Company Registration Number 03734147 Charity Registration Number 1076821
JUBILEE CHURCH TEESSIDE
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
JUBILEE CHURCH TEESSIDE (A Company Limited by Guarantee)
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
| Pages | |
|---|---|
| Report of the Trustees/Directors | 1 to 3 |
| Independent Examiner’s Report to the Trustees | 4 |
| Statement of Financial Activities/Summary Income and Expenditure Account | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 13 |
Page 1
JUBILEE CHURCH TEESSIDE (A Company Limited by Guarantee)
REPORT OF THE TRUSTEES/DIRECTORS FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their report and unaudited financial statements of the charitable company for the year ended 31 March 2024.
The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity’s governing documents, the Charities Act 2011 and ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standards applicable in the UK and Republic of Ireland’, published in October 2019.
Trustees of the Charity
The directors of the charitable company are its trustees for the purposes of charity law. Details of the trustees who have served during the year and since the year end can be found on page 3.
OBJECTS AND ACTIVITIES
The principal object of the charity is the advancement of the Christian faith. Others are:
-
To relieve people in need, hardship or distress.
-
To educate and assist young people, through their leisure time activities, so as to develop their physical, mental and spiritual capacities.
-
To advance education in family life, marriage and family relationships.
-
To advance Christian religious education and training.
The trustees regularly review the objectives and activities of the charity and, as part of this review, they have considered the Charity Commission’s general guidance on public benefit and, in particular, its supplementary guidance on the advancement of religion for the public benefit.
ACHIEVEMENTS AND PERFORMANCE
The charity operates a local church and carries out a wide range of activities in pursuance of its charitable aims. The trustees consider that the activities, as summarised below, provide benefit both to active members of the church and to the wider community.
During the year under review, the main areas of progress and achievement included:
-
Ongoing participation in the national ‘Alpha’ evangelism/outreach initiatives.
-
The granting of loans and gifts to individuals in need and other charitable organisations with similar objectives.
-
Continued development of children’s work, teenage/youth work and student initiatives.
-
Arranging, assisting and supporting church members in attending various conferences and training events.
-
Continued expansion and development of the basic pastoral/care network.
-
Ongoing work towards multi-cultural integration across the church.
-
Supporting church leaders to undertake apostolic ministry and overseas mission trips.
-
Supporting church leaders overseas to develop their Christian ministries.
-
Engaging with local communities through social action projects.
The trustees extend their thanks to the many volunteers who provide services to the church including supervision of children’s work and other groups, Sunday morning hosting and administrative support, and remain satisfied with the overall outcome, in terms of meeting the charity’s stated objectives.
FINANCIAL REVIEW
General unrestricted income reduced by 10% from £214,705 in 2022/2023 to £192,776 in 2023/2024.
Overall, the Statement of Financial Activities reflects net incoming resources for the year ended 31 March 2024 of £113,387, compared with net incoming resources of £24,693 in the previous year to 31 March 2023.
Closing net assets at 31 March 2024 amounted to £270,328 (31.03.23: £156,941) including bank and cash balances of £120,426 (31.03.23: £151,898). Of the net assets at 31 March 2024 some £6,184 was restricted (31.03.23: £16,648) and £11,418 was designated by the trustees (31.03.23: £32,815).
The trustees consider the overall financial position and state of affairs of the charity to be satisfactory at the present time and remain optimistic as regards the future in terms of the church fulfilling its growth and other objectives.
Page 2
JUBILEE CHURCH TEESSIDE (A Company Limited by Guarantee)
REPORT OF THE TRUSTEES/DIRECTORS FOR THE YEAR ENDED 31 MARCH 2024
Investment Policy
The charity’s surplus funds continue to be invested on current and deposit accounts with Barclays Bank. The trustees have power to invest any money belonging to the charity as they see fit.
Reserves Policy
Having regard to ongoing projects and possible future financial commitments, the trustees wish to maintain a minimum level of free reserves of £80,000 and this level of reserves was achieved at both 31 March 2023 and 31 March 2024. The trustees will continue to review their requirements throughout the current and subsequent financial years, particularly having regard to additional costs arising following the church property purchase which completed on 1 September 2023.
PLANS FOR FUTURE PERIODS
Planned initiatives during the current and subsequent financial years include:
-
Further growth and development of student, youth and children’s work.
-
Further developing and enhancing the internal administration/support team.
-
Continued development of the pastoral care network.
-
Continued participation in the national Alpha evangelism/outreach initiative.
-
Further develop relationships with other charitable organisations with similar objectives.
-
Continued work in supporting apostolic ministry and related churches within the UK and overseas.
-
Continued maintenance and development of the church building as a resource hub.
-
Continued work with local communities through social action.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document
Jubilee Church Teesside is a company limited by guarantee and not having a share capital, incorporated in England and Wales. It is governed by a Memorandum and Articles of Association dated 26 February 1999 and was registered with the Charity Commission from 30 July 1999. In the event of the company being wound up, members are required to contribute an amount not exceeding £10.
Appointment of Trustees
New trustees are appointed on the recommendation of existing trustees/members. There is a required minimum of three trustees but no maximum number.
Trustees’ Induction and Training
Trustees are already familiar with the work of the charity as they are drawn from within the church membership/ congregation. The trustees have induction procedures to ensure that new trustees understand their roles and obligations. As part of these procedures, trustees are also encouraged to attend appropriate internal/external training events to facilitate the undertaking of their roles.
Organisation
The management and administration of the charity is under the control of the trustees who meet quarterly. Day to day operational matters are delegated to the church leaders.
Page 3
JUBILEE CHURCH TEESSIDE (A Company Limited by Guarantee)
REPORT OF THE TRUSTEES/DIRECTORS FOR THE YEAR ENDED 31 MARCH 2024
Related Parties
The church operates under the oversight/direction of Christ Central Churches Worldwide (a charitable organisation which oversees church formation, training and development initiatives). There are also close links with other churches in the region including members of the Christ Central Churches Worldwide family of churches.
Risk Management
The trustees continue to consider and review the major financial, operational and compliance risks borne by the charity and have systems in place to monitor those risks and to take action where necessary to mitigate them.
REFERENCE AND ADMINISTRATIVE INFORMATION
| Charity Name: | Jubilee Church Teesside |
|---|---|
| Company Registration Number: | 03734147 (England and Wales) |
| Charity Registration Number: | 1076821 |
| Registered Office: | Spitfire House |
| 19 Falcon Court | |
| Preston Farm Industrial Estate | |
| Stockton-on-Tees | |
| TS18 3TU | |
| Place of Business: | Yarm Road Methodist Church |
| 5 Woodland Street | |
| Stockton-on-Tees | |
| TS18 3HZ | |
| Directors and Trustees: | Mr J Lester |
| Mr J S Knight | |
| Dr R Saha | |
| Mr S Rogalski | |
| Mrs J L Gibson | |
| Company Secretary: | Mr J Lester |
| Independent Examiner: | Mrs L Dickson |
| JBC Accountants Limited | |
| 3B Lockheed Court | |
| Preston Farm | |
| Stockton-on-Tees | |
| TS18 3SH | |
| Bankers: | Barclays Bank plc |
| 1 Central Mall | |
| The Mall | |
| Middlesbrough | |
| TS1 2NR |
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approval
This report was approved by the trustees/directors on 12 December 2024 and signed on their behalf by:
J LESTER Company Secretary
Page 4 Inde endent Examiner's Re rt to the Trustees of Jubilee Church Teesside Independenl examiner's report to Ihe trustee8 of Jubilee Church Teesside I report lo ihe charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Responsibilltles and basls of report As the charity's trustees of the Company (and also its direclors for the purposes of company law) you are responsible for th¢ preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('th¢ 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 exam ination, I report in respect of my examination of your ¢harity's accounts as Carried out under section 145 of the Charilies Act 2011 ('the 201 l Act,). In carrying oul my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. Independent examiner's strdtement Since your charity's 8ross income exceeded £250,000, your examiner must be a member of a lisied body. I can confirni that l am qualified io undertake the examination because l am a member of the Institute of Chartered Accounlants in England and Wales, which is one of the listed bodies. I have compleied my examination. I confirn] that no matters have come io my attention in connection with the examination giving me cause to believe: accounting records were not k¢pt in spt of the Company as required by section 386 of the 2006 the accounts do not accord with these records; or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requiremenls ihat the accounts give a true and fair view which is not a matter considered as part of the independent examination; or th¢ accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Praclice 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 ¢onnection with ihe examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Mrs Lynne Dickson FCA JBC Accountants Limited Chartered Accountants 3B Lockheed Court Prcston Farni Siockton on Tees TS18 3SH Date: ..
Page 5
JUBILEE CHURCH TEESSIDE (A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 (including Summary Income and Expenditure Account)
| Unrestricted Funds | Unrestricted Funds | Restricted | Funds | Total | Funds | ||
|---|---|---|---|---|---|---|---|
| Notes | 2024 | 2023 | 2024 | 2023 | 2024 | 2023 | |
| £ | £ | £ | £ | £ | £ | ||
| INCOME | |||||||
| Charitable activities: | |||||||
| Operation of a local church | 3 | 187,284 | 214,531 | 139,977 | 44,677 | 327,261 | 259,208 |
| Investments | 4 | 5,492 | 174 | - | - | 5,492 | 174 |
| ____ | ____ | ___ | __ | ____ | ____ | ||
| TOTAL INCOME | 192,776 | 214,705 | 139,977 | 44,677 | 332,753 | 259,382 | |
| ========= | ========= | ======== | ======= | ========= | ========= | ||
| EXPENDITURE | |||||||
| Charitable activities | 5 | 210,322 | 206,167 | 9,044 | 28,522 | 219,366 | 234,689 |
| ____ | ____ | ___ | __ | ____ | ____ | ||
| TOTAL EXPENDITURE | 210,322 | 206,167 | 9,044 | 28,522 | 219,366 | 234,689 | |
| ========= | ========= | ======== | ======= | ========= | ========= | ||
| Net income/(expenditure) | |||||||
| for the year | (17,546) | 8,538 | 130,933 | 16,155 | 113,387 | 24,693 | |
| Transfer between funds | 141,397 | 6,380 | (141,397) | (6,380) | - | - | |
| ___ | ___ | ____ | __ | ____ | ___ | ||
| Net movement in funds | 6 | 123,851 | 14,918 | (10,464) | 9,775 | 113,387 | 24,693 |
| Reconciliation of funds: | |||||||
| Total funds brought forward | 15 | 140,293 | 125,375 | 16,648 | 6,873 | 156,941 | 132,248 |
| ____ | ____ | ____ | __ | ____ | ____ | ||
| Total Funds Carried Forward | 14&15 | 264,144 | 140,293 | 6,184 | 16,648 | 270,328 | 156,941 |
| ========= | ========= | ========= | ======= | ========= | ========= |
The Statement of Financial Activities includes all gains and losses recognised in the year.
All incoming resources and resources expended derive from continuing activities.
The notes on pages 7 to 13 form part of these financial statements
Page 6
JUBILEE CHURCH TEESSIDE (A Company Limited by Guarantee)
(Company Registration Number: 3734147)
BALANCE SHEET AS AT 31 MARCH 2024
| 2024 | 2023 | |||||
|---|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | ||
| FIXED ASSETS | ||||||
| Tangible assets | 11 | 158,091 | 1,023 | |||
| CURRENT ASSETS | ||||||
| Debtors and prepayments | 12 | 9,149 | 24,755 | |||
| Cash at bank and in hand | 120,426 | 151,898 | ||||
| ---------------- | ---------------- | |||||
| 129,575 | 176,653 | |||||
| CURRENT LIABILITIES | ||||||
| Creditors: Amounts falling due within one year | 13 | (17,338) | (20,735) | |||
| --------------- | --------------- | |||||
| NET CURRENT ASSETS | 112,237 | 155,918 | ||||
| ----------------- | ----------------- | |||||
| NET ASSETS | 270,328 | 156,941 | ||||
| ====== | ====== | |||||
| FUNDS | 14&15 | |||||
| Unrestricted funds | - General | 252,726 | 107,478 | |||
| - Designated | 11,418 | 32,815 | ||||
| ---------------- | --------------- | |||||
| 264,144 | 140,293 | |||||
| Restricted funds | 6,184 | 16,648 | ||||
| ----------------- | ----------------- | |||||
| TOTAL FUNDS | 270,328 | 156,941 | ||||
| ========== | ========== |
For the year ending 31 March 2024, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors’ responsibilities:
-
The members have not required the company to obtain an audit of its financial statements 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 financial statements.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by the directors and trustees on 12 December 2024 and signed on their behalf by:
J LESTER Trustee
The notes on pages 7 to 13 form part of these financial statements
Page 7
(A Company Limited by Guarantee)
JUBILEE CHURCH TEESSIDE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1. ACCOUNTING POLICIES
(a) General Information and Basis of Preparation
Jubilee Church Teesside is a private company limited by guarantee registered in England. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. The address of the registered office is given on the charity information page on page 3 of these financial statements. The nature of the charity’s operations and principal activities are the operation of a local church.
The charity constitutes a public benefit entity as defined by FRS 102. 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.
The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are presented in pounds sterling which is the functional currency of the charity, and rounded to the nearest pound.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
(b) Income Recognition
All income is recognised once the charity has entitlement to income, there is sufficient certainty of receipt and it is probable that the income will be received, and the amount of income can be measured reliably.
Grants and Donations
-
Where donors specify the grant or donation must be used in a future accounting period, the income is deferred until those periods;
-
Where donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred until the period in which the pre-conditions are met.
Where donors specify that grants or donations are for a particular restricted purpose, which does not amount to pre-conditions regarding entitlement, the income is included in incoming reserves within restricted funds when received.
(c) Resources Expended
Resources expended are recognised in the Statement of Financial Activities on an accruals basis, inclusive of VAT. Individual costs are allocated between the various headings in the Statement of Financial Activities by reference to the underlying nature or reason for which those costs were incurred, on an estimated percentage basis.
(d) Unrestricted and Restricted Funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the trustees for a particular purpose. The aim and use of each designated fund is set out in the notes to these financial statements.
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 aim and use of each restricted fund is set out in the notes to the financial statements.
(e) Tangible Fixed Assets and Depreciation
Tangible fixed assets are capitalised and depreciated at the following rates using the straight-line method:
Freehold property – 2% per annum (from date of owner-occupation 1 September 2023) Furniture and equipment – 25% per annum
Page 8
JUBILEE CHURCH TEESSIDE (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1. ACCOUNTING POLICIES ( Continued )
(f) Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
(g) Cash at Bank and in Hand
Cash at bank and cash in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
(h) Creditors and Provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably 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 and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
(i) Pension Costs
Contributions, which are payable into the personal pension plans of individual members of staff, are charged to the Statement of Financial Activities in the period to which they relate.
(j) Going Concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from the authorising of these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
2. LEGAL STATUS OF THE CHARITY
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £10.
3. INCOME FROM CHARITABLE ACTIVITIES
| Unrestricted Funds | Unrestricted Funds | Restricted Funds | Restricted Funds | Total | Funds | |
|---|---|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | 2024 | 2023 | |
| £ | £ | £ | £ | £ | £ | |
| Gift aid offerings | 155,998 | 179,024 | 123,638 | 23,237 | 279,636 | 202,261 |
| Non-gift aid offerings | 20,978 | 26,876 | 16,339 | 21,440 | 37,317 | 48,316 |
| Other income and events | 10,308 | 8,631 | - | - | 10,308 | 8,631 |
| ____ | ____ | ____ | ___ | ____ | ____ | |
| 187,284 | 214,531 | 139,977 | 44,677 | 327,261 | 259,208 | |
| ========= | ========= | ========= | ======== | ========= | ========= |
The charity benefits greatly from the involvement and enthusiastic support of its many volunteers, as mentioned in the Trustees’ Report. In accordance with the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised within the accounts.
4. INCOME FROM INVESTMENTS
| Unrestricted | Funds | Restricted | Funds | Total | Funds | |
|---|---|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | 2024 | 2023 | |
| £ | £ | £ | £ | £ | £ | |
| Bank and gift aid interest | 975 | 174 | - | - | 975 | 174 |
| Rental income | 4,517 | - | - | - | 4,517 | - |
| _ | _ | _ | _ | _ | _ | |
| 5,492 | 174 | - | - | 5,492 | 174 | |
| ====== | ====== | ====== | ====== | ====== | ====== |
Page 9
JUBILEE CHURCH TEESSIDE (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
5. EXPENDITURE ON CHARITABLE ACTIVITIES
See page 13.
6. NET MOVEMENT IN FUNDS
| NET MOVEMENT IN FUNDS | ||
|---|---|---|
| 2024 | 2023 | |
| This is stated after charging: | £ | £ |
| Depreciation and adjustments on disposal of fixed assets: | ||
| - on owned assets | 2,880 | 680 |
| - on assets held on finance lease contracts | - | - |
| Independent Examiner’s fees | 2,040 | 1,920 |
| ======= | ======= | |
| STAFF COSTS AND NUMBERS | ||
| 2024 | 2023 | |
| Staff costs during the year comprise: | £ | £ |
| Salaries and wages | 74,295 | 70,500 |
| Social security costs | 2,560 | 2,605 |
| Pension costs (note 8) | 6,318 | 5,907 |
| Death in service cover | 480 | 480 |
| ___ | ___ | |
| 83,653 | 79,492 | |
| ======== | ======== |
7. STAFF COSTS AND NUMBERS
No employee received emoluments of more than £60,000.
The average number of staff engaged during the year was two (2023: two).
The total remuneration paid to Key Management Personnel during the year was £46,901 (2023: £45,390).
8. PENSION COSTS
The pension costs of £6,318 (2023: £5,907) in the year represent payments to defined contribution pension schemes operated in the names of certain employees of the charity.
9. TRUSTEES’ REMUNERATION AND RELATED PARTY TRANSACTIONS
The following payments to trustees have been made in accordance with the governing document of the charitable company:
Mr S Rogalski is employed by the company. Related salary costs to the company for the year ended 31 March 2024 amounted to £46,901 (2023: £45,390) including employer pension contributions of £3,347 (2023: £3,188).
Mr J Lester is a partner in an accountancy firm which provides bookkeeping, accountancy, payroll and secretarial services to the company. The accounts include a VAT inclusive total of £21,000 (2023: £24,120) in respect of amounts due to the firm for these services. At the balance sheet date £3,620 (2023: £9,310) was due to the firm.
Mr S Rogalski is also a trustee of another local charity Open Door (North East) (ODNE) which had the following transactions with Jubilee Church Teesside (JCT):
transactions with Jubilee Church Teesside (JCT): |
||
|---|---|---|
| 2024 | 2023 | |
| Inter-company account transactions: | £ | £ |
| Balance due from JCT to ODNE at beginning of year | 4,642 | 2,142 |
| Grant from JCT to ODNE | 6,000 | 6,000 |
| Rent due from JCT to ODNE | 4,500 | 6,000 |
| Costs incurred by JCT on behalf of ODNE | (10,350) | (9,500) |
| __ | __ | |
| Balance due from JCT to ODNE at end of year | 4,792 | 4,642 |
| ======= | ======= |
Page 10
JUBILEE CHURCH TEESSIDE (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
9. TRUSTEES’ REMUNERATION AND RELATED PARTY TRANSACTIONS (continued)
During the year under review, trustees and other related parties made unrestricted gifts to the charity totalling £43,685 (2023: £52,520).
Other than the above, there were no transactions with any trustee or with any person connected to them.
10. TAXATION
As a registered charity, Jubilee Church Teesside is exempt from tax on its income under Section 505 of the Taxes Act 1988 provided that such income is applied for charitable purposes only.
11. TANGIBLE FIXED ASSETS
| 11. | TANGIBLE FIXED ASSETS | |||
|---|---|---|---|---|
| Freehold | Furniture | |||
| Property | and |
Total | ||
| £ | Equipment | £ | ||
| £ | ||||
| Cost | ||||
| At beginning of year | - | 77,843 | 77,843 | |
| Additions at cost | 158,079 | 1,869 | 159,948 | |
| Disposals | - | - | - | |
| _____ | ___ |
_____ | ||
| At end of year | 158,079 | 79,712 |
237,791 | |
| ========== | ======== |
========== | ||
| Accumulated Depreciation | ||||
| At beginning of year | - | 76,820 | 76,820 | |
| Charge for the year | 1,844 | 1,036 | 2,880 | |
| Adjustment on disposals | - | - | - | |
| _____ | ____ |
_____ | ||
| At end of year | 1,844 | 77,856 |
79,700 | |
| ========== | ========= |
========== | ||
| Net Book Value | ||||
| At beginning of year | - | 1,023 |
1,023 | |
| ========== | ========= |
========= | ||
| At end of year | 156,235 | 1,856 |
158,091 | |
| ========== | ========= |
========= | ||
| 12. | DEBTORS AND PREPAYMENTS | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Gift aid tax recoverable | 7,623 | 22,978 | ||
| Other debtors and prepayments | 1,526 | 1,777 | ||
| ___ | ___ | |||
| 9,149 | 24,755 | |||
| ======== | ======== | |||
| 13. | CREDITORS: Amounts falling due within one year | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Other creditors and accruals | 17,338 | 20,735 | ||
| ======== | ======== |
Page 11
JUBILEE CHURCH TEESSIDE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
14. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Unrestricted | Restricted | Total | |||
|---|---|---|---|---|---|
| £ | £ | £ | |||
| Tangible fixed assets | 158,091 | - | 158,091 | ||
| Cash at bank and on deposit | 114,242 | 6,184 | 120,426 | ||
| Other net liabilities | (8,189) | - | (8,189) | ||
| ----------------- | -------------- | ----------------- | |||
| 264,144 | 6,184 | 270,328 | |||
| ========== | ======= | ========== | |||
| STATEMENT OF FUNDS | |||||
| 2024 | As At | As At | |||
| 01.04.23 | Income | Expenditure | Transfers | 31.03.24 | |
| £ | £ | £ | £ | £ | |
| Unrestricted Funds: | |||||
| General | 107,478 | 192,776 | 205,607 | 158,079 | 252,726 |
| Designated | 32,815 | - | 4,715 | (16,682) | 11,418 |
| ---------------- | ----------------- | ---------------- | ---------------- | ----------------- | |
| Total Unrestricted Funds | 140,293 | 192,776 | 210,322 | 141,397 | 264,144 |
| ========= | ========== | ========= | ========= | ========== | |
| Restricted Funds: | |||||
| Church building fund | 14,706 | 131,653 | - | (141,397) | 4,962 |
| Overseas missions | - | 4,885 | 4,885 | - | - |
| Gifts | 2 | 3,379 | 3,379 | - | 2 |
| Christians Against Poverty | 1,940 | - | 720 | - | 1,220 |
| Alpha | - | 60 | 60 | - | - |
| --------------- | ---------------- | ---------------- | ----------------- | --------------- | |
| Total Restricted Funds | 16,648 | 139,977 | 9,044 | (141,397) | 6,184 |
| ========= | ========= | ========== | ========== | ========= | |
| Total Funds | 156,941 | 332,753 | 219,366 | - | 270,328 |
| ========= | ========== | ========== | ========== | ========== | |
| 2023 | As At | As At | |||
| 01.04.22 | Income | Expenditure | Transfers | 31.03.23 | |
| £ | £ | £ | £ | £ | |
| Unrestricted Funds: | |||||
| General | 85,275 | 214,725 | 198,882 | 6,380 | 107,478 |
| Designated | 40,100 | - | 7,285 | - | 32,815 |
| ---------------- | ----------------- | ---------------- | --------------- | ----------------- | |
| Total Unrestricted Funds | 125,375 | 214,705 | 206,167 | 6,380 | 140,293 |
| ========= | ========== | ========= | ========= | ========== | |
| Restricted Funds: | |||||
| Church building fund | 769 | 13,937 | - | - | 14,706 |
| Overseas missions | 6,102 | 26,910 | 26,627 | (6,385) | - |
| Gifts | 2 | 1,830 | 1,835 | 5 | 2 |
| Christians Against Poverty | - | 2,000 | 60 | - | 1,940 |
| ---------------- | ---------------- | --------------- | -------------- | -------------- | |
| Total Restricted Funds | 6,873 | 44,677 | 28,522 | (6,380) | 16,648 |
| ========= | ========= | ========= | ========= | ======== | |
| Total Funds | 132,248 | 259,382 | 234,689 | - | 156,941 |
| ========== | ========== | ========== | ========= | ========== |
15. STATEMENT OF FUNDS
Page 12
JUBILEE CHURCH TEESSIDE (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
15. STATEMENT OF FUNDS ( Continued )
Unrestricted Designated Fund
There was an unspent balance on designated unrestricted funds totalling £32,815 as at 1 April 2023 comprising:
Church building fund 28,100 Ringfenced funds to provide top-up support to a former church member and his family having relocated their ministry to Turkey during the year ended 31 March 2020 4,715 ___ Designated fund balance as at 1 April 2023 32,815
During the year to 31 March 2024, the above £4,715 was fully utilised, as was £16,682 of the church building fund, leaving an unspent balance on that fund of £11,418 at the balance sheet date.
Restricted Funds
Church building fund – Members of the church have made donations towards the purchase of a property to serve as a church meeting place and administration centre. The acquisition of the building completed on 1 September 2023.
O verseas missions - the church continues to support churches in Ghana and Turkey. Amounts received by way of restricted giving are paid across periodically via international bank transfer.
Gifts - Jubilee Church Teesside continues to collect and distribute gifts to other charitable causes and between church members on an anonymous basis.
Christians Against Poverty – in the previous year, the church was awarded a cinnamon micro-grant for the setting up and running of a CAP Life Skills Project which is ongoing.
Alpha – a donation was received to help fund the Alpha courses run by the church.
16. CONTROLLING PARTY
Throughout the current and previous year, the charity was under the control of the Board of Trustees.
JUBILEE CHURCH TEESSIDE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
5. EXPENDITURE ON CHARITABLE ACTIVITIES
| EXPENDITURE ON CHARITABLE ACTIVITIES | |||||||
|---|---|---|---|---|---|---|---|
| Basis of | Unrestricted Funds | Restricted Funds | Total | Funds | |||
| Apportionment | 2024 | 2023 | 2024 | 2023 | 2024 | 2023 | |
| Costs directly allocated to activities | £ | £ | £ | £ | £ | £ | |
| Staff costs and expenses | Direct | 86,480 | 81,133 | - | - | 86,480 | 81,133 |
| Premises costs | Direct | 29,210 | 30,268 | - | - | 29,210 | 30,268 |
| Community groups | Direct | 13,795 | 10,927 | - | - | 13,795 | 10,927 |
| Conferences and training | Direct | 4,887 | 1,851 | - | - | 4,887 | 1,851 |
| Outreach and missions | Direct | 9,429 | 8,804 | 720 | 60 | 10,149 | 8,864 |
| External giving and gifts | Direct | 28,392 | 36,529 |
8,324 | 28,462 | 36,716 | 64,991 |
| Administration and general expenditure | Direct | 15,089 | 10,615 | - | - | 15,089 | 10,615 |
| Governance costs | See below | 23,040 | 26,040 | - | - | 23,040 | 26,040 |
| _____ | _____ | ____ | ____ | _____ | _____ | ||
| TOTAL EXPENDITURE ON CHARITABLE ACTIVITIES | 210,322 | 206,167 | 9,044 | 28,522 | 219,366 | 234,689 | |
| ========== | ========== | ========= | ========= | ========== | ========== | ||
| Governance Costs | Basis of | Unrestricted Funds | Restricted Funds | Total | Funds | ||
| Apportionment | 2024 | 2023 | 2024 | 2023 | 2024 | 2023 | |
| Governance costs allocated to activities | £ | £ | £ | £ | £ | £ | |
| Administrative support and bookkeeping | Direct | 18,960 | 22,200 | - | - | 18,960 | 22,200 |
| Independent examination | Direct | 2,040 | 1,920 | - | - | 2,040 | 1,920 |
| Statutory accounts preparation | Direct | 2,040 | 1,920 | - | - | 2,040 | 1,920 |
| _____ | _____ | ____ | ____ | _____ | _____ | ||
| 23,040 | 26,040 | - | - | 23,040 | 26,040 | ||
| ========== | ========== | ========= | ========= | ========== | ========== |