DOWNING PLACE UNITED REFORMED CHURCH, CAMBRIDGE (GENERAL FUNDS) CHARITY Re8lstered as a charlty under number 1131462 Trustee< Report for the Year Ending 31&t December 2023 structure ofthe Report: Llst of Thistees and Admlnlstrdtlve Inforniallon THE CHURCH, ITS PREDECESSORS AND ITS GOVERNMENT 11 THE GENERAL FUNDS CHARITY I Purpo$e 1.1 The object of the charlty 1.2 Public benefit 2 Trusteeshlp and admlnlstratlon 3 Thistee¥ accoundng responslbllldes 111 OTHER RESOURCES SUPPORTING THE CHURCH IV THE CHURCH'S LIFE IN THE YEAR COVERED BY THE ACCOUNTS FINANCIAL REVIEW l Basls of preparatlon 2 Statement ofFlnanclal Athdes 3 Balance Sheet 4 Statement olcash Flows RESERVES
List of Trustee5 and admlnthtlve Inforn]atlon Trustees serving duringthe calendar year 2023 Se1¢e as Trustee Full year from 7 May full year full year full year 11 year to7May full year full year to25 December from 7 May Ellzabeth Mary Barrow Ailson Esther Binney Stephanie Jano Bower Colin William Christy Helen Christy Ellzabeth Cornella de Bruln-Lara Jennifer Russell Jacobsberg Philippa Millington Jones Carys Eleri Lee Simone Maghenzanl Church Seeretsry from 7 May ChaAes ChristopherAugut Pearce Clerk to the Elders. Meeting from 7 May Sheila Margaret Porrer Alan James RoberLson Rlckard Melanie julia Selina Rose Hazel Joy Sanderson Wllliam Saxton Robert Smlth Hannah Clare Stephenson lan Chilles Strachan Davld Wllfred Tatem DaphneAnne Thomas Margaret Mary Thompson Stephen Thornton Nlgel Phlllp Uden full year full year full year full year to7May from 7 May full year to7May full year to7May to7May full year full year Clerk to the Elde. Meeting to 7 May Treasurer to 7 May Church Secretary to 7 May Minister and Chair PrRnclpal Address Downing Place URC. 4 Downing Place. Cambridge. CB2 3EL Treasurer William Mackenzie Mcvey, from 7 May Prlnclpal Bankers Charities Aid Foundation, 25 Kings Hill Avenue, Kings HI West Mallins KenL ME19 4JQ Independent Examiner N Hedger, BFP cfA FCA. ChaterAllan LLP, Quy Court, Colllers Lane. StOW-cum-Quy. Cambridge CB25 9AU
THE CHURCH. ITS PREDECESSORS AND ITS GOVERNMEKr Downing Place URC was formed on 31 May 2018. as a result of resolutions to unite passed o 18 March 2018 by the Church Meedngs of Emmanuel and St Columba's United Refornied Churches, Cambrldge, and Its General Funds registered with the Charlty Commission on 11 March 2019. The history of the predecessor churches is summarised in Parts l and 11 of the Trustees, Report forthe year ended 31 December 2018. The united church is governed by the still operative sections of the Scheme of Union of the Unitsd Reformed Church. namely the Basis of Union and the Structure of the URC. Subject to these denominational instruments, it Is governed by a local Constltutton approved by both predecessor church meetings. The call and induction of Ministers and the appointment and term of office ol Elders are regulated by these documents. The Constitution was amended by resolution of the Church Meeting on 17 March 2019 to Increase the permitted number of servlng Elders. and In Wdrfjous mlnor respects on 21 March 2021, 17 july 2022 and 23 Ortober 2022. 11 ThE GENERAL FUNDS CHARrrY I Purpose 1.1 The objectof the charity Slnce the unlon of 31 May 2018. the General Funds Charity has been held on trust to advance the Christian faith for the benefit of the publlc in accordance with the Basis of Union of the United Reformed Church. as directed by the Church Meeting of Downing Place United R&forni•d Church. 1.2 Publi¢ benefit The Trustees have at all times had regard to Charlty Commlsslon guldance on the public benefit requlrement as it applies to charities for the advancement of religion. The charity fvnds enable the church to: provide regular acts of worship open to the public teach and promote the Christian faith among all ages and at all levels. regardless of background, sexuality. disability or nationality • administer the Gospel sacrnments offer activities for young people in connection with Christian worship and growth vislt and befrlend the eldertyand unwell offer fellowship and pasroral support withln and beyond the congregatlon, particularly to those in distress or poverty maintaln and redevelop hlstrirfc church bulldlngs Serve the community and provide resources for community groups and actyvities • support initiatives for Christian education support the charitable work of the United Reformed Church viithin its structures at Synod and General Assembly level; and engaEe in erumenical dialogue and artivity in the interest of a wider understsnding between bellevers.
2 Trnsteeshlp & AdmlDlstratlon The Minister and serving Elders of Downing Place URC. Cambridge, provided they are legally quallfled for charlty trusteeship, are Trustees of the General Fund5 Charity by virtue of their oITice. Elders are elerted by the rnembers. to serve for four years at a time, with overlapplng tenns to provlde contlnuity of oversigbt. There were 17 places on tbe eldership during 2022. but some were shared between two people, so the number of trustee5 wa5 greater. Trustees held roughly monthly meetlngs through the year, normally lasting two and a half hours. New Elders and Ministers receive an fntrodurtory brtefing and are referred to literatyre Issued by the Charlty Commlsslon In whlch their Trustee responslbilitles are set OUL Trustees renew their certification through the Dlsclosure & BarrIng Service at three-yearly interwals, and attend externally led safeguarding courses at intervals of not more than three years. There are various committees and groups withln the thurch, some of which have Ilmlted delegated financial authority agreed by the Trustees. A Church Treasurer. appointed by the Church Meeting on the Trustee5' nomlnatlon, exerclses day-to-day control of the charity assets in co-operatlon th the Flnance-committee. The Treasurer doe5 not have to be an Elder or Trustee, but is entitled to attend their meetings to address any financlal buslness. On lan Strachan'5 retirement a servln8 Elder in May 2023, William Mcvey accepted the office of Treasurer. As well as revlewlng Indlvldual members. needs on a regular basis, the Tru5tee5 have overseen the management ofthe church's buildings, funds. and artivities; they have arranged training to support good practice: and they conttnue to explore how the church can use its new buildings and facilities to Serve the local community. They are consulted on the church's annual risk asses5rnent, and before the adoption of pollcles actualty or potentially affecting the General Funds Charity Such as those on employment and equal opportunities, safeguardln& heal safety and fire protection. The church sends a representstlve to the Synod of the Eastern Provlnce, of which Ministers serving loeally are members ex offitho. Some membèrs of Downing Place Church also serve on the General Assembly of the URC. TrustEes' accounting responsibilities The Trustees are responsible for preparing financial statements for each financial year which glve a trueand fair view of thestate ofaffairs of the charityas at the end ofthe financialyear and of the surplus or deficit of the charity for that period. In preparing these fJnaTrcial statements the trustees are required to: Select suitsble aetounting policies and apply them eonslstenrjy,, Make jUdge[ents and estimates that are reasonable and prudent; Complywith applicable Accounting Standards, subjert to any material departures disclosed and explained in the financial statements; and, Prepare the financial statement5 on the going concern unless it is inappropriate to presume that the charity wlll continue in business. The Trustees are responsible for maintainlng proper accountSng records whlch dlsclose with reasonable accurncy at any tlme the flnanc5al posldon of the charity and to enable them to ensure that the financial state2nents comply with the Charities Act 2011. They are also responsible for safeguardlng the assets of the charity and hence for taking reasonable step5 ft>r the Prevention 3ud detection of fraud and other irregularities.
III LTfHER RESOURCES SUPPORTING THE CHURCH Besldes the General Funds Charity. a number of other re50UTces support the work of Downing Place URC. These include church building5 (incorporating halls and a raretakerfs house), a manse for the church's minister, the rental or invested proceeds of sale of earlier such buildings and a regular donation from Lewis Glbson Llmlted. URC (Eastern Provlnce) Tst is trustee of the church buildings* manse5 and invested sale proceeds. Details of these resources were given in Part III of the Trustees, Report for the year ended 31 December 2018. Although these resources do not. as capital assets. form part of the General Funds Charlty. income from each of them is paid into the GeneTrl Funds. The attached accounts therefore show hir2ng fees of the church buildings. dividends or interest from invested sale prnceeds and frorn tenanted manses in Harebell Close, Cambridge and Mayfield Road, Girton, and the Lewis Gibson Limited donation. cfhe manse in Harebell Close returned to use for a church worker during 2023, at whieh point it ceased to produce income] Conversely the accounts show payments from the Generdl Funds for repairs and malntenance ofthose church buildings and manses in current use, and of the tsnanted properties so far as such costs fall on the landlord. A house at 4 George Street, Cambridge, is the sole capitsl asset of a separats charity founded by the late Dr Helen Dick Megaw on 23 November 1978. whose object ('the general use and benefit of Downing Place United Reformed Church) is now ststed in a Declarntion of Trust dated l May 2019. United Refonned Church Trust is custodian trustee of Dr Megaws Charity and the Minlster and Elders are Its ex officlo managing trustee& The house is currently let and the net income has been accumulated to cover landlords, maintenance CDsts.. durlng 2023 the managing trustees resolved to use the assets of Dr Megaw's Charity to provide housing for the church's current Minister and his wife following his retirement scheduled for the middle of 2025. This will entail Sale of the current hou5< purchase of a new one and costs defrayed from the actumulated Income. IV THE CHURCH'S LIFE IN THE YEAR COVERED BY THE ACCOUNTS Although declslons regardlng the church's Ilfe are those of Its counclls (the Church Meeting and the Elders, Meeting) rdther than for the charity trustees as such, a brief account is Eiven here of how the church's generdl funds - along with the buildings whose use is direrted by the Church Meeting- were used during this period to further their respective charitable objects. The church comprise5 member5 of the URC associated in and around Cambridge for worshlp, witness and seryice. During 2023 five new members were admitted to our fellowship, replacing losses by death or relocatlon elsewhere. We have met for regular publlc worshlp In the broad Refornied tradltion of Chr15tianity every Sunday mornin& also for a short service in the middle of each week. and additionally on special occaslons. There have been readings from Scripture and a sernion or talk seektng to expound the Word of God at every service. The sacrament of Holy Communion has been celebrated on the first Sunday morning of each month and at a number of midweek services. In addition Open Table Cambridge, a communlty offerlng a speclal welcome at the Lord's Table to people who Identlfy as LGBTQl+ and thelr allies. has celebrated Communion in the church building regularly once a month. One baptism has also taken place. Amongst other specEal services, the church ha5 marked the first Sunday of LGBT History Month in Februaryj the fifth anniversary in lune of fts own fonnadon by the unlon of two earller Cambrldge URCS. and
Christmas services for those living with dementia and for people who experience dlfficulty at the'festive season,. The live 5treamlng of Sunday morning and some otheT services has enabled the participation of members unable to attend church. and gained a significant addlonal 'followin¥ on the church's You Tube platforn). It has drawbacks, such as requiring greater caution In selecting potentlally copyrlght materlal and Sn planning young people's artlvlty. but on balance Its beJ)efits are consldered to outweigh these,. though in future recorded services will be awrallable for public viewing for three months, rather than indefinitely. Recordin8 and lfve streaming would not be w)ssible wtthout the help of several dedicated and skilled volunteers. Communication ski115 on the part of both church staff and members are also Put to use In maintsining a church webslte glvlng access to Information about our work and convictions behind it, the maz]rte Ploce Motters and forthcoming events. These acts of worshlp have been led by our sett]ed Minister, the Reverend Nigel Uden, as well as by a number of other church members and v&siting preachers. They have been fadllrated by Elders and members taking important roles An preparntion. leading prayer and making other contributions to the Ilturgy. The Mlnlster's expenses are paid from the genernl funds, as are expenses and honoraria for occasional preachers and the salaries of the two Directors of Music who make an Invaluable contribution to worship. Fellowship and hospitality are important extensions to our worship, allowing newcomers and vlsltors to know the church as a community, deepening members, sense of belonging and meeting needs For acceplance, conversation and simple warn]th. This has taken a number of forn]s. includin8 3 gathering over coffee after every Sunday service, a monthly Open Table s(131 event, the 'Gibson's Lunch, (a full cooked meal provided on one Thursday in most months at a modest charge to all who wish), a lunch for newcomers to the church, and the 'Hospitallty Hub, (an offer of free tea, coffee and conversation. made possible by volunteers from t)ur membership for four hours each Wednesday and Thursday). We seek to ensure that all who come to the church and enjoy this hospitality are awdre of the Christian mottvation which lies behind It. The church has sought to serve the local and global community by providing space in Its building for a number of other charitable and benevolent artivities and groups. as well as by the giving of its members elther dlrectly. or through the General Funds Charity. It has responded fully and cheerfully to the request to support the work of the wlder United Refornied denomination through Its Ministy & Mission Fund. It has provided the St Columba Foundation with space to operate its Group Thernpy Centre, Cambridge for Ukralne in the support It glves to those CuentlY exiled as a consequence of the Russian inwdsion, the NlghtLite operation complementing Cambridge Street Pastors, work in support of casualties of the city's nocturnal ecotLomyi and groups such as Alcoholics Anonymous who benefit from use ofa meetln8 room at reduced rates. A monthty'good cause, approved by members (sometimes lo£al, and sometimes internatlonal) is supported by occasional retlrffing collections at worshSp, and part of the grant rnade to the Generdl Funds Charity by Lewis Gibson Ltd. Is dfverted to these rau5es or to meet other areas of need. A weekly free concert hosting musicians of a very high standard enables a retlrlng collection to supplement donations to the monthly cause. and audlences have shol remarkable geneTosiry. During the year special appeals were made in relation to the earthquake in Turkey and Syria. and to rasualties of militsry activity in the Gaza strip. An event was held drawing attentlon to Issues created for many by the rlsln8 Cost of living and dys in which this can be addressed.
The local church has contlnued to support the work of Alex Clare-Youn& the Pioneer Minister working in association wtth Downing Place URC. Alex's mission has extended to local night- tlrne bar and club venues. the staff of our neighbouring department store, and a new expression of church known as the Trumpington Forest Gathering. Under the umbrella title 'Solldarlty Hub,, an attempt has been made to foster community amongst the neurodivergenL LGBTQ+ Individuals, and other groups who have found church unwelcoming or simply unappeaiing. As well as payment from church general funds toward the expenses of this ministry, one of the manses whose use is directed by the Church Meeting has been provided, as a family home for the Pioneer Minister and wife. The church's abllity to Use the bulldlng on Downlng Place In support of its activity has been of inestimable fdlue, though costs ofcleaning and maintenance have been substantial. Such costs have been party due to the complexlty of the technlcal equlpment instslled during the building's refurbishment. and can only be defrayed from the General Funds Charity. They are partly set off by the hiTing out ofspace to external users at commercial fee5, which are payable into the Charity. The church has employed four members of stsff during 2023, Sn addltion to muslcians, in support of its activities and in managing and caring for the buildin& salaries being paid from the general funds. Staff are accountable to the Elders, Meetln& but one Elder has taken more specific responsibility for staffing matter5. During the year three people have sUc551ve assumed this role. and a review of the church's staffing strurture has been commissioned for completion in 2024. The salaried staff have been greatly assisted over the past year by the work ofjona Schmidt. ourvolunteer through the Time for God scheme. Membership of the Elders. Meetlng (and therefore of the charlty trustee body) changed In May 2023, when a number of Elders st4x)d down from active Service and replacements were inductsd. At that date new Incumbents took over the offices of Church Secretaryj Clerk to the Elders, Meeting and Treasurer. Pastoral responsibility for Eroups of church members. which each Elder takes in conjunction with the Minister and with one or two Pastoral Visitors. was reallocated accordingly. Besides 5uth regular monthly meetings. they attended an Awayday in November for artlvltles and dlscusslon on the theme of Discipleship. A n8w Safeguarding Otricer for the local church was also appointed, who has since fa¢i]itated number of safeguarding tralning opportunltles. All servtng Elders have undergone this traiulng at Interniediate level, as have other church volunteers whose duties require IL Foundation level training has also been made awallable. Safeguardlng provtsions are incorpoted In the hiring agreements made with the building's external users. As a precaution agaillst entrants who abuse the church's hospltallty and pose threats to stsff or other users of the buildin& the church has equipped volunteers with remote alarn. Issued written guldance to door stewards and enabled reception stsff to control enty. Aspects of the church'5 life have also been supported by the work of seven Groups or Conunittees comprising Elders and other church members. with remits and a core membership determined (and reviewed during 2023) by councils of the church. Their areas of responsibility are Finance: Property Management: Evangellsm & Servlce; Worship* Discipleship & Spirituality,. World Church & Public155ue5; Pastoral Care: and Sustainabillty. The Minister. Nlgel Uden. enjoyed three months of Sabbatical leave between Chrfstmas 2022 and Easter 2023, spEnt partly on retreat in Wales and partly travelling in Gerntsny with activities related to his forthcoming retiremenL During that time the serylng Elders contlnued
their collective responsibility for the church's life, worship was led by visiting or occasional preachers. and additional pastoral support was provided by the Reverend Debordh Mcvey. The Minister has announced his intention to retire at the end of july 2025, which will be followed by a period of ministerial vacancy. Preparation for this period is required in a number of ways. most of which will be covered in the report attompanyln8 the 2024 accounts. FINANCIAL REVIEW The accounts for the year ended 31 December 2023. consisting ofthe Statement of Financlal Actlvitles, the Balance Sheet, the Statement of Cash Flows and th8 related notes, are set OLrt on page5 Xto X. l Kisls of preparation The Trustees present their report with the finandal statements of the charity for the year ended 31 December 2023. The financial statements have been prepared in accordance with tbe accounting policies set out in the notes to the accounts and comply with the charitys governing documenL the Charities Art 2011 and Accounttn8 and Reporting by Charities: Statement of Recommended Prdctice in accordance with Financial Reportlng Standards applicable in the UIL 2 Statement of Flnanaal Artivitie$ Total Sncome for the 12 months ended 31 December 2023 is £449,890 (2022- £675,613). Income from genenl offerlngs is £113,169 at a similar level to 2022, a5 is tsx reclalmed under gift aid. at £25,002. Income from other donations and legacies fe]1 to £10,668 from £50,372 in the previous year. Rentsl incorne from halls is also steady at £62.220 whilst rental income from residential properties at £48,188 is showing a reduction of £14,165 due to own use by the Pioneer Mlnlster [2022 - £62.353). The distribution received from Lewis Gibson Limited, from the rentsl of the York Street Medical Practlce, Is £104.000 [2022 - £109.900). Income from Investments and Interest receivable have fallen to E48.554 [2022 - £51,688) due to lower Interest rates. The most significant reason for the lower income In the current year is explained by the on off development income item in 2022 arising due to the net funds available from the sale of the Trntnpington Street premises. Total expenditure forthe 12 months ended 31 December 2023 is £587.864 (2022 - £521,425). The costs of church activltles have Increased from £299,482 in 2022 to £345,036 in 2023. This Is due to inflationary pressure5 and ongoing increases in property costs. Our contributlon to the URC Mini5ty and Misslon Fund remained unchanged at £142,620. Expenditure from Designated and Restricted Funds showed an increase from the prior year due to special collectlons. and stsff and property costs. The most 5ignTficant Items being donation5 from the York Street Fund to good causes, Pioneer ministry costs and staff costs associated with Evangelism and Service activities. At 31 December 2023 investments were revalued at a £80.101 unrealised gain for the year £ompared to the £83.680 unreallsed loss In the previous year. Overall the net reduction in fvnd5 for the year is £57.874 (2022- net increase £70.508). After tsking account of the unrealised gains and losses and the one-off development income item in 2022, the underlying reduction in funds in 2023 is £137.974 Compared to
reductlon in the previous year of £32.138. The deterioration is explained by lower legacy Income and donatlons for the muslcal Ilfe of the church and higher expenditure in staffi property and pioneer ministry. 3 Balance Sheet The Downing Place church and ha115, and the manse building5, are held in trust by the URC (Eastern Provlnce) Trust and are not therefore tangible fixed assets of the church. The tangible red assets represent the furniture and fittings. audio visual equipment and the organ at a combined cost of £338.157 which have been written down to £210,570 at a rateof £51.889 perannum. Investments are detailed in the notes and conslst of COIF Charities Investment Fund and M&G Charlfund Accumulation unlts. There have been no changes to holdings during the year and theirvaluation at 31 December 20231s £981,868. Debtors of £36,158 conslst of amounts due from Lewis Glbson L5mlted, gift aid and hall rents receivables. After deducting sundry creditors, accruals and deferred income, net assets at 31 December 2023 are £1.539,689. representsd by Unrestrirted Funds of £265,775. Designatsd Funds of £806,838 and Reseted Funds of £467,076. 4 Statementof Cash Flows The Statement of Cash Flows shows a net outfiow of cash for the perlod under review of £99.533.Totsl cash at bankand in hand at 31 December 2023 is £336,431. RESERVES The income of Downlng Place URC, Cambridge (General Funds) Charity is dependent on the contInuing generosity of members. on income from the rental of the halls and propertte5. on investment income and on the distributions received from Lewis Gibson Limited. The balance of net current assets at the year end is £347,251. The level of expenditure on charitable artivities from unrestricted funds ar £473,962 Is signlficantly in excess of the available level of net current assets. which has prompted transfers to designated and restricted funds and a review of activities and priorities for the future. The trustees conslder the going concern basis is appropriate at the current time in vIew of the significant level of reserves. Slgned on behalf of the Trustees: Re¢d. Nigel P. Udett (Mlntsterand Chalr of 7tustees) 8 May2024
10 INDEPENDENT EXAMINER'S REPORT TO THE TRusfEES OF DOWNING PIACE UNITED REFORMED CHURCH, CAMBIUDGE {GENERAL FUNDSI CHAIUTY I report on the attounts of Downing Place United Refornied Church. Cambridge (General Funds) Charity for the year ended 31 December 2023, which are set out on pages 11 to 20. P9 RESPONSIBILITILSAND BASIS OF REPORT As the charity's trustees you are responsible for the preparation of the accounts In accordance with the Tequirements of the Charities Act 2011 ('theAcY). I report ITJ respert of my examinatfion of the charity's accounts carrled out under section 145 of the Art and in carrying out my examinatlon I have followed all the applicable Directions given by the Charity Cornmission under section 145{5)(b) of the ACL INDEPENDENT EXAMINBR'S STATEMENT I have completed my examination, I confirni that no rnaterial matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: l. accountlng records were not kept in respect of the charity as required by sectlon 130 of the ACL. or 2. the accounts do not accord with those retords., or 3. the accounts do not complywlth the applicable requlrements concernlng the form and content ofaccounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts glve a 'true and fairview. whlch is nota matter considered as part of an independent examinatt'on. I have no concerns and have come across no other matters in connection wlth the examination to which attention should be drawn in this report in order to enable a proper understandlng of the accounts to be reached. N Hedger BFP. CT ChaterAllan LLP 7 Quy Court Colliers Lane Stow-cum-Quy Cambridge CB25 9AU CA Date., 19 June 2024
11 srAITMINTOFHNAIICIALAcfJviTiES FOR THEYEAR EFIDED31 DBCBAIBER 2023 UtsrÈstrIrted Desjgllated RÈstrJcted Nots Funds Funds Funds Totsl 21123 Total 2022 Incom• DoDadonsand le¢5 Charitsb)ea¢dvldes Otherthocomeand donadoDs In¢t)me frt)tn Invt8tsnÈnts DevelopmentlDcorne Tfjtsl IDCOmè 2(a) 2(b) 2(c) 2(d) 21e) 141362 99331 7800 43,629 7,176 25.582 174,120 IZ3.216 104,000 48554 204,242 12&321 109,9(Kl 4&B24 18fj326 675 43,882 449,WJO 13 26.OlXI 4,925 362 Z3 Expendlture Charitableactivitiu: URC Mlnlsty LdmIsSIon Fund Mlolstertal COSL Costs of Churehacdvldes Des1prUnds and WDlcted dc¢nadons pa5sqd on Governawecosts TolaleKpendlt¥ 3(8) 3(b) 3(c) 3(d) 31¢) 1416ZO 3&115 294,907 142,620 53,IB8 345,036 45.7 142,620 44,779 299.482 33.224 18,073 H474 23.016 S,655 23. 20 85 63 ZB 39 52 Nei incomel(dtfidt) before InveJtn)en¢galns I losses {IIL639) [41,B78) 15,$43 {137.974) 154,1 Net galnsom Investmtttts Unreallsed Ilos$1/28lns onlnvestrntntassets P4et lrtc•me forthe ye4rbefore trgnsfers (IIL639) 38,223 15.543 [57,874) 70.S08 Transfers betw (unds 100ffj53 (IZ525) 188.1118) Netmwementln Fund5 [11,0061 25,69B {72,565) {57.874] nd Balanct¥ b/[w at I la*uary2023 27A781 781,140 539.641 1597.562 1,527,054 Fyttd Bai•ncey clfwd al 31 Decem11023 265,775 806,838 467 076 1539.689 1 $97 562 Income and expenditure is derived solely fiM continuing opertions. The note5 onpytss 14- 20 fornl partofthese finattciai statements.
12 BAIANCE SHEET SAT31 DECEMBER 20Z3 2023 zozz Note FIXEDASSE15 Tanglble FlxedAssets Investsnents 210,570 981.868 262.460 901,767 CURRE ASS5 Debtors Cash atBank and In Hand 36,158 336431 372,589 41,304 435,964 477,268 (IIRRENT UABIIJTIES CTrdltots Due Within Oneyear NET (IIRRENT ASS 347.251 433,335 TOTAL ASSETS LESS CURRENT LIABIUTIES L539.689 1,597,562 CTEditors DueAfterOne Year NET Lssrrs 1597 562 FUNDS Unresrrictsd Funds Designated Funfjs RestiieLed Fund5 265,775 806,838 467,076 276.781 781.140 S39.641 1539 6B9 Appmved by Eldas. Meellng held on 8th May z0z4s5ed on its behalf by 'd Njgel P. Uden Ministerond Chairof the me*tin9 jin Christy Thte¢ and Convenorof the nqCe Cornmittse
13 STATEMENT OF CASH FLOWS S AT 31 DECEMBER 2023 2023 2022 Nrte tbelowj Cash flow from operatingactivities: Netcash {absorf)ed by} I provided by operatingactivities (148,088} (125.128) Purchase of fixed assets DivideTKLs and interest [10.684) 48 554 824 Change in cash and cash equivalents in the reporting perfod [99.533) [88,9B8) Cash and cash equivalents at the beginning ofthe repwtiDg period 435 964 524,953 rash and (ash equlvalents at the end ofthe reporting period 336 431 435,964 Notes to the ststement of cash flow A) Reconciliatiwi of net income to J)et cashtknyfrom (weratingartivities Net (expenditULf)Iln¢om¢ forthe portIng perlod as perthe statementof financlal acdvltes Depreciation Unrea]ised (gains)n05ses on inveslrnents Dlvldends and InteJEst [Increase)Idecrea%e in debto [Decrezse)/increase in creditors Net cash pr(wlded by operatln8 artlvltles (57,874) $1.890 (BO.101) [48,554) 5.147 18,596 148.088 70,507 50.821 83,680 (46,824) [11.996) 271,316 125,128 Bl Atlysts ofcash and cash equlvalents fasb at bankand In hartd 336 431 435 964
14 IK)WNING PtACEUNTITD REFOIIMED I]IURCIi CAMBRIDG4 GENERAL FUNDS IYAIUTY IFrESTO THEFJNANCIILsfATEMENTS FOR THEYEAR W4DE0 31DECE18Eft2023 I ACCOUNTING POUCIES Do4¥niD¥PIACtUn5ted Reforniedthurth CAmbrldge. (fvepal FuDd5) Cb£tity (tthE cjjarl, its apublltb0neffttlaSd1lnedbY FR5 102. ThèlIn1al stAtements havebe•nprepJrèdlnattordanceMrfthAccovAtln8and ReporOngbyCbarltTe¥.' 5tot•me0f Recomed Practlce appliLxbieto charities preF4rln8Accounts knAccTrraHuwlththe FlnJctal Repojthg StanO3ydappltcabloto th2UKAndRepubllr of Jre]•nd (SORPFR$102), the Financial RepoThn8 StaThdardqppliLxble Enth?UnltedKln8dornand Republlcof Irtl•JLd (FR51021. andthe ChArltlèsAct 2011. The FIMandal statemeDts YprepaTed ona 8olng concernbAxls under thebistoricai cost Conventio madifiedt include certain itwns gt fBirvalue. Si8nificantaccowJtin8polLLICS applirdart setoutbelow. Thegepollcies haVebe4pPtIIC0UIithn1Y to4llytarB wileEs othen¥iseJtth TheTrnstees nSIderth9ttheSQlDc0ctTh b851s i¥ 8ppfopT14S tbryeollsldertheAeéS levels deAeted kneomttsb•at &ufftdentlevel3 toerLsurfrthAtthe charlty tetIts financlai ob15Wlon5 brthe nÈ IB monthll. Ic TaDglble FIXedAets FreEh•ld Propcrty. Tht cThurchbuildlngts theassetola 3epA2Xte clwitsbie as artthe nwsej w.hichsETve orhkvesthtr Ojupth. Theyare inthe truBteellhip of thTrUnitsd REfQrrn QLurch (TthernPEatAn¢e) TntstdndathBEpfottllDtlncludedinthe5 counts AS llxedassets. However, the General Fund5 Ch4rlty rerelves Incornefrom hirinBS orlettiny ofthpsepropBrtIN aDdlnTettJrn thp costof WApÈlldltureotsthem (wh5chls Mry4ttwoff Intheyttrltls IncLJrTed). DepreclAtlon b provldedon411 Ilxed955ety oniJtral8bt lkne bA5ia c4lcwlatedt014tr1teoff the costovtrthelreyctedusefvl livesi follomry.. Fixturts aDdfittiD85 (itteilldlty8thÈ OryAtt) Audiovisual andqUipnDt 10 years strawt lkne Syars xtrai8biline Id Investmeots Investullts are lttcluded at thelr faSrvalue, whlcb Is notwlly dlrnwketvalue on the balance sheet date. Chan8e5 tDvaluatiOn DVEr thÈyear are reeognlsed ln the Statement of Flnanclal Artlvltjes. The Trusteesljave deaded to reta2n short term funds in cash reSErves whlch Are rf$k free.provSde forseasonai fluctuatlons In operatin85hROws and coverat lea5tsiY months. Èxpendittire, and to hold medlum to longerterni investments in charitsble investtnent funds and uNit tn]sty in actordAnceMdth the cha's Investment Buideliue5. le Income All voluntaryw'vin8TS included in the finanaal state]net)ts forthe perlod lllmthlch Itls tcelve& DoDatJons underGIftAldplus tlhe a5SQtiated tax rÉttsvÈryare rcognlsed as lttcome when the doDatlon Is rettlve(L Legacles are accounred forThtheuthelr recelpt ts cerraln 2Dd canbe property quandfletL All otherlncome Is gerallY recognisedwhenjt Is recelvable. If ExpEtidithre The URC Mlnlsty &Mlsslon Fund contributlon Is pald re8ularfy and 1$ iDclud?d the finatIal ttAtemettts for the yearto tt relates. Expenditure 15 recognlsed In the perlod In whlch It Is IDturred and Includes attrtbutable VATMthsch caDnotbe recovered Itls allotated to the partlclllar artlvlry to whldi It relates. Governance costs represent direcr ee]Idsl OTL the governance (bfthe IDcludkngthe Froductionand ependentScrnttnY of thesefinancial statements. The malorlty ofthe anageMentaa actjvlty of the Churth Is carried outby YolMr)teers.Th15 inta]Jglble w5tts Th)tITKlutslln the fltwidal statements, as thlsvoluntary contrlbutlollts the Ilfe of the Chur¢h (1)0tb¢ reasoDabty ¢aJ¢lllated. 18 Taxxuo DoNmSn8 Place UDlted Reformed Chllrckn Cambrldge (Genera] Fund5) Charity ts a reBlstered cbarfty 3]ul a5 5udL is not Ilable to ttIOn. Ih CoDSolldtedfinanC smements The cburch Is exempt from the requlrement to prepare consolldated flnanclal 5tslejnets by vlrtue oFSetdon 24 of Charitjes SORP FRS 102 (20191. Accordlng]y these financlal statements preseat IDftsvm2tton aly)llrthe charfry as a slryle enttty and do Dot consolidate lfOatio respertofLÈwls Ctbson Llmlted.
15 IIOWNINS PtACE UNITED REFORMBD cHIIRc CAMBRIDGE. GENERAL FUNDS CHARITY NOTES TO THE FtNANCIALSTATEMEPITS FOR THEYEAR ENDED 31 DBCBMBBR 21Y23 2 INCOME Funds Funds Fonds 2023 20ZZ {a) DOnathsaId k8Kles: 111169 2&002 113,169 113,407 24,8ZO 10.78D 50.372 Tax reclalmed utth¥ftald Special offerllles and donations rtteiveA4 Otherdonadolls and le8acles Grants 21684 21684 10,668 97 174 IZD 3,191 4.579 141.362 7.176 25 199 78 Ib) 111bItIvFtIeS. Rental Inromefrom hall lelbnB5 Rental Incomefrom resldendal prOlIeS Fund rd151 evats a]Ml other1]K0e 62.220 29,888 7.223 99.331 62.ZZO 48.188 li 123 6150 62353 la30 5,584 16 21 (¢) o¢herknwne ond doDatlons: DoDadorts from Lewts Glbson Ltmlt 104QUO (rf) IncoThe from Jmvutmen Bal interwt& dlvldends 43.629 4.925 54 54 51,688 (e) i)eveloprnent IrKgme Proceeds frorn sa]eofprowty avallable for mlsslon 18 326 TotAI irttomt 675 613 3 EXPENDITUR8 Total Fw•ds T¢1tslFlaS 2022 Funds (a) URC fitrk151ry &Mtsslon URC Mthlstry alMs1( Fur•l 142h20 142ts20 142.620 142h20 14220 141620 The Church coDtTJbutss to the ceDtra] URC costs oftr*nlDg and providlngmJn15te]s (lacludlDgthe ltrAlIsedllet of Stipen penslon contrlbudons and Dther beDetits fDrnthJ15tEE5),nThnkn8the dÈllDndtttty attd the wlder mjsslon ofthe natAonal cburcb. MIDlyters' exwL8es PloLeer Mintsty Worship resOUe5 Visiti8 rniT)i5tPFS Mts$1¢3J Ilfe oftbe Church &231 31 15,222 L731 L014 2&990 5&188 IOh42 10,526 979 1262 21570 44779 15322 1.731 L014 24,139 35.115 2351 1&073
16 DOWNING PIACE (IT4ITED REFORMED CHURCH, CAMBRIDGE, GENERAL FUNDS CHARITY NOTES TO THE FINANCLIL STAITMEPITa FOR THE YEAR ENDED JI DECEMBER 2023 3 EXPENDITURE 2023 3022 (c) Costs of ClwrfhActtvitles Premlse5 twthgcost Rates ald utllllles ID511rasKe Repaln andmalntruan Caretthrand cleaolng IT andAV DeprÈciatioD 370S 10228 62J09 S400 3.129 SI90 2O0A121 2357 217 957 40222 10,W27 7S312 3WO 3,129 SiA90 216,180 28.235 10220 67584 223SI 6.152 SOA21 185363 482 396 11131 4As28 AdmlDlstratlOD ¢OSts.' Office ¢osts Staff corts Bank(kn8es aDd IDterest Bad Debts 22,781 71fi14 270 221 94A86 L414 18,439 24195 90p53 530 221 21937 8L780 323 19,915 104039 MLsslon OlltreadL' DonatloDS Htsb Htsspltstlry & Other&e$ Gibson LUD Ttme for Ggd Sabbatjcal CD6ts 4116 1.014 8200 I00 11430 L627 5.743 lJI14 7h86 594 4TrJo 14At57 1ffj27 294907 44.474 55 345A136 Z99h82 (d) Des1glled fwids and restrltted dOnad0 passed o Commlllnentforuft De5iBllated Fottds Special Collertitrbs 10339 10239 23x116 12A4S 45.7PO 10.800 22.424 23x116 12.445 22 84 23 16 33324 (r) Goveruaare Cosis IndepelldÈDt En[ner L320 20 1.320 1,320 1320 473.962 85.563 39 587A64 52L426 (Q STAFF COSTS ExpeTLdlture IndudES total 5t4ff custs oF£12439 (2022- £101.708) asbelow. The avera8enumberof stsff ID the yearwa5 5 (2022- 5). Z023 2022 GrosSs21S aTd wa8es Soclal seturtty¢osts PeDslon costs 113.005 4,335 7.299 IZ4h39 936B 33 OM07 IOL708
17 DOWNJNG PUCE iINITBD REFORhlED ClIURc¢AMB]UDGE, GENERALFUNDS CtIARITY NOTES TO THB FINANCIAL STATEMENTS VOR THE YBARENDBD JI DECEMBER 21Y23 4 TANGIBLI FLXED ASSBrs EqulFmettt Cost atl lanuary2O23 3¥157 339A57 DIsp5a15 Cortat3J DEcernber 2023 338,157 33&157 Depredaon at Ilarvary 2023 Depredatlon charBe foryear Ellmlnation ondlsposals Depredatlonat 31 December 2023 159? s90 74697 SU90 I2767 127ts07 Net bookvalue at31 DeLmber2023 Nét bookyalueat i lamwy 2023 210 70 210570 261460 The ¢lMr¢b and n)awe bulldly are held in tnutbythe URC (EagterD Prnlwe)Trurtsnd 8re KDtlaD8ible fixed assets ¢>f the Charlty. For ltrsurance purpoBey the churcb bulldtn85 and b8115 gn kn6und bythe tharitylor £gA98A57 ahd the nwues for£ioooiion. The dllurlL CUDteDts are Insured by tbe charttyfor£245A3 S IVEENTs Z023 zozz Markdvdlue ot ilAlluary 2023 Additions NttunTeaJlsedl loss)/plns Marketvalue ot 31 D#emiv2023 Made up follows: COIF Chthtte5 InvesttnentFLmd. John Ha]1 Fund M&G CtharJfundAcc¥mtslaiton Unfts COIF Charttles Investment Fund. Jncome Unlts COIF Charftles JnvesknientFund-Accumulatlon Unlts Sha$ in kn¥is Gib50n Limited 90L767 985.447 83 901767 170,504 244.173 359,976 207,213 155,2SS 235,622 327.782 IB3,107 981868 901767 All inyesknentittcome Is alloca to utwulctÈd funds.All Inve5tment8alns and1055e5 areallocatl to De$iwtrdFw$. The inves0nt1ft shaTrs In Lewis Glbson LIMIt represents inttrestof 66.67% Inthatcompany. The PTlnclpal acrfvlty of Lewls Glb5Dn tJmlted Is theleUiuKof Lewis Gibson Howse &% a dodorfssuryery. Any surplu5 on thls acUYlty 15 Bfdnted to the charity. Fortheye8r ended 31 December 2023 Gibson lamited1 turnoyerof £191.178. saerated a surplus on ordlnary actlvllJe5 afterts%abOll of £104369. and madea8iftaid uf£104.000 ID Duwnln¥Place URC At31 Dffember 2023 Lwls Glbson Llrnit&l had anetdefititon capltsl and rese5 of £180.240. TheDlrectors ofLewls Glbsott Llmlted havelndlcaredthelr intention to makea comparable grnnt ith futyTryears notdirectlyto theDPIJRCC(GF)G buttothe swatr Dowtting Place United RefDTmd MissioD Charjty, which was founded In 1907and reBulated by a Charity Commission Scheme t)n 13 octob 2023. 6786 ofthe Incomeof theMIs5Lontharlty ts Appllcable forpuryos* of a)rtstlanmSsslon deormined bythechurch Mety of DPURG andlt15 anticipatedthatth15 Pn)portion of the8rdtlI sdll p&%s Intr) the DPURCC(GFIC. 33% ofthe incotne Dfthe Mission Chartty 1$ 8ppllrdbleforpurposes of tsURC's Chrfstiari mission deterniln by thesynod ofthe URCS Eastern Provlnc& lils anticlpated thatthis will iEu5ed to CDYeT pioneer]uiiJ15tsy rosts defrayed fmm the DPURQC(GF)C until 2027.
18 DOWNING PLACEiINITED REFORMED CHIIRCIL CAMBRIDGE, GENERAL FUNDS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THEYEARENDED 31 DECEMBER 2023 6 DEBTORS ZOZ3 2022 DebtOT5 OtherDebtors Prepaynwits andAcmed Income TAis Glbsoj) lJmlt• 7.158 21404 19,9(K) Y CREDITOR&. amtyjttts falllngduewtthin ooeyw. 2023 2022 Cr1101$ Aten5 12.955 12 8.119 35 15 8 DESIGNATED FUNDS Balattce EXPdI YorksttFuDd CibsoD'S MuslcaI Llfv Evan8elSsm and Sejvlce John Hall Fd 30553 1.740 18J46 555fj69 174A32 781,140 26NO L041 S,176 7139S 21),174 [23Xt16) [114) (U51) [55222) .360 ,503 31537 L767 20,671 570211 180,6S2 B06038 {1531) I25 The ubove Pund$httvtbéth &esl8nutedforthefdiowlTrg purpose&. York Street FUd- to Tecelve tbe grt fro Lewls Glb50D [te¢land tD d15trJbErte to g(KKI causes atbo]ne gnd overseas. Glbson'5. to recelve Income fronl tbe monthly luDch dub 3ud to coutrlbutetDa chr15tll5 1vDCh8TllEwjt¢hen equSpwttL Muslcal Llfe- tQ 51st{ themle of mwlc ltsthewoT5blp, Ilfe and outreach ofthe Churth. Evangellsm SpTYI(%-to supportthe outreathpro8fduLtThe Df the CtLurth. lokn Hall Fund. Thls fimd wa5 Setp wlth the ]nouey reLElved Ill excess ofthe Church rebuIldl8 rosts In 1993 and douions from Dkejnbers aud frleTMls ID meraory of lolbn Ilall. The funds arE forthe support of )nlssSon and rnuslcal actOYltles at howe aud3bro4 (wlth foLW on supportlDgyOUnBpeoplel SO% of the costs ofollr c]rCh 1¢12 were trallsferr to the lokn Hall Fund at&*year en plu5 an adjuskuellt of £96 to rreL£ HD erTor aprevlousyear.
19 DOWF41NG flACE IINIT£D REFORMED CHURCIL CAMBRIDG4 GENERAL FUNDS CtIAR]TY NOTE5 TO THE VINANCIALSTATEMENTS FOR THE ENDED 31 DECEMBERZOZ3 9 RESTIUCTBDFUNDS The church accounts Jnchthnloe Re5trlthdFuDas, pthre the nwule$ c¥Jh only be llsedfor thèspètlAcpurpose forwhicbtheywere eDtsNstedtothe dmthThv5E DDIeS w notat the dlsp05ai ofchurcb Meetlng forahyotberpllTpose, aTrdrepres8nt Bfwd Cfwd Mlnlstry & MtsstOD FuDd BenevolentFulld 4 GeoryE Street Fund Coillmltf0r Ufe Castle End Mi$51oTJ Fund Earniarked Funds & Glvlng fOrothe FuDd D¢ve10pment M1$51oD Fund Spedai Donatkms Fw &200 3263 S1988 6200 3363 67260 18300 10239 (4m8) (10239) 1861+72 1,920 288A98 (S555) 151JJ17 1.920 237?16 1898 (317) (51453) 539h41 43.882 28339 IOB 467J)76 The aboveF4rtdshovebeen restrt¢¢¢dforth¢lollowlngpurpoM' MJnl$tsy &MlssloD Plmd. to supportSpecthcprowam costs rEl8dn8to MIs51¢J BenevoleDtFulld- to be applled In cases of ImmedlatEDeed at the m$St¢ dlscredo 4 Georye streetF¥nd- thenetproceeds from the retsts] olthe George StreEt property. tobe used forthe Churci as deternd bythe Elders {asTru5teES of tbe Me8awTTht) CoNwbltmPDtlor Llfe. to supporLthe DaUoDa] URC world deVelpMentPro8rmMe. Castle End Mlsslon Futkd. fortbe boldln8of educatiolltl ottter dagge$ a)hIettig¥ of are91all$ aftdphllanthrople 25% ofthe Mln15try alld M1551¢)J expenseWastratferred to the Casrle End Mtsslon ZOZ3. Evangelisth aDd SeNice. FundraS5108. aiiiouiitsratsedw fundraislngts equlp the redeveloped Church formlntffjyalld rofund ollgoti¥evaDBell$m andsetvice work Eannarked PUD& & GlvlTJ8 for(ltherSFW- foTsopportin8chaEitable CaesrOUgh IontbIY appea15 and donation& Development Mlsslon Fund- to support on801nis$$lOts a¢ttvltle%lD part5clllar.to enable on8oln8 malntenaKeand lylrOvemellts to tbe Churcb'5 buildiogs amd rd assets. The expeme ofrÈpatrs and malDtenaDce and 25% of cleanlnB costsweretraDSterredtsJ the Development Mlsslon atthe year eDd Speda] DonatloDs Futtd- ty recelve dollatlonstowards the molltbtySpe(tal Cae other good causes 5nllne wlththe Church's mls610 10 ANALYSIS OF mETsE[S BrrwEEN FUNDS Unrestrirted Designated Resblcted fmblned ds fvnds ds T3llgibleFixed A55Ets Invesbnwts NetCuNÈntAssets Fund BaJan¢e 210570 514,792 81,476 210.570 98L86e 467.076 26S 775 265.77S 467.076 11 REIATED PARTIES Lavi5 Glbson Llmlted i5 a rdaiEd paty oFthe ajurclL by vithe ofthe beneficla] holdlng of 66.67% Inthatcompany. Transactions the Chu]rh and Lewis Gibson Llmited aredisclosed in nDte 5 kn theacrounts.
DOWNING PLACEUNrrED REFORMED CHURC14 CAMBIUDGC GENERAL VUNDS CHARTrY NOTES TO THE FINANCIAL STATBMENTS llR THE YBAR ENDED 31 DECEMBER 2023 12 STATEMENT OFFINANCIALAcfMTIES FOR THB YEAKENDED 31 DECEMBER2022 U•restrlaed DeBDated Restrfcted Funds Funds Note 2022 Dollatlo and le8acies Clwttable xcttv5tles 0therjncon and dohatlot)s Incon)e from tajvestments Develtspment IucoD Totsllttcome 2(3) 2(b) 2(¢) 2(dJ 2(e) 135378 109J)35 81425 34242 753 27A75 29,758 IB 199378 IZBX21 109,900 51Me 186326 67 13 186J26 254617 378ts37 61409 haritable actfvllle5: URC Mln15ty andM15&h Mln15t8rJal costs Cosrs of Churcb actlvltiEs De$lted fidS ad restrjcred douatlow pa6sedoD Governance costs 31a) 31bJ 142.620 31.879 287171 141620 41779 299.482 12,900 8.690 1121 3(d) 3[e) 21424 lo00 33224 1320 521425 463,491 4i014 13.921 Nettncolll(dIfitlt)be10re lavestmentgalDs I Ios5eB (B4.964) 18,455 220.696 154187 NetBalns on IDvestmellts Unreallsedplns Dn IDvesttuent assets Nelts¢oD fortbeyeaT befoye transfers 83 (6W5J 83fj80 71507 (8£964) 32Q69é lo.0 (ioJJooJ Netmovemetttjn Fullds 964 220