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← Vision Church Ltd

2024-03-31-accounts

VISION CHURCH LTD

Report and Accounts Year ended 31 March 2024

1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk

VISION CHURCH LTD

COMPANY INFORMATION

FOR THE YEAR ENDED 31 MARCH 2024

Trustees Emil Armintia Ian Nundy Alan Shires (resigned February 2024) John M Walker Company Secretary John M Walker Key Staff Ian Nundy Julie Nundy Governing Document Memorandum and Articles of Association dated 23 April 2007 Company Registration Number 06221857 Charity Registration Number 1120277 Registered Office and 32A Commercial Street Principal Address Morley Leeds LS27 8HL Independent Examiner Ajay Rajani FCIE Stewardship 1 Lamb's Passage London EC1Y 8AB

Bankers

HSBC Bank plc

Contents Page
Company Information 1
Trustees' Annual Report 2-4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Accounts 8-13
Detailed Statement of Financial Activities with Comparatives 14

Page 1

VISION CHURCH LTD

TRUSTEES' ANNUAL REPORT

(INCORPORATING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 MARCH 2024

The trustees, who are the charity's directors for the purposes of company law, have pleasure in submitting their report and the accounts for the year.

Introduction

Vision Church is a vibrant, multi ethnic, multi generational and contemporary church with a vision to see lives transformed locally and globally by the love and power of Jesus. Our passion is to continually invest in multiplying disciples and leaders who can make a difference in every area of Society. In addition, we aim to plant churches and carry out social and community action projects geared to reaching out and helping to transform people and places in a variety of practical ways, whilst also looking to help and bless those in other nations.

Objects of the charity

The charity is a charitable company and is governed by its memorandum and articles of association. The objects of the charity, as set out in the governing document are:

a) the advancement of the Christian faith

b) the relief of persons who are in conditions of need, hardship or distress or who are aged or sick

c) the advancement of education on the basis of Christian principles.

Summary of the charity's main activities and achievements

Introduction

The report below gives an overview of our work during the past year with a view to accomplishing our vision, mission and charitable objectives.

Community Engagement and Outreach

Reaching out to serve, support and help local people in our communities has been a key part of our ministry since our inception as a church. Our initiatives include the following:

a) Food Parcels

Throughout the last 12 months we have continued to reach out and support individuals and families in need with food parcels. In December we were able to supply numerous families with special hampers to brighten up their Christmas. We are grateful to every person who has taken the time to give, visit, serve and support others in this way.

b) Destination 211

We have continued to serve the Destination 211 bus outreach project in Dewsbury, connecting with and supporting many local mums, teenagers and children coming along from the local community.

c) Police Chaplaincy

As part of the local police chaplaincy team we have been able to come alongside both staff and family members who have experienced traumatic and life impacting circumstances, offering a caring and listening ear to those in need

Digital Mission & Ministry

Using a variety of digital technology we have sought to connect, pray for, reach and disciple our church, as well as minister to people in the local community and beyond. In addition to our daily early morning prayer meetings, our weekly digital service is broadcast to people from around the nation and world, as well as to local people who are sick or housebound. We have also continued to lead online small groups that are reaching, discipling and serving people, both nationally and internationally.

In September 2023 we launched ‘Prayer for the City’, a digital missions outreach, and have prayed for hundreds of people in the first six months of this campaign. In addition several people have responded to the gospel and connected with the church community.

Page 2

VISION CHURCH LTD

TRUSTEES' ANNUAL REPORT CONTINUED

Youth, Students and Children

Reaching and discipling children and young people have always been a high priority for us at Vision Church. Through face to face and online gatherings, our heart is to provide opportunities for them to engage and grow in their relationship with God and one another, as well as impart vision for reaching young people outside the church.

This last year we also continued to focus on reaching, connecting and discipling students coming to the various universities in our city. As a result we have had the privilege of welcoming many new students from both the UK and other nations into our church family and serving them in their relationship and journey with God

Training and Discipleship

Utilising zoom and other technology we have been able to help people connect and grow through our ‘Life Class’ training as well as our small groups. Our desire is to continue providing every person with the environment, empowerment and discipleship to grow and thrive in their life and purpose in Christ, both online and in person.

Global Mission and Transformation

As part of our vision for world mission and desire to help those in need we have partnered with churches and projects that are transforming lives and families in different nations of the world.

Closing Appreciation

Finally we would like to close this year end report by expressing our appreciation to everyone in our church family who has gone over and above to love, serve and care for so many people in the community, both near and far. From our frontline workers, to our leaders, Discovery groups and servant teams, we have seen the church continue to adapt, mobilise and rise up to serve in so many different ways during the last year. We are immensely grateful to every single person who has played their part in helping to fulfil the vision God has entrusted to us

We trust this report has given you a window into our progress and achievements during the year ending 2023/24.

In planning the activities the Trustees have applied the guidance on public benefit issued by the Charity Commission.

Structure, Governance and Management

Vision Church (formerly New Horizons Group International) ("the charity") is a charitable company limited by guarantee. The company was established under a memorandum of association on 23 April 2007, which established the objects and powers of the charitable company and is governed by its articles of association. The charity's activities are reviewed and directed by the trustees; responsibility for the day to day running of the charity has been delegated to Ian and Julie Nundy who are the church's spiritual leaders.

Any person, being a member of the church who accepts the Statement of Doctrines of the Church, may be appointed to the trusteeship by the charity's existing trustees. Any new trustee is given an introduction to the work of the charity by other trustees and given a copy of the Charity Commission guidelines CC3a and CC10, together with an explanation of the role of a trustee. The trustees have reviewed the adequacy of the charity's current internal controls and are confident that those controls conform to guidelines issued by the Charity Commission.

Page 3

VISION CHURCH LTD

TRUSTEES' ANNUAL REPORT CONTINUED

Financial review

During the year income increased by £14,856 to £118,120, and expenditure decreased by £20,309 to £123,533. As a result the charity has reported a deficit this year of £5,413 (2023: £40,578) and the charity's net assets decreased by this amount to £269,498. Net assets comprises principally of the charity's property, which has a carrying value of £250,000, and cash of £22,015.

Reserves policy

The trustees have determined that the charity should aim to hold unrestricted cash of no less than £30,000 (which equates to about three months' of budgeted unrestricted expenditure) so that the charity could continue to operate smoothly should income and / or expenditure vary adversely. At the year end the charity held unrestricted cash of £20,150; this is below the target set by the trustees but nonetheless the trustees are satisfied that the charity can continue to operate comfortably with this level of reserves for the time being.

Key risks and uncertainties

The charity is exposed to various risks - be they operational, financial or reputational. The trustees review the charity's activities regularly to identify significant risks and, where possible, they take appropriate measures to mitigate those risks.

Responsibilities of trustees under company law

The trustees are responsible for preparing the trustees' annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing these financial statements, the trustees are required to:

  1. select suitable accounting policies and apply them consistently;

  2. observe the methods and principles in the Charities SORP;

  3. make judgements and estimates that are reasonable and prudent;

  4. state whether the applicable accounting standards have been followed, subject to any material departures

disclosed and explained in the financial statements; and

  1. prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approval

This report, which has been prepared in accordance with the provisions of the Companies Act 2006 relating to small companies, was approved by the trustees and signed on their behalf by:

J M Walker J M Walker (Dec 18, 2024 21:01 GMT)_______ John M Walker

Dec 18, 2024 Date: ________

Page 4

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF

VISION CHURCH LTD ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024 on pages 6 to 14 following, which have been prepared on the basis of the accounting policies set out on pages 8 and 9.

Responsibilities and basis of report

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

Having satisfied myself that the accounts of the 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 accounts 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 Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts 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 accounts 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 accounts to be reached.

Ajay Rajani

Ajay Rajani (Dec 19, 2024 12:16 GMT)

Ajay Rajani FCIE Stewardship 1 Lamb's Passage London EC1Y 8AB

Date: Dec 19, 2024

Page 5

VISION CHURCH LTD

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Charitable activities
Investments
Total income and endowments
EXPENDITURE ON:
Charitable activities
4
Total expenditure
Net income/(expenditure)
Transfers between funds
11
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
11		 Unrestricted
Funds
£
116,644
800
358
117,802
122,504
122,504
(4,702)
-
(4,702)
272,334
267,633		 Restricted
Funds
£
295
-
22
317
1,029
1,029
(712)
-
(712)
2,576
1,865		 Total
Funds
2024
£
116,939
800
381
118,120
123,533
123,533
(5,413)
-
(5,413)
274,910
269,498		 Total
Funds
2023
£
102,675
462
126
103,264
143,842
143,842
(40,578)
-
(40,578)
315,489
274,911

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing operations.

The statement of financial activities also complies with the requirements for an income and expenditure account required by the Companies Act 2006.

The notes on pages 8 to 14 form part of these accounts.

Page 6

VISION CHURCH LTD

BALANCE SHEET

AS AT 31 MARCH 2024

Note
FIXED ASSETS
Tangible assets
6
CURRENT ASSETS
Debtors
7
Cash at bank and in hand
8
CREDITORS: Amounts falling
due within one year
9
Net current assets
TOTAL NET ASSETS
FUND BALANCES
11
Unrestricted Funds
General funds
Designated funds
Restricted Funds		 Unrestricted
Funds
£
250,000
250,000
2,797
20,150
22,948
(5,314)
17,633
267,633
255,420
12,213
267,633
-
267,633		 Restricted
Funds
£
-
-
-
1,865
1,865
-
1,865
1,865
-
-
-
1,865
1,865		 Total
Funds
2024
£
250,000
250,000
2,797
22,015
24,812
(5,314)
19,498
269,498
255,420
12,213
267,633
1,865
269,498		 Total
Funds
2023
£
250,140
250,140
3,867
27,334
31,201
(6,430)
24,771
274,911
258,152
14,183
272,335
2,576
274,911

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006 however, in accordance with Section 145 of the Charities Act 2011, the accounts have been examined by an independent examiner and their report has been included in these financial statements.

The directors (who are the charitable company's trustees for the purposes of charity law) acknowledge their responsibilities for:

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors and were signed on its behalf by:

J M Walker J M Walker (Dec 18, 2024 21:01 GMT) Dec 18, 2024 ----------------------------------------------------------------------------John M Walker Date

Company number: 06221857 Charity number: 1120277

The notes on pages 8 to 14 form part of these accounts.

Page 7

VISION CHURCH LTD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2024

1 Statutory Information

The charity is a charitable company limited by guarantee and is incorporated in the United Kingdom. The company's registered number and registered office address can be found on the Company Information page.

2 Accounting Policies

These financial statements are prepared on a going concern basis, under the historical cost convention.

These financial statements have been prepared in accordance with the "Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102"), with the Companies Act 2006 and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.

The principles adopted in the preparation of the financial statements are set out below.

a) Going concern

The trustees (who are the charitable company's directors for the purposes of company law) have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

b) Income

Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.

Income from donations and legacies includes recoverable gift aid, which is recognised when the related donation is received. Gift aid that has not been recovered by the balance sheet date is included as a debtor.

The charity relies on volunteers to carry out many of its activities. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.

c) Expenditure

Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.

The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.

Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.

d) Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.

Page 8

VISION CHURCH LTD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2024

2 Accounting Policies continued

e) Tangible fixed assets

Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £1,000 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective the following rates of depreciation are charged:

Freehold land Is not depreciated (because it is not consumed by use) Freehold buildings Over 50 years after taking account of the building's residual value Equipment Over 3 to 7 years

In the opinion of the trustees, the residual value of the charity's freehold buildings is very high and any cumulative provision for depreciation is believed to be immaterial.

The carrying values of tangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate that the carrying value may not be recoverable.

f) Pension scheme arrangements

The charity operates defined contribution pension schemes for its employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds.

g) Taxation

The company is a registered charity; it has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.

h) Financial instruments

The charity's financial assets and financial liabilities all qualify as basic financial instruments, as defined by FRS102. Except for finance leases, creditors and debtors are measured at their expected settlement value (normally the amount of cash that the charity expects to pay or receive). The charity recognises liabilities for the principal of those finance leases that remains outstanding at the year end (i.e. the liabilities exclude any interest chargeable on the finance leases in future years).

i) Exemption from preparing a cashflow statement

The charity has taken advantage of an exemption conferred by the Charities SORP and has not prepared a cash flow statement.

j) Critical accounting estimates and areas of judgement

ln preparing financial statements certain judgements, estimates and assumptions have to be made that affect the amounts recognised in the financial statements. The annual depreciation charge for property, plant and equipment is sensitive to changes in the estimates for useful economic life and residual value. These estimates are reassessed annually and, when necessary, adjusted to reflect current circumstances.

3 Donations and legacies

ations and legacies
Donations of cash and similar
Gift aid recoverable		 2024
£
96,045
20,894
116,939		 2023
£
85,364
17,311
102,675

Page 9

VISION CHURCH LTD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2024

4 Charitable expenditure

a
Costs incurred directly on specific activities
Staff costs
Ministry costs
Mission support
Training and conferences
Communications
Venue hire
Travel and van hire expenses
Grants payable (note 4c)
b
Costs incurred on support & administration
Governance costs
Independent examiner's fee for preparing and examining the accounts
Building refurbishment and maintenance
Depreciation of fixed assets
Utilities
Insurance
Telephone and website
Subscriptions
Administrative expenses
Total expenditure
c
Grants payable
Grants for UK and overseas mission
G12 UK (King's Church International)
Other grants individually less than £1,000
Grants for the relief of poverty
Grants individually less than £1,000
The comparatives for the previous year are as follows:
Grants for UK and overseas mission
G12 UK (King's Church International)
Other grants individually less than £1,000
Grants for the relief of poverty
Grants individually less than £1,000		 Institutions
£
2,200
1,275
120
3,595
Institutions
£
2,400
1,887
120
4,407		 2024
£
59,293
5,387
1,675
9,231
11,279
15,703
3,795
3,908
110,270
2,100
734
140
2,556
1,361
2,093
2,991
1,289
13,263
123,533
Individuals
£
-
312
-
-
Individuals
£
-
-
-
-		 2023
£
61,368
9,927
765
12,113
10,011
8,173
5,994
4,407
112,758
2,160
17,176
465
4,171
1,479
2,025
3,106
502
31,085
143,842
2024
£
2,200
1,588
120
3,908
2023
£
2,400
1,887
-
120
4,407

Page 10

VISION CHURCH LTD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2024

5 Staff costs and key management

The average monthly number of employees during the year was 3 (2023: 3.8). Most of the charity's activities are carried out by volunteers.

No staff received salaries at a rate of more than £60,000 per annum.

The charity's key management comprise the trustees and the key staff named on the Company Information page. Total employment benefits payable to key management for the year were as follows:

Employer
Wages &
pension
salaries
contributions
Trustee
Ian Nundy
36,800
917
Key management connected to trustees:
Julie Nundy (Ian's wife)
15,925
291
following amounts were payable in the previous year:
Employer
Wages &
pension
salaries
contributions
Trustee
Ian Nundy
36,800
917
Key management connected to trustees:
Julie Nundy (Ian's wife)
16,425
291		 2024
£
37,717
16,216
53,933
2023
£
37,717
16,716
54,433

The following amounts were payable in the previous year:

Ian and Julie Nundy served as church leaders and received the above payments for serving in that capacity, not for serving as trustees; these payments are permitted by the charity's governing document.

6 Tangible fixed assets

Tangible fixed assets
Cost
At 1 April 2023
Additions
At 31 March 2024
Accumulated depreciation
At 1 April 2023
Charge for the year
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023
Debtors
Gift aid recoverable
Prepayments and other debtors		 Land &
Buildings
£
250,000
-
250,000
-
-
-
250,000
250,000		 Furniture
equipment
instruments
£
32,374
-
32,374
32,234
140
32,374
-
140
2024
£
2,797
-
2,797		 Total
2024
£
282,374
-
282,374
32,234
140
32,374
250,000
250,140
2023
£
2,553
1,314
3,867

7 Debtors

Page 11

VISION CHURCH LTD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2024

8 Cash at Bank and in Hand

h at Bank and in Hand
Cash at bank
Payment processing accounts (such as PayPal and Stripe)
itors: liabilities falling due within one year
Trade creditors
Taxation and social security
Other creditors
Accruals		 2024
£
22,015
-
22,015
2024
£
1,792
893
470
2,160
5,314		 2023
£
26,849
485
27,334
2023
£
1,785
816
470
3,360
6,430

9 Creditors: liabilities falling due within one year

10 Pension commitments

During the year employer’s pension contributions totalling £1,208 (2023: £1,208) were payable to defined contribution personal pension schemes. Pension contributions totalling £470 (2023: £470) were owed at the balance sheet date.

11 Funds

During the year the movements in the charity's funds were as follows:

Restricted funds
Youth work
Mission gifts
Social action
Unrestricted funds
Designated project fund
General Unrestricted Funds
Aggregate of funds		 Opening
balance
2024
£
1,927
91
559
2,576
14,183
258,152
272,335
274,911		 Incoming
resources
2024
£
118
2
198
317
18,331
99,471
117,802
118,120		 Outgoing
resources
2024
£
(1,003)
-
(26)
(1,029)
(20,301)
(102,203)
(122,504)
(123,533)		 Transfers
in the year
2024
£
-
-
-
-
-
-
-
-		 Closing
balance
2024
£
1,042
93
731
1,865
12,213
255,420
267,633
269,498

Analysis of net assets by fund

The assets and liabilities of the various funds were as follows:

Tangible fixed assets
Debtors
Cash at bank and in hand
Creditors falling due within one year		 General
Designated
funds
funds
£
£
250,000
-
2,797
-
7,937
12,213
(5,314)
-
255,420
12,213
Unrestricted Funds		 Restricted
funds
£
-
-
1,865
-
1,865		 2024
£
250,000
2,797
22,015
(5,314)
269,498

Page 12

VISION CHURCH LTD

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

11 Funds continued

In the previous year the movements in the charity's funds were as follows:

Restricted funds
Building Fund
Youth work
Mission gifts
Social action
Unrestricted funds
Designated project fund
General Unrestricted Funds
Aggregate of funds		 Opening
balance
2023
£
5,057
2,559
91
395
8,102
28,758
278,630
307,387
315,490		 Incoming
resources
2023
£
4
147
88
164
403
12,918
89,943
102,861
103,264		 Outgoing
resources
2023
£
(5,061)
(780)
-
-
(5,841)
(27,493)
(110,508)
(138,001)
(143,842)		 Transfers
in the year
2023
£
-
-
(88)
-
(88)
-
88
88
-		 Closing
balance
2023
£
-
1,927
91
559
2,576
14,183
258,152
272,335
274,911

Analysis of net assets by fund

In the previous year, the assets and liabilities of the various funds were as follows:

Tangible fixed assets
Debtors
Cash at bank and in hand
Creditors falling due within one year		 General
Designated
funds
funds
£
£
250,140
-
3,867
-
10,575
14,183
(6,430)
-
258,152
14,183
Unrestricted Funds		 Restricted
funds
£
-

-

2,576
-

2,576		 2023
£
250,140
3,867
27,334
(6,430)
274,911

Restricted funds

The Building fund was created from donations received to help fund the future development of the charity's property. The Youth Work fund was created from donations received to help fund the charity's work with young people.

The Mission Gifts fund was created from donations received to help support mission outreach, including support for ministries in Ukraine.

The Social action fund was created from donations received to help those suffering from financial hardship or in crisis.

Designated funds

The Designated Project fund represents monies set aside by the trustees to help fund various projects. This expenditure is not committed and, should the need arise, the balance on the fund could be used to meet the charity's general operating costs.

12 Transactions with related parties

During the year the charity:

c) paid employment benefits totalling £493 (2023: £nil) to the son of a trustee (Ian Nundy) for financial administration services.

No expenses (2023: £nil) were paid to or for the trustees (except for the reimbursement of expenses incurred when acting as agent for the charity or incurred when undertaking employment duties).

Except as disclosed in note 5 'Staff costs and key management', there have been no other transactions with related parties during the year.

13 Members

Each member of the company commits to contribute if the charity is wound up an amount of £1.

Page 13

VISION CHURCH LTD

DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES

FOR THE YEAR ENDED 31 MARCH 2024

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Charitable activities
Investments
Total income and endowments
EXPENDITURE ON:
Charitable activities:
4
Total Expenditure
Net income/(expenditure)
Transfers between funds
11
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
11		 General
Designated
2024
2024
£
£
98,555
18,089
800
-
116
242
99,471
18,331
102,203
20,301
102,203
20,301
(2,731)
(1,970)
-
-

(2,731)
(1,970)
258,152
14,183
255,420
12,213
Unrestricted funds		 Restricted
2024
£
295
-
22
317
1,029
1,029
(712)
-
(712)
2,576
1,865		 Total
2024
£
116,939
800
381
118,120
123,533
123,533
(5,413)
-
(5,413)
274,911
269,498		 General
Designated
2023
2023
£
£
89,367
12,918
462
-

115
-

89,943
12,918
110,508
27,493
110,508
27,493
(20,565)
(14,575)
88
-

(20,477)
(14,575)
278,630
28,758
258,152
14,183
Unrestricted funds		 Restricted
2023
£
391
-
12
403
5,841
5,841
(5,438)
(88)
(5,526)
8,102
2,576		 Total
2023
£
102,675
462
126
103,264
143,842
143,842
(40,578)
-
(40,578)
315,489
274,911

Page 14