2022-12-31-accounts

Company No. 12279065 Charity Registration No 1186318

Contents

Contents
		Financial statements for
		the year ended 31 December 2022
Trustees’ report	1 - 8	Woodside Church
Independent Examiner’s report	9
Statement of financial activities	10
Balance sheet	11
Notes to financial statements	12 – 21

• 1 -

Woodside Church

Trustees’ report For the year ended 31 December 2022

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The Trustees have pleasure in presenting their report, together with the financial statements for the year to 31 December 2022.

Legal and administrative details

Woodside Church is a charitable company limited by guarantee; registered with the Charity Commission as charity number 1186318 and registered with Companies House as company number 12279065, The charitable company is governed by the Memorandum and Articles of Association dated 16 October 2019. It is also known and referred to as Woodside Church.

Until 31 January 2020 the charity operated through an unincorporated charitable trust, charity number 1079669. On 1 February 2020 the assets of the unincorporated charity were transferred into this charitable company, Woodside Church, formed on 24 October 2019 and governed by the Memorandum and Articles of Association. For this reason the transitional accounting period end date was changed to 31 January 2020, giving a comparative accounting period of 11 months covered by these accounts and a current accounting period of 12 months.

Trustees and administrators

The Trustees are:	K W Smith – Chairman
	H Masih
	M Tibbert
	T Green
	V Hlomuka
	D Hunt
	H Ebeneezer (appointed 25 August 2022)
	A Jeganathan (appointed 25 August 2022)
	J Oppong
The administration to whom day to day
management is delegated:	D Tooth
The principal address is:	Woodside Christian Centre
	Dover Crescent
	Bedford
	MK41 8QH
The principal bankers are:	National Westminster Bank plc
	81 High Street
	Bedford
	MK40 1YN
The independent examiner is:	Louise Tunley FCA CTA DChA
	Monico Tunley Limited, Chartered Accountants
	19 Goldington Road
	Bedford
	MK40 3JY

• 1 -

Woodside Church

Trustees’ report For the year ended 31 December 2022

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Structure, Governance and Management

Organisational Structure

The charity’s Trustees are responsible for the general control and management of the charity. The Trustees give their time freely and receive no remuneration or other benefits.

The Trustees meet at least twice each year with at least two of the Elders, and more times if circumstances require it. All strategic discussions and decisions are taken by the main body of Trustees at their meetings in relation to the running of the Church, the community facilities and the activities provided by the charity. The day to day management and leadership of the Trust is with the Elders and Pastoral leaders, in conjunction with administration support.

The church is affiliated to the Catalyst group of churches, part of the Newfrontiers family of churches. This is primarily an informal relationship, with no contractual ties.

Recruitment and Appointment of Trustees

New Trustees are appointed by the Elders of the church after full discussion with the existing Trustees. The maximum number of Trustees is 9 and the minimum is 3. Currently there are 9 Trustees.

In selecting new Trustees, the charity seeks to identify people who regularly attend events and functions organised by the charity and are willing to volunteer to help in broader community work. Potential Trustees are given more details of the charity’s aims and activities. If all agree, they are then proposed as new Trustees at the subsequent Trustees’ meeting. This process allows due consideration of the person’s eligibility, personal competence, specialist knowledge and skills.

Induction and Trustee training

When new Trustees join they are given an informal introduction to their role within the church structure and their legal responsibilities. Ongoing training is taken as courses are offered through Stewardship, a Christian financial services group.

Key Management Personnel

The Trustees consider themselves to comprise the key management personnel of the charity in charge of directing and controlling the charity. All Trustees give of their time freely and no Trustee remuneration was paid in the year nor were any expenses reimbursed. The pay of the charity’s staff team is reviewed annually by the Trustees and normally increased in accordance with average earnings.

• 2 -

Woodside Church

Trustees’ report For the year ended 31 December 2022

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Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees Annual Report 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 & Wales requires 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 incoming resources and application of resources of the charity for that year. In preparing these financial statements, the Trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP 2019 (FRS 102);

• make judgements and estimates that are reasonable and prudent;

• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (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.

• 3 -

Woodside Church

Trustees’ report For the year ended 31 December 2022

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Risk Management

The Trustees regularly review the risk assessments undertaken by them and by the various church activities. The Trustees are satisfied that systems are in place to identify and manage the risks which are identified. The principle risk faced by the charity is the reduction in income meaning sufficient funds would not be available to cover the expenditure. The Trustees consider that this risk is adequately mitigated by their policy of holding sufficient reserves in order to ensure the activities of the charity can continue in the event of any variation in funding while alternative funding sources are secured.

Appropriate insurance cover is in place for Public Liability and protection of property and money. All Trustees, Elders and staff, and all volunteers working with children, young people or vulnerable adults are checked through the Disclosure and Barring Services before they are employed or allowed to work voluntarily within the organisation, in accordance with the Child Protection Policy in place.

Objectives and activities (including reporting under Public Benefit)

The Trustees have had due regard for the guidance published by the Charity Commission on public benefit.

Objectives

The objects of the Trust are documented in our trust Deed as follows:

• the advancement in the UK and overseas of the Christian religion as defined by the Statement of Faith of the Church;

• the advancement for the public benefit of religious and other education;

• the relief of the aged, poor, sick and disabled;

• such other charitable purposes as the Trustees in their absolute discretion think fit.

Strategies

The objectives are being pursued through the following strategies:

• regular meetings for worship and the public proclamation of the gospel: these meetings are open to all, for the benefit of the community in the locality;

• weekly meetings in smaller groups to build community spirit and share lives and teaching, for the benefit of the church community, and providing pastoral care and support within that community;

• various activities during the week for Parents and toddlers, children, young people, socially needy people and older people open to all in the locality. This serves the community in our area of Bedford;

• provision of the building to house these meetings and activities;

• provision of staff to facilitate the meeting and activities and care for the congregation and the wider community where appropriate;

• involvement of many volunteers to support the meetings and activities from within the church and elsewhere, and the provision of training and support for the volunteers.

• 4 -

Woodside Church

Trustees’ report For the year ended 31 December 2022

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Contributions of volunteers

The church could not function without the support of its members, both financially and in practical work. Volunteers are the mainstay of all the services, youth work, children’s work and social care support work which the church is involved in both on Sundays and during the week.

Activities and achievements

The charity carries out a wide range of activities in pursuance of its charitable aims, and these aims are for the public benefit as defined by the Charities Act.

The building provides a centre for many activities related to the Christian community meeting there, and to the wider community living in the area. These include:

Sunday Services: Each Sunday we meet for worship and instruction, as well as fellowship and sharing with each other. In 2016 we commenced two services on Sunday mornings, to encourage and stimulate wider attendance. This has continued and in 2018 we started meeting at a second site in the West side of Bedford (Great Denham) for monthly prayer meetings in the local Community Centre and in January 2019 these gatherings turned into a weekly Sunday service. These meetings are and will be open to all, and they are a primary means of making contact with new people from the wider community. These are also the main services for communication of teaching and news to the church community. They are also a source of offerings, but giving is not a condition of attending.

Celebrations: Often at specific times in the Christian calendar, like Christmas and Easter, these services are specifically geared to celebrate these festivals, and extra effort is put into inviting the wider community to join us to explain their meaning.

Pastoral Work: The church provides pastoral support and counselling to its own community, and through members to the wider community. This is provided by both full time paid staff and volunteers.

Small Groups: The church meets during the week in small groups mostly in members homes. This enables closer community ties within the church fellowship to be built, and provides another entry for people from the wider community in that area.

Project41: Project41 is an umbrella initiative to serve the wider community. Connections and Centre 41 (below) falls within its remit but other activities such as Job Club, PlayPeople (baby and toddler group) and adult education (eg. Maths or English GCSE) are included.

Centre 41: This is a group who meet weekly to serve the needs of those who are socially needy. In the building there are social and craft activities whilst young children are cared for in a crèche provided. Many of those who attend have been referred to us by Social Services. We also make provision for social support and educational activities, e.g. Parenting classes, English, Maths and IT education classes. The group also provide support outside of the building on an individual needs basis. Many individuals have been helped with life skills and in practical ways by this group. We also encourage those who attend to become part of the church community and receive further support there.

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Woodside Church

Trustees’ report For the year ended 31 December 2022

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Linking Lives Bedford – Befriending Service : Bedford Linking Lives is the church befrienders service run under Project 41. It it aimed at isolated and lonely members of the Bedford community. Befrienders meet with their clients weekly to break the cycle of loneliness and help to link them with their local community. This service has been funded by a grant from The Harpur Trust.

Connections: This is a weekly group which runs during the day and serves the older generation and others unable to work during the day. It provides social activities as part of a varied programme for the local community.

Open House: This group meets each Friday night to serve the needs of 14-18 year old young people. Whilst it caters for young people within the church community, it is also open to the wider local community, and many young people have been helped in their life experiences, and introduced to the church community through this programme. Each year the young people are invited to a national camp called Newday run by Newfrontiers, and we support those who need it, to go there if necessary.

Children and Young People: In addition to our Sunday children’s work for those who come to the church services, which caters for 0-14 years old children, we run two separate clubs during the week for 7-14 years old children. The focus in these is towards the community outside the church, and we encourage them to bring friends for a fun but safe session. We also support our local schools with Religious Instruction lessons, and assemblies on a Christian theme, providing a well used resource for these schools in this area.

Charitable donations: In accordance with our faith, and our charitable objectives, we will sometimes give gifts to other charitable causes which we would support. In particular, we give money from general funds to Catalyst and Newfrontiers as we are part of that family of churches to help run their administration, and encourage the members to give extra gifts for their annual collection, which is given for many different projects around the world touching the poor and building the worldwide church.

The Building: The building is used for our own meetings, but also for some social functions within the church community. Weddings and Funerals are run according to the Christian faith for church members within our own community. Quiz nights and other social functions, organised by church members, but for the benefit of the wider community.

International Missions: We are actively involved in mission in several parts of the world. Some of the staff occasionally travel abroad to encourage churches and Christian workers. We also support through financial giving projects for the poor and famine relief. This benefits churches and the general public in those places where we have contacts.

• 6 -

Woodside Church

Trustees’ report For the year ended 31 December 2022

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Financial Review

Offerings and donations are the major source of income for the Church, being £449,095 (2021: £430,144) including the gift aid. This represents 96.0% (2021: 99.8%) of total income of £467,946 (2021: £431,123). 15.6% of all income was restricted (2021: 7.9%).

Total expenditure of £579,162 (2021: £480,505) was significantly spent on Outreach and the Church as expected. The net result for the year was a decrease in total funds of £111,216 (2021: decrease of £49,382).

At the year end total unrestricted funds were £656,538 (2021: £756,729) and total restricted funds, both income and capital, were £231,956 (2021: £242,621). A detailed analysis of the year-end asset and liabilities is shown on the Balance Sheet.

Special offerings and designated gifts have continued to be tracked as separate restricted use funds.

During the year the following funds have been in operation:

•	General Fund	-	Unrestricted Fund for the General Running of the Organisation
•	Rushden NLC	-	Fund for the support of the New Life Church in Rushden
•	Project41	-	Restricted Fund for the benefit of the social action activities of
			Cornerstone and Project41
•	Linking Lives Bedford	-	Restricted fund for the church befrienders service run under Project 41
			and funded by a grant from the Harpur Trust
•	Connections	-	Restricted Fund for income received from those who attend our
			Connections group
•	Christmas Offering	-	Specific offering at the Christmas Carol Services given to specific
			different projects each year
•	Playpeople	-	Restricted Fund for income received from subscriptions for those
			who attend Playpeople, our Parents and Toddlers group
•	All Nations Language School	-	Income from a language school being run to teach English to people
			from other language groups who live in Bedford
•	Daniel Martin	-	Gifts collected for Daniel Martin in support of his mission work
•	Albania Support Fund	-	Restricted Fund for gifts to Albanian churches and missions
•	Liberia Support Fund	-	Restricted Fund for gifts to Liberian churches and missions
•	Catalyst offering	-	Restricted fund for support of projects funded by the Catalyst group of
			churches
•	Catalyst Multiply conference	-	Restricted fund for projects leading to a second outreach site
•	Newday Savings fund	-	Restricted fund for the costs of the Church taking young people to
			Newday
•	Future Leadership	-	Restricted fund for use to train prospective leaders
•	Woodside Restricted Asset	-	Restricted capital fund representing the cost of fixed assets funded from
			restricted income

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Woodside Church

Trustees’ report For the year ended 31 December 2022

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A number of additional smaller funds have been in operation and are created when income is received for a particular purpose.

All of these Funds are in a position to fully fulfil any liabilities without any difficulty.

Woodside Church is happy to work in close co-operation with a number of other organisations, including Newfrontiers International and Catalyst, as well as other churches in the area.

Plans for next year

In 2019 a Sunday meeting at a second site, Great Denham Community Hall, began and has seen many people meeting at our third site each week. In 2019 two additional elders were appointed to help support the multisite model. In 2020 the Trustees moved the Trust into an incorporated charity with 6 appointed directors. Having been forced to change the way we meet and care for our community during the COVID-19 pandemic we have learnt new ways of providing connection that we will continue into the next year as we hope to be able to re-open some in person services and groups. In 2022 the Church announced plans to start a third gathering in the south of Bedford. It is hoped this will commence in 2024.

Grant making policy

The Elders will make gifts from time to time from the Trust funds for purposes which they feel are consistent with the Aims and Objectives of the Trust. These are reviewed by the Trustees and are given under their authority.

Reserves Policy

It is the policy of the Trustees to hold available reserves representing three months of General Fund expenditure in order to ensure the activities of the charity can continue in the event of any variation in funding. At 31 December 2022 the free reserves of the charity were £102,141 (2021: £178,510). This is lower than the desired level but the trustees are taking steps to build reserves further. The majority of total reserves are represented by fixed assets which are not included in the reserves policy calculation.

Investment Policy

It is the policy of the Trustees to endeavour to maximise the earning potential of our reserves and surpluses, without compromising our cash flow. However, in order to cover cash flow during the building project, the two Charity Bonds from NatWest were not renewed.

Approved by the Board of Trustees on 17 October 2023 and signed on their behalf by

H Masih Trustee

• 8 -

Independent Examiner’s Report to the Trustees of Woodside Church

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I report to the charity trustees on my examination of the accounts of the company for the year ended 31 December 2022 which are set out on pages 8 to 18.

Responsibilities and basis of report

As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the 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 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 company as required by section 386 of the 2006 Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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.

Louise Tunley FCA CTA DChA

ICAEW, Chartered Accountant

19 Goldington Road Bedford MK40 3JY

Date: 17 October 2023

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Woodside Church

Statement of financial activities (including Income and Expenditure Account) For the year ended 31 December 2022

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||||||||| |---|---|---|---|---|---|---|---| |Unrestricted Restricted|Capital|Total|Total| |Notes|funds|funds|funds|funds|funds| |2022|2022|2022|2022|2021| |£|£|£|£|£| |Income and endowments from:| |Offerings and donations|394,058|55,037|-|449,095|430,144| |Grants|-|18,000|-|18,000|478| |Investment income|351|-|-|351|23| |Other income|500|-|-|500|478| |─────|─────|─────|─────|─────| |Total income|394,909|73,037|-|467,946|431,123| |─────|─────|─────|─────|─────| |Expenditure on:| |Expenditure on charitable activities:| |The Church|492,145|82,820|4,197|579,162|480,505| |─────|─────|─────|─────|─────| |Total expenditure|3|492,145|82,820|4,197|579,162|480,505| |─────|─────|─────|─────|─────| |Net income|(97,236)|(9,783)|(4,197) (111,216)|(49,382)| |Transfers between funds|12|(2,955)|2,955|-|-|-| |─────|─────|─────|─────|─────| |Net movement in funds|(100,191)|(6,828)|(4,197) (111,216) (49,382)| |─────|─────|─────|─────|─────| |Reconciliation of funds:| |Fund balances as at 1 January 2022|756,729|66,479|176,142|999,350 1,048,732| |─────|─────|─────|─────|─────| |Fund balances carried| |forward at 31 December 2022|11,|13, 14|656,538|59,651|171,945|888,134|999,350| |═════|═════|═════|═════|═════|

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The charity’s incoming resources and resources expended all relate to continuing operations.

The charity has no recognised gains or losses other than those included above.

The notes to the financial statements also form part of these financial statements.

• 10 -

Woodside Church

Balance sheet (Company No. 12279065) As at 31 December 2022

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	Notes	2022	2021
		£	£
Fixed assets:
Tangible fixed assets	8	726,342	754,362
		──────	──────
Total fixed assets		726,342	754,362
		──────	──────
Current assets:
Cash at bank and in hand		150,131	201,771
Debtors	9	18,085	57,473
		──────	──────
Total current assets		168,216	259,244
		──────	──────
Liabilities:
Creditors: amounts falling due within one year	10	(6,424)	(14,256)
		──────	──────
Net current assets		161,792	244,988
		──────	──────
Total assets less current liabilities		888,134	999,350
		──────	──────
Net assets		888,134	999,350
		══════	══════
The funds of the charity:
Unrestricted funds	11	656,538	756,729
Restricted funds	13	231,596	242,621
		──────	──────
Total charity funds	14	888,134	999,350
		══════	══════

The notes to the financial statements also form part of these financial statements.

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved and authorised for issue by the Board of Trustees on 17 October 2023 and signed their behalf by

H Masih Trustee

• 11 -

Woodside Church

Notes to the financial statements For the year ended 31 December 2022

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1 Accounting policies

1.1 Accounting convention

The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.

The charity constitutes a public benefit entity as defined by FRS 102.

The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

The Trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern. The key risk to the charity is the potential reduction in income but the level of reserves held is sufficient to mitigate this risk for the foreseeable future and is not considered to cast any doubt over the going concern basis. Despite the Covid-19 pandemic, the charity has continued to operate using other methods within the guidelines of safety as recommended by the Government and the charity’s own risk assessments. Services started to take place virtually in March 2020 and steps were taken throughout the whole of the accounting year to keep the Church’s activities operating as much as possible. The Trustees hope that the impact on the charity’s financial position is minimised as a result. The trustees do not currently believe there is an impact on the charity’s ability to continue as a going concern.

1.2 Fund accounting

• (i) The charity's general fund is available for use by the charity at its discretion.

• (ii) The charity has designated certain reserves to the property fund even though there is no legal force to the designation. The Trustees have decided that setting aside funds in this way is a useful financial discipline, which will help the church make the best use of its resources.

• (iii) The charity's restricted funds are those where the donor has imposed restrictions on the use of the funds which are legally binding.

• (iv) The charity’s restricted capital funds are those raised for the Building Fund. Annual depreciation is charged against the fund. The closing balance represents funds held in the Building Fund restricted fixed asset and equates to the net book value of the associated fixed asset.

1.3 Income

• (i) All voluntary income is included as income on receipt.

• (ii) Restricted income is included in the restricted statement of financial activities account on receipt. (iii) Donations under deeds of covenant and gift aid are recognised as income when the donation is received. The associated tax is accrued in the same period as the donation.

1.4 Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

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Woodside Church

Notes to the financial statements For the year ended 31 December 2022

1.5 Investment income

Interest is accrued on a daily basis and is credited on this basis in the Statement of Financial Activities.

1.6 Allocation of expenditure

Costs are charged directly to advancement of Christian religion and Outreach projects wherever appropriate. 30% of unrestricted staff costs have been allocated to support costs. Liabilities are recognised in the period to which they relate.

1.7 Governance costs

The charity has identified costs of governance as both external costs related to the reporting accountants, legal fees and a proportion of the costs of the administrative staff. These salary costs have been estimated based on time spent on Trustee related activities.

1.8 Fixed assets and depreciation

Fixed assets are included in the financial statements at their historical cost and are written off over their estimated useful lives by depreciation on a straight-line basis through the statement of financial activities at the following rates:

Freehold buildings 2% Music and sound equipment 20% Equipment 33%

1.9 Pensions

Contributions payable to pension schemes are charged to the statement of financial activities in the period to which they relate. Pension costs are allocated between unrestricted and restricted funds according to the nature of funds received to cover the expenditure for each staff member.

1.10 Leases

Rentals payable under operating leases are charged on a straight-line basis over the term of the lease.

1.11 Public Benefit Entity concessionary loans

Public Benefit Entity concessionary loans made and received are initially measured at the amount paid or received and recognised in the balance sheet accordingly. Any accrued interest receivable or payable is then adjusted against the carrying value of the loan in subsequent years.

1.12 Critical accounting judgements and key sources of estimation uncertainty

In the application of the charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

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Woodside Church

Notes to the financial statements For the year ended 31 December 2022

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1.12 Critical accounting judgements and key sources of estimation uncertainty (continued)

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

In the opinion of the Trustees there are no critical accounting judgements or estimation uncertainties within the charity.

2 Comparative Statement of Financial Activities

The Statement of Financial Activities for the year ended 31 December 2021 is presented for illustrative purposes.

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|||||| |---|---|---|---|---| |Unrestricted Restricted|Capital|Total| |funds|funds|funds|funds| |2021|2021|2021|2021| |£|£|£|£| |Income and endowments from:| |Offerings and donations|396,109|34,035|-|430,144| |Grants|478|-|-|478| |Investment income|23|-|-|23| |Other income|478|-|-|478| |─────|─────|─────|─────| |Total income|397,088|34,035|-|431,123| |─────|─────|─────|─────| |Expenditure on:| |Expenditure on charitable activities:| |The Church|420,454|55,854|4,197|480,505| |─────|─────|─────|─────| |Total expenditure|420,454|55,854|4,197|480,505| |─────|─────|─────|─────| |Net income|(23,366)|(21,819)|(4,197)|(49,382)| |Transfers between funds|(6,404)|6,404|-|-| |─────|─────|─────|─────| |Net movement in funds|(29,770)|(15,415)|(4,197)|(49,382)| |─────|─────|─────|─────| |Reconciliation of funds:| |Fund balances as at 1 January 2021|786,499|81,894|180,339 1,048,732| |─────|─────|─────|─────| |Fund balances carried| |forward at 31 December 2021|756,729|66,479|176,142|999,350| |═════|═════|═════|═════|

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Woodside Church

Notes to the financial statements For the year ended 31 December 2022

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3 Analysis of expenditure on charitable activities

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|||||||| |---|---|---|---|---|---|---| |2022|Staff|OtherDepreciation|Other|2022| |Costs|staff costs|Costs|Total| |£|£|£|£|£| |The Church:| |Advancement of Christian religion|215,384|20,245|31,433|89,757|356,820| |Training|-|-|-|1,502 1,502| |Outreach:| |-|General outreach|-|-|-|5,042|5,042| |-|Project 41|17,863|-|-|3,388|21,251| |-|Mission support|-|-|-|60,653|60,653| |Support costs|107,192|10,123|-|10,769|128,084| |Governance costs|500|-|-|5,310|5,810| |─────|─────|─────|─────|─────| |340,940|30,368|31,433|176,421 579,162| |═════|═════|═════|═════|═════| |2021|Staff|OtherDepreciation|Other|2021| |Costs|staff costs|Costs|Total| |£|£|£|£|£| |The Church:| |Advancement of Christian religion|195,472|4,677|32,143|75,906|308,198| |Outreach:| |-|General outreach|-|-|-|2,532|2,532| |-|Project 41|14,475|-|-|6,275|20,750| |-|Mission support|-|-|-|30,952|30,952| |Support costs|97,236|2,339|-|12,688|112,263| |Governance costs|500|-|-|5,310|5,810| |─────|─────|─────|─────|─────| |307,683|7,016|32,143|133,663|480,505| |═════|═════|═════|═════|═════|

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In the opinion of the Trustees, the charity has only one activity which is the running of the Church.

Of the above expenditure, £82,820 is restricted in nature (2021: £55,854). A further £4,197 of expenditure in the form of depreciation is restricted in nature relating to the capital fund (2021: £4,197).

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Woodside Church

Notes to the financial statements For the year ended 31 December 2022

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4 Allocation of governance and support costs

The breakdown of support costs and how these were allocated between governance and other support costs is shown below.

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |Support Governance|2022|2021|Basis of| |costs|costs|Total|Total|apportionment| |£|£|£| |Staff costs|107,192|500|107,692|97,736|Time spent| |Other staff costs|10,123|-|10,123|2,339|Time spent| |Bank charges|1,395|-|1,395|984|Invoiced cost| |Professional fees|9,374|1,350|10,724|13,054|Invoiced cost| |Auditors remuneration for|-|3,960|3,960|3,960|Governance| |audit services| |─────|─────|─────|─────| |128,084|5,810|133,894|118,073| |═════|═════|═════|═════|

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Governance costs for the period ended 31 December 2021 were equal to those outlined above for the year ended 31 December 2022.

5 Staff costs and numbers

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|||| |---|---|---| |2022|2021| |£|£| |Staff costs|:| |Wages and salaries|314,042|278,154| |Social security costs|18,429|16,081| |Pensions|20,331|19,854| |──────|──────| |352,802|314,089| |══════|══════| |2022|2021| |Number|Number| |Staff numbers by function:| |The Church|8| |Evangelism|4| |Administration|8| |──────|──────| |20|18| |══════|══════|

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No employee received remuneration of more than £60,000 (2021: none).

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Woodside Church

Notes to the financial statements For the year ended 31 December 2022

6 Trustees

The Trustees are considered to be the key management personnel of the charity. The Trustees received no remuneration nor any reimbursed expenses during the year (2021: none).

7 Taxation

The Charity is a registered charity and exempt from Corporation Tax.

8 Tangible fixed assets

Tangible fixed assets
	Freehold	Music and
	land and	sound
	buildings	equipment	Equipment	Total
	£	£	£	£
Cost
At 1 January 2022	1,098,196	87,825	29,786	1,215,807
Additions	-	239	3,174	3,413
	──────	──────	──────	──────
At 31 December 2022	1,098,196	88,064	32,960	1,219,220
	──────	──────	──────	──────
Accumulated depreciation
At 1 January 2022	362,353	72,242	26,850	461,445
Charge for the year	21,964	7,501	1,968	31,433
	──────	──────	──────	──────
At 31 December 2022	384,317	79,743	28,818	492,878
	──────	──────	──────	──────
Net book values
At 31 December 2022	713,879	8,321	4,142	726,342
	══════	══════	══════	══════
At 31 December 2021	735,843	15,582	2,936	754,362
	══════	══════	══════	══════

The net book value represents fixed assets used for direct charitable purposes.

9 Debtors

Debtors
	2022	2021
	£	£
Tax recoverable	12,782	43,138
Accrued income	-	8,649
Prepayments and other debtors	5,303	5,686
	──────	──────
	18,085	57,473
	══════	══════

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Woodside Church

Notes to the financial statements For the year ended 31 December 2022

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10 Creditors: amounts falling due within one year

	2022	2021
	£	£
Trade creditors	-	4,874
Accruals	3,732	6,376
Other creditors	2,692	3,006
	──────	──────
	6,424	14,256
	══════	══════
Analysis of Deferred Income
	2022	2021
	£	£
At 1 January 2022	-	-
Received during the year	-	-
Released to incoming resources	-	-
	─────	─────
At 31 December 2022	-	-
	═════	═════

The deferred income balance relates to income received in the year relating to the following period.

11 Unrestricted funds

Unrestricted funds
	Balance at			Transfers	Balance at
	1 Jan	Movement in year		between	31 Dec
	2022	Incoming	Outgoing	funds	2022
	£	£	£	£	£
Property	559,698	-	(17,767)	-	541,931
General fund	197,031	394,909	(474,378)	(2,955)	114,607
	──────	──────	──────	──────	──────
	756,729	394,909	(492,145)	(2,955)	656,538
	══════	══════	══════	══════	══════

12 Transfers between funds

A transfer of £2,955 was made from the general fund to restricted funds to cover the unrestricted element of the Project 41 fund. Various other transfers were made between individual restricted funds to allocate balances to the fund from which the related activity has been funded.

13 Restricted funds

A detailed description of the purpose of each of these funds is included in the Trustees’ Report. The funds in deficit will be reimbursed during 2023 as future funding is being sought to cover the surplus of expenditure over income.

• 18 -

Woodside Church

Notes to the financial statements For the year ended 31 December 2022

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13 Restricted funds (continued)

Restricted funds (continued)
	Balance at			Transfers	Balance at
	1 Jan	Movement in year		between	31 Dec
	2022	Incoming	Outgoing	funds	2022
	£	£	£	£	£
Income Funds:
Project 41
Project 41 general fund	2,947	828	(952)	2,955	5,778
T&K May	1,372	-	(89)	-	1,283
Outreach support fund	1,209	-	-	-	1,209
Outreach community relief	(602)	-	(140)	602	(140)
Centre 41	-	-	(200)	-	(200)
Opus 18	1,050	-	(16)	-	1,034
Grants	(8,267)	18,300	(15,672)	-	(5,639)
Craft Café	7	-	-	-	7
Play People	886	1,840	(3,423)	-	(697)
Connections	1,323	993	(799)	-	1,517
All Nations Language School	211	-	-	-	211
Missions, reliefs and sponsorships
Daniel Martin	6,815	6,298	(7,969)	-	5,144
David Devenish	3,859	-	(22,423)	-	(18,564)
Andrey Bondarenko	-	25,372	(13,595)	-	11,777
Liberia support fund	900	-	(463)	-	437
Albania	105	1,875	(881)	-	1,099
Specific gifts – Missions	2,308	-	-	(2,308)	-
India support fund	3	-	-	-	3
Child sponsorship	(5)	3,234	(3,609)	-	(380)
Lighthouse	97	-	(237)	-	(140)
Other gifts and offerings
Rushden NLC	41,025	-	-	-	41,025
Woodside West	1,754	-	-	-	1,754
Community relief	10,978	-	(2,241)	(852)	7,885
Christmas offering fund	181	144	-	-	325
Catalyst offering fund	2,160	-	-	(2,160)	-
Other offerings	-	-	(144)	-	(144)
Sundays, events and training
Catalyst Festival	426	-	-	179	605
Catalyst Multiply conference	222	-	(500)	-	(278)
Catalyst HUB	(6,452)	4,502	(2,438)	2,308	(2,080)
Excite	56	-	-	-	56
Newday fund	1,889	8,925	(6,118)	250	4,946
Gifts for individuals	22	-	-	-	22
Training	-	726	(911)	1,981	1,796
	──────	──────	──────	──────	──────
	66,479	73,037	(82,820)	2,955	59,651
Restricted Asset Capital Fund	176,142	-	(4,197)	-	171,945
	──────	──────	──────	──────	──────
	242,621	73,037	(87,017)	2,955	231,956
	══════	══════	══════	══════	══════

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Woodside Church

Notes to the financial statements For the year ended 31 December 2022

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14 Analysis of net assets between funds

	Tangible fixed				Total
	assets	Debtors	Cash	Creditors	2022
	£	£	£	£	£
Unrestricted funds
Property	541,931	-	-	-	541,931
General fund	12,466	18,085	90,480	(6,424)	114,607
Restricted funds
Project 41
Project 41 general fund	-	-	5,778	-	5,778
T&K May	-	-	1,283	-	1,283
Outreach support fund	-	-	1,209	-	1,209
Outreach community relief	-	-	(140)	-	(140)
Centre 41	-	-	(200)	-	(200)
Opus 18	-	-	1,034	-	1,034
Grants	-	-	(5,639)	-	(5,639)
Craft Café	-	-	7	-	7
Play People	-	-	(697)	-	(697)
Connections	-	-	1,517	-	1,517
All Nations Language School	-	-	211	-	211
Mission, reliefs and sponsorships
Daniel Martin	-	-	5,144	-	5,144
David Devenish	-	-	(18,564)	-	(18,564)
Andrey Bondarenko	-	-	11,777	-	11,777
Liberia support fund	-	-	437	-	437
Albania fund	-	-	1,099	-	1,099
India support fund	-	-	3	-	3
Child sponsorship	-	-	(380)	-	(380)
Lighthouse	-	-	(140)	-	(140)
Other gifts and offerings
Rushden NLC	-	-	41,025	-	41,025
Woodside West	-	-	1,754	-	1,754
Community relief	-	-	7,885	-	7,885
Christmas offering	-	-	325	-	325
Other offerings fund	-	-	(144)	-	(144)
Sundays, events and training
Catalyst HUB	-	-	(2,080)	-	(2,080)
Catalyst Multiply conference	-	-	(278)	-	(278)
Catalyst Festival	-	-	605	-	605
Excite	-	-	56	-	56
Newday fund	-	-	4,946	-	4,946
Gifts for individuals	-	-	22	-	22
Training	-	-	1,796	-	1,796
Woodside Restricted Asset Fund	171,945	-	-	-	171,945
	──────	──────	──────	──────	─────
	726,342	18,085	150,131	(6,424)	888,134
	══════	══════	══════	══════	═════

• 20 -

Woodside Church

Notes to the financial statements For the year ended 31 December 2022

---

15 Pension costs

During the year pension contributions of £20,331 (2021: £19,854) were paid on behalf of 14 (2021: 12) employees to a defined contribution pension scheme administered independently of the charity by Scottish Widows. Pension costs of £2,692 were outstanding at the end of the year (2021: £3,006) and are included in other creditors.

16 Financial commitments

At 31 December 2022 the charity had total outstanding commitments for future minimum lease payments under non-cancellable operating leases as follows:

under non-cancellable operating leases as follows:
	2022	2021
	£	£
Other leases:
Within one year	-	313
Between 2 and 5 years	-	-
In over 5 years	-	-
	─────	─────
Total future minimum lease payments	-	313
	═════	═════
There are no capital commitments (2021: £nil).

17 Related party transactions

Donations from trustees during the year amounted to £34,984 (2021: £36,338). There were no other related party transactions during the year.

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