Chavlty rogljtrallon number 1188918 STONEWAY CHURCH ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Caladine Chortered Certified Accountants
STONEWAY CHURCH LEGAL AND ADMINISTRATIVE INFORMATION r P F Gr8g8r Mr B Schneider MrMRoh IAppolnt•d 22Al 20241 Charlty numhr 1188918 Prfn¢lpal addrg 119 don Stra•t Re8dlng 8$rk8hlre RG14QA Ind•p*ndt •Mmln•r John Cal•Jlne FCCA CTA FCIE C818dlne LIM10 Ctranlry Hou88 22 Upp•rton Road Ea5tboum E881 Su38 8N2118F 8•nk•r• CAF Bank Llmlbj 25 n98 trlll Avenu? Hlll West Klalllr Kent kqE19 4JQ
STONEWAY CHURCH CONTENTS Pag• Tru8tO68' report Independent 018mln•rfi st8tsmont olllnonGlal a¢MI88 St•t•m•nt olfinarKlal PO0Th Statsmenl of cB$h Not•J to th• fflmnd818latthnII 7-15
STONEWAY CHURCH TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Th¥ Iru$tse$ pr88¢nt thèlr annual r•port and finandal stat•ments IOT the y8ar ended 31 Dgcernber 2023. The finanaal Btsternents have been yepared accordancè th the accounting poliaes set out in note 1 to the rinancial 8t8t8ments and comply the chanty8 Consti¢ution, tho lar•S Aci 2011 antl Accnunting and Rèporbng by Ch8riti8s.' Statement of Recommended Practice apble lo tharilie3 preparlng tlT SoUn In aword8n¢e wtth the Finandal Reportlng Standard appllcabk in the UK and Republlc of Irekgnd IFRS 1021" (effective 1 J8nuary 20191. Obl•rtlv• and ACtlvllle• The charty3 objects are the adVanMent ol th$ Chi1811an 18th In accOarA w5th our 8ay18 of Faith. prlmarity, bul not exclu8fvely, wthln Read0 and t surroundiffd nèWjhbrhe¢)d. Th& ch8nty'8 objectiv&8 are the advan(ernent of the Chri3tian fallh in attordan¢e wllh our Ba818 of Fabth, M3, but nol axcluslvaly, withln Rèadlno and the surroundlng nolghbcffhoods. In Ihe year 2023 Stonew8y Chureh conllnu8d to meet together lor worshlp Sunday mornings In Services open lo CIMrmunlty and hold 8m811 woup moetlngs du(kng the wa•k for sxlmery care and growth for the attendors of the chureh. Clas88s We held time¥ throu9hwl th• y¢ar lo dlscuss the beliefs and values of th& churth and thelr blbllcal ba818 for any church attenders inlere818d. Wè also conlinuad lo m8•t monthly together wlth 811 gUlar attand8è8 01 th8 cthurch fof addltion81 tlrne of Drshlp, pr8yer and 81bl• Instru¢Yon and lo dlÉcu88 any Immedlale eonc8rng and n•xi $t8P8 wilhln Ihe church. W? L%)ndnued wlth Indlvhlu81 avènts d&slgn8d for outreach and se[Ce to ts cornrnwily. a¥ g Lunar N8w Year Party. a klds toslum• mo night and a varfety ol events to watch sports tog8ther and Invlte frlend5. We held ovr fir8t 3nnbv8r83ry party In thè Sprfny for th• thuTch and frtaThJg wllh food, 98me6 and infiatableB for the khls. The church held 8 weekly Mond8y night foDlball gBrn• lor frlend8 In th8 0)mmunity and rented pbtshe5 at the unlver81ty lo hold the flrst annual lootball toumarnent. W8 hald our $8cond autumn r•treot al Ashbumharn Plac• lor thè n•fil of the attendèès of th8 ehurL to recefv• extr8 refreshm8nt, )rshIP and pastoral care. Thls year we added a relTeBt In lh¥ winlgr lor the group boders and Ihelr $povs¥s to Tr1V0 th• sam6 retreat bonofftg wth the &ddilknn ol tr&nlng neo$$ory Its porfom thgr1è8darthlp responblI110S w¢ll. We af60 dld addltional tralning for th• ¢hur¢h in gingle d888•8 vAth top1 IrlUdIng pr8yor and ralslng Children. Ouo to the gro In church attendance we B $Tal we•k Iw eA)ur8• for young mon In th• church r8gatdlng topics rglaled to Blbllcal discipleshlp. Publ benel The tru¥l8aS h8v• pald due regard lo guidance i$su by Iho Chorfly CommI$8n in deadlng what a¢tivltl88 tha arty Bhould urKlortak•. Achl•v•m•nt• and p•rformane• Swnific8ni activit$ and achvements 8gainsl obieclives In the year 2023 we saw growth across all are88 of th? ¢hurch. Our Sunday worship att•ndawKe grgw from an avèragè of 72 to 92 throughout the year. Our small group 8tt8nd8JK gr8w from 41 to 51 And our monthly meeting attendanc gr IrDrn 29 to 51 over the same p•riod ol th'me. People interested in Chriskn'8nity ci)ntinued to wsit throughout the year and those Chri8Uan8 who attend have grown in Ihelr knowl&Yge and lailh in Jg$us. We were able to bapbze S now Christians in the auiumn and have Seen several more Show Increased Interest in Jesus. The yèar 2023 has been ona of estoblishment and grtr*th for Ihe church in our effDrt5 to provlde a community wttere peop ran 18arn abovt Jesus and grow in thpii faith and devobon to hlm.
STONEWAY CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Fln4ncl•l r•vlew Durin9 Ihe pri¢y y¢9r th8 ch8rtty recthed a slgnlficanl arrKJunt of incorne from our 5UPPOrterB in the LISA, to fiJnd the prwess of planting the Church. In 2023, total Income of £257,68812022.'£392.4931 wa8 received, th a d?ficlt of £269,16512022.' d8ficSt of £89,082}. All rnonoy held At thè prèsent tlmè Is unrastrfcted. Rès8rrf83 polky The Ch¢Jrch Is stlll In It's very earfy Bt8988, wilh acttIo5 only startlng kn D8c•rnber 2021. AS such, a decision about tha no¥&ry lewl of re8erve3 Is b8ing delerred until hav& g bettor undèr818ndlng of Our facurilng and ommitl•d ¢08ts. Given Ihe hiqh level of unrnstri¢l•d r•gew8 h•kd 01 the year •rvJ, we do Mt COn8ider concern to b8 a hlgh sk at Ihe current ilme. 8tYuclur•, gov•m•nc• and fflin•q•m•nt The charity 16 a Ch8ritBble Incorporated Org8ni8atSon ICIO}. The trustee8 %th0 8eNed durhw Ihe y••r•nd up to the date o181gnatyre of Ihe flnandal ¥tatem8n14 were., Mr P F Greggr Mf J S M Taylor Mr B S¢hneKl•r Mf IA Roh IR¢8l9nad 25 April 20241 IAppolntsd 22 Apt1120241 R•crullm•nt 8ndappolnlm•nt of tnJst8es TpMtee8 relevant exp8rd59 ar• r•cNll•d from among8t Church leader8hSp, as needgd. The trustee$, report wa8 approved by 808rd ofTru8tee$. Mr B SchneKler Trt•• 27 Jung 2024
STONEWAY CHURCH INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF STONEWAY CHURCH I report to the tru8tee8 on my oxamlnalSon of the financial $l#t•m8nts ol Stoneway Church Ilhe charity) for the year ended 31 December 2023. RgsponBibilltl•s and bul of report A$ Iho tru¥1988 ol the chanty you are fegpon8ib18 for the PTeparntion ol Ihe fin1 st8tamènis h) a(xorfanL vAlh the requirement$ of lh• Chanbes Act 2011 Ithts 2011 Act). I roport In respect of my o¥8rninallon ol thé charlty'$ fingn¢lg18tat8nwnts cgrrfed oul under section 145 01 th8 2011 Act. In carrylng out my examlna¢k)n I have fdSJwad all the appIlbI¢ Olrodon5 glvon by lh• CtrArfty Commisslon under $8ction 145ISXbl of the 2011 Act. Indop•nd•nl •x8mln•rf8 •ttsm•nt Slnc8 th• chartty's gro86 Income exceded £250,000 your exarnlner mu$t be a memb8r ol a body li6ted In section 145 ol th• 2011 Act. I conflmi that l am qualffjed to undertak? the examlnalon b•eau88 l am a m8rnb8r of A68OCIoUon ol Chart•r•d Cortifiod Accountan16. which is one ol the listsd bodie$. Your att•nllon 18 drawn to th• lact that th• tharfty h88 PrePad flnanci818fatementJ In ¥cran¢4 th A¢¢ourfng and Reportkng by Ghartlles prgpgrfng Ih•lr Accounts In 8Ccordare wilh the Flnanclal ReporUn9 Stsndard #ppli¢sbl• in the UK and Republ1¢ of Ireland IFRS 1021 In prefemnce to th• AecKJunting Reportlng by Ch8rttleB'. Ststernenl ol Racommonded Practice i8$u¥d ort l Aprll 2005 leh * rèf8rrad to in th8 aXt8nt regulations but haj now been wlthdrawn. l undor$l8nd that thls ha5 been dono In order for flnarndal 8t8tgm0nl$ lo pro%Ado a trw and falr vlaw In accordanc• th Ganarally Accepted Accountlng Pr8cIIcAg efferve for repon9 périod8 boolnnlNJ on or 8ft•r 1 Janugry 2015. I h8vg ¢omplot•d my •xamlnalbn. I conflirn that no m8ttws have corno to my att8ntion In connection vAth tho ex8rninati¢Jn giving m• ¢#u•è to bellova that In any matedal respact.. aeeounllng r•cord8 w8r8 not kopt In re8p8ci olthe charfly a8 requirod by sgEUon 130 ¢f the 2011 Act,. or the flnanclal stalements do rot orcord 1h tho$¢ wcord¥', or the financial ¥18tmonts de not comply wth the appllcable Ternents concsming tho form and eontènt of acBounls 88t out In the Charitl•s IAccountS 8ThJ R8portg1 Rogulalions 2008 other than any requlrernent that th• eccounly glve B true 8nd falr Ylew whlch ly not a rn8tt8r CDnsidornd as part of an Independent exan80n. l ttav• no concerns and have comFJ acfo8B no olher mtts¥s In eonno¢tion wllh thè oxamlnaticffl to whk* 8ttenllon 81K)uld bo dfawn in thls report in order to enabk a proper under¥landing of the frnBrtcial slalem8nts to b• Tr8ct)ed. John Caladln• FCCA CTA FCIE ColadSne Lirnlted Chantry House 22 Upp8rton Road Eastbourn• East Sussex BN21 18F
STONEWAY CHURCH STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unr•strlct•d Unr••trlctod fund¥ fund• 2023 2022 Incom• lrnm: Donati8 and I¢16$ Charitable acUvltioJ Investments 250,762 5,809 1.097 389,853 2,020 820 Total Incom• 257.688 392,493 Exp•ndltur• on: Chadtab18 acllvlties 528,833 481.575 T¢tal •xp•ndlturn 526.833 481,575 N•t •xp•ndltur• ind mo¥•m•nt In fund• 1269,1651 189,0821 R•con¢lll•tlon ol lund•: Fund balanL*8 gt 1 January 2023 674,512 763.S94 Fund It 31 D•c•rnb•r 2023 405,347 674,512 Thg slat•ment ol financlal activibtrs incl• all gn8 ffind lojsgs rècollnlg•d In the year. Al Ino)m• •nd oxpendlturo dewivti Irom conllnulng actlvhles.
STONEWAY CHURCH STATEMENT OF FINANCIAL POSITION AS AT31 DECEAIBER 2023 2023 Hx•d asgets Property, tdanl and equlprwst 12 35,348 40,302 Curr•nt a•••ts Tradg other r••vabl89 Cash at bank and In hand 13 17,651 353.910 88.519 587.251 371,561 11,5801 635.770 Curr•nt Ilabllltl 14 N•t ¢urr•nt 370.001 634,210 N•t 405.347 874.512 Th• fund• ot th• eh•rfty Unreslrlcted fund¥ 405.347 874.512 405,347 874.512 Th• finBntlal 4tAtémÈnts approved by the Iru81oe8 on 27 Jun• 2024 Mr 8 Schnelder Tru•t•• Mrm Roh Try•t••
STONEWAY CHURCH STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 C4$h fiowa from op•r•tlng acuvlti Cash abscrfbed by op8rationB 19 1208,0391 1140.8101 In¥tIng actl¥ltl Purchase of wopety, plant ond •qU1pnnt Investment incon ractived 16,3991 1.097 118,1851 620 N•t c••h umd In 1mltIn9 xUvltJ• 15.3021 I17.) N•t d•Gr•u• In •h •nd ¢••h •qulval•Trts 1213,3411 11S8.1751 Ca8h and cash eguSvulents at bInnIng ol year 587.251 725.428 C••h and ¢fv •qulv•l•nl• al •nd ol y••r 353,010 567.251
STONEWAY CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 A¢counllnq pollclgs Ch•iity Inlomiatlon Stoneway Church is a Chafltable Incorptsratad Organi8ation. The Charity CommMslon r•giStration nurnber is 1188918. 1.1 Accountlnu conv•ntlon The financlal statfjrnts have been prèparad In accxJrdanc4 the tharity'E gov8mlNJ d¢xument, Ihe charit8 Ad 2011 and "Accounti ancl Reportlng by Charits'es.. Staternenl of Rgry)mmond¢d Pract• applicable lo ch3rlll8s pwpadng their 8ttounls in accordance wtth ts Financial Reporbng Stttndard applicable in tho UK and Republic ol Ireland IFRS 10211gffethve 1 J8nuary 2019y'. The 18 a Publle Ben•fit Entity as defined by FRS 102. Th• ffinandal 8tst8m8nls have dèpartèd from th• Charft8 IAccourtti and Reports) Regulatlon8 2008 only lo oxtgnt requlred to pde a true and lalr thaw. Thls doparture has involved following the Statement ol R•commendod Practic8 for charl.98 apng FRS 102 rather than the ver$lon of th8 Statomenl of Recomrnended Pr8clic• %thich Is referred to in tho Rg9ulatlons bul whlch ha6 6in¢vJ beèn wlthdrawn. The finBnclal stst8m8nts are prepared in sbrllng, 1¢h 18 th8 functional rdjrrency ol the ¢h8rfty. Monetary amounts In Ihtsè flnandal gtatgrnents are Unded to Ihg n98r88t £. The flnonBlal 8tat•m8nts hav• b••n prqp8red under th• hIS¢1 cost convention. Thè prlndp•l o¢wnllrrfJ pollcles adopted 8r¥ i•1 out bdow. 1.2 Golng concorn Al Ihg Um8 01 approv5ng the flnanclal stslèmants. the trusteos have a rea#anab axpactalion that the tharlty as adequate resourcAs to continue in operBtion#l èxISnc• lor the foresee8b18 fulurg. Thus the Iruslee8 conttnue to adopt thè golng concarn ba81s of ac¢ountSng in pr¢parSng the finaAal Btaternent¥. 1.3 Chirltbh fund• Unreslrlcted nd• uro 8v¥llabl• for ugo at tho dl8cretk)n ol the trusliJ•g In lurth•ranc• of tholr ¢h¥thal obl8cllv83. Re8trfcted fvnds arè subjgct to 8p8clfic cundilkJn$ by donor8 or graniorn a8 to how they may be used, Th8 purp0809 aTrJ uBaa ol thè funds are 8el ou In Ihe not9¥ to the flnanclal staieThnb. Endowment funds ar• subject to Bpedfic condl¢lons by donor8 that the capit81 mu81 bg m*lntan8d by tho chanty. 1A Income Income Is reCgnIsed th• ch8rli y is legally entitled to it 8ft8r any p8rfomiance ¢ondltlon8 have been rnat. th8 amount8 can be measured reliably, gnd It probable that income will bè recelved. CgBh donatlon$ ar& r8cogni88d on recelpL Other donation¥ are recognSsed once Ihe charity h3s been notified ol th• donation. unless p8rforrnance nd1th)n6 require deferral of thè amunt. IncLJrne tax recoverab rg18Uon lo donations received undgr GiftAid or deeds of covenant is recognised at tha tim• of the donati Legacles reeognlsed on recetpt or otherwige rf ts charity has been nolffied of an irnpendlny distribuuon. Ihè amount is known, and rac8lpt is expected. If Ihg amount is not known, ihe legaw 1$ Ireat¢d a5 eonting8nt asset.
STONEWAY CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng policies IContlnu•dl 1.5 Exp•ndltur• Llabllities are r8cognis8d when a construcbve obligation 8sts. th• paymnl is probable and the obllgation can be m8a8ured or e81rn8tsd rallably. Resourcas oxpaThYad aro allocated to tha parbcjjlar cost cantre to 1th tsy r81ate and includ8 Iffecoverable VAT. 1.6 Prtyp•rty. pl•nt and •qulpm•nt Property. plant and equlpmgnt gre Initlally mea8ured at cost and subwuèniiy moasurod ot C08t or v8lualQon. ngt of depCIatIOn and any Impjimiènt losses. Depr8C4ation is recognised so as to wile off the co81 or valualion of a$aets lesB thdf reshlual values o¥ei thalr useful Ilve8 on tho lollowlng ba$i8'. Flxtuw fin9• 20% Stral9ht lin8 The galn or10s8 ar18ing on th$ dlspo881 of an asset Is deterrnlned as Ihe dlfferèncè b&een th• 8ale prOcd8 and thè carrylng value ol the a¥¥8t, and 18 r8eognis8d In the 8t&tement of finandal acl1v1t8. 1.7 lrnpalrm•nt ol non•CU•t •••t• Al ¢¥¢h rèporting end date. the charfty rwèws the carrylng amount8 01 its tangiwe a¥vlJ to datsrmlne whether Ihar• Is any Indlcallon th8t thosè 818Ots hav8 6uff•r8d an Impaimient 1058. If any such indlcalic 8X16ts, the iacov•rabl• amount of th? as8et 18 98tlmat¢d in Order to determine the extent of th Impairment 1088 Ilf any). 1.8 Ca•h and ¢a•h •qulvAl•nt• Cash and cash equlv8lents indude caeh In hand, depo8its hfjld at cpll wth banks, other short-tenn liquld Inve8trnents wilh orvJln81 matudtl8s ol three month8 or1858. 8fKI bank ovgrdrèfts. Bank ovordrafts are shown withln t)orr(Mings in current11gbilitig8. 1.9 Flnanelal In•trum•nts The chodty h88 elected to apply Ihe wov161ons of Serlon 11 'Basl¢ Fknanel81 Instruments, and Se¢t4on 12 'Otsr Flnanclal Inslrurnenlj Is¥ug8' ¢1 FRS 102 10 all ol Its financlal in3trum¢nt$. Flnancial irnatrumènli ar• rocognised In tho charl1* balanc• sh•el when the charty becomB8 party to the contractual prtsvl8lon8 of th8 In8trumenL Financial assels and liabllillg¥ offset, wlth the net amount¥ pre8•ntsd In thè finandal statomenf8. when ther• Is a legally enforceable right to sat oll the rocognlsed amounts and there 18 aTh intenlion to 6eth8 on a net basi# ei to rèalis• U)8 asset and setue the liability slrnultaneouy. Baslc fln4ncl•145sets B83ic financlal 8ssets, whlch indude tr8de and othef w[vable$ and cash and bank b818nces, Inillally measured al transacbon pric8 in¢luding Iransaclion cost5 and are subsequently Gqrried at amortised c06t using the effèctive interest method unless the arrangernenl constilutes a financing tran$3clion. where the tr#nsaclion is rneasured at th8 wesen¢ value of the future r8rkipt$ dn4counted at a market rate of int8rÉsL Flnand81 aBsgts classitsd 93 rgC8ivabl8 wthin one year arg not armrti8ed.
STONEWAY CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 ountlng pol1cl IConllDuedl Baslc Iln•nGl&lll•bllltl 8aslc fin8nL4al liabilid88. In¢ludirvJ trade and othar paya89 and bank IDan¥ ar8 Inltially recognised at transaction price unless the arrangement constitutès a finaneiThJ transacti¢Jn, w)ere the debt instrument is mea6ored at the pfèsènt value of the fvlure payrnent5 discounted at a markol rate ol int8re8t. Flnontlal li81&e8 dassified 88 p8y8ble within on• year are not amorti8ed. Debt inatrumgnts are Subsequent carried 81 am£¥sed cost, uslng tho effo¢bve Intèrèst rat• m•thod. Tf8de pay8ble$ aro obllgations to pay for good¥ or seN(%8 thAt h8va bèan acquired In Ih8 ordinary course of operaUons frorn $upplitrr5. Amounts payable are classified a8 CUent liBbilltie9 11 paymenlls due wtthin on• y8ar or b8Bg. If nol, they 8r8 pr88ented a8 non.curr8nt li8btlities. Trdd8 payables are reco8nis8d Inili¥lly At Iransaeticffi prtce and 8ub8equently rn888ud 81 hmorbgod cD8t Uaing Ibe ?ff8cllva Inte$t methcmj. D•r•eoonlllon ol Iln•n¢l•l IlabVItI•s Flnonclal Ilabllrties arÉ dèr8cognlsed when the chbrlty'l Ctyltraclual obl40n8 expire or are di8tharg•d or C8nc8llqd. 1,10 Employ•• b•n•fil• The cost of uhus•d holklay enttuernent Is r¢¢ogn180d In lh• pa0d In whlch the ¢M0ye•,6 ieNlca• ar• rocolved. T•rrnlnatlon benefits ¥r• racognid Immedlately 98 an expen80 wh&n tha charltyls demonslribly commltt•d to t•fmlnat• the errploymnl of an 8mploy88 or to provSde brninatltsn b•n•fits. 1.11 Hollr•m•nt b•n•fils P8yrynts io defined eonlrlbubon rellTem&nt benefft sch?me8 arg th819ed as gn •xp?n80 as fall d. Crlilc•l •c¢ountln9 Mtlmt•• and ludg•m•nts In Ihg appllcation of the ch8rity's accountlng pollcl88. rhe trustees are r8qulred lo make judgements, eatima18$ and assumptions about the carrying amount ol assets and li8bilitie$ that Ar8 not raadlly apparent from olh 8OUfC88. The estlmales and a8$oei8tèd assumptions are ba6ed on historical expariènce and other lactors that re nSidered to relevant. Actual re8ults may differ frorn th888 •8tlmates. The esllm8te8 Bnd underfylng assumptsons are reviewgd on an ongolng basls. R8viBlons to accounting èstimates aré r8cogni5ed in tha period in which the e¥lirnate is r8vi5ed whBre the VisiOn affects only that P8rfod, or In Ihe peTlod of th8 re&10n and fvlure perlodB whgr8 Ihè rèvislon affecls both r)Jff1 fulure periods. In¢om• ffom donatlon• and ley¢l Unrestdcted fund8 2023 Unr•trlct•d fund• 2022 Donations and gifts 250.762 389,853
STONEWAY CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 In¢om• from donatlon• and l•gaclo9 Unre8trlct•d Unr•strlcl8d lund fund• 2023 2022 £ £ icontlnue Donatlon¥ and 91 DOnaon$ Income tsx r•¢ovtrr•d 209,524 41,238 342,877 46.976 250,762 389.853 Incom• from ¢hirltsbl• •¢tlvlU Unmtrktsd Unmtrf¢tsJ lund• fund• 2023 2022 Charltabl• •xp•ndltur• ContrftryJtion8 toward3 retreat 1$ 5,809 2,020 Incom• from knwMtm•nts Unn•trlct•d Unr••trkt•d fund• fund• 2023 2022 Inlgrèst r•eelvabl8 1,097 820 10-
STONEWAY CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2023 Endr on charlt•bl• actlvltl•s Charltabl• •¢dvllf•• Charttak40 activlties 2023 2022 Dlr•ct C1• Stsff ¢0919 Depredation and impalnnent Travel Costa of Sunday 88ThIc&8 Chlldron's progfarnme Venue hlr¢ Church rna1odal8 Advertlsing L•8d8rshlp & outreach Catering and ¥PItalIty t8 Musc ¢9sts Equipment, repalrs and rnalntenonGe ¢08ts Oulroa¢ 8¢1ivll•8 Church and Leader8hlp retreats Hain9 co8tB for IAlni8try staff 211.541 11,355 233,575 10,075 42 2.628 4,328 95,700 701 8,300 12,117 23,744 783 13,190 11,CM)S 12.578 97.141 638 6.914 29,380 24.768 6.010 2,462 22.582 9,738 39,782 487,859 427,077 Sharn ol •upport •nd qov•rnanc• co•t• {••• note 71 Support Govarnanc4 48.770 10,204 44,885 9,613 526,833 481,575 An•ly•l• by fund Unrestrl(a8d funds 528.833 481,575 11
STONEWAY CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Support co•ts llo¢•t•d to actlvltl•8 2023 21122 In¥uran¢& Offic8 rnt Equipment cos18 Talephone and ¢omputW eO8t$ orfic8 rntes Netsvork support le¥ Governaneè Costs 1,757 29,540 1,318 3,496 4,605 4,169 9,613 24,270 2,02S 8,999 2,919 9,562 10,204 58,974 54,486 Charftable 8¢tfvbti 58,974 54,498 2023 2022 Oov•rn•nc• ¢o•ts compr1••: AcLounl8rKy L•g?1 gnd Pfof88slonal 5,136 4.827 241 3,444 5,978 193 10.204 9,813 Govomancg co&t8 abov8 ItKlud88 payrnen18 to tho Ind#pendenl Exanln8r of £5,136 12022.. £3,444) lor Ind•pendent Exxmhwlon and oth•r 1vICeS. N•t mov•m•nt In lund 2023 2022 Th¢ rnov8m8nt In lundB IB 8t8tod 8ft•r chargingllcradltingl.. DepMd8tltsn ol own8¢ pr¢Jparty, plant and wuipnwnl" 11,355 10,075 Trustee Brian Schn8id•r Mcefved remuneralbon In Ihe ar 01 £100,489 (2022".£109,5651 One tru$t•& was rnlmbur68d for Church Tunning and adminislratlon related ?xpènae$ totatllng £10,570 12022.. Four trustees rnlmL*Jrsed £27.8751. Thè trusts have donated an sum of £37.86612022'.£67,881I to the rharily. 12-
STONEWAY CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 10 Employ•g# Th• av8rage monthly number ol &maY8•S dThJ the year wa¥.. 2023 Nurnb•r 2022 Numb•r Employffl•rf costs 2023 2022 W8goA and 8ala Soclal secudty c08ts Other pgnslon cotst8 190.401 15.764 5.376 208,596 19.090 5,889 211,541 233,575 In addlllon to tha c08t8 Outllned above, Man$6 a¢¢ornmodaUon wa8 provided by the Church for aach ol tho thre8 P85tors. Th8 number ol 8mployèèÉ ¥th02e annual rera¢)n w98 morn Ihan £80,OC L8 as followB'. 2023 Numb•r 2022 Nufflb•r £80.000- t70,0) £100,000 - £110,000 11 T•xatSon The charlty18 ex•nJ)l from t&yadon on tts acalwlles bU$• all its Incorn•13 aPpld lor ¢h•rtsbl* pu¢•s. 13
STONEWAY CHURCH NOTE8 TO THE FINANCIAL STATEMENTS (CONTINUED) FOR ThIE YEAR ENDED 31 DECEMBER 2023 12 Pfop•rtyi plant and •quSpm•nt Fule9 Ind fiWng¥ Co•t At l January 2023 Addluons 50,377 6,399 At 31 D8Ggmb8r 2023 56,778 D•PlItiOn ind knp81rn1ont At 1 January 2023 Depreciauon ch8rg•d In year 10.075 11.355 At 31 December 2023 21.430 C•rrylng amount At 31 December 2023 35.348 Al 31 Dec•mbtrr 2022 40,302 13 Trad• Ind oth•r r•c•Sv•bl•• 2023 2022 Amount• falllng du• wlthln on• y•ar. Other re1Vabl¥S Prepayrrnnts 8ThJ 8ccrued Sncornv 10,079 7,572 40,826 27,893 17,651 68.519 14 Curr•nt Ilbllltl 2023 2022 Accwals and delwfed intoma 1,560 1,0 115 R•tlrqffj•nt b•neflt horn 2023 2022 D•lln•d n¢tsUI10n •¢hern•s Charge to profft or loss in respect of defined contributlon scerne 5.378 5,889 Thl c*arity operate6 8 definéd contrfbuuon penslon stherro for 811 qualifylng employees. The assets of Ihe ¥¢hern are hold $8parately from those ol the charity In an independenlly admlnlst•rad fund. 14-
STONEWAY CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 16 Unr•itrlet•d funds The unrestn'cled fvnds of tho charity comprlsa the un&1nded balanc•6 of donations and grants whlch ar8 not subject to specific condilson$ by donor¥ and grantor$ 8$ to how they may be used. These include ¢e8ignatèd lunds bthich havo been set a8Kle out ol unre¥trlcted lund5 by thè trust88s for sp8cific purpo89S. At 1 Jaw•ry 2023 Incomlng R•*oure•• r•source 0XndId At31 D•cfrmbor 2023 General fvnds 674,512 257,668 1526,8331 405,347 Prnvloub y••r. At 1 January 2022 Incomlnll fiOUr¢ r••ourc •xpendgd At31 D•¢•mb•r 2022 Gon•ral fiJnd8 783,594 392,493 1481,5751 674,512 17 Fln•ncl•l comrnltrn•nt•. 9u•r•ntM• arKb ¢onllngont Ilabllltl OperBling 188$as lor thè Pa9tor8' acCOnOdat10n are on rc411ng 3 lx 6 month c&N)trocts. A8 such. there are no 91gnlficanl cornmilm8nts lor th8 Church. 18 R•latsd p•rty tran••ctlon• Thero were no other dlBc106able 19 poty Iransoction812022.' NILI 19 ¢••h o•n•r•t•d from op•ratlon• 2023 2022 D8lklt fcff the year 1269,1651 189,0821 Adlu8tments for.. Investment incoffle reC09n&{l in statament of financSal actlvlt Deprèc18tion and impaimient ol property, pianl aTrJ wu5pment 11,0971 11,355 18201 10,075 Movernents in worklrYJ ¢8pitsl.. Decra8selllnueastsl in tr•Je and other receivable IDEcreasel in trade and other payaes 50,868 160.ocel 19771 C•sh IOrts•¢I by 0ratIOnS 1208,0391 1140,6101 20 Anaty81• of chang06 In net fvndi The charity had no materi81 debt durlng thg year, 15-