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← Ruach City Church

2025-03-31-accounts

Charity registration number 1046218 (England and Wales)

RUACH CITY CHURCH

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

RUACH CITY CHURCH

LEGAL AND ADMINISTRATIVE INFORMATION

Ruach City Church was created by constitution dated 14th April 1994 and amended on 24th March 1995.

Trustees are elected by the membership at the AGM. During the year, new trustees can be co-opted by the existing trustees and subsequently voted on at the AGM. Trustees throughout the year were:

Trustees

Paul Brightly-Jones Dorothea Hodge Sarah Herbert Jenny Francis (appointed 23 February 2025) Paul Kouassi (appointed 23 February 2025) Craig Lyn-Cook (appointed 23 February 2025)

In addition to the trustees listed above, the following are additional custodian trustees that are named as holding one or more of the properties for the charity in trust:

Custodian trustees Paul Campayne John Francis Patrick Smith Patricia Roberts

Key Management Personnel

Bishop John Francis Co-Pastor Penny Francis Resident Elder Enid Stewart Head of Property and Facilities Dannie Adebomojo (from 10 June 2024) Head of Finance Meleka Linton (from 9 September 2024) Head of Finance Andrew Rodford (until 31 January 2025) Head of HR and Administration Jacqui Heslop Charity number 1046218 Registered office 110 Streatham Hill London SW2 4RD Auditor Xeinadin Audit Limited 5 Robin Hood Lane Sutton Surrey SM1 2SW Bankers Lloyds Bank Plc 25 Gresham Street London EC2V 7HN

RUACH CITY CHURCH

CONTENTS

Page
Trustees report 1 - 4
Statement of Trustees responsibilities 5
Independent auditor's report 6 - 8
Statement of financial activities 9
Balance sheet 10
Statement of cash flows 11
Notes to the financial statements 12 - 24

RUACH CITY CHURCH

TRUSTEES REPORT

FOR THE YEAR ENDED 31 MARCH 2025

The Trustees have pleasure in submitting their report together with the financial statements for the Trust for the year ended 31 March 2025.

The Legal and Administrative Information set out on page 1 forms part of this report. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's constitution, 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 the UK and Republic of Ireland (FRS 102)".

Charitable Objectives

The principal objectives of Ruach City Church are to:

Public Benefit

The trustees confirm that they have complied with their duty under section 4 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit requirement under the Act.

In order to fulfil the objects, regular meetings are held where Ruach City Church partners and other interested people can worship, pray, receive teaching on, and participate in discussions of the faith. Benevolent grants are also made in accordance with the objects of the charity.

Background

Ruach City Church (formerly known as Ruach Ministries) began in 1992 and is one of the largest nondenominational Christian churches in Europe. The music and creative arts provide a vibrant and inspiring worship experience with empowering preaching and teaching by the senior minister, elders and visiting preachers. Ruach City Church continues to build a reputation for being community-focused and politically engaged with a global reach which has been enhanced over the years by the skilful use of social media to connect with partners across the world.

Legal Structure and Governance

Ruach City Church is a charity registered in England and Wales. Its governing document is a Constitution dated 1994, amended in 2012.

The governance of the Church resides with the Trustees and the Bishop, supported by the Eldership Team and Senior Operational staff formerly known as lead staff. There have been key changes to the lead staff team with the appointment of the Head of property in June 2024, Head of Finance in September 2024 and IT support in February 2025.

The leadership team, which includes the Bishop & Co-Pastor, is responsible for day-to-day operations, ministry planning, and pastoral care, under the oversight of the trustees.

The responsibilities of Trustees of Ruach City Church are:

RUACH CITY CHURCH

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

9 If the charity employs staff, to appoint a chief executive officer and monitor his/her performance.

The Trustees must approve all decisions relating to resourcing, including setting the pay and remuneration of the charity’s key management personnel. The trustees determine the remuneration of key management personnel by benchmarking roles against sector standards and considering the scope of responsibilities, experience, and performance, ensuring alignment with the organisation’s charitable objectives and financial capacity.

The appointment of Trustees entails a process of nomination by a Partner of Ruach City Church, review and assessment by the Board of Trustees, and election at the Annual General Meeting. The induction process for new trustees is overseen by the Board of Trustees, and involves a review of Ruach City Church policies and previous Board minutes, an assessment of skill set and experiences, and introductory meetings with the key members of the Eldership Team and staff.

Achievements and Performance

In the financial year ended 31 March 2025 Ruach City Church continued as one church in the following locations: Brixton/Streatham, Kilburn, Walthamstow and Birmingham Hunters Road.

The activities of the Church are organised into life-stage ministries including relationships, men, women, youth, and children, and these are open to all. Those who choose to become partners or members of Ruach City Church are encouraged to be involved in one or more of the eight ministry sections: Academy of Learning, Creative Arts, Hospitality, Outreach, Social Care, and Spiritual Mediation, Business, and Media. Within these sections are more than thirty teams each responsible for a different area of Ruach City Church’s activities. These sections and supporting departments are run by a combination of staff and volunteers.

Ruach’s commercial activities are conducted and accounted for through its wholly owned subsidiary, Order My Steps. Accounts for Order My Steps are prepared separately – it is not consolidated into Ruach’s accounts and the accounts for the current financial period are not audited on the grounds of immateriality.

Despite ongoing social and economic challenges in 2024, Ruach City Church remained active in ministry and outreach.

Key highlights from the year include:

• Weekly Services:

Held Sunday services (including children’s ministry) and midweek prayer gatherings.

• Discipleship:

Ministry eGroups, Bible studies, and leadership training sessions/conferences.

• Community Outreach:

Community Food Bank Koinonia and night of evangelism with food distribution to the homeless.

• Online Ministry:

Continued live streaming services and grew online engagement across social media platforms.

• Youth and Families:

Sunday school and youth conference.

• Relocation to Streatham:

It was during June 2024, that Ruach vacated Brixton and Services commenced at the Streatham Hill theatre building, with no break in Church Services. Ruach’s Administration is temporarily taking place at Kilburn and is due to commence operation out of Streatham once Staff Offices have been refurbished.

• Converting to a Charitable Incorporated Organisation (CIO):

During the financial year great progress was made to completing the CIO such as the appointment of the trustees, and the preparation of the legal documents and governance for target completion the second half of 2025.

• Joint Venture agreement:

The planning application continues to progress for Turle Rd, the masterplan design has been intensified increasing the number of houses included in the scheme from the original business plan.

We thank our committed volunteers, ministry teams and lead staff who have made this possible.

RUACH CITY CHURCH

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Financial review of the year

Ruach once again achieved strong offerings, totalling approximately £2.5m and at £48,000 per week they were still well ahead of the long-term average, being 3 per cent above the previous year. Income was also boosted by revenue received from Places of Worship grant for the Streatham & Kilburn location and Rental income from Mast Telecomm’s.

Overall expenditure for the current period remains broadly in line with the comparable costs reported in the prior year. Operational costs predominately relate to staff costs and property related costs including utilities, maintenance, and other operational costs linked to the commissioning and use of the new church building in Streatham. Finance costs have increased following the advance received of £0.4m in June 2024.

Overall there was an Income and Expenditure Account surplus of £15k, compared to an underlying deficit of £195k last year.

This represents another resilient underlying financial performance in the circumstances.

At the year end, Ruach had total funds of nearly £12m, of which £9,705 were restricted and £11,787,717 were unrestricted.

Full details of Ruach’s financial position are set out on pages 9 to 24.

The AWARE values (Aiming for excellence, Working together, Acting with integrity, Respecting each other, Empowering our team) continue to provide the framework for recruitment and retention of staff and volunteers, and the strapline is used as an operational reporting framework on Ruach’s property, people, processes and profitability.

Like many churches, Ruach City Church thrives on the energy and willingness of its volunteers who continued to engage with enthusiasm and commitment to the vision and work of this Church. Thanks are therefore due to all those Partners who through their volunteering make Ruach City Church work, from those with a very visual profile to all those operating efficiently behind the scenes, as their time, talents, and resources have made a significant impact on our ministries, community outreach, and daily operations.

Ruach City church is committed to continuing to deliver a range of accessible and community-facing activities and services that promote the well-being of all in the areas that we are based and beyond. Through outreach, learning and development, age and gender-based activities, and spiritual and social care, we want to effectively demonstrate that the church is both relevant and vital for wider society. Ruach City Church remains committed to recruiting new trustees who will bring broader representation and skills to the Board.

Future plans

Looking ahead, the trustees remain committed to ensuring the long-term sustainability and growth of the church. Building on the progress of the past year, the following key areas will be the focus of our strategic priorities in the coming year and beyond.

• We aim to diversify sources of income to reduce reliance on traditional giving by developing sustainable revenuegenerating initiatives. This includes income generation from church-owned property assets, such as facility rentals, community partnerships that align with our values and serve the wider community.

• To support long-term sustainability, we will undertake necessary capital expenditure to maintain and enhance our church buildings, ensuring that all church facilities remain safe, welcoming, and fit for purpose.

• Recognising the continued importance of digital engagement, particularly for those unable to attend services in person, we will expand our digital platform and online reach to connect with wider audiences, provide accessible worship and discipleship resources, and strengthen our digital presence for evangelism, community outreach, and engagement.

• Recognising the vital role of the next generation, we are prioritising youth engagement in leadership and decisionmaking. By involving young people in shaping the future of the church and nurturing emerging leaders.

• To utilise volunteers with professional skill sets, maximising the collective gifts of our congregation for the good of the church and the broader community.

RUACH CITY CHURCH

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

The trustees are confident that these plans will help the church continue to serve its members and the wider community effectively, while ensuring wise stewardship of its resources and alignment with its Christian mission.

The trustees are also glad to report that post the financial year end Ruach City Church successfully converted to a CIO in August 2025 and in September 2025 planning was approved for the Norbury site (Turle Rd) which presents an exciting opportunity to move on to the next phase of the development.

Reserves policy

The Trustees are working towards maintaining sufficient reserves to cover 3 months unrestricted expenditure and management and support costs. The outline measures being taken to achieve this objective are set out above.

Grant making policy

A benevolence policy has been developed to provide additional targeted support to Ruach City Church partners. This is based on good practice and experience, clearer criteria and processes which combine pastoral care with good governance. It will eventually include the collection of ring-fenced funds for benevolent purposes.

Going concern

The charity converted to a CIO on 13 August 2025, as detailed in note 1.3. Subject to that technical point, the trustees have reviewed the charity’s financial position and confirm that it remains a going concern for the foreseeable future.

Risk management

The major activities and issues of the ministry are subject to review at Trustees' meetings. Where there are issues which have a material risk identified, all reasonable steps are taken to mitigate that risk.

This has been identified as a key area of focus across Ruach, to be driven by the Property and Finance SubCommittees.

As with all charities, a key risk for Ruach is generation and maintenance of sufficient cash reserves in order to be able to meet its liabilities. To mitigate this risk: the Finance department monitors and projects Cash Flow on a daily basis; Bishop and Lead Staff review Operating and Capital Expenditure decisions, as well as income growth opportunities on a weekly basis; and each year at least one of the monthly Trustees’ meetings are dedicated to Strategy and Planning.

Safeguarding and protection of Ruach’s Freehold property assets is another key area of focus, and is overseen by an experienced Head of Property and Facilities. During the past few years, Capital Expenditure has been targeted towards essential remedial works and security enhancements in line with requirements identified and agreed with our insurers. The in-house team has also been strengthened. The need for further Capital Expenditure required to ensure Health and Safety compliance and good practice of Ruach’s properties is under review.

The Trustees report was approved by the Board of Trustees.

.............................. Paul Brightly-Jones Trustee Dated: ......................... 10/12/2025

RUACH CITY CHURCH

STATEMENT OF TRUSTEES RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2025

The Trustees are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements 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 charity for that year.

In preparing these financial statements, the Trustees are required to:

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 financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

RUACH CITY CHURCH

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF RUACH CITY CHURCH

Opinion

We have audited the financial statements of Ruach City Church (the ‘charity’) for the year ended 31 March 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Financial statements prepared on a basis other than going concern

We draw attention to note 1 which explains that, as a consequence of the transfer of the assets and liabilities of the charity to a charitable company on 13 August 2025, the charity is no longer considered to be a going concern. The note explains that the financial statements have therefore been prepared on a basis other than that of a going concern, albeit with the expectation of continuing its activities as a charitable company. The note also explains the expected impact of the use of the alternative basis on the financial statements. Our opinion is not modified in this respect.

Our responsibilities and the responsibilities of the trustee with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

RUACH CITY CHURCH

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF RUACH CITY CHURCH

Responsibilities of Trustees

As explained more fully in the statement of Trustees responsibilities, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Based on our understanding of the charity, we identified that the principal risks of non-compliance with laws and regulations related to employment and financial reporting legislation and we considered the extent to which noncompliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management, considering the internal controls in place and discussion amongst the engagement team. We determined that the principal risks were related to posting inappropriate journal entries to increase revenue or reduce expenditure and management override of controls.

In response to the risks identified we designed procedures which included, but were not limited to:

There are inherent limitations in the audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

RUACH CITY CHURCH

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF RUACH CITY CHURCH

Other matters

Your attention is drawn to the fact that the charity has prepared financial statements in accordance 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)" (as amended) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

This has been done in order for the financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Paul Newton FCA (Senior Statutory Auditor) 16/12/2025 for and on behalf of Xeinadin Audit Limited ......................... Chartered Accountants Statutory Auditor 5 Robin Hood Lane Sutton Surrey SM1 2SW

Xeinadin Audit Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

RUACH CITY CHURCH

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted
funds
2025
Notes
£
Income and endowments from:
Donations and legacies
2,389,518
Charitable activities
3
261,819
Investments
4
160
Other income
5
4,060
Total income
2,655,557
Expenditure on:
Charitable activities
6
2,712,669
Total expenditure
2,712,669
Net income/(expenditure)
(57,112)
Transfers between
funds
139,470
Net movement in
funds
7
82,358
Reconciliation of funds:
Fund balances at 1 April 2024
11,705,359
Fund balances at 31 March
2025
11,787,717		 Restricted
funds
2025
£
97,897
-
-
-
97,897
24,969
24,969
72,928
(139,470)
(66,542)
76,247
9,705		 Total
Unrestricted
funds
2025
2024
£
£
2,487,415
2,406,198
261,819
159,093
160
306
4,060
-
2,753,454
2,565,597
2,737,638
2,750,577
2,737,638
2,750,577
15,816
(184,980)
-
(17,736)
15,816
(202,716)
11,781,606
11,908,075
11,797,422
11,705,359		 Restricted
funds
2024
£
7,394
-
-
-
7,394
18,407
18,407
(11,013)
17,736
6,723
69,524
76,247		 Total
2024
£
2,413,592
159,093
306
-
2,572,991
2,768,984
2,768,984
(195,993)
-
(195,993)
11,977,599
11,781,606

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

RUACH CITY CHURCH

BALANCE SHEET

AS AT 31 MARCH 2025

2025 2024
Notes £ £ £ £
Fixed assets
Tangible assets 10 14,464,386 14,125,827
Investments 11 5,319 5,267
14,469,705 14,131,094
Current assets
Debtors 12 282,557 265,941
Cash at bank and in hand 283,407 118,771
565,964 384,712
Creditors: amounts falling due within
one year 13 (259,774) (134,200)
Net current assets 306,190 250,512
Total assets less current liabilities 14,775,895 14,381,606
Creditors: amounts falling due after
more than one year 14 (2,978,473) (2,600,000)
Net assets 11,797,422 11,781,606
Income funds
Restricted funds 19 9,705 76,247
Unrestricted funds 11,787,717 11,705,359
11,797,422 11,781,606

10/12/2025 The financial statements were approved by the Trustees on .........................

.............................. Paul Brightly-Jones Trustee

RUACH CITY CHURCH

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

2025 2024
Notes £ £ £ £
Cash flows from operating activities
Cash generated from operations 24 450,292 165,562
Investing activities
Purchase of tangible fixed assets (425,610) (204,247)
Proceeds from disposal of tangible fixed
assets 7,850 -
Purchase of investments (52) (51)
Investment income received 160 306
Net cash used in investing activities (417,652) (203,992)
Financing activities
Proceeds from new bank loans 400,000 -
Loan interest paid (235,514) (200,012)
Repayment of bank loans - 12,390
Payment of obligations under finance leases (32,490) -
Net cash generated from/(used in)
financing activities 131,996 (187,622)
Net increase/(decrease) in cash and cash
equivalents 164,636 (226,052)
Cash and cash equivalents at beginning of year 118,771 344,823
Cash and cash equivalents at end of year 283,407 118,771

RUACH CITY CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

Legal form

Ruach City Church is a an unincorporated trust and registered charity. Its principal office is at 110 Streatham Hill, London, SW2 4RD.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investments and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The financial statements contain information about Ruach City Church as an individual charity and do not contain consolidated financial information as the parent of a group on the grounds of immateriality.

1.2 Going concern

The trustees approved the transfer of the assets and liabilities of the charity to Ruach City Church, a Charitable Incorporated Organisation, from 13 August 2025. As a consequence, the continuing activities of the unincorporated charity have ceased from the date of transfer although the activities of the charity have continued under the new incorporated charity. The unincorporated charity is therefore no longer considered to be a going concern. The financial statements have therefore been prepared on a basis other than that of a going concern.

After reviewing the forecasts and projections of the new charity, the trustees have a reasonable expectation that the new charity has adequate resources to continue in operational existence for the foreseeable future. The incorporation event has therefore not resulted in any significant change to the presentation, classification or valuation of the related assets and liabilities.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

RUACH CITY CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Expenditure

Income and expenses are included in the financial statements as they become receivable or due.

Expenses include VAT where applicable as the charity is not VAT registered.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings see below Plant and equipment 30% on net book value Fixtures and fittings 15% on net book value Motor vehicles 30% on net book value

No depreciation is charged on freehold land. The residual value of freehold buildings is considered to be such that depreciation is immaterial.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in expenditure for the year, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

RUACH CITY CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

RUACH CITY CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

1.12 Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to net income/(expenditure) for the year so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other 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 underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

Useful economic lives of fixed assets

Tangible fixed assets are depreciated over their estimated useful economic lives to the estimated residual value at the end of that life. Calculation of these depreciation charges requires judgement to be made, which includes a review of the property market as well as the historic and planned usage of the various assets.

3 Charitable activities

Donation from trading subsidiary
Rental income
Other income		 2025
£
56,403
194,976
10,440
261,819		 2024
£
32,724
116,060
10,309
159,093

4 Investment income

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Interest receivable 160 306

RUACH CITY CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

5 Other income

Unrestricted Total
funds
2025 2024
£ £
Net gain on disposal of tangible fixed assets 4,060 -

6 Charitable activities

Church
work
Support
costs
Governance
£
£
£
Staff costs
709,714
464,866
-
Ministries
175,216
-
-
Property costs
-
626,763
-
Finance charges
-
253,416
-
Overheads
-
245,446
-
Depreciation
-
245,711
-
Auditor's fees
-
-
16,506
884,930
1,836,202
16,506
7
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable to the charity's auditor:
- for the audit of the charity's financial statements
- for other financial services
Depreciation of owned tangible fixed assets
Profit on disposal of tangible fixed assets		 Total
2025
£
1,174,580
175,216
626,763
253,416
245,446
245,711
16,506
2,737,638
2025
£
13,200
2,400
245,711
(4,060)		 Total
2024
£
1,156,614
183,519
717,263
215,386
293,694
188,228
14,280
2,768,984
2024
£
12,000
2,280
188,228
-

8 Trustees

None of the Trustees (or any persons connected with them) received any remuneration, benefits or reimbursed expenses from the charity during the year.

RUACH CITY CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

9 Employees

Number of employees

The average monthly number employees, excluding agency staff, during the year was:

Full time
Part time
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2025
Number
23
4
27
2025
£
894,360
86,945
21,996
1,003,301		 2024
Number
23
2
25
2024
£
874,673
82,883
24,590
982,146

Redundancy and termination payments totalling £nil (2024: £9,645 ) were made in the reporting period.

In addition, agency staff costs of £54,180 (2024: £61,831) were incurred during the year.

The number of employees whose annual remuneration was £60,000 or more were:

were:
2025 2024
Number Number
£110,001 - £120,000 1 1
£70,001 - £80,000 1 -
£60,001 - £70,000 1 -

RUACH CITY CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

10 Tangible fixed assets

Freehold land
and buildings
£
Cost
At 1 April 2024
13,167,106
Additions
17,967
Disposals
-
At 31 March 2025
13,185,073
Depreciation and impairment
At 1 April 2024
-
Depreciation charged in the year
-
Eliminated in respect of disposals
-
At 31 March 2025
-
Carrying amount
At 31 March 2025
13,185,073
At 31 March 2024
13,167,106		 Plant and
equipment
£
1,473,666
26,329
-
1,499,995
1,320,869
42,834
-
1,363,703
136,292
152,797		 Fixtures and
fittings
Motor vehicles
£
£
1,615,398
28,204
543,764
-
-
(9,100)
2,159,162
19,104
821,923
15,755
200,279
2,598
-
(5,310)
1,022,202
13,043
1,136,960
6,061
793,475
12,449		 Total
£
16,284,374
588,060
(9,100)
16,863,334
2,158,547
245,711
(5,310)
2,398,948
14,464,386
14,125,827

The transitional rules of FRS 102 were applied such that the previous revaluations of property used have been held to be the deemed cost going forward. These valuations were as follows:

Kilburn Colliers International August, 2011 £7,500,000
Birmingham Chivers Commercial November, 2012 £240,000

The freehold property is part financed by a mortgage with Charity Bank. The mortgage is repayable over 25 years and is interest-only for the first 24 months. Interest is payable at base rate plus 3.25%.

A legal charge is held over Kilburn and Walthamstow against this loan.

11 Fixed asset investments

Unlisted
investments
£
Cost or valuation
At 1 April 2024
5,266
Additions
52
At 31 March 2025
5,318
Carrying amount
At 31 March 2025
5,318
At 31 March 2024
5,266		 Subsidiary
£
1
-
1
1
1		 Total
£
5,267
52
5,319
5,319
5,267

RUACH CITY CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

12
Debtors
Amounts falling due within one year:
Trade debtors
Amounts owed by subsidiary undertakings
Other debtors
Prepayments and accrued income
13
Creditors: amounts falling due within one year
Notes
Bank loans
15
Obligations under finance leases
16
Trade creditors
Amounts owed to subsidiary undertakings
Other creditors
Accruals and deferred income
14
Creditors: amounts falling due after more than one year
Notes
Bank loans
15
Obligations under finance leases
16
15
Loans and overdrafts
Bank loans
Payable within one year
Payable after one year
Details of the loans and security given are shown in note 10.		 2025
£
88,600
6,513
148,343
39,101
282,557
2025
£
24,235
32,490
88,374
-
34,727
79,948
259,774
2025
£
2,975,765
2,708
2,978,473
2025
£
3,000,000
24,235
2,975,765		 2024
£
8,917
-
222,058
34,966
265,941
2024
£
-
-
48,731
3,866
20,517
61,086
134,200
2024
£
2,600,000
-
2,600,000
2024
£
2,600,000
-
2,600,000

RUACH CITY CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

16 Finance lease obligations

Future minimum lease payments due under finance leases:

Within one year
Within two and five years		 2025
£
32,490
2,708
35,198		 2024
£
-
-
-

Finance lease payments represent rentals payable for some fixture and fittings assets. There are no restrictions on the use of the assets. The lease is on a fixed repayment basis and is interest-free.

17 Retirement benefit schemes
2025 2024
Defined contribution schemes £ £
Charge to profit or loss in respect of defined contribution schemes 21,996 24,590

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

18 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

General funds
Previous year:
General funds		 At 1 April
2024
£
11,705,359
At 1 April
2023
£
11,908,075		 Income
Expenditure
£
£
2,655,557
(2,712,669)
Income
Expenditure
£
£
2,565,597
(2,750,577)		 Transfers
At 31 March
2025
£
£
139,470
11,787,717
Transfers
At 31 March
2024
£
£
(17,736)
11,705,359

RUACH CITY CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

19 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Balance at
1 April 2023
£
Building fund
23,269
Outreach
-
Dedicated offerings
10,343
Brick
3,683
Koinonia
10,000
Benevolent
20,000
Broadcasting
1,008
Wellbeing
1,221
69,524		 Movement in funds
Income
Expenditure
£
£
5,136
-
671
(18,407)
-
-
1,122
-
-
-
-
-
135
-
330
-
7,394
(18,407)		 Transfers
Balance at
1 April 2024
£
£
-
28,405
17,736
-
-
10,343
-
4,805
-
10,000
-
20,000
-
1,143
-
1,551
17,736
76,247		 Movement in funds
Income
Expenditure
Transfers
Balance at
31 March 2025
£
£
£
£
80,756
-
(109,161)
-
603
(603)
-
-
-
(10,343)
-
-
16,538
-
(21,343)
-
-
(8,484)
-
1,516
-
(4,118)
(8,426)
7,456
-
(1,143)
-
-
-
(278)
(540)
733
97,897
(24,969)
(139,470)
9,705		 Movement in funds
Income
Expenditure
Transfers
Balance at
31 March 2025
£
£
£
£
80,756
-
(109,161)
-
603
(603)
-
-
-
(10,343)
-
-
16,538
-
(21,343)
-
-
(8,484)
-
1,516
-
(4,118)
(8,426)
7,456
-
(1,143)
-
-
-
(278)
(540)
733
97,897
(24,969)
(139,470)
9,705
9,705

Building fund: Funds received to help purchase new church buildings. A transfer was made in the year for fixed asset additions. Outreach: This fund is for helping the community.

Dedicated offerings: This fund is money received for various specific purposes.

Brick: See Building Fund.

Koinonia: Funds received to support Homeless and Koinonia related activities.

Benevolent: Funds received to support Benevolent and Pastoral activities. A transfer was made in the year to reflect prior year's expenditure. Broadcasting: Funds received to support general broadcasting costs across all media.

Wellbeing: Ministry established to provide support to the Ruach family and local community. A transfer was made in the year to reflect prior year's expenditure.

RUACH CITY CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

20
Analysis of net assets between funds
Unrestricted
Restricted
Total
Unrestricted
2025
2025
2025
2024
£
£
£
£
Fund balances at 31
March 2025 are
represented by:
Tangible assets
14,464,386
-
14,464,386
14,125,827
Investments
5,319
-
5,319
5,267
Current assets/(liabilities)
296,485
9,705
306,190
174,265
Long term liabilities
2,978,473
-
2,978,473
2,600,000
11,787,717
9,705
11,797,422
11,705,359
21
Capital commitments
Amounts contracted for but not provided in the financial statements:
Acquisition of property, plant and equipment		 Restricted
2024
£
-
-
76,247
-
76,247
2025
£
2025
£
156,480		 Total
2024
£
14,125,827
5,267
250,512
2,600,000
11,781,606
2024
£
2024
£
-

22 Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years
Lease payments recognised as an expense		 2025
£
7,392
1,540
8,932
2025
£
14,187		 2024
£
46,677
47,273
93,950
2024
£
45,137

RUACH CITY CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

23 Related party transactions

Remuneration of key management personnel

The remuneration of key management personnel, as listed on the Legal and Administrative Information page, is as follows:

2025 2024
£ £
Aggregate compensation 464,040 381,710

A loan of £20,000 was given to a member of the key management personnel in 2024. £5,000 was repaid during the year. £15,000 was outstanding at the year end.

A loan of £10,000 was given by P Brightly-Jones, one of the trustees, to the charity. This was repaid before the year end.

Transactions with related parties

The charity owns 100% of the share capital of Order My Steps Limited, a company registered in the UK. During the year it gifted £56,403 (2024: £32,725) to the charity. At 31 March 2025 the balance due from the company was £6,513 (2024: due to the company £3,866).

24
Cash generated from operations
Surplus/(deficit) for the year
Adjustments for:
Investment income recognised in statement of financial activities
Loan interest paid
Non cash adjustment to lease expenditure
Gain on disposal of tangible fixed assets
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase) in debtors
Increase in creditors
Cash generated from operations		 2025
2024
£
£
15,816
(195,993)
(160)
(306)
235,514
200,012
(94,762)
-
(4,060)
-
245,711
188,228
(16,616)
(40,901)
68,849
14,522
450,292
165,562		 2025
2024
£
£
15,816
(195,993)
(160)
(306)
235,514
200,012
(94,762)
-
(4,060)
-
245,711
188,228
(16,616)
(40,901)
68,849
14,522
450,292
165,562
165,562

RUACH CITY CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

25 Analysis of changes in net (debt)/funds

At 1 April 2024
£
Cash at bank and in hand
118,771
Loans falling due within one year
-
Loans falling due after more than one year
(2,600,000)
Obligations under finance leases
-
(2,481,229)		 Cash flows
New finance
leases
At 31 March 2025
£
£
£
164,636
-
283,407
(24,235)
-
(24,235)
(375,765)
-
(2,975,765)
32,490
(67,688)
(35,198)
(202,874)
(67,688)
(2,751,791)