Registered number". 4098986 Charlty number: 1084035 TELFORD CHRISTIANS TOGETHER UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 WR Partners Protecting your f uture.
TELFORD CHRISTIANS TOGETHER (A company Ilmlted by guarantee) CONTENTS Page Reference and adminlstrative detalls of th8 Charftable Company, Its Trustees and advisers Trustses. report Independent examinerfs report Statsmgnt of financlal a¢tlvltles 9-10 Balance sheet 12-13 Notes to the flnanclal statements 14-23
TELFORD CHRISTIANS TOGETHER (A company limlled by guarantee) REFERENCE AND ADMINISTRATIVE DEfAILS OF THE CHARITABLE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees Mr N James (reslgned 31 December 2023) Mr N Brooke (resigned 31 December 2023) Rev'd L Burke Mr B Keates (resigned 31 December 2023} Rev'd M W Lefroy Mrs J Osmund-smith Mrs S Ra}ngS (resigned 31 December 2023) Company reglslered number 4098986 Charlty reglstered number 1084035 Registered offlce Meeting Point House Southwater Square Telford Shropshir8 TF3 4HS Secretary Mrs J Osmund-smith Accountants WR Partners Chartered Accountsnts Belmont House Shr8wsbury Business Park Shrewsbury Shropshire SY2 6LG Solicitors ORJ Law Ltd Queensville, Stafford ST17 4NL Page 1
TELFORD CHRISTIANS TOGETHER (A company Ilmlted by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Twstees present their annual report together with the financial statements of the Charitable Company for the period from 1 Aprfl 2023 to 31 March 2024. The Annual report serves the purposes of both a Trustees, report and a directors. report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the Cuent statutory requirements, the requirements of the charitable companys goveming document and the provlsions of the Statement of Recommended Practice (SORP) ap[l¢able to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS102) (effective 1 January 2019). Since the Charitable Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omitted. Objectivos and activitlos a. Pollcles and objedlves The objectives of Telford Christians Together are to advance the Christian religion, the relief of povety and the advancement of education and any other purposes which are charitable according to the laws of England and Wales wlth the basis of the Charlty set out In the goveming document. The Trust8es have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Telford Christians Together operates in Telford and the surrounding areas. The Memorandum and Articles of Association restrict the Charivs activities as follows.. The activities of the Charity shall be restricted in so far as the Charity may not promote. encourage or support 8ny activity which will". a) compromise the distinctive teaching or methods of any Christian congregation or denomination; b) not18ave any individual fre8 to participate in or abstain from any activity of th8 Chaiity without stigma, except in respect of when Article 4.5 of the Articles of Association shall apply; or c) support any individual political party Telford Chrlstians Together Misslon Statement Partn8ring with Jesus Christ and His churches to see the transformation of all things in Telford & Wrekin. We aim to listen to our changing society and engage with it so as to:_ 8) Encourage and work for reconciliation. healing and wholeness for individuals and communities. b) Challenge and enable member churches to be effedlve slgns of unity to the wlder church and community. c) Assist churches to celebrate and proclaim the good news of God as revealed in Jesus Christ. In settlng oblectlves and plannlng for actlvltles, the Trustees have glven due conslderatlon to general guldance published by the Charity Commission relating to public benefit. including the guidance 'Public benefiL' running a charity (PB2>'. Page 2
TELFORD CHRISTIANS TOGETHER (A company limlted by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Objective8 and activities (continued) b. Strategies for achieving objectives The Charity supports several ecumenlcal groups across Telford, but its primary 'raison d'etre, is as an umbrella organisation, facllltatlng and supporting other voluntary-sector groups from its Me8ting Point House, base in Southwater Square, Tefford. c. Activities undertaken to achieve obfv¢tlve8 Stay: Our associated homelessness support organisation continues to support the young homeless of Telford. Due to a contraction in core funding, the numbers accommodated have fallen to around 50 at any point in time. However, the outreach servic8 funded by charitable support 15 now reaching more and more vulnerable Individuals within our area. Meetlng Polnt House: TCT retsins as interest in the operation of the facility by having trustee roles on the board. Telford Workplace Chaplalncy: The Chaplaincy continues to provide chaplains in retail and industrial settings throughout Telford. Telford Street Pastors (supported by Telford Christians Together): Telford Street Paslors, supported by TCT. malntsin a strong pres8nc8 in the night time economy in the Borough of Telford & Wrekin. Misslon Enabl8m8nt: TCT employs a Mission Enabler to stimulate networking betsveen churches and provide support and training in mission to church leaders and members. Through a local trust fund, TCT also supports Christian mission into Telford secondary schools via the Engage Schools Project. In partnership with Shropshire Hope, TCT has establlshed a local forum for mission, th8 Telford Area Mission, through which training for churches and outreach to the Community is facilitated in a collective format. Ecumenlcal groups: Continue to explore outreach within the tm). and work together on many community projects. This includes participation in events led by th8 Borough of Telford and Wrekin. pr8dominantly in the town park. Page 3
TELFORD CHRISTIANS TOGETHER (A company Ilmlted by guarants8) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achlevamenls and performance Main achievements of the Charitablo Company The year 2023 - 24 has been a time of change for TCT. while continuing to support churches and their leaders through appropriate gatherings and prayer events. Under tha banner of Mission 24, a national organisation. it has been a year focused around slgnlficant mlsslon adlvllles across a number of churches in the Borough. TCT lost its one 8mploy88, The R8V8rend Chris D8nsham our Mission Enabler whose contract came to an end on 31st August 2023. With the end of this contract TCT lost the funding for this role from the denominations. As the Trustees of TCT ar8 all volunteers. it has be8n difficult to maintsin the momentum generated by the Mission Enabler - it was always hoped to create a similar role, with continuing support from the churches and denominations but this has not been forthcoming at the moment. TCT also supports the very effective ENGAGE schools project run by the Torchbearers Trust. TCT Trustees perceived that th8re was still a need for an organisation drawing tog8th8r and promoting and coordinating projects for the churches in Telford and that this would present a financial challenge. TCT owns Morson House. a large propety situated at 14 - 16, Market Stre8t. Oakengates, a building which was donated some forty years ago to the then Telford Christian Council for project work with the homelessness in Telford. At that time STAY was part of Telford Christian Council {later TCT) and since then the STAY organisation has become a separate charity independent of TCT. Under the terms of a Lease from TCT, Morson House is currently divided into Office Space on the ground fioor and four flats above the offices all under STAY'S management. TCT Trustees considered selling the property on the open market bul chose instead to offer Morson House for the sum of £50,000 to STAY - as thls is in accordance with the charitable objects of both TCT and STAY. The offer was acc8Pt8d and th8 transfer of the property was initiated. Trustees of TCT acknowledge that the charity will lose the income from the rentsl of Morson House. However the move will allow STAY a greater independence. TCT will on completion relinquish the role of Landlord enabling the charity to focus on its primary obj8CtiV8s of supporting the work of churches in their community. Flnan¢lal revlew . Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Charitable Company has adequate r8sourc8s to continue in operational existence for the foreseeable future. For this reason, they continu8 to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going conc8m basis can b8 found in the accounting policies. Page 4
TELFORD CHRISTIANS TOGETHER (A company limitod by guarantse) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 b. Reserves pollcy The Twstees hav8 8xamined the charitys requirements for the reseNes in the light of the main risk to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets (that is those funds that ar8 freety available) should b8 at least six months and no mor8 than nin8 months expendibjre. The reserves are held in case of a sudden decline in income and ensure that commitm8nts to providing services and contractual commltments to staff can be made with some confidence. The actual free reseNes of the charity at 31 March 2024 were £ 36,529 (2023: £33,546). In calculating this amount the Trustees have excluded from lotsl funds the tangible fixed assets (£45,000>. c. Prfnclpal fundlng sources and expenditure The r8suIts for the 12 months shows expenditure on Charitable activities of £32.334 (2023: £70.880). The largest item of 8xpenditure is employment related costs at £19.310 (2023: £49.550>. The total income for the 12 months to 31 March 2024 was £37.487 (2023: £67.247) Income from donations was £18,297 of which £2,170 wore for restricted purposes. d. Material investments policy Under the Memorandum and Articles of Association the charity has the power to inv8St any money that is not Immedlately required for the furtherance of its objects after obtaining advice from a financial expert. The Trustees have agreed. have regard to liquidity requirements, to operate a working balance in a bank current account along with interest bearing deposit accounls if appropriate. Structure, governance and management a. Constltutlon T81ford Christians Together is a reglstered charlty and private company limited by guarantee wlth no Issued sharecapital, incorporated in England and Wales. The registered office is Meeting Point House. Southwater Square,Town Centre Telford, Shropshire, TF3 4HS. The registered company number is 04098986 (England & Wales), andthe registered charity number is 1084035. The Charity is controlled by its goveming document, a Memor8ndum of Association. and Constitutes a limited Gompany, limited by guarantee, as defined by the Companies Act 2006. b. Methods of appointment or electlon of Trustees The management of the Charitable Company is the responsibilty of the Trustees who are elected and co-opted under the temis of the Memorandum of Association. Page 5
TELFORD CHRISTIANS TOGETHER (A company limlted by guarantee) TRUSTEES. REPORT {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2024 Structure, governance and management {contlnued) c. Organisational structure and declslon-maklng pollcles The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the flnanclal statements were.. Mrs J Osmund-smith Rev'd M W Lefroy Re¢d L Burke Re¢rultment and appolntment of new trustees The Officers are appointed by the Annual General Meeting and the various denominational and 8cumenical groupings in Telford 8ach hav8 th8 right to nominate two individuals. Governance Members of the Ex8CUtIV8 Committ88 ar8 the Trust88s of the Charity. The number of trustees should not be less than 7 and no more than 12 and made up as follows'.- a) Ex officio members- Chairman. Vice Chairman, Honorary Secr8tsry and Honorary Treasurer. b) Two nominated member from each of the bodies:. North West Telford Churches Together North East Telford Churches Together South Telford Association of Churches Central Telford Ecumenical Partnership . Newport Churches Together Churches Together in Shifnal Churches Together In Broseley c) No more than 3 co-opted members who have spla1 knowledge or 8xp8rience. d. Polieies adopted for the Inductlon and tralnlng of Trustees On appointment each Trustee signs a code of conduct and completes a register of interests. They are glven an Induction Pack which includes the Memorandum and Articles of Association, Mission Statement, the most recent Trustees ReFM)rt and Accounts, the Annual R8view and minutes. Pag8 6
TELFORD CHRISTIANS TOGETHER (A company Ilmlted by guarantse) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 structurey governance and management (continued) . Managoment and stsfflng Management and stafflng A 5Gheme of delegation is in place and day to day responsibility for the Charity rests with the Chair. The c04)rdinating Chaplain for Workplace Chaplaincy is seconded to Work with Telford Christians Together. We have engaged a freelant£ contractor. a Chaplaincy Co-ordinator. Their activities are supported by a number of volunteers. It has long been our policy to provide opportunities for Christians to work out their discipleship in servi¢x. However, at a practical level we could not undertake some of the work we do without the loyalty, hard work and commitment of our volunteers. Prlnclpal staff of associated organlsatlons supportlng the work of Telford Chrlstlans Togother Ms Naomi Pay- Chi8f Ex8cutlve of Telford Christian Council Supported Housing Revd. Keith Osmund-smith - COrdInatIng Chaplain Workplace Chaplaincy . Ms Farisai Nyaoda - Finance Manager of Telford Chrlstian Council Supporting Housing Groups entltled to representation on the Executlve Commlttee North West T81ford Churches Together North East Telrord Churches Together . South Telford Association of Churches . Central Telford Ecumenical Partnership . Newport Churches Together Truste. liablllty As a company limited by guaranlee. Telford Christians Together Trustees will exercise reasonable skill and car8 in the govemance of the Chaty, taking responsSbility for any liabilities incurred. Their personal liability is limited to £1 under the conditions of Companies House requirements providing they govem prudently and lawfully within the company's governing document. Any breach of trust will rend8r the Trustees jointly liable for that breach. Page 7
TELFORD CHRISTIANS TOGETHER (A company Ilmlted by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 ststement of Trustees. responsibilities The Trustees (who are also the directors of the Charitable Company for the purposes of company law) are sponsible for preparing the Trustees, report and the financial statements in accordancè wilh applicable law and United Kingdom Accounting Standards (United Kingdom Generally Acc8Pted Accounting Pradicel. Company law requires the Trustees to prepare financial ststements for each flnanclal year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charitsble Company and of its incoming resources and application of resources. including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then appty them conslstently,. obseNe the methods and principles of the Charities SORP (FRS 102)" make Judgments and accounting estimates that are reasonable and prudent. state whether applible UK Accounting Standards {FRS 102} have been followed, subject to any material departures disclosed and explained in the financial ststements: prepare the financial statements on the going concem basis unless it is inappropriate to presume that the Charitable Company will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charitable Companys transactions and disclose with reasonable accuracy at any time the financial position of the Charitable Company and enable them to ensure that the financial statements comply wtth the Companies Act 2006. They are also responsible for Safeguarding the assets of the Charitable Company and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by: rsJO Trust88 mund-smlth Date: Page 8
TELFORD CHRISTIANS TOGEfHER (A company limlted by guarant•o) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Independent examlnerfs report to the Trustees of Telford Chrlstlans Together (Yhe Charitable Company.) I report to the charity Trustees on my examination of the accounts of the Charitsble Company for the year ended 31 March 2024. Responsibiliti•s and basis of roport As the Trustees of the Charltable Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the r8quir8ments of the Companies Act 2006 {'the 2006 ACV). Having satisfied myself that the accounts of the Charitable Company are not required to be audited under Part 16 of the 2006 Act and are ellglble for Independent examination, I report in respect of my examination of the Charitable Cornpanrfs accounts 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(5Xb) of the 2011 Act. Page 9
TELFORD CHRISTIANS TOGETHER (A company limited by guarantee> INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Independent examlnerfs statement I have completed my examination. I confirm that no matters have come to my attentlon In connectlon wlth the examination giving me cause to believe: accounling records were not kept in respect of the Charitable Cornpany as required by section 386 of the 2006 Act; or the accounts do not accord with those records: or the accounts do not comply with the accounting requlrements 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 consider8d as part of an independent examination" or the accounts hav8 not b&en prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities lappllcable to charlties preparfng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102>]. I have no concems and have come across no other matters in connection with the examination to which attentlon should be drawn in this report in order to enable a proper understanding of the accounts to be reached. This report is made solely lo the Charitable CompanYs Trustees, as a body, in accordan with Part 4 of the Charities {Accounts and R8POrts} R8gulations 2008. My work has been undertaken so that I might state to the Charitabl8 CompanVs Trust88s th088 matters l am required to state to them in an Independent examinerfs report and for no other purpose. To the fullest extent permitted by taw, I do not accept or assume responslblllty to anyone other than the Charitable Company and the Charitable Companls Trustees as a body, for my work or for this report. Signed: Dated: Ib <oLF S J Tweedle Bsc FCA DChA Belmont House Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG Page 10
TELFORD CHRISTIANS TOGETHER (A company Ilmlted by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Noto Income from: Donations and legacies Charitable activities Investments 2,170 16,127 19,189 18,297 19.189 47.019 20,228 Total income 2,170 35,317 37A87 67,247 Expenditure on.. Charitsble activities 32,334 32,334 70,880 Total expendlture 32,334 32,334 70.880 Net movement In funds 2,170 2.983 5.153 (3,633) Reconciliation of funds: Total funds brought forvlard Net movement in funds 1,490 2,170 78.546 2.983 80.036 5,153 83.669 (3.633) Total funds carried forward 3,660 81,529 85,189 80,036 The Ststement of financial activities includes all gains and losses recognised in the year. The notes on pages 14 to 23 fomi part of these financial statements. Pag8 11
TELFORD CHRISTIANS TOGETHER IA company Ilmhed by guarantee) REGISTERED NUMBER: 4098986 BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Fixed assets Tangible assets 11 45,000 45,000 45,000 45,¢0 Current assets Debtors Cash at bank and in hand 12 1,686 42,652 18,288 37,800 44,338 56,088 Creditors: amounts falling due within one year 13 (4,149) (21,052) Net current assets 40,189 35,036 Total assets less current liabilities 85,189 80,036 Net assets 85,189 80,036 Total net assets 85.189 80,036 Page 12
TELFORD CHRISTIANS TOGETHER (A company limltad by guarnntee) REGISTERED NUMBER: 4098986 BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2024 2024 2023 Note Charlty funds Restricted funds Unrestricted funds 14 14 3,660 81,529 1.490 78.546 Total funds 85,189 80.036 The Charitsble Company was entitled to 8xemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audlt for the year In question in accordance with section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepad in accordanc8 With the provisions applicable to entiti8s subj8Ct to the small companies regime. The financial statements were approved and authorised for issu8 by th8 Trust88s and signed on their behalf by.. rsJO Trustee mund-smith Date: /0 The notes on pages 14 to 23 form part of these financial statements. Page 13
TELFORD CHRISTIANS TOGETHER (A company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 General Informatlon Telford Christians Together (TCT) is a charitable company limited by guarantee incorporated in England and Wales. The registered office is Meeting Point House, Southwater Square, Telford, Shropshire TF3 4HS. Accounting polici88 2.1 Basis of preparatlon of flnanclal Ststements The flnanclal ststements have been prepared in accordance with the Charities SORP (FRS 102> - Accounting and Reporting by Charilies: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effectlve 1 January 2019), the Flnanclal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Telford Chrlstlans Together meets the deflnltlon of a publlc beneflt entlty under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless Otherwise stated in the relevant accounting policy. 2.2 Income All income is recognised once the Charitable Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. 2.3 Expenditure Exp8nditur8 is recognised onc8 th8r8 is a legal or constructive obligation to transfer 8conomic b8n8fit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obllgation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the totsl of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs whlch contribute to more than one activSty and support costs whlch are not attributable to a single activity are apportioned between Ihos8 activities on a basis consistent with the use of resource5. Central staff costs are allocated on the basis of time spenl, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable activities is incurred on directty undertaking the activities which further the Charitable Companys objectives, as well as any assoclated support costs. All expenditure is inclusiv8 of irr8coverable VAT. 2A Interest recelvable Interest on funds held on deposit is included when receivable and the amount Can be measured reliably by the Charitable Company; this is nonnally upon notification of the interest paid or payable by the institution with whom the funds are deposited. Page 14
TELFORD CHRISTIANS TOGETHER (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policles {continued) 2.5 Tangible fixed assets and depreciation Tangible fixed assets are initially recognised at cost. After reo)gnition. under the cost model. tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a langible fixed awt into its intended working condition should be induded in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated us8ful Iiv8s, using the Straight-line m8th0d. Depreclation is provided on the following basis: Freehold propety not depreclated due to expectation of high residual value Fixiures and frtlings Office equipment 250 2.6 Dobtors Trade and other deblors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount pr8paid net of any trad8 discounts due. 2.7 Cash at bank and In hand Cash at bank and in hand includes cash and short-term hlghly Ilquld investrnents with a short maturity of three months or less from the dale of acquisition or opening of the depostt or similar account. 2.8 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance sheet date as a sUIt of a past event. it is probable that a transfer of economic benefit will be required in settlement. and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charitable Company anticipatas it will pay to settle the debt or the amount it has received as advan(*d payments for the goods or services it must provide. Provisions are measured at the best estlmate of the amounts required to settle the obllgatlon. Where the effect of the time value of money is material. the provision is based on the present value of those amounts, discounted at the pre-tsx discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial actlvitses as a llnance cost. 2.9 Flnanclal inslruments The Charitable Company only has financial assets and financial liabilitiès of a kind that quallfy as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at thelr settlement value. Page 15
TELFORD CHRISTIANS TOGETHER (A company Ilmltsd by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcies (contlnued) 2.10 Pensions The Charitable Company operates a defined contribution pension sch8me and th8 p&nsion charg8 represents the amounts payable by the Charitable Cornpany to the fund in respect of the year. 2.11 Fund a¢counting General funds are unrestricted funds which are available for us8 at th8 discretion of the Trustees in furtherance of the general objectives of the Charitsble Company and which have not be&n desigLtsted for other purposes. Restricted funds are funds which are to be used in accordance with specific Strict10n$ imposed by donors or which have been raised by the Charitable Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Income from donations and lega¢les Restrlcted Unrestrlcted funds funds 2024 2024 Total funds 2024 Total fijnds 2023 Donations Similar incoming resources 2,170 16,127 18,297 46.969 50 2,170 16,127 18,297 47.019 Total 2023 27.175 19,844 47.019 Income from charitable actlvltles Unrestrlded funds 2024 Total funds 2024 Total funds 2023 Charitable rental income 19,189 19,189 20,228 Total 2023 20,228 20,228 Page 16
TELFORD CHRISTIANS TOGETHER (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Income from charltablg actlvftio$ {continuod) Investment Income Unrestricted funds 2024 Total funds 2024 Total fvnds 2023 Bank interest Analysls of expenditure on charltabla aCtItIOS Summary by fund type Re8trlctsd Unrestricted funds funds 2024 2024 Total 2024 Total 2023 Charitable activity 32,334 32,334 70.880 Total 2023 30.563 41),317 70,880 Anatysis of expenditure by activitios Activitles undertaken directly 2024 Support costs 2024 Total funds 2024 Total funds 2023 Charitable activty 29,239 3,095 32,334 70,880 Total 2023 61,114 9. 766 70.880 Page 17
TELFORD CHRISTIANS TOGETHER (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysls of expendlture by actlvltles (contlnued) Analysis of direct costs Charftsble activltles 2024 Total funds 2024 Total fijnds 2023 Staff costs 19,303 2,281 2.982 488 2,545 1,552 88 19,303 2.281 2.982 44,550 5,074 3, 752 371 2, 897 3,402 1,068 Premis8S Costs Administration costs Professional fees General expenses Office expens8S Meetlng expenses 2,545 1,552 88 29,239 29,239 61,114 Total 2023 61,114 61,114 Analysis of support costs Charitable actlvltles 2024 Total funds 2024 Total funds 2023 Staff costs Depreciation Governance costs 5,000 2, 736 2,030 3,095 3,095 3,095 3,095 9, 766 Total 2023 9, 766 9, 766 Page 18
TELFORD CHRISTIANS TOGETHER (A company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Indop8ndent oxaminer's remuneration 2024 2023 Fees payable to the Charitable Companvs independent examiner for the independenl examination of the Charitable Companys annual accounts 2,640 2.520 Staff costs 2024 2023 Wages and salarfes Contribution to deflned contrlbutlon p8nslon sch8mes 16,940 2,363 46.839 2,711 19,303 49,550 The aver8ge number of persons employ8d by the Charitable Company durlng the year was as follows.. 2024 No. 2023 No. Employees No employee received remuneration amounting to more than £60.000 in either year. 10. Trustees. remuneratlon and exp•ns6S During the year, no Trustees received any remuneration or other benefits (2023 - £NIL). During the year ended 31 March 2024. no Trustee expenses have been incurred (2023 - £NIL). Pag8 19
TELFORD CHRISTIANS TOGETHER (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 11. Tangible flxed assets Freehold Flxtures and property fittings Total Cost or valuation At 1 April 2023 45,000 13,746 58,746 At 31 March 2024 45,000 13,746 58,746 Depreciation At 1 April 2023 13,746 13,746 At 31 March 2024 13,746 13,746 Net book value At 31 March 2024 45,000 45,000 At 31 March 2023 45,000 12. Debtors 2024 2023 Due wlthln one year Trade d8btors 1,686 17,145 1, 143 Prepayments and accrued income 1,686 18,288 Page 20
TELFORD CHRISTIANS TOGETHER (A Gompany limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13. Creditors: Amounts falling due within one year 2024 2023 Trade creditors Other taxation and social securlty Other creditors Accruals and deferred income 1.509 4,420 74 1.493 15.065 2.640 4.149 21,052 Page 21
TELFORD CHRISTIANS TOGETHER (A Company Ilmltsd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14. Statement of funds Statement of funds - current year Balance at 31 March 2024 Balance at 1 April 2023 Income Expendlture Unrestricted funds General Funds Market street repair fund 54,146 24,400 35,317 (32,334) 57,129 24,4110 78,546 35,317 (32,334) 81,529 Restricted funds Telford Area Mission 1,490 2.170 3,660 Total of funds 80,036 37.487 (32,334) 85,189 Statement of funds - prior year BalanGe at 31 March 2023 Balance at l April 2022 Transfers in/out Income Expenditure Unrestricted funds General Funds Market street repair fund 57.685 24,400 40,072 (40.317J (3.294) 54.146 24,400 82,085 40,072 (40,317) (3,294) 78,546 Re$trl¢ted fvnds Telford Area Mission Engage Project Mission enablement 1,584 (94) (8,570) (21,899) 1,490 6,875 20.300 1,695 1.599 1,584 27,175 (30,563) 3,294 1.490 Pag8 22
TELFORD CHRISTIANS TOGETHER (A company Ilmlted by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCPI 2024 14. Statement of funds Icontlnuod} Total of funds 83.669 67,247 (70,880) 80.036 15. Anatysis of net assets between funds Anaty$is of net ass•ts bthvoen funds - current period Restrict•d Unrestricted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Current assets Credltors due within one year 45,000 40,678 (4,149) 45,000 44,338 {4,149) 3,660 Total 3.660 81,529 85,189 Anatysis of net assets between funds . prlor period Reslricted Unrestricted nds funds 2023 2023 Total funds 2023 Tangible fixed assets Current assets Creditors due wlthln one year 45,000 54,598 (21.052) 45,000 56, 088 (21,052) 1,490 Total 1,490 78,546 80.036 16. Pension ¢ommltm8nts The Charity operates a défined contrÉbution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by th8 Chaiity to the fund and amounted to £2.363 (2023 - £2,711). A total of £NIL (2023 - £656) were payable to the fund at the balance sheet date. 17. Related party transactions The Charitable Company has not entered Into any related paty transaction during the year, nor are there any outstanding balances owing between related parties and the Charitable Company at 31 March 2024. Page 23