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← Oswestry Christian Centre

2025-02-28-accounts

Charity Registration No. 1102538

Company Registration No. 04734618 (England and Wales)

OSWESTRY CHRISTIAN CENTRE

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FINANCIAL YEAR ENDED 28[th] FEBRUARY 2025

OSWESTRY CHRISTIAN CENTRE

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees P Doggett
R Field
S J Jones
Charity number 1102538
Company number 04734618
Registered office 10a Lower Brook Street
Oswestry
Shropshire
SY11 2HG
Independent examiner Rachel Pittaway
3 The Terrace
Welshampton
Ellesmere
Shropshire
SY12 0PL

OSWESTRY CHRISTIAN CENTRE

CONTENTS

Page
Trustees’ report 1-2
Independent examiner’s report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6-12

OSWESTRY CHRISTIAN CENTRE

TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 28[TH] FEBRUARY 2025

The trustees present their report and financial statements for the year ended 28[th] February 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity’s memorandum and articles 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 the UK and Republic of Ireland (FRS ) (effective 1 January 2019)”.

Objectives and activities

The charity's objects are the propagation and sale of Christian literature, educating the general public in Christian matters in the general area of Oswestry.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

During the year the charity continued the sale of Christian literature and educating the general public in Christian matters and to continue developing the Oswestry Christian Centre.

Financial review

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

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OSWESTRY CHRISTIAN CENTRE

TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT)

FOR THE YEAR ENDED 28[TH] FEBRUARY 2025 (contd.)

Structure, governance and management

The charity is a company limited by guarantee governed by its Memorandum and Articles of Association.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

P Doggett

R Field

S J Jones

The trustees have the power to appoint new trustees subject to the restrictions set out in the Charity's Memorandum and Articles of Association.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The trustees' report was approved by the Board of Trustees.

..............................

P Doggett Trustee

Dated: .........................

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OSWESTRY CHRISTIAN CENTRE

INDEPENDENT EXAMINER’S REPORT

TO THE TRUSTEES OF OSWESTRY CHRISTIAN CENTRE

I report to the trustees on my examination of the financial statements of Oswestry Christian Centre (the charity) for the year ended 28 February 2025.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). 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 matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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 financial statements to be reached.

Rachel Pittaway

3 The Terrace, Welshampton, Ellesmere, Shropshire, SY12 0PL

Dated: .........................

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OSWESTRY CHRISTIAN CENTRE

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 28[TH] FEBRUARY 2025

Notes
Incoming resources
Donations and legacies
3
Charitable activities
Investments
4
Total income
Expenditure
Charitable activities
5
Net income for the year/net movement in funds
Fund balances at 1stMarch 2024
Fund balances at 28th February 2025		 2025
5,701
23,409
232
29,342

31,976
-2,634
47,965
45,331		 2024
6,604
22,083
169
28,856
31,079
-2,223
50,188
47,965

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

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OSWESTRY CHRISTIAN CENTRE

BALANCE SHEET AS AT 28[TH] FEBRUARY 2025

ALANCE SHEET
S AT 28TH FEBRUARY 2025
NOTES
TANGIBLE FIXED ASSETS
9
CURRENT ASSETS
Stocks
10
Cash at Bank and in hand
CREDITORS: amounts
falling due within one year
11
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
INCOME FUNDS
Unrestricted funds		 2025
£
£
12,287
13,445
19,899
33,344
(300)
33,044
45,331
45,331		 2024
£
12,287
13,955
22,023
33,344
(300)		 35,978
(300)
35,978
47,965
47,965

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 28 February 2025.

The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the Trustees on .........................

.............................. P Doggett Trustee Company Registration No. 04734618

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28[TH] FEBRUARY 2025

OSWESTRY CHRISTIAN CENTRE

1. Accounting policies

Charity information

Oswestry Christian Centre is a private company limited by guarantee incorporated in England and Wales. The registered office is 10a Lower Brook Street, Oswestry, Shropshire, SY11 2HG.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum and Articles 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 the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

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

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28[TH] FEBRUARY 2025 (contd.)

OSWESTRY CHRISTIAN CENTRE

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Expenditure

Expenses are included in the financial statements as they become due.

Expenses include VAT where applicable as the company cannot reclaim it.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28[TH] FEBRUARY 2025 (contd.)

OSWESTRY CHRISTIAN CENTRE

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation 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:

Freehold land and buildings - Nil

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.7 Impairment of fixed assets

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

1.8 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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OSWESTRY CHRISTIAN CENTRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28[TH] FEBRUARY 2025 (contd.)

Basic financial assets

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

Basic financial liabilities

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

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course 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-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying 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.

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OSWESTRY CHRISTIAN CENTRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28[TH] FEBRUARY 2025 (contd.)

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions 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 where the revision affects both current and future periods.

3 Donations and legacies

Donations and gifts
Gift aid reclaimed
4 Investments
Interest received
5 Charitable activities
Purchases for resale
Staff costs
Heat and light
Insurance
Bank charges
IT expenses
Printing, postage and stationery
Rates
Cleaning
Repairs and maintenance
Accountancy – examination
Legal
Telephone
Advertising		 2025
£
4,921
780
5,701
2025
£
232
2025
14,192
13,927
1,355
363
111
705
134
419
5
452
300
13
-
-
31,976		 2024
£
5,786
818
6,604
2024
£
169
2024
14,893
12,834
1,066
380
107
692
115
323
5
326
300
13
-
25
31,079

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OSWESTRY CHRISTIAN CENTRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28[TH] FEBRUARY 2025 (contd.)

6 Trustees

None of the trustees received any remuneration or benefits from the charity during the year.

7 Employees

Number of employees

2025 2024
Number Number
2 3

None of the employees received benefits in excess of £60,000.

8 Examination fees

Included within the SOFA are examination fees of £300 (2024 - £300).

9 Tangible fixed assets

Freehold land and buildings Freehold land and buildings
£
Cost
At 1 March 2024 12,287
At 28thFebruary 2025 12,287
Carrying amount
At 28thFebruary 2024 12,287
At 28thFebruary 2025 12,287
**10 ** Stocks
2025 2024
£ £
Finished goods for resale 13,445 13,955

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OSWESTRY CHRISTIAN CENTRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28[TH] FEBRUARY 2025 (contd.)

11 Creditors: amounts falling due within one year

Accruals and deferred income 2025
£
300
300		 2024
£
300
300

12 Related party transactions

During the year the Charity employed the spouse of Robert Field (Trustee). During the year Mrs Field was paid £6,421 (2024 - £6,271).

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