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← Christ Church London

2024-07-31-accounts

REGISTERED COMPANY NUMBER: 05546205 (England and Wales) REGISTERED CHARITY NUMBER: 1111950

Report of the Trustees and

Financial Statements for the Year Ended 31 July 2024

for

Christ Church London

Christ Church London

Contents of the Financial Statements for the Year Ended 31 July 2024

Page
1
Report of the Trustees 2 to 13
Report of the Independent Auditors 14 to 17
Statement of Financial Activities 18
Balance Sheet 19
Cash Flow Statement 20
Notes to the Cash Flow Statement 21
Notes to the Financial Statements 22 to 29

Christ Church London

SENIOR LEADER OVERVIEW for the Year Ended 31 July 2024

During the last year we have been preparing for a significant transition of the senior leadership from David Stroud to Andy Tilsley and Joel Wade. The transition was formally recognised at our annual summer retreat in August 2024, but had been operating for several months before this. We formed a Transition Team to ensure the process was as smooth and healthy as possible, and the team comprised Andy Tilsley, Joel Wade, David Stroud, Lars DueChristensen and Sarah Cobbold. This team stopped meeting at the end of May when David began a sabbatical from June to August.

Joel and Andy established an interim leadership team while we were working through this process, composed of our service leaders and other ministry leaders: Helen Marasha, Adnan Khan, Vivian Lam, Joy Tilsley, Catherine Ishola, Louisa Richards, Sarah Cobbold and Natalie Powell. This team has worked really well and will become the new leadership team of the church.

Every part of the transition has progressed extremely smoothly and has been very warmly received by the church. Everyone involved is to be commended for the spirit in which this change has taken place and the church is in excellent health as it heads into a new and exciting chapter.

As part of this change, we have seen a number of movements amongst our personnel. Joel Wade has taken on leadership of the Central Service, with Adnan and Jessica Khan taking on leadership of our service in Mile End (Jess is not a member of staff). Joy Tilsley also came on staff and will continue to lead our Sutton service alongside Andy, providing some much needed capacity for Andy to lead more widely alongside Joel. At the end of David's sabbatical, he will be moving to a part-time role at Christ Church as the Founding Pastor. The last year also saw Lars Due-Christensen bring to an end 8 years of outstanding work for Christ Church London. Lars and his wife Mette have returned to Denmark, where they will continue to pioneer the STEPS ministry which developed so successfully during their time in London.

Amidst this significant change, the Central and Sutton services have moved to new venues. Our Central Service is now meeting at Mary Ward House, near Russell Square Station, very close to some of London's universities and with ample space for growth. Our Sutton service is moving to a High School in central Sutton with a capacity for 600 adults across the English and Cantonese speaking services. In March 2024, our Mile End Service also took the step to merge the evening service into the morning service, due to more and more people gravitating from the evening service. This has been a positive step, and provided opportunity to use our Coborn Street venue for various other ministry opportunities on Sundays including courses, social events, serenity services as well as hosting a Farsi-speaking Iranian service on Sunday afternoons, who want to explore a possible partnership with the church. We were also approached by a Cantonese speaking community about the possibility of starting a new Cantonese service in Central London, and they will begin to meet weekly from August as we explore that opportunity. Christ Church London now has six services on four sites across the capital.

We also took the church through a significant series on the subject of sex, sexuality, marriage and singleness through the Autumn of 2023. There were 12 sessions over 3 months, and guest speakers included Carl Trueman, David Bennett and Damilola Makinde. The series was received extremely well, and we received positive feedback from people with differing views and experiences in this area of life.

The last 12 months have also seen very significant developments for both STEPS and the Everything Network. STEPS was launched as its own charity in the Autumn of 2023 and the Everything Network became its own charity in the summer of 2024. Christ Church remains committed to supporting both of these ministries, both by running courses, sharing news, and financial donations, but we are also excited by the new opportunities this will afford for both new charities.

We are also very thankful for the annual Gift Day which raised £195,000 including Gift Aid and future pledges, surpassing our target of £150,000. We are, yet again, enormously grateful to both God and the church for their amazing generosity. There is so much more we could say, but we want to pay credit to the hard work of the staff team, who have navigated all these changes with grace, faith and a generous spirit, as well as the hundreds of people across the church who give so much time, energy and money to make all of this possible. We are inspired by their love for God and His church, and full of anticipation for the new chapter together.

ANDY TILSLEY & JOEL WADE

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Christ Church London

Report of the Trustees for the Year Ended 31 July 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2024. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES PRINCIPAL ACTIVITIES AND STRATEGY

The main objectives of Christ Church London are to advance the Christian faith and to provide assistance for persons in conditions of need, hardship, or distress.

As an outworking of these objectives, Christ Church London seeks to be a community in London that serves the capital and beyond. As a church we want to engage with people's questions and create an environment where anyone can explore matters of faith. We believe that God is interested in everything, so we want to help everyone discover how they can use their unique skills and passions to contribute to the strengthening of society, build community, and serve those who are in need. We want to be a church that is empowered by the Holy Spirit to live effective lives and sense God's direction in all we do.

The church's strategy for accomplishing these goals, and fulfilling its charitable objectives, focuses on the activities undertaken through its various ministry areas, taking into account the following guiding principles:

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Christ Church London

Report of the Trustees for the Year Ended 31 July 2024

GOVERNANCE, TRUSTEES, AND STAFF

The current trustees set out below held office during the year ended 31 July 2024:

David Akinluyi David is group COO of LSL Property Services and a director of his own company,
covering business, technology, and financial service engagements.
Hannah Cockburn Hannah is a chartered accountant, having trained with the National Audit Office
and currently works as a civil servant at the Department for Education.
Chee Yeen Fung Chee Yeen is a North London GP with educational and advisory roles at Imperial
College School of Medicine, Health Education England, the General Medical
Council, and the Medical Schools Council.
Mark Goodchild Mark is a management consultant who works with purpose-driven businesses and
in the healthcare sector.
Samuel Kay Sam is a partner with a London law firm, where he works in the financial services
sector advising investment funds and asset managers.
Smart Kemiki Smart is the Managing Director of a real estate company that facilitates buying,
selling, portfolio development, land acquisition and property management. He is
also actively involved with other charities. Smart stepped down as a trustee in
August 2023.
Emily Ribeiro Emily is a civil servant at the Foreign, Commonwealth and Development Office.
Her roles have included policy advice and programme management on the
Middle East, South Asia, and Africa. She was awarded an MBE for public service
in 2011.
David Stroud David is the Senior Leader of Christ Church London. He has been involved in
leading churches for over 30 years, and Christ Church London is his third church
plant.
Michael Thomas Mike is a management consultant who specialises in turning businesses around
and managing major projects. He has worked in a diverse range of industries for
over 40 years and is actively involved with other charities.

The trustees are also the officers of the company. The power of appointment or removal of trustees rests with the trustees. New trustees are selected from the church community. They are well known to the existing Board of Trustees and have demonstrated a high level of dedication and commitment towards the aims of the church. After their appointment, new trustees receive an induction pack, and spend time with the existing trustees to ensure they fully understand their responsibilities and the legal and financial framework in which the church operates. They are provided with additional training as required.

The trustees, who meet at least four times a year, retain responsibility for the overall strategic decisions of the charitable company, as well as the setting and monitoring of budgets. The Leadership Team, the staff, and volunteers overseeing different areas of the church make day-to-day decisions on expenditure and activities.

At the start of this reporting period, the leadership of Christ Church London was provided by a Senior Leadership Team made up of David Stroud, Andy Tilsley, Joel Wade and Lars Due-Christensen, supported by Sarah Cobbold.

Over the past 12 months, the role of senior leader has been passed from David Stroud to Andy Tilsley and Joel Wade, who hold joint responsibility for the overall spiritual leadership and pastoral care of the church, maintaining the historic orthodox understanding of the Christian faith, and setting out the vision and mission. They are supported by a Leadership Team made up of Adnan Khan, Catherine Ishola, Helen Marasha, Joy Tilsley, Louisa Richards, Natalie Powell, Sarah Cobbold and Vivian Lam.

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Christ Church London

Report of the Trustees for the Year Ended 31 July 2024

This new Leadership Team replaces the previous Senior Leadership Team and Service Leadership Team and takes a strategic view of the direction of the church, its broad initiatives as well as local implementation and safeguards the church's core values of Presence, Formation and Mission across the various ministries, services, and operations of the church to ensure we are working toward the cultural, social, and spiritual renewal of the city. These values were introduced by Joel and Andy to the team in the Spring of 2024, to be communicated to the church during the Autumn term.

Staff Members who have served on these teams this year are:

David Stroud As well as leading the Senior Leadership Team, David has overseen the
development of the overall vision and strategy of the church. David led the
Central service up until Easter 2024 and continues to support Andy and Joel in
their new roles as co-Senior Leaders. He also leads the Everything Network, and
hosts the Everything Conference and associated events throughout the year.
Andrew Tilsley Andy leads both of our Sutton services with his wife Joy, as well as preaching at
all services and occasionally at other churches. Andy is now co-Senior Leader
with Joel Wade.
Joel Wade Joel led both of our Mile End services until Easter 2024, at which point he took
over the leadership of the Central service. Joel preaches across all of our
services, leads the staff team and is now co-Senior Leader with Andy Tilsley.
Lars Due Christensen Lars moved back to his home country of Denmark in September 2023, but
continued to work part-time for Christ Church London until July 2024, supporting
the leadership transition, preaching at the Stockwell service and leading the
STEPS ministry.
Adnan Khan Adnan served as Associate Pastor of our Mile End services until Easter 2024, at
which point he and his wife Jessica (who is not on the CCL staff team) took over
from Joel Wade as the Mile End Service Leader. He is also Discipleship Lead for
the whole church.
Catherine Ishola Catherine is based in our Sutton service and oversaw the Families and Kids work
across the whole church until May 2024. She now focuses solely on the Kids work
in Sutton and preaches across all of our services.
Helen Marasha Helen leads our Stockwell Service with her husband Shaninga. Helen also
oversees Social Action. (Shaninga is not on the CCL staff team).
Joy Tilsley Joy leads our Sutton services with her husband Andy and joined the staff team
in June 2024, to lead our Families and Kids work across the whole church.
Louisa Richards Lou oversees Pastoral Care across the church, and as of July 2024, leads the HR
strategy and implementation.
Natalie Powell Natalie is Associate Pastor of our Central service, and is Head of Worship for the
whole church.
Sarah Cobbold Sarah oversees the day-to-day operational activities of the church including
logistics, events, HR, safeguarding, compliance and general administration.
Vivian Lam Vivian oversees the Cantonese-speaking service in Sutton, supported by Andy
Tilsley.

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Christ Church London

Report of the Trustees for the Year Ended 31 July 2024

Public benefit

When planning activities for the year and the services available to the local community, the trustees ensure they have due regard to the public benefit guidance published by the Charities Commission, namely:

The great majority of the church's meetings and events are open to the public and are publicised on our website, social media, and by emailed announcements. Individuals in the church are encouraged to invite friends and family as it is a key aim of Christ Church London to attract newcomers into its various activities so that they can participate in and benefit from all that the church has to offer.

The majority of Christ Church London events and activities can be accessed free of charge. When a charge has to be made, every effort is made (e.g. by some form of subsidy) to ensure that the cost does not exclude those for whom the activity would be especially beneficial.

AUDITORS

In so far as the trustees are aware:

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Christ Church London

Report of the Trustees for the Year Ended 31 July 2024

STRATEGIC REPORT Achievement and performance

SUNDAY SERVICES

ATTENDANCE

Average weekly attendance across the whole church was 559 (2023: 535), which is made up of 433 adults and 126 children.

MILE END

Average weekly attendance at the morning service was 74 adults and 11 children (2023: 67) Average weekly attendance at the evening service was 41 adults and 1 child (2023: 53)

CENTRAL

Average weekly attendance was 62 adults and 9 children (2023: 81).

STOCKWELL

Average weekly attendance was 49 adults and 22 children (2023: 65).

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Christ Church London

Report of the Trustees for the Year Ended 31 July 2024

SUTTON

Average weekly attendance at the English service was 119 adults and 83 children (2023: 185) Average weekly attendance at the Cantonese service was 88 adults (2023: 70)

EXTERNAL GIVING

Christ Church London is committed to supporting both global and local charities that alleviate poverty, illness, and hardship while promoting community and faith. We partner with a number of charities, providing both financial support and volunteer support to a number of local projects.

International donations made this year include £10,000 to Compassion UK's Child Survival Programs in Rwanda, which provide holistic care to mothers and children, and £10,000 to International Justice Mission (IJM) in the Dominican Republic, which has significantly reduced child trafficking in the region. A £3,000 donation was made to Christian Aid in response to the earthquake in Morocco in November 2023.

Locally, Christ Church London has given £10,000 to Refugee Education UK (REUK) to support educational initiatives for unaccompanied refugee children, and £2,000 to the Sutton Community Project, providing food and support to 120 families weekly. The church has continued to partner with GrowTH, a Tower Hamlets charity, which provided shelter to over 70 homeless guests, helping many of them find permanent homes, and Acts 435 which enables individuals in need of help to receive contributions directly from other members of the church. STEPS and Everything became independent charities on 1 February 2024, and we wanted to give them the best possible start as they launched.

STEPS Global was given £30,000 to aid its mission of helping people find freedom, peace, and deeper faith. Over the past year, STEPS Global has directly impacted over 480 lives and connected with more than 1,100 people through its programmes. New resources such as a podcast and Spanish translation have been developed and they have received hundreds of individual reports of how STEPS has healed, restored, and transformed lives, leading to greater peace, a renewed hope, and in almost all cases, a deeper faith. We continue to work closely with STEPS, running and promoting the courses within the church.

The Everything Network was given £46,500 to support them in their mission of building a movement of Christians seeking cultural renewal throughout society. Their key activities this year have been the Everything Leadership Development Cohort, which trains 40 young leaders over the course of the year to develop their sense of calling for the work of cultural renewal. Several of the cohort from this year have been attendees of Christ Church London. The Everything Supper Club is designed to connect senior leaders from many different sectors and enable them to collaborate to bring about renewal. And the annual Everything Conference is set up to gather, encourage and send-out change-making missionaries to work for cultural renewal in whatever sector or part of the world God has them. We continue to work closely with the Everything Network, partnering with them to run the Everything Conference and promoting their events and programmes within the church.

For both STEPS Global and the Everything Network we have created a Memorandum of Understanding which entails Christ Church London financially helping the launch of both charities up until 2025/26, subject to ongoing review with the trustees

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Christ Church London

Report of the Trustees for the Year Ended 31 July 2024

OPERATIONS

Staff communication is handled both through email, Zoom and regular face-to-face meetings of individuals, teams and the whole office. Staff continue to work from a hybrid model, meeting as a full staff team one day per week, and then working from home or from our building in Mile End for the remainder of the week.

This year we have started meeting weekly at Coborn Street in Mile End. We start each team day with a time of prayer and worship, which has brought the team closer together and given us renewed focus on God, ahead of what is often a busy day of meetings. We also took time to talk through the new leadership transition at church, helping the staff to own the new values, and as part of this focus went through the course, 'Practicing the Way' as a team over the summer term.

Our risk management system is ongoing, and we undertake an annual review of policies and risks to ensure compliance.

Financial review

INCOMING RESOURCES

Total incoming resources for the year were £1,643,000 compared to £1,891,000 received in the prior year. £1,349,000 of this income was received from the church community as general giving (2023: £1,311,000) (excluding Gift Days).

Other income includes funds that were received during the year from attendees at conferences, training events, and courses, preaching gifts and donations to social action projects.

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Christ Church London

Report of the Trustees for the Year Ended 31 July 2024

RESOURCE EXPENDITURE

The expenditure of resources on the church's activities during the year of £1,668,000 (2023: £1,929,000) was in line with the church's charitable aims.

The categories used to present the church's expenditure in the financial statements summarises the activities and ministries undertaken by the church. Staff and administration/overhead costs have been allocated across activity and ministry areas on an estimated time basis. Support costs and Fundraising costs have been detailed separately. The cost categories comprise:

Sunday Venue The cost for the year to 31 July 2024 £402,000 (2023: £355,000) includes the London School of Economics (Old Building and Peacock Theatre), Platanos College, Cryer Arts Theatre, and Coborn Street on Sundays. We continually review our venues to ensure they are fit for purpose.

Production, Preaching, and Band

Sunday costs (excluding venues - shown separately above) were £166,000 (2023: £175,000).

Connect Groups, Pastoral, Families, and Other Ministries

The combined cost for these ministries were £422,000 (2023: £557,000). This includes the STEPS and Everything ministries.

Alpha, Welcome, Mission, and The combined cost for the year is £108,000 (2023: £202,000) Social Action Church Leadership and serving Staff time spent in leading the church and serving in other contexts totalled other churches £259,000 (2023: £278,000). Communications Communication, media, web, and IT came to £81,000 (2023: £122,000). Office and Finance The administrative functions of the church including office administration, finance, and staff welfare £211,000 (2023: £237,000). This includes the Coborn Street (Mile End) lease that does not relate to Sunday Venue Hire.

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Christ Church London

Report of the Trustees for the Year Ended 31 July 2024

POLICIES AND PROCEDURES

The following policies and procedures remained in place during the year, and followed a formal internal review by both key staff members and trustees:

GRANT MAKING POLICY

Gifts to external organisations and individuals are considered by the service leaders on the basis of need and fulfilment of the charitable objectives and decided by the Senior Leaders. There are no upper or lower limits of support. Grants are made in conjunction with regular contact, budgetary control and adequate reporting.

Reserves policy

The trustees have set a policy of retaining reserves sufficient for the foreseeable needs of the Church. Where there is specific capital expenditure, foreseen amounts are set aside into designated funds so the general reserves are available to meet the costs of normal running and expansion of the Church and to ensure the Church can meet the commitments that have been entered into. The level of general reserves required is anticipated to be approximately three months of the level of general expenditure.

To ensure the minimum reserves level is guaranteed by the Financial Services Compensation Scheme (FSCS), this year we completed our project to diversify our accounts across several banks. This process was delayed by the COVID-19 pandemic, but we now have five accounts open and therefore have £425,000 under FSCS protection.

At 31 July 2024, the unrestricted reserves met the minimum amount required by the trustees.

FUNDS AND BALANCE SHEET

Tangible fixed assets had a net book value at the end of the year of £13,400 (2023: £20,700). This is stated after deducting a depreciation charge of £13,300 for the year (2023: £15,900) and additions of £6,000 (2023: £16,100). The principal assets are sound and visual equipment used during the various church meetings and IT equipment used in the church office. Expenditure on repairs, which have not been capitalised, totalled £12,879 for the year.

Cash at bank funds held at the year-end were £1,101,000 (2023: £1,129,000), representing £462,000 of general funds, £440,000 designated funds and £199,000 of restricted funds. Details on the movement of funds and year-end balances can be found in note 17 to the Financial Statements.

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Christ Church London

Report of the Trustees for the Year Ended 31 July 2024

FUTURE OBJECTIVES

Our key objectives for the next year will be to facilitate the multiplication of leaders, services and ministries:

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The charity is controlled by its governing document; the Memorandum and Articles of Association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Senior Leadership Team

David Stroud Andrew Tilsley Lars Due Christensen Joel Wade

Key management remuneration

Salaries and remuneration for key management personnel are set by the Trustees following consultation and guidance from the Salaries Review committee, which is comprised of the Senior Leader (who is also a trustee) and three non-staff trustees with experience in charity, government, and commercial industries. The Senior Leader is not involved in reviewing or setting their own salary.

EMPLOYEES AND VOLUNTEERS

The work of Christ Church London relies on the commitment and hard work of its employed staff, as well as its volunteers. Christ Church London seeks to be a workplace that represents the diversity we see in the city. Our recruitment and development policies reflect our Christian values and adhere to UK legislation.

At year end, the church employed 13 full-time (2023: 12) and 13 part-time staff (2023: 10). Our staff team supports the vision of Christ Church London, alongside the extensive input and time of the church community who serve and give faithfully.

Christ Church London has ongoing relationships with a number of respected Christian leaders, who form a Council of Reference. The Senior Leaders and the Trustees remain responsible for the leadership and governance of the church. Further details are provided in Appendix 1.

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Christ Church London

Report of the Trustees for the Year Ended 31 July 2024

INTERNAL CONTROLS AND RISK MANAGEMENT

The trustees have overall responsibility for the Christ Church London system of internal controls. Such a system can provide only reasonable, but not absolute, assurance against errors or frauds.

Christ Church London operates a planning and budgeting system with an annual budget approved by the trustees. Significant changes are subject to specific approval. A finance reporting system compares results with the budget on a monthly basis.

The trustees are satisfied that systems are in place to monitor, manage, and mitigate Christ Church London's exposure to major risks. They consider that maintaining Christ Church London reserves at the policy levels and reviewing internal controls and risks will provide Christ Church London with adequate risk assurance and sufficient resources in the event of adverse conditions. They also recognise that the nature of some of Christ Church London's work requires active acceptance and management of some risks when undertaking activities to achieve the objectives of the charitable company.

All areas of church life have been subject to a risk review using our risk management software system, and the trustees have reviewed the most significant risks.

All major insurable risks are subject to normal churches' and employers' insurance. Contractual risks are reviewed before entering, to assess that they could not significantly impact the church's ability to fulfil its objectives.

Website: christchurchlondon.org

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 05546205 (England and Wales)

Registered Charity number

1111950

Registered office

1-3 Coborn Street London E3 2AB

Trustees

Mark Goodchild (Chair) David Stroud David Akinluyi Smart Kemiki (Resigned Aug 2023) Emily Ribeiro Michael Thomas Chee Yeen Fung Samuel Kay Hannah Cockburn (Appointed 13 June 2023)

Company Secretary

Claire Odunlami

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Christ Church London

Report of the Trustees for the Year Ended 31 July 2024

Auditors

Brewers Chartered Accountants Bourne House Queen Street Gomshall Surrey GU5 9LY

Bankers:

HSBC Bank PLC 281 Chiswick High Rd Chiswick London W4 4HJ

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Christ Church London for the purposes of company law) are responsible for preparing the 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 affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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.

In so far as the trustees are aware:

AUDITORS

The auditors, Brewers Chartered Accountants, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 12 November 2024 and signed on the board's behalf by:

~~....................................~~ ......................................... M Goodchild Trustee

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Report of the Independent Auditors to the Members of Christ Church London

Opinion

We have audited the financial statements of Christ Church London (the 'charitable company') for the year ended 31 July 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

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Report of the Independent Auditors to the Members of Christ Church London

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

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Report of the Independent Auditors to the Members of Christ Church London

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our discussions with the charity's management and the Trustees, we identified that the following laws and regulations are significant to the entity:

Those laws and regulations considered to have a direct effect on the financial statements include UK financial reporting standards and Charity Law.

Those laws and regulations for which non-compliance may be fundamental to the operating aspects of the charity and therefore may have a material effect on the financial statements include compliance with the charitable objectives, public benefit, safeguarding and health and safety legislation. These matters were discussed amongst the engagement team at the planning stage and the team remained alert to non-compliance throughout the audit.

Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and noncompliance with laws and regulations) comprised of: inquires of management and the Trustees as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence; review of Trustee meting minutes; testing the appropriateness of journal entries; and the performance of analytical review to identify unexpected movements in account balances which may be indicative of fraud.

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities from error. As explained above there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

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Report of the Independent Auditors to the Members of Christ Church London

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Andrew Skilton ACA (Senior Statutory Auditor) for and on behalf of Brewers Chartered Accountants Bourne House Queen Street Gomshall Surrey GU5 9LY Date: .............................................

17

Christ Church London

Statement of Financial Activities for the Year Ended 31 July 2024

Notes
INCOME
Voluntary donations
2
Charitable activities
4
Charitable activities
Investment income
3
Total
EXPENDITURE ON
Raising funds
5
Charitable activities
6
Charitable activities
Support Costs
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
1,571,236
10,148
9,657
1,591,041
2,687
1,370,706
248,474
1,621,867
(30,826)
929,749
898,923		 Restricted
funds
£
-
51,892
-
51,892
8,544
37,347
-
45,891
6,001
192,730
198,731		 31.7.24
Total
funds
£
1,571,236
62,040
9,657
1,642,933
11,231
1,408,053
248,474
1,667,758
(24,825)
1,122,479
1,097,654		 31.7.23
Total
funds
£
1,844,972
41,902
3,756
1,890,630
6,000
1,633,756
289,115
1,928,871
(38,241)
1,160,720
1,122,479

18

Christ Church London

Balance Sheet 31 July 2024

Notes
FIXED ASSETS
Tangible assets
12
CURRENT ASSETS
Stocks
13
Debtors
14
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
15
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
16
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
funds
£
13,424
-
71,076
902,220
973,296
(87,797)
885,499
898,923
898,923		 Restricted
funds
£
-
-
-
198,731
198,731
-
198,731
198,731
198,731		 31.7.24
Total
funds
£
13,424
-
71,076
1,100,951
1,172,027
(87,797)
1,084,230
1,097,654
1,097,654
898,923
198,731
1,097,654		 31.7.23
Total
funds
£
20,709
5,710
100,991
1,129,025
1,235,726
(133,956)
1,101,770
1,122,479
1,122,479
929,749
192,730
1,122,479

The financial statements were approved by the Board of Trustees and authorised for issue on 12 November 2024 and were signed on its behalf by:

............................................. M Goodchild Trustee

19

Christ Church London

Cash Flow Statement
for the Year Ended 31 July 2024
Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash provided by/(used in) investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 31.7.24
£
(31,736)
(31,736)
(5,995)
9,657
3,662
(28,074)
1,129,025
1,100,951		 31.7.23
£
5,746
5,746
(16,106)
3,756
(12,350)
(6,604)
1,135,629
1,129,025

20

Christ Church London

Notes to the Cash Flow Statement for the Year Ended 31 July 2024

1.
RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES
31.7.24
£
Net expenditure for the reporting period (as per the Statement of
Financial Activities)
(24,825)
Adjustments for:
Depreciation charges
13,280
Interest received
(9,657)
Decrease in stocks
5,710
Decrease/(increase) in debtors
29,915
(Decrease)/increase in creditors
(46,159)
Net cash (used in)/provided by operations
(31,736)
2.
ANALYSIS OF CHANGES IN NET FUNDS
At 1.8.23
Cash flow
£
£
Net cash
Cash at bank and in hand
1,129,025
(28,074)
1,129,025
(28,074)
Total
1,129,025
(28,074)		 31.7.23
£
(38,241)
15,914
(3,756)
685
(23,889)
55,033
5,746
At 31.7.24
£
1,100,951
1,100,951
1,100,951

21

Christ Church London

Notes to the Financial Statements for the Year Ended 31 July 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

22

Christ Church London

Notes to the Financial Statements - continued for the Year Ended 31 July 2024

2.
DONATIONS
General donations
Special offerings (inc. Gift Day)
Social Action & Other Ministries donations
3.
INVESTMENT INCOME
Bank interest
4.
INCOME FROM CHARITABLE ACTIVITIES
Including event income and
income from property rental
5.
RAISING FUNDS
Other trading activities
Other ministries
6.
CHARITABLE ACTIVITIES COSTS
Charitable activities
Support Costs		 Direct
Costs
£
1,408,053
(5,995)
1,402,058		 31.7.24
£
1,348,865
195,959
26,412
1,571,236
31.7.24
£
9,657
31.7.24
£
62,040
31.7.24
£
11,231
Support
costs (see
note 7)
£
-
254,469
254,469		 31.7.23
£
1,311,199
205,774
327,999
1,844,972
31.7.23
£
3,756
31.7.23
£
41,902
31.7.23
£
6,000
Totals
£
1,408,053
248,474
1,656,527

23

Christ Church London

Notes to the Financial Statements - continued for the Year Ended 31 July 2024

7. SUPPORT COSTS

Support costs, included in the above, are as follows:

Communications
Office and Finance		 31.7.24
Support
Costs
£
43,051
211,418
254,469		 31.7.23
Total
activities
£
58,077
231,038
289,115

8. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.7.24 31.7.24 31.7.23 31.7.23
£ £
Depreciation - owned assets 13,280 15,913
Auditors' remuneration 6,500 6,300
TRUSTEES' REMUNERATION AND BENEFITS
2024 2023
£ £
Trustees' remuneration (including salary, employer Social Security
costs and pension contribution) 115,816 135,719

9. TRUSTEES' REMUNERATION AND BENEFITS

The above remuneration is in respect of the Senior Leader and is in accordance with our Memorandum and Articles of Association. The number of Trustees who received remuneration were 1 (2023: 2).

Trustees' expenses

Expenses paid to trustees for the year ended 31 July 2024 amounted to £1,777 (2023: £7,048). This includes reimbursed expenditure for carrying out executive responsibilities across the church's activities by the Senior Leader who also serve as a trustee.

Key management personnel

Christ Church London considers its Key Management Personnel to be the Senior Leaders, the Head of Operations, and the Head of Finance. Salaries for these employees were £311,398 (2023: £400,699). Employer Social Security costs and pension contributions were £38,148 and £33,438 (2023: £48,856 and £39.823) respectively.

10. STAFF COSTS

Salaries
Employer Social Security costs
Employer pension contributions		 2024
2023
£
£
782,354
881,646
77,293
94,065
77,124
86,399
936,771
1,062,110

24

Christ Church London

Notes to the Financial Statements - continued for the Year Ended 31 July 2024

10. STAFF COSTS - continued

The average monthly number of employees during the year was as follows:

31.7.24
31.7.23
Full Time
12
13
Part Time
14
13
26
26		 31.7.24
31.7.23
Full Time
12
13
Part Time
14
13
26
26		 31.7.24
31.7.23
Full Time
12
13
Part Time
14
13
26
26
26 26

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

31.7.24 31.7.23
£60,001 - £70,000 1 1
£70,001 - £80,000 1 1
£80,001 - £90,000 - 2
£90,001 - £100,000 1 -
3 4

This is comprised of gross salary. The prior year also included employer social security costs.

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
INCOME
Voluntary donations
Charitable activities
Charitable activities
Investment income
Total
EXPENDITURE ON
Raising funds
Charitable activities
Charitable activities
Support Costs
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward		 Unrestricted
funds
£
1,516,973
41,902
3,756
1,562,631
6,000
1,307,768
289,115		 Restricted
funds
£
327,999
-
-
327,999
-
325,988
-		 Total
funds
£
1,844,972
41,902
3,756
1,890,630
6,000
1,633,756
289,115
1,928,871
(38,241)
1,160,720
1,602,883 325,988
(40,252)
970,001		 2,011
190,719

25

Christ Church London

Notes to the Financial Statements - continued for the Year Ended 31 July 2024

11.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
funds
£
TOTAL FUNDS CARRIED FORWARD
929,749
12.
TANGIBLE FIXED ASSETS
Plant and
machinery
£
COST
At 1 August 2023
171,695
Additions
550
At 31 July 2024
172,245
DEPRECIATION
At 1 August 2023
168,611
Charge for year
1,050
At 31 July 2024
169,661
NET BOOK VALUE
At 31 July 2024
2,584
At 31 July 2023
3,084
13.
STOCKS
Stocks - STEPS Books
14.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Gift Aid receivable
Church Suite Giving Receivable
Online Ticket Shop Control
Prepayments and accrued income		 Restricted
funds
£
192,730
Computer
equipment
£
111,491
5,445
116,936
93,866
12,230
106,096
10,840
17,625
31.7.24
£
-
31.7.24
£
1,192
14,520
2,385
4,128
48,851
71,076		 Total
funds
£
1,122,479
Totals
£
283,186
5,995
289,181
262,477
13,280
275,757
13,424
20,709
31.7.23
£
5,710
31.7.23
£
-
17,178
-
-
83,813
100,991

26

Christ Church London

Notes to the Financial Statements - continued for the Year Ended 31 July 2024

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Credit card control
Accruals and deferred income
Income in advance		 31.7.24
£
34,345
2,886
22,837
27,729
87,797		 31.7.23
£
25,986
-
28,310
79,660
133,956

16. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follow:

Within one year
Between one and five years		 31.7.24
£
100,000
100,000
200,000		 31.7.23
£
100,000
200,000
300,000

17. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Designated fund
Restricted funds
Restricted
TOTAL FUNDS		 At 1.8.23
£
489,749
440,000
929,749
192,730
1,122,479		 Net
movement
in funds
£
(30,826)
-
(30,826)
6,001
(24,825)		 At
31.7.24
£
458,923
440,000
898,923
198,731
1,097,654

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Restricted
TOTAL FUNDS		 Incoming
resources
£
1,591,041
51,892
1,642,933		 Resources
expended
£
(1,621,867)
(45,891)
(1,667,758)		 Movement
in funds
£
(30,826)
6,001
(24,825)

27

Christ Church London

Notes to the Financial Statements - continued for the Year Ended 31 July 2024

17. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.8.22
£
Unrestricted funds
General fund
530,001
Designated fund
440,000
970,001
Restricted funds
Restricted
190,719
TOTAL FUNDS
1,160,720
Comparative net movement in funds, included in the above are as follows:		 Net
movement
in funds
£
(40,252)
-
(40,252)
2,011
(38,241)		 At
31.7.23
£
489,749
440,000
929,749
192,730
1,122,479
Unrestricted funds
General fund
Restricted funds
Restricted
TOTAL FUNDS		 Incoming
resources
£
1,562,631
327,999
1,890,630		 Resources
expended
£
(1,602,883)
(325,988)
(1,928,871)		 Movement
in funds
£
(40,252)
2,011
(38,241)

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Designated fund
Restricted funds
Restricted
TOTAL FUNDS		 At 1.8.22
£
530,001
440,000
970,001
190,719
1,160,720		 Net
movement
in funds
£
(71,078)
-
(71,078)
8,012
(63,066)		 At
31.7.24
£
458,923
440,000
898,923
198,731
1,097,654

28

Christ Church London

Notes to the Financial Statements - continued for the Year Ended 31 July 2024

17. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Restricted
TOTAL FUNDS		 Incoming
resources
£
3,153,672
379,891
3,533,563		 Resources
expended
£
(3,224,750)
(371,879)
(3,596,629)		 Movement
in funds
£
(71,078)
8,012
(63,066)

18. RELATED PARTY DISCLOSURES

Chee Yeen Fung is a trustee of Christ Church London. Chee Yeen is the sister of Yu Yeen Fung who was employed during the year as a Communications and Operations Coordinator. The total remuneration for Yu Yeen during the year amounted to £15,672. Chee Yeen was not involved in any decisions regarding Yu

==> picture [467 x 31] intentionally omitted <==

as the Everything Network). AORT received charitable status on 10 March 2024. During the financial year Christ Church London supported AORT through a donation of £46,500 and staff time. David was not involved in determining the level of support.

The cumulative total of donations given without conditions by the trustees and their related parties during the year was £329,927, including Gift Aid (2023: £333,090). The cumulative total of donations with restrictions to Everything and Families ministries was £73,085 (2023: £41,461).

19. GUARANTEE STATUS

The company is limited by guarantee, which means that every member undertakes to contribute to the assets of the company in the event of a winding up, including any members up to one year after ceasing to be a member, such amounts as may be required not exceeding £10.

29

APPENDIX 1

ANDY CROUCH

Andy Crouch is partner for theology and culture at Praxis, an organisation that works as a creative engine for redemptive entrepreneurship. He is the author of several books, the most recent of which is Relationships in a Technological World.

DAVID DEVENISH

with churches in the UK and other cultures around the world.

REV NICKY AND PIPPA GUMBEL

Nicky is the pioneer of the Alpha Course, which runs across the world, and was the Vicar of Holy Trinity Brompton, one of the largest Anglican Churches in the UK, for 17 years. Nicky and Pippa together write the Bible in One Year reading plan.

DR KRISH KANDIAH OBE

Krish founded Home For Good, a charity seeking to find loving homes for vulnerable children, and The Sanctuary Foundation, who support refugees to find welcome, work and worthwhile housing in the UK. He has authored 13 books, including Paradoxology and Home for Good: Making a Difference for Vulnerable Children .

REV CANON PAUL MACONOCHIE

Paul is the Leadership Development Director at Grace Gathering church in Indiana, USA. Paul also leads the 3D Movement National Team. He was previously the Senior Leader at Network Church Sheffield and has helped many churches re-engineer their small group structures.

REV CANON JOHN AND ELEANOR MUMFORD

John and Eleanor are co-ordinators of the Vineyard International Executive, after leading the Vineyard Church UK for over 20 years.

DR AMY ORR-EWING

Amy is an international author, speaker, and theologian who addresses the deep questions of our day with meaningful answers found in the Christian faith. She is the author of multiple books including, Where is God in All the Suffering? and the bestselling Why Trust The Bible?.

30