Riverside Church Annual Report
& Financial Statements
For year ended December 2024
Registered charity no. 1131872 Company no. 6983393
This report covers the period 1 January 2024 to 31 December 2024
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Riverside Church, Thanet Way, Whitstable, Kent CT5 3JQ www.riversideuk.org
Introduction
Riverside is a vibrant and growing affirming church community of adults, children and young people meeting in Whitstable, Kent.
The church was established in 1925 and has been faithfully worshipping God and serving the local community for nearly a hundred years.
Our aim is to be a blessing to our community through sharing the love and compassion of God to those we meet.
Having our own building allows us to hire rooms to commercial and public-sector organisations during the week. This conference activity generates an income stream that supports our charitable activities.
We also have an on-site café which forms a community space right at the heart of the building. It provides a relaxed, friendly environment where everyone is welcome - old friends can come together, and new friendships can be made.
Our goal is to see the transformation of our communities through the goodness of Jesus.
We believe the goodness of Jesus is for everyone and we are passionate about helping people encounter his life-changing power.
Our broad aims continue to be the following:
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Creating spaces and opportunities for people to encounter the good news of Jesus and His transforming presence.
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Equipping and supporting people to do life well.
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Bringing practical and spiritual relief to the vulnerable and those in need.
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Doing things well.
Review
2024 has been a year where we have seen all our compassion projects grow significantly.
All Wrapped Up saw the parents and carers of over five-hundred and thirty referred children from all the local schools in Whitstable and Herne Bay, come to Riverside to chose presents at our free Winter Wonderland. We also gave two-hundred and five families food vouchers and treat bags, feeding over eight hundred people.
One of our church members created a bespoke software system to handle all the client referrals from the school family liaison officers and health visitors. This proved invaluable in helping the smooth running of the project.
We held two quiz nights at Riverside this year – one to raise money for our Holiday Hunger project and the other to raise money for Headway and for the Air Ambulance. Both were a tremendous success and raised much needed funds.
In September we held an appreciation meal at Riverside for all the volunteers involved in the Haven project. This gave their trustees an opportunity to thank the large team and cast vision for the future.
The church has also begun to explore wider connections with other affirming churches following the Fruitful conference in May.
Lead Pastors Simon and Keely attended a leader’s gathering at St Mary’s Bryanston Square in November to build relationships and look at how support could be offered to churches exploring inclusivity.
2024 has once again been a year where we have seen God do amazing things through the life of the church. Our reputation with the local community continues to go from strength to strength as they see the value that Riverside adds.
Our vision to be a church that is ‘good for everyone’ continues to grow and we look forward to all the opportunities that the new year will bring.
One of the highlights of the year was our first same-sex wedding at Riverside. Mel and Di got married in July with a packed auditorium full of friends and guests. For many people it was their first experience of church, and we had lots of positive feedback and comments.
Objective 1: Advance the Gospel
2024 was a year where we focused on developing our culture to be ‘good for everyone’. We used a Sunday series called ‘Foundations’ to unpack some of our core beliefs as a church. This led into a second series called ‘This Is Us’ where we outlined some aspirational distinctives for Riverside as a church:
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In our relationship with God, we try to be intimate, expectant, inspired and led.
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In our relationship with ourselves we believe we are loved, accepted, and being transformed by God.
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In our relationships with others, we try to be honest, authentic, and interdependent.
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In our sharing we try to be relevant, real, and good for everyone.
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In our outlook we try to be welcoming, loving, inclusive and safe.
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In our actions we try to be kind, generous, helpful, practical, and responsible.
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In our thinking we try to be open, always learning, and comfortable with questions.
The church continues to grow, and we expanded our children’s ministry by adding an additional group called ‘Mayflies’ for the nought to two-and-a-half-year old children.
Creating spaces and opportunities for people to encounter the good news of Jesus and His transforming presence…
We continued to welcome new people to Riverside hosting a Welcome Evening in February where thirty newcomers had chance to meet each other, share food and hear the history and vision of the church. We also ran an Alpha course for people wanting to discover more about the Christian faith. We held two baptism services this year with ten people sharing how Jesus has changed their lives.
We introduced ‘Pause’ weeks at the end of long sermon series to encourage people to recap, reflect on what they had learnt and then think about how it relates to their lives. These have proved really popular in helping people apply good principles to their lives.
We took a popcorn machine to the Welcome Fair at Kent University to give away free popcorn and tell new students about Riverside as an affirming church in the area.
We attended the first Fruitful conference in May, and we were invited to be on a panel to discuss ‘leading your church into inclusivity.’ We continue to support other churches across the country looking to make this journey.
Equipping and supporting people to do life well…
Objective 2: Improve Life
Riverside continues to host and welcome a wide variety of people. Our Sunday morning services provides a place of connection, support, and practical teaching to equip people to do life well.
Our work transforming part of our building into a Youth Hub continued and we were able to open it in the middle of the year. This has been a large financial investment for the church but is proving to be an incredible resource for church youth and for the community. The vision was to create a space where young people felt safe – a sort of ‘home from home’ – where they could be themselves. The Hub has a number of different ‘zones’ including a bar and kitchen area where young people can prepare food and drinks. There are also gaming, chill and activity zones.
In July we employed a new Youth Pastor, Abbie Beale, who is now working with church youth and also has been invited into the two local high schools, The Whitstable School, and Herne Bay High School to do mentoring and support. Since Abbie started, our engagement with young people has soared, and we are partnering with local youth workers and organisations to provide excellent provision.
We have also hosted young people from the FAR Academy which is a full-time Independent Specialist Post 16 College for young people with EHCPs, who struggle with their social emotional and mental health and provides practical learning in a safe, holistic, and nurturing environment.
In June we held our first Riverside Camping Weekend in Meopham. The event was an enormous success with around one hundred adults and children attending. We had lovely sunny weather and many great activities across the weekend concluding with an open-air service on the Sunday morning. It was the perfect way to build community and enjoy extended time together.
We hosted three ‘bar nights’ to help create connection across the church and wider community. They were hosted in the café, and we invited local musicians to provide live music. These events were well attended, with lots of friends and guests experiencing the Riverside community.
We have invested in our volunteer leaders with two events and lunches, with guest speakers David Steell from One Church Brighton and Rebecca Swansbury from the Diocese of Canterbury.
Bringing practical and spiritual relief to the vulnerable and those in need…
Objective 3: Bring Relief
Growbaby has had an amazing year and has really flourished. We moved down to our new home in the Youth HUB in the summer and we have had lots of positive feedback from parents who love our space.
Growbaby gives away excellent quality clothes and equipment for children up to age 5 to any families in need – no questions asked.
Since it started six years ago it has grown from having a few families visit to now having anything from twenty-five to forty-three on any given Monday.
During the week we have referrals from Social Workers, Early Help workers, Health Visitors and Midwives who are all dealing with families in crisis and need our help. And they are coming from as far away as Medway, Folkstone and Dover such is the need and lack of provision.
We help them with everything, from buggy boards to stairgates, to full pram systems and we fill moses baskets for new parents with everything they will need. They know that Riverside is the place that will help them out when their families are in a crisis – when often they have nowhere else to turn to.
In 2024 we completed the second summer of holiday hunger. We went from working with just one school in 2023 as a pilot, to working with four schools with thirty-three families feeding eighty-six children.
Each week during the summer holiday, eightysix food bags went out – forty-three with lunch foods and forty-three with bread products and fruit. Each bag held enough to feed two children. God’s provision has been overwhelming and to see people’s circumstances and hear their stories has been very humbling. Our plan is to continue to extend this project and work with more schools during 2025.
We also continue to support several local projects with finances and volunteers. Some examples are:
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Street Pastors – a caring night-time presence on the streets of Whitstable and Herne Bay.
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Haven – a project providing care and support for the homeless and vulnerable in the Whitstable area.
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Coastal Family Hub - providing mental health support to children, young people and families in Whitstable, Herne Bay, and Reculver.
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Doing Things Well
Staffing: This year we added Charlie Leys as Business Development Manager – Riverside Conferencing, Abbie Beale as Youth Pastor and KC Hunnisett as Ministry and Welcome Facilitator. We also said goodbye to Kim Wood who retired from her role as Church Administrator.
Site: Our main project and financial investment this year was the completion of the Youth Hub and Growbaby space. We secured a grant for a Pana football cage for the Youth Hub. We also invested in new signage and gate flags to help improve navigation to our site.
Events: Our conferencing and event hire continued to grow throughout 2024 with many organisations seeing Riverside as their venue of choice. In February we hosted the ‘Queer Joy at Work’ conference for the local council.
We have created a new website for Riverside Conferencing and continue to develop excellent networks with local businesses and community organisations.
This involves everything, from the way we relate to people, to the way we manage our facility & develop our organisation…
On-Site Partners: CXK uses Riverside as a local hub for their staff as they provide career guidance and training programmes to help young people build the skills and confidence they need to find a job.
Volunteers: We actively encourage people to volunteer their time and get involved, serving in some capacity.
Projects like All Wrapped Up and Holiday Hunger mobilise hundreds of volunteer hours from within the church and the wider community to serve families in need.
We have a large volunteer Sunday team which facilitate our welcoming and serving culture.
We also have had new volunteers joining the office team during the week.
Riverside could not operate at the level we do without the dedication of our volunteers in the church, and from the local community, and we are hugely appreciative of their ongoing generosity.
Connected Charities & Partner Projects
Riverside continues to be an active supporter of Churches Together in Whitstable (CTiW).
CTiW provide Street Pastors who patrol every Friday night providing a caring and reassuring presence on the streets.
Haven is a joint church initiative supporting the homeless and vulnerable in the Whitstable area.
CTiW jointly support a local Christians Against Poverty (CAP) centre. CAP provides free debt counselling and additional life skills services.
Working in Romania to alleviate poverty, though partnership with churches.
OM’s Ship Ministry is sharing knowledge, help and hope in and around the world's port cities.
We hold our monthly Herne Bay Hub meetings at the school and also support them with projects like All Wrapped Up and Holiday Hunger.
Riverside is proud to support the following organisations…
Coastal Family Hub provides mental health support to children, young people and families in Whitstable, Herne Bay, and Reculver.
Inclusive Church is a network of churches, groups and individuals uniting around a vision of church which celebrates and affirms every person and does not discriminate.
Riverside supports the work of Mission Aviation MAS rS Fellowship which enables over Mission Aviation Fellowship 2,000 aid, development, and mission organisations to bring medical care, emergency relief, long-term development, and Christian hope to thousands of communities.
Riverside supports the work of Open Doors which is an international ministry serving persecuted Christians and churches worldwide.
ae FARSKATE.CO.UK
Riverside Youth Hub partners with FAR Skate which empowers young people who struggle with their social emotional and mental health. It provides practical learning in a safe, holistic, and nurturing environment.
Strategic Report Business Review
Riverside Church is in a stable position both financially and in terms of attendance.
Our total source of income from all sources was £485,298.
Our expenditure totalled £646,500.
Our room hiring and cafe income generated income of £224,997.
Our financial statements at the rear of this report provide more information.
Risk Management
We have systems of internal control which are designed to provide reasonable, but not absolute assurance against material misstatement or loss. They include: -
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an annual budget approved by the Trustees.
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regular consideration by the Trustees of financial reports.
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delegation of authority and segregation of duties.
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identification and management of risks.
We aim to review the main risks the church faces on a regular basis. The Trustees consider the key risks to a church like ours to be finances, safeguarding, health and safety and human resources. We employ staff with key skills in these areas. We also engage third party experts for advice when needed.
We believe that our internal financial controls conform to the guidelines issued by the Charity Commission.
Investment Powers and Policy
Our Articles authorise us to invest our funds. Cash balances are currently held across four banks. We operate a policy of keeping available funds within interest-bearing deposit accounts. We maintain a level of free reserves to mitigate against the risk that the charity experiences an unexpected event which would put us in financial difficulty.
This might include an event which would bring Riverside Church into disrepute; the premises being forced to close for an extended period of time; or a serious decline in the economic environment we operate in.
Plans for the future
We believe the appropriate level of unrestricted reserves should be based upon a proportion of our regular costs as follows:
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Four months of our long-term commitments, such as mortgage and utilities payments and the cost of running our Sunday services which would be a vital activity to maintain.
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Three months of medium-term commitments such as permanent staff costs and the monthly financial support we provide to partner charities.
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One month of short-term costs, including the day-to-day ministry activity of the church.
Our review has estimated this target level is £120,000. The reserves held as of 31 December 2024 are at this level. We review, on a 6-monthly basis, the level of reserves held.
During the year, the Trustees conducted a full review of the reserves policy to ensure it remained up to date and relevant.
2024 was a year of expansion for Riverside building on the foundation of becoming an affirming church in 2022.
We feel this new foundation has greatly increased our positive reputation in the community, with many people seeking out the church because of our inclusivity and affirming status.
We are also maturing as a caring expression of God’s love into our coastland communities.
The core values within the church, such as trust and authenticity continue to grow. This is creating a safe environment for people to deepen relationships and explore faith, whilst wresting with life’s questions.
Our Vision Sunday this year focused on ‘looking forward with expectation’ and we want to continue to build on our excellent foundations and our growing reputation in the community.
We ended 2024 with a sense of thankfulness, looking forward to all that God was going to do through the church in 2025.
Information about Riverside Church
We believe that we comply with the Charity Commission guidance on public benefit and specifically the advancement of religion.
Charity Number: 1131872
Company Number: 6983393
Associated Professionals
Principal Bankers:
HSBC Bank 9 Rose Lane Canterbury Kent CT1 2JP
Registered Office:
Riverside Church Thanet Way Whitstable CT5 3JQ
Website: www.riversideuk.org
Accountants:
Kreston Reeves LLP Chartered Accountants 37 St. Margaret’s Street Canterbury Kent CT1 2TU
Governing Document & Organisational Structure:
Independent Examiners:
We are a registered charity, constituted by means of our Memorandum and Articles of Association and operating as a church. We are also a company limited by guarantee, in which the company directors form the board of Trustees. The liability of each trustee in the event of winding up is limited to £10. The spiritual vision and direction of the church is set by the Senior Leadership Team who along with the Trustees form the membership of the company. The pay of the Senior Leadership Team staff is reviewed annually and benchmarked against pay levels in other churches of comparable size and operation.
Samantha M Rouse FCCA DChA Chartered Accountants 37 St. Margaret’s Street Canterbury Kent CT1 2TU
Solicitors:
Parry Law Sols 12-14 Oxford Street Whitstable CT5 1DE
Information (continued)
Trustees and Senior Staff
Trust Board (TB)
The Trustees who have served during the year are as follows: -
Kirsteen Magee Chair Simon Bateson Lead Pastor Darlene Bushell Finance Sean Carter Health & Safety Rebecca Swansbury Safeguarding (started 29.01.24)
The company secretary is Kim Wood.
Appointment of Trustees & SLT
New Trustees and SLT members are appointed when appropriate. Suitable candidates are generally selected from within the church and are considered based on their skills, experience, and sympathy with the aims of the church. Trustees and SLT members are appointed by the combined Trustees and Senior Leadership Team. These two teams constitute the membership of the charitable company. New Trustees have the opportunity of reviewing appropriate documents, including the management accounts, as part of their induction process.
Senior Leadership Team (SLT)
The day to day running of the church is delegated to the employed pastoral staff and operational staff. The staff are led by Simon & Keely Bateson (Lead Pastors) and their Senior Leadership Team which is as follows: -
Simon Bateson Lead Pastor Keely Bateson Lead Pastor Martin Franks Assistant Pastor Jacob Perrins Assistant Pastor Debbie Franks SLT Emma Perrins SLT Alan Chalkley SLT (Stepped down 15.06.24) Alison Chalkley SLT (Stepped down 15.06.24) Christine Gibson SLT Jackie Carter SLT Sean Carter SLT & TB
Information
(continued)
Trustees’ / Directors’
Responsibilities Statement
The Trustees (who are also directors of Riverside Church for the purposes of company law) are responsible for preparing the Trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:
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Select suitable accounting policies and then apply them consistently;
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Observe the methods and principles in the Charities SORP;
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Make judgments and accounting estimates that are reasonable and prudent;
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State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In preparing this report, the Trustees have taken advantage of the small companies’ exemptions provided by section 415A of the Companies Act 2006.
This report was approved by the Trustees on …………………………. and signed on 22.07.25 their behalf by
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Simon Bateson Trustee / Director
RIVERSIDE CHURCH
(A company limited by guarantee)
Independent examiner's report
For the year ended 31 December 2024
Independent examiner's report to the Trustees of Riverside Church ('the Charitable company')
I report to the charity Trustees on my examination of the accounts of the Charitable company for the year ended 31 December 2024.
Responsibilities and basis of report
As the Trustees of the Charitable company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charitable company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the Charitable company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Charitable company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
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RIVERSIDE CHURCH
(A company limited by guarantee)
Independent examiner's report (continued) For the year ended 31 December 2024
This report is made solely to the Charitable company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charitable company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charitable company and the Charitable company's Trustees as a body, for my work or for this report.
Signed: S M Rouse Dated: 22 July 2025
S M Rouse FCCA DChA
Kreston Reeves LLP Chartered Accountants Canterbury
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RIVERSIDE CHURCH
(A company limited by guarantee)
Statement of financial activities (incorporating income and expenditure account) For the year ended 31 December 2024
| Note Income from: Donations and legacies: 4 Weekly offering Donations eligible for Gift Aid Gift Aid Gifts & miscellaneous income . Other donations and legacies Other trading activities 5 Investments 6 Total income Expenditure on: Raising funds 7 Charitable activities: . Other charitable activities Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2024 £ 25,937 148,754 35,575 13,768 9,115 164,288 67,480 464,917 53,940 575,841 629,781 (164,864) 1,231,265 (164,864) 1,066,401 |
Restricted funds 2024 £ - - - 13,126 7,255 - - 20,381 - 16,719 16,719 3,662 2,505 3,662 6,167 |
Total funds 2024 £ 25,937 148,754 35,575 26,894 16,370 164,288 67,480 485,298 53,940 592,560 646,500 (161,202) 1,233,770 (161,202) 1,072,568 |
Total funds 2023 £ 33,811 148,459 40,148 10,607 17,423 132,117 64,726 |
|---|---|---|---|---|
| 447,291 44,922 500,809 |
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| 545,731 (98,440) 1,332,210 (98,440) |
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| 1,233,770 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 19 to 34 form part of these financial statements.
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RIVERSIDE CHURCH
(A company limited by guarantee) Registered number: 06983393
Balance sheet As at 31 December 2024
| 2024 | 2024 | 2023 | ||||
|---|---|---|---|---|---|---|
| Note | £ | £ | ||||
| Fixed assets | ||||||
| Tangible assets | 12 | 1,256,544 | 1,289,969 | |||
| 1,256,544 | 1,289,969 | |||||
| Current assets | ||||||
| Debtors | 13 | 9,478 | 11,235 | |||
| Cash at bank and in hand | 268,901 | 392,275 | ||||
| 278,379 | 403,510 | |||||
| Creditors: amounts falling due within one | ||||||
| year | 14 | (39,492) | (26,544) | |||
| Net current assets | 238,887 | 376,966 | ||||
| Total assets less current liabilities | 1,495,431 | 1,666,935 | ||||
| Creditors: amounts falling due after more | ||||||
| than one year | 15 | (422,863) | (433,165) | |||
| Net assets excluding pension asset | 1,072,568 | 1,233,770 | ||||
| Total net assets | 1,072,568 | 1,233,770 | ||||
| Charity funds | ||||||
| Restricted funds | 16 | 6,167 | 2,505 | |||
| Unrestricted funds | 16 | 1,066,401 | 1,231,265 | |||
| Total funds | 1,072,568 | 1,233,770 |
The Charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
Simon Bateson Trustee Date: 22.07.25
The notes on pages 19 to 34 form part of these financial statements.
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RIVERSIDE CHURCH
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 December 2024
1. General information
Riverside Church is a charitable company limited by guarantee, incorporated in England and Wales with the company number 6983393 and the charity number 1131872.
The Charitable company's registered office is Riverside Church, Thanet Way, Whitstable, CT5 3JQ.
The financial statements have been prepared for the year ended 31 December 2024.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Riverside Church meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The financial statements are presented in pounds sterling are rounded to the nearest pound.
2.2 Company status
The charitable company is a company limited by guarantee. The members of the company are the Trustees and senior leadership team named in the Charity's information page. In event of the charitable company being wound up, the liability in respect of the guarantee is limited to £10 per member of the charitable company.
2.3 Going concern
The Trustees have considered the Charitable Company's level of reserves and future incoming resources and concluded that these are sufficient to enable the charity to continue its operations for the foreseeable future. Therefore the accounts have been prepared on a going concern basis.
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RIVERSIDE CHURCH
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 December 2024
2. Accounting policies (continued)
2.4 Income
All income is recognised once the Charitable company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charitable company has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charitable company, can be reliably measured.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
2.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Expenditure on raising funds includes all expenditure incurred by the Charitable company to raise funds for its charitable purposes and includes costs of all fundraising activities events and noncharitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charitable company's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
2.6 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charitable company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
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RIVERSIDE CHURCH
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 December 2024
2. Accounting policies (continued)
2.7 Taxation
The Charitable company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charitable company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
2.8 Tangible fixed assets and depreciation
A review of impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of any fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of Financial Activities incorporating the income and expenditure account.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .
Depreciation is provided on the following bases:
| Freehold property | - Land - not depreciated, Buildings - over 20 |
|---|---|
| years | |
| Fixtures and fittings | - 5 years straight line |
| Computer equipment | - 3 years straight line |
| Other fixed assets | - Not depreciated |
2.9 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.10 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Page 21
RIVERSIDE CHURCH
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 December 2024
2. Accounting policies (continued)
2.11 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charitable company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
2.12 Financial instruments
The Charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.13 Finance costs
Borrowing costs associated with direct expenditure on properties undergoing major refurbishment are capitalised.
Interest is capitalised as from the commencement of the development work until the practical date of completion.
2.14 Pensions
The Charitable company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charitable company to the fund in respect of the year.
2.15 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charitable company and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charitable company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 22
RIVERSIDE CHURCH
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 December 2024
3. Critical accounting estimates and areas of judgment
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Tangible fixed assets
The charity has recognised tangible fixed assets with a carrying value of £1,256,544 at the reporting date (see note 12). The assets are stated at their cost less provision for depreciation and impairment. The charity's accounting policy sets out the approach to calculating depreciation for immaterial assets acquired. For material assets such as land and buildings, the company determines at acquisition reliable estimates for the useful life of the asset, its residual value and decommissioning costs. These estimates are based upon such factors as the expected use of the acquired asset and market conditions. At subsequent reporting date the Trustees consider whether there are any factors such as technological advancements or changes in market conditions that indicate a need to reconsider the estimates used.
Where there are indicators that the carrying value of tangible assets may be impaired the charity undertakes tests to determine the recoverable amount of assets. These tests require estimates of the fair value of assets less cost to sell and of their value in use. Wherever possible, the estimate of the fair value of assets is based upon observable market prices less incremental cost for disposing of the asset. The value in use calculation is based upon a discounted cash flow model, based upon the charity's forecasts for the foreseeable future which do not include any restructuring activities that the charity is not yet committed to or significant future investments that will enhance the asset's performance. The recoverable amount is most sensitive to the discount rate used for the discounted cash flow model as well as expected future cash flows and the growth rate used for extrapolation purposes.
Page 23
RIVERSIDE CHURCH
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 December 2024
4. Income from donations and legacies
| Donations Weekly Offering Donations eligible for Gift Aid Gift Aid Gifts & miscellaneous income Subtotal detailed disclosure Donations Grants Subtotal Total 2023 |
Unrestricted funds 2024 £ 25,937 148,754 35,575 13,768 224,034 2,039 7,076 9,115 233,149 220,828 |
Restricted funds 2024 £ - - - 13,126 13,126 7,255 - 7,255 20,381 29,620 |
Total funds 2024 £ 25,937 148,754 35,575 26,894 237,160 9,294 7,076 16,370 253,530 250,448 |
Total funds 2023 £ 33,811 148,459 40,148 10,607 |
|---|---|---|---|---|
| 233,025 | ||||
| 11,423 6,000 |
||||
| 17,423 | ||||
| 250,448 | ||||
5. Income from other trading activities
Income from non charitable trading activities
| Cafe income and other trading income Total 2023 |
Unrestricted funds 2024 £ 164,288 132,117 |
Total funds 2024 £ 164,288 132,117 |
Total funds 2023 £ 132,117 |
|---|---|---|---|
Page 24
RIVERSIDE CHURCH
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 December 2024
6. Investment income
| Use of building Investment income Total 2023 |
Unrestricted funds 2024 £ 60,709 6,771 67,480 64,726 |
Total funds 2024 £ 60,709 6,771 67,480 64,726 |
Total funds 2023 £ 58,468 6,258 |
|---|---|---|---|
| 64,726 | |||
7. Expenditure on raising funds
Fundraising trading expenses
| Cafe expenses Total 2023 |
Unrestricted funds 2024 £ 53,940 44,922 |
Total funds 2024 £ 53,940 44,922 |
Total funds 2023 £ 44,922 |
|---|---|---|---|
8. Analysis of grants
| Mission support Total 2023 |
Grants to Institutions 2024 £ 19,819 23,057 |
Grants to Individuals 2024 £ 989 4,354 |
Total funds 2024 £ 20,808 27,411 |
Total funds 2023 £ 27,411 |
|---|---|---|---|---|
Page 25
RIVERSIDE CHURCH
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 December 2024
9. Analysis of expenditure by activities
| Charitable activities Total 2023 |
Activities undertaken directly 2024 £ 421,782 365,882 |
Grant funding of activities 2024 £ 20,808 27,411 |
Support costs 2024 £ 149,970 107,516 |
Total funds 2024 £ 592,560 500,809 |
Total funds 2023 £ 500,809 |
|---|---|---|---|---|---|
Analysis of direct costs
| Staff costs Church Ministries Equipment & maintenance Insurance (church) Utilities (church) Other staff costs |
Total funds 2024 £ 319,677 38,965 19,769 5,061 32,269 6,041 421,782 |
Total funds 2023 £ 276,004 34,155 16,295 4,918 29,006 5,504 |
|---|---|---|
| 365,882 |
Analysis of support costs
| Depreciation Photocopying/Storage/Postage Professional fees Catering Music/Copyright fees/Equipment Miscellaneous costs Independent examiner's fee Interest |
Total funds 2024 £ 77,671 1,067 8,297 1,117 1,227 21,928 2,385 36,278 149,970 |
Total funds 2023 £ 71,474 803 7,824 938 1,552 (7,762) 2,615 30,072 |
|---|---|---|
| 107,516 |
Page 26
RIVERSIDE CHURCH
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 December 2024
10. Staff costs
| Wages and salaries Social security costs Contribution to defined contribution pension schemes |
2024 £ 293,391 16,356 9,930 319,677 |
2023 £ 254,216 12,764 9,024 |
|---|---|---|
| 276,004 |
The average number of persons employed by the Charitable company during the year was as follows:
| 2024 | 2023 | |
|---|---|---|
| Employees | 18 | 15 |
No employee received remuneration amounting to more than £60,000 in either year.
The total compensation paid in respect of the key management personnel amounts to £111,441 (2023: £106,929).
11. Trustees' remuneration and expenses
Simon Bateson received remuneration in his capacity of Lead Pastor and not as a Trustee. This remuneration amounted to £57,636 (2023: £54,832).
During the year, no Trustees received any remuneration or other benefits (2023- £NIL).
During the year ended 31 December 2024, no Trustees expenses have been incurred (2023 - £NIL).
Page 27
RIVERSIDE CHURCH
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 December 2024
12. Tangible fixed assets
| Cost or valuation At 1 January 2024 Additions Transfers between classes At 31 December 2024 Depreciation At 1 January 2024 Charge for the year At 31 December 2024 Net book value At 31 December 2024 At 31 December 2023 |
Freehold property £ 1,631,455 - 121,749 1,753,204 441,100 70,160 511,260 1,241,944 1,190,355 |
Fixtures and fittings £ 105,540 6,064 - 111,604 90,872 6,132 97,004 14,600 14,668 |
Computer equipment £ 147,452 - - 147,452 146,073 1,379 147,452 - 1,379 |
Other fixed assets £ 83,567 38,182 (121,749) - - - - - 83,567 |
Total £ 1,968,014 44,246 - |
|---|---|---|---|---|---|
| 2,012,260 | |||||
| 678,045 77,671 |
|||||
| 755,716 | |||||
| 1,256,544 | |||||
| 1,289,969 |
Freehold land of £350,000 in relation to the Riverside Campus has not been depreciated as its residual value is likely to exceed its valuation and therefore its economic useful life is likely to be infinite.
13. Debtors
| Due within one year Trade debtors Other debtors Tax recoverable |
2024 £ 5,906 45 3,527 9,478 |
2023 £ 8,527 - 2,708 |
|---|---|---|
| 11,235 |
Page 28
RIVERSIDE CHURCH
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 December 2024
14. Creditors: Amounts falling due within one year
| Bank loans Trade creditors Other taxation and social security Accruals and deferred income |
2024 £ 10,422 6,419 19,230 3,421 39,492 |
2023 £ 9,599 3,452 9,093 4,400 |
|---|---|---|
| 26,544 |
15. Creditors: Amounts falling due after more than one year
| Bank loans Included within the above are amounts falling due as follows: Between one and two years Bank loans Between two and five years Bank loans Over five years Bank loans |
2024 £ 422,863 2024 £ 11,315 40,102 371,446 |
2023 £ 433,165 |
|---|---|---|
| 2023 £ 10,422 |
||
| 36,936 | ||
| 385,807 |
The aggregate amount of liabilities payable or repayable wholly or in part more than five years after the reporting date is:
| Payable or repayable by instalments | 2024 £ 371,446 371,446 |
2023 £ 385,807 |
|---|---|---|
| 385,807 |
The amounts in bank loans relate to a re-mortgage from HSBC UK Bank PLC, and were previously used to purchase the site for the new church building. There is a guarantee in favour of HSBC UK Bank PLC over the property at Riverside Works in relation to this loan.
Page 29
RIVERSIDE CHURCH
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 December 2024
16. Statement of funds
Statement of funds - current year
| Unrestricted funds Designated funds General fixed reserve Designated fixed asset fund Compassion Projects fund General funds General Funds Total Unrestricted funds Restricted funds Defibrillator grant Christmas Project Total of funds |
Balance at 1 January 2024 £ 120,000 847,205 - 967,205 264,060 1,231,265 31 2,474 2,505 1,233,770 |
Income £ - - 4,482 4,482 460,435 464,917 - 20,381 20,381 485,298 |
Expenditure £ - - (9,091) (9,091) (620,690) (629,781) - (16,719) (16,719) (646,500) |
Transfers in/out £ - (23,946) 10,054 (13,892) 13,892 - - - - - |
Balance at 31 December 2024 £ 120,000 823,259 5,445 |
|---|---|---|---|---|---|
| 948,704 | |||||
| 117,697 1,066,401 |
|||||
| 31 6,136 |
|||||
| 6,167 | |||||
| 1,072,568 |
Page 30
RIVERSIDE CHURCH
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 December 2024
16. Statement of funds (continued)
Transfers between funds
Designated fixed asset fund - the transfer of £23,946 to unrestricted general funds represents the decision by the Trustees to show separate the funds allocated to fixed assets less any associated liabilities.
Compassion projects fund- the transfer of £10,054 received from unrestricted general funds is to reflect a decision by the Trustees to designate pantry, growbaby and welfare donations in to one Compassion fund.
Purposes of designated funds
General Fixed Reserve - this represents funds set aside in accordance with the Charity's reserves policy.
Designated fixed asset fund - this represents the book value of the fixed assets less any associated liabilities and are deemed by the Trustees not to be freely available funds.
Compassion projects fund- this represents gifts received towards pantry, growbaby and welfare projects.
Purposes of restricted funds
Defibrillator grant - this represents amounts donated to the church in relation to the purchase of a defibrillator.
Christmas project fund- this represents amounts donated to the church in relation to the Christmas projects.
Purposes of restricted funds (prior year)
Building Development fund (previously Phase 3 fund) - this represents amounts donated to the church in relation to the development of the Riverside Church site including the area known as Phase 3.
Herne Bay Hub Project - this represents amounts donated to the church in relation to the Herne Bay Hub Project.
Page 31
RIVERSIDE CHURCH
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 December 2024
16. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds Designated funds General fixed reserve Designated fixed asset fund General funds General Funds Total Unrestricted funds Restricted funds Building Development Fund Herne Bay Hub Project Defibrillator grant Christmas Project Total of funds |
Balance at 1 April 2022 £ 100,000 589,966 689,966 638,443 1,328,409 - 771 31 2,999 3,801 1,332,210 |
Income £ - - - 417,671 417,671 9,500 - - 20,120 29,620 447,291 |
Expenditure £ - - - (494,243) (494,243) (30,072) (771) - (20,645) (51,488) (545,731) |
Transfers in/out £ 20,000 257,239 277,239 (297,811) (20,572) 20,572 - - - 20,572 - |
Balance at 31 December 2023 £ 120,000 847,205 |
|---|---|---|---|---|---|
| 967,205 | |||||
| 264,060 1,231,265 |
|||||
| - - 31 2,474 |
|||||
| 2,505 | |||||
| 1,233,770 |
Page 32
RIVERSIDE CHURCH
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 December 2024
17. Summary of funds
Summary of funds - current year
| Designated funds General funds Restricted funds |
Balance at 1 January 2024 £ 967,205 264,060 2,505 1,233,770 |
Income £ 4,482 460,435 20,381 485,298 |
Expenditure £ (9,091) (620,690) (16,719) (646,500) |
Transfers in/out £ (13,892) 13,892 - - |
Balance at 31 December 2024 £ 948,704 117,697 6,167 |
|---|---|---|---|---|---|
| 1,072,568 |
Summary of funds - prior year
| Designated funds General funds Restricted funds |
Balance at 1 April 2022 £ 689,966 638,443 3,801 1,332,210 |
Income £ - 417,671 29,620 447,291 |
Expenditure £ - (494,243) (51,488) (545,731) |
Transfers in/out £ 277,239 (297,811) 20,572 - |
Balance at 31 December 2023 £ 967,205 264,060 2,505 |
|---|---|---|---|---|---|
| 1,233,770 |
18. Analysis of net assets between funds
Analysis of net assets between funds - current period
| Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year Total |
Unrestricted funds 2024 £ 1,256,544 272,212 (39,492) (422,863) 1,066,401 |
Restricted funds 2024 £ - 6,167 - - 6,167 |
Total funds 2024 £ 1,256,544 278,379 (39,492) (422,863) |
|---|---|---|---|
| 1,072,568 |
Page 33
RIVERSIDE CHURCH
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 December 2024
18. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior period
| Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year Total |
Unrestricted funds 2023 £ 1,289,969 401,005 (26,544) (433,165) 1,231,265 |
Restricted funds 2023 £ - 2,505 - - 2,505 |
Total funds 2023 £ 1,289,969 403,510 (26,544) (433,165) |
|---|---|---|---|
| 1,233,770 |
19. Pension commitments
The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £9,930 (2023 - £9,024). At the balance sheet date, no contributions were due (2023: £NIL) and were included in creditors in the previous year.
20. Related party transactions
During the year, 4 (2023: 5) Charity Trustees have made donations to the Charity totalling £24,657 (2023: £29,950).
L Bushell, the daughter of D Bushell, a Trustee of the Charity was employed during the year. The total compensation she received was £25,786 (2023: £22,931) commensurate to this role.
Page 34