Adore Church
Financial Statements
for the year ended 31 August 2024
Company Number
3059994
Adore Church
Financial Statements
Year Ended 31 August 2024
| Pages | |
|---|---|
| Contents | |
| Information | 1 |
| Directors/Trustees Annual Report | 2-6 |
| Independent Examiners Report | 7 |
| Statement of financial activities | 8 |
| Balance Sheet | 9 |
| Notes to the financial statements | 10-17 |
Adore Church
Charitable Company Information
Directors
D T McNeil G Barker A Wolf N Spencer S Cox
Company Secretary
D T McNeil
Charity Number 1047411
Company Number 3059994
Registered Office
76 Church Road Aston Birmingham B6 5TY
Independent Examiner
Gary Peter Brookes FCA BSc 130 Wombourne Park Wolverhampton South Staffs WV5 0LY
Bankers
HSBC Sutton Coldfield
1
Adore Church Directors Report For the Year Ended 31 August 2024
Structure, Governance and Management
Adore Church’s primary Governance document is its Memorandum and Articles of Association incorporated on 23rd May 1995 as amended by special resolution (s) dated 12th October 2015 as amended by certificate of incorporation on change of name dated 9th December 2015, 30 April 2021 and further updated change of name 6 July 2023. The Charity is constituted as a Charitable Company Limited by Guarantee.
Trustee recruitment, appointment and training
Trustees are approved and appointed by the Senior Leadership Team, who are the members of the Charity. Every effort is made to ensure that any new Trustee appointment will contribute significantly to the skills base of the team. Areas of experience and competence are actively examined as well as the need for a trustee to be local and familiar with the day-to-day activities of the Charity.
Having identified a potential candidate, one or other of the existing Trustees will be nominated to meet with and to appraise the potential Trustee as to the role and responsibilities of serving the charity in the capacity of a Trustee. Due to the size and nature of the Charity, we have adopted an informal training and induction process for new Trustees. This is achieved through interaction with the existing Trustees and through the provision of current documentation on the role and responsibilities of Trustees provided by the Charity Commission.
Organisational Structure
The Charity is organised so that the Trustees, who are also the Management Committee, meet regularly to manage its affairs. There is one full-time Senior Leader and a part-time Senior Leader who work together to manage the day-to-day administration of the Charity. They are assisted by a Staff Team which includes a full-time Children’s & Families Pastor, a part-time Operations Facilitator, a part-time Media & Production manager, a part-time Worship Pastor and a Young Adults and Connect Pastor worker employed via a T2 visa. The Senior Pastors oversee the Staff Team plus a number of additional voluntary team members.
Relationship with connected organisations
Adore Church is a Christian Church. The Senior Leaders meet regularly with other local church leaders at gatherings for connection & encouragement including ‘Time4Brum’ with monthly leaders’ prayer meetings and an annual joint Church Prayer event plus growing engagement with Aston Churches Together. Relational ministry connections developed with networks such as ‘Burn 24-7 UK’, David’s Tent and The Upper Room Network (TURN) based in Dallas, USA.
The Church is focused on providing financial support to several partner organisations that represent a range of charities providing support and ministry in local, national, and international contexts.
Locally the Church supported youthwork project ‘The Gap’ which provides detached youthwork services in North Birmingham as well as mentoring services to secondary schools and support with mental health. Activity this year included support for a fundraiser in May. Partnership continued to be built with TAWS (the Active Well Being Society) to assist building local community connections with a Team funded by Birmingham City Council. A successful community event was held in September 2023 with food, games, crafts & activities for local families.
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Adore Church
Directors Report For the Year Ended 31 August 2024
Nationally the Church supported ‘Bethel Sozo UK’ leaders David & Christine West as well as the advocacy group ‘Christian Concern’. Bethel Sozo UK is a relational network of Churches committed to bringing inner healing and wholeness to individuals through prayer ministry. Christian Concern works to make Jesus and His ways known, to protect the freedom to live and speak for Him and to empower Christians to be compassionate and courageous ambassadors. During the year we hosted Andrea Williams and her team for a successful ‘sold-out’ day conference called ‘Courageous and Confident’ to inform and engage around a variety of subjects with speakers Andrea Williams, Tim Dieppe and Ben John. During the year a new partnership was developed with Transforming Lives for Good (TLG) with plans to launch a ‘Make Lunch’ club to serve the local community.
Internationally the Church supported the Kenyan educational project ‘Spurgeons Academy’. Based in the slum suburb of Kibera, Nairobi the child sponsorship program at Spurgeons Academy provides educational assistance as well as family support to addresses health & social needs. Support is provided for project Director Kenyanito Dudi to assist his leadership which is administrated through partner organisation ‘Global Care’. In March we welcomed Anita White, Fundraising and Communications Manager at Global Care, to share with the congregation about their ministry and invite members to support the childcare program. The Senior Leaders of the Church supported the 40th Anniversary celebration of Global Care in November with speaker Fiona Castle.
Support for the non-denominational Charity, ‘Open Doors’ assists persecuted Christians throughout the world through advocacy for the persecuted church. Although Open Doors is primarily a Christian charity it assists people of all faiths and none who experience the hardship suffered through the oppression of persecution. In November the Church hosted a leader’s lunch to explore some of the ministry of Open Doors among persecuted Christians throughout the world. Additional support was provided to ‘Mission Romania’ to enable funds and resources to be deployed to families and communities in need being served by Marius & Roxana Dancovici in Ploiesti, Romania.
Risk management
The Directors purpose to be aware of any major strategic, operational, and financial risks to the Charity. In the year ahead, all the major areas will be reviewed and kept up to date. The Church has a revised child protection policy and every adult who is involved in working with the children and young people in the Church is screened through independent body, ‘ThirtyOne:eight’. The Senior Leaders hold current enhanced DBS certificates as do members of the Staff Team. Public liability is covered by an insurance policy with the Charity specialist insurers Ansvar Insurance Company Limited. Regular reviews of the Charity’s financial status are held by the Trustees.
Objectives and Activities
The Charity’s objects and its principal activity is that of the advancement of the Christian Faith. The principle charitable purposes of the Company in accordance with the objects of the Memorandum and Articles of Association are the advancement of the Christian faith; the furtherance of religious education; the relief of the poor and needy; the relief of the sick and elderly and for the benefit of other charitable bodies and institutions as the Directors in their absolute discretion see fit. When planning our activities for the year we have considered the Commission's guidance on public benefit and guidance for charities relating to the advancement of religion. During this period, the objects of the Charity were put into effect by the Senior Leaders and members of the Leadership Group in conjunction with a growing Staff Team and a wider grouping of Ministry Team leaders.
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Adore Church Directors Report For the Year Ended 31 August 2024
Achievements and Performance
Investment continued to be made in the provision of excellent online resources through the expanding and training of team to serve within this valuable area of ministry. The Church continues to welcome a steady flow of online participants and subscribers to the live services with many in-person visitors expressing that the ‘digital door’ provided through the Church YouTube channel as being a key reason behind their visit. During the year total online views of services and media content since providing YouTube content exceeded 100,000 views.
The Prayer Room vision to facilitate weekly prayer gatherings continues to gain momentum. The Church seeks to establish more regular Worship and Prayer gatherings with a focus on building ‘House of Prayer’ vision and values into the Adore Church community. During the year this developed to include a pattern of early morning prayer meetings at 6am and evening meetings at 7pm each Tuesday. A growing team of musicians, prayer leaders and worship leaders are being trained to facilitate these weekly gatherings with vision to increase in the times ahead to a daily pattern of morning and evening prayer at the church premises.
The Prayer Room director facilitated a New Testament 24-day bible reading intensive with core members of the Team. The success of this initiative inspired a ‘Life of David’ bible reading plan which engaged over 60 participants. The Prayer Room team helped to resource a 26-day prayer vigil with daily prayer at 6am and 6pm called ‘Tend the flame’. A reference to Leviticus 6:13, these prayer gatherings were a direct response to a threatened repossession of the premises. A number of the worship team from the Prayer Room were invited to support the Night Stage program at the David’s Tent festival weekend in Malmsbury, an event that over 60 members of Adore attended.
The Senior Leader was invited to speak at a leaders’ conference with other ministers at an equipping conference in Brighton. During the year a series of architectural and design meetings were held with Alcester Designs to help get the Church ready to engage with building contractors to provide costings for the redevelopment of the premises at 76 Church Road.
Church Leadership development & training events
The Senior Leaders participated in a variety of leadership gatherings including conferences and retreats. The Staff Team are provided with ongoing training and development in their roles. During the year this included a Core Values Index training day provided by Ann Wallis of Hardwired Coaching with individual follow up sessions. Other training included Sozo Team training, training for the new TLG Make Lunch team, a Bible Society training event on the book of Romans, participation in a Prison Ministry team training breakfast and the development of a core ‘House of Prayer’ Team.
The Senior Leaders attended several leadership events including a gathering in Brighton with ministry colleagues. During the year connections with the Ministry Team at Upperroom Church in Dallas, USA were strengthened. This included the Senior Pastors attending the second TURN leaders gathering. During this visit they were invited to share testimony about the development of the Prayer Room at Adore Church. This valuable connection provides access to resources that enhance the growing vision to build a Church community that prioritises ministry to the Lord through regular patterns of prayer and worship. The Senior Leaders and several staff team members attended monthly online TURN gathering meetings with leaders from across the world for training and inspiration. The Staff Team followed a reading and discussion plan around Michael Miller’s book ‘His House, His Presence’. The Senior Leaders attended Manifest Presence conference at Jubilee Church in London with RT Kendall, Heidi Baker, Terry Virgo, Michael Miller & Tope Koleoso.
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Adore Church Directors Report For the Year Ended 31 August 2024
Children and Youth ministry
A team of committed volunteers continued with the development of ministries for the children and young people of the church led by Matt Harris, Children & Families Pastor. The team has continued to strengthen the multiple age specific groups that run alongside Sunday Morning Services, this year that has included further development in the team and resources for 0-2yr olds. Investment has been made into materials to further the team's learning and growing as well as that of the children and young people thus developing a much higher level of Biblical literacy and understanding. Steps have been taken to deepen connections within the families community, specifically a families life group that seeks to connect little ones and teach and strengthen parents with teaching and prayer.
The youth group has continued to grow and develop throughout the year with investment being made into developing a more suitable room for the young people to use. This room is now the base for all youth activities and saw them take on the decorating and development of the room themselves. During the year there has been an increase in the connectedness between church groups and plans are being made to host city-wide events for young people which including the Birmingham Youth Prayer night with around 200 young people in attendance plus providing a worship team for a follow up Youth Event at Renewal Church in Solihull. Youth Nights have recruited more team members enabling us to host 'Levite Nights' to train, encourage and equip the young people in musical and team skills. During the year a successful Youth ‘lock-in’ event was held on the Church premises.
Social, gathering and ministry events
The year has seen a wide range of very positive events takes place to strengthen the community of the Church. Highlights included men’s and women’s socials and gatherings for worship, teaching and ministry, the launch of new small groups across the city plus an initiative to provide regular family gatherings for children and families. Two inspiring baptism services were held during the year with encouraging testimonies about deepening in faith. Seasonal events included Christmas guest services and an excellent Advent spiritual direction retreat as well as participation in the annual Good Friday walk of witness along the Soho Road in Handsworth. Art Sozo ministry and new Prophetic Art sessions provided valuable opportunity for creative expression and encounters with the Lord.
The worship team members have grown in leadership, skill, anointing and in their relationship with Jesus. Ministry to the Lord is a high priority and this is reflected in the investment in Team members, evidenced by 1-1’s coaching sessions with members of the team. Opportunities have been created for the Team to gather for fellowship and input to help build strong & supportive relationships. Other features included song writing gatherings and a valuable retreat day at Redhill Centre in Worcester with input from Burn-24/7 ministry leaders, Robin & Claire Dillamore, who also spoke powerfully at our Adore Church 1st Anniversary.
A vision lunch with an inspiring presentation of slides to highlight the phases of proposed developments was well received. Other significant events included hosting a truly inspiring first Passover meal celebration which helped around 50 Church members engage with the Hebrew roots of our Christian faith. Approaching 80 members attended a Life Foundations course spread over 9 sessions throughout the Autumn. Screenings of The Chosen series 4 were hosted at Church with a number of visitors attending as a result of social media promotions. A team were trained in readiness for the launch of the Make Lunch club. Other regular events included litter picking on streets local to the Church and Connect Lunches for newcomers. This year saw the development of a Prophetic ministry team facilitated by zoom calls and prophetic assignments for individuals assisted by written reports. Team building events continue to be made to help keep the premises and grounds tidy.
5
Adore Church
Directors Report For the Year Ended 31 August 2024
Financial review
The principal funding source is voluntary donations made by members and visitors to the church. The income for the year was £216,963 and expenditure was £260,671 resulting in an overall deficit of £43,708.
Reserves policy
The Company holds reserves in interest bearing accounts with quick access time frames. The Trustees aim to hold reserve funds from a level of three months to approaching six months of operating expenses in these accounts. This equates to a fund of between £57k to £114k. Current unrestricted cash reserves are £421,426 which includes funds to be made available to enable the redevelopment phases of 76 Church Road.
Plans for the future
As the Church continues to grow and develop the Staff Team will continue to expand to provide excellent leadership to resource these growing spaces with the aim to equip and develop the valuable teams of volunteers serving the vision of the Church. Plans for this year include the selection and appointment of a Team of Elders to help guard, guide and govern the Church alongside the Senior Leaders. This year the Church plans to connect with Samaritans Purse to partner with ‘Operation Christmas Child’ by becoming a resource centre and drop-off location. It is hoped that this will help build valuable connections with local schools, businesses, and individuals. The Church plans to continue to develop partnership links with Time4Brum Core Team to help serve the City through prayer and action. Events already planned include leadership gatherings with the new Bishop of Birmingham as well as a Christmas Carol service to be hosted at nearby Villa Park. The growing Prayer Room team plan to host a ‘Grammy’s’ evening to celebrate the development of the Team and their vision within this core area of ministry in the Church. Plans for the end of the year include a ‘Crossing Over’ event for New Year’s Eve open to all the Church family to include food, games, fellowship as well as prophetic ministry, worship and prayer to welcome in 2025. It is hoped that plans for the redevelopment of the premises will progress and that the Church will be able to secure the freehold for the premises, deemed essential to secure the financial and organisational security of the Church.
Statements of Directors responsibilities
The directors are required under Company Law to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the company and its results for that period. In preparing those financial statements the trustees are required to:
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a. Select suitable accounting policies and apply them consistently
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b. Make judgements and estimates that are reasonable and prudent
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c. Prepare the financial statements on an ongoing concern basis unless it is inappropriate to assume the charity will continue in business
The directors are responsible for the keeping of proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity. They are also responsible for the safeguarding of the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approval
This report was approved by the directors on 27th March 2025 and signed on their behalf
............................................................................ Director
David McNeil
6
Adore Church Independent Examiners Report For the Year Ended 31st August 2024
I report on the accounts for the year ended 31 August 2024 set out on the following pages
Responsibilities and basis of report
As the charity trustees of the company (who are treated as directors for the purposes of the company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ( 'The 2006 Act' )
Having satisfied myself that the accounts of the company are not required under Part 16 of the 2006 Act and are eligible for independent examination , I report in respect of my examination of your company's accounts as carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145 (5) (b) of the 2011 Act
Independent Examiner's Statement
I have completed my examination . I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect :
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(1) accounting records were not kept in respect of the company as required by section 386 of the 2006 Act or
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(2) the accounts do not accord with those records; or
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(3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or
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(4) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland ( FRS102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Name Gary Peter Brookes Relevant Professional Qualifications FCA BSc Address 130 Wombourne Park Wolverhampton South Staffs WV5 0LY
Date : 27th March 2025
7
Adore Church Statement of Financial Activities For the Year Ended 31st August 2024
| Restricted Funds 2024 £ Income Charitable Activities Voluntary Income 2 20,887 Bank Interest - Total Income 20,887 Expenditure Charitable Activities 3 14,212 Total Expenditure 5 14,212 Net income 6,675 Reconciliation of funds Total funds brought forward 924,968 Total funds carried forward 931,643 Notes |
Unrestricted Funds 2024 £ 184,436 11,640 196,076 246,459 246,459 (50,383) 471,809 421,426 |
Total Funds 2024 £ 205,323 11,640 216,963 260,671 260,671 (43,708) 1,396,777 1,353,069 |
Total Funds 2023 £ 176,599 7,122 |
|---|---|---|---|
| 183,721 | |||
| 244,251 | |||
| 244,251 | |||
| (60,530) | |||
| 1,457,307 | |||
| 1,396,777 |
There were no recognised gains or losses for 2024 or 2023 other than those included in the Statement of Financial Activities
This Statement of Financial Activities incorporates the same information required for an Income and Expenditure account under the Companies Acts
** Full comparatives for 2023 are shown in note 15
8
Adore Church Balance Sheet
As at 31 August 2024
| Adore Church Balance Sheet As at 31 August 2024 |
|||||
|---|---|---|---|---|---|
| Notes | 2024 | 2023 | |||
| £ | £ | £ | £ | ||
| Fixed Assets | |||||
| Tangible Assets for use by the church | 7 | 830,896 | 813,885 | ||
| Current Assets | |||||
| Debtors | 8 | 4,346 | 2,188 | ||
| Bank & Cash | 9 | 527,692 | 634,557 | ||
| Total | 532,038 | 636,745 | |||
| Creditors :amounts falling due | 10 | 9,865 | 53,853 | ||
| within one year | |||||
| Net Current Assets | 522,173 | 582,892 | |||
| Total assets less current liabilities | 1,353,069 | 1,396,777 | |||
| Net Assets | 1,353,069 | 1,396,777 | |||
| Funds | |||||
| Unrestricted Funds | 421,426 | 471,809 | |||
| Restricted Funds | 12 | 931,643 | 924,968 | ||
| Total | 1,353,069 | 1,396,777 |
The directors have taken advantage of the Companies Act 2006 in not having these accounts audited under Section 477 (1). No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476
The Directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with s386 and s387 of the Companies Act 2006 and for preparing accounts which give a true and fair view of the state of affairs of the company as at 31 August 2024 and of its surplus for the year then ended in accordance with the requirements of s396 and which comply with the requirements of the Act relating to the accounts so far as applicable to the company.
These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.
Signed and approved on the behalf of the Board on 27th March 2025
….................................................................................
Name: Godfrey Barker
…..........................................................
9
Company registration number 3059994
Adore Church Notes to the accounts As at 31 August 2024
Basis of Accounts Preparation
The charity is a Charitable Incorporated Organisation and constitutes a public benefit entity as defined by FRS102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) second edition published October 2019, the Charities Act 2011 the and UK Generally Accepted Practice. The Financial statements are prepared on a going concern basis under the historic cost convention modified to include certain items at fair value when applicable. The financial statements are prepared in sterling which is the functional currency of the charity. Significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Funds
Unrestricted funds are income funds which are to be spent on the charity's general purpose.
Designated funds are unrestricted funds that have been assigned to specific purposes Restricted funds comprise of two elements :-
a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest
b) donations or grants received for a specific object or invited by the charity for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund. The church does not usually invest separately for each fund. Where there is no separate investment, interest is apportioned to individual funds on an average balance basis.
Income Recognition
Planned giving, collections and donations are recognised when received. Tax refunds are recognised when the incoming resource to which they relate is received. Grants and Legacies are accounted for when the church is legally entitled to the amounts due. All other income is recognised when it is receivable. All incoming resources are accounted for gross.
Expenditure Recognition
Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding or constructive obligation on the charity. Amounts received specifically for mission are dealt with as restricted funds. All other expenditure is generally recognised when it is incurred and is accounted for gross. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
Liability recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
10
Adore Church Notes to the accounts As at 31 August 2024
Governance costs
Include costs of the preparation and examination of statutory accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters.
Tangible fixed assets for the use by the church and depreciation
Tangible fixed assets for use by the church are stated at cost less depreciation
Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets
less estimated residual value, over their expected useful lives.
Leasehold Property 1% per annum straight line Furniture 7% per annum straight line Equipment 20% per annum straight line
2. Voluntary Income
| General Offerings Gift Aid tax reclaims Gifts Events and activity income Grants Salary support income Other income |
2024 Restricted £ - 1,605 - - 19,282 - 20,887 |
2024 Unrestricted £ 137,549 29,113 1,752 1,959 7,300 - 6,763 184,436 |
2024 2023 Total Total £ £ 137,549 137,277 30,718 29,103 1,752 1,697 1,959 4,012 7,300 - 19,282 - 6,763 4,510 205,323 176,599 |
|---|---|---|---|
11
Adore Church Notes to the accounts For the Year Ended 31 August 2024
3. Charitable Activities
| 3a.Direct Church Activities Salaries & NIC Events and outreach Worship costs Travel expenses Youth and children Catering and housekeeping and hospitality Training and conferences Online service costs Resources Communication costs Insurance Church utilities Ground rent Church Road Licences and subscriptions Depreciation General office Bank charges Maintenance and small equipment Non Governance legal costs Computer equipment & software Governance 3b. Related Church Activities Pastoral & fellowship support Mission and giving ( for more detail see note 16) Total Running Costs Direct Church Costs Staff Costs |
2024 2023 £ £ 157,830 137,790 3,404 2,110 1,127 1,208 1,357 1,144 2,243 2,113 4,987 4,292 4,610 4,294 515 1,094 935 864 1,041 919 2,474 2,295 11,001 9,831 22,000 22,000 604 683 22,231 21,238 1,307 3,208 437 229 4,905 5,314 2,877 3,672 1,730 1,410 1,784 1,523 249,399 227,231 280 219 10,992 16,801 11,272 17,020 260,671 244,251 |
|---|---|
12
Adore Church Notes to the accounts
For the Year Ended 31 August 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| 4. Governance Costs | ||
| Independent Examiner and accountancy costs | 1,750 | 1,500 |
| Company House Fees | 34 | 23 |
| 1,784 | 1,523 | |
| 5. Net movement in funds for the year | ||
| The net movement in funds for the period is stated after charging: | ||
| Depreciation of tangible assets | 22,231 | 21,238 |
| Independent Examiner and accountancy costs | 1,750 | 1,500 |
| 6. Staff Costs | ||
| Wages & Salaries | 141,051 | 123,363 |
| Social Security Costs | 5,752 | 4,686 |
| Pension costs | 11,027 | 9,741 |
| 157,830 | 137,790 | |
| Remuneration was only paid to one member of the directors in the year | ||
| The average weekly number of staff employed by the church during the period was as follows: | ||
| Pastoral team | 4 | 4 |
| Admin , Media, Tech support | 2 | 2 |
13
Adore Church Notes to the accounts
For the Year Ended 31 August 2024
7. Tangible fixed assets for use by the Charity
| Cost as at 31 August 2023 Additions Cost as at 31 August 2024 Depreciation as at 1 September 2023 Charge for the year Depreciation as at 31 August 2024 Net book Value as at 31 August 2024 Net book Value as at 31 August 2023 |
Leasehold Property £ 798,238 36,086 834,324 15,624 8,343 23,967 810,357 782,614 |
Furniture Equipment £ £ 15,386 60,896 - 3,156 15,386 64,052 2,154 42,857 1,077 12,810 3,231 55,667 12,155 8,385 13,232 18,039 2024 |
TOTAL £ 874,520 39,242 913,762 60,635 22,231 82,866 830,896 813,885 |
2023 TOTAL £ 834,850 39,670 |
|---|---|---|---|---|
| 874,520 | ||||
| 39,397 21,238 |
||||
| 60,635 | ||||
| 813,885 | ||||
| 795,453 |
The leasehold property is valued for insurance purposes at £953,126
| 8. Debtors Employee Loan Gift Aid receivable 9. Bank and Cash Current Accounts Deposit Accounts 10.Creditors :amounts falling due in one year Other creditors Social security and other taxes Accruals |
2024 £ 1,889 2,457 4,346 7,017 520,675 527,692 2024 6,588 1,527 1,750 9,865 |
2023 £ - 2,188 |
|---|---|---|
| 2,188 | ||
| 4,672 629,885 |
||
| 634,557 | ||
| 2023 6,610 1,743 45,500 |
||
| 53,853 |
14
Adore Church Notes to the accounts For the Year Ended 31 August 2024
12. Fund Movements
| Restricted Funds Capital Fund Building Fund Church Road Revenue Funds Trustees holding Staff member funding General Funds Unrestricted funds Total Funds |
Fund Balances Brought Forward £ 924,928 924,928 40 - 40 924,968 471,809 1,396,777 |
Incoming Resources £ - - - 20,887 20,887 20,887 196,076 216,963 |
Outgoing Resources £ - - - 14,212 14,212 14,212 246,459 260,671 |
Transfer of funds - - - - - - - |
Fund Balances Carried Forward £ 924,928 |
|---|---|---|---|---|---|
| 924,928 | |||||
| 40 6,675 |
|||||
| 6,715 | |||||
| 931,643 | |||||
| 421,426 | |||||
| 1,353,069 |
The Building Fund Church Road is now made up of amounts given specifically towards obtaining the Church Rd Premises plus the logical inclusion of the transfer of the remaining balance of the now disposed Living Well Centre
13.Analysis of Net Assets by Fund
| Fixed Assets Net Current Assets Net Assets |
Unrestricted Funds £ (94,032) 522,133 428,101 |
Restricted Total Funds Funds £ £ 924,928 830,896 40 522,173 924,968 1,353,069 |
|---|---|---|
15
Adore Church Notes to the accounts For the Year Ended 31 August 2024
14. Related Party transactions
As agreed in the memorandum of association section 4(a) Rev D T McNeil is paid for his services in his capacity as senior pastor.
| Salary | Pension | |
|---|---|---|
| Rev D T McNeil | £42,697 | £3,204 |
| Mrs Tania McNeil | £24,529 | £1,962 |
| Mr Daniel McNeil | £16,865 | £1,349 |
| Miss Rebekah McNeil | £583 | £0 |
15. SOFA Comparatives
| Income Charitable Activities Voluntary Income 2 Bank Interest Profit on disposal of Property Total Income Expenditure Charitable Activities 3 Total Expenditure 5 Net income Reconciliation of funds Total funds brought forward Total funds carried forward Notes |
Restricted Funds 2023 £ 250 - - 250 250 250 - 924,968 924,968 |
Unrestricted Funds 2023 £ 176,349 7,122 - 183,471 244,001 244,001 (60,530) 532,339 471,809 |
Total Funds 2023 £ 176,599 7,122 - |
|---|---|---|---|
| 183,721 | |||
| 244,251 | |||
| 244,251 | |||
| (60,530) | |||
| 1,457,307 | |||
| 1,396,777 |
16
Adore Church Notes to the accounts For the Year Ended 31 August 2024
| 16. Mission and Giving Global Care Christian Concern The Gap Open Doors Bethel Sozo UK Reach Out Ministries Upper Room Mission Romania Sustainable Faith Ukrainian Refugee Support Stewardship re P Atkin TLG John G Lake Ministries Others |
2024 2023 £ £ 1,500 1,500 2,250 1,500 1,500 1,500 1,500 1,500 1,500 1,850 600 2,700 - 2,663 - 1,693 - 500 - 545 912 - 300 - - 250 930 600 10,992 16,801 |
|---|---|
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