**Charity number 1185754**
**___________________________________________**
## **Parklands Evangelical Church CIO**
# **Trustees’ Report and Accounts for the year ended 31 March 2024**
**___________________________________________**
**Parklands Evangelical Church CIO_______________________________________________** 1
# **Index to the Trustees’ Report and Accounts for the year ended 31 March 2024**
|_contents_|_page_|
|---|---|
|Trustees' Report|2 - 5|
|Independent Examiner's Report|6|
|Statement of Financial Activities|7|
|Balance Sheet as at 31 March 2024|8|
|Notes to the Accounts|9 - 14|
**Parklands Evangelical Church CIO_______________________________________________** 2
## **Trustees' Report for the year ended 31 March 2024**
The Trustees present their report with the financial statements of the charity for the year ended 31 March 2024. 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 oversee all grants approved under a scheme of delegated authority.
## **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 2023-24**
## **Leadership Report**
This was a good return to normality as a Church and a springboard for the future chapters. With the congregation now 'stabilising' after the covid years we were in a season of building for the future and looking ahead.
Looking ahead was very much the foundation of this financial year as we started to implement some regular community groups and ministries. From “Pop In”, our expansion of the "Warm Hub", which ran a community meal every Friday, to offering a greater platform for food bank to use our site. Alongside this we had our first summer kids club which had over 50 attending during 6 days. This was helped by funding from City & County of Swansea to allow additional staffing resources. This also coincided with us being able to appoint a part time children's worker.
We also undertook our first full Christmas program for many years and established a new Carol Concert outreach with street food, allowing for a higher community engagement.
Working with the trustees, we have been able to strengthen our operations and review multiple policies and practices. This has helped us modernise our 'behind the scenes' work and offer a stronger foundation for the work we undertake.
2023/2024 was a time for us to strengthen our volunteer numbers and start the journey of exploring ways to expand our ministry for 2024/2025.
All in all it felt like a good year to build the Church from the previous few years of covid disruption.
**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 £198,123 (2023 - £196,376) consists chiefly of donations and legacies of £157,688 (2023 - £167,436) and associated tax refunds of £27,033 (2023 - £22,535). A surplus of £10,399 (2023 – surplus of £13,273) arose in the year.
The charity has sufficient funds to meet all its financial requirements. At 31 March 2024 the charity’s funds totalled £380,035 (2023 - £369,636), while its free reserves totalled £114,852, 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 £32,000.
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 relevant tangible fixed assets as detailed in the accounts. This leaves free reserves at 31 March 2024 of £114,852. 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 Constitution 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 Trustees conduct a 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**|C W Ditton|Chair|
||M Campion||
||D R Day||
||R A Griffiths|resigned 28 September 2023|
||M J H Lewis||
||G McGill|appointed 4 December 2023|
||R L Nowell||
||M S Williams||
||S Williams|appointed 23 May 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_______________________________________________** 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:
- 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 Constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **On behalf of the Trustees**
**C W Ditton M J H Lewis** _Trustee Trustee dated_ 23 January 2025 _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 charity”) for the year ended 31 March 2024, which are set out on pages 7 to 14.
## **Responsibilities and basis of report**
As the Trustees of the charity 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 charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 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 charity 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_ **24 January 2025** …………………………...
**Parklands Evangelical Church CIO_______________________________________________** 7
## **Statement of Financial Activities for the year ended 31 March 2024**
|**_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 INCOME/(EXPENDITURE) AND NET MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|**_unrestricted_**
**_funds_**
**_£_**
**_restricted_**
**_funds_**
**_£_**
**_2024_**
**_total_**
**_£_**
**_2023_**
**_total_**
**_£_**
105,492
3,836
109,328
95,270
45,188
3,172
48,360
72,166
26,645
388
27,033
22,535|
|---|---|
||177,325
7,396
184,721
189,971
5,760
6,000
11,760
6,064|
||183,085
13,396
196,481
196,035
1,616
26
1,642
341|
||184,701
13,422
198,123
196,376|
||15,632
4,288
19,920
22,802
157,886
9,918
167,804
160,301|
||173,518
14,206
187,724
183,103|
||11,183
(784)
10,399
13,273
352,947
16,689
369,636
356,363|
||364,130
15,905
380,035
369,636|
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 2024**
|**_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_**
**_£_**
8,527
122,012|**_024_**
**_£_**
250,857
129,178|**_2_**
**_£_**
8,032
104,782|**_023_**
**_£_**
258,392
111,244|
|---|---|---|---|---|
||130,539
1,361||112,814
1,570||
||||||
|||380,035||369,636|
|||15,905
364,130||16,689
352,947|
|||380,035||369,636|
The accounts on pages 7 to 14 were approved by the Board of Trustees on 23 January 2025 and were signed on their behalf by
**C W Ditton** _Trustee_
**M J H Lewis** _Trustee_
**Parklands Evangelical Church CIO_______________________________________________** 9
## **Notes to the accounts for the year ended 31 March 2024**
## 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 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_______________________________________________** 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 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 Church 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 charity 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 £11,000 were received. Income of £760 was received from the use of the premises by third parties. Bank interest of £1,642 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 £19,920, with gifts to overseas institutions and individuals accounting for £9,497 of this sum.
|m
Total grants paid to institutions during the year were as follows:
Tumaini Kwa Watoto (Children of Hope), Kenya
Samaritan’s Purse
World Horizons
Exousia
UFM Worldwide
…International Justice Mission
Parklands Football Club
Care and Share World Horizons
Swansea Pregnancy Crisis Centre
Other Institutions
Grants paid to individuals during the period totalled
Total grants paid|**_unrestricted_**
**_funds_**
**_restricted funds_**
**_Total Funds_**
**_activity_**
**_2023_**
**_£_**
**_£_**
**_£_**
**_£_**
3,000
-
3,000
3,000
-
-
-
1,900
-
-
-
-
1,900
2,000
-
2,000
2,500
-
-
-
2,582
822
2,725
3,547
-
-
500
500
-
500
-
500
500
860
-
860
360
450
360
810
10|
|---|---|
||7,632
3,585
11,217
12,752|
||8,000
703
8,703
10,050|
||15,632
4,288
19,920
22,802|
**Parklands Evangelical Church CIO_______________________________________________** 11
**4**
**6**
**7**
## **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
Surplus on disposals
**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 Income/(Expenditure)**
This is stated after charging :-
Depreciation
Surplus on disposals
Independent Examiner’s fee|**_unrestricted_**
**_funds_**
**_restricted funds_**
**_2024 total_**
**_£_**
**_£_**
**_£_**
108,468
573
109,041
1,058
-
1,058
1,923
1,137
3,060
1,878
-
1,878
2,686
-
2,686
947
-
947
479
2,926
3,405
260
-
260
307
-
307
2,737
-
2,737
10,002
1,717
11,719
(388)
130,357
6,353
136,710
27,529
3,565
31,094|**_2023 total_**
**_£_**
100,287
1,412
1,116
1,513
5,439
1,750
898
150
1,488
2,084
10,809
-|
|||126,946
33,355
160,301
**_2023 total_**
**_£_**
-
16,873
8,771
6,631
1,080|
||157,886
9,918
167,804||
||**_unrestricted_**
**_funds_**
**_restricted funds_**
**_2024 total_**
**_£_**
**_£_**
**_£_**
-
-
-
11,028
3,565
14,593
6,087
-
6,087
8,488
-
8,488
1,926
-
1,926
27,529
3,565
31,094
**_2024_**
**_£_**
11,719.
(388)
660.||
|||33,355|
|||**_2023_**
**_£_**
10,809
-
630|
## **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.
## **Trustees’ Remuneration**
No Trustee received any remuneration from the charity during the year nor were any expenses which had been incurred by the Trustees refunded to them.
## **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 £109,041, comprising salaries of £97,953, Employers’ NI contributions of £7,038 and Employer’s Pension Contributions of £4,050.
**8**
**9**
**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**
**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 INCOME/(EXPENDITURE) AND NET MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|**_unrestricted_**
**_funds_**
**_£_**
**_restricted_**
**_funds_**
**_£_**
**_2023_**
**_total_**
**_£_**
93,090
2,180
95,270
67,974
4,192
72,166
22,237
298
22,535|
|---|---|
||183,301
6,670
189,971
5,000
1,064
6,064|
||188,301
7,734
196,035
341
-
341|
||188,642
7,734
196,376|
||17,449
5,353
22,802
151,162
9,139
160,301|
||168,611
14,492
183,103|
||20,031
(6,758)
13,273
332,916
23,447
356,363|
||352,947
16,689
369,636|
## **Parklands Evangelical Church CIO_______________________________________________** 13
## **12**
|**Tangible Fixed Assets**
**Valuation and Cost**
At 1 April 2023
Additions
Disposals
At 31 March 2024
**Depreciation**
At 1 April 2023
Charge for the year
Eliminated on disposals
At 31 March 2024
**Net Book Value**
At 31 March 2024
At 31 March 2023|**_property_**
**_£_**
**_fixtures, fittings_**
**_and equipment_**
**_£_**
**_total_**
**_£_**
250,000
102,118
352,118
-
4,846
4,846
-
(3,753)
(3,753)|
|---|---|
||250,000
103,211
353,211|
||12,000
81,726
93,726
4,000
7,719
11,719
-
(3,091)
(3,091)|
||16,000
86,354
102,354|
||234,000
16,857
250,857|
||238,000
20,392
258,392|
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 2024. 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|**_2024_**
**_£_**
6,391
2,136
8,527
**_2024_**
**_£_**
-
701
660
1,361|**_2023_**
**_£_**
5,604
2,428|
|---|---|---|
|||8,032|
|||**_2023_**
**_£_**
-
940
630|
|||1,570|
|**Movement in Funds**
**_At 10 October 201_**
**_£_**
**Restricted Funds**
Special Support Fund–formerly Hardship and Care Funds
Emanate Fund
Care Fund – now part of Special Support Fund
nternational Justice Mission
City & County of Swansea WHG* 2023 and 2024
City & County of Swansea Summer Kids 2023
Other Restricted Funds
**Unrestricted Funds**
General
**TOTAL FUNDS**|**_9_**
**_At 1 April 2023_**
**_Net Movement_**
**_in Funds during active_**
**_period_**
**_At 31 March 2024_**
**_£_**
**_£_**
**_£_**
11,795
1,526
13,321
3,297
(1,717)
1,580
204
(204)
-
-
-
-
394
610
1,004
-
-
-
999
(999)
-|
|---|---|
||16,689
(784)
15,905
352,947
11,183
364,130|
||**369,636**
**10,399**
**380,035**|
_* Warm Hub Grant_
Net movement in funds included in the above are as follows :
|**Restricted Funds**
Special Support Fund – formerly Hardship and Care Funds
Emanate Fund
Care Fund – now part of Special Support Fund
International Justice Mission
City & County of Swansea WHG* 2023 and 2024
City & County of Swansea Summer Kids 2023
Other Restricted Funds
**Unrestricted Funds**
General
**TOTAL FUNDS**|**_Income_**
**_Expenditure_**
**_Transfers_**
**_Movement in Funds_**
**_£_**
**_£_**
**_£_**
**_£_**
26
-
1,500
1,526
-
1,717
-
(1,717)
2,000
704
(1,500)
(204)
2,725
2,725
-
-
2,116
1,506
-
610
4,000
4,000
-
-
2,555
3,554
-
(999)|
|---|---|
||13,422
14,206
-
(784)
184,701
173,518
-
11,183|
||**198,123**
**187,724**
**-**
**10,399**|
**Parklands Evangelical Church CIO_______________________________________________** 14
**16**
## **Restricted Funds**
## **Special Support Fund – formerly Hardship and Care Funds**
In previous years the Church maintained a Hardship Fund, from which gifts or flexible, interest-free loans were made to those known to be in financial hardship and a Care Fund (see below) which was established to enable the Church to respond to those in financial need due to the covid pandemic or the cost of living crisis. As the objectives of both of these funds were largely aligned it was considered that they should be combined and renamed the Special Support Fund. Agreement to this consolidation was obtained from donors to the Hardship and Care Funds and the funds were then duly merged during the year. The combined fund is now in operation and is to make grants to those in financial need. The combined funds held at 1 April 2023 totalled £11,999. During the year income totalling £2,026 was received by the funds which now form the Special Support Fund while grants totalling £704 were made. At the period end the new fund held cash of £13,321, which formed part of the Church’s bank balances.
## **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 £3,297 was held at 1 April 2023. During the period a further £1,717 of the grant was used, leaving a fund of £1,580 at 31 March 2024, comprising of fixed assets used in this project.
## **Care Fund – now part of the Special Support Fund**
As noted above in the note on the Special Support Fund, the assets of the Care Fund were combined with those of the Hardship Fund to form the Special Support Fund. The funds transferred from the Care Fund to the Special Support Fund in the year totalled £1,500.
## **Grant Fund - International Justice Mission – (“IJM”)**
During the year the Church raised funds totalling £2,725 for the benefit of IJM, a company registered as a charity which works to protect people in poverty from violence. These funds were donated to IJM in the year. This donation exhausted the fund, which held no assets as at 31 March 2024.
## **Warm Hub Grants (“WHGs”) 2023 and 2024**
With the agreement of City & County of Swansea the unspent balance of the 2023 Warm Hub Grant of £394 was used in the Spring of 2023 to partially fund a “Pop In” centre, the Church’s expansion of the Warm Hub concept. During the year the Church received a 2024 Warm Hub Grant of £2,000 from the City & County of Swansea to fund a Warm Hub through another season. Other sundry restricted funds of £116 were also received while £1,506 was spent, leaving a cash balance of £1,004 at 31 March 2024, which formed part of the Church’s bank balances at that date. The fund was fully spent after the year end.
## **Summer Kids Club 2023**
During the year the Church received a grant of £4,000 from City & County of Swansea to fund a Summer Kids Club during the Summer months of 2023. By 31 March 2024 expenditure of £4,000 had been incurred, exhausting the fund, which held no assets at the year end.
## **Other Restricted Funds**
Other restricted funds of £999 were held at 1 April 2023. Other Restricted Funds totalling £2,555 were received during the period. A total of £3,621 was spent during the period. As a result no balances were held in Other Restricted Funds at 31 March 2024.
## **Analysis of net assets between funds**
|Tangible fixed assets
Current assets
Liabilities
**Net assets**
Tangible fixed assets
Current assets
Liabilities
**Net assets**|_Unrestricted_
_Funds_
_Restricted_
_Funds_
**_Total Funds_**
**_2024_**
_£_
_£_
**_£_**
249,278
1,579
250,857
116,213
14,326
130,539
(1,361)
-
(1,361)|
|---|---|
||364,130
15,905
380,035|
||_Unrestricted_
_Funds_
_Restricted_
_Funds_
_Total Funds_
_2023_
_£_
_£_
_£_
255,095
3,297
258,392
99,422
13,392
112,814
(1,570)
-
(1,570)|
||352,947
16,689
369,636|
The charity operates a defined contribution pension scheme for those employees wishing to participate in its pension arrangements. During the year the charity paid £4,050 (2023 - £4,792) into pension schemes for participating members of staff. At the balance sheet date there were no outstanding or prepaid contributions.
The aggregate value of unconditional donations made by the Trustees in the year to 31 March 2024 was £18,900 (2023 - £15,970).
**17 Pension Commitments**
**18 Related Party Disclosures**