REGISTERED COMPANY NUMBER: 06874952 (England and Wales)
REGISTERED CHARITY NUMBER: 1129484
Trustees' Report and
Financial Statements for the Year Ended 30 December 2023
for
Capstone Church
Nordens
The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY
Capstone Church
Contents of the Financial Statements
for the Year Ended 30 December 2023
|
Page |
Trustees' Report |
1 to 5 |
Independent Examiner's Report |
6 |
Statement of Financial Activities |
7 |
Balance Sheet |
8 to 9 |
Notes to the Financial Statements |
10 to 15 |
Detailed Statement of Financial Activities |
16 to 17 |
Capstone Church
Trustees' Report
for the Year Ended 30 December 2023
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheir report
withthefinancialstatementsofthecharityfortheyearended30December2023.Thetrusteeshaveadopted the
provisionsofAccountingandReportingbyCharities:StatementofRecommendedPracticeapplicableto charities
preparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublic of
Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of the Charity as set out in the governing document are:
- to advance the Christian faith and
- to relieve sicknessand financialhardshipand to promoteand preservegoodhealthby the provisionof 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 Trustees from time to time may think fit.
In settingtheobjectivesandplanningtheactivityof theCharity,theTrusteeshavegivencarefulconsiderationto the
Charity Commission's general guidance on public benefit.
Significant activities
FortheperiodfromJanuary2023toDecember2023,thecharityhadthefollowingobjectivesandundertook the
following activities:
Objectives
To give people opportunities to practice the Christian faith.
Activities
Sunday Service
Special Services
Kids Church?
Fasting and Prayer
Prayer Room
Workshops
Wednesday Worship Practice
Unite Home Groups
Pebbles Toddler Group
Revival Nights
Father's Feast
Easter Weekend
London Prophetic Centre
Prayer March
London Prophetic Summit
Worship Nights
Christmas Party
Capstone Boys Home
Supporting Other ministries
Page 1
Capstone Church
Trustees' Report
for the Year Ended 30 December 2023
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Sunday Service
TheChurchhasitsregularserviceseverySunday.Thisisfreeforalltoattend.Thisservicebeginswithatime of
worshipbythevibrantchurchworshipbandandpreachingbyoneofthechurchleadersontheChristian faith,
followedbyatimeofprayer.Freesnacksareservedaftereachservice.Theserviceisfrom10amto12.30pm. Our
services were broadcastvia differentlivestreamplatforms,for those who are unableto attendthe service in person to
view live or catch up.
Special Services
Our Good Friday, Christmas and New Year's Eve Services were in person and broadcast via our livestream.
Overthecourseoftheyear,wehostedsomeguestspeakers/ministersforourSundayservice.These included
GeorgianBanov (GlobalCelebrations),RobertHotchkin(Men on the Frontlinesand RobertHotchkinMinistries), Cindy
Jacobs (Generals International)
Baby DedicationServices held on 5th and 26th November 2023 were special ceremonieswhere families came together
todedicatetheirchildrentoGod.Duringtheseservices,parentspubliclycommittedtoraisingtheirchildrenin a
Christ-centered home, and the congregation joined in prayer for the children's growth and spiritual well-being.
BaptismSunday,heldon16thJuly2023wasaspecialdayofcelebrationandcommitmentatthechurch. Individuals
publiclydeclaredtheirfaithinJesusthroughwaterbaptism,symbolisingtheirnewlifeinChristandtheirdecision to
followHim.Theservicewasfilledwithjoyfulworship,testimonies,andencouragement,asthechurch community
gathered to support and celebrate those taking this important step in their spiritual journey.
Kids Church
Duringthetimeofthesermononaregular10.00amSundayService,childrenaged12yearsandunderattend Kids
Church, where they get involved in activities and games and are taught from a bible-based curriculum.
Fasting and Prayer
21daysFromJanuarytoFebruary,meetingsareheldeverydayfor21daystopraise,worshipandforteaching of
God'sword.Duringthistime,membersofCapstoneChurchalsoundertakeaperiodoffastingandtimeset aside
corporatelytofocusonprayer.Thiswasalsolivestreamed.Wealsohostedguestministersduringthistime which
included Apostle Che-Ahn, Steve Uppal, Chris, and Summer Shealey.
3daysofprayerandfastingwereheldduringthefirstthreeweekdaysofeverymonthin2023.Thisrecurring event
providedanopportunityforindividualsandcommunitiestocometogether,dedicatingthestartofeachmonth to
prayer, fasting, and seeking God's guidance.
Prayer Room
The PrayerRoomin 2023was a spacewherepeoplecouldcome togetherto prayandconnectwithGod.It was open
on Mondaysfrom 6-10pm,Tuesdaysfrom 6-7am,and Thursdaysfrom 9:30am-12pm.This gave peopledifferent times
to join,whetherin the eveningor morning,for quietprayerandreflection.It was a peacefulplacefor anyoneto seek
God's presence and pray for personal or community needs.
Workshop - Experiencing the Father's Love
A2-DayWorkshopheldon24thand25thFebruary2023wasledbyleadersofthechurch,NickandLindaHolt. This
workshopprovidedanintimatespaceforparticipantstoencounteranddeepentheirunderstandingof God's
unconditionalloveasaFather.Throughteaching,prayer,andinteractivesessions,attendeeswereguided to
experience healing and restoration.
Wednesday Worship Practice
The Church Worship Band meets on Wednesday evenings to practice and rehearse ahead of the Sunday Service.
Page 2
Capstone Church
Trustees' Report
for the Year Ended 30 December 2023
Unite Home Groups
A home group is a small group of members of the churchthat meet in homes of leaders or cafes every fortnight during
schoolterm time. A home groupis based on common interestand/orlocation,for example a MedicalHome group for
those from the medical profession,Youth Home Group for those between the ages of 12 and 24, Family Home Groups
forfamilies.Ahomegroupmeetinggenerallylastsforhourandhalfandmayincludeatimeofworship, prayer,
teachingfrom the bible and fellowshipwith food. The purposeof the home groupsis to create communityand enable
thechurchtocareforitsmembersonadeeperoneononelevel.TheUnitehomegroupswereheldvirtuallyand in
person.
Pebbles Toddler Group
A toddlergroupis heldat the churchevery Wednesdayfrom 11 am to 12pm for toddlersup to the age of 4 and their
parents. It includes a time of free time, rhyme time, snack time. This is open to the community.
Revival Nights
HostedbyPastor.RakeshKurainfromMarch15th-18thin2023,werepowerfuleveningsdedicatedtoseeking God.
These nights were marked by passionate worship, dynamic preaching, fervent prayer and miracles.
Father's Feast
TheFather'sFeastisanoutreachprogram.EveryMondayoftheweek,ateamfromtheChurchcookdinnerin the
ChurchkitchenandservesitforthehomelessofIlford.Themealusuallyconsistsofamaincourse,dessert and
hot/colddrinksandisservedasabuffet.Membersofourteamalsositwiththehomelessandprovideoneon one
supportsuchascounselandprayer.Inrunningthisprogram,we alsoworkwithlocalorganisationsthatsupport the
homelessinthearea.Thisprogramis inlinewiththemainvisionoftheCharitytoprovidecommunityservicein the
form of relieving sickness and financial hardship amongst other things
Easter Weekend
From6th-9thApril2023wasasignificanttimeofcelebrationandoutreach.Theweekendbeganwith evangelism
trainingandoutreach,equippingparticipantstosharethegospelmessageofJesuswiththeircommunity.On Good
Friday,aspecialservicewasheldtoreflectonthesacrificeofChristandHiscrucifixion,markedbyreverence and
gratitude.EvangelistsKristianandVirginniawereministeringduringtheweekend.Theweekendculminatedin a
joyousEasterSundaycelebration,honouringtheresurrectionofJesusandthevictoryoversinanddeath.Itwas a
powerful time of spiritual renewal, outreach, and celebration of the core message of the Christian faith.
London Prophetic Centre - Mentoring
ThesecondSaturdayofeverymonthfrom1pmto5:30pmwehadinpersonmentoringdays.Thepurposeof the
LondonPropheticCentreistogatherprophetsfromacrossLondonandequipandbuildthemuptobeeffective in
ministeringtopeople.Throughteaching,mentorship,andworship,participantswereencouragedtodevelop their
spiritualsensitivityandlearnhowtohearfromGodmoreclearly.SteveTebbs,RobCates,AdeleRichards, Simon
Braker, Chris Larkin and others contributed to these mentoring days
Prayer March
PrayerMarchinIlfordandRomfordtookplaceduringMarch2023,runningfromMondaytoWednesdayeach week.
Participantsgatheredtwicedaily,from6-6:30AMand1-1:30PM,towalkthroughtheircommunitiesinprayer. The
purposeofthemarchwastocoverthetownsinprayer,seekingGod'sguidance,protection,andblessingsfor the
area. It was a time for unity,as individualsfrom differentwalks of life came togetherto prayfor theircities, residents,
and local needs, creating a visible expression of faith and hope.
London Prophetic Summit
Page 3
Capstone Church
for the Year Ended 30 December 2023
Trustees' Report
A conferencewasheldfrom29thJune2023to1stJuly2023withministerssuchas SteveTebb,SimonBraker, Emma
Stark,CindyJacobs,Dr.SharonStone,andPreethyKurianThissummitbroughttogetherbelieversseekingtogrow in
theirpropheticgiftingsandreceivefreshinsightintoGod'splansforthechurchandtheworld.Through powerful
worship,in-depthteachings,andpropheticministry,attendeesexperienceda dynamicatmosphereof revelation and
impartation.Each speakershareduniqueperspectivesand propheticinsights,equippingand empowering participants
to live out their prophetic calling with boldness and clarity.
Worship Nights
BeholdHimWorshipnightshostedbySteveTebbwasheldfrom8thOctober2023to26thOctober2023and were
eveningsof extendedtimes of worshipandprayer.Attendeescame from all over the countryandoverseasto be part
of these nights.
Christmas Party
Held on 8th December 2023 was a joyful and festive gatheringfor the CapstoneChurchcommunity.Filled with holiday
cheer,theeventfeaturedfunactivities,festivefood,andlivelyentertainmentforallages.It was a timeof fellowship
andcelebration,wherefamiliesandfriendscametogethertoenjoytheChristmasseasonandreflectonthejoy of
Christ'sbirth.Thepartycreatedanatmosphereof warmthandtogetherness,makingita memorablehighlightof the
holiday season for everyone involved.
Capstone Boys home
CapstoneChurchhastakenacommitmenttosupport10orphanboysforaperiodof5yearsintheIndiancity of
Hyderabad.Theboysareagedbetween6and11years.Indoingso,wehavepartneredwithacharityin Hyderabad
calledAshaJyothiwhichworkswithorphansandchildrenofsingleparentsamongstotherthings.Theboys are
providedwithaccommodation,food,clothingandaneducation.Thehomewheretheboysarehousedis called
Capstone Boys Home.
Supported other Christian ministries
ThisyearwehaveextendedsupporttoGlobalCelebration,JohnFoundation,BurningandShiningLamp Ministries;
HIMMinistries;IndianEvangelicalTeamandvarioushousesofprayerandchurchesacrosstheUK, prayer
missionaries, and various local missions.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Thecharityiscontrolledbyitsgoverningdocument,adeedoftrust,andconstitutesalimitedcompany,limited by
guarantee, as defined by the Companies Act 2006.
CapstoneChurchis a companylimitedby guarantee,incorporatedon 9 April2009, governedby its Memorandum and
Articles of Association. It registered as a charity with the Charity Commission for England & Wales on 8 May 2009.
New Trustees are appointedby the members. The Trustees may appointa personwho is willingto act to be a Trustee,
either to fill a vacancy or as an additional Trustee.
NewTrusteesarebriefedontheirlegalobligationundercharityandcompanylaw,thecontentofthe Memorandum
andArticlesofAssociation,thecommitteeanddecisionmakingprocesses,thebusinessplanandrecent financial
performance of the Charity.
The Trustees are responsiblefor the managementof the risks faced by the Charity.All significantactivities undertaken
are subjectto risk review as partof the initialprojectassessmentand implementation.The Trusteesreview the major
risks that the Charity faces on a regular basis and controls are established accordingly.
TheTrusteesareawareofthemajorriskstowhichtheCharityisexposed,inparticularthoserelatedtothe projects
and finances of the organisation, and are satisfied that systems are in place to mitigate exposure to the major risks.
Page 4
Capstone Church
Trustees' Report
for the Year Ended 30 December 2023
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 06874952 (England and Wales)
Registered Charity number
1129484
Registered office
316 High Road
Ilford
Essex
IG1 1QW
Trustees
Ms S George
Mr J V George Lead Pastor
Mrs P Kurian Director
Independent Examiner Nordens The Retreat 406 Roding Lane South Woodford Green Essex IG8 8EY 26/09/2024 Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................
Mrs P Kurian - Trustee
Page 5
Independent Examiner's Report to the Trustees of
Capstone Church
Independent examiner's report to the trustees of Capstone Church ('the Company')
IreporttothecharitytrusteesonmyexaminationoftheaccountsoftheCompanyfortheyear ended
30 December 2023.
Responsibilities and basis of report
As the charity'strusteesof the Company(andalsoits directorsfor the purposesof companylaw)youare responsible
for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfiedmyself that the accountsof the Companyare not requiredto be auditedunder Part 16 of the 2006 Act
andareeligibleforindependentexamination,Ireportinrespectofmyexaminationofyourcharity'saccounts as
carriedoutunderSection145oftheCharitiesAct2011('the2011Act').IncarryingoutmyexaminationI have
followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since yourcharity'sgross incomeexceeded£250,000yourexaminermust be a member of a listedbody.I can confirm
thatI am qualifiedto undertakethe examinationbecauseI am a member of the Instituteof CharteredAccountants in
England and Wales, which is one of the listed bodies.
Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnectionwith the
examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhich attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Lorraine Curtis
The Institute of Chartered Accountants in England and Wales
Nordens
The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY
Date: .............................................
Page 6
Capstone Church
Statement of Financial Activities
for the Year Ended 30 December 2023
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
EXPENDITURE ON
Raising funds
2
Charitable activities
Cost of activities
Depreciation
Total
NET INCOME/(EXPENDITURE)
Other recognised gains/(losses)
Gains on revaluation of fixed assets
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD |
30.12.23
Unrestricted
fund
£
410,994
148,701
359,191
15,483
523,375
(112,381)
200,000
87,619
1,174,154
1,261,773 |
30.12.22
Total
funds
£
386,508 |
|
|
187,513
160,766
16,628 |
|
|
364,907 |
|
|
21,601
- |
|
|
21,601
1,152,553 |
|
|
1,174,154 |
The notes form part of these financial statements
Page 7
Capstone Church (Registered number: 06874952)
Balance Sheet
30 December 2023
Notes
FIXED ASSETS
Tangible assets
6
CURRENT ASSETS
Debtors
7
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
8
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS
Amounts falling due after more than one year
9
NET ASSETS
FUNDS
11
Unrestricted funds
TOTAL FUNDS |
30.12.23
Unrestricted
fund
£
1,566,063
-
154,826
154,826
(29,968)
124,858
1,690,921
(429,148)
1,261,773
1,261,773
1,261,773 |
30.12.22
Total
funds
£
1,367,563
44,870
241,277 |
|
|
286,147
(28,587) |
|
|
257,560 |
|
|
1,625,123
(450,969) |
|
|
1,174,154 |
|
|
1,174,154 |
|
|
1,174,154 |
The charitablecompanyis entitledto exemptionfrom audit under Section477 of the CompaniesAct 2006 for the year
ended 30 December 2023.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
30 December 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable 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.
The notes form part of these financial statements
Page 8
Capstone Church (Registered number: 06874952)
Balance Sheet - continued
30 December 2023
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicableto charitable companies
subject to the small companies regime.
The 26/09/2024 financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
.............................................
Mr J V George - Trustee
.............................................
Mrs P Kurian - Trustee
The notes form part of these financial statements
Page 9
Capstone Church
Notes to the Financial Statements
for the Year Ended 30 December 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financialstatementsof the charitablecompany,whichis a publicbenefitentityunderFRS 102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities: Statement
ofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicablein the UK and Republicof Ireland(FRS 102) (effective1 January2019)', Financial
ReportingStandard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the
CompaniesAct2006.Thefinancialstatementshavebeenpreparedunderthehistoricalcostconvention, as
modified by the revaluation of certain assets.
Income
All incomeis recognisedonce the Charityhas entitlementto the income,it is probablethatthe incomewill be
received and the amount of income receivable can be measured reliably.
Donationsarerecognisedasincomewhenreceived,exceptincircumstanceswherethedonorspecifies the
time period that the donation relates to, in which case they are recognised as income in that period.
Donations received with imposed restrictions are classified as restricted funds.
On receipt,donatedprofessionalservices and donatedfacilitiesare recognisedon the basis of the value of the
gifttothecharitablecompanywhichistheamounttheCharitywouldhavebeenwillingtopayto obtain
servicesorfacilitiesofequivalenteconomicbenefitontheopenmarket;acorrespondingamountis then
recognised in expenditure in the period of receipt.
Event income consists of registration and other fees for charitable events.
IncometaxrecoverableinrelationtodonationsreceivedunderGiftAidordeedsof covenantis recognised at
the time of the donation.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement
and the amount of the obligation can be measured reliably.
Charitableactivitycosts are incurredon the Charity'sreligiousoperations,andincludesupportcostsand costs
relating to the governance of the Charity apportioned to the charitable events.
Expenditureisaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregate all
costrelatedtothecategory.Wherecostscannotbe directlyattributedtoparticularheadingstheyhave been
allocated to activities on a basis consistent with the use of resources.
Company status
TheCharityisacompanylimitedbyguarantee.ThemembersoftheCharityaretheTrusteesnamedin the
TrusteesReport.In the event of the Charitybeingwoundup, the liabilityin respectof the guaranteeis limited
to £10 per member of the Charity.
Tangible fixed assets
Depreciationis providedat the followingannualrates in orderto write off each asset over its estimated useful
life.
Fixtures and fittings- 15% on reducing balance
Computer equipment- 25% on reducing balance
Taxation
The charity is exempt from corporation tax on its charitable activities.
Page 10
Capstone Church
Notes to the Financial Statements - continued
for the Year Ended 30 December 2023
1. ACCOUNTING POLICIES - continued
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.
Foreign currencies
Assetsandliabilitiesinforeigncurrenciesaretranslatedintosterlingattheratesofexchangerulingat the
balancesheetdate.Transactionsinforeigncurrenciesaretranslatedintosterlingattherateof exchange
rulingatthedateoftransaction.Exchangedifferencesaretakenintoaccountinarrivingatthe operating
result.
Pension costs and other post-retirement benefits
Thecharitablecompanyoperatesadefinedcontributionpensionscheme.Contributionspayableto the
charitablecompany'spensionschemearechargedtotheStatementofFinancialActivitiesintheperiod to
which they relate.
2. RAISING FUNDS
Raising donations and legacies
Raising donations and legacies |
|
|
|
30.12.23 |
30.12.22 |
|
£ |
£ |
Support costs |
103,831 |
187,513 |
3.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
|
30.12.23 |
30.12.22 |
|
£ |
£ |
Depreciation - owned assets |
15,483 |
16,628 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees'remunerationor other benefitsfor the year ended 30 December 2023 nor for the year
ended 30 December 2022.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended30December2023norfortheyear ended
30 December 2022.
Page 11
Capstone Church
Notes to the Financial Statements - continued
for the Year Ended 30 December 2023
5. STAFF COSTS
The average monthly number of employees during the year was as follows:
|
30.12.23 |
30.12.22 |
Direct charitable activity staff |
5 |
4 |
No employees received emoluments in excess of £60,000.
6. TANGIBLE FIXED ASSETS
COST OR VALUATION
At 31 December 2022
Additions
Revaluations
At 30 December 2023
DEPRECIATION
At 31 December 2022
Charge for year
At 30 December 2023
NET BOOK VALUE
At 30 December 2023
At 30 December 2022 |
Freehold
property
£
1,300,000
-
200,000
1,500,000
-
-
-
1,500,000
1,300,000 |
Plant and
machinery
£
4,009
10,673
-
14,682
601
2,112
2,713
11,969
3,408 |
Fixtures
and
fittings
£
110,877
1,600
-
112,477
76,716
5,445
82,161
30,316
34,161 |
Computer
equipment
£
114,820
1,710
-
116,530
84,826
7,926
92,752
23,778
29,994 |
Totals
£
1,529,706
13,983
200,000 |
|
|
|
|
|
1,743,689 |
|
|
|
|
|
162,143
15,483 |
|
|
|
|
|
177,626 |
|
|
|
|
|
1,566,063 |
|
|
|
|
|
1,367,563 |
Cost or valuation at 30 December 2023 is represented by:
Valuation in 2020
Valuation in 2021
Valuation in 2022
Valuation in 2023 |
Freehold
property
£
935,306
364,694
-
200,000
1,500,000 |
Plant and
machinery
£
-
-
4,009
10,673
14,682 |
Fixtures
and
fittings
£
110,256
-
621
1,600
112,477 |
Computer
equipment
£
108,118
4,200
2,502
1,710
116,530 |
Totals
£
1,153,680
368,894
7,132
213,983 |
|
|
|
|
|
1,743,689 |
Included in freehold property is land at an estimated cost of £575,000 which is not depreciated.
Page 12
Capstone Church
Notes to the Financial Statements - continued
for the Year Ended 30 December 2023
7. |
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
|
|
30.12.23 |
30.12.22 |
|
|
£ |
£ |
|
Amounts owed by group undertakings |
- |
44,870 |
8. |
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
|
|
30.12.23 |
30.12.22 |
|
|
£ |
£ |
|
Bank loans and overdrafts (see note 10) |
26,000 |
26,000 |
|
Social security and other taxes |
2,613 |
1,853 |
|
Other creditors |
377 |
734 |
|
Wages Payable |
978 |
- |
|
|
29,968 |
28,587 |
9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
|
|
|
|
30.12.23 |
30.12.22 |
|
|
£ |
£ |
|
Bank loans (see note 10) |
429,148 |
450,969 |
Bankloansaresecuredbywayof a fixedandfloatingchargeovertheassetsof thecharityandare repayable
by monthlyinstalmentsover a periodof 20 years.The interestrate per annumis equalto the aggregateof the
margin rate (5.25%) and the base rate which during the period was 5.25% (2022 - 3.5%)
PersonalguaranteeshavebeenprovidedinrespectofthebankloanbytheTrusteesandcertainclose family
members of the Trustees.
10. LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans
Amounts falling due between two and five years:
Bank loans - 2-5 years |
30.12.23
£
26,000
429,148 |
30.12.22
£
26,000 |
|
|
450,969 |
Page 13
Capstone Church
Notes to the Financial Statements - continued for the Year Ended 30 December 2023
11. MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
410,994
TOTAL FUNDS
410,994
Comparatives for movement in funds
Unrestricted funds
General fund
TOTAL FUNDS
Comparative net movement in funds, included in the above are as
Unrestricted funds
General fund
TOTAL FUNDS |
At
31.12.22
£
1,174,154
1,174,154
Resources
expended
£
(523,375)
(523,375)
At
31.12.21
£
1,152,553
1,152,553
follows:
Incoming
resources
£
386,508
386,508 |
Net
movement
in funds
£
87,619
87,619
Gains and
losses
£
200,000
200,000
Net
movement
in funds
£
21,601
21,601
Resources
expended
£
(364,907)
(364,907) |
At
30.12.23
£
1,261,773
1,261,773
Movement
in funds
£
87,619
87,619
At
30.12.22
£
1,174,154
1,174,154
Movement
in funds
£
21,601
21,601 |
|
|
|
|
|
|
|
|
Page 14
Capstone Church
Notes to the Financial Statements - continued
for the Year Ended 30 December 2023
11. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
At
31.12.21
£
1,152,553
1,152,553 |
Net
movement
in funds
£
109,220
109,220 |
At
30.12.23
£
1,261,773 |
|
|
|
1,261,773 |
A currentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedinthe above
are as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Incoming
resources
£
797,502
797,502 |
Resources
expended
£
(888,282)
(888,282) |
Gains and
Movement
losses
in funds
£
£
200,000
109,220
200,000
109,220 |
|
|
|
|
12. RELATED PARTY DISCLOSURES
Duringtheyearunrestricteddonationstotalling£NIL(2022:£38,739)weredonatedbytrusteesand related
parties.
Page 15
Capstone Church
Detailed Statement of Financial Activities
for the Year Ended 30 December 2023
Detailed Statement of Financial Activities
for the Year Ended 30 December 2023 |
|
|
|
30.12.23 |
30.12.22 |
|
£ |
£ |
INCOME AND ENDOWMENTS |
|
|
Donations and legacies |
|
|
Donations - non-gift aid |
62,475 |
41,228 |
Donations - gift aid |
294,676 |
265,354 |
Charitable activities |
6,357 |
6,875 |
Income from Gift Aid |
47,486 |
73,051 |
|
410,994 |
386,508 |
Total incoming resources |
410,994 |
386,508 |
EXPENDITURE |
|
|
Other trading activities |
|
|
Bad debts |
44,870 |
- |
Charitable activities |
|
|
Offerings |
140,556 |
113,780 |
Food and refreshments |
12 |
44 |
Helps |
25,802 |
18,080 |
|
166,370 |
131,904 |
Support costs |
|
|
Management |
|
|
Wages |
117,845 |
97,311 |
Social security |
5,550 |
(2,433) |
Pensions |
2,466 |
2,343 |
Rates and water |
3,890 |
3,820 |
Light and heat |
15,194 |
12,336 |
Telephone |
2,376 |
3,696 |
Postage and stationery |
1,424 |
483 |
Advertising |
2,377 |
2,475 |
Sundries |
686 |
1,002 |
Subscriptions |
8,740 |
7,771 |
Accomodation |
23,953 |
17,894 |
Computer expenses |
7,638 |
473 |
Materials |
7,345 |
5,480 |
Cost of events |
12,833 |
9,229 |
Food and refreshments |
24,462 |
13,990 |
Materials |
- |
932 |
Professional fees |
229 |
8,144 |
Sound & Media |
5,722 |
1,007 |
|
242,730 |
185,953 |
This page does not form part of the statutory financial statements
Page 16
Capstone Church
Detailed Statement of Financial Activities for the Year Ended 30 December 2023
Detailed Statement of Financial Activities
for the Year Ended 30 December 2023 |
|
|
|
30.12.23 |
30.12.22 |
|
£ |
£ |
Management |
|
|
Finance |
|
|
Bank interest |
35,366 |
24,958 |
Information technology |
|
|
Repairs and maintenance |
15,166 |
2,984 |
Plant and machinery |
2,112 |
601 |
Fixtures and fittings |
5,445 |
6,029 |
Computer equipment |
7,926 |
9,998 |
|
30,649 |
19,612 |
Other |
|
|
Accountancy |
3,390 |
2,480 |
Total resources expended |
523,375 |
364,907 |
Net (expenditure)/income |
(112,381) |
21,601 |
This page does not form part of the statutory financial statements
Page 17