## **BEULAH UNITED REFORMED CHURCH**
## **ACCOUNTS**
## **YEAR ENDED 31 DECEMBER 2023**
**Williams Ross Limited Chartered Accountants CARDIFF**
**BEULAH UNITED REFORMED CHURCH**
## **INFORMATION YEAR ENDED 31 DECEMBER 2023**
|Principal Address|Beulah United Reformed Church||
|---|---|---|
||Beulah Road||
||Rhiwbina||
||Cardiff CF14 6LT||
|Trustees|Mr Huw Morgan (Chair)|(resigned 28 February 2023)|
||Mrs Ruth H Williams (Chair)|(appointed 28 February 2023)|
||Mrs Barbara Rhys (Church Treasurer)||
||Mr Colin Grimes||
||Mrs Eleri John||
||Mr Harley Jones||
||Mrs Fiona Reynolds||
|Bankers|CAF Bank Ltd||
||PO Box 280||
||West Malling||
||Kent||
||ME19 4TA||
|Independent Examiners|Williams Ross Limited||
||Chartered Accountants||
||4 Ynys Bridge Court||
||Gwaelod Y Garth||
||Cardiff||
||CF15 9SS||
|Charity Name|Beulah United Reformed Church||
|Charity Registration No.|236457||
## **BEULAH UNITED REFORMED CHURCH**
## **INDEX TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2023**
||**Page**|
|---|---|
|Annual Report|1 - 3|
|Independent Examiner's Report|4|
|Statement of Financial Activities|5|
|Balance Sheet|6|
|Notes to the Accounts|7-11|
|Schedules to the Accounts:||
|Detailed Income Statement - General Fund|12|
|Detailed Expense Statement - General Fund|13|
|Designated Funds - Movement in Year|14|
|Restricted Funds - Movement in Year|15|
## **BEULAH UNITED REFORMED CHURCH**
## **ANNUAL REPORT YEAR ENDED 31 DECEMBER 2023**
The trustees are pleased to present their annual report and accounts of the charity for the year ended 31 December 2023.
The accounts have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity's governing document, the Charitles Act 2011 and 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 published on 16 July 2014.
## **Treasurer's Review of the Year**
I and the Fnance Committee have continued to encourage members and friends to make their committed offerings via a monthly Standing Order but some prefer to make a BACS payment when they are able and we do receive the occasional cheque. The bank had increased its monthly administration fee but reduced it again to its original level for which we are grateful. However, they are now charging an administration fee if we bank in excess of £2,000.00 in cash in any one month. We have incurred this cost on more than one occasion as the majority of people still pay cash for our lunchtime concerts, for refreshments in the Whittaker Lounge and often use cash when we are fundraising for other charities, but we find that the card reader is being used more often than before.
Gift Aid is slightly down as our overall membership has decreased, but is still a sum of money which is an essential part of our annual income. I am pleased to report that our investments have turned the corner and in spite of decreasing during 2022, they have increased in value during 2023.
The Canolfan continues to be a busy place and the majority of those using the building have been with us for a very long time. It was therefore with a heavy heart that we had to increase our hourly rental rates early in the year and again in September to help us cover our increased costs.
In July we installed AV equipment to allow us to show family, community films in the Canolfan which we are hoping to do monthly going forward.
The Church, via our Eco Group, continues to campaign on reducing our carbon footprint and raising awareness of climate change and other environmental issues, and leading the way in showing us how we can help and be involved. We are working towards another Eco award for the Church and have been awarded a Green Flag Community Award for our Canolfan garden for the second year running.
As well as raising awareness, we have continued to raise funds for a number of local and global charities and this year we have been able to distribute a total of £17,565.52.
We were sad that our Chair, Huw Morgan, had to resign during the year due to ill health and he sadly passed away in October. He was a long-standing and well-loved member of the Finance Committee and his wise counsel has been very much missed. We are grateful to Ruth Williams for so willingly taking over the Chair.
Every member and friend of Beulah has helped to maintain the Church financially, and we have been able to meet our commitment to the M&M Fund and cover our other expenditure. My thanks to you all, and in particular to the members of the Finance Committee, for your continued support.
Summarising the funds for the year:
|Summarising the funds for the year:|||
|---|---|---|
|General Fund
Designated Funds
Total|**2023**
£
463,412
4,572
467,984|**2022**
£
405,313
5,898|
|||411,211|
- 1 -
## **BEULAH UNITED REFORMED CHURCH**
## **ANNUAL REPORT YEAR ENDED 31 DECEMBER 2023**
Whilst the general fund is at a reasonable level, it is felt that such funds could be called upon in coming years given the ever increasing costs that will need to be met.
## **Main Objects**
To foster and finance the religious and charitable objectives of the Church.
## **Constitution**
Beulah United Reformed Church is a member of the Wales Synod of the United Reformed Church (URC) being the URC as defined in the URC Act 1972 and now a National Synod as amended by the URC Act 2000.
## **Public Benefit Statement**
The trustees are aware of the Charity Commission's guidance on public benefit in 'The Advancement of Religion for the Public Benefit' and has regard to it in the administration of the Church.
They believe that the Church provides benefit to the public by:
- providing resources and facilities for public worship, pastoral care and spiritual, moral and intellectual development both for the congregation and for anyone else who wishes to benefit from what the Church offers.
promoting Christian values and service by members of the congregation to the community, for the benefit of individuals and society as a whole.
## **Reserves Policy**
The general fund reserves policy is to retain prudent levels of funding to maintain the religious and charitable work of the Church.
As detailed in note 1 above, the total balance held in unrestricted funds as at the balance sheet date was £467,984 (2022 - £411,211). This amount is held to cover for financial commitments that the church will have to meet in the future including, specifically, church and manse maintenance.
Budgets are prepared each year with actual income and expenditure being monitored against the budgets.
## **Investment Policy and Performance**
The investment policy is implemented by the Finance Committee. The Committee considers the most appropriate policy for investing funds and has found that specialised equity, fixed interest and government stock investment, designed for the charity sector, meets the requirements to generate both income and capital growth.
For the year under review there was a net unrealised gain on revaluation amounting to £22,350 (2022 - overall revaluation loss of £38,770). These gains are in line with general stock market movements for the year under review. The investment policy is under review in order to try to maintain the difficult balance in today's economic situation of seeking to mitigate losses as far as possible in the future whilst attempting to obtain the best income and capital growth to support church's main objects.
## **Risk Management Policy**
The consideration of financial risk is undertaken by the Finance Committee. Other risk assessments are undertaken by Elders, Health and Safety Group and Premises Management Committee. The major potential financial risks which could arise are considered to be in relation to unexpected significant loss of income or unbudgeted expenditure together with potential losses on church investments. Non financial risk areas would include fire risk, health & safety issues etc.
Reviews have been carried out to assess risks in certain areas of operation and it is intended that further reviews are undertaken to provide a comprehensive assessment of potential key risk areas and to ensure that relevant procedures put in place to mitigate those risks.
- 2 -
## **BEULAH UNITED REFORMED CHURCH**
## **ANNUAL REPORT YEAR ENDED 31 DECEMBER 2023**
## **Related Parties**
No trustees received any remuneration or other recompense from the Church in their capacity as trustees.
## **Statement of Trustees' Responsibilities**
The Finance Committee, who are trustees for the purposes of charity law, are responsible for the preparation of the accounts for each financial year which give a true and fair view of the church's state of affairs as at the balance sheet date and of its financial activities for that period. In preparing those accounts the trustees are required to:
- select suitable accounting policies and then apply them consistently; make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts; prepare the accounts on a going concern basis unless it is inappropriate to presume that the church will continue to operate.
The Finance Committee are responsible for keeping proper accounting records which disclose, with reasonable accuracy, at any time the church's financial position and enable them to ensure that the accounts comply with the Charities Act 2011. They are also responsible for safeguarding the church's assets and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Independent Examiners**
Williams Ross Limited, Chartered Accountants have indicated their willingness to accept re-appointment as independent examiners for a further term.
Signed on behalf of the Finance Committee
**----- Start of picture text -----**
………………………………………… …………………………………………
Ruth H Williams - Chair Date
**----- End of picture text -----**
- 3 -
## **INDEPENDENT EXAMINER'S REPORT TO THE ELDERS OF BEULAH UNITED REFORMED CHURCH**
We report on the accounts of the Church for the year ended 31 December 2023, which are set out on pages 5 to 11.
## **Respective responsibilities of trustees and examiner**
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is our responsibility to:
- examine the accounts (under section 145 of the 2011 Act);
- to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act); and to state whether particular matters have come to our attention.
## **Basis of independent examiner’s report**
Our examination was carried out in accordance with the 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 you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently we do not express an audit opinion on the view given by the accounts.
Your attention is drawn to the fact that the charity has prepared the accounts in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in the UK and Republic of Ireland preparing their accounts in accordance with the Financial Reporting Standard (FRS 102) issued on 16 July 2014 and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.
We understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
## **Independent examiner’s statement**
In connection with our examination, no matter has come to our attention:
- (1) which gives us reasonable cause to believe that in any material respect the requirements to keep accounting records in accordance with section 130 of the 2011 Act; and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
(2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Sian Marshall for and on behalf of **Williams Ross Limited Chartered Accountants**
4 Ynys Bridge Court Gwaelod Y Garth Cardiff CF15 9SS
Date …………………………………………
- 4 -
## **BEULAH UNITED REFORMED CHURCH**
## **STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2023**
|**INCOME**
**Voluntary Income**
Committed Offerings
Loose Collections
Junior Church Offerings
Gift Aid Tax Reclaim
Fund Raising
Other donations / loans
Sundry income
**Investment Income**
Interest (all accounts)
**Trading Income**
Counter Receipts
**Other Income**
Use of Premises
Grants receivable
**Total incoming resources**
**EXPENDITURE**
**Costs of Raising Funds**
Supplies and Direct Costs
**Charitable Activities**
M & M Contribution
Ministry
Premises Costs
Charitable Donations
Other Outgoings
Independent Examiner's fee
**Total resources used**
**Net income / (expenditure)**
Transfers between funds
**Net movement in funds**
**Reconciliation of funds**
Balances at beginning of year
**Balances at end of year**
Net gains (losses) on
investments|**Total**
**Funds**
£
53,993
1,539
3
12,718
9,709
38,921
6,420
11,141
3,463
42,293
-
**180,200**
11,895
66,720
7,861
41,455
17,566
12,029
1,020
**158,546**
22,350
**44,004**
-
**44,004**
431,424
**475,428**|**Restricted**
**General**
**Designated**
**Funds**
£
£
£
53,993
-
-
1,539
-
-
3
-
-
12,718
-
-
-
4,912
4,797
38,732
189
-
6,420
-
-
11,141
-
-
3,463
-
-
42,293
-
-
-
-
-
170,302
5,101
4,797
3,742
8,153
-
66,720
-
-
7,861
-
-
41,455
-
-
-
-
17,566
12,029
-
-
1,020
-
-
132,827
8,153
17,566
22,350
-
-
**59,825**
**(3,052)**
**(12,769)**
(1,726)
1,726
-
58,099
(1,326)
(12,769)
405,313
5,898
20,213
463,412
4,572
7,444
**2023**
**Unrestricted Funds**|**2022**
**Total Funds**
£
53,264
1,602
30
13,313
14,596
25,798
39,979
5,284
2,271
38,824
-|
|---|---|---|---|
||||**194,961**|
||||6,109
66,720
14,219
36,170
14,163
12,259
1,020|
||||**150,660**|
||||(38,770)|
||||**5,531**
-|
||||**5,531**
425,893|
||||**431,424**|
- 5 -
## **BEULAH UNITED REFORMED CHURCH**
## **BALANCE SHEET 31 DECEMBER 2023**
|**Note**
**FIXED ASSETS**
Tangible Assets
2
Investments
3
**NET CURRENT ASSETS**
Debtors
4
COIF Deposit Account
Cash in bank
**LESS: CURRENT LIABILITIES**
5
**NET CURRENT ASSETS**
**TOTAL NET ASSETS**
Representing
**FUNDS**
General fund
Designated funds
Restricted funds
**TOTAL FUNDS**|£
£
19,767
283,052
302,819
6,119
166,639
7,106
179,864
7,255
172,609
**475,428**
463,412
4,572
7,444
**475,428**
**2023**|£
£
-
260,701
260,701
5,173
141,639
29,312
176,124
5,401
170,723
**431,424**
405,313
5,898
20,213
**431,424**
**2022**|£
£
-
260,701
260,701
5,173
141,639
29,312
176,124
5,401
170,723
**431,424**
405,313
5,898
20,213
**431,424**
**2022**|
|---|---|---|---|
||||260,701
170,723|
|||176,124
5,401||
|||||
||||**431,424**|
||||405,313
5,898
20,213|
||||**431,424**|
Approved by the finance committee on …………………………………… and signed on their behalf by:
…………………………………. Ruth H Williams - Chair
…………………………………. Barbara A Rhys - Treasurer
- 6 -
## **BEULAH UNITED REFORMED CHURCH**
## **NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2023**
## **1 ACCOUNTING POLICIES**
The accounts have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
The particular accounting policies used are described below.
- a) **Donations**
Donations are accounted for gross when received.
- b) **Legacies**
Legacies are accounted for when their receipt is certain and can be properly quantified.
- c) **Investment Income**
Investment income is included in the accounts in the year in which it is receivable.
## d) **Grants payable**
The Church makes grants to other organisations whose charitable objects complement its work. They are accounted for in the year in which they are paid.
- e) **Classification of funds**
Funds are classified according to the manner in which they are allowed to be spent. The General Fund deals with funds that can be spent generally for furthering the religious and charitable work of the church.
Designated funds are funds which have been set aside for specific purposes but which can be returned to the General Fund at any time if Church Meeting so decides.
Restricted funds are funds whose use is restricted according to the terms on which they were received; for example, collections for specific causes, or properties the proceeds of a sale of which cannot be used without the approval of URC Synod for Wales.
## f) **Tangible fixed assets**
The church buildings, and fixtures and fittings considered to be an integral part of the building, together with the manse, are not capitalised in the accounts as the beneficial ownership of the assets rests with the URC (Wales) Trust Co Ltd. Details of approximate market value, or failing that, insurance cover values are set out in Note 2 (b) of the accounts.
Other fixed assets are stated at estimated market value or cost, except that items costing less than £250 are written off in the year of purchase.
Depreciation is calculated at the following percentages on cost or valuation:
Solar panels - 10% straight line Church improvements - 5% straight line Office equipment - 10% straight line
## g) **Investments**
Investments are stated at their market value as at the balance sheet date.
- 7 -
**BEULAH UNITED REFORMED CHURCH**
## **NOTES TO THE ACCOUNTS (continued) YEAR ENDED 31 DECEMBER 2023**
## **2 TANGIBLE FIXED ASSETS**
|**Cost or valuation**
At 1 January 2023
Additions during the year
Revaluation Surplus
At 31 December 2023
**Depreciation**
At 1 January 2023
Charged during the year
At 31 December 2023
**Net book value**
At 31 December 2023
At 31 December 2022|**Solar**
**Church**
**Office**
**panels**
**Improvements**
**Equipment**
£
12,724
14,511
3,491
-
9,140
11,011
-
-
-
12,724
23,651
14,502
12,724
14,511
3,491
-
-
384
12,724
14,511
3,875
-
9,140
10,627
-
-
-|**Total**
£
30,726
20,151
-|
|---|---|---|
|||50,877|
|||30,726
384|
|||31,110|
|||19,767|
|||-|
As detailed in accounting policy Note 1(f), no values are included in these accounts for either the Church, Manse or Canolfan. The only values currently available are those for the current insurance cover. These values, as at the balance sheet date are £2,264,480 for the church, £405,492 for the manse and £2,837,494 for the Canolfan. The beneficial ownership of the Church, Manse and Canolfan Beulah rest with the URC (Wales) Trust Co Ltd.
## **3 INVESTMENTS**
|**General Fund**
Columbia Threadneedle
- Responsible Global Equity Fund
- Responsible UK Equity Fund
- Responsible UK Income Fund
COIF - Ethical Investment Fund (Cost - £114,868)
**Total investments - at market value**
**4**
**DEBTORS**
Income receivable
Prepayments|**2023**
£
283,052
283,052
**2,023**
£
3,761
2,358
6,119|**2022**
£
260,701|
|---|---|---|
|||260,701|
|||**2,022**
£
5,025
148|
|||5,173|
- 8 -
## **BEULAH UNITED REFORMED CHURCH**
## **NOTES TO THE ACCOUNTS (continued) YEAR ENDED 31 DECEMBER 2023**
## **5 CURRENT LIABILITIES**
|Accruals
Heat & Light
Cleaning
Ministers expenses
Independent Examiner's Fees
Bank charges
Income received in advance|**2023**
**£**
1,838
672
2,527
1,020
19
1,179
7,255|**2022**
**£**
1,611
-
2,751
1,020
19
-|
|---|---|---|
|||5,401|
## **6 TRANSACTIONS WITH TRUSTEES**
The church made no payments to any individuals deemed to be trustees in their capacity as trustees (2022 - Nil).
## **7 INDEPENDENT EXAMINER**
The fee charged for the year is £1,020 including VAT (2022 - £1,020).
## **8 MOVEMENT IN FUNDS**
|**MOVEMENT IN FUNDS**||||||
|---|---|---|---|---|---|
|**Unrestricted - General Fund**
**Designated Funds:**
Christmas Lunch
Youth Fellowship / Travel
Holiday Club
Concerts
Paradise Run
Flower Fund
Beulah tots
Warm Spaces
**Restricted -**
K.I.N.
**Summary of the above**
Unrestricted
General
Designated
Restricted|**At 1 January**
**2023**|**Income**|**Expenditure**|**Other**
**Movements**
20,624
-
-
-
-
-
-
-
1,726
1,726
-
-
22,350
20,624
1,726
-
22,350|**At 31 December**
**2023**|
||405,313
237
1,189
342
4,004
(122)
148
100
-|170,302
-
-
139
4,912
-
50
-
-|(132,827)
(65)
(86)
-
(6,276)
-
-
-
(1,726)||463,412
172
1,103
481
2,640
(122)
198
100
-|
||5,898|5,101|(8,153)||4,572|
||20,213|4,797|(17,566)||7,444|
||20,213|4,797|(17,566)||7,444|
|||||||
||431,424|180,200|(158,546)||475,428|
||405,313
5,898
20,213|170,302
5,101
4,797|(132,827)
(8,153)
(17,566)||463,412
4,572
7,444|
||431,424|180,200|(158,546)||475,428|
- 9 -
## **BEULAH UNITED REFORMED CHURCH**
## **NOTES TO THE ACCOUNTS (continued) YEAR ENDED 31 DECEMBER 2023**
|**9**
**ANALYSIS OF NET ASSETS BETWEEN FUNDS**
**Unrestricted - General Fund**
**Designated Funds:**
Christmas Lunch
Youth Fellowship
Holiday Club
Concerts
Paradise Run
Flower Fund
Beulah Tots
Warm Spaces
**Restricted -**
K.I.N.
**Summary of the above**
Unrestricted
General
Designated
Restricted|**Tangible Fixed**
**Assets**|**Investments**|**Net Current**
**Assets**
160,593
172
1,103
481
2,640
(122)
198
100
-
4,572
7,444
7,444
172,609
160,593
4,572
7,444
172,609|**At 31 December**
**2023**|
|---|---|---|---|---|
||19,767
-
-
-
-
-
-
-
-|283,052
-
-
-
-
-
-
-
-||463,412
172
1,103
481
2,640
(122)
198
100
-|
||-|-||4,572|
||-|-||7,444|
||-|-||7,444|
||||||
||19,767|283,052||475,428|
||19,767
-
-|283,052
-
-||463,412
4,572
7,444|
||19,767|283,052||475,428|
- 10 -
**BEULAH UNITED REFORMED CHURCH**
## **NOTES TO THE ACCOUNTS (continued) YEAR ENDED 31 DECEMBER 2023**
## **11 DETAILED BREAKDOWN OF COMPARATIVE INCOME AND EXPENDITURE - YEAR ENDED 31 DECEMBER 2022**
|**INCOME**
**Charitable Activities**
Committed Offerings
Loose Collections
Junior Church Offerings
Covenant Tax Reclaim
Fund Raising
Other donations/loans
Sundries
**Investment Income**
Interest (all accounts)
**Trading Income**
Counter Receipts
**Other Income**
Use of Premises
Grants receivable
**Total incoming resources**
**EXPENDITURE**
**Costs of Raising Funds**
Supplies and Direct Costs
**Charitable Activities**
M & M Contribution
Ministry
Premises Costs
Charitable Donations
Other Outgoings
Independent Examiner's fee
**Total resources used**
**Net Income / (expenditure)**
Transfers between funds
**Net Movement in Funds**
**Reconciliation of funds**
Balances at beginning of year
**Balances at end of year**
Net gains (losses) on
investments|**Total**
**Funds**
£
53,264
1,602
30
13,313
14,596
25,798
39,979
5,284
2,271
38,824
-
194,961
6,109
66,720
14,219
36,170
14,163
12,259
1,020
**150,660**
(38,770)
**5,531**
-
**5,531**
425,893
**431,424**|**Restricted**
**General**
**Designated**
**Funds**
£
£
£
53,264
-
-
1,602
-
-
30
-
-
13,313
-
-
-
2,454
12,142
3,420
1,100
21,278
39,979
-
-
5,284
-
-
2,271
-
-
38,824
-
-
-
**Unrestricted Funds**|
|---|---|---|
|||157,987
3,554
33,420|
|||2,740
3,369
-
66,720
-
-
14,219
-
-
36,170
-
-
-
-
14,163
12,259
-
-
1,020
-
-|
|||133,128
3,369
14,163|
|||(38,770)
-
-|
|||**(13,911)**
**185**
**19,257**
400
100
(500)|
|||(13,511)
285
18,757
418,824
5,613
1,456|
|||405,313
5,898
20,213|
This page is included as a requirement of current accounting standards. It gives a detailed breakdown of the prior year income and expenditure as shown in summary on the SOFA on page 5.
- 11 -
## **BEULAH UNITED REFORMED CHURCH**
## **GENERAL FUND - Detailed Incoming Resources and Results YEAR ENDED 31 DECEMBER 2023**
|**INCOMING RESOURCES**
Committed Offerings
Loose Collections
Junior Church offerings
Gift Aid
Use of Premises:
Manse
Outside Lettings
Interest on Accounts:
Bank Interest (including Deposit a/c)
Investments
Other Income:
Insurance claim
Grant (URC (Wales) Trust)
Ministers expenses reimbursement
Bequests
Donations
Weddings & Funerals
Solar panels
Private Photocopying / Sundry Items
Whittaker Lounge: Counter Receipts
**Total Incoming Resources**
**Deduct:**Resources Used_(page 13)_
Net Incoming Resources
Transfer (to)/from Designated Fund
Revaluation surplus / (deficit)
Balance at beginning of year
**Balance at end of year**|**Actual**
**2022**
**£**
53,264
1,602
30
13,313
68,209
13,536
25,288
38,824
1,167
4,117
5,284
33,303
-
5,249
-
1,437
-
1,983
1,427
43,399
2,271
**157,987**
(133,128)
24,859
400
(38,770)
418,824
**405,313**|**Actual**
**2023**
**£**
53,993
1,539
3
12,718
68,253
13,536
28,757
42,293
6,896
4,245
11,141
-
-
2,984
30,000
5,590
-
3,142
3,436
45,152
3,463
**170,302**
(132,827)
37,475
(1,726)
22,350
405,313
**463,412**|**Budget**
**2023**
**£**
59,000
1,500
50
13,500|
|---|---|---|---|
||||74,050|
||||13,536
35,000|
||||48,536|
||||700
4,000|
||||4,700|
||||-
1,500
7,420
5,000
100
2,000
2,500
100|
||||18,620.00|
||||2,200|
||||**148,106**
(206,175)|
||||(58,069)
-
-
405,313|
||||**347,244**|
- 12 -
## **BEULAH UNITED REFORMED CHURCH**
## **GENERAL FUND - Detailed Resources Used YEAR ENDED 31 DECEMBER 2023**
|**Ministry:**
M & M Fund
Ministers expenses (net)
Pulpit Supply
**Premises Costs - Church & Canolfan:**
Cleaning & Caretaking
Repairs & Maintenance
Heat & Light, Water, Telephone
Insurance (Church & Canolfan Beulah)
Furniture & Equipment
**Premises Costs - Manse:**
Repairs & Maintenance
Insurance / Council Tax / Water
**Whittaker Lounge:**
Donations
Supplies
Furniture & Equipment
Repairs & Maintenance
Refurbishment
**Other Expenses:**
Organ, Piano, Music etc.
Worship Material
Publicity
Training
Church Office & Secretary's Expenses
Bookings manager
Part-time Administrator
Bank & Accountancy Charges
Children's & Youth Work (inc Junior Church)
Young Person's Travel Fund
Art projects
Garden
Payment to URC (Wales) Trust
Sundry Expenses
Hardship fund
Depreciation
**TOTAL RESOURCES USED**_(to page 12)_|**Actual**
**2,022**
£
66,720
14,004
215
80,939
10,863
9,929
9,269
4,130
1,425
35,616
120
434
554
-
2,523
217
-
-
2,740
1,333
419
-
-
3,546
-
548
1,281
1,121
500
3,077
20
200
1,234
-
-
13,279
**133,128**|**Actual**
**2,023**
£
66,720
7,847
14
74,581
13,655
2,935
13,093
4,576
560
34,819
6,120
516
6,636
-
3,742
-
-
-
3,742
1,713
622
-
-
2,382
1,250
-
1,148
995
-
2,781
-
-
1,774
-
384
13,049
**132,827**|**Budget**
**2023**
£
67,000
14,000
400|
|---|---|---|---|
||||81,400|
||||15,000
32,000
12,500
4,500
2,000|
||||66,000|
||||25,000
470|
||||25,470|
||||100
3,000
200
250
3,000|
||||6,550|
||||1,500
650
500
200
3,600
-
-
1,500
10,750
750
3,000
100
705
500
3,000
-|
||||26,755|
||||**206,175**|
- 13 -
## **BEULAH UNITED REFORMED CHURCH**
## **DESIGNATED FUNDS - Detailed Movements in Year YEAR ENDED 31 DECEMBER 2023**
|**INCOMING RESOURCES**
Donations
Fund Raising / Ticket Sales
TOTAL
**RESOURCES USED**
Artist's Fees / Artwork
Supplies
**TOTAL**
Resources before Transfers
Transfer of Funds
Net Resources (after transfers)
Revaluation surpluses (deficits)
Balance at beginning of year
**Balance at end of year**
**INCOMING RESOURCES**
Donations
Fund Raising / Ticket Sales
TOTAL
**RESOURCES USED**
Artist's Fees / Artwork
Supplies
**TOTAL**
Resources before Transfers
Transfer of Funds
Net Resources (after transfers)
Balance at beginning of year
**Balance at end of year**|-
50
-
-
-
-
**Christmas**
**Lunch**
**Youth**
**Fellowship**
**Flower**
**Fund**|139
-
-
4,912
**Holiday**
**Club**
**Concerts**|**Subtotal**
189
4,912|
|---|---|---|---|
||-
50
-|139
4,912|**5,101**|
||-
-
-
65
-
86|-
6,276
-
-|6,276
151|
||65
-
86|-
6,276|**6,427**|
||(65)
50
(86)
-
-
-|139
(1,364)
-
-|(1,326)
-|
||(65)
50
(86)
-
-
-
237
148
1,189|139
(1,364)
-
-
342
4,004|**(1,326)**
-
5,920|
||**172**
**198**
**1,103**|**481**
**2,640**|**4,594**|
||-
-
-
-
-
-
**Paradise**
**Run**
**Beulah**
**Tots**
**Warm**
**Spaces**|**Total**
**2023**
189
4,912
**5,101**
6,276
1,877
**8,153**
(3,052)
1,726
(1,326)
5,898
**4,572**|**Total**
**2022**
1,100
2,454|
||-
-
-||**3,554**|
||-
-
-
-
-
1,726||2,777
592|
||-
-
1,726||**3,369**|
||-
-
(1,726)
-
-
1,726||185
100|
||-
-
-
(122)
100
-||285
5,613|
||**(122)**
**100**
**-**||**5,898**|
- 14 -
## **BEULAH UNITED REFORMED CHURCH**
## **RESTRICTED FUNDS - Detailed Movements in Year**
## **YEAR ENDED 31 DECEMBER 2023**
|**K.I.N.**
**INCOMING RESOURCES**
Bequest
Fund Raising
**RESOURCES USED**
Charities
TOTAL
Resources before Transfers
Transfer of Funds
Net Resources (after transfers)
Revaluation surpluses (deficits)
Balance at beginning of year
**Balance at end of year**|**2023**
£
-
4,797
4,797
17,566
17,566
(12,769)
-
(12,769)
-
20,213
**7,444**|**2022**
£
21,278
12,142|
|---|---|---|
|||33,420|
|||14,163|
|||14,163|
|||19,257
(500)|
|||18,757
-
1,456|
|||**20,213**|
- 15 -