CIL4RThY REGISTRATION NUMBER 1129633 COMPANY REGISTRATION NUMBER 06780477 AUDACIOUS CHURCH CONSOLIDATED ACCOiJNTS 'ACZXAY62 212r2023 COMPANIES HOUSE A19 *240 Hackeryoung (krtetedAtCrntsnts
AUDACIOUS CHURCH SAKeir NTSmith RPR8y D J McPhai] J Bra¢¢die D K Slwpe 1129633 Company number 0678(M77 Unit 6 Tzinity Way M3 7BB Auditon 6 Broadfield Cowl Broadfield Way Sh¢ffi¢ld S8 OXF Bke Barclays Ballk pl¢ P.0 Box 1385 Sheffidd S9 2WV Lloyd8 Bank Market Street Ml IPW Solldtors Pride PaTk DE24 8QR
ALACIOUs CHURCH CONTEKrs StstemeJ)i of ¢nMte¢s' vesponnbiliti Consolid&tsJ alemt of fmaDci81 1VitieS io Stat¢llMt of fiDallcd xiviti 12 BAlan¢e sheet 13 Stst¢Me of ¢ash tlows 14 15-35
AUDACIOUS CHURCH TRuS. REPORT (ThCLUDING DREoS, REPORT) FOR THE YEAR ENDED 31 MARCH 2023 finallcial stst¢meDts #nd comply with the ¢IOTity's Memowidum and Articles of AssLKiAt1o the Compatlles Act 2(X16 and -Ac¢ountin8 and Rwting by Charities: Ststernent of Rem Practice applicable to and Republi¢ of IrelaThl (FRS 102) (effectiv¢ l J8nw 2019)-. Th¢ ¢brity'$ obie¢tives ar¢ sd out by th¢ tD deed u: the adv•n¢emt of the Christian fall. the relief of sickness and financi b¥dsbip •nd to trolle 4nd PT¢SUY¢ good h¢81th by the provision of These objeclives are Khieved throu8b the foll¢ywing activities: ev¢nts 8Dd meeting5 to promote the CbTiMi8n faith which aTr design to be enthusi8sti¢. livety. fun and eth¢•tional. are held ott a regular basi4 are open to all agts and aye not dwdent on 11 cla 0108 holi8tt¢ healthy living forb(Mly. soul & spiiiL inspiration & iiJpart4tson io ¢bub leaders aDd other ¢hwch muttb¢rs from the valu¢s of th¢ Bible wbeff possible briDgitig practi 8pplic&tion to the message: iwh)ding IK>sting Lwninous the (Jllturt summiL Aud¥iow College. and involvement in the church's programm. the charity sId undertak Details of the activities by tbe thity thring the pui(Ml ate 8iv¢a A¢bievcments 8nd perfomwi¢e. Obj¢ctive l - to advance the Christsan faith in Tall with the Statemtnt ill ways aDd ID sucb parts of th¢ UK or th¢ world os th¢ church leathb from time to lime may tbink fiL We have five campu5ts of Churc in Mallcbester, Chesttt. Cardiff, Sheffield and GenM In ur Manchester campus, we bave thTee physical locatiOll5 meeting ID Salfor4 Centrnl Mats¢hester. BY and HaDdfort& Wilmskny. AcT05S our campuses we ar¢ TuDDI a lDbIll¢d ten pby5i¢al we¢k¢Dd servi¢¢s rosS all the locations. There are currently Around 7,WNJ pts)ple who Call Audxious their home ond we hve been 8veAgitig aTound 2,8W peopk in any yell w#k ovff our weekend setvices. We have aD expectation that this figure will ci¥Dlinue to Ince, as it1th8 done e4)D8ithtty siti¢e the church s¢arted This continued owth can be attr]ted to a strong ownelship of our ¢burth ¢uliuff of bctD8 ftarles81y (kvotol wildly Objective 2 - To r¢li¢ve sickness & financi Iwdship and to protno and PTeserve good lulth by the provisions of full goods or seryiccs of any kind iucluding through the Fmision of coluulg and support in such parts of th¢ UK ond the world &4 the church leaderslllp from tlmtrtl]rne thijjk fit.
AUDACIOUS CHURCH TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONfiNUED) FOR THE YEAR ENDED 31 MARCH 2023 Aeldtveents performance (eOAthbuwl) Th¢ church Conlitiues to provide pastor81 C8Te physical]y. spiiihjally. alld emotionally for its entir¢ or8aDiSatio1. in¢ludi08 Audacious Foundatio Compssion Thild Swwsbip and Maunillan Cancer Manchester Campus we Ive re£enty lMPleted a five-year w>itsl to raise fiuNts th8t will see a Jn our Swid•y 8eThi¢¢8. we ¢onlinu¢ to S¢¢ D¢¢ds met qs we pJay coryoTrty foT health. whol¢ness. finan¢iAI ond fan)ily issues. Ea¢h week we receive from ind?vithwls the wnpcgation who l¢t us know of Objective 3 - To advaDce eibJ¢8tion iti such woys •nd in sucb p•ts of th¢ UK or worl4 as the chwch leader51up from titDe to lime think fit. Audacious ¢ODtiDU¢S to train IndivS at all leveb of life. w¢¢kml services Contin to ethicate pra¢ti¢al applicatio along with our practical midweek lifr and ¢ours¢s teach indiv1thl5 the valuffj vision and culture of our chuTch and elwbles peopl¢ to ¢boDse pti1 training that wiu help ¢4UiP their lif¢. We nm an aDnual leadersbip trainin8 retre for ovfJ 2(X) voluntea5 in the life of ¢burcl to wjip thejn practically to aDd develop iti tbeir l¢a¢krsbip Tok& Audacio£ Thurch OWDS I(MYh of the share capital of E4vJearn Worldwide Limit&t a tradmg company which g¢ll¢rat¢s fimds for the cburc]L Ethyour Worldwide Lio)it¢d ¢)p¢rates from tbe chuTch preTrise5 and its pincipal activity 13 the provisioD of carpathng. A¢ 31 moh 2023 the net usets of Endeavour Worldwide Limi*d were £218,402 (2022: £65.834). Its turnover for the year ended 31 March 2023 was £318.489 (2022: £207.711) other in¢om¢ tot•ll¢d.£oil (2022: £4.295). Its total r¢sour¢es expentsd were £99.548 (2022: £85904) leaving a profit for the year of £218941 (2022: £126,102) before Eift aid donations to the parent whicb generates foT the ¢hurclL Athious Publithing Limited (wates from the Cburch prcmiscs and its Principal activity 15 tDusic sale5 atsd obtsining royalties. At 31 March 2(Y23 the net assets of Audacious PublisbiDg Limited were £1,745 (2022.. £526). Its 0Ver for the yeaT ended 31 Marcb 2023 was £7.626 (2022.. £1,783) alld other income tolalled £IO.(KK) (2022: £683). Its total resources expended wett £15.882 (2022.. £1,941) leaving th profit for the y¢8r of £1.744 (2022: £525) before gift aid doll) to the parent ¢onwatioD meetitig iti Geoev4 Switz¢rland. This is a separate legd eDtity in Switzerland and has 4 year end of 31 Decembcr. At 31 De¢unb¢r 2022 the Det &wets of Auth10 Swit3£rlaDd Associatioo wu¢ £21.281 (2021: £tiil). its total incon T¢soum for the year wue £129,720 (2021: £nil) and its ¢otal Tesources expended were £108,439 (2021: £Dil). Th¢ net in fund8 in the was £21281 (2021: £nil).
AUDACIOUS CHURC TRUSTEES, REPORT (INCLIJDINC DIREcfoRS' REPORT) (CONfiNUED) FOR THE YEAR ENDED 31 MARCH 2023 FID•d revkw Jn¢oming resourr£s during the Friod totalled £3294.138 (2022: £3224237) b85 been at a level suffi¢i¢nt to satisfactorily achieve our collJllllttDcnts and WMkft. Th¢ Stat¢ment of Financial Activitie5 shows a JKt izKtrase in fuDds before the revaluation of tsngibl¢ fixpAI ass¢ts of £112.811 (2022: £883,042). Restricd futtds totalled fA.5(KI.654 (2022.. fA.295.817) ond Unrestricted funds £5,630567 (2022: £5,722.593). The freety available unrestricted funds 31 March 2023 was £736,095 (2022: £901,614). The knJ8t¢es woum wisb kn irm8¥e tbis in the futw¢ to allow th¢ church to The Consolidated Ststement of Fin¥ncial Activities $IS a incTe&tt in funds before the revaluation of laDle fixed assets of £287.879 {2022: £949.382). InGoming r¢SoU for the wiod totalled £3,649,643 (2022.. £3J68.422). Restricted fillth totalled £4.51X).654 (2022: £4295,817) aDd UDrestricted funds £5.871.993 (2022: £5.788951). The freely avai]abk UDruthctrd fuDds at 31 klarcb 2023 was £947.696 (2022- £967,974). It is the policy of tbe clwity thai Un$tricd funds vkni¢b have nrt been desi for a wific use should be mailltsitied at 4 level quivalent to brfween three and six oxmth's expenditure. The trsteeS CODsider that serva at this level will e8re thaL in the event of & signthcant dmp in funding* they will bc able to CODlinue the charity's cumt activities while cmsideratiOD is given to ways in which additional funds may be raise Its this p1(1 we have nI]lld to rqmy ¢apifal off our ¢burch hIdin8 logo •Dd we nM)ved our logn in 2023 re41ucing our loan rdts as well ay our lom fm 20 to 15 ye8rs. of whi¢b w¢ now have both a fin4D¢ial and b¢nefit to we seek to WO alongside others. We are now over the impact of Covi&19 with the car now COD5ldab1Y prtrcovid levels. DoDatioJ]s and offlg5 have 8150 remain COD5iSlettL our finall$ continue to be stron8. The tsustees have assessed th¢ major risks to l¢b the ¢hty is expKe4 and ar¢ satisfied that systeDk8 are in place to rtiiti8ate exposure to the major risks. 8uidan¢e on public benefit wh¢D rcvi¢wiDg th¢ trwst's din and objectives and in plaDlliDg futse a]v]eS. Future direction We have exciting plans to develop our existing 5its to contin the oth a1 cxpansion of the wbi¢b vAll in turn generdte additional fimds so that we can continue kn he]p the vuinerable and expand our reach. The B1 is to see a landmth and iC4lDiC building can be used by all ateas of the gatew8ys of our city. with nutnerous breakout rwms aTMI a car puk over undtiple stows would facilitste all our needs as a chw¢h
AUDACIOUS CHURCH TRUSTEES. REPORT (INCLiIDING DIREcfoRS' REPORT) (CoD) D¢rxmber 2008 and bet•Je a ttyst#¢d eh•ity on 15 MAY 21x19. It comn adivities on l October 2009 when it took over th¢ asset4 liabilitKq of AdlOUS City (charity nwnber 1120164) and The Faith7Ath {th¥ity Dumber 1052562). Jn 2012 the charitsble cryy cbang&l 115 name frozn Audacious SAKeir NTSmith RPRay D J McPbwl J BrAwdi¢ Following AOG guideliD¢S th¢ ¢bw¢b i¥ to knve •t l¢ast tbff¢ at atsy otse time. one of whom saluied Ite¢s. thett is also key DwtweDt Mlwies of £173.012 {2tr22: £165,667) vthicb bav¢ att y1U¢e¢ Each of the kntstee8 b&8 confirn)tl th•t tkn Inf(nlon of vAhith Ibey are Thore vknicb is relevortto tbe
AUDACIOUS CHURCH STATEMENT OF TRUSTEES. RESPONSJBILITILS FOR THE YEARENDED 31 MARCH 2023 The tnee$, wkn are Blso the direc of Audaci Church for the purpo$¢ of compHny law, are Te4JOD5Jble for pr¢paring the Tntte8. Rewrt and the %ULts iti with applicable law and United KJD8dom of the state of affaiTS of the ¢h¥rit8ble ¢ompaDy 8r¥l th¢ group and of the iDcoming resour¢u and appli¢atiOD s¢l¢d suitabl¢ aGwmtiD8 policies alld thcD appty them ¢onsistetitly: ¢ompaDy will Contill in operatio The trustees are rwnsibl¢ for keeping prnpeT accouDting COrdS thai disclose with rwon•ble accwacy at any time the financial position of the ¢lrItable company and eDable them to ensure that the a¢wunts eiPty with the CompaDies Aci 2W6. Thry are tho Ttspo8Ible fty safeguarthng the &ssets of the chazitable company aDd the 8roup and IKn¢e for taki tt•$*ble steps th¢ pr¢v¢ntion aDd dete£tion of fraud and other ifftgularities.
Hackeryoung Chgrterwj Accovntsnts 6 BrorAlfield C4M]rt Broadfield Way Sheffield S8 OXF INDEPENDENT AiIDITORS' REPORT TO THE MEMBERS AND TRUSTEES OF AUDACIOUS CHURCH Oplnlon We have audited the financial statements of Awlxious Clwrch (the '¢lwitable Comy} for the year ended 31 Mah 2023 wbich cornprise the conso]idatd StsleMe of Financial Activitie4 the paTent ststeMe of Financial Activities. the Consolidated Balance the parent BalaDC¢ SheeL the consolidated StsJnent of Si8nificaDt accouDtiD8 policies. The reporti framework that beeD applied in their prymtion is applicabk law and United Kingthm A¢wmting Standards. including FiDanci Rwtitig Si¥ndaTd 102 The Financial Rep(Jrting SiaFthrd applicable IA th¢ UK and Republic of Irela (Ullited KiDgdom Grn¢TaUy Accepted Accounting Pra¢tic¢). 've i true and fair view of the state of the wup and the p8rrnt clwitable cOmY'S affairs &8 at 31 March 2023 and of its io¢oiw 4ylicatton OfTe for the year then eDtsI" B1$ for optslon W¢ wnduct¢d our audit in acclYd with ILrnatioDal Staodoth on Auditing (UK) USAS (UK)) az applicable law. Jrsponsibilities for the audit of s¢¢tion of our rert. We Are IndepDdent of the clwitable compony in accordance pith the ethi re4wilts that aT¢ r¢l¢vant to OUT audit of the a¢¢ounts in the UL iDcluding the FRC'S Ethical Standart and w¢ bv¢ fulfiw our other ethical responsibilities iti 4¢¢ordan¢¢ with th¢ basis for our opinion. Conclushm relating to going ctrjKern In auditing the finallcial ststemts, we bave CODchNled thal the trusttts. of the 80iD8 CODC¢rn basi5 of Co[ltionS tknL individually or ¢olle¢tivety. may ¢ast significant doubt OD the chaTity'S ability to ¢Onlie as a 80iD8 ¢oncern for a peTiod of at le•st twelve months from Whe the financial stakmthts are authorised for issue. OUT r¢spoDsibilitics and the rwThilItS of the truskes with to going concern are de8cnW in the relevant sectio of thi8 rworL
Hackeryoung Chartered ¢countsns INDEPEIYDENT AUDTTORS. REPORT TO THE MEMBERS OF AiIDACIOUS Other knforwtlon witbin the aDDuaJ reporL OPiDioll OD the fitiancll statements does not cover the other infonn1 40 except to the extent otherwise expli¢itty Stated in our r¢ixirL we do cxpress Dy fonn of assur other illformalioD is Mal¢TIlY iticonsirtrnt with th¢ financial slalements or ow knowledgc obtaine41 in th¢ course of the audiL or otbThix appegrs to be matuially Misst If w¢ identify su¢b material OplDlons on other matters PTescnlKd by the Compmks Art 2006 the infonnation given in the Tn. Report which includes th¢ DI(tors. Report Prepared foT the fiDancial 5tatem¢llts: #Dd applicabl¢ kyl TequiTem Matten whkb we requlred to report by ucep¢itiA In the light of the knowledge and under of the clwity 8Dd its environt obtained in the couzsc of Teptht We bave nothing to rep)Tl in respxl of the followm8 mattaS ID relation to whi¢h the Compatii¢s Act 21x16 requires us to reprt to you ic in our (ylliion". from bron¢h¢s not visit¢d by or
Hackeryoung INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF AUDACIOUS CHURCH (Co) Resp•Mslbllltleg of the trustee¥ As explained 0¢ fity io the ststement of tnLStees' re5wb11iti the ts1e$. who Iwe also th¢ dir¢¢tors of the charitable COD)pw for Ih¢ pwpw of c41mpaDy law, are tesponsible for the prep4rion of th¢ finwi41 stst¢ments and for beiDg satisfied that they give a tsue and fair view. •od for internal IxJntToI th¢ for assessing the cbty's abilty to c¢mliDue #s a goin8 Conce disclosing. as alicable. matters related to going concern aTMJ using the going concern basis of a¢¢outiting unkss the tsvstees either intend to bquidate the Our obi¢¢tives are to obtsin re&sonabk assur8Dce about whether the fiDaDcid stalernents a8 a whole are free opinion. R¢a5onable asslly is a bi8b level of a$surn but is not a guarwtr that ao audit wnthjct ID from fraud or error and are considered Mater1 ic individually or ID tb¢ aggTegate. thry could reasonably be B&sed on our unda5taDdiDg of the clwity aDd the 5XtOT ID wbith il op¢r8tffj we idcntifi¢d th¢ priApA1 risks of no0mPliance with law5 and ryu]atiOJL% related to the acts by the ¢barity. which wete contrary to applicable laws and iDcluditig and we cotssidel the extent to which nonwcompiiance JDight have a material effert on the fllJall 5tstem¢nts. We 4180 considered those laws and reguhtions that have a dire¢t impa¢t on the pryrntion of th¢ financial statemrnts sucb &$ the CompaDies Ad 20(. We evaluated m4DagenMt's i¢tiveS and for frauthllent maDiPU]ation of the fiJn¢i41 statem¢ttts (incfvdll18 the Charitys net income forthe year. they related to the fiDaDrial Sta*mts. aud in testing of journ4Js and ¢voluating wh¢ther there was evidence of
Hackeryoung INDEPENDENT AUDITORSI REPORT TO THE MEMBERS OF AUDACIOUS CHURCH (CONTINUED) compliance with laws and re8ula¢ions is from the ¢vents aTMI traDtIOnS refjectcd ID the fllwD¢ial swements. the less lthely we would become aware of IL Also. the risk of not dethitig a Dtell miss¢a¢ement to 64ud is bigber Iban th¢ risk of not detecting one resuliing from error. as fraud may involv¢ deliberatr A fiuth¢r d¢suiption of our r¢sponlIIttcS is available on the FirffjKi Reporting Cou11.5 w¢b$it¢ at bttps:Ilwww.frc.org.uklauditorsrewbi]itieB. This dcscriptiOD forn part of our auditofs T¢PQrt. U of onr report the Part 16 of th¢ Coti¥vtii¢s Act 2W6. audit work IMS beeD 80 that we might state to the ¢lwit4ble compotty's n)¢mb¢rn thos¢ nuttus w¢ are Tequit&l to state to theJD ID n #uditor's report and for tto other To the fullut extent MItted by law, we do Dot accW or assull responsibility to 4Dyon¢ oth¢r than the clwitable COZDpany and the chuitable compw'8 memkn w a t4)ty. for ow audit worK for this r¢poTL or for the OPiDiOnS we bave fonne Mfj¢hel MtllDg (Stnlor Siatstsry Audltor) for and on behalf of UHY Ha¢k¢r Yo
AiIDACIOUS CEURCH FOR THE YEARENDED31 MARCH 2•13 11130 254.740 1¢15.914 1401.193 1968.141 254,740 105.914 28j.on 283.073 Totsl 134.984 137fft70 4N91 103,766 Ctr*tithl¢a¢tiViti¢S 83.961 203918 532,384 949J12 s32 204.837 410998 531384 949JV2 htr rec Rtyaluation oftawThie 83.012 204.857 17W2J46 532,384 3234,730 Fj b¢5 •t l April 2022
AUDACIOUS CHURCH FOR THKYEAR ENDED 31 cll 2•23 di 2•21 im651 358J 254.74 7&990 2.8611 254.740 71gXp 1396.898 56&948 1963,846 29J54 31.640 21,423 4.498 25,921 154 191.107) 2D3JI iiuii 350ffj58 531384 883.012 lo43? 350,658 532J84 813,042 85 531584 3.168J 204.837 1636,(#J6 It i W 2022 OI¥ b*l•Dres)I M•Tth 2011
AUDACIOUS CHURCH CONSOLIDAIED BALANCE SHEET AS AT 31 MARCH 2023 2022 ToDpWe Afxts 55565.91 5.680374 .164.474 086J 5.867.734 •me yur 11.156.085 11,105.902 than •)ne y 17 Net UBets Inrne fund• 45),654 4295.817 1946.973 3.017,720 5.651.846 5,722593 12
AUDACIOUS CHi]RCH AS AT 31 MARCH 21123 2•22 TaD1)le se18 5J2&764 5.680274 14 SJ*766 5.680276 Is I2,118 1.154,694 5AW78 5.766.818 A6 35 10914,659 11,039J44 17 Inco¢ 19 4.654 4295,8 J7 1925.694 3,017.720 J3
AUDACIOUS CHURCH STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 Graw 2023 2022 504.879 964J74 IDVtsting (114.842) 20 {199,950) Net ¢ash {osed InyEeAerated frgm 194283) (199,156) iandng actlvitles Repayment of bank loans 157 Net ¢uh ll8ed In fallDE ae¢Md Net Illere¢ In nd ¢a eqllfveDts 162208 608.433 Cash and cash equivalents at iwniDg of year Csh ea8h equfvAkAts ai end of yur Chrfty 2022 Ckn flowi from operAthig •c¢lvld 278269 828,904 lawchase of tsngible fixed &ss¢ts tllvestDMt income (69.362) 45 (199.950) Net Lq$h g¢n¢rated froml(uMd in) Inv¢stlng ¥dvlties 28,095 (128.869) Flnanclng Kdvltles Repayment of bank loans 248 88 157 Net IncreaBe ill and cuh equivk•ts 57.976 542,750 Cash and ¢qulval¢nts at rnd of year 14
AUDACIOUS CIIURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 AeeounthiE polkits Company Informado te8iStered offi¢e is Unit 6. Dm Crntr¢ Trinity W•y. Manchester, M3 7BB. J.1 A¢¢oyntlHt ¢oAv¢DtIDm of Associatio the CompaDiCS Ad 2(1)6 •tsl -A0tIng Reporting by Chariti¢s: Statement of Rwrting Stsrthrd •Fylicable in the UK and Republic of Ireland (FRS 102) (effective l JaDUary 2019)-. The cbarity is a Public Benefit as defined by FRS 101 The a¢¢thmts are prepared in wknich is the main futidion ¢un¢w of the compgoy. Monetsry The accouDts hav¢ prepared on the bisknical cost convention modifi¢d to inchth the rcvaluation of freehold properti. The princip] accountiDg policies adopt&l are set out below. 12 Golng ¢on¢¢rn IJ Cbrhbl¢ fund• Unr¢stricted fimds are available for at the disu¢tion of the io furt1 of their ¢barilable objKIivc8 UD]ess the funds have bceD dcsiguatcd foT othcr purpos¢8. Restricted fimds are subject to wific ¢oTrlilions by donors as to how tkny may be use4L ThB pLuposes and us¢s of the restricted funth are set out ID the not¢5 to the acc4wnts. rec¢ivabl¢. exwt insofar os they are iDcapabl¢ of financial rne&wL Ince resources are Services provid¢d by vohmteet$ 8r¢ Thx quantifiabk and are not slded in the financial slatements. receivable. Turnover 18 measured at the flir vahw of the ¢ODsideration rerxived or teceivable and T¢pr¢seDt8 amounts re¢eivable for goods and 5¢rvitu provided in the nomwl ¢ours¢ of business. 15
AUDACIOUS CHURCH NOTES TO THE FINANCIAL STATEMENTS (COIYTINUED) FOR THE YEAR ENDED 31 MARCH 2023 R¢sourtts ¢xp¢lld¢ i0¢h1ve of inecoverable VAT, are Rcogwsed in th¢ y¢ar iti Tthich thry ar¢ 1.6 Twlble u¢ts and dqDredRtlom Tangible fixed assets aye initialty Meas at uenily DKaSUr at cost or valuatio4 net of depreciation aDd any losses. DeiltiOn is provided at rtes c8l¢ulat¢d to write off the cost of fixed asscts, lem their e81ima residual value, over their eXpted useful liv on the following basis: Freehold land and llIngS 2% $ts4ight line Over th¢ remai period of the lease strjight linen3% straight line Prrxeeds •Dd the carying valu¢ of the as%L aDd is rec0gllis in Det Iti¢ornel(eXpdlluYc) for th¢ yw. 1.7 Kxed 8¢1 Investwots subseq¥Mitly n8$Ted at hir valu¢ at each reportiDg date. Cbanges iti fair value are re• ID net A subsidiary is ¢ntity rAthlled by the cojnpaDy. Control 18 the power to govern th¢ fClaI and IJ Impalnneut of fised wets At each rqjorting end date, the c]wity Teviews the Carrying amounts of its tsngible and intaDgThi le ass¢ts to deterniine whether there is any iDdication that those have suffered an imp&irni¢nt loss. If 8Dy 5ucb indication exiN the recovathle amount of th¢ •st is ¢stin) ID othr to determi the extent of the impairment105s, if any. 16
AiJDACIOUS CHURCH IYOTES TO TEE FINANCIAL STATEMENIS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 IJ Impairment Orred •Rts {eODthiued) ReCoVebIe amount is the of fair value less wsts to sell and vahje in use. Ill assessiDg value , the ClMled future flows are discounted to their present value using a pre.tax discoutit rale that reflects Current mket assessots of th¢ time value of money and the iysks wific to the as8¢t for ID Incon(eXp1tc) for the year. UDle5s the r¢levaDt •S8et is Cal¢d at a r¢v8hwd in which ceased to apply. Where ID itllpairmeDt h)8s subsequently reverses, the cawiDg •mOUDi of the 8sset 18 ¢08tiised for the Ossrt in prior years. A reversal of aD impairmettt loss is Y¢¢ogtiis¢d imm¢diately. UDless the relevant asset is caled in at a hled ill which ¢u¢ th¢ rn¢rsaJ of the impairment 1.9 Stoeks Sto¢ks are ststed 4t th¢ lower of ¢ost and estin se]]iD8 wice leys ¢osts to Mmpl 8¢11. Cost Net rea]isable v4h is the eMimated seUi•g prA¢¢ all cstimated costs of compl]0# and ¢08ts kn be 1.10 L¢wlDg •Dd lth purclmse cornllthments Rentals payable UDder operaling lease5 are Chged •g•in8¢ incom¢ on a straighi line bHsis i>ver the pBriod of the lease. 1.11 Peslon8 1.12 B•sts of ¢onsolldation 1.13 Csb and cayh equlvalents Cash and ¢a5b cquivalents ill¢lude in h•rf deNlts held at call with banks. other short.terni liquid 1.14 Fln*Dclal Ins¢nellts The company ele¢trd to apply th¢ provisions of Section 11 'B&sic Financial tnstnmients. at Section 12 '0ther Finala] Instrrnts Issues. of FRS 102 to all of its financial Ilkstn¢llts. 17
AUDACIOUS CHURCH NOTES TO THE FINANCIAL STATEMEN]S (CONTllYUED) FOR THE YEAR ENDED 31 MARCH 2023 1.14 IA#rnmeDts (eonthped) Fill141 wets offs¢L with th¢ nct •mouots presentrd in tbe ac¢onDts wben there is a legally rtslise the asset and settle th¢ liability simultaneously. Ba finanelal FinaDcial assets, other thaD those beld at fair value thrwgh income and exFnditure. are assessed for evidence th8L 88 8 rnujt of one or moff events that cKcutred after tbe inilial recognition of the financial present value of the tstimated cash flow5 di5COUDted at the asset's original ¢ffe¢tiv¢ int¢r¢st ra. The If there is a de¢r¢a8e iti the impai( loss arising from an event occurring after the impairtDent was Fitititicl assets aTe de[OgnISed onty wben the contr8¢tsl rights to the c&%h flows from the a81et expire or settle& or when the chariry transf¢rs the financial ass¢t and substantially ail the Tisks And rctsiti but Control of th¢ $¢t has tr$reta to another party that 15 able to sell the &88et iti its entirety to on unrelated third paty. BASIC hbllldes Basic financial liabilities. inc1lIng trnd¢ aDd other pay8ble& are initially rewlsed at tr8os¥Aion prTrc¢ Unless the aTTangemeni COD] a fiDan¢iDg ir4Dsactlo where the debt inslnm)eDt is Measur at th¢ subsequeDtly carried at amortisatiOD cosL USiDg th¢ efft¢tiv¢ itit¢r¢st r m¢thod. Trade payables ate objigatiotis io pay for or seryiLw that hwe been awllTed in the ordinary Course of operations from suppliets. Accounts payable aTr ctsssifi¢d as current liabilities if pallellt 1$ due withiti one year or less. If noL they are prts¢ttted &s nonthcurrent libi]ities. Trade payables are reColsed illitially at tra$aCtiOn PTi¢e attd subsequcntly Measu at amortiS ¢ost using tbe ¢ffective 18
AUDACIOUS CIIURCH NOTES TO FINANCIAL STATEMENfs (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 1.15 Employee benefits The cost of any holiday eDtitlallcDt is rewised ID th¢ in which the employee'5 seTvi¢e8 Jn th¢ 4ylicatiott of the ¢bOTity's aw)untiDg policie4 the dtre¢ts att required to make judgements. timatr8 and aSsWtio about the canying Imoutti of 8nd liabihties that are not readily th•t perio or in the pffi of th¢ r¢vision and future wiods vAffte the revision affects both ¢urrcnt and ture periods. There are no jeMellts OT e8ti]Da*s which have a Si8Dificant risk of ¢ausing mat¢ri adiustinent to the canying amount of &8sets and liabilities. funds fulld8 2023 fuDds 2022 1591594 17.536 358JIW) 2.950.894 17,536 2J85.626 566948 2,952574 Coronavirus job funds 2023 ruthd8 2022 2.504.651 358J(X1 2.862951 2J85,626 566948 1952,574 coronavin job li 19
AUDACIOUS CHURCH NOTES TO THE FINANCIAL STATEMENTS (Co) FOR THE YEAR ENDED 31 MARCH 2023 Group & Charhy 2023 2022 Gronp 2023 2922 Eadeavour Worldwide Limited Avdacious Publishing Limitrd 318.489 207.711 7.626 Ch•rlty 2023 2•22 Sales of resow Gro 2•23 2022 2023 2022 10.0 10.000 66.898 60287 Interest receivable
AUDACIOUS CHURCH NOTES TO THE FII¥ANCiAL STATEMENTS (Co) FOR THE YEAR ENDED 31 MARCH 2023 Gro rund8 fuDds fwid$ 2022 Fundraisin Advertising 4.498 4,498 EDdeavour WoTldwide Ltd 89.548 Audacious Pubiisbing Ltd 15.882 s¢$ of resouff 75.904 75904 15.882 RaiSiDg fuDd8 include paymeDts to the audikn of Q629 (2022: £1.970) for s¢rvic¢s not Connected fum Dds funds 2022 Advertising 4,498 4,498 21
AUDACIOUS CHURCH OTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Cbrltabk 2ct6vib St8ff ¢4rt8 1249251 1.096.813 222.872 203.430 627J58 303.950 121522 70.454 12492$ J 1,096,813 222,872 203,430 622,697 303,950 121,522 70.454 Cburch d¢partments alld eVts Hospitality Otber costs 2J31881 1,736,415 2J28220 1,740.415 Grant fundin8 of a¢tivitie5 (Ke note 9) 75.143 70,378 85.143 70.378 Slwe of support costs (see note 10) Share of govanutt Msts (sc¢ notc 10) 811926 505.191 732580 505,191 UDTestricted fuTMIs 3.mJ98 2285208 2.997.391 2,285208 15 152 30 066 96 Grants payable Cbrity 2022 2023 2022 Grnits to InltilOns {5 grants): King of Kings Chwch IJ05 1793 55.IKKI 1.163 2.855 45.000 1.305 2.793 55.(kn) 1.163 2,855 45,(KM) Tearfund .127 8,127 Aud10$ Church Switsland 8.412 8,412 67225 60.430 77225 60.430
AUDACIOUS CHURCH FOR THE YEAR ENDED 31 MARCH 2•23 IO Supportuqts 254.471 13.120 254,471 13.120 1fi649 1626 83.617 141ffi49 L626 83.617 IA8biandhe 1144 5.146 11941 61965 8261 8261 21710 140J52 31C)I .743 61537 &123 5,146 11941 68,965 16,180 41.228 42J07 TAvtlJth8 140J52 31f•J% 60.743 6U37 &123 41228 AuditfeeÈ 744 ¢tibk £4.750)forolherseThiL
AUDACIOUS CHURCH 10 345,119 16,649 13,617 345.119 16.149 83.017 2$4J7l 254.471 48.68 2.144 5,146 12.941 1144 5.146 11941 8261 21.813 8361 Teitybortt8odf&x Ttav¢IIth8 1.1 1.1 114.701 16,701 114.701 1&701 JJ60 54 6&965 1&180 41328 68.965 16,180 41228 42J07 62J54 Auditf 744 Lthtitsble actiirytsra £4.75Qlts)thtrstiryit
AUDACIOUS CHIcH IYOTES TO THE FINANCIAL STATEMENTS (coNfiNUED) FOR THE YEAR ENDED 31 MARCH 2023 G BarretL r¢ttiv¢d ¢nwhun¢nts of £70975 {2022: £75250) during the year for bis services to the ¢burcb and bos lti)bUt10 paxl of £3,701 (2022: £3.701). His wife S BaTTet¢ is also an employe¢ of the thUh and received emoluments of £62.958 (2022: £65.752) and bad pension ¢oLtributiolls paid of Q921 (2022: £2,921). Their ¢bi]dro G Ban and J BalletL also employees of the ¢lwrth and received emOhllDU of £71 (2022: thil) and £1.714 (2022: £nil) rewtivety. S A Keir bad pension c4>nti1butic pid of £6 (2022: £6(K)). His dau8bter, M W, is also an ¢mploy¢¢ of the church and re<¢ived emolumeots of £20.060 (2022: £18.230) aDd Iwl pension Dtnl>utioos of £588 (2022: £389). His SO E Keir. 15 also an employee of the churcb and received emoluments of £2289 (2022: £137). enY)1 of £55 (2022: £Ail) the year. 12 Employe umber of employ The avmE¢ number of employc¢s thlling the yearvA8: 2023 N•wb¢r 2022 Number 2023 2022 Number NMmb¢r Tnthes of Atylacio Church 55 52 51
AUDACIOUS CHURC 2•12 1.138944 103,071 24,788 988593 1.013,381 22 W50 84.750 2J94 Wws ttd salarie4 i.liZJ03 ICQ.6 988J93 82,550 £.(th to£69,999 £70.(th t(*£70.999
AUDACIOUS CHURCH NOTES TO ThE FllYANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 13 T•npThle red •Mets Crottp TolAI ld Co At l April 2022 5280,LWJ 261.9)7 1271.422 6.813.329 At 31 M4T¢h 2023 Dprethth)m and ImpalrmeAI At l ApTiI 2022 103.766 i.In9289 1.133.055 105 574 At 31 MaT¢h 2023 Carrying •mout At 31 Mar¢h 21Y23 At 31 M•r¢h 2022 Frvhold l*nd IebO1d fi¢¢iDp & b•lldlMy illyrovemmts equlp•MIt Totsl At l Apri12022 AdditioDS at cost At 31 MaTch 2023 5280.IXKI 261.907 J269,183 6,811,090 At l April 2022 103,766 26 348 1.027.050 1.130.816 222 872 105 574 At 31 MaTth 2023 C#rrylng amount At 31 MaTcb 2023 At 31 March 2022 27
AUDACIOUS CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 13 TanObk fred uets (coD¢itiued) The church's freehold land and buildiD8S We externa]ly revalued at £5280,(XX) at tbeir open nwket volu¢ In April 2022 by Roger Hannaty Charlercd Swv¢yots. The tr8¢5 are of the opinioo that the w•h ot 31 MaTch 2023 would not sigwficantly differ fmm this valuati All the cllluch's fred1 laDd and buildings are subittt to a mortgage Ivith the bal¢¢ ow¢d at 31 March 2023 notIng to 18•A (2022: 22 Y•) of their net book vakn. CoMp8Yble bIthr cost for the l•nd •nd b1 Included •t vthailoD: Gronp & Charity 2022 3201,298 3201298 At 31 MaT¢h 2023 Cbrlty 2023 2022 At l April 2022 and 31 Marcb 2023 FIX a&8et itives1m reime8t the of shar¢s held in Endeavour Worldvjide Limited and
AIIDACIOUS CHiJRCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 15 D¢bto 202J 2023 22 TJade debtors 53,184 81475 26.864 27.950 38.466 35258 998 Other debtors 1.626 16 cratn. mounts flllDg due wl¢hln M¢ y cknrfty 2•22 2022 151.145 83.705 44.379 93940 59.915 J61.837 63225 37.641 113,952 41184 151.145 77,868 28,023 120.604 50.737 161.837 61.196 23.061 113.952 24,237 Accru8 17 Credlt•r&" am•unts falury dn¢ after more than otte ytr Group & Chxrlty 2023 2022 Mortgage and loan A•lysh ofmorttagt l•*n Not wIlty r¢payable within fiv¢ years by itistalments Wholly T¢yble within fiv¢ y¢us 129.063 327.979 934.583 1.182.971 Debt Ikn in on¢ yw or I¢s5 151.145 155.222 499.153 161,837 166,293 526,862 327 In more than five years The mortgages are 8eoued by 8 legal ¢baTg¢ h¢ld over the freebold pr(4xty owned by th¢ clwity. 29
AUDACIOUS CHURCH NOTES TO FINANCJAL STATEMENTS (couD) FOR ThE YEAR ENDED 31 MARCH 2023 18 PeDslon other pWt.redremI benefrt Ch*rlty 2023 2022 2023 2•22 c00thtiOnS payabk by the 8roup and ¢h8rity for the year The 8rw? operntes a defined Contribution pension sclKme. The assets of the schall¢ 8r¢ h¢ld separately con1nl008 p8yabl¢ by the group to the fiuuL
AUDACIOUS CHURCH 31 2013 51ffi13 515J35 21J47 14.498) 4274370 135DJ 204rn17 23.686 4476968 3.763.433 (331 ViiioDOff¢ringCbE8t¢r (4.178) IOJ64 3.035 647 336 13J50 Bigctve 31
AUDACIOUS CHURCH FOR ThE YEAR ENDED 31 MARCH 2023 2•22 Tgw7Jle fiAed &%t¢ts 5J56J91 IX•8.840 SJ50591 SJ99.4Y 5MO,274 5ffj80,274 i.l29.8ll 4295J17 5.425.628 Tble SJ26.764 5324764 SI8OX14 5.680274 8¥1239 4yP).6Y 5J87A93 i.(.45] 4295.817 5J59268 31
AUDACIOUS CHURCH NOTES TO THE FllYANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 20 Anaiylb of net *#et• between fund# (e•nthi•ed) Grgup amd Chty Total ods On taa8ibk fixed assets 2 704 893 . Unr¢alised 88ins at J April 2022 and 31 March 2023 21 Operadng leue payments under non-can¢¢llable opu•tmg whi¢h fall due as follows: Group 2023 Within one year 173.H8 88JiO 21 173.448 136975 78,620 723 33
AUDACIOUS CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTJNUED) FOR THE YEAR ENDED 31 MARCH 2023 Remun¢rtkn of key W•AEemeot penonnej The remunerntion of key managern petsoDneL none of whom wue InLSt¢es, is as follows. Group & Chrlty 2023 2•22 The trustees review p4ymeDts m•de to employees in similar mallageTi positions in other ¢hurc]Ks and similar IrgaDisatioDs when 10¢118 the l¢vels of pfty for key uwers. The trustees also tsk¢ into COD5idcTrtion the •bi]ity of the ¢lwitsbk )mPY to be able to pay such salarA¢S. S A Keir and G BwTetL of the were also tsustees of Live Audxiou& t¢wtued clwity number 1108799. During the year Athious ChuT¢h opcrnted • loan account with Live Audaci At 31 mah 2023 Live Audacious owed Audacious Clwrch £nil (2022: £998). S A Keir aud G Barret4 tDJ5tees of the churc w¢re also ffieeS of AlOUS Foutsdatioffj ffpstered clwity Dumber 1173786. lknitig the year Audacious Chutch opuated 4 loan a¢¢ount WAth Avdacious FouDdatiott. At l April 2022. Aud&ciow8 Foundation owed Athious Chw¢b £62.441. Dwing th¢ year, expense8 paid n¢1 of any ID¢ rK¢ived thitslied £1,760. At 31 March 2023. Audacio owed Audacious Foundation £60.681. Subsldiarl Authiow Church OWDS l(xfA of thc sbar¢ capitsi of Etsdeavour Worldwide Limit&l a trathg chur¢h pr¢mis¢s and its principal activity is the provision of c4r porking. At 31 March 2023 the net 8ssets of End¢avour Worldwide Limited were £2l8.402 (2022: £65.834). Its turnover for the year ended 31 March 2023 was £318,489 (22. £207.71]) and other Incon t(alled £Di] {2022: £4295). Its totsl were £99.548 (2022: £85.W) l¢aviDg a profit IOT the year of £218941 (2022: £126,102) before gift aid donalioDS to the pamt charity. wbich Eetterntes futyjs for the ¢hur¢lL Audacious Pub]ishmg Limited operntes fmn the chw¢h premise$ and its wincipal activity is musi¢ s•Jes 8Dd obtaining royalties. At 31 Marcb 2023 the net assets of Audacious Publisbin8 Limi*d were £1.745 (2022: £5261. Its tsllnover for the year ende4J 31 M8Tch 2023 was £7,626 (2022: £1.783) ond other income totalled £IO.(AKI (2022.. £683). Its total resout¢¢8 expended were £15.882 (2022: £1.941) kaving a plofit for the yetr of £1,744 (2022: £525) b¢ft)re gift aid donations to tbe pare ¢hwity. On 3 March 2022. Audacious Chw¢h ueatrd and controls Audacious Switserland Association. 8 ¢bur¢h coiiwgalioD mediDg iti Gett Switzerland This is a separate legal entity iti SwitrerlaDd and has a year ettd of 31 De¢emb¢r. At 31 December 2022 the net assets of Audaciou5 Switrerl4nd Association were £21,281 (2021.. £nii), its total iD¢ome resou1$ for the year weTe £129.720 (2021: £tiil) and its total re50UTces expended were £108,439 (2021.. £tiil). The n¢t iDu¢ase in funds in tbe year was £21,281 (2021: £nil).
AUDACIOUS CHURCH IYOTES TO THE FINANCLIL STATEMENTS (colUED) FOR THE YEAR ENDED 31 MARCH 2023 Cash geDergted Group 2022 2023 2022 Surplus for the year 287,879 949J82 1118JO 883.042 Adjustments for. of fitsattcial activiti Depre¢i4tion 9j of tsngibl¢ fixed assds (20559) (97,457) (71.081) 238525 203.430 222N2 203,430 3232 (56.644) (219212) 3232 (45.484) (187.405) (In¢Teaseyde¢rease in debtths 25 Allatyth of ehangtt kn md fuxds Asat 31 M*reh Cuh 202J l Aprll 2022 4.703260 162208 4.865.468 ow falling within rn¢ ) LoaTh8 fa]linB after more than one year (161.837) 10,692 (151,145) l Aprll 31 Mareh 2022 Cath 11gws 2023 4,611124 57.976 4,670,1(x) LoaDS falliog due within 4)ne y¢ar LoaDS rling aft¢r more than on¢ yur {161,837) 1 21 134 10,692 (151,145) 35