CHARITY REGISTRATION NUMBER: 1020504 Raglan Road Christian Church Unaudited Financial Statements 31 December 2024 Raglan Road Christian Church Financial Statements Year ended 31 December 2024 Page Trustees, annual report Independent examinerfs report to the trustees statement of financial activities Statement of financial position statement of cash flows 10 Notes to the financial statements 11 The following pages do not form part of the financlal statements Detailed statement of financial ac'tivities 20 Raglan Road Chrlstian Church Trustees. Annual Report Year ended 31 Dacamber 2024 The trustee3 present thelr report and th8 unaudtted financial staf8menl8 ofthe Gharity for the year ended 31 December 2024. Reference and admlnlstrallve detalls Règlst•red charlty name Raglan Road Chrlstian Church Charity reglstration number 1020504 Prlnclpal office 70 Raglan Road SmethwiGk West Midlands B66 3ND The trustees DJ HarMII DJN Harilll 00 Odunbanjo NEJ Fanner OA Adenljl Bankers TSB Bank PIC 62-65 Cape Hill Smethwick West Mldlan(fjs B66 4PH Solicitors Pearce Legal LLP 2 The Square Solihull B913RD Company secretary Derek John Hartiii Structure, governance and management The trusl98s present th8ir report and the financial statements for the year ended 31st December 2024. The Irustees who served during the year and up to the date of this report are as listed Raglan Road Christian Church Trustees. Annual Report fwntlnued) Year ended 31 December 2024 Structurej goveman¢e and management {contlnuedJ Organlsatlonal 11 The Leadershlp toam,16d by our Senlor Pastor Gareth Brown, oversee the splrltual I￿e of Ihe church and the Admlnistralive, Financé and Propaty T6ams look after thg practlcal Issues. 21 Tho congregatlon, have al least one church business meetlng annually, atwhich presentations on our financial situation, major plans. and othar issues for discussion. 3) The trustees meet at least once per year. They are nominatad and appointad by existlng trustees backed by the Leadership T98￿, and ara all either committed ohurch member8 or trusled friends ofthe church. They help to ensure that the f nances are in good order and that the alms and objectives of the trust are belng carriad out. Tnjstees all hav8 COPl8s of Tha Essential Trustee" and ar8 fO￿arded the on-line Charity Commission updates. Trustees give their lime and service voluntarlly and new trustees are inducted individually as requlred. Decislon Making Process- The decisions are made by Ihe Leadershlp Team, who meet regularlythroughout th8 y6ar, th8y r6c6Ivo Inputfrom the Trust6es. Administrative, Financ8 and Prop8rty, and Operations Teams. Durfng the year there were church buslness update meetlng on the 4th of February 2024 to Impart vlslon and update members on flnance and prop8rt18s. Th9 ag8nda for thls is over88en by the Lead9rship Team, The Propertles Team, consisllng of Gareth Brown. Sara Mulenga, and John Farmer, meet regularly. Th8 Finance Team, consisting of Gareth Brovvn, Sara Mulenga meets regularly with Marian Amissah assisting with monthly end checks. Th8 trust has 8LlPPOrt from (xrtain work&rs who look aft8r the day-to-day management of the trust: Gar8th Brown - 27.5 hours p/w- 88nior Pastor (fgam L&ad8r) Sara Mulenga- 20 hours plw- Business Manager Duncan Smith - 6.25 hours plw- Estates Management Sarah Hartlll- 10 hours plw- Youth and Children's Co-offlinator Thg various actrvities of th8 church arB Oth8nNise caryled out by volunteers whose contribullon is essential and Invaluablel The Trust actively pursu8s a policy of making the faciliti&s availabl& to oth8r groups whosè aims m8tch our own. Assessment of Rlsk: The church has an up-to-date insurance pollcy, wlth Ansvar Insuranc8 which cov8rs buildings for both the church bulldlng and numbers 70 & 69 It also includes ¢ov8r for Public Liability, Employers Liability and Trustees indemnity. There are regular safety checks on Gas boilers, and electrical PAT fests. The church's kitchen arrangements continue to OP8rat8 In accordance wth th8 Sandwell FoodlHe8lth and Safely inspectlon vlslt. All 3 bulldings hava bean assessgd for fire risk and fir8 syslems tested. There is appropriate documentatlon of kltchen us& and cl&aning provision DBS Ghecks are up to date Raglan Road Chrlstlan Church Trustees. Annual Report Icontlnuedj Year ended 31 Dec6mber 2024 Slructure, governanco and management (contlnuodj Benefits.. We hold a s@rvlca of public worship every Sunday momlng, We also have regular me8tings for prayer whlch are open to the publlc. These are all advertlsed gilh6r vla our w8ekly notice sheet, notlce k)oard outslde the church, SOGlal medla or on our website. Believing in Jesus Christ and followlng hls tgachlng offers grgat benefits to the individual - forgiveness, peace of InSnd. a reason for living and hop8 for the future - and harmony for the community, because love and forgivenoss are at the heart of the Christian faith. Individual Chrisllans are part of a worldwide family, expressed in the local church - giving each person the sense of belonging and slgnlficance. Our church provid8s activities for local children and all of which are advertlsed - 8ith@r via our wgèkly notice sheet, notlce board Dutslde the church, social media or on our website. Followlng the teachlng of Jesus Chrlst also Snvolv8s spreading his message, both locally and throughout the world Raglan Road Christian Church Trustees. Annual Report I￿ntInued) Yèar 6nd6d 31 December 2024 Structure, gov8rnance and management {¢ontlnued) ObJ8cttV88 and activitie8 The Trust was establishod in Ma￿h 1987 according to the terms of the Declaration of Trust dated 2nd March 1987. The purpose of the Trust was for Ihe advancem8nt of th6 Chrlstlan falth, or In the relief of poverty and in partlcular for all or any of the following purposes, namaly: For evangellsm and teaching of Christian doctrlne either in Great Britain or elsewh8r8. To provid8 asslstance and financial and other support for Missionaries, Minist8rs and other Christian work8rs. For the r81ief of P8Ctrple in special poverty or need. To produce, publlsh and dlstribule Ilterature, films, recordlngs and materlals or any other communlcatlons medla on Chrlstlan subjects. To arrange, organlsg and prc>vid8 assistance, conf?r&nc8s, camps, hous8 parttes and other activities for Christlan t9aching and fellowshlp. TD provlde accommodation for Misslonaries and other Ghrlstlan worf (25,953) Adjustmgnts for.. Depreciatlon of tangible fixed assets Interest payable and slmilar charg85 7,261 67 9,144 74 Changes In.. Trad8 and other debtors Trade and oth8r creditors (1,680) 499 (2,135) 1412) (19,282) Cash generated from operatlons 5,624 Interest paid Net cash froml(used in) operating activities (871 5,557 (74) 119.356) Cash flows from inv88ting activiti8S PLtrchase oftsngible assets Net cash used in investing activities {1,3201 (1.3201 (1,935) (1,9351 Net incr&asèl{decrease) in cash and cash oquwalonts Cash and cash equtvalents at beginnlng of year Cash and cash equlvalents at end of year 4,237 11,131 15,368 <21,291) 32,422 11,131 Th6 noto5 on pag85 11 to 18 form part uf thèse flnanclal statements. 10 Raglan Road Christian Church Notes to the Financial Statements Year ended 31 December 2024 General Informatlon Tha charlty Is a publlc benefSt ants'ty and a regist8r6d charlty In England and Wales and is unincorporated. The addrass ofth8 principal offlce Is 70 Raglan Road, Smothwick, West Mldlands, B66 3ND. statemgnl ol compllanco These financial statements have been prepar8d In compliance wlth FRS 102, 'The Flnancial Rgporting Standard applicabl8 in the UK and the Republic of Ireland,. the Statement of Re¢ommend6d Practs'c8 applicable to charlties preparing their accounts in accordance with the Flnancial R6porting Standard appllcable in tha UK and Rapublic of Ireland {FRS 102) (Charities SORP {FRS 102)) and the Charilies Act 2011. Accounting policies Basis of preparatlon The flnanGial stat6ments have been prepared on the hlstorical cost basls, as modified by tha r8v8luatlon of certaln flnanclal ass@ts and li8biltti8s and Investrnent properties measured at fair value through income or expanditure. The financial statements are prepared in sterling. which is the functional currency of Ui8 entity. Golng conGem There 8r6 no materlal uncertalntles about the charity'8 abillty to continue. Fund accountlng Unr88trict8d funds are available for use at th8 discrétion of the trustées to further any of tha chadty's purposes. Deslgnated funds are U￿res￿c1ed funds earmarf(ed by the Irustees for particular fu￿r& project Dr commitment. Restricted funds ar8 subjected to resfrlctions on their 8xpendlture declared by the donor or through the terms ofan appeal, and fall into one of two sub-classes: restricted income funds or endowment funds. 11 Raglan Road Christlan Church Notes to the Flnanclal Statements (conunuod) Yoar anded 31 Decémber 2024 Accountlng pollclos (oontlnued) Incomlng resources All Incomlng resources ar8 included In the st£tement of financlal activities when entitlement has passod to the charity" it is probable that tha economic benaffts assocSated WFth the transaction witt flow to the charity and the amount can be reliably measured. The following Speclfic pollcles aro applied to particular categorles of incoma: incorng from donatlons or urants is recognls&d when there Is evldence of enlltlanfjent to thg glft, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitl&ment Is estsblished. income from donated good8 is m8asured at the fair valu8 of tha goods unl888 thls Is impractical to mgasure rellably, In which case the value is deriv8d from th8 cost to the donor or the estimated resa16 value. Donated facilities and sewlces are recognised in the accounts when received if the value can be reliably m&asured. No amounts ar8 included for the contribution of g8neral volunteers. income from cL)ntracts for the supply of seNlces Is recogn15ed with the deliv8ry of th contracled service. This is cla8sifi8d a8 unrestricted funds unless there Is a contractual requirement for It to be spent on a partlcular purpose and r6turri8d if un8pent. in which case it may b8 r8garded as r6Stricted. Resources expended Expenditur6 is r6cognisgd on an accruals basls as a Ilablllty is incurred. Expendlture includes any VAT which cannot be fully recovered, and is classtfied under headlngs of the stat8ment of financlal activities to which it rglates,. exp&nditur8 on raising funds Includes the costs of all fundraising activities, 8V8nts, non- charitable trading activili8s, and th8 sal@ of donated goods. expenditure on charltable activities includes all costs Incurred by a charily in undertaklng activities that further Its charitsble aims for the b8n8fit of its beneficiaries, including those support costs and costs relatlng to the governance of the oharlty apportioned to charitable activities. other expendlture includes all expenditure that is neither related to raising funds for the charlty nor part of tts expendlture on charltable.a¢livlties. All costs are allocated to expenditure categorles reflecting the use of the resource. Direct costs attrtbutable to a single activity ar6 allocated directty to that activity. Shared costs are apportioned be￿￿en the activlties they contributo to on a reasonable, justifiable and consistenÉ basis. Tanglble assets Tangible assets are initially recorded al cost, and subsequently stated atcost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts ere recorded at the fair value at the date of revaluation less any subsequant accumulated depreciation and subsequent accumulatgd impairment losses. 12 Raglan Road Christian Church Notes to the Flnancial Statements (confinuedj Year ended 31 December 2024 Accountlng pollcle8 (conflnuod) Tangible as88ts {contln419d) An In¢r8ase In th8 carrying amount of an asset as S result of a revaluation, Is recognlsed in other recognlsed galns and10sses, unless It reverses a charge for Irnpairment that has previously been recogni8ed as 8xpenditure within the statement of fSnan¢ial activities. A decrease In th8 carrylng amount of an asset as a result of revaluation, Is recognised in other recognised gains and losses, exc8Pt to whlGh it offsets any prevlous r8valuatlon gain, In which casa the loss Is shown wlthln other recognlsed galns and108ses on the statement of financial activities. Depréclation Depreciatlon is calculated so as to wrrte off the cost or valuatlon of an asset, less Its resldual value. OV8r th8 useful economic Ilfe of that asset as follows: Llbrary Books Flxtures and fittings Computer Equlpment 50/1 reduclng balance 250/0 reducing balance 301/0 1-8ducing balance Impalrment of flxod assets A review for Indicators of Impairm8nt is carried out at each reporting dat8, With the recoverable amount belng estimated wher8 such Indicators exist. Wh8r6 the carrying value exceeds the recoverable amount, the ssset is Impalred accordingly. Prlor impaimiants are also reviewed for possib18 reversal ateach reporting date. For fhe purposes of impairment tesllng, when it is not possible to estimate the recoverable amount of an individual asset, an estlmate is made of the recoverable amount of the cash-generating unit lo whlch the asset b&longs. The cash-generating unit is the smallest identiflable grcup of assets that includ88 th6 asset and generates cash inflows that largely indepandant of thé cash inflows from other assets or groups of assets. For impairment testing of goodwlll, the goodwill acquired in a business combinatlon is, from the acquisition date, allocated to each of the cash-generatlng units that are expected to beneflt from the Synergies of the combination, irrespective of whether other 8SS&ts or liabllltles of the charity are asslgnad to thosè unlts. Financial Instruments A financlal asset or a financ121 Siabillty Is recognisad only when the charity b8c£)mas a party to th8 contractual provislons of the instrument. Basic financial inslruments are initially recognlsed at the amount receivable or payable Including any rglated transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounled. Debt instrumerrts are subsequenly measurod at amortised cost. 13 Raglan Road Chrlstlan Church Notes to the Flnanclal Statements f¢onllnued) Year ended 31 D6cember 2024 AGcountlng pollcles {contlnued) Financial instruments (condnu•dJ Where investments in shares are publicly traded or their fair value can otherwise b8 m8asured reliabty, the investment is subsequently measured at falr v81ue with changes In falr value recognised in income and expenditure. All other such investments are 8ubsequ6ntly mgasured at cost less impairment,. Other flnancial Instruments, includlng d8riv8tives, are initially r8cognised at'falr value, unless payment for an asset Is defe￿ed beyond normal business terms or financed at a rate of interest that Is not a market rate, in which cas8 tho assat Is measured at the present value of the future payments discounted at a market rate of Interest for a similar debt instrument. otherfinancial instrum6nts are subs8qu@ntly measured atfalr value, with any changes recognised in the statement of financlal activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measur8d at cost or amortised cost are reviewed for objective evidence of Impalmient at the end of each reportlng date. If there is objectiv8 8vidence of impaimient, an impairm8r)t Ios5 is r8cognised und9r Ihe approprlate heading in the statement of financial activities In whlch the Inltlal gain was recognised. For all equity instruments r8gardlgss of sIgnlncan￿, and other flnanclal assets that are indlvidually signrficant. these are assessed individually For impairment. other flnanGlal assets are either assessed indlvldually or grouped on the basls of similar credit risk charact8ristics. Any reversals of impairment are recognisgd imm8diately, to the ext&nt that the reversal does not result In a carrylng amount of the financlal asset that 8xceeds wh8t the carrying amount would have be8n had the impairment not previousSy been r¢cognised. Deflned contrlbutlon plans Contributions to defined contribution plans are recognised as an expense in the peried in which the related service is provided. Prepaid contributions are racDgnised as an asset to the extent that the prepayment wlll lead to a reduGtlon In future payments or a cash refund. When conlrlbutlons ar8 not expected to be $8ttled wholly wllhin 12 months of the end of the reporting date in whlch Ihe employees render the related service. the liability is measured on a discount8d pr6s8nt valu8 basis. The unwinding of the dlscount is recognised as an expense In the period in which It arises. Donatlons and legacles Unrestricted Funds Restrlcted Total Funds Funds 2024 Donatlons Donations 56,522 13,350 69.872 14 Raglan Road Christian Church Notes to the Financial Stat6ments (contlnuedj Year ended 31 December 2024 Donations and lega¢ies (contlnuod) Unrestrlcted Funds R8Strlcted Total Funds Funds 2023 Donatlons Donations 44,428 44,426 Charitabl6 actlvltles Unrestrlcted Total Funds Unrestrict6d Total Funds Funds 2024 Funds 2023 Other income 13,965 13,965 12,250 12,250 other In¢omo Unrestrict8d Funds Restricted Total Funds Funds 2024 Tax Reclaim 9,201 4,645 13,846 UnrgStrict6d Funds Restrlcted Total Funds Funds 2023 Tax Reclaim 13,275 740 14.015 Cost8 of rnlslng donatlons and legacles Unrestricted Funds Restricted Total Fund5 Funds 2024 Costs of raising donations and legacies - Donations 75,905 19,118 95,022 Unrestrlcted Funds Restrtcted Total Funds unds 2023 Costs of raising donations and legacles - Donations 91,382 91,382 Expendlture on ¢harltablo activltles by fund type Unrestrlcted Totsl Funds Unrestricled Total Funds Funds 2024 Funds 2023 Support costs 67 87 73 74 15 Raglan Road Christian Church Notas to the Flnancial S,tatementS (conllnu8rlJ Year ended 31 December 2024 Expendlture on charitable actlvlties by activity type Support Total funds costs 2024 Total fund 2023 Interest Payable & Similar Charges e7 67 74 10. Other expenditure Unrestricted Total Funds UnrgstriGt8d Total Funds Funds 2024 Funds 2023 G@n8ral Expenses Cleaning and Waste Removal Consultancy 1,623 1,070 424 1,623 1,070 424 2,257 2,761 170 2,257 2,761 170 3,117 3,117 5,188 5,188 11. Net expendlture N8t expenditure Is Slated after chargingl{credltlng)-. 2024 2023 Depreciation of t8ngible fixed assots 7.261 9,144 12. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows.. 2024 2023 Wages and salarles Employer contributions to pension plans 35,543 5.808 41,351 47,120 2,954 50,074 The average head count of employees during the year was 4 {2023: NII}. No employee received employ88 b&nefits of more than £60,000 during the year {2023- Nil). 13. Trustee remuneratlon and expenses no remuneration or oth8r beneffts from amployment wlth the charity or a related 6ntity warg recelved by the trustees., or 16 Raglan Road Chrlstian Church Notes to the Financial Statements (¢onllnu8d) Year endad 31 December 2024 14. Tanglble flxed assets Freehold Plant and FExlures and proparty machinery fittings Equlpmént Total Cost At 1 Jan 2024 Additlons 569,721 31,757 122,072 1,320 16,890 740,440 1,320 At 31 Dec 2024 569,721 31.757 123,392 16,890 741,760 Depreclatlon At 1 Jan 2024 Charg8 for the year At 31 Dec 2024 22,814 97,350 6,511 15,880 303 138,044 7,261 23,261 103,861 16,183 143,305 Carrylng amount At 31 D8c 2024 569,721 8.496 19,531 24,722 707 598,455 At 31 Dac 2023 569,721 8,943 1,010 604,398 15. D8btor8 2024 2023 Trade debtors Other debtors 2,205 2,480 1,519 1,486 4.685 3,005 16. Creditors: amounts falling dug wlthln one year 2024 2023 Trade creditors Wages Control Account 64 2S6 {139} (139) 360 17. P8nslons and other post retirement benefits Defined contribution plans The amount recognised in income or exp9nditure as an expense In ralation to defined contributlon plan5 was £5,808 (2023: £2,954). 17 Raglan Road Chrlstian Church Notes to the Flnanclal Statements (conflnuedj Year ended 31 Decemb6r 2024 18. Analy8ls of charltable funds Unrestrlcted funds At 1 Jon 2024 At Income Expenditure 31 Dec 2024 General funds Unrestricted fund 10,757 426.717 79,688 (79,0891 11.356 426,717 438,073 437,474 79,688 (79,0891 At 1 Jan 2023 At Income Expenditure 31 Dec 2023 General funds Unrestrlcted fund 36,710 426,717 463,427 69,951 (96,643) 10,018 426.717 69,951 (96,643) 436,735 Restrlcted funds At 1 Jan 2024 At Income Expenditure 31 Dec 2024 Restricted Fund Restrlcted fund 17,995 (19,118) (1,123) 181,197 180.074 181,197 181,197 17,995 (19,118) At 1 Jan 2023 At Income Expendlture 31 Dec 2023 Restricted Fund R2strl¢ted fund 740 740 181,197 181,937 181,197 181,197 740 19. Analysls of changes In net debt At At 1 Jan 2024 Cash flows 31 De¢ 2024 Cash at bank and In hand 11,131 4,237 15,368 Raglan Road Christlan Church Managem6nt Information Yèar énded 31 December 2024 The followlng pages do not form part of thè flnanclal statemen*s. 19 Raglan Road Chrlstlan Church Dètailed Ststemént of Flnancial Activities Year anded 31 December 2024 2024 2Q23 Income and endowments Donatlons and legacles Donations 69,872 44,426 Charltable actlvllles Other income 13,965 12,250 Other Income Tax R6claim 13,846 14,015 Totsl Income 97,683 70,691 Expenditura Costs of ralslng donatlon$ and legacies Wages and 8alarias Penslon costs Rat&s and water Insurance other motorltravel costs Telephon8 Depreciation Repalr & Malntenance Lit8r8tur8 and Multi-M8dia Prlntlng Postage & Statlonery Kitchen Exp8nditurg Conference Fees & Other Meetings Mission & Evangelism Subscription Rent & Rates Light & Heat 35,543 5,808 465 4,880 150 1,358 7,260 19,494 20 41 1,476 425. 1,427 2,909 4,290 9,478 47,120 2,954 457 4,867 1,068 1,178 9,144 2,658 715 284 1,939 1,691 1,949 4,668 2,089 8,603 95,022 91,382 Expenditure on charitable activities Other Interest payable and similar charges 67 74 Other expendlture General Exp8nses Cleaning and Wa8le Removal Consultancy 1,623 1,070 424 2,257 2,761 170 3,117 5,188 Total expendlture 98,206 96,644 20 Raglan Road Christian Church Detailed Statement of Financial Activities {contlnued) Year anded 31 December 2024 2024 2023 Net expenditure (523) (25,953) 21