REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
for |
Buckskin Evangelical Church |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
for |
Buckskin Evangelical Church |
Buckskin Evangelical Church |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Report of the Trustees | 1 | to | 7 |
Independent Examiner's Report | 8 |
Statement of Financial Activities | 9 |
Balance Sheet | 10 | to | 11 |
Notes to the Financial Statements | 12 | to | 18 |
Buckskin Evangelical Church (Registered number: 07893445) |
Report of the Trustees |
for the Year Ended 31 December 2023 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of 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 2019). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The charity's objects for the public benefit are to advance the Christian faith in accordance with the statement of beliefs in Basingstoke and in such other parts of the United Kingdom or the world as the trustees may from time to time think fit and to fulfil such other purposes which are exclusively charitable according to the law of England and Wales and are connected with the charitable work of the charity. |
Our Mission Statement |
We are committed to be God's church in Buckskin to: |
Show His love - to those in the community; |
Share His Message - with those around us; |
Strengthen His People - to serve Him; |
Support His Work - in His world; |
Serve Jesus in the Community. |
Introduction |
Buckskin Evangelical Church was incorporated as a company limited by guarantee on 21st December 2011, was registered as a charity on 27th January 2012 and became operational on 20th April 2012 when the assets of the previous charitable trust and building trust were transferred to it. This report covers church activities for the year to 31st December 2023. |
FINANCIAL REVIEW |
Financial Review |
The following table shows a comparison of unrestricted income and expenditure, 2023 vs 2022: |
2023 | 2022 |
£ | £ |
Unrestricted income | 167,957 | 174,723 |
Unrestricted expenditure | 166,510 | 174,959 |
Net unrestricted income (before transfers) | 1,447 | (236 | ) |
Restricted income | 36,035 | 45,874 |
Restricted expenditure | 21,203 | 32,866 |
Net restricted income (before transfers) | 14,832 | 13,008 |
In summary, the trustees are confident that the Church's financial position remains sound. Generous and sacrificial giving from members and other supporters will allow a wide and growing programme of activities to take place. The trustees will take careful note of the financial position when agreeing budgets and setting spending plans for 2024 and beyond, to ensure that the Church's financial position remains sound. This will involve holding an appropriate level of reserves against maintaining an active programme of Church activities. |
Grants Policy |
The church seeks to give away a minimum of 11% of its unrestricted income to assist missionary activity both in the UK and overseas. |
Buckskin Evangelical Church (Registered number: 07893445) |
Report of the Trustees |
for the Year Ended 31 December 2023 |
FINANCIAL REVIEW |
Reserves policy |
The church's policy is to maintain a prudent level of free reserves (defined as unrestricted funds, less tangible fixed assets net of long-term loans secured on the fixed assets). The free reserves on 31 December 2023 amount to £20,774 (2022: £20,754). For the purposes of short term and medium-term financial management, the trustees are concerned more with the management of working capital. We endeavor to maintain reserves that cover up to 3 months salaries, costs and church running expenses. This is held in the CAF Gold deposit account which had a balance of £23,686 on 31st December 2023 (2022: £30,858). The giving and activities of the church are dependent on the donations given by members of the church. For this reason, no additional reserves are maintained by the church. |
Risk statement |
The trustees have examined the major strategic, business and operational risks which the church faces and confirm that systems have been established to monitor those risks so that the necessary steps can be taken to lessen them. |
Trustee's Responsibility |
Under the Charities Act 1993, the trustees are required to prepare a statement of accounts for each accounting year which gives a true and fair view of the state of the affairs of the church. |
They are required to: |
1. Select suitable accounting policies and apply them consistently. |
2. Make judgments and estimates that are reasonable and prudent. |
3. State whether the applicable accounting standards have been followed. |
4. Prepare the financial statements on an ongoing basis. |
They are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the church and to ensure that such accounts and records comply with the Charities Act 1993. |
They also have a responsibility to safeguard the assets of the church and to take reasonable steps to detect fraud or any other irregularities and to provide reasonable assurances that: |
1. The church is operating efficiently and effectively. |
2. Its assets are safeguarded against unauthorised use or disposition. |
3. Financial information used within the church or for publication is reliable. |
4. The church complies with relevant laws and regulations. |
The Trustees of the church meet regularly to review and manage the activities of the church. In this they are supported by the Elders and the Leadership Team of the church. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The organisation is a charitable company limited by guarantee, incorporated on 21st December 2011, and registered as a charity on 27th January 2012. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £10. |
Annual General Meeting |
The Annual General Meeting was held on 23rd January 2024 when two trustees, Michael Boys and Darren Skipp resigned as required by the Governing Document [article 29]. Amelia Nirmal was appointed as a new trustee. Michael Boys and Darren Skipp were re-appointed as trustees. |
Buckskin Evangelical Church (Registered number: 07893445) |
Report of the Trustees |
for the Year Ended 31 December 2023 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Management |
The spiritual life of the church is run by a team of four Elders, three of whom are Trustees. |
One of the Elders/Trustees, Will Ross, is the Senior Pastor and a paid employee of the church. |
The day-to-day management of the church is run by a management team comprising of Trustees, Elders, and various activity team leaders. |
The administration of the church is managed by the activity leaders using ChurchSuite software. This is overseen by the Church Administrator. |
Buckskin Evangelical Church (Registered number: 07893445) |
Report of the Trustees |
for the Year Ended 31 December 2023 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Objective and activities |
The Trustees and Elders are committed to enabling as many people as possible to worship at the church and to become part of the fellowship. |
When planning our activities for the year we have considered the Charity Commission's guidance on public benefit, in particular the guidance on charities for the advancement of religion. We endeavour to enable everyone to live out their faith as part of our fellowship through our mission statement. |
To facilitate this work, it is important that we maintain the fabric of the church building. |
Sunday Services |
The church offers a choice of two services on Sunday mornings. The first is a Communion Service that starts at 9.00 am. There is the main Worship Service which commences at 10.30 am and runs for 90 minutes At this service we also provide a crèche and separate children's and youth classes. On occasional Sunday evenings we meet for worship, prayer, and Bible teaching. On a typical Sunday we see around 120 - 140 people attending the church. |
Activities and Community Outreach |
It was the intention of those who started the church over 50 years ago to serve and support the local community. Today, the church seeks to do this by offering a variety of activities for its members and for those in the wider community. |
- Stepping Stones - for parents and toddlers |
- AWANA - for children to age 11 |
- Coffee Morning - for the retired |
- Seminars and courses - covering topics such as Gifts Discovery, Discipleship |
- Alpha Courses - aimed at those wishing to discover more about Christianity |
- Home Groups - we have 7 small community groups for friendship, support and teaching |
- Geared - Men's Ministry |
- Threads - Woman's Ministry |
- Stitch & Craft Evenings |
- Lunch Plus - for lonely and vulnerable people |
- Youth Bible Study - meeting on a Monday aimed at 14 - 16 year olds |
- TLG - a mentoring programme in the local primary school |
- Refresh Cafe - operating once a week to support those struggling with their mental health |
- Buckin Pantry - operating once a week to donate fresh food to the local community |
In addition to the ongoing weekly activities we also provide: |
Church Office - the church is open five mornings a week from 9.00 am to 12.00 am. The aim is to have a place where people can come and find help if needed. |
Support nationally/locally - The church is committed to continuing its support for Christian organisations and workers in the UK. We have supported organisations where church members are actively involved in outreach and support across the town, such as Money Lifeline, Besom, Foodbank, and The Starfish Enterprise Trust (which supports small community based Christian projects in the town). |
From July 2021 the church has partnered with Foodbank and setup a centre where clients could come and collect their food locally. The centre operates one morning a week and is staffed mostly by church members. |
Support Internationally - The church is also actively involved with supporting Christian organisations and Christian workers internationally. Church members are actively involved in supporting projects in India, Bangladesh, Nepal, and Ghana. During 2023 we have also given support to a project in Kenya, Stand By Me. |
Buckskin Evangelical Church (Registered number: 07893445) |
Report of the Trustees |
for the Year Ended 31 December 2023 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Working with other churches - The church is actively involved with OneChurch Basingstoke, the ecumenical body for the town. The church hosts a bi-weekly lunch time meeting for ministers and has also welcomed other churches and leaders for several larger 1CB events. |
Family Events - Live Nativity and Easter Funday took place in 2023, with both events attracting over 300 people. The church also partnered with Chiltern Primary School to put on a Carol Service which over 200 people attended; due to inclement weather this was transferred to an indoor event. |
Community Development |
The church has always sought to support the local community. We have done this in several ways: |
Supporting the local school - we have very close links to Chiltern Primary School. Every other week the pastor, Will Ross, leads an assembly in the school. The school also visits the church on various occasions, e.g. Christmas, Easter, Harvest and other occasions to assist with curriculum studies. Through the TLG Early Intervention scheme the church has provided 5 coaches to support vulnerable pupils in the local primary school. The church has also worked with the school by providing over 60 hampers at Christmas to needy families identified by the school. The church also runs a Cook & Eat course for one afternoon after school over 6 weeks, where a parent and child learn how to cook a nutritious family meal. |
Volunteers -the church has over 120 active volunteers, and it has been estimated that the church contributes between 8000 and 9000 voluntary hours a year. An estimation of the annual 'volunteer value' of the church to the community is between £60,000 and £70,000. This is purely the value to the community of our volunteers and does not include any staff costs, seminar costs, pastoral care of local people or any major events that we put on (e.g. Fun Day). This does not consider those who volunteer for groups outside of the church like Money Lifeline (1 volunteer), Basingstoke Foodbank (9 volunteers), Besom (1 volunteer), Healing on the Streets (1 volunteer), Starfish Enterprise (2 volunteers) and Cedar Tree Counselling (2 volunteers) |
Church Building Usage |
The church building is now the largest and most versatile community building in Buckskin. We have a main hall that will seat over 180 people, plus other small rooms including a high-tech youth room. The new annexe has four meeting rooms equipped with television screens and wi-fi. The church building has been used by several outside organisations for the benefit of the community. Most days it is used by some kind of group. This year we have seen a number of improvements in the building and its facilities. These have included: |
- Refurbishment of the church youth lounge |
- New technology in the youth lounge |
- Installation of new catering equipment in the main kitchen |
Employees |
The church employed the following staff: |
- full time Senior Pastor |
- part-time Church Administrator |
- part time Youth Worker |
- part-time TLG administrator and Children's Ministry Leader |
- part-time cleaner |
- part-time minute taker |
Buckskin Evangelical Church (Registered number: 07893445) |
Report of the Trustees |
for the Year Ended 31 December 2023 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
A Church in Buckskin for Buckskin |
One of the church's major principles is to give and to be generous. Hence the everyday running costs and activities of the church are funded entirely by the congregation. A principle that we have adopted is to give regularly and generously to organisations outside of the church. In addition to the income that goes overseas to mission groups and relief aid, we financially support organisations in the UK. |
We believe the church has a major part to play in transforming Buckskin. Our church has the people, resources, and the desire to bring about positive change into the lives of local people. We are all aware of the challenges that lay ahead for our communities as local government budgets and services face cuts. The government are looking to the voluntary sector to help fill some of the gaps that will be left. As a church, we are already serving and supporting the local community of Buckskin and are seeking to develop our role further so that we can share and express the love of God in practical ways. |
On Sundays, we run a creche, and classes for children up to the age of 11. For children over age 11 we have a youth group. The church has a dedicated creche room, individual rooms in which to teach the different age groups that we cater for. The annexe also has infant toilets plus a disabled toilet with baby changing facilities. |
Once a week the church operates as a Foodbank Hub and runs the Refresh Café for lonely and vulnerable people. On a Thursday morning the church operates a Food Pantry giving away excess food from local supermarkets delivered to us by Community Food Link. Each week we see around 30 people visit the Pantry. |
Hardship and Community Funds |
During the Covid pandemic a Hardship Fund was established to give grants to those who were struggling financially because of the pandemic. The Trustees and Elders concluded that the Fund had run its course and closed the Fund, transferring the balance of £4,564 to a new fund with a wider remit, The Community Fund. The transfer was made in accordance with the Hardship Fund Terms of Reference. |
In July 2023 a fundraising day raised £13,500 for the Community Fund; further donations of £4,300 were received during the year. The balance of the Community Fund now stands at £24,300, which includes Gift Aid received and the funds transferred from the Hardship Fund. |
Future Plans |
The church plans to employ a part-time Community Worker who will support local families who are linked to the church through the variety of activities the church runs. It is envisaged that the role will be for 10 to 12 hours a week with an initial contract for 2 years being offered. The cost of employing the Community Worker will be borne by the Community Fund. |
The church's vision for 2024 is to be a 'Community of the Cross'. The emphasis being to follow in the footsteps of Christ by showing His love and speaking out His message. The cross was a place of sacrifice and the call to the church will be to give themselves to God and sharing what they have with others. |
The year will be separated into three themes: |
- Spring Term - The Cross a place of Love |
- Summer Term - The Cross a place of Transformation |
- Autumn - The Cross a place of Hope |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Buckskin Evangelical Church (Registered number: 07893445) |
Report of the Trustees |
for the Year Ended 31 December 2023 |
Registered office |
Trustees |
Ashley Boardman Chairman (from 13/06/23) |
Michael Boys |
Andrew Dossett Treasurer |
Amelia Nirmnal (from 23/01/24) |
William Ross |
Darren Skipp Chairman (to 13/06/23) |
Richard Spiers |
Ian Thompson (to 07/04/23) |
Margaret Thompson |
Independent Examiner |
Brewers Chartered Accountants |
Bourne House |
Queen Street |
Gomshall |
Surrey |
GU5 9LY |
Website |
www.buckskin.church |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Buckskin Evangelical Church |
Independent examiner's report to the trustees of Buckskin Evangelical Church ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023. |
Responsibilities and basis of report |
As the charity's 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 charity'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: |
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. |
A M Skilton |
Brewers Chartered Accountants |
Bourne House |
Queen Street |
Gomshall |
Surrey |
GU5 9LY |
29 July 2024 |
Buckskin Evangelical Church |
Statement of Financial Activities |
for the Year Ended 31 December 2023 |
31.12.23 | 31.12.22 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities | 2 |
Investment income | 3 |
Other income |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Other |
Total |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 828,603 |
Buckskin Evangelical Church (Registered number: 07893445) |
Balance Sheet |
31 December 2023 |
31.12.23 | 31.12.22 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 8 |
CURRENT ASSETS |
Debtors | 9 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 10 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 11 | ( |
) | ( |
) | ( |
) |
NET ASSETS |
FUNDS | 13 |
Unrestricted funds | 808,695 |
Restricted funds | 19,908 |
TOTAL FUNDS | 828,603 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
Buckskin Evangelical Church (Registered number: 07893445) |
Balance Sheet - continued |
31 December 2023 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
Buckskin Evangelical Church |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, 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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives 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 particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
2. | OTHER TRADING ACTIVITIES |
31.12.23 | 31.12.22 |
£ | £ |
Church activities | 1,298 | 215 |
Buckskin Evangelical Church |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
3. | INVESTMENT INCOME |
31.12.23 | 31.12.22 |
£ | £ |
Deposit account interest |
4. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
31.12.23 | 31.12.22 |
£ | £ |
Depreciation - owned assets |
5. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. |
6. | STAFF COSTS |
Staff costs |
2023 | 2022 |
£ | £ |
Wages and salaries | 85,651 | 93,065 |
Social Security costs | 1,983 | 2,831 |
Other pension costs | 3,408 | 3,557 |
91,042 | 99,453 |
Due to the size of the organisation, all staff are considered to be key management staff. |
The average monthly number of employees during the year was as follows: |
31.12.23 | 31.12.22 |
Full Time Pastor | 1 | 1 |
Full Time Associate Pastor | - | 1 |
Part Time Staff | 3 | 4 |
In June 2023 the associate pastor left the Church, and is not due to be replaced. In October the Church employed a Youth worker, a new role for the Church. |
Buckskin Evangelical Church |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities |
Investment income |
Other income |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
Transfers between funds | 6,375 | (6,375 | ) | - |
Net movement in funds |
RECONCILIATION OF FUNDS |
Total funds brought forward | 802,556 | 13,275 |
TOTAL FUNDS CARRIED FORWARD | 808,695 | 19,908 | 828,603 |
8. | TANGIBLE FIXED ASSETS |
Freehold |
property |
£ |
COST |
At 1 January 2023 and 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Buckskin Evangelical Church |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Trade debtors |
Prepayments and accrued income |
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Bank loans and overdrafts (see note 12) |
Trade creditors |
Social security and other taxes |
Accruals and deferred income |
11. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Bank loans (see note 12) |
12. | LOANS |
An analysis of the maturity of loans is given below: |
31.12.23 | 31.12.22 |
£ | £ |
Amounts falling due within one year on demand: |
Bank loans |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
Amounts falling due in more than five years: |
Repayable by instalments: |
Bank loans more than 5 years by installment | 36,554 | 52,306 |
The building of the annexe took place in 2016 and was partly funded by a 15-year bank loan of £200,000 from CAF Bank secured on the land and buildings. The loan interest is 2.95% above the Bank of England base rate. The terms of repayment were interest only repayments for the first 12 months and full repayment over the remaining 14 years. |
Buckskin Evangelical Church |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
13. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.1.23 | in funds | 31.12.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 808,695 | 1,447 | 810,142 |
Restricted funds |
Restricted fund | 19,908 | 14,832 | 34,740 |
TOTAL FUNDS | 16,279 | 844,882 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 167,957 | (166,510 | ) | 1,447 |
Restricted funds |
Restricted fund | 36,035 | (21,203 | ) | 14,832 |
TOTAL FUNDS | ( |
) | 16,279 |
Comparatives for movement in funds |
Net | Transfers |
movement | between | At |
At 1.1.22 | in funds | funds | 31.12.22 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 802,556 | (236 | ) | 6,375 | 808,695 |
Restricted funds |
Restricted fund | 13,275 | 13,008 | (6,375 | ) | 19,908 |
TOTAL FUNDS | 815,831 | 12,772 | - | 828,603 |
Buckskin Evangelical Church |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
13. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 174,723 | (174,959 | ) | (236 | ) |
Restricted funds |
Restricted fund | 45,874 | (32,866 | ) | 13,008 |
TOTAL FUNDS | 220,597 | (207,825 | ) | 12,772 |
At 01/01/23 | Income | Expenditure | Transfers | At 31/12/23 |
General fund | 805,641 | 164,031 | 154,193 | (5,337 | ) | 810,142 |
Designated funds |
Building funds | 1,394 | 160 | - | (1,554 | ) | - |
TLG fund | 1,626 | 300 | 6,090 | 4,163 | - |
Turkey-Syria Earthquake appeal |
- |
2,195 |
2,700 |
505 |
- |
Youth Lounge Refurbishment | 1,224 | 3,446 | 2,222 |
Total Unrestricted | 808,695 | 167,956 | 166,509 | - | 810,142 |
Restricted funds |
Building fund | 558 | - | - | - | 558 |
Childrens Worker | 6,000 | - | 4,750 | - | 1,250 |
Community Fund | - | 21,101 | 1,304 | 4,564 | 24,361 |
Cook and Eat | 336 | 500 | 713 | - | 123 |
Equipment | - | 8,644 | 10,406 | 1,762 | - |
Gifts | 7,719 | - | - | (1,762 | ) | 5,957 |
Hardship Fund | 5,296 | 33 | 764 | (4,564 | ) | - |
Holiday Fund | - | 1,913 | 1,913 | - | - |
Make Lunch | - | 3,740 | 1,248 | - | 2,492 |
TEAR Fund Quiz Night | - | 105 | 105 | - | - |
Total Restricted | 19,908 | 36,035 | 21,203 | - | 34,740 |
Total Funds | 828,603 | 203,991 | 187,713 | - | 844,881 |
The Building Fund exists to upgrade the fabric and facilities of the building in order that it is more cost effective to run. |
TLG funds cover the mentoring programme for the local school. |
Buckskin Hardship Fund was established during 2020 to support people locally suffering as a result of the Covid 19 pandemic.The Buckskin Hardship Fund was closed during 2023 as the fund had fulfilled its purpose. In line with the fund's term of reference, the trustees transferred the balance of the fund, £4,564, to a new (restricted) fund, the Buckskin Community Fund. |
Buckskin Evangelical Church |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
14. | RELATED PARTY DISCLOSURES |