Charity Registration No. 233390
Company Registration No. 649091 (England and Wales)
THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)
CONTENTS
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Council's report | 2 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 - 7 |
| Balance sheet | 8 |
| Notes to the accounts | 9 - 20 |
THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)
LEGAL AND ADMINISTRATIVE INFORMATION
The Council presents their ninety-ninth Annual Report together with the independently prepared Accounts for the year ended 30th September 2023.
Honorary President Jacqueline Woodman Council Members Rev. Michael Allured (Chair) Jacqueline Woodman (Vice Chair - resigned 11 March 2023) Bruce Bebington (resigned 11 March 2023) Carol Chambers (resigned 11 March 2023) Rev. Simon Ramsay Julio Torres Jr Rev Feargus O'Connor (appointed 11 March 2023) Rev Sue Sinnamon (appointed 11 March 2023) Joanne O'Sullivan (appointed 11 March 2023) District Minister Rev. James Corrigall Finance Officer Bruno Martin Secretary Rev. Michael Allured Charity number 233390 Company number 649091 Registered office Essex Hall 1-6 Essex Street Strand London WC2R 3HY Independent examiner Shaw Gibbs Limited 264 Banbury Road Oxford OX2 7DY Bankers CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
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THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)
COUNCIL'S REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2023
Structure, governance and management
Organisation
A board of up to ten council members who met six times during the year administers the charity.
Introduction to list trustees
The Council members, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Rev. Michael Allured Rev. Feargus O'Connor Joanna O'Sullivan Rev. Simon Ramsay Rev. Sue Sinnamon Julio Torres Jr
Risk management
The Directors have examined the major strategic and operational risks, which the charity faces and confirms that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.
Public benefit
The Trustees take into account the Charity Commission guidance on public benefit and believe that the activities of the Charity are in line with that guidance.
Objectives and activities
The Assembly’s objectives are the following:
a) To promote the spread of religious ideas usually described as Unitarian or Free Christian;
b) To promote fellowship among the congregations and individual Unitarians in the area;
c) To assist weak congregations;
d) To encourage the formation of new congregations;
e) To do all such other lawful things as are incidental to the above objects or any of them.
Achievements and performance
The Council is satisfied with the results for the year.
Governing document disclosure
The charity is governed by a memorandum and articles incorporated.
Financial review
Details of incoming resources and resources expended are shown in the Statement of Financial Activities on pages 5/6 of the financial statements. The Charity’s primary source of income from listed investments has risen by 10%, and though there was a small fall in market value of investments held, sales of listed investments yielded a small surplus which funded the increased grants during the year to member churches, as well expenditure on administration and also the development programme.
Investment policy
The Trustees continue a policy of transferring the investment portfolio in both the unrestricted and designated funds to a wholly ethical basis. On the advice of our professional fund managers, the new portfolio emphasises capital growth, and is internationally weighted. This resulted in the year in a small unrealised loss in the portfolio.
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THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)
COUNCIL'S REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2023
Reserves policy
It is the policy of the LDPA to maintain unrestricted and non-designated funds, which are the free reserves of the charity, at a level, which equates to approximately six months unrestricted expenditure. This provides sufficient funds to cover management and administration and support costs and to respond to emergency applications for grants arising from time to time. Unrestricted funds were maintained at this level throughout the year.
On behalf of the Council
Rev. Michael Allured Secretary Dated: 17 May 2024
Julio Torres Jr Member Dated: 17 May 2024
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THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)
INDEPENDENT EXAMINER'S REPORT
TO THE COUNCIL MEMBERS OF THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)
I report to the Council members on my examination of the financial statements of The London District And South Eastern Provincial Assembly Of Unitarian And Free Christian Churches (Incorporated) (the charity) for the year ended 30 September 2023.
Responsibilities and basis of report
As the Council members of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements 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 financial statements carried out under section 145 of the Charities Act 2011 (the 2011 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 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 that in any material respect:
-
1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements 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
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4 the financial statements 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 financial statements to be reached.
Samantha Daniels FCA for and on behalf of Shaw Gibbs Limited 264 Banbury Road Oxford OX2 7DY
Dated: 23 May 2024
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THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
| Unrestricted Unrestricted Restricted funds funds funds general designated 2023 2023 2023 Notes £ £ £ Income and endowments from: Voluntary income 2 415 - - Charitable activities Development fund - 20,324 - Investments 3 37,710 14,525 13,170 Other income 4 65 - - Total income 38,190 34,849 13,170 Expenditure on: 5 Raising funds Rental expenses 1,248 - - Investment management 10,088 5,218 - 11,336 5,218 - |
Total Unrestricted Unrestricted Restricted funds funds funds general designated 2023 2022 2022 2022 £ £ £ £ 415 415 - - 20,324 - 1,786 - 65,405 35,662 13,008 13,230 65 - - - 86,209 36,077 14,794 13,230 1,248 2,294 - - 15,306 10,873 5,471 - 16,554 13,167 5,471 - |
Total 2022 £ 415 - 1,786 61,900 - |
|---|---|---|
| 64,101 | ||
| 2,294 16,344 |
||
| 18,638 |
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THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
| Unrestricted Unrestricted Restricted funds funds funds general designated 2023 2023 2023 Notes £ £ £ Charitable activities Grants to churches 9,715 - 9,700 District minister costs 45,964 11,403 - Development programme - 29,949 - Administrative costs 12,814 20,118 - Total charitable expenditure 68,493 61,470 9,700 Total expenditure 79,829 66,688 9,700 Net gains/(losses) on investments 9 64,493 13,118 50,048 Net income/(expenditure) 22,854 (18,721) 53,518 Transfers between funds (9,625) 9,625 - Net movement in funds 13,229 (9,096) 53,518 Reconciliation of funds: Fund balances at 1 October 2022 1,149,217 599,411 304,552 Fund balances at 30 September 2023 1,162,446 590,315 358,070 |
Total Unrestricted Unrestricted Restricted funds funds funds general designated 2023 2022 2022 2022 £ £ £ £ 19,415 8,175 - 9,700 57,367 46,469 11,403 - 29,949 - 9,746 - 32,932 11,936 16,264 - 139,663 66,580 37,413 9,700 156,217 79,747 42,884 9,700 127,659 (104,173) (54,343) - 57,651 (147,843) (82,433) 3,530 - (7,960) 7,960 - 57,651 (155,803) (74,473) 3,530 2,053,180 1,305,020 673,884 301,022 2,110,831 1,149,217 599,411 304,552 |
Total 2022 £ 17,875 57,872 9,746 28,200 113,693 132,331 (158,516) (226,746) - (226,746) 2,279,926 2,053,180 |
|---|---|---|
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THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
All income and expenditure derive from continuing activities; such as the development fund income which this year all arises from the charity's Festival of Unitarians in the South-East.
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THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)
BALANCE SHEET
AS AT 30 SEPTEMBER 2023
| Notes Fixed assets Investment property 12 Investments 11 Current assets Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities The funds of the charity Restricted income funds 15 Unrestricted funds - general Unrestricted funds - designated 16 |
2023 £ £ 492,000 1,515,597 2,007,597 1,828 110,237 112,065 8,831 103,234 2,110,831 358,070 1,162,446 590,315 2,110,831 |
2022 £ £ 400,000 1,491,480 1,891,480 1,071 169,251 170,322 8,622 161,700 2,053,180 304,552 1,149,217 599,411 2,053,180 |
2022 £ £ 400,000 1,491,480 1,891,480 1,071 169,251 170,322 8,622 161,700 2,053,180 304,552 1,149,217 599,411 2,053,180 |
|---|---|---|---|
| 1,891,480 161,700 |
|||
| 2,053,180 | |||
| 304,552 1,149,217 599,411 |
|||
| 2,053,180 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 September 2023.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Council members on 17 May 2024
Rev M Allured Julio Torres Jr Trustee Trustee
Company registration number 649091 (England and Wales)
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THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023
1 Accounting policies
Charity information
The London District And South Eastern Provincial Assembly Of Unitarian And Free Christian Churches (Incorporated) is a private company limited by guarantee incorporated in England and Wales. The registered office is Essex Hall, 1-6 Essex Street, Strand, London, WC2R 3HY.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the Council members have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Council members continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Council members in furtherance of their charitable objectives.
Designated funds comprise funds which have been set aside at the discretion of the Council members for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
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THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023
1 Accounting policies
(Continued)
1.5 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 is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking 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 of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT, which cannot be recovered.
1.6 Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.
The property is treated as 45.6% general funds as this is the percentage which LDPA owns for its general use, and 54.4% restricted funds as this is the amount related to the other beneficial owners. The income received is split between the charity and the other beneficial owners.
1.7 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023
1 Accounting policies
(Continued)
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2 Voluntary income
| Personal subscriptions Corporate subscriptions Personal subscriptions Alan Ruston Corporate subscriptions Rosslyn Hill Unitarian Chapel |
2023 £ 15 400 415 15 15 400 400 |
2022 £ 15 400 |
|---|---|---|
| 415 | ||
| 15 | ||
| 15 | ||
| 400 | ||
| 400 |
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THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023
3 Income from investments
| Unrestricted Unrestricted Restricted funds funds funds general designated 2023 2023 2023 £ £ £ Rental income 9,600 - - Income from listed investments 25,210 13,447 13,170 Interest receivable 2,900 1,078 - 37,710 14,525 13,170 |
Total Unrestricted Unrestricted Restricted funds funds funds general designated 2023 2022 2022 2022 £ £ £ £ 9,600 9,209 - - 51,827 21,902 13,008 13,230 3,978 4,551 - - 65,405 35,662 13,008 13,230 |
Total 2022 £ 9,209 48,140 4,551 |
|---|---|---|
| 61,900 |
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THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023
| 4 | Other income | ||
|---|---|---|---|
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Other income | 65 | - | |
| 5 | Direct charitable expenditure: grants | ||
| 2023 | 2022 | ||
| Unestricted funds | £ | £ | |
| Northiam Chapel | 3,776 | 3,925 | |
| Golders Green Unitarians | 1,200 | - | |
| Lewisham Unitarians | - | 750 | |
| Dover Unitarians | 1,200 | 1,500 | |
| Ditchling Unitarians | 2,000 | 2,000 | |
| Richmond & Putney Unitarians | 1,200 | - | |
| Horsham Unitarians | 1,200 | - | |
| The Inquirer Grants | 1,000 | - | |
| 11,576 | 8,175 | ||
| 2023 | 2022 | ||
| Restricted funds | £ | £ | |
| Richmond/Putney - ex Putney Church Fund | 6,700 | 6,700 | |
| Stratford - ex Iford Church Fund | 3,000 | 3,000 | |
| 9,700 | 9,700 |
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THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023
6 District minister costs
| Unrestricted Unrestricted funds funds general designated £ £ Stipend 34,859 - Housing allowance - 11,403 Social security costs 317 - Pension costs 4,626 - Total salary costs 39,802 11,403 Travel and sundry costs 6,162 - 45,964 11,403 |
Total 2023 £ 34,859 11,403 317 4,626 51,205 6,162 57,367 |
Total 2022 £ 33,554 11,403 1,197 4,496 |
|---|---|---|
| 50,650 7,222 |
||
| 57,872 |
During the year the company had one employee (2022: one employee).
7 Council Members
None of the Council members (or any persons connected with them) received any remuneration or benefits from the charity during the year.
Expenses reimbursed to the Trustees were amounting to £nil (2022: £nil)
8 Employees
The average monthly number of employees during the year was:
| 2023 | 2022 |
|---|---|
| Number | Number |
| 1 | 1 |
There were no employees whose annual remuneration was more than £60,000.
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THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023
9 Gains and losses on investments
| Unrestricted Unrestricted Restricted funds funds funds general designated 2023 2023 2023 Gains/(losses) arising on: £ £ £ Revaluation of investments (6,608) (2,135) - Sale of investments 29,149 15,253 - Revaluation of investment properties 41,952 - 50,048 64,493 13,118 50,048 |
Total Unrestricted Unrestricted Restricted Total funds funds funds general designated 2023 2022 2022 2022 2022 £ £ £ £ £ (8,743) (112,026) (60,930) - (172,956) 44,402 7,853 6,587 - 14,440 92,000 - - - - 127,659 (104,173) (54,343) - (158,516) |
|---|---|
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THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023
10 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
11 Fixed asset investments
| Common Investment Fund Manse fund £ £ Cost or valuation At 30 September 2022 993,652 497,828 Additions 143,459 83,219 Valuation changes (6,608) (2,135) Disposals (137,870) (55,948) At 30 September 2023 992,633 522,964 Carrying amount At 30 September 2023 992,633 522,964 At 30 September 2022 993,652 497,828 12 Investment property Fair value At 1 October 2022 Net gains or losses through fair value adjustments At 30 September 2023 |
Total £ 1,491,480 226,678 (8,743) (193,818) |
|---|---|
| 1,515,597 | |
| 1,515,597 | |
| 1,491,480 | |
| 2023 £ 400,000 92,000 |
|
| 492,000 |
The fair value of the investment property has been arrived at on the basis of a valuation carried out by the trustees, on the basis that a property valuation at Q1 2017 would have increased 23% by Q3 2023.
The latest formal valuation was in August 2017 by Rush, Witt and Wilson Residential and Commercial Estate Agents, who are not connected with the charity. The valuation was £400,000, and was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
| 13 | Debtors | ||
|---|---|---|---|
| 2023 | 2022 | ||
| Amounts falling due within one year: | £ | £ | |
| Other debtors | 1,828 | 1,071 |
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THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023
14 Creditors: amounts falling due within one year
| Creditors: amounts falling due within one year | ||
|---|---|---|
| Other taxation and social security Trade creditors Other creditors Accruals and deferred income |
2023 £ 776 1,560 1,397 5,098 8,831 |
2022 £ - 1,260 1,301 6,061 |
| 8,622 |
15 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
| At 1 Permanent Chapel Building Fund Ilford Church Fund Putney Church Fund Northiam Fund Previous year: At 1 Permanent Chapel Building Fund Ilford Church Fund Putney Church Fund Northiam Fund |
October 2022 Incoming resources Resources expended Gains and losses At 30 September 2023 £ £ £ £ £ 58,259 - - - 58,259 20,545 5,986 (3,000) - 23,531 8,148 7,184 (6,700) - 8,632 217,600 - - 50,048 267,648 304,552 13,170 (9,700) 50,048 358,070 October 2021 Incoming resources Resources expended Gains and losses At 30 September 2022 £ £ £ £ £ 58,259 - - - 58,259 17,531 6,014 (3,000) - 20,545 7,632 7,216 (6,700) - 8,148 217,600 - - - 217,600 301,022 13,230 (9,700) - 304,552 |
October 2022 Incoming resources Resources expended Gains and losses At 30 September 2023 £ £ £ £ £ 58,259 - - - 58,259 20,545 5,986 (3,000) - 23,531 8,148 7,184 (6,700) - 8,632 217,600 - - 50,048 267,648 304,552 13,170 (9,700) 50,048 358,070 October 2021 Incoming resources Resources expended Gains and losses At 30 September 2022 £ £ £ £ £ 58,259 - - - 58,259 17,531 6,014 (3,000) - 20,545 7,632 7,216 (6,700) - 8,148 217,600 - - - 217,600 301,022 13,230 (9,700) - 304,552 |
|---|---|---|
| 304,552 |
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THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023
16 Unrestricted funds - designated
The income funds of the Charity include the following designated funds, which have been set aside out of unrestricted funds by the trustees for specific purposes:
Manse Fund – to defray costs of housing provision for the District Minister;
Development Fund – to support initiatives designed to strengthen the Unitarian presence within the LDPA area.
| At 1 Manse Fund - Capital Manse Fund - Income Account Development Fund Previous year: At 1 Manse Fund - Capital Manse Fund - Income Account Development Fund |
October 2022 Incoming resources Resources expended Transfers Gains and losses At 30 September 2023 £ £ £ £ £ £ 553,513 - (5,218) - 13,118 561,413 45,898 14,525 (31,521) - - 28,902 - 20,324 (29,949) 9,625 - - 599,411 34,849 (66,688) 9,625 13,118 590,315 October 2021 Incoming resources Resources expended Transfers Gains and losses At 30 September 2022 £ £ £ £ £ £ 613,327 - (5,471) - (54,343) 553,513 60,557 13,008 (27,667) - - 45,898 - 1,786 (9,746) 7,960 - 673,884 14,794 (42,884) 7,960 (54,343) 599,411 |
|---|---|
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THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023
17 Analysis of net assets between funds
| Unrestricted Unrestricted Restricted funds funds funds general designated 2023 2023 2023 £ £ £ Fund balances at 30 September 2023 are represented by: Investment properties 224,352 - 267,648 Investments 992,633 522,964 - Current assets/(liabilities) (54,539) 67,351 90,422 1,162,446 590,315 358,070 Unrestricted Unrestricted Restricted funds funds funds general designated 2022 2022 2022 £ £ £ Fund balances at 30 September 2022 are represented by: Investment properties 182,400 - 217,600 Investments 1,005,055 486,425 - Current assets/(liabilities) (38,238) 112,986 86,952 1,149,217 599,411 304,552 |
Total 2023 £ 492,000 1,515,597 103,234 |
|---|---|
| 2,110,831 | |
| Total 2022 £ 400,000 1,491,480 161,700 |
|
| 2,053,180 |
18 Illford Church fund
A capital sum, arising from the disposal of the Ilford Church premises, managed by the British and Foreign Unitarian Association (Incorporated), with the income paid to the LDPA. In any year, this income is to be devoted to the Unitarian cause in the London District, priority being given to the Greater London Boroughs north of the Thames and east of Tower Hamlets, and to the County of Essex. Any income unspent on these purposes at the end of the financial year to be available for general LDPA purposes.
| Received from B & FUA Paid to Illford Church Balance to LDPA Funds |
2023 £ 5,986 (3,000) 2,986 |
2022 £ 6,014 (3,000) |
|---|---|---|
| 3,014 |
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THE LONDON DISTRICT AND SOUTH EASTERN PROVINCIAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES (INCORPORATED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023
19 Putney Church fund
The capital of this fund derives from the sale of the Putney Church premises, plus the Church’s investments. This is managed by the British & Foreign Unitarian Association (Incorporated), which pays the income to the LDPA. Priority claim on that income is to meet the needs of the Richmond and Putney Unitarian congregation; any surplus to be available for general LDPA purposes.
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Received from B & FUA | 7,184 | 7,217 |
| Paid to Richmond/Putney | (6,700) | (6,700) |
| Balance to/(from) LDPA Funds | 484 | 517 |
20 Pensions
Following the appointment of the current District Minister in June 2021, the Charity doesn’t currently participate in the Ministers Pension Fund Scheme.
The current District Minister elected to have his pension contributions paid into a Self-Invested Private Pension administered via an independent financial advisor.
For the previous District Minister, the Charity did participate in the Ministers Pension Fund Scheme, which is a defined benefit scheme. The Charity had one employee participating in the scheme. The assets of the scheme are held separately from those of the Charity and are administered by the Ministers Pension Fund.
Contributions to the scheme are charged to the Statement of Financial Activities so as to spread the cost of pensions over the employees’ working lives with the Charity. A qualified actuary using an on-going assessment of the funding position determines the level of pension contributions. The last actuarial valuation of the Ministers Pension Fund scheme for which results are available was on 31 December 2013 and showed a deficit for the whole scheme of £644,000 (2010: £801,000) before adjustments. This is made up of a Past Service deficit of £1,043,000 offset by a future Service surplus of £399,000 generated by the current contribution of 8.5% from members and congregations. From January 2013 pension contributions from members and congregations have been at the rate of 10%.
Employer contributions and employee contributions were 10% of earnings including housing allowance. The pension cost for the year of the charity amounted to £4,626 (2022: £4,496).
There were contributions outstanding at the year end of £776 (2022: £757).
21 Related party transactions
There were no disclosable related party transactions during the year (2022 - none).
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