TRINITY @BIRMINGHAM ANNUAL AND FINANCIAL STATEMENTS YEAR ENDED 31ST MARCH 2024 XJ Connect Church UK Trinity@Birmingham ISO Coventry Road, Small Heath, BIO OSE 0121766 7600 Registered Charity no. II33824 Company No. 07003576
CONNECT CHURCH UK Year Ended 31st March 2024 Contents Page Page Legal and Administrative Information Trustees, Annual Report Statutory Auditors Report 14 Statement of Financial Activities 17 Statement of Financial Position 18 Statement of Cash Flows 19 Notes to the Financial Statements 20
CONNECT CHURCH UK Year Ended 31st March 2024 Legal and Administrative Information Reference Connect Church UK (CCUKI was founded by a small group of 'Brummies' during the 2nd World War in Sparkhill, Birmingham and is a part of the Assemblies of God denomination. CCUK become registered as incorporated charitable company in 2009 within England and Wales as a limited company by guarantee with charitable status. The other working names associated with CCUK are Trinity@Birmingham. CCUK is a welcoming, multiethnic church that spans the generations and is passionate in its worship and care for people. Our mission is to connect people into a world-transforming relationship with Jesus Christ. While the immediate focus is to minister to the community of Small Heath and the Eastside of Birmingham, the church also has a wider reach across the city and internationally. Registered Charity Numbers 1133824 Registered Company Number 07003576 Reglstered Office 150 Coventry Road Small Heath Birmingham West Midlands England B10 OSE Website w.trinit unitedkin dom.or Trustees Pastor Kirk Mcatear Pastor Allen Loh Pastof Gerald Tan Joycelyn Edwards Valerie Danelczyk Louison Ricketts Bradford Ricketts Paslor Simon Lakin Pastor Tracee Mcatear Pastor Dominic Yeo Chair of trustees Appointed 04/02r2024 Appointed 2Y06r2023 Compony Secretary Resigned 08/12r2023 Key Managment Personnel Pastor Kirk Mcatear Pastor Tracee Mc2tear Senior Minister Executive Minister
CONNECT CHURCH UK Year Ended 31st March 2024 Legal and Administrative Information Committee Members Management Team Tracee McAtear Valerie Danelczyk Matthew Hopley Yvette John Trustee Trustee Staff member Congregation Bankers Lloyds Bank, 9-11 Poplar Rd, Solihull B91 3AN. The Charity Bank Ltd, Fosse House, 182 High St, Tonbridge, Kent, TN9 1 BE. Big Issue Invest, 113-115 Fonthill Road, Finsbury Park, London N4 3HH. Statutory Auditor Stephen Lewis LMH Accountants Limited Old Bank Chambers 582 - 586 Kingsbury Road Erdington Birmingham B24 9ND Solicitor Anthony Collins 134 Edmund Street Birmingham B3 2ES
CONNEcf CHURCH UK Trustees. Annual Report (Including Directors, Report) for the year ended 31 March 2024 Objectives, Achievements and Performance Connect Church UK'S (CCUK) purposes as set out in the objects contained in the compan¢s memorandum of association are: {a) to advance the Christian faith in accordance with the Statement in such ways and in such parts of the United Kingdom or the world as the directors from time to time may think fit; Ibl to relieve sickness and financial hardship and to promote and preserve good health by the provision of funds, goods or services of any kind including through the provision of counselling and support in such parts of the United Kingdom or the world as the directors from time to time think fit; and Ic} to advance education in such ways and in such parts of the United Kingdom or the world as the directors from time to time may think fit.
CONNEcf CHURCH UK Trustees, Annual Report (Including Directors, Report) for the year ended 31 March 2024 WHAT WE DO- OVERVIEW All the activities and organisational structure of CCUK fit into the pattern: that we would connect with God in personal worship; that we would connect to a community of people in relationship and love; that we would connect to our purpose through servlng; which is all facilitated by effective, efficient, and ethical management. This pattern will be accomplished through providing the followin8 public benefits: Worshlp Regular public worship open to all. Each week we host a Sunday Celebration service, which is recorded and the message later posted on YouTube. Love People are encoura8ed to build relationships and biblical community through a variety of connect groups offered in locations across the city. Pastoral work includin8 SUPPOrtin8 the sick and bereaved facilitated by cler8V, Staff and lay members. Serve to support other charities in Birmin8ham in practical ways. to engage with our local community to encourage better relationships amongst our neighbours. to partner with similar churches/charities abroad to learn from and support their works. The flve goals that Connect Church UK set out to achieve in 2023/2024 were: I. MORPH into a new season ofWORSHIP 2. MORPH into a new season of LOVE 3. MORPH into a new season of SERVING 4. MORPH from friends into family as we become TRINirf@BIRMINGHAM 5. MORPH from mobile church into the NEW BUILDING
CONNEcfcHURCH UK Trustees, Annual Report (Including Directors, Report) for the year ended 31 March 2024 202312024: A YEAR IN REVIEW 2023/24 was a significant year of transformation and change for Connect Church UK as it became an Overseas Centre of Trinity Christian Centre Singapore and adopted the working name of Trinity@Birmingham. The theme for the year was METAMORPHOSIS that was outworked In 5 ways: MORPH Into a new season of WORSHIP This was the last year that the church held the weekly Celebration seNices in rented premises every Sunday. Each week, the setup and pack down, was made possible by a devoted team of staff and volunteers. We are incredibly grateful for their energy and dedication, week in and week out. On Sunday 24 September the church held the first service in the newly completed church building at 150 Coventry Road, Small Heath. After the Celebration services began in the new church building, Sunday attendance rose on average 80 to 125, an increase of 56%. These statistics do not include the 362 who attended the Building Dedication Service on 15 October, or the 240 who attended the Christmas Pantomime with Saltmine Theatre Company on 17 December. It has been a joy and step-up for the Worship, Technical, Hostin8, Carpark, Catering and Facilities teams to discover how to use the building to create a warm, welcoming environment and service where both the congregation and visitors can encounter God in worship, week to week, and in special celebrations including Christmas, Mother's Day and Easter. We havefelt very comfortable since attending in February, ond very often left church discussing and reflecting on the sermon.,
CONNEcfcHURCH UK Trustees, Annual Report (Including Directors, Report) for the year ended 31 March 2024 MORPH Into a new season of LOVE Trinity Christian Centre (TCC) has developed and refined a model and process of connecting and disciplin8 believers through Connect Groups, that has been effective in the church in Singapore, as well as many locations around the world where TCC have providing training and consultation to. CCUK began to rebuild the Connect Groups of the church according to this rnodel, with trainers from TCC providing training several times during the year. In February 2024 6 Connect Groups were launched across Birmingham with 9 freshly trained leaders, in homes as well as the church building. In the first two months 46 people has experienced life in a Connect Group. MORPH Into a new season of SERVING CCUK continued to build upon collaborative partnerships and initiatives within the local and global community to provide for practical needs, foster positive relationship and brin8 spiritual encouragement. These key local partnerships included Safe Families, Wyndcliffe Primary School, Birmingham City Mission, Time4Chan8e Birmingham, Birmingham Churches Together, Interserve, Birmingham City Football Club Chaplaincy and Saint Basils, The congregation regularly provided practical donations for foodbanks, school uniforms and Christmas gift5 for vulnerable people. Key global partnerships for this year included Samaritan's Purse, Open Doors, Compassion, and Assemblies of God Impact 25.40. The congregation made donations to provide emergency relief in response to the Morocco Earthquake and the crisis in the Middle East. Since movin8 into the buildin8 CCUK have hosted the National Missions Conference for Assemblie5 of God CG, the Standing Strong Regional Event for Open Doors, the Solid Rock Holiday club for Birmingham City Mission as well as a Networkin8 Event for Birmin8ham Church, Charity and Community Leaders. There have also been Community events in October, Christmas and Easter for our neighbours of all ages to engage with. MORPH from friends into famlly as we become TRINITY@BIRMINGHAM As outlined in the 22/23 Annual report, the Trustees of CCUK had began a conversation with the leadership of Trinity Christian Centre Singapore, a long-standing ally and supporter of CCUK, to explore the possibilities of a closer relationship between the two churches, to move from friends to family. As of May 14, 2023, Connect Church UK became Trinity@Birmin8ham, one of Trinity Christian Centre's overseas regional centres.
CONNEcfcHURCH UK Trustees, Annual Report (Including Directors, Report) for the year ended 31 March 2024 MORPH from mobile church Into the NEW BUILDING In May the staff team moved into the building to deliver non-public facing activities and also to store church equipment and assets. Meanwhile construction work was continued by Mayway, until the building was deemed ready for public use on 24 September 23. Work on outstanding planning conditions continues and are due for completion by July 24. The building was registered by the General Register Office as a Place of Worship on 3 October 23, and subsequently registered for the Solernnization of Marriages on 4 January 24. "Ifeel very close to many of the people who attend Trinity Church. l always feel loved and mode to feel welcome. I do better when l am oround people that Ifeel comfortable with and I can ottribute that to my relationships Gt church. l am usually much more settled and calm when l am Ground my Church Family ondfeel less olone regarding the world in generol. I have struggled with MH issues in the past but this hos been greatly improvedfirstly because of my relationship with my LORD Jesus and secondly because of the good souls that He has connected rne with. Church is great and the things that I hear and learn there hove helped me to novigate situations on the world in more productive and thoughtful ways. Thonk you. PLANS FOR THE FUTURE 2024125 will be the first full year for the church operating out of the new building, as Trinity@Birmin8ham an Overseas Centre of Trinity Christian Centre Singapore. In Trinity, we love God passionately, love church zealously, and love souls relentlessly. As a church we will be a biblical community where people can encounter God, experience life and impact our world. Our ongoing plans for the future of Trinity@8irmingham are for each person to.. Love God Passlonately- in their continual pursuit of God. Actively developing their relationship with God, seeking to know Him more intimately, growing in their love for Him day by dav. Love Church Zealously- committed to sacrificial service unto one another, using their gifts to build Trinity up, and to grow spiritually alongside their biological and spiritual families. Love Souls Relentlessly- dedicated to sharing the gospel of Jesu5 Christ, warmly welcoming people into community, discipling new believers and doing life together. Encounter God - in every platform of church, alone or when they come together with others. Experience Life- the abundant life in relationship with Jesus Christ both now and in eternity, and also in biblical community With other believers in Trinity@Birmingham. Impact Our World - as strategic leaders, not just in their position and vocation, but also in their daily interactions with every individual.
CONNEcf CHURCH UK Trustees, Annual Report (Including Directors, Report) for the year ended 31 March 2024 The goals for the 2024125 year are: Love God Passionately- I Pursue Him Love Church Zealously- Love One Another Love Souls Relentlessly- Every Soul Matters Establish Biblical Community- Train Leaders and Relaunch Connect Groups Launch a new restricted Building Fund REVIEWING FINANCES CCUK reported a net unrestricted deficit of £97,614 on general funds, a larger Ios5 when compared to the previous year (2023: _£28,5381. Income from general donations £184,88912023: £212,695) did increase but not enough to counteract the risin8 Costs. Restricted funds decreased to £13,515 (2023: £20,191> following the ongoing development of the building project. Income derived from voluntary donations decreased by 41% to £297,084 in 2024 compared to £504,939 in 2023. Two lar8e donations were included within the prior year. CCUK received £934,018 in grants this year, the majority (£929,018) from Trinity Christian Centre Singapore towards the completion and fit out of the building. There was an decrease in income from Charitable Activities £3,369 <2023: £4,846) as the church became more active in the new building. Expenditure increased by 23%, totaling £429,653 in 2024, compared with £342,867 in 2023. The ongoing construction, and the commencement of day-to-day running costs of the building contribute significantly to the rise In expenditure. Restricted fund5 Restricted funds comprise donations given for a specific ministry purpose. As at 31 March 2024 the unspent portion of these funds arnounted to £13,515 (2023: £20,191). Fundraising policy CCUK receives most of its donation income from its congregation. However, occasionally other organisations and grant-makers are approached to assist with special projects. The trustees are committed to maintainingthe highest legal and ethical standards in the way the charity undertakes its fundraising activities. CCUK is committed to abiding by the Code of Fundraising Practice and to the Fundraising Promise.
CONNEcf CHURCH UK Trustees, Annual Report (Including Directors, Report) for the year ended 31 March 2024 Reserves Policy Trustees of CCUK manage a tension between faith in God as the source of provision for the financial resources required to fund the work of the church, as well as the need to wisely steward resources to ensure that the church has sufficient working capital to meet its obligations to its employees and creditors. The Trustees aim to hold sufficient "free" reserves (equivalent to cash and liquid assets) to cover at least three months, expenditure. Free reserves at 31 March 2024 £160,393 {2023: £146,921 against a target based on 2024-25 budgeted costs of £108,648. For 2024 the free reserves have been calculated as net current assets less restricted funds. The Trustees will remain mindful of this target in making financial decisions and allocating resources during the current year. STRucfuRE, GOVERNANCE AND MANAGEMENT Governlng Document The church is a charitable company limited by 8uarantee, incorporated on 28 August 2009 and registered as a charity on 27 January 2010. The company was established under a Memorandum of Association and amended by special resolution(s) dated 05/0212013 which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1. Although Connect Church UK is an autonomous charity, since the church's commencement in 1940 it has had fellowship status with the Assemblies of God Great Britain IAOG GB), and abides by the Constitution of AOG GB, has accepted the AOG GB Statement of Faith, contributes financially to AOG GB and ensures that the Senior Minister has AOG GB Ministerial Status. RECRUITMENT AND APPOINTMENT OF TRUSTEES Training and Indurtion of Trustees The directors of the company are also charity trustees for the purposes of charity law. Under the requirements of the Memorandum and Articles of Association the trustees are identified by the Senior Minister and, after an application process, are appointed by the Trustees at the Annual General Meeting. The directors are not required to retire by rotation. It is considered that all the Trustees and any others who could be understood to be 'managers' in the activities of the charity are deemed to be 'fit and proper, persons under the terms of the Finance Act 2010. Training is available for any new trustee or those continuing to serve as on the board and as part of the regular meeting5 as well. On 14 May 23, Connect Church UK announced about moving from being friends to become family with Trinity Christian Centre Singapore (TCC) by becoming an Overseas Centre of TCC. The trustees agreed that Lead Pastor of TCC, Rev Gerald Tan, will become the spiritual leader of CCUK. As part of being
CONNEcf CHURCH UK Trustees, Annual Report (Including Directors, Report) for the year ended 31 March 2024 family, CCUK invited Rev Gerald Tan and Rev Dominic Yeo to join the CCUK Trustee Board on 25 June 2023. On 8 December 2023, Rev Dominic Yeo resigned as a trustee when he was elected as Chairman of World Assemblies of God Fellowship. CCUK then invited Pastor Allen Loh to be a trustee of CCUK on 4 February 2024. Organisational Structure and Decision Making The Board of Trustees met online, in-person or a hybrid of both, 11 times in the 2023/2024 financial year of the company. While the majority of these meetings were regular meetings of the board, some were extraordinary meetings to discuss or confirm the proposal of CCUK becoming a part of the Trinity Christian Centre Singapore global family. The Trustees are responsible for the various ministries and operations of the church and make regular reports at the meetings so that issues may be highlighted and discussed. A sub-committee, called the Management Team, of staff and skilled lay members of various professional backgrounds from the church is led by the Executive Minister and their research and recommendations inform the Board of Trustees. Trustee's Responsibilities All Trustees are aware of the Charity Commission's guidance on public benefit in their publication 'The Advancement of Reli8ion for Public Benefit, and have re8ard to it in their administration and activities of Connect Church UK. Risk Management Connect Church UK recognises that in relation to 'Risk Assessment,, risk is defined as 'the threat of any action or event which will adversely affect an organization's ability to achieve its objectives and execute its strategies,. It also accepts that the term 'risk' can include any circumstances that may, or do, have an adverse effect, and is wider than financial matters. 'Risks' relate not only to the negative consequences of a threat, but also to the impact of not taking advantage of opportunities. Connect Church UK recognises it requires a practical Health and Safety Policy for any building and surrounding grounds it owns or rents in pursuit of its activities. This is reviewed on a regular basis, An Accident log is maintained. 10
CONNEcf CHURCH UK Trustees, Annual Report (Including Directors, Report) for the year ended 31 March 2024 The contents and obligations of the Equality Act 2010 and the Data Protection Act 2018 are known and complied with to the best of the church's ability. The Trustees are aware of their responsibilities in respect of the Regulatory Reform {Fire Safety) Order 2005 and its requirement to carry out a fire assessment to identify any possible dangers and risks, to take action to minimize the risks and to create a plan to deal with any emergencies. and also to write up and keep a record of its findings and to review its assessment annually. The Trustees appointed firstly Matthew Hopley until December 23, and then Charlotte Francis in January 24 to be the responsible people to put these matters into operation. There is a Protection Policy in place in respect of children and vulnerable adults. Checks have been and are made with the Disclosure and Barring Service Iformerly the CRB) in respect of persons dealing regularly with young people and vulnerable adults. The Trustees, appointed officer for thi5 is Louison Ricketts. Whilst it is impossible to eliminate all risks and their consequences, efforts are constantly made to minimize such occurrences. The safeguarding policy is reviewed and revised annually and was approved on 4 February 24 by the Trustees and implemented where applicable in the various ministries of the church. One serious incident report was made to the Charity Commission in June 23. The Charitv Commission recorded the report and were assured that the trustees were dealing with the matter appropriately and responsibly. Trustees are kept informed on matters affecting the church, such as health and safety, disability discrimination legislation and child protection. TKIlly 11
CONNEcf CHURCH UK Trustees. Annual Report (Including Directors, Report) for the year ended 31 March 2024 Principal Risks and Uncertainties Potential Risk Mltlgatlon Flnancl l Li The economic chalknges due to VUCA fartors such as the Ukrainian War. C05t of Living crisis. and high inflation is ausing significant operating challenges and could impart CCUK'S Income andlor c35hflow. The church and the mlnistry is growing. As such the increase in expenses is outpacing the growth in tithes and offering. CCUK relE5 on God'5 provision and the generosity of the con8reEation to meet Its financial needs. CCUK now operates 35 an Oversea5 Centre of the TCC global family. Aim to hold at least 3 months. working capltal To continue to disciple the church the principle of 8ivin8- Malachi 3.10, Proverb5 3=9, 2 Sam 24..24 Strong budgetsry and financial controls are In place. AdditK)nal funding streams are being sought hl Rlsk Los5 of confidence by stakeholders due to the behaviour of Senior leadership or staff rnembers. which also includes Singapore TCC senior leadershlp. Future of the or8anisation could be leopardised due to back of adequate succession plannin8 for key senior roles. Growth Sn the church servlces and operations unable to be servlced by current staffing. Values are clearly defined and regularly communicated Prayer and worship are central to CCUK Oversight structures are In place for senior leaders and staff. Accessn planning for key senior roles In CCUK Is consldered wbthin the wider context of TCC Global family. TCC have been working with CCUK to build both the employed pastoral team as well as the lay pastoral and minlstry teams. There are re8ular opportunities for tralnin8 and onboardln8 of new leaders and volunteer5. l Rlsk Harm Comes to those in our care due to lack of appropriate and compllant chlld and vulnerable adult safeguarding procedures. Harm comes to viskors or staff due to lack of appropriate and compllant Health & Safety procedure5 Poor decision-makinB and breach of regulatory requirements due to weak or non-compliant governance structure5. Legal risks arisin8 from use of buildin8 for seiCe5, events and operations. Safeguafdlng at CCUK Is overseen by a Safeguardlng trustee and Management committee representative. CCUK works closely with Connert2famllles and thlrtyone:elght to ensure that It models best practice in the area of safeguarding. Regular H&S reportlng from Facillty Coordinator at Management and staff meetings. Intecnal and external H&S Advisors monitor and report on risk areas identlfied in church bulldlng. • Trustee meetings and structures are compllant wlth Charity Commission, Companies House and governing document requirements. Recrult and provlde tralnlng to keep strengthening the Trustee Board. • Conflicts of interest are managed approprlately at trustee level. Insurance Folicies are updated to reflect changes in operation. er tlonal Risk Inability to operate in the event of a disaster duè to lack of adequate business continuity planning. Business continuity compromised or critlcal data lost through cyber-attack. A150 Potential compromise of the physical building due io terrori5t attack or rioting IT 5YStems are backed up remotely and can be acce55ed motely. Continue to Invest in dlgitsl and technology systems Including technology. Data audits are regularly Conducted. Build c105ei relatlOWlship with police. 12
CONNEcf CHURCH UK Trustees, Annual Report (Including Directors, Report) for the year ended 31 March 2024 Statement of responsibilities of the Trustees CCUK Board of Trustees is responsible for preparing the Annual report and financial statements in accordance with applicable law and United Kin8dom generally accepted accounting practice. Charity law requires the trustees to prepare a statement of financial activities and statement of assets and liabilities for each financial year, which gives a true and fair view of the state of affairs of the church and of its financial activities for that year and adequately distinguishes any material special trust or other restricted fund of the church. In preparin8 those financial statements the CCUK Board of Trustees is required to: select suitable accounting policies and then apply them consistently; make judgements and estimates that are reasonable and prudent; state whether the policies adopted are in accordance with the appropriate SORP on Accounting by Charities and the Accountin8 Regulations and with applicable accounting standards, subject to the material departures disclosed and explained in the financial statements; and prepare the accounts on the going concern basis unless it is inappropriate to presume that the church will continue to operate. We are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable us to ensure the financial statements comply with the Charities Act 2011. We also have a responsibility to safeguard the assets of the church and to take reasonable steps to detect fraud or other irregularities and to provide reasonable assurances that: the church is operating efficiently and effectively; its assets are safeguarded a8ain5t unauthorized use or disposition: proper records are kept and financial information used within the church or for publication is reliable: the church complies with relevant laws and regulations. Approval This report was approved by the Board of Trustees of Connect Church UK and signed on its behalf, by Pastor Kirk McAtear. Senior Minister. Signed: Date: 13
CONNEcfcHURCH UK Independent Auditorfs Report for the year ended 31 March 2024 Opinlon We have audited the financial statements of Connect Church (the 'chariW) for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accountin8 Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, includin8 its income and expenditure, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2006 and Charities Act 2022 Ba515 for oplnlon We conducted our audit in accordance with International Standards on Auditin8 (UK) {ISAs {UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, includin8 the FRC'S Ethical Standard, and the provisions available for small entities. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to 8oln8 concern In auditing the financial statements, we have concluded that the trustees use of the 80in8 concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a 80ing concern for a period of at least twelve months from when the financial statements are authorised for issue, Our responsibilities and the responsibilities of the Trustees/Directors with respect to going concern are described in the relevant sections of this report. Other Informatlon The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees/Directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether thbs gives rise to a material misstatement in the financial statements 14
CONNEcf CHURCH UK Independent Auditor's Report for the year ended 31 March 2024 themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinion5 on other matters prescribed by the Companles Art 2006 In our opinion, based on the work undertaken in the course of our audit: the information given in the trustees report for the financial year for which the financial statements are prepared, which includes the directors, report prepared for the purposes of company law, is consistent with the financial statements: and the directors, report included within the trustees report has been prepared in accordance with applicable legal requirements. Matters on whlch we are requlred to report by exceptlon In the light of the knowledge and understanding of the charity and it5 environment obtained in the course of the audit, we have not identified material misstatements in the directors, report included within the trustees report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or the financial statements are not in agreement with the accounting records and returns; or certain disclosures of trustees, rernuneration specified by law are not made; or we have not received all the information and explanations we require for our audit; or the Trustees/Directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the trustees report and from the requirement to prepare a strategic report. Responslbllltles of Trustees/Dlrertors As explained more fully in the statement of trustees responsibilities, the Trustees/Directors, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees/Directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparin8 the financial statements, the Trustees/Directors are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees/Directors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the 15
CONNEcf CHURCH UK Independent Auditorfs Report for the year ended 31 March 2024 aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. A further description of our responsibilities is available on the Financial Reporting Council's website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. Kt(H Stephen Lewis (Senior Statutory Auditor) For and on behalf of LMH Accountants Limited T/A Trevor Jones & Co, Statutory Auditor Chartered Accountants Old 8ank Chambers 582-586 Kingsbury Road Erdington 8irmin8ham B24 9ND Date: Z3 16
CONNECT CHURCH UK Year Ended 31st March 2024 Statement of Financial Activities (Income and Expenditure Account Included) 2024 Unrestncted Restricted Funds Funds 2023 Total Funds Total Funds Income Donations and legacies Charitable activities Other income 208,222 1,022,880 1,231,102 3,369 3,369 7,923 8,622 504,939 4,846 565 699 Total Incom• 219,514 1,023,579 1,243,093 510,350 Expendlture Raising funds Charitable activities 1,172 315 955 1,172 428,481 1,855 341,012 112.526 Total Expendlture 317,127 112,526 429,653 342,867 Net Income I IExpendlture) Before Galn I (Loss) on Building Revaluatlon {97,613) 911,053 813,440 167,483 Gain l (Lossl on Building Revaluation (788,503) (788,S03) Net Income I (Expenditure) After Gain I (L088> on Bulldlng Revaluation (886,1161 911.053 24,937 167,483 Net Income and Net Movement In Fund8 Total funds brought forward Transfers 16 16 1,505.314 20,191 1,525,505 1,358,022 917,729 (917,729) Total Fund8 Carried Forward 18 1,536.927 13,515 1,550,442 1,525,505 All income and expenditure derive from continuing activities. The statement is a combine(f Statement of Financial Activib'es and Income and Expenditure Accounl for the purposes of meeling both the Companies Act and Charity SORP reporting requirements. 17
CONNECT CHURCH UK Year Ended 31st March 2024 Statement of Financial Position 2024 2023 Note Fixed As8ets Tangible fixed assets 12 2,675,516 2,650,535 2,675,516 2,650,535 Current Assets Debtors Cash at bank and in hand Investments 13 11,681 143,664 31,947 27,363 119,855 31.083 187,292 178,301 Croditors". Amounts Falling Due Wlthln One Year Not Currant Assets 14 33,567 11,189 153,725 167,112 Total Assets Le88 Current Liabilities 2,829,241 2,817,647 Credltors: Amounts Falling Due After One Year 15 1,278.799 1,292,142 Net Assets 17 1,550,442 1,525,505 Funds of The Charfty Restricted funds 16 13,515 20.191 Unrestricted funds Unrestricted general Designated funds 18 160,393 1,376,534 146,921 1,358,393 1,536,927 1,505,314 Total Charlty Funds 1.550,442 1,525,505 These financial statements for Connect Church UK (Company number.. 070035761 have been prepared in accordance wilh the provisions applicable to companies subject to the small ents.lies regime of the Companies Act 2006. Directors Re8ponsibilitie8 These financial statements were approved by the board of trustees and authorised for issue . Name of Trustee: Ic( LIL Signed on Behalf of the Trustoes: Date of Approval: ZOL 18
CONNECT CHURCH UK Year Ended 31st March 2024 Statement of Cash Flows 2024 2023 Cash Flows from Operating Actfvltles: Net cash provided by (used in) operats.ng activities 846,114 157.150 846,114 157,150 Cash Flow8 from Investing ActiVFtIo8: Dividends and interest Purchase of tangible fixed assets 2122 565 (830,4031 {471,413) Net cash provided by (used in) investing activities (828,2811 {470,848) Cash flow8 from Finan¢lng Actfvitles: Repayments on borrowing Cash inflows from new borrowing Net cash provided by (used in) financing activities (217,7881 224,628 138,671 6,840 138,671 Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and Cash Equlvalents At The End of The Reporting Period 24,673 150,938 {175,027) 325,965 175.611 150,938 Reconciliation of Net Movement in Fund8 to Not Cash Flow from Oporatlng Act5vltles 2024 2023 Net movement in funds for the reporting period {as per the ststement of financial activitres) 24,937 167.483 Adjustments for.. Depreciation charges Dividends and interest from investments (Increase) I decrease in debtors Increase l (decrease) in creditors Loss on Building Revaluation Net cash provided by {used inl operating actr¥ittes 16,919 (2,122) 15,682 2,195 788,503 1,835 {565} {17,879) 6,276 846,114 157,150 Analysis of Cash and Cash Equlvalents 2024 2023 Cash at bank Short term investments 143,664 31,947 119,855 31,083 Total cash at bank and short term investments 175,611 150,938 19
CONNECT CHURCH UK Year Ended 31st March 2024 Notes to the Financial Ststements 1 Accounting Policies 1.1 Basis of Preparatlon The financial statements of the charitable cornpany have been prepared under the historical cost convention and in accordan with the Statement of Recommended Practice applicable lo charities preparing their accounts in accordan with the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021. the Companies Act 2006 and United Kingdom Generally Accepted Accounting Practice applicable lo smaller entib'es. The financial accounts are prepared in Sterling (£1 which is the fiJn¢tional currency of the charitable company. Connect Church UK meets the definition of a public benefit entity under FRS 102. 1.2 Assessment of Golng Concern During the 2023124 financial year, the trustees considered the challenges to keep the charity operating on the basis of goign concem. After considering the options, InteNentions were implemented which have enabled the practical completion and occupation of the church building (previously referred to as the Home and Hub). The trustees now consider the charity to be a going concern for the next twelve months. 1.3 Fund Accountlng Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the chantable objectsves. Unrestncted funds Include designated funds where the trustees. al their discretion. have set aside resources for a specific purpose. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or the term of specific appeal. Further explanation of the nature and purpose of each fund is included in Note 16 of the financial statements. 20
CONNECT CHURCH UK Year Ended 31st March 2024 Notes to the Financial Ststements 1.4 Incoming Resources All incoming resources are recognised once the charity has entiuement to the resources, it is probable that the resources will be received, and the Monetary value of incoming reSoUrS can be measured with sufficient reliability. All voluntary income is recognised as donations and are included in full, with associated gift aid receivable in the Statement of Financial Activities. . Grants where ents"tlement is not conditional on the delivery of SFecific perfomance by the charity are recognised when the charity becomes unconditionally entitled to the grant. Income from charitable actNities are accounted for when involS are dravm up and the service has been provided {as the FM)int of entitlement). Donated services and facilities are included at the value to the charity where this can be quantified. Gifts in Kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. . Time is expended on the charity's activities and governance which is donated free of charge. It is impractical to quantify the value of the time given. and accordingly it is neither recorded as donated income nor as an expense in the financbal statements. . Investment Income is Included In the accounts when receivable. 1.5 Resources Expended The costs of charitable activities represent the cost of undertaking the charity's objectives and include direct costs incurred In delivering those services logether with SUPF)Ort costs. All expenditure is accounted for on an accruals basis Liabilities are recognised as expendtture as soon as there is a legal or constructive obligation committing the charity to that expenditure, it Is probable that a transfer of economic benefits will be requifed in sethement and the amount of the obligalion can be measured reliably. Value added tax is not recoverable by the charitable company and as such It is included In the relevant costs in the Statement of Financial Acts'vits'es. Costs of raising funds include expenditure on promotson and advertising plu5 any fundraising trading costs. 1.6 Governance Costs Include costs of the preparation and examination of statutory accounts, the costs of the trustees. meetings and cost of any legal advice to trustees on governance or constitutional matters 1.7 Liabilities Recognition Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources. 21
CONNECT CHURCH UK Year Ended 31st March 2024 Notes to the Financial Statements 1.8 Tangible Fixed Assets AJI assets costing more than £500 are capitalised and at historic cost. Fixed assets ara stated at cost less accumulated depreciaton. Depreciation is charged on fixed assets which is written off on a straight-line basis over ts'me and esb'mated useful life of the asset. Fixtures, fittings and furniture Motor vehicles Computer equipment 20 /0 Straight line 20 % Straight line 20 % Straight line Fixtures, fittings and vehicles are reviewed for impairment if events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. If there is an indication of possible impairment, Ihe recoverable amount of any affected asset is estimated and compared against its carrying amount. Where the estimated recoverable amount is lower, an impairment loss is recognised Immedialely in the Statement of Financial Activits'es. Fixed assets are for use by the church in fulfilling its objects and are capitalised and depreciated. Freehold land and buildings are held under the revaluation model and are initially recognised at cost and subsequently measured at fair value, based on periodic valuations, less any subsequent impairment10sses. No depreciation is charged on either land or buildings. This is because the useful economic life of the building Is not reliably measurable and is expected to exceed 50 years. The building is considered to have long-tefm conts'nuing use in furtherance of the charity's objectives. The charity obtains a market valuaiion of the18nd and buildings every few years to ensure the carrying amount reflects fair value. The most recent independent valuats'on was carried oul in November 2024. The charity also reviews the carrying amounts of land and buildings at each reporting date to assess whether there is any indication of impaimienl Where such indicators exist. an impairment review is undertaken. If the asset's carrying amount exceeds its recoverable amount, an impairment loss is recognised in the Statement of Financial Acts'vities. 1.9 Pensions The charity operates a defined contributs'on pension scheme. contributs.ons are charged to the Statement of Financial Activiknes as they become payable in accordance with the rules of the scheme. 1.10 Operatlng Leases Rentsl charges payable under operating leases are charged on a straight line basis over the terms of the lease. 22
CONNECT CHURCH UK Year Ended 31st March 2024 Notss to the Financial Statsments 1.11 Taxation The charity is exempt from taxation in respect of income or capital gains received to the extent that such income or gains are applied exclusivdy for charitable purposes. The charity is not exempt from Value Added Tax. 1.12 Volunteer A88i8tance Time is expended on the charity's activities and governance which is donated free of charge It is impractical to quantify the value of the time given, and accordingly it is neither recorded as donated income nor as an expense In the financral statements. 1.13 Flnanclal Instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, of FRS 102 to all its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes paty to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in th8 financial statements. when Ihere is a legally enforceable right to set off the recognised 8mounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultsneously. With the exceptions of prepayments and deferred income all other debtor and creditor balances are considered to be basic financial instruments under FRS 102. 1,14 Employee 8eneflts The cost of short-term employee benefits are recognised as a liabilty and an expense. The cost of any unused holiday entitlement is rec(yJnised in the period in which the employee's services are reived. Temiination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or 10 provide terniinatson benefits. 1.15 Crltlcal Accountlng Estlrnate8 and Area8 01 Judgement In the application of the charity's accounting policies, the trustees are required to make Judgements, estimates and assumptions about the carrying amount of assets and liabilities that are nol readily apparent from other sources. The esb'mates and associated assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates The estimates and undedying assumptions are reviewed on an ongoing basis Revisions to accounting estsmates are recognised In the period In which the estimate is revised where the revision affects only that peritsj, or in the period of Ihe revision and future periods where the revision affects both current and future periods. 23
CONNECT CHURCH UK Year Ended 31st March 2024 Notes to the Financial Ststements 2 Analy818 of Income Unrestricted Funds Restricted Total Funds Funds 2024 Donations and Legacie8 Donations Gift aid Grants Legacies Gifts in kind 184,889 22,713 70,683 18,179 934,018 255,572 40,892 934,018 620 620 208.222 1.022,880 1,231,102 Charitablo Activiti08 Church activities Other activities 1,389 1,980 1,389 1.980 3,369 3.369 Other Income Bank interest Building rent 1,423 6,500 699 2,122 6,500 7,923 699 8,622 Total Income 219,514 1,023,579 1,243,093 24
CONNECT CHURCH UK Year Ended 31st March 2024 Notes to the Financial Statements 2 Analysis of Income (Continuedj Unrestricted Funds Restn'cted Total Funds Funds 2023 Donation8 and Legacies Donations Gift aid Grants Legacies Gifts in kind 212,695 30,495 152,825 14,524 365.520 45,019 94.400 94,400 337.590 167,349 504.939 Charitable Activities Church activities Other activities 1,639 3.207 1.639 3,207 4.846 4.846 Other Income Bank interest Building rent 477 88 565 477 88 565 Total Income 342,913 167,437 510,350 During the year the charity received two material gifts in kind totalling £94,400 worth of goods and services. The nature of the goods and services received during the year was the donation of 180 chairs for the main sanctuary along with the supply and fitting of the flwring of the new building valued. 25
CONNECT CHURCH UK Year Ended 31st March 2024 Notes to the Financial Statements 3 Expendlture on Charitable Activitie8 Other direct costs Support costs Salaries 2024 Ordinary ministry of the church Development of Home & Hub Grants and mission giving 142,848 63,780 1C6,949 5,771 109,133 315,761 106,949 5,771 142,848 176,500 109,133 428,481 Other direct costs Support osts Salaries 2023 Ordinary ministy of the church Development of Home & Hub Grants and mission giving 126,590 39.621 73,537 16,617 84,647 250,858 73,537 16,617 126,590 129,775 84,647 341,012 Unrestricted Funds Restricted Total Funds Funds 2024 Ordinary ministry of the church Oevelopment of Home & Hub Grants and mission giving 313.956 1,805 106.949 3,772 315,761 106,949 5,771 1.999 315,955 112,526 428,481 Unrestricted Funds Restricted Total Funds Funds 2023 Ordinary ministry of the church Development of Home & Hub Grants and mission giving 250,858 250,858 73.537 16.617 73,537 12,279 4.338 255,196 85,816 341,012 26
CONNECT CHURCH UK Year Ended 31st March 2024 Notes to the Financial Statements 4 Ordinary Ministry of the Church Other direct costs SupF)Ort costs Salaries Total 2024 Contribution to AOG GB Salaries and pension contributions Staff related costs Cost of SeiceS Pastoral care & training Worship Church courses & events Youth and children's work Engage (local social action) 142.848 142.848 38,413 51.188 5,211 14.169 18,881 1,922 24,244 32,307 3,289 21,608 5,348 1,852 36,973 9.151 3,169 58,581 14,499 5,021 142,848 63,780 109,133 315,761 Other direct costs Support costs Salaries Total 2023 Contributr'on to AOG GB Salaries and pension contributions Staff related costs Cost of senilS Pastoral care & training Worship Church courses & events Youth and children's work Engage (local social action) 5,400 5,400 126,590 38,703 47,594 3,491 126.590 11,142 13,702 1,005 27,561 33,892 2,486 3,253 4,705 414 8,046 11,638 1.024 11,299 16,343 1,438 126,590 39,621 84,647 250,858 5 Development of Home & Hub Unrestricted Funds Restricted Funds Total 2024 Fitout Mortgage interest Building legal & advisory 2,657 103,482 810 2,657 103,482 810 106,949 106.949 27
CONNECT CHURCH UK Year Ended 31st March 2024 Notes to the Financial Statements Development of Home & Hub cont. Unrestricted Funds Restn'cted Funds Total 2023 Fitout Mortgage interest Building legal & advisory 1,878 67,508 4,151 1,878 67.508 4,151 73,537 73,537 6 Grants and Mission Giving UnstrICted Funds Restricted Funds Total 2024 Glfts for Overseas Mlsslon AOG Impact 25.40 Afghanistan AOG Impact 25.'40 Middle East Appeal AOG Impact 25.40 Earthquake appeal AOG Vision Offering 2023 AOG Wycliffe Bible Translation Open Doors with Br Andrew Slovenia Building Projec Light of the Gospel Ministrys 2.291 800 2.291 800 489 489 600 600 1,089 3,091 4,180 Glfts to UK Beneflclarles Individua15 MIs8lons Costs Flights abroad Missions trip costs Local mission Pastoral care - missionaries 376 536 376 536 561 120 561 120 912 681 1,593 Total 2.001 3.772 5,773 28
CONNECT CHURCH UK Year Ended 31st March 2024 Notes to the Financial Statements Grants and Mission Givlng cont. Unrestricted Funds Restricted Funds Total 2023 Gifts for Overseas Mission AOG Impact 25".40 Afghanistan AOG Impact 25.'40 Middle East Appeal AOG Impact 25.40 Earthquake appeal AOG Vision Offering 2023 AOG Wycliffe Bible Translation Open Doors with Br Andrew Slovenia Building Project Light of the Gospel Ministries 7,600 7,600 1,600 1,600 600 2.000 300 600 2,000 300 2,900 9,200 12,100 Gifts to UK Beneficiaries Individuals 3,103 3,103 3,103 3,103 Missions Costs Flights abroad Missions trip costs Local mission Pastoral care 402 536 402 536 938 938 Total 6,941 9,200 16,141 29
CONNECT CHURCH UK Year Ended 31st March 2024 Notes to the Financial Ststements 7 Support Costs 2024 2023 Building rna1ntenan & running costs Rates and insurance Telephone and printing Total property related support costs 36,588 6,186 4,193 45.377 14,202 1,541 46,967 61,120 4,228 107 4,430 115 Finance Creative services Executive and legal Depreciats"on 40,912 16.919 17,147 1,835 62,166 23,527 Total 109.133 84,647 Support costs (all are spent from unrestricted funds) have been apportioned based on identified contribution to direct or support function for both stsff and expenses. 8 Rai8ing Funds Unrestncted Funds Restricted Funds Total 2024 Fundraising costs 1,172 1,172 1,172 1,172 Unrestricted Funds Restricted Funds Total 2023 Fundraising costs 1,855 1,855 1,855 1.855 30
CONNECT CHURCH UK Year Ended 31st March 2024 Notes to the Financial Statsments 9 Statutory Audlt and Indepondent Examlnerfs Fees Fees payable to the independent examinats'on for.. 2024 2023 Statutory audit Accounts preparation and independent examination 7,200 1,920 10 Staff Costs The total staff costs and employee benefits for the reporting period are analysed as follows.. 2024 2023 Wages and salaries Social security Costs Employer contributsons to pension plans 132.641 5,773 4,434 117,861 4,800 3,929 142,848 126,590 The average headcount of employees during the year was as follows.. 2024 2023 Average headcounl The number of employees who received employee benefits of more than £60,000 during the year was as follows: 2024 2023 More than £60,000 Kèy Management Personnel The key management personnel of CCUK comprises of the Senior Pastor and Executive Pastor. The total employee benefits (including pension and Employer NICI of the key management personnel of the charity were £75,305 (2023. £63,052>. 31
CONNECT CHURCH UK Year Ended 31st March 2024 Notes to the Financial Statements 11 Trustee Remuneration, Expenses and Donatlons During the year four trustees incurred out of pocket expenses for the day to day running of the church amounting to £1,282 (2023= £314). During the year the total aggregated donations made to the charity by the trustees was £44,713 (2023.. £52,507). The donors did not attach any conditsons to their gifts which required the charity to significantly alter the nature of its existing acts'vities. During the year three trustees were employed by the charity for roles outside of their trustee duties 12023. 2) The total remuneration received including employers national insurance and employers pension contribution were as follows.. 2024 2023 Pastor Kirk McAtear Pastor Tracee McAtear Pastor Simon Lakin 41.955 33.351 18,288 38,419 24,633 12 Tanglble Flxed A888ts Land and Church Computer Building Equipment Equipment Total Cost as at 1st Apnl 2023 Additions 2.632,449 756,054 (788,5031 19,589 68,502 4,691 2,656,729 5,847 830,403 (788,503) 10,538 2,698,629 Revaluation Cost as at 31st March 2024 2,600,000 88,091 Depreciation as at 1 st April 2023 Depreciation Charge Depreciation as at 315t March 2024 3,754 14,905 2,440 2.014 6,194 16,919 18,659 4,454 23,113 Net Bwk Value as at 31st March 2024 2.600.000 69,432 6.084 2,675,516 Net Book Value as at 31st March 2023 2,632,449 15,835 2,251 2,650,535 During 2023124 the building project was completed. In November 2023 the Trinity Church building on 150 Coventry Road was revalued upon Ihe completion of the building work based on the market value of the building and was completed by Carter Jonas LLP. 32
CONNECT CHURCH UK Year Ended 31st March 2024 Notes to the Financial Ststements 13 Debtors 2024 2023 Gift aid Prepayments and accrued income 5,181 6,500 7.363 20,000 11,681 27,363 14 Creditor8: Amounts Falling Due Within One Year 2024 2023 Trade creditors Accruals and deferd income Loans and mortgages 13,228 156 20,183 3.474 7,715 33.567 11,189 15 Credltors: Amounts Falllng Due After One Y•ar 2024 2023 Charity bank mortgage Big Issue - Development loan Big Issue - Working capital loan 1,278,799 1,074,354 123,009 94,779 1.278.799 1,292,142 Capital repayment holiday was granted by both Charity Bank and Big Issue due to the Covid Pandemic and was extended until 31 December 2023. In January 2024, the charity entered into a consolidated term loan agreement wth The Charity Bank Limited to refinance its previous borrowings. The loan of £1,300.000 is repayable over 25 years on an amortising basis, with a final repayment due in January 2034. It is secured by a legal charge over the charity's propety at Kingston Road, Small Heath and a charge over a designated deposit account. 33
CONNECT CHURCH UK Year Ended 318t March 2024 Notes to the Financial Statements 16 Anatys5s of Charitable Funds 1 Apr 2023 Income Expenditure Gain l (Loss) Transfers 31 Mar 2024 Unrestricted Funds Unrestricted General fund5 146,921 219,514 {317,127) (317,127) 111,085 160,393 146,921 219,514 111,085 160.393 Deslgnat•d Asset and building fund 1.358.393 1788.503) 806.644 1,376,634 1,358,393 (788,503) 806.644 1,376,534 Total Unrestrlcted 1,505.314 219.514 (317,127) (788.503) 917,729 1,536,927 Re8trlcted Fund8 Access impact grant Growing lives grant Missions Synergy legacy Trinity Christian Céntre grant Wision fund Youth camp grant 164 (1,805) {3.652) (1201 1,805 1,084 2,897 8,142 S,574 2,777 929,018 (929,018) 16.046 81,419 5,000 (1C6,949) 9,484 5,000 13,515 Total Restrlcted 20,191 1.023.579 1112.526) (917,729) Total Funds 1.525,505 1,243.093 1429.6531 1788,5031 1,550,442 Fund Tran8fars Expenses in the Trinty Chrisian Centre grant and the Vision fund were spent on the renovation of the Church building. A transfer of £929,018 assets purchased by the Trinty Christian Centre fund and £8,834 asset purchased by the vision fund are held In the general fund.
CONNECT CHURCH UK Year Ended 31st March 2024 Notes to the Financial Ststements 1 Apr 2022 Income Expenditure Gain l (Loss) Transfers 31 Mar 2023 Unrestricted Funds Unrestricted General funds 1,130.346 342.913 (257,027) 1257.027) (1,069,311) (1,069,311) 146,921 1.130,346 342,913 146,921 Deslgnated Asset and building fun 1,358,393 1,358,393 1,358,393 1,358,393 Total Unrestrlcted 1.130,346 342,913 1257,027) 289,082 1,505,314 Restricted Funds AcsS impact grant All churches Trust Ltd grant Growing lives grant Missions Synergy legacy Vision fund 164 164 56,500 (56,5001 19,000 520 6.000 145.492 (19,0001 9,764 (9,200) (3.103) {73.537) (85,840) 1,084 2,897 16,046 157,673 (213,582) Total Restricted 227,676 167,437 (289,082) 20,191 Total Funds 1.358,022 510,350 (342,867) 1,525,505 Fund Transfers During the year ending 31st March 2023 the building development project, other fixed assets and the loan mortgage balances were transferred out of the general fund and building development related restricted funds to a designated fund that holds the nettK)ok value of CCUK'S assets less the outstanding mortgage and loan balances. 35
CONNECT CHURCH UK Year Ended 31st March 2024 Notes to the Financial Statements Fund Descriptions Designated Funds Asset and building fund A fund to hold the net bk value of the buildings and other assets hekl by CCUK less the outstanding loan and mortgage balances. Restricted Funds AC$$ Impact Grant Funding to engage a fundraiser to write grant bids for the Home & Hub project. Funding towards the construction of the Home & Hub. The Missions Fund is a Restricted Fund that was established for the following purposes.. a. To fulfil the Church's vision for missions through the provision of financial support to organised indNiduals. for ministry, church and community development. b. To finance and support charitable purposes. humanitarian and disaster relief works. c. To provide financial aid to needy people. d. To finance and support the educa on, training and development of church ministers and leaders. Allchurches Trust Ltd grant Missions Trinity Christian Centre grant This fund represents amounts received from Trinity Christian Centre, SIngare, specifically to support the capital costs and fit-out of the new church building at 150 Coventry Road. Birmingham. Expenditure from this fund is restricted to construction. fumishing, and equipping the building in line with Ihe terms of the grant and the charitys objectives. Donation for activities for the elderty e.g.: holidays. Gifts and funding towards the constructton of the Home & Hub This fLind relates to designated donations and grants received for the purpose of suprx)rting youth ministry activities, including subsidising costs for attendance at youth camps and related events. Expenditure is restricted to direct costs associated with youth participation, including venue hire, transFM)rt, accommodation, and materials. Synergy legacy Vision fund Youth camp grant 36
CONNECT CHURCH UK Year Ended 31st March 2024 Notes to the Financial Statements 17 Analy818 of Net A88ets Between Funds Unrestncted Funds Restricted Total Funds Funds 2024 Fixed assets Current assets Creditors less than 1 year Creditors more than 1 year 2,675.516 173,777 (33.567) (1,278,799) 1.536.927 2,675,516 187,292 (33,567) 11,278,799) 1,550,442 13,515 13,515 Unrestricted Funds Restncted Total Funds Funds 2023 Fixed assets Current assets Creditors less than 1 year Creditors more than 1 year 2,650,535 158,110 (11.189) (1,292,142) 1.505,314 2,650,535 178,301 (11,189) (1,292,142) 1,525,505 20,191 20,191 18 Related Party Transactions Connect Church is affiliated to the Assemblies of God, Great Brrtain. CCUK made an annual contribution and additional gift of £6,344 to the Assemblies of God in 2024 {2023. £5,400). Kirk McAtear was employed by AOG GB. He finished employment from AOG GB In February 2024. Rev Gerald Tan and Pastor Allen Loh, directors and trustees of CCUK, are senior leaders of Trinity Christian Centre Church in Singapore. In the year ending 31st March 2024 Trinity Chri5tsan Centre donated £929,018 to support of the CCUK building project. Valerie Danelczyk, director and trustee of CCUK. is a trusts of Gilgal Brimingham (Registered charity number 11028031. During the year CCUK gave a £100 donation to Gilgal Birmingham. Stefanie Lakin is related paty to trustee and director Simon Lakin through being a close family relative. Stefanie Lakin is an employee of CCUK and received a lotal remuneration of £9,081 {2023'. £9,353) including employers national insurance and employers pension contnbutson. 19 Events After The Reportlng Perlod The building works on the church property were completed after the year end, with the final certificate of completion Issued in October 2024 37
CONNECT CHURCH UK Year Ended 31st March 2024 Notes to the Financial Statements 20 Prior Y•ar Statomont of Flnanclal Actlvltles Unrestricted Funds Restricted Funds Total Funds Income Donations and legacies Charitable activities Other income 337,590 167,349 504.939 4,846 565 477 88 Total Incomg 342.913 167,437 510,3SO Expendlture Raising funds Charitable activities 1.855 255.196 1,855 341,012 85,816 Total Expendltur• 257,051 85,816 342.867 Net Income l (Expendlture) 85,862 81.621 167,483 38