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← Calvary Temple United Pentecostal Church

2023-12-31-accounts

CALVARY TEMPLE UNITED PENTECOSTAL CHURCH

REGISTERED CHARITY No: 1105609

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

THE ACCOUNTING HOUSE COMPANY LIMITED

- Bray on Thames -

CALVARY TEMPLE UNITED PENTECOSTAL CHURCH

31 DECEMBER 2023

INDEX

Page
Information 1
Independent Examiner's Report 2
Trustees Annual Report 3-4
Statement of Accounting Policies 5
Balance Sheet 6
Notes to the Accounts 7-8
Income and Expenditure Account 9

CALVERY TEMPLE UNITED PENTECOSTAL CHURCH

INFORMATION

31 DECEMBER 2023

TRUSTEES: O. Johnson N. Smith
D. Gordon M. Walker
D.M. Sappleton E. Bushay
CHARITY NUMBER: 1105609 (Registered in England & Wales)

ACCOUNTANTS: The Accounting House Company Limited WeirBank Monkey Island Lane Bray on Thames SL6 2ED BANKERS: HSBC 103 Streatham Hill Streatham London SW2 4UE

1

INDEPENDENT EXAMINER'S REPORT TO THE MANAGEMENT COMMITTEE OF

CALVARY TEMPLE - UNITED PENTECOSTAL CHURCH

We report on the accounts of the Charity for the year ended 31 December 2023 which are attached.

Respective responsibilities of trustees and examiners

As the Charity's management committee, you are responsible for the preparation of the accounts; you consider that the audit requirement of section 43(2) of the Charities Act 1993 (the Act) does not apply. It is our responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under section 43(7) of the Act, whether particular matters have come to our attention.

Basis of independent examiner's report

Our examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, audit, and consequently we do not express an audit opinion on the view given by the accounts.

Independent examiner's statement

In connection with our examination, no matter has come to our attention:

  1. Which gives us reasonable cause to believe that in any material respect the requirements;

  2. to keep accounting records in accordance with section 41 of the Act; and

  3. to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act

have not been met; or

  1. To which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

THE ACCOUNTING HOUSE COMPANY LIMITED

WeirBank Monkey Island Lane Bray on Thames SL6 2ED

28 August 2024

2

CALVARY TEMPLE UNITED PENTECOSTAL CHURCH

TRUSTEES ANNUAL REPORT

Calvary Temple United Pentecostal Church is governed by a constitution and is a registered charity. No: 1105609. It's address is at 1 Councillor Street, Camberwell, London SE5 0LY. The Charity's Trustees, during the year ended 31 December 2023 were:

O. Johnson N. Smith D. Gordon M. Walker D.M. Sappleton E. Bushey

The object of the charity is to promote the Christian religion in the South of England. It has the following specific investment powers:-

Power to collect, accept, issue appeals for donations and to do all things that shall further the attainment of the objects of the Church; and,

Power to invest money, real and personal property; and

Power to be at liberty to borrow as required by law.

CHARITY'S ACTIVITIES AND ACHIEVEMENTS DURING THE YEAR

To promote Christian faith through:

Regular Services Regular Sunday School teaching Bible Study Classes Looking After Youth

The structure of the Church comprises of a Pastor, Ministers, Deacons and Sunday School teachers.

The Church holds regular conferences for different age groups of the congregation:-

Liaising with local churches of the local community Liaising with Pentecostal Churches in the UK and throughout the world

Apart from the Pastor, all are volunteers.

The charity did not experience any deficits in it's fund raising activities.

RESERVES POLICY

The Charity has two types of reserve namely a general reserve which represents the unrestricted funds arising from past operating results and includes the fixed assets of the Charity and a Property Revaluation Reserve created to show the enhanced value of the church's freehold property which was vlaued on 6 September 2023. The total of the General Reserve stands at £675,190 (2022: £689,739) and the Property Revaluation Reserve of £2,575,000 (2022- Nil)

3

CALVARY TEMPLE UNITED PENTECOSTAL CHURCH

TRUSTEES ANNUAL REPORT (continued)

GIFT AID CLAIMS

The Charity received Gift Aid claims of nil during the year (2022 nil ).

INVESTMENT SELECTION POLICY

Short term - short term fixed deposit and money market account.

REVIEW OF MAJOR RISK

Health and safety, annual fire inspection to comply with fire regulations.

The Charity has building and public liability insurance covering the buildings.

DECLARATION

I declare, in my capacity of Trustee, that:-

The Trustees have approved the report above and overleaf and have authorised me to sign on their behalf.

………………………………………………………

M. WALKER - FINANCE CHAIR

28 August 2024

4

CALVARY TEMPLE UNITED PENTECOSTAL CHURCH

STATEMENT OF ACCOUNTING POLICIES

AT 31 DECEMBER 2023

1 ACCOUNTING POLICIES

Accounting convention:

These financial statements have been prepared under the historical cost convention.

2 DEPRECIATION

Depreciation is calculated to write off the cost of the fixed assets over their estimated useful lives on the following annual bases:

Motor vehicles : 25% reducing balance Freehold property : 2% straight line Church furniture and equipment : 20% reducing balance Office furniture and equipment : 15% reducing balance Computers : 25% straight line Portakabin : 10% straight line

3 INCOME AND EXPENDITURE

All income and expenditure represents unrestricted funds.

5

CALVARY TEMPLE UNITED PENTECOSTAL CHURCH

BALANCE SHEET

31 DECEMBER 2023

FIXED ASSETS
Tangible Fixed Assets(Note 1)
Intangible Fixed Assets(Note 2)
CURRENT ASSETS
Debtors(Note 3)
Cash at bank
CURRENT LIABILITIES
Sundry creditors(Note 4)
NET CURRENT ASSETS
Represented by:
ACCUMULATED FUNDS (Note 5)		 UNRESTRICTED
FUNDS
2023
£
£
3,043,804
2,247
3,046,051
66,413
143,562
209,975
5,836
204,139
3,250,190
3,250,190		 2023
£
488,126
2,996
491,122
68,829
136,319
205,148
6,531
198,617
689,739
689,739

These financial statements were approved on behalf of the Council of Management on 28 August 2024.

……………………………………………………………….

M. WALKER - Finance Chair

……………………………………………………………….

J. HALL - Treasurer

The attached notes form part of the financial statements.

6

CALVARY TEMPLE UNITED PENTECOSTAL CHURCH

NOTES TO THE ACCOUNTS

31 DECEMBER 2023

1 FIXED ASSETS Church Office
Furniture Freehold Motor Computer Furniture
& Equipment Property Vehicles Equipment & Equipment Total
£ £ £ £ £ £
Cost:
At 1 January 2023 217,919 750,000 46,906 19,742 42,555 1,077,122
Additions - 2,575,000 - - - 2,575,000
At 31 December 2023 217,919 3,325,000 46,906 19,742 42,555 3,652,122
Depreciation:
At 1 January 2023 197,797 290,200 46,640 19,282 35,077 588,996
Charge 3,019 15,000 66 115 1,122 19,322
At 31 December 2023 200,816 305,200 46,706 19,397 36,199 608,318
Net book value:
At 31 December 2023 17,103 3,019,800 200 345 6,356 3,043,804
At 31 December 2022 20,122 459,800 266 460 7,478 488,126
The freehold property is valued at it's open market value at 6 September 2023. The excess of the
open market value at that date over cost, has been credited to a proprty revaluation reserve account.
2023 2022
2 INTANGIBLE FIXED ASSETS £ £
Church website
Cost:
Balance at 1 January 2023 34,585 34,585
Additions in year - -
Balance at 31 December 2023 34,585 34,585
DEPRECIATION
At 1 January 2023 31,589 30,591
Charge for the year 749 998
At 31 December 2023 32,338 31,589
Net book value 2,247 2,996
3 DEBTORS
Loan - Life Tabernacle 50,000 50,000
Gift Aid receivable 16,413 16,413
Other debtors - 2,416
66,413 68,829

7

CALVARY TEMPLE UNITED PENTECOSTAL CHURCH

NOTES TO THE ACCOUNTS

AT 31 DECEMBER 2023

4
CREDITORS
British Gas
British Telecom
Inland Revenue
Accountancy
5
ACCUMULATED FUND
General Fund:
Balance at 1 January 2022
Net income for the year
Balance at 31 December 2022
OTHER RESERVES
Property Revaluation Reserve:
Balance at 1 January 2023
Additions in year
Balance at 31 December 2023
TOTAL RESERVES		 2023
£
146
594
1,706
3,390
5,836
689,739
14,549)
(
675,190
-
2,575,000
2,575,000
3,250,190		 2022
£
328
385
2,842
2,976
6,531
688,800
939
689,739
-
-
-
689,739

8

CALVARY TEMPLE UNITED PENTECOSTAL CHURCH

INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

INCOME
Tithes and offerings
Interest receivable
EXPENDITURE
Pastor's salary
Salaries and national insurance
Pension costs
Water rates
Light and heat
Building insurance
Telephone and postage
Printing and stationery
Building repairs and maintenance
Office equipment and maintenance
Motor and travel expenses
Cleaning and caretaking expenses
Hospitality
Computer software costs
Bereavement Fund
Gifts and Special Offerings
Conferences and Retreat expenses
Missions
Youth Department expenses
Men's department
Bank charges
Visiting Ministers' expenses
Accountancy
Hire of equipment
Sundry expenses
Donations
Washroom and toiletry supplies
National Ladies Week
Anniversary expenses
Legal and professional fees
Minister tithes
Courses and training
Love and welfare
Depreciation
EXCESS OF EXPENDITURE OVER INCOME FOR THE YEAR		 UNRESTRICTED UNRESTRICTED
FUNDS
FUNDS
2023
2022
£
£
£
165,924
162,281
2,027
276
167,951
162,557
30,000
30,000
7,325
8,324
4,906
2,616
1,354
468
19,606
6,671
6,185
7,608
2,773
4,569
4,598
4,112
9,562
6,351
1,474
1,606
4,082
1,453
22,952
30,148
2,364
1,590
329
697
265
1,860
5,325
874
1,450
900
13,744
14,160
677
1,355
600
600
662
365
1,950
1,450
3,594
3,696
1,022
1,855
1,055
747
-
-
2,724
5,051
300
500
3,545
1,949
4,342
864
2,640
2,870
-
700
1,024
2,100
20,071
13,609
182,500
161,718
14,549)
(
839

9