Christ Church (URC) Henley-on-Thames Report and Accounts Year ended 31 December 2023
Christ Church (URC) Henley-on-Thames Report and Accounts For the Year Ended 31 December 2023 Index Contents Page Trustees, Annual Report Independent Examine¢s Report Statement of Financial Activities Balance Sheet Notes to the Aceounls 7-13
Christ Church URC Hènlo -on-Thamès Trustees. Annual Re ort For the ear ended 31 DeCemr 2023 The trustees have pleasure in submitting the Report and Accounts for the year for Christ Church Henley-on- Thames United Reformed Church, charity number 1135595, of 48 Reading Road, Henley-on-Thames, RG9 1AG. Oblacts of th• charlty Thè charity is a trust with govèrning documènts being trusts distillèd from thè Unitèd Reformèd Church Acts11972 AND 19811 and Scheme of Union 1197210110111973. In practice it is govemed by The Manual of the Unrted Reformed Church IURCI. The Manual is the handbook of the URC and covers the Basis of Union, the structure of the URC and the rules of procedure for the conduct of the URC and its member churches. The object of the charity is the advancement of the Christian faith for the benefit of the public in accordance wf(h the Scheme of Union of the United Reformed Church. The trustees note that the Church is not a building, but a gathering of ordinary people of different ages and backgrounds, whose lives have been changed by Jesus Christ. the Son of God.The New Testament reveals the Church as 8 communty of people. properly laughl and cared for. who by loving and serving Jesus Christ, were also committed to love and ¢arè for each othèr and to bring a blessing to thè arèa in which thèy livèd. The trustees, elders and members of Christ Church URC Henley are committed to the restoration of those New Testament principles.lt is not alone in this, it is one of many Churches in the area, country and all over the world that is re-discovering the excitement of knowing Jesus Christ.The vision is to see the people of Henley come into this experience of knowing Jesus as their Lord. Saviour and friend. Summary of the charity's main activities and achievements To further the above objects and vision, the charity's main activities and achievements were as follows.. Sunday morning services of worship, prayer and teaching, incorpcirating age-appropriate activities for children Refreshments after Sunday morning services for fellowship and enabling members and newcomers to gel to know each other better Sunday evening Bible Studies to delve deeper intr) God's Word and its relevance for our lives today, with several attendees from other churches in Henley and the surrounding area Mid-week homegroups for fellowship, prayer and Bible sludy Monthly prayer meetings lo pray for our world, our country, our community, our church and ourselves a new Teen Bible Study. started in response lo a request from 2 girls who used lo attend Messy Church. and now regulady attended by more than 10 teenagers Indian Summer to support people in the community coping with bereavement Memory cafe to provide stimulating activities for those in the community suffering from loss of memory FROGS- a parent and toddler group for the community, which includes a short Bible 310ry Opén Housé- drop in lunches tspen to the public Cc)ffee moming- open to the public Cake & Co cakes, games and chat especially aimed at those who might be lonely and apprecAative of company, whether currently attending the church or not Family pop-in a new aclivty of games, crafts, Bible sloryl song8 aimed al families with children. whether currèntly attènding thè d)ur¢h or not The church also runs a community centre, managing rooms for hire for community activities induding Ibut not exclusively) a pre-school nursery. Bluebells dementia care, concerts, dance lessons, Alcoholics Anonymous, Tai Chi. and even 85 an election polling stslion. The church premises are also hired out weekly lo a local Church of England for services on Sunday afternoc>ns. Much of the charity management and activities are undertaken by volunteers and the charity could not operate effectively without their efforts. In planning the activities the Trustees have applied the guidance on public benefit issued by the Charity Commi55ion. Page I
Christ Church URC Henle -on-Thames Trustees. Annual Re ort Forthe ear ended 31 December 2023 Stmcture, Governance and Management Responsibility for setting policy and for determining the parameters within which the charity should operate rests with the trustees who meet regularly to monitor the activities of the charity. The Iruslees are elders in Christ Church URC Henley. The Iruslees delegate responsibility for the day to day operation of the church centre to the Centre Management Committee, and for the financial and fabric management of the church and centre to the Finance & Fabri¢ Committee. New trusteeslelders are appointed from members of Christ Church URC Henley by a majority vote at a church members, meeting. The trustees during the year and at the approval dale of the accounts were David Church, Muriel Quinsac, Lynn Sayer, Ann Richards, Joanne Freedman, Maureen Mclaughlin, Sheila Finney and Audrey Richardson. In addition Katrina Judge served as a Iruslee until her resignation on January14, 2024. Financial review During the year income increased by £20k, lo £221 k, and expenditure increased by £4k, to £235k. As a result the deficit for the year decreased by £16k, lo £14k and the charity's nel assets and nel current assets both decreased by the same amount, to £114k. The opening reserves for both the current and prior year have been re-stated lo reffect a prior year adjuslmenl required as the result of a material error of £14k in relation lo the recording of designated donation liabilities and a general bad debt provision since 2019. The comparatives presented In these accounts have been re-stated so that they reflect a correction of the errors and a reconciliation wlh the reserves and results reported previously is detailed in note 15 'Reconcilialion with previously reported funds,. Reserves policy The trustees have determined that the charity should aim to hold unrestricted cash of no less than £30k Iwhieh equates to 2 months of staff wages plus expected building maintenance costs over the next 12 months plus a small contingency) so that the charity could continue to operate should income and l or expenditure vary adversely. At the year end, the charity held unrestricted cash of £126k and the charity is complying with its reserves policy. Key risks and uncertainties The charity is exposed lo various risks - be they operational, financial or reputational. The Iruslees review the charity's activities regularly lo identify significant risks and, where possible, they take appropriate measure5 to mitigate those risks. Page 2
Christ Church URC Henle -on-Thames Trustees. Annual Re ort Forthe ear ended 31 December 2023 Responsibilltles of trustees under charlty law 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 Praclicel. Charity law requires the trustees lo prepare financial slalements for each financial year which give a true and fair view of the stste of the affairs of the charity as at the balance sheet dale and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing these financial slatemenls, the trustees are required to.. 1. 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., 4. state whether the applicable accounting stsndards have been followed, subject lo any material departures disclosed and explained in the financial statements., and 5. prepare the financial statements on a going concern basis unless il is inappropriate to presume that the charity will continue in operation. The Iruslees are responsible for keeping proper accounting records that disclose with reasonable accuracy al any lime the financial position of the charity and enable them lo ensure that the financial statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fud and other irregularities. Approval This report was approved by the Iruslees and signed on their behalf by". David Church Dale.. 11 September 2024 Page 3
Independent Examiner's Report TO THETRUSTEES OF CHRIST CHURCH IURCI, HENLEY-ON-THAMES I'the Charity'l I report to the charity trustees on my examination of the accounts of Christ Church IURCI, Henley-on- Thames for the year ended 31 December 2023 on pages 5 to 13 following, which have been prepared on the basis of the accountin% policies set out on p8Res 7 to 8. Responsibilities and basis of report As the charity's trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'the Act'l. 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 1451511bl of the Act. Independent examiner's statement I have completed my examination. I confirm that no matters have Come to my attention in Connection with the examination giving me cause to believe: accounting records were not kept in accordance with section 130 of the 2011 Act. or the accounts do not accord with those accounting records; or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts 8nd Reports) Regulations 2008 other than any requirement that the accounts give 8 'true and f8ir' view which is not 8 matter considered 8S part of an independent examination. I have no concerns and have come aeross no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be re8ched. Sarah Crispin ACA Stewardship 1 Lamb's Passage London EC1Y8AB Page 4
Christ Church URC Henle -on-Thames Statement of Financial Activities Includin Income and Ex enditure Account for the ear ended 31 December 2023 As re-ststed Total Funds 31.12.22 Unrastrictsd Restricted Funds Funds 31.12.23 31.12.23 Total Funds 31.12.23 Nots In¢omo and endowmgnts from: DonatnS, LegaCS and similarresouKes 74,117 15,000 89,117 86,208 Chantable 8Gtivities Letting and Cafeteria income Gift Day, other elc 105,035 26,398 105,035 26,398 95,632 18,775 Investments 260 260 126 Total 205,810 15,000 220,810 200,741 Expenditure on: Chantabl$ &¢tivitNes Cafeteria running costs Other charitable activities Govemance costs 14,958 202,838 1,800 14,958 217,838 1,800 12,254 214,965 3,150 15,000 Total 219,596 15,000 234,596 230,369 Net incomel Ilossl 113,7861 113,7861 {29,6281 Rg¢on¢lllatlon of Fund$: Total funds brought forward 127,294 127.294 156,922 Total funds carried forward 113,508 113,508 127,294 Page S
Christ Church URC Henle -on-Thames Balance Sheet As at 31 December 2023 As re-stated 31.12.22 Note 31.12.23 Current Assets: Debtors Cash at Bank and in Hand Total current assets 12,642 125,848 25,944 126,726 138,491 152,670 Liabilities.. Creditors.. amounts falling due within one year 124,9831 125,3751 Total net assets 113,508 127,294 The funds of the charlty: Unrestricted Funds Unreslricled bul Designated Funds Restricted funds 13 10 14 93,508 20,000 37,157 90,137 Total charity funds 113,508 127,294 Approved by the Elders on 11 September 2024 and signed on their behalf by= David Church Page 6
Christ Church URC Henle -on-Thames Notes to the Accounts ear ended 31 December 2023 for the 1. Accounting Policies The principal accounting policies adopted, judgements and key sources of eslimalion for uncertainly in the preparation of the financial slalemenls are as follows.. lal Basis of preparation 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 Financi81 Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 Icharilies SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and RepLJblic of Ireland IFRS 1021. The Charities (Accounts and Reports) Regulations 2008 Ilhe '2008 Regulalions'l requires charities lo prepare their accounts in accordance with 'Accounling and Reporting by Charities.. Statement of Recommended Practice effective from 1 April 2005, but this accounting standard has since been wthdrawn and h8s been replaced by the Charities SORP mentioned in the preceding paragraph. The charity has prepared these financial statements in accordan with the new Charities SORP.. this departure from the 2008 Regulations Is believed lo be necessary for these financial statements lo give a 'lrue and fair view,. Christ Church IURCI meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise slated in the relevant accounting policy notelsl. Ibl Going Concern The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubl on the ability of the charty lo continue as a going concern. The Iruslees have made this assessment for a period of al least one year from the dale of approval of the financial statements. In particular the trustees have considered the charity's cash position and expected future incomel expenditure and the possible implications should projected income and l or expenditure vary unexpectedly. The Iruslees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing ils financial slalemenls. Icl Income recognition policies Items of income are recognised and included in the accounts when all of the following criteria are met.. the charity has entillemenl lo the funds., any performance conditions allached lo the ilemlsl of income have been mel or are fully within the control of the charity., there is sufficient certainty that receipt of the income Is considered probable, and the amount can be measured reliably. Idl Taxation The Charity is exempl from tax on ils charitable activities. Page 7
Christ Church URC Henle -on-Thames Notes to the Accounts continued for the ear ended 31 December 2023 1. Accounting Policies (continued) lel Expenditure and Irrecoverable VAT Expenditure is recognised once there is a legal or Constructive obligation to make a payment to a third party, il is probable that selllernenl will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings.. Expenditure on Charitable aclivib.es comprise those costs incurred by the charity in the delivery of its activities and services for ils beneficiaries. 11 includes both costs that can be allocated directly lo such activities and those costs of an indirect nature neSSary lo support them. Governance costs include those costs associated with the constitutional and slatulory requirements of the charity and include the independent auditor's or examiner's fees and costs linked to the strategic management of the charity. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. In Tangiblg Fixgd Assgts il The policy of the Centre is not to capitalise any qualifying expenditure in respect of Fixed Assets for which the Centre is solely and directly responsible. ill The properties comprising the Christ Church Centre are actualty owned by the United Refomed Church Iwessexl Trust Limited. Igl Fund accounting General funds are unreslricled funds which are available for use al the discretion of the Elders in furtheran of the general objectives of the charty. Designated funds comprise unreslricled funds that have been sel aside by the Elders for particular purposes. Reslricled funds are donations which are to be used in accordance with specific restrictions imposed by donors,. they include donations received from appeals for specific activities or projects Ihl Pension costs The charity contributes to the National Employment Savings Trust INESTI which is a defined contribution scheme. Page 8
Christ Church URC Henle -on-Thames Notes to the Accounts continued for the ear ended 31 December 2023 2. Donations, Legacies and similar resources As Te-ststed Total Funds 31.12.22 Total Funds 31.12.23 Offertory Donations and Legacies Tax Recovered on Donations 53,800 20,252 15,064 89,117 51,642 19,924 14,642 86,208 Donations and legacies includes restricted grants of £15,00012022..£8,0001 comprising.. - a grant of £5,00012022. £8,0001 from the Wessex Synod of the URC towards wages of the church community worker, which was fully utilised in each respective year. a CAF donation of £10,000 lo be used to support required refurbishment of the electrical infraslruclure12022.' £nil}, which was fully utilised in the year 3. Income from charitable activities Total Funds 31.12.23 Total Funds 31.12.22 Letting income Cafeteria income 85,345 19,690 105,035 79,405 16,227 95,632 4. Income from charitable activities - Other Total Funds 31.12.23 Total Funds 31.12.22 Gift day Other 15,495 10,903 26,398 9,815 8,960 18,775 5. Expenditure on charitable activities Total Funds 31.12.23 Total Funds 31.12.22 Cafeteria Running Costs (including salaries) 14,958 14,958 12,254 12,254 Page 9
Christ Church URC Henle n-Thames Notes to the Accounts continued for the ear ended 31 December 2023 6. Other charitable activities As rewstated Total Funds 31.12.22 Total Funds 31.12.23 lal Day-to-Day A¢tivitie$ Ministry and Mission Minister's Expenses Visiting Organists Vislting Ministers Community Worker Memory Cafe 46,740 1,366 770 621 595 11,2291 48,862 46,749 1.400 705 311 426 11.9221 47,669 Ibl Other Cg$ts Salaries and Etnploye¢s Nl loft1 staft) Repairs and Renewals Light. Heat and W8ter Caretaking linduding salaries) Estate & Gardening Insurance Postsge and Telephone Sundry Accountancy Manse- Costs Advertising and Promotion Professional Fees Printing, Stationery and Publications 58,684 35,375 27.021 11,092 8,489 7.289 1,112 4,875 4.944 4,999 1,113 811 3,172 168,976 61.662 34.477 24.790 11,795 2.527 6.346 2,256 4.664 8.414 5,4( 1.384 1.724 1.851 167.2 217,838 214.965 Costs of other charitable activities indudes. costs of the church comtnunity worker within Salaries and Employer's Nl loffiTr stsffj which are partially covered by grants from the Wessex Synod of the URC of £5,00012022." £8.0001 disclosed within donations and g£¢leS in Note 2. costs of electrical inspections and remedial work wthin Repairs and Renewals which are partialty covered by a restricted CAF donation of £10,00012022. £nill disclosed within donations and legsues In Note 2. 7. Governance costs Total Funds 31.12.23 Totsl Funds 31.12.22 Independent Auditoffs Remuneration Independent Examine¢s Remuneration 3.150 1.800 1.800 3.150 8. Debtors As re-stated 31.12.23 31.12.22 Tiade debtors Other debtors Prepayments and accrued income Total debtors= falling due within on8 year 6,912 27 5.703 12,642 10,059 15.885 25,944 Page 10
Christ Church URC Henle -on-Thames Notes to the Accounts continued for the ear ended 31 December 2023 9. Creditors As re-stated 31.12.23 31.12.22 Amounts falling due within one year Trade creditors Other creditors Accruals and deferd income 14,649 2,227 8,107 24,983 11,199 2,463 11.713 25.375 10. Unrestricted but designated funds Futurg Maintenance Balance al 1 January 2023 90,137 Transfer froml Itol Unrestricted Funds (70,1371 Balanca at 31 Dècémbèr 2023 20,000 The reserves policy was updated by the Elders during the year so that the fvture maintenance fund refiects 12 months of expected high and medium priority building repairs, with a small contingency for as yet unknown works. The Elders keep under review the adeqLJ3ey and the purpose of this fund. Unrestricted bul designated fund5 of £20,000 for future maintenance are represented by cash. 11. Related Parties The Christ Ghurch Centre is part of Christ Church IURCI.The propertie5 are all actually owned by the United Reformed Chur¢h Iwessexl Tru$l Limited. No remuneration or expenses were paid to the ElderSrUsteeS during the year12022.'£Nill. During the year the charity received donations totalling £19,75312022.' £16,408) from related parties (which includes trustees, any other members of key management and anyone closely connected to them). 12. Staff Costs and Trustee Remuneration The total staff costs in the year were as follows.. As re-stated 31.12.22 31.12.23 Salaries and Employe¢s National Insuran Contributions Employar's Pènsion Contributions 68,907 937 71,606 949 69,844 72,555 The average weekly number of staff employed during the year was as follows.. 31.12.23 31.12.22 Administrative- actual headcount Administrativè- full timè equivalènt No employee reIVed remuneration of more than £60.000 in the current or previous year. No eldersltrustees received employment benefits for performing their duties in either the current or preceding year Page 11
Christ Church Henle -on-Thames Notes to the Accounts continued for the ear ended 31 December 2023 URC 13. Unrestricted general funds As re-stated Unrestricted Funds 31.12.23 Balance al 1 January 2023 Income Expenditure Fund transfer Balance at 31 Dember 2023 37,157 220,810 1234,5961 70,137 93,508 Reprented by= Cash al Bank and in Hand Debtors Creditors 105,848 12,642 124,9821 93,508 14. Restricted funds Community Worker Electrical Works Restricted Funds Balance al 1 January 2023 Income Expenditure alance al 31 December 2023 5,000 15,0001 10,000 110,0001 15,000 115,0001 Represented by: Cash at Bank and in Hand Restrcited fund3 compri5e'. - a grant of £5,00012022.' £8,000) from the Wessex Synod of the URC towards wages of the church community worker, which was fully utilised in the year. a CAF donation of £10.000 to be used to support reqUId refurbi$hmenl of the ele¢tri¢al infraslru¢ture12022." £nill, which was fully ulilised in the year. 15. Reconciliation with previously reported funds During the year the charity identified a material error in the results reported previously. Four'designaled donation creditors, originats'ng from donations received prior to February 2019. and tc)talling £11,104, have no associated liabilib.es and hence should not have been held as creditors in the balance sheet. In addition. these donations received were either not restricted or have been fully utilised in accordance with their original restriction, and hence thé surplus crèditors ean bè released into unrestrietèd funds. In addib"on. a genéral bad dèbt piovision of £3.000 that has been carried since at least January 2019 is not justified as there are no specific bad debts and there is no history ol receivables not being paid even if sometimes they are paid late. These corrections need to be made as a prior year adjuslmenl (prior to the comparative period of 2022 as they originate from 20191 lo avoid the current year results being incorrectly shown as a small profit rather than a loss of £13,786. In addition. the giant received from the Wessex Synod of the URC for church community worker wages was previously incorrectly netted against the wages to which il relates. This has been re-stated in the comparative figures in these accounts so that the grant is shown as income as required under the Charities SORP IFRS 1021 under which these accounts are prepared. This has no impact on previously reported reserves. The comparatives presented in these accounts have been re-stated so that they reflect a correction of the error and a reconciliation with the reserves and results reported previously follows.. Page 12
Christ Church URC Henle on-Thames Notes to the Accounts continued for the ear ended 31 December 2023 15. Reconciliation with previously reported funds (continued) Re¢on¢lllatlon of reserves 2022 2021 Previously reported reserves, at 31 December 113,190 142,818 Adjuslmenls arising from correction of an error in the previous period.. Creditors.. falling due within one year- re release of designated donations Debtors - re general provision for bad debts reversal 11,104 3,000 11,104 3,000 Re-stated reserves, at 31 December 127,294 156,922 Reconciliation of results 2022 Previously reported results 129,6281 Adjustments arising from the correction of an error in the previous period.. Donations, legacies and similar reSoUrs- community worker grant Other charitable activities - re community worker wages 8,000 18,0001 Re-stated results 129,6281 Page 13