Christian ChLirch Report and Financlal Statements For the year ended 31s1 March 2024 Registered Charity number: 1072823 Working Week Limited 2 West End Barlestone Warwickshire CV13 OEJ
Elohim Christian Church Report and Financial Statements For the year ended 31 St March 2024 Contonts Page Report of the Trustees Report of the Independent Examiner Statement of Financial Activities Balance Sheet Notes to the Financial Statements 7-10
Elohim Christian Church Report of the Trustees For the year ended 31st March 2024 The Trustees present their report together with the financial statements of the charity for the year ended 31 St March 2024 Organisatlonal structure Elohim Christian Church is constituted by a Declaration of Trust dated 22 August 1998 and is a registered charity, No. 1072823. Elohim Christian Church is a church which is affiliated to Kingdom Faith Church. Governance and Managem•nt The trustees are appointed by the church leadership team to oversee the work of the church. The trustees meet on a bi monthly basis and are supported by the paslor who is responsible for leading the pastoral work of the church. the employed stsff and volunteers. The trustee body aims to have a broad range of skills represented. in particular Christian dtrine. finance and working with charities. Objectlves and actlvltles Our primary aim and objective is to live by faith, to honour God and others, to live generously and to serve gladly! These aims and objectives are INed and outworked with a view to fulfilling and advancing the call of the church to make Jesus known and lead people into a growing relationship with Him. Clearly, as a church our gathering together to worship God, being strengthened by the preaching of the Bible. encouraging one another. and making way for those wishing to explore faith is of the utmost importance to us. In addition to our gathering together for Sunday services, these elements are also implemented through a number of groups and ministries,. to mention them all would cause this report to be longer than intended. so these are a few of the activities that take place.. Lunch Club provides a much loved and needed service to the elderly and less mobile in our community. The Hub Cafe offers a place for all ages to meet and enjoy drinks, snacks and light meals, along with toys for t(Kldlers. Identified Youth Ministry continues to offer an excellent standard of youth work across our area. The training and releasing of young leaders Is a hallmark of the work. Just for Kids children's ministry offers a number of exciting opportunities to primary aged children. such as hdiday dubs. and special events to ensure children have a fantastic time learning about how special they are to God, and that - with God's help - they can make a real difference in their world, despite being Overseas mission through Walk a Mile in Myshoes continues to support orphans in Uganda and the church plant in Kokkoa and children's work in Masindi. Food Pantry established to support families in the area who struggle to feed their families due to the cost of living crisis. Achievements and Performance Provided food for children during summer. Christmas and Easter holidays who Yuld normally have reIved free school meals. 69 families supported during the summer. 65 families supported at Christmas and 65 families supported at Easter. Food Pantry set up to supply emergency food ParlS as and when needed to people referred lo us by I1 authority officers and other charities. During the year 33 families were supported with emergency food hampers Grants were receivad from Severn Trent Community Fund, Leicestershire County Council, Rural Community Council and Hinckley and Bosworth Borough Council totalling £55.105. A Storehouse has been built for the storage of food needed to provide holiday food hampers and emergency food hampers. This was funded from the Severn Tnt grant. The Household Support Fund grant from Leicestershire County Council was used to purch8se food for food hampers. Warm welcome scheme provided for local residents who are adversely affected by the cost of living crisis, by providing a warm room and hot drinks and snacks.
Elohim Christlan Church Report of the Trustees For the year ended 31" March 2024 The trustees confirm that they have paid due regard to Charity Commission guid8nce on public benefit in deciding what activities to undertake. Flnancial review The net income for the year amounted to £923 (2023: net income £651). The net book value of fixed assets less the outstanding mortgage is shown in a fixed assets fund, in order to better represent the reserves breakdown. At 31st March 2024 the unrestricted funds carried forward £235,335 (2023: £235,335). The net income trom restricted funds was £34,776 (2023: £4.889). The balance on restricted funds after transfers amounts to £66.545 (2023.. £64,064). Volunteers make a huge contribution to the work of the charity and their work is much appreciated. Reserves policy The policy agreed by the trustees is to aim to hold in unrestricted r&seNes not committed or invested in tangible fixed assets (the 'free' reseNesl sufficient to cover the general overhead expenses and salary costs not specifically funded by external agencies, of £4.600. At this levd, the trustees feel that they would be able to continue the current activities of the charity in the event of a significant drop in funding. It would then be necessary to consider how the funding would be replaced or activities changed. The amount of 'free' reserves at 31 st March 2024 amounts to £30,112 and is equivalent to approximately 6.5 months overhead expenditure not specifically funded and excluding depreciation. Analysis of net assets among funds are disclosed in note 12 of the financial statements. Futurè dévelopments Continue to build upon community based initiatives started during the pandemic and the cost of living crisis. To continue growing the Church. Continue accelerated mortgage repayments to reduce the mortgage term as quickly as possible To further develop closer links with local authorities in our area to meet the needs of rural communities. Trustees The trustees holding office during the whole year unless otherwise stated were as follows: Pastor Faye Clarke Keith Flude Angus Mears Jamie Jordan Victoria Stoddart
Elohim Christian Church Report of the Trustees For the year ended 31st March 2024 Trustees, responsibilities in relab-on to the financial statements Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently. make judgments and estimates that are reasonable and prudent,. state whether applicable accnting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements," and prepare the financial statements on the going conrn basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping accounting records which disdose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the trustees on 20ZNk and signed on their behalf by Jy": Angus Mears Chair of the Trustees
Independent Examlner's Rèport to the Trustses of Elohim Christian Church I report on the accounts of Elohim Christian Church for Ihe year ended 31st March 2024. which comprise the statement of financi81 actlvities, the balance sheet and the related notes. Respectlve responsibililles of trustees and examlner The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for thls year under section 144 of the Charitiès Act 2011 (the Chartties Act} and that an independent examination is needed. It is my responsibilty to: examine the accounts under section 145 of the Charities ACL. to follow the procedures laid down in the general Directions glven by the Charity Commisslon (under section 145{5) (b) of the Charltles Act). and to state whether particular matters have Come to myattention. Ba818 of Ind•pendent examlner's report My examination was carried out in accordance with the General Directions given by the Charity Commission. An examlnation indudes a review of the accounting records kept by the tharity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disdosures in the accounts. and seeklng explanations from you as trustees conmIng any such matters. The procedures undertaken do not provKle all the evidence that would be requlred in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair, view and the report is limited to those matters set out in the ststement below. Independent examiner's stat•m•nt In connection with my examination, no matter has come to my attention: which gives me reasonable cause to believe that in any material respect the requlrernents to keep accounting records in accordance with section 130 of the 2011 Act,. and to prepare accounts which accord with the accounting records and to comply with the accounting requirements of Ihe Charities Act have not been met,. or 2. to which, in my opinion, attention should be drawn in order to enable a proper understsnding of the financial statements to be reached. Working Week Limlted 2 West End Barlestone Warwickshire CV13 OEJ 11
Elohim Chrlstian Church Statement of Flnanclal Activltles st For the year ended 31 March 2024 Notes Unrestricted Funds 2024 Restricted Funds 2024 Total 2024 Total 2023 Income Donations Income from charitsble activities Invvstment income 102,224 8,581 3,674 38,338 10 140,562 8.591 3.674 80.558 7,819 337 Totsl Income 114 79 152 827 88,714 Expendlture Expenditure on Charltable Actlviti68 Advancement of Christianity Community Outreach and Activities Support Costs Governance Costs 4a 73,042 5,509 34,705 300 3,171 76,213 5,509 35,106 300 55,686 5,012 27065 300 401 4d Total Expenditure 113,556 3,572 117 128 88.063 Net Incomel{Expondlture> 923 34,776 35,699 651 Transfers betwo¢n fvnds Net movement In funds 28,669 6,830 35,699 651 Totsl Funds Brought Forward Total Funds Carried Forward 239,734 59,715 299 449 298 798 268 603 335 148 299.449 Movements on all reserves and all recognised gains and losses are shown above. All of the organization's operations are classed as continuing. The notes form part of these financial statements
Elohim Christian Church Balance Sheet 31st March 2024 2024 2023 Nota Fixed assets Tangible assets 298,502 271,348 Current assets Debtors Cash at bank and in hand 3,929 96,596 100,525 1,573 91,681 93,254 Creditors: amounts falling due within one year 10 4,312 1,485 Nel current assets 96,213 91,769 Total assets less current liabilities 394,715 363,117 Creditors: arnounts falling due after more than one year 11 59,568 63,718 Net Assets 335,147 299,399 Funds Unrestricted and Designated Restricted 12a 12b 268,603 66,544 239.685 59,714 335,147 299,399 Approved by the Trustees ZCW and signed on their behalf by Angu ears Chair of th• Trustee8 The notes form part of these financial statements
Elohim Christian Church Notes to the Financial Statements For the year ended 31" March 2024 1. Accountlng Pollcla8 The financial slatements have been prepad in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Stsndard for Smaller Entities published on 16 July 2014 and the Financial Reporting Standard for Smaller Entities (effective April 2015). a) Accounting convention The financial statements are prepared under the historical cost convention, and on a going concem basis. bl Income recognition Income is recognised in the period to which it relates. c) Expanditure Expenditure is accounted for as it becomes due and has been allocated to a1VitieS on a basis consistent with the use of resources. d) Tanglble fixèd assèts Tangible fixed assets are stated in the balance sheet at their acquisition cost less accumulated depreciation. Depreciation is provided on all tangible fixed assets, to write off the cost less estlmated rvsidual value of each asset over its expected useful life as follows: Freehold land and buildings Furniture 20/0 on cost - 25% on cost e) Taxation The activities of the charity 8re exempt from taxation on the net incoming resources. Pension costs The charity operates a defined contribution pension scheme. Contributions payable for the year are charged to the Statement of Financial Acttvities in the perlod to which they relate. g) Funds Unrestricted funds are available to be used for purposes within the objects of the charity at the discretion of the trustees. Restrict&l funds can only be used for specific restricted purposes within the objects of the charity. The restrictions are specified by the donor or when funds are raised for particular restricted purposes. 2. Donatlons Unrestricted Restricted 2024 2024 Total 2024 Total 2023 General Church offerings Gift aid donations and gift Sid recovered Other grants, donations and sponsorship 9,170 70.287 22,767 2,012 3,521 32,805 11.182 73,808 55,572 16.911 51,887 11,710 102,224 38,338 140,562 80,508
Elohim Christian Church Notes to the Finan¢lal Statements {contlnued) For the year ended 31" March 2024 Unrestrfcted Restrlcted Funds Funds 2024 2024 Total Funds 2024 Total Funds 2023 Income from the charitable activities: Just 4 kids Food sales 886 7,706 8,592 7,695 11 7,137 8,581 11 7,819 Unrestricted Restricted Funds Funds 2024 2024 Total Funds 2024 Total Funds 2023 Charitable activlties a) Advancement of Chrlstlanlty Ministry Gifts Tithe Missions and evangelism 35,987 2,279 8,416 26,360 73.042 325 1,888 36,312 4,167 8,416 27,318 76,213 28,339 4,058 6,470 16,819 55,686 958 3,171 b) Community outreach and activitios Youth and children's work Adult Outreach Hub Cafe Just 4 kids ID Youth Afternoon Tea Memory Cafe Lite Bite Lunch 223 405 2.433 223 405 2.433 698 447 374 216 1,129 1,186 530 416 678 15 842 5,012 447 374 929 5,509 929 5,509 c) Support costs Building overheads Depreciation Mortgage interest Administration 13.228 9,131 4.713 7,633 94 13.322 9,131 4,713 7.940 8.240 8.095 3,939 6,792 307 34,705 401 35,106 27,066 d) Governance Costs Independenl Examination 300 300 300 300 300 300 Net Income The net incoming resources are stated after charging: Independent Examiners Fees Depreciation 2024 2023 300 300 9,131 8.095
Elohim Christian Church Notes to the Financial Statements (continued) st For the year ended 31 March 2024 Staff costs 2024 2023 Wages and salaries Pension costs 40,854 947 41.801 30,839 692 31,531 The average full time equivalent number of employees was as follows.. 2024 0.85 2023 Ministry Administration and support 0.4 Transactions with trustees and r•lat•d partias F. Clarke, trustee, was paid a salary of £31,560 (2023: £25,691) and pension contributions were made of £947 (2023: £692) Expenses amounting to £2.299 (2023: £1,442) were reimbursed to trustees during the year. Tangible fixed assets Freehold Property Fumiture Total Cost At 1 st April 2023 Additions Disposals At 31st March 2024 344.631 31,854 37,843 4,432 382,474 36,286 376,485 42,275 418,760 Depreclatlon At 1 st April 2023 Charge for year Released on disposals At 31st March 2024 76,980 7,211 34,147 1,920 111,127 9,131 84,191 36.067 120,258 Net book value At 31st March 2024 292,294 267.651 6,208 3,697 275,237 271,348 At 1 sl April 2023 Debtors 2024 2023 Debtors Prepayments 3,484 1,014 559 3.929 1,573 10. Creditors: amounts falling duo within one year 2024 2023 Creditors Accrued expenses 758 300 4,312 1,058
Elohim Christian Church Notes to the Flnancial Statements (continued) For the year ended 31" March 2024 11. Credltors: amounts falllng due aftor mora than one year 2024 2023 Mortgage Less: amounts falling due within one year 61,541 16,445) 63,718 (2,177) 55,096 61,541 The mortgage is due to Kingdom Bank Ltd and is secured on Elohim Christian Church, Newbold Road, Barlestone. Nuneaton. The mortgage term is 30 years and matures in 2039. Monthly repayments of £543 are being paid at an interest rate of 7.75 %. 12. Analysis of net assets among funds Unrestrlcted Funds Restricted Funds Total Funds Tangible Fixed Assets Cash at bank Other current assets Cuffent liabilities Creditors of more than one year 298,502 30,112 3,869 (4,312) (59,568) 268,603 298,502 96,596 3,929 (4.312) (59.568) 335,147 66,484 60 66,544 10