IFORD UNITED REFORMED CHURCH Ropley Road, Bournemouth, BH7 6RU Tel: 01202 420443
## **Report and Financial Statements Year ended 31 December 2022 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 2022 ….|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**
- CCLA Investment Management Ltd, 80 Cheapside, London, EC2V 6DZ
- NatWest Bournemouth Castlepoint Centre, The Castlepoint Centre, Castle Lane West, Bournemouth, BH8 9UP
- Alliance Leicester, Girobank plc, Bootle, Merseyside, GIR 0AA
## **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 E Pickup
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:
- The Trustees have approved the report above; and
- Have authorised me to sign it on their behalf.
**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 2022 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:
- Examine the accounts (under section 43(3)(a) of the Act);
- Follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 43(7)(b) of the Act); and
- State whether particular matters have come to my attention.
## **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:
- Which gives me reasonable cause to believe that in any material respect the requirements:
- To keep accounting records in accordance with section 41 of the 1993 Act and
- To prepare accounts which accord with the accounting records and comply with the accounting requirements of the Act
- have not been met; or
- To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
**Signed ______________________________ Date _______________**
**Name ______________________________**
**Address _________________________________________________**
IFORD UNITED REFORMED CHURCH - 234230
## **Receipts and Payments Accounts[1 ]**
## **General Accounts - Receipts**
||**2021**
1,983
10,522
2,946
61
948
0
0
326
107
0
3
1,329
13,688
5,000
3,040
56
-
-|**2021**
1,983
10,522
2,946
61
948
0
0
326
107
0
3
1,329
13,688
5,000
3,040
56
-
-|**2022**
**BUDGET**
**FREE WILL OFFERING2 **
Collection
2,600
Direct Deposit
9,750
Envelopes
3,350
Communion Fund
250
Gift Day
500
Tax Refund
4,250
**FUNDRAISING3 **
Coffee Mornings
250
Quarterly Fayres
3,000
Harvest
150
Vision Fundraising
1,000
**INVESTMENT ACCOUNT**
Investment Account4
20
Wessex Trust5
1,480
**LETTINGS**
Lettings
15,000
**OTHER INCOME**
Claims – Church6
2,000
Donations8
2,000
Messenger
200
Miscellaneous
100
**DONATIONS FOR**
**CHARITIES**
Collections & Events9
1,000||**2022**
**ACTUAL**
2,158
9,392
4,408
218
320
3,679
-
3,460
165
36
258
952
16,614
17,607
7,445
195
-
130|
|---|---|---|---|---|---|
||**40,009**||**TOTAL GENERAL FUND RECEIPTS**||**67,037**|
IFORD UNITED REFORMED CHURCH - 234230
## **General Accounts – Payments**
||**2021**
0
11,142
1,300
540
11,370
900
-
156
0
456
289
100
4,511
784
707
1,245
2,351
1,155
600
682
650
38||**2022**
**BUDGET**
**MINISTRY & MISSION**
Children's Ministry
150
Ministry & Mission Fund10
13,750
Organist
2,400
Pulpit Supply
1,000
**CHURCH & GROUNDS**
**MAINTENANCE**
Building GM Mainten11/12
10,000
Gardening
500
Piano / Organ Tuning
500
**CHURCH EXPENSES**
Advertising
500
Catering
250
Copyright
500
Health & Safety
500
Household & Cleaning
500
Insurance
5,000
Miscellaneous14
1,500
Printing & Stationery
1,000
**CHURCH UTILITIES**
Electricity
2,400
Gas
2,600
Refuse Removal
950
Telephone
750
Water
750
**OTHER PAYMENTS**
Charity Donations15
750
New Equipment
250||**2022**
**ACTUAL**
-
13,716
2,475
720
4,577
640
288
387
215
514
382
344
4,740
648
739
1,723
2,441
972
706
758
1,135
37|
|---|---|---|---|---|---|
||**38,976**||**TOTAL GENERAL FUND PAYMENTS**||**38,157**|
IFORD UNITED REFORMED CHURCH - 234230
## **Statement of Assets and Liabilities at Year End**
## **Assets as at 31 December 2022**
|**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 2022
None|**Wessex Trust17**
Units)
Units (2179.43 Units)|2,366,661
197,024
20,523
395,000|
|---|---|---|
|||2,267
18,367|
|||
72,917
1
26,691
8|
|||0|
||||
## **Signature and Approval**
I declare, in my capacity of Charity Trustee, that:
- The Trustees have approved the report above; and
- • Have authorised me to sign it on their behalf.
Signature _________________________________ Date _________________
Full Name _________________________________
I present the Accounts for your approval.
IFORD UNITED REFORMED CHURCH - 234230
## **Notes on the Financial Statements – 31 December 2022**
**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:
- Collection – for loose change in the collection plates (no gift aid – as all donors are anonymous).
- Direct Deposit – amounts given to the church at regular intervals through standing orders.
- Envelopes – amounts given to the church at regular intervals through assigned numbered envelopes available to members and adherents.
- Gift Day – special gift day donations received from members on the church anniversary.
- Tax Reclaims – amount claimed from donations made through Gift Aid.
## **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:
- COIF Charities Deposit
- NatWest Reserved 14 day notice account
## **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:-
|Late J Thackray|£2,500|
|---|---|
|Late E Platt|£2,000|
|Friendship Centre|£1,735|
|Late J Fleming|£1,000|
## **9 Collections and Events**
Donations received and earmarked for other charities are captured under this category. For Charity payments see note 15.
DEC Ukraine £130
## **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:
|Roof Repair|£1,200|
|---|---|
|Boiler Repair|£845|
## **12 General Maintenance**
Expenses over £75 included:
|Side Door Replacement|£645|
|---|---|
|Rear Door Repairs|£425|
## **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:
|Replacement Lock and Keys|£170|
|---|---|
|2023 Donation Envelopes|£96|
|||
## **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|£380|
|---|---|
|Hope for Food|£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).