## INCOME AND EXPENDITURE ACCOUNT ## Prepared for **FAITH TABERNACLE UNITED PENTECOSTAL CHURCH (CHARITY NUMBER 1106678)** For the period ended 31 December 2024 ## **FAITH TABERNACLE UNITED PENTECOSTAL CHURCH** ## **CHURCH INFORMATION** **Charity Number** 1106678 **Trustees** Aubrey James Longmore Audrey Ann Marie Mcintosh Carlene Jennifer Parker Heather Derry-Welch **Registered Office** 124 Newport Road New Bradwell Milton Keynes MK13 0AA **Examiners** Trackrecords Managment Services Limited Unit 7 Cochran Close Crownhill Milton Keynes MK8 0AJ ## **FAITH TABERNACLE UNITED PENTECOSTAL CHURCH** ## **INCOME AND EXPENDITURE ACCOUNT** ## **FOR THE PERIOD 1st JANUARY 2024 TO 31st DECEMBER 2024** |**Notes**
INCOME
2
Other Operating income
Administrative expenses
OPERATING INCOME
3
Interest receivable
INCOME ON ORDINARY ACTIVITIES
BEFORE TAXATION
Tax on ordinary activities
4
INCOME ON ORDINARY ACTIVITIES (after tax)
RETAINED INCOME CARRIED FORWARD|**2024**
**£**
121,679
103,737
17,942
0
17,942
0
17,942
17,942|**2023**| |---|---|---| |||**£**
117,617
93,756| |||23,861
0| |||23,861
0| |||23,861
23,861| ## **CONTINUING OPERATIONS:** None of the church's activities were acquired or discontinued during the above financial period **………………………... Pastor** A Longmore ## **………………………….Treasurer** T Longmore ## **ACCOUNTANTS REPORT** We have prepared the above accounts without carrying out an audit and from information from Faith Tabernacle UPC's books and records and explanations supplied to us ## **Opinion** In our opinion, the financial statement give a true and fair view of the state of the charitable company's affairs as at 31st December 20234 and of its incoming resources and application of resources, including its income and expenditure, in the year that ended and have been properly prepared in accordance with the guidance of the Charities Commission. **FAITH TABERNACLE UNITED PENTECOSTAL CHURCH** ## **BALANCE SHEET** ## **AS AT 31ST DECEMBER 2024** |**AS AT 31ST DECEMBER 2024**|||| |---|---|---|---| |**Notes**
FIXED ASSETS
Tangible assets
5
CURRENT ASSETS
Debtors
6
Cash at bank and in hand
CREDITORS
7
Amounts falling due within one year
Net Current Assets/ (Liabilities)
CAPITAL & RESERVES
Called up share capital
8
Income & Expenditure reserve
Income and expenditure account
CHURCH MEMBERS FUNDS|**2024**
**2023**
**£**
**£**
**£**
**£**
1,140
1,519
496,341
477,522
496,341
477,522
0
0
0
0
496,341
477,522
497,481
479,041
**497,481**
**479,041**
0
0
479,539
455,180
17,942
23,861
**497,481**
**479,041**||**2023**| |||479,041|| |||**479,041**|| |||0
455,180
23,861|| |||**479,041**|| ||||| **………………………………………..Pastor** A Longmore **…………………………………………..Treasurer** T Longmore ## **FAITH TABERNACLE UNITED PENTECOSTAL CHURCH** ## **NOTES TO THE ACCOUNTS** ## **1. ACCOUNTING POLICIES** ## a) Basis of accounting The financial statements have been prepared under the historical cost convention. ## b) Depreciation Depreciation is provided on tangible assets at rates calculated to write off the cost of each asset over its expected useful life. The rates used on a reducing balance are as follows: Computer equipment 25% (100 FYA) where applicable Fixtures & fittings 25% ## **2. INCOME** Income includes the amount of offerings & tithes provided by members ## **PENSIONS** The church does not operate a pension scheme ## **3. OPERATING PROFIT** The operating profit is stated after charging: |Depreciation of tangible fixed assets
Pastors remuneration included
Pastors pension contributions|**2024**
**£**
477
0
0| |---|---| ||**477**| ## **4. TAX ON ORDINARY ACTIVITIES** This represents tax @0% based on excess income for the year on ordinary activities **FAITH TABERNACLE UNITED PENTECOSTAL CHURCH** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **5. TANGIBLE FIXED ASSETS** |**Cost**
1st January 2024 Additions
At 31st December 2024
**Depreciation**
Charge for the year
At 31st December 2024
**Net Book Value @ 31st December 2024**|**£**
1,617
0| |---|---| ||1,617| ||477
477| ||1,140| **The Church also has a cash building at Market Value of £260,000 as at 4th December 2018.** ## **6. Debtors** |Hardship Loans owed current period
Other Debtors
**Cash in Bank and in Hand**
Barclays Community Account
HSBC Building Fund Account
HSBC Current Account
Petty Cash
Depreciation deduction|0
0| |---|---| ||**0**| ||**£**
183,484.74
200,738.10
111,823.94
294.18
0.00| ||496,340.96| ## **7. CREDITORS-Amounts falling due within 1 year** |Tax
Trade Creditors
Social security and other taxes|**£**
0
0
0| |---|---| ||**0**| ## **8. CALLED -UP SHARE CAPITAL** |**Authorised**
0 ordinary shares of £0 each
**Allotted, called up and fully paid**
0 ordinary shares of £0 each|**£**
0| |---|---| ||0| ## **FAITH TABERNACLE UNITED PENTECOSTAL CHURCH** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **9. Reconciliation of movement in members funds** |Profit for the financial year
Dividends paid
Shares subscribed
Closing members funds|**£**
17,942
0| |---|---| ||17,942
0| ||**17,942**| ## **Depreciation** ## **EQUIPMENT** |**Desc.**
**Date bght**
Premier Computer Supply
Projector
Leaf Funiture
Sound Control
Vehicle
Talking Head Drums
Equipment
Sound Control
Vehicle
Equipment
Equipment
Sound Control
Equipment
Total|**Cost(BV)**
3.35
8.07
11.12
64.64
52.62
24.90
23.15
51.81
1,120.64
78.40
80.79
97.45|**Additions**|**Dep charge 24**
0.84
2.02
2.78
16.16
13.16
6.23
5.79
12.95
280.16
19.60
20.20
97.45
0.00|**NBV-24**
2.51
6.05
8.34
48.48
39.47
18.68
17.36
38.86
840.48
58.80
60.59
0.00
0.00| |---|---|---|---|---| |||0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00||| ||**1,616.94**|**0.00**|**477.32**|**1,139.62**| ## **FAITH TABERNACLE UNITED PENTECOSTAL CHURCH DETAILED INCOME & EXPENDITURE ACCOUNT FOR THE PERIOD 1st JANUARY 2024 TO 31st DECEMBER 2024** ## **£ £** ## **INCOME** Gift Aid 15,589.29 Building Fund 10,918.96 Tithes- Gift Aid 59,320.12 Tithes- Non Gift Aid 35,850.65 **121,679.02** ## **Expenditure** |Accountancy
Anglian Water
Bank Charge
Books
Cleaning
Donation
Employers PAYE Liability
Equipment Expensed
Fuel
General Expenses
Gift
Insurance
Legal Expenses
Light, Power & Heating
Postage
Printing & Stationery
Refreshment
Repairs & Maintenace
Salaries
Sanitary Care
Software & IT
Subscription
Telephone
Travel
UPC Donations
UPC Missions
UPC Offering
UPC Sunday School
UPC Tithes
UPC Youth
Visiting Minister
Website
Depreciation|1,800.00
375.25
391.97
598.25
1,880.00
1,080.00
7,145.80
589.47
388.71
354.59
3,836.00
1,611.82
250.16
2,445.95
93.55
1,353.15
2,244.24
7,087.14
52,155.24
877.73
770.83
17.98
4,469.86
2,588.40
1,000.00
1,083.30
200.00
110.50
1,930.00
110.50
4,200.00
219.59
477.32| |---|---| ||**103,737.30**| **NET PROFIT / LOSS FOR YEAR BEFORE TAXATION** **17,941.72** ## **ACCOUNTANTS REPORT** _We have prepared the above accounts without carrying out an audit and from information from Faith Tabernacle United Pentecostal Church's books and records and explanations suppplied to us._ Trackrecords Management Services Limited Unit 7 Cochran Close Crownhill Milton Keynes MK8 0AJ