Docusign Envelope ID: 8ED70879-CDDB-47B9-ACEC-5F290AFEF9E8
Registered number: Charity number: 1200580
SUNDERLAND EVANGELICAL PRESBYTERIAN CHURCH
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
Docusign Envelope ID: 8ED70879-CDDB-47B9-ACEC-5F290AFEF9E8
SUNDERLAND EVANGELICAL PRESBYTERIAN CHURCH
| CONTENTS | |
|---|---|
| Page | |
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 - 17 |
Docusign Envelope ID: 8ED70879-CDDB-47B9-ACEC-5F290AFEF9E8
SUNDERLAND EVANGELICAL PRESBYTERIAN CHURCH
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE PERIOD ENDED 31 DECEMBER 2023
| Trustees | Rev Nathan J Hilton, Chair (appointed 5 October 2022) |
|---|---|
| Darren L Moore, Trustee (appointed 15 December 2023) | |
| Dr Christopher Richards, Trustee (appointed 5 October 2022) |
Charity registered number 1200580 Registered office 10 North Grove Roker Sunderland SR6 9PJ Accountants Kinnair Associates Limited Chartered Accountants Aston House Redburn Road Newcastle upon Tyne NE5 1NB
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Docusign Envelope ID: 8ED70879-CDDB-47B9-ACEC-5F290AFEF9E8
SUNDERLAND EVANGELICAL PRESBYTERIAN CHURCH
TRUSTEES' REPORT FOR THE PERIOD ENDED 31 DECEMBER 2023
The Trustees present their annual report together with the financial statements of the Charity for the period 5 October 2022 to 31 December 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Objectives and activities
The objectives of the Church are:
(a) the advancement of the Christian faith in accordance with the Basis of Faith, primarily, but not exclusively, within Sunderland and the surrounding neighbourhood; and
(b) such other charitable purposes as shall, in the opinion of the Charity Trustees, put into practice the Christian faith in accordance with the Basis of Faith, including but not limited to: the prevention and relief of need, hardship and sickness; the advancement of education; and the provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disability, financial hardship or social circumstances with the object of improving their conditions of life, provided that the advancement of such purposes must be undertaken in a manner that is consistent with the Doctrinal Distinctives and Ethical Statements as may be adopted and amended by the Church from time to time.
The objectives are fulfilled by:
-
Holding public worship services, prayer meetings, Bible studies, evangelistic meetings, community events,and fellowship meetings to promote the spiritual wellbeing of our congregation and give the opportunity for the general public to learn about the Christian faith;
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Through the visitation of the minister to offer spiritual guidance to members of the church and new attendees;
-
Through giving financial aid to those struggling within our church.
Public benefit
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Achievements and performance
Ministry has continued according to our regular patterns, led by the Minister, associate elders and other qualified members as well as visiting ministers. Ministry includes:
-
Two public worship services each Sunday;
-
Weekly prayer meeting for study, prayer, sung praise and fellowship;
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The sharing of fellowship meals within our homes and rented community space;
-
Practical support given to members in need;
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The development of social media platforms to promote the Gospel and the work of our local church;
-
The hosting of community events to serve the local people and provide an introduction to the Christian faith.
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Docusign Envelope ID: 8ED70879-CDDB-47B9-ACEC-5F290AFEF9E8
SUNDERLAND EVANGELICAL PRESBYTERIAN CHURCH
TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2023
Financial review
During the period the Charity’s total income was £222,873 (including £110,384 from the existing church) and total expenditure was £89,192.
At 31 December 2023 the Charity’s funds were £133,681 which comprised a General Fund of £121,396 and a Restricted Fund of £12,285. The restricted fund is a Building Fund, containing funds given towards a future building purchase.
The Charity’s reserves policy is to keep back £50,000 which is sufficient funds for just over six months of our annual total operating costs.
Going concern
After making appropriate enquiries, 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 adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
Structure, governance and management
Sunderland Evangelical Presbyterian Church is registered as a charitable incorporated organisation which was set up by a Trust deed dated 6 September 2022 and registered on 5 October 2022. At the date of registration the Trust took over the care of a church bank account managed by three signatories. At the time of the Trust’s formation it held £113,850.
There must be at least three Charity Trustees and there is no maximum number of Charity Trustees that may be appointed. New Trustees are appointed by a resolution passed at a properly convened meeting of the Charity Trustees. In selecting individuals for appointment as Charity Trustees, the existing Charity Trustees must have regard to the skills, knowledge and experience needed for the effective administration of the Church.
Decision making takes place at a meeting of the Charity Trustees or by resolution in writing or electronic form agreed by the requisite number of Charity Trustees.
The day-to-day activities of the Church are carried out by the Ministers and support staff and volunteers.
The Trustees who acted during the period and up to the date of this report are shown on page one of the financial statements.
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Docusign Envelope ID: 8ED70879-CDDB-47B9-ACEC-5F290AFEF9E8
SUNDERLAND EVANGELICAL PRESBYTERIAN CHURCH
TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2023
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial period. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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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 adequate accounting records that are sufficient to show and explain the Charity's transactions and 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 Companies Act 2006. They 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.
Disclosure of information to the independent examiner
So far as each Trustee at the date of approval of this report is aware:
-
there is no relevant information of which the Charity's independent examiners are unaware; and
-
• the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant information and to establish that the independent examiners are aware of that information.
Approved by order of the members of the board of Trustees on 22 October 2024 and signed on their behalf by:
Rev Nathan J Hilton Trustee
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Docusign Envelope ID: 8ED70879-CDDB-47B9-ACEC-5F290AFEF9E8
SUNDERLAND EVANGELICAL PRESBYTERIAN CHURCH
INDEPENDENT EXAMINER'S REPORT FOR THE PERIOD ENDED 31 DECEMBER 2023
Independent Examiner's Report to the Trustees of Sunderland Evangelical Presbyterian Church ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the period ended 31 December 2023.
Responsibilities and Basis of Report
As the Trustees of the Charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
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:
-
accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated: 22 October 2024 Detlev Anderson FCA
Aston House Redburn Road Newcastle upon Tyne NE5 1NB
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Docusign Envelope ID: 8ED70879-CDDB-47B9-ACEC-5F290AFEF9E8
SUNDERLAND EVANGELICAL PRESBYTERIAN CHURCH
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE PERIOD ENDED 31 DECEMBER 2023
| Note Income from: Donations and legacies 3 Total income Expenditure on: Charitable activities 4 Total expenditure Net movement in funds Reconciliation of funds: Net movement in funds Total funds carried forward |
Unrestricted funds 15 months ended 31 December 2023 £ 210,588 210,588 89,192 89,192 121,396 121,396 121,396 |
Restricted funds 15 months ended 31 December 2023 £ 12,285 12,285 - - 12,285 12,285 12,285 |
Total funds 15 months ended 31 December 2023 £ 222,873 |
|---|---|---|---|
| 222,873 | |||
| 89,192 | |||
| 89,192 | |||
| 133,681 | |||
| 133,681 | |||
| 133,681 |
The Statement of Financial Activities includes all gains and losses recognised in the period.
The notes on pages 8 to 17 form part of these financial statements.
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Docusign Envelope ID: 8ED70879-CDDB-47B9-ACEC-5F290AFEF9E8
SUNDERLAND EVANGELICAL PRESBYTERIAN CHURCH REGISTERED NUMBER:
BALANCE SHEET AS AT 31 DECEMBER 2023
| Note Fixed assets Tangible assets 9 Current assets Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets Charity funds Restricted funds 12 Unrestricted funds 12 Total funds |
150,860 150,860 (20,079) |
2023 £ 2,900 |
|---|---|---|
| 2,900 130,781 |
||
| 133,681 | ||
| 133,681 | ||
| 133,681 | ||
| 12,285 121,396 |
||
| 133,681 |
The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the period in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on 22 October 2024 and signed on their behalf by:
Rev Nathan J Hilton
The notes on pages 8 to 17 form part of these financial statements.
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Docusign Envelope ID: 8ED70879-CDDB-47B9-ACEC-5F290AFEF9E8
SUNDERLAND EVANGELICAL PRESBYTERIAN CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023
1. General information
Sunderland Evangelical Presbyterian Church is a Charitable Incorporated Organisation governed by a constitution dated 6 September 2022. The charity is registered in England and Wales (charity number 1200580). The principal address is 10 North Grove, Roker, Sunderland, SR6 9PJ.
Reporting period
The accounts show the results for the 15 month period from 5 October 2022 to 31 December 2023. A new Charitable Incorporated Organisation was formed on 5 October 2022 and a transfer of funds was made from the existing Church to the new CIO on this date.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the church's Constitution, the Charities Act 2011 and the Charities SORP (FRS 102) - 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).
Sunderland Evangelical Presbyterian Church meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.
The following principal accounting policies have been applied:
2.2 Going concern
The Trustees assess whether the use of the going concern basis is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Trust to continue as a going concern. The Trustees make this assessment in respect of a period one year from the date of authorisation of issue of the financial statements and have concluded that the Trust has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Trust's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Cash donations are recognised on receipt. Other gifts and donations are recognised on an accruals basis where it can be assured with reasonable certainty and is receivable by the balance sheet date.
Income tax recoverable on Gift Aid donations is not recognised until such claims that are made have been approved by HMRC and the amount receivable can be quantified with reasonable certainty.
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Docusign Envelope ID: 8ED70879-CDDB-47B9-ACEC-5F290AFEF9E8
SUNDERLAND EVANGELICAL PRESBYTERIAN CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023
2. Accounting policies (continued)
2.4 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 on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.5 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.
2.6 Tangible fixed assets and depreciation
Tangible fixed assets costing more than £1,000 are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
At each reporting date the Charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
Plant and machinery - 3% to 33%
2.7 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
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Docusign Envelope ID: 8ED70879-CDDB-47B9-ACEC-5F290AFEF9E8
SUNDERLAND EVANGELICAL PRESBYTERIAN CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023
2. Accounting policies (continued)
2.8 Liabilities and provisions
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.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
2.9 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.10 Pensions
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the period.
2.11 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
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Docusign Envelope ID: 8ED70879-CDDB-47B9-ACEC-5F290AFEF9E8
SUNDERLAND EVANGELICAL PRESBYTERIAN CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023
3. Income from donations and legacies
| Unrestricted funds 15 months ended 31 December 2023 Restricted funds 15 months ended 31 December 2023 £ £ Donations Donations (stewardship) 15,101 - Donation (non-plate) 3,912 - Donation (plate) 4,868 - Gifts 85,608 - Donations in kind 3,000 - Donation from existing organisation 98,099 12,285 Subtotal detailed disclosure 210,588 12,285 210,588 12,285 Analysis of expenditure on charitable activities Summary by fund type Unrestricted funds 15 months ended 31 December 2023 £ Charitable activities 89,192 |
Total funds 15 months ended 31 December 2023 £ 15,101 3,912 4,868 85,608 3,000 110,384 |
|---|---|
| 222,873 | |
| 222,873 | |
| Total 15 months ended 31 December 2023 £ 89,192 |
4. Analysis of expenditure on charitable activities Summary by fund type
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Docusign Envelope ID: 8ED70879-CDDB-47B9-ACEC-5F290AFEF9E8
SUNDERLAND EVANGELICAL PRESBYTERIAN CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023
5. Analysis of expenditure by activities
| Activities | |||
|---|---|---|---|
| undertaken | Support | Total | |
| directly | costs | funds | |
| 15 months | 15 months | 15 months | |
| ended | ended | ended | |
| 31 | 31 | 31 | |
| December | December | December | |
| 2023 | 2023 | 2023 | |
| £ | £ | £ | |
| Church activities | 85,584 | 3,608 | 89,192 |
Analysis of direct costs
| Staff costs Books Church Fellowship Deacon costs Honorarium Materials and supplies Minister travel and expenses Rent and utilities |
Total funds 15 months ended 31 December 2023 £ 73,372 310 832 510 2,220 727 2,888 4,725 |
|---|---|
| 85,584 |
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Docusign Envelope ID: 8ED70879-CDDB-47B9-ACEC-5F290AFEF9E8
SUNDERLAND EVANGELICAL PRESBYTERIAN CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023
5. Analysis of expenditure by activities (continued)
Analysis of support costs
| Depreciation Administration and office costs Advertising 6. Independent examiner's remuneration Fees payable to the Charity's independent examiner for the independent examination of the Charity's annual accounts 7. Staff costs Wages and salaries Social security costs Contribution to defined contribution pension schemes |
Total funds 15 months ended 31 December 2023 £ 100 2,604 904 |
|---|---|
| 3,608 | |
| 15 months ended 31 December 2023 £ 1,250 |
|
| 15 months ended 31 December 2023 £ 64,734 2,818 5,820 |
|
| 73,372 |
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Docusign Envelope ID: 8ED70879-CDDB-47B9-ACEC-5F290AFEF9E8
SUNDERLAND EVANGELICAL PRESBYTERIAN CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023
7. Staff costs (continued)
The average number of persons employed by the Charity during the period was as follows:
| 15 months | |
|---|---|
| ended | |
| 31 | |
| December | |
| 2023 | |
| No. | |
| Employees | 3 |
No employee received remuneration amounting to more than £60,000 in a 12 month period.
8. Trustees' remuneration and expenses
During the period, one Trustee has been paid remuneration, or has received other benefits, from employment with the Charity. Such remuneration is permitted by the Church constitution as an employee of the Church under a contract of employment, or a paid office holder of the Church. The value of Trustee's remuneration and other benefits was as follows:
| 15 months | ||
|---|---|---|
| ended | ||
| 31 | ||
| December | ||
| 2023 | ||
| £ | ||
| Rev Nathan J Hilton | Remuneration | 58,200 |
| Pension contributions paid | 5,820 |
During the period ended 31 December 2023, expenses totalling £3,735 were reimbursed or paid directly to one Trustee. The expenditure was for reimbursement of expenses incurred carrying out duties of the Church as Minister.
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SUNDERLAND EVANGELICAL PRESBYTERIAN CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023
9. Tangible fixed assets
| Cost or valuation Additions At 31 December 2023 Depreciation Charge for the period At 31 December 2023 Net book value At 31 December 2023 |
Plant and machinery £ 3,000 |
|---|---|
| 3,000 | |
| 100 | |
| 100 | |
| 2,900 |
10. Creditors: Amounts falling due within one year
| Other taxation and social security Pension fund loan payable Accruals and deferred income |
2023 £ 2,737 523 16,819 20,079 |
|---|---|
11. Financial instruments
| 2023 | |
|---|---|
| £ | |
| Financial assets | |
| Financial assets measured at fair value through income and expenditure | 150,860 |
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Docusign Envelope ID: 8ED70879-CDDB-47B9-ACEC-5F290AFEF9E8
SUNDERLAND EVANGELICAL PRESBYTERIAN CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023
12. Statement of funds
Statement of funds - current period
| Unrestricted funds General Funds - all funds Restricted funds Restricted Funds - all funds Total of funds The restricted funds comprise the following: |
Income £ Expenditure £ 210,588 (89,192) 12,285 - 222,873 (89,192) |
Balance at 31 December 2023 £ 121,396 |
|---|---|---|
| 12,285 | ||
| 133,681 | ||
Building Fund - donations received for the acquisition of a building to use for church activities.
13. Summary of funds
Summary of funds - current period
| General funds Restricted funds |
Income £ Expenditure £ 210,588 (89,192) 12,285 - 222,873 (89,192) |
Balance at 31 December 2023 £ 121,396 12,285 |
|---|---|---|
| 133,681 |
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Docusign Envelope ID: 8ED70879-CDDB-47B9-ACEC-5F290AFEF9E8
SUNDERLAND EVANGELICAL PRESBYTERIAN CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023
14. Analysis of net assets between funds
Analysis of net assets between funds - current period
| Unrestricted funds 2023 £ Tangible fixed assets 2,900 Current assets 138,575 Creditors due within one year (20,079) Total 121,396 |
Restricted funds 2023 £ - 12,285 - 12,285 |
Total funds 2023 £ 2,900 150,860 (20,079) 133,681 |
|---|---|---|
15. Pension commitments
The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £5,820 for the period. At the balance sheet date £522 was payable to the fund and included in creditors.
16. Related party transactions
During the period, Mr K Hilton, father of a Trustee, received remuneration from employment with the Charity, commensurate with the administration duties performed for the Church.
17. Donations in kind
During the period the Church received an upright piano as a gift, to be used in church services. The Trustees value the donated tangible fixed asset at £3,000 at the time of the gift and the equivalent amount is included as a donation in kind in the Statement of Financial Activities.
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