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← Renewal Christian Centre

2024-12-31-accounts

RENEWAL CHRISTIAN CENTRE Consolidated Financial Statements Year Ended 31 December 2024

Charity registration number: 1117019 Company registration number: 5996380

Renewal Christian Centre

Financial Statements

Year Ended 31 December 2024

Contents

Page
Charity Reference and Administrative Details 1
Trustees’ Annual Report 2-11
Independent Auditor's Report 12-14
Statement of Financial Activities 15-16
Balance Sheet 17-18
Statement of Cash Flows 19-20
NotestotheFinancialStatements 21-35

Renewal Christian Centre Charity Reference and Administrative Details

Year Ended 31 December 2024

Charity registration number

1117019

Company registration number

5996380

Trustees

Rev Jonathan Lee Shelly Mills lan Hardie

Senior Management Team

Senior Pastor Rev Jonathan Lee Pastor of Care & Growth Justyn Towler Chief Finance Officer Robin Small Chief Operating Officer Leona Thompson

Registered office

Renewal Christian Centre Lode Lane Solihull West Midlands

Auditor

Sumer Auditco Limited The Beehive Beehive Ring Road London Gatwick Airport Gatwick RH6 OPA

Solicitor

Anthony Collins Solicitors LLP 134 Edmund Street Birmingham B3 2ES

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Renewal Christian Centre Trustees Report including Directors & Strategic Report

Year Ended 31 December 2024

The Trustees present their report and the audited financial statements of the charity for the year ended 31 December 2024. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's Memorandum and Articles of Association, the Charities Act 2011 and 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 published in October 2019.

GOVERNANCE STRUCTURE

Renewal Christian Centre is a registered charity and a company limited by guarantee, governed by Memorandum and Articles of Association, and incorporated 13 November 2006. The Articles of Association were revised and updated in February 2016 and March 2024 to ensure the charity follows best practice in its governance. We area fellowship of Christian people committed to the advancement of the Christian faith and the extension of the Kingdom of God within the Heart of England and the UK, and the relief of persons who are in conditions of need, hardship, or distress.

The Trustees have financial and governance responsibility for the Charity but receive no remuneration (except for the Senior Pastor).

Renewal is part of the Free Methodist Church UK denomination.

As of 31st December 2024, the Trustees and Elders comprised: Jonny Lee (Senior Minister, Elder and Trustee) Niall Cluley (Elder) Neil Guy (Elder) Kevin Thomas (Elder) Harriet Verah (Elder) Bridget Greenfield (Elder) Duncan Everett (Elder) Shelley Mills (Trustee) lan Hardie (Trustee)

The Charity has a Risk Register in place which is reviewed regularly. The Trustees approve appropriate actions to manage and mitigate the risks identified. This is an ongoing process to protect the Charity.

The Senior Pastor, Senior Management Team and staff are responsible for running the Charity on a day-today basis and are accountable to the Trustees.

At Renewal, we benefit from a huge amount of voluntary help. Volunteers serve in all aspects of the life of Renewal, and without their expertise, dedication and support, the church would not be able to function. Our sincere thanks go out to the growing number of people who have helped throughout 2024 and who continue to serve so faithfully.

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Renewal Christian Centre

Trustees Report including Directors & Strategic Report

Year Ended 31 December 2024

Appointments

During 2024, two new Elders were appointed and subsequently became members of the Charity in accordance with Renewal’s Articles of Association.

The new elders are Duncan Everett, and Bridget Greenfield, both appointed on 28 September 2024.

Resignations

Dean Smith resigned as Trustee on 25 April 2024. Cheron Byfield resigned as Trustee on 7 November 2024. Duncan Moore resigned as Trustee on 9 November 2024. Elizabeth Muir resigned as Trustee on 17 November 2024.

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Renewal Christian Centre Trustees Report including Directors & Strategic Report

Year Ended 31 December 2024

Our Mission

We are Renewal. We exist to lift up the name of Jesus.

Renewal exists to lift up the name of Jesus. We lift Jesus up in our words, our actions, by our worship, by sharing the gospel, through the power and presence of the Holy Spirit, through acts of giving and acts of service. We lift up Jesus’ name in our Christian life example; wherever we are, whoever we are with.

Our Values

WE ARE A FAMILY- Sisters and Brothers who belong and grow together and see the kingdom of God grow.

WE ARE A PEOPLE- Together, we are God’s masterpiece, through us He reveals who He is to the world. God desires a people he can set apart - to draw others in.

WE ARE A MOVEMENT - As God's people, we look outwards. Every movement has stages, we see communities transformed, we see new people reached, we see new areas come to life, we don't stop.

Our Vision

Our Vision is to take the Gospel From One To Many, and to see people across the heart of the nation growing in a relationship with Jesus. For people to be known and needed across our locations and online. Through worship gatherings, groups, community hubs, creative spaces, and life development. From One To Many is also the Gospel itself.

2024 Achievements

The Trustees have reviewed the achievements of the charity's main objectives for 2024 and these are summarised below.

Objective 1 — Vision Focuses Looking forward...

2024 — We are not measured by what we do occasionally, but what we do CONSISTENTLY.

Make the Most

Adapt, build and improve — Making the most of the space we have onsite at Renewal, to fulfill the mission from One to Many.

The Foundation

An existing building on our premises, which has been vacant for many years, is currently being refurbished. Planning and Design commenced early 2024 and will continue to be developed through 2025.

Community Hubs

Situated at both our Solihull and Chelmsley Wood (CW) sites. Recognising and helping to meet the needs of the community, supporting the vulnerable and increasing people’s awareness of the church.

Solihull Auditorium Upgrade A full upgrade of the auditorium audio, visual, and lighting was undertaken in June/July 2024. This has improved both the in-person and online experience for Renewal gatherings and provides greater opportunities for bookings within Renewal Enterprises Ltd.

Extend Our Reach

Expanding our boundaries — We are believing for continued growth across all our locations.

Key projects:

Gatherings

5 gatherings each week across all our locations, Solihull morning and evening, Wednesday communion, Chelmsley Wood location, and Stratford location.

Young Adult Internship

Empowering Young Adults (Y/A) leadership team to host evening gatherings. Our evening gathering attendance has grown by 23% over the first half of 2024.

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Renewal Christian Centre Trustees Report including Directors & Strategic Report

Year Ended 31 December 2024

Embracing Age

Reaching out to local care homes, which is supported by our Wednesday gathering.

Groups & Teams - Increase the number of groups to 150. Our group session in September 2024 launched with 787 people in 107 different groups.

Locations

Our Chelmsley Wood location regularly sees more than 100 people attending each week. Our Stratford location have alongside their weekly gatherings started a Café Church which is held monthly which sees several new people attending each month.

Launch New Ventures

New opportunities and fresh ideas — As we grow, we need to push forward and try new things to enable us to move further and faster.

Key projects:

e Renewal Enterprises Ltd

e Online

e Renewal Summer

Renewal Enterprises

Being entrepreneurial with our facilities, resources and skills to help finance the mission of Renewal. In 2024 we doubled our income to what was budgeted, mostly adhoc or one-off bookings.

Online

Continuing to support our online location to reach even more people.

Renewal Summertime

Renewal summertime is our summer school for children in our community which saw 1,144 children in attendance.

Renewal Christmas

2 new themed Christmas gatherings in 2024:- Christingle gathering for young children and families which saw 212 in attendance and Carols in the Park which saw 300 in attendance.

Training & Develop

Engage, support and build up — Developing leaders is a crucial part of our future. We want to see people grow and develop within Renewal.

Key projects:

e Young Adults Internships

e __ Investing in each other

Young Adults Internships

An opportunity for young adults to gain ministry experience, a qualification and demonstrable transferable skills. We now have a partnership with a college so that our interns can earn accreditation.

Investing in each other

In the autumn of 2024, we began a pilot group mentoring and coaching for developing leaders.

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Renewal Christian Centre Trustees Report including Directors & Strategic Report Year Ended 31 December 2024 Objective 2 - Continue to teach Christian faith, living and growing the church both centrally and through regional

expansion.

Renewal continuously strives to monitor its activities in line with mission, vision, values, and activity within all key ministry areas.

Renewal's in-person gathering times are as follows: - Solihull - Sunday at 10am & 6pm, and Wednesday at 11am Chelmsley Wood - Sunday at 11am Stratford-Upon-Avon - Sunday at 10am, and Café Church Monthly

Gatherings & Attendance

Solihull Sunday 10AM average attendance was 505 per gathering. Solihull Sunday 6PM average attendance was 66 per gathering. Solihull Wednesday 11AM average attendance was 79 per gathering. Chelmsley Sunday 11AM average attendance was 102 per gathering. Stratford Sunday 10AM average attendance was 30 per gathering. Renewal Kids All Location averaged 97 in 2024. Baptism Gathering saw 23 baptised in 2024. Baby dedications saw 4 babies dedicated in 2024.

Locations

Renewal is one Church, expressed across multiple locations. Our current locations are Solihull, Chelmsley Wood, and Stratfordupon-Avon.

Renewal Chelmsley Wood

At Chelmsley all the events were attended by local families.

Baptism - We held our first baptismal service with 3 people getting baptised, including a young person. This was attended by approximately 150 people, many of which were visitors.

Baby Dedication - We dedicated 1 baby, which has seen several visitors attend.

Celebrating Diversity — Chelmsley Wood, like other locations, is a very multiethnic congregation and in the last quarter of the year we celebrated that diversity by asking members to wear cultural clothing.

Worship Extravaganza — Chelmsley Wood location hosted their first Worship Night. It was hosted by our amazing worship team and was attended by 100 people.

Men’s Breakfast — Chelmsley Wood hosted several men’s breakfast events with a total of 86 men in attendance. It gave opportunity and space for men to informally gather and have in depth discussion on specific issues being faced by men.

Renewal Kids CW — Chelmsley Wood saw 235 children attend the following events:- Easter trail, Summer Bonanza, and the Christmas Pantomime.

Renewal Stratford

Renewal Stratford saw an average of 30 in attendance weekly. Through the year we introduced cafe church - this is where we invite the local area to a café for coffee, cake and to hear the gospel message, which added a great social element to our church community. We held a Pantomime in December, as part of our Reach focus, and we saw a good number of people attending.

Teams

From September 2024 we have seen the Welcome team grow from 68 people to 81, of which we are seeing 23 serving regularly on a Sunday. We are now going to focus on the heart and culture of serving on team. The new year will see a Teams Fair over the months of March and April, and a Teams Day in June to help shape heart and culture.

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Renewal Christian Centre Trustees Report including Directors & Strategic Report Year Ended 31 December 2024 Youth

In 2024, Youth continued to meet on a Friday night for a time of worship and messages, we saw 55 on average attend. After a summer break, with a new cohort of Year 7s coming through, we saw the average attendance increase to 80. We held two social events on a Friday in March and July where we saw 150 in attendance. Our Christmas social in December saw just over 70 in attendance. Groups Nights happen across all our locations once a month midweek, these are small discussion groups and bible studies, where we average 25 across the locations. We also host a 24/7 Prayer Youth event in March, which saw young people from churches across the Midlands, with around 600 young people attending. This enables us to continue partnerships with various other churches youth groups and organisations across Solihull and Birmingham boroughs. The Youth Weekend Away took place in November 2024 with 82 young people attending. There was a mix of gatherings, worship, workshops and activities. Renewals Young Leaders Programme, designed for those in Year 11 and above, helps to develop their skills in leadership and communication through our Friday nights, we have 10 young people on the program, this also gives the young leaders an opportunity in hosting, speaking and running small groups.

Young Adults

In the early part of 2024, as a team we decided that separating the groups (18-24s and 25-30s) worked for a short time, however the engagement slowed down ever so slightly. We decided that Young Adults needed a refresh. Post September a change in venue and bringing groups together, has brought a better engagement, and we have seen some new faces entering the building. We still have an average 20-30 Young adults as some have naturally moved on or relocated elsewhere. The consistency of the 2nd Thursday being a YA night and 4th Thursday being a YA social has been helpful in consistent growth.

We have been able to develop 3 new Young Adult host to develop their skills on YA nights and hoping that they will start to host within Sunday Gatherings in the new year. We have been able to identify a planning team from Young Adults which consists of 9 people who attend Young Adults consistently. From these meetings, we have managed to create a social media team and a core team to plan the topics for Young Adults. We have been working hard to make sure YA Nights are following the theme and topics delivered on a Sunday into our sessions.

Lastly, our social media influence has We have seen over 700 -1000 views on our reels. Thanks to the support of the social media team and our young adult intern.

Pastoral Care Throughout 2024 we continued to emphasise the importance of groups and teams to allow the church congregation to care for one another. Alongside our groups and team’s strategy, we continued to develop pastoral care teams in all three locations, delivering training on safeguarding, supporting those who are of ill health, convalescing, disability and supporting those with mental health challenges.

Our teams continue to offer visits, phone calls, prayer, communion, and support to over a hundred people each month who are experiencing illness, bereavement, or distress beyond what can be supported within their group or team.

Therapy service In 2024 the Therapy service at Renewal continued to grow, and in 2024 Renewal conducted 751 sessions. We now have five therapists and one student offering counselling in the service. Throughout the year the team took part in training on managing suicidal risk and older adults’ mental health.

Support groups As part of the overall Group Strategy, the groups in our Support collective grew in 2024. Alongside the ongoing support groups for Wellbeing Through Faith, Free to Be Me (Holistic CBT group), Memory Cafe, Carers Support Group, Fostering and Adoption Support Group, Baby Loss, Homeschoolers, Domestic Abuse, Bereavement Groups and Menopause Support. Safe Harbour Renewal added an Eating Disorder to the support groups. This is in partnership with a national support group for those facing eating disorder issues and their families.

Groups Groups at Renewal help people to become a connected, growing, and healthy community. Groups are where we care for each other, grow in our faith, and reach out to serve our Church and our communities. Over the 2024-2025 season our groups have averaged between 110 and 115. The numbers change due to some groups being courses that end. As per reports in January 2024, 843 people participate in groups. This is an increase of 65 more people than the same time last year. We have 100 Group Leaders and 35 Collective Leaders with a small group of 5 key leaders, known as the C-Team who offer essential and vital support to the Groups Assistant Pastor. Groups fall into the following categories: Life Interest Workplace Growth (discipleship) Support Outreach

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Renewal Christian Centre Trustees Report including Directors & Strategic Report

Year Ended 31 December 2024

The approach for groups remains seasonal with graups starting in September of each year, coinciding with the start of a new schoo! term, and wrapping up a season in July just before the summer holidays. This gives the leaders a well-earned break and time for reflection ta plan for the season ahead. We continue the model of working alongside known and reputable charities when we are launching new initiatives into our communities.

Woman to Woman (W2W)

Woman to Woman collective ran several events and programmes throughout 2024.

Quiz Night In February 2024 we held a W2W quiz night with dessert pots which saw 120 ladies in attendance. This was an event where our women could invite friends along for a fun evening of general knowledge quiz and dessert. Some of the topics including fashion, movies, music, around the world, and the Bible. Labs In October 2024 we had our yearly Labs which saw eighty in women attendance, these are designed for any Woman at Renewal, or their friends, to come along and join a seminar style discussion group on a particular topic. The topics were: Because you are worth it, 'The Juggle is real’ Parenting under 3’s, Look after yourself, Look after your money, Culture and Identity Cocktail, Young Adults - Going against the grain. Wreath Making In November 2024 we had our first wreath making day which saw 60 women in total. A local florist came in and taught us how to make wreaths and learnt about where the wreath came from originally. This was a lovely event to start the Christmas season.

Leadership Summits

In October 2024, Renewal held its two-day leadership summit for the national Free Methodist movement with the theme: ‘Challenge of Change’. The Summit was well attended with over 95 leaders present from across the UK and received much positive feedback from the attendees. The Summit was our commitment to supporting the Free Methodist UK Church[in] its training and development of leaders.

Vision Sunday

On the last Sunday of September 2024, the whole Renewal family gathered for Vision Sunday. There was time for reflection over the past 12 months and all God has done in and through us, as well as looking ahead as we revisit our four vision focuses setting milestones for 2025. The vision message from our Senior Pastor was “Consistency is a key word for vision”, we will be known not by what we do occasionally, but what we do consistently. The congregation were encouraged to bring a picnic to share with their group, team, and friends, as we spent time together after the gathering.

Staff Encounter

In May 2024 Renewal held its second Staff encounter. The purpose of this retreat is for training and spiritual development as a team. During this time, we wanted to deepen our relationship with God during our two days stay and seek His face together.

Objective 3 — Continue to increase our impact in the community and locations.

Throughout 2024 we have maintained much of the provision throughout the community. This has included Stay and Play groups at two of our locations, Baby Basics, Recovery Course, an Easter Egg Appeal, and our annual Toy Offering. This is alongside the continuation and development of the Renewal food bank Helping Hands.

Baby Basics

Baby Basics received 60 referrals for babies and families in need through 2024. All referrals received a Moses Basket starter pack including the Moses Basket and stand, nappies, clothes bundles, toys, toiletries etc, and bundled up asa gift for the family. We have received referrals from local hospitals, midwives, health visitors and charities all working with those in vulnerable situations. We have been hugely grateful for all the donations which have come through Church, Stay and Play and local organisation links which goes towards making the contents up of a basket.

Stay and Play

Across both our Chelmsley Wood and Solihull locations, we are currently connecting with 71 parents. The setup of Stay and Play includes Sensory Play as the main element, as well as a story and song time to close the session. There is a time for parents to have refreshments. Parents have been particularly grateful for the ‘one off treats such as daffodils for Mother's Day and Easter Eggs for Easter. There was a need for Childminders to have a space where they could gather, we have provided a separate session for them once a week at the Solihull location. This has been well received and appreciated by this local group. Several parents have shared how this is one of their favourite Stay and Play's due to the nature of it, the connections made and the wider connection to other church events.

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Renewal Christian Centre Trustees Report including Directors & Strategic Report

Year Ended 31 December 2024

Recovery Course We have run one Recovery Course this year, with 2 participants. They were both consistently attending and have connected with wider support services following the course.

Easter Egg Appeal 2024

We collected 5,551 Easter Eggs across the locations through church donations and local businesses. We gave Easter Eggs to 8 primary schools and local community groups as well as our Renewal based outreach activities. We had a variety of donations coming through from internal groups, as a result of these Easter Egg deliveries, we saw 2 new families come to outreach events run at Renewal.

Helping Hands

During 2024, Helping Hands supported the Solihull borough with food parcels. 4,144 people were supported by Helping Hands in 2024. This included 2,113 referrals equating to over 52,856 items, covering over 5,800 miles. These numbers have reduced slightly since 2023; however, this is due to a more robust referral process. During October we had 11 schools do Harvest Collections for us, which brought in a large amount of stock for our Foodbank.

Christmas Toy Offering

Our Community highlight of the year was Toy Offering - providing toys to 462 children across 215 Family. The referrals came from 46 different referrers across Solihull and Stratford boroughs. This included 89 gift cards for children aged 12+ where the bundle also included a box of chocolates, and a toiletry set. We had a great team of 14 volunteers to help us pack up all the toys which had either been donated or purchased through financial giving. Donations came through local businesses, charities and Renewal Church congregation. We offered a Pop-Up shop option for parents to come and choose toys for their children, which provided independence, dignity and connection. The rest of the toys were collected by agencies.

Renewal Missions

Renewal seeks to allocate 10% of undesignated funds each year to support missions work and to distribute gifts to needy causes. Key focuses for 2024 were donations to Widows and Orphanage projects, a church plant which is part of the FM Group. The charity was able to donate funds to the value of £69k to numerous organisations nationally and overseas.

At Renewal, we benefit from a huge amount of voluntary help. Volunteers serve in all aspects of the life of Renewal, and without their expertise, dedication and support, the church would not be able to function. Our sincere thanks go out to the growing number of people who have helped throughout 2024 and who continue to serve so faithfully.

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Renewal Christian Centre Trustees Report including Directors & Strategic Report

Year Ended 31 December 2024

FINANCIAL REVIEW

RESERVES POLICY

The Trustees adhere to a policy of always maintaining sufficient Reserves (Total of Unrestricted and Restricted funds) for three months expenditure.

At the year-end there are unrestricted funds of £7,758,812 and restricted funds of £575,972. The Charity’s income has exceeded its expenditure by £24,433 (2023: £8,799) for the year.

Recruitment and appointment of new Trustees

In selecting individuals for appointment as Trustees, the Trustees have regard to skills, knowledge and experience needed for the effective administration of the charity.

Induction and training of new Trustees

Trustees must make available to each new Trustee on their first appointment: a copy of the Deed and any amendments made to it, a copy of the Charity’s latest report and statement of accounts. They should emphasise the Responsibilities of the Trustees detailed in the Report.

Events after the end of the period

The Trustees are confident that the Charity can continue as a going concern.

The Trustees, working closely with the Elders and Executive Team, have the infrastructure in place to continue our Mission to lift up the name of Jesus.

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Renewal Christian Centre

Trustees Report including Directors & Strategic Report

Year Ended 31 December 2024

Trustees’ responsibilities

The Trustees (who are also the directors of Renewal Enterprises Limited for the purposes of company law) are responsible for preparing the Report of the Trustees 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 group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group 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 group 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 group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to the auditors

We, the directors of the company who held office at the date of approval of these Financial Statements as set out above each confirm, so far as we are aware, that:

In approving the Trustees' Annual Report, we also approve the Strategic Report included therein, in our capacity as company directors.

Signed on behalf of the board of Trustees

J Lee <I S Mills Senior Pastor /Trustee Trustee

Date: 24 \ $ 2s

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Renewal Christian Centre

Independent Auditors Report

Year Ended 31 December 2024

Independent Auditor’s Report to the Members of Renewal Christian Centre

Opinion

We have audited the financial statements of Renewal Christian Centre (the ‘parent charitable company’) and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise statement of financial activities, statement of cashflows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements:

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 auditor responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent 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 group and parent 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 other information comprises the information included in the trustees’ annual report , other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information. 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.

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 course of 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.

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Renewal Christian Centre Independent Auditors Report

Year Ended 31 December 2024

Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act

2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 11, the trustees (who are also the directors of the parent 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 group and parent 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 group or parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor 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 an auditor's report 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 fromsfraud 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.

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Renewal Christian Centre Independent Auditors Report

Year Ended 31 December 2024

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the FRC's’ website at: https://Awww.frc.org.uk/auditors/audit-assurance/auditor-s-responsibilities-for-the-audit-of-the-fi/description-ofthe-auditor%E2%80%99s-responsibilities-for.

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 auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other thanfhe charitable company and the charitable company’s members as a body, for our audit work, for this repag or for the opinions we have formed.

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Renewal Christian Centre

Statement of Financial Activities including Income and expenditure

Year Ended 31 December 2024

GROUP

GROUP
2024 2023
Unrestricted Restricted
funds funds Total Total
Note £ £ £ £
Income and endowments from:
Donations and legacies 3 1,100,864 205,820 1,306,684 1,282,635
Conference Centre & Coffee Shop 4 82,210 - 82,210 50,207
Other trading activities 157,014 - 157,014 135,649
Investments 2,678 - 2,678 2,365
Total income and endowments 1,342,766 205,820 1,548,586 1,470,856
Expenditure on:
Conference Centre & Coffee Shop 6 42,443 - 42,443 18,788
Charitable activities 7 1,266,753 115,326 1,382,079 1,344,000
Governance Costs 8 99,631 - 99,631 99,269
Total expenditure 1,408,827 115,326 1,524,153 1,462,057
Net income / (expenditure) (66,061) 90,494 24,433 8,799
Reconciliation of funds:
Total funds brought forward 7,824,873 485,478 8,310,351 8,301,553
Totalfundscarriedforward 7,758,812 575,972 8,334,784 8,310,352

All income and expenditure derive from continuing activities.

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Renewal Christian Centre Statement of Financial Activities including Income and expenditure

Year Ended 31 December 2024

CHARITY 2024 2023
Note Unrestricted funds Restricted
funds Total Total
£ £ £ £
Income and endowments from:
Donations and legacies 3 1,100,864 205,820 1,306,684 1,282,635
Other trading activities 5 165,014 - 165,014 135,649
Investments 2,678 - 2,678 2,364
Total income and endowments 1,268,556 205,820 1,474,376 1,420,648
Expenditure on:
Charitable activities 1,250,753 115,326 1,366,079 1,317,233
Governance Costs 93,594 - 93,594 93,894
Total expenditure 1,344,347 115,326 1,459,673 1,411,127
Net income / (expenditure) (75,791) 90,494 14,703 9,521
Reconciliation of funds:
Total funds brought forward 7,825,477 485,478 8,310,955 8,301,434
Totalfundscarriedforward 7,749,686 575,972 8,325,658 8,310,955

All income and expenditure derive from continuing activities.

16

Renewal Christian Centre

Balance Sheet

Year Ended 31 December 2024
2024 2023
GROUP
Note £ E
Fixed assets
Tangible assets 14 8,387,771 7,906,893
8,387,771 7,906,893
Current assets
Debtors and Prepayments 16 90,124 83,311
Cash at bank and in hand 974,126 941,115
1,064,250 1,024,426
Creditors: amounts falling due within one year 17 (748,136) (620,967)
Net current assets 316,114 403,459
Total assets less current liabilities 8,703,885 8,310,352
Creditors: amounts falling due aftermore than one year 18 (369,101) -
Net assets 8,334,784 8,310,352
Charity Funds
Restricted funds 19 575,972 485,478
Revaluation Reserve 20 1,175,126 1,175,126
Unrestricted funds 20 6,583,686 6,649,748
Totalcharityfunds 20 8,334,784 8,310,352

The group is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2024, although an audit has been carried out under section 144 of the Charities Act 2011.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements were approved and authorised for issue by the Board on 24) [2s

Signed on behalf of the board of Trustees

----- Start of picture text -----
J Lee9 co ae SLnMills
Senior Pastor /Trustee Trustee
----- End of picture text -----

Signed on behalf of the board of Trustees

The notes on pages 21 to 35 form part of these financial statements.

Company registration number: 0599638

i104

Renewal Christian Centre

Balance Sheet

Year Ended 31 December 2024

Year Ended 31 December 2024
2024 2023
CHARITY
Note £ £
Fixed assets
Tangible assets 15 8,368,869 7,885,318
Investments 13 150,000 134,000
8,518,869 8,019,318
Current assets
Debtors and Prepayments 16 86,395 77,505
Cash at bank and in hand 825,014 826,171
911,409 903,676
Creditors: amounts falling due within one year 17 (735,519) (612,039)
Net current assets/ (liabilities) 175,890 291,637
Total assets less current liabilities 8,694,759 8,310,955
Creditors: amounts falling due after more than one year 18 (369,101) -
Net assets/ (liabilities) 8,325,658 8,310,955
Charity Funds
Restricted funds 19 575,972 485,478
Revaluation Reserve 20 1,175,126 1,175,126
Unrestricted funds 20 6,574,560 6,650,351
Totalcharityfunds/(deficit) 20 8,325,658 8,310,955

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2024, although an audit has been carried out under section 144 of the Charities Act 2011.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements were approved and authorised for issue by the Board on a4 ) é3 yrs

----- Start of picture text -----
Signed on behalf of the board of Trustees
J Lee SS. W— S MillsXnulle
Senior Pastor /Trustee Trustee
----- End of picture text -----

The notes on pages 21 to 35 form part of these financial statements.

Company registration number: 05996380

18

Renewal Christian Centre

Statement of Cash Flows

Year Ended 31 December 2024
2024 2023
GROUP Note £ £
Cash flowfrom operating activities 22 144,517 122,856
Net cash flow from operating activities 144,517 122,856
Cash flow from investing activities
Payments to acquire tangible fixed assets (535,474) (25,310)
Receipts from sales of tangible fixed assets - 44
Interest received 2,678 2,364
Net cash flow from investing activities (532,796) (22,902)
Cash flow from financing activities
Bank loan advances received 450,000 -
Repayment of long term loans (28,710) -
Net cash flow from financing activities 421,290 -
Net increase / (decrease) in cash and cash equivalents 33,011 99,954
Cash and cash equivalents at 31 December 2023 941,115 841,161
Cash and cash equivalents at 31 December 2024 974,126 941,115
Cash and cash equivalents consists of:
Cash at bank and in hand 974,126 941,115
Cashandcashequivalentsat31December2024 974,126 941,115

19

Renewal Christian Centre

Statement of Cash Flows

Year Ended 31 December 2024

Year Ended 31 December 2024
2024 2023
CHARITY Note £ £
Cash flow from operating activities 23 121,417 115,045
Net cash flow from operating activities 121,417 115,045
Cash flow from investing activities
Payments to acquire tangible fixed assets (530,542) (25,310)
Receipts from sales oftangible fixed assets - 44
Interest received 2,678 2,364
(Gain) / loss on investments (16,000) (26,000)
Net cash flow from investing activities (543,864) (48,902)
Cash flow from financing activities
Bank loan advances received 450,000 -
Repayment of long term loans (28,710) -
Net cash flow from financing activities 421,290 -
Net increase / (decrease) in cash and cash equivalents (1,157) 66,143
Cash and cash equivalents at 31 December 2023 826,171 760,028
Cash and cash equivalents at 31 December 2024 825,014 826,171
Cash and cash equivalents consists of:
Cash at bank and in hand 825,014 826,171
Cashandcashequivalentsat31December2024 825,014 826,171

20

Renewal Christian Centre

Notes to the Financial Statements

Year Ended 31 December 2024

(a) General information and basis of preparation

Renewal Christian Centre is a company Limited by Guarantee in England. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. The address of the registered office is given in the charity information on page 1 of these financial statements, The nature of the charity's operations and principal activities are advancement of the Christian faith. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

(b) Funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

(c) Income recognition

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount fs recognised in expenditure.

Blankets, clothing, food etc. received and given to the community have been considered to have a nil market value while any other services provided are included at market value.

21

Renewal Christian Centre

Notes to the Financial Statements

Year Ended 31 December 2024

No amount is included in the financial statements for volunteer time in line with the SORP. Further detail is given in the Trustees’ Annual Report.

Where practicable, gifts in kind donated for distribution to the beneficiaries of the charity are included in stock and donations in the financial statements upon receipt. If it is impracticable to assess the fair value at receipt or if the costs to undertake such a valuation outweigh any benefits, then the fair value is recognised as a component of donations when it is distributed and an equivalent amount recognised as charitable expenditure.

Gifts in kind donated for resale are included at fair value, being the expected proceeds from sale less the expected costs of sale. Where estimating the fair value is practicable upon receipt it is recognised in stock and ‘Income from other trading activities’. Upon sale, the value of the stock is charged against ‘Income from other trading activities’ and the proceeds are recognised as ‘Income from other trading activities’. Where it is impracticable to fair value the items due to the volume of low value items they are not recognised in the financial statements until they are sold. This income is recognised within ‘Income from other trading activities’.

Fixed asset gifts in kind are recognised when receivable and are included at fair value. They are not deferred over the life of the asset.

For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.

Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.

Investment income is earned through holding assets for investment purposes such as shares and property. It includes dividends, interest and rent. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established.

The charity receives government grants in respect of work within the local community. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

(d) Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.

22

Renewal Christian Centre

Notes to the Financial Statements

Year Ended 31 December 2024

(e) Support costs allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.

Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.

The analysis of these costs is included in note 6.

(f) Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

The Trustees expect the residual value of the land and buildings not to be significantly different to the amounts shown in the accounts. Depreciation is not provided as building is very well maintained and Trustees believe an increase in the value of the land on which the building stands does not affect the determination of the depreciable amount of the building.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Freehold buildings Not provided
Computer equipment 33% on cost
Equipment 10% on cost
Fixtures and fittings 10% on cost
Motorvehicles 20%onthereducingbalance

(g) Investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Investments in subsidiaries are measured at cost less impairment.

(h) Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

(i) Provisions

Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

23

Renewal Christian Centre

Notes to the Financial Statements

Year Ended 31 December 2024

(j) Leases

Rentals payable and receivable under operating leases are charged to the SoFA ona straight line basis over the period of the lease.

(k) Employee benefits

When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The charity operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

(I) Tax

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

(m) Going concern

The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

2 Judgement and key sources of estimation uncertainty

The board have made judgements and key estimates in the process of applying the above accounting policies.

Land & building - The board have made an assessment on the residual value of the land and buildings not to be significantly different to the amounts shown in the accounts. The assessment was made on an open market value basis by reference to market evidence of transactions prices of similar properties within the surrounding area.

3 Income from donations and legacies

2024 2023
£ £
Gift Aid donations 869,277 871,609
Gift aid 218,796 216,960
Donations 168,299 183,689
Grant funding 50,312 10,377
1,306,684 1,282,635

£205,820 (2023 - £167,415) of the above income was attributable to restricted funds. £1,100,864 (2023 - £1,115,220) of the above income was attributable to unrestricted funds.

24

Renewal Christian Centre

Notes to the Financial Statements

Year Ended 31 December 2024

4 Conference Centre and Coffee Shop

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |2024|2023| |£|£| |Conference|Centre|Income|58,199|33,337| |Coffee|Shop|1,251|1,437| |Family|Centre|Room|Hire|22,760|15,433| |82,210|50,207| |All|income|was|attributable|to|unrestricted|funds.| |5|Income|from|other|trading|activities| |2024|2023| |£|£| |Community|&|Other|Ministries|132,580|118,098| |Young|People|24,434|17,551| |Rental|Income|8,000|-| |165,014|135,649| |All|income|was|attributable|to|unrestricted|funds.| |6|Conference|Centre|and|Coffee|Shop|Costs| |2024|2023| |£|£| |Catering|8,686|3,283| |Postage,|Stationery|and|Advertising|41|66| |Hire|of|Equipment|142|159| |Web|Page,|Internet|and|Computer expenses|2,698|1,964| |Bank|Charges|106|397| |Licence|fee|for|use|of|premises|4,144|5,784| |Depreciation|—|Fixtures|and|Fittings|7,605|7,135| |Property|repairs|and|maintenance|1,489|-| |Salaries|17,532|-| |42,443|18,788|

----- End of picture text -----

All expenses were attributable to unrestricted funds.

25

Renewal Christian Centre

Notes to the Financial Statements

Year Ended 31 December 2024

7 Analysis of expenditure on charitable activities

Grant funding of Support costs Support costs 2024 2023
_
=		 activities
_ eo
oa		 E
Property— repairsand maintenance _ 73,178 [ : 73,178
Catering
_		 16,969 = 16,969 ©
Salaries
Licences _
:
_Media Department
if
 (214,556
17,412]
72,124
 396,367
-
-
_ Renewal Global 69,456 - 69,456
_ Pastoral Care 2,468
 = 2,468 ©
Free Methodists UK 22,146, = 22,146 © 22,304
Youth 67,564
 - 67,564 —
Children
_Travelling
4,559
©
1,145		 -
-
4,559
1,145
Training and Courses 12,082
 = 12,082 -
Special Events Aho! = 17,752
Visiting Speakers 30,896 - 30,896
Other Ministries 52,187
 = _BZ, 168
_Household and cleaning 75,037 3,949 78,986
Rates and Water — 4,022 271 4,233
Insurance
Light and Heat
HireofPremises

27,351
— 49,646
_
25,904
 )
Web Page and Internet 8,204
©		 - 8,204 © 7,820
Depreciation— Fixtures and fittings
 Depreciation—MotorVehicles
HireofEquipment
32,476
286
—
=		 =
-
_ Telephone =
=		 16,013 16,013
Post and Stationery =
 7,956 7,956
_Depreciation — Equipment = 2,065 2,065 ©
Sundry
Depreciation—Computer equipment
=
=
{
—		 —_ 4,558
10/389
(Gain) Loss on disposal offixed assets _ ai 1,775 1,775 5,727
Bank Charges and Interest =
 28,200 28,200 17,610
897,420 484,659 1,382,079 1,344,000

£115,326 (2023 - £94,080) of the above costs were attributable to restricted funds. £1,266,753 (2023 - £1,249,153) of the above costs were attributable to unrestricted funds.

8 Governance costs

2024 2023
£ £
Salaries 82,843 81,009
Accountancy 6,037 5,375
Auditors Fees 7,155 6,727
Professional Fees 3,596 6,158
99,631 99,269

26

Renewal Christian Centre

Notes to the Financial Statements

Year Ended 31 December 2024

9 Net income / (expenditure) for the year

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

----- Start of picture text -----
||||||||||| |---|---|---|---|---|---|---|---|---|---| |2024|2023| |£|£| |Depreciation|of tangible|fixed|assets|52,821|51,866| |Loss|/|(gain)|on|disposal|of tangible|fixed|assets|1,775|5,727|

----- End of picture text -----

10 Auditor’s remuneration

The auditor's remuneration amounts to an audit fee of £7,155 (2023 - £6,727) and preparation of accounts of £6,037 (2023 - £5,375).

  1. Trustees’ and key management personnel remuneration and expenses

One Trustee & Pastor received remuneration during the year £78,546 (2023 - £77,547).

The total amount of employee benefits received by key management personnel is £220,074 (2023 - £211,705).

No Trustees are accruing pension arrangements.

The Trustees had expenses travel reimbursed during the year £527 (2023 - £1,737).

27

Renewal Christian Centre

Notes to the Financial Statements

Year Ended 31 December 2024

12 Staff costs and employee benefits

The average monthly number of employees and full time equivalent (FTE) during the year was as follows:

- 7 _ 2024 2024 2024 2023 2023 2023
=; - ; _ Number FTE ~ Number FTE
Raising funds [ Z AF
Charitable activities _ - 22] 14
 24.
Governance o _ ef 2] a:
Total 39 28; —s«40 —s«40

The total staff costs and employee benefits were as follows:

2024 2023
£ £
Wages and salaries 796,580 745,198
Social security 62,480 56,716
Defined contribution pension costs 37,022 35,063
896,082 836,977

Staff costs and employee benefits of £17,532 (2023 - £0) are paid by Renewal Enterprises Limited.

The number of employees who received total employee benefits (excluding employer pension costs of more than £60,000 is as follows:

2024 2023
Number Number
£70,001 - £80,000 1 1
aa os Se

28

Renewal Christian Centre

Notes to the Financial Statements

Year Ended 31 December 2024

13. Fixed asset investments
2024 2023
£ £
Investments brought forward 134,000 108,000
Revaluation 16,000 26,000
150,000 134,000

Other investments are measured at cost less impairment on the basis that they represent shares in entities that are not publicly traded, and the fair value cannot otherwise be measured reliably.

A revaluation uplift was reported during the year following an increase in the subsidiary’s capital and reserves.

The wholly owned subsidiary of Renewal Christian Centre is Renewal Enterprises Limited (formerly Renewal Conference Centres Limited). The company number is 06008651. Registered office Lode Lane, Solihull, West Midlands, B91 2JR. At the year end, the aggregate capital and reserves of the company amounted to £159,892 with profits reported of £25,729.

29

Renewal Christian Centre

Notes to the Financial Statements

Year Ended 31 December 2024

14 Tangible fixed assets - Group

Freehold Equipment Fixtures and Computer
Motor
_ Property _ ~ fittings equipment
_
vehicles		 Total

Z
Cost or valuation:
_At1 January 2024
Additions
Pe
eh
La
pelt -
7,775,000**		 **
132,840		 TE
we
23,526
2 795
Disposals Z
-		 (1,500) - (5,024)
At 31 December2024 7,907,840 24,821 740,675 91,846
10,655		 8,775,837
Depreciation:
At 1 January 2024
Charge for the year
Eliminated on disposals		 fi
“=
-
L
is
_ >

=
-		 9,553
2,065
(213)

a
At31 December 2024 = 11,405 308,134 59,017
9,511		 388,067
Net book value: , .
_
_At 31 December 2024 7,907,840 13,416 432,541 32,829
1,144		 8,387,770
At 31 December 2023 7,775,000 _—-13,973 98,280 ~—s 18,210
= 1,430		 ~—_— 7,906,893
The net book value of land and buildings comprised:
2024 2023
£ £
Land and buildings:
Freehold 7,907,840 7,775,000
The historic cost equivalent of land and buildings included at valuation are as follows:
2024 2023
Land and Land and
- ; buildings buildings
2
£000
 _
Cost = > 6,599,874 6,599,874
Accumulated impairment losses
-_
_ Accumulated depreciation - :
Netbookvalue _ _ _
6,599,874		 6,599,874

Certain freehold land and buildings included above were recognised using a previous valuation by Aitchison Raffety at 31s‘ December 2017 as a deemed cost on transition to the FRS102. These assets have a net book value of £7,775,000 (2023 - £7,775,000). The historic cost equivalent of these assets is £6,599,874 (2023 - £6,599,874).

30

Renewal Christian Centre

Notes to the Financial Statements

Year Ended 31 December 2024

15 Tangible fixed assets - Charity

Freehold Equipment Fixtures and Computer Motor
—
1-2)ce es
_Costor valuation:
“Att January2024
_Additions
_Disposals
 Property
ae
a
Se aeA
=e
—7,775,000-—-23,526
132,840 = 2,795
-
(1,500)		 fittings =
A
cae
Fe
_
278,670
= 370,420
-		 equipment
ee
a
«68,326
24,486
(5,024)		 vehicles
a
SS
 10,655
-
_At31 December 2024 7,907,840 24,821 649,090 87,787 10,655 8,680,194
_Depreciation:
At 1 January2024
Charge fortheyear,
;
-
=
9,553]
2,065
-
Disposals
:
 At31 December2024 -
 (213)
11,405		 -
= 234,441		 (4,537)
55,967		 -
9,511
[
_Net book value: Sea ee ie
At 31 December 2024 7,907,840 13,416 414,649 31,821 1,144 8,368,870
LA
=		 ee
“At31December2023 7,775,000 13,973 76,705. «18,210 ~—«*'1,430 7,885,318

The net book value of land and buildings comprised:

2024 2023
£ £
Land and buildings:
Freehold 7,907,940 7,775,000
The historic cost equivalent of land and buildings included at valuation are as follows:
2024 2023
Land and Land and
; buildings - ; buildings
Cost : Sex =— ; 6,599,874
Accumulated impairment losses = aif)
_ Accumulated depreciation 7 ; - -
Net book value _ = 6,599,874 6,599,874
L — = ee _

Certain freehold land and buildings included above were recognised using a previous valuation by Aitchison Raffety at 31s* December 2017 as a deemed cost on transition to the FRS102. These assets have a net book value of £7,775,000 (2023 - £7,775,000). The historic cost equivalent of these assets is £6,599,874 (2023 - £6,599,874).

aid

Renewal Christian Centre

Notes to the Financial Statements

Year Ended 31 December 2024

16 Debtors

GROUP CHARITY CHARITY
2024 2023 2024 2023
£ £ £ £
Trade debtors 47,349 41,109 35,620 35,303
Prepayments 42,775 42,202 50,775 42,202
90,124 83,311 86,395 77,505

17 Creditors: amounts falling due within one year

GROUP GROUP CHARITY CHARITY
2024 2023 2024 2023
£ £ £ £
Trade creditors 46,241 28,847 46,241 28,569
Social security & other taxes 20,399 15,407 14,226 13,074
Other creditors 602,079 533,552 601,311 532,435
Accrued expenses 27,228 43,161 21,552 37,961
Bank loans 52,189 - 52,189 -
748,136 620,967 735,519 612,039
Creditors: amounts falling due after one year
GROUP CHARITY
2024 2023 2024 2023
gE £ £ £
Bank loans 369,101 - 369,101 -
369,101 - 369,101 -

18 Creditors: amounts falling due after one year

The bank loans are secured by fixed and floating charges over the all the property and undertaking of the company in favour of Reliance Bank Limited, dated 30 May 2024.

32

Renewal Christian Centre

Notes to the Financial Statements

Year Ended 31 December 2024

19 Funds reconciliation — Restricted

Balance at 1 Balance at 1 Balance at 31
January 2024 Income Expenditure December 2024
£ £ £ ba
Forget Thee Not 502 840 1,342 -
Vision 448,856 174,864 78,006 545,714
Toy Offering 2;577 3,500 2,577 3,500
Relief Fund 21,824 23,996 22,399 23,421
Savings 2,022 2,620 1,805 3,337
Emergency Relief 6,140 - 6,140 -
Asda Foundation 510 - 510 -
Cinnamon Network 2,000 - 2,000 -
Chelmsley Wood 547 - 547 -
485,478 205,820 115,326 575,972

Fund descriptions

Forget Thee Not is a fund set up from donations to support members who have suffered a bereavement of a loved one. Vision fund is to support the Charity to move forward in its vision. Launch of ‘Let us Start’ campaign, which will see Classic Building.

Toy Offering is a fund which is set up to ensure all children receive gifts at Christmas.

Relief Fund was set up in March 2020 to bring relief to those in financial hardship or difficulty, due to circumstances out of their control.

Emergency Relief Appeal is support those who are fleeing persecution within their home country.

Asda Foundation — funding towards Baby Basics **

Cinnamon Network - funding towards Baby Basics **

Chelmsley Wood - funding towards Baby Basics **

** Baby Basics UK network of volunteer led centres aiming to support new mother and families who are struggling to meet the financial and practical burden of looking after a new baby.

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Renewal Christian Centre

Notes to the Financial Statements

Year Ended 31 December 2024

20 Group Analysis of net assets between funds

Unrestricted Revaluation Restricted funds
= _ —_ funds ___ Reserve
Total
a fo
_Fixed assets
_Cash and current		 ==.
assets
__
-		 7,212,645
488,278		 1,175,126
**		 **
-
_ Current liabilities 7 (748,136) -{ =
_Non-current liabilities ; (369,101) - -
 (369,101)
Total — 6,583,686 1,175,126
 575,972 8,334,784
Charity Analysis of net assets between funds
Unrestricted Revaluation Restricted funds
aaa a
ees
a		 funds
es
es
ee Oe
7,343,743		 Reserve
Total
ee ee
ee ee
ene es(ee eee, ae
1,175,126
(8,518,869
Current liabilities
Non-current liabilities		 (735,519)
(369,101)
6,574,560		 = - —
=-]

Charity Analysis of net assets between funds

On transition to FRS 102, properties were revalued, and the revalued amount is considered deemed cost.

The valuation was made by Trustees on an open market value basis by reference to market evidence of transactions prices of similar properties within the surrounding area.

21 Operating lease commitments

2024 2023 £ £

At the reporting end date, the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

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2,634
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Renewal Christian Centre

Notes to the Financial Statements

Year Ended 31 December 2024

22 Reconciliation of net income / (expenditure) to net cash flow from operating activities (GROUP)

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |2024|2023| |£|£| |Net|income|/|(expenditure)|for year|24,432|8,798| |Interest|receivable|(2,678)|(2,364)| |Depreciation|and|impairment|of tangible|fixed|assets|52,821|51,867| |(Profit)|/|loss|on|disposal|of tangible|fixed|assets|1,775|5,727| |(Increase)|/|Decrease|in|debtors|(6,813)|(9,337)| |Increase|/|(Decrease)|in|creditors|74,980|68,165| |Net|cash|flow|from|operating|activities|144,517|122,856|

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||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---| |23|~+Reconciliation|of|net|income|/|(expenditure)|to|net|cash|flow|from|operating|activities| |(CHARITY)|

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |2024|2023| |£|£| |Net|income|/|(expenditure)|for|year|14,703|8,754| |Interest|receivable|(2,678)|(2,364)| |Depreciation|and|impairment|of tangible|fixed|assets|45,216|44,732| |(Profit)|/|loss|on|disposal|of tangible|fixed|assets|1,775|5,727| |(Increase)|/|Decrease|in|debtors|(8,890)|(9,930)| |Increase|/|(Decrease)|in|creditors|71,291|68,126| |Net|cash|flow from|operating|activities|121,417|115,045|

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24

Pensions and other post-retirement benefits

Defined contribution pension plans

The charity operates a defined contribution pension plan for its employees. The amount recognised as an expense in the period was £37,022 (2023 - £35,063).

25 _— Related party transactions

Renewal Christian Centre is the parent undertaking of Renewal Enterprises Limited, a registered limited company. Some of the Trustees of Renewal Christian Centre are also the directors of Renewal Enterprises Limited. During the year, a licence charge of £8,000 was charged between the two entities.

26 Non-audit services provided by auditor

In common with many businesses our size and nature we use our auditor to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

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