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← Redeemer Trust Ltd

2023-12-31-accounts

REDEEMER TRUST LTD

Report and Accounts

Year Ended 31 December 2023

Registered Company No: 6390847 Registered Charity No: 1125216

REDEEMER TRUST LTD

Report & Accounts for year ending 31/12/2023

Contents Page
General Information.............................................................................................. 2
Trustees Annual Report …..……………………………......................................... 3-10
Independent Examiner’s Report........................................................................... 11
Statement of Financial Activities.......................................................................... 12
Balance Sheet...................................................................................................... 13
Notes to the Accounts.......................................................................................... 14-17

REDEEMER TRUST LTD

Report & Accounts for year ending 31/12/2023

General Information

Incorporation Status Incorporated as a company limited by guarantee on 4 October 2007 Incorporated as a company limited by guarantee on 4 October 2007
under the name of Waterfront City Trust Ltd - Company registration
number: 6390847. Name changed to Redeemer Trust Ltd on
13/02/2015.
Charitable Status Registered with The Charity Commission on 28 July 2008 - charity
registration number: 1125216
Registered Address Redeemer Church
St Barnabas Terrace
Plymouth
Devon
PL1 5NN
Trustees/Trustees Toby Friend (Chair)
Rachael Carey
Claire Fitzmaurice (Resigned 09.05.23)
Nicola Kitto (Appointed 15.02.22 Resigned 09.01.23)
Steven Norris
Matthew Page (Appointed 25.02.24)
Rebecca Reckless (Appointed 28.02.23)
Benji Rogers (Resigned 09.06.24)
Cynthia Stokes (Appointed 28.02.23)
Grant Van Schalkwyk
Nicola Willis
Andy Wooldridge
Secretary Nicola Willis
Elders Grant Van Schalkwyk
Steve Norris
Toby Friend
Andrew Larkin
Simon Thomas
Bankers CAF Bank Ltd The Co-operative Bank
25 Kings Hill Avenue 8 Old Town Street
Kings Hill Plymouth
West Malling PL1 1DE
Kent
ME19 4JQ
Independent Examiner Philip Soutter FCCA, ATT
Wills Accountants Ltd
Chartered Certified Accountants
2 Endeavour House
Parkway Court
Longbridge Road
Plymouth
PL6 8LR

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REDEEMER TRUST LTD

Report & Accounts for year ending 31/12/2023

Trustees Annual Report

Purpose and Aims

Purpose

The purpose of Redeemer Trust Ltd is set out in the Objects contained in the Company’s Memorandum of Association which are:

Redeemer Trust Ltd is a registered charity (formally Waterfront City Trust Ltd) which incorporates the activities of Redeemer Church (formally Waterfront City Church) and which is affiliated with the Advance sphere of the Newfrontiers family of churches. The Church is in agreement with, and committed to, the vision of Advance – to plant and strengthen churches. We do this by restoring New Testament principles to today’s church, making disciples, training leaders, planting churches and spreading the Gospel to the nations.

Our Aims

Redeemer Church has for many years carried in its heart a vision for being a significant church that would not only resource and serve a city, but it would serve much wider. God has underlined that for us in recent years as he has spoken to us about:

The question for us was, “Where do we begin? How are we going to reach almost 300,000 people in this city with the good news about Jesus? Our answer was, "You take it one community at a time."

This gave birth to our "vision for communities", a desire to see small groups (life groups) planted in every PL code across the city. Communities within communities throughout the city that are committed to serving those communities and sharing not only their lives but also the good news about Jesus with those around.

But this was only to be the thin end of the wedge in terms of what God has in mind for us over the coming years. He began to highlight other communities into which we would see churches planted, like Saltash, Callington, Tavistock and Ivybridge. God was encouraging us to not just think 2yrs, 5yrs but think 10, think 15yrs.

We feel it is right to do this together, as we plant churches into these communities we have a shared vision, a shared mission and we share our resources, which includes finance, administration and other gifts people have that would benefit all of us widely, to enable us all to go further and faster than if we were doing this on our own. Because of this, we feel it is right to have a single Trust that all these

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REDEEMER TRUST LTD

Report & Accounts for year ending 31/12/2023

churches are a part of. At the moment, this includes Redeemer Church Plymouth and Redeemer Church Tavistock and Redeemer Church Saltash. We are not interested in building an empire but in planting churches.

Our aims fully reflect the purposes that the charity was set up to achieve.

Ensuring what we do delivers our aims

The Trustees have referred to the guidance issued by the Charity Commission on Public Benefit and have used this when planning and reviewing the activities of the trust. Each year we review our activities, and make plans for the year ahead, to ensure that our aims are being met so that we continue to fulfil our charitable purpose for the public benefit.

How our activities deliver public benefit

Our main activities and the communities and people we have been able to help are summarised below. All our charitable activities in the UK focus on serving those within the communities in our area and as we identify the needs, we can respond meaningfully with practical, emotional and spiritual help and support. Our charitable activities abroad are focused on supporting Advance in their church planting and missionary work. These activities are undertaken to further our charitable purposes for the public benefit.

Review of Activities

This year we have seen a lot of growth in all aspects of the charity, we have more people attending on a Sunday morning than ever before, which means we have needed more volunteers, and we have more staff than ever before. We have run our Theology conference and had Bruce Ware over from the States to speak, we had 50 people there from all over the country, and we ran our first Equipped for Mission Conference where we had 4 speakers from across the country helping and equipping people to share their faith in Jesus. In the Summer we were able to send 12 young people and some youth leaders to Newday a youth conference held in Norfolk each year gathering around 8000 young people. In July we put on a Comedy Night with Andy Kind, where we had about 90 guests.

Sunday Mornings

We have three churches that would normally meet every Sunday, one in Plymouth, one in Tavistock and one in Saltash.

In Plymouth we were having 3 services back-to-back with children’s and youth work during the middle service as we have had standing room only on numerous occasions; but in November we moved our Sunday service to Plymouth Albion, where we can meet altogether in one service. We continue to have had visitors on most Sundays throughout the year and this had led to more people joining the church and becoming Christians. Our average attendance in Plymouth has grown to around 235 and we baptised 4 people during the year, and we are getting just under 100 people to our monthly prayer meeting. We also ran Church in the Park with inflatables and a BBQ after the service, which saw many local people engage with us.

In Tavistock we continue to meet at Whitchurch CP School. We run children’s and youth work during the service. Our average attendance in Tavistock has been around 55.

In Saltash we have grown very quickly with more people joining us each month. We continue to meet at The Core. Our average attendance in Saltash is around 55 and we have baptised 4 people during the year.

Community

Church life is not just about an hour or two on Sunday. We also have 18 community groups (known as

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REDEEMER TRUST LTD

Report & Accounts for year ending 31/12/2023

life groups) that meet during the week across the city and in Tavistock, Saltash and Ivybridge. This is where we share our lives together, encouraging each other in our faith, looking after each other and making a difference in our communities.

Some examples of where we have served Plymouth, Tavistock and Saltash this year:

In Plymouth we have continued to collect items for our Boxes of Hope, which provide food and basic toiletries in a box or rucksack for those who need it. We have teamed up with Plymouth Domestic Abuse Service to provide these boxes for them along with Christmas and Easter presents for the children. We have also been donating food to the local foodbanks and the Red Cross who are supporting asylum seekers and their families in the city.

We have also continued our partnership with Vineyard Church, providing a Uniform store which collects good quality old school uniforms and offers them for free, to anyone who needs uniform for their children. We offered a ‘Click and Collect’ service throughout the year and since the summer have a permanent shop in the city centre. During 2023 we clothed 3044 families with 4676 children, which is about 4.971 Tons of uniform.

In Tavistock we run a Toddler group in Abbey Chapel, this has been a great opportunity for families in Tavistock to come and meet other people who have young children at the same stage in life and make some lasting friendships and support networks.

The Tavistock church also joined in with the Dickensian evening where people dressed up as Dickensian characters, gave out over 300 mince pies, sweets, had a lucky dip where 150 prizes given to kids.

The Saltash Church organised the Cardboard Boat Race and the Paddle Board Race at the Saltash regatta again this year with many entries and over 500 people watching from the shore this was an excellent time serving the community.

At Christmas the Saltash Christmas Festival Committee asked the Church to run an event that would explain the real meaning of Christmas, so they organised a Treasure Hunt along the main street with pictures in windows of shops that had to be found and recorded. Then prizes were given out if all were found. We also hosted the pop-up Christmas Carol service in Saltash, with Saltash Radio and children from the local schools.

The three churches together have helped 19 people/couples/families out with payments from our social fund. This is a fund that alleviates poverty and helps people get out of debt.

Regions Beyond

Our connection with Advance Movement (part of the New Frontiers network of churches) is going well. We have made many new friends and they continue to help us think about what we do, and how and why we do things. This had led us to questioning our strategies and changing them as we see fit in order to advance the Gospel.

We have continued to strengthen our links in India and the Philippines, being able to help with work in those countries bringing people out of poverty, giving them some training, and sharing the gospel with them. We are also exploring a link with a church in Thailand.

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REDEEMER TRUST LTD

Report & Accounts for year ending 31/12/2023

Structure, Governance and Management

Organisational Structure

The day-to-day running of the charity is done under the operating name of Redeemer Church (RC). The policy and operating decisions of the church rest with the Elders who meet regularly to monitor and plan the activities. We currently have five Elders (three of which are also Trustees): There are four Elders in Plymouth - Grant Van Schalkwyk and Simon Thomas who are employed full time by the Church and Toby Friend and Andrew Larkin who are employed part time; and one Elder in Tavistock – Steve Norris who is employed full time by the church. The power of appointment and removal of Trustees is vested in the church Elders.

Trustee Induction and Training

Any new Trustee appointed by the Elders will be provided with access to the following documents:

Grant-Making Policy

Grants and gifts to external organisations and individuals are considered on the basis of need and fulfilment of the charitable objectives. There are no upper or lower limits of support.

Risk Management

General Risk

All major insurable risks are subject to the normal churches’ and employers’ insurance. The Trustees undertake periodic reviews to identify, mitigate and manage all significant risks arising in the normal course of the trust’s activities.

The Trustees have reviewed the risks to which a small charity operating with few employees is exposed. Appropriate procedures are in place to identify, monitor and review these risks on a regular basis.

Going Concern

Financially we have seen an upturn in our regular donations received. This due to people joining us and starting to give regularly. In addition to the regular giving, we have seen an increase in people’s giving into our Social Funds, these are funds we use to help support people through hard times.

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REDEEMER TRUST LTD

Report & Accounts for year ending 31/12/2023

In order for the Trustees to monitor the financial health of the charity, they are issued with monthly management reports. These comprise a) Income and Expense to date against Budget, b) Income graphs showing breakdown and trend over the last 24 months, and c) Cash Flow forecast for the next 6 months.

The Trustees are therefore confident of the immediate future of the charity given its strong financial position moving out of this COVID period and the financial information they are regularly updated with.

Financial Review

General Fund

Total unrestricted voluntary income during the year was £361,231 (2022: £362,760). The income is generated predominantly from Church membership (excluding the income from conferences, events and other sources).

The total value of unrestricted resources expended was £362,527 (2022: £345,023), as detailed in Notes 1-7 to the Accounts. Within this total, Activity costs represent the greatest element (£239,066), as it includes employment costs for our pastoral staff of £199,667, an increase on 2022 due to increase in staff hours (2022: £148,483). The cost of conferences and training decreased to £15,324 (2022: £20,390).

The second largest element is Administration which saw a slight decrease to £45,440 (2022: £54,761), the administration wages bill was £31,713 (2022: £40,262). The third largest element is Accommodation costs which increased to £42,544 (2022: £39,145), this comprised £8,756 on hiring venues for our Sunday morning meetings; £22,236 on running costs for St. Barnabas and the Tavistock office; £9,196 on mortgage interest payments and £2,356 on hiring venues for other meeting. The fourth largest element is Mission and Grants which decreased to £12,490 (2022: £40,908).

The Tavistock church continues to do well. General Fund Income has grown to £78,409 (2022: £71,577). Expenses were £85,987 (2022: £78,431) The shortfall was taken from their reserves leaving them with £10,429.

We continue to save regularly into the designated Church Plant Fund to support and develop our church planting activities, especially as we are looking to plant more churches in the next year or two. At the end of year, the balance was £12,034 (2022: £3,000).

The net movement in total Unrestricted Funds for the year was a surplus of £11,819 (2022: surplus of £10,623), increasing the balance of Unrestricted Funds at 31 December 2023 to £120,237 (2022: £108,418). Of these, Designated Funds comprise £49,174 (2022: £39,444) leaving a balance of £71,063 which is allocated to Redeemer Plymouth’s operational reserves as per our Reserves Policy (Target £50,000). Redeemer Tavistock also has their own Reserves Fund and have currently got £10,429 (target £19,000). Redeemer Saltash are just starting to have their own Reserves Fund and currently have £6,689 (target £15,000). Details of the Designated and Restricted funds and their purposes are listed below:

Designated Funds

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REDEEMER TRUST LTD

Report & Accounts for year ending 31/12/2023

Restricted Funds

Total Restricted Fund income during the year was £120,596 (2022: £34,553), with expenses of £59,844 (2022: £44,641), leaving a year-end balance of £100,638 (2022: £39,886) as detailed in Note 14 to the Accounts. Details of the Restricted funds and their purposes are listed below:

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REDEEMER TRUST LTD

Report & Accounts for year ending 31/12/2023

Mission and Grants

A total of £12,635 was given away (2022: £41,358), £0 for overseas mission work (2022: £4,450) and £12,635 to Individuals and Institutions (2022: £36,908), See note 4.

Reserves Policy and Future Commitments

The Trustees have examined the financial risks and have established a Reserves Policy to maintain in principle a level of free reserves equivalent to three months’ average expenditure, currently £84,000, subject to such reserves not being required to sustain activities of a higher priority. As the trust grows with new churches started this cost is shared between the different churches proportionately. To this end Tavistock has their own Reserves fund which currently has £10,429 (Target £19,000) and Plymouth has an operational reserve of £71,063 (Target £50,000), Saltash also have £6,689 (Target £15,000) They also acknowledge that should anything catastrophic happen to the charity that forced it to close, the Intrinsic value of the building is such that there would be sufficient collateral raised from the sale of the building to repay the mortgage and cover other costs.

At present, the Church has the following commitments:

Commitments to be met out of current income:

Commitments to be met out of restricted funds:

The total value of all reserves at the year-end were £220,875 (2022: £148,304) of which £100,638 is restricted (2022: £39,886). All liquid funds are held in cash at bank, these balances at 31 December 2023 amounted to £153,536 (2022: £90,387).

Therefore, these funds, plus anticipated future income, are considered to be sufficient to meet the foreseeable needs of the Church.

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REDEEMER TRUST LTD

Report & Accounts for year ending 31/12/2023

Responsibilities of Directors/Trustees

The Trustees (who are also Directors of Redeemer Trust Ltd for the purpose of company law) are responsible for preparing the Trustees’ Annual Report and the Financial Statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

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

Small company provision

This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.

Approval

This report was approved by the Directors/Trustees on 25/09/2024 and signed on their behalf by:

Toby Friend 25 Sep 2024 _________ ___ Charles W T Friend - Director/Chair of Trustees Date

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REDEEMER TRUST LTD

Report & Accounts for year ending 31/12/2023

Independent Examiner’s Report to the Trustees of REDEEMER TRUST LTD

I report to the charity trustees on my examination of the accounts of Redeemer Trust Ltd for the year ended 31 December 2023 which are set out on pages 1 to 16.

Responsibilities and basis of report

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

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the company’s gross income exceeded £250,000 I confirm that I am qualified to undertake the examination because I am a member of Association of Chartered Certified Accountants, which is one of the listed bodies in section 145 of the Charities Act 2011.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or

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

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed:

Date:

25 Sep 2024

Philip W Soutter FCCA ATT

For and on behalf of: Wills Accountants Limited

Chartered Certified Accountants 2 Endeavour House Parkway Court Longbridge Road Plymouth PL6 8LR

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REDEEMER TRUST LTD

Statement of Financial Activities

Year ended 31 December 2023

INCOMING RESOURCES
Voluntary Income - Gift aid
Voluntary Income - Non gift-aid
Tax Reclaimed
Income from Charitable Activity
Grants Received
Other Incoming Resources
TOTAL INCOMING RESOURCES
RESOURCES EXPENDED
Charitable Activities
Activity costs
Conferences & Training
Mission & Grants
Accommodation Costs
Total Charitable Activities
Administration Costs
Other resources expended
TOTAL RESOURCES EXPENDED
NET INCOMING (OUTGOING) RESOURCES
BEFORE TRANSFERS
Transfers between funds
NET MOVEMENT IN FUNDS
FUND BALANCES:
At 31 December 2022
Net movement in funds
At 31 December 2023		 Notes Unrestricted
Restricted
Total Funds
Total Funds
Funds
Funds
2023
2022
2
3
4
5
6
7		 £
£
£
£
190,365
63,853
254,218
191,545
102,599
23,775
126,374
119,992
51,769
11,309
63,078
38,107
3,796
11,514
15,310
33,304
400
10,145
10,545
10,055
12,302
12,302
4,310
361,231
120,596
481,827
397,313
239,066
9,780
248,846
192,681
15,324
10,793
26,117
54,575
12,490
145
12,635
41,358
42,544
25,831
68,375
39,145
309,424
46,549
355,973
327,759
45,440
180
45,620
54,894
7,663
7,663
7,011
362,527
46,729
409,256
389,664
(1,296)
73,867
72,571
7,649
13,115
(13,115)
0
0
11,819
60,752
72,571
7,649
108,418
39,886
148,304
140,655
11,819
60,752
72,571
7,649
120,237
100,638
220,875
148,304

All amounts relate to continuing activities.

There have been no recognised gains or losses, other than those included in the results for the period, and all income and expenditure has been accounted for on a historical basis.

The movement of funds from Resticted to Unrestricted is due to salaries being part paid from General and Lopwell Barn Staff Fund and a one off payment to cover a historic bill for Building work.

The Notes on pages 14 to 17 form part of these Accounts

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REDEEMER TRUST LTD

Balance Sheet

At 31 December 2023

FIXED ASSETS
Property - St Barnabas Church
Equipment, Fixtures & Fittings
CURRENT ASSETS
Debtors
Cash at Bank and in Hand
CREDITORS
Liabilities falling due within one year
NET CURRENT ASSETS
NET ASSETS
LONG TERM LIABILITIES
Creditors: Long Term
TOTAL ASSETS LESS TOTAL LIABILITIES
FUNDS
Unrestricted Funds
General Fund (Plymouth Reserves)
Plymouth Social Fund
Church Plant Fund
Hope Initiative
Counselling Course
Lopwell Barn
Warm Winter Café
Tavistock Reserves
Tavistock Social Fund
Tavistock Advance Global
Saltash Reserves
Saltash Social Fund
Sabbatical Savings - Plymouth
Sabbatical Savings - Tavistock
Sabbatical Savings - Saltash
Plymouth Building Maintenance Fund
Restricted Funds
Plymouth Building Fund
Conferences
Building Fund
Community Engagement Fund
Lopwell Barn Staff
Acts 435
Marriage Matters
TOTAL FUNDS		 Notes Unrestricted
Restricted
Total Funds
Total Funds
Funds
Funds
2023
2022
8
9
10
11
12
13
14		 £
£
£
£
125,000
30,534
155,534
155,534
24,094
24,094
15,754
149,094
30,534
179,628
171,288
3,685
3,685
3,080
83,432
70,104
153,536
90,387
87,117
70,104
157,221
93,467
14,185
14,185
11,163
72,932
70,104
143,036
82,304
222,026
100,638
322,664
253,592
101,789
0
101,789
105,288
120,237
100,638
220,875
148,304
Unrestricted
Restricted
Total Funds
Total Funds
Funds
Funds
2023
2022
£
£
£
£
71,063
71,063
68,974
1,069
1,069
1,920
12,034
12,034
3,000
182
182
510
5,110
5,110
6,431
6,061
6,061
2,786
378
378
2,635
10,429
10,429
18,063
2,203
2,203
3,296
1,016
1,016
512
6,689
6,689
0
803
803
0
2,000
2,000
0
600
600
0
600
600
0
0
0
291
120,237
0
120,237
108,418
30,534
30,534
30,534
1,421
1,421
329
67,510
67,510
0
1,160
1,160
940
13
13
8,005
0
0
0
0
0
78
0
100,638
100,638
39,886
120,237
100,638
220,875
148,304

Trustees statements required by the Companies Act 2006 for the year ended 31 December 2023

In approving these financial statements as trustees of the company we hereby confirm:

a) that for the year stated 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 ended 31 December 2023.

c) that we acknowledge our responsibilities for:

(1) ensuring that the company keeps proper accounting records which comply with section 386 of the Companies Act 2006, and

(2) preparing financial statements which give a true and fair view of the state of affairs of the company as 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 comply with the provisions of the Companies Act relating to financial statements, so far as applicable to the company.

These financial statements are prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS 102 SORP.

The financial statements were approved by the board on 25/09/2024 and signed on its behalf by:

________ Toby Friend Charles W T Friend - Director/Chair of Trustees

Company number: 6390847 Charity number: 1125216

The notes on pages 14-17 form part of these accounts.

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REDEEMER TRUST LTD Notes to the Accounts

Year ended 31 December 2023

1 Basis of preparation

1 General Information

The Charity is a private company limited by guarantee registered in England. The address of the registered office is Redeemer Church, St. Barnabas Terrace, Plymouth, Devon, PL1 5NN.

1.2 Basis of Accounting.

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

1.3 Statement of Compliance

The accounts have been prepared in accordance with: the Statement of Recommended Practice; Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Charities Act 2011.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. They are prepared in sterling which is the functional currency of the charity and rounded to the nearest £. The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.

1.4 Accounting Policies

The Church maintains five distinct categories of funds:

2 Activity Costs
Employment & Worker's costs
Travel & subsistence & hospitality
Visiting ministry costs
Study materials
Church Meetings
Ministries for Children, Youth & Young People
Outreach & Evangelism
Other support costs
Employee Information
Employees at year end - full time
Employees at year end - part time
No staff received salaries of more than £60,000 per annum.
Leader's meetings costs		 Unrestricted
Restricted
Total Funds
Total Funds
Fund
Funds
2023
2022		 Unrestricted
Restricted
Total Funds
Total Funds
Fund
Funds
2023
2022
£
£
199,667
276
1,904
5,709
1,010
12,942
2,571
10,084
9,780
4,903
£
£
199,667
148,483
276
39
1,904
1,875
5,709
4,350
1,010
699
12,942
7,520
2,571
1,969

19,864
22,321
4,903
5,425
239,066
9,780		 248,846
**192,681 **
Number
Number
4
4
6
6

Payments to Trustee and related parties

The Trustees received no remuneration or benefit for their services as Trustees, nor any person connected to them. The salary and pension payments made to Mr G Van Schalkwyk and Mr S Norris were made in their capacity as Elders and Directors overseeing the day to day activities of the Trust, not as Trustees. The salary and pension payments made to Mr A Wooldridge were made in his capacity as Finance Manager, not as a Trustee. The salary and pension payments made to Mr T Friend were made in his capacity as Operations Manager, not as a Trustee. The salary and pension payments made to Mrs S Van Schalkwyk were made in her capacity of Administrator.

During the year, the gross salary paid to full-time staff was £133,512, of which £42,372 was paid to Mr G Van Schalkwyk (2022: £42,372); £33,444 to Mr S Norris (2022: £33,444); £28,848 to Mr J White (2022: £9,620) and £28,848 to Mr S Thomas (2022: £4,810).

Trustee Donations

The total aggregate donations made to the trust during the year by Trustees and related parties came to £60,752 (2022: £64,728)

Page 14

REDEEMER TRUST LTD

Notes to the Accounts (cont.)

o
ea
3		 tes to the Accounts (cont.)
r ended 31 December 2023
Conferences & Training
Conferences
Training
Mission & Grants
General Fund:
Grants to institutions:
Total grants
Support for overseas mission activity
Total - General Fund
Restricted Funds:
Total grants
Total - Restricted Funds
Total
Accommodation Costs
Sunday meetings
Office premises / Church Building
Mortgage Interest payments
Other venue & Room Hire
Administration Costs
Telephone
Printing, Postage, Stationery and other office costs
Copier lease and copies
Membership subscriptions
Insurance
Web domain & hosting
Computer lease & Software
Bank & Credit Card Charges
Wages
Other Resources Expended
Independent Examiner's fees
Legal & Professional fees
Health & Safety costs
Sundry Expenses
Depreciation
Loss on disposal of asset + Bad Debt write-off
Advertising & design
Grants to institutions:
Social Fund: Grants to individuals
Social Fund: Grants to individuals
Support for overseas mission activity		 Unrestricted
Restricted
Fund
Funds		 Unrestricted
Restricted
Fund
Funds		 Total Funds
Total Funds
2023
2022		 Total Funds
Total Funds
2023
2022
£
£
10,296
9,887
5,028
906		 £
£
20,183
46,773
5,934
7,802
4
15,324
10,793		 26,117
54,575
2023 2022
5 Number
£
5
6,750
18
5,740		 Number
£
9
18,950
28
17,508
23 12,490 37
36,458

4,450
1 1
3
12,490 40,908

145		 450
1
145		 3 450
41
145 450
24
12,635
41,358
Unrestricted
Restricted
Funds
Funds		 Total Funds
Total Funds
2023
2022
£
£
8,756
15,600
22,236
10,231
9,196
2,356		 £
£
24,356
5,130
32,467
24,688
9,196
6,892
2,356
2,435
6
42,544
**25,831 **		 68,375
39,145
2,516
1,999
1,743
1,854
521
905
1,161
2,798
230
180
31,713		 2,516
1,851
1,999
1,984
1,743
2,329
1,854
2,086
521
2,332
905
176
1,161
1,141
2,798
2,407
410
326
31,713
40,262
7
45,440
180		 45,620
54,894
786
13
631
10
6,223		 786
822
13
23
631
85
10
0
6,223
6,053
0
28
7,663
0		 7,663
7,011

Year ended 31 December 2023

Page 15

REDEEMER TRUST LTD

Notes to the Accounts (cont.)

Year ended 31 December 2023

Year ended 31 December 2023
Fixed Assets
8
Property
St Barnabas Church (Purchased Oct 2018)
Legal Fees
9
Equipment, Fixtures & Fittings
Cost
As at 31 December 2022
Additions
Disposals
As at 31 December 2023
Depreciation
As at 31 December 2022
Charge for year
Disposals
As at 31 December 2023
Net book value as at 31 December 2023
Net book value as at 31 December 2022
10
Debtors
Customers
Prepayments
Other Debtors
11
Creditors
Taxation & Social Security
Accruals
Trade Creditors
Other Creditors
Short Term Liability - 1yr Mortgage
12
Long Term Liabilities
Mortgage		 Unrestricted
Restricted
Total Funds
Total Funds
Funds
Funds
2023
2022
£
£
£
£
125,000
25,000
150,000
150,000
5,534
5,534
5,534
8
9
10
11
12
125,000
30,534
155,534
155,534
Unrestricted
Restricted
Total Funds
Total Funds
Funds
Funds
2023
2022
£
£
£
£
43,063
43,063
34,762
14,564
14,564
8,301
0
0
0
57,627
0
57,627
43,063
(27,309)
(27,309)
(21,256)
(6,224)
(6,224)
(6,053)
0
0
0
(33,533)
0
(33,533)
(27,309)
24,094
0
24,094
15,754
15,754
0
15,754
Unrestricted
Restricted
Total Funds
Total Funds
Funds
Funds
2023
2022
£
£
£
£
0
2,576
3,675
3,675
474
10
10
30
3,685
0
3,685
9,048
4,469
4,469
754
1,639
1,639
1,431
1,952
1,952
3,143
2,429
2,429
2,163
3,696
3,696
3,672
14,185
0
14,185
11,163
101,789
101,789
105,288
101,789
101,789
105,288

Page 16

REDEEMER TRUST LTD

Notes to the Accounts (cont.)

Year ended 31 December 2023

13 Unrestricted Funds
General Fund (Plymouth Reserves)
Designated Funds
Social Fund
Church Plant Fund
Plymouth Building Maintenance Fund
Hope Initiative Fund
Counselling Course Fund
Lopwell Barn Fund
Warm Winter Café
Marriage Matters
Tavistock Reserves Fund
Tavistock Social Fund
Tavistock Advance Global Fund
Saltash Reserves Fund
Saltash Social Fund
Sabbatical Savings - Plymouth
Sabbatical Savings - Tavistock
Sabbatical Savings - Saltash
Restricted Funds
Plymouth Building Capital Fund
Conferences Fund
Building Fund
Marriage Matters
Community Engagement Fund
Lopwell Barn Staff Fund
Acts 435 Fund
TOTALS
TOTALS		 2022 Funds
C/Fwd Total
B/Fwd
Income
ExpenseTransfersIn(Out)
2023
14
£
£
£
£
£
68,974
349,241
(344,684)
(2,468)
71,063
1,920
50
(3,301)
2,400
1,069
3,000
850
0
8,184
12,034
291
0
(1,038)
747
0
510
20
(348)
0
182
6,431
0
(1,321)
0
5,110
2,786
10,125
(6,850)
0
6,061
2,635
400
(2,399)
(258)
378
0
480
(527)
47
0
18,063
0
0
(7,634)
10,429
3,296
60
(1,657)
504
2,203
512
0
0
504
1,016
0
0
0
6,689
6,689
0
5
(402)
1,200
803
0
0
0
2,000
2,000
0
0
0
600
600
0
0
0
600
600
108,418
361,231
(362,527)
13,115
**120,237 **
2022 Funds
C/Fwd Total
B/Fwd
Income
ExpenseTransfersIn(Out)
2023
£
£
£
£
£
30,534
0
0
0
30,534
329
11,964
(10,872)
0
1,421
0
98,487
(25,854)
(5,123)
67,510
78
0
(78)
0
0
940
10,000
(9,780)
0
1,160
8,005
0
0
(7,992)
13
0
145
(145)
0
0
39,886
120,596
(46,729)
(13,115)
100,638

The tax recoverable on the gift aid income in 2023 was applied to the General Fund for unrestricted giving, and to the relevant Restricted Fund for restricted giving in that year.

Page 17

Issuer Wills Accountants Limited Document generated Wed, 25th Sep 2024 13:27:41 BST Document fingerprint 1393c924d060989e3de491b5f0d06f54

Parties involved with this document

Document processed

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Wed, 25th Sep 2024 14:15:47 BST Toby Friend - Signer (e90bad32c18f3e55a9a5ff90ea61533b) Wed, 25th Sep 2024 15:07:55 BST Phil - Signer (00b947ebf89f9c85b0c87e8d5d55e6e0)

Audit history log

Date

Wed, 25th Sep 2024 15:07:55 BST Wed, 25th Sep 2024 15:07:55 BST Wed, 25th Sep 2024 15:07:55 BST Wed, 25th Sep 2024 15:04:14 BST Wed, 25th Sep 2024 14:15:48 BST Wed, 25th Sep 2024 14:15:47 BST Wed, 25th Sep 2024 14:15:47 BST Wed, 25th Sep 2024 14:15:47 BST Wed, 25th Sep 2024 14:14:12 BST Wed, 25th Sep 2024 14:13:41 BST Wed, 25th Sep 2024 14:00:40 BST Wed, 25th Sep 2024 14:00:39 BST Wed, 25th Sep 2024 13:28:32 BST

Wed, 25th Sep 2024 13:27:41 BST Wed, 25th Sep 2024 13:27:41 BST

Action Phil viewed the envelope (62.232.17.186) This envelope has been signed by all parties (62.232.17.186) Phil signed the envelope (62.232.17.186) Phil viewed the envelope (62.232.17.186) Document emailed to party email (13.42.104.244) Toby Friend viewed the envelope (81.158.116.251) Sent the envelope to Phil for signing (81.158.116.251) Toby Friend signed the envelope (81.158.116.251) Toby Friend viewed the envelope (81.158.116.251) Toby Friend opened the document email. (104.28.86.99) Document emailed to party email (3.10.178.184) Sent the envelope to Toby Friend for signing (62.232.17.186) Document generated with fingerprint 62de58b2577e30b77c3390ac6ccca1e3 (62.232.17.186) Document generated with fingerprint 1393c924d060989e3de491b5f0d06f54 (62.232.17.186) Envelope generated by Gemma Logan (62.232.17.186)

Issuer

Wills Accountants Limited

Document generated Wed, 25th Sep 2024 15:09:35 BST

Document fingerprint 00ddeabe4d2bb1cb2206408a54af46ca

Parties involved with this document

Document processed

Party + Fingerprint

Wed, 25th Sep 2024 15:16:20 BST Toby Friend - Signer (8fab63d4c5ddd82e883aea1f019b1054)

Audit history log

Date

Action

Wed, 25th Sep 2024 15:09:36 BST Wed, 25th Sep 2024 15:09:36 BST

Wed, 25th Sep 2024 15:15:41 BST Wed, 25th Sep 2024 15:15:41 BST Wed, 25th Sep 2024 15:15:54 BST Wed, 25th Sep 2024 15:16:02 BST Wed, 25th Sep 2024 15:16:20 BST Wed, 25th Sep 2024 15:16:20 BST Wed, 25th Sep 2024 15:16:21 BST

Envelope generated by Gemma Logan62.232.17.186 Document generated with fingerprint 00ddeabe4d2bb1cb2206408a54af46ca62.232.17.186 Sent the envelope to Toby Friend for signing62.232.17.186 Document emailed to party email13.40.49.128 Toby Friend opened the document email.104.28.42.118 Toby Friend viewed the envelope81.158.116.251 Toby Friend signed the envelope81.158.116.251 This envelope has been signed by all parties81.158.116.251 Toby Friend viewed the envelope81.158.116.251