Charlty registration number 1123123 (England and Wales) Company registratlon number 06461016 EQUIPPERS CHURCH BRISTOL PREVIOUSLY KNOWN AS EDGE CHURCH INTERNATIONAL ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Caladine Chartered Certified Accountant5
EQUIPPERS CHURCH BRISTOL PREVIOUSLY KNOWN AS EDGE CHURCH INTERNATIONAL LEGAL AND ADMINISTRATIVE INFORMATION Trustses M Collard S Monk R Davies M Swinbume Awebster (Appointed 5 December 2024) (Appointed 5 De¢ernber 2024) Secretsry S Drummond Senlor Management Team A Shepherd - Pastoral P Prothero- Pastoral K Tovey- Operations Lead (January 2024- Aprll 2024) (May 2024 - December 2024) Charfty number {England and Wales 1123123 Company numbér 08461016 Prlnelpal addr•89 1160 Aztec West Almondsbury Bristol BS32 4TF Regl8tèrnd offlce 1180 Aziec West Almond5bury Bristol BS32 4TF Indep•ndent •xamlnar John Caladine FCCA CTA FCIE Caladine Llmlted Chantry House 22 UppertOD Road Eastbourne East Sussex BN211BF Bankers HSBC 40 Hlgh Street Portishead Bristol BS20 6EN Sollcltors Geldards LLP Law Firm Number 1 Pride Place Pride Park Derby DE24 8QR
EQUIPPERS CHURCH BRISTOL PREVIOUSLY KNOWN AS EDGE CHURCH INTERNATIONAL CONTENTS Page Trustées, report statement of trustees, responslbilities Independent examlneV8 report statement of financial activities Balance sheet Notes to the financial 8tstements 8-19
EQUIPPERS CHURCH BRISTOL PREVIOUSLY KNOWN AS EDGE CHURCH INTERNATIONAL TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees pr8sent Iheir annual report and financial statements forthe year ended 31 Decernber 2024. January to September the church operated as Edge Church International. and from Seplember transitioned to become part of the Equippers Church movement. The church name was officially changed to Equippers Church Bristol in December 2024. The financial statements have been prepared in accordance with the accounting policies set out In note 1 to the financial statements and comply with the Church's goveming document, the Companies Act 2006, FRS 102 'The Flnancial Reporting Standard applicable in the UK and Republic of Ireland and the Charities SORP "Accountlng and Reporting by Charltles: Statement of Recommended Practice appllcable to charities preparing thelr accounts in accordance with the Flnancial Reportlng Standar(l applicable in the UK and Republic of Ireland IFRS 102)" obCtIveS and aetlvltl8B The principal aims and obl8Ctlves of the Church, as set out In the Memorandum and Artl¢les of Associatlon (dated 31 Dernber 2007 and revlsed 21 October 2015 and again 5 December 2024) 18 to advance the Christlan falth, to relieve sickness and financlal hardship, to promote and to preserve good health and to advance education. The mission of the Church Is to "Know Christ, Be the Church and Serve our Communlty wlth a message of hope. truth and love.. The strategy to achieve these objectlves is to take the truth of the message of Je8us Christ and the teaching of the Christian faith and communicate them in ways relevant to the culture of today. Public benefit When planning the activities of the Church the trustees have given due consideratlon to the Charity Commission's published guidance on public benefit requirements. In particular, worship servlces, children's 8nd youth Programs are held for people living in the local and the wider communlty. Pastoral care is provided for members of the church together with the local community. Achlevements and perfomianco Significant activities and 8chi8vements against obJ'8Ctives During 2024 the church continued to grow with many new famllies joinlng the church. Attendance durlng 2024 has contlnued to increase. A decislon was made during December to move to seniices on a Sunday to accommodate the grovrth. The Operations Lead has contlnued to focus on building an operatlons team made up of volunteer leaders to activate the vision across the campus. G3 Circles, now known as EGroups (small groups focusslng on relationship and discipleship), have continued to be a focus area of the church with approximately 50% of active congregation belng a part of an Egroup. Key activities durlng the year include: preparation for a transition to become 8 part of the Equippers UK famity. The transitlon took place in September 2024 with the changes to the official charhy name and Article5 completing In January 2025. A key focus of our kids. team has been to continually build the team leaders to facilitate the growih in famllies joining the church and Hcce5slng the kids, prograrn on Sundays. 2024 has also Been a growlh in our youth min15try and prayer ministry. The work done in Ihe church and community was rnade possible through the dedication and commitment of many individuals who offer their time and energy to serve. As more volunteers continue to be empowered, this core group of people continues to grow. The dose collaboralion with the Edge Church Intemational Ltd team in Australia has been a significant faclor in the continued growth and fruiffulness of the Bristol location. With the transition to loin the Equippers family, a new ollaboration has begun and there is a sense of excitement as from September 2024 the ChUh operates as part of the Equippers family.
EQUIPPERS CHURCH BRISTOL PREVIOUSLY KNOWN AS EDGE CHURCH INTERNATIONAL TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Transitioning into Equippers has enabled a growing sense of purpose due to the preaching being in person 8nd rather than streamed from Australia. Thls has led to a sense of belonging with close proximity to other UK Equippers locations. Flnanclal ravlew During this financial year, the charfty made a net surplus on unrestricted fvnds of £7,264, leavlng a balance in hand of £2,360,225 on 31st December 2024. Overall, the Trustees are pleased with the results for 2024 and note the charity is in a healthy financial posltion. Res8rrfes policy In accordance with best practice, reserves have been set at a level equating to three months. essential ¢or8 operating costs. This currently equates to £69,500. Reserves at 31 December 2024 were £664,240. Major risks The trustees have identlfied potential rlsks for the charity and have put in place measures to minimise these risks. Vvhilst rlsk management procedures continue to develop and improve, the charity has adopted and adapted structures and policles from the Australian entity. During the last four months of 2024 a conslderable amount of work has been undertaken to ensure thls contlnues on jolnlng the Equlppers movement. The key controls implernented by the charity indude., Regular board meetings with formal agend8 and minutes Comprehensive planning, budgetlng, management reporting and Bccounting Financial authorisatlon and delegation levels along with budget approval processes Written policles and procedures While it Is Cognised that syslem5 and intemal controls provlde reasonable but nol absolute assurance that major risks are managed appropriately, the trustees are satisfied that the major risks have been Identified and mitigated where posslble. Plan8 lor futurè perlods From September 2024 and moving forward the church will continue to operate as part of the Equippers Famlly. The Church will continue to grow and bulld a stmng base and foundation adopting the Equippers beliefs and mission, in line with the existing Edge Church beliefs. As Equippers we believe in equlpping and empowering the whole church to be on mlssion for God. Ihihether you have been called to education, healthcare, media, business OT family to an office, a field, a building site or a church. We want to champion you to extend the kingdom in yourworld. The ml8slon arm of the church (RED) funds are dlstrlbuted amongst work with partners to support their objectlves as well as developlng in house mi5slon initlatlves to the local community. Structure, govornance and managemenl Equippers Church Bristol is a company limited by guarantee and a register8d charlty and Is affiliated wlth the Equippers family of Churches. The trustees, who are also the directors for Ihe purpose of company law, and who served during the year and up to the date of signature of the financial statements were: M Collard S Monk R Davies M Swinburne A Websler M Somers (Appointed 5 December 2024) (Appointed 5 December 20241 (Resigned 5 December 2Q24)
EQUIPPERS CHURCH BRISTOL PREVIOUSLY KNOWN AS EDGE CHURCH INTERNATIONAL TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Recruitment and appointment of tnjstees Trustees must demonstrate strong ethical v81ues and a commitrnent to the church. Polential new trustees are nominated for appointment by a current trustee and then a vote is held of all trustees. If the current trustees agree the new trustee is approachèd and appointed. Trustees are updated on developments regulady. None of the trustees has any beneficial inlerest in the company. All of the trustees are members of the company and guarantee to contribute £1 In the event of a windlng up. Day-to-day management Is vested In the leadershlp team led by the interlm Campus Pastor, Andrew Shepherd (January to Aprfl 2024) and Peter Prothero (May to December 2024}, and the Operations Lead, Kim Tovey. The trustee5 have delegated aspects of decision maklng to the leadership team, whllst maintalnlng control over major strategic and financial decisions. The report of the trustees has been prepared Sn accordance wllh th8 special provlslons relatlng to companies subject to the small companies, regime wlthin part 15 of the Companies Act 2006. The trustees, report was approved by the Board of Trustees. Trustee Date.. 2510612025
EQUIPPERS CHURCH BRISTOL PREVIOUSLY KNOWN AS EDGE CHURCH INTERNATIONAL STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2024 The truslees, who are also the directors of Equippers Church Bristol for the purpose of company Saw, are responsible for preparing the Trust8es' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Stsndards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial ststements for each financial year which give a true and fair view of the state of affairs of the Church and of the incoming resources and appllcation of resources, induding the Income and expenditure, of the chadtable company for that year. In preparing these flnancial statsments, the trustees are requlred to: select suitable 8CCDunting policies and then apply them conslstently., observe the methods and prlnciples in the Charities SORP., make judgements and estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed, subject to any malerlal departures dlsclosed and explained in the financial 5tatements- and prepare the financlal statemenls on the going concem basls unless it is inapproprfate to presume that the Church will continue in operation. The trustees are responslble for keeping adequate accountlng records that d15close with reason8ble accuracy at any time the financlal positlon of the Church 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 Church and hence for tgking reasonable steps for the preventlon and detection of fraud and other Irregularitles.
EQUIPPERS CHURCH BRISTOL PREVIOUSLY KNOWN AS EDGE CHURCH INTERNATIONAL INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF EQUIPPERS CHURCH BRISTOL I report to the trustees on my examination of Ihe financial ststements of Equlppers Church Bristol (the Church) for the year ended 31 December 2024. Responslblllties and basis of roport As the trustees of the Church (and also Ks directors for the purposes of COfnpany18w), you are responsible for the preparation of the financial statements in accordance wlth the requirements of the Companles Act 2006. Havlng satisfied myself that the financial statemenls of the Church are not requlred to be audited under Part 18 of the Companles Act 2006 and are eliglble for independent examination, I report in respect of my examination of the Church's financial slatements carried out under section 145 of the Charities Act 2011. In carrying out rny examination I have followed the Direcllons given by the Charlty Commisslon under section 145{5)(b) of the Charlties Act2011. Independent examIn•$ statement Since the Church's gross income exceeded £250,000, the independent examlner must be a member of a body listed in section 145 of the Charities Act 2011. 1 confimi that l am qualified lo undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the Ilsted bodles. I have completed my examinatlon. I confimi that no matters have come to my attention in connection wlth the examinatlon giving me cause to believe that In any material respect: accounting records were not kept in respect of the Church as requlred ty section 386 of the Companies Act 2006. the financial statements do not accord with those records., or the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the finanGial statements glve a true and falr view, which is not a matter consldered as part of an independent examination,. or the financlal statements have not been prepared In accordance with the methods and principles of the Statement of Recommended Practice for accountlng and reporting by charilles applicable to charilies preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland (FRS 102). I have no concems and have come across no other matters in connection with the examination to which attentlon should be drawn In this report in order to enable a Proper understanding of the financial Statements to be reached. John Caladlne FCCA CTA FCIE Caladine Limited Chantry House 22 Upperton Road Eastbourne East Sussex BN21 1BF
EQUIPPERS CHURCH BRISTOL PREVIOUSLY KNOWN AS EDGE CHURCH INTERNATIONAL STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted Restricted funds funds 2024 2024 Total Unrostrfcted Restricted funds funds 2023 2023 Total 2024 2023 Notes Income from: Donations and legacies Charilable activities Other trading aGtivitle8 Investments 408,414 171 27,513 13,206 11,537 419,951 171 27,513 13,213 427,968 806 37,560 11,606 8.144 434.110 806 37,560 11.606 Total Income 449,304 11,544 460,848 477,938 6,144 484,082 Expendlturo on: R8islng fund5 Charbtable actlvlties Other expendlture 10,549 411,607 19,884 10,549 437,537 19,884 12,840 307,930 12,840 341,599 25,930 33,669 11 Total expendlture 442,040 25,930 467,970 320.770 33,669 354,439 Net Incofflel(expendlture) and movement In funds 7,284 (14,3861 (7,122) 157,168 (27,525) 129,843 Reconcillatlon of funds: Fund balances at 1 January 2024 2,352,961 35,985 2,388,946 2,195,793 63,510 2,259,303 Fund balances at 31 Dec•mber 2024 2,360,225 21,599 2,381,824 2,352,961 35,985 2,388,946 The statement of financlal activities Includes all gains and losses recognlsed In the y8ar. All income and expendtture derfve from contlnuing actlvltles.
EQUIPPERS CHURCH BRISTOL PREVIOUSLY KNOWN AS EDGE CHURCH INTERNATIONAL BALANCE SHEET ASAT31 DECEMBER 2024 2024 2023 Notss Flxed assets Tanglble assets 16 2,272,713 2,297,792 Current assets Debtors Cash at bank and in hand 17 34,076 753,498 13,147 789,022 787,574 802,169 Credltor•: •mounts falllng due wlthln one year 18 (101,7351 {74,530) N•t current a•••t8 685,839 727,639 Totsl as8•t• less current Ilabllltle8 2,958,552 3,025,431 Credltors: amounts folllng due after more than one year 19 (576,728) 1636,4851 Net a8set• 2,381,824 2,388,946 The fund8 of the Church Restricted Income fund8 Unrestricted funds 22 23 21,599 2,360,225 35,985 2,352,961 2,381,824 2,388,946 The company is entitled to the exemptlon from the audit requlrement contalned In 6ection 477 of the Companles Act 2006, for the year ended 31 December 2024. The dlrectors acknowledge their responslbilities for complying wlth the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audlt of its finandal ststements for the year In questlon In accordance with sectlon 476. These financial statements have been prepared in accordance with the provlsions applicable to companies subject to the small companies regime. The financial statements were approved by the trustees on 2510612025 Trustee Company reglstration number 06461016 (England and Wales)
EQUIPPERS CHURCH BRISTOL PREVIOUSLY KNOWN AS EDGE CHURCH INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng policies Company Infomiation Equippers Church Bristol is 8 private company limited by guarantee incorporated in England and Wales. The registered office is 11eo A2tec West, Almondsbury, Bristol, BS32 4TF. 1.1 Accountlng conventlon The financial statements have been prepared in accordance with the Church's governing document, the Companies Act 2006, FRS 102 "The Flnancial Reporting Standard applicable in the UK and Republic of Ire18nd" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparlng their accounts in accordance with the Financi81 Reporting Standard appllcable in the UK and Republic of Ireland (FRS 102). The Church 15 a PubllG Benefit Entity as defined by FRS 102. The Church has taken advantage of the provlslons In the SORP for charftles not to prepare a statement of cash flows. The financial statements are prepared in sterling, which Is the functlonal currency of th8 Church. Monetary 8mounts in these financial statements are rounded to the nearest £. The financlal ststements have been prepared under the hlstorical cost convention, modified lo include the revaluation of freehold properties at fair value. The principal accountlng policies adopted are set out below. 1.2 Golng concern At the time of approving the financlal statements. the trustees h8ve a reasonable expectation that the Church has adequate resources to continue In operational existence for the foreseeable future. Thus the trustee8 contlnue to adopt the going concern basis of accounting in preparing the fin8nclal statements. 1.3 Charltable funds Unrestricted funds are av8ilable for use at the dlscretion of the trustees in furtherance of thelr chatltable objectlves. Reslricted funds are subject to speciflc conditlons by donors or grantors as to how they may be used. The purpose8 and uses of the restricted funds a set out In the notes to the financlal statements. 1.4 Income Income is recognised when the Church Is legally entitled to It after any perfomiance conditions have been met, the arnounts can be measured reliabty, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the Church ha5 been notified of the donallon, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Glft Aid or deeds of covenant is recognlsed at the time of the donation. Legacies are recognised on receipt or otherwise ff the Church has been notified of an impending distribution. the amount is known, and receipt is expeGted. If the amount Is nol known, the legacy is treated as a contingent asset.
EQUIPPERS CHURCH BRISTOL PREVIOUSLY KNOWN AS EDGE CHURCH INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng policles (Contlnued) 1.5 Expendlture Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to third party, It is probable that a transfer of economic beneffts will be required in settlement, and the amount of the obligalion can be measured reliably. Expenditure is classified by activlly. The costs of each acllvity are made up of the total of dlrect Costs and shared costs, including support costs involved in undertaking each activity. Dlrect costs attrfbutable to a single activity are allocated directly to thal activlty. Shared costs which contribute to more than one 8Ctivity and 5UPPOrt cost5 whlch are not attributable to a single activlty are apportioned between those activilie5 on a basis consistent wlth the use of resources. Central slaff costs are allocated on the basis of lime spent, and depreciation charges are allocated on the portlon of the asset's use. 1.6 Tanglble flxed asset8 Tangible fixed essets costing £500 or more are Initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any Impaimienl losses. Depreclatlon is recognlsed so as to wrlte off the cost or valuatlon of assets less thelr residual values over th8lr Useful lives on the following basis.. Freehold land and bulldings Improvement5 Fixtures and fittings Buildings 2.5010 Stralght line., Land 0% 2.50 or 100 Soh or 20Vo The gain or loss arising on the disposal of an asset is determined as th8 difference between the sale proceeds and the carying value of the asset. 8nd is recognised in the ststement of financial activilies. 1.7 Impairment of flxéd a88ets At each reporting end date, the Chuich reviews the carrying amounts of Its tangible assets to determine whether there Is any Indication that those assets have suffered an Impairment loss. If any such Indication exlsts, the recoverable amount of the asset is estimated In order to determine the extent of the Impainnent loss {If any). 1.8 Cash and cash equlvalents Cash and cash equivalen15 include cash In hand, dep051ts held at call with banks, other short-term liquid investrnents wilh origlnal maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings In current liabilities. 1.9 Flnanclal Instruments The Church has elected to apply the provlsions of Section 11 'Basic Financial Instruments, of FRS 102 to all of its financial inslruments. Financial instruments are recognised In the Church's balance sheet when the Church becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable Tight to Set off the recognised amounts and the is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
EQUIPPERS CHURCH BRISTOL PREVIOUSLY KNOWN AS EDGE CHURCH INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng polici05 (Continued> 8a51c financial assets Basic financial assets, which include debtors and cash and bank balanGes, are initialty measured at Iransactlon price inGluding transaction costs and are subsequently carried at amortlsed cost uslng the effective Interest method unless the arrangement constilules a financing transaction, where the transaclion Is measured at the present value of the future receipts discounted at a market rate of Interest. Financial assets classffied as recelvable wthin one year are not amortised. Baslc financial Ilablllties Basic financial liabilities, including creditors and bank loans are Initially recognised at transaction prlce unless the arrangement constitule5 a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Flnancial liabilities classified as payable vithin one year are not amortised. Debt instruments are subsequently carried at amrtised Cost, uslng the effective interest rate melhod. Trade creditors are obligatlons to pay for goods or services that have been acqulred in the ordlnary course of operations from suppliers. Amounts payable are classified as current liabllities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised Inillally at transaction prlce and subsequently measured at amortised cost uslng the effective interest method. Derecognltlon of financial liabilitles Flnandal Ilabille5 are derecognised when the Church's contractual obligations expire or are discharged or cancelled. 1.10 Efflployee beneflt¥ The cost of any unused holiday entitlement Is recognised in the period In which the employee's services are recelved. Temiination benefits are recognised Immediatety as an expense when the Church Is demonstrabty commltted to terminate the employment of an employee or to provide tennination benefits. 1.11 Retlrem•nt beneflts Payments to defined contrfbution retirement benefft schernes are charged as an expense as they fall due. Crltlcal accountlng estimateg and Judgements In the application of the Church's accounting policies, the trustees are required to make judgements, estimates and assumptions aboul the carrying amount of assets and liabilities that are nol readity apparent from other sources. The estimates and associated assumptions are based on histortcal exp8rience and other factors that are considered to be r81evant. Actual results may differ from these estirnates. The estlmates and undedylng assumptlons are reviewed on an ongoing basis. Revlsions to accounting eslimates are recognised in the period in which the estimate is revised where the revision affects only that period, or In the period of the revision and future periods where the revision affects both current and future periods. 10
EQUIPPERS CHURCH BRISTOL PREVIOUSLY KNOWN AS EDGE CHURCH INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Income from donation6 and legacles Unrestrlcted Restrlcted funds lund• 2024 2024 Totsl Unrestricted Restrlcted funds funds 2023 2023 Total 2024 2023 Donations and gifts 408,414 11,537 419,951 427,966 6,144 434,110 Donatlons and glft8 Tithes and other offerings including gift ald Faith for the future Income including gift ald Other restdcted offerings 408,095 1.382 409,477 417,791 417,791 319 319 10,155 10,175 10,175 6,144 10,155 6,144 408,414 11,537 419,951 427,968 6,144 434,110 Income from charltsble actlvltles Unrestrlctod funds 2024 Unrestrlcted fund• 2023 Ev•nts Event reglstration Income 171 806 Income from other tradlng actlvlti•8 Unre8trlcted Unre8trlcted funds fund8 2024 2023 Bookshop Cafe sales Venue Hire Other Income 505 6,236 20,727 45 4,005 33,527 28 Other trading activities 27,513 37,560 11
EQUIPPERS CHURCH BRISTOL PREVIOUSLY KNOWN AS EDGE CHURCH INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Income Irorn Investments Unre8trlcted Restrlctod funds funds 2024 2024 Total Unrfrstrlcted Restrlctad funds funds 2023 2023 Total 2024 2023 Income from solar panels Interest receivable 7,698 5,508 7,698 5,515 7,423 4.183 7,423 4,183 13,206 13,213 11,606 11,606 Expendlture on ralslng fund• Unrestrlctad Unmtrlcted fund8 funds 2Q24 2023 Tradlng co•t8 Cafe Booksttop Support costs 5,085 788 4,678 9.014 3,828 10,549 12,840 12-
EQUIPPERS CHURCH BRISTOL PREVIOUSLY KNOWN AS EDGE CHURCH INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEAIBER 2024 Exp•ndllur• on eknrtl•bl• ¥¢VI ChUb Ev•nt• Mh•li>n• Totsl Chur Ev•nli 2024 2024 2024 2024 2023 2023 Dlr•ct M•t• 185,014 15,B42 1BI,856 76.789 33,8Bg 110,458 Ckn)l fijndlng of •dMU•i18•• note 91 9,9BB Sh4r• of •upport•nd goYarn•nc• colts (••• not• 101 PppOrt Govafflanc• 218,119 3,004 242,355 3,338 203,D74 4,953 11,557 11.557 220,188 4,953 187 167 387,037 12.265 38,215 437,637 284,816 11.557 45,226 341.599 Analy1 by lund Unrestrfctad lund Reslrktad lund& 387,037 12,205 t2,2BS 26,D30 411.e07 25,930 284,818 11,657 11,557 33,869 307.&30 33,889 387.037 12,286 3B,215 437,637 294,816 11,567 45,226 341,589 13
EQUIPPERS CHURCH BRISTOL PREVIOUSLY KNOWN AS EDGE CHURCH INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Grants payable Mlsslons 2024 Grants to institutions.. Edge Church Australia (Transform Cambodia) 9.988 10 Support Costs allocatod to activltl•8 2024 2023 Staff costs Deprecigtion Admlnistration Travel Premises Bank loan interest Governance costs 87,092 57,938 22,914 18,971 54,347 25,594 3,513 54,146 65,372 17,429 25,475 39,999 27,593 4,953 250,369 234,967 Fundraislng Churth Activities Events Misslons 4,676 221,123 12,285 12,285 3,828 208,027 11,557 11,557 250,389 234,967 2024 2023 Govornance colts comprl••'. Independent Examlnation fees (Audlt 2023) Accountancy 960 2,553 5,500 (5471 3,513 4,953 11 Other expendlture Unrestrlcted Unrestrfcted funds funds 2024 2023 VAT overdalm from prior years 19,884 Upon its association wilh the Equippers group of Churches. a review of the VAT accountlng has resulted in overdaims at 31 December 2024 of £19,884. This is now the subject of negotiatlon with HMRC regarding related potentlal penalties and interest. 14-
EQUIPPERS CHURCH BRISTOL PREVIOUSLY KNOWN AS EDGE CHURCH INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 12 Net movèment in funds 2024 2023 The net movement in funds Is stsled after chargingl(crediting): Fees payable to the charity's independenl examSner. - for the independent examination of the chaTty'S financial statements for other financlal seNic8s Depreciation of owned tsngible fixed assets 960 1,320 57,938 5,500 1547) 65,372 13 Tru8t••s None of the trustees lor any persons connected wlth them) recelved any remuneratlon or benefits from the Church durlng the year. The Trustees had £41 of book resources, and £418 of hospitality costs met by the Church. The Church recelved 8ggregale donations from Trustees and Related Partles of £19,423 durlng the year. 14 Employegs The average monthly number of employees during the year wa8: 2024 Number 2023 Number Employm•nt CO8t• 2024 2023 Wages and s81ades other penslon costs 86,677 415 54,096 50 67.092 54,146 There were no employees whose annual remuneration more than £60,000. Remuneratlon of key management personn•l The remuneratlon of key management personnel was as follows: 2024 2023 Aggregate compensatlon 44,696 38,744 15 Taxatlon The charlty is exempt from taxation on its aclivities because all its income is applied for charitable purpose5. 15-
EQUIPPERS CHURCH BRISTOL PREVIOUSLY KNOWN AS EDGE CHURCH INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 16 Tanglble flxed assets FrBehold Improvements FlxturH •nd and bulldlngs flttlngj Total Cast At 1 January 2024 Additions Disposals 2,250,000 15,852 356,668 2,622,518 32,858 32,858 12,579) 12,579) At 31 December 2024 2,250,000 15,852 386,945 2,652,797 Depreclatlon and Impalment At 1 January 2024 Depreciation charged In the year Eliminated in respect of dlsposals 41,250 41,250 3,541 1,328 279,934 15,360 12,579) 324,725 57,938 12,579) At 31 December 2D24 82,500 4,869 292,715 380,084 Carrylng amount At 31 December 2024 2.167,500 10,983 94,230 2,272,713 At 31 December 2023 2,208,750 12,311 76,731 2,297,792 Induded in co6Vvaluation of Freehold Land & Buildings Is freehold land of £600,000. The freehold buildlng at A2te¢ West Bu8lnes8 Park was revalued at 31 December 2022 based on a valuatlon on 14 December 2022 by Andrew Forbes Chartered Surveyors, an independent valuer. The valuation is on 'Fair Value" basis In line wllh FRS102. The valuation is based upon the value per the original building purpose, and not as a Church or event Centre. The trustees have reviewed the book value of the Freehold Land & 8ulldlngs as at 31 December 2024 and have confimied that he value is not materially dlfferent to falr value. 17 Oebtor8 2024 2023 Amounts falllng due wlthln one year: Other debtors Prepayments and accrued incom8 17,075 17.001 4,137 9,010 34,076 13,147 16-
EQUIPPERS CHURCH BRISTOL PREVIOUSLY KNOWN AS EDGE CHURCH INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 18 Credltors: amountg falllng due wlthln onè year 2024 2023 Notes Bank loans Other taxation and soclal securty Trade creditDrs Other creditors Accruals and deferred Income 20 59,769 18,994 16,252 54 6,668 57,461 2,155 881 3,537 10,496 101,735 74,530 19 Credltors: amount8 falllng duo after more than one y•ar 2024 2023 Note• Bank108ns 20 576,728 636,485 20 Loans and overdraft• 2024 2023 Bank loans 638.497 693,946 Payable within one year Payable after one year 59,769 576,728 57,461 638,485 Amounts induded above whlch fall due after five years: Payable by Instalments 313,497 383,151 In 2015, HSBC issued a £1,100,000 loan wlth a term of 18 years and 6 rnonths. The loan carries a fixed interest rate of 3.824/0 for the firsl l O years. After this period, the interest rate wlll become variable, set at 1.9% per annum above the Bank of England Base Rate. The loan is secured by fixed charges over the charity's freehold property al 1160 A2tec West, Bristol. 21 Retlrement beneflt Schemes 2024 2023 Defined contributlon scheme8 Charge to profit or loss In respect of defined contributlon schemes 415 50 The Church operates a defined contribution pension scheme for all quallfying employees. The asBets of the scheme are held separateSy from Ihose of the Church iri an independently administered fund. 17-
EQUIPPERS CHURCH BRISTOL PREVIOUSLY KNOWN AS EDGE CHURCH INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 22 Restrlcted funds The restricted funds of the charty comprise the unexpended balances of donatlons and grants held on trust subject to specific conditions by donors as to h¢)w they may be used. At 1 January 2024 Incoming rèsources Re8our¢e• expènded At31 December 2024 REO Transform Cambodla 35,985 1,556 9,988 (15.942) 19,988) 21,599 35,985 11.544 (25,930) 21,599 Prevlous yoar: At 1 January 2023 Incomlng r•source• Re8OUTCeS expended At31 December 2023 RED 83,510 6,144 (33,669) 35,985 RED - Thls fund represents sponsorship funds for the RED mission Inits'atlve. Transfomi Cambodia This fund represents donations raised to support Edge Church Australla's mlsslon work, Transform Cambodia. 23 Unre8trlcted fund• The unrestricted funds ol the charity comprfse the unexpended balances ofdonations and grants which are not subject to specific condtiions by donors and granlors as to how they may be used. These include designated funds which have been set aside out of unrestrlcted funds by Ihe truslees for specific purposes. At31 D•cember 2024 At 1 January 2024 Incomlng Ro•ource8 resources expendad General funds 2.352,961 449,304 (442,040) 2.360,225 Provlous year: At 1 January 2023 Incomlng resource5 Resource5 expended At31 December 2023 Gen8ral funds 2.195,793 477,938 1320.770) 2,352,961 18-
EQUIPPERS CHURCH BRISTOL PREVIOUSLY KNOWN AS EDGE CHURCH INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 24 Analysls of net assets between fund$ Unre•trlctod funds 2024 Re8trlctsd funds 2024 Totsl 2024 At 310ecember 2024: Tanglble assets Current assetsllliabilitie8) Long temi Ilabillties 2,272,713 664,240 1576,7281 2,272,713 685,839 (576,728) 21,599 2,360,225 21,599 2.381,824 Unr•strlcted funds 2023 Re8trl¢ted fund• 2023 Total 2023 At 31 Oecemb•r 2023: Tanglble assets Cuant assetsllllabillties) Long term liabillties 2,297,792 691,654 (636,485) 2,297,792 727,639 1636,485) 35,985 2,352,961 35,985 2,388,946 25 Related party trangactlon• P Prothero, key management personnel. InvoiGed Ihe Churcth £18,000 for consultancy, £26,654 for travel and accommodation, and £450 for phone allowance during the year. Key rnanagement personnel had £876 of hospitality and subslstence, and £10,605 of travel and accommodetion costs mel by Ihe Church. The Church made Le)ry contributlons of £2,155 to Acts Churches UK, a reglster8d Charity Wlth Iwo comrnon trustees, during the year. The Church made paymenls to Equippers Church, a registered Charity Wlth two common trustees, of £2,800 for guest speakers, and £7,320 for shared services during the year. 19