Fle9islered Company: 7208973 Fle9islered Charity.. 1136492 LOVING GOD LOVING OTHER5 LOVING LIFE FARNHAM TRUSTEES, REPORT AND FINANCIAL STATEMENTS for the year ended 31 March 2024 JLI)ileè CIMJrth F￿nhaffl ACtynp3ry &"mited by swafartoe in Enoand & WaleB Aai¥&iiaiiLMI No.7200973 A Reglslered Chailiy No.1136492 RegISl￿e￿ Ofilce.. Weythn Chiiiii•n Centi&. lknrW4y, F4rrthwTr. GUg8RL Part ol Newlronliws- a w(thld8 lafflly ol chuwch8S IrxJelh8r a mission, ch￿CheS TO￿[bel in Farnham and a m8mber ol ih8 Evanfval AOianc•. Loving God. Loving Others. Loving Life. JUBILEE CHURCH FARNHAM CONTENTS INDEX Legal and Administrative Inlormalion Report of the Trustees Report ol the Independent Examiner Statement of Flnancial Aclivities incorporating income and expenditure account 10 Balance Sheet Notes 10 the Financial Statemenls 12-20 JUBILEE CHURCH FARNHAM LEGAL AND ADMINISTRATIVE INFORMATION BOARD OF TRUSTEES Mrs EA Foster (Resigned on 16 July 2024) SPGubb D Dowley L Quinlan l Fletcher N Newman COMPANY REGISTERED NUMBER 7208973 CHARITY REGISTERED NUMBER 1136492 (England and Wales) REGISTERED OFFICE Weydon Chrislian Centre Upper Way Farnham Surrey GU9 8RL ELDERS S P Gubb - Minister R L Garvey - Minister N Smlth-Rogers - Elder N Newman - Elder T Oludipe - Elder BANKERS INDEPENDENT EXAMINER Lloyds Bank Shaw Gibbs (Audit) Limited 75 Castle Street Wey Court West Union Fload Farnham Surrey GU9 7LT Farnham. Surrey GU9 7PT JUBILEE CHURCH FARNHAM TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 The trustees (who ara also directors of the charily for the purposes of th8 Companies Acl) present their annual report, which incorporates the directors, report, and the financlal statements of Jubilee Church Farnham (the Charity) for the year ended 31 March 2024, The Trustees confirm that the annual report and financial slatements of the Charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing thelr accounts in accordance with the Financial Reporting Standard applicable In the UK and Republic ol Ireland (FRS 102) (8ffective 1 January 2015) as arnended by Update Bulletinl (effeclive January 2015) Since the charity qualifies as small under section 383. the strategic report required of medium and larg8 companies under Ihe Companies Act 2006 {Straleglc Report and Director's Raport) Regulations 2013 is not required. TRUCTURE GOVERNANCE ANO MANAGEMENT . CONSTITUTION The Charity is a charitable company limlled by guarantee (Company Registration number 7208973) and was sel up by a Memorandum of Assoclation on 30 March 2010.11 is registered with the Charity Commission in England and Wales as charlty number 1136492. The objects of the Charity are: To advance the Christian laith (in accordance with the stalement of beliefs). To rellave sickness and financial hardship and to promote and pr8S8f+46 good health by the provision of funds, gocyJs and seNic8s of any kind, including through the provision of counselling and support- and To advance education in such a way and in such parts of Ihe United Kingdom or the world as the Trustees from time to time may think flt. b. METHOD OF APPOINTMENT OR ELECTION OFTRUSTEES The management of the Charity is the responsibility ol the Trustees who are appointed under the terms of the company's Articles of Association. The Charity has instigated a formal process for the recrultment of new Trustees to bring addilional skills and experience to the Board ot Trustees. c. POLICIES ADOPTED FOR THE INDUCTION AND TAAINING OFTRUSTEES New trustees are appoinled by the Board, New Truslees are selected lor their expertise which they an offer the Charity and are invited to attend Board of Trustees meetings before their appointment. JUBILEE CHURCH FARNHAM TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 (continued) d. ORGANISATIONAL STRUCTURE AND DECISION MAKING The Trustees, who shall not be less than 3 in number, hold meetings every second monlh. The Trustees are all required to be members of the Trust and those who held office during Ihe year are shown on pag8 1. The Trustees actively review Ihe major risks which Ihe Charity faces on a regular basis and have also examined other operational and business risks and have established systems to mitigate significant risks. The Charity's risks are reviewed an ongoing basis, as and when requlred. OBJECTIVES AND ACTIVITIES a. POLICIES AND OBJECTIVES In setting objectives and planning for acllvlties, the Trust8es have given due consld8ratlon to general guidance published by the Charity Commission relating to public benelit and in particular to ils supplementary public benefit guidance. The Trust is involved in the running of congregations in Famham and Bordon. It is involved in many community-based prolecls as can be seen in the review of activities below. b. ACTIVITIES FOR ACHIEVING OBJECTIVES These are set out in the 'Review of activities" section below. ACHIEVEMENTS AND PERFORMANCE a. GOING CONCERN After making appropriate enquiries, the Trustees have a reasonable expectatlon that the company has adequate resources io continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the flnanclal statements. Further details regarding the adoption ol the golng concern basis can be lound In the Accouniing Policles. b. REVIEW OF ACTIVITIES 2023124 was a year in which we continued lo consolidate following the pandemlc, calllng it a 'Year of Discovery,. We Inv8Sted In the refufbishment of our building to better serve our community and began the process to rel8asg our Whitehill and Bordon site to become its own independent church. Throughout the year, we held weekly Sunday Services, seeing many visitors and delivering an outstanding programme lor around 50 children each Sunday, including a special group to meet Ihe needs of children wilh additional needs. Our midweek small groups, prayer meelings, and Just Worship evenlngs continue to serve our growing congregation. Our weekly afterschool club, The Den, has attracted more children from the community. This, along wilh our growing Youth group and fortnightly pre-leen girls, group, Jabble, serve the next generation. JUBILEE CHURCH FARNHAM TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 (contlnued) b. REVIEW OF ACTIVITIES (Conllnued) In April, we ran a men's breakfast and ladies, breakfast to encourage fellowship and growlh. In May. we organized our Spring Away children's weekend away for 78 children in school years 3-6 from both Jubilee and The Vine Church, Odiham, who came together for a weekend filled with ouldoor activities, craft sessions, games, worship, and Bible teaching. Also in May. we used the Coronatlon of King Charles111 as a springboard for outreach. Our Sunday Lunch programm8 drew in many newer people to Jubilee, helping them teel part ot th8 community. In June, we ran a successlul Waverley Woods Church Camp wlth 223 adults and children. We extended the weekend to Sunday evenlng and partnered with the Waverley Abbey Trust team to hold a jazz concert open to the public, In July, we played a major rol8 in bringing Farnham Churches together for a Joint service at Waverley Abbey House, followed by a rnasslve picnic and aftarnoon of fun and games. This, along wilh the accompanying jolnt church youth event on the Saturday night, is evldence of excellent inter-church collaboration across the lown. Addltionally, In July, our youth team took 58 young p80pla from three differ8nt churches to the Newday Youth Feslival, which was loved by all. At tha end of August, 67 aduhs and children galhered at our denomlnatlon's Commission Festival. Both these events built a sense of communlty In the church and were loved by everyone who attended. In September, at our Vlsion Sunday, we thanked God for our revamped building that was belng used to serva the community. We also announced that11 was the right time for our Whilehill and Bordon Site to become a church in its own right. We launched the Alpha Course with 14 participants and the When Draams Change Course for 8 parents of children wilh additional needs and had 39 people attend our Safeguarding trainlng. Followlng the success of 2022's 'Llght Party,, wa were ke8n to host aV8n more children in 2023. Using Weydon School's Main Hall as a venue, we celebrated the 'Lighl that Jesus Gives, wilh more than 101 children, half of whom do nol usually atlend church. Throughout Ihe autumn, monthly Sunday lunches at Weydon Christian Centre were attended by around 80 people and provided beneficial opportunities for people to reconnect. We also joined with other Farnham churches for a special concert that explored the issue of suffering. For this year's Carol Service, we decided to launch a Communily Choir and, through November and December, had four rehearsals. The choir included people from both Jubilee and the local community and performed at our annual Carol Service, which attracted 254 people at Weydon School. This was followed by a well-attended family nativity serrfice the following week. Many of The Den lamilies altended and were invited back lo Weydon Chrislian Centre for a fantastic Christmas Lunch. Our Annual Church Dlnner took place in January 2024. hosted in Ihe Medici Theatre at Weydon School, and attended by 77 Jubilee Church memb8rs. The time was well spent reflecting on the past year and praying lor the year ahead. The annual dinner was the climax of a week of pray8r. In January. we started a monthly support group for families with additional needs and held another When Dreams Change course, attracting parents from the community. A 'Flourish' ladies, event JUBILEE CHURCH FARNHAM TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 (conllnued) b. REVIEW OF ACTIVITIES (Contlnued) and men's breakfast, a pancake party for The Den children, and our Jusl Worship sessions ware all great successes. Throughoul the autumn, considerable work took place to establish our Whltehlll and Bordon sile as its own church, called Lifespring Church. A new CIO was set up to be ils legal and charitable framework, starting from April 2024. In readiness for Ihis, we also appolnted a new eldership team al our Whitghill and Bordon site in January. Throughout the financial year, Jubilee facilltated tralnlng for its staff and rn8mb&rs, includlng attending some Commission Leadership Conferences. The intention was nol only to ensure that we meet the highest standards In vital areas such as safeguarding for our children's mlnlstries but also to develop innovative and compelling programmes lor all attendees. We also continue to support one ol our Paslors with his PhD sludies. Jubilee Church also contributes time and money to a wider network ol Churches called Commission, which funds projects around Ihe world to alleviate poverty and to plant churches. Our Senior Pastor serves as a Irustee for Farnham Chrislian Community Trust, the charilable framework for churches working together. He and many Jubilee members s8rv8 in a varlety of community projects like Foodbank, Farnham Mon8y Advice, Farnham Schools Work, Bereavement Care, etc. all of whlch senle the most vulnerable in the community. We thank God for HIS goodness to us in 2023124. c. PUBLIC BENEFIT In preparing their statements on public benefit, contained within this Trustees, Annual Report, the Trustees have, in accordance with s.4 01 the Charities Act 2006, considered the Charity Commission's general guidance on public benefil, as well as the specific guidance on public benefit and fee charging. The Trustees believe Ihat public benefit is provided by the activities listed in the "Review of activities" above. d. FUNDRAISING ACTIVITIESIINCOME GENERATION The Charity receives mosl of its funding from voluntary conlributions supplemented by gift aid. Where appropriate it seeks grants or donations to support its activities. It relies on the generosily of donors for its contlnuing in op8ration. The Trustees have reviewed the Resenies of the charity. They have agreed that the trust should aim to maintain holding a reserve equivalent to three months of salaries {currentSy approximately £33,000). The charlty's funds at the balance sheet date total £132.918 (2023- £169,554). This is made up of designated fund of £105,937 (2023 - £105,937) representing the written down value of the charily's property and unrestricted funds of £26,981 (2023 - £63,618). JUBILEE CHURCH FARNHAM TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 (contlnued) FINANCIAL REVIEW RESERVES POLICY PLANS FOR FUTURE PERIODS The church Intends over the next lew years to continue and to expand Its activilies in Farnham and Bordon. MEMBER'S LIA8ILrrY The company is limited by guaranlee. On a winding up of Ihe company the members will each be required to contribute a sum not exceeding £1. CASH FLOW STATEMENT EXEMPTION As pemiitted under Ihe Charities SORP 2015, Ihe Trustees have not prepared a Cash Flow Statement, as the charity is not a larger charity. SMALL COMPANY PROVISIONS This report has been prepared In accordance with the special provisions relating to companles sublect to the small companies regime within Part 15 of the Companles Act 2006. PAYMENTS TO OR ON BEHALF OF THE TRUSTEES The church minlster, Mr S Gubb recelved a salary for their work for the church as set out in Note 4 to the financial statements. His salary was agreed by the othar Trustees, and he was not present during discussions aboul his salary. He also received the sum of £7,875 (2023- £7,693) during the year lor costs he incurred on behalf of the charity. All expense payments are authorised by other Trustees. PAY POLICY FOR SENIOR STAFF Salaries for key management staff are set by the Remuneration Committee (made up of non-paid Trustees). in acoordance with the charity's Remuneration Policy and approved by the Trustees. Local and national comparators are taken into account, alongside Individual responsibility levels and perfomance. JUBILEE CHURCH FARNHAM TRUSTEES. REPORT FOR THE YEAR ENDEO 31 MARCH 2023 (continued) TRUSTEES, RESPONSIBILITIES STATEMENT The Trustees (who are also dir8Ctors ol the Charily for the purposes of company law) are responsible for preparing the Trustees, report and the financial siatements in accordance with applicable law and Unitad Kingdom Accounling Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial y8ar. Under company law Ihe Trustees must not approve the financial statements unless they are satlsflad thal they give a Irue and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources. including the income and expenditure of the charilable company lor that period, In preparing these financial statements. the Truslees ar8 required to: S81ect suitable accounllng policies and then apply them consislently; ObseNe the methods and principles in the Charities SORP. Mak8 judgments and accounting estimates that are reasonabl8 and prudent; Prepare the financial statements on the going concem basis unless it is inappropriate to presume Ihal the charltable company will continue in operation. The Trustees are responsible for keeping adaquate accountlng racords that are sufficlent to show and explain the charitable company's transactions and disclose wilh reasonable accuracy at any lim8 Ihe financial position of the charitable company and enable them to ensure thal the financial statem8nts comply with the Companies Act 2006. They are also responsible for saleguardlng the assets ol the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. This report was approved by the Trustees and signed on their behalf by: Mr l Fletcher Dale: 191h December 2024 Trustee JUBILEE CHURCH FARNHAM INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF JUBILEE CHURCH FARNHAM I report on the financial slalements of the charity for the year ended 31 March 2024, whlch are set out on pages 10 to 20. Thls report is made solely to the company's Trustees, as a body, in accordance with section 145 of the Charities Act 2011 and regulations made under section 154 of that Act. My work has been undertaken so that I mighl state to the charity's Trustees those matters l am required to stat8 to them in an independent examiner's report and for no other purpose. To the lullest extent permitted by law, I do nol accept or assume responsibility lo anyone other than the charity and the charity's Trustees as a body, for my work or for this report. The financial statements have been prepared in accordance wlth Accounling and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Récomm8nded Practice issued on 1 April 2005 which is referred to In the extant regulations but has been withdrawn. Thls has been done in order for the accounts to provide a tru8 and fair view In accordance with the Generally Accepted Accounting Practice effectlve for reporting perlods beginnlng on the after 1 January 2015. R•8pectlve r08ponslbllltles of Tru8tee8 and Examlner The Trustees, who are also th8 dlrectors of the company for the purposes of company law, are responsible for the preparation ol the financial statements, The Trustees consider Ihat an audit Is not required for this year und8r seclion 144(2) of the Charltles Act 2011 (the Act) and that an Independent examlnation is needed. The charity's gross Income exceeded £250,000 and l am qualified to undertake Ihe examination by being a qualified member of the Insiitule of Chartered Accountants in England and Wales. Havlng satlsfled myself thal the charity is not subject to audit under charity or company law and is eligible for independent examination, it is my responsibility to: examlne the financial statements under section 145 of the Act. to follow the procedures laid down in the general Directions given by th8 Charity Commission under s8Ction 145{5)b of the Acl; and state whether particular matters have come to my attention. JUBILEE CHURCH FARNHAM INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF JUBILEE CHURCH FARNHAM (Continued) Basls of Ind•pondant Examiner's Report My examination was carried out in accordance wilh the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of Ihe financial statements presented with those records. It also includes corbsideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do nol provide all the evidence that would be required in an audit, and consequentty no opinion Is given as to whether the financial statements present a 'true and fair view, and the report is limited to Ihose matters set out In the statement below. Independent Examinerfs statement In connection wlth my examination, no matter has come to my atlention: (1) which gives me reasonable cause lo believe that in any material respect the requlrements: lo keep accounting records In accordance with section 386 of the Companles Act 2006; and lo prepare linancial statements which accord wlth the accounting records, Accounling and Reporting by Charities preparing their accounts in accordance wlth the Financial Reporting Standard in the UK and Republic of Ireland {FRS 102) and in other respects comply with the accounting r8quirem8nls of s8Ction 396 of the Companies Act 2006 and wlth the mathods and principles of the Slatement of Recommended Praclice,. Accounting and Reporting by Charities. have not been met., or (2) to whlch, In my oplnlon, attention should be drawn in order to enable a proper undarstandlng of the linancial statements lo be reached. Signed: Mark Dickinson FCA Shaw Gibbs (Audit) Limited Wey Court W8St, Union Road Farnham Surrey GU9 7PT JUBILEE CHURCH FARNHAPI Reglstere(I Conwany. 7208973 Registered Chaiity.. I1￿492 STATEMENT OF FNANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 (INCLUDING INCOME AND EXPENDrruAE ACCOUNT) Total unrestrlcted & rnstrlcted FundA 2023 Noto8 Unr081rlct•d Deslgnaled R•$lrlcl Fundg Funds Funds Total 2024 INCOME DO￿tiorS Tatal Income 321,464 321,464 321.464 321.464 329,192 329,192 EXPENDrruAE CharllablB actlvltl•$ Church Aclivilies Commurily Aclivlties Govefnarte cos18 Total expendhur• 289.827 13,873 53,201 303,700 53,201 1,200 358,101 276,795 47,932 1,200 325.927 1.2Crf) 291.027 67.074 NET NCOMEI(EXPENDrruFIE) 30,437 67.074 36,637 3,265 Trarslers between furKIs (67,074) 67,074 NET IAOVEMENT IN FUNDS 36.637 36,637 3,265 REcONCIUAT￿N OF FUNDS FUNDS 8ROUGHT FORWARD 63,618 105.937 169,555 166.290 FUNDS CAARED FORWARD 26,981 105,937 132,918 169,556 rnles on pages 1210 20 lorm part ol th888 fInar￿la1 slalem8rt8. 10 JUBILEE CHURCH FARNHAM BALANCE SHEET AS AT 31 MARCH 2024 Company registration number 7208973 Notes 2024 2024 2023 2023 FIXED ASSETS Tarolble Assets 239,328 204.195 CURRENT ASSETS Debtors Cash at barf( & In hand 6.175 44,109 17,017 41,152 50,284 58,169 CREDtroRS: wittNn 0￿ year 5,016 12,376 NET CURRENT ASSETS 45,268 45,793 CREDrroRS: dLB afler one year g 151,678 1151,678) 180,433) TOTALNET ASSETS 132,918 169,555 CH*RrrY FUNDS RESTRICTED FUNDS Gerwal FLnJ8 Designated FWKJS UNREsTR￿TED FUNDS 28,981 1 OS,937 63.818 105,937 132,918 169,555 TOTAL FUNDS 132.918 169.555 Trustees cortsider that compary Is entllled to èxemption from Il* requtrement to Nqve an aL*JIt uTrJ8r It￿ provlslor6 ol section 477 of the Companies Act 2CQ6 ('the Acl'l aTvJ members have not required IfB coff4)any to obtaln an audit for year In question in accordar¢e wilh section 476 of Acl, Trustees acknowrfedge tr￿1r responsibllllles for 8nsurirYJ Ikol Ihe compary keeps aGcow¢tlr¥J records Mch compty with section 386 of ltr￿ Act aThJ for preparirKJ fIna￿la1 statements vthch give a In￿ fair view of Ihe stale of aflalrs of Ihè compary as at 31 March 2024 and of Ils rel rasourcos expeThJed for tre year then e￿jed in aCcOrda￿e with tIE requiramonts of section 394 395 ot Act aTh Ythch olhamise comply with tho requirements of Ihe COmpa￿e8 Act 2006 relalirwJ to th8 flnancial stat&ments so far as applicable to compary. Th8se flnarKial statemenls have baen prepared in accordan￿ wllh Il* special provisions relatir¥J lo compardes subject to ts smal companies regime witINn Part 15 of Companles Act 2006. These fIna￿la1 slatements were approved by ts Trustees on arKI are sigred on their behalf by: Mr l Flelch8r - Trustee JUBILEE CHURCH FARNHAM NOTES TO THE FINANCIAL ST ATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1 ACCOUNTING POLICIES (a) BASIS OF PREPARATION OF FINANCIAL STATEMENTS The financial stalerrenls have b&en prepared in accordance wilh Acountlng and Reportlng by ChaTilies.' Stateffenl ol R8conYnend8d Pracli¢e applicable lo charities PTepaTlng Iheir accounts in accordance with the Financial Fleporting Standard applicable in Ihe UK and Republic of Ir81and {FRS 102} {ellactivo 1 January 20151- ICharili8s SORP IFRS 10211 and the Companies 2(M)6 The Charity has adopted the amendmnls made lo SORP 2015 in Update Bullelin 1. (Effective January 2015). The financial stateffenls have b8en prepared lo glve a 'lrue and lali, view and have departed Irom the Charities Ik¢ounts and Reports) Regulations 2008 only lo the extent required lo provide a Iru8 and lalrf view. This departure has involved lollowing the Gharllles SORP (FRS 1021 published on 16 July 2014 ralh8r than Iha Accounling and Fleporting by Charities: Slateffonl of Recorrmended Pracllce eff8cIOve trom 1 April 21))5 whl¢h has slnce been wilhdrawn. Jubilee Church the definition of a public benefit 8nllty under FRS 102. Assets and liabilitles are initially recognised al hislorlc cost or transaction value unless Otherwise slalod in the relevant accounllng policy. (b) COMPANY STATUS The company Is a company IINMted by guarantee. the Trustees nar￿d on page l are al80 mbers of the conpany. In the event ol the cOrr￿anY belng wound up, lh8 liablllty in rospect of Ihe guaran189 is limted lo £1 per Thn*er ol the company. (c} FUND ACCOUNTING General funds are unre81ricled funds whlch are available for use al the discrellon of the Twstees in lurtherance ol the g8neial objectives ol the company and whlch have not been designated for othar purposes. Designated funds corryrise unreslrlcted lunds Ihal have been set aslde by Ihe Trustees for particular purposes. The aim and use ol 8a¢h deslgnaled lund is sel oul In the nolas lo Iho financlal slalerronls. Reslricled funds are funds which are used in accordanco with specific restricllons Smposed by donor8 or which have been raised by ttie company for partlcular purposes. The costs of raising and adrrinislering such lunds are charged against the specilic fund. The aim and use of each restricled lund is sel oul in the noles to the financSal stalemenls. Id) INCOME All income is recognlsed once the Company has enllllenwnt lo Ihe incorn. It Is probable Ihal Ihe in￿rr* will be received and Ihe arrrjunt ol incoTh receivable can be n￿asured rellably. Voluntary income is received by way of donations and gills, and is inclu(led in lull in the SlatenEnl ol Flnan¢ial h£llviti&s when received. Donations arising under gift aid and deeds ol covenant. together with Ihe lax recov&rable Ihereon, arè accounled for when received. Provision is made lor gilt aid y81 unclaIn￿d al Ihe year end on incorre rec•ivo(I prlor to Ihe end ol the financial period. 12 JUBILEE CHURCH FARNHAM NOTES TO THE FINANCIAL STATEMEMfs {Contlnued) FOR THE YEAR ENDED 31 MARCH 2024 1 ACCOUNTING POLICIES (CONnNUED) (e) EXPENDITURE E>pendilure is recognised once Ihere Is a legal or ¢onslTu¢tive obligation lo make payment to a thlrd parly. it is probable that settleffenl will be required and the amjunt ol the obligalion Can be n￿asUred r81iably. AJI expendFture is accounted for on an accrua18 basis. AJI @XP8ns8s including support costs and governanc8 costs are allocated to Ihe applicable expenditure headings cosl categori8s. Support ¢osls are those costs incurred dlreclly in support ol expenditure on the obsecls ol the corr¢)any. Support costs have been allocaled beiween govemance costs, whlch are those Incurred in connecllon with adminislralion ol the company and complianca with constitutional and slalulory requirements, and other 8UPPOrt Costs. (fj GOING CONCERN Th8 Trus18es consid&r Ihat there ara no material uncertainlies about the charltys ablllty to conlinue as a going Concern, (g) CASH FLOW The charllable company has taken advantage of tho exemption lo produce a cash Ilow slalernnt in accordance with Update Bu1181in 1. (h) DEPRECIATION Fixed as8els are lor the use ol the conyany In fulfilling ils main charilable objectives. hssels over £250 are capilalised and deprecial8d. Depreciation is piovidad 81 rates consIde￿d approprlate lo reduce book values lo esllnHte residual values over the useful Ilves ol the assets concornod... Equipn*nl P8rmanenl Bulldings 25% slraighl line 5% Slraighl line III CREDITORS AND PROVISIONS Credltors and provisions are recognis8d wherg the ¢orry)any has a prgsenl obligation results'ng from a past evenl Ihat will probably resull in Ihe transler ol funds lo a Ihird party and the arrount due lo sellle the obligation can be ￿￿asured or eslirraled reliably. Creditors and provlslons are normally recognised al Ihelr sellleffenl amunl. 13 JUBILEE CHURCH FARNHAM NOTES TO THE FINANCIAL STATEMENTS (Continued) FOA THE YEAR ENDED 31 MARCH 2024 1 ACCOUNTING POLICIES (CONTINUED) TAX STATUS The charltablè company is recognised as a charity and Iherefore Is nol assessable lo corporalion tax on any surplus charitable funds. (k) PENSIONS The company operates a defined contribullon pension scheme and the pension charge represenls the amunls payable by the coryany lo Ihe lund in respeth ol Ihe year. (11 CRITICAL ACCOUNTING ESTIMATES AND ASSUMPTIONS Eslirykgles and judgements are continually evaluated and ar8 based on historical eyari8nc8 and olher factors, including eypeclations of lulure events Ihat are belS8ved to be reasonable under the circufftslances Crllical accounting estlffÉtes and assuffotions: The coryany makes esllmates and assumpllons concerning Ihe future. Th8 r&sultlng accounlng eslinkqles and assurytions wlll, by definlllon, seldom equal the related actual results. The eslinkqles and assurrptions that have a slgnifi¢ant risk of Causing a material adjustment lo the carrying armunl8 of assets and liabilities within the noxl linanclal year are discussed bolow. Critical area8 01 judgemenl.. Tanglble lixed assels are depreciated over their useful Ilves taklng Into account residual values where appropriate. The actual lives of the assets and residual values are assessed annually and rroy vary dependlng on a nunkner ol laclors. In re-assessing the asset lives, factors such as technologlcal Innovation, producl Ille cycles and malnlenance programms are laken into account. Residual value8 consider future markel conditions. the remainlng life ot the asset and prolecled dlsposal values, 14 JUBILEE CHUACH FAFINHAM NOTES TO THE FINANCIAL STATEMENTS (Conllnued) FOR THE YEAR ENDED 31 MARCH 2024 Total un￿strICted & re8trlcled Fund8 2023 2 DONATIONS Unre$tri¢ted Designated Restrlcled Tolal Fund8 Funds lunds 2024 Donaiions under GSft Ald Olher Donations Tax Recoverable 209.230 65.749 46,485 321.464 209,230 65,749 46,485 321,464 201,988 73,351 53,853 329,192 2023 329 192 3 EXPENDITURE Unre8trlcted D981gnated Re8trlcted Total Funds Fund8 fund8 2024 Tolal 2023 aa CHURCH ACTivfriES Staff Costs Meellng Costs Evangellsm Bulldlng Costs Olh81 adnlnlslraiive Cos18 Insurance Church Evants Mission Giving 152,427 35,335 4,819 24,330 36,679 1,671 7,062 27,S04 289 827 152.427 35,335 4.819 38.203 36,879 1,671 7,062 27,504 303 700 141.S53 30,966 5,848 31.173 34,915 1,532 2,014 28.794 276 795 13.873 2023 270 335 15 JUBILEE CHURCH FARNHAM NOTES TO THE FINANCIAL STATEMENTS (Conllnu8d) FOR THE YEAR ENDED 31 MARCH 2024 Total unfe8tricted & r08trlcted Funds 2023 Unroslrlcted D•slgnal•d R?strlcled Fund8 Funds funds Total 2024 3b COMMUNITY ACTIVITIES 3bl Chanlry8 Acllvltles Staff Cosls Olher Adnlnlstrallve Costs 3bll Tlx Don Staft Costs Other Adninistrative Costs 22.062 5.637 22,(k82 5,637 27,699 19,301 6,037 2S.338 In 2023 all Gosls were from deslgnated lunds 3blll Schoo18 WO Staff Cosls In 2023 all cosls were from designated lunds 6.129 6,129 5,361 3blv FCCT Staff Costs In 2023 all costs were from designated lunds 19,373 19,373 17,233 TOTAL COMMUNrrY ACTIVITIES 53,201 47,932 2023 47.932 47,932 16 JUBILEE CHURCH FARNHAM NOTES TO THE FINANCIAL STATEMENTS {Conllnued) FOR THE YEAR ENDED 31 MARCH 2024 4 STAFF COSTS 2024 2023 Wages and salarles S￿la1 Securlly Cosls Penslon Cosls 174,349 2.411 12,981 159,732 1,554 12,305 173591 The average number of staff enwloyed by Ihe charilable company during the year were: No. ol Employ••8 2024 No. ol Employee8 No. ol FTE 2023 2023 No. ol FTe 2024 Church kllvllles Community Pdivllies Renwneratlon was pald to Truslees and Ihelr close lamlly as follows: S Gubb 2024 H Gubb 2024 Total 2024 Total 2023 Salaries Soclal SeNlce Costs Penslon 22,081 1,248 3,588 11,349 33.430 30,478 1.248 1,760 4,496 4,122 908 Houslng allowance £19,800 £19,800 £19,800 No employee eam8d llmjre than £60,000 pèr annum. The charllable conpanys Memorandum ol knoclatlon pemths the renwneralion ol Mr S Gubb who Is a Dlrector and th8 Mlnlster of the Church. Mrs H Gubb is the wll8 ol Mr S Gubb, a Dlrector. She is the church chlldr8n's worker and has a normal contract of employ￿nI. Declsions eonc8rning paym8nls to Directors or Iheir related partles are always made wilhoul the r818vant Director. No olher Dlr8Ctor or clos8 r8latSv8 r8calv8d any re￿￿neratIon. Key management Pe￿Onnel are Ihe one (2023 - one) remunerated dlrecloi. 17 JUBILEE CHURCH FARNHAM NOTES TO THE FINANCIAL STATEMENTS (Continued) FOA THE YEAR ENDED 31 MARCH 2024 5 NET INCOME FOR THE YEAR This is stated after charging.." 2024 2023 Independent examiner fees Depreciation 1,200 16,481 1,200 9,152 10,352 TANGIBLE FIXED ASSETS Building8 Equlpment Total Cost Balance as at 1 ￿111 2023 Addilions Disposals Balance as at 31 March 2024 275,911 51,613 37,654 313,565 51,613 327 525 365,179 Depreclatlon 8alance as at 1 Aoril 2023 Charge Disposals Balance as al 31 March 2024 78,980 13,873 30,390 2,608 109,370 16,481 92,853 32,998 125,851 Nel Book Value at 31 March 2024 234,672 4,656 239 328 Net Book Value at 31 March 2023 196,931 7,264 204 195 7 DEBTORS 2024 2023 Other Debtors Prepayments 6,175 1,632 15,384 CREDITORS DUE WITHIN ONE YEAR 2024 2023 Other Taxes and Social Secunty Other Creditors 813 4,203 1.296 11,080 12,376 9 CREDITORS DUE AFTER ONE YEAR 2024 2023 Other Loan 151.678 151 678 80.433 The loan is set at 1% below the UK Bank base rate. 18 JUBLEE CHURCH FARNHAM NOTES TO FINANCIAL ST ATEMENTS Iconlinued) FOR THE YEAR ENDED 31 MARCH 2024 10 MOVEMENT ON FUNDS Balan¢• Income Exp•ndlturn Tran8hr8 Balance 01-Apr B8twe•n 31-Maf 2023 lund8 2024 Unrestrlcted General Fund 63,618 321,464 1291,027) (67,074) 26,981 Deslgnated Funds Den sC￿oIs work FCGT Capital FuThY - Weythn Christian Certr8 Total De8lgnaled Fund8 (27.6991 {8,1291 (19.3731 13.873 (67,074) 27,699 6,129 19.373 13 873 105,937 67,074 105,937 105.937 105,937 166 290 321 464 358 101 132,918 D081gnatod Funds FCCT . Ttris fund rallects tl* investrnent of lime ty Jthilea slafl in Farrtwm Chjrches Together project8 Indfvklual8 - Tl* charity ha8 recelved gif18 specificalty for iTrJlvidual8' needs. The Don . t￿80 luThJs are lor a Friday allerrv)on cornmurity based chlldren's mI￿$try designed to rea¢h OLrt lo less allluBrt parts ol Famham. Schools Work- This fur#J enables charity lo secoThJ staff Into int8rursed to one trustee during the year. <2023 - £7,693). 13 PENSION Tha company operales a deflned contributions penslon schen*. The assets of the Sche￿ are held s8parately from those of th8 corrpany in an ind8pendently administered fund. The pension costs charge represenis coniributlons payable by the corrpany to the lund and totalled £14,436 (2023 - £12,305) At the year end £Nil was accrued (2023 - £NII) 14 CONTROLLING PARTY The charltable conyany is under th8 control of tha trustees 15 LEGAL STATUS The company is a charitable company incorporated in England and Wales. Its registered off ice is Weydon Chrislian Centre. Upper Way, Farnham GU9 8RL 20