 Total funds at the end of the period 13 |
Unrestricted Funds £ 101,298 9,158 3,319 113,775 98,648 98,648 15,127 218,348 233,475 |
Restricted Funds £ - - - - - - - - - |
Year ended 31 Aug 2023 £ 101,298 9,158 3,319 113,775 98,648 98,648 15,127 218,348 233,475 |
Year ended 31 Aug 2022 £ 80,434 9,518 1,082 91,034 91,752 91,752 (718) 219,066 218,348 |
|---|---|---|---|---|
The charity has no recognised gains and losses other than the results for the year as set out above
All of the activities of the charity are classed as continuing
See prior period fund comparatives in note 9 The notes on pages 11 to 16 form part of these financial statements
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ABBEY CHURCH CIO
BALANCE SHEET
AS AT 31 AUGUST 2023
| Note Current assets Debtors 11 Cash at bank and in hand Creditors : Amounts falling due within one year 12 Net current assets Net assets Funds Unrestricted funds 14 |
As at 31 Aug 2023 £ 9,550 232,753 242,303 (8,828) 233,475 233,475 233,475 233,475 |
As at 31 Aug 2022 £ 2,787 218,483 221,270 (2,922) 218,348 218,348 218,348 218,348 |
|---|---|---|
These financial statements were approved by the trustees on 16 June 2024 and are signed on their behalf by:
……………………………………… ……………………………………… Patricia Murphy (Chair of Trustees) Mark Bashford (Trustee, Finance Team)
The notes on pages 11 to 16 form part of these financial statements
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ABBEY CHURCH CIO
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2023
1 Accounting policies
- a) The 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) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.
The accounts (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 required to provide a ‘true and fair view’. This departure has involved following 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) 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.
The charity is a public benefit entity as defined under FRS102.
There are no material uncertainties about the Charity’s ability to continue as a going concern, despite the significant uncertainty being caused by the economy with many rising costs, the Trustees expect little to no impact with our current operations having very little cost liabilities, with any additional costs to these operations to be minor. It is also recognised that the charity has sufficient reserves to be able to meet most challenges
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b) Income from donations are included when these are receivable, except as follows:
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i) When donors specify that donations given to the charity must be used in future accounting periods, the income is deferred until those periods.
ii) When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred until the pre-conditions have been met.
Legacies are recognised when the charity is legally entitled to the legacy and the amount can be quantified with reasonable accuracy. Entitlement is regarded as the earlier of the charity being notified of an impending distribution or the legacy being received.
- c) Expenditure is recognised in the period in which it is incurred. Expenditure includes attributable VAT which cannot be recovered.
Most expenditure is directly attributable to specific activities and has been included in those cost categories. Support costs have been allocated 100% towards the charitable activities of the charity.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examination fees and costs linked to the strategic management of the charity. Governance costs are included within support costs.
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d) Rentals applicable to operating lease agreements where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight-line basis over the period of the lease.
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e) Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
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f) Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
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g) 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.
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h) Unrestricted funds can be used in accordance with the charitable objects at the discretion of the Trustees.
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i) 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.
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ABBEY CHURCH CIO
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2023
2 Donations and legacies
| General offerings Grants Income tax refunds Legacies |
Unrestricted Funds £ 74,552 2,004 14,742 10,000 101,298 |
Restricted Funds £ - - - - - |
Year ended 31 Aug 2023 £ 74,552 2,004 14,742 10,000 101,298 |
Year ended 31 Aug 2022 £ 66,561 2,004 11,869 - 80,434 |
|---|---|---|---|---|
Prior Year Comparatives were all represented by unrestricted funds
3 Income from: charitable activities
| Event income | Unrestricted Funds £ 9,158 9,158 |
Restricted Funds £ - - |
Year ended 31 Aug 2023 £ 9,158 9,158 |
Year ended 31 Aug 2022 £ 9,518 9,518 |
|---|---|---|---|---|
Prior Year Comparatives were all represented by unrestricted funds
- 4 Expenditure on: charitable activities
| Grants for Christian work (see note 5) Church workers Ministry costs Training Event expenses Support costs Safeguarding costs Insurance Printing, postage and stationery Accountancy fees Fees and Subscriptions Equipment Miscellaneous Governance costs (see note 6) |
Unrestricted Funds £ 10,000 36,085 10,511 1,021 30,986 232 477 235 184 1,219 5,789 25 1,884 98,648 |
Restricted Funds £ - - - - - - - - - - - - - - |
Year ended 31 Aug 2023 £ 10,000 36,085 10,511 1,021 30,986 232 477 235 184 1,219 5,789 25 1,884 98,648 |
Year ended 31 Aug 2022 £ 9,100 35,262 4,361 818 32,452 154 620 27 173 1,226 5,599 550 1,410 91,752 |
|---|---|---|---|---|
Prior Year Comparatives were all represented by unrestricted funds
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ABBEY CHURCH CIO
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2023
5 Analysis of Grants
----- Start of picture text -----
|||||
|---|---|---|---|
|Year ended|Year ended|
|31 Aug 2023|31 Aug 2022|
|£|£|
|To Institutions|
|Gloucester City Mission|1,200|1,200|
|Armonia Trust UK|880|880|
|Ambassadors Football|1,380|1,380|
|Ifes Trust|900|900|
|Friends of Turkey|3,100|1,200|
|Open doors|900|900|
|Echoes International [Giovanni and Hannah Donato]|1,140|1,340|
|Frontiers|-|400|
|Moldova Orphanage [Anatolli and Corinne Natic-Anbeek]|-|500|
|Young Soo|250|-|
|To Individuals|
|Hannah Coggins|250|400|
|10,000|9,100|
|6|Governance costs|
|Unrestricted|Restricted|Year ended|Year ended|
|Funds|Funds|31 Aug 2023|31 Aug 2022|
|£|£|£|£|
|-|
|Independent examiner's fees|1,884|1,884|1,410|
|-|
|1,884|1,884|1,410|
----- End of picture text -----
7 Net income/(expenditure)
----- Start of picture text -----
||||
|---|---|---|
|Year ended|Year ended|
|This is stated after charging|31 Aug 2023|31 Aug 2022|
|£|£|
|Independent Examiner's fee:|
|- for Independent Examination|846|768|
|- for Accounts Preparation|1,038|942|
|-|
|- Under/ (Over) Accrual in Previous Year|(300)|
|- for Other Services|184|173|
----- End of picture text -----
8 Staff costs and numbers
----- Start of picture text -----
||||
|---|---|---|
|The aggregate staff costs were|Year ended|Year ended|
|31 Aug 2023|31 Aug 2022|
|£|£|
|Wages and salaries|33,118|32,217|
|Pension costs|2,787|2,900|
|35,905|35,117|
----- End of picture text -----
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ABBEY CHURCH CIO
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2023
8 Staff costs and numbers (continued)
No staff received employment benefits of more than £60,000.
The average number of staff (headcount) during the year was 2 (2022: 2).
The total aggregate employment benefits received by key management personnel were £24,323 (2022: £22,136). The key management personnel are the Trustees and members of senior management who report to the Trustees. Aggregate donations from Trustees, key management personnel and other related parties were £27,130 (2022: £24,420).
No expenses were paid to trustees during the current or prior year.
9 Comparative Statement of Financial Activities
| Income from: Donations Charitable activities Investments Total income Expenditure on: Charitable activities Total Expenditure Net income/(expenditure) and Net movement in funds Total funds at the start of the period Total funds at the end of the period |
Unrestricted Funds £ 80,434 9,518 1,082 91,034 91,752 91,752 (718) 219,066 218,348 |
Restricted Funds £ - - - - - - - - |
Year ended 31 Aug 2022 £ 80,434 9,518 1,082 91,034 91,752 91,752 (718) 219,066 218,348 |
|---|---|---|---|
10 Taxation
The charity is exempt from corporation tax on its charitable activities.
11 Debtors
| Other debtors 12 Creditors: amounts falling due within one year Accruals Other creditors |
31 Aug 2023 £ 9,550 9,550 31 Aug 2023 £ 1,884 6,944 8,828 |
31 Aug 2022 £ 2,787 2,787 31 Aug 2022 £ 1,710 1,212 2,922 |
|---|---|---|
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ABBEY CHURCH CIO
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2023
13 Movements in funds
| As at 31 August 2023 Unrestricted Funds General funds Total funds Prior Year Comparative As at 31 August 2022 Unrestricted Funds General funds Total funds |
As at 1 Sept 2022 £ 218,348 218,348 As at 1 Sept 2021 £ 219,066 219,066 |
Income £ 113,775 113,775 Income £ 91,034 91,034 |
Expenditure £ (98,648) (98,648) Expenditure £ (91,752) (91,752) |
Transfers £ - - Transfers £ - - |
As at 31 Aug 2023 £ 233,475 233,475 As at 31 Aug 2022 £ 218,348 218,348 |
|---|---|---|---|---|---|
| 14 Analysis of net assets between funds As at 31 August 2023 Unrestricted Funds General funds Total funds Prior Year Comparative As at 31 August 2022 Unrestricted Funds General funds Total funds |
£ 233,475 233,475 £ 218,348 218,348 Other Net Assets Other Net Assets |
Total £ 233,475 233,475 Total £ 218,348 218,348 |
|---|---|---|
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ABBEY CHURCH CIO
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2023
15 Related party transactions
Mark Bashford, David Bradford, Andrew Conlan, Kenneth Hawkins, Christopher Wintle, Roger and Hazel Chilvers, trustees and related parties received payments of £500 [2022: £400]; £Nil [2022: £100]; £500 [2022: £800]; £400 [2022: £200]; £300 [2022: £Nil]; £500[2022:£NIL] respectively for speaking services at Abbey Church.
These payments are permitted under the Memorandum & Articles of Association.
There are no other related party transactions apart from those already disclosed.
16 Donation of assets and liabilities
On 1 September 2019, the Trustees of Hillview Evangelical Church, charitable company (registration number: 05899178) moved the trade and assets of the Abbey Church into the newly constituted CIO. The impact of this event has been that Abbey Church CIO was gifted an agreed sum of £201,717 of the Abbey Church assets at that date.
The carrying values of the assets and funds transferred were:
| Net Assets: Cash in hand and on deposit Funds: Unrestricted general funds |
£ 201,717 201,717 |
|---|---|
The total asset transfer amounts to £231,037, the difference of £29,320 relates to a restricted fund. Hillview Evangelical has applied for the fund to be derestricted by the Charity Commission. The funds will be transferred to Abbey Church CIO once this process has been approved.
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