**Charity registration number 1189540**
**Company registration number CE021888**
## **REBORNE COMMUNITY CHURCH**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2023**
## **REBORNE COMMUNITY CHURCH**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** Mrs C J Cliffe Mr T Roberts Mr P J Kelly Mrs A S Park Mr A J Rigby Rev Michael Hutchinson Stear (resigned 01/01/2024) **Charity number** 1189540 **Company number** CE021888 **Registered Address** North Street Milborne Port Sherborne Dorset DT9 5EW **Independent Examiner** Mrs S Truran FCCA FCA Bush & Co Limited 2 Barnfield Crescent Exeter EX1 1QT
## **REBORNE COMMUNITY CHURCH**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 3|
|Independent examiner's report|4|
|Statement of fnancial actvites|5|
|Balance sheet|6|
|Notes to the fnancial statements|7 - 16|
## **REBORNE COMMUNITY CHURCH**
## **TRUSTEES' REPORT**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
The trustees present their annual report and financial statements for the year ended 31 December 2023.
The financial statements have been prepared in accordance with the accounting policies set out in the financial statements and comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a CIO and meets the definition of a public benefit entity under FRS 102.
## **Objectives and activities**
The object of ReBorne Community Church (the Church) is the advancement of the Christian faith in accordance with the Statement of Faith through word and social action.
The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## **Financial review**
The total income for the year was £359,952 (2022: £99,091) including £110,215 (2022: £95,825) of unrestricted income and £249,737 (2022: £3,266) of restricted income. Restricted income all relates to the Milborne Port Project to completely refurbishment the existing property and add an extension, with building work commencing in 2024. The total expenditure for the year was £112,196 (2022: £99,011).
The net result for the year was a surplus of £247,756 (2022: £80) before gains/losses. After adjusting for gains on property revaluation, the net surplus for the year was £352,756 (2022: £80).
The trustees have given due regard to charity commission guidance and aim to hold £20,000 which is approximately 3 months of expenditure in reserves. The total net assets as at the year end were £560,357, and of these, £217,035 are restricted reserves. Of the remaining £343,322 unrestricted general funds, £279,241 is held as tangible fixed assets. The remaining free reserves held are £64,081. This is in excess of the reserves policy to suitably manage contingent costs relating to the building project which commences in 2024.
- 1 -
## **REBORNE COMMUNITY CHURCH**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023**
## **Achievements and performance**
We are pleased that all merger documentation was completed early in 2023 after receiving Land registry documentation on the Milborne Port ReBorne building. The work of ReBorne church continues and grows - serving the communities in both Sherborne and Milborne Port.
Services are held on Sundays in Digby Hall., and in the first half of the year we used the MP building for other activities, along with facilities hired at the Westend Hall in Sherborne. The congregation continues to remain stable with new people being added to our numbers.
From August work commenced clearing the MP building and so weekly activities held there were transferred to the Primary school in the village. This partnership with school enhances community work in the village. The coffee sessions held at the MP building were suspended in August while work continues. Activities held in school include a toddler group, after school kids club, and a flourishing youth club. Numbers at these activities are good.
In Sherborne at the Westend hall we run another toddler group and a popular coffee morning. Fellowship groups continue with Bible study and support. These are held in homes of ReBorne congregation.
Plans to renovate and improve the building at Milborne Port to serve the community as a hub are ongoing, funding continues to be sought and pledged from external funders and matched from within the church congregation. With increasing costs a loan has been added to the funds. Work commenced on the building in December 2023.
Work continues in local schools, Primary at Milborne Port and Secondary in Sherborne . Mentoring continues with over 10 students and group work for those students male and female requiring support. We support Dorset Youth for Christ in delivering a youth club in the town of Sheborne. Assemblies are delivered weekly by ReBorne Church in Milborne Port Primary School. ReBorne supports Milborne Port Primary school and The Gryphon school with Governorship. Our school ‘kidz club’ which is attended by 30 children each week during term time continues. The youth club continues once a week, term time, this is attended by senior school aged young people. This provides a safe warm venue for young people with the aim of building relationships and supporting young people in making good life choices.
In the Church building numbers were low until May when Year 6 students joined us and we regularly have 30 young people. In the school venue these numbers continue.
In June our Children and Families worker resigned. The decision was made to work in partnership with Dorset Youth for Christ and employ a youth worker, the successful appointee commenced work in November 2023.
We were able to take a youth group to Spree a youth event in Devon, the venue changed to Westpointthis was successful taking young people from Church and the after school club. We also attended Satellites youth festival which was held at Shepton Mallet.
Truth be Told intergenerational storytelling sessions continue in a local care home. We linked with a local nursery for a period of time for this, but they had to pull out due to staff restrictions, however we are pleased to have attracted a number of families to continue this very rewarding ministry. Monthly services at the Hayes and Trinity Manor care homes continue.
- 2 -
## **REBORNE COMMUNITY CHURCH**
## **TRUSTEES' REPORT (CONTINUED)**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
Mission support continues both nationally and internationally. The Church support CAP Christians against poverty, with congregation members being actively involved. This also is duplicated in the local foodbank and food share initiatives locally.
We held a successful Church weekend in May with a well renowned speaker serving us.
At the end of the year Mr and Mrs Bryer stood down from Church leadership after many years of committed leadership.
A new leader has been appointed to the team commencing 2024. Rev Mike Stear stood down as Chair of Trustees and a new Chair has been appointed commencing January 2024.
The trustees' report was approved by the Board of Trustees.
Mrs A S Park
## **Trustee**
17 April 2024
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## **REBORNE COMMUNITY CHURCH**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF REBORNE COMMUNITY CHURCH**
I report to the trustees on my examination of the financial statements of Reborne Community Church (the charity) for the year ended 31 December 2023.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 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 2011 Act.
## **Independent examiner's statement**
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of, which is one of the listed bodies.
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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 charity as required by section 130 of the 2011 Act; or
- 2 the financial statements do not accord with those records; or
- 3 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.
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.
Mrs S Truran FCCA FCA
2 Barnfield Crescent Exeter EX1 1QT
Dated: 17 April 2024
- 4 -
## **REBORNE COMMUNITY CHURCH**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2023**
**Notes**
**£**
**£**
**Income from:**
Donatons and
legacies
**3**
104,810
247,117
Other trading
actvites
**4**
4,362
-
Other income
**5**
1,043
2,620
**Total income**
110,215
249,737
**Expenditure on:**
Charitable actvites
**6**
108,885
3,311
**Net incoming resources**
**before transfers**
1,330
246,426
Gross transfers
between funds
32,657
(32,657)
**Net incoming resources**
33,987
213,769
**Other recognised gains and losses**
Revaluaton of
property
105,000
-
**Net movement in funds**
138,987
213,769
Fund balances at 1
January 2023
204,335
3,266
**Fund balances at 31**
**December 2023**
343,322
217,035|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2022**
**2022**
**£**
**£**
**£**
351,927
90,419
3,266
4,362
5,170
-
3,663
236
-
359,952
95,825
3,266
112,196
98,794
217
247,756
(2,969)
3,049
-
(17)
17
247,756
(2,986)
3,066
105,000
-
-
352,756
(2,986)
3,066
207,601
207,321
200
560,357
204,335
3,266|**Total**
**2022**
**£**
93,685
5,170
236|
|---|---|---|
|||99,091|
|||99,011|
|||80
-|
|||80
-|
|||80
207,521|
|||207,601|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
- 5 -
## **REBORNE COMMUNITY CHURCH**
## **BALANCE SHEET**
## **AS AT 31 DECEMBER 2023**
|**Notes**
**Fixed assets**
Tangible assets
**9**
**Current assets**
Debtors
**10**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**12**
Net current assets
**Total assets less current liabilites**
**Creditors: amounts falling due afer**
**more than one year**
**13**
**Net assets**
**Income funds**
Restricted funds
**15**
Unrestricted funds
General unrestricted funds
Revaluaton reserve|**2023**
**£**
634
382,102
382,736
(51,620)
238,322
105,000|**£**
279,241
331,116
610,357
(50,000)
560,357
217,035
343,322
560,357|**2022**
**£**
3,438
63,637
67,075
(1,058)
204,335
-|**£**
141,584
66,017|
|---|---|---|---|---|
|||||207,601
-|
|||||207,601|
|||||3,266
204,335|
|||||207,601|
The financial statements were approved by the Trustees on 17 April 2024
Mr P J Kelly Mrs A S Park **Trustee Trustee**
- 6 -
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **REBORNE COMMUNITY CHURCH**
## **1 Accounting policies**
## **Charity information**
The charity is limited by guarantee, incorporated in England, and consequently has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity including any member of the CIO within 12 months before the commencement of the winding up. The charity is registered in England and Wales.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The CIO meets the definition of a public benefit entity under FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
- 7 -
## **REBORNE COMMUNITY CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
## **1 Accounting policies**
**(Continued)**
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on thebasis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings None
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
## **1.7 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.8 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
- 8 -
## **REBORNE COMMUNITY CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023**
## **1 Accounting policies**
## **(Continued)**
## **Basic financial assets**
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## **Basic financial liabilities**
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## **Derecognition of financial liabilities**
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **1.9 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **2 Change in accounting policy**
The financial statements have been prepared under the accruals basis as a result of total income amounting to over £250,000 in 2023, where in previous years have been prepared under receipts and payments basis.
As a result, the 2022 balance sheet has been restated, resulting in a net adjustment to unrestricted funds of £143,964.
- 9 -
##
|**Total**||**2022**|**£**|93,685|
|---|---|---|---|---|
|**Restricted**|**funds**|**2022**|**£**|3,266|
|**Unrestricted**|**funds**|**2022**|**£**|90,419|
|**Total**||**2023**|**£**|351,927|
|**Restricted**|**funds**|**2023**|**£**|247,117|
|**Unrestricted**|**funds**|**2023**|**£**|104,810|
|||||Donatons and gifs|
## **REBORNE COMMUNITY CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
## **4 Other trading activities**
||||**Unrestricted**|**Unrestricted**|
|---|---|---|---|---|
||||**funds**|**funds**|
||||**2023**|**2022**|
||||**£**|**£**|
|Café income|||4,362|4,548|
|Premises hire|||-|622|
|Other trading actvites|||4,362|5,170|
|**Other income**|||||
||**Unrestricted**|**Restricted**|**Total**|**Unrestricted**|
||**funds**|**funds**||**funds**|
||**2023**|**2023**|**2023**|**2022**|
||**£**|**£**|**£**|**£**|
|Bank interest|1,043|2,620|3,663|236|
## **5 Other income**
- 11 -
## **REBORNE COMMUNITY CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
## **6 Charitable activities**
||**Charitable**|
**Charitable**|
|---|---|---|
||**Expenditure**|**Expenditure**|
||**2023**|**2022**|
||**£**|**£**|
|Mission Giving|14,843|12,004|
|Staf costs|57,007|54,928|
|Intern|-|2,062|
|Children and Youth|10,847|4,204|
|Licences|768|1,378|
|Equipment|729|523|
|Capital expenditure|-|854|
|Repairs and maintenance|1,937|861|
|Safeguarding|255|343|
|Computer sofware|884|848|
|Insurance|1,611|1,534|
|Light and heat|2,613|2,110|
|Phone and internet|937|736|
|Printng, postage and statonery|478|941|
|Legal and professional|6,036|5,306|
|Bank charges|170|131|
|Premises hire|7,391|6,132|
|Cafe expenses|3,498|3,599|
|Staf training|2,000|289|
|Travel|192|228|
||112,196|99,011|
||112,196|99,011|
|**Analysis by fund**|||
|Unrestricted funds|108,885|98,794|
|Restricted funds|3,311|217|
||112,196|99,011|
- 12 -
## **REBORNE COMMUNITY CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023**
## **7 Employees**
The average monthly number of employees during the year was:
|**2023**|**2022**|
|---|---|
|**Number**|**Number**|
|2|2|
There were no employees whose annual remuneration was more than £60,000.
## **8 Taxation**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
## **9 Tangible fixed assets**
|**Tangible fxed assets**||
|---|---|
||**Freehold land and buildings**|
||**£**|
|**Cost**||
|Additons|174,241|
|Revaluaton|105,000|
|At 31 December 2023|279,241|
|**Carrying amount**||
|At 31 December 2023|279,241|
|At 31 December 2022|141,584|
Freehold property was revalued on 17 November 2023. If the property had not been revalued, it would have been shown at its historic cost of £135,000.
## **10 Debtors**
|**Debtors**|||
|---|---|---|
||**2023**|**2022**|
|**Amounts falling due within one year:**|**£**|**£**|
|Prepayments and accrued income|634|3,438|
- 13 -
## **REBORNE COMMUNITY CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
## **11 Loans and overdrafts**
|Other loans
Payable within one year
**12**
**Creditors: amounts falling due within one year**
Borrowings
Accruals and deferred income
**13**
**Creditors: amounts falling due afer more than one year**
Borrowings|**2023**
**£**
50,000
50,000
**2023**
**£**
50,000
1,620
51,620
**2023**
**£**
50,000|**2022**
**£**
-|
|---|---|---|
|||-|
|||**2022**
**£**
-
1,058|
|||1,058|
|||**2022**
**£**
-|
## **14 Contingent liabilities**
During the year, the charity entered into a building contract in relation to the restricted Milborne Port Project. At the year end, the total cost of the project was expected to be £512,000, which will be financed by a loan of £250,000 and external pledges of £60,250, in addition to the £217,035 restricted reserves at the year end. This results in an estimated net deficit for the project of £15,285. The charity has unrestricted reserves in excess of its reserves policy to suitably manage contingent costs of the project.
- 14 -
##
|**Restricted funds**|The income funds of the charity include restricted funds comprising the following unexpended balances of donatons and grants held on trust for specifc|purposes:|**Movement in funds**
**Movement in funds**|**Incoming**
**Resources**
**Transfers**
**Balance at**
**Incoming**
**Resources**
**Transfers**
**Balance at**|**resources**
**expended**
**1 January 2023**
**resources**
**expended**
**31 December**|**2023**|**£**
**£**
**£**
**£**
**£**
**£**
**£**
**£**|Milborne Port Project
3,266
-
-
3,266
249,737
(3,311)
(32,657)
217,035|Ipad
200
(217)
17
-
-
-
-
-|3,466
(217)
17
3,266
249,737
(3,311)
(32,657)
217,035||**Milborne Port Project:**|**Milborne Port Project:**|The project involves the complete refurbishment of the existng property and the additon of an extension, to include an all new community cofee shop and|mult purpose community functon area, to facilitate small conferences, various clubs, a community skitle alley and when available the opportunity for|actvites community hire. The building will also be used by ReBorne Community Church, the building’s owning trust.|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|**15**|||||||||||||||||
## **REBORNE COMMUNITY CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
|**16**
**Analysis of net assets between funds**
**Unrestricted**
**funds**
**Restricted**
**funds**
**2023**
**2023**
**£**
**£**
Fund balances at 31
December 2023 are
represented by:
Tangible assets
279,241
-
Current assets/
(liabilites)
64,081
267,035
Long term liabilites
-
(50,000)
343,322
217,035|**Total Unrestricted**
**funds**
**Restricted**
**funds**
**2023**
**2022**
**2022**
**£**
**£**
**£**
279,241
141,584
-
331,116
62,751
3,266
(50,000)
-
-
560,357
204,335
3,266|**Total**
**2022**
**£**
141,584
66,017
-|
|---|---|---|
|||207,601|
## **17 Related party transactions**
No trustees were reimbursed for expenses during the year.
Trustees made total donations to the charity during the year amounting to £9,966.
Tom Roberts is a director of Tom Roberts Associates Limited and a trustee of the charity. The company offered services to the charity totalling £15,340.
- 16 -