CITY LIFE CHURCH - SUNDERLAND
ANNUAL REPORT AND FINANCIAL STATEMENTS For the year ended 31 December 2024
Charity Number 1052114
CITY LIFE CHURCH � SUNDERLAND
Trustees Annual Report
For year ended 31 December 2024
The Trustees are pleased to present their annual report together with the financial statements of the charity for the year ended 31 December 2024.
The financial statements comply with the Charities Act 2011, the Memorandum and Articles of Association, 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) (effective 1 January 2015).
Our purposes and activities
The objects of the church are for the benefit of the public:
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a) to advance the Christian faith in accordance with the statement in such ways and in such parts of the United Kingdom or the world as the Church Council from time to time may think fit;
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b) to relieve sickness and financial hardship and to promote and preserve good health by the provision of funds, goods or services of any kind including through the provision of counselling and support in such parts of the United Kingdom or the world as the Church Council from time to time may think fit; and
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c) to advance education in such ways and in such parts of the United Kingdom or the world as the Church Council from time to time may think fit.
Review of the last year
The church has continued to see healthy growth throughout 2024 with average Sunday attendance at 280, an increase of 7.5% on the previous year.
As a supplemental means of discipleship, we run fortnightly small groups with approximately 40% of our church engaging in these. We also have a healthy engagement for our mid-week monthly prayer service.
Our Youth Connect for young people aged between 11-17 is still going strong. Training and support for the team leading this has been in place throughout the year and is facilitating their development as leaders.
Our leadership development community has been active throughout the year with bi-monthly training sessions, coaching groups and external leadership input from guest speakers.
Our strategic Leadership Team meets regularly and carries the responsibility for the strategic vision and mission of the Church.
A review of the Board of Trustees took place in the autumn and provided clarity on overall purpose and responsibility as well as defining some individual roles. A standard agenda is in place for meetings with an agreed cadence of additional items. Updated financial reporting has been aided by the transition to online software.
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CITY LIFE CHURCH � SUNDERLAND
Trustees Annual Report
For year ended 31 December 2024
Achievements and performance
1. Sunday & mid-week Church gatherings
Sunday services continue to be a highlight with weekly new attendees and families joining us. We have seen growth across all teams, from kid�s church to host team and worship team.
2. Community Hubs
Our Community Hub consists of our weekly toddler groups and foodbank.
We operate two weekly foodbank sessions with a dozen or so volunteers � Wednesdays (1-3pm) and Fridays (10am -12 pm)
In 2024, we continue to serve over 1000 clients, representing even more people. This continues our trend of significant growth.
Our Wednesday Toddler Group (10:30am � 12pm) averages 22 pre-school children. A second group runs in Sunderland City Centre and connects with a number of families every week.
3. Love Christmas/Love Week
As part of our Christmas giving, we collected over 400 toys, all donated by our congregation. These toys were then given to �Love Amelia,� a local children�s charity in Sunderland. Additionally, we contributed £1,000 toward Christmas hampers for distribution to local schools across our city.
During the year we also host at least 2 further outreach weeks which include events for the local community (afternoon tea / Easter Egg hunt etc). The aim of these weeks is to support community needs and provide activities for local families. Fundraising forms part of this with support given to local Charities.
Financial review
City Life Church � Sunderland is funded by donations and a small amount of fees for charitable services. The total income for the year was £164,499 (2023: £171,631) being a decrease of 4 per cent. This income is allocated across respective funds on the Statement of Financial Activities in accordance with the Statement of Recommended Practice (SORP)
The Statement of Financial Activities for the year ended 31 December 2024, shows a deficit across all funds of £36,889 (2023: Surplus £29,937).
The Balance Sheet at 31 December 2024 shows total funds carried forward of £723,496 (2023: £760,385) of which there are £9,815 restricted funds (2023: £11,336).
Looking at the next 12 months, financially there is a fair degree of optimism that cash reserves will remain at a very acceptable level.
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CITY LIFE CHURCH � SUNDERLAND
Trustees Annual Report
For year ended 31 December 2024
Reserves policy
The reserves policy for City Life Church is to aim to hold at least three months� general offerings as cash reserves. This is in addition to any fixed assets held and used for the church�s aims and purposes. This level of reserves should ensure that at any time of the year the Church is not required to borrow funds on overdraft from its bankers. Any additional reserves are generated with a view to fund longer-term projects.
Preparation of the accounts on a going concern basis
The financial statements have been prepared on a going concern basis. The Trustees have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. The Trustees have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.
Plans for future periods
To ensure the church continue to grow in its ability to effectively outwork its mission various projects are planned for 2025 to achieve this aim. For example:
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To grow our discipleship community through intentional teaching and focused groups. To resource the regional church through collaborative events and leadership forums. To explore ways we can serve our local community more through expanding our community hub network under the new term �Love Wearside.�
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To review and expand the staff team to carry the increasing workload. To explore opportunities to plant a church.
Reference and administrative details
Charity number 1052114
Operational address 170 Hylton Road, Sunderland Tyne & Wear, SR4 7YA
Our advisors Solicitors Geldard�s 21-22 Burns Street, Ilkeston Derbyshire DE7 8AA Independent Jim Dodds Examiner 33 The Glebe NE61 6HW Bankers HSBC Bank PLC Virgin Money, Jubilee House Unit 49-51 The Bridges Gosforth Shopping Centre Newcastle upon Tyne Market Square NE3 4PL Sunderland, SR1 3LE
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CITY LIFE CHURCH � SUNDERLAND
Trustees Annual Report
For year ended 31 December 2024
Bankers continued Stewardship Services (UKET) Limited, 1 Lamb�s Passage London, EC1Y 8AB
Trustees and key management personnel
The trustees and officers serving during the year and since the year end were as follows:
Trustees Mrs Kerina Clark Chair Mr Jonathan Clarke Mr Ben Dowding Mr Kevin Clarke Mr Lewis Collins Mr Simon Hilton Mr Ed Morrow
Key management personnel
Senior Minister Mr Jonathan Clarke
Structure, governance and management
Governing documents
Constitution and trust deed adopted 10 August 1993, as amended on 17 February 1997 and 11[th] September 2002.
Appointment of Trustees
The Church is managed by the Church Council, which compromise the Minister and duly appointed or elected leaders of the Church. Trustees are nominated by the Senior Minister and appointed by the Church Council from time to time. The Church Council appoints Holding Trustees for the purpose of holding the land and buildings of the Church who act on the directions of the Church Council.
Organisation
The Trustees meet at least four times in each year and deal with the administration of the charity encompassing the strategic vision, financial accountability, risk management, and any other administrative business of the Church. The operational management of the organisation is undertaken by the paid staff team and other Trustees and volunteers.
Risk management
The Trustees have conducted a review of the major risks to which the charity is exposed and systems have been established to mitigate those risks including the implementation of procedures for authorisation of all transactions and projects and for ensuring the consistent quality of the delivery of all operational aspects of the charity. These procedures are periodically reviewed to ensure that they still meet the needs of the charity.
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CITY LIFE CHURCH � SUNDERLAND
Trustees Annual Report
For year ended 31 December 2024
Statement of Trustee Responsibilities
The charity Trustees are responsible for preparing a Trustees� annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The Charity Trustees are required to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and of incoming resources and application of resources. In preparing financial statements, the Trustees are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity. 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.
Approved by the Trustees on: and signed on their behalf by:
(Chair)
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CITY LIFE CHURCH - SUNDERLAND
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES
For the year ended 31 December 2024
I report on the financial statements of City Life Church - Sunderland for the year ended 31 December 2024, which are set out on pages 7 to 17.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 ("the Charities Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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examine the accounts under section 145 of the Charities Act,
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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 my attention.
Basis of independent examiner's statement
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also 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
Independent examiner's statement
In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:
the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than if the requirements that the accounts give a "true and fair" view which is not a matter considered as part of an independent examination.
I 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.
Jim Dodds 33 The Glebe NE61 6HW Date: 23 June 2025
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CITY LIFE CHURCH - SUNDERLAND
STATEMENT OF FINANCIAL ACTIVITIES
For the year ended 31 December 2024
| 6 Other trading activities 7 8 Expenditure on: 9 10 Total income Total funds brought forward Net income/(expenditure) and net movement of funds Raising funds Operation of the charity Notes Charitable activities Investments Total funds carried forward Donations and legacies Reconciliation of funds Income from: Total expenditure |
Unrestricted Funds £ 126,770 12,635 19 139,424 1,151 173,641 174,792 ( 35,368 ) 749,049 713,681 |
Restricted Funds £ 25,075 - - 25,075 2,590 24,005 26,595 ( 1,521 ) 11,336 9,815 |
Total 2024 £ 151,845 12,635 19 164,499 3,742 197,646 201,387 ( 36,889 ) 760,385 723,496 |
Total 2023 £ 155,026 16,554 51 171,631 4,939 136,755 141,693 29,937 730,448 760,385 |
|---|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities
The notes on pages 9 to 17 form an integral part of these accounts.
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Charity Number 1052114
CITY LIFE CHURCH - SUNDERLAND
BALANCE SHEET
As at 31 December 2024
----- Start of picture text -----
Total Total
2024 2023
£ £ £ £
Fixed assets
Tangible assets 18 987,418 869,915
Total fixed assets 987,418 869,915
Current assets
Debtors 19 6,134 3,781
Cash at bank and in hand 20 13,546 65,842
Total current assets 19,681 69,623
Creditors: amounts falling due within
one year 21 ( 15,439 ) ( 21,705 )
Net current assets 4,242 47,918
Total assets less current liabilities 991,660 917,833
Creditors: amounts falling due after
more than one year 22 ( 268,164 ) ( 157,448 )
Total net assets or liabilities 723,496 760,385
Funds of the charity
Unrestricted income funds 713,681 749,049
Restricted income funds 9,815 11,336
Total funds 723,496 760,385
Notes
----- End of picture text -----
The notes on pages 9 to 17 form an integral part of these accounts.
These financial statements were approved by the Board on:
and are signed on its behalf by:
Mrs Kerina Clark Chair
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CITY LIFE CHURCH - SUNDERLAND
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2024
1 Accounting Policies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
2 Basis of accounting
2.1 Basis of preparation
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The accounts 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 2019) � Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
City Life Church - Sunderland meets the definition of a public benefit entity under FRS 102.
2.2 Preparation of the accounts on a going concern basis
The financial statements have been prepared on a going concern basis. In making their assessment the Trustees have reviewed and considered relevant information, including their annual budget and future cash flows. The Trustees are of the view that the immediate future of the charity for the next 12 months is secure and that on this basis the charity is a going concern.
3 Income
3.1 Recognition of income
Income is recognised when the charity has entitlement to the resources, any performance conditions attached to the item(s) of income have been met, it is more likely than not that the resources will be received and the monetary value can be measured with sufficient reliability
3.2 Offsetting
There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by FRS102 SORP or FRS102.
3.3 Grants and donations
Income from government and other grants, whether �capital�grants or �revenue�grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Income received in advance of the provision of a specified service is deferred until the criteria of income recognition are met.
3.4 Volunteer help
The value of volunteer help received is not included in the accounts but is described in the trustees' annual report.
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CITY LIFE CHURCH - SUNDERLAND
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024
3.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
3.6 Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.
4 Expenditure and liabilities
4.1 Liability recognition
Liabilities are recognised when it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
4.2 Charitable activities
Expenditure on charitable activities includes the costs of the Ministry and other activities undertaken to further the purposes of the charity and their associated support costs.
4.3 Governance and support costs
Support costs have been allocated between governance cost and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources.
4.4 Irrecoverable VAT
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
4.5 Creditors
The charity has creditors which are measured at settlement amounts less any trade discounts.
4.6 Provisions for liabilities
A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date.
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CITY LIFE CHURCH - SUNDERLAND
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024
- 5 Tangible fixed assets for use
by the charity
Individual fixed assets costing £250 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows:
| Freehold land and buildings Computers and other equipment Fixtures and fittings Capital fees and expenses nalysis of income 6 Donations and legacies General fund Vision fund Impact fund 7 Other trading activities Events Coffee shop 8 Income from investments Toddlers & Play Cafe Offerings Miscellaneous Offerings (gift aid reclaimable) Gift aid Room hire Offerings (gift aid reclaimable) Offerings Offerings Offerings (gift aid reclaimable) Legacy Bank interest |
No depreciation Straight line over three years Straight line over three years Straight line over ten years Unrestricted Restricted Funds Funds £ £ 39,904 - 66,063 - - 8,833 - 13,122 - 3,000 - 120 20,803 - 126,770 25,075 6,240 - 1,655 2,720 - - - 219 - 1,801 - 12,635 - 19 - 19 - |
Total 2024 £ 39,904 66,063 8,833 13,122 3,000 120 20,803 151,845 6,240 1,655 2,720 - 219 1,801 12,635 19 19 |
Total 2023 £ 42,650 66,011 6,947 11,622 5,477 1,339 20,980 155,026 8,618 - 4,781 - 1,229 1,926 16,554 51 51 |
|---|---|---|---|
Analysis of income
Income was £164,499 (2023: £171,631) of which £139,424 was unrestricted or designated (2023: £146,246) and £25,075 was restricted (2023: £25,385)
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CITY LIFE CHURCH - SUNDERLAND
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2024
Analysis of expenditure on charitable activities
| 9 Donations made 10 Operation of the church Salary, pension and NI Ministry costs Stripe/Tithely Fees Room Hire Governance costs Furniture and furnishings Capital costs Accommodation Repairs and maintenance Depreciation / loss on disposal Guest Speakers Legal fees & bank charges Expenses Water rates Children and youth ministry Miscellaneous Management and administration Delivery charges Equipment general Little Treasures/Play Café Cleaning Employers NI Training, Development & Discipleship Independent examiner's fees for reporting on the accounts Conference and seminar expenses Thirty One Eight membership services Light and heat Travel and hospitality Telephone and broadband Production General provisions Subscriptions Music/pa system, equipment and licences Pension costs Ministry expenses Training Salary costs Insurance Printing, postage and stationery Consultancy contracts Mortgage interest Adverts publicity Donations for Mission support Other donations |
Unrestricted Funds £ - 1,151 1,151 51,204 - 4,096 22,352 2,609 47 3,802 - 1,051 7,102 4,507 3,093 951 841 - - - - 595 225 - 3,078 6,934 712 1,163 3,710 1,254 832 600 1,061 6,400 1,038 - 4,490 - 39,194 700 173,641 |
Restricted Funds £ 2,590 - 2,590 - - - - - - - - - - - - - - - - - 17,960 - - 3,189 - - - - - - - - - - - 2,856 - - - - 24,005 |
Total 2024 £ 2,590 1,151 3,742 51,204 - 4,096 22,352 2,609 47 3,802 - 1,051 7,102 4,507 3,093 951 841 - - - 17,960 595 225 3,189 3,078 6,934 712 1,163 3,710 1,254 832 600 1,061 6,400 1,038 2,856 4,490 - 39,194 700 197,646 |
Total 2023 £ 4,765 174 4,939 47,679 - 3,790 21,015 1,159 50 2,950 675 1,393 7,122 3,834 597 1,409 998 - - - 14,596 1,676 141 4,673 1,895 3,956 654 1,400 4,211 1,193 923 825 823 92 - - 6,325 700 136,755 |
|---|---|---|---|---|
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CITY LIFE CHURCH - SUNDERLAND NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024
Analysis of expenditure on charitable activities - continued
Expenditure on charitable activities was £201,387 (2023: £141,693) of which £174,792 was unrestricted or designated (2023: £117,659) and £26,595 was restricted (2023: £24,034)
11 Fees for examination of the accounts
| There were no other fees paid to the examiner (2023: £nil) Independent examiner's fees for reporting on the accounts |
2024 £ 700 700 |
2023 £ 700 700 |
|---|---|---|
12 Analysis of staff costs and the cost of key management personnel
| Employer's pension costs Gross wages, salaries and benefits in kind |
2024 £ 51,204 4,096 55,300 |
2023 £ 47,679 3,790 51,469 |
|---|---|---|
No employee received remuneration above £60,000 (2023: nil)
The key management personnel of the charity, comprise the Trustees and the Senior Minister. The total employee benefits of the key management personnel of the charity were £32,205, (2023: £29,814).
13 Staff numbers
The average monthly head count was 3 staff (2023: 3 staff) and the average monthly number of full-time equivalent employees during the year were as follows:
| Charitable activities The parts of the charity in which the employee's work |
2024 Number 2.2 2.2 |
2023 Number 2.3 2.3 |
|---|---|---|
14 Transactions with Trustees
Two Trustees were paid as employee's of the Charity - Firstly, Mr J. Clarke who is the Senior Minister. No renumeration or benefits were paid for his role as Trustee (2032: £nil). - Secondly, Mrs Kerina Clark t/a Magnify Consulting was paid a total of £8225 (2023:£5,600) for the provision of a strategic and operational review project. (The charity undertook an arm's length process to ensure they chose the best provider, Mrs Kerina Clark was not part of the decision making process).
No other Trustees were paid or received any other benefits from employment with the Charity in the year (2023: £nil) neither were they reimbursed expenses during the year (2023: £nil). There were no other related party transactions.
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CITY LIFE CHURCH - SUNDERLAND NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024
15 Defined contribution pension scheme
The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund.
The employer's pension costs represent contributions payable by the charity to the fund and amount to £4,096 (2023: £3,790). There was £0 outstanding as at 31 December 2024 (2023: £0)
16 Corporation Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives.
17 Donations
| Total value of donations Donation - Financial Support Donation - Foodbank Donation - Gifts Freehold land and 18 Tangible fixed assets building £ Cost Balance brought forward 828,362 Additions - Disposals - Balance carried forward 828,362 Depreciation Basis No Dep'n Rate Balance brought forward - Depreciation charge for year - Disposals - Balance carried forward - Net book value Brought forward 828,362 Carried forward 828,362 Donation - Impact Project Donation - Love Christmas/20 Hampers |
Computer equipment £ 20,049 - 867 19,182 SL 33% 17,162 2,098 667 18,593 2,887 589 |
2024 Total £ 755 - 1,103 1,151 732 3,742 Fixtures and fittings £ 17,312 - - 17,312 SL 33% 14,822 - - 14,822 2,490 2,490 |
2023 Total £ 1,237 - 680 174 2,849 4,939 Capitalised fees and expenses £ 91,492 156,698 - 248,190 SL 10% 55,316 36,896 - 92,212 36,176 155,978 |
Total £ 957,215 156,698 867 1,113,046 87,300 38,994 667 125,627 869,915 987,418 |
|---|---|---|---|---|
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CITY LIFE CHURCH - SUNDERLAND
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2024
19 Debtors and prepayments (receivable within 1 year)
| 20 Cash at bank and in hand 21 22 Other debtors Mortgage Cash at bank and in hand AOG subscriptions Trade creditors Accruals Independent examination of accounts Capital Mortgage Interest free loan from church member Capital Gift Aid recoverable Creditors and accruals (payable within 1 year) Creditors and accruals (payable after more than 1 year) PAYE and social security |
2024 £ 6,134 6,134 2024 £ 13,546 13,546 2024 £ 3,314 3,266 1,930 700 6,229 15,439 2024 £ 258,164 10,000 268,164 |
2023 £ 3,781 3,781 2023 £ 65,842 65,842 2023 £ 2,235 8,314 1,996 700 8,460 21,705 2023 £ 157,448 - 157,448 |
|---|---|---|
There is a mortgage (balance outstanding £264,393) holding a charge over the church building until the last payment due on 25/06/2044
23 Events after the end of the reporting period
No events (not requiring adjustment to the accounts) have occurred after the end of the reporting period but before the accounts are authorised which relate to conditions that arose after the end of the reporting period.
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CITY LIFE CHURCH - SUNDERLAND
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024
24 Analysis of charitable funds
Analysis of movements in unrestricted funds
| Unrestricted funds Building capital fund General unrestricted fund Totals Fixtures, fittings and equipment |
Fund balances brought forward £ 707,091 5,377 36,581 749,049 |
Incoming resources £ - - 139,424 139,424 |
Resources expended £ ( 36,896 ) ( 2,098 ) ( 135,798 ) ( 174,792 ) |
Transfers £ - - - - |
Fund balances carried forward £ 670,195 3,279 40,207 713,681 |
|---|---|---|---|---|---|
Purpose of unrestricted funds
Building capital fund
Fixtures, fittings and equipment fund General unrestricted fund
The building capital fund represents the book value of the property less the amount outstanding on the mortgage.
The fixtures, fittings and the equipment fund represents the amount invested in these fixed assets.
The general unrestricted fund represents the current unrestricted bank balance plus debtors less creditors (not including mortgage payment falling due within 1 year).
Analysis of movement in restricted funds
| Restricted funds Vision fund Impact fund General Support Foodbank Christmas Hampers Totals |
Fund balances brought forward £ 4,369 4,059 1,873 1,036 11,336 |
Incoming resources £ 21,955 1,578 1,542 - 25,075 |
Resources expended £ ( 24,005 ) ( 755 ) ( 1,103 ) ( 732 ) ( 26,595 ) |
Transfers £ - - - - - |
Fund balances carried forward £ 2,318 4,881 2,312 304 9,815 |
|---|---|---|---|---|---|
Purpose of restricted funds
Restricted funds represent income resources used for a specific purpose within the charity as identified by the donor.
Vision fund
The building revenue fund represents cash funds set aside expressly for the purpose of paying the mortgage liability.
Impact fund
General Support
Foodbank Christmas Hampers
The mission fund exists to ensure that all monies donated for the purpose of assisting various Missionaries are so used.
To purchase additional food supplies.
To provide hampers to families in need.
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CITY LIFE CHURCH - SUNDERLAND NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024
25 Capital commitments
As at 31 December 2024, other than the mortgage the charity had no other capital commitments (2023 -£nil)
26 Analysis of net assets between funds
| Other net current assets/(liabilities) Tangible fixed assets Cash at bank and in hand Long term assets/(liabilities) |
Unrestricted Funds £ 987,418 3,731 ( 9,305 ) ( 268,164 ) 713,681 |
Restricted Funds £ - 9,815 - - 9,815 |
Total 2024 £ 987,418 13,546 ( 9,305 ) ( 268,164 ) 723,496 |
Total 2023 £ 869,915 65,842 ( 17,924 ) ( 157,448 ) 760,385 |
|---|---|---|---|---|
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