Faith Christian Centre UK Report of the trustees th Financial Statements for the year ended 29 February 2024 Faith Christian Centre UK Trustees Annual Report Year ended 29th February 2024 Registered Charity number 1123217 Principal Address Celebration Trebor Building, Wern Trading Estate, Rogerstone, Newport Charity Trustees Mr Michael Taylor, Mr Patrick Sparrow, Mr Barry Robberts, Mr Paul Van Essen Bankers HSBC, Bridge Street, Newport, Wales NP20 4UT Solicitors Lawson, Lewis &Co., 37 Brassey Avenue, Eastbourne, East Sussex Governing Document 13th January 2008 This gives the Trustees powers to exercise their discretion in the discharge of their responsibilities towards the charity and imposes no special restrictions upon them. Objectives To advance the Christian faith, to relieve sickness and financial hardship and to promote good health. Public Benefit The trustees are always mindful of the guidance published by the Charity commission on the public benefit. Activities and Achievements The Charity is a community-based church. It meets every Sunday but is also open during the week to serve the community. This includes a community coffee shop that includes a children's playroom, soft play, baby and toddler classes, and a Friendship group for lonely people. The building is also used by the scouts, and an archery class. There is also a gym and music school. There is a large amount of community use of the building during these times. The funds that are generated through rental are being reinvested into the building and its renovation. This year has been a significant year for the charity. After 10 years, we have secured the purchase of the property with the help of the Welsh government and by selling part of the property. This has enabled us to purchase the building without needing a mortgage. The project continues to grow and the decision to separate the coffee shop into its own CIO was made. This was done for Faith Christian Centre UK Trustees Annual Report Year ended 29th February 2024 clarity and to allow coffee shop and employment coaching through the coffee shop to grow and reach out further into our community. We have invested our cash reserves into the purchase of the building so next year there will be a focus on increasing cash reserves to secure the longevity of the charity. Recruitment and Training The declaration of trust states there must be a minimum of three of new trustees trustees, but there is no maximum number prescribed. New trustees are appointed by a resolution of the existing trustees as a body. Appropriate training in the duties and responsibilities of a trustee of a charitable organisation will be provided to any new trustee who may be appointed. Reserves policy The reserved fund represents the restricted and unrestricted funds from past operating results. The Trustees monitor the level of reserves and are satisfied the current level of reserves are sufficient to cover costs. Risk management The Trustees have assessed the major risks to which the Charity is exposed and are satisfied that systems are in place to mitigate any exposure to the major risks. The Trustees have approved the above report. M.A. TAYLOR Michael Taylor (Chair of Trustees and Senior Pastor) 1211212024 Date . Independent Examiners, Report to the Trustees of Faith Christian Centre UK We report on the accounts of the charity (number 1123217) for the year ended 29 February 2024 set out on pages 4 and 5. th Respective responsibilities of Trustees and Examiners The charity's trustees are responsible for the preparation of the accounts. The charit¢s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is our responsibility to: Examine the accounts under section 145 of the 2011 Act; Follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and State whether particular matters have come to our attention. Basis of independent examiner's statement Our examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view, and the report is limited to those matters set out in the statement below. Independent examiners, statement In connection with our examination, no matter has come to our attention: l. which gives reasonable cause to believe that, in any material respect. The requirements: To keep accounting records in accordance with section 130 of the 2011 Act; and To prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met. or to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. 1611212024 Helen Petherbridge T/A HAP Accountancy Ltd Chartered Certified Accountants 15 Church Street, Ilchester, BA22 8LN Date Faith Christian Centre UK Receipts and Payments Account th Year ended 29 February 2024 Res- tricted Funds Unres- tricted Funds 2024 Total Funds 2023 Total Funds Notes Income The Loading Bay Kickstart Tithes & offerings Income tax recovered Building Fund gifts Room Hire Grants Interest Other Total Incoming Resources 67,284 67,284 42,258 19,801 43,796 9,744 1,750 37,113 25,500 77 236 180,275 54,265 8,967 54,265 8,967 25,569 22,400 502 5,413 184,401 25,569 322,400 502 5,413 484,401 300,000 300,000 Expenditure Ministers support Salary Guest speaker honorariums Premises rent & rates Hospitality, function & event costs Light, heat & water Training & conferences Repair costs Travelling expenses Children's Church & youth expenses Kickstart costs The Loading Bay costs Membership & subscriptions Office and promotion costs Insurances Professional fees 32,760 65,257 1,360 12,691 2,916 15,177 1,527 2,161 3,346 418 32,760 65,257 1,360 12,691 2,916 15,177 1,527 2,161 3,346 418 29,420 18,279 16,577 2,549 15,709 1,205 4,205 5,084 81 10,337 39,804 666 11,274 1,418 2,099 32,654 792 11,842 1,397 1,040 32,654 792 11,842 1,397 1,040 Total Resources Expended 185,338 185,338 158,707 Net Income/(Outgoing) Resources Transfers between funds th Total funds 28 February 2023 th Total funds 29 February 2024 300,000 938 299,063 21,568 53,040 353,040 61,345 60,408 114,385 413,448 92,817 114,385 Statement of Assets and Llabilities at the end of 28 February 2024 Represented by: Tangible fixed assets Cash at bank- current accounts Cash at bank- building account Cash at bank- Storfa (loading bay account) Cash at bank- Pleo top up account 351,420 39,176 2,822 18,383 27 390,596 2,822 20,003 27 76,650 28,263 5,573 3,682 217 1,620 353,040 60,408 413,448 114,385 Faith Christian Centre UK Notes th Year ended 29 February 2024 2024 2023 l. Funds Restricted-Building fund 353,040 53,040 General 60,408 61,345 Total Funds 413,448 114,385 Buildings & Improvements Flxtures & Fittings Motor Vehicle Computer Equipment Total 2. Tangible Fixed Assets Cost st At l March 2023 Additions Disposals 53,219 312,115 29,490 1,830 3,750 3,373 89,832 313,945 th At 29 February 2024 365,334 31,320 3,750 3,373 403,777 Depreciation st At l March 2023 Charge for the year Eliminated on disposals 8,610 3,000 1,571 13,181 th At 29 February 2024 8,610 3,000 1,571 13,181 NBV At 29 February 2024 At 1st March 2023 th 365,334 53,218 22,710 20,880 750 1,802 1,802 390,596 76,650 750 Depreciation is not required under receipts and payments concept.