REGISTERED CHARITY NUMBER; 1132754 REPORT OF THE TRUSTE&S AND FINANCIAL STATEMENTS FOR THE YEAR ENDEI D 31 DECEMBER 2024 FOR TRIJST PROPERTY ADMINtSTEIiED BY THE MERSEY SYTrIOD OF UNITED REFORMED LHURCH P B Syddall & Co Chaitered Accoiintants & Strtulory Auditors Grafton House 81 Cliorley Old Road Bolton Lanc&8hire BLI 3AJ
TRUST PROPERTY ADMINISTERED BY THE MERSEY SYNOD OF UNITtI D REFORME, D CHiTrJ CH COIYT£NTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Page Re(eren¢e Aiid Admilllstr%tive Detalls Report of the Trustees Statemei)t of Trustees, Re8pon8lbllltie% io Repovt of tlie Independent Audltors I I to 13 Stateniellt of Flnaiicial Activities 14 to 15 Stwtement of FinanciAI Posltloii 16 Stalenient of Cash FIUAVS 17 Notes to tlie Statejnent of Cash Flows 18 Not to the Fillanclal Statements 19 to 28 Detalled Statement of Financiil Activitics 29 10 30
TRUST PROPERTY ADMINISTERED BY THE RSEY SYNOD OF UNITED REFORMED CHURCH REfEI RF,IYCE AND ADMIJUSTRATIVE DETAILS Tr'OR THE YEAR ENDED 31 DECEMllb;R 2024 TRUSTEKS D Gartside (resigned 30.6.25) K Wright {resi8ned 24.7.24) N Mackcn7ie Ms J A Cash (ttsigned 24.7.24) C J Mangham B Taylor S Elliot (appointed 12.2.25) H Klein (appoinfrd 12.2.25) M Morris (Appointed 28.8.25) PIUNCIPAL ADDRESS l Fingall Road Wavetsre Liverpool Mer8eyside L15 9JE REI GISTERED CHARITY NUMBER 1132754 INDEPENDENT AUDITORS P B Syddall & Co Chaitered Accounl8nts & Slatuloiy Auditors Grafton Floiise 81 Clioi'ley Old Road Bolton Lancasliire BLI 3AJ BANKERS Barclays Baiik 48- 50 Loi'd Streei Liveiyool L2 ITD Page I
TRUST PROPEI RTY ADMINISTERED BY TH MKRSE¢ Y SYNOD OF UNrrKD REFORMED CHURCH REPORT OF THE TRLSTEES FOR THE YE* AR Eh'DbD 31 DECEMBER 2024 Tlie tiuslces pi'esent tlieir i'eport witli Ilie financial stalcinents of tlie charity for tl)e year ended 31 December 2024. Tlie 'LlStees have adopted Ilie provisions of Accounting and Repoiting by c111t1es'. Stateinei)t of Recoinniended Pi?clice applicable to cliatities preparing tlieir accounts in accordaiice with tlie Financial Reporting Standard applicable iii Ilie UK Aiid Republic of Irelaiid (FRS 102) (effectivc l Januaiy 2019). The Syiiod was eslabli¥bed 8s p.1 of the fornjalion of the Utiitd Reforn)ed Cliurcli by tlie United Refwnied Acts of 1972 and 1981 Ilnd is tILe rcptLsenlative of tlle local cliutrhes wiihin Mersey Synod for tl)e puiy)se of dcaliiig with iii&tlers of wider colleen). Tlitougli its work the Synod is able lo provide pasioral. financial, educatiODal and technical support lo the local congJ'egations, tlieir ministers, Elders and lay people in tl)eir life and mission. The crileiia used lo help and support local churc1] is a con)niittn¢nt to l(K)king for new oppoitunities for being ¢liurch li) Ilie Mersey l'egion, a comiiiitinenl lo caring p&8lornlly for its local chuithes, mini8tei¥ Imd staff, a coiiiniilinent lo 11)e pl.op. c'e and athiiii)istration of ils resowres. a Conli11ncnl to addressing issues of justice aiid peace and a ¢omrnitnient to reviewing, on a irgular basis, its life and mission. OBJEI cfivES AND ACTIVITIES Objectlves aiid pollcies In coniiT)on with tlie otlier I'cgional Synods of tlie Unil¢d Refomied Churcli. the Mersey Syiiod is pi-iinai'ily concerned witli Ilie niaii1tenice and Inissioii of Ilie local churches falling within its provinci81 area. Tlie $yiiod is a registered cliaiity nuiiiber 1132754 and supports die WO of 73 cl?urclK8 and 2,237 IiieinbuE wiiliin tl)e e1Y it8ion. Its objectiv¢ is to advaiice Ilie Chtisli8n religion in 8ccoithn¢e widi the docttine aiid principles of the United Refoiiiied Cliui'¢li. Tliis includes intei. alia, ili¢ acquisition of new chuirli piwities aiid disposal of itduiidant piDperties, (lie calling and training of ordained niini8lers and of lay leaders and developing ecunietii¢al relationships with odier Chrisliall ehurclies. Tlie Mersey Synod also acts as an agent to organise tlle collection of Ioc81 cliurcli asKMentS wliich ale paid to tlie Genei'al Assembly Otlices of tlie United Refonned Churcli ii) tlie United Kingdom iii London, Cliui'clies Aild Manse propei'ties Tlie cliarity is asgocialed willi Ui)ited Refomled Cliurch (Mersey Provincc) Trust Liiiiited (Tlie). an incoiyorated c11'1ty tl]at 18 IEsponsiblc fur managing propcty of which it has charge over, eiwiing Iliat it is used foi. tlie advanceiiient of tlic Chi-islian religion. Tlie Ti'ust is tnistee of the preniises and manso8 of the local churclies in Ilie Synod and the proceeds of sale tl)ei'eof. The Trtist doe5 not own die pi'opertics beneficially and tlierefore tbey do not foini part of its coiyoi?te propeity. Pi'occeds from the sale of any properties are ultimately tbose of the rqx)rting charity, as are the purchase costs ot aiiy pIDperty acqusitioiis. Tlie irlatioiiship between t1 Synod and the Trnst in ttlalion lo cliurch properties and manses is delailed in Ilie secoiid schedule to the URC Act1972 &s amended by the URC Act 1981 and 2000.. Public beiiefjt T]ie Iliislees have referred lo the genw'al guidance issued by thc Cl)arity Coi]lliiission on public beiiefit wlien considei'ii the deliveiy of actiVlti¢s in fiutherance of the aims and objecliv&s. Page 2
TRUST PROPERTY JU)MINISTERED BY THE MERSEY SYNOD OF UNITED RKFORMED CHLIiCH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEI INIBER 21J24 OB.IEI CrivS AND ACTIVITIE+ S Social investiiients A social investtneiit is one made in pait to further the ch'Itable purp(Kses of the investing chaiity and in pait to generate a financi&l return. Tlie value of social investinents as at 31 Decembei. 2024 was £NIL (2023 £NtL). Gi'&iitiiixl<lng policy xild pi'ocedures Gi'ant api)lications al'e illvited fiY)m URC churches and other atSLialed URC bodies within the catcknnent of th¢ eY Syiiod, Applications foi- assistance willi projccts lo iipgrade property ali assessed for valuc and feasibility by the Synod Pi'oi)ety Maiiagei. and the Synod Resourceg Coi))Iiiittce who i'eceive advice ftY)in oil)ei' expei'ls sucli as sui'veyoi's and airliitccts, Tlie Synod Pastoi'al Suppijrt Coinmittec reviews applications to ensure t11 gi'ants meet tlie objectives aiid i)iissioii of the URC. Specialist applications, including initiatives to siipport Mission, are nonnally VIewed by tllg Synod Mission & Disciplesl)ip Coiiitniltee. Tlie Synod Pastornl Suppoi'l Con)mitiee andlor Synod Missioii & Dis¢Aple8liip Coiiimittees i'ecoinii)eiid eilller acccptance oi, i'¢j¢¢lion of 'ant applications to tlie Synod Resouire5 Coniii)Lttec. Page 3
TRUST PROPERTY ADMINISTERED BY THE MKRSEY SYNOD OF UNITED REFORMED CHURCH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 ACHIEI VEMEI NTS AND PERFORMANCE Clipritllble Actlvities Tlie Synod recoixled a deficit fiyjni its Clritable activities of£572.329 ITA tl)e year ended 31 Deceinber 2024. Tiiere was an incirase in geiieral operaliiig income of £208,950. Th'e was an inci'ease tn the book value of Investillets at the year end of £446,768 and overall a nel it)crease in Ilie total fiwds of £186,515. Propei'ty Mission aDd Weifre Dw'iiig the yeai. the Synod piDvided grants foi. maintenance and ill)piDvements lo manses of £102,549 (£2023: £81,739) and foi. inipi'ovements aThd development of cliurches £143.581 (2023.. £11,422). Grnnls for Mission, F.cuii)enical Acllvity. OutsEacl). Evangelisni and Wel['C totalled £135,851 (2023.. £81,230). Pensioiis And InteJ'.Synod Resoui'ee Shai'lng In 20?A no contt-ibiitions were Inadc to the Ministos Pension rtd or tIK IDler-Synod Resouitcs Sharing Pool. Pi'opei'ty In 2024 one ll)anse purcliased and one manse willi a nel value of £418,391 was sold. Net i'eiital iiicoilie from propety temporarily not in use for pu4xJses getterated £50,538 iii tlie ye8r (2023.. £67,956), The deiiosit lowonls tlie sale of one ehurdi with a value ot £3,900 was also receiveAI. Expenditwe of £20,888 (2023., £9,642) w18 incurred on Ilie continuiiig prograiiiye of surveys of all the piopety in the Synod eVY seven y¢ai's to provide gLiidancc to tlie Synod and cliiii'clies on th¢ action iwuii'ed to i'eniedy any concerns tl)at al'e Iiigliligliled about Ilie fabric of tli¢ buildings. £6,150 was conli'ibuled by tlie local Chui'clies lowai'ds Iliis Scheme. Ti'alnlng Ti'aining ¢osls and gi'ants in 2024 were £60,528 (2023: £64,736). Tlaining foi. IninisteiE aftd lay staff coi)tii)ued to be held, Tlus includcd two Mii)isl¢i3 Away Days aiid oiie Residential Spi'ii)g Scl)ool in collaboratioii witli Noi'tlieni and Noilliwestcn) Syiiods. We pi'ovided Aclivc Lislening aiined at Pastoi'al Visiting Tea11 and Elders, opeii access sessions for Men¢81 Healili Fil Aid botl) online )d a day iii-pei'son and Inli'odiiclioii to GlY Play. The year culmiiiated willi Walk Throiigl) Tile Bible. Tliat are in'entlY Ihtte Students in Iraining as A8sei)Ibly Aecreditcd Lay Preacheis and one sttidying to beconic a noii-stipendi4ry Minister of Wol'd and Sacrain¢iil. Clilldi'en's Youtli Activity Expenditure on Cliildi'en's And Youth Aelivity in 2024 was £57,588 (2023: £54,883). Olir Cl)ildi'eii's and Yoiith Dcvelopinent Officer (CYDO) has contlliued to seiid oiit a weekly mailing lo all childitn and youtb conlucts in tlie cliurelies witl) I'esoui'ce idea8, training oprnItieS aiid other news. He is ciityently woi'king with two cliurclics who would like io einplay a paid cl)ildrcn's or youd) woiei', lielping theni think tlll'ough a visioii for the work. One of these will now be advertising before East.. As pait of tl)e Five Nortlierly Synods, we liave run online training to support parcnts share their faith witli Ilieii. cliildr¢n. We Imve also supplcmented this with olber one off ts7ining sc&sions on a vaiiety of topics. The CYDO has continiied to deliver the 2 Day Youlli Menthl Heallli First Aid course botli in person and online &id we are nJi)nin£ Ihe Youtliscape Esseiitiais cowse whickL is a 10-week course foi. youth workers covering a wide Vlety of topics.. A Sn1[ lip of 16_24 year olds from aciDss the Synod been establisli &id tliey have niet a few tim£s to get to know each oiha. and reflecl on how tliey can woi'k logether across tl)e Synod. Page 4
TRuKf PROPERTY ADMINISTERED BY THE ERSEY SYNOD OF UNITED REFORME,D CHLRCH REPORT OF THE TRUSTEEI S FOR THE YEAR ENDED 31 DF.ClI NIBER 2024 ML$slon, Outre&ch cuniellical Aetlvlty In 2024 Ilie Syllod piDvided Mission Grai)ts of £104.561 {2023: £50,978), including coiitinuing suppoi'¢ of Bircliwood Special Category Misgion, lo churches in the Synod to allow them to continue to pEue initiatives wilh youib alld faniilies. The aiiii of tliis progran]mc is to help chuiclies to launcli initiatives which it is li0d will becoiiic self-siislainable long-term. Suppoi't for outrea and Evangelism tolalled £13,533 (2023.. £12,073). MissioIial Dlsoipleship Enabler {MDE) Once again, we lield our Leading Youi. Chui'ch into Gi'ovAh (LYCiG) eonfei'ence wlii¢h took place at The Hayes at Swanwick willi 70 delegates and a lioine-grown leadersliip teani. 10 deleEal¢S fi'oi)) MeiBey Syiiod attended Ilie coiifeitnce. Feedback from the 3 days was iJ)spiriiig with those attending coiiJneiiling oil liow mucli il Iwd helped them and given them pi'actical ideas to help them start the p]M)cess of tuming tlieir iliouglits from decline to growtli. Tlie MDE worked with cliurches in Soiiih LiveryN)ol and on the Isle of Man delivering LYCIG Local, whicli lielps enibed soiiie of that wliich has been leat)ied inlo the widei. life of the churcll. Already for this coiiung year 8110ther iwo diw'ches liave expressed an interest to einbark upon tllis. This is a great oppoittmity for the MDE lo work closcly witli our local cliiurlies and encoiu?ge t]iem as they seek to live out Ilie call lo be Cl)rislian8 in tliat place. Tiiose cliurclics Ihat liavc completed il so far have said how tlicir Inenibers have grown in Confidence and found diffei'¢nl ways lo shal'e tlieii. faith. Tlie Syiiod Ilieine of Talking Faitli lias now ended, aild oui. new tlienie Living Faidi is just al)out to be laun¢lied, In June of 2025 tlie MDE is h¢lping lo plan and deliver an event based around Iliis. As part of tlic Living Failli tSieii)e die MDE will coiilinue to explo partt)eiEhips with oiliei. oi'gaiiisalioiis to Iielp cliui'clics considei. disciple81iip. We hope lo build ui)on a r¢laliot)ship willi LICC aiid witl) We are Making Disciples froiii wlioni the keynote speaker foi. oui event in June is coniing. The MDE COlilii)ues lo woi'k with several churches 01) a oiie-to-one basis ACI'OSS die Synod, This woi'k is also fantastic as chiiirlies rise to tlie cl)allertge of wod(ing out liow to iinpact Ilicir coininiinities widi tlle Gospel niessage, Bireliwood SpeelAI Categoiy iiiinlstry Tlie Special Categoiy Miiiistei. (SCM) Ilas contiiiued lo engage local people in Ili¢ Ial Costa Coffee, and at Toinii)y's Tols ('fiiomas Rislcy Cliurch) and tl)ioiigl) various oth¢i' aGtiviti&s now oiitlineAI'. Muddy Church . AN ecumenical outdoor eXpSSion of church which has taken ploc¢ in the local piiiiiaiy schools at Haivest, Cliristinas and E&stei'. - Messy Cliurch . 'n)e SCM Iielped to lead a Sunmier Church morning at Thontss Risley Churcli. Woi'k with local primary scliools ljas conlinued as has supporting Ilie Yoiitli Foi. Clii'ist workei. aiid also taking oil tlie role of goveinor at the High Sch¢x)l. There has ixen opp0tttIty to wo1 closely with the local pi'imary schools by providing l)ot eliocolate on bonfire niglit and being invited to lead RS lessons, attend tlieiL' events and fairs. As parl of Bii'cliwood Cliui'cbes Together, Ilie Bircliwood Minisler lias led Mcn's Breakfasts. Iiad a stall at Biirbwood c.1vaL and led Carol singittg at tlie sliopping Centtt and blisin park cafe. Tlieit have also been oppoitunilies to l)elp pIDvide Clwlsttiias liainpers and toys throug]) the local scl)ools lo vulnerable fainilies. Tlie SCM liad a Noii Siipeiidiary Minister INSM) ordinaiid oil placeinent loi. die academic year. Mucli OF the work is relational and it lakes time to biiild these relationsliip8. - The SCM 118s a150 suppoi¢d the Synod aiid wida. URC in attendillg nKetUi85 focu&sing on mission and pioiieering, He has coii)pleted an MA at Cliff ColleEC in Pioneei'ing and Fsli ExpiEssiot]s and graduated in Noveinber. Tlie SCM h&s pitaclied al local URCS and at Bircliwood Coirnnunity Churcli. The SCM has gi1[arlY met with liis line nnager and steciing Up. Tlie SCM was oil Sabbatical for February, Marcli and April. Page 5
TRUST PROP1 RTY ADMINISTERED BY THE MKRSEY SYNOD OF UMTED REFORMED CHURCH REPORT OF THE TRLfsTF,F.S FOR THE YII AR ENDED.11 DECEMBER 2024 Pastoral Suppoi't Cornmittee Tlie woA( of Ilie Pastoial Siipport Conjniiltee (PSC) 18 to piDvide supwirt for all tbe ehuirlies aJ]d niinisters withTn the Syiiod. Expenditure on tl)e pi'ovision of pasloi'al support including tbe TLansitional Minister and Safegudl'ding was £36,823 itl 2024 {2023 - £16.966). The ordained Pastoral Officer for Liverpool and as tlie comn)ittec's convenor, continued to be active oil tlie Synod's Pastoi'al Suppoit CoiTunittee IhL'oughout 2024. Specific activities involved in this role have been.. Meeliiig willi die Warriiigton chui'ches - the first was in Jai)uary following the reconfiguration of Ilic paslorate alld the qecoijd was in Deceinbei. wliicl) was to see liow tlie pastoile was doing a yeai. later. As ConVetr she atteiid Synod Executive aiid PliCIpale wliere able. Duriiig the year 11)e tei'nts of reference foi. synod cominillee8, incliiding PSC, wei'e updated. Slie pailicipated iti the review of a Noii Stipendiary Minister INSM), attending the meeting willi tlie Iiiinister and aDoiliei' Pastoi'al Officer. She was unable to allend the nieetin8 willi th¢ church duc to ill l)ealtli. In Jimc PSC held a liiiicl) foi. cuent and r¢c¢ntly retired Inleriii) Moderators and l attended botli as eonveiior of the coininittee and &8 an itei'im Modciatoi., This tiiiie of f¢llowsliip appircialed by those who attended. As ¢oiivenor slie pai'licipalcd iii ii?eetings of the Large Project Panel (LPP) looking at pi'ojects at Sl David's, Seaconibe aiid Lynllli. Slie allended 5 1))eetings in total bul was also involved in discussioi)s around Ilie LPP process. Atteiidiiig a meeliIig with Ilie Elderb fiDn) Wilmslow, Maeclesfield aiid Bollinglon and Lyniin URCS lo disciiss th¢ possibilities of a futu i)a8torate. Sli¢ began 2024 as Inlerin) i)iodei7lor At Hiiyton lt relired fmm that role eai'ly in tlie year. Tlii'ouglioiil 2024 .slie provided piilpil supply on10 Sundays iii a lolal of 8 congregaiions. Pg8lui'#l Offlcei. fui. the Livei'pool Arenlsyllod dli'ected Mlni%lJ'y IPOISDM) As pai'l of tliis rolc and lier dcployinent lo tlie Syn(xl 25 /0 of l)ci' tiine is dedicated lo being the paslot21 officei. foi. tli¢ Liveiyool Ai'ea and 25 % of lier liine is dedicated lo Synod directed i)iii)i8liy. Tlie aciivilies Ilial Ive beeii undei'laken for each of Ilicse ileS is detailed below. Iii liei. role as Knterim Moderator al Highfield URC and Higliei. Bebbingloii Road URC until the iiiduclioii of new iiiinislei., Rev'd Rulli Wilson, al tl)c end of January. Slie led ilie Induclioii seivicc iii ¢liat IY)le 011 2811) Jaiiuaiy at I-lighfield URC. Much of tlie work in January w&8 wol'king with Ihe ModerntOL, Ruth and the coiigi'egatiOLI on the induction service and agi'eeing tlle teiins of settIemenl. Most of lier time in 2024 was focused on being Inteiim Moderator lo both cOnrgationS on the Isle of Man, This lias iiivolved.. Suppoi'liiig Ilie congi'egalioii in Iheir appllealion for an Ecunienical Post wliicli was submilled on tlie 20tl) DeInber and has been a'eed by Chui'ch House. Meeting with leaders of oilier denoniinalions to gather suppoit for the alM)ve post including attending Cbiirclies Alive in Mann iTAeeting in Noveniber. Leading worsliip on tliiee weekend, twice in Douglas and once at R3nis¢y. - Helping tlie congllEgation in Dou81&s with Ilieir TT teas. SAfeguai'ding (SO) S#feguardiiig foi. tlie Syjiod Tlie Syiiod has a pai't time Synod Safeguarding Olcer, Julie Rafferty, who is a dedic&ted resoui'ce Jt for Meisey Synod woiing l 8.5hi3 per week. Julie works closely witll ministws, church safc8u&rding coordinatoiB, cknurch elders and otlier key meinbers of Ilie synod to ensure that 5afeguai.ding procedures are imbedded in diurch life, witb a view lo iit]proviiig the safeguardit)g culture ov.all. Page 6
TRUST PROPERTY ADMtNISTERED BY THE MERSEY SYNOD OF UNJTED REFORMED CHURCH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Safeguai'ding Traliilng In accoi'daiice willi the URC Trnining fi?ii)ewoik, tlic focus 1)as been lo ensiwe tl]at people in cliurches can access die l-ight level of n]ld&tO1Y training effectively: - Foundatioi) trainiiiE is available &s an e-Leaming package via tiie URC training hub. Inleiii)ediate tt'aining is delivered face-to-face in d)Iii'chcs Advaiiced safeguarding traiiiing is delivered online to a nuii)ber of people in leadership. Face t() facc Intermediate tt?ining (31irs), is cunrntly being deliveird in each area of Ilie Synod. Modul¢s l aiid 2 foi. Advanced Safeguarding tr4illiog (21vs eacli modiile) is being Jointly delivei'cd witli 11)e Noi'th Western Synod Safeguarding Officer, tliese Kssions are delivered via Microsoft Teanis alld will lake place in Api'il aiid May 2025. Cliuirli s8(egL1y1ing Cooi'dinatoi. tt'aining is accessed via the URC ts'atniiig hiib as an et£arning package aiid helps to iinprov¢ awai'encss ond skills foi. this k6y cliurch rolc. od Piyc ice6 Good Pi'aclice 6 - Safeguarding foi. Everyone is Ilie safeguaiyling poli¢y aiid guidance for the URC. Mersey Syiiod have I'evised tlieir safegliarding policy wl)ich is now publislicd on tlie Meisey Synod websile togctl)ei' widi otlier safeguavdii)g i'esources foi. syiiod and cliurcl)es. SofeguAI'ding Referetlce Cj'oup Tliis gi'oiip is a sub-coininittce of the MeiEey Synod Execiitive Cominittee And will rcpLlrt to tlie Synod Executive at least once a yetir and to Ilie bi-aiiiiual Synod Ineetings. Tile purpose of Il)e group is lo.. focu5 on safeguai'ding woi'k witli cliildren and adults by supporting tl)e Syiiod Safeguai'diiig olee1., pionioiing ?ining PiDgi?ninies and iiionitoi'iiig Ilie needs of local cliurches. lo acl as a coi)fidenlial I'eference body for Il)c delivery of safeguai'diiig aLIDSS tlic Syn(Ml. - niaintaiii &n overview of safeguarding conipliance for the Synod. Otliei. Iiey $Afcgu41'dlllg Aetlvltles Iii addition to Mersey Syn¢)d i'cspoiisibilitiu, Julie lias been w01ng witli Cl)uYcli Housc and olhei. Synod s&ff, Slie l)as beeii involved tn tlie Ti'aining Review group, Ihe Safeguai'ding Coiiiniittee and allei)ds sevei'al Synod Safeguarding Pi'acti¢c GroLiP mcetings on an anniial ba8Rs, most of wliicli hfivc been on zooin, aldlougli soine are face to fgc¢ either in London or oilier locations, rilNANCIAL REVIEW liiv*xtJnei)t perform&nce Tl)¢ Synod's xi)vestsiieiit portfolio is ii)ainlained under the guidance of Ratiiboiies (fonnerly Investec Managnent) and funds wei'e also invuted in CCLA Ethical Investment Fund. A good ts'ading year oil the stockn1.ke1 resultcd in gains on oui. poitfolio of £247,510 in Ihe year. TIK Synods roI10 was valued at £6,949,902 at the end of 2024, (2023.. £6,839,134). Tlie SyniKI had additionally opened an easy access Account witl) Epwoiths, the curi'eiit balance on Iljis account i £336,000. The ciimiilative unrealised gain at tlie cnd of 2024 was £1 10.768 (2023.. £296,311). Intei'est and dividend income gcneraled fiY)m Synod's investmellts, bank balances and loans amoliiited to £244,075 2024 (2023: £218,732). Page 7
TRU PROPERTY ADIWNISTERED BY THE MEI RSEY SYNOD OF UNrrED REFORMED CHURCH REPORT OF THE TRUSTEES FOR THE Y£AR ENDED 31 DF.CTr;MBEI R 2024 FINANCIAL REVILI W Illvestnient poliey and objeetlves The Synod itivesttiienls ar¢ staled at a fair value 8t the balance sheet date. Inveslnient Objectiv lo ii)aintaiii adcqLlk)le liquidity lo muintain the secui'ity of Ibe inveslmcnts to miiiiniise capital loss to inainlain a Iiiixed portfolio wliilsl providing a bala¢ belween income and growdi to adhci'e lo any inveslineiil i'ests'iclioA)s as defu)ed fi'om time to time by the Geiiei'al Asseiiibly of the United Refottiied Chureli inclLiding Invting in companies involved in weapons. pomography, alcoliol production, die provision of g1]bling facilities, and fossil fuels. Tlie Synod itivcstnient portfolio is nianaged by Rathbones, fonnerly Inveslec, fiDin wlion) advice is sou8hi wlieii necessary, tog¢tlier willi regiilar meetings and updates. In addition fiinds al'e also invcstcd in tli¢ Ethical Flind n)anaged by CCLA. Tlie pei'fonnance of tile llivestments and tlie ii)vesbnenl n)anagers is monitored by refeirncc to appiopi'iate benclllnHI'k i'eturns. Uni'e8ti'lctLd fund The uillrsli'icled fuiids available lo die Synod witl) no i'esh'ictioiis oil how Iliey cali be applied ale used suppoit tlie cliai'ilable aclivilies of the Syi)od at tl)e discirtioi) of Ilie tm&kes wlio set a budgel foi- expeilditure eacli yeai. lu conti'ol i'oulllie expenditUL'e, and con8idei3 and agi'ees wly exceptional expenditure at Iheii. regul. Ineetiiigs, DeslRnRted Aiid Re511'lcted funds Designated and i'csli'iLied income fiiiids are those wljose use is attributable lo specific pilipos according lo Ihe lei)Iis on Mihich the funds were given Tlie funds are ', nated Cliui-cli Extension aiid Developinent Fund Pei)sion Suppoi'l Fund Mission Grdnts Flind Redundancy Resei've Fund Weltai'e Furtd Resti-icled Alternative Ministries Fund Manse Sclieine Fiind STRUCTURE, GOVERNANCE AND MANACEMENT Govei'ning docunieiit Tlie cliai'ity 1.% coiili'olled by 118 governing docun)cni, a deed of trnst and constitut&% an unincorpoted dL'lty. Constitution, ttbjectives and policies TIK Unilcd Refomied Chuirli was constituted by the United Refonned Cliuitli Act 1972. Oi'gaiiisational structure Tl)e Mersey Syiiod of tlle United Refom]ed Churcli is one of Severnl regional and national Syn(Kls wliid) ¢onsliMle tlie United Refoi'med Churcli. The chai'ity Ilustees air the rneberS of the Synod Resources Cominittee who have ove1?11 rcsponsibility for Ilie deployineiil of fiiiancial aThd other material resourc&s to Ineei tlie objeclives of tl)e Synod, Tlie CLlI'rent meinbers of tl)e Resoiiires Committee listed below as tlie tmstees of thc cliayity. Pagc 8
TRUST PROPEI RTY ADIUNISTERED BY THE IVIERSEY SYNOD OF UNITED REFORMED CHURCH REPORT OF THE TRUSTEES OR THE YEAR ENDED 31 DEcEMBR 2024 STRUCTURE, GOVERNANCE AfqD MANAGnMENT Related pxitles i the opijjion of the (njsteeg, individual United Refomied Churches and Ministrias a not considered to be related p'tieS os the cliarity's relationship wilh tliem is one of adminislixtion and giving advice i'athei. Ilian exei'cising illlluence. Ris1< mattilgement Tlie management of the ftnancial and operational risks ol the Mew Synod is delegated to the men}b3 of tbe Resouires Coinmittee who act as thc Syn(Ml's tnislees. Tlie hustees have a duty to idcntify and vieW tlie iisks lo whieh U]e charity is exposed and to enswE appTopiillts conts'ols in place to pi'ovide reasonable a&swaiice against fraud and eii'or. A 11 update of Ilje Risk Register is catried out gUlarlY. The coinmittee reviews its policies and pnjcedw'es re8ularly an(L following the adoption of a new policy to Safeguaid against money laundering) it 15 satisfied that sufficient me&sure8 in place to mitigate the signifi¢8nt 115k8 to which Ibe Synod could bc ¢xposed. MINISTERS PENSION FUND In 2021 the Synod agired lo niake a contribution of £1,050,000 to the United Reforllled Church's MinisteiE' Pension Scheme, along with the otlier United Refonned Chillrh Synods in anticipation of an estimated deficit of soine £23,000,000 at the next actu.1a1 valuation. In 2022 £730,000 was paid on account of tliis coinmitment with a fuither £320,000 to be paid over tlie next eiglit years. During the cunlnt year it was delenniijed sufficient contributio1 I bexn nde to ¢ovei tlie deficil tlierefore the provision lias beei reversed. Approved by oard of (rstee5 on 17 September 2025 and signed ots its behalf by,. M Moi'iis- Trustee Page 9
TRUST PROPERTY ADMIMSTERED BY TH MERSEY SYNOD OF UNITED REFORMED CHURCH STATEI MENf OF TRUSTEES, RFSPONSIBILITIES FOR THE AR EP4DED 31 DECEMllb:R 2024 The tru&lces atE Irsponsible for preparing the Report of the Tnwttts and die financial statcments in accordance witli applicable law and United Kingdom Accounting StsThlards (United Kingdoiil Genei'auy Accepted Accounting P¥aclice). Tlie law applic&ble to cliwitiu in England and Wales, the Cllarities Ael 2011, Cliarity (Accoiiilts and Rq)orts) RelIatiO1 2008 and tlic ViSIo1 of the tsijst deed requu'cs Ihe twsle¢s to Plfpfu'e fiiiaiicial s'tateineiits foi. eacli f11¢la1 yeay whicli give a Ii'ue and fair view of tlie slaie of affaiib of ilie cl)arity aiid of Ilic incoining i'esoui'ces ai)d application of i.esourc, includlng the illCOii)e and exndIture, of Ilie Ch]ty for Iliat peikod. 111 pirparing those fiiiancial slateinenls, Ilie trustees are requtiEd lo select suitable accounting policies and then apply tli¢in consistently, observe tlie i))etlii)ds and principles in t]ie Cliarity SORP. iiiak¢ jiidgeiiients And estiniales Ilial irasonable and pellE stale wlicihei. applicable 4ecouiiling standards have been followed, subject to aiiy material deparlures disclosed and expllliiied in Ilie fill1ClaI statements. prepair Ihe financial stalernenls on the going concem basis wiles8 it is inappn)piiale to piysuiiie Ilydt tlie cliai'ily will coiilinue in business. Tlie trustees are iEsponsible for keeping proper accounting reiS which diselosc widi Irasonable accurncy at aiiy tiiiie tlie financial position of tl)e cliarity and to enablc them lo cnsuir that Ilie financiol &tst¢menls coniply with the Cl)arities Acl 2011, tlie aiai'ity (Ac¢ounls and Report.8) Regulations 2008 aiid Ilie provisions of the In1 deed. Tl)ey al'e al80 i'espoiisible foi. s(ifeguardiiig tlie assets of tlie ch&ily aiid liellc¢ for tskÉng irasoiLible steps foi- tEie preveiiiioii }d deleclioii of fraud and otliei. irregiilarilies. Page 10
REPORT OF THE tNDEPKNDENf AUDITORS TO THE TRUSTEfs OF TRUST PROPERTY IIDMINISTERED BY THE MERSEY SYNOD OF UNrrED REFORMED CHURCH Opinio We have audited die fCIal Statents of Tnt Property AdmInt.Cd by tbe Me1Y Synod of United Refoiiiied Cliui'cli (tlie 'cbaiity') for tlic year ended 31 Deceniber 2024 wliich coinprise the Stateinent of Financial Activit1&8, tlie Staleiiienl of Finai)cial Position, Ilie Slalemenl of Casli Flows and notes to tlie financial slatenients, iiicluding a SULwnaiy of ssgniticant accounting policies, The fu]ancial i'epoiting fi7mcwoi'k that lias been applied in Ilieii. pirpai'ation is applicable law and Uiiited Kiiigdom Accouiiling Standaith Iullited Kiiigdoiii Generdlly Accepted Accouiitkng Practice). In OUT OPl21iOI) the financial stateinenls: give a te fair view of tlic stale of the chwity's a(fairs as at 31 DeCeb. 2024 and of irs incomiiig i'&%'oui'ces aod application of resouwes, for Ilie yeai. tl)en ende(L' have been piopei'ly prepai'ed in accoiylance with Untled Kingdoni Gei)ei7lly Accepted Accounting Piactice. and llave been piipared in accordance witii Ihe i'cquirements of the Chaiities Act 2011. Basls for opiiilon We eoi)ducted our audit ii) accoi'dance with Tnlemalional Standards on Auditing (UK) {ISAs (tJK)) and applicable law, Our J'espongibilities iindci- tliose standards Vére fiirtl)er desci'ibed in th¢ AuditotE' I'esponsibililies foi. Il)e aiidit of tl)e financial slalenients section of our report. We are 1Thdependt of Ilie C1)7ty in accordaiice witli tli¢ etliic&l r4uiieineiiL8 tliat are I'clevaiit to our audit of tlie fLllallcial stateniciits in ihe UK, Èncluding Ili¢ FRC'S Etl)ical Sidtidord, aiid wc Ivdve fuifillcd our oihei. eiliical i'csponsibilities in acconlance witl) these requircinents. We belicvc il)al t]ie audit cvideiice we liave obtained is sulyicienl aiid ¢ipproprial¢ lo pi'ovide a basis for oui. opinioii. Coiiclusloiis i'elatliig lo gniiig coi)cern In aiidilii)g Ilie financial slaieiiien15, WL Iiave conclud¢d that Ilie tnle¢s, use of the going coiiceni basis of accouiitiiig iii tlie pi'eplu'alion of Ilie fii)aticial slalenients is appiDpriate. Ba8ed oil tlie work we Ive pei'foniied, we liave not identified any inRtei'ial uncertaiiilies relating to eveiits or condilioi)s Iliat, individiially oi. collectivcly, may cast significant doubt on tlie cliarity's 8bilily to continiie as a going conceim foi. a pei'iod of at least twelve Iiioiiilis froiii wlien the finAJ)eial slalen)eiits are auiliorised foi. issue. Oui. responsibilities and tlie i.e8pon8ibilities of tlie tswstees with respect to going concei'n are described iii tlie relevaiit sections of Iliis I'eport. Otlici, liitoi'niRIioii Tlie tiuslecs al'e responsible for Ilie otlier infonnotion. The odier inforniatiort eoinprises Llie inforination included in Il)e Annual Repoi'l, otliei. Iliwi tlie fu]ancial siateinenls and our Report of tl)e Ijidependeiit Audil01s dieieoii. Oui. opinioii oli tlie financial slalenlents does not cover Ilie otl)a' inforiiialion and, except to tbe extent otherwise explicitly slated in our t'cpoi'l, we do not express any form of &ssuran¢e conclusion IlieAEOn. In coniiedion willi our audit of the fiiMnciJl 8tRtemcnt4 our SponSIbl11ty is to read tlie oiha. infoiination And, in doing 80, coiisider wlietlier tlie otlier iiiforiiialion is inaterially inconsistent witli tlie finaiicial slaleinents or our l(nowledge obtained in Ilie audit oi. othLnYise appeal% to be iijaterially iiiisslaled. If we ld1¢1fy sucli iiialcrial incon5i5teiicies or apparent nialei'ial Inissiatcinenls, we ait requii'ed to delennine wlieihci. this gives rise to a iiialerial iiiisstateinenl in Ilie financial st&temenls thentselves. If, based oil the work we have perfoi'ine(L we conclude Ibat thei'e is a niaterial niisslatenient of ¢liis othei. infoiynatiory we are required to port that fact. We IvE notliing lo report in Il)is iEgard. Matters on wlileli we are required to t'eport by exception We l)ave iioihiiig to report in respect of the following n)atters where tlie Charities (Accounts and Ileports) Regulatioiis 2008 itqiiires lis to i'¢p(Iit lo yoii if, in oiir opinion: tlie iiiformation given in the Repoit of tl)e TrSteeS 15 illconsistent in any material respect with tlie financial slatemcnts- or sufficieiit accouiiling itcoi'dg Ive not been kept. or the financial slalen)eiils are not uj agtTement witii the accounting records and retun. or we havc not reccived all tlie infonnation 8nd expldnations we require for oui. audit. Pagell
REPORT OF THE 1Tr4DEPENDENT AUDITORS TO THE TRUSTEES OF TRUST PROPERTY ADMtNISTERED BY THE MERSEV SYNOD OF UNITED REFORMEI D CHURCH Rcsponsiliilttles of tiwstees As explained n]ore flilly in tlie Statement of Trnstces, Responsibilities, tIie tW5tees 'e Lrsponsiblc for tlie prepai'ation of tlie financial statenients whicli give a true and fair view, and for sucli iiilenial coiitrol As tlie li'uslees detei'inine is necessary to enable thc pi'eparatioTh of financial slalenients Ilial fi'ee fi-onl inalerial niisslatcment, wheihei. due to fipud oi ei'i'or. lil preparing Ihe financial slalements, Intee8 are sponsIble for assessing ihc Cl1][y,S ability lo continue as & going concetti, disclosing. as applicable, nialtei's rel8led lo going conca'n and usitig the gollig conceiii bRSiS of aCCountig Liiiless tlie Mislee8 eitlici. intend lo liquidate tlie cl)arity or to cease opsratioi)s, or have no iralislic alleriialive bul lo do Our i'espoiislbllities foi. the audit of the financlAI statements We liave been appoinled us auditors under Section 144 of die Cl)arities Ac(2011 and repoi't in accordance witli tlie Act and relevati¢ regulations ii)ade oi. IvIng effect Iliereullder. Oui. objectives are lo obtain rellsonable a&qurance about wliedier tlie financial slalenients as a whole are free fyoin malekial inisslatenieiil, wbeiher due lo fixud or en'or, and to issuc a Report of the Indepei)du)t Auditoi's tliat iiicludcs our opinion. Reasoiiable &ssurance is a l)igl) level of assurancG but Is not a guarantee t]iat ali audit coiiducted iii accoi-dance willl ISAS (UIC) will always delect a nialetial miss1aleiint wl)¢ii il exists. Misstaleiiienls cali ai'ise fi'oiii fraud oi. ei'i'or and air considei'ed niatei'ial if, iiidividiially or in die aggregate, I1Y could reasonably be expected LO influeiice 11)e ecoi)oiiuc decisions of usei's taken ort the basis of these financial slateiiients. Tlie exlertt to wliicli oui. pi'ocedures are cap&ble of detecting irregularities, iiicluditlg fraud is detailed below: Jri'egiilai'ilies, iiicliidiiig fi'aud, al'e instsnees of Iion-¢oiiipliance will) law8 and rcgula(ioiis. We design i)rocedure5 in line willi oui. IEsponsibililies, outlined above, lo delecl mateiial misslaleiiients iii respect of ii'irgulai'ilies, ii)cludiiig fi'aud. Tlie exlei)l io wliicli oui. pi'ocedLircs are capable of dcle¢ling irregu18ritics incliiding fraiid is de18iled below. Based on oiii. Linderslandillg of Ilie Ll)arity we ideiitified tllal (he priiicipal I'isks of non-conipliance will) laws and i'egulations relate to ineon'ecl irveiiiie recogiiilion aiid we consideird the exlciil (o wliid) non-coiiiplionce ii)ight1i4ve a Inalei'ial effect on the financial ststcnienls. We also considcrcd Iliose laws aild iEgul81ions that have a direct impact on thc fmRncial slateinei)Is siicli as the Charities Act 2011. We evalualcd nianageiiient incentiv&s aiKI opportuiiities foi. fraudulent Illdnipulation of tlie finai)cial slateineiils, includiiig the risk of overriding controls, and delemiined that Ilie pi'incipal i'isks weLE related to posting iiiappiDpi'ia* joiiinal enlri&s lo i'educe cxpendittitE and Inanageiiienl bi&s in accouiiling eslimatcs aiid Judge1nlIa1 ai'¢as of the financfial slalements such tlie valuation of iL%Lll'ance liabilities. Audit procedures p¢rfom)ed included: discussions witii man&geiJient involiited in the iisk and compliance fuiictions including considci'alion of known oi. susi)ecled instances ofiioii-coiiipliance will) law.4 2nd regulalion alld fraud; i'eview of Iruslee Ininutes and n)aiiageineiil nieetuig n)iRutes pei'forining aiidil work in iElation to tl)e risk of managne11t override includkng le5ting of joui'itsl entries and otlier adjusthients for appi'opriateness and i'evÉewin8 accounting sysfenis for bias. Tliere are in11.e7)I liniitations in tl)e audit procedures described above. We less likely lo beeoLne awai'e of instances ot. non-complianee witli laws and iE8ulations that are not closely related to evenls and ts"Mnsaction5 I'efiecled in tile fillancilll slatenients. Also. tlie risk of iiol delecling a nip4tei.ial niisstateinent due lo fiaud is lii8liu' tlian the iisk of not dclecliiig one resiiliing froni error as fraud may involve delibci'at¢ concealinent by, foi. exainple, foi'gejy oi. iiiteiitioil misrcpi'esenlations or Ihrougli collusion. A fuid)ei' desci'iption of ow- respoi)sibilitieg for tlie audit of tbc financial slatements 18 lOted on the FinaiiciAI RekY)I'ling Council's website at Www.fi'c.OlE.uklaudilorsrespoibl111le& Tliis d¢scriptioTh foi'ms part of oui. Report of the Jndependent AudilotE. Page 12
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF TRUST PROPERTY ADMINISTERED BY THE MERSEY SVNOD OF UNITED REFORMED CHURCH Use of our report This report ig made solely to the charity's trustees, as a l)ody. in a¢Gordan¢e with Part 4 of the Charlttes (AG¢ounls and Repor15) Regulations 2008. Our audit work has been undertaken so that we might state lo the Charity's ts'ust¢es those m8tters we are required to state to them in an auditors, report and for no oihcr puoS¢. To the fullest ¢xtent p¢iThitted by law, we do nol ac¢ept or assume responsibility to anyone other than the cliarity and the charitys ¢ru8te¢s as & body, for 0111. 8 dil work, for tljis report. or for th¢ opioioNg we havc fomed. P B Syddall & Co Chartered Aecounlants & Stalulory Auditors Grafton House 81 Choi'l¢y Old Road Bolton Laft¢ashire BLI 3AJ 14 Octobei. 2025 Pag¢ 13
TRUST PROPERTY ADMINisfERLD BY THE MERSEY SYNOD OF UMTED REFORMED CHURCH STATEMENT OF FINilNCtAL ACTIvrrIES FOR THE YEI AR ENDED 31 DECEI MBER 2024 2024 Total funds 2023 Total nds Unrestticted funds Reshicted funds INCOME AND Ef4DOWMENTS fiROM Doiwtioiis aiid legacies 251,936 251,936 208 Chaj'itable activities P1ceedS fi'oni clu'Liirli disiiosal Pmeeeds frotii nianse disposal Grants 3,900 3,900 418,391 12,407 138,977 699,820 12,830 418J91 12,407 liiveslmenl inconie Otliei. iilcollle 244,075 58,310 244,07S SB,310 218,732 161,911 Total 570,628 418,391 989,019 1,232,478 EXPENDITURI ON R%lsliig I'iiiids Otlier Ii'adiiig activities Investsnent Inanagenient costs I,IS8 41,829 1,158 41,829 1,305 36,555 42,987 42,987 37,860 Chai'ltable actlvltl Traiiining cosl,s & grants Building suiveys OLilreacli Eciiinenical activity Welfare gi'ants Pastoi'lll support Cliildi'en & youdi development Manse purchases Mission grants CIIULCI) iinprovcineiil & developinent Maiise niainlcnaiice & improveiiient Govei'nance costs 60,528 20,888 13,S33 16,463 1,294 36,823 S788 60,528 20,888 13,533 16,463 1,294 36,823 57,588 490,OOn 104,561 143,S81 102,549 (40,781) 64,736 9,C)42 12,073 1 (),625 1,554 16,966 54,883 490,000 104,561 143,581 50,978 11,422 81,739 236,496 102,S49 3S,071 (75,852) Total 422,394 627,620 1,050,014 594,974 Net gains on inveshnenls 247,510 247,510 309,921 Nfl T INCOMEI(EXPENDITURE) 39S,744 (209,229) 186,515 947,425 RoNcILIATIoN OF FUNDS Total tiinds bi'ouglit foiwayd 3,831,082 2.608,603 6,439,685 5,492,260 TOTAL FUNDS CARRIED FORWARD 4,226,826 2J99J74 6,620,200 6,439,685 The notes forni part of these financial statements Page 14
TRUST PROPERTY ADMINISTERED BY THE MERSEY SYNOD of4 UNrrED REFORMED CHURCH STATEMENT OF FtNANCIAL AcrivrriES FOR THE YEAR ENDED JI DECEMBER 2024 CONfiNUING OPII RATIONS All inconie and expenditLire lias arisen continuing activitLes. Gov¢mance costs iiicludes the i'cvei3al of a provision for conbibutions to bc made to the deficit of the ininisleis pension fuiid. Fiirlliei. details can be fouiid in Note 9 to Ilie accounls. Thc not&% fonu parl of these fjnancial statements Page 15
TRUST PROPERTY ADMINISTERED BY THE L1 RSEY SYNOD OF UNITED REFORMED CHURCH STATEMEI NT OF FtNATrICIAL POSITIOIY 31 DECEMBER 2024 2024 Total unds 2023 Total funds UDrestrictcd futtds Reth"icted nds Notes FixfJ) ASSETS lllveslments 14 4,550,528 2J99J74 6,949902 6,839,134 CURR1 NT ASSETS Deblois Investmenls Cash at bank and in l)and 15 16 23,734 336,(K)O 161,671 23,734 336,000 161,671 33,042 430,659 521,405 511A05 463,701 CRJZDITORS Arnounls falling due witliin one year 17 (845,107) (845,107) (623,150) NE< T CURREI IYT ASSETS (323,702) (323,702) (159,449) TOTAL ASSETS LLSS CURREI NT LIABILITIES 4,226,826 2,399,374 6,626,200 6,679,685 CREDITORS Amounts falling due after more than one year L8 (240,000) IYET ASSETS 4,226,826 2,399,374 6,626,200 6,439,685 FUNDS Umtstt'icled ndS Resliicled ndS 19 4,226,826 2,399J74 3,831,082 2,608,603 TOTAL FUNDS 6,626,200 6,439,685 The financial W.e signed o ments were approved by the Board of TnL8tees and authorised for issue on 17 September 2025 and belialf by: Mmo - Tnlstee The notes fonn part of these financial statements Page 16
TRUST PROPERTY ADMINISTERED BY THK MERSl+ Y SYNOD OF UNITED REFORIWIED CHURCH STATF,MEP4T OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Notes C*$li flows from operatlng actlvities Cash geiieraled froin opelilions (313,80S) 586,263 Net C&8h (used in)4)i'ovided by operating activities {313,805) 586,263 C31) flows fi'om investiiig ActItIeS PuLcliase of fixed asset inve%liiiciils Sale of tangible fixcd awts Epwortl) investmeiit fund Iiivcstsnent poilcolio c&sli accounl Intei'esl LEceivcd {800,000) 152,512 (336,000) 136,742 244,075 L3,6lO 218,732 Net cash piovided by/(used in) inve81ing activities 44,817 (415,146) ClianEe In ca511 And cash equivalents in the repoi'llng pei'lod Cash casli equ1VentS At the beginnlnLi of the i'eporting peylod (268,988) 171,117 430,659 259,542 Casli and cAsli equlvalents at tlie end or tIIL repoi'tin% pei'iod 161,67] 430,659 The Tholes ffflin paLI of these fir1claI staternents Page 17
TRUST PROPERTY ADMINISTERED BY THE MERSfi Y SYNOD OF UNITED REFORMED CHURCH NOTES TO THE STATF,MENT OF CASU FLOWS FOR THL YLAK ENDED 31 DECEhlBER 2024 RECONCILIATJON OF NCI T INCOME TO P4ET CASH FLOW FROM OPERATIYG ACTIVITirs 2024 2023 Net income (oi, the reporting period (as per the Statèment of Financlal Actlvltles) Adjustmeiits foi.: Gain oi) investineiits Pi'ofit on disposal of fixed assets Interest receivcd Deci'e8wI{increase) in debtors (Decrease)lincrease in ci'editors 186,SJ5 947,425 (247,510) (309,921) (52,512) (218,732) (9,936) 229,939 (244,075) 9,308 (18,043) Net e4$h (used in}Ipi'ovided by operAtions {313.805) 586,263 ANALYSIS OF CHANGES IN NET FUIYDS Ai 1.1.24 Casli flow At31.12.24 Net casli Casli at bank and in l)and 430,659 (268,988) 161,671 430,659 {268,988) 161,671 Liquld resources Deposits included in casli Current asset ii)vestlTAeiits 336,000 336,000 336,OiK) 336,000 Total 43U,659 67,012 497,671 The notes fonn p* of these fanCial statements Page 18
TRUST PROPERTV ADMINISTERED BY THE Mtl RSEY SYNOD or UNITED REI foRMED CHURCH NOTES TO THE FINANCIAL sfATEMENrs FOR THEI YLAR ENDED 31 DECETrIBER 2024 ACCOUNTING POLICIES BASIS OF PREI PARtNG THE FINANCIAL STATEMENTS The fiiianeial staleiiients of tbe chwity. which is a public b]er11 ciitily undei. FRS 102, bave been prepai'ed in accoi'danee witli tlic Cliarilies SORP (FRS 102) 'Accounting and Repoiling by Cl)aiities.' Slalenieiit of Recoinjiiended Praclice applicable to chaj'ilies preparing their aceouALs in a¢coi'dance wiib the Fiiiwcial Reporting Slaiidaid api)licable in Il)e UK and Republic of Ireland (FRS 102) (effective l Jaiiuaiy 2019),, Finaiicial Reporlirtg Staiidard 102 The Financial Reporting Siaiidard applicable tl)e UK and Rei)ubli¢ of Ireland, and the Cl)arities Act 2011, The financial slatcn)enls l)ave beeii pi'epai'ed undei. tile Iiistoi'ical cost conveniion. witl) tlie exception of investnienls wliich are included at i)iarket valu¢. as inodified by Ilie revalualioii of cei'lain assets. The fiiiailcial stalenieAts are prq)ared on the goll)g con basis uiidei- the histoiical cost cotiventioii niodified to ii)cILide ccitain iteiiis al fail. value. T1 financial staleinents al'e pi'ephi'ed in Sierlii)g wl)icli is Il)e funclioi)Rl cui'ieiicy of the cliai'ity aiid rouiided to the neest £ Tlic siginificant accouiiling policies api)lied li) the piepai?tion of these finaiicial stateineiits are set out below. Tliesc policies liav¢ b¢etJ consisl¢nily appli¢d lo all ye813 prcsenled ithlcss oilieiivisc slated, CRITICAL ACCOUNTING JUDGEMENTS AND KEI Y SOLRCES of% FSTIMATION UNCERTAINTY Iii tlle apylicalion of the clthi'ity's accoui)ling policies Ilie lrnslces are i'equii'ed (o ii)ake judgeiiienls, eslii)ialcs aiid assuinptions abolit dic cairying amount of assels liabilities diat al'e iiut i'eAdily appareilt fiDin otliei. sow'ces. Tlie esliii)ales aiid associated asstunptions are based on liistoi'ical experience and oll)er factoiB diat ui'e conSid'¢d lo be relevant. Actual results Iiiay diffei. froni these esliiilates. In the opinion of the tsuslees IheiE .¢ no special disclosures itquired in respect of judgeiiients and estiiMatioii uncertainty. INCOME All incoiiie 18 IEcognAscd in the Sialeiiient of Financiil Aciivilies once the ch'Ity has entitleiiieiil to the fids, i¢ is pi'obable that the income will be ireeived and the A]nount cali b¢ tne&8uird reliably. LXPEIYDITURE Liabilities air recognised as expenditure as soon as tliere is a legal or constructive obligalioii comimitting the cliai-ity to tliat expenditure, it is probable that a ts7nsfer of economic benelits will be i'equii'ed in settlenient and Ilie aiiiount of Ilic obligalioi) cali be iiicasiired reliably. Expei)diWre is accouiiled for on ali acciual8 basis and lias beeii classified linder lieadings tliat aggr¢gale all cost related to tlie categoiy. Wliere costs C}0t be dii'ectly attributed to particular Iieadings they have been all<Kaled to activitie5 011 a basis consistent witli tlie use or resource8. Grants offered subject lo conditions which have not been met at the year end dale are noted as a cointiiilinent but not a¢¢nied as expenditure, ALLOCATION A TYD APPORTIONMENT OF COSTS Costs are nialclied against Ilie iiieonie geiiernted by tlie expenditure incuffed. Costs inCued oil pmviding dcsignated activities are allocated to tli¢ levant designated fund. All otlier expenditure on cliaritable acttvities and odtninistrative costs are allocated to tlie general fund. rixKD ASSETS AND INVESTMENTS Dcpreciation is provided at the following annual rates in order to off each asset over its estllnated lfIll life. Motor vehicles Con)puter equipnient 250/0 On Cost 25Q/o on cost Page 19 corLtinued...
TRUST PROPERTY ADMINISTERED BY THE MERSEY SYNOD OF UNITED REFORMED CHURCH NOT£t S TO THE FINANCIAL STATEMENTS- continued FOR TIIE YEAR ENDED 31 DICEMBLR 2024 ACCOUNTINC POLICIKS- conlinued FIXED ASSEI TS AND tNVLSTMENTS INVESTMENTS liivcstment al'e staled at fair value at tlie balance slieet dale aiid UrnT&sliesd gains 01 losses are recognised iii Ilie Statenienl of Financial Activities. The ¢liarity's investment manage1% provid¢ a valiiation i'q)oi'l as at tlie balance l)eel date showiiig the Inarkel value of each of Ille assefs in the portfolio. REI LATED PARTY TRANSAcrtONS Irt the opiiuoii of Ilie dii'eclors. iiidividiial Uiiited Refomied C.liurchcs and Trnsts iiot considered lo be lated pai'lics &s ilie Coiiipaiiy's i'elalionsliip witli Iliem is one of adininislratloll and &iiving advice IBiliei tlthii exeitising influence. As sucb, tsansactions with illdividual United R¢fonlled Cl)urehes and Tiwsts notindividually disclosed withiii tl)e5¢ accoltS exeepl lo the extent tliat grants aiE Iiiade 10 iIIosL Churclics. TAXATION The charity is exempt from tax on its charitable activities. FUND ACCOUNTING Uni'esli'iLled fiinds ¢XLi be iiscd in aCc'danCe witl) Ihe chaiitable objecliv&8 at d)e discreiion of Ili¢ li'ustees. Restricted fiinds can only be uscd for pailicular restricted purposes within tl7e objects of the charity. Rests'ictions arise wl)en specifLed by Ilie donor oi. wl)en fijnds Are raised for parlicular reslri¢led purposes, Furtlier explanatioii of Ili¢ i)abJre and purpose of eacli fund is included iii die notes lo Ilie financial 8lalcn)ents, PROTElON FROM MONEY LAUNDERIIYC AND RELATED FRAUD Befoye any doltIOn of more Ihaii £51KJ or any loan is accepted fi'oiii a new aiidlor U1]0wn souire oi. aiiy coinplexli'ecipiocal Inonelaiy ts?i)saction is uiidertakeii witli ui)y pa1¢1. orgaiiisalioii or iiidtvidual, all 5ucli gifts, loans oi. li'ansactioils iiiusl be refeiyed to Ilie R¢souircs Coiiiiiiitiee. The Resourc&% Coiilljiittee iiiust satisfy itself Ihal Ilie soui'ce aiidlor i)arinei' is Irpulable, Iliol Ilicic is no sugg&8tion of moiiey laund¢i'iiig aiid tlie the giftltransaction is legal before any such giftlttznsaclioii is accepted or ajiy otlier coinmitsnenl is ii)adc. GOLNG CONC£1 RN The Iruslees #ysess wlietlicr tlic use of going concern 13 appropriate, ie. wlieihei. Iliere al'e any rnaterial uncertainties related lo eveiils or conditions diat may cast Significant doubt on die ability of Ilie eliarity to continiie as a going concem. The ttiistc&s ni&ke this assessment in respect of a period of a¢1¢&8t one y¢ar froni the dAle of auiliorisation foi. issue of the financial slaleineilts and have concluded diat tile cliw'i¢y has &dequate i'esoui'ces to coiitiiiue in opei'alioiial existence foi. the foreseeable fi]ture atid tliar are no ii)aleiial uiicei'lainties about 11)e cliai'ity's ability to conliniie as a going conccm, thiis they contiiiue to adopi ilie going concein basis of accouiitinE 111 pi'epai'in8 Ilie fm&iicial slateiiients. Tliis consideration has taken into account the impact of tlie coinjiiilinenl to the Mit)istei's Pension sclie5ne as far as it can be (ktemlincd and die tntee8 remain satisfied tliat tlie going concern '1C1ple I'en)ain8 appIDpriale. Page 20 continued...
TRUST PROPERTV ADMINISTERED BY THE MERSEY SYNOD OF UNITED REFORMED CHLIiCH NOTES TO THE rtNANCIAL STATEI MENTS - eolldnued FOR I'HE YEAR EP4DED 31 DECEIBEl R 2024 DONATIONS AND LEGACIF 2024 2023 Gifts and donations 251,936 208 JNVEI gfMLNT INCOM 2024 2023 Dividends and iiiteresl irceived 244,075 218,732 INCOME FROM CHARITABLE AcrtVlTIES 2024 2023 Aclivity Proceeds fi'otn cl)uidi disposals Pi'oceeds fi'oin Ial]Se disi)osal Gi'ants Procecds from duill'cli disposal 3,90 138,977 Proceeds from inanse disposal Grants 418J91 12,407 699,820 12,830 434,69¥ 851,627 OTHER TRADING ACTIVITIES 2024 2023 PuKcli8ses 1,158 1,305 INVEI STMENT MANAGEMCI NT COSTS 2024 2023 Portfolio manageii)ent 41,829 36,555 P38c21 continued...
TRUST PROPERTY ADMINISTERED BY THE MERSEY SYNOD OF UNITED REFORMED CKURCH NOTEI S TO THE FINANCIAL STATEMENfs - eontliiued roR THE YEI AR ENDED 31 DECEI MBER 2024 CHARITABLII ACTivrriES COSTS Git fiinding of activities {sec not¢ Support costs (s¢e note 9) Dii'ecl Costs 8) Totals Ti'aninii)g costs & grnnts Biiildiiig surveys Outreaolj Ecuii)enical activity Welf'e gi'ants PasloLxI support Cliildi'en & youtli developiiient Manse purchases Missioii grants Churcli iinpioveillent & developiiicnt Manse inainlenance & in1plve171cnl Governance costs 60,528 20,8118 13,S33 16,463 1,294 36,823 57,588 60,528 20,888 13,533 16,463 1,294 36,823 57,588 490,000 104,461 143,$81 102,549 <40,781) 490,000 104,561 143,581 101549 (40,781) 592,$49 455,259 (40,781) 1,007,027 CRAIYTS PAYABLE 2024 2023 Tn]ning costs & grants Biiilding surv¢y5 Outreach Ecuiiieiiical activity welfa grants Pastoiil support Cliildi'en & youtii developineiit Mission giants Cl)urcli iniprovemenl & developnKnt 60,528 20,888 13,S33 16,463 1,294 36,823 57,588 104,561 143,581 64,736 9,642 12,073 16,625 1,554 16,966 54,883 50,978 11,422 455,259 238,879 Page 22 continued.,,
TRUST PROPERTY ADMINISTERED BY THE MEI RSEY SYNOD OF UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATEMEiYfs - eoiilinued FOR THE YEAR ENDED 3I DEI C,EMBER 2024 SUPPORT COSTS Gov¢i'natice eosLs Goveimance costs {40,781) Illcluded in goveii)ance costs is the IEversal of a provision for coiitribulions payable lo the deficit of tlie iiiinislers pension fui)d. It has beeii delei'lniiied that sufficient contrikntions havc been imade and no inore are requird. Support costs, included in the above, are as follows: GoVRNANcE COSTS 2024 2023 Total activilies Goveinance cos15 Wages Auditors, i'cmuneralion L¢gal Post print & sialionery Teleplione 132,070 6,720 J3,835 5J58 5,002 128,303 6,000 12,810 3,166 4,281 i li liisui'aiiee Reiil Liglit & lieal Repails Synod officer8 expenses Siindi'y expenses Syiiod conllnirtees expenses IT suppoi't Bank cliarges and interest Support foi. minisleEs pension nd 12,595 S,236 3,449 6,197 6J29 28,724 2,318 11,027 3S9 (280,000) 16,510 5,125 6,617 5,341 5,260 23,522 4,721 14,410 430 (40,781) 236,496 io, AUDITORS, REMUNERATION 2024 2023 Fees payable lo die dMrity'8 auditots for the audit of clmrity's finaiicial stalernents 6,720 6,000 Page 23 continued...
TRUST PROPERTY ADMtNISTERfD BY THE MERSEY SYNOD OF iINITED REfoRMED CIIURCH NOTES TO THE FINANCIAL sfATEMENTS- contillued IOR THE YEAR ENDED 31 DEI CEMBER 2024 ii. TRUSTEEI S, REMUNERATION AND BENEFtTS T1]e were no knileeS, reniuncmtion or other b}efitS foi. the year ended 31 Deceinbei. 2024 nor foi. the yeai. ei)ded 31 December 2023. TRUSTII [1 S, EXPENSES Soii)c of the In]stees received i'eiA)ibJrseniertt of expenses incurred in lfilling theii. duties as trustees, Tlie conibincd lolal of Ilie expens&8 for the year to 31 t)ecembei' 2024 was £nil. 12. STAfiF COSTS 2024 2023 Wdges and salari¢s 132,070 128,303 132,070 128,303 Tlie average nionthly nuinber of aiiployees during Ihc year WAS AS follows: 2024 2023 Synod staff No employees rcceived eino5iiments in excess of £60,000. 13, TANGIBLE FIXED ASSIITS Molor veliieles Coii)puter eqiiipment Totals COST Al l January 2024 and 31 Decefftber 2024 13,131 25,635 38,766 DEPREI CIATION Al l January 2024 and 31 December 2024 13,131 25,635 311,766 NET BOOK VALUE At 31 December 2024 At 31 Decetnbcr 2023 Page 24 continued...
TRUST PROPERTY ADMINISTERED BY THE LKERSEY SYNOD OF UNITED REFORMEI D CFtURCH NOTES TO THE fiINAf4CIAL STATEMENTS- continued FOR THE YEAR ENDEI D 31 DECEI MBER 2024 14. FIXED ASSET fNVESTMENTS Lisled inVe5tLncnls MARICfi T VALUC Ai i Januaiy 2024 Revaluations Tjxnsfer lo poitfolio c&81) aLcounl 6,839,134 247,511 (136,743) At 31 D¢ccinber 2024 6,949,902 NEI T BOOK VAI.UK At 31 Decetnbei. 2024 6,949,902 At 31 December 2023 6,839,134 11iere welt no inveslinent assets outside Ilic UK. Cost oi. valuation at 31 December 2024 is trpirsenled by.. L15ted liivestn)ent8 Valiialion in 2021 Valuation in 2022 Valualioii in 2023 Valuation in 2024 Cost 720,444 (92,973) 4611,840 374,502 5,479,089 6,949,902 Tlie fail. value of t])e listed inveslniciils is detsmiined by reference ilie bid quoted pi'ice iii an active mai'kel at the balance sheet date. 15, DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Oth, debtors 23,734 33,042 Page 25 conliniied.,.
TRUST PROPERTY ADMINLSTERED BY THE MERSEY SYNOD OF UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATkMENfs- continued FOR THE YEAIi ENDED 31 DECEMBER 2024 16. CURREKf ASSET INVEgfMENTS 2024 2023 Epworth investlnent funds 336,000 17. CREI DITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 OIILer cledilors Supi)ort for tninisters pensioii fi)nd Ac¢n]4ls and defetTed incoine 701,186 563,088 40,000 20,062 143,921 845,107 623,150 Included in otlier cttditors is £121,000 whicl) is tlic pro¢eeds from the sale of the foiinei- Hanipton Road URC Ilial dre dLl¢ lo be paid to Scai'isbrick Fstates under a ieversionwy clause. EIToits iiiade by tlie clrdl'ity's soliciloi's lo ari'Rnge payiiicnl of this debt have beeii delayed due lo the i'equire]nenl of a sclieine lo be set up ill i'e18ti0n to the fiiiids. 18. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YE¢ AR 2024 2023 Suppoi't foi. Iniiiislers pension Fund 240,000 19, MOVEMEIYT fiUNDS Nel iiiovenienl in fiind8 At 31.12.24 AL 1.1.24 Uiii'estriLted lund$ General fijnd Designated fvnds 355,041 3,476,041 405,276 {9,532) 760,317 3,466,509 3,831,082 395,744 4,226,826 Resti'lcted funds Manse s¢lieine Alt¢inaliv¢ niinisllies lld 2,553,563 5S,U40 (198,283) (10,946) 2,3.fj.5,280 44,094 2,608,603 {209,229) 2,399,374 TOTAL FU]YDS 6,419,685 186,515 6,626,200 Page 26 continued...
TRUST PROPERTY ADMINISTERED BY THE MERSEI Y SYNOD OF UNITED REFORMEI D CHURCH NOTES TO THE, FINANCIAL STATEMENTS - COnnued OR THE YEAR ENDED 31 DECEfvIBER 2024 19. MOVEMENT IN FUNDS- coiitinued Nel niovanenl in funds, incliided in t1 aknve are as follows.. Inconiing resources Resources expciided Gains and losses Moveiiient in fijnds Uni'estiicted funds Geiiei?l fiind Designated fuiids 566,169 4,459 (160,893) (261,501) 405,276 {9,532) 247,51 S70,628 (422J94) 247,510 395,744 Restrlcted funds Maiise selicine Aliern&live ininistries fund 418J92 (A) (616,675) (10,945) (198,283) (10,946) 418J91 {627,620) (209,229) TOTAL FUNDS 989,019 (1,050,014) 247,510 186,515 Coiiipai'Atives for Inovenitnt lli funds Net nloveinent in funds Ti'ansfers between nds At 31,12.23 At 1.1.23 Unr¢sli4cted funds Genci'al fiind Designated fiJnds 304,161 3,072,768 <49,120) 403,273 100,000 355,041 3,476,041 3,376,929 354,153 100,000 3,831,082 Resti'lcted fuiids Manse properly reserve Mai)se s¢lieme Alt¢rnalive miiiislries fijnd 100.000 1,950,055 65,276 (100,000) 603,508 (10,236) 2,553,563 55,040 2,115.331 593,272 ( l(Kl,000) 2,608,603 TOTAL FUNDS 5,492,260 947.425 6,439,685 PAge 27 continued...
TRUST PROPERTY ADMINISTERED BY THE MERSL¢ Y SYNOD OV UNITED REFORMED CHURCH 1¥40TES TO THE FtNANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 19. MOVEI MENf IN FUNDS - eontlnutd Coiiiparative net movement in fvnds, included in t1 above are &s follows: Inconiing i'esources Resoiirces expeiided Gains Vlnd losses Movenicnt in funds Uiii'esti'icted Kunils Genei'al fiilld Desisi)aled thnds 356,938 175,720 (406,058) (82.368) (49,120) 403,273 309,921 532,658 (488,426) 309,92 354,153 Restileted funds Maiise sclicine Alteiiiative niinistries fuiid 699,820 (96,312) {10,236) 603,508 (10,236) 699,820 (106,548) 593,272 TOTAL FUNDS 1,232,478 {594,974) 309,921 947,425 20. RELATED PARTY DISCLOSURES There weil no rclated party tsxnsaclions for Ilie yeai'ended 31 Deceniber 2024. Page 28
TRUST PROPERTY ADMtNISfERED BY THE MERSEY SYNOD OF UNITED REFORMED CHURCH DETAILED STATEMENT OF FINANCIAL A1VITIEs FOR THE YEAR ENDED 31 DECC4 IIBER 2024 2024 2023 INCOME AND II NDOWMENTS Dona¢ions aiid legacies Gifts donations 251,936 208 Iiivestineiit iiicoine Divideiids alld iiilei'esl i'eceived 244,075 218,732 ChAritAble thetivlties Pi'oceeds froni cliui'cli disposals Pi'oceeds from nianse disposal Graiits 3,900 418,391 12,407 138,977 699,820 12,830 434,698 851,627 Oiliei, iiicome Gain on sale of IBiigible fixed asse18 0]ee sales Olhci. incoiiie Rental incoire 52,512 1,001 40,442 67,956 7,772 50,538 58,310 161,911 Total Ineomliig i'esoui'c 989,019 1,232,478 EXPENDITURE Other trfidlng Actlvlti Pw'chases 1,158 1,305 li)vestn)eJit IiiAJiageJiient costs Portfolio ntsitsgeinenl 41,829 36,555 ChAritAblLi aLtivitie8 Manse maintenance and impiovenients Pui'eliase of LinseS E¢iiin¢nical, Illission aiid tt'atning costs 102,549 490,000 455,259 81,739 238,879 1,047,808 320,618 Suppoi't costs Governance Costs Wages Auditoi's, i'emiineralio Legal Carried foiwai'd 132,070 6,720 13,835 152,625 128,303 6,000 12,810 147,113 This page do wt form part of the statolY financial stalenients Page 29
TRUST PROPERTY ADMINISTERED BY THE MERSEY SYNOD OF UNITED FORMED CHURCH DETAllED STATEMENT OF FINANCIAL ACTIVMES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Govei'liallce costs Blouglit foi'ward Post pi'int & slationeLy TeleplLone Insui'ance Rent Liglit & l)eal Repails Synod officei's expenses Suiidry expeiises Synod committees expense8 IT siippoi'l Bank el)ai'ges and Int.eSt Siipport for minist'S pension fund 152,625 5,358 5,002 J 2,595 5,236 3.449 6,197 6J29 28,724 2J18 11,027 359 {280,000) 147,113 3,166 4,281 16,510 5,125 6,617 5,341 5,260 23.522 4.721 14,410 430 (40,781) 236,496 Total i'esoLiires expended 1,050,014 594.974 Ne¢ (eipendtlui'e)lincnme befoi'e gAlJis and losses {60,995) 637,504 ReAllsed i'¢coEiilsed galiis Alld losses Realised gaiiis/(losses) oil fixed asset iiivestments 247,510 309,921 Net Ineonio 186,515 947,425 This page does not forni W of the stalulory fingllcial slatements Page 30