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2022-12-31-accounts

REGISTERED CHARITY NUMBER 513110

ANNUAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2022

The Coton Green Evangelical Free Church Trust Fund

Contents of the Trustees Annual report for the Year Ended 31 December 2022

Page
Information 1
Report of the Trustees 2 to 7
Independent Examiner's Report 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Financial Statements 11 to 17
Detailed Statement of Financial Activities 18

The Coton Green Evangelical Free Church Trust Fund Information for the Year Ended 31 December 2022

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number 513110

Principal address

The Coton Centre Comberford Road Tamworth B79 9AA

Trustees

Mrs S Gilbert re-appointed 08.06.2023 Chair Mrs N Shearer re-appointed 08.06.2023 Mrs L Thompson re-appointed 14.01.2023 Mr J Knew re-appointed 27.01.2019 retired 27.01.2022 Rev D Shearer appointed 27.01.2019 retired 27.01.2022 Mr P Hudson appointed 17.05.2021 resigned 16.11.23 Mr J Thomlinson appointed 12.11.2023 Mr J Dixon appointed 12.11.2023

Senior Management

Steve Le Page - Full time Pastor (Resigned with effect 11.2.2022) Lindsay Scott - Part time Operations Admin (Resigned with effect 15.05.22) Rev D Shearer - Pastor Emeritus and Elder Bishop D Carr - Spiritual Oversight and Consultant Pastor Jonathan Shearer - Interim Facilitator

Bankers

NatWest 8 Market Street Tamworth B79 7LS

Independent Examiner

Faisal Muzaffar FCCA Sage Accounting Ltd 19 Lomond Close Tamworth Staffordshire B79 8ET

Page 1

Report of the Trustees

for the Year Ended 31 December 2022

The Trustees have pleasure in presenting their report and the financial statements for the charity for the year ended 31 December 2022. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) (effective 1 January 2015).

Trustees

The Trustees serving during the year and to the present date are listed on page 1.

OBJECTIVES AND ACTIVITIES

Objectives of the Church

Advancing the Christian Religion by teaching and establishing the people of God in their faith through weekly ministry and pastoral visiting and by presenting the Lord Jesus Christ and His Gospel through preaching and other proper means to achieve the conversion of those who hear.

The Trustees review the aims and objectives and activities on a regular basis. The Church’s Trust Deed was amended on 27 January 2008 to reflect changes in Church life and to update the document in line with current practice.

In carrying out this review the Trustees have considered the Charity Commission's general guidance on public benefit and its supplementary public guidance on the advancement of religion for the public benefit. In particular, the Trustees consider how planned activities will contribute to the aims and objectives agreed by the Leadership Team and Pastor.

The Church is a member of the Evangelical Alliance.

Public Benefit

The principles under which the Charity operates in accordance with its aims and objectives are as follows:

Provision of Church and Worship Services

Provision of Public Ceremonies

Contributing to the Spiritual Wellbeing of the Public

Contributing to the Spiritual and Moral Education of Children and Young People

practices and instruction.

Page 2

Contributing towards promoting Social Cohesion

Pastoral and Missionary Work (UK and Overseas)

Contributing to Mental and Physical Health and Well-being

Provision of a Building for Use, Hire or Letting

Providing Information to the Public

Review of Activities

The statement of financial activities for the year is set out on page 9 of the financial statements. A summary of the financial results and the work of the charity is set out below.

The Church

Steve Le Page held the position of full time Pastor and after his resignation, the church was led on an interim basis by Pastor D Shearer and the Board of Trustees. Jonathan Shearer held the position of Interim Facilitator in addition to coordinating church meetings.

The full list of Trustees, including appointments and retirements is given on page 1.

Our main worship service takes place on Sunday morning at The Coton Centre. There is regular intercessory prayer, both corporate and individual, through regular Sunday evening prayer meetings, in addition to church together meetings and prayer requests via our intercessory prayer coordinators - where specific prayerful intercession for our community and nation takes place. The public can access information and contact us via our website, podcasts and social media platforms.

The church operates a number of groups for children and youth which are held during part of the Sunday morning worship service-giving them access to age appropriate bible teaching, fun crafts and activities that they can share and enjoy with their peers. In addition to this, the church's other areas of work with children and youth (including those who do not regularly attend church) continues to flourish.

Our youth group meets weekly on Wednesday evenings for 11 to 18 year-olds.

We continue to be blessed by the many volunteers who assist in the Centre throughout the year and help us, as a church, to offer so many vital groups and services to our community.

Page 3

The Coton Centre

The Centre generally continues to have regular use for church activities. The Trustees and wider leadership team have made a full review of all Centre income and expenditure with opportunities for external lettings of the Coton Centre increasing, upgrading of all Centre lighting to LED, faulty double glazed windows starting to be replaced and a full electric test carried out in order to conform to regulatory standards. Trustees acknowledge there is still some work to be done over time and when finances allow, to bring the infrastructure and facilities of the Centre fully up to date to enable the building to be utilised by the church and other users to its maximum potential and at a manageable cost.

Church activities using the Centre during the year, with Covid regulation still in place have included:

As well as for the church activities listed, our building is used as a major training venue for teachers, social services, and health service staff. It is also a major concert venue for school orchestras from all over the region, and for choirs, and musical and drama groups. We continue a regular weekly booking for S.P.I.N. Tamworth (a Charity for Special People in Need), which can hold its weekly event in a user-friendly, suitable venue. Our car park is used by the adjacent local school for major public events and parents’ evenings, and by the local Round Table. We have weekly babies and children's group bookings from Rock School, Bloom Baby, Glow Bambinos and Upbeat Dance. We are very blessed indeed.

Coton Green Church Pre-School

Pre-school numbers have continued to remain strong and the solid reputation of our organisation is enhanced by word-ofmouth recommendations. The Ofsted 'Good' rating is testament to the hard work and dedication of the Pre-school staff. We see Pre-school as an important part of the ministry of the church.

Financial Review of the Church

We note the decrease in incoming resources in 2022 from £349,633 to £252,614 in total due to a number of reasons. In the year 2021, the use of The Coton Centre as a Covid-19 vaccination centre unexpectedly and significantly contributed to the increase in unrestricted income in addition to the benefit of income from Government furlough support, neither of which happened in 2022. Giving significantly dropped in 2022 in addition to there being a temporary halt in the recovery of gift aid due to access issues. Overall expenditure reduced for the year with a reduction in staff wages and related costs but an increase in legal and professional fees which were significantly higher than originally anticipated. In order to cope with the national expected rise in utilities, trustees took the decision to start the process of updating the lighting and heating systems to be more energy efficient and this is reflected in the stability of these costs in 2022. A full breakdown of prior year income and expenditure between restricted and unrestricted funds can be found in note 8 of the accounts. The resulting total deficit of £48,780 has resulted in an decrease in the total funds of the charity to £1,587,910 (2021: £1,636,690).

The Trustees are ever grateful for all funds received and thank all those who have freely contributed to the funds of the church. There have been times when there has been a shortage of funds but the Lord and His people have always intervened.

Trustees would ask those who are considering making a gift for a specific purpose to consider instead giving without restriction as to the use of these gifts. In this way funds can then be channelled to where they are needed most.

We remain confident of the underlying financial health of the charity and its effective use of resources for the Kingdom of God.

Page 4

Reserves Policy

The level of reserves is reviewed each year to ensure that current assets exceed all liabilities. We have maintained a minimum of £30k buffer within the cash flow over the year, ensuring that there was no need to rely on the agreed banking overdraft. We seek continued improvement in this area, and we aim to build and maintain a level of free reserves over the coming years, which will equate to a minimum of 3 months of operational costs.

Risk Management

The Trustees understand the risks to the Charity and these are reviewed as part of their monthly meetings through evolved Governance and the use of key performance indicators (KPI). Trustees strive to ensure that the Charity is not exposed to significant external risk but where risks have been identified they are reviewed and followed up accordingly. Internal risks are minimised by putting in place agreed policies and by implementation of procedures.

Health and Safety

The Trustees are aware that many of the Church's activities have Health and Safety implications. They are satisfied that the Health and Safety policies are robust and meet our present needs but maintain a constant review of circumstances. They give glory to God for answered prayer and His continued protection and graciousness. Standard operating procedures remain as follows:

Performance against 2021 Plan

Our agreed plan for 2022 included the following objectives:

  1. To continue to monitor closely the finances of the church and look at building up the financial reserves of the Church and Centre.

  2. To complete the process of incorporation (CIO).

  3. Investigate and actively look at all funding options open to the Charity.

  4. Investigate and look at ways of implementing initiatives, which will require investment, to allow increased revenue income, e.g. infrastructure increased lettings

  5. To continue to pay 5% of offerings to Mission Fund.

  6. To review discretionary pay awards to Staff, subject to available finance.

Trustees note that items 1,3,4,5 and 6 were completed for the year and should remain a consideration for future years. Whilst some good progress has been made on items 2, there is still more work to be done.

Page 5

Future Plans

The Lord has protected us over the years and our primary trust is still in Him, but we must still act responsibly with all the resources He gives us, and this is the basis on which we have agreed our plan for 2023. Underpinning all our plans is the desire to seek His will in all things and to work as one with the Pastor and Leadership Team in preparing His Church for His purpose.

The Trustees recognise that the Church and its members are not immune from the financial difficulties facing our nation and the world at the present time. The Trustees, continue to estimate anticipated income and expenditure for the coming year. As a result of this the Trustees have approved the following course of action:

  1. To continue to monitor closely the finances of the church and look at building up the financial reserves of the Church and Centre.

  2. To implement the process of incorporation (CIO).

  3. Investigate and actively look at all funding options open to the Charity.

  4. Investigate and look at ways of implementing initiatives, which will require investment, to allow increased revenue income, e.g. infrastructure

  5. To continue to pay 5% of offerings to Mission Fund.

  6. To review discretionary pay awards to Staff, subject to available finance.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Status

The Church is regulated by a Trust Deed dated 26 August 1982 (last amended on 27 January 2008) and registered with the Charity Commission under charity number 513110.

Appointment of Trustees

The Trustees are appointed from within the membership of the Church by the existing Trustees and Leadership Team, and endorsed by the Deacons, for a period of three years, which is renewable. The Trustees are aware of their responsibility to ensure that the mix of Trustees appropriately meets the needs of the Church, and continue to identify, with the Leadership Team, potential Trustees from within the membership.

All Trustees are aware of their legal and financial responsibilities and receive regular briefings and access to training. New Trustees are given appropriate information on appointment. Trustees bring with them significant experience of a wide range of business skills.

All Trustees give their time voluntarily and receive no benefits from the Church. Any expenses reclaimed from the Church are set out in note 7 to the financial statements.

Page 6

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Independent Examiner's Report to the Trustees of The Coton Green Evangelical Free Church Trust Fund

Independent examiner's report to the trustees of Coton Green Evangelical Free Church

I report to the charity trustees on my examination of the accounts of the Coton Green Evangelical Free Church (the Trust) for the year ended 31 December 2022.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

Since your charity's gross income didn't exceed £250,000 your examiner doesn't need to be a member of a listed body but it is always better to get your books checked by a qualified person. I can confirm that I am qualified to undertake the examination because I am a registered member of the ACCA which is one of the listed bodies.

I have completed my examination. I confirm that no material 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 Trust as required by section 130 of the Act; or

  2. The accounts do not accord with those records; or

  3. The accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

Page 8

The Coton Green Evangelical Free Church Trust Fund

Statement of Financial Activities

for the Year Ended 31 December 2022

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
Charitable activities
3
Other income
Total
EXPENDITURE ON
Charitable activities
5
Total
NET INCOME / (DEFICIT)
TRANSFER OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
Restricted
fund
2022
2021
Total funds
Total funds

£
£
£
£
73,393
1,000
74,393
126,489
177,602
-
177,602
223,144
618
-
618
-
251,614
1,000
252,614
349,633
301,394
-
301,394
311,030
301,394
-
301,394
311,030
(49,780)
1,000
(48,780)
38,603
22,639
(22,639)
-
-
1,575,135
61,555
1,636,690
1,598,087
1,547,994
39,916
1,587,910
1,636,690

The notes form part of these financial statements

Page 9

lanceshert At 31 Dec•mb¢r1022 2021 20 aM¢ts 1517.491 31,518 7,215 J3W7 41,122 720 35.276 4l521 16,061 78.211 2n (10,620) {iowo) (13217) I￿17.994

J,916 1587,910 1.547.991 39,916 5•7,910 4030,690 FUNDS Unrthfctèj fvrKIJ 14 IA47,991 39,916 I,S7S,IJS 6t,￿5 TOTALFUNDS N. Pay 10

1 ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention with the exception of investments which are included at market value.

Incoming resources

All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income after any performance conditions have been met and the amount can be quantified with reasonable accuracy and it is considered probable that the income will be received.

Grants receivable

Grants receivable are credited to Statement of Financial Activities (SOFA) when the charity has entitlement, it is probable that the income will be received, and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

Resources expended

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.

Expenditure is categorised under the following headings: -

Support costs allocations

Support costs are those that assist the work of the charity but do not directly represent charitable activities. They include office costs, governance and professional services. They are included directly in support of expenditure on the objects of the charity.

Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources.

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation.

Depreciation is calculated to write off the cost of the tangible fixed asset over it’s useful economic life. The depreciation method and rate used are: -

Freehold land Nil Nil – The trustees consider that the residual value of the freehold building is equal to Freehold buildings the cost stated in the financial statements Computer Equipment 33.33% straight line basis All other assets 25% reducing balance basis

Freehold land and buildings are subject to an annual impairment review by the trustees.

Taxation

The charity is exempt from tax on its charitable activities.

Funds accounting

Funds held by the charity are: -

Unrestricted general funds

Designated funds Restricted funds

These are funds which can be used in accordance with the charitable objects at the discretion of the trustees These are funds set aside by the trustees for specific purposes These are funds donated or granted for a specific purpose

Page 11

ACCOUNTING POLICIES continued

Operating leases

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the term of the lease.

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Judgements and key sources of estimation uncertainty

The following judgments have been made in the process of applying the accounting policies that have had the most significant effect on amounts recognised in the Financial Statements:

Residual value of the freehold property

There are no key sources of estimation uncertainty that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year

2DONATIONS AND LEGACIES
Offerings and gifts
Covenanted gifts and gift aid
Income tax recoverable
Government grant - CJRS
Charities Aid Foundation
XLM income and grants
3
CHARITABLE ACTIVITY INCOME
Activity
The Coton Centre (see note 5)
Youth activities
Special church events
4INDIRECT SUPPORT COSTS
Finance cost
Depreciation
Legal & professional
IT / Media
Photocopier lease
Independent examination fee		 General
£
Restricted
£
2022
Total
£
2021
Total
£
41,436
-
41,436
41,577
31,958
-
31,958
59,055
-
-
-
14,844
-
-
-
10,513
-
1,000
1,000
-
-
-
-
500
73,393
1,000
74,393
126,489
General
Restricted
2022
2021
£
£
£
£
177,602
-
177,602
220,785
-
-
-
170
-
-
-
2,189
177,602
-
177,602
223,144
General
Restricted
2022
2021
£
£
£
£
810
-
810
1,315
4,025
-
4,025
2,754
52,508
-
52,508
8,307
2,921
-
2,921
2,851
1,789
-
1,789
1,418
1,200
-
1,200
1,980
63,253
-
63,253
18,625

Page 12

5 CHARITABLE EXPENDITURE

Youth activities
Teaching & ministry
Salaries
Pension costs
Church events
Sundry expenditure
Subscriptions
Staff Christmas gifts/benefits
Missions board
Other missions expenditure
XLM
Coton centre (see below)
Building costs
Indirect support costs(see note 4)
The Coton Centre
Income
Pre-school: LEA government funding
Pre-school and playgroup income
Lettings including catering
Expenditure
Purchases of materials/resources
Salaries
Kitchen and catering
Heat and light
Stationery, postage & telephone
Insurance
Cleaning and maintenance
Rebillable centre costs
Sundry expenditure
Surplus / (Deficit)		 2022
2021
General
Restricted
Total
Total
£
£
£
£
-
-
-
302
6,285
-
6,285
2,177
20,870
-
20,870
84,837
3,257
-
3,257
6,048
653
-
653
1,782
2,095
-
2,095
1,259
1,688
-
1,688
2,622
500
-
500
602
7,006
-
7,006
8,300
-
-
-
100
-
-
-
500
195,787
-
195,787
183,455
-
-
-
420
238,140
-
238,140
292,404
63,253
-
63,253
18,625
301,394
-
301,394
311,029
2022
2021
General
Restricted
Total
Total
£
£
£
£
133,229
133,229
119,413
14,565
14,565
37,650
29,808
-
29,808
63,722
177,602
-
177,602
220,785
3,108
3,108
3,457
140,610
140,610
123,874
-
-
1,625
13,601
13,601
17,852
2,606
2,606
4,776
4,565
4,565
3,962
31,296
31,296
25,208
-
-
-
2,153
-
-
-
548
195,787
-
195,787
183,455
(18,184)
0
(18,184)
37,330

Page 13

STAFF COSTS
Wages and salaries
Social security
Pension costs
No employees have received income benefits of over £60,000
The average number of employees during the year (full-time basis):		 2022
Total
£
2021
Total
£
157,200
200,954
4,280
7,757
3,257
6,048
164,737
214,759
9
14

6 STAFF COSTS

7 TRUSTEES AND KEY MANAGEMENT PERSONNEL REMUNERATION AND EXPENSES

The Trustees have not received nor waived any remuneration and expenses during the year (2021: Nil).

The total amount of employee benefits (salary and pension) received by key management personnel is £11,533 (2021: £57,715). The Trustees consider the key management personnel to be the Pastor, Steve Le Page and the Operations Manager, Lindsay Scott. Reimbursement of travel expenses for key management personnel totalled £Nil (2021: £Nil).

8 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Charitable activities
Other income
Total
EXPENDITURE ON
Charitable activities
Total
NET INCOME / (DEFICIT)
TRANSFER OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
Restricted
Total Fund
Fund
£
Fund
£
£
115,833
10,656
126,489
223,144
-
223,144
-
-
-
338,977
10,656
349,633
303,308
7,722
311,030
303,308
7,722
311,030
35,669
2,934
38,603
229
(229)
-
1,539,237
58,850
1,598,087
1,575,135
61,555
1,636,690

Page 14

9 TANGIBLE FIXED ASSETS

Freehold
property
Plant &
fixtures
Computer
equipment
£
£
£
COST
At 1 January 2022
1,548,090
84,510
2,943
Additions
-
-
4,400
At 31 December 2022
1,548,090
84,510
7,343
DEPRECIATION
At 1 January 2022
-
77,862
2,047
Charge for year
-
1,662
2,363
At 31 December 2022
-
79,524
4,410
NET BOOK VALUE
At 31 December 2022
1,548,090
4,986
2,934
At 31 December 2021
1,548,090
6,647
896
10 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022
£
Debtors
7,245
7,245
11 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022
£
Trade creditors
-
Taxation and social security
3,492
Other creditors
7,128
10,620
12 ANALYSIS OF FUNDS
Analysis of funds
31.12.2022 31.12.2022
Fixed assets
Net current
assets
£
£
Unrestricted funds
1,517,491
30,502
Restricted funds
38,518
1,398
1,556,009
31,901		 Freehold
property
Plant &
fixtures
Computer
equipment
£
£
£
1,548,090
84,510
2,943
-
-
4,400		 Freehold
property
Plant &
fixtures
Computer
equipment
£
£
£
1,548,090
84,510
2,943
-
-
4,400		 Freehold
property
Plant &
fixtures
Computer
equipment
£
£
£
1,548,090
84,510
2,943
-
-
4,400		 Totals
£
1,635,542
4,400
1,548,090
-
-		 84,510
77,862
1,662		 7,343
2,047
2,363		 1,639,943
79,909
4,025
-
1,548,090		 79,524
4,986		 4,410
2,934		 83,934
1,556,009
1,548,090 6,647 896 1,555,634
2022
£
7,245
7,245
2022
£
-
3,492
7,128
10,620
31.12.2022 31.12.2022
Fixed assets
Net current
assets
£
£
1,517,491
30,502
38,518
1,398		 2022
£
7,245		 2021
£
16,062
7,245 16,062
2022
£
-
3,492
7,128		 2021
£
2,053
2,737
8,427
10,620 13,217
31.12.2022
Total
£
1,547,994
39,916
1,556,009
31,901		 1,587,910

Page 15

13 OPERATING LEASE COMMITMENTS

At 31 December 2021 the charity had total future minimum lease payments under non-cancellable operating leases falling due as follows:

falling due as follows:
Within 1 year
In 1 - 5 years		 2022
2021
£
£
-
705

-
-
-
705

14 MOVEMENT IN FUNDS

General Purpose Fund
Designated funds
Youth fund
Missions Board fund
Building improvements fund
Total designated funds
Total unrestricted funds
Restricted funds
Christmas meal fund
Personal gift fund
Pre-school gift fund
Charities Aid Foundation
Missions fund
Nursery play area fund
Building fund
Total restricted funds
Total funds		 At
01.01.2022
Incoming
Resources
Outgoing
Resources
Transfers
At 31.12.2022
£
£
£
£
£
1,563,992
251,614
(301,394)
34,984
1,549,196
4,209
-
-
(4,209)
-
723
-
-
(1,925)
(1,202)
6,211
-
-
(6,211)
-
11,143
-
0
(12,345)
(1,202)
1,575,135
251,614
(301,394)
22,639
1,547,994
398
-
-
-
398
2,986
-
-
(2,986)
0
350
0
(350)
-
-
1,000
-
-
1,000
-
-
-
-
-
48
-
-
-
48
57,773
-
-
(19,303)
38,470
61,555
1,000
0
(22,639)
39,916
1,636,690
252,614
(301,394)
-
1,587,910

Page 16

15 PURPOSE OF FUNDS General Funds

These are funds available for any purpose within the church’s charitable objects at the discretion of the board of Trustees.

Designated Funds

Youth Fund

This is to further the objectives of the charity by the provision of leisure and training activities for children and teenagers.

Missions Fund

This fund arises by a weekly transfer of 5% of church tithes in addition to specific gifts that are categorised under the restricted funds heading. The fund is administered by a Missions Board and is used to support missions in the broadest sense, consistent with the objectives of the church.

Building Improvement Fund

As a result of the need for some extensive works on the Coton Centre electrical systems during 2019, the Leadership and Trustees made an appeal to the Church for a ‘heap’ offering. Whilst the funds were collected for use on any purposes required by the Church, we have first and foremost designated these funds for use on costs associated with the repair, replacement and bringing up to current standards [taking account of energy efficiency] the lighting and heating systems of the Coton Centre.

Restricted funds

These are gifts and grants received with a specific purpose and expenditure is thus restricted in line with the stated purpose of the donor or grantor. Depreciation of fixed assets purchased from these funds is charged thereto in the accounts.

16 RELATED PARTY DISCLOSURES

Information in respect of Related Party Transactions and outstanding balances is set out below:

Donations, without conditions, received from Trustees, key management personnel and other related parties totalled £16,790 (2021: £24,634) inclusive of gift aid tax recoverable.

Page 17

Detailed Statement of Financial Activities
for the Year Ended 31 December 2022
INCOME AND ENDOWMENTS
Donations and legacies
Offerings and gifts
Covenanted gifts and gift aid
Income tax recoverable
Government grant - CJRS / Furlough support
Charities Aid Foundation
XLM Income
Charitable activities
The Coton Centre
Youth activities
Special church events
Other income
Other income
Total incoming resources
EXPENDITURE
Charitable activities
Wages
Social security
Pensions
Staff Christmas gifts/benefits
Insurance
Light and heat
Stationery, postage and telephone
Sundries
Church events expenditure
Missions board and other missions donations
Other Pre-school and nursery costs
IT and Media
Kitchen and catering
Legal and professional fees
Cleaning and maintenance
Subscriptions
Teaching and ministry
Bank charges
Accountancy fees
Youth activities
XLM Costs
Building costs
Rebillable centre costs re/ lettings
Photocopier lease
Depreciation of tangible fixed assets
Total resources expended
Net income / (deficit)		 2022
£
41,436
31,958
-
-
1,000
-
74,393
177,602
-
-
177,602
618
252,614
157,200
4,280
3,257
500
4,565
13,601
2,606
2,095
653
7,006
3,108
2,921
-
52,508
31,296
1,688
6,285
810
1,200
-
-
-
-
1,789

4,025
301,394
(48,780)		 2021
£
41,577
59,055
14,844
10,513
-

500
126,489
220,785
170

2,189
223,144
-
349,633
200,954
7,757
6,048
602
3,962
17,852
4,776
1,808
1,782
8,400
3,457
2,851
1,625
8,307
25,208
2,622
2,177
1,315
1,980
302
500
420
2,153
1,418

2,754
311,030
38,603

Page 18