## **LION WALK CHURCH** he
_The_ **United .... Reformed Church** P
## LION WALK UNITED REFORMED CHURCH CHARITY ACCOUNTS 2024
## ***
Charity Registration Number 1132811
> Lion Walk United Reformed Church Charity oe rs et bre ~ gee
“gee Accounts for year ending 31 ae AG” eee[st ] December 2024
> LION WALK UNITED REFORMED CHURCH CHARITY ee ~ the mn COA Oe
> Accounts for the year ending 31 Ls ty “aoae 2°"[s][t ] December 2024 eeBY
> Pages 3 to 7: ye Report of the Trustees eeein ait
> Page 8: aap * Independent Examiner's report rT ya ote Pape Sera” -% SF Page 9: Statement of Financial Activities Le FP oye eg Rar Page 10: “ween 1 1 Balance Sheet kh hk” eer
> Pages 11-17: "ee ke Notes to the accounts OL Cia =F “
> ********** - T=. Me
> There will be an opportunity at the Annual Church Meeting on the 27 April 2025 for Church Members to raise “lf © WH dhe ey ee A ee PO Se, Se a” Be oe Ee
> any queries they may have. mane Neoeye ren mat ernest
> ********** tat ve
Page 2 of 17 whe
Rae Lion Walk URC Charity Accounts Oe ae 2
Examined and Signed Dot amsteet4 $925 —“c-9e
Accounts for year ending 31[[st ]] December 2024
Lion Walk United Reformed Church Charity Accounts for year ending 31[[st ]] December 2024 He **Report of the Trustees** ~= lee SP“+lt Poagas 4 The trustees present their annual report on the affairs of the charity, together with the financial statements ime Dita tata” ok iT ee iy Th foe araae Avy SASH Seti aN ae MaeGot eta =tyr 0 and independent examiner's report for the year ended 31 Fee ee eeeee eee[st ] December 2024. ee FL
hye The financial statements comply with the Charities Act 2011 and Accounting and Reporting by Charities: 4 Fee PET OS Le ee A ge a ee ey, ‘Aetur Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance f “soresSem a SR eg ee Od es a ee with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102. pom ee ds ete oeseee ee os Behe
## **Administrative information** ae ry 5 te i gether st
Lion Walk United Reformed Church Charity is a local church of the United Reformed Church in Great Britain PSY Dee Rad ry eae lt Anode LS We and is a member church of the Eastern Synod. It was registered on the 19 i ee ee ae ee eC i[th ] of November 2009 as Charity a i ee Number 1132811.
> The church is situated in the Lion Walk Precinct, Colchester, CO1 1LX. eeeOPS ee Se A er DPed
> The members of the Elders' Meeting are recognized as the charity trustees. Those who served from the 1 feet ed ee ag mere a le ee ee TS a[st ]
> January 2024 until the date this report was approved are: ae is ee ee[ee] ek
> Colin Baldock, Grace Baldock, Louise Brooks, Linda Freestone, Colin Hurford, Carol Nicholson, Abimbola auy be! ae am! er 3 sas, ~~. eta ue, ae: Meth? a Pa i
> Oshisanwo, Ian Ray, Colin Roxby, Anne Tomkinson and Serena Williams. Me ce a ee a cid ate “Tse At the Annual General Meeting on 21 April 2024 Susan Boddy, Kenneth Forbes, Linda Hart and Diana Jones all ot has wee a aT i a) oo “eit Sit en ot. ba Sine Pee | Deva ual
> retired as Trustees, and Lynda Barnes, Diane Oshisanwo, and Jean Tilley were appointed as Trustees. pel a a ie ee eer ee De eee wale wie
> The church building, car park in Vineyard Street and the manse at 20 Reynolds Avenue are vested in the United eS a de ey2 a oe ee een Be US,
> Reformed Church (Eastern Province) Trust as custodian trustees and held for the benefit of Lion Walk URC in a a, i feel On imo. m. Ms 2 oo wen Oe ed Gar bel vite He =
> accordance with the trusts applicable to URC properties. 3 ee Se Seeral ee AE Bare8
## **Structure, Governance and Management** aap de atseera ee
> The activities of Lion Walk United Reformed Church are overseen by the Elders' Meeting of the Church in Tea BOO = Bast stggs Pin ee ek ee en er ee
> accordance with the provisions of the Structure of the United Reformed Church determined by the General simi ee Lam Ja = At feet ete Se Stas bes ot be es Pek ee Assembly of the United Reformed Church and supplemented by the rules of Lion Walk Church. The governing CTE OS eS 5y A EM Re, Se UNE eS eae feet
> document of the registered charity is a statement adopted by the Church Meeting on the 17 Setapet Se) ptt A ae Fy a eg be A Sr “eg ts[th ] August 2009. Ae -
> The Elders' Meeting is responsible for the financial administration of the Church and the care and maintenance ea ge ey ed ee ee tg ee a ee ee
> of the church premises and the manse. The Church Meeting (all members are entitled to attend) gives general a ee ae ee, Ye ea ae he a eg ee eee
> guidance on the life and work of the Church. men “2 etn wh Ss i. The members of the Elders' Meeting are the minister in pastoral charge (if any) and up to 12 members of Lion Unt ae a” ea te te eeey* ye area ee ie eetahs “tir
> Walk Church nominated and elected by the members of Lion Walk Church in Church Meeting. The Elders' oe ST Swae a OW ER Ye ee OS
> Meeting may also co-opt additional members to serve at any time subject to ratification by Church Meeting. ieta Ry Eel ata 1 ew ow ew de OT ae a een,
> Elders may serve for four years, retire by rotation but may be re-elected to a second term, after which they Py Se ee eea et ey must stand down for one year. <8 TitsgeTES Stee,
a The Elders' Meeting is assisted in the administration of the Church and its property by committees established wi oe te [Kate eer de ot oedi e ce _wt - ae ee for Finance, Property, ICT and Outreach. The Finance Committee was put in abeyance at the end of November SE MS AS Rl AE A ek ORR eS LL ae SO 2023. Finance matters are overseen by the Finance Group, appointed by the Meeting Elders, and consists of a aT eh eee ey bn * See Gesyt, Sas ue gS pay te, ay Ceri ye the Treasurer, the Church Secretaries, the Minister and the Gift Aid Secretary. ee oe eeee eo ee re
> Kenneth Forbes retired as the Minister of Lion Walk Church on 30 June 2024. Ian Hardie was appointed as “Woe Meroe ee ey Yee ee ere Oe IL,
> Interim Moderator, by the Moderator of the United Reformed Church Easter Synod, to support the Church “0% fiinhtee Fjetery Soca) co“ A aoe te oe ce Pie ee 4, Ne Pe Po =. during the interregnum. Sa _* a
> Lion Walk URC Charity Accounts =r NS ee ee Examined and Signed eee ats eek
> Page 3 of 17 4 oa
Accounts for year ending 31[st ] December 2024
Lion Walk United Reformed Church Charity
## **Objectives and Activities**
As a local congregation of the United Reformed Church, Lion Walk URC seeks to advance the Christian religion through its activities, by providing facilities offered to the community and by promoting and hosting concerts and other events of religious and cultural interest.
The Elders[1 ] Meeting is aware of the Charity Commission1s guidance on public benefit in 'The Advancement of Religion for the Public Benefif and has regard to it in the administration of the Church. The Elders' Meeting believes that the Church provides benefit to the public by:
- Providing resources and facilities for public worship, pastoral care, and for spiritual, moral and intellectual development, both for the congregation and for anyone else who wishes to benefit from what the Church offers.
- Promoting Christian values and service by members of the congregation to the community, for the benefit of individuals and Society as a whole.
Through 2024 the Church raised money for charitable causes year, which have been disbursed as follows:
Various charities[/] organisations -£5,878
Commitment for Life Appeal -£8,025 (including Gift Aid tax receipts)
## **Financial Review**
This report was prepared by the Treasurer on behalf of the Meeting Elders.
The Church accounts have eight funds, each designed for a specific purpose as follows:
1. **General Fund** -This is the Church's general fund to which all income and expenditure goes unless specifically allocated to one or more of the following designated or restricted funds.
2. **Property Maintenance Fund** - This is designated for the management and maintenance of the church's property and derives most of its income from the portion of shop rents[1 ] allocated to the Church by the Eastern Synod of the URC.
3. **Legacies Fund** -This receives legacies left to the church and the fund is designated primarily for the purchase of new (or improved) equipment and for the purchase of flowers.
4. **Outreach Fund** -This receives income from various sources and is designated for general charitable work, mostly by way of donations to iocal, national and international charities.
5. **Organ Fund** -This is designated for the routine tuning and repair costs of the church1s organ and pianos.
6. **Choir Fund** -This fund was established in 2017 by way of a legacy from the estate of Eva Hopping, whose wish was that it be restricted for the support and development of music in the church.
- **Special Collections** -This restricted fund is simply a home for monies collected during the year (e.g. Commitment for Life and Christmas Appeals) where the money comes in and goes straight out to designated organisations[/] charities.
- 7.
8. **Special Events** -This fund was created late in 2018 and is designated to provide a means to manage fund raising events where an element of trading occurs and transactions could be clearly separated and tracked.
Reports on the funds follow.
> 1 These rents are derived from retail premises that occupy land owned by the URC within the Lion Walk Shopping Precinct in Colchester and leased to the owners of the precinct.
Page 4 of 17
Lion Walk URC Charity Accounts
Examined and Signed
Lee Lion Walk United Reformed Church Charity ee eee erSg. py
By Accounts for year ending 31 Ler ee pega ie Bs[st ] Cay, December 2024
## **General Fund (unrestricted)** ee?Mn fe
> Voluntary income, mainly from offerings at church services, via standing orders, through the envelope scheme eae. ite beh! Pe “TAS eM ee ee ete oe Se te ae A ee eee —[— and one-off donations, together with the Gift Aid claimed on eligible donations totalled £92,814 against a Rate21 ig ay 7paneer” 8 dnt r* re | yma, =r Ss “ig = a e) eee 4
> budget of £103,880. 7 MP rt CPL The investment, income from interest retained on the Unit Trust invested with COIF totalled £7,643, against a Pe bors ace De a Ake he I-u 3 =f? Fase i h- eee kh “ “ia budget of £7,500.
> The other sources of income were income from letting the premises, on favourable terms to local we Wha “pe FP goes he ee Re ee A 2, *. shOn ime,
> organisations, and rent, from the flat above the Church and the manse, which was let following the ts ae eS hw ee ot et ot “Sep ee me, ed YT ed thta
> retirement of the Minister and refurbishment. The income from these sources totalled £18,878. ry ia 3 eee yer | 420 9 Pe pee Or
> The operational costs of the Church in 2024 were £142,951. These are significantly higher than the fe eo Sa al ake f) Be? Sent OY oe oe She ee, ee a a we) operational costs in 2023, £114,437, and the budget, £133,521. The increase in operational cost was mainly seis 15° Mi Bigs Od anal). Rigen Si y ~, Sto wel a ra, on ee f "st 4a
> due to the work to refurbish the manse and the higher staff costs. ani Ol | Bue Hebe, PH OL
> The impact of the higher operational costs and lower income on the General Fund was a deficit of £23,665 in ey WA aks SE ee 2 de PU Fo ei Mo ie ve the year. As a result the fund ended the year significantly lower with a balance of £55,898. ae Pow arti | "J oo Aue Beatty we oom ofc me eS,
## **Property Maintenance Fund (designated)** Pot ok eeote Sted tee
> The main sources of income to the Property Maintenance Fund in 2024 were the share of shop rent from URC “Et seepceest ore A “Sle ea ee na? “ee et i A ee[oe]
> Eastern Synod, interest from investments and the URC Eastern Synod's contribution towards the Service wwe! PS, ere Se re Bee ee he ee Ce wy Pee eee Ges eee
> Charge. St Ti The income from the investments was £7,643. The from shop rents was £15,330, lower than the income from Rees Ha Re see etSenta A Te Tt hee PeeA, oe tiny Mee oe ate
> this source in 2023 which was £20,532. As of the year end Lambert Smith Hampton have not transferred the at ie Pete gee SE are,ee pg! * oe eh PPS] Bpenee ce rent for the last quarter of 2024, and this has not been accrued in the accounts. eh Lsdee ae “ns 8 a it, et he SO 7H The United Reformed Church Eastern Synod (Synod) continues to contribute 78% of the Service Charge, the | bes Shc ei a tt ie tt a ee Pin Cotte Le oe FE SU same proportion of the shop rents retained by the Synod, which came to a total of £13,459 in 2024. As a result, pe ee Gey KE ares i a ka eee lp Dope Lge eee the net expenditure on Service Charge was £3,796. = | — = wee Peed 2 ate ™ The value of the units held with COIF increased by £7,316, the lowest increase for a number of years and the 6 "toe OT ae Tne ei eel A ee TSS eet of te ee See[5][eh] ew
> fund ended the year with £380,763. ee ee aD|
## **Legacies Fund (designated)** Qytet edhe ba an
> The Legacies Fund did not receive donations in 2024. We ate) Pta eee a ee
Townes The main expenditure from this fund was for the retirement gift for our minister, Kenneth Forbes, who Src Foote =i! Fs ad i i i “my ‘LU ee ht ,@ eo retired on 30 June 2024, office furniture for the Vestry and flowers for Mothering Sunday and for people Wek aveee ea ey ee a ee ee Le a vee marking significant birthdays/anniversaries. tee ate pee.
The Legacies Fund ended the year with a balance of £4,877 against an opening balance of £8,850. then wpa =~_* sean! To re Ls ‘Whe “Kegel 2 81m Sa oa fen, nl o> 8
“52 **Organ Fund (designated)** Pn22 4s) Latte The Organ Fund still had sufficient funds for the tuning of the pianos and the repair of the organ. The fund ai a” Lee ee ree “a ty AG gets De BAe “eee TG ee I ers ended the year at £443. De +
> This fund is in run down, and the costs for repair and tuning costs of the organ and pianos will be met from VWelgnpigh) ov emer ye Peters er, my pens Be vo, RS os Whe the General Fund once the fund is depleted. esc Se a ee ee = “RL
## **Outreach Fund (designated)** a. a et dele lees
> The Church continues to support charities working to alleviate suffering in Colchester, the UK and, through UK “pH shot Ligh le Men va i si ee Pe eeee le
> based organisations, worldwide. Such organisations include large charities such as Christian Aid. The fund also ae ee eree een Tyra Pee Sapte fe tages cg Pee he supports smaller charities such as the Colchester Night Shelter. See LS!a ae, Re. Sa Se
Mie Lion Walk URC Charity Accounts | ee a Se rt
> Page 5 of 17 be lal 2
Examined and Signed al 7m tat al A tna,
ee Lion Walk United Reformed Church Charity eeer ho
= Accounts for year ending 31 ae fon See BY[st ] 4 December 2024 oe Te.
> The primary sources of income for this fund are transfers from the General Fund, retiring collections from the Br 0 tee ae.” AE PD Wa aay ee 2s eePL L neerk Te et
> Wednesday Lunchtime Concerts, proceeds of the Wednesday Lunches and retiring collections on Communion “2 ty Say FeySP Sete eu, ere 8 OY oe ge Sundays.
> The funding policy for the Outreach Fund is to transfer funds from the General Fund to ensure it has at least Se Py ce FP ce Fae ee = ee de “Ss np ee Pe Te ge* oe it
> £10,000 at the beginning of the year. The Outreach Fund balance was £14,149 on 1 January 2024 and a transfer Te rs gt mr cet Se ee pie ig BS Na ota pees! Ade Powel! from the General Fund was not deemed necessary. of - 8 6 eee Sen Tes (ieee
lu The Outreach Fund received an income of £9,293 during 2024 and donations of £5,878 were made to various me ce ee ee Oe ee a it ore rt | ee en | organisations that are listed in Note 11 on page 17. The main expenses to the fund in 2024 were the cost of wate SE et DedA te Oe Le ON Pe ee on) 2 eee Su the ingredients for the Wednesday Lunches and the expenses for the artists who played at the Wednesday SewMe er ie Cteh td Dg otehe ea te ee es ee oe Concerts. In total the expenses from the Outreach Fund were £8,790 leaving the fund with a balance of oe eee ees . = fe we. Ts aw ple ls /: 7 Y f-- ¢=2 SS £14,652. Pee
## **Choir Fund (restricted)** hsber savin) fase?
“TP This fund was formed through a legacy from the late Eva Hopping, a life-long music teacher and steadfast as ae ied oe * Piva t Hat whe Se ee ry er el 4, Ee ee me Bota. supporter of musical enrichment in Lion Walk Church. ‘ ce ae eR er itfegh hy = The Choir Fund continues to receive support from the heir of the late Eva Hopping and a donation £200 was 7 ay 2 Alsaes en gee i. fel Fe ge = 8 ae ft eweg Ts | received in 2024. The Choir Fund ended the year with a balance of £844. ote Pe The rs Salo eo” Pn
## **Special Collections (restricted)** Ima ah? "eth ge aA hte &
> The income to this fund is from the Church Member's donation to the URC 'Commitment for Life' appeal for Byes ee te er eae 2! es re Pe ae | Christian Aid, collections at the Christmas Festival Services and events, Christian Aid Week events organised ae Wmdienar ut fists ee ee oe a! ae oe “ae ten I by church members and from Gift Aid Tax Refunds on eligible donations received. a ee i ae ee ame iE eke ot x)
> The donation to the URC Commitment for Life appeal, together with Gift Aid, totalled £8,025 and that for Vy ler Se Pee Le Bred fT! al let, Lv So 6 SAit Tin donations during events organised during Christian Aid week £513. OE of Opes! ay ui ing Fe ee ee
## Sp **Special Events (designated)** 285" or ee
> There were no special events in 2024. Ts es € yes 42. 2
oom Lion Walk URC Charity Accounts role og BO oP Se a aay "© Examined and Signed ae! eee an"
raga Page 6 of 17 sf —!
Accounts for year ending 31[st ] December 2024
Lion Walk United Reformed Church Charity
## **Comments and Conclusions**
**Governance Costs-The** governance and accountancy services costs in 2024 were as follows:
Payroll Services: £361
Independent Examination of accounts: £460
No remuneration was made to the church officers or members of the various church committees.
**Going Concern** - The trustees of the Lion Walk United Reformed Charity deem that there are sufficient funds available to continue to operate on a going concern basis for the foreseeable future.
**Conclusion** - The overall funds of the Church decreased by £53,855 in 2024. This is mainly due to a deficit in the General Fund of £23,665 and the Property Maintenance Fund of £25,120. Despite the significant decrease in funds the Church funds ended the year with a balance of £456,687, sufficient to fund the activities for 2025 and beyond.
Overall, these accounts show that the church finances continue to be in a good state to meet the aims and objectives of Lion Walk United Reformed Church Charity.
## *********************
The foregoing report and the accounts were approved by the Meeting Elders at their meeting on 27[th ] March 2025 and are signed on their behalf by:
Date:
Louise Brooks,
Chairperson,
Lion Walk United Reformed Church Charity
Page 7 of 17
Lion Walk URC Charity Accounts
Examined and Signed
Accounts for year ending 31[st ] December 2024
Lion Walk United Reformed Church Charity
## **Independent Examiner**
## INDEPENDENT EXAMINER'S REPORT
To the Trustees of LION WALK UNITED REFORMED CHURCH
Year ended 31[st ] December 2024
I report to the Trustees on my examination of the accounts of Lion Walk United Reformed Church for the year ended 31[st ] December 2024, which are set out on pages 9 to 17.
## Respective responsibilities of trustees and examiner
The Elders as Charity Trustees of the Church are responsible for the preparation of the accounts. The Trustees are satisfied that an audit is not required for this year under section 144(2) of the Charities Act 2011 {'The 2011 Act') and consider that an independent examination is needed.
It is my responsibility to:
- examine the accounts under Section 145 of the Charities Act;
- follow the procedures laid down in the general Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act);
- to state whether particular matters have come to my attention.
## Basis of Independent Examiner's Report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Church and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the Elders as Trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a "true and fair" view and my report is limited to those matters set out in the statement below.
Independent Examiner's Statement
In connection with my examination, no matter has come to my attention:
- (1) which gives me reasonable cause to believe that in any material respect the requirements:
- (a) to keep accounting records in accordance with Section 130 of the 2011 Act, and
- (b) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met, or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signed: Independent Examiner
> Date: **'Z.07 ... -5**
_**:J** '_ c.r _**'R ....**_ FMAAT _'&_ Co..-v"- "'•· KS ,e>
Lion Walk URC Charity Accounts
Page 8 of 17
Examined and Signed
Lion Walk United Reformed Church Charity
Accounts for year ending 31, December 2024
STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 31ST DECEMBER 2024
Unrestrrcted Funds
Gengral
D8signat8d
R•stri¢ted
Funds
Total
2024
Totsl
2023
Noto
INCOME
Donations and Legades
Investment income
Income from charitable actiwties
Other income
92,814
7.644
845
7.642
8.448
15,330
93.659
15.286
17,066
36,765
94.514
1S.574
18.095
58,824
2b
2¢
2d
8.618
2,557
18.878
TOTAL INCOME
119.336
32265
11,175
162,776
187,007
EXPENDrruRE
Fundraising events
Charitsble activities
General church expendibjre
Ministerial costs
3a
3b
3¢.4
3d
8,778
57,505
8,538
5.164
17,316
121,003
84,617
23,969
129.267
59.071
58,334
84.617
TOTAL EXPENDITURE
142.951
66,283
13.702
222.936
212,307
Net Incomin(0Utg0ing} reyourcès bofor•
transfer$
{23,6151
50
(34,018)
{2.693)
{36.711)
(2,5271
2.743
160,1601
(25,3001
Gross transfers betwggn funds
Netlncome/(expenditure)
23.665
216
60,160
25.300
Other recognlsed galnsl(lossès)
Realised gains I Ilossesl on investsnents
Unrealised gains I Ilossesl on invastments
Net movement in fvnds
Total fund5 bToutht forward
1 January 2024
Total funds carrted forward
31 December 2024
7.316
{29.3951
7,316
152,8441
20.326
14.9741
(23.6651
216
79,564
430,170
808
510,542
515.516
55.899
400.775
4S7.698
510.542
Lion Walk URC Charity Accounts
Page 9 of 17
Examined and Signed
Accounts for year ending 3i[5t ] December 2024
Lion Walk United Reformed Church Charity
## **BALANCE SHEET AS AT 31ST DECEMBER 2024**
||||**31**|**31**|
|---|---|---|---|---|
||||**December**|**December**|
||||**2024**|**2023**|
|||**Note**|**£**|£|
|**Tangible assets**||**6**|23,867|16,167|
|**Long tenn Investments**
**Current assets**
**Debtors**
**(Short tenn} investments**|**_Total fixed assets_**|7
8|397,945
421,812
975
39,435|390,629
406,796
6,646
87,411|
|**Cash at bank and in hand**|||4,679|13,995|
|**_Total current assets_**
**Creditors: amounts falling due within one year**||9|45,089
9,203|108,052
4,306|
|**_Net current assets/(liabilities)_**|**_Net current assets/(liabilities)_**||35,886|103,746|
|**_Total assets less current liabilities_**|||457,698|510,542|
||**_Net_assets**||457,698|510,542|
|**Funds of the Church:**
**Unrestricted funds**||10|55,899|79,564|
|**Designated funds**||10|400,775|430,170|
|**Restricted funds**||10|1,024|808|
||**_Total funds_**||457,698|510,542|
Signed:
Louise Brooks
Chairperson, lion Walk United Reformed Church Charity
Page 10 of 17
Lion Walk URC Charity Accounts
Examined and Signed
Lion Walk United Reformed Church Charity
st
Accounts for year ending 31 December 2024
Notes to the Accounts
Accounting Polices
Basis of preparation
The fiDan¢ial statements are prepared under the historical cost convention, as modified for the valuation of
investments at fair value, in accordance with the Statement of Recommended Practice "Accounting and
Reporting by Charities (SORP 2019)" applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
So far as appropriate, these accounts have been prepared with guidance from the United Reformed Church,
and the particular practices used are described below.
Classification of funds and accounts
The eight funds in operation during 2024 and their use and purpose have been described on pages 5 & 6 of
these accounts. All the Designated Funds, which have been set aside for specific purposes, can be returned to
the General Fund at any time if the Church Meeting so decides. Restricted Funds are those which cannot be
returned to the General Fund and, at present, the only examples are the Choir Fund and Special Collections
Fund.
Cash Flow
The financial statements do not include a cash flow statement because the charity, as a small reporting entity,
is exempt from the requirement to prepare such a statement.
Fixed Assets
The Church has three fixed assets on the asset register that are depreciated on the basis of their anticipated
useful life.
The land and buildings of the Church's town centre property {including the car parks and the Manse) are not
capitalised as the Charity Commission has recognised that they are held in trust for the Church by the United
Reformed Church (Eastern Province) Trust as custodian trustees and are recorded in the Trust books. The
contents of the Church premises being provided for in the Property Maintenance Fund.
Long term investments are included at market value. The Statement of Financial Activities (SOFA) includes the
net gains and losses a rising on revaluation at the year end.
Income & Expenditure
Income includes cash received lor when its receipt is considered certain
excepting tax recovery on
Covenanted and Gift Aid income, which is only recognised on receipt}. Expenditure is recognised when
payment is made or when a liability has been incurred, but no payment has been made. A legacy is credited
in the year it is received.
The expenditure includes any VAT which cannot be recovered and is reported as part of the expenditure to
which it relates.
Taxation
As part of the United Reformed Church, the church is an excepted charity within the meaning of the Taxes Act.
Accordingly, it is potentially exempt from corporation tax in respect of income and ca pital gains received to
the extent that such income or gains are applied exclusively to charitable purposes. No provision for taxation
has been made in these financial statements.
Lion Walk URC Charity Accounts
Page 11 of 17
Examined and Signed
Lion Walk United Reformed Church Charity
Accounts for year ending 31" December 2024
LION WALK URC- NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2024
Unrestrlcted Funds
Restrlcted
Total
Totsl
NOTE 2: INCOME
General Designated
Funds
2024
2023
2{al Donatlons and Legacles
Freewill offering
Donations
Gift Aid
73.314
2.927
16,573
73,314
2,927
17,418
70.027
3,570
20,917
845
92.814
845
93,659
94,514
21bl Investment incorne
Interest from investments
7,644
7,642
15,286
15,574
7.644
7,642
15,286
15,574
21cl Ineome from Charitable Activities
Donatsons & appeals- (treaCh
Wednesday Concerts
Commitment for Life appe81
Christmas appeals
Communion collections
chrisb.an Aid Collection
30
8,009
30
8,009
8.025
80
409
513
17.066
59
7,717
8,378
807
456
678
18,095
8.025
80
409
513
8.618
8,448
2{d) Other In¢omo
Shop Rents
Premises. Flat and Manse Leltings income
Other inome
Christ ChuTch and Chappel URC contributions
Special events
15.330
15.330
18,818
260
20,532
16,347
8,858
13,087
18.818
60
200
2,357
2,557
2,357
36,765
18,878
15,330
58,824
TOTAL INCOME
119,336
32,265
11,175
162.776
187.007
Lion Walk URC Charity Accounts
Page 12 of 17
Examined and Signed
**Lion Walk United Reformed Church Charity**
**Accounts for year ending 31[st ] December 2024**
## **LION WALK URC - NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2024**
||**Unrestricted Funds**|**Unrestricted Funds**|**Restricted**|**Total**|**Total**|
|---|---|---|---|---|---|
|**NOTE 3: EXPENDITURE**|**General**|**Designated**|**Funds**|**2024**|**2023**|
||£|£|£|£|**£**|
|**3(a) Fundraising expenditure**||||||
|Special Events||||||
|||||||
|**3(b) Charitable activity expenditure**||||||
|Wednesday Concerts||3,613||3,613|2,877|
|Commitment for Life appeal|||8,025|8,025|8,376|
|Outreach donations and appeals||5,165||5,165|10,528|
|Christmas appeals|||||1,510|
|Christian Aid Collection Donation|||513|513|678|
|||8,778|8,538|17,316|23,969|
|**3(c) General Church expendture**||||||
|Heat, light & water|16,840|||16,840|11,724|
|Rates and insurance|7,344|||7,344|11,302|
|Telephone|1,307|||1,307|1,525|
|Printing, postage & stationery|1,320|||1,320|1,660|
|Staff Costs|18,075|29,845||47,920|37,129|
|Organist/music|6,430|||6,430|6,800|
|Junior church|35|||35|144|
|Flowers||513||513|103|
|Sundry|2,864|838|5,000|8,702|3,201|
|Service charges||3,796||3,796|6,780|
|Routine maintenance||12,606||12,606|17,111|
|Lift maintenance||2,844||2,844|2,877|
|Tower maintenance|||||5,592|
|Organ_I_piano maintenance||807||807|1,092|
|Choir music|||164|164|100|
|Manse maintenance and management costs||186||186|200|
|Church housekeeping|1,668|||1,668|1,961|
|Bank charges|551|||551|299|
|Special large items||3,540||3,540|16,471|
|Recurring fees|363|||363|327|
|Depreciation||2,530||2,530|1,128|
|Accounting Services|821|||821|762|
|Flat management and maintenance costs|716|||716|979|
||58,334|57,505|5,164|121,003|129,267|
|**3(d) Ministerial Costs**||||||
|Minstry & Mission|65,525|||65,525|51,024|
|Minister's expenses|3,138|||3,138|6,017|
|Pulpit supply|993|||993|111|
|Manse|14,961|||14,961|1,919|
||84,617|||84,617|59,071|
|||||||
|**TOTAL EXPENDITURE**|**142,951**|**66,283**|**13,702**|**222,936**|**212,307**|
**Lion Walk URC Charity Accounts**
**Page 13 of 17**
**Examined and Signed**
Accounts for year ending 31[st ] December 2024
Lion Walk United Reformed Church Charity
## **LION WALK URC- NOTES TO THE ACCOUNTS VEAR ENDED 31 DECEMBER 2024**
## **NOTE 4: STAFF COSTS**
|**NOTE 4: STAFF COSTS**|||
|---|---|---|
|The total emoluments of employees of the Church were:|**2024**|**2023**|
||£|£|
|Wages and salaries|47,173|36,471|
|Social security costs||2,229|
|Pension contributions|746|656|
||**47,920**|**39,357**|
The average number of employees was 3 (2023: 2.25)
No employee received emoluments in excess of £60,000 during the year (2023: nil).
Eligible employees are enrolled in the NEST pension scheme
## **NOTE 5: GAINS/(LOSSES)**
|**NOTE 5: GAINS/(LOSSES)**||||||
|---|---|---|---|---|---|
|**NOTE 5: GAINS/(LOSSES)**|**Unrestricted Funds**|||**Total**|**Total**|
||**General**|**Designated**|**Restricted**|**2024**|**2023**|
|The movements on investments over the year|**£**|**£**|**£**|**£**|**£**|
|Brought forward 1 January 2024:||390,629||390,629|370,303|
|Additions||||||
|Realised gains||||||
|Unrealised gains/(losses) on revaluation||7,316||7,316|20,326|
|||397,945||397,945|390,629|
The unrealised gain/(loss) is the result of the revaluation of the fixed asset investments from last year. Investments are valued at bid value as at the balance sheet date and the surplus or deficit over last year's value that arises from this revaluation is shown within 'net gains / (losses) on investments' on the SOFA.
Page 14 of 17
Lion Walk URC Charity Accounts
Examined and Signed
Accounts for year ending 31[st ] December 2024
Lion Walk United Reformed Church Charity
## **LION WALK URC- NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2024**
## **NOTE 6: FIXED ASSETS**
Fixed assets held at balance sheet date
||**Range Cooker**|**Boiler**|**Chairs**|**Total**|
|---|---|---|---|---|
||£|£|£|£|
|**Cost**|||||
|1st January 2024|2,653|6,280|7,198|16,131|
|Additions||10,230||10,230|
|Disposals|||||
|31st December 2024|2,653|16,510|7,198|26,361|
|**Depreciation**|||||
|1st January 2024|1,137|1,570||2,707|
|Charge for Year|379|1,431|720|2,530|
|31st December 2024|1,516|3,001|720|5,237|
|**Net Book Value**|||||
|1st January 2024|2,653|6,280|7,198|16,131|
|31st December 2024|1,137|13,509|6,478||
## **NOTE 7: LONG TERM INVESTMENTS**
|**NOTE 7: LONG TERM INVESTMENTS**||||||
|---|---|---|---|---|---|
||**Unrestricted Funds**|||**Total**|**Total**|
||**General**|**Designated Restricted**|**Designated Restricted**|**2024**|**2023**|
|The investment assets held at the balance sheet|£|£|£|£|**£**|
|COIF - Charities Investment Fund||150,247||150,247|146,928|
|COIF - Fixed Interest Fund||83,632||83,632|81,028|
|COIF - Charities Property Fund||79,610||79,610|80,473|
|COIF - Charities Ethical Fund||84,456||84,456|82,200|
||-|397 945|-|397 945|390 629|
## **NOTE 8: DEBTORS**
|**NOTE 8: DEBTORS**|||
|---|---|---|
||**Total**|**Total**|
||**2024**|**2023**|
||**£**|**£**|
|Shop Rent||5,761|
|Lettings income due|975|885|
||975|6,646|
## **NOTE 9: CREDITORS**
||**Total**|**Total**|
|---|---|---|
||**2024**|**2023**|
||**£**|**£**|
|Appeals||2,912|
|Christmas Festival Donations||735|
|Commitment for Life|8,025||
|Christian Aid|718||
|Credit card||199|
|Independent Examination Charge|460|460|
||9,203|4,306|
Lion Walk URC Charity Accounts
Page 15 of 17
Examined and Signed
Accounts for year ending 31[st ] December 2024
Lion Walk United Reformed Church Charity
## **LION WALK URC - NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2024**
## **NOTE 10: MOVEMENT IN FUNDS**
|**NOTE 10: MOVEMENT IN FUNDS**|**NOTE 10: MOVEMENT IN FUNDS**||||||
|---|---|---|---|---|---|---|
|||||||**Closing**|
||**Opening**|||||**Funds**|
||**Funds**||||**Gains**|**31st**|
||**1st January**||||**&**|**December**|
||**2024**|**Incoming**|**Outgoing**|**Transfers**|**Losses**|**2024**|
|**Unrestricted Funds**|£|£|£|£|**F**|£|
|**General Fund**|||||||
|**Un restricted**|79,563|119,334|(142,948)|(50)||55,899|
|Sub total General Fund|**79,563**|**119,334**|**{142,948}**|**{50}**||**55,899**|
|**Designated Funds**|||||||
|**Property Maintenance Fund**|405,883|22,972|(55,408)||7,316|380,763|
|Sub total Property Maintenance Fund|405,883|22,972|(55,408)||7,316|380,763|
|**Outreach Fund**|14,149|9,293|{8,790)|||14,652|
|Sub total Outreach Fund|14,149|9,293|(8,790)|||14,652|
|**Legacies Fund**|8,850||{1,279)|(2,693)||4,878|
|Sub total Legacies Fund|8,850||(1,279)|(2,693)||4,878|
|**Organ Fund**|1,250||(807)|||443|
|Sub total Organ Fund|1,250||(807)|||443|
|**Special Events Fund**|39|||||39|
|Sub tot a I Specia I Events Fund|39|||||39|
|**Total Designated Funds**|**430,171**|**32,265**|**{66,284}**|**(2,693}**|**7,316**|**400,775**|
|**Restricted Funds**|||||||
|Special Collections fund||10,975|(13,538)|2,743||180|
|Sub total Special Collections Fund||10,975|(13,538)|2,743||180|
|Choir Fund|808|200|(164)|||844|
|Sub total Choir Fund|808|200|(164)|||844|
|**Total Restricted Funds**|**808**|**11,175**|**{13,702}**|**2,743**||**1,024**|
|**TOTAL -ALL FUNDS**|**510,542**|**162,774**|**{222,934}**|**0**|**7,316**|**457,698**|
Page 16 of 17
Lion Walk URC Charity Accounts
Examined and Signed
Accounts for year ending 31[st ] December 2024
Lion Walk United Reformed Church Charity
## **LION WALK URC - NOTES TO THE ACCOUNTS VEAR ENDED 31 DECEMBER 2024**
## **NOTE 11: GOOD CAUSES SUPPORTED WITH DONATIONS**
|**Organisation**||**Donation**|**Donation**|
|---|---|---|---|
|||£|£|
|**Organisations across the UK**||||
|Beacon House|||500|
|Centre for action on rape and abuse|||500|
|Christian Aid|r||713|
|Christian Aid Middle East Crisis Appeal|||200|
|Doctors Without Borders|||200|
|Felstead Aid for Deprived Children|||200|
|Friends of St. Joseph School|||200|
|Green Christian|||400|
|Gurkha Welfare Trust|||200|
|Lepra|||200|
|Marie Curie|||200|
|Mary's Meals|||200|
|Practical Action|||200|
|Re-Cycle|||200|
|The Winnie Mabaso Foundation|||200|
|Tree Aid|||200|
|The Catherine Bullen Foundation|||200|
|URC Trust (Appeal for Presbyterian Church in Myamar)|||200|
|**Total donations to UK based organsations**||**4,913**||
|**Organisations in Colchester**||||
|Little Lions (Lion Walk Church Toddler Group)|||65|
|The Next Chapter (Colchester Night Shelter)|||500|
|Open Road Visions (Colchester SOS Bus)|||400|
|**Totals donations to Colchester based organisations**|||**965**|
|**Commitment for Life Donation**||||
|Commitment for Life||8,025||
|Total Commitment for Life donation||**8,025**||
|**TOTAL DONATIONS**||**13,903**||
Page 17 of 17
Lion Walk URC Charity Accounts
Examined and Signed