# ## Velmore Church Report and Accounts Year ended 31 March 2024 Page 1 # ## **VELMORE CHURCH** ## **LEGAL AND ADMINISTRATIVE DETAILS** ## **FOR THE YEAR ENDED 31 MARCH 2024** ADDRESS FOR CORRESPONDENCE Falkland Road Chandler's Ford Eastleigh SO53 3GY GOVERNING DOCUMENT Declaration of Trust dated December 1966, amended February 2002 and November 2007 CHARITY REGISTRATION NUMBER 1102248 TRUSTEES RESPONSIBLE FOR MANAGING THE CHARITY BANKERS INDEPENDENT EXAMINER Andrew Watt Richard Stannard Jonathan Cox Lloyds Bank plc Santander UK plc Jaimée Young Stewardship 1 Lamb's Passage LONDON EC1Y 8AB ## **INDEX** Page 2 Legal and Administrative Details Pages 3-4 Trustees' Report Page 5 Independent Examiner's Report Page 6 Receipts and Payments Account Page 7 Statement of Assets & Liabilities Page 8 Notes to the Accounts Page 2 # ## **VELMORE CHURCH** ## **REPORT OF THE TRUSTEES** ## **FOR THE YEAR ENDED 31 MARCH 2024** The Trustees have pleasure in submitting the Report and Accounts for the year ended 31 March 2024. ## **Objects of the charity** The charity, which is a church, is governed by a trust deed and is constituted as a trust. The charity's principal objects, as set out in its governing document, are to hold the property known as Velmore Chapel for the use of believers for preaching the gospel, worship and prayer, and ministry of the Word. ## **Summary of the charity's main activities and achievements** To further the above objects and vision, the charity's main activities have been focussed on providing a place for Christian worship and witness, and reaching out to serve the community of all ages around the church. The main achievements were as follows: Over the past year, the leaders have continued to make progress toward appointing a new pastor for the church. The leaders have spent time in prayer, in preparing a person and job description, and writing an advert for a new pastor. The advert will be published in the next financial year. We believe that the Lord will lead and direct us in this matter as he has in the past. It is also worth mentioning that we are delighted to have both our previous pastors and their wives back at Velmore, playing an active role in the fellowship. We have seen new folks joining us on Sundays, which has been a real encouragement. We also note that several of our elderly friends have been called home to be with the Lord since our last report. We have fond memories of all of them and hope to meet again. Once again during the past year we have been blessed in our Sunday services in our times of worship and in the faithful preaching of God’s Word by visiting speakers and by our own folks. We are blessed indeed to have so many who are willing to give their time to prepare and preach. We have welcomed a new speaker, Richard Cole, as well as many ‘old’ friends and representatives of the various missions that Velmore supports. We are particularly grateful to Shaun Sweeney, who came to us for four Sundays, plus Good Friday, in the approach to Easter. Our subjects on Sundays have included: - A selection of psalms - Colossians - Daniel - The Light of the World (Advent and Christmas) - John’s Gospel - ‘Roads’ (leading to Easter) On Wednesday evenings, where we have seen increased attendance, our subjects for discussion have included: - When God doesn’t fix it - Transformed (becoming like God’s Son) - Gospel in Life (Tim Keller) - Service - Vital Christianity (the books of 2 Timothy and Titus) We have also had special evenings of prayer for local, national and international missions. We have held special Sunday services, including a Carol Service which was well attended, and a number of meal services, which have become increasingly popular with friends from the community. Around 70 people have attended the most recent of these, which is close to the maximum we could accommodate. We also held a fun afternoon in August for friends from the community which was wellreceived. The Church also had a stall at the Velmore Centre Christmas Fayre, where we sold homemade cakes and invited people to our Christmas services. All these times help us build bridges with our local community, as does our regular contact with people in the Centre Café. Page 3 # Another task the leaders have accomplished this year is writing material for a new website for the church (www.velmore.org): we are very grateful to Gareth for his technical help in this area. Other ways people in Velmore church keep in touch include an informal WhatsApp group, where there is usually a daily thought and prayer, a weekly praise and prayer sheet and a monthly bulletin. Gratitude is a word that sums up much of what we feel, looking back. Gratitude to everyone who comes to Velmore for their loyal support, and gratitude to God, who has blessed us in so many ways. We do not take anything for granted. Although prayer is not a magic formula where God acts like a genie (‘your wish is my command’) we do believe that it is no coincidence that we have seen blessing at Velmore this year at a time when there has been increased prayer, particularly in our Wednesday meetings. Let’s keep going as we look to the future, committing our way to the One who can do ‘immeasurably more that we can ask or imagine.’ In planning the activities the Trustees have applied the guidance on public benefit issued by the Charity Commission. ## **Financial review** During the year income increased by £8,700, to £34,700, and expenditure decreased by £3,400, to £9,900. As a result the cash held by the charity increased by £24,800. At year end the charity held unrestricted cash of £64,100 which can be used for any charitable purpose. ## **Reserves policy** The trustees have determined that the charity should aim to hold unrestricted cash of no less than £18,000 (which is an estimate of the equivalent - over three years (£6,000 p.a.) - of the potential shortfall between income and total expenses including the anticipated cost of employing a fulltime worker on a fixed term contract of up to three years). At the year end, the charity held unrestricted cash of £64,132 and the charity is complying with its reserves policy. ## **Governance** Responsibility for setting policy and for making operating decisions rest with the trustees who meet regularly to monitor the activities of the charity. New trustees are recruited and appointed by the existing trustees. ## **Responsibilities of trustees** Charity law requires us as Trustees to prepare financial statements for each accounting year which record the receipts and payments of the charity for the year. We are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable us to ensure that the financial statements comply with the Charities Act 2011. We also have a responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities. ## **Approval** This report was approved by the trustees and signed on their behalf by: ## _JCox_________________ _AWatt___________________ Jonathan Cox Andrew Watt Date:_22_January_2025____________________ Page 4 # ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF** ## **VELMORE CHURCH** I report to the trustees on my examination of the accounts of Velmore Church ('the charity') for the year ended 31 March 2024 on pages 6 to 8 following. ## **Responsibilities and basis of report** As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’). I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner’s statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in accordance with section 130 of the 2011 Act; or 2. the accounts do not accord with the accounting records. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. Jaimée Young Stewardship 1 Lamb's Passage LONDON EC1Y 8AB Date: 23 January 2025 Page 5 # ## **VELMORE CHURCH** ## **RECEIPTS AND PAYMENTS ACCOUNT** ## **FOR THE YEAR ENDED 31 MARCH 2024** |Notes
**_Income receipts_**
Donations
Interest
**_Capital and similar receipts_**
**_Total receipts_**
**_Payments_**
**_Total payments_**
Transfers between funds
5
**Net movement in funds**
Cash funds as at last year end
**Cash funds at this year end**
A
Net
of
receipts
/
(payments)
before
transfers
Payments
in
relation
to
charitable
activities undertaken directly
Grants
paid
in
relation
to
charitable
activities undertaken by others||General
Designated
Funds
Funds
£
£
33,553
-
262
-
33,815
-
-
-
33,815
-
8,059
-
-
-
8,059
-
8,059
-
25,756
-
(819)
-
24,937
-
39,195
-
64,132
-
Unrestricted Funds|Restricted
Funds
£
851
-
851
-
851
-
1,816
1,816
1,816
(965)
819
(147)
456
309|Total
2024
£
34,403
262
34,665
-
34,665
8,059
1,816
9,875
9,875
24,790
-
24,790
39,651
64,441|Total
2023
£
25,921
82
26,003
-
26,003
12,552
746
13,298
13,298
12,705
-
12,705
26,946
39,650| |---|---|---|---|---|---| The notes on page 8 form part of these accounts. Page 6 # ## **VELMORE CHURCH** ## **STATEMENT OF ASSETS AND LIABILITIES** ## **FOR THE YEAR ENDED 31 MARCH 2024** |**A Cash funds**
Cash at bank with immediate access
Notice deposits
**B Other monetary assets**
Gift aid due to charity
**C Liabilities**
**Falling due within one year:**
Taxes due
Fee for Independent Examination
Accrued expenses
**D Assets retained for charity's own use**
*Church premises and outbuildings
Church contents|General
Designated
funds
funds
£
£
50,062
-
14,070
-
**64,132**
**-**
-
-
**-**
**-**
-
630
-
3,100
-
**3,730**
**-**
Unrestricted Funds|Restricted
funds
£
309
-
**309**
-
**-**
-
-
-
**-**|Total
2024
£
50,371
14,070
**64,441**
-
**-**
-
630
3,100
**3,730**
Value
2024
£
1,734,999
48,275
**1,783,274**|Total
2023
£
25,710
13,941
**39,651**
-
**-**
-
630
3,100
**3,730**
Value
2023
£
1,694,335
48,275
**1,742,610**| |---|---|---|---|---| The trustees have used insurance values as the trustees are unable to reliably estimate current values; insurance values may differ materially from current values. *The building used by the church is leased from Eastleigh Borough Council. The lease expires in 2031. ## **E Investment assets** |Income bonds|Value
2024
£
4,000
4,000|Value
2023
£
4,000
4,000| |---|---|---| The accounts were approved by the trustees and signed on their behalf by _JCox______________________ Jonathan Cox _AWatt______________________ Andrew Watt date _22_January_2025____________ The notes on page 8 form part of these accounts. Page 7 # ## **VELMORE CHURCH** ## **NOTES TO THE ACCOUNTS** ## **FOR THE YEAR ENDED 31 MARCH 2024** ## **1 Accounting policies** The accounts have been prepared on a receipts and payments basis and comprise a statement that shows the charity's receipts and payments, a statement that summarises the charity's assets and liabilities and related notes. The accountancy profession have determined that only accounts prepared in accordance with applicable accounting standards present a 'true and fair' view and, as these receipts and payments accounts have not (and cannot) be prepared in accordance with accounting standards, these accounts do not present (and are not intended to present) a 'true and fair' view of the charity's financial activities and state of affairs. General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects. |**2**
**Payments in relation to charitable activities undertaken directly**
Employment costs
Building and facilities
Church activities
**3**
**Grants and gifts paid to others**
Organisations:
Organisations < £1,000
Individuals||Unrestrict|Designated
funds
£
-
-
-
-
-
-
-
ed Funds|Restricted
Funds
£
-
-
-
-
1,529
287
1,816|Total
2024
£
-
4,805
3,254
8,059
1,529
287
1,816|Total
2023
£
2,406
2,851
7,295
12,552
601
145
746| |---|---|---|---|---|---|---| |||General
funds
£
-
4,805
3,254
8,059
-
-
-||||| - **4 Transactions with related parties** No payments were made to trustees or persons related to them, except for reimbursement of expenses paid out on behalf of the charity. |**5**
**Movement of funds**
General funds
Restricted funds
Winchester Beacon
Other Mission
Total funds|Opening
balance
£
39,195
39,195
296
160
456
39,651|Receipts
£
33,815
33,815
282
569
851
34,665|Payments
£
(8,059)
(8,059)
558
-
(1,258)
(1,816)
(9,875)|Transfers
£
(819)
(819)
-
819
819
-|Closing
balance
£
64,132
64,132
20
289
309
64,441| |---|---|---|---|---|---| _Winchester Beacon: donations given in support of the charity Winchester Churches Nightshelter [CC reg. 1080443] (aka The Winchester Beacon) Other mission: collections for supported charities and missionaries._ Page 8