Charity Registration No. 1034774 FIRST CHURCH OF CHRIST, SCIENTIST, OXFORD ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Ayshawgibbs
FIRST CHURCH OF CHRIST, SCIENTIST, OXFORD LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mrs J S Gooch Mr P Harris Ms A Badamchi-zadeh Ms E Hood Ms F P Mutambara (Appointed 6 March 2023) (Appointed 6 March 2023) (Appointed 4 March 2024) Charity number 1034774 Principal address 36a St Giles Oxford OX13LD Independenl examiner Shaw Gibbs Limited 264 Banbury Road Oxford OX2 7DY
FIRST CHURCH OF CHRIST, SCIENTIST, OXFORD CONTENTS Page Trustees. report Stslement of trustees, responsibilities Independent examine¢s report statement of financial activities Balance sheet Notes to the financial statements 7-13
FIRST CHURCH OF CHRIST, SCIENTIST, OXFORD TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees present their annual report and financial statements for the year ended 31 December 2023. The accounts have been prepared in accordan with the accounting policies set out in note 1 to the accounls and comply with the charity's deed of trust, the Charities Act 2011 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland {FRS 102)" (as amended for accounting periods commencing from 1 January 20161 Structure, governance and management The trustees who seNed during the year and up to the date of signature of the financial statements were.. Mrs J Gooch {Appointed 6 March 20231 Mr P Harris {Appoinled 6 March 2023) Dr P Naden {Retired 6 March 20231 Ms A Badamchi-zadeh Ms E Hood Mrs D Sears Ms F P Mutambara {Appointed 6 March 2023- retired 4 March 2024} {Appointed 4 March 20241 The church is registered with Ihe Charity Commissioners (No. 1034774) and constituled by Deed of Trust. Ils affairs are run in accordance with its Bye-Laws, which in tum relate to provisions of the Manual of The Mother Church, The First Church of Chrisl, Scientist, in Boston MA, USA, covering branch church conduct and g0veman. During the year under review. the holding Trustees We Dr Pamela Naden, Mr Michael Harding, Mrs Rulh Harris (until 17 June 20231 and Mr Paul Harris (from 2 Odober 2023). The general business and day to day management of the church propety is conducted on behalf of the church members by an Executive Board (the Charity Trustees as defined by the Charity Commission) comprising five members, who elect a chaimian from amongst their number. Three members constitute a quorum. Board members, who must be members both of this branch church and of The Mother Church, are elected annually by the church members. No person may serve more Ihan three consecutive years. Board members normally take up their duties on the first Monday in March. Objectives and activities Objects The object of the charity is to promote the understanding and demonstration of truth as found in the bible and inlerpreted in the Christian Science text book. The Charity has three {holding) Trustees, vthose duty is to hold on trust the church property for the general purposes of the church. and specifically to pennit tl to be used.. 1. for promoting the truths oflhe Bible as explained by Mary Baker Eddy, the Discoverer and Founder of Christian Science 2. for the purpose of holding all ServIS and meetings authorised by the Manual of The Mother Church or by the Christian Science Board of Directors 3. for any other activity which advances the cause of Christian Scien. In setting ihe objectives the chartty Trustees have read and paid due regard to the Charity Commission's general guidance on public benefft. The Trustees consider the availability of the charity's church and reading room in St Giles Oxford for prayer and public services to be the prinupal public benefit.
FIRST CHURCH OF CHRIST, SCIENTIST, OXFORD TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Review Of The Year The objects of the Charity were fuffilled by the following activities= A Sunday service and Sunday School was held on every Sunday of the year. Sunday Service was simultaneously available on-line for those preferring that option. A Wednesday evening (testimony) meeting was held on4ine every Wednesday in the year, with informalion regarding public access provided on our website. A Thanksgiving service was held on-line on the fourth Wednesday in November. One in-person Christian Science lecture was sponsored by the church and held on 161h April 2023- a second on4ine lecture was c(Fsponsored by the church along with other Christian Science churches in the UK. A Reading Room has been maintained by the church and has been open to the public one day a week throughout the year, except for bank holidays. The contents of the showcase in the gate are changed each week to provide a helpful article from the Christian Science Monitor and extracts from our weekly Bible Lesson for passers-by to read. The display also contains our webstte address for contact details, including those of the Reading Room. and on4ine servIs. Achievements and perfonnance The financial results for the year are shown in the statement of financial activibes on page S. Financial review Income lax recoverable in relation to donations received under Gfft Aid or deeds of covenant is recognised at the time of the donalion. The trustees, report was approved by the Board of Trustees. Mr P Harris Truslee Dated.. 28 Jun 2024
FIRST CHURCH OF CHRIST, SCIENTIST, OXFORD STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees are responsible for preparing the Trustees. Report and Ihe accounts in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generalty Accepted Accounting Practice). The law applicable lo charilies in England and Wales qUireS the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the chartty for Ihat year. In preparing these accounts, the trustees are required to= select suitable accounting policies and then app them consistentty.. observe the methods and principles in the Charities SORP FRS 102., make judgements and estimates thal are reasonable and prudent., slate whether applicable accounting stsndards have been followed, subject to any material departures disclosed and explained in the accounts., and prepare the accounts on the going concem basis unless tl is inappropriate to presume that the chartty will continue in operation. The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounls comply with the Charities Act 2011, the Charity {Accounts and Reports} Regulations 2008 and the provisions of the Irusl deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and deteclion of fraud and olher irregularilies. Independent Examiner S Daniels has been appointed as independent examiner for the ensuing year.
FIRST CHURCH OF CHRIST, SCIENTIST, OXFORD INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FIRST CHURCH OF CHRIST. SCIENTIST, OXFORD I report to the trustees on my examination of the finanual statements of First Church of Christ, Scientist, Oxtord (the charity) for the year ended 31 Dember 2023. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requiremenls of the Charilies Acl 2011 (the 2011 Act). Having satisfied myself that the financial statements of the chartty are not required to be audiled under the 2011 Act, I report in respect of my examination of the charity's financial statements carried out under section 145 of Ihe 2011 Act. In carrying oul my examination I have followed all the applicable Directions given by the Charity Commission under section 14515)Ibl ofthe 2011 Act. Independenl examinerfs statement I have completed my examinalion. I confimi Ihat no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect- accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act.. or the financial statements do not accord with those records., or the financial statements do not comply with the applicable requirements conMIng the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concems 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 understsnding of the financial ststements to be reached. Samantha Daniels FCA for and on behalf of Shaw Gibbs Limited 264 Banbury Road Oxford OX2 7DY 28 Jun 2024 Dated..
FIRST CHURCH OF CHRIST, SCIENTIST, OXFORD STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricted funds 2023 Unrestricted funds 2022 Notes Income and endowments from: Activities for generating funds Inveslment income Voluntary income 581 29,461 7.667 448 25,822 8,917 Total income 37.709 35,187 Expenditure on: Raisin funds Fundraising and publicity 711 862 Charitable activities 35,730 30,380 Total expenditure 36,441 31,242 Net gainslllosses) on investments 11 47,680 (78,118) Net incomel{expenditure) and movement in funds 48.948 {74,173) Reconciliation of funds- Fund balances at 1 January 2023 1,627,449 1,701,622 Fund balances at 31 December 2023 1,676,397 1,627,449 The statement of financial activities includes all gains and losses COgnised in the year. All income and expenditure derive from continuing activities.
FIRST CHURCH OF CHRIST, SCIENTIST, OXFORD BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Notes Fixed assets Tangible assets Inveslments 13 14 890,389 677,131 890,549 629,451 1,567,520 1,520,000 Current assets Deblors Cash at bank and in hand 15 2,653 108.744 5,111 103.778 111.397 108.889 Creditors: amounts falling due within one year 16 (2.5201 (1.4401 Net current assets 108,877 107,449 Total assets less current liabilities 1.676,397 1,627,449 Net assets excluding pension liability 1.676,397 1,627,449 The funds of the Charity Unrestricted funds 1.676,397 1.627,449 1.676,397 1.627,449 The financial statements were approved by the trustees on 28 Jun 2024 Mr P Harris Trustee
FIRST CHURCH OF CHRIST, SCIENTIST, OXFORD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies Charity infonnation First Church of Christ. Scientist. Oxford is an unincorporated charity registered in England and Wales, and is constitued by Deed of Trust. The registered office is 36A St. Giles,, Oxford, OX1 3LD. 1.1 Accounting convention The financial slatemenls have been prepared in accordance wtth the charity's Igoveming documenll, the Charities Act 2011. FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102.1 and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordan wtth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019)- The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Slatement of Cash Flows. The financial statements are prepared in sterling, which is Ihe functional currency of Ihe charity- Monetary amounts in these financial statements are rounded to the nearest £. The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are sel oul below. 1.2 Going concern At the time of approving the financial statements, 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 lo adopl the going concem basis of accounting in preparing ihe financial slatements. 1.3 Charitable funds Unreslricled funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. 1.4 Income Income is recognised on a receivable basis. 1.5 Expenditure Expenditure is recognised On there is a legal or constructive obligation to transfer economic benefit to a third paty, it is probable that a transfer of economic benefits will be required in seluement, and the amount of the obligation can be measured reliabty. Expendilure is classified by activty. The costs of each aclivty are made up of the tolal of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single aclivity are allocated directly lo thal activity. Shared costs which contribute to more than one activity and support cosls which are not attribulable to a single aclivtty are apportioned between those aclivilies on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreualion charges are allocated on the porbon of the asset's use. Expenditure is recognised in the year in which it is incurred.
FIRST CHURCH OF CHRIST, SCIENTIST, OXFORD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies (Continued) 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequentty measured at cost or valualion, net of dePreallOn and any impairment losses. All fixed assets are initially recorded at cost. Freehold property Capital improvements Fixtures, fitting5 & equiprnent not provided not provided 15 % reducing balan The freehold propety is shown in the accounts at historical cost. No depreciation is provided, as it is the charity's policy io mainlain the properties in good repair. Consequently. the trustees consider the life of the properties to be so long that there is no significant depreciation or impaimient. Because the trustees consider the current residual value of all the properties in Iheir present condition to be nol less than the values shown and, in the absence of any evidence of impairment. any depreciation provision for the buildings component of the property would be immaterial. 1.7 Fixed asset investments Fixed asset investments are initialty measured at transadion pri excluding transaction costs, and are subsequently measured al fair value at each reporting date. Changes in fair value are recognised in nel incomel(expenditure) for the year. Transaction costs are expensed as incurred. 1.8 Impaimient of fixed assets At each reporting end date, the charity reviews the carying amounts of its tangible assets to determine whether there is any indication that Ihose assets have suffered an impaimienl loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss {rf any). 1.9 Cash and cash equivalents Cash and cash equivalents indude cash in hand, deposits held at call with banks, other short-temi liquid inveslments with original malurities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in cuent liabilities. 1.10 Fund accounting The Capitsl and Maintenance Designated Fund is an unrestricted fvnd earmarked by the trustees. Critical accounting estimates and judgements In the application of the charity's accounting poliaes. the trustees are required to make judgements, estimates and assumptions about Ihe carying amount of assets and liabililies that are nol readily apparenl trom olher sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and undertying assumptions are reviewed on an ongoing basis. Revisions to accounting eslimates are recognised in the period in which the estimate is revised where Ihe revision affecls only thal period, or in the period of the revision and future periods where the revision affects both current and future periods.
FIRST CHURCH OF CHRIST, SCIENTIST, OXFORD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Income from activities for generating funds Unrestricted Unrestricted funds funds 2023 2022 Reading room sales 581 448 Income from investments Unrestricted Unrestricted funds funds 2023 2022 Income from listed investments Interest receivable 24,911 4,550 24,496 1,326 29,461 25,822 Voluntary income Unrestricted Unrestricted funds funds 2023 2022 other income Collections including grfl aided Gift aid tax refundable 52 7,430 1,435 6,148 1,455 7,667 8,917
FIRST CHURCH OF CHRIST, SCIENTIST, OXFORD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Expenditure on charitable activities Unrestricted Designated funds funds 2023 2023 Total Unrestricted Designated funds funds 2022 2022 Totsl 2023 2022 Direct costs Depreciation and impairment Building maintenance and running costs Leclures and publications Honoraria, fees and reimbursed direct expenses Donations Sundry other Examiners remuneration Reading room publicalions 160 160 188 188 14,406 1.758 2,874 17,280 1.758 14,133 2,426 16,559 4,969 4,000 1,035 983 2,580 4,969 4,000 1,035 983 2,580 4,141 2,500 1,526 936 1,560 4,141 2,500 1,526 936 1,560 2,965 2,965 2,970 2,970 32,856 2,874 35,730 27,954 2,426 30,380 Analysis by fund Unrestricted funds 32,856 2,874 35,730 27,954 2,426 30,380 Expenditure on raising funds Unrestricted Unrestricted funds funds 2023 2022 Costs of generating funds Advertising 711 862 Net movement in funds 2023 2022 The net movement in funds is stated after chargingl(credits'ng)= Depreciation of owned tangible fixed assets 160 188 Trustees Trustees received £1,168 {2022= £1,577) for provision of seNices to the charity, unrelated lo their role 8S Iruslees. There were no reimbursed expense to trustees related to their role as trustees. 10-
FIRST CHURCH OF CHRIST, SCIENTIST, OXFORD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 10 Employees The average monthly number of employees during the yearwas.. 2023 Number 2022 Number Total There were no employees whose annual remuneration was more than £60.000. 11 Gains and losses on inveslments Unrestricted Unrestricted funds funds 2023 2022 Gainsl{lossesl arising on.. Revaluation of investments 47,680 (78,118) 12 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 13 Tangible fixed assets Fr<•hold Capitsl prOrtY improvements Fixtums. rIng3 & gquipment Total Cost At 1 January 2023 Disposals 361,000 528,487 2,879 1730) 892,366 {730) At 31 December 2023 361,000 528,487 2,149 891,636 Depreciation and irnpainnent At 1 January 2023 Deprecialion charged in the year Eliminated in respect of disposals 1,817 160 1730) 1,817 160 {730) At 31 December 2023 1,247 1,247 Carrying amount Al 31 December 2023 361,000 528,487 902 890,389 Al 31 December 2022 361,000 528,487 1,062 890,549 11
FIRST CHURCH OF CHRIST, SCIENTIST, OXFORD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 14 Fixed asset investments Listed investments Cost or valuation At 1 January 2023 Valuation changes 629,451 47,680 At 31 December 2023 677,131 Carrying amount At 31 December 2023 677,131 At 31 December 2022 629,451 15 Debtors 2023 2022 Amounts falling due within one year: Trade debtors Olher debtors Prepayments and accrued incorne 2,456 1,065 1,590 983 1.670 2.653 5.111 16 Creditors: amounts falling due within one year 2023 2022 Accruals and deferred income 2,520 1,440 17 Unrestricted funds The unreslricled funds of the charity comprise the unexpended balances of donalions and grants which are not subject to specific conditions by donors and grantors a5 to how they may be used. These include designated funds which have been set aside out of unrestrided funds by the trustees for specific purposes. At 1 January 2023 Incoming resources Resources expended Gains and losses At31 December 2023 Designated fund General funds 1,581,802 45,647 4.000 33.709 (2,874) (33,567) 47,680 1,630,608 45,789 1.627,449 37.709 (36,441) 47.680 1,676,397 12-
FIRST CHURCH OF CHRIST, SCIENTIST, OXFORD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 17 Unrestricted funds (Continued) Previous year: At 1 January 2022 Incoming resources Resources expended Gains and losses At31 December 2022 Designated fund General funds 1.659,346 42,276 3.000 32.187 (2,426) (28,816) (78,1181 1,581,802 45,647 1,701,622 35.187 (31,242) {78,1181 1,627,449 Designated fund This fund is a capilal and Maintenan fund representing amounts set aside by Ihe trustees lo finance bolh capital improvements to the land and buildings as well as the cost of general repairs and maintenance. 18 Related party transactions There were no disclosable related party transactions during the year (2022 - none). 13-