Charity Registration No. 01134573 Company Registration No. 07031482 IEngland and Wales) BREATHE NEW LIFE CHURCH ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
BREATHE NEW LIFE CHURCH LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr P Jukes MrDFry Mr A T Davies Dr R Pitls MI DA Leese Charity nurnber 01134573 Company number 07031482 Registered office Campus .' City Leek Road Sloke-on-Trent Slaffordshire ST2 8BY Independent examlner K. V. Stsley FCA Bsc (Honsl Graphic House 124 City Road Stoke on Trent ST4 2PH
BREATHE NEW LIFE CHURCH CONTENTS Page Trustees, report Independent examiner's report Statement of financial activities Balance sheet Notes lo the financial statements 9~19
BREATHE NEW LIFE CHURCH TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORTI FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees present their report and financial statements for the year ended 31 December 2023. The financial slalements have been prep8red in accordance with the accounting po5i¢ies set out in note 1 to the financial statements and comply with the Gharily's governing document, the CompJnies Act 2006 and Accounting and Reporting by Charities.. Statement of ReGommended Practice applicable l() charities preparing their accounts i accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191 Oblectlves and activitie5 The objects of the Church are for the benefit of the publi¢. a. To advance the Christian faith in accordance with the statement in such ways and in such parts of the United KingdDm or the world as the directors may from lime to lime think fil., b. To relieve sickness and financial hardship and to promote and preserve good health by the provision ol fvnds, goods or services of any kind including through the provision of counselling and support in Such parts of the United Kingdom or the world as the directors from time lo lime think fil, and c. To advance education in su¢h ways and in Such parts of the United Kingdom or the wodd as the dIrlorS from lime to time rnay think fil. Within that framework we see.. Purpose '. Breathe New Life exists to love God, love people and make disciples. Matthew 22.. 37-39NIV Matthew 28.. 18-20NIV Vision.. We see a people who Breathè New Life. Ouknrking Jttsus centred- Jesus al the centre Df all we do lal the start and during that joumeyl. Rooted- This is discipleship. We discover we are, find our identity and find freedom. Together- We serve and support one another in personal and cotporate growth. Broad-we find our place and step into ministry. Reach -As far as the eye can see we will outreach lo those who don't know God. Core Values.. Passion, Freedom, Kindness.
BREATHE NEW LIFE CHURCH TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORTI (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The Iruslees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. The trustees have also complied with the duly in section 4 of the Charities Act 2006 to have due regard lo the public benefit guidance published by the Charily Commission. Sunday Service, 11 am every Sunday are designed for people to meet, for the Gospel to be preached and lo prepare people to fulfil the mandate as bestowed upon the Christian life. The Online Service continues to operate as an option for those who cannot attend. Each week sees Breathe New Life operating v8rious ministries across the city, impacting the lives of many people. The following is 8 snapshot of those activities. Breathe Klds Church 15 Breathe New Life's programme for kids aged up Its 11 years of age. Breathe Kids now has 2 groups that run on a Sunday morning, where the children enjoy a lime of singing, teaching, games and crafts. Breathe Kids continues lo operate online too Breathe Kids Reload was introduced in September of 2023. This is an outreach programme for year 110 year 6. Reload runs during term time Parentslguardians accompany the children. There is lols to do, craft, games. outdoor play and free refreshments are available. Breathe Youth run weekly events for young people from the age of 11 to 17 at the church premises. Grow a fun, discussion based event and Awaken is the outreach event for the young people to have lols of fun, play games and bring their friends along. The Youth Team took the group for a weekend away and helped raise money lor wheelchairs in Uganda by climbing Snowdon together. Breathe Young A(Jults118+1 is where young people meet, lo support and encourage each other in their faith.They have an active presence on the university ¢ampuses. This Ministry helps connect students lo the life of the church and helps them praclically as they settle into stLJdent life. Courses is an opportunity lo lake next steps on a Christian journey. The Alpha Course, continues lo run as a priority and the church en¢ouraged to attended and bring friends and family. Other Courses are ran as and when a need arises. Small Groups are variDUS groups of people that meet In homes across the city, that look lo encourage people within their faith and to offer pastoral support Communlty Outreach.. Community Hub The Café 15 opened for all on Tuesday mornings. Community Connectlons during the week various groups now have the use of the building. New Friars College, Family by Family and Young al Heart. Community Days During school holiday5 the building is opened tD the cornmunily and a programme is run alongside the Hubb Foundation. Families come along lo enjoy activities and a free lunch. During the Summer of 2022 we hosted weekly Cornmunity Days. Turning Point Fund continued to be used lo help people in need. Links with local schools and community groups continue to grow. Staff Team consists of 7 people, covering a variety of different of roles. Sabbatical - Over the Summer of 2023 the Senior Pastors and their 2 daughters were granted 5abbali¢al from the hurch for a 8-weeks. This was a time for them to rest, recuperate and take lime as a family, away from tho demands of church life and work. MissSons During 2023 the church came together lo raise funds fc>r Wheelchairs for Uganda, through the charity Fathers Heart. A donation of £12100 was made lo the charity A Team of staff and volunteers began pLgnning for a visit lo Uganda in 2024, where they will help assemble and distribute the wheelchairs. Creatlve Team is a gathering of all the creab've ministries in the ¢hurch to work together on collective projects eg Chrislmas Production and the weekly Sunday service5. This team continued to work tirelessly lo ensure Breathe New Life operated online weekly and produced lols of creative and fun for the church family lo connect. Network- Breathe New Life joined the Life Links network in 2019.
BREATHE NEW LIFE CHURCH TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Financial review 11 is the policy of the chaiity that unreslricled funds which have not been designated for a specific use should be maintained al a level equivalent lo three months expenditure. The Twslees consider that reserves at this level will ensure that, In the event of a significant drop in funding, they will be abl& lo continue the Charity's current activities while consideration is given lo ways in which additional fvnds may be raised. The Trustees have assessed the major risks lo which the chanly is exposed and are satisfied that systems are in place lo miligale exposuie l() the major risks. The Trustees seek extensive professional advice and guidance and have comprehensive policies in place lo protect the charity. Structure, governance and management The Charity is a company limited by guarantee and was established under its Memorandum of Association on 27 September 2009 and govemed by its Articles, as amended by the Certificate of Incorporation on change of name dated 2 February 2011. The trustees, who are also the directors for the purposes of company law, and who served during the year were.. Mr P Jukes MrDFry MrA T Davies Dr R Pitls Mr DA Leese Recruitment and appointment of trustees In keeping with the guidelines set out by the Assemblie5 of God, of which Breathe New Life is in fellowship. the church Is required lo have at least three Trustees at any one lime. Pastor Paul Jukes, one of the TrLJStees, is the Senior Pastor and on the payroll Trustees who are not on the payroll will always be in the majority. Should a vacancy arise the Trustees are required lo approach an individual who is believed lo have the ne¢essary experience, commitment and skill set, who is deemed trustworthy by the Iruslees lo worli alongside the team who is credible and confident in complex decision making. Organlsational structure To successfully manage, oversee and develop the charity and its actiwty, the Trustees ensure that appropriate le8dership and teams are in place with the skills and expertise lo lake the charity forward. The Trustees Consider and review all governmentsl a¢tivities through regular documented board meeb.ngs with the day lo day activity of the charity being guided by the Core Leadership Team headed by the Senior Pastors, Paul Jukes. Much of the practical outworking of this guidance is then carried out by the Staff Team who work alongside a significant number Df volunteers from the ¢hur¢h. New Trustees are provided with copies of the Memorandum and Articles of Association, late51 accounts and budgets. and suitable Charity CorNmi5sion guidan including CC3 The Essential Trustee and guidance notes on TheAdvancement of Religion for the Public Benefit. The trustees ensure that regular and quality training is made available to a11 Leaders within the organi5ation slru¢tLJre to develop individuals in their iole and enable greater capacity for not only the person bul the activity they overs. Regular meeting5 are held for all Leaders to come together so that objectives, vision and aims of the charity remain the focus that all the activity works towards. Related Parties Breathe New Life Church Is an Assemblies of God Church.
BREATHE NEW LIFE CHURCH TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The Iruslees, report was approved by the Board of Trustee5. Mr A T Davies Trustee 18 September 2024
BREATHE NEW LIFE CHURCH INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BREATHE NEW LIFE CHURCH I report lo the trustees on my examination of the financial statements of Breathe New Life Church {the charity) for the year ended 31 December 2023. Responslbllltles and basis of report As the trustees ol the charity land also ils direcltsrs lor the purposes of company lawl you are responsible for the preparation Df the financial slalemenls in accordance with the requirement5 of the Companies Act 20[ Ilhe 2008 Actl Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eli9ible for independent examination, I report in respect of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011 Ilhe 2011 Act). In carrying out my examination I have followed all the applicable Directions given by th& Charity Commission under section 14515llbl of the 2011 Act. Independent examiner's statement Since the charity's gross income exceeded £250,000 your examiner musl be 8 member of a body listed In section 145 of the 2011 Act. I confjrm that l am qualified lo undertake the examination because l am a member of Institute of Chartered Accountants in England & Wales, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come lo my attention in connection with the examination giving me cause Its believe that in any material respect.. accDunting records were not kept in respect of the charity as required by section 388 of th& 2008 Act., or the financial slalements do not accord with those records., or the financial statements do not comply with the accounting requ1mentS of section 396 of the 2006 A¢1 other than any requirement that the acGounts give a true and fair view which is not a matter considered as part of an independent examination., or the financial slalemenls have not been prepared in accordance with the methods and principles of the Slalemenl of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in a¢¢ordance with the Financia5 Reporting Standard applicable in the UK ard Republic of Ireland IFRS 1021. I have no concerns and have come acrtsss no Dther matleT5 In connedion with the examination lo which attention should be drawn in this report in order lo Ènable a proper understanding of the financial statements to be reached. K. V. Staley A Bsc {Honsl Graphic House 124 City Road stoke on Trent ST4 2PH Dated.. 18 September 2024
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BREATHE NEW LIFE CHURCH BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Notes Fixed assets Tangible assets 15 560.000 574,000 Current assets Stocks Debtors Cash al bank and in hand 250 250 6,162 143,901 16 125,322 125,572 150,313 Credltors.. amounts falling due within one year 18 116,5031 119,9741 Net current assets 109,069 130,339 Total assets less current liabilities 669,069 704,339 Creditors-. amounts falling due aftgr more than one year 19 130,0571 146,3231 Net assets 639,012 658,016 Th8 funds of the charity Reslricled income fvnds Unrestricted funds - general Unreslricled funds - designated 22 34,608 81,022 523,382 43,934 92,765 521,317 23 639,012 658,016 The company is enlilled lo the exemption from the audit requirement contsined in section 477 of the Companies Act 2006, for the year ended 31 December 2023. The directors acknowledge their re5ponsibilrftie5 for ensuring that the charity keeps accounting records which comply with section 388 of the Act and for preparing financial statements which give a true and fair view of the slate of affair5 of the ¢ompany as at the end of the financial year and of ils incoming resources and application ol resource5, including ils income and expenditure, for the financial year in accordance with the requirements ol sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating lo financial slalemenls, so far as applicable to the ¢tsmpany. The members have not required the company lo obtain an audit of ils financial slalemenls for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable lo companies subje¢l lo the small companies regime.
BREATHE NEW LIFE CHURCH BALANCE SHEET (CONTINUED) AS AT31 DECEMBER 2023 The financial slalements were approved by the Irusl&es on 18 September 2024 Mr A T Davies Trustee Dr R Pitts Trustee Company registration number 07031482 (England and Wales)
BREATHE NEW LIFE CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies Charity information Breathe New Life Church is a private company limited by guarantee incorporated in England and VVale5. The registered office is Campus ". City, Leek Road, Sloke-on-Trenl, Staffordshire, ST2 8B Y. 1.1 Accounting conventlon The financial statements have been prepared in accordance with the charity's governing document, the Cornpanies Act 2006 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to Charities preparing their accounls in acrdance with the Financial Reporting Standard applicabl& in the UK and Republic of Ireland IFRS 1021 leffeGtive 1 January 20191" The charity is a Public Benefit Enlily as defined by FRS 102. The charity has taken advantage tsf the provisions in the SORP for Charities applying FRS 102 Update Bulletin 1 not lo prepare a Statement of Cash FIDWS. The financial statements are prepared in sterling whi¢h is the functional currency of the charity and rounded to the nearest £1. The financial slatemenls have been prepared under the historical cost convention, modified lo include the revaluation of freehold properties. The principal accounting policies adopted are sel out below. 1.2 Golng concern The financial statements have been prepared on a going con¢em basis as the trustees believe that no material uncertainties exist. The Iruslees have considered the level of funds held and the expected level ol income and expenditure lor 12 month5 from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reseNes for the charity Its be able lo continue as a going concern. 1.3 Incoming resources All income is included in the Slalement of Financial Activities ISOFAI when the charity is legally entitled to the income after any performance Conditions have been mel, the amount can be measured reliably and il is probable that the income will be received. For donations lo be recognised the Charity will have been notified ol the amounts and the settlement dale in writing. If there are conditions attach ID the donation and this requires a level of performance before entitlement Can be Dbtained then income is deferred until those conditions are fully met or the fulfilment ol those conditions is within the control of the charity and il is probable Ihal they will be fulfilled Legacies are accounted for when their receipt is certain and can be properly quantified. All of the income is generalSy recognised when it is receivable. Donated facilities and donated professional services are recognised in income at their fair value when their econ()mic benefit is probable, il can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift lo the charity. For example the amount the charty would be willing to pay in the open market for such facilities and services. A corresponding amount Is recogni5ed in expenditure. No amount is included in the financial slalements for volunteer time in line with the SORP IFRS 1021. Further detail is given in the Ttuslees, Annual Report. Fixed asset gifts in kind are recognised in full when receivable and are included at fair value. Income from trading activities includes Income e8med from fundraising events and trading activities lo raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when enlillement has occurred.
BREATHE NEW LIFE CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting polSGles (Continued) Investment income is earned through holding assets for investment purposes such as property. It includes rent receivable. 1.4 Resources expended All expenditure is a¢¢ountecl for on Sn accruals basis and has been classified under headings that aggregate all costs related lo the category. Expenditu is re¢ognised where there is a legal c>r constructive obligation lo make payrnenls lo third parties, it is probable that the settlement will be required and the amount of the obligation can be measLJred reliably. 11 Is categorised under the followng headings. Costs of raising funds includes the expenditure incurred related to fundraising activities and the costs relating lo the trading aclivili&s', Expenditure on charitable activities includes the expenditure incurred relating to the pastoral and ministerial aclivilie5 undertaken by the church. Irrecoverable VAT is Charged as an expense against the activity for which expenditure arose. 1.5 Tangible fixed assets Tangible fixed assets are initially measured al cost and subsequently measured al cost or valuation, net of depreciation and any impairment losses. Freehold land and buildings Fixtures, filtings & equipment 2 /0 slraighl line 200 slraighl line 1.6 Impairment of fixed assèts At each reporting end date, the charity reviews the carrying amounts of ils tsngible assets to delerrnine whether there is Jny indication that those assets have suffered an impairment loss. If any such indallOn exists, the recoverable amount of the asset is eslimaled in Drder lo delèmine the extent of the impairment loss lif any). 1.7 Stocks stock Is valued al the lower of costs and net realisable value. 1.8 Flnanclal instruments The charity ha5 elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Olher Financial Instruments Issues, of FRS 102 to all of its financial in5tiuments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party lo the contractual provisions of the inslrumenl. Financial assets and liabilities are tsffsel. wlh the net amounts presented in the financial slalemenls, when there is a legally enforceable right lo set off the recognised amounts and there is an intention lo settle on a nel basis or lo realise the asset and settle the liability simultaneously. Basic financial assets Basic financial a55els, which include debtors and cash and bank balances. are initially measured at transaction price in¢1uding transaction Costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing Iransa¢tion. where the transaction is measured al the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year ar& not amortised. 10-
BREATHE NEW LIFE CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies (Continued) Basic financial liabilities Basic financial liabilities, 1ncluding creditors and bank loans are initially recognised at transaction pri¢e unless the ariangement conslilules a financing Iransaclion. where the debt instrument Is measured at the present value of the ftjture payments discounted al a market rate of interest. Financial liabilities classified as payable within one year are not amort15ed. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade ciedilors are obligations lo pay for goods or services that have been acquired in the ordinary course ol operations from suppliers. Amounts payable are classified as current liabilities if payment Is due within one year or less. 11 not. they are presented as non-currenl liabilities. Trade creditors are recognised initially al transaction pri¢e and subsequently measured al amortised cost using the effective interest method. Derecognition of financial liabilities Financial IiabiSilies are derecognised when the charity's contra¢lual obligations expire or are discharged or cancelled. 1.9 Taxation The charrty Is an exempl Charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the lesls set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore il meets the definition of a charitable ctsmp8ny for UK corporation lax purposes. 1.10 Retlrement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 1.11 Accumulated funds Restricted funds ale subject lo specrfic conditions by donors as lo how they may be usod. The purroses and uses of the restricted funds are sel out in the notes to the financial slalemenls Designated funds comprise funds which have been set aside al the discretion of the trustees for sCIfiC purposes. The purposes and uses of the designated fLJnds are sel out in the notes lo the financial slalements. Unreslricled funds are available for use al the discretion of the Iruslees in furtherance of the *neral objectives of the charity and which have not been designated for other purposes. Critical accountlng estimates and judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions lo acwunling estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revisitsn affects both ¢LJrrent and future periods. There are nts critical accounting eslimales or judgements that have been made in these financial slalemenls.
BREATHE NEW LIFE CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023 Income from donations and legacie5 Unrestricted Restricted funds funds 2023 2023 Total Unrestricted Restri¢ted funds funds 2022 2022 Totsl 2023 2022 Donations and gifts 255,250 12,100 267,350 268,342 23,959 292,301 Donations and glfts Tithes and offerings GiftAid 215,161 40,089 12,100 227,261 40,089 229,708 38,634 23,959 253,667 38,634 255,250 12,100 267,350 268,342 23,959 292.301 Income froTn charitable a¢tivlties Unrestricted funds 2023 Unrestrl¢ted funds 2022 Church aclivrties 1,437 408 other trading actlvllles Unrestricted Unrestricted funds funds 2023 2022 Cafe sale5 Room hire 6.401 6.035 5.826 3.570 Other trading activities 12,436 9,396 Investments Unrestricted Unrestricted funds funds 2023 2022 Interest receivable 445 12 12-
BREATHE NEW LIFE CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Expenditure on raising funds Unrestri¢ted Unrestricted funds funds 2023 2022 Fundraising and publicity Other fundraising costs 5,720 4,366 Expenditure on charitable a¢tlvltles Church activities 2023 Church activities 2022 Dlrect costs Staff costs Depreciation and impairment Ministries AOG Contribution Heat light and water Repairs and maintenance Telephone and internet Office expenses Insurance Advertising and publicity Travel Hospitality Legal and professional fees Sundry expenses Mortgage interest Volunteer expenses staff Training and Courses Sabbatical 142,865 14,000 44,204 6.844 10,233 17,266 3,034 9,915 4,841 2,058 2,404 1,254 1,833 5,778 2,380 779 1,557 12,147 128,092 14,000 26,035 5.854 10,037 31,936 1,991 9.403 4,354 1,544 1,571 640 1.762 5,404 2,204 844 4,719 283,392 250,390 Grant funding of activities (see note 91 10,000 Share of support and governance costs (see note 10) Govemance 1,560 1,008 294,952 251.398 Analysis by fund Unr&slricted funds - general Unrestricted funds - designated Reslricled funds 257,146 16,380 21,426 229,018 16.204 6,176 294,952 251.398 13-
BREATHE NEW LIFE CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Grants payable Church activities 2023 Grants lo inslilutions.. Lift ministries - Revival projects 10,000 10 Support costs allocatod to activities 2023 2022 Governance costs 1,560 1,008 Analysed beeen- Church activitie5 1,560 1,008 11 Net movement in funds 2023 2022 The nel movement in funds is stated after chargingllcreditingi.. Fees payable for the independent examination of the charty's financial statements Depreciation of owned tsngible fixed assets 1,560 14,000 1.008 14,000 12 Trustees Pastor Paul Jukes received £43,461 12022 - £38,671) as remuneration during the year in recognition of his pastoral ministry. In addition, the charitable company reimbursed him a total of £4,084 {2022 £2,650) in r&specl of expenses incurred in connection with the discharge of his dulles. Wife of Pastor Paul Jukes received £18,751 12022 - £15,244) as remuneration during the year in iecognilion of her leadership in the church. The spouse of another trustee received £11,966 12022- £9,753) as remuneration during the year in recognition of her pastoral ministry. 14-
BREATHE NEW LIFE CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 13 Employees The average monthly number of employees during the year was.. 2023 Number 2022 Number Adminislratitsn Leadership Ministry Total Employment costs 2023 2022 Wages and salaries Social security costs Other pension costs 134,052 4,792 4,021 120.887 3.582 3.623 142,865 128,092 There We no employee5 whose annual remuneration was more than £60,000. 14 Taxation The charity is exempt from taxation on ils activities because all 115 income is applied for chartsble purposes. 15 Tangible fixed assets Freehold lantl and buildings Fixture5, fftt¢ngs & equlpment Total Cost At 1 January 2023 700,000 16,730 718,730 Al 31 December 2023 700,000 16,730 716,730 Depre¢lallon and ifflpairment At 1 January 2023 Depreciation Charged in the year 126,000 14,000 16,730 142,730 14,OOLI At 31 December 2023 140,000 16,730 156,730 Carrylng amount Al 31 December 2023 560,000 560,000 At 31 December 2022 574,000 574,000 15-
BREATHE NEW LIFE CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 16 Debtors 2023 2022 Amounts falling due within year.. PTepaymenls and accrued income 8,162 17 Loans and overdrafts 2023 2022 Bank loans 36,817 52,683 Payable within one year Payable after one year 6,560 30,057 6,360 46.323 Amounts included above which fall due after five years.. Payable by inslalmenls 3,817 20,883 The long-lerm loans are secured by fixed charges over land and buildings on the wesl side of Leek Road, Abbey Hullon, Stoke on Trent registered as SF128131 and SF233572. The loan runs for a period of 20 years which wll end in 2030. The current interest rale is 3.750/0. 18 Credltors.. amounts falling due wlthln one year 2023 2022 Notes Bank loans Other laxalion and social s&¢urity Trade creditors Other creditors Accruals and deferred income 17 6,560 1,980 5,005 866 2,092 6,360 1,548 9,267 779 2,020 16,503 19,974 19 Creditor5- amounts falling due after more than one year 2023 2022 Notes Bank loans 17 30,057 46,323 16-
BREATHE NEW LIFE CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 20 Retirement benefit schemes 2023 2022 Defined contribution schemes Charge lo profil or loss in respect of defined contribution schemes 4,021 3,623 The charity operates a defined contribution pension scheme for all qualifying employees. The assets tsf the scheme are held separately from those of the charity in an Incsependenlly administered fund. 21 Share capltal Breathe New Life Church is a company limited by gu8ranlee and accordingly does not have a share capital. Every mernber of the Company undertakes lo contribute such amount as may be required, not exceeding £1, to the assets of the charitable company in the event of being wound up while he or she is a member, or within one year after he or she ceases to be a member. 22 Restricted funds The restricted funds of the Charity comprise the unexpended balances of donations and grants held on trust subject lo specific conditions by donors as to how they may be used. At 1 January 2023 Incoming resources Resources expended At31 December 2023 Community Fund - Vision Mission International - Fatherfs Heart Mobility Ministry 43,934 19,3261 34,608 12,100 112,1001 43,934 12,100 121,4261 34,608 Previous year- At 1 January 2022 Incoming resources Resources expended At31 December 2022 Community Fund - Vision 26,151 23,959 16,1761 43,934 Community Fund A fund formed by an offering as 8 result of the community focus for 2021. These funds are used for community OLJtreach projects and aclivilies. Mission Internatlonal A fund raised for wheelchairs for Uganda, through the charity Fatherfs Heart rnobilily ministry. 17-
BREATHE NEW LIFE CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 23 Unrestricted funds - designated These are unre51ricled funds which are material lo the charity's activities. At 1 January 2023 Resources expended Transfers At31 December 2023 Own use tangible assets 521,317 116,3801 18,445 523,382 Previous year.. At 1 January 2022 Resources expended Transfers At31 December 2022 Own use tangible assets 528,556 116.2041 8,965 521,317 24 Unrestricted funds The unrestricted funds of the charity Comprise the unexpended balances of donations and grants which are not subject lo specifi¢ Conditions by donors and grantors as lo how they may be used. These include designated funds which have been sel aside Dul of unreslricled funds by the trustees for specifi¢ purposes. At 1 January 2023 Incoming resources Resources expended Transfers At31 December 2023 Own use tangible assets General funds 521,317 1428.5521 116.3801 1246.4861 18.445 136.8901 523,382 1442,3601 269,568 92,765 269,568 1262,8661 118,4451 81,022 Previous year: At 1 January 2022 Incoming resources Resource5 expended Transfers At31 December 2022 Own use tangible assets General funds 528,556 1471,6001 116,2041 1217,1801 8,965 117,9301 521,317 1428,5521 278,158 56,956 278,158 1233.3841 18,9651 92,765 The fixed asset fund has been set up to asslst in identifying those funds which are not free fvnds and it represents the nel book value of fixed assets, less any directly associated borrowings. 18-
BREATHE NEW LIFE CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 25 Analysls of net assets between funds Unrestricted Unrèstrlcted funds funds general designated 2023 2023 Restricted funds Total 2023 2023 At 31 December 2023- Tangible assets Current asselsllliabililiesl Long term liabilities 560,000 16,5611 130,0571 560,000 109,069 130,0571 81,022 34.608 81,022 523,382 34,608 639,012 Unrestricted Unrestricted funds funds general dosignated 2022 2022 Restrl¢ted funds Total 2022 2022 At 31 December2022'. Tangible assets Current assetsllliabililiesl Long term liabilities 574.000 16,3801 146,3231 574,000 130,339 146,3231 92,765 43,934 92,765 521,317 43,934 658,Q16 26 Related party transactlons Transactions with related parties During the year the charity entered into the following transactions with related partie5'. Donations frorn related parties total £44,99812022 £37,300). 19-