**Inspiration – Church of the Nations Okehampton Annual Report and Unaudited Financial Statements Year Ended 30[th] April 2025** **Charity Number: 1086107** **Inspiration – Church of the Nations Okehampton Year Ended 30[th] April 2025** ## **Contents** Officers and Professional Advisers Trustees’ Annual Report Independent Examiner’s Report Receipts and Payments Account Statement of Assets and Liabilities Notes to the Financial Statements ## **Inspiration – Church of the Nations Okehampton Officers and Professional Advisors For the Year Ended 30[th] April 2025** Trustees: Mrs J A Davies Mrs L C Bird Mr J Douglas-Jones Elders: Rev M Davies Mr T Hooper Mrs J Davies Bankers: HSBC plc PO Box 26 Plymouth PL1 1DD Independent Examiner: David Pugh DP Consulting Torrington Devon EX38 7JW Charity Registration Number: 1086107 Principal Address: The Meeting Place (Formerly Okehampton Gospel Hall) Crediton Road Okehampton EX20 1LS Correspondence: 14 Pound Park Okehampton Devon EX20 1SX ## **Inspiration – Church of the Nations Okehampton For the Year Ended 30[th] April 2025** The Trustees present their report along with the financial statements of the charity for the year ended 30[th] April 2025. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the charity’s Declaration of Trust (adopted on 25[th] January 2001), and the Charities Act 2011. The Charity is administered by a Board of Trustees that is made up of at least three trustees. The trustees are appointed by a resolution passed by a simple majority at a special meeting of the trust. Elders are accountable to the trustees on the charity’s activity and business. ## **Aims and Objectives** The Charity’s aims and objectives were established as set out in its Declaration of Trust, adopted on 25[th] January 2001 are: 1) THE ADVANCEMENT OF THE CHRISTIAN FAITH 2) THE RELIEF OF PERSONS WHO ARE IN CONDITIONS OF NEED, HARDSHIP OR DISTRESS OR WHO ARE AGED OR SICK 3) THE ADVANCEMENT OF EDUCATION ON THE BASIS OF CHRISTIAN PRINCIPLES PRINCIPALLY IN THE VICINITY OF OKEHAMPTON, BUT EXTENDING TO NATIONAL AND INTERNAL WHERE DEEMED APPROPRIATE BY THE TRUSTEES ("THE AREA OF BENEFIT") ## **Review of Progress and Achievements** 2025 saw a continuation of the trustees with no additions and no resignations. The charity continued in its furtherance of running the day-to-day activities of the church and the church is now fully using the new building although some building works are continuing in order to make the property fully functional for church purposes. ## **Review of Financial Activities and Affairs** Receipts have increased by £6,656.36. Total receipts during the year amount to £38,127 with total expenditure amounting to £28,837. £2,100 was repaid on the loan. Refurbishment expenditure was spent on the Gospel Hall project of £32,517 which has been added to the value of the property. ## **Loan £200,000** A loan of £200,000 has been made available to fund the Gospel Hall project of which £135,000 has been committed in 2024. A signed loan agreement has been set up with the following: interest is charged at 0% with no repayment timeline. £2,100 of the loan has been repaid during the year leaving a year end balance of £132,900. ## **Investment Policy** There are no restrictions on the charity’s power to invest. The investment strategy is set by the trustees taking into account recent demands for funds and the need to reserve sufficient funds to cover future maintenance and running costs. ## **Reserves Policy** It is the policy of the trustees to maintain unrestricted funds, which are free reserves of the charity, at a level that equals at least six month’s unrestricted expenditure. This provides sufficient funds to cover managements, administration and support costs. Approval: The trustees annual report was approved by the trustees on 15[th ] April 2026 and signed on their behalf by: Justine Davies (Chair Person) ## **Inspiration — Church of the Nations Okehampton Independent Examiner's Report For the Year Ended 30[th ] April 2025** I report on the financial statements of the charity for the year ended 30[th ] April 2025, which are set out in these pages. ## Respective Responsibilities of Trustees and Examiner The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for the year under Section 144 (2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed: It is my responsibility to: Examine the accounts under Section 145 of the 2011 Act: To follow the procedures laid down in the General Directions given by the Charity Commission (under section 145 (5)(b) of the 2011 Act: To state whether particular matters have come to my attention. ## Basis of Independent Examiner's Report My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the financial statements present a true and fair view and the report is set out and limited to those matters set out in the statement bellows: In connection with my examination, no matter has come to my attention: - (1) Which gives me reasonable cause to believe that in any material respect requirements o To keep accounting records in accordance with Section 130 of the 2011 Act; and To provide financial statements which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met; or - (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached. David Pugh ## **Inspiration – Church of the Nations Okehampton Receipts and Payments Account For the Financial Year Ended 30[th] April 2025** |**Receipts**|**_General_**|**_Restricted_**|**_Total_**|**_Total_**| |---|---|---|---|---| ||**_Fund_**|**_Fund_**|**_2025_**|**_2024_**| ||**_£_**|**_£_**|**_£_**|**_£_**| |Tithes|26484|0|26484|14672| |Oferings|1970|0|1970|939| |Tax Repayment|6475|0|6475|4364| |Property Giving|2466|0|2466|7145| |Compassion Children|0|0|0|238| |Investment income|500|0|500|3247| |Other|232||232|866| |**Total**|**38127**|**0**|**38127**|**31471**| |**Payments**||||| |Equipment and renewals|2058|0|2058|0| |COTN Connected Cluster|2964|0|2964|2013| |Gifs & Grants|7929|0|7929|5035| |Rent|139|0|139|1760| |Insurance – General|25|0|25|249| |Insurance – Property|1557|0|1557|950| |Heat, Light, and Power|2282|0|2282|1655| |Travel & Entertainment|939|0|939|744| |Administraton|1574|0|1574|415| |Compassion Children|768|0|768|680| |NewDay United|3400|0|3400|2200| |Premises expenses – Meetng Place|2348|0|2348|2980| |Professional fees|1242|0|1242|0| |Bank Charges|124|0|124|111| |Membership and Licences|919|0|919|406| |Free 4 Life|570|0|570|1390| |**Total**|**28837**|**0**|**28837**|**20588**| |**Governance costs**||||| |Independent Examiner’s Fee (not yet paid)|590|0|590|590| |**TOTAL**|**28837**|**0**|**28837**|**20588**| |**Net (payments) / receipts (excluding examiners**|**9290**|**0**|**9290**|**10883**| |**fee)**||||| |**Bank Balances**||||| |Bank balances at 1stMay 2024|27354|||59676| |Add increase in year|8700|||10683| |Repayment of loan|(2100)|||135000| |Capital expenditure|(32517)|||(229789)| |Sale of shares|0|||51784| |Bank balance as at 30thApril 2025|1437|||27354| ## **Inspiration – Church of the Nations Okehampton For the Year Ended 30[th] April 2025 Balance Sheet** ||**2025**|||**2024**||| |---|---|---|---|---|---|---| ||**£**|**£**||**£**|**£**|| |**Fixed Assets**||||||| |Tangible assets:||||||| |Property|||388626|||356110| |**Current Assets**||||||| |Debtors|0|||0||| |Cash at Bank|1437|||27354||| ||||1437|||27354| |**Creditors: amounts falling due within one**|||590|||590| |**Year**||||||| |**Net current assets (liabilites)**|||847|||26764| |**Total assets less current liabilites**|||**389473**|||**382874**| |Creditors: amounts falling due afer one year|||132900|||135000| |**Net Assets**|||**256573**|||**247874**| |**Funds of the Charity**||||||| |Unrestricted|||**256573**|||**247874**| ## **Inspiration – Church of the Nations Okehampton For the Year Ended 30[th] April 2025 Notes to the Financial Statements** 1. Accounting Policies - a. Basis of preparation The financial statements have been prepared on the receipts and payments basis under the historical cost convention, in accordance with the applicable Accounting Standards and the Charities Act 2011. - b. General fund The general fund is unrestricted consisting of income which the charity may use for its purposes at is discretion. 2. Transactions with Trustees During the year £nil (2024: £nil) was paid to the trustees in respect of reimbursed expenses in connection with the management and administration of the charity. There were no transactions with the trustees of the charity. 3. Independent Examiner: A cost of £590 was paid to or charged by the Independent Examiner.