2023-12-31-accounts - Church On The Way

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		Page
Repon ofthe Trustees		to	3
Independent Examiner's Repott		4
Statement ofFinancial Activities		5
Balance Sheet	6		7
Notes to the Financial Statements	8	to	13
Detailed Statement ofFinancial Activities	14	to	15

				31.12.23	31.12.22
		Unrestricted	Restricted	Total	Total
		fund	fund	funds	funds
	Notes
FIXED ASSETS
Tangibleassets	7			1,413,873	1,415,577
CURRENT ASSETS
Stocks	8	900		900	900
Debtors	9	I ,OOO		1,ooo	5,600
Cash at bank		38,705	1,149	39,854	43,458
		40,605	1,149	41,754	49,958
CREDITORS
Amountsfalling due within one year	10	(27,103)		(27,103)	(27,627)
NET CURRENT ASSETS		13,502	1,149	14,651	22,33 1
TOTAL ASSETSLESS CURRENT
LIABILITIES			1,149	1,428.524	1,437,908
CREDITORS
Amountsfalling due after more than one year	11	(509,060 )		(509,060 )	(528,931 )
NET ASSETS		918,315	1.149	919,464	908,977
FUNDS	13
Unrestricted funds				918,315	907,807
Restricted funds				1,149	1,170
TOTAL FUNDS				9 19,464	908,977

				Period
				26.10.21
			Year Ended	to
			31.12.23	31.12.22
	Bookshopincome		7,746	8,306
3.	NET INCOME/(EXPENDITURE)
	Net income/(expenditure)	is stated aftercharging/(crediting):
				Period
				26.10.21
			Year Ended	to
			31.12.23	31.12.22
	Depreciation - owned assets		3,855	3,425
4.	TRUSTEES' REMUNERATIONAND BENEFITS
	There were no trustees' remuneration or other benefits for the year ended 31		December 2023.
	Trustees' expenses
	There were no trustees' expenses paid for the year ended 31 December 2023.
5.	STAFFCOSTS

							Period
							26.10.21
						Year Ended	to
						31.12.23	31.12.22
	Pastor
	No employees received emoluments			in excess ofE60,OOO.
6.	COMPARATIVES		FOR THE STATEMENT OF FINANCIAL		ACTIVITIES
					Unrestricted	Restricted	Total
					fund	fund	funds
	INCOME AND	ENDOWMENTS		FROM
	Donations and legacies				101,164	44,152	145,316
	Other tradingactivities				8,306		8,306
	Other income				8,221		8,221
	Total				1 17,691	44, 152	161,843
	EXPENDITURE	ON
	Raising funds				3,485		3,485

6.	COMPARATIVESFOR TIIE STATEMENTOF	FINANCIAL	ACTIVITIES	continued
			Unrestricted	Restricted	Total
			fund	fund	funds
	Charitableactivities
	Donations		2,850	42,982	45,832
	Premises costs		26,393		26,393
	Othercosts		2,256		2,256
	Staffcosts		29,511		29,511
	Administration costs		6,003		6,003
	Finance costs		25,950		25,950
	Other		3,425		3,425
	Total		99,873	42,982	142,855
	NET INCOME		17,818	1,170	18,988
	RECONCILIATIONOF FUNDS
	Total funds brought forward		889,989		889,989
	TOTAL FUNDS CARRIED FORWARD		907,807	1,170	908,977
7.	TANGIBLE FIXED ASSETS
		Freehold	Plant and	Office
		propeny	machinery'	equipment	Totals
	COST
	At I January 2023		32,550	852	1,433,402
	Additions			2,151	2,151
	At 31 December 2023		32,550	3.003	I .435.553
	DEPRECIATION
	At I January 2023		17,655	170	17,825
	Charge for year		3,255	600	3,855
	At 31 December 2023		20,910	770	21.680
	NET BOOK VALUE
	At 31 December2023		1 1,640	2,233	1,413,873
	At 31 December2022		14,895	682

8.	STOCKS
		31.12.23	31.12.22
	Stocks	900	900
9.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		31.12.23	31.12.22
	Prepayments	1,000	5,600
10.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		31.12.23	31.12.22
	Bank loans and overdrafts (see note 12)	20,045	20,045
	Social security and other taxes	I,430	620
	Othercreditors	141	2,463
	Accruals and deferred income	5,487	4,499
		27,103	27,627
11.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
		31.12.23	31.12.22
	Bank loans (see note 12)	509,060	528,931
12.	LOANS
	An analysis ofthe maturity ofloans is given below:
		31.12.23	31.12.22
	Amounts falling due within one year on demand:
	Bank loans	20,045	20,045
	Amountsfalling between one and two years:
	Bank loans - 1-2 years	20,045	20,045
	Amountsfalling due between two and five years:
	Bank loans - 2-5 years	60,132	60,132
	Amountsfalling due in more than five years:
	Repayable by instalments:
	Bank loans more 5 yr by instal	428,883	448,754

MOVEMENT IN FUNDS
		Net
		movement
	At 1.1.23	in funds	31.12.23
Unrestricted funds
General fund	907,807	10,508	918,315
Restricted funds
General Restricted	1,170	(21)	1,149
TOTAL FUNDS	908,977	10,487	9 19,464
Net movement in funds, included in the above are as follows:
	Incoming	Resources	Movement
	resources	expended	in funds
Unrestricted funds
General fund	120,073	(109,565)	10,508
Restricted funds
General Restricted	15,586	(15,607)	(21)
TOTAL FUNDS	135,659	(125,172)	10,487
Comparatives for movement in funds
		Net
		movement
	26.10.21	in funds	31.12.22
Unrestricted funds
General fund	889,989	17,818	907,807
Restricted funds
General Restricted		1,170	1,170
TOTAL FUNDS	889,989	18,988	908,977

Detailed Statement ofFinancial Activities for the Year Ended 31 December2023
		Period
		26.10.2
	Year Ended	to
	31.12.23	31.12.22
INCOME AND ENDOWMENTS
Donations and legacies
Tithes andofferings	97,769	124,022
Donations	4,000	6,600
Gift aid	13,432	14,694
	115,201	145,316
Other trading activities
Bookshop income	7,746	8,306
Other income
Room hire	12,712	8,221
Total incoming resources	135,659	161,843
EXPENDITURE
Other trading activities
Bookshop purchases	4,798	3,485
Charitable activities
Wages	31,986	28,700
Pensions	726	811
Rates and water	1,331	3,127
Insurance	4,263	3,944
Light and heat	14,038	13,721
Telephone	1,134	751
Postage and stationery	I ,042	905
Sundries	10
Gifts and donations	17,512	45,832
Cleaning	843	665
Legal and professional fees		3,358
Repairs and renewals	7,032	4,936
Speaker costs	I,040	620
Children's ministry	185	I,394
Catering costs	2,259	242
Licences and permits	843
Computercosts	247	85
Website costs	125	100
Tithe allocations	10,787
Staff training	150
	95,553	109,995

Detailed Statement ofFinancial Activities for the Year Ended 3 1 December2023
		Period
			26.10.2
	Year Ended	to
	31.12.23	31.12.22
Support costs
Finance
Bank charges		4,598
Bank interest		2
Bank loan interest	20,966	21,350
	20,966	25,950
Other
Plant and machinery	3,855	3,425
Total resources expended	125,172	142,855
Net income	10,487	18,988