SUTTON CHRISTIAN CENTRE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
SUTTON CHRISTIAN CENTRE TRUST LEGAL, ADMINISTRATIVE AND PROFESSIONAL INFORMATION Board Antony Horswood Mike Ikwuemesi Richard Langley Seyi Obakin Company Secretary Seyi Obakin Church Administrator Allison Marsli Registered Office 25 Tate Road Siitton, SLirrey SMI 2SY Registration details Registered Charity No- 1115813 Company Registration No- 5878906 Solicitors BDB Pitnians LLP Oiie Bartholomew Close Loiidon ECIA 7BL Bankers Metro Bank 83-87 High Street Sutton SMI IJF Lloyd TSB Baiik plc 49 High Street Sutton SMI IDX Kiiigdoni Bank Mere Way Nottinghai NGII 6IS Independent Examiners JCS Accountants Ltd 5 Robin Hood Lane Sutton Surrey SMI 2SW Contents Report of the Directors Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Accounts Page 10-16
SUTTON CHRISTIAN CENTRE TRUST REPORT OF THE DIRECTORS FOR THEYEAR ENDED 31 OCTOBER 2024 The Directors, who are also trustees of the charity, present their annual report and the fiiiancial statements for the year ended 31 October 2024, which comply with current statutory and accounting requirements. About Sutton Christian Centre Trust and its principal activities Sutton Christian Centre Trust is a registered charity legally organised in the form of a company limited by guarantee and governed by its Articles of Association. The Board of Trustees are the members of the company and their liability in the event of the compaiiy being wound up is limited to £1 each. The company was incorporated on 17 luly 2006 to take over the activities of Sutton Christian Centre Trust, a registered charity created by a trust deed dated 31 December 1985. The company became a registered charity (Charity Number 1115813) in England and Wales on 15 August 2006, its overall purpose beilig to proclaim the gospel of Jesiis Christ, Its charitable objectives are to advance the c.hristian faith in tlie Uiiited Kingdom or overseas, to further religiou.s or secular education, to give relief to tlie poor and needy, and to help and conifort tlie sick and aged. 'rhe Directors seek to achieve tlie company's charitable objectives by maintaining a centre of worship and fellowship, by regularly meeting for fellowship and prayer, by the baptising of believei's by total inimersion, by tlie dedic,Ition of infants and by the solemnisation of marriages. We run .Siinday meetings whei'e we preach the gospel, teach from the Bible and pi"ay. The Church i.% split into small groups foi. i)a.%toral care, we p)rovide a wide range of activities For children and youlig adults and we rcach oiit to Suttoii's elderly throiigh oiir ROSE ministries a coordinated niinistry with a specific vision to I"e<)ch tlie elderly in our community for Christ. We host otliei" activities to which all in our community are welcome. Governance 'I'lie Compaiiy is controlled by a Board of Directors who also serve as trii.8tees of the Charity. The Directors set out the vision, directioii aiid sti'ategies for tl)e succe.ssful fulfr'ilment of the coiiii)lÉ ny's purposes and continiiing developinent, in consultation witli the Elder.s. The Elders are respoJisible for the spiritiial leadership of the chiirch. J)irectors and Elders are volunteers aiid do not receive aiiy reniuneration for their service. The current membership of the Board of Directors is set out in the Legal, Adniii)isti'ative and Professioiial I nforni¢ltion page of tliese finalicial %tatements. New Directors al'e appointed by the existing Directors. The Directors receive training by liolding regular accouiitability sessions with our apostolic cover, Ray Djan, and holding Away Days. The Directors are siipported in their role by a Board of Deacons who oversee the day-to-day administration of the Conipany and ensiire that the policies set out by the Directors are implemented. Deacons are elected by tlie churcli meinbers to serve a term of two years each and caIi be re-elected. They do not receive aiiy remuneration for their service. Grant rnaking policy The recipients of grants are usually organisations or Èndividuals known to church members and grants given are approved by Directors and/or Deacons. The amount5 earmarked to be given but not yet passed over to recipients at the year-end are set aside in the reserves. Investment powers and policy Directors have powers to invest surplus funds at their absolute discretion. Funds in excess of our day to day needs are held in bank deposits with UK banks. The Directors believe this represents the best balance of good returns, good service and a safe place to keep our money. Risk assessment The Directoi-s examine regularly the major risks facing the company and ensure that systems are established to enable the necessary steps to be taken to lessen these risks.
SUTTON CHRISTIAN CENTRE TRUST REPORT OF THE DIRECTORS FOR THEYEAR ENDED 31 OCTOBER 2024 Review of the Year This year, we stayed true to our mission: to be (J lovingfomily church, where people of all ages, races, cultures, abilities, and baclcgrounds can experieiice the love of Jesus, be transformed by Ills word, discover their calling, and lovingly serve and connect others to Christ,. We held Sunday services in the chiirch building and streamed them live on YouTube, allowing participation from hoIne, incliiding by people who do not normally atteiid Sutton Christian C,eiitre. Connect Groups provided ongoing pastoral care, meeting primarily via Zoom, whicli increased attendance and sti"engtheiied relationships. We thank Connect Group leaders for their service and dedicatioIi. 2024 marked our 125th Anniversary. We celebrated this significant milestone with various activities through the year. These included a celebration of our long standing children and youth work iii J2yiuary, a qui£ niglit iii Mcirch, ladies afternoon tea, and a weekend celebration in June, attended by the Depiity Mayor of Sutton Boroiigh, as well as niaiiy pi'evious nieinbers, Eacli week featiii'ed liistorical higlilights, showing liow tlie church has beeii a blessing to many over the years and our long-standing commiinity impact. Prayei" reniained e.%sential, facilitated through Connect Gi'oups, a Wednesday prayer meeting and prayer chain. The ladies, meetings floLirished, providing encouragement and blessing. john Blay joined as our new part-time youth leader. Jolin has a calliiig on his life to work with tlie youth and the youth group has grown significantly under his leadership. Our expandingy children's ministry continues to nurture and care for young attendees despite space constraint.s. The chiirch doiiated l OO/D of its iiicoino to missions and supported those in need throLigli a special Cliristnias offLsring, as we have always doiie. Oui" dedicated leaders and stiiff, includiiig those broadcasting our services, played criicial roles tliis year, and we thank them all. We are also grateful to Ray Djan for his support as oui" covei'ing ap05tle. We provided opportunities foi" iiiany to speak or lead duriiig Sunday services, recognizing the diverse talents witliiii ou r coJigi"egation. Worship is a strong part of our ciilture, c1nd we ai"e blessed to have a worsliip team tliat contiiiually leads us in meaiiingful worsliip experiences. Following a break due to the Covid-19 pandemic, we were delighted that Mercia Macdonald resumed visits and services at elderly folks, homes, continuing a nearly 50-year tradition. A newer tradition, Cornerstone meetings for adults with learning difficulties, grew stronger, meeting a significant need. Some associated with Sutton Christian Centre went to be with their Lord and Saviour during the year. In particular, we remember Nancy Zakir who had been a metnber for many years and was a strong evangelist and Judy Haigh who went to be with Lord after a strong fight agaiIist cancer. Trained members ran Christians Against Poverty (CAP) seminars, offering practical help during financial pressures. We are grateful to Anne Page and her team for leading this initiative. Weekly activities like Table Tennis, Shape. and Tate Road Tots continued, alongside contribiitions to Street Pastors and Sutton Foodbank. All these activities are open to the public. Furthermore, our premises hosted Age UK, Through the Roof, and TakingAction (a theatre group for disabled adults), and served as a voting centre.
SUTTON CHRISTIAN CENTRE TRUST REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 OCTOBER 2024 We appreciate oiir deacons For their vital, often unseen work. This year, Richard Langley stepped down from the Eldership thoiigh we are delighted tliat he remains a trustee. We are really delighted to welcome Vicky Ikwuemesi aiid Ric Adams to the Eldership. Public Benefit Sutton Christian Centre has a strong belief that we should benefit the commuliity aJid that we are community minded. The triistees have had regard to the Charity Commission's guidaiice on public benefit when considering their activities. Various activities of direct benefit to the public have been covered in this report. Financial review and reserves At the end of this financial year, unrestricted Funds amounted to £1,001,544 of which £240,528 is freely available and £761,016 is invested in fixed assets, including the church building at Tate Road. 'rhe building was professionally re-valued at £700,000 in October 2007 and this was treated as deemed cost on traiisition to fRS 102. Restricted fuiids include £90,572 donated towards the developinent of the churcli building in due course. In order to ensure that the trust cali continue to operate effectively should it experience a significant drop in income, it must liold reserves at a level that tlie Directors consider to be sufficient. The Directors adopt a risk-based cipproach to determining the niiiiimum reserves th<lt woiild be requii'ed to sust'iin tlie charity civer Iwelve months. Tlius, each lii)e of inconie <lJid expenditure budget was risk-adjiisted, resulting in a need to liold a niinimum of £38,075 in free reserve. Based on the budget for 2024125, tliis is eqLiivalent to aroiiiid 12 weeks of expenditLire. However, additional reserves are. needed to replace fixed assets at the appropriate tiine and tlie Directors woijld lil<e to gradually build up re.%erves to en<ible the charity to purchase a new building or redevelop Tate Road. Statements of Directors, Responsibilities 'I'he director.s (who c1re also tru.stees of Sutton Christian Centre Trust for the purposes of company law) are re.sponsihle for prepclring tlie Directors, Report and the finaiicial statements in accordaiice with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the directors to prepare financial statements for each finaiicial year which gives a true and fair view of tlie state of affairs of the cliaritable company and of the income and expenditure of the charitable coinpany for that period. In preparing those financial statements, the Directors are required to: select suitable accounting policies and then apply them consistently; observe the methods and priiiciples in the Charities SORP; make jiidgements and estiniates that are I'easonable and prudent,. state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The Directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the finaiicial position of the charitable company and enable them to ensure that the financial statenients 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. The directors are responsible for the maintenance and integrity of the corporate and financial
SUTTON CHRISTIAN CENTRE TRUST REPORT OFTHE DIRECTORS FOR THEYEAR ENDED 31 OCTOBER 2024 information included in the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006. Approved by the Board on ¢ QoiL JoU%nd signed on its behalf by.. ¥ll(2SAJJJts Antony Horswood
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SUTTON CHRISTIAN CENTRE TRUST FOR THE YEAR ENDED 31 OCTOBER 2024 I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 October 2024 setout on pages 8 to 16. Responsibilities and basis of report As the charity's trustees (and also its directors for the purposes of company law) you are responsible for the preparatioii OF the accounts in accordance with the requirements of the Compaiiies Act 2006 ('the 2006 Act,). Having satisfied myself that the accnunts of tlie Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examinatioii, I report in respect of my examination of your charity s accounts as carried out under section 145 of the Charites Act 2011 ['the 2011 Act,). In carrying OLIt my exaniination I have followed tlie directions giveii by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examiner's statement I have completed rny examination. I confirm that iio matters have coine to my attention in connection witli the exainination giviiig nie cause to believe: accounting records wei'e not kept in respect of the Coinpany as required by section 386 of tlie 200CI Act; or the accoiilits do not accord with those records,. or the accounts do iiotcomply with the accountiIig reqLiirenients of section 396 ofthe 2006 Act other than any requirementthat the aLcoiints give a 'true and fairview, wliich is not a matter considei'ed as part of an independeiit examination., or the accouIits have not been prepared in accordance with tlie metliods and pi"inciples of Accouiiting and Reporting by Charities: Statement of Recomnieiided Pi"actice applicable to cliarities prepaI'iIig their accouiits in accordance with tlie Financial Reporting Staiidai'd applicable in tlie UK and tlie Republic ollreland (fRS 102). I have no concerns and have come across no other matters in connection with tlie examination to which attention should be drawn in this I"epoi"t in order to enable a proper understanding of the accounts to be reached. Paul Newton FCA ICS Accountants Ltd 5 Robin Hood Lane Sutton Surrey SMI 2SW Date: i( A { £oZf
SUTTON CHRISTIAN CENTRE TRUST STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING THE INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 OCTOBER 2024 2024 Restricted 2023 Total Note Unrestricted Total Income from Donations Investment iiicome Other Total income 134,664 1,155 2,003 137,822 23,191 157,855 1,155 2,003 161,013 176,564 289 4,926 181,779 23,191 Expenditure on Charitable activities Governance co%ts Total expenditure 134,827 1,440 136,267 29,445 164,272 1,440 165,712 167,024 1,320 168,344 29,445 Net Income/(expenditure) 1,555 (6,254) (4,699) 13,435 Reconciliation of funds runds brought forward 999,989 95,881 1,095,870 1,082,435 Funds carried forward 1,001,544 89,627 1,091,171 1.095,870 All of the above results relate to conti niiing activities.
SUTTON CHRISTIAN CENTRE TRUST BALANCE SHEET ASAT 31 OCTOBER 2024 COMPANY REGISTRATION NUMBER: 5878906 2024 2023 Note Fixed Assets Taiigible Assets 761,016 765,600 Current Assets Debtors and pi'epayinents Cash at bank and in hand 31,250 302,595 333,845 17,729 315,261 332,990 Creditors.. Amounts falling due within one year 3,690 2,720 Net current assets 330.155 330,270 Total assets less current liabilities 1,091,171 1,095,870 Total Funds Resti"icted tuiids Unrestricted funds 89,627 1,001,544 95,881 999,989 Total i'eserves 1,091,171 1,095,870 For theyearending31 Octobei. 2024, the companywas entitled to exemption from auditundersection 477 of the Conipanies Act 2006 relatilig to sniall coiiipanies. No member of the Company has deposited a notice, pursuant to section 476, requiring an audit of these financial statements under the reqiiirements of the Companies Act 2006. The directors acknowledge their respon.%ibility for ensuring tliat tlie conipany keeps proper accoiinting records which comply with sectioii 386 of the Act and for preparing financial statements which give a true and fairview of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requireinents of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to small accounts, so far as applicable to the company. These financial statements have been prepared in accordance with the special provisions relatin8 to small companies within Part 15 of the Companies Act 2006. These financial statements were approved and authorised for issue by the Board of Directors on and signed on their behalf by.. qAprti 201% Antony Horswood
SUTTON CHRISTIAN CENTRE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 ACCOUNTING POLICIES a) Basis of Preparation & Assessment of Going Concern The financial statemeiits have been pi-epared iiiider the historical cost convention with items recognised at cost or transaction value unless otlierwtse stated in the relevant notes. The rinancial statements Iiave been prepared in accordance with the Companies Act 2006,. Charities Act 2011,. Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicclble in the UK aiid Republic of Ireland (FRS 102) (effective I Janiiary 2019) and the Fiiiancial ReportiIig Standai'd applicable in tlie UK and Republic of Ireland (FRS 102) The Charity meets the definition of a public benefit eiitity under FRSI 02. It is a charitable conipany limited by guaraiitee witli registered office of 25 Tate Road, Sutton, Surrey, SMI 2SY. Asset.s and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes. Assessment of Going Concern Preparation of the accounts is on a going concern basis. The directors consider that there al'e no material uncertaiiities about the Charity's ability to continiie as a going concern. b) Fixed assets Assets piirchased or donated for charity use are inLluded in the balance sheet at tlieii" cost or the Directors estimation of cost. c) Depreciation Freeliold land is not depreciated. Depreciation on fi"eehold property is considei'ed to be immaterial as the estimated residual valiie of the property is l)igher tliaii the carrying value. Depreciation is charged on a straight-line basis to write off the cost of other tangible fixed assets over their useful economic lives at the following annual rates.. Building improvements I ndiistrial boiler Furniture and Equipment Motor vel)icles 15 years 15 years 4 years 4 years d) Income Income is accounted forwlien the conditions of entitletnent, probability and measurability are met. e) Expenditure Expenditure is accounted for on a payable basis and has been analysed between.. (i) Charitable activities - all expenditure in accordance with the objects of the charity. Governance costs - all expenditure to comply with statutory and legal requirements. io
SUTTON CHRISTIAN CENTRE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Grants Grants payable are charged in the year when tlie offer is conveyed to the recipient. Aniounts earIllarked a% grant payable but for which recipients are yet to be decided and/or notified are included in designated reserves. g) Taxation The charitable company is exempt from corporation tax on its charitable activities. h) Financial instruments The charity has only financial assets and liabilities of a kind that qualify as basic financial iistrunients. These are initially recognised at transactioii value aiid SLibseqiiently measu red at their settlement value. i) Cash & cash equivalents c.ash at baIik aIid iii liaiid includes cash and short term highly liquid investments with a short maturity of tliree months or less froni the date of openii)g tlie deposit. j) Credltors and provision Ci'Lditoi's and pi.ovisioiis are recognised where the charity has 11 present obligatinn arising from a Pclst event that will probably I"efiilt in the transf'er of fuiids to a third party aiid the amount due to settle the oblig<ltion can be nieasured or estiiiiatcd reliLlbly. Creditors and provisions are recognised at tlieir settlement amount. EXPENDITURE 2024 2023 Direct activities Grant fiindiii Goveriiance Total Total Grants made (note 7) Personnel costs Ministries Support services Property costs Office expenses Depreciation Examination fee 41,140 41,140 73,063 10,763 2,722 17,055 7,704 11,825 1,440 165,712 57,33.5 62,683 12,706 2,199 13,280 7,106 11,715 1,320 168,344 73.063 10,763 2,722 17,055 7,704 11,825 1,440 1,440 123,132 41,140
SUTTON CHRISTIAN CENTRE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 EMPLOYEE INFORMATION 2024 Number 2023 Number Staff numbers Full time Part time The stafFcosts for the above persons were: 2024 2023 Staff costs Salaries Social security costs Pension costs 71,133 496 1,434 73,063 60,811 512 1,360 62,683 There were no employees with emoluments above £60,000. Directors and deacons I'he Kc'y Maiiagenient Personnel are the Directors aiid Deacons. No Director or Deacoii i'eceived remuner¢ltii)n except Milce Ikwliemesi wl)o was paid E660 (2023.. £660) for web.site siipport. 'fhe Articles of Associatioii perniits a minority of. Directors to be paid for seivices supplied to the chai'ity. Graiits of E3,500 (2023.. £3,.500) were given to Coiiiiectioiis Trust, a charity registered in England. Antony Florswood, a Dii"ector, is also a Trustee of this charity. £100 raised by Kings Club to Iielp homeless young people was given to Centrepoint Soho, a charity registered in England. Seyi Obal<i n, a Director, is Cliief Execiitive Officer of this cliarity. Two Deacons [2023: four) were reiinbursed for expenses of £4,138 (2023: £3,397) duly inciirred for worship tearn, catering, digital media, evangelism, 125 Year celebration, and mileage. Jan Nicholson was a deacon butstepped down in 2023. No expenses were reinibursed to her during 2024 (2023: £252) Sue Laiigley who is related to one of the Directors was not reimbursed for any expenses this year (2023- £173 for hospitality). The trustees gave unrestricted donations of £8,740 (2023.. £9,980) during the year, There were no other related party transactioiis. 12
SUTTON CHRISTIAN CENTRE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 TANGIBLE ASSETS Freehold ro ert Building Furniture & ui rovements llrnent im Total Cost At l November 2023 Additions Disposals At 31 October 2024 700,000 128,960 90,367 7,241 959 96,649 919,327 7,241 959 925,609 700,000 128,960 Depreciation At l November 2023 Charge for the year Disposals At 31 October 2024 66,194 8,597 87,533 3,228 959 89,802 153,727 11,825 959 164,593 74,791 Net book value At 31 October 2024 700,000 54,169 6,847 761,016 At 31 October 2023 700,000 62,766 2,834 765,600 The freehold property, the chiirch premises at 25 Tate Road, Siitton, Surrey SM 12SY, was valued by the Directors oli an open market basis on l Noveinber 1996 when tlie property was included in the accounts for the first tiine at £200,000. It was re-valued iii October 2017 at £700,000. At transition to FRS 102, this value was treated as deemed cost. DEBTORS 2024 2023 Other debtors Prepayments 28,528 2,722 31,250 14,900 2,829 17.729 CREDITORS 2024 2023 Other creditors Accruals 1,054 2,636 3,690 932 1,788 2,720 13
SUTTON CHRISTIAN CENTRE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 GRANTS MADE 2024 2023 No. No. To advance the Christian religion To organisations: Assemblies of God Christian Solidarity Worldwide Cambodia Action Sutton Scliools Christian Workers Trust 12 12 12 12 180 435 34.5 1,200 2,160 12 12 12 12 180 560 440 1,200 2,380 To encourage Christian Missionary Activity To orgaiiisations.. Connections Trust Living Woi'd Ministries Street Pastors - Mitcham Street Pastors - Sutton Sub-total 3,500 3,500 400 600 8,000 12 600 7,600 12 To individiials Fun(Is donated specifically to SLipport T&L Lewry s Inission iii Brazil 3,184 1,200 25,692 36,476 40,346 49,546 To give relief to the poor & needy and comfort the sick & aged To organisations: Beachy He¢id Chaplaincy Foodbank Suttoii Tobi Adeyemi fioundation ThroLigli The Roof Impact 25..40 1'urkey/Syria (2023: ljkraine) Operation Mobilisation 'furkey/Syria British Heart Foundation Teen Challenge 12 12 300 600 107 60 12 12 300 600 250 250 12 300 1,379 12 12 300 1,700 Funds donated specifically to support various individuals 1,125 2,504 3,709 5,409 Total grants made 41,140 57,335 14
SUTTON CHRISTIAN CENTRE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 FUNDS l November 2023 31 October 2024 Income Ex enditure Unrestricted funds Income funds 999,989 137,822 (136,267] 1,001.544 Restricted funds For poor and iieedy For onward transtnission For T&L Lewry's mission to Bra7.il New bLiilding fund 2,581 1,441 (1,050) 2,972 1,336 2,755 (2,703) 1,388 1,392 90,572 18,995 (25,692) (5.305) 90,572 Total funds 1,095,870 161,013 165,712 1,091,171 The T&L restricted fund is overdrawn because Sutton Cliristian Centre has paid over gift aid on the gifts received in advance of receiving tlie same from HMRC. Below was the position at 31 October 2023., l November 2022 31 October 2023 Income enditure Unrestricted funds Income fiinds 983,286 140,992 [124,289) 999,989 Restricted funds For poor and needy For onward traiismission For T&L Lewry s mission to Brazil New building fund 2,450 1,719 (1,588) 2,581 1,472 1,985 (2,121) 1,336 4,655 90,572 37,083 (40,346) 1,392 90,572 Total funds 1,082,435 181,779 168,344 1,095,870 Restricted fiinds comprise gifts given to be used in specified church activities or to be passed on. 15
SUTTON CHRISTIAN CENTRE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted funds Restricted funds Total Tangible fixed assets Debtors Bank and cash balances Creditors 761,016 31,250 212,968 (3,690) 761,016 31,250 302,595 (3,690} 89,627 1,001,544 89,627 1,091,171 Belowwas the position at 31 October 2023 Unrestricted funds Resti'icted funds 'rotal Tangible fixed assets Debtors Bank and cash balances Creditors 765,600 17,729 219,380 (2,720J 765,600 17,729 315,261 (2,720) 95,881 999,989 95,881 1,095,870 10. SOFA COMPARATIVE 2023 Restricted Note Unrestricted Total Income from Donations Investment income Other Total income 135,777 289 4,926 140,992 40,787 176,564 289 4,926 181,779 40,787 Expenditure on Charitable activities Governance costs Total expenditure 122,969 1,320 124,289 44,055 167,024 1,320 168,344 44,055 Net income/(expenditure) 16,703 (3,268] 13,435 Transfers between funds Net movement in the year Reconciliation of funds Funds brought forward 983,286 99,149 1,082,435 Funds carried forward 999,989 95,881 1,095,870 16