Charity Registration No. 237556
FIRST CHURCH OF CHRIST, SCIENTIST, BOURNEMOUTH
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
4 Brackley Close Bournemouth International Airport Christchurch Dorset BH23 6SE
FIRST CHURCH OF CHRIST, SCIENTIST, BOURNEMOUTH
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mr A C Duits Mrs V C Reed Mrs C J Jackson Mr P B Jackson Charity number 237556 Principal address 4 Carbery Row Southbourne Road Bournemouth Dorset BH6 3QR Independent examiner Harrisons Chartered Accountants 4 Brackley Close Bournemouth International Airport Christchurch Dorset BH23 6SE
FIRST CHURCH OF CHRIST, SCIENTIST, BOURNEMOUTH
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 13 |
FIRST CHURCH OF CHRIST, SCIENTIST, BOURNEMOUTH
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees present their annual report and financial statements for the year ended 31 December 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities 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 (FRS 102) (effective 1 January 2019)".
Objectives and activities
The object of the charity is to provide a platform within our community to discover the teachings of Christian Science by providing for the public Church Services, a Sunday School, free lectures and a Reading Room. The activities of the church are guided by the Manual of The Mother Church but the branch church shall have its own form of government which is distinctly democratic. We adhere to the principles of equal rights for all, equality of the sexes and rotation in office. Its Charity Trustees are the Executive Board which acts according to the instructions of the church membership in quarterly or special meetings and in accord with the Church By-Laws. The Executive Board is elected annually in accordance with the Church By-Laws.
All general expenses of the charity are usually met by collections at Sunday Services, by Gift Aid donations,
legacies and interest from investments.
The trustees believe that the charity meets the public benefit requirements and have complied with the duty in section 4 of the 2011 Act.
Achievements and performance
The main focus of our work for the community is in giving spiritual inspiration and support through our church services and meetings to which all are welcome and in providing a haven of rest in our Reading Room where people may come to learn about God’s care and guidance in their lives.
Our church is well situated amongst a busy parade of shops in the community. This year we have continued to hold regular services and meetings in our church where everyone is welcome, and have continued to transmit online via zoom to enable people from all over to tune in. A Sunday school for children and teenagers is also available in the church building at the same time as the Sunday service. We are grateful to reach not only our local congregation but many others around the country and internationally.
Our Reading Room has been open to the public five days a week either in the morning or the afternoon. Church members and visitors alike have been able to call in to read, borrow or purchase inspiring books and literature, or to sit and talk to the librarians about any questions or any problems they may have, to seek support and to gain a better understanding of God and His love for us all. Even our lovely window displays have attracted attention from passers-by.
In 2023 we have published two articles in the local community magazine, introducing our church and its services and meetings to our neighbours.
Every year we hold a Christian Science lecture as a gift to the community to which all are invited. This year the lecture was held online and could be accessed via our website by our members, families, friends and individuals. We also held a group viewing at our church. Everyone was welcome. The lecture was widely advertised and the live broadcast and the subsequent recording were enjoyed by a large number of people, both here and abroad.
Financial review
The charity made an overall surplus of £25,697 (2022: £1,252).
The unrestricted funds are in surplus by £827,775 (2022: £801,869). The general fund is available for use at the discretion of the trustees in furtherance of the general objectives of the charity. The majority of the reserves have been invested in income bonds to be used when appropriate replacement premises are located.
The designated freehold property fund represents unrestricted funds utilised at the discretion of the trustees for the purpose of purchasing and improving the freehold property. Freehold property purchases and improvements, together with revaluation gains and losses on this property, are retained as part of this fund.
- 1 -
FIRST CHURCH OF CHRIST, SCIENTIST, BOURNEMOUTH
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Restricted | Total | ||
|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||||
| 2023 | 2023 | 2023 | 2022 | 2022 | 2022 | |||
| Notes | £ | £ | £ | £ | £ | £ | ||
| Income from: | ||||||||
| Donations and legacies | 3 | 10,992 | 2,633 | 13,625 | 9,568 | 1,216 | 10,784 | |
| Charitable activities | 4 | 4,532 | - | 4,532 | 4,339 | - | 4,339 | |
| Investments | 5 | 35,635 | - | 35,635 | 15,533 | - | 15,533 | |
| Total income | 51,159 | 2,633 | 53,792 | 29,440 | 1,216 | 30,656 | ||
| Charitable activities | 6 | 25,253 | 2,842 | 28,095 | 28,397 | 1,007 | 29,404 | |
| Net income/(expenditure) | 25,906 | (209) | 25,697 | 1,043 | 209 | 1,252 | ||
| Transfers between | ||||||||
| funds | - | - | - | (1,261) | 1,261 | - | ||
| Net movement in | ||||||||
| funds | 25,906 | (209) | 25,697 | (218) | 1,470 | 1,252 | ||
| Reconciliation of funds: | ||||||||
| Fund balances at 1 January | ||||||||
| 2023 | 801,869 | 1,470 | 803,339 | 802,087 | - | 802,087 | ||
| Fund balances at 31 | ||||||||
| December 2023 | 827,775 | 1,261 | 829,036 | 801,869 | 1,470 | 803,339 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 4 -
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Fixed assets | |||||
| Tangible assets | 10 | 9,982 | 9,207 | ||
| Current assets | |||||
| Stocks | 11 | 2,254 | 1,568 | ||
| Debtors | 12 | 8,702 | 1,542 | ||
| Investments | 13 | 793,599 | 783,442 | ||
| Cash at bank and in hand | 17,638 | 9,754 | |||
| 822,193 | 796,306 | ||||
| Creditors: amounts falling due within | |||||
| one year | 14 | (3,139) | (2,174) | ||
| Net current assets | 819,054 | 794,132 | |||
| Total assets less current liabilities | 829,036 | 803,339 | |||
| Funds of the charity | |||||
| Restricted funds | IS | 1,261 | 1,470 | ||
| Unrestricted funds | 17 | 827,775 | 801,869 | ||
| 829,036 | 803,339 | ||||
| The financial statements were approved by the Trustees on 22"4 | APr 2024 |
FIRST CHURCH OF CHRIST, SCIENTIST, BOURNEMOUTH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
1 Accounting policies
Charity information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 4 Carbery Row, Southbourne Road, Bournemouth, BH6 3QR.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Charities 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 (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 applying FRS 102 Update Bulletin 1 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 financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees 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 trustees in furtherance of their charitable objectives.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. 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 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.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 6 -
FIRST CHURCH OF CHRIST, SCIENTIST, BOURNEMOUTH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings 2% per annum Equipment 3 years straight line
Freehold land is not depreciated.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
1.9 Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
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.
- 7 -
FIRST CHURCH OF CHRIST, SCIENTIST, BOURNEMOUTH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations and legacies
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| 2023 | 2023 | 2023 | 2022 | 2022 | 2022 | |
| £ | £ | £ | £ | £ | £ | |
| Donations and collections | 7,656 | 2,633 | 10,289 | 6,252 | 1,216 | 7,468 |
| Legacies receivable | - | - | - | 1,000 | - | 1,000 |
| Covenants | 1,249 | - | 1,249 | 1,020 | - | 1,020 |
| Gift aid income | 2,087 | - | 2,087 | 1,296 | - | 1,296 |
| 10,992 | 2,633 | 13,625 | 9,568 | 1,216 | 10,784 |
4 Income from charitable activities
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2023 | 2022 | |
| £ | £ | |
| Sale of goods | 4,532 | 4,339 |
5 Income from investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2023 | 2022 | |
| £ | £ | |
| Rent receivable | 10,311 | 10,274 |
| Interest receivable | 25,324 | 5,259 |
| 35,635 | 15,533 |
- 8 -
FIRST CHURCH OF CHRIST, SCIENTIST, BOURNEMOUTH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
6 Charitable activities
| Church | Church | Reading |
Reading |
Reading |
Total | Church | Church | Church | Reading | Reading | Reading | Total | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| activities | room | 2023 | activities | room | 2022 | |||||||||||||
| 2023 | 2023 | 2022 | 2022 | |||||||||||||||
| £ | £ | £ | £ | £ | £ | |||||||||||||
| Charitable activities | 3,174 | 7,878 | 11,052 | 2,749 | 5,870 | 8,619 | ||||||||||||
| Share of support costs (see | ||||||||||||||||||
| note 7) | 9,147 | 6,384 | 15,531 | 8,578 | 10,572 | 19,150 | ||||||||||||
| Share of governance costs | ||||||||||||||||||
| (see note 7) | 1,512 | - | 1,512 | 1,635 | - | 1,635 | ||||||||||||
| 13,833 | 14,262 | 28,095 | 12,962 | 16,442 | 29,404 | |||||||||||||
| Analysis by fund | ||||||||||||||||||
| Unrestricted funds | 13,833 | 11,420 | 25,253 | 12,962 | 15,435 | 28,397 | ||||||||||||
| Restricted funds | - | 2,842 | 2,842 | - | 1,007 | 1,007 | ||||||||||||
| 13,833 | 14,262 | 28,095 | 12,962 | 16,442 | 29,404 | |||||||||||||
| Support costs | ||||||||||||||||||
| Support | Governance |
2023Support costs | Governance | 2022 | ||||||||||||||
| costs | costs | costs | ||||||||||||||||
| £ | £ | £ | £ | £ | £ | |||||||||||||
| Church activities | 15,531 | - | 15,531 | 19,150 | - | 19,150 | ||||||||||||
| Legal and professional | - | 1,512 | 1,512 | - | 1,635 | 1,635 | ||||||||||||
| 15,531 | 1,512 | 17,043 | 19,150 | 1,635 | 20,785 | |||||||||||||
| Analysed between | ||||||||||||||||||
| Charitable activities | 15,531 | 1,512 | 17,043 | 19,150 | 1,635 | 20,785 |
7 Support costs
Governance costs includes independent examination fees of £1,512 (2022- £1,560).
8 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
9 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
- 9 -
FIRST CHURCH OF CHRIST, SCIENTIST, BOURNEMOUTH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
| 10 | Tangible fixed assets | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Freehold land | Equipment | Total | |||||||
| and | buildings | ||||||||
| £ | £ | £ | |||||||
| Cost | |||||||||
| At 1 January 2023 | 25,376 | 753 | 26,129 | ||||||
| Additions | - | 1,859 | 1,859 | ||||||
| At 31 December 2023 | 25,376 | 2,612 | 27,988 | ||||||
| Depreciation and impairment | |||||||||
| At 1 January 2023 | 16,295 | 627 | 16,922 | ||||||
| Depreciation charged in the year | 338 | 746 | 1,084 | ||||||
| At 31 December 2023 | 16,633 | 1,373 | 18,006 | ||||||
| Carrying amount | |||||||||
| At 31 December 2023 | 8,743 | 1,239 | 9,982 | ||||||
| At 31 December 2022 | 9,081 | 126 | 9,207 | ||||||
| 11 | Stocks | ||||||||
| 2023 | 2022 | ||||||||
| £ | £ | ||||||||
| Stock | 2,254 | 1,568 | |||||||
| 12 | Debtors | ||||||||
| 2023 | 2022 | ||||||||
| Other debtors | 1,878 | 1,542 | |||||||
| Prepayments and accrued income | 6,824 | - | |||||||
| 8,702 | 1,542 | ||||||||
| 13 | Current asset investments | ||||||||
| 2023 | 2022 | ||||||||
| £ | £ | ||||||||
| Short term deposits | 793,599 | 783,442 | |||||||
| 14 | Creditors: amounts falling due within one year | ||||||||
| 2023 | 2022 | ||||||||
| £ | £ | ||||||||
| Accruals and deferred income | 3,139 | 2,174 |
- 10 -
FIRST CHURCH OF CHRIST, SCIENTIST, BOURNEMOUTH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
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.
| Movement in funds | Movement in funds | Movement in funds | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Balance at | Incoming | Resources |
Transfers | Balance at | ||||||
| 1 January 2023 | resources | expended | 31 December | |||||||
| 2023 | ||||||||||
| £ | £ | £ | £ | £ | ||||||
| Restricted Fund - Westminster | 209 | 2,633 | (2,842) | - | - | |||||
| Restricted Fund - Reading Room | 1,261 | - | - | - | 1,261 | |||||
| 1,470 | 2,633 | (2,842) | - | 1,261 | ||||||
| Movement in funds | ||||||||||
| Balance at | Incoming | Resources |
Transfers | Balance at | ||||||
| 1 January 2022 | resources | expended | 31 December | |||||||
| 2022 | ||||||||||
| £ | £ | £ | £ | £ | ||||||
| Restricted Fund - Westminster | - | 1,216 | (1,007) | - | 209 | |||||
| Restricted Fund - Reading Room | - | - | - | 1,261 | 1,261 | |||||
| - | 1,216 | (1,007) | 1,261 | 1,470 |
Westminster fund. A restricted fund for the purpose of funding the Reading Room wages.
Reading Room fund. A restricted fund for the purpose of helping to maintain the Reading Room.
16 Analysis of net assets between funds
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| funds | funds | ||
| 2023 | 2023 | 2023 | |
| £ | £ | £ | |
| Fund balances at 31 December 2023 are represented by: | |||
| Tangible assets | 9,982 | - | 9,982 |
| Current assets/(liabilities) | 817,793 | 1,261 | 819,054 |
| 827,775 | 1,261 | 829,036 |
- 11 -
FIRST CHURCH OF CHRIST, SCIENTIST, BOURNEMOUTH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
| 16 | Analysis of net assets between funds | (Continued) | ||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| funds | funds | |||
| 2022 | 2022 | 2022 | ||
| £ | £ | £ | ||
| Fund balances at 31 December 2022 are represented by: | ||||
| Tangible assets | 9,207 | - | 9,207 | |
| Current assets/(liabilities) | 792,662 | 1,470 | 794,132 | |
| 801,869 | 1,470 | 803,339 |
17 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| Movement in funds | Movement in funds | Movement in funds | ||||||
|---|---|---|---|---|---|---|---|---|
| Balance at | Incoming | Resources |
Balance at | |||||
| 1 January | resources |
expended | 31 December | |||||
| 2023 | 2023 | |||||||
| £ | £ | £ | £ | |||||
| Designated Fund - Youth Fund | 300 | - | - | 300 | ||||
| Designated Fund - Freehold Property Fund | 586,640 | - | (338) | 586,302 | ||||
| General Fund | 214,929 | 51,159 | (24,915) | 241,173 | ||||
| 801,869 | 51,159 | (25,253) | 827,775 | |||||
| Movement in funds | ||||||||
| Balance at | Incoming | Resources |
Balance at | |||||
| 1 January | resources |
expended | 31 December | |||||
| 2022 | 2022 | |||||||
| £ | £ | £ | £ | |||||
| Designated Fund - Youth Fund | 100 | 400 | (200) | 300 | ||||
| Designated Fund - Freehold Property Fund | 586,978 | - | (338) | 586,640 | ||||
| General Fund | 215,009 | 29,040 | (27,859) | 214,929 | ||||
| 802,087 | 29,440 | (28,397) | 801,869 |
The designated freehold property fund represents unrestricted funds utilised at the discretion of the trustees for the purpose of purchasing and improving the freehold property.
The designated youth fund represents unrestricted funds utilised at the discretion of the trustees for the purpose of funding activities for the youth members of the church.
- 12 -