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2024-12-31-accounts

CHARITY REGISTRATION NUMBER: 1133488

Memorial Community Church Unaudited Financial Statements

31 December 2024

JONES & GRAHAM ACCOUNTANTS LTD

Chartered Certified Accountants 6 Hall Square DENBIGH Denbighshire LL16 3NU

Memorial Community Church

Financial Statements

Year ended 31 December 2024

Page
Deacons' annual report 1
Independent examiner's report to the deacons 6
Statement of financial activities 7
Statement of financial position 8
Notes to the financial statements 9

Memorial Community Church

Deacons' Annual Report

Year ended 31 December 2024

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2024.

Reference and administrative details

Registered charity name Memorial Community Church Charity registration number 1133488 Principal office 395 Barking Road Plainstow London E13 8AL The trustees Rev Andrew Allcock Hilary Colston Lydia Yeboah Clive Furness (Resigned 6 October 2024) Deborah Sewell Brian Dexter Shola Ajose Jeremy Clewett Daniel Fitter Rose Small Val Donnolly Seye Oyawoye C hurch secretary Seye Oyawoye Independent examiner Jones & Graham Accountants Ltd 6 Hall Square DENBIGH Denbighshire LL16 3NU

1

Memorial Community Church

Deacons' Annual Report (continued)

Year ended 31 December 2024

Structure, governance and management

The church is part of the Baptist denomination of churches in the UK. Rev Andrew Allcock has continued as the minister for Memorial Community Church. The church leadership consists of elders and deacons. The deacons serve as Church trustees. There were monthly elders and deacons' meetings as well as regular church meetings throughout the year where the mission's activities were deliberated upon. There was also the Church AGM on the 6th of October 2024 which also coincided with the Church harvest.

The deacons who served during the year and up to the date of signature of the financial statements were:

Rev Andrew Allcock Hilary Colston Lydia Yeboah Clive Furness Deborah Sewell Brian Dexter Shola Ajose Jeremy Clewett Daniel Fitter Rose Small Val Donnolly Seye Oyawoye

The deacons are appointed by the members of the church in general meeting.

The day-to-day running of the church is dealt with by the minister, elders and deacons.

Objectives and activities

The church's objects are to proclaim the Christian faith and to serve the local community through its work and witness. The policies adopted in furtherance of these objects are the running of the various activities of the church.

The deacons have paid due regard to guidance issued by the Charity Commission in deciding what activities the church should undertake.

Charity works continued, including Bridges, Alternatives, Our Community Cares, Survivor Together, New Way, Food Bank, etc. There were regular tithes to other charities: We gave annual tithes to two charities as nominated by Church members meeting: 1) a local UK charity, and 2) an international charity. A Flood Appeal for £250 was raised and sent to the Presbyterian Church of East Africa (PCEA).

2

Memorial Community Church

Deacons' Annual Report (continued)

Year ended 31 December 2024

Achievements and performance

Memorial Community Church has continued to hold regular services and to seek to serve the local neighbourhood throughout 2024.

We are still continuing with hybrid worship services, in person and on Zoom. On the first Sunday of each month at 6.30pm there is an additional communion service, in person. Custom House Baptist Church continued to worship with us, while their building was being renovated. Services were shared with them and their contributions were appreciated.

STAFF

The church buildings manager continues to manage our buildings. Also, we retain a cleaner working with the building manager to ensure the environments are kept clean, especially in light of increasing rentals of our buildings.

The finance officer was initially working for 4 hours per week but this has since been increased to 5 hours during 2024. The church complies with all relevant national guidance in terms of wages, allowances and leave entitlements, including the London Living wage (LLW).

BUILDINGS

Work continued according to the maintenance schedule established for the two buildings. However, over the past year, with the help of grants received, we have resolved the problem of water leakages in the east side of the Sanctuary's gallery and repainted the walls. During the year, there have been improvements to the heating systems for the Church and the Swift Centre, as well as maintenance on the roofs, and gutters. Work also began on the restoration of the organ which celebrated its centenary in in 2024. Our organ has now been significantly restored.

In September 2024, the Church building celebrated its centenary. 'It's a Hundred' was marked by an exhibition of the life of the church from 1867, and a service of Thanksgiving was held during which the organ was played by various organists.

The Buildings Manager, and our Church Minister have taken a hands-on approach to maintenance. Professionals are obviously contracted to undertake major and specialised repairs. With a donation of about £16,000 from a group of church members who expressed a preference that the money be spent on mini-projects, various repairs were accomplished in the Sanctuary, including repair of damaged wall plasters and then the painting of gallery walls.

RADIATOR SCHEME:

'Sponsor a radiator' scheme during the year helped to replace very old radiators in order to improve heating efficiency in the Sanctuary. We replaced failing domestic style radiators installed since the 1970s. This was accomplished with generous donations of about £3,000 from church members.

CHURCH LEADERSHIP CHANGES:

We have had several staff and church officer changes. Hilary Colston stepped down as church secretary, and thanks were given for her input. Julia Dexter also stepped down as an elder during the year. Seye Oyawoye has resigned as an elder to take on the Church Secretary role, while Clive Furness stepped down as a deacon.

Richard Hopper also retired as our Church Independent Examiner as we sought to appoint another. Emyr Jones was appointed in December 2024.

3

Memorial Community Church

Deacons' Annual Report (continued)

Year ended 31 December 2024

SPECIAL EVENTS IN THE YEAR:

Requests for Baptism - Sarah Nasso and Perry Mokoro requested baptism and were baptised during the year.

Spring Market - The Church had its annual Spring Market on 11 May 2024 which went very well.

Organ Centenary Events - There were two events on 22nd June and 16th July to raise fund for church organ repairs and to generally celebrate the centenary. Daniel, the organ builder, brought information and artefacts relating to Dame Clara Butt and there were three organists available. There were donations via a JustGiving account which automatically generated additional gift aid. Tickets of £10 and £15 were available via Eventbrite ahead of the events. It was well attended and had raised nearly £600 in in ticket sales alone. More monies came from sales of merchandise. The events raised about £8000.

TOWER GALLERY:

The East tower continued to host exhibition which were really successful. The space had been provided for exhibition mostly without rental. The gallery usually helped to increase the footfall in our church, especially those who were not regular worshippers.

VOTING FOR CHURCH SECRETARY AND DEACONS:

The following were elected: Seye Oyawoye - Secretary; Hilary Colston, Deacon; Daniel Fitter, Deacon; Rose Small, Deacon; Val Donnolly, Deacon. The post of church secretary will be shared between Seye Oyawoye and Jerry Clewett, with Seye as the nominated secretary. Seye and Jerry agreed to share secretarial roles, with Seye as the named secretary. This meant that Seye had to step down as a Church elder. Shola Ajose continued as the treasurer.

DEACONS AND ELDERS AWAY DAY - 12TH OCTOBER:

Church leaders training day held on October 12th. The general feeling was that the day had been positive and one takeaway from the day was that perhaps there should be more spiritual content in church meetings.

NIGHT SHELTER:

The annual night shelter for our Church ran from mid-October for 10 weeks, coordinated by Brian Dexter. The feedback was that the programme went well with contribution from Memorial Community Church and neighbouring churches.

CHRISTMAS FESTIVITIES/SERVICES:

The Christmas Market on Saturday, 23rd November 2024, was jointly held with our Plaistow Chistian Fellowship (PCF) neighbours. We also held the following services; - PCF Cornerstone Carol service on 14th December - MCC Carol service and Christingle 22nd December

4

Memorial Community Church

Deacons' Annual Report (continued)

Year ended 31 December 2024

Financial review

The financial transactions of the church during the year and the financial position at the end of the year are summarised in the attached accounts.

It is the policy of the church that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The deacons considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the church’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. Should the level of these reserves fall below the recommended level for a sustained period then the church could augment these reserves by disposal of its investment properties. Accordingly the deacons consider the financial position for 2024 and subsequently to be challenging but satisfactory recognizing that the church has underlying fixed assets which could be realized to meet cashflow requirements if necessary.

The deacons have assessed the major risks to which the church is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

21/10/2025 The deacons' annual report was approved on .............................. and signed on behalf of the board of trustees by:

Seye Oyawoye Church Secretary

5

Memorial Community Church

Independent Examiner's Report to the Deacons

Year ended 31 December 2024

I report to the trustees on my examination of the financial statements of Memorial Community Church ('the charity') for the year ended 31 December 2024.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Jones & Graham Accountants Ltd Independent Examiner

6 Hall Square DENBIGH Denbighshire LL16 3NU

22/10/2025

6

Memorial Community Church

Statement of Financial Activities

Year ended 31 December 2024

2024 2023
Unrestricted Restricted
funds funds Total funds Total funds
Note £ £ £ £
Income and endowments
Donations and legacies 4 88,936 – 88,936 125,204
Charitable activities 5 132,027 – 132,027 84,794
Investment income 6 16,133 – 16,133 13,752
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
Total income 237,096 – 237,096 223,750
৶৶৶৶৶৶৶৶৶ ৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶
Expenditure
Expenditure on charitable activities 7,8 187,012 – 187,012 187,954
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
Total expenditure 187,012 – 187,012 187,954
৶৶৶৶৶৶৶৶৶ ৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
Net income and net movement in funds 50,084 – 50,084 35,796
৶৶৶৶৶৶৶৶৶ ৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶
Reconciliation of funds
Total funds brought forward 3,318,449 8,750 3,327,199 3,291,403
ৄৄৄৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄৄৄৄ
Total funds carried forward 3,368,533 8,750 3,377,283 3,327,199
৶৶৶৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶৶৶৶

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 9 to 18 form part of these financial statements.

7

Memorial Community Church

Statement of Financial Position

31 December 2024

2024 2023
Note £ £
Fixed assets
Tangible fixed assets 14 2,475,511 2,482,939
Investments 15 850,000 850,000
ৄৄৄৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄৄৄৄ
3,325,511 3,332,939
Current assets
Debtors 16 65,036 52,007
Cash at bank and in hand 90,781 70,111
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
155,817 122,118
Creditors: amounts falling due within one year 17 21,895 32,458
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
Net current assets 133,922 89,660
ৄৄৄৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄৄৄৄ
Total assets less current liabilities 3,459,433 3,422,599
Creditors: amounts falling due after more than one year 18 82,150 95,400
ৄৄৄৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄৄৄৄ
Net assets 3,377,283 3,327,199
৶৶৶৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶৶৶৶
Funds of the charity
Restricted funds 8,750 8,750
Unrestricted funds:
Revaluation reserve 633,125 633,125
Other unrestricted income funds 2,735,408 2,685,324
ৄৄৄৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄৄৄৄ
Total unrestricted funds 3,368,533 3,318,449
ৄৄৄৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄৄৄৄ
Total charity funds 20 3,377,283
৶৶৶৶৶৶৶৶৶৶৶৶		 3,327,199
৶৶৶৶৶৶৶৶৶৶৶৶

These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:21/10/2025

Shola Ajose Trustee

Seye Oyawoye Trustee

The notes on pages 9 to 18 form part of these financial statements.

8

Memorial Community Church

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 395 Barking Road, Plaistow, London, E13 8AL.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

9

Memorial Community Church

Notes to the Financial Statements (continued)

Year ended 31 December 2024

3. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

10

Notes to the Financial Statements (continued)

Memorial Community Church

Year ended 31 December 2024

3. Accounting policies (continued)

Tangible assets (continued)

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold improvements - 0% p.a. Fixtures, fittings and equipment - 5% - 25% p.a. on cost

Investments

Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.

Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

11

Notes to the Financial Statements (continued)

Memorial Community Church

Year ended 31 December 2024

3. Accounting policies (continued)

Financial instruments

The church has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the church's balance sheet when the church becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

4. Donations and legacies

Unrestricted Restricted Total Funds
Funds Funds 2024
£ £ £
Donations
Donations and gifts 88,114 – 88,114
Legacies
Legacies received 822 – 822
ৄৄৄৄৄৄৄৄ ৄৄৄৄ ৄৄৄৄৄৄৄৄ
88,936 – 88,936
৶৶৶৶৶৶৶৶ ৶৶৶৶ ৶৶৶৶৶৶৶৶
Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Donations
Donations and gifts 77,424 1,599 79,023
Legacies
Legacies received 46,181 – 46,181
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
123,605 1,599 125,204
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶

12

Memorial Community Church

Notes to the Financial Statements (continued)

Year ended 31 December 2024

5. Charitable activities

Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Charitable rental income 127,941 127,941 84,794 84,794
Activity income 435 435 – –
Other income 3,651 3,651 – –
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
132,027 132,027 84,794 84,794
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶

6. Investment income

Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Interest receivable 863 863 636 636
Commercial rental income 15,270 15,270 13,116 13,116
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
16,133 16,133 13,752 13,752
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶

7. Expenditure on charitable activities by fund type

Unrestricted Restricted Total Funds
Funds Funds 2024
£ £ £
Church activities 46,468 – 46,468
Support costs 140,544 – 140,544
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
187,012 – 187,012
৶৶৶৶৶৶৶৶৶ ৶৶৶৶ ৶৶৶৶৶৶৶৶৶
Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Church activities 42,660 165 42,825
Support costs 143,863 1,266 145,129
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
186,523 1,431 187,954
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶

8. Expenditure on charitable activities by activity type

Activities
undertaken Grant funding Total funds Total fund
directly of activities Support costs 2024 2023
£ £ £ £ £
Church activities 41,522 4,946 138,795 185,263 186,757
Governance costs – – 1,749 1,749 1,197
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
41,522 4,946 140,544 187,012 187,954
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶

13

Memorial Community Church

Notes to the Financial Statements (continued)

Year ended 31 December 2024

9. Analysis of support costs

Church
activities Total 2024 Total 2023
£ £ £
Staff costs 32,089 32,089 30,286
Premises 93,553 93,553 101,432
General office 5,441 5,441 4,388
Governance costs 1,750 1,750 1,200
Depreciation 7,712 7,712 7,825
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
140,545 140,545 145,131
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶
10. Net income
Net income is stated after charging/(crediting):
2024 2023
£ £
Depreciation of tangible fixed assets 7,712 7,824
৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶
11. Independent examination fees
2024 2023
£ £
Fees payable to the independent examiner for:
Independent examination of the financial statements 1,750 1,200
৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶
12. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
2024 2023
£ £
Wages and salaries 64,832 59,665
Employer contributions to pension plans 4,684 4,277
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
69,516 63,942
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶

The average head count of employees during the year was Nil (2023: Nil). The average number of full-time equivalent employees during the year is analysed as follows:

2024 2023
No. No.
Church activities 2 2
Premises 1 1
ৄৄৄৄ ৄৄৄৄ
3 3
৶৶৶৶ ৶৶৶৶

No employee received employee benefits of more than £60,000 during the year (2023: Nil).

14

Notes to the Financial Statements (continued)

Memorial Community Church

Year ended 31 December 2024

13. Trustee remuneration and expenses

During the year, one of the trustees, Daniel Fitter, was employed in a full-time capacity by the Church as its Buildings Manager. Total remuneration and benefits (including employer's National Insurance and pension contributions) amounted to £29,832.45. This arrangement was permitted by the Church's meeting and included in its constitution.

In addition, the Church engaged Josh R. Fitter, a relation of the same named trustee above, to carry out repair works to the Church building. Payments for all works in the year totalled £520.00 and were made on normal commercial terms.

Apart from these, no other trustee received any remuneration or other benefits from the Church, nor did any other connected person have any other disclosable transactions with the Church during the year.

14. Tangible fixed assets

Long
Freehold leasehold Fixtures and
property property fittings Total
£ £ £ £
Cost
At 1 Jan 2024 2,413,000 71,679 60,139 2,544,818
Additions – – 284 284
ৄৄৄৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄৄৄৄ
At 31 Dec 2024 2,413,000 71,679 60,423 2,545,102
৶৶৶৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶৶৶৶
Depreciation
At 1 Jan 2024 – 37,210 24,669 61,879
Charge for the year – 6,510 1,202 7,712
ৄৄৄৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄৄৄৄ
At 31 Dec 2024 – 43,720 25,871 69,591
৶৶৶৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶৶৶৶
Carrying amount
At 31 Dec 2024 2,413,000 27,959 34,552 2,475,511
৶৶৶৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶৶৶৶
At 31 Dec 2023 2,413,000 34,469 35,470 2,482,939
৶৶৶৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶৶৶৶

15

Memorial Community Church

Notes to the Financial Statements (continued)

Year ended 31 December 2024

15. Investments

Investment
property
£
Cost or valuation
At 1 Jan 2024 850,000
Additions –
ৄৄৄৄৄৄৄৄৄ
At 31 Dec 2024 850,000
৶৶৶৶৶৶৶৶৶
Impairment
At 1 Jan 2024 and 31 Dec 2024 –
৶৶৶৶৶৶৶৶৶
Carrying amount
At 31 Dec 2024 850,000
৶৶৶৶৶৶৶৶৶
At 31 Dec 2023 850,000
৶৶৶৶৶৶৶৶৶

All investments shown above are held at valuation.

Investment properties comprise two private dwelling houses located not far from the church. The valuations were made by the trustees on an open market value basis by reference to market evidence of transaction prices for similar properties in the same street, indexed according to the government house prices indices for London, and with reference to a local estate agent.

16. Debtors

2024 2023
£ £
Trade debtors 20,841 15,255
Prepayments and accrued income 1,207 1,887
Other debtors 42,988 34,865
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
65,036 52,007
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶
17. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 10,600 10,600
Trade creditors 6,938 1,513
Accruals and deferred income 1,750 19,874
Social security and other taxes – 360
Other creditors 2,607 111
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
21,895 32,458
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶
18. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 82,150 95,400
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶

16

Memorial Community Church

Notes to the Financial Statements (continued)

Year ended 31 December 2024

19. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £4,684 (2023: £4,277).

20. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
At
At 1 Jan 2024 Income Expenditure Transfers 31 Dec 2024
£ £ £ £ £
General funds 2,586,657 237,096 (184,379) – 2,639,374
Building repairs fund 96,034 – – – 96,034
Tithe donations fund 2,633 – (2,633) – –
Revaluation reserve 633,125 – – – 633,125
ৄৄৄৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄ ৄৄৄৄৄৄৄৄৄৄৄৄ
3,318,449 237,096 (187,012) – 3,368,533
৶৶৶৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶ ৶৶৶৶৶৶৶৶৶৶৶৶
At
At 1 Jan 2023 Income Expenditure Transfers 31 Dec 2023
£ £ £ £ £
General funds 2,551,346 217,533 (182,222) – 2,586,657
Building repairs fund 96,034 – – – 96,034
Tithe donations fund 2,316 4,618 (4,301) – 2,633
Revaluation reserve 633,125 – – – 633,125
ৄৄৄৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄ ৄৄৄৄৄৄৄৄৄৄৄৄ
3,282,821 222,151 (186,523) – 3,318,449
৶৶৶৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶ ৶৶৶৶ ৶৶৶৶৶৶৶৶৶৶৶৶
Restricted funds
At
At 1 Jan 2024 Income Expenditure Transfers 31 Dec 2024
£ £ £ £ £
East Tower fund 191 – – – 191
Hardship relief 1,138 – – – 1,138
Other restricted funds 7,421 – – – 7,421
ৄৄৄৄৄৄৄ ৄৄৄৄ ৄৄৄৄ ৄৄৄৄ ৄৄৄৄৄৄৄ
8,750 – – – 8,750
৶৶৶৶৶৶৶ ৶৶৶৶ ৶৶৶৶ ৶৶৶৶ ৶৶৶৶৶৶৶
At
At 1 Jan 2023 Income Expenditure Transfers 31 Dec 2023
£ £ £ £ £
East Tower fund 367 – (66) (110) 191
Hardship relief 1,178 – (40) – 1,138
Other restricted funds 7,037 1,599 (1,325) 110 7,421
ৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄ ৄৄৄৄ ৄৄৄৄৄৄৄ
8,582
৶৶৶৶৶৶৶		 1,599
৶৶৶৶৶৶৶		 (1,431)
৶৶৶৶৶৶৶		 –
৶৶৶৶		 8,750
৶৶৶৶৶৶৶

17

Notes to the Financial Statements (continued)

Memorial Community Church

Year ended 31 December 2024

21. Analysis of net assets between funds

Unrestricted Restricted Total Funds
Funds Funds 2024
£ £ £
Tangible fixed assets 2,474,302 1,209 2,475,511
Investments 850,000 – 850,000
Current assets 126,381 7,541 133,922
Creditors greater than 1 year (82,150) – (82,150)
ৄৄৄৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄৄৄৄ
Net assets 3,368,533 8,750 3,377,283
৶৶৶৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶৶৶৶
Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Tangible fixed assets 2,481,730 1,209 2,482,939
Investments 850,000 – 850,000
Current assets 82,119 7,541 89,660
Creditors greater than 1 year (95,400) – (95,400)
ৄৄৄৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄৄৄৄ
Net assets 3,318,449 8,750 3,327,199
৶৶৶৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶৶৶৶

22. Financial instruments

The church has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the church's balance sheet when the church becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

18

Memorial Community Church 2024

Final Audit Report

2025-10-22

Created: 2025-10-21 By: Emyr Jones (office@jonesandgraham.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAyYA56_NqqqLx9b-zydiNHdZzc3w5T_bP

"Memorial Community Church 2024" History

2025-10-21 - 2:15:50 PM GMT

Document emailed to Shola Ajose (treasurer@memorialcc.org) for signature 2025-10-21 - 2:15:55 PM GMT

Document emailed to Seye Oyawoye (secretary@memorialcc.org.uk) for signature 2025-10-21 - 2:15:55 PM GMT

Document emailed to Emyr Jones (emyr.jones@jonesandgraham.co.uk) for signature 2025-10-21 - 2:15:56 PM GMT

2025-10-21 - 2:27:44 PM GMT

Signature Date: 2025-10-21 - 5:57:29 PM GMT - Time Source: server

2025-10-22 - 7:55:06 AM GMT

Signature Date: 2025-10-22 - 7:56:05 AM GMT - Time Source: server- Signature captured from device with phone number XXXXXXXX6113

Agreement completed.

2025-10-22 - 7:56:05 AM GMT