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2023-01-31-accounts

Eastbourne Christian Resources

Charity Registration Number 1186057 Charitable Incorporated Organisation

Report and Unaudited Financial Statements for the Year Ended 31 January 2023

Eastbourne Christian Resources

Report and Unaudited Financial Statements for the Year Ended 31 January 2023

Contents

Page
Trustees’ Report 1 – 3
Statement of Financial Activities 4
Statement of Financial Position 5
Notes to the Financial Statements 6 – 12

Eastbourne Christian Resources

Trustees' Report for the Year Ended 31 January 2023

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 R H Clark Mr C A Jackson Mrs S J Medway Mr R E Wilkinson

Secretary

Mrs S J Medway

Principal address

Eastbourne Christian Resource Centre 91-93 Seaside Road, Eastbourne, East Sussex BN21 3PL

Senior Management

Mr R H Clark Retail Manager Mrs S J Medway Retail Manager Mr R E Wilkinson Administration

Page 1

Eastbourne Christian Resources

Trustees' Report for the Year Ended 31 January 2023

The trustees of Eastbourne Christian Resources present their report for the year ended 31 January 2023, together with the unaudited 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).

No independently examination of this report has been carried out. The charity’s constitution, section “24. Accounting records, accounts, annual reports and returns, register maintenance”, provides no specific requirements relating to independent examination of annual reports, which together with the Charity Commission guidance that an independent examination is not required if the CIO’s gross income is less than £25,000 in the financial year, has been adopted by the trustees for this report.

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 was 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 2022, immediately following the closure of the charity operations of the previous year on 31 January 2022. The trustees had accepted that continuing the charitable activities under an unsustainable format of financial losses was no longer appropriate.

The trustees are grateful to all the staff and volunteer helpers for their dedicated service throughout these difficult times, and particularly adverse conditions.

Following closure of the charitable activity at the end of January 2022, the trustees proceeded with winding up the charity. Having unanimously agreed a dissolution resolution, the trustees ensured that any debts and other liabilities of the CIO were settled or otherwise provided for in full and any remaining assets (including land or property) transferred to other charities prior to dissolution.

The freehold property at 91-93 Seaside Road, Eastbourne, was donated to a local charity as a weekend drop-in venue for homeless and vulnerable people in the town and for other meeting purposes including private appointments; collaborative work with other agencies; support and recovery groups. 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 remaining surplus cash assets were being donated to other charities with similar objects.

Financial review

The results for the year ended 31 January 2023 are shown in the attached financial statements.

Income from charitable activity at £1,156 was a result of some residual transactions, following the end of trading operations in the previous period. Investment income was £1,495. Income from sale of assets, including surplus furniture and fittings was £765.

Resources expended of £158,118, included the costs, and some refunds, in closing services and contracts, donations of surplus assets and governance costs of winding up, as shown on page 4 and in notes 6 to 13 on pages 8 to 10.

Page 2

Eastbourne Christian Resources

Trustees' Report for the Year Ended 31 January 2023

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. Trustees' meetings were usually held quarterly to consider the operational performance for the previous quarter. In addition, special meetings were held as necessary to consider any other issues that may arise and the trustees are in frequent contact with each other.

Post Balance Sheet Events

Winding Up and Dissolution

At the time of approving the accounts, the trustees declare that the charity was completing a voluntary winding up and dissolution process.

By Order of the Board of Trustees

Eastbourne Christian Resources, CIO, 91-93 Seaside Road, Eastbourne, BN21 3PL

Mr Robert E Wilkinson Trustee dated 21 April 2023

Page 3

Eastbourne Christian Resources

Statement of Financial Activities including Income and Expenditure Account for the Year Ended 31 January 2023

Year ended 31 January 2023
Year ended 31 January 2022
Unrestricted
Total
Unrestricted
Total
funds
funds
funds
funds
Note
£
£
£
£
Income and endowments from:
Donations and legacies
2
-
-
310
310
Government grants
3
-
-
4,651
4,651
Charitable activities
4
1,156
1,156
39,612
39,612
Investment income
5
1,495
1,495
2,065
2,065
Total income and endowments
2,651
2,651
46,638
46,638
Expenditure on:
Charitable activities
Costs of Christian Resource Centre
6
3,118
3,118
65,301
65,301
Donations
7
155,000
155,000
-
-
Total expenditure
158,118
158,118
65,301
65,301
Net income/ (expenditure)
before investment gains/ (losses)
(155,467)
(155,467)
(18,663)
(18,663)
Net gains/ (losses) on investments
12
(2,472)
(2,472)
4,878
4,878
Net gains/ (losses) on sale of assets
13
765
765
270
270
Net gains/ (losses) on revaluation
-
-
71,816
71,816
Net income/(expenditure) for the
year/Net movement in funds
(157,174)
(157,174)
58,301
58,301
Fund balances at 31 January 2022
159,441
159,441
101,140
101,140
Fund balances at 31 January 2023
2,267
2,267
159,441
159,441
Year ended 31 January 2023
Year ended 31 January 2022
Unrestricted
Total
Unrestricted
Total
funds
funds
funds
funds
Note
£
£
£
£
Income and endowments from:
Donations and legacies
2
-
-
310
310
Government grants
3
-
-
4,651
4,651
Charitable activities
4
1,156
1,156
39,612
39,612
Investment income
5
1,495
1,495
2,065
2,065
Total income and endowments
2,651
2,651
46,638
46,638
Expenditure on:
Charitable activities
Costs of Christian Resource Centre
6
3,118
3,118
65,301
65,301
Donations
7
155,000
155,000
-
-
Total expenditure
158,118
158,118
65,301
65,301
Net income/ (expenditure)
before investment gains/ (losses)
(155,467)
(155,467)
(18,663)
(18,663)
Net gains/ (losses) on investments
12
(2,472)
(2,472)
4,878
4,878
Net gains/ (losses) on sale of assets
13
765
765
270
270
Net gains/ (losses) on revaluation
-
-
71,816
71,816
Net income/(expenditure) for the
year/Net movement in funds
(157,174)
(157,174)
58,301
58,301
Fund balances at 31 January 2022
159,441
159,441
101,140
101,140
Fund balances at 31 January 2023
2,267
2,267
159,441
159,441
Year ended 31 January 2023
Year ended 31 January 2022
Unrestricted
Total
Unrestricted
Total
funds
funds
funds
funds
Note
£
£
£
£
Income and endowments from:
Donations and legacies
2
-
-
310
310
Government grants
3
-
-
4,651
4,651
Charitable activities
4
1,156
1,156
39,612
39,612
Investment income
5
1,495
1,495
2,065
2,065
Total income and endowments
2,651
2,651
46,638
46,638
Expenditure on:
Charitable activities
Costs of Christian Resource Centre
6
3,118
3,118
65,301
65,301
Donations
7
155,000
155,000
-
-
Total expenditure
158,118
158,118
65,301
65,301
Net income/ (expenditure)
before investment gains/ (losses)
(155,467)
(155,467)
(18,663)
(18,663)
Net gains/ (losses) on investments
12
(2,472)
(2,472)
4,878
4,878
Net gains/ (losses) on sale of assets
13
765
765
270
270
Net gains/ (losses) on revaluation
-
-
71,816
71,816
Net income/(expenditure) for the
year/Net movement in funds
(157,174)
(157,174)
58,301
58,301
Fund balances at 31 January 2022
159,441
159,441
101,140
101,140
Fund balances at 31 January 2023
2,267
2,267
159,441
159,441
2,651
2,651
46,638
46,638
3,118
3,118
65,301
155,000
155,000
-
65,301
-
158,118
158,118
65,301
65,301
(155,467)
(155,467)
(18,663)
(2,472)
(2,472)
4,878
765
765
270
-
-
71,816
(18,663)
4,878
270
71,816
(157,174)
(157,174)
58,301
159,441
159,441
101,140
58,301
101,140
2,267
2,267
159,441
159,441

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

Page 4

Eastbourne Christian Resources

Balance Sheet as at 31 January 2023

Notes
Fixed assets
Investment Property
14
Investments
15
Total fixed assets
Current assets
Debtors
18
Cash at bank and in hand
Total current assets
Creditors: amounts falling due
within one year
19
Net current assets
Total assets less current liabilities
Net assets
Income funds
Unrestricted funds
20
Net charity funds
At 31 January 2023
£
£
-
-
-
-
2,267
2,267
-
2,267
2,267
2,267
2,267
2,267
At 31 January 2023
£
£
-
-
-
-
2,267
2,267
-
2,267
2,267
2,267
2,267
2,267
At 31 January 2022
£
£
100,000
43,839
143,839
930
17,853
18,783
3,181
15,602
159,441
159,441
159,441
159,441
At 31 January 2022
£
£
100,000
43,839
143,839
930
17,853
18,783
3,181
15,602
159,441
159,441
159,441
159,441
-
2,267
143,839
15,602
2,267
-
18,783
3,181
2,267 159,441
2,267 159,441
2,267 159,441
2,267 159,441

The notes on pages 6 to 12 form part of these financial statements.

The accounts were approved by the trustees on 21 April 2023

Mr Robert E Wilkinson Trustee

Page 5

Eastbourne Christian Resources

Notes to the Financial Statements for the Year Ended 31 January 2023

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.

1.3 Charitable funds

Unrestricted funds were distributed at the discretion of the trustees in furtherance of their charitable objectives.

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.

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.

Page 6

Eastbourne Christian Resources

Notes to the Financial Statements (continued) for the Year Ended 31 January 2023

1 Accounting policies (Continued)

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.

There were no tangible fixed assets in the period.

1.7 Fixed asset investments

The freehold building was classified as investment property as it was no longer an operational asset.

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.

Disposal of the freehold building was shown in the financial activities as a donation.

Disposal of the investments was shown in the financial activities as a donation.

2 Donations and legacies Year ended 31 January 2023 January 2023 Year ended 31 January
2022
Unrestricted Total Unrestricted Total
funds 2023 funds 2022
£ £ £ £
Donations and gifts - - 310 310
- - 310 310
3
Government grants
Support grants
Job Retention Scheme
Year ended 31 January 2023
Year ended 31 January
2022
Unrestricted
Total
Unrestricted
Total
funds
2023
funds
2022
£
£
£
£
-
-
2,096
2,096
-
-
2,555
2,555
-
-
4,651
4,651

Page 7

Eastbourne Christian Resources

Notes to the Financial Statements (continued) for the Year Ended 31 January 2023

4 Income from charitable activities

4 Income from charitable activities Year ended 31 January 2023 Year ended 31 January
2022
Unrestricted Total
Unrestricted
Total
funds 2023 funds 2022
£ £ £ £
Sale of goods 1,156 1,156 39,612 39,612
1,156 1,156 39,612 39,612
5 Investment income Year ended 31 January 2023 Year ended 31 January
2022
Unrestricted Total
Unrestricted
Total
funds 2023 funds 2022
£ £ £ £
Investment dividend income 1,495 1,495 2,065 2,065
1,495 1,495 2,065 2,065
6 Charitable activities Year ended 31 January 2023 Year ended 31 January
2022
Unrestricted Total Unrestricted Total
funds 2023 funds 2022
Costs of Christian Resource £ £ £ £
Centre
Cost of goods sold 10
10

34,944

34,944
Share of support costs (note8) 2,622
2,622

29,607

29,607
Share of governance costs (note9) 486
486
750 750
3,118 3,118 65,301
65,301
7 Donations Year ended 31 January 2023 Year ended 31 January
2022
Unrestricted Total Unrestricted Total
funds 2023 funds 2022
Donation of surplus assets £ £ £ £
Investment property 100,000
100,000
- -
Local charities 45,000
45,000
- -
National/International charities 10,000
10,000
- -
155,000 155,000 - -
7 Donation details Year ended 31 January 2023 Year ended 31 January
2022
Unrestricted Total Unrestricted Total
funds 2023 funds 2022
Donation of surplus assets £ £ £ £
Kingdom Way Trust 100,000
100,000
- -
Eastbourne Street Pastors 9,000
9,000
- -
The Matthew 25 Mission 9,000
9,000
- -
Speak Life 9,000
9,000
- -
Beachy Head Chaplaincy 9,000
9,000
- -
Linking Lives Eastbourne 9,000
9,000
- -
Torch Trust for the Blind 5,000
5,000
- -
Book Aid Charitable Trust 5,000
5,000
- -
155,000 155,000 - -

Page 8

Eastbourne Christian Resources

Notes to the Financial Statements (continued) for the Year Ended 31 January 2023

8
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
Management fees
Total
9
Governance costs
Accountancy
Legal Fees
Year ended 31 January 2023
Unrestricted
Total
Basis of
costs
2023
allocation
£
£
-
-
-
-
-
-
768
768
355
355
-
-
866
866
890
890
-
-
(286)
(286)
-
-
(123)
(123)
152
152
-
-
2,622
2,622
Year ended 31 January 2023
Unrestricted
Total
Basis of
costs
2023
allocation
£
£
150
150
Governance
336
336
Governance
486
486
Year ended 31 January 2022
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
Year ended 31 January 2022
Unrestricted
Total
Basis of
costs
2022
allocation
£
£
750
750
Governance
-
-
750
750

The support costs and governance costs are apportioned to the activity of the Eastbourne Christian Resource Centre

Page 9

Eastbourne Christian Resources

Notes to the Financial Statements (continued) for the Year Ended 31 January 2023

10 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

11 Employees

The average monthly number of employees during the year was:

2023 2022 2022
Number Number
Sales and administration - 2
Employment costs Year ended 31 January 2023 Year ended 31 January
2022
Unrestricted Total Unrestricted Total
funds 2023 funds 2022
£ £ £ £
Wages and salaries - -
17,327
17,327
Pension costs - - 374 374
- -
17,701
17,701

Employer’s National Insurance costs during the period were offset by the government Employment Allowance. There were no employees whose annual remuneration was £60,000 or more.

12 Gains/ (losses) on investments Year ended 31 January 2023 Year ended 31 January 2023 Year ended 31 January
2022
Unrestricted Total Unrestricted Total
funds 2023 funds 2022
£ £ £ £
Fixed asset investment revaluation
to quoted market value (2,472) (2,472) 4,878 4,878
13 Other incoming resources Year ended 31 January 2023 31 January 2023 Year ended 31 January
2022
Unrestricted Total Unrestricted Total
funds 2023 funds 2022
£ £ £ £
Income from disposal of fixed assets 765 765 270 270

Page 10

Eastbourne Christian Resources

Notes to the Financial Statements (continued) for the Year Ended 31 January 2023

14

15

Tangible fixed assets
Cost
At 1 February 2022
Additions
Disposals
At 31 January 2023
Depreciation and impairment
At 1 February 2022
Depreciation charge for the year
Disposals
At 31 January 2023
Asset reclassification
Transfer to investment property
Carrying amount
At 31 January 2023
At 31 January 2022
Fixed asset investment property
Cost or valuation
At 31 January 2022
Additions
Reductions
Revaluations
At 31 January 2023
Carrying value
At 31 January 2023
At 31 January 2022
Year ended 31 January 2023
Land and
buildings
Equipment
Furniture
and fittings
£
£
£
-
-
-
-
-
-
-
-
-
Total
2023
Total
2022
£
£

-
69,719

-
-
-
(19,253)
-
50,466

-
40,214

-
1,321
-
(19,253)
-
22,282
-
(28,184)
-
-
-
29,505
2023
2022
£
£
100.000
28,184
-
-
(100,000)
-
71,816
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
100,000
-
100,000
100,000
-

During the period, the freehold building investment property was donated.

16
Fixed asset investments
Cost or valuation
At 1 February 2022
Additions
Reductions
Revaluations
At 31 January 2023
Carrying value
At 31 January 2023
At 31 January 2022
Listed
investments
Total
£
£
43,839
38,961
-
-
(41,367)
-
(2,472)
4,878
-
43,839
-
43,839
43,839
38,961

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. During the period the investment money was donated.

Page 11

Eastbourne Christian Resources

Notes to the Financial Statements (continued) for the Year Ended 31 January 2023

17

18

19

20

Financial instruments
31 January
2023
31 January
2022
£
£
Financial assets:
Resources available to the charity
Debtors and cash at bank and in hand
2,267
18,783
Financial liabilities
Claims on the charity’s resources
Trade, other creditors and accruals
-
3,181
Debtors
31 January
2023
31 January
2022
£
£
Prepayments and accrued income
-
930
-
930
Creditors: amounts falling due within one year
31 January
2023
31 January
2022
£
£
Trade creditors
-
830
Other creditors
-
1,268
Accruals
-
1,083
-
3,181
Analysis of net assets between funds
Year ended 31 January 2023
Year ended 31 January 2022
Unrestricted
Total
Unrestricted
Total
funds
funds
funds
funds
£
£
£
£
Fund balances at 31 January 2023
are represented by:
Tangible fixed assets and investments
-
-
143,839
143,839
Current assets/ (liabilities)
2,267
2,267
15,602
15,602
Net fund balances
2,267
2,267
159,441
159,441
Financial instruments
31 January
2023
31 January
2022
£
£
Financial assets:
Resources available to the charity
Debtors and cash at bank and in hand
2,267
18,783
Financial liabilities
Claims on the charity’s resources
Trade, other creditors and accruals
-
3,181
Debtors
31 January
2023
31 January
2022
£
£
Prepayments and accrued income
-
930
-
930
Creditors: amounts falling due within one year
31 January
2023
31 January
2022
£
£
Trade creditors
-
830
Other creditors
-
1,268
Accruals
-
1,083
-
3,181
Analysis of net assets between funds
Year ended 31 January 2023
Year ended 31 January 2022
Unrestricted
Total
Unrestricted
Total
funds
funds
funds
funds
£
£
£
£
Fund balances at 31 January 2023
are represented by:
Tangible fixed assets and investments
-
-
143,839
143,839
Current assets/ (liabilities)
2,267
2,267
15,602
15,602
Net fund balances
2,267
2,267
159,441
159,441
31 January
2023
31 January
2022
£
£
2,267
18,783
-
3,181
-
930
31 January
2023
31 January
2022
£
£
-
830
-
1,268
-
1,083
-
3,181
Year ended 31 January 2022
Unrestricted
Total
funds
funds
£
£
143,839
143,839
15,602
15,602
159,441
159,441
2,267
2,267

Page 12