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2022-12-31-accounts

STB Trustees Annual Report – 08-Jul-2021 to 31-Dec-2022

St Barnabas, Grange Park

Charity No. 1195102 (Registered 8[th] July, 2021)

ANNUAL REPORT AND FINANCIAL STATEMENTS

For the year ended 31 December 2022

Registered Address:

58 Alan Turing Road Loughborough LE11 5NQ

Bankers: Lloyds Bank

Trustees:

Rev Ben Gardner Christine Whitehead Claire Rowles Edward Costerton Paul Oxborough Canon Stephen Adshead

Independent Examiner:

Richard Buckby FCA Fortus Midlands Limited 31 High View Close Leicester LE4 9LJ

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STB Trustees Annual Report – 08-Jul-2021 to 31-Dec-2022

Contents

1 Trustees Annual Report ............................................................................................................................. 3
2 Independent Examiners Report ................................................................................................................. 6
3 Statement of Financial Activities ............................................................................................................... 7
4 Balance Sheet ............................................................................................................................................ 8
5 Accounting policies .................................................................................................................................... 9
6 Notes on Opening Balances ..................................................................................................................... 10
7 Income Unrestricted Funds ..................................................................................................................... 11
7.1
Donations & Legacies ...................................................................................................................... 11
7.2
Other Income ................................................................................................................................... 11
8 Expenditure Unrestricted Funds .............................................................................................................. 12
8.1
Charitable Activities ......................................................................................................................... 12
8.2
Support Costs................................................................................................................................... 13
9 Restricted Funds ...................................................................................................................................... 13
10
Staff Costs ............................................................................................................................................ 13
11
Fixed Assets ......................................................................................................................................... 14
12
Fund Movement Summary .................................................................................................................. 14
13
Creditors and Debtors ......................................................................................................................... 15
14
Cash Account Balances ........................................................................................................................ 15

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STB Trustees Annual Report – 08-Jul-2021 to 31-Dec-2022

1 Trustees Annual Report

Aims and Purposes

St Barnabas Grange Park, Loughborough: an Anglican Church, seeks to reach and serve the 93% of those who have no or little contact with the Gospel of Jesus Christ, especially among young families, serving across the resourcing partnership in Loughborough and Leicester Diocese.

Objectives and Activities

The Trustees are committed to supporting the Pioneer Minister, Reverend Ben Gardner and the Leadership Team, to fulfil, safeguard and sustain the missional and charitable objectives of the Church:

Missional & Charitable Objectives:

Building Church Community - What did it look like in 2022?

After spending most of our life as a Church, since planting in September 2019, online, it was a delight to gather together on-site at the Arc Community Hub towards the end of 2021 to worship and encourage one another in our faith and discipleship. On our return, the STB Kids Team launched a new monthly gathering aimed at young families called Wake Up, which currently welcomes 42 people each month.

Currently, over 75 people call STB their home church; and over 30 of those are connecting with a mid-week group (i.e. Bible study, Alpha and Men’s social), and many within the life of our church serve throughout the week in order for STB to gather, teach the faith and attend to the pastoral care for those in and beyond our Church community.

Our church community also welcomes those joining us on Sundays via our online channel, which was initiated during the lockdown - there are currently 101 subscribers to our YouTube Channel and an average of 30 views each week.

Planting beyond STB - what did that look like in 2022?

Whilst seeking to grow and deepen the ministry and mission of STB, we continue to work in partnership with Emmanuel Church Loughborough and the Good Shepherd Church Loughborough to explore the next church plant. Conversations have begun and money has been set aside to support this important work.

Reaching the wider community and bringing relief to those in need - what did that look like in 2022?

Since the launch of our church’s initiative, Give to Give Away, we have continued to develop it by supporting our local primary school in raising funds for their OPAL (outdoor play and learning) project and regularly providing food donations to Your Store. We have also partnered with the Good Shepherd Church and The Bridge (a local charity) to run a weekly social supermarket called Your Store, which currently has 12 households accessing it each week.

Here are some other ways we now reach and serve this wider community: food parcels for new parents and those struggling, the Loughborough Streets of Light project and the Big Give Away where we connected with over 500 people and gave out over 250 free hot chocolates, we have also provided opportunities for

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STB Trustees Annual Report – 08-Jul-2021 to 31-Dec-2022

the community to reflect and remember in national and global times of mourning, Autumn social, Outdoor Carol Service and we continue to partner with Loughborough Churches Partnership (LCP) as it seeks to love and serve Loughborough.

Structure, Governance and Management

STB was created as a church planted from Emmanuel Church, Loughborough in September 2019 and registered as a separate charity (No. 1195102) with effect from 8[th] July 2021. This “annual” report covers the period from registration to 31[st] December 2022. Future reports will cover the relevant past 12 months to the 31[st] December each year.

We encourage all who come to STB to consider becoming members of the church. Members are asked to commit to:

The Trustees are listed on the first page of this report. Trustees are responsible for controlling the work, management and administration of the charity on behalf of its beneficiaries. The day to day operational work is delegated to the church leader and operations manager who in turn work in partnership with the many volunteers who contribute generously of their time to lead and support the activities that comprise the life and work of the church.

Trustees have been meeting approximately every second month. Through the reporting period trustees have completed the essential operational and administration set up work for the organisation to function as a standalone entity and become independent from Emmanuel, our sending church.

Emmanuel is the lead church for the Loughborough Resourcing Churches. The Resource Church program is supported by the Diocese of Leicester and in part funded by a broader Church of England Strategic Development Fund (SDF). Emmanuel received SDF grant funding of £50,000, plus some other smaller grants to support the start-up costs of STB. Income and Expenditure for STB prior to registration is recorded in a Restricted fund within the Emmanuel accounts and Emmanuel Annual Reports.

Financial Review

This reporting period includes the transition of banking arrangements from Emmanuel accounts to STB’s own bank account which was not available until May 2022. At time of writing, 2022 STB has completed the transition such that all STB expenditure is from STB accounts and the vast majority of donations now come into the STB bank or payment processor accounts. The residual few donations in Emmanuel accounts are reconciled monthly and balances transferred to STB.

The STB transactions that went through the Emmanuel bank and payment processor accounts are included in the STB included in this report, and the underlying STB accounting records, using the transaction details from the Emmanuel book keeping system.

Income & Expenditure in the General Fund

General fund donations for the reporting period are £35,602 plus £7,580 associated gift aid. For the calendar year of 2022, donations are £26,733 with gift aid of £5,973. Donations income has grown steadily from approximately £1,500 per month from 12 named donor to approximately £2,500 per month from over 20 named donors. Gift aid has been claimed where possible and represents 22% of donations for the reporting period.

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STB Trustees Annual Report – 08-Jul-2021 to 31-Dec-2022

Significant expenditure items are staffing and gathering and worship costs. For the reporting period staff costs were £37,857 (£25,583 for the calendar year). For the reporting period gathering and worship costs were £13,208 (£9,309 for the calendar year).

Total general fund expenditure was £70,495 and total income was £70,672. Grant funding of £27,490 from start-up and continuing SDF grants has been used to cover the deficit otherwise occurring with ordinary expenditure exceeding income.

Future Financial Strategy

Trustees have agreed a budget for 2023 with an in-year deficit of £12,000, which reduces to £4,000 after applying the residual of our start-up grant. Trustees seek to raise income in by approximately £4,000 to cover the anticipated deficit in 2023 and then set a balanced budget in 2024.

Consideration of Major Risks

The trustees note the following risks:

Safeguarding : The consequences of a safeguarding issue would be very serious. As a church we prioritise our safeguarding responsibilities and have established a good culture around safeguarding led by one of our volunteer leaders.

Finance : The potential for volatility or decline in our income from donations and our lack of reserves are a risk in the event of unexpected costs or change in income.

One of our volunteer leaders, our Generosity Lead, is dedicated to encouraging giving within the church community. To date we have been successful in both continuing to raise monthly regular donations and having good response to specific giving appeals.

The likelihood of unexpected costs is low. STB hires for the community centre building where we host our gatherings so is not liable for building risks.

Gathering venue : As noted above STB hires the local community centre as a Sunday gathering venue. We have good relationships with the community centre management. However, in the event the community centre was not available or the costs increased significantly we could approach local schools for an alternative venue.

Volunteers : We are also dependent on the generosity of volunteers to ensure the smooth running of the church and to sustain and develop activities. We continually seek to encourage engagement of existing and new church members to serve as part of their discipleship and contribute to the life of the church.

Reserves Policy

The church presently has effectively no reserves. The trustees financial plan for 2023 is to spend out the grant funding and increase giving to balance income and expenditure. For 2024, trustees ambition is to set a breakeven budget and begin to establish modest reserves.

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STB Trustees Annual Report – 08-Jul-2021 to 31-Dec-2022

2 Independent Examiners Report

We report on the accounts of St Barnabas Grange Park for the reporting period ended 31 December 2022, which are set out on pages 1 to 15.

This report is made solely to the trustees, as a body, in accordance with the regulations made under Section 154 of the Charities Act 2011. Our work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an Independent Examiner's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity's trustees, as a body, for our work, for this report, or for the opinions we have formed.

Respective responsibilities of the trustees and the examiner:

The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under section 144(2) of the Charities Act 2011 (the Act)) and that an independent examination is needed. We are qualified to undertake the examination by being a member of the Institute of Chartered Accountants in England and Wales.

It is our responsibility to:

Basis of Independent Examiner's statement:

Our examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeks explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fait' view and the report is limited to those matters set out in the statement

Independent Examiner's statement:

We have completed our examination. We confirm that no material matters have come to our attention in connection with the examination giving us cause to believe that in any material accounting records were not kept in respect of the charity as required by section 130 of the Act; or the accounts do not accord with those records.

We 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.

Richard Buckby FCA Fortus Midlands Limited 31 High View Close Leicester LE4 9LJ

Date: 17.03.2023

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STB Trustees Annual Report – 08-Jul-2021 to 31-Dec-2022

3 Statement of Financial Activities

St Barnabas Grange Park

Statement of Financial Activities - Year ended 31 December 2022

Note Unrestricted Restricted Total
Incoming Resources
Donations & Legacies 7.1 43,182 2,316 45,497
Charitable Activities - - -
Investments - - -
TradingActivities - - -
Other 7.2 30,944 - 30,944
Total incoming resources 74,126 2,316 76,441
Resources Used
Charitable Activities 8.1 68,499 1,339 69,838
RaisingFunds - - -
Other Activities - - -
Support 8.2 5,449 - 5,449
Total resources used 73,948 1,339 75,287
Net Incoming / Outgoing Resources
(before transfers)		 178 977 1,154
Fund Transfers In - - -
Fund Transfers Out - - -
Net Incoming / Outgoing Resources
(beforegains/losses)		 178 977 1,154
Investment Gains(or Losses) - - -
Net Incoming / Outgoing Resources
(before Asset Revaluation)		 178 977 1,154
Asset Revaluation - - -
Net Movement of Funds 178 977 1,154
Total Funds Brought Forward 1,576 1,576
Total Funds Carried Forward 1,754 977 2,730
Represented By
General(Unrestricted) 1,753 1,753
Restricted Funds(Restricted)
Fixed Assets(Designated)		 977 977

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STB Trustees Annual Report – 08-Jul-2021 to 31-Dec-2022

4 Balance Sheet

Balance Sheet as at 31 December 2022

----- Start of picture text -----
31 December 2022 08 July 2021
Non-Current Assets
Fixed Assets 5,858 9,312
Investments - -
Total 5,858 9,312
Current Assets
Cash 18,518 35,353
Accounts Receivable 360 -
Prepayments 770 378
Total 19,648 35,731
Current Liabilities
Accounts Payable 9,831 4,509
Deferred Income 12,945 38,957
Total 22,776 43,466
Non-Current Liabilities
Long Term Loan / Mortgage - -
Total - -
Total Net Assets (Assets
2,730 1,577
Minus Liabilities)
Represented By
General (Unrestricted) 1,753 1,576
Restricted Funds (Restricted) 977 -
Fixed Assets (Designated) - -
----- End of picture text -----

Approved by the Trustees on: 14 March 2023 and signed on their behalf by: Rev Ben Gardner STB Church Leader ………………………………………………………..

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STB Trustees Annual Report – 08-Jul-2021 to 31-Dec-2022

Notes to the Financial Statements

5 Accounting policies

Basis of accounting

The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 together with applicable accounting standards and the Charities SORP.

Funds

The financial statements include all funds and transactions for which STB is responsible.

The General Fund is not subject to any restrictions regarding its use and is available for the general purposes of STB.

Designated funds are unrestricted funds which have been set aside by the trustees for specific purposes as shown in these financial statements. Designated funds remain part of the unrestricted funds. The trustees may choose to un-designate or re-designate these funds as needs require.

There is just one designated fund called “Fixed Assets”. This fund is used to separate fixed assets and depreciation from ordinary income and expenditure. The fund also holds sufficient deferred grant income for the future depreciation costs of the listed assets and so reports a net-zero balance.

Restricted funds are for specific purposes as shown in these financial statements (see note 9). Typically gifts for specific purposes, special collections and give to give away income and related expenditures are reported through the Restricted Fund.

Incoming resources

Voluntary income and capital sources:

Other income

Resources used

Fixed assets

STB has no consecrated property or associated church furnishings.

Trustees have agreed a policy that items purchased for less than £5,000 will be treated as revenue expense in-year and not added to the asset register. Any equipment or other assets purchased for more that £5,000 will be added to the asset register and depreciated over a life appropriate to the usable life of the item. The items presently on the asset register with purchase cost less than £5,000 were acquired prior to implementing this policy.

Current assets

Amounts owing to STB at 31 December in respect of fees, rents or other income are shown as debtors less provision for amounts that may prove uncollectable.

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Note on Rounding

All values reported have been rounded to the nearest pound. All tables are internally consistent and totals sum appropriately. There may be rounding differences when looking across tables particularly where values are aggregated to different levels. For example the SOFA repots category groups (a combination of categories) and the more detail income and expenditure reports show individual categories.

Tithe

The trustees have agreed a tithe policy such that 10% of voluntary income will be given away. Trustees will decide the tithe recipients or approve recommendations delegated to other leaders. The tithe amount for any one year will be set based on the voluntary income and associated gift aid of the previous year. This does not apply to special collections and restricted donations unless otherwise agreed.

6 Notes on Opening Balances

St Barnabas was registered as a charity on 8[th] July, 2021 and has had its own bank account since April 2022. Prior to registration as a charity and prior to having a separate bank account all STB financial transactions were processed through Emmanuel Church and have been reported in the Emmanuel Accounts as a restricted fund.

The opening balances reported on the Balance Sheet (page 8) are derived from Emmanuel balance sheet reports and Emmanuel transaction records. All Emmanuel transaction records relating to STB post registration are now copied into the STB accounting system and identifiable distinct from STB bank transactions. The opening balance on this Emmanuel Transactions account is the same as the cash balance sheet entry reported below. This account balance is ordinarily zero since all monies previously held by Emmanuel on behalf of STB have been transferred to the STB bank account. However, there continue to be some STB donations paid to Emmanuel, these residual donations still received by Emmanuel are paid over month by month and reported via the Emmanuel Transactions account in the STB accounting system.

Balance Sheet
Entry		 Value at Charity
Registration		 Details
Cash 35,353 This represents the balance of funds held by Emmanuel for STB at
the point of charity registration.
Prepayments 378 This prepayment relates to advance fees for a leadership event
that was subsequently cancelled and the STB money held as a
credit for future bookings. This credit was returned in Jan-2023.
Fixed Assets 9,312 Depreciated value of STB Fixed Assets at point of registration. See
alsoFixed Asset Register (page 14).
Accounts
Payable		 4,509 Since start up STB has accrued 10% of voluntary income as tithe
to give away. This opening balance represents the accrued tithe
up to registration.
Deferred
Income		 38,957 Unused allocation of STB start up grants to be applied to future
costs.

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7 Income Unrestricted Funds

7.1 Donations & Legacies

2022
Donations
Regular Donations 34,235
One Off Gifts 1,366
Donations Total 35,601
Gift Aid
Gift Aid 7,580
Gift Aid Total 7,580
Grand Total 43,181

7.2 Other Income

----- Start of picture text -----
2022
Grant Income
Grant Income - SDF seed funding 22,559
Grant Income - SDF Expenses 4,931
Grant Income - Fixed Assets 3,453
Grant Income Total 30,943
Grand Total 30,943
----- End of picture text -----

Notes on Grant Income:

Prior to registration STB received the following grant income to help the church get established:

“Grant Income – SDF seed funding” is from the residual SDF & Reside elements of the original grants. This is held as deferred income and released to the accounts to balance income and expenditure while giving at STB grows to match ongoing expenditure.

“Grant Income - Fixed Assets” is from the proportion of grants set aside for depreciation of fixed assets.

“Grant Income – SDF Expenses” is ongoing SDF grant funding payable against allowable expenses.

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8 Expenditure Unrestricted Funds

8.1 Charitable Activities

2022
Staffing
Employment Costs (wages, NI, pension) 34,200
Team Expenses 1,904
Training- Staff & Clergy 1,753
Staffing Total 37,857
Parish Contribution
Parish Contribution 3,464
Parish Contribution Total 3,464
Discipleship
Ad-hoc Meetups & Hospitality 1,072
Community, Mission & Outreach Events 1,593
Generous Church 1,109
Kids' Ministry 276
Midweek Groups - Leaders' Meetings/Training et 246
Socials & Welcome Events 1,819
Discipleship Total 6,115
Gatherings & Worship Costs
CCLI & Other Worship Licences 572
Hospitality at Services 475
Special Services Costs 1,023
Venue Hire 10,025
WorshipEquipment - Repairs/Consumables 1,112
Gatherings & Worship Costs Total 13,207
Giving to Others
STB Tithe Giving 4,302
DiscretionaryFund 100
Giving to Others Total 4,402
Fixed Asset Expenditure
Depreciation 3,453
Fixed Asset Expenditure Total 3,453
Grand Total 68,498

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8.2 Support Costs

----- Start of picture text -----
2022
Office & Administration Costs
Bank Charges and Payment Processor Fees 533
Insurance 497
Marketing, Design & Print 360
Payroll & Independent Exam Fees 1,020
Phone & Internet Costs 441
Software and System License costs 2,208
Office Equipment and Consumables 391
Office & Administration Costs Total 5,450
Grand Total 5,450
----- End of picture text -----

9 Restricted Funds

2022
Give to Give Away
Give to Give Away Income 2,204
Give to Give AwayExpenditure -1,339
Give to Give Away Total 865
Special Collections
Baca Hope Hub Appeal(Christmas 2022) 112
Special Collections Total 112
Grand Total 977

From time to time Give to give away collections are made at Sunday Gatherings. Income and expenditure for Give to Give away is recorded in the Restricted fund for clarity and to keep separate from unrestricted funds.

Ordinarily the net proceeds of special collections are paid over as soon as practicable. The balance of funds in the Christmas 2022 appeal was paid to the Baca Hope Hub Appeal in January 2023 and will be reported in the next period’s accounts.

10 Staff Costs

During the year the church employed the services of an Operations Manager.

The employment costs are summarised in the table on page 12.

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STB Trustees Annual Report – 08-Jul-2021 to 31-Dec-2022

11 Fixed Assets

----- Start of picture text -----
Financial Year 2021/2022
Purchase Purchase Depreciation Opening Closing
Name Depreciation
Date Value Plan Value Value
Music Equipment
13-Sep-2019 4,802 5 years 3,081 1,441 1,641
for STB
Roland Drum
Sample Pad & 01-Feb-2021 814 5 years 746 244 502
Pedal
Streaming
31-May-2021 4,727 5 years 4,569 1,418 3,151
Equipment
IPad Pro 30-May-2021 869 5 years 681 261 420
Magic Keyboard -
01-Jun-2021 299 5 years 234 90 145
for IPad Pro
Total 11,511 9,311 3,454 5,859
----- End of picture text -----

Note, trustees have agreed a policy that items purchased for less than £5,000 will be treated as revenue expense in-year and not added to the asset register. The items presently on the asset register with purchase cost less than £5,000 were acquired prior to implementing this policy. See also notes relating to Fixed Assets on page 9.

12 Fund Movement Summary

Fund Name Opening
Balance		 Income Expenditure Fund
Transfers		 Investment
Gains (or
Losses)		 Asset
Revaluation		 Closing
Balance
General 1,576 70,672 70,495 - - - 1,753
Restricted Funds - 2,316 1,339 - - - 977
Fixed Assets - 3,453 3,453 - - - -
Total 1,576 76,441 75,287 - - - 2,730

Note the fixed asset designated fund holds deferred grant income for the future depreciation costs. The income above is therefore noted as grant income to match the depreciation, and the opening and closing asset values are matched by deferred income so report as net-zero. See also notes relating to Fixed Assets fund on page 9.

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13 Creditors and Debtors

----- Start of picture text -----
2022
Debtors
Accounts Receivable (money we are owed) 360
Prepayments (money we paid in advance) 770
2022
Creditors
Accounts Payable (money we owe) 9,831
Deferred Income (money we received in advance) 12,945
----- End of picture text -----

Accounts Receivable comprise:

Prepayments comprise:

Accounts Payable comprises:

Deferred Income is grant income received and not yet drawn down. STB has adopted the policy to draw down grant income to balance in-year income and expenditure until the grant income is exhausted. Some grant income is reserved to cover future deprecation amounts on fixed assets. The residual start up grant income is likely to be spent out in the 2023 financial year.

14 Cash Account Balances

Account Name Balance 08-Jul-2021 Balance 31-Dec-2022
Emmanuel Tx fromQuickBooks 35,353 830
STB Lloyds Current Account - 17,532
Stripe - 156
Total 35,353 18,518

Stripe is the payment processor used to for card and online donations. Ordinarily the donations and received and transferred into the STB Lloyds bank account each month so the month end balance will normally be zero.

The balance on the Emmanuel transactions account represents STB donations received by Emmanuel but not yet transferred to STB.

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