## **Bethel Pentecostal Fellowship**
## **Charity No. 1050308**
## **Trustees' Report and Unaudited Accounts**
**31 December 2024**
**Bethel Pentecostal Fellowship Contents**
||Pages||
|---|---|---|
|Trustees' Annual Report|2 to 5||
|Independent Examiner's Report||6|
|Statement of Financial Activities||7|
|Summary Income and Expenditure Account||8|
|Balance Sheet||9|
|Notes to the Accounts|10 to|15|
Page 1
**Bethel Pentecostal Fellowship Trustees Annual Report**
The trustees, present their report with the unaudited financial statements of the charity for the year ended 31 December 2024.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Charity No. 1050308**
## **Registered Office**
One Life Church St Andrew Street Tiverton Devon EX16 6PH
## **Trustees**
The following Trustees served during the year:
P. Gover
A. Rowan
J. Warrender
K. Wright G. Yeo
## **Accountants**
Cloud Accountancy Solutions 94 Lower Cross Road Bickington Barnstaple EX31 2PJ
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 irregularities.
Page 2
## **Bethel Pentecostal Church, known as One Life Church, Tiverton**
## **Trustees’ Annual Report for the year ending 31 December 2024**
## **Structure, Governance and Management**
One Life Church Tiverton operates as a local Christian AoG church community based in Tiverton, Devon. The charity is overseen by a team of trustees who are responsible for governance, safeguarding, finances, and ensuring the fulfilment of the charity’s objectives.
Day-to-day activities are coordinated by church leaders and volunteers. Trustees meet regularly to review finances, events, and strategic direction.
## **Objectives and Activities**
The charity’s principal objectives are:
- To advance the Christian faith in Tiverton and surrounding areas.
- To provide opportunities for worship, prayer, teaching, and community engagement.
- To support wellbeing and social connection through pastoral care, youth work, and community events.
To achieve these aims, One Life Church Tiverton provides regular worship services, Connect groups, prayer gatherings, youth activities, and outreach events in partnership with other local churches and community organisations Achievements and Performance (2024)
2024 has been a year of **growth, outreach, and thankfulness** , reflecting our mission to share the love of Jesus through word and action.
## **Worship and Spiritual Growth**
- Regular **live worship** established once a month and later increasing to two Sundays a month with the support of local AoG ministers.
- The Thursday **Connect Group** , continued to strengthen fellowship and discipleship. Plans are in place to move to a daytime group in 2025.
- Weekly **Tuesday prayer meetings** , sustained the spiritual life of the church.
- We celebrated **baptisms** for three young members of our church family.
- Youth and Family Engagement.
- The launch of a **Youth Club** saw up to 14 children attending regularly, with parents and young people hearing the gospel message.
- Events such as the **pyjama party** , games nights, and youth-led worship encouraged participation and fun.
- The **Light Party** (October 31st) offered an alternative Halloween celebration with worship and activities for all ages.
Page 3
## **Community and Outreach**
- Supported **CHAT** and their Food Pantry throughout the year.
- Took part in **Tiverton Arise Mission** , hosting visitors from South Korea.
- Continued participation in **Tiverton Churches Together** , including joint services with seven other local churches.
- Provided **21 shoeboxes** for families in Ukraine through our Christmas appeal.
- Hosted the **Christian Bikers Autumn Meeting** and welcomed community groups such as local dance classes (whose teacher won _Dance Teacher of the Year, SW_ ).
## **Events and Celebrations**
- **One Life’s Got Talent** showcased local talents and built community spirit.
- **Two weddings** were held — the first in many years — celebrating the marriages of two couples.
- Introduced **Sunday Breakfast Services** in November and December, creating space for fellowship and outreach.
- Welcomed the **South Molton Brass Band** for our nativity and held a joyful **Christingle Service** on 22nd December.
## **Kintsugi Hope**
- Received funding to launch the **Kintsugi Hope Wellbeing Course** , providing a safe space for people to share and heal. The course successfully ran its first term from March to June 2024. This was very well received by participants.
## **Buildings and Future Development**
- Through the **Future Development Fund** and generous giving, we raised an incredible amount towards roof repairs and building improvements.
- Additional funding was received from the **Benefactor Trust** .
- Plans are underway to continue these improvements into 2025.
## **Fellowship and Pastoral Care**
- Every member was prayed for around their birthday.
- Volunteers contributed in worship, youth work, prayer, cleaning, welcoming, and more — embodying the spirit of service.
- Our first **Men’s Curry Night** (October) strengthened fellowship among men in the church.
## **Financial Review**
The charity remains financially stable, supported by regular giving, fundraising events, and external grants.
The highlight of 2024 was the £42,000 raised for the Future Development Fund, enabling us to begin essential work on the church roof and facilities.
Funds are managed carefully, with transparency and accountability to trustees and the congregation. An independent examination of the accounts will be completed in line with Charity Commission requirements.
Page 4
## **Plans for Future Periods**
Looking ahead to 2025, One Life Church Tiverton aims to:
- Continue live worship on more Sundays each month.
- Develop the Connect group into a daytime session for wider accessibility.
- Launch the next Kintsugi Hope course.
- Begin roof repairs funded by the Future Development Fund.
- Expand youth ministry and family outreach opportunities.
- Strengthen links with local churches and the wider Tiverton community.
## **Acknowledgements**
We thank every volunteer, supporter, and member of One Life Church Tiverton for your faithfulness and service. Together we have proclaimed Jesus as Lord, prayed for the sick, celebrated baptisms, and worshipped in Spirit and truth.
“Rejoice always, pray continually, give thanks in all circumstances; for this is God’s will for you in Christ Jesus.”
_(1 Thessalonians 5:16–18)_
## **Approved by the Trustees on 16.10.25**
and signed on their behalf by:
Andrea Rowan
## **Chair of Trustees**
Page 5
**Bethel Pentecostal Fellowship Independent Examiners Report**
## **Independent Examiner's Report to the trustees of Bethel Pentecostal Fellowship**
I report to the charity trustees on my examination of the financial statements of Bethel Pentecostal Fellowship for the year ended 31 December 2024.
## **Responsibilities and basis of report**
As the charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.
Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). 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 can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe:
- accounting records were not kept in accordance with section 386 of the 2006 Act ; or
- the financial statements do not accord with those records; or
- the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
- the financial statements 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 (FRS 102).
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 financial statements to be reached.
Cheryl Manning Institute of Financial Accountants Cloud Accountancy Solutions 94 Lower Cross Road Bickington Barnstaple
EX31 2PJ 29 October 2025
Page 6
## **Bethel Pentecostal Fellowship Statement of Financial Activities**
## **for the year ended 31 December 2024**
|**Notes**
**Income and endowments**
**from:**
Donations and legacies
4
Other
5
**Total**
**Expenditure on:**
Other
6
**Total**
Net gains on investments
**Net income**
7
Transfers between funds
**Net income before other**
**gains/(losses)**
**Other gains and losses**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**2024**
**£**
17,055
2,555|**Restricted**
**funds**
**2024**
**£**
19,340
-|**Total funds**
**2024**
**£**
36,395
2,555|**Total funds**
**2023**
**£**
42,517
3,823|
|---|---|---|---|---|
||19,610
21,728|19,340
2,197|38,950
23,925|46,340
24,239|
||21,728
-|2,197
-|23,925
-|24,239
-|
||(2,118)
-|17,143
-|15,025
-|22,101
-|
||(2,118)|17,143|15,025|22,101|
||(2,118)
317,412|17,143
26,145|15,025
343,557|22,101
321,456|
||315,294|43,288|358,582|343,557|
Page 7
**Bethel Pentecostal Fellowship Summary Income and Expenditure Account**
## **for the year ended 31 December 2024**
|Income
**Gross income for the year**
Expenditure
Depreciation and charges for
impairment of fixed assets
**Total expenditure for the year**
Net income before tax for the year
**Net income for the year**|**2024**
**£**
38,950
38,950
23,592
333
23,925
15,025
15,025|**2023**
**£**
46,340|
|---|---|---|
|||46,340|
|||24,239
-|
|||24,239|
|||22,101|
|||22,101|
Page 8
**Bethel Pentecostal Fellowship Balance Sheet**
## **at 31 December 2024**
|**Notes**
**2024**
**£**
**Fixed assets**
Tangible assets
9
311,513
311,513
**Current assets**
Cash at bank and in hand
47,429
47,429
**Creditors:**Amount falling due within one year
10
(360)
**Net current assets**
47,069
**Total assets less current liabilities**
358,582
**Net assets excluding pension asset or liability**
358,582
**Total net assets**
358,582
**The funds of the charity**
**Restricted funds**
11
Restricted income funds
43,288
43,288
**Unrestricted funds**
11
General funds
315,294
315,294
**Reserves**
11
**Total funds**
358,582|**2023**
**£**
310,000|
|---|---|
||310,000
33,557|
||33,557
-|
||33,557
343,557|
||343,557|
||343,557|
||26,145|
||26,145
317,412|
||317,412|
||343,557|
Approved by the board on 29 October 2025
And signed on its behalf by:
A. Rowan Trustee 29 October 2025
Page 9
**Bethel Pentecostal Fellowship Notes to the Accounts**
## **for the year ended 31 December 2024**
- 1 **Accounting policies**
## **Basis of preparation**
The financial statements have been prepared 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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable 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 accounting**
- Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
- Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
- Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
## **Income**
- Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
- Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
- Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 10
**Bethel Pentecostal Fellowship Notes to the Accounts**
## **Expenditure**
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with 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 activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs. Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
- Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Tangible fixed assets and depreciation**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Freehold property 0% No depreciation
Computer Equipment 33% Reducing Balance
## **Freehold investment property**
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
## **Trade and other debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **Cash and cash equivalents**
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 within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Page 11
**Bethel Pentecostal Fellowship Notes to the Accounts**
## **Trade and other creditors**
Short term creditors are measured at the transaction price. Other creditors and provisions 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 reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **Receipt of donated goods, facilities and services**
All donated goods, facilities and services 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 by guarantee and consequently does not have share capital.
## 3 **Statement of Financial Activities - prior year**
|**Income and endowments from:**
Donations and legacies
Other
**Total**
**Expenditure on:**
Other
**Total**
**Net income**
**Net income before other**
**gains/(losses)**
**Other gains and losses:**
**Net movement in funds**
**Reconciliation of funds:**
**Total funds carried forward**
4
**Income from donations and legacies**
Gifts and donations|**Unrestricted**
**£**
17,055
17,055|**Unrestricted**
**funds**
**2023**
**£**
16,372
3,823
20,195
24,239
24,239
(4,044)
(4,044)
(4,044)
(4,044)
**Restricted**
**£**
19,340
19,340|**Restricted**
**funds**
**2023**
**£**
26,145
-
26,145
-
-
26,145
26,145
26,145
26,145
**Total**
**2024**
**£**
36,395
36,395|**Total funds**
**2023**
**£**
42,517
3,823|
|---|---|---|---|---|
|||||46,340
24,239|
|||||24,239|
|||||22,101|
|||||22,101|
|||||22,101|
|||||22,101|
|||||**Total**
**2023**
**£**
42,517|
|||||42,517|
Page 12
**Bethel Pentecostal Fellowship Notes to the Accounts**
## 5 **Other income**
|Rental Income
6
**Other expenditure**
Employee costs
Motor and travel costs
Premises costs
Amortisation, depreciation,
impairment, profit/loss on
disposal of fixed assets
General administrative costs
Legal and professional costs
7
**Net income before transfers**
This is stated after charging:
Depreciation of owned fixed assets
8
**Staff costs**
Salaries and wages|**Unrestricted**
**£**
6,534
2,973
6,085
159
5,342
635
21,728|**Unrestricted**
**£**
2,555
-
2,555|**Total**
**2024**
**£**
2,555
-
2,555|**Total**
**2023**
**£**
3,557
266|
|---|---|---|---|---|
|||||3,823|
||||||
|||**Restricted**
**£**
-
-
1,876
174
148
-
2,197
**2024**
**£**
333
**2024**
6,534
6,534|**Total**
**2024**
**£**
6,534
2,973
7,961
333
5,489
635
23,925|**Total**
**2023**
**£**
10,984
3,233
4,892
-
5,130
-|
|||||24,239|
|||||**2023**
**£**
-
**2023**
10,984|
|||||10,984|
No employee received emoluments in excess of £60,000.
Page 13
**Bethel Pentecostal Fellowship Notes to the Accounts**
## 9 **Tangible fixed assets**
|9
**Tangible fixed assets**||||
|---|---|---|---|
|**Cost or revaluation**
At 1 January 2024
Additions
At 31 December 2024
**Depreciation and**
**impairment**
Depreciation charge for the
year
At 31 December 2024
**Net book values**
At 31 December 2024
At 31 December 2023
10 **Creditors:**
amounts falling due within one year
Accruals|**Land and**
**buildings**
**£**
310,000
-
310,000
-
-
310,000
310,000
**2024**
**£**
360
360|**Computer**
**Equipment**
**£**
-
1,846
1,846
333
333
1,513
-|**Total**
**£**
310,000
1,846|
||||311,846|
||||333|
||||333|
||||311,513|
||||310,000|
||||**2023**
**£**
-|
||||-|
Page 14
**Bethel Pentecostal Fellowship Notes to the Accounts**
## 11 **Movement in funds**
|**Restricted funds:**
**Restricted income funds:**
Future Development Fund
Kintsugi Hope
_Total_
**Unrestricted funds:**
**General funds**
**Total funds**|**At 1 January**
**2024**
26,145
-
26,145
317,412
343,557|**Incoming**
**resources**
**(including**
**other**
**gains/losses**
**)**
**£**
17,820
1,520
19,340
19,610
38,950|**Resources**
**expended**
**£**
(1,494)
(703)
(2,197)
(21,728)
(23,925)|**At 31**
**December**
**2024**
**£**
42,471
817|
|---|---|---|---|---|
|||||43,288|
|||||315,294|
|||||358,582|
Purposes and restrictions in relation to the funds:
Restricted funds: Future Development Fund To improve the church through maintenance, renovation and building Kintsugi Hope To help improve child and adult mental health and mental wellbeing
## 12 **Analysis of net assets between funds**
|Fixed assets
Net current assets|**Unrestricted**
**funds**
**£**
310,784
4,510
315,294|**Restricted**
**funds**
**£**
729
42,559
43,288|**Total**
**£**
311,513
47,069|
|---|---|---|---|
||||358,582|
## 13 **Prior Year Adjustment**
During the year ended 31 December 2024, the charity identified that a property asset had been omitted from the fixed asset register and the financial statements in prior years.
The property was transferred in September 2022 for £310,000, but had not been recognised within tangible fixed assets in the prior year accounts. The omission resulted in an understatement of both tangible fixed assets and unrestricted funds in the comparative figures for the year ended 31 December 2023.
This has been corrected by restating the prior year comparatives and the opening balances at 1 January 2024, in accordance with FRS 102 Section 10: Accounting Policies, Esti ~~mates and Erro~~ rs.
The effect of this prior year adjustment is as follows:
Increase in tangible fixed assets £310,000 Increase in unrestricted funds £310,000
There is no impact on the charity’s income or expenditure for the current or prior years, and no effect on cash balances.
Page 15