2022-12-31-accounts - Potter Street Baptist Church

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Charity regls(ry&ti¢bTh nurnbtr lJ96365 POTTER STREET BAPTIST CHURCII ANP4UAL REPORT AND UNAUDITED FINANCIAL SIATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

Trustees			Rew A.M. Taylor -	Rew A.M. Taylor -	Minister
			M.H. Hoilutgsworth
			C.J.Rowe
			M.J.Gardner	-Treasurer
			B.Carroll
			C.N. Rowe
			S.J.Mitchell
			P.M. Jenkins	—Secretary
			P.G. Channell
			A.L.Bellworthy
			M.J.Tew
			D.H. Thomas
Charity number			1196365
Principal	address		Potter Street Baptist		Church
			98Potter Street
			Chapel Lane
			Harlow
			Essex
			CM17 9AW
Independent		examiner	HBAccountauts
			Phunpton House
			Plumpton Road
			Hoddesdon
			Hertfordshire
			EN11 OLB
Bankers			Barclays Bank	pic
			14The Water Gardens		Shopping Centre
			Harlow
			Essex
			CM20 1AN

				Page
Trustees' report				1-3
Independent	examiner's		report
Statement of	financial		activities
Balance sheet
Notes tothe financial		statements		7-15

Current ilna	ncial year
			Unrestricted	Restricted	Total
			funds	funds
			2022	Z022	2022
		Notes
Income from:
Donations snd legacies Charitable activities			98,668	5,326	103,994
Other tmding Investments	activities		20,657 4,246		20,657 4,246
			474		474
Total income
X~i			124,045	5,326	129,371
Charitable activities			114,130	3,602	117,732
Net incoming	resources before transfers		9,915	1,724	11,639
Transfer offunds at the start ofthe charity			2,922,904		2&922,904
Net movement	in funds		2,932,819	1,724	2,934,543
Fund balances	at 1 January 2022
Fund balances	at311tecember Z022		2,932,819	1,724	2,934,543


		Notes
Fixed assets
Tangible assets		12		2,872,315
Current assets
Debtors
Cash atbank and inhand		13	7,051
			61,370
Creditors. ' amounts	falling due udthiu one year	14	68,421 (6,193)
Net current assets
				62,228
Total assets less current liabilities
				2,934,543
Income funds
Restricted funds Unrestricted funds		15		1,724
Designated funds
General unrestricted	funds		2,872,315
			60,504
				2,932,819
				2,934,543

I	Accounting policies (continued)
1.5	Expenditure
	Expendi hue is recognised once there is alegal or conshuctive obligation to transfer economic benefit toa third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount oftire obligation can be measured reliably.
	Expenditure is classified by activity. The costs ofeach activity are made up ofthe total ofdirect costs and shared costs, including support costs involved in undertakiug 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 ofresources. Central staff costs are allocated on the basis oftime spent, and depreciation charges are allocated on the portion ofthe asset's use.
1.6	Tangible fixed assets
	Tangible fixed assets are initially measured at cost and subsequently messmed at cost or valuation, net ofdepreciation and any impainnentlosses.
	Depreciation is recognised so as to write offthe cost orvaluation ofassets less their residual values over their useful lives on the followiug bases:
	Freehold buildings 0%
	The gain or loss arising on the disposal ofan asset is deteuuined as the difference between the sale proceeds and the carrying value ofthe asset, and is recognised in the statement offinancial activities.
	The freehold buildings have been valued by the trustees based on the insumnce value.
I.V	Impairment offixed assets
	At each reporting end date, the church reviews the csrryiug amounts ofits tangible assets to deteunine whether there is any indication that those assets have suffered an impaument loss.Ifany such indication exists, the recoverable amount of the asset is estimated in order to determine the extent ofthe impairment loss (ifany).
1.8	Cash and cash equivalents
	Cash and cash equivaleuts include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities ofthree months or less, and bank overdrafis. Bank overdrafis are shown within bonowings in cument liabilities.
1,9	Financial instruments
	The church has elected to apply the provisions of Section ll 'Basic Financial lustruments' and Section 12 'Other Financial Instruments Issues' ofFRS 102to all ofits financial iustnunents.
	Financial instnuuents are recognised in the church's balance sheet when the church becomes party to the contractual provisions ofthe instrumeut.
	Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set offthe recognised amounts and there is an intention to settle on anet basis or to realise the asset aud settle the liability simultaneously.
	Basic1inanciai assets
	Basic financial assets, which include debtors and cash and bank balances, are uutially measured at transaction price including transaction costs and are subsequently canied 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 amarket rate ofinterest. Financial assets classified as receivable within one year are not amortised.

	Unrestricted	Restricted	Totat
	funds	funds
	2022	2022
Donatious and gifts Gift Aid tax Grants receivable	83,209 l4,484 975	4,826 500	88,035 14,984 975
	98,668	5,326	103,994

4	Charitable activities
			2022
	Church Organisations	income	20,657
S	Other trading activities
			2022
	Hall lettings		4,246
6	Investments
	Interest receivable		474

7	Charitable activities
					2022
	Stat'f costs
	Rent and council tax				53,501
	Light, heat and water Insurance				9,077 5,812
	Cleaning and gardening Repairs and maintenance Telecomms and computer Travel		expenses		1,819 821 11,185 1,915
	Church Orgsuisations expenses Youth and children's work Music and audio-visual				3,954 14,200 202
	printing, postage and stationery Sundry expenses				1,866 555 1,790
					106,697
	Graut funding ofactivities Share ofgovernance costs		(see (see	note 8) note 9)	9,235 1,800
					117,732
	Analysis by fund
	Unrestricted funds
	Restricted funds				114,130
					3,602
					117,732
8	Grants payable
					2022
	Grants to mstituttons:
	DEC I)kraine Humanitarian Harlow Food Bank		Appeal		1,624
	Baptist World Mission Baptist Home Mission StClare's Hospice Marie Curie				260 3.034 3,000 512
	University ofHerts Student RIB		Union		235 100
	The Living God Baptist	Church,		India	70 70
					8,905
	Grants to individuals
					330
					9,235

Accountancy	Accountancy
Analysed	between
Charitable	activities

costs	Governance	2022
	costs
g
	1,800	1,800
	1,800	1,800
	1,800	1,800

Employment	costs
tVages and salaries
Other pension	costs	43,741
		9,760
		53,501

			Movement	in funds
			Incoming	Resources	Bslaoce at
			resonrces	espeaded	31December
					2022
DEC Ukraine Humanitarian Harlow Food Bank	Appeal		1,624	(1,624)
BMS World Mission			1,540	(260)	1,280
London Hearts for Conuntluity StClare's Hospice Marie Curie			34 787 956	(34) (787) (512)
RNIB			235	(235)
The Living God Baptist Church, Other		India	70 70	(70) (70)
			10	(10)
			5,326	(3,602)	1,724

				Movement in
				funds
			Balance at IJanuary 2022	Incoming resources	Balance at 31December
					2022
Lmtd and buildings			2,872&315		2,872,315
			2.872,315		2,872,315
Analysis ofnet assets between	funds
			Unrestricted	Resttdcted
			funds	funds
			2022	2022
Fund balauces at 31Deccluber Tangible assets	2022 are represented	by:	g	g
Cmrent assets/(fiabilities)			2,872,315 60,504	1,724	2,872,315 62,228
			2,932,819	1,724	2,934,543