River Church (St Neots) Ltd Report and Accounts Year Ended 31st December 2023
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CONTENTS
| Information | Page 3 |
|---|---|
| Report of the Directors/Trustees | Page 4 |
| Independent Examiners Report | Page 6 |
| Statement of Financial Activities | Page 7 |
| Balance Sheet | Page 8 |
| Cash Flow Statement | Page 10 |
| Notes to the Accounts | Page 11 |
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INFORMATION
Directors/Trustees: Trevor Single Rob McFarlane Mark Crawford Colin Makin Gregg Donaldson
Governing Documents: Memorandum & Articles of Incorporation dated 7th November 2008 Company Registration Number 06744133 Charity Registration Number 1127383 Registered Office 33 Staploe, St Neots, PE19 5JA Independent Examiner K. Webb 20 Staploe St Neots PE19 5JA Bankers NatWest plc
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REPORT OF THE DIRECTORS / TRUSTEES
The trustees are pleased to present their annual directors' report and the financial statements of the charity for the year ending 31 December 2023, which are also prepared to meet the requirements for a directors' report and accounts for Companies Act purposes.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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).
Objects of the Charity
The primary aims of the Trust are to fulfil the role of a Christian church, to promote the Christian faith and to demonstrate God’s love to the local community and throughout the world through education and the relief of suffering and poverty.
Structure, Governance and Management
The organisation is a charitable company limited by guarantee, incorporated on 7th November 2008. The Charity was established under a memorandum of association which established the objects and powers of the charity and it is governed under its articles of association. The policy and operating decisions of the charity rest with the Directors who meet regularly to monitor the activities of the company.
Review of Activities
During the year ended 31st December 2023 the main ways the Charity sought to achieve its objects were as follows:
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By conducting weekly public services for Christian worship, teaching and pastoral care open to the whole community. These took place both online and in-person.
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By providing and hosting activities for children and young people through our groups on Friday evenings and Sunday mornings. These took place both online and in-person.
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By producing and making available for free Christian teaching resources. This included video and audio recordings and the distribution of the Bible and Christian books.
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By the delivery of a Christmas Day lunch to those on their own and distributing toys to children in need.
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By supporting people suffering from bereavement or loss through the provision of counselling or support as part of our pastoral care for the community.
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By supporting Christian missionary work with advice, human resources and financial support.
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By making Rob McFarlane available to strengthen local churches in the United Kingdom.
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By hosting a radio show on Sundays on our local community radio station, Black Cat Radio.
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By promoting positive community relationships and good citizenship through partnership with other local organisations, including partnership with other local churches, local government and community organisations.
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Financial Review
The company has now completed its fourteenth year of trading and income for the 12 months of trading amounted to £98,142, (2022 - £124,273), of which £17,134, (2022 - £19,990) relates to tax recoverable from HM Revenue & Customs in respect of donations received under Gift Aid.
Total expenses amounted to £120,610, (2022 - £112,210).
Reserves Policy
The Board of Directors have established a policy whereby free reserves held by the charity should be maintained at 3 month’s expenditure, subject to any need for abnormal urgent expenditure.
Risk Statement
The Directors 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.
In planning the activities of the charity the Directors have regard to the guidance on public benefit issued by the Charity Commission in September 2013.
Director’s Responsibilities
Charity law requires us as Directors to prepare financial statements for each accounting year which give a true and fair view of the state of the charity and of its income and expenditure for the year.
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Select suitable accounting policies and apply them consistently.
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Make judgements and estimates that are reasonable and prudent.
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State whether the applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts.
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Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in business.
We are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and enable us to ensure that the financial statements comply with the Companies Act 2006, and comply with regulations made under the Charities act.
We also have the responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities. The trustees are also responsible for the contents of the trustees report, and the responsibility of the independent examiner in relation to the trustees report is limited to examining the report and ensuring that, on the face of the report, there are no inconsistencies with the figures disclosed in the financial statements.
Approval
This report was approved by the Directors and signed on their behalf by:
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CHARITY COMMISSION FOR ENGLAND MO WAIÉS Independent examiner's report on the accounts Section A Indepèndent Examiner'$ Report R•port to tho trust••8 RIVER CHURCH 1ST NEOTSI LTO On •ceount• for th• yèar nded 31- DECEIABER 2023 Charlty no IW any) 1127383 S•t out on P•S F7 TO 14 I rert lo the tnteaS on my examination of the account$ of the above antyllhe Tru81'1 for t year endod 3111212023. Respon$Ibillo$ and bas1$ ol repart As the charitys trustees, you are responsib for the preparation ol tr accounts in accordan¢ wth the Tequirements of the Chari1186 Act 2011 {'Ihe Act'i. I report in resFed of my examination of the TnMI'8 account$ carried out under séction 145 of the 2011 A¢1 and in carrying out my eyamination, I have folhjwed all the apFlicae DireGtions given by Charity Commissi under 8econ 145151{b) ol the Aca. Independont •xamlnoe• 8latem•nl I have Comted my examinatlon. l eonfinn that no material matters hav come lo my attention in Connectton wsth the examination which gNes n cause lo believe Ihal in, any material resp8ct'. the ac¢ounling records wore not kept in accordance with section 130 olthe Chanttes A¢t. or the accounts dKI not accord wth th8 accounting rectsrd8; or tho accounts did not cornply wth the applicable QuireMents conceming the form and content of accounts set out In the Ch¥11$ (A19 and Rep) Regulation$ 2008 other than any requirement th81 the accoLtnls give a 'trua and fair, view which 1$ not a matter considered as part of an IJaPerKnl examination. I have no concgms and have come across no other matters in ¢onn8Gtion with the examlnalion to which attention Should bo drawn in this repx)rt in or¢Jer lo enab a tXOFer understan(ling of the accourrts lo be reache(l. Name: KIM WEBB R•vant profo58lonal quallflcationlsl or body (rf any): Addr•••: 20 STAPLOE, ST NEOTS, CAMBS, PE19 5JA 6of14
STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Funds |
Restricted Funds |
Total Funds |
Prior Year | |
|---|---|---|---|---|
| Income | ||||
| Donations and Legacies | £ 93,045 |
£ 900 |
£ 93,945 |
£ 108,396 |
| Other Trading Activities | £ 2,399 |
£ 165 |
£ 2,564 |
£ 15,877 |
| Incoming resources from charitable activities |
£ 782 |
£ 200 |
£ 982 |
£ 177 |
| Other incoming resources | £ 650 |
£ 650 |
£ 121 |
|
| Total income | £ 96,877 |
£ 1,265 |
£ 98,142 |
£ 124,571 |
| Expenditure | ||||
| Cost of generating funds | £ (149) |
£ 1,929 |
£ 1,780 |
£ 311 |
| Charitable activities | £ 116,633 |
£ 2,197 |
£ 118,830 | £ 111,899 |
| Total expenditure | £ 116,484 |
£ 4,126 |
£ 120,610 | £ 112,210 |
| Net income / (expenditure) before transfer |
£ (19,607) |
£ (2,861) |
£ (22,468) | £ 12,361 |
| Transfers | ||||
| Gross transfers between funds - in | £ 100 |
£ 1,800 |
£ 1,900 |
£ 9,543 |
| Gross transfers between funds - out | £ (1,800) |
£ (100) |
£ (1,900) |
£ (9,543) |
| Other recognised gains / losses | ||||
| Gains / losses on investment assets | ||||
| Gains on revaluation, fxed assets, charity's own use |
||||
| Net movement in funds | £ (21,307) |
£ (1,161) |
£ (22,468) | £ 12,361 |
| Reconciliation of funds | ||||
| Total funds brought forward | £ 84,987 |
£ 9,543 |
£ 94,530 |
£ 82,169 |
| Total Funds carried forward | £ 63,680 |
£ 8,382 |
£ 72,062 |
£ 94,530 |
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BALANCE SHEET
| BALANCE SHEET | |||
|---|---|---|---|
| As at 31st December 2023 |
As at 31st December 2022 |
||
| Fixed assets | |||
| Tangible assets | £ 5,180 |
£ 1,103 |
|
| £ 5,180 |
£ 1,103 |
||
| Current assets | |||
| Debtors | £ 2,775 |
£ 3,136 |
|
| Cash at bank and in hand | £ 67,554 |
£ 91,213 |
|
| £ 70,329 |
£ 94,349 |
||
| Liabilities | |||
| Creditors: Amounts falling due in one year | £ 3,447 |
£ 922 |
|
| Net current assets less current liabilities | £ 66,882 |
£ 93,427 |
|
| Total assets less current liabilities | £ 72,062 |
£ 94,530 |
|
| Total net assets less liabilities | £ 72,062 |
£ 94,530 |
|
| Represented by | |||
| Unrestricted - General Fund | £ 63,680 |
£ 84,987 |
|
| Restricted - Building Fund | £ 6,844 |
£ 5,643 |
|
| Restricted - Relaunch Fund | £ 0 |
£ 2,000 |
|
| Restricted - People Needs | £ 1,538 |
£ 1,900 |
|
| Funds of the church | £ 72,062 |
£ 94,530 |
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BALANCE SHEET CONTINUED
For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 Companies Act 2006. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these financial statements under the requirements of the Companies Act 2006.
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and 387 of the Act and for preparing financial statements which give a fair and true view of the state of affairs of the company as at the end of the financial period and of its profit or loss for the 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 accounts, so far as applicable to the company.
These financial statements have been prepared in accordance with the provisions relating small companies within part 15 of the Companies Act, and in accordance with FRS 102 SORP.
Approved by the Directors and signed on their behalf by:
......................... ............................... ......................... ......................... Rob McFarlane Date Mark Crawford Date Trustee Trustee Trustee Trustee
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CASH FLOW STATEMENT
| 2023 | 2022 | |
|---|---|---|
| Cash fow from operating activities | ||
| Net income/(expenditure) | £ (23,118) |
£ 12,241 |
| Depreciation and loss on sale of assets |
£ 1,313 |
£ 1,356 |
| (Increase)/Decrease in debtors | £ 361 |
£ 2,023 |
| Increase/(Decrease) in creditors | £ 2,525 |
£ 194 |
| Interest from investments | £ 0 |
£ 0 |
| £ (18,919) |
£ 15,814 |
|
| Cash fow from other sources | ||
| Sale proceeds from fxed assets | £ 270 |
£ 0 |
| Interest from investments | £ 650 |
£ 121 |
| Cash fow from investing activities | ||
| Purchase of fxed assets | £ (5,660) |
£ 0 |
| Net increase/(decrease) in cash | £ (23,659) |
£ 15,935 |
| Cash at bank and in hand at beginning of the year |
£ 91,213 |
£ 75,278 |
| Cash at bank and in hand at end of the year |
£ 67,554 |
£ 91,213 |
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NOTES TO THE ACCOUNTS
(1) Accounting Policies
The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
The accounts present a true and fair view and no changes have been made to accounting policies adopted in note 1.
Donated and grant income: Donated income and grants receivable are taken into account when received by the charity. Income received in circumstances where a claim for repayment of tax has been or will be made to HM Revenue & Customs is grossed up for the tax recoverable. Any amount of tax reclaimed from HM Revenue & Customs but not yet received is shown within the charity’s debtors.
Expenditure: Expenditure, including irrecoverable VAT is taken into account when incurred by the Charity, regardless of when payment is made.
Funds: Unrestricted funds are donations and other income received or generated for the objects of the charity without specified purpose and are available for purposes as directed by the trustees. Restricted funds are amounts received where the donor has specified the purpose for which it should be used.
Fixed assets and depreciation: Fixed assets acquired for use by the charity are capitalised and depreciated over their estimated useful life unless they cost less than £100 when they are written off on purchase. Depreciation periods on Equipment is between 3 and 5 years.
Taxation: The company is a registered charity and is exempt from taxation under the Income & Corporation Taxes Acts.
(2) Donations and Legacies
| Unrestricted Funds |
Restricted Funds |
Total 2023 | Total 2022 | |
|---|---|---|---|---|
| General Donations |
£ 76,811 |
£ 0 |
£ 76,811 |
£ 88,406 |
| Tax Recovered | £ 17,134 |
£ 0 |
£ 17,134 |
£ 19,990 |
| TOTAL | £ 93,945 |
£ 0 |
£ 93,945 |
£ 108,396 |
(3) Cost of Raising Funds
| Unrestricted Funds |
Restricted Funds |
Total 2023 | Total 2022 | |
|---|---|---|---|---|
| Advertising and Marketing |
£ (149) |
£ 1,929 |
£ 1,780 |
£ 311 |
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(4) Expenditure on Charitable Activities
Direct Charitable Costs
| Unrestricted Funds |
Restricted Funds |
Total 2023 | Total 2022 | |
|---|---|---|---|---|
| Employment Costs (Note 5) |
£ 57,508 |
£ 57,508 |
£ 48,534 |
|
| Property Costs | £ 19,581 |
£ 19,581 |
£ 19,014 |
|
| Meeting Costs | £ 16,829 |
£ 1,648 |
£ 18,477 |
£ 7,835 |
| Conference and Training |
£ 525 |
£ 525 |
£ - |
|
| Event Costs | £ 3,879 |
£ 3,879 |
£ 16,744 |
|
| Teaching Materials |
£ 833 |
£ 833 |
£ 1,226 |
|
| Travel and Subsistence Costs |
£ 2,687 |
£ 79 |
£ 2,766 |
£ 2,570 |
| Legal and Professional |
£ 904 |
£ 15 |
£ 919 |
£ 528 |
| Grants and Donations |
£ 8,521 |
£ 426 |
£ 8,947 |
£ 8,904 |
| Finance Costs | £ 386 |
£ 386 |
£ 557 |
|
| Depreciation | £ 1,313 |
£ 1,313 |
£ 1,356 |
|
| TOTAL | £ 112,966 |
£ 2,168 |
£ 115,134 |
£ 107,268 |
Legal and Professional Fees include Governance Costs of £300 (2022: £300), being the independent examiner’s fees.
Support and Administration
| Unrestricted Funds |
Restricted Funds |
Total 2023 | Total 2022 | |
|---|---|---|---|---|
| Ofce Costs | £ 3,667 |
£ 29 |
£ 3,696 |
£ 4,631 |
| TOTAL | £ 3,667 |
£ 29 |
£ 3,696 |
£ 4,631 |
Combined Expenditure on Charitable Activities
| Unrestricted Funds |
Restricted Funds |
Total 2023 | Total 2022 | |
|---|---|---|---|---|
| TOTAL | £ 116,633 |
£ 2,197 |
£ 118,830 |
£ 111,899 |
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The charity has 1 full time and 3 part time employed staff. No staff received salaries at a rate of more than £60,000 per annum. Rob McFarlane, a trustee received remuneration of £29,272.26. No renumeration was paid to any other trustee during the period. Trustees were reimbursed a total of £2,545.12 in conference, training, travel, subsistence and miscellaneous expenses all of which was directly relevant to their role as leaders or trustees of the church. Pension contributions of £5,265.29 (2022: £5,027) were made on behalf of the trustee, Mr R McFarlane.
(6) Tangible Fixed Assets
| Cost | Equipment | Total |
|---|---|---|
| At 1st January 2023 | £ 18,958 |
£ 18,958 |
| Additions | £ 5,660 |
£ 5,660 |
| Disposals | £ (270) |
£ (270) |
| At 31st December 2023 | £ 24,348 |
£ 24,348 |
| Accumulated Depreciation | Equipment | Total |
|---|---|---|
| At 1st January 2023 | £ 17,855 |
£ 17,855 |
| Charge for the Year | £ 1,313 |
£ 1,313 |
| Adjustment on Disposals | £ 0 |
£ 0 |
| At 31st December 2023 | £ 19,168 |
£ 19,168 |
| Net Book Value | Equipment | Total |
| At 31st December 2023 | £ 5,180 |
£ 5,180 |
| At 31st December 2022 | £ 1,103 |
£ 1,103 |
(7) Debtors and Prepayments
| (7) Debtors and Prepayments | ||
|---|---|---|
| 2023 | 2022 | |
| Tax Recoverable | £ 1,154 |
£ 1,579 |
| Bond | £ 1,557 |
£ 1,557 |
| Other Debtors | £ 64 |
£ 0 |
| Total | £ 2,775 |
£ 3,136 |
(8) Cash at Bank and in Hand
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| 2023 | 2022 | |
|---|---|---|
| Bank Current Account | £ 67,554 |
£ 91,213 |
| TOTAL | £ 67,554 |
£ 91,213 |
(9) Creditors - Liabilities Falling Due within One Year
| 2023 | 2022 | |
|---|---|---|
| Income Tax and National Insurance |
£ 439 |
£ 532 |
| Accruals | £ 3,008 |
£ 390 |
| Total | £ 3,447 |
£ 922 |
(10) Funds as at 31st December 2023
| General Funds | Designated Funds |
**Restricted Funds ** | Balance at 31st December 2023 |
|---|---|---|---|
| £63,680 | £0 | £8,382 | £72,062 |
(11) Members
Each member commits to contribute, if the charity is wound up, an amount of £1.
(12) Related Party Transactions
Remuneration of £8,452.08 was paid to Mrs Gillian McFarlane during the year, Rob McFarlane’s wife. There have been no other related party transactions in the reporting period.
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