Eastbourne Christian Resources
Charity Registration Number 1186057 Charitable Incorporated Organisation
Annual Report and Unaudited Financial Statements for the Year Ended 31 January 2022
Eastbourne Christian Resources
Annual Report and Unaudited Financial Statements for the Year Ended 31 January 2022
Contents
| Page | |
|---|---|
| Trustees’ Annual Report | 1 – 4 |
| Independent Examiner’s Report | 5 |
| Statement of Financial Activities | 6 |
| Statement of Financial Position | 7 |
| Notes to the Financial Statements | 8 – 14 |
Eastbourne Christian Resources
Trustees' Report for the Year Ended 31 January 2022
Legal and Administrative information
Legal Status
Eastbourne Christian Resources is a Charitable Incorporate Organisation, registered with the Charity Commission on 30 October 2019, registered number 1186057
The Charity also uses the name “Eastbourne Christian Resource Centre” within the scope of its activities.
Trustees
Mr K Campbell resigned 20 April 2021 Mr R Clark Mr C A Jackson Mrs S Medway Mr H S Thornett resigned 25 April 2021 Mr R E Wilkinson
Secretary
Principal address
Mrs S Medway Eastbourne Christian Resource Centre 91-93 Seaside Road, Eastbourne, East Sussex BN21 3PL
Independent examiner
Mr M N Preece BA FCA DChA, Price and Company, 30-32 Gildredge Road, Eastbourne, East Sussex BN21 4SH
Contact Information
Eastbourne Christian Resource Centre Telephone: 01323 732070 Website: www.eastbournecrc.com
Senior Management
Mr D Ingham, Business Manager left 31 May 2021 Mrs D Melvin, Joint Manager left 4 April 2021 Mrs C Paskins, Joint Manager left 4 April 2021 Mr R Clark Retail Manager from 14 April 2021 Mrs S Medway Retail Manager from 14 April 2021 Mr R Wilkinson Administration from 14 April 2021
Page 1
Eastbourne Christian Resources
Trustees' Report for the Year Ended 31 January 2022
The trustees of Eastbourne Christian Resources present their report for the year ended 31 January 2022, together with the unaudited, independently examined, financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's constitution, 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” (FRS102) (second edition).
Objectives and activities
The objects of the charity are the furtherance of the Christian Gospel in the United Kingdom or elsewhere for the public benefit and for the promotion of the Lord’s work in any way which the CIO shall deem fit. Its main activity has been the establishment of a Christian Resource Centre for the provision of Christian resources, Bibles, commentaries, biographies, music CD and DVD, for the promotion of Christianity and the encouragement of Christian witness in Eastbourne and further afield, for the benefit of the public good.
Public benefit
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake for the public benefit.
Achievements and performance
The reporting period began on 1 February 2021 during a time of national lockdown relating to the Covid-19 pandemic. During the lockdown, the operating premises were closed to the public, except for telephone and on-line orders, which were satisfied by postal despatch to our valued customers.
The business manager was able to despatch the telephone orders, and attend to financial matters, including applications for the small business grants and submitting furlough grant requests, for which the trustees are extremely grateful. Under the government Coronavirus Job Retention Scheme, four of the five paid employees were furloughed, until plans for restarting operations could be allowed. All volunteers were asked to self-isolate in accordance with the government instructions.
Costs were reduced, in as much as was possible, to minimise overheads, but the massive decline in income meant operations would be unsustainable over more than a few months.
Following the government instructions for easing of lockdown, arrangements were put in place, ready for limited reopening in April. Although able to reopen, activity levels were limited by the continued pandemic and lower than normal level of customers’ visiting.
The trustees are grateful to all the staff and volunteer helpers for their dedicated service throughout the year, of continuing to work in particularly adverse conditions, whilst still maintaining commitment for the ministry. The trustees express special thanks for the help and support provided by local donors.
As a consequence of the review started in 2020 the trustees believed that continuing the charitable activities under an unsustainable format of financial losses was no longer honest and honourable to depend on donation and volunteer support. Several possible options were considered, including closing the charity completely; selling the premises and stock; passing the operation to other charities with similar aims; running a much reduced retail operation in partnership with churches which would need staffing but run by volunteers; withdrawing from high street retail and operating solely as an online and events sales operation, which could run from current premises or from a warehouse unit.
Page 2
Eastbourne Christian Resources
Trustees' Report for the Year Ended 31 January 2022
Achievements and performance (continued)
The initial desire was not to close the charity but to run a reduced retail operation, including lower level of stock holding, reducing the number of paid staff, more volunteers and more online marketing. This plan prompted three members of the existing staff to terminate their employment, earlier than expected. This early exit of senior staff resulted in the trustees taking part in the retail and administration work of the charity.
As the charity activity continued during the summer of 2021, enquiries by the trustees resulted in a possible alternative way forward for use of the premises, whilst still furthering the charity objects of “the furtherance of the Christian Gospel in the UK or elsewhere and for the promotion of the Lord’s work in any way which the CIO shall deem fit for the public benefit”.
A local charity indicated that it was looking for suitable premises as a weekend drop-in venue for homeless and vulnerable people in the town. In addition, the charity needed additional space for private appointments; collaborative work with other agencies; support and recovery groups; Christian Alpha Courses; a meeting place and hub for the benefit of those they work with. The charity’s stated objects being, “To advance the Christian faith in accordance with the statement of beliefs in such ways and in such parts of the United Kingdom or the world as the Trustees may from time-to-time think fit.”
The trustees of Eastbourne Christian Resources (ECR) invited this local charity to explore a way forward, which would suit its needs and would ensure a continuing Christian presence in this area of the town. It was soon agreed in principle to cease operation of ECR charitable activities and pass on the freehold of the property for this alternate use.
Financial review
The results for the year ended 31 January 2022 are shown in the attached financial statements.
Total income of £46,638 as shown on page 6 and in notes 2 to 5 on page 10, was less than the previous year.
Donations, gratefully received from supporters of the charity, at £310, were more than those in the previous period.
Income from charitable activity at £39,612 was slightly more than expected despite the difficult trading conditions. However, in recognition of the government lockdown regulations, the charity received £2,555 by way of furlough grant under the Coronavirus Job Retention Scheme and £2,096 other grants as shown on page 6 and in note 3 on page 10.
Investment income at £2,065 was more than in the previous period.
Resources expended of £65,301 were lower than the previous period, due to the reduced activity level, as shown on page 6 and in notes 6 to 10 on pages 10 to 12.
The result of charitable trading activities, including the government grants directly related to the enforced restrictions from the covid-19 pandemic, was a deficit of £21,038, and the overall result, including generated funds, gains and revaluation on investment, and income from sale of assets, was a surplus for the year of £58,301 as shown on page 6.
The balance sheet showed sufficient net current assets amount at £15,602, with cash balances sufficient to cover current creditors, as shown on page 7 and in notes 13 to 19 on pages 12 to 14.
Page 3
Eastbourne Christian Resources
Trustees' Report for the Year Ended 31 January 2022
Structure, governance and management
The charity is a charitable incorporated organisation, incorporated by the Charity Commission on the 30 October 2019, and began operations on 1 February 2020.
The charity constitution provides for a minimum of three trustees, with no maximum. New trustees are to be appointed by the existing trustees, a majority of whom must approve the necessary resolution. Such persons are to be made aware of their responsibilities, the history and procedures of the charity and should receive a copy of the previous year's accounts.
Trustees' meetings are usually held quarterly to consider the management accounts for the previous quarter, and receive reports from the managers of the Eastbourne Christian Resource Centre. In addition, special meetings are held as necessary to consider any other issues that may arise and the trustees are in frequent contact with each other.
The trustees annually review the risks that the charity faces. Those relating to the premises and employment of staff have been covered by proper procedures and insurance. Trading performance is kept under constant review and the profitability of the Eastbourne Christian Resource Centre monitored carefully. The financial security of the charity is assured by the ownership of the freehold property.
Plans for the future
Following closure of the charitable activity at the end of January 2022, the trustees will proceed with winding up the charity. Having unanimously agreed a dissolution resolution, the trustees intend that any debts and other liabilities of the CIO will be settled or otherwise provided for in full and any remaining assets (including land or property) will be transferred to other charities prior to dissolution.
Post Balance Sheet Events
Going Concern
At the time of approving the accounts, the trustees declare that the charity has adequate resources to fulfil any existing and expected liabilities in this post balance sheet period of voluntary winding up and dissolution. The charity trustees no longer adopt the going concern basis of accounting and will decide how any remaining assets of the CIO shall be applied prior to dissolution.
By Order of the Board of Trustees
Eastbourne Christian Resources, CIO, 91-93 Seaside Road, Eastbourne, BN21 3PL
Mr Robert H Clark (Chairman) Trustee dated 15 June 2022
Page 4
Eastbourne Christian Resources
Independent Examiner's Report to the Trustees of Eastbourne Christian Resources
I report to the Trustees on my examination of the accounts of Eastbourne Christian Resources (the charity) for the year ended 31 January 2022, which are set out on pages 6 to 14.
Respective responsibilities of Trustees and examiner
The Charity's Trustees are responsible for the preparation of the accounts. The Charity's Trustees consider that an audit is not required for this period under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
(i) examine the accounts under section 145 of the 2011 Act
(ii) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
(iii) to state whether particular matters have come to my attention
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner's statement
Your attention is drawn to the fact that the Charity has prepared accounts in accordance with the Financial Reporting Standard Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
In connection with my examination, no other matter except that referred to in the previous paragraph has come to my attention:
-
(a) which gives me reasonable cause to believe that in any material respect the requirements:
-
(i) to keep accounting records in accordance with section 130 of the 2011 Act; and
-
(ii) to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act;
have not been met; or
- (b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
M N Preece BA FCA DChA Chartered Accountant Price & Company 30-32 Gildredge Road, Eastbourne, East Sussex BN21 4SH
Dated: 20 June 2022
Page 5
Eastbourne Christian Resources
Statement of Financial Activities including Income and Expenditure Account for the Year Ended 31 January 2022
| Note Income and endowments from: Donations and legacies 2 Government grants 3 Charitable activities 4 Investment income 5 Total income and endowments Expenditure on: Charitable activities Costs of Christian Resource Centre 6 Total expenditure Net income/ (expenditure) before investment gains/ (losses) Net gains/ (losses) on investments 11 Net gains/ (losses) on sale of assets 12 Net gains/ (losses) on revaluation Net income/(expenditure) for the year/Net movement in funds Fund balances at 31 January 2021 Fund balances at 31 January 2022 |
Unrestricted Total Unrestricted funds funds funds 2022 2022 2021 £ £ £ 310 310 270 4,651 4,651 27,231 39,612 39,612 39,180 2,065 2,065 1,870 |
Total funds 2021 £ 270 27,231 39,180 1,870 |
|---|---|---|
| 46,638 46,638 68,551 |
68,551 | |
| 65,301 65,301 68,441 |
68,441 | |
| 65,301 65,301 68,441 |
68,441 | |
| (18,663) (18,663) 110 4,878 4,878 (6,383) 270 270 - 71,816 71,816 - |
110 (6,383) - - |
|
| 58,301 58,301 (6,273) 101,140 101,140 107,413 |
(6,273) 107,413 |
|
| 159,441 159,441 101,140 |
101,140 |
The statement of financial activities includes all gains and losses recognised in the year.
Page 6
Eastbourne Christian Resources
Balance Sheet as at 31 January 2022
| Notes Fixed assets Tangible assets Investment Property 13 Investments 14 Total fixed assets Current assets Stocks 16 Debtors 17 Cash at bank and in hand Total current assets Creditors: amounts falling due within one year 18 Net current assets Total assets less current liabilities Net assets Income funds Unrestricted funds 19 Net charity funds |
2022 £ £ - 100,000 43,839 143,839 - 930 17,853 18,783 3,181 15,602 159,441 159,441 159,441 159,441 |
2022 £ £ - 100,000 43,839 143,839 - 930 17,853 18,783 3,181 15,602 159,441 159,441 159,441 159,441 |
2021 £ £ 29,505 - 38,961 68,466 23,523 1,125 11,673 36,321 3,647 32,674 101,140 101,140 101,140 101,140 |
2021 £ £ 29,505 - 38,961 68,466 23,523 1,125 11,673 36,321 3,647 32,674 101,140 101,140 101,140 101,140 |
|---|---|---|---|---|
| 143,839 15,602 |
68,466 32,674 |
|||
| 18,783 3,181 |
36,321 3,647 |
|||
| 159,441 | 101,140 | |||
| 159,441 | 101,140 | |||
| 159,441 | 101,140 | |||
| 159,441 | 101,140 |
The notes on pages 8 to 14 form part of these financial statements.
The accounts were approved by the trustees on 15 June 2022
Mr Robert H Clark Mr Robert E Wilkinson (Chairman) Trustee Trustee
Page 7
Eastbourne Christian Resources
Notes to the Financial Statements for the Year Ended 31 January 2022
1 Accounting policies
1.1 Basis of preparation
These accounts have been prepared in accordance with the charity's constitution, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice for charities applying the Financial Reporting Standard applicable in the UK and Republic of Ireland” (FRS 102) (second edition). The Charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The accounts 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 Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The accounts are prepared in sterling, which is the functional currency of the company. Monetary amounts in these accounts are rounded to the nearest £.
The accounts have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the accounts, the trustees no longer adopt the going concern basis of accounting and will decide how any remaining assets of the CIO shall be applied prior to dissolution.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts.
The total unrestricted funds of the charity must be applied in accordance with the objects of the CIO as set out in clause 5 of the constitution of Eastbourne Christian Resources, Charitable Incorporated Organisation registered 30 October 2019.
1.4 Income recognition
Income is recognised on receipt by the charity or when the charity has entitlement to the income, the amounts can be measured reliably, and it is probable that the income will be received.
Donation income is recognised on receipt by the charity or when notified it may be deferred income. Gifts of donated goods for resale or distribution are recognised as income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value to the charity. A corresponding amount is recognised in expenditure.
Legacy gifts are recognised on a case by case basis, depending on being notified of an impending distribution, the amount is known, and the receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
Page 8
Eastbourne Christian Resources
Notes to the Financial Statements (continued) for the Year Ended 31 January 2022
1 Accounting policies (Continued)
1.4 Income recognition (continued)
All income is reported gross when raised by the charity, with any fee charged for fundraising reported as a fundraising expense and not offset against fundraising gross income recognised in the accounts. However, in the case of individuals not employed by, or contracted by, the charity who are acting on a purely voluntary basis and outside of the charity’s control, the charity recognises the net amount remitted.
1.5 Expenditure recognition
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to that category. 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.
Support costs are those incurred directly in support of expenditure on the objects of the Charity. Administration and governance costs are those incurred in connection with administration of the Charity and compliance with constitutional and statutory requirements.
1.6 Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Freehold land is not depreciated Freehold buildings 2 % on original cost, annually Equipment, furniture and fittings 20 % on a straight-line basis
Items of equipment are capitalised when costing over £250.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
During the year, the freehold building was revalued, with the difference between the original cost less depreciation and the revaluation being recognised in net income/(expenditure) for the year, as shown on page 6. The freehold building was also reclassified as investment property as it was no longer an operational asset.
1.7 Stock
Stock consists of purchased goods for resale. Following closure of the retail operations, stock was charged to cost of goods sold and all remaining stock fully written off, as no further realisable value was expected.
1.8 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
1.9 Retirement benefits
Payments to retirement benefit schemes are charged as an expense as they fall due. The cost of providing benefits is determined separately for each participating employee.
Page 9
Eastbourne Christian Resources
Notes to the Financial Statements (continued) for the Year Ended 31 January 2022
| 2 Donations and legacies Donations and gifts 3 Government grants Support grants Job Retention Scheme |
Unrestricted Total Unrestricted Total funds 2022 funds 2021 £ £ £ £ 310 310 270 270 |
|---|---|
| 310 310 270 270 |
|
| Unrestricted Total Unrestricted Total funds 2022 funds 2021 £ £ £ £ 2,096 2,096 17,812 17,812 2,555 2,555 9,419 9,419 |
|
| 4,651 4,651 27,231 27,231 |
The trustees’ report financial review on page 3, relates the government grants arising from the enforced restrictions of the covid-19 pandemic, directly to the charitable trading activities.
| 4 Income from charitable activities Sale of goods 5 Investment income Investment dividend income 6 Charitable activities Costs of Christian Resource Centre Cost of goods sold Share of support costs (note7) Share of governance costs (note8) |
Unrestricted Total Unrestricted Total funds 2022 funds 2021 £ £ £ £ 39,612 39,612 39,180 39,180 39,612 39,612 39,180 39,180 Unrestricted Total Unrestricted Total funds 2022 funds 2021 £ £ £ £ 2,065 2,065 1,870 1,870 2,065 2,065 1,870 1,870 Unrestricted Total Unrestricted Total funds 2022 funds 2021 £ £ £ £ 34,944 34,944 23,357 23,357 29,607 29,607 44,334 44,334 750 750 750 750 |
|
|---|---|---|
| 65,301 65,301 68,441 68,441 |
Page 10
Eastbourne Christian Resources
Notes to the Financial Statements (continued) for the Year Ended 31 January 2022
| 7 Support costs Staff costs Depreciation charges Postages and carriage Credit card charges Computer costs Printing and stationery Telephone costs Staff and volunteer costs Miscellaneous expenses Light and heat Repairs and maintenance Rates and water Insurance External event expenses Management fees Total 8 Governance costs Accountancy |
Unrestricted Total Basis of costs 2022 allocation £ £ 17,701 17,701 Staff time 1,321 1,321 1,058 1,058 709 709 1,068 1,068 67 67 560 560 35 35 377 377 1,383 1,383 438 438 1,013 1,013 1,227 1,227 - - 2,650 2,650 29,607 29,607 Unrestricted Total Basis of costs 2022 allocation £ £ 750 750 Governance 750 750 |
Unrestricted Total Basis of costs 2021 allocation £ £ 35,048 35,048 Staff time 1,404 1,404 986 986 723 723 1,306 1,306 70 70 483 483 154 154 511 511 1,808 1,808 434 434 36 36 1,211 1,211 160 160 - - 44,334 44,334 Unrestricted Total Basis of costs 2021 allocation £ £ 750 750 Governance - - 750 750 |
|---|---|---|
The support costs and governance costs are apportioned to the activity of the Eastbourne Christian Resource Centre
Page 11
Eastbourne Christian Resources
Notes to the Financial Statements (continued) for the Year Ended 31 January 2022
9 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
10 Employees
| The | average monthly number of employees during the year was: | average monthly number of employees during the year was: | average monthly number of employees during the year was: | average monthly number of employees during the year was: | 2022 | 2022 | 2021 | 2021 | |||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Number | Number | ||||||||||
| Sales and administration | 2 | 5 | |||||||||
| Employment costs | |||||||||||
| Unrestricted | Total | Unrestricted | Total | ||||||||
| funds | 2022 | funds | 2021 | ||||||||
| £ | £ | £ | £ | ||||||||
| Wages and salaries | 17,327 | 17,327 | 34,412 | 34,412 | |||||||
| Pension costs | 374 | 374 | 636 | 636 | |||||||
| 17,701 | 17,701 | 35,048 | 35,048 | ||||||||
| Employer’s National Insurance costs during the | year were offset by the government Employment | Allowance. | |||||||||
| There were no employees whose annual | remuneration was £60,000 or more. | ||||||||||
| 11 | Gains/ (losses) on investments | ||||||||||
| Unrestricted | Total |
Unrestricted | Total | ||||||||
| funds | 2022 | funds | 2021 | ||||||||
| £ | £ | £ | £ | ||||||||
| Fixed asset investment revaluation | |||||||||||
| to quoted market value | 4,878 | 4,878 | (6,383) | (6,383) | |||||||
| 12 | Other incoming resources | ||||||||||
| Unrestricted | Total |
Unrestricted | Total | ||||||||
| funds | 2022 | funds | 2021 | ||||||||
| £ | £ | £ | £ | ||||||||
| Income from disposal of fixed assets | 270 | 270 | - | - | |||||||
| 13 | Tangible fixed assets | ||||||||||
| Land | and | Equipment | Furniture | Total | Total | ||||||
| buildings | and | fittings | 2022 | 2021 | |||||||
| £ | £ | £ | £ | £ | |||||||
| Cost | |||||||||||
| At 1 February 2021 | 50,466 | 6,633 |
12,620 | 69,719 |
69,719 | ||||||
| Additions | - | - | - | - | - | ||||||
| Disposals | - | (6,633) | (12,620) | (19,253) |
- | ||||||
| At 31 January 2022 | 50,466 | - | - | 50,466 | 69,719 | ||||||
| Depreciation and impairment | |||||||||||
| At 1 February 2021 | 21,273 | 6,321 |
12,620 | 40,214 |
38,810 | ||||||
| Depreciation charge for the year | 1,009 | 312 | - | 1,321 |
1,404 | ||||||
| Disposals | - | (6,633) | (12,620) | (19,253) |
- | ||||||
| At 31 January 2022 | 22,282 | - | - | 22,282 | 40,214 | ||||||
| Asset reclassification | |||||||||||
| Transfer to investment property | (28,184) | - | - | (28,184) | - | ||||||
| Carrying amount | |||||||||||
| At 1 February 2022 | - | - | - | - | 29,505 | ||||||
| At 31 January 2021 | 29,193 | 312 | - | 29,505 |
30,909 |
Page 12
13
Eastbourne Christian Resources
Notes to the Financial Statements (continued) for the Year Ended 31 January 2022
Fixed asset investment property
| Cost or valuation At 31 January 2022 Additions Reductions Revaluations At 31 January 2022 Carrying value At 31 January 2022 At 31 January 2021 |
2022 2021 £ £ 28,184 - - - - - 71,816 - |
|---|---|
| 100,000 - |
|
| 100,000 - |
|
| - - |
During the year, the freehold building was revalued, with the difference between the original cost less depreciation and the revaluation being recognised in net income/(expenditure) for the year, as shown on page 6. The freehold building was also reclassified as investment property as it was no longer an operational asset.
14
| Fixed asset investments Cost or valuation At 1 February 2021 Additions Reductions Revaluations At 31 January 2022 Carrying value At 31 January 2022 At 31 January 2021 |
Listed investments Total £ £ 38,961 45,344 - - - - 4,878 (6,383) |
|---|---|
| 43,839 38,961 |
|
| 43,839 38,961 |
|
| 38,961 45,344 |
The fair value of listed investments is determined by reference to the quoted price of identical assets in an active market at the balance sheet date.
15
| Financial instruments Financial assets: Resources available to the charity Debtors and cash at bank and in hand Financial liabilities Claims on the charity’s resources Trade, other creditors and accruals Stock Books Media (music, CD’s, DVD’s) Cards Gifts and stationery |
2022 2021 £ £ 18,783 12,798 |
|---|---|
| 3,181 3,647 |
|
| 2022 2021 £ £ - 14,419 - 2,035 - 3,784 - 3,285 |
|
| - 23,523 |
16
Page 13
Eastbourne Christian Resources
Notes to the Financial Statements (continued) for the Year Ended 31 January 2022
17
18
19
| Debtors Trade debtors Prepayments and accrued income Creditors: amounts falling due within one year Trade creditors Other creditors Accruals Analysis of net assets between funds Unrestricted Total funds funds 2022 2022 £ £ Fund balances at 31 January 2022 are represented by: Tangible fixed assets and investments 143,839 143,839 Current assets/ (liabilities) 15,602 15,602 Net fund balances 159,441 159,441 |
Debtors Trade debtors Prepayments and accrued income Creditors: amounts falling due within one year Trade creditors Other creditors Accruals Analysis of net assets between funds Unrestricted Total funds funds 2022 2022 £ £ Fund balances at 31 January 2022 are represented by: Tangible fixed assets and investments 143,839 143,839 Current assets/ (liabilities) 15,602 15,602 Net fund balances 159,441 159,441 |
2022 2021 £ £ - - 930 1,125 |
|---|---|---|
| 930 1,125 |
||
| 2022 2021 £ £ 830 2,504 1,268 393 1,083 750 |
||
| 3,181 3,647 |
||
| Unrestricted Total funds funds 2021 2021 £ £ 68,466 68,466 32,674 32,674 101,140 101,140 |
||
| 159,441 159,441 |
Page 14