2022-12-31-accounts

				Page
Reference and Administrative		Details ofthe Company,	its Trustees and Advisers
Trustees' Report				2-12
Independent Auditors'	Report	on the Financial Statements		13-16
Statement ofFinancial	Activities			17
Balance Sheet				18-19
Statement ofCash Flows				20
Notes to the Financial	Statements			21 -45

Trustees			Revd Ruth Whitehead,	Revd Ruth Whitehead,	Revd Ruth Whitehead,	Revd Ruth Whitehead,	(Chair	(Chair	until 21 March 2023) (resigned	until 21 March 2023) (resigned	21 March 2023)
			Mr lan Harrison,		Trust		Secretary
			Mrs Janet Raven
			Revd Neil Thorogood
			Revd Richard Gray, Treasurer
			Revd Donald Macalister					(resigned		11April 2023)
			Revd Robert Weston				(appointed			1 April 2022)
			Revd Sarah Simpson				(appointed			11 May 2022)
			Mrs Gwen Jennings			(appointed			24 June 2022)
Company	registered
number			01328728
Charity registered
number			275364
Registered		office	Taunton United	Reformed				Church
			18Paul Street
			Taunton
			Somerset
			TA1 3PF
Company	secretary		Mr lan Harrison
Chair			Revd Ruth Whitehead
Independent		auditors	Bishop Fleming	LLP
			Chartered Accountants
			2nd Floor Stratus		House
			Emperor Way
			Exeter Business		Park
			Exeter
			EX13QS
Bankers			Lloyds Bank PLC
			2 Palace Avenue
			Paignton
			Devon
			CAF Bank Ltd
			25 Kings Hill Avenue
			West Mailing
			Kent
Solicitors			WBW Solicitors
			The Forum
			Barnfield Road
			Exeter
			EX1 1QR
			Star Legal Ltd
			40 High Street
			Thornbury
			BS352AJ
							Page		1

						Restricted	Unrestricted	Total	Total
						funds	funds	funds	funds
						2022	2022	2022	2021
				Note
Income from:
Donations and legacies						8,918	126,632	135,550	140,859
Charitable activities:
Funds arising from		closed	Churches				850,000	850,000	1,187,392
Other charitable	activities						7,379	7,379	1,821
Investments						48,032	342,767	390,799	374,863
Other income							12,669	12,669	14,466
Total income						56,950	1,339,447	1,396,397	1,719,401
Expenditure on:
Raising funds						3,058	4,622	7,680	16,795
Charitable activities						53,305	674,535	727,&40	3,662,332
Total expenditure						56,363	679,157	735,520	3,679,127
Net income/(expenditure)			before net
(losses}/gains on		investments				587	660,290	660,877	(1,959,726)
Net (losses)/gains	on investments					(170,495)	(983,263)	(1,153,758)	1,787,468
Net expenditure						(169,908)	(322,973)	(492,881)	(172,258)
Transfers between	funds			22		5,067	(5,067)
Net movement in	funds					(164,841)	(328,040)	(492,881)	(172,258)
Reconciliation of	funds:
Total funds brought		forward				2,223,780	14,847,086	17,070,866	17,243,124
Net movement in funds						(164,841)	(328,040)	(492„881)	(172,258)
Total funds carried		forward				2,058,939	14,519,046	16,577,985	17,070,866
The Statement of Financial			Activities	includes	all	gains and losses	recognised in the year.

						2022		2021
				Note				F
Fixed assets
Tangible assets				15		2,746,908		2,571,811
Investments				17		11,248,686		13,168,718
Investment property				16		4,239,712		3,548,444
						18,235,306		19,288,973
Current assets
Debtors				18	62,647		20,517
Cash at bank and		in hand			988,685		977,932
					1,051,332		998,449
Creditors: amounts		falling due within one
year				19	(793,638)		(784,118)
NET CURRENT ASSETSILIABILITIES						257,694		214,331
Total assets less		current liabilities				18,493,000		19,503,304
Creditors: amounts		falling due after more
than one year				20		(1,915,015)		(2,432,438)
Total net assets						16,577,985		17,070,866
Charity funds
Restricted funds:
Restricted funds				22	1,039,057		1,033,403
Restricted revaluation			reserve	22	1,019,882		1,190,377
Total restricted funds				22		2,058,939		2,223,780
Unrestricted funds
General funds				22	10,934,421		10,179,640
Unrestricted revaluation			reserve	22	3,584,625		4,667,446
Total unrestricted	funds			22		14,519,046		14,847,086
Total funds						16,577,985		17,070,866

			2022	2021
				E
Cash flows from operating activities
Net cash used in operating activities (see note 23)			(1,124,050)	(371,495)
Cash flows from investing activities
Dividends, interests and rents from investments			390,799	374,863
Purchase oftangible fixed assets			(624,585)	(99,558)
Proceeds from sale of investments			1,491,762	699,523
Purchase of investments			(123,173)	(547,527)
Net cash provided by investing activities			1,134,803	427,301
Cash flows from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents	in the year		10,753	55„806
Cash and cash equivalents at the beginning		ofthe year	977,932	922,126
CASH AND CASH EQUIVALENTS AT	THE END OF THE YEAR (SEENOTE 24)		988,685	977,932
The notes on pages 21 to 45 form part	ofthese financial statements

		Unrestricted	Total	Total
		funds	funds	funds
		2022	2022	2021
			f.
Funds arising from Closed Churches		850,708	850,708	1,187,392
Loan interest		4,321	4,321	721
Training	and conference receipts	2,350	2,350	1,100
TOTAL	2022	857,379	857,379	1,189,213
TOTAL	2021	1,189,213	1,189,213

Funds	arisin	g	from closed Churches comprise:
				2022f	2021
Capital	funds	-	Property	850,000	1,166,700
Other	funds			708	20,692
				850,708	1,187,392

		Restricted	Unrestricted	Total	Total
		funds	funds	funds	funds
		2022	2022	2022	2021
					E
Rental income from investment	properties	2,975	37,426	40,401	55,370
Income from listed investments		44,608	305,341	349,949	319,451
Bank interest		449		449	42
TOTAL 2022		48,032	342,767	390,799	374,863
TOTAL 2021		50,443	324,420	374,863

		Unrestricted	Total	Total
		funds	funds	funds
		2022f	2022	2021 F
Sundry	income	12,669	12,669	14,466
TOTAL	2021	14,466	14,466

			Restricted	Unrestricted	Total	Total
			funds	funds	funds	funds
			2022 f	2022	2022 f.	2021 E
Investment	management	fees	3,058	4,622	7,680	16,795
TOTAL 2021			2,187	14,608	16,795

		Restricted	Unrestricted
		funds	funds	Total	Total
		2022	2022	2022	2021
Charitable	activities	53,305	674,535	727,840	3,662,332
TOTAL 2021		1,790	3,660,542	3,662,332

		Activities	Grant
		undertaken	funding of	Support	Total	Total
		directly	activities	costs	funds	funds
		2022	2022f	2022	2022f	2021
Charitable	activities	250,859	202,788	274,193	727,840	3,662,332
TOTAL 2021		166,247	3,240,929	255,156	3,662,332

			Total	Total
		Activities	funds	funds
		2022	2022	2021
Staff costs		87,887	87,887	88,155
Training	and conferences	18,848	18,848	12,249
Church	support	18,723	18,723	3,137
Ecumenical costs		148	148	20,393
MMF payments		42,285	42,285
Pioneer	special category minister	3,485	3,485	4,183
Other Special Category Ministers				3,278
Synod Pastoral Advisors		49,365	49,365	36,444
Property	expenses	30,118	30,118	(1,592)
		250,859	250,859	166,247
TOTAL	2021	166,247	166,247

						Total	Total
						funds	funds
						2022f	2021f
	Staff costs					184,769	173,057
	Depreciation					5,767	5,473
	Synod Activities					4,737	1,614
	Pioneer special category		minister			1,020
	Other Special Category		Ministers			7,850	7,000
	Children &Youth Development			officer costs		2,520	14,977
	Printing stationery	8 postage				6,217	5,094
	Utilities/sundries					1,528	4,237
	Synod office expenses					14,484	10,273
	Property expenses					33,876	18,320
	Governance costs					11,425	15,111
						274,193	255,156
10.	NET INCOME/EXPENDITURE
	This is stated after	charging:
						2022f	2021f
	Depreciation of tangible		fixed	assets - owned	by the charity	5,767	5,473

		Grants to	Total	Total
		Institutions	funds	funds
		2022f	2022	2021
Institutional	grants	202,788	202,788	3,240,929

The company has m	ade the following material grants to institu	tions during the year:
		2022f	2021f
Grants to institutions	other than Churches	38,615	3,044,695
Enabling grants		68,341	100,049
Mission grants		25,700	27,123
Property grants:
-Survey grants		8,474	4,065
- Facelift grants		35,986	48,229
- Building grants		15,934	14,978
Other grants		9,738	1,790
		202,788	3,240,929
		202,788	3,240,929

Included within	Institutio	nal and Enabling grants are	the following amounts ofR10,000	or more:
			2022	2021
				P
Inter Synod Resource sharing			25,000	35,000
Retired Ministers	Pension	Fund		3,000,000
Bridgwater				15,818
Derriford				12,000
Flavel projects				12,793
Newton Abbot				10,000
Plymstock			36,500
Teignmouth				31,500
			61,500	3,117,111

Includ	ed within Mission grants are the following	amounts off10,000or more:
		2022	2021
		E	E
E mrna	nuel Swindon		10,170
Pilgrim	Plymouth		15,625
Cranbrook		25,000
		25,000	25,795

Included	within Facelift grants are the followi	ng amounts off10,000 or more:
		2022	2021
Glastonbury			10,000
Lynton			10,000
Redland	Park		10,000
Hanham		10,000
Mangotsfield		10,000
		20,000	30,000

Included within Building grants are the follo	wing amounts off10,000or more:
	2022	2021
Barnstaple	10,314
	10,314

STAFF CO	STS
				2022f	2021
Wages and	salaries			265,679	247,253
Social security costs				18,183	15,821
Contribution	to defined	contribution	pension schemes	41,643	37,888
				325,505	300,962

2022	2021
No.	No.
13	14

		Freehold	Office	Computer
		property	equipment	equipment	Total
COST
At 1 January 2022		2,705,559	1,980	15,874	2,723,413
Additions		624,585			624,585
Transfer to investment	property	(444,941)			(444,941)
At 31 December 2022		2,885,203	1,980	15,874	2,903,057
DEPRECIATION
At 1 January 2022		142,864	1,683	7,055	151,602
Charge for the year		1,250	297	4,200	5,747
Transfers between classes		(1,200)			(1,200)
At 31 December 2022		142,914	1,980	11,255	156,149
NET BOOK VALUE
At 31 December 2022		2,742,289		4,619	2,746,908
At 31 December 2021		2,562,695	297	8,819	2,571,811

	Freehold
	investment
	property
VALUATION
At 1 January 2022	3,548,444
Additions	850,035
Disposals	(1,080,744)
Surplus on revaluation	478,236
Transfer from tangible fixed assets	443,741
At 31 December 2022	4,239,712

	Listed
	investments	Loans	Total
COST OR VALUATION
At 1 January 2022	12,902,533	266,185	13,168,718
Additions	20,126	103,012	123,138
Disposalsl repayments	(286,349)	(113,085)	(399,434)
Revaluations	(1,643,736)		(1,643,736)
AT 31 DECEMBER 2022	10,992,574	256,112	11,248,686
NET BOOK VALUE
AT 31 DECEMBER 2022	10,992,574	256,112	11,248,686
AT 31 DECEMBER 2021	12,902,533	266,185	13,168,718

DEBTORS
		2022	2021
		F
DUE WITHIN	ONE YEAR
Other debtors		13,106	8,311
Prepayments	and accrued income	49,541	12,206
		62,647	20,517

			2022	2021
Mission and enabling		grants	12,744	14,?4?
Other committed	grants		769,994	760,071
Accruals			10,900	9,300
			793,638	784,118

2022	2021
1,915,015	2,432,438

			2022	2021
FINANCIAL ASSETS
Financial assets measured	at fair value through	income and expenditure	12,237,248	14,146,650

STATEMENT OF	FUNDS -CURR	ENT YEAR
						Balance at
	Balance at 1					31
	January 2022	Income	Expenditure	Transfers in/out	Gains/ (Losses)	December 2022
			F		F	f.
UNREST'D
FUNDS
Fixed asset fund	2,571,811		(5,747)	180,844		2,746,908
Loans funds	266,185	4,422		(14,495)		256,112
investment
property	3,166,944	850,390		(637,004)	379,736	3,760,066
Investment
stocks and
shares	7,800,000			(550,000)		7,250,000
Taunton fund	4,088					4,088
Free reserves	1,038,058	484,635	(673,410)	1,015,588	(1,362,999)	501,872
	14,847,086	1,339,447	(679,157)	(5,067)	(983,263)	14,519,046
RESTRICT'D
FUNDS
General purpose fund	2,024,317	48,032	(53,099)	5,067	(152,052)	1,872,265
Closed church
fund	148,527				(18,443)	130,084
DFESfund	925					925
Training fund and grants	29,185	3,672				32,857
Other small
restricted
grants received	20,826	5,246	(3,264)			22,808
	2,223,780	56,950	(56,363)	5,067	(170,495)	2,058,939
TOTAL OF FUNDS	17,070,866	1,396,397	(735,520)		(1,153,758)	16,577,985

						Balance at
	Balance at					31
	1 January			Transfers	Gains/	December
	2021	Income	Expenditure	in/out	(Losses)	2021
				F
UNREST'D
FUNDS
Fixed asset fund	2,738,630	30,620	(5,473)	(191,966)		2,571,811
Loans funds	186,242	721		79,222		266,185
Investment
property	2,487,080	830,721		(289,716)	138,859	3,166,944
Investment
stocks and
shares	7,800,000					7,800,000
Taunton fund	4,088					4,088
Free reserves	2,098,740	774,862	(3,669,677)	480,960	1,353,173	1,038,058
	15,314,780	1,636,924	(3,675,150)	78,500	1,492,032	14,847,086
RESTRICT'D
FUNDS
General purpose
fund	1,778,593	50,443	(3,9?7)	(78,500)	2?7,758	2,024,317
Closed church
fund	130,849				17,678	148,52?
DFES fund	925					925
Training fund
and grants	7,436	21,749				29,185
Other small
restricted
grants received	10,541	10,285				20,826
	1,928,344	82,477	(3,977)	(78,500)	295,436	2,223,780
TOTAL OF
FUNDS	17,243,124	1,719,401	(3,679,127)		1,787,468	17,070,866

ANALYSIS OF NET ASSETS BETWEEN FUNDS	-CURRENT YEAR
	Restricted	Unrestricted	Total
	funds	funds	funds
	2022	2022	2022f
Tangible fixed assets		2,746,908	2,746,908
Fixed asset investments	1,761,092	9,487,594	11,248,686
Investment property	480,000	3,759,712	4,239,712
Current assets		1,051,332	1,051,332
Creditors due within one year	(182,153)	(611,485)	(793,638)
Creditors due in more than one year		(1,915,015)	(1,915,015)
TOTAL	2,058,939	14,519,046	16,577,985

		Restricted	Unrestricted	Total
		funds	funds	funds
		2021	2021	2021
			F	E
Tangible fixed assets			2,571,811	2,571,811
Fixed asset investments		2,030,087	11,138,631	13,168,718
Investment	property	381,500	3,166,944	3,548,444
Current assets			998,449	998,449
Creditors	due within one year	(187,807)	(596,311)	(784,118)
Creditors	due in more than one year		(2,432,438)	(2,432,438)
		2,223,780	14,847,086	17,070,866

			2022f	2021
	Net expenditure for the year (as per Statement	of Financial Activities)	(492,881)	(172,258)
	ADJUSTMENTS FOR:
	Depreciation and impairment charges		5,747	5,473
	Non cash donations and capital funds		(850,000)	(1,166,700)
	Losses/(gains) on investments		1,165,500	(1,756,847)
	Dividends, interests and rents from investments		(390,799)	(374,863)
	Loss/(gain) on the sale offixed assets		(11,584)	(30,621)
	Non cash donations and capital funds converted	to cash		336,700
	Increase in debtors		(42,130)	(9,093)
	Increase/(decrease) in creditors		(507,903)	2,796,714
	NET CASH USED IN OPERATING ACTIVITIES		(1,124,050)	(371,495)
25.	ANALYSIS OF CASH AND CASH EQUIVALENTS
			2022	2021
	Cash in hand		988,685	977,932
	TOTAL CASH AND CASH EQUIVALENTS		988,685	977,932
26.	ANALYSIS OF CHANGES IN NET FUNDS

						At 1		At 31
						January		December
						2022	Cash flows	2022
Cash	at	bank	and	in	hand	977,932	10,753	988,6&5
						977,932	10,753	988,685

		2022	2021
		f.
Capital	funds	343,902	394,647
Income	funds	128,966	117,729
Invested	funds	472,862	522,151
		945,730	1,034,527