CHARITY REGISTRATION NUMBER 1129633 COMPANY REGISTRATION NUMBER 06780477 AUDACIOUS CHURCH CONSOLIDATED ACCOUNTS FOR ThE YEAR ENDED 31 MARCH 2025 </UHY
AUDACIOUS CHURCH LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr G Barreli MrSAKeir Mr N T Smith Mr D J McPhail Mr J Bra¢egirdle Secretydry Mr D K Shary)e Charfty number 1129633 Company number 06780477 Regl$tered office Unit 6 Deva CentT¢ Trinity Way Man¢h¢slcr M3 7BB Audltors UHY Hacker Young 6 Broadfield Court Broadfield Way Sheffield S8 OXF Bankers Barclays Bank ple P.0 Box 1385 2 Arena Court Sheffield S9 2WV Lloyds Bank Market Street Mancheslet Ml IPW Solleltors Geldards Number One Pride Place Pride Park Derby DE24 8QR
AUDACIOUS CHURCH CONTENTS Page Trustees, report Statement of trUtes, Tesponsibilities Independent auditors, report Consolidated slatemenl of financial acttvilies io Statement of financial activities Consolidated balance sheet 12 Balance sheet 13 Stat¢m¢nl ofcash flows 14 Notes to the accounts 15-36
AUDACIOUS CHURCH TRUSTEES, REPORT ONCLUDJNG DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 21)25 The trustees present their r¢port and financial statements for the year ended 31 March 2025. The financial statements have been prepaTed in accordance with the accounting policies set out in note I to the financial statements and comply with the charity's Memorandurn and Articles of Association. the Companies Aci 2006 and "A¢¢ounting and Reporting by Charities: Siatemenl of Recommended Pracii¢e applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019)" Objecdves Ind ietlvltles The charity's objectives are set out by the tn]st deed as: the advancement of the Chrislian failh. Ihe reli¢f of sickness and financial hardship and io promotc and preserve 8ood he&lih by the provision of nds. goods or services of any kind including through the provision ofcounselling and support; Ihe advancement of edu¢alion. These objectives are achi¢ved through the followin8 activities: events and meetings to promo* the Christian faith which ar¢ designed to be enthusiastic, lively, fim and educational. These are held on a regular basi5, are open io all ages and Are not dependent on social class or standing; offering support and counsel through the church leaders and in meelings to Ihe church and ¢ommunily, promoting holistic healthy living for body, soul & spirit,. inspiration & impart8tion to church leaders and other ¢hur¢h members from the value8 of the Bible and where possible bringing practical application lo ihe message; includin8 hosting Luminous conferen¢e, the Culture summit, Audacious Coll¢8¢, and involvemenl in the church's programmes. The trustees have paid du¢ regard to guidance issued by th¢ Charity Commission in decidin8 what activities the charity should undertake. Details of the a¢livities undert8ken by the Charity during the period are 8iven under Achievements and Perfonnance, Achlevements gnd perform#n¢¢ Objective l - lo advance the Christian faith in acconlan¢e with the statement in such ways and in such parts of the UK or the world as the church leadeTship from time lo lime may think fit. We CentlY have five campuses of chh, based in Manchester, Che$ler, Cardiff. Sheffi¢ld, and Geneva. tn our Manchesler campus, we havc three physical locations meeting in Salford. Centrnl Manchester. Bury and Alderley Edge. Across our campuses we are running a combined len physical weekend services across all the locations. There are currently around 8,OIXI people who call Audacious their home church, and we have been averaging around 3,700 0p1¢ in any given week ovcr our weekend services. We hav¢ an expeclation that Ihis figure will continue lo increase, as it has done consistently since the church slarted. This continued growth can attributed to a strong ownership of our church cultsjre of being authentically Telational, intentionally enthusiastic, unusually generou4 fiercely delemined and seriously fiin. Our Church pury)ose is "To display the supernatural God" and our church vision is. "A church that makes a slalement. growlng and grounded in timeless tth for this generation and the next." Objective 2 - To relicvc sickness & financial hardship and to promote and preserve good health by the provisions of funds, goods or services of any kind including through the provision of counsellin8 and support in such parts of ihe UK and th¢ world as the church l¢ad¢rship from lime-to-time think fil.
AUDACIOUS CHURCH TRUSTEES* REPORT ONCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Achlevements p¢rformanee (eonlinued) The church continues to provide pastoral care physically, spiritually, and ernotionally for its Cntire congTegal1o and many from outside the church. We have strong partnerships with many charitable organisations: including Audacious Foundation, Compassion UK Christian Child development, Assemblies of God Incorporated and The Evangelical Alliance, as we continue to grow and provide increasing levels of support lo those in need. There are CUTrently five campwes of Audacious Church, meeting across seven physical 10¢8tions. In our Man¢hesteT Campus we have recently completed a capital campaign lo raise funds that will see a new building projecl on our current sitc. This project will f8cilital¢ Ihc continued growth of the church and our plans ar¢ lo cornmen¢e building in 2026. In our Chesler campus we have T¢c¢nily purchased our own building Ihal we are 8¢tlin8 reody to renovale in the near future. This building is much larger than the premises we were previously leasing, so it will support the conlinued gryowth of our Chester campus, whilst providing us wilh a long-tenn home for Ihe Church. In our Sunday services, we continue lo see needs mel as we pray corporately for health, wholeness, financial and family issues. Each week we receive reports from individuals wiihin the Cone8a110n who let us know of prayer rcquesls that have been resolved Cither miraculously OT practically. Objective 3 To advanoe education in such ways and in such parts of the UK or the world, as the Church leadership from lime to lime may think fil. Audacious continues to train individuals at all levels of life. Our weekend services continue lo educate and practical application. along with our practical midweek life groups and courses leach individuals the values, vision and Culture of our church and enable5 people lo choose practical training that will help equip their life. We run an annual leadership training retreat for over 400 volunteers in the life of church, to equip them practically to grow and develop in Iheir leadership roles.
AUDACIOUS CHURCH TRUSTEES, REPORT (INCLUDINC DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Fingncial review Incoming resour¢es during th¢ period totalled £4.371.200 (2024.. £4.019,695) which has been at a level sufficient to satisfactorily a¢hiev¢ our commitments and undertakings. The Slalement of Financial Activities Shows a nel increase in funds before the revaluation of tangible fixed assets of £447,436 (2024: £570,042). Restricted funds tolalled £4,580,053 (2024.. £4,500,289) and unrestricled funds £6,568,646 (2024: £6,200,974). The freely available unrestricted funds at 31 March 2025 was £1,143,999 (2024: £1,324,699). The trustees would wish to increase this in the future to allow the church to continue its Current activities, The Consolidated Stal¢ment of Financial Aclivities shows a net increase in fund8 before the revalualion of tangible fixed assels of £505,886 (2024., £612,1 S9). Incoming resources for the period lotalled £4.672,409 (2024- £4,300,682). Restricl¢d funds totalled £4,580,053 (2024.. £4.500,289) and unrestricted funds £6,910,639 (2024.. £6.484,517). The freely available unrestricted funds al 31 March 2025 was £1,472,926 (2024.. £1,588.5W). It is the policy of the charity that unrestri¢led funds which h8ve not been designated for a spccific use should be maintained at a level equivalent to between Ihrec and six month's expenditure. The trustees consider that reserves ai this level will ensure that, in the event of a significant drop in funding. they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. The charity ¢urrenily has an adequate level of reserves, however, we are seeking 10 increase these each year. In this period we have continued to repay capital off our church building loan, and we moved our loan in December 2013 reducing our loan rate as well as our loan lemi from 20 to 15 years, of which fouT ye8r8 were remaining at the start of the year. In June 2025 the Iruslees made the decision to repay this in full and the loan was fully r¢paid by the end of September 2025. We have used the venue lo host ¢onferences for other Christian organisations, that has both a financial and partnership benefit to chuwh, a8 we seek to work Jlongside others. The truslees have assessed Ihe major risks to which the charity 1$ exposed and are satisfied that systems are in place to mitigate exposure to the major risks, The lrnstees confinn that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the trust's aims and objectives and in planning fvture activities. Future dlrectlon We have exciting plans to develop our existing sile in Manchester lo conlinue the 8rowth and expansion of Ihe church, which will in turn generate additional funds so that we can continue to help the vulnerable and expand our reach. The goal is to See a landmark and iconic building that can be used by all areas of the gateways of our eity, with numerous breakout rooms and a car park over multiple storeys and that would facilitate all our needs as a church in one site. We have a four-stage plan for this building project and we aim to eommence phase one in 2026.
AUDACIOUS CHURCH TRUSTEES, REPORT ONCLUDING DIRECTORS) REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Struclure) governanee and m*nagement The charity is a company limited by guarantee and a registered charity. Th¢ charity was incorporated on 28 December 2008 and became a registered charity on 15 May 2009. It commenced activities on l October 2009 when il look over the assets, liabilities and running of Audacious City Church (charity number 1120164) and The Failhworks (charity numb¢r1052562). In 2012 the charitable company changed its name fTOrn Audacious City Church to Audacious Church and moved ils registered office to Trinity Way, Manchester. The truslees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were.. Mr G Barrett MrSAKeir Mr N T Smith MrRPRay Mr D J McPhail MT J Brace8irdle (Resigned 31 July 2024) Following AOG guideline5 the church is required lo have 8t least three trustees al any one time, one of whom is the senior minister, G. Barrett. When 8 va¢8ncy occurs the Senior minister shall nominate a potential new trustee deemed lo have the relevant experience and commitment and the Church Council shall appoint this person. The charity is managed by a board of experienced Iruslees, who are responsible for ensuring financial slabilxty and providing professional and strategic advice on policy and resource management. None of Ihe trnslees ha$ any beneficial interest in the company. All of th¢ trustees are members of the company and guarantee to contribut¢ £1 in the event of windin8 UP. We hav¢ a salary banding structure, which we use as a benchmark to set all the staff salaries. As well as the salaried trustees, there is also key management salaries of £183.036 (2024: £181,344) which have an influence on the decision making of the vision and direction of the or8anisation. Dhsclosure of Inforrn8tlon lo audltors Each of the trustees has confiTmed that there is no infonnation of which they are aware which is relevanl lo the audit, but of which the auditor is unaware, They have further confim]ed that they have taken appropriate steps to identify such relevant infomiation and lo establish that the auditors are aware of such infornialion. The truslee8' report was approved by the Board of Tnlee$. Kelr Trustee Dated.. 31 O¢lober 2025
AUDACIOUS CHURCH STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 The trustees, who are also the directors of Audacious Church for the purpose of company law. are responsible for preparing the Trustees, Report and the accounts in accordance with applicable law and United Kingdom Accounting Standard5 (United Kingdom G¢n¢rally Ac¢epted Accounting Practice). Company law requires the trustees to prepare accounts for each financial year which Bive a Irue and fair view of the stale of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that year. In preparing these accounts, the trustees are required to: select suitabl¢ accounling policies and ihen apply them ¢onsist¢ntlyi obs¢rve ihe methods And principles in the Charili¢s SORP. make jud8emenls and estimates that arc Tcasonable and prudent. Stale whether applicable UK Accounling Standar<ts have been followed, subject lo any material departures disclosed And explained in the accounts; and prepare the accounts on the going ¢oncem basis unless it is inappropri8t¢ to psum¢ that the charitable company will continu¢ in operation. The trustees are r¢spon$ible for keeping PToper aOunt1Th8 reeords that disclose with reasonable accuracy at any lime Ihe finan¢ial position of the charitable company and enable them lo ensure that the accounls comply with ihe Companies Act 2006. They are also responsible for safeguarding Ihe assets of the charitsble Company and the group and hence for takin8 reasonable sleps for thc prevention and delectton of fraud and other irregularities.
</UHY 6 Broadfield Court Broadfi¢ld Way Sheffield S8 OXF JNDEPENDENT AUDITORS. REPORT TO THE MEMBERS AND TRUSTEES OF AUDACIOUS CHURCH Oplnlon W¢ hav¢ audit¢d the financial ststements of Audaciou8 Church (the '¢lwi¢able company) for the yr ended 31 Mawh 2025 which comprise the consolidated Statement of Fin¢1&1 Activiti¢s, the parent Ststemenl of Finala1 Activities, the eonsolidated Balan¢¢ Sheel, the parent Btslance She¢l, th¢ ¢on60lidatsd Ststement of Cash Flows. the pmt Statement of Cash Flows and the notes to the accounts, includin8 a summary of 8i8nificant aceountin8 poIi¢i¢B. The financial reporting fr8m¢work that ha8 been applied in iheir prepration 18 applieable law and Unitd Kingdom Accounting Stand8rds, includAn8 Financial Reporting Stindard 102 The Financlal Reportlng Standard appllcable In ihe UK and Republlc of Ireland (Unit¢d Kingdom Generally Accepted Accounting Prnctice). In our opinion th¢ a¢¢ount8: give a true and fair view of the 8tate of the wup and the pr¢nt ¢harithbl¢ ¢omwny'8 affair8 as at 31 Mch 2025 and of it8 incoming re80ur¢e8 and application of re80urce8, for the yeAr then ended; hav¢ been properly prepared in aCCorth¢ with United Kingdom Generally A¢c¢pt¢d A¢countin8 Prncti¢¢; and have been properly prepared in aCcOrde with th¢ requirements of the Compallie8 Act 2006. Balli for oplnloo We ¢ondu¢t¢d our audit in o¢¢ordan¢e with International Standard8 on Audilin8 (UK) (ISA8 (UK)) and appli¢abl¢ law. Our respon8ibililie8 under those standards are furtber described in the Audilor. responsibilities for the audit of arLounls section of our report. W¢ are indepcndenl of the charitable company in accordCe with th¢ ¢thi¢al requirements that are r¢l¢vant to OUT audit of lh¢ account8 in the UK, in¢luding the FRC'8 Ethical Standard. and we hav¢ fvlfilled our other ¢thi¢•l r¢sponsibilitie8 in accordance with thes¢ requirements. We b¢li¢ve thal the audi¢ evidence we have obtsined 18 sufficient and appropriate to provide • basi8 for our opinion. Concluslon relatlng to golng eon¢ern In auditing the financial statem¢nl$, we have concluded that the Inte¢s, we of the going ¢oncern ba818 of accounting in the pr¢paration of ihe financial 8latementS IB appropriate. Based on the work we have perfomied, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may c1 significant doubt on the ¢Ilty.8 ability to continue as a 80in8 concern for a period of at least twelve months from when the financial statements are authorised for issue. Our respon5ibiliti¢s and ihe reSpO81b111IIeS of tb¢ tTUSt¢u with respxt to going concern are de8crib¢d in the r¢l¢vant s¢¢tions of this report.
UHY INDEPENDENT AUDITORS• REPORT TO THE MEMBERS OF AUDACIOUS CHURCH (CONTINUED) Other Infornifitlon The other inforniation ¢omprise8 the infomiation included in th¢ annual report olher than the financial stalemcnts and our auditorfs report thereon. The trustees are respon8ible for th¢ other infonNtion contsined within the innual report. Our opinion on the finan¢ial statements does not Cover the olher inforn)alion and, except to th¢ extent otheNise explicitly ated in our report, we do nol express any forni of 18surnn¢¢ conclusion thereon. Our responsibility 18 to read the other inforniation and, in doin8 $0, consider whether the other infornlIOn 18 materially inconsistent with the fmancial Statements or our knowledge obtairtd in th¢ ourse of the Audit, or otherwise appears to be materially misststed. If we identify such malerial inconsistencies or apparent material misstatements. w¢ ore required to dctemiin¢ wheiher thi8 gives rise to a material misststement in the financial 8tatsm¢nts themselves. If, bAd on th¢ work have perfornie4 w¢ conejude that ih¢r¢ ij a material mi88tAtsm¢nt of this other infom)ation, we Ire required to report ihat fact. W¢ have nothing to report in this r¢8ard. Oplnlons on other mitters pr¢6crlbed by the Companl¢i Act 2006 In our opinion, b4s¢d on the work undertaken in the ¢our8e of our audit: the inforniation given in the Trustees, Report, which includes the Directors, Report prepar¢d for the purposes of eompany law, for the finAncial year of which the a¢Unts are pr¢pr¢d 18 ¢on8i8l¢nt with the financial 8tstement8' And the Directors, Report in¢luded within the Tntstse$' Report has been prqmml in &e¢ordan¢e with applicftble legal requir¢ment8. Mattem on whlch we are requlred to report by exeeptlon In the light of the knowledge and understanding of the chlty ind its environment obtained in the course of the audit. we have not identified materiil misstatements in the direetors, report included within the tru8teeÉ' report. We bav¢ nothing lo report in respect of th¢ following matt¢r8 in relation to which the Companie8 Ath 2006 require8 U8 to r¢port to you if, in our opinion: adequate awowiting records have not been kept, or relurns adequate for our audit hav¢ not been received from branches not Vi8lted by us; or Ihe financial statements ar¢ not in A8reement with the a¢¢ounting records and returns: OT certain di10$r¢S of thtees, remuneration specified by law are not made. or we have not received all the inforniation and explanations we require for our audit , or the trustees werc not entitled to prepare the financi818tatemenls in accordance with the small companies regime and take advants8e of Ihe small compani¢s' exemptions in preparing th¢ trust¢¢s' report and from tbc wuir¢nKnt lo prepare a strategic report.
</UHY INDEPENDENT AUDITORS? REPORT TO THE MEMBERS OF AUDACIOUS CHURCH (CONTINUED) Responilbllltlei of the truitees As explained more fully in the 8talement of ITU8t¢e8' re8ponsibiliti¢s. th¢ tru81ee8, who al80 Ihe direthoTr of Ibe charitable mpanY for the PUTPO8¢ of company law. ar¢ r¢8pon8ible for the preparntion of the fin181 8tat¢ments and for being satisfied that they 8ive a tNe And fair view, and for such internal control the tnle¢S det¢rniine 18 necessary to enable the preparntion of financial ststements that are free frorn material misstatem¢nt. whether due to fraud or error. In prepttring the financial statements. the trustees Are responsible for a8se88ing the ¢harAty'8 Ability to Continue as a going cotrn, di8¢108ing, as applicable, matters related to Oill8 ¢oncern and using the 8oitig concern basis of a¢Unting unle68 the trustees ¢itber intend to liquidate the ¢haritsble Company or to cease operations. or have no realistic alternative but lo do so. Audltor'i reipon8lbllltlei for the Audlt of the Ilnanclal stAtements Our objcctiv¢8 are to obtain reasonabl¢ assurance about wh¢th¢r Ihe financial 8tstement8 08 0 whole are fr from m•t¢rial mi6Statement. wh¢th¢r due to fraud or error, and to issue an iuditotr8 rq)ort that includ¢8 our opinion. R¢a8onable a8Buran¢¢ is a high level of 888uran¢¢ IB not a guarantee that an audit ¢ondu¢l¢d in •¢¢ordance with ISAS (UK) will always detK¢ o malerial misstatemenl when il exists. Misstatements Can arise from fraud or error 4nd Ore Considered mat¢rio1 if, indivithially or in th¢ aggre8aie, they could reasonably be expeeted to influence the economic d¢¢i8ionB of UBer8 taken on the ba818 of these finan¢ial 8talement8. The extent to which our procedures are Capable of delecting irr¢gularities. including fraud. 18 detailed below. Based on our understandin8 of the charity ond the 8ector in which it op¢rnte8, we identified the principal Ti8ks of non4ompliance with 18w8 and regulations related lo the acts by tb¢ charity, which were conlrary to applicable1ow8 and gUlatiOnS including fraud, and we wwid¢r¢d the extent to whi¢b nonvcompliance might have a m•terial ¢ffe¢t on the fina]4] statements. We al30 ¢onsidered those laws and regulations tbal hov¢ a direct imwi on the preparntion of the financial $lat¢men18 su¢h as the Companies Act 2(Q6. We evaluated mAna8em¢nt's incentives and opportunitie8 for fraudul¢nt rnanipulalion of the financial statements (includin8 th¢ risk of override of wntrols), And deterniin¢d ihal the principal ri$ks were relAled to inflftt¢d r¢venue and th¢ clwity8 net incom¢ for the year. Audi¢ procedure8 p¢rfornied included: review of the financial st•lement disclosures to underlying supporting doeumenlAtion, review of correspondenc¢ with and reports lo the regulators, includin8 correspondence with the Charity Commi88ion, review of wrre8pondence with le8al advi80r8, enquiri¢$ of management in so far as they related to the fjnancial statement8, and in teslin8 of journals and cvalualin8 whether there wa8 evidence of bias by ihe tru5tccs that r¢pr¢8ented a risk of mol¢rial misstatern¢nt du¢ to fraud.
</UHY INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF AUDACIOUS CHURCH (COIYTINUED) There are inherent limitations in the audit procedures described above and the further removed non- compliance with laws and regulations is from the events and transactions reflected in the financial slatements, the less likely we would become aware of it. Also. the risk of not dete¢tin8 a material misslatemenl due to fraud is higher than the risk of not detecting one resulting from error. as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. A further description of our responsibilities is &vailable on the Financial Reporting Council's website al: htips.'//www.frc.or8.uklauditorsresponsibililies. This description fornis part of our auditorfs report. Use of our report This report is made solely to the charitable company's members, as a body, in accordance with section 391 of the Companies Act 2014. Our audil work has been undertaken, so that we might stste to the charitsble company's members Ihose matters we are required to stale to them in an auditor's report and for no other purposes. To the fullest extent pennitted by law, we do noi accept or assume responsibility to anyone other than the charitable Company and the charitable company's members as a body. for our audit work, for this report, or for the opinions we have fomied. Mlchacl Me4llng (Se or Sl4tutory Audltor) ror and on beh41(of UHY H*eker Young 31 October 2025 Chartered Accountant5 Statutory Audltor
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AUDACIOUS CHURCH CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Notes Flxed asset$ Tangible assets 14 5,437,713 5,395,588 Current assets Stock Debtors Investments Ca8h al bank and in hand 16 17 18 1,345 1,723,208 515,958 1,499,282 25 7,084,371 6,759,051 Credltors: #mounts falllng due wlthln one year Net currenl asset8 605297 2L189 Total assets l¢is ¢urr¢nt Ilabllltle8 11,490,692 11.624,777 Credltors: gmount$ falllng due In more than one year 20 Net A$$ets Income fund$ Restri¢ted funds 22 4,580,053 4,500,289 Unr¢strl¢t¢d funds Retained within the charity Revaluation reserve 3,892,425 04 3,528.171 6,597,298 313 341 6,233,044 Non-charitable trading funds The financial ststemenls [¢ approved by the Trustee8 on 31 O¢tob¢r 2025. A Keir Trustee Company Reglstradon No. 06780477 12
AUDACIOUS CHURCH BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Notes Fix¢d assets Tangible assets Investments 14 15 5,424,645 5.375,844 5,424.647 5.375,846 Current 4ssets Stocks Debtors Investments Cash at bank and in hand 16 17 18 1,345 1.653,603 515,958 1.529,318 6,828,339 6,590,512 Credltors: amounti falllng due wlthln one year 19 ILIQII81) 625 124 Net ¢urr¢nt gss¢ts 5 724 052 Total A$get$ les8 eurrent Ilabllltlei 11.148.699 11,341.234 Credltorj: Amounti falllng due after more than one year 20 71 Net a$$ets Ineome fulld$ Rcstricled funds 22 4,580,053 4,500,289 Unrestrleted funds General unresiricted fimds Revaluaiion reserve 3,863,773 3,496,101 6 568 646 The financial statements were approved by the Trustees on 31 O¢tober 2025. A Keir Trustee Company Registration No. 06780477 13
AUDACIOUS CHURCH STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 Group 2025 2024 Notes Cash now from operatlng aedvltles Cash generated from operation5 28 483,107 540,751 Investlng aedvitles Tax charged Purchase of tangible fixed assels Movement on fixed tern) deposit accounts Investment income (330) (306,758) (515,958) (69,080) Net CAsh generated froml(used In) Invtgtlng ACtItleS (720,671) 7,762 FinAnclng actlvltl¢$ Repayment of bank loans 45 Net cA$h used In flnanelng aetlvldes 154212 Net Inereaie In ¢a•h and cash equlvleDt5 (415,909) 394,301 Cash and cash equivalents at beginning of year Cash and cash equlvlents At end of year Charlty 2025 2024 Cash IIow8 Irom operatlng Actlvltles Cash 8enerJled from operations 28 282,827 359,694 Investlng attlvlrfes Purchase of tan8ible fixed assetg Movement on fiAcd temi deposit accounts Investment income (303,538) (515,958) (59,897> 24 Net cash generated from Investlng actlvltles (508,243) 185,612 Flnanclng a¢tlvltles Repayment of bank loans 17 Net ¢ash used In finAnclng aedvltleg 178 345) 154212 Net Increase ID cash aDd e4sh equlvllents (403,761) 391,094 Cash and cash equivalents al b¢8inning of year 4670 100 Cash And c*sh equlv•lents It end of year 14
AUDACIOUS CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Aceounllng pollcles Company Informatlon Audacious Church is a private company limited by guarantee incorporated in England and Wales. The r¢gislered office is Unit 6, Deva Centre, Trinity Way, Manchester, M3 7BB. 1.1 Accountlng eonventlon The financial statemenls have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financi81 Reporting Standard applicable in the UK and Republi¢ of Ireland {FRS 102) (effcclive l January 2019)" The charity is a Public Benefit Entity as d¢fin¢d by FRS 102. The accounts are prepared in sterling. which is the main functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The ac¢ounts have been Prepared on the historical cost convention modified to include the revaluation of freehold properties. The princip81 accounling policies adopted are set out below. 1.2 Golng ¢on¢ern At the lime of approving the financial statements, the trustees have a rea8on&ble expectation thai the charity has adequate resources lo conlinue in operational existence for the foreseeable future. Thu$ the trustees Continue to adopt the going concern basis of a¢¢ounting in preparing the financial statements. 1.3 Charllabl¢ funds Unrestricted funds aTC available for use al the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes. Restricted funds are subject lo specific conditions by donors as lo how they may be used. The purposes and uses of the restricted fithds are set out in the notes to the accounts. 1.4 Incomlng re$ourees Donations, legacies and other fonns of volunlary income are reco8nis¢d as incoming re80urces when reccivable. except insofar as they are incapable of financial measurement. Income resources are allocated lo th¢ different type5 of incoming resources and allocated between re5trictcd and unrestricted funds according lo their nature. Donated assets are recognised al market value. Investment income is Tecognised as incoming resources when it becomes receivable. Services provided by volunteers are not easily quantifiable and are not included in the financial statements. Grants are recognised in full in the Statement of Financial Activities in the year in which they are receivable. Turnover 1$ measured at the fair value of the consideration received or receivable and represents amounts reoeivable for goods and services provided in the nornjal course of business. 15
AUDACIOUS CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 1.5 Resources expended Resources expended, inclusive of irrecoverable VAT. are recognised in the year in which they are incurred and are analysed in th¢ statement of financial activities according to the nature of the expense. Trading costs comprises the costs associated with trading for fundraising purposes. Charitable activities represent the direcl costs incurred in the provision of the company's services. Support costs represeTJt the indire¢l costs incurred by the charitable company. Governance costs are th08¢ Costs incurred in connection with compliance with statutory and constilulional requirements, No ¢osts have been apportion¢d. 1.6 Tangible flxed 985ets and depreelatlon Tangible fixed assets are initially mcasur¢d at cosl and subsequently measured at cost or valu8tion, nel of depreciation and any impaitment losses. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on th¢ followlng basis.. Freehold land and buildin8S Leasehold improvements FixNr¢s, fittings and equipment 20/0 straight line I/• SiTaight line Betwttn 200/¢+, 25D/o, 330/0 and 50fi/• straight line The gain or loss arising on the disposal of an as$el 18 delerniined as the difference between the $al¢ proce¢ds and the carrying valu¢ of lh¢ asset, and is r¢wgni8ed in net incom¢l(expenditure) for the year. Assets costing less than £500 are not capitalised bul are treated revenue expenditure in the year that the expenditure is in¢urr¢d. However, the trustees chn capilalise ilems below this limit at their discretion. 1.7 Flxed asset Investments Fixed asset investments are initially measured al trgnsa¢lion price excluding Iransaction costs, and are subsequently measured at fair value al each reporting date. Chan8es in fair value Are recognised in net income/ (expenditure) for the year. Transaction costs are expensed as inourred. A subsidiary is an entity controlled by the company. Control is the power lo govern the fman¢ial and operating policies of the entity so as to obtain benefits from its activities. 1.8 Imp*lrment of fixed assets At each reporting end dale. the charity reviews the carrying amounts of its tangible Mnd intangible assets lo deteTmine whether there is any indication that those assets have suffcred an impairnlent loss. If any such indication exists, the recoverable amount of the asset is estimated in order to delern?ine the extent of the impoirn)ent Ios5, if any. 16
AUDACIOUS CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 1.8 Implirment of fix¢d 4sset5 (eODtlnu¢d) Recoverable amount is the higher of fair value less costs lo sell and value in use. In assessing value in use. the estimated future wh flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the Tisks specific lo the asset for which the estimates of ture cash flows have not been adjusted. If the recoverable amount of an a8sel is estimated to be less than ils carrying amount, the caTrying amount of the asset is reduced to its recoverable amount. An impairnient loss is recognised immedialely in incomel(expenditure) for the year, unless the relevant asset is carried at a revalued amount. in which case the impaim)ent loss is treated as a revaluation decrease. Reco8nised impairni¢nl loss¢s are reversed if, and only if. the reasons for ihe impairnienl loss hav¢ ¢eas¢d to apply. Where an impairn)ent loss subsequently reverses, the carying arnount of the asset is increased lo the revised estimate of its recoverable amount. but so that the increased carrying amount doe5 not exceed the carrying amount that would have been detemined had no impainnenl loss been r¢cogni5ed for the asset in prior years. A reversal of an impairnient loss is recognised immediately, unless the relevant asset is carried in at a rcvalued amount, in which case the reversal of the impairnienl loss is treated as a revaluation increase, 1.9 Stoek8 Siocks are staled at the lower of cost and estimated sellin8 price less cost8 to Complete and sell. Cost comprises direct materials and. where applicabl¢, direct labour costs and those overheads that hav¢ been Incued in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration Are measur¢d at COSt. Nei realisable value is the estimated sellin8 pricc less all estimated costs of cornpletion and costs to be In¢U¢d in marketing, selling and distribution. 1.10 Leaslng gnd hlre purchase eommltments Rentals payable under operating leases are charged a8ainst income on a straight line basis over Ihe period of the lease. l.lj PeDslonJ Payments to defined contribution retirement benefil schemes are charged as an expense as they fall due. 1.12 Bash$ of eonsolldatlon The financial stalernents consolid&l¢ the accounts of Audacious Church and all of ils subsidiary undertakings ('subsidiaries'). 1.13 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held al call with bank5, Other short-lenn liquid investments with 0ri8inal maturitie5 of Ihree months or less, and bank overdrafts. Bank overdralls are shown within borrowin8 in current liabilities. 1.14 Fln8ncl&l Instruments The company has elected to apply Ihe provisions of Section I I 'Basic Financial Instrurnents, and Seclion 12 '0ther Finan¢ial In51rumenls Issues. of FRS 102 to all of its financial instrum¢nts. Financial instruments are recognis¢d when the tharity become5 paty to the contractual provisions of the instrument, 17
AUDACIOUS CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 1.14 Financfial Instruments (continued) Financial assets are offset. with the net amounts presented in the accounts when Ihere is a legally enfoTceable right to set off the re¢ognised arnounls and ther¢ is an intention to settle on a nel basis or to Tcalise the asset and settle the liability simultaneously. Baslc tlnAncfial assets Basic fjnancial assets, which include lrnde and other receivable8 and cash and bank balances, are initially measured at trawaction price including transaction costs and are sub5equenily Caled at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a maTkel rate of interest. IMp4irmenl ofJ7hancial assets Financial assets, other than those held at foir value through income and expenditure, are assessed for indicators of impairnient al each reporting date. Financial assets are impaired where there is objective evidence that, a$ a result of one or more events thai o¢¢urr¢d after the initial recognition of the fin8ncial assel, the ¢slimaled future cash flows hav¢ b¢¢n aff¢cled. If an assel is impaired, the impairn)eni loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's Original effective intercst Tate. The impairnienl Ios5 is r¢¢o8nised in nel incomel (expenditur¢) for the year. If there is a decrease in the impairnient Ioss arising from an event occuffing after the impainnent was recognised, the impaimient is reversed. The reversal is such that the current carrying amount does not exceed what the Carrying amount would have been, had the impaim)ent not PTeviously been reco8nised. The impairmenl reversal is Tecognised in net incomel (expenditure) for the year. Dere¢ognlllon offinanclal dssels Financial assets are dere¢ognised only when lh¢ contractual rights to the eash flows from ihe assel expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership lo another entity, or if some significant risks and rewards of ownership are retained bul Conlrol of Ihe asset has tran$f¢rr¢d lo anolheT party that is able lo sell ihe assel in ils entirely lo an unrelated third party. B4sle fln*nelal Ilabllltle Basic financial liabililies, including trade and other payables, are inilihlly recognised at transaction price unless the aangement constitulcs a financing transaction, where the debt inslrumenl is measured al the present value of the future receipts discounted at a markel raie of interest. Debt instruments are subsequently ¢aTried at amortisation cost, using the effective interest rate method. Trade payables are obli8ations lo pay for goods or services that hav¢ been acquired in the ordinary COUTse of operations from suppliers. Accounts payable are classified as Cuent liabilities if payment is due within one year or less. If not, Ihey are presented as non-cutTeni liabilities. Trade payables a recognised initially at traaCtiOn price and subsequently measured at amortised cost using the effective interest method. DerecognitioH offiHan¢lrtl114bllliies Financial liabilities are deffcognised when the Company's contractual obligations expire or are discharged or cancelled. 18
AUDACIOUS CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 1.15 Employee benefits The cost of any unused holiday entitlement is recogni5ed in the period in which the employtt's services are received. Temiination benefits are reco8nis¢d immediately as an expense when th¢ company is demonstrably ommilled lo lern)inale the employmcnt of an employee or to provide temiinalion benefits. Crltlcal accountlng estlmates and Judgements In the applicalion of the charity's accounting policies, the directors are requiTcd to rnake judgements, ¢8timales and assumpiions about the ¢anying amount of assets and liabililies Ihal are not readily apparent from other sources. The estimates and associated &ssumplions 8re based on historical experi¢ncc and other factors that are consid¢red lo be relevant. Actual re5ulis may diffcr from these eslimales. The estimates and underlying assumptions are reviewed on an ongoing basis. R¢visions lo accounting estimales are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both Current and future periods. There are no judgements or estimates which have a significant risk of causing material adjuslm¢nl to Ihe carrying amount of ass¢ls and liabilities, Donatlons and legAel# Group Unreitrlcted Restrlcted TotAI Unrestrleted Restrlcted Total funds funds 2025 fuDds fund• 2024 Donations and gifts 107 679 3 422 5 g IL822 3 470 446 Charlty Unrestrleted Re$trl¢ttd TotAI Unrestrkled Reslrleled Total funds funds 2025 funds funds 2024 Donations and gifts 107 679 3 293 3 327 171 ]J1 IQ2th22 3393J41 IW2 3a4.4.000 19
AUDACIOUS CHURCH NOTES TO THE FINANCIAL STATEMKNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Charltable aedvltie$ Group Charlty 2025 2024 2025 2024 Church departmenls and ¢v¢nls 427421 427 421 IQQLIfj a22aii 300.11 Other tradlng aetlvltks Group Chirlty 2025 2024 2025 2024 Endeavour Worldwide Limited Audacious Publishing Ltd Sales of resources 378,521 303,549 2,370 4,723 107 1 130070 L2LI 1300 InvlMentS Group Charlty 2025 2024 2025 2024 Rental income Income from unlisied investments Inleresl receivable 10,000 i 0,000 198,878 158,667 102 02 Other Income Group Chorlty 2025 2024 2025 2024 Other income 231432 Other incom¢ re¢¢ived in the year relates to a tower crane licence granted lo a neighl)ouring building project to oversail and use the land of the Charity of £175,000 and a contribution of £56,432 towards ihe legal costs in relation to the agreement. Total legal costs incuTrcd in Telation lo this agreement were £72,196 and are included within support costs. 20
AUDACIOUS CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 IVIARCH 2025 Ratsing funds Group Unrestrl¢ted Restrleted Totsl Unrestrlcted Restrlrted Tolgl funds funds 2025 funds funds 2024 Fundraisin Advertising and ublicit 3,348 3,348 3.348 3,348 Tradin costs Endeavour Worldwide Ltd 109,073 Audacious Publishing Ltd 8,572 Sales of resources 109,073 8,572 IL25 103.585 16,191 103,585 16,191 15QLIQ Raising funds include paymenls to the auditor8 of £2,656 (2024: £2376) for services nol connected to the charity and consolidated group accounts. Chlrlty Unrestrl¢ted Restrleted Total Unrestrlcted Restrl¢ted Total funds lund8 2025 funds funds 2024 Advertising 3,348 3,348 3,348 3,348 ra Sales of resources 52 io 554 21
AUDACIOUS CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Charitable activities Group Charity 202S 2024 2025 2024 Staff costs Deprecialion and impainnenl Church departments and events Hospitality Other costs 1,525,961 1,436,521 254,737 210,817 763,060 576,720 178,801 134,950 139044 105 020 ,525,961 1,436,521 254,737 210,817 746,713 567,707 178,801 134,950 105 020 2,861,603 2,464,028 2,845,256 2,455,015 Grant funding of activities (sec note 10) 94,109 83,344 101,609 94.844 Share of support costs (see note I l ) Share of governance costs (see nole I l ) 1,048,327 968,400 933,823 845,876 Anily81g by fund Unrestricted funds Restricted funds 3,986,300 3,497,282 21 3,862,949 3,377,245 10 Grants payable Group Ch#rlty 2025 2024 2025 2024 Grants to institutions (7 grant$): King of Kings ChuTch Planet5hakers Church Everything Church Auda¢ious Foundation Vision building gifts Watoto Children Salford Mayors charity Audacious Publishing Ltd 932 2,759 5,000 73,000 2,500 1,618 500 1,262 3,595 2,500 58,787 10,000 932 2,759 5,000 73,000 2,500 1,618 500 1,262 3,595 2,500 58,787 10,000 86,309 76,144 93,809 87.644 Grants to individuals (2 grants) 200 22
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AUDACIOUS CHURCH NOTES TO THE FINAIYCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 12 Truslees Mr G Batrett received emoluments of £81.403 (2024.. £75,215) during the year for his services to the Church and has pension contributions paid of £3.701 (2024: £3,701). Mr S A Keir received emoluments of £nil (2024: £nil) durin8 the year for his service to the church and had pension conlribulions paid of £600 (2024: £600). No other trustees received payment for any other expenses. 13 Employ¢¢i Number of employees The average number of employees during the yeAr was.. Group Charlty 2024 Number 2025 Number 2024 Number 2025 Number Trustee5 of Audacious Church Truslee51directors of subsidiaries Employees 65 Remuneratlon of key mAnagtm¢nt personnel The remuneration of k¢y management personnel, none of whom were trustees, is as follows. Group and Charlty 2025 2024 Aggregate compensation The trustees review payinents made to employees in similar managerial positions in oiher ohurches and similar organisations when considering the levels of pay for key managers. The trustees also take into considerdtion the ability of the charitable company to be able to pay such salaries. 25
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AUDACIOUS CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 14 Tangible fixed assets Group Flxtures Leasehold flttings & Improvemenls equlpment Freehold land and bulldlng5 Total Cost At l April 2024 Additions at cost 5,280.000 261,907 ,453,105 306 6.995.012 306 758 Al 31 March 2025 DepreclAtlon and In)palrment Ai l April 2024 Charge for the year 211.148 156,462 26 ,231,814 1,599,424 Al 31 March 2025 Carrylng gmount At 31 March 202S Al 31 March 2024 Charlly Flxtures Leasehold fittings & Improvement$ equlpm¢nt Fr¢ehold land and bulldln88 Tolal Cost Ai l April 2024 Addilions al cost Al 31 March 2025 5,280,000 261,907 1,398,442 303 6,940,349 303 538 Depreelatlon and Impvdlrment Ai l April 2024 Depreciation char8ed in the y¢ar At 31 March 2025 211,148 156,462 26 1,196,895 1,564,505 254 122815 L7 Carrylng gmount Ai 31 March 2025 Al 31 M8r¢h 2024 27
AUDACIOUS CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 14 Tangible Ilxed asset8 (contlnued) The ¢huTch's freehold land and buildings were exteTnally revalued at £5,280,0(K) al their open market value in April 2022 by Roger Hannah, Chartered Surveyors. The trustees are of the opinion that the value al 31 March 2025 would not significantly differ from this valuation. All the church's freehold land and buildin88 are subject to a mortgage with Ihe balance owed al 31 March 2025 amounting to 120/• (2024., 15 0/0) of their net book value. The mortgage was fully repaid after the year end date. Comp*rAble hlstorlc•l cost for the lind and bullding Included 4t valuatlon: Group and ChaTIty 2025 2024 Cost Accumulated depreciation 3,201,298 3,201,298 813 824 At 31 March 2025 All other tangibl¢ fixed asse18 are stated at historical cost. 15 Flx¢d 21$et Investments Charlty 2025 2024 At l April 2024 and 31 March 2025 Fixed asset investments represent the cost of shares held in Endeavour Worldwide Limited and Audacious Publishing Ltd, which ar¢ UK companies both l OiV/o owned by the church. 16 Stocks Croup Ind Charlty 2025 2024 Food and beverage stock 28
AUDACIOUS CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 Debtors Group 2024 Charlty 2025 2025 2024 Trade debtors Arnounls due from subsidiary undertakings her debtors Prepaynents and accrued income 103,021 60,890 37,249 45,534 460 2 1570360 31,627 86,771 8,400 611787 1438 LL208 La2£2£2 Lfj5,?.rf13. Ja2W8 18 Current asset Investments Group And Charlty 2025 2024 Fixed terni deposjt accounts 19 Credltors: amount$ falllng due wlthln one yeAr Group 2024 Chlrlty 2025 2025 2024 Bank loans and overdrafis Trade creditors Taxation and social security Amounls owed to subsidiary undertakings Oiher creditor$ Accruals Deferred income 602,026 134,517 49,446 140,400 159.923 38,960 602,026 132,787 29,053 124.058 122,675 35,884 140,400 157,391 27,496 124,058 85,722 37,018 144,647 42,952 93,394 44,146 29
AUDACIOUS CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR EIYDED 31 MARCH 2025 20 Credltors: amounts falling due after more tbaD one year Group and Charlty 2025 2024 Mortgage and loan -fjQlQ26 oaii Analyyls of mortgage and loan Not wholly repayable within five years by instalments Wholly repayable within five years 101.771 602 026 602,026 602 026 780,371 140 400 Included in cUent liabilities Lo4D mathrlty anatys18 Debt due in one year OT less In more than one year bul nol more than Iwo years In more than two years but not more Ihan five years In more than five years 602,026 140,400 140,400 397,800 The mortgages are secur¢d by a legal charge held over th¢ fr¢¢hold property owned by the charity. The mortgage has been fully repaid after the year end date. 21 Pension and other post-retlr¢meDt benelll eommltments Defln¢d eontrlbutlon Croup Charlty 2025 2024 202S 2024 Contributions payable by the group and ¢harity for Ihe year The group operales a defined contribution pension scheme. The assets of the scheme are held Separately from those of the group in independently administered funds. The pension cost char8e represents ¢ontTibution8 payable by the group to th¢ fund. 30
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AUDACIOUS CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 23 Analysis of net Assets between funds (¢ontlnMed) Croup and Charlty Unrestrlcted Restricttd funds funds Total Unrealised gains included above: On tangible fixed assets 270487 Reconciliation of movements in unrealised 8ains Unrealised gains at l April 2024 and 31 March 2025 2llQ££21 Operatlng lease commltments At the reporting end date the company had outstanding commitments for futur¢ minirnum lease payment$ under non-cancell8ble operating leases, which fall due as follows: Group Chlrlty 2025 2024 2025 2024 Within one year Between two and five years 136,200 98,508 103 136,200 98,508 03 25 Capltil commltments At 31 March 2025 the charity had capital commithients as follows.. Group and ChArlty 2025 2024 Contrneted for but not provided in the financial stat¢menls: Acquisition of propety, plant and equipment L&o.o.y The charity exchanged and completed the purchasc of The Oetsvian Centre in Chester in July 2025. 33
AUDACIOUS CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 IVIARCH 2025 26 Related party tr4nsactlons Mr S A Kcir and Mr G Barrett, trustees of ihe church, w¢re also trustees of Audacious Foundation. Tegislered charity number 1173786. During the year Audacious Church operated a loan account with Audacious Foundation. At l April 2024, Audacious Foundation owed Audacious Church £60,681. During ihe year, expenses paid net of any income received lolalled £19,956. At 31 March 2025, Audacious Church owed Audacious Foundalion £80,637. Mr G Barrett's wife and son are employees of the church, Mrs S Barrett received emoluments of £74,041 (2024.. £67,968) and had pension conlribulions paid of £2.921 (2024.. £2,921). Mr J BaTTett received emoluments of £1,065 (2024: £1,460). Mr S A Keir's daughter and son Are employees of the church. Mrs M Say received emoluments of £19,082 (2024: £22,783) and had pension contributions paid of £642 (2024: £827). Mr E tQeir received emoluments of £11,372 (2024: £1,652) and had pension contributions paid of £110 (2024.. £nil). Mr D Sharp¢ is 8 meml>er of the key management persomyel. His wife Mrs S Sharpe is an employee of th¢ ¢hur¢h. Mrs S Sharpe received rctnolumcnts of £47,350 (2024: £45,118) and had pension ¢ontributions paid of £2.055 {2024.. £1,926). Mr N Smith, a trnstec of the church, 1$ also a trustee of Plane18haker8 Church. Durin8 the year Audacious Church made donations amountin8 to £2.759 (2024.. £3.595). A8gre8ale donations received in the year from trustees. key management personnel and their Tcspective family members amounted to £98,101 (2024: £96,431). 27 Sub8ldlarles These financial slat¢menls are separate company financial stslements for Auda¢ious Church. Audacious Church owns IOOO/o of Ihe share capital of ETJdcavour Worldwide Limited, a ITadin8 company which generates funds for the church. Endeavour Worldwide Limited operates from the church premises and its principal activity is the provision of car parking. Ai 31 March 2025 lh¢ n¢t Assets of Endeavour Worldwide Limited w¢re £312,269 {2024: £249,699). Its turnover for the year cnded 31 March 2025 was £378,521 (2024: £303,549). Ils total resources expended were £119,073 (2024: £113,585) leaving a profit for the year of £259,448 (2024: £189,964) before gift aid donations to the parent ¢harity. During the year there was a loan account between Audacious Church and Endeavour Worldwide Limited. At l April 2024 Audacious Church owed Endeavour Worldwide Limited £124,058. Due to movement in the year of £nil, the balance owin8 from Audacious Church to Endeavour Worldwide Limited at 31 March 2025 was £124,058. Audacious Church owns IOOYO of the share capital of Audacious Publishing Ltd, a trading company which generates funds for the church. Audacious Publishing Ltd operates from the church premises and it5 principal activity is music Sales and obtsining royalties. At 31 March 2025 the net assets of Audacious Publishing Lid wer¢ £1,074 (2024: £1.777). Its turnover for the year ended 31 MArch 2025 Was £2,370 (2024.. £4,723) and other income tolalled £7.500 (2024- £11,500). Its total resources expended were £8.573 {2024.. £16,191) leaving a profit for the year of £1,297 (2024: £32) befor¢ gift aid donations lo the parenl charity. 34
AUDACIOUS CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 27 Subsidigries (contlDued) During the year there was a loan account between Audacious Church and Audacious Publishing Ltd. At l April 2024 Audacious Publishing Ltd owed Audacious Church £2,669. Due to the movement in the year of £2,500, the balance owing from Audacious Publishing Ltd to Audacious Church at 31 March 2025 was £169. On 3 March 2022, Audacious Church created and controls Audacious Swilzerland A550cialion, a church congr¢gation meeting in Geneva, Switzerland. This is a s¢p8rate legal entity in Switzerland and has year end of 31 December. At 31 December 2024 the net assets of Audacious Switzerland Association were £38,489 (2023: £32,070), it5 total income resources for the year were £129,196 (2023: £141,382) and ils total resources expended were £122,777 (2023: £130,593). The nel increase in funds in the year was £6,419 (2023.. £10,789), During the year there was a loan account between Audacious Church and Audacious Switz¢rl8nd Association. Al l April 2024 Audacious Switzerland Association owed Audacious Church £84,102. Du¢ lo rnovemenl in the year of £38.737. Ihe bal4n¢e owing from Audacious Swilz¢rland Asso¢i81ion lo Audacious Church at 31 March 2025 was £45,365. 35
AUDACIOUS CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR EIYDED 31 MARCH 2025 28 Cash generated frorn oper2tlons Group 2024 Charlty 2025 2025 2024 Sury)lus for the year 508,024 612,955 447,811 571,781 Adjustments ftr: Investment inc(The reCols¢d in statement of financial activities Foreign exchange rale differences D¢preciation aNI impairn]ent of tangible rixed assets Tax oharged Movements in working capital: (Increase)Ide¢rease in 8lock8 (Increase)Idecrease in debtors Increasel(decrease) in ¢r¢ditors {102,375) (76,842) (311,253) (245.509) (2.138) (796) (375) (1,739) 264,633 330 230,083 254,737 210,817 (1,345) (1,345) (223.926) (278,164) (124,285) (329,140) Ciah generated from oper4tlon8 29 An8ly$li of ehinges In net funds Croup A$at l Aprll 2024 A$at 31 March 202S Cash flow$ Cash at bank and in hand 5,2S9.769 100,049 5,359,818 Loans falling due wilhin one year Loans falling after more than one year {140,400) (461,626) (602,026) 63 Cbarlty Asal l Aprll 2024 Asat 31 MAr¢h 2025 C*$h flows Cash at bank and in hand 5,061,194 112,197 5,173,391 Loans falling due within one year Loans falling after mor¢ than one year (140,400) (461,626) (602,026) 639971 36