restore COMMUNITY CHURCH RESTORE COMMUNITY CHURCH TRUSTEES REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 COMPANY REGISTRATION NO: 04198958 (England and Wales) CHARITY REGISTRATION NO:1086604 Restore Com munity Chu rch is a company limited by guarantee no. 4198958. Registered charity no. 1086604
restore COMMUNITY CHURCH RESTORE COMMUNITY CHURCH TRUSTEES REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 CONTENTS PAGE LEGAL ANO ADMINISTRATIVE INFORMATION REPORT OF THE TRUSTEES INDEPENDENT EXAMINERS REPORT STATEMENT OF FINANCIAL ACTIVITIES 10 STATEMENT OF FINANCIAL POSITION 11 NOTES TO THE FINANCIAL STATEMENTS 12-16 DEfAILED STATEMENT OF FINANCIAL AcfiviTIES 17 21Page
restore COMMUNITY CHURCH RESTORE COMMUNITY CHURCH TRUSTEES REPORT AND UNAUDITED FINANCIAL STATEMENTS LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEARENDED 31ST DECEMBER 2023 CHARITY REGISTRATION NUMBER". 1086604 COMPANY REGISTRATION NUMBER: 04198958 REGISTERED OFFICE: Restore Community Church 23 Canfield Road Woodford Green IG8 8JL TRUSTEES: Pauline Doyle (resigned October 20231 Clive Makombera (resigned July 20231 Andries Van Jaarsveld Ann Granger (appointed October 20221 Matthew Greene (appointed October 20231 Steven Hale (appointed October 20231 KEY MANAGEMENT PERSONNEL lan King (Senior Leaderl Joanne Mackey INDEPENDENT EXAMINER Allen Robyn and Associates Ltd Chartered Certified Accountants 367 Caledonian Road London N7 9DQ
restore COMMUNITY CHURCH RESTORE COMMUNITY CHURCH TRUSTEES REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 The Trustees are pleased to presenttheir Annual Report togetherwith the Financial Statements of the charity for the year ended 31 December 2023. The financial statements have been prepared in accordance with the accounting policies set out in Note I to the financial statements and comply with the CharitiesAct 2011, the Companie5 Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: 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) {effective 1st January 2019). Restore Community Church I'Restore'l 15 constituted as a company limited by guarantee and registered with the Charity Commission under Charity Number 1086604 with the principal aims of advancing the Christian faith, relief of poverty and sickness. The Trustees consider that Restore Community Church meets the Charity Commission's requirements to demonstrate public benefit in each of its purposes set out in this report. Introduction to the Annual Report We give thanks to God for His leading, provision, faithfulness, and favour in leading His church. Jesus says He will build His church, and it is a privilege to be part of His work at Restore. This report celebrates our life together in 2023. We hope you enjoy reading it and that it inspires you to take hold of that for which Christ Jesus took hold of you. Our Common Vision Restore is a body of believers with a vision 'to welcome everyone to walk with Jesus every day and see restoration everywhere., The heart of our mission is drawn from Isaiah 61.14, which contains the following elements: Reconcile; to see as many people as possible, from every walk of life, encounter God's love and goodness and have the opportunity to be reconciled in relationship with him. Restore; to enable people to find healingfor physical, emotional, orspiritual pain and grow into living out their God-given design. Rebuild; to positively contribute to the lives of others, living an outward-focussed and generous life, and so bringing community transformation. We aim to achieve our mission by focusing on three core areas: connecting: we encourage everyone to be part of a group, which provide5 a place of belonging, shared life, and spiritual growth. contributing: we believe that everyone can contribute to their local community in a meaningFul way using their God-given gift5, talents, and resources. celebrating: We regularly gather for worship, prayer, thanksgiving and equip ourselves for missional living. Gatherings are mainly at our various congregations, but we also periodically plan to meet as one church.
restore COMMUNITY CHURCH RESTORE COMMUNITY CHURCH TRUSTEES REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 Our Locations We meet informally in church members, homes, and other places, to share our lives with each other and with our communities. On Sundays we come together as four separate congregation5 in Woodford (in Canfield Road Chapel), Winchmore Hill {in the Winchmore Hill URC building), Loughton lin Alderton School} and Albany lin Enfield Highway Gospel Hall). In addition, some people come together in homes, to follow the online service which 15 available every week. The congregations are led by a location leader who is responsible for the pastoral, teaching, prayer, and activities at their place of meeting. We also have a house church that meet in Epping who gather in two groups {Mondays and Thursdays) to pray and put into practice scripture, and for a variety of invitational events to friend5 normally on Sundays. Overall leadership of all staff and activity in Restore is the responsibility of the Senior Leader. Restore has an office in Woodford where staff work when they are not out and about. The office is also a place for staff team meetings, to build one another up in the faith and to pray, as well as to be together to plan future actlvity. The office is also the place where the Operations Team works, to ensure that the charity runs smoothly. The office is open, with a person on reception, from Monday to Friday 9am until 4pm. Anyone in the church can phone, drop in to discuss matter5, pray, orjust visit to say hello. Worshipi Prayer and Teaching Small groups, and interest groups, where people come together to encourage each other, form the core to our aim of living meaningful relational lives, to provide pastoral and prayer support for life's ups and downs, as well as to respond to the preaching message from the Sunday services. Youth and Children Things have changed a little with the Youth this year. Due to the growing numbers of youth actively involved at each location, it was felt that the model needed to evolve to ensure the needs of the youth were being met locally and that location leaders and local congregation5 were best placed to disciple the youth in their location rather than the centralised model we returned with after Covid. Therefore, in Loughton there are regular social times held at Oakwood Hill as well a5 a younger youth small group led by Rebecca Machine and an older youth group led by Hannah Lovell. In Albany the Friday evening youth group is going well and this Easter we held our first Youth Holiday Club. In Woodford the youth continue to grow in number and depth and are regularly involved in leading worship and services. Winchmore and Epping have no formal youth plans currently though they still have contact5 and connection points with some on a more informal basis.
restore COMMUNITY CHURCH RESTORE COMMUNITYCHURCH TRUSTEES REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 The Children's work continues to grow, and the planning is still largely being done by Kerry Cannon, printed and prepared by the interns and then shared and used as needed by all locations. Loughton has a very large number of children and we have been excited recently to see some of our Noah's Ark Families visit services at Alderton. Aline, one of our interns has also been running a small dance group midweek for some of our Loughton based children. I would also like to recognise all that Harry Carter contributes to the Children's team at Loughton. All Our People The Trustees appreciate all the volunteers and members of the church who make our church family a lively community, and without whom the good news of Jesus would not be shared in word and deed, and the vision would not be fulfilled. The Trustees also wish to thank all those who gave financially to the glory of God. The Trustees are grateful for all the staff for their commitment and dedication over the year. Through the grace of God, we can once again celebrate all that was achieved during the year. Restore, in line with its vision, welcomes everyone to walk with Jesus every day and see restoration everywhere. The community engagement activities are open to, and usually intended for, all residents of the communities where we operate. Restore is a significant provider of services to the local community, a core belief being that the church needs to demonstrate God's love in practical ways as well as through introducing people to Jesus. Some of the community activities are run in partnership with statutory and other agencies. The highlights for 2023 consist of the.. new people and returning people into the congregations over 2023 varied community engagement initiatives which are helping to transform and restore our communities, such as: Grow Community Garden Playgroups: Noah's Ark and Rainbow Club as well as free Holiday Clubs TLG (Transforming Lives for Good} I:1 coaching for primary aged children. GrowBaby - a free service helping mums with equipment & clothes for their children. More than a Song Seniors Choir, CAP Money Course the whole work of Beyond Ourselve5, which now funds and provides partnership direction for both the education and wellbeing of children across the Copperbelt region of Zambia. Further information of some of these community initiatives are given in the Trustees report for our sister charity, Restore Community (Charity Number 1165654). The Trustees also want to thank those staff those who have moved on from Restore in recent months to pastures new, especially Matthew Chow.
restore CONMUNITY CHURCH RESTORE COMMUNITYCHURCH TRUSTEES REPORT AND UNAUDITED FINANCIAL ATEmENTs FOR THEYE4R ENDED 31ST DECEMBER 2023 Structure and Governance Oversight of Restore is provided by the Board of Trustees, whose responsibility is to ensure the church and its activities operate within the law and achieves its charitable purpose. Leadership of Restore is entrusted to lan King, the Senior Leader who is responsible for the activities of the church. Day-to-day activities, including compliance with the Restore's policies and budgets, are delegated to the paid staff. Risk Management and Controls The Trustees set the risk appetite for financial and operational matters, and together with the senior staff, monitor this through the bi-monthly Trustee meetings. Together with the church's senior staff, the Trustees conduct a risk review of all Restore's activities. They take steps to ensure appropriate controls are in place to manage identified risks. Risk management is an ongoing concern, and the Trustee meeting agendas ensure that the main risks to the charity are kept under frequent review, including: Safeguarding, Health and Safety, Financial Management and Position, Dependency on key individuals, and Maintaining the charity's integrity. Relatlonships with Organisations and Other Charities Restore partners with parachurch organisations and charities to further the church's vision to see a restoration in people and communities beyond our local communities. Our partners, to whom we make financia I contributions, include, 'Churches Together, bodies where we have locations, Evangelica l Alliance, New Thing Europe, and iNet Trust. We also gave financial gifts to missional organi5ations such as Tear Fund, Whitechapel Mission, Operation Mobilisations and Counties. Further, Restore Community IRC) our sister charity, and community outreach arm of Restore, operates in our local communities and provides overseas focus under the brand, Beyond Ourselves. RC helps Restore run the many local outreach projects. RC, as a separate charity, streamlines the administration and builds resilience into funding these vital activities. RC is also the fundraising arm and provider of strategic partnership for Beyond Ourselves Zambia lan organisation set up in Zambia and separate to RC). More details can be found in the Trustees, Report for Restore Community. In addition to making financial contributions as described above, Restore received £6,000 from Albany Church CIO, £22,410 from New Thing Europe, and £18,333 from Magnify Foundation. Financial Position The charity's total income for the 2023 financial period increased by 16.6% to £452,571 (2022: £388,152). Most of our income continued to be derived from church member givinE, plus associated gift aid claims. Expenditure on all activities was down by 0.8 % at £434,524 (2022: £438,042). The church made a surplus for the year ended 2023 of £18,047 {2022:1£49,890)). Total funds carried forward on 31st December 2023 were £56,66612022: £47,148) an increase of approximately 20.2% when compared to 2022. Restricted funds carried forward was £3,003 {2022: £3,003) and unrestricted funds of £53,66312022: £44,145) as at 31 December 2023.
restore COMMUNITY CHURCH RESTORE COMMUNITY CHURCH TRUSTEES REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 Reserve Policy The Trustee's policy 15 to hold a minimum level of funds to ensure operations can continue should there be a downturn in income or unexpected need. Therefore, the charity should hold funds amounting to between two to four months operating costs, plus committed expenditure. The trustee's plan5 are to regain this target over a two-year period from 2024 to 2025. Grants During the year a grant to our sister charity RC was made, to assist with their salary costs, equal to £15,069 (2022: £57,525). During the year Restore Community repaid an amount of £4,518 as a contribution towards the salary costs of staff who delivered funded projects. The Chair of Trustees signs this Annual Report on behalf of the Board of Trustees. ON BEHALF OF THE BOARD: Accountants The accountants, Allen Robyn & Associates Ltd will be proposed for re-appointment at the forthcoming Annual General Meeting. ON BEHALF OF THE BOARD: An van Jaarsveld Chair of Trustees Date 81Page
restore COMMUNITY CHURCH REPORT OF THE INDEPENDENT EXAMINER TRUSTEES REPORT AND UNAUDITED FINANCIAL ATEmENTs RESTORE COMMUNITY FOR THEYEAR ENDED 31ST DECEMBER 2023 I report on the accounts for the year ended 31 December 2023 Set out on pages twelve to sixteen. Responsibilities and basis of Report As the charity's trustees of the Company (who are also the directors of the company for the purposes of company lawl, 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 for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charivs 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(5llbl of the 2011 Act. Independent Examiner's Statement The company's gross income exceeded £250,000 and l am qualified to undertake the examination by being a qualified member of the Association of Chartered Certified Accountants. I have completed my examination. I confirm that no material matters have come to my attention (other than that disclosed below ') which gives me cause to believe that: accounting records were not kept in accordance with section 386 of the Companies Act 2006; or the accounts do not accord with such records; or the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a "true and fairf, view which is not a matter considered as part of an independent examination, or the accounts have not been prepared in accordance with the Charities SORP {FRS102} I have no concerns and have corne 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 financial statements to be reached. Signed: Rolston Allen (FCCA) Allen Robyn & Associate5 Ltd Chartered Certified Accountants 367 Caledonian Road London N7 9DQ Date:
restore COM14UNITY CHURCH REoRE COMMUNITY CHURCH TRUSTEES REPORT AND UNAUDITED FINANCIAL ATEmENTs ATEMENT OF FINANCIAL ACTIVITIES FOR THEYEAR ENDED 31ST DECEMBER 2023 Unrestricted Restricted INCOMING RESOURCES Notes Funds Funds Total Total Incoming resourcesfrom generatedfvnds 2023 2022 Donations and Other Income 452 571 452 571 388 152 RESOURCES EXPENDED Cha ritable Activities 317,183 317,183 320,015 Support Costs 112,869 112,869 110,931 Governance Costs TOTAL RESOURCES EXPENDED 434 524 434 524 NET INCOME/EXPENDITURE FOR THE YEAR £18.047 £18,047 (£49,890) Transfer of Funds 18,5291 18,529) 12,240 Total Funds Brought Forward TOTAL FUNDS CARRIED FORWARD None of the charity's activities were acquired or discontinued during the year and there were no recognised gains and losses for 2023, nor in the prior year other than those included in the statement of financial activities. The notes on pages 12 to 16 form part of these accounts. IOIPage
restore COMMUNITY CHURCH RESTORE COMMUNITY CHURCH TRUSTEES REPORT AND UNAUDITED FINANCIAL STATEMENTS STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 31ST DECEMBER 2023 Total Funds 2023 Total Funds 2022 FIXED ASSETS Notes Tangible Assets CURRENT ASSETS Debtors Cash at bank and in hand 9,488 16.649 CREDITORS: within one year Net Current Assets £50 679 £38 337 TOTAL ASSEfs LESS LIABILITIES FUNDS: Restricted Funds U nrestricted Funds 2023 3,003 2022 3,003 io io The Trustees are satisfied that the charity is entitled to exemption from the requirement to obtain an audit under the Charities Act 2006. The member has not required the company to obtain an audit in accordance with the section 476 of the Act. The Trustees acknowledge their responsibilities for complying with the requirements of the Charities Act 2006 with the respect to accounting records and the preparation of accounts. These financial statements have been prepared in accordance with the provisions applicable to companies subject to small companies, regime. The financial statements were approved by the Board of Trustees on ............. signed on its behalf by. and (Chalr) v No: 04198958 ' The notes on pages 12 to 16 form part of these accounts. 11 I Page
restore COMMUNITY CHURCH RESTORE COMMUNITY CHURCH TRUSTEES REPORT AND UNAUDITED FINANCIAL STATEMENTS NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2023 I. ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements have been prepared in accordance with the Charity's Act 2011, the Companies Act 2006 and Accounting and Reporting by Charities: 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 IFRS 1021" (effective I'january 20191. The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound. Accounting convention The financial statements have been prepared under the historical cost convention, the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities. Going Concern At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. Tithes & Offerings Income from tithes and offerings, 15 included in incoming resources when these are receivable. Investment Income Investment income consists of net interest received during the year and accounted for as unrestricted fund. Incoming Resources All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Cash and other donations are recognised on receipt unless performance conditions require deferral of the arnount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. 12 | Page
restore COMMUNITY CHURC RESTORE COMMUNITY TRUSTEES REPORT AND UNAUDITED FINANCIAL STATEMENTS NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2023 Resources Expended All expenditure is accounted for on an accrual basis and has been classified under headings that aggregate costs related to the category. Expenditure is recognised when there 15 a legal or constructive obligation to make payment5 to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably. The charity is not registered for VAT and accordingly expenditure is shown gross of irrecoverable VAT. Costs of generating funds include salary, direct expenditures, and overhead costs of staff to promote fundraising including events, Governance costs are those incurred in connection with the administration of the Charity and compliance with constitutional and statutory requirements. Resources expended are allocated to a particular activity and are costed based on the activity. Funds Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity. Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Furniture and musical equipment 33.3% on straight line Leases Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight-line basis over the term of the relevant lease. 131 Page
restore COMMUNITY CHURCH RESTORE COMMUNITY CHURCH TRUSTEES REPORT AND UNAUDITED FINANCIAL STATEMENTS NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2023 2. DONATIONS AND OTHER INCOME Unrestricted Restricted 2023 2022 Donation gift aided Donation non - gift aided Gift aid income Grants Gifts received Magnify Foundation Other income 255,663 66,698 73,041 16,470 200 18,333 255,663 66,698 73,041 16,470 200 18,333 252,676 31,796 54,262 2,877 27,810 6,967 Total Income 3. CHARITABLE AcnviTIES Charitable expense Support cost Governance cost Unrestricted 317,183 112,869 Restrirted 2023 317,183 112,869 2022 320,015 110,931 4. SUPPORT COSTS Premises cost Insurance Publicity and Website Office, IT & software Hospitality, events, worship and services Intern costs Depreciation 2023 63,313 6,121 3,266 21,881 6,030 5,672 2022 56,834 5,151 4,549 18,169 9,680 6,076 5.GOVERNANCE COSTS Legal and professional fee5 Accountancy and examiners 2023 2022 1,952 4,576 141Page
restore CONMUNITY CHURCH RESTORE COMMUNITY CHURCH TRUSTEES REPORT AND UNAUDITED FINANCIAL sfATEMENTS INCOME AND EXPENDITURE FOR THE YEAR ENDED 31ST DECEMBER 2023 6. TANGIBLE FIXED ASSETS Fixtures Furniture & E ui ment Total COST At 1st January 2023 Additions for the year 56,224 56,224 Cost at 31st December 2023 DEPRECIATION Opening Balance Charge for the year 47,413 47,413 NEf BOOK VALUE As at 31st December 2023 As at 31st December 2022 7. TRUSTEES REMUNERATION AND BENEFITS Tru5tee5' expenses There are no paid trustees. All tasks are carried out by Trustees who are not remunerated and do not receive any expenses or benefits for their activities. IS I Page
restore COMMUNITY CHURCH RESTORE COMMUNITY CHURCH TRuEEs REPORT AND UNAUDITED FINANCIAL sfATEMENTS NOTESTO THE ACCOUNTS FOR THEYEAR ENDED 31ST DECEMBER 2023 . STAFF COST 2023 2022 Salaries and wages Social security Cost Pension cost 232,795 14,642 207,046 15,395 9. CREDITORS: within one year 2023 2022 Other Creditors 10. MOVEMENTS IN FUNDS Incomin Resources Resources ended Movement in Funds Unrestricted Funds £452,571 £432,004 £20,567 Restricted Funds £4 Transfer of Funds Movement in funds Analysis of Funds Restricted 1.01.2023 31.12.2023 3,003 3,003 Unrestricted Total funds 16 | Page
restore COMMUNITY CHURCH RESTORE COMMUNETY CHURCH TRUSTEES REPORT AND UNAUDITED FINANCIAL STATEMENTS DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEARENDED 31ST DECEMBER 2023 Incoming Resources: Donations and other income Donation gift aided Donation non - gift aided Gift aid income Grants Gifts received Magnify Foundation Other income 2023 2022 255,663 66,698 73,041 16,470 200 18,333 252,676 31,796 54,262 2,877 27,810 6,967 Total incoming resources RESOURCES EXPENDED: Charitable Activities Church, pastoral and mission Salaries and wages Community Payroll cost Welfare and gifts 2023 26,505 265,620 15,069 1,102 2022 19,804 237,013 57,525 1,502 SUPPORT COST Premises cost Insurance Publicity and Website Office, IT & software Hospitality, events, worship, and services Intern costs Depreciation 63,313 6,121 3,266 21,881 6,030 5,672 56,834 5,151 4,549 18,169 9,680 6,076 Governance cost Legal and professional fees Accountancy and examiners 1,702 4,576 09 Total resources expended Net income over expenditure 171Page