## **Charity number 1185754**
**___________________________________________**
# **Parklands Evangelical Church CIO Trustees’ Report and Accounts for the year ended 31 March 2023**
**___________________________________________**
**Parklands Evangelical Church CIO_______________________________________________ 1**
## **Index to the Trustees’ Report and Accounts for the year ended 31 March 2023**
_contents page_ Trustees' Report 2 - 5 Independent Examiner's Report 6 Statement of Financial Activities 7 Balance Sheet as at 31 March 2023 8 Notes to the Accounts 9 - 14
**Parklands Evangelical Church**
**CIO_______________________________________________ 2**
## **Trustees' Report for the year ended 31 March 2023**
The Trustees present their report with the financial statements of the charity for the year ended 31 March 2023. 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.
## **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. 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 2022-23**
## **Leadership Report**
April 2022 felt like the start of a new chapter, following the past few years of the pandemic. After two years of not knowing whether we could plan anything, we felt like clear skies were ahead and it was time to get back up and running.
The summer months felt like a good time to regather our thoughts as a leadership team and work out how to build Church and its community programme. We also had to adapt to the leaving of a key staff member who would leave a big operational gap within the team.
During the summer, Church attendance became consistently stronger and the congregation increased numerically. In particular, our children's work grew, and this set the pathway for exploring a future children's worker.
During the autumn term we received funding for a Warm Hub, which was a great way to offer hospitality and warmth to the community. This winter project continued into 2023.
Christmas was filled with Carol Services and opportunities to share the Gospel. This was a year of building confidence in volunteers after a few years’ break and COVID fatigue.
During this period we were able to expand our support of the Sketty Food Bank project, and facilitate an additional storage unit on our grounds while also affirming our long-term support of this project.
The Church continued to grow spiritually, with people coming to faith, being baptised and finding a home within the Church fellowship.
It was nice to have a clear year with little disruption from the pandemic, a renewed ability to share vision for 2023 and the opportunity to grow together.
Parklands Evan
cio
elical Church
**Parklands Evangelical Church**
**CIO_______________________________________________ 4**
## **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 £196,376 (2022 - £176,448) consists chiefly of donations and legacies of £167,436 (2022 - £143,017) and associated tax refunds of £22,535 (2022 - £25,924). A surplus of £13,273 (2022 – deficit of £1,984) arose in the year.
The charity has sufficient funds to meet all its financial requirements. At 31 March 2023 the charity’s funds totalled £369,636 (2022 - £356,363), while its free reserves totalled £97,852, as noted below under _Reserves Policy_ .
## **Going Concern**
Having considered budget and cash flow projections for the next twelve months 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 £31,000.
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 free reserves at 31 March 2023 of £97,852. This 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**
**CIO_______________________________________________ 5**
## **Parklands Evangelical Church**
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_______________________________________________ 6**
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 Grifths|resigned 28 September 2023|
||D R Day||
||M J H Lewis||
||C W Ditton||
||M Campion||
||R L Nowell||
||M S Williams||
||S Williams|appointed 23 May 2023|
||G McGill|appointed 4 December 2023|
|**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_______________________________________________ 7**
## **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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- 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_ 25 January 2024 _dated_
**Parklands Evangelical Church**
**CIO_______________________________________________**
**8**
## **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 2023, 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:
- 1 accounting records were not kept in respect of the Trust as required by section 130 of the 2011 Act; or
- 2 the accounts do not accord with those records; or
- 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_ 29 January 2024…………………………...
**Parklands Evangelical Church CIO_______________________________________________ 9**
## **Statement of Financial Activities for the year ended 31 March 2023**
|**_notes_**
**INCOME**
**Income from donations**
**Voluntary income**
2
Gift Aid oferings
General oferings
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/(EXPENDITURE) AND NET MOVEMENT**
**IN FUNDS**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|**_unrestrict_**
**_ed funds_**
**_£_**
**_restricted_**
**_funds_**
**_£_**
**_2023_**
**_total_**
**_£_**
**_2022_**
**_total_**
**_£_**
93,090
2,180
95,270
103,43
5
67,974
4,192
72,166
39,582
22,237
298
22,535
25,924|
|---|---|
||183,30
1
6,670
189,97
1
168,94
1
5,00
0
1,064
6,064
7,500|
||188,30
1
7,734
196,03
5
176,44
1
3
41
-
341
7|
||188,64
2
7,734
196,37
6
176,44
8|
||17,449
5,353
22,802
21,155
151,16
2
9,139
160,30
1
157,27
7|
||168,61
1
14,492
183,10
3
178,43
2|
||20,031
(6,758)
13,273
(1,984)
332,91
6
23,447
356,36
3
358,34
7|
||352,94
7
16,689
369,63
6
356,36
3|
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 Evan
cio
elical Church
io
**Parklands Evangelical Church CIO_______________________________________________ 11**
## **Balance Sheet as at 31 March 2023**
**----- Start of picture text -----**
2023 2022
note
£ £ £ £
s
Fixed Assets
Tangible Assets 12 258,392 266,265
Current Assets
Debtors 13 8,032 7,906
Cash at bank and in hand 104,782 84,405
112,814 92,311
Liabilities
Creditors : Amounts falling due within one
year
Other creditors and accruals 14 1,570 2,213
Net Current Assets 111,244 90,098
Net Assets 369,636 356,363
Funds
Restricted 15 16,689 23,447
Unrestricted 15 352,947 332,916
Total Funds 15 369,636 356,363
**----- End of picture text -----**
The accounts on pages 7 to 14 were approved by the Board of Trustees on 25 January 2024 and were signed on their behalf by
……………………................................…..………
…………………………………………………………………..
**C W Ditton** _Trustee_
**M J H Lewis** _Trustee_
**Parklands Evangelical Church CIO_______________________________________________ 12**
## **Notes to the accounts for the year ended**
## **31 March 2023**
## 1 **Accounting Policies**
## **Statutory information**
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.
## **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 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_______________________________________________ 13**
## **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 £6,064 were received. No income was received from the use of the premises by third parties. Bank interest of £341 was receivable.
Legacies received are included in Voluntary Income.
## 3 **Charitable Activities :**
## **Grants payable in furtherance of the charity’s objects**
During the period, Grants paid totalled £22,802, with gifts to overseas institutions and individuals accounting for £14,692 of this sum.
||**_unrestricte_**|**_restricted_**|**_Total Funds_**|||
|---|---|---|---|---|---|
|m|**_d funds_**|**_funds_**|**_activity_**||**_2022_**|
||**_£_**|**_£_**|**_£_**||**_£_**|
|Total grants paid to institutions during the year were as follows:||||||
|Tumaini Kwa Watoto (Children of Hope),
Kenya|3,000|-|3,000||3,000|
|Samaritan’s Purse|994|906|1,900||-|
|World Horizons|994|906|1,900|-|-|
|Exousia|1,698|802|2,500||-|
|UFM Worldwide|-|2,582|2,582||-|
|Toybox Charity|-|-|-||4,000|
|Elim International|-|-|-||1,100|
|Care and ShareWorld Horizons|500|-|500||1,000|
|Other Institutions|363|7|370||790|
||7,549|5,203|12,752||9,890|
|Grants paid to individuals during the period
totalled|9,900|150|10,050||11,265|
||17,449|5,353|22,802||21,155|
Parklands Evan
cio
elical Church
14
Total grants paid
**CIO_______________________________________________ 15**
## **Parklands Evangelical Church**
## **4 Charitable Activities :**
## **Cost of activities in furtherance of the charity’s objects**
## **5**
|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|**_unrestricted_**
**_funds_**
**_restricted funds_**
**_2023_**
**_total_**
**_£_**
**_£_**
**_£_**
100,287
-
100,287
962
450
1,412
1,116
-
1,116
1,513
-
1,513
5,439
-
5,439
1,222
528
1,750
898
-
898
150
-
150
1,488
-
1,488
2,084
-
2,084
9,092
1,717
10,809
124,251
2,695
126,946
26,911
6,444
33,355|**_2022_**
**_total_**
**_£_**
102,796
1,507
574
405
10,069
1,454
880
150
48
1,245
9,072|
|---|---|---|
|||128,200
29,077
157,277
**_2022_**
**_total_**
**_£_**
-
11,810
9,518
3,966
3,783|
||151,162
9,139
160,301||
||**_unrestricted_**
**_funds_**
**_restricted funds_**
**_2023_**
**_total_**
**_£_**
**_£_**
**_£_**
-
-
-
12,589
4,284
16,873
6,611
2,160
8,771
6,631
-
6,631
1,080
-
1,080
26,911
6,444
33,355||
|||29,077|
Support costs have been identified and allocated on an actual basis.
## **6**
## **Net (Expenditure) / Income**
|**Net (Expenditure) / Income**|||
|---|---|---|
|This is stated after charging :-|||
||**_2023_**|**_2022_**|
||**_£_**|**_£_**|
|Depreciation|10,809|9,072|
|Independent Examiner’s fee|630|600|
## **7 Donated Services**
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 5.
Staff costs for the year totalled £100,287, comprising salaries of £88,702, Employers’ NI contributions of £6,793 and Employer’s Pension Contributions of £4,792.
**Parklands Evangelical Church CIO_______________________________________________ 16**
## **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 oferings
General oferings
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|**_unrestrict_**
**_ed_**
**_funds_**
**_£_**
**_restricted_**
**_funds_**
**_£_**
**_2022_**
**_12_**
**_months’_**
**_activity_**
**_£_**
102,37
8
1,057
103,43
5
27,987
11,595
39,582
25,767
157
25,924|
|---|---|
||156,13
2
12,809
168,94
1
4,00
0
3,500
7,500|
||160,13
2
16,309
176,44
1
7
-
7|
||160,13
9
16,309
176,44
8|
||17,937
3,218
21,155
147,30
8
9,969
157,27
7|
||165,24
5
13,187
178,43
2|
||(5,106)
3,122
(1,984)
-
-
-|
||(5,106)
3,122
(1,984)
338,02
2
20,325
358,34
7|
||332,91
6
23,447
356,36
3|
## **Parklands Evangelical Church**
## **CIO_______________________________________________ 17**
## **12**
|**Tangible Fixed Assets**
**Valuation and Cost**
At 1 April 2022
Additions
Disposals
At 31 March 2023
**Depreciation**
At 1 April 2022
Charge for the year
Eliminated on disposals
At 31 March 2023
**Net Book Value**
At 31 March 2023
At 31 March 2022|**_property_**
**_£_**
**_fxtures,_**
**_fttings and_**
**_equipment_**
**_£_**
**_total_**
**_£_**
250,000
99,182
349,182
-
2,936
2,936
-
-
-|
|---|---|
||250,000
102,118
352,118|
||8,000
74,917
82,917
4,000
6,809
10,809
-
-
-|
||12,000
81,726
93,726|
||238,000
20,392
258,392|
||242,000
24,265
266,265|
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 2023. 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**|||||**_2023_**
**_£_**|**_2022_**
**_£_**|
|---|---|---|---|---|---|---|
|Gift Aid|||||5,604|6,919|
|Sundry debtors and prepayments|||||2,428|987|
||||||8,032|7,906|
|**Creditors : Amounts falling due within one year**|||||**_2023_**|**_2019_**|
||||||**_£_**|**_£_**|
|Social Security and other taxes|||||-|-|
|Sundry Creditors and accruals|||||940|1,613|
|Independent Examiner’s fee|||||630|600|
||||||1,570|2,213|
||||**_At 1 April 2022_**|**_Net Movement_**|||
|**Movement in Funds**|**_At_**|**_10 October_**
**_2019_**||**_in Funds during_**
**_active_**||**_At 31 March_**
**_2023_**|
|||||**_period_**|||
|||**_£_**|**_£_**|**_£_**||**_£_**|
|**Restricted Funds**|||||||
|Hardship Fund||-|11,495||300|11,795|
|Emanate Fund||-|5,542||(2,245)|3,297|
|Care Fund||-|404||(200)|204|
|Grant Fund||-|2,582||(2,582)|-|
|Maintenance Funds|||2,160||(2,160)|-|
|City & County of Swansea|||-||394|394|
|Other Restricted Funds||-|1,264||(265)|999|
|||-|23,447||(6,758)|16,689|
|**Unrestricted Funds**|||||||
|General||-|332,916||20,031|352,947|
|**TOTAL FUNDS**||**-**|**356,363**||**13,273**|**369,636**|
Net movement in funds included in the above are as follows :
|**Restricted Funds**
Hardship Fund
Emanate Fund
Care Fund
Grant Fund
Maintenance Funds
City & County of Swansea
Other Restricted Funds
**Unrestricted Funds**
General|**_Income_**
**_12 months_**
**_Expenditure_**
**_12 months_**
**_Movement_**
**_in Funds_**
**_£_**
**_£_**
**_£_**
300
-
300
-
2,245
(2,245)
400
600
(200)
2,614
5,196
(2,582)
-
2,160
(2,160)
1,064
670
394
3,356
3,621
(265)|
|---|---|
||7,734
14,492
(6,758)
188,642
168,611
20,031|
**Parklands Evangelical Church CIO_______________________________________________ 18**
**TOTAL FUNDS**
**196,376 183,103 13,273**
## **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 2022 the fund held cash of £11,495. At the period end the fund held cash of £11,795, which formed part of the Church’s bank balances. In future periods the Hardship Fund and the Care Fund noted below are to be combined
## **Emanate Fund**
In prior periods grants were obtained which were used to established and develop an online youth channel, Emanate, with the purpose of sharing the Gospel with youth both inside and outside the Church. A balance of £5,542 was held at 1 April 2022. During the period a further £2,245 of the grant was spent, leaving a fund of £3,297 at 31 March 2023, comprising of fixed assets used in this project.
## **Care Fund**
In order to respond to the financial hardship suffered by many in the Swansea area as a result of the COVID pandemic and more recently due to the cost of living crisis, the Church established and maintained the Care Fund. A balance of £404 was held at 1 April 2022. During the period donations of £400 were received and gifts of £600 were made, leaving a fund at 31 March 2023 of £204, which formed part of the Church’s bank balances. In future periods the Care Fund and the Hardship Fund noted above are to be combined.
## **Grant Funds**
During the year the Church raised funds totalling £2,614 which were specifically for the benefit of other charitable organisations and works. These funds were used, together with the fund balance held at 1 April 2022 of £2,582, to make donations to these organisations and works. By 31 March 2023 grants totalling £5,196 had been made, exhausting the fund, which held no assets as at 31 March 2023.
## **Maintenance Funds**
During the year to 31 March 2021 the Church received funds totalling £7,450 to assist with various building works which were undertaken. Of these funds £5,290 was spent during that 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 the first three months of the year to 31 March 2023. The fund held no assets at 31 March 2023.
## **City & County of Swansea**
During the year the Church received a grant of £1,064 from the City & County of Swansea to fund a Warm Hub. Of this grant £670 was spent during the year, leaving a balance of £394 at 31 March 2023, which formed part of the Church’s bank balances at that date. The fund had been fully spent within two months of the year end.
## **Other Restricted Funds**
Other restricted funds of £1,264 were held at 1 April 2022. Other Restricted Funds totalling £3,356 were received during the period. Of these and the opening balance, £3,621 had been spent by the period end. The fund balances held at 31 March 2023 totalled £999, which was held as part of period end bank balances.
## **16 Analysis of net assets between funds**
|Tangible fxed assets
Current assets
Liabilities
**Net assets**
Tangible fxed assets
Current assets
Liabilities
**Net assets**|_Unrestricted_
_Funds_
_Restricted_
_Funds_
**_Total_**
**_Funds_**
**_2022_**
_£_
_£_
**_£_**
255,095
3,297
258,392
99,422
13,392
112,814
(1,570)
-
(1,570)|
|---|---|
||352,947
16,689
369,636|
||_Unrestricted_
_Funds_
_Restricted_
_Funds_
_Total Funds_
_2021_
_£_
_£_
_£_
263,101
3,164
266,265
72,028
20,283
92,311
(2,213)
-
(2,213)|
||332,916
23,477
356,363|
## **17 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 £4,792 (2022 - £5,085) into pension schemes for participating members of staff. At the balance sheet date there were no outstanding or prepaid contributions.
**CIO_______________________________________________ 19**
## **Parklands Evangelical Church**
## **18 Related Party Disclosures**
The aggregate value of unconditional donations made by the Trustees in the year to 31 March 2023 was £15,970 (2022 - £18,645).