## TRUSTEES’ REPORT AND FINANCIAL STATEMENTS For the year ended 31 August 2024 


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Ce.<br>RIVERSIDE<br>**----- End of picture text -----**<br>


Riverside Church Trust Charity number: 1099487 Company number: 04479264 


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Riverside Church Trust - Final accounts - 31 August 2024 

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## REFERENCE AND ADMINISTRATIVE INFORMATION 

Charity Name: Riverside Church Trust Charity Registration Number: 1099487 Company Registration Number: 04479264 Registered Office and operational Riverside House address: 21 Alcester Road Moseley Birmingham B13 8AR 

## TRUSTEES/DIRECTORS 

—__TAbnett 

A Barker (resigned 8 January 2024) R Pumphrey M Robertson - Chair J} Tomlinson M Waldram 

G McLachlan (appointed 21 June 2024) 

AUDITOR ~—~—~—~—CBANKERS)———“<‘iéS~~—dSOLICITORS — Sumer Auditco Limited The Co-operative Bank PLC Anthony Collins Solicitors LLP The Beehive PO Box 250, Delf House 134 Edmund Street Beehive Ring Road Southway Birmingham London Gatwick Airport Skelmersdale B3 2ES Gatwick WN8 6WT United Kingdom RH6 OPA 

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Ce 

The Trustees, who are also directors of the company for the purposes of Company Law, present their report and accounts for the year ending 31 August 2024. 

This report has been prepared in accordance with: the Statement of Recommended Practice applicable to charities preparing their accounts; the Finance Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015), and in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006. 

## OBJECTIVES AND ACTIVITIES 

Riverside Church Trust is an independent Christian church. 

The objectives of Riverside Church Trust as defined in the Memorandum and Articles of Association are, in the United Kingdom and overseas: 

- e To advance the Christian faith; 

- e Todemonstrate the Gospel of Jesus Christ by the relief of persons who are in conditions of need, hardship or distress or who are aged or sick; 

- e To demonstrate the Gospel of Jesus Christ by the advancement of education including (without limitation) promoting and staging artistic activities such as performances of music, drama and/or dance; 

- e To provide leisure, recreational and other community facilities with the object of improving the conditions of life for those living in the communities for which such facilities are provided, thereby demonstrating Christian concern for the welfare of the whole person; and 

- e The promotion of such other charitable objects as the Board shall from time to time determine. 

These objectives do not change, but the strategies and goals agreed may change. 

Our aim is to always hold to our mission statement: 

“We are a church on a journey to help people get to know Jesus and grow as His followers across Birmingham and beyond.” 

In line with this mission statement, we are committed to enabling as many people as possible to worship at our services, belong to our fellowship, develop their spirituality and express their faith through service to others, particularly those in need. We try to enable ordinary people to live out their faith as part of our fellowship through: 

- e Worship - helping people focus on God and put Jesus at the centre of their life. 

- e Fellowship - helping to bring people into meaningful relationships with other Christians at Riverside and elsewhere for mutual encouragement, support, and prayer and to serve one another. 

- e Discipleship - helping people discover, grow and strengthen their faith in Christ by learning the truth of God's word and applying Biblical principles to their lives. 

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- e Ministry - helping people find and develop talents and gifts and to use them in serving, in a significant way, other people in the church and people outside the church. 

- e Evangelism - helping people fulfil their mission of reaching their friends, family, colleagues, networks and communities for Christ. 

## STRUCTURE, GOVERNANCE AND MANAGEMENT 

## GOVERNING DOCUMENT 

The organisation is a charitable company limited by guarantee, incorporated on 5 July 2002, merging previous charities Riverside Ministries Trust (charity number 327647) and Riverside Fellowship Trust (charity number 1046841). 

The objectives of Riverside Church Trust are defined in the Memorandum and Articles of Association and the Trustees ensure that the activities of the church always remain in line with these. 

## RECRUITMENT AND APPOINTMENT OF TRUSTEES 

- 

Trustees are appointed from the membership of the church following nomination and interview by members of the Board and the Senior Pastor. All trustees serve as Directors. 

## TRUSTEE INDUCTIONAND TRAINING 

The Company Secretary is responsible for the briefing and training of trustees, drawing on resources from the Trust's solicitors, accountants and other relevant organisations such as the Charity Commission and the Evangelical Alliance. We keep abreast of developments in charity law and policy through several charity bulletins and seminars available for trustees. Significant changes are worked through in detail. 

Trustees are provided with an induction pack introducing the legal requirements and responsibilities of trustees, and a comprehensive statement of the objectives, values and beliefs of the church. They are introduced to the financial and management arrangements of Riverside and supported in their role by the Chair and other Trustees. 

_ 

## ORGANISATIONAL STRUCTURE 

The Board of Trustees meet regularly throughout the year to provide support to the leadership team and oversee the direction of the church in keeping with the Objectives, approve budgets, receive management accounts, and determine significant policy. 

The day-to-day activity of the church is managed by a Church Leadership Team acting within responsibilities delegated by the Trustees. There is regular liaison between members of the team and Trustees. 

The Trustees are supported by a Finance and Risk Committees. Finance Committee consists of two Trustees, the Operations Director and other long-standing members of the church with appropriate experience and expertise. This team, acting within delegated responsibilities, reviews budgets, considers proposals for expenditure and makes recommendations to the Church Leadership Team and Trustees. 

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Much of the work of Riverside Church Trust is carried out by a large and willing body of volunteers who are engaged in every area of the church's ministry, without whom most of the aims of Riverside Church could not be delivered as they are now. No appropriate value can be attributed to this contribution, which therefore is not included in the financial valuation of the Trust. 

a ; 

## RISK MANAGEMENT 

We are Satisfied that we have systems in place to support giving, manage resources and hold an acceptable level of reserves. 

Trustees have established ‘Guardrails’ which provide early warning of financial exposure. They comprise minimum cash balances, together with limits on the proportion of income committed to staff costs. We also monitor levels of giving and other income. 

Our policy is that each year the Finance & Risk Committees review our Risk Register, which identifies the various risks to the church and considers the relative likelihood of those risks occurring. Where risks have increased, appropriate remedial action is initiated. 

Riverside has in place a Safeguarding Policy covering all our activities with children, young people and vulnerable adults. This policy has been developed and is reviewed in line with legal requirements and current practice. Staff and volunteers receive appropriate training and information and are subject to all necessary checks, e.g. via the Disclosure and Barring Service (DBS). The policy is reviewed annually by Trustees and updated as and when necessary. 

When employment legislation changes, our employment policies are reviewed, the changes are publicised to staff, and the staff handbook regularly updated. Given the nature of Riverside as a Christian church, we have a Christian Ethos Statement in place. 

As a Christian organisation, we aim to demonstrate the benefit we bring to our local and wider communities. Trustees have had due regard to guidance published by the Charity Commission on public benefit. 

## RELATIONSHIPS TO OTHER ORGANISATIONS 

The church is a member of the Evangelical Alliance and has working relationships with local churches in Moseley, Kings Heath, Bournville and other parts of Birmingham and across the UK. We run a weekly youth club in conjunction with Church of the Ascension, Stirchley. The church supports several people working overseas, through prayer, financial and logistical support. This is often facilitated through regular funding to those people through the organisations who support them. Closer to home we provide support and supervision for a cross-cultural community worker employed by Interserve. 

## HOW OUR ACTIVITIES DELIVER PUBLIC BENEFIT AND WHO HAS BENEFITED 

We've had encouraging feedback from community members regarding the various activities we run, with many finding our services helpful, especially during these difficult times. Riverside Church, Riverside Pantry, Open Lunch, and other services such as Stay & Play and Riverside 

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Money Advice have been a great benefit to the community, and we've seen a great number coming through our doors for assistance and a safe place. 

WORSHIPAND[PRAYER)] Our Sunday gathering is the primary occasion where we worship together, pray and fellowship as a wider family. 

However, our worship and prayer are not only what we express on a Sunday but our expression throughout the week. This includes our connect groups and all our other services that we provide at Riverside house during the week. 

We have begun to see the vision of our services coming to pass with some of those who attend our Money Advice service, Open Lunch, Café, and Pantry joining in with more faith-based activities such as our Sunday gatherings and Alpha - a course where one can learn more about the Christian faith. This has been our greatest desire; to provide both help and hope to those in the surrounding communities. 

iw” i 

## FELLOWSHIP AND PASTORAL CARE 

Over the last two years, we have developed a central pastoral hub of champions and chaplains supporting people pastorally in multiple ways both in church and across the community. Rahel, our new community chaplain, does a wonderful job befriending many people who come through our doors in our outward-facing initiatives. Toward the end of the year, she began a prayer initiative with our regular guests, which is very exciting. 

We have continued with our volunteer chaplaincy service to address the increased isolation and loneliness in our community. We have seen many more accept the invitation to Alpha because of building trusted relationships within the Hub chaplains and volunteers, with 15 people having completed the course. 

As part of more specific care, we continue to be a bereavement-friendly church. We offer The Bereavement Journey course each term, supporting many people who are dealing with loss in their lives. We have developed our pastoral care for the over 75-year-olds - a group now called Vintage - with a team doing visits and creating opportunities to gather together and celebrate life. 

We are offering more frequent baptisms and have seen a widening age range coming forward for Baptism which is wonderful. Last year we baptised 12 people in all. 

Children and Families’ ministries continue to grow. We have seen several new children and families come to church services, connect groups and other regular events. Our activities such as Stay and Play, ReAct (a holiday program run by Riverside Performing Arts), the Matilda performance and rehearsals and our children’s weekend away have all provided fantastic opportunities for families to find out more about God, the church and experience a sense of community. There is a beautiful culture of children from Riverside inviting their friends to Riverside events/ services. In May, Sarah Thomson handed over the ministry to Leah Wilson and Ella Wilkes. 

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Youth ministries continue to grow, this year seeing the highest number of young people consistently attending Friday night gatherings and at least 87 young people being regularly discipled. There is increasingly a culture of invitation in our groups and an emphasis on events being visitor-friendly which resulted in us welcoming 23 newly visiting youth in the second half of the year. We have around 30 of them serving at Riverside in some capacity on our worship, tech teams and in various other areas. Our youth ministry constitutes Riverside’s largest single area of discipleship. 

In April 2024 the Riverside Generations team produced four performances of Matilda the Musical Jr. at the Midlands Art Centre, following 7 months of rehearsals and relationshipbuilding. All shows played to sold-out audiences. The production was a huge success, but more importantly it provided a valuable opportunity to connect with children, young people, and families in the local community. A total of 64 children took part in the project, 29 of[whom][were] not previously involved with Riverside. Of these, 20 have since become involved in other Riverside groups including Friday night youth groups, children’s connect groups, and Sunday services with their families. 

## MISSION 

Julian Mander is now responsible for overseeing the mission work of Riverside Church. This has helped to manage the mission well and see the fruits of what they are achieving. 

Riverside Performing Arts (RPA) is seeing an increasing need for children to know they belong, and that there is a safe place for them to learn and thrive. Regardless of background or ability, hundreds have been welcomed into our half-term and summer clubs, with 60% of attendees coming from non-church backgrounds. Following 43 performances and 94 workshops this year, we pray in faith that all our children will continue to step into and embrace who they are, and all that God has made them to be, with boldness and joyful expectation. Riverside Money Advice (RMA) provides free face-to-face money advice and help to people who want to get their finances under control or to escape debt or poverty. Funding from the UK Government's Cost of Living Fund, and Birmingham City Council's Income Maximisation, Information, Advice and Guidance Fund, enabled us to sustain our capacity. We served over 100 people each month, with face-to-face support and chaplaincy help alongside. During this year we wrote off £245,000 of debt for 16 households and improved the financial circumstances of local households by an estimated £2.2m. The team comprises 29 people who are advisors, chaplains, befrienders, interviewers, administrators and café hosts. Riverside Pantry provides food and friendship to our local community. It continues to grow, now welcoming on average 50 customers each week. Open Lunch is running every week, serving a hot meal and bringing connection and Christian community to more and more people. 

Real Riverside Football Club is a men's 11-a-side open-age football team that competes in the West Midlands Christian League and the National Christian Trophy. Each season, over 30 players aged 16+ find authentic community, create deep friendships and play football together. We know as a team we can beat anyone on our day, but true success comesoff the pitch where we have seen players improve their mental health, positively restructure their personal lives and see first-hand what a faith in Jesus looks like. 

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ee 

## STAFF 

## Ce ee 

## we 

Since the covid pandemic there have been many changes in staff and organisational structure. In response to these changes, we have taken the opportunity to establish a new organisational structure, a revised employee handbook, strategies, policies and a renewed team culture. 

The staff of Riverside Church have adapted well, and we have observed a growth in confidence in all persons in leadership positions as well as those managing different our various services and projects. Staffing-wise, we are at capacity. 

## RIVERSIDE HOUSE 

## SO 

Riverside House, located at 21 Alcester Road, Birmingham, provides office and meeting space for all staff and many of our volunteers as well as hosting numerous events and activities. A large hall caters for services, meetings and social functions. A few smaller rooms also host activities. 

## FINANCIAL REVIEW 

While Riverside continues to hold a stable financial position, we, like many others, have been hit by the rise in inflation which means our bills were very high, and donors were in many cases not able to increase their giving for the same reasons. However, we continue to see God's goodness in large one-off gifts that have helped massively with the continuation of our ministries and community projects. 

## RESERVES POLICY — 

## eeet 

Our policy is to hold unrestricted cash reserves necessary to cover running costs for four months in the event of a major variation of circumstances. Reserves are monitored quarterly as part of our management reporting. 

## FUNDING SOURCES 

Riverside’s main funding source is through the kind donations of Riverside members who are part of our congregation - via standing order and direct debits and through our weekly offering within our services. 

We continue to apply for grants to fund projects and initiatives and have been successful in securing such funds for Riverside Money Advice and Riverside Pantry. Where grant funds are unrestricted and expended, these are accounted for as part of our general fund. 

## GOING CONCERN 

The Trustees are confident that the Charity can continue as a going concern for a period of at least twelve months from the date of approval of these financial statements. The Trustees have a reasonable expectation that the Charity has adequate resources to continue in operation for the foreseeable future. 

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Approved by the Board of Trustees on a ee. hee 2025 And signed on its behalf: 

\ ficken Vic. So 20 1 Name: Name: _________ 18 [05/2025 é3.[A] 

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

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial statements, the trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charities SORP; 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and 

- * prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. 

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

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## INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF RIVERSIDE CHURCH TRUST 

## OPINION 

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

In our opinion the financial statements: 

- give a true and fair view of the state of the charitable company’s affairs as at 31 August 2024, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- * have been prepared in accordance with the requirements of the Charities Act 2011. 

## BASIS FOR OPINION 

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

## CONCLUSIONS RELATING TO GOING CONCERN 

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

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

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

## OTHER INFORMATION 

The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. 

Page 13 of 28 



Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

We have nothing to report in this regard. 

## MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION 

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion: 

- the information given in the trustees’ report is inconsistent in any material respect with the financial statements; or 

- — sufficient accounting records have not been kept; or 

- the financial statements are not in agreement with the accounting records; or 

- we have not received all the information and explanations we require for our audit. 

## RESPONSIBILITIES OF TRUSTEES 

As explained more fully in the trustees’ responsibilities statement set out on page 12, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. 

## AUDITOR RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS 

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. 

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

The key procedures we undertook to detect irregularities including fraud during the course of the audit included: 

Page 14 of 28 



iC 

- Identifying and testing journal entries and the overall accounting records, in particular those that were significant and unusual. 

- Reviewed the financial statement disclosures and determining whether accounting policies have been appropriately applied. 

- Assessing the extent of compliance, or lack of, with the relevant laws and regulations. 

- Testing income, in particular cut-off, for evidence of management bias. 

- * Obtaining third-party confirmation of material bank balances. * Considered whether the going concern disclosure in the financial statements givesa full and accurate description of trustees' assessment of going concern. 

- Reviewed employment matters to ensure there is no potential fraud and that the payroll charge in the financial statements agrees to payroll records. 

- Reviewed resources expended to ensure these were in line with the charity's governing document and authorised by a responsible individual. , 

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities is available on the FRC's website at: https://www.frc.org.uk/auditors/audit-assurance/auditor-s-responsibilities-for-the-audit-of-thefi/description-of-the-auditor%E2%80%99s-responsibilities-for. This description forms part of our auditor's report. 

## USE OF OUR REPORT 

This report is made solely to the charitable company’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s truste@s as a body, for our audit work, for this report, or for the opinions we have formed. ? Ago N/ ia Horton FCCA (SeniorbarStatutory Auditor) 

For and on behalf of Sumer Auditco Limited, Chartered Accountants The Beehive Building Beehive Ring Road Gatwick Crawley United Kingdom RH6 OPA 

## Date: | G iv 4 los @e 

Page 15 of 28 



— 

## STATEMENT OF FINANCIAL ACTIVITIES 

## ei 

## For the year ended 31 August 2024 

||Notes|Unrestricted|Restricted|Restricted|2023/24|2022/23|
|---|---|---|---|---|---|---|
|income and endowments|||||||
|Income from generated funds|||||||
|Donations and legacies|2|838,471||74,084|912,555|605,507|
|Other trading activities|||||||
|Income from investments||12,457|||12,457|11,323|
|Income from charitable activities||33,548||43,162|76,709|128,292|
|Other income||||11,368|11,368||
|Grants Receivable|2|Z|--|166,868|=:<br>166,868|— 36,573|
|Total income and endowments||___- 884,475||295.482|1,179,957781,694||
|Expenditure on|||||||
|Charitable activities||(768,300)||(243,356)|(1,011,658)|(911,171)|
|Governance Costs||||ae|||
|Total Resources Expended|3|___(768,300)||(243,356)|(1,011,658) (911,171)||
|Net income/(expenditure)||116,174||52,125|168,299|(129,476)|
|Transfers between funds|||||||
|Net (outgoingyincoming resources|11/12|116,174|52,125‘168,299(129,476)|||(129,476)|
|Fund balances brought forwards||816,768||120,699|937,467|1,066,943|
|Fundbalancescarriedforwards||932,942||172,825|1,105,766|937,467|



Movements on reserves and all recognised gains and losses are shown above. 

The notes on pages 18 to 28 form part of these accounts. 

Page 16 of 28 




**----- Start of picture text -----**<br>
BALANCE SHEET AS AT 31 AUGUST 2024<br>**----- End of picture text -----**<br>


||Notes||2023/24||2022/23|
|---|---|---|---|---|---|
|FIXEDASSETS||||||
|TangibleAssets|6||457,884||479,414|
|CURRENT ASSETS||||||
|Debtors|7|19,794||24,085||
|Cash atbank and in hand||658,050||458 443||
|||677,843||482,528||
|CURRENT LIABILITIES||||||
|Creditors - falling due withinone year|8|(29,961)||(24,475)||
|NETCURRENTASSETS|||647,883||458,054|
|Totalassets less current liabilites|||1,105,767||937,467|
|NETASSETS|||1,105,767||937,467|
|FUNDS||||||
|Unrestricted|13|||||
|General||429,550||501,055||
|Designated||503,392||315,712||
||||932,942||816,767|
|Restricted|13||172,825||120,699|
||||1,105,767||937,466|



These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. 

The company was entitled to exemption from audit under section 477 of the Companies Act 2006 for the year ended 31 August 2024, although an audit has been carried out under section 144 of the Charities Act 2011. 

## Trustees’ responsibilities: 

- e The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. 

Approved by the Board of Trustees on_\“2__ S - 

2025 and signed on its behalf. 

Riverside Church Trust Company No: 04479264 


**----- Start of picture text -----**<br>
Ache _GE._O- hrwan a<br>Name: Name:<br>**----- End of picture text -----**<br>


Page 17 of 28 



NOTES TO THE FINANCIAL STATEMENTS os [FORSAG ee ecgTHESe GencoYEARara: Se ENDEDa Bike RM eeSe31aT AUGUSTesee Trish Pree 20240Up tee, nt) gpemerady ita RL Yae Ae pee eee LD Ss OE ORR Mea Te2 

## 1 ACCOUNTING POLICIES 

## (A) ACCOUNTING CONVENTION 

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts have been prepared in accordance with: 

- e 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) issued October 2019. 

- e the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) 

- e the Charities Act 2011 

- e the Companies Act 2006. 

The charity has applied Update Bulletin 1 as published on 2 February 2016. 

No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees' Annual Report. 

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. 

Riverside Church Trust meets the definition of a public benefit entity under FRS 102. 

## (B) INCOME 

Income from tax reclaims is included in the SOFA when due. All gifts and donations are accounted for on a receivable basis. 

Grants are recognised in the statement of financial activities when there is reasonable assurance that: 

- i) the charity will comply with the conditions attaching to them; and ii) the grants will be received 

Gifts received in kind are valued by the trustees at their approximate market value and included within income and expenditure. 

## (C) RESOURCES EXPENDED 

Expenditure is allocated to the particular activity where the cost directly relates. Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources. 

Administration and office overheads and other related expenses are apportioned between direct charitable activities. For each direct activity, its total of “Staff Costs” and “Direct Costs” as a percentage of the total resources expended is used for its share of apportioned costs. 

Page 18 of 28 



## (D)UNRESTRICTEDFUNDS 

These funds are available as general funds of the charity, which the Trustees are free to use in accordance with the charitable objects. 

## (E) RESTRICTED FUNDS 

These funds are to be used to specific purposes as laid down by the donor. 

(F) FIXED ASSETS 

Fixed assets are shown at cost. Items of a capital nature and costing in excess of £500 are capitalised. Depreciation is provided at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line basis over its expected useful life as follows: Land 0% per annum Freehold property 2% per annum Furniture and Equipment 20% per annum Office Equipment, Audio Visual equipment 25% per annum Vehicles 25% per annum 

## (G) PENSIONS 

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the financial statements in the period they are payable. 

## (H) FINANCE AND OPERATING LEASES 

Rentals applicable to operating leases are charged to the SOFA over the period in which the cost is incurred. Assets purchased under finance lease are capitalised as fixed assets. Obligations under such agreements are included in creditors. The difference between the capitalised cost and the total obligation under the lease represents the finance charges. Finance charges are written-off to the SOFA over the period of the lease so as to produce a constant periodic rate of charge. 

(1) IMPAIRMENT OF FIXED ASSETS 

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

(J) CASH AND CASH EQUIVALENTS Cash and cash equivalents include cash in hand and deposits held at call with banks. 

## (K) FINANCIALINSTRUMENTS 

## ne 

The charity has elected to apply the provisions of Section 11 “Basic Financial Instruments” and Section 12 “Other Financial Instruments Issues” of FRS 102 to all of its financial instruments. 

Page 19 of 28 



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

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

## (L) BASIC FINANCIAL ASSETS 

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

## (M) BASIC FINANCIAL LIABILITIES 

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

## (N) EMPLOYEE BENEFITS 

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Each term we check that employees are on track in booking annual leave and consider that this is adequate to ensure that no adjustment at year-end is required for our small number of employees. 

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

- 

## (O) POST BALANCE SHEET EVENTS 

We are not aware of any material events post-balance sheet that require disclosure, 

Page 20 of 28 



(Ca 

## 2 ANALYSIS OF INCOME 

|Donations and legacies|Unrestricted|Unrestricted||Restricted|Restricted|Total|Total||
|---|---|---|---|---|---|---|---|---|
|||Funds||Funds||2023/24||2022/23|
|||£||£|||£|£|
|Donations||750,672||62,455||813,127||518,598|
|HMRC Gift Aid Rebate||87,799||11,629|||99,428|86,909|
||£|838,471|£|74,084||£<br>912,555<br>£||605,507|
|Grants Receivable||Unrestricted|||Restricted||Total||
||||Funds||Funds||2023/24|2022/23|
||||£|||£|£|£|
|BCC CelebratingCommunities|||||£|2,000|2,000||
|BCC Food Pantry Grant|||||||-|7773|
|BCC Income Maximisation IAG Funding|||||£|48,276|48,276||
|BCCWarm Welcome 2023|||||£|2,500|2,500|500|
|BCC Wellbeing Hub Grant|||||£|3,000|3,000||
|BCC Winter Food Aid Fund|||||£|5,000|5,000||
|Cornerstone|||||||-|15,000|
|Deo Gloria Trust Grant||||||1,500|1,500||
|E C Oldham Charitable Trust||||||500|500||
|Grantham Yorke Trust Funding|||||||-|4,000|
|Heinz Grant|||||||-|300|
|Maydwell Trust||||||250|250||
|National Lottery Community Fund||||||73,842|73,842||
|NDSU Grant|||||||-|6,000|
|Trustees of the<br>G E GEE Trust||||||30,000|30,000|3,000|
|||||-|166,868||166,868|36,573|



Page 21 of 28 



Cc 

## 3 ANALYSIS OF EXPENDITURE 

|||||2023/24|2022/23|
|---|---|---|---|---|---|
||Direct|StaffCosts|Apportioned|Total|Total|
|General Funds|£|£|£|£|£|
|Pastoral|15,908|288,367|25.049|329,324|284,807|
|Generations|37,159||3,059|40,218|97,758|
|Academy|306||25|332|11,078|
|Worship Gatherings|36, 167||2.977|39,145|100,672|
|Facilities|163,578|86,739|20.607|270,924|152,026|
|Designated Funds||||||
|Community Projects|73,083|9,837||82,921|94,301|
|Real Riverside|4.715|||4,715||
|Restricted Funds||||||
|Gifts being passed on|2,944|||2,944|5,991|
|Money Advice|59.075|60.937||120,012|77,952|
|Performing Arts|10,269|72.777||83,046|68,092|
|Pineapple Youth Project|3,429|||3,429|2,956|
|Interserve|7,012|||7,012||
|Pantry Project|15,320|12,317||27,636|15,413|
|Other Projects|||||124|
||428,966|$30,973|$1,718|1,011,658|911,372|



NB Administration costs are apportioned among General Fund cost headings in proportion to the total of direct and staff costs for each ministry. 

Page 22 of 28 



Cc 

Total giving including gifts passed on was £58,477 (2023: £65,838). The table below analyses giving by category. 

|Analysis ofGivingtoOthers||2023/24|2022/23|
|---|---|---|---|
|||Total|Total|
||>a|£|£|
|Individuals in theUK||||
|Mike and Rachel Hill|4,236|||
|Discretionary Gifts (under £500)|2,770|||
|||7,006|14,713|
|Individuals - International||||
|EmmaThomas|7,971|||
|Steve Jones|2,112|||
|||10,083|11,947|
|Organizations in the UK||||
|Interserve|9,330|||
|Cana Trust|3,337|||
|ICY Ministries|5,245|||
|Agape|6,336|||
|The FeastYouth Project|600|||
|Evangelical Alliance|440|||
|Samaritan's Purse (Libya Flooding)|1,000|||
|MoseleyChurchesTogether|195|||
|ChaplaincyPlus|300|||
|EngageWest Midlands|3,000|||
|Fusion|100|||
|Premier Christian Radio|180|||
|Tearfund (Gaza Support)|1,000|||
|Bible Depot|500|||
|Bible Project|308|||
|international Organizations||31,872|27,289|
|Open Doors|2,112|||
|Operation Mobilisation|2,112|||
|Scriptural Knowledge|5,292|||
|||9,516|11,889|
|||58,477|65,838|



Page 23 of 28 



## 4 STAFF COSTS 

||2023/24|2022/23|
|---|---|---|
||£|£|
|Wages and salaries|470,635|407,803|
|Social security costs|37,903|32,592|
|Pension|22,435|19,920|
||530,973|460,315|



The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost represents contributions paid by the company to the fund. 

No employee earned more than £60,000 per annum. 

Average number of employees (calculated on an average full time equivalent basis) 

||2023/24|2022/23|
|---|---|---|
|Direct charitable work|10|9|
|Administration|________<br>4|________<br>4|
||nen|‘Setitlnasbaceete|



## 5 TRUSTEES’ REMUNERATION AND EXPENSES 

No remuneration was paid or payable for the year to any Trustees for their role. See note 10 for related party transactions. 

Page 24 of 28 



iC 

6 TANGIBLE FIXED ASSETS 

|||||||Office and||
|---|---|---|---|---|---|---|---|
||Freehold<br>Property||-<br>NOUS||Furniture &<br>Equipment|Audio<br>Visual|ie|
|||||||Equipment||
||£||E||£|a|£|
|COST||||||||
|At 31 August 2023|789,387||17,280||22,946|71,321|900,934|
|Additions||-||-|11,162|2,323|13,485|
|Disposals||-||-|-|-|-|
|At 31 August2024|789,387||17,280||34,108|73,644|914,419|
|DEPRECIATION||||||||
|At 31 August 2023|342,535||17,280||13,554|48,152|421,520|
|Charge forthe year|13,788|||-|5,420|15,806|35,014|
|Eliminated on disposal||-||-|-|-|-|
|At 31 August 2024|356,322||17,280||18,974|63,959|456,535|
|NETBOOK VALUES||||||||
|At 31 August 2023|446,852|||-|9,393|23,169|479,413|
|At31August2024|433,064|||-|15,134|9,685|457,884|



Included within the freehold property cost is £100,000 relating to freehold land, which is not depreciated. 

## 7 DEBTORS 

||2023/24|2022/23|
|---|---|---|
||£|2|
|Prepayments|9,094|13,007|
|Other debtors|3,113|3,934|
|HMRCGiftAid|7,587|7,144|



Page 25 of 28 



Ce 

## 8 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 

|||2023/24|2022/23|
|---|---|---|---|
|||£|£|
|Payroll Liabilities|- HURC PAYE|8,768|7,529|
|Accounts Payable||9,335|11,846|
|Governance||8,000|5,100|
|Deferred Income||3,858|-|
|Other||=|cs|
|||29,961|24.475|



Aggregate amount of secured liabilities ENone (2022 £None) 

## 9 OBLIGATIONS AND COMMITMENTS 


**----- Start of picture text -----**<br>
CAPITALCOMMITMENTS sss<br>**----- End of picture text -----**<br>


Contracted for but not provided: 31 August 2024 £ None, (31 August 2023 £ None) 

## 10 RELATED PARTY TRANSACTIONS 

No related party transactions took place in the year. 

## 11 TAXATION 

The charity is exempt from corporation tax on its charitable activities. 

Page 26 of 28 



(Cd 

|12<br>CASH FLOW STATEMENT|||
|---|---|---|
|Cash flow statement|||
||2023/24|2022/23|
||£|£|
|Cash generated from operatingactivities:|||
|Netcashprovidedby(usedin)operating activities|200,633|(112,940) Table 1|
|Cash flows from other sources:|||
|Interest from investments|12,457|11,323|
||213,090|(101,617)|
|Application ofcash:|||
|Purchase ofproperty, plantand equipment|(13,485)|(21,853)|
|Purchase of investments|-|~|
|Repayments of borrowing|-|-|
||(13,485)|(21,853)|
|Net increase/(decrease) incash:|199,605|(123,471)|
|Cash atbank and in hand less overdrafts at the beginning ofthe|458,443|581,914 Table 2|
|Cash at bankand in hand less overdrafts at end oftheyear|658,049|458.443|
|Table 1: Reconciliation ofnet income/(expenditure) to net cash|||
|flowfrom operating activities|||
||2023/24|2022/23|
||£|£|
|Net income/(expenditure) (as perthe statement offinancial acti|168,299|(129,476)|
|Adjustments for:|||
|Depreciation charges|35,014|35,493|
|Interestfrom investments|(12,457)|(11,323)|
|Loss/(profit) on the sale of fixed assets||4217|
|({Increase)/decrease in debtors|4,291|3,954|
|increase/(decrease) in creditors|5,486|(15,805)|
|Netcash provided by (used in) operating activities|200,633|(112,940)|
|Table 2: Analysis ofcash at bankand in hand lessoverdrafts|||
||2023/24|2022/23|
||£|£|
|Cash at bank and inhand atthe beginning ofthe year|458,443|581,914|
|Overdrafts included in bank loans and overdrafts falling due|||
|within one year|-|-|
||458,443|581,914|



Page 27 of 28 



(Ce 

## 13 UNRESTRICTED AND RESTRICTED FUNDS, AND FUND MOVEMENTS 

||At 31|August 2023|Movements in|At 31 August 2024|
|---|---|---|---|---|
|||£|=|£|
|General Funds||501,055|(71,506)|429,550|
|Designated Funds||315,712|187,680|503,392|
|Restricted Funds|At 31 August 2023||Movements in|At 31 August 2024|
|||.|£|£|
|Riverside Money Advice||43,941|56,730|100,671|
|Free advice service|||||
|Riverside Performing Arts||56,281|(13,125)|43,157|
|Christian drama group|||||
|Pineapple Youth Project||5.311|(2,239)|3,072|
|Youth work on the Pineapple|Estate||||
|Restricted Funds||1,264|1,829|3,093|
|Small gifts to missionaries|||||
|Riverside Pantry||13,903|8,929|22,832|
|Food pantry service|||||
|Total|||||



## 14 ANALYSIS OF NET ASSETS BETWEEN FUNDS 

Fund balances at 31 August 2024 are represented by: 

||Unrestricted|Restricted||
|---|---|---|---|
||funds|Funds|Total|
||£|£|E|
|Fixed Assets|457 884|0|457,884|
|Other net assets|14,610|5,183|19,794|
|Cash|484 286|173,764|658,050|
|Liabilities|(23,838)|(6,123)|(29,961)|
||932,942|172,825|1,105,767|



## 15 LEGAL STATUS OF THE CHARITY 

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding-up is limited to £1. 

## 16 CONTROL 

There was no controlling party during the year. 

Page 28 of 28