2021-12-31-accounts

Charity Registration No. 1184841

Company Registration No. 11063630 (England and Wales)

BELMONT EXETER

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

BELMONT EXETER

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees	D Northcote-Passmore
	C Naish
	J Airdrie
	A Heron
	D Knowles
	J Luckham
	P Phillips
	H Stevens
	P Winfield
	C Hughes	(Appointed 26 September 2021)
	S Richards	(Appointed 26 September 2021)
	S Flint	(Appointed 26 September 2021)
Charity number	1184841
Company number	11063630
Principal address	Belmont Chapel
	Western Way
	Exeter
	Devon
	EX1 2DB
Registered office	Belmont Chapel
	Western Way
	Exeter
	Devon
	EX1 2DB
Independent examiner	Mr J L Coombs MA (Cantab) FCA
	Simpkins Edwards LLP
	Michael House
	Castle Street
	Exeter
	Devon
	EX4 3LQ

BELMONT EXETER

CONTENTS

	Page
Trustees' report	1 - 8
Independent examiner's report	9
Statement of financial activities	10
Balance sheet	11
Notes to the financial statements	12 - 20

BELMONT EXETER

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2021

The trustees present their report and financial statements for the year ended 31 December 2021. In the prior year, the charity changed its legal structure from an unincorporated trust to a company limited by guarantee.

The financial statements have been prepared in accordance with the accounting policies set out in the note s to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and activities

The objectives of the trust as set out in the Memorandum and Articles are :

The propagation of the Christian faith through the presentation of the Christian message and the running of services and other events in the locality of Western Way, Exeter. These events are open to the public and people are invited to attend .

The relief of hardship, poverty, loneliness through Christian service in our own community and further afield as deemed appropriate by the trustees.

To provide facilities for social welfare of people who have need by reason of youth, poverty, social or economic circumstances.

The practice of the Christian faith both at the building, throughout the area by the individual Christians, and further afield by the support for mission partners, social and charitable enterprises.

The trust provides staff, funding and buildings to be used for the advancement of these objectives. The trust ensures that the church using the facilities has beliefs which are those specified in the deed.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

The following are an example of our activities which are open to all :

• Toddler groups across the week with over 100 registered children attending with parent or carer

• Group for new-borns and their parents

• Basic English language tuition and information café supporting people who have limited English language ability

• Weekly activity for older people from the community, including games, trips out, quizzes, conversation, a meal. Often these older people will be visited personally on other occasions

• Courses to support marriages

• Christian worship accessible to all ages

• Support of a refugee resettlement programme

• Courses and events for those exploring the Christian faith

Local groups for people to develop in their Christian faith and be encouraged to serve neighbours, workplaces, and community either individually or through serving in other groups.

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BELMONT EXETER

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

The church aims to share the good news of Christianity and to equip people to live out this good news in every area of life. We summari s e this in our mission statement ‘Sharing the Story, Living the Life’.

Our strategy to do this is to demonstrate the good news of Christianity in our actions and activities, to provide

opportunities for encounter with Christians, and to explore further the claims of Christianity.

We teach, train, equip and encourage those who are followers of the Lord Jesus Christ. We provide opportunities for people to develop and utilise their abilities, gifts and resources in the service of the Lord Jesus and his command to go to all peoples with his gospel.

We provide staff and facilities for the church to use to advance these objectives. The trust regularly reviews its staffing levels and plans, and when finances permit, to increase its activities and consider staff appointments in areas which require more time than is available from volunteer commitments.

In 2021, the ongoing coronavirus pandemic across the world continued to present challenges and opportunities for the ways in which the church could fulfill these objectives. The extended lockdown period from Jan uary 2021 to Mar ch 2021 was a demanding time for individuals and for the church. From Apr il 2021, there has been a relaxation of restrictions and the church began meeting for in-person activities from early May 2021. In Sept ember 2021 we introduced a new format for our Sunday meetings to encourage community building and hospitality for many who had been isolated during the pandemic. Other highlights of the year are listed below.

The continued restrictions on meeting in the first half of 2021 meant much of our community work was expressed through local neighbourhood groups (Home Groups). The staff and leadership teams provided pastoral support as well as appropriate activities throughout the year. Our working principle to managing COVID risks has been to consider others needs before the needs of our programme and activities.

Significant Activities during the Year

In March 2021 we appointed Drew Rawson to the role of Facilities Manager, a role that had previously been carried out by a volunteer. There has been significant work in this area to restart the use of the buildings in areas of operations, health and safety, as well as re-establishing volunteer teams.

We were able to host several ‘pop-up’ COVID vaccine clinics during the autumn.

The Alpha course moved to a mixture of online and in-person meeting and saw good interest and engagement. We’re pleased to have been able to share the truth and joy of the gospel in person.

Our Third Age ministry developed further the Dementia Café provision working with the Devon Memory Café Consortium.

As we returned to in-person services we took the opportunity to review our Sunday meeting formats. We established a pattern of regular hospitality lunches in order to reconnect the church community to each other, and also to provide an informal mean s by which people could meet. We’ve continued to review and develop our Sunday formats as COVID regulations and procedures have changed.

We make significant investment in supporting young families, especially parents of new born babies. This is done through one-to-one support as well as sessions. We’ve started a new groups to provide a calmer and quieter environment for those with children not yet ‘toddling’.

We’ve reviewed our governance procedures and have added three new trustees who are also members of the Leadership Team. We’ve agreed role descriptions for the chair and secretary roles in the trustee group, and also procedures for preparing and running trustees meetings.

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BELMONT EXETER

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Other ongoing activities

Our Sunday services are attended by people across all ages. This has continued in our online format. We pre-record a service for broadcast via YouTube. This premiere is supported by an online welcome team and other media to enable connection and follow up. There are also video meeting formats provided for greater interaction in prayer. The evening service is operating in a video conference environment.

The services continue to be open to all people. They are an opportunity to present and demonstrate to the gospel, encouraging any who do not believe to consider the claims of Christ. Our services include times of sung worship, learning from God’s word, praying for others. We have included many more personal stories as a result of being able to include video format. People have been encouraged to serve in their local community throughout the series of lockdowns.

The church depends on every member’s active involvement in the life of the church. Volunteers provide skills and time to enable the activities to be done in support of the objects of the charity. The voluntary workers are all church members. Voluntary workers carry out their tasks in a variety of ways . Some teach, some preach, some carry out financial and administrative work for the church, others do skilled manual work to maintain the buildings and provide technical or professional expertise. This is a significant amount of time for which we are very grateful.

We have 25 local groups (Home Groups) which meet twice a month. These groups provide space for personal growth in Christian faith as well as care for each other through everyday circumstances. Throughout the pandemic these groups have been critical to maintaining a sense of connection and encouragement in following Jesus. The group leaders have been supported by the Fellowship Team .

Achievements and performance

Our contact worker programme has been running for over 20 years. Contact workers, undertake a range of activities and receive theological and other related training, for approximately half the week. The remainder of their working week they find employment in the local community. In 2020/21 there are two contact workers, Alena Lüling and Louisa Collier who have worked within the constraints of lockdowns, and have made a huge contribution to the activities and session content through the latter part of 2020 and 2021.

We employ staff in roles where particular or dedicated expertise is needed to develop and support ministry activity and leadership in the church.

The staff employed (part or full time) in the year 2021 were:

Amy Davis as Family Support worker Karen Fulls as Office Administrator Nick Goldsworthy as Teaching and Programme Leader Jon Hancock as Youth Work Leader Jenny Hudson as Students and Young Adults Team Leader Clive Hughes as Church Manager Rachel Morris as Young Families Team Leader Laura Rawson as Pastoral Care Coordinator (started November 2020) Simon Richards* as Ministry Development Leader (1115) (returned from sabbatical in May 2021) Drew Rawson as Facilities Manager (started March 2021)

Note: * = members of Leadership Team. The current staff compromises 8.1FTE, head count 10.

All staff have supervision arrangements for day to day working, and can also access professional counselling supervision where this is relevant to the work undertaken.

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BELMONT EXETER

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Buildings Health and Safety:

The church buildings are all used extensively by church members and others. The trustees are pleased to report again that there have been no serious accidents during this year requiring reporting under RIDDOR.

The church is attended by several medical professionals as well as staff and key volunteers who, having received first aid training, are normally first call for any incidents.

The most recent inspection of our main kitchen was carried out in September 2021 when our Food Hygiene

rating remained at ‘5’.

The conditions of the premises are under constant review by the maintenance team and remedial work carried

out as soon as is practicable.

As lockdown restrictions were eased in the summer and autumn, the Support Team provided procedures and resources to enable meetings and services to take place within the government guidelines.

Buildings Works:

The trust has the power to maintain the original chapel buildings which are subject to the building trust known as 'Belmont Chapel Trust Deed' and Registered by the Registrar General (No:65399). The chapel buildings are freehold and held by the building trust.

As in previous years , volunteers from within the church have done work for the trust during the current year, although there have been fewer projects, there has been extensive work in good building maintenance whilst not in use. The trustees are very grateful for their help. The trustees are very appreciative of the major amount of time, effort and expertise contributed by the members in cleaning and maintaining the fabric and technical equipment in the building.

Whilst the building has not been used the team have taken opportunity to carry out some maintenance tasks. There is a rolling programme of maintenance to ensure the buildings are suitable for the ministry needs of the church. Larger developments are considered as part of the annual planning activity undertaken by the Ministry Teams and the Leadership Team.

Financial review

The church is dependent up on the generous financial giving of individuals that attend. We are grateful for this faithful and sacrificial act of discipleship. A COVID Support fund was set up in 2020 to help those in the fellowship facing financial hardship as a result of the pandemic. Donations and gifts have continued throughout the year. We planned a shortfall on the year as we appointed two staff posts to help us as we restarted activities as lockdown restrictions eased. These fixed-term posts are funded from reserves and the need for the roles and how they are funded will be reviewed in 2022. In 2021 we received a generous legacy of £40,100 which has helped to cover ongoing costs and the additional salary.

The finances are constantly under review so that appropriate action can be considered should there be any significant changes in income or expenditure. The aim of the church is to keep people informed with regard to financial needs through regular updates at the church meeting, appealing for increased giving when necessary. A budget has been submitted for 2022.

The buildings are provided primarily for use by the church and not as an investment for the trust. Where it is necessary to hold large sums of money, such as reserves for contingency and specific projects, the maximum balance in any financial organisation should not exceed £85,000.

The Trustees have adopted the following definition and policy definitions in respect of reserves.

"Reserves" are the resources of the trust that it has or can make available to spend for all or any of the trust's purposes once it has met its commitments and covered its other planned expenditure.

The Trust shall retain reserves to provide for 3 months contractual costs i.e. salaries and other contractual long-term commitments. Any surplus to this which is not part of planned income and expenditure is ‘free reserves’.

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BELMONT EXETER

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

If there were a shortfall in the budgeted income then reserves could be used to cover this shortfall along with appropriate cutbacks to ensure that the expenditure did not run ahead of income, or there would be an appeal to the church to reconsider their level of giving, taken over the accounting period as a whole. If there were a surplus of income over budgeted income then the surplus would be used in providing further activities for the church, initiating ministry projects, or specific larger scale replacements or renewals or in any other way that was considered appropriate at the time. On 31 December 2021, the trust held £1, 112,531 in general funds including Fixed Assets.

As at 31 December 2021 the cash reserves (i.e. these reserves not represented by fixed assets) of the charity stood at £230,1 4 3 and were split as follows:

Contingency (3 months salaries & contracts) £41,000 Free reserves £189,1 4 3

As part of our participation in the wider mission of the Christian church we make donations to others in support of their activity. Gifts are made to three main classes of recipients:

Firstly, to charitable organisations with object ives similar to those of the trust; second to those individuals who are missionaries or retired missionaries from the church; and third to church members on short term missions at home or abroad to assist with their expenses. Exceptionally, other grants may be made to individuals in appropriate circumstances. Donations are considered at the beginning of each year by the church leadership team. The team recommend to the trustees the intended recipients and the amount of each grant, and the grants are thereafter made throughout the year. This policy is reconsidered annually.

The list of beneficiaries in 2021 is included in the notes to the financial accounts .

Child protection :

The safeguarding procedures have been working well during the year. The trust subscribes to ‘thirtyone:eight’, through which it processes DBS checks for all staff and volunteers working with Young people and vulnerable adults. ‘thirtyone:eight’ are also a point of reference for child protection issues and provide assistance and guidance for safeguarding policies. The procedures employed by the trust are considered appropriate and proportionate and are now generally accepted and have become part of the culture of the church. 'The Safeguarding Policy', formerly ‘The Churches Child Protection Policy’ was reviewed and issued in its new form during 2018. This policy is due for review and update in 2022.

Vulnerable adults:

A policy for working with Vulnerable adults was finalised during 2014 and guidance for volunteers working with vulnerable people issued to appropriate individuals.

Data Protection

The trust is registered under the Data Protection Act 1998 number Z742023X. The trust and church database is now held within ‘Churchsuite’ and updated by authorised staff & volunteers. Individuals are able to gain access to check and update their own personal details through conventional IT channels, and also use its facilities to contact others who have given permission for their details to be held on the database.

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BELMONT EXETER

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Compliance

All the buildings owned and controlled by the trust are registered with the Registrar General. The registration numbers are for solemnisation of marriages: 31733 and under the Places of Worship Registration Act 1855: 65399.

The trust, which deals with the funds, is registered with the Charity Commission, and the accounts for last year (and the other documents required) were lodged with the Commission. Copies of the accounts and reports of the trustees and independent examiners are made available to church members and others upon request. The accounts for the year under review have been independently examined. The present building trust does not need to be registered with the Commission because it is already registered under the 1855 Act.

The church has the necessary copyright licences to permit musical performance and the use of words and music related to songs, and the playing of recorded music and video images, and also the inclusion of this content in online service formats.

Risks

The trustees have in respect of the year ending 31 December 2021:

• given consideration to the major risks to which the trust is exposed and systems designed to mitigate those risks and;

• certified that the major risks to which the trust is exposed, as identified by the trustees, have been reviewed and that systems have been established to mitigate those risks.

The trustees recognise the following key risks to the ability of the church to continue to achieve its objectives :

• False Teaching: teaching which diverges from the EA statement of faith would lead people away from serving the Lord Jesus Christ with a consequent impact on the activities of the charity. There are team structures and feedback mechanisms to oversee those who provide Sunday teaching.

• Division: A significant split and irreconcilable division within the fellowship would severely impact upon the number of volunteers. Team working, frequent and open communication provides the way by which differing views can be heard. We have a policy of ‘living with difference’ to help us to accept and honour those who see things differently.

• Safeguarding: Abuse of any kind would have a serious impact on the reputation of the church and its witness in the community (aside from the impact on individuals concerned). We regularly review our safeguarding policy. We provide training to those who work with vulnerable groups.

• Reduction of donated income and donated time: household budgets are under pressure resulting from the pandemic and consequential economic impact, this along with a reducing availability of volunteer time upon which so much depends would have significant impact on the mission. We address this risk through regular invitation to review giving, to participate in activities as helpers.

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BELMONT EXETER

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Structure, governance and management

The name of the charity is Belmont Exeter .

The governing documents are the trust deed dated 14 th November 2017 The charity is registered with the Charity Commissioners and the registration number is 1184841, and with Companies House, registration number 11063630. The trust uses three working titles: “Belmont Exeter”, "Belmont Chapel" and "Belmont" .

The address of the principal office of the charity is Belmont Chapel, Western Way, Exeter, Devon, EX1 2DB.

The bankers are CAF Bank and Lloyds Bank, and the independent examiner, Simpkins Edwards LLP, Chartered Accountants, Michael House, Castle Street, Exeter EX4 3LQ. Solicitors are appointed as required .

The trustees may invest in any investments authorised by law for trust funds , in respect of the redemption of loans or mortgages or the repair or maintenance of Belmont Chapel building. The trustees may also deposit money in building societies and trustee savings banks in the UK or any bank in England.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

D Northcote-Passmore

C Naish J Airdrie A Heron D Knowles J Luckham P Phillips H Stevens I White (Retired 14 February 2021) P Winfield C Hughes (Appointed 26 September 2021) S Richards (Appointed 26 September 2021) S Flint (Appointed 26 September 2021)

Treasurer: Clive Hughes (Church Manager)

Trustees are appointed in accordance with governing documents. In practice the serving trustees appoint new trustees by resolution at a meeting at which the quorum, for that purpose, is 6.

New trustees are invited to attend a meeting to meet the existing trustees and to discuss their appointment. The following documents are provided to assist in their new role as trustees:

• a) The Charity Commission Publication "The Essential Trustee - What you Need to Know".

• b) A copy of the Trust Deed.

• c) A copy of the last financial statements.

• d) A copy of the last minutes.

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BELMONT EXETER

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Conclusion

The trustees are pleased to report that the trust continues to meet its long term objectives, and has made significant progress in fulfilling its objectives in 2021 in the face of on going global challenges. The trustees are looking forward, if the Lord wills, to 2022 as we continue to serve our community and proclaim the good news of hope.

The trustees' r eport was approved by the Board of Trustees.

D Northcote-Passmore

Trustee Dated: 30 June 2022

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BELMONT EXETER

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BELMONT EXETER

I report to the trustees on my examination of the financial statements of Belmont Exeter (the charity) for the year ended 31 December 2021.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act) . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5) (b) of the 2011 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 member of The Institute of Chartered Accountants England and Wales, 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 that in any material respect:

• 1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

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

• 3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

• 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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 financial statements to be reached.

Mr J L Coombs MA (Cantab) FCA

for and on behalf of Simpkins Edwards LLP

Michael House Castle Street Exeter Devon EX4 3LQ

Dated: 6 July 2022

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BELMONT EXETER

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021

		Unrestricted Unrestricted	Unrestricted Unrestricted
		funds	funds
		2021	2020
	Notes	£	£
Income from:
Donations and legacies	2	405,569	392,695
Charitable activities	3	4,640	3,232
Other trading activities	4	2,186	4,956
Investments	5	708	749
Total income		413,103	401,632
Expenditure on:
Charitable activities	6	411,200	387,987
Other Expenditure	8	22,566	14,306
Total resources expended		433,766	402,293
Net expenditure for the year/
Net movement in funds		(20,663)	(661)
Fund balances at 1 January 2021		1,133,194	1,133,855
Fund balances at 31 December 2021		1,112,531	1,133,194

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

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

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BELMONT EXETER

BALANCE SHEET

AS AT 31 DECEMBER 2021

Notes Fixed assets Tangible assets 11 Current assets Debtors 12 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total assets less current liabilities Income funds Unrestricted funds	2021 £ £ 882,388 17,702 223,867 241,569 (11,426) 230,143 1,112,531 1,112,531 1,112,531	2020 £ £ 900,224 18,661 227,726 246,387 (13,417) 232,970 1,133,194 1,133,194 1,133,194

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2021.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Directors have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 30 June 2022

D Northcote-Passmore

Trustee

Company Registration No. 11063630

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BELMONT EXETER

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

Charity information

Belmont Exeter is a public benefit entity and a registered charity in England and Wales , and is incorporated , being a company limited by guarantee. The address of the principal office is Chair of Trustees, Western Way, Exeter, EX1 2DB.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

All income is included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

• Voluntary income is received by way of offerings, donations, gifts and legacies and is included in full in the Statement of Financial Activities when receivable.

• lnvestment income is included when receivable.

• Other income is included when receivable.

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BELMONT EXETER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates:

• Costs of generating funds comprise the costs associated with attracting voluntary income.

• Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries.

• Other costs include those costs associated with meeting the constitutional and statutory requirements o f the charity.

• All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resources. Costs relating to a particular activity are allocated directly and others are apportioned on an appropriate basis.

• Grants are considered at the beginning of each year by the Church leadership team. The team recommend to the trustees the intended recipients and the amount of each grant, and the grants are thereafter made throughout the year. This policy is reconsidered annually. Further details and grants payable may be found in Note 7.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses. Assets transferred from the unincorporated charity have been transferred at their initial cost.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings Over 50 and 15 years straight line Plant and equipment Over 3 and 5 years straight line Lease Over 125, 15 and 10 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities .

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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BELMONT EXETER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

(Continued)

1.8 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity 's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity ’s contractual obligations expire or are discharged or cancelled.

1.9 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

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BELMONT EXETER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

2 Donations and legacies

	Unrestricted	Unrestricted
	funds	funds
	2021	2020
	£	£
Donations and gifts	47,195	62,092
Legacies receivable	40,100	14,000
Gift Aid recoverable	62,970	61,641
Gift Aid donations	255,304	254,962
	405,569	392,695

3 Charitable activities

	Charitable	Charitable
	Income	Income
	2021	2020
	£	£
Third age	754	1,251
Special events	141	410
Youth work	283	91
Young families	3,462	1,480
	4,640	3,232
Other trading activities
	Unrestricted	Unrestricted
	funds	funds
	2021	2020
	£	£
Income from buildings	2,186	4,800
Miscellaneous income	-	156
	2,186	4,956

4 Other trading activities

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BELMONT EXETER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

5 Investments

	Unrestricted	Unrestricted
	funds	funds
	2021	2020
	£	£
Interest receivable	708	749
Charitable activities
	Charitable	Charitable
	Expenditure	Expenditure
	2021	2020
	£	£
Staff costs	217,794	197,648
Depreciation and impairment	53,118	56,468
Child protection	417	291
Sunday program	10,169	9,822
Literature and resources	679	2,210
Care support and f ellowship t eam	322	3,494
Training	10,028	10,800
Third age	1,248	1,484
Special events	312	529
Young adults	1,014	402
Under eighteens	2,320	1,942
Young families	2,900	2,774
Electricity	3,566	3,991
Gas	3,337	3,766
Water	763	1,283
Insurance	7,344	5,288
Repairs and renewals	23,140	15,214
General running costs	304	658
Catering	565	-
Computer costs	2,840	1,657
Printing and stationery	899	593
Telephone	1,883	1,871
Copyright	2,073	2,037
	347,035	324,222
Grant funding of activities (see note 7)	64,165	63,765
	411,200	387,987

6 Charitable activities

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BELMONT EXETER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

7 Grants payable

	Charitable	Charitable
	Expenditure	Expenditure
	2021	2020
	£	£
Grants to institutions:
European Christian Mission	12,000	-
Evangelical Alliance	1,000	1,000
ECU	3,000	3,000
Exeter ICE Charitable Trust	5,000	5,000
Devon and Exeter Manna House	650	650
Partnership (UK) Ltd	1,000	1,000
Bernard's Acres	1,500	1,500
Devon Christian Youth Camps	650	650
YMCA Exeter	2,000	2,000
Harris WE	2,500	-
Rainbow Living	2,500	2,500
A Rocha UK	500	500
UCCF: In support of General Funds	2,000	2,000
CTAX (Christians across Exeter)	600	600
King's House Children Centre	1,500	-
Tear Fund	2,000	2,000
Scripture Union	225	225
Faith in Kids	1,000	-
Open Doors UK & Ireland	2,000	-
France Mission	2,500	2,500
Exeter Food Bank	500	1,500
SWYM	1,000	1,000
Crossline Soup Kitchen	750	750
Friends International	5,000	2,750
Newtown Primary School	5,790	-
Exeter Community Sponsorship Group	4,350	-
Devon United Missionary Offering	650	650
Urban Saints	-	1,000
Operation Mobilisation	-	20,040
Asifunde Sanke	-	2,000
Sundry Small Gifts	-	2,950
	62,165	57,765
Grants to individuals:
Grants to individuals for long term mission:	2,000	6,000
	64,165	63,765

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BELMONT EXETER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

7 Grants payable Collections and donations received from the congregation: St Petrocks K4C Pennies Exeter ICE Charitable Trust Take off Pennies Samaritans Purse Covid Vaccines Appeal	(Continued) 148 155 - 69 148 155 - 10 8 - 2,856 - 3,160 389

The above collections and donations have been made by members of the congregation with a view to the monies collected being passed onto the organisations concerned by Belmont Chapel.

8 Other Expenditure

	Unrestricted	Unrestricted
	funds	funds
	2021	2020
	£	£
Wages and National Insurance costs	13,922	6,198
Staff pension	6,519	5,725
Printing and station e ry	-	20
Independent examination	2,125	2,363
	22,566	14,306

9 Trustees

Two employees of the Charity were invited to join the Trustees during the year in order to provide an effective liaison between the Trustees and the Church Leadership Team.

The total remuneration is as follows:

	Salary	ER Pension Contribution	Total 2021	Salary	ER Pension Contribution	Total 2020
Mr R C Hughes	£34,349	£1,042	£35,391	£33,157	£1,031	£34,188
Mr S C Richards	£17,992	£392	£18,384	£17,459	£540	£17,999

No other Trustees, or any persons connected with them, received any remuneration or benefit from the Charitable Company during the year.

The only expenses reimbursed are for purchases made on behalf of the Charitable Company.

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BELMONT EXETER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

10 Employees

The average monthly number of employees during the year was:

Employment costs Wages and salaries Social security costs	2021 Number 10 2021 £ 203,383 14,411 217,794	2020 Number 9 2020 £ 185,133 12,515 197,648

The charity contributes to a defined contribution pension on behalf of its staff.

There were no employees whose annual remuneration was more than £60,000.

11 Tangible fixed assets

Cost At 1 January 2021 Additions At 31 December 2021 Depreciation and impairment At 1 January 2021 Depreciation charged in the year At 31 December 2021 Carrying amount At 31 December 2021 At 31 December 2020	Leasehold land and buildings £ 1,594,954 20,815 1,615,769 774,648 32,648 807,296 808,473 820,306	Plant and equipment £ 334,085 14,468 348,553 310,072 18,177 328,249 20,304 24,014	Lease £ 75,432 - 75,432 19,528 2,293 21,821 53,611 55,904	Total £ 2,004,471 35,283 2,039,754 1,104,248 53,118 1,157,366 882,388 900,224

There is no value recorded in these financial statements relating to the purchase of the original church buildings, known as the North Wing.

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BELMONT EXETER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

12 Debtors

Amounts falling due within one year: Other debtors Creditors: amounts falling due within one year Other taxation and social security Trade creditors Other creditors Accruals and deferred income	2021 £ 17,702 2021 £ 6,278 1,876 915 2,357 11,426	2020 £ 18,661 2020 £ 5,096 4,479 1,490 2,352 13,417

13 Creditors: amounts falling due within one year

14 Related party transactions

Transactions with trustees are disclosed in note 9 of these accounts. The only other related party transaction in the year related to the trustees continued offerings towards the mission at Belmont Chapel. In the year ended 31 December 2021, these totalled £19,400 ( 2020: £16,225 ) .

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