DocuSign Envelope ID: ECA616E0-CC13-468F-BFDC-3046588C4BE5 ## **BETHEL EVANGELICAL FREE CHURCH** ## **FINANCIAL STATEMENTS** **FOR THE YEAR ENDED** **31 DECEMBER 2023** ## **REGISTERED CHARITY NUMBER: 1135831** **Cound & Co LLP Chartered Accountants 1 Princes Court Royal Way Loughborough Leics LE11 5XR** **Tel: 01509 214163** DocuSign Envelope ID: ECA616E0-CC13-468F-BFDC-3046588C4BE5 ## **BETHEL EVANGELICAL FREE CHURCH** **REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** ## **CONTENTS** |1|-|4|Report of the Church officers| |---|---|---|---| |5|||Independent Examiners’ Report| |6|||Statement of Receipts and Payments| |7|||Statement of Assets and Liabilities| |8|-|10|Notes forming part of the financial statements.| DocuSign Envelope ID: ECA616E0-CC13-468F-BFDC-3046588C4BE5 **- 1 -** ## **BETHEL EVANGELICAL FREE CHURCH** ## **REPORT OF THE OFFICERS FOR THE YEAR ENDED 31 DECEMBER 2023** The officers present their report along with the financial statements of the charity for the year ended 31 December 2023. The financial statements have been prepared in accordance with the accounting policies set out on page 8 and comply with the Church’s trust deed and applicable law. ## **REFERENCE AND ADMINISTRATIVE DETAILS:** ## **Inland Revenue Charity Ref: XN 26557** ## **Charity Number: 1135831** ## **Holding Trustees:** A Davis D Eagles W Easton P Harrison ## **Church Elders:** Rev D Eagles (Pastor) A Davis W Easton P Harrison ## **Church Deacons:** Ivan Timson ## **Church Premises:** Burleigh Avenue, Wigston, Leicester, LE18 1FH ## **Independent Examiners:** Cound & Co LLP Chartered Accountants 1 Princes Court Royal Way Loughborough Leics, LE11 5XR ## **Bankers:** NatWest plc DocuSign Envelope ID: ECA616E0-CC13-468F-BFDC-3046588C4BE5 **- 2 -** ## **BETHEL EVANGELICAL FREE CHURCH** ## **REPORT OF THE OFFICERS FOR THE YEAR ENDED 31 DECEMBER 2023** ## **STRUCTURE GOVERNANCE AND MANAGEMENT** Until 2010, the Church was constituted under a trust deed dated 9 December 1981, and was an “excepted" charity by virtue of its affiliation to the Fellowship of Independent Evangelical Churches. However, in order to comply with the Charities Act 2006, a new Constitution dated 9 March 2011 using an approved governing document issued by the Fellowship of Independent Evangelical Churches has been adopted and the Church has become a “Registered Charity”. ## **Appointment of Trustees** In accordance with the constitution, the Managing Trustees comprise those persons appointed as Pastors, Elders and Deacons. There is provision for a minimum of three trustees at any one time. A number of Holding Trustees are appointed from amongst the Managing Trustees to take responsibility for the Church buildings and property. ## **Trustee Induction and Training** As trustees are drawn solely from the ranks of Church Elders and Deacons, they are already very familiar with the workings of the Church. As such, no specific formal training is given to new trustees, although they are briefed to ensure that they are aware of their responsibilities and duties as trustees. ## **Organisation** The Holding Trustees and officers who have served during the year and since the year-end are set out on page l. Pastors, Elders and Deacons are Managing Trustees and must all be in full agreement with the Church's doctrinal basis and “Church Matters” policy document: Pastor: The appointment of a Pastor shall be by the unanimous recommendation of the Elders and Deacons and by the wholehearted spiritual witness of the Church Members’ Meeting, evidenced by the wholehearted approval of at least three quarters of those present at the Church Members’ Meeting. Elders: Recognising the biblical pattern, the existing Elders are to be the ones who normally identify new Elders, with the membership being invited to give their wholehearted agreement (Titus 1:5) at the Church Members’ Meeting, evidenced by the approval of at least three quarters of those present at the Church Members’ Meeting. Deacons: Following the biblical pattern, Deacons shall be adult members who conform to the scriptural qualifications (1Tim 3:8-10, 12 and 13 Acts 6:3). Church members will give recommendations to the Elders and Deacons for their consideration. The Elders and Deacons will bring persons with their consent to the membership for their wholehearted agreement at a Church Members’ Meeting, evidenced by the approval of at least three quarters of those present at the Church Members’ Meeting. The Pastors, Elders and Deacons shall normally serve without time limit up to the age of seventy, unless removed from office. However, Church Officers may be requested to continue in their office past this age, by the agreement of the other Church Officers and with an annual review. The following considerations should be taken into account when agreeing to continuation in office: health, gifts, mental capacity and the individual’s personal circumstances. A Pastor, Elder or Deacon may voluntarily resign by submitting in writing a letter to that effect to the remaining Church Officers. The Pastor will normally retire from office at the statutory retirement age. ## **Missionary Support Policy** The Church has continued to support several missionaries, both in the UK and Overseas, through discretionary support and designated gifts. In addition, the Church is currently supporting two other missionary couples serving with missionary organisations on a monthly basis. Often, those supported have been sent out from Bethel to their new work and/or previously worked or served at Bethel Church. DocuSign Envelope ID: ECA616E0-CC13-468F-BFDC-3046588C4BE5 **- 3 -** ## **BETHEL EVANGELICAL FREE CHURCH** ## **REPORT OF THE OFFICERS FOR THE YEAR ENDED 31 DECEMBER 2023** ## **OBJECTIVES AND ACTIVITIES** The purposes of the Church shall be: - The advancement of the Christian faith in accordance with the Basis of Faith primarily but not exclusively within Wigston and the surrounding neighbourhood; - And such other charitable purposes as shall, in the opinion of the members of the Church in general meeting and the Managing Trustees, further the work of the Church. The trustees confirm that they have referred to the Charity Commissions guidance on public benefit when reviewing the Charity’s aims and objectives in planning future activities and policies. ## **ACHIEVEMENTS AND PERFORMANCE** All of the Church Sunday and midweek meetings are held in person, although the service is also available online or via DVD, for those who cannot attend in person.. The Church generally holds one service on a Sunday, as well as mid-week and ad-hoc meetings to teach the Christian faith and to provide opportunities for worship. Bethel Connect groups are part of the mid-week meetings and are house-group based to allow those attending to get to know each other better. In addition, the Church hosts activities for all ages, from tots and parents, through children, teenagers, young adults, ladies, men and 55+, which combine social activities with opportunities for teaching. The Church also arranges outreach events to raise awareness of the local Church in particular and the Christian faith in general. All the above activities and meetings are open to society in general and are not restricted to members of the Church. Specific activities for children and young people include weekly Kids at the Corner and Youth Meetings, as well as special opportunities such as an Easter Children’s Holiday Club, and the Bible Exhibition for local schools. The Church also holds regular meals, at least quarterly, to allow those attending to get to know each other better. For the wider community there is also a Summer BBQ and the Christmas Carols by Candlelight service, as well as special events – for example in 2023 we organised cream teas for the local community to mark the King’s Coronation. “The Corner” coffee area and refurbished church hall are used widely by the Church, and also to provide an open door to the local community. This now hosts four regular sessions, Community Night (held on Monday evening) “Coffee and Company” (held on Wednesday Morning), Friendship Café (held on Thursday morning) and “Craft and Chat” (held on Friday evening), which are very well attended. ## **FINANCIAL REVIEW** Income received during the year totalled £55,571, principally from donations to the Church, and was lower than the corresponding amount received in 2022 (£66,773). The reduction from 2022 to 2023 was mainly due to an expected reduction in giving for the Building Fund (£1,475) and lower insurance claim receipts (£5,556). Total payments during the year were £78,252, which was lower than the expenditure in 2022 (£78,602). Overall, this meant that the Church reported a deficit for the year of £22,681 (2022: deficit of £11,829). DocuSign Envelope ID: ECA616E0-CC13-468F-BFDC-3046588C4BE5 **- 4 -** ## **BETHEL EVANGELICAL FREE CHURCH** ## **REPORT OF THE OFFICERS FOR THE YEAR ENDED 31 DECEMBER 2023** ## **RESERVES POLICY** Reserves are set aside to respond to any unforeseen funding difficulties. The Church officers produce a budget each year to forecast the amount of income that the Church expects to receive. Based on this, the Church will plan its expenditure for the future year, so that it keeps normal expenditure pegged to slightly below the level of income. The overall budget is reviewed during the year at Church officer meetings to ensure that the Church can achieve its targets regarding planned expenditure and make any adjustments as necessary to keep within it. ## **RISK MANAGEMENT** The officers 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. ## **Trustees’ responsibilities in relation to the financial statements** The laws applicable to charities in England and Wales require the officers to prepare financial statements for each financial year which give a true and fair view of the Church’s financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the officers are required to: - select suitable accounting policies and then apply them consistently; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards and statements of recommended practice have been followed - subject to any departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Church will continue to function. The officers are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the Church and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the Church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the trustees and church officers on 20 June 2023 and signed on their behalf by: ………………………………………. A Davis Treasurer 4 June 2024 DocuSign Envelope ID: ECA616E0-CC13-468F-BFDC-3046588C4BE5 **- 5 -** ## **INDEPENDENT EXAMINERS’ REPORT TO THE OFFICERS OF** ## **BETHEL EVANGELICAL FREE CHURCH** I report on the accounts of the Church for the year ended 31 December 2023, which are set out on pages 6 to 10 ## **Respective responsibilities of the Church officers and examiners** The Church officers are responsible for the preparation of the accounts. The Church officers consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. 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 Commissioners under section 145(5)(b) of the Charities Act; and - to state whether particular matters have come to our attention. ## **Basis of independent examiners’ report** My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Church 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 you as officers 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 examiners’ statement** In connection with my examination, no matter has come to my attention: - 1) which gives me reasonable cause to believe that, in any material respect the requirements: - - to keep accounting records in accordance with section 130 of the Charities Act; and - to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or - 2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. D R Gradon Cound & Co LLP Chartered Accountants 1 Princes Court Royal Way Loughborough Leics, LE11 5XR 4 June 2024 DocuSign Envelope ID: ECA616E0-CC13-468F-BFDC-3046588C4BE5 **- 6 -** ## **BETHEL EVANGELICAL FREE CHURCH** ## **STATEMENT OF RECEIPTS AND PAYMENTS** ## **FOR THE YEAR ENDED 31 DECEMBER 2023** |Receipts:
Donations and legacies
Charitable activities:
Use of Church facilities
Other income
Investment income
Insurance claim
Payments:
Charitable activities:
Pastoral ministry
Evangelism and outreach
Establishment costs
Gifts
Total Payments
Net receipts/(payments)
Transfers
Surplus/(deficit) for the year
Bank balances at 1 January 2023
Surplus/(deficit) for the year
Bank balances at 31 December 2023|2023
2023
Other
2023
Designated
Designated
General
Building
2023
2022
Notes
Funds
Funds
Funds
Total
Total
450
51748
-
52198
58510
-
50
-
50
-
-
125
-
125
-
-
544
-
544
53
-
2654
-
2654
8210
_____
_____
_____
_____
_____
450
55121
-
55571
66773
_____
_____
_____
_____
_____
2
-
40355
-
40355
38463
3
-
3079
-
3079
2439
4
-
34368
-
34368
33970
450
-
-
450
3730
_____
_____
_____
_____
_____
450
77802
-
78252
78602
_____
_____
_____
_____
_____
-
(22681)
-
(22681)
(11829)
-
-
-
-
-
_____
_____
_____
_____
_____
-
(22681)
-
(22681)
(11829)
_____
_____
_____
_____
_____
-
68510
-
68510
80339
-
(22681)
-
(22681)
(11829)
_____
_____
_____
_____
_____
£-
£45829
-
£45829
£68510
_____
_____
_____
_____
_____| |---|---| DocuSign Envelope ID: ECA616E0-CC13-468F-BFDC-3046588C4BE5 **- 7 -** ## **BETHEL EVANGELICAL FREE CHURCH** ## **STATEMENT OF ASSETS AND LIABILITIES AS AT 31 DECEMBER 2023** |2023
Other
Designated
Note
Funds
FIXED ASSETS
Freehold land and buildings
5
-
Fixtures and fittings
5
-
____
-
____
CURRENT ASSETS
Prepayments
-
Bank balances
-
____
-
____
CURRENT LIABILITIES
Creditors and Accruals
-
____
NET CURRENT ASSETS
-
____
TOTAL NET ASSETS
-
____
FUND BALANCES
General Fund
6
-
Restricted Fund
6
-
Designated Funds:
Building Fund
6
-
Other Funds
-
____
-
____|2023
2023
Designated
General
Building
Funds
Funds
292314
-
3342
-
______
____
295656
-
______
____
-
-
45829
-
_____
____
45829
-
_____
____
1080
-
_____
____
44749
-
_____
____
340405
-
______
____
340405
-
-
-
-
-
-
-
______
____
340405
-
______
____|2023
Total
Funds
292314
3342
______
295656
______
-
45829
_____
45829
_____
1080
_____
44749
_____
340405
______
340405
-
-
-
______
340405
______|2022
Total
Funds
292314
3819
______
296133
______|2022
Total
Funds| |---|---|---|---|---| ||||-
68510
_____
68510
_____
1080
_____
67430
_____
363563
______|-
68510
_____
68510
_____| |||||1080
_____| |||||67430
_____| ||||363563
-
-
-
______
363563
______|| The Financial Statements on pages 6 to 10 were approved by the trustees on 4 June 2024 and signed on their behalf by: ……………………………….. A Davis DocuSign Envelope ID: ECA616E0-CC13-468F-BFDC-3046588C4BE5 **- 8 -** ## **BETHEL EVANGELICAL FREE CHURCH** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** ## 1 ACCOUNTING POLICIES ## a) Funds General funds represent the funds of the Church that are not subject to any restrictions regarding their use and are available for application on the general purposes of the Church. Designated funds are unrestricted funds that have been designated for a particular use, in this case representing the Church’s Buildings fund. Restricted funds are those funds that must be spent on the restricted purposes as specified by the donor. ## 2 PASTORAL MINISTRY AND MISSIONARY SUPPORT |2023
2023
Other
2023
Designated
Designated
General
Building
Funds
Funds
Funds
Pastoral remuneration and expenses
-
37652
-
Employer’s Pension Contributions
-
923
-
Employer’s NIC
-
-
-
Visiting preachers
-
580
-
Missionary support
-
1200
-
Training Costs
-
-
-
_____
_____
_____
-
40355
-
_____
_____
_____|2023
Total
Funds
37652
923
-
580
1200
-
_____
40355
_____|2022
Total
Funds| |---|---|---| |||37305
915
-
-
-
243
_____
38463
_____| The Church employs a Pastor. All of the Elders (including the Pastor) and Deacons are Managing Trustees, as they are all included in making decisions on how the charity’s funds are expended. To avoid a conflict of interest, the Pastor continues to be excluded from all discussions relating to him and his remuneration. The Pastor is the only trustee to receive any remuneration or expenses; however other trustees have been reimbursed during the year for expenditure they have incurred on behalf of the Church. ## 3 EVANGELISM AND OUTREACH |2023
2023
Other
2023
Designated
Designated
General
Building
Funds
Funds
Funds
Bible exhibitions
-
2044
-
Outreach expenses
-
1035
-
____
____
____
-
3079
-
____
____
____|2023
Total
Funds
2044
1035
____
3079
____|2022
Total
Funds| |---|---|---| |||1952
487
____
2439
____| DocuSign Envelope ID: ECA616E0-CC13-468F-BFDC-3046588C4BE5 **- 9 -** ## **BETHEL EVANGELICAL FREE CHURCH** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** ## 4 ESTABLISHMENT COSTS |5|2023
2023
Other
2023
Designated
2023
Designated
General
Building
Total
Funds
Funds
Funds
Funds
Rates and water
-
1335
-
1335
Insurance
-
1416
-
1416
Light and heat
-
12875
-
12875
Repairs and maintenance
-
11960
-
11960
Cleaning
-
388
-
388
Telephone
-
422
-
422
Postage, stationery and photocopying
-
139
-
139
FIEC affiliation fees
-
800
-
800
Catering
-
2004
-
2004
DBS Checks
-
162
-
162
Other miscellaneous costs
-
-
-
-
Independent examination and payroll fee
-
1320
-
1320
Fixed Asset Purchases
-
-
-
-
Equipment Purchased
-
1547
-
1547
____
_____
_____
_____
-
34368
-
34368
____
_____
_____
_____
FIXED ASSETS
Freehold
Fixtures
Land and
and
Cost
Buildings
Fittings
At 1 January 2023
292314
22654
Additions
-
-
______
_____
At 31 December 2023
292314
22654
Depreciation
At 1 January 2023
-
18835
Charge for the year
-
477
______
_____
At 31 December 2023
-
19312
______
_____
Net Book Value at 31 December 2023
292314
3342
______
______
Net Book Value at 31 December 2022
292314
3819
______
_____|2022
Total
Funds
675
1379
2909
17662
1370
531
427
750
264
267
54
1080
6602
-
_____
33970
_____
Total
314968
-
______
314968
18835
477
_____
19312
_____
295656
______
296133
______| |---|---|---| DocuSign Envelope ID: ECA616E0-CC13-468F-BFDC-3046588C4BE5 **- 10 -** ## **BETHEL EVANGELICAL FREE CHURCH** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** The Church’s freehold properties comprise: - a) The Church buildings situated in Burleigh Avenue, Wigston (acquired 14 October 1950). - b) The Church hall, bookshop and flat situated at the corner of Burleigh Avenue and The Crescent, Wigston (acquired 24 November 1955). The Church officers estimate that the market value of the Church’s properties following the refurbishment project is about £750,000. ## 6 ANALYSIS OF NET ASSETS BY FUND |2023
Other
Designated
Funds
Fixed Assets
-
Current Assets
-
Current Liabilities
-
____
-
____|2023
2023
Designated
General
Building
Funds
Funds
295656
-
45829
-
(1080)
-
______
____
340405
-
______
____|2023
Total
Funds
295656
45829
(1080)
______
340405
______|2022
Total
Funds
296133
68510
(1080)
______
363563
______| |---|---|---|---|