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 introdu￿d 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 De￿mber 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 con￿mIng 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 re￿iVed remuneration as salary of £4,164.
Trustses. expenses
There were no trustees, expenses paid for the year ended 31 De￿mber 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 De￿mber 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 be￿een 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
reSoU￿S
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
ReSoUr￿S
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 ServI￿S 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