# **The Church in Abingdon Development Trust Ltd (also known as Peachcroft Christian Centre) Trustees Report and Financial Statement Year ending 31st August 2023**
**Charitable Company: 01497393 Registered Charity: 280719**
## **Contents**
|Reference and Administrative Information|2|
|---|---|
|Trustees Report|3 - 6|
|Financial Review|7|
|Independent Examiners Report|9|
|Statement of Financial Activities|10 - 11|
|Balance Sheet|12|
|Notes to Financial Statement|13 - 19|
2
Trustees Report for year ended 31st August 2023 (continued)
## **Reference and Administrative Information**
Registered name: The Church in Abingdon Development Trust Ltd (also known as Peachcroft Christian Centre)
Charity registration number 280719
Company registration number 01497393
Registered office Peachcroft Christian Centre, Lindsay Drive, Abingdon, Oxfordshire, OX14 2RT Trustees Barbara Beach from 30-Oct-2022 to 28-Mar-2023 Peter Brewer Andrew Dixon from 10-Nov-2022 to 30-Apr-2024 Stephanie Ouzman from 31-Oct-2021 Rebecca Peters to 31-Dec-2022 Nathan Rose to 30-Oct-2022 Martyn Sené to 30-Oct-2022 & from 29-Oct-2023 Glenn Smallcombe from 30-Oct-2022 Richard Stevens from 30-Oct-2022 Beryl Tillin Robyn Wyncoll Hannelie Watkins from 30-Oct-2022 Rev David Masters from 5-May-2024 Company Secretary Beryl Tillin Independent Examiner Stuart Bates, Wenn Townsend, Victoria House, 10 Broad Street, Abingdon OX14 3LH Bankers The Co-operative Bank – Business, Business Customer Services, PO Box 250, Skelmersdale, WN8 6WT
The Church in Abingdon Development Trust Ltd registered in England and Wales (No.01497393) Registered office: Peachcroft Christian Centre, Lindsay Drive, Abingdon, OX14 2RT. Registered Charity No.280719
3
Trustees Report for year ended 31st August 2023 (continued)
## **Trustees Report**
## For Year Ended 31st August 2023
The trustees are pleased to present their annual report together with the financial statements for the year ended 31 August 2023. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” in preparing the annual report and financial statements of the charity.
## Organisation of the Trust
The Church in Abingdon Development Trust Ltd is governed by Articles of Association adopted on 31st October 2019.
It is responsible for the life and ministry of Peachcroft Christian Centre, an ecumenical church, shared equally by the Church of England, Baptist, United Reformed and Methodist denominations under a sharing agreement agreed by all four participating denominations signed in 1992 and amended in 1996.
The Charity is the leaseholder with Radley College for the land on which the Christian Centre is built. Additionally, it holds the Peachcroft Christian Centre building on trust for the four supporting denominations.
The Sharing Agreement is the principal governing document of the Church in Abingdon Development Trust Ltd for the use of its building.
The operation of the church is controlled by a Board of Trustees elected by the members. They may also seek guidance from a Joint Council appointed in accordance with the sharing agreement for the building and the sponsoring body, Churches Together in Oxfordshire.
Trustees are elected by the Annual General Meeting of members of the Trust (Peachcroft Christian Centre), with the exception of the Minister of Peachcroft Christian Centre, who is an ex-officio trustee and the Treasurer and Secretary, appointed by the Trustees. In addition, the Articles allow for two further trustees to be co-opted.
## Governance
The Trustees met 13 times during the year. In addition subgroups met for particular purposes, for example recruitment and finance.
Trustees are directed to “The Essential Trustee: What you need to know (CC3)”, as well as “Welcome – you’re a Charity Trustee”, both published by the Charity Commission. Additionally Trustees attend Safeguarding training and Trustee training from time to time.
There have been 6 General Church Meetings (more than the required number set out in our Articles). These meetings reviewed finances and the life and ministry of the church as well as looking at the recruitment of a new minister.
The Church in Abingdon Development Trust Ltd registered in England and Wales (No.01497393) Registered office: Peachcroft Christian Centre, Lindsay Drive, Abingdon, OX14 2RT. Registered Charity No.280719
4
Trustees Report for year ended 31st August 2023 (continued)
The Trust is exposed to risks associated with finance, safeguarding, legislative compliance, buildings, and pastoral oversight. These are regularly reviewed by the Trustees during the year to ensure these risks are managed. Our operational policies are reviewed at least every three years (annually for the Safeguarding Policy).
- The annual budget for the next financial year is approved by Trustees and shared with the Membership at a Church meeting in October. Performance against budget is regularly reviewed by Trustees.
- The Trust has a Safeguarding Policy (reviewed annually) and the Trustees appoint a Designated Person for Safeguarding who acts as a focal point for concerns. All key staff and volunteers working with children and vulnerable adults are recruited using Safer Recruitment principles and are checked with the Disclosure and Barring Service, where necessary. A Trustee is appointed to monitor and oversee Safeguarding and a standing item at each Trustees meeting ensures Trustees are aware of and can act on any issues that arise.
- Pastoral care is provided by the minister and lay members of the church. Volunteers are carefully selected for key roles such as prayer ministry or leading Small Groups. Training is provided for these volunteers and they are supported and accountable to the Minister. Pastoral encounters are recorded in a manner that protects confidentiality whilst giving protection for those working in pastoral roles.
- The Trust is committed to fully meeting its responsibilities relating to all relevant legislation. In particular, a Trustee is appointed to monitor and oversee each of H&S and GDPR and standing items at each Trustees meeting ensure Trustees are aware of, and can act on, any issues that arise. The PCC provides food to many groups within the church and is committed to maintaining high levels of food safety (demonstrated by our 5 ٭ inspection rating) and provides food safety training for staff and volunteers.
## Purpose and Activities of the Trust
The Object and Purpose of the Trust is to benefit the public by advancing the Christian faith in the Area of Benefit in accordance with the principles and practices of the Participating Denominations and in achieving this purpose the Trust may engage in a range of activities either on its own or with others, including (but not restricted to):
- the celebration of public worship;
- the teaching of the Christian faith;
- mission and evangelism;
- pastoral work, including visiting the sick and the bereaved;
- the provision of facilities with a Christian ethos for the local community, including (but not restricted to) the elderly, the young and other groups with special needs; and
- the support of other charities in the UK and overseas.
The Trustees are aware and have complied with their duty to have due regard to the guidance on **public benefi** t published by the Charity Commission in exercising their powers and duties. Examples of this public benefit can be found below in the report of the activities of the Trust.
The Church in Abingdon Development Trust Ltd registered in England and Wales (No.01497393) Registered office: Peachcroft Christian Centre, Lindsay Drive, Abingdon, OX14 2RT. Registered Charity No.280719
5
Trustees Report for year ended 31st August 2023 (continued)
## Summary of activities during the year
There has been a gradual return to a new normal within our services and activities as numbers have built back up following the pandemic. Some community activities have grown significantly in attendance. At the end of 2022 our Minister moved to another appointment, and our Children, Young People and Families Leader retired. This prompted us to review the staffing needs of the church and the decision to seek a full (or near full) time minister.
## **The celebration of public worship**
Worship has been made available throughout the year both on site and live streamed via YouTube, enabling as many people as possible to access worship, including those staying at home for health reasons and others exploring church and faith. A regular online congregation has developed as a result.
We have continued to maintain an intergenerational focus for our worship services, enabling everyone, regardless of age or stage of faith to learn and worship together.
## **The Teaching of the Christian faith**
In addition to Sunday services, many members participate in small groups to study the Bible together, and support one another in prayer and practical ways. These groups have met in person, hybrid or online. Regular online prayer meetings, focussed days and evenings of prayer, and whole church discipleship and Bible study evenings also took place.
Small groups continue to provide support, enabling people to share concerns and needs both for prayer and for practical help.
Inspire, a new group for children aged 3 -11 offers opportunities to explore the faith through bible stories, craft and activities.
Explore, our young people’s group continues to be well attended and has followed the Youth Alpha series.
## **Mission and evangelism**
Various activities were organised to help raise awareness of the church within the local community and to help share our faith, these included Christingle services, which were well attended and appreciated by local families. The church is also a Member of the Church in Abingdon and engages in town wide Christian activities, and we headed up the distribution of Christmas gift bags to those who would be alone at Christmas.
## **Pastoral work, including visiting the sick and the bereaved**
There is a great need for pastoral care with both physical and mental health difficulties, both for members of the Peachcroft Christian Centre and the wider community; particularly as people continue to struggle with the illness of themselves or loved ones. Prayer for those in need along with pastoral care visits and phone calls are an important part of the holistic care of members and others attending church activities.
## **The provision of facilities with a Christian ethos for the local community, including (but not restricted to) the elderly, the young and other groups with special needs**
Community activities have brought people back together, building relationships.
Little Peaches toddler group provides parents and young children opportunities for social interaction and support and has grown in numbers, resulting in the need to implement a waiting list.
Family Film nights welcome an increasing number of members of the community into a safe and friendly environment.
The Church in Abingdon Development Trust Ltd registered in England and Wales (No.01497393) Registered office: Peachcroft Christian Centre, Lindsay Drive, Abingdon, OX14 2RT. Registered Charity No.280719
6
Trustees Report for year ended 31st August 2023 (continued)
Compass Catch Up has continued to provide valuable support for a small group of young adults.
Café Eden, our community café has welcomed customers new and old, providing a friendly space for local people (including families) to meet up and chat over homemade cakes and fairtrade drinks.
Young at Heart for older folk ran a wide-ranging programme of events and also maintained contact with those unable to attend in person due to infirmity.
During the winter period when the increased cost of living was affecting many, we opened a Warm Space, along with a number of other local churches to offer somewhere each day of the week, where those struggling with costs could find a welcome.
## **The support of other charities in the UK and overseas**
A proportion of the Charity’s income (approx 11%) was given to Christian charities to further their work. These include ongoing support to the four sponsoring denominations, projects of the Church in Abingdon and charities that help those in need in the UK and worldwide (eg Tear Fund).
## **Plans for the coming year**
We hope to welcome a new minister to lead us forward into the next chapter of our church life together.
With the building of new housing nearby, we will be looking at how we can reach out to and serve the growing community on our doorstep.
We will seek to enable intergenerational worship and ministry to welcome and support everyone in our faith community and will explore ways to accommodate a growing congregation.
The Church in Abingdon Development Trust Ltd registered in England and Wales (No.01497393) Registered office: Peachcroft Christian Centre, Lindsay Drive, Abingdon, OX14 2RT. Registered Charity No.280719
7
Trustees Report for year ended 31st August 2023 (continued)
## **Financial Review**
The Church in Abingdon Development Trust's income is primarily from donations from the congregation (72%) and Gift Aid (9%). The church also received a grant from the United Reformed Church towards the cost of employing a Children, Young People and Families Leader, contributing 2% of the annual income.
Payroll costs are the most significant area of expenditure (43%), followed by ongoing running costs (for example, insurance, utilities and building maintenance) (20%) and external donations (12%) as described in the report on activities above.
During the year, the Church in Abingdon Development Trust Ltd had an operating surplus of £21,139 before accounting for depreciation and year-end accounting adjustments.
## Reserves Policy
The Church in Abingdon Development Trust Ltd reserves are unrestricted funds that are freely available to spend on its charitable purposes. The charity aims to maintain a reserve equivalent to normal operating costs for six months plus an additional £10,000 for unexpected urgent repair work to the building. Such reserves would enable us, in the event of unforeseen events, to make up any shortfall in donations and allow time for us to seek alternative sources of income to continue to deliver our charitable objectives each year and/or manage expenditure. Under this policy, the reserves level is set at £60,000. The total unrestricted funds on 31[st] August 2023 were £88,590.
The Church in Abingdon Development Trust Ltd registered in England and Wales (No.01497393) Registered office: Peachcroft Christian Centre, Lindsay Drive, Abingdon, OX14 2RT. Registered Charity No.280719
8
Trustees Report for year ended 31st August 2023 (continued)
## **Trustees’ Responsibilities Statement**
The trustees (who are also directors of The Church in Abingdon Development Trust Ltd) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year. Under Company Law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements the trustees are required to:
1. Select suitable accounting policies and apply them consistently
2. Observe the methods and principles in the Charities SORP 2019 (FRS 102)
3. Make judgments and estimates that are reasonable and prudent
4. State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
5. Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and, hence, for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the board of directors and trustees on Friday 24-May-2024 and signed on its behalf by:
(Beryl Tillin, Secretary)
The Church in Abingdon Development Trust Ltd registered in England and Wales (No.01497393) Registered office: Peachcroft Christian Centre, Lindsay Drive, Abingdon, OX14 2RT. Registered Charity No.280719
9
Trustees Report for year ended 31st August 2023 (continued)
## **Independent Examiners Report**
## **Independent Examiner's Report to the Trustees of The Church in Abingdon Development Trust Ltd**
I report to the charity trustees on my examination of the accounts of the company for the year ended 31[st] August 2023 which are set out on pages 10 to 19.
## **Responsibilities and basis of report**
As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Stuart Bates FCA Wenn Townsend Victoria House 10 Broad Street Abingdon OX14 3LH
…… May 2024
The Church in Abingdon Development Trust Ltd registered in England and Wales (No.01497393) Registered office: Peachcroft Christian Centre, Lindsay Drive, Abingdon, OX14 2RT. Registered Charity No.280719
Financial Statement for Year Ended 31st August 2023
10
## **Statement of Financial Activities (including Income & Expenditure Account)**
## **for the 12 months ended 31 August 2023**
|Note
**Income**
Donations and legacies
5 a
Charitable Activities
5 b
Other trading activities
5 c
Investment Income
5 d
Other Income
5 e
**Total income**
**Expenditure**
Raising funds
6 a
Charitable Activities
6 b
Other expenditure
6 c
**Total expenditure**
**Net operating income / (expenditure)**
**Transfer between funds**
Other recognised gains / (losses):
Defined benefit pension scheme (actuarial)
7
**Net movement in Funds**
Reconciliation of funds:
Total funds brought forward
Funds transferred in
**Total funds carried forward**|Total
2022-23
£
£
£
Unrestricted
Funds
Restricted
Funds|Total
2021-22
£|
|---|---|---|
||69,038
8,255
77,293
4,180
-
4,180
3,855
-
3,855
1,733
-
1,733
5,332
-
5,332|82,544
2,477
1,320
239
3,690|
||**84,138**
**8,255**
**92,393**|**90,269**|
||-
-
-
69,031
15,468
84,499
1,080
-
1,080|-
103,046
1,080|
||**70,111**
**15,468**
**85,579**|**104,126**|
||**14,027**
**(7,213)**
**6,814**
**(3,029)**
**3,029**
**-**
-
-
-
**10,998**
**(4,184)**
**6,814**
109,424
398,148
507,572
-
-
-|**(13,856)**
**-**
-
**(13,856)**
521,428
-|
||**120,422**
**393,964**
**514,386**|**507,572**|
||||
The Church in Abingdon Development Trust Ltd registered in England and Wales (No.01497393) Registered office: Peachcroft Christian Centre, Lindsay Drive, Abingdon, OX14 2RT. Registered Charity No.280719
Financial Statement for Year Ended 31st August 2023 (continued)
11
## **Statement of Financial Activities (including Income & Expenditure Account)**
## **for the 12 months ended 31 August 2022 (Comparative figures)**
|**Income**
Donations and legacies
Charitable Activities
Other trading activities
Investment Income
Other Income
**Total income**
**Expenditure**
Raising funds
Charitable Activities
Other expenditure
**Total expenditure**
**Net operating income / (expenditure)**
**Transfer between funds**
Other recognised gains / (losses):
Defined benefit pension scheme (actuarial)
**Net movement in Funds**
Reconciliation of funds:
Total funds brought forward
Funds transferred in
**Total funds carried forward**|Total
2021-22
£
£
£
Unrestricted
Funds
Restricted
Funds|
|---|---|
||76,472
6,072
82,544
2,477
-
2,477
1,320
-
1,320
239
-
239
2,630
1,060
3,690|
||**83,137**
**7,132**
**90,269**|
||-
-
-
86,685
16,360
103,045
1,080
-
1,080|
||**87,765**
**16,360**
**104,125**|
||**(4,628)**
**(9,228)**
**(13,856)**
**-**
**-**
**-**
-
-
-
**(4,628)**
**(9,228)**
**(13,856)**
114,052
407,376
521,428
-
-
-|
||**109,424**
**398,148**
**507,572**|
Note: Numbers are presented to the nearest £. Totals may not add due to rounding.
The Church in Abingdon Development Trust Ltd registered in England and Wales (No.01497393) Registered office: Peachcroft Christian Centre, Lindsay Drive, Abingdon, OX14 2RT. Registered Charity No.280719
Financial Statement for Year Ended 31st August 2023 (continued)
12
## **Balance Sheet**
## **as at 31 August 2023**
|Note
**Fixed Assets**
Tangible assets
4
**Current Assets**
Debtors and prepayments
11
Cash at bank and in hand
10
**Total Current Assets**
**Creditors:**amounts falling due within one year
12
**Net current assets**
**Total assets less current liabilities**
**Funds of the Charity**
Restricted funds
9
Unrestricted funds
9
**Total funds**|31-Aug-23
31-Aug-22
Total
Total
£
£|
|---|---|
||**425,796**
**440,120**
9,091
7,313
80,844
61,761|
||**89,935**
**69,074**|
||1,345
1,622|
||**88,590**
**67,452**|
|||
||**514,386**
**507,572**|
||393,964
398,148
120,422
109,424|
||**514,386**
**507,572**|
For the year ending 31 August 2023, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
## Directors’ responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
Approved by the Board of Trustees on Friday 24th May 2024 and
Signed on their behalf by Beryl Tillin, Secretary
Signed on their behalf by Glenn Smallcombe
Signed on their behalf by Hannelie Watkins
The Church in Abingdon Development Trust Ltd registered in England and Wales (No.01497393) Registered office: Peachcroft Christian Centre, Lindsay Drive, Abingdon, OX14 2RT. Registered Charity No.280719
Financial Statement for Year Ended 31st August 2023 (continued)
13
## **Notes to the Financial Statements**
## **for the 12 months ended 31 August 2023**
## **1 Basis of accounting**
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), and UK Generally Accepted Accounting Practice.
The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest pound.
The charity is a company limited by guarantee incorporated in England and Wales and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.
## **2 Going Concern**
There are no material uncertainties that cast significant doubt on the charity's ability to continue as a going concern.
## **3 Accounting policies**
## **Incoming Resources**
## _Recognition of Incoming Resources_
These are included in the Statement of Financial Activities (SOFA) when:
- the charity becomes entitled to the resources;
- the trustees are virtually certain they will receive the resources; and
- the monetary value can be measured with sufficient reliability
## _Incoming Resources with related expenditure_
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.
## _Grants and Donations_
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
## _Tax reclaims on Donations and Gifts_
Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor has specified otherwise.
## _Contractual Income and Performance Related Grants_
This is only included in the SOFA once the related goods or services has been delivered.
## _Gifts in Kind_
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity.
## _Donated Services and Facilities_
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity.
## _Volunteer Help_
The value of any voluntary help received is not included in the accounts but is described in the trustees' annual report.
The Church in Abingdon Development Trust Ltd registered in England and Wales (No.01497393) Registered office: Peachcroft Christian Centre, Lindsay Drive, Abingdon, OX14 2RT. Registered Charity No.280719
Financial Statement for Year Ended 31st August 2023 (continued)
14
## **Notes to the Financial Statements (continued) for the 12 months ended 31 August 2023**
## **3 Accounting policies (continued)**
## **Expenditure and liabilities**
_Liability Recognition_
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources and the amount of obligation can be measured with reasonable certainty.
## _Governance Costs_
Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advise to trustees on governance or constitutional matters.
## _Grants with performance conditions_
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
_Grants payable without performance conditions_
These are recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
## _Support Costs_
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of the resources.
## _Assets_
Tangible fixed assets for use by the charity:
These are capitalised if they can be used for more than one year, and cost at least £2,000. They are valued at cost or, if gifted, at the value to the charity on receipt.
The charity's assets were owned by Peachcroft Christian Centre until 31 October 2019, and ownership was passed to the Church in Abingdon Development Trust Ltd after that date.
The original building cost £55,000 in 1988. The capital value was increased by expenditure during the Building Project. In June 2016 £9,700 was spent on a new kitchen, out of unrestricted funds.
In September 2019 £8,829 was spent on new chairs, partly using a donation that was given specifically for this purpose, with the remainder out of unrestricted funds.
In August 2021, work was completed on installing a ground source heat pump, costing £36,252, partially paid for by a legacy, with the remainder out of unrestricted funds.
## **Depreciation Rates**
Equipment 20% annum on original cost Fittings 10% annum on original cost Leasehold building 2% annum on reducing balance
## **Fund Accounting**
Unrestricted funds can be used in accordance with the charitable objectives and at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for a paricular restricted purpose.
The Church in Abingdon Development Trust Ltd registered in England and Wales (No.01497393) Registered office: Peachcroft Christian Centre, Lindsay Drive, Abingdon, OX14 2RT. Registered Charity No.280719
Financial Statement for Year Ended 31st August 2023 (continued)
15
## **Notes to the Financial Statements (continued)**
## **for the 12 months ended 31 August 2023**
## **4 Tangible fixed assets**
|**Asset Cost, valuation or revalued amount**
Gross value brought forward
Additions at cost
Disposals
Revaluations
Transfers
Gross value carried forward
**Depreciation to date**
Provision brought forward
Disposals
Revaluations
Transfers
Charge for year
Provision carried forward
**Net carrying value**
Brought forward
Carried forward|Leasehold
land &
Buildings
Fixtures &
Fittings
Equipment
Total
£
£
£
£|
|---|---|
||539,049
45,952
8,829
593,830
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|
||539,049
45,952
8,829
593,830|
||140,901
8,985
3,823
153,710
-
-
-
-
-
-
-
-
-
-
-
-
7,963
4,595
1,766
14,324|
||148,864
13,580
5,589
168,034|
|||
||398,148
36,967
5,005
440,120|
||390,185
32,372
3,240
425,796|
The Church in Abingdon Development Trust Ltd registered in England and Wales (No.01497393) Registered office: Peachcroft Christian Centre, Lindsay Drive, Abingdon, OX14 2RT. Registered Charity No.280719
Financial Statement for Year Ended 31st August 2023 (continued)
16
## **Notes to the Financial Statements (continued)**
## **for the 12 months ended 31 August 2023**
|TOTAL
TOTAL
2022-23
2021-22
£
£
£
£
**5**
**Income**
**5 a**
**Donations and legacies**
Grants
-
2,000
2,000
5,000
Donations
60,457
6,255
66,712
63,057
Tax Refund
8,581
-
8,581
14,487
**69,038**
**8,255**
**77,293**
**82,544**
**5 b**
**Charitable Activities**
Events and Activities
4,180
-
4,180
2,477
**4,180**
**-**
**4,180**
**2,477**
**5 c**
**Other trading activities**
External Use of building
3,855
-
3,855
1,320
**3,855**
**-**
**3,855**
**1,320**
**5 d**
**Investment Income**
Bank & COIF Interest
1,733
-
1,733
239
**1,733**
**-**
**1,733**
**239**
**5 e**
**Other Income**
Renewable Heat Incentive
2,069
-
2,069
2,336
Other
3,263
-
3,263
1,353
**5,332**
**-**
**5,332**
**3,690**
TOTAL
TOTAL
2022-23
2021-22
£
£
£
£
**6**
**Expenditure**
**6 a**
**Raising funds**
Publicity
-
-
-
-
**-**
**-**
**-**
**-**
**6 b**
**Charitable Activities**
Ministerial costs
9,633
-
9,633
25,920
Administrator costs
20,635
-
20,635
14,612
External Giving
8,416
2,092
10,508
9,843
Maintenance & Building Services
12,726
-
12,726
12,489
Rent
792
-
792
324
Church Groups and activities
2,270
-
2,270
1,619
Youth work
-
5,413
5,413
17,666
Insurance
4,486
-
4,486
3,873
Printing & Stationery
-
-
-
144
Consumables
644
-
644
416
Depreciation
6,361
7,963
14,324
14,486
Other costs
3,068
-
3,068
1,654
**69,031**
**15,468**
**84,499**
**103,046**
**6 c**
**Other Expenditure**
Independent examination fees
1,080
-
1,080
1,080
**1,080**
**-**
**1,080**
**1,080**
Unrestricted
Funds
Restricted
Funds
Unrestricted
Funds
Restricted
Funds
This includes Cafe Eden and other events and activities which are all run on a non-profit making basis.
The purpose of such activities is for outreach to the community.|TOTAL
2022-23
£
£
£
Unrestricted
Funds
Restricted
Funds|TOTAL
2021-22
£|
|---|---|---|
||-
2,000
2,000
60,457
6,255
66,712
8,581
-
8,581|5,000
63,057
14,487|
||**69,038**
**8,255**
**77,293**|**82,544**|
||4,180
-
4,180|2,477|
||**4,180**
**-**
**4,180**|**2,477**|
||||
||3,855
-
3,855|1,320|
||**3,855**
**-**
**3,855**|**1,320**|
||1,733
-
1,733|239|
||**1,733**
**-**
**1,733**|**239**|
||2,069
-
2,069
3,263
-
3,263|2,336
1,353|
||**5,332**
**-**
**5,332**|**3,690**|
||TOTAL
2022-23
£
£
£
Unrestricted
Funds
Restricted
Funds|TOTAL
2021-22
£|
||-
-
-|-|
||**-**
**-**
**-**|**-**|
||9,633
-
9,633
20,635
-
20,635
8,416
2,092
10,508
12,726
-
12,726
792
-
792
2,270
-
2,270
-
5,413
5,413
4,486
-
4,486
-
-
-
644
-
644
6,361
7,963
14,324
3,068
-
3,068|25,920
14,612
9,843
12,489
324
1,619
17,666
3,873
144
416
14,486
1,654|
||**69,031**
**15,468**
**84,499**|**103,046**|
||1,080
-
1,080|1,080|
||**1,080**
**-**
**1,080**|**1,080**|
The Church in Abingdon Development Trust Ltd registered in England and Wales (No.01497393) Registered office: Peachcroft Christian Centre, Lindsay Drive, Abingdon, OX14 2RT. Registered Charity No.280719
Financial Statement for Year Ended 31st August 2023 (continued)
17
## **Notes to the Financial Statements (continued)**
## **for the 12 months ended 31 August 2023**
## **7 Defined benefit pension schemes**
## **Church of England Funded Pension Scheme (CEFPS)**
Peachcroft Christian Centre participates in the CEFPS for stipendiary clergy. This scheme is administered by the Church of England Pensions Board, which holds the assets of the schemes separately from those of the Employer and the other participating employers. Each participating employer in the scheme pays contributions at a common contribution rate applied to pensionable stipends.
The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This means it is not possible to attribute the Scheme’s assets and liabilities to specific employers and that contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SoFA in the year are contributions payable towards benefits and expenses accrued in that year
As a minor Responsible Body of the CEFPS, Peachcroft Christian Centre is not liable for any share of any deficit in the scheme, should it cease to employ any active members of the scheme (31 August 2023: 0; 31 August 2022: 1). We do not therefore recognise a liability towards future deficit contributions.
## **8 Staff numbers and costs**
The average number of staff in the period was 3.4 (2021-22: 4)
|Salaries
Pension costs
**Total staff costs**|2022-23|2021-22|
|---|---|---|
||34,740
2,123|54,092
5,727|
||36,864|59,819|
No staff received benefits of greater than £60,000.
|**Analysis of funds**
**Restricted funds**
Equipment & Property Fund
Youth Fund
Hardship Fund
Christmas Outreach Fund
Tithe Fund
**Total restricted funds**
**Unrestricted fund**
General fund
**Total funds**
**Prior year comparatives**
**Restricted funds**
Equipment & Property Fund
Youth Fund
Hardship Fund
Tithe Fund
**Total restricted funds**
**Unrestricted fund**
General fund
**Total funds**|01-Sep-22
Income
Expenditure
Fund
transfers
31-Aug-23
£
£
£
£
£|
|---|---|
||398,148
-
(7,963)
-
390,185
-
2,720
(5,749)
3,029
-
-
-
-
-
-
-
5,535
(1,756)
-
3,779
-
-
-
-
-|
||**398,148**
**8,255**
**(15,468)**
**3,029**
**393,964**
**109,424**
**84,138**
**(70,111)**
**(3,029)**
**120,422**|
||**507,572**
**92,393**
**(85,579)**
**-**
**514,386**|
||01-Sep-21
Income
Expenditure
Other gains /
(losses)
31-Aug-22
£
£
£
£
£|
||406,273
1,060
(9,185)
-
398,148
-
6,072
(6,072)
-
-
1,103
-
(1,103)
-
-
-
-
-
-
-|
||**407,376**
**7,132**
**(16,360)**
**-**
**398,148**
114,052
83,137
(87,765)
-
109,424|
|||
||**521,428**
**90,269**
**(104,125)**
**-**
**507,572**|
## **9 Analysis of funds**
The Church in Abingdon Development Trust Ltd registered in England and Wales (No.01497393) Registered office: Peachcroft Christian Centre, Lindsay Drive, Abingdon, OX14 2RT. Registered Charity No.280719
Financial Statement for Year Ended 31st August 2023 (continued)
18
## **Notes to the Financial Statements (continued)**
## **for the 12 months ended 31 August 2023**
|**10**
**11**
**12**
**Cash at bank and in hand**
Current Account
Deposit
Cash in Hand
Prepayments / Other debtors
Accrued income
Sundry Creditors
Income received in advance
**Debtors and prepayments**
**Creditors (due within one year)**|Unrestricted
Restricted
**Total**
Fund
Fund
**31-Aug-23**
£
£
**£**|**Total**
**31-Aug-22**
**£**|
|---|---|---|
||26,206
-
26,206
54,613
-
54,613
25
-
25|8,108
52,943
710|
||**80,844**
**-**
**80,844**|**61,761**|
||454
-
454
8,637
-
8,637|1,314
5,999|
||**9,091**
**-**
**9,091**|**7,313**|
||1,345
-
1,345
-
-
-|1,622
-|
||**1,345**
**-**
**1,345**|**1,622**|
||||
## **13 Trustees and other related parties**
In the period, the charity has paid trustees remuneration and benefits as below.
|||Amountspaid|Amountspaid|Amountspaid|
|---|---|---|---|---|
|Name of Trustee|Legal authority|Remuneration|Pension
contribution|Total|
|Rebecca Peters|Articles of Association|7,177|1,514|8,691|
|Beryl Tillin|Advice received on adoption of new Articles of
Association|14,669|440|15,109|
Rev Rebecca Peters was employed as the Minister of Peachcroft Chistian Centre since November 2016 until December 2022
Beryl Tillin has been employed as the church administrator since May 2017. This is separate to her role as Trustee.
Both became Trustees in November 2019 when the Church in Abingdon Development Trust Ltd took
responsibility for the day-to-day activities of the church.
No other material transaction took place between the organisation and a trustee or any person connected with them.
The Church in Abingdon Development Trust Ltd registered in England and Wales (No.01497393) Registered office: Peachcroft Christian Centre, Lindsay Drive, Abingdon, OX14 2RT. Registered Charity No.280719
Financial Statement for Year Ended 31st August 2023 (continued)
19
## **Notes to the Financial Statements (continued)**
## **for the 12 months ended 31 August 2023**
## **14 Risk assessment**
The charity has sufficient Public Liability and other insurances to cover all its activities. The buildings insurance has been regularly reviewed to ensure adequate cover for complete rebuilding.
## **15 Reserves policy**
The Charity will maintain a reserve equivalent to the expected operating costs for 6 months plus £5,000 - £10,000 for unexpected property maintenance.
The Church in Abingdon Development Trust Ltd registered in England and Wales (No.01497393) Registered office: Peachcroft Christian Centre, Lindsay Drive, Abingdon, OX14 2RT. Registered Charity No.280719