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← Equippers Church

2024-12-31-accounts

Charity registration number 1091642 (England and Wales) Company registration number 04395378

EQUIPPERS CHURCH

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

EQUIPPERS CHURCH

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr M Collard Mr J Everitt Mrs I Jack Mr B Anthony Mr S Monk Mr S Malcolm Secretary S Gordon Charity number (England and Wales) 1091642 Company number 04395378 Principal address Suite 4 45-47 Monument Hill Weybridge Surrey KT13 8RN Registered office Suite 4 45-47 Monument Hill Weybridge Surrey KT13 8RN Auditor Caladine Limited Chantry House 22 Upperton Road Eastbourne East Sussex BN21 1BF

(Appointed 29 January 2025) (Appointed 29 January 2025) (Appointed 15 May 2025)

EQUIPPERS CHURCH

CONTENTS

Page
Trustees' report 1 - 4
Statement of Trustees' responsibilities 5
Independent auditor's report 6 - 8
Statement of financial activities 9
Statement of financial position 10
Statement of cash flows 11
Notes to the financial statements 12 - 29

EQUIPPERS CHURCH

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024

The Trustees present their annual report and financial statements for the year ended 31 December 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, 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 (FRS 102)" (effective 1 January 2019).

Objectives and activities

The purpose of the Equippers Church charitable company is to advance the Christian faith for the public benefit in accordance with the Statement of Beliefs outlined in our Articles of Association in such parts of the UK or the world as the trustees deem fit. The trustees have regard to the Charity Commission’s guidance on public benefit when exercising any powers or duties to which the guidance is relevant.

There are over 50 different Equippers locations globally which share the same vision and values. This charitable company, Equippers Church, comprises two church locations: Weybridge and Richmond. Equippers Church is a vibrant organisation which is part of the Acts Churches UK movement.

Public Benefit

The Trustees have regard to the Charity Commission’s guidance on public benefit when exercising any powers or duties to which the guidance is relevant in deciding what activities should be undertaken.

Principal Activities

Our principal activities are:

Achievements and performance

(i) Provision of Christian events and education

The vision of the charity is to “Equip people for life through faith in Jesus Christ”. This is done primarily through Christian events and education. Teaching on the Christian faith is done through regular Sunday meetings, midweek events such as Connect Groups, youth and young adults programmes, and through other conferences and events. These activities are open to all.

In 2024, two other churches in the UK transitioned to become part of the Equippers network and we celebrated and supported the launch of Equippers Bristol and Equippers Swindon. Through shared resources, support, conferences and events we are helping to equip these new locations to reach more people nationally.

Sunday Services

Equippers Church currently meets in two locations: Weybridge and West London. Weybridge had an average weekly attendance of over 600 people across 3 services in 2024. In West London there were an average of 73 people attending one morning service.

We love welcoming first time visitors and in 2024 we saw 1,053 new visitors attend our Sunday services. During the year we also celebrated 171 salvation responses and 15 baptisms.

Both locations put on special Christmas events which are particularly popular, with Weybridge running 5 sold out Christmas Shows over one weekend, with 1,345 tickets sold in total, including 492 first time visitors.

eGroups

Teaching on the Christian faith is also done midweek through eGroups. These are small groups of around 8-15 people who gather in homes across Surrey and West London which are open to all. eGroups have a more interactive format where people can discuss issues, ask questions, share challenges and pray with each other. Groups are also encouraged to support one another and journey together and support one another through the events of life; be that times of celebration or of difficulty. During 2024, we had 38 different eGroups in operation.

EQUIPPERS CHURCH

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Conferences

In July 2024 we ran our third ‘Shout Conference’. This is a three-day event hosted by Equippers Church primarily for people from all the Equippers churches around Europe and beyond to gather together. In total, 1,112 people attended the conference with groups from 18 different nations in attendance.

Our annual women’s conference, ‘For Her’, outgrew its usual venue and in March 2024 was held at a new location in Guildford. 235 tickets were sold for the event, for females ranging from age 11 to 70+.

2024 saw the launch of a new 3 night residential camp for youth and young adults aged 11 to 25. The event was a huge success, seeing around 150 young people come together to encounter God, build friendships and have a lot of fun.

Education

In September 2024 we welcomed the third intake of students for Equippers College UK and launched a 2nd programme, ‘Worship Stream’ to run alongside the existing ‘Leadership Stream’. Worship Stream is designed to train people in the creative arts and 5 out of the 18 students studying on the Level 3 Programme (Certificate in Christian Ministry) choose this option. We also had 3 students staying on to complete the ‘second year’ programme, studying for a Level 4 Diploma in Christian Studies.

To accommodate the increase to 21 students in total, and the requirement for additional teaching spaces we renovated a 200 year old Grade II* listed chapel on the grounds of our College campus. This beautiful venue will be primarily used for morning devotions and creative lessons and it’s been a privilege to restore a building with such a rich heritage.

Our Volunteers

Our amazing volunteers help to make our Sunday services, events and midweek gatherings happen. There were 502 people who volunteered in some capacity during 2024, most of whom serve in on a regular basis, and we are so thankful for them!

(ii) Community and Financial Support

We continue to support many local, national and international organisations as a church. A fund to support church members, and connected community members, who are struggling financially continues to provide much needed assistance mainly in the form of cash grants or supermarket gift cards. We gave grants of varying amounts, totalling £5,745 to individuals in 2024.

As well as supporting many great organisations around the world we took up two special offerings in 2024. £2,457 was received for Dr Leif Hetland who ministers globally, including into some of the most hard to reach places, bringing an impartation of God’s love, healing, and apostolic authority. The other was £2,275 to support the work of Ps Sergiy Lysak and ‘Fathers House’ in Ukraine, an organisation providing temporary houses to people who have lost their homes due to the war in Ukraine.

Each year we take up an annual “Impact Offering”. This is a pledged offering, across 12 months, with the funds used to support initiatives beyond our regular operating costs within Equippers Church, both within the wider community and internationally. In 2024 we received donations of £387,698 towards Impact Offering, and were pleased to be able to make donations of £68,600 with £53,237 of this coming from Impact funds. Funds from Impact offering will also be used towards the purchase of Weybridge Hall and this was a focus for the 2024 offering, which saw over £600K pledged to be given over the period November 2024 to October 2025.

Financial review

During this financial year, the charity made a net surplus on unrestricted funds of of £252,325 (2023: surplus of £42,065). Overall the Trustees are pleased with the results for 2024 and note the charity is in a healthy financial position.

In accordance with best practice, a designated reserve has been set aside at a level equating to three months’ essential core operating costs. This currently equates to £196,630 (2023: £109,000). Unrestricted funds were well in excess of this level at 31 December 2024 amounting to £1,445,939 (2023: £792,300).

EQUIPPERS CHURCH

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Risk management

The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

Risks are examined and considered under the following headings:

Governance Operational Finance Compliance External

This allows the Trustees and management to adapt policies and actions appropriately.

Plans for future periods

One of the main focuses for 2025 is the purchase of a fantastic building situated in the heart of Weybridge which allows space to grow our Sunday services, as well as offer both community and church focused mid week events and activities. This exciting project will see a dilapidated Hall and meeting rooms, which have been out of use for 10 years, restored to offer a 400 seat auditorium plus space for hospitality and 100+ kids through a variety of multifunctional spaces. Our West London campus will also be moving to a new location on Twickenham High Street in January 2025, holding their Sunday services in the 320 seat theatre of this community building. For both locations, we know being so centrally located to both the high street and public transport will enable the church to have a wider reach and greater impact on the local community.

Equippers Church is also planting a new church location out of the Weybridge and West London campuses, into the heart of Birmingham. Several families have already relocated to Birmingham at the end of 2024 and have begun informal gatherings in their homes.

Structure, governance and management

Equippers Church (changed name on 17 November 2016, formerly Jubilee Life Ministries UK) is governed by its Memorandum and Articles of Association amended 11 October 2016. The charity is a company limited by guarantee, as defined by the Companies Act 2006.

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 financial statements were:

Mr M Collard Mrs L G S Dua Mr J Everitt Mrs I Jack Mr P A Prothero Mr T Runkel Mr T Yates Mr B Anthony Mr S Monk Mr S Malcolm

(Resigned 31 December 2024)

(Resigned 31 December 2024) (Resigned 4 August 2024) (Resigned 29 October 2024) (Appointed 29 January 2025) (Appointed 29 January 2025) (Appointed 15 May 2025)

EQUIPPERS CHURCH

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

The existing Trustees may identify the need for additional Trustees to be appointed as the demands of the charity continue to develop, and as and when existing Trustees stand down from office. The Trustees will identify a suitable candidate to act as a Trustee, based on a series of factors including their character, experience, specialist skills and chemistry with the existing Trustees.

Subsequently the candidate will be approached by one of the current Trustees to establish their willingness to consider the role. They may be invited to sit in on meetings as an observer until they reach a decision. If they accept they will be formally appointed to the board at the next meeting.

The Chairman of the board of Trustees will ensure that they are given any necessary induction and training for the role. This will depend on their previous experience in similar roles. The new Trustee will be given tasks suitable to their experience level.

Day-to-day management is delegated by the Trustees to the management team, led by the Senior Pastor.

Auditor

In accordance with the company's articles, a resolution proposing that Caladine Limited be reappointed as auditor of the company will be put at a General Meeting.

Disclosure of information to auditor

Each of the Trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The Trustees' report was approved by the Board of Trustees.

Mr M Collard Trustee

31 July 2025

EQUIPPERS CHURCH

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 DECEMBER 2024

The Trustees, who are also the directors of Equippers Church for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

EQUIPPERS CHURCH

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF EQUIPPERS CHURCH

Opinion

We have audited the financial statements of Equippers Church (the ‘charity’) for the year ended 31 December 2024 which comprise the statement of financial activities, the statement of financial position, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and the provisions available for small entities, in the circumstances set out in note 29 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

EQUIPPERS CHURCH

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF EQUIPPERS CHURCH

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the Trustees' report.

Responsibilities of Trustees

As explained more fully in the statement of Trustees' responsibilities, the Trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

The extent to which the audit was considered capable of detecting irregularities including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

EQUIPPERS CHURCH

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF EQUIPPERS CHURCH

We assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

Audit response to risks identified

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the Trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Mr Colin James Dadswell FCCA (Senior Statutory Auditor) for and on behalf of Caladine Limited

4 August 2025

Chartered Certified Accountants Statutory Auditor

Chantry House 22 Upperton Road Eastbourne East Sussex BN21 1BF

EQUIPPERS CHURCH

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income and endowments from:
Donations and legacies
4
1,416,532
18,950
Charitable activities
6
174,201
-
Investments
5
8,341
-
Other income
7
1,120
-
Total income
1,600,194
18,950
Expenditure on:
Raising funds
8
-
-
Charitable activities
9
1,347,869
9,356
Total expenditure
1,347,869
9,356
Net income and movement in
funds
252,325
9,594
Reconciliation of funds:
Fund balances at 1 January
2024
1,219,055
12,500
Fund balances at 31
December 2024
1,471,380
22,094		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
1,435,482
1,202,079
54,854
174,201
161,705
-
8,341
18,504
-
1,120
-
-
1,619,144
1,382,288
54,854
-
11,150
-
1,357,225
1,329,073
42,354
1,357,225
1,340,223
42,354
261,919
42,065
12,500
1,231,555
1,176,990
-
1,493,474
1,219,055
12,500		 Total
2023
£
1,256,933
161,705
18,504
-
1,437,142
11,150
1,371,427
1,382,577
54,565
1,176,990
1,231,555

The major income and expenditure of the Church derive from continuing activities.

EQUIPPERS CHURCH

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

2024 2023
Notes £ £ £ £
Fixed assets
Property, plant and equipment 15 25,441 16,755
Investment property - 410,000
25,441 426,755
Current assets
Trade and other receivables 16 263,462 96,285
Cash at bank and in hand 1,355,174 1,036,007
1,618,636 1,132,292
Current liabilities 18 (150,603) (327,492)
Net current assets 1,468,033 804,800
Total assets less current liabilities 1,493,474 1,231,555
The funds of the charity
Restricted income funds 21 22,094 12,500
Unrestricted funds 22 1,471,380 1,219,055
1,493,474
~~-~~		 1,231,555
~~-~~

The financial statements were approved by the Trustees on 31 July 2025

Mr M Collard Trustee

Company registration number 04395378 (England and Wales)

EQUIPPERS CHURCH

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024

Notes
Cash flows from operating activities
Cash generated from operations
27
Investing activities
Purchase of property, plant and equipment
Proceeds from disposal of property, plant
and equipment
Proceeds from disposal of investment
property
Investment income received
Net cash generated from investing activities
Financing activities
Repayment of bank loans
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2024
£
£
141,928
(23,550)
1,799
410,000
8,341
396,590
(219,351)
(219,351)
319,167
1,036,007
1,355,174		 2023
£
£
85,287
(9,460)
-
-
18,504
9,044
(5,832)
(5,832)
88,499
947,508
1,036,007

EQUIPPERS CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

Company information

Equippers Church is a charitable company limited by guarantee incorporated in England and Wales. The registered office is Suite 4, 45-47 Monument Hill, Weybridge, Surrey, KT13 8RN.

1.1 Accounting convention

The accounts have been prepared in accordance with the charity's Memorandum and Articles of Association, 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 (FRS 102)” (as amended for accounting periods commencing from 1 January 2019). 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 £.

The financial statements have been prepared under the historical cost convention modified to include the revaluation of mixed motive investments. The principal accounting policies adopted are set out below.

1.2 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.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total 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 which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

EQUIPPERS CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies (Continued)

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

1.6 Property, plant and equipment

Property, fixtures and equipment 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 basis:

Production equipment, fixtures and fittings 25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Investment property

Mixed motive investments represents a property, held for a combination of the financial return it generates and the contribution its use by another charity makes to Equippers Church's charitable purposes. The property was initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the Statement of Financial Activities.

1.8 Impairment of non-current assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

EQUIPPERS CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies (Continued)

Basic financial liabilities

Basic financial liabilities, including trade and other payables and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Taxation

In the opinion of the Trustees the charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

EQUIPPERS CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

4 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Donations and gifts
1,416,532
18,950
Donations and gifts
Regular donations
778,925
-
Impact
387,698
-
Special offerings
38,369
17,765
Gift aid
211,540
1,185
1,416,532
18,950		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
1,435,482
1,202,079
54,854
778,925
727,851
-
387,698
262,941
13,227
56,134
38,065
36,449
212,725
173,222
5,178
1,435,482
1,202,079
54,854		 Total
2023
£
1,256,933
727,851
276,168
74,514
178,400
1,256,933

5 Income from investments

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Rental income - 12,767
Interest receivable 8,341 5,737
8,341 18,504

6 Income from charitable activities

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Church activities
Events and courses 110,187 112,157
Equippers college 45,317 32,200
Other income 18,697 17,348
174,201 161,705

EQUIPPERS CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

7 Other income

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Net gain on disposal of tangible fixed assets 1,120 -
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Fundraising and publicity
Staging fundraising events - 11,150

EQUIPPERS CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

9 Expenditure on charitable activities

Direct costs
Staff costs
Depreciation and impairment
Church and ministry expenses
Events and conferences
Education and training
Motor expenses
Travel and subsistence
Organisation subscriptions
Pastoral accomodation
Rent, rates and equipment
Equippers college
Contractors
Sunday venue costs
Sunday speakers
Guest speakers gifts and expenses
Church hospitality
Grant funding of activities (see note 10)
Share of support and governance costs (see note 11)
Support
Governance
Analysis by fund
Unrestricted funds
Restricted funds		 Church
activities
2024
£
290,692
14,185
117,749
198,958
42,914
27,439
28,178
9,459
21,000
36,392
47,782
46,312
106,196
24,440
18,830
20,833
1,051,359
68,600
216,536
20,730
1,357,225
1,347,869
9,356
1,357,225		 Church
activities
2023
£
238,458
43,519
87,917
157,246
73,765
22,951
39,809
9,657
26,300
22,035
23,812
38,121
102,462
17,950
22,255
18,882
945,139
185,612
195,882
44,794
1,371,427
1,329,073
42,354
1,371,427

EQUIPPERS CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

10 Grants payable

11 Church
activities
2024
£
Grants to institutions:
Actions on Ponodoniosis Association
-
Riverbank Trust
5,000
Equippers Budapest
-
Equippers Ghana
3,000
Equippers Central Coast (USA)
8,043
Equippers Network International
5,400
Equippers - other congregations and events
7,000
International Justice Mission
10,000
East to West
4,000
Iranian Refugees
-
Turkey and Syria Earthquake relief
-
Ukraine
4,400
Other smaller grants and gifts
21,757
General
-
68,600
Support costs allocated to activities
2024
£
Staff costs
145,797
Facilities running costs
19,953
Bible college refurbishment
6,268
Storage
3,215
Insurance
10,486
Telephone and internet
5,217
Software and stationery
6,449
Bank charges and interest
15,656
Sundry
3,495
Governance costs
20,730
237,266
Analysed between:
Church activities
237,266		 Church
activities
2023
£
25,000
-
10,000
20,926
-
5,400
25,000
-
-
10,723
17,058
19,573
32,203
19,729
185,612
2023
£
132,300
23,369
8,913
2,232
8,741
6,604
8,941
3,222
1,560
44,794
240,676
240,676

EQUIPPERS CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

11 Support costs allocated to activities (Continued)

Governance costs comprise:
Audit fees
Accountancy
Legal and professional
Mortgage interest
Payroll fees
12
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable to the charity's auditor:
- for the audit of the charity's financial statements
- for tax advisory services
- for other financial services
Depreciation of owned property, plant and equipment
Profit on disposal of property, plant and equipment		 2024
£
7,020
2,820
9,669
-
1,221
20,730
2024
£
7,020
1,260
2,820
14,185
(1,120)		 2023
£
6,000
2,640
12,872
22,968
314
44,794
2023
£
6,000
-
2,640
43,519
-

13 Employees

The average monthly number of employees during the year was:

Pastoral
Support
Total
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2024
Number
7
7
14
2024
£
377,097
28,392
31,000
436,489		 2023
Number
8
6
14
2023
£
320,114
22,752
27,892
370,758

EQUIPPERS CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

13 Employees (Continued)

The number of employees whose annual remuneration was more than £60,000
is as follows:
£80,001- £90,000
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
Aggregate compensation		 2024
Number
1
2024
£
196,883		 2023
Number
1
2023
£
189,011

EQUIPPERS CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

14 Trustees

Trustee Mr M Collard is also employed by the Charity and received gross pay of £87,102 (2023: £85,753) which included manse rental costs of £21,000 (2023: £21,000), sabbatical allowance of £10,648 (2023: £2,000) and car allowance of £nil (2023: £800). He also received employers pension contributions of £6,968 (2023: £6,700) and gifts worth £65 (2023: £nil) during the year.

The Church have also paid a sum of £35,000 and entered into an Option Agreement dated 13 November 2024 with Mr M Collard to secure an option to acquire up to 28% of the land and property at 43 Ada Gardens, Ockham Road North, East Horsley, Leatherhead, KT24 6PU, after a 7 year period. This can be repaid by Mr M Collard within the 7 years, or converted into a loan at a market interest rate. The purpose of the Option Agreement is to enable Mr M Collard to build and acquire suitable housing for him to carry out his duties as Senior Pastor of the Church.

Mr T Yates, who was a Trustee until 29 October 2024, is employed by the Charity and was paid a salary of £34,675 (2023: £32,887), received employers pension contributions of £2,774 (2023: £2,631) and gifts worth £399 (£nil) during the year.

Mr P Prothero, who was a Trustee until 31 December 2024, was paid £15,000 (2023: £15,000) for the provision of consultancy services through P3 Consultants, and had travel and training expenses of £3,057 paid for by the Charity (2023: £4,399) and gifts worth £275 upon retirement.

Mrs L Dua, who was a Trustee until 31 December 2024, received gifts and speaking fees in the year worth a total of £454 (2023: £nil). She also had travel and training expenses of £690 paid for by the Charity (2023: £nil).

Trustee Mrs I Jack received gifts in the year worth a total of £210 (2023: £nil).

Trustee Mr J Everitt received gifts in the year worth a total of £75 (2023: £nil).

The legal authority for these payments is found in a provision in the Memorandum and Articles of Association of the Charity.

No other Trustees received any remuneration or benefits from the Charity during the year (2023: none).

The total amount of donations received without restrictions from the Trustees and their related parties amounted to £111,391 (2023: £118,792).

EQUIPPERS CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

15 Property, plant and equipment

Cost
At 1 January 2024
Additions
Disposals
At 31 December 2024
Depreciation and impairment
At 1 January 2024
Depreciation charged in the year
Eliminated in respect of disposals
At 31 December 2024
Carrying amount
At 31 December 2024
At 31 December 2023
16
Trade and other receivables
Amounts falling due within one year:
Trade receivables
Other receivables
Prepayments and accrued income
Amounts falling due after more than one year:
Other receivables
Total debtors		 Production
equipment,
fixtures and
fittings
£
436,638
23,550
(5,442)
454,746
419,883
14,185
(4,763)
429,305
25,441
16,755
2024
2023
£
£
12,738
8,173
16,361
22,509
199,363
65,603
228,462
96,285
2024
2023
£
£
35,000
-
263,462
96,285

Other receivables due after more than one year represents the Option Agreement detailed within note 14 of the financial statements.

EQUIPPERS CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

17 Borrowings

Borrowings
Bank loans
Payable within one year		 2024
£
-
-		 2023
£
219,351
219,351

The Barclays plc bank loan of £273,000 commenced 19 May 2017 and is repayable over 20 years. Interest is charged at a variable rate of 3.15% above the Bank of England base rate. The loan is secured by legal charge dated 19 May 2017 over The Warehouse, Rogerstone, Newport, NP10 9FQ. The bank loan was repaid in full in January 2024.

18 Current liabilities

Notes
Bank loans
17
Other taxation and social security
Deferred income
19
Trade payables
Accruals		 2024
£
-
1,707
63,280
64,378
21,238
150,603		 2023
£
219,351
6,194
18,067
59,052
24,828
327,492

19 Deferred income

Deferred income
2024 2023
£ £
Other deferred income 63,280 18,067

Deferred income represents fees paid in advance for the Equippers College 2024/25 academic year.

Deferred income is included within:
Current liabilities
Movements in the year:
Deferred income at 1 January 2024
Released from previous periods
Resources deferred in the year
Deferred income at 31 December 2024		 2024
£
63,280
18,067
(18,067)
63,280
63,280		 2023
£
18,067
6,855
(6,855
18,067
18,067

EQUIPPERS CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

20 Retirement benefit schemes
2024 2023
Defined contribution schemes £ £
Charge to profit or loss in respect of defined contribution schemes 31,000 27,892

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

EQUIPPERS CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

21 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 January Incoming Resources At 31
2024 resources expended December
2024
£ £ £ £
Other Specific gifts - 6,550 (6,550) -
Ukraine - 2,400 (2,400) -
Equippers Birmingham - 10,000 (406) 9,594
Building 12,500 - - 12,500
12,500 18,950 (9,356) 22,094
Previous year: At 1 January Incoming Resources At 31
2023 resources expended December
2023
£ £ £ £
Other Specific gifts - 11,343 (11,343) -
Ukraine - 23,578 (23,578) -
Building - 12,500 - 12,500
Turkey & Syria Earthquake appeal - 7,433 (7,433) -
- 54,854 (42,354) 12,500

Other Specific gifts

From time to time donors will make a donation for a specific purpose, normally in support of a visiting speaker. These amounts are passed onto that speaker or are used for the purpose identified by the donor.

Ukraine

Donations for organisations working in Ukraine in response to the war which started in 2022.

Building

Restricted gifts for the purchase of a Church property,

Turkey-Syria Earthquake Appeal

Funds raised for the DEC (Disasters Emergency Committee) Turkey-Syria Earthquake Appeal, in response to the devastation caused by the earthquake on 6 February 2023.

Equippers Birmingham

Donations to be used to help set up a new Equippers church in Birmingham.

EQUIPPERS CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

22 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At
Reserve fund
Richmond Property Reserve
Future Building fund
General funds
Previous year:
At
Reserve fund
Richmond Property Reserve
Future Building fund
General funds		 1 January
2024
Incoming
resources
Resources
expended
£
£
£
109,000
-
-
55,000
-
-
250,000
-
-
805,055
1,600,194
(1,347,869)
1,219,055
1,600,194
(1,347,869)
1 January
2023
Incoming
resources
Resources
expended
£
£
£
109,000
-
-
55,000
-
-
250,000
-
-
762,990
1,382,288
(1,340,223)
1,176,990
1,382,288
(1,340,223)		 Transfers
At 31
December
2024
£
£
87,630
196,630
-
55,000
-
250,000
(87,630)
969,750
-
1,471,380
Transfers
At 31
December
2023
£
£
-
109,000
-
55,000
-
250,000
-
805,055
-
1,219,055

Reserve fund

In accordance with the charity's reserves policy, funds equating to 3 months' essential spending commitments should be maintained. As at the balance sheet date this equates to £196,630.

Richmond Property Reserve

This fund contains money received on the merger with Equipper's London, towards the future purchase of a building.

Future building fund

The Future Building Fund was established during 2021, when £250,000 of that years Impact Offering was set aside for future property needs.

EQUIPPERS CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

23 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2024
2024
£
£
At 31 December 2024:
Property, plant and equipment
25,441
-
Current assets/(liabilities)
1,445,939
22,094
1,471,380
22,094
Unrestricted
Restricted
funds
funds
2023
2023
£
£
At 31 December 2023:
Property, plant and equipment
16,755
-
Investment properties
410,000
-
Current assets/(liabilities)
792,300
12,500
1,219,055
12,500		 Total
2024
£
25,441
1,468,033
1,493,474
Total
2023
£
16,755
410,000
804,800
1,231,555

24 Operating lease commitments

Lessee

A lease was taken out for office premises from June 2020 at The Monument Weybridge for a term of 14 months at £15,000 per annum expiring July 2021. This has continued on a rolling 1 month lease since that date

The tenancy on the single Church manse is also on 1 month notice.

A property lease was taken out for the use of Equippers College from September 2024 for a term of four years at £30,000 per annum. Rental costs can be reduced by a maximum of £120,000 dependent upon the monies spent on Refurbishment of the property. At 31 December 2024, over £120,000 had been expended on this and therefore no further rent is due.

At the reporting end date the charity had further outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2024 2023
£ £
Within one year - 12,000

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

EQUIPPERS CHURCH

25 Events after the reporting date

On the 14 May 2025 the Church acquired 34 and 36 Church Street, Weybridge, Surrey for a consideration of £1,232,563 including all fees.

26 Related party transactions

Mrs M Collard, spouse of Trustee Mr M Collard, received gross remuneration of £47,325 (2023: £43,639), which included a car allowance of £6,857 (2023: £4,686) and sabbatical allowance of £1,666 (2023: £2,000). The Charity also made employers pension contributions of £3,104 (2023: £3,331).

Mrs S Drummond, sister-in-law of Mr M Collard received a gross salary of £8,470 (2023: £32,004) and employers pension contributions of £721 (2023: £2,560), and received payment for services while selfemployed of £3,338.

Mr M Collard is a trustee of other Equippers charities which received grants in the year. Equippers Ghana received £3,000 (2023: £20,926) and Equippers Swindon received £3,000 (2023: £nil) of grant funding from the Charity during the year.

27
Cash generated from operations
Surplus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Gain on disposal of property, plant and equipment
Depreciation and impairment of property, plant and equipment
Movements in working capital:
(Increase) in trade and other receivables
(Decrease)/increase in trade and other payables
Increase in deferred income
Cash generated from operations
28
Analysis of changes in net funds
At 1 January
2024
£
Cash at bank and in hand
1,036,007
Loans falling due within one year
(219,351)
816,656		 2024
2023
£
£
261,919
54,565
(8,341)
(18,504)
(1,120)
-
14,185
43,519
(167,177)
(14,335)
(2,751)
8,830
45,213
11,212
141,928
85,287
Cash flows At 31 December
2024
£
£
319,167
1,355,174
219,351
-
538,518
1,355,174

EQUIPPERS CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

29 Non-audit services provided by auditor

In common with many businesses of our size and nature we use our auditor to assist with the preparation of the financial statements and VAT returns.