ROOTS for Churches Limited Icharitsble Company Lim5ted by Guarantee? Report of the Trustees and Financial Statements Year Ended 31 March Z024 ROOTS for Chur¢hes Llmited Index to the Financial Statements Year Ended 31 March 2024 Charfjty Number.. 1097466 Company Nukthr.. 4346069 lÉnglaThd & Walesl CONTENTS Pages Trustees, Report Ilncorpordting the Directorf Report) Independent Auditor's Report Statement of Financial Activities Ilneorporatin8 an Income and Expenditure Account) 12 Balance Shèet 13 Cashflow Staterneni 14 Accounting Policies and Notes 15 Page I ROOTS for Churches Llmited Trustees, Report (Incorporating the DIr￿lOrS, Report) Year Ended 31 March 2024 The Trustees, who are èlso Directors ol the Charitable Company for the pvrpose5 of the Companies Act 2006, present their report with the financial statement5 of the Charity lor the year ended 31 March 2024. The Trustees have adopted the provisions of the St3tement of Recommended Practice ISORPI and the Financial Reporting Standard IFRSI 102 effective from 2019. REFERENCE AND ADMINISTrATIVE D￿AlL$ Registered Company number 4346069 IEngland and Wales) Registered Charlty number 1097466 Re8lstered offi Chu¥ch House 86 Tavi5tock Place. London WCIH 9RT Trustees Dr Thomas Allain-chapman Revd Dalydd Aled Davie5 Zoe Keens Jo Hibbzrd Richard Reddie Dr Peter Hèmill Jenny Mills Date of Appointment I" November 2006 31° December 2001 23° May 2013 25° October 2019 21" March 2023 6 June 2023 S" January 2022 None of the Trustees hold any interest in the ChaTltable Companv. Compary Secretary Kamaljit Singh 13" January 2017 ManaBing Dirertor melan￿ Cave 6 June 2022 Auditors Sheen 51ickland Chartered Accountanis Registered Audilors 7 East Pallant Chichester West Sussex P019 ITR P4e2 ROOTS for Churches Llmlted Trustees, Report Ilncorporating the Directors. Reporti Year Ended 31 March 2024 Banker5 CCLA Investment Managemenl Ltd Senator House 85 Queen Victoria Slfeel Londtsn EC4V 4ET CAF Bank Ltd 25 Kings Hill Avenue Wesi Malling Kent ME19 41Q Nationwide Buildin8 Society Kings Park Road Mouton Park Northarnpton NN3 6NW Organlsation. structure and govemance ROOTS lor Churches Limited is a Charitable Company limited by guarantee. with the re8lStered charity number 1097466 and registered company number 4346069 and operates under the terms of the Memorandum and Article5 of Association dated 14 Deternber 2￿1, and 5ub5equently amended on 20 February 2003. The Chèritable Company is governed by a Board comprising the Trustees of the Charitable C(>rnpany who meet three to four knmes 3 year to conduct all statutory bu51ness and make all major financial decisions. In addits'on there is an AGM of the charitab￿ Companyeach year. The regular business of the Charitable Company is conducted by a Management Group compri5in8 the Board members and the Managing Director. This meets at leasi four times a year and receives reports from the Managing Oirector and. as required, from the Editors_ Day 10 day responsibilily IS vested with the Managing Director. ROOTS lor Churches employs seven pemanent part-time stall. The 8oard reviews and sets salary levels each year considering them against those in member churthes and organisations. The staff meet tsn a regulaf ba51S to consider matters of content and style of the magazines and website. All recommendations are advisory and are approved by the Mana8ement Group before implementation. This report should be read in conjunction with the informarion induded Ihe financial statements. Appointment, Indurtion and training of Trustees The Trustees are nominated by each ol the mernbers of the charital￿e Company. New Trustees are Subject to an induition meeting with the ROOTS Managing Director. An Introduction pack has been developed so new Trustees receive a brief history. background to the ROOTS subscribers, statistical information obtained from a recent suNey and Samp￿ rnaterial. Poge 3 ROOTS for Churches Llmlted Trustees. Report {Incorporating the Directors, Report) Year Ended 31 March 2024 Printipal aims and a(tivitie5 Roofs For Churches Limited was established lor the advancement of the Christian religion and the promotion tsl Christian education by the provision ol resources Iof worship and learning. This is achieved through ihe principal èctwities of the Charitable Company which are.. The publication of ecumenitèl resources based on Ihe Revised Common Lectionary. providing a wealth of material to support the week by week worshtp and learnin6 of the whole Church communily. It conslsts of two sets ol resources. Adult & All Age, and Children & Young People, published bi-monthly in print and online ai www.rootsontheweb.com. The development and mainienance of ihe website. wwrf.rootsontheweb.com. to store and make accessible the archive ol previously-published iesources, as well a5 presenting the ongoing new material5. The resour￿$ are sold through subsuiptions in order io prowde income to support ongoing operations. Through the above activibes loc￿ minislers and others who lead worship are supported through the provision ol re50urces'. Bible noies. sermon idea5. ways of presenting and responding to the readings, prayers. and activities for adults. children. young people and when all age5 worship together. These resources enable leaders to provide spiritual leadership to their various congregations and wider communities and to enable and encou¥age discipleship and Christian Public Benefit Statement The Trustee5 confirm that they have complied with the duty in section 17 01 ihe Charities Act 2011 to have due regard to the Charity Cownmission's general guidance on public benefit, 'Charities and Public Benefit,. rhe ROOTS worship resources result Irom 3 wde range of ecumenical endeavours. By working together acioss denominations and up and down church hierarchies the charity produces quality resources used by over 15.0(KJ worship leaders with greal cost ellectweness. Review of activrties and achievements It was a ch311enging year. with inflation and cost of INing crisi5 Irriparting many of our 5ubsuibers. We sawsome renewals moveffom print to digilal in orderto sèvemoney. as churches and individuals tightened their belts. We have also needed to incre85e our prices. which we had held as low as possible lor a number of years. in order to cover our costs. Ouf new website has been much delayed which h3s been disappointing. One of our longstanding editors retired this year and we recruited a new ediioi from a fantastic field of candidate5. With our new brandin& and our new Bread & Wine product to appeal to Eucharistic ehurches, Roots have seen an increase in sub5criptlOns from the Church ol England. ROOTS lor Churches Limited Trustees, Report Ilncorporating the Directors, Report> Year Ended 31 March 2024 Roots responded to church need5 bw. In response to a survey of our current subscribers, wanting further support to include Children and Adult5 Wlth additional needs, we developed and launched a visual timetable_ Increasing the diversity of our trustees and wriiers. Producing flexible resources to be used in churches. schools, youth group5. chaplaincies, prisons. etG as well as Qutdoor learning. We continued to control expense5 With online meeting5 for learn meetings and writers, conlèrÈnces, as well a5 finding cost savings. Financial review Total revenues from charitable activities were E437.036 3 4% decrease over the E455,078 generated in the previous year, the decltne due to a £56k one oll royalty income from Publi5her5 kncensing Soryety last year. Excluding this subscriptions revenues were IO% up year on year. With rising interest lates. investment income grew to £8,869, a £3.747 increase on last year. Expense5 at £483,86712023- £453.7871 grew by £30,080. Prime costs amounted to £413,07812023 E372,5071 with staff c05t5 accounting for Elok of the variance. Distribution £40,475 12023 £29,314), Selling £24,97712023 £47.0881. Governance E5.33712023- £4,878). Thi5 has given rise to a deficit of £37.962 for the year compared to 3 £6.413 surplus last year. As a result ol this the reserves now stand at £205.39612023 E243,3581. These re5erve5 Continue to provide a firm financial base on which to grow the business. Relationship5 with others The Charitable Company purchases finanoal management services from an independent consultant. Subscription management and distribubon services were undertaken by Hymns Ancient & Modem Ltd. Web development, hostinB and support services are provided by Impreza Ltd and bookkeeping by Neat Accounting. As of I" July 2023 subscription management and distribution moved to Yeomans. IwNe5tments and property The Charitable Company currently holds a cash surplus to cover short temi nee(ts on deposit. The ash surplus largely represents forward subscriptions for i55ue5 that have not yet been delivered. Ibwegtment pol All surplu5 funds are held with COIF Charities Dep051t Fund and in sawngs deposit accounts of other banks in a manner which provides acceptable retuffls and minimises exposure. Grants policy It is not the policy of ROOTS for Churches Limited to make grants to other or8anisation5. Pa8e 5 ROOTS for Churches Llmlled Twstees. Report Ilncorporating the Directors, Report) Year Ended 31 March 2024 Reseryes policy rhe Charitable Company has Identified the level of reserves which needs to be reached such that they can sustain the cash needs ol the Charitable Company as a goin8 concern. The appropriate level of reserves required have been estimated asthat sufficient to allow production of at least two further issues of the magazine and then allow an orderly wind down if necessary, including all termination costs plus a contingency. As at 31 Mèrch 2024 this amounted to circa £165.(N)O. Any surplu5 above this figure 15 to be Invested in the future development ol the magazines and specifically in the website. Rlsk ass¢s5ment The Trustees have a duty to identsfy and review ihe risks to which the Charitable Company is exposed and to ensure appropfiale controls are in place to provide reasonable assurance against fraud and erfor. The risk register was ￿vieWed by the Board in the year and several actions identified. Updating of the risk register is undertaken at leasi once a year. Statement of Trustees, rè4>onsibilfjtles The Trustees (who are 31sothe Directors of ROOTS for Churches Limited forthe purposes of company lawl are responsible for preparing the Report ol the Trustees and Iwiancial st3tements in accordance with applicable law and Uniied Kingdom Accounting Slandard5 (United Kingdom General]y Accepted Accounting Practice). Company law requires the Truslees to prepare the financial staiements for each financial year which give a true and fair view ol the state of affairs of the Charitable Company and ol the incomin8 resources and application of resources, including the income and expenditure, of the Charit3ble Company lor that period. In preparing those financial statements. the Trustees are required to- select suitable accounting policies and apply them consistently.. make judgements and estim3te5 thai are reasonable and prudent.. observe the rnethods and pftnciples In the chaiity SORP.. prepare financial statements on the 8oinB concern basis unless it 15 inappropriate to presume that activities will tontinue. The Trustees are responsible for keeping proper accounring records which disclose, with rea50nèble ccuracy. the financial p051tion ol Roofs for Churches Umited and which will enable them to ensure that the finèntièl statements comply with the Standing Orders of the Charitable Company 3nd Companie5 Act 2006. They are also responsible for 13king reasonable step5 to safeguard the assets of the Charitable Company and to prevent and detect fraud and other irregularities. Going contèrn The èttivities of the Charity. its objective5. factors likely to affect its future development and the policies for man4ing its Cèpltal and fin3ncial risk are detailed in the Trustees Report. The TrusteÈg have a reasonable expectation that the Charity has adequate resources to continue in operational existence lor the foreseeable future. Thus. they continue to adopt the going concern basis of accounting in preparing the financial slatementS. Pale 6 ROOTS for Churches Limited Trustees, Report {Incorporating the Directors. Report) Year Ended 31 March 2024 Appolntrnent of Audltors Sheen Stickland have expressed their willingness to remain in office as auditors of the Charity and their reappointment will be proposed at the Annual Genernl Meeting. Statement as to dlsdosure of Informatlon to Auditor In the case of each of the per50ns who are Tru5tee5 at the time when this report is approved, the following applies.. so far as the Trustees are aware. there 15 no relevant audit information of which the Charitsble Company's auditors are unaware, and they have taken all the steps that they ought to have taken as Twstees in order to make themselves aware of any relevant audit information and to estsblish that the Charitable Company's auditors are aware of that information. This report has been prèpared in attordance with the special provish)ns of Part 15 of the Companies Act 2006 relating to small companies. By order of the Board Revd Dafydd Aled Davies Trustee Date 13, November 2024 Page 7 IndependentAuditorfs Report to the Members of ROOTS lor Churches Limfted Oplnlon We have audited the financial stalements of ROOTS for Churches Limited Ithe'charitable company'l lor the year ended 315t MaTch 2024 which comprise the Statement of Financial Activities. the Ba13nce Sheet, the Cash Flow Statement and notes io the financial statements, includin8 a summary of significant accounting policies. The financial reporting framework that has been 3pplied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practiiel. In our opinion the financial statements.. give a true and fair view ol the state ol the tharitable company's affai￿ as at 31st March 2024 and of its in£orning resources and application of resoufces. including it5 income and expenditure, lor the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practio,. and have been prepared in accordance with ihe requiremenls ol the Companies Art 2006. 8asis for oplnlon We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor5 responsibilitie5 for the audit of the financial statements section of our report. We are independent of the charitable company in 3ccordance wth the ethical requirernenis ihatare relevant to our3vdit of the financial statements in the UK. including the FRC'5 Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirernents. We believe ihatthe audit eViden￿We have obtained is sufficient at￿ appropriaie to provide a basis for our opinion. Conclusions relallng to going concern In auditing the financial statemenis. we have concluded that the trustees, use ol the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have nor identified any materi31 unceriainties relating tts Èvents or ionditions that. individually or collectively. may cast significant doubi on the charit3ble company's ability to continue as a goin8 concern for a period of at least twelve months from when ihe financial statements are authorised for issue. Our responsibilities and the responsibilities ol the Irusteeswith iespect togoing concern are described in the relevant sections of thi% report. Other intormation The trustees are responsTble for the other informatKJn. The otheT inlorniaih)n comprises the information Included in the annu31 report. other than the financial statements and our Ileport of the Independent Auditors thereon. Our opinion on the linanoal statements does not cover the other infomiation and, except to the extent otherwise explicitly stated in our report, we do noi express any form of a55urance conclusion thereon. Pa8e8 Independent Auditof s Report to the Members of ROOTS for Churches Limited In tonnection with our audit of the financial staiements, our responsibility is to ￿ad the other information and, in doing so, consider whether the other Information is maierially inconsistent wth the financial statements or our knowledge obtained in the audit or otherwise appeèrs to be materially misstated. Il we identify such material incons15tencies or èpparent material misstatements, we are Tequiied to determine whether there is a material misstalement in the financial statement5 or a maierial misstatement of the Dther information. 11. based on the work we have performed. we ionclude that there ts a rnateri31 mi5%tètemeni of thi5 Other information, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescrlbed by the Companies Art 20&5 In our opinion, based on the work undertaken in the Course of the audit.. the information given in the Report of the Trustees for the financial year for which the finanual statements are prep3red is consistent with the financial statement5', and the Report of the Trustees h35 been prepared in accordance wjth applicable legal requirement5. Matters on whlch we are required to report ￿ eX￿ptIon In the light ol the knoW￿dge and understsndin8 of the charitable company and its environment obtained in the course ol the audit. we have not identified material misstatements in the Report of the Trustees. We have nothing to report in respèct of the following matters Whe￿ the Comp￿leS Act 2006 require5 US to report to you il. in our opinion.. adeouate accounting records have not been kept or returns adequate lor our audit have not been recewed from branches not wsited by vs.. or the financial statements are not in agreement with the accounting records and return5.' or certain di5clo%ure5 01 trustees, remuneration specified by law are aot made.. or we have not received all the infomiation and explanatlOn5 we require lor our audit,. or the trustees were not entitled to t3ke advantage of the small companies exemptK)n from the requirement to prepare a Straiegic Report or in preparing the Report ol the Trustees. Responslblllties of trustee5 As explained more lully in the Statement ofTrustees Responsibilities. the trustees Iwho are also the directors ol the charitable company for the purposes of company lawl are responsible for the preparation of the financial st3tementS 3nd for being satisfied that they v've a true and fair view. and for such internal control as the tiustees determine is necess3ry to enable the pieparation of financial statements that are free Irorn material misstatement, whether due to fraud or error. In preparing the financial statements, the Iru5tee$ are responsible for assessing the charitsble company'5 abilily to continue as a 80ing concern. disclosin& as applicable. matters relared to going concern and using the going concern ba515 of accounting unless the trustees either intend to liquidate ihe charitablè company or io lease operations. or hève no realistic alrernative but to do 50. Page 9 Independent Auditorfs Report to the Members of ROOTS for Churches Limited Our responsibilltles for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether due to fraud or error. and to issue 3 Repoft of the Independent Auditors that include5 our opinion. Reasonable assurance is a high level ol assurance. but is not a 8uarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influen£e theeconomic decisions of users taken on the basls of these financial statement5. Irregularities, Including fraud, are inst3nces of non-compliance with laws antl re8ulation5. We design procedur￿ in line with our responsibilirEs, outltned above. to deted material mi55tatements in respect ol irregul8rities, including fraud. The extent to which our procedures arè eapable of detecting irregularities, including fraud 15 detailed below= Enquiry of management. those cha¥ged with governance and the entity's solicitors around actual and potential litigation and claims. Auditing the risk of management (werride of tontrols including through testingjournal entries and other adjustments lor 3ppropriateness. and evaluating the business rationale of significant transactions outside the normal course of business. Enquiry ol management and staff to identify any instances of non-compliance with laws and regulaiions. Reviewing minutes of meeting5 01 those charged with governance. Reviewing financial statement disclosures and testing to 5upw)rting documentation to assess compliance with applicable laws and regulations. As part of an audit in accordance with ISAS IUKI. we exercise professKJnal judgment and maintain professional scepticbsm throughout the 3udif. We also.. Identify and a5se55 the risks of material misSt3tement ol the financial ststements. whether due to fraud or error, design and perform audit procedure5 ￿sPOnS￿e to those risks. and obtain audit evidence that is sufficient and appropri3te to provide a basis for our opinion. The risk ol not detecting a material misslatement resultin8 from fraud is hi8her than for one resvltin8 from error, a5 fraud may involve collusion, forgery. intentional omission5. misrepresentations, or the override of internal control. Obtain an understanding ol internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressinÉ an opinion on the ellectiveness ol the internal control. Evaluate the appropri3tene55 01 accounting policies used and the reasonablene55 of accounting estimates and related di5c105ures made by the trustees. Conclude on the appropriateness ol the trustee's use of the going concern basis ol accounting and, based on rhe audit evidence obtained. whether a material uncertainty exists related to events or condition5 that may cast 5￿nIf1c3nt doubt on the charitable cornpanV5 ability to continue as a goin8 concern. If we conclude that a material uncertainty exists. we are required ro draw attention in our auditorfs report to the related disclosures in the financial statements or. il such disclosure5 are inadequaie, lo modify our opinion. Our conclusions are based on the audit evidence obtained up to the date ol our 3uditorfs report. However, future events or condition5 rnay cause the charitable company to cease to continue as 3 going concern. Ev31£13te the over311 presentation. sirutture and content of the financi31 staiement5, including the disc105ures, and whether the financial statements represent the undedying transactions and events in a manner that achieve5 lair preseniation. We communicate with those charged with governance re8arding. among other matters. the planned scope and timing of the audit and significant audii findings, inclvding any stgnilicant deliciencies in interThal control that we identify during our audit. Page 10 Independent Auditor's Report to the Members of ROOTS for Churches Limited Use of our report This repori is made solely to the chafiiable company's trustees. as è bo(ty, in accordance with Chapter 3 01 Part 16 01 the Companies Act 2006. Our audit work has been undertaken $0 that we might state to the charitable company's trustees those maiters we are required io state to in an auditor's report and lor no other purpose. To the lullest extent permitted by law. we do not accept or assume Te5pon5ibility to anyone other thèn the charitable company and the charitable company's tnjsiees as a body. for our audit work. loi this report, or lor the opinions we have formed. Sheen Stickland Chartered Accountants Statutory Auditors 7 East Pallant Chichester Wegl Sussex P019 ITR Dale.. IJ li ROOTS for Churches Llmited statement of Flnancial Activities {in¢ludlng Income and Expenditure Account) For the Year Ended 31 March 2024 Notes Z024 2023 INCOME Charitable Artivities Investment Income 437,036 8,869 455,078 5,122 Total 445.905 460,200 RESOURCES EXPENDED Charitable activities Other 483,867 453.787 Total 483,867 453,787 Net incomellexpenditurel 137,9621 6,413 Recorlciliation of Funds Total Funds brought forward 243,358 236,945 Total Funds carried forward 205396 243,358 Contlnuing Operations All incoming resources and resources expended arise from continuing artivities. All movements a￿ in unrestricted funds The notes on pa8e$ 15 to 19 forni part ol these fina￿131 statements Pk8e 12 ROOTS for Churches Limited Balance Sheet For the Year Ended 31 March 2024 21)24 2023 Notes FIXED ASSEts Tangible assets io CURRENT ASSETS Debtors Cash at bank and short term deposit li 48,933 357,221 406,154 21,967 437,282 459,249 CREDITORS: amounts falling due within one year 12 {21XI,7581 (215,891) NET CURRENT Assrrs 205,396 243,358 TOTAL ASSETS LESS CURRE￿ LIABiunES 205.396 243,358 NET ASSErs 205,3% 243,358 RESERVES Unrestricted Fund5 205,396 243.358 205,396 These financial statemertts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2tX16 relating to small charitable companies. These financial statements were approved by theTrustees and authorised for issue on 13, November 2024 and signed on their behalf by: Revd Dafydd Aled Davies- Trustee Dr Thomas Allain Chapman - Trustee The notes on pages 15 to 19 form part of Ihese finandal statements Page 13 ROOTS for Chur¢hes Limited Balance Sheet For the Year Ended 31 March 2024 2024 2023 Notes Net incomellexpenditurel Adjustments for.. Interest receipts Ilncreasel/Decrease in debttsrs Increase IIDecreasel in credilors {37.9621 6.413 18.8691 126.9661 115,1331 15.122) 11.887) 1,481 Cash flows from operating aetlvttles 188,9301 Cash flows from inve5tin8 actrvities Dividend5, interest and rent5 from investments 8,869 5,122 Change in cash and cash eq￿valents in the year 180.0611 6,(￿7 Cash and cash equivalents at the beginning of the year 437282 431,275 Total cash and cash equivalents at the end of th¢ year 357,221 437,282 Page 14 ROOTS for Churche3 Limited Notes on the Flnancial Statements Year ended 31 March 2024 ACCOUNnNG POLICIES Accounting convention The financial statements have been prepared in accordance with Accounting and Re¥>orting bv Charities.. Statement of Recommended Practice aP￿￿1Cab1e to charities preparing their accounts in accordance with the Financial Reporiing Standard applicable in the UK and Republic of l¥eland IFRS 1021 leflective l January 20191-ICharities SORP IFRS 10211. the Financial Reporiingstandard applicable In the UK and Republic of Ireland IFRS 1021 and the Companie5 Act 2006. The finantial statements have been prepared under historical cost convention with the exception ol investments which are included at market value. ROOTS loi Churches Ltd Meets the definition of a public benefit entity under FRS 102. Going Concern After m3kin8 enquires, the Trustees have 3 ￿asonable expectation that the Charity has adequaie resources to continue its activities lorthe foTeseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements as outlined in the Statement of Trustee's Responsibilities on page 6. Incomlng resources Incoming resour￿5 represent5 subscriptions income which is initially recognised on a receivable b351S Wlth that relating to f￿Ure issues delefred. Deferred incorne 15 ¢3kulated using 3 Straight line method Whe￿b¥ the income is recognised in equal amounts over the term ol the subscription. Investment income is recognised on a receivab￿ ba515. Resowce5 expended Charitable activities expenditure represents the net cost of Sales which is Bnalysed further into the subheadtngs ol prime cost5, distribution costs and selling expense5 in accordance with the purpose in which they are expended. Governante costs Governance costs relate to the general running of the tharity and include items such as internal and eKtern31 audit and costs a5S0Ciated with trustee meetings and preparin@ statutory accounts. Tangible fixed 355et5 and depreciation Tangible fixed èssets over £l.000 afe capitali5ed at cost and are stated at cost less depreciation. Depreciation is provided at rates calculated tts write off the cost le55 estimated re51du31 value of each asset over its expected useful life. as follows.. Computer Equipment 3 year5 on c05t Taxation The ch3rity is exempt from torporation tax on its charitable activitie5. Funds Unrestricted funds are general funds which are available lor use at the discretion of the Trustees in lurther8nce of the genef31 objectives of the Charity and which have not been designated for other purposes. Page 15 ROOTS for Churches Limited Notes on the Financlal Statements Year ended 31 March 2024 Restricted funds can only be used for particular restricted purposes within the objectives ol the charity. Restrictions arise when Specified by the donor or when funds are raised for particular restricted purposes. Pension costs and other post-rÈtlrement benefits The Charitable Company oper3tes a defined contribution pension scheme. Contributions payable to the Charitable Companls pension scheme are charged to the Statement of linancièl Activitie5 in the period to which they relate. CHARITABLE AcllviTIES 2024 2023 Subscriptions and magazine sales Royalty income Other income 435,519 1.517 397.701 56.777 600 455,078 437,036 INVESTMENT INCOME 2024 2023 Dep051t atcouni interest 8,869 5.122 CHARITA8LE ACTNITIES COSTS Direct costs Support costs Totals 2023 Prime costs Oistribution costs Selling expens Governance 402.907 0,475 24.977 5.337 10.171 413,078 40.475 24.977 5,337 372,507 29,314 47,088 4,878 473.696 10.171 483,867 453, 787 SUPPORT COSTS 2024 2023 Finance Insurance Other 4.502 3,370 2,299 6.984 3,025 779 Total 10.171 10,788 Pase 16 ROOTS for Churches Limited Notes on the Flnancial Statements Year ended 31 March 2024 GOVERNANCE COSTS 2024 2023 Auditors. remuneration 5.214 4.878 Travel and other costs 123 5237 4.878 NET INCOMING/IOUTG(￿NGj RESOURCES Net resources are stated alter charginE/lcreditingl'. 2024 2023 Auditors. remuneration 5,214 4,878 TRUSTEES REMUNERATION AND 8ENEFITS There were no trustee5' remuneration or other benefits forthe year ended 31 Marth 2024 nor lor the year ended 31 March 2023. Trustees. expenses There were trustee5' expenses totalling £850.29 during the year12023- £01. STAFF COSTS 2024 2023 Wages and salaries Social security Costs Pensions 203,610 14,229 21,803 194.446 13.493 18,702 239,642 226,641 The average Week￿ number of employees during the year were as follows.. Editorial and production Admini5tr3titsn 2024 No. 2023 No. No employee earned more than £60.0(M) in the year. Pa8e 17 ROOTS for Churches Llmlted Notes on the Financial Statements Year ended 31 March 2024 10. TANGI8LE FIXED ASSErs Computer Equipment Cost At l Aprsl 2023 1,542 31 March 2024 1,542 Accumulated dèpreclatlon At L April 2023 1,542 31 March 2024 1,542 Net bogk values 31 Mareh 2024 31 March 2023 11. DEBTORS 2024 2023 Trade debiors other debtors Prepaid Costs and accrued income 360 10,293 11,314 22,653 26.280 48,933 21,967 12. CREDITORS amounts falin8 due wlthin one year 2024 2023 Trède creditors Taxation 2nd 50ci31 security payments Other creditor5 Accruals and deferred income 15,957 6,663 304 177A34 11.2Q5 4,320 2￿,366 200,758 215,891 P38e 18 ROOTS for Churches Limited Notes on the Financial Statements Year ended 31 March 2024 13. RELATED PARTY DISCL05URES There were no related party transactions lor the year ended 31" March 2024 nor the year ended 31" March 2023. Page 19