HOPE COMMUNITY CHURCH (WYMONDHAM) (A COMPANY LIMITED BY GUARANTEE)
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
| Company Registration Number | 6715714 |
|---|---|
| Charity Registration Number | 1126428 |
HOPE COMMUNITY CHURCH (WYMONDHAM) (A COMPANY LIMITED BY GUARANTEE)
CONTENTS
Page 1 Independent Examiners Report Pages 2 - 5 Trustees Report Page 6 Statement of Financial Activities Page 7 - 8 Balance Sheet Page 9 - 14 Notes to the Financial Statements
Independent Examiner's Report to the Trustees of Hope Community Church (Wymondham) Ltd, a company limited by guarantee
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 July 2024.
Responsibilities and basis of report
As the trustees of the charitable company (who are also the directors 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 .
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, | report in respect of my examination of your charity’ s accounts as carried out under Section 145 of the Charities Act 2011 (‘the 2011 Act’ ). In carrying out my examination I have followed the directions given by the Charity Commission under Section 145 (5) (b) of the 2011 Act.
Independent Examiner's Statement
Since your charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I can confirm that I am qualified to undertake the examination because I am a registered member of ICAEW which is one of the listed bodies.
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:-
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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
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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
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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
This report is made solely to the company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's Trustees those matters I am required to state to them in an Independent Examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report.
Joanne Fox BA FCA Chartered Accountant BW Audit Ltd Chartered Accountants 10 Fairland Street Wymondham Norfolk NR18 0AW
Date: 26 April 2025
1
HO PE COMMUNITY CHURCH (WYMONDHAM) (A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER
1126428
COMPANY REGISTRATION NUMBER
6715714
START OF FINANCIAL PERIOD
1 August 2023
END OF FINANCIAL YEAR
31 July 2024
TRUSTEES AT 31ST JULY 2024
Grantley Watkins (resigned 31 January 2024) Kevin Smith
Mark Bullen
Alice Lynch Michael Day (resigned 30 September 2024) Sheila Greenacre
Michael Mills (appointed 22 April 2024)
Edward Clarke (appointed 1 July 2024)
REGISTERED ADDRESS
Ayton House Ayton Road Wymondham Norfolk NR18 0QJ
DATE OF INCORPORATION GOVERNING DOCUMENT
6 October 2008
Memorandum and Articles of Association
2
HOPE COMMUNITY CHURCH (WYMONDHAM) (A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st July 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
Structure, Governance and Management
Governing Document
The charity is controlled by its governing document, the Memorandum and Articles of Association and constitutes a limited company, limited by guarantee, incorporated on 6 October 2008.
Recruitment and appointment of new trustees
The appointment of trustees is governed by Section 4 of the Articles of Association.
The trustees shall not be subject to retirement by rotation and the term of office shall continue until he/she retires or is removed in accordance with the relevant provisions of the Articles of Association.
Organisation
The company operates primarily in Norfolk but has links with churches both in the UK and internationally. Church membership is voluntary and free.
The company is overseen by a board of trustees, some of whom are Elders of the church. The Elders are responsible for the spiritual direction of the church. The trustees meet regularly to review the finances, risk management, legal issues and other matters affecting the charitable company, including the remuneration of staff.
Objectives
The company is a registered charity and its objectives are:-
a) to advance the Christian faith (in accordance with the statement of beliefs set out in the Articles of Association) in such ways and in such parts of the United Kingdom or the world as the trustee directors may from time to time think fit
(b) to relieve sickness and financial hardship and to promote and preserve good health by the provision of funds, goods or services of any kind, including through the provision of counselling and support in such parts of the United Kingdom or the world as the trustee directors may from time to time think fit
(c) to advance education in such ways as and in such parts of the United Kingdom or the world as the trustee directors may from time to time think fit
Activities and achievements
Attendance during the current year averaged 300 adults and children on a Sunday morning with over 600 adults and children considering Hope their church.
A full range of activities have been provided for all ages including worship, teaching and ministry. The congregation is .
other. This is a valuable opportunity to build a sense of community in a way that the larger Sunday morning gatherings cannot.
Our c and youth work continues and we are seeing good numbers of children and youth attending regularly.
3
HOPE COMMUNITY CHURCH (WYMONDHAM) (A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024
The School of Supernatural Life, gathering students from Hope Community Church and a number of churches across Norfolk continued to operate. The purpose of the school is to equip people to operate in all areas of life with a supernatural lifestyle.
Hope Community Church continues to support the work of Hub Community Project and the community building is made available for the work of that charity. Hub Community Project offers a number of outreach projects to the community namely support groups for carers, the lonely & isolated, fun & food in school holidays for children who would receive free school meals during term time and a Community Food Shop where people can access free and discounted food. The church also hires out rooms at its community building to other organisations in the community.
The work of Hoppers toddler group continues to attract good numbers and in a response to recognised needs now offers twice monthly sessions for children with special educational needs and disabilities.
Weekly meetings continue to take place at our Thetford site and fortnightly meetings at Long Stratton since September 2024. The activities at these sites mirror those taking place at the Wymondham site. services where all congregations come together.
The church continues to build relationships with Catalyst as the primary apostolic relationship.
In response to the growing number of children and youth attending the Wymondham site the church submitted planning permission to alter the configuration of the first floor of the building to increase capacity in the existing rooms. Planning permission was granted and building work commenced in September 2023. The church congregation were asked to contribute to the full expected cost and the total cost of the building work, completed in October 2023, was met by donations from the congregation.
FINANCIAL REVIEW
Reserves Policy and Going Concern
The trustees have considered the level of reserves they wish to retain, appropriate to the company's needs. This is based on the company's size and the level of financial commitments held. The trustees aim to ensure the company will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. It is their policy to maintain unrestricted reserves at a level which equates to three months expenditure being £93,000. The trustees will endeavour not to retain reserves unnecessarily.
Operating review
The trustees acknowledge the financial position and outcome of this year whereby an overall surplus of £75,412 has been generated. Unrestricted funds carried forward at 31 July 2024 were £ 394,815 as shown in the balance sheet.
Principal Funding Sources
The principal funding source for the year was offerings from the church members.
RISK ASSESSMENT
The trustees consider the major risks to which the company is exposed and identifies the appropriate mitigation. To this
Strict child protection and vulnerable adult safeguarding policies are implemented, all volunteers who work with children or vulnerable adults are subject to Disclosure & Barring Service checks and must comply with detailed guidelines for the care of children and vulnerable adults.
In order to ensure the safety of the church members and general public, a team of stewards operate during Sunday meetings. A fire evacuation plan has been drawn up.
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HOPE COMMUNITY CHURCH (WYMONDHAM) (A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024
The trustees believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems will provide sufficient resources in the event of adverse conditions. A system of financial controls exists
PUBLIC BENEFIT
are for the public benefit. Details of how the company has achieved this are provided in the trustees report. The trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the company should undertake.
Statement of trustee ’s responsibilities:
The trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the t rustee’s Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which gives a true and fair view of the state of affairs of the company and of the profit or loss of the company during that period. In preparing those financial statements the trustee directors are required to:
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(i) select suitable accounting policies and then apply them consistently,
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(ii) observe the methods and principles of the Charities SORP (FRS102),
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(iii) make judgements and estimates that are reasonable and prudent,
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(iv) state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements,
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(v) prepare financial statements on a going concern basis unless it is inappropriate to presume that the company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006.
They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In preparing this report the trustees have taken advantage of special exemption applicable to small companies conferred by section 477 of the Companies Act 2006.
I approve the attached statement of financial activities and balance sheet for the year ended 31July 2024 and confirm that I have made available all information necessary for its preparation.
Date 25 April 2025
A Lynch Trustee
5
HOPE COMMUNITY CHURCH (WYMONDHAM) LIMITED (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTVITIES AT 31 JULY 2024 INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT
| Note INCOME AND ENDOWMENTS FROM Voluntary Income 2 Charitable Activities 3 Total Income and Endowments EXPENDITURE ON Charitable Activities 4 Net Income/(Expenditure) Net Movement in Funds RECONCILIATION OF FUNDS Total funds brought forward Total funds carried forward |
£ £ £ 2024 Unrestricted Funds Restricted Funds Total Funds 384,591 13,864 398,455 50,544 0 50,544 435,135 13,864 448,999 344,807 29,050 373,857 344,807 29,050 373,857 90,328 (15,186) 75,142 304,487 422,499 726,986 394,815 407,313 **802,128 ** |
£ 2023 Total Funds 318,685 0 51,188 |
|---|---|---|
| 369,873 | ||
| 370,791 | ||
| 370,791 | ||
| (918) | ||
| 727,904 | ||
| 726,986 |
CONTINUING OPERATIONS All income and expenditure has arisen from continuing activities.
Movements in reserves and all recognised gains and losses are shown above.
6
HOPE COMMUNITY CHURCH (WYMONDHAM) LIMITED (A COMPANY LIMITED BY GUARANTEE) COMPANY REGISTRATION NUMBER 6715714 BALANCE SHEET AT 31 JULY 2024
| Note Tangible Fixed Assets 6 Current Assets Debtors and prepayments 7 Cash in Hand Bank Accounts Current Liabilities Creditors falling due within one year 8 Net Current Assets/(Liabilities) Total Assets Less Current Liabilities Long Term Liabilities Creditors falling due after one year 9 NET ASSETS/LIABILITIES Capital Funds Brought forward at 1 August 2023 Surplus/(Deficit) for the Period Carried forward at 31 July 2024 Funds 10 Unrestricted funds Restricted Funds |
£ 2024 Total Funds 678,627 52,669 43 81,016 133,728 10,227 123,501 802,128 0 802,128 726,986 75,142 802,128 394,815 407,313 **802,128 ** |
£ 2023 Total Funds 680,365 25,122 43 66,676 |
|---|---|---|
| 91,841 | ||
| 17,720 | ||
| 74,121 754,486 27,500 |
||
| 726,986 | ||
| 727,904 (918) |
||
| 726,986 | ||
| 304,487 422,499 |
||
| 726,986 |
7
HOPE COMMUNITY CHURCH (WYMONDHAM) LIMITED (A COMPANY LIMITED BY GUARANTEE) COMPANY REGISTRATION NUMBER 6715714
BALANCE SHEET AS AT 31 JULY 2024
ANALYSIS OF NET ASSETS BETWEEN FUNDS
| 2024 | 2024 | 2024 | 2023 | 2023 | 2023 | |
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |
| Tangible Fixed Assets |
271,314 | 407,313 | 678,627 | 257,866 | 422,499 | 680,365 |
| Current Assets | 133,728 | 0 | 133,728 | 91,841 | 0 | 91,481 |
| Total Assets | 405,042 | 407,313 | 812,355 | 349,707 | 422,499 | 772,206 |
| Current Liabilities | 10,227 | 0 | 10,227 | 17,720 | 0 | 17,720 |
| Long Term Liabilities | 0 | 0 | 0 | 27,500 | 0 | 27,500 |
| NetAssets | 394,815 | 407,313 | 802,128 | 304,487 | 422,499 | 726,986 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024. The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for:
a) ensuring that the charitable company keeps proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with Sections 386 and 387 of the Companies Act 2006
b) preparing financial statements which give a true and fair view of the state of the affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These Financial Statements were approved by the Board of Trustees on 25 April 2025 and were signed on its behalf by:
_______ A Lynch ~~o~~ Trustee p
8
HO PE COMMUNITY CHURCH (WYMONDHAM) (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The charity is not required to prepare consolidated accounts in accordance with the Charities Act 2011, and has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the charity and its subsidiary undertakings comprise a small group.
Preparation of the accounts on a going concern basis
he
charity will have adequate reserves to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible Fixed Assets
These are capitalised if they can be used for more than one year. They are valued at cost or, if gifted, at the value to the charity on receipt. Fixed assets are depreciated on a straight line basis at the following rates in order to write off each asset over its estimated useful life:-
Leasehold Improvements Over the term of the lease Equipment 25%
Fund Accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. During the prior year the trustees decided to create a designated fund, this represents a percentage of offerings and Gift Aid income set aside to distribute to worthy causes.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. VOLUNTARY INCOME
| Year ended 31 July 2024 Offerings Grants received Gift Aid |
Unrestricted Funds Restricted Funds Total 2024 £ £ £ 340,092 8,564 348,656 0 5,300 5,300 44,499 0 44,499 |
|---|---|
| 384,591 13,864 398,455 |
Grants were received as follows for the installation of a lift to the first floor of the building, work commenced in September 2024:
R C Snelling Charitable Trust £ 3,000 Benefact Trust £ 2,300
In 2023 £300 was received from Long Stratton Town Council against the costs of Cup of Hope, a coffee morning project to engage with the residents of Long Stratton.
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HOPE COMMUNITY CHURCH (WYMONDHAM) (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
| Year ended | Unrestricted | Restricted | Total | |
|---|---|---|---|---|
| 31 July 2023 | Funds | Funds | 2023 | |
| £ | £ | £ | ||
| Offerings | 254,969 | 16,925 | 271,894 | |
| Grants received | 0 | 300 | 300 | |
| Gift Aid | 43,444 | 3,047 | 46,491 | |
| 298,413 | 20,272 | 318,685 | ||
| 3. INCOME FROM CHARITABLE ACTIVITES | ||||
| Year ended | Unrestricted | Restricted | Total | |
| 31 July 2024 | Funds | Funds | 2024 | |
| £ | £ | £ | ||
| Donations from trading | ||||
| subsidiary | 4,610 | 0 | 4,610 | |
| Staff Secondment | 19,819 | 0 | 19,819 | |
| Venue Hire | 6,787 | 0 | 6,787 | |
| Hoppers | 3,187 | 0 | 3,187 | |
| Cup of Hope | 818 | 0 | 818 | |
| Megamix | 468 | 0 | 468 | |
| Conferences and Training | 13,424 | 0 | 13,424 | |
| Other Income | 1,431 | 0 | 1,431 | |
| 50,544 | 0 | 50,544 | ||
| Year ended | Unrestricted | Restricted | Total | |
| 31 July 2023 | Funds | Funds | 2023 | |
| £ | £ | £ | ||
| Donations from trading | ||||
| subsidiary | 4,239 | 0 | 4,239 | |
| Staff Secondment | 16,021 | 0 | 16,021 | |
| Venue Hire | 6,445 | 0 | 6,445 | |
| Hoppers | 3,842 | 0 | 3,842 | |
| Cup of Hope | 776 | 0 | 776 | |
| Megamix | 170 | 0 | 170 | |
| Conferences and Training | 10,061 | 0 | 10,061 | |
| Other Income | 9,634 | 0 | 9,634 | |
| 51,188 | 0 | 51,188 |
Hope Community Church is the parent company of Coffee@Hope Ltd (registered number 9845076) which commenced to trade on 1 January 2017. During the year Hope Community Church received a donation of £ 4,610 from Coffee@Hope Ltd. (2023 £ 4,239).
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HOPE COMMUNITY CHURCH (WYMONDHAM) (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
4. CHARITABLE ACTIVITIES
| Year ended 31 July 2024 Direct Costs Staff costs Rent Utilities Church Events Conferences and Training Outreach Worship Promotion Giving Profit on disposal of fixed assets Depreciation Support and Administration Professional Fees Insurance Equipment Hire Maintenance and Repairs Travel Postage and Stationery Telephone and Computer Licences and subscriptions Loan Interest and Bank Charges TOTAL Year ended 31 July 2023 Direct Costs Staff costs Rent Utilities Church Events Conferences and Training Outreach Worship Promotion Giving Depreciation Support and Administration Professional Fees Insurance Equipment Hire Maintenance and Repairs Travel Postage and Stationery Telephone and Computer Licences and subscriptions Loan Interest and Bank Charges TOTAL |
Unrestricted Funds Restricted Funds Total 2024 £ £ £ 193,531 0 193,531 61,281 0 61,281 10,526 0 10,526 9,751 0 9,751 3,217 0 3,217 1,430 0 1,430 409 0 409 7,901 0 7,901 476 0 476 17,156 0 17,156 (200) 0 (200) 6,185 29,050 35,235 |
|---|---|
| 311,663 29,050 340,713 |
|
| 10,873 0 10,873 3,231 0 3,231 504 0 504 8,337 0 8,337 925 0 925 1,343 0 1,343 4,974 0 4,974 1,207 0 1,207 1,750 0 1,750 |
|
| 33,144 0 33,144 |
|
| 344,807 29,050 373,857 |
|
| Unrestricted Funds Restricted Funds Total 2023 £ £ £ 196,315 0 196,315 65,170 300 65,470 8,333 0 8,333 5,567 0 5,567 2,968 0 2,968 1,872 0 1,872 1,592 0 1,592 5,669 0 5,669 461 0 461 13,039 0 13,039 4,792 30,087 34,879 |
|
| 305,778 30,387 336,165 |
|
| 12,023 0 12,023 3,103 0 3,103 504 0 504 6,339 0 6,339 349 0 349 1,808 0 1,808 6,428 0 6,428 1,095 0 1,095 2,977 0 2,977 |
|
| 34,626 0 34,626 |
|
| 340,404 30,387 370,791 |
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HOPE COMMUNITY CHURCH (WYMONDHAM) (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
5. STAFF COSTS
There were 10 paid members of staff during the year. The company operates a defined contribution workplace pension scheme. Six members of staff are auto enrolled. During the year an amount of £ 3,957 (2023 £3,708) was paid into the pension scheme as employer s contributions. Employers NIC amounted to £ 7,641 (2023 £ 5,713). No employee received emoluments in excess of £60,000. During the year a redundancy payment of £1,885 was made.
6. TANGIBLE FIXED ASSETS
| Leasehold Improvements Equipment £ £ Cost At 31 July 2023 877,066 109,089 Additions 28,536 4,961 Disposals 0 (1,192) At 31 July 2024 905,602 112,858 Depreciation At 31 July 2023 209,895 95,895 Charge for the year 30,326 4,909 Disposals 0 (1,192) At 31 July 2024 240,221 99,612 Net Book Value At 31 July 2024 665,381 13,246 At 31 July 2023 667,171 13,194 |
Total £ 986,155 33,497 (1,192) 1,018,460 |
Total £ 986,155 33,497 (1,192) 1,018,460 |
|---|---|---|
| 305,790 35,235 (1,192) 339,833 |
||
| 678,627 | ||
| 680,365 |
Operating Lease Commitments
At 31 July 2024 (until the date of the next break clause 18 March 2025) under non-cancellable operating leases was: Amounts due with one year £ 35,951
7. DEBTORS AND PREPAYMENTS
| Gift Aid Trade Debtors Prepayments Loan due from subsidiary Total |
2024 £ 3,686 9,312 39,207 464 52,669 |
2023 £ 5,477 7,639 11,542 464 25,122 |
|---|---|---|
Coffee@Hope Ltd, a wholly owned subsidiary of Hope Community Church, registration number 9845076, commenced to trade on 1 January 2017. Loans relate to the company formation fees and logo design.
8. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Salaries, Pension & NIC Trade Creditors & Other Creditors Total |
2024 £ 1,505 8,722 10,227 |
2023 £ 1,928 15,792 |
|---|---|---|
| 17,720 |
.
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HOPE COMMUNITY CHURCH (WYMONDHAM) (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
| 2024 Loan Church Members 0 Total 0 |
2023 27,500 |
|---|---|
| 27,500 |
During the year ended 31 July 2016 the church received a loan of £50,000 from church members. This is not interest bearing and is repayable immediately on the death of either spouse, otherwise the terms are to be reviewed every 3 years. The loan was fully repaid during the year.
10. MOVEMENT IN FUNDS
| At 1.8.23 Income Expenditure Transfers between funds At 31.7.24 £ £ £ £ Unrestricted Funds General Fund Designated Fund 299,515 4,972 435,135 0 323,361 21,446 (38,299) 38,299 372,990 21,825 Restricted Funds Restricted - Building Fund 422,499 8,564 29,050 0 402,013 Grants 0 5,300 0 0 5,300 Total Funds 726,986 448,999 373,857 0 802,128 At 1.8.22 Income Expenditure Transfers between funds At 31.7.23 £ £ £ £ Unrestricted Funds General Fund Designated Fund 293,112 2,178 349,601 0 (317,069) (23,335) (26,129) 26,129 299,515 4,972 Restricted Funds Restricted - Building Fund 432,614 19,972 (30,087) 0 422,499 Grant 0 300 (300) 0 Total Funds 727,904 369,873 (370,791) 0 726,986 |
At 1.8.23 Income Expenditure Transfers between funds At 31.7.24 £ £ £ £ Unrestricted Funds General Fund Designated Fund 299,515 4,972 435,135 0 323,361 21,446 (38,299) 38,299 372,990 21,825 Restricted Funds Restricted - Building Fund 422,499 8,564 29,050 0 402,013 Grants 0 5,300 0 0 5,300 Total Funds 726,986 448,999 373,857 0 802,128 At 1.8.22 Income Expenditure Transfers between funds At 31.7.23 £ £ £ £ Unrestricted Funds General Fund Designated Fund 293,112 2,178 349,601 0 (317,069) (23,335) (26,129) 26,129 299,515 4,972 Restricted Funds Restricted - Building Fund 432,614 19,972 (30,087) 0 422,499 Grant 0 300 (300) 0 Total Funds 727,904 369,873 (370,791) 0 726,986 |
|---|---|
| General Fund Designated Fund Restricted Funds Restricted - Building Fund Grant Total Funds |
|
| 727,904 369,873 (370,791) 0 726,986 |
11. RESTRICTED FUNDS
In 2015 the church moved premises from Fairland Street to Ayton Road, Wymondham. Further development of the new site has enabled the church to carry out all its activities, including Sunday worship, from the same site. Work on Phase 2 of the development, to convert the HGV maintenance warehouse into an auditorium and community rooms commenced in August 2016 and was completed in December 2016. To fund this development of the leasehold buildings the church congregation made special offerings specifically for this purpose. These offerings, together with a grant and a loan, are shown as restricted funds.
In response to the growing number of children and youth attending the Wymondham site the church submitted planning permission to alter the configuration of the first floor of the building to increase capacity in the existing rooms. Planning permission was granted and building work commenced in September 2023, completing in October 2023. The church congregation met the full cost of the work which is shown as restricted funds.
Depreciation is charged against reserves.
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HOPE COMMUNITY CHURCH (WYMONDHAM) (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
12. TRUSTEES REMUNERATION AND BENEFITS
During the year payments of £ 7,128 (2023 £ 17,426) were made to Mr G Watkins under the terms of a contract for services. Mr M Bullen was paid £ 30,375 (2023 £ 29,869) for his role as Lead Pastor. Pension contributions paid by the company in respect of Mr M Bullen were £ 911 (2023 £ 896). Mr K Smith was paid £ 6,500 (2022 £ 6,721) for his role as Care Team Leader. No trustee received expense payments relating to their role as a trustee.
13. RELATED PARTY DISCLOSURES
Mr G Watkins is also a trustee and director of Hub Community Project. During the year retirement, an amount of £ 10,145 (2023 £16,021) was receivable from Hub Community Project in respect of secondment of staff members.
Mr G Watkins & Mr M Bullen are directors of Coffee@Hope Ltd. During the year an amount of £ 6,637 (2023 £ 6,395) was received from Coffee@Hope as a contribution towards venue costs, £4,610 ((2023 £ 4,239) as donations.
During the year, Mr B Watkins, the son of Mr G Watkins (a trustee) received remuneration of £ 31,900 (2023: £29,769) in relation to his employment as Youth Worker.
Mr K Smith (a trustee) is a director of KSD Associates Ltd. During the year payments of £ 201 (2023 £ 2,795) were made to KSD Associates Ltd for work procured for graphic design and publicity.
Mr M Heard is the son-in-law of Mr M Day (a trustee), he received remuneration of £31,885 (2023 £ 28,800) in relation to his employment as Digital Services Manager/Thetford site manager. Mr Heard also received a redundancy payment of £1,885.
Mrs S Day, daughter-in-law of Mr M Day (a trustee), received £0 (2023 £ 165) for the provision of flowers for church members.
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