Charity registration number 1102293 (England and Wales) Company registratlon nUMr 4942206 EVERY NATION LONDON (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 •ADZ65utr19* 2eA0312025 COMPANIES HOUSE A02
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EVERY NATION LONDON LEGAL AND ADMINISTRATIVE INFORMATION Trustees C Lugt W Schoonraad P Howell D Daniel {Appointed 21 April 2024) Secretary T Sheppard Charfty numbèr (England and Wales) 1102293 Company numbor 4942206 R•giStered offi Clo Fulham Boys School 9 Beaumont Avenue London W14 9LP Audltor Xeinadin Audil Limitèd 5 Robln Hood Lane Sutton Surrey SM12SW Bankor• Barclays Bank PIC United Kingdom House 7th Floor 180 Oxford Street London W1D 1EA
EVERY NATION LONDON CONTENTS Pag• Trust6ès' rèport Independent audltor's report Statement of financlal acllvltles io Balance sheet 11 Statement of cash flows 12 Nol8s to the financial statements 13-25
EVERY NATION LONDON TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 30 JUNE 2024 The trustees prèsènt their annual report and financial statements for the year endéd 30 June 2024. The financial slalem8nts have been prepared in accordance with the accounting policies sel out in note 1 to the financial statements and comply with the charity's Memorandum of Association, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in tho UK and Republic of Ireland {FRS 102) (effective 1 January 2019)". ObJoCtlvos and actlvltlos The activities of the charity are for the public benefit accordlng lo the oblectlves as set out in the Memorandum and Articles ofAssocialion as accepted on the iwenly third day of October 2003. In summary the objectives of the charity are to "advance thè Christian faith., "lo advance educatlon in accordance with Christian principles" and 'lo relieve persons who are in Gondltlons of need and hardship". The Iruslees, policy Is to ensure that the resources available lo the company are effectively admSnistered lo the fulfilmenl ol the inlenl of the objectives of the Memorandum and Articles of Association. and in aG¢ordance with the requirements as prescribed by th8 Charily Commission. These objectives remain unchanged, and in planning the acllvlties the Charlty has taken into ¢onslderallon the guidance of the Charity Commlssion in providlng publlc benefil. Our cor• actlvltlel Our st818d mission to fulfil our leg81 objectives is ?0 glorify God by maklng disciples and making a difference.. in Ihg Clty. on campuses, in our communilies, and in thg nalions through church planting.. All ol our core aclivilies are towards this end, calegorised as follows.. Gatherlng$; Congregation gatherings in five locations.. West London {Wesl Kensington), Easl London {Mile Endl, Slough. Cardiff and most recently. Hunlingdon. We also havo a new congregation in development in South London (Kingston). Groups: 'Connect Groups" Ihat meel in person or online in cofflmunities around London for relational connection and spiritual growth. Growth Track: We run a variety of courses lo help people grow in their faith, including The Follow Course - an inlenllonal three-part journey by which we help all who deslre lo know God and grow in Ihèir faith. Gol Opportunitles: Activities and Initiatives to fulfil the mission of the ¢hurch to make disciples and make a difference. In addition. we have an active children's. youth, and student ministry. and run programs to strengthen marriages and (amilies. Beyond our local congregations we are actively involved in supporting other churches across Europe with ministry skills training, resourcing, and18adership development and Support. In all this we are confident thai our focus on these cor8 aclivities is resulting in the strong fulfilment and advancing our mission, Achievements and perfomianee This financial year has seen continued positive attendance growth, particularfy in our West Kensington ongregation, which added a second regular Sunday service in Novémber 2023 In response to outgrowin9 Its current capacity in one service. Following the cancer dlagnosis rec8lved by our Founding Pastor Wolfgang Eckleben ("Wolfi"} in January 2022, and the subsequenl Lead Pastor succession lo Oavid Daniel for the West Kensington congregation in January 2023, Wolfi's health remainéd stable for most of thè current financial year. However. in March 2024 Wolfi received an adverse prognosis regarding his cancer, which accelerated the process of lurther organisational transitions and ¢onlingencies. David Daniel was Iherefore appointed a Direclor and Trustee in April 2024, and took over all of Wolfi's éxècutive funotions, which ensured no disruptions to regular opefalions. Wolfi passed away peacefully on 131h September 2024. and is missed by his grateful friends and colleagues at Every Nation London. David Dani81 is fully installed as Senior Pastor and Executive Director.
EVERY NATION LONDON TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Achl•vemen18 and performanee (contlnued) A few other highlights of the year were= In August 2023 the West Kensington congregation was able to exlend its tenure beyond the original one-year lease for p8rman8nl use of the whole building al 9 Beaumont Avenue. by signing a new four-year lease. After a significant remodelling affort this venue has been an effective tool for many aspects of our mission. We received two extraordinary financial donations of £515.000 and £800.000 in November 2023 and May 2024 respectively. This has enabled us to make a few key hires in r8spons8 to gro¥h, and to build our deposit for our 'permanenl place of presence" in London. The Cardiff planl officially launched as a church in early 2024 and is going from strength to strength. Thls also functions under the covering of the Every Nation London charity. In response to continued gr0h in Our W651 Ken5inglon congregation. a new church plant in Kingston was initiated. A leader and team were identified and, beginnin9 with a 'vision night" in May 2024, we are currently preparing for the full launch of a ngw congregation in January 2025. We continued lo invest in the wider GOEUROPE2040 vision. which is "that by God's grar£ we will plant a campus-reaching church in every European nation by 2040" In partnership with our Europg Every Nation churches we have new works started In Lisbon, Glasgow. Zagreb, and Sweden. We have also launched a new "Scou12040" initiative lo help all Europe churches send small missions teams to all the nations in Europe where we do not yet have a campus-reaching church. Flnan¢lal rovI•w The Ministry is entirely dependent on the freewill giving of the members of the congregation. It was encouraging to see good growth in the number of individuals who regularly support the ministry financially. The annual gross income total was signlficantly higher than the previous year, Ihis belng due to iwo very generous large gifts received, as well a steady increase in regular donations across the congregations. These large gifts were received In our West Kensington congregation and were particularly significant as il ènabled us to do the required renovatlons and absorb the increased lease Costs of the new opportunity we had to remodel and create a magnificent new meeting space for the congregalion. Allocatlon of In¢om• Our general guidellnes for giving allocation from gross church income this year were as follows.. 100/• of gross church income is set aside for supportirsg tha greater Every Nation vision. half15 /0) of which Is usèd for advancing thè mission in Europe, and thé other half administèred by our head office in Nashville for overseeing and advancing the mission across the world. We now have works in over 85 nations! The Dir8clors confirm that the activities of both the Every Nation Europ8an and International ministry that we support with these funds are fully in line with the slated objectives of our chaflty. Every Nation International is accredited by the Evangelical Council of Financial Accountability in the USA. with the financial statements and activities published lor public access and scrutiny on the website at ww.ecfa.or9. The EN Apostolic Council is tasked with the responsibility of monitoring and directing the use ol the international finances. Each congregation furlher contributed 15/0 of gross income to a central department fund which funds all the activities and ministries which we deem to be more effectively done in synergy, rather Ihan as individual congregations. These specifically include the financial administration, audits, senior oversight. website. database, HR functions, combined events, missions, church planling initiatives. The remainder of ea¢h congregation's funds are used directly towards local congregation minlstry advancements. Reserves We aim to hold a-general unreslricled r8sèNè fund (th8 contingèncy fund) of £70,000, whlch Is roughly equivalent to three months. worth of operating budget. This is dèemed necessary for ensuring uninlerrupted continuity of the activities of the company since the regular tithes and offerings are not in any way guaranteed. In the ev8nl that Ihls contlngency fund drops below this agreed mlnimurn, our policy Is to reset this contingency fund to this level al the end of every financial year from unrestricted reserve funds.
EVERY NATION LONDON TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Reserves (continued) Each congregationldepartment also holds 'savings reserve lunds" of any annual excess funds they have. and these savings are allocated according to the congregalion core leaders directives. For example, the West Kensington Congregation holds significant savings of close to £1 mil which are allocaled to a future 'Permanent Place of Presencè" property of our own. Thls also Includes growlng restrlcted funds glven speclfKally to the building project. The European Churches Fund was posltlve at 30 June 2024, as shown In note 17. At the end of the year. the charity had total reserves of £2,503.990 (2023'.£1,205.451), of which £259.855 {2023.£280.465) were restricted, £617,351 12023.'£526,3081 were deslgnated and £1.626,78412023:£398.6781 were general unreslricled funds. Grant making pollcy Every Nation supports nèw church plants in Europ8 which are being planted by Every Nation churches in Europe. The amounts and lengths of support are decided by the Irustees based on information provided by the hurches. We do this because of our conviction that planling new churches is one of the most effective ways of advancing the objectives of our charity in the greater European context. Fundraising Every Nation London receives all of ils donation income from the fr8ewill glvlng of ils congregations. The Irusleès are committed to maintaining the highest legal and éthical standards in the way our charity undertakes its fundraising activities. All fundraising lakes place in-house, and we do not use any professional fundraisers. Oue to the sizo of our congregallon and the number of donations of all sizes wa rèceive each wèék, we cannot lully investigate each donation. We take precautions In our fundraislng to ensure the protection of the public, including vulnerable persons, from unreasonably intrusive or persistent fundraising approaches, or any undue pressure to donate. Our tèam takes seriously any expression of dissatisfaction we receive regarding our fundraising pTactlC8 and would aim lo resolve any complaints as quickly as possible. Any such complaints would be escalated to the congregation Lead Pastor and the Senior Pastor first. If the complaint cannot be resolv8d. it will be further escalated lo the church Board of Trustées, who will nomlnale a non-executive membgr of the Board to investigate the merits of the complaint and any resulting actions necessary. If necessary, we will contact the Charity Commission for advice and guidance. No complaints were made in the yéar to 30 June 2024. Investment pollcy The charity holds material programme-relaled investments in the form of a loan made to purchase a property to facllltate a mlnislry programme. The loan Is recognlsed at cost andls fully rep8yable in the evenl the property Is sold. Rlsk management The directors together with the Finance Board actively Consider the risks Ihal the company faces on an ongoing basis and impl&ment procedures and Controls through the staff to manage.and mitigate those risks as they are idenbfied. Safeguardlng ri$ks.' The Health and Safèty, Child Protection, and Data Protection funclions are sel and monllored by appointed officers. Financial risks.. In the light of the consistency of our income levels over the past few years. and our reseNe funds held, we do not currently foresee any fa¢tors that are likely to put the charity's financial p&rformance at risk.
EVERY NATION LONDON TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Future plans We believe that our core activities are deliverfng strongly io fulfilllng our mission. and Iherefore our main focus is to continue concentrating on running these well. Areas in which we will be seeking to advance and add in this financial year and going forward include: In November 2023 our Wesl Kensington congregation will Start a second moming Service to accommodate the growing numbers attending. 2. We are actively preparing for a new church plant in the South of London {Klngston), which wlll be supported by a "transplant- of 50-75 people from the West Kensington con9regalion in January 2025. 3. In September 2023 our congregats'on in Ea51 London moved back onlo the Queen Mary University in Mile End, meeting on Sur)day mornin9s, with the aim of more effectively engaging with the next 'generation. We are working closely wilh the leadership in Milè End to synchronise ministry operatlons more effectlvely across our London congregatlons (West Kensington, Mile End and Kingston). Future plans {continued) 4. We will be actively involved through leadership, finances and missions in the continued support of number of new church plants in Europe, including Switzerland and Sweden. Budgot for 2024125 The budget sel for the next financial year 2024125 is a bold one focussing on a number of expansion investments in staff and facilities. Employee msts have seen a significant increase compared to last year. particularly with new Lead Pastors added for the Wesl Kensington congre9alion, additional staff for key ministries. as well as some increases for staff members. The venue costs have also increased with the new lease and increase in utilities prices, and a general inflation increase. The additional costs and budget deficits in all departments are covered by each departments savlngs reseTv8s this year. The Board will fflonitor this with a midyear budg91 review and make any required decisions accordingly. The board and eldership are confident that the new budg8t reflects the ministry prlorilies for the next year. Slru¢ture, governance and managemènt The charity Is controlled by its governing document, the Memorandum and Articles ol Assoclallon, and onslltules a limited company, limi18d by guaranlee, as defined by the Companies Act 2006. The trustees, who are also the directors lor the purpose of company law, and who served durlng the year and up to the date of slgnature of the financial stalements were= W Eckleben (Resigned 13 September 2024) C Lugi W Schoonraad P Howell D Dani81 (Appointed 21 April 2024) The 8oard of Directors appoinls new directors for renewable terms ol three years. We use resources produced by Stewardship Services to induct new trustees and for ongoing trustee training. The Trustees of Evèry Nation London conslsl of a selection of memb8rs of the Eldership and Finance Board. Our church Eldership oversees the overall spiritual leadership direction of the church, and our Finance Board oversees and monitors the finance management and reporting.
EVERY NATION LONDON TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 This year the Eldership consistèd of.. Llz Lugi (Chairperson of the Eldershlp) Alex Lugt Wolfgang Eckleben Aison Eckleben Daniel Smart Amanda Smart David Daniel Tamsin Daniel This year the Finance Board conslsted of, in addition lo the Oirectors.. Mr Paul Howell (Chairperson) Mrs A Schoonraad Mr Matt White Mrs Terry-Lin Sheppard is also appointed as an advlsor to the board and Is contractèd to complète all finance reporting. Slaff and volunteers Both the Eldership and Flnance Board delegate executive funcllons to the $8nlor pastor and congregallon pastors, who lead the staff and volunteers to fulfil the mission. The Finance Board and congregation pastors comprtse the key m8n8gemenl personnel of the church. The majority of the work of the charity is done by many committed volunteers and we employ a number of staff in full-limè and part-lime positions for a varlety of pastor81, misslonal and 8dmlnislralive funcllons. Average number full lime staff for this period.. 11 Average number of part-time staff for this period.. 4 Average Partner supported staff Iwilh part support from Every Nation).. 12 Interns.. 1 Rfrmun•ratlon All salaries, remuneration and benefits declslons are made by the Finance Board. Pay grades of various ernploymenl levels have been s81 by comparisons with various churches remuneration reporls. and comparative jobs in the wider market. Salary reviews take place as part of the annual budget setting exercise, and all Increases are based on performance reports from staff revlews. Any decisions relating to the senior pastors or Iheir relatives are made by Ihe Board in Iheir absence. Wlder network Every Nation London is part of Ihe world-wide family ol Every Nation Churches and Ministries, whose slated 'end" is Ihat exist to honour God by establishing Chrisl-centered, Spirit•empOw8d, socially responsible churches and campus ministries in every nalion." There are currently Every Nation churches in over 80 nations of the world. We partner with th8 Every Nation family for the fulfilmenl of our mission, church planting, resources, equipping. etc. Every Nation London commits 100A of its gross income towards this wider work, with half of thls being directly managed from our London accounts and applied lo the work in Europe, and the other half being managed by and reported by the Every Nation International office in Nashville, US. We are also members ofthe Evangelical Alliance UK since 1995.
EVERY NATION LONDON TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Statomant of trustses. r•sponslbllitle8' The trustees, who are also the diredors of Every Nation London for the purpose of company law, are responsible for preparing the Tnjslees, Report and the financial slalements in accordance with applicable law and United Kingdorn Accounting Standards {United Kingdom Generally Accepted Accounting Practice). Company Law requires the trustees to prepare fin8ncial statements for èach financial year which give a true and fair view of the state of affairs of th8 charity and of the incoming resources and application of resources, including the income and expénditure, of the charitable company for that year. In preparing these Ilnancial Slalemenls, the trustges are requlred to.. select suitable accounting polici8s and then apply them consi51enlly,' observe thé méthods and principles in the Charities SORP., - mak8 judg8menls arKI estimates that are reasonablè and prudent" slate whether applicablé UK Accounting Standards have been followed, 8ublect to any material departures disclosed and explained in the financial slalem8nts', and prepare the financial slalements on the going concern basis unless it is inappropriate lo presume that the harily will continue in operation. The trustees are responsible for keeping adequate aecounllng records that disclose wllh reasonable aceuracy at any time the financial position of the charity and enable them to ensure that the financial stalemenls comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence lor taking reasonabl8 steps for the prévention and detection of fraud and other irregularities. Audltor In accordance with the company's articles, a resolution proposing that Xeinadin Audit Limited be reappointed as audilor of tho Company wlll be pul at a Gen8ral Meeting. Dlsclosur• of Informatlon to auditor Each ol the Iruslees has confirmed that there Is no information of whlch they are aware which is relevant lo the audit, bul of which the auditor is unaware. They have further confimed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is awar8 of such information. Conclusion We are confldenl that the aclivities of Every Nallon London. and the use of resourGes 83 desGrlbed above and detailed in the attached financial slalemenls, reflecl a committed pursuit and fulfilment of tho aims and objectives of the Trust for the public interest, and that we are in a slrong position to wntinue fulfilling our mission to "make dis¢lples and make a difference" The trustees, report was prepared in accordance with the special provisions relating to small c4ynpanies within Part 15 of Ihe Companies Act 2006 and approved by the Board of Trustees. C Lugt Trustee Dated.. 12 March 2025 AJ6x LL19t Pavid Pani6] D Danlel Trustee Daled.'12 March 2025
EVERY NATION LONDON INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF EVERY NATION LONDON Opinion We have audited the financial statements of Every Nation London (the 'charity'l for the year ended 30 June 2024 which ¢omprise the statement of financial activities, the balance sheel, the stglemenl of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financlal Reporting Standard 102 The Fin8ncial Reporting Stand8rd applicable in the UK and Republic ol Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements.. give a true and fair view of the stale of the charitable company's affairs as at 30 June 2024 and of ils incoming resources and application of resources. including ils income and expenditure, for the year then ended., have been properly prepared in accordance with Unitèd Kingdom Genèrally Accepted Accounting Practice; and have been prepared in accordance with thè requirements of the Companies Act 2006. Basls for opinion We conducted our audit in arcordance with Intemalional Standards on Auditing IUKI {ISAs {UK)) and applicable law. Our responsibilities under those slandards are further described in the Auditors responsibilities for the audil of tlje financial statements section of our report. We are independent of the charity in accordance wilh th8 ethical requirements that are relevant lo our audit of the financial statements in the UK, includlng the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibililies in accordance with these requirements. We believè that the audrt evldence we have obtained is sufficient and appropriate to provlde a basis for our opinion. Concluslons relatlng lo golng concern In auditing the financial statements, we have concluded that the Iruslees, use of the going conc8m ba.sis of accounting in the preparation of the financial slalemenls is appropriate. 8ased on the work we have performed, we hav8 not identified any material uncertainties rèlating lo gvgnts or conditions that, individually or collectively. may cast significant doubt on the charily's ability lo conlinue as a going Concern for a pèriod of al least twelve months from when the financial statements are aulhorised for issue. Our responsibilities and the responslbllllies of the trusl8es with respect lo going concern are described in the relevant sections of Ihis report. Other Informatlon The other information comprises the Infomiation included in the annual report other than the financial statements and our auditorfs report Ihereon. The Iruslees are responsible for the other information contained within the annual report. Our opinion on Ihe financial statements does not cover th6 other informallon and. except to the exlenl olhefwise explicitly slated in our feport. we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and. in doing so, consider whelher the other information is malerially inconsistent with the financial slalernents or our knowledge obtained in the course of the audit, or otherwise appears lo be materially misstated. If we identify such material inconsist8ncies or apparent malerial misstatements. we are required lo determine whether this gives rise lo a material misstalement in the financial slalemenls themselves. If, based on Ihe work we have performed, we conclude that there is a material misstalemenl of this olher informalion, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by tho Companies Acl 2006 In our opinion, based on the work undertaken in the course of our audit- the infom)ation given in the truste8s' report for the financial year for which the financial statements ar8 prepared, which includes the directors, report prepared for the purposes of company law, is consislenl with the financial statements; and the dir8Ctors' report included within the trustees. report has been prepared in accordance with applicable legal requirements.
EVERY NATION LONDON INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF EVERY NATION LONDON Matters on which we ar• requlred to report by exceptlon In the light of the knowledge and understanding of the charity and its environment obtained in the coursè of thé audit, we havo not identified material misststemenls in the dire¢lors' report included within the trustees, report. We have nothing to port in respect of the following matters in relation to which the Companies Act 2006 requires us lo report lo you if. in our opinion.. adequate accounting records have not beèn kept. or returns adequate for our audit have not been received from branche5 not vlsited by us,. or the financial statements are not in agreement with the accounting records and retums., or certain disclosures of trustees, remuneration specified by law are not made., or we have nol received all the information and explanalions we require for our audit: or the trustees wère not entilled to prepare the financial slalements in accordancè wlth the small companles regime and take advantage of the small ¢ompanies' exemptions in preparing the trustees, report and from thé requirement to prepare a strategic report. R•sponslbllltlo9 of trust•OS As explained more fully in the statement of trustees, r8sponsibililies, the trustees. who are also the directors of the harily for the purpose of company law, are responsible lor the preparation of the financial statements and for being salisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary lo enable the preparation of financial slalements Ihal are Ire8 from material misslalemenl, wh8lh8r duè lo fraud or error. In preparing the flnancial slalemenls, the Iruslees are responsible for assessing the charity's ability to continue as a going concern. disclosing. as applicable. matters related to going concern and using the going onG8rn basls of accounting unless the trustees eith8r Intend lo Ilquldato lh8 charltablè company or to cease operations, or have no realistic allernalive bul to do so. Audltofs rgsponslbllltles for the audlt of thè flnanclal 31atements Our objectives are lo obtain reasonable assurance about whether the financial slalemenls as a whole are free frorn material misslaternent, whelhei due to fraud or error. and to issue an auditor's report that includes our opinlon. Reasonable assurance Is a high level ol assurance bul is.not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misslalemenls Can arise from fraud or error and are consldered material if, Individually or in the aggregale. they could reasonably be expected to influence Ihe economlc decisions of users taken on the basis of these financial slatemenls. The extent to whl¢h our procedure5 are capable of detectlng irregularllles, includlng fraud. Is detailed below. Based on our understandlng of the charily, we identified that the pnncipal rlsks of non-compliance with laws and regulations related to employment and financial reporting legislation and we considered the extent lo which non- compliance mi9ht have a material effect on the financial slalemenls. We also considered Ihose laws and regulations that have a direct impact on the preparation of the financial slalements such as the Companies Act 2006 and the Charities Act 2011. We assessed the susceptibility of the charity's financial statements lo material misstatement, induding obtaining an understanding of how fraud might occur. by making enquiries of management, considering the inlemal conlrols in place and discusslon amongst the engagement team. We detemined that the princlpal risks were related lo posting inappfopriate loumal entries to increase revenue or reduts expendituré, management bias in accounting èstimates. presenlation of separately disclosed items and management override of controls.
EVERY NATION LONDON INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF EVERY NATION LONDON In response to the rlsks identified we designed procedures which included, bul were not limited lo.. agreeing financial statement disclosures to undertying supporting documentation identifying and testing joumal entries reviewng Trustees meeting mlnules evaluating the charity's internal controls challenglng slgnlflcant accounllng estlmates There are Inherent limilatlons in the audit procedures described above. The more removed that laws and regulations are from finanoal transactions. the less likely il is that we would become aware of non-compliance. Material misstatements that arise due to fraud can b8 harder lo delèct than those thal arise from error as they may involv8 deliberate wncoalment or collusion. A further descriptlon ol our responsibilltles Is available on the Financlal Reporting Council's website at.. hllps'.11 wvm.frc.org.uklaudltorsresponslbllilies. This description fomis part of our audilorfs report. U8• of our roport This report is made solely lo the charitable company's members, as a body, in accordance with Chapler 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might stale lo the charitable company's Members those matters we are required to slate to them in an auditor's report and for no other purpose. To the fullest exl8nl permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audil work, lor this report, or for Ihe opinions we have formed. Paul Nowton FCA {S•nlor Statulory Audltor) For and on behalf of Xeinadin Audit Limited, Statutory Auditor Accounlanls 5 Robin Hood Lane Sutton Surrèy SM12SW Dale: .24 Mar¢.h.?.Q.15
EVERY NATION LONDON STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 30 JUNE 2024 Unrèstricted Restricted funds funds 2024 2024 Total Unrnstrlcled Restrlcted funds funds 2023 2023 Total 2024 2023 Notes as r•stated ao restated Income from: Donations and legacies Charitable activities Inve51rnents 2.897,804 3,949 11,581 435,995 3,333,799 3,949 11,581 1,325,119 6,536 3,081 326,222 1,651,341 6.536 3,081 Total Incoma 2,913,334 435,995 3,349,329 1,334,736 326.222 1,660,958 Expènditura ¢)n: Charitable activities 1.626,594 456,605 2,083,199 1,402,062 282,610 1,684.672 Total expenditure 1.626,594 456,605 2,083,199 1.402,062 282,610 1,684,672 N•1 In¢omel(•xp•ndlture> and rnovemont In funds 1,286,740 (20,610) 1,266,130 (67,326) 43.612 123,7141 Ro¢onclllatlon of funds: Fund balances al 1 July 2023 As orlginally reported Prior year adjustrnent A5 reslaled 924,986 32,409 957,395 280,465 7,205,451 32,409 280,465 1,237,860 1,024,721 236,853 1.261,574 21 1.024.721 238,853 1,261,574 Fund balances at 30 Jun• 2024 2.244,135 259,855 2,503,990 957,395 280,465 1.237,860 The statement of Ilnancial activille3 Includes all gains 8nd10gses recognised In the year. All income and expendlture derive from continuing activllies. 10-
EVERY NATION LONDON BALANCE SHEET ASAT30 JUNE 2024 2024 2023 a$ rèstated Notes Flxed assets Tangible assets Programme rèlated investments 11 12 52.968 100,000 30.278 100,000 152,968 130,278 Current assels Debtors Cash at bank and in hand 13 365.454 2,135,252 111,621 1,093,442 2,500,706 1,205,063 Credltors: amounts falllng du• within one year 14 {149,684) {97.481) Nel currént assets 2,351,022 1.107.582 Total assats less Current Ilablliti•8 2,503,990 1,237,860 Income funds Reslricled funds Unreslricled funds Designated funds General unrestricted funds 16 259,855 280,465 17 617,351 1,626.784 526,308 431,087 2,244,135 957.395 2,503,990 1.237,860 The financial statements were approved by the Trustees on 12 March 2025 C Lugi Trustee AJ6x LLL9t D Daniel Trustee Pavid Pani8J Company reglslratlon number 4942206 11
EVERY NATION LONDON STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2024 2024 2023 Notes Cash flows Irom oporatlng aGtlvltles Cash generated fromllabsorbed by) operations 24 1.069,853 166,674) Investing activities Purchase of tangible fixed assets Proceeds from disposal of tangible fixed assets Investment income received {41,2671 (11,648) 1,643 11,581 3,081 N•t cash used In Investing a¢tlvllle• (28,043) {8,5671 N•t cash used In flnanclng activllies N¢t increasel{dgcrease) In cash and Cash equivalents 1,041,810 {75,241) Cash and cash equivalents at beginning of year 1,093,442 1,168,683 Cash and cash equlvalents at end of year 2,135,252 1,093,442 12-
EVERY NATION LONDON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Accounting policies Charity inforn)alion Every Nation London is a pr.ivate company limited by guarantee incorporate(l in England and Wales. The registered office Is Clo Fulham 8oys School, 9 Beaumont Avenue, London, W14 9LP. 1.1 Accountlng eonventlon The financial slalemenls have been prepared in accordance wilh the charlty's Memorandum of Association, the Companies Act 2006 and "Accounting and Reporting by Charities.. Stalement of Recomm8nded Practicè applicable lo charities preparing their accounts in accordano with thé Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 2019).. The charity is a Public Benefit Entity as definèd by FRS 102. The financial stat8ments are prepared in steriing, which is the functional currency ol the charity. Monetary amounts In these financial statements are rounded lo the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Golng concern Al the lime of approving the financial slalemenls. the Iruslees have a reasonable expectation that Iht charity has adequate resources to continue in operational exisl8nce for the foreseeable future. Thus the trustees continue to adopt the golng concem basis of accountlng in preparing ihe financial slalements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of Ihe Iru51ees in lurtherance ol their charitable objectives. Restricted funds are subject lo specific condilions by donors or grantors as lo how they may be used. The PLtrposes and uses of the restricted funds are set out In the no18s lo the financial statements. 1.4 Incomo Income is recognised when the charity Is legally entitled to it afler any performancé condillons have been met. the amounts tsn be measured reliably, and il is probable that income will be received. Cash donations are recognised on receipt. Other donation5 are recognised once the charity has been notified of the donation, unléss performance conditions require deferral of Ihe amount. Income tax recoverable in relation lo donations received under Gift Aid or deeds of covenant is recognSsed al the time ol Ihe donation. Legacies are reco9nised on receipt or otherwise if the charily has been nolified of an impending dislribulion, th8 amount is known, and receipt Is expected. If Ihe amount is not known, the legacy is Ir8ale(J as a contingent asset. The charity has relied significanlly upon volunteers in carrying out ils activities during the year, particularly local church activities. In accordance with paragraph 6.18 of the SORP, the role of volunteers has not been recognised as income from donaled services in the accounts. 13-
EVERY NATION LONDON NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Accountlng pollcles (Contlnuedl 1.5 Expendlluro Expenditure is recognised once the is a legal or construclive obligation to transfer economic benefil lo a third party. il is probabl8 Ihat a transfer of economic benefits will be required in settlemenl, and the amount of the oblig8tion can bè mèasured reli8bly. Expenditur8 is classified by aclivity. The costs of each activity are made up of the total of direct costs and shared costs. induding support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared cosls which contribute lo more than one activity and Support costs which are not allribulable lo a single activity are apportion8d between thos8 activities on a basi5 consistent with the use of resources. Central staff costs are allocated on the basis of time spenl, and deprecialion charges are allocated on thè portion of the asset's use. Grants payable are recognised at the earlier of when they are paid or bec0rn8 conslructive obligations. The nature of Ihe work of the church is consldered to be so integrated that the rA)re charitable activity costs are considered lo be for the one aclivily. The support cost5 attributable to the.fundraising activity are consldered minimal. Nethertheless an allocallon has been shown in Noté 5 10 the accounls. 1.6 Tanglble fixod a8s•t• Tanglblè fixed assets are Initially measured al cost arKI subsequently measured al cost or valuation, nel of depreciakn'on and any impairment losses. Depreciation is recognised so as to write off.the cost or valuation of assets less their residual values over their useful lives on the following bases- Plant and 8quipménl Fixtures and fillings Compulers Motor vehicles Over 4 years Over 4 to 5 years Over 3 years Over 5 years The gain or loss arising on the disposal of an asset is determined as the difference b&een the salè proceeds and the carrying value ol the asset, and is recognisèd In the statement of financial activities. 1.7 Impalrrnent of flxed assets At each reporting end dale, the charity reviews the carrying amounts of ils tangible assets to determine vthÈlher there 1$ any indication that Ihose assets have sulfered an impairmenl loss, If any such Indlcalion exists, the recoverable amount of Ihe asset is eslimaled in ¢yder to determine the exlent of the impairmenl loss lif any). 1.8 Cash and cash equivalènts Cash and cash equivalents include Cash in hand, deposits held at call with banks, other short-lem liquld investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabillties. 14-
EVERY NATION LONDON NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Accountlng pollcles {Conllnued) 1.9 Flnanclal instruments The charily has elected lo apply Ihe provislons of Section 11 '8asic Financial Instruments, and Section 12 'Olher Financial Instruments Issues, of FRS 102 to all of ils financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party lo the ¢ontraclual provisions of the inslrumenl. Financlal assets and liabililies are offset, wllh the net amounts presented in the financlal statements, when there is a legally enforceable right lo set off the recognised amounts and there is an inlenlion to settle on a nèt basis or to realise the asset and settle the liability simultaneously. Baslc Ilnan¢lal asséts Baslc flnanclal assets. whl¢h include debtors and cash and bank balances, are Inltlally measured al transaction price inrluding transaction costs and are subsequently carried al amortised cost using the effective inl8r8sl method unless the arrangement constilules a financing transaction, where the transaction is measured al the present value of the future receipts discounted at a market rale ol interest. Financial assets classified as receivable within one year are not amortised. Ba$lc flnanclal Ilabllltlo$ Basic financial liabilities, including cr8ditors and bank loans are initially recognised al transaction price unless the arrangement conslilutes a financing transaction, where the debl instrument Is measured al the present value of the future payments discounled at a market rate of interest. Financlal liabilities classified a5 payable within one year are not amortised. Oebl ins'truments are subsequently carried at amortised cost, using the effective interest rate method. Trade crèdStors are obligations lo pay for goods or services that have been acquired in the ordinary cours8 of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-currènt liabilities. Trade creditors are recognised initially at transacllon prlce and subsèquèntly measured al amortlsed cosl uslng the effective Interest method. Derecognltlon of financlal Ilabllltles FinanGial liabilities are derecognised when the charity's contractual obligations expire or are discharged or canc8118d. 1.10 Employee beneflls The cost of any unused holiday enlitlement Is recognlsed in th8 perlod in which the employee's services are received. Termination benefits are recogni5ed immediately as an expense when the charity Is demonstrably commilled lo lerninate the employment of an employee or lo provide lerminalion benefits. 1.11 R•tlrèmènt boneflts Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 15-
EVERY NATION LONDON NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Critical accounting estimates and judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assufflplions about the carying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongolng basis. Revlsions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods wherè the revislon affects both current and future periods. Donatlons and l•ga¢lo8 Unrostrlcted Re8lrl¢lod funds funds Total Unrestricted funds Restrlcted funds Total 2024 2024 2024 2023 2023 2023 Donations and gifts Tax recoverable 2,345,179 552,625 430,017 2,77S,196 5,978 558,603 1,108,770 216.349 323,482 2.740 1,432,252 219,089 2.897,804 435,995 3,333,799 1,325.119 326,222 1,651,341
EVERY NATION LONDON NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Charitable activltlos Dirgct costs Grants payable 2024 Support costs Total 2024 2024 2024 Local Church Community, Youth & Kids Campvs Ministry Ministry Equipping Missions & Church Planting International Ministry Support Excéptional expenses from savings 1,181,024 82,159 17.169 115,796 22,343 207.923 36,063 200,129 1,381,153 82,159 17.169 115.796 100.674 350,185 36.063 78.331 142.262 1,662,477 220,593 200,129 2,083,199 Direct costs Grants payable 2023 Support costs 2023 Total 2023 2023 Local Church Community, Youth & Kids Campus Mlnlstry Ministry Equipping Missions & Church Planting International Minlslry Support Building2Rebuild Exceplional expenses from savings 862,815 62,822 40.520 76,782 25,202 109,942 158,002 30,088 196,5111,059,326 62,822 40,520 76.782 82.150 174.982 158,002 30,088 56.948 65.040 1,366,173 121,988 196,5111,684,672 17-
EVERY NATION LONDON NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Grants payable Instltutlons Indivlduals 2024 2023 International Ministry Support Missions & Church Planting Relief of Poverty 142,262 39,482 142,262 73,915 4,416 65,040 51,125 5.823 34,433 4,416 181,744 38,849 220,593 121,988 For the year ended 30 June 2023 86,099 35,889 2024 2023 The main grants were made lo: Every Nation Church Inc, Brentood. Tennes5ee Ukraine Kalros Camp for klds Giving to IKhelhelo via Stewardship Oonalion lo Centrepoinl building fund Other instilulional support (under £1.0001 142,262 4,254 10.309 20,000 4,919 65,040 3,600 3,000 2,000 12.459 181,744 86.099 Support coots Support Governance costs costs 2024Support costs Governance costs 2023 Depre¢iatlon Propety IT & Tele¢om$ HR & General Accounting 16,934 42,365 12,407 94,930 25,645 16.934 42,365 12,407 94,930 25,645 17,000 40,900 9.282 97,861 25,528 17,000 40,900 9.282 97,861 25.528 Audit fees 7,848 7,848 5,940 5.940 192,281 7,848 200,129 '190,571 5,940 196,511 Net movement In funds 2024 2023 Th8 net movemenl in fvnds is staled after chargingllcrediling).. Fees payable for the audit of the charity's financial slatements Depreciation of owned tangible fixed assets Profit on disposal of tangible fixed assets 7,848 18.578 {1,644} 5,940 17.000 18-
EVERY NATION LONDON NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Trustees Mr W EGkleben was paid £52,300 (2023..£50,784) plus pension contributions of £5,200 (2023:£5,0761 in his capacity as a Senior Pastor. and not as a trustee, as permilled by the governing document. Mrs A Eckleben, his spouse, was also-paid £45,30012023:£43,439) plus pension contributions of £4,50012023'.£4,3141 in her capacity as a Senior Pastor. Miss A Eckleben, a daughter of Mr W and Mrs A Eckleben, was paid £32,846 (2023'.£24.632) plus pension contributions of £97612023.'£730) as an employee. Mr D Dani91 was appointed a Iruslee on 21 April 2024 and was paid a salary of £12,883 plus pension contributions of £385 from that point lo the end of Ihe year in his capacily as Senior Pastor. Mrs T Daniel, his wrfe, was also paid £8,333 plus pension contributions of £250 in this period. No remunerallon was paid to. any other trustee during the year nor to any person connected to them. No trustee received reimbursed expenses other than for items purchased on behalf of the church. Employee• The average monthly number ol émployees during the year was: 2024 Number 2023 Number 28 24 Employment ¢osts 2024 2023 Wages and s81anes Social security costs Other pension costs 961,216 91,292 45,182 696,708 64,620 38,437 1,097,690 799,765 The charity's activities are generally carried out by volunteers. Staff Costs include redundancy payments of £Nil (2023.£5,805). There were no employees whose annual remuneration wa$ more than £60.000. Remuneration of key management personnel The remuneration of key management personnel was as follows- 2024 2023 Aggregate compensalion 265,447 186,374 10 Taxation The charity is exempt from taxation on ils activities because all 115 income is applied for charitable purposes. 19-
EVERY NATION LONDON NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 11 fangiblè fixed assets Plant and Fixtures and *qulpm•nl ttlng8 Computers Motor vehlcles Total Cost Al 1 July 2023 Addilions Disposals 104,029 11,471 52.990 13.227 (2,OS8) 40.892 6.661 197,911 41,267 {2.056> 9,908 At 30 June 2024 115,51)0 64,159 47,553 9,908 237,120 Dgpre¢latlon and Impalrment At 1 July 2023 Depreciation charged in the year Eliminated in respecl of disposals 94,967 6,070 42,068 4,549 12,059) 30,598 6,927 167,633 18.578 12.059) 1.032 At 30 June 2024 101,037 44,558 37,525 1,032 184,152 Carrylng amount At 30 June 2024 14,463 19,601 10,028 8,876 52,968 AI 30 June 2023 9,062 10,922 10.294 30,278 12 Programm• r•lat8d Snveslments Concesslonary loan At 1 July 2023 and at 30 June 2024 100,000 An interest free loan has been advanced to enable a supported missionary to purchase accommodation. The loan is PaYable when the property Is sold. The loan Is measured al cost and wlll be adlusled for any impairment in the future as necessary. 13 Debtors 2024 2023 Amounts falllng due wlthln one year: Tax recoverable Other debtors Prepaymenls and accrued income 239.972 55,244 70.238 56,888 47,866 6,867 365,454 111,621 -20-
EVERY NATION LONDON NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 14 Creditors.. amounts falling due wtthin one year 2024 2023 Trade credllors Other creditors Accruals and deferred income 6.011 68,151 75,522 27,612 26,081 43,788 149,684 97.481 15 R?1Srement ben*lit schemes 2024 2023 D•lln•d conlrlbutlon 8chomos Charge to profil or loss in rèsp8Ct of defined contrlbutlon schèmes 45.182 38,437 The charity operal8s a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. 16 Re3trl¢t•d fund• The reslficled funds of the charity comprise thè unexpended ba18nce$ of donation$ and gran1$ held on trust subject to specifi¢ conditions by donors as to how they may be used. At 1 July 2023 Income Exp•ndlturè At 30 Jun• 2024 Chlldren and youth Foodbank Missions & Church Planting Needy families Other Property Fund Slough Property Fund Staff Support Europe Leaders Scholarship Fund The London Apostolic Fund Hous8 purchase fund Christmas Hamper 166 300 11.083 2.987 (2,987) 1300) (44,509) (4) {85) 166 50,623 17,197 125 58,034 6,643 91.925 1,185 11,000 100,000 3,081 1,438 3.121 59,472 6.643 62,199 1,185 9,872 100,000 377,491 (407,2171 (1,1281 375 1375) 280.465 435,995 {456,605) 259,855 21
EVERY NATION LONDON NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 16 Restrl¢tgd funds {Contlnued) Provlous yoar: At 1 July 2022 Income Expenditurg At 30 June 2023 Children and youth Foodbank Mlssions & Church Planting Needy families Other Propety Fund SIou9h Property Fund Staff Support Europe Leadèrs Scholarship Fund The London Apostolic Fund House purchase fund 541 106 300 43.370 14811 166 300 11,083 10.634 (42.921) 93 56,396 6,643 53.207 2.335 7.000 100.000 32 1,638 125 58,034 6.643 91,925 1,185 11,000 100.000 270,776 {232,058) 11,1501 16,0001 10,000 236,853 326,222 (282.610) 280,465 Chlldren and youth These funds are used for children and youth programmes and inilialives run by the congregations Foodbank Funds used lo support the local foodbank in Stratfora Mission8 & Church Plantlng These funds are used on mission trips and for 5UPPOrting and encouraging new church plants Needy families These funds are used to support families in financial need Prop•rty Fund Funds given for our vision ol leasing I renting I purchaslng etc a propety for our Sunday Services and or offices Slough Prop•rty Fund Funds given for our vision of leaslng / renting I purchasing ecl a property lor our Sunday Services and or offices in Slough Staff Support Funds giving for support staff salaries Community Presence Funds given for refurbishing the office and creating a presence In the community Europe Lead•rs Scholarship Fund Funds given to support new leadership d8velopmenl across Europe School of Mlnistry Funds given towards running the School of Ministry courses The London Ap05tolic F.und These funds were received lo support the slaffing and other costs of the GOEUROPE2040 vision. House purchase fund These lunds were given to support rnissionaries when purchasing accommodation. -22-
EVERY NATION LONDON NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 17 Unrèstricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subjeGI to sp6cific conoitions by donors and grantors as to how they may be used. These include designated funds which have been sèl aside out of unreslricled funds by the trustees for specific purposes. Al 1 July 2023 Income Exp•ndSture Tran8fer• At 30 Junè 2024 European Churches Fund Communily Presence Fund Social Responsibility General funds 38,444 487,864 39,228 {130,447) 142,262 89,487 487,864 40.000 1.626.784 40,000 {182,2621 431,087 2,874.108 {1.496,147> 957,395 2,913,334 {1,626,594) 2.244,135 ' Prnvlous year: At 1 July 2022 Income Expendlture Transters At 30 Jun• 2023 European Churches Fund Community Presence Fund General funds 65,763 666,608 292.350 27,935 {120,294) 65,040 (178,7441 113,704 38.444 487.8FA 431,087 1,306,801 {1,281,768) 1,024,721 1,334,736 11.402,0621 957,395 European Churches Fund Funds set a part for supporting, teaching, equipping and encouraging, the leaders and congregalions of all Every Nation Churches in Europe. Communlty Presence Fund Funds 811oc8led for our vision of leasing I renting I purchasing I refurbishing etc a property for our Sunday Servlces and or offices to establish a place of presence. 18 Analy818 of net as8•t3 bgtween fund8 Unrestrlctod funds 2024 Rèstrlcted funds 2024 Total 2024 At 30 June 2024: Tangible assets Programme related assets Current asselsl{liabilities) 52,968 52,968 100,000 2,351.022 100,000 159,855 2.191.167 2.244,135 259,855 2,503,990 -23-
EVERY NATION LONDON NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 18 Analysls of nét assets belween lunds (Contlnued) Unrestricted funds 2023 Restrictèd funds 2023 Total 2023 At 30 June 2023: Tangible assels Prograrnme relaled assets Currènt assetsllliabilitl8s) 30,278 30,278 100,000 1,107,582 100,000 180,465 927,117 957,395 280,465 1.237,860 19 Op•ratlng loa8• commltments Lo$so• At the reporting end dale the charlty had oulslanding commitments for lulure mlnlmum lease payments under non4ancellable operating leases, which fall due as follows.. 2024 2023 Within one year Between tsvo and five years 177,337 26,630 203,967 20 Related party transactlons Transactlons with related partles During the year the charity entered into the following transactions with related parties.. Unrestricted donalions of £1,442.273 {2023:£357,785} were received from trustees and related parties during the year. 21 Prlor year adJustm•nt A prior year adjuslmenl has been mad8 lo correct an error in the calculation of the accrual for holiday pay in previous years. The prlor year figures have been amended and the effects of the Gorrections are detailed below. As prevlously Prior year staled adjustment As restalod General lund expenditure General fund balance brought forward at 1 July 2022 Accruals and deferred income 1.409,535 267,414 88,497 7,473 24.936 32,409 t,402,062 292,350 43,788 -24-
EVERY NATION LONDON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 22 Members Each member ol the company commits to contribute an amount 01 £10 if the charity is wound up. 23 Analysis of Changes in net lunds The charity had no matèrial debt during the year. 24 Cash generated from operatlons 2024 2023 Surplusl(deficit) for the year 1,266,130 {23,714) Adjustments for: Investment income recognised in statement of financial activities Gain on disposal of tangible fixed assets Depreciation and impaimient of tsngible lixed assets 111,5811 (1.6441 18,578 13,0811 17.000 Movements in working capital: (Increase) Sn debtors Increase in ¢redilors {2S3,833) 52,203 169,064) 12,185 Cash generated froml(absoib•d by) oporatSon• 1,069,853 166,6741 -25-