OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← St Luke's Church

2024-03-31-accounts

Charity registration number 1119572

Company registration number 05977613 (England and Wales)

ST LUKE'S CHURCH

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

ST LUKE'S CHURCH

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees J McMahon
S Sullivan
S Brown
D Hardy
M Sullivan
Charity number 1119572
Company number 05977613
Registered office St Lukes Church
Carlton Road
Pontefract
West Yorkshire
United Kingdom
WF9 2QQ
Independent examiner Sedulo London Limited
Office 605 Albert House
256 - 260 Old Street
London
United Kingdom
EC1V 9DD

ST LUKE'S CHURCH

CONTENTS

Page
Trustees' report 1 - 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Statement of cash flows 8
Notes to the financial statements 9 - 23

ST LUKE'S CHURCH

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their annual report and financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Companies Act 2006 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)".

Objectives and activities

The objectives of the charity as set out in the Memorandum of Association are:

(i) the advancement of the Christian faith in accordance with the Statement of Faith of The Assemblies of God in such ways and in such parts of the United Kingdom or the world as approved by the trustees from time to time;

(ii) 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 approved by the trustees from time to time; and

(iii) to advance education in such ways and in such parts of the United Kingdom or the world as the directors from time to time may think fit.

These objectives reflect the aims of the charity to promote the Christian faith and follow that faith by providing community facilities and local and overseas ministration.

The charities main activities, as described below, focus on the provision of services to the local community and advancement of the Christian faith within and beyond that community.

Public benefit

With reference to the duty in section 17(5) of the Charities Act 2011, the trustees confirm that they have referred to the Charity Commission's guidance on public benefit when reviewing the charity's aims and objectives and in planning its current and future activities. The achievements and activities outlined in this report demonstrate the public benefit arising from the charity's activities.

Significant activities

In accordance with our objectives the principal activities of the charitable company during the period were the provision of Christian ministration to the users of St Luke's Church, together with community centre facilities, pre-school services and day care services.

At St Luke’s we provide daycare nursery services for children between the ages of 3 months to 5 years and pre-school services to children between the ages of 2 to 5 years, providing high quality childcare and learning in a safe environment. We are inspected by OFSTED and required to provide a broad and balanced curriculum, based on the governments Early Learning Goals. The nursery and pre-school enjoys and excellent reputation within the local community and is very well supported by parents.

We continue to operate the café, which is open to the community, housed during the period in our church building on Barnsley Road, South Elmsall, through which we also run our ‘Let's Be Friends’ befriending service for lonely and isolated members of our community. We also continue to support the One-by-One Orphanage in Kenya through church donations in the café.

ST LUKE'S CHURCH

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Volunteers

St Luke's employs many suitably qualified staff, but we also continue to benefit from the time and effort donated by many volunteers who enable us to operate all our various activities, in particular with regard to the Café and Let's Be Friends service. All volunteers are subject to vetting under DBS disclosure and follow a detailed induction process on their roles and responsibilities, to ensure that our standards of service delivery are maintained.

As trustees we are grateful for the many volunteers who serve across our various activities. As a result a significant part of our costs are met from volunteered time. These have not been quantified in financial terms and have not been included in the statement of financial activities.

Achievements and performance

During the year further refurbishment works have continued to take place across all of our premises.

The nursery & pre-school has successfully; following our merger into one site; continued to enrol more children and has operated at or near to capacity throughout the year. We are pleased to report that the care provided by the nursery & preschool ensures that many enquiries are received. The nursery & pre-school setting was judged to be ‘Good’ by OFSTED following their recent inspection.

Our café remains open to provide and environment for local adults to meet during the day, and the church continues to open its facilities to local groups to build on its community ethos.

Our ‘Let’s Be Friends’ befriending service for lonely and isolated members of our community is also held at the café and is staffed by volunteers is continuing to provide activities, days out and an opportunity for people to meet new friends.

Financial review

The charity's income for the year totalled £848,470 (2023: £814,426) against expenditure of £1,038,026 (2023: £936,294) leading to a deficit of £189,556 (2023: deficit of £121,868).

Included in expenditure is the impairment of the charity's nursery premises at Barnsley Road in expectation of its sale during 2024-25 which led to a loss of £110,004. After the year end, a contract has been signed in regard to the property sale and the sale is subject to planning permission.

While a significant loss has been recognised on impairment, the charity's decision to consolidate all its nursery activities at its main community base on Carlton Road will nonetheless enable the charity to release cash funds that will be utilised to settle loans and replenish working capital.

Going concern

The charity had a negative net current asset position at the balance sheet date (liability of £34,446) and the trustees are aware that the availability of cash funds currently poses the biggest ongoing risk to the charity's going concern status.

However, in order to mitigate these concerns, in the year ended 31 March 2023 the trustees made the decision to close the charity's nursery premises at Barnsley Road, and consolidate all nursery activities at the charity's main community base on Carlton Road, which will increase operational efficiency.

The transfer of nursery staff and pupils to the refurbished site occurred in mid 2023 once all necessary consultations were completed and conversion works completed and signed off. The refurbishment and conversion works have been initially funded from existing cash reserves and a bank loan but as noted above the Barnsley Road Nursery site will be shortly be sold with proceeds utilised to settle that borrowing and significantly replenish cash reserves and improve its current asset position.

The trustees are therefore satisfied with the financial position of the charity and its ability to meet its ongoing commitments, after taking into account the financial risks and uncertainties outlined in this report.

ST LUKE'S CHURCH

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Reserves policy

The trustees' policy aim is to achieve free reserves, which are unrestricted funds less designated funds, at a level sufficient to cover charitable and governance costs for a period of six months in order to ensure the future stability of the charity. The charity has yet to achieve this level of reserves but the trustees note that reserves are due to be substantially increased by the expected sale of property in the year 2024-25.

Principal funding sources

The charity's principal sources of income are fees charged for the nursery and funding from Wakefield Metropolitan District Council. Fundraising and voluntary income provide further funding for the charity.

Major risks

As trustees we recognise the potential uncertainty over future funding levels and nursery occupancy and costs, particularly in light of inflation and its effect on wages, energy, food and consumable prices, which are considered to be the principal financial risks facing us as a charity. We continue to monitor them regularly, making adjustments to our activities and plans as required.

Plans for future periods

The 2024/25 period will see the charity finalise the consolidation of its nursery activities at the Carlton Road site and the trustees expect that this, and the sale of the Barnsley Road property - as outlined above - will support the charity's ongoing work to become financially sustainable in the long term.

The charity will also continue is other core activities, including running its café and the ‘Let’s Be Friends’ befriending service.

Structure, governance and management

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

The trustees, who are also the directors for the purpose of company law, and who served during the year were:

J McMahon

S Sullivan S Brown R Matthews (Resigned 15 July 2024) D Hardy M Sullivan M Thrower (Appointed 16 April 2023 and resigned 7 March 2024)

Recruitment and appointment of trustees

Trustees comprise the senior minister and other ministers of the church and others nominated by the senior minister and ratified by the trustees. Trustees are not required to retire by rotation.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Organisational structure

The trustees are responsible for all strategic and financial decisions of the charity and meet on a regular basis throughout the year to set strategic goals, budgets and procedures.

The trustees are also responsible for overall operation and management of the charity. Some day to day decisions are delegated to senior staff in the Nursery who report to the Trustees.

ST LUKE'S CHURCH

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Induction and training of trustees

All trustees sign a declaration that they are not barred from standing and are vetted through DBS disclosure.

All new trustees are issued with an induction pack and invited to attend an induction meeting where they are given an overview of the work of the charity and their duties and responsibilities are clarified.

The trustees' report was approved by the Board of Trustees.

..............................

M Sullivan

Trustee

23/12/2024 Date: .............................................

ST LUKE'S CHURCH

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF ST LUKE'S CHURCH

I report to the trustees on my examination of the financial statements of St Luke's Church (the charity) for the year ended 31 March 2024.

Responsibilities and basis of report

As the trustees of the charity (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 charity 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 the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

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 that in any material respect:

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.

Daniel Wilson FCCA

Sedulo London Limited

Office 605 Albert House 256 - 260 Old Street London EC1V 9DD United Kingdom

Dated: .........................23 December 2024

ST LUKE'S CHURCH

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted
funds
2024
Notes
£
Income and endowments from:
Donations and legacies
2
437,728
Charitable activities
3
405,636
Other trading activities
4
3,448
Investments
5
504
Other income
6
797
Total income
848,113
Expenditure on:
Raising funds
7
874
Charitable activities
Nursery
8
763,071
Church
8
256,031
Other
8
17,547
Total expenditure
1,037,523
Net expenditure
(189,410)
Transfers between funds
(42)
Net movement in funds
10
(189,452)
Reconciliation of funds:
Fund balances at 1 April 2023
1,256,813
Fund balances at 31 March 2024
1,067,361		 Restricted
funds
2024
£
357
-
-
-
-
357
-
-
-
503
503
(146)
42
(104)
2,208
2,104		 Total
Unrestricted
funds
2024
2023
£
£
438,085
456,591
405,636
349,754
3,448
5,074
504
273
797
2,000
848,470
813,692
874
4,137
763,071
725,823
256,031
189,620
18,050
15,992
1,038,026
935,572
(189,556)
(121,880)
-
-
(189,556)
(121,880)
1,259,021
1,378,693
1,069,465
1,256,813		 Restricted
funds
2023
£
734
-
-
-
-
734
-
-
-
722
722
12
-
12
2,196
2,208		 Total
2023
£
457,325
349,754
5,074
273
2,000
814,426
4,137
725,823
189,620
16,714
936,294
(121,868)
-
(121,868)
1,380,889
1,259,021

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

ST LUKE'S CHURCH

BALANCE SHEET

AS AT 31 MARCH 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 14 1,267,174 1,409,443
Current assets
Debtors 16 35,563 28,297
Cash at bank and in hand 27,804 42,849
63,367 71,146
Creditors: amounts falling due within one year 17 (97,813) (49,560)
Net current (liabilities)/assets (34,446) 21,586
Total assets less current liabilities 1,232,728 1,431,029
Creditors: amounts falling due after more than
one year 18 (163,263) (172,008)
Net assets 1,069,465 1,259,021
The funds of the charity
Restricted funds 21 2,104 2,208
Unrestricted funds 1,067,361 1,256,813
1,069,465 1,259,021

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 March 2024.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on .........................23/12/2024

.............................. M Sullivan

Trustee

Company registration number 05977613 (England and Wales)

ST LUKE'S CHURCH

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £ £ £ £
Cash flows from operating activities
Cash generated from/(absorbed by) operations 26 19,932 (20,781)
Investing activities
Purchase of tangible fixed assets (27,350) (76,195)
Proceeds from disposal of tangible fixed assets 890 2,000
Investment income received 504 273
Net cash used in investing activities (25,956) (73,922)
Financing activities
Proceeds from new bank loans - 50,000
Repayment of bank loans (9,021) (7,099)
Net cash (used in)/generated from financing
activities (9,021) 42,901
Net decrease in cash and cash equivalents (15,045) (51,802)
Cash and cash equivalents at beginning of year 42,849 94,651
Cash and cash equivalents at end of year 27,804 42,849

ST LUKE'S CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Charity information

St Luke's Church is a private company limited by guarantee incorporated in England and Wales. The registered office is St Lukes Church, Carlton Road, Pontefract, West Yorkshire, WF9 2QQ, United Kingdom.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies , Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

The charity had a negative net current asset position at the balance sheet date (liability of £34,446) and the trustees are aware that the availability of cash funds currently poses the biggest ongoing risk to the charity's going concern status.

However, in order to mitigate these concerns, in the year ended 31 March 2023 the trustees made the decision to close the charity's nursery premises at Barnsley Road, and consolidate all nursery activities at the charity's main community base on Carlton Road, which will increase operational efficiency.

The transfer of nursery staff and pupils to the refurbished site occurred in mid 2023 once all necessary consultations were completed and conversion works completed and signed off. The refurbishment and conversion works have been initially funded from existing cash reserves and a bank loan but as noted above the Barnsley Road Nursery site will be shortly be sold with proceeds utilised to settle that borrowing and significantly replenish cash reserves and improve its current asset position.

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

ST LUKE'S CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

Nursery fees

Income relating to fees for attendance at the Charity's nursery is recognised by the Charity when the relevant nursery sessions have occurred and there is entitlement to the funds. Any fees billed to nursery clients in the period of these accounts but relating to sessions after the balance sheet date have been deferred and are included in creditors.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Raising funds

Costs of generating funds are those costs incurred in attracting voluntary income and include the costs associated with fundraising activities.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings 10% on cost and 2% on cost Plant and equipment 25% on reducing balance Fixtures and fittings 25% on reducing balance Computers 25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

Expenditure on small items of equipment which are routinely replaced are written off to repairs and not capitalised.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

ST LUKE'S CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

ST LUKE'S CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

2 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Donations
10,494
-
Gift aid
33,001
-
Grants
394,233
-
Missions
-
357
437,728
357
Grants receivable for core activities
WMDC education funding 3
year olds
261,505
-
WMDC education funding 2
year olds
95,374
-
One-to-one
37,354
-
Government grants
-
-
394,233
-		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
10,494
8,710
-
33,001
46,859
-
394,233
401,022
-
357
-
734
438,085
456,591
734
261,505
227,616
-
95,374
127,848
-
37,354
44,058
-
-
1,500
-
394,233
401,022
-		 Total
2023
£
8,710
46,859
401,022
734
457,325
227,616
127,848
44,058
1,500
401,022

WMDC education funding 3 year olds

An annual education award from Wakefield Metropolitan District Council (WMDC) for the core funding expenditure of the nursery. This is payable in three-term periods based on the numbers and eligibility of the children.

WMDC education funding 2 year olds

An annual education award from Wakefield Metropolitan District Council (WMDC) for the core funding expenditure of the nursery, following the extension of the age profile of the nursery to include two year old children. This is payable in three-term periods based on the numbers and eligibility of the children.

One-to-One

One to One funding is an award from Wakefield Metropolitan District Council (WMDC) towards the cost of staffing to assist children with additional needs.

ST LUKE'S CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

3 Income from charitable activities

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Nursery
Nursery fees 389,967 336,961
Café
Sales income 8,289 8,454
Let's Be Friends
Contributions 7,380 4,339
405,636 349,754
4 Income from other trading activities
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Fundraising events 2,044 3,715
Rents received 1,404 1,359
Other trading activities 3,448 5,074
5 Income from investments
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest receivable 504 273

ST LUKE'S CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

6 Other income

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Net gain on disposal of tangible fixed assets 797 2,000
Expenditure on raising funds
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Fundraising
Seeking donations, grants and legacies 874 4,137

7 Expenditure on raising funds

ST LUKE'S CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

8 Expenditure on charitable activities

Direct costs
Staff costs
Depreciation and impairment
Premises costs
Insurance
Advertising
Telephone, postage & stationery
Consumables & equipment
Ministry
Donations
Food & refreshments
HSA
Licenses
Subscriptions
Training
Missions
Bad debts
Mortgage & loan interest
Share of support and governance costs (see note 9)
Governance		 Nursery
2024
£
648,039
3,994
43,250
8,606
-
10,551
8,209
-
484
22,346
-
2,389
2,609
1,523
-
8,167
-
760,167
2,904
763,071		 Church
2024
£
35,393
163,979
8,188
-
545
1,337
5,698
732
757
44
360
638
5,174
-
-
-
15,760
238,605
17,426
256,031		 Other
2024
£
-
1,553
5,757
-
-
1,252
607
-
1,156
6,853
-
-
-
-
457
-
-
17,635
415
18,050		 Total
2024
£
683,432
169,526
57,195
8,606
545
13,140
14,514
732
2,397
29,243
360
3,027
7,783
1,523
457
8,167
15,760
1,016,407
20,745
1,037,152		 Nursery
2023
£
593,602
3,524
55,777
5,515
11
10,264
15,862
-
235
20,897
-
119
3,631
1,616
-
7,728
-
718,781
7,042
725,823		 Church
2023
£
75,397
66,400
11,930
-
1,715
2,308
11,674
199
778
-
377
940
6,001
416
-
-
9,646
187,781
1,839
189,620		 Other
2023
£
-
1,779
6,982
-
-
1,122
24
-
-
5,919
-
-
50
-
676
-
-
16,552
162
16,714		 Total
2023
£
668,999
71,703
74,689
5,515
1,726
13,694
27,560
199
1,013
26,816
377
1,059
9,682
2,032
676
7,728
9,646
923,114
9,043
932,157

ST LUKE'S CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Expenditure on charitable activities
Analysis by fund
Unrestricted funds
Restricted funds		 763,071
-
763,071		 256,031
-
256,031		 17,547
503
18,050		 1,036,649
503
1,037,152		 725,823
-
725,823		 189,620
-
189,620		 (Continued)
15,992
931,435
722
722
16,714
932,157		 (Continued)
15,992
931,435
722
722
16,714
932,157
932,157

8 Expenditure on charitable activities

ST LUKE'S CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

9 Support costs allocated to activities

Governance costs
Analysed between:
Nursery
Church
Other
Governance costs comprise:
Independent Examiner's fee
Accountancy
Legal and professional
Finance charges
10
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial statements
Depreciation of owned tangible fixed assets
Impairment of owned tangible fixed assets
Profit on disposal of tangible fixed assets		 2024
£
20,745
2,904
17,426
415
20,745
2024
£
650
5,230
13,616
1,249
20,745
2024
£
650
59,522
110,004
(797)		 2023
£
9,043
7,042
1,839
162
9,043
2023
£
650
1,792
5,635
966
9,043
2023
£
650
71,703
-
(2,000)

11 Trustees

Remuneration was made to Rev M Sullivan of £29,107 (2023: £29,734) and Mrs J McMahon of £15,248 (2023: £12,379) for services as minister/nursery manager and administrator respectively. In addition, job related accommodation and related utility costs are provided to the Rev M Sullivan in his capacity as Minister to St Luke's Church. The aggregate amount paid is disclosed as trustee salaries in note 12.

No remuneration is paid to trustees in respect of their activities as trustees.

ST LUKE'S CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

12 Employees

The average monthly number of employees during the year was:

Charitable activities
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2024
Number
50
2024
£
648,046
26,448
8,938
683,432		 2023
Number
54
2023
£
636,218
24,818
7,963
668,999

There were no employees whose annual remuneration was more than £60,000.

13 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

14 Tangible fixed assets

Freehold land
and buildings
£
Cost
At 1 April 2023
1,820,308
Additions
17,652
Disposals
-
At 31 March 2024
1,837,960
Depreciation and impairment
At 1 April 2023
482,921
Depreciation charged in the year
28,448
Impairment losses
110,004
Eliminated in respect of disposals
-
At 31 March 2024
621,373
Carrying amount
At 31 March 2024
1,216,587
At 31 March 2023
1,337,387		 Plant and
equipment
Fixtures and
fittings
£
£
53,208
130,162
-
6,375
(4,073)
(928)
49,135
135,609
47,638
112,216
1,377
5,162
-
-
(4,012)
(896)
45,003
116,482
4,132
19,127
5,570
17,946		 Computers
£
246,381
3,323
-
249,704
197,841
24,535
-
-
222,376
27,328
48,540		 Total
£
2,250,059
27,350
(5,001)
2,272,408
840,616
59,522
110,004
(4,908)
1,005,234
1,267,174
1,409,443

ST LUKE'S CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

14 Tangible fixed assets

(Continued)

More information on the impairment arising in the year is given in note 15.

15 Impairments

Following the balance sheet date a contract for the sale of one of the charity's freehold properties was completed on 30 July 2024, subject to planning permission. Therefore the date of actual sale is still unknown. The active market value of the property per the contract is £250,000 and consequently the asset, which had a carrying value of £360,004 at 1 April 2023, has been impaired accordingly. The impairment losses as recognised in the statement of financial activities are:

In respect of:
Freehold property
16
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
17
Creditors: amounts falling due within one year
Notes
Bank loans
19
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
18
Creditors: amounts falling due after more than one year
Notes
Bank loans
19		 2024
£
110,004
2024
£
33,497
2,066
35,563
2024
£
10,651
2,270
7,552
54,491
22,849
97,813
2024
£
163,263		 2023
£
-
2023
£
25,484
2,813
28,297
2023
£
10,927
3,318
13,257
3,854
18,204
49,560
2023
£
172,008

ST LUKE'S CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

19
Loans and overdrafts
Bank loans
Payable within one year
Payable after one year
Amounts included above which fall due after five years:
Payable by instalments		 2024
£
173,914
10,651
163,263
101,032		 2023
£
182,935
10,927
172,008
118,078

Long-term loans include a mortgage loan secured by a fixed charge over certain of the charity's freehold properties. The total secured borrowings at the balance sheet date were £130,332 (2023: £134,263)

20 Retirement benefit schemes
2024 2023
Defined contribution schemes £ £
Charge to profit or loss in respect of defined contribution schemes 8,938 7,963

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

21 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 April 2023 Incoming Resources Transfers At 31 March
resources expended 2024
£ £ £ £ £
Missions 58 357 (457) 42 -
Community Garden 2,150 - (46) - 2,104
2,208 357 (503) 42 2,104

ST LUKE'S CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

21
Restricted funds
Previous year:
At 1
Missions
Community Garden		 April 2022
£
-
2,196
2,196		 Incoming
resources
£
734
-
734		 Resources
expended
£
(676)
(46)
722		 (Continued)
Transfers
At 31 March
2023
£
£
-
58
-
2,150
-
2,208

The Missions fund represents monies raised to fund missionary activities including the One-by-One Orphanage in Kenya.

The Community Garden fund represents the book value of community garden fixed assets partly funded by restricted grants.

22 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1
Designated - Freehold Property
General funds
Previous year:
At 1
Deisgnated - Freehold Property
Designated - The Shed (Youth
Centre)
General funds		 April 2023
£
1,200,974
55,839
1,256,813
April 2022
£
1,178,368
1,087
199,238
1,378,693		 Incoming
resources
Resources
expended
£
£
-
(39,069)
848,113
(998,454)
848,113
(1,037,523)
Incoming
resources
Resources
expended
£
£
-
(43,123)
-
(96)
813,692
(892,353)
813,692
935,572		 Transfers
At 31 March
2024
£
£
(77,753)
1,084,152
77,711
(16,791)
(42)
1,067,361
Transfers
At 31 March
2023
£
£
65,729
1,200,974
(991)
-
(64,738)
55,839
-
1,256,813

The designated fund for freehold properties represents the book value of the properties from which the charity carries out its activities, net of related mortgage borrowing. Transfers to this fund from the general fund represent the net change in the book value of the Charity's properties in the year (including any impairment losses), net of related mortgage borrowing.

ST LUKE'S CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

23 Analysis of net assets between funds

Unrestricted
funds
2024
£
At 31 March 2024:
Tangible assets
1,265,070
Current assets/(liabilities)
(34,446)
Long term liabilities
(163,263)
1,067,361
Unrestricted
funds
2023
£
At 31 March 2023:
Tangible assets
1,407,293
Current assets/(liabilities)
21,528
Long term liabilities
(172,008)
1,256,813		 Restricted
funds
2024
£
2,104
-
-
2,104
Restricted
funds
2023
£
2,150
58
-
2,208		 Total
2024
£
1,267,174
(34,446)
(163,263)
1,069,465
Total
2023
£
1,409,443
21,586
(172,008)
1,259,021

24 Related party transactions

In the year, the charity received £50,000 in respect of an interest-free loan from a church member who is also a relative of a staff member.

Repayment is due within 5 working days of receipt of funds from the sale of the charity's property at Barnsley Road. There is a reasonable expectation that this sale will be completed within 12 months of the balance sheet date so this loan has been included in Current Liabilities as an Other Creditor. The amount due at the balance sheet date was £50,000.

There were no other disclosable related party transactions during the year other than employee related remuneration as disclosed at note 11.

25 Limited By Guarantee

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members in liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation. At the balance sheet date there were 6 (2023:6) guaranteeing members.

ST LUKE'S CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

26 Cash generated from operations 2024 2023
£ £
Deficit for the year (189,556) (121,868)
Adjustments for:
Investment income recognised in statement of financial activities (504) (273)
Gain on disposal of tangible fixed assets (797) (2,000)
Depreciation and impairment of tangible fixed assets 169,526 71,703
Movements in working capital:
(Increase)/decrease in debtors (7,266) 32,782
Increase/(decrease) in creditors 48,529 (1,125)
Cash generated from/(absorbed by) operations 19,932 (20,781)
27 Analysis of changes in net (debt)/funds
At 1 April 2023 Cash flows At 31 March 2024
£ £ £
Cash at bank and in hand 42,849 (15,045) 27,804
Loans falling due within one year (10,927) 276 (10,651)
Loans falling due after more than one year (172,008) 8,745 (163,263)
(140,086) (6,024) (146,110)