STOCKPORT CENTRE CHURCH 360 Life Church FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CHARITY NUMBER 1051794
STOCKPORT CENTRE CHURCH- CHARITY NUMBER 1051794 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Contents Pages Legal and administrative infom)ation Trustees, report 2to4 Independent examiner's report Statement of financial activities Balance sheet Notes to the financial statements 8t0 13
STOCKPORT CENTRE CHURCH - CHARITY NUMBER 1051794 LEGAL & ADMINISTRATIVE INFORMATION Trustees (also known as the Church Council) Hayley Wall Susannah Smith Viktorija Faigt Stephen Cole Elisabeth English Christine Stanford David Leslie Chair Treasurer (Appointed 215t July 2023) Treasuier (Resigned 21" July 2023) Holding Trustees Stephen Cole, Hayley Wall, Kevin Todhunter Principal Office Cale Green Life Centre 71 Adswood Road Cale Green Stockport Cheshire SK3 8HR Reporting Accountants Scott Roberts Taylor & Co Central Buildings 5 - 7 Corporation Street Hyde Cheshire SK14 IAG Bankers The Cooperative Bank, Stockport I St Peter's Square Stockport Cheshire SKI INX Website https.'113601ife.church Page J
STOCKPORT CENTRE CHURCH- CHARITY NUMBER 1051794 TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 l. Report of the trustees for the year ended 31 March 2024. The Trustees present their report, along with the Financial Statement of the charity for the year ended 31 March 2024. The financial statement has been prepared on the basis of the accounting policies set out in the accompanying notes. The financial statements comply with the charity's constitution, applicable law, and the requirements of the Statement of Recommended Practice (SORP). Constitution and Objectives 360Life Church (Stockport Centre Church) is an unincorporated registered charity, number 1051794, constituted under the Assemblies of God GB model constitution deed dated 2 April 2006. The main objects of th¢ charity are the advancement of the Christian faith, the relief of sickne55 and financial hardship, and the advancement of education. Organisation and Strueture The church is led by a leadership team. who appoint deacons and other leaders. The management of the church is vested in the Church Council. The Church Council members are the charity trustees. Appointment as a charity trustee is therefore automatic upon appointment to a position in the Church Council. The Church Council comprises of no fewer than three members and is constituted from the Leadership and Diaconate of the church. The officers of the Church are the chairman (who shall be the Lead Pastor, or in the absence of a Pastor, a Tnember of tlie leadership team. as appointed by the Church Council), the Secretary and the Treasurer. The Church Council appoints the Secretary and Treasurer. Decisions in the Church Council are made by simple majority open vote. In the event of a tie, the chairman has a casttng vote. For the purpose of holding the land and building assets of the church. the Church Council will appoint no fewer than 3 church members to be Holding Trustees. The Holding Trustee5 act on the directions of the Church Council. Grant Making Policy The church aims to donate at least IO•/o of its unrestricted income to other charitable organisations. 2. Financial Review and Investment Policy There are no restriction5 on the charity's powers to invest. The investment strategy is Set by the Church Council and take5 account of the current demand for funds. The Church Council irnplements a low-risk Strategy. Reserves Policy It is the policy of the charity to retain unrestricted funds at a level which equates to approximately 3 months, committed expenditure together with 6 months. mortgage repayments. This provides sufficient funds to cover outgoings including staff salaries and committed regular grants. The remainder of the reserve is expended on the objectives of the charity. Page 2
STOCKPORT CENTRE CHURCH - CHARITY NUMBER 1051794 TRUSTEES, REPORT CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 Risk Management Insurance needs are reviewed on a regular basis and advice is sought to ensure adequate insurance cover is in place at all times. The church's Health and Safety policy is reviewed regularly to bring it in line with current church activities and with best practice. The policy statements cover inter alia, safety responsibilities. safety infonnation and training, risk assessments, fire precautions, first aid, safeguarding the welfare of children and young people, and competency and training of workers and accident reporting procedures. Church members as a whole (as opposed to just church employeeslworkers) are included within the scope of the policy to promote the principle that health and safety is everyone's responsibility. Safety audits are carried out to ensure compliance. In order to safeguard the welfare of children, young people and vulnerable adults, the church operdtes a Safeguarding policy. The church's Safeguarding policy is reviewed periodically to maintain it in line with current church activities and with best safe working practice. All children's/youth workers are carefully selected and Screened and have an enhanced Disclosure and Barring Service (DBS) disclosure check or its equivalent. Others who have access to children, such as church trustees and other leaders are also carefully screened, including an enhanced DBS disclosure check or its equivalent. Checks are repeated every three years. Children's workers are trained in safe practice and work within approved guidelines. Safeguarding awareness training is arranged as required. Th¢ system of Internal Financial Control is designed to provide reasonable assurance against material misstatement or loss of funds. They include.. Annual budget approved by the church council, which is regularly reviewed against actual perfonnance. Annual consideration of financial results by the trustees and presentation of annual reports to the church meTnbership at the AGM. Delegation of authority and segregation of duties. Annual Independent review of financial records. 3. Financial Results and Activities Income for the year was £113,322 (2022123: £118,483). This included £16,473 in Gift Aid r¢¢¢ipts and £1,678 from grants recorded on a receivable rather than r¢c¢ived b351S. Expenditure was £126,527 (2022123: £113,788). During the year, the church awarded grants and benevolent gifts totaling £1 0,105 (2022123.. £9.360) to charitable organisations and missions, both in the UK and overseas. There was a distribution of £948 in special offering5 Wlth respect to the Morocco and Libya appeal. The church also made financial gifts to various individuals in need, using restricted rtdS held for this purpose in the church's Love Fund £608 (2022123 £68). The sum of £60,051 (2022123: £52.372) after reallocation of administratton costs wa5 paid to ernployees including trustees in respect of administrative. ministy and pastoral services rendered to the church, including salaries where applicable. Building The building purchase was funded from special offerings, interest-free loans provided by church rnember5, Utilisation of the charity's reserves and a £1 00.000 mortgage obtained from Kingdom Bank. The outstanding balance on the mortgage, as at March 2024, is £66.393. Funds Current assets stood at £142,268 at 31 March 2024 (31 March 2023: £144.089), including reserves and restricted funds. Page 3
STOCKPORT CENTRE CHURCH - CHARITY NUMBER 1051794 TRUSTEES) REPORT CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 4. Volunteers & Donors Many of our donors give via online bank transfers and standing orders. The church is very appreciative of the financial support and the generous donations made by members. Throughout the year, church members have also given voluntary service towards achieving the objectives of the charity. The charity is grateful for the sacrificial contribution of time and effort from every volunteer. S. Statement of Trustees. Responsibilities Charity law requires the trustees to prepare financial statements for each financial year that give a true and fair view of the state of the financial affairs of the charity during the year and its financial position at the end of the year. In preparing those financial statement5, the trustees are required to: Select suitable accounting policies and then apply them consistently. Make judgements and estimates that are reasonable and prudent. State whether applicable accounting standards and the Statement of Recommended Practice have been followed, subject to any departures disclosed and explained in the Financial Statement. Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping accounting record5, which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the Financial Statement complies with the Charities Act. They are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. On behalf of the Trustees. Hayley Wall Trustee Date.. Page 4
STOCKPORT CEIYTRE CHURCH - CHARITY NUMBER 1051794 INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES Report to the trustees of Stockport Centre Church (Charity no. 1051794) on the accounts for the year ended 3151 March 2024, which are set out on pages 6 to 13. Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required thi5 year under section 144 of the CharitÉes Act 2011 (the Charities Act) and that an independent examination is needed. It is our responsibility to.. Examine the accounts under section 145 of the Charities Act. To follow the procedures laid down in the general directions given by the Charity Commission (under section 145 (5) (b) of the Charities Act).. and To state whether particular matters have come to our attention. Basis of Independent Examiner's Statement Our examination was Carried out in accordance with the general direction given by the Charity Commission. An examination includes a Teview of the accounting records kept by the charity and a comparison of the accounts presented with those records. It a150 includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a true and fair view, and the report is limited to those rnatter5 set out in the statement below. Independent Examiner's statement In connection with our examination. no matter has come to our attention: (l) Which gives us reasonable cause to believe that in any material respect the requirements: _ to keep accounting records in accordance with section 130 of the Charities Act.. and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met: or (2) To which, in our opinion, attention should be drawn in order to enable a proper understanding of the account5 to be reached. Scott Roberts Taylor & Co Accountants & Registered Auditors Central Buildings sn Corporation Street Hyde Cheshire SK14 IAG £oig Date: Page 5
STOCKPORT CENTRE CHURCH - CHARITY NUMBER 1051794 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 RtrIcted General Funds Funds Total Funds 2024 Total Funds 2023 Notes Income Resources Donations Eamed income Holiday funds incom¢ Interest received Grant income Wann Space income Outreach Fund income Love Fund Who Let the Dads Out Miscellaneous income 106,337 2,682 106.337 2,682 815 1,075 180 1,498 109,113 1,528 100 90 1,356 1,490 2,000 2,720 815 1,075 180 1,000 400 498 400 335 335 86 Outgoing Resources Church salaries, pensions & NIC Donations Administrative expenses Repairs & Maintenance Catering Toddlers & Bits and Bots Children & Youth Safeguarding Social events Visiting speakers Worship group Love fund disbursement Holiday funds distribution Small groups Special offerings distribution New community outreach Mortgage interest Pastoral Costs Leadership costs Training and development Who let th¢ dads out Distributions Mission costs Special Events Loss on Disposal Depreciation io 60,051 4,995 13,160 6,478 927 296 1,145 92 280 2,083 60,051 4,995 13,160 6,478 927 296 1,145 92 280 2,083 52,372 3,125 11,987 1,888 946 278 561 234 189 1.715 103 68 608 1,038 608 12 3,186 1,223 4.374 2.374 1,203 320 247 1,658 9,360 461 248 948 1,625 5,312 613 1,610 183 948 1,625 5,312 613 1,610 183 452 1,824 9,105 452 786 9,105 123 643 126 527 113788 Net incoming resources (13,214) (13,205) 4,695 Transfer between funds Net movement in funds Total funds brought forward Total funds carried forward 89 98 11.048 89 (13,303) (13,205) 417486 428 534 4,695 423 839 Page 6
STOCKPORT CENTRE CHURCH - CHARITY NUMBER 1051794 BALANCE SHEET ON 31 MARCH 2024 2024 2023 Notes FIXED ASSETS Tangible assets 346,475 360,986 CURRENT ASSETS Debtors Cash at bank and in hand 17,358 124 910 142,268 18.149 125 940 144,089 CREDITORS: amounts falling due within one year NET CURRENT ASSETS 135 247 137 799 TOTAL ASSETS LESS CURRENT LIABILITIES 481,722 498,695 CREDITORS: amounts falling due after more than one year FUNDS OF THE CHARITY Restricted Income Fund 12 11,146 11,048 Designated Fund 276.999 290,735 General Fund 127 184 126751 404 183 417486 Signed on behalf of all the Trustees on Zlg 1 . 25 by: MJJ GJ Trustee- Hayley Wall Trust¢¢- Susie Smith Charity No." 1051794 The notes on pages 8 to 13form part ofik¢sefinancial stalemenls Page 7
STOCKPORT CENTRE CHURCH- CHARITY NUMBER 1051794 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 STA TEMENT OF ACCOUNTING POLICIES These accounts have been prepared under the histOTlC Cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to the accounts. The accounts have been prepared in accordance with the Statement of Recommended Practice- Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and with the Charitie5 Act2011 The charity constitutes a public benefit entity as defined by FRS 102. Irrecoverable VAT is charged to the SOFA as incurred. INCOMING RESOURCES All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can b¢ quantified with reasonable accuracy. No amounts are included in the financial statements for services and time donafrd by volunteer5. EXPENDITURE All expenditure is accounted for an accrual basis and has been included under headings that aggregate all costs relating to the same category. When costs cannot be directly attributed to particular headings, they have been allocated to activities on basis consistent with use of resources. Support costs include allocation of the administrator's salary cost relating to directly supporting the objects of the Charity. FUNDS OF THE CHARITY General funds are unrestricted funds which are available for use at the discretion of the tTUStees in further and of the general objective5 of the charity, which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by th¢ trustees for particular purposes and also may include funds not really available for immediate use. Restricted funds are to be used in accordance with specific restrlctions imposed by donor5, or which have been raised for particular purposes. Page 8
STOCKPORT CENTRE CHURCH - CHARITY NUMBER 1051794 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 TANGIBLE ASSETS Tangible fixed assets costing more than £100 are capitalised and included on fixed assets at cost. Depreciation is PTovided on all tangible assets. Depreciation is at rates calculated to write off the cost on a straight-line basis over their expected useful economic life. Depreciation charges commence in the year following the year of "Asset Purchase" or "brought into Use" at the following rates: _ Short tenn and lease Building Fixtures and fittings Equipment Computer Equipment Motor vehicles over life of lease over 50 years over 10 years over 5-10 years over 3 years ov¢r 4 year5 Expenditure on computer software is written off as incurred. TANGIBLE FIXED ASSETS Computer Equipment Fixtures Fittings & Equipment Total Land & Building5 Cost: At l April 2023 Additions Disposal At 31 March 2024 438,008 18,592 24,011 319 480,611 319 Depreciation: At l April 2023 Charge for Year Elimination on disposal At 31 March 2024 87,601 8,760 13,434 5,040 18,680 940 119,715 14,740 Net book value: At 31 March 2023 At 31 March 2024 Page 9
STOCKPORT CENTRE CHURCH- CHARITY NUMBER 1051794 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 DEBTORS 2024 2023 Prepayments & Accrued Income Other Debtors 993 679 CASH AT BANK AND IN HAND 2024 2023 Cash at bank 124910 125 940 CREDITORS: amounts falling due within one year 2024 2023 Mortgage PAYEINIC Pension Accruals and deferred income 3,082 757 61 3.082 499 369 CREDITORS: amounts falling due after one year 2024 2023 Mortgage DONATIONS & LEGACIES 2024 2023 G¢n¢ral offering Special offering Payroll giving Community Buildings Gift Aid Gift Aid 89,864 87,753 2.390 1.500 430 1,064 EARNED INCOME 2024 2023 Fundraising schemes Social events Bibs and bots income Toddlers, income 1,676 187 30 322 989 88 918 Page 10
STOCKPORT CENTRE CHURCH - CHARITY NUMBER 1051794 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ANALYSIS OF OUTGOIIYG RESOURCES Restricted General Funds Funds Total Fund5 2024 Total Funds 2023 Donations: AOG contribution Mission giving Love Gift Total 3,731 1,264 3,731 1,264 2.928 180 17 Administrative Expenses: Insurance Utilities Communications Mileage & travel claims Administrator reallocation Accountancy Website & computer costs Equipment Cleaning Printing, postage & stationery Legal & professional fees Subscriptions Total 1,653 3,467 226 1,653 3,467 226 1,242 3,294 180 405 1,805 1,450 1,851 26 362 212 26 1,872 1,320 1,468 119 1.694 332 50 959 1,872 1,320 1,468 119 1,694 332 50 959 Details of certain items of Expenditure: 2024 2023 Trustees Expense5 Number of trust¢es who were paid expenses Fees for examination ofaudit Independent examiners fees Page IJ
STOCKPORT CENTRE CHURCH- CHARITY NUMBER 1051794 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 io. PAID EMPLOYEES 2024 2023 Staff Costs Gross wages, salaries and benefits in kind Employers National Insurance costs Pension Costs Total 57,792 50,530 Average number of Employees in the year 2024 2023 The parts of the charity in which the employees work Church Total Defined Contribution Pension Scheme 2024 2023 The costs of the scheme to the charity for the year The amount of any contributions outstanding at the year-end The amount of any contribution prepaid at the yeai-end 4.239 61 3.870 339 ii. FUNDS OF THE CHARITY At l April 2023 Surplusl Transferred At 31 March (Deficit) Between Funds 2024 Restrieted Income Fund 11,048 89 11,146 General & Designated Fund 417486 89 404 183 Page 12
STOCKPORT CENTRE CHURCH - CHARITY NUMBER 1051794 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12. RESTRICTED FUND 2024 2023 Love Fund Sabbatical Fund WLTDO GM Wellbeing Wann spaces Travel Reserve 3,435 7,500 211 3.643 6,250 134 (51) 858 214 Total Page J3