Compony Number: 6461016 (England and Woles) Charrty Number.. 1123123 (England ond Wales) Edge Church International Trustees, Report and Financial Statements Year ended 31 December 2023 Audited Edge Church Inlernalionol Trustee5' Report ond Financial Stotemenls For the Year Ended 31 December 2023 Contents Page No. Reference ond Administrative Detail5................................ ............ ... Tru5tees' Report.........-...... .....................................................-.-...................................-................... .... Reporl ol the Independent Audilor lo the Twslees.......................................................................... Stolemenl of Financial Activitie5. 12 Bolonce Sheel..... .............................................._-_....-.................. ....... . Slalemenl of Cash Flows.... 15 Notes lo the Financiol Stotements....-.........-...-.................................................................................16 Edge Church Inlernolionol Tru51ees' Report and Financial Slalements Foi Ihe Yeor Ended 31 December 2023 Reference and Administrolive Details ol the Chority. ils Trustees and Advi5efS Name Edge Church Intemolional I'The Church'l Charily Regislrotion Number 1123123 Compony Regi5Fro*ion Numbei 6461016 Principol OfFice ol the Chority & Regislered Office ol Ihe Company Edge Church Inlernotional 1160 Pork Avenue Aztrec Wesl &u5iness Park Almondsbury Btislol B532 4TF TrL•SteeslDwectors ol Ihe Compony Gionatan Fontanor05a IRe%gned I Sepl 20231 Anthony Webster Matthew Somer5 Ruth Dovies Matthew Swjnbu￿e (Appointed 25 Sept 20231 Senior Monagement Team Andtew Shepherd - Postorol Kim Tovey- Operations Bonker5 HSBC Bank 40 High Street Portisheod Brislol B520 6EN Solicitors Geldards LLP Iijw Firm Number I Pride Ploce Pride Paik Derby DE24 8QR Independenl Auditor Dunkiey's. Chartefed Accountants ond Slolvtory Avdilor5 Woodlonds Gronge Woodlands Lone Brodley Stoke Bristol BS32 4JY Edge Church Internalionol Truslee5' Report ond Finoncial Stotemenls For the Yeor Ended 31 Oecembet 2023 Trustees. Report (including Director5, Report) The Trustees present their report lor the year ended 31 December 2023. The Trustees shown below have held olftce during Ihe whole period trom l Jonuary l)23 to the dale ol Ihis report. Anthony Webster Matthew Somers Ruth Dovies The following Trustees hove been oppoinled during the year. Matthew Swnburne loppointed 25 Sept 20231 The lollowng Trustees hove completed thew oppoinlmenl during the year. Gionatan Fontanar05a (resigned I Sept 20231 Piincipal aims ond objectives The principal aims and objectives ol Ihe Church. os sel out in the MemoTondum ond Arlicles ol Associalion (daled 31 December 2CD7 ond revised 21 Oclober 20191 is lo odvonce the Christian faith. to rdieve sickness and financiol hordship, Io E￿OrnOte ond lo preserve good heollh ond to advance educolion. The Mis￿On ol Edge Church is to "Know Christ. Be Ihe Church ond Serve our Community with o me5s0ge of hope. Iwth and love" The strategy to achieve these objectives is to toke the twth of the messoge of Jesus Christ and the teaching ol the Christian foilh ond communicote them in woys relevant lo the cultvre of today. When plonning the activifies ol the Church Ihe InJslees hove given due considerolion to the Charity Commi5sion'5 published guidonce on public benefit requirements. In porticulor, worship services. children's ond youth Fxograms ore held for people living in the locol ond wider community. Poslorol cofe is K¥ovided for rneMbe￿ ol the chLrch together wlh the local community. SfructUTe. goveinance ond rnanogement Edge Church Internalional is a company limited by guarontee and a registered chorily. The chority 15 affiliated wth Edge Church Inlernalional Limited IECILI based in Adeloide, Australia. The ECIL boaid provides leadership ond vision lor the chority. Day-lo-doy monogemenl 15 vested in Ihe leodership teom led by the interim Compvs Poslor. Andrew Shepherd ond the Operolions Lead Kim Tovey. Edge Church Inlernotionol Trvslee5' Report and Finonciol Slalement5 the Year Ended 31 December 2023 Tnjslees, Report (including Direclor5' Report) (continued) The trustee5 hcTve delegated aspects of decision making lo the leadership team. whilsl rnoinlaining contr(A over major strategic ond financiol deciyon5. The trustee5 who served during the yeor ond up lo the dole of thi5 trustee rep￿1 ore listed on page 3. Recivllment and tralnlng ollwslees Trustees must demon51rale Strong ethical values and o commilmenl to the church. Polenlictl new Iru51ee5 are nominoted for appointment by a current truslee and then a vote is held ol all trustee5. If the current trustees agree the new trustee is aptxooched and oppoinled. Tru5tee5 are updated on developments regularfy. Achlevements and performance During 2023 the church hos continved to gow wtlh mony new familie5 joining the church. Allendonce during 2023 has continved lo incfeose. The Operolions Leod hos conl¥nved lo locus on buil(fing on operation5 team made up ol volunteer5 to activole the vision ocross the compvs. G3 CKcle515moll groups focus5ing on relottonship ond di5cipleshipl hove continued lo be o focus Oreo ol the church with approximalely 5(k60% 01 oclive congiegalion being o port ol a G3 Circle. 6 new G3 Circles have been estoblished in the lolter port 012023. Key octivilies during Ihe yeor included G3 Circles on A Proyer Filled ￿le in homes. me55oge nigh15. RED night. 50cioI activities. ond o Chapel Project in prepawation lor building work in 2024. A key locus ol our kids leom hos been building the leom leoders lo facilitate Ihe growth in lomilies joining the chsJrch and occe5sing Ihe kid5 progrom on Sundays. The woik done in the church and community w05 mode possible through the dedication and commilmenl ol mony individuals who offer IheiT time and energy to serve. As more volunteers were empowered, this core group ol people conlinued lo grow in 2023. Work has continued in portneTship wlh Transform Carnbodia - conlribuling towords the Upkeep ol the existing houses sponsored IcurrentW 41 wnich provide education. food and support lor ovei 6(X) children as well as 5pon50ring Ihe Iran5foim Cambodio nolionol conference. The close collaboration with the Edge Church Inteinalionol Ltd leam in Australio hos been o signilicont loctor in Ihe conlinued growlh and Iruilfulness of the UK campus. There is o grealer shofed undersfonding ond unity of pvrpose becouse of opportunilies created lo work more closely together. Income hos not been included in the financial slolemenls lo reflect the donoted seNces ol volunteer lime due to valualion difficulties. Edge Church Inlernolional Trustee5' Report ond Finonciol Statements For the Year Ended 31 December 2023 Tiustees, Report [￿ClUdIng Direclors. Report) (conlinued) Financlol Review During the year the Church mode 0 Surplus ol £129.64412022- £154.7561- The surplus resulting from unrestricted funds wos £157,17013J22: £141.7351 and Ihe deficit from reslricled funds wos £-27.52712022: surplus 01 £13.0211. The principal funding source of the charity during the yeaT was unre51ricted donolions ol £427.96612022.. £505.2961. Ihe income was lower than the previous year largely as a result ol decreased lilhes and offerings giving. Income from trading achvitie5 was £37.56015)22'. £49.1431. £4.IXJ512022: £10.1631 from Cofé soles ond £33.52712022.' £38.8021 from the hire of Ihe chority's focililies. Investment income received during 2023 01 £11.60612022= £10.6641 includes leed-in and export lorill lor £7,42312022'. £10,223) lor eleclriclly generoled from solor pone15 installed during 2018. Expendilvre during the period w05 £354.43812022- £433.9371. with £12.84012022.. £11.6791 expended on roising funds ond £341,59812022-. £422.2581 on choriloble octivilies. Support cos15 01 £234,967.12022'. £228,888) were opporlioned across activities in occoidance with note 9. Bolance Sheet funds 0131 December 3)23 lotal £2.W.947 comprising of unrestricted funds 01 £2,352.961 and restricted ftjnds of £35,986. Plons for future periods The mission ond objective ol the chuich remoin the some os outlined obove_ A strong base has been estobli5hed for the church to expond and build. 11 is the charity's inlenlion lo see growth in people occeph.ng the Chri51ian faith in becoming actively involved in the chuTch ond in serving the community. Our passion as a body ol believers is lo Golher, Growand Go in our vision lo serve our community wilh a message of hope. trulh and love. The mission arm ol Ihe church IREDI Ivnd5 ore distributed omongsl work wlh portners lo support their objectives as well os developing tn house mission inilialive5 to Ihe local community. Edge Church Inlernationol Trustees. Report and Finoncial Slalements For the Yeor Ended 31 December 2023 Truslees. Report (Includlng Direclors. Report) (contlnued) Reserves Policy The charity hod cash reserves 05 al 31 December l)23 01 £789.022. The Iruslee5' intention is to ensuie that cash re5erve5 ore maintained to cover al leost 3 months. operoling oclivilies. The trustees review the omovnl ol reserves together wtlh cash flow lorecosts on o qvarterly basis ol their boord meetings lo ensure thot they ole odequate to lullill the charity's continuing obligolions. Risk Management The trustees have identified potentiol risk5 loi Ihe charity ond have pul in place mea5ure5 10 minimi5e these risk5. Whilst risk management procedures continve lo develop ond improve, the charity hos odopted and odopled slructure5 and policies from the Avstrolion entity. Ttie key controls irnplemenled by Ihe charkfy inclvde.. RegLJlor board meeting5 wlh formal agendo and minutes Comprehensive planning. budgeh"ng. manogemenl reporting ond occounting Finonciol outhorisalion and delegah.on levels along wth budget opprovol processe5 Wrillen policie5 ond procedure5 While if is Tecognised that systems and intefftal contrd5 provide reasonable Ixjt not absolute 055uronce Ihol mojor risks ore monoged appropnately. the Iruslees ore satisfied thol the mojor risks hove been idenh.fied and mitigoled where possible. The report of the Iruslees hos been prepared in accordonce with the speciol provI￿on5 feloling lo companies subject to the Small companies, regirne wlhin port 15 01 the Companies Act 2006. Slulemenl of lyustees. responsibilities The Iruslees ore responsible for preporing the trustees. onnuol report and the finoncial statements in occordance with appiicoble low ond United Kingdom accounting slandords Iuniled Kingdom generally accepted occounling procticel. Compar)y law requires the Iruslees yepore finonciol stotements for each financial year. Under company law the trustees must not opprove Ihe financial stolemen15 unless they ore solislied Ihal they give o true ond foir view of the 51ale of allairs ol the charity and of the incoming resources and opplicalion of resources. including ils income and expenditure, ol the chorily lor the yeor. In preparing fh05e financial statements the trvslees are required lo.. Select suiloble occounling policies and then apply them consislenlly. Observe methods and principles in Ihe Chafitie5 SORP. Make judgements ond occovnting estimoles thol ore reosonoble ond prvdenl. Prepare the financial statements on the going concern ba￿5 unle55 il ￿ inopproFXiOte lo presume that the charity will continue in business. Edge Church Inlernolionol Tiuslees. Repod ond Finonciol Slolemen15 For the Yeor Ended 31 Decembei 2023 riv$tees' Report lincludlng Directo￿. Reporll [conlinuedl The Iruslees ore responsible lor keeping odequole occovnting rec(Kds Ihol ore 5ullicienl to show and exploin the chorily's Ironsoclions and disc105e with reosonable occurocy at uny ITme the finoncKJI p05ilion of the chority ond enoble Ihem lo ensure Ihat Ihe linonciol stolemenls com Jy the requ￿eMen13 01 the Compontes Act XK)6. They OTe olso responsible lor soleguording the ossels ol the choTity ond hence lor loknng reosonable 51ep5 l(Y the prevention ond detection ol kaud and olher ￿t￿lOrities. Piovision ot Inlomiolion lo oudllor 50 lor os each ol the Trustees ￿ owore ol Ihe time the rep￿ 15 Op￿0ved- There is no relevonl oudit Fnlormotion ofwhich the coms)ony'5 auditor 15 vnaware. ond The trustees hove token oll steps Ihal Ihey 0￿1 lo hove token to moke Ihem5efve5 oware ol any ielevanl ovdil inlomo*on ond to eslablish Ihol the ourfitor bs oware ol Ihol inlormotion. Auditors The auditors. Dunkley'5. wll be proposed reoppow)tment ol Ihe forthcoming Annuol Generol Meeling. This report was opproved by Ihe Boord on 1" 3 ILo2q and signed ol ils beholl. 5ignolure= Trvslee / Dtreclor Nome_. Re ort ol the Inde et)dent Auditors to theTrusteesof Ed e Churth Internètional istered number: 06461016 Opinion We have audited the financial statements of Edge Chufch Interr￿tiOnal (the 'charitable iompanTrll for the year ended 31 Decernber 2D23 which comprise the Ststemtyil of Finonchil Acti¥ities. the Balance SheeL the Cash Flow Statement and notes to the financiol Statements, I￿luding a summary of 51Enificant aEcountinE poliues. The financial rewrting framework that has been applied in their preparation 15 applicable Saw and ljaited Kingdorn ￿CountIng standards Iunited Kin8dotn Generally Accepted Accounting In ourop)nion the financial statements.. give 8 iiue and fair wew of the stale of the ChartIab￿ company'5 affairs as at 31 Oecember 2023 and of its incomin8 resouries and application of resources. induding ￿ income aDd expendiiwe. for the year then ended.. hive been properly prepared in aciordance with Unit8J Kingdorn Generally Accepted AccountinE PiactKe- and have been prepared in ac£ordonce wrth the requirements of theCofflpanie5Act 2006. Basis for opini We conducted our audit in accordance with InternatH)nal Standafds oryAuditirt8 ILIKI11SAs IUKII a￿1 app11cable law. Our reswn5ibiliJe5 under those standards are Further described in the Auditors. responsibilitie5 for the audit of the financial statements sectK)n of our report. We are independent of the charltable company in accordance ￿th the ethical requirÈrnÈnts that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical StaNSard. and we have fuffilled our other ethical responsitslities in accordance With these ￿qUIre￿ents. We beliwt that the audit evidenie we have obtained is suffKient and approprk4fe to provide basi5 for our opinion. Condu5ions Telating tD Koing ¢on(ewn In audiiinE the financial statement% we have corKluded that the tnjstees. use of the going concefn ba*s of accountiF)g in the Yeparation of the financial statements is approprtate. Based on the wtsrk we have F*rfot¥ned, hab* thitified any material u￿ertaIntIeS ￿la**ng to e¥ents or conditions thai. individually or collectivdv. may cast ygnificani Iyoubt on the charii•tAe compony's ab.fity to continue ès a going concern fer a period of at leasi twelve rnonihs from when the fjnancial stalementsa￿ authorised for issue. Our responsibilities and the re5pon5ibilities of the truttees with Te4ÉCt to Eoin8 corKerr* are described in the relevant sections of ihls rekM)rt. Other Snfotmalion The trv5tees are respon￿blE for the other infDTmation. The oth2r infDrtDatiOD comwses the infoimation included in thEAnnual Report. other than the finaniial Statements afid our Reportof the Independtht Audirorsthereon. Our opitsion on the financSal statanents does not co¥er the other information and except to the eXt*￿t otherwrise e%plicftly Stated in Ouf reporL we do not expre55 anyform of assuranEe CO￿l￿SK)n thereon. In conneciion our audff of the financial Statements. our respon51￿lIty is to read the other Informaiion and. In doing so. consider whether the other information is materially inconsittent wth the frnènoal $18tement5 or our knowledge obtained in the audit or othÈrwisÈ appèars to be Material￿ m￿stated. If vie identrfy such material incon*stencie5 or apparent materi31 misstatemerit5, we are rEquired to determine whether this give5 rise to a maiertral mi5Staternent in the financial statements themselve5. 11. based on the work we have performed, we conclude that there 15 a material misstatement of this Other information. we are reqvired 10 rep)rt that fart. We have nothingto rewrt ITh this re8ard. Maiters on which we are required to report by ex¢eptiL We have nothing to report in respect of the followine matters where the ChaiiDes IAccoynts and Reports) Re8ul3tions 2008 require5 U5 tD report to you If. in our opinion-. theinfomation eiven in the Report of theTru5tee5 15 incOn￿Stent in any rnaserial respett with the finanoal statements.. or thecharitable company has not kept adequate 3ccounting recoid5: or thefinanrial 5tatefflents are not in agreement with the accounting recordsand retums." or we have not received all the information and ExplanatiL¥15we requirefor ouraudil. Rt ortofthe Inde endent A¥ditrrfs rotheTrustees of Ed e Church Iniernational istÈred ￿vtnber.. 06461016 Responsibilities oltrustees A5 expléined Inore fully in the Statement of Trtyees. Responslbifrtie5. rhe irustees are also the dlrecior5 of the charitaNp cornpany for the purposes of company lawl are r￿ponSible for the preparation ol the linan¢Tal staiements and for being 5ali5fied that they give a true and lair view, and for 5uih internBI control as the trvstees determine is r￿eSsary to ena￿￿e the preparation of financial 5tatementsthatare fveefrom materkal mi55tatement. whether due to froud or error. In preparing the firyarKial statements. the trusiees are responsible for a55e55inE charitible ttsmpany's abiltyto continue as a Boing concem, di5c105ing, as applicable, mallers related ￿ Behig concern aThJ usi•g the goi￿ concern basis of accountinE Un￿$$ the trustees either intend to liquidaiethe charilable companyor to ￿seOperatIOns. w hav& reafisti¢ alternative but to do so. OUT responsibilittes fot the audit of thefinartcial Stat￿eThts We have been appointed as auditors under Section 144 of the charl￿&$ 2011 and report in accordance with the Act and ￿levant regulation5 made or having effectthereunder_ Our objectwe5 are to obtain re350naFJe asstsrarKe about whether the financièl stsI￿en[S a5 è whole are free frorn fflaterial misstatement. wheiher due te fraud or Èrror, and to issue o ResX7rt of the Independent Auditors that intludes our opinion. Reasonable assurance 15 a hish level of a55Utanie, but 15 not a guarantee that an audit condurted in accordancp with 15As IUKI wlll al¥viys detect a material misstatenent when it e￿$ts. Misstatements can arise from fraud or error and are considered material tf. individually Dr in the aggregate. they c(xJld reasortab￿ be expEtted to irbfiuencE the ecos)omic decisions OF users taken on basis of the5efinaniial Statements. We identify and askss the risks of material mTr55tatement of the financial statement5. whether due to fraud or error, and then design and perform audit piocedures resp)nswe to thosE ri5k5. iniludiry obtsining audrt ewdence that 15 5th11ient and appTopriate to provide a basis forour opinio Identifyin¥and a55e55in8 potential risk5 rd•ied to irregularit￿5.. In identifying and a$5essing risksof material misstatemÈnt in respertol irre8vlèritie5, includingfrdud and rtoTrcompli3nce with laws and regulation% WÈ cor15idered the follo¥nrrf'. - The aature ot the charitable 5e£tor. control enwronmeftt and performan￿ induding the design of the org3ni5ations rernuneration - Any matter5 we identified. hèwng obt•ired oftd ￿eWed orEansabon's documental￿n of their polic*s and wocedures relèting to.. o IdentifwnL evaluatinE and complying with lèwsaNI regvktions and whetheithey were awère ol any instances of nOTh￿0mpliance". o (ktectingand responding to the risksof Iraud and whetherthey have knth￿ed8e of any actual. swpected or alleged fraud.. o The internal controls e5tabli5hed lo mf(18ate ri5ksof fro￿1 or nrffi5g.>)J 1.614.056 491 1.664.547 DS CARRltO FORWARD 1351*61 1388.147 2195.791 61512 1.259.*3 CONTINUIP4G OPEf(AIION5 Al in¢ome on¢ exporKiture has ￿seTh trom conlirniNJ Oril￿fre 12 Edge Church Inlernational Trustees. Report and ￿nancI01 Slolements For the Yeor Ended 31 December 2023 Bolonce Sheet as at 31 December2023 31 X23 31 ￿22 Nc4es flXED ASSETS Tongible 0￿et5 1297.792 1363.38D Z2?7.792 CiJRRENI ASSErs Stock Deblors C05h at bonk ond in hond 1&842 699.6Y2 7B9.022 801169 721.534 UABILITIE5 Creoilois.. ornounls falhng due wilhin one 74.530 131.596 NET CURRENT ASSETS n7. 589.938 NON CURREN1 LIAblLIIIES Creditors.. amouTr15 falling due ollet one 15 636.4BS 694015 NET A55EIS 2.388.946 1259.J)3 TTrÈE FUND5 OF THE CHARITY Unie51iicteon Inter￿1 poid *)vemenl in group loon 27.593 29.739 57.753 Net cash used In financing qdlviHes 82.975 25.290 Net IncTegse in cash ond cash equlvulents 89.391 206.828 CASH AND CASH EQUIVAIENTS AT THE BEGINNING OF THE YEAR 699.632 492.806 CASH AND CASH EQUIVALENTS AT IHE END OF Tht YEAR 789.023 699. Cash and cash e9v1voler￿ comprise.. Cts5h ol bonk 789. 699.632 Thè noles on rwes 16-24 l£xm Jxwl ol these slolemenls 15 Edge Church Internotionol Trustee5' Report and Finonciol Statemenls For Ihe Yeor Ended 31 December 2023 Notes to the Financial Stolements Note l. Accovnling Policie5 The principol accounting policies ore summarised below. The accounting policies hove been opplied conyslenlly IhroughLxJI Ihe period. a) Basi5 of accounting The financial slotemenls of the choritoble company. which 15 a puljic benelil entify under FRS 102. hove been prepared in accordonce with the Chortlies SORP IFRS 1021 'Accounting ond Reporting by Chorilies- Slolement of Recommended Proctice opplicoble lo chorities preporing Iheir occounts in accordance with the Financial Reportin9 standard applicable in the UK and Republic of Irelond IFRS 1021 leffeclive l January 20151, finonciol Reporting Slandord 102 'The Financial Reporting Standard appficable in the UK and Repubfic ol Ireland, and the Componies Act 2006. The finonciol stolements hove been prepared under the historicol cost convenlion. os modihed by the revaluation ol certain assels. b) Chonges In accounting policies The have been no changes in occounling policies in fhe yeor. c) Fund accounllng Unrestricted funds are donolions ond other income received or generoled lor Ihe objectives ol the Church wlhout specified purpose ond are available 05 general funds. Reslricled fvnds comprise income received to be used in occordonce wlh specific inslrvction5 imposed by donors. less ossocioled costs. d) Incoming ie50urces All incoming resovrces ale included in the Slolemenl of Financial Activities when the charity is enlilled lo the income. it is probable that the income wll be received. and the amount con be quantified wlh reosonoble occurocy. All income is reported excluding VAT. discounts ond other sales taxes. The following specific policies are opptied lo porticulor categories ol income.. Voluntary income is received by way ol donation5 and gilts and is included in full in the stotement of Financial Activities when ieceivoble. Investment income 15 included when ieceivoble. Incorning resources from chorilable oclivilies includes regislrolion ond other income from events ond is recognised in Ihe occounling period in which the evenl is held. Other income resources ore ilems received oulside of Ihe normol course ol the chority's activities and ore included when receivable. Time donoled by the Church's members is nof recognised in the financial 51alements os this connot be reliobly valued. Edge Church Inlernotional Trustees. Repcxl ond Finonciol Slolemenls For the Yeoi Ended 31 December 2023 Notes fo the Financial Statements (conltnued) e) Resources expended Expenditure is recogni5ed on on occruols b0515 05 0 liobility is incurred. Expenditure includes any VAT which connot be fulty recovered. and is reported 05 Port of the expendituie lo which it relates: Chariloble expenditure comprises those costs incurred by the chority in the delivery of ils octivilies and 5ervice5 for its beneficiories. 11 include5 both costs that con be allocated direcly to svch oclivilies ond those costs of on indiiecl naluie nece55ary *0 Support them. Governance costs include those c05t5 associoled wlh meeting the con5tilulional and Stolutory requirements of the chority ond included the audit lees and costs linked to the slrotegic manogement ol Me charity. All costs ore allocoted between expenditure colegories of the Slolement of Finonciol Activities on a b0515 designed lo rellecl the use of the resource. Costs reloting lo o particular octivily ore ollocoted direcmy. othe￿ are apportioned on an appropriate bo5is a5 sel out in note 9. f) Operaling leases Renlals under operoling leoses ore chorged to Ihe Slalemenl of Finonciol Activities on o 5trcsighl line basi5 over the term ol the lease. Benefits received and receivable as an incentive to sign an operoling leose ore iecognised on o slroighl line b0si5 over the term ol the leose. g) Tangible rued assets Freehold Lond and Building5 are carried ot tair value at the dale of Tevalualion le55 ony subsequent accumulated detxeciation. Individuol fixed ossels costing £500 or more are copitoli5ed al cost and are depreciated on a slroight line bos15 over their e5*moled usefvl lives os lollows.. Freehold building5 Leosehold improvemenls Furniture, fixtures ond equipmenl 2.5% Over the term of frhe lease 5% or ￿J% h) Stock stock 15 valued at the lower of c051 and nel reolisoble volue. All stocks held ore goods for resale. l) Llubillty Recognition abilihes ore recognised 05 500n 05 there is a legol Of construclive obligation comrnilling the chorily to poy out resources j) Toxallon The charily ￿ exempt from corporation lax on ils chorilable and other octivilie5 k) Going Concem The Irustees consider the choriloble compony to be o going concem os there ore no maleriol uncertoinlies oboul Ihe chority's obility to continue. Edge Church Inlernolional Truslees. Report and Finoncial Statements For the Yeaf Ended 31 December 2023 Notes lo the Financlal Statements (continved) Note 2. Donations Vmeslrlcled Re51rlcted Total rith8S Orta olh¥ oftwn95 iDdud'.ng Donolions Failh loi the lulure incomeiDdudiryJ gtt Lid Olhw ie51ri¢lÈd ¢fI￿n9 417.791 417.nl 462847 IQ175 10.175 6.144 41449 21966 4144 Tol01 &144 434.110 52&262 For the year e￿e￿ 31 Decwnbet ZJ22 966 S2&262 Note 3. Investmenl Income Unrestricled Aesttlcl¢d l¢)ttsl Btsnk Inleresl recgvoLSe IncoTne Irom 501or pon 4183 4.163 7.423 10.*3 1).606 IQ664 For the w ended 31 Oe￿￿b￿ gJ72 Tr0 664 10.664 Note 4. Income from ChaFiloble Activilies 2022 Toto,. iJnt*sltFcled Reslrltled lolal Evenl regi51ration income 624 For the wr end￿ 31 OecembwXIZ2 624 624 Nole 5. Income from Trading AclNities 2023 Unreslricled Resfrlcted Tolol Cofe sale5 VeDue Hire Other Income Irom rro¢ity oclivilies S27 178 37.560 37.560 49.143 For the year ended 31 Decernber 49.143 49.143 18 Edge Church Inlernationol TnJslees' Report and Financial Statements For the Year Ended 31 December 2023 Notes lo the Financial Slalernents (conlinued) Nole 6. Expenthlure on Raising Funds 2022 Total uht•sltlckd ri•strlct•d Ic401 Cofé port Costs 9.014 9.014 4.524 11.679 Foi theTrwr er*Jed 31 Oecembei Note 7. Expenollure on Chaiitable Aclivilie5 Chwch Act4vllles HAonclThg Eyerds M¢sslons Total Unreslrlded Fuhds Direct costs Support cosls 9.115 74.76$ 187.9 224.363 412313 11.557 ii.557 27.$93 11.5S7 7.fk9 Reslwlded Funds LiTÈCt C0515 316&9 31669 69 9.945 9.9 31 DecernbH 2)23 2Y.$93 11.S57 45.22d 341.598 422.258 31Dec￿be[ W22 .739 422258 Included wlhin direct costs is'Bank loan intere5t- Ott)er interest ond chorges" of £27.593 12022,. £29.7391. Note 8. Govemance Cosls 2￿1 Audil and Indepwdenl examineF5 fee5 Olheruccovntoncyc05I5 5.500 547 4.?53 7.526 19 Edge Church International Tru5fees' Report ond Finoncial 51olements For the Yeor Ended 31 December 2023 Notes to the Financiol Stolements (continued) Note 9. Support Cost Breakdown by ActNiIy Cosls 9eTherollTrg Chorltoble lunds Volol Tol(51 20 1&55B 653n 25.VS 67.592 51.439 70$ 17.429 65.372 25.415 67.5?2 54.144 4.953 Depr￿ch0n 65.173 Piemise5 5olorie5 Govemon¢e Cts$15 Irfnparm￿t ch7rgellrde05el on mdL￿ri 73. 64.013 1707 281.141 234.967 22& Depreciation 15 apportioned on Ihe b05is of whether the asset is used lor charitable or other activities. Woges and solorie5 ond odministrative costs are apportioned on the bosis ol estimated staff time appl￿ed. All other support cosls relale lo choritoble oclivities. Note 10. st(rfl Cosls Solorycos15 5ecwtycostS Penyon cosls 54.096 1.875 $4.14& 64.D13 No employee5 eamed more thon £60.(￿ in the yeor12022.. None). The overoge number of employees during the yeorw05 315)22.. 31 Notell. Net Incomlng/Outgoing Resources This Is sloled chofging- Aud10￿ Fees DepFeDation S.500 65.372 65.173 Note l2. Trustee's Remuneralion. Benefits & Expenses No Iruslees, expenses weie poid and no tnJ51ee received ony remvnerolion in relotion lo their duties ond responsibililies os tru51ee. In accordance with the Chafity's Memorandum and Articles ol A550cialion. remunerotion was poid to the followng trustees. for employment within the chority. R Morgan received emoluments of £012022: £33.540- relired 23 August 20221 Edge Church Inlernolionol TTuslees' Report and Financiol Statements For the Yeor Ended 31 December 2023 Notes to the Financial Statements {continved) The emolument5 paid to the Iruslees were in respecl lo their roles 0$ ministers of religion. Included in the emolvmenls receNed were pension payments ol.. R Morgon £0 During the year 4 Iru51ees12022.. 21 cloimed or incuThed expense5 in relolion to their employed or ministry positions in the Church 05 follows- Bu5ine55 mileage and parkn.ng £O12022.- £6251 Travel & Subsistence £3.12912022-. £26.0851 Hospilolity and P051orol Core £4,101 12022.. £2.0301 Note 13. Fixed A55ets FIFlures. Fr*¢hL4d Lan¢ Leoseh¢4d FIIHn9s & & Bvildlng5 lffoio¥emenls Eqvlpmpnt roTrglble F4x£d Asstts As al Isl JaDugry 2ts23 C051 Accumulaled dyetsolion irnpcdrmenl Nei 800k Amovnt 15.8i2 2213 11639 440.Tr4 340,553 99.741 Z706.140 342.716 1363.380 22XI.iYXI Year ended 31 Oecember >Tr3 Op8ning ￿1 book amouni Addition5 ACUUISFion5 Tronslers DIspos015-C051 Dispostsls- 31 t64518 324.725 2.2Y7,7V2 12tq750 Al 31 Det￿b¥ 219).t 13.639 99.741 Z363.3aO Included in c051lvoluotion of Freehc4d Lond & Buildings is freehold lond of £600.IKIO The freehold building at Aztec West Business Pork was revolued ot 31 December 2022 bosed on a valuation on 14 December l)22 by Andrew Forbe5 Chartered Surveyors. on independent valuer. The valvolion is on o "Foir Volue" b0515 in line with FRS102. The valuation is bosed upon the volue pef the originol building purpose. ond not 05 0 Church or event centre. The Trustees hove revFewed the book volue of the Ffeehdd Lond ond Building5 05 0131 December X123 ond hove confirmed Ihal the volue is not moleiiolly different lo Foir Volue. 21 Edge Church Internolionol Tru51ee5' Report and Financial Slotemenls For the Yeor Ended 31 December 2023 Notes to the Finaneial Slalements (continuèd) Note 74. Debtors It a￿1 recovwob Pitpoyne4ts Amounts due from o5sooal&l enhly Olhw deblo 10.&)8 &488 .010 4.137 746 11147 1&642 Nole 15. Credllo 2023 Amoun9$ fall1￿ due *llhln otteyety Trade crè¢kto A¢¢tvals Taxation $00015eoJnly Bank Loons Arnounls due lo ossotial&l enlily Olhercreditot5 4.774 7.259 1.687 5&382 57.752 4.742 7￿49& 74530 131.596 rnounts lallln9 Ont yeor 1-2 wr5 2-5 yetsis ?5 yea[5 5?.70P i?isas 363.151 186.367 4S).187 PAJnk Loans 636.465 694.015 Included in bank loons is one loon wlh HSBC. The loan token out in 2015 01 £1. l(X).000 hos a balance of £693,946 0131 s* Decembef 2023. Thi5 loan is secured by o fixed chorge over the chority'5 freehold pTopeTly. The proportion of Ihe loon omount to the value ol the asset5 mortgoged is 47.5%. The bonk loon 15 repoyoble over a leim of 16 yeors ond 6 month5 wilh a fixed inteie5t rate 013.82% lor 10 years. then tracknng at 1.9% per annum over Ihe Bank ol Englond B05e Rote. All other bolonce5 ore on normol trocfing repoymenl schedules and do not occrue inleresl. The group loon, when applicable. is fepoyoble on demand. Creditor5 include £383,151 12022.. £450.1871 not wholly repoyoble within 5 years. Edge Church International Trustees, Report ond Finoncial Slalemenls For the Year Ended 31 December 2023 Notes to the Financial Statements {continved} Note 16. Summary of Fund Movements Openlng Fund &olonce5 Res10ted ¢1051ng Fund Bolonces Out9￿￿9 R*SttweeJ Ruowce5 BuildiTrg Revolvollon TvqThsr eslricted fuTh%s 2.19&791 477.939 320.769 2.352961 RED Resliicled tund5 &3.S12 61512 &144 33.669 .£69 .987 35.987 Toloi hjnds 1.259.303 2.388.948 Sponsorship funds for the RED mission initiative is held in a Testllcted fund. The figure bfoughl forwaid w05 £63.512. After the year's income received ond expenditure made, 0$ shown obove the bolonce corried forword wos £36.916. Note 17. Analysls ol Net A55el$ Unrestrlcled Iwltlct Funds Funds T•tul 18d Assels Currer)t Assets CvrTenl ￿￿E￿IllI$S klon Current Lioknlilie5 31 December ￿23 22P7.792 766.382 7d730 636.4&5 2.351Y 2.297.n2 802.169 74.5 636.485 2.38B.946 .787 2.2Cx) 35.987 xe