ST ANDREW'S CHEAM UNITED REFORMED CHURCH CHARITY Registered Charity No.: 1134905 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Kingston Burrowes Audit Ltd 308 Ewell Road Surbiton Surrey F(r6 7AL
St Andrew's Cheam United Reformed Church Charity Trustees, annual report for the year ended 31 December 2024 Introduction This report is produced in conformance with requirements of FRS 102 and the Statement of Recommended Practice (FRS 102) issued by the Charities Commission. Objectives and Activities Objective st Andrew's Cheam United Reformed Church Charity (hereafter simply called the "Charity") is an unincorporated charity. Its aim is the advancement of the Christian faith for the benefit of the public in accordance with the Scheme of Union of the United Reformed Church. In pursuing this objective, the trustees of the Charity have paid due regard to the Charity Commission's guidelines on public benefit. Aims and Activities The aims of the Charity are summarised in the mission statement of the Church, namely to know Christ and to make Christ known" The activities of the Charity are manifested in the activities of the St Andrew's Cheam United Reformed Church (hereafter simply called "the Church"). One aim is to provide ongoing local support and resources for those who wish to deepen their understanding and practice of the Christian faith and live according to Christian principles. Broadlyi activities devoted to that aim include: Providing regular services for Christian worship and personal Christian development for adults, children and young people. and Encouraging and facilitating Christian fellowship amongst Church members, adherents and friends. Providing funds to the central administration of the United Reformed Church for the training and financing of ministers. A second aim is to advance the Christian faith by pmviding funds to support Christian charities and missionaries which or who have a geographical remit wider that of the local area served by the Church. A third aim of the Charity is to provide facilities to serve the local community in various ways consistent with the Charity's overall objective described above. Activities devoted to that aim include:
Providing facilities and support for Church-associated local youth uniformed organisations such as Rainbows, Brownies, Beavers, Cubs and Scouts Making available a preschool for the local community. Making available facilities for local community organisations. Arranging community gatherings to celebrate events of national significance. Achievement of the above aims requires suitable premises, and the Charity is responsible for the upkeep of the Church, three halls and associated premises, and of the residence for the Minister. The Minister is the Rev. Craig Bowman, who shares his ministry equally between Wallington URC and St Andrew's. During the year the following specific activities were undertaken pursuant to the above described aims of the Charity: The elders and others continued to consider initiatives relating to the Whole Life Discipleship programme developed by the London Institute for Contemporary Christianity. Pursuant to that programme, the monthly initiative called "this time tomorrow continued during the year. In those sessions, a member of the congregation is asked to describe what they will be doing tomorrow, what challenges and joys the day will bring to them, and how the congregation can support them in prayer. The objective is to remind ourselves that we are followers of Christ every day throughout our lives, and we carry our Christian beliefs and principles into the world whatever our personal circumstances may be. During the year a pamphlet summarising the main messages of the programme, was produced and distributed to members, adherents and friends of the church. In addition to regular chLJrch services and other gatherings, including Christmas and Easter services, parade services and barbecues for the uniformed organisations associated with St Andrew's and the Remembrance Day service, other events during the year included: A Lent course Christ and the Chocolaterie" led by our minister centred around the film "Chocolat". An Easter toddler's service for the under 5s. A regular social meeting "Tea Laughter and Companionship". A Greek-themed Holiday at Home event. The annual church picnic in the manse garden. A popular and well attended Holiday Club for young people, held over one week in August, on the theme of "An Adventure Cruise" Visits to the church by pupils from a local primary school to hear and ask questions about Christian faith. Visits to the Jesmond Care home to share Christian fellowship with residents. A stall at the local Belmont Festival. A harvest service, with food donations given to the Sutton Food Bank. A teenage social pizza night. Production of an Advent booklet based on St John's gospel, with contribution from members of the St Andrews and Wallington congregations, and from South London Tamil church. As noted elsewhere in this report the Church has active Mission partnerships with individuals and organisations locally and overseas, with regular communications and visits from those we support in prayer and financially. The Church also continues actively to seek to encourage and stimulate the prayer life of our members and sees tangible signs of that strengthening in the life of the Church.
The p-school owned by the Church operated throughout the year at or near maximum capacity, other events of note during the year: During the year we welcomed our new music director Barbara Wadley. During the year work on our new website and online duties calendar for office holders and volunteers was completed and are now operational. The Church had previously been assessed by Synod as entitled to a 750/0 ministry. For the past few years our minister, Revd. Craig Bowman, has shared his ministry with St Andrew's and Wallington URC on a 50.50 basis. The remaining 250/0 ministerial vacancy at St Andrew's has remained open. During the year potential candidates for that role were identified and it is hoped that one of those candidates will be willing and able to take up that role during 2025. With prayer for God's guidance, the Minister and elders of the Church have again tried to respond as well as possible to its mission statement "To Know Christ and to Make Christ Known and they sincerely thank all the many volunteers who gave their time and talents to maintain the work of the Church, and the members friends and adherents who continued to worship and promote fellowship during the year. The Charity intends to try to continue its activities reported above into the future, but CogniseS that there are limits to what can be achieved given its financial and limited volunteer and staffing resources. Financial Review Overview and Policies At the start of the year, the Charity's cash and securities assets consisted of bank deposits, and COIF Charities Investment Ethical Fund units. The trustees, long-term objective is to seek a balance between low-risk bank accounts and higher but still moderate risk dividend- distributing collettive security investments. The Charity is fortunate to have received, over the years, a number of financial gifts which are associated with specific purposes. Those purposes are described more fully in Note 19 to the accounts. About 46 % of the Charity's funds are held in restricted and endowment funds, which do not allow access to those monies except for the specific purposes for which they were given. Unrestricted funds amount to the equivalent of about double a year's normal expenditure. The Charity's income from regular congregational giving, small donations, and income from hall letting are allocated to an unrestricted General Fund. Normal running and maintenance costs and the annual contribution to the URC'S Ministry and Mission Fund a paid out of this Fund. Occasional larger legacies and donations are not normally regarded as part of regular income and are allocated to a designated Special Purposes Fund, which constitutes the Charity's general reserves. Allocations to that fund are allowed to accumulate until such time as the trustees, after consultation with Church Meetingi decide to apply them to special projects consistent with the Charity's objectives. The Special Purposes Fund is regarded as available, if necessary, to cover unexpected and emergency running and maintenance costs if the General Fund should ever fall to an unacceptably low level, currently considered to be six months estimated average running and maintenance costs. Expenditure on the routine upkeep of the Church, three halls and associated premises, and of the residence for the Minister varies from year to year and the trustees feel it prudent to aim to hold in the General and Special Purposes Fund at least one year's estimated average expenditure on such maintenance. In addition, the Special Purposes Fund reserves are maintained to maintain cash flow for regular expenditure against fluctuations in its income.
The Charity's properties date from the 1920's and the trustees and Church Meeting have recognised that work outwith normal routine maintenance is occasionally required to bring them up to modern standards. The designated Special Purposes Fund holds provision for such anticipated upgrades. Donations received by the Church which are specifically stated to be used in pursuance of specific mission and charitable purposes are allocated to a restricted Mission Fund or a restricted Charitable Fund. Some donations are paid out from those Funds to other charities which are able to apply funds to activities covered by those specific charitable purposes which are within the Church's objectives. During the year the Charity supported: a missionary family working with Mission Aviation Fellowship operator, a local charity (Sutton Schools Work) which carries out mission work locally in Sutton schools to help students understand and explore Christianity and to develop spiritually, morally and sociallyi a missionary working for Wycliffe Bible Translators, which provides bibles to Christians worldwide in their native language. the following national charities: Christian Aid, The Trussell Trust, Christians against Poverty and Water Aid. a humanitarian air The Charity also receives income from a separate charity, namely St. Andrews Benevolent Fund, registered number 236198. The Charity disburses such income in accordance with the fund's Governing Document, which provides for support of old people in need, for example to organisations which provide care for such people. A full list of the various Funds operated by the Charityi and of the sums held in each Fund appears in the Notes to the Accounts. The assets of those funds are mainly cash and securities, except for the parcel of land allocated to the Investments Fund. Financial Summar 2024 During 2024 the Charity received the bulk of its income in offerings by members, adherents and friends of the Church, legacies, and hall lettings to organisations and members of the local community. We were particularly fortunate to receive a very large legacy of £371,644 from a loyal and longstanding member of the Church. The two largest expense items this year were an energy cost of £77,818 and our annual Ministry and Mission contribution to Synod of £71,133. The impact of the energy cost was mitigated by a one-off donation by Jelly Beans pre-school to the energy fund totalling £53,725. Fortunately, at the end of the year we were able to sign a new 2-year energy supply contract which should result in significantly lower energy costs in 2025 and 2026. Jelly Beans pre-school is likely to incur recruitment costs next year, and provided £20,000 to the Church as provision for those expected costs. That sum was allocated to a designated Recruitment fund. Income in 2024 exceeded expenditure by £393,655, and total financial assets rose from £994,554 to £1,399,677. However, income was boosted by three exceptional items, namely the large legacy, the one-off donation from Jelly Beans and the provision for recruitment also from Jelly Beans. Those exceptional items should perhaps be discounted to give a more realistic view of normal" income in 2024, and on that basis, expenditure would have exceeded'normal" income by £51,714. At year-end 2024 the Charity held £672,278 in cash, deposited in two bank accounts, one being an interest-bearing savings account, the other a current account. The trustees
consider that those cash holdings exceed what is required to maintain a safe cash flow to fund the Charity's activities and intend during 2025 to reallocate at least one half of the cash total to dividend-yielding collective securities. Since 2022 the Charity has held COIF Charities Ethical Investment Fund Income Units valued at £684,406 at year end 2024. Those securities have met the trustees, investment objectives providing a regular dividend, maintaining a reasonably stable market value, and avoiding investment in businesses which are considered to be inconsistent with the Charity's Christian values. The trustees believe that their long-term objective of seeking a balance between low-risk bank accounts and higher but still moderate risk dividend-distributing collective security investments has been met during 2024. Full financial details are shown in the Statement of Financial Activities. The trustees of the Charity consider that the funds of the Church are adequate to fulfil its charitable obligations. The trustees are aware of no major risks which threaten the continued operation of the Charity. Structure, Governance and Management The Charity's Governing Document is dated September 2009, according to which the Charity comprises all assets and funds held by and on behalf of St Andrew's Cheam United Reformed Church other than the properties held under the trusts declared in Schedule 2 of the United Reformed Church Acts 1972, 1981 and 2000 and those held on other specifically declared trusts. The trustees of the Charity are collectively those members of the Elders, Meeting of the Church who have agreed to serve in that capacity and are qualified to serve as Charity trustees, with the exception of any who have chosen not to serve as trustees. There are no restrictions in the Governing Document to the trustees, powers to make investments. The Church is a local church in the Southern Synod of the United Reformed Church. The Church is governed by Church Meeting, whose procedures are in conformity with the Scheme of Union of the United Reformed Church, at which all full members of the congregation may vote. The trustees of the Charity are responsible for the appointment of new trustees, and the stewardship and administration of the Charity's assets and funds, but in doing so they are guided by Church Meeting. However, the trustees of the Charity have the power to override any decision of Church Meeting which contravenes their obligations as Charity trustees. A management committee reports to the trustees and to the Church meetingi and is responsible making recommendations concerning expenditure, the maintenance of the Church and properties owned by the Charityi and the setting of policies of the Charity, for example health and safety, safeguarding, and data protection policies. At the date of this report, membership of the management committee consists of the minister (Revd. Craig Bowman), the Church secretary (Nigel Dickinson trustee), the treasurer (Alan Walls trustee), two other trustees (Betty Ntow-Aninkora and Julie Jamgotchian) and the office manager (Christy Perry). Reference and Administrative Details The name of the Charity is St Andrew's Cheam United Reformed Church Charity. The Church is a local church of The United Reformed Church (the URC). The Church was founded on 25 January 1924 as part of the Presbyterian Church of England, which merged with other denominations on 5 October 1972 to form the URC, which has its own constitution and rules. The Church is governed according to procedures laid down in its formal governing document.
The Charity registered with the Charity Commission on 12 March 2010 with number 1134905, the Church having previously held excepted charity status under the Charities (Exception from Registration) Regulations 1996. The principal office of the Charity is at.. Northey Avenue, Cheam, Sutton SM2 7HF The Trustees who served as a Trustee during the year and to the date of approval of this report were: Craig Bowman Alan Walls Maggie Macdonald Nigel Macdonald Jenni Dickinson (from 23/3/25) Nigel Dickinson Janette Walls Sophie Easton Pheonah Musi51 lan Philippe (from 23/3/25) Betty Ntow-Aninkora Rosemairi Evison Heather Saint Julie Jamgotchian Elders are nominated by the minister and Elders, Meeting to Church Meeting, which then decides whether to confirm the appointments. If so confirmed, Elders serve for three years and may be re-appointed once. Before appointment, Elders are required to familiarise themselves with the guidance issued by The United Reformed Church, particularly the document "Guidelines on Conduct and Behaviour for Elders" (htt urc.or urc- ministries uidelines-on-conduct-and-behaviour-for- Iders The Trustees of the Charity comprise the serving Elders with the exception of any who have chosen not to serve as trustees. No other bodies are entitled to appoint Trustees. Nigel Dickinson and Nigel Macdonald, as current Trustees of the Charity, hold equally all the shares in Jelly Beans Preschool Limited in trust on behalf of the Charity. The Charity is the beneficial owner of land near the Church and used by the former St Andrew's Tennis Club. Title is held by a Trust with Trustees who are present Trustees of the Charity. Relationships with related parties The Trustees have taken notice of the requirements regarding related party transactions and have disclosed any such transactions which are material in the Notes to the Statement of Fi nancial Activities. In the pursuit of its objective the Charity collaborates from time to time with other charities, including those associated with other churches of the United Reformed Church (heafter abbreviated to URC") and other Christian churches, and from time to time makes donations to other charities whose objectives fall within those of the Charity. Trustees, responsibilities statement The trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Prattice).
The law applicable to charities in England & Wales requires the Trustee5 to prepare financial statements for each financial year which glve a true and fair view of the state of affairs of the Charity and of the Incoming resources and application of resource5 Of the Charity for that period. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them con515tently- observe the methods and principles in Charities SORP 2019 (FRS 102),. make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed. prepare the financial statements on the going concern basis unless It Is inappropriate to presume that the Charity will continue in operation. The Trustee5 are respon51ble for keeplng adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statemerits comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provision5 of the Trust's governing document. 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. Relevant organisations or persons The Charity's bankers are.. Barclays Bank plc 43 High Street Sutton SMI IDR The Charity has investment accounts with CCL4 Fund Managers Ltd Senator House 85 Queen Virtorla Street L(Indon EC4V 4ET The Charity's independent examiner is.. Kevin Flsher FCA '/. Kingston Burrowes Audlt Ltd 308 Ewell Road Sijrbiton SLirrey, KT6 7AL Approved by Trustees on signed on their behalf by: Nigel Dickins Trustee Alan Walls Trustee
INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF ST ANDREW'S CHEAM UNITED REFORMED CHURCH CHARITY I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2024 which are set out on pages 9 to 20. Responsibilities and basis of report As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145{5)(b) of the Act. Independent examlnerfs statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. I confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the Act. or the accounts do not accord with those records., or the accounts do not comply with the applicable requirements conceming the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Kevin Fisher FCA c/0 Kingston Burrowes Audit Ltd 308 Ewell Road Surbiton Surrey KT6 7AL 18" September 2025
ST ANDREW'S CHEAM UNITED REFORMED CHURCH CHARITY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted funds Restricled Endowment fL¢nds funds Total 2024 Total 2023 Notes Incom• and endowments from: Donations and legacies Charitable activities Letting Church and Halls and reimbursed costs Investments 525,547 3,431 1,929 527,476 3,431 111,823 6,512 180,944 49,106 180,944 51,348 155,252 54,338 2,242 Total income 759,028 4,171 763,199 327,925 Expenditure on= Raising funds Charitable activities Other- legal fees 4,730 348,326 8,144 4,730 356,670 8,144 6,752 346.140 6,395 8,344 361,200 8,344 369,544 359.287 Net gains on investments 15 11,468 11,468 37.374 Net incomel(expenditure) 409,296 {4,173} 405,123 6,012 Transfers between funds 19 (17.086) 14,555 2,531 Net movement in funds 392,210 10,382 2,531 405,123 6,012 Reconciliation of funds Total ndS brought foward 19 366.716 510,368 117.470 994,554 988.542 Total funds carried forNard 19 758.926 520,750 120.001 1,399,677 994.554 All income and expenditure derive from continuing activities. The Statement of Financial Activities include all gains and losses recognised during the year. The notes form part of these financial statements.
ST ANDREW'S CHEAM UNITED REFORMED CHURCH CHARITY BALANCE SHEET AT 31 DECEMBER 2024 Note 2024 2023 FIXED ASSETS Tangible fixod assets Investments 14 15 1,246 684,406 1,558 672,938 685,652 674,496 CURRENT ASSETS Debtors Cash at bank and in hand 16 51,290 672,278 55,919 286.251 723,568 342,170 LIABILITIES Creditors,. Amounts falling due within one year 17 9,543 22,112 NET CURRENT ASSETS 714,025 320.058 TOTAL NET ASSETS 20 £1,399,677 £994.554 FUNDS Unrestric16d funds: General Designated 19 19 19 19 175.285 583,641 520,750 120,001 178.768 187.948 510.368 117,470 Restricted funds Endowment funds 19 £1,399,677 £994.554 Approved by the Board of Trustees on IfjL 5l+thrttrJ 10£5 and signed on its behalf by.. Ni6yel Dic -Trustee snn fvl)Jo Alan Walls -Truslee The notes form part of these financial stalemenls 10
ST ANDREWS CHEAM UNITED REFORMED CHURCH CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES a) Basis of re aration The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). the Charities Act 2011 and the UK Generally Accepted Accounting Practice. The financial statements are prepared on a going concem basis and are initially recognised at historical cost convention, modified to include certain items at fair value unless otherwise stated in the relevant accounting policy note. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. b} Incomin reco nition olicies Items of income are recognised and included in the accounts when all of the following criteria are met: The charity has entillement to the funds. any performance conditions attached lo the item{s} of income have been met or are fully within the control of the charity. there is sufficient certainty that receipt of the income is considered probable" and Ihe amount can be measured reliably. c) Ex enditure reco nition Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third paty, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. Expenditure includes those costs of a direct nature which can be allocated to a specific activity. It also includes indirect costs. including g0Veman costs Ihat do not relate to a specific activity but are necessary to support those activities. Support costs are allocated on the basis of staff time. ible fixed assets Tangible fixed assets costing more than £500 are capitalised. Depreciation is provided to write off the cost of each asset over its estimated useful life at the following annual rates= Office equipment Plant and machinery Church and hall equipment 200/0 Straight line 20°/0 Straight line 20 % Reducing balance Thè trustees of the church and manse buildings are the Trustees of the URC Southem Synod Trust who hold them upon trust for purposes connected with St Andrew's URC Cheam. Accordingly, neither the church nor manse buildings are recognised as assets in these financial statements. e) Investments Unlisted investments are initially recognised. and are subsequently stated, at cost. Investment properties are initially recognised at cost or. in the case of donated assets, the market value of the gift in kind. At the end of each accounting period investment properties are restated at market value and any gain or loss is reported in the Statement of Financial Activities. No depreciation is provided on investment properties.
ST ANDREWS CHEAM UNITED REFORMED CHURCH CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 CONTINUED ACCOUNTING POLICIES (continued) Leases Operating lease rentals are charged to Ihe Statement of Financial Activities on a straight-line basis over the period of the lease. g) Pension Costs The charity operates a defined contribution pension scheme for the benefit of its employees. Contributions are charged to the Statement of Financial Activities in the year to which they relate. h) Fund accountin Unrestricted funds are available for use at the discretion of the truslees in furtherance of the general objectives of the charity and which have not been designated for specific purposes. Designated funds are unrestricted funds set aside by the trustees for specific purposes. Restricted funds are those funds which can only be used in accordance with Ihe specified wishes of the donor, or which have been raised for particular purposes. Debtors and creditors Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairments are recognised in expenditure. INCOME FROM DONATIONS AND LEGACIES Unrestricted Funds Restricted Funds Total 2024 Totsl 2023 Donations Grants Legacies Gifts and Gift Aid tax recovery 136.618 1,929 138,547 82,376 2,547 1,000 25,900 371.644 17,285 371.644 17.285 £525,547 £1,929 £527.476 £111,823 Of the £111,823 recognised in 2023, £108,979 was unrestricted funds and £2.844 was restricted funds. INCOME FROM CHARITABLE ACTIVITIES Unrestricted Funds Restricted Funds Total 2024 Total 2023 Church activities 3,431 3,431 6.512 £3,431 £Nil £3,431 £6,512 All of the £6.512 recognised in 2023 related to unrestricted funds. 12
ST ANDREW'S CHEAM UNITED REFORMED CHURCH CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 CONTINUED LETTING CHURCH AND HALLS AND REIMBURSED COSTS Unrestricted Funds Restricted Funds Total 2024 Total 2023 Church and Hall lettings Reimbursed shared costs Income from social 177,022 2,980 942 177,022 2,980 942 152,267 2,985 £180.944 £Nil £180,944 £155,252 All of the £155.252 recognised in 2023 related to unrestricted funds. INVESTMENT INCOME Unrestricted Funds Restricted Funds Total 2024 Total 2023 Rent re1vable Bank interest Dividends 30,493 6,437 12.176 30,493 6,437 14,418 37,627 2,537 14,174 2,242 £49,106 £2,242 £51,348 £54,338 Of the £54,338 recognised in 2023, £52,117 was unrestricted funds and £2,221 was restricted funds. COST OF RAISING FUNDS Direct Costs Support Costs Total 2024 Total 2023 Property running costs £4,730 £Nil £4,730 £6,752 All of the £4.730 recognised in 2024 <2023: £6.752) was charged to unrestricted funds. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES Direct costs Grant funding of activities Support cost Total 2024 Total 2023 Church activities £140,902 £12.606 £203,162 £356,670 £346.140 Of the £356,670 expenditure recognised in 2024 (2023.. £346,140), £348,326 {2023: £337,052) was charged to unrestricted funds and £8,34412023'. £9,088) was charged to restricted funds. 13
ST ANDREW'S CHEAM UNITED REFORMED CHURCH CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 CONTINUED GRANT FUNDING OF ACTIVITIES 2024 2023 Supporting sponsored missionariès Sutton Schools Work Mission Aviation Fellowship WycSiffe Bible Translators Charitable fund disbursements Charitable donations from General Fund Christian Aid The Trussell Trust Christians Against Poverty WaterAid Others 2,500 2,500 2,500 1,331 2,500 2,500 2,500 1,588 1,000 1,000 1,000 1,000 1,000 23 1,000 1,000 775 £12,606 £13,111 DIRECT COSTS Raising Funds Charitable Activities 2024 2023 Ministry and mission Staff costs Teaching and worship Outreach Ministerial costs Property maintenance and management 71,133 50.078 6.845 7.816 5.030 71,133 50,078 6,845 7,816 5,030 4,730 68,290 48,439 4,934 11,790 7,395 6.752 4,730 £4,730 £140.902 £145.632 £147.600 10. SUPPORT COSTS 2024 2023 Church office Church and Halls maintenance and rnanagement Staff costs Governance costs (see Note 11 > 7,563 138,813 54,251 2,535 5,428 132,078 52,475 2,200 £203,162 £192,181 11, GOVERNANCE COSTS 2024 2023 Independent examiner's fees £2,535 £2,200 14
ST ANDREW'S CHEAM UNITED REFORMED CHURCH CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 CONTINUED 12. STAFF COSTS 2024 2023 Salaries and wages Social security costs Pension costs 99,393 2,145 2,791 96,906 1.365 2,643 £104,329 £100,914 No employee reiVed total employee benefits (excluding employer pension costs) of more than £60,000 per annum (2023: Nil). The average number of employees during th6 year was 6 (2023.. 6). No remuneration was paid in the year, or previous year, to key management. 13. TRUSTEES, REMUNERATION AND EXPENSES The trustees received no remuneration or reimbursed expenses during the year (2023.. £Nil). The total amount of donations received without conditions from truslees during the year was £21.140 {2023: £19.480). 14. TANGIBLE FIXED ASSETS Church and Hall equipment Jelly Beans Preschool equipment Office equipment Total At 1 January 2024 Additions 47,018 10,000 1,439 58.457 At 31 December 2024 47,018 10,000 1,439 58,457 Depreciation At 1 January 2024 Charge for the year 45,460 312 10,000 1,439 56,899 312 At 31 December 2024 45,772 10,000 1,439 57,211 Nel Book ValLte At 31 December 2024 £1,246 £Nil £Nil £1,246 At 31 December 2023 £1,558 £Nil £Nil £1,558 15
ST ANDREWS CHEAM UNITED REFORMED CHURCH CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 CONTINUED 15. FIXED ASSET INVESTMENTS Listed Investments Unlisted Investments Investment Property Total Cosumarket value at 1 January 2024 Additions at cost Disposals Net unrealised revaluation gainsl(losses) £417,895 £100 £254,943 £672,938 11,468 11,468 Cosumarket value at 31 December 2024 £429,363 £100 £254,943 £684,406 Historical cost at 31 December 2024 £398,892 £100 £254,943 £653,935 Historical costs at 31 December 2023 £398,892 £100 £254,943 £653,935 2024 2023 Analysis of investm•nt gainsl(losses) Unrealised g8insl(losses) Realised gainsl(losses) 11,468 37,374 £11,468 £37,374 Unlisted investments represent 100% of the Ordinary Share Capital of Jelly Beans Preschool Limited, a company registered in the UK. The shares are held in trust equally by Nigel Macdonald (Trustee) and Nigel Dickinson (Trustee) on behalf of the Church. The investment property is land gifted to the church which currently lies dormant and undeveloped. Its intrinsic value will not become apparent until such time as it is sold or otherwise put to use. Since no sale date or terms have been fixed, and no decision has been made conceming its use, its current vale is inevitsbly subjective and uncertain. There has been no change in the circumstances of the property since it was gifted. Therefore, the trustees consider it reasonable to continue to value it as it was valued by the parties at the time of the gift. 16. DEBTORS 2024 2023 Accrued income - Gift Aid claims Accrued income- Rental income Amounts owed by group undertakings 10.797 2,300 38,193 13,126 4,600 38,193 £51,290 £55,919 17. CREDITORS: 2024 2023 Accrued expenses Other creditors 9,543 21.200 912 £9,543 £22.112 16
ST ANDREW'S CHEAM UNITED REFORMED CHURCH CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 CONTINUED 18. OPERATING LEASES Total future minimum lease payments under non-cancellable operating leases are as follows: 2024 2023 Within one year Between one and five years More than five years 1,200 3,900 1,200 4,800 300 £5,100 £6,300 19. MOVEMENT IN FUNDS Brought forward at 1 January 2024 Carried forward at 31 December 2024 Income Expenditure Transfers between funds Gainsl (losses} Unrestricted funds General funds Designated funds Special purposes fund Energy deficit fund Recruitment fund 178.768 333,376 (361,200) 12.873 11.468 175,285 187,948 371,644 54,008 4,049 {54,008) 20,000 563,641 20,000 366,716 759,028 (361.200) {17,086) 11.468 758,926 Restricted funds Mission fund Charitsble fund Benevolent fund House property fund New horizons fund Investments fund Tenanted Manse fund 969 960 2242 {7,500} (844) 6,531 {116) 6,150 176.907 202.769 124,502 40 8,392 180,719 207,137 124,502 3,812 4,368 (40} 510,368 4,171 (8.344) 14,555 520,750 Endowment funds Endowments fund 117,470 2,531 120,001 £994,554 £763,199 £ (369,544) £Nil £11,468 £1,399,677 17
ST ANDREW'S CHEAM UNITED REFORMED CHURCH CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 CONTINUED 19. MOVEMENT IN FUNDS (cont'd) Comparative figures for 2023 are as follows: Brought forward at 1 January 2023 Carried forward at 31 December 2023 Income Expenditure Transfers beiween funds Gainsl (losses) Unrestricted funds General funds Designated special purposes fund Energy deficit fund 187,310 316,885 {350,199) (12,602) 37.374 178,768 183,851 1,000 4,975 3,097 (4,975) 187,948 371,161 322,860 {350,199) {14,480) 37,374 366,716 Restricted funds Mission fund Charilable fund Benevolent fund House property fund New horizons fund Investments fund Tenanted Manse fund 1,256 1,588 2,221 (7,500} (1,588) 6,244 3,929 173,977 199,409 124,502 40 6,150 176,907 202,769 124,502 40 2,930 3,360 501,857 5,065 {9,088) 12,534 510.368 Endowment funds Endowments fund 115,524 1,946 117,470 £988,542 £327,925 £ (359,287) £Nil £37,374 £994,554 Designated Funds The Special purposes fund was created to hold gifts including legacies which are intended for major projects. Anticipated major projects within the next two or three years include structural remodelling and facilities upgrade of a 1930's dwelling house currently let with rent applied for the benefit of the church's objectives. and improvement of the church's and halls, energy efficiency. The Energy deflcit fund was created to receive donations to be applied annually to defray the substantially increased cost of church and halls gas and electricity consumption in 2024 following the war in Ukraine. The fund will be closed when energy costs fall to normal levels. "The Recruitment fund was created to receive a donation to be applied towards the costs of recruiting staff for the Jelly Beans pre-school. Any unused portion of the fund after recruitment is deemed complete may be transferred to the designated Special Purposes fund. and the Recruitment fund closed.. 18
ST ANDREWS CHEAM UNITED REFORMED CHURCH CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 CONTINUED 19. MOVEMENT IN FUNDS (cont'd) Restricted Funds The Mission fund was created in order to provide financial support to a number of Christian rnissionaries working in the UK and overseas. The Charitable fund was created in order to make donations to other charities whose objectives fall within those of the church. The Benevolent fund was created to receive and disburse the income from St Andrew's Benevolent Fund. registered charity No: 236198. The House property fund was established to provide part-funding of a house for a retired minister and his wife. The New horizons fund is a project established with the purpose of extending the mission of St Andrew's in its service to the local community. The Investments fund was created by the gift of land (over which the church held a legal charge) formerly used by the St Andrews Cheam Lawn Tennis Club. under which, if the land is sold, the proceeds after paying of any debts should be used for capital purposes (e.g. erection of buildings) in connection with St Andrew's. Only in exceptional circumstances should the members of the Church at 8 Special Meeting be invited by the Management Committee to consider any different proposal for its use. The Tenanted Manse fund holds. in accordance with Synod policy, income from the letting of the manse while the church is without a minister, less expenditure made for repairs and maintenance of that propety. The Endowment fund was established several decades ago by an appeal to the congregation to provide funds to be invested, with the income used for the maintenance of the church buildings. 20. ANALYSIS OF NET ASSETS BETWEEN FUNDS Total Funds Total Funds Unrestricted Restricled Endowment funds funds funds 2024 2023 Fixed Assets Current Assets Current Liabililies 430,709 337,760 {9,543) 254,943 265,807 685,652 723,568 (9,543) 674,496 342,170 (22,112) 120,001 £758,926 £520,750 £120,001 £1,399,677 £994,554 19
ST ANDREW'S CHEAM UNITED REFORMED CHURCH CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 CONTINUED Comparative figures for 2023 were as follows,. Total Funds 2023 Total Funds 2022 Unrestricted funds Restricted Endowment funds funds Fixed Assets Current Assets Current Liabilities 419.553 (30.725) (22,112} 254,943 255,425 674,496 342,170 (22.112) 637,511 388.336 {37,305) 117,470 £366,716 £510.368 £117,470 £994.554 £988,542 21. RELATED PARTY TRANSACTIONS Related Party Relationship Details Amount Balance 2024 Jelly Beans Preschool Limited Subsidiary undertaking Hall letting rent Donation income £65,000 £20,000 £38,193 £Nil 2023 Jelly Beans Preschool Limited Subsidiary undertaking Hall letting rent Donation income £49,680 £Nil £38.193 £Nil 20