Charity number 1185754
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Parklands Evangelical Church CIO
Trustees’ Report and Accounts for the year ended 31 March 2022
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Parklands Evangelical Church CIO___________ 1
Index to the Trustees’ Report and Accounts for the year ended 31 March 2022
| contents | page |
|---|---|
| Trustees' Report | 2 - 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet as at 31 March 2022 | 8 |
| Notes to the Accounts | 9 - 14 |
Parklands Evangelical Church CIO___________ 2
Trustees' Report for the year ended 31 March 2022
The Trustees present their report with the financial statements of the charity for the year ended 31 March 2022. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).
The Financial Statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity's governing document, the Charities Act 2011 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.
All the assets and liabilities of Parklands Evangelical Church charitable trust were transferred to Parklands Evangelical Church CIO (Charitable Incorporated Organisation), charity number 1185754, on 31 March 2020.
OBJECTIVES AND ACTIVITIES
Object of the Charity and Activities
The object of Parklands Evangelical Church CIO, hereinafter called “the church” is to glorify God through worship, building up members in spiritual understanding and maturity by Biblical teaching, spreading the gospel and service to others. The Trustees consider that everything the church does is part of the fulfilment of this one object. Consequently, no separable significant activities are reported.
In the year under review, the church continued to operate from premises at Maes y Gollen, Sketty Park, Swansea, though the use of these premises was impacted by the Covid 19 pandemic. New members joined the church and various projects undertaken by the church continued to grow, as the charity sought to develop its ministries.
When planning church activities for the year, the Trustees have considered the Commission’s Guidance on public benefit and in particular the specific guidance on charities for the advancement of religion.
Grantmaking
As in past years, the church has contributed financially to other ministries which hold to shared objectives. The Trustees approve the recipients of all grants made.
Volunteers
While employing a number of full-time staff, the church also has numerous volunteer helpers, who are responsible for the support of many activities in the church. It is not possible to place a monetary value on the contributions made by volunteers, nor are figures available at this time to show how many hours of service they provide.
ACHIEVEMENT AND PERFORMANCE
Charitable Activities
Summary of Activities 2021-22
Leadership Report
As we continued to rebuild and refocus the year 2021 to 2022, our aim continued to be 'rebuild', reconnect and re-establish the new normal....
Transitioning through a year of Covid to 'living with it', still proved to be challenging as we blended online provision and in person community events.
Christmas 2021 was an example of this, when we managed to run a community gathering in the car park, followed by a sudden lockdown, forcing us to go online again for the Christmas services.
Through the year, we managed to restart other community projects, including toddler groups, Friday night youth and children's work and our wider Church program.
Throughout the year we also found that the effects of 'Covid lockdowns' had caused an unsettling amount of wellbeing related issues and therefore a larger than usual amount of pastoral care was undertaken.
In conclusion, another re-establishing year... Encouragement of seeing the Church 'come back', while also seeing the Church community grow, representing a broader spectrum and variety than previously seen.
Parklands Evangelical Church CIO___________ 3
PUBLIC BENEFIT STATEMENT
The Trustees confirm that they have complied with the duty in the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit. The Church provides public benefit principally in the provision of a Place of Worship, with regular services open to all members of the public. The Church seeks to fulfil its charitable objectives in the advancement of Christianity and in supporting those in need.
FINANCIAL REVIEW
The accounts have been prepared in accordance with the Statement of Recommended Accounting Practice (SORP) FRS 102. As a result, they do not contain a separate Income and Expenditure Account but rather a Statement of Financial Activities . This shows total Income offset against total Expenditure, and includes the information which has to be disclosed in an Income and Expenditure Account . In addition, the accounts comply with the requirements of the charity’s governing documents.
Total Income for the year of £176,448 (2021 - £238,591) consists chiefly of donations and legacies of £143,017 (2021 - £189,316) and associated tax refunds of £25,924 (2021 - £30,266). A deficit of £1,984 (2021 – surplus of £42,486) was incurred in the year.
The charity has sufficient funds to meet all its financial requirements. At 31 March 2022 the charity’s funds totalled £356,363 (2021 - £358,347), while its free reserves totalled £69,815, as noted below under Reserves Policy .
Going Concern
Having considered budget and cash flow projections for the next twelve months in the context of the Covid-19 pandemic, the Trustees are confident that the Church will continue to meet its liabilities as they fall due for the foreseeable future and consider that there are no material uncertainties about the Church's ability to continue as a going concern. It is therefore considered appropriate by the Trustees to prepare the financial statements on a going concern basis.
The accounts comply with the current statutory requirements and the charity's governing documents.
Reserves Policy
The Trustees have examined the level of reserves held at the year-end in light of the main risks facing the organisation. A policy has been established to maintain free reserves sufficient to cover temporary short-falls in income. The Trustees are aware of the need to accumulate sufficient reserves such that the Church can continue in operation during any short-term income shortfall. It is intended to hold free reserves equal to two months’ budgeted running costs. This is estimated to be £30,000.
The free reserves of a charity represent the funds that are freely available to spend. In calculating the free reserves, the Trustees have deducted from the total of unrestricted funds any designated funds at the year end and the net book value of all tangible fixed assets as detailed in the accounts. This leaves a surplus of free reserves at 31 March 2022 of £69,815, which is deemed to be a sufficient level of reserves by the Trustees.
The policy is reviewed by the Trustees on an ongoing basis.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document
The charity is controlled by its governing document, a Constitution, and is a Charitable Incorporated Organisation (CIO). It was registered with the Charity Commission on 10 October 2019.
The CIO is governed by its Constitution, which establishes the objects and powers of the charity. Under the Constitution, the Trustees are elected to serve for a period of five years.
Recruitment, Appointment and Training of New Trustees
The Constitution provides for a minimum of four Trustees. Each Trustee must be appointed by a resolution of the Trustees passed at a special meeting of the Trustees.
Induction and Appointment of New Trustees
The Trustees are responsible for the induction of any new Trustees. This involves making them aware of a Trustee’s responsibilities and of the nature of the governing document and administrative procedures. A new Trustee would receive a copy of the charity’s Trust Deed together with a copy of the charity’s latest Annual Report and Accounts.
Organisational Structure
The charity is governed by its Trustees. An administrative team is entrusted with the implementation of many of the Trustees’ decisions.
Risk Management
The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Parklands Evangelical Church CIO___________ 4
The management committee has conducted its own review of the major risks to which the charity is exposed and systems have been established to mitigate those risks.
External risks to funding have led to the initiation of a plan to be developed which will allow for the growth of unrestricted reserves over time. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects with the intention of ensuring consistent quality in respect of all operational aspects of the charity. These procedures are periodically reviewed to ensure that they still meet the needs of the charity.
Key Management Remuneration
The Board of Trustees is considered to be the Key Management Personnel of the charity. No Key Management Personnel received any remuneration or refunds of expenses from the charity during the year.
REFERENCE AND ADMINISTRATIVE DETAILS
| Address | Parklands Evangelical Church CIO | Parklands Evangelical Church CIO | |
|---|---|---|---|
| Maes y Gollen | |||
| Sketty | |||
| SWANSEA SA2 8HQ | |||
| Trustees | R A Griffiths | appointed 10 October 2019 | |
| A M Day | appointed 10 October 2019 | resigned 21 September 2021 | |
| D R Day | appointed 10 October 2019 | ||
| M J H Lewis | appointed 10 October 2019 | ||
| C Ditton | appointed 3 May 2021 | ||
| M Campion | appointed 7 June 2022 | ||
| R L Nowell | appointed 8 June 2022 | ||
| M S Williams | appointed 7 June 2022 | ||
| Independent Examiner | Philip Harris ACA | ||
| 144 Walter Road | |||
| SWANSEA SA1 5RW | |||
| Bankers | Lloyds Bank plc | ||
| 802 Oxford Street | |||
| SWANSEA SA1 3AF |
FUTURE DEVELOPMENTS
The church is committed to its objectives of advancing the Christian faith and the worship of God in the City and County of Swansea and elsewhere. Its Trustees believe that its existing activities have begun to achieve these ends. Consequently, no significant changes in its activity are planned for the forthcoming year.
Parklands Evangelical Church CIO___________ 5
STATEMENT OF TRUSTEES’ RESPONSIBILITIES
The Trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed require 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 application of resources, including the income and expenditure of the charity for that period. In preparing those 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 Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue to operate.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to 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. 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.
On behalf of the Trustees
……………………………………………….... ………………………………………………….
C W Ditton M J H Lewis Trustee Trustee dated 27 January 2023 dated
Parklands Evangelical Church CIO___________ 6
Independent Examiner’s Report to the Trustees of Parklands Evangelical Church
Independent Examiner’s Report to the Trustees
I report to the Trustees on my examination of the accounts of Parklands Evangelical Church (the Trust) for the year ended 31 March 2022, which are set out on pages 7 to 14.
Responsibilities and basis of report
As the charity Trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the 2011 Act). The charity’s Trustees consider that an audit is not required for this year under section 144(2) of the Act and that an Independent Examination is required.
I report in respect of my examination of the Trust’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 2011 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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1 accounting records were not kept in respect of the Trust as required by section 130 of the 2011 Act; or
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2 the accounts do not accord with those records; or
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3 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.
Philip Harris ACA 144 Walter Road SWANSEA SA1 5RW
dated 27 January 2023…………………………...
Parklands Evangelical Church CIO___________ 7
Statement of Financial Activities for the year ended 31 March 2022
| notes INCOME Income from donations Voluntary income 2 Gift Aid offerings General offerings Tax refunds Income from charitable activities Grants and income from use of premises Investment Income Bank interest Total Income EXPENDITURE Expenditure on charitable activities Grants payable in furtherance of the charity’s objects 3 Costs of activities in furtherance of the charity’s objects 4 Total Expenditure NET (EXPENDITURE)/INCOME FUNDS RECEIVED ON 31 MARCH 2020 FROM ANTECEDENT 18 ORGANISATION NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
unrestricted funds £ restricted funds £ 2022 total £ 2021 total £ 102,378 1,057 103,435 123,010 27,987 11,595 39,582 66,306 25,767 157 25,924 30,266 |
|---|---|
| 156,132 12,809 168,941 219,582 4,000 3,500 7,500 19,000 |
|
| 160,132 16,309 176,441 238,582 7 - 7 9 |
|
| 160,139 16,309 176,448 238,591 |
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| 17,937 3,218 21,155 20,610 147,308 9,969 157,277 175,975 |
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| 165,245 13,187 178,432 196,585 |
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| (5,106) 3,122 (1,984) 42,006 - - - 316,341 |
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| (5,106) 3,122 (1,984) 358,347 338,022 20,325 358,347 - |
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| 332,916 23,447 356,363 358,347 |
The net movement in funds for the current year and previous year stated above arose entirely from continuing activities.
There are no recognised gains and losses for the years above other than included in the above Statement of Financial Activities.
The notes on pages 9 to 14 form part of these accounts.
Parklands Evangelical Church CIO___________ 8
Balance Sheet
as at 31 March 2022
| notes Fixed Assets Tangible Assets 12 Current Assets Debtors 13 Cash at bank and in hand Liabilities Creditors : Amounts falling due within one year Other creditors and accruals 14 Net Current Assets Net Assets Funds Restricted 15 Unrestricted 15 Total Funds 15 |
2 £ 7,906 84,405 |
022 £ 266,265 90,098 |
2 £ 6,901 83,529 |
021 £ 270,470 87,877 |
|---|---|---|---|---|
| 92,311 2,213 |
90,430 2,553 |
|||
| 356,363 | 358,347 | |||
| 23,447 332,916 |
20,325 338,022 |
|||
| 356,363 | 358,347 |
The accounts on pages 7 to 14 were approved by the Board of Trustees on 27 January 2023 and were signed on their behalf by
……………………................................…..………
…………………………………………………………………..
C W Ditton Trustee
M J H Lewis Trustee
Parklands Evangelical Church CIO___________ 9
1 Accounting Policies
Notes to the accounts for the year ended 31 March 2022
Statutory information and commencement of activity
Parklands Evangelical Church is a charitable incorporated organisation (CIO) registered with the Charity Commission in England & Wales. The registered and operational address is Maes y Gollen, Sketty, Swansea, SA2 8HQ.
All the assets and liabilities of Parklands Evangelical Church Charitable Trust were transferred from Parklands Evangelical Church Trust to Parklands Evangelical Church CIO, charity number 1185754, at the close of activity on 31 March 2020.
Basis of preparing the Financial Statements
The accounts (financial statements) have been prepared in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) 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 Accounting Practice.
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 the relevant version of the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements have been prepared under the historical cost convention.
As the Church qualifies as a smaller charity, the Trustees have opted for the concession to use resource classifications instead of activity categories in the Statement of Financial Activities.
Going Concern
Having considered budget and cash flow projections for the next twelve months in the context of the Covid-19 pandemic, the Trustees are confident that the Church will continue to meet its liabilities as they fall due for the foreseeable future and consider that there are no material uncertainties about the Church's ability to continue as a going concern. It is therefore considered appropriate by the Trustees to prepare the financial statements on a going concern basis.
Financial Reporting Standard 102 - Reduced Disclosure Exemptions
In preparing these financial statements the charity has taken advantage of the exemption from preparing a cash flow statement, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
Income Recognition
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Legacy gifts are recognised on a case by case basis following the granting of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date.
Interest on funds held on deposit is included upon notification of the interest paid or payable by the Bank.
Expenditure and Irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
Parklands Evangelical Church CIO___________ 10
Tangible Fixed Assets and Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 0% on land and 2% on buildings if held at cost Fixtures & fittings etc - 10% or 25% on cost
All assets costing more than £200 are capitalised. and the minimum item net book value is £200.
Taxation
The Trust is a charity and accordingly is exempt from taxation on its income and gains where they are applied for charitable purposes.
Fund Accounting
Unrestricted funds are available to spend on activities that further any of the purposes of Church. Any revaluation reserve held would represent the difference between the most recent revaluation of property assets and their historic cost. Restricted funds are donations which the donor, or the Trust when making an appeal, has specified are to be solely used for particular areas of the charity’s work. The capital of any expendable endowment fund can be spent if the trustees so determine.
Further explanation of the nature and purpose of each fund held is included in the notes to the financial statements.
Financial Instruments
The Church only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
Creditors and Provisions
Creditors and Provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and Provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
2 Voluntary Income
During the year grants totalling £7,500 were received. No income was received from the use of the premises by third parties. Bank interest of £7 was received.
Legacies received are included in Voluntary Income.
3 Charitable Activities :
Grants payable in furtherance of the charity’s objects
During the period, gifts to Missions totalled £21,155, with gifts to overseas missions accounting for £14,470 of this sum.
| m Total grants paid to institutions during the year were as follows: Toybox Charity Tumaini Kwa Watoto (Children of Hope), Kenya Challenge Ministries Elim International Care and ShareWorld Horizons Other Institutions Grants paid to individuals during the period totalled Total grants paid |
unrestricted funds restricted funds Total Funds 12 months’ activity 2021 £ £ £ £ 1,947 2,053 4,000 - 3,000 - 3,000 3,000 - - - 2,565 1,100 - 1,100 1,200 1,000 - 1,000 1,000 790 - 790 785 |
|---|---|
| 7,837 2,053 9,890 8,550 |
|
| 10,100 1,165 11,265 12,060 |
|
| 17,937 3,218 21,155 20,610 |
Parklands Evangelical Church CIO___________ 11
4
6
Charitable Activities :
Cost of activities in furtherance of the charity’s objects
5
| Cost of activities in furtherance of the charity’s objects | ||
|---|---|---|
| Salaries Pastoral care Evangelism Worship and Music Production Youth Work Children’s Work Students’ Work Training and books Hospitality Depreciation of property and equipment Support Costs – see note 5 Support Costs Bank interest Administration Maintenance General Expenses Governance Costs Support costs have been identified and allocated on an actual basis. Net (Expenditure) / Income This is stated after charging :- Depreciation Independent Examiner’s fee |
unrestricted funds restricted funds 2022 total £ £ £ 102,796 - 102,796 1,028 479 1,507 574 - 574 405 - 405 9,694 375 10,069 894 560 1,454 880 - 880 150 - 150 48 - 48 1,245 - 1,245 7,817 1,255 9,072 125,531 2,669 128,200 21,777 7,300 29,077 |
2021 total £ 113,181 9,274 64 904 14,976 3,304 554 150 - 377 9,964 |
| 152,748 23,227 175,975 2021 total £ - 14,500 1,945 5,134 1,648 |
||
| 147,308 9,969 157,277 |
||
| unrestricted funds restricted funds 2022 total £ £ £ - - - 9,800 2,010 11,810 4,228 5,290 9,518 3,966 - 3,966 3,783 - 3,783 21,777 7,300 29,077 2022 £ 9,072 600 |
||
| 23,227 | ||
| 2021 £ 9,964 480 |
Much of the work of the charity is carried out voluntarily by its members. No adjustment has been made to the accounts for the estimated value of these services, as the Trustees do not consider that any financial cost has been borne by any third party.
8 Trustees’ Remuneration
No Trustee received any remuneration from the Trust during the year nor were any expenses which had been incurred by the Trustees refunded to them.
9 Staff Costs
No employees received emoluments in excess of £60,000 during the year.
The average number of employees in the year was 4.
Staff costs for the year totalled £102,796, comprising salaries of £90,152, Employers’ NI contributions of £7,559 and Employer’s Pension Contributions of £5,085.
7 Donated Services
Parklands Evangelical Church CIO___________ 12
10 Corporation Tax
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or Section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
No tax charges have arisen in the charity.
11 Comparatives for the Statement of Financial Activities
| notes INCOME Income from donations 2 Voluntary income Gift Aid offerings General offerings Tax refunds Income from charitable activities Grants and income from use of premises Investment Income Bank interest Total Income EXPENDITURE Expenditure on charitable activities Grants payable in furtherance of the charity’s objects 3 Costs of activities in furtherance of the charity’s objects 4 Total Expenditure NET INCOME FUNDS RECEIVED ON 31 MARCH 2020 FROM ANTECEDENT ORGANISATION 18 NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 15 |
unrestricted funds £ restricted funds £ 2021 12 months’ activity £ 114,294 8,716 123,010 62,557 3,749 66,306 26,930 3,336 30,266 |
|---|---|
| 203,781 15,801 219,582 4,000 15,000 19,000 |
|
| 207,781 30,801 238,582 9 - 9 |
|
| 207,790 30,801 238,591 |
|
| 13,791 6,819 20,610 161,051 14,924 175,975 |
|
| 174,842 21,743 196,585 |
|
| 32,948 9,058 42,006 305,074 11,267 316,341 |
|
| 338,022 20,325 358,347 - - - |
|
| 338,022 20,325 358,347 |
Parklands Evangelical Church CIO___________ 13
12
| Tangible Fixed Assets Valuation and Cost At 1 April 2021 Additions Disposals At 31 March 2022 Depreciation At 1 April 2021 Charge for the year Eliminated on disposals At 31 March 2022 Net Book Value At 31 March 2022 At 31 March 2021 |
property £ fixtures, fittings and equipment £ total £ 250,000 94,315 344,315 - 4,867 4,867 - - - |
|---|---|
| 250,000 99,182 349,182 |
|
| 4,000 69,845 73,845 4,000 5,072 9,072 - - - |
|
| 8,000 74,917 82,917 |
|
| 242,000 24,265 266,265 |
|
| 246,000 24,470 270,470 |
On 2 October 2020 the property was professionally valued by Rhodri Poiner of Mallard Chartered Surveyors who considered the property to have a market value of £250,000. This has been accepted as a fair statement of the property’s open market value as at that date. No revaluation of assets occurred in the current year. Consequently, the charity’s property is again stated at a valuation of £250,000, less depreciation, as at 31 March 2022. The Trustees estimate the value of the land held to be £50,000. Fixtures, fittings and equipment are held at cost less accumulated depreciation.
13
14
15
| Debtors : Amounts falling due within one year Gift Aid Sundry debtors and prepayments Creditors : Amounts falling due within one year Social Security and other taxes Sundry Creditors and accruals Independent Examiner’s fee Movement in Funds At 10 October 2019 £ Restricted Funds Hardship Fund - Emanate Fund - Care Fund - Grant Fund - Maintenance Funds Other Restricted Funds - - Unrestricted Funds General - TOTAL FUNDS - |
2022 £ 6,919 987 7,906 2022 £ - 1,613 600 2,213 At 1 April 2021 Net Movement in Funds during active period At £ £ 11,195 300 7,357 (1,815) 869 (465) - 2,582 - 2,160 904 360 |
2021 £ 6,768 133 |
|---|---|---|
| 6,901 | ||
| 2019 £ - 2,073 480 |
||
| 2,553 | ||
| 31 March 2022 £ 11,495 5,542 404 2,582 2,160 1,264 23,447 332,916 356,363 |
||
| 20,325 3,122 338,022 (5,106) |
||
| 358,347 (1,984) |
Net movement in funds included in the above are as follows :
| Restricted Funds Hardship Fund Emanate Fund Care Fund Grant Fund Maintenance Funds Other Restricted Funds Unrestricted Funds General TOTAL FUNDS |
Income 12 months Expenditure 12 months Movement in Funds £ £ £ 300 - 300 - 1,815 (1,815) 14 479 (465) 5,800 3,218 2,582 7,450 5,290 2,160 2,745 2,385 360 |
|---|---|
| 16,309 13,187 3,122 160,139 165,245 (5,106) |
|
| 176,448 178,432 (1,984) |
Parklands Evangelical Church CIO___________ 14
Restricted Funds
Hardship Fund
A Hardship Fund has been maintained. This has been funded by gifts received by the church and is used to make interest-free, flexible loans or gifts to those known to be in financial hardship. It is hoped that in almost all cases loans will be repaid, making funds available to be reused for the same purpose. In cases of extreme need gifts may be made or loans converted into gifts. Income totalling £300 was received during the period. At 1 April 2021 the fund held assets totalling £11,195. At the period end the fund of £11,495 formed part of the Church’s bank balances.
Emanate Fund
During the previous period a grant of £10,000 was received to assist with the costs of developing and running an online youth channel, Emanate, with the purpose of sharing the Gospel with youth both inside and outside the Church. A balance of £7,357 was held at 1 April 2021. During the period a further £1,815 of the grant had been spent, leaving a fund of £5,542 at 31 March 2022, comprising of fixed assets of £3,164 and £2,378 which formed part of the Church’s bank balances.
Care Fund
In order to respond to the financial hardship suffered by many in crisis in the Swansea area as a result of the COVID pandemic the Church established the Care Fund. A balance of £869 was held at 1 April 2021. During the period donations of £14 were received and gifts of £479 were made, leaving a fund at 31 March 2022 of £404, which formed part of the Church’s bank balances.
Grant Funds
During the year the Church raised funds totalling £5,800 which were specifically for the benefit of other charitable organisations and works. Amounts forwarded to these organisations and works by 31 March 2022 totalled £3,218, leaving a fund balance of £2,582 at 31 March 2022, which formed part of the Church’s bank balances. The balance of funds held at the year-end were forwarded on 25 April 2022.
Maintenance Funds
During the year the Church received funds totalling £7,450 to assist with various building works which were undertaken. Of these funds £5,290 was spent during the year, leaving a balance of £2,160 at 31 March 2022, which formed part of the Church’s bank balances. The funds had been fully spent within three months of the year end.
Other Restricted Funds
Other restricted funds of £904 were held at 1 April 2021. Other Restricted Funds totalling £2,745 were received during the period. Of these £2,385 had been spent by the period end. The fund balances held at 31 March 2022 totalled £1,264, which was held as part of period end bank balances.
Unrestricted Funds
The charity’s Unrestricted or General Funds are represented by all its assets net of its liabilities as at 31 March 2022, less £23,447 (2021 - £20,325) noted above as representing Restricted Funds.
16 Pension Commitments
The charity operates a defined contribution pension scheme for those employees wishing to participate in its pension arrangements. During the year the charity paid £5,085 (2021 - £8,012) into pension schemes for participating members of staff. At the balance sheet date there were no outstanding or prepaid contributions.
17 Related Party Disclosures
The aggregate value of unconditional donations made by the Trustees in the year to 31 March 2022 was £18,645 (2021 - £19,000).
18 Transfer of Assets and Liabilities
All the assets and liabilities of Parklands Evangelical Trust were transferred to Parklands Church Charitable Incorporated Organisation (CIO number 1185754) on 31 March 2020. The value of the funds transferred was £316,341.
Parklands Evangelical Church CIO was dormant until the close of 31 March 2020, and its activities commenced on 1 April 2020.