**Charity registration number 1093931**
**Company registration number 4490276 (England and Wales)**
## **KINMEL BAY CHURCH**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **KINMEL BAY CHURCH**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Mr W C Hammons||
|---|---|---|
||Mrs K H Fernandes||
||Mrs A J Hughes||
||Mr G D Hulson||
||Mr P D Shepherd||
||Mr S F Moore|(Appointed 3 July 2024)|
||Ms J S Casson|(Appointed 1 March 2025)|
|**Secretary**|Mrs K H Fernandes||
|**Charity number**|1093931||
|**Company number**|4490276||
|**Principal address**|Kinmel Bay Church||
||83 St Asaph Avenue||
||Kinmel Bay||
||LL18 5EY||
|**Registered office**|Kinmel Bay Church||
||83 St Asaph Avenue||
||Kinmel Bay||
||LL18 5EY||
|**Independent examiner**|Christopher Henderson BSc BFP FCA||
||Harold Smith Chartered Accountants||
||Unit 32, Llys Edmund Prys||
||St Asaph Business Park||
||St Asaph||
||Denbighshire||
||LL17 0JA||
|**Bankers**|Lloyds Bank plc||
||22 Mostyn Street||
||Llandudno||
||Conwy||
||LL30 2RU||
## **KINMEL BAY CHURCH**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 3|
|Independent examiner's report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the financial statements|7 - 17|
## **KINMEL BAY 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 [governing document], 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 charity's objective continues to be the advancement of the Christian faith and the relief of need and distress in Kinmel Bay and elsewhere.
## _Strategies for achieving aims and objectives_
The trustees ensured that the church continued to benefit the community holistically by providing spiritual, social and practical help and advice. Regular opportunities are provided for all ages to explore the Christian faith in both formal and informal non-confrontational ways.
## _Public benefit_
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
The church continues to provide:
- Practical support was provided by a regular Food Bank operated twice weekly. The need for this service continues to grow and is a vital resource for the surrounding community.
- Sunday services continue to be recorded and are put online for people who are unable to attend in person to view.
- Pastoral visits/ hospital visits are undertaken as and when needed.
- Toddler and Youth activities continue to thrive.
- Weddings and funerals continue to take place.
- Fun days at church for the local community have been very successful.
- The local school has held services, inviting friends, family and dignitaries.
- A Clothes Share takes place once a month where people can take or donate clothes free of charge.
- The café reopened in January 2024.
- A mission trip took place to Moldova where two from our fellowship visited the local partner church.
## **Achievements and performance**
## _Significant activities and achievements against objectives_
## **Church business**
The trustees continued to review all aspects of the church's management.
The church continues to be encouraged by growth, pastoral care and leadership development under Pastor Gordon.
The Children & Families Worker (full-time), Administrator (16 hours) and a Pastoral Worker (13 hours) continued to fulfil their roles satisfactorily. All children, youth and family camps are well attended not only by church members but by families in the community.
In addition to financial support of UK and overseas missions. The church again organised a visit to a Christian social enterprise charity near Leeds (Caring for Life).
- 1 -
## **KINMEL BAY CHURCH**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **Financial review**
The trustees are pleased to report that the performance of the charity this year has been most satisfactory. The church was able to continue to fund all four members of staff.
The ministry teams of the Charity were able to adhere to their budgets from the General Fund, set after a comprehensive review at a total of £149,900
The church has made charitable donations to a variety of needy causes throughout 2024 amounting to 26% of total church income (excluding Building Fund Income).
## _Major risks_
The trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining reserves at current levels combined with an annual review of the controls over financial systems will provide sufficient resources in the event of adverse conditions.
## **Plans for future periods**
The main development in 2025 is anticipated to be the continued growth and outreach to the community under the direction of the Pastor.
To look into extending the current church building to accommodate the growing need of the church.
The appointment of an assistant pastor.
A mission trip is being planned to Albania in the spring of 2025 to visit both a church with which the Pastor is connected and a children's' home.
## **Structure, governance and management**
The charity is a company limited by guarantee and is therefore governed by a memorandum and articles of association.
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:
Mrs J A Foden (Resigned 1 March 2025) Mr W C Hammons Mrs M C Bradshaw (Resigned 1 June 2024) Mrs K H Fernandes Mrs A J Hughes Mr G D Hulson Mr P D Shepherd Mr S F Moore (Appointed 3 July 2024) Ms J S Casson (Appointed 1 March 2025)
## _Recruitment and appointment of trustees_
## _Qualifying third party indemnity provisions_
None of the trustees have any beneficial interest in the company.
## _Organisational structure_
The charity is organised so that the trustees meet regularly to manage its affairs. The trustees and members of the charity donate their time and efforts voluntarily.
- 2 -
## **KINMEL BAY CHURCH**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
The trustees' report was approved by the Board of Trustees.
Ms J S Casson **Trustee**
22 September 2025
- 3 -
## **KINMEL BAY CHURCH**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF KINMEL BAY CHURCH**
I report to the trustees on my examination of the financial statements of Kinmel Bay Church (the charity) for the year ended 31 December 2024.
## **Responsibilities and basis of report**
As the trustees of the charity (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 financial statements of the charity 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 financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable 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 that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
- 2 the financial statements do not accord with those records; or
- 3 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
- 4 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 financial statements to be reached.
## **Christopher Henderson BSc BFP FCA**
Harold Smith Chartered Accountants Unit 32, Llys Edmund Prys St Asaph Business Park St Asaph Denbighshire LL17 0JA
Dated: 23 September 2025
- 4 -
## **KINMEL BAY CHURCH**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
|**Unrestricted**
**Restricted**
**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**funds**
**funds**
**2024**
**2024**
**2024**
**2023**
**2023**
**Notes**
**£**
**£**
**£**
**£**
**£**
**Income from:**
Donations and legacies
**3**
147,137
35,898
183,035
143,628
24,600
Investments
**4**
7,507
-
7,507
6,479
-
**Total income**
154,644
35,898
190,542
150,107
24,600
**Expenditure on:**
Charitable activities
**5**
23,849
33,671
57,520
30,380
25,725
Other expenditure
**9**
111,787
-
111,787
109,420
-
**Total expenditure**
135,636
33,671
169,307
139,800
25,725
Net gains/(losses) on
investments
**10**
95,000
-
95,000
-
-
**Net income**
114,008
2,227
116,235
10,307
(1,125)
**Other recognised**
**gains and losses:**
Revaluation of tangible
fixed assets
-
(140,434)
(140,434)
-
-
**Net movement in**
**funds**
**6**
114,008
(138,207)
(24,199)
10,307
(1,125)
**Reconciliation of funds:**
Fund balances at 1 January
2024
316,011
592,900
908,911
305,704
594,025
**Fund balances at 31**
**December 2024**
430,019
454,693
884,712
316,011
592,900|**Total**
**2023**
**£**
168,228
6,479|
|---|---|
||174,707|
||56,105
109,420|
||165,525|
||-|
||9,182
-|
||9,182
899,729|
||908,911|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 5 -
## **KINMEL BAY CHURCH**
## **BALANCE SHEET**
## _**AS AT 31 DECEMBER 2024**_
|**Notes**
**Fixed assets**
Tangible assets
**13**
Investment property
**14**
**Current assets**
Debtors
**15**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**16**
**Net current assets**
**Total assets less current liabilities**
**The funds of the charity**
Restricted income funds
**18**
Unrestricted funds
**19**|**2024**
**£**
9,447
189,872
199,319
(4,607)|**£**
445,000
245,000
690,000
194,712
884,712
454,693
430,019
884,712|**2023**
**£**
7,382
169,237
176,619
(3,142)|**£**
585,434
150,000|
|---|---|---|---|---|
|||||735,434
173,477|
|||||908,911|
|||||592,900
316,011|
|||||908,911|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2024.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the trustees on 22 September 2025
Ms J S Casson
## **Trustee**
Company registration number 4490276 (England and Wales)
- 6 -
## **KINMEL BAY CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **1 Accounting policies**
## **Charity information**
Kinmel Bay Church is a private company limited by guarantee incorporated in England and Wales. The registered office is Kinmel Bay Church, 83 St Asaph Avenue, Kinmel Bay, LL18 5EY.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
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 freehold properties and to include investment properties and certain financial instruments at fair value. 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.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## **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.
- 7 -
## **KINMEL BAY CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **1 Accounting policies**
**(Continued)**
## **1.5 Expenditure**
Resources expended are included in the Statement of Financial Activities on an accrual basis, inclusive of any VAT which cannot be recovered. Expenditure which is directly attributable to specific activities has been included in these cost categories. Where costs are attributable to more than one activity they have been apportioned across the cost categories on a basis consistent with the use of these resources.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings Nil Furniture and equipment 25% straight line basis
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**
Investment property, which is property held to earn rentals and/or for capital appreciation, is 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 profit or loss.
## **1.8 Impairment of fixed 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’ and Section 12 ‘Other Financial Instruments Issues’ 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 debtors 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.
- 8 -
## **KINMEL BAY 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 creditors 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 creditors 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 creditors 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.
## **1.13 Fund raising costs**
Fund raising expenditure comprises costs incurred in inducing people and organisations to contribute financially to the charity's work. Theses include the cost of advertising for donations and the staging of special fund raising events.
## **1.14 Expenditure on management and administration of the charity**
Administration expenditure includes all expenditure not directly related to the charitable activity or fund raising ventures. This includes costs and maintenance of the charity's properties together with office and other administrative expenditure.
## **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.
- 9 -
## **KINMEL BAY CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **3 Income from donations and legacies**
||**Unrestricted**|**Restricted**|**Total**|**Unrestricted**|**Restricted**|**Total**|
|---|---|---|---|---|---|---|
||**funds**|**funds**||**funds**|**funds**||
||**2024**|**2024**|**2024**|**2023**|**2023**|**2023**|
||**£**|**£**|**£**|**£**|**£**|**£**|
|Donations and gifts|147,137|35,898|183,035|143,628|24,600|168,228|
## **4 Income from investments**
|||**Unrestricted**|**Unrestricted**|
|---|---|---|---|
|||**funds**|**funds**|
|||**2024**|**2023**|
|||**£**|**£**|
||Rental income|5,760|5,490|
||Interest receivable|1,747|989|
|||7,507|6,479|
|**5**|**Expenditure on charitable activities**|||
|||**Church**|**Church**|
|||**activities**|**activities**|
|||**2024**|**2023**|
|||**£**|**£**|
||**Direct costs**|||
||Charitable Activities|57,520|56,105|
||**Analysis by fund**|||
||Unrestricted funds|23,849|30,380|
||Restricted funds|33,671|25,725|
|||57,520|56,105|
|**6**|**Net movement in funds**|**2024**|**2023**|
|||**£**|**£**|
||The net movement in funds is stated after charging/(crediting):|||
||Impairment of owned tangible fixed assets|140,434|-|
## **7 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
- 10 -
## **KINMEL BAY CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **8 Employees**
The average monthly number of employees during the year was:
|**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2024**
**Number**
4
**2024**
**£**
83,248
1,146
1,486
85,880|**2023**
**Number**
4|
|---|---|---|
|||**2023**
**£**
86,089
1,812
1,565|
|||89,466|
There were no employees whose annual remuneration was more than £60,000.
## **9 Other**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2024**|2023|
|Salaries|85,880|89,466|
|Maintenance and upkeep of assets|18,257|11,735|
|Office expenditure|2,335|4,142|
|Financing costs|4,065|2,990|
|Other expenditure|1,250|1,087|
||111,787|109,420|
## **10 Gains and losses on investments**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2024**|**2023**|
|Gains/(losses) arising on:|**£**|**£**|
|Revaluation of investments|95,000|-|
## **11 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
- 11 -
## **KINMEL BAY CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **12 Impairments**
Impairment tests have been carried out where appropriate and the following impairment losses have been recognised in profit or loss:
|**2024**
**£**
In respect of:
Property, plant and equipment
140,434
**13**
**Tangible fixed assets**
**Freehold land**
**and buildings**
**Furniture and**
**equipment**
**£**
**£**
**Cost**
At 1 January 2024
585,434
9,716
At 31 December 2024
585,434
9,716
**Depreciation and impairment**
At 1 January 2024
-
9,716
Impairment losses
140,434
-
At 31 December 2024
140,434
9,716
**Carrying amount**
At 31 December 2024
445,000
-
At 31 December 2023
585,434
-|**2023**
**£**
-|
|---|---|
||**Total**
**£**
595,150|
||595,150|
||9,716
140,434|
||150,150|
||445,000|
||585,434|
More information on the impairment arising in the year is given in note 12.
## **14 Investment property**
|**Fair value**
At 1 January 2024
Net gains or losses through fair value adjustments
At 31 December 2024|**2024**
**£**
150,000
95,000|
|---|---|
||245,000|
Investment property comprises a residential property used as a residential property.
- 12 -
## **KINMEL BAY CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
|**15**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Other debtors
Prepayments and accrued income|**2024**
**£**
500
8,697
250
9,447|**2023**
**£**
-
7,382
-|
|---|---|---|
|||7,382|
## **16 Creditors: amounts falling due within one year**
|Other taxation and social security
Trade creditors
Accruals and deferred income
**17**
**Retirement benefit schemes**
**Defined contribution schemes**
Charge to profit or loss in respect of defined contribution schemes|**2024**
**£**
747
2,250
1,610
4,607
**2024**
**£**
1,486|**2023**
**£**
817
715
1,610|
|---|---|---|
|||3,142|
|||**2023**
**£**
1,565|
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.
## **18 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**
Mission fund reserve
Church building reserve
Revaluation reserve|**January**
**2024**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**December**
**2024**
**£**
**£**
**£**
**£**
-
-
140,434
140,434
6,966
35,148
(33,671)
8,443
585,934
750
(140,434)
446,250
592,900
35,898
(33,671)
595,127
-
-
-
(140,434|
|---|---|
- 13 -
## **KINMEL BAY CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
|**18**
**Restricted funds**
**Previous year:**
**At 1**
Mission fund reserve
Church building reserve|**(Continued)**
**January**
**2023**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**December**
**2023**
**£**
**£**
**£**
**£**
8,091
24,600
(25,725)
6,966
585,934
-
-
585,934
594,025
24,600
25,725
592,900|
|---|---|
## **19 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 1**
Revaluation
reserve
Contingency
reserve
Capital assets
reserve -
general
Capital assets
reserve -
kitchen
Transport
reserve
Staff salaries
reserve
General funds|**January**
**2024**
**Incoming**
**resources**
**Resources**
**expended**
**Transfers**
**Gains and**
**losses**
**At 31**
**December**
**2024**
**£**
**£**
**£**
**£**
**£**
**£**
150,000
-
-
-
95,000
245,000
30,000
-
-
-
-
30,000
5,000
-
-
-
-
5,000
3,000
-
-
-
-
3,000
14,137
-
(1,367)
-
-
12,770
44,700
20,300
-
-
-
65,000
69,174
134,344
(134,269)
-
-
69,249
316,011
154,644
(135,636)
-
95,000
430,019|
|---|---|
- 14 -
## **KINMEL BAY CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
|**19**
**Unrestricted funds**
**Previous year:**
**At 1**
Revaluation
reserve
Contingency
reserve
Youth worker
reserve
Capital assets
reserve -
general
Capital assets
reserve -
kitchen
Transport
reserve
Staff salaries
reserve
General funds|**(Continued)**
**January**
**2023**
**Incoming**
**resources**
**Resources**
**expended**
**Transfers**
**Gains and**
**losses**
**At 31**
**December**
**2023**
**£**
**£**
**£**
**£**
**£**
**£**
150,000
-
-
-
-
150,000
30,000
-
-
-
-
30,000
25,200
-
(25,200)
-
-
-
5,000
-
-
-
-
5,000
3,000
-
-
-
-
3,000
15,129
-
(992)
-
-
14,137
30,000
-
-
14,700
-
44,700
47,375
150,107
(113,608)
(14,700)
-
69,174
305,704
150,107
139,800
-
-
316,011|
|---|---|
- 15 -
## **KINMEL BAY CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **20 Designated 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.
|**Balance at**
**1 January 2023**
**Resources**
**expended**
**£**
**£**
Revaluation reserve
150,000
-
Contingency reserve
30,000
-
Youth worker reserve
25,200
(25,200)
Capital assets reserve - general
5,000
-
Capital assets reserve - kitchen
3,000
-
Transport reserve
15,129
(992)
Staff salaries reserve
30,000
-
258,329
(26,192)|**Transfers**
**Balance at**
**1 January 2024**
**r**
**£**
**£**
-
150,000
-
30,000
-
-
-
5,000
-
3,000
-
14,137
14,700
44,700
14,700
246,837|**Movement in funds**
**Incoming**
**esources**
**Resources**
**expended**
**Gains and**
**losses**
**Balance at**
**31 December**
**2024**
**£**
**£**
**£**
**£**
-
-
95,000
245,000
-
-
-
30,000
-
-
-
-
-
-
-
5,000
-
-
-
3,000
-
(1,367)
-
12,770
20,300
-
-
65,000
20,300
(1,367)
95,000
360,770|**Movement in funds**
**Incoming**
**esources**
**Resources**
**expended**
**Gains and**
**losses**
**Balance at**
**31 December**
**2024**
**£**
**£**
**£**
**£**
-
-
95,000
245,000
-
-
-
30,000
-
-
-
-
-
-
-
5,000
-
-
-
3,000
-
(1,367)
-
12,770
20,300
-
-
65,000
20,300
(1,367)
95,000
360,770|
|---|---|---|---|
||||360,770|
- 16 -
## **KINMEL BAY CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **21 Analysis of net assets between funds**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**£**
**£**
**At 31 December 2024:**
Tangible assets
-
445,000
Investment properties
245,000
-
Current assets/(liabilities)
185,019
9,693
430,019
454,693
**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2023**
**£**
**£**
**At 31 December 2023:**
Tangible assets
-
585,434
Investment properties
150,000
-
Current assets/(liabilities)
166,011
7,466
316,011
592,900|**Total**
**2024**
**£**
445,000
245,000
194,712|
|---|---|
||884,712|
||**Total**
**2023**
**£**
585,434
150,000
173,477|
||908,911|
## **22 Fund Details**
Contingency reserve A proportion of annual overheads to cover a potential reduction in income Capital asset reserve Funds set aside to cover future requirements for capital assets Staff salaries reserve A fund set aside to cover staff salary commitments Transport reserve A fund set aside to cover transport costs incurred on charitable activities Revaluation reserve The reserve created by the revaluation of the investment property Youth worker reserve A fund set aside to cover the costs of a youth worker Mission fund reserve Funds set aside for mission and humanitarian expenditure Church building reserve £446,250 is represented by the freehold property
## **23 Related party transactions**
There were no disclosable related party transactions during the year (2023 - none).
- 17 -