Charity reglstratlon nurnber 1134130 (England and Walesl CHELTENHAM UNITED REFORMED CHURCH ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
CHELTENHAM UNITED REFORMED CHURCH LEGALAND ADMINISTRATIVE INFORMATION Trustees Mrm Dann Mrs C Drummond Mrs J Kemp Mrs A Kerr Mrs A Lewis Rev l D McLaren Mrs A Stagg Mr D Black Mrs C A PenniThJlon Mts J Evans MT G fizz8id-King Mrs S Tlzzard.King (Appointed 1 June 2025) (Appoinled 1 June 20251 (Appoinled 1 June 20251 Charlty règlstyation 1134130 R•glst8red offlce Montpellièr Str88t Cheltonham GIouc8sl6rshire GLSO 1SP Accountants BK Plus Llmlted 6 Manor Park Business Centie Mackenzi8 Way Cheltenham GloucesteTShlr8 Englanil GL519TX
CHELTENHAM UNITED REFORMED CHURCH CONTENTS Page TNstees' report Ind8pend8nt examinevs report 11 Statement of financial a1to$ 12 ststemenl of financlal posltlon 13 Notes lo the fin8ndal Statements 14-24
CHELTENHAM UNITED REFORMED CHURCH TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 The trustees presenl their annual report and financial ststements for the year ended 31 DeCeMr 2025. The finandal slalements have be8n prepared in ac¢ordane6 with the accountlng pollcles set out in noie 1 to the financial slalemer)ts and comply with the ¢h8riVs governing dMnt, the Charltles Act 2011. FRS 102 'The Financlal Reporting Standard applicable in the UK and Republic of Ireland. and the Charilles SORP Accounllng and Reporting by Charftles.. Slalemenl of Recommended Practi applicable lo chgrilies pr8paring Ihelr accounts In accordance wllh Ihe Financlal Reporting Standard appllcable in Ihe UK and Republic ol Ireland IFRS 1021 Oblectlves and actlvltles Overvlew Sl AndW.$ URC fThe Charlv) and Pre51bury URC. are the constitu&nl parts of Cheltenham Unlled Reformed Church ICURCI. Bolh churches undertake most activities on their own behall. Sl Andrew's manage the Imarden Hill church buildlng. The objecliv8s of (he Charity ale to advanc8 th8 Christlan falth In accordance with the doctrines, principles and practices of the Reformed Tradition as upheld by th8 Unlled R8forrn8d Church. CURC Is now adminIsted as part ol the 'Pastorale of the North Cotswolds. (St Andrews CheFtenham. Preslbury, Broadway, and Brockworthl under thè mlnlst8rf81 dSr8cllon ol Rèv laln McLar6n. (and Rev Julie Jefferies at Prestburyl and through the Wesl Midlands Synod of th8 Unlt8d R8form8d Church. Th8 Ch8rSly's operations are broadly classified as Ministry and Misslon linduding children and youth workl, Training, Prop8rty and Adminislralive Support. l assIslan relating to administration of the Charity and supply of support lo membeT8 and adh8r8nls Is by volunteers. Thls includes a551stance wilh services. oulreach work. publicity, Organising activity groups, maintenance, and Iinance. We are an inclusive church that does not 4Jiscriminate agairist people on grou$ of g8N18r. r8c8. disability. or sÈxuality. Thè agreed Vision Statem8nl' of St Andrews URC, Cheltenham .. 'Through Falth, Fellowshlp and Car8 w8 affirm that Jesus15 Lordl. The Unitgd Reformed Church takes as its guid8 th8 Fiv8 Marks of Mlsslon. 8ecept8d by all thè mainstream churches in England.. These markers are summarised as Tell, Teach, Tend, Transforni and Treasure,. Tell Is about pr8s8ntlng th8 Gospel of J8SU8 and the Word of God for the benefit of all who wlll lislen., Tch is about increasing knowledge and undeTslanding of the Christian faith,. Tend Is aboLrt our response to the challenge ol caring for others. Transform Is about our support for 8Xt8rn818g8nclès. Our Treasure Is in our people. our environment, our listed buildings and our finance,. Our 5cIfiC 8Ctiwtl8s relating to thèse headings during 2025 are reviewed below. Ensuring delivery of the charity's aims and public beneflt In planning the charitys activilies for the year, Ihe trustees kept in mind the ChaTty Commlssjon's guidance on publlc beneflt. Our aims Snclude benefiting the public. This has been a year of further Consolldatlon In all at88g of work. Communlcalions with our membars continues to b8 through a weekly emai18d Bullelln, the websltè, and fatte to facè. Llva str88ming fc>r public worship has continued and developed. This continues to seNe our housebound members and a s16ady SIaM of abs6nlees and enquirers.
CHELTENHAM UNITED REFORMED CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Public b8n8ffl The Iru51ees have paid due regard lo guldance Issued by the Charlly Commlssion in de¢Ing what actlvitlés the charity should undertake. Achlevements and performance 2025 Actlvltle8, Achlevam8nts and Perfonnance Tell: Our MlnSslers, Rev lain McLaren and RÈV Juli8 Jèfleries, vislling minislers. lay preachers and Internal worship groups have continued to provide Sunday worship, preaching arsd witness both in Iradilional forms and in new styles. We have welcomed vlsiling speakers. both al zoom meetings and in peison. We continue to observe the various festivals of the church and have taken part in ecumenlcal aclivlty- Wo ylrlve lo make vlsltors welcom8 lo our services and n8w paople have become associated wlth our worship over the year. Membership numbers have drOpd dighlly due lo n8tur81 caus6S. We make regular use of our Live-streaming t8d)nology, broadcasting all Sunday worship on YouTube. We ale also U3ing'Zoom' for many meetings. I church business and 8V8nis ar6 controlled by the chUh Meeting in conjundion the Elders Meetings. The weekly emailed 'Bullelin' continuos as the major written communication channel across th8 'North Cotswolds Pastorate.. The website is now established un(Jer the 'Norlh Coiswolrts Pastorale, banner. 'In fouch'1$ 8 quarterly publl¢afjon for publiclty purposes. We have a good workino relatlonshlp wlth.. the Evangelical Assembly of God IADM Cheltenhaml who use St Andrews premises for their s8NIc8S. Monthly URC worship services al Warden Hill are now wllhln 'Messy Vintage, meetings The bLJlldlng Is used for Worshlp on Sundays by the Redeemed Christian Church of God IRCCGI. Mlsslon with young Children and families lakes the form of 'Famlly Fun Day., one day in each school holiday. Work wllh the older g8n8ialion Is thrtsugh 'Messy Vintage, and the wdor work of the Anna Chaplalncy in Chellenham and Bighop's Cleeve. The Reading Group Is act8. The Spire Fund Appeal has involvod th8 church Retail oullel, a Concert series, goodwill donabons 8nd grants from many sources. Bookings for the use of C>ur bvildings have been maintain8d during the year, from hirers across the community.
CHELTENHAM UNITED REFORMED CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 T*aeh'. R8gular Sunday hAoming WDrship provides leaching in the Chri$118n faith for all who wll atlend. Slnce summer 2020 worship al Sl Andrews has been broadcast via YouTube. Seasonal prayer meetings and 8lb18 Study groups have taken place by Zoom. Wé hav6 Wayside Pulplts on our publlc noliceboard5 al both sites. We arrange for thé purchas8 oflhe URC Prayer Handbook. Bible Reading Not8s, and trth URC publications. Some members are active supporter8 of Street Pastors In Cheltenham and 'Open the Book. _ taklng Bible Storles into School Assemblies. Tend.. The Pastoral Committee and Eld8rs coxtlnue to monitor need and offer support of pastoral care. Home Communion Is normally provided by our Mlnislers, Rov lain M¢Laren and Rev Julie Jefferies. Our Pastoral 18am vlslts those unable lo be active in the community. We have responded lo r6qu&sls for B8pllsms. Weddlngs. Funerals and Memorials durlng yéar. Representatives allend regional and national URC 8V8nts. We have responded In worship to Nalional Events, tragedies, ECO concems. S&asono1 milesiones. and Christian Feslivals. Our Church Safeguarding Officerworks across the Churches ofthe North Cotswotds Paslorat8. W8 8ncourag6 our community to take advantage of 8xercise opportunlties according to Iheir own preferenc85. 'Footslogg8rs'_ the chuich walklng gioup. and Qi Gong - 98nlle'Eastern' 8Kèrclsa. are well supported. Transform: We continue lo support a wlde range of CharltSès'. Intarnational, National and Local. Durlng 2D25 weekly collections have again supported members, clK>lce of Charity. Special wll8Ctlons have also supported Christian Aidlcornrnilmenl for Life, and partner Charllles In Keriya and Malawi Our communlty has also b&6n encouraged to contSnue collecting items for th8 kjcal Food Bank. 8nd Recycling projects (Vision211.
CHELTENHAM UNITED REFORMED CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Treasure,. Peo Everyone who comes inlo contact with us is given a friendly welcome and encouraged to be a posiliva member of the communlly, In whatever way they re lo. We value our members, skills across a wide range of life experience. Durfng 2025 aur pr8mlses have b88n us8d by ours81vès and ADM Ch81t8nham {Brazlli8n Church) ta br08dcast liv6 stream worshlp. Church soctal Events are bel[ ehloyed, Our premises are used by many groups and individuals from 8cross the local communily. We employ a part tlme Fin8ncial Adminislr8lor, Booklng Sa¢r$tsry. Cleaners, Gardeners, Organists. and offer honoraria lo our Caretsker. Envlronm&nt'. We alm to continv8 transft>mlng our envlronmanl through our enthuslasbc focus on environmental Issues. We are worklng towards the A Rocha Gold Award. We continue to address issues of energy consewaiion. by appropriate heating and lighting controls. We have again compted an enèrgy suNey and individual carbon foolprinl surveys. An ECO yearbook has again been compiled. M6mb6rs have takèn part in th6 nation81 bird walch scham6, No-mow May, and 8vents for the 'Big Green Week.. Bird Feeder8 are in place in the StAndres Ganlen. W8 have a waste recycling point accessible lo the MMunity for cardboard, paper, plastic, glass, spectacles, bli8ler packs, stamps, batteries, printer Eariridges, cables, an(J greelings car(Is. The ReggnerallonlRepair Cafe, lun in parlnarshlp with Vigion 218nd the Univèrsity Ol CloutrShir&, continues to thrive. Development of part of the church garden Into a themed 'Psalm 23 Garden, continues. It is allracling wlldlil8 and Is belng supported by th6 local community. The Warden Hill arwirons have been enhanced wllh a 'Pot Garden, The bjanse Garden is maintained as an ecD-ftlendly space. We continue lo woth wlth the local eouncil to minimis& any concerns regarding parking in the local streets or other community Issues. W8 havè good reFAtionships vAth the local tr*lers. and support Heritage Open Days, and 'Ride and Slrlde., Bulldln We Ireasure our physlcal envlronment through the presarvallon of St Andrews Ilsted bulldinjs, and Ihe W8rd8n Hlll Centr8. Both Church buiklings and the Mansè ar8 maintained to a high ECO-Iriendly slalLJS. The windows at Warden Hill have all been replaced with double glazing. The major refLJrbishmenVrebuilding ol the Church Spire at St Andrews has been ongoing throughout the year. This is now Complete, fin8nced by a range of Grants, Events and Donations.
CHELTENHAM UNITED REFORMED CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 The 2024 report kIente the following objgctÈV8s for 2025 and completed actions are shown In bold.. Church growth To consolldste our Sunday and Weekday activllies. To continue lo make n8WCOtners w6lcome arbd feel part of the church wmmtjnity. Sunday worshlp contlnues to be at 11.00am. We welcome all who will worship wlth us. Somè have cammitted to regular attendance. To consolidale our mlsslon opportunities forfamilies and tsld8r peoplè. To develop our Pastoral Team. To maintain our cammunlcallons n8tworkg. The weekly Bullelln has a very wide clrculatlon. Th• W8bslte Is well used. Community partnèrshlps To continue hosting th6 monthly Repalr Café on church premis6s. To continue work towards the A RoGha GOLD ECO Award To conlinue support of'Her¢lage Open Days.. To ensure Ihal all hirers, aclivltles am compalible with our mlssion and outraach. To continu8 to work with the Cheltenham Food Bank, Slreel Pastors, Anna Chaplalncy and Open Ihe Book. To reach out lo the local communlty wlth a range ol ohurch.based aclivilies. To develop friendship with other ¢hurch8s in th8 community. Spirituality and Pr8y•r To maintain h1gh standards of worshlp in the Reformed Tradition under the guld8nce of Rw lain McLaren. To continue to Use members of our internal Worship Group tu lead worship. To continue to support our Bible Study Groups, through utstlsing 'zoom'. To continue developing meaningful co-operation betW8èn the churches meetlng on our premi$8s, and acro55 Ihe North Cotswolds Pastorate. Flnance and Property To ensure that our Unreslrfcled Fund account contlnues lo avold deficits. To continue to maintain the Church Buildings ISIAndreW$ and Warden Hill) and Manse io a hlgh standard. To continue the project of developlng the Psalm 23 garden far communlty usè. To action the rfjstoralion of the 5plie al StAndrew's. Thls has be8n ongolng throughout 2025 To replace windows and doors al Warden Hlll wlth double glazing.
CHELTENHAM UNITED REFORMED CHURCH TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Flnanclal revlèw The Trustees are responslble for preparing financial statements that give a true and fair view of the state of affslrs ol (he Church as at the end of Ihe financial period and of the financial activities for that perlod. In preparlng thè financlal statements they sholtld ensure that they., S818cl suitable accountin9 policies and th8n apply them ctsnsistently.. make judgements and e8timales that arg r8880nablg and prudgnl.. state whether the policies adopted are in accordance with the Charitigs SORP and with applicable accounting sl8ndards, sublact to any material departures dlsclosed and explained in Ihg financial statem8nls,' prep3re the financtal slalem8n18 on a going concBin basis unles¥ it Is inappioprfate to presume that the Church will continue to funcliLIn. The Trugtees, who meBt most months, ar8 also responsibl8 for maintaining adequaie accounting records to prepar8 financial stateménts that comply with th8 Charitiès Act 20118nd suffici8nt internal contrds lo safeguard the assets of the Church and to prevent fraud and olher Irregularitl8S. aur trttasurèr. Donna Sutherland. took ill in late 2024 and dled In June 2025. David Black has ieplaced h8r as trÉasurar. Rav lain McL8ran as Chair and Mr D S Black. w511 slgn off this annual report. They would like lo thank members of the finance commille8 for Ih8ir ongoing particlpation and sUPPQrt. The Church's Income is below the level requiring an audtt by & Reglstered Audllor. Instead. 8 r8vlBw by an Independenl Examiner is appropriate. The Trustees have appointed BK Plus Llrniled of Cheltenham as Indèp6ndenl Examlnets. BK Plus Llmlted Is avallable for re-election under the provisions of the Charities Act 2011. Fundraislng sourcès The primary source of lut)ds rs from the giving by mernbors and supporters and Ihe r6sultanl Gift Ald lax reclalms thal arise from that giving. The next major source is hiring of looms when not required for use by the church. These are often hiring's lo organisations that we wish to assist as part of promoting the relgvance of Chrisl to non-ohLÈrch service allendees. There are then a valty of oth8r fvndi8islrvJ acUvll88 Ihat hèlp promote St Andrews and the URC with relevance to s surro(tnding area and to Cheltenham. Changas in Gift Aid incom8 tend lo reflect the changes in donations from major regular 8UPPOrters. We arg always k8en to have rnoro p80pl& Gift Aid to improve our income without il costing supporters, as taxpayers, anything extr8. To help ensure we rernaln cornpli8nl wllh Gill Aid wles we monltor changes In guidance from HMRC. Legacies have been very helpful over the last few years in enabllng us lo lund Improvements to out facilitiès and the continuation olsuch reIp1s, even of small amounts. can assist our future. We dtd recefve two18gacles In 2025. We continued to fundraisé and obtain grants lowards the cost of our spire restoration project during 2025. Howevar, we needed io obtaln loans to cA)pe wlth th8 hfloW raquirements as additional costs arose.
CHELTENHAM UNITED REFORMED CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Reserves policy We have general, unreslricled. reseNe5. deslgnated tEserves Iprimar£ly for properly maintenance) and restricted reserves lating to contributions towards the cost of redevelopment or from outreach collections to 8SSiSt other charitable activities. Unreslrlcted funds a needed to cover Ihe support costs for th8 adminlstralve fLJnctions of the Church Icharityl and the Gosls ol 8UPPOrt to other parts of the United Refomed Church bul may be In deficit if income does nol exceed eXperltUre on a regular recurring basis over thè y6ars. We consider that oui unrestricted r858rve8 should be at least six months of unreslriotèd 8xpendlture linaluding dasignated reserves arid oxpendilurel. Th& financAal support required to complet8 the spire r8Storation project has r&su118d in our reserves just exceeding this amounl so we need to rebuild our reserves in 2026. Designatsd reserves for property maintenanc8 are to assist with meeting requirements for improvements and maintenance to our facilities that 8riS8 from tÈme to lime. This reserve does help towards ensuring that we can financ8 matlars like hgalillg r8p3irs and replacement entrance doc)rs. Most manse malntenance costs are now financed by th8 URC West Midlands Trust Limited after 8 r8c8nt ieorganlsallon of responslbililies. The reslrlcted reserves for r8d8volopmenl also help with funding of other major building works such as thè oroan and spire reslorafjon. Thoy apso include funds held for special purposes not involving othèr charltles. Thé other reslrlcled reserves relate to donations received In trust for us lo p8ss ori lo other charikble organisations such as Commitment for Life and Chrlsllan Md. statement of Flnanclal Aetlvltlès The St8lamont of Financlal Activilles is shown on page 14 with a more deta116d snaty81s of Income and exp8nLlilure on pages 17 10 24. Comments unde¥ the maln hèadlngs as follows: Offertory income Irom indivldual members and the ossocialod gift aid tsx reclaim has decreased by around O.54k on 2024 in the main duè to decreased plate collections. Incoming resources Increased to £325.90712024- £263,092). The main reasons for Incr8ased income were the 2025 receipts from gran15 of £149,789 to assist wlth th8 splre restoration and thg ECO iMprovennts. Resources expended incteased to £494,104 12024 - £347,001) due io increased maintenance costs, costs on the spire projeot and a full y8ar of all staff. The variation in th8 year-end investment valuations increased gtsnevdl reserves by £2,386. After transfe¥s of £154,000 to other funds a general funds loss of £165,227 resulted. This resu118d In an overall loss or £165,811. However, the loss on unrestricted funds wa5 only £11,227 (surplus of £3.032 in 20241. W8 h8v8 a pollcy of lrying to conlrtbule more per head to the Untted R8formtsd Chtsrch Mlnlslry and Mission Fund than the national average as that helps other chuiGhes obtain ministerial pastoral care and it helps Church headquarters wth ils mission largets. That Is our major recurring expenditur8 heading. The next major group of costs are those arising from opèraUng prémlses being repalrs, utilities, and cleaning. The resloralion focus In 2025 has been on progressing th8 splw rèstor8on work to 100% completion. Work on the spire had cc>sts, Including VAT, of circa £63.OOCI outstandlng at the year end. Grants or £149,788 have been received in 2025. Unfortunately, detailed inspection of Ihe spire stones eady In 2025 identified addlt4onal work r¢qulred. This delayed completion and Increased the costs by over £100,000. The general expendilure in¢urred has maintained our abS11ty to glve support lo the nalion¥l church and has enabled U5 to oxpand our outreach, particularly to familles, peoplè wlth disabilities, and older individuals who wlsh lo Join a wider lellowship. 11 has also helped us give asslstanc8 to oth81 Christian churches by beirKJ able to offer Ihem more lacilitles for worshlp..
CHELTENHAM UNITED REFORMED CHURCH TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Balanca Shaet The effect of having investments has resv1teil iri 2025 in a g&ln of £2,386 in thE value of otsr portfolio12024 galn ol £18,091 l. However, we did realise £70.000 of investments to help fvnd thg spire restoration projgct. Debtors include one quarter of Gift Aid tax plus a claim under the loose cash aspect of GiftAid tax regime. They also include a legacy and the last grant received. Creditors are similar in mix to 2024 other than the significant Iiicrease in spire related costs as the building work completed so the relention is in accruals. The overall effect of the aCtlty on windows, healing and th8 spire has been a reduction in our ysar end funds from £256.762 to £90,948. We do not value the Church bulldlnu due to Its nature and related recommended accounllng practlce, bul we advbse th8 Insuranc& valLJ8 al note 7. However, Ih8re 8r8 sorne 118ms that W8 dld capltallse 8nd d8pr8clat8 and that Is 8xplalned in note 1. NDlhing was capilalised after 2002 until 2014 artd nothlng has b88n capila14S8d slnca. Investm&ntpolicy The objecllves of the Tnjslees, inveslm6nt policy are to maintain adequate liquidity. maintain security of irEves1rn8Nts. avoid pital losses and have sufficient funds avallable to finance payments a5 they fall due. The church aims to invest elhically. Surplus funds during th8 year were invested in a bank interest-bearing accotJnt to obtain the best possible idenlrfied rate of gross interest and in 8 variety of inveslment funds lo spread our range of risk and investment relum. These are monitored by our finance committee and arè held in specilically designated Ethical funds wherever possible. Plans for future periods Church Growth To make all newcomers welcome. To support and exlend our Pastor31 Team. To consolidate and extend our Mission oppc>rtunities. To maintsin and extend our communications networks. Communlty Partner$hlps To contirTrue working towards A Rocha GOLD Award, through a larg8 range of ECO aclivities. To conlinue 5UPPOrt of Communily Events. To ensure all hirers Aclfvilies are compatible with our mi9sion and outma(th. To continue support of a wld8 rang8 of Local, Natlonal and Int8rn8tional Charitiès. To continue in friendship with local churches. Spirituality and Prayer To maintain a high standard of worshlp In the Reformed Tradition, under the guidance of Rev lain McLaren and the Internal leadershlp of the Worshlp Group. To Gonlinue our support, and development of Study Groups. Flnance and Property To ensure Ihat our Unrestricted Fund account continues to avoid deficits. To complete payments lor the Spire rebuilding proj8et and progress r&payment of loans. To contlnuè to malnt8ln all our buildings to 8 hlgh ECO starard. To contlnue our hlrlng regimes al both Sl Andrews and Warden Hlll to Ihe benefit of the tocal ¢ommunity. To improve the gardens al Sl Andrews lo a high ECO St81ard, for community use.
CHELTENHAM UNITED REFORMED CHURCH TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Structure, governance and managomont Trusts dlslllled from the United Rèformed Church Acts11972 and 19811 and Schem of Unlon119721. Charity constitutlon The Church Is a consliluenl part of the Uni18d Refotm8d Church Ihst w8s formed by Act of Parliament in 1972. We are a reglstered charity in the name of 'Cheltenham United R8forrn8d Church,, Reu No 1134130. The individual m8mbèrs of fh6 Church meet four limes per annum and in beiween management is delegated lo Ihe Minister plus Elders (Trustees) and Officl8ls eleeted at the annu21 general meellng. Elders have aulhority to ppare reports for and deal with businsss betwaen Church metstlngs. Recrultment and appolntmtnt of now trustees Members become Irusloes on boing 8ppointed and ordainEd as Elders. Elders serve a thre8 y8ar tem and can be re-elected for a further term, aft6r which 8 sabbatical of one yaar must be taken. Officers are appointed by the Churd) meeling and re*lecled annualty. Selection Ss from dlscusslon amongst 8xisting or retbring offlcers and approach to thos& consldered suitable. Training is available for positions both In siiltr by attendance al courses for new Elders, wilhill the W8sI Midlands Synod. Trusteos and comMltta•s Det2118 on IrustÈès will be updated after our annual general me81iNg on 3 May 2028 ag thèrè may bé changes on that dale. Re-elected refers10 someone alrea(ty an ordained elder. The follow¢ng committees are responsibl8 for speciflc èlem6nts in the life of the Churd)-. Finance, Premlse5 8nd the Chollenham Unlled Relornied Church Coundl. The Financ8 Corllrnitt88 has authority from the Church meeting and Elders lo decide on finance related matlèrs. DecisH)ns are r8PDrt8d to Elders and Church meetings. The Flnance Committee is primarily made up of those involved in running the Church finallces bul there are iepresentallves from Elders and ordinary ChLJrth members 8S well. Related partles The Chellenham Unrted Refortned Church is s grouping within the United Reformed Church lo enable two Churches in Cheltenham and 2 olher church&s to share pastoral care Irom one minislttr. As such all contribute lo certain costs that are shared between the chu¥ches, including a w88kly n8wslètt8r lor those attending the churches and certain 8dmlnlstrallve functlons. In 2025 the amoLJhts contributed tot8118d £3.96312024 £4.3801. This charty is not the benefici81 own8r of any Items involved so nolhlng extr3 Is incorpora19d into these financlal stalements. Titlos to all churches and one manse in Chellenham ar8 h8ld In the nam8 of th8 United Reformed Church (Wesl Midlands) Twsl Llmlled who deal with major repairs and Insurancè for thé mansè. We maintain and insure the churches locally. Rlsk management The major financial risk for the Church would be a failurts lo g8nerale sufficient income to pay for our commilrnenls to th8 Unlt8d Reformed Church Ministry & Misslcpn Fund and the North Colswolds PasloratB. As a large proportion ol the raquired income Is earned from giving by individual m8mb8rs Ènd the tax refunds that generates, the Finance Committe? tnoriltois the results very closely and reports conc8m8. Risk5 that may ielate to the loss or damage to 8ssets ar8 mlnlmls8d thmugh the use of guidelines and gUlar inspedions.
CHELTENHAM UNITED REFORMED CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Statement of trustees. responsibilities The l¥uslees are responsib for preparing the Report of th8 Trustees and the fift8ndal stat8menls In aecordanc with applicabl6 law and United Kingdom Accounting Slandards (United Kingdom Generally Acc8pl8d A¢counlSng Praetieel. Th8 18w applic8b18 to charKi8s In England and Wales, the Charlttes Act 2011, Charfly (Accounls and R&ports) Regulations 2008 and the provisions of Ihp trust deed requlre5 the trvslees to prepare llnancial siatements for each linancial year which give a true and fair view of tho slalo of affairs of lh6 chailly and ol the incomSng resources Ènd appllcalion of resources. Includlng the income and expenditure, of the charity for that period. In preparing those flnancial slalement5, the trustee5 are requlred tts selocl sui18blg accounting policies and then apply them Ix)nsistentty' observe the methods and princlple5 In the Charfly SORP., ake Judgement5 and estlmates Ihal arè reasonable and prudent., repare the financial slalements on the going concern basis unless (t is inappropriate to pr8sumè 1 charlty wlll conllnue in business. Th8 trustees are responsible lor kegping proper acoountill9 rewrds whiGh disclose with reasonable acEuTacy at any lim8 the financial position ol the charity and lo enable them to ensure that the financial statements Tp]Y with Ihè Charilie5 Aci 2011. thE Charity (Accouiits and Reports) Regulations 2008 and the provisioTlS of the trust de8d. Th8y are also responslble for saleguarding Ihè assets of the charity and hence for taking reasonable steps for ihe pr8V8ntlon and d8t8Ctlon of fraud and oth8r Irregul8rili8s Tha irusiees, repcrtt was approved by the Board of Trustees. Rev l D McLaren Tru$tee Date.. 10
CHELTENHAM UNITED REFORMED CHURCH INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHELTENHAM UNITED REFORMED CHURCH I report lo the Iru81ees on my examination of the financi81 stBtements tsf Ch81t8nham Unlted Reforrned Church (the charity) for the year ended 31 December 2025. Responslbllltles and basls of r8POrt AS th8 trustees of the charity you are responsibl8 for the preparation of the financial statements in accordance th the Iequiremenls of ihe ChaTlties A¢1 2017. report in respect of my examination of Ihe charity's fin8nua1 statÈMÈnts carried out under section 145 of the Charities Act 2011. In carrying out my 8xamin8lion I have followed the Direct(ons given by the Charlty Commlsslon under sectlon 14515llbl of the Charilies Aol 2011. Independent examlnerfs statement Slnc8 th8 charitls gross income exceeded £250,000. the indapèndènt 8xamln8r must b8 a member of a body listed In section 145 of the Charities Aci 2011. 1 confirm that l am qualified to L5ndertake the examination because l am a member of the Insl'tule of Chartered Accountsnls in Englarid and Wales, which Is one of the listed bodies. Your attention is drawn to the facl that the charity has prepared 1Sn8ncl81 sl8t8m8nls in accordan wlh the relevant version of the Slalement of Recommended Practice applic8ble lo charities preparing their financlal slaiements in accordance with Ihe Flnanclal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in prelarance to the Accounting and Reporting by Charities.. Slalemenl of Recommended Practice issued on 1 Apr¢1 2005 which is r616rr8d to in the extant regubations but has now been withdrawrh. l urEdersl8nd that thi8 has been donts in order for the financial statements to provide a true And lalr WEW in 8ccord8nc6 with UK Generally Accepted Accounling Practice. I have comp161ed my 8x8mlnalion. I conflrm that no matters have come to my altention In Ix)nnection with the examlnation gwing mg cause to believe that In any matÈ¥ial r&speot'. accounlinu records wér8 nol k8Pt in respect of the charity as required by section 130 of the Charltias A¢1 2011. the financial statements do not accord th thos9 records., or the financial 81alements do not Comply with th6 applicable requlreTMents concerriing the form and content of financial statements set out in the Charili&s (Accounts and Reports) Regulations 2008 olhor than any requirement that the financlal ststemtsnts glvo a true and fair view, which is nol a malter considered as part of an independent Examination. I have concerns and have come across no other maltars in connecllon th the examination lo which attenllon should be drawn in this report In order to enab18 a proper unLlerslanding of the financial statem8nts lo b6 réached. Clnzla Hensley F 8K Plus Limited 6 Manor Paik Buslness Centre Mackenzle W8y Cheltenham Gloucestershire GL51 9TX England Date..
CHELTENHAM UNITED REFORMED CHURCH STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2025 Unr85trict8d R8strfcted lunds funds 2025 2025 Total Unreslricled Restricted funds funds 2024 2024 Tolal 2025 2024 Notes Income and endowménts from: Donations and legaci8s aritable acilvities Mlnislry and mission 46,545 48,888 95,433 46,041 19,349 65,39 1,144 148,645 149,789 5.351 111.469 116.820 Generating funds Investments Other income 3,382 3,382 673 76,630 4.494 4,494 1.613 74,775 673 76,630 1,613 74,775 Total income 124,992 200.915 325,907 127,780 135,312 263,(2 Expandlture on: Charitabl8 acllviues Ministry and mtssion Prop8rty 76,406 62,019 5.598 349.901 82,004 411.920 98,727 44,017 5,526 198,637 104,253 242,654 Totsl charltsblt expenditure 138.425 355.499 493.924 142,744 204,163 346,907 Other expenditure 180 180 94 Total expendlture 138.605 355,499 494.104 142,838 204,163 347,001 Net gainslllossesl on investments 2,386 2,386 18.090 18.09) Nèt expéndlture 111,2271 1154,5841 (165,811} 3.032 168,8511 165.8191 Transfers beh¥6en funds 1154,0001 154,000 154.0001 54.000 Net movement In funds 1165,2271 15841 1165,8111 {50,9681 114.8511 165.8191 Reeon¢lllalltsn of funds". Fund bal8nc8S at 1 January 2025 236,052 20,707 256,759 287,020 35,558 322,578 Fund balances at 31 Oecambèr 2025 7J,825 20,123 90,948 236,052 20,707 256,759 The statement of financlal actltht18s includ8s all g8Éns and Ioss8$ recognised in the year. All income and expenditure derive from continuing aCtltIes. 12-
CHELTENHAM UNITED REFORMED CHURCH STATEMENT OF FINANCIAL POSITION AS A T 31 DECEM8ER 2025 2025 2024 Notes Fixed assets Investments 14 127,792 195.406 Current as8ets Debtors Cash at bank and In hand 15 72,609 30,028 32,744 47,264 102.637 80,008 Credltors-. amounts falllng due within one year 17 194,4811 118,6551 Nat current as$ets 8,156 61,353 Total assets léss currènt Itabllllle$ 135,948 256,759 redilor8: amounts falllng due after more than one year (45,0001 Nèt aSS8ts 90.948 256,759 The funds ofthe charlty R8strict8d Income funds unrestrled funds 19 20 20,123 70.825 20,707 236,052 90,948 256,759 The financial stalemen18 Woro approved by thè tiuslees on . ijc. Rev l D McLaren Trustee Mr D Black Trustee 13
CHELTENHAM UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accountlng policies 1.1 Basls of preparation The financial statements have been prepared in accordanc8 With the charivs governing docvment, the Charities Act 2011, FRS 102 "The Financial RertlTrg Standard appli¢abl& in the UK and Republic of IrelarKI" 8nd the Charities SORP "Accountlng ar Raporting by Charities.. Slalement of Recornmended Practi applicable to charities preparing their accounts in accordance with the Financiol Reporting Standard applicable th8 UK and Republic of Ireland IFRS 1021.. The charity is a Public B8nefit Entlty 8s defined by FRS 102. The charity has taken advantage of th6 provisSons in the SORP for charltl8s not to prepare a stalemenl of cash flows. The finandal slalements have departed from (he Charities (Accounts and Reports) Regulations 2008 only lo the extent required to provide a IrLte and lalr view. This departure has Involved following the Statement of Re¢omrnended Practi for charilB$ applylng FRS 102 rather than the version ol the Ststement of Recommend8d Practice whlch Is referred lo in th& R8gulatioAs but which has slnce been wilhdravjn. The financial slalements are prepared in starling, which is the functional currency of Ihe charily. Monetary amounts these financial ststements are rounded lo the nearest £. The financial statements have been prepared under tho historical cost convention. The principal accour)Ilng poliaes adopted are sel out below. 1.2 CharitablÈ funds Funds are cla5slfied in the mann8r in which thay arè gen6rated'. The General Iunrestrfctedl Fund deals with funds that can be spenl generalty for furthering the religlous and charitable work of the Church and Chartiy. Designated Funds are funds that have been set askje for specjfic purposes bul vA)l¢h can be returned lo the G8ner81 Fund at any lime il a Church M8eling so decldes. Reslric(ed Funds are funds wFK)se use is restricied accordlng lo the lemis on which Ihey weie reived, 8.g. outreach collections for specific caugas or the Redevelopment Appoal funds. Reslrlcied funi18 are subject to sp8clllc conditions by donoT8 or grantors as to how Ihey may be used. Th8 purposes and uses of th8 reslrict8d funds are sel out in th& notes to financi81 statements. 1.3 Income Income is included when 8ccounlad for i.e. when cash is rec8lved or whèn its receipt is considered certaln. Tax rècov8riès on Gift Aid income are reoognis8d on being accounted for by the church. 1.4 Expendlture Expenditure Is accounl8cI for on an accruals basis and has been cl8ssSfied under headlngs that aggregate all costs related to the category. Governance costs These are piincipally cosls paid to Ihiré parties for management purposes. Allocatlon and apportlonmgnt of costs Support expenditure has been 8lloGated dlredy to the relevanl activity co81 Category. Indirect costs. including premises and offic8 costs, have been allocalgd on Ihe basis ol each actiwly cosl in Telatlon to total direct costs. 14-
CHELTENHAM UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 AGcountlng pollcles Icontlnuedl 1.5 Tanglble fix8d ass8ts The Church buSldings, fixtures and fillings, Including the tsrgan, are not fulty capilalised In Ihe financial slalemenls as they are considered to be inalienable and historic property and no information as to cost or rnarkel valuo is readlty avallablè. The capilalised redevaloprnenl fund d$prèciation commenced al 100A straight Iln6 from 2003 and became lully doprecialed In 2012. Income from donatlons and legacles UDre$trlcted Restrfctatj Total Vnre$trlctod Re51rlctB Total Funds lunds funds 2024 funds 2024 2025 2025 2025 2024 Standlng Ofders Other Cdlections Outreach collectlons GiftAld Donatlons Legacies Levies 28,030 4.951 2.315 558 5,598 6.203 24.214 10.OOD 30,34S 5,509 5.598 14,804 24,214 11,000 3.963 29.030 4.091 590 29.620 4.091 5,526 9,101 12,672 5.526 1.186 12,047 8,601 7,915 625 1.000 3.963 4.380 4.380 46,545 48,888 95.433 46,041 19,349 65,390 Income from oharliabl& actIvIt8 Ut*estrfcted funds 2025 R8Strfct¢d Total UnStlCt8d fund5 2024 Restrlctsd fvnds 2024 Totsl fund$ 2025 2025 2024 Msnlstry and mlsslon Grants 1.144 148,645 149,789 5,351 111,469 116,B20 15-
CHELTENHAM UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 In¢om• from charltable actlvltSo8 Icontlnued) Grants analysls Mln15try and Mlnlstry and mls8ion mlsslon 2025 2024 List8d Places of Worship- VAT oranls URC (West Midlands) Trust- Buildings URC (West Midlands) Trust- ECO Garfield Weston FoLJnd8tlon Benefact Trust Glouces18rshlre Hlstorio Churches Trust Benninglon Ho11 Tiusl Congregatlonal & General Charltabla Trusl Bernard Sunley Foundation URC Twsl- C8nlral Bulldings Fund Enovert Trust URC {Wesl Midlands) Trust- Pulpit suppty 43,942 32,629 30,000 22,011 20.000 7,500 4.500 180 100 25.000 5.000 25,000 50,000 747 149,789 116,820 Income from g¢n¢ratlng funds Re5trlcted funds 2025 Restricted lund5 2024 Fundr8isiThJ events 3,382 4,494 Incom8 from Invastments Unro8trl¢ted lunds 2025 Unrestrlcted funds 2024 Oeposil account interest 673 1.613 16-
CHELTENHAM UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 other Incomè Total Totsl 2025 2024 Hall hiring Sunday coffge VAT r&clalms Sundry income Token income for eleclriclty Weddings and fun8I8ls 74.631 577 11911 958 72.459 703 1.800 194 268 655 76,630 75.424 Expenditure on charitable adivttie5 Mlnlstry and m5sslon Propèrty Total Mlnistry and mlsslon Property Total 2025 2025 2025 2024 2024 2024 Dlreet Costs Central maintenance and mlnlslry Ministerial expenses Organlsl Ghrlstlan eduratlon Outraach collections Church maintenance OrganlPiano maintenance Manse maintenance Other charitablo expendilure 39.878 7.682 3.643 852 6,042 39.878 7,682 3,643 852 6,042 13,578 37,980 6,557 3,154 475 6,268 25,651 37,980 6,557 3,154 476 6,268 25,651 13,578 728 372 728 372 1,258 1,258 988 915 915 335 335 59,012 14,678 73,6 81,408 1,258 82,666 Share of support and govermahce casts18è6 note 8} Support 21.738 397,242 Governance 1,254 418,980 1,254 21,825 1,020 241.396 263,221 1.020 82.004 411,920 493,924 104,253 242.654 346.907 Anatysls by fund Unr8slri¢ted fund8 Restricted funds 76,406 5,598 62,019 349,901 138.425 355,499 98.727 5.526 44,017 198,637 142,744 204.163 82,004 411,920 493.924 104.253 242,654 346.907 17-
CHELTENHAM UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 SLEPPOrt costs allo¢ated lo aetlvltles 2025 2024 PrÈmlses costs Co¢Jncil lax Insurance Electricity and ga3 charges Water thargès Cleaning and sundries Spira costs 268 10,050 19,944 1,010 16,Q69 349,901 2,546 9,852 13,877 920 15,556 198.637 397,242 241.388 Adminlstratlve costs Telephone and In18rno1 Sundries Bookings officer Bank and software charge5 Flnance administrator StBtionery and subscrfpllons Adminlslralive expenses Spire interest 1,180 228 8,151 750 8.324 2,350 144 611 717 1.459 7,945 1,336 7,929 2,090 357 21,738 21.833 Governancè costs Independent Exarniner F88 1.254 1,020 1,254 1.020 Totals 420,234 264,241 Ministry and mission Property 22.992 397.242 22,845 241,396 420.234 264,241 18-
CHELTENHAM UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEM8ER 2025 other expendlture UNe8lrl¢ted funth Unre$frlcted fundts 2025 2024 Catering expenses 94 10 Trustees The Church relmbursed the cost of pur¢has8s made by offieAats and obtained funds arising from tho octlvltles of offiolals, elders (Trustees) and members of the ftnance ¢ommlllee. No Trustee received any benefit from supply of s8rvic8S. The wlfe of one of the trustees Yecèived ramun6rallon of £6,240 durtng the year. No further b8nèflts wer8 red by Ihe trustees from the charity during th8 y8ar. 11 Employees The av8r89¢ monthly number of employees durfng th8 y88r was= 2025 Number 2024 Numbor Employment costs 2025 2024 Wages and salari&s 268 2,546 Th8 lolal emduments of employees of the Church were £21.11812024'. £20,595). There wor& nc* employees whose annual remungr8tion was more than £60.000. 12 Taxatlon The charity is exempl from corporation lax on ils charItae actlvlties. It is not, however, exempl from VAT and irrecoverable VAT is Included In the costs ol Ihose Items lo whlch 11 relates. VAT on bullding repairs is reclalmed if eligible as ther8 Is a facllily for listed places ol worship lo r6cover some VAT Ihrough a grant scheme. The charity's ability lo recover VAT through the VAT recovery schome finished in November 2025 when 11 reached the eligibility limit for 2025126 of £25,QOO. The scheme ended at 31 March 2026. 19-
CHELTENHAM UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 13 Tangible flx¢d 0S$•ts Froehold Property Cosl Al 1 JanLry 2025 182,174 Al 31 Dèc8mb&r 2025 182,174 D•pr•clatlon and Impalrmant At 1 Janu8ry 2025 182,174 At 31 Decemb8r 2025 182,174 Carryiho amount Thè Insurance valuation of the Church buildings and contents is £17,025,360 lor 2025126. The ch8rity ceased to b8 r8sponsible for Insuring the Manse as part of a reorganisalion of responsibllilies between the local churche5 and Synod In 2024. 14 Flx•d asset Investments Llsted Inve8tmentS Cost or valuatlon Al 1 January 2025 Vgluation d)anges Disposals 195,406 2,386 170,0(X)I Al 31 Decembor 2025 127,792 Carrylng amount Al 31 December 2025 127,792 Al 31 December 2024 195,406 -20-
CHELTENHAM UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 14 Flxed ass9t investments IContlnued} 2025 Inveslments al falr vafue comprise.. Valuation in 2018 V8lu8lion In 2019 Valuation in 2020 Valuation in 2021 Valuation in 2U22 Valuation in 2023 Valuation in 2024 Valuation 2025 Cost 18,366 3g,318 16,786 2,292 14Q.8891 16,442 146,909} 167,614) 190.000 127.792 As al 31 December 2025 the marf(el prlcè for the investments had increased by £2,38612024 incre850d by,, £18,091). Th8 movem8nt Ig dlgclosed as part ol incomelexpenditure from generated funds b8c3u89 Ihg investrnents ar8 incorporated at th8ir c105ing value at the yÈ8r end. The decrease includes sales of investments, reinveslrnenl of dividend8 ceIVed and managemont ch8rgos. Tho Cheltenh8m United Relom)ed Church has a holding in Stewart Inveslo¥s Asia Pacific Sustain3ble Fund worth about £23K whlch is all invesled outslde the UK, another in CT Responsible Global Equity worth near £74K of which only 9% is invested in the UK. and anolher in Llontrusl UK Ethical worth nearly £26K ol whÉch 5.kn is invested oulsido the UK. All of th8S8 funds w8r8 h81d all of last year although the shareholding in Lionlrust UK r8duced in 2024. 15 Dèbtors 2025 2024 Amounts falllng due wlthln one year- oth8r d8btc)rs Glft aid tax recovefies 69.341 3,268 30,153 2,591 72.609 32,744 16 Loans and ovèrdrafts 2025 2024 Other108ns 63,833 Payable wilhln one year Payable after one year 18,833 45,000 All loans are repayable within 5 year8. 21
CHELTENHAM UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 17 Creditors.. amounts falllng due wllhln on¢ y•ar 2025 2024 Loan repayments Tradé creditors Accruals and deferred income 18.833 65,924 9,724 7,164 11,491 94,481 18,655 IB Cr•dltors'. amoLTrnts falllng dua aftar more than one yèar 2025 2024 Notes Loarb repaymen18 16 45,000 19 Rastrlctod funds The reslrthd funds of tha ¢harlly comprlse th8 unoxwnded balances of donations grants held on Irusl subject to specific conditions by donor8 as lo how they m8y be used. At l January 2025 Incomlng rasourctts Resources expended Transfers At31 December 2025 Red&velopmenl funds WH Roof Fund Oulrgach Special Funds 707 20,000 195,317 1349,9011 154,000 123 20.000 5,598 15,5981 20.707 200,915 1355,4991 154,000 20,123 Prèvlous yèar: At l January 2024 Incomlng resources Rasources expended Transfers At31 December 21124 Redevelopment funds WH Rool Fund Outreach speclal funds 15,558 20.000 129,786 1198,6371 54,000 707 20,000 5,526 15,5261 35.558 135.312 1204,1e31 54,000 20,707 22-
CHELTENHAM UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 19 Restrlctsd funds IContlnued} Redevelopment funds Held for major redevelopment work the balance in this reserve of £123 al 31 December 2025 is being held for futuie projects. Oulraach 5P8clal funds Outreach collecllons on behalf of other charStles. Roof fund Hèld for rep8lrs ¢0 th$ Ward&n Hill Bulldlng Roof - £20,JOO as 81310geombar 2025. 20 Unrestrlctod funds Tho unrestricted funds of the charity comprise the unexpgrKJed balances of don8tions and grallts whiGh ore not subject to specific conditions by donors and grantors as lo how Ih6y may be used. These include designaled funds which htiwe been set aside out of urestrted funds by the trusteES for specific purposes. At 1 January 2025 Incomlng re$ource8 Re8ourc88 exp8n(Jed Tran3fer8 Galns and losses At31 D8cember 2025 Deslgnated Fund - Property Maintenance Designalgd Fund- URC in Cheltonham G¢n¢ral funds 114,3061 14,000 174 813 234,759 813 69,838 124.992 1124,2991 1168.0001 2.386 236,052 124,992 1138,6051 1154,0001 2.388 70.825 Pravlous ya#r: At 1 January 2024 Incomlng resources Rèsoureès expended Tr4nsf&rs G#lns and losses At31 Decembèr 2024 Designated Fund - PIop8rty hAalnt8nance Deslgnated Fund- URC In Chellenham Gentsr81 funds 487 5,351 126,3581 21,000 480 813 285.720 813 234,759 122.429 1116.480) 175,0001 18.090 287.020 127.780 1142,838) (54,0001 18,090 236,052 -23-
CHELTENHAM UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 20 Unmstrletèd funds IContinuèd} Designated TeseNes for property maintenance are to assisl wth me8ting requirements for imwovements and maintenance to our facilities that Brise from time lo time. In addition, there weie sundry other deslgn8ted auts whose combbned resklual balances a131 December 2025 are £81312024.. £8131. Transfers b&en funds Transfèrs are madè bèlw88n r8Strlcl8d and unrèstrlcted fLÈnds at Ihg 8nd of 8V8ry accoimliTrJ p8ri0d In cas88 whère.. the aclivity of the reslricled fund has come to an end and there is an unspent balance thal is not repayable to the funderlsl. when Ihe surplus is transferred to unrestricted funds., or the reslricled fund has commSlmenls and Ih8re is little prospect of 8 sufficI6nlly large surplus in 81816r perlod, so tho polonli31 deficit is eliminated by transfer from unreslricled funds. 21 Capitsl cornmltmgnt Contracts for restoration work on our spwe and associated professional fees were agreed in 2024 lor circa £375,000 including VAT. At 31 December 2025 £63.081 was outstanding. Thè restorallon work Is due to be completed during 2028. 22 Related party transactbons The Cheltenham United Reformed Churd) ilCURC} s pèrt of a pastoratè grouping within th8 United R8fortHgd Church to enable Iwo churches in Cheltenh&m and 2 olh8r church8s lo share p3stor31 care frorn one minist8r. As such we receiva contributions towards certain costs inoijrred by GURC that are shared between the churches, Induding the weokly newsletter for those atlanding the churches and certain administrative functions. In 2025 the amounts ex)ntrlbut@d totalled £3.96312024: £4,380). Thls charlty Is nol th8 b8n8flual own8r of any items Involvèd 80 nothlng Is incorporated into these financlal statements. ri118S to all three church buildings and one manse In Cheltenham are held in the name of the United Reformed Church (Wesl Midlands) Trust LSmited. We malnlaln and Insure Ihem in accordance wlth agreements bètween us and the Trust Company. -24-