Virtualsigrhalure Transaction Rel. PMRX.JZ2T-2A YQ 14 May 2025 13.-45-.03 BST (UTC *11 D 111 P 1127 Registered number- 06739587 Charity number.. 1128133 BRUNSTAD CHRISTIAN CHURCH DIDCOT (A company limited by guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
Virtualsigrhalure Transaction Rel. PMRX.JZ2T-2A YQ 14 May 2025 13."45".03 BST (UTC *11 D 111 P 2127 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) CONTENTS Page Refgrgncg and administrativa dgtails of the charityi its Trustegs and advisgrs Trustees. report Independent examiner's report Statement of financlal actlvltles Balance sheet 9-10 Statement of cash flows Notes to the financial statements 12-25
Virtualsigrhalure Transaction Rel. PMRX.JZ2T-2A YQ 14 May 2025 13."45".03 BST (UTC *11 D 111 P 2127 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees Mr Louis Peter Van As Mr Paul Heaven Ms Lucy Savage Mr Stuart David Cox (appointed 6 February 20241 Ms Anne Abraham Company registered number 06739587 Charity registered number 1128133 Registered office Garden House, Mihon Hill, Steventon, Abingdon, Oxfordshire, OX13 6AF Chief executive officer David Heaven Accountants James Cowper Kreslon, Reading Bridge House, George Street, Reading, Berkshire, RG18LS Bankers HSBC, 186 Broadway, Didcot. Oxfordshire, OX11 8RP Page 1
Virtualsigrhalure Transaction Rel. PMRX.JZ2T-2A YQ 14 May 2025 13."45".03 BST (UTC *11 D 111 P 4127 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees Iwho are also directors of the charity for the purposes of the Companies Act) present their annual report together with the financial statements of Brunstad Christian Church Didcol Ilhe company) for the year ended 31 December 2024. The Trustees confirm that the Annual report and financial statements of the company comply with the current statutory requirements, the requirements of the companls governing document and the provisions of the Statement of Recommended Practice ISORPI, applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20191. Since the company qualifies as small under section 383, the strategic report reqLJired of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required. STRUCTURE, GOVERNANCE AND MANAGEMENT CONSTITUTION The company is registered as a charitable company limited by guarantee and was sel up by a Memorandum of Association on 3 November 2008. The Articles of Association were updated in December 2011 to reflect the latest guidelines and to provide that voting of the board should be unanimous where not specified otherwise by the companies acts. The company is conslitLJted under a Memorandum of Association dated 3 November 2008 and is a registered charity number 1128133. The principal object of the company is to promote the furtherance of the Christian faith and support the development of young people. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association. As the need arises the existing Iruslees will continue to identify potential candidates from the active church members based on their involvement and skills. Many church members take responsibility for activities or projects in the church, and this gives us a pool of possible candidates with known skills. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES Appropriate webinars and courses to improve and update trustee knowledge are highlighted to all Iruslees and feedback from those attending is shared with the whole group. ORGANISATIONAL STRUCTURE AND DECISION MAKING The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association. The board of trustees meets al least 9 limes a year and meetings include a financial update, development considerations and any other significant decisions. OBJECTIVES AND ACTIVITIES ACTIVITIES FOR ACHIEVING OBJECTIVES The trustees have paid due regard lo the Charity Commission's guidance on public benefit and strongly believe that holding Christian services and other activities detailed in this report provide public benefit. Individuals are laughl to feel responsible to contribute to the welfare of society, to respect the authorities in the country, and lo show genuine care for their neighbours and the environment. At the AGM in September, Lucy Savage retired as a trustee by rotation in accordance with the articles and offered themselves for reappointment, which was unanimously approved. Stuart Cox was appointed as a trustee on 6 February 2024. Page 2
Virtualsigrhalure Transaction Rel. PMRX.JZ2T-2A YQ 14 May 2025 13."45".03 BST (UTC *11 D 111 P 5127 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The charity holds regular Christian meetings, and arrange the following activities aimed al specific groups.. Three Sunday School groups for 3-5, 6-8 and 9-11 year olds Bible studies for tweens Weekly youth meeting for 13-36 year olds Sport I leisure lime activilies113-25 years) Football Iraining14-16 years) Weekly activities club18-11 years and 12-18 years) 060's gatherings Contributed with acting, directing, script writing, dubbing, editing and translating of Christian media content Develop leadership and management skills by involvement in and planning of church events and activities We contribute financially to international missionary work and support a multilingual Christian website Iwww.aclivechrislianity.orgl both financially and by conlribuling content. We have decided that it is more effective lo support this global resource than maintain our own local web presence. Several of our members have contributed conlenl to the sile, either in written form or as video interviews. Several of our members also volunteer their time to provide English subtitling and dubbing on the Brunslad TV channel, enabling English speaking people around the world to access the content. ACHIEVEMENTS AND PERFORMANCE REVIEW OF ACTIVITIES In 2024 there was a small project lo improve the acoustics of the main hall with acoustic panelling. There were no other significant improvements to the property. Regular general meetings are held on Sundays with three concurrent children's meetings held alongside. Youth meetings are held weekly for 13-36-year-olds. The regular activities clubs run on a Tuesday evening for 8-11-year-olds, whilst the 12-18-year-olds are also provided with a variety of activities and given the opportunity lo develop a range of skills ranging from maintenance to media and event planning. Our media team continues lo be involved in Iranslaling and dubbing the conlenl of the channel from Norwegian so that English speakers all over the world can watch and listen lo conlenl in English. Several of our members travelled lo Norway and Netherlands lo partake in acting and directing in films retelling bible stories and other Christian content created by BCC Media. Our youth group participated in two TV based bible studies during the Spring and Autumn of 2024. Many of the youth group also travelled lo Norway for three Christian International Youth Activity Camps held throughout the year. The camps offer young people attending from all over the world a broad range of activities during the day and brings them together in the evenings for interesting bible studies, meetings and other events aimed at edification and building fellowship. FINANCIAL REVIEW We closed the year with nel assets of £1,199k 12023.. £1,162kl having raised £582k {2023.' £597kl during the year, in addition lo spending £544k 12023.. £629kl on charitsble activities and governan costs. The small decrease in income was due to a wuple of invoiced one-off events in 2023 not repeated in 2024. The decrease in spending was due to a one-off donation lo international Conferen centre in 2023, reduced missionary fund donations and a decrease in depreciation. The trading subsidiary TCD saw another strong year donating £63,63212023= £64,389). Page 3
Virtualsigrhalure Transaction Rel. PMRX.JZ2T-2A YQ 14 May 2025 13."45".03 BST (UTC *11 D 111 P 6127 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 PRINCIPAL RISKS AND UNCERTAINTIES The trustees have evaluated the risks facing the charity and these fall into two main areas, financial and people. Raising sufficient income to meet our operating costs, and lo maintain a sound financial basis for expected future growth is a key risk. Our income regulady exceeds our expectations, we have a significant cash balance, and the members of the charity continue to be highly engaged in our mission, so this risk is currently considered lo be low. Foreign FX risk - we have aimed to minimise our foreign FX risk by holding the repayment of the NOK loan in a NOK bank account. On the people side, much of our activity is focussed on children and young people, and therefore we face the same risks as every other organisalion that provides services lo those groups. We manage this risk through a Child Protection Program including enhanced DBS Checks and regular training. This risk is currently considered lo be low. RESERVES POLICY We would normally aim lo hold £20,000 for emergency spend and a further £20,000 lo cover seasonal fluclualions in our current account. Amounts for use over a longer lime frame are moved to interest bearing accounts. During the year £25,152 {2023'. £14,019) of reserves were invested in improvements to our property and other fixed assets. Our policy is to build reserves sufficient to allow us lo develop facilities which will further our objectives over a horizon of al least twenty years and lo reduce our reliance on debt funding. We ideally plan to take a maximum of 50Q/o debt funding for building projects. Whilst we continue to save for future projects {saved funds 2024.. £966,577 and 2023.. £1,037,195), we expect lo begin a medium sized extension project in the autumn of 2025. We also anticipate future funds to be used in.. small and medium development projects in the short to medium term a major development al our main premises, Garden House donating funds lo charitable projects being carried out by like-minded organisations which further our objectives. We held funds for this purpose al the year-end in order to support spectfic projects as the need arises. Our preference is to adopt 8 social investment approach lo the reserves in order lo apply them for aligned charitsble purposes until such time as we need lo use them. This is covered in more detail in the next section. INVESTMENTS POLICY As our reserves policy noted above has involved us holding significant funds careful consideration has been given to our investment policy. Our policy is to seek to hold our funds in a combination of.. interesl-bearing cash accounts and money market accounts as a low risk and accessible funds 12024.. £672,162 and 2023.. £209,919> low to moderate risk charitable investment INOK 5.3m loan with an interest rate of 5101 Original loan NOK10m. NOK 4.3m repaid Dec24, remaining NOK5.3m repaid Mar25. Currently held in a NOK bank account. Page 4
Virtualsigrhalure Transaction Rel. PMRX.JZ2T-2A YQ 14 May 2025 13."45".03 BST (UTC *11 D 111 P 7127 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 TRUSTEES. RESPONSIBILITIES STATEMENT The Trustees (who are also directors of Brunstad Christian Church Didcol for the purposes of company lawl are responsible for preparing the Trustees. Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. Company law requires the Trustees lo prepare financial slalements for each financial year. Under company law the Trustees musl not approve the financial statements unless they are satisfied that they give a true and fair view of the stsle of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitsble company for that period. In preparing these financial stslemenls, the Trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities Statement of Recommended Practice., make judgments and accounting estimates that are reasonable and prudent., prepare the financial statements on the going conrn basis unless it is inappropriate lo presume that the charitable company will continue in operation. The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the charitable companls transactions and disclose with reasonable accuracy al any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by.. Mr Paul Heaven ITrusleel Dale.. 14 May 2025 Page 5
Virtualsigrhalure Transaction Rel. PMRX.JZ2T-2A YQ 14 May 2025 13."45".03 BST (UTC *11 D 111 P 8127 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Independent Examiner's Raport to the Trustees of Brunstad Christian Church Didcot report to the charity Trustees on my examination of the accoLJnts of the Charity for the year ended 31 December 2024. Responsibilities and Basis of Rgport As the Trustees of the Charity land its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'the 2006 AcV}- Having satisfied myself that the accounts of the Charity 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 the Charitys accounts carried out under section 145 of the Charities Act 2011 1.the 2011 Acl'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent Examiner's Statement Since the Charills gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of Institute of Chartered AccoLJntanls in England and Wales, which is one of the listed b(Idies. I have completed my examination. I confirm that no matters have come lo my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act,. or the accounts do not accord with those records., or 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 'lrue and faiv view which is not a maller considered as part of an independent examination- or 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 lo charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other matters in connection with the examination to which attention shoLJld be drawn in this report in order to enable a proper understanding of the accounts to be reached. Page 6
Virtualsigrhalure Transaction Rel. PMRX.JZ2T-2A YQ 14 May 2025 13."45".03 BST (UTC *11 D 111 P 9127 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) INDEPENDENT EXAMINER'S REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 This report is made solely to the Charity's Trustees. as a body, in accordance with Part 4 of the Charities IAccounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charitys Trustees those matters l am required lo stale to them in an Independent examinerfs report and for no other purpose. To the fullest exlenl permitted by law, I do not accept or assume responsibility lo anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report. Signed.. MrAlexander Peal Bsc {Honsl FCA DChA James Cowpgr Krg$ton Chartered Accountsnls and Statutory Auditor Reading Bridge House George Street Reading Berkshire RG18LS Page 7
Virtualsigrhalure Transaction Rel. PMRX.JZ2T-2A YQ 14 May 2025 13."45".03 BST (UTC *11 D 111 P 10tt7 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT} FOR THE YEAR ENDED 31 DECEMBER 2024 Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Other trading activities Investments Other income 442,047 96,652 43.543 442,047 96,652 43.543 448,968 104,147 42,833 740 Total income 582,242 582,242 596,688 Expenditure on: Charitable activities Other expenditure 544.419 544.419 614,161 15,182 Totsl expenditure 544,419 544.419 629,343 Net movement in funds 37.823 37.823 132,6551 Reconciliation of funds.. Total funds brought forward Nel movement in funds 740,707 420,851 37,823 1,161,558 37,823 1,194,213 132,6551 Total funds carrled fonvard 740.707 458.674 1,199.381 1,161,558 The notes on pages 12 to 25 form part of these financial statements. Page 8
Virtualsigrhalure Transaction Rel. PMRX.JZ2T-2A YQ 14 May 2025 13."45".03 BST (UTC *11 D 111 P 11tt7 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) REGISTERED NUMBER: 06739587 BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Note Fixed assets Tangible assets Investrnenls 12 13 77.637 399,754 91,395 772,284 477.391 863,679 Current assets Debtors Cash at bank and in hand 14 62,593 672,162 100,923 209,919 734.755 310,842 Creditors.. amounts falling due wthin one year 15 {12,7651 112,9631 Net current assets 721.990 297,879 Total assets less current1SabSlltles 1,199.381 1,161,558 Total net assets 1,199.381 1,161,558 Charity funds Restricted funds 16 740.707 458,674 740,707 420,851 Unrestricted funds 16 Total funds 1,199.381 1,161,558 The Charity was enlilled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the company lo obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect lo accounting records and preparation of financial slalements. The financial statements have been prepared in accordance wth the provisions applicable to entities subject lo the small companies regime. Page 9
Virtualsigrhalure Transaction Rel. PMRX.JZ2T-2A YQ 14 May 2025 13."45."03 BST (UTC *11 D 111 P 12&7 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) REGISTERED NUMBER: 06739587 BALANCE SHEET ICONTINUEDI AS AT 31 DECEMBER 2024 The financial statements were approved and aulhorised for issue by the Trustees and signed on their behalf by= Mr Paul Heaven Trustee Dale.. 14 May 2025 The notes on pages 12 to 25 form part of these financial statements. Page 10
Virtualsigrhalure Transaction Rel. PMRX.JZ2T-2A YQ 14 May 2025 13."45."03 BST (UTC *11 D 111 P 1S&7 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Cash flows from operating activities Nel cash used in operating activities 141,939 36,039 Cash flows from investing activities Dividends. interests and rents from investments Purchase of tangible fixed assets Repayment of loan to associates 43,543 (25,1521 301,913 42,833 114,0191 Net cash provlded by Investlng actlvltles 320,304 28.814 Cash flows from financing activities Repayments of borrowing 1210,2261 Net cash provided byllused in) financing activities {210.226) Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year 462,243 {145,373) 355,292 209,919 Cash and cash equivalents at the end of the year 672,162 209,919 The notes on pages 12 to 25 form part of these financial statements Page11
Virtualsigrhalure Transaction Rel. PMRX.JZ2T-2A YQ 14 May 2025 13."45".03 BST (UTC *11 D 111 P 14tt7 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policias 1.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP IFRS 102) Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in 8c¢ordance with the Financial Reporting Standard 8ppIic8ble in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 2019}, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Brunstad Christian Church Didcot meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical Cost or transa¢lion value unless otherwise ststed in the relevant accounting policy. 1.2 Company status The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited lo £10 per member of the company. 1.3 Fund accounting General funds are unrestricted funds which are available for use al the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been sel aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific reslriclions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. 1.4 Income All income is recognised once the Charity has enlillemenl lo the income, il is probable that the income will be received and the amount of income receivable can be measured reliably. For legacies, entillemenl is taken as the earlier of the date on which either.. the Charity is aware that probate has been granted, the estsle has been finalised and notification has been made by the executorlsl lo the Charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in p8rt, is only considered probable when the amount can be measured reliably and the Charity has been notified of the executor's intention lo make a distribution. Where leg8cies have been notified to the Charity. or the Charity is aware of the gffinling of probate, and the criteria for income recognition have not been met, then the legacy IS treated as a contingent asset and disclosed if material. Income lax recoverable in relation lo donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Income lax recoverable in relation lo investment income is recognised at the lime the investment income is receivable. Page 12
Virtualsigrhalure Transaction Rel. PMRX.JZ2T-2A YQ 14 May 2025 13."45."03 BST (UTC *11 D 111 P 15&7 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policias Icontinuodl 1.5 Exponditur8 Expenditure is recognised once there is a legal or constructive obligation lo make payments lo a third paty, it is probable that settlement wll be required and the amount of the obligation can measured reliably. l expenditure is accounted for on an accrLJals basis. All expenses including support costs and governance costs are allocated to the applicable expenditure headings. Charitable activities and Governance costs are costs incurred on the companls educational operations, including support costs and costs relating to the govemance of the company apportioned to charitable activities. l expenditure is inclusive of irrecoverable VAT. 1.6 Tangible fixed assets and depreciation Tangible fixed assets costing £1,000 or more are capitalised. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured al cost less accumulated depreciation and any accumulated impairment losses. All costs incurred lo bring a tangible fixed asset into ils intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, Ljsing the straight-line method. Depreciation is provided on the followng bases.. Land and buildings Plant and machinery Fixtures and fittings Equipment Other fixed assets 5,/0 Straight line 33O/y slraighl line 33O/y slraighl line 33O/y slraighl line 100/. & 330/0 Straight line For the year ended 31 December 2023 there was a change in depreciation rate for the Land and buildings from 100/0 Straight line to 5 /0 Straight line lo better reflect the residual value of the asset. The adjustment has been applied prospectively and apportioned accross the remaining usefLJI life of the asset. 1.7 Investments Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at fair value as at the balance sheet date, using the closing quoted market price. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading 'Gainslllossesl on investrnenls, in the Slalement of Financial Activities incorporating income and expenditure account. Page 13
Virtualsigrhalure Transaction Rel. PMRX.JZ2T-2A YQ 14 May 2025 13."45."03 BST (UTC *11 D 111 P 16&7 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policias Icontinuodl 1.8 Foreign currencies Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling al the balance sheet date. Transactions in foreign currencies are translated into slerfing at the rale ruling on the date of the transaction. Exchange gains and losses are recognised in the Statement of Financial Activities incorporating income and expenditure account. 1.9 Interest receivable Interest on fLJnds held on deposit is included when receivable and the amount can be measured reliably by the Charity., this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 1.10 Debtors Trade and other debtors are recognised at the selllemenl amount after any trade discount offered. Prepayments are valued at the amount prepaid nel of any trade discounts due. 1.11 Cash at bank and in hand Cash at bank and in hand includes cash and short-lerm highly liquid investrnenls with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 1.12 Liabilities and provisions Liabilities are recognised when there is an obligation al the Balance sheet dale as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay lo sellle the debt or the amount il has received as advanced payments for the goods or services it must provide. 1.13 Financial instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured al their settlement value wf(h the exception of bank loans which are subsequently measured al amortised cost using the effective interest method. Page 14
Virtualsigrhalure Transaction Rel. PMRX.JZ2T-2A YQ 14 May 2025 13."45".03 BST (UTC *11 D 111 P 17tt7 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Critical accounting gstimatos and areas of judgment The preparation of the financial statements reqLJires management lo make judgements, estimates and assLJmplions that affect the amounts reported for assets and liabilities as al the balance sheet dale and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements lapart from those involving estimalesl have had the most significant effect on amounts recognised in the financial statements. Critical accounting eslimales and assumptions.. Tangible fixed assets (see note 111 Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual valLJes are assessed annually and may vary depending on a number of factors. Residual value assessments consider issues such as the remaining life of the asset and projected disposal values. Income from donations and legacies Unrestricted funds 2024 Total funds 2024 Total funds 2023 Donations including gift aid TCD Business 378,415 63,632 378,415 63,632 384,579 64,389 442,047 442,047 448,968 Total 2023 448,968 448,968 Page 15
Virtualsigrhalure Transaction Rel. PMRX.JZ2T-2A YQ 14 May 2025 13."45."03 BST (UTC *11 D 111 P 18&7 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Income from other trading activities Income from fundraising events Unrestricted funds 2024 Total funds 2024 Total funds 2023 Short term rental income Local events and activities Christian resources 13,270 83,277 105 13,270 83,277 105 6,270 96,491 1,386 96,652 96,652 104,147 Total 2023 104,147 104,147 Investment income Unrestricted funds 2024 Total funds 2024 Total funds 2023 Investment income Bank interest 34,723 8,820 34,723 8,820 37,977 4,856 43,543 43,543 42,833 Total 2023 42,833 42,833 other incoming resources Unrestricted funds 2024 Total funds 2024 Totsl funds 2023 Other inilialives 740 Total 2023 740 740 Page 16
Virtualsigrhalure Transaction Rel. PMRX.JZ2T-2A YQ 14 May 2025 13."45".03 BST (UTC *11 D 111 P 19tt7 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysis of expenditura on charitable activitigs Summary by fund type Unrestricted funds 2024 Total 2024 Total 2023 Direct costs Governance costs 539,209 5,210 539,209 5,210 610,222 3,939 544,419 544,419 614,161 Totsl 2023 614,161 614,161 Other expenditure Unre$tri¢ted funds 2024 Total funds 2024 Total funds 2023 Mortgage interest 15,182 Totsl 2023 15,182 15,182 Analysls of expendlture by actlvltles Actlvltles undertaken dlrectly 2024 Support costs 2024 Total funds 2024 Total funds 2023 Direct costs 539,209 539,209 5,210 610,222 3,939 Governance costs 5,210 539,209 5,210 544,419 614,161 Total 2023 610,222 3,939 614,161 Page 17
Virtualsigrhalure Transaction Rel. PMRX.JZ2T-2A YQ 14 May 2025 13."45".03 BST (UTC *11 D 111 P 20tt7 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysis of expenditur8 by activities Icontinuedl Analysis of direct costs Total funds 2024 Total funds 2023 Activities 2024 Meetings and Events Donation to BCC Federation Cost of literature Missionary fund donations Premises costs 252,013 252,013 255,574 37,791 1,347 86,074 81,418 73,567 1,708 3,663 1,129 38,910 16201 1,347 86,074 81,418 73,567 1,708 3,663 1,129 38,910 {6201 107,552 76,074 73,846 1,106 3,108 13,5511 58,722 Bank charges and foreign exchange differences Computer and internet expenses Postage, stationery and telephone other Depreciation of equipment & property Gain on disposal of fixed assets 539,209 539,209 610,222 Total 2023 610,222 610,222 Analysis of support costs Total funds 2024 Total funds 2023 Activities 2024 Travel costs Subscriptions Independent examinerfs fees 551 603 4,056 551 603 4,056 397 182 3,360 5,210 5,210 3,939 Total 2023 3,939 3,939 Page 18
Virtualsigrhalure Transaction Rel. PMRX.JZ2T-2A YQ 14 May 2025 13."45".03 BST (UTC *11 D 111 P 21tt7 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 10. Independent 8xaminar's remuneration 2024 2023 Fees payable lo the Charills independent examiner for the independent examination of the Charitys annual accounts Fees payable lo the Charills independent examiner in respect of.. Preparation of the Company's annual accounts All other services not included above 1,200 1.170 2,256 600 2,190 11. Trustees. remuneration and expenses During the year, no Trustees received any remuneration or other benefils12023 - £NILI. During the year ended 31 December 2024, no Trustee expenses have been incurred {2023 - £NILI. 12. Tangible fixed assets Freehold property Plant and machinery Office Other fixed equipment assets Total Cost or valuation At 1 January 2024 Additions 825.720 65,067 13,044 63,124 7,572 321.962 4.536 1,275.873 25.152 At 31 December 2024 825,720 78,111 70,696 326,498 1,301,025 Depreciation At 1 January 2024 Charge for the year 788.397 3.999 50,871 10,512 51,252 7.795 293,958 16.604 1,184.478 38.910 At 31 December 2024 792.396 61,383 59,047 310.562 1,223.388 Net book value At 31 December 2024 33.324 16,728 11,649 15,936 77.637 At 31 December 2023 37,323 14,196 11,872 28,004 91,395 Page 19
Virtualsigrhalure Transaction Rel. PMRX.JZ2T-2A YQ 14 May 2025 13."45."03 BST (UTC *11 D 111 P 22&7 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 13. Fixed assat investments Investments Sn subsidiary companies Loans to associates Total Cost or valuation Al 1 January 2024 Repayments Revaluations 772.278 (301.913} 170,617) 772.284 {301.913) 170,6171 At 31 December 2024 399,748 399.754 Principal subsidiaries The following were subsidiary undertakings of the Charity.. Names Company number Holding TCD Business Limited Oxfordshire Enterprises Limited GH Travel Limited 06451996 07360963 09410676 The financial results of the subsidiaries for the year were.. Names Aggregate of share Capital and reserves TCD Business Limited Oxfordshire Enterprises Limited GH Travel Limited All three subsidiaries had a profit and loss balance of £nil in the year wth GH Travel Limited and Oxfordshire Enterprises Limited being dormant in the year. Page 20
Virtualsigrhalure Transaction Rel. PMRX.JZ2T-2A YQ 14 May 2025 13."45."03 BST (UTC *11 D 111 P 2S&7 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 14. Debtors 2024 2023 Trade debtors 3,613 8,389 50,591 8,368 4,515 88,040 Amounts owed by group undertakings Prepayments and accrued income 62,593 100,923 Crgditors.. Amounts falling dug within ono year 2024 2023 Trade creditors 5,821 Amounts owed lo group undertakings Other creditors Accruals and deferred income 1,090 5,825 1,090 6,050 12,765 12,963 Page 21
Virtualsigrhalure Transaction Rel. PMRX.JZ2T-2A YQ 14 May 2025 13."45".03 BST (UTC *11 D 111 P 24tt7 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 16. Statgmgnt offunds Statgmgnt offunds- current year Balance at 31 December 2024 Balanca at 1 January 2024 Income Expenditure Unrestrlcted funds Designated funds Designated Funds - all funds 296.488 {70.6171 225.871 General funds General Funds - all funds 124.363 582.242 1473,8021 232.803 Total Unrgstrictgd fvnds 420,851 582.242 1544,4191 458.674 Restricted funds Restricted Funds- all funds 740,707 740.707 Total of funds 1,161,558 582.242 1544,4191 1,199.381 Page 22
Virtualsigrhalure Transaction Rel. PMRX.JZ2T-2A YQ 14 May 2025 13."45."03 BST (UTC *11 D 111 P 25&7 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 16. Statgmgnt of funds Icontinuedl Statgmgnt offunds- prioryoar Ealance at 31 December 2023 Balance al 1 January 2023 Income Expenditure Unrestrlcted funds Designated funds Designated Funds - all funds 401,273 1104,785) 296,488 General funds General Funds - all funds 52,233 596,688 1524,558} 124,363 Total Unrgstrictgd fvnds 453,506 596,688 1629,343} 420,851 Restricted funds Restricted Funds- all funds 740,707 740,707 Total of funds 1,194,213 596,688 1629,343) 1,161,558 The restrirted fund is reslricled to the development of the freehold propety. A major development al the main premises, Garden House, is Currently expected to start in 2028. 17. Analysis of ngt assets betwggn funds Analysis of ngt assets bgtwggn funds - Currgnt poriod Restricted Unrestricted funds funds 2024 2024 Total fvnds 2024 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year 77,637 77.637 399.754 734,755 112,765) 399,754 340,953 393,802 112,7651 Totsl 740,707 458,674 1,199.381 Page 23
Virtualsigrhalure Transaction Rel. PMRX.JZ2T-2A YQ 14 May 2025 13."45."03 BST (UTC *11 D 111 P 26&7 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 17. Analysis of net assgts botwo8n funds {continugdl Analysis of net assgts botwo8n funds - prior period Restricted Unreslricled funds funds 2023 2023 Total funds 2023 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year 91,395 31,577 310,842 112,9631 91,395 772,284 310,842 112,9631 740,707 Total 740,707 420,851 1,161,558 18. Reconciliation of net movement in funds to net cash flow from operating activities 2024 2023 Nel incomelexpenditure for the period las per Statement of Financial Acliviliesl 37,823 132,6551 Adjustments for: Depreciation charges Revaluation of investments 38,910 70,617 (43,5431 38,330 {1981 58,722 66,994 142,8331 18,7161 15,4731 Dividends, interests and rents from investments Decreasellincreasel in debtors Decrease in creditors Net cash provided by operating activities 141,939 36,039 19. Analysis of cash and cash equivalents 2024 2023 Cash in hand 672,162 209,919 Total cash and cash equivalents 672,162 209,919 Page 24
Virtualsigrhalure Transaction Rel. PMRX.JZ2T-2A YQ 14 May 2025 13."45".03 BST (UTC *11 D 111 P 27tt7 BRUNSTAD CHRISTIAN CHURCH DIDCOT IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 20. Analysis of changes in net debt At1 January 2024 Cash flows At31 December 2024 Cash at bank and in hand 209.919 462,243 672.162 209.919 462,243 672.162 21. Related party transactions In common with many Church organisations, trustees make a significant financial contribution to the charity. These donations are made as part of normal giving by Church members and it would not be practical lo quantify the amount donated. Brunslad Christian Church Didcot {BCCD} has a wholly owned trading subsidiary TCD Business Limited which made donations of £63,632 12023.. £64,389) to the charitable company in the current accounting period. At the year end BCCD was owed £8,389 (2023.. £4,515} byTCD Business Limited. BCCD has a wholly owned trading subsidiary Oxfordshire Enterprises Limited. Al the year end BCCD was owed £212023.. £21. 22. Controlling party The ultimate controlling party is the Board of Trustees as detailed on page 1 of the financial statements. Page 25