2024
Welcome everyone to the Eternity Downham AGM and thank you for joining us. What a great year we have had for change and growth, we have seen many new faces and even some returning faces so thank you everyone for your continued faithful prayer and support throughout the year. With expectant hearts, we look forward to everything God has in store for us in 2024 and sharing in that with you. There continues to be a lot of uncertainty and strife in the world so we encourage you to pray for Downham Market that people can find comfort, peace and strength in Jesus and Eternity can be a place of love, fellowship and respite for all.
many. We ask that you pray for guidance and abundance for this place that it may be a blessing to Downham Market.
Over the last year we have had many successful outreach events, another reason to praise the Lord for his abundant blessing. We hosted the indoor inflatable family fun day which saw many families in the church who have shown continued interest in future events and the Christmas celebration service which was exceedingly fun, festive and full of joy for Jesus. We were also blessed to see three baptised into the family God, what an honour and blessing it is that we can celebrate this awesome moment in their lives. We would like to continue our focus on engaging and encouraging each other and all those yet to know to Lord.
God is good and he has done so much for Eternity; the foodbank now have Tammy on board to drive and elevate the good work there, we have been blessed with Ruth and Stan championing the Christians Against Poverty course and we have brand new carpet tiles. Please continue to pray for the Foodbank, CAP and the facility that it can be made known and reached by all those in need.
With all the plans for the church and garden known and those yet to be revealed in 2024 it’s important to recognise the gifts and talents of everyone, to raise up and support them and nurture these skills to bless
The Charity Registration Number is :- 1202187
Eternity Downham Market
Report and Accounts
30 September 2023
## **Eternity Downham Market**
## **Report and accounts for the period ended 30 September 2023**
## **Contents**
||**Page**||
|---|---|---|
|**Charity information**||1|
|**Trustees' Annual Report**||1|
|**Statement of directors' responsibilities**||5|
|**Independent Accountant's Report**||6|
|**_Funds Statements:-_**|||
|Statement of Financial Activities||8|
|Movements in funds||9|
|Revenue Funds||9|
|Fixed Asset funds||9|
|Income and Expenditure account||10|
|Summary of funds||9|
|**Balance sheet**||11|
|**Notes to the accounts**||12|
## **Eternity Downham Market**
## **Trustees' Annual Report for the period from 6 March 2023 to 30 September 2023**
The Trustees present their Report and Accounts for the period ended 30 September 2023.
## **Reference and administrative details**
## _**The charity name.**_
The legal name of the charity is:- Eternity Downham Market.
## _**The charity's areas operation and UK charitable registration.**_
The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1202187.
The charity does not operate in any overseas jurisdictions.
## _**Legal structure of the charity**_
The charity is constituted as a Charitable Incorporated Organisation (CIO) in England & Wales. The governing document of the charity is the constitution of the CIO as approved by the Charity Commission in England & Wales (CCEW) .
The governing document is dated 06 March 2023 There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law.
The trustees are all individuals.
## **The principal operating address, telephone number, email and web addresses of the charity are:-**
Sovereign Centre
Trafalgar Industrial Estate, Sovereign Way Downham Market, PE38 9SW Telephone 1366384474
Email Address office@eternitydownham.co.uk Web address www.eternitydownham.co.uk
## **The Trustees in office on the date the report was approved were:-**
Nicholas David Butt (appointed 6 March 2023) William John Clere (appointed 6 March 2023)
Aaron StJohn (appointed 6 March 2023)
## **The following persons served as Trustees during the period ended 30 September 2023 :-**
The trustees who served as a trustee in the reporting period were as shown above, and there were no changes during the year, or in the period between the year end and the approval of the accounts.
1
## **Eternity Downham Market**
## **Trustees' Annual Report for the period from 6 March 2023 to 30 September 2023**
## **Objects and activities of the charity**
## _**The purposes of the charity as set out in its governing document.**_
The objects of the church are for the benefit of the public:
A) to advance the Christian faith in accordance with the statement in such ways and in such parts of the United Kingdom or the world as the church council from time to time may think fit;
B) to relieve sickness and financial hardship and to promote and preserve good health by the provision of funds, goods or services of any kind including through the provision of counselling and support in such parts of the United Kingdom or the world as the church council from time to time think fit; and
C) to advance education in such ways and in such parts of the United Kingdom or the world as the church council from time to time may think fit.
## _**The main activities undertaken in relation to those purposes during the period.**_
Holding regular meetings and seperate men's and women's ministries.
Promoting worship, prayer and teaching and developing the use of the hall for charitable purposes.
The church successfully runs the local foodbank.
## _**The main activities undertaken during the period to further the charity's purpose**_
## _**for the public benefit.**_
The charity brings the support of a church to those of the public who wish for it. It also supports other charitable institutions with grants.
The main asset of the charity, the hall, is available for use by the local community.
It also administrates the food bank facility for the Downham Market area.
The trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity.
## **The main achievements and performance of the charity during the period.**
The church has maintained its congregation and its ministries and has successfully run the foodbank
2
## **Eternity Downham Market**
## **Trustees' Annual Report for the period from 6 March 2023 to 30 September 2023**
## _**The difference the charity's performance during the period has made to the beneficiaries of the charity.**_
The charity has provided the beneficiaries with spiritual and emotional support and in the case of the foodbank nourishment.
## _**The degree to which the achievements and performance during the period have benefited wider society.**_
The church benefits wider society by providing the foodbank for the local area and also hiring out its hall.
## **Structure, governance and management of the charity**
## _**The methods used to recruit and appoint new charity trustees.**_
Trustees are recruited from the congregation.
|Bankers|Barclays Bank Plc. King's Lynn, Norfolk|
|---|---|
|Solicitors
Accountants|Russen and Turner. 17 High Street, King's Lynn, Norfolk
The Business Clinic Ltd, 12 St John's Way, St John's Business Estate,
Downham Market, Norfolk|
Accountants **Financial review**
## _**The charity's financial position at the end of the period ended 30 September 2023**_
The financial position of the charity at 30 September 2023 as more fully detailed in the accounts, can be summarised as follows:-
|Designated Fixed Asset Funds
**_Total Unrestricted Funds_**
Restricted Revenue Funds
**Total Funds**
Unrestricted Revenue Funds available for the
general purposes of the charity
**Net income**|**2023**
**2023**
**£**
**£**
858,725
-
480,699
-
286,314
-
**767,013**
**-**
91,714
-
858,727
-|
|---|---|
3
## **Eternity Downham Market**
## **Trustees' Annual Report for the period from 6 March 2023 to 30 September 2023**
## _**Financial review of the position at the reporting date, 30 September 2023 .**_
the trustees consider the financial performance by the charity during the year to have been satisfactory.
## _**Policies on reserves.**_
The charity aims to maintain a minimum general reserve of at least £10,000 over the value of nonliquid assets as this is considered adequate for day to day transactions.
## _**Availability and adequacy of assets of each of the funds**_
The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund.
## **Other information about the charity and its activities**
The charity began its ministrations once formed in March of 2023 using the facilities of the charity 1081414 Eternity Downham Market (formerly Downham Christian Fellowship).
On 5 August 2024 the funds of the Charity Eternity were transferred over to the charity.
In effect the charity is the incorporation of the former charity Eternity Downham Market.
## **Details of The Independent Examiner**
M Rawlinson
Member of Chartered Certified Accountants
First Floor, 12 St John's Way St John's Business Estate
Downham Market Norfolk PE38 0QQ
4
## **Eternity Downham Market**
## **Trustees' Annual Report for the period from 6 March 2023 to 30 September 2023**
## **Statement of Trustees' Responsibilities**
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), .
In particular, charity law requires the Trustees, if they prepare accounts on an accruals basis, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Trustees are required to :-
- to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
- select suitable accounting policies and apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business;
- state whether applicable accounting standards and statements of
- recommended practice have been followed, subject to any material
- departures disclosed and explained in the financial statements;
The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.
The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with regulations made under the Charities Act 2011. 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.
The Trustees are also responsible for the contents of the Trustees' report, and the statutory responsibility of the Independent Examiner in relation to the Trustees' report is limited to examining the report and ensuring that , on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements.
This report was approved by the board of trustees on Date:_______________________
______________________
WJ Clere Trustee
5
## **Eternity Downham Market**
## **Report of the Independent Examiner to the Trustees of the charity on the accounts for the period ended 30 September 2023**
I report to the Trustees on my examination of the financial statements of the charity on pages 8 to 21 for the period ended 30 September 2023 which have been prepared in accordance with the Charities Act 2011 (the Act) and with the Financial Reporting Standard 102, (effective 1st January 2016) as modified by FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , and under the historical cost convention and the accounting policies set out on page 12.
## **Respective responsibilities of the Trustees and the Independent Examiner and the basis of the report**
As described on page 5, you, the charity's Trustees, are responsible for the preparation of the financial statements in accordance with the Charities Act 2011 and all other applicable law and with United Kingdom Generally Accepted Accounting Practice, applicable to smaller entities, and for being satisfied that the financial statements give a true and fair view.
The Trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the Governing Document for the conducting of an audit. As a consequence, the Trustees have elected that the financial statements be subject to independent examination.
Having satisfied myself that the financial statements are not required to be audited under any legal provision, or otherwise, and are eligible for independent examination, it is my responsibility to:-
a) examine the financial statements of the charity under Section 145 of the Act;
b) follow the applicable procedures in the Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Basis of Independent Examiner's Statement and scope of work undertaken**
I report in respect of my examination of the charity's financial statements carried out under s145 of the Act. 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 setting out the duties of an independent examiner in relation to the conducting of an independent examination. An independent examination includes a review of the accounting records kept by the charity and of the accounting systems employed by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you, as Trustees, concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of charity legislation and that, on a test basis of evidence relevant to the amounts and disclosures made, the financial statements comply with the SORP.
The procedures undertaken do not provide all the evidence that would be required in an audit, and information supplied by the Trustees in the course of the examination is not subjected to audit tests or enquiries and does not cover all the matters that an auditor would consider in arriving at an opinion. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide
Consequently, I do not express an audit opinion on the view given by the financial statements, and in particular, I express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below.
I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report I obtained written assurances from the Trustees of all material matters.
6
## **Eternity Downham Market**
## **Independent Examiner's Statement, Report and Opinion**
This was the charities first year and although it was an existing charity that incorporated, there were two major events that had an impact on the bookkeeping. Firstly the bookkeeper changed and secondly the record keeping was shifted from a manual system to a computer system. This caused there were various misunderstanding etc. Most of the problems arising were overcome but unfortunately the vouchers and receipts had gone astray. There were copies of many on the system but the original paperwork was missing. As much of it as could be found were passed over but there were significant parts missing.
Subject to the limitations upon the scope of my work as detailed above, I have completed my examination: and can confirm that:-
This is a report in respect of an examination carried out under 145 of the Act and in accordance with Directions given by the Charity Commission under section 145(5)(b) of the Act which may be applicable;
and that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:-
accounting records were not kept in respect of the charity as required by with Section 130 of The Charities Act 2011;
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable 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;
have not been prepared in accordance with the methods and principles set out in the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP).
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 financial statements to be reached.
## **Signed:-**
M Rawlinson - Independent Examiner Chartered Certified Accountants First Floor, 12 St John's Way St John's Business Estate Downham Market Norfolk PE38 0QQ
This report was signed on Date:______________
7
## **Eternity Downham Market - Statement of Financial Activities for the period ended 30 September 2023**
## _**Statement of Financial Activities for the period ended 30 September 2023**_
|**Current year**
**Unrestricted**
**Funds**
**2023**
**£**
**Income & Endowments from:**
Donations & Legacies
A1
33,969
Other trading activities
A3
1,671
Investments
A4
-
**Total income**
**A**
**35,640**
**Expenditure on:**
Charitable activities
B2
38,450
**Total expenditure**
**B**
**38,450**
**Net income for the year**
**(2,810)**
**Transfers between funds**
**C**
769,821
**Net income after transfers**
**A-B-C**
**767,011**
**767,011**
**Reconciliation of funds:-**
**E**
**Total funds carried forward**
**767,011**
**SORP**
**Ref**
**Net movement in funds**|**Current year**
**Restricted**
**Funds**
**2023**
**£**
24,413
-
-
**24,413**
6,992
**6,992**
**17,421**
74,293
**91,714**
**91,714**
**91,714**|**Current year**
**Total Funds**
**2023**
**£**
**58,382**
**1,671**
**-**
**60,053**
**45,442**
**45,442**
**14,611**
**844,114**
**858,725**
**858,725**
**858,725**|
|---|---|---|
The 'SORP Ref' indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet.
A separate Statement of Total Recognised Gains and Losses is not required as this statement includes all recognised gains and losses.
All the prior year transactions were unrestricted items, and no further analysis is required
All activities derive from continuing operations
**The notes attached on pages 12 to 21 form an integral part of these accounts.**
**The notes attached on pages 12 to 21 form an integral part of these accounts.**
8
## **Eternity Downham Market - Statement of Financial Activities for the period ended 30 September 2023**
## **Eternity Downham Market - Resources applied in the period ended 30 September 2023 towards fixed assets for Charity use:-**
|Funds generated in the year as detailed in the SOFA
Resources applied on functional fixed assets
Other applications of funds
**Net resources available to fund charitable activities**|**2023**
**£**
-
(755,742)
-
**(755,742)**|
|---|---|
**The notes attached on pages 12 to 21 form an integral part of these accounts.**
## **Movements in revenue and capital funds for the period from 6 March 2023 to 30 September 2023**
## **Revenue accumulated funds**
|(From)/To unrestricted revenue funds
**Closing revenue funds**
**Fixed asset funds**
At 6 March
Transfer (to)/from revenue funds
**At 30 September**
Recognised gains and losses before
transfers|**Unrestricted**
**Funds**
**2023**
**£**
(2,810)
**(2,810)**
483,507
**480,697**
**Designated**
**Funds**
**2023**
**£**
-
286,314
**286,314**|**Restricted**
**Funds**
**2023**
**£**
17,421
**17,421**
74,292
**91,713**
**Restricted**
**Funds**
**2023**
**£**
-
-
**-**|**Total**
**Funds**
**2023**
**£**
14,611
**14,611**
557,799
**572,410**
**Total**
**Funds**
**2023**
**£**
-
286,314
**286,314**|
|---|---|---|---|
The purposes of the transfers to fixed asset funds are described in Note 18 to the accounts and under the accounting policy 'Accounting for capital grants and fixed asset funds'.
|**Summary of funds**
**Unrestricted**
**and**
**Designated funds**
**2023**
**£**
Revenue accumulated funds
480,697
Fixed asset funds
286,314
**Total funds**
**767,011**|**Restricted**
**Funds**
**2023**
**£**
91,713
-
**91,713**|**Total**
**Funds**
**2023**
**£**
**572,410**
**286,314**
**858,724**|
|---|---|---|
**The notes attached on pages 12 to 21 form an integral part of these accounts.**
9
## **Eternity Downham Market - Statement of Financial Activities for the period ended 30 September 2023**
## **Eternity Downham Market**
**Income and Expenditure Account for the period from 6 March 2023 to 30 September 2023 as required by the Companies Act 2006**
|**_Income_**
Income from operations
Interest receivable
**Gross income in the period before exceptional items**
**Gross income in the period including exceptional items**
**_Expenditure_**
Charitable expenditure, excluding depreciation and amortisation
Depreciation and amortisation
Governance costs
Realised losses on disposals of social investments which are programme related
**Total expenditure in the period**
Tax on surplus on ordinary activities
**Retained surplus for the financial year**
**Net income after tax in the financial year**
**Net income before tax in the financial year**
Investment income|**2023**
**£**
60,053
-
**60,053**
**60,053**
36,281
6,882
2,280
-
**45,443**
**14,610**
-
**14,610**
**14,610**|
|---|---|
All activities derive from continuing operations
In accordance with the provisions of the Companies Act 2006, the headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities.
## **The notes attached on pages 12 to 21 form an integral part of these accounts.**
10
## **Eternity Downham Market - Balance Sheet as at 30 September 2023**
|||**SORP**|||
|---|---|---|---|---|
||**Note**|**Ref**||**2023**|
|||||**£**|
|**Fixed assets**||A|||
|Tangible assets|9|A2||748,860|
|**Current assets**||B|||
|Cash at bank and in hand||B4|112,192||
|**Creditors: amounts falling due within**|||||
|**one year**|11|C1|(2,325)||
|**Net current assets**||||109,867|
|**The total net assets of the charity**||||**858,727**|
## **The total net assets of the charity are funded by the funds of the charity, as follows:-**
|**Restricted funds**
Restricted Revenue Funds
15
D2
**Unrestricted Funds**
Unrestricted Revenue Funds
15
D3
**Designated Funds**
Designated Fixed Asset Funds
15
D3
**Total charity funds**|91,714
480,699
286,314|91,714
480,699
286,314
**858,727**|
|---|---|---|
The 'SORP Ref' indicated above is the classification of Balance Sheet items as set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the SOFA..
The Trustees acknowledge their responsibilities for complying with the requirements of charity legislation with respect to accounting records and the preparation of accounts.
The charity is subject to Independent Examination under charity legislation, and the report of the Independent Examiner is on page 7.
The Trustees are satisfied that, although the charity is not registered under the Companies Acts, if it were so registered, it would be eligible to prepare accounts in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.
_______________________ ND Butt Trustee Approved by the board of trustees on Date:________________
**The notes attached on pages 12 to 21 form an integral part of these accounts.**
11
## **Eternity Downham Market**
## **Notes to the Accounts for the period from 6 March 2023 to 30 September 2023**
## **1 Accounting policies**
## _**Policies relating to the production of the accounts.**_
## **Basis of preparation and accounting convention**
The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice.
## **Going Concern**
The charitable activities are entirely dependent on continuing grant aid and voluntary donations. As a consequence, the going concern basis is dependent on the future flow of these uncertain funding streams. Accordingly, the Trustees have obtained forecasts and, after reviewing the financial forecasts for future periods to 30 September 2024, the Trustees are satisfied that, at the time of approving the financial statements, it is appropriate to adopt the going concern basis in preparing the financial statements. Other than these matters, the Trustees are not aware of any material uncertainites about the charity's ability to continue as a going concern.
## **Risks and future assumptions**
The charity is a public benefit entity.
**It has been assumed that future donations and grants received will be at about the same level as current.**
## _**Policies relating to expenditure on goods and services provided to the charity.**_
## **Recognition of liabilities and expenditure**
A liability, and the related expenditure, is recognised when a legal or constructive obligation exists as a result of a past event, and when it is more likely than not that a transfer of economic benefits will be required in settlement, and when the amount of the obligation can be measured or reliably estimated..
Liabilities arising from future funding commitments and constructive obligations, including performance related grants, where the timing or the amount of the future expenditure required to settle the obligation are uncertain, give rise to a provision in the accounts, which is reviewed at the accounting year end. The provision is increased to reflect any increases in liabilities, and is decreased by the utilisation of any provision within the period, and reversed if any provision is no longer required. These movements are charged or credited to the respective funds and activities to which the provision relates.
## **Volunteers**
In accordance with the SORP, and in recognition of the difficulties in placing a monetary value on the contribution from volunteers, the contribution of volunteers is not included within the income of the charity.
However, the trustees value the significant contribution made to the activities of the charity by unpaid volunteers and this is described more fully in Note0.
12
## **Eternity Downham Market**
## **Notes to the Accounts for the period from 6 March 2023 to 30 September 2023** _**Policies relating to assets, liabilities and provisions and other matters.**_
## _**Tangible fixed assets**_
Tangible fixed assets are measured at their original cost value, or subsequent revaluation, or if donated, as described above. Cost value includes all costs expended in bringing the asset into its intended working condition.
Depreciation has been provided at the following rates in order to write off the assets to their anticipated residual value over their estimated useful lives.
Freehold premises Plant and machinery
0-2 % straight line 10-33.33 % reducing balance
## **Creditors and provisions**
Creditors and provisions are recognised when they arise.
## **Cash and bank balances**
Cash held by the charity is included at the amount actually held and counted at the year end. Bank balances, whether in credit or overdrawn, are shown at the amounts properly reconciled to the bank statements.
## **Pensions - defined contribution schemes**
The charity operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
## **Fund Accounting**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal or as implied by law.
There are no endowment funds.
The charity had transferred in the assets and funds which it had prior to conversion to a CIO.
## **2 Liability to taxation**
The Trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 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 on the specific charitable objects of the charity and for no other purpose. Value Added Tax is not recoverable by the charity, and is therefore included in the relevant costs in the Statement of Financial Activities.
## **3 Winding up or dissolution of the charity**
If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.
13
## **Eternity Downham Market**
## **Notes to the Accounts for the period from 6 March 2023 to 30 September 2023 4 Significance of financial instruments to the charity's position**
There are no significant implications of such matters.
## **5 Net surplus before tax in the financial year**
|The net surplus before tax in the financial year is stated after charging:-
Depreciation of owned fixed assets
Pension costs
**6**
**Staff costs and emoluments**
**_Salary costs_**
Gross Salaries excluding trustees and key management personnel
Employer's operating costs of defined
contribution pension schemes
**Total salaries, wages and related costs**
The average number of part time staff employed in the period was|**2023**
**£**
6,882
180
**2023**
**£**
12,518
180
**12,698**
**2**|
|---|---|
Neither the trustees nor any persons connected with them have received any remuneration from the charity or any related entity, either in the current or prior period.
No employees received emoluments (excluding pension costs) in excess of £60,000 per annum.
## **7 Defined contribution pension schemes**
The charity operates a defined contribution pension scheme, the costs of which are shown above.
Any liabilites and assets associated with the scheme are shown under debtors and creditors.
## **8 Remuneration and payments to Trustees and persons connected with them**
No trustees or persons connected with them received any remuneration from the charity, or any related entity.
14
## **Eternity Downham Market**
## **Notes to the Accounts for the period from 6 March 2023 to 30 September 2023**
## **9 Tangible fixed assets**
|**_Current Year_**
**Cost**
Additions
**At 30 September 2023**
**Depreciation**
Charge for the period
**At 30 September 2023**
**Net book value**
**At 30 September 2023**
**11 Creditors: amounts falling due within one year**
Accruals
Defined contribution pension scheme liabilities due within on
**12 Revaluation reserve**
**_Current year_**
**At 6 March 2023**
Transfers in the year
**At 30 September 2023**
**13 Income and Expenditure account summary**
**At 6 March 2023**
Transfers in for the year
Surplus after tax for the year
**At 30 September 2023**|**Land and**
**Buildings**
£
747,792
**747,792**
4,650
**4,650**
**743,142**
e year
**Current year**
**Unrestricted**
**Funds**
**2023**
**£**
-
74,293
**74,293**|**Plant &**
**Machinery**
£
7,950
**7,950**
2,232
**2,232**
**5,718**
**Current year**
**Restricted**
**Funds**
**2023**
**£**
-
-
**-**|**Motor**
**Vehicles**
£
-
**-**
-
**-**
**-**
**2023**
**£**
2,280
45
**Current year**
**Total Funds**
**2023**
**£**
**-**
**74,293**
**74,293**
**2023**
**£**
-
844,113
14,610
**858,723**|**Total**
£
755,742
**755,742**
6,882
**6,882**
**748,860**|
|---|---|---|---|---|
15
## **Eternity Downham Market**
## **Notes to the Accounts for the period from 6 March 2023 to 30 September 2023**
## **14 Particulars of how particular funds are represented by assets and liabilities**
|**At 30 September 2023**
Tangible Fixed Assets
Current Assets
Current Liabilities
**At 6 March 2023**|**Unrestricted**
**funds**
**£**
462,546
20,478
(2,325)
**480,699**
**Unrestricted**
**funds**
**£**
**-**|**Designated**
**funds**
**£**
286,314
-
**286,314**
**Designated**
**funds**
**£**
**-**|**Restricted**
**funds**
**£**
-
91,714
-
**91,714**
**Restricted**
**funds**
**£**
**-**|**Total**
**Funds**
**£**
**748,860**
**112,192**
**(2,325)**
**858,727**
**Total**
**Funds**
**£**
**-**|
|---|---|---|---|---|
## **15 Change in total funds over the period as shown in Note 14 , analysed by individual funds**
|**_Unrestricted and designated funds:-_**
Unrestricted Revenue Funds
Designated Fixed Asset Funds
**Total unrestricted and designated funds**
**_Restricted funds:-_**
Foodbank
Heart for home
**Total restricted funds**
**Total charity funds**|**Funds brought**
**forward**
**£**
-
-
**-**
-
-
**-**
**-**|**Movement in**
**funds in 2023**
**See Note 16**
**£**
(2,810)
-
**(2,810)**
22,071
(4,650)
**17,421**
**14,611**|**See Note 17**
**£**
483,507
286,314
**769,821**
54,080
20,212
**74,292**
**844,113**
**Funds from**
**pre corporate**
**charity**|**£**
**480,697**
**286,314**
**767,011**
**76,151**
**15,562**
**91,713**
**858,724**
**Funds carried**
**forward to**
**2023**|
|---|---|---|---|---|
16
## **Eternity Downham Market**
## **Notes to the Accounts for the period from 6 March 2023 to 30 September 2023**
## **16 Analysis of movements in funds over the period as shown in Note 15**
|**Other**
**Income**
**Expenditure**
**Gains &**
**Losses**
**2023**
**2023**
**2023**
**£**
**£**
**£**
**_Unrestricted and designated funds:-_**
Unrestricted Revenue Funds
35,640
(38,450)
-
**_Restricted funds:-_**
Foodbank
24,413
(2,342)
-
Heart for the home
-
(4,650)
-
**60,053**
**(45,442)**
**-**
**Details of transfers between funds**
To/(from) Designated Fixed Asset Funds
To/(from) Restricted Revenue Funds
**Net transfers**
To/(from) Unrestricted Revenue Funds in accordance with the accounting policy 'Accounting for capital
grants and fixed asset funds'.
**_The transfers shown in note 15 above are:-_**|**Movement**
**in funds**
**2023**
**£**
**(2,810)**
**22,071**
**(4,650)**
**14,611**
**2023**
**£**
483,507
286,314
74,293
**844,114**|
|---|---|
## **17 Details of transfers between funds**
All the transfers are from the charity Eternity Downham Market which incorporated to become the charity.
## **18 The purposes for which the funds as**
## _**Unrestricted and designated funds:-**_
These funds are held for the meeting the objectives of the Unrestricted Revenue Funds charity, and to provide reserves for future activities, and , subject to charity legislation, are free from all restrictions on th i This fund represents the unrestricted surplus arising on the Unrestricted Revaluation Reserve revaluation of the charity's assets. The purpose of these funds is described under the Designated Fixed Asset Funds accounting policy 'Accounting for capital grants and fixed _**Restricted funds:-**_ The purpose of these funds is described under the Restricted Fixed Asset Funds accounting policy 'Accounting for capital grants and fixed This fund represents the restricted surplus arising on the Restricted Revaluation Reserve revaluation of the charity's assets. These funds are for the running of the foodbank Foodbank These funds are for the upkeep of the building Heart for home
## **19 Ultimate controlling party**
The charity is under the control of its legal members.
17
## **Eternity Downham Market**
## **Detailed analysis of income and expenditure for the period from 6 March 2023 to 30 September 2023 as required by the SORP 2015**
## _**This analysis is classsified by conventional nominal descriptions and not by activity.**_
## **20 Donations, Grants and Legacies**
|**20**
**Donations, Grants and Legacies**||||
|---|---|---|---|
|**Current year**
**Unrestricted**
**Funds**
**2023**
**£**
**Donations and gifts from individuals**
17,463
7,200
7,200
1,800
**33,969**
**Current year**
**Unrestricted**
**Funds**
**2023**
**£**
-
-
**-**
**Total Donations, Grants and Legacies**
**Total Donations, Grants and**
**Legacies**
**A1**
**33,969**
**21 Income from other, non charitable, trading activities**
**Current year**
**Unrestricted**
**Funds**
**2023**
**£**
1,671
**Total from other activities**
**A3**
**1,671**
Small donations individually less than £1000
**Total private sector revenue grants**
**Revenue grants and donations from non**
**public bodies**
Trussell Trust
King's Lynn and West Norfolk Borough
Council
**Total donations and gifts from**
**individuals**
C Hobday
N Tong
N & E Butt
Income from letting and licensing of
property for non charitable purposes|**Current year**
**Unrestricted**
**Funds**
**2023**
**£**
17,463
7,200
7,200
1,800
**33,969**
**Current year**
**Unrestricted**
**Funds**
**2023**
**£**
-
-
**-**|**Current year**
**Restricted**
**Funds**
**2023**
**£**
8,117
-
-
-
**8,117**
**Current year**
**Restricted**
**Funds**
**2023**
**£**
8,296
8,000
**16,296**|**Current year**
**Total Funds**
**2023**
**£**
**25,581**
**7,200**
**7,200**
**1,800**
**42,087**
**Current year**
**Total Funds**
**2023**
**£**
**8,296**
**8,000**
**16,296**|
|||||
|||**24,413**
**Current year**
**Restricted**
**Funds**
**2023**
**£**
-
**-**|**58,383**
**Current year**
**Total Funds**
**2023**
**£**
**1,671**
**1,671**|
18
## **Eternity Downham Market**
## **Detailed analysis of income and expenditure for the period from 6 March 2023 to 30 September 2023 as required by the SORP 2015**
## **22 Investment income**
|Bank Interest Receivable
**Total investment income**
**A4**|**Current year**
**Unrestricted**
**Funds**
**2023**
**£**
-
**-**|**Current year**
**Restricted**
**Funds**
**2023**
**£**
-
**-**|**Current year**
**Total Funds**
**2023**
**£**
**-**
**-**|
|---|---|---|---|
## **23 Expenditure on charitable activities - Direct spending**
|**_Current Year_**
**Total direct spending**
**B2a**
Foodbank costs
Gross wages and salaries - charitable
activities
Meeting and ministry costs
Conferences and course
Outreach costs
Marketing and advertising of charitable
services
Refreshments|**Current year**
**Unrestricted**
**Funds**
**2023**
**£**
2,037
166
-
329
1,595
646
954
**5,727**|**Current year**
**Restricted**
**Funds**
**2023**
**£**
1,646
-
696
-
-
-
-
**2,342**|**Current year**
**Total Funds**
**2023**
**£**
**3,684**
**166**
**696**
**329**
**1,595**
**646**
**954**
**8,070**|
|---|---|---|---|
## **24 Expenditure on charitable activities- Grant funding of activities**
|**_Current Year_**
**Total grantmaking costs**
**B2c**
Grants made to individuals
**Breakdown of Grants made to organisations**
Grants made to organisations|**Current year**
**Unrestricted**
**Funds**
**2023**
**£**
874
3,420
**4,294**|**Current year**
**Restricted**
**Funds**
**2023**
**£**
-
-
**-**|**Current year**
**Total Funds**
**2023**
**£**
**874**
**3,420**
**4,294**|
|---|---|---|---|
|**_Current Year_**
AOG
Compassion UK
Christiasns against poverty
Evangelical alliance|**Current year**
**Unrestricted**
**Funds**
**2023**
**£**
1,470
1,730
120
100
**3,420**|**Current year**
**Restricted**
**Funds**
**2023**
**£**
-
-
-
-
**-**|**Current year**
**Total Funds**
**2023**
**£**
1,470
1,730
120
100
**3,420**|
|---|---|---|---|
19
## **Eternity Downham Market**
## **Detailed analysis of income and expenditure for the period from 6 March 2023 to 30 September 2023 as required by the SORP 2015**
## **25 Support costs for charitable activities**
|**Current year**
**Current year**
**_Current Year_**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**2023**
**2023**
**£**
**£**
**_Employee costs not included in direct costs_**
8,834
-
180
-
80
-
**_Volunteer costs_**
166
-
**_Premises Expenses_**
3,193
-
2,182
-
1,774
-
**_Administrative overheads_**
652
-
34
-
803
-
140
-
1,080
-
1,901
-
1,024
-
290
-
675
-
**_Professional fees paid to advisors other than the auditor or examiner_**
855
-
**_Financial costs_**
54
-
2,232
4,650
**Support costs before reallocation**
**26,149**
**4,650**
**Total support costs - Current Year**
**26,149**
**4,650**
The basis of allocation of costs between activities is described under accounting policies
All the expenditure in the prior year was unrestricted.
The basis of allocation of costs between activities is described under accounting policies
Equipment,repairs,expenses and maintenance
Bank charges
Stationery printing and office supplies
Salaries - Administrative staff
Postage
Cleaning and waste management
Light heat power and water
Premises repairs, renewals and
maintenance
Legal fees
Liabilty and contents insurance
Subscriptions to periodicals
Telephone, fax and internet
Computer and IT costs
DBS checks
Travel and subsistence - volunteers
Defined contribution pension cost -
administrative staff
AOG fee
Sundry expenses
Depreciation & Amortisation in total for|**Current year**
**Total Funds**
**2023**
**£**
**8,834**
**180**
**80**
**166**
**3,193**
**2,182**
**1,774**
**652**
**34**
**803**
**140**
**1,080**
**1,901**
**1,024**
**290**
**675**
**855**
**54**
**6,882**
**30,799**
**30,799**|
|---|---|
20
## **Eternity Downham Market**
## **Detailed analysis of income and expenditure for the period from 6 March 2023 to 30 September 2023 as required by the SORP 2015**
## **26 Other Expenditure - Governance costs**
|**_Current Year_**
Independent Examiner's fees
**Total Governance costs**
**27 Total Charitable expenditure**
**_Current Year_**
Total direct spending
**B2a**
Total grantmaking costs
**B2c**
Total support costs
**B2d**
Total Governance costs
**B2e**
**Total charitable expenditure**
**B2**|**Current year**
**Unrestricted**
**Funds**
**2023**
**£**
2,280
**2,280**
**Current year**
**Unrestricted**
**Funds**
**2023**
**£**
5,727
4,294
26,149
2,280
**38,450**|**Current year**
**Restricted**
**Funds**
**2023**
**£**
-
**-**
**Current year**
**Restricted**
**Funds**
**2023**
**£**
2,342
-
4,650
-
**6,992**|**Current year**
**Total Funds**
**2023**
**£**
**2,280**
**2,280**
**Current year**
**Total Funds**
**2023**
**£**
**8,070**
**4,294**
**30,799**
**2,280**
**45,443**|
|---|---|---|---|
21