Registered number: 04964286 Charity number: 1101080 THE FORGE COMMUNITY CHURCH (A company Ilmited by guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE FORGE COMMUNITY CHURCH (A company limited by guarantee) CONTENTS Page Reference and admlnlstrative detalls of the Company. Its Dlrnctors and advisers Trust8e8' report Trustees. responsibllitles Statement Independent examinerfs report Statement of flnanclal actlvltles Balance sheet 10-41 Notes to the flnanclal statements 12-24
THE FORGE CQMMUNITY CHURCH (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DEfAILS OF THE COMPANY, ITS DIRECTORS AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 Dlrectors Oliver Westmancott, Chair Sarah Cobbold (appolnted 15 July 2024) Alison Colchester. Chair (resigned 15 July 2024) stephen Fenning stephen Urwn Michael Walsh Company reglstered number 04964286 Charity reglstered number 1101080 Registered offlce The Old Chapel, FoTward Green, Stowmarket, Suffolk, IP14 5HP Company secretary Neil Serjeant Indop•ndent examlners Larking Gowen LLP. 1 Claydon Business Park, Great Blakenham, Ipswich. IP6 ONL Bankers Barclays Bank PLC. 14 Market Hill, Diss, Norfolk, IP22 4JU Page 1
THE FORGE COMMUNITY CHURCH IA company Ilmited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Directors present their Annual Report together with the Financial Statements of the Charity for the year ended 31 December 2024. The Annual Repjrt serves the Purposes of both a Trustees, report and a Directors, report under company law. The Directors confirm that the Annual Report and Financial Statements of the Gharitsble company comply with the current statutory requirements, the requirements of the chariable companls goveming document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities prepanng their a(xounts in aco)rdance with the Financial Reporting Standard applicable in the UK and Rewblic of Ireland {FRS 102) (effective l January 2019). Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic rep)rt required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors, Report) Regulalion 2013 has been omitted. 1. Governance & Constltutlon The Forge Community Church ('The Forge.) is Christian church operating in mid Suffdk. It is a registered charity and a company limited by guarantee. It is govemed by Its Articles of A$slatIOn which were revised and approved by the Charity Commission on 9 December 2021 and fomially adopled by members on 22 November 2022. The spin'tual leadership of the church is provided by the Elders. The Elders are appointed by the Elders and also serve as Trustees of the charity and Directors of the limlted company. The Forge employs a staff team to which is delegated the day-ti>day running of the church. The Senior Leader is apFoinled by the Directors. Other staff are appointed by the Senior Leader in consultalion with the Diredors. During 2024, the church employed 9 paid stsff and 2 volunteer staff members. Not all of these were employed all the time, and several of these are part time, and the average Full Time Equivalent headcount was 6.0 paid and 0.8 unpaid. which 18 the same as 2023. The Directors have established 4 teams to assist them in the exercise of their responsibilities. The Finance Team provides scrutiny, challenge and sUPPOrt in financial management and budgeting. The People Team scrutinises and supports on people issues, including recruitment and selection. perfomance reviews, pay scales, policies and procedures. The Compliance Team oversees statutory and legal compliance, for example Health & Safety and risk review. It is, in tum. supported by a dedicaled Safeguarding Team who ensure children and vulnerable adults are kept safe. The Elders provide spiritual oversight. Each team provides a regular report to the board whenever it meets. The charitable objects of The Forge are to.. A) Advance the Christian faith in accordance with the Statement of Beliefs appearing in the Schedule hereto in the county of Suffolk and in such other parts of the United Kingdom or the world as the Directors of the Charity (herein called the Trustees) may from time-to-time think fit and to fulfil such other purposes which are exclusively charitable acojrding to the law of England and Wales and are connected with the charitable work of the Charty. Bl Relieve persons who are In condib'ons of need or hardship or who are aged or sick and to relieve the distress caused thereby in the said Icration and in SUGh other parts of the United lQ'ngdom or the worfd as the Trustees may from time-to-time think fit. Page 2
THE FORGE COMMUNITYCHURCH (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 2. Mission and Vision The Forge seeks to fulfil its charitable objects through its mission to help people find and follow Jesus. Its vision is to be a church community that unchurGhed people love to be part of. It seeks to be known, involved and helpful in its local community. With dedicated public actlvlties for adults, young people and children. The Forge has continued to strive to create loving and supporbve community of people aligned wilh the person and teaching of Jesus Christ and encouraging people always to identity and take the next step in their joumey of faith. It has continued to do this in a way that places no unnesSary hindrance to anyone of any background from participabng in our activities and becoming part of the church. We constanuy monitor our programme, language and approach to ensure we are accessible to anyone and everyone. We intentionally gave away around 15% of our income to support those in need l¢)cally and Sntemationally, operating in partnership wth other agencies and chanties. The Forge works in partnership wth other churches in the UK and Ireland with similar mission and vision. This partnership is demonstrated tangibly in our membershlp of the Further Faster Network. The Forge is also a member of the Evangell¢al Alliance. 3. Actlvltles for Public Benefft, Achlevements and Perfomiance People's adherence to the church continues to be more fluid and less attendance-focussed than it was 10 years ago. However, the Forge was pleased to see an increase in average Sunday attendance. The Forge Is making a deren in people's lives. We believe a relationship with Jesus Christ makes a person's life better and make8 them better at life. 17 people were baptised in 2024. publicly signity'ng that they had found and begun to follow Jesus. 39 people attended Apha courses which provide an opportunity to explore Christj'anity and faith. Sundays Numbers at all gatherings - 'd8, youth and adults - were van'able, but the trend over the year was, once again, of steady growth in numbers. confidence and enthusiasm. Adult numbers started at around 170 and regularly exceeded 180 by the end of the year. Our Christmas attendan was 550 people over 4 servi8 held on 15 DeMber. 'dS and Youth saw attendance fluctuating between 30 and 50 per week. 60 young people attended youth residentials in February and October. The youth congregation in particular is rebuilding following the departure in October of a number of older leenagers to university or the adult congregation. We're really pleased to have a significant contingent of older teenagers present at Sunday services. seNing and giving, and a midweek group for young adults is flourishing. A number of children with addttional nee¢Js attend. We have modified our environments better to suit their needs and have recruited additional volunteers wth the skills and experien needed to ensure we provide a safe and happy experience for everyone. We continue to publish a podcast recorded in the live service of the adult Sunday service talk. and we continue to be active on social media. Page 3
THE FORGE COMMUNITY CHURCH (A company Ilmited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Local Community The Forge continued to support the local community in which it is based.. During 2024 the Fumiture Bank made almost 300 deliveries of furniture to households in need. This had a direct impact on more than 500 peopl8. The Moses Project provided 248 Moses baskets. the financial value of which was around £20,000. providing vulnerable mothers with essential items for Iheir new-born baby. The equivalent in 2023 was 193 baskets. Through our hardship fund we were able to give one off grfts totalling £20,000 to 101 households in need. This provided white goods, school unrforyn, heating oll. and transport Gosts. 1.9 tonnes of food was distributed to the Parish Pantry through our partnership with Fareshare. The Away in a Hamper scheme at Christma8 provided a fvll Christmas dinner to 479 people. In collaboration with Debenham High School, The Forge swtched its community youth provision to after school activib'es for young people who would othenNise return to an empty home. We provide a safe environment, activities and food. The Forge continued to provide chaplalncy support for sludenis at Debenham High Scho. 700 students engaged with our Prayer Space at the beginning of the Spring Term The Forge also engaged with Prlmary Schools in Stonham Aspal and Debenham, taking assemblieg and reading with children. Our Holiday Club in August saw 80 youngsters attendlng. most of whlch are not otherwise associated with the church. Easter and Christmas activilies for children were also well-supported by familie8 in and around Debenham. Group• The church Continues to believe that personal growth happens best in small groups. Around 180 people participated in a 10-week or 10_month group. Of these some were focussed on providing community for participants others more on practical leaming or a shared interest such as creative writing. Groups meet in person andlor online. The church is encouraged by powerful stories of people finding support and friendship in groups a8 they have done life togelher, helpin9 them to cope with the ups and downs of life. Motson, our offering for teenagers, indudes hang)ut groups as an integral part of their acttvity, providing young people with a safe place to build Iriendships and ask questions. Volunteers The church is heavily dependent on its volunteers. Group Leaders provide leadership and pastoral support. Our in-person gatherings rely on the willingness of our volunteers who have provided set up and pack down, hospitality, welcome. sound and light, music and have worked with our kids and youth. In so doing these volunteers provide public benefrt, but also receive benefiL findin9 satk%faction, friendship. and support through serving. Numbers At the end of the year. in excess of 300 adults were registered on our church management system and would call The Forge their home. Page 4
THE FORGE COMMUNITY CHURCH (A company Ilmited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 4. Financial Review Surplu8 and Reserves The Charty reported a deficit of £24,483 (2023.. £23.203) on general funds and a surplus or £8,375 (2023: £37,002) on restricted funds. giving a net deficrt for the year of £16.106 (2023.. surpuls of £13.799). The Directors agreed a minimum reseNes position for the year expressed as a minimum cash balance on general funds of £46,000. At year end the cash balance was £42.500. The Directors had approved this level of cash reserves having reviewed slower than expected growth in income. an agreed plan to recover income in 2025 and unbudgeted expenditure in respect of a planning application (see below). The Charity carried fOard total reserves of £243,87912023." £259,987) of which £187.549 (2023". £212.0321 is unrestricted. H()wever. of this £169.731 12023.. £177,678) is tied up in tangible fixed assets. Free regerves are £17,818 (2023.. £34.354), with an additional £56,330 (2023. £47,955) in restricted funds. The Directors had approved a level below the minimum set having reviewed slower than expected growth in inGome, an agreed plan to recover income in 2025 and unbudgeted expenditure in respect of a planning application {see below). The Directors approved a budget for 2025 Nthich shows an £3,247 surplus. The Diredors remain cognisant of some risks to income for example budgeted orowth in regular donations to the church, the targets for Gift Month and Fundraising incL)me, and securing grant funding for some existing staff costs - and wish to have SLrfficient additional reserves temporarily to ctver any shortfalls. Income and Expenditure At £439,746 (2023.. £404,103) income was 9% higher than 2023. he churd7 saw slower than expected growth in regular income, but saw a POSFtive response to ils Giving Month campaign. Further, it secured restricted funding to support its community projects, particularly Fumiture Bank arKI the Moses Project. Expenditure at £455,854 (2023.. £390.304) rose faster than income and reiiecting the costs of renting a gmall warehouse for the Moses Project and the Furniture Bank. The directors also decided to apply for planning permission to convert its 2 existing freehold buildings for residential use wth a view subsequently to selling the premises. This increased in year cost8 by around £10,000. This report has been prepad taking advantage of the small companies exemption of Part 15 of the Companies Act 2006. Approved by order of the members of the board of Trustees and sloned on their behalf by. Oliver Westmancott (Chair ot Trustees and Directors) Date: 20 /,/so', Page S
THE FORGE COMMUNITY CHURCH (A company limited by guarantee) STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2024 The Tru8tees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees, report and the financial statements in accordan with applicable law and United Kingdom Ac(xsuntlng Standards (United Kingdom Generally Apted Accounting PraGtlce). Company law requires the Trustees to prepare financial Statements for each financial . Under MpanY law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the slate of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure. for that period. In preparing these financial statements, the Trustees are required lo.. select surtable accounting policies and then apply them consi5tently- obseNe the methods and pnnciples of the Charities SORP IFRS 102)" make judgments and accounting estimates that are reasonable and prudent; state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The Trustees are responslble for keeping adequate acGounting records that are sufficient to show and explain the CoMpanS transactions and disclose wrth reasonable accuracy at any time the financial position of the Company and enable them lo ensure that the financial Ststements comply with the Companie8 Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable step8 for the prevenb'on and detection of fraud and other irregularits'es. Approved by order the members of the board of Trustees and signed on its behalf by.. Oliver Westmancott (Chair of Trustees and Directors) Page 6
THE FORGE COMMUNITY CHURCH (A company Ilmited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Independent examlner's report to tho Trustees of The Forge Communlty Church (Iho Company) I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 December 2024. Responsibililies and basis of report As the Trustees of the Company land its directors for the purposes of wmpany law) you are responsible for the preparation of the accounts in accordanGe with the requirements of the Companies Act 2006 (Ihe 2006 Act.). Having satisfied myself that the acrAJunts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for ind8pendent examinats'on, I report in respect of my examination of the Company's accounts carried OLrt under section 145 of the Charities Act 2011 ('the 2011 Acl,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145{5)Ibl of the 2011 Act. Independent examlner's statement Since the Companvs gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. l Confirm that l am qualified to undertake the examination because l am a member of Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connectlon wth the examination givlng me cause to believe- aCUnting records were not kept in respect of the Company as required by section 386 of the 2006 Act,. or the accounts do not accord with those records,. or the accounts do not comply with the accounts'ng requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination- or the accounts have not been prepared in accordance wth 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. Page 7
THE FORGE COMMUNITY CHURCH (A company Ilmited by guarantee) INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 This report is made solely to the Companvs Trustees, as a body. in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might stste to the Company'8 Trustees those matters l am required to state to them in an Independent examinerfs report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Companws TTUStees as a body, for my work or for this report. Signed: Dated.. 28 August 2025 Christopher Yeates FCA DChA Larklng Gowen LLP Chartered ACUntants Ipswich Page 8
THE FORGE CQMMUNITY CHURCH (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted lunds 2024 Restrfeted funds 2024 Total tunds 2024 Total funds 2023 Note Income from". Donations and legacies Charitable activities Investments 355,574 7,739 1.195 57.638 17,600 413.212 25,339 1.195 389.273 14,007 823 Total income 364,508 75,238 439,746 404,103 Expendlture on: Chartsble activities 388,991 66,863 455,854 390.304 Total expenditure 388.991 66,863 455.854 390.304 Net movement In funds 124.483) 8.375 116.108) 13.799 Roconciliatlon of funds: Total funds brought ford Net movement in funds 212,032 (24,483) 47,955 8,375 259,987 (16,108) 246,188 13, 799 Totsl funds carrled forward 187,549 56,330 243,879 259.987 The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 12 to 24 form part of these fi'nanGial statements. Page 9
THE FORGE COMMUNITY CHURCH (A company limited by guarantee) REGISTERED NUMBER." 04964286 BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Note Flxed assets Tangible assets 11 169,731 177.6T8 169,731 177.678 Current assets Debtor8 Cash at bank and in hand 12 10,872 99,782 9.380 115.485 110,654 124.865 Credrtors: amounts falling due within one year 13 (36,508) (42,556) Net current assets 74,148 82.309 Total assels less current Ilabilities 243.879 259.987 Total net assets 243,879 259,987 Charlty funds Restricted funds Unrestricted funds 14 14 56.330 187,549 47.955 212.032 Total funds 243,879 259.987 Page 10
THE FORGE COMMUNITY CHURCH (A company limited by guarantee) REGISTERED NUMBER: 04964286 BALANCE SHEET (CONTINUED} AS AT 31 DECEMBER 2024 The Company was enkn'tled to exempb'on from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in aco)rdance wth the provislons applicable to enlities sub}ect to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. Ollver Westmancott (Chair of Trustees and Directors) Date: Qol The notes on pages 12 to 24 form part of these financial statement8. Page11
THE FORGE COMMUNITY CHURCH IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 General information The Forge Community Church is a company limited by guarantee incorporated in England and Wales. registered number 04964286. The registered office is The Old Chapel, Forward Green, Earl Stonham, stowmarket. Suffolk, IP14 5HP. Accountlng policies 2.1 Basls of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities.. Statement of Recommended Pra¢ts'ce applicable lo charrties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard appllcable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The Forge Community Church meets the definition of a public benefit entrty under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the r8levant accounting policy. 2.2 Golng concern The Directors have nsidered the Charity's position at the time of signing the financial statements, and in particular the Charills forecasts and projections alongside its current financial posits'on and cash available. Based on this, the Directors have a reasonable expectation that the Charity will have adequate resources to continue in operational existence for the fore8eeable future and at least Iwelve month8 from the date of signing these financial statements. they therefore continue to adopt the going concem basis of accounting in preparing these financlal statements. 2.3 Income All income is recognised once the Company has entitlement to the income, 11 Is probable that the income will be received and the amount of income receivable can bè measured reliably. Income tax recoverable in relation to donations received under Gift Aid or deeds of CL*venant is regniSed at the time of the donation. Page 12
THE FORGE COMMUNITY CHURCH (A Company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ounting poll¢les (contlnued) 2.4 Expendlture Expendrture is recognised On there is a legal or constructive obligation to transfer economic benefit to a third paty. it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared o)sts, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activty. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activrties on a basis consistent with the use of resour$. Central staff costs are allocated on the basis of 'ffle spent, and depreciation charges allocated on the portion of the asset's use. Expendire on charitable activities is inc#Jrred on dIre[Y undertaklng the activltles whlch further the Companvs objectsves. as well as any associated support costs. Support StS are those costs Incurred directly in support of expenditure on the objects of the company and indude project managemenl carried out al Headquarters. Costs of generating funds are costs incurred in attracting voluntary income. and those incurred in trading activities that raise funds. Charitable activities and Governance costs are costs incurred on the companys operations, including SUPFQrt $ts and c08ts relating to the governance of the company apportioned to charitable adivities. Grants payable are charged in the year when the offer 18 made except in those casès where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subjeGt to conditions which have not been met at the year end are noted as a CL)mmitment. but not accrued as expenditure. 2.5 Government grants Government grants relating to tangible fixed assets are treated as deferred income and released to Ihe Statement of financial activitses over the expected useful lives of the assets conrned. Other grants are credited to the Statement of financial activitie8 as the related expendire is incurred. 2.6 Interest receivable Interest on funds held on deposit is included when re1vable and the amount can be measured reliably by the Company., this is normally upon notificab'on of the interest paid or payable by the Bank. Page 13
THE FORGE COMMUNITY CHURCH (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 counting pollcles (contlnued) 2.7 Tanglble fixed assels and depreciatlon All assets are capitalised rf they can be used for more than one year. A review for impairment of a fixed asset is carried out if event8 or changes in Circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortralls beiween the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Ststement of financial activities incorporating income and expenditure account. Tangible flxed assets are Garried at 81, net of depreGlatlon ancl any provlslon for Impalrmenl. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their ests'mated residual value. over their expected useful lives on the following bases.. Fixtures and fittings 25% Reducing balance No depreciation 18 charged on the land and freehold property. 2.8 Deblors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.9 Cash at bank and In hand Castt at bank and in hand includes cash and short-term hlghly Ilquld Investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.10 Llabilities and provisions Liabilitr'es are recognised when there is an obligation at the Balance sheet date as a result of a past event. it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement be estimated reliably. Liabilities are re¢ognised at th• amount that the Company antlclpates it will pay to settle the debt or the amount it has received as advanced paymant$ for the goods or 80rvice8 it mugt provide. Provisions are measured at the best estlmate of the amounts required to settle Ihe obligation. Where the effect of the time value of money is material. the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects Ihe risks specific to the liability. The unwinding of the discount is re(x)gnised in the Statement of financial activities as a finance cost. 2.11 Financial instruments The Company only has financial assets and financial liabilities of a kind that qualify as basic financial Instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cosi using the effective interest method. Page 14
THE FORGE COMMUNITY CHURCH (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 DECEMBER 2024 Accounting pollcies {contlnued) 2.12 Penslons The company operates a defined contribution penslon scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year. 2.13 Fund accounting General funds are unrestricted funds vthich are available for use at the discretion of the Trustees in fijrtherance of the general objectives of the Company and which have not been designated for other puOses. Restricted funds are funds which are to be used in acrdance with specifiG restrictions imposed by donors or whith have been raised by the Company for particular purposes. The costs of raising and administering $u¢h funds are charged against the specthc fund. The aim and use of each restricted fund is Set out in the notes to the finanGial statements. Income from donations and legacies Unrèstricted Restrlct funds funds 2024 2024 Total funds 2024 Tot81 fvnds 2023 Donations Contribution to mission trips and activities 331,968 23,606 54,594 3,044 386,562 26,650 387,289 1.984 355,574 57,638 413,212 389.273 Total 2023 335.266 54.007 389.273 Page 15
THE FORGE COMMUNITY CHURCH (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Income from charitable activities Unrestricted Restricted funds funds 2024 2024 Total lunds 2024 Total fvnds 2023 Church activities Other grantB 7.739 7.739 17,600 1.407 12.6t)O 17,6CKJ 7,739 17,600 25,339 14.OOT Tot812023 1.407 12.600 14.007 Investment Incom• Unrestrfcted tunds 2024 Totsl lunds 2024 Total fvnds 2023 Investment income 1,195 1.195 823 Total 2023 823 823 Anatysis of expendlture by actlvities Actlvities undertaken directly 2024 Grant fundlng of activities 2024 Support costs 2024 Total funds 2024 Total ftinds 2023 Church activrties Mission payments 262,746 18.000 48,998 123.542 2,568 404,288 51,566 356,044 34.260 262,746 66,998 126.110 455.854 390.304 Tot812023 229. 139 52.216 108,949 390,304 Page 16
THE FORGE COMMUNITY CHURCH (A Company limfted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysls of expendlture by activities {contlnued) Analysis of dlrect costs Church activitles 2024 Total funds 2024 Total fvnds 2023 staff costs Volunteer costs Motor and travel Staff development and recruitment Bank interest and charges other direct costs 220,912 677 20,081 8.239 1,001 13,836 220,912 677 20,081 6.239 1,001 13,836 206,032 1,164 16.617 2,007 1.110 2.209 262,746 262,746 229.139 Total 2Q23 229,139 229, 139 Page 17
THE FORGE COMMUNITY CHURCH IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysis of expendlture by activities (contlnued) Anatysls of 8UPPOrt costs Church actlvltles 2024 Mlsslon Payments 2024 Total lunds 2024 Totsl funds 2023 Depreciation Bwks and materials Refreshments Equipment Mission trip support cost6 Hall hir6 Water Insurance Light and heat Telephone Repairs and maintenance Subscriptions Advertising Independent examinels fee Legal and professional fees Charity donations Visiting speakers Events and outings servIs bought in Office expenses Bad debt 12,597 4.150 12,060 6,953 12.597 4,150 12,060 6,953 2,588 37.882 321 11.763 5,094 4,032 6. 733 44 29.948 129 3.509 812 2.000 6,614 5,989 292 3,180 3,500 2,676 1.150 3.004 8,690 9.511 279 2,568 37,882 321 5,816 3.843 2,284 4,893 4.514 680 3,360 8,903 5,816 3,843 2,284 4,893 4,514 680 3,360 8,903 250 2,147 8.712 4,177 250 2,147 8,712 4.1TI 123.542 2,568 126,110 108,949 Total 2023 108.905 108,949 P2ge 18
THE FORGE COMMUNIry CHURCH (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Anaty318 of grants Grants to Grants to Institutions Individuals 2024 2024 Total lunds 2024 Total funds 2023 Church activities Mission Panents 18.000 16,930 18,000 48.998 18,000 34,216 32.068 34.930 32,068 66,998 52,216 Total 2023 30,112 22,104 52,216 Independent examiner's remuneration 2024 2023 Fees payable to the Companys independent examiner for the Independent examination of the Companys annual ace))unt8 3,360 3,180 Staff costs 2024 2023 Wages and salaries Social security costs Contribution to defined ntributiOn p8n8ion s¢hem65 202,136 12,972 5,804 189,272 11.179 5,581 220,912 206.032 The average number oi persons ernployed by the Company during the year was as follow8: 2024 No. 2023 Employees 10 No employee reiVed remuneration amounting to more than £60.000 in either year. Total key managemenl personnel o)mpensation for the year (including employer pension contributions) was £33.581 (2023- £31.689), plus the related National Insuran amounting to £3.225 (2023 - £2,971). Page 19
THE FORGE COMMUNITY CHURCH (A company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 10. Trustees. remuneration and expenses During the year, one Director has been paid remuneralion or ha5 reGeived other benefits from an employment with the Company. Remuneration has been paid to the Director in the role as Senior Leader. The Director has b&n paid under the provision included in the the governing document of the charity. 2024 2023 Stephen Fenning Remuneration Pension contributions paid 32,607 974 30.7TO 919 During the year ended 31 December 2024. no Trustee expenses have been incurred (2023 - £NIL). 11. Tangible fixed assels Freehold Flxtures and property fittings Total Cost or valuation At 1 January 2024 Additions 140.000 215,647 4.650 355,647 4.650 At 31 December 2024 140,000 220,297 360,297 Depreclatlon At 1 January 2024 Charge for the year 177.969 12.597 177,969 12.597 At 31 December 2024 190,566 190,56fj Net book value At 31 December 2024 140.000 29,731 169,731 At 31 December 2023 140,000 37,678 177,678 Page 20
THE FORGE COMMUNITY CHURCH (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 12. Debtors 2024 2023 Due within one year Trade debtors other debtors prePanentS and accrued income 400 6,521 3,951 5,115 4.265 10.872 9.380 13. Credltors: Amounts falllng due within one year 2024 2023 Trade creditors other taxation and social securrty Other creditors Accruals and deferred income 11,129 4.305 17,262 3.810 8.467 3.955 17,020 13,114 36,506 42.556 Page 21
THE FORGE COMMUNITY CHURCH (A company Ilmfted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 1Q Statement of funds statement of funds - current year Balance at 31 December 2024 Balance at 1 January 2024 Income Expendlture unrestrict funds General Funds 212,032 364.508 (388.991) 187.549 R¢$tricted funds Restricted Fund 47,955 75,238 (66,863) 56,330 Total of funds 259,987 439,746 (455,854) 243,879 Restricted funds are held for the following purposes.. - Away in a Hamper- annual Chrislmas appeal to provide familieg in need with Christmas dinner Postbox Project - addressing njral isolation through regular correspondence - Child Sponsorship - ensuring ihe poorest children in Maposa, Zambia receive one good meal a day Hardship Fund - making grants for essential expenditure to families in need - storage Facilities - for the Moses Project and the Furniture Bank - The Base - open access youth provision in Debenham Benevity- Kids work at The Forge - Volunteer Support- providing ID lanyards and official T-shirts for public-facing volunteers Guatemala- for the 2025 mission trip to Guatemala Ukraine - funds held from the 2022 appeal for supporting Ukralnian refugees in Suffolk David & Jill Simpson Grant - grant towards costs of the Lunch Club for older residents held monthly in Debenham. Page 22
THE FORGE COMMUNITY CHURCH (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 1& Statsment of funds (continued Statement of funds - prior year BalanGe at 31 December 2023 Balance at 1 January 2023 Transfers in/out InGome Expenditurn Unrestrlcted funds General Funds 235.235 337.496 (357. 609) (3.090) 212,032 Restricted fund8 Restn'cted Fund 10.953 66.607 (32.695) 3.090 47,955 Total of funds 246. 188 404. 103 (390,304) 259.987 Restricted funds as at Ihe end of 2023 were held for the following purposes: - Away In a Hamper- annual Christmas appeal to provide families in need with Christmas dinner Postbox Project - addressing rural isolation through regular correspondence - Child Sponsorship - ensuring the poorest children in Maposa, Zambia, receive one good meal a day storage Facllities - for the Moses Project and the Furniture Bank - The Base - open access youth provision in Debenham - Benevity- Kids work at The Forge - Volunteer Support - woviding ID lanyards and official T-shirts for public-facing volunteers 15. Anatysis of net assets between funds Analysls of net a88•t8 betWn funds - Currènt period Unrestrlctgd Restrfcted fund5 funds Total funds 2024 2024 2024 Tangible fixed assets Current assets Creditor8 due within one year 169,731 54.324 {36,506) 169.731 110,654 (36.506) 56,330 Total 187,549 56,330 243,879 Page 23
THE FORGE COMMUNITY CHURCH (A company limited by guaranto0} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 15. Anatysis of net assets between funds (contlnuod) Analysls of net assets between funds - prior perlod Unr8Strided funds 2023 Restricted funds 2023 Tot81 funds 2023 Tangible fixed assets Current assets Creditors due within one year 177,678 76,910 (42,556) 177.678 124.865 (42.556) 47,955 Total 212,032 47.955 259.987 16. Pension commltmont¥ The charity operates a defined contribution nSIOn schemo. The assets of the 8¢heme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £5,804 (2023 - £5,581) ContribLrtions totalling £1,092 (2023 - £1.065) were payable to the fund at the balan sheet date and are included in creditors. 17. Operatlng lease commitments At 31 December 2024 the Company had tmMItmentS to makè future minimum lease payments under non-cancellable operating leases as follows.. 2024 2023 Not Sater than 1 year Later than 1 year and not later than 5 years 28204 2,106 21.700 4,050 30.310 25. 750 18. Relaled party tran#actlon8 During the year £744 (2023 - £NIL) wa5 paid to close family members of Trustee Michael Walsh for cleaning SeIces. There are no further related paty transactions in the year that requlre disclosure (2023 - £NIL), other than those disclosed in note 10. Page 24