LONDON STREET18ASINGSTOKE) UNITED REFORMED CHURCH CHARITY REPORT OF THE TRUSTEE5 FOR THE YEAR ENDED 31st DECEMBER 2023 TheTrustees of LondonStreet{8asSngstoke) Unlted Refomiedchurch presentthelrannual reportand financial statement for the year ended 31" December 2023. The Tnjstees confirm that they comply with the requirements of the Charities Act 2011; the Charities {Accounts and Reports) Regulations 2008,. and the Statement of Recommended Practite for Accounting by Charities 2019 as applicable to charities entitled to prepare accounts on the receipts and payments basis. The Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularitles. ADMINISTRATIVE INFORMATION London Street United Reformed Church, situated at London Street, Basin8Stoke, Hants, RG217NU; is a local church of the United Reformed Church and 15 a member church of the Wessex Synod. It was registered as a Charity (number 11308011 with the Charity Commission on 28 July 2009. We are known as London Street IBasingstoke) United Reformed Church, and we take our structure, governance and mana8ement from the Scheme of Union of the URC which isset out in a'document known as The Manual,. Ourobjective as a Charity is the advancement of the Christian faith for the benefit of the public in accordance with the Scherne of U nion. We achieve that through our activitie5 and facilities offered to the community by our building. Apart from the Revd Josh Thomas who is appointed by the Wessex Synod of the United Reformed Church a5 the Interim Minister of London Street IBasingstokel United Reformed Church, the members of the Elders, Meeting for the time bein8 are recognlsed as the charity trustees. Those who served from 1st January 2023 until the date this report was approved are: Revd J05h Thomas Ilnterlm MSnlsterl Mr Owen Colllns (Church Secretary) Miss Karen Bell (Church Treasurer) Mrs Wal Leng Ayland (from I" January 20241 Mrs Margaret Carrick Smith Mr5 Joyce Cook Miss Alison Jamleson Mr lan Mccloy Mrs Jenny Mcclov Mrs Gill Mlller Mr Ken8Jise Moavu Mr Tony Patterson Mr5 Carol Scott luntil 31" December 2023) Mr lan Scott Mrs Joy Williams luntil 31. December 20231 Not 311 sen4ing Elders underwent formal training In 2023 for their duties speclfic31ty as Trustees. other than to acquaint themselves with their responsibilities when required to do so. for example in connectlon with the safeguarding of children and vulnerable ad ults, and health and safety generally. With effect from I" January 2023, all those nominated to serve as Elders are required to declare their intention to undertake such training a5 directed from the General Assembly Executive. R8glstbr*J Char￿Y 1130801 Page 1 The Church building is vested in The United Reformed Church Iwessexl Trust Limited as trustees and held for the benefit of London Street United Reformed Church in accordance with the trusts applicable to URC properties. The manse at 6 Camberry Close, Basingstoke, Hants, RG21 3AG is also vested in The Unlted Reformed Church (Wessex) Trust Limited as trustees but sino 310 August 2021 is not held for the benefit of London Street United Reformed Church a5 a consequence of the then minister accepting a call to a new pastorate. STRUCTURE. GOVERNANCE AND MANAGEMENT The activities of London Street United Reformed Church are overseen by the Elders, Meetlng of the Church in accordance with the provisions of The Strutture of the United Reformed Church determined by the General Assembly of the Unitecl Reformed Church and supplemented by the Constitution of London Street United Reformed Church. The governin8 document of the re8iStered charity is a statement adopted by the Church Meeting on 20 May 2009. The Elders, Meeting is responsible for the financial administration of the Church, and the care and maintenance of Church premises. The Church Meeting lof those members who are present) 8ives general guidance on the life and work ofthe Church. The members of the Elders, Meeting are the rninister in pastoral charge {if any) and up to 12 members of London Street United Reformed Church nominated and elected by the members of London Street United Reformed Church in Church Meeting,. the Church Secretary and Church Treasurer are ex officio members of Elders, Meeting. Elders serve for 3 years, retire by rotation and are eligible for re-election. Elders may serve 2 consecutive periods and, thereafter, must wait I year before becomin8 ell8ible for re-electlon. Elders, Meetin8 met on 12 occasions during 2023, all being condurted vla Zoom vldeo conferenclng. Church Meetlng of London Street Unlted Reformed Church met on 6 occasions during 2023. Our quorum for the year was set at 12, the same as 2022. The Basis of Union states the functlons of Church Meetln8 and Elders, Meetlng. The mlnlster and the elders collectlvely share the duties and responsibilities outlined for the Elders, Meeting along with acceptlng the ultimate responsiblllty for dlrectlng the affalrs of the Charity as laid down by the Charlty Comrnission. The general contf ol and management of the adminlstratlon of the Charity is further exercised by representatlve Elders being members of the Church'5 four main committees: Flnance- managing all the day to day financlal responslbillties and the preparation of the accounts; Property- managlng the malntenance of the Church; Children and Youth Work- Institutlng and overseeing the work wlth children and young people,. and Mission-ensuring that the Church demonstrates its concern for the local community and the world. Matters were then conveyed to Church Meeting. OBJECTIVES AND AcfiviTIES As a local congregatlon of the United Reformed Church, London Street Unlted Reformed Church seeks to advance the Christian religion through its artivities and the facilities offered to the community by its building. The Elders, Meeting is aware of the Charity Commission's guidance on public benefit in"The Advancement of Religion for the Public Benefit" and has regard to it in the administration of the Church. Registered Charty 1130801 Page 2 The Elders, Meeting believes that the Church provides benefit to the public by.. providing resources and facilities for public worship, pastoral care and spiritual, moral and intellectual development, both for the congregation and for anyone else who wishes to benefit from what the Church offers; and,. promoting Christian values and service by members of the congregation to the community, for the beneflt of indivlduals and society as a whole. REVIEW OF ACTIVITIES AND ACHIEVEMENTS London Street Uniled Reformed Church continued to hold public seNices of Christian worship for all ages on Sunday mornings throu8hout 2023. We continued to serve the community here in Basingstoke. Throughout the year with the help of the Community Food Link we continued to serrfe many individuals and families within our local community by bringing in food from the supermarkets destined for land fill and on a Saturday at lunchtime opening our food table to distribute it to those in need. Durin8 the week on a Monday, Tuesday and Thursday lunch times, we ran our hot food table utilizin8 food from the supermarkets and serving it to those in need w ho ca me to the table. Both have provided an ideal opportunity to engage in conversation with customers and passers-bv. The Memory Tree Social Club meets every week on a Wednesday. It is an opportunity for people diagnosed with Alzheimerfs and other types of dementia and their carers, to relax. enjoy themselve5 and make new friends, With an average of 25 to 30 visitors every week, we provide a unique and special place where they can relax and talk to other carers and people with dementia. Perhaps one ofthe bi88est chan8eswe have seen In ourworship, our mission and serving the community, ha5 been the number of Iranian refugees we have supported. The Lord clearly steered us towards ernbracing the Iranian refugees and since May 2022 we have been blessed In havln8 a number of refugees not just worshlpping wlth us but taking a proactive role in our mission. Eight refugees successfully completed the Alph3 Course with six baptlsed in February and two in July. FINANCIAL REVIEW In 2023 regular offerings of £47,286 were up on the figure for 2022 of £43,052 by 9.8%. Lettlngs have Increased compared to recent years and are now runnlng in line wlth pre-covid lettings figures, however our eeneral expendltures on ga5 and electricity have increased from £14,105 in 2022 to £33,658 In 2023. In addition, it wa5 necessary to replace much of the electrfcs and flre safety systems at a c05t of over £51,400. Thls has necessitated a £65,180 transfer f rom the General Fund to bring the Premises Fund to zero, as Is our policy. The donatlons towards the work of food tables from those using the table and from other churches were reduced in 2023. Although the donatlons covered the additional supplies needed on the food tables, they did not cover the wages of our Kitchen Supervisor and the new equipment and maintenance needed in the kitchen. We continue to thank those churches who provide donations to support this work and we continue to look for ways to increase Income to cover this vital work. The Community Café funds were in a deficit of £12,147 at the end of 2023 and money was transferred from the General Fund to bring these funds to zero. To meet the policy for'free. re5erve5 in our General Fund, a transfer of £81,044 was made from our Building Reserves bringing these to a deficit of £26,788 at the end of 2023. Our Buildings Reserve5 are there to cover Registered Charity 1130801 Page 3 work that is needed in our listed building, and it would be expected that the work that is needed to our buildings would be covered by this. However. the work in 2023 was not expected and has used up all these reserves and it has been necessary to leave this fund with a negative balance. The Trustees will need to look at ways to build up these reserves. We were fortunate to receive a legacy of £357,878 in 2023 and a deslgnated Legacy Reserve Fund has been set up to take account of this. The Trustees are in discussion of how we can use these funds to both Improve the buildings and the mission work of London Street United Reformed Church. The Trustees. policy is to retain six months expenditure as"free" reserves to cover future shortfalls in income or unexpected expense. For 2023 this was calculated to be £26,871. .2024 and is signed on its behalf by the Church Secretary, (Owen Collins). J.pHc( RegisleTed Charity 1130801 Pege 4 London Street United Reformed Church End of Year Financial Statements (Amounts are in £ sterling• rounded to the nearest £) Year ending 31" December 2023 Registered Charty 1130801 Page 5 AccouMfiNG POLICIES Basis of Accounting The financial statements have been prepared in accordance withthe Statement of Recommended Prarticefor Accounting by Charities 2019 issued by the Charity Commission, and the United Reformed Church guidance. London Street's flnancial statements are prepared uslng the reteipts and payments basis. The principal accountin8 policies set out below are applied consistently. Ib Fund Accountln8 Unrestricted funds are available for use at the discretion of the church in furtherance of its charitable objertives. Restricted funds are subjected to restrictions on their expenditure imposed by the donor, or COMtained in the terms of a grant. There are no endowment funds included within these accounts. Tanglble Flxed Assets Freehold property: TheTrustees of the church and manse buildings are the URC Wessex Synod Trust who hold them upon trust for purposes connected with London Street URC. Expenditure incurred on the church ènd manse is written off in the year it is incurred. Investment assets: These are stated at mid-market values on the balance sheet date. Chan8es In valuatlon over the year are recognised in the Statement of Financial Activitie5. Id In¢omlft8 Resources All voluntary 8lving Is Included In the flnancial statements for the perlod In whlch It Is recelved. Donatlons under Gift Ald are recognlsed as Income when the donatlon Is recelved, the tax recovery Is recognlsed as income when the claim from HMRC is paid. Legacies are accounted for when received. All other income 15 8enerally recognised when it is received. le Resour¢e$ Expended The URC Ministry & Mission Fund contributlon Is pald regularty and Is Included In the flnanclal statements for the year to whlch it Is pald. Resources expended are recognised in the period to which they are incurred and include attributable VAT which cannot be recovered. They are allocated to the partlcular actlvlty to which they relate. Governance costs represent direct expendlture on the governance of the church, Includlngthe produrtlon and independent scrutiny of these financial statements. As most of the management and activity of the church Is carried out by volunteers, this intangible cost is not included in the financial statements as this voluntary contribution to the Ilfe of the church Is Incalculable. If As part of the United Reformed Church. the church is an excepted charity within the meaning of thè Taxes Acts. Accordingly, it is potentially exempt from taxation in respert of income and capltal gains received to the Taxatlon Reg15tered Charty 1130801 Page £ extent that such income or gains are applied to exclusively charftable purposes. No provision for taxation has been made in these financial statements. ReseNes The Trustees have a policyto maintain sufficient unre5trictedfunds topayfor 6months necessary expenditure and any legal obli8atlons related to the ernployment of any paid staff. These reserves are held within the General Fund. FUNDS Desl8nated Funds The'church operates seven Designated Fundswiththe encouragement of Church Meetin8, A de51Bnated fund is nominally allocated to a specific purpose; however, Church Meeting can decide to Use the ffloney in the fund for a different purpose if it wishes. IO% Fund - This fund is used to support the work of the wider United Reformed Church and local ecumenical initiatives. Payments are approved by Church Meetin8. Buildings Reserve Fund - This fund provides a reserve of money which can be used to maintain the Church and manse buildings. The Finance Committee transfers excess moneyfrom the General Fund into thi5 fund at the end of each year. Mlnlster's Olscretionary Fund - Thi5 fundls used by the MSnlster. It contalns a small reserve of money which the Mlnister can draw upon to 5UPPOrt pastoral concerns that may be encountered durin8 his/her day-to-day activities. The statu5 ofthe fund is checked, when necessary, by Church Meetin8 and money transferred Into it, from the General Fund, if necessary. Premlses Fund - Thls fund Is used for the day-to-day runnin8 of the Church and Manse buildings. Servicing, insurance and other malntenance actlvltles are Included. At the end of each year. the Flnance Committee transfers moneyfrom the General Fund Into the Premises Fund so that the end-of-year balance Is £0. Communlty Café Fund - This fund is used for the day-to-day trading of the mission work done under the Community Café umbrella. Incorne is generally donations towards food and drlnk and expenses are Incurred to provide stock and kitchen equlpment. Thls fund also provides a contributlon towards the utilities and cleaning costs of the Church buildings,. the amount is calculated based on usage of the Church bulldlngs. Communltycafé Reseprfes Fund-Thls fund was previouslyused to cover6 months of wages for any employed In the communlty café if nece55ary. This fund will close at the start of 2024 as the work is now part of the churches mission. Le8acy ReseNe Fund Thls fund is used for a significant legacy the Church received in 2023. The income generated by it 15 retained withirTr the fund. The Elders as Twstees and Church Meetings are considering how best to use the fund to support the Church and its work. Registered Charty 1130801 Page 7 2b Restricted Funds The church accounts includefive Restrirted Funds, where the monies can only be used forthe specific purpose for which they were entrusted to the church. These monies are not at the disposal of the Chijrch Meeting for any other purpose and represent- Commitment For Life Fund The church supports the central URC'S Commitment For tife project. Money given to support this proj'ect is handled by this fund. There is a special Communion Collection to support this fund. Fund-RaisinB Fund - This fund is used to handle donations made for specific causes which pass through the Church's accounts, e.g. Christian Aid. Memory Tree Fund- A weekly support group for people with dementia, and their careers, is run at London Street. The church act5 a5 It5 "bankers" Community Café Fund This fund is used for the ecumenical mission work under the Community Café umbrella and any donations that are restricted to the work of the Community Café. Refugee Rentsl Accommodation Deposit Fund - This fund was created when the Church wanted to support refugees and asylum seeker5 who were an important part of the Church. If they had their asylum application5 approved, they often had to move out of Home Office funded accommodation at very short notice, but they weren't provided with the money needed to pay deposits for alternative accommodation. Another UK charity made a grant to this fund so that the Church was able to use it to help those who urgently needed to pay deposits for new accommodation. It is hoped that some of the recipients of the 8rants may be able to repay them In the future, if their circumstances allow it, but this is not a requirement. Any money which is not used, or is repaid to London Street. shall be returned to the charity whlch made the initlal grant to London Street If there is no likelihood of it bein8 needed in the near future. Ragistarad Charty 11308Q1 P8gè 8 Statement of Flnanclal Actlvltles Unrestrfrted De5knated Re5trkned Endovm*nt fvnds nd$ funds nds Total Prior funds total funds In¢0m1￿ r*sour¢es Incoming resources from generatedlund5 Voluntary Income A£tiwtiÈs for genèratlll8 funds Investment income Total Incom• 60.867 24.678 2.5 357.878 6.198 424.943 26,226 14,683 465.851 58,346 17,920 A21 11.962 371.389 131 Costs of gtnerdtin8 funds Invp5tment management costs Char5table atu￿tIeS URC Mlnlstry & MIs51on Fund Mlnlsterfal costs Costs d church acbvitle5 Grants payabl• and resiriited th)nations P355ed c Total 169 61 169 61 36.3S7 1.9SS 54.546 36,357 1,955 134,3S3 2,039 36,357 453 60,995 76.494 3,312 2,039 76.494 5.352 174935 98.730 Net INome I lexper•Jlturel resources brfrye transf*r {49541 4.194 294917 121.6431 Tfanrfo Gru%s transfers bÈtween lunds- in Gross transters15th4vrn fuTh15- Out Other retoinlsed plns I lows Net mrnment In 95.016 177,3271 77,327 194.9161 172,343 1172,3431 44,674 144,6741 li￿) 12.n5 877 190.917 121.6431 Total lunds ￿0￿￿tI<￿￿11d 92.$67 Tatll tunth urrl•d fmrd 353,925 91,567 ft•pr•sènt•d bv UNestrlcttd Gene.ral fur 26.871 26,871 14,137 De¥lznated IO% Reselve Fund BulldSngs Reserve Fund Communlry Cafe L4a(y Reserve Fund Mini#erfs Discretionèry Fund 10.776 126.7881 10,776 126,7881 10,776 S4,2S6 11,491 97 97 Restrirted Commitrnent For kn.fe Fund Furnd-Raising Fund MvmgryTree Fund Refugee Rental Accommodat￿n Oe1>￿t Fund 231 231 1.180 1,251 25 1,251 25 1,445 Reglstered Charty 1130801 Page 9 Balance sheet General De51ffiated Restrkted Endowment Thls year Lart Curmnt ass*ts Cash at bank and in hand 2&871 26.B71 353.925 353J25 383,484 92,567 92.567 N•t ￿T￿nI•s$•ts less curmnt liatrilities 26Wi 153J25 92,567 Total assets less ¢urrent Il•bMltles 16.B71 3S4925 92.$67 Totsl nèt xsets lels liabl1￿•5 26.871 JSJJ2S 91.567 Aéprestnted by Unrtstrirted General fvnd 26.871 26,871 14,117 Desl4nated IO% Reserwe Fund Prerni52s Fltnd ￿￿11￿1￿85 Reserve Fund Legacy Reserve fund Mlnlster's DlscTetlonaryFund Communlty Cafe Communlty CafE ResÈr¥es 10.776 10,776 10.776 126,7H81 369.840 97 126,7881 369,840 97 54,356 97 11,491 A•strlrted Funé.Ralslrrf F¢Jnd Commitment For Life Fund MemoryTree Funo Communrf(y Qfe Refugee Rental kcommodatlon t*ptxtt Fund 1.1 231 1.251 1,180 231 1,2SI 77 25 25 Funth of th• ¢hurth 26,871 353,925 92,567 The Buildings Reserve Fund shows è negative balante ID 2023 due to transfers io the General Fund to meet the General Reserves poli¢y. NotÈ= The Premlses Fund was cleared at the end of 2023 as per our normal policy, wilh a trans(er 91 £65,180 from thè general fund. This wilh the hb8her General Fund reser*•e meant a £81.044 transfer from the Buildin85 Aeserye P¥nd w)$ needed to meet the General Reserves policy. Registered Charty 1130801 Page 10 Statement of assets and Ilabllltles Gen•ral Desibrnated Restrlcted En&Jwment Thls ￿ar Last year rrent assets. Cash at bAnk arKI in hrNI rJF 8ank- CCLA COIF charl￿e5 Deposlt Fund- 36.941 110.0701 26071 129,0591 382,984 2.594 10,476 373.008 383 2,086 9),481 92,567 Tatsls 2V71 355J25 38JA84 92.567 Registered Charty 1130801 Page 11 Fund movement by type Openkn£ Incomlnl OirtgolnK Transfets Gains1105se5 Journals ClosiTrg GÉn•ral- G•MrAI fund Unrestricted 14.137 14.137 88,134 93.088 17,689 17.689 26,871 26.871 S￿10￿1 lor Gener41 IOPer¢•irt. IO% R•5eThY Fund DegRnated 111776 10.n6 10.776 10,r16 Sutr*totalltt IOP•rtent Pr•mlsts. Pvami%es Fund Deslanated 65.1 65.180 65,1 Su&t¢rtal flyr fvemtses ulldlrys. ￿ld￿¥ Reser¥¢ F Des1￿atQd 54,256 54256 81.044 .0441 26,7881 116.7881 Lryacy- Lryacy Fund Des18nated 369.840 369,840 su￿11)t11 lor L4acv Fund Raldry- Fthd.Aal£kni Fund Restrlrted 2%R 1.277 386 1,180 $￿￿t0￿1f¢r Fund Ilali* CommlU71•nt. Commi1m•rtF￿u1e Restrlcted 307 307 154 231 231 I lor Commltment Mlnlstsrs- mIn￿￿r,$ DIKMtloMry De$l8n•ted 97 97 97 Su&totsl for Mlnkt•rs M•mory. Mem¢wyTre• Fund Restrltt?d 1.445 IA45 792 792 lic i1(￿> 1,251 1251 SU￿t￿lI1￿ Memmy Communlty Caf•. Ctsmmunky C•f• Desi8nated Re5trlrted 11.491 11.315 2.426 13.71Jl 11.7251 2.426 1974 Sub.tot•l lty Cornm￿￿1 C•fe 11.491 {i.n51 Communlty Café Rern. Communhy fi Reser De51anated Su&trt•lfry Cornmur4tyC•fé Resw¥es AEfuRte Reht- Relutre Rentsl Attommodaiion Restricted 1.525 25 25 sU￿tOtall{* R•lwEe R•Trt GraDdtotsl 91567 46WI 174J35 383,484 Re9iStered Charty 1130801 Pagg 12 Analysls of Income and expendlture Total ar Unfesrrfrt¢d Oes *ed Reslrlrted Endowment Thls Last INCOME AND ENDOWMENTS Incornlnu resourres fmm 8enerJted funds- Vuknitary FreEwill Envelapes L593 Loose INot GA5DSI 155 Loose IGift Aid Small I￿n3t10￿$ khÈmÈl Lireclto Bank ci'rectto Irea5urer Glft AJdTax Refunds Church DISd￿eSh1p Le8ades Gift5 In Méthtsry comm￿meNt for Ufe En￿lOpeS 8asln8Stoke Towm Centre Chap4alns Metrn)ryTree Dtsnatlt)n Heat & U8ht t>ona￿D￿& Community Cafe Don*ions Communlty Qfe Regular D￿atIOnS Communtty Cale. Y•yJth Cafe Don3tiar Uttle AN8els Grants Leprosy Mksslon Chrlstrnès collec￿0￿ EmergencyAppea D¢xatio#s (non L5UACI A￿dI0 Vls¢Jal l.S93 155 5.5B9 39.949 4.473 2.324 36,25S 1,685 39.949 10.991 10.991 150 357.878 357.878 30 31)J 120 714 2.590 1.525 9th) 120 714 12Q 2.sgo 2,$40 1,SlS 258 L5CI) 1.SCKI 174 63 583 240 316 $83 240 316 Total 60.867 357,878 198 424,943 S8,346 Incomlng resourcesfrom sthefated fvnds- Artl¥ttles fv iener*h¥ fvnds Amazijn Smile .18 Craft Group 50 Shared Meals 126 Church Irsurance aal 7.398 Communo Cafe recelpts JDday Coffee LettInAS Rthyt Church Fees Traldcrèft SUMLJ 38 50 102 126 I,D67 I,067 I,S25 307 IS,937 16.951 75 16,991 75 Tat•l 24,678 26.226 17,92Q In¢omlw resources from Yner•t￿ fvnds- Investm¢rt knmme Bank Inte￿$t 2,590 ii. 2,59D 11.962 88.134 371,389 131 131 6,329 14.683 141,683 46S,8S1 821 821 Total INCOME TOTAL Registered Charty 1130801 Page 13 EXPENDITURE Costs of 8ener*lng fuftds Shared Meals 169 Total 169 Costs Df generating funds. Investmerrt manaiement costs Bank CharRes 61 61 61 si 84 Total Charltatsle actlvitle$- URC Ministry & Mi550on Fund Mlnlstry and MIS￿0￿ 36.357 36,3S7 36,357 36,357 36,357 36,157 Total Charltable acllvltle$. Mlntsterfal costs Minlster's Eynses MIIva8e Imlnlstprl 179 1.776 1.955 179 1,776 1,955 453 453 Total Charltable act￿ltIes- Cojls of thunh xtSvltles For the reasons stated In Accountln8 Pdicy note Ic. the church and manse buildi￿ are not ta￿&ble fixed assets of the church. For Insurance purposes the chuith buildin8s are Insured by the churth for £9,384,405. The church content5 are insurEd by the church for £308,321. The or8an Is Insured for £I20.C￿. Tht manse Is Insured by the Wessex Synod of the Unlted Refomed Church. Charltable act￿ltIes- Costs olthur