## ||Page| |---|---| |Reference and Administrative Information|3| |Trustees' Report|4-5| |StatementofTrustees' Responsibilities|6| |Independent Auditor's Report|7-9| |StatementofFinancial Activities|10| |Balance Sheet|11| |StatementofCash Flows|12| |Notes to the Financial Statements|13 - 20| |Supplementary Information relating to the Financial Statements|22| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total| |---|---|---|---|---|---|---|---| |||Funds|Funds|Funds|Funds|Funds|Funds| |||2023|2023|2023|2022|2022|2022| ||Notes|£|£|£|£|£|£| |Incoming Resources|||||||| |Voluntary Income|7.1|42,933|22,554|65,487|205,820|2,314|208,134| |Charitable activities|||||||| |Religious Ministry,|7.2|211,250|45,972|257,222|173,536|49,845|223,381| |Retirement Welfare,|||||||| |Restoration and Missions|||||||| |Investments|7.3|188,332|2,833|191,165|136,428|154|136,582| |Totalincomingresources||442,515|71,359|513,874|515,784|52,313|568,097| |Resources Expended|||||||| |Charitable activities|8.1|763,325|21,709|785,034|929,678|841|930,519| |Net gains/(losses) on||(86,201)||(86,201)|
56,027||56,027| |investments|||||||| |Netincoming/outgoing||(407,011)|49,650|(357,361)|
(357,867)|51,472|(306,395)| |resources beforetransfers|||||||| |Gross transfers between|||||||| |funds|||||||| |Other recognised gains/(losses):|||||||| |Surplus/(deficit) for the||(407,011)|49,650|(357,361)|
(357,867)|51,472|(306,395)| |financial year|||||||| |Unrealised gains/(losses)||250,000||250,000|||| |onproperty|||||||| |Net movementinfunds||(157,011)|49,650|(107,361)|
(357,867)|51,472|(306,395)| |forthefinancialyear|||||||| |Reconciliationoffunds:|||||||| |Total funds beginningofthe|20|
9,442,202|310,583|9,752,785|9,589,933|469,247|10,059,180| |year|||||||| |Totalfundsattheendof||9,285,191|360,233|9,645,424|9,232,066|520,719|9,752,785| |theyear|||||||| ## |||2023|2022| |---|---|---|---| ||Notes|£|£| |FixedAssets|||| |Tangible assets|13|5,817,067|5,649,524| |Investments|14|1,314,661|1,409,423| |||7,131,728|7,058,947| |CurrentAssets|||| |Debtors|15|59,820|62,594| |Cash at bank andinhand|16|2,475,514|2,649,272| |||2,535,334|2,711,866| |Creditors:Amountsfallingduewithinoneyear|17|(21,638)|(18,028)| |Net CurrentAssets||2,513,696|2,693,838| |TotalAssetslessCurrentLiabilities||9,645,424|9,752,785| |Funds|||| |Restricted trust funds||360,233|520,719| |General fund (unrestricted)||9,285,191|9,232,066| |Totalfunds|20|9,645,424|9,752,785| ## |||2023|2022| |---|---|---|---| ||Notes|£|£| |Cashflowsfromoperatingactivities|||| |Net movementinfunds
Adjustmentsfor:||(107,361)|(306,395)| |Unrealised gains and losses on property||(250,000)|| |Depreciation||89,006|107,903| |Interest receivable and similar income||30,480|(94,122)| |Movements in working capital:||(237,875)|(292,614)| |Movementindebtors
Movement in creditors||2,774
3,610|(2,142)
568| |Cash usedinoperations||(231,491)|(294,188)| |Cashflowsfrominvestingactivities|||| |Interest received||16,485|263| |Dividends received||26,774|23,256| |Payments to acquire tangible assets||(6,549)|(21,159)| |Payments to acquire investments||(404,852)|(246,596)| |Receipts from salesofinvestments||425,875|270,278| |Net cash generated from investment activities||57,733|26,042| |Net decreaseincashandcashequivalents||(173,758)|(268, 146)| |Cash andcashequivalentsatthebeginningoftheyear||2,649,272|2,917,418| |Cash andcashequivalentsattheendoftheyear|16|2,475,514|2,649,272| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |7.2|CHARITABLE ACTIVITIES||Unrestricted|Restricted|2023|2022| |---|---|---|---|---|---|---| ||||Funds|Funds||| ||||£|£|£|£| ||Religious Ministry||211,250||211,250|173,536| ||Retirement Welfare|||45,972|45,972|46,769| ||Missions|||||3,076| ||||211,250|45,972|257,222|223,381| |7.3|INVESTMENTS||Unrestricted|Restricted|2023|2022| ||||Funds|Funds||| ||||£|£|£|£| ||Investment Income||188,332|2,833|191,165|136,582| |8.|EXPENDITURE|||||| |8.1|CHARITABLE ACTIVITIES|Direct|
Other|Support|2023|2022| |||Costs|
Costs|Costs||| |||£|£|£|£|£| ||Religious Ministry|65,516|37,397|660,412|763,325|929,678| ||Retirement Welfare|||10,433|10,433|671| ||Restoration|||96|96|82| ||Missions|||11,180|11,180|88| |||65,516|37,397|682,121|785,034|930,519| |8.2|SUPPORT COSTS|||Charitable|2023|2022| |||||Activities||| |||||£|£|£| ||Community Expenses|||251,257|251,257|220,744| ||General Office|||75,340|75,340|54,998| ||Services charges|||11,010|11,010|11,093| ||Insurance|||59,862|59,862|55,298| ||Repairs and Renewal|||77,916|77,916|304,075| ||Investment Management Fees|||8,561|8,561|9,106| ||Legal and Professional (Governance)|||88,169|88,169|50,905| ||Audit Fees (Governance)|||6,560|6,560|6,560| ||Accountancy Services (Governance)|||14,440|14,440|14,440| ||Curia Costs (Governance)|||||5,562| ||Depreciation|||89,006|89,006|107,903| |||||682,121|682,121|840,684| |9.|ANALYSIS OF SUPPORT COSTS|||||| |||Basisof|||2023|2022| |||Apportionment|||£|£| ||Community Expenses|Activity|||251,257|220,744| ||General Office|Staff Time|||75,340|54,998| ||Services charges|Activity|||11,010|11,093| ||Insurance|Activity|||59,862|55,298| ||Repairs and Renewal|Activity|||77,916|304,075| ||Investment Management Fees|Activity|||8,561|9,106| ||Legal and Professional (Governance)|Usage|||88,169|50,905| ||Audit Fees (Governance)|Administration|||6,560|6,560| ## |NOTES TO THE FINANCIAL|NOTES TO THE FINANCIAL|STATEMENTS||continued| |---|---|---|---|---| |for the|financial year ended 28 February 2023|||| ||Accountancy Services (Governance)|Administration|14,440|14,440| ||Curia Costs (Governance)|Administration||5,562| ||Depreciation|Unrestricted Activities|89,006|107,903| ||||682,121|840,684| |10.|NET INCOMING RESOURCES||2023|2022| ||||£|£| ||Net Incoming Resources are stated|after charging/(crediting):||| ||Depreciation of tangible assets||89,006|107,903| ||Auditor's remuneration:|||| ||- audit services||6,560|6,560| |11.|INVESTMENT AND OTHER INCOME||2023|2022| ||||£|£| ||Rent receivable - other income||147,906|113,063| ||Royalties received|||414| ||Insurance claims receivable|||15,056| ||Covid-19 grant received|||12,025| ||Bank interest||13,990|263| ||Investment income||29,269|22,842| ||||191,165|163,663| ## ## |
The average number of persons employed (including executive trust
follows:|ees) during the financial y|ear wasas| |---|---|---| ||2023|2022| ||Number|Number| |Trustees|5|5| |Administration&Retreat House|5|5| ||10|10| |The staff costs (inclusiveoftrustees' salaries) comprise:|2023|2022| ||£|£| |Wages and salaries|63,838|68,024| |Pension costs|1,678|1,586| ||65,516|69,610| ## ## |TANGIBLE FIXED ASSETS|||||| |---|---|---|---|---|---| ||Landand|Investment|Fixtures,|Motor|Total| ||buildings|properties|fittingsand|vehicles|| ||freehold||equipment||| ||£|£|£|£|£| |CostorValuation|||||| |At 1 March 2022|4,683,558|1,700,000|85,726|64,511|6,533,795| |Additions|||6,549||6,549| |Revaluation||250,000|||250,000| |At 28 February 2023|4,683,558|1,950,000|92,275|64,511|6,790,344| |Depreciation|||||| |At 1 March 2022|776,128||66,209|41,934|884,271| |Charge for the financial year|78,149||5,213|5,644|89,006| |At28February 2023|854,277||71,422|47,578|973,277| |Netbookvalue|||||| |At28February 2023|3,829,281|1,950,000|20,853|16,933|5,817,067| |At28February 2022|3,907,430|1,700,000|19,517|22,577|5,649,524| ## ## |INVESTMENTS||| |---|---|---| ||Other|Total| ||investments|| |Investments|£|£| |Fairvalue||| |At 1 March 2022|1,409,423|1,409,423| |Additions|404,852|404,852| |Disposals|(425,875)|(425,875)| |Revaluations|(73,739)|(73,739)| |At 28 February 2023|1,314,661|1,314,661| |Netbookvalue||| |At 28 February 2023|1,314,661|1,314,661| |At 28 February 2022|1,409,423|1,409,423| |**15.**|**DEBTORS**|**2023**|2022| |---|---|---|---| |||£|£| ||Prepayments and accrued income|**59,820**|62,594| ||Prepayments and Accrued Income consistsofa prepayment of insurance.||| |**16.**|**CASH AND CASH EQUIVALENTS**|**2023**|2022| |||£|£| ||Cash and bank balances|**616,947**|573,262| ||Cash equivalents|**1,858,567**|2,076,010| |||**2,475,514**|2,649,272| |**17.**|**CREDITORS**|**2023**|2022| ||**Amounts falling due within one year**|£|£| ||Taxation and social security costs (Note 18)|**2,819**|568| ||Other creditors|**1,359**|| ||Accruals and deferred income|**17,460**|17,460| |||**21,638**|18,028| |**18.**|**TAXATION AND SOCIAL SECURITY**||**2023**|2022| |---|---|---|---|---| ||||£|£| ||**Creditors:**|||| ||PAYE/NI||**2,819**|568| |**19.**|**RESERVES**|||| |||**Funds**|**Investment**|**Total**| ||||**property**|| ||||**reserve**|| |||£|£|£| ||At the beginningofthe year|9,209,992|542,793|9,752,785| ||||250,000|250,000| ||Deficit for the financial year|(357,361)||(357,361)| ||At the endofthe year|**8,852,631**|**792,793**|**9,645,424**| ## |20.|FUNDS||||||| |---|---|---|---|---|---|---|---| |20.1|RECONCILIATION OF MOVEMENTINFUNDS||||Unrestricted|Restricted|Total| ||||||Funds|Funds|Funds| ||||||£|£|£| ||At 1 March2021||||9,589,933|469,247|10,059,180| ||Movement during the|financial year|||(357,867)|51,472|(306,395)| ||At28February 2022||||9,442,202|310,583|9,752,785| ||Movement during the|financial year|||(157,011)|49,650|(107,361)| ||At 28 February 2023||||9,285,191|360,233|9,645,424| |20.2|ANALYSIS OF MOVEMENTSONFUNDS||||||| |||Balance|Income|Expenditure|Transfers|Gains and|Balance| |||1 March|||between|losses|28 February| |||2022|||funds||2023| |||£|£|£|£|£|£| ||Restrictedfunds||||||| ||Retirement Welfare|219,729|70,013|10,433|||279,309| ||Restoration|4,276||96|||4,180| ||Missions|86,578|1,346|11,180|||76,744| |||310,583|71,359|21,709|||360,233| ||Unrestrictedfunds||||||| ||General|9,442,202|356,314|763,325||250,000|9,285,191| ||Totalfunds|9,752,785|427,673|785,034||250,000|9,645,424| |20.3|ANALYSISOFNET ASSETSBYFUND||||||| ||||Fixed|Financial|Current|Current|Total| ||||assets|fixed|assets|liabilities|| ||||- charityuse|
assets|||| ||||£|£|£|£|£| ||Restricted trust funds||||360,233||360,233| ||Unrestricted general funds||5,817,067|1,314,661|2,175,101|(21,638)|9,285,191| ||||5,817,067|1,314,661|2,535,334|(21,638)|9,645,424| ## ##