Woodham Chrlstian Centre Ltd. CharSty No. 1035837 Company No. 02813517 Trustees, Report and Unaudited Accounts 31 October 2024
Woodham Christian Centre Ltd. Contents Pages 2to3 Trustees, Annual Report Independent Examiner's Report Statement of Financlal Activitles Summary Income and Expenditure Account Balance Sheet Statement of Cash flows Notes to the Accounts 9t014 Detalled Statement of Financlal Activities 15 Page I
Woodham Chrlstian Centre Ltd. Trustees Annual Report The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report wlth the unaudited financial statements of the charity for the year ended 31 October 2024. REFERENCE AND ADMINISTRATIVE DETAILS Company No. 02813517 Charlty No. 1035817 Reglstered Offlce Bethany House Village Close Woodham Villa8e County Durham DL54UD Directors and Trustees The Directors of the charitable company are Its Trustees for the purposes of charity law. The followin8 Dlrectors and Trustees served during the year: C. Brown S. Foster K. Horn W. Jose C. Mills C. Rowland l. Rowland Company Secretary l. Rowland Accountants Brewster & Co (NE) Ltd 5a Station Terrace East Boldon Tyne & Wear NE36 OU OBJECTIVES AND ACTIVITIES The purpose of the charity as set out in its governin8 document are the provision of charltable service and the advancement of religion and education. ACHIEVEMENTS AND PERFORMANCE The Charity continues to Improve on a financial basis. There were no matters of note, PLANS FOR FUTURE PERIODS Page 2
Woodham Christian Centre Ltd. Trustees Annual Report The trustees plans for the future are based on establishing the provision of charitable donations and nursing care in the community. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularitSes. The above report has been prepared in accordance with the provisions applicable to companies subject to the small companles reglme a5 set out in Part 15 of the Companies Act 2006 and In accordance with the Charlties SORP (FRS 102). signed on behalf of the board S. Foster Trustee 30 July 2025 Page 3
Woodham Chrlstlan Centre Ltd. Independent Examiners Report Independent Examlner's Report to the trustees of Woodham Christian Centre Ltd. I report to the charity trustees on my examlnation of the financial ststement5 of Woodham Christian Centre Ltd. for the year ended 31 October 2024. Responslblllties and basls of report As the charity's trustees of the company (and also its directors for the purposes of company lawl you are responsible for the preparation of the financial statements in accordance with the requlrements of the Companies Act 2006 ('the 2006 Act. Havlng sat15fled myself that the financial statements of the Charlty are not required to be audlted under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examlnation of your charity's financlal statements as carried out under section 145 of the Charitles Act 20111'the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515) (b) of the 2011 Act. Independent examlner's statement I have completed my examination. I can confirm that no material matters have come to my attention in connectlon with the examinatlon giving me cause to believe: accountlng records were not kept in accordance with section 386 of the 2006 Act . or • the financial statements do not accord wlth those record5; or the flnanclal statements do not comply with the accounting requirements under sectlon 396 of the 2006 Act other than any requirement that the flnanclal statements glve a 'true and falr, view which Is not a matter considered as part of an independent examination; or the flnanclal statements have not been prepared in accordance with the methods and prlnclples of the Statement of Recommended Practice for accounting and reportlng by charitle5 applicable to charities preparing their accounts In accordance with the Financlal Reporting Standard applicable In the UK and Republic of Ireland (FRS 1021. I have no concerns and have come across no other matters in connectlon with the examlnation to which attention should be drawn In this report In order to enable a proper understandlng of the financial statements to be reached. C.T. Brewster ICAEW Brewster & Co (NE) Ltd 5a Station Terrace East Boldon Tyne & Wear NE36 OU 30 July 2025 Page 4
Woodham Christlan Centre Ltd. Statement of Financial Activities for the year ended 31 October 2024 Unrestrlcted funds Total funds Total funds 2024 2024 2023 Notes Income and endowments from: Investments 78,561 78,561 18,575 Total 78,561 78,561 18,575 Expendlture on.. Charitable actlvlties Other 19,085 108,162 19,085 108,162 18,000 114,845 Total 127,247 110,420) (59,106) 127,247 132,845 {10,420) {11,556) 159,106) 1125,826) Net losses on investments Net expenditure Transfers between funds Net expenditure before other galn51(losses) {59,106) 159,106) (125,826) Other galns and losses Net movement In funds (59,106> (59,106) 1125,826) Reconclllatlon of funds: Total funds brought forward 1,119,369 1,119,369 1,245,195 Total funds carried forward 1,060,263 1,060,263 1,119,369 Page 5
Woodham Christian Centre Ltd. Summary Income and Expendlture Account for the year ended 31 October 2024 2024 2023 Net losses on investments (10,420) (11,556) Interest and investment income 78,561 18,575 Gross income for the year Expenditure 68,141 7,019 101,384 95,786 Depreciation and charges for impalrment of fixed assets Total expendlture for the year Net expenditure before tax for the year Net expendlture for the year 31,461 31,461 127,247 (59,106) 132,845 {125,826) {59,106) {125,826) Page 6
Woodham Christian Centre Ltd. Balance Sheet at 31 October 2024 Company No. 02813517 Notes 2024 2023 Flxed assets Tangible assets Investments 871,943 48,306 920,249 903,404 58,726 962,130 io Current assets Debtors Cash at bankand in hand li 10,000 130,292 140,292 {278) 140,014 1,060,263 1,060,263 157,517 157,517 12781 157,239 1,119,369 1,119,369 Credltors: Amount falling due wlthin one year Net current assets Total assets less current liabllitles Net assets excluding penslon asset or Ilablllty Total net assets 12 1,060,263 1,119,369 The funds of the charlty Restrlcted funds Unrestrlcted funds General funds 13 13 1,060,263 1,060,263 1,119,369 1,119,369 Reserves 13 Total funds 1,060,263 1,119,369 These accounts have been prepared in accordance with the special provlsions of Part 15 of the Companie5 Act 2006 relatlng to small companles. For the year ended 31 October 2024 the company was entitled to exemptlon under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance wlth sectlon 476 of the Companles Act 2006. The dlrectors acknowledge their responsibilities for complying with the requirements of the Compante5 Act 2006 with respect to accounting records and the preparation of accounts. Approved by the board on 30 July 2025 And signed on its behalf by: C. Brown Trustee 30July 2025 Page 7
Woodham Christian Centre Ltd. Statement of Cash flows for the year ended 31 October 2024 2024 2023 Cash flows from operatlng actlvltles Net expend5ture per Statement of Financlal Actlvitles (59,106) 1125,8261 Adjustments for: Depreclatlon of property, plant and equipment Dlvidends, Interest and rents from investments Ilncreasel/Decrease in trade and other receivables 31,461 (78,561} {10,000) 31,461 118,5751 23,000 Net cash used In operatlng activltles (116,206) (89,940} Cash flows from Investlng actlvltles Proceeds from sale of Investments Dlvidends, interest and rents from Investment5 10,420 78,561 11,556 18,575 Net cash from Investlng actlvltie$ 88,981 30,131 Net cash from flnancln8 actlvltles Net decrease in cash and cash equlvalents (27,225) {59,809) Cash and cash equlvalents at the beglnning of the year 157,517 217,326 Cash and cash equlvalents at the end of the year 130,292 157,517 Components of cash and cash equlvalents Cash and bank balances 130,292 157,517 130,292 157,517 Page 8
Woodham Christlan Centre Ltd. Notes to the Accounts for the year ended 31 October 2024 l Accountlng policies Basls of preparatlon The flnancial statements have been prepared In accordan with 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 I January 2015) (Charitie5 SORP IFRS 102)), the Financial Reporting Standard appllcable in the UK and Republic of Ireland {FRS 102) and the Companies Act 2006. Change in basis of accounting or to previous accounts There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years. Fund accountlng Unrestricted funds These are available for use at the dlscretlon of the trustees In furtherance of the general objects of the charity. These are unrestrlcted funds earmarked by the trustees for particular purposes. These are unrestricted funds which include a revaluatlon reserve representing the restatement of investment assets at thelr market values. These are avallable for use Subject to restrictions Imposed by the donor or through terms of an appeal. Designated funds Revaluatlon funds Restricted funds Income Recognition of Income Income Is included in the Statement of Flnancial Activitles (SOFA) when the charity becomes entitled to, and virtually certaln to recelve, the Income and the amount of the income can be measured with sufficlent reliability. Income with related Where income has relaled expendlture the income and related expendlture is expenditure reported gross in the SOFA. Donatlons and leEacies Voluntary income received by way of grants, donations and gifts is Included in the the SOFA when receivable and only when the Charity has unconditSonal entitlement to the income. Tax reclalms on Income from tax reclaims is included in the SOFA at the same tlme as the donatlons and glfts gift/donation to which it relates. Donated 5ervlces and faclllties These are only included in income (with an equivalent amount in expenditure) where the benefit to the Charity Is reasonably quantlfiable, measurable and material. Volunteer help The value of any volunteer help recelved is not included In the accounts. Investment income This Is included in the accounts when receivable. Gains/(lossesl on This includes any gain or loss resulting from revalulng investments to market value revaluation of fixed at the end of the year. assets Galns/(Iosses) on investment assets This includes any galn or10ss on the sale of investments. Page 9
Woodham Christian Centre Ltd. Notes to the Accounts Expendlture Recognition of expendlture Expenditure is recognised on an accruals basis. Expenditure Includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on These comprise the costs associated wlth attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activitles and charitable activitie5 seriices in the furtherance of its object5, Including the making of grants and governance costs. All grant expenditure Is accounted for on an actual pald basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. These Include those costs associated wlth meeting the constltutional and statutory requlrements of the Charity, Including any auditlindependent examlnation fees, costs Ilnked to the strategic management of the Charity, together with a share of other adminlstration costs. Other expenditure These are support costs not allocated to a partlcular actlvity. G rants payable Governance costs Taxatlon The charity Is exempt from corporation tax on Its charitable activltles. Freehold Investment property Investment propertles are measured initially at cost and subsequently at falr value at each balance sheet date and are not depreciated. All galns or losses are taken to the Statement of Financlal Actlvitles as they arlse. Stocks Stock Is Included at the lower of cost or net realisable value. Donated items of stock are reco8nised at fair value which Is the amount the charity would have been willing to pay for the items on the open market. Trade and other debtors Trade and other debtors are recognised at the settlement amount due after any trade dlscount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash and cash equlvalent5 Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown wlthin borrowlngs or current Ilabilitles. In the Statement of Cash Flows, cash and cash equivalents areshown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management. Trade and other creditors Short term creditors are measured at the transaction price. Other creditors and provislons 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 rellably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Page 10
Woodham Christlan Centre Ltd. Notes to the Accounts Research and development Expenditure on research and development is written off in the year in which it is incurred. Foreign currencies Monetary assets and liabillties denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactlons in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred. All exchange differences are are taken into account in arriving at net income/expenditure. Leased assets Where the charity enters Into a lease which entails taklng substantially all the rlsks and rewards of ownership of an asset, the lease is treated as a finance lease. Leases which do not transfer substantlally all the risks and rewards of ownership to charity are classlfied as operatlng leases. Assets held under flnance leases are initially recognlsed as a55ets of the charity at thelr falr value at the Inceptlon of the lease or, if lower, at the present value of the minimum lease payments. The correspondlng Ilabillty to the lessor Is included in the balance sheet date as a finance lease obligation. Lease payments are apportloned between finance expenses and reduction of the lease obligation so as to achleve a constant rate of Interest on the remaining balance of the1Sab511ty. Finance expenses are recognised immediately, unless they are directly attributable to qualifyin8 asset5, in whlch case they are capltalised In accordance wlth the charlty's polScy on borrowing COSts. Assets held under finance leases are depreciated in the same way as owned assets. Operating lease payments are recognised as an expense on a stralght-llne basss over the lease term. In the event that lease incentlves are received to enter into operatlng leases, such incentlves are recognlsed as a liabllity. The aggregate beneflt of Incentlves Is recognlsed as a reduction of rental expense on a stral8ht-Ilne basls. Penslon costs The charity operates a deflned contribution plan for its employees. A defined contrlbution plan Ss penslon plan under which the company pays fixed contributions into a separate entity. Once the contributlons have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals In the balance sheet. The assets of the plan are held separately from the company In independently adminlstered funds. Recelpt of donated goods, facilltles and servlces All donated goods, facllitie5 and servkes received are recognised within Incoming resources and expenditure at an estimate of the value to the charity. 2 Company status The company is a private company limited bv Euarantee and consequently does not have share capital. Page 11
Woodham Christlan Centre Ltd. Notes to the Accounts 3 Statement of Flnancial Activltles - prlor year Unrestricted funds Total funds 2023 2023 Income and endowments from: Investments 18,575 18,575 Total 18,575 18,575 Expendlture on: Cha ritable activlties 18,000 114,845 18,000 114,84S Other Total 132,845 132,845 (11,556) 111,5561 1125,826) 1125,826) Net gains on Investment5 Net Income Net Income before other galns/(losses) other galns and losses: Net movement In funds 1125,826) 1125,826) {125,826) (125,826) Reconclllatlon of funds: Total funds brou8ht forward Total funds carrled forward 1,245,195 1,119,369 1,245,195 1,119,369 4 Income from Investments Unrestrlcted Total 2024 Total 2023 78,561 78,561 78,561 78,561 18,575 18,575 S Expendlture on charltable activltles Unrestricted Total 2024 Total 2023 Expenditure on choritable actlvlties 19,085 19,085 18,000 Governance costs 19,085 19,085 18,000 Page 12
Woodham Christian Centre Ltd. Notes to the Accounts 6 Other expenditure Unrestricted Total Total 2024 2023 Premlses costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General admlnistrative costs 56.020 56,020 69,148 31.461 31,461 31,461 20,681 108,162 20,681 108,162 14,236 114,845 7 Net expendlture before transfers 2024 2023 Thls is stated after charging: Depreciatlon of owned flxed assets 8 Staff costs No employee received emoluments in excess of £60,000. 9 Tanglble f Ixed assets 31,461 31,461 Cost or revaluation At l November 2023 At 31 October 2024 Depreclation and Impairment At l November 2023 Depreclation charge for the year At 31 October 2024 Net book values At 31 October 2024 At 31 October 2023 1,573,080 1,573,080 1,573,080 1,573,080 669,676 669,676 31,461 31,461 701,137 701,137 871,943 903,404 871,943 903,404 10 Investments Investment Subsldlaries Total Cost or revaluatlon At l November 2023 Disposa Is At 31 October 2024 Net book values At 31 October 2024 At 31 October 2023 58,726 (10,4201 48,306 58,726 {10,420) 48,306 48,306 58,726 48,306 58,726 Page 13
Woodham Christian Centre Ltd. Notes to the Accounts 11 Debtors 2024 2023 other debtors 10,000 10,000 12 Credltors: amounts falllng due within one year 2024 2023 Other creditors 278 278 278 278 13 Movement In funds Incoffllng resources At31 (includlng Atl other November galnsllosses 2023 Resources expended October 2024 Restricted funds: Unrestrlcted funds: General funds 1,119,369 68,141 1127,2471 1,060,263 Total funds 14 Analysls of net assets between funds 1,119,369 68,141 {127,247) 1,060,263 Unrestrlcted funds Total Fixed assets Investments 871,943 48,306 140,014 1,060,263 871,943 48,306 140,014 1,060,263 Net current assets 15 Reconclllatlon of net debt Atl November 2023 At31 October 2024 Cash flows Cash and cash equivalents 157,517 157,517 (27,225) {27,2251 130,292 130,292 Net debt 157,517 {27,225) 130,292 16 Related party disclosures Controlllng party The company is limited by guarantee and has no share capital; thus no single party controls the company. Page 14
Woodham Christian Centre Ltd. Notes to the Accounts Page 15
Woodham Chrlstlan Centre Ltd. Detalled Statement of Financial Actlvltles for the year ended 31 October 2024 Unrestrlcted funds 2024 Total funds 2024 Total funds 2023 Income and endowments from: Investments 78,561 78,561 78,561 78,561 78,561 18,575 18,575 Total Income and endowments 78,561 18,575 Expendlture on: Charitable activltles 19,085 19,085 19,085 19,085 18,000 18,000 Total of expendlture on charltable actlvities 19,085 19,085 18,000 Prem15es costs Other prem15es costs 56,020 56,020 56,020 56,020 69,148 69,148 General admlnlstrative costs, Including depreciation a nd amortisation Depreciation of land and bulldlngs Sundry expenses 31,461 31,461 31,461 20,681 52,142 108,162 20,681 52,142 108,162 127,247 110,420) 14,236 45,697 114,845 Total of expendlture of other costs Total expendlture Net gains on Investments 127,247 132,845 110,420) (11,556) Net expendlture (59,106) (59,1061 (125,8261 Net expendlture before other galns/(losses) Other Gain5 159,106) (59,106) 1125,826) Net movement In funds (59,106) {59,106} (125,826) Reconcillatlon of funds: Total fund5 brought forward 1,119,369 1,119,369 1,245,195 Total funds Carrled forward 1,060,263 1,060,263 1,119,369 Page 16