OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← Fields Church

2024-08-31-accounts

FIELDS CHURCH LTD

Report and Accounts Year ended 31st August 2024

1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk

FIELDS CHURCH LTD

FOR THE YEAR ENDED 31 AUGUST 2024

COMPANY INFORMATION

Directors / trustees

Andrew Gaught Richard Smith Mark Brian George Tree Martin Sutor Stephen Richard Haskins Sheeba Suresh Simon Scott

Key staff

Richard Smith (Pastor)

Governing Document

Memorandum and Articles of Association dated 2000, amended 2017

Company Registration Number 04002211 Charity Registration Number 1082134 Registered Office 211 Humber Doucy Lane Ipswich Suffolk IP4 3PE

Independent Examiner

Lisa Darby FCA Stewardship 1 Lamb's Passage London EC1Y 8AB

Bankers

The Co-Operative Bank plc

Contents Page
Company Information 1
Trustees' Annual Report 2 - 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Accounts 10 - 16
Detailed Statement of Financial Activities with Comparatives 17

Page 1

FIELDS CHURCH LTD

TRUSTEES' ANNUAL REPORT (INCORPORATING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 AUGUST 2024

The trustees, who are the charity's directors for the purposes of company law, have pleasure in submitting the Report and Accounts for the year.

Objects of the charity

The advancement of the Christian faith in Suffolk, East Anglia, and beyond; and to relieve persons who are in conditions of need or hardship wherever it is found, demonstrating Christ's love to all we encounter, as outlined in our Memorandum and Articles of Association.

Structure, Governance and Management

The Spiritual oversight of the church is administered by one full time paid Senior Pastor (Richard Smith) and his wife (Esther Smith). The transition to new Pastor(s) is underway with Richard and Esther standing down on 31 August 2025.

We currently have a wider leadership team consisting of 5 other volunteers (Core Leaders), who meet monthly, or more regularly if required, to discuss and agree the operational direction and future of the church. Roles and responsibilities regarding operational matters are divided within this team. The structure of this team and the interaction between core leaders and trustees is currently under discussion as part of a wider restructure in anticipation of the existing pastors standing down. Within the last year we have decided to join the Ground Level network of churches to provide additional support and relationships for both the existing team and that which will emerge over the next few months.

The policy and operating decisions of the charity rest with Trustees who meet five times (4 quarterly meetings and 1 budget meeting) a year to monitor the activities and finances of the Company.

New trustees are recruited and appointed by a majority of existing trustees as /when necessary.

Vision

The Vision of the Church is: Heart for God, Heart for People.

Our Mission is: To demonstrate God's love to people, drawing them in and growing them up in their faith. This is applicable to people within and external to Fields Church.

Page 2

FIELDS CHURCH LTD

TRUSTEES' ANNUAL REPORT (INCORPORATING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 AUGUST 2024

Objectives

Our Vision is split down into five headings which are subsequently split into short and long term.

One of our ongoing short-term goals is to continue to have Community Champions who organize and run local events as well as supporting those within our membership who participate in local events. In addition, our short-term goal of having Space for Growth took a significant step forward with our move to Kesgrave High School. Since moving to this venue we have been granted access to more storage space and increasingly improved facilities.

Our Long-term vision is to become a Global Creative Influence; this is being taken forward through advancements in media recording and production. We also aim to provide a full range of Wholeness and Pastoral Care services; training and mentoring programs are currently underway. Finally, to purchase our own premises thus creating a Home for Good.

The overarching objective and goals of the church are again under consideration as part of the restructure although will remain very similar to those currently in place.

Review of Activities

In planning the activities, the Directors have had regard to the guidance on public benefit issued by the Charity Commission. We review the activities we undertake, on a regular basis, to see whether they fulfil the objectives set within our Memorandum and Articles of Association.

Life Groups

Weekly life group meetings are held weekly. These are extremely valuable in ensuring that people have opportunity to stay connected and continue to support one another in between the Sunday services. These aim to promote community and foster deeper discussions around varied but relevant topics. There has been an expansion in the number of life groups over the last 12 months.

Children’s Church

Programmes are put together to meet children's needs. Children’s church occurs every week during the Sunday morning service. Children are divided into two age specific groups and taught using various games and activities.

Youth

A dedicated team of volunteer youth workers meet with our youth on a Sunday morning and also host a series of youth life groups and a variety of social events throughout the year.

Page 3

FIELDS CHURCH LTD

TRUSTEES' ANNUAL REPORT (INCORPORATING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 AUGUST 2024

Alpha and other Courses

We continue to plan run an Alpha course annually although this has been postponed recently due to a lack of numbers. Other courses are currently being planned for delivery independently and also within the life groups.

Baptism

As and when numbers permit baptisms are undertaken. A private pool is opened up for us for the event when necessary.

Outreach Activities

A community carol service was arranged along with a winter cafe. Outreach activities were widely promoted throughout the surrounding community and are helping to promote the church within the local area and raise awareness. Lands are in place for an Easter activity in the next few weeks. A quarterly worship night has been held. The event is called Wonder. It is promoted widely throughout local and regional churches and attracts attendance from a range of age groups from a number of other churches. It is primarily aimed at believers.

Christmas Collection for FIND

We continued to support a local charity financially, called Families in Need, who have run a food bank in Ipswich for the last 25 years to help those in great need. This year we continued to donate boxes of chocolates, to give as Christmas Gifts and vouchers. We also support FIND on an ongoing basis and regularly take collections to their warehouse.

Support

Support is provided on an ongoing basis by the Pastor’s wife for vulnerable people within the church and support is provided where needed for new families and those in financial need.

Daily Prayer

We started a daily prayer meeting on Zoom during lockdown. This has proved very popular. It is an occasion where we can pray for wisdom for those who lead governments and also pray for the vulnerable and marginalised as well as individual needs which can be identified. This will be maintained into the foreseeable future.

Financial Review

The income we received is provided by the generous giving of our church family, which we are extremely grateful for, this is also supplemented by claiming Gift Aid to our charity status.

Our income this year increased to £103,880 (2023: £101,934), with expenditure increased to £101,443 (2023: £101,333) leaving a surplus of £2,437 (2023: £601) which is reflected in this year’s accounts. The charity held funds of £97,253 at year end (2023: £94,816) of which £2,068 was restricted in purpose (2023: £283).

Page 4

FIELDS CHURCH LTD

TRUSTEES' ANNUAL REPORT (INCORPORATING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 AUGUST 2024

In summary it has been a good year at Field’s Church and we are looking forward to continuing this in the years ahead.

The Trustees meet to set budgets and allocate funds for various activities ahead of the start of our financial year. As well as meeting to set the budgets, we also meet quarterly to further monitor and amend if necessary, our projected income and expenditure, along with discussing any other governance, safeguarding policies etc., issues that may have arisen.

Reserves Policy

The board of Trustees has established a policy whereby the main objective is to hold funds equating to 25% of the budgeted unrestricted income for each financial year which would equate to approximately £24,000. This is done to, if necessary, supplement a fluctuating income that is provided by the giving of the church family. At the end of the year the charity held, in unrestricted general fund cash reserves, £81,149 and as such the charity is complying with it’s reserves policy.

Risk Statement

The Trustees continually review the risks to which a small charity operating with few employees is exposed. Appropriate procedures are in place to identify, monitor and review these risks on a regular basis.

Page 5

FIELDS CHURCH LTD

TRUSTEES' ANNUAL REPORT (INCORPORATING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 AUGUST 2024

Trustees Responsibilities

The Trustees are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date, and of it’s incoming resources and application of resources, including income and expenditure, for the financial year. In preparing these financial statements, the trustees are required to:

  1. select suitable accounting policies and apply them consistently;

  2. observe the methods and principles in the Charities SORP;

  3. make judgements and estimates that are reasonable and prudent;

  4. state whether the applicable accounting standards have been followed, subject to any material

departures disclosed and explained in the financial statements; and

  1. prepare the financial statements on a going concern basis unless it is inappropriate to presume

that the charity will continue in operation.

The trustees are responsible for keeping proper accounting records that disclose, with reasonable accuracy at any time, the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approval

This report, which has been prepared in accordance with the provisions of the Companies Act 2006 relating to small companies, was approved by the trustees and signed on their behalf by:

Mark Tree

~~____~~ Mark Tree (Mar 18, 2025 06:57 GMT) ___ Mark Tree

Date: Mar 18, 2025

Page 6

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF

FIELDS CHURCH LTD ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2024 on pages 8 to 17 following, which have been prepared on the basis of the accounting policies set out on pages 10 -11.

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

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.

Lisa Darby

Lisa Darby (Mar 24, 2025 15:08 GMT)

Lisa Darby FCA Stewardship 1 Lamb's Passage London EC1Y 8AB

Date:

Mar 24, 2025

Page 7

FIELDS CHURCH LTD

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2024

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Charitable activities
4
Investments
5
Total income and endowments
EXPENDITURE ON:
Charitable activities:
6
Total expenditure
Net income/(expenditure)
Transfers between funds
12
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
12		 Unrestricted
Funds
£
95,841
-
4
95,845
95,193
95,193
652
-
652
94,533
95,185		 Restricted
Funds
£
8,035
-
-
8,035
6,250
6,250
1,785
-
1,785
283
2,068		 Total
Funds
2024
£
103,876
-
4
103,880
101,443
101,443
2,437
-		 Total
Funds
2023
£
101,933
-
1
101,934
101,333
101,333
601
-
2,437
94,816
97,253		 601
94,215
94,816

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing operations.

The statement of financial activities also complies with the requirements for an income and expenditure account required by the Companies Act 2006.

The notes on pages 10 - 16 form part of these accounts.

Page 8

FIELDS CHURCH LTD

BALANCE SHEET

FOR THE YEAR ENDED 31 AUGUST 2024

Note
FIXED ASSETS
Tangible assets
8
CURRENT ASSETS
Debtors
9
Cash at bank and in hand
10
CREDITORS:Amounts falling
due within one year
11
Net current assets / (liabilities)
Total assets less current liabilities
Net assets / (liabilities)
TOTAL NET ASSETS
FUND BALANCES
12
Unrestricted Funds
General funds
Designated funds
Restricted Funds		 Unrestricted
Funds
£
2,718
2,718
6,022
93,693
99,715
7,248
92,467
95,185
95,185
95,185
82,641
12,544
95,185
-
95,185		 Restricted
Funds
£
-
-
-
2,068
2,068
-
2,068
2,068
2,068
2,068
-
-
-
2,068
2,068		 Total funds
2024
£
2,718
2,718
6,022
95,761
101,783
7,248
94,535
97,253
97,253
97,253
82,641
12,544
95,185
2,068
97,253		 Total funds
2023
£
5,008
5,008
4,596
96,887
101,482
11,675
89,807
94,816
94,816
94,816
82,127
12,406
94,533
283
94,816

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006 however, in accordance with Section 145 of the Charities Act 2011, the accounts have been examined by an independent examiner and their report has been included in these financial statements.

The directors (who are the charitable company's trustees for the purposes of charity law) acknowledge their responsibilities for:

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors and were signed on its behalf by:

Mark Tree Mar 18, 2025 Mark Tree (Mar 18, 2025 06:57 GMT) -----------------------------------------------------------------------Mark Tree DATE Company number: 04002211 Charity number: 1082134

The notes on pages 10 - 16 form part of these accounts.

Page 9

FIELDS CHURCH LTD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

1 Statutory Information

The charity is a charitable company limited by guarantee and is incorporated in the United Kingdom. The company's registered number and registered office address can be found on the Company Information page.

2 Accounting Policies

These financial statements are prepared on a going concern basis, under the historical cost convention.

These financial statements have been prepared in accordance with the "Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102"), with the Companies Act 2006 and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.

The principles adopted in the preparation of the financial statements are set out below.

a) Going concern

The trustees (who are the charitable company's directors for the purposes of company law) have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

b) Income Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.

Income from donations and legacies includes: a) Recoverable gift aid. This is recognised when the related donation is received. Gift aid that has not been recovered by the balance sheet date is included as a debtor.

c) Legacies. Income from legacies is recognised when a distribution is received from the estate or, if earlier, when the charity has been notified that a distribution will be made and the amount receivable can be measured reliably.

Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity's charitable objects. It includes income from church retreats and other events and courses.

c) Expenditure Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.

The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.

Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.

d) Fund accounting General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.

Page 10

FIELDS CHURCH LTD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

e) Tangible fixed assets

Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £1,500 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective the following rates of depreciation are charged:

Leasehold improvements Over the lease term or, if shorter, expected useful life
Equipment Over 5 years
Furniture Over 5 years

The carrying values of tangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate that the carrying value may not be recoverable.

f) Pension scheme arrangements

The charity does not operate defined contribution pension schemes for its employees as the relevant employees have opted out of such schemes.

g) Taxation

The company is a registered charity; it has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.

h) Financial instruments The charity's financial assets and financial liabilities all qualify as basic financial instruments, as defined by FRS102. Except for loans, creditors and debtors are measured at their expected settlement value (normally the amount of cash that the charity expects to pay or receive).

i) Exemption from preparing a cashflow statement

The charity has taken advantage of an exemption conferred by the Charities SORP and has not prepared a cash flow statement.

j) Critical accounting estimates and areas of judgement The trustees do not consider that there any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period.

3
Donations and legacies
Donations of cash and similar
Missions
Income tax recoverable
4
Income from charitable activities
Ministry & Leadership Training
Youth and children's work
5
Investment income
Bank interest
6
Charitable expenditure
a
Costs incurred directly on specific activities
Employment costs
Note 7
Staff expenses (including training)
Grants payable
Note 6c
Hire of halls
Equipment & maintenance
Garden Office provision for Pastor
Guest speakers
Children and Youth
Subscriptions & Fees (incl. Software)
Worship		 Unrestricted
Funds
£
82,447
-
13,394
95,841
Unrestricted
Funds
£
-
-
-
Unrestricted
Funds
£
4
4
Unrestricted
Funds
£
55,192
1,046
12,247
10,727
755
-
-
-
3,599
-		 Restricted
Funds
£
-
8,035
-
8,035
Restricted
Funds
£
-
-
-
Restricted
Funds
£
-
-
Restricted
Funds
£
-
-
5,868
-
-
-
170
212
-
-		 Total
2024
£
82,447
8,035
13,394
103,876
Total
2024
£
-
-
-
Total
2024
£
4
4
Total
2024
£
55,192
1,046
18,115
10,727
755
-
170
212
3,599
-		 Total
2023
£
84,891
3,470
13,572
101,933
Total
2023
£
-
-
-
Total
2023
£
1
1
Total
2023
£
55,192
1,046
14,977
10,727
755
-
240
212
3,599
-

Page 11

FIELDS CHURCH LTD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR THE YEAR ENDED 31 AUGUST 2024
b Hospitality
Outreach & evangelism
Books & audio
Accommodation
Conferences
Other church running costs
Costs incurred on support & administration
Governance costs
Cost of independent examination
Bookkeeping & payroll
Office costs
Depreciation of tangible fixed assets
Insurance
Telephone & internet
Bank charges
Total expenditure		 2,804
200
702
86
245
-
87,603
1,980
1,980
814
669
2,290
1,132
632
72
5,610
95,193		 -
-
-
-
6,250
-
-
-
-
-
-
-
-
6,250		 2,804
200
702
86
245
-
93,852
1,980
1,980
814
669
2,290
1,132
632
72
5,610
101,443		 2,840
200
1,521
-
-
-
91,309
1,800
1,800
741
882
3,269
1,099
604
53
6,648
99,758
c In addition to the fees payable for the preparation and examination of the accounts, the charity paid £879 (2023: £801)
and consultancy services.		 to Stewardship for payroll bureau
Grants payable Institutions Individuals 2024
£ £ £
Christian Family Church, Swaziland [Overseas mission] 3,225 - 3,225
FIND (Families in Need) [Relief of poverty] 5,459 - 5,459
CYM (Christian Youth Ministries Ipswich) [UK mission] 2,832 - 2,832
Talitha Koum [UK mission] - - -
Shalom India Ministries [Overseas mission] - 1,800 1,800
Cox family - 3,788 3,788
Individuals and other grants less than £1,000 228 783 1,011
11,744 6,371 18,115
The comparatives for the previous year are as follows: Institutions Individuals 2023
£ £ £
Christian Family Church, Swaziland [Overseas mission] 3,420 - 3,420
FIND (Families in Need) [Relief of poverty] 5,774 - 5,774
CYM (Christian Youth Ministries Ipswich) [UK mission] 2,766 - 2,766
Talitha Koum [UK mission] 100 - 100
Shalom India Ministries [Overseas mission] - 1,657 1,657
Individuals and other grants less than £1,000 228 1,032 1,260
12,288 2,689 14,977

Page 12

FIELDS CHURCH LTD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

7

Gross wages and salaries
Social security
Analysis of staff costs, the cost of key management personnel and trustee remuneration and expenses		 2024
£
55,192
-
55,192		 2023
£
50,110
-
50,110

The average monthly number of employees during the year was 4 (2023: 4). Most of the charity's activities are carried out by volunteers.

No staff received salaries at a rate of more than £60,000 per annum.

The charity's key management comprise the trustees and the key staff named on the Company Information page. Total employment benefits payable to key management for the year were as follows:

management for the year were as follows:
Other Employer
Wages & employment pension 2024
salaries benefits contributions £
Trustees:
Richard Smith 36,292 - - 36,292
The following amounts were charged in the previous year: Other Employer
Wages & employment pension 2023
salaries benefits contributions £
Trustees:
Richard Smith 36,292 - - 36,292

Richard Smith served as a church leader and received the above payments for serving in that capacity, not for serving as a trustee; these payments are permitted by the charity's governing document.

In addition the charity incurred expenditure totalling £603 (2023: £510) to Richard Smith, trustee, in respect of the customary provision of travel costs so that he could better perform his duties.

No trustees received employment benefits in either the current or preceding year.

8
Tangible fixed assets		 Computer
equipment		 Property
Improvements		 Furniture Other
equipment		 Total
2024
£ £ £ £ £
Cost
At 1 September 2023
Additions
Disposals
At 31 August 2024
Accumulated depreciation
At 1 September 2023
Charge for the year
Eliminated on disposal
At 31 August 2024
Net book value
At 31 August 2024
At 1 September 2023
9
Debtors
Falling due within one year:
Tax recoverable
Prepayments and accrued income
10
Cash at Bank and in Hand
Cash at bank with immediate access
Notice deposits (with a term of three months or less)
Petty cash		 10,186
-
-
10,186
9,256
424
-
9,680
506
931		 -
-
-
-
-
-
-
-
-
-		 5,760
0
-
5,760
4,704
1,056
-
5,760
0
1,056		 7,383
-
-
7,383
4,362
810
-
5,172
2,211
3,021
2024
£
4,071
1,951
6,022
2024
£
95,761
-
-
95,761		 23,329
0
-
23,329
18,322
2,290
-
20,612
2,718
5,008
2023
£
2,922
1,674
4,596
2023
£
96,887
-
-
96,887

Page 13

FIELDS CHURCH LTD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

11
Creditors: liabilities falling due within one
Trade creditors
Accruals
12
Funds
Designated Funds
Church Tithe Fund
Pledges
General Unrestricted Funds
Total Unrestricted Funds
Restricted Funds
Eswatini Fund
FIND
Suffolk Youth / The Hive
Guest speaker gifts
Care Fund
Bal Krishna India fund
Tearfund fundraising
Kaleidoscope (Ladies ministry)
Valour - Mens Conference
Support fund - Cox family
Other restricted funds
Aggregate of funds		 year
Opening
balance
2024
£		 Incoming
resources
2024
£		 Outgoing
resources
2024
£		 Transfers
in the year
2024
£		 2024
£
5,328
1,920
7,248
Gains and
losses
2024
£		 2023
£
9,635
2,040
11,675
Closing
balance
2024
£
-
12,406
12,406
82,127
94,533
-
-
283
-
-
-
-
-
-
-
-
283
94,816		 138
138
95,707
95,845
560
1,655
-
170
1,000
-
312
500
50
3,788
-
8,035
103,880		 (11,464)
-
(11,464)
(83,729)
(95,193)
(425)
(1,655)
(212)
(170)
-
-
-
-
-
(3,788)
-
(6,250)
(101,443)		 11,464
-
11,464
(11,464)
-
-
-
-
-
-
-
-
-
-
-
-
-		 -
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 -
12,544
12,544
82,641
95,185
135
-
71
-
1,000
-
312
500
50
-
-
2,068
97,253

Page 14

FIELDS CHURCH LTD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

Analysis of net assets by fund

The assets and liabilities represented by the various funds are as follows:

sis of net assets by fund
ssets and liabilities represented by the various funds are as follows:
Fixed assets
Stock and debtors
Cash at bank and in hand
Current liabilities		 General
Designated
funds
funds
£
£
Unrestricted Funds		 Restricted
funds
£		 2024
£
General
funds
£
2,718
6,022
81,149
(7,248)
82,641		 -
-
12,544
-
12,544		 -
-
2,068
-
2,068		 2,718
6,022
95,761
(7,248)
97,253

Fund Transfers

The General Fund has made transfers into the restricted funds to cover any excess expenditure in the funds

A transfer has been made from the General Fund to the Designated Church Tithe Fund which is reflective of 10% of congregational giving including Gift Aid.

The comparatives for the previous year are as follows:

The comparatives for the previous year are as follows:
Designated Funds
Church Tithe Fund
Pledges
General Unrestricted Funds
Total Unrestricted Funds
Restricted Funds
Eswatini (Prev. Swaziland Funds)
FIND
Suffolk Youth / The Hive
Guest speaker gifts
Care Fund
Bal Krishna India fund
Other restricted funds
Aggregate of funds		 Opening
balance
2023
£
674
11,840		 Incoming
resources
2023
£
-
-
-
98,464
98,464
665
2,265
-
240
300
-
-
3,470		 Outgoing
resources
2023
£
(11,000)
-
(11,000)
(85,750)
(96,750)
(665)
(2,280)
(715)
(240)
(683)
-
-
(4,583)		 Transfers
in the year
2023
£
10,326
566
10,892
(11,275)
(383)
-
-
-
383
-
-
383		 Gains and
losses
2023
£
-
-
-
-
-
-
-
-
-
-
-
-		 Closing
balance
2023
£
(0)
12,406
12,514
80,688		 12,406
82,127
93,202 94,533
-
15
998
-
-
-		 -
-
283
-
-
-
-
283
1,013
94,215 101,934 (101,333) - - 94,816

Page 15

FIELDS CHURCH LTD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

Analysis of net assets by fund (prior year)

The assets and liabilities represented by the various funds were as follows:

sis of net assets by fund (prior year)
ssets and liabilities represented by the various funds were as follows:
Fixed assets
Stock and debtors
Cash at bank and in hand
Current liabilities		 General
Designated
funds
funds
£
£
5,008
-
4,596
-
84,198
12,406
(11,675)
-
82,127
12,406
Unrestricted Funds		 Restricted
funds
£
-
-
283
-
283		 2023
£
5,008
4,596
96,887
(11,675)
General
funds
£
5,008
4,596
84,198
(11,675)
82,127
94,816

The designated tithe fund is an unrestricted fund designated by the Trustees to allow for future external giving.

The designated pledge fund is an unrestricted fund designated by the Trustees for future development of the Church, in particular areas, for example church growth, the need to expand into a different building, preferably owned

The Eswatini Fund (previously known as Swaziland Fund) is for the support of the work of overseas missionaries in Africa. The FIND fund is to support a registered charity in Ipswich (Families in Need).

The Suffolk Youth / The Hive fund relates to funds donated for Youth activities.

The guest speaker fund relates to gifts given by church members for the ministries of visiting speakers.

The Care fund relates to gifts given by church members to assist in the wellbeing of other church members, and the community of Kesgrave The Bal Krishan India Fund is for the support of the work of overseas missionaries in India.

Tearfund fundraising relates to monies raised via an annual Quiz Night held on behalf of Tear fund

Kaleidoscope (Ladies ministry) relates to gifts given by church members to assist in the running a church ladies group

Valour - Mens Conference relates to gifts given by church members to assist those on low income to attend the annual Bradford conference Support fund - Cox family relates to gifts given by church members to assist the family of a member of the church who passed away

13 Transactions with related parties

During the year the charity:

14 Members

Each member of the company commits to contribute if the charity is wound up an amount of £10.

Page 16

FIELDS CHURCH LTD

DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES

FOR THE YEAR ENDED 31 AUGUST 2024

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Charitable activities
4
Investments
5
Total income and endowments
EXPENDITURE ON:
Charitable activities:
6
TOTAL EXPENDITURE
Net gains/(losses) on investments
Net income/(expenditure)
Transfers between funds
12
Other recognised gains/(losses):
Gains/(losses) on revaluation of fixed assets
Other gains/(losses)
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
12
Actuarial gains/(losses) on defined
benefit pension schemes		 2024
£
Unrestricted Fu		 2023
£
nds - General		 2024
£
Unrestricted Fun		 2023
£
ds - Designated		 2024
£
8,035
-
-
Restricte		 2023
£
3,470
-
-
d Funds		 Total
Funds
2024
£
103,876
-
4		 Total
Funds
2023
£
101,933
-
1
95,704
-
4		 98,463
-
1		 138 -
95,707 98,464 138 - 8,035 3,470 103,880 101,933
83,729 85,750 11,464 11,000 6,250 4,583 101,443
101,333
83,729 85,750 11,464 11,000 6,250 4,583 101,443 101,333
-
-
11,978 12,714 (11,326) (11,000) 1,785 (1,113) 2,437 601
(11,464) (11,275) 11,464 10,892 - 383 - -
514 1,439 138 (108) 1,785 (730) 2,437 601
-
-
-		 -
-
-
514 1,439 138 (108) 1,785 (730) 2,437 601
283
2,068		 1,013
283		 94,816
97,253		 94,215
82,127
82,641		 80,689
82,127		 12,406
12,545		 12,513
12,406
94,816

Differences of £1 may appear due to rounding

Page 17