Charity Number: 1137233 Company Number: 07250346
CITY HOPE CHURCH LONDON
UNAUDITED FINANCIAL STATEMENTS 31 MARCH 2024
Ben Leach Associates 30 Bute Street Sheffield S10 1UP
CITY HOPE CHURCH LONDON
COMPANY LIMITED BY GUARANTEE
TRUSTEES’ ANNUAL REPORT (INCORPORATING THE DIRECTOR’S REPORT)
YEAR ENDED 31 MARCH 2024
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's constitution, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
Objectives and Activities
Objectives
The charity's object is the advancement of the Christian faith in accordance with its Statement of Faith. The policies adopted in furtherance of this object are the running of a church in South London. We are a part of Catalyst, a network of churches aiming to make disciples in the nations of the world.
City Hope Church exists to love and serve God, our community and our world. As a diverse family of believers, empowered by the Holy Spirit, we want to share the great news of Jesus and orientate our lives around his teaching.
City Hope Church is a growing church community living and working in London. We have a rich heritage of serving local people and communities over many generations.
This report aims to clearly demonstrate the public benefit that City Hope Church continues to provide to South London and beyond and that the trustees have had regard to the Charity Commission's public benefit guidance.
Activities
We are a vibrant church with a vision to be a diverse and growing, Jesus centred community, bringing God's kingdom to South London and beyond. We currently host 2 Sunday services per week at our building in Bermondsey, with dedicated children’s work at the Sunday morning service. This is supported by our mid-week Connect Groups and other church events.
We also run a wide range of outreach and community action ministries. These include youth work, Debt Centre, Foodbank, Hope Tuesdays and our Fab Fridays pre-school group, as well as supporting several international missionaries.
Achievements and performance
During the year to 31st March 2024, the church undertook the following activities:
Sunday services
Our Sunday morning services have continued to be times of great joy and fellowship. They are open and accessible to everyone. Average weekly attendance was 216 during the year.
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CITY HOPE CHURCH LONDON
COMPANY LIMITED BY GUARANTEE
TRUSTEES’ ANNUAL REPORT (INCORPORATING THE DIRECTOR’S REPORT)
YEAR ENDED 31 MARCH 2024
Our standard format of service comprises worship, church news, prayer and teaching. We also regularly celebrate communion and have adult baptisms. We’ve continued to present a rounded teaching programme which has been delivered excellently by our preaching team together with several visiting speakers.
This year we started a regular programme of Sunday Evening Sessions. These focus on different aspects of Christian life on a monthly rotation: prayer, Bible School, worship and discipleship.
Children's groups
On Sundays we have three separate groups caring for our under 11s: City Toddlers (1-2 years old), City Minis (3-5 years old) and City Kids (6-11 years old).
These groups are run by our team of volunteers. We are committed to nurturing and safeguarding our children and young people. All our children's workers are required to undergo a Disclosure and Barring Service Check.
Connect Groups
As at 31st March 2024, we had 15 Connect Groups which meet regularly across South London. Connect Groups are where people can get to know other believers, make friends and do life together.
Church weekend away
In June 2023, we had our church weekend away at Otford Manor in Kent – our first for many years. This was an incredible time of building fellowship together as a church, coupled with biblical teaching and a range of fun activities for all ages.
Youth work
Our youth ministry is led by our full-time youth worker, Kwame Gelli, together with a committed team of volunteers.
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Sunday morning: On alternate Sunday mornings we gather around 20-30 young people from school year 7 to sixth form. We spend this time providing opportunity for teaching, mentoring and fun.
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Youth Friday evening: On alternate Friday evenings we gather around 40 young people from school years 7 to 13. We play games, socialise and study the Bible, reflection, and application.
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Youth trips: Throughout the year we have coordinated several trips to local attractions and events, including Shorn Wood Country Park, the beach, the women’s FA cup final at Wembley and the rugby semi-finals. A number of these trips were made possible through generous donations.
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School holiday programme: This is a programme, supported by Southwark Council, to provide holiday activities for young people in Southwark - mostly for those on the school feeding programme. We ran 16 days of provision during the year with activities including ice skating, bowling, sports games, trampolining and cooking lessons to encourage healthy eating.
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Events: We join with other local churches and faith organisations to jointly host a termly gospel night at the Salmon Youth Centre, Bermondsey. Typically 60 to 100 young people gather at this event for food, worship, teaching and networking.
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New Day: In August 2023 we took a group of 45 young people to the New Day Christian youth conference in Norfolk. This group included our local members as well as young people whose families are serving abroad.
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After school club, ‘Pitstop’: Throughout April 2023 to March 2024, we continued to run our after school provision catering for secondary aged students (called ‘Pitstop’), supported by Southwark
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CITY HOPE CHURCH LONDON
COMPANY LIMITED BY GUARANTEE
TRUSTEES’ ANNUAL REPORT (INCORPORATING THE DIRECTOR’S REPORT)
YEAR ENDED 31 MARCH 2024
Council. Pitstop runs one evening a week during term time and typically gathers between 15 and 30 young people.
CAP Debt Centre
Christians against Poverty (CAP) is an award-winning debt counselling charity with an extensive network of centres around the UK. City Hope Church is pleased to run the Southwark CAP Centre headed up by Steve Lee. We are passionate about lifting people out of debt and poverty. We also help people budget their money more effectively, so alongside the debt counselling we run the CAP Lifeskills course.
In the year, the debt team saw 44 new clients and had 13 clients achieve debt free status. At Christmas we distributed 60 food hampers.
Foodbank
Our Foodbank opens every Wednesday afternoon, run by a dedicated team of volunteers. It is part of a network of foodbanks across the borough of Southwark hosted by Pecan.
During the year, we helped an average of 32 households each week.
Hope Tuesdays
Every Tuesday afternoon we welcome anyone from the local community who wants to connect with others in a fun informal setting. Approximately 40 people share a light lunch together and take part in various activities, including quizzes, videos and presentations. At Christmas we distributed gifts to all clients.
Fab Fridays
Every Friday in term time, we host Fab Fridays for pre-school aged children and their parents/carers. This includes a free café and playgroup. Over the year we had an average of 38 attending each week.
Support of overseas missionaries
The church has continued to financially support several individuals who work overseas. These missionaries are engaged in work that advances the Christian faith, often alongside relieving or preventing poverty.
Plans for future periods
Looking ahead to the rest of 2024 and into 2025, the church will maintain its object of advancement of the Christian faith in accordance with its Statement of Faith. We will continue with our two Sunday meetings as our primary means of advancing the Christian faith, as well as the activities outlined above so that we have a positive impact on the communities of South London and beyond.
We also plan to further develop our small site in the Aylesbury Estate, Walworth. Several church members are moving to the area and plan to host fortnightly Sunday services in the area, alongside a series of events with the community there.
Later in 2024, we will be commissioning our new Leadership Team who will oversee the running of the church and its activities. This will comprise of the Elders and other key leaders in the church.
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CITY HOPE CHURCH LONDON
COMPANY LIMITED BY GUARANTEE
TRUSTEES’ ANNUAL REPORT (INCORPORATING THE DIRECTOR’S REPORT)
YEAR ENDED 31 MARCH 2024
Financial Review
Review of financial performance
The financial transactions of the church during the year and the financial position at the end of the year are summarised in the attached accounts. The trustees consider the financial position to be satisfactory.
The majority of donations received are from standing orders and bank transfers (£182,037, 2023: £187,768) and the gift aid tax refunds for the year totalled £41,965 (2023: £44,906). The trustees encourage regular giving by standing order as this provides a reliable figure for budgetary planning.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
Governing document
The charity is constituted as a Company limited by guarantee, incorporated on 11[th] May 2010. The charity is governed by articles of association adopted at the same date.
Trustees and Leadership
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
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Angela Lynch
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Joanna Peacock
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Dave Staunton
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Wellesley Watkins
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John Harris
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The trustees oversee the administrative matters of the church, delegating day-to-day and pastoral matters to the paid staff.
The day-to-day management of the charity is overseen by Rebecca Whittlesea, the Secretary.
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CITY HOPE CHURCH LONDON
COMPANY LIMITED BY GUARANTEE
TRUSTEES’ ANNUAL REPORT (INCORPORATING THE DIRECTOR’S REPORT)
YEAR ENDED 31 MARCH 2024
Reference and Administrative Details
Registered Charity Number 1137233 Company Number 07250346 Principal address Drummond Christian Centre 121 Drummond Road London SE16 2JY OX4 1AS Independent Examiner Ben Leach Associates 30 Bute Street Sheffield S10 1UP
24 November 2024
This report was approved by the Trustees on _________ and is signed on their behalf by:
David Staunton - Trustee
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CITY HOPE CHURCH LONDON
COMPANY LIMITED BY GUARANTEE
INDEPENDENT EXAMINER’S REPORT
YEAR ENDED 31 MARCH 2024
Independent Examiner's Report to the Trustees of City Hope Church London
I report to the trustees on my examination of the accounts of City Hope Church London for the year ended 31[st] March 2024.
Responsibilities and basis of report
As the charity’s trustees (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 financial statements of the charity are not required to be audited under Part 16 of the 2006 Act, I report in respect of my examination of the charity’s accounts carried out under section 145 of the Charities Act 2011 (‘the Act’) and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
Since your charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. I can 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 material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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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
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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.
Ben Leach ACA
30 Bute Street Sheffield S10 1UP
02/12/2024
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CITY HOPE CHURCH LONDON
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)
YEAR ENDED 31 MARCH 2024
| YEAR ENDED 31 MARCH 2024 | |
|---|---|
| Note Income from: Donations and legacies 4 Charitable activities 5 Investments 6 Total income Expenditure on: Charitable activities 7 Total expenditure Net gains/(losses) on investments Net income/(expenditure) Transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
2024 2023 Unrestricted Funds Restricted Funds Endowment Funds Total Funds Unrestricted Funds Restricted Funds Endowment Funds Total Funds £ £ £ £ £ £ £ £ 257,320 91,327 - 348,647 257,654 126,998 - 384,652 8,430 - - 8,430 12,231 - - 12,231 97,211 - - 97,211 88,378 - - 88,378 |
| 362,961 91,327 - 454,288 358,263 126,998 - 485,261 |
|
| 412,597 120,119 - 532,716 337,124 150,781 - 487,905 |
|
| 412,597 120,119 - 532,716 337,124 150,781 - 487,905 |
|
| 96,477 - - 96,477 (41,789) - - (41,789) |
|
| 46,841 (28,792) - 18,049 (20,650) (23,783) - (44,433) - - - - - - - - |
|
| 46,841 (28,792) - 18,049 (20,650) (23,783) - (44,433) |
|
| 1,751,798 49,421 666,000 2,467,219 1,772,448 73,204 666,000 2,511,652 |
|
| 1,798,639 20,629 666,000 2,485,268 1,751,798 49,421 666,000 2,467,219 |
The statement of financial activities includes all gains and losses recognized in the year. All income and expenditure derive from continuing activities
The notes on pages 9 to 18 form part of these financial statements.
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CITY HOPE CHURCH LONDON
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL POSITION
31 MARCH 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Fixed assets | ||||
| Tangible assets | 13 | 55,424 | 83,395 | |
| Investments | 14 | 2,093,866 | 1,994,616 | |
| 2,149,290 | 2,078,011 | |||
| Current assets | ||||
| Debtors | 15 | 7,556 | 11,853 | |
| Cash at bank and in hand | 334,275 | 382,596 | ||
| 341,831 | 394,449 | |||
| Creditors: amounts falling due within one year | 16 | 5,853 | (5,241) | |
| Net current assets | 335,978 | 389,208 | ||
| Total assets less current liabilities | 2,485,268 | 2,467,219 | ||
| Net assets | 2,485,268 | 2,467,219 | ||
| Funds of the charity | ||||
| Unrestricted funds | 1,798,639 | 1,751,798 | ||
| Restricted funds | 20,629 | 49,421 | ||
| Endowment funds | 666,000 | 666,000 | ||
| Total charity funds | 17 | 2,485,268 | 2,467,219 |
For the year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorized for issue on 24 November 2024 ____ and are signed on behalf of the board by:
David Staunton - Trustee
Wellesley Watkins - Trustee
Company registration number 07250346
The notes on pages 9 to 18 form part of these financial statements.
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CITY HOPE CHURCH LONDON
NOTES TO THE FINANCIAL STATEMENTS
31 MARCH 2024
1. General information
The charity is a public benefit entity and a charity registered in England and Wales. The address of the registered office is Drummond Christian Centre, 121 Drummond Road, London, SE16 2JY .
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the 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) (Charities SORP (FRS 102)).
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The are prepared in sterling, which is the functional currency of the charity.
Going Concern
The trustees consider that there are no material uncertainties around the charity’s ability to continue as a going concern.
Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
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CITY HOPE CHURCH LONDON
NOTES TO THE FINANCIAL STATEMENTS
31 MARCH 2024
Creditors
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.
Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently recognised at amortised cost using the effective interest method.
Pension costs
The company offers a defined contribution pension scheme for its employees. There are no further liabilities other than that already recognised in the SOFA.
Income tax
The charity is exempt for taxation on its income and gains where they are to be applied for charitable purposes.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future projects or commitments.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
The trustees have elected to present the restricted fund ‘Catalyst Hub’ separately on the face of the Statement of Financial Activities on the grounds of materiality.
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.
Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair
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CITY HOPE CHURCH LONDON
NOTES TO THE FINANCIAL STATEMENTS
31 MARCH 2024
value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
| Property improvements | - | 4% straight line |
|---|---|---|
| Fixtures and fittings | - | 10% straight line |
| Computer equipment | - | 25% straight line |
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
4. Income from donations and legacies
| Donations and gift aid Grants receivable |
Total 2024 Total 2023 £ £ 309,287 356,536 36,430 28,116 |
|---|---|
| 348,647 384,652 |
5. Income from charitable activities
| Sales of merchandise Room hire |
Total 2024 Total 2023 £ £ 400 - 8,030 12,231 |
|---|---|
| 8,430 12,231 |
6. Income from investments
| Rental income Dividend income Interest receivable |
Total 2024 Total 2023 £ £ 75,560 78,185 2,773 3,546 18,878 6,647 |
|---|---|
| 97,211 88,378 |
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CITY HOPE CHURCH LONDON
NOTES TO THE FINANCIAL STATEMENTS
31 MARCH 2024
7. Expenditure on charitable activities
| Note Staff costs 10 Core activities Grants paid 12 Support costs 8 |
Total 2024 Total 2023 £ £ 153,262 146,479 114,232 79,038 84,936 124,106 180,286 138,282 |
|---|---|
| 532,716 487,905 |
8. Analysis of support costs
| Staff costs Depreciation Premises costs Staff housing, training and recruitment Office and administration costs Governance costs ndependent examination fees Fees payable to the independent examiner for: Independent examination of the financial statements |
Total 2024 Total 2023 £ £ 47,111 43,723 32,867 34,363 79,338 40,851 8,926 7,002 10,844 10,543 1,200 1,800 |
|---|---|
| 180,286 138,282 |
|
| 2024 2023 £ £ 1,200 1,800 |
9. Independent examination fees
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CITY HOPE CHURCH LONDON
NOTES TO THE FINANCIAL STATEMENTS
31 MARCH 2024
10. Staff costs
Staff costs were as follows:
| Wages and salaries Social security costs Pension costs Other employment benefits o employee earned more than £60,000 during the year. Average head count |
Total 2024 Total 2023 £ £ 173,543 163,749 11,417 10,857 15,413 15,596 5,689 6,306 |
|---|---|
| 206,062 196,508 |
|
| 2024 No. 2023 No. 6 6 |
No employee earned more than £60,000 during the year.
11. Trustee remuneration
No trustees received any remuneration of reimbursement of expenses during the year.
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CITY HOPE CHURCH LONDON
NOTES TO THE FINANCIAL STATEMENTS
31 MARCH 2024
12. Grants paid
The charity made grants as follows:
| Catalyst Network Christians Against Poverty Other UK Christian Organisations Overseas Missionaries Other Individuals |
Total 2024 Total 2023 £ £ 2,730 1,800 7,582 9,265 1,140 - 66,125 102,984 7,359 10,057 |
|---|---|
| 84,936 124,106 |
Particulars regarding the overseas missionaries supported by the charity have been omitted to ensure the privacy and safety of those individuals and organisations supported.
13. Tangible fixed assets
| Cost At 1stApril 2023 Additions Disposals At 31stMarch 2024 Depreciation At 1stApril 2023 Charge for the year Eliminated on disposal At 31stMarch 2024 Net Book Value At 31stMarch 2024 At 31stMarch 2023 |
Property improvements Fixtures and Fittings Computer equipment Total £ £ £ £ 684,542 79,599 76,607 840,748 2,604 2,292 - 4,896 - - - - |
|---|---|
| 687,146 81,891 76,607 845,644 |
|
| (633,155) (57,112) (67,086) (757,353) (22,803) (3,935) (6,129) (32,867) - - - - |
|
| (655,958) (61,047) (73,215) (790,220) |
|
| 31,188 20,844 3,392 55,424 |
|
| 51,387 22,487 9,521 83,395 |
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CITY HOPE CHURCH LONDON
NOTES TO THE FINANCIAL STATEMENTS
31 MARCH 2024
14. Fixed asset investments
| Cost or valuation At 1stApril 2023 Additions Unrealised (losses)/gains Disposals At 31stMarch 2024 |
Quoted investments Investment properties Loans and receivables Total £ £ £ £ 130,369 1,535,300 328,947 1,994,616 2,773 - - 2,773 (8,355) 114,700 (9,868) 96,477 - - - - |
|---|---|
| 124,787 1,650,000 319,079 2,093,866 |
Investment properties are accounted for at fair value. The value of the properties is determined by the trustees with respect to current pricing information available for other comparable properties within the same area.
15. Debtors
| Gift aid receivable Prepayments and accrued income |
2024 2023 £ £ 3,269 4,944 4,287 6,909 |
|---|---|
| 7,556 11,853 |
16. Creditors: amounts falling due within one year
| Accruals and deferred income Other creditors |
2024 2023 £ £ 4,603 4,831 1,250 410 |
|---|---|
| 5,853 5,241 |
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CITY HOPE CHURCH LONDON
NOTES TO THE FINANCIAL STATEMENTS
31 MARCH 2024
17. Analysis of charitable funds
| Unrestricted funds General funds Restricted funds International Work Other Donations COVID Support Youth Worker Youth Work Ukrainian Relief Total funds |
At 1st April 2023 Income Expenditure Gains / (losses) At 31st March 2024 £ £ £ £ £ 1,751,798 362,961 (412,597) 96,477 1,798,639 24,331 30,539 (40,974) - 13,896 100 1,680 (1,680) - 100 14,325 10,500 (19,764) - 5,061 - 12,500 (12,500) - - - 25,930 (25,930) - - 10,665 10,178 (19,271) - 1,572 |
|---|---|
| 49,421 154,009 (232,432) - 20,629 |
|
| 2,467,219 454,288 (532,716) 96,477 2,485,268 |
| Unrestricted funds General funds Restricted funds International Work Other Donations COVID Support Youth Worker Ukrainian Relief Total funds |
At 1st April 2022 Income Expenditure Gains / (losses) At 31st March 2023 £ £ £ £ £ 1,772,448 358,263 (337,124) (41,789) 1,751,798 28,327 28,638 (32,634) - 24,331 - 965 (865) - 100 20,229 7,436 (13,340) - 14,325 - 28,116 (28,116) - - 24,648 61,843 (75,826) - 10,665 |
|---|---|
| 73,204 126,998 (150,781) - 49,421 |
|
| 277,106 543,845 (522,141) - 298,810 |
General funds: Funds which can be used at the discretion of the trustees to further the objectives of the charity.
International Work: Funds collected and distributed in support of international mission.
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CITY HOPE CHURCH LONDON
NOTES TO THE FINANCIAL STATEMENTS
31 MARCH 2024
Other Donations: Funds collected and distributed in support of particular needs identified within the church.
COVID Support: These funds were originally raised to support those struggling with the impact of COVID in the local community. Since the origination of this fund, the relief work has developed into a number of other outreach programmes, including a number of foodbank projects. This fund is now supported by a variety of funders.
Youth Worker: Funds raised toward the employment of a youth worker for the church.
Youth Work: Funds raised toward the ongoing youth work of the church.
Ukrainian Relief: Funds raised in support of Ukrainian families uprooted from their homes as a result of the ongoing conflict in the country.
18. Endowment funds
Endowment funds represent assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.
| Permanent endowments Freehold property fund |
Balance at 1 April 2023 Income Expenditure Balance at 31 March 2024 £ £ £ £ 666,000 - - 666,000 |
|---|---|
| 666,000 - - 666,000 |
The permanent endowment arose from the sale of a chapel and may be used in the provision of freehold property to be used in the furtherance of the church's objects. Any such property represents permanent endowment of the charity. The fund can be used in meeting the proper costs of administering the charity and of managing the assets after any other charity income has been used. After meeting those costs the fund must be used in furtherance of the objects of the charity.
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