Company rnglstratlon number 04445279 (England and Wales) Charlty r•gIStraOn number 1094001 (England and Wales) FOREST TOWN CHURCH TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
FOREST TOWN CHURCH TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trust••8 Anthony Mithael Rist Anneke Vthelan Edmund Chan Cllve Case Gareth Houghton S•cretsry P Miller Country of Incorporatlon United Kingdom (England and e8) 04445279 Charfty rnglstratlon England and kIeS 1094001
FOREST TOWN CHURCH TRUST CONTENTS Pag• Trustees, report statement of trustees, responsibilities Independent examiners report Statement of finanaal activltles Balance sheet Notes to the financial slatements 10-20
FOREST TOWN CHURCH TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The trustees present their annual report and financial statements for the year ended 31 March 2025. The financial Statements have been prepared In accordance wlth the accounlng pollcles set out In note 1 to tho financial statements and comply wth the charitys Memorandum and A'deS of Associth'on, the Companies Act 2006 and 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance ryth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). (as amended for accounting periods cornmencing from 1 January 2019). ObJ•ctlvM and actlvltl The charity's object8 are to advance the Christian faith in accordance with the statement of belSefs appearing in its Memorandum and Articles of Association, to relieve persons are in conditions of need or hardship and such other charitable purpose as shall. In the oplnlon of the twstees, further to the work of the churth. Public benefft The trustee8 have pald due regard to guldance Issued ty the Charty Commls8lon In decidlng what actlvitles the charlty Should undertake. Fore8t Town Church Trust 1$ a multlcultural, multl-gener8tlonal Chrl8tian church wlth th• object of advancing the Christian Fafth, In accordance with the statement of beliefs appearing in ts Memorandum and Artides of A880datlon and such othar chantable purposes as 8hall, in the opts'on of the trustees, further the work of the Church. en planning the charity's actlvttS•s for th• y•ar, the trust••s have compliad with thelr duty In Sectlon 17 of the Charities Act 2011 to have due regard to guidance published by tha Charity Commission, induding publlc benefit guidance. The charlty has met Its publlc benefit requlrement through enabllng ordlnary people to Ilve out thelr faith as part of the church cornmunity by Inter alla: Worship gatherlngs and prayer meetlng8 open to all; teachlng about the G08pel of the Chr18tlan falth; and developing knowledge and trust in Jesu8,' Provislon of pastoral care for people in the communlty; Provlslon of cour888 in Important life 8kllls Such a8 money management and parentlng: and Ml8slonary 3nd autreath work, both locally arKI abroad.
FOREST TOWN CHURCH TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Achl•v•monts and p•rformance Signthcanl activities and 8chigvements against objectives We look back on this last year with gratitude for another fruitful and productive year in the lrfe of the church. Tho number8 of people attanding the church over the year has been steady. In April 2024 we had 528 adults and children attendlng. In April 2025 that number had increased to 580 adults and children. We are encouraged by this. Each year we welcome a good number of students into the church as they come to start their study at Uni and we Say goodbye to others that leave having completed their education. We are grateful to have them with us for a season as they prepare to enter the world of work and living as adults. The flnancial outlook of the church has also been encouraging thls past year. In the previous year ended March 2024 our income was £349k and our expenses for the year were £312k. At year end April 2025 our income has grown to £421k and our expenses for the year pre £349k, This reflects an Increased Income of £72k. Our expenditure for the year also increased by £37k. This was because of the trustees generousty Increasing the salaries of 8taff to help %*ryth the increased cost of living. We am grateful that we were In a p08ition to do this and thrfll continue to review $taff salarie8 to make sure that the staff are taken care of as best a8 we can. Hlghllghts fortho y•ar There are a number of regular mlnlstry events that happen In tho church. Some of these are weekly meeting8. like lrfe groups for example, and other events happen on a monthly basis a3 needed. Some of the waakly meetings that ran during the course of the year were our worship tlrnes on Sunday momings and evening8 and our life groups and Mum to Murn toddlers group. These continue to be the bedrock of church lrfe. In addltion to the88 y have weekly events for FUSE, our youth group and 8180 a weekly programme for our children's rnlnistry. These two areas of the church continuo to thrive and are a great Source of encouragement to U8. a180 host a monthty women'5 event called Mosaic and a monthly men breakfast. There are other monthty activities organised for the young adults in the church which have been popular. also host a monthly pastor8 breakfast for those in the cty that we have friendship wth. This is alsa a really encouraglng space for all involved. We are particularly encouraged wth the succeu of our bu8ine88 forum in tho life of the church. Thls Includas quarterfy business breakfast where different topics are taught and discussed . Alongside this there is an cohort of people that meet weekly for the NGL (new generats'on leadership) to work through material put together by Summlt Trek (An American coaching network) This indudes some mantorSng for people and help with problem 3ofving in various business scenarlos. We have been really encouraged to see that people feel comfortable to Invlte th•ir frlends to this forurn and it has been a real success to reach into our local business community. Ant and Helen Rlst ran a mentoring programme called "Tha Timothy sessions. during the year. This is a forum to which a number of people were invited to meet every second month for breakfast to have some Input on leadership and mentoring. In between each of these breakfast sessions an opportunty is extended to meet with them personally to have some mentoring time and discuss anythlng that might arise from the t8achlng at th8 br6akfa$t. This time has proved to be very fruilful in raising and releasing leader8 Into various areas of responsibilty in the life of the church. And finally here are a few other highlights from the year. In May a team of young people went to minister to mlnlster at a church in Enter in Holland. This VRS a great success and their Youth were encouraged. In July we had a thank you dlnner for volunteers that had served in the church over the year and we had over 200 people for the evening. It was a great celebrats'on of the generosty of many who have sown their time and gifts to see the church flouri8h. In September another team travelled down to St Austell in Comwall to minister at a ladies retreat for the weekend. Again this was a fruitlul time of ministry and those that were involved came bad( really encouraged at what happened over the weekend. In October we took our staff team and some other leaders from the church to the Activate Conference in Dresden Germany. Activate network is a group that we work with to plant churches into Europe and other parts of the world and provide leadership training for local churches as well. This was an encouraging and fruifful time for all involved.
FOREST TOWN CHURCH TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 At the end of October we took a smaller team to Singapore and Cambodia. This is one of the main mission Irips that we do each year. We support the church planting and educational initiatives of Bunna Yin and go each year to renew this partnership. We also continue to support the work of °Daught8rs of Cambodia. a NGO that helps to get young wornen out of the sex trade. They are dolng such Important work In Phnom Pehn. We also visited church of Joy In Slngapore on the way back from Cambodia. This is a small church that we have relatlonshlp wlth and ty to encourage ththenever we have the opportunty. December was a full month with our usual Christmas events which were the be8t attended that we have Seen over the years that we have been in St Albans. This too has been really encouraging. In January of 2025 we stsrted the recruitment of new life group leaders. We do not have sufficlent home groups at the moment and so have started to Set trainlng in place to $88 this radressed. It ha8 been Satisfying to see more Ilfe groups launched as the yaar progressed. And finally w• purchased Some new HD camera8 In March to help wrth an upgrade for our Ilve Stream on Sunday momings, It has baen pleaslng to 8ee that this has been appreclated by those that use the Ibve stream seNlce on Sunday momlngs. In conclusion it ha8 been a year of ongolng grovAh and progw88 in th• church which w• are really grateful to God for. We look forward to anothar good year ahead. Flnanclal rnvl•w The charity's income from donatlons and athvltles Increased durlng the year, up from £349,365 in 2024 to £421,322. Expendlture increased from £312,922 to £360,371. The charlty held total fund5 at 318t March 2025 of £2,065,150 (2024: £2.004,199) of whlch £2,047.248 were unrestrlcted (2024: £1,998,337), £0 deslgnated (2024: £0) and £17.902 (2024: £5,882) restrlcted. Of the unrestricted funds £2,008,118 (2024.. £1,968,921 ) can only be realised ty dlsposing of the church bullding,. this figure 18 calculated using tha book value 1888 the mortgages charged over the bullding. The charity has free reserves of £41,130 (unre8trfcted re8eNe8 le88 the rea118able book value of fixed a¥sets as defin above) at 31 st March 2025 (2024: £29,415). The trustees do not have a reserves policy which covers the free reseNe8 but the management are taklng 8teps to Improve the free reseNe position. It Is the policy of the charity that cash be maintained at a level to maintain adequate funds to cover salarles and rental agreements rf needed. and to Save towards repaySng the mortgage on the church building. The trustees 8et a budget annually and monitor cash flow to ensure their liabilities can be met. During the year the ¢harity'8 cash posltlon improved. but is n¢t yet at a level thl¢h would lully lIsty the pollcy. Con81dfjratl¢n Is given to ways in which addifjonal funds may b• rald. Tho trustees have as8e88ed the major rlsk8 to whlch the charfty18 exp08ed. and are satisfied that systems are in place to mStSgate exposure to Ihe major rfsk8. The charlty18 funded prlmarbly through donatlons recelved from member8 of the church congregatlon. The funds recelved are used to pay staff, repay the mortgage and maintain the church building. This expenditure enabled the Church to provide church serllces for the benefit of the church member8 and the local communty,. Ihrough the provision of these serlices it has achieved its objectives during the year. The trustees plan to continue to operate the church's core actlvlties. being the provislon of church seNices for the benefit of the local community and to have a positive impact on the lives of those attending through the promotion of Christian values. Structurn, governance and management The charity is a company limited by guarantee and govemed by It's Memorandum and Articles of Association.
FOREST TOWN CHURCH TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The trustees, who are also the dlrectors for the purpose of company law, and who served during the year and up to the date of signature of the financial statement5 were,. Anthony Michael Rist Anneke Vthelan Edmund Chan Clive Ca8e Gareth Houghton Recrnitment and appolntm8nt of twstees The trustees are appointed In accordance wilh the guidance Set out In the Charlties Commlssion, the requlrements 8et out by the Companies Act 2006. and the requlrements set out in the Memorandum and Artide8 of A88ociation. Trustees are appointed by ordinary re$olutlon. provided the appolntee meets all the requiraments. New trustees are nominated from within the congregation by the existing trustees and elders who are the Membern of the charity. New trustees are provided details of the charitys goveming d0mentS, twstfjo reports and financial statements and a full background on the charity's activ188. They are also encouraged to acces3 the Charity Commission website for details of trustee responsibilits'e8. governance guidelines and legalftles. Inductlon process has been devl8ed to ensure new trustees become fully famlliar with the workings of the charity following th•lr appointment. Tha appointed trustees are then registered with Companie8 House by the Charity 8¢cretary. None of the tru8tees ha8 any beneficlal Interest In the ¢ornpany. All of the tru8t8•s are member8 of the company and guarantee to ntrIbUte £10 In the ovont of a windlng up. Day to day operation of the charlty is delegated to Anthony Rl8t, 18 con81dered key management per80nnel. The tru8t¢e$' report was approved by the Board of Trustee8. Anthony Michael Rlst Dlrnctor and Trujteo Date: ..
FOREST TOWN CHURCH TRUST STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 The trustees, who are 8180 the directors of Forest Town Church Trust for the purpose of company law, are responsible fly preparing the Trustees, Report and the financial statements in accordance 1th applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each finandal year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resource8. Induding the income and expenditure, of the charitsble company for that year. In preparing the8e financial statements, the tru8tees are requlred to: - select suitable accounting policies and then apply them con8iStenty,' - observe the mathods and principlès in tha Charities SORP: - make judgements and estimates that are reasonable and prudent; state ¥thether applicable UK Accounb'ng Standards have been followed, subject to any material departures dlsdosed and explained in the financial statements., and prepare the financial statements on the going concem ba818 unleas it 18 Inapproprlate to presume that the charlty will contlnu• in op•rati¢n. The trustee8 are responslble for keeplng adequate accounting records that dl8do8e wlth reasonable accuracy at any time the financlal posltlon of the charity and enable them to ensure that the financial 8tatements comply wlth the Companles Act 2008. They are also respon8ible for safeguardlng the a$8el8 of the charity and hence for taking rea80nable 8tep8 for the prevention and detection of fraud and other Irr¢gularlti•8.
FOREST TOWN CHURCH TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FOREST TOWN CHURCH TRUST I report to the trustees on my examlnatlon of the financial statements of Forest Town Church Trust (the charity) for the year ended 31 March 2025. Respon•lbllltlos and ba815 of r•port As the trustees of the charity (and 8180 it8 directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance wlth the requirements of the Companies Act 2006. Having satlsfied myself that the financlal statements of the charity are not required to be audited under Part 18 01 the Companies Act 2006 and are eligible for Independent examination, I report in respect of my examination of the ¢harSty's financial statements carried out under seth'on 145 of the Charities Act 2011. In carying out my examination I havg followed the Directlons given by the Charlty Commls8ion under 8ectlon 145(5)(b) of the Charitles Act 2011. Ind•p•ndont •xamlnofs •t*tem•nt Since the charlty's gross Income exce•ded £250,000, the Independent examiner mu8t be a member of a body118ted in section 145 of the Charities Act 2011. 1 confimi that l am qualified to undertake the examlnatlon because l am a member of Institute for Chartered Accountants In England and Wales (ICAEW), whi¢h18 one of the listed bodie8. I have completed my examlnatlon. I confirni that no matters have come to my attentlon In connectlon with the examlnatlon glving me cause to believe thal in any materlal re8P•Ct: accounting records wern not kept in respect of the Charfty as requlred by 8ectlon 386 of the Companie8 Act 2008. the finandal statements do not accord with th088 records; or the fin8ncial 8tatement8 do not cornply wlth the accountlng requirements of section 396 of the Companles Act 2008 other than any requirement that the financlal statoment8 glve a true and fair view, whlch 18 nol a matter considered as part of an independent examinatlon; or the finandal statements have not been prepared In accordance wlth th• methods and prlndple8 of the Statement of Recommended Practice for accounting and reportlng by charitses applicable lo charltles preparlng their financial statements In accordance with the Finandal Reportlng Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concems and have come across no other mattern In connectlon with tha examination to whlch attention 8hr)uld be drawn In this report in order to enable a proper understanding of the financlal statements to be reached. Nicholas Corden, ACA for and on beha of Summers Morgan Chartered accountants Statutory auditors Sheraton House Lower Road Chorfeywood Hertfordshire WD3 5LH Date..
FOREST TOWN CHURCH TRUST STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Currnnt financlal year Unrnstrlcted RtrfCtsd funds funds 2026 2025 Total Totsl 2026 2024 Donations and legacles Charltable activitses Other tradlng activities Investrnents 371.311 9,531 100 374 40,008 411,317 9,531 100 374 341,981 6,038 1,093 253 Total Incom• 381,316 40,008 421,322 349,365 ndl Charitable activitle8 342,085 18,308 360,371 312,922 Not Incomlng re•ource• befor• trnn•fgr4 39,251 21,700 80,951 38,443 Gross Iran8fer8 between funds 9,880 (9,e60) Not Incom• for the yearl N•t movem•nt In fund• 48,911 12,040 60,951 36,443 Fund balanc•8 at 1 Aprfl 2024 1,998.337 5,862 2.004.199 1,967,756 Fund balance• at 31 March 2026 2,047,248 17,902 2,065,150 2,004,199 The Statement of financial actlvltlos Include8 all galn8 and108se8 regnISed In Ihe year. The statement of financlal adv5tS88 indude8 all g8in8 and Ios8es r•cognisad in th• year. All incomo and expanditurn dérive frorn continulng adivitles. The statement of financlal activitie8 8180 ¢omplie8 wlth the Mqulremant8 for an income and axpenditura account under the Companies Act 2006.
FOREST TOWN CHURCH TRUST STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Prlor flnanclal yoar UnrestrIct Restrfcted funds funds 2024 2024 Total 2024 Notes ncome from: Donations and legades Charitable actlvitses other trading actlvltl•s Investments 337.825 6,038 1.093 253 4,158 341,981 6.038 1,093 253 Total Income 345,209 4.156 349,365 dltu Charitable 8Ctivitse8 311,087 1,835 312.922 Not Incomlng mources befor• tran•f•r• 34,122 2,321 38,443 N•t Incorne for tho yoarl N•t mov•m•nt In fund8 34,122 2,321 38,443 Fund balances at 1 April 2023 1,964,215 3.541 1,967,756 Fund balances at 31 March 2024 1,998,337 5,862 2,004,199
FOREST TOWN CHURCH TRUST BALANCE SHEET ASAT31 MARCH 2025 2025 2024 Flxed a8s•ts Tangible assets 13 2,197,187 2,213,097 Current assets Debtors Cash at bank and in hand 14 8.037 65,998 5,769 48,082 74.035 51,851 Crodltor4: amounts falllng duo wlthln on• y•ar 16 (73,393> (74,479) N•t currnnt a88atsl(Ilabllltle8) (22,628) Totsl u*•ts IMS curr•nt Ilabllltla• 2,197.829 2,190,469 Cr•dftorn: amounts falllng du• aftor moro than one year 17 (132,879) (18e,270) Not as8•ts 2,085.150 2,004,199 Th• lunds of th• charlty Restrfcted income funds Unrnstrlcted funds 18 19 17,902 2,047,248 5,862 1,998,337 2,065,150 2,004,199 The ¢h8rity 18 entitled to the exemptlon from the audrt requlrement contalned In section 477 of the Compani•8 Act 2008, for the year ended 31 March 2025. The trustees acknowledge their re8ponsSbilities for ensurfng that the charlty keep3 accounting record8 1¢h compjy th sectlon 388 of the Act and for preparlng financial statement8 whlch give a true and falr vlew of the stata of affalrs of the company as at the end of the financial year and of its incoming resources and application of resource8, Including ts income and expenditure, for the financial year In accordance with the raquirements of sections 394 and 395 and which othepwise comply with the requirements of the Companies Act 2006 relating to financial statements, 80 far a8 appllcable to the company. The rnember8 have not required the company to obtain an audit of rts financial 8taternents ft)r the year in question in accordance wlth 8ection 476. These flnancAal statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved ty the trustees on ...... Anthony michael Dlrector and Thlgtee
FOREST TOWN CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollclgs Charlty Inforniatlon Forest Town Church Trust is a private company limited by guarantee incorporated in England and Wale8.The registered office is The Venue, Lyon Way. StAlbans, Hertfordshire, AL4 OLB. 1.1 Accountlng conventlon The financial statements have been prepared in accordance with the charitys governing documant, the Companies Act 2006, FRS 102 'The Financial ReFX)rting 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 charltie¥ preparing their accounts in accordance wlth th• Financial Reporting Standard applicable in the UK and Republi¢ of Ireland (FRS 102)" {effective 1 January 2019). The charity is a Public Benefit Entlty as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for tharities not to prepare a Statement of Cash Flows. The financlal statements are weparnd In 8terting, whlch 18 th• functional currency of the Charity. Monetary amounts In these financlal statements are rounded to the nearnst £. The financlal statements have been prepared under the hi3torfcal cost conventlon, modified to indude the revaluatlon of freehold properties and to include investment propertie8 and certaln financial instruments at falr value. The princlp81 accounting pollcla8 adopted are Set out below. 1.2 Golng concern At the time of approving the financlal Statements. the tru8tee8 have a reasonable expectation Ihat the charity has adoquate re80urces to continue In operatlonal exlstence for the foreseeable fuiure. Thu8 the tru8tee8 continue to adopt the going conc•m ba8is of accountlng in preparing the finandal $tstement8. 1.3 Charltabl• fvnd• Unrestrlcted funds are available for use at the d18cretlon of the tru8tee8 In furtherance of their charltabla obJ•ctives. Restrlcted funds are subject to speclfic condltlons 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, 1A Incomo Income is recognised when the charity is legally entltled to it after any performance conditions have been rnet, the amounts can be measured reliably, and it is probabla that income will be re1ved. Cash donations are recognised on receipL Other donation8 are recognised once the charity has been notified of the donatr'on, unles8 perfomiance conditlons 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 donatlon. 1.5 Expendlturn RepA)urces expended are induded in the Statement of Financial Activities on an accruals basis and ere relevant are stated indusive of VAT. Govemance costs comprise all costs relating to public accountsbilty of the charity and its compliance with regulatlon and good practice. These costs include costs relating to the Independent Examination. 10-
FOREST TOWN CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles (Contlnued) 1.6 Tanglble flxod amets Tangible fixed assets are inltially measured at cost and subsequently measured at cost or valuation, nat of depreciation and any impairnient losses. FehOld land and building8 are revalued every 3-5 years based upon the current market value wth any Impalmient below cost being recognised within expenditure on charitable activities. All gain8 are recognised within the revaluatlon reserve, unless they represent the reversal of previous losses lthlch have passed through charitable expenditure: in this case they are reversed through charitable expendlture to the extent of the prevlou8 Impalrment. Depr8ciatlon18 recognS8ed 80 a8 to writo off the $t or valuation of a88et8 less thelr resldual value8 over thelr Useful live8 on the following base8: Freehold buildings Fixtures and fith'ngs Computers Motor vehicle8 Audlo Equlpmont 2% straight line basi8 25% 8tralght Ilne basis 25% 8traight line basis 25% Straight Ilne bashs 25% stralght line b881S The galn or1088 arfsSng on the dlGposal of an asset18 determlned as th8 dlffer8nce between the sale proceed8 and the Garrying value of the asset, and l¥ recogni8ed in the statement of financial activities. 1.7 Impalrni•nt of flxed a••ets At each reporting end date, the charrty revlews the carrying amount8 of Its tangible assets to dat8nxSne whether there 58 any Indlcatlon that those assets havè suffered an impalmient 1088. If any such indicatlon exlsts, the recoverable amount of the asset is e8ts'mated in order to detemilne the extent of the Impairment 1088 {bf any). 1.8 Cash and ca•h equlvalents Cash and cash equivalents include cash In hand, depo81ts held at call with bank8, other 8hort-terni Ilquid investrnents with original maturities of three mcnths or le. and bank overdrafts. Bank overdrafts are shown thin borrowlngs In Current Ilabllltles. 1.9 Fln•nclal In•trum•nts 8aslc flnan¢lal ass•ts The company only has financial assets and financial liabilitie8 of a kind that qualify as basic financial Snstruments. Basic financial instruments are initially recognisad at transaction value and 8ub8equently measured at amortlsed cost. 1.10 EmployM ben•ffts The tharity operates a money purchase pension scheme. The contributlons due in the year are charged to the Statement of Financial Activities as they fall due. Crltlc•l iccountlng estlmatO5 and Judgemonts In the application of the charity's accounting poliries, the trustees are required to make judgements. estimates and assumptions about the carying amount of assets and liabilities that are not readity 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 dlffer from these estlmates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in lch the estimate is revised where the mision affects only that period. or in the period of the revision and future periods ere the revision affect8 both current and future periods. 11
FOREST TOWN CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from charitable actlvltles Unrnstrlcted funds 2026 Unrn$trlct•d fund$ 2024 Other Incom• Other income 9,531 6,038 Income from other tradlng actlvlti Unrmtrlctod Unrn8trfct•d funds fund• 2026 2024 Membershlp subscrlptions and sponsorshlps 100 1,093 Incom• from Investments Unrn8trfct•d Unmtrlctod funds funds 2026 2024 Interest recelvable 374 253 12-
FOREST TOWN CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Exp•ndltur• on charltable actlvltlos Unrnstrlcted R6strlct•d Funds Fund• 2026 2025 Totsl UnrestrICt Restrlcted Fund8 Funds 2024 2024 Total 2026 2024 Dlrect costs Staff costs Depreciation and impaimient Premlses Expense8 Dues and Subscriptlon8 Insurance Interest Pald Ml8ceManeous Expenses Prlnting. P08ting and Stats'onary Hospitalty Gifts Travel Costs Training Leaders, 81ngles and Marriage Weekends Marf(ellng and Event8 Telephone Costs Outreach Wort( 132,393 132,393 108,119 108,119 29,435 19,897 8,748 6,079 14,012 1,126 29,435 19,897 6,748 6,079 14,012 1,131 31,584 21,461 4,100 5,396 12,142 1,330 31,584 23.298 4.100 5.398 12.142 1.330 1,835 3,643 7,121 3.643 7.121 3,130 9,337 5,020 4,551 6,185 4,551 6,185 3,130 9,337 5,020 4,515 3.520 4.515 3.520 5,475 4,889 1,419 9.504 5,475 4,889 1,419 24.875 3,413 1.327 1,529 10,130 3,413 1,327 1,529 10.130 15,171 256,078 18,308 274,384 219,302 1,835 221,137 Grant funding of actlvrtle8 (See note 7) 3,060 3,060 9,170 9,170 Sharn of support and governance costs (800 nots 8) Support 78,178 Gov•manc• 4,749 78,178 4.749 69.381 13,234 69,381 13,234 342,065 18.308 360,371 311,087 1.835 312,922 Anaty8ls by fund Unrestrlcted fijnds - general Resth'cted fund8 342,065 342.065 18.306 311,087 311,087 1,835 18.306 1,835 342,065 18,306 360,371 311,087 1,835 312,922 13-
FOREST TOWN CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Grants payable Unrestrfcted Unrnstrlct•d Funds Funds 2026 2024 Gra8 lo institutlon8: UFM (Aknop) Daughters of Cambodia UCCF 2,700 3,800 2,012 1.200 2,700 8.812 Grants to Indlvlduals 360 2,358 3.060 9,170 8upport costs 8upport Governanc• costs costs 2025 Support Gov•rn•nGo Costs costs 2024 Staff ¢08t8 Bank charge8 Telephone Information technology C08ts 73,034 1,585 1,419 73,034 1,585 1,419 64,406 1,329 1,529 64,408 1.329 1,529 2.140 2,140 2,117 2,117 Independent Examination Fees Accountancy 3,800 1,149 3,800 1,149 2.472 10,762 2,472 10,762 78,178 4,749 82,927 69,381 13,234 82,615 Analysed between Charitable aclivitie8 78,178 4.749 82,927 69,381 13,234 82,615 Govemance 818 includes payment8 to the independent examlners of £3,600 (2024: £2,472) for independent axamination fees. Net movam•nt In funds 2025 2024 The net movement In funds is stated after chargingl(crediting)'. Fees payable for Ihe independent examlnatlon of the charity's financial statements Depreciation of owned tangible fixed assets 3,600 29.435 2,472 31,584 14-
FOREST TOWN CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 10 Th18ts05 During tha year a director and trustee, Anthony Rist, was paid a salary of £42.259 for pastoral servlces In acc(xdance the dauses goveming the remuneration of trustees contained in the Memorandum of A¥80claon. Total contiibutlons of £6.235 were paid in respect of the trustee's pension in the year. It18 the trustee8' vlew that In order to apply Biblical principlas it18 necegsary for the Eldership team to be represented on the board of directors. As a team 18 that of a husband and wtfe, the spouse of the full time Elder 13 paid a salary for the work undertaken. Trustee Cllve Case wa8 paid a salary of £14,123 for h18 work as part of tho pastoral team. Total contributlon8 of £1,389 were pald In respect of the trustee's pension in the year. No other Trustees received any remuneration or benefits from the charlty during the year. 11 Employ•e• The average monthly number of employee8 during the year wa8: 9 2026 NuMr 2024 Number Mlnlster (dlrector and Iru8tee) Leader Admin18tratlve Youth worker Pa8toral 8UPPOrt BuildSngs manager Total Employment costs 2025 2024 Wages and salarles 205,427 172,525 The total amount of employee benefits pald to key management personnel for thelr servlce8 lo the charlty were £42,259 (2024: £41,152). There were no employee8 whose annual remuneratlon was more than £60,000. 12 Taxatlon The charity Is exempt from tax on income and gains falling within Section 505 of the Taxe8 Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to Its charltable objects. 15-
FOREST TOWN CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 13 Tanglble fixed assets (Contlnued) Land and bulldings wlth a carying amount of £2.184,000 wa8 revalued at 28th October 2022 by Brasler Freeth, independent valuers not connected wth the charity on the basis of market value. The valuation confonns to Intemational Valuatlon Standards and was based on recent market transadons on am's langth terms for similar properties. This property was valued at £2,240,000, and has been revalued in the accounts to refiect this. The historic cost of the propety was £1,423,224. 14 Debtorn 2026 2024 Amounts falllng due wlthln one year: Other debtors 8.037 5.769 16 Loan• and ov•rdrafts 2026 2024 Bank loans 191.069 243.079 Payable wlthln one ygar Payable after one year 58,390 132,879 56.809 186.270 The bank loans are secured by a ¢hargg over the ¢harity8 freehold prapety and othor fixed assets. A bank loan of £600,000 was obtalned from Clydesdale Bank PLC In April 2008. This is a capital repayment loan, repayable ovèr 20 years. Interest is charged on tha mortgage at a rate of GBP Llbor + 1.25%. Th• amount outstanding at 31st March 2025 was £130,288 (2024: £168,929). A bank loan of £274,000 was obtalned from Clydesdale Bank PLC In November 2008. Thls 18 a capltal repayment loan, repayable over 20 years, with no caprtal payments for the first 29 months. Interest is charged on the mortgage at a rate of GBP Llbor + 1.5%. The amount outstanding at 318t March 2025 was £60,781 (2024: £78.808). 16 Credltors: amounts falllng due wlthln one year 2026 2024 Bank loan8 Trade credltor8 ruals and deferred income 16 58,390 10,475 4.528 58.809 14,270 3.400 73,393 74,479 17-
FOREST TOWN CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 Credltors: amounts f•lllng due after morn than one yoar 2025 2024 Notes Bank loans 16 132.879 186,270 18 Restrlctod funds The restricted fiJnds of the charfty comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as lo how they may be used. At 1 Aprll 2024 Incomlng ruources Rasourc•s •xp•ndod Transfors At 31 March 2026 Refugee Fund Daughters of Cambodia FurKI Building Fund Hardship Covi&19 fund Guitsr Fund Cambodla Fund Ant and Helan Glft Fund IT Equlpment Fund Van lund 700 700 1,279 3,076 1,001 4,388 4,655 983 1,500 340 1,279 3,076 1,008 4,156 (5) {3.113) (15,171) (17) 3,325 19,828 1,000 1,500 10,000 (9.660) 5,882 40,006 (18.306) (9,880) 17,902 Prevlous year. At l Aprll 2023 Incomlng Resourcas rnsourcos •xpended Tran•f•r• At 31 March 2024 Refugee Fund Overseas missions Hardship Covid-19 fund Guitar Fund 700 1,580 1.261 700 (1,580) (255) 1,008 4,156 4.158 3.541 4,156 (1.835) 5.862 18-
FOREST TOWN CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 18 Restrlctsd funds (Contlnu•d) All restrictions arise vthen Specified by the donor or when fund8 are raised for a particular purpose. Refugee fund was set up for people wanted to giva to spacific app•a18 to helps refugees. Daughters of Cambodla fund arls88 when the charity r8c8ive8 donations for "D8ught8rs of Cambodla" a NGO based In Cambodia to whlch Ihe charlty provldes grant funding, Building fund wa8 8et up for Ihe building renovation lch Is completed. Some peopl8 Still give into this lund for the maintenance of the bulding. Cambodla fund wa8 88t for for an outreach every year wlth ml88lon team to Cambodla to supwl church planting and lead8r8hip training Bunna Yin whom we have know for many years. The Hardshlp Covld-19 fund 1$ a benevolence fvnd Sot up to help Indivlduals affected by the pandemSc on case by case b8$1$. Guitar fund wa8 set up to raise money for a new guitar for our wor8hip leader Jonny. IT Equipment fvnd was set up to ralse money to buy Macbook and IPAD. VAN fund wa8 set up to ra18e money for purchase of van. Transfer of fund represents the tran8f•r of capital •l•m•nt of van purcha$•d during the year transferred to unre8tr1cted fund. 19 Unrn8trlcted funds The unre8trlcted funds of the charity compri8e the unexpended balances of donatlons and grant8 whlch are not subject to specific conditions by donors and grantors 88 to how they may be used. These indude designated funds which have been 8et aslde out of unrestrlcted funds by the trustees for specific purpo808. At 1 Aprfl 2024 Incomlng RMource8 r••ourco8 exp•ndod Transfern At 31 March 2025 G81 funds Revaluatlon reseNe 1,111,581 886,778 381,316 (342,065) 9,860 1,160,472 886.776 1,998.337 381.316 (342,085) 9.860 2.047.248 Prnvlou8 yoar: Incomlng r•sourcos Resourc expond•d Tran¥fer4 At 31 March 2024 2023 General fund8 Revaluation reserve 1,077.439 886.776 345,209 (311,087) 1,111,561 886,776 1,964.215 345,209 311,087 1,998,337 19-
FOREST TOWN CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 20 Analysls of net ass•ts botThn lunds Unrestrlctsd fund8 2025 Rostrlctsd funds 2025 Total 2026 At 31 March 2026: Tanglble assets Current assetsl{liabilities) Lang term liabiliti88 2,197,187 (17,260) (132,679) 2,197,187 17.902 (132,679) 2,047,248 17,902 2,085,150 Unrn8trlcted funds 2024 Re8trfcted funds 2024 Total 2024 At 31 March 2024: Tangible assets Current assetsl(liabilrtle8) Long term liabilities 2,213,097 (28,490) (186.270) 2,213,097 (22,628) (188,270) 5,862 1,998.337 5,882 2,004,199 21 Relat•d party transactlon• During the year, total unrestricted donatlons were recelved by the charity from the trustees of £33,529 {2024: £38.100). Helen Ri81, recelved a gro88 salary of £37.327 (2024.. £24,342), for 8ervice8 as part of the Eldership team. -20-