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← Redeemer Worthing Ltd

2024-08-31-accounts

Redeemer Worthing Ltd

Report and Accounts Year ended 31 August 2024

1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk

REDEEMER WORTHING LTD

CHARITY INFORMATION

FOR THE YEAR ENDED 31 AUGUST 2024

Directors/Trustees

Karen Lyon Christine Goodban Ulrike Skinner Peyman Bandar (resigned 29 April 2024) Garry Bateman Peter Giles (appointed 19 May 2024)

Key Staff

Rodney Haggar Joel Tostevin

Governing Document Memorandum and Articles of Association Charity Registration Number 1096530 Company Registration Number 04664258 Registered Office 44 Guildbourne Centre Worthing BN11 1LZ Independent Examiner Archie McDowall Stewardship 1 Lamb's Passage London EC1Y 8AB

Bankers Cafbank Ltd West Malling

Contents Page
Charity Information 1
Trustees' Annual Report 2-8
Independent Examiner's Report 9
Statement of Financial Activities 10
Balance Sheet 11
Cashflow Statement 12
Notes to the Accounts 13-23
Detailed Statement of Financial Activities with Comparatives 24

Page 1

DIRECTORS REPORT 2023-2024

OUR PURPOSES, AIMS AND PUBLIC BENEFIT

The main areas of charitable activity of the Church are the advancement of the Christian faith and the provision of relief, education and assistance for persons in conditions of need, hardship or distress. In order to achieve this, the objects of the company are as follows:

When planning our activities for the year, the Trustees and Members (church directional team) of the charity have considered the Charity Commission’s guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. The review of activities below reflects how we have implemented this through a range of activities, which we consider to be in line with both this guidance and our objectives.

REVIEW OF THE YEAR’S ACTIVITIES (September 2023 - August 2024)

Summary

Over the last year our Sunday morning gatherings have grown through people joining us who have moved to the area, and through people becoming part of a church for the first time. From a ‘Christmas in Narnia’ an all-age Bible study month and Christmas service (complete with hot chocolate and Turkish delight), to ‘Gather’ a church family camp over the August bank holiday weekend, we have offered fun opportunities for Christian education and spiritual growth, open to all. We have seen people's lives changed as they have encountered God. We have seen people connecting into family life through our groups: getting alongside one another in good times and bad, praying, reading the Bible, and sharing meals together. We have seen families and individuals loved and fed through Worthing Foodbank. We have loved coming into the presence of God, experiencing the Holy Spirit's transforming power as we have gathered for our Prayer and Worship nights. Young and old have been served and shown the love of Jesus through Redeemer Tots and visits to care homes. We have been able to be generous with money we have been

Page 2

given to bless charities, people and churches in Worthing and the nations. In order to support the growing work of the church we were delighted to appoint both a full-time Operations Manager and a part-time Youth Coordinator during the year.

Church Activities

The Church is continually looking for strategies to bring help not just to its members but also to the local town, the UK and internationally. This report reflects aspects of each of these three components. In each area of activity, the Trustees recognize, and are sincerely grateful for, the volunteers who contribute so much to all that happens in the life of the church.

Church Venue

The Church has been able to grow in-person meetings at their long-term venue of The Guildbourne Centre in central Worthing. Alongside an auditorium where the church community gathers for worship on Sunday mornings, the venue has a number of smaller rooms used for children’s activities and a tea and coffee area. The venue also houses the church offices and is used for Worthing Foodbank, Redeemer Tots pre-school group for the local community (welcoming around 50 under 5’s and their carers each week) and English language classes for beginners, all run by the Church. The venue is also used to host some church evening activities such as children/youth meetings, movie nights and prayer and worship times. For the majority of the time, however, the building is not used directly for church activities, but continues to add benefit to the local community by being sublet to others through the Church’s company ‘The Rooms (Worthing) Ltd’ (Company number 11750254). This provides:

‘Rooms’ has been an important addition to the facilities available in central Worthing, and appreciated by the local community, businesses and organizations alike. We have found the dual uses of the building to be complimentary: enabling people using Rooms to become more familiar with Redeemer Church, and providing church members with the opportunity to use the co-working space at preferential rates or to hire function and meeting rooms.

Giving

Over the year church members have given £424,785 (2023: £364,406) including recovery of tax through Gift Aid. This has been used both for the active ministries of the church and for gifts of £49,241 (2023: £19,584) to other charitable causes both in the UK and internationally. We are grateful for the generous and enthusiastic support of all our church members for the work of the charity.

Church Family

All are welcome to attend our regular Sunday services. We saw an average of 163 adults attending per week (a 12.4% increase from last year). We have been pleased to welcome new members and many visitors throughout the year. Some people have connected with us online, others through our co-working space, Rooms, and others through church facilitated services like Worthing Foodbank or Redeemer Tots playgroup. We have been delighted to welcome many new International members, helping to make our church community a rich and diverse family, welcoming to all.

Page 3

Approximately an average of 56 children take part in our children’s programme on Sunday mornings and 18 young people are part of our youth groups. During the year 7 people were baptized. Events were celebrated and a membership course was offered for 21 new members.

In addition to Sunday gatherings, approximately 100 church members meet midweek in small fellowship or teaching groups.

Gather

A highlight of August 2024 was a 4 day Church conference, ‘Gather’, which took place over the August bank holiday weekend at the South of England Showground, Ardingly. Three hundred and forty people participated in the event, some camping onsite and some visiting during the day. Tickets were modestly priced, and some were subsidized, allowing most people who wanted to attend to do so. The event was fully-catered by a local Worthing business, and times of worship, prayer and teaching were mixed with social activities and sports. There was a full programme of kids and youth activities but it was also an inclusive time encouraging intergenerational bonding, community building and Christian growth. Several other linked churches were included in the event, and guests from Dubai and the Philippines were welcomed to teach and encourage the attendees, strengthening our partnership with them. We intend to repeat Gather every two years.

Leadership

The Church Eldership team is unchanged from July 2021 and is made up of:

The Church Eldership was supported in implementing the vision of the Church by the appointment, in November 2023, of an Operations Manager.

Children

We value the work with all our children on Sunday mornings, whatever their age. Fun activities based on biblical teaching for the younger children and regular teaching for our older children and teens take place. This includes:

College and Students

Foundry – for 15-18’s

Foundry youth group gives young people the opportunity to experience God, to build solid friendships in the process, and to discover God’s purpose for their lives. It also provides spiritual preparation for those who are going on to university. The group meets regularly mid-week for social activities, worship, prayer and discussion. This work was considerably strengthened by appointing a part-time Youth Coordinator to the staff team in November 2023.

Overseas Mission

We have had continued involvement with the family of Regions Beyond churches around the world that we are part of. This has included ministry visits to Dubai, Mexico and South Africa to serve the churches there, and also to being received and taught in a group-visit to the Philippines. We were also privileged

Page 4

to welcome a church member from the Philippines to our church in Worthing, and hope to see the relationship with Grace City churches in the Philippines continue to grow over the next year as we learn from each other.

Evangelism

Sharing the good news of the gospel is core to our life as a church. Through weekly worship services, the Alpha Course, guest services and various other events, opportunity was made for many to hear the gospel. Some became Christians and others embraced the faith they had grown up with; 7 people were baptised.

English Classes

Free beginners English classes are offered during term time for those needing to learn English, to help them better connect with our local community.

Fernbank Residential Home and Berkeley Lodge

Regular visits to Fernbank have expanded to also include Berkeley Lodge to share an informal Christian service including a time of singing. These visits are highly appreciated by the residents and eagerly anticipated by the teams who visit.

Redeemer Tots

On Monday mornings during term time, we have run Redeemer Tots, a space for parents, carers, babies and toddlers to catch up and have fun! This has been a great opportunity to serve our town, welcoming up to 50 under 5s into our space each week, building relationships with parents, grandparents and carers, showing something of the love of Jesus and pointing them to other events that we have going on.

Worthing Foodbank

The church is proud to run Worthing Foodbank under the auspices of the Trussell Trust. Over the last year, we and our amazing team of volunteers have supplied 3,229 people (including 853 children) with food. We launched the ‘Bankthefood’ app which allows those donating food to see exactly what stock is needed at any moment. This has helped keep all our stock in good supply and avoided having to store surplus stock of some items. In addition to supplying regular Foodbank parcels, we delivered some Christmas cheer in the form of 150 hampers sponsored by a local charity.

To further assist people using Foodbank we welcomed a member of Christians Against Poverty each Friday, to give debt advice to those who wished it.

We are delighted to see this service continue to expand next year through a partnership with the Citizens Advice Bureau, and the provision of a grant, to host a Financial Inclusion officer on site 4 days a week.

PLANS FOR THE COMING YEAR

The key objectives to be addressed during the coming year (2024-2025) are:

Page 5

FINANCIAL REVIEW

Incoming Resources

Total incoming resources for the year increased from £447,230 in 2023 to £573,359 in 2024

Resources Expenditure

Total resources expended for the year increased from £364,038 in 2023 to £491,227 in 2024.

Funds and Balance Sheet

The movement in total funds for the year is a net increase of £82,132. At the year-end total funds were £1,061,259 of which £917,303 are General funds being unrestricted and undesignated. This balance is in line with the Church’s reserves policy.

GOVERNANCE AND DIRECTORS

There have been two changes to the Directors/Trustees during the year ending 31 August 2024. They are as follows:

In addition, the following trustees remained in office:

The Directors are regarded as the Trustees of the charity for the purpose of the Charities Act 2011. The board of directors, which meets five times a year, are responsible in law for implementing the strategic decisions and direction given by the Eldership/Directional Team of the Church. Directors are appointed by the Members at the Annual General Meeting. The Directors may also appoint a director to serve until the next Annual General Meeting, at which time they would cease to hold office but would be eligible for election.

In short, the role of the Directors is to ensure that:

Page 6

The Directors delegate the running of the charity to the Eldership/Directional Team of the Church as listed previously. The Eldership/Directional Team oversees the achievement of the objectives of the charity, manage day-to-day operational decisions and co-ordinate and direct the church’s work. Progress is monitored regularly by the Directors. The Directors are members of the church and bring experience and expertise in business, accounting, buildings, public sector, charity sector and law. Training is provided to board members as required.

Financial and Legal

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

Company Law requires the Directors (Trustees) to prepare Financial Statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements, the Directors are required to:

The Directors are responsible for keeping accounting records which disclose with reasonable accuracy, the financial position of the charity and which 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.

Internal control and risk management

The Directors have overall responsibility for the Church’s system of internal control. Such a system can provide only reasonable and not absolute assurance against errors or frauds. There is a clear delegation of the Directors’ authority through the Eldership/Directional Team to the rest of the charity.

The Church operates a planning and budgeting system with an annual budget approved by the board of directors. Significant changes are subject to specific approval. A financial reporting system compares results with the budget on a monthly basis.

The Directors monitor that the Church functions in compliance with all legislation designed to safeguard people and has policies covering areas such as GDPR, Health and Safety (including fire safety), safeguarding of children and vulnerable adults (including DBS checks) and a Staff handbook. Adequate insurance policies are also in place.

The Directors are satisfied that systems are in place to monitor, manage and mitigate the Church’s exposure to major risks. They also recognize that the nature of some of the Church’s work requires active acceptance and management of some risks when undertaking activities to achieve the objectives of the charity.

Page 7

Reserves Policy

The charity considers it good practice to hold 3 months of operational expenses in the bank. This position is reviewed annually in light of Charity Commission guidance.

Designated funds arise from the setting aside of some general giving against the identified need to maintain a fund with which to be able to assist members of the church who have a particular need.

Restricted funds arise where gifts are received for specific purposes.

Expenditure is distributed in line with these requirements.

Investment and Treasury Policy

In keeping with good financial management, funds are maintained to meet foreseeable recurring expenditure. It is not the charity’s general policy to commit to investments. No new investments have been made during the year to 31[st] August 2024.

EMPLOYEES

The work of Redeemer Worthing relies on the commitment and hard work of its valued staff. Communication links are maintained informally through sharing an office space as well as weekly team meetings. The full and part-time staff employed during the financial year 2023-2024 were:

In addition, the Church benefits from the voluntary services of a number of members.

INDEPENDENT EXAMINER

Stewardship Services was appointed independent examiner for the period of 1 year at the Annual General Meeting on the 29[th] April, 2024 and a resolution to appoint, or re-appoint, an independent examiner for the following year will be proposed at the next Annual General Meeting. This was approved by the Directors and signed on their behalf by Karen Lyon.

Karen Lyon Director Chair of Trustees

Mar 31, 2025

Page 8

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF

REDEEMER WORTHING LTD ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2024 on pages 10 to 23 following, which have been prepared on the basis of the accounting policies set out on pages 13 to 14.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner’s statement

Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants of Scotland, which is one of the listed bodies.

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:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts 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 accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Archie McDowall

Archie McDowall (Mar 31, 2025 12:38 GMT+1) Archie McDowall, BA CA Institute of Chartered Accountants of Scotland

Stewardship 1 Lamb's Passage London EC1Y 8AB

Date: Mar 31, 2025

Page 9

REDEEMER WORTHING LTD

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2024

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Investments
4
Other income
5
Total income and endowments
EXPENDITURE ON:
Charitable activities
6
Total expenditure
Net gains/(losses) on investments
Net income/(expenditure)
Transfers between funds
15
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
15		 Unrestricted
Funds
£
354,845
2,376
92,283
449,505
386,859
386,859
-
62,645
(5,237)
57,408
859,895
917,303		 Restricted
Funds
£
119,881
1,618
2,356
123,855
104,368
104,368
-
19,487
5,237
24,724
119,233
143,956		 Total
Funds
2024
£
474,727
3,994
94,639
573,359
491,227
491,227
-
82,132
-
82,132
979,127
1,061,259		 Total
Funds
2023
£
394,410
1,680
51,141
447,230
364,038
364,038
-
83,192
(0)
83,192
895,935
979,127

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing operations.

The statement of financial activities also complies with the requirements for an income and expenditure account required by the Companies Act 2006.

The notes on page 13-23 form part of these accounts.

Page 10

REDEEMER WORTHING LTD

BALANCE SHEET

AS AT 31 AUGUST 2024

Note
FIXED ASSETS
Tangible assets
8
Investments
9
CURRENT ASSETS
Stock
10
Debtors
11
Cash at bank and in hand
12
CREDITORS: Amounts falling
due within one year
13
Net current assets / (liabilities)
Total assets less current liabilities
CREDITORS: Amounts falling due
14
after more than one year
TOTAL NET ASSETS
FUND BALANCES
15
Unrestricted Funds
General funds
Designated funds
Restricted Funds		 Unrestricted
Funds
£
707,869
1
707,870
-
100,243
129,583
229,826
(20,394)
209,432
917,302
-
917,302
903,645
13,658
917,302
-
917,302		 Restricted
Funds
£
-
-
-
4,034
-
139,923
143,957
-
143,957
143,957
-
143,957
-
-
-
143,957
143,957		 Total
Funds
2024
£
707,869
1
707,870
4,034
100,243
269,506
373,783
(20,394)
353,389
1,061,259
-
1,061,259
903,645
13,658
917,302
143,957
1,061,259		 Total
Funds
2023
£
761,839
1
761,840
2,143
53,256
225,497
280,895
(13,608)
267,287
1,029,127
(50,000)
979,127
820,916
38,978
859,894
119,233
979,127

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006 however, in accordance with Section 145 of the Charities Act 2011, the accounts have been examined by an independent examiner and their report has been included in these financial statements.

The directors (who are the charitable company's trustees for the purposes of charity law) acknowledge their responsibilities for:

(a) ensuring that the charitable company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its net income or expenditure for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Trustees and were signed on its behalf by:

==> picture [371 x 45] intentionally omitted <==

----- Start of picture text -----
Karen Lyon (Mar 31, 2025 12:19 GMT+1) ______ Karen Lyon Date __ Mar 31, 2025
Karen Lyon
Charity number: 1096530 Company Number 04664258
----- End of picture text -----

The notes on page 13-23 form part of these accounts.

Page 11

REDEEMER WORTHING LTD

FOR THE YEAR ENDED 31 AUGUST 2024

CASH FLOW STATEMENT

Note
2024
£
Cash flows from operating activities:
Net cash provided by (used in) operating activities
a
40,016
Cash flows from investing activities:
Dividends, interest and rents from investments
3,994
Purchase of property, plant and equipment
-
Net cash provided by/(used in) investing activities
3,994
44,010
b
225,497
Note a: Reconciliation of net income/(expenditure) to net cash flow from operating activities
2024
£
82,132
Adjustments for:
Depreciation charges and provisions for impairment
53,970
(Gains)/losses on investments
-
Dividends, interest and rents from investments
(3,994)
(Increase)/decrease in stocks
(1,891)
(Increase)/decrease in debtors
(46,987)
Increase/(decrease) in creditors
(43,214)
Net cash provided by (used in) operating activities
40,016
Note b: Analysis of cash and cash equivalents
2024
£
Cash at bank with immediate access
269,018
Petty cash
489
Total cash and cash equivalents
269,506
Net income/(expenditure) for the reporting period (as per the statement of
financial activities)
Cash and equivalents at the beginning of the year
Change in cash and equivalents in the reporting period		 2023
£
61,540
1,680
(9,973)
(8,293)
118,246
172,250
2023
£
83,192
53,970
-
(1,680)
2,205
(12,471)
(63,676)
61,540
2023
£
225,008
489
225,497

Page 12

REDEEMER WORTHING LTD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

1 Statutory Information

The charity is a charitable company limited by guarantee and is incorporated in the United Kingdom. The company's registered number and registered office address can be found on the Company Information page.

2 Accounting Policies

These financial statements are prepared on a going concern basis, under the historical cost convention as modified by the revaluation of certain assets, which are measured at fair value through the Statement of Financial Activities.

These financial statements have been prepared in accordance with the "Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102") and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.

The principles adopted in the preparation of the financial statements are set out below.

a) Going concern

The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

b) Income

Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.

Income from donations and legacies includes:

The charity relies on volunteers to carry out many of its activities. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.

When donated goods, services and facilities are distributed or consumed, an expense in respect of those items is included in the Statement of Financial Activities. At the year end any goods that have not been distributed or consumed are recognised as stock; donated fixed assets are capitalised.

The charity has taken the view that it has only one charitable activity, namely the advancement of the Christian faith, and all income from donations, legacies and charitable activities is in respect of this one activity.

Page 13

REDEEMER WORTHING LTD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

c) Expenditure

The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.

The Charities SORP requires charities with income over £500,000 to allocate costs to the various activities undertaken by the charity. The nature of the work of the church is considered to be so integrated that the core charitable activity costs are considered to be for the one activity.

Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.

Page 14

REDEEMER WORTHING LTD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

d) Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects. The nature of the restriction determines whether the endowments represent permanent endowments or expendable endowments.

e) Tangible fixed assets

Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £2,000 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective the following rates of depreciation are charged:

Equipment Over 3 to 10 years Furniture 20 years Fit-Out costs 20 years

The carrying values of tangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate that the carrying value may not be recoverable.

f) Investments

Fixed asset investments are held to generate income and for their investment potential. Investments are valued as follows:

Impairment losses and losses arising on the disposal of social investments are included in the Statement of Financial Activities under the heading 'Expenditure on charitable activities'. Gains arising on the disposal of social investments are included in the Statement of Financial Activities under the heading 'Other income'. All other gains and losses on investment assets are included in the Statement of Financial Activities under the heading 'Net gains / (losses) on investments'.

g) Stocks

Stocks of donated items held for distribution to beneficiaries are measured at fair value; stocks of goods donated for the charity's own use are valued at an estimate of their value to the charity.

h) Pension scheme arrangements

The charity operates defined contribution pension schemes for its employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds.

i) Taxation

The charity has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.

j) Critical accounting estimates and areas of judgement The trustees do not consider that there are any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period.

Page 15

REDEEMER WORTHING LTD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

3 Donations and legacies

3
Donations and legacies
General Donations
Donations in kind
Grants receivable
Income tax recoverable
Donations in kind comprise the following:
Goods donated for:
Foodbank
4
Investment income
Bank interest
5
Other income
Newday, Fusion & Church camps
Management contribution from Rooms Worthing Ltd
VAT recovery
Other church events
Other income		 2024
£
357,502
47,670
2,271
67,283
474,727
2024
£
47,670
47,670
2024
£
3,994
3,994
2024
£
31,704
61,135
-
-
1,800
94,639		 2023
£
309,799
30,003
-
54,607
394,410
2023
£
30,003
30,003
2023
£
1,680
1,680
2023
£
1,491
48,558
(2,464)
3,556
-
51,141

Page 16

REDEEMER WORTHING LTD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

6
Charitable expenditure
Core activities
£
a
Costs incurred directly on specific activities
Church activities
51,573
Staff costs
152,707
Donations in kind expensed (note 4e)
-
Grants payable (note 4f)
37,891
242,171
b
Costs incurred on support & administration
Governance costs
4,200
Administration support costs
68,442
Depreciation of tangible fixed assets
49,971
Stock wastage
-
Other
120
122,733
Total expenditure
364,903
In the previous year, charitable expenditure was as follows:
Core activities
£
c
Costs incurred directly on specific activities
Church activities
38,211
Staff costs
126,004
Donations in kind expensed (note 4e)
-
Grants payable (note 4f)
19,584
183,800
d
Costs incurred on support & administration
Governance costs
4,320
Administration support costs
58,784
Depreciation of tangible fixed assets
49,971
Stock wastage
-
Other
120
113,195
Total expenditure
296,995		 Foodbank
£
20,898
31,416
45,779
11,350
109,442
-
12,883
3,998
-
-
16,881
126,324
Foodbank
£
7,513
19,798
32,208
-
59,519
-
3,526
3,998
-
-
7,524
67,043		 2024
£
72,470
184,122
45,779
49,241
351,613
4,200
81,325
53,970
-
120
139,614
491,227
2023
£
45,724
145,803
32,208
19,584
243,319
4,320
62,310
53,970
-
120
120,720
364,038

The fee payable to the independent examiner for preparing and examining the accounts was £4,200 (2023: £4,200).

Page 17

REDEEMER WORTHING LTD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

e Donations in kind expensed in year

Donated goods distributed in year
f
Grants payable
Grants for UK and overseas mission
Grants for the relief of poverty
The comparatives for the previous year are as follows:
Grants for UK and overseas mission
Grants for the relief of poverty
The charity's principal grants to institutions comprised:
Regions Beyond
Catalyst Network of Churches
International Aid Trust
Centre for Bio-Ethical Reform UK
Redeemer Chester-Le-Street
Newday Generation UK
Christ Church Birmingham
Mobilise Global
Yada UK
Grants to institutions for less than £1,000 each		 Individuals
£
4,403
1,000
5,403
Individuals
£
13
-
13		 2024
£
45,779
45,779
Institutions
£
32,397
11,441
43,838
Institutions
£
17,076
2,394
19,471
2024
£
23,506
-
-
1,945
2,000
1,000
10,000
1,200
2,745
1,441
43,838		 2023
£
32,208
32,208
2024
£
36,800
12,441
49,241
2023
£
17,089
2,394
19,484
2023
£
15,876
1,394
1,000
-
-
-
-
-
1,000
200
19,471

7 Analysis of staff costs, the cost of key management personnel and trustee remuneration and expenses

Gross wages, salaries & benefits in kind
Employer's National Insurance costs
Pension costs
Total staff costs		 2024
£
156,820
13,174
12,580
182,574		 2023
£
124,989
10,088
9,746
144,823

The average monthly number of employees during the year was 7 (2022: 6). Most of the charity's activities are carried out by volunteers.

No staff received salaries at a rate of more than £60,000 per annum.

During the year key management received employment benefits totalling £67,693 (2023: £75,060).

No trustees received employment benefits in either the current or preceding year.

No expenses (2023: £nil) were paid to, or for, the trustees.

Page 18

REDEEMER WORTHING LTD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

8

Tangible fixed assets

Cost
At 1 September 2023
Additions
Disposals
At 31 August 2024
Accumulated depreciation
At 1 September 2023
Charge for the year
Eliminated on disposal
At 31 August 2024
Net book value
At 31 August 2024
At 31 August 2023		 Fixtures
fittings and
equipment
£
49,769
-
-
49,769
16,814
4,512
-
21,326
28,443
32,954		 Computer
Equipment
£
2,289
-
-
2,289
1,323
322
-
1,645
644
966		 Furniture
£
38,320
-
-
38,320
5,748
1,916
-
7,664
30,656
32,572		 Fit Out
Costs
£
806,539
-
-
806,539
120,981
40,327
-
161,308
645,231
685,558		 Vehicles
£
20,679
-
-
20,679
10,891
6,893
-
17,784
2,895
9,788		 Total
2024
£
917,596
-
-
917,596
155,757
53,970
-
209,727
707,869
761,839

On 13 September 2020 the Church signed a 20 year lease on 1st Floor, Guildbourne Centre, Worthing. Fit out and other costs have been capitalised and will be depreciated over the length of the 20 year lease.

d asset investments
Cost or fair value brought forward
Cost or fair value carried forward		 Unquoted
shares
1
1		 2024
£
1
1		 2023
£
1
1

UK unquoted shares – In September 2020, a subletting company ‘The Rooms (Worthing) Ltd’ (Company number 11750254) was established to allow the Church to sublet space to others when not in use by the church.

10 Stock

Stock
Donated goods
For distribution to beneficiaries
Debtors
Falling due within one year:
Tax recoverable
Prepayments
Other debtors
Due from group undertakings
Falling due after one year
Loans to group undertakings
Total debtors		 2024
£
4,034
4,034
2024
£
5,513
3,806
4,597
74,231
88,146
12,097
12,097
100,243		 2023
£
2,143
2,143
2023
£
3,848
-
442
36,869
41,159
12,097
12,097
53,256

11 Debtors

The church has granted a loan of £12,097 to The Rooms Worthing Ltd, a 100% owned subsidiary. The loan is interest free, unsecured and will be repaid as funds become available.

Page 19

REDEEMER WORTHING LTD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

12 Cash at Bank and in Hand

h at Bank and in Hand
Cash at bank with immediate access
Petty cash
itors: liabilities falling due within one year
Accruals
itors: amounts falling due after more than one year
Loans (note 15)		 2024
£
269,018
489
269,506
2024
£
20,394
20,394
2024
£
-
-		 2023
£
225,008
489
225,497
2023
£
13,608
13,608
2023
£
50,000
50,000

13 Creditors: liabilities falling due within one year

14 Creditors: amounts falling due after more than one year

15 Funds

During the year the movements in the charity's funds were as follows:

Designated Funds
Guildbourne Centre
Gather fund (was Fusion and church
New Church plant fund
Internship Fund
Rent - GBC rent etc
Newday
Reserve for loan repayment
Bereavement support
Wider Church Ministry
General Unrestricted Funds
Total Unrestricted Funds
Restricted Funds
Special offerings
Foodbank
City Gate Fund
Kids Worker
Aggregate of funds		 Opening
balance
2024
£
-
c
-
5,402
-
10,000
-
17,796
1,473
4,307
38,978
820,916
859,894
-
119,233
-
-
119,233
979,127		 Incoming
resources
2024
£
1,925
31,251
-
100
-
-
-
-
-
33,276
416,228
449,505
29,756
72,966
-
21,132
123,855
573,359		 Outgoing
resources
2024
£
-
(20,545)
-
(1,285)
-
(575)
-
(80)
(10,000)
(32,485)
(354,374)
(386,859)
(23,455)
(76,546)
(4,367)
-
(104,368)
(491,227)		 Transfers
in the year
2024
£
(1,925)
(10,706)
-
1,185
(5,000)
2,437
(17,796)
-
5,693
(26,111)
20,874
(5,237)
-
-
5,237
-
5,237
-		 Gains and
losses
2024
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Closing
balance
2024
£
-
-
5,402
-
5,000
1,863
-
1,393
-
13,658
903,645
917,303
6,301
115,653
871
21,132
143,957
1,061,260

Page 20

REDEEMER WORTHING LTD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

Analysis of net assets by fund

The assets and liabilities of the various funds were as follows:

Tangible fixed assets
Investments
Stock
Debtors
Cash at bank and in hand
Creditors falling due within one year
Creditors falling due after more than o
In the previous year the movements in the
Designated Funds
Mission funds
Building fund
Foodbank Body Basics
Fit Out costs
Fusion and church camp
New Church fund (was Gather fund)
In Need Fund
Internship Fund
Rent - GBC rent etc
Roomsworthing Fund
Soup Run & Night Shelter
Youth Work
Burundi truck
Newday
Reserve for loan repayment
Bereavement support
Wider Church Ministries fund
General Unrestricted Funds
Total Unrestricted Funds
Restricted Funds
Special offerings
Foodbank
Aggregate of funds		 ne year
charity's funds
Opening
balance
2023
£
-
-
186
-
(2,084)
5,402
377
1,127
20,000
-
6,756
-
-
-
17,515
1,473
-
50,752
760,858
811,610
662
83,662
84,324
895,934		 General
Designated
funds
funds
£
£
707,869
-
1
-
-
-
100,243
-
115,926
13,658
(20,394)
-
-
-
903,645
13,658
were as follows:
Incoming
Outgoing
Transfers
resources
resources
in the year
2023
2023
2023
£
£
£
-
-
-
6,903
(2,037)
(4,865)
500
(686)
-
16,330
-
(16,330)
-
(1,418)
3,502
-
-
-
-
(400)
23
-
(1,808)
681
-
-
(10,000)
-
-
-
-
-
(6,756)
-
-
-
-
-
-
4,376
(6,333)
1,957
32,975
-
(32,694)
-
-
-
-
(5,693)
10,000
61,084
(18,375)
(54,483)
280,217
(275,304)
55,145
341,301
(293,680)
662
15,271
(15,271)
(662)
90,658
(55,088)
-
105,929
(70,359)
(662)
447,230
(364,038)
(0)
Unrestricted Funds		 Restricted
funds
£
-
-
4,034
-
139,923
-
-
143,957
Gains and
losses
2023
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 2024
£
707,869
1
4,034
100,243
269,506
(20,394)
-
1,061,259
Closing
balance
2023
£
-
-
-
-
(0)
5,402
(0)
0
10,000
-
-
-
-
(0)
17,796
1,473
4,307
38,978
820,916
859,894
-
119,233
119,233
979,127

Page 21

REDEEMER WORTHING LTD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

Analysis of net assets by fund

In the previous year, the assets and liabilities of the various funds were as follows:

Tangible fixed assets
Investments
Stock
Debtors
Cash at bank and in hand
Creditors falling due within one year
Creditors falling due after more than one year		 General
Designated
funds
funds
£
£
717,842
-
1
-
-
-
53,256
-
45,632
27,204
(13,608)
-
(50,000)
-
753,123
27,204
Unrestricted Funds		 Restricted
funds
£
-
-
2,143
-
152,661
-
-
154,803		 2023
£
717,842
1
2,143
53,256
225,497
(13,608)
(50,000)
General
funds
£
717,842
1
-
53,256
45,632
(13,608)
(50,000)
753,123
935,130

Mission Fund is money set aside to help those in need, locally and internationally.

Building fund is money set aside to be used for the acquisition of a lease and development costs for the church's new premises. Foodbank Body Basics fund is to support the church's foodbank serving the local area

Fit Out Costs Fund was created to set aside funds needed to fit out the church's new building Gather fund is for donations to support church planting.

In Need Fund is for donations to support need problems that arise.

Internship Fund is for donations to support the work of interns within the church.

Rent fund GBC is an amount set aside from donations to pay for rent, service charges & insurance

for the Guildbourne Centre in its early years.

Roomsworthing Fund aims to support the work of the church's subsidiary, The Rooms Worthing Ltd, in its work serving the local community.

Soup Run and Nightshelter Funds are for use for the service to the homeless.

Youth Work Fund is for the work amongst the youth of the church.

Newday fund is used for sending the children to a church camp week away.

Reserve for loan repayment is money used to pay back loans used for Guildbourne build and fit out

Bereavement fund is used to support those experiencing loss

Special offerings fund is used for raising money (via donations) for specific charities

Wider Church Ministries fund is used to pay for eldership support for other churches. Contingency Fund is designed to pay for any unforeseen events and could include a building project

City Gate Fund is to fund the church's work in Asia

Foodbank Fund is to support the church's foodbank serving the local area

Kids Worke r fund represents donations received to fund a new member of staff to oversee kids work at the church

Page 22

REDEEMER WORTHING LTD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

16 Loans and finance leases

The liabilities for concessionary loans referred to in note 10 fall due for repayment as follows:

Repayable:
Within one year
Between one and five years
After five years		 Otherwise
than by
instalments
-
-
-		 By
instalments
-
-
-		 2024
2023
£
£
-
-
-
50,000
-
-
-
50,000
Concessionary loans		 2024
2023
£
£
-
-
-
50,000
-
-
-
50,000
Concessionary loans
50,000

The concessionary loans are interest free and unsecured and were fully repaid during the year.

17 Operating lease commitments

The charity has an operating lease for its church building in the Guildbourne centre, Worthing. The minimum amount payable (until the next break clause and ignoring the potential effect of future rent reviews) in respect of this lease is as follows:

Within one year
Between one and five years
After five years
Payments falling due:		 2024
£
45,588
-
-
45,588		 2023
£
39,528
45,588
-
85,116

During the year the charity was charged £45,588 (2023: £38,112) for its operating lease.

18 Transactions with related parties

During the year the charity received donations totalling £57,826 (2023: £45,540) from related parties (which includes trustees, members of key management and anyone closely connected to them).

During the year the charity also made the following payments to, or for, related parties:

Except as disclosed in note 5 'Analysis of staff costs', there have been no other transactions with related parties during the year.

19 Subsidiaries

Details of the church's subsidiary at 31 August 2024 are as follows:

Class of
Registered shares % Held
Name of Undertaking Office Nature of business held direct
The Rooms (Worthing) Ltd 44 Guildbourne Property letting and Ordinary 100%
Centre, Worthing management

Page 23

REDEEMER WORTHING LTD

DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES

FOR THE YEAR ENDED 31 AUGUST 2024

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Investments
Other income
Total income and endowments
EXPENDITURE ON:
Charitable activities:
6
Total Expenditure
Net gains/(losses) on investments
Net income/(expenditure)
Transfers between funds
15
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
15		 General
Designated
2024
2024
£
£
352,920
1,925
2,376
-
60,932
31,351
416,228
33,276
354,374
32,485
354,374
32,485
-
-
61,855
791
20,874
(26,111)
82,729
(25,320)
820,916
38,978
903,645
13,658
Unrestricted funds		 Restricted
2024
£
119,881
1,618
2,356
123,855
104,368
104,368
-
19,487
5,237
24,724
119,233
143,957		 Total
2024
£
474,727
3,994
94,639
573,359
491,227
491,227
-
82,132
-
82,132
979,127
1,061,259		 General
Designated
2023
2023
£
£
265,156
23,733
1,680
-
13,381
37,351
280,217
61,084
275,304
18,375
275,304
18,375
-
-
4,913
42,709
55,145
(54,483)
60,058
(11,774)
760,858
50,752
820,916
38,978
Unrestricted funds		 Restricted
2023
£
105,521
-
408
105,929
70,359
70,359
-
35,571
(662)
34,909
84,324
119,233		 Total
2023
£
394,410
1,680
51,141
447,230
364,038
364,038
-
83,192
0
83,192
895,935
979,127

Page 24

Redeemer Worthing 2024 Accounts - Final for

signing

Final Audit Report

2025-03-31

Created: 2025-03-31 By: Archie McDowall (archie.mcdowall@stewardship.org.uk) Status: Signed Transaction ID: CBJCHBCAABAAV32JKDk5DXJ_DMhFdgOi_pVLUFdhH9hM

"Redeemer Worthing 2024 Accounts - Final for signing" History

2025-03-31 - 11:06:18 GMT

2025-03-31 - 11:08:07 GMT

2025-03-31 - 11:18:36 GMT

Signature Date: 2025-03-31 - 11:19:48 GMT - Time Source: server

Agreement completed.

2025-03-31 - 11:38:55 GMT