CHARITY REGISTRATION NUMBER: 1080182 Immanuel Presbyterian Church, Caerau Unaudited Financial Statements 5 April 2024 GORDON DOWN & COMPANY LIMITED Accountants and business advisors 144 Walter Road Swansea SA1 5RW
Immanuel Presbyterian Church, Caerau Financial Statements Year ended 5 April 2024 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements The following pages do not form part of the financial statements Detailed statement of financial activities 18 Notes to the detailed statement of financial activities 19
Immanuel Presbyterian Church, Caerau Trustees, Annual Report Year ended 5 April 2024 The Irustees present their report and Ihe unaudited financial slatemenls of Ihe charity for the year ended 5 April 2024. Reference and admlnlstrative detalls RegiSted charity name Immanuel Presbyierian Church. Caerau Chariiy registration number 1080182 Principal office Church Office 10 Panteg Close Culverhouse Cross Cardiff CF5 4TW The trustees Mr T D Bees (Elder) Dr P J Comey (Elderl Rev Dr P J Naor (Elderl Mr D Union Independent examlner Philip Harris ACA 144 Walter Road Swansea SA1 5RW
Immanuel Presbyterian Church, Caerau Trustees, Annual Report (continued) Year ended 5 April 2024 Structure. governance and management Governing documenl Immanuel Presbyterian Church, Caerau is constituted under a Trust Deed dated 16 May 1999 and revised on 13 Augusl 2013 and has registered charity number 1080182. Organisational structure The Trustees who have served during the year and since the year-end are sel oul on page 1 together with other legal and adminislrative information. The church is ruled by ils ordained elders. The -Trustee" so called, is a custodial trustee for property only. The Trustees are elected by the Elders. session. Appointment and induction of new trustees Trustees are appointed by the Elderfs session. The Elders are responsible for the induction of any new Truslee. This involves making ihem aware of a Trustee's responsibilities and of the nature ol Ihe governing document and administrative procedures. A new Trustee would be given access to a copy of the charity's Trust Deed logelher with a copy of the charity's latesl Annual Reporl and Accounts. Key management remuneration The board of Trustees are considered to be the key management personnel of the charity. Details of Truslee remuneration or other benefits are disclosed at note 14. Details of Trustee expenses and relaled paty transactions are disclosed in notes 14 and 21 respectively. Total payments to all key management personnel is included in note 13. Risk management The Trustees have conducted a review of the major risks to which the charity is exposed. Where appropriate, systems or procedures have been established to mitigale the risk the charity faced. These procedures are periodically reviewed lo ensure they continue to meet the needs of the charily.
Immanuel Presbyterian Church, Caerau Trustees, Annual Report (continued) Year ended 5 April 2024 Objectives and activities Objectives and aims The object of Immanuel Presbyierian Church, Caerau hereinafter called 'the Church. is to advance the Christian Religion in accordance with its declared Confession of Faith and Subordinate Standards. In furtherance of the above object but not further or otheThYise, the Church has the following powers.. (al to establish and build up a Christian church according lo the teaching of Scripture, that is a church in Ihe fullesl sense of the lerm as lound in Scripture- Ibl to declare the whole counsel of God as revealed in holy Scripture and summarised in the Confession of Faith and Subordinale Standards of the Church., Icl lo express the Christian life wilhin and outside Ihe fellowship of the Church- Idl to erect or acquire, mainlain and. if necessary, dispose of such land and buildings as are needful to accomplish the object, and for no other purposes than those consistent with charitable status., (el to seek and establish visible union wtlh all like-minded churches. i.e. with churches which have the same. or a closely compalible. confessional basis and form of government If) lo seek association i.e. fraternal or sister-church relations, with other Reformed or Presbyterian churches subscribing to Ihe Westminster Confession of Faith or the Three Forms of Unity li.e. Ihe Belgic Confession, the Heidelberg Catechism and the Canons of Dort) or a compatible Reformed confession- Igl to co-operate wherever possible, on a Biblical basis appropriate to each category, wth other Christian churches and organisations., Ihl to establish and maintain, according to the providence of God, such institutions and structures as will provide for= Christian education- theological training,. care of the old and infirm- good works to be done lo all men and especially those of the household of faith, and lil to undertake Ihe task of church extension and foundation as the persuasion of Scripture, providence and the Holy Spirit direct and constrain. Volunteers The charity provides a stipend for the minister of the church. In addition the charity employs two members of staff. The charily has numerous volunleer helpers who are responsible for the support ol many activities in the church. It is not possible to place a monetary value on the contributions made by volunteers nor are ligures available that show how many hours of service they provide.
Immanuel Presbyterian Church, Caerau Trustees, Annual Report (continued) Year ended 5 April 2024 Achievements and pertorniance Immanuel Presbyterian Church, CaeraLJ promotes the Christian Religion primarily but not exclusively within the districts of Ely in the City of Cardiff. Public benetil slatement The Elders confirm that they have complied with the duty under the Charities Acl 2011 to have due regard lo the Charity Commission's general guidance on public benefit when planning church activilies for the year. Public benelit is provided principally by the provision of a Place of Worship, with regular public meetings held for worship. The Church seeks to fulfill its charitable objectives in the advancement of Ihe Christian Religion and in supporting those in need. Developments within the charity The period 6 April 2023 - 5 April 2024 has seen progress in the life of the church as indicated below. The objects of the charity are to advance the Christian religion in accordance with the Westminster standards, to the glory of God and the benefit of mankind everywhere. These objects were effected by preaching the gospel of Jesus Christ and teaching Christian doctrine- by providing the means to allow believers to practice their faith- by applying Christian doclrine and making available lilerature lo explain faith and how to OUOrk it in life,. to administer the sacraments of baptism and the Lord's Supper- by distributing copies of the Bible- and by showing praclical Christian charity lo those in need. The public seNices of the church are open to all. Recordings of sermons are regularly uploaded and are freely available lo all via Ihe Internet- Christian lilerature is displayed and available without charge. 11 is affirmed that Ihese objecls, in parlicular Ihe public worship and the adminislralion of the sacraments, cannot be achieved unless persons are physically present in assembly. The usual services to mark Easter, the haNest, the Incarnation, and the Reformation, were held in the church. The Sunday School and meelings for some of the youth of the area were conlinued in Ihis period. Pastoral visits continued to be made by officers of the church on a regular basis and according to particular need. Fellowship meals were held on a regular basis following the Sunday moming seNice for worship. Outreach work was continued in the district around the church by means of leaflet distribution and conversations. Mr Benjamin Mitchell continued as ministerial assistant with an extension lo his contract to Ihe end ol 2024.
Immanuel Presbyterian Church, Caerau Trustees, Annual Report (continued) Year ended 5 April 2024 Financial review Going concern Having considered budget and cash flow projections for the next twelve months, the Trustees are conlidenl that the Church wll continue to meel its liabilities as they fall due for Ihe loreseeable luture and consider that there are no material uncertainties about the Church's ability to continue as a going concern. It is therefore considered appropriate by Ihe Trustees to prepare the financial statemenls on a going concern basis. The accounts comply with the current statutory requirements and the charitWs governing documents. Total incoming resources for Ihe year of £170,556 {2023 £115,678) consist almost entirely of donations received of £104.715 {2023 - £96.067), tax refunds of £21,040 (2023 £19,470) and a bequest of £44,29712023 - nil). A significant proportion of the total expenditure of £126,92612023 £114,620) relales to minislry SUPPOrt. Incoming resources exceeded resources expended by £43,630 (2023 - £1 ,0581. Reserves Pollcy The Elders have examined the level of reserves held at the year end in light of the main risks lacing the organisation. A policy has been established lo maintain suff icient reserves equivalent to up to Iwo months operating costs. This is estimated to be approximately £12.500. The Iree reserves of a charity represenl the funds that are freely available to spend. In calculating Ihe free reserves the Elders have deducled from the total of unreslricled funds any funds designaled al the year end and the nel book value of all tangible fixed assets as detailed in the accounts after adjusling for associated borrowing. This leaves a surplus of free reseeS at 5 April 2024 of £89.584 which is above the target set by the Elders for free resees. The policy is reviewed by the Elders on an ongoing basis. A designated fund was in place during the year which was set up by the Elders in 2016 to prepare for the future ministerial needs of the church. The total lunds designated at the year end were £11,211 . The trustees, annual report was approved on 28 January 2025 and signed on behalf of the board of trustees by: Mr T D Bees (Elderl Trustee
Immanuel Presbyterian Church, Caerau Independent Examiner's Report to the Trustees of Immanuel Presbyterian Church, Caerau Year ended 5 April 2024 I report to the trustees on my examinalion of the financial slatemenls of Immanuel Presbyterian Church, Caerau ('the charity) for the year ended 5 April 2024. Responslbilitles and basls of report As the trustees of the charty you are responsible for the preparation of the financial stalernents in accordance with the requirements of the Charities Act 2011 {'the Act'l. I report in respect of my examination of the charitys financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent examlner's slalement I have completed my examinalion. I confirm that no material matters have come to my attention in connection with Ihe examination giving me cause lo believe that in any material respect.. accounting records were not kept in respe of the charity as required by section 130 of the Act., or the financial slatements do not accord with those records., or the financial statements do not comply with the applicable requirements concerning ihe form and content of accounts set out in the Charities {Accounls and Reports) Regulations 2008 olher than any requirement that Ihe accounts give a 'lrue and fair, view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attenlion should be drawn in this report in order lo enable a proper underslanding of Ihe accounts to be reached. Philip Harris ACA Independent Examiner 144 Waller Road Swansea SA1 5RW 2025
Immanuel Presbyterian Church, Caerau Stalement of Financial Activities Year ended 5 April 2024 2024 Restricted funds Tolal funds 2023 Unrestricted funds Total funds Note Income and endowmenls Donations and legacies Investment income Other income 162,942 504 7,110 170,052 504 115,537 41 100 Total income 163,446 7,110 170,556 115,678 Expenditure Expenditure on charitable activities Total expenditure 126,926 126,926 114,620 126,926 126,926 114,620 Net income and net movement in funds 36,520 7,110 43,630 1,058 Reconciliation of funds Total funds brought lOard Total funds carried forward 433,414 433,414 432,356 469,934 7.110 477,044 433.413 The statement of linancial activities includes all gains and losses recognised in the year. All income and expendilure derive from continuing aclivities. The notes on pages 9 10 16 fomi part of these flnan¢lal ststemenls.
Immanuel Presbyterian Church, Caerau Stalement of Financial Position 5 April 2024 2024 2023 Note Fixed assets Tangible fixed assets 15 363,749 372,563 Current assels Deblors Cash at bank and in hand 16 14,127 101,975 11,969 50,255 116,102 62,224 Credilors: amounts falling due wlthln one year Net currenl assets 17 2,807 1.373 113,295 60,851 Total assets less currenl Ilabllllles 477,044 433,414 Funds ol the charlly Reslricted funds Unrestricted funds 27,110 449,934 433,413 Total charlty funds 19 477,044 433,413 These financial statements were approved by the board of trustees and authorised for issue on 28 January 2025, and are signed on behalf of the board by: Mr T D Bees (Elderl Trustee The notes on pages 9 10 16 fomi part of these flnanclal statements.
Immanuel Presbyterian Church, Caerau Notes to the Financial Statements Year ended 5 April 2024 General inforniation The charity is a public beneff( entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Church Office, 10 Panteg Close, Culverhouse Cross, Cardiff, CF5 4TW. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Ihe Republic of Ireland,, Ihe Stalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland {FRS 102} (Charilies SORP (FRS 102)) and the Charities Act 2011. Accounllng pollcles Basls of preparatlon The financial statements have been prepared on the historical cost basis. The financial slatemenls are prepared in sterling, vthich is Ihe functional currency of the entity- Going concern There are no material uncertainties about the charitls ability io continue. Dlsclosure exempiions The entity satisfies the crileria of being a qualifying entity as delined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102.. {a) No cash flow statement has been presented for the charty. Judgements and key sources ot estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that aHecl Ihe amounts reported. These eslimates and judgemenls are continually reviewed and are based on experience and other factors, including expeclalions of future events that are believed to be reasonable under the circumstances. Signilicant judgements There are currently no key judgements that management has made in Ihe process of applwng the enliws accounling policies that have a significanl effect on the amounts recognised in the financial statements. Key sources of estimalion uncertainly - There are currently no key assumpiions or other sources of estimation uncertainty ihat have a significant risk of causing a material adjustment to the carrying amounts ol assets and liabilities within the next financial year. Income tax The charity is exempt from tax on its charitable activilies.
Immanuel Presbyterian Church, Caerau Notes to the Financial Statements (continued) Year ended 5 April 2024 Accounting policies (conlinued) Fund accounting Unreslricled funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjecled to restrictions on their expenditure declared by the donor or Ihrough the terms of an appeal. and fall into one of Iwo suiFclasses.' restricted income lunds or endowment funds. Incoming resources All incoming resources are included in the stalement of financial activities when enlitlement has passed lo the charity,. it is probable thal the economic benefits associated wilh the transaction will Ilow to the charily and Ihe amount can be reliably measured. The lollowing specific policies are applied lo particular categories of income: income from donations or granls is recognised when there is evidence of entillement to the gift, receipt is probable and its arnount can be measured reliably. legacy income is recognised when receipt is probable and entillemenl is eslablished. income Irom donated goods is rneasured at the fair value of the goods unless this is impractical lo measure reliably. in which case the value is derived from the cost to the donor or the eslimaled resale value. Donated facilities and services are recognised in the accounls when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. incorne frorn contracts for the supply of services is recognised with the delivery of the conlracled service. This is classilied as unrestricled funds unless there is a contraclual requirement for it lo be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricled. 10
Immanuel Presbyterian Church, Caerau Notes to the Financial Statements (continued) Year ended 5 April 2024 Accounting policies (conlinued) Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings ol the slatemenl of financial activities to which il relates: expenditure on raising funds includes the costs of all fundraising activities, events, non- charitable trading activities, and the sale of donated goods. expenditure on charilable activilies includes all costs incurred by a charity in undertaking activities Ihal further its charitable aims for the benefit of its beneficiaries. including those support cosls and costs relaling to Ihe governance of the charity apportioned lo charitable aclivities. other expenditure includes all expenditure that is neilher related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure calegories reflecting the use of the resource. Direcl cosls attribulable to a single activity are allocated directly to that activity- Shared costs are apportioned between the aclivtties they contribute lo on a reasonable. justifiable and consistent basis. Donated services Much of Ihe work of the charily is carried oul voluntarily by its members. No adjuslment has been made to the accounts for the estimated value of these seryices as the Trustees do not consider Ihal any financial cost has been borne by any Ihird party- Tangible assets Tangible assets are initially recorded at cost. and subsequently stated at cosl less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded al the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revalualion, is recognised in other recognised gains and losses. unless it reverses a charge for impairmenl thal has previously been recognised as expenditure wilhin Ihe statemenl of financial activilies. A decrease in Ihe carrying amounl of an asset as a result of revaluation. is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on Ihe slatemenl of financial activities. Depreciation Depreciation is calculated so as lo write off the cost or valuation of an assel, less its residual value, over the useful economic life of that asset as follows= Freehold property Fixtures and fittings Computer equipmerrt Improvemenls to propety 0/0 on land and 2°/0 on buildings 25 % straight line 330/0 Straight line 10°/o Straight line 11
Immanuel Presbyterian Church, Caerau Notes to the Financial Statements (continued) Year ended 5 April 2024 Accounting policies (conlinued) Impainnent of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being eslimated where such indicators exist. Where Ihe carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporling date. For the purposes of impairment testing. when il is not wssible to estimale the recoverable amount of an individual asset, an estimate is made of the recoverable amounl of the cash- generating unit lo which the asset belongs. The cash-generaling unit is the smallest idenlifiable group of assels Ihal includes the assel and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of go¢xlwill. the gO(x1vlI acquired in a business combination is, from the acquisition date. allocated lo each of the cash-generating unils that are expected to benefit from the synergies of the combination. irrespective of whether other assets or liabilities of the charity are assigned lo Ihose unils. Financial instruments The Church only has financial assets and financial liabilities of a kind that qualify as basic linancial instruments. Basic financial instruments are initially recognised al transaction value and subsequently measured al their settlement value with the exception of bank loans which would be subsequently measured at the carrying value plus accrued inlerest less repayments. Donations and legacies Unreslricled Funds Restricted Total Funds Funds 2024 Donallons Offerings Gift Aid 97,605 21,040 7.110 104,715 21,040 Legacies Legacies 44,297 44,297 162,942 7.110 170,052 Unreslricled Funds Restricted Tolal Funds Funds 2023 Donations Offerings Gift Aid 96,067 19,470 96,067 19,470 Legacies Legacies 115,537 115,537 12
Immanuel Presbyterian Church, Caerau Notes to the Financial Statements (continued) Year ended 5 April 2024 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Interest receivable 504 504 41 41 Other income Unreslricled Total Funds Unreslricted Total Funds Funds 2024 Funds 2023 Other income 100 100 Expenditure on charitable activities by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Ministerial and Pastoral actimlies Support costs 85,609 41,317 85,609 41,317 92,159 22,462 92,159 22,461 126,926 126,926 114,621 114,620 Expenditure on charitable activities by activity type Activities undertaken Grant funding directly of activities Support costs Total funds 2024 Total fund 2023 Ministerial and Pastoral activities Governance costs 78,410 7,199 39,943 1,374 125,552 1,374 113.154 1,466 78.410 7,199 41,317 126,926 114,620 Analysis of support costs Analysis of support cosls Total 2024 Total 2023 Staff costs Premises Communications and IT Governance costs Depreciation Other 2,137 23,453 2,546 1,374 11,551 257 2.137 23.453 2,546 1.374 11.551 257 2,026 5,441 2,343 1,466 10,903 282 41,318 41.318 22,461 13
Immanuel Presbyterian Church, Caerau Notes to the Financial Statements (continued) Year ended 5 April 2024 10. Analysis of grants 2024 2023 Grants to institutions Support for ministry in Poland EPCEW Berlin church Polish church re Ukraine 3,420 400 1,250 9,421 3,750 2,325 3,075 5,070 18,571 Grants to individuals Various 2,129 103 Tolal granls 7,199 18,674 11. Net Income Net income is stated after chargingl(creditingl= 2024 2023 Deprecialion of tangible fixed assets 11.550 10,903 12. Independent examination fees 2024 2023 Fees payable to the independent examiner for= Independent examination of the financial statements Other financial services 400 1,066 400 1,066 1,466 1,466 13. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows: 2024 2023 Wages and salaries 41,079 39,923 The charity had three employees in the year as noted below in nole 14 Trustees, remuneralion and benefits. The lolal employee benefits of the charity's key management personnel were £39,2771 12023 - £38,151). The average head count of employees during the year was 312023: 3). No employee received employee benefits of more Ihan £60,000 during the year {2023= Nil}. 14
Immanuel Presbyterian Church, Caerau Notes to the Financial Statements (continued) Year ended 5 April 2024 14. Trustee remuneration and expenses The charity had three employees during ihe year one of whom {the Minister of the church} is also a trustee. His remuneration during the year was as follows.. 2024 2023 Trustees, salaries Trustees, pension paid Trustees. Benefits in kind (business expenses and travel) 34.005 4,937 335 33,453 4,444 254 39,277 38,151 The charity's Constitution makes provision for payments to be made to a trustee. Trustees expenses Payments to reimburse Ihe Trustees during ihe year totalled £1,529. These were in respect of three Trustees for the cost ol travel, theological resources, equipment and off I supplies. It appears that in many cases the Trustee acted as agenl of the charity and made purchases on ils behalf. Such expendilure was not related to the service provided by the Trustee. 15. Tangible flxed assets Improvemen tsto property Freehold Fixtures and propety fittings Equipment Total Cosl Al 6 April 2023 Additions Revaluations 362,209 26.906 2,738 225 174,132 563.472 2,738 121 566.208 At 5 April 2024 Depreciation Al 6 April 2023 Charge lor the year At 5 April 2024 Carrying amount At 5 April 2024 At 5 April 2023 362,209 29,643 225 174,131 48,663 3,244 25.708 1,114 224 116,314 7,192 190,909 11,550 51.907 26,822 224 123,506 202,459 310,302 2.821 50,625 363.749 313,546 1.198 57,818 372.563 16. Debtors 2024 2023 Other debtors 14.127 11,969 15
Immanuel Presbyterian Church, Caerau Notes to the Financial Statements (continued) Year ended 5 April 2024 17. Creditors: amounts falling due within one year 2024 2023 Creditors and accruals 2,807 1,373 18. Spare bs note 14 19. Analysis of charitable funds Unrestricted funds Designated funds are part of the charitWs total unrestricted funds noted above and represenl amounts earmarked by the Elders to be used for particular purposes in the fulure. The Elders have the power lo re-designate such funds within unrestricted funds. Designated funds are nol disclosed separately on the charity's Statement of Financial Activities nor on its Balance Sheet. Fulure Minislries Designated fund This designated fund was eslablished in 2016 to prepare for the future ministerial needs of the church. Restricted funds A fund lo cover the cost of renewing the church roof was set up during the year. Donations of £7,110 were received and a transfer of £20,000 was made Irom general funds, giving a year end balance of £27,110. 20. Analysls of nel assets between funds Unrestricted Total Funds Funds 2024 Tangible fixed assets Current assels Creditors less than 1 year Nel assets 363.749 116.102 12.807) 477.044 363,749 116,102 12,8071 477,044 Unrestricted Tolal Funds Funds 2023 Tangible fixed assets Current assets Creditors less Ihan 1 year Net assets 372.563 62,224 11.373) 433.414 372,563 62,224 11,3731 433,414 21. Related parties The aggregate value of unconditional donations made by the Trustees in the year to 5 April 2024 was £13.750 {2023 - £9.4301. 16