Lea Valley Church Report and Accounts Year ended 31 December 2024 Stewardshlp Aetlvegenerosity 1 Lamb'$ Pa888ge, London ECIY 8AB WWW.5t8wardshlp.org.uk
LEA VALLEY CHURCH CHARITY INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2024 Trustsos Geoff Ace Timothy Gutmann lan Liddl8 Denise Fitch Mark Jones (appointed 10 May 2024) Key Management (In addltlon to Trustee8) Tanith Ace Hayley Gutmann Holdlng Trustaas Denise Fitch Davld LavKence Gov•mlng Document Deed of Tru8t dated 16 January 1997. as amended by adoption of a new Mod81 As88mbly of God Deed on 8 October 2009 Charlty R•glstratlon Number 1054351 Prlnclpal Addross Lea Valley Church Monkswood Avenue Waltham Avenue Essex EN9 1LB Independent Examlner Sarah Crispln ACA Stewardship 1 Lamb'5 Passage London EC1Y8AB Bankers HSBC plc Contents Charlty Informatlon Trustees, Annual Report Independent Examinerfs Report ststement of Financial Activitie5 Balance Sheet Notes to the Accounts Detailed Ststement of Financial Activities with Comparatives Pag• 2-6 10-18 19 Page 1
LEAVALLEY CHURCH TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their réport with the financlal statements of the ch8rlty for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charitles: Statement of Recommended Practice appllcable to charltles preparlng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 2019). OBJECTIVES AND ACTMTIES Publlc beneflt The Lea Valley Church exlsts to bulld a communlty of Christian believers who wlll impact Waltharn Abbey. the Lea Valley region, London, the natlon and the world beyond (Acts 1.'8). When plannlng our actlvlties for the year and the servlces on offer to the local communlty, the Trustees have consldered the Charity Commlssion's guidance on publlc ben8fit and, In partlcular, the speclflc guldance on chariti88 for the advancement of religlon. In partlcular. try to encour8ge ordinary people to live out thelr faith in every area of their lives as part of the Lea Valley Church communlty and the wider communlty. We also try to encourage people wlthin the local communlty to flnd falth through attending our meetings and 8st8blishing friendships. Many wlthin our church community have found spiritU81. emotional and physical healing and we are keen that others in the local comrnunity receive the Same benefits. The great majority of the charitys meetings and 8v8nts ar8 OP8n to the public. Indeed, It is a key 8im of the charity to attract newcomers into the various activitles of the church so that they can partlcipat8 in and b8n8fit from all that the church has to offer. The charity values the dlver8ity currently evldenced by the church membership and the wlder community of those who int8r8Ct dlrectly with the church, and the charlty Is hopeful of seelng the dlvars8 demographic of Wallham Abb8y and the Lea Valley Region fully reflected in th8 church. Volunteers The church councll and the holdlng trustees realise the huge amount of tlme glven by volunteers to help the church run. The Ilnanci81 accounts cannot truly show the level of gifts in temis of time rather than money that thes8 hours represent. However. they greatly acknowledge all the Vrk volunteers contrlbute and would Ilke to thank 811 of them. Page 2
LEA VALLEY CHURCH TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 ACHIEVEMENTS AND PERFORMANCE Charltable actlvltles Lea Valley Church continues to support the ministy Christian Action Against Antisemitism (CAAA). This ministry continues to be run by Pastors Tim and Hayley Gutmann. Lea Valley Church continues to offer community-based art group meetings and 'Community Cuppa, or weekly coffee momlng, which Is popular with the lonely and older people wlthln our community. Addltionally. we continued to host a weekly meetlng of AA. we conlinue our programme of falth-based events, including running an Alpha Course, disclpleship and Bible courses, and weekly Ilfe groups. FINANCIAL REVIEW Flnanclal posltlon The attached flnancial statements 8umm8ri88 the Sncomlng and outgolng resource8 for the year together wlth the Balance Sheet as at 315t December 2024. Total Income ha5 Increased from £185,832 to £193,646. Total expendlture decreased from £190,528 to £190,173, resulting in an accountlng surplu5 of £3,473. The church has honoured all financial obligations and we ar8 v8ry grateful to every giver who ha5 supported Lea Valley Church in vthat continu88 to be a challenging financial season. Going forward5 Into 2025, increasing mortgage and energy costs in particular will need to be accommodal8d, but we trust that God wlll continue to provide and to build His Church In our locale of which we are a part. The non-pald trustees met and conculded that a 50A pay Increase 8hould b8 awarded to all paid employees. Thls was in recognition of the cost of Ilvlng increases that everyone has 8xperl8nced, along with no salary increases in the past 4 years. Investm•nt pollcy and obJectlv•s We do not specifically glve grants to individuals or Invest church funds in shares, Stocks or money- maklng schemes. Ro$erv•s pollcy The trustees and church councll have agreed that it vrfould be prudent to have three months, worklng capital available. We continue to work towards this. other reserves are held in property which is used for the charitable objectives of the church. Page 3
LEA VALLEY CHURCH TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 FUTURE PLANS Lea Valléy Church contlnues to chang8 and to grow- and we have been pl8as8d to welcom8 many newcomers into our congregation. The church will continue to require the help and commitment of many volunteers to make it a success, but we know that this is 8xactly what God has planned for us and we ar8 grateful for the continuing positlve impact the church has on Waltham Abbey. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng docum•nt The charlty Is controlled by its govemlng document, a deed of trust and constitutes an unlncorporated charlty. In late 2009 we updated our organlsational structure to the New Model Deed for Local Assemblies of God In Great Brltaln and Ireland. Recrultment and appolntm•nt of new trustees Four members of the Church Counc51 are also the Trustee8 of the Charity and th8y are appointed in line with the process set out in the AOG Model Deed. Holding Trustees are appointed by the Church Councll and the Chaimian of the Church Council has the casting vote rf required. although In all clrcum8tances to date the appoSntrnents have all been unanimou8. Trustees and Holding Trustees are offered training as requlred. Page 4
LEA VALLEY CHURCH TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 STRUCTURE. GOVERNANCE AND MANAGEMENT (contlnued) Wlder network The church is affiliat8d to the Assemblies of God (AOGUK) and Timothy and Hayley Gutrnann (Senior Pastors) and Geoffrey Ace (Associate Pastor) are recognised and ordained ministers with the Assemblies of God UK. The church Is also a member of the Evangellcal Alliance. Related partles The church employees are: Timothy and Hayley Gutmann as Senior Pastors and Geoffrey and Tanlth Ac8 as Associate Pastors. All pastors ar8 part-time at present and currently they are the only paid employees. Rlsk management The church H&S risk 888essment was updated durSng 2016 Identlfylng posslble r18k8 and assoclated Controls to reduce those rlsks. The rlsk assessment is regularly updated as appropriate, and all Government guldance and suggested controls have always been adopted. Spedfically, protection of Ihe children in our care is paramount and thls will never knowlngly be compromised. It should be noted that It is the policy of thls church to adhere to our Children's Protection Policy Document which we wlll enforce if clrcumstances require. A copy is available for perusal If requlred. Page 5
LEAVALLEY CHURCH TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 RESPONSIBILinES OF TRUSTEES UNDER CHARITY LAW The trustees are responsible for preparing the trustees, annual r8POrt and the financial statements in accordance with applicable law and United Kingdom Accountlng Standards {Unit8d Kingdom Generally Accepted Accountlng Practice). Charlty law requlres the trustees to prepare finandal statements for each financial year which glve true and fair view of the state of the affairs of the charity as at the balance Sheet date and of its Incoming resources and applicatlon of resources, including income and expenditure. for the financial year. In preparing Ihese financial slatements. the trustees are required to.. 1. select sultsble accounting pollcles and apply them conslstently, 2. observe the methods and principles In the Charltles SORP., 3. make judgem8nts and estlmates that are reasonable and prudent. 4. slat8 whether the applicable accountlng standards have been followed, subject to any mat8rlal departures disclosed and explain8d in the financlal statem8nt8', and S. prepare th8 financS8l statements on a going concem basis unless it is inappropriate to presume that the charlty will continue in operation. The trustees are r8sponslble for keeplng proper accountlng records that dlsclose wlth reasonable accuracy 8t any tlme the flnand81 posltlon of the charlty and enable them to ensure that the financS81 Statements comply with the CharltSes Act 2011 and the Charlty (Accounts and Reports) Regulations 2008. They are also responslble for safeguarding the assets of the charlty and hence for tsking reasonable steps for the preventlon and detection of fraud and other Irregularltles. APPROVAL This report was approved y the trustees and signed on thelr behalf by: RUSTEE) Date: Page 6
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LEA VALLEY CHURCH {'the Charlty) I report to the charity trustee5 on my examination of the accounts of the Chaty for the year ended 31 December 2024 on pages 8 to 19 following. which have béen pr8par8d on the basis of the accounting pollcies set out on pages 10 to 12. Responslbllltles and basls of report As the charity's trustees of the Trust you are rnsponsible for the preparation of the accounts in accordance wlth the requirements of the Charities Act 2011 ('the Act'l. I report In respect of my examlnatlon of the Charity's accounts carrled out under sectlon 145 of th8 Act and in carying out my examination I have followed all the appllcable Dlr8cUons glven by the Charity Commission under section 145(5)(b) of the Act. Independent examlnor's statement I have completed my examinatlon. I confirm that no matters have come to rny attentlon In connectlon wlth the examlnatlon giving me caus8 to belleve: 1. accountlng records were not kept in respect of the Char5ty as required by sectlon 130 of the Act,. or 2. the accounts do not accord with those records: or 3. the accounts do not comply with the appllcable requlrements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fal¢ view vthich Is not a matter consld6red as part of an Independent examlnation. I have no concerns and have come across no other matters In connection wlth the examination to which attention should be drawn in thi8 report in order to enable 8 proper understanding of the accounts to be reached, Sarah Crlspin ACA Stewardshlp 1 Lamb's Passage London EC1Y 8AB Date.. Page 7
LEA VALLEY CHURCH STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Total Funds 2024 Totsl Funds 2023 Unrè8trlct8d Funds Reslrlcted Funds Note INCOME AND ENDOWMENTS FROM: Donations and legacle8 Chadlable aclivitie8 Investments 184,338 9.150 193,488 184,130 1,702 158 158 Total In¢om• and •ndowment• 184,496 9,150 193,646 185.832 EXPENDITURE ON: Charilable activities 134,230 55,943 190,173 190,526 Totsl •xp•ndlturn 134,230 55,943 190,173 190 526 N•t Incomel(expondlture) 50,265 (46,7931 3,473 (4,694) Tran•f•rn botween fund• 16 {60,8511 60,851 Net mov•m•nt In fund• {10,5851 14,058 3,473 (4,694) R•eonclll•llon ol funds: Total funds brought forward 64,466 711,207 775,673 780,368 Total funds carrl•d forward 16 53.881 725,265 779,146 775,673 The Statement of financlal activlties Includes all galns 8nd108888 recognised in the year. All Income and expandlture derfva from continuing operations. The not88 on pages 10-18 forni part of th8se accounts. Page 8
LEA VALLEY CHURCH BALANCE SHEET AS AT 31 DECEMBER 2024 Total Funds 2024 Total Funds 2023 Unreslricted Fund$ Restricted Funds Note FIXED ASSET8 Tanglble ass8t5 19.003 1,128,776 1,128,776 1,147,779 1,147,779 1.154,423 1.154,423 19,003 CURRENT ASSETS Debtors Cash at bank and In hand 10 14,546 23,359 353 4,947 14,899 28,305 15,224 34,265 37,905 5,299 43,204 49.489 CREDITOR8: Amounts falllng due wlthln one y•ar 12 13.026) 118,0081 121,034) (18,958) N•t curr•nt a•80ts I Illablllll•s) 34,879 {12,7091 22,170 30,531 Totsl o•Mts1•88 eurr•nt Ilabllltle• 53,881 1.116,068 1.169,949 1,184,955 CREDITORS: knounl• folllng du• aft•r mor• than on• y•ar 13 1390,803) (390,803) 1409,2811 TOTAL NET ASSEf8 53,881 725,265 779 146 775,673 FUND BALANCE8 Unr8strlct8d Funds General fundg 16 53,881 53,881 84,466 R68trlctèd Fund8 725,265 725.265 725,265 779,146 711.207 775.673 53,881 The financlal 8tstement8 ere approved by Ihe Board of Trustee8 and were signed on It8 bohalf by: Date.. Chaty number.. 1054351 The notes on pages 10-18 fom part of these accounts. P8ge 9
LEAVALLEY CHURCH NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 310EceMBeR 2024 statutory Inforniatlon The charlty18 a trust r8glstered th the Charfty Commlssion in EnglarKI & W8les. The charltys reglstered number and prfndpal address can be found on th• Charity InfoTrnalSoA pag•. Accountlng Poll¢leB The8e flnancial statèmants ar8 prepared on a golng concem ba816, under thè hl¥tortcal cost conV•non. These flnandal stst8rnent8 have been prapared In accordance wlth thè 'Ststement of Recomrnended Pracllc&'. AccounJng and Reporting by Ch8rftl8s preparing tholr accounts In accordanc8 th th8 FlnAnclal Reporfng Standard applicable in the UK and Republic of lieland IFRS 1021 I'the ChariUe3 SORV). th the Financial Reporting Standard appllcable in the United Kingdom and Rapublic of Ireland l FRS 102.1 and with the ChariJ•s Act 2011. T charity meet8 thè dèflnltlon of a publlc benefit entlty a8 set out In FRS 102. The Chadlle8 (Accounts and Reports) R•gulatlon8 2008 {the '2008 Regulatlons'l TequlTaS charftle8 to prepare th8lr accounts In accordance wllh 'AccounUng and Reportlng by Gharftl8B". Statement of Recommended Pr8ctiC8 8ffgdve from 1 Aprll 2005, but Ihls accountlng 8tandord ha5 5Inca beln withdrawn and has been replad by the Chart88 SORP menOned In th• pr•cedlng paragraph. Th8 charlty h88 prepared Ihgse financial statements In accordanrA wlth th8 naw Charftles SORP- thls d8perturg Irom th 2008 Reguladons16 b8118vod to be noca4•ary forth8s6 nandal $tslem•n¢s to glva a'trua and falr vlew. Th• prfndple8 adoptsd In th• prvparalon of tho finan¢l81 •t8t¥ffl8nts Are Sel out b•low. The Irusle88 hav8 88Be6Bed whether th8 UB8 of the going concem bBsl8 18 &pproprfate and have conBldered p0881blg evBnt8 or condlllonB that mSght CaBt Blgnlflcenl doubt on the ability ol the cherity Iv cvnUnu8 88 a golng concern. The truBtee8 have made th18 asBessmenl for a perfod of at le88t one year from thg date ol approval ol the flnanGlal 8tatern&nl$. In portlcular the tru8lee8 ha conGldared Ihe charltys forerA8t8 and prolecllons and thè p086ible Impllcatlon6 should projected Incom8 and l or •xp•ndlture vary Un8XP•Ctodly. The INstee¥ hBv• concluded that Iher8 Is a r•880nable expectauon th81 the charlty h85 adequate resourc88 to rA)ntlnu• to operate fDr th• fore8e88ble future. The charfty th8r•fore COnnUel to Adopt tho golng concern ba*1• In prnparfng Ils flnanclal $tatoment8. Income Includlng Instment Income IB reco9nl8ed In the period In which the thartty bécomes endU8d to receipt, the amount r8celvAble can be me8sur•d wlth reasonable cert•lnty. and rec8lpl Is probable. For iho most part. Incom•19 98n•rally recogn188d wh•n It Is recelvod. Intom8 Is only def8rred when the ch811ty ha8 to fulfil condllion6 belore becomlng 8nUU8d to It or wh8r8 the donor has 8p•clflad that the income ll to b• expended In a futur8 p•rlod. Income from donallon# qnd18gacle8 IncludeB.' 51 RKoverable glft ald. Thls18 recognl8ed whèn tha relat•d donallon 18 recelved. Glft old thot ha8 not b88n rnCOVOTed by Iha balance Bheet d8tè1g Included 86 a deblor. Th• ¢hartty r81108 on volunto•r8 to rry out rnany of IIB However, In accordance hth the SORP, the valu• of tha88 8eNleas hag not been incluéèd In those flnanclal Btatements AS thay c•nnot bg rnllably m8a6ured. Income from charltable acUvlll•s r$pra8ant8 Incoma mc•rvabl? from gocpJ8, tYceS and lac11188 suppllod In furtheran¢e of th• tharftl8 ch8rll•bl• obl•cts. It Include$ InGorn• from thurch retreats and olh•r •v•nts ond ¢our8ai. Page 10
LEAVALLEI CHURCH NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 Acc¢wnting Pdlclis Icontlnuedl Expenditure. induding irrecoverable VAT. is recogni5ed when It 15 Incurreil ar. il earfier, when a legal or constructive obllg8tlon lor 8 paym8nl arise5 provided that il 18 probable that seltlom6nt 11 be requlred and the 8mounl of the obliggtion ¢an be rneasured reliably. The charity mak8s grants to other InBlllullon$ and individuals io further Its ¢hBrltabla objèctiv•s. Grants payable are Tecognlsed 86 constructive obllgatlons arfse, which 15 generally wh•n tha charlty expre&8es 8 comm51m8nt to thé rècipiant that can b8 mea8UT8d rellably and then only to thè extent that any condlllonu assocSaied vAth the grant 8re outslde of the control of thB charfty. The cost of raislng funds Is not 8ignificanl and ha8 not b•en separately dlsclosed. Govemance ao8t8, whlch are includ¢d in expendltur8 on charilable acdvltles but ore identified Bepar8tely in the not8B to the account8, includes costs assoclaled with th? Indépèndent examination of the finamdal st8MentS. compliance constiiuiional and 8t8lutory requlrèménts and ony other 8xpendllur• Incurrad on the strateglc management of the ch4rlty. Géneral funds are unrestricted funds whlch are avollable IOT U$* 8t th& dl8cretlon of the tnJstee8 In furtherance of Ihe nerAl oblactlvès of the charity. DeBlgrtaled funds comprfs6 unTesldcled funds that h8ve been 8&t aslde by the I$t8&S for paflbeular purpo8. R•strlcl&d funds are donationg which are to be u88d in acctsrdan wlth ip•¢ifl¢ r•8lrl¢Uon$ Imp088d by donor8- théy Include donatlon8 re¢glv8d from appeals for sp•¢lfl¢ a¢vIlla8 or projects. èl Ilems purchased or donJt•d for the charftys ovm u•0 are ¢apltall8ad Wh the co81 ol PUTBhaued Il•ms, or the faSr value of don818d It•ms, 18 more than £1.000 and the Itern 18 expected to benefit the charlly over more than one accountlng perlod. Depreclgllon IA thargèd on g stralght Ilne ba815 10 88 lo wrlt• down the valug of ?8rh a$8•t to116 88tlm818d resldual value111 any) over118 8xped•d useful economlc Ilfe. To 8chlove Ihls oblectbv• lh• followbng rates of deprecl#don gra charg•d'. Improvements to property 125% on reducing balance Flxture5 and flngS 25% on rèduclng b8lance COmpur equlpmènt 25% on rèduclng balanc Motor Vehldes 25% on r8dudng balance No depredation Is charged in reBpect ol freehold land And buiklSng6 as Ihe re6ldu81 vglue of th8 prop8ty after Its 8stlm8ied u8eful Ilfo 18 8nUdpated to be 8t lèast the c8rWng value of the propèrty 8hown in the financ581 Btatements. Th$ rryIng valu•s of tanglble flxed gAsets •r• r•vlow8d for impalrm¢nl In portods ¥th•n ev•nts or chfjnges In clrcum8tanc08 Indi¢ate that th• ¢•rWng value may not be r•cov•robl•. me 8rran emenls The charlly op?r81g8 dèflnad contribullon pon8lon schem•8 for Its •mployee$. Obllgauong for conlrfbullon8 lo the$• hom08 are rncogniBed BS an expgn5B when the Ilabillty ar18•s. Th• asse18 of those scheffles are held 8epBr8lely from th08e ol lh8 charfty in indepandenty admlnI8t•r•d fundg. The charity takan AdvBntage of Ihe varfoue wll?f8 from taxallon avallable to charllles and no tsx i¥ pyyubbe on tho charfty8 Income. The ch8rllYs flnanc4818ssels and flnancial118bllltl?s all quallfy a& baslc finandal Instwments, ag deffned by FRS102. Except for loans, credltor8 and debtors are measured at Ih8lr eXCIed settlement value Inorrnally the amuunt of ca9h that Ihe chBrfty expects to pay or receive). The charity recognises liabllbties for th8 prfnclpal of those loan8 that rernainB oulstqndln9 at Ihe end11.e. the 11gbllili&s exclude any in18rèst chargeabl8 on the loans in futurè years). nlro re ann a ca5hnowsts The charity has taken advantag8 of an exernption conlerr8d bylhe Chartlles SORP and has not prepared a cash flow stalem8nt. Page 11
LEAVALLEY CHURCH NOTE8 TO THE ACCOUNTS FOR THE YEAR EMDED 31 DECEMBER 2024 A¢¢ountlng Pollcl•s Icontlnu•dl 11 Critical accountin estimat85 and 8re3s of ud emenl In pr8parlng finanual statements certain judgements, e¥llmate& and assumpuons hovu to be mada that affect thè 4rr)unts recognlsed In th• fln8nclal statements. The trustee8 con8ideT the follovltng to bB 819nlflcant.. 11 Tha annual depreciation charge for Property, plant and aqulpmant Is s•nsldv• to chang•s In th• estlmatos for usèful •conomlc IKe and rgsldu81 value. Th888 8stirnats8 ar8 r8a88eBBed annually and, when nece¥Bary, adjusted lo r?flect cuffènl clrcumstan¢eA. Donatlon• antj l•ga¢l•• 2024 2023 Donallon8 of ca#h and slmller Income t8x recoverable 162.042 31.445 93.488 154,484 1ftm• from ¢h•dtsbl• •¢tlvltl•• 2024 2023 Churth adv4U•o Inv•ikn•ni Incom• 2024 2023 Bunk Int¥r•st 158 158 Ch•rltsbl• •xp•ndltur• 2024 2023 Ca¥t• InGUtMd dlr•ctly on ¥p•elflc •ctlvltl•• Employment c08t8 Travel c08t8 Telaphone and utlllllo8 C8t8rfng Equlpm•nt Mln18ty Co8tB Confereneèj end Iralnlng Property Cogtg 80,374 5.825 11.727 1.220 2,373 7,057 17 5,834 14,027 76,961 6.178 1.878 2.1 10.491 1,591 109,180 Gr•nt8 payable (note 6cl 22,873 25,490 136 900 134 069 b Cost8 Ineurr•d on support & •dmlnl4trtlon Gov8manGB CD$ts Ind&p•nd•nl 8xamln•rta f•• 2,520 2,520 2.4) Admlnlstralon Othgr acBDuntsncy relatsd c051s Substhplons and profg88lonal fees Loan inlere¥t payablo Deweclelion of tsnglblg flxgd assats Insurance 2.948 2.301 2,257 33,035 6,645 3.588 53.273 2,520 3,196 2,270 31,742 8,287 5,442 55,857 Total eXndItUr• 190,173 190,526 The fee payablg to Ihg Ind8pendgnt 9X8miner for preparing and examlning the accounts was £2,52012023.' £2,400). Page 12
LEA VALLEY CHURCH NOTE8 TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 Charftable •xpondltur• Icantlnu•dl Grants payabl• Insutudons Indivbduals 2024 Grants for UK •nd overs888 m1881on 22.375 498 498 22,873 The ¢omparnliveB for th• pravlou8 year ar8 a8 lollow4.' InsJtutlons Indlviduj 2023 Grants for UK and ov•r8eaB rnls¥lon 23,312 23,312 2.178 2.178 25,490 25,490 The ch4rlty8 Prtndp41 grants to In8tllutlonB comprf$•d.' 2024 2023 Ass•mblle$ of God UK OZUK Emmanuel'i Orphan8 and Vulnerabl• Chlldr•n Group 3,650 6,300 23,312 8.650 13.082 Th• canp9r41lv for 2023 for the breakdown of gr•ntB lo IndlvlduAl• and InBlilutlonJ h40 be•n am8nd8d. An•ly•l• of •t•ff co•tJ, th• cost of key m•n•g•m•nt p•r•oThn•l Ind tru•t•• r•mun•r•llon The averJge rnonthly nurnbar of employe08 durfng lh8 laT was 4 12023: 41. Most of tha chaTIty'8 actbvblbe8 aro carrfed OLTrt by volunt88ru. No staff reld aal88 at a rate of more Ih8n £60.000 per annum. The tharftls key management compd8e the IruBteeB and the key staff nam8d on tho Charfty InforniaOn pag•. Tot•1 employrnent b?nefil8 payable to key manugement for the year were aB follows.. Other Employer Wgg•8 & employThenl pen8lon 8alar1o8 beneflls cantrlbutlonB 2024 Tru81ee8'. Geoff Ae8 Timothy Gutm•nn K•y man8g8Tnent conn?rt•d to tru•t•88'. Tanlth Ace Hay8y Gutmann 13.280 30.070 530 1,203 13.790 31,273 13.280 18.400 530 736 13.790 Th8 followlng amounts w8r8 payabl? In the pr•vlou• y8ar. Other Wage¥ & emplont b8n•fits contribullons EmplOr 2023 TTU8t8eB= Gpoff A mothy Gutmann Kay managBment connBGt8d to trustee$'. Tanith ACB Hayey Gutmann 13,260 27,360 530 1.094 13,790 28,454 13.280 18,400 S30 736 13,790 19.136 PBg• 13
LEAVALLEY CHURCH NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEM8ER 2024 Anatysls of •tsff co•ts, th• eojt of k•y manag•m•nt porsonn•l and trus1•• Mmun•rntlon Icantlnu•dl In addrtion th8 charfty Incurred expenditure totalllng £1.40412023.' £4031 In reBpecl of the customary provlslon of aeeomrnodalion to Tlmothy Gutmann ItruBteel 8nd HaeY Gulmannn (key management), 60 that they could better p•rfom thèlr dutles. Geoff Ace ltru8tÈel ond Tanith Ace (key management) 8180 rece6v¢ th& bènefit of the customary proviBion of occornm0d8oft but no direct or dl8cemabl6 east to ihe charity has been Incuff•d in this re8pect. 9 T•nglbl• Ilx•d *•••t• Freehold Improv•ments Flxture8 and Property to prop•ty fittings Comput8r equipment Motor V8hlcl8A Total 2024 Cost Al 1 J8nu8ry 2024 Addldons Al 31 D8c•mber 2024 1,112,392 91,710 15,937 1.525 27,500 1,249,065 1.112392 1,249 065 A¢cumul8led d8predatlon At 1 January 2024 Charge for the yoar At 31 Oecember 2024 6S.281 16,811 32 1,518 12,031 3,8e7 94,641 101286 N•t b(bok value At 31 Oecember 2024 1 112.392 23,685 95 11,602 1.147,779 At 31 Oecomr 2023 1,112,392 26,429 126 1154423 10 D•btor• 2024 2023 Falllng du• wlthln on• y•ar', Tax recoverabl8 14.899 15,224 11 C••h •t 8•nk and In Hand 2024 2023 C•8h al bank wlth lrnrnodlote acce8 28,305 28,305 34,265 34,26 Page 14
LEAVALLEY CHURCH NOTE8 TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 12 Credliorn: Ilabiliti•• falling du• wlthln on• year 2024 2023 Olh8r cr8dltors Accrua15 Loon8 506 2.520 1 B.008 482 2.4Th1 18.076 13 Cr•dltor•: •mount• f•lllnq du• aft•r rnore than on• y••r 2024 2023 Loans 390,803 390,803 409,281 409.281 14 Lo•n• •nd flmnce lea•0• The11obilltlo5 for loans referred to In note8 12 and 13 f811 du• for rapgyment a8 follows.. Bank loan• 2024 By In$l•lm•nts 2023 Ropayable.. Wlthln c8 year B•tsMgn one and flve ye#rn After flve •r8 18.008 86,580 18,008 a6,680 16,078 58.397 352.885 425 357 408.B11 408811 Tho benk 108n referred to In the above note8 18 8•cur•d on the church freehold land and bulldlngu In Watham Abbey. Intèr•8t 18 payable at a varfob18 rat8. whlch al bolance shéèt data W98 7.25%. The loan18 belng repald In monthly In8lalments and mult b• repabd in full by 30 Saptsmber 2038. 1S P•n•lon commltrnont• Dudng the year employees p8n8lon contrlbuUon8 iolalllng £2,999 12023.. £2.8911 ra payabl• to dgfin•d c4)nldbutlon p8rBonal pon•1¢ •¢hom. Pen8lDn contrlbuUon8 lotslllng £60812023.. £4821 were Dn9 41 the balon •he•l dale. Pagè IS
LEAVALLEY CHURCH NOTES TO THE ACCOUNTS FOR ThE YEAR ENDED 31 DECEMBER 2024 11 Fund• Ouring the year thè movernents in the chuW$ fund8 were as followB'. OnIng Incomlng balanrA resources 2024 2024 Outgolng TesourceB 2024 Transfers In th8 year 2024 Gains and losses 2024 Closlng balance 2024 Genèral Unrnstrlcted Fund 64,466 184.4 1134.2301 160,8611 $3,881 Total Unrnstrlcted Fund8 64,466 184.496 (134,2301 I60,8511 53,881 Re$l*%¢l8d Fund8 Ml861on 2,146 5,523 1,033 114,4471 11,8241 133.0351 15311 12,302 3,698 703,561 4,783 1,103 12.1 8ulkllng Organ Loft R•lurbl$hm•nt Fund Share Fund Inlbu8 Fur 687,035 5,314 B03 18,056 48.549 300 150 16.1051 711,207 9,150 155.9431 60,8S1 725,285 Aggmgato of fund8 775,673 193.648 1190,1731 779.146 The trnnsfars r•f8rr8d to above wero mada for th8 follong roa$on8: al TrAnsfer frorn the Gen?ro1 Fund to the Mlsslon Fund to war the deflclt In glftB to 8pecMc rnlBBionarle8 lh¢ ar. bl Transfer from th¢ G•ner81 Fund to the Bulldlng Fund. whlch Tepre8ents mortgag8 r•paym•nts belng mad6 from the Genernl Fund bank account In tha ar. An•lyBl• of n•t ••••t• by lund The a8Bets ond Ilobllll88 of the varfou¥ fund• warn aB follow8.' Gener81 funds D88lgnated fundB Reslrlct8d fundk 2024 Tanglble fix•d OBset8 Oeblor• C86h al b•nk and In hand CmdSiors falling du8 withln one year Cr10r$ falllng due after on• yeaf 19,003 14,546 23,359 13,0261 1,128,776 353 4,947 118.008) 1390.803} 1,147.779 14.899 28.305 121,0341 1390,8031 53,881 725.265 779,146 Page16
LEA VALLEY CHURCH NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2Q24 16 Funds {¢ontinu•dl In th wwious year the movtrrn¥nts In tha charitys funds w•r• 8$ follow6.' Openlng Incoming balanc resources 2023 2023 Oulgolnll r•sourceB Tr8n5fer¥ In the year 2023 Gain8 and J0669 2023 Closlng balance 2023 2023 Gon•rnl Unrn81rlctsd Funds 78.88B 178,989 1133,5921 IS9,8191 Rèsblctad Funds Mlsslon 2.300 1.810 1,488 113,0621 {3,5541 131.7421 (5901 10,762 1,744 47.313 Building Organ Loft Refurblshment Fund Share Fund Mlnlbus Fund 669.976 5.905 887.035 6,314 803 18,055 413 833 25,209 17,9861 701.480 6,843 168.9341 59,819 711.207 Aggreg8te olfvnd$ 780.368 185,832 1190.5261 775,873 An•ly•lJ of n•t •*•ts by fund In the prevlous year, the assets and Ilablllll88 of Ihe varfou¥ lund• vmrn a8 follows.. Unr08trfcted Funds Ggn8ral D•8ignated funds fund8 Reytrfcled fund8 2023 Tonglble flxed ABBelB Dobtor8 Cash at bank and in hand Credltors falllng du8 thIn ono yfrar Credltors falllng duo 8ft•r one year 21,248 14.880 31.220 12.B821 1.133.175 344 3,045 116,0761 1409,2811 1.154,423 15,224 34,265 118,9581 1409,2811 64,466 711,207 775,673 The Ml••lw Fund r•prns•nt8 re$lrfct8d glfts m8do by thg congr•g4llon for sp•dflc mi881onarfeB and 1$ pald out th• by ¢hurch In full. The Chrf•tl•n Actlon Aqalnit Antl••mltl¥rn Fund representB rnoney glven to fvnd the rnlnlBtry of ChTIBtlanJ edvocaung for d18uiminated JeYlBh ppoplo and ralslng awaTeneBB of and-BemlUsm in the UK. Th? 8ulldlng Fund represents the value of the churth bulldlng purchased in 2008 together S1h the donatlons to thls fund. lesB the mtyig8g• and loan liabllitles oulslandlng. The Org•n Loft RafurblBhrnent Fund r8pras8nts money given for the speclflc purpose of the organ loft refurblshment and upkeep. The 8h•r• Fund relat95 to Bny Bpeclflc nvedB 1dontd ¥Athln the thurch famlly. Thè Mlnlbul Fund represents thé v•lu8 of a vehicle purchasèd for tha thurch's u8e In 2022, together with diAtIOnS lo thls fund and aBBociated eyp•ndlture, Including deproclation. Page 17
LEAVALLEY CHURCH NOTF8 TO THE ACCOUNTS FOR ThE YEAR ENDED 31 DECEM8ER 2014 17 Tr•n8•cdon• whh r•lot•d pArtI•• DLFrfng the 5wrlh• charfty.. o) r•c•ivad donaUonB totslllng £21,60412023'. £22.4421 from r•latsd partl•s (knthlth Indudes tN8tees, any other m&mboT8 of key m8nagomont and anyona clolely connected to thwn). b) No oypanu812023'. £nill wwe pald to, orfor. th• tru8t8e8 fLYthé purpo8e8 OIc0ftn0 out Ihelr dutl•g as tnJst•••, Except 18 dl8doo•d In not& 7'AnalyTi8 of 8tDff ¢o•ts'. th•rn have been no olher tran8#Ctlon8 wlth r•lat•d parfe8 tho year. Page 18
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