Company Registration number 06101946 Charity Registration number 1120286 EMMANUEL CHURCH DURHAM EMMANUEL CHURCH DURHAM (a Company limited by guarantee without Share Capital) ANNUAL REPORT AND FINANCIAL STATEMENTS 31 March 2025 Stephenson Coates Audit Limited Chartered Accountants West 2, Asama Court Newcastle Business Park Newcastle upon Tyne NE4 7YD
EMMANUEL CHURCH DURHAM (a Company limited by guarantee without Share Capital) CONTENTS Page Report of the directors Independent examiner's report Statement of financial activities Balance shcct Cash flow statement 10 Notes to the financial statements 11- 18
EMMANUEL CHURCH DURHAM (a Company limited by guarantee without Share Capital) REPORT OF THE DIRECTORS The directors present their report and the financial statements for the year ended 31 March 2025. Reference and administrative details Company number: 06101946 Charity number: 1120286 Principal address: The Durham Centre Belmont Industrial Estate Durham DHI ITN Independent examiner: John Oswald BA FCA Stephenson Coates Audit Limited Chartered Accountants West 2, Asama Court Newcastle Business Park Newcastle upon Tyn¢, NE4 7YD Bankers: CAF Bank 25 Kings Hill Avenue Kings Hill West Malling KenL MEI 9 4JQ Barclays Bank PLC Leiccstcr LE87 2BB Solicitors: Muckles LLP Time Central 32 Gallowgate Newcastle upon Tyne NE14BF Directors The following directors of the charitable company (who are its trustees for the purposes of charity law) served during the year and up to the date of approval of this report.. GABell I J Portwine J E Booth WRByng Executive Chairn]an and Senioi Elder Executive Director and Elder Non-cxccutive and Treasurer Non-executive lay member Page I
EMmAN[L CHURCH DURHAM (a Company limited by guarantee without Share Capital) REPORT OF THE DIRECTORS (continued) Structureg governance and management Governing document Emmanuel Church Durham is a Company limited by guarantee, governed by its Memorandum and Articles of Association dated 13 February 2007. The charitable company was incorporated in order to provide a distinct legal entity to carry out the activities of Emmanuel Church Durham which since 1991 had been undertaken through a charitable trust. The company was registered with the Charity Commission on 26 July 2007. On l December 2007 th¢ cntirc assets, liabilities and undertakings of the Emmanuel Church Durham charitable trust were transferred to the charitable company. There are currently three members, each of whom agree to contribute £1 in the event of the charitable company winding up. Appointment and retirement of directors Directors are required to sign a confirmation that they adhcre to thc articles of faith contained within the company's Memorandum and Articles of Association and that they understand their obligations as diicctors. Directors serve for a fixed term of two years and are eligible for reappointment. Directors, induetion and training The Charity Commission website and publications are used to keep the directors up to date with developments in the charitable sector. The necessity for formal training sessions for individual directors is reviewed each year. Organisation The charitable company operates primarily in the County Durham are4 with links with churches and Christian organisations both in the UK and internationally. Church membership is voluntary and free. The charitable company is overseen by a board of directors. which consists of the two of th¢ five leaders - Elders - of Emmanuel Church and, currently. two lay members. The Elders of th¢ Church are responsible for the day-to- day running of the charitable company, including the direction of the Church and the pastoral car¢ of the membership. The lay members include the Treasurer and other persons operating in a non-executive capacity. The board of directors meets at least quart¢rly, to review the finances, risk management, legal issues and other matters affecting the charitabl¢ company. A separate remuneration sub-committee opcrates consisting of the non- ex¢cutive directors who do not receive payments from the charitable company to review the financial provision for the two full-time executive directors. In setting our objectives and planning our activities, the directors have regard to the Charity Commission's public benefit guidance when exercising any powers or duties to which the guidance is relevant. Page 2
EMMANUEL CHURCH DURHAM (a Company limited by guarantee without Share Capital) REPORT OF THE DIRECTORS (continued) Risk management The board of directors considers the major risks to which the charitable company is exposed and identifies the appropriate mitigation. To this end the charity has taken out employer's liability, public liability and buildings insurance. A strict child protection policy is implemented. all voluntary helpers who work with children are subject to criminal records bureau checks and must comply with detailed guidelines for the care of children. In order to ensure the safety of the Church members and general public a team of stewards operate during Sunday meetings. A fire evacuation plan has been drawn up. A system of financial control exists to prevent the loss of the charity's assets through fraud and mismanagement. Financial rcports are made at least quarterly to the Board. Our reserves policy is reviewed annually. Objectives, activities and achievements The objectives of the chaiitablc company are:_ a) The advancement of the Christian Faith. b) Th¢ relief of persons who are in a condition of need or hardship. c) The provision of instruction in the Christian Faith. The vision of the Church is - To be a growing charismaticfantily church with a world vision. The Church congregation meets on a Sunday at The Emmanuel Centre in Durham City. During University term, attendance is about 220 adults, with about 40 children. The Sunday morning acts as a "shop window" for the other activities of the Church, which take place during the week. As a diverse Church, we cater for people's needs in many ways. principally by having smaller mid-w¢¢k groups. During the year, we strengthcned the senior leadership team with the appointment of a new elder. The activities of Emmanuel Church extend far beyond our regular Sunday morning meetings. The measurement of the success of our activities by the use of financial performance indicators is not wholly appropriate for a charity with these much wider objectives. The Church employs two full-time and one part-time children's and youth workers to oversee and develop the children's and youth work both in the Church and the local community. The mid-week provision for our groups uses a detached modcl and has grown during the year. The youth attended NewDay camp in Norfolk, and we also hosted a regional youth & adult gathering in March - Together 24. Work with University students has continued as they meet at the HUB, a student and 20's Sunday evening meeting based in a city centre location. A recent change of venue has catalysed new groThth and given a better setting. There has also been more intentionality in blending the student community with the local one by having mixed mid-week Emmanuel Communities. This has created a great community feel for this group, and we have also seen a significant increase in diversity. We employ one full-time person to support and develop this work. We arc now settled into our new building The Emmanuel Centre. Unfortunately, we were unable to achieve any financial redress regarding a design fault in the heating system. The new building offers more space and great quality PA & AV provision. During the ycar many activities have been hosted there outside of the Sunday morning. During the summer, volunteers helped to improve the foyer and toilets. Connectlons with the community have continued to be strengthened with our Make Lunch initiative. detached youth work, and supporting the Christian Unions of local schools. Our annual Christmas FunDay was able to go up a gear this year, as we used both venues to meet th¢ increased demand. Page 3
EMMANUEL CItURCH DURHAM (a Company limited by guarantee without Share Capital) REPORT OF THE DIRECTORS (continued) Financial review We continue to be very grateful for the strength of our voluntary income, both regular giving and giving for specific purposes. Trading at our subsidiary, The Durham Centre Limited, continued at a good level. Our cash flow in the year was strong. we continue to repay our bank loans and cash holdings increased. We have a high (non-cash) depreciation charge in excess of £1 00,000, arising mainly on our buildings. this accounting charge is a major factor in us reporting a deficit for the year on unrestricted funds. Investment policy As the guaranteed unrestricted funds are minimal, there is little opportunity for investment. The directors have considered the most appropriate policy for invcsting cash resources and have decided that bank deposits meet their requirements of a reasonable rate of return, without significant capital risk, and with prdictable accessibility to the funds. We review this policy regularly. Reserves policy It remains the directors, policy to maintain free reserves of bctwecn six to twelve months fixed committed expenditure. Free reserves at 31 March 2025 were £255,950 (2024.. £242,369). The directors are satisfIed that this provides a reasonable level of reserves to hold for our ongoing activities, including trading activities at The Durham Centrc, and for our development commitments. Plans for future periods We continue to be motivated by our vision statement of being "A growing charismatic family church with a world vision" We also anticipatc that our growing relationship with Regions Beyond will lead to more opportunities to serve nations around the world. We have also started connecting more strongly to RB leaders in thc UK who are assisting us in developing our future vision. Raising funds to be able to develop the second phas¢ of TEC which will give a foyer, toilets, kitchen and ffleeting rooms will be ongoing. Page 4
EMMANUEL CHURCH DURHAM (a Company limited by guarantee without Share Capital) REPORT OF THE DIRECTORS (continued) Statement of the directors, responsibilities in relation to the financial statements The directors are responsible for preparing the Directors, 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 directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure of the charitable company for that period. In preparing these financial statemcnts, the directors are required to.. select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP. make judgements and estimates that are reasonable and prudent; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The directors are responsible for keeping accounting records which 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 reasonabl¢ steps for the prevention and detection of fraud and other irregulariti¢s. This report has been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. Approved by the directors on 14 December 2025 and signed on their behalf by: GABell Chair Page 5
EMMANUEL CHURCH DURHAM (a Company limited by guarantee without Share Capital) INDEPENDENT EXAmER's REPORT TO THE DIRECTORS ON THE UNAUDITED FINANCIAL STATEMENTS OF EMMANUEL CItURCH DURHAM I report to the charity trustees on my examination of the accounts of the charitable company for the year ended 31 March 2025, which are set out on pages 7 to 18. Responsibilities dnd basis of reporl As the charity's trustees of the company (and its directors for the purposes of company law) you are responsible for thc prcparation 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 rcspect 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 reporl I confirni that I am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Walcs. I have completed my ¢xamination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: l ) 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 accounting records. or 3) the accounts do not comply with the accounting requircmcnts of section 396 of the 2006 Act other than any requirement that th¢ 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 th¢ Statement of Recommended practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicablc 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 to enable a proper understanding of the accounts to be Icached. John Oswald BA FCA StephensoD Coates Audit Limited Chartered Accountants West 2, Asama Court Newcastle Business Park Newcastle upon Tyne NE4 7YD 14 December 2025 Page 6
EiiifiIANUEL CHURCH DURHAM (a Company limited by guarantee without Share Capital) STATEMENT OF FINANCIAL ACTIVITIES (including income and expenditure account) FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Restricted funds funds Total 2025 Total 2024 Note INCOME FROM: Giving 464,835 1,341 466,176 435,368 Charitable activities Bible weeks, weekends away and events 8,514 275 8,789 3,052 Other trading activities The Durham Centre - covenanted donation 16 9,500 9,500 40,000 Investments 2,118 2,118 1,542 Total 484,967 1,616 486,583 479,962 EXPENDITURE ON; Charitable activities 532.808 2,284 535,092 529,820 Total 532,808 2,284 535,092 529,820 NET (EXPEI¥DITURE)IINCOME (47,841) (668) (48,509) (49,858) Gross transfers between funds NET MOVEMENT IN FUI¥DS (47.841) (668) (48,509) (49,858) Total funds brought forward 1,648,451 3,335 1,651,786 1,701,644 Total funds carried forward 14115 1,600,610 2,667 1,603,277 1,651,789 The charitable company has no recogniscd gains or losses other than the results for thc period as set out above. All of the activities of the charitable company are classed as continuing. The notes on pages I I to 18 fonn part of these financial statements. Page 7
EMMANUEL CHURCH DURHAM (a Company limited by guarantee without Share Capital) BALANCE SHEET AT 31 MARCH 2025 2025 2024 Note Fixed assets Tangible assets Investments 2,107,888 2,195,373 2,107,895 2,195,380 Current assets Debtors Cash and bank and in hand 10 li 96,667 179 333 131,256 E38 158 276,000 269,4L4 Creditors: amounts falling due within one year 12 Net current assets 230 952 222 596 Total assets less current liabilities 2,338,847 2,417,976 Creditors: amounts falling after one year 13 (735,570) (766,190) Net assets 1,603,277 1,651,786 Funds Unrestricted Restricted 14115 14115 1,600,610 2,667 1,648,451 3,335 Total funds 1,603,277 1,651,786 The Balance Sheet continues on the following page. Page 8
EMMAIWEL CHURCH DURHAM (a Company limited by guarantee without Share Capital) BALANCE SHEET (continued) Directors, statements required by the Companies Act 2006 for the year ended 31 March 2025 In approving these financial statements as directors of the company we hereby confirm: (a) that for the year statcd above the company was entitled to the exemption conferred by section 477 of the Companies Act 2006. (b) that no notice has been deposited at the registered office of the company pursuant to section 476 of the Companies Act 2006 requesting that an audit be conducted for the year endcd 31 March 2025. (c) that we acknowledge our responsibilities for- ( l ) ensuring that the company keeps adequate accounting records which comply with section 3 86 of the Companies Act 2006, and (2) preparing financial statements which give a true and fair view of the state of affairs of the charitable company at the end of the financial year and of its profit or loss for the year then ended in accordance with the requirements of sections 394 and 395, and which otherwise con]ply with the provisions of the Companies Act r¢lating to financial statemcnts, so far as applicable to the charitable company. The financial statements have been prepared in accordance with th¢ provisions applicable to companies subject to the small companies, regime. The financial statements were approved and authorised for issue by the directors on 14 December 2025: G.A. Bell J. Booth l.J. Portwine W. Byng Company registration no. 06101946 The notes on pages I I to 18 forni part of these financial statements. Page 9
EMMANUEL CHURCH DURHAM (a company limited by guarantee without share capital) CASH FLOW STATEMENT YEAR ENDED 31]hIARCH 2025 2025 2024 Reconciliation of net income to net cash flows from operating activities Net income for year Investment income Depreciation Loss on disposal of fixed assets Movement in debtors (48,509) (2,118) 104,321 (49,858 (1,542) 93,460 34,589 6,656 Movement in creditors 6,327 7,112 Net cash inflow from operating activities 81,956 41,604 Cash flows from investing activities Purchases of tangible fixed assets (16,836) 2,118 (48,827) Investment income Net cash flows from investing activities (14,718) (47,285) Cash flows from financing activities Repayments of bank loan Additional bank loans received (26,063) (25,522) Net cash flow from financing activities (26,063) (25,522) Iyet increasel(decrea5e) in cash and Cash equivalents 41,175 (31,203) Cash and cash equivalents at start of year 138,158 169,361 Cash and cash equivalents at end of year 179,333 138,158 The reconciliation of net debt arising in the year is set out in note 17. Page 10
EMMAIYUEL CHURCH DURHAM (a Company limited by guarantee without Share Capital) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 l. Accounting policies Basis of preparation of financial statements The financial statements of the charitable company have been prepared linder the historical cost convention and in accordance with the 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), the Companies Act 2006 and United Kingdom Generally Accepted Accounting Practice applicable to smaller entities. The charitable company constitutes a public benefit entity as defined by FRSIO2. The charitable company has taken the option under section 398 of the Companies Act 2006 and the Charities Act 2011 (Group Accounts) Regulations 2015 not to prepare consolidated financial statements. The financial accounts are prepared in Sterling {£) which is the functional currency of the charitable company. Going concern The directors of the charitable company are satisfied that there are no material uncertainties concerning the charitable company's ability to continue as a going con¢¢rn for a period of at least 12 months from the date of approval of the financial statements. Accordingly, thc financial stat¢ments continue to be prepared on the going concern basis. Fund accounting Unrestricted funds are those available for use at the discretion of the directors in furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted funds arc those that are to be used in accordance with the sp¢cific restrictions imposed by donors or which have been raised by the charity for particular purposes. Designated funds are eannarked by thc directors for particular purposes. Income Giving - Collections are recognised when received by or on behalf of the Church. Planned giving under Gift Aid is recognised only when received. Income tax recoverable on Gift Aid donations is iecognised when the income is recognised. Grants and Icgacies ar¢ accounted for as soon as the Church is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the Church is certain. Covenanted donations from The Durhatn Centre are recognised on an accruals basis. Investment income- Interest entitlements are accounted for as they accrue. Grants Government Grants that compensate the charitable company for expenses incurred are recognised in the statement of financial affairs on a systematic basis in the same period in which the expenses are incurred. Expenditure Charitable aclivities The cost of charitable activities represents the cost of undertaking the charity's objectivcs. All expenditure is accounted for on an accruals basis. Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settleinent and the amount of the obligation can be measured reliably. Value added tax is not recoverable by the charitable company and as such it is included in the relevant costs in the Statement of Financial Activities. Pagell
EIIIMANUEL CHURCH DURHAM (a Company limited by guarantee without Share Capital) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (continued) Tangible fixed assets and depreciation Tangible fIxed assets are initially recorded at cost and are subsequently stated at cost less any accumulated depreciation and impaim]ent losses. Depreciation is calculated so as to write off the cost of an asseL less its estimated residual value, over the useful economic life of that asset as follows: Fixtures, fittings and equipment Freehold property Leasehold property 25 % pcr annum reducing balance over 20 years over the term of the lease Impairnient of fixed assets Properties, fixtures, fittings and equipment are reviewed for impairment if events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. If there is an indication of possible impairn]ent, the recoverable amount of any affected asset is estimated and compared against its carrying amount. Where thc estimated recoverable amount is lower, an impairn]ent loss is recognised immcdiatcly in thc Statement of Financial Activities. Debtors and creditors due within one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses from impairment are recognised in expenditure. Concessionary loans received The charity initially recognises and measures concessionary loans at the amount received. The carrying amount is adjusted in subsequent years to reflect repaymcnts and any accrued interest. 1.10 Operating leases Rentals payable under operating Icases are charged to the Statement of Financial Activities on a straight- line basis over the term of the Icase. 1.1 l Defined contribution plans The charitable company operates a defined contribution pension scheme for its staff. The scheme and its assets are held by independent managers. The pension cost charge in th¢ fInancial statements represents contributions due from the charity for the year. 1.12 Voluntary assistance Time is expended on the charity's activitics and govemance which is donated free of charge. It is impractical to quantify th¢ value of the time given, and accordingly it is neither recorded as donated income nor as an expense in the financial statements. Page 12
EMMANUEL CHURCH DURHAM (a Company limited by guarantee without Share Capital) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EIYDED 31 MARCH 2025 (continued Income from giving Unrestricted funds Restricted funds Total 2025 Total 2024 Building fund Tithes Offerings and gifts Gift aid recoverable 941 941 309,434 81,150 74,651 3,405 292,476 68,589 70,898 309,434 80,985 74,416 165 235 464,835 1,341 466,176 435,368 Investment income Interest on cash deposits 2,118 2,118 1,542 2,118 2,118 1,542 Charitable activities Gifts (below) Global reach Ministry fees and cxp¢ns¢s (note 6) Activities Cxpcnditure Administration, including Computer costs Insurance Rates Utilities Bank charges D¢preciation Repairs and maintenance Legal and professional Indepcndcnt cxaminer's fees Loan interest Building project costs 27,270 4,348 109,346 147,731 29,483 3,269 3,272 14,657 2,365 104,321 15,358 4.150 2,785 62,149 2,304 27,270 4,348 109,346 148,735 29,483 3,269 3,272 14,657 2,469 104,321 15,358 4,150 2.785 62,149 3,480 35,736 109,991 127,722 15,977 3.256 3,522 19,394 2,280 93,460 5,908 5.011 2,580 62,934 42.049 1,004 104 1,176 532,808 2,284 535,092 529.820 Gifts comprise: 2025 2024 India giving Regions Beyond UK (note 6) Ministry Needy Other 1,945 12,100 10,495 1,950 780 3,250 13,700 16,168 442 2,176 27,270 35,736 Page 13
EMMANUEL CHURCH DtlllHAM (a Company limited by guarantee without Share Capital) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued) Staff costs Staff costs were as follows.. Total 2025 Total 2024 Salaries and wages Social security costs Pension costs 136,426 7,012 120,450 5,509 147,665 129,005 No employee received emoluments above £60,000 pa. in the year. The avcrage number of staff employed by the charity, including directors, during the year was 8 (2024.. 7). Directors, remuneration, related party transactions and key management personnel Two of the directors are engaged in Ministry and in accordance with the charitable company's constitution, Ministy fccs and salaries were paid to them during the year. Ministy fees, salaries and expenses for the y¢ar were.. GABell I J Portwine Ministry fees Ministry salaries Wife's support Expenses 39,244 46,183 6,968 3,860 3,666 8,858 I J Portwine is also a director of Regions Beyond UK (note 4). Key managemcnt personnel are considered to comprise the directors and elders. Net income for the year Net income is stated after charging: Total 2025 Total 2024 Depreciation Independent examiner's fees 104,321 2,785 93,460 2,580 Page 14
EMMANUEL CHURCH DURHAM (a Company limited by guarantee without Share Capital) NOTES TO THE FANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued) Tangible fixed assets Freehold property Leasehold property Fixtures & fittings Total Cost At l April 2024 Additions Disposals 2,715,853 16,562 249,014 231,543 274 3,196,410 16,836 At 31 March 2025 2,732,415 249,014 231,817 3,213,246 Depreciation At l April 2024 Charge for the year Elimination on disposal 827,805 82,826 16,602 2,767 156,630 18,728 1,001,037 104,321 At 31 March 2025 910,631 19,369 175,358 1,105,358 Net book amount At 31 March 2025 1,821,784 229,645 56,459 2,107,888 At 31 March 2024 1,888,048 232,412 74,913 2,195,373 All asset5 are held to further the main objects of the charity. Investments The charitable company owns all of the seven issu¢d shares of The Durham Centre Limited, a company registered in England. th¢ company provides a range of flexible, modern, well-resourced meeting solutions. Further details of the subsidiary undertaking's results for the year are outlined in note 16. 10. Debtors 2025 2024 Accounts receivable Gift aid re¢ov¢rable Other debtors Prepayments and accrued income Amount owed by subsidiary undertaking 71.360 3,698 5,887 68,247 4,709 7,665 96,667 131,256 Page 15
EMMANUEL CHURCH DURHAM (a Company limited by guarantee without Share Capital) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (conlinued) 11. Cash at bank and in hand 2025 2024 Bank deposit accounts Bank current accounts Cash in hand 1,641 177,273 419 1,631 136,108 419 179,333 138,158 12. Creditors: amounts falling due Ivithin one year Bank loans (secured) Trade creditors Other taxes and social security costs Accruals and deferred income Other creditors 27.665 3,308 3,259 9,781 23,108 12,596 2,297 6,877 45,048 46,818 13. Creditors: amounts falling due after more than one year Bank loans (secured) Other creditors 735,570 766,190 735,570 766,190 The main bank loan is fully secured on the freehold and leasehold properties. It is repayable by instalments expiring in 2041. The amount duc at 31 March 2025 is analys¢d as follows.. Within onc year between one and two years between three and five years aftcr mor¢ than five years 19,605 19,605 58,817 640,205 The charitable company took out a Gov¢rnm¢nt backed bounc¢ back loan of £50,000 in 2021. which is repayable in equal instalments over 10 years. Page 16
EMMANUEL CHURCH DURHAM (a Company limited by guarantee without Share Capital) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IVIARCH 2025 (continued) 14. Fund movements Balance atl April 2023 Incoming Outgoing Transfers resources resources Balance at31 March 2024 Unrestricted General 1,648,451 484,967 (532,808) 1,600,610 Restricted Building fund Children's work Beyond Ourselves 1,176 165 275 (1,176) (165) 943 1,651,786 486,583 (535,092) 1,603,277 Balance atl April 2023 Incoming Outgoing Transfers resources resources Balance at31 March 2024 Unrestricted Gcncral 1,700,505 472,490 (524,544) 1,648,451 Restricted Building fund Children's work Beyond Ourselves 4,255 165 (4,255) (165) 856 1,701,644 479.962 (529,820) 1,651,786 The Gcncral reserve represents the free funds of the charity which are not designated for particular purposes. The Building fund is restricted to the development of the Durham site. The Children's work fund is restricted to work with children in the Church and the local community. Beyond Ourselves is a fund which is restricted for use in home and overseas missionary and relief work. This includes relief to individuals with debt management issues. Page 17
EMIANuEL CHURCH DURHAM (a Company limited by guarantee without Share Capital) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued) 15. Analysis of net assets Fixed assets Net current assets Creditors due over one year Total 2024 Unrestricted funds General 2,107,895 228,285 (735,570) 1,600,610 Restricted funds Beyond Ourselves 2,107,895 230,952 (735,570) 1,603,277 16. Subsidiary undertaking The Durham Centre Limited traded during the year providing a range of flexibl¢, modern, w¢ll-r¢sourced meeting solutions. Trading continued to be strong in the year and a net profit of £9,31 O arose. £9,500 has been paid to Einmanuel Church Durham by way of deed of covenant. 17. Reconciliation of net debt 31 March 2024 Cash flows Non cash 31 March 2025 movements Cash and cash equivalents 138,158 41,175 179,333 Bank loans due within one year -23,108 26,063 -30.620 -27,665 Bank loans due over one year -766,190 30.620 -735,570 Net debt -651,140 67,238 -583,902 Page 18