2023-03-31-accounts - Southcourt Baptist Church Trust

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Contents			Page
Report ofthe Trustees			3to10
Independent Examiner's		Report
Statement of Financial	Activities		12
Balance Sheet			13
Notes Forming Part of	the Financial Statements		14to23

	Statement of	Statement of	Financial Activities as at 31	Financial Activities as at 31	March 2023
		Notes	Unrestricted	Restricted	Year ended	Year ended
			Funds	Funds	31.03.23	31.03.22
					Total funds 6	Total funds F
Income and Endowments		from:
Donations			145,875	76,688	222,563	202,908
Income Tax Recoverable			21,283		21,283	23,519
Premises Hire			29,722		29,722	22,661
Investment			619		619	94
Treehouse Pre-school		8&9	123,143	27,753	150,896	97,614
Total			320,642	104,441	425,083	346,796
Expenditure on:
Charitable Activities:
Leadership			55,697		55,697	38,071
Worship & Discipleship			709		709	4,346
Neighbourhood			1,901	77,936	79,837	43,657
Seniors				209	209	40
Site Operations			90,350		90,350	74,194
Repairs to church			11,282		11,282	26,880
Generation Next			21,795	154	21,949	44,092
Outreach			14,062		14,062	12,720
Treehouse		8&9	118,532	6,374	124,906	119,967
Depreciation			4,000		4,000	4,000
Total			318,328	84,673	403,001	367,967
Net Incomel			2,314	19,768	22,082	(21,171)
(Expenditure)
Transfer between funds			6,665	(6,665)
Net movement	in funds		8,979	13,103	22,082	(21,171)
Reconciliation	offunds:
Total funds brought			215,128	39,864	254,992	276,163
forward
Total funds carried			224,107	52,967	277,074	254,992
forward
Continuing Operations
All income and ex enditure		has arisen	from continuin	activities.

	Balance Sheet as	Balance Sheet as	at31stIlsrch 2023	at31stIlsrch 2023
	Notes	Unrestricted	Restricted	Year ended	Year ended
		Funds	Funds	31.03.23	31.03.22
				Total funds 5	Total funds R
Fixed Assets:
Tangible Assets	2	135,000		135,000	139,000
Current Assets:
Debtors		3,116		3,116	3,945
Cash at bank and in		88,902	52,967	141,669	115,522
hand
Total Current Assets		92,018	52,967	144,9&5	119,467
Liabilities:
Creditors: Amounts		1,920		1,920	1,920
falling due within one
year
Net Current Assets		9O,O98	52,967	143,065	117,547
Total Assets less		225,098	52,967	278,065	256,547
Current Liabilities
Provision for liabilities after one year		991		991	1,555
Total Net Assets		224,107	52,967	277,074	254,992
Funda
Restricted funds				52,967	39,864
Unrestricted funds				224,107	215,128
Total Funds				277,074	254,992
The financial statements	were approved	by the Board ofTrustees on..!.~..I...O..l..............			and were
signed on its behalf by:
M Rogers - Finance Vision Leader

							2023	2022
								E
Church	premises	at insured		value			3,328,481	3,081,926
Church	contents at insured			value			372,092	351,026
Total							3,700,573	3,432,952
4.Debtors and		re a	ments
							2023	2022
Income	tax recoverable		on	gift	aid		835	2,144
Prepaid	Insurance						2,281	1,801
Total							3,116	3,945
5.Creditors: amounts			fallin		due within one		ear
							2023	2022
							F
Accrued	expenses						1,920	1,920
Other creditors
Total							1,920	1,920
6.Provision for liabilities				after one		ear
							2023	2022
							6
Pension	(Scheme	1)(see note			14)		991	1,555

difference b	etween t	he average number	in the text and in the ta	ble.
Costs			2023	2022
Wages and	salaries		236,200	215,866
Other Benefits			8,478	7,192
Employer's	National	Insurance	10,714	8,840
Current Staff Pension		costs	5,009	4,447
Total			260,401	236,345

			Incoming	Resources	Net incoming/	Transfer	Funds	Funds
			Resources	Expended	(outgoing)	between	brought	carried
					resources	funds	forward	forward
						E
Something	Better			209	(209)		862	653
Bridge the	Gap		59,305	69,977	(10,672)	(6,465)	35,501	18,364
Treehouse	Support		27,753	6,374	21,379		2,450	23,829
Money Management			1,250	1,241			897	906
Support
Youth Cafe					(154)		154
Boxing Club			12,474	5,059	7,415	(200)		7,215
Community	Fair		3,659	1,659	2,000			2,000
Total			104,441	84,673	19,768	(6,665)	39,864	52,967
9.Unrestricted		funds
			Incoming	Resources	Net incoming/	Transfer	Funds	Funds
			Resources	Expended	(outgoing)	between	brought	carried
			6		resources	funds	forward	forward
					E	E
Premises			9,119		9,119		583	9,702
Refurbishment
Premises			120		120		748	868
Development
Treehouse			123,143	118,532	4,611		14,367	18,978
Women's	Ministry			50	(50)		490	440
Youth			955		955	(5,000)	10,000	5,955
General			183,396	199,687	16,291	11,665	180,961	176,335
Brid cthe	Ga		3,909	59	3,850		7,979	11,829
Total			320,642	318,328	2,314	6,665	215,128	224,107

Where the scheme is in deficit and where	Where the scheme is in deficit and where	Where the scheme is in deficit and where	Where the scheme is in deficit and where	Where the scheme is in deficit and where	Where the scheme is in deficit and where	the	church has	church has	church has	agreed toa dehcit funding	agreed toa dehcit funding	agreed toa dehcit funding	agreed toa dehcit funding	arrangement	the
church recognises a liability		for this obligation. The amount									recognised	is the net	present value ofthe
deficit reduction	contributions		payable		under the			agreement			that relates to the deficit. The present				value
is calculated using the discount rate detailed							in these disclosures. The					unwinding	ofthe discount rate is
recognised as a	finance cost.
Present value of provision:			31	March	2023				2991
			31	March	2022				61,555
			31	March	2021				67,970
Reconciliation ofopening and			closing provisions:
									Period		Ending	Period Ending
									31 March 2023			31		March 2022
										(6)				(~)
Provision at start	of period									1,555				7,970
Unwinding ofthe	discount factor			(interest
expense)
Deficit contribution paid										(566)				(2,017)
Remeasurements	—impact of		any change			in				(26)				(36)
assumptions
Remeasurements	-amendments			to the										(4,408)
contribution schedule
Provision at end	of period									991				1,555
Income and Ex enditure Im		act:
									Period		Ending	Period Ending
									31 March 2023			31		March 2022
Interest expense										28
Remeasurements	—impact of		any change			in
assumptions										(26)				(36)
Remeasurements	—amendments			to the
contribution schedule														(4,408)
Contdibutions paid in respect		offuture service
Costs recognised	in income	and expenditure
account
Assum tions:
	31 March		2023%			31	March		2022%		31 March 2021 %
	per annum					per	annum				per annum
Rate ofdiscount		5.52						2.35				0.66

Statement	of Financial A	ctivities as	at31March 2022
			Unrestricted	Restricted	Year ended 31.03.22
			Funds	Funds	Total funds
			E	E	E
Income and	Endowments	from:
Donations			139,470	63,438	202,908
Income Tax	Recoverable		23,519		23,519
Premises Hire			22,661		22,661
Investment
Treehouse Preschool			93,914	3,700	97,614
Total			279,658	67,136	346,796
Expenditure	on:
Charitable Activities:
Leadership			38,071		38,071
Worship &Discipleship			4,346		4,346
Neighbourhood			1,104	42,553	43,657
Seniors			40		40
Site Operations			74,194		74,194
Repairs to church			21,380	5,500	26,880
Generation	Next		43,864	228	44,092
Outreach			12,720		12,720
Treehouse			113,883	6,084	119,967
Depreciation			4,000		4,000
Total			313,602	54,365	367,967
Net Income/(Expenditure)			(33,944)	12,773	(21,171)

Transfer between funds	5,742	(5,742)
Net movement in funds	(28,202)	7,031	(21,171)
Reconciliation offunds:
Total funds brought forward	243,330	32,833	276,163
Total funds carried forward	215,128	39,864	254,992