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2021-12-31-accounts

IFORD UNITED REFORMED CHURCH Ropley Road, Bournemouth, BH7 6RU Tel: 01202 420443

Report and Financial Statements Year ended 31 December 2021 Charity No: 234230

Prepared by Ian M Adams

IFORD UNITED REFORMED CHURCH - 234230

Contents

Report of the trustees ……………………….. 3
Legal and Administrative Information ………………………………… 3
Registered Office ………………………………………………………… 3
Independent Examiner ……………………………………………… 3
Bankers ……………………………………………………………………… 3
Governing Document ………………………………………………… 3
Objects of the Charity ………………………………………………… 3
Trustees and Governance …………………………………………………… 3
Elders (Trustees) ……………………………………………………… 3
Officers ………………………………………………………………………… 4
Selection Method of the Council of Elders (Trustees) .. 4
Activities and Achievements ……………………………………………….. 4
Policies …………………………………………………………………………………. 4
Reserves ……………………………………………………………………… 4
Investments Selection ……………………………………………… 4
Review of Major Risks ……………………………………………….. 4
Grant-making Policy ………………………………………………….. 4
Signature and Declaration ………………………………………………….. 5
Report of the Independent Examiner ……………………………………………. 6
Receipts and Payment Accounts …………………………………………. 6
Respective Responsibilities of Trustees & Examiner … 6
Basis of Independent Examiner’s Statement …………… 6
Independent Examiner’s Statement ………………………… 6
Receipts and Payments Accounts ………………………………………………… 7
General Account – Receipts ………………………………………………… 7
General Account – Payments ……………………………………………… 8
Statement of Assets and Liabilities at Year End …………………. 9
Signature and Approval ………………………………………………………. 9
Notes on the Financial Statements – 31 December 2021 …. 10

IFORD UNITED REFORMED CHURCH - 234230

Report of the Trustees

The Elders present their report and financial statements for the year ended 31 December 2020. This report meets the requirements of the law and the guidance provided on receipt and payments accounts in paragraphs 350 to 356 of Accounting and Reporting by Charities, the Statement of Recommended Practice for charity accounts published in 2005 (SORP 2005).

Legal and Administrative Information

Registered Office

IFORD United Reformed Church, Ropley Road, Bournemouth BH7 6RU

Independent Examiner

J A Morgan, Meadow Court, Lane End, Wareham, BH20 7NP

Bankers

Governing Document

The Church rules were adopted at a Church Meeting held on 31 October 1977 and revised at the Church Meeting on 03 March 2010.

Objects of the Charity

To foster in the congregation concern for witness and service to the community evangelism at home and abroad, Christian education, Ecumenical action, local inter-church relations and the wider responsibilities of the whole Church.

Trustees and Governance

Elders (Trustees)

O L Adams D Brown S G Pickup S Barrett J Wright

S C Brown B A McCarron M Richards A Jansen

IFORD UNITED REFORMED CHURCH - 234230

Officers

B McCarron, Secretary I M Adams, Treasurer

Selection Method of the Council of Elders (Trustees)

All resident members of the Church are eligible to make nominations for the Eldership from a list of those eligible, displayed on the Church noticeboard for a period of four weeks, prior to the Annual General Meeting. Those nominated must be asked if they will accept ordination and nominations must be signed by two Church Members and placed in a sealed box. The elections shall be by ballot and each candidate must receive at least 50% of the votes of those present and voting. Under normal circumstances Elders shall be elected at the Annual General Meeting but any vacancy occurring at any time may be filled at any Church Meeting during the year. Elders shall serve for a period of three years from the date of election and are eligible for re-election at the end of that term.

Activities and Achievements

Maintaining public worship and pastoral care in the community to achieve the objectives of service and fostering Christian objectives in the community.

Policies

Reserves

Reserves consist of all retained income available to the Charity and exclude any designated funds that might exist in support of specific projects. These reserves of the Church are considered to be sufficient for the short term. However, due to the fact that all the Charity activities are mainly funded from weekly and monthly grants and donations from the Congregation, it is considered prudent that the Charity should build reserves that are sufficient to support, between at least six months to two years planned activities.

Designated funds are set up to provide for all major maintenance costs of the Church and Manse buildings.

Investments Selection

The policy is to adopt a low risk investment strategy based on maximum income and within this strategy; the Elders set a 2% income target return on investment.

Review of Major Risks

The Elders have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Church and are satisfied that procedures are in place to mitigate our exposure to the major risks. These procedures are periodically reviewed to ensure that they still meet the needs of the charity.

Grant-making Policy

The Elders maintain a policy and allocate funds to support good causes both locally, nationally and internationally.

IFORD UNITED REFORMED CHURCH - 234230

Signature and Declaration

I declare, in my capacity of Charity Trustee, that:

Signature ____ Date __

Full Name ____ Position ______

IFORD UNITED REFORMED CHURCH - 234230

Report of the Independent Examiner

Receipts and Payments Accounts

Report to the Trustees of: IFORD United Reformed Church On Accounts for the year ended: 31 December 2021 Set out on pages 7, 8 & 9 of this report.

The Charity Trustees are responsible for the presentation of the accounts. The Charity’s Trustees consider that an audit is not required for this year (under section 43(2) of the Charity Act 1993 (The Act) and that an Independent examination is needed.

It is my responsibility to:

Basis of Independent Examiner’s Statement

My examination was carried out in accordance with General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the accounts.

Independent Examiner’s Statement

In connection with my examination, no matter has come to my attention:

Signed ______ Date ___

Name ______

Address _______

IFORD UNITED REFORMED CHURCH - 234230

Receipts and Payments Accounts[1 ]

General Accounts - Receipts

2020
758
11,552
3,412
3
50
4,787
89
780
95
0
141
69
1,222
250
6,785
-
378
88
-
-		 2020
758
11,552
3,412
3
50
4,787
89
780
95
0
141
69
1,222
250
6,785
-
378
88
-
-		 2021
BUDGET
FREE WILL OFFERING2
Collection
1,750
Direct Deposit
10,000
Envelopes
3,000
Communion Fund
50
Gift Day
750
Tax Refund
4,000
FUNDRAISING3
Coffee Mornings
0
Quarterly Fayres
250
Harvest
150
Jumble Sales
-
Vision Fundraising
100
INVESTMENT ACCOUNT
Investment Account4
50
Wessex Trust5
1,500
LETTINGS
Friendship Centre
-
Lettings
12,500
OTHER INCOME
Claims – Church6
2,500
Donations8
2,500
Messenger
50
Miscellaneous
100
DONATIONS FOR
CHARITIES
Collections & Events9
100		 2021
ACTUAL
1,983
10,522
2,946
61
948
-
-
326
107
-
-
3
1,329
-
13,688
5,000
3,040
56
-
-
30,459 TOTAL GENERAL FUND RECEIPTS 40,009

IFORD UNITED REFORMED CHURCH - 234230

General Accounts – Payments

2020
110
13,926
800
330
1,217
350
-
99
90
475
1,409
524
4,294
347
561
2,092
2,947
680
529
566
625
540		 2021
BUDGET
MINISTRY & MISSION
Children's Ministry
100
Ministry & Mission Fund10
11,200
Organist
1,250
Pulpit Supply
500
CHURCH & GROUNDS
MAINTENANCE
Building GM Mainten11/12
10,000
Gardening
750
Piano / Organ Tuning
150
CHURCH EXPENSES
Advertising
250
Catering
100
Copyright
450
Health & Safety
500
Household & Cleaning
200
Insurance
4,500
Miscellaneous14
500
Printing & Stationery
750
CHURCH UTILITIES
Electricity
1,300
Gas
2,500
Refuse Removal
1,200
Telephone
650
Water
700
OTHER PAYMENTS
Charity Donations15
750
New Equipment
250		 2021
ACTUAL
-
11,142
1,300
540
11,370
900
-
156
-
456
289
100
4,511
784
707
1,245
2,351
1,155
600
682
650
38
32,511 TOTAL GENERAL FUND PAYMENTS 38,976

IFORD UNITED REFORMED CHURCH - 234230

Statement of Assets and Liabilities at Year End

Assets as at 31 December 2021

Fixed Assets16
Church Buildings
Contents of Church
Organ
Manse Building
Funds held by the URC Wessex Trust17
Charibond Income (1756 Units)
COIF Investment Income Units (2179.43 Units)
Current Account: NatWest
Savings Account: NatWest
Reserve
Savings Account: COIF
Invest Fund
Sundry Debits and Credits
Cash in Hand
Liabilities – 31 December 2021
None		 Wessex Trust17
Units)
Units (2179.43 Units)		 2,366,661
197,024
20,523
395,000
2,267
18,367

44,294
1
26,434
-
8
0

Signature and Approval

I declare, in my capacity of Charity Trustee, that:

Signature _____ Date ___

Full Name _________

I present the Accounts for your approval.

IFORD UNITED REFORMED CHURCH - 234230

Notes on the Financial Statements – 31 December 2021

1 Legal Status of Receipts and Payments Accounts The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP), ‘Accounting and Reporting by Charities’ published in 2005 and applicable accounting standards.

2 Free Will Offering

The main source of income for the Church is through regular donation from members and visitors in the form of weekly offerings. The free will offering is subdivided in five categories:

3

Fundraising

Fundraising events were held throughout the year to raise funds to cover the deficit in the church accounts, the maintenance on buildings and expenses to comply with health and safety regulations.

4 Investment Account Interest

This category shows the accumulated interest on the:

5 Wessex Trust Investment Income

Interest is paid directly into the Church accounts by the Wessex Trust. (See 17 below).

6 Church Claims

Church repair claims consist of grants and insurance claims received towards repair and maintenance work required on the Church buildings and grounds.

7 Manse Claims

Manse repair claims consist of grants and insurance claims received towards repair and maintenance work required on the Manse.

IFORD UNITED REFORMED CHURCH - 234230

8 Donations

This category holds other monies given to the Church on an ad hoc basis and includes:-

Friendship Centre £2,000
Dorothy Hutchinson £50
Jean Fleming £50
Anonymous Donation £40

9 Collections and Events

Donations received and earmarked for other charities are captured under this category. For Charity payments see note 15.

Bournemouth Food Bank £40

10 Ministry and Mission

The aim is that donations recorded under income received Free Will Offering – see 2 above will cover the contribution by Iford URC to the Ministry and Mission Fund.

11 Church Building Maintenance

Significant expenses towards building maintenance included:

Electrical Certificate Renewal £6,460
Roof Repair £2,160

12 General Maintenance

Expenses over £75 included:

Weather Board Replacement £250
Electrical Socket Replacement £80

13 Manse Garden and Maintenance

The Church can claim up to £500 per year for General Maintenance of the Manse.

£0

IFORD UNITED REFORMED CHURCH - 234230

14 Miscellaneous Expenses

Expenses over £50 included:

Christmas Candles Replacement £306
Replacement Keys £57

15 Charity Donations

The following charities were among those who benefited during this financial year from donations taken from the Church funds and from funds raised with special collections and donations – see note 9:

Bournemouth Food Bank £400
Children in Need £250

16 Fixed Assets

The value indicated corresponds with the insured amount for the Church building, Contents and Organ. The value shown for the Manse is similar to property in the same area, similar size and age.

17 Funds held by the United Reformed Church Wessex

Trust

The two funds are invested by the Wessex Trust. Interest earned on these funds is paid directly into the Church accounts (See 4 above).