## **PORTSWOOD CHURCH**
## **TRUSTEES REPORT AND ACCOUNTS**
**FOR YEAR ENDED 31ST MARCH, 2023**
## **PORTSWOOD CHURCH Portswood Road, Southampton SO17 2FY**
**Charity Registered Number 248769**
Trustees: D. Gill – retired 30.01.2023
P. Lambros – retired 20.11.2023
- P. Crozier
- C. Joyce
- K. Murray – retired 31.07.2023
M. Matthews – retired 31.07.2023 K. Hitchcock – appointed 30.01.2023 C. Watkins – appointed 30.01.2023 G. Prime – appointed 30.01.2023
## Bankers:
CAF Bank Ltd, 25 Kings Hill Avenue, West Malling, Kent ME19 4JQ
## **TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31[st] MARCH 2023**
## Governing Document:
The Charity was registered on 27[th] July, 1966 under a Deed of Trust dated 20[th] May, 1966 to administer the property owned by Portswood Church which was established under a Conveyance dated 17[th] December, 1928.
## Objects of the Charity:
The objects of the Charity are to hold and administer property for the benefit of the congregation of Portswood Church to enable the premises to be used for teaching the doctrines and carrying out the practices set out in the schedule to the Deed of Trust dated 20[th] May, 1928.
## Portswood Church:
The work of the Church is overseen by a body of Elders and Pastors. Some of the Elders are also Trustees, but none of the Pastors are Trustees.
The number of members has remained fairly steady throughout the year and the work of the Church has continued with the help of a considerable number of voluntary workers. A wide range of activities cater for all ages in fulfilling the objectives of the Church.
## Objectives and Activities:
The Elders and Trustees are committed to enabling as many people as possible to worship at the Church and to become part of the Church community. The Charity Commission’s general guidance on public benefit and specific guidance on the advancement of religion has been considered. The Elders and Trustees believe that the Church’s core values and associated activities both encourage as many people to worship at the Church as possible and also facilitate the Church’s efforts to meet a wide range of community needs:
Centrality of Christ & Bible based teaching – At Sunday morning services the whole Church family comes together to worship and a programme of children’s groups meet to cater for the different ages of our youth. The older youth also meet during the week and once a month with youth from other local churches in joint gatherings. Infant dedications, baptisms, marriages and funeral services were held to enable members of the community to celebrate and thank God for milestones in their lives. Home groups were run at various times during the week for small groups of Church members and provide an opportunity for
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bible study and prayer on a smaller scale. Regular (Alpha) courses were run for those who are interested in exploring the Christian faith. Discipleship courses were run for those who have recently come to faith.
Worldwide mission – there continues to be a strong interest in missionary work with the Church supporting mission partners throughout the world as well as within the UK. During the year gifts were sent towards the support of mission partners representing a number of missionary organisations. Regular updates on mission partners are provided to Church members through a variety of media. Mission partners of the Church visit as regularly as possible to share with the fellowship and to receive encouragement and prayer.
Care of one another - helping those in need is another important demonstration of our faith and the Church’s mission in the local and wider community. The Church provided a number of different opportunities for different community groups to have fellowship and care at the Church. On Tuesdays in term time Portswood Pod a parent and toddler group catered for a large number of families. Strong links with the universities also continue with a number of students attending services and events. Many vulnerable people including the elderly were cared for through visits, or telephone and video calls. Volunteers provided shopping services, assistance with medical needs and other acts of care.
Dependence on God in prayer – outside of regular services the Church was frequently open for people to pray either individually or in groups. Monthly prayer meetings continued to be held on a weekday evening and provide an opportunity for everyone to come to Church and pray together instead of meeting in home groups. Once or twice a year we set aside a “week of prayer” where we encouraged church members to come together to pray for the church and the local community.
## Inter-Church Co-operation:
Portswood Church continues to be involved with other evangelical churches in the Southampton area, particularly through membership of the Southampton Christian Network. Portswood Church is also a member of Partnership, an affiliation of similar churches throughout the United Kingdom, and the Evangelical Alliance. The Church also supports the work of Westminster Theological College by providing space in the Church building for students to come and study and access a library.
## Financial Review:
The majority of the Church’s income is received by regular donations from members of the fellowship. The income of the Church increased compared to the prior year with additional income received from use of the premises and some income from legacies. The largest items of expenditure continue to be staff salaries and the contribution towards the support of mission partners. The Church’s financial position is in line with the stated policy.
## Risk Assessment:
The Trustees meet quarterly to review and discuss the operations of the Church and its financial position. During the year the Trustees continued to review and update the policies and procedures put in place to govern the activities of the Church. The Trustees perform checks on a rolling basis to confirm the satisfactory operation of key policies and procedures. The Church’s formal Risk Assessment is included in the above reviews and the Risk Assessment findings are addressed on an ongoing basis.
Signed on behalf of the Trustees
Philip Crozier Trustee
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**PORTSWOOD CHURCH**
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF PORTSWOOD CHURCH**
## **ON ACCOUNTS FOR THE YEAR ENDED 31[ST] MARCH, 2023**
I report on the accounts of Portswood Church for the year ended 31[st] March, 2023, which are set out on pages 4 to 8.
## **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 section 144 of the Charities Act 2011 and that an independent examination is needed. It is my responsibility to:
- examine the accounts under section 145 of the Charities Act 2011;
- to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act 2011, and
- to state whether particular matters have come to my attention.
## **Basis of Independent Examiner’s Report**
My examination was carried out in accordance with general Directions given by the Charity Commission. 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 no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
## **Independent Examiner’s Statement**
In connection with my examination, no matter has come to my attention
- (1) which gives me reasonable cause to believe that in, any material respect, the requirements:
- to keep accounting records in accordance with section 130 of the Charities Act 2011; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act 2011 have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signed:
Date: 27 January 2024 Name: S Fisher Address: 74 Toynbee Road, Eastleigh, SO50 9DN
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**PORTSWOOD CHURCH**
**FOR YEAR ENDED 31st MARCH, 2023**
|**Incoming Resources**
Offerings and Regular Giving
Legacies
Income Tax recovered
Use of Premises
Other Income
**Total Incoming Resources**
**Resources expended**
Salaries and Expenses
Gifts
Church Activities
Church Expenses
Repairs & Maintenance
Depreciation
**Total Resources expended**
**Net Incoming Resources before Transfers**
Transfers between Funds
**Net Movement in Funds**
**Total Funds brought forward**
**Total Funds carried forward**|Unrestricted
Income Funds
General Fund
Specified
Funds
Portswood
Church
Property
Total
Restricted
Funds
146,369
4,406
4,406
-
-
29,274
-
32,533
-
6,934
-
215,110
4,406
-
4,406
92,791
-
44,420
4,406
4,406
5,521
-
27,436
-
8,789
-
6,897
36,938
36,938
185,853
4,406
36,938
41,344
29,257
-
(36,938)
(36,938)
-
-
-
-
29,257
-
(36,938)
(36,938)
169,347
-
1,491,410
1,491,410
198,604
-
1,454,472
1,454,472
Restricted Income Funds|Total Funds
150,775
-
29,274
32,533
6,934
219,516
92,791
48,826
5,521
27,436
8,789
43,835
227,197
(7,681)
-
(7,681)
1,660,757
1,653,076|2022
137,763
22,509
27,694
27,991
4,777
220,733
90,414
43,406
5,676
24,243
16,883
42,847
223,469
(2,736)
-
(2,736)
1,663,493
1,660,757|
|---|---|---|---|
## **PORTSWOOD CHURCH**
## **BALANCE SHEET**
## **AS AT 31st MARCH, 2023**
|**Fixed Assets**
Portswood Church
Furniture & Equipment
**Total Fixed Assets**
**Current Assets**
Sundry Debtors
Cash at Bank
Current accounts
103,326
COIF Charity Deposit
1,978
**Total Current Assets**
**Creditors: amounts falling due within one year**
Sundry Creditors
**Total Current Liabilities**
**Net Current Assets**
**Total Assets less Current Liabilities**
**Income Funds**
Restricted Income Funds
Specified Funds
Portswood Church
Unrestricted Funds
Portswood General Fund
**Total Funds**|2023
1,454,473
7,475
1,461,948
85,825
105,304
191,129
-
-
191,129
1,653,077
-
1,454,472
1,454,472
198,604
198,604
1,653,076|2022
1,491,411
13,216
1,504,627
117,626
36,561
1,943
38,504
156,130
-
-
156,130
1,660,757
-
1,491,410
1,491,410
169,347
169,347
1,660,757|
|---|---|---|
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## **PORTSWOOD CHURCH**
## **BALANCE SHEET BREAKDOWN**
## **AS AT 31st MARCH, 2023**
|||Unrestricted
Funds|Restricted
Income
Funds|Total this
year|
|---|---|---|---|---|
|**Fixed Assets**|||||
|Portswood Church|building|-|1,454,473|1,454,473|
|Furniture & Equipment||7,475|-|7,475|
||**Total Fixed Assets**|7,475|1,454,473|1,461,948|
|**Current Assets**|||||
|Sundry Debtors||85,825|-|85,825|
|Cash at Bank||105,304|-|105,304|
|**Total Current Assets**||191,129|-|191,129|
|**Creditors: amounts falling due**|**within one year**||||
|Sundry Creditors||-|-|-|
|**Total Current Liabilities**||-|-|-|
|**Net Current Assets**||191,129|-|191,129|
|**Total Assets less Current Liabilities**||198,604|1,454,473|1,653,077|
|**As at 31st March,**|**2022**|169,346|1,491,411|1,660,757|
||||||
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## **PORTSWOOD CHURCH**
## **ACCOUNTS FOR THE YEAR ENDED 31[st] MARCH, 2023**
## **NOTES TO THE ACCOUNTS**
## 1. Accounting Policies:
- Basis of Accounting: These accounts are prepared on an accruals basis in accordance with the Charities Act 2011 and Charities SORP.
The Charity is a public benefit entity
Incoming Resources:
Donations, legacies and other income: These are accounted for on receipt.
Tax reclaims on donations and gifts: These are accounted for in the same financial period as the gift to which they relate.
Expenditure and Liabilities:
- Grants: Portswood Church makes grants to other organisations whose charitable objects complement its work. They are accounted for in the period in which they are made.
Liability recognition: General liabilities are recognised as soon as there is a legal and constructive obligation committing the Charity to the expenditure. The Church supports mission partners involved in work in the UK and overseas. Where a particular mission partner has been supported by the Church for a number of years, these arrangements are not considered to be constructive obligations such that future years’ support is accounted for in these accounts as a liability. Whilst the support has no final end date, the Church Elders, on behalf of the Trustees, assess mission partner funding on an annual basis and are confident that the mission partners would not view their support as an open ended obligation on the part of the Church.
## Assets:
Tangible fixed assets for the use of the Charity: These are capitalised if they are to be used for more than one year. They are valued at cost and are depreciated on a straight line basis.
Reserves Policy: The general fund includes a reserve of between three and six months of operating expenses to ensure that the Trustees are able to respond to unexpected changes in incoming resources and expenditure.
Going concern: The Trustees have considered the financial position and future activities of the Charity and consider that the Charity has sufficient resources to continue as a going concern for a period of at least 12 months from the date of these accounts. The Trustees have reached this conclusion as the Charity has no liabilities or borrowings, sufficient cash reserves and regular income to enable the Charity to continue in operations for the foreseeable future.
## 2. Taxation:
Portswood Church is a registered Charity and accordingly is exempt from taxation on its income and gains where they are applied for charitable purposes.
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## 3. Grants Made:
All gifts were to individuals or organisations whose objects complement those of Portswood Church. Grants in excess of £1,000 were as follows:
|Africa Inland Mission
Alder Trust
Angela Farmer
Kids Club Kampala
Navigators
Salvation Army
SCM Foods
Step UK
WEC International
WTC
Wycliffe Bible Translators|2023
6,600
-
5,400
-
11,940
1,662
1,492
1,252
6,300
3,200
7,500
45,346|2022
6,000
1,000
6,400
1,400
14,400
-
-
-
6,000
-
6,000
41,200|
|---|---|---|
## 4. Paid Employees:
At the end of the year the Charity had no full-time employees (2022 - none) and five part-time employees (2022 - 6). The total emoluments inclusive of PAYE and national insurance amount to £83,781 (2022 - £80,190). No employee received emoluments in excess of £60,000 in the year (2022: none).
## 5. Related parties:
No Trustee has received any remuneration from the Charity nor has any Trustee had a material interest in any transaction. There were no related party transactions in the period (2022: none).
## 6. Tangible Fixed Assets:
|ngible Fixed Assets:|||
|---|---|---|
||Freehold Land|Furniture &|
||and Buildings|Equipment|
|Cost:|||
|At 1stApril, 2022|1,846,895|140,580|
|Additions|-|1,156|
|At 31stMarch, 2023|1,846,895|141,736|
|Accumulated Depreciation:|||
|At 1stApril, 2022|355,484|127,364|
|Charge for year|36,938|6,897|
|At 31stMarch, 2023|392,422|134,261|
|Net Book Value:|||
|At 31stMarch, 2023|1,454,473|7,475|
||||
|At 1stApril, 2022|1,491,411|13,216|
|Depreciation:|||
|Freehold land and buildings|2% per annum on a straight line basis.||
|Furniture and fittings|10% per annum on a straight line basis.||
|Equipment|20% per annum on a straight line basis.||
## 7. Debtors:
Debtors represent accrued income tax recoveries of £85,825 (2022: £117,626).
## 8. Pensions:
The Charity operates a defined contribution scheme. There was no pension liability at 31 March 2023 (2022: £nil).
## 9. Guarantees and Debts:
The Trustees confirm that at 31 March 2023 there were no outstanding guarantees to third parties or any debts secured on the Charity’s assets (2022: none).
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