Charity registration number: 1132914 Hebron Church Carlisle Annual Report and Financial Siatmenls for the Ycar F.ndcd 31 MÉirch 2024 Hebron Church Carlisle Contents (continued) Reference and Administiative Details Tru5tees' Report Stat¢ment of Trust¢C5' RcsponsibilitlC5 Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statwnents 7t014 Hebron Church Carlisle Reference and Administrative Details Chairnian Nlr Pliilip lan Halliwell Trustees Mr Glyn Luca5 Mr Philip lan l-lalliwell Victoria Tagerud Mr Hom'ard Ne￿tOn Senior Management / Leadership fvlr Gordon Younger. Treasurer Team Ir Rob Scolt-Buccleu¢h, Treasurer Mr Paul Youngtrer. Treasurer Charity Registration Number 11.32914 Principal Office 98 Bolcliergale Carli51¢ CAI ISN Independent Lxaminer CJRC Accountanls Limtled 166 Buardiiig) Ilie asself ol. the charity and lieiice lor lakin8 r¢'¢isonablL StL'PS for thL' preveilrion aiid delLction of traiid and other irrL'&iuldrilies. 'I'IIL trusfL'L'S ¢ifL' rL5poiisiblL fc)r tlic, IllrflllltLiiaiicc and iiilegrity ut il)L' LorporalL 4iiid tiiiaiiLldl iiiforniiili()n iiicILided ()ii Ihe Lharilahle Li)ii)i)aiiy's weli%ile. Leg)i%Siilic)n gyoverniiig> the prepai'atinii and dissen)inalion ol. tlll arL' rcL'ogniscd once thc dividcnd has bcen declarcd and notification has been received of the dividLnd due. Tr.xpendl¢ure All expenditure is reco¥nised once payment has been made, All c051s are allocaled lo the applicable expendilure h¢ading that aggre&iate similar costs 10 that category. Wher¢ co.sts cannot be direcily attributed to particular hLiidiJ]g% IIILY huv¥ bLLn allDcdt¢d on a basi5 Lunsistcnt with thc USL uf rcsourL¢¥, Wlth L¢niral staff costs allocaicd on ihc basis of time spent, and dcprcciation chargcs allocatcd on thc portion of thc assct's usc. Other support costs arc allocaied b￿cd on the sprcad of staff costs. Charitable aclivities Charitable expenditure comprises those cosls incu￿ed by the Charity in the delivery of 118 activitieq and services for its beneficiaries. It includes both cosis that can be allocated directly to such activitie5 and tho.se costs of an indir¢rt nature necessary lo support Ihem. Support costs SLlPPVrt cosls. includc central function5 and havc been alloLAted to activity cost catcgories on a basis consislenl with the usc of resourccs. for exampl¢, allocating property ¢081s by floor areas. or per capita. staff cosis bN' the time spent and other costs by their usage. Page 7 Hebron Church Carlisle Notes to the Financial Statements for the Year Ended 31 March 2024 {continued) Taxation The charity is considered to pass the tests set out in Pardgraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a ¥harilable Gompany for UK corporation Lax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gain5 received within categories covcrcd by Chapter 3 Part I l of th¢ Corporation Tax Act 2010 or Scction 256 of thc Taxation of Chargeablc CJains Act 1992, to the extent that su¢h income or gains are applied exclusively to charitable purposes. Cash and cash equivalent5 Cdsh and cash equivalenls comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convenible to a known amount of cash and are subject lo an insignificant risk of change in value. Trade creditors Trade creditors are obligations lo pay for goods or servic¢.s that have been acquired in the ordinary course of business from Suppliers. Accounts payable are classified as current liabilities if the Trusi does not have an uncondiriondl right. at the end of the reporting period. to defer settlement of the creditor for at least ttvelve months after the reporting date. If there is an unconditional right to defer settlement for at le￿1 twelve months after the reporting date, they are presented as non-curreni liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest meihod. Borrowings Intere5t-bearing borrowings are initially recorded at fair value. nei of trans8CTion costs. Interest-bearing bo￿owingS are subsequently carried at amortised cost, with the difference between the proceeds. net of transaction costs. and the amount due on rLdLmplion being recognised as a ch3r¥e lo the Statement of Financial Activities over (he period of the relevant borrowing. Interest expense is r¢¢ognT5ed on the basis of th¢ ¢ffective interest method and is included in inteTest payable and similar charge5. Bo￿OWingS are classified as current liabilities unless the charity has an unconditional right to d¢fer settlement of the liability for at least twelve months after the rcporting date. Fund structure Uitrestricled income fun(Ls are general fun(L8 that are available for use at the Irustees discretion in furtherance of th¢ objectives of the charity. Financial instrumenls Classificafton Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisionb of the instnjment. Financial liabiliti¢s and equity instrnments are classificd according EO the substance of the Contractual arrangemcnts cntcrLd into. An equity instrument is any contraci that evidences a residual interest in the as5els of the charity aft¢r deducling all of il.8 liabilities. Page 8 Hebron Church Carlisle Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) Recognition and meosuremenl All financial assets and liabililies are inltially measured al transaction price (including Iransaelion costs). except for those financial assct5 classified as at fair value through profit or lo&s. which arc inili¢illy measured ai fair valuc (which is nornially Ihc transaction price cxcluding iransaciion costs), unless the arrangcmcnt con8liluies a financing transaction. If an arrangement constitu*s a financing Iransaction, the financial asset or financial liabilily is mcasured al the prcsent valuc of thc futurc payments discounted at a markcl ratc of inleresi for a similar debt instrument. Financial assets and liabilities are only offs¢l in the slaicmcnl of financial position when, and only when there exists a legally enforceable right to set off th¢ recognised amounts and the charity intends eiiher to settle on nel basis, vr l(} retilise the usb¢l and seiile the liability simultaneously. Fin￿nLial a.4scls arc dcrccognis¢d whcn and only when 8) thc contractual rigThis to the Latsh fli)ws frum the rinaiicial asset expire or arL' s¢ttled, b) the charity Ir&n%fer8 lo anoiher party subslanlially all of the risks and rewards of ownership of the financial asset, or c) Ihe charity, despite having retained some, but not all, si¥nificanl risks and rewards of owncrship, hay Iransfcrrcd control of the a88¢1 to unothcr party. FinanLial liabililics are dcrcco8ni5cd only whcn thc obligation specificd in th¢ ¢ontract 15 discharged, cancellcd or expire8. Page 9 Hebron Church Carlisle Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) Debt instruments Debi instruments which meel the following conditions are subsequently measured at amortised cost using the etlective interest method.. (a) The contractual return to the holder is (i) 4 fixed arnount: (li) a positive fixed rate or a positive variabl¢ rate; or (iii) a combination of a pot*ilive or a ncgative fixcd rdte and a positive variablc rate. (b) The contrdct may provide for repayments of the principal or the return lo the holder (bul not both) to be linkcd 10 a single rclevant ob8crvable index of general price inflation of the currency in which the debt in5trunJent is denominated. provided such links are nvt leveraged. (c) The conirnct Tnay provide for a deterniinable variation of the return to the holder during the life of the in.4lrumeni, provided Ihul {1) the new ralc satisfics Londiiion (a) and Ihc variation is noi Lonlingent un future evcnL8 oiher than I l ) a change of a contractual variable rale: {2) lo protcci the holder againsl credil deterioration of the issuer; (3) changes in levies applicd by a central bank or ari%ing from changes in relevant laxalion or Idw,. or {ii} thc ncw rat¢ is a market rate of intcrcsl 4ind satisfi¢s condition (d). {dl Thcr¢ is no contractual provision Ihat could. by its Icnns. result in thc holdLr losing thc principal amount or any inlerest attributsble to the cU￿ent period nr prior periods. (c) Conlraclual provisions that permit the iSSLier lo prepay a debi inslrumL'nl or pcnnil the holder to pul il back lo the istsuer before maturity are noi contingent on fulure events. other than 10 protect the holder again.st the credit dctcrioration vf the issuer or a change in Control of the issucr. or lo prolc¥t the holder or issuer against changes in levies applied by a central bank or arising from changcs in rclcvanl taxation or law. (O Contraclual provisions may perniil Ihe exiension of Ihe lerni of Ihe debt inslrumenl, provided that ihe retum lo the holder and any other conlraclual provisions applicable during Ihe extended iemi satisfy the conditions of parabyraphs (a) lo {¥). Dcbi instrumcnts ihat arc Ll&s%ificd as payable or re¢civablc within onL' year on initial recognltion and whi¢h nieet Ihc above uondition4 are IncJsured ai ihe undiscounied amounl of the La.sh or other con8ideraiion expected to be paid or received, nel of impaiment. With th¢ cxccption of some hcdging instrumenLs. oihcr dcbi instruments not meeting these conditions are meuburcd at fair value through profil or loss, Commitments to make and receive loans which meet Ihe condition5 mentioned above are measured at cost {whiLh may be nil) 1¢ss impaiment. Inv¢&lmenls Investments in non-convertible p￿ ference shares and non-pultable ordinary or preference sbares (where shares arL' publicly traded or their fair value is reliably rneasurable) arL mLasured al fair valuL' throu81i profit or loss. Whcrc tair valuc cannot be measured reliably, investrnents are measured at cosl less impainneni. nve5tmcnts in Sltbsidiaries and associates are mcasu￿d at ¢05t less impaiment. For investments in 5ub.sidiarie.8 acquired for consideration including the issue of share5 qualifying for merger reltef, cost is mea.sured by referenre lo th¢ nominal value of Ih¢ shares issued plus fair value of other consideration. Any premium 15 ignorcd. Pag¢ 10 Hebron Church Carlisle Notes to the Financi81 Statements for the Year Ended 31 March 2024 (continued) Derivativefinancial inslrumenls The charity use5 derivative financial in8lNment5 to reduce exposure lo lorcign exchange risk and interest rate movements. The charity do¢s not hold or issue derivative finan¥ial instruments for speLulative purposes. Derivatives are initially recognised al fair value ai the date a derivalive contract is enter¢d inio and are subsLqucnily rcmoasiircd lo thL'ir fair valuc al caLh rLPOrting dJtc. Thc rcsuliing g¥ain or Ioss is recogynised in stalemcnt of financial activities immediately unless the derivative is designated and effective as a hedging instrument. in which event th¢ timing of the recognition in stalernent of financial activities depends on the nature of the hedge relaiionship. Fair valme mewurement The best evidcnce of fair value is a quoted price for an identical asset in an active m8rk¢t. When quoted prices arc unaviiilablc. Ili¢ PriLe uf a rccenl Iran.%aLtion for an id¢nli¢dl as%ct providc4 cvidcnce of fair value as long as there ha% noi been a significant change in economic circumstances or a significanl lapse of time since the trdn.%aLlion look plJLc. If ihe market nut dCtivL and rLLcnt tran5dLti()ns of an idLnliLal as￿*￿t on thLir drc nut a good estimatc ot.fair value, th¢ fair value is eslimaled by using a valuation technique. 2 Income from donotAons and legacles Unrestricted ds GenL'ral Total funds Donaiions und legacies; Donation.4 from individuals Gift did reclaimed 156.130 24,078 156,130 24,078 TotAI for 2024 180,208 180.208 Tolal for 202.1 166,231 166,231 3 Investment Income Unrestricted funds General Total funds Inlcrcst wc¢ivabl¢ and Similar incomc. Interest rcceivablc on bank dcposits Total for 2024 1,149 1,149 1,149 1,149 To141 for 2023 191 191 Pagell Hebron Churcb Carlisle Notes to the Financlal Statements for the Year Ended 31 March 2024 (continued) 4 Expendlture on charltable actlvltles Unrestricted funds General Total funds Note Allocated support costs 185,001 185,001 TotAI for 2023 178,224 178,224 Grant funding of actlvlty Actlvlty support costs Total expendlture Church Lunches & Refreshments Gross Wages & salaries Cliur¢h Gcneral Expenses Rent and Insurance payable I.ight and heat Premisey repairtb and renewa15 Lhildren8 and Youih Work Stationery. PostagL and Tel¢phone Visiting Speakers Gitls lo Missionaries and Organisalions Total for 2024 6.934 77.359 27.705 5,580 8,845 31.382 1,472 4,143 6,934 77.359 27,705 5,580 8.845 31,382 1.472 4.143 1,150 20,430 20.430 20,430 164,570 185,000 TotAI for 202J 20.706 157.518 178,224 5 Trustees remunerldon and expense$ No Irusie¢%. nor any persons connected with them, have received any ￿MUneratIon from the charity during the ycar. No I￿Stee5 hav¢ received any reimbursed expenses or any other benefits from the charily during the year. Page 12 Hebron Church Carlisle Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) 6 Taxation The charity is a registered charity and is therefore exempt from taxation. 7 Cash and cash equivalents 2024 2023 Cash al bank 100.677 105,035 8 Creditors: amounts fYdlllnE due WRthin one year 2024 2023 Tradc creditors 826 1.540 9 Funds Balance at I April 2023 Incoming resources Resources expended Balanee at 31 March 2024 Unrestricted funds General 103.495 181,357 (185.001 99,851 Balance at I Aprll 2022 Incoming resources Resources expended B814nce at 31 March 2023 Unrestrlcted funds General 115,297 166,422 (178,224 103,495 10 Analysis of net assets between funds Unrestricted funds General Total funds at 31 March 2024 Current assets Current liabilitie5 100,677 (826 100,677 (826) Total net assets 99.851 99.851 Page 13 Hebron Church Carlisle Notes to the Financial Statements for the Year Ended 31 March 2024 (Continued) Unrestricted funds General Total fund$ at 31 March 2023 Current assets Current liabililies 105.035 (1,540) 105,035 (1,540) Total net assets 103.495 103,495 Page 14