City Church (Cambridge) Annual Report & Financial Statements 2023-24
## **ANNUAL REPORT & FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2024**
**REGISTERED COMPANY NUMBER: 03741507 (ENGLAND AND WALES) REGISTERED CHARITY NUMBER: 1076291**
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City Church (Cambridge) Annual Report & Financial Statements 2023-24
## **1 OBJECTIVES AND ACTIVITIES**
## **1.1 Charitable Objectives**
Our charitable objectives are fully stated in the Memorandum and Articles of Association of City Church (Cambridge). They are to (within the County of Cambridgeshire and in such other parts of the United Kingdom or the world as the directors (or trustees) of the Charity may from time to time think fit ):
- Advance the Christian faith in accordance with our Statement of Beliefs.
- To relieve persons who are in conditions of need or hardship or who are aged or sick or who are homeless or living in unsatisfactory housing conditions and to relieve the distress caused thereby
- To advance education in accordance with Christian principles by such means as the trustees may consider appropriate including by means of establishing and operating any educational establishment or establishments
- To promote and fulfil other charitable purposes beneficial to the community
## **1.2 Mission – Why we exist**
Our vision as a local church in Cambridge and beyond is to be:
## **A Family of Disciples on a Mission through Multiplication**
## **1.3 Values – What we practise**
**GRACE** We want the grace of God to be characteristic of every aspect of our life as a church. (2 Corinthians 1:12; 2 Corinthians 9:8; Colossians 4:6; Titus 2:11)
**TEACHING** The Bible is our authoritative guide in all matters of faith and practice. We therefore place great importance on regular teaching from the scriptures when we meet together. (2 Timothy 3:16; Titus 2:1; Colossians 3:16; 1 Timothy 4:13)
**PRAYER** We see prayer as vital and fundamental to all we do. (Ephesians 6:18; Philippians 4:6; 1 Timothy 2: 1-2)
**SPIRITUAL GIFTS** When we come together to worship, we seek both the freedom and the order that are given by the Holy Spirit. (John 4:24; 1 Corinthians 14:39-40)
**WORSHIP** We are all called to be active participants in the worship, life and mission of the church, which is Christ’s body, God’s chosen instrument for the advancement of his Kingdom. (Romans 12:48; Ephesians 4:16)
**EVANGELISM** We want to demonstrate the love of God and share the good news about Jesus to people in our society. (Mark 12:31; Luke 9:2; Galatians 6:10; Romans 1:16)
**BAPTISM IN WATER** Those who repent and believe are to be baptised in water as a demonstration of death to sin and new life in Christ. (Matthew 28:19; Romans 6:2-4)
**BAPTISM OF THE HOLY SPIRIT** Baptism in the Spirit and being continually filled with the Spirit gives us close relationship with God and power for discipleship. (Acts 1:5; Ephesians 5:18)
**DISCIPLESHIP** As disciples of Christ, we are called to develop our relationship with God and to grow in character and maturity. (Galatians 5:22-26; Ephesians 4:13; 2 Timothy 3:14-17)
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City Church (Cambridge) Annual Report & Financial Statements 2023-24
**COMMUNITY** As a gathering of people who are committed to Jesus and to one another, we want to build godly relationships in our family units, in our small groups and in the wider church setting. (John 13: 34-35; Romans 15:7; Ephesians 5:21-6:4)
**COMMUNION** We break bread and drink wine together regularly to remember the death of Jesus and look forward to his return. (1 Corinthians 11:23-26)
**GIVING** One way we show our commitment to the church is by giving financially in proportion to our resources. (1 Corinthians 16:2; 2 Corinthians 9:7)
**INVOLVEMENT WITH RELATIONAL MISSION (the family of churches to which we belong, see 4.4)** The ministry of apostles, prophets, evangelists, pastors and teachers is recognised by us and welcomed among us. (Hebrews 13:17; Ephesians 4:11-12). We are committed to similarly releasing local members with these gifts to minister to other churches and supporting them financially where appropriate.
We both support Relational Mission (as a group and individuals within it) financially and collaborate with it e.g. to deliver conferences, training courses etc. for the building up of the churches within the RM family.
**UNITY** We are only part of the body of Christ and therefore welcome fellowship with all Christians. (Romans 15:7; 1 Corinthians 12:27)
## **1.4 Vision – Who we long to become**
## **1.4.1 Family**
We want to be a family. In our relationships together, and decisions towards one another, we want to behave as such. We are brothers and sisters and dearly loved children of God. We want to live generous, courageous, sacrificial, encouraging, Spirit-filled lives, as we love each other. We believe there is no sacred/secular divide and that every part of our lives belongs to God, and needs God. We love our Sunday gatherings, but know these are not sufficient in themselves to help us support each other in all of life. We are committed to living highly overlapping lives as we seek to create a culture which is full of good relationships, and is challenging and encouraging us to mature.
## **1.4.2 Disciples**
We want to be disciples of Jesus. We describe a disciple as one who is increasingly worshipping God, obeying Jesus, and being changed by the Spirit in all of life, as part of a church family, and is helping others to do the same. This is a life-long process that starts before salvation.
## **1.4.3 Mission**
We want to live as people who have been sent: with purpose. God sent the Son, and the Son sends us. Missional living is the adoption of the posture, thinking, behaviours and practices of a missionary (missionaries are not super-Christians – we’re all called to it), in order to engage others with the gospel message. All that we do must be gospel-centred.
## **1.4.4 Multiplication**
It takes longer to develop, equip and encourage a group of new leaders to lead a new initiative (multiplication of leadership) than it does simply to lead it yourself (addition to your workload), but it is more worthwhile, and ultimately more fruitful. This is what Jesus did.
If you want to go fast, go alone; if you want to go far, go together.
We don’t just want numerically big churches; we want “big” (i.e. spiritually mature and well-equipped) people.
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City Church (Cambridge) Annual Report & Financial Statements 2023-24
## **2 CHURCH ACTIVITIES AND ACHIEVEMENTS IN 2023-24**
## **2.1 Evangelism**
City Church is a family on mission together, and we aim to equip and encourage every member to share actively in this enterprise. This works out in practice as neighbours, work colleagues, friends and family come into proximity with people who are already participating in the life and mission of the church. In other words, those outside the church encounter and are blessed by people who are characterised by our core values of being loving and accepting, joyful and generous, compassionate and caring, hope-filled and encouraging, creative and inspiring, faithful and true.
At Christmas the church again distributed food and gift packages to those identified by local schools and The Besom in Cambridge (Registered Charity Number 1139723) as being in need of support and assistance.
We seek to give people, some of whom we have contacted during these activities, clear opportunities to explore the claims of Christ and Christianity.
We are confident that the good news of Jesus has made a difference to people’s lives when they make a public acknowledgement of their trust in Him by being baptised. During this year, we baptised three people.
## **2.2 Discipling, Training, Caring and Sending**
At the heart of the strategy for how City Church corporate life functions is an emphasis on numerically large weekly worship celebrations as well as much smaller relational groups, courses, and various other ministry activities. Our aim is that through praise, prayer, Bible study and witnessing, the people of the church will actively practise their Christian faith, being those who live and love others like Jesus did.
Training, equipping and caring for church attendees is a key component of our strategy to advance the Christian faith. Our Sunday worship services are a major feature in the life of the church and Bible teaching continues to be a key component of these times. We also record the talks and make them available from our website and also produce additional podcasts with more in-depth teaching.
Several of our members preach and teach by invitation for various churches in this region and beyond, and we continue to support financially two sets of people engaged in Christian work in the UK, and a further three groups of people working overseas.
## **2.2.1 Church Members**
The church relies heavily on the commitment of many volunteers in various areas of service such as serving the children and youth, leading small groups, teaching and leading worship in church meetings, etc. The church invests in the development of these volunteers by providing training sessions, coaching and mentoring training both to help them carry out their current duties and to equip them to take on greater responsibilities.
We contributed funding for four of our church members to participate in the Relational Mission (RM) leadership course (LEAD) this year.
While some leaders within the charity are volunteers, others are paid employees and we have continued to resource the training and development of this staff team.
## **2.2.2 Small Groups**
Our CG:Interest City Groups are groups of about 12 people with a leader who commit to meet together on a regular basis around a shared purpose or activity over a 10 or 12-week term and then, usually,
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City Church (Cambridge) Annual Report & Financial Statements 2023-24
come to an end. Some of these groups meet over Zoom to enable those with mobility or health restrictions to participate.
Our CG:Local City Groups are geographically based and more long-term. They aim to provide a warm welcome with a highly predictable time, place, and group of people who live in the same or nearby areas of Cambridge or the surrounding villages.
Over 230 people were signed up to a small group at City during this year.
## **2.2.3 Children**
April 2023- July 2023
For this term the CityKids GrowZone, ZoomRoom and PH Orange groups looked at Old Testament characters. Each week we learnt something about God's character. We had a God is…board and collected a word from the story which will be added to the board. For Example God is powerful, God is trustworthy.
The older CityKids PH Red group spent this term spending time exploring the adventure that is prayer, using the Lord's prayer as a starting point. We used a book written by Pete Greig called How to Pray. 12 Red group children also went on a Bushcraft social with Wildly Curious, with 3 team helpers.
Sept 2023- Dec 2023
We continued to run weekly groups at the morning service. This term we started a PH Red group to run at The Evening Service as well as having a PH Reds group in the morning.
In the two younger groups we ran a series on what God says about you, unpacking age appropriate Biblical truths with Bible stories, psalms, worship, prayer, games and playing together. PH Oranges started a new series - The Biggest Story Ever, looking at The Pentateuch.
PH Reds did a series on the book of Acts, The Holy Spirit at work.
In October 2023 we took the Reds on a residential weekend away to Carroty Wood in Kent. 5 leaders came and 13 children. As well as bible teaching on the book of Acts we did abseiling, swimming, sports, campfire and games!
In Dec 2023 we ran 2 catered nativity services. A team of approximately 25 people brought together fun activities, music, acting, puppeteering to share the story of the first Christmas with many from the church family and their friends.
Jan- March 2024
GrowZone and ZoomRoom spent the term unpacking some of the Parables that Jesus told. Collecting the books, forming a _Jesus library_ !
PH Oranges started their second term in the Biggest Story Ever series - looking at the History books of the Bible.
PH Reds dived into the story of Joseph, collecting T-shirts that helped tell the story over the course of the term.
In March 12 children from PH Reds went bowling with a team of 5 adults.
A team of 45 people served the children during this year and CityKids groups were attended by an average of 65 children.
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City Church (Cambridge) Annual Report & Financial Statements 2023-24
## **2.2.4 Youth**
Younger Youth:
April - July 2023: Meeting during The Morning Service, they looked at key doctrines for half a term, including: grace, escatology, election, incarnation and The Trinity and then moved on to apologetics, with questions such as "Should we take the Bible literally?", "How should Christians respond to Climate Change?" and "Does God care about my exam results?"
As this group had outgrown the space available, from September 2023, it moved to meeting during The Evening Service. Through the autumn term we ran a Youth Alpha course. The spring term was used to explore a series of topics related to identity and relationships.
Older Youth:
This group continued to meet on Monday evenings during term time. Increased session length from 7pm-8.15pm to 7pm-8.30pm in September 2023 to allow for more time for socialising alongside the discussion topics/Bible study.
Topics:
Summer Term 2023: Worship
Autumn term 2023: First half: "Being a disciple", second half: Ephesians - sessions led by the youth themselves!
Spring term 2024: A series on identity and relationships
A highlight of the year was in the summer when 37 youth plus leaders camped together for the week at the NewDay Generation event.
The team of mentors continued this year to hold 1-to-1 meetings with the youth to support them, pray together and grow deeper relationships to be able to support the young person through their last few years of school.
## **2.2.5 Growth**
The church family in Cambridge has welcomed 25 adults into active membership during this year. ‘Church Members’ are those who have chosen to express commitment through small group involvement, financial support and practical service within the church. Services and other meetings, including the majority of the City Groups, are open to all, not just the membership.
City Church prizes the fact that through its membership demographic we are able to express considerable diversity in unity. Current members come from over 20 different nations with a socioeconomic heritage that reflects the broad cross-spectrum that is found in the city of Cambridge and the surrounding areas.
## **2.2.6 Church Planting**
Jubilee Church, Ely our church plant, continued to meet on Sundays at Ely Beet Sports & Social, bought a redundant chapel in central Ely to use for office and meeting space, known as Jubilee Centre, and also became a separate church with its own elders and governing charity during this year!
## **2.2.7 Community Outreach**
In April 2023, a team of people from City Church spent a day working in our nearby River Lane estate. We helped in 3 gardens, assembled a trampoline, litter picked, and spent time doing crafts with families and others from the estate. It ended with a free community barbecue. It was wonderful to renew some old relationships, and meet new friends. We received a really warm welcome on the estate.
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City Church (Cambridge) Annual Report & Financial Statements 2023-24
In July, we joined with other churches in the Abbey Ward, Barnwell Baptist and Christ the Redeemer, to help at the Ditton Fields Community Day in Barnwell. A few people from City helped with clearing rubbish, and we provided a free community barbecue, which was enjoyed by lots of people from the estate, as well as council workers who were also helping with the day.
In December, many from the church were involved in donating money and food items to make up 66 Christmas hampers. These were delivered by members of the church to families in Cambridge, Cambourne, Bottisham, Hardwick, Sawston, Trumpington and Waterbeach.
In February, we joined with Love Barnwell, the new initiative set up by Barnwell Baptist and Christ the Redeemer Church, to help redecorate some rooms for a family on River Lane.
In May, a small group from City Church also helped at the community day on Thorpe Way, in conjunction with Love Barnwell.
## **2.3 Public Benefit Statement**
The Trustees have due regard for the public benefit guidance published by the Charities Commission. Specifically, they have studied the following Charity Commission documents and believe that the activities of the Charity and the contents of this report are compliant with the public benefit guidance provided therein.
- Charitable purposes and public benefit (PB1, PB2 and PB3) (September 2013)
- The Advancement of Religion for the Public Benefit (December 2008)
- The Prevention or Relief of Poverty for the Public Benefit (December 2008)
- Charity Reporting and accounting: the essentials (CC15c) (March 2015)
Note that the great majority of the Charity’s meetings and events are open to the public. Indeed, it is a key aim of the Charity to attract newcomers into the various activities of the church so that they can participate in and benefit from all that the church has to offer. The Charity values the diversity currently evidenced by the church membership and the wider community of those who interact directly with City Church, and is hopeful of seeing the diverse demographic of the Cambridge area fully reflected in the City Church ‘population’. Likewise, the vast majority of City Church events and activities can be accessed free of charge. Where a charge has to be made, every effort is made (e.g. by some form of subsidy) to ensure that cost does not exclude those to whom the activity would be especially beneficial.
In addition, we want to ensure the church continues to serve those living in Abbey Ward, in which the church has its premises. Abbey Ward is a diverse area of Cambridge City with several large housing estates which show levels of deprivation above the county average. We seek to serve our community in many ways to communicate and model the Christian faith.
## **2.4 Grant Making**
This year we have continued to support the advance of the Christian faith in our immediate locality, within the United Kingdom and across the world. This support is directed to the training of Christian workers, the planting of new churches, the financial support of existing churches, the relief of the disadvantaged and the pastoral care of Christian workers serving overseas.
In this regard we were able to donate £11462 to Relational Mission (Registered Charity Number 1150583 in England and Wales), the family of churches to which we belong, to assist in their envisioning and support of existing churches and elders of churches, and the establishing of new churches in the United Kingdom and in further strategic international locations. We separately
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City Church (Cambridge) Annual Report & Financial Statements 2023-24
donated £11462 each to the individual ministries of the three apostolic leaders of Relational Mission ( Mike Betts, via Relational Mission, Maurice Nightingale (Pioneer Mission, Registered Charity Number 1191719) and Stef Liston (via Revelation Church - London, Registered Charity Number 1120790).
Our financial support to three individuals or families engaged in Christian work overseas was continued, and this year the total support grants for our overseas volunteers amounted to £16138. We also gave a travel bursary to a family joining a discipleship course with YWAM, and to another church member travelling to Budapest to train church leaders enrolled in a European Leadership Forum mentorship scheme.
We also financially supported two sets of people engaged in Christian work within the UK, and during this year this amounted to £4792.
City Church continued its support of joint church ventures and Christian organisations committed to the advancement of Christianity and the welfare of the wider community within the city of Cambridge and beyond in the UK.
Recipients this year included:
- The Evangelical Alliance (Registered Charity Number 212325 in England and Wales), the body serving evangelical Christians in the UK to present Christ as good news for spiritual and social transformation. £280 donated.
- Hope into Action (Registered Charity Number 1137686 in England and Wales), which enables churches to house the homeless. £2200. donated.
- Hope Cambridge (Registered Charity Number 1125327 in England and Wales), which is a local inter church organisation. £220 donated.
- Newday Generation UK (Registered Charity Number 1203287 in England and Wales), which runs the Newday festivals. £5000 donated.
We seek to bless churches and missional work in other countries too. During this financial year, we were able to donate £1300 to the new Life Church, Nijmegan (www.plantnijmegen.com), £1500 to Joining Hands (a charity supporting work in India and elsewhere, including training pastors in East Africa) and £1500 to Good News Church in Nis, Serbia (https://goodnewsserbia.com/).
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City Church (Cambridge) Annual Report & Financial Statements 2023-24
## **3 FINANCIAL REVIEW**
## **3.1 Donations**
The church members and adherents of City Church, and the Jubilee, Ely church plant, continue to be very faithful and generous in their voluntary financial support. The City Church ‘funding source’, comprising over 150 donors (individuals and married couples), accounted for 94% of the church’s General Fund income and exceeded our budgeted income figure this year, for which we are very grateful.
Donations from Jubilee church plant attendees (and donated for the church plant by others) were held in a restricted fund until the formation of the Jubilee Church, Ely as a separate church, at which time they were transferred.
City Church was also grateful for a grant of £10,000 from the trust of a former church as it’s trustees wound up its financial affairs.
## **3.2 Investments**
The Charity does not hold substantial investments. Assets such as the Reserve Fund are invested as cash in various interest-bearing bank accounts. The choice of such accounts is aimed at maximising interest whilst maintaining the necessary degree of access. Consideration is also given to ethical and environmental issues in choosing investment institutions. Money is actively moved between accounts in order to optimise returns.
## **3.3 Expenditure**
The year was started with a conservative General Fund expenditure budget due to concerns that donations were relatively low during the latter part of 2022 and the first months of 2023. Following an increase in monthly donations, a more ambitious budget was adopted during the second half of the year. Expenditure came in under this second budget leading to a small surplus in the General Fund.
## **3.4 Reserves Policy**
The company’s policy is to hold a reserve of a minimum of two months’ average unrestricted expenses.
The reserve is managed as a separate fund. At the start of each financial year the directors will determine what the required level of the reserve is, based on the forecasted level of monthly unrestricted expenses and any other factors that they are aware of. If the current level is below that target amount, the annual budget will include provision to transfer money from the General Fund to the reserve to reach the desired amount.
At the end of the financial year any shortfall in the General Fund would be balanced by a transfer from the reserve and any surplus could be transferred to the reserve. The amount held in the reserve is therefore managed via the General Fund budgeting process. Unbudgeted expense items and Capital purchases are expressly managed in regard to their impact on reserves and the pursuance of the Charity’s objectives.
Any transfer to or from the reserve fund must be authorised by the directors.
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City Church (Cambridge) Annual Report & Financial Statements 2023-24
## **3.5 Future plans**
There are currently no uncertainties about City Church’s ability to continue as a going concern, and no funds are in deficit.
## **4 STRUCTURE, GOVERNANCE & MANAGEMENT**
## **4.1 Governing Document**
The Charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The company was incorporated and registered on 25 March 1999.
## **4.2 Organisational Structure**
The Directors of City Church have overall legal and financial responsibility for the Charity and act as its Trustees. They have entrusted to the Elders the responsibility for the spiritual and strategic direction and the day-to-day running of the church. One of the Elders continued this year to serve as a Director to ensure a high level of liaison and cohesion between the two groups. Additionally, the Lead Elder meets with the Directors regularly.
The Directors meet regularly to review the financial position of the Church, to discuss any financially or legally significant changes, and to ensure that good practice is maintained in regard to the Charity’s various legal responsibilities.
There were 14 members in the paid staff team during this year but with 11 of those being part-time, this was the equivalent of 7 full-time heads over the year. This team included two full-time Elders (who oversee many of the church ministries alongside their volunteer and part-time “co-“ Elders), our church plant lead and administrator both based in Ely, and Cambridge-based financial and administrative staff.
Budgetary control and volunteer recruitment for different ministry areas has been delegated to the leaders of those ministries, whether paid staff or volunteers, but remains overseen by an Elder.
## **4.3 Recruitment & Appointment of New Trustees**
Trustees are recruited from within the church membership of City Church. They should be active, reliable members of reasonably long standing. They should be people who clearly demonstrate their understanding and commitment to the vision and values of the church. Furthermore they need to be people who are deemed to have competence commensurate with the fulfilment of the responsibilities of Trustees. New Trustees are proposed by existing Trustees, in consultation with the church Elders. Trustees are appointed to serve for a period of three years. At the end of each three year period there is an option on both sides to renew the appointment, or to stand down. The Articles of Association prevent a majority of Trustees from receiving remuneration or other benefits for services rendered to the Charity.
## **4.4 Relationships & Related Parties**
City Church (Cambridge) is a member of the Evangelical Alliance (Registered Charity Number 212325) and is an autonomous part of the family of churches known as Relational Mission (Registered Charity Number 1150583). The apostolic leaders of Relational Mission are part of the Newfrontiers
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City Church (Cambridge) Annual Report & Financial Statements 2023-24
group (in the UK, Registered Charity Number 1060001). These affiliations have no effect on the operating policies of the Church.
## **4.5 Major Risks to the charity**
Acknowledging that the responsibility for risk management lies with the directors, and the risk register developed following a model developed for churches by Stewardship Services, is kept under review by the directors. The more serious risks identified in this process, and the related existing controls and mitigations, and any subsequently required changes to policies, and management and operational procedures have been recorded in the minutes of the Directors’ Meetings. These policy and procedure documents are reviewed by the directors after each change. The directors also oversee the periodic monitoring of how the various control systems are being complied with, and followed by, the employees and volunteers of the church.
As one of the major risks to the organisation is the potential loss of voluntary donations, income trends are monitored on a monthly basis by the directors and they have developed a plan for how to reduce church expenditure should this risk become a reality.
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City Church (Cambridge) Annual Report & Financial Statements 2023-24
## **5 REFERENCE AND ADMINISTRATIVE DETAILS**
## **5.1 Registration Details**
Name: Registered Company Number (England and Wales): Registered Charity Number (England and Wales): Registered and Principal Office:
City Church (Cambridge) 03741507 1076291 Brickfields House 15-16 Cheddars Lane Cambridge CB5 8LD
## **5.2 Trustees for the purposes of charity law and directors for the purposes of company law**
Matthew Waterson (Chair) Ken Dickson John Hall Gbenga Kazeem Andrew Sharpe Kathryn Thomas
## **5.3 Elders of the church**
Daniel Goodman Simeon Dry Jon Ogborn Matthew Waterson Dan Gould Matt Fell Alex Boes
## **5.4 Key Advisors**
Independent Examiners:
Marsh Solutions Ltd 82 Berechurch Hall Road Colchester Essex CO2 8RF
Solicitors:
Tees Law Titan House Castle Park Castle Street Cambridge CB3 0AY
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City Church (Cambridge) Annual Report & Financial Statements 2023-24
## **5.5 Audit Exemption Statement**
For the year ending 31/03/2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
This report has been prepared in accordance with the Charities SORP (FRS 102) second edition applicable for reporting periods beginning on or after 1 January 2019.
Approved by the trustees and directors and signed on their behalf
09/11/24 ............................................. Date: .............................................
Kathryn Thomas – Trustee, Director and Company Secretary
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**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CITY CHURCH CAMBRIDGE**
## **Independent examiner's report to the trustees of City Church Cambridge ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Accounting Technicians, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts 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)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
## Ouss>
Christopher Marsh MAAT
The Association of Accounting Technicians
Marsh Solutions Limited 82 Berechurch Hall Road Colchester Essex CO2 8RF 11/11/24 Date: .............................................
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**CITY CHURCH CAMBRIDGE**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the year ended 31 March 2024**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**Charitable activities**
5
Church running costs
Other trading activities
3
Investment income
4
**Total**
**EXPENDITURE ON**
**Charitable activities**
6
Church running costs
**NET INCOME/(EXPENDITURE)**
**Transfers between funds**
15
**Net movement in funds**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
£
554,990
11,700
11,035
4,198
581,923
527,156
54,767
(3,184)
51,583
373,695
425,278|Restricted
funds
£
83,509
552
-
-
84,061
232,809
(148,748)
3,184
(145,564)
555,059
409,495|31.3.24
Total
funds
£
638,499
12,252
11,035
4,198
665,984
759,965
(93,981)
-
(93,981)
928,754
834,773|31.3.23
Total
funds
£
525,176
12,349
11,686
180
549,391
643,876
(94,485)
-
(94,485)
1,023,239
928,754|
|---|---|---|---|---|
## **CONTINUING OPERATIONS**
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
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## **CITY CHURCH CAMBRIDGE (REGISTERED NUMBER: 03741507)**
## **BALANCE SHEET**
## **31 March 2024**
|Notes
**FIXED ASSETS**
Tangible assets
12
**CURRENT ASSETS**
Debtors
13
Cash at bank
**CREDITORS**
Amounts falling due within one year
14
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
15
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
funds
£
106,793
37,872
289,346
327,218
(8,734)
318,484
425,277
425,277|Restricted
funds
£
403,086
1,670
6,312
7,982
(1,572)
6,410
409,496
409,496|31.3.24
Total
funds
£
509,879
39,542
295,658
335,200
(10,306)
324,894
834,773
834,773
425,277
409,496
834,773|31.3.23
Total
funds
£
591,743
29,630
327,214
356,844
(19,833)
337,011
928,754
928,754
373,695
555,059
928,754|
|---|---|---|---|---|
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 members have not required the 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 trustees acknowledge their responsibilities for
- (a) ensuring that the 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 state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 16
continued...
## **CITY CHURCH CAMBRIDGE (REGISTERED NUMBER: 03741507)**
## **BALANCE SHEET - continued 31 March 2024**
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 Board of Trustees and authorised for issue on 09/11/24 ............................................. and were signed on its behalf by:
## KX Fiera
............................................. K Thomas - Trustee
............................................. M Waterson - Trustee
The notes form part of these financial statements
Page 17
**CITY CHURCH CAMBRIDGE**
|**CASH FLOW STATEMENT**
**for the year ended 31 March 2024**
Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash used in operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Sale of intangible fixed assets
Sale of tangible fixed assets
Interest received
Net cash used in investing activities
**Change in cash and cash equivalents in**
**the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end of**
**the reporting period**|31.3.24
£
(31,040)
(31,040)
(4,714)
-
-
4,198
(516)
(31,556)
327,214
295,658|31.3.23
£
(20,840)
(20,840)
(46,627)
(58,328)
58,028
180
(46,747)
(67,587)
394,801
327,214|
|---|---|---|
The notes form part of these financial statements
Page 18
**CITY CHURCH CAMBRIDGE**
## **NOTES TO THE CASH FLOW STATEMENT for the year ended 31 March 2024**
## **1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**ACTIVITIES**|||||
|---|---|---|---|---|
||||31.3.24|31.3.23|
||||£|£|
|**Net expenditure for the reporting period (as per the Statement of**|||||
|**Financial Activities)**|||(93,981)|(94,485)|
|**Adjustments for:**|||||
|Depreciation charges|||86,578|18,301|
|Loss on disposal of fixed assets|||-|58,328|
|Interest received|||(4,198)|(180)|
|Increase in debtors|||(9,912)|(8,642)|
|(Decrease)/increase in creditors|||(9,527)|5,838|
|**Net cash used in operations**|||(31,040)|(20,840)|
|**ANALYSIS OF CHANGES IN NET FUNDS**|||||
||At|1.4.23|Cash flow|At 31.3.24|
|||£|£|£|
|**Net cash**|||||
|Cash at bank|327,214||(31,556)|295,658|
||327,214||(31,556)|295,658|
|**Total**|327,214||(31,556)|295,658|
## **2. ANALYSIS OF CHANGES IN NET FUNDS**
The notes form part of these financial statements
Page 19
**CITY CHURCH CAMBRIDGE**
## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2024**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements and assessment of going concern**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
The financial statements are presented in sterling (£).
## **Critical accounting judgements and key sources of estimation uncertainty**
In preparing financial statements it is necessary to make certain judgements, estimated and assumptions that affect the amounts recognised in the financial statements. The following judgements and estimates are considered by the trustees to have most significant effect on amounts recognised in the financial statements. Useful economic life of tangible fixed assets:
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Commercial buildings - 10% on reducing balance AV Equipment - 20% on cost Fixtures and fittings - 10% on cost Computer equipment - 25% on cost
Only items over £500 are capitalised and depreciated by the charity.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Debtors**
Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.
## **Cash at bank and in hand**
Cash at bank and in hand includes cash, current bank accounts and deposit bank accounts with no withdrawal limitations.
continued...
Page 20
**CITY CHURCH CAMBRIDGE**
**NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2024**
## **1. ACCOUNTING POLICIES - continued**
## **Taxation**
## **Creditors**
Creditors are recognised where then charity has a present obligation resulting from a past event that will result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount.
## **Fund accounting**
Unrestricted funds are those available for use at the discretion of the directors in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund.
Designated funds are earmarked by the directors for particular purposes.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **Financial instruments**
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **2. DONATIONS AND LEGACIES**
## **3.**
|General gift income
Gift aid donations
Charities Aid Foundation
Gift day income
**OTHER TRADING ACTIVITIES**
Premises Income|31.3.24
£
73,649
514,572
26,467
23,811
638,499
31.3.24
£
11,035|31.3.23
£
43,608
453,900
26,314
1,354|
|---|---|---|
|||525,176|
|||31.3.23
£
11,686|
continued...
Page 21
**CITY CHURCH CAMBRIDGE**
## **NOTES TO THE FINANCIAL STATEMENTS - continued**
## **for the year ended 31 March 2024**
|**4.**
**INVESTMENT INCOME**
Deposit account interest
**5.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Admin income
Church running costs
Training income
Church running costs
Visiting speaker income
Church running costs
Children & Youth work
income
Church running costs
Events Income
Church running costs
**6.**
**CHARITABLE ACTIVITIES COSTS**
Church running costs
**7.**
**SUPPORT COSTS**
Church running costs
**8.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
Deficit on disposal of fixed assets
Independent examiners fees|31.3.24
£
4,198
31.3.24
£
195
-
5,907
4,987
1,163
12,252
Support
Direct
costs (see
Costs
note 7)
£
£
757,631
2,334
Governance
Finance
costs
£
£
184
2,150
31.3.24
£
86,578
-
2,150|31.3.23
£
180
31.3.23
£
355
1,257
7,378
3,359
-
12,349
Totals
£
759,965
Totals
£
2,334
31.3.23
£
18,301
58,328
2,150|
|---|---|---|
continued...
Page 22
**CITY CHURCH CAMBRIDGE**
## **NOTES TO THE FINANCIAL STATEMENTS - continued**
## **for the year ended 31 March 2024**
## **9. TRUSTEES' REMUNERATION AND BENEFITS**
|**TRUSTEES' REMUNERATION AND BENEFITS**|||
|---|---|---|
||31.3.24|31.3.23|
||£|£|
|Trustees' salaries|26,027|24,487|
|Trustees' social security|2,337|2,252|
|Trustees' pensions paid|1,822|1,714|
||30,186|28,453|
## **Trustees' expenses**
Expenses either reimbursed to, or paid on behalf of, Trustees were mainly in respect of travel expenses, conferences and office refurbishment relating to roles other than those of trusteeship.
## **Key management personnel**
The charity consider its key management personnel to comprise the trustees and elders.
The total remuneration for Key Management Personnel for the year was £150,876 (2023: £143,430). This comprises gross pay £128,015, employer's NI contribution £13,900 and employer's pension contributions of £8,690.
## **Key Management Personnel's expenses**
Expenses either reimbursed to, or paid on behalf of the Key Management Personnel were directly relating to the Charities activities.
## **10. STAFF COSTS**
|Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Full time equivalent|
|31.3.24
£
260,087
10,744
16,371
287,202
31.3.24
7||31.3.23
£
267,484
13,005
16,530|
|---|---|---|---|---|
|||||297,019|
|||||31.3.23
7|
No employees received emoluments in excess of £60,000.
continued...
Page 23
**CITY CHURCH CAMBRIDGE**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2024**
|**11.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
463,897
**Charitable activities**
Church running costs
12,293
Other trading activities
11,686
Investment income
180
**Total**
488,056
**EXPENDITURE ON**
**Charitable activities**
Church running costs
527,140
**NET INCOME/(EXPENDITURE)**
(39,084)
**Transfers between funds**
(14,265)
**Net movement in funds**
(53,349)
**RECONCILIATION OF FUNDS**
Total funds brought forward
427,044
**TOTAL FUNDS CARRIED FORWARD**
373,695
**12.**
**TANGIBLE FIXED ASSETS**
Fixtures
Commercial
AV
and
buildings
Equipment
fittings
£
£
£
**COST**
At 1 April 2023
986,903
14,714
95,693
Additions
-
-
2,920
At 31 March 2024
986,903
14,714
98,613
**DEPRECIATION**
At 1 April 2023
446,993
1,457
66,512
Charge for year
69,888
1,615
10,138
At 31 March 2024
516,881
3,072
76,650
**NET BOOK VALUE**
At 31 March 2024
470,022
11,642
21,963
At 31 March 2023
539,910
13,257
29,181||
Restricted
funds
£
61,279
56
-
-
61,335
116,736
(55,401)
14,265
(41,136)
596,195
555,059
Computer
equipment
£
16,941
1,794
18,735
7,546
4,937
12,483
6,252
9,395|Total
funds
£
525,176
12,349
11,686
180
549,391
643,876
(94,485)
-
(94,485)
1,023,239
928,754
Totals
£
1,114,251
4,714
1,118,965
522,508
86,578
609,086
509,879
591,743|
|---|---|---|---|
|||||
|||||
|||||
|||||
|||||
|||||
continued...
Page 24
**CITY CHURCH CAMBRIDGE**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2024**
## **13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade debtors
Other debtors
Prepayments
**14.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Social security and other taxes
Other creditors
Accrued expenses
**15.**
**MOVEMENT IN FUNDS**
Net
movement
At 1.4.23
in funds
£
£
**Unrestricted funds**
General fund
366,191
63,447
Self Funding
254
(1,431)
Church Planting
7,250
(7,250)
373,695
54,766
**Restricted funds**
Members
(2,470)
851
Gift Days
19
(26)
Building Fund
457,933
(54,847)
Designated Gifts
129
121
MF Africa
4,892
(1,500)
Community Outreach
2,542
(349)
Church Planting
92,014
(93,012)
Hardship Fund
-
15
555,059
(148,747)
**TOTAL FUNDS**
928,754
(93,981)|31.3.24
£
11,645
26,864
1,033
39,542
31.3.24
£
-
3,610
594
6,102
10,306
Transfers
between
funds
£
(4,361)
1,177
-
(3,184)
2,217
7
-
(38)
-
-
998
-
3,184
-|31.3.23
£
12,213
17,417
-
29,630
31.3.23
£
1,982
5,170
8,031
4,650
19,833
At
31.3.24
£
425,277
-
-
425,277
598
-
403,086
212
3,392
2,193
-
15
409,496
834,773|
|---|---|---|
Page 25
continued...
**CITY CHURCH CAMBRIDGE**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2024**
## **15. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Self Funding
Church Planting
**Restricted funds**
Members
Gift Days
Building Fund
Designated Gifts
MF Africa
Community Outreach
Church Planting
Hardship Fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
Self Funding
Church Planting
**Restricted funds**
Members
Gift Days
Building Fund
Designated Gifts
MF Africa
Community Outreach
Church Planting
**TOTAL FUNDS**|At 1.4.22
£
418,722
1,072
7,250
427,044
-
4,688
510,120
-
4,892
2,805
73,690
596,195
1,023,239||Incoming
resources
£
580,985
938
-
581,923
11,522
3,079
-
1,586
-
2,387
64,997
490
84,061
665,984
Net
movement
in funds
£
(39,338)
254
-
(39,084)
(2,788)
(4,607)
(52,186)
(115)
-
(263)
4,558
(55,401)
(94,485)||Resources
expended
£
(517,538)
(2,369)
(7,250)
(527,157)
(10,671)
(3,105)
(54,847)
(1,465)
(1,500)
(2,736)
(158,009)
(475)
(232,808)
(759,965)
Transfers
between
funds
£
(13,193)
(1,072)
-
(14,265)
318
(63)
-
244
-
-
13,766
14,265
-|Movement
in funds
£
63,447
(1,431)
(7,250)
54,766
851
(26)
(54,847)
121
(1,500)
(349)
(93,012)
15
(148,747)
(93,981)
At
31.3.23
£
366,191
254
7,250
373,695
(2,470)
18
457,934
129
4,892
2,542
92,014
555,059
928,754|
|---|---|---|---|---|---|---|
||||||||
||||||||
||||||||
Page 26
continued...
**CITY CHURCH CAMBRIDGE**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2024**
## **15. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Self Funding
**Restricted funds**
Members
Gift Days
Building Fund
Designated Gifts
Community Outreach
Church Planting
**TOTAL FUNDS**|Incoming
resources
£
486,800
1,256
488,056
15,190
1,366
-
955
763
43,061
61,335
549,391|Resources
Movement
expended
in funds
£
£
(526,138)
(39,338)
(1,002)
254
(527,140)
(39,084)
(17,978)
(2,788)
(5,973)
(4,607)
(52,186)
(52,186)
(1,070)
(115)
(1,026)
(263)
(38,503)
4,558
(116,736)
(55,401)
(643,876)
(94,485)|
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
|At 1.4.22
£
**Unrestricted funds**
General fund
418,722
Self Funding
1,072
Church Planting
7,250
427,044
**Restricted funds**
Members
-
Gift Days
4,688
Building Fund
510,120
Designated Gifts
-
MF Africa
4,892
Community Outreach
2,805
Church Planting
73,690
Hardship Fund
-
596,195
**TOTAL FUNDS**
1,023,239|Net
movement
in funds
£
24,109
(1,177)
(7,250)
15,682
(1,937)
(4,633)
(107,033)
6
(1,500)
(612)
(88,454)
15
(204,148)
(188,466)|Transfers
between
funds
£
(17,554)
105
-
(17,449)
2,535
(56)
-
206
-
-
14,764
-
17,449
-|At
31.3.24
£
425,277
-
-
425,277
598
(1)
403,087
212
3,392
2,193
-
15
409,496
834,773|
|---|---|---|---|
continued...
Page 27
**CITY CHURCH CAMBRIDGE**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2024**
## **15. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
||Incoming|
Resources|Movement|
|---|---|---|---|
||resources|
expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|1,067,785|(1,043,676)|24,109|
|Self Funding|2,194|(3,371)|(1,177)|
|Church Planting|-|(7,250)|(7,250)|
||1,069,979|(1,054,297)|15,682|
|**Restricted funds**||||
|Members|26,712|(28,649)|(1,937)|
|Gift Days|4,445|(9,078)|(4,633)|
|Building Fund|-|(107,033)|(107,033)|
|Designated Gifts|2,541|(2,535)|6|
|MF Africa|-|(1,500)|(1,500)|
|Community Outreach|3,150|(3,762)|(612)|
|Church Planting|108,058|(196,512)|(88,454)|
|Hardship Fund|490|(475)|15|
||145,396|(349,544)|(204,148)|
|**TOTAL FUNDS**|1,215,375|(1,403,841)|(188,466)|
## **Fund Descriptions**
## Unrestricted:
Self Funding - Projects and Events which
Church Planting - funds received to help the establishment of new churches (NB I thought this should be restricted as we were receiving Ely-specific donations (especially after a Gift Day specifically for their building purchase), and only using the money for the Ely church-plant's running costs etc)
## Restricted:
Members - deals with gifts received to provide additional financial support for individuals or organisations approved by the trustees
as being those who are working in accordance with our charitable objectives.
Gift Days - one-off charitable purposes
Building Fund -capital costs of site purchases and development
Designated Gifts - deals with gifts received so that they may be passed on (usually anonymously) to named individuals within the church family.
MF Africa - Initially set up to cover an elder's travel expenses for participating in a School of African Leadership run by Edfri International.
In Feb 23, an application was made to the Charities Commission to repurpose this fund so that grants can be made directly to Edfri
International for their projects dealing with poverty relief.
Community Outreach - local outreach projects
Church Planting - funds received to help the establishment of new churches, including the Jubilee Church Ely plant
Hardship Fund - funds received to pass on to individuals for poverty relief
continued...
Page 28
**CITY CHURCH CAMBRIDGE**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2024**
## **16. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2024.
## **17. GUARANTEE STATUS**
The company is limited by guarantee, which means that every member undertakes to contribute to the assets of the company in the event of a winding up, including any members up to one year after ceasing to be a member, such amounts as may be required not exceeding ten pounds.
Page 29