## **Maximum Impact Christian Centre aka MICC Chapel of Light**
**REPORT AND FINANCIAL STATEMENTS For the year ended 31 March 2024**
**Charity Number 1134921**
**Maximum Impact Christian Centre aka MICC Chapel of Light**
## **TRUSTEES ANNUAL REPORT For year ended 31 March 2024**
This year has been a season of blessings and growth for MICC. Our mission to glorify God through worship, outreach, and service has touched lives within our communities and beyond. Guided by faith and supported by our congregation, we have embraced new opportunities to share Christ’s love and a holistic gospel.
The trustees are pleased to present their annual report together with the financial statements of the charity for the period ended 31 March 2024
The financial statements comply with the Charities Act 2011, the Memorandum and Articles of Association, and 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) (effective 1 January 2015)
**Leadership Academy**
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1. Chair’s Report -Rev Dr Peter Adegbie
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The report shows you in detail what, where our funding has come from, and our impact over the last year. In our annual report, you will find all the facts and figures as well as stories of what God has been doing.
Within The MICC, the Pastors and Trustees are responsible for the overall direction and governance. However, as the church has grown, we have entrusted other individuals of gifting
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**Maximum Impact Christian Centre aka MICC Chapel of Light**
## **TRUSTEES ANNUAL REPORT For year ended 31 March 2024**
and character with responsibilities in line with their talents and experience, and thus now have a C-Suite of three senior groups that work together to give depth, focus and dynamism to the many areas of a holistic church life and Heritage
We believe in recognising both the gift of leadership in individuals, and the value of relational teams as avenues through which Jesus builds His church. We are heavily committed to ensuring that people get the best care and help we can give them as part of our vision of loving one another excellently and of resourcing and stimulating deep personal transformation. To facilitate this, assisting Dr Peter Adegbie the Founding Pastor, on a day-to-day basis we have the co-Founding Pastor Theodora who works as our Pastoral co-ordinator, Chief Operating Officer and In-house Counsel.
To keep the church motor running smoothly, we also have Pastors T Okpara, J Mbanu, Benoit Musi and a dynamic Steering Committee comprising 10 professionals from diverse industries.
As Trustees of MICC, we firmly believe that following Christ changes lives for the better. However, we accept the right of individuals to have, and to express, differing beliefs or no belief. A central part of the Christian faith is the desire to see justice for all, regardless of age, race, gender, class or religion.
We pledged to follow the Charity Governance Code and assess our governance practises to see how we measured up against the Code. We shall continue to improve the diversity of MICC trustees through the replacement of appointed trustees when existing terms of office come to an end.
The Year 2023-2024 has been a remarkable year of spiritual and community impact for MICC. From increasing attendance at services to launching impactful outreach programmes, and we are excited.
## **2. Objectives and Activities**
The objects are:
- To advance the Christian faith (in accordance with the Statement of Beliefs) in such ways and in such parts of the United Kingdom or the world as the trustees from time to time may think fit
- To relieve sickness and financial hardship and to promote and preserve good health by the provision of funds, goods or services of any kind, including through the provision of counselling and support in such parts of the United Kingdom or the world as the trustees from time to time may think fit
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**Maximum Impact Christian Centre aka MICC Chapel of Light TRUSTEES ANNUAL REPORT For year ended 31 March 2024**
- To advance education in such ways and in such parts of the United Kingdom or the world as the trustees from time to time may think fit
The trustees must use the income and may use the capital of the church in promoting the objects.
MICC Chapel of Light exists to raise Christians who will be agents of change in the community; we support through study and fellowship, the members of the church, teaching the doctrines of the Christian faith. We conduct regular worship services, teaching seminars and prayer conferences. We also provide ministerial services to parishioners in the UK and through our website to the world.
The ministerial services include wedding ceremonies, children dedication and water baptismal services; in addition, we offer counselling services especially to people in courtship and married couples.
## **3.Achievements and Performance in 2023-2024**
## **a. Worship and Spiritual Growth:**
- Our Church was always opened to both onsite and online worshippers throughout the year.
- We have a 365/6-day morning fellowship- Start Your Day with Jesus to strengthen and set a positive empowering tone for the day; This has a worldwide impact apart from its effect on our members who actively participate.
## **b. Community Outreach:**
- We have enhanced our community food outreach by collaborating with other organisations and investing on bulk purchase to distribute to families in need’
- We supported both our members and non-members through our counselling and pastoral care initiatives.
- We also maintain relationship with the elderly by opening our premises up for coffee mornings.
## **c** . **Youth and Family Ministry:**
- The church in the UK is missing a generation of young adults and it has been our main focus to reach and engage young adults not just in a life of faith and church but equipping them with much needed leadership skills based on principles from the greatest leader that ever lived.
We passionately believe that investing in young people is critical both for today and for our future. We have created the young adult group- The Sensational Singles and the
3
**Maximum Impact Christian Centre aka MICC Chapel of Light TRUSTEES ANNUAL REPORT For year ended 31 March 2024**
Maximum Impact Students Association. As a result of this work, we are delighted to see more young people giving their lives to Jesus, finding their place in church communities, excelling in leadership roles as Market place Christians and sharing their faith in Jesus with others
- We run a thriving youth group with 30 active participants, and they have had opportunities to go camping and for other outreaches.
- Children in the community matter so much and we have put into process a family friendly learning hub and homework club.
- We successfully hosted over 12 family-focused events, strengthening relationships within our congregation, updating skills and financial empowerment for both members and non-members.
## **d. Global Mission:**
- We partnered with mission organization to support refugees and the homeless.
- We were able to raise and donated £---------------------------------- for international mission efforts.
## **e. More:**
- We continue to conduct the Remembrance Day celebrations for Southwick and host the community at our Christmas carols. This year, we had a beautiful Gala awards night to honour members of the community.
- Our annual Christmas Day open house to enable anyone in the community to have company, good food and fun is thriving.
- We created a digital web portal to enable the public worldwide to enjoy the paintings in our heritage building
- The Heritage Open days, giving lots of people the opportunity to visit and enjoy the great Arts collection of James Eadie Reed in our Heritage building commenced again
- In a world where agendas and propaganda can skew the message of Christ, MICC through its online multimedia broadcast always seeks to bring a balanced, accessible, credible, and authoritative perspective for the body of Christ and its general audience.
## **4** . **Partnerships:**
We are an independent Christian church with strong relational links with other leaders and churches. We also enjoy fruitful collaboration with the other churches in Sunderland and Newcastle upon Tyne. We are members of Churches Together and members of the Evangelical Alliance of Great Britain and Ireland.
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**Maximum Impact Christian Centre aka MICC Chapel of Light TRUSTEES ANNUAL REPORT For year ended 31 March 2024**
## **5. Reference and administrative details of the charity, its trustees and advisors**
|Charity Name|Maximum Impact Christian Centre (MICC)|Maximum Impact Christian Centre (MICC)||
|---|---|---|---|
||aka MICC Chapel of Light|||
|Registered Charity||||
|Number|1134921|||
|Operational address|Chapel of Light|||
||Cornhill Road, Southwick|||
||Sunderland|||
||SR5 1RU|||
|Trustees|Revd Dr Peter Adegbie||CEO/Senior Pastor|
||Revd Dr John Ameobi||Trustee|
||Mrs Theodora Adegbie||ExecPastor/GeneralCounsel|
||Mr Justin Mbanu||Trustee|
||Mr Tochukwa Okpara||Trustee|
||Pastor Ian Meldrum||Trustee|
||Mr Benoit Musi||Trustee|
|Independent|Michelle Wright|||
|Examiner|MW Accounting Service|||
||Woodgate House|||
||5c Wood Street|||
||Gateshead|||
||NE11 9NP|||
|Bankers||||
||Barclays Bank Plc|||
||Northumberland Street|||
||Newcastle upon Tyne|||
||NE1 7AF|||
||HSBC Plc|||
||110 Grey Street, Newcastle upon Tyne|||
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**Maximum Impact Christian Centre aka MICC Chapel of Light TRUSTEES ANNUAL REPORT For year ended 31 March 2024**
## **6. Structure, Governance and Management**
## **Governing documents**
Maximum Impact Christian Centre a.k.a Chapel of Light has been registered as a charitable organisation since 15 March 2010, number 1134921.
## **Appointment of Trustees**
Trustees are appointed and can serve more than one term.
## **Religious leaders and trusteeship** :
The responsibility and authority for spiritual leadership rests with the recognised spiritual leaders within the church.
Religious leader trustees have the same level of involvement and participation in decision making as all the other trustees. All decisions concerning the charity are taken by the trustees acting together. The trustees, however, must look to those trustees with spiritual authority for guidance on spiritual matters and bear in mind the spiritual direction of the church and the views of the spiritual leaders.
## **Volunteers**
Volunteers have been a very major part of our charity. They are given platforms which enable them to discover their own potentials, develop social skills while at the same time giving reality to our public benefits objectives.
## **Organisation**
The Trustees meet as scheduled and deal with the administration of the charity encompassing the strategic vision, financial accountability and risk management.
The pastoral, ecclesiastical and operational management of the organisation are undertaken by the paid staff team.
## **Risk management**
The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.
## **7. Financial Review**
The Trustees are passionate about sustainability. We continue to monitor all sources of income, invest in identifying and developing new sources of income as well as monitoring
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**Maximum Impact Christian Centre aka MICC Chapel of Light TRUSTEES ANNUAL REPORT For year ended 31 March 2024**
costs, to ensure we continue to be financially sustainable for the foreseeable future
Through the generosity of our congregation and supporters, we raised £129,125 this year.
## **Key income sources included:**
- Tithes and offerings: £129,125
- Fundraising events: £1,765
- Grants and donations: £31,157
Our expenditure focused on worship, outreach, and maintaining our facilities:
- Ministry and outreach: £21,837
- Building and maintenance: £33,337
- Administration: £1,252
We ended the year with reserves of £96,009, ensuring financial stability for the future.
## **Reserves policy**
It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at an appropriate level to ensure that management and administrative expenditure can be met. From time to time the trustees may decide to designate reserves to building renovation. The trustees review both its policies and its reserves position on a regular basis.
## **Salaries:**
We believe in rewarding staff fairly for the jobs that they do and fostering a positive working environment, although our present salaries and terms and conditions do not yet reflect this due to limited cashflow and on- going development of our Heritage building.
## **8. Public Benefit Statement**
The trustees have also reviewed the charitable purposes of MICC, and the external environment, to make sure the Charity is still relevant and needed. This annual report will aim to demonstrate the link between our charitable activity and how this benefits our service users and the community at large.
- **How our activities deliver public benefit**
The Trustees confirm they have referred to the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and when planning future activities. We believe the Christian faith we profess – and which underpins everything we do –
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**Maximum Impact Christian Centre aka MICC Chapel of Light**
## **TRUSTEES ANNUAL REPORT For year ended 31 March 2024**
is for the common good of every member of society. We therefore believe that MICC fulfils the public benefit test required of charities. We are an outward looking organisation: we are committed to the positive and joyful transformation of all people in society. We therefore strive to make sure the benefits we work for are not exclusive to our members but holistic and all embracing.
## **9. Statement of Trustee Responsibilities**
The charity trustees are responsible for preparing a trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The board of trustees would like to place on record its thanks to, and appreciation of, the chief executive/ Founding Pastor, his Executive Pastor/ General Counsel doing the job of several people and the whole of MICC Volunteers for the skill and energy with which they have managed and contributed to the organisation.
The charity trustees are required to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and of incoming resources and application of resources. In preparing financial statements, the trustees are required to:
- Select suitable accounting policies and apply them consistently.
- Observe the methods and principles in the Charities SORP.
- Make judgements and estimates that are reasonable and prudent.
- State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity. 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.
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**Maximum Impact Christian Centre aka MICC Chapel of Light**
## **TRUSTEES ANNUAL REPORT For year ended 31 March 2024**
## **Looking Ahead**
As we commence the year 2024-2025, we are prayerfully planning to:
- Expand our community outreach by launching a food programme called the King’s Pantry, Employability training and other skills training initiative.
- Enhance our worship experience by upgrading the heating systems of the church
- Invest in youth and family ministries to disciple the next generation.
- We are looking forward to the renovation and further enhancement of our Heritage worship centre to become a green space with zero carbon footprint.
- We are also working on further improving our online presence and impact.
Approved by the Trustees on 15 January 2025 and signed on their behalf by:
Revd Dr Peter Adegbie
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## **MAXIMUM IMPACT CHRISTIAN CENTRE**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES**
For the year ended 31 March 2024
I report on the financial statements of Maximum Impact Christian Centre for the year ended 31 March 2024, which are set out on pages 11 to 21.
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 ("the Charities Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
- examine the accounts under section 145 of the Charities Act,
- to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act), and
- to state whether particular matters have come to my attention.
## **Basis of independent examiner's statement**
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:
- the accounting records were not kept in accordance with section 130 of the Charities Act; or
- the accounts did not accord with the accounting records; or
- the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than if the requirements that the accounts give a "true and fair" view which is not a matter considered as part of an independent examination.
I 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.
Michelle Wright MW Accounting, Bookkeeping & Training Woodgate House Wood Street Gateshead NE11 9NP Date: 31/01/25
10
## **MAXIMUM IMPACT CHRISTIAN CENTRE**
## **STATEMENT OF FINANCIAL ACTIVITIES**
For the year ended 31 March 2024
|6
7
8
**Expenditure on:**
8
Operation of the charity
**_Total expenditure_**
**_Net income/(expenditure) and net_**
**_movement of funds_**
Charitable activities
**_Total funds carried forward_**
**Reconciliation of funds**
Total funds brought forward
**_Total income_**
Donations and legacies
**Income from:**
Investments
Charitable activities
Grants and contracts
Notes|Unrestricted
Funds
£
165,261
7,352
-
172,613
166,766
166,766
5,848
86,080
91,928|Restricted
Funds
£
-
10,000
-
10,000
10,000
10,000
-
4,081
4,081|**Total**
**2024**
**£**
**165,261**
**17,352**
**-**
**182,613**
**176,766**
**176,766**
**5,848**
**90,161**
**96,009**|Total
2023
£|
|---|---|---|---|---|
|||||117,553
58,493
-|
|||||176,045|
|||||195,381|
|||||195,381|
|||||( 19,336 )
109,497|
|||||90,161|
The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities
The notes on pages 13 to 21 form an integral part of these accounts.
11
Charity Number 1134921
## **MAXIMUM IMPACT CHRISTIAN CENTRE**
## **BALANCE SHEET**
As at 31 March 2024
|**Total**
**2024**
**£**
**£**
**Fixed assets**
Tangible assets
15
94,236
**_Total fixed assets_**
**94,236**
**Current assets**
Debtors
16
10,646
Cash at bank and in hand
17
18,192
**_Total current assets_**
**28,838**
**Creditors:**amounts falling due within
one year
18
**( 3,280 )**
**_Net current assets_**
**25,558**
**_Total assets less current liabilities_**
**119,794**
**Creditors:**amounts falling due after
more than one year
19
**( 23,785 )**
**_Total net assets or liabilities_**
**96,009**
**Funds of the charity**
Unrestricted income funds
55,181
Restricted income funds
4,081
Revaluation reserve funds
36,747
**_Total funds_**
**96,009**
and are signed on its behalf by:
These financial statements were approved by the Board on:
Trustee
Notes
The notes on pages 13 to 21 form an integral part of these accounts.
Reverend Dr Peter Adegbie|**Total**
**2024**
**£**|**£**
10,646
17,916
**28,562**
**( 11,274 )**
**( 23,785 )**
31/01/25|**Total**
**2023**
**£**|
|---|---|---|---|
||94,236||96,658|
||**94,236**
**25,558**||**96,658**
**17,288**|
||**119,794**||**113,946**|
||**96,009**||**90,161**|
||55,181
4,081
36,747||44,423
4,081
41,657|
||**96,009**||**90,161**|
|||||
|||Peter Adegbie(Jan 31,2025 18:35 GMT)
Peter Adegbie||
|||||
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## **MAXIMUM IMPACT CHRISTIAN CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 March 2024
## 1 **Accounting Policies**
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## 2 **Basis of accounting**
## 2.1 **Basis of preparation**
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The accounts 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) (effective 1 January 2019) – Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Maximum Impact Christian Centre meets the definition of a public benefit entity under FRS 102.
## 2.2 **Preparation of the accounts on a going concern basis**
The charity reported total unrestricted funds at the year-end of £64,757 and has already secured a significant amount of funding for the current year. The financial statements have been prepared on a going concern basis. In making their assessment the trustees have reviewed and considered relevant information, including their annual budget and future cash flows. In response to the COVID-19 pandemic, the trustees have revised their forecasts to take into account measures that they can take with the current resources available to mitigate the impact of the current adverse conditions. The trustees are of the view that the immediate future of the charity for the next 12 months is secure and that on this basis the charity is a going concern.
## 3 **Income**
## 3.1 **Recognition of income**
Income is recognised when the charity has entitlement to the resources, any performance conditions attached to the item(s) of income have been met, it is more likely than not that the resources will be received and the monetary value can be measured with sufficient reliability
## 3.2 **Offsetting**
There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by FRS102 SORP or FRS102.
## 3.3 **Grants and donations**
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Income received in advance of the provision of a specified service is deferred until the criteria of income recognition are met.
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## **MAXIMUM IMPACT CHRISTIAN CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 March 2024
## 3.4 **Donated goods and services**
Donated goods are measured at fair value (the amount for which the asset could be exchanged) unless impractical to do so.
Donated services and facilities are included in the SoFA when received at the value of the gift to the charity provided that the value of the gift can be measured reliably. Donated services and facilities that are consumed immediately are recognised as income with the equivalent amount recognised as an expense under the appropriate heading in the SoFA.
## 3.5 **Volunteer help**
The value of volunteer help received is not included in the accounts but is described in the trustees' annual report.
## 3.6 **Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
## 3.7 **Income from membership subscriptions**
Membership subscriptions received in the nature of a gift are recognised in donations and legacies.
Membership subscriptions which gives a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities.
## 3.8 **Investment gains and losses**
This includes any realised or unrealised gains or losses on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
## 3.9 **Fund accounting**
Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.
## 4 **Expenditure and liabilities**
## 4.1 **Liability recognition**
Liabilities are recognised when it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
14
## **MAXIMUM IMPACT CHRISTIAN CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 March 2024
## 4.2 **Charitable activities**
Expenditure on charitable activities includes the costs of outreach work and other activities undertaken to further the purposes of the charity and their associated support costs.
## 4.3 **Governance and support costs**
Support costs have been allocated between governance cost and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources.
## 4.4 **Irrecoverable VAT**
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## 4.5 **Creditors**
The charity has creditors which are measured at settlement amounts less any trade discounts.
## 4.6 **Provisions for liabilities**
A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date.
## 5 **Assets**
## 5.1 **Tangible fixed assets for use by the charity**
Depreciation is calculated so as to write off the cost of a fixed asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildings Property is maintained to such a standard that, in the opinion of the trustees, its estimated value is not less than its cost. No depreciation is charged as it is not material. Fixtures, fittings and equipment 18% per annum on a reducing balance basis Motor vehicles 18% per annum on a reducing balance basis
15
## **MAXIMUM IMPACT CHRISTIAN CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 March 2024
|**Analysis of income**
6
**Donations and legacies**
7
**Charitable activities**
Income from grants
Grants
Other income
Church offerings and tithes
Gift aid
Donations|Unrestricted
Funds
£
129,125
17,331
18,806
165,261
2,352
5,000
7,352|Restricted
Funds
£
-
-
-
-
10,000
-
10,000|**Total**
**2024**
**£**
**129,125**
**17,331**
**18,806**
**165,261**
**12,352**
**5,000**
**17,352**|Total
2023
£|
|---|---|---|---|---|
|||||94,421
11,824
11,308|
|||||117,553|
|||||44,866
13,626|
|||||58,493|
Income was £182,613 (2023: £176,045) of which £172,613 was unrestricted or designated (2023: £176,045) and £10,000 was restricted (2023: £0)
16
## **MAXIMUM IMPACT CHRISTIAN CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 March 2024
## **Analysis of expenditure on charitable activities**
|8|**_Charitable activities_**
Direct costs
Support costs
Governance costs
Office costs
Support staff other costs
Outreach work and local projects
Bank charges
Independent examiner's fees for reporting on
the accounts
Project costs
Repairs and renewals
Professional fees
Staff costs
Church running and establishment expenses
Depreciation|Unrestricted
Funds
£
81,749
33,198
2,423
20,230
1,607
1,252
-
86
25,777
145
300
166,766|Restricted
Funds
£
-
-
-
-
-
-
-
-
7,560
2,440
-
10,000|**Total**
**2024**
**£**
**81,749**
**33,198**
**2,423**
**20,230**
**1,607**
**1,252**
**-**
**86**
**33,337**
**2,585**
**300**
**176,766**|Total
2023
£|
|---|---|---|---|---|---|
||||||78,455
38,371
1,650
14,386
1,533
1,255
3,421
52
52,034
3,926
300|
||||||195,381|
Expenditure on charitable activities was £176,766 (2023: £195,381) of which £166,766 was unrestricted or designated (2023: £157,578) and £10,000 was restricted (2023: £37,803)
## 9 **Fees for examination of the accounts**
Independent examiner's fees for reporting on the accounts
|**2024**
**£**
**300**
**300**|2023
£|
|---|---|
||300|
||300|
## 10 **Analysis of staff costs and the cost of key management personnel**
|Salaries and wages
Social security costs
Pension costs|**2024**
**£**
**68,349**
**7,438**
**5,961**
**81,749**|2023
£|
|---|---|---|
|||65,492
7,880
5,082|
|||78,455|
No employee received remuneration above £60,000
The key management personnel of the charity, comprise the trustees and the Senior Pastor. The total employee benefits of the key management personnel of the charity were £42,069.
17
## **MAXIMUM IMPACT CHRISTIAN CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 March 2024
## 11 **Staff numbers**
The average monthly head count was 2 staff (2023: 2 staff) and the average monthly number of full-time equivalent employees during the year were as follows:
|The parts of the charity in which the employee's work
Pastors and ministers|**2024**
**Number**
**2.0**
**2.0**|2023
Number|
|---|---|---|
|||2.0|
|||2.0|
## 12 **Transactions with trustees**
None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity.
## **Trustees' expenses**
No trustee expenses have been incurred in the year.
## **Transaction(s) with related parties**
There have been no related party transactions in the reporting period.
## 13 **Defined contribution pension scheme**
The charity operates a defined contribution pension scheme.The assets of the scheme are held separately from those of the charity in an independently administered fund.
The employer's pension costs represent contributions payable by the charity to the fund and amount to £5,961 (2023: £5,082). There was £1,245 outstanding as at 31 March 2024 (2023: £1,245)
## 14 **Corporation Taxation**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives.
18
## **MAXIMUM IMPACT CHRISTIAN CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 March 2024
|**Freehold**
**Property**
15 **Tangible fixed assets**
**Improvements**
**£**
**Cost**
Balance brought forward
14,143
Additions
-
Disposals
-
Revaluations
-
**Balance carried forward**
14,143
**Depreciation**
Basis
SL
Rate
5%
Balance brought forward
-
Depreciation charge for year
-
Disposals
-
**Balance carried forward**
-
**Net book value**
**Brought forward**
14,143
**Carried forward**
14,143|**Freehold**
**land and**
**building**
**£**
75,000
-
-
-
75,000
-
-
-
-
75,000
75,000|**Motor**
**vehicles**
**£**
12,763
-
-
-
12,763
RB
18%
9,590
1,036
-
10,626
3,172
2,137|**Furniture,**
**fittings and**
**equipment**
**£**
42,068
-
-
-
42,068
RB
18%
37,725
1,387
-
39,112
4,343
2,956|**Total**
**£**|
|---|---|---|---|---|
|||||**143,973**
**-**
**-**
**-**|
|||||**143,973**|
|||||**47,315**
**2,423**
**-**|
|||||**49,738**|
||||||
|||||**96,658**|
||||||
|||||**94,236**|
The effective date of the revaluation was the 17th December 2018. An independent valuer was involved; sales of church buildings in other areas was taken into consideration when the valuation was carried out. The carry amount that would have been recognised had the assets been carried under the historical costs model is £33,343.
16 **Debtors and prepayments (receivable within 1 year)**
|17
Cash at bank and in hand
**Cash at bank and in hand**
Accrued income|**2024**
**£**
**10,646**
**10,646**
**2024**
**£**
**18,192**
**18,192**|2023
£|
|---|---|---|
|||10,646|
|||10,646|
|||2023
£|
|||17,916|
|||17,916|
19
## **MAXIMUM IMPACT CHRISTIAN CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 March 2024
## 18 **Creditors and accruals (payable within 1 year)**
|**reditors and accruals (payable within 1 year)**|||
|---|---|---|
|Hire purchase creditors
Independent examination of accounts
Other creditors
Accruals
Other accruals
Other taxation, social security and pension|**2024**
**£**
**437**
**891**
**1,652**
**300**
**-**
**3,280**|2023
£|
|||5,165
1,845
1,842
300
2,122|
|||11,274|
- 19 **Creditors and accruals (payable after more than 1 year)**
|Long Term Loan|**2024**
**£**
**23,785**
**23,785**|2023
£|
|---|---|---|
|||23,785|
|||23,785|
This is a government backed Bounce-Bank loan and the repayment is over 10 - 15 years
## 20 **Events after the end of the reporting period**
No events (not requiring adjustment to the accounts) have occurred after the end of the reporting period but before the accounts are authorised which relate to conditions that arose after the end of the reporting period.
## 21 **Analysis of charitable funds**
## **Analysis of movements in unrestricted funds**
|**Unrestricted funds**
General unrestricted fund
Revaluation reserve
**_Totals_**|**Fund**
**balances**
**brought**
**forward**
£
49,333
36,747
86,080|**Incoming**
**resources**
£
172,613
-
172,613|**Resources**
**expended**
£
( 166,766 )
-
(166,766 )|**Transfers**
£
-
-
-|**Fund**
**balances**
**carried**
**forward**
**£**|
|---|---|---|---|---|---|
||||||**55,181**
**36,747**|
||||||**91,928**|
## **Purpose of unrestricted funds**
General unrestricted fund The 'reserves' of the charity
20
## **MAXIMUM IMPACT CHRISTIAN CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 March 2024
## 21 **Analysis of charitable funds continued**
## **Analysis of movement in restricted funds**
|**Restricted funds**
Big Lottery Fund - Awards for All
Big Lottery Fund - Heritage
Lottery Resilience Fund
**_Totals_**|**Fund**
**balances**
**brought**
**forward**
£
4,081
-
4,081|**Incoming**
**resources**
£
-
10,000
10,000|**Resources**
**expended**
£
-
( 10,000 )
(10,000 )|**Transfers**
£
-
-
-|**Fund**
**balances**
**carried**
**forward**
**£**|
|---|---|---|---|---|---|
||||||**4,081**
**-**|
||||||**4,081**|
## **Purpose of restricted funds**
Restricted funds represent income resources used for a specific purpose within the charity as identified by the donor.
Big Lottery Fund - Awards for All Employability funding Big Lottery Fund - Heritage To fund a community celebration Lottery Big Lottery Fund - Heritage To develop areas of the church in urgent need of repair Lottery Reilience Fund
## 22 **Capital commitments**
As at 31 March 2024, the charity had no capital commitments (2023 -£nil)
## 23 **Analysis of net assets between funds**
|Cash at bank and in hand
Other net current assets/(liabilities)
Tangible fixed assets
Cash at bank and in hand
Other net current assets/(liabilities)
Tangible fixed assets
Long term assets/(liabilities)
Long term assets/(liabilities)|Unrestricted
Funds
£
94,236
14,111
7,366
( 23,785 )
91,928
Unrestricted
Funds
£
96,658
13,835
( 628 )
( 23,785 )
86,080|Restricted
Funds
£
-
4,081
-
-
4,081
Restricted
Funds
£
-
4,081
-
-
4,081|**Total**
**2024**
**£**|
|---|---|---|---|
||||**94,236**
**18,192**
**7,366**
**( 23,785 )**|
||||**96,009**|
||||**Total**
**2023**
**£**|
||||**96,658**
**17,916**
**( 628 )**
**( 23,785 )**|
||||**90,161**|
21