REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
ST WERBURGH'S DERBY |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
ST WERBURGH'S DERBY |
ST WERBURGH'S DERBY |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Reference and Administrative Details | 1 |
Report of the Trustees | 2 | to | 7 |
Independent Examiner's Report | 8 |
Statement of Financial Activities | 9 |
Balance Sheet | 10 | to | 11 |
Cash Flow Statement | 12 |
Notes to the Cash Flow Statement | 13 |
Notes to the Financial Statements | 14 | to | 24 |
ST WERBURGH'S DERBY |
REFERENCE AND ADMINISTRATIVE DETAILS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
TRUSTEES |
REGISTERED OFFICE |
REGISTERED COMPANY NUMBER |
REGISTERED CHARITY NUMBER |
INDEPENDENT EXAMINER | Sibbalds Limited |
Chartered Accountants and Business Advisers |
Oakhurst House |
57 Ashbourne Road |
Derby |
Derbyshire |
DE22 3FS |
PRINCIPAL BANKERS | The Cooperative Bank |
PO Box 250 |
Skelmersdale |
WN8 6WT |
ST WERBURGH'S DERBY (REGISTERED NUMBER: 10743504) |
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 |
Vision |
Our objectives are set out in our governing document, the Memorandum and Articles Incorporated 27/04/2018 as amended by special resolution registered at Companies House 13/10/2017. The charity was registered with the Charity Commission on 1st November 2017 (charity number 1175502). |
The charity's object is the advancement of the Christian religion through the provision of an Anglican place of worship in Derby as part of the establishment, renewal, and revitalisation of churches within the Anglican communion. |
The Trustees are committed to the vision statement of the church to build an authentic community which is Christ centred that plays our part in transforming the city and beyond. In accordance with the vision statement, the church aims to meet its objectives through the provision of church services, courses, and planting churches. Given the |
diversity of the church's activities, performance is measured on a case-by-case basis. |
Public benefit |
In accordance with our duties as stated in section 17(5) of the Charities Act, we have considered the guidance provided by the Charity Commission in regard to public benefit. This public benefit has been demonstrated by the activities undertaken since inception of the charity outlined in this document. |
Volunteers |
The church benefits from the dedicated work of a great number of volunteers. In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in the accounts. |
ST WERBURGH'S DERBY (REGISTERED NUMBER: 10743504) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
In 2023 we continued to serve our community by offering a full programme of activities - Sunday Services, Alpha, Kids-, Youth- and Student work. We held a church Away Day in Chesterfield and attended Focus - the network church holiday. |
We continued to build relationships with organisations around the city including Derby City Vision, Derby City Mission, Derby Food for Thought Alliance, Derby Youth Alliance, Community Action Derby and the Derby City Council. |
AGM/Werb's Church Council |
Our Werb's Church Council have continued to meet monthly aside from April, August and December. Our AGM in April 2023 was well attended - four of our trustees resigned and four new members were elected and we co-opted a new treasurer. |
Building Work |
Upgrades to the wiring in the church continued in 2023 and this will be completed in 2024. |
Churchyard Renovation |
Work continued on the churchyard by a committed group of volunteers. 2023 has seen great progress on clearing and paving more areas giving better access to the garden. Work will continue in 2024 with the installation of the prayer shelter which should see the renovation complete and the churchyard in full use for other church activities. |
Werb's Central |
Our youth and Key Stage 2 kids groups have both used the building on Sunday mornings this year. Staff enjoy use of the office space and meeting rooms for collaborative working. |
Two local organisations - Little Wonders and TOGS - continued to use the building for storage space and an operating location for their activities. Both deal with children's clothing and supporting people who are unable to afford clothing themselves. At the end of 2023 they ended their partnership with us and have relocated. |
We ran a Warm Welcome in response to the cost of living crisis - provided warm food and drinks - which was attended by many members of the local community and we were able to support them with access to support funds. |
The decision was made in 2023 to separate 11 & 12 Friar Gate back into two properties, with the aim being to let out number 12 via a commercial agent. Work towards this will be progressed in 2024. |
Staffing |
At the start of 2023 our Children's and Families pastor left to move to a new church. We subsequently appointed a new person to this role in March 2023. In June we sent one of our curates to revitalise St Edmund's Church Allenton and Shelton Lock and our other curate went on maternity leave. Our volunteer Warm Welcome Manager stepped back from the role and our two volunteer Ministry Assistants completed their placements and we did not recruit any others. |
Church Plant - Mackworth (planted 2020) |
St Francis continued to grow and develop during 2023. Ministries include Monday night football, chatty crafters, connect groups, Alpha, plus kids and youth groups on Sundays. |
By the end of 2023 St Francis' worshipping community was about 150 adults, 50 children and 20 youth. |
The ordinand, who had been on placement, left to be ordained in the summer, we appointed a part time parish co-ordinator in February and in July we were appointed a curate and he and his family came and joined us. |
ST WERBURGH'S DERBY (REGISTERED NUMBER: 10743504) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Some highlights from the year were: a charity football match against AFC Mackworth reserves, a residents night hosting the local councillors, a wrestling event in the church where testimonies were shared, a joint Christmas market working with many local organisations, beer and carols had its second year in one of our local pubs and grew significantly. |
We saw a number of people come to living faith in Jesus and as a church continue to grow in maturity. We are so grateful for all that we saw God do in 2023 and are expectant for 2024. |
Church Plant - Allenton and Shelton Lock |
In June 2023 we planted a church to St Edmund's Allenton & Shelton Lock in the south of the city. We sent our curate along with his family and about 40 members of our congregation. They ran a number of community events over the year including a Summer Fun Day and a Christmas Market which had good engagement in the community. |
The congregation has grown already and in Autumn they ran Alpha with about 20 participants. We look forward to supporting them as they look towards some building improvements and extending their community outreach in 2024. |
Love Christmas |
Our connections with Derby City Mission and Derby Food for Thought Alliance (DF4TA) continued with the Love Christmas Campaign. DF4TA delivered 4220 food parcels and DCM gave out 800 Christmas Gifts with support from a grant we were successful in applying for. |
Additionally as part of this campaign, we gave 250 gifts to residents of care homes local to St Francis Mackworth and 400 selection boxes to children local to St Eds Allenton and Shelton Lock. |
Sunday Services |
Our Sunday Services continue with over 300 people engaging with our services each week - either in person or online. We trialled a new 4.30 service which then combined with our 6.30 service to create a new 5.30 gathering. |
At St Werburgh's we want church to be home for everyone who comes through our doors. Throughout 2023, the Welcome and Hospitality Teams have continued to offer a warm welcome, hot coffee, and a friendly face at every Sunday gathering. We also started a running a course called 'New to Werb's' which gives people who haven't attended the church previously to come and find out about our vision and values and meet the church leaders. |
Children |
Werb's Kids continues to have a good attendance on Sunday mornings with an increase in the pre-school group. |
Toddler Group was put on hold through the Spring/Summer terms while the previous Children's and Families Pastor left and a new one was appointed. The group relaunched in September 2023, with a change of day. There is a regular attendance of parents from both within and outside Werb's. |
A monthly youth group for KS2 children has been running since June. The children that come along participate in activities such as pizza making, crafts, wide games and laser tag. |
On Good Friday we held a family activity morning taking the children through the story of Jesus' death and resurrection and trying to work out the mysteries of Easter. This was a great event that combined fun and reflection. |
We held our annual Light Party on 31st October and Advent Party at the start of December. These were very well attended with church families and visitors and we were able to publicise our Christmas services through the events. |
Youth |
ST WERBURGH'S DERBY (REGISTERED NUMBER: 10743504) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Our youth ministry has had a fruitful year, with many new young people attending our weekly youth groups, many of whom have no church background and whose families do not attend church. There has been a growth in young people inviting friends to come to youth and many of these new young people have said that the youth group is their favourite activity of the week. We have continued our monthly youth service which has developed to a point where young people are regularly in leadership roles and growing in their gifts and skills through this opportunity. We aim to develop this as our main outreach event in the coming year. During the summer we took a number of young people to a Christian festival and in the Autumn we ran our third consecutive youth weekend away which was a big success and was attended by a range of young people including those with no church background, those with additional needs and many who had never had an opportunity to go on a weekend away before. We have maintained a presence in the local secondary school, running a weekly group to allow students to explore Christianity as well as leading assemblies and we have now been asked to assist in a number of RE lessons. |
Students |
During 2023 we continued to gather students and connect with a number of them through ministry during the week as well as Sunday evenings. During freshers week there was an exciting number of connections made with those new to the city and it was great to be able to invite and chat with many students about faith. In November we also took a number of students to the Peak District for a weekend away which was a great opportunity for relationships to be built and strengthened and for students to step into leading different areas, especially worship. |
At the end of the year there has been a change in leadership for students due to our curate going on maternity leave and so the lead minister has now taken on overseeing the group and will be reshaping and relaunching new initiatives as part of our student ministry for 2024. |
Alpha |
Alpha is an eleven-week course and gives guests an opportunity to explore questions of faith and the meaning of life. Each week the course consists of a meal, watching a talk and then time to discuss what has been watched. In 2023 we ran Alpha on Tuesday evenings in both the Spring and Autumn Term. Each course also has an 'away day' on a Saturday, which we run jointly with other churches at St Francis' Church, Mackworth. Last year it was great to have a mix of new and old team members, helping to run Alpha. Throughout 2023 it was a joy welcoming people onto the Alpha course who wouldn't normally go to church, and seeing people develop a faith in Jesus for the first time. |
Werb's Groups |
Following the relaunch of these groups in 2022, last year has seen them continue to grow and strengthen. They are the heartbeat |
of STW Derby and we have begun to develop a good pathway for people who are new to the church to connect in. Each term we run New to Werb's evenings with food and input from the lead minister. Out of this people learn more about the church and the vision and especially about Community groups and how to join one. The groups are places where we live in community where we eat, pray, and share life together. Werb's Communities are based primarily (not exclusively) on geographical locations (North, South, East, West and Central parts of the city. We have seen leaders develop and grow in their gifts and are grateful for so many being willing to step up and serve in this way. |
Prayer |
We have continued to pray every day on Zoom at 7am. A faithful and consistent community has formed and remained steadfast in their commitment to pray and seek God for our church, city and nation. We also held a 24/7 prayer room during May which was almost fully filled day and night. This helped to stir and engage prayer at a deeper level and was fascinating to be in the room over night or late in the night to raise awareness of the night time economy and many out and about on the street at that time. We have also continued to connect with City Vision events and have joined with the monthly prayer meetings for leaders as well as the City wide prayer events that have gathered people from across the different churches to unite in prayer. |
ST WERBURGH'S DERBY (REGISTERED NUMBER: 10743504) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FINANCIAL REVIEW |
Financial position |
At the end of the reporting period, the charity had total funds of £1,936,400. Restricted funds totalled £774,541 and unrestricted funds totalled £1,161,859. Of the £1,161,859 unrestricted funds, £857,657 were designated to the new building fund (representing the net book value of the new building and improvement works) and the remaining £304,201 were general unrestricted funds. |
In the year to the end of December 2023, the charity received a total of £432,518 against expenditure on charitable activities of £530,138. Expenditure on the purchase of fixed assets totalled £Nil. Restricted funds received in the period totalled £39,281, these were received for various projects such as Love Your Neighbour, Warm Welcome, The Garden Project, Living Room and other smaller projects. |
Over a period of six years, the charity had received £1,257,274 of funding from the Church Commissioners, and this funding ended during the 2021 financial year. Budgets, forecasts, and reserves are in place to support the transition to self-sufficiency in the coming years. |
Reserves policy |
The directors aim to hold free reserves (i.e. unrestricted funds less fixed assets) equal to approximately 3 months of expenditure as contingency for unexpected events. At the end of 2023 the balance of free reserves came to £239,456, which is sufficient to comply with the reserves policy. |
Additional reserves held as designated are detailed in the notes to the financial statements. |
FUTURE PLANS |
The Charity plans on continuing the activities outlined above in the forthcoming years subject to satisfactory funding arrangements. We hope to lease part of one of our buildings out commercially to generate additional revenue to fund our mission |
We will be continuing and developing the way we resource our church plants as well as planning for the next one whilst increasing our mission to young people in the city. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
St Werburgh's Derby is a Charitable Incorporated Organisation registered in the UK with The Charity Commission of England and Wales (registered number: 1175502). St Werburgh's Derby is governed by Memorandum and Articles of Association 27/04/2018 as amended by special resolution registered at Companies House 13/10/2017. |
Decision making |
The Trustees monitor and advise on financial and strategic decisions. They support the Leadership Team which directs the ongoing operations. The Finance Committee are responsible for making decisions on all matters of general concern and how the funds of St Werburgh's are to be spent. The Finance Committee is representative of the congregation and includes the Lead Minister, Operations Manager and Treasurer. |
Induction and training of new trustees |
Procedures for the recruitment and appointment of Trustees/Directors are laid out in the Memorandum and Articles of Association. New trustees are elected by members of the church. |
All staff, volunteers and Trustees undergo a formal recruiting and selection process, followed by an induction period that includes any training considered necessary to effectively perform their role. Senior Management of the church consists of clergy, whose pay is set via stipend, the level of which is set by the Diocese. |
Risk management |
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. |
ST WERBURGH'S DERBY (REGISTERED NUMBER: 10743504) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
SAFEGUARDING |
The Trustees have adopted the Church of England's safeguarding policy relating to children, young people and vulnerable people and have an appointed Parish Safeguarding Link who has completed the Diocese's training courses in safeguarding young people and vulnerable adults. |
The Directors are committed to the principles of best practice in relation to safeguarding and complies with the duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 in respect of having due regard to House of Bishops' guidance on safeguarding children and vulnerable adults. The guidance can be read in full on the Church of England official website. |
Use of the Parish Safeguarding Dashboard to audit our safeguarding practices is ongoing. This helps us to review our policies and procedures and ensures that our staff and volunteers have the correct level of training according to the Church of England guidelines. |
Safeguarding concerns within the church are dealt with using the support of the Safeguarding Team at Derby Diocese. We continue to work hard to make the church a safe and welcoming place for everyone. |
Approved by order of the board of trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
ST WERBURGH'S DERBY |
Independent examiner's report to the trustees of St Werburgh's Derby ('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 |
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies. |
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. |
David Bowler FCCA ACA BFP CTA |
Sibbalds Limited |
Chartered Accountants and Business Advisers |
Oakhurst House |
57 Ashbourne Road |
Derby |
Derbyshire |
DE22 3FS |
1 May 2024 |
ST WERBURGH'S DERBY |
STATEMENT OF FINANCIAL ACTIVITIES |
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Investment income | 3 |
Other income |
Total |
EXPENDITURE ON |
Charitable activities | 4 |
Social Action & Outreach | 10,023 | 24,327 | 34,350 | 46,500 |
Common Fund - Parish Share | 78,164 | - | 78,164 | 52,000 |
Church Planting | 29,672 | 2,346 | 32,018 | 22,109 |
Total |
NET INCOME/(EXPENDITURE) | ( | ) | ( | ) | ( | ) |
Transfers between funds | 14 | (65 | ) | 65 | - | - |
Net movement in funds | ( | ) | ( | ) | ( | ) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 1,218,797 | 815,223 | 2,034,020 | 1,953,584 |
TOTAL FUNDS CARRIED FORWARD | 1,161,859 | 2,034,020 |
ST WERBURGH'S DERBY (REGISTERED NUMBER: 10743504) |
BALANCE SHEET |
31 DECEMBER 2023 |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 11 |
CURRENT ASSETS |
Debtors | 12 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 13 | ( | ) | ( | ) | ( | ) | ( | ) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 14 |
Unrestricted funds: |
General Fund | 304,201 | 322,595 |
New Building Fund | 857,657 | 896,202 |
1,218,797 |
Restricted funds | 774,542 | 815,223 |
TOTAL FUNDS | 2,034,020 |
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. |
ST WERBURGH'S DERBY (REGISTERED NUMBER: 10743504) |
BALANCE SHEET - continued |
31 DECEMBER 2023 |
These financial statements have been prepared in accordance with and delivered in accordance with the special provisions applicable to small charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
ST WERBURGH'S DERBY |
CASH FLOW STATEMENT |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | (713 | ) | 192,394 |
Net cash (used in)/provided by operating activities | (713 | ) | 192,394 |
Cash flows from investing activities |
Purchase of tangible fixed assets | - | (297,904 | ) |
Interest received | 4,673 | 354 |
Net cash provided by/(used in) investing activities | 4,673 | (297,550 | ) |
Change in cash and cash equivalents in the reporting period | 3,960 | (105,156 | ) |
Cash and cash equivalents at the beginning of the reporting period | 254,111 | 359,267 |
Cash and cash equivalents at the end of the reporting period | 258,071 | 254,111 |
ST WERBURGH'S DERBY |
NOTES TO THE CASH FLOW STATEMENT |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES |
2023 | 2022 |
£ | £ |
Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities) | (97,620 | ) | 80,436 |
Adjustments for: |
Depreciation charges | 102,857 | 97,567 |
Interest received | (4,664 | ) | (354 | ) |
Decrease/(increase) in debtors | 13,077 | (4,559 | ) |
(Decrease)/increase in creditors | (14,363 | ) | 19,304 |
Net cash (used in)/provided by operations | (713 | ) | 192,394 |
2. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.1.23 | Cash flow | At 31.12.23 |
£ | £ | £ |
Net cash |
Cash at bank | 254,111 | 3,960 | 258,071 |
254,111 | 3,960 | 258,071 |
Total | 254,111 | 3,960 | 258,071 |
ST WERBURGH'S DERBY |
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. |
The presentation currency of the financial statements is the Pound Sterling (£). |
Income |
Donations and other income are recognised when received and, an estimate of income tax recoverable is recognised when the related donations are recognised. |
Grants and legacies are accounted for as soon as the church is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt is probable. |
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. |
Freehold property | - |
Long leasehold | - |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
All capital items are written off in the year of purchase except those costing over £1,500. |
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. |
ST WERBURGH'S DERBY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | ACCOUNTING POLICIES - continued |
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. |
Allocation of costs to charitable activities |
During the year it was identified that some of the charitable activities could be presented in a better way to more accurately present the activities of the charity. As a result, changes have been made to the allocation of these and in addition the comparatives have been adjusted to more accurately present the allocation of costs to each charitable activity. |
2. | DONATIONS AND LEGACIES |
2023 | 2022 |
£ | £ |
Donations |
Grants |
Grants received, included in the above, are as follows: |
2023 | 2022 |
£ | £ |
Diocese and Church Commissioners | - | 63,457 |
Other | 13,887 | 5,650 |
Church Revitalisation Trust | 20,000 | 33,950 |
33,887 | 103,057 |
3. | INVESTMENT INCOME |
2023 | 2022 |
£ | £ |
Interest on investments | 4,664 | 354 |
ST WERBURGH'S DERBY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
4. | CHARITABLE ACTIVITIES COSTS |
Support |
Direct | costs (see |
Costs | note 5) | Totals |
£ | £ | £ |
Students, Youth, Children & Communities | 103,275 | 47,128 | 150,403 |
Alpha & Events | 37,741 | 26,931 | 64,672 |
Mission Giving | 9,000 | - | 9,000 |
Worship & Services | 114,403 | 47,128 | 161,531 |
Social Action & Outreach | 27,617 | 6,733 | 34,350 |
Common Fund - Parish Share | 78,164 | - | 78,164 |
Church Planting | 25,285 | 6,733 | 32,018 |
395,485 | 134,653 | 530,138 |
Overheads have been allocated to activities based on the estimated time and resources spent on the area concerned throughout the period concerned. These allocations are estimated as follows: |
2023 | 2022 |
Students, Youth, Children & Communities | 35.00% | 35.00% |
Alpha & Events | 20.00% | 20.00% |
Social Action/ Outreach | 5.00% | 5.00% |
Church Planting | 5.00% | 5.00% |
Worship & Services | 35.00% | 35.00% |
-------------------- | -------------------- |
100.00% | 100.00% |
5. | SUPPORT COSTS |
Buildings | Governance |
Management | & maintenance | costs | Totals |
£ | £ | £ | £ |
Students, Youth, Children & Communities | 29,466 | 15,982 | 1,680 | 47,128 |
Alpha & Events | 16,838 | 9,133 | 960 | 26,931 |
Worship & Services | 29,466 | 15,982 | 1,680 | 47,128 |
Social Action & Outreach | 4,210 | 2,283 | 240 | 6,733 |
Church Planting | 4,210 | 2,283 | 240 | 6,733 |
84,190 | 45,663 | 4,800 | 134,653 |
ST WERBURGH'S DERBY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
6. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2023 | 2022 |
£ | £ |
Depreciation - owned assets |
7. | 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 |
During the year, expenses were repaid to three trustees totalling £525 (2022: £1,304). These were direct reimbursements of charity costs. |
De facto trustees |
During the year, expenses were repaid to one de facto trustee totalling £1,405 (2022: £3,285). These were direct reimbursements of charity costs. |
8. | STAFF COSTS |
2023 | 2022 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
163,486 | 179,495 |
The average monthly number of employees during the year was as follows: |
2023 | 2022 |
Employees |
ST WERBURGH'S DERBY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
9. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Investment income |
Other income |
Total |
EXPENDITURE ON |
Charitable activities |
Social Action & Outreach | 13,994 | 32,506 | 46,500 |
Common Fund - Parish Share | 52,000 | - | 52,000 |
Church Planting | 18,774 | 3,335 | 22,109 |
Total |
NET INCOME/(EXPENDITURE) | ( | ) |
Transfers between funds | 24,852 | (24,852 | ) | - |
Net movement in funds | ( | ) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 1,104,657 | 848,927 |
TOTAL FUNDS CARRIED FORWARD | 1,218,798 | 815,222 | 2,034,020 |
10. | INDEPENDENT EXAMINER'S REMUNERATION |
The independent examiners remuneration amounts to an independent examination fee of £3,200 (2022: £3,120) and other fees of £1,600 (2022: £1,560). |
ST WERBURGH'S DERBY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
11. | TANGIBLE FIXED ASSETS |
Improveme |
Freehold | Long | to |
property | leasehold | 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 |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
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 |
ST WERBURGH'S DERBY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
12. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Pensions control | - | 624 |
Prepayments and accrued income |
13. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Social security and other taxes |
Other creditors |
Pensions control | 1,526 | - |
Accruals and deferred income |
14. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1.1.23 | in funds | funds | 31.12.23 |
£ | £ | £ | £ |
Unrestricted funds |
General Fund | 322,595 | (18,329 | ) | (65 | ) | 304,201 |
New Building Fund | 896,202 | (38,545 | ) | - | 857,657 |
1,218,797 | (56,874 | ) | (65 | ) | 1,161,858 |
Restricted funds |
SDF Other Costs Non-Capital | 1,710 | (285 | ) | - | 1,425 |
SDF Refurbishment Non-Capital | 23,278 | (2,472 | ) | - | 20,806 |
SDF Refurbishment Capital | 142,830 | (28,206 | ) | - | 114,624 |
SDF Building Grant | 354,700 | (6,950 | ) | - | 347,750 |
Building Fund | 266,127 | (5,765 | ) | - | 260,362 |
Love Your Neighbour | 1,177 | 2,590 | - | 3,767 |
CRT New Building Improvements | 23,646 | (2,500 | ) | - | 21,146 |
Warm Welcome | 1,755 | (66 | ) | - | 1,689 |
City Vision | - | 825 | - | 825 |
Garden Project | - | (53 | ) | 53 | - |
Living Room | - | 2,148 | - | 2,148 |
Youth Easter Holiday Club 2023 | - | 1 | (1 | ) | - |
Youth Homework Club 2023 | - | (13 | ) | 13 | - |
(40,746 | ) | 65 | 774,542 |
TOTAL FUNDS | (97,620 | ) | - | 1,936,400 |
ST WERBURGH'S DERBY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
14. | 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 | 393,237 | (411,566 | ) | (18,329 | ) |
New Building Fund | - | (38,545 | ) | (38,545 | ) |
393,237 | (450,111 | ) | (56,874 | ) |
Restricted funds |
SDF Other Costs Non-Capital | - | (285 | ) | (285 | ) |
SDF Refurbishment Non-Capital | - | (2,472 | ) | (2,472 | ) |
SDF Refurbishment Capital | - | (28,206 | ) | (28,206 | ) |
SDF Building Grant | - | (6,950 | ) | (6,950 | ) |
Building Fund | 20 | (5,785 | ) | (5,765 | ) |
Love Your Neighbour | 20,000 | (17,410 | ) | 2,590 |
CRT New Building Improvements | - | (2,500 | ) | (2,500 | ) |
Warm Welcome | 7,050 | (7,116 | ) | (66 | ) |
City Vision | 1,383 | (558 | ) | 825 |
Focus Event | 1,630 | (1,630 | ) | - |
Garden Project | 4,000 | (4,053 | ) | (53 | ) |
Living Room | 2,705 | (557 | ) | 2,148 |
Youth Easter Holiday Club 2023 | 1,493 | (1,492 | ) | 1 |
Youth Homework Club 2023 | 1,000 | (1,013 | ) | (13 | ) |
39,281 | (80,027 | ) | (40,746 | ) |
TOTAL FUNDS | 432,518 | (530,138 | ) | (97,620 | ) |
ST WERBURGH'S DERBY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
14. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net | Transfers |
movement | between | At |
At 1.1.22 | in funds | funds | 31.12.22 |
£ | £ | £ | £ |
Unrestricted funds |
General Fund | 391,569 | (104,049 | ) | 35,075 | 322,595 |
New Building Fund | 713,088 | 193,337 | (10,223 | ) | 896,202 |
1,104,657 | 89,288 | 24,852 | 1,218,797 |
Restricted funds |
Diocesan Grants: Interns | 8,977 | - | (8,977 | ) | - |
SDF Other Costs Non-Capital | 22,706 | (20,996 | ) | - | 1,710 |
SDF Refurbishment Non-Capital | 5,320 | 18,768 | (810 | ) | 23,278 |
SDF Refurbishment Capital | 157,540 | 355 | (15,065 | ) | 142,830 |
SDF Building Grant | 361,650 | (6,950 | ) | - | 354,700 |
Building Fund | 271,912 | (5,785 | ) | - | 266,127 |
Love Your Neighbour | 20,822 | (19,645 | ) | - | 1,177 |
CRT New Building Improvements | - | 23,646 | - | 23,646 |
Warm Welcome | - | 1,755 | - | 1,755 |
848,927 | (8,852 | ) | (24,852 | ) | 815,223 |
TOTAL FUNDS | 1,953,584 | 80,436 | - | 2,034,020 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General Fund | 263,199 | (367,248 | ) | (104,049 | ) |
New Building Fund | 224,137 | (30,800 | ) | 193,337 |
487,336 | (398,048 | ) | 89,288 |
Restricted funds |
SDF Other Costs Non-Capital | 7,106 | (28,102 | ) | (20,996 | ) |
SDF Refurbishment Non-Capital | 20,120 | (1,352 | ) | 18,768 |
SDF Refurbishment Capital | 36,230 | (35,875 | ) | 355 |
SDF Building Grant | - | (6,950 | ) | (6,950 | ) |
Building Fund | - | (5,785 | ) | (5,785 | ) |
Love Your Neighbour | 9,526 | (29,171 | ) | (19,645 | ) |
CRT New Building Improvements | 25,000 | (1,354 | ) | 23,646 |
Warm Welcome | 1,960 | (205 | ) | 1,755 |
99,942 | (108,794 | ) | (8,852 | ) |
TOTAL FUNDS | 587,278 | (506,842 | ) | 80,436 |
ST WERBURGH'S DERBY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
14. | MOVEMENT IN FUNDS - continued |
Unrestricted funds |
The new building fund reflects monies which have been designated by the trustees with the purpose of financing the new premises at 11-12 Friar Gate. |
Restricted funds |
Strategic Development Funds (SDF) represent funds received from the Church Commissioners in relation to the purchase, improvement and development of the church. |
Total funding bids have been made to the Church Commissioners of £1,257,274 and these amounts were fully drawn down as at 31 December 2022, reflecting the costs incurred and covered by these grants. |
The building fund (non-SDF) reflects monies raised within the congregation and from elsewhere towards the purchase of the church building. |
Love Your Neighbour is a government matched funding fund for the provision of a pandemic response to those in need of food or employment. |
15. | EMPLOYEE BENEFIT OBLIGATIONS |
The charity participates in the Pension Builder Scheme section of Church Workers Pension Fund (CWPF) for lay staff. CWPF is administered by the Church of England Pensions Board, which holds the CWPF assets separately from those of the Employer and other participating employers. |
The scheme (Pension Builder 2014) is a cash balance scheme that provides a lump sum which members use to provide benefits at retirement. Pension contributions are recorded in an account for each member. Discretionary bonuses may be added before retirement, depending on investment returns and other factors. The account, plus any bonuses declared is payable, unreduced, from age 65. |
There is no sub-division of assets between employers in each section of the Pension Builder Scheme. |
The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This is because it is not possible to attribute the Pension Builder Scheme's assets and liabilities to specific employers and means that contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SoFA in the year are the contributions payable (2023: £17,770, 2022: £18,269). |
A valuation of the Pension Builder Scheme is carried out once every three years. The most recent valuation was carried out as at 31 December 2022. |
For the Pension Builder 2014 section, the valuation revealed a surplus of £8.5m on the ongoing assumptions used. There is no requirement for deficit payments at the current time. |
The legal structure of the scheme is such that if another employer fails, the charity could become responsible for paying a share of the failed employer's pension liabilities. |
ST WERBURGH'S DERBY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
16. | RELATED PARTY DISCLOSURES |
During the year, the charity entered into transactions with RDX Pro-Audio, a trading name of Simon Lewis who is a de facto Trustee. Purchases of £450 (2022: £23,931) were made during the year and the balance outstanding at the year end was £Nil (2022: £8,590). |
During the year, the charity entered into transactions with Elite Kitchens & Bathrooms (Cheadle) Ltd, a company who trustee Andrew Savage is a director of. Purchases of £64 (2022: £Nil) were made during the year and the balance outstanding at the year end was £Nil (2022: £Nil). |
During the year, the charity rented storage space to TOGS Clothing Bank who trustee Anthea Peters is the founder of. Sales of £2,400 (2022: £Nil) were made during the year and the balance outstanding at the year end was £Nil (2022: £Nil). |