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← Shofar Christian Church Ltd

2023-12-31-accounts

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SHOFAR CHRISTIAN CHURCH LTD

Report and Accounts

year ended 31 December 2023

SHOFAR CHRISTIAN CHURCH LTD

COMPANY INFORMATION

FOR THE 12 MONTHS ENDED 31 DECEMBER 2023

Directors/Trustees H Titus N Bain S Mazibuko (resigned April 2024) S Stobar (appointed May 2024) E de Waal (resigned March 2023) Key Staff H Opperman M Opperman Governing Document Memorandum and Articles of Association Dated 28 June 2005. Amended May 2009 and July 2020 Company Registration Number 05493001 Charity Registration Number 1111629 Registered Office 120 Busbridge Lane Godalming GU71QJ Independent Examiner Stephen Mathews FCA Stewardship 1 Lamb's Passage London EC1Y 8AB Bankers HSBC PUTNEY SW 172 Upper Richmond Rd SW15 2SH

Contents Page
Company Information 1
Trustees' Annual Report 2-6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Accounts 10-16
Detailed Statement of Financial Activities with Comparatives 17

Page 1

SHOFAR CHRISTIAN CHURCH LTD

TRUSTEES' ANNUAL REPORT

(INCORPORATING Trustees' REPORT)

FOR THE 12 MONTHS ENDED 31 DECEMBER 2023

Shofar Christian Church Ltd (the Church), is registered with the Charity Commission in England and Wales (number 1111629) and is a Private Limited Company, governed by its Memorandum and Articles of Association and operates under the name of Shofar UK. The Trustees are collectively referred to as the Trustees in this report.

The Trustees present their report, incorporating the strategic report, together with the financial statements of the Church, for the period from 1 January 2023 to 31 December 2023.

Structure, Governance and Management

The organisational and management structure for this Church is built around accountability, transparency and communication. To achieve this, the Trustees includes members who represent the spirit, ethos and character of what the Church stands for and believes in and ensures an overall, holistic diagnosis of the Church’s health and vitality.

Responsibility for setting policy and making operating decisions rests with the Trustees who meet regularly to monitor the activities of the Church. Responsibility for the day to day operations of the Church has been delegated to a pastoral team. New trustees are recruited and appointed by the existing trustees, by a majority vote.

Strategic report

Objectives and Activities

The charity is a charitable company and is governed by its memorandum and articles of association. The objects of the charity, as set out in the governing document are:

a) advance the Christian faith,

b) advance education in accordance with Christian principles,

c) relieve persons who are in conditions of need or hardship.

The Trustees observe that the Church is a collection of common people from all walks of life, transformed by the life-altering work of God's Son, Jesus Christ, rather than a physical structure. According to the New Testament, the Church was a group of individuals who were welltaught and looked after, and who, in addition to loving and serving Jesus Christ, were dedicated to looking out for one another and being a blessing to their community. The elders, members, and trustees of Shofar Christian Church are dedicated to restoring those New Testament values. It is only one of many churches in the region, the nation, and the globe that are rediscovering the joy of knowing Jesus Christ. It is not alone in this. The goal is to see as many people as possible in London, the United Kingdom, and other countries come to know Jesus as their Lord, Saviour, and friend. Our mission at Shofar UK is to make it possible for as many people as possible to join their local congregation and worship at our church. On Sundays, services are held at the Shofar Christian Church.

As alluded to in the 2022 report, the church began meeting in Merton Park Baptist Church in Raynes Park from December 2023, replacing its previous location at Hillside Church in Wimbledon. As Trustees, we agreed this was the best course of action for Shofar UK in accordance with its stated goal of spreading the faith. The new facility heralded a new season for the church's outreach focus for the borough of Merton, London, and beyond, while also enabling deeper fellowship within the current church.

Looking back on the events of 2023, Shofar UK can today be proud of the strides it has made in transforming its community, growing as a community, and living to witness God's Kingdom come to earth. Shofar UK kept up its major activities while launching new ones as part of its goal to reach people in all nations and generations. Among the principal things we did were:

Page 2

SHOFAR CHRISTIAN CHURCH LTD

TRUSTEES' ANNUAL REPORT (INCORPORATING Trustees' REPORT)

FOR THE 12 MONTHS ENDED 31 DECEMBER 2023

The church reaffirmed its commitment to and involvement in The Turning Mission, a program led by The Gate Church in Reading that equips individuals and churches with the discipleship tools required to spread the gospel in their communities. This enabled Shofar UK to develop further in the areas of outreach and engagement, evangelism and evangelism training, and church partnership across denominations throughout the United Kingdom. In addition to bolstering Shofar UK's basic values—which are to reach nations and generations through leadership development, church planting, and disciple-making—we think this partnership gives this church a clear purpose in the modern world: to work in tandem with the larger body of Christ in pursuing a shared objective—that is, to make disciples of Jesus. As part of a team that organised weekly outreach events in Wimbledon, Shofar UK members contributed their dedication as people who care about the lost and the gospel of truth. In addition to being driven by a divine conviction to start a church in Guildford, the church broadened its mission to encompass these initiatives because they embodied the movement's ethos and goal of bringing the gospel to every corner of the globe.

Achievements and Performance

The Trustees appreciate that despite the challenge of practical obstacles, Shofar UK has been able to perform effectively and fulfill expectations in terms of the aims, dreams, and visions that have been placed before it. New initiatives have remained steadfast and are yielding fruit. We continue to see people step forward and support various church activities, including outreach and evangelism, worship, Kids Church, audio and visual, hospitality, and intercession.

• We began 2023 with 21 days of prayer and consecration, focusing on God and His plans for the year ahead. This was followed summarily by our annual global prayer and fast; a concentric activity focus across the global Shofar community, which is elemental to the expression of our faith in God

• We completed another year of online Bible School jointly with our European counterpart, Shofar Utrecht in the Netherlands. This perennial activity develops supportive cross-cultural working relationships within the broader Shofar family, as well as deepening individual and corporate faith through the shared experience of studying God's word

Page 3

SHOFAR CHRISTIAN CHURCH LTD

TRUSTEES' ANNUAL REPORT (INCORPORATING Trustees' REPORT)

FOR THE 12 MONTHS ENDED 31 DECEMBER 2023

Most the Church's activities are undertaken by volunteers and the Church could not operate effectively without their efforts. In planning the activities the Trustees have applied the guidance on public benefit issued by the Charity Commission.

Plans for the future

We maintain our belief that there will be a new season for Shofar Christian Church UK, and the move to a new location in Merton Park Baptist Church is an integral part of God's plan for His church. The practical difficulties this church faces and the ensuing learning opportunities are covered in greater detail in the remaining sections of this report. Although those difficulties have arisen in the past, we can confirm that this church’s future depends on its ability to learn and grow in all areas. We firmly believe that stability is essential, and our plans aim to achieve this objective. We’re committed to taking lessons from both our setbacks and victories. We are determined to follow the Lord wherever He leads and remain unwavering in our pursuit of Him in everything we do.

Financial review and Going Concern

Donations received during the period were £60,000 (2022 £66,000), plus a further £8,000 (2022 £6,800) of income arising from the activities undertaken. The Trustees are grateful for the handful of faithful givers during this period maintaining their support in the midst of significant cost of living issues, as well as the ongoing generosity from Shofar Utrecht (Netherlands), helping the Church through this difficult period.

Expenditure was only slightly increased at £77,800 ( 2022 £76,600) despite the ongoing inflationary increases in the UK. Further saving were made on office and venue rental costs.

Whilst this outcome resulted in a deficit for the year, the church was financially supported by key staff lending back some of their salary to ensure the charity continued to be able to pay its operating costs as they fall due. This loan back to the church has subsequently tunred into a gift to further help the church operate and achieve its charitable objects.

The position of the church finances remains a significant concern although the Church is currently able to both pay the current levels of operating costs but also meet its debts as they fall due under agreed arrangements. At the year end the church had net liabilities of approximately £4,000. As noted above and in Note 9 to the accounts the net liabilities include an amount of just over £6,000 due to the key staff, Hercules and Melanie Opperman, who after the year end waived this debt due to them in order to release funds for other operating ministry costs.

In 2024, the church has continued to reduce salary costs with the key staff having a commitment to waive salaries to the extent needed to enable the church to be able to operate satisfactorily. There are also continued commitments to support the church from Shofar Utrecht (Netherlands).

Reserves policy

The Trustees recognise the importance of restoring the reserves of The Church. Various measures implemented historically and continued in the current year to appropriately reduce the cost structure. Initiatives continue to ensure that an appropriate cost structure is in place to commensurate with current income levels.

Due to the challenging financial situation of the last 5 years, it has not been possible to rebuild the reserves to an appropriate level. The leadership closely manages the expenditures dependent upon income and, taken together with the commitment to ongoing support from other Shofar congregations, the Church can be managed on very low levels of operating reserves. Debts are being paid as they fall due or as agreed with suppliers.

Page 4

SHOFAR CHRISTIAN CHURCH LTD

TRUSTEES' ANNUAL REPORT (INCORPORATING Trustees' REPORT)

FOR THE 12 MONTHS ENDED 31 DECEMBER 2023

Key risks and uncertainties

As with the previous year's report, primary concerns for the Church are debt control and financial independence. The ambiguities around stability and strength of finances continue to pose inevitable difficulties. Despite the challenges posed by financial limitiations, the Church continues to fulfil its mission and goal of serving the community and establishing new churches and congregations. The objective to serve as a base church and develop leaders to establish new churches and share the gospel globally has not changed. Shofar UK is fortunate to have the support of the greater network of churches based out of South Africa, and our neighbouring church in Utrecht, Netherlands. Where such assistance extends to financial contributions, it is always greatly appreciated and affirms God's commitment to use the body of Christ to fulfill his purposes. Nevertheless, we extend our faith and prayers to trust God for opportunities to grow in financial independence.

As confessed Spirit-filled believers we rely strongly on God's leading through the revelation of His word. By this standard we seek to align our faith with our understanding of the character of God, and any expectations are subject to the knowledge that He is sovereign. Evidently, there is a significant degree of risk involved in operating a church with a small congregation and very limited resources. However, it is required of us to offer God only what we have in our hand; by faith we place our limited human capabilities into the hands of our heavenly Father who has unlimited authority, power and resources.

Our hope is to be able to bless others in the same way that we have been blessed. As a church, we recognise the apparent practical difficulties of operating a ministry without a designated office space or staff. This puts the church at risk because volunteers handle the organization's work, and must balance the demands of the church with depth and skill, alongside any personal needs or issues they may be dealing with.

We acknowledge this difficulty with soberness and do not wish to establish this model as the perfect form of government, but we also recognise that in order for the church to thrive in spite of these shortcomings, it must establish a strong internal support system and maintain effective lines of communication. As Trustees, we recognise this as a prayerful area of development for the church. The Trustees accept responsibility for the church’s present financial predicament and pledge to pray and look for answers that will benefit the congregation, staff, volunteers, and ministers.

We give thanks to the Lord because He has been faithful in guiding Shofar UK through many trials and financial difficulties.

Responsibilities of trustees under company law

The Trustees are responsible for preparing the Trustees' annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing these financial statements, the trustees are required to:

Page 5

SHOFAR CHRISTIAN CHURCH LTD

TRUSTEES' ANNUAL REPORT

(INCORPORATING Trustees' REPORT)

FOR THE 12 MONTHS ENDED 31 DECEMBER 2023

Responsibilities of trustees under company law (continued)

  1. select suitable accounting policies and apply them consistently;

  2. observe the methods and principles in the Charities SORP;

  3. make judgements and estimates that are reasonable and prudent;

  4. state whether the applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

  5. prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approval

This report, which has been prepared in accordance with the provisions of the Companies Act 2006 relating to small companies, was approved by the Trustees and signed on their behalf by:

S Stober

_______S Stobar S Stober (Sep 19, 2024 14:55 GMT+2)

Date: Sep 19, 2024

Page 6

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF

SHOFAR CHRISTIAN CHURCH LTD ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the period ended 31 December 2023 on pages 8 to 17 following, which have been prepared on the basis of the accounting policies set out on pages 10 to 12.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company 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 your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the 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:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

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.

The charity ended the year with net current liabilities of approximately £4,000 and there is material uncertainty as to whether the charity is a going concern. I draw attention to Note 2a to the accounts and section headed 'Financial review and Going Concern' in the directors' annual report, which sets out the directors' reasons for believing that the charity can continue to operate and for using the going concern basis in the preparation of these financial statements. On the basis for these representations, and after considering the directors' plans and expectations, I have not modified my statements in paragraphs 3 and 4 above in respect of this matter.

Other than the matter referred to in the above paragraph, 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.

S H Mathews S H Mathews (Sep 20, 2024 12:28 GMT+1)

Stephen Mathews FCA

Sep 20, 2024

Stewardship 1 Lamb's Passage London EC1Y 8AB

2024

Page 7

SHOFAR CHRISTIAN CHURCH LTD

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE 12 MONTHS ENDED 31 DECEMBER 2023

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Charitable activities
4
Total income and endowments
EXPENDITURE ON:
Charitable activities
5
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
11		 Unrestricted
Funds
£
59,508
8,062
67,570
75,304
75,304
(9,347)
2,833
(6,515)		 Restricted
Funds
£
369
-
369
2,510
2,510
(528)
2,933
2,405
2023		 Total
Funds
£
59,876
8,062
67,939
77,814
77,814
(9,875)
5,766
(4,109)		 2022
Total
Funds
£
66,306
6,864
73,170
76,623
76,623
(3,453)
9,219
5,766

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

All income and expenditure derive from continuing operations.

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

The notes on page 10-16 form part of these accounts.

Page 8

SHOFAR CHRISTIAN CHURCH LTD

BALANCE SHEET

AS AT 31 DECEMBER 2023

Note
CURRENT ASSETS
Debtors
7
Cash at bank and in hand
8
CREDITORS: Amounts falling
due within one year
9
Net current assets / (liabilities)
TOTAL NET ASSETS
FUND BALANCES
11
Unrestricted Funds
General funds
Restricted Funds		 Unrestricted
Restricted
Funds
Funds
£
£
8,621
-
(735)
2,406
7,886
2,406
(14,401)
-
(6,515)
2,406
(6,515)
2,406
(6,515)
-
(6,515)
-
-
2,406
(6,515)
2,406
31 December 2023		 Total
Funds
£
8,621
1,670
10,292
(14,401)
(4,109)
(4,109)
(6,515)
(6,515)
2,406
(4,109)		 31 December 2022
Total
Funds
£
8,089
3,343
11,432
(5,666)
5,766
5,766
2,833
2,833
2,933
5,766

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006 however, in accordance with Section 145 of the Charities Act 2011, the accounts have been examined by an independent examiner and their report has been included in these financial statements.

The directors (who are the charitable company's trustees for the purposes of charity law) acknowledge their responsibilities for:

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on and were signed on its behalf by: Sep 19, 2024

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S Stober
S Stober (Sep 19, 2024 14:55 GMT+2)
---------------------------------------
S Stobar
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Company number: 05493001

Charity number: 1111629

The notes on page 10-16 form part of these accounts.

Page 9

SHOFAR CHRISTIAN CHURCH LTD

NOTES TO THE ACCOUNTS

FOR THE 12 MONTHS ENDED 31 DECEMBER 2023

1 Statutory Information

The charity is a charitable company limited by guarantee and is incorporated in the United Kingdom. The company's registered number and registered office address can be found on the Company Information page.

2 Accounting Policies

These financial statements are prepared on a going concern basis, under the historical cost convention.

These financial statements have been prepared in accordance with the "Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102"), with the Companies Act 2006 and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.

The principles adopted in the preparation of the financial statements are set out below.

a) Going concern

The trustees (who are the charitable company's directors for the purposes of company law) have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements. In making this assessment the trustees have considered how Covid-19 might affect projections.

The Church has ended the year with total net liabilities of approximately £4,000. As detailed in the Trustees annual report and in Note 9 to the accounts, approximately £6,000 of the liabilities were due to key staff. Subsequent to the year end the debt was waived by the key staff to enable funds to be used on other church operating costs and the Trustees are confident that the charity will be able to continue to operate and the financial statements have been prepared on the going concern basis. Measures are being taken to further reduce expenditure and increase income and the Trustees are confident that the Church will be able to improve net total assets over the next year. In the interim the Trustees are monitoring cash flows and will, if the need arises, liaise with other Shofar member churches for further support, so that the charity is able to settle its liabilities as they fall due.

b) Income

Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.

Income from donations and legacies includes:

The charity relies on volunteers to carry out many of its activities. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.

When donated goods, services and facilities are distributed or consumed, an expense in respect of those items is included in the Statement of Financial Activities. At the year end any goods that have not been distributed or consumed are recognised as stock; donated fixed assets are capitalised.

Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity's charitable objects. It includes income from church retreats and other events and courses.

Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Page 10

SHOFAR CHRISTIAN CHURCH LTD

NOTES TO THE ACCOUNTS

FOR THE 12 MONTHS ENDED 31 DECEMBER 2023

The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.

The cost of raising funds is not significant and has not been separately disclosed.

Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.

d) Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.

e) Tangible fixed assets

Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £1,000 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective the following rates of depreciation are charged:

Motor vehicles 25% reducing balance Furniture and office equipment 25% straight line

The carrying values of tangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate that the carrying value may not be recoverable.

g) Leased assets

Leases which do not transfer substantially all the risks and rewards of ownership to the charity are classified as operating leases. Operating lease payments are recognised as an expense on a straight-line basis over the lease term (unless another systematic basis is more representative of use).

Receipts of lease incentives are spread on a straight-line basis over the term of the lease; at the balance sheet date the amount of the incentive to be allocated to future accounting periods is carried forward as deferred income.

h) Pension scheme arrangements

The charity operates defined contribution pension schemes for its employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds.

The company is a registered charity; it has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.

The charity's financial assets and financial liabilities all qualify as basic financial instruments, as defined by FRS102. Except for loans, creditors and debtors are measured at their expected settlement value (normally the amount of cash that the charity expects to pay or receive). The charity recognises liabilities for the principal of those loans that remains outstanding at the year end (i.e. the liabilities exclude any interest chargeable on the loans in future years).

Page 11

SHOFAR CHRISTIAN CHURCH LTD

NOTES TO THE ACCOUNTS

FOR THE 12 MONTHS ENDED 31 DECEMBER 2023

k) Foreign currency translation

These financial statements are presented in sterling, which is the charity's functional currency.

iii) Non-monetary assets are measured at historic cost at the rate of exchange prevailing on the date of the transaction and are not subsequently re-translated.

All differences arising from the application of the above policy are charged (or credited) to the Statement of Financial Activities.

l) Exemption from preparing a cashflow statement

The charity has taken advantage of an exemption conferred by the Charities SORP and has not prepared a cash flow statement.

m) Critical accounting estimates and areas of judgement

The trustees do not consider that there are any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period.

3 Donations and legacies

ations and legacies
Donations of cash and similar
Other grants receivable
Income tax recoverable		 2023
£
44,476
4,400
11,000
59,876		 2022
£
51,811
4,050
10,445
66,306
4
Income from charitable activities
Church retreats and events
Consultancy and training services
5
Charitable expenditure
a
Costs incurred directly on specific activities
Salaries, travel and expenses
Sunday venue, office rent & council taxes
Church running costs
Education Ministry
Missions Ministry		 2023
£
874
7,188
8,062
2023
£
51,597
5,839
13,085
493
1,902
72,917		 2022
£
574
6,290
6,864
2022
£
48,506
9,650
13,649
397
236
72,438

Page 12

SHOFAR CHRISTIAN CHURCH LTD

NOTES TO THE ACCOUNTS

FOR THE 12 MONTHS ENDED 31 DECEMBER 2023

b Costs incurred on support & administration

Governance costs
Accounts and Independent examination
Printing, postage and stationery
Office supplies
Sundry expenses
Telephone
Bank fees
Insurance
Total expenditure		 1,674
1,674
1,460
277
209
585
234
458
4,896
77,814		 1,720
1,720
1,441
12
180
95
367
369
4,185
76,623

The fee payable to the independent examiner for examining and assistance on the accounts was £1,680 (2022: £1,600).

6 Analysis of staff costs, the cost of key management personnel and trustee remuneration and expenses

Gross wages and salaries
Social security
Pension costs		 2023
£
50,000
205
1,392
51,597		 2022
£
45,600
1,538
1,368
48,506

The average monthly number of employees during the year was 2 (2022: 1). Most of the charity's activities are carried out by volunteers.

No staff received salaries at a rate of more than £60,000 per annum.

Key management staff comprises of H Opperman, who was employed as senior pastor and received employment benefits n the year totalling £43,600 (2022: £45,600) and pension contributions of £1,308 (2022: £1,368) and Melanie Opperman, employed as associate pastor from February 2023 with employment benefits in the year of £6,400 and pension contributions £84.

No trustees received employment benefits in either the current or preceding year.

7 Debtors

Falling due within one year:
Tax recoverable
Funds held by Shofar South Africa
Other loans
Other Receivables
Falling due after one year
Staff loan
Total debtors		 2023
£
2,539
546
-
3,084
5,537
5,537
8,621		 2022
£
353
-
-
899
1,252
6,837
6,837
8,089

The Church had made an interest-free staff loan to Hercules Opperman, pastor of the church and a key member of staff. The loan was for £6,846 and is repayable by instalments. By December 2023 it had been reduced to £5,537 and was fully repaid by 31 August 2024. The loan is secured by guarantees from Shofar Netherlands and Shofar South Africa. See also Note 9.

Page 13

SHOFAR CHRISTIAN CHURCH LTD

NOTES TO THE ACCOUNTS

FOR THE 12 MONTHS ENDED 31 DECEMBER 2023

8 Cash at Bank and in Hand

at Bank and in Hand
Cash at bank with immediate access
itors: liabilities falling due within one year
Trade creditors
Other creditors
Accruals		 2023
£
1,670
1,670
2023
£
4,180
6,292
3,930
14,401		 2022
£
3,343
3,343
2022
£
3,800
-
1,866
5,666

9 Creditors: liabilities falling due within one year

The 'other creditors' represents undrawn salaries due to staff. During the year the key staff, Hercules and Melanie Opperman, did not draw all the salary due to them, in order to help the church fund its other operating costs as they fell due. Subsequent to the year end, in discussion with the Trustees, the key staff have chosen to waive this amount due to them in order to release funds for other operating ministry costs.

10 Pension and rental commitments

During the year employer’s pension contributions totalling £1,392 (2022: £1,368) were payable to defined contribution personal pension schemes. Pension contributions of £2,240 (2022: £266) were owing at the balance sheet date.

11 Funds

During the year the movements in the charity's funds were as follows:

General Unrestricted Funds
Total Unrestricted Funds
Restricted Funds
Missions account
AV Fund
Body Serve
Building Fund
Ukraine Fund
Visa Fund
Aggregate of funds		 Opening
balance
2023
£
2,833
2,833
-
103
1,001
1,716
-
113
2,933
5,766		 Incoming
resources
2023
£
67,570
67,570
289
-
80
-
-
-
369
67,939		 Outgoing
resources
2023
£
(75,304)
(75,304)
(1,902)
(95)
(400)
-
-
(113)
(2,510)
(77,814)		 Transfers
in the year
2023
£
(1,614)
(1,614)
1,614
-
-
-
-
-
1,614
-		 Gains and
losses
2023
£
-
-
-
-
-
-
-
-
-		 Closing
balance
2023
£
(6,515)
(6,515)
-
8
681
1,716
-
-
2,406
(4,109)

Page 14

SHOFAR CHRISTIAN CHURCH LTD

NOTES TO THE ACCOUNTS

FOR THE 12 MONTHS ENDED 31 DECEMBER 2023

Analysis of net assets by fund

The assets and liabilities of the various funds were as follows:

assets and liabilities of the various funds were as follows:
Debtors
Cash at bank and in hand
Creditors falling due within one year		 General
Designated
funds
funds
£
£
8,621
(735)
-
(14,401)
(6,515)
-
Unrestricted Funds		 Restricted
funds
£
2,406
2,406		 2022
£
8,621
1,670
(14,401)
General
funds
£
8,621
(735)
(14,401)
(6,515)
(4,109)

In the previous year the movements in the charity's funds were as follows:

General Unrestricted Funds
Total Unrestricted Funds
Restricted Funds
Missions account
AV Fund
Body Serve
Building Fund
Ukraine Fund
Visa Fund
Aggregate of funds		 Opening
balance
2022
£
5,884
5,884
141
343
1,136
1,716
-
-
3,336
9,220		 Incoming
resources
2022
£
71,747
71,747
(24)
125
(100)
-
653
769
1,423
73,170		 Outgoing
resources
2022
£
(74,679)
(74,679)
(236)
(365)
(35)
-
(653)
(656)
(1,945)
(76,624)		 Transfers
in the year
2022
£
(119)
(119)
119
-
-
-
-
-
119
-		 Gains and
losses
2022
£
-
-
-
-
-
-
-
-
-		 Closing
balance
2022
£
2,833
2,833
-
103
1,001
1,716
-
113
2,933
5,766

Analysis of net assets by fund

In the previous year, the assets and liabilities of the various funds were as follows:

Debtors
Cash at bank and in hand
Creditors falling due within one year		 General
Designated
funds
funds
£
£
8,089
410
-
(5,666)
2,833
-
Unrestricted Funds		 Restricted
funds
£
2,933
2,933		 2021
£
8,089
3,343
(5,666)
General
funds
£
8,089
410
(5,666)
2,833
5,766

Page 15

SHOFAR CHRISTIAN CHURCH LTD

NOTES TO THE ACCOUNTS

FOR THE 12 MONTHS ENDED 31 DECEMBER 2023

12 Transactions with related parties

During the year the charity:

Except as disclosed in note 5 'Analysis of staff costs' and Note 7 'Debtors' there have been no other transactions with related parties during the year.

13 Members

Each member of the company commits to contribute if the charity is wound up an amount of £10.

Page 16

SHOFAR CHRISTIAN CHURCH LTD

DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES

FOR THE 12 MONTHS ENDED 31 DECEMBER 2023

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Donations in kind
3
Charitable activities
Other income
Total income and endowments
EXPENDITURE ON:
Charitable activities:
5
Total Expenditure
Net income/(expenditure)
Transfers between funds
11
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
11		 General
2023
£
59,508
-
8,062
-
67,570
75,304
75,304
(7,734)
(1,614)
(9,347)
2,833
(6,515)
Unrestricted fund		 Restricted
2023
£
369
369
2,510
2,510
(2,141)
1,614
(528)
2,933
2,405		 Total
2023
£
59,876
-
8,062
-
67,939
77,814
77,814
(9,875)
-
(9,875)
5,766
(4,109)		 General
2022
£
64,883
-
6,864
-
71,747
74,679
74,679
(2,932)
(119)
(3,051)
5,884
2,833
Unrestricted funds		 Restricted
2022
£
1,423
1,423
1,944
1,944
(521)
119
(402)
3,335
2,933		 Total
2022
£
66,306
-
6,864
-
73,170
76,623
76,623
(3,453)
-
(3,453)
9,219
5,766

Page 17