## 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
5. 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:
- (a) ensuring that the charitable company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its net income or expenditure for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The 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.
- b) Donated facilities, services and goods. The charity relies on volunteers to carry out many of its activities. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.
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:
- a) received donations totalling £20,971 (2023: £25,990) from related parties (which includes trustees, anyone closely connected to them and key management).
- b) During the year, no payments have been made to trustees for services provided. Any expenses paid to trustees relate to reimbursement for expenses incurred on behalf of the charity as employees or volunteers and do not relate to trustee duties or contain any profit element. (2023: £NIL)
## **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