REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
FOR |
GERRARD STREET BAPTIST CHURCH |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
FOR |
GERRARD STREET BAPTIST CHURCH |
GERRARD STREET BAPTIST CHURCH |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
Page |
Report of the Trustees | 1 | to | 3 |
Independent Examiner's Report | 4 |
Statement of Financial Activities | 5 |
Balance Sheet | 6 | to | 7 |
Notes to the Financial Statements | 8 | to | 16 |
GERRARD STREET BAPTIST CHURCH (REGISTERED NUMBER: SC331490) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 30 SEPTEMBER 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 30 September 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 object of the church is to advance the Christian religion for the public benefit in the United Kingdom and worldwide through: |
The organisation and provision of Christian worship; |
The provision of such facilities and services as are appropriate for a Christian Church for the benefit of the members of the Church, visitors to the Church and the local community and the wider community, particularly but not exclusively, in the Aberdeen area; |
The support and the prevention and relief of poverty; |
The advancement of education; |
The provision of facilities for Christian training and service; |
The support and provision of Christian evangelism and outreach; |
The provision of assistance to the wider Christian Church and its ministries; and |
The relief of those in need by reason of age, ill health, disability, financial hardship or other disadvantage. |
The Elders' Group is of the view that the activities carried out by the church are all in the furtherance of the stated objectives. |
The activities of the church depend, to a significant extent, on the work of members and adherents from within the church who volunteer their own time and skills. |
ACHIEVEMENT AND PERFORMANCE |
Under the overseeing leadership of our church elders (Trustees), and the line management of our Pastor, our various church ministries are led by Ministry Leaders (largely volunteers) with the support and day-to-day oversight of the Ministry Team (Senior Pastor, Associate Ministers, and Church Administrator). Ad-hoc committees are established from time to time to focus on specific tasks and goals. Administration, Finance and Building Maintenance continue to report directly to our Pastor. Each Ministry Leader has responsibility to administer a budget, agreed by the Trustees, for their area of responsibility. |
The team-based model for overseeing the various ministries underwent significant change during this year, beginning with reduced team numbers after the resignation of one of the Associate Ministers at the end of the previous year. Responsibilities were divided amongst the remaining members. In process of considering an additional member of staff the elders thought it necessary to have a more experienced pastor/minister. In the second half of the year, the remaining associate minister resigned to further his ministerial training and the church administrator resigned after completing studies and accepting a position as a counsellor. This leaves only the senior pastor on staff ministry team. |
We had an excellent weekend away at the Windmill Christian Centre in Arbroath, where those present were enabled to enjoy fellowship together with some excellent times of worship. We continue to support world mission with a large proportion of our giving. Our community outreach continues. Wednesday Women, our women's drop-in centre has seen increased numbers attending, with referrals from health workers with whom we enjoy excellent relations. Café Church, our monthly informal service that we hold in a "café style", also continues to thrive and attract those who do not attend our regular Sunday morning worship service. The building is being used by a variety of community groups at various times and in different rooms. Throughout the year it has been used for two dance groups, children's dance classes, a community men's mental health support group, an Aberdeen councillor's women's group and we support the Christian Union from the Robert Gordon University who meet in the East Wing of the Church. |
GERRARD STREET BAPTIST CHURCH (REGISTERED NUMBER: SC331490) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
FINANCIAL REVIEW |
Financial position |
The income of the church comes mainly from voluntary contributions and is spent on running costs and contributions to missionary societies and missionaries. |
Unrestricted funds are showing a surplus for the year of £241,000 (2022: £227,258 restated surplus) and the Restricted funds are showing a surplus for the year of £12,572 (2022: £13,447). The church's Unrestricted funds at the year end were £1,800,511 and also hold Restricted funds of £65,164. The reserves at the balance sheet date amounted to £1,865,675. |
Reserves policy |
The church carries financial reserves at a level it considers suitable and necessary for the future work of the church. Being a city centre church with a traditional church building there is a necessity to maintain funds to a level which would permit major repairs or relocation. |
The Elders' Group has assessed the major risks to which the church is exposed, in particular those relating to the operations and finances of the church, and are taking appropriate steps to minimise this risk. |
FUTURE PLANS |
Our priorities for the coming year are to focus on church prayer life by holding regular prayer weeks and a Sunday morning prayer meeting. Staffing priorities will be to employ a Church Administrator with clear administrative gifting and to employ an experienced additional pastor to support the senior pastor. We shall continue to have regular extended leadership meetings with the ministry leaders. |
We continue to aim towards becoming a CAP debt Centre as part of our mission focus. |
We still hope to continue with the development of our auditorium and the West Phase of our building project. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
The church was originally constituted as Gilcomston Park Baptist Church in 1894 and changed its name to Gerrard Street Baptist Church when it took occupation of premises in Gerrard Street, Aberdeen in 1988. On 26 September 2007, a private company limited by guarantee and not having a share capital (number 331490) named Gerrard Street Baptist Church was formed. On 1 October 2007 the whole assets and undertaking of the former charitable unincorporated association were transferred to a new company limited by guarantee, which is also recognised as a charity (SC006310). |
The Elders (trustees) of the church act as directors of the company. The Elders' Group comprises elders, who are elected by the church for a three year period, and elders who are also appointed by the church as Pastors. Elders of the former unincorporated association were appointed as elders of the company. The Elders' Group appoint the company secretary and church treasurer on behalf of the church. The normal process for election includes seeking nominations from the congregation. Elders are those whom the Elders consider to meet the Biblical qualification for Elders, as deemed by the Elders' Group, will have their name put forward to the church in General Meeting for election. Elders' elections will normally be held annually at the Annual General meeting. |
Training for Elders will be ongoing and informal. Current thinking in pastoral and practical theology will be considered as a regular part of the Elders' meeting together. The Elders' Group undertakes the legal responsibilities of directors of the company and are also responsible for the strategic direction and pastoral wellbeing of the church although they are also, individually, part of the broader aspects of the church's life. |
The current Elder's Group contains a diverse and skilled group of individuals who the church believes are suited to and qualified for this role. Annual elections will be held enabling the church to add to the Elders' Group on a regular basis as they see fit. |
The church is affiliated to the Baptist Union of Scotland. The Union is made up of completely autonomous churches and so the church is free to manage its own affairs. However, our practice has been to accept guidance from the Baptist Union on increases in salary, expenses and allowances paid to our employed staff. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
GERRARD STREET BAPTIST CHURCH (REGISTERED NUMBER: SC331490) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
Registered office |
Trustees |
Company Secretary |
Independent Examiner |
Graham W Thomson |
Bain Henry Reid |
Chartered Accountants |
4 West Craibstone Street |
Bon-Accord Square |
ABERDEEN |
AB11 6YL |
Approved by order of the board of trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
GERRARD STREET BAPTIST CHURCH |
I report on the accounts for the year ended 30 September 2023 set out on pages five to sixteen. |
Respective responsibilities of trustees and examiner |
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention. |
Basis of the independent examiner's report |
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. |
Independent examiner's statement |
In connection with my examination, no matter has come to my attention : |
(1) | which gives me reasonable cause to believe that, in any material respect, the requirements |
- | to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and |
- | to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations |
have not been met; or |
(2) | to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. |
Graham W Thomson |
The Institute of Chartered Accountants of Scotland |
Bain Henry Reid |
Chartered Accountants |
4 West Craibstone Street |
Bon-Accord Square |
ABERDEEN |
AB11 6YL |
3 November 2024 |
GERRARD STREET BAPTIST CHURCH |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
as restated |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other income |
Total |
EXPENDITURE ON |
Charitable activities | 2 |
Mission to our world | 38,865 | - | 38,865 | 31,400 |
Children and youth | 2,118 | 80 | 2,198 | 319 |
Mission to our street | 1,770 | 2,965 | 4,735 | 714 |
Building and maintenance | 2,972 | 7,146 | 10,118 | 1,848 |
Office and cleaning | 4,694 | - | 4,694 | 2,747 |
Leadership | 978 | - | 978 | 564 |
Kitchen and catering | 662 | - | 662 | 182 |
Other | 5,524 | - | 5,524 | 4,497 |
Support costs | 50 | - | 50 | - |
Governance costs | 4,820 | - | 4,820 | 4,860 |
Total |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward |
As previously reported |
Prior year adjustment | 8 |
As restated |
TOTAL FUNDS CARRIED FORWARD | 1,612,103 |
GERRARD STREET BAPTIST CHURCH (REGISTERED NUMBER: SC331490) |
BALANCE SHEET |
30 SEPTEMBER 2023 |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 9 |
CURRENT ASSETS |
Debtors | 10 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 11 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 12 |
Unrestricted funds | 1,559,511 |
Restricted funds | 52,592 |
TOTAL FUNDS | 1,612,103 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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. |
GERRARD STREET BAPTIST CHURCH (REGISTERED NUMBER: SC331490) |
BALANCE SHEET - continued |
30 SEPTEMBER 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 |
GERRARD STREET BAPTIST CHURCH |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 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. |
Going concern |
At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the accounts. |
Financial reporting standard 102 - reduced disclosure exemptions |
The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': |
• | the requirements of Section 7 Statement of Cash Flows. |
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. |
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. |
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 and include irrecoverable VAT. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Charitable activities |
Charitable activities are incurred in direct pursuance of the charity's principal objectives and as set out in the trustees' report, and includes staff costs, project costs, governance and administrative costs. |
Governance costs |
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include independent examination fees. |
Tangible fixed assets |
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Fixed assets costing £500 or more are capitalised. |
Depreciation is recognised so as to write off cost or valuation of assets less their residual values over their estimated useful lives on the following bases: |
Land | Nil |
Buildings | 2% straight line |
Fixtures and fittings | 10% straight line |
Computer equipment | 20% straight line |
No depreciation has been charged for freehold property in the year as the trustees are of the opinion that residual value is not materially lower than cost. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
GERRARD STREET BAPTIST CHURCH |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
1. | ACCOUNTING POLICIES - continued |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Designated funds are amounts set aside by the trustees out of the unrestricted funds for specific future purposes or projects. |
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. |
Pension costs and other post-retirement benefits |
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. |
Employee benefits |
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. |
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. |
Debtors |
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. |
Cash at bank and in hand |
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of similar account. |
Creditors |
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount after allowing for any trade discounts due. |
Financial Instruments |
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. |
2. | CHARITABLE ACTIVITIES COSTS |
Support |
Direct | costs (see |
Costs | note 3) | Totals |
£ | £ | £ |
Staff costs | 99,739 | - | 99,739 |
Depreciation and impairment | 27,556 | - | 27,556 |
Finance and admin | 38,808 | - | 38,808 |
City and student ministries | 2,435 | - | 2,435 |
Prayer and praise | 870 | - | 870 |
Mission to our world | 38,865 | - | 38,865 |
Children and youth | 2,198 | - | 2,198 |
Mission to our street | 4,735 | - | 4,735 |
Building and maintenance | 10,118 | - | 10,118 |
Office and cleaning | 4,694 | - | 4,694 |
Leadership | 978 | - | 978 |
Kitchen and catering | 662 | - | 662 |
Other | 5,524 | - | 5,524 |
Support costs | - | 50 | 50 |
Governance costs | - | 4,820 | 4,820 |
237,182 | 4,870 | 242,052 |
GERRARD STREET BAPTIST CHURCH |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
3. | SUPPORT COSTS |
Governance |
Finance | costs | Totals |
£ | £ | £ |
Support costs | 50 | - | 50 |
Governance costs | - | 4,820 | 4,820 |
50 | 4,820 | 4,870 |
4. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2023 | 2022 |
as restated |
£ | £ |
Depreciation - owned assets |
5. | TRUSTEES' REMUNERATION AND BENEFITS |
During the year Rev Matthew Henderson, trustee, received remuneration of £53,247 (2022: £51,447) and the charity made pension contributions of £3,994 (2022: £3,859) on his behalf. |
Trustees' expenses |
During the year £3,506 (2022: £3,377) was paid in respect of rates on behalf of a trustee as a result of their role as an employee and not as a result of their role as a trustee. |
Payments to trustees are authorised under section 37 of the charity's Memorandum and Articles of Association. |
6. | STAFF COSTS |
2023 | 2022 |
as restated |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
99,616 | 130,929 |
The average monthly number of employees during the year was as follows: |
2023 | 2022 |
as restated |
Employees |
The charity has no key management personnel other than the trustees. Transactions with trustees are shown in note 5. |
GERRARD STREET BAPTIST CHURCH |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
7. | STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
Unrestricted | Restricted | Total |
funds | funds | funds |
as restated |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other income |
Total |
EXPENDITURE ON |
Charitable activities |
1,209 | - |
Mission to our world | 31,400 | - | 31,400 |
Children and youth | 319 | - | 319 |
Mission to our street | 714 | - | 714 |
Building and maintenance | 1,848 | - | 1,848 |
Office and cleaning | 2,747 | - | 2,747 |
Leadership | 564 | - | 564 |
Kitchen and catering | 182 | - | 182 |
Other | 3,478 | 1,019 | 4,497 |
Governance costs | 4,860 | - | 4,860 |
Total |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward | 1,332,253 | 39,145 |
TOTAL FUNDS CARRIED FORWARD | 1,559,511 | 52,592 | 1,612,103 |
8. | PRIOR YEAR ADJUSTMENT |
The accounts have been restated to incorporate the impact of an unrecorded debtor of £280,000 in the 2022 figure. This relates to a legacy that was due to the Church as at 30/09/2022 but not received until 2023 due to the delay in the funds being received from the estate. |
The change has resulted in the net income surplus for the year to 30/09/2023 being reduced by £280,000 as detailed on the Statement of Financial Activities on page 5. |
GERRARD STREET BAPTIST CHURCH |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
9. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and | Computers |
property | fittings | & equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 October 2022 and 30 September 2023 |
DEPRECIATION |
At 1 October 2022 |
Charge for year |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
Included in cost or valuation of land and buildings is freehold land of £50,568 (2022 - £50,568) which is not depreciated. |
10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
as restated |
£ | £ |
Other debtors |
Prepayments |
11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
as restated |
£ | £ |
Social security and other taxes |
Accrued expenses |
12. | MOVEMENT IN FUNDS |
Prior | Net |
At | year | movement | At |
1/10/22 | adjustment | in funds | 30/9/23 |
£ | £ | £ | £ |
Unrestricted funds |
General Fund | 143,672 | 280,000 | 267,410 | 691,082 |
Designated Building Fund | 259,395 | - | (7,264 | ) | 252,131 |
Designated Fixed Asset Fund | 876,444 | - | (19,146 | ) | 857,298 |
1,279,511 | 280,000 | 241,000 |
Restricted funds |
Building Fund | 50,320 | - | 12,572 | 62,892 |
Cooking classes | 51 | - | - | 51 |
Community Support | 2,221 | - | - | 2,221 |
52,592 | - | 12,572 |
TOTAL FUNDS | 280,000 | 253,572 | 1,865,675 |
GERRARD STREET BAPTIST CHURCH |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
12. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General Fund | 471,921 | (204,511 | ) | 267,410 |
Designated Building Fund | - | (7,264 | ) | (7,264 | ) |
Designated Fixed Asset Fund | - | (19,146 | ) | (19,146 | ) |
( |
) | 241,000 |
Restricted funds |
Building Fund | 19,718 | (7,146 | ) | 12,572 |
Community Support | 3,985 | (3,985 | ) | - |
( |
) | 12,572 |
TOTAL FUNDS | ( |
) | 253,572 |
Comparatives for movement in funds |
Net | Transfers |
At | movement | between | At |
1/10/21 | in funds | funds | 30/9/22 |
£ | £ | £ | £ |
Unrestricted funds |
General Fund | 144,824 | 253,848 | 25,000 | 423,672 |
Designated Building Fund | 291,839 | (7,444 | ) | (25,000 | ) | 259,395 |
Designated Fixed Asset Fund | 895,590 | (19,146 | ) | - | 876,444 |
1,332,253 | 227,258 | - | 1,559,511 |
Restricted funds |
Building Fund | 36,154 | 14,166 | - | 50,320 |
Cooking classes | 51 | - | - | 51 |
Community Support | 2,940 | (719 | ) | - | 2,221 |
39,145 | 13,447 | - | 52,592 |
TOTAL FUNDS | 1,371,398 | 240,705 | - | 1,612,103 |
GERRARD STREET BAPTIST CHURCH |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
12. | 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 | 464,382 | (210,534 | ) | 253,848 |
Designated Building Fund | - | (7,444 | ) | (7,444 | ) |
Designated Fixed Asset Fund | - | (19,146 | ) | (19,146 | ) |
464,382 | (237,124 | ) | 227,258 |
Restricted funds |
Building Fund | 14,166 | - | 14,166 |
Community Support | 300 | (1,019 | ) | (719 | ) |
14,466 | (1,019 | ) | 13,447 |
TOTAL FUNDS | 478,848 | (238,143 | ) | 240,705 |
A current year 12 months and prior year 12 months combined position is as follows: |
Prior | Net | Transfers |
At | year | movement | between | At |
1/10/21 | adjustment | in funds | funds | 30/9/23 |
£ | £ | £ | £ | £ |
Unrestricted funds |
General Fund | 144,824 | 280,000 | 521,258 | 25,000 | 971,082 |
Designated Building Fund | 291,839 | - | (14,708 | ) | (25,000 | ) | 252,131 |
Designated Fixed Asset Fund | 895,590 | - | (38,292 | ) | - | 857,298 |
1,332,253 | 280,000 | 468,258 | - | 2,080,511 |
Restricted funds |
Building Fund | 36,154 | - | 26,738 | - | 62,892 |
Cooking classes | 51 | - | - | - | 51 |
Community Support | 2,940 | - | (719 | ) | - | 2,221 |
39,145 | - | 26,019 | - | 65,164 |
TOTAL FUNDS | 1,371,398 | 280,000 | 494,277 | - | 2,145,675 |
GERRARD STREET BAPTIST CHURCH |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
12. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General Fund | 936,303 | (415,045 | ) | 521,258 |
Designated Building Fund | - | (14,708 | ) | (14,708 | ) |
Designated Fixed Asset Fund | - | (38,292 | ) | (38,292 | ) |
936,303 | (468,045 | ) | 468,258 |
Restricted funds |
Building Fund | 33,884 | (7,146 | ) | 26,738 |
Community Support | 4,285 | (5,004 | ) | (719 | ) |
38,169 | (12,150 | ) | 26,019 |
TOTAL FUNDS | 974,472 | (480,195 | ) | 494,277 |
The general funds are unrestricted funds which the trustees are free to use in accordance with the charitable objectives. |
The Designated Building Fund represents amounts set aside from unrestricted funds to cover any shortfall in restricted funding being used for the renovation of the church and adjacent buildings. |
The Designated Fixed Asset Fund represents the net book value of completed assets constructed by the charity. Every year an amount is transferred to or from the fund to represent the movement in net book value of completed constructed assets in the year. |
Purpose of Restricted Funds |
Building Fund |
Funding specifically to be used for the renovation of the church and adjacent buildings. |
Mainly Music |
Funds to be used for the running of the Mainly Music programme, a children's music group. |
Cooking Classes |
Funding to be used to run cooking classes. |
Community Support |
Funding to be used to assist the community. |
13. | RELATED PARTY DISCLOSURES |
GERRARD STREET BAPTIST CHURCH |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
14. | ULTIMATE CONTROLLING PARTY |
Throughout the year the charity was controlled by the trustees. |
15. | LEGAL STATUS |
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of the company winding up is limited to £1. |