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← Mowbray Community Church

2024-03-31-accounts

Company registration number: 07286282 Charity registration number: 1136824

MOWBRAY COMMUNITY CHURCH

(A company limited by guarantee)

Annual Report and Financial Statements for the Year Ended 31 March 2024

HPH Chartered Accountants Conyngham Hall Business Centre Bond End KNARESBOROUGH HG5 9AY

MOWBRAY COMMUNITY CHURCH

(A company limited by guarantee)

CONTENTS

Page
Reference and Administrative Details 1
Trustees' Report 2 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Statement of Cash Flows 8
Notes to the Financial Statements 9 to 17

MOWBRAY COMMUNITY CHURCH

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS

Charity name Mowbray Community Church Charity registration number 1136824 Company registration number 07286282 Registered office Westmoreland House Westmoreland Street HARROGATE North Yorkshire HG1 5AT Trustees D Collett M Harrison - Resigned17/12/2023 M Wood (Treasurer) G Roberts - Appointed 17/12/2023 M Wingrave - Appointed 17/12/2023 R Rushmer - Appointed 17/12/2023 T Fournier - Appointed 17/12/2023 D Jamieson - Resigned 01/08/2023 Elders D Collett M Wood M Harrison M Wingrave T Fournier R Rushmer G Roberts N Somerville Independent Examiner Sarah Wearing, FCA, DChA HPH Chartered Accountants Conyngham Hall Business Centre Bond End KNARESBOROUGH North Yorkshire HG5 9AY

1

MOWBRAY COMMUNITY CHURCH

FOR THE YEAR ENDED 31 MARCH 2024

TRUSTEES’ REPORT

The Trustees of Mowbray Community Church are directors for the purposes of company law and trustees for the purposes of charity law (hereinafter referred to as “the Trustees”). The Trustees present their report and accounts for Mowbray Community Church for the period 1 April 2023 to 31 March 2024.

GOVERNING DOCUMENT

Mayfield Community Church was incorporated as a company limited by guarantee on 16 June 2010, company number 07286282, and received charitable status on 12 July 2010, charity number 1136824. The company’s name was changed from Mayfield Community Church to Mowbray Community Church (the Charity) on 19 September 2011.

The governing document of the Charity is the Memorandum and Articles of Association dated 16 June 2010.

LEGAL AND ADMINISTRATIVE INFORMATION

This information is presented in pages 1 of the accounts.

OBJECTS OF THE CHARITY

The objects are the advancement of the Christian faith and the worship of God in the United Kingdom and overseas by any means whatsoever and such other charitable purposes as shall further the attainment of this object.

APPOINTMENT OF TRUSTEES

A person may be appointed to the trusteeship by a resolution passed by the elders of MCC. The Trustees, when complete, consist of at least five and not more than twelve individuals of whom at least five must be elder-trustees and up to two may be non elders.

ORGANISATIONAL STRUCTURE

The Charity is managed by a Senior Leadership Team assisted by a Ministry and Operations team of elders and deacons. The Senior Leadership Team is responsible for the principles, direction, and oversight of the church while the Ministry and Operations Team are responsible for operational matters. Remuneration of the charity’s key management personnel is set by the Directors and CPI is used as a guide.

The Charity does not have a paid Fundraiser and there are no targeted fundraising initiatives. Fundraising activity is mainly through individual gifts.

REVIEW OF ACTIVITIES DURING THE PERIOD

The Charity continued its core activities in pursuit of its objectives and has seen more individuals coming into membership. MCC continued through a period of interregnum, that is without a full time paid Pastor position, whist actively continuing the search for a suitable replacement.

==> picture [455 x 59] intentionally omitted <==

2

MOWBRAY COMMUNITY CHURCH

FOR THE YEAR ENDED 31 MARCH 2024

TRUSTEES’ REPORT

FUTURE PLANS

A Recruitment Group was formed and is actively engaged in recruiting a new Pastor. Alongside this the Senior Leadership Team have been reviewing the organisational structure to ensure it is best designed to fulfil the Vision and Strategy of the church in future. Other vacancies within the new structure have been identified which the Recruitment Group has been tasked with helping to fill.

PUBLIC BENEFIT

Public benefit is provided through the teaching of the Christian faith, mentoring of adults and children and engagement in the services highlighted above. In addition to the spiritual and eternal benefit of such teaching and mentoring, the core principles at the heart of the Christian faith should, when implemented, lead to constructive and progressive engagement of those mentored with the wider community.

We have referred to the public benefit guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our objectives and in planning our future activities. The aims of Mowbray Community Church are undertaken specifically to ensure the charitable objects meet the public benefit requirement and the Charities Act 2011.

VOLUNTEERS

The Church also benefits greatly from the involvement and enthusiastic support of its many volunteers. In accordance with Charities SORP, the economic contribution of general volunteers is not recognised in the accounts.

FINANCIAL REVIEW

Financial support for the activities that help the Charity achieve its objects continues to be drawn almost exclusively from voluntary donations by members of Mowbray Community Church, including Gift Aid which is added to eligible gifts. Donations have been given at considerable personal sacrifice and the Trustees are firmly of the view that voluntary donations will continue to meet the Charity’s on-going requirements. Financial issues are not the major regulator of the Charity’s activities and the Trustees are determined to continue to develop the work of the Charity consistent with its objects and may at times, in faith, go ahead of the apparent financial resources. Although, at times, this approach is likely to stretch the resources and commitment of the church members, this is not considered to be imprudent.

Currently we support a number of part-time staff including a CAP Centre Manager, two CAP Debt Coaches, Children’s Worker, and Operational support staff as well as cleaning staff. We have a vision for increasing our activities anticipating ongoing generous support financially by our members, who share the ambition, to achieve our goals. This is all part of our ambition to raise our profile, improve our pastoral ministry and widen our influence in Harrogate driven by our determination to advance The Faith locally.

RESERVES POLICY

The Charity seeks to maintain cash reserves of at least £25,000 which represents approximately four weeks’ expenditure. It also recognises that from time to time this amount will not necessarily be identifiable but is confident that the nature of its membership is such that this amount could be made available should extreme circumstances ever demand such. At the year end the free reserves of the Charity were £121,135 (2023 - £52,826).

3

MOWBRAY COMMUNITY CHURCH

FOR THE YEAR ENDED 31 MARCH 2024

TRUSTEES’ REPORT

The total funds held by the charity at 31 March 2024 was £1,157,416 (2023 - £1,102,142) Restricted funds totalled £6,352 (2023 - £1,250) and designated funds totalled £1,029,929 (2023 - £1,048,066) which equals the property net book value after deducting the charity bank loan secured against it.

RISK POLICY

The Trustees have introduced a formal risk management process to assess risks to the Charity and implement risk management strategies. This involves identifying the major strategic, business, and operational risks the Charity faces, prioritising them in terms of potential impact and likelihood of occurrence and identifying means of mitigating the risks. This is an on-going process, with the risk register being updated on a regular basis. The Trustees believe the largest risk facing the Charity to be the risk of loss of the premises due to fire or accident. This risk is mitigated by an insurance policy.

TRUSTEES’ RESPONSIBILITIES

The Trustees are responsible for their annual report and for the preparation of the financial statements for each financial period which give a true and fair view of the state of affairs of the Charitable Company as at the end of the financial period, and of the incoming resources and application of them for that period. In preparing those financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which are sufficient to show and explain the Charitable Company's transactions and to disclose with reasonable accuracy at any time the financial position of the Charitable Company and to enable them to ensure that any statements of account comply with the requirements of the Companies Act 2006. They are also responsible for safeguarding the assets of the Charitable Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Each Trustee has taken the steps they ought to have taken as a Trustee in order to make themselves aware of any relevant information and to establish that the Charity's Independent Examiner is aware of that information. The Trustees confirm that there is no relevant information that they know of and which they know the Independent Examiner is unaware of.

This report has been prepared in accordance with the small companies’ regime under the Companies Act 2006.

Approved by the Board and signed on its behalf by:

...................................................... Matt Wood, Trustee Date: 19 December 2024

4

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF MOWBRAY COMMUNITY CHURCH

I report to the Charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024, which are set out on pages 6 to 17.

This report is made solely to the Charitable Company’s trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and the Charitable Company’s trustees as a body in accordance with section 154 of the Charities Act 2011. My independent examiner’s work has been undertaken so that I might state to the Charitable Company’s trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charitable Company, the Charitable Company’s members as a body and the Charitable Company’s trustees as a body for my independent examiner’s work, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the Charity’s Trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities, applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

………………………………. Sarah Wearing, FCA, DChA 19 December 2024

HPH, Chartered Accountants Conyngham Hall Business Centre Bond End KNARESBOROUGH HG5 9AY

5

MOWBRAY COMMUNITY CHURCH

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 31 MARCH 2024

Note
INCOME
Donations
3
Other trading activities
Fundraising
Rent Received
Other
TOTAL INCOME
EXPENDITURE
Charitable activities
6
TOTAL EXPENDITURE
Net expenditure
Transfers between funds
11
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
12		 Unrestricted
funds
£
291,824
-
-
826
292,650
239,388
239,388
53,262
(3,090)
50,172
1,100,892
£ 1,151,064		 Restricted
funds
£
38,403
-
-
-
38,403
36,391
36,391
2,012
3,090
5,102
1,250
£ 6,352		 Total
2024
£
330,227
-
-
826
331,053
275,779
275,779
55,274
-
55,274
1,102,142
£ 1,157,416		 Total
2023
£
303,554
2,931
2,600
26
309,111
327,153
327,153
(18,042)
-
(18,042)
1,120,184
£ 1,102,142

All activities derive from continuing operations. The notes on pages 9 to 17 form part of the accounts.

6

MOWBRAY COMMUNITY CHURCH

(A company limited by guarantee)

BALANCE SHEET AS AT 31 MARCH 2024

Company registration number: 07286282

Note
FIXED ASSETS
Tangible Assets
7
CURRENT ASSETS
Debtors
8
Cash at bank and in hand
14
LIABILITIES
Creditors: amounts falling due
within one year
9
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
LIABILITIES: amounts falling due
after more than one year
10
TOTAL NET ASSETS
THE FUNDS OF THE CHARITY
Restricted Funds
11
Unrestricted Funds
- Designated Funds
11
- Undesignated Funds
11
TOTAL FUNDS		 £
£
1,355,434
38,259
95,084
133,343
(26,553)
106,790
1,462,224
(304,808)
£ 1,157,416
6,352
1,029,929
121,135
£ 1,157,416
2024		 £
£
1,389,675
26,001
33,943
59,944
(26,130)
33,814
1,423,489
(321,347)
£ 1,102,142
1,250
1,048,066
52,826
£ 1,102,142
2023		 £
£
1,389,675
26,001
33,943
59,944
(26,130)
33,814
1,423,489
(321,347)
£ 1,102,142
1,250
1,048,066
52,826
£ 1,102,142
2023
1,423,489
(321,347)
£ 1,102,142
1,250
1,048,066
52,826
£ 1,102,142

For the financial year ended 31 March 2024, the Charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The Members have not required the Charity to obtain an audit of its accounts for the year in question in accordance with section 476. The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The financial statements have been prepared in accordance with the special provisions of Part VII of the Companies Act 2006 relating to small companies.

The notes on pages 9 to 17 form part of the accounts.

These financial statements were approved by the trustees on 19 December 2024 and signed on its behalf by:

M. Wood - Director and Trustee

7

MOWBRAY COMMUNITY CHURCH

(A company limited by guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024

£
£
Net cash provided by operating
activities (Note 13)
109,341
Cash flows from investing activities
Purchase of property, plant and equipment
(4,000)
Net cash provided by investing activities
(4,000)
Cash flows from financing activities
Repayments of borrowings
(44,200)
(44,200)
61,141
Cash and cash equivalents at beginning of the year
33,943
Cash and cash equivalents at end of the year (Note 14)
£ 95,084
Change in cash and cash equivalents in the year
2024		 £
£
28,012
-
-
(38,147)
(38,147)
(10,135)
44,078
£ 33,943
2023		 £
£
28,012
-
-
(38,147)
(38,147)
(10,135)
44,078
£ 33,943
2023
(10,135)
44,078
£ 33,943

The notes on pages 9 to 17 form part of the accounts.

8

MOWBRAY COMMUNITY CHURCH

(A company limited by guarantee)

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2024

1 GENERAL INFORMATION

The Charitable Company is a private company limited by guarantee, which is incorporated and registered in England and Wales (no.07286282).

The address of its registered office is Westmoreland House, Westmoreland Street, Harrogate, HG1 5AT.

Trustees guarantee to pay up to £1 of costs and liabilities incurred, if the Charity were to be dissolved.

2 ACCOUNTING POLICIES

2.1 Basis of preparation of accounts

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was required. There were no material adjustments to the comparative figures.

Mowbray Community Church 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 stated in the relevant accounting policy note(s).

2.2 Going Concern policy

The Trustees have a reasonable expectation that the Charitable Company has adequate resources to continue in operational existence for the foreseeable future. For long term finance they rely on loans provided by the members of the congregation and a bank loan, disclosed in notes 6 and 10. They continue to adopt the going concern basis of accounting in preparing the annual financial statements.

2.3 Fund accounting

The Trustees have a defined policy for identification of different types of income:

Further details of each fund are disclosed in note 11.

2.4 Financial Instruments

9

MOWBRAY COMMUNITY CHURCH

(A company limited by guarantee)

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2024

2 ACCOUNTING POLICIES (continued)

2.5 Income

All income is recognised in the statement of financial activities when the conditions for receipt have been met and there is reasonable assurance of receipt. Except for the following:

Donations are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.

Income from tax reclaims are included in the statement of financial activities at the same time as the gift which they relate.

Investment income is recognised on a receivable basis.

2.6 Expenditure

Expenditure is included in the Statement of Financial Activities on an accruals basis. Costs are allocated on the following basis:

Cost of generating funds - actual cost basis. Charitable activities - actual cost basis except for those included in support costs. Support costs - allocated to charitable activities on an equal basis.

2.7 Tangible fixed assets and depreciation

Fixed assets for use by the Charity are capitalised at cost, for items above £2,000. Donated assets are valued at market value on donation. They are stated in the accounts at cost/original value less depreciation.

Depreciation is calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Land and buildings 50 year straight line basis Fixtures, fittings and equipment 10 year straight line basis

2.8 Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.

2.9 Cash at bank and in hand

Cash at bank and cash in hand includes cash and any short term deposit accounts with a maturity of three months or less from the date of opening.

2.10 Creditors and provisions

Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

2.11 Pension costs

The Charitable Company operates a defined contribution pension scheme and pays into personal pension plans. Contributions are charged in the Statement of Financial Activities as they become payable in accordance with the rules of the scheme.

10

MOWBRAY COMMUNITY CHURCH

(A company limited by guarantee)

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

3 DONATIONS
Unrestricted
Funds
2024
£
Appeals and donations
258,010
Grant income
-
Gift Aid tax reclaimed
33,814
£ 291,824
In 2023 £31,334 of donations were restricted.
4 TOTAL STAFF COSTS
Wages and Salaries
Social Security Costs
Employer Pension Contributions
Other Employment Costs
No employee earned £60,000 per annum or more in the year.
Number of employees
The average number of employees during the year were:
Charitable activities		 Restricted
Funds
2024
£
21,591
16,812
-
£ 38,403		 Total
Funds
2024
£
279,601
16,812
33,814
£ 330,227
2024
£
70,590
-
515
-
£ 71,105
2024
No.
10
10		 Total
Funds
2023
£
266,045
6,700
30,809
£ 303,554
2023
£
117,780
2,958
3,130
365
£ 124,233
2023
No.
10
10

The number of employees on the payroll as at March 2024 was 10 (2023 - 10).

One member of the leadshership team was on the payroll during and therefore included as key management personnel. The Church has had no pastor during the year and is still actively seeking to fill this position.

Total emoluments paid to the key management personnel 2024
£
£1,258		 2023
£
£59,784

5 TRUSTEES' REMUNERATION AND EXPENSES

During the year no remuneration or other reimbursed expenses were paid to the trustees (2023 - £nil).

There were no other related party transactions during the year.

11

MOWBRAY COMMUNITY CHURCH

(A company limited by guarantee)

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2024

6 ANALYSIS OF EXPENDITURE

Funds
2024
6.1
Charitable activities
£
Youth ministries
5,279
Community work
22,238
Missionary
29,548
Teaching and Evangelism
1,404
Employment costs
71,105
Depreciation of freehold property
36,078
Depreciation of fixtures and fittings
1,913
Support costs
71,823
£ 239,388
In 2023 £38,014 of Charitiable Activities were restricted.
6.2
Support costs
Rates
920
Light, heat and power
8,622
Insurance
2,258
Repairs and renewals
16,197
Telephone and fax
3,095
Office expenses
3,002
Printing, postage and stationery
1,577
Accountancy fees
5,482
Legal and professional fees
2,180
Bank charges and interest
144
Loan interest
28,346
£ 71,823
In 2023 £nil of support costs were restricted.
Accountancy fees includes:
Independent examination
Statutory accounts preparation
Payroll administration costs
Unrestricted		 Restricted
Funds
2024
£
5,966
16,280
13,895
-
-
-
250
-
£ 36,391
-
-
-
-
-
-
-
-
-
-
-
£ -		 Total
Funds
2024
£
11,245
38,518
43,443
1,404
71,105
36,078
2,163
71,823
£ 275,779
920
8,622
2,258
16,197
3,095
3,002
1,577
5,482
2,180
144
28,346
£ 71,823
1,545
2,498
1,439
£ 5,482		 Total
Funds
2023
£
23,943
26,199
57,597
2,944
124,233
36,078
1,763
54,396
£ 327,153
859
7,199
727
10,911
2,989
1,420
1,929
5,071
3,414
175
19,702
£ 54,396
1,500
2,150
1,421
£ 5,071

12

MOWBRAY COMMUNITY CHURCH

(A company limited by guarantee)

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

7 TANGIBLE FIXED ASSETS

Cost
At 1 April 2023
Additions
At 31 March 2024
Depreciation
At 1 April 2023
Charge for year
At 31 March 2024
Net Book Amounts
At 31 March 2024
At 31 March 2023
8
DEBTORS
Trade debtors
Prepayments and accrued income
Gift Aid		 Land &
Fixtures, fittings
buildings
& equipment
Total
£
£
£
1,803,877
164,950
1,968,827
-
4,000
4,000
1,803,877
168,950
1,972,827
421,672
157,480
579,152
36,078
2,163
38,241
457,750
159,643
617,393
£ 1,346,127
£ 9,307
£ 1,355,434
£ 1,382,205
£ 7,470
£ 1,389,675
2024
2023
£
£
400
400
3,219
3,044
34,640
22,557
£ 38,259
£ 26,001		 Land &
Fixtures, fittings
buildings
& equipment
Total
£
£
£
1,803,877
164,950
1,968,827
-
4,000
4,000
1,803,877
168,950
1,972,827
421,672
157,480
579,152
36,078
2,163
38,241
457,750
159,643
617,393
£ 1,346,127
£ 9,307
£ 1,355,434
£ 1,382,205
£ 7,470
£ 1,389,675
2024
2023
£
£
400
400
3,219
3,044
34,640
22,557
£ 38,259
£ 26,001
1,972,827
579,152
38,241
617,393
£ 1,355,434
£ 1,389,675
2023
£
400
3,044
22,557
£ 26,001

13

MOWBRAY COMMUNITY CHURCH

(A company limited by guarantee)

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

9
LIABILITIES: Amounts falling due within one year
Bank loans and overdrafts
Social security and other taxes
Accruals
Pension
Other creditors
10 LIABILITIES: Amounts falling due after more than one year
Bank loans and overdrafts
After more than five years by instalments
Bank loans and overdrafts
Within one year
Within two to five years
After more than five years		 2024
£
21,600
526
3,928
160
339
£ 26,553
2024
£
304,808
£ 304,808
208,662
£ 208,662
21,600
96,146
208,662
£ 326,408		 2023
£
20,915
1,570
3,645
-
-
£ 26,130
2023
£
321,347
£ 321,347
228,251
£ 228,251
20,915
93,096
228,251
£ 342,262

The total bank loan of £326,408 (2023 - £342,262) is secured on the property, Westmoreland House. The loan represents 22% (2023 - 23%) of the value of the property against which it is charged.

14

MOWBRAY COMMUNITY CHURCH

(A company limited by guarantee)

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

11 FUNDS

Restricted Funds
Life Skills
Evangelism Trailer
Youth Ministies Events
Community Outreach Events
Overseas Mission Aid
Fellowship Fund
Unrestricted Funds
Designated
Property Fund
Billboard campaign
Undesignated
Free reserves
Total Unrestricted Funds
Total Funds
Restricted Funds
Life Skills
Evangelism Trailer
Youth Ministies Events
Community Outreach Events
Overseas Mission Aid
Fellowship Fund
Unrestricted Funds
Designated
Property Fund
Billboard campaign
Undesignated
Free reserves
Total Unrestricted Funds
Total Funds
Mission Partners
Mission Partners		 Balance at
£
-
-
1,250
-
-
-
-
1,250
1,046,163
1,903
1,048,066
52,826
1,100,892
Balance at
£
-
4,203
1,500
-
-
-
-
5,703
1,065,309
1,903
1,067,212
47,269
1,114,481
£ 1,120,184
1 April 2022
£ 1,102,142
1 April 2023		 Income
£
10,805
16,812
-
1,673
4,680
140
4,293
38,403
-
-
-
292,650
292,650
£ 331,053
Income
£
3,740
6,700
-
1,215
2,030
10,304
7,345
31,334
-
-
-
277,777
277,777
£ 309,111		 Expenditure
£
(13,895)
(11,460)
(250)
(1,673)
(4,680)
(140)
(4,293)
(36,391)
(66,337)
-
(66,337)
(173,051)
(239,388)
£ (275,779)
Expenditure
£
(4,717)
(10,903)
(250)
(2,029)
(2,466)
(10,304)
(7,345)
(38,014)
-
(57,293)
-
(57,293)
(231,846)
(289,139)
£ (327,153)		 Transfers
Balance at
£
£
3,090
-
-
5,352
-
1,000
-
-
-
-
-
-
-
-
3,090
6,352
48,200
1,028,026
-
1,903
48,200
1,029,929
(51,290)
121,135
(3,090)
1,151,064
£ -
Transfers
Balance at
31 March 2023
£
£
977
-
-
-
-
1,250
814
436
-
-
-
-
-
2,227
1,250
38,147
1,046,163
-
1,903
38,147
1,048,066
(40,374)
52,826
(2,227)
1,100,892
£ -
31 March 2024
£ 1,157,416
£ 1,102,142

The transfers in the year represent unrestricted income being used to support restricted and designated projects or monies allocated by trustees for specific designated purposes. 15

MOWBRAY COMMUNITY CHURCH

(A company limited by guarantee)

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

11 FUNDS (continued)

Designated Funds

The Property Fund represents the net book value of the Church and integral fixtures and fittings, which are held to enable the Charitable Company to achieve its charitable objects, less loans against these assets.

Billboard Fund represents monies received for a advertising campaign in the local area.

Restricted Funds

The Missionary Partners fund represents monies donated by members to our Mission Partners

The Life Skills fund is monies received towards this particular ministry within Christians Against Poverty.

Youth Ministries Events represents income received for various youth events which took place during the year.

Community Outreach Events represents income received for various events and initiatives which included members from the wider community.

The Evangelism Trailer fund was money received for a trailer, which has been included in fixed assets and depreciated in the year.

Overseas Mission Aid represents monies for foreign appeals including Ukraine and Turkey.

Fellowship Fund represents gifts received for discretionary distribution to congregants facing severe hardship.

12 NET ASSETS BY FUND

NET ASSETS BY FUND
Current year
Tangible Fixed Assets
Current Assets
Current Liabilities
Longterm Liabilities
At 31 March 2024		 Undesignated
Funds
£
-
126,088
(4,953)
-
£ 121,135		 Designated
Funds
£
1,354,434
1,903
(21,600)
(304,808)
£ 1,029,929		 Restricted
Funds
£
1,000
5,352
-
-
£ 6,352		 Total
Funds
£
1,355,434
133,343
(26,553)
(304,808)
£ 1,157,416
Comparative year
Tangible Fixed Assets
Current Assets
Current Liabilities
Longterm Liabilities
At 31 March 2023		 Undesignated
Funds
£
-
58,041
(5,215)
-
£ 52,826		 Designated
Funds
£
1,388,425
1,903
(20,915)
(321,347)
£ 1,048,066		 Restricted
Funds
£
1,250
-
-
-
£ 1,250		 Total
Funds
£
1,389,675
59,944
(26,130)
(321,347)
£ 1,102,142

16

MOWBRAY COMMUNITY CHURCH

(A company limited by guarantee)

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

13
Net expenditure for the reporting period
Adjustments for:
Loan interest
Depreciation charges
Increase in trade and other debtors
Decrease in trade and other creditors
Net cash provided by operating activities
14
Cash in hand
Total cash and cash equivalents
15 ANALYSIS OF CHANGES IN NET DEBT
At the start
of year
Cash
33,943
Loans falling due within one year
(20,915)
Loans falling due after more than one year
(321,347)
£ (308,319)
ANALYSIS OF CASH AND CASH EQUIVALENTS
RECONCILIATION OF CASH FLOWS FROM OPERATING ACTIVITIES		 2024
£
55,274
28,346
38,241
(12,258)
(262)
£ 109,341
95,084
£ 95,084
Cash-flows
61,141
(685)
16,539
£ 76,995		 2023
£
(18,042)
19,702
37,841
(11,131)
(358)
£ 28,012
33,943
£ 33,943
At end
of year
95,084
(21,600)
(304,808)
£ (231,324)

17