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2023-03-31-accounts

The Charity Registration Number is :- 1188521

Festival Church

Report and Accounts

31 March 2023

Festival Church

Report and accounts for the year ended 31 March 2023

Contents

Page
Charity information 1
Trustees' Annual Report 1
Statement of directors' responsibilities 5
Independent Examiner's Report 6
Funds Statements:-
Statement of Financial Activities 8
Movements in funds 9
Income and Expenditure account 10
Balance sheet 11
Notes to the accounts 12

Festival Church

Trustees' Annual Report for the year ended 31 March 2023

The Trustees present their Report and Accounts for the year ended 31 March 2023.

Reference and administrative details

The charity name.

The legal name of the charity is:- Festival Church.

The charity is also known by its operating name, Festival Church.

The charity's areas operation and UK charitable registration.

The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1188521.

The charity does not operate in any overseas jurisdictions.

Legal structure of the charity

The charity is constituted as a Charitable Incorporated Organisation (CIO) in England & Wales. The governing document of the charity is the constitution of the CIO as approved by the Charity Commission in England & Wales (CCEW) .

The governing document is dated 12 March 2020

There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law. The trustees are all individuals.

The principal operating address, telephone number, email and web addresses of the charity are:-

Queen Street Chester, CH1 3LG Telephone 01244321193

Email Address admin@festival.church Web address www.festival.church

The Trustees in office on the date the report was approved were:-

Timothy James Rowlands Robert David Morris Stewart Samuel John Rowlands Luke Edward Fraser Gratton Philip John Pierce Michael Leonard Meynell

The following persons served as Trustees during the year ended 31 March 2023 :-

The trustees who served as a trustee in the reporting period were as shown above, and there were no changes during the year, or in the period between the year end and the approval of the accounts.

All the trustees are also members of the charity.

1

Festival Church

Trustees' Annual Report for the year ended 31 March 2023

Objects and activities of the charity

The purposes of the charity as set out in its governing document.

  1. To advance the Christian faith in accordance with the Statement in such ways and in such parts of the United Kingdom or the world as the Church Council from time to time may think fit;

  2. To relieve sickness and financial hardship and to promote and preserve good health by the provision of funds, good or services of any kind including the provision of counselling and support in such parts of the United Kingdom or the world as the Church Council from time to time think fit;

  3. To advance education in such ways and in such parts of the United Kingdom or the world as the Church Council from time to time may think fit.

The main activities undertaken in relation to those purposes during the year.

Weekly Sunday Services. Regular Prayer Meetings. Regular activities for Children and Youth for them to advance in their faith. Small Groups to facilitate community and pastoral care. Extension services in care homes.

We have facilitated Warm Hubs and community groups. There are various activities to assist people: Toddlers Groups, Friendship groups and craft clubs. We have work with our local foodbanks, Food Shares as well as debt counselling services and projects that encourage people to volunteer and be a part of the community.

We assist our local schools. One of our congregations has a nursery in the church building. We support a nursery program in rural Zambia. We have also supported many projects locally, nationally and internationally.

The trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity.

The main achievements and performance of the charity during the year.

The year 2022-23 we were able to transfer assets from 4 different charities to consolidate everything into one Charity – Festival Church CIO. We have been a family of church that work together, and this was done to strengthen us moving into the future.

We have seen several people join our Churches and the regular meeting together and encouragement of people to flourish in their faith remains a highlight.

We have seen a “return to normal” after the pandemic years and this has been good to see after a long time of many people struggling in their physical and mental health

2

Festival Church

Trustees' Annual Report for the year ended 31 March 2023

Structure, governance and management of the charity

The methods used to recruit and appoint new charity trustees.

New Charity Trustees are suggested by their local Lead Pastors to the Senior Pastor. The individuals are those who hold an understanding of good governance and the many times the professional background that could serve the organisation. Upon the name of an individual being suggested and discussion at the trustees meeting, this individual is then spoken to and asked to consider the role.

The individual will attend a Trustees meeting only as an observer to see if they still feel this is something they would like to be a part of.

Thereafter they need to do all the paperwork associated to the role:

The charity's organisational structure.

----- Start of picture text -----
Senior Pastor
Trustees
Shared Resource
Lead Pastors
Team
Operations Chester
Manager
Pathways
Derby
Manager
Finance
Llandrindod
Administrator
Prestatyn
Towyn
----- End of picture text -----

How the charity makes decisions and how decisions are delegated.

Major Governance and budget decisions are made by the Senior Pastor and Board of Trustees. Local congregation decisions are made by the Lead Pastor in each congregation, keeping the Senior Pastor informed.

The day-to-day operations of each congregation is handled by each location’s Lead Pastor. There are several staff that assist each of those congregations eg. the Missions co-ordinator, Operations Manager and Finance Assistant.

Setting pay and remuneration of key management personnel

This is decided by the trustees who do not have a prejudicial interest in the outcome. They meet and discuss appropriate financial remuneration as well the annual pay increases.

3

Festival Church

Trustees' Annual Report for the year ended 31 March 2023

The charity's relationships with related parties.

Timothy Rowlands received a salary for his role as Senior Pastor.

Emily Rowlands (married to Tim Rowlands) is employed as the Pathways Manager and is paid for that role.

Bankers

The Co-operative bank, PO Box 150, Delf House, Skelmersdale, WN8 6GG

Kingdom Bank, Ruddington Fields Bussiness Park, Mere Way, Ruddington, Nottingham, NG11 6JS

Accountants

KBH Accountants Ltd, 255 Poulton Road, Wallasey, CH44 4BT

Financial review

The charity's financial position at the end of the year ended 31 March 2023

The financial position of the charity at 31 March 2023 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-

Total Funds
Unrestricted Revenue Funds available for the
general purposes of the charity
Net income		 2023
£
1,219,248
1,228,115
1,228,115		 2022
£
8,867
8,867
8,867

Financial review of the position at the reporting date, 31 March 2023 .

The trustees consider the financial performance by the charity during the year to have been satisfactory.

Policies on reserves.

It is Festival Church policy to maintain a balance on unrestricted funds which equates to approximately two months' unrestricted payments in addition to £20,000 to cover emergency situations which may arise from time to time.

Availability and adequacy of assets of each of the funds

The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund.

Details of The Independent Examiner

Member of Chartered Certified Accountants

255 Poulton Road Wallasey Merseyside CH44 4BT

4

Festival Church

Trustees' Annual Report for the year ended 31 March 2023

Statement of Trustees' Responsibilities

The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), .

In particular, charity law requires the Trustees, if they prepare accounts on an accruals basis, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Trustees are required to :-

The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.

The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with regulations made under the Charities Act 2011. 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.

The Trustees are also responsible for the contents of the Trustees' report, and the statutory responsibility of the Independent Examiner in relation to the Trustees' report is limited to examining the report and ensuring that , on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements.

This report was approved by the board of trustees on 17 July 2024.

Timothy Rowlands Trustee

5

Festival Church

Report of the Independent Examiner to the Trustees of the charity on the accounts for the year ended 31 March 2023

I report to the Trustees on my examination of the financial statements of the charity on pages 8 to 25 for the year ended 31 March 2023 which have been prepared in accordance with the Charities Act 2011 (the Act) and with the Financial Reporting Standard 102, (effective 1st January 2016) as modified by FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , and under the historical cost convention and the accounting policies set out on page 12.

Respective responsibilities of the Trustees and the Independent Examiner and the basis of the report

As described on page 5, you, the charity's Trustees, are responsible for the preparation of the financial statements in accordance with the Charities Act 2011 and all other applicable law and with United Kingdom Generally Accepted Accounting Practice, applicable to smaller entities, and for being satisfied that the financial statements give a true and fair view.

The Trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the Governing Document for the conducting of an audit. As a consequence, the Trustees have elected that the financial statements be subject to independent examination.

Having satisfied myself that the financial statements are not required to be audited under any legal provision, or otherwise, and are eligible for independent examination, it is my responsibility to:-

a) examine the financial statements of the charity under Section 145 of the Act;

b) follow the applicable procedures in the Directions given by the Charity Commission under section 145(5)(b) of the Act.

Basis of Independent Examiner's Statement and scope of work undertaken

Since the charity's gross income exceeded £250,000, the charity's examiner must be a member of a body listed in section 145 of the Act. I confirm that I am qualified to undertake the examination because I am an authorised member of Chartered Certified Accountants , which is one of the listed bodies.

I report in respect of my examination of the charity's financial statements carried out under s145 of the Act. In carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act setting out the duties of an independent examiner in relation to the conducting of an independent examination. An independent examination includes a review of the accounting records kept by the charity and of the accounting systems employed by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you, as Trustees, concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of charity legislation and that, on a test basis of evidence relevant to the amounts and disclosures made, the financial statements comply with the SORP.

The procedures undertaken do not provide all the evidence that would be required in an audit, and information supplied by the Trustees in the course of the examination is not subjected to audit tests or enquiries and does not cover all the matters that an auditor would consider in arriving at an opinion. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide

Consequently, I do not express an audit opinion on the view given by the financial statements, and in particular, I express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below.

I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report I obtained written assurances from the Trustees of all material matters.

Independent Examiner's Statement, Report and Opinion

Subject to the limitations upon the scope of my work as detailed above, I have completed my examination: and can confirm that:-

6

Festival Church

The gross income of the charity in the year ended 31 March 2023 appears to exceed the sum specified in Section 145(3) of the Act, namely £250000, and that I am qualified to act as Independent Examiner in accordance with that section by virtue of my being a qualified member of Chartered Certified Accountants ;

This is a report in respect of an examination carried out under 145 of the Act and in accordance with Directions given by the Charity Commission under section 145(5)(b) of the Act which may be applicable;

and that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:-

accounting records were not kept in respect of the charity as required by with Section 130 of The Charities Act 2011;

the financial statements do not accord with those records; or

the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view, which is not a matter considered as part of an independent examination;

have not been prepared in accordance with the methods and principles set out in the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP).

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 financial statements to be reached.

Signed:-

Olivia Higgins

Chartered Certified Accountants

255 Poulton Road Wallasey Merseyside CH44 4BT

This report was signed on _______ 2024

7

Festival Church - Statement of Financial Activities for the year ended 31 March 2023

Statement of Financial Activities for the year ended 31 March 2023

Current year
Unrestricted
Funds
2023
£
Income & Endowments from:
Donations & Legacies
A1
1,643,780
Charitable activities
A2
28,490
Other trading activities
A3
1,057
Investments
A4
83
Total income
A
1,673,410
Expenditure on:
Charitable activities
B2
454,162
Total expenditure
B
454,162
Net income for the year
1,219,248
Net income after transfers
A-B-C
1,219,248
1,219,248
Reconciliation of funds:-
E
Total funds brought forward
8,867
Total funds carried forward
1,228,115
SORP
Ref
Net movement in funds		 Current year
Restricted
Funds
2023
£
-
-
-
-
-
-
-
-
-
-
-
-		 Current year
Total Funds
2023
£
1,643,780
28,490
1,057
83
1,673,410
454,162
454,162
1,219,248
1,219,248
1,219,248
8,867
1,228,115		 Prior Year
Total Funds
2022
£
15,210
-
-
-
15,210
6,343
6,343
8,867
8,867
8,867
-
8,867

The 'SORP Ref' indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet.

A Statement of Total Recognised Gains and Losses is included as a primary statement in these accounts.

All the prior year transactions were unrestricted items, and no further analysis is required All activities derive from continuing operations

The notes attached on pages 12 to 25 form an integral part of these accounts.

All activities derive from continuing operations

The notes attached on pages 12 to 25 form an integral part of these accounts.

8

Festival Church - Statement of Financial Activities for the year ended 31 March 2023

Festival Church - Resources applied in the year ended 31 March 2023 towards fixed assets for Charity use:-

Funds generated in the year as detailed in the SOFA
Resources applied on functional fixed assets
Other applications of funds
Net resources available to fund charitable activities		 2023
£
1,219,248
(1,315,268)
-
(96,020)		 2022
£
8,867
(4,152)
-
4,715

The resources applied on fixed assets for charity use represents the cost of additions less proceeds of any disposals.

The notes attached on pages 12 to 25 form an integral part of these accounts.

Movements in revenue and capital funds for the year ended 31 March 2023

Revenue accumulated funds

Unrestricted
Funds
2023
£
Accumulated funds brought forward
8,867
1,219,248
1,228,115
Closing revenue funds
1,228,115
Summary of funds
Unrestricted
and
Designated funds
2023
£
Revenue accumulated funds
1,228,115
Recognised gains and losses before
transfers		 Restricted
Funds
2023
£
-
-
-
-
Restricted
Funds
2023
£
-		 Total
Funds
2023
£
8,867
1,219,248
1,228,115
1,228,115
Total
Funds
2023
£
1,228,115		 Last year
Total Funds
2022
£
-
8,867
8,867
8,867
Last Year
Total Funds
2022
£
8,867

The notes attached on pages 12 to 25 form an integral part of these accounts.

9

Festival Church - Statement of Financial Activities for the year ended 31 March 2023

Festival Church

Income and Expenditure Account for the year ended 31 March 2023 as required by the Companies Act 2006

Income
Income from operations
Interest receivable
Gross income in the year before exceptional items
Gross income in the year including exceptional items
Expenditure
Charitable expenditure, excluding depreciation and amortisation
Depreciation and amortisation
Interest payable
Realised losses on disposals of social investments which are programme related
Total expenditure in the year
Tax on surplus on ordinary activities
Retained surplus for the financial year
All activities derive from continuing operations
Net income after tax in the financial year
Net income before tax in the financial year
Investment income and interest		 2023
£
620,723
83
689,653
689,653
438,134
1,105
14,923
-
454,162
235,491
-
235,491
235,491		 2022
£
15,210
-
15,210
15,210
6,343
-
-
-
6,343
8,867
-
8,867
8,867

In accordance with the provisions of the Companies Act 2006, the headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities.

The notes attached on pages 12 to 25 form an integral part of these accounts.

10

Festival Church - Balance Sheet as at 31 March 2023

SORP
Note Ref 2023 2022
£ £
Fixed assets A
Tangible assets 11 A2 1,318,315 4,152
Current assets B
Cash at bank and in hand B4 239,225 8,867
Creditors: amounts falling due within
one year 12 C1 (2,920) (4,152)
Net current assets 236,305 4,715
Net assets 1,554,620 8,867
Creditors: amounts falling due after more
than one year 13 C2 (326,505) -
The total net assets of the charity 1,228,115 8,867
The total net assets of the charity are funded by the funds of the charity, as follows:-
Restricted funds
Unrestricted Funds - -
Unrestricted Revenue Funds 17 D3 1,228,115 8,867
Designated Funds 1,228,115 8,867
Total charity funds 1,228,115 8,867

The 'SORP Ref' indicated above is the classification of Balance Sheet items as set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the SOFA..

The Trustees acknowledge their responsibilities for complying with the requirements of charity legislation with respect to accounting records and the preparation of accounts.

The charity is subject to Independent Examination under charity legislation, and the report of the Independent Examiner is on page 7.

The Trustees are satisfied that, although the charity is not registered under the Companies Acts, if it were so registered, it would be eligible to prepare accounts in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.

Timothy Rowlands

Trustee

Approved by the board of trustees on 17 July 2024

The notes attached on pages 12 to 25 form an integral part of these accounts.

11

Festival Church

Notes to the Accounts for the year ended 31 March 2023

1 Accounting policies

Policies relating to the production of the accounts.

Basis of preparation and accounting convention

The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice.

Going Concern

The charitable activities are entirely dependent on continuing grant aid and voluntary donations as well as trading revenues. As a consequence, the going concern basis is dependent on the future flow of these uncertain funding streams. Accordingly, the Trustees have obtained forecasts and, after reviewing the financial forecasts for future periods to 31 March 2023, the Trustees are satisfied that, at the time of approving the financial statements, it is appropriate to adopt the going concern basis in preparing the financial statements. Other than these matters, the Trustees are not aware of any material uncertainites about the charity's ability to continue as a going concern.

Risks and future assumptions

The charity is a public benefit entity.

Policies relating to categories of income and income recognition.

Nature of income

Gross income represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Categories of Income

Income is categorised as income from exchange transactions (contract income) and income from non-exchange transactions (gifts), investment income and other income.

Income from exchange transactions is received by the charity for goods or services supplied under contract or where entitlement is subject to fulfilling performance related conditions. The income the charity receives is approximately equal in value to the goods or services supplied by the charity to the purchaser.

Income from a non-exchange transaction is where the charity receives value from the donor without providing equal value in exchange, and includes donations of money, goods and services freely given without giving equal value in exchange.

Income recognition

Income, whether from exchange or non exchange transactions, is recognised in the statement of financial activities (SOFA) on a receivable basis, when a transaction or other event results in an increase in the charity’s assets or a reduction in its liabilities and only when the charity has legal entitlement, the income is probable and can be measured reliably.

Dividends are accrued when the shareholder’s right to receive payment is established.

Income subject to terms and conditions which must be met before the charity is entitled to the resources is not recognised until the conditions have been met.

All income is accounted for gross, before deducting any related fees or costs.

12

Festival Church

Notes to the Accounts for the year ended 31 March 2023

Donated goods, facilities and services

Donated fixed assets are recognised at the current fair value. All such donations are recognised as donation income, and debited to fixed assets.

Donated goods that are not fixed assets are accounted for at a fair value, unless it is impractical to reliably measure the value of the donated items.

In the absence of any direct evidence of fair value of donated goods, then a value is derived from the cost of the item to the donor or, in the case of goods that are expected to be sold, the estimated resale value after deducting any anticipated costs of sales.

If it is impracticable to measure the fair value of goods donated for resale, or the costs of valuation outweigh the benefits, the donated goods are recognised as income when sold, with an equivalent amount being recognised as an expense.

The costs of goods donated for distribution to beneficiaries is deemed to be the fair value of those goods upon receipt. When the goods are distributed freely or for a nominal consideration, then the carrying amount is adjusted at the time of sale, to the value at the point of distribution and the adjustment is shown as a cost of donations made.

The carrying amount of any stock held for distribution is assessed for impairment at the reporting date. All donated goods are recognised as donation income, and debited to trading stock.When trading stock is subsequently sold, or appropriated to meet an expense, then the carrying value of the stock is recognised as an expense. In accordance with the SORP, goods donated for distribution to beneficiaries, or for consumption by the charity are included in 'legacies and donations '. Goods donated for resale are included in 'Income from other trading activities'

The cost of any stock of goods donated for distribution to beneficiaries is deemed to be the fair value of those gifts at the time of their receipt. If the goods held are to be distributed freely or for a nominal consideration, then the carrying amount is subsequently adjusted to reflect the lower of deemed cost adjusted for any loss of service potential and replacement cost. Replacement cost is the economic cost incurred if the charity was to replace the service potential of the donated goods at its own expense in the most economic manner.

Donated services and facilities (including seconded staff and use of property) are included in the accounts on the basis of the value of the gift to the charity.

All donated services and facilities are recognised as donation income when received,(provided the value of the gift can be measured reliably) and recognised as an expense with an equivalent value.

Policies relating to expenditure on goods and services provided to the charity.

Volunteers

In accordance with the SORP, and in recognition of the difficulties in placing a monetary value on the contribution from volunteers, the contribution of volunteers is not included within the income of the charity.

However, the trustees value the significant contribution made to the activities of the charity by unpaid volunteers and this is described more fully in Note7.

Policies relating to assets, liabilities and provisions and other matters.

Debtors

Debtors are measured at their recoverable amounts at the balance sheet date.

Creditors and provisions

If this applies , enter suitable text to comply with SORP 10.81. Describe the basis on which creditors and provisions for liabilities and charges are recognised and measured

Pensions - defined contribution schemes

The charity operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

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Festival Church

Notes to the Accounts for the year ended 31 March 2023 Fund Accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

There are no endowment funds.

2 Liability to taxation

The Trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively on the specific charitable objects of the charity and for no other purpose. Value Added Tax is not recoverable by the charity, and is therefore included in the relevant costs in the Statement of Financial Activities.

3 Winding up or dissolution of the charity

If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.

4 Significance of financial instruments to the charity's position

There are no significant implications of such matters.

5 Net surplus before tax in the financial year

The net surplus before tax in the financial year is stated after charging:-
Depreciation of owned fixed assets
6
Interest payable
Loan interest		 2023
£
1,105
2023
£
14,923		 2022
£
-
2022
£
-

14

Festival Church

Notes to the Accounts for the year ended 31 March 2023

7 The contribution of volunteers

We depend heavily on the support of volunteers. Almost every event and activity we have undertaken has been carried out either entirely by them or with their help. Over 200 volunteers committed countless hours to our activities during the year. Their support is valued enormously. The arrangements with volunteers are difficult to value in monetary terms and have not been recognised in the Statement of Financial Activities. The volunteers and the charity accept and agree that no contract of employment is created by these arrangements.

8 Staff costs and emoluments

Salary costs
2023
£
Gross Salaries excluding trustees and key management personnel
269,457
Total salaries, wages and related costs
269,457
The average number of part time staff employed in the year was
10
The average number of full time staff employed in the year was
3
The estimated full time equivalent number of all staff employed in the year was
13
The estimated equivalent number of full time staff deployed in different activities in the year was:-
Engaged on charitable activities
13
The estimated full time equivalent number of all staff employed as above
13		 2022
£
-
-
-
-
-
-
-

Neither the trustees nor any persons connected with them have received any remuneration from the charity or any related entity, either in the current or prior year.

The number of employees whose emoluments including taxable benefits but excluding

employer's pension contributions fall into the following bands were :-

9 Defined contribution pension schemes

The charity operates a defined contribution pension scheme, the costs of which are shown above.

Any liabilites and assets associated with the scheme are shown under debtors and creditors.

10 Remuneration and payments to Trustees and persons connected with them

Timothy Rowlands received remuniration during the year. He was paid for the role as Senior Pastor. Emily Rowlands is employed as the Pathways Manager and is paid for that role.

15

Festival Church

Notes to the Accounts for the year ended 31 March 2023

11 Tangible fixed assets

Current Year
Cost
At 1 April 2022
Additions
At 31 March 2023
Depreciation
Charge for the year
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022
Prior Year
Cost
01 April 2021
Additions
31 March 2022
Depreciation
Net book value
12 Creditors: amounts falling due within one year
Other creditors
13 Creditors: amounts falling due after one year
Bank loans and overdrafts		 Land and
Buildings
£
-
1,315,000
1,315,000
-
-
1,315,000
-
Land and
Buildings
£
-
-
-		 Plant &
Machinery
£
4,152
268
4,420
1,105
1,105
3,315
4,152
Plant &
Machinery
£
-
4,152
4,152
4,152		 Motor
Vehicles
£
-
-
-
-
-
-
-
Motor
Vehicles
£
-
-
-
2023
£
2,920
2023
£
326,505		 Total
£
4,152
1,315,268
1,319,420
1,105
1,105
1,318,315
4,152
Total
£
-
4,152
4,152
2022
£
4,152
2022
£
-

16

Festival Church

Notes to the Accounts for the year ended 31 March 2023

14 Income and Expenditure account summary

Income and Expenditure account summary
At 1 April 2022
Surplus after tax for the year
At 31 March 2023		 2023
£
8,867
235,491
244,358		 2022
£
-
8,867
8,867

15 No related party transactions

There were no transactions with related parties in the year , except with regard to trustees' remuneration, trustees' expenses

16 Particulars of how particular funds are represented by assets and liabilities

At 31 March 2023
Tangible Fixed Assets
Current Assets
Current Liabilities
Long Term Liabilities
At 1 April 2022
Tangible Fixed Assets
Current Assets
Current Liabilities		 Unrestricted
funds
£
1,318,315
239,225
(2,920)
(326,505)
1,228,115
Unrestricted
funds
£
4,152
8,867
(4,152)
8,867		 Designated
funds
£
-
-
-
-
Designated
funds
£
-
-
-
-		 Restricted
funds
£
-
-
-
-
-
Restricted
funds
£
-
-
-
-		 Total
Funds
£
1,318,315
239,225
(2,920)
(326,505)
1,228,115
Total
Funds
£
4,152
8,867
(4,152)
8,867

17 Change in total funds over the year as shown in Note 16 , analysed by individual funds

Unrestricted and designated funds:-
Unrestricted Revenue Funds
Total unrestricted and designated funds
Total charity funds		 Funds brought
forward from
2022
£
8,867
8,867
8,867		 Movement in
funds in 2023
See Note 18
£
1,219,248
1,219,248
1,219,248		 £
-
-
-
Transfers
between
funds in 2023		 Funds carried
forward to
2024
£
1,228,115
1,228,115
1,228,115

17

Festival Church

Notes to the Accounts for the year ended 31 March 2023

18 Analysis of movements in funds over the year as shown in Note 17

Unrestricted and designated funds:-
Unrestricted Revenue Funds		 Income
2023
£
1,673,410
1,673,410		 Expenditure
2023
£
(454,162)
(454,162)		 Other
Gains &
Losses
2023
£
-
-		 Movement
in funds
2023
£
1,219,248
1,219,248

19 The purposes for which the funds as

Unrestricted and designated funds:-

Unrestricted Revenue Funds

These funds are held for the meeting the objectives of the charity, and to provide reserves for future activities, and , subject to charity legislation, are free from all restrictions on their use.

20 Ultimate controlling party

The charity is under the control of its legal members.

18

Festival Church

Detailed analysis of income and expenditure for the year ended 31 March 2023 as required by the SORP 2015

This analysis is classsified by conventional nominal descriptions and not by activity.

21 Donations, Grants and Legacies

Donations and gifts from individuals
Refunds from HMRC on gift aided donations
Small donations individually less than £1000
Total public sector revenue grants
Prestatyn Town Council
Total donations and gifts from
individuals
Revenue grants from government and
public bodies
Anonymous donor 1
Anonymous donor 2		 Current year
Unrestricted
Funds
2023
£
317,183
68,847
35,600
10,740
432,370
Current year
Unrestricted
Funds
2023
£
3,636
3,636		 Current year
Restricted
Funds
2023
£
-
-
-
-
-
Current year
Restricted
Funds
2023
£
-
-		 Current year
Total Funds
2023
£
317,183
68,847
35,600
10,740
432,370
Current year
Total Funds
2023
£
3,636
3,636		 Prior Year
Total Funds
2022
£
3,438
-
-
-
3,438
Prior Year
Total Funds
2022
£
-
-

19

Festival Church

Detailed analysis of income and expenditure for the year ended 31 March 2023 as required by the SORP 2015

----- Start of picture text -----
|||||| |---|---|---|---|---| |Current year|Current year|Current year|Prior Year| |Unrestricted|Restricted|Total Funds|Total Funds| |Funds|Funds| |2023|2023|2023|2022| |£|£|£|£| |Revenue grants and donations from non| |public bodies| |Small grants individually less than £1000|-|-|-|11,772| |Prestatyn Alive Church|-|-| |64,697|64,697| |Chester Festival Church| |-|-| |35,322|35,322| |New Life Pentecostal Church| |-|-| |42,098|42,098| |Towyn Church|-|-| |35,580|35,580| |Derby Festival Church|-|-| |3,551|3,551| |Festival Church| |-|-| |42,769|42,769| |Total private sector revenue grants|224,017|-|224,017|11,772|

----- End of picture text -----

Revenue grants and donations from non public bodies (Include Gift Aid donations from subsidiaries) - Prior Year analysis

----- Start of picture text -----
||||| |---|---|---|---| |Prior Year|Prior Year|Prior Year| |Unrestricted|Restricted| |Total Funds| |Funds|Funds| |2022|2022|2022| |£|£|£| |Prior Year|11,772|-|11,772|

----- End of picture text -----

20

Festival Church

Detailed analysis of income and expenditure for the year ended 31 March 2023 as required by the SORP 2015

Current year
Unrestricted
Funds
2023
£
Capital grants from non public bodies
-
231,524
268,032
159,201
325,000
983,757
Total Donations, Grants and Legacies
Total Donations, Grants and
Legacies
A1
1,643,780
Prior year
Unrestricted
Funds
2022
£
Total Donations, Grants and
Legacies
A1
15,210
22 Income from charitable activities - Trading Activities
Current year
Current year
Unrestricted
Funds
2023
£
Primary purpose and ancillary trading
17,782
10,708
28,490
Small grants individually less than £1000
Letting of property for charitable purposes
Festival Church Chester
Festival Church Prestatyn
Total Primary purpose and ancillary
trading
Sale of goods and services in accordance
with the charity's objects
Festival Church Llandindod
Total private sector capital grants
Festival Church Towyn		 Current year
Unrestricted
Funds
2023
£
-
231,524
268,032
159,201
325,000
983,757		 Current year
Restricted
Funds
2023
£
-
-
-
-
-
-		 Current year
Total Funds
2023
£
-
231,524
268,032
159,201
325,000
983,757		 Prior Year
Total Funds
2022
£
-
-
-
-
-
-
15,210
Prior Year
Total funds
2022
£
-
-
-
-
Restricted
Funds
2022
£
-
Current year
Restricted
Funds
2023
£
-
-
-		 1,643,780
Prior Year
Total Funds
2022
£
15,210
Current year
Total Funds
2023
£
17,782
10,708
28,490

21

Festival Church

Detailed analysis of income and expenditure for the year ended 31 March 2023 as required by the SORP 2015

23 Total Income from charitable activities

Current year
Current year
Unrestricted
Funds
2023
£
Total income from charitable trading
28,490
Total from charitable activities
A2
28,490
24 Income from other, non charitable, trading activities
Current year
Unrestricted
Funds
2023
£
1,057
Total from other activities
A3
1,057
25 Investment income
Current year
Unrestricted
Funds
2023
£
Bank Interest Receivable
83
Total investment income
A4
83
Trading activities to raise funds for the
charity		 Current year
Current year
Unrestricted
Funds
2023
£
Total income from charitable trading
28,490
Total from charitable activities
A2
28,490
24 Income from other, non charitable, trading activities
Current year
Unrestricted
Funds
2023
£
1,057
Total from other activities
A3
1,057
25 Investment income
Current year
Unrestricted
Funds
2023
£
Bank Interest Receivable
83
Total investment income
A4
83
Trading activities to raise funds for the
charity		 Current year
Restricted
Funds
2023
£
-
-
Current year
Restricted
Funds
2023
£
-
-		 Current year
Total Funds
2023
£
28,490
28,490
Current year
Total Funds
2023
£
1,057
1,057		 Prior Year
Total Funds
2022
£
-
-
Prior Year
Total Funds
2022
£
-
-
Prior Year
Total Funds
2022
£
-
-
Current year
Unrestricted
Funds
2023
£
83
83		 Current year
Restricted
Funds
2023
£
-
-		 Current year
Total Funds
2023
£
83
83

22

Festival Church

Detailed analysis of income and expenditure for the year ended 31 March 2023 as required by the SORP 2015

26 Expenditure on charitable activities - Direct spending

Current Year
Total direct spending
B2a
Projects
Ministry costs
Gross wages and salaries - charitable
activities
Rows
Pathways
Support for Missions projects
Circles
Professional Indemnity insurance
Pastoral care		 Current year
Unrestricted
Funds
2023
£
269,457
-
13,514
184
923
7,578
19,621
11,003
6,818
329,098		 Current year
Restricted
Funds
2023
£
-
-
-
-
-
-
-
-
-
-		 Current year
Total Funds
2023
£
269,457
-
13,514
184
923
7,578
19,621
11,003
6,818
329,098		 Prior Year
Total Funds
2022
£
-
5,724
-
-
-
-
-
-
-
5,724

23

Festival Church

Detailed analysis of income and expenditure for the year ended 31 March 2023 as required by the SORP 2015

27 Support costs for charitable activities

Current year
Current year
Current Year
Unrestricted
Funds
Restricted
Funds
2023
2023
£
£
Premises Expenses
1,580
-
144
-
33,123
-
4,785
-
35,074
-
Administrative overheads
3,687
-
2,448
-
53
-
1,516
-
-
-
22,632
-
Professional fees paid to advisors other than the auditor or examiner
3,805
-
Financial costs
189
-
14,923
-
1,105
-
Support costs before reallocation
125,064
-
Total support costs - Current Year
125,064
-
The basis of allocation of costs between activities is described under accounting policies
All the expenditure in the prior year was unrestricted.
Employee costs not included in direct costs
Premises Expenses
462
-
Administrative overheads
Administration
157
-
619
-
619
-
The basis of allocation of costs between activities is described under accounting policies
Total support costs - Prior Year
Bank charges
Support costs before reallocation
Rates and water charges
Stationery and printing
Cleaning and waste management
Light heat and power
Premises repairs, renewals and
maintenance
Legal fees
Telephone, fax and internet
Equipment expenses
Software licences and expenses
Room Hire
Premises repairs, renewals and
maintenance
Administration
Depreciation & Amortisation in total for
Shared operating costs
Loan interest		 Current year
Total Funds
2023
£
1,580
144
33,123
4,785
35,074
3,687
2,448
53
1,516
-
22,632
3,805
189
14,923
1,105
125,064
125,064
462
157
619
619		 Prior Year
Total Funds
2022
£
-
-
-
-
462
-
-
-
-
157
-
-
-
-
-
619
619
-
-

24

Festival Church

Detailed analysis of income and expenditure for the year ended 31 March 2023 as required by the SORP 2015

28 Total Charitable expenditure

Current Year
Total direct spending
B2a
Total support costs
B2d
Total charitable expenditure
B2
All the expenditure in the prior year was unrestricted.		 Current year
Unrestricted
Funds
2023
£
329,098
125,064
454,162		 Current year
Restricted
Funds
2023
£
-
-
-		 Current year
Total Funds
2023
£
329,098
125,064
454,162		 Prior Year
Total Funds
2022
£
5,724
619
6,343
Prior Year
Total direct spending
B2a
Total support costs
B2d
Total charitable expenditure
B2		 Prior Year
Unrestricted
Funds
2022
£
5,724
619
6,343		 Prior Year
Prior Year
Restricted
Funds
Total Funds
2022
2022
£
£
-
5,724
-
619
-
6,343

25