Faith Temple Ministries (Faith Community Church)
Charity: 1111208
Trustees Report and Accounts
For the year ended 31 December 2024
Faith Temple Ministries Trustees Report and Financial Statements Year ended December 31st. 2024
Contents
| Page | |
|---|---|
| Statutory Information | 3 |
| Trustees Report | 4 |
| Independent Examiners Report | 6 |
| Statement of Financial Accounts | 7 |
| Balance Sheet | 8 |
| Notes to the financial statements | 9 - 13 |
Faith Temple Ministries Charity Registration No: 1111208
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Faith Temple Ministries Trustees Report and Financial Statements Year ended December 31st. 2024
Statutory Information
Faith Temple Ministries (operating as Faith Community Church) is a Charity registered with the Charity Commission of England and Wales - Registration No: 1111208
Faith Community Church operates as one Church with congregations meeting in Bedford and Cambridge
Registered Address 13 Bridle Drive Clapham, Bedford, MK41 6BB
Charity Registration Number: 1111208
Responsible Persons
Mr Daniel Brown Senior Pastor and Leader Mrs Ivylyn Mullings Pastor Cambridge Congregation Trustees Mr Daniel Brown Chair Peter Stapleton Advisors Bishop John Francis Pastoral Delroy Smith Business Peter Nembhard Pastoral Glynne Rowland Educational
Independent Examiner and Finance Advisor
Mervyn Thomas
Bankers
NatWest, Bedford
Faith Temple Ministries Charity Registration No: 1111208
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Faith Temple Ministries Trustees Report and Financial Statements Year ended December 31st. 2024
Annual Report for 2024
The Trustees present their Annual Report and financial statements for the Year ended 31 December 2024
Charitable Object
The objects of the trust are to advance the Christian faith in Bedford and other parts of the United Kingdom or the world as the trustees may from time to time think fit and to fulfil such other purposes which are exclusively Charitable according to the law of England and Wales and are connected with the charitable work of the trust and to relieve persons who are in conditions of need or hardship or who are aged or sick and to relieve the distress caused thereby in the said location and in such other parts of the United Kingdom or the world as the trustees may from time to time think fit.
Organisational Structure and Decision-making processes
The responsible persons meet together as a Church Leadership Team to manage the Church as a whole. Each Congregation (Bedford and Cambridge) in addition, has a congregational Leadership team to manage local meetings and ministry.
The Trustees meet on at least 3 occasions in the year to consider Trust matters - mainly finance and the building project. The Church has policies covering Children, Vulnerable Adults, Health and Safety, Financial Reserves, Conflicts of Interest and Data Protection.
Public Benefit Statement
The Church provides opportunities for Christian worship on a weekly basis to which all members of the public are welcome. In addition, a number of activities for people of all ages are offered that are again open to the public and provide opportunities for the building of relationships and instruction in the essentials of the Christian faith. The church has been involved in supporting the homeless and other disadvantaged groups through food supplies, and children's activities, which range from moral to sports and art development. House and hospital visits that aim to support families and individuals as well as supporting other organisations that are involved in national and international aid support.
Membership of the Church is open to all who profess Jesus Christ as Lord and Saviour and the principle of Believers’ Baptism by immersion is promoted among the membership and is continued by regular discipleship training that corresponds with St Matthew 28:19-20. The Trustees have read the Charity Commission guidance on public benefit, and are satisfied that the activities outlined above clearly demonstrate that the charity is meeting its Purpose and is providing a benefit to the public.
Achievements in the year
Church meetings went on as normal for the year 2024, we continue discipling believers, baptising and receiving new members into the growing FCC family. Starting the off with a time of consecration and preparation through prayer and fasting as well as our annual training day in February and a follow-up later in the year; in these days, we are able to look at the important aspects of running the organisation, including operations, safeguarding, community engagement, health & safety, mental health, the importance of networking and building healthy relationships just to name a few.
Faith Temple Ministries Charity Registration No: 1111208
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Faith Temple Ministries Trustees Report and Financial Statements Year ended December 31st. 2024
We continue to organise more social activities such as a bowling night, joint activities with our Cambridge branch, a Family Fun/Sports Day and a Cultural Day to celebrate the diversity in our community. Various summer and Christmas gatherings and fellowship meals especially in the revived Men's Ministry ‘MENtor’. We have also enjoyed several joint services with various churches in Bedford, in particular hosting Mission24 for a week-long time of street evangelism and evening services.
Due to the financial pressure of our building project, we continue to concentrate our charitable efforts on sponsoring local charities, supporting families, single parents, vulnerable individuals and older people who have been struggling with the rise in the cost of living, by providing shopping, helping with energy bills and arranging services such as physiotherapy or housekeeping.
Our social media presence continues to be an important part of what we do as a church: having accounts on all major social media platforms, which continues to help make the Organisation and its activities much more visible.
The website we launched in January 2023 continues to give a better reflection of who we are and what we do and conveying our vision, plans and initiatives much more effectively.
The above activities are largely led and staffed by our volunteers: without their commitment and sacrificial giving of their time, the Organisation would be unable to function.
The Church’s policy is to hold not more than 3 months of committed charitable expenditure as a General Reserve. From time to time, the trustees will transfer General Reserves to Restricted Reserves to the Building Fund, when possible.
Volunteers
The above activities are largely led and staffed by volunteers, and the church would be unable to function without their commitment and often sacrificial giving of time.
Financial Review
Significant efforts have been made this year in regard to our building development which is progressing well, although slower than we had wished. The key financial indices are mentioned here but please see the full financial statements on Pages 8 and 9 for the details.
| Key Financial Indices | 2024 | 2023 |
|---|---|---|
| Income | 68,747 | 64,830 |
| Expenditure | 116,322 | 87,272 |
| Total Net Funds | 19,790 | 67,365 |
During the year the church spent £70,737 on our building programme which was partially funded by current income plus an additional mortgage of £55,668 net of repayments.
The estimated cost to complete as at January 2025 is estimated to be £350,000 and to make this happen, we have set up a ‘fundraiser’ for an additional £33,000 which will help complete phase 1 of the entire building project, Phase 2 will continue once Phase 1 is complete. We are planning, as funds allow, to have phase 1 of the building completed and to be habitable by spring 2026 at which time we will have the building re-valued. The entire project is being self-managed and we wish to acknowledge the senior pastor Daniel Brown who has taken on the role of project manager with a small building project team who carry out different aspects of building and administrating the ongoing work.
Faith Temple Ministries Charity Registration No: 1111208
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Faith Temple Ministries Trustees Report and Financial Statements Year ended December 31st. 2024
Reserves Policy:
Our reserves policy is to hold a minimum of 3 months' general expenditure as free reserves in the general account and to designate any accumulated excess to our designated Buildings reserve fund. As the current building development comes to a conclusion the asset will be revalued with a positive impact on reserves.
Approved by the Trustees and signed on their behalf.
Daniel Brown 19 March 2025
Faith Temple Ministries Charity Registration No: 1111208
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Faith Temple Ministries Trustees Report and Financial Statements Year ended December 31st. 2024
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF Kingdom Impact Grants
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 August 2022 which are set out on pages 7 – 13
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the 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 Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with my examination which gives me cause to believe that in, any material respect:
-
1) the accounting records were not kept in respect of the charity as required by section 130 of the Act;
-
2) accounts do not accord with those records, or
-
3) The accounts do not comply with the applicable requirements concerning the form and content of account as set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
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 accounts to be reached.
Signed:
Mervyn Thomas Dated: 22/03/2025 128 Putnoe Lane Bedford MK41 8LS
Faith Temple Ministries Charity Registration No: 1111208
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Faith Temple Ministries Trustees Report and Financial Statements Year ended December 31st. 2024
STATEMENT OF FINANCIAL ACTIVITIES
| Notes Incoming Resources Voluntary Income Income from Investments Total Incoming Resources 3 Resources Expended Charitable activities Total Resources Expended 4 Net income/(expenditure) Transfers between funds Gains on Building valuation Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted Restricted Capital Total Funds Total Funds Funds Fund Fund 2024 2023 £ £ £ £ £ |
|---|---|
| 45,120 23,472 - 68,592 64,560 |
|
| - 155 - 155 267 |
|
| 45,120 23,627 - 68,747 64,830 |
|
| 45,151 70,371 800 116,322 87,272 |
|
| 45,151 70,371 800 116,322 87,272 |
|
| (31) (46,744) (800) (47,575) (22,442) |
|
| (23,183) 23,183 - - |
|
| - | |
| (23,214) (23,561) (800) (47,575) (22,442) |
|
| 58,317 (114,411) 123,459 67,365 89,807 |
|
| 35,103 (137,972) 122,659 19,790 67,365 |
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Faith Temple Ministries Charity Registration No: 1111208
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Faith Temple Ministries Trustees Report and Financial Statements Year ended December 31st. 2024
BALANCE SHEET
| Notes Fixed assets 5 Property Equipment Total fixed assets Current assets HMRC Debtor 6 Cash at bank and in hand Total current assets Liabilities < 1 Year 7 Liabilities > 1 Year 7 Total Net Assets less liabilities Represented by: Charity Funds 8 Endowment funds Restricted income funds Unrestricted funds Total funds |
Unrestricted Restricted Capital Total Total funds funds fund 2024 2023 £ £ £ £ £ |
|---|---|
| - 121,866 121,866 121,866 |
|
| - - 793 793 1,593 |
|
| - - 122,659 122,659 123,459 |
|
| 1,470 - - 1,470 1,068 |
|
| 34,307 6,235 - 40,542 32,052 |
|
| 35,777 6,235 - 42,012 33,120 |
|
| (675) - - (675) (675) |
|
| - (144,207) - (144,207) (88,539) |
|
| 35,102 (137,972) 122,659 19,789 67,365 |
|
| 122,659 122,659 123,459 |
|
| (137,972) (137,972) (114,411) |
|
| 35,103 35,103 58,317 |
|
| 35,103 (137,972) 122,659 19,790 67,365 |
Approved by the Trustees and signed on their behalf.
Daniel Brown 19 March 2024
Faith Temple Ministries Charity Registration No: 1111208
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Faith Temple Ministries Trustees Report and Financial Statements Year ended December 31st. 2024
Notes to the Financial Statements
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
1.1 General information and basis of preparation
Faith Temple Ministries is a Charitable Trust in England.
The accounts (financial statements) have been prepared in accordance with the 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 issued in October 2019 (FRS 102), the Charities Act 2011 and the UK Generally Accepted Accounting Practice.
The charity constitutes a public benefit entity as defined by FRS 102.
The accounts are prepared on a going concern basis under the historical cost convention. The accounts are presented in sterling which is the functional currency of the charity and are rounded to the nearest whole £.
1.2 Changes to accounting estimates
No changes to accounting estimates have occurred in the reporting period (3.46 FRS 102 SORP).
2. ACCOUNTING POLICIES
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the period.
2.1 Fund accounting
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity. Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal. Transfers are made from unrestricted to restricted funds as necessary to prevent restricted funds from going into deficit.
2.2 Incoming resources
All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity becomes entitled to the income if it is more likely than not that it will receive the resources and the amount can be quantified with reasonable accuracy. Voluntary income is received by way of donations and gifts and is included in full in the SoFA when receivable. Grants are included in the SoFA when the general income recognition criteria above are met. The value of services provided by volunteers has not been included in these accounts. Investment income is included when received.
2.3 Resources expended
Expenditure is recognized on an accrual basis as a liability is incurred. Expenditure includes any VAT that cannot be fully recovered, which is reported as part of the expenditure to which it relates.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the charity’s legal constitution.
Faith Temple Ministries Charity Registration No: 1111208
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Faith Temple Ministries Trustees Report and Financial Statements Year ended December 31st. 2024
2.4 Debtors
Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amounts advanced by the charity. Subsequently, they are measured at cash or other consideration expected to be received.
2.5 Creditors
Creditors and accruals are recognized when liability for payment is recognized but not paid
3.1 ANALYSIS OF INCOME
| Unrestricted Restricted Capital Total Funds Total Funds Funds Funds Fund 2024 2023 £ £ £ £ £ 40,204 22,438 - 62,642 58,257 4,916 1,034 - 5,950 6,303 45,120 23,472 - 68,592 64,560 |
|
|---|---|
| Voluntary Income | |
| Donations | |
| Gift Aid | |
| Total Voluntary Income | |
| Income from Investments | - |
| Interest | - 155 - 155 267 |
| Total Income from Investments | - 155 - 155 267 |
| Grand Total Incoming Resources | 45,120 23,627 - 68,747 64,827 |
3.2 ANALYSIS OF INCOME comparison for Prior Year 2023
| Unrestricted Restricted Capital Total Funds Total Funds Funds Funds Fund 2023 2022 £ £ £ £ £ 50,917 7,341 - 58,258 42,773 4,990 1,313 - 6,303 9,532 55,907 8,654 - 64,561 51,305 |
|
|---|---|
| Voluntary Income | |
| Donations | |
| Gift Aid | |
| Total Voluntary Income | |
| Income from Investments | - |
| Interest | 267 - - 267 154 |
| Total Income from Investments | 267 - - 267 154 |
| Grand Total Incoming Resources |
56,174 8,654 - 64,828 51,459 |
Faith Temple Ministries Charity Registration No: 1111208
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Faith Temple Ministries Trustees Report and Financial Statements Year ended December 31st. 2024
4.1 ANALYSIS OF EXPENDITURE
| Unrestricted Restricted Capital Total Funds Total Funds Funds Funds Fund 2024 2023 £ £ £ £ £ |
|
|---|---|
| Expenditure on Charitable Activities |
|
| Pastoral Remuneration | 8,900 8,900 9,133 657 657 690 2,313 2,313 5,040 4,835 4,835 6,142 6,645 6,645 7,708 5,242 5,242 5,240 |
| Visiting Ministry | |
| Travel and Training | |
| Premises Rent | |
| Costs of Meeting | |
| Office, Licenses and Fees | |
| Expensed Building Development | 7,481 69,171 76,652 45,506 |
| Professional property fees | 68 1,200 1,268 - - 20 - 800 800 850 7,743 7,743 5,881 276 276 892 892 752 - - - - 99 99 310 |
| Equipment and Repairs | |
| Equipment Depreciation | |
| Mortgage Interest and Fees | |
| Pastoral | |
| Donations (Out) | |
| Bank Charges | |
| Independent Examiination | |
| Publicity | |
| TOTAL EXPENDITURE | 45,151 70,371 800 116,322 87,272 |
4.3 Expenditure Disclosures
No employees received salaries or employee benefits (excluding employer pension costs) for the reporting period of more than £60,000
Employment consisted of 2 part-time pastors who were engaged to maintain charitable activities.
No Trustee received expenses in connection with Trustee governance responsibilities.
The Independent examiner provided accounting services and systems in addition to the independent examination
Faith Temple Ministries Charity Registration No: 1111208
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Faith Temple Ministries Trustees Report and Financial Statements Year ended December 31st. 2024
5. FIXED ASSETS
| 5. FIXED ASSETS | |
|---|---|
| 2024 2024 2024 |
|
| Freehold Land Equipment Total |
|
| and Buildings | |
| Cost or valuation | £ £ £ |
| Brought Forward | 121,866 3,399 125,265 |
| Disposals | - - - |
| Additions | - - |
| Carried Forward | 121,866 3,399 125,265 |
| Cumulative Depreciation at Rate: Brought Forward Depreciation In the year Carried Forward Net Fixed Assets |
0% 25% 1,806 1,806 800 800 2,606 2,606 |
| 121,866 793 122,659 |
6. DEBTORS AND PREPAYMENTS
| Analysis of debtors less than 1 year Gift Aid Receivable Total 7.1 LIABILITIES < 1 Year Accruals Trade Creditors Total 7.1 LIABILITIES > 1 Year Mortgage |
2024 2023 |
|---|---|
| £ £ |
|
| 1,470 1,068 |
|
| 1,470 1,068 |
|
| 2024 2023 |
|
| 675 675 |
|
| - - |
|
| 675 675 |
|
| 2024 2023 |
|
| 144,207 88,539 |
Faith Temple Ministries Charity Registration No: 1111208
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Faith Temple Ministries Trustees Report and Financial Statements Year ended December 31st. 2024
8. CHARITY FUNDS
8.1 Details of All Funds with movements during the CURRENT reporting period 2024
| Fund | Opening Income Expenditure Transfers Closing |
|---|---|
| Balance Balance |
|
| Unrestricted Funds Building Project/Fund |
58,317 45,120 (45,151) (23,183) 35,103 |
| (114,411) 23,627 (70,371) 23,183 (137,972) |
|
| Capital Fund | 123,459 - (800) 122,659 |
| Total Funds | 67,365 68,747 (116,322) - 19,790 |
8.2 Reasons for Fund Transfers 2024
| Reason | From Fund | To Fund | Amount |
|---|---|---|---|
| Designation | Unrestricted | Building Project | £23,183 |
8.3 Details of All Funds with movements during the PREVIOUS reporting period 2023
| Fund | Opening Income Expenditure Transfers Closing |
|---|---|
| Balance Balance |
|
| Unrestricted Funds Building Project/Fund |
53,975 46,109 (41,767) 58,317 |
| (87,628) 18,720 (45,503) (114,411) |
|
| Capital Fund | 74,309 - (850) 123,459 |
| Total Funds | 40,656 64,829 (88,120) - 67,365 |
Faith Temple Ministries Charity Registration No: 1111208
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