``` 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 ```