REGISTERED CHARITY NUMBER: 1052168 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FOR GENERATIONS CHURCH LOUTH SMETHURST & Co LLP CHARTERED ACCOUNTANTS
GENERATIONS CHURCH LOUTH CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEl¥lBER 2024 Page Report of the Trustees Independent Examinerfs Report statement of Financial Activities Balance Sheet Notes to the Financial Statements 10 to 16 Detailed Statement of Financial Activities 17
GENERATIONS CHURCH LOUTH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their report with the financial stalements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounls in aGGordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective1 January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims 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 lo time may think fit., 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 the provision of counselling and support in such parts of the Uniled Kingdom or the world as the Church Council from time to time may think fit; lo advance eduction in such ways and in such parts of the United Kingdom or the world as the Church Council from lime to time may Ihink fit. ACHIEVEMENT AND PERFORMANCE Chairfs report 2024 was another great year of growth and evangelism for Generations Church. Our Sunday morning seNices are regularly attended by over 100 worshippers and the midweek program is supported and appreciated by an ever growing number of people, with good representation from all age groups. Our exciting youlh programmes are still very popular, with numbers seeming to grow week on week. These programs manage to seamlessly blend our younger members of the congregation and youlh who do not attend church in an unfoigettable blend of worship. fun. and camaraderie. As always the highlight of the church youth calendar was the annual Bounce Fun Days and Neon Aclivity Days. These wonderful events make il possible for anyone in the area to attend church events in accordance with our beliefs. spend time together having fun and learning as a family while witnessing the love and warmlh of a faith filled event. All of our initiatives continue to be very active. The Unifomi Bank (launched in 2016), continues to distribute complimentary school uniforms. The surrounding community has continued lo help out by donating gently worn school uniform. Thus enabling us to provide assistance to parents who are unable lo purchase new uniforms foi Iheir children. Help is needed all year long. not only at the beginning of the school year, as we continue to help close to 300 families with school uniforms. Families moving to nearby temporary housin9 are now connected to local schools and referred to the uniform bank. Every third Wednesday morning of the month, Generations Loulh hosts a Friendship café that is highly popular with the over 60's. It is a fantastic way to spend time with friends, as well as make new ones. The Friendship Café also provides support and guidance for any issues that may come up. On the first Thursday of each month 'Crowned' brings together women from both campuses to learn and study together. These events ale so well attended Ihat the program is now put on at two separate time5 during the day to allow everyone the best chance of attending and getting the leaching and fellowship ihat they look forward to. As usual our teaching was first class throughout 2024. Various themes introdud throughout the year, including 'ln Transiv where we looked at how God was bringing us to a new place as a church and as individuals. Through the Summer Pastor Jo looked at the letters of St Paul in a series called 'Dear Generations,. She taught how the letters written so long ago were still pertinent to us as a church in the modem world. Our great friend John Peliffor visited loe and brought some outslanding teaching for the whole church which was very well received. We also had a fantastic setV1 and preaching wilh Misheck Manhana. His inspiralion, preaching and evangelism was very encouraging and we are looking fomard to hosting him again, hopefully in 2025. Finally, on behalf of the trustees, I would like lo thank our increasing number of volunteers who work so hard to ensure Ihat our church programmes operate smoothly. We are incredibly grateful for all you and Generations Church. Louth, would not run as well as they do without you. Page 1
GENERATIONS CHURCH LOUTH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 ACHIEVEMENT AND PERFORMANCE Purposes and activities Generations Church exists to: Build the church Generations Church is intentional about building the local church. il has been said Ihal the local church is the hope of the world. This kind of church doesn't just happen, but when people become intentional about it, there are no limits to what can be achieved. How will we do this? As a church, we come together and meet to passionately worship God corporately, believing that He will give us direction as individuals as well as a church. There will be opportunity to grow together through our discipleship and mentorship programmes, being a church where we do all we can to help one another. We want to grow a church where we work together in creating a welcoming atmosphere, encouraging everyone to come and find lifel Equip the people Here at Generations Church we believe in the Bible and we believe in teaching its truth in a relevant way. God's word has principles for us to live by and apply on a daily basis. Our teaching comes through example, inspiration and life stories that have the power to impact people where they are al. We aim lo offer a relaxed environment, giving room for interaction and discussion. We are a family, and need to learn how lo interacl as a family should. Reach the community We believe we live in a greal town and community and as a church, our heart is to serve that community in any way we can. Our programmes are created with service in mind and we take people just as they are, believing God will do the rest. We count it an honour and privilege to serve our town. We love where God has placed us and believe we are here to make a difference. In the days in which we live, Ihe Church has to become a practical resource for the community in which it stands. Our aim is always to see a need and do all we can lo help in meeting that need. Empower the future Generations Church has a great futurel We passionately believe this. The decisions we make loday will take us into the future God has for us, each individual has a unique purpose and it is our desire to help each person tap into that plan and live it. In everything we do we wanl to provide for our future. Whether that is with our building plans or in our discipleship and community programmes. We want to equip future generations to carry on what we are currently doing, and achieving more than we are currently seeing. Building progress 2024 was not a major year for building renovation as in the Past couple of years, however we did complete some work that we have wanted to do for a long time. We were finally able to remove the buddleia from the root at the front of the building and repair the mortar so that water couldn't leak into the main hall. As we55 as that we also rerouted the wall at the back of the building. We also had the Iloor in the boiler room concreted at last! This makes the room useable now and less dangerous when we need lo acGe6S that room. It gives us a greal Spa for any community projects that we might want lo run in the future. Page 2
GENERATIONS CHURCH LOUTH REPORT OF THE TRUSTEES R THE YEAR ENDED 31 DECEMBER 2024 ACHIEVEMENT AND PERFORMANCE Programmes Our Neon toddler group is still growing and although we losl some families as their Children went to school we also gained a lot more in September as the new academic year began. The team led by Diane Cartwright are doing a fantastic job and one of the highlights in the month is our Neon Toddler Big Breakfast. This is where families can come and sit and have a breakfast provided by our team, they can chat, play, craft together. The atmosphere is amazing and the families from our local town who attend appreciate all the hard work the team put in every single week. We have also seen a number of our toddler Parents access other programmes that we run with older children in our youth programmes and a number of them attending Church on Sundays. Our Sunday children's programme continues to thrive with more children attending every week it seems. It has been exciting to see the longevity of care that is given to families in Generations church and this is seen especially as we watch our children move up through our programmes. This year we saw our team rise also as in the month of May and November the team led the programme with our Children's pastor taking on other responsibilities. It is so good to watch the team create and execute an incredible programme which they have written. It shows the strength of local church where Iwo of our most senior leaders who are now in their twenties have attended our toddler group, then kids programme, youth programme and now lead in a number of different settings wilhin our church. Our midweek gathering 'Equip' has conlinued to grow and evolve this year wilh a number attending from both our Louth and Grimsby campuses. The programme changed September to a more structured monthly programme. Week l is our BUILD night. This evening focuses on leadership development. If we are going to continue to influence communities in Louth and beyond we will need to raise leaders. This evening helps any person in Generations church connect with developing Iheir leadership skills in any sphere whether that be home, work or church life. Week 2 is a time where we dive deeper into the bible and take themes we may have touched on Sundays and teach a bit deeper on those topics. Week 3 is small groups but with a difference. These small groups are focused groups on different things including, prayer, craft, Coffee and chats or learning a musica5 instrumenl. Week 4 is a prayer and worship evening and these have been a very popular evening wilh our church with many attending. If there is a 5th Wednesday we are using these as team night's where we get to celebrate all that is happening, honour our volunleers and this year had Ps Jenny Gilpin from Australia come and encourage our team. 2024 again saw growth in the 'Uniform Bank,, which runs very much like a food bank bul with school uniforms. We have been inundated with donations, both from individuals and school lost property boxes. We have a team who will collect, de-name. wash and iron all donations and then they are hung up in a room al Cannon Street ready for families to come and get up to fvjo sets of uniform per child. If we have a large amount of one particular item of clothing then more can be given. We have seen people ovetwhelmed with the cost of uniform find help and the relief on their faces is visible. We have a donation box which is completely voluntary bul sometimes people want to give a bit back, alternatively they can come and swap uniforms so they feel like they are contributing in some way. With the uniform bank now being located right at the front of our building it is easily seen and is accessible for everyone. We are really proud of this project which has helped hundreds of families during 2024. Volunteers Generations Church continues to have a strong volunteer base, which is growing year on year. We slill have over 50 active volunteers, and some of them are involved in helping to run a multiple of programme8 and events on a weekly basis. In February 2024 at our AGM we set Dut the vision of transitioning some of our leaders into new roles. Also it would mean brtnging some more onto a paid staff position. We thanked James and Diane Cartwright for all of their voluntary work are the years and set out a plan to begin to pay them part time to continue all that they are doing especially in Grimsby. There was a special gift day offering which has helped us to pay them in the first 12 months. We also set out the plan to Iransilion Liz Hilton inlo the role of campus Pastor in Loulh, when she has finished her MIT (Minister in Training) course with AOG in May 2025. This will release Jo Read to work across our campuses and sel out vision for the next phase of Generations Church. We also shared the next phase of our youth ministry and the appointment of Billy Walker into the role of our youth Pastor hopefully in March 2025. All of the vision set out was met with excitement from all who attended which was in record numbers in 2024. There was a standing ovation for Liz Hilton showing now well-loved she is by everyone at Generations. On behalf of the trustees, we want to thank all those who give their time to volunteer. We could not continue without them and we are so proud to be building a church where its partners have a heart to serve and to build a strong church. Influence Page 3
GENERATIONS CHURCH LOUTH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 ACHIEVEMENT AND PERFORMANCE In 2024 the influence of Generations continued to grow. Pastor Jo Read continued her role on the area team for Assemblies of God GB (AOG} which involves meeting with other church leaders and making sure things are workin9 well on behalf of AOG. She is overseeing churches in Lincolnshire and North Nottinghamshire. Also this year Churches together in Louth began again with the church leaders meeting together to see what influence we could bring together to our town. Pastor Jo has been at the forefront of this and as a church we have laker pat in a number of adivilies in 2024 including giving out hot ross buns at Easter. running an All Saints praise event in ST James Church and opening the Christmas market in the town. We realise that although we are all different in our expréggion of Church wé all carry thè g8m8 message and can have a wider impact when we work together. Our Worship Director Paul Hillon ran another Empower weekend Which was a great lime of teaching, inspiration and time to be together as a worship team. 2025 we are planning on bringing back Noel Robinson for this event. Our influence in the schools and with the young people in our community continues to grow. Our youth team regularly sees over 50 young people on a Friday night and they come for evenings full of fun, games, music, discussion. food the list just goes on. Our team works so hard lo give the young people in our community a space that is safe and a great environment lo come and see their friends. The team is slronger than ever and we are seeing our young people rise up more and more to run things under the supervision of our Youth Pastor Liz, and our Assistant Youth Pastor Billy. In FebrLsary 2024 we launched 'unleashed' which was instead of our mission week in April. It was a youth camp at home for our youth. During the weekend there were activities. seminars, worship events and on the Sunday morning our youth took the whole morning service and it was brilliant. We love seeing all our youth generation can do, and this weekend will definitely be one we will repeat in 2025. Again we took a large group of young people on a residential trip in summer at Ceafn Lea in Mid Wale5 called Thrive,. They loved it and all came back with stories of all they got up lo and our leaders loved meeting wilh other leaders from differenl youth groups around the country which has seen our team influenced greally as well as giving their expertise to help other leaders in their roles. Liz Hilton has taken a leadership role in this camp which has increased our influence as a local Ghurch. Also Billy and Dan have taken on responsibility within Thrive and both stay on for the camp after our youth leave and the next wave of young people make their way there. Liz has also become a year 3 leader on AOG'S young lions programme which is a weekend designed to train up young leaders between the ages of 15 and 21. Billy and Jack are also coaches and as a church we send as many young people as we can on this programme. Our boun day in Louth happened again in September 2024 and again we saw hundreds from our community attend despite the weatherl There were inflatables, ice creams, face painting, and lols of chatter and getting to know our community. Our uniform bank was present which was great for our communilies. Pastoral Support This year our team conlinues to care for those in our community brilliantly well. Mark and Jane Egan continue to do a great job in caring for our older generation with a monthly café and trips out at different points of the year. Also this year as our Wednesday programmes have changed we have brought back the small group for our older generation which Ihey all love. James and Diane have handed over our 18-30's age group to Abbie Baldock, Ihere is Still lots of social evenings building relationships and caring for them. Our family gathering every olher week calers for over 70 people. Once a month we do a family seNice where we are all together and we get all ages involved and the other week we run a kids craft group. a youth hang oul and a parents group. Every lime we get together we all eat a meal together and special thank5 goes to Ali Williams 2nd our other volunteers for preparing and seNing that for so many. PubliG Benefit We have referred to the guidance contained in the Charity Commission's general guidance on public benefit and complied with section 17{5) of the 2011 Charities act when reviewing our aims and objectives and in planning our future activities. In particular, the Trustees consider how planned aclivities will contribute to the aims and objectives they have set. FINANCIAL REVIEW Reserves policy The trustees have reviewed the charitls needs for reserves in line with the guidance offered by the charity's mortgagor and aim to set aside a minimum of £13,050. This Sum approximates to three months fixed running costs. This is deemed sufficient 85 income is received on a weekly basis and is regularly monitored. The trustees believe that resetves at this level should ensure the charity can run efficiently and meet the needs of the beneficiaries. Page 4
GENERATIONS CHURCH LOUTH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 PLANS FOR THE FUTURE 2025 is shaping up lo be a big year for us. There is all the planning about progressing leaders into new roles and creating space to dream of what Generations church wi51 look like beyond 2025. New opportunities to influence new communities as we allow our team to be released into new things so that we can continue to expand and grow. It's great to see in a relalively small geographical location, a huge impact can be made by the local church. STRUCTURE, GOVERNANCE AND MANAGEMENT Goveming document The charity is an unincorporated entity which is govemed by Trust Deed dated 30 November, 1993 as amended 11 September, 2008. The function of the charily is maintained by the Church Council and deacons who comprise Holding Trustees and other members ofthe church. Recruitment and appointment of new trustees Trustees are appointed by the Church Council in accordance with the Trust Deed. The charity seeks to identify those considered suitable to provide a balance of skills and strength. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1052168 Principal address Cannon Street House Cannon Street LOUTH LN119NL Trustees Mr. R. Hardwick Mr P. Yarsley Mrs. J. Read Mr B. Parkinson Mrs J. Parkinson Mrs C Isherwood Mr. M Egan Mrs E Hilton Mr J Cartwright Independent Examiner C. M. Tams F.C.A. Smethursl & Co LLP 12 Abbey Road GRIMSBY DN32 OHL Bankers Lloyds Bank plG 24 Mercer Row LOUTH LN119JQ STATEMENT OF TRUSTEES, RESPONSIBILITIES The Irustees are responsible for preparing the Report of the Trustees and the financial slalements in accordance with applicable law and United Kingdom Accounting Standards (Uniled Kingdom Generally Accepted Accounting Practice). Page 5
GENERATIONS CHURCH LOUTH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 STATEMENT OF TRUSTEES, RESPONSIBILITIES - continued The law applicable lo charities in England and Wales. the Charities Acl 2011. Charity {Accounts and Reports} Regulations 2008 and the provisions of the trusl deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charify for that period. In preparing those financial statements. the trustees are required to select suitable accounting policies and then apply them congistently., observe the methods and principles in the Charity SORP., make judgements and estimates thal are reasonable and prudent., prepare the financial slalements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure Ihat the financial statements comply with Ihe Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hen for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved b order oft e board of trustees on 23 April 2025 and signed on ils behalf by.. Mrs C Isherwood - Trustee Page 6
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GENERATIONS CHURCH LOUTH Independent examinerfs report to the trustees of Generations Church Louth report to the charity trustees on my examination of the accounts of Generations Church Louth (the Trusl) for the year ended 31 Dember 2024. Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {'Ihe Act,). I report in respect of my examination of the Trust's accounls carried oul under Section 145 of the Act and in carrying out my examination I have followed 211 applicable Directions given by the Charity Commission under Séction 145{5)(b) of the Act. Independent examinerfs statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe Ihat in any material respect.. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or the accounts do not arxord with those records- or the accounts do nol comply with the applicable requirements conmIng the form and contenl of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. 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 lo enable a proper understanding of the accounts to be reached. C. M. Tams F.C.A. Smelhurst & Co LLP 12 Abbey Road GRIMSBY DN32 OHL 25 April 2025 Page 7
GENERATIONS CHURCH LOUTH STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 31.12.24 Total funds 31.12.23 Total funds Unrestricted fvnd Restricled funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 146,476 4.180 150,656 133.789 Other trading activities Investment income 5,115 2g4 5,115 294 5.340 Total 151,885 4,180 156,065 139,129 EXPENDITURE ON Charitable activities Core Projects 158,705 4,050 162,755 141,352 NET INCOMEI(EXPENDITURE) (6,820) 130 {6,690} 12,223) RECONCILIATION OF FUNDS Total funds brought foNard 478.321 478,321 480,544 TOTAL FUNDS CARRIED FORWARD 471,501 130 471,631 478,321 The notes form part of these financial statements Page 8
GENERATIONS CHURCH LOUTH BALANCE SHEET 31 DECEMBER 2024 31.12.24 Total funds 31.12.23 Total funds Unrestricted fund Restricted funds Notes FIXED ASSETS Tangible assets 707,059 707,059 708,829 CURRENT ASSETS Stocks Debtors Cash at bank and in hand 10 8,978 3.225 34.417 8,978 3,225 34,547 8,594 2,959 39,761 130 46,620 130 46,750 51.314 CREDITORS Amounts falling due within one year 12 (10,6541 (10,654) {6,934) NET CURRENT ASSETS 35,966 130 36,096 44,380 TOTAL ASSETS LESS CURRENT LIABILITIES 743,025 130 743,155 753,209 CREDITORS Amounts falling due after more than one year 13 (271,524) (271,524) (274.888) NET ASSETS 471,501 130 471,631 478,321 FUNDS Unreslricled funds Restricted funds 15 471,501 130 478,321 TOTAL FUNDS 471,631 478,321 The financial statements were approved by the Board of Truslees and aulhorised for issue on 23 April 2025 and were signed on its behalf by.. Mrs C Isherwood - Trustee The notes form part ofthese financial statements Page 9
GENERATIONS CHURCH LOUTH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES Basis of preparing the financial ststements Except as disclosed below, the financial statements of the Charity. which is a public benefit enlity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 102) 'Accountino and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in ac¢ordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 20191,, Financial Reportin9 Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. The charity has departed from the Charities SORP and FRS 102 in order to depreciale all freehold property at a rate of 2% on a straight line basis. The treatment required by the Charities SORP and FRS 102 where an asset comprises of two or more major components is that each componenl should be depreciated separately over its useful life and that the value of land is not depreciated. The Irustees consider that depreciating all freehold property at a rate of 2¥0 on a straight line basis reflects the loss of value of Ihe asset for Ihe charity, and have concluded that the accounls presenl a true and fair view. Income All income is recognised in the Statement of Financial Activities once the charity has entillement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expendilure as soon as there is a legal or constructive obligation committing the charity lo that expendilure, it is probable Ihat a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings Ihat aggregale all cost related lo Ihe category. Where costs cannot be directly altribuled to particular headings Ihey have been allocated to activities on a basis consistent with the use of resources. Grants offered subject lo conditions which have not been mel at the year end dale are noted as a commitment but not accrued as expenditure. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold property Fixtures and fittings 2 % Slraighl Line 20 % Straight Line The charity has a policy to capitalise assets in excess of £250. Uniform stock Uniform stock donated for distribution by the Unifom Bank is valued at eslimaled market value, with the corresponding income recognised within donations. When uniform stock is dislributed this is recognised as an expense. Taxation The charity is exempt from tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charilable objectives at the discretion of the truslees. Restrlcted fun(Js can only be used for particular restricted purposes within the objects of the charily. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to Ihe financial slatements. Pension costs and other post-retirement benefits The charity operates a defined contribution pension stheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Page 10
GENERATIONS CHURCH LOUTH NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 OTHER TRADING ACTIVITIES 31.12.24 31.12.23 Rental income 5,115 5,340 INVESTMENT INCOME 31.12.24 31.12.23 Deposit account interest 294 GRANTS PAYABLE 31.12.24 31.12.23 Core Projects 2,960 3,320 The total grants paid to institutions during the year was as follows.. 31.12.24 31.12.23 Assemblies of God Christians Against Poverty One by One 2,780 180 2.900 220 200 2.960 3,320 TRUSTEES. REMUNERATION AND BENEFITS 31.12.24 31.12.23 Trustees, salaries Trustees, pension conlributions to money purchase schemes 47,689 931 40,253 833 48,620 41,086 During the year the following remuneration was paid to the lead pastor Mrs. J. Read, a trustee who is also considered to be the paid key management, and to Mrs. E. Hilton and Mr. J. Cartwright, who are also trustees.. Tnjstees, pension conlribution Trustees, salaries Tolal Mrs. J. Read Mrs. E. Hilton Mr. J. Cartwright 29,300 14,225 4,164 691 240 29,991 14,465 4,164 Total 31.12.24 47,689 931 48,620 Total 31.12.23 40,253 833 41,086 Mrs. D. Cartwright the wife of the truslee Mr. J. Cartwright reiVed remuneration as salary of £4,164. Trustses. expenses There were no trustees, expenses paid for the year ended 31 Dember 2024 nor for the year ended 31 December 2023. Page11
GENERATIONS CHURCH LOUTH NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 STAFF COSTS The average monthly number of employees during the year was as follows: 31.12.24 31.12.23 Core No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund Restricted funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 132,189 1,600 133,789 other Irading activities 5,340 5,340 Total 137,529 1,600 139,129 EXPENDITURE ON Charitable activities Core Projects 139.930 1,422 141,352 NET INCOMEIIEXPENDITURE) Transfers between funds (2,401) 822 178 (822) 12,223) Net movement in funds {1,579) (644) (2,223) RECONCILIATION OF FUNDS Tolal funds brought forward 479,900 644 480,544 TOTAL FUNDS CARRIED FORWARD 478,321 478,321 UNIFORM BANK DONATIONS The value of uniform bank donations included within Gifts and Donations was £5,452 (2023.. £3,877}. The value of uniform bank distributions included within Youth Project Costs was £5,565 (2023: £3,059). Uniform bank stock at the year end was valued at £8,978 {2023'. £8,594). Page 12
GENERATIONS CHURCH LOUTH NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 TANGIBLE FIXED ASSETS Fixtures and fittings Freehold property Tolals COST At 1 January 2024 Additions 1,033,385 20,907 46,020 1,442 1,079,405 22,34g At 31 December 2024 1,054,292 47,462 1,101,754 DEPRECSATION At 1 January 2024 Charge for year 333,357 21,086 37,219 3,033 370,576 24,119 At 31 Dember 2024 354,443 40,252 394,695 NET BOOK VALUE Al 31 December 2024 699.849 7.210 707.059 At 31 December 2023 700,028 8,801 708,829 10. STOCKS 31.12.24 31.12.23 Stocks 8,978 8.594 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.24 31.12.23 other deblors 3,225 2,959 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.24 31.12.23 Bank loans and overdrafts (see note 14) Other creditors 3,328 7,326 3,117 3,817 10,654 6,934 Page 13
GENERATIONS CHURCH LOUTH NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.12.24 31.12.23 Bank loans (see note 141 271,524 274,888 14. LOANS An analysis ofthe maturity of loans is given below.. 31.12.24 31.12.23 Amounls falling due within one year on demand.. Bank loans 3,328 3.117 Amounts falling beeen one and two years.. Bank loans- 1-2 years 3,552 3,328 Amounts falling due between two and five years.. Bank loans - 2-5 years 12,161 11,392 Amounts falling due in more than five years.. Repayable by instalments.. Bank loans more 5 yr by instal 255,811 260.168 15. MOVEMENT IN FUNDS Net movement in funds Al 31.12.24 At1.1.24 Unrestrictsd funds General fund 478,321 {6,820) 471,501 Restricted funds Designated giving 130 130 TOTAL FUNDS 478,321 {6,690) 471,631 Net movement in funds, included in the above are as follows.. Incoming reSoUS Resources expended Movement in funds Unrestricted funds General fund 151,885 (158,705) (6,8201 Restricted funds Designated giving 4.180 (4,050) 130 TOTAL FUNDS 156,065 {162,755} {6,690) Page 14
GENERATIONS CHURCH LOUTH NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 15. MOVEMENT IN FUNDS - continued Comparatives for movement in funds Net Transfers belween funds movement in funds At 31.12.23 A11.1.23 Unrestricted funds General fund 479.900 (2,401) 822 478,321 Restricted funds Designated giving 178 (822) TOTAL FUNDS 480,544 (2,223) 478,321 Comparative net movèment in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted fundg General fund 137,529 {139,930) (2,401) Restricted funds Designated giving 1,600 (1,422) 178 TOTAL FUNDS 139,129 {141,352) {2,223) A current year 12 months and prior year 12 monlhs combined position is as follows: Net movement in funds Transfers between funds At 31.12.24 At1.1.23 Unrestricted funds General fund 479,900 (9,221) 822 471,501 Restrfcted fund5 Designaled giving 644 308 (822) 130 TOTAL FUNDS 480,544 (8.913) 471,631 Page 15
GENERATIONS CHURCH LOUTH NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 15. MOVEMENT IN FUNDS - continued A current year 12 months and prior year 12 months combined net movement in funds, induded in the above are as follows.. Incoming resources ReSoUrS expended Movement in funds Unrestricted funds General fund 289,414 1298,635) 19.221) Restricted funds Designated giving 5,780 (5,472) 308 TOTAL FUNDS 295,194 (304,107) (8,913) Amounts included in the designated giving fund are donations and grants received for specific purposes including amounts for school lunches, youth activities and a warm spaces provision. 16. RELATED PARTY DISCLOSURES Total amounts donated to the charity by its trustees during the year amounled to £40,012 (2023 - £45,442). Allocated parking spaces were provided free of charge to five of the trustees during the year for their use when providing their ServIS in the church building. The value of a parking Spa was £400 per year. An office in the church building was used by a trustee for their counselling seNices. No rent was charged for the use of the church building. The value of Ihe office was £600, the trustee offered discounted coun5elling setvices to members of the church in lieu of the rent. Page 16
GENERATIONS CHURCH LOUTH DETAILED STATEMENT OF FINANCIAL ACTIVITIE FOR THE YEAR ENDED 31 DECEMBER 2024 31.12.24 31.12.23 INCOME AND ENDOWMENTS Donations and legacies Gifts and donations Grants 147,706 2,950 132.189 1,600 150,656 133,789 Other trading activities Rental income 5.115 5,340 Investment income Deposit account interest 294 Total incoming resources 156,065 139,129 EXPENDITURE Charitable activities Trustees, salaries Trustees, pension contributions Wages Youth project costs Establishmenl costs Ministry expenses Conference expenses Subscriptions Depreciation of tangible fixed assets Mortgage interest Mortgage fees Grants lo institutions 47,689 931 8.120 23,539 27,198 4,495 1,436 2.927 24,119 18,081 40.253 833 2,212 13.309 25.412 2,941 596 2,978 23,570 18,862 2,785 3,320 2,960 161.495 137,071 Support costs Governance Costs Independent examination Payroll services Legal and professional fees 1,284 960 264 3,057 {24) 1,260 4,281 Total resources expended 162,755 141,352 Net expenditure {6,690) (2,223) This page does not form part of the statutory financial slatements Page 17