BASINGSTOKE COMMUNITY CHURCHES Hub Community Church Hope Community Church Life Spring Community Church Tadley Community Church ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
BASINGSTOKE COMMUNITY CHURCHES ANNUAL REPORT and FINANCIAL STATEMENTS For the year ended 31 March 2024 CONTENTS Page Trustees, Advisors and Charity Information Trustees, Report Independent Examiner's Report 10-11 Statement of Financial Activities 12 Balance Sheet 13-14 Statement of Cash Flows 15 Notes to the Financial Statements 16-25 Page I
BASINGSTOKE COMMUNITh CHURCHES ANNUAL REPORT and FINANCIAL STATEMENTS For the year ended 31 March 2024 TRUSTEES AND ADVISORS Trustees I directors The Trustees I directors during the year and to date of report were as follows.. Philip Wraight Ben Oliver Gary Bastin Jonathan George David Butler Andrew Taylor Joy Wake (appointed 17 October 2024) Lucy Tate (resigned 16 November 2023) Asher Stanford (resigned 4 September 2024) Company Secretary Mark Nash Advisors Bankers Barclays Bank plc 8 Market Place Basingstoke Hampshire RG217QA Independent Examiner Andrew Skilton Brewers Chartered Accountants Bourne House Queen Street Gomshall Surrey GU5 9LY Registered Office The Sarum Hill Centre Sarum Hill Basingstoke Hampshire RG218SR Company limited by guarantee number 03476768 Registered Charity Number 1067316 Page 2
BASINGSTOKE COMMUNITY CHURCHES ANNUAL REPORT and FINANCIAL STATEMENTS For the year ended 31 March 2024 TRUSTEES, REPORT The Trustees, who are directors of the Charity for the purposes of company law, present their report and the financial statements for the year ended 31 March 2024. Details of Trustees and the Churches, advisors are set out on page 2. Constitution and Objects Basingstoke Community Churches is a Charity, constituted as a company limited by guarantee, and governed by its Memorandum and Articles of Association. The Churches meet in local congregations which have been given local autonomy whilst continuing to work closely together as a family of churches. The objects of the Charity are.. The advancement of evangelical Christian causes which are pursued through a number of local congregations in the Basingstoke area, and involvement with other churches in the UK and overseas. The relief of poverty and hardship in various forms. Such other charitable purposes beneficial to the community as a whole. The Trustees delegate the management of the Charity to the local Core Team and the elders of the Basingstoke Community Churches. Some of the Trustees are also elders of the local churches. The Trustees are appointed by ordinary resolution at a general meeting by the members of the Charity, most of whom are also elders in the churches. Structure and organisation Basingstoke Community Churches is made up of four local churches in the area, each of which is governed by a team of elders, assisted by an administrator and a treasurer. The local churches develop their own local expression and involvement in the community whilst retaining the overall values and ethos of the whole. There is a core team made up of the main leaders of each of the four churches along with some other leaders who have a ministry across all the churches - this team oversees corporate strategy and values. The Trustees have legal responsibility for the activities of all the churches. The core team and Trustees are served by a team caring for the buildings and a central finance and administration team. Induction and Training of Trustees Trustees are carefully selected for their suitability. Once appointed, they undertake an induction programme in order to fully familiarise them with the workings of the Charity. Activities and Achievements The year beginning April 2023 began in the core team with some constructive input from an organisation called Authentic Business (AB). They work in a variety of organisations, including charities, churches and businesses, coaching them in a variety of ways. They helped us face some of the travail and pain of the past, the seismic changes from leaving S & L, and helped us develop our team togetherness and awareness. Included in that was gaining a greater awareness of each person's contribution and how in their thriving they can contribute to the whole. Trust feels high, albeit there is always more work to do. In addition, AB helped us focus again on what we are trying to achieve and support as a core team, and as 2 family of churches together. How do we have a sense of direction, or north star, that captures and supports what each church is pursuing in God? This process has included firming up on our shared name as Community Churches Connected (CCC) - this was something the core team explained in a video communication to the Page 3
BASINGSTOKE COMMUNITY CHURCHES ANNUAL REPORT and FINANCIAL STATEMENTS For the year ended 31 March 2024 TRUSTEES. REPORT churches and followed up in a CCC gathering in Autumn 23. At that gathering we had the delight of Rachel Jordan-wolf from Hope Together speaking, an inspiring enigmatic evangelist. It was really good to be together as churches, and there was a lot of positive feedback. In light of our changed name, we have sought input from the church leadership teams regarding how they are progressing in outworking their vision as a means for us to have an overall view on our shared life in God. Growth & Impact remains something of a focus for us together, as something of a purpose or north star, but not simply a 'numbers' gamel Questions around growing in Christ, growing according to the vision God has given each church, as well as getting a feel for baptisms and lives being changed is an attempt to have a more rounded approach than simply numerical. We are interested in new initiatives that God is leading us in to and whether we can learn from each other as churches. So, knowing those things and trying to communicate them is important. Many of the CCC leaders took part in the Forge retreat in January 2024, with Howard Satterthwaite, a leadership coach who is a former pastor from Westminster Chapel London, now working for the international outreach charity Open Doors. He spoke through reflections on a variety of storms we face in life and helped us think biblically and reflectively about them. As we ended the year, finances remained challenging, especially for the Hub. But work was being done and prepared for the coming year. Hub have lost some momentum over recent years, with the arrival of an HTB backed ministry in town working across the Anglican circuit, being a blessing and a challenge - a blessing because they do so much good in our town and add to the momentum of Christian witness in the area, but a challenge because with the loss of momentum and difficulty in Hub a number of folks felt their futures lay in joining and supporting this new venture. It is understandable in so many ways and adds to the ability of the new venture to have a positive impact, but of course further hinders Hub's recovery and momentum. It has only increased the sense of pain felt by many in Hub over the difficult few years it has experienced. Thankfully we are all God's church, and He knows. The community activity of Foodbank, street pastors, and Money Lifeline continue to bless and aid some in the wider community, and CCC has played its part in this provision. The winter night shelter was once again supported by CCC, and significant numbers of hampers were given out to the community via local agencies. Church members continue to serve in the town and area in a whole variety of ways, taking their place as God's people in the whole of life. Basingstoke Community Churches Review Ho e Communit Church The last 12 months have been good and encouraging for Hope Community Church. We launched 'Easter Alive!, an all-age event explaining the Christian message of Easter. This was popular and attracted over 200 guests from the community. We ran the Alpha Course after Easter, offering people an opportunity to investigate the Christian faith. We had a regular attendance of about 15 guests, and some came to faith and joined the church. In the Autumn we started Café Church once a month, run by some of our younger families, which has gone well. They are particularly suitable for those with young children. Our annual Blazing Light Party and Christmas events saw over 500 people come along. One person said that these are now part of their family traditions, which is lovely. Page 4
BASINGSTOKE COMMUNITY CHURCHES ANNUAL REPORT and FINANCIAL STATEMENTS For the year ended 31 March 2024 TRUSTEES. REPORT We have seen new people join the church, of different ages and from a variety of cultures and backgrounds. This has resulted in an increase in our finances, which is a blessing. We continue to run midweek Connect Groups as well as specific events for men and women. We also provide two groups for the elderly, retired, and those not in work. Our Family Worker continues to lead our children's work (Hope Kids) and our weekly parent and toddler group (Bouncing Beans). Both these have seen a steady increase in attendance. She has also made good connections with non-church support agencies such as Home Start and Flutterbyes, both of which use our building to meet in. Our Youth Pastor continues to support our young people with weekly evening and Sunday gatherings. He works closely with the other youth pastors across the town (leading town wide youth 'B.'United' events) as well as youth leaders in our wider network. He continued a Lv14 Therapeutic Counselling Course which we are supporting. Our Associate Pastor has developed work with the men, midweek groups, pastoral care and Bible teachinglequipping. Our 'English Café, continues to serve many international people, including some asylum seekers. With all these activities and growth, we have expanded our leadership team to help spread the load. We have had a good year, for which we are very grateful to God for. We are blessed to have lots of people in the church, who continually give and serve, so that we can achieve all we dol Tadle Communit Church Community Church Tadley serves the town of Tadley and the surrounding villages north of Basingstoke. We're an evangelical church for people of all ages, from children and young people to seniors. We arrange meetings, events and support for the local community. On Sundays we gather at the Tadley Community Centre and during the week in small groups in various locations around Tadley. Working co-operatively with Churches Together Around Tadley and the local town council we seek to see people's spiritual, social, and physical wellbeing improve, and for them to be inspired and enabled by the life of Jesus. In the past year the church has grown in numbers and impact in a number of ways.. In schools our fulltime Children and Youth Community Pastor has established our work in schools to help improve the wellbeing of children. The number of volunteer mentors and supported children has grown and is highly valued by school leadership teams, parents, and children. Outside of school we support children through the annual Summer Holiday Club, October Blazing Light Party and Friday Night Youth Club. The number of people being supported through the local Foodbank and Lunch CILJb for the elderly continues to grow. Through leadership of the Tadley Wellbeing forum we are also developing ways in which a more connected compassionate community can be established. Page 5
BASINGSTOKE COMMUNITY CHURCHES ANNUAL REPORT and FINANCIAL STATEMENTS For the year ended 31 March 2024 TRUSTEES. REPORT The Alpha course has run again, and we have started a new two-year initiative with Share Jesus International to help people more readily share the good news in Jesus with others. We expect these initiatives to continue to grow in the coming year as well as providing more support for those bereaved by running The Bereavement Journey and developing a community chaplaincy service. All of this will be underpinned by equipping and enabling the church for more community wide prayer. Lifes rin Communit Church There is life in Lifespring, and that is a beautiful thingl We continue to attempt to live out our tagline which is 'Rooted in Jesus, Making Him Known,. We gather on Sundays as our consistent meeting at St. Luke's Hall and numbers have gone up over the year to where we are more like 45+ or - most Sundays rather than 35+ or- This may not seem like much change but in a group that 'small' you can really feel that difference. On Sundays when we have imPORTant Sundays which are focused at people who are further afield or not involved hardly at all we often have bigger crowds than 'normal' Sundays. Our reach in a given week is higher than it used to be because not only are there more attending on Sundays, but we also have midweek gatherings and connections on WhatsApp which bring in more people who do not necessarily connect on Sundays. Our online presence continued through this period too, as we had Sunday Night Zoom Group which was usually 10 people. The housegroup in Oakley has been online since Covid and piGks up more people than previously including a couple from Scotland and Annie Crowe our missionary in Uganda. We've run a number of online discipleship courses including The Bible Course and at the very end of this period a course that our leader Earl wrote called 'Following Jesus, the journey of a Lifetime,. We've also had a connect group which met at Pueblo for quite some time and pulled in many from the Overtonlwhitchurch side of the church body. Alpha has proven to be popular once again as we ran one starting in February of 2024. In November of 2023 the leadership team began conversations as to whether Lifespring could take on Pueblo as a project and missional base. Sadly, the Agreda's had to figure out a way to close down the business. As it happened after including the church in much conversation, prayer and consultation it was decided that Lifespring would not take on that premises and the business did in fact close in mid-February of 2024. It was a base of much ministry, friendship and brought so much life to the village. Also, during this time there has been increased youth work happening in the church with the Brown's meeting with the younger youth and Lannah starting to gather a couple of older girls too. We've been pleased to have a new children's worker, Alex Pike come on board and the work on Sunday mornings has been a consistent part of what happens weekly. Our connections with local churches, BCCS and Forge continue to grow or stay about the same. We've had many Forge speakers in throughout this time frame which has strengthened those connections more. Our relationship with Kakeeka Church in Kampala continues to stay strong and through conversations with Annie Crowe we are able to keep the church up to speed on prayer points and what is happening there too. We want to continue living out our statement of 'Rooted in Jesus, Making Him Known, and through study of the Word, worship, working together, taking advantage of mission opportunities and stepping out in faith this will keep on happening well past the time the next trustees report is due. Page 6
BASINGSTOKE COMMUNITY CHURCHES ANNUAL REPORT and FINANCIAL STATEMENTS For the year ended 31 March 2024 TRUSTEES. REPORT Hub Communit Church In this financial year, Hub Community Church has continued to gather on Sunday afternoons at London Street URC. In addition, gatherings take place in smaller settings for our midweek small groups, prayer gatherings, relational building events, as well as in groups centred around our vision to serve those in our local community. At our gatherings we have worshipped together, eaten together at our Sunday Brunch events, and have encouraged one other through stories from our lives and teaching from the Bible. We have continued to work hard at encouraging and involving a greater number of people from the church community in delivering the content and welcoming people, some who were passing by on the street, to our gatherings. We continued to serve and minister as much as we were able with asylum seekers located in nearby hotels, helping them with both their physical material needs, with English language skills, and also providing opportunities for community. We also continued to develop connections with those from Hong Kong in Basingstoke and a number have continued to attend special events we have put on. We continue to try to reach out and bless these newcomers in our town. Our desire is that many would come to know Jesus. A growing number in the church community have continued going out onto the streets of Basingstoke to act with compassion in the community by offering prayer and sharing the Gospel. There have been some great stories as people encounter God on the streets and seeds are sown in their lives. We hope this continues and look forward to seeing how this ministry develops in the months to come. The children's and youth work continues to be a real highlight in the life of the church community. We continue to see both the younger and older youth grow as our young people invite their friends and be open about what Jesus has done in their lives. We have seen several of the young people get baptised and there is a great feel and atmosphere when they meet, and genuine friendships are being made. We also support our young people who are at university. International connections continue to develop, particularly into India where four churches are now connected with us. A team visited in the autumn of 2023, and we are looking to increase those trips to two in 2024. These trips involve encouraging church leaders, meeting with churches, and helping them to operate and expand their influence as they seek to spread the good news of Jesus and be a blessing to their communities. In relation to the church finances, this continued to be an area of significant challenge with the church having a significant shortfall at the end of the financial year. This meant the church could no longer sustain its level of paid staff. In light of this, there are difficult decisions ahead. To navigate this, a Financial Review Team was asked to conduct a review beginning in March 2024 with the following remit: 1) To consider the most appropriate way to help make the church become financially stable into the future, through interaction with both HLT and some church members, considering both redundancy and reduced hours. 2) As a secondary aim, to pass on any reflections pertinent to understanding recent history and to enable future planning. Whilst this has been a challenging time financially for the church, the church and its leadership look forward to all that God has for us in the next financial year and are excited by the areas the church has been able to bless and minister in the local community. Page 7
BASINGSTOKE COMMUNITY CHURCHES ANNUAL REPORT and FINANCIAL STATEMENTS For the year ended 31 March 2024 TRUSTEES. REPORT Financial Review Tithe Income was £542,519 (2023.. £505,641), a rise of 70/0 on the previous year. Total Incoming Resources were £888,700 {2023: £835,667), a 60/0 rise on the previous year. Total Expenditure, used to meet our ongoing objectives, was £956,188 (2023 £982,712), a reduction of 3 %. As set out in Note 7 of the financial statements, gifts and donations made by the churches totalled £168,926 (2023.. £148,464) these comprise gifts made by the churches, leadership and also include amounts specified by the donors. They are made to people and organisations with whom we have an ongoing relationship and therefore accountability in seeing that the money is used appropriately in accordance with the gift. The financial position at 31 March 2024 is considered satisfactory for future activities. We have continued to navigate an ongoing challenge with the issues affecting the Hub as highlighted in the report, this has settled somewhat towards the end of the period and we look forward to reporting on the end of this and a more positive outlook moving fOardS. We have continued to have some reliance on the charity's reserves, however this has been balanced to some extent by the ability to use our reserves to achieve some better interest returns. The charity still has significant Gash balances after the sale of two properties in 2019. Our reserves policy can be found in the accounting policies (note 1 to the financial statements). Our resetves policy is to aim to hold cash balances equal to three to four months of expenditure. The current situation is well within that policy and additional reserves in anticipation of a purchase of some land and then an ongoing building project to provide a new home for one of our congregations. Public Benefit. When assessing the activities and achievements of the Charity, the Trustees have considered the Charity Commission guidance on public benefit, and in particular, the guidance for charities on the advancement of religion. Risk Assessment. The Trustees have given consideration to the major risks to which the Charity is exposed and are satisfied that there are measures in place designed to mitigate those risks. Statement of Trustees, Responsibilities The trustees (who are also the directors for the purpose of company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations. Charitable company law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees must prepare the financial statements in aGcordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charitable company and of the incoming resources and application of resources, including the income and expenditure, of the Charitable company for that period. Page 8
BASINGSTOKE COMMUNITY CHURCHES ANNUAL REPORT and FINANCIAL STATEMENTS For the year ended 31 March 2024 TRUSTEES, REPORT In preparing these financial statements, the Trustees are required to.. a) select suitable accounting policies and then apply them consistently., b) observe the methods and principles in the Charities SORP.. c} make judgments and accounting estimates that are reasonable and prudent., dl slate whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements., and e) prepare the financial statements on Ihe going concern basis unless it is inappropriale to presume that the Charitable company will continue to operate. The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the Charitable company's transactions and disclose with reasonable accuracy al any time the financial position of the Charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assels of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The financial statements..
have been prepared in accordance with the accounting policies set out in notes to the financial statements., comply with the Charity's governing document., comply with the Companies Act 2006., and comply with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland. The Trustees Report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. This report was approved by the Trustees on 16 December 2024 and signed on their behalf. Andrew Taylor, Trustee and director Gary Basti stee and director Page 9
BASINGSTOKE COMMUNITY CHURCHES ANNUAL REPORT and FINANCIAL STATEMENTS For the year ended 31 March 2024 INDEPENDENT EXAMINERS'S REPORT TO THE TRUSTEES OF BASINGSTOKE COMMUNITY CHURCHES I report to the Trustees (who are also directors for the purpose of company law) on my examination of the financial statements of Basingstoke Community Churches ('the Charitable company,) for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet the Statement of Cash Flows and related notes. This report is made solely to the Charity's Trustees, as a body, in accordan with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the Charity's Trustees those matters l am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work, for this report, or for the opinions I have formed. Responsibilities and basis of report As the Trustees of Charitable company you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the financial statements of the Charitable company are not required to be audited under Part 16 of the Act and are eligible for independent examination, I report in respect of my examination of the Charitable company's financial statements carried out under section 145 of the Charities Act 2011 ('the 2011 Act,) and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently l express no opinion as to whether the financial statements present a 'true and fair, view and my report is limited to those specific matters set out in the independent examiner's statement. Independent examiner's statement Since the Charitable company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of ICAEW, which is one of the listed bodies. 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 that in any material respect.. accounting records were not kept in respect of the Charitable company as required by section 386 of the 2006 Act., or the financial statements do not accord with those records., or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair view which is not a matter considered as part of an independent examination., or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). Page 10
BASINGSTOKE COMMUNITY CHURCHES ANNUAL REPORT and FINANCIAL STATEMENTS For the year ended 31 March 2024 INDEPENDENT EXAMINERS'S REPORT TO THE TRUSTEES OF BASINGSTOKE COMMUNITY CHURCHES (continued) I have no concerns and have Gome across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial stat ents to be reached. Andrew Skilton, ACA Independent Examiner Brewers, Chartered Accountants Bourne House Queen Street Gomshall Surrey GU5 9LY Date: 16 December 2024 Page I I
BASINGSTOKE COMMUNITY CHURCHES ANNUAL REPORT and FINANCIAL STATEMENTS For the year ended 31 March 2024 STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 March 2024 (Including Income & Expenditure Account) 2024 Total Funds 2023 Total Funds Unrestricted Funds General Designated Restricted Funds Notes INCOME AND ENDOWMENTS from: 3a Donations and legacies 3,685 662,621 165,907 832,213 824,216 3b Charitsble Activities 5,000 5,000 5,000 Investment Income 45,186 6,301 51,487 6,451 Total 48,871 673,922 165,907 888,700 835,667 EXPENDITURE on: Raising funds 1,419 1,419 Charitable Activities 203,543 589,152 162,074 954,769 982,712 Total 204,962 589,152 162,074 956,188 982,712 Net Income I (Expenditure) 156,091L 84,770 67,488 147,045 Transfers between 11&12 funds 163,431 (163,431) Net Movement in Funds 7,340 78,661 3,833 67,488 147,045 Total Funds at 1 April 2023 1,375,877 504,786 125,158 2,005,821 2,152,866 Total Funds carried fonNard at 31 March 2024 1,383,217 426,125 128,991 1,938,333 2,005,821 The notes on pages 16 to 25 form part of these financial statements. Page 12
BASINGSTOKE COMMUNITY CHURCHES ANNUAL REPORT and FINANCIAL STATEMENTS For the year ended 31 March 2024 BALANCE SHEET AS AT 31 MARCH 2024 Company registration number 03476768 2024 £ 2024 £ 2023 £ 2023 £ Notes FIXED ASSETS Tangible fixed assets 377,989 393,264 CURRENT ASSETS Debtors and prepayments Bank and cash balances 66,602 1,515 181 42,939 1589,776 1,581,783 10 CREDITORS: Amounts falling due within one year 21,439 1,632,715 20,158 NET CURRENT ASSETS 1,560,344 1,612,557 NET ASSETS 1,938,333 2,005,821 Represented by FUNDS: Unrestricted Funds: General funds 1,383,217 1,375,877 11 Designated Funds 426,125 504 786 1,809,342 1,880,663 12 Restricted Funds 128,991 125,158 1,938,333 2,005,821 The Charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The Trustees have not required the Charitable company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. The notes on pages 16 to 25 form part of these financial statements. Page 13
BASINGSTOKE COMMUNITY CHURCHES ANNUAL REPORT and FINANCIAL STATEMENTS For the year ended 31 March 2024 BALANCE SHEET AS AT 31 MARCH 2024 - continued Company registration number 03476768 The Trustees acknowledge their responsibilities for (a) ensuring that he Charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and (b) preparing financial statements which give a true and fair view of the stale of affairs of the Charitable company as al the {cl end of each financial year and of ils surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which olhetwise comply with the requirements of the Companies Act 2006 relating lo financial statements, so far as applicable to the Charitable company The notes These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Trustees on 16 December 2024 and signed on their behalf Andrew Taylor, Trustee and director GaryB in, Trustee and director The notes on pages 16 to 25 fomi part of these financial statements. Page 14
BASINGSTOKE COMMUNI CHURCHES ANNUAL REPORT and FINANCIAL STATEMENTS For the year ended 31 March 2024 STATEMENT OF CASH FLOWS For the year ended 31 March 2024 2024 2023 Note CASH FLOWS FROM OPERATING ACTIVITIES Net income l (expenditure) for the year (67,488) (147,045) Adjustments for: Depreciation charges Interest received from investments (Increase) I decrease in debtors (Decrease) l increase in creditors 15,275 (51,487) (23,663) 1,281 15,274 (6,451) 2,901 (2,246) 10 NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 126,082 137,567 CASHFLOWS FROM FINANCING ACTIVITIES Interest received from investments 51,487 6,451 NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 51,487 6,451 CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR 74,595 131,116 Cash and cash equivalents brought forward 1,589,776 1,720,892 Cash and cash equivalents carried forward 1,515,181 1,589,776 The notes on pages 16 to 25 form part of these financial statements. Page 15
BASINGSTOKE COMMUNITr CHURCHES ANNUAL REPORT and FINANCIAL STATEMENTS For the year ended 31 March 2024 NOTES TO THE FINANCIAL STATEMENTS 1. Accounting Policies a. Basis of preparation of the financial statements The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (2nd edition, effective January 2019), "Charities SORP" and Companies Act 2006. Basingstoke Community churches meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. b. Going concern The Trustees have assessed whether the use of the going concern basis is appropriate, they have considered events, circumstances or conditions that might cast significant doubt on the ability of the Charity to continue as a going concern. The trustees made this assessment for a period of at least one year from the date of approval of the financial statements. The Trustees have continued to exercise due diligence in monitoring and requesting of information with increased regularity from the churches as they continue to track the financial situation. After making these enquiries, the Trustees have concluded that there is a reasonable expectation that the Charity has adequate resources to continue its activities for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements. c. Income Gifts, tithes and donations are recognised as income when received, together with the associated tax credit. Legacy income is recognised when it is reasonable to assume that this income will be receivable. It is included in the SOFA at the value based on information provided. Income from charitable activities is recognised when the Charity is considered to be entitled to apply the resource and the likelihood of receipt is established with reasonable accuracy. d. Expenditure Expenditure is accounted for on an accruals basis as soon as there is a legal or constructive obligation to transfer economic benefits as a result of past transactions or events, it is probable that the transfer of economic benefit will be required in settlement and the monetary value of the settlement can be measured with sufficient reliability. Governance costs comprise external audit and all costs of complying with constitutional and statutory requirements. e. VAT Due to the nature of the Charity's activities, the Charity falls outside the scope of VAT and therefore it's Income and Expenditure, as stated, is VAT inclusive. f. Cash management Cash not required for day-to-day operations, but for the medium term is placed, via the CAF Charity Deposit Platform, on deposit having regards to the duration, amount relative to the Financial Services Compensation Scheme limit. The CAF Platform is a charity deposit platform provided by Flagstone Investment Management which enables the charity to diversify its cash holdings. Page 16
BASINGSTOKE COMMUNITY CHURCHES ANNUAL REPORT and FINANCIAL STATEMENTS For the year ended 31 March 2024 NOTES TO THE FINANCIAL STATEMENTS 1. Accounting Policies continued g. Funds Restricted Funds are separately identified and appropriately described. General Funds are not subject to any restrictions regarding their use and are available for application to the general purposes of the Charity. The individual churches, income and expenditure are designated by the Trustees, except where the income is restricted by the donors. The accounts include all the transactions, assets and liabilities for which the Charity is responsible in law. They do not include the accounts of groups that are informal gatherings of church members. h. Reserves The reserves policy for Basingstoke Community Churches is to aim to hold three to four months surplus to cover expenditure (equivalent to £250,000 to £300,000) as cash reserves in addition to fixed assets held and used for the churches, aims and purposes. This level of reserves should ensure that at any time of the year the Church is not required to borrow funds on overdraft from its bankers. Currently this figure is lower due to a large proportion of the charity reserves being held in deposit account to supplement income and reduce deficits and the use of reserves to fund the charity activities. However, this is monitored to ensure that funds to the value quoted above are only ever held in short term deposit accounts, thus achieving the same aim of not having to rely on borrowing. Additional reserves above the figure quoted above are generated with a view to funding longer term projects. The trustees are aware of the current high levels of reserves held within the charity. The trustees have decided to approve this as the charity intends to use the surplus funds from the sale of two buildings in 2019 to provide a new home for one of the congregations and to enable the continuing activities of the charity. Fixed Assets and Depreciation Land and buildings are shown at cost. In January 2015 the Trustees consulted local agents and estimated the market value of the remaining property held to be £0.9million. Sarum Hill - Estimated market value. £0.9 Million Fixed assets over £5,000 are capitalised and depreciation is calculated to write off the cost over the estimated useful life as follows.. Land Buildings 4 % Straight line per annum Pension Scheme Basingstoke Community Churches operates a defined contribution pension scheme for staff. The scheme is administered by Standard Life and is a qualifying workplace scheme for auto enrolment. Employer contributions are charged to the Income and Expenditure Account as they become payable. k. Leasing Commitments Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. Financial Instruments Basingstoke Community Churches holds only basic financial instruments. Debtors are measured at historic cost and are held at settlement amount net of any discounts less any provision for non-recoverability. Creditors are measured at historic cost and are held at settlement amount net of discounts. Page 17
BASINGSTOKE COMMUNITY CHURCHES ANNUAL REPORT and FINANCIAL STATEMENTS For the year ended 31 March 2024 NOTES TO THE FINANCIAL STATEMENTS 2. Trustees and connected persons During the year the following payments were made to Trustees and connected persons" Pension Contribution Expenses Salary Gary Bastin 44,677 5,300 208 Totals 44,677 5,300 208 In 2023 total remuneration of £47,868 was paid to one Trustee. The Charity contributed £5,300 (2023 - £4,968) to a Group Personal Pension Plan during the year. There were no outstanding contributions at the year-end. Approval has been received from the Charity Commission to make payments to Trustees. Trustees, expenses £3,854 {2023 - £5,635) were paid in the year, relating to travel and motor expenses. No employee received remuneration in excess of £60,000. Related Parties: Philip Wraight is a Trustee of The Safe, Basingstoke Ltd to which gifts and donations were made in the year (see Note 7) of £2,015. The total donations received from Trustees and related parties was £32,336 (2023.. £32,336). 3.a Income from Donations and Legacies Unrestricted Funds General Designated Restricted Funds Total 2024 2023 Donations Gift Aid Tax reclaims 3,685 545,549 117,072 662,621 165,907 715,141 117,072 832,213 715,403 108,813 824,216 3,685 165,907 3.b Income from Charitable Actives Unrestricted Funds General Designated Restricted Funds Total 2024 2023 Events and sundries 5,000 5,000 5,000 5,000 5,000 5,000 Page 18
BASINGSTOKE COMMUNI CHURCHES ANNUAL REPORT and FINANCIAL STATEMENTS For the year ended 31 March 2024 NOTES TO THE FINANCIAL STATEMENTS 4 Raising funds Unrestricted Funds General Designated Restricted Funds Total 2024 2023 Investment management costs 1,419 1,419 1,419 1,419 5,000 5,000 5. Cost of charitable activities Unrestricted Funds General Designated Restricted Funds Total 2024 2023 Direct Charitable Costs Missions & Projects Support Pastoral Costs Ministry Support Premises 15,104 467,396 37,413 63,952 583,865 162,074 177,178 232,115 550,122 524,767 43,878 35,372 73,554 76,658 162,074 844,732 868,912 82,726 6,465 9,602 98,793 Support & Administration Administration Costs Legal & Compliance Costs Governance costs.. Independent Examination Accounts preparation Bank charges & Interest Trustee Liability Insurance Depreciation 80,415 124 4,884 85,299 124 86,442 301 5,022 2,544 1,039 331 15,275 104,750 5,022 5,022 2,544 2,480 1,442 3,727 331 554 15,275 15,274 110,037 113,800 403 5,287 Total 203,543 589,152 162,074 954,769 982,712 Page 19
BASINGSTOKE COMMUNITY CHURCHES ANNUAL REPORT and FINANCIAL STATEMENTS For the year ended 31 March 2024 NOTES TO THE FINANCIAL STATEMENTS 6. Other Disclosures 2024 2023 The net incoming resources figure for the year is after charging: staff costs Salaries Social Security Employer Pension Contributions 540,081 45,610 43,302 628,993 493,893 42,394 42,771 579,058 The average number ofpaid staff (headcount) Ministry Buildings Administration Headcount Headcount 14 15 21 21 No staff member received earnings of £60,000 or more. The key management personnel of the Charity comprise of the Trustees and the core team. The total amounts paid in respect of the key management personnel of the Charity were £383,237 {2023.' £370,212). 2024 2023 Independent Examiner's fee Other accountancy services 5,022 2,478 7,500 5,022 2,478 7,500 Page 20
BASINGSTOKE COMMUNITY CHURCHES ANNUAL REPORT and FINANCIAL STATEMENTS For the year ended 31 March 2024 NOTES TO THE FINANCIAL STATEMENTS 7. Support for People and Projects 2024 2023 The church made the following Gifts and Donations in excess of £1,000, including specified gifts from restricted income received. South Central Sphere Giving & Support Pearls of Africa Annie Crowe - Uganda Kate Tolhurst, Kasana, Uganda BCC gifts to South Central Sphere Kakeke Church, Uganda Support for India Ladies weekend Foodbank Holidaysltrips for poor & needy Christmas Youth The Safe, Basingstoke Ltd Alpha Tearfund Ukraine Refugee Education Tees Valley Community Church V&LDuke IHart Other (individually less than £1,000) Total 50,546 16,770 18,675 11,011 10,600 5,408 8,725 3,736 2,455 4.101 2,413 13,177 2,015 1,000 2,355 34,952 16,587 16,320 13,559 10,260 7,116 6,790 4,018 4,890 2,816 2,287 1,987 1,843 1,727 1,216 2,146 2,000 2,000 15,950 148,464 15,939 168926 Page21
BASINGSTOKE COMMUNITY CHURCHES ANNUAL REPORT and FINANCIAL STATEMENTS For the year ended 31 March 2024 NOTES TO THE FINANCIAL STATEMENTS 8. Analysis of Fixed Assets Freehold Land & Property Furnishings and Equipment Total Cost At 1 April 2023 At 31 March 2024 763,717 763,717 5,901 5,901 769,618 769,618 Accumulated Depreciation At 1 April 2023 Charge for the year At 31 March 2024 370,453 15,275 385,728 5,901 376,354 15,275 391,629 5,901 Net Book Value At 31 March 2024 At 1 April 2023 377,989 393,264 377,989 393,264 In January 2015 the Trustees estimated the market value of the freehold land and building to be £0.9 million. 9. Debtors 2024 2023 Gift Aid tax claims Other Debtors and Prepayments 23,899 42,703 66,602 21,971 20,968 42,939 10. Creditors Amounts falling due within one year 2024 2023 PAYE and NIC Accruals Other Creditors 12,106 8,511 822 21,439 11,499 8,704 45 Page 22
BASINGSTOKE COMMUNITY CHURCHES ANNUAL REPORT and FINANCIAL STATEMENTS For the year ended 31 March 2024 NOTES TO THE FINANCIAL STATEMENTS 11. Designated Funds Opening Balance Closing Balance Income Expenditure Transfers Corporate Funds Missional Fund Elderly Prophetic Development Supernatural School 3,856 551 498 114 5,019 3,856 551 498 114 5,019 Local Church Funds Hub Hope Lifespring Tadley 186,741 195,507 37,205 80,314 499,767 217,531 255,786 92,112 108,493 673,922 (220,138) (62,947) {198,252) (55,691) (64,890) (18,911) 105,872 25,882 589,152 163,431 121,187 197,350 45,516 57,053 421,106 Total Deslgnated Funds 504 786 673 922 589 152 163,431 426 125 Corporate Funds: These are monies designated for a specific purpose by the Trustees. Local Church Funds: Tithes and Offerings are unrestricted funds but they are treated as designated as they come into each local church separately. Transfers are made to reflect costs paid centrally from general funds. 12. Restricted Funds Opening Balance Closing Balance Income Expenditure Transfers Specified Offerings Local Church Funds Hub Hope Lifespring Tadley 57,678 128,348 (108,146) 77,880 31,306 21,263 5,666 9,245 7,084 5,810 6,337 18,328 (17,925) (9,897) (6,855) (19,251) 20,465 17,176 5,148 8,322 Total 125,158 165,907 162,074 128,991 Specified offerings include all gifts indicated by the donor to be for specific purposes. Local Church Funds are given to the local churches for their use as indicated by the donor. Page 23
BASINGSTOKE COMMUNITY CHURCHES ANNUAL REPORT and FINANCIAL STATEMENTS For the year ended 31 March 2024 NOTES TO THE FINANCIAL STATEMENTS 13. Analysis of Net Assets Between Funds 2024 Unrestricted Funds General Designated Restricted Funds Total 2024 Fixed Assets Net Current Assets 377,989 1,005,228 1,383,217 377,989 1,560,344 1,938,333 426,125 426,125 128,991 128,991 2023 Unrestricted Funds General Designated Restricted Funds Total 2023 Fixed Assets Net Current Assets 393,264 982,613 1,375,877 393,264 1,612,557 2,005,821 504,786 504,786 125,158 125,158 14. Leases At the reporting end date the Charity had the following minimum lease payments under non-canGellable operating leases (all for equipment} which fall due as follows= 2024 2023 Expiring in less than one year Expiring in two to five years 548 137 685 570 114 684 Page 24
BASINGSTOKE COMMUNITY CHURCHES ANNUAL REPORT and FINANCIAL STATEMENTS For the year ended 31 March 2024 NOTES TO THE FINANCIAL STATEMENTS 15. STATEMENT OF FINANCIAL ACTIVITIES FOR THE PRECEDING YEAR (including Income & Expenditure Account) 2023 Total Funds Unrestricted Funds General Designated Restricted Funds INCOME AND ENDOWMENTS from.. Voluntary Income Gifts, donations and legacies Income Tax Refunds 1,842 510,741 108,813 619,554 202,820 715,403 108,813 824,216 1,842 202,820 Charitsble Activities 5,000 5,000 Investment Income 4,466 1,985 6,451 Total 6,308 626,539 202,820 835,667 EXPENDITURE on: Charitable Activities 213,479 593,216 176,017 982,712 Total 213,479 593,216 176017 982,712 Net Income I (Expenditure) 207,171 33,323 26,803 147,045 Transfers between funds 177,132 (177,132) Net Movement in Funds 30,039 143,809 26,803 147,045 Total Funds at 1 st April 2022 1,405,916 648,595 98,355 2,152,866 Totsl Funds carried forward at 31st March 2023 1,375,877 504,786 125,158 2,005,821 Page 25