Annual Report and Financial Statements for the Year Ended 31 March 2022
## Christ Central
Charity registration number: 1190597
Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex PO18 8NF
## **CHRIST CENTRAL**
## **CONTENTS**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 5|
|Independent Examiner's Report|6|
|Statement of Financial Activities|7|
|Balance Sheet|8|
|Notes to the Financial Statements|9 to 20|
## **CHRIST CENTRAL**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
**Trustees** Neil Dowie Ruth Odih Robert Siddall Laurence Hope Mark Addison Prince Ezenwa **Charity Registration** 1190597 **Number Principal Office** 3 London Road Redhill Surrey RH1 1LY **Independent Examiner** G W Schulz ACMA Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex PO18 8NF **Bankers** Barclays Bank plc Tunbridge Wells Leicester LE87 2BB CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
Page 1
## **CHRIST CENTRAL**
## **TRUSTEES' REPORT**
The trustees present the annual report together with the financial statements of the charity for the year ended 31 March 2022.
## **Structure, governance and management**
## _**Nature of governing document**_
The charity was created on 28 July 2020 and is governed by a constitution. The Registered Charity Number is 1190597. There have been no changes in the objectives since the last annual report. On 30 November 2021, Christ Central received all the assets, liabilities and activities of Reigate and Redhill Community Church (charity number 1027890). This transfer was approved by the Charity Commission.
## _**Recruitment and appointment of trustees**_
The management of the charity is the responsibility of the trustees who are elected and co-opted under the terms of the trust deed. The powers of appointment or removal of trustees rest with the trustees themselves. New trustees are selected from the members of the church, which ensures the trustees as a body are wholeheartedly involved in seeing the mission of the church worked out in practice.
## _**Induction and training of trustees**_
On being appointed, new trustees receive an introductory slide deck and spend time with existing trustees to ensure they understand their responsibilities, and the legal and financial framework in which the church operates.
## _**Organisational structure**_
Directions relating to the charitable trust are made by the trustees in consultation with the elders (pastors), who are responsible for governing the life and teaching of the church. Day-to-day decisions on expenditure and activities are taken by the staff and volunteers in charge of different areas of the church, with budgets set and regularly monitored. The charitable trust uses a Finance Monitoring Committee (FMC) to undertake the detailed work of budget preparation and accounts review. The FMC membership is made up of elders, trustees and relevant staff.
## _**Risk management**_
The trustees maintain an up-to-date risk register and review it in board meetings at set intervals. They have identified actions, where required, to further mitigate risks. The trustees focus, in particular, on the major risks to which the charity is exposed, such as those related to key operations and the charity’s finances. They are satisfied that appropriate systems and procedures are in place to mitigate exposure to these major risks. The trustees believe that the current levels of reserves and ongoing refinement to financial controls provide sufficient resources to cope with any adverse conditions that may arise.
Page 2
## **CHRIST CENTRAL**
## **TRUSTEES' REPORT**
## **Objectives and activities**
## _**Objects and aims**_
The Objects of the CIO are, for the public benefit, to advance the Christian religion (as set out in the Statement of Faith); and to relieve persons who are in need by reason of financial hardship, ill health, unemployment or other social and economic disadvantage, in such ways as the Charity trustees may from time to time decide.
## _**Public benefit**_
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## **Achievements and performance**
## _**Review of activities**_
Christ Central is a church based in the centre of Redhill, Surrey. It is a member of the worldwide Advance Network of churches, in which its elders play an active role. It continues to develop its relations with other churches in the network. At a more local level, centred on the borough of Reigate and Banstead, Christ Central continues to seek to partner and work with local churches and charities.
The trustees assess both the level of activity in the church and the period-end financial position as satisfactory.
Over this period, the adult church membership has remained around the same at 270 adults, with the numbers of children also remaining around the same at 75 Youth and 80 children.
The trustees remain extremely grateful for all the time and work carried out by volunteers both from the church and our local community. Our volunteers are involved with all aspects of the church.
## _Covid-19 and Lockdown_
The church complied with Covid regulations through the pandemic and is now operating as a fully “in person” church.
The church still streams its Sunday morning meetings to enable the whole congregation to be included in our meetings.
## _Outreach to our community_
West Central is a coffee shop on the ground floor of our building. It employs managers, but all other staff are volunteers from the church and the local community. We host events in the coffee shop to allow local support groups to meet.
Page 3
## **CHRIST CENTRAL**
## **TRUSTEES' REPORT**
Community Debt Advice (CDA), an initiative started by members of Christ Central, is now very well established, has offered services for some 15 years, and is experiencing growing demand. More than 1,000 members of the public have been assisted with their debt situations. CDA now includes advisors and administrative assistance from other churches.
Since May 2014, the church has been running term-time English Classes for those in our community who do not speak English as their first language. Around 100 students have been on the courses, which have a strong emphasis on inclusivity and helping attendees integrate into the local community. The classes were continued online during lockdown on a reduced basis and have now been re-started as face-to-face classes.
‘Embrace’ started in 2015 and is our outreach to the neonatal unit in East Surrey Hospital. Around 500 babies are cared for in this unit each year and church members support the parents and staff at the unit by providing refreshments, gifts, and equipment.
## **Financial review**
The major source of income is the donations received from the church members most of which are given under Gift Aid. Total income generated for general funds amounted to £154,381 and general fund expenditure amounted to £154,293, leaving a surplus for the period of £88. General funds carried forward at the period-end amount to £326,309.
Income received in restricted funds amounted to £39,783 and expenditure amounted to £45,640, generating a deficit for the period of £5,857. The restricted funds carried forward at the period-end amount to £1,101,318.
## _**Policy on reserves**_
The trustees take a prudent position on reserves, ensuring there are enough to maintain the charity through any critical incident.
## **Going concern**
The board of trustees work closely with the Finance Monitoring Committee. The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
## **Plans for future periods**
The church has had another satisfactory period and good progress is being made in further achieving its objectives in a sustainable way. The trustees anticipate that under strong leadership from the elders, levels of activity will grow, with the church able to further pursue its main objective.
The church continues to have a strong focus on safeguarding, regularly updating the safeguarding policy.
Page 4
## **CHRIST CENTRAL**
## **TRUSTEES' REPORT**
## **Statement of Trustees' Responsibilities**
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees 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 annual report was approved by the trustees of the charity on 13 December 2022 and signed on its behalf by:
......................................... Prince Ezenwa Trustee
Page 5
## **CHRIST CENTRAL**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHRIST CENTRAL**
I report to the trustees on my examination of the accounts of Christ Central for the year ended 31 March 2022.
## **Responsibilities and basis of report**
As the charity trustees of Christ Central you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Christ Central's accounts carried out under section 145 of the 2011 Act and 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.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no material 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 Christ Central as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting 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 accounts to be reached.
...................................... G W Schulz ACMA
Independent Examiners Ltd
13 December 2022
Page 6
## **CHRIST CENTRAL**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022**
|**Note**
**Unrestricted**
**funds**
**£**
**Income and Endowments from:**
Donations and legacies
2
146,434
Charitable activities
3
7,937
Investment income
4
10
Total income
154,381
**Expenditure on:**
Charitable activities
5
154,293
Total expenditure
154,293
Net
income/(expenditure)
88
Transfer from
unincorporated charity
and Gross transfers
between funds
326,221
Net movement in funds
326,309
**Reconciliation of funds**
Total funds carried
forward
14
326,309|**Restricted**
**funds**
**£**
39,783
-
-
39,783
45,640
45,640
(5,857)
1,107,175
1,101,318
1,101,318|**Total**
**2022**
**£**
186,217
7,937
10
194,164
199,933
199,933
(5,769)
1,433,396
1,427,627
1,427,627|**Total**
**2021**
**£**
-
-
-|
|---|---|---|---|
||||-|
||||-|
||||-|
||||-
-|
||||-|
||||-|
The notes on pages 9 to 20 form an integral part of these financial statements. Page 7
## **CHRIST CENTRAL**
## **BALANCE SHEET AS AT 31 MARCH 2022**
|**Note**
**Fixed assets**
Tangible assets
8
Investments
9
**Current assets**
Stocks
Debtors
10
Cash at bank and in hand
**Creditors: Amounts falling due within one year**
11
**Net current assets**
**Total assets less current liabilities**
**Creditors: Amounts falling due after more than**
**one year**
12
**Net assets**
**Funds of the charity:**
**Restricted income funds**
Restricted funds
**Unrestricted income funds**
Unrestricted funds
**Total funds**
14|**2022**
**£**
1,414,459
101
1,414,560
2,596
23,833
330,849
357,278
(59,823)
297,455
1,712,015
(284,388)
1,427,627
1,101,318
326,309
1,427,627|**2021**
**£**
-
-|
|---|---|---|
|||-|
|||-
-
-|
|||-
-|
|||-|
|||-
-|
|||-|
|||-
-|
|||-|
The financial statements on pages 7 to 20 were approved by the trustees, and authorised for issue on 13 December 2022 and signed on their behalf by:
......................................... Prince Ezenwa Trustee
The notes on pages 9 to 20 form an integral part of these financial statements. Page 8
## **CHRIST CENTRAL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **1 Accounting policies**
## **Statement of compliance**
The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
## **Basis of preparation**
Christ Central meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
## **Going concern**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
## **Income and endowments**
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
## _**Donations and legacies**_
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
## _**Grants receivable**_
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
## _**Gift aid**_
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Page 9
## **CHRIST CENTRAL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category.
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **Taxation**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company 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 to charitable purposes.
## **Tangible fixed assets**
Individual fixed assets costing £500 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
## **Depreciation and amortisation**
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
**Asset class Depreciation method and rate** Land and buildings Nil - revaluation method Furniture and equipment 25% straight line
## **Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.
Investments in subsidiaries are valued at cost less provision for impairment.
Page 10
## **CHRIST CENTRAL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **Stock**
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO).
## **Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## **Liabilities**
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.
Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
## **Pensions and other post retirement obligations**
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Page 11
## **CHRIST CENTRAL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **2 Income from donations and legacies**
|**Unrestricted**
**funds**
**General**
**£**
Donations and legacies;
Donations
146,434
Grants, including capital
grants;
Grants from local authority
-
146,434
**3 Income from charitable activities**
**Unrestricted**
**funds**
**General**
**£**
Lettings
7,076
Other activities
861
7,937
**4 Investment income**
**Unrestricted**
**funds**
**General**
**£**
Interest receivable and
similar income;
Interest receivable on
bank deposits
10|**Restricted**
**funds**
**£**
29,783
10,000
39,783
**Restricted**
**funds**
**£**
-
-
-
**Restricted**
**funds**
**£**
-|**Total**
**2022**
**£**
176,217
10,000
186,217
**Total**
**2022**
**£**
7,076
861
7,937
**Total**
**2022**
**£**
10|**Total**
**2021**
**£**
-
-|
|---|---|---|---|
||||-|
||||**Total**
**2021**
**£**
-
-|
||||-|
||||**Total**
**2021**
**£**
-|
Page 12
## **CHRIST CENTRAL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **5 Expenditure on charitable activities**
|**Note**
Sunday cost including
rent
Discipleship, training
and conferences
Childrens and youth
work
Grants paid
Debt advice centre
and ministry
Outreach and mission
Repairs and
maintenance
Post, stationery and
phone
Computer and
website
Use of facilities
Rates and insurance
Legal and
professional fees
Mortgage interest
Other costs
Independent
examination
Depreciation
Staff costs
7|**Unrestricted**
**funds**
**General**
**£**
1,476
2,937
3,213
4,590
-
24,188
43
664
3,459
18,420
1,291
11,220
3,011
1,932
1,200
1,241
75,408
154,293|**Restricted**
**funds**
**£**
-
3,837
-
16,825
2,704
3,316
-
-
-
-
-
-
-
-
-
-
18,958
45,640|**Total**
**2022**
**£**
1,476
6,774
3,213
21,415
2,704
27,504
43
664
3,459
18,420
1,291
11,220
3,011
1,932
1,200
1,241
94,366
199,933|**Total**
**2021**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|
|---|---|---|---|---|
|||||-|
Page 13
## **CHRIST CENTRAL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **6 Trustees remuneration and expenses**
No trustees received any remuneration from the charity during the period.
No trustees have received any reimbursed expenses or any other benefits from the charity during the period.
Julie Dowie, wife of Neil Dowie, a trustee, received remuneration of £5,520 as finance manager of the church, and benefits in the form of pension contributions of £442.
## **7 Staff costs**
The aggregate payroll costs were as follows:
|**Staff costs during the year were:**
Wages and salaries
Social security costs
Pension costs|**2022**
**£**
82,067
6,256
6,043
94,366|**2021**
**£**
-
-
-|
|---|---|---|
|||-|
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
|Administration and pastoral|**2022**
**No**
8|**2021**
**No**
-|
|---|---|---|
No employee received emoluments of more than £60,000 during the year
Page 14
## **CHRIST CENTRAL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **8 Tangible fixed assets**
|**Cost**
Additions
Transfers
Transfer from unincorporated charity
At 31 March 2022
**Depreciation**
Charge for the year
Transfer from unincorporated charity
At 31 March 2022
**Net book value**
At 31 March 2022|**Land and**
**buildings**
**£**
-
-
1,400,000
1,400,000
-
-
-
1,400,000|**Furniture**
**and**
**equipment**
**£**
2,440
88,402
-
90,842
1,241
75,142
76,383
14,459|**Total**
**£**
2,440
88,402
1,400,000|
|---|---|---|---|
||||1,490,842|
||||1,241
75,142|
||||76,383|
||||1,414,459|
## **Revaluation**
The fair value of the company's Land and buildings was revalued on 30 March 2021 by Alexander Pyle BSc (Hons) MRICS of Bruton Knowles LLP, an independent valuer. The trustees are of the opinion that the value at 31 March 2022 is not materially different to that valuation.
Had this class of asset been measured on a historical cost basis, their carrying amount would have been £624,023 (2021 - £Nil).
Page 15
## **CHRIST CENTRAL**
# **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **9 Fixed asset investments**
|Shares in group undertakings and participating interests|**2022**
**£**
101|**2021**
**£**
-|
|---|---|---|
## **Details of undertakings**
Details of the investments in which the charity holds 20% or more of the nominal value of any class of share capital are as follows:
||||**Proportion of voting**|**Proportion of voting**||
|---|---|---|---|---|---|
||**Country of**||**rights and shares**||**Principal**|
|**Undertaking**|**incorporation**|**Holding**|**held**||**activity**|
||||**2022**|**2021**||
|**Subsidiary undertakings**||||||
||||||Management|
||||||of property|
|Three Central
Limited|England|Ordinary
shares|100%|100%|at 3
London|
||||||Road,|
||||||Redhill|
The loss for the financial period of Three Central Limited was £42,305 (2021 - £86,235) and the aggregate amount of capital and reserves at the end of the period was £257,073 - (2021 £299,378).
## **10 Debtors**
|**10 Debtors**|||
|---|---|---|
|Trade debtors
Prepayments
Accrued income|**2022**
**£**
2,364
15,851
5,618
23,833|**2021**
**£**
-
-
-|
|||-|
Page 16
## **CHRIST CENTRAL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **11 Creditors: amounts falling due within one year**
|Bank loans
Trade creditors
Other taxation and social security
Other creditors
Accruals
Deferred income
**12 Creditors: amounts falling due after one year**
Bank loans|**2022**
**£**
15,000
9,202
4,169
1,427
16,564
13,461
59,823
**2022**
**£**
284,388|**2021**
**£**
-
-
-
-
-
-|
|---|---|---|
|||-|
|||**2021**
**£**
-|
The mortgage of £299,388 has been taken out with CAF Bank Limited. It is secured on the new building at 3 London Road, Redhill which was purchased in 2012 for £610,000 together with costs of £14,023. The building has been refurbished and is now used as a Church and a Coffee Shop and there is now a number of community activities taking place.
The mortgage is on a repayment basis and should be fully repaid by November 2036.
## **13 Pension and other schemes**
## **Defined contribution pension scheme**
The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to - £6,043 (2021 £Nil).
Contributions totalling £1,427 (2021 - £Nil) were payable to the scheme at the end of the year and are included in creditors.
Page 17
## **CHRIST CENTRAL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **14 Funds**
|**Unrestricted funds**
**_General_**
General Funds
**_Designated_**
Building
maintenance
fund
**Total**
**unrestricted**
**funds**
**Restricted funds**
National &
International
fund
ACTS fund
Local mission
offering fund
Elphick fund
CDA fund
English classes
fund
Embrace fund
Building fund
Overseas
ministry grant 2
Mission 2020
Bowyer fund
Borough
Churches fund
West Central
**Total funds**|**Balance**
**at 1**
**April**
**2021**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|**Incoming**
**resources**
**£**
154,381
-
154,381
3,774
570
7,259
-
25,446
-
-
-
-
2,734
-
-
-
39,783
194,164|**Resources**
**expended**
**£**
**Transfer**
**from**
**unincorporated**
**charity**
**£**
(154,293)
311,221
-
15,000
(154,293)
326,221
(3,333)
4,156
(3,837)
15,543
(5,817)
15,108
-
5,000
(17,063)
9,868
-
1,671
(971)
7,914
-
986,585
-
2,942
(13,492)
43,916
(1,032)
1,032
(95)
9,920
-
3,520
(45,640)
1,107,175
(199,933)
1,433,396|**Balance at**
**31 March**
**2022**
**£**
311,309
15,000|
|---|---|---|---|---|
|||||326,309|
|||||4,597
12,276
16,550
5,000
18,251
1,671
6,943
986,585
2,942
33,158
-
9,825
3,520|
|||||1,101,318|
|||||1,427,627|
Page 18
## **CHRIST CENTRAL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
The **International Gift Fund** was created to help people in Christian ministries overseas with finances.
The **ACTS Fund** is set up to help those who have specific short term financial needs, generally but not exclusively, those within the Church family.
The **Local Mission Offering Fund** is used to support local mission in our area, either carried out by our church or in partnership with other churches.
The **Elphick Fund** is to be used to assist with costs for those in training for ministry.
The **Community Debt Advice Fund (CDA)** is used to run a debt advice service.
The **English Classes Fund** has been set up to help with English classes for local people.
The **Embrace Fund** has been set up to provide an outreach to our local Neo-Natal unit.
The money donated to the **Building Fund** is for the purchase and redevelopment of the freehold building in central Redhill.
The **Overseas Ministry Grant 2** is used to fund Overseas Mission.
**Mission 2020** has been set up to fund an Overseas Mission starting in that year.
The **Bowyer Fund** has been set up to further specific outreach mission of the church.
The **Borough Churches Fund** has been set up to develop and promote a website about the activities of churches in our borough.
The **West Central Fund** has been set up to set up the coffee shop after lockdown and to purchase fixed assets for the same.
Page 19
## **CHRIST CENTRAL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **15 Analysis of net assets between funds**
|Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Creditors over 1 year
Total net assets|**Unrestricted funds**
**General**
**£**
**Designated**
**£**
128,486
-
101
-
227,545
15,000
(44,823)
-
-
-
311,309
15,000|**Restricted**
**funds**
**£**
1,285,973
-
114,733
(15,000)
(284,388)
1,101,318|**Total funds**
**at 31**
**March**
**2022**
**£**
1,414,459
101
357,278
(59,823)
(284,388)|
|---|---|---|---|
||||1,427,627|
Page 20