Company number: 05971999 

## **Q YORK** 

**A company limited by guarantee and** 

**a registered charity no. 1119326** 

**ANNUAL REPORT AND FINANCIAL STATEMENTS** 

## **FOR THE YEAR ENDED** 

**5 APRIL 2024** 

## **UNAUDITED** 

**H P H** 

**Chartered Accountants 54 Bootham YORK YO30 7XZ** 



## **Q YORK** 

## **ANNUAL REPORT AND FINANCIAL STATEMENTS** 

## **FOR THE YEAR ENDED 5 APRIL 2024** 

## **CONTENTS** 

||**Page**|
|---|---|
|Directors' and Trustees' Annual Report|1 - 5|
|Independent Examiner's Report|6|
|Statement of Financial Activities|7|
|Balance Sheet|8 - 9|
|Statement of Cashflows|10|
|Notes to the Financial Statements|11 - 21|





## **Q YORK** 

## **DIRECTORS’ AND TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2024** 

The Directors and Trustees (whose details are shown in the reference and administrative information section of this report) are pleased to present their Annual Report together with the Financial Statements of the Charitable Company for the financial year ended 5 April 2024. 

The Financial Statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, 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 (FRS 102) (effective 1 January 2019). 

The Charity is a Public Benefit Entity as defined by FRS 102. 

## **Objects and Activities:** 

## **The Objects of the Charitable Company are for the benefit of the public as set out in the Memorandum and Articles of Association:** 

- a) To advance the Christian Faith in accordance with the statement in such ways and in such parts of the United Kingdom or the world as the directors from time to time may think fit; 

- b) To relieve sickness and financial hardship and to promote and preserve good health by the provision of funds, goods or services of any kind including through the provision of counselling and support in such parts of the United Kingdom or the world as the directors from time to time think fit; 

- c) To advance education in such ways and in such parts of the United Kingdom or the world as the directors from time to time think fit. 

## **Summary of the main activities in relation to these objectives:** 

QChurch open meetings for all ages for the purpose of exploring/reflecting upon Christian faith. QKids activities for 5-11-year-olds. 

Open for all ages 'Walk and Talk' events to provide companionship, support and care. QGardening support for the more elderly in our wider community who are not easily able to manage this themselves. 

QProduction events designed to offer great experiences to the wider York community. 

The Directors/Trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the Directors/Trustees consider how planned activities will contribute to the aims and objectives they have set. 

## **Achievements and Performance:** 

The charity continues to operate based on volunteer contributions at all levels, which is a credit to the community’s commitment to thrive in new ways. Our one remaining staff member left his post in June 2024 but continues to help lead on a voluntary basis. His decision has helped release finance, as has the sale of one of the assets to support crucial fixes to the roof, a significant cost due to the status as a listed building, but we shall recoup some of the cost over time when we return to building hires. 

The updated directors’ group, as mentioned in last year’s report, remain actively involved in the decision making and day to day running of the charity, as do the additional 3 leaders who make up the whole team.  Roles and responsibilities continue to be shared in a collaborative way.  We remain supported by a regular guest speaker who is affiliated with the Church of England and additional speakers now make contributions also via our continued Sunday morning gatherings and our new community lectures. 

Up until July 2024, we continued to present conversation each week centred around principles of Christian faith, with a maintained inclusive approach to wherever people find themselves on their spiritual journey: we remain committed to allowing any question and encouraging individual and collective growth. 

1 



## **Q YORK** 

## **DIRECTORS’ AND TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2024 (CONTINUED)** 

## **Achievements and Performance (continued):** 

Last year we reported that we had introduced some variation in how we deliver our content in opting for a more ‘round table’ approach some weeks, inviting open questions and discussions more informally. We do this most weeks, initially due to the challenges with the damaged roof, then by design as we have found that it lends itself to rich dialogue. We continue to make the core content available free of charge via our website and other media outlets, enabling us to reach a wider audience with our message. 

Our weekly children’s ministry continues. Its aims, reported last year, remain the same: to create an environment and plan activities in which children are building the skills of being conscious of their feelings, being confident enough to be honest and being curious about life, truth and how we can live well together.  We have also continued our gardening group, ‘Walk and Talk’ and other community events. As reported last year, these are designed to build open, safe relationships so those attending experience a sense of belonging, love and acceptance. We continue to offer other aspects of pastoral care too as needs arise, financial and practical in other ways. 

The charity has opened a café bar in the rear of our building, which is helping with income generation as well as rental income from one of our properties. 

## **Financial Review:** 

The financial activities of the Charitable Company cover the year ended 5 April 2024. 

## **Investment and reserves policies:** 

The exercising of faith in the area of provision is an inherent part of our belief. The necessity to uphold this belief has an impact on our reserves policy. We do not believe in retaining excessive funds as a safeguard to unrealised adverse financial circumstances. Also, as a body with no external funding the people belonging to the charity understand the process of faith and faithfulness in giving. Having said that, the Directors/Trustees have acted responsibly over the years building a considerable amount of equity in the properties owned by the charity consisting of the church building itself, a large house (previously used as an office) and one smaller but valuable house adjacent to the church building. Some or all the equity in these properties could be realised if a need arose. Funds which are not needed for immediate use are placed in an investment account with easy access to be drawn on as and when required. 

## **Details of any funds materially in deficit:** No funds were in deficit at the year end. 

**Principal sources of funds:** The principal source of finance remains the voluntary giving of the people through “tithes & offerings” - £51,534 (2023 - £86,164). 

Other income sources: 

Children & Youth - £Nil (2023 - £30) Other trading activities - £31,336 (2023 - £9,831) 

We are constantly exploring ways by which added ministries will be either totally or partially supported by their own income. 

**How expenditure supports key activities of the charity:** The three main areas supported by the expenditure are: 

Staff - £30,651 (2023 - £39,627). Buildings & Equipment - £70,366 (2023 - £57,643). Mission and Charity Grants - £4,127 (2023 - £10,213). 

2 



## **Q YORK** 

## **DIRECTORS’ AND TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2024 (CONTINUED)** 

## **Financial Review (continued):** 

A more detailed breakdown of the expenditure on charitable activities is shown in notes 7 and 8 to the financial statements on page 14. 

The charity’s outturn for the year was a deficit of £53,153 (2023 – deficit £36,533), which when deducted from reserves brought forward, gave rise to unrestricted funds to carry forward at the year end of £989,164 (2023 - £1,042,317), of which £714,573 relates to the revaluation reserve and designated funds. 

## **Plans for future periods** 

We will enter 2025 with continued rental agreements in place and good relationships in place with those who make repeated use of our facilities for a fee, which will continue to secure us financially in the short to medium term. The addition of the chargeable coffee shop helps us provide a social space for the wider community to make use of every week and within all our meetings where possible. Financially, the cafe covers its costs and is currently staffed purely by volunteers. 

Under the umbrella of the Q York charity, we launched The Forum at Q and this will continue to offer a safe space for open conversation, social interaction, community engagement and spiritual awareness. Already we have seen an increase in our attendees under this format. We will continue to offer in person free services on a regular basis and aim to introduce a free online podcast under the Forum to help reach a wider audience and anyone who is unable to attend in person, thus building an online community alongside our current social media platforms and online substack blog. We will offer midweek community lectures providing educational content around mental well being, culturally relevant issues and self empowerment. 

The charity will continue to host social community activities such as regular walk and talks, social meet ups and regular reflections/mindfulness evenings all offering opportunities to improve physical and mental health, reduce social isolation. We will continue to partner with other charitable agencies in the city to widen the access to this provision. 

We will continue to work closely together in a collaborative, volunteer-led approach. 

## **Reference and Administrative Information:** 

Q York is a Company Limited by Guarantee, (Company No 05971999) and is also registered with the Charity Commission under registration No. 1119326. The Charitable Company has carried out its activities under the style of “Q Church”.  The Charitable Company was incorporated on 19 October 2006 and commenced its activities on 22 May 2007 following the transfer of assets from The Rock Church unincorporated charity (charity number 1052062). 

## **Names of the Directors who are also the Trustees managing the Charitable Company:** 

Michael Charles Fox (Company Secretary) Christopher Inkley Claire Louise Palmer Jennifer Anne Byrne - resigned 31st December 2023 Peter Robin Conde - resigned 3rd July 2023 Graham Alexander Grant - resigned 3rd July 2023 

## **Principal and Registered Office Address:** 

11 Priory Street YORK YO1 6ET Telephone No: 01904 659475     Website: www.qyork.co.uk 

3 



## **Q YORK** 

## **DIRECTORS’ AND TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2024 (CONTINUED)** 

## **Names and addresses of advisors:** 

Accountants: Independent Examiner: Solicitors: Bankers: HPH, Chartered Accountants S B Wearing Ellis-Fermor & Negus Virgin Money 54 Bootham HPH, Chartered Accountants 6 Derby Road 46 Coney Street YORK 54 Bootham Belper YORK YO30 7XZ YORK Derbyshire YO1 9NQ YO30 7XZ DE56 1UU 

## **Structure, Governance and Management** : 

**Governing Document:** Memorandum and Articles of Association of Q York. 

**Director/Trustee Selection Method:** The Trustees are the Directors appointed according to the Articles of Association. 

In the appointing of Directors/Trustees the following criteria were applied: 

- A personal belief and faith in God. 

- Proven faithfulness to the Church and its work. 

- Commitment to promoting the Objects of the Charity. 

- Possession of a skill which would be an asset to the group in accomplishing its purpose (e.g. involvement in management, finance, decision making, trouble shooting, planning, administration). 

- • A willingness to devote oneself to the role of Director/Trustee in an effective manner. 

Upon the occurrence of a vacancy the Charitable Company may by ordinary resolution appoint a person who is willing to act as a Director/Trustee according to the Articles of Association with due regard to maintaining the correct balance of paid and non-paid Directors/Trustees. Selection would be by the above criteria. 

**Policies and procedures for inducting and training Directors and Trustees:** Those appointed as Directors/Trustees will already have a basic knowledge of the operating of the Church. All relevant documentation in respect of the Church/Charitable Company is available to them. They begin to serve immediately within the body of Directors/Trustees. Training is through hands on involvement with the other Directors/Trustees in the outworking of their duties also, by attending training seminars when deemed to be helpful for the outworking of good governance. 

**Organisational structure:** The Senior Leadership Team comprises of the Trustees. Together they are responsible for all spiritual, visionary and ministry decisions. The outworking of these decisions in respect to their fulfilment of the Objects of the Charitable Company is engaged by the Directors/Trustees. They are responsible for all decisions in respect to the use and distribution of the Charitable Company’s funds. They consider ways of generating funds to support the outworking of the Objects. Paid Directors/Trustees are not involved in any process or decision with respect to their remuneration. 

## **Related parties:** None 

**Risk Policy:** The Directors/Trustees actively review the major risks which the Church/Charitable Company faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems will provide sufficient resources in the event of adverse conditions. The Directors/Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks alongside our insurance brokers, PIB Insurance. 

4 



## **Q YORK** 

## **DIRECTORS’ AND TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2024 (CONTINUED)** 

## **Statement of Directors’ and Trustees’ Responsibilities:** 

Company and charity law require the Directors and Trustees to prepare financial statements for the financial year which give a true and fair view of the state of affairs of the Charitable Company at the end of the year and of its financial activities for that year. In preparing those accounts the Directors and Trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- make judgments and estimates that are reasonable and prudent; 

- state whether applicable accounting standards have been followed subject to any material departures disclosed and explained in the accounts; and 

- prepare the financial statements on a going concern basis unless it is inappropriate to assume that the Charitable Company will continue in operation. 

The Directors and Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charitable Company and to enable them to ensure that the financial statements comply with the Companies Act 2006 and applicable charity law. They are also responsible for safeguarding the assets of the Charitable Company by taking reasonable steps for the prevention and detection of fraud or other irregularities. 

## **Exemption** 

This report has been prepared in accordance with the special provisions of the Companies Act 2006 applicable to small companies. 

Signed on behalf of the Directors and Trustees  ...........………....…........................ 

Michael Charles Fox – Company Secretary 

24 December 2024 

5 



## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF Q YORK** 

I report to the charity trustees on my examination of the financial statements of Q York for the year ended 5 April 2024. 

This report is made solely to the Charitable Company’s trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and the Charitable Company’s trustees as a body in accordance with section 154 of the Charities Act 2011. My independent examiner’s work has been undertaken so that I might state to the Charitable Company’s trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charitable Company, the Charitable Company’s members as a body and the Charitable Company’s trustees as a body for my independent examiner’s work, for this report, or for the opinions I have formed. 

## **Responsibilities and basis of report** 

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

Having satisfied myself that the financial statements of the Charitable Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s financial statements as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. 

## **Independent examiner’s statement** 

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 

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

2. the financial statements do not accord with those records; or 

3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or 

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

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. 

Sarah Wearing FCA, DChA HPH, Chartered Accountants 54, Bootham, YORK, YO30 7XZ 

24 December 2024 

6 



## **Q YORK** 

## **STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 5 APRIL 2024** 

|Note<br>**Income and endowments from:**<br>Donations and legacies<br>**2**<br>Charitable activities<br>**3**<br>Other trading activities<br>**4**<br>Investments<br>**5**<br>Other<br>**6**<br>**Expenditure on:**<br>Fundraising expenditure<br>Charitable activities<br>**7**<br>**Total**<br>**Net expenditure**<br>**Transfers between funds**<br>**17**<br>**Reconciliation of funds:**<br>Total funds brought forward<br>**Total funds carried forward**<br>**19**<br>**Net movement in funds**<br>**Total**|Unrestricted<br>Funds<br>£<br>49,289<br>-<br>31,336<br>685<br>1,492|Restricted<br>Funds<br>£<br>2,245<br>-<br>-<br>-<br>-|5 April<br>2024<br>£<br>51,534<br>-<br>31,336<br>685<br>1,492|5 April<br>2023<br>£<br>86,164<br>30<br>9,831<br>177<br>350|
|---|---|---|---|---|
||**82,802**|**2,245**|**85,047**|**96,552**|
||1,131<br>133,469|-<br>3,600|1,131<br>137,069|-<br>133,085|
||**134,600**|**3,600**|**138,200**|**133,085**|
||**(51,798)**<br>**(1,355)**|**(1,355)**<br>**1,355**|**(53,153)**<br>-|**(36,533)**<br>**-**|
||**(53,153)**|**-**|**(53,153)**|**(36,533)**|
||1,042,317|-|1,042,317|1,078,850|
||**989,164**<br>**£**|**-**<br>**£**|**989,164**<br>**£**|**1,042,317**<br>**£**|



The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 

_The notes on pages 11 to 21 form part of these financial statements._ 

7 



## **Q YORK** 

## **BALANCE SHEET AS AT 5 APRIL 2024** 

## _**Company number 05971999**_ 

|**Note**<br>**Fixed assets:**<br>Tangible assets<br>**12**<br>**Current assets:**<br>Debtors<br>**14**<br>Cash at bank and in hand<br>**13**<br>Total current assets<br>**Liabilities:**<br>Creditors: amounts falling due within<br>one year<br>**15**<br>Net current assets<br>Creditors: amounts falling due after more<br>than one year<br>**16**<br>**Total net assets**<br>**The funds of the charity:**<br>Unrestricted<br>- general funds<br>**19**<br>- revaluation reserve<br>**19**<br>- designated<br>**19**<br>Restricted<br>**17**<br>**Total charity funds**<br>Total assets less current liabilities|Unrestricted<br>Funds<br>£<br>1,106,582|Restricted<br>Funds<br>£<br>-|Total<br>5 April 2024<br>£<br>1,106,582|Total<br>5 April 2023<br>£<br>1,137,621|
|---|---|---|---|---|
||3,853<br>3,038|-<br>-|3,853<br>3,038|24,335<br>26,689|
||6,891<br>(31,047)|-<br>-|6,891<br>(31,047)|51,024<br>(23,880)|
||(24,156)|-|(24,156)|27,144|
||1,082,426<br>(93,262)|-<br>-|1,082,426<br>(93,262)|1,164,765<br>(122,448)|
||**£      989,164**|**-**<br>**£**|**£     989,164**|**£   1,042,317**|
||274,591<br>605,150<br>109,423<br>-|-<br>-<br>-<br>-|274,591<br>605,150<br>109,423<br>-|11,325<br>621,350<br>409,642<br>-|
||**£      989,164**|**-**<br>**£**|**£     989,164**|**£   1,042,317**|



_The notes on pages 11 to 21 form part of these financial statements._ 

8 



## **Q YORK** 

## **BALANCE SHEET AS AT 5 APRIL 2024 - (CONTINUED)** 

## _**Company number 05971999**_ 

In the directors' and trustees' opinion the Charitable Company was entitled under section 477 of the Companies Act 2006 ('the Act') to exemption from the audit of its financial statements for the year ended 5 April 2024. No notice from members requiring an audit has been deposited under section 476 of the Act in relation to its financial statements for the financial period. The directors and trustees are responsible for ensuring that the Charitable Company keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the Charitable Company as at the end of each financial period and of its income and its expenditure for each period in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with its requirements, so far as applicable to the Charitable Company. 

The financial statements have been prepared in accordance with the special provisions of the Companies Act 2006 applicable to small companies. 

Approved by the Directors and Trustees on 24 December 2024 and signed on their behalf by: 

Michael Charles Fox - Director and Trustee 

_The notes on pages 11 to 21 form part of these financial statements._ 

9 



## **Q YORK** 

## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 5 APRIL 2024** 

|**Note**<br>**Net cash (used) in operating activities**<br>**22**<br>**Cash flows from investing activities:**<br>Dividends, interest and rents from investments<br>Purchase of property, plant and equipment<br>Proceeds from sale of property, plant and equipment<br>**Net cash provided by investing activities**<br>**Cash flows from financing activities:**<br>Repayments of borrowing<br>**Net cash used in financing activities**<br>**Change in cash and cash equivalents in the reporting**<br>**period**<br>**Cash and cash equivalents at the beginning of the**<br>**reporting period**<br>**Cash and cash equivalents at the end of the reporting**<br>**period**|**2024**<br>**£**<br>**7,208**<br>685<br>-<br>222<br>**907**<br>(31,766)<br>**(31,766)**<br>**(23,651)**<br>**26,689**<br>**£ 3,038**|**2023**<br>**£**<br>**(10,536)**|
|---|---|---|
|||177<br>(1,212)<br>350|
|||**(685)**|
|||(28,284)|
|||**(28,284)**|
|||**(39,505)**<br>**66,194**|
|||**£ 26,689**|



Charity law requires separate administration of the cashflows of endowed and other restricted funds of the Charity. This constraint has not adversely affected cashflows as stated above. 

_The notes on pages 11 to 21 form part of these financial statements_ 

10 



## **Q YORK** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024** 

## **1. ACCOUNTING POLICIES** 

## a) Basis of Preparation 

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) (effective 1 January 2019) - (Charities SORP (FRS 102)), and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. They are drawn up on the historical cost accounting basis, as modified by the revaluation of freehold property. 

Q York meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). The functional currency in the financial statements is £ sterling. 

The Charitable Company is a private company limited by guarantee, incorporated in England. The address of the registered office is: 11 Priory Street, YORK, North Yorkshire, YO1 6ET. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. 

## b) Going Concern 

The Charitable Company depends on its existing bank facilities to meet its day to day working capital requirements. Current forecasts indicate that the Charitable Company expects to be able to operate within these facilities for the foreseeable future. These facilities are renewed annually and are not guaranteed for the period covered by the going concern review. The Charitable Company has a reasonable expectation that the church has adequate resources to continue in operational existence for the foreseeable future. They continue to believe the going concern basis of accounting is appropriate in preparing the financial statements. 

## c) Incoming resources 

## _Incoming resources_ 

- Incoming resources are included in the Statement of Financial Activities (SOFA) when: - the Charitable Company becomes entitled to the resources 

- the Directors/Trustees are virtually certain they will receive the resources 

- the monetary value can be measured with sufficient reliability 

## _Incoming resources with related expenditure_ 

Where incoming resources have related expenditure the incoming resource and related expenditure are reported gross in the SOFA. 

## _Grants and Donations_ 

Grants and donations are only included in the SOFA when the Charitable Company has an unconditional entitlement to the resources. 

## _Tax reclaims on Donations and Gifts_ 

Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate. 

## _Gifts in kind_ 

Gifts in kind are accounted for at a reasonable estimate of their value to the Charitable Company or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed. Gifts in kind for use by the charitable company are included in the SOFA as incoming resources when receivable. 

## _Donated Services and Facilities_ 

These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the Charitable Company is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the Charitable Company of the service or facility received. 

11 



## **Q YORK** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 (CONTINUED)** 

## **1. ACCOUNTING POLICIES (CONTINUED)** 

## _Investment income_ 

Investment income is accounted for when receivable. 

## d) Resources expended 

## _Liability recognition_ 

Liabilities are recognised as soon as there is a legal or constructive obligation committing the Charitable Company to pay out resources. 

## _Grants_ 

Grants are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to grants which remain in the control of the Charitable Company. 

## _Governance costs_ 

Governance costs include costs of the preparation and examination of statutory accounts, the costs of the Directors/Trustees meetings and cost of any legal advice to the Directors/Trustees on governance or constitutional matters. 

## _Operating Leases_ 

Rentals paid under operating leases are charged in the SOFA on a straight line basis over the lease term. 

## e) Assets 

## _Tangible fixed assets_ 

Individual fixed assets are capitalised if they can be used for more than one year and cost at least £150. They are valued at cost or, if gifted, at the value to the Charitable Company on receipt. Freehold property is included at its revalued amount. 

## _Depreciation_ 

Depreciation is calculated at a rate to write off the cost of tangible fixed assets on a straight line basis over their estimated useful lives. The rates applied per annum are as follows: 

Freehold Property 2% Equipment, Fixtures and Fittings 25% 

## f) Pensions 

The Charitable Company pays a total of 6% employer contributions into a variety of pension schemes, a stakeholder type pension scheme which is registered with Clerical Medical, and an auto enrolment scheme through Smart Pensions Limited. 

## g) Funds Structure 

Unrestricted Funds are funds which are available for use or retention at the discretion of the Directors/Trustees, in accordance with the Charitable Company's objects. Restricted funds represent donations for purposes restricted by the wishes of the donor. Details of the restricted funds are contained in note 17. Any shortfall in restricted funds expenditure is transferred from the unrestricted funds. 

## h) Debtors 

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 

## i) Cash at bank and in hand 

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months of less from the date of acquisition or opening of the deposit of similar account. 

12 



## **Q YORK** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 (CONTINUED)** 

## **1. ACCOUNTING POLICIES (CONTINUED)** 

## j) Creditors and provisions 

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 

## k) Financial instruments 

The Church only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 

|||Unrestricted|Restricted|||
|---|---|---|---|---|---|
|||Funds|Funds|5 April 2024|5 April 2023|
|||£|£|£|£|
|**2.**|**DONATIONS AND LEGACIES**|||||
||Donations and Gift Aid|£     49,289|£      2,245|£     51,534|£     86,164|



In 2023 income from donations and legacies amounting to £2,480 related to restricted funds. 

**3. CHARITABLE ACTIVITIES** 

Children & Youth £ - £ - £ - £            30 

In 2023 income from charitable activities amounting to £nil related to restricted funds. 

## **4. OTHER TRADING ACTIVITIES** 

|**OTHER TRADING ACTIVITIES**|||||
|---|---|---|---|---|
|Sundry income<br>Rental income|6,985<br>24,351<br>31,336<br>£|-<br>-<br>£            -|6,985<br>24,351<br>31,336<br>£|9,831<br>-|
|||||9,831<br>£|



In 2023 income from other trading activities amounting to £nil related to restricted funds. 

## **5. INVESTMENT INCOME** 

Bank interest £          685 £            - £          685 £           177 

In 2023 all income from investments related to unrestricted funds. 

## **6. OTHER INCOME** 

|Profit on disposal of fixed assets<br>Other income|222<br>1,270<br>1,492<br>£|-<br>-<br>-<br>£|222<br>1,270<br>1,492<br>£|350<br>-|
|---|---|---|---|---|
|||||350<br>£|



In 2023 all other income related to unrestricted funds. 

13 



## **Q YORK** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 (CONTINUED)** 

## **7. COSTS OF CHARITABLE ACTIVITIES** 

|**COSTS OF CHARITABLE ACTIVITIES**||||||
|---|---|---|---|---|---|
|_Current Year_|5 April|2024||5 April|2023|
||£|||£||
|Mission and charity grants||4,127|||10,213|
|Other direct costs||5,446|||3,005|
|Support costs (note 8)||114,210|||109,030|
|Governance costs (note 9)||13,286|||10,837|
||£|137,069|£||133,085|
|Costs of charitable activities amounting to £2,245 (2023 - £9,925) related to restricted funds.||||||
|_Comparative Year_|5 April|2023||5 April|2022|
||£|||£||
|Mission and charity grants||10,213|||12,357|
|Restricted gifts||-|||1,000|
|Other direct costs||3,005|||1,392|
|Support costs (note 8)||109,030|||174,095|
|Governance costs (note 9)||10,837|||9,008|
||£|133,085|£||197,852|
|Costs of charitable activities amounting to £9,925 (2022 - £12,976) related to restricted funds.||||||
|**SUPPORT COSTS**||||||
|_Current Year_|5 April|2024||5 April|2023|
||£|||£||
|Salaries & related costs||30,651|||39,627|
|Staff training||510|||368|
|Advertising & publicity||324|||293|
|Cleaning & hospitality||8,392|||6,641|
|Rates & insurance||16,467|||4,412|
|Heating & lighting||11,204|||14,860|
|Repairs & equipment||11,656|||7,332|
|TV, telephone & subscriptions||3,967|||4,458|
|Depreciation||31,039|||31,039|
||£|114,210|£||109,030|
|_Comparative Year_|5 April|2023||5 April|2022|
||£|||£||
|Salaries & related costs||39,627|||98,436|
|Staff training||368|||-|
|Advertising & publicity||293|||1,332|
|Cleaning & hospitality||6,641|||5,779|
|Rates & insurance||4,412|||13,665|
|Heating & lighting||14,860|||11,652|
|Repairs & equipment||7,332|||9,148|
|TV, telephone & subscriptions||4,458|||3,347|
|Depreciation||31,039|||30,736|
||£|109,030|£||174,095|



## **8. SUPPORT COSTS** 

14 



## **Q YORK** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 (CONTINUED)** 

## **9. GOVERNANCE COSTS** 

|**GOVERNANCE COSTS**|||||
|---|---|---|---|---|
|Accountancy fees:<br>Bookkeeping and payroll services<br>Statutory accounts production<br>Independent examination<br>Legal and professional fees<br>Loan interest, bank and credit charges|Unrestricted<br>Fund<br>£<br>918<br>1,360<br>1,082<br>885<br>9,041|Restricted<br>Fund<br>£<br>-<br>-<br>-<br>-<br>-|5 April 2024<br>£<br>918<br>1,360<br>1,082<br>885<br>9,041<br>13,286<br>£|5 April 2023<br>£<br>1,161<br>1,426<br>1,166<br>-<br>7,084|
||13,286<br>£|-<br>£||10,837<br>£|



## **10. DIRECTORS' AND TRUSTEES' REMUNERATION, EXPENSES AND RELATED PARTIES** 

No Directors/Trustees were paid a salary and pension for their ministerial work during the year (2023 - None). 

No ex-gratia payments have been made to Directors/Trustees during the year (2023 - None). 

During the year no out of pocket expenses were paid on behalf of Directors/Trustees (2023 - One). No person connected to the Directors/Trustees was reimbursed out of pocket expenses. 

Michael Charles Fox (director and trustee) was an employee of Virgin Money which provides banking services to Q York. He is neither a director of, nor a controlling shareholder in, Virgin Money (Clydesdale Bank Plc) and retired on 30 April 2024. 

During the year a total of £6,540 (2023 - £13,258) was donated to the Charitable Company by the Directors/Trustees. 

There were no other related party transactions. 

## **11. STAFF COSTS AND NUMBERS** 

|**STAFF COSTS AND NUMBERS**|||
|---|---|---|
|Pension contributions<br>Wages and salaries<br>Employer's NIC|5 April 2024<br>£<br>28,500<br>-<br>2,151<br>30,651<br>£|5 April 2023<br>£<br>37,294<br>-<br>2,333|
|||39,627<br>£|



No employee received emoluments in excess of £60,000 (2023 - None). 

The key management personnel of the Charitable Company, comprise the Trustees. The total employee benefits of the key management personnel of the Charitable Company were £Nil (2023 - £Nil). 

The average monthly head count was 1 staff (2023 - 1) and the average monthly number of full-time equivalent employees (including casual and part-time staff) during the year were as follows: 

||5|April|2024|5|April|2023|
|---|---|---|---|---|---|---|
|Charitable activities|||1|||1|



15 



## **Q YORK** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 (CONTINUED)** 

## **12. FIXED ASSETS** 

|Additions<br>Disposals<br>_Cost or valuation_<br>At 6 April 2023<br>At 5 April 2023<br>At 5 April 2024<br>At 5 April 2024<br>At 5 April 2024<br>Charge in year<br>Depreciation on disposals<br>_Depreciation_<br>_Net book value_<br>At 6 April 2023|Freehold<br>Property<br>£<br>1,500,000<br>-<br>-|Office<br>Equipment<br>£<br>8,315<br>-<br>-<br>8,315<br>6,384<br>889<br>-<br>7,273<br>£ 1,042<br>£ 1,931|Fixtures &<br>Fittings<br>£<br>104,640<br>-<br>-<br>104,640<br>104,640<br>-<br>-<br>104,640<br>-<br>£<br>-<br>£|Miscellaneous<br>Equipment<br>£<br>119,961<br>-<br>-<br>119,961<br>119,511<br>150<br>-<br>119,661<br>£ 300<br>£ 450|Total<br>£<br>1,732,916<br>-<br>-|
|---|---|---|---|---|---|
||1,500,000||||1,732,916|
||364,760<br>30,000<br>-||||595,295<br>31,039<br>-|
||394,760||||626,334|
||1,105,240<br>£||||1,106,582<br>£|
||1,135,240<br>£||||1,137,621<br>£|



Freehold Property Revaluation: Nos. 11 and 13 Priory Street, York, were revalued by Kempston-Parkes LLP, Chartered Surveyors, a company external to the Charitable Company, on 5 February 2018. The Directors/Trustees are not aware of any material change in the total open market value of property since the date of last revaluation. The historical cost of the properties included above was £690,000. 

All fixed assets relate to unrestricted funds. 

## **13. CASH AT BANK AND IN HAND** 

|**CASH AT BANK AND IN HAND**|||
|---|---|---|
|Virgin Money deposit account<br>Virgin Money current account<br>Cash in hand<br>All cash and bank balances relate to unrestricted funds.<br> **DEBTORS**<br>Other debtors<br>All debtors relate to unrestricted funds.|5 April 2024<br>£<br>-<br>2,993<br>45<br>3,038<br>£<br>5 April 2024<br>£<br>3,853<br>£|5 April 2023<br>£<br>5,000<br>21,644<br>45|
|||26,689<br>£|
|||5 April 2023<br>£<br>24,335<br>£|
||||



## **14. DEBTORS** 

16 



## **Q YORK** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 (CONTINUED)** 

|||5|April|2024||5 April|2023|
|---|---|---|---|---|---|---|---|
||||£|||£||
|**15. **|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||||||
||Bank loan and overdraft (secured)|||16,485||10,092||
||Bounce back loan|||10,056||10,000||
||Other taxes and social security|||374|||401|
||Other creditors|||1,239|||484|
||Accruals|||2,893|||2,903|
|||£||31,047<br>|£||23,880<br>|
||All creditors: amounts falling due within one year relate to unrestricted funds.|||||||
|**16. **|**CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR**|||||||
||Bank loan (secured)|||77,429|||96,538|
||Bounce back loan|||15,833|||25,910|
|||£||93,262<br>|£|122,448<br>||
||The bank loan and overdraft are secured on 11 and 13 Priory Street, York.||The bank loan||and bounce back|||
||loan are repayable as follows:|||||||
||Within one year|||26,541|||20,092|
||More than one year but not more than two years|||27,925|||20,750|
||More than two years but not more than five years|||65,338|||54,127|
||After more than five years|||-|||47,571|
|||£|119,804<br>||£|142,540<br>||



All creditors: amounts falling due after one year relate to unrestricted funds. 

17 



## **Q YORK** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 (CONTINUED)** 

## **17. RESTRICTED FUNDS** 

|_Current year_<br>James I v 27 Foundation &<br>Orphanage in Goa|**At 6 April**<br>**2023**<br>£<br>-|**Income**<br>£<br>2,245|**Expenditure**<br>£<br>(3,600)|**Transfers**<br>**in/(out)**<br>£<br>1,355|**At 5 April**<br>**2024**<br>£<br>-|
|---|---|---|---|---|---|
||-<br>£|2,245<br>£|(3,600)<br>£|1,355<br>£|-<br>£|



|_Comparative year_<br>Lifezone<br>James I v 27 Foundation &<br>Orphanage in Goa|**At 6 April**<br>**2022**<br>£<br>-<br>-|**Income**<br>£<br>2,480<br>-|**Expenditure**<br>£<br>(9,882)<br>(43)|**Transfers**<br>**in/(out)**<br>£<br>7,402<br>43|**At 5 April**<br>**2023**<br>£<br>-<br>-|
|---|---|---|---|---|---|
||-<br>£|2,480<br>£|(9,925)<br>£|7,445<br>£|-<br>£|



The transfers in/(out) represent the net transfer of unrestricted voluntary income to cover the shortfall of expenditure in support of the above mission and outreach activities. 

James I v 27 Foundation & Orphanage in Goa 

Financial assistance given to an Orphanage in Goa and funds provided to cover the costs of the leaders conferences held for Indian Ministers. 

Lifezone 

Donations made towards the Kids Church. 

18 



## **Q YORK** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 (CONTINUED)** 

## **18. PENSION SCHEME** 

The Charitable Company pays a total of 6% employer contributions into a variety of pension schemes, a stakeholder type pension scheme which is registered with Clerical Medical, and an auto enrolment scheme through Smart Pensions Limited. Contributions of £2,151 (2023 - £2,333) were made during the year and there were outstanding contributions at the balance sheet date of £190 (2023 - £190). 

## **19. MOVEMENT IN FUNDS** 

|**MOVEMENT IN FUNDS**||||||||||
|---|---|---|---|---|---|---|---|---|---|
|||At 6 April|||||Gross|At 5 April||
|||2023||Income||Expenditure|Transfers||2024|
|_Current year_||£||£||£|£||£|
|**Unrestricted funds**||||||||||
|**_General funds_**||||||||||
|General funds||11,325||82,802||(103,561)|284,025||274,591|
|Revaluation reserve||621,350||-||(16,200)|-||605,150|
|**_Designated funds_**||||||||||
|Fixed assets||409,642||-||(14,839)|(285,380)||109,423|
|**Restricted funds**||-||2,245||(3,600)|1,355||-|
||£|1,042,317<br>|£|85,047<br>|£|(138,200)<br>|-<br>£|£|989,164<br>|
|||At 6 April|||||Gross|At 5 April||
|||2022||Income||Expenditure|Transfers||2023|
|_Comparative year_||£||£||£|£||£|
|**Unrestricted funds**||||||||||
|**_General funds_**||||||||||
|General funds||29,222||94,072||(92,121)|(19,848)||11,325|
|Revaluation reserve||637,550||-||(16,200)|-||621,350|
|**_Designated funds_**||||||||||
|Fixed assets||412,078||-||(14,839)|12,403||409,642|
|**Restricted funds**||-||2,480||(9,925)|7,445||-|
||£|1,078,850<br>|£|96,552<br>|£|(133,085)<br>|-<br>£|£|1,042,317<br>|



Designated funds is the net book value of the fixed assets, after taking into account the revaluation reserve and the loans secured on the property. The funds are designated as these assets are needed for the activities of the Charity. 

Transferred from designated funds into general funds is the net book value of a property sold in August 2024 for £650k, less the loan repaid. This asset was no longer not held for continuing use by the charity. 

19 



## **Q YORK** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 (CONTINUED)** 

## **20. LEGAL STATUS** 

The Charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1. 

## **21. RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM** 

|**Net expenditure for the reporting period**<br>**Adjustments for:**<br>Depreciation charges<br>Finance costs<br>(Profit) on the sale of fixed assets<br>Dividends, interest and rents from investments<br>Decrease/(Increase) in debtors<br>Increase/(Decrease) in creditors|5 April 2024<br>£<br>(53,153)<br>31,039<br>9,029<br>(222)<br>(685)<br>20,482<br>718|5 April 2023<br>£<br>(36,533)<br>31,039<br>7,072<br>(350)<br>(177)<br>(9,766)<br>(1,821)|
|---|---|---|
||7,208<br>£|(10,536)<br>£|



## **22. TAXATION** 

As a registered charity, Q York is exempt from the tax on income and gains falling within sections 466 to 493 of the Corporation Tax Act 2010 and section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the company. 

20 



## **Q YORK** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 (CONTINUED)** 

## **24. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES** 

## _**STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 5 APRIL 2023**_ 

|**_Income and endowments from:_**<br>_Donations and legacies_<br>_Charitable activities_<br>_Other trading activities_<br>_Investments_<br>_Other_<br>**_Expenditure on:_**<br>_Charitable activities_<br>**_Total_**<br>**_Net expenditure_**<br>**_Transfers between funds_**<br>**_Reconciliation of funds:_**<br>_Total funds brought forward_<br>**_Total funds carried forward_**<br>**_Net movement in funds_**<br>**_Total_**|_Unrestricted_<br>_Funds_<br>_£_<br>_83,684_<br>_30_<br>_9,831_<br>_177_<br>_350_|_Restricted_<br>_Funds_<br>_£_<br>_2,480_<br>_-_<br>_-_<br>_-_<br>_-_|_5 April_<br>_2023_<br>_£_<br>_86,164_<br>_30_<br>_9,831_<br>_177_<br>_350_|_5 April_<br>_2022_<br>_£_<br>_76,021_<br>_300_<br>_8,457_<br>_399_<br>_10,498_|
|---|---|---|---|---|
||**_94,072_**|**_2,480_**|**_96,552_**|**_95,675_**|
||_123,160_|_9,925_|_133,085_|_197,852_|
||**_123,160_**|**_9,925_**|**_133,085_**|**_197,852_**|
||**_(29,088)_**<br>**_(7,445)_**|**_(7,445)_**<br>**_7,445_**|**_(36,533)_**<br>**_-_**|**_(102,177)_**<br>**_-_**|
||**_(36,533)_**|**_-_**|**_(36,533)_**|**_(102,177)_**|
||_1,078,850_|_-_|_1,078,850_|_1,181,027_|
||**_£ 1,042,317_**|**_-_**<br>**_£_**|**_£ 1,042,317_**|**_£ 1,078,850_**|



21