Charity registration number 1134130 (England and Wales) CHELTENHAM UNITED REFORMED CHURCH ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
CHELTENHAM UNITED REFORMED CHURCH LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr R EAlger (Resigned 14April 2024) Mr M Dann Mrs C Drummond Mrs J Kemp Mrs A Kerr Mrs A Lewis Rev l D McLaren Mrs A Stagg Mr G Tizzard-King (Resigned 14April 20241 Mr B Miles Mrs D Miles Mr D Black Mrs C A Pennington Mls J Evans Mrs P Haywood {Resigned 25 January 20251 Charity numbor (England and Wales) 1134130 Reglstored offlc• Montpellier Street Cheltenham Gloucestershire GLSO 1SP Independent examin•rBK Plus Limited 6 Manor Park Business Cent Mackenzie Way Chellenham Gloucestershire England GL519TX
CHELTENHAM UNITED REFORMED CHURCH CONTENTS Page Trustees, report Independent examinels report 11 Statement of financial activities 12 statement of financial position 13 Notes to the financial statements 14-24
CHELTENHAM UNITED REFORMED CHURCH TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their annual report and financial statements for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply wilh the charity's governing document, the Charities Acl 2011, FRS 102 "The Financial Reporting Standard applicable In the UK and Republic of Ireland" and the Charities SORP A£counling and Reporting by Charities,. Statement of Recommended Practice applicable to charities preparing their accounts in accoTdance with the Financial Reporting Standard applicable in the UK and Rèpublic of Ireland IFRS 1021" Objectlves and actlvltles Overvlew St Andrew's URC I"The Charity") and Prestbury URC. are the conslituent parts of Cheltenham United Reformed Church (CURC). Both churches undertake activities on their own behalf, as well as through the CURC. St Andrew's manage the Warden Hill building. The objectives af the Charity are to advance the Christian faith in accordance with the doctrines, principles and practices of the Reformed Tradition as upheld by the United Reformed Church. CURC is now adminislered as part of the 'Pastorale of the North Cotswolds, (CURC. Broadway URC and Brockworth Independent Church), under the ministerial direction of Rev lain McLaren, and through the West Midlands Synod of the United Reformed Church. The Charity's op&ratlons are broadly classified as Ministry and Mission (including children and youth work), Training, Property and Administrative Support. All assistance relating to administration of the Charity and supply of support to members and adherents 18 by volunteers. This includes assistance with services, outreach work, publicity, organising activity groups, maintenance, and finance. We are an inclusive church that does not discriminate against people on grounds of gender, race, dlsabilily, or sexuality. The agreed 'Vision Statement, of Cheltenham United Reformed Church Is: 'Through Faith, Fellowship and Csre we affirm that Jesus is Lord!, The Church lakes as ils guide the Five Marks of Mission accepted by all the mainstr8am churches as part of their membership of 'Churches Together in England,. These markers are summarised as Tell Toach Tend Tiansform and Tr•asur• as follows.. T•ll is aboLtt presenting the Gospel of Jesus and the Word of God for the benefit of all who will listen., Teach is about increasing knowledge and understanding ofthe Christian faith., Tend Is about our response to the challenge of caring for others. Transform Is about our support for external agencies. Our Treasure is in our people, our environment, our listed buildings and our finance., These Flve Marks have been developed further by the URC nationally in its own programme introduced in 2019, called 'Walking the Way, Living the Life of Jesus Today.. Our specific activities relating to these and other headings during 2024 are reviewed below.
CHELTENHAM UNITED REFORMED CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Ensurlng dellvery of the charity's aims and public benefit In planning the charily's activities for the year. the trustees kept in mind the Charity Commissicn's guidance on public benefit. Our aims include benefiting the public. This has been a year of further consolidation in all areas of work following the merger of Warden Hill and St Andrew's. Communications with our members continues to be through a weekly emailed Bulletin, the website, and face to face. Live streaming for public worship has conlinued and developed. This conlinues to serve our housebound members and a sleady stream of absentees and enquirers. In 2024 we have welcomed the Rev Julie Jefferies to Prestbury URC as a part-time Non-stipendiary Minister on completion of her training Public benefit The trustees have paid due regard to guidance issued by the Charily Commission in deciding what activities the charity should undertake. Achlevements and performan¢• Significant activities and achievements againsl objecliyes 2024 Actlvltles Achlevoments and Performance Toll: Our Ministers, Rev lain McLaren and Rev Julie Jefferies, visiting minister5, lay preachers ané internal worship groups have contlnued to provide Sunday worship. preaching and witness both in traditional forms and in new styles. We have welcomed visiting speakers. both at zoom meetings and in person. We continue to observe the v8rious festivals of the church and have laken part in ecumenical activity. We strive lo make visitors welcome to our services and new people have become associated with our worship over th8 year. Membership numbers have remained steady. We have been making regular use of our Liv&streaming technology, broadcasting all Sunday worship on YouTube. We are also using 'Zoom' for many meetings. All church business and events are controlled by the Church Meeting in conjunction with the Elders Meetings. The weekly emailed 'Bulletin' continues to develop as the msjor written communicalion ch8nnel, adopled across Ihe four churche5 of the 'North Cotswolds Pastorate.. The CURC website has been redeveloped under the 'North Cotswolds Pastorate, banner. 'In Touch, is a quarterly publication for publicity purposes. We have good working relationships with both church groups that use our premises: the Evangelical Assembly of God (ADM Cheltenham), and the Redeemed Christian Church of God (RCCG). Monthly URC worship seNices at Warden Hill is in the form of Messy Vintage. Worship on Sundays is by the Redeemed Christian Church of God <RCCG). Mission with young children and families takes the form of'Family Fun Day,, one day in each school holiday. Work with the older generation is through 'Messy Vintage. and the wider work of the Anna Chaplaincy in Ch<enham and Bishop's Cleeve. The Reading Group is active. The Spire Fund Appeal has involved the church Retail outlet, a Concert series, goodwill donations and grants from many sources. Bookings for the use of our buildings have been maintained during the year, from hirers across the community.
CHELTENHAM UNITED REFORMED CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR EIVDED 31 DECEMBER 2024 Teach.. Regular Sunday Morning Worship provides teaching in Ihe Christian faith for all who will attend. Since summer 2020 worship at Sl Andrew's has been broadcast via YouTube. Seasonal prayer meetings and Bible Study groups have taken place by Zoom. We have Wayside Pulpits on our public noticeboards at both siles. We arrange for the purchase of the URC Prayer Handbook, Bible Reading Notes and other URC publications. Some members are aclive supporters of Street Pastors in Cheltenham and 'Open the Book, taking Bible Stories into School Assemblies. Tend: The Pastoral Committee and Elders continue to monitor need and offer support of pastoral care. Home Communion is normally provided by our Ministers. Rev lain McLaren and Rev Julie Jefferies. Our Pastoral team visits those unable lo be active in the community. We have responded lo requests for Baptisms, Weddings, Funerals and Memorials during the year. Representatives attend regional and national URC events. We have responded in worship to National Events, tragedies, ECO concerns, Seasonal milestones, and Christian Festivals. Our Church Safeguarding Officer now works across the Churches of the North Cotswolds Pastorate. W8 encourage our community to teke advantage of exercise opportunities according to thelr own preferences. 'Footsloggers' the church walking group, and Qi Gong- gentle 'Eastern' exercise, are well supported. Transform: We continue to support a wide range of Charities.. International, National and Local. During 2024 weekly collections have supported members, choice of Charity Special collections have also supported Christian Aidlcommilment for Life and Mlssion Aviation Fellowship. Our community has also been encouraged to continue collecting items required by the local Food Bank, 'Chellenham Open Door 'and 'Cheltenham Welcomes Refugees,.
CHELTENHAM UNITED REFORMED CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Treasure: Peo le.. Everyone who comes into contact wth us is given a friendly welcome and encouraged to be a positive member of the communily, in whatever way they care to. We value our members, skills across a wide range of life experience. During 2024 our premises have been used by ourselves and ADM Cheltenham {Brazilian Church) to broadcast live stream worship. Church social events are being enjoyed. Our premises are used by many groups and individuals from across the local community. Our support team includes a part time Financial Administrator, Booking sretary. Cleaners, Gardeners, Organists and our Caretaker at Warden Hill. Environmont.. We aim to continue transforming our environment through our enthusiastic focus on environmental issues. We continue to address Issues of energy conservation, by appropriate healing and lighting controls. We gained the A. Rocha Silver ECO Award for Churches in 2020 and are working towards the Gold Award. We have again completed an energy survey and individual carbon footprint suNeys. An ECO yearbook has again been compiled. Members have taken part in the nalion81 bird watch scheme, No-mow May, and events for the 'Big Green Week,. Our lavender is used positively within the community. Bird Feeders ar8 in place In the St Andrew's Garden. Wè have 8 waste recycling point accessible to the community for cardboard, paper, plastic, glass, spectacles, blister packs, stamps, batteries, printer cartridges. cables, and greetings cards. We have a vibrant 'Book Exchang8' and 'pre-loved' Bric-a-Brac stall. Proceeds are for the Spire Fund Appeal, The RegenerdtlonlRepair Cafe, run in partnership with Vision 21 and Ihe University of Glouceslershire, contlnues to Ihrive. Development of part of the church garden into a themed 'Psalm 23 Garden, continues. It is attracting wildlife and is being supported by the local community. The Warden Hill environs are being enhanced. The Manse Garden is maintained as an eco-friendly space. We continue to work with the local council to minimise any concerns regarding parking in the Ioc31 streets or other community issues, We have good relationships with the local traders, and support Heritage Open Days, and 'Ride and Stride. Bulldin We treasure our physical environment through the preservation of St Andrew's listed buildings, and the Warden Hill Centre. Upkeep is ongoing at bolh sites. We maintain the contents of both buildings as fully functioning Churches. Major restoration work on the St Andr8w's Spire is Undeay. Slone suitable for reuse will be restored, and stone surplus to rebuilding requirements will be sold. The heating system at St Andrew's has been upgraded. Flooring damaged by flooding has been replaced at both sites. Windows al Warden Hill have been upgraded. The Manse is maintained to a high Eco-friendly status. We ensure our garden at St Andrew's and the Warden Hill environs provide pleasant public spaces in the heart of each communily. We continue to provide 'Community Space, for hirers of all types at both St Andrew's and Warden Hill.
CHELTENHAM UNITED REFORMED CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The 2023 report Identifled the following objoctlves for 2024 and completed actlons are shown in bold: Church growth To continue to make newcomers welcome and feel part of the church community. To consolidate our SLrnday and Weekday activities. To consolidate our mission opportunilies for familles and older people, To develop our Pastoral Team. To maintain our communications networks. Sunday worshlp contlnue5 to b• at 11.00am. We have contlnu•d to focus on the welcome offered to nowcomers and some have become regular attenders at Sunday worshlp. 'Family Fun Days. and 'Messy Vlntage. have bocom• embedd•d In our programme and have both had a successful year. Th? Pastoral T•am contlnues under th• leadership of R•v laln McLaren and Rev Julle Jefferles We contlnue our use of Ilve-streamlng and zoom. Tho weakly 'Bullotin' has a v•ry wld• clrculatlon. The web slte has boon r•d•v•lopod. Communlty partnorshlps To continue hosting the monthly Repair Cafè on church premises. To continue work towards the A Rocha GOLD ECO Award To continue support of'Herilage Open Days,. To ensure that all hirers, activities are compalible with our m158ion and outreach. To continue to work with the Chellenham Food Bank, Street Pastors, Anna Chaplaincy and Open the Book. To reach out lo Ihe local community with a range of church-based activities. To develop fiiendship with other churches in the community. The Repair Cafo contlnu•s to open on 1st Saturday of tho month wlth contlnued growth. A wide rang• of ECO aCtitIeS have be•n deployed. We are supportlng 6Heritage open days,. We ¢ontlnu• to •nsur• that hlr•rs actlviti•s ar• compatlblo wlth our mlsslon and outreach. We contlnuo to reach out to the local ¢ommunlty wlth ¢hur¢h bas•d actlvltlos. We continuo to support the organlsatlons Ilsted above. We are maklng posltlve frlendships wlth other local church communltles. Splrltuallty and Prayer To continue to use members of our internal Worship Group to lead worship. To continue to support our Bible Study Groups. To develop more links between the churches using our premises. Hlgh standards of worship in the Reformed Tradltlon continue to be maintalned under the guidance of Rev lain McLaren and Rev Jull• Jefferles. Use continue5 to be made of the skllls of the Worship Group. Seasonal Bible Study and Prayer Group have continuod on Zoom. Co-operation between the Churches meeting on our premises and thoso across the North Cotswolds Pastorato of tho URC has d•veloped. Flnance and Property To ensure that our Unrestricted Fund account continues to avoid deficits. To continue to maintain the Church Buildings (St Andrew's and Warden Hill) and Manse to a high standard. To continue the project of developing the Psalm 23 garden for community use. To action the restoration of the spire at St Andrew's To replace windows and doors at Warden Hill with double glazing. We contlnue to be in a sound financlal position. All our Church buildings contlnue to be In good repair. The themed 'Psalm 23. garden at st Andrew's continues to develop. Restoration of the spire at st Andrew's is underway.
CHELTENHAM UNITED REFORMED CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Flnanclal revlew The Trustees are responsible for preparing financial statements that give a true and fair view of the stale of 8ffairs of the Church as at the end of the financial period and of the financial activities for that period. In preparing the financial statements they should ensure that they.. select suitable accounting policies and then apply them consistently. mak8 judgements and estimates thal are reasonable and prudent., slate whether the policies adopted are in accordance with the Charities SORP and with applicable accounting standards, subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on a going concern basis unless it is inappropriale to presume Ihat the Church will continue to function. The Trustees, who meet most months. are also responsible for maintaining adequate accounting records to prepare finanGial statements that comply with the Charities Act 2011 and sufficient internal conlrols to safeguard the assets of the Church and to prevent fraud and other irregularitles. Donna Sutherland has conlinued as treasurer and David Black as chairman of the Finance Committee. Rev lain McLaren as Chair and Mr D Black, will sign off this annual report. They would like to thank members of the finance committee for their ongoing participation and support. The Church's Income is below the level requiring an audit by a Registered Auditor. Instead, a review by an Independent Examiner is appropriate. The Truslees have appointed bk plus Limited of Cheltenham as lThJependent Examiners. bk plus Limited is available for re-eleclion under the provisions of the Charities Act 2011. Fundralslng sources The primary source of funds is from the giving by memb8rs and supporters and the resultant Gift Aid tax reclaims that arise from that giving. The next major source is hiring of rooms when not required for use by the church. Thes8 are often hiring's to organlsalions that we wish to assist as part of promoting the relevance of Christ to non-church service attendees. There are then a variety of other fundraising activities that help promote St Andrew's and the URC with relevance to ils surrounding area and to Cheltenham. Changes in Gift Aid income lend to reftect the changes in donations from major regular supporters. We are always keen to have more people GiftAid to improve our income withoul it costing 5UPPDrters, as taxpayers, anything extra. To help ensure we remain compllant with Gift Aid rules we monitor changes in guidance from HMRC. Legacie5 have been very helpful over the last few years in enabling us to fund improvements to our facilities and the continuation of such receipls, even of small amounts, can assist our futur8. We did receive notification of one legacy in 2024.
CHELTENHAM UNITED REFORMED CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Reserves poIY We have general, unrestiicted, reserves, designated reserves (primarily for properly maintenance) and restflcted reserves relating lo contributions towards the Gost of redevelopment or from outreach collections to assist other charitable activities. Unreslricted funds are needed to cover the support costs for the administrative functions of the Church (Charity) and Ihe costs of support to other parts of the United Reformed Church but may be in deficit if income does not exceed expenditure on a regular recurring basis over the years. Designated feseNes for propety maintenance are to assist with meeting requirements for improvements and maintenance to our facilities that arise from time to time. This reserve d08s help towards ensuring that we can finance matters like healing repairs and replacement entrance doors. Most manse maintenance costs are now financed by the URC West Midlands Trust Limited after a recent reorganisation of responsibilities. The restricted reseNes for redevelopment also help with funding of other major building works such as th8 organ and spire restoration. They also includ8 funds held for special purposes not involving other charlties. The other restricted reserves relate to donations received in trust for us to pass on to other charitable organisalions such as Commltment for Life and Christian Aid. statement of Flnanclal Actlvltl•s The Statement of Financial Activities is shown on page 14 with a MO detailed analysis of income and expenditur8 on pages 17 to 24. Comments under tho maln headlngs as follows: Offertory income from individual members and the associated gift aid lax reclaim has decreased by around 0.50/0 on 2023 in the main due lo decreased plate collections. Incoming resources increased to £263,09212023 £147,156), The main reasons for increased income were the 2024 receipls from grants of £116,640 to assist with the spire restoration and the ECO improvements. Resources expended increased to £348.903 (2023 - £219,379) due to increased maintenance costs, costs on the spire project and a full year of all staff. The variation in the year-end Investment valuations increased general reseNes by £18,090. After transfers of £75,000 to olher funds a general funds loss of £50,958 resulted. This resulted in an overall loss of £65,815. We have a policy of trying to contribute more per head to the United Reformed Church Ministry and Mission Fund than the national average as that helps other churches obtain ministerial pastoral care and il helps church headquarters with its mission targets. That is our major recurring expenditure heading. The next major group of costs are those arising from operating premises being repairs, utilities, and cleaning. The restoration focus in 2024 has been on progressing heating system and energy efficiency work such as double glazing al Warden Hill, which were completed during 2024, and getling the spire restoration work lo circa 40 % completion. Work on the spire had costs, including VAT, of circa £220,000 oulstanding at the year end. Grants of £55,000 have been received in 2025. Unfortunately, delailed inspection of Ihe spire stones early in 2025 identified additional work required. Further grant applications have been submitled to as515t with funding. The general expenditure incurred has improved our ability to give support lo the national church and has enabled us to expand our outreach, particularly to families, people with disabilities, and older individuals who wish lo join a wider fellowship. It has also helped us give assistance to other Christian churches by being able to offer them more facilities for worship.
CHELTENHAM UNITED REFORMED CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Balance Sheet The effect of having inveslments has resulted in 2024 in a gain of £18,090 in the value of our portfolio (2023 gain of £16,442). However, we did realise £65,000 of investments to help fund the spire restoration ar¢d are realising more in 2025. Debtors include one quarter of Gift Aid lax plus a claim under the loose cash aspect of Gift Aid tax regime. Creditors are similar in mix to 2023 but with more retiring collections awaiting remittance. The overall effect of the aclivily on windows, heating and the spire has been a reduction In our year end funds from £322,578 to £256,763. We do not value the Church building due to its nature and relaled recommended accounting praclice, but we advise the insurance value at note 7. However, Ihere are some items that we did capitalise and depreciate and that is explained in note 1. Nothing was capitalised after 2002 until 2014 and nothing has been capilalised since. InveslmentpoliGy The objectives of the Trustees, investment policy are to mainlain adequale liquidity, maintain security of investments, avoid capital losses and have sufficient funds available to finance payments as they fall due The Church aims to invest ethically. Surplu8 fund8 during Ihe year were inve8ted in a bank interest-bearing account to obtain the best possible identified rate of gross interest and in a variety of investment funds to spread our range of iisk and investment return. These are monitored by our finance commrttee and are held in specifically designated Ethical funds wherever possible. Plans for future perlods Church growth To continue to make n8wcom8rs welcome and feel part of the church community. To consolidate and develop our Sunday and Weekday activities, especially our mission opportuni118s for families and older people, through 'Family Fun Days and Messy Vintage,, To continue to develop our Pastoral Team. To maintain our communications networks. Communlty partnershlps To continue hosting the monthly Repair Café on church premises. To continue work towards the A Rocha GOLD ECO Award To continue support of Heritage Open Days, and other wider Cornmunity Events as they occur. To ensure that all hirers, activities are compatible with our mission and outreach. To continue to work with the Cheltenham Food Bank. Street Pastors. Anna Chaplaincy and Open the Book. To reach out to the local community with a range of church-based activities. To develop friendship wilh other churches in Ihe community and across the North Cotswolds Pastorale of the URC. Splrltuallty and Prayer To maintain high standards of worship in the Reformed Tradition under the guidance of Rev laln MGLaren and Rev Julie Jeff&r¢es. To continue to use our internal Worship Group lo lead worship across the Pastorate, when the need arises. To continue to support our Bible Study Groups. To continue developing meaningful co-operation belween the churches meeting on our premises. Flnance and Property To ensure that our Unrestricted Fund account continues to avoid deficits. To continue to maintain St Andrews and Warden Hill church buildings, and the Manse to a high ECO standard for the benefit of the local community and pastorate. To complete the resloration of the spire at St Andrew's. To continue fund raising for the Spire restoration through events, grants sponsorship and goodwill offerings. To continue developing the, Psalm 23, garden for community use.
CHELTENHAM UNITED REFORMED CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 structurei governance and management TrLJsls distilled from the United Reformed Church Acts (1972 and 1981) and Scheme of Union (1972). Charity constltution The Church is a constituent part of the United Reformed Church that was formed by Act of Parliament in 1972. We are a registered charity in the name of'cheltenham United Reformed Church,, Reg No 1134130. The individual members of the Church meet four limes per annum and in between management is delegated to the Minister plus Elders (Trustees) and Officials elected at the annual general meeling. Elders have authority to prepare reports for and deal with business between Church meeb'ngs. Recruitmont and appolntment of new trustees Members become trustees on being appointed and ordained as Elders. Elders serve a three year term and can be re-elected for a further term, after which a sabbatical of one year must be taken. Officers are appointed by the Church meeting and re-elected annually. Selectlon is from discussion amongst existing or retiring officers and approach lo those considered suitable. Training is available for positions both in situ and by altendance at courses for new Elders, within the West Midlands Synod. Trustees and committo•s Details on Irusleas will be updated after our annual general meeling on 1 June 2025 as there may be changes on that date. Re-elected refers to someone already an ordain8d elder. The following committees are responsible for specific elements in the life of the Church: Finance, Premise8 and the Chellenham Unlted Reformed Church Council. The Finance Committee has authority from the Church meeting and Elders to decide on finance related matters. Decisions are reported lo Elders and Church meetings. The Finance Committee is primarily made up of those involved in running the Church finances but there are representatives from Elders and ordinary Church members as well. Related parti•s The Cheltenham United Reformed Church is a grouping within the United Refomed Church to enable two churches in Cheltenham and 2 other churches to share pastoral care from one minister. As such all contribute to certain costs that are shared between the churches, including a weekly newsletter for Ihose attending the churches and certaln administrative functions. In 2024 the amounts contribuled totalled £4,380 (2023 - £2.280). This charity is not the beneficial owner of any items involved so nothing extra is incorporated into these financial statements. Titles to all churches and one manse in Chellenham are held in the name of the United Reformed Church (West Midlands) Trust Limited who deal with major repairs and insurance for the manse. We maintain and insure the churches locally. Rlsk management The major financial risk for the Church would be a failure to generate sufficient income to pay for our commitments to the United Reformed Church Ministry & Mission Fund and the North Cotswolds Pastorate. As a large proportion of the required incorne is earned from giving by individual members and the tax r8funds that generates, the Finance Committee monitors the results very closely and reports concerns. Risks that may relate to the loss or damage to assets are minimised through the use of guideline5 and regular inspections.
CHELTENHAM UNITED REFORMED CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR EJVDED 31 DECEMBER 2024 Statement of trustees. responsibilities The trustees are responsible for preparing the Report of the Trustees and the financial statement5 in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales. the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the stale of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the Iruslee&are required to select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charity SORP., make judgements and eslimates that are reasonable and prudent., prepare the financial statements on the going concern basis unless it is inappropriate lo presume charity will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that Ihe financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and Ihe provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities The truslees, report was approved by the Board of Trustees. Rev l D McLaren Trustea Date.. 10-
CHELTENHAM UNITED REFORMED CHURCH INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHELTENHAM UNITED REFORMED CHURCH I report to the trustees on my examination of the financial statements of Cheltenham United Reformed Church (Ihe charity} for the year ended 31 December 2024. Responslbllities and basls 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. I report in respect of my examination of the Charity's financial statements carried out under section 145 of the Charilies Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145{5)(b) of Ihe Charities Act 2011. Independent examlner's statement Since Ihe charity's gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. 1 confirm that l am qualified to undertake the examination because l am a member of the Inslilute of Chartered Accountants in England and Wales, which is one of the listed bodie5. Your attentlon is drawn to the fact that the charity has prepared the financial statements in 8ccordance with the relevant version of the Statement of Recommended Practice applicable lo charities preparing their financial statements in accordance with the Financial Reporling Stsndard applicable in the UK and Republic of Ireland {FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on I April 2005 which is referred to in the extant regulations but has now been wilhdrawn. l understand that this has been done in order for the financial stalemenls to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice. I have completed my examination. I confirm that no matters have come to my attention in connectlon with the examination giving me cause to believe that in any material respect: 8ccounting records were not kept in respect of the charity a8 required by section 130 of th8 Charities Act 2011 . the financial statements do nol accord with those records., or the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounls and Reports) Regulations 2008 other than any requirement Ihat the financial statements give a true and fair view, which is not a matter considered as part of an independent 8xamination. I have no con should be d wn in this rep e ¢om8 across no other matlers in connection with the examination lo which attention in order to enable a proper understanding of the financial statements to be reached. Cinzia Hensl BK Plus Limite 6 Manor Park Business Centre Mackenzie Way Chellenham Gloucestershire GL519TX England Date.. FCA 11
CHELTENHAM UNITED REFORMED CHURCH STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted RestTiCted funds funds 2024 2024 Total Unrestric18d Restricted funds funds 2023 2023 Total 2024 2023 Notes Income and endowment5 from: Donations and legacies hari able Ministry and mission 46,041 19,349 65.390 46.402 14,725 61,127 5.351 111,469 116,820 12,605 12,605 Generating funds Investments Other income 4,494 4,494 1,613 74,775 1,264 1,264 1,416 70,744 1.613 74,775 1,416 70.744 Total Income 127,780 135,312 263,092 131,167 15,989 147,156 Expèndlture on: Ministry and mission Property 98,727 44,017 5,526 198.637 104,253 242,654 100,474 42,478 7,305 9,999 107,779 52,477 Total charltable expendlture 142.744 204,163 346,907 142,952 17,304 160,256 Other expenditure 94 94 186 186 Total expenditur• 142.838 204,163 347,001 143,138 17,304 160,442 Nel gainsl{losses) on investments 18.090 18,090 16,442 16,442 N•t Incomel{expendlture 3,032 (68,851) (65,819) 4,471 (1,315) 3,156 Transfers beeen funds (54,000) 54,000 Net movement In funds (50,968) (14.851) (65,819) 4,471 (1.315) 3,156 Reconclliatlon of funds: Fund balances at 1 January 2024 287,020 35,558 322,578 282,549 36,873 319,422 Fund balances at 31 December 2024 236.052 20,707 256,759 287,020 35,558 322,578 The statement of financial activities includes all gain5 and losses recognised in ihe year. All income and expenditure derive from continuing activities. 12-
CHELTENHAM UNITED REFORMED CHURCH STATEMENT OF FINANCIAL POSITION AS A T 31 DECEMBER 2024 2024 2023 Notes Flxed assets Investments 14 195,406 242,315 Curr•nt assets Debtors Cash at bank and in hand 15 32.744 47.264 15,310 71,145 80,008 86,455 Credltors: amounts falling duo wlthln on• year 16 {18,655) (6,192) Not current assets 61,353 80,263 Total assets loss current Ilabllltlos 256,759 322,578 Tho funds of the charlty Restricted income funds Unreslricled funds 17 18 20,707 236,052 35,558 287,020 256,759 322,578 The financial statements were approved by the trustees on ..w..cthk) acas Rev l D McLaren Trust•• Mr D Black Trust•• 13-
CHELTENHAM UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies 1.1 Basls ol preparatlon The financial statements have been prepared in accordanc8 With the charily's governing document, Ihe Charities Act 2011, FRS 102 "The Financial Reporting Standarij applicable in the UK and Republic of Ireland and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounls in accordance with the Financial Reporting Standard appllcable in the UK and Republic of Ireland IFRS 102)" The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantsge of the provisions in the SORP for charities not to prepare a statanent of cash flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only lo the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statemenl of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial stalemenls are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accountlng policies adopted are sel out below. 1.2 Charltable funds Funds are classified in the manner in which they are generated: The Gener81 (Unrestricledl Fund deals with funds that can be spent generally for furthering the religious and charitable work of the Church and Charity. Deslgnated Funds are funds that have been set aside for specific purposes but which can be returned to the General Fund at any lime if a Church Meeting so decides. Restricted Funds are funds who use is restricted according to the terms on which they were received, e.g. outreach collections for specific causes or the Redevelopmenl Appeal funds. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set oul in the notes to the financial statements. 1.3 Income Income is included when accounted for i.e. when cash is received or when its receipt is considered certain. Tax recoveries on Gift Aid income are recognised on being accounted for by the Ghurch. 1.4 Expendltur? Expenditure is accounted for on an accruals basis and has been classified under headings thal ag9gate all costs related lo the calegory. Governance costs These are principally costs paid to third parties for management purposes. Allocation and apportionment of costs Support expenditure has been allocated directly to the relevant activity cost category. Indirect costs, including premises and office costs, have been allocated on the basis of each activity cost in relation to tolal direct costs. 14-
CHELTENHAM UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR EIVDED 31 DECEMBER 2024 Accounting polici•s Icontlnued) 1.5 Tanglble flxed assets The Church buildings, fixtures and filtings, including the organ, are not fully capitalised in the financial statements as they are considered to be inalienable and historic property and no information as to cost or market value is readily available. The capitallsed redevelopmenl fund depreciation commenced at 10% straight line from 2003 and became fully depreciated in 2012. Income from donation5 and legacl•s Unr•strlct•d ReBtrlcl•d Tolal Vnrestrlctod R•8trlct•d Total fund 2024 funds fund8 2023 fund8 2023 2024 2024 2023 Standing Orders Other Collections Outreach Colleclions Gift aid Oonalions Levies 29,030 4,091 590 29,620 4,091 5,528 9,101 12,672 4.380 26,348 6,270 350 26,698 6,270 7,305 10,205 8,069 2,580 5,526 1,186 12,047 7,305 1,132 5,938 7,915 625 4,380 9,073 2,131 2,580 46,041 19,349 65,390 46,402 14,725 61,127 Income from charltable actlvltles Unr•8trlct•d R•strlct•d funds funds 2024 2024 Total UnroStrIct R•8trlcted funds funds 2023 2023 Total 2024 2023 Minlstry and mission Grants 5,351 111,469 116,820 12,605 12,605 15-
CHELTENHAM UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Income from charitable actlvltles (Continued) Grants analy515 Mlnlstry and Mlnlstry and mission mission 2024 2023 Llsted Places of Worship - VAT grants URC {We5t Midlands) Trust- Buildings URC {West Midlands) Trust- ECO Garfield Weston Foundation Benefact Trust Gloucestershire Historic Churches Trust Bennington Hall Trust 32,629 30,000 22,011 20,000 7,500 4,500 180 12,250 355 116,820 12,605 Incom• from g•n•rating funds Rostrlct•d Restrlcted funds funds 2024 2023 Fundraising events 4,494 1,264 Income from Investments Unr•$trl¢t•d Unr•$trlct•d funds 2024 lund8 2023 Deposit account interest 1,613 1,416 16-
CHELTENHAM UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 other Income Total Total 2024 2023 Hall hiring Sunday coffee Church organisations VAT reclaims Sundry income Token income for electricity Weddings and funera18 72,459 703 67.741 626 115 1,800 194 268 958 655 74,775 70,744 17-
CHELTENHAM UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Expendlture on charltable activltles Mlnlstry Property and mlssion 2024 Total Mlnlstry Property and mlsslon 2023 Total 2024 2024 2023 2023 Direct costs Central maintenance and ministry Ministerial expenses Organist Christian education Outreach collections Church maintenance OrganlPiano maintenance Manse rnainlenance Restoration consultancy Other charitable expenditure 37,980 6,557 3,154 475 8,268 25,6S1 37,980 6,557 3,154 475 6,268 25,651 36,168 5,015 3,240 250 7,685 31,471 36,168 5,015 3,240 250 7,685 31,773 302 1,258 1,258 988 415 5,419 415 5,419 9,999 988 9,999 335 335 81.408 1,258 82.666 89,863 10,301 99,964 Sharo of support and governanc• G05ts (see not• 8) Support 21,825 241,398 263,221 Governance 1,020 1,020 16,946 1,170 42,176 59,122 1,170 104,253 242,654 346,907 107,779 52,477 160,256 Analysls by fund Unrestricted funds Restricted funds 98,727 5,526 44,017 198,637 142,744 204,163 100,474 7,305 42,478 9,999 142,952 17,304 104,253 242,654 346,907 107,779 52,477 160,258 18-
CHELTENHAM UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Support costs allocated to actlvitles 2024 2023 Premlses costs Council tax Insurance Electricity and gas charges Water charges Cleaning and sundries Spire costs 2,546 9,852 13,877 920 15,556 198,637 1,856 7,950 11,233 569 10,569 9,999 241,388 42,176 Admlnlstratlve costs Telephone and intemet Sundries Bookings officer Bank and software charges Finance administrator Stationery and subscriptions Adminislr81iv8 expenses 717 1,459 7,945 1,336 7,929 2,090 357 691 3,682 5,790 216 4,381 1,483 703 21,833 18,948 Governance costs Indep8ndent Examiner Fee 1,020 1,170 1,020 1,170 Totals 264,241 60,292 Ministry and mission Property 22,845 241,396 18,116 42,176 264,241 60.292 19-
CHELTENHAM UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Other oxpondlture Unr•slricted Unrestrl¢t8d funds funds 2023 2024 Catering expenses 94 186 10 Trusteos The Church reimbursed the cost of purchases made by officials and obtained funds arising from the aclivilies of officials, elders (Trustees) and members of the finance committee. No Trustee received any benefit from supply of services. None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. 11 Employees The average monthly number of employees during the year was: 2024 Numbor 2023 Number Employment costs 2024 2023 Wages and 8alaries 2,546 1,856 The total emoluments of employees of the Church were £20,595 (2023.. £16,297). £6,240 for bookings officer. £3,154 for organist expenses and £11,201 for other staff. There were no employees whose annual remuneration was more than £60,000. 12 Taxatlon The charity is exempt from corporation tax on its charitable activitie5. It is not, however, exempt from VAT and Irrecoverable VAT is included in the costs of those items to which it relates. VAT on building repairs is reclaimed if eligible as there is a facility for listed places of worship to recover some VAT through a grant scheme. -20-
CHELTENHAM UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 13 Tanglble flxed assets Freohold Property Cost At 1 January 2024 182,174 At 31 December 2024 182,174 D•preclatlon and Impalrment At 1 January 2024 182,174 At 31 December 2024 182,174 Carrylng amount The insurance valuation of the Church buildings and content5 is £14,583,663 for 2024125. The charity ceased to be responsible for insuring the Manse as part of a reorganisation of responsibilities between the local churches and Synod in 2024. 14 Flxed asset Inv•stm•nts Llsted Inv•Btments Cost or valuatlon At 1 January 2024 Valuation changes Disposals 242,315 18.091 (65,0001 At 31 December 2024 195,406 CaTrylng amount At 31 December 2024 195,406 At 31 December 2023 242,315 2024 Investments al fair value comprise: Valuation in 2018 Valuation in 2019 Valuation in 2Q20 Valuation in 2021 Valuation in 2022 Valuation in 2Q23 Valualion in 2024 Cost 18,366 39,318 16,788 2,292 (40,889) 16,442 (46,909) 190,000 195,406 -21
CHELTENHAM UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 14 Flxed asset invastmonts {Contlnued) As at 31 December 2024 the market price for the investments had increased by £18,091 {2023 increased by.. £16,442), The movemenl is disclosed as part of incomelexpenditure from generated funés because the investments are incorporated al their closing va5ue at the year end. The decreas8 includes sales of investments, reinvestment of divldends received and management charges. The Chellenham United Reformed Church has a hol(ling in Stewart Investors Asia Pacific Sustainable Fund worth about £23K which is all invested outside the UK, another in CT Responsible Global Equity worth nearly £74K of which only 9% is invested in the UK, and another in Liontrust UK Ethical worth nearly £26K of which 50/y is invested outside the UK. All of these funds were held all of last year although the shareholding in Liontrust UK reduced in 2024. 15 Debtors 2024 2023 Amounts falllng due wlthln one year: Oth8r debtors Glft aid tax recoveries 30,153 2,591 11,668 3,842 32,744 15,310 16 Creditors: amounts falllng due withln one year 2024 2023 Trade creditors Accruals and deferred income 7,164 11,491 6,192 18,6S5 6,192 17 Restrlcted funds The restricted funds of the chaiily comprise the unexpended balances of donations and grants held on trusl subject to specific condilions by donors as to how they may be used. At1 January 2024 Incoming Resources resources expended Transfers At31 December 2024 Redevelopment funds WH Roof Fund Outreach special funds 15,558 20,000 129.786 (198,637) 54,000 707 20,000 5,526 {5,526) 35,558 135,312 (204,163) 54,000 20,707 -22-
CHELTENHAM UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 17 Restrlctod funds (Contlnued) Prevlous year: At1 Incomlng Resources January resources expended 2023 Transfers At31 December 2023 Redevelopment funds WH Roof Fund Outreach special funds 16.873 20,000 8,684 (9,999) 15,558 20,000 7,305 (7,305) 36,873 15,989 (17,304) 35,558 Redev•lopm•nt funds Held for major redevelopment Work the balance in this reserve of £707 al 31 D8cember 2024 is being held for future projects. OutY•ach sp•¢lal funds Outreach collections on behalf of other charities. Rool fund Held for repairs to the Warden Hill Building Roof- £20,000 as al 31 December 2024. 18 Unrestrlcted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific condition5 by donors and grantors as to how they may be used. These include designated funds whlch have been set aside out of unrestricted funds by the trustees for specific purposes, Incomlng R•sour¢•s r•sour¢•s expended Transfor8 Galns and At31 losses Decembor 2024 January 2024 Designated Fund - Property Maintenance Designated Fund- URC in Cheltenham General funds 487 5,351 (26.358) 21,000 480 813 285,720 813 234,759 122,429 (116,480) (75,000) 18,090 287,020 127,780 {142.838) (54,000) 18,090 236,052 -23-
CHELTENHAM UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 18 Unrestri¢t•d funds (Continued) Prevlous year: At1 January 2023 Incoming Resources resources expended Transfers Galns and losses At31 Docembor 2023 Designated fund Property Maintenance Designated fund URC in Cheltenham General funds 346 14,050 (35,909) 22,000 487 1,793 280,410 (980) (1C6,249) 813 285,720 117.117 (22,000) 16,442 282,549 131,167 (143,138) 16,442 287,020 Designated reserves for property maintenance are to assist with meeting requirenpnts for improvements and maintenance to our facilities that arise from time to time. In addition, there were sundry other designated accounts whose combined residual balances at 31 December 2024 are £813 (2023.. £813). Tran8f•r$ b•twoen funds Transfers are made between restricted and unrestricled funds at the end of every accounting period in cases where.. the activity of the restricted fund has come to an end and there is an unspent balance that is nol repayable to the funder(s), when the surplus is transferred to unrestricted funds,. or the restricted fund has commitments and there is little prospect of a sufficiently large surplus in a later period, so the potential deficit is eliminated by transfer from unrestricted funds. 19 Capltal eommltments Contracts for restoration work on our spire and associated professional fees wer6 agreed in 2024 for circa £375.000 including VAT. At 31 December 2024 £220,000 was outstanding. The restoration work is due to be Gompleled during 2025. 20 Rolated party transactions The Cheltenham Uniled Reformed Church i(CURC) s part of a pastorate grouping within the United Reformed Church to enable two churches in Cheltenham and 2 other churches to share pastoral care from one minister. As such we receive contributions towards certain costs incurred by CURC Ihal are shared between the churches, including the weekly newsletter for those attending the churches and certain adminislrative functions. In 2024 the amounts contributed totalled £4,380 (2023.. £2,580). This charity is not the beneficial owner of any items involved so nothing is incorporated into these financial statements. Titles to all three church buildings and one manse in Cheltenham are held in the name ofthe United Refomied Church {West Midlands) Trust Limited. We maintain and insure them in accordance wilh agreemenls between us and the Trust Company. -24-