COMPANY REGISTRATION NUMBER: 4238391 CHARITY REGISTRATION NUMBER: 1088755
Overflow Church
Company Limited by Guarantee Unaudited Financial Statements
31 August 2024
HASWELL BROTHERS LLP
Chartered Accountants First Floor Pembroke House Ellice Way Wrexham Technology Park Wrexham LL13 7YT
Overflow Church
Company Limited by Guarantee
Financial Statements
Year ended 31 August 2024
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 9 |
| Statement of financial activities (including income and | |
| expenditure account) | 10 |
| Statement of financial position | 11 |
| Statement of cash flows | 12 |
| Notes to the financial statements | 13 |
Overflow Church
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 August 2024
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 August 2024.
Reference and Administrative Details
| Registered charity name | Overflow Church |
|---|---|
| Charity registration number | 1088755 |
| Company registration number | 4238391 |
| Principal office and registered | c/o Hoole Lighthouse Centre |
| office | Westminster Road |
| Hoole | |
| Chester | |
| Cheshire | |
| CH2 3AU | |
| The Trustees | |
| P J Stevens | |
| S D Glover | |
| G L Parsons | |
| Company Secretary | S J Mahe |
| Independent Examiner | P T Harris FCA |
- 1 -
Overflow Church
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2024
Structure, Governance and Management
The key components of the Church governance and management structure are the Board of Trustees, team leader and church leadership team. Both employed staff and volunteers play a crucial role in our ability to deliver our objectives. Our goal is to see 75% of all ages actively involved in serving as part of our extended team.
Governance
The governance of the church and charity is vested in the trustees as a body corporate. The Board of Trustees oversee the vision and strategies of the church and provide appropriate checks and balances to the governance of the charity. The full Board meets four times each year with one of those meetings held jointly with the trustees and the church's leadership team. Any appointments take account of the balance of the Board to ensure the charity operates with reference to good practice as well as the diversity of skill and experience. The final appointment is made by the trustees as set out in the Memorandum and Articles of Association. New trustees are either familiar with how a church runs because they themselves have experience or are mature members of Overflow Church. This enables each to be able to make an early contribution to the working of the Board. Copies of applicable documentation regarding the role of the Trustees (Charity Commission guide CC3 'The Essential Trustee: what you need to to know' and the Companies House 'Directors and Secretaries Guide') are provided, along with copies of the Memorandum and Articles of Association, copies of minutes and accounts.
The current Board comprises church members from the Winsford congregation together with an 'external' trustee who is involved in the leadership of HBC Chester.
Risks
Trustees actively review the major risks that the Church faces, both generally and specifically. In the current year, the greatest risks are assessed to be:
Potential risks that we identified for this financial year
Maintaining financial security due to :-
-
Financial uncertainty for people due to high inflation and rising interest rates, therefore, potentially reducing the amount people give.
-
Winsford Academy has been increasing the number of sessions we can't use in our normal space, therefore, leaving us with nowhere to meet, which will have a huge negative impact if we lose a venue to meet at.
-
Budget for 2024 to 2025 is likely to have a faith gap of between £500 and £2000 depending on the budget to be set. Therefore, potential risk is high if income does not increase.
-
Trustees - Currently Overflow Church is running on a minimum number of trustees. If one of the trustees stepped down this would be high risk.
-
Giving money outside of the UK. This money could be used wrongly and negatively impact the reputation of Overflow Church.
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Overflow Church
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2024
Key things to help reduce these risks
1) Transfer funds before the start of the 2024-25 financial year to top up our main reserves to be in line with the new budget of '1.5 months of wages and 1 month of all other expenses.'
2) Finances to be reviewed monthly with a full budget review in 6 months into the new financial year.
3) Keep booking the Academy in advance to give them as much warning as possible to let us know of any dates that are unavailable.
4) Be active in identifying any possible new trustees so we can add 1 more.
5) When giving outside of the UK, follow our financial policy. Our current giving outside of UK is low risk due to fact that this person originally attended Overflow church (Storehouse church at the time) and keeps in regular contact with photos and information of what the money is being used for.
This analysis was reviewed by a team comprising of the trustees and the church's leadership team.
Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the Charity's website. At the time of writing this report, a full update of the website has been completed ensuring all information is correct and that the website complies with GDPR legislation.
Management
The Board of Trustees has delegated day-to-day management to the team leader, assisted by the church's leadership team and staff. This is done in line with the decisions that the trustees have made. The leadership, comprising of the team leader and key leaders in the church, cover all aspects of church life and meet 10 times a year. These meetings include all areas of activity, planning and effectiveness but also matters of finance, human resources and health and safety as well as the implementation of vision and strategy.
The leadership team works with team (church) members for our Sunday meetings and in leading home-based groups mid-week.
Partnering with Other Organisations
The church recognises the benefit of collaborative working where there are shared values and objectives. This enables more efficient delivery of the charity objectives and increases local cohesion between similar organisations.
As a church we work with:
- Hoole Baptist Church Chester (registered charity 1131495)
Our partnership with HBC is continuing to grow since it commenced in January 2019. The Kingdom Alliance that was formed is working well and continues to develop. This partnership has resulted in the continued use of HBC Chester office space, HBC helping with worship leaders and speakers, as well as providing support to the leadership team. We also hold some joint meetings together.
- Churches Together in Winsford
Churches Together is a community group of churches that are based in Winsford. Together we chat about how we can work together and do joint events. In March 2024, we joined with other churches in Winsford for a march of witness on Good Friday.
- 3 -
Overflow Church
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2024
Objectives and Activities
Objectives and Mission Statement
The primary objectives of Overflow Church are:
i) To advance the Christian faith in Winsford and Cheshire, the United Kingdom, and the rest of the world and to fulfill such other purposes which are exclusively charitable connected with the work of the Church; and
ii) To relieve persons who are in conditions of need or hardship or who are aged or sick, and or relieve the distress caused in Cheshire, the United Kingdom, or other parts of the world as the Trustees see fit.
Our mission statement is:
-
Vision Statement: We want to be a church that brings healing, wholeness, and freedom to broken lives and communities as we expect great things from God and attempt great things with God.
-
Mission Statement: We want to help people to love, trust and follow Jesus.
Activities
In addressing the above objectives, our activities fall into three main categories:
Ministry
Working to help, support and connect with people, in particular to present the Christian life and faith to those who have little or no church connection or awareness.
Community
Working in partnership with churches and local agencies to serve the local community.
Grants and donations
Providing financial support to people, churches, and communities with whom we relate, both locally and overseas.
The Bible tells us that one of the purposes of ministry is to train and equip people for works of service, and so our activity seeks not only to deliver our objectives in the most effective way but also to teach and train others to do the same.
We endeavour to minimise support costs and focus on investing our resources into providing the relational support necessary for church life, in particular the ministry and community angles.
Grants are made, wherever possible, to those with whom the Church is in relationship. This reasonably assures Trustees that funds are used in accordance with our charitable objectives:
-
Overseas grants are made to churches, individuals, or ministries for activities consistent with our objectives, for example the alleviation of poverty.
-
UK grants are made to churches, individuals, or ministries consistent with our objectives. Some will be to those who visit the Overflow Church to minister.
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Overflow Church
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2024
- Grants are made for local relief of hardship within Overflow Church or the immediate area at the recommendation of the leadership team.
Summary
In summary, we seek;
-
to reach unchurched people and present the Christian life and faith.
-
to provide a caring community for those who respond.
-
to provide practical and financial help in the UK and overseas for like-minded projects.
-
to serve the people of Cheshire by planting local missional communities, as a local community partner and working together with other like-minded agencies.
Strategic Report
The following sections for achievements and performance and financial review form the strategic report of the charity.
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Overflow Church
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2024
Achievements and Performance
In the reported year, Overflow Church has looked to achieve the following:
-
Maintaining of financial security and surplus so we can increase our reserves.
-
Further develop Missional Communities.
-
Providing practical and financial help in the UK and overseas.
The Trustees are pleased to report the following progress made in these areas.
Maintaining financial security and surplus so to increase our reserves
We are pleased to have completed this financial year with income being higher than budgeted and expenditure being lower than budgeted, this follows on from the same pattern the year before.
Missional Communities
Missional Communities have gone well creating opportunities for people who wouldn't normally go to church to access these gatherings. One of our events was a BBQ where just under half of the people present were from the local community, with 25 people present.
Providing practical and financial help in the UK and oversees
We are pleased to be able to keep helping to support the work of an orphanage in Nepal by donating £960 in the financial year. We also gave a donation of £300 to Churches Together to the Open the Book project they are looking to start.
Supporting joint church youth events
We were able to use some of the team leader's time to help support joint youth work events including a youth weekend away for churches in Chester and the surrounding area.
Plans for future periods
The trustees have identified priorities in the following areas for Overflow Church's future focus.
Immediate and strategic
Looking at the next financial year, we plan to continue to stabilise and establish Missional Communities, to see Sunday attendance increase, to continue to develop our relationship with HBC and other churches through running a weekend away together, to continue to support the work in Nepal and to increase our working together with Churches Together in Winsford.
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Overflow Church
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2024
Achievements and Performance (continued)
Employed and Volunteer Staff
The Church values both its volunteers and employees highly and the provision of trained and dedicated personnel is a priority for the Church. We have deployed both employees and volunteers in leadership roles within the Church. In turn, these individuals lead, manage and support others who help with activities and events.
We seek to manage staff fairly and professionally. Our church handbook provides staff with detailed information about policies and procedures regarding financial, employment, organisation and decision-making matters. This particularly covers the areas identified on the Charity Commissioners' checklist of good practice and documentation, the delegation of authority.
Trustees' Responsibilities Statement
The Trustees (who are also the directors of Overflow Church for the purposes of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standard (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 affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the period. In preparing these financial statements, the Trustees are required to:
-
Select suitable accounting policies and then apply them consistently.
-
Observe the methods and principles in the Charities SORP.
-
Make judgements and estimates that are reasonable and prudent.
-
State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements.
-
Prepare the financial statement on the ongoing concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's 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 with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charitable company and hence for taking steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website.
Independent examiner
The charitable company's independent examiner is Mr P T Harris of Haswell Brothers LLP, Chartered Accountants.
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Overflow Church
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2024
Financial Review
Overview
The reported year resulted in a deficit totalling £8 for the year ended 31st August 2024 (2023 £1,020 deficit).
The full financial statements and associated policies and notes are included at the end of this report with some of the key points noted below:
Income
Donations and legacies has a small increase with £37,064 received in the current year compared with £33,567 in the previous year.
Income from charitable activities has increased to £7,967 from £6,097 in the previous year.
Expenses
Expenses reported show £45,141 compared with the previous year of £40,726.
Assets
Debtors comprise of £553 compare with £474. This is mainly made up of a gift aid debtor.
Fixed Assets of £151 comprise of equipment after depreciation.
Cash at bank includes general operating reserves which are held at the level agreed by the Trustees. Overflow Church’s normal practice is to utilise its resources to the maximum in order to fulfill its mission but aims to maintain sufficient reserves to pay all its bills and to retain one month’s salary expenses in reserve.
Liabilities
Creditor of £1,175 compared with the previous year of £6,859 is mainly made up of accrued expenses. The trustees' annual report and the strategic report were approved on 29[th] May 2025 and signed on behalf of the board of trustees by:
P J Stevens Trustee
S J Mahe
Charity Secretary
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Overflow Church
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Overflow Church
Year ended 31 August 2024
I report to the trustees on my examination of the financial statements of Overflow Church ('the charity') for the year ended 31 August 2024.
Responsibilities and Basis of Report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 the 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:
-
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
-
the financial statements do not accord with those records; or
-
the financial statements 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
-
the financial statements 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.
P T Harris FCA Independent Examiner Haswell Brothers LLP Chartered Accountants First Floor Pembroke House Wrexham Technology Park Ellice Way Wrexham LL13 7YT
29[th] May 2025
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Overflow Church
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 August 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 37,001 | 63 | 37,064 | 33,567 |
| Charitable activities | 6 | – | 7,967 | 7,967 | 6,097 |
| Investment income | 7 | 102 | – | 102 | 42 |
| --------------------------- | ----------------------- | --------------------------- | --------------------------- | ||
| Total income | 37,103 | 8,030 | 45,133 | 39,706 | |
| =========================== | ======================= | =========================== | =========================== | ||
| Expenditure | |||||
| Expenditure on charitable activities | 8,9 | 37,111 | 8,030 | 45,141 | 40,726 |
| --------------------------- | ----------------------- | --------------------------- | --------------------------- | ||
| Total expenditure | 37,111 | 8,030 | 45,141 | 40,726 | |
| =========================== | ======================= | =========================== | =========================== | ||
| --------------------------- | ----------------------- | --------------------------- | --------------------------- | ||
| Net expenditure and net movement | in | ||||
| funds | (8) | – | (8) | (1,020) | |
| =========================== | ======================= | =========================== | =========================== | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 5,340 | 3,085 | 8,425 | 9,445 | |
| Transfers | 3,085 | (3,085) | - | - | |
| --------------------------- | ----------------------- | --------------------------- | --------------------------- | ||
| Total funds carried forward | 8,417 | - | 8,417 | 8,425 | |
| =========================== | ======================= | =========================== | =========================== |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 13 to 21 form part of these financial statements.
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Overflow Church
Company Limited by Guarantee
Statement of Financial Position
31 August 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| Fixed Assets | |||||
| Tangible fixed assets | 15 | 151 | 316 | ||
| Current Assets | |||||
| Debtors | 16 | 553 | 474 | ||
| Cash at bank and in hand | 8,888 | 14,494 | |||
| ----------------------- | --------------------------- | ||||
| 9,441 | 14,968 | ||||
| Creditors: amounts falling due | |||||
| within one year | 17 | 1,175 | 6,859 | ||
| ----------------------- | --------------------------- | ||||
| Net Current Assets | 8,266 | 8,109 | |||
| ----------------------- | ----------------------- | ||||
| Total Assets Less Current Liabilities | 8,417 | 8,425 | |||
| ----------------------- | ----------------------- | ||||
| Net Assets | 8,417 | 8,425 | |||
| ======================= | ======================= | ||||
| Funds of the Charity | |||||
| Restricted funds | - | 3,085 | |||
| Unrestricted funds | 8,417 | 5,340 | |||
| ----------------------- | ----------------------- | ||||
| Total charity funds | 19 | 8,417 | 8,425 | ||
| ======================= | ======================= |
For the year ending 31 August 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 29[th] May 2025, and are signed on behalf of the board by:
P J Stevens Trustee
The notes on pages 13 to 21 form part of these financial statements.
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Overflow Church
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 August 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Cash Flows from Operating Activities | ||
| Net expenditure | (8) | (1,020) |
| Adjustments for: | ||
| Depreciation of tangible fixed assets | 165 | 165 |
| Other interest receivable and similar income | (102) | (42) |
| Accrued (income)/expenses | (5,682) | 6,154 |
| Changes in: | ||
| Trade and other debtors | (79) | 29 |
| Trade and other creditors | (2) | (60) |
| ----------------------- | ----------------------- | |
| Cash generated from operations | (5,708) | 5,226 |
| Interest received | 102 | 42 |
| ----------------------- | ----------------------- | |
| Net cash (used in)/from operating activities | (5,606) | 5,268 |
| ======================= | ======================= | |
| Net (Decrease)/Increase in Cash and Cash Equivalents | (5,606) | 5,268 |
| Cash and Cash Equivalents at Beginning of Year | 14,494 | 9,226 |
| ---------------- | ----------------- | |
| Cash and Cash Equivalents at End of Year | 8,888 | 14,494 |
| ========= | ========= |
The notes on pages 13 to 21 form part of these financial statements.
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Overflow Church
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 August 2024
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is c/o Hoole Lighthouse Centre, Westminster Road, Hoole, Chester, Cheshire, CH2 3AU.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going Concern
There are no material uncertainties about the charity's ability to continue.
Judgements and Key Sources of Estimation Uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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Overflow Church
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2024
3. Accounting policies (continued)
Incoming Resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources Expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible Assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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Overflow Church
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2024
3. Accounting policies (continued)
Tangible Assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
| PA & Electrical | - | Straight line depreciation over 4 years |
|---|---|---|
| Fixtures and fittings | - | Straight line depreciation over 10 years |
| Equipment | - | Straight line depreciation over 4 years |
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial Instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments which are initially recognised at transactional value and subsequently measured at their settlement value.
Defined Contribution Plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
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Overflow Church
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2024
3. Accounting policies (continued)
Defined Contribution Plans (continued)
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Limited by guarantee
The charity is a registered company limited by guarantee and has no share capital.
5. Donations and legacies
| Unrestricted | Restricted | Total Funds | ||
|---|---|---|---|---|
| Funds | Funds | 2024 | ||
| £ | £ | £ | ||
| Donations | ||||
| Tithes, offerings & donations | 30,868 | 50 | 30,918 | |
| Gift aid on above | 6,133 | 13 | 6,145 | |
| --------------------------- | -------------- | --------------------------- | ||
| 37,001 | 63 | 37,063 | ||
| =========================== | ============== | =========================== | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2023 | ||
| £ | £ | £ | ||
| Donations | ||||
| Tithes, offerings & donations | 29,818 | – | 29,818 | |
| Gift aid on above | 3,749 | – | 3,749 | |
| --------------------------- | -------------- | --------------------------- | ||
| 33,567 | – | 33,567 | ||
| =========================== | ============== | =========================== | ||
| Charitable activities | ||||
| Restricted | Total Funds | Restricted | Total Funds | |
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| The Big Weekend | 7,967 | 7,967 | 6,097 | 6,097 |
| ======================= | ======================= | ======================= | ======================= | |
| Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Bank interest received | 102 | 102 | 42 | 42 |
| ============== | ============== | ============== | ============== |
6. Charitable activities
7. Investment income
- 16 -
Overflow Church
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2024
8. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2024 | |
| £ | £ | £ | |
| Ministry costs | 35,542 | 8,030 | 40,572 |
| Mission gifts and donations | 4,534 | - | 4,534 |
| Other gifts and donations | 35 | 35 | |
| --------------------------- | ----------------------- | --------------------------- | |
| 37,111 | 8,030 | 45,141 | |
| =========================== | ======================= | =========================== | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Ministry costs | 29,489 | 6,097 | 35,586 |
| Mission gifts and donations | 5,114 | – | 5,114 |
| Other gifts and donations | 26 | 26 | |
| --------------------------- | ----------------------- | --------------------------- | |
| 34,629 | 6,097 | 40,726 | |
| =========================== | ======================= | =========================== |
9. Expenditure on charitable activities by activity type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Support | Total funds | Total fund | |
| directly | costs | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Ministry costs | 27,260 | 13,312 | 40,572 | 35,586 |
| Mission gifts and donations | 4,534 | - | 4,534 | 5,114 |
| Other gifts and donations | 35 | - | 35 | 26 |
| --------------------------- | --------------------------- | --------------------------- | --------------------------- | |
| 31,829 | 13,312 | 45,141 | 40,726 | |
| =========================== | =========================== | =========================== | =========================== | |
| Analysis of support costs | ||||
| Ministry | ||||
| Costs | Total 2024 | Total 2023 | ||
| £ | £ | £ | ||
| Staff costs | 5,677 | 5,677 | 5,301 | |
| General office | 5,983 | 5,983 | 5,332 | |
| Governance costs | 1,487 | 1,487 | 745 | |
| Depreciation | 165 | 165 | 165 | |
| --------------------------- | --------------------------- | --------------------------- | ||
| 13,312 | 13,312 | 11,543 | ||
| =========================== | =========================== | =========================== |
10. Analysis of support costs
11. Net expenditure
Net expenditure is stated after charging/(crediting):
Depreciation of tangible fixed assets
| 2024 | 2023 |
|---|---|
| £ | £ |
| 165 | 165 |
| ============== | ============== |
- 17 -
Overflow Church
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2024
12. Independent examination fees
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 732 | 732 |
| ============== | ============== |
13. Staff costs
| The total staff costs and employee benefits for the reporting period are analysed as | The total staff costs and employee benefits for the reporting period are analysed as | follows: |
|---|---|---|
| 2024 | 2023 | |
| (restated) | ||
| £ | £ | |
| Wages and salaries | 5,459 | 5,097 |
| Employer contributions to pension plans | 218 | 203 |
| --------------------------- | --------------------------- | |
| 5,677 | 5,300 | |
| =========================== | =========================== |
The figures above do not include seconded salary costs which were as detailed in note 14 below.
The average head count of employees during the year was 1 (2023: 1). The average number of full-time equivalent employees during the year is analysed as follows:
| 2024 | 2023 | |
|---|---|---|
| (restated) | ||
| No. | No. | |
| Support staff | 1 | 1 |
| ====== | ====== |
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
14. Trustee remuneration and expenses
Mr P Stevens, a trustee, is employed by a related charity, Hoole Baptist Church. As he was seconded to this charity throughout the year and the previous year, this charity has re-imbursed Hoole Baptist Church a total of £21,561 (2023 - £20,638) in respect of his salary costs.
The charity also re-imbursed Mr P Stevens travel expenses incurred on behalf of the charity totalling £787 (2023 - £862).
- 18 -
Overflow Church
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2024
15. Tangible fixed assets
| Plant and | Fixtures and | ||||
|---|---|---|---|---|---|
| machinery | fittings | Equipment | Total | ||
| £ | £ | £ | £ | ||
| Cost | |||||
| At 1 September 2023 and | |||||
| 31 August 2024 | 13,909 | 6,663 | 13,800 | 34,372 | |
| =========================== | ======================= | =========================== | =========================== | ||
| Depreciation | |||||
| At 1 September 2023 | 13,909 | 6,663 | 13,484 | 34,056 | |
| Charge for the year | – | – | 165 | 165 | |
| --------------------------- | ----------------------- | --------------------------- | --------------------------- | ||
| At 31 August 2024 | 13,909 | 6,663 | 13,649 | 34,221 | |
| =========================== | ======================= | =========================== | =========================== | ||
| Carrying amount | |||||
| At 31 August 2024 | – | – | 151 | 151 | |
| =========================== | ======================= | =========================== | =========================== | ||
| At 31 August 2023 | – | – | 316 | 316 | |
| =========================== | ======================= | =========================== | =========================== | ||
| 16. | Debtors | ||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Prepayments and accrued income | 184 | 172 | |||
| Other debtors | 369 | 302 | |||
| -------------- | -------------- | ||||
| 553 | 474 | ||||
| ============== | ============== | ||||
| 17. | Creditors: amounts falling due within | one year | |||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Trade creditors | 28 | 30 | |||
| Accruals and deferred income | 1,147 | 6,829 | |||
| ----------------------- | ----------------------- | ||||
| 1,175 | 6,859 | ||||
| ======================= | ======================= |
18. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £218 (2023: £203).
- 19 -
Overflow Church
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2024
19. Analysis of charitable funds
Unrestricted funds
| At | At 31 Aug | ||||
|---|---|---|---|---|---|
| 1 Sep 2023 | Income Expenditure | Transfers | 2024 | ||
| £ | £ | £ | £ | ||
| General funds | 5,341 | 37,103 | (37,111) | 3,085 | 8,418 |
| ======================= | =========================== | =========================== | ======================= | ======================= | |
| At | At 31 Aug | ||||
| 1 Sep 2022 | Income Expenditure | Transfers | 2023 | ||
| £ | £ | £ | £ | ||
| General funds | 6,360 | 33,609 | (34,629) | - | 5,340 |
| ======================= | =========================== | =========================== | =========================== | ======================= | |
| Restricted funds | |||||
| At | At 31 Aug | ||||
| 1 Sep 2023 | Income Expenditure | Transfer | 2024 | ||
| £ | £ | £ | £ | ||
| The Big Weekend | - | 7,967 | (7,967) | - | - |
| Purchase of small equipment | - | 63 | 63 | - | - |
| Alpha fund | 250 | - | - | (250) | - |
| Webbie Mubili fund | 2,805 | - | - | (2,805) | - |
| ======== | ========== | ========== | ========== | ========= | |
| 3,085 | 8,030 | (8,030) | (3,085) | - | |
| =========================== | ======================= | =========================== | =========================== | =========================== | |
| At | At 31 Aug | ||||
| 1 Sep 2022 | Income Expenditure | Transfer | 2023 | ||
| (restated) | (restated) | (restated) | (restated) | (restated) | |
| £ | £ | £ | £ | ||
| The Big Weekend | - | 6,097 | (6,097) | - | - |
| Alpha fund | 280 | - | - | - | 250 |
| Webbie Mubili fund | 2,805 | - | - | - | 2,805 |
| =========================== | ======================= | =========================== | =========================== | =========================== | |
| 3,085 | 6,097 | (6,097) | - | 3,085 | |
| =========================== | ======================= | =========================== | =========================== | =========================== |
The Big Weekend
Amount received for tickets sold on behalf of Hoole Baptist Church for The Big Weekend.
Purchase of Equipment
Donations received for the purchase of small equipment as determined by the donor.
Apha Fund
Donations received for expenses in relation to the Alpha course.
Webbie Mubili Fund
Donations received for the purpose of providing aid to a member of the congregation.
- 20 -
Overflow Church
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2024
Transfer of Restricted Funds
Restricted expenditure in relation to the alpha and Webbie Mubili fund was spent from the general fund in previous years. A transfer has been made from restricted funds to unrestricted funds totalling £3,085 to reflect for the amounts spent in relation to these restricted funds.
20. Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2024 | |
| £ | £ | £ | |
| Tangible fixed assets | 151 | – | 151 |
| Current assets | 9,441 | - | 9,441 |
| Creditors less than 1 year | (1,175) | – | (1,175) |
| ----------------------- | ----------------------- | ----------------------- | |
| Net assets | 8,417 | - | 8,417 |
| ======================= | ======================= | ======================= | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Tangible fixed assets | 316 | – | 316 |
| Current assets | 11,882 | 3,085 | 14,967 |
| Creditors less than 1 year | (6,858) | – | (6,858) |
| --------------------------- | ----------------------- | --------------------------- | |
| Net assets | 5,340 | 3,085 | 8,425 |
| =========================== | ======================= | =========================== | |
| Financial instruments | |||
| The carrying amount for each category of financial instrument is as follows: | |||
| 2024 | 2023 | ||
| £ | £ | ||
| Financial assets measured at fair | value through income and expenditure | ||
| Financial assets measured at fair value through income and | |||
| expenditure | 3,875 | 14,795 | |
| ======================= | =========================== | ||
| Financial liabilities measured at fair value through income and expenditure | |||
| Financial liabilities measured at fair | value through income and | ||
| expenditure | 1,175 | 6,858 | |
| ======================= | ======================= |
21. Financial instruments
22. Analysis of changes in net debt
| At | At | |||
|---|---|---|---|---|
| 1 | Sep 2023 | Cash flows | 31 Aug 2024 | |
| £ | £ | £ | ||
| Cash at bank and in hand | 14,494 | (5,606) | 8,888 |
|
| =========================== | ======================= | ======================= |
23. Related parties
The trustees donated a total amount of £5,535 during the year to the charity (2023 - £4,320).
The company secretary donated a total amount of £1,603 during the year to the charity (2023 - £1,200).
- 21 -