Docusign Envelope ID: 6BA17953-DB18-40E8-9D12-D796330598FC
REGISTERED COMPANY NUMBER: 07299797 (England and Wales) REGISTERED CHARITY NUMBER: 1137570
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 29 December 2024
for
The Minster Fellowship
AC Accountancy Services (UK) Ltd 318 Chorley New Road Horwich Bolton Lancashire BL6 5PS
Docusign Envelope ID: 6BA17953-DB18-40E8-9D12-D796330598FC
The Minster Fellowship
Contents of the Financial Statements for the Year Ended 29 December 2024
| Page | |
|---|---|
| Report of the Trustees | 1 to 8 |
| Independent Examiner's Report | 9 |
| Statement of Financial Activities | 10 to 11 |
| Balance Sheet | 12 to 13 |
| Notes to the Financial Statements | 14 to 22 |
Docusign Envelope ID: 6BA17953-DB18-40E8-9D12-D796330598FC
The Minster Fellowship (Registered number: 07299797)
Report of the Trustees
for the Year Ended 29 December 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 29 December 2024. The trustees have adopted the provisions of 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 and aims
To advance the Christian faith for the benefit of the public in such parts of the UK and/or the world: through Christian Mission and evangelism, including through the establishment and operation of Christian ministries or churches; pastoral care and the promotion of theology, education and resources; and to prevent and relieve poverty and those in distress.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'public benefit: running a charity (PB2)
During the course of the year the charity met its primary objectives in providing the active advancement of the Christian Faith, through preaching, teaching as well as creating online resources and engagement. The provision of pastoral care was provided to several congregations in the UK, as well as through partners and projects in other parts of the world. Education was promoted through the giving of in person lectures by public theologians as well as substantial online content, including with social media and in the writing of theological resources. Poverty relief played an important part, providing care and living grants to mission partners and projects.
Fundraising for central operations was below expectations, but the individual projects received donations which allowed the work to grow significantly in impact, whilst developing pathways for future ministry and mission.
The Minster Fellowship is developing a unique approach to supporting itinerant ministries and mission initiatives, through strengthening the bond and support amongst the project leaders and partnerships.
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The Minster Fellowship (Registered number: 07299797)
Report of the Trustees
for the Year Ended 29 December 2024
OBJECTIVES AND ACTIVITIES
Review of Activities
The following are some of the highlighted activities of the charity during the calendar year, which sit alongside regular weekly provision, including regular services of Christian worship, and the support of ministers in itinerant and online provision.
The partnerships and projects that were initiated during and following the covid-19 era continue in most instances to thrive, though the amount of larger one-off community and worship events that were held at Stampwell Farm has reduced as the churches and ministries in the UK resume normal patterns of celebration and holidays. The Minster continues to be known as a set of ministries that have an affinity for outdoor and lightweight forms of worship and church set-up, especially through the use of farms, paddocks and tents.
The Sunday Morning Chapel for the core team and project leaders, also usually attended by a Trustee, met 48 times online during the year. The format of this group, which has continued without ceasing since September 2021 is about 75 minutes of prayer, updates, reflections with a short homily by Frog. It has been a vital support to itinerant preachers, missionaries and evangelists.
The Thursday global network group/chapter also continued throughout the year, networking new and emerging partnerships with a weekly call, and this brought support to itinerant musicians, video creators, directors of retreat centres, and other forms of ministry including pastors and vicars.
The Rector took several itinerant speaking invitations on Sundays and weekends throughout 2023, as well as summer festivals, and welcomed guests and visitors to the farm for days of training in mission and theology, as well as developing a work with Missional Labs - an international mission venture accelerator.
Project Updates
David Bennett Project
This project was launched in September 2021, to support three main areas of activity.
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1) support the speaking, writing and teaching ministry of David Bennett.
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2) develop theological resources and training materials.
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3) the provide a national context for creative arts and worship events quarterly, at Stampwell Farm.
David completed his doctoral studies and was appointed to the Faculty of Theology at Oxford University, and took up Postdoctoral Research Fellow at Oxford University; Associate Research Fellow, Wycliffe Hall, and Theologian in Residence at Reality San Francisco Church.
David was much in demand all over the world, speaking especially in the areas of ethics and human sexuality, and was part of the Church of England consultation on Living and Love and Faith, advising the House of Bishops on policy and theology. He also spoke throughout the year in the UK and around the world, including USA, Switzerland and Germany. David's online ministry has included live and online events, many of which have had over 50,000 views.
All aspects of this project expanded during the year. We are able to provide hospitality and accommodation for visiting scholars, theologians and pastors, by having an Oxford base for this ministry in Norham Gardens, and this has greatly strengthened the partnership with Reality Church, San Francisco.
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The Minster Fellowship (Registered number: 07299797)
Report of the Trustees
for the Year Ended 29 December 2024
OBJECTIVES AND ACTIVITIES
The Well met at the farm twice during the year, and was greatly appreciated, generating opportunities for worship, creativity, poetry and liturgy within a conducive environment at Stampwell Farm. The leadership team of the Well hosted a very successful week of worship and prayer at Creation Fest in Cornwall, with thousands in attendance at our venue during the week.
Amy Orr-Ewing Project
The Project Supports the public theology, ministry and advocacy work of Amy Orr-Ewing, especially allowing her to take invitations which are pro bono, or where the honorariums and travel expenses do not cover the costs of the ministry. It assists providing administration, media and online support and other one off events.
In June 2023 Amy spoke at the Parliamentary Prayer Breakfast in London. The gathering took place in the hall where her late Majesty Queen Elizabeth II lay in state, and there were nearly 700 in attendance including 180 Members of Parliament (MPs) and some 100 Lords, and Ambassadors to the UK from around the world. She spoke on The Power of Forgiveness in Public life and the message was the most viewed sermon of the prayer breakfast since it was put online. As a result of the message she was invited to give the message at the Prayer Breakfasts in Northern Ireland and Scotland in 2024. She also spoke at ARC the Alliance for Responsible citizenship for Jordan Peterson and Baroness Philippa Stroud, and to make the case for the Christian faith at the conference 30th October-1st November. She received a message from the organising committee saying: "The huge volume of positive feedback we have received from our delegates highlighted the impact of your thoughtfulness, your meaningful message and your excellent delivery. Your insights and expertise added immeasurable value to the event, making it a truly extraordinary experience for all attendees. Your passion and ability to communicate complex ideas in a clear and engaging manner were evident
throughout your presentation, leaving a lasting impression on everyone fortunate enough to be in attendance as well as online."
In June she was awarded a medal from the Archbishop of Canterbury at Lambeth Palace. The citation is: For exceptional dedication, skill and insight in advocating for the good news of Jesus Christ and unflinching commitment that the church embodies the truth and grace of which it speaks."
Amy launched her book, Mary's Voice, which sold out in the USA and UK, and in association with that, was hosted at the US Senate in October hosted by Chaplain Black is an Advent book recentring the perspective of the Christian Faith's most significant female witness. Her book 'Where is God in All the Suffering?' was runner up for the prestigious award called The Michael Ramsey Prize and this was accompanied by an award ceremony in Lambeth Palace.
Amy's Itinerant ministry in the USA involved speaking 16 times on three trips in the earlier part of the year, and her schedule throughout the year was demanding and fruitful. The project support for administration has been invaluable, and also allows her to spend time in study for numerous writing projects and preparation for public theology events.
Latimer Minster Ascot :supports the ministry of Rev Dr Tim Norman. Online and in-person Alpha courses in partnership with other local churches in Ascot continued to be fruitful, and this ministry was supported through a dedicated grant, and Tim preaches when invited in other churches in the area, such as Virginia Water.
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The Minster Fellowship (Registered number: 07299797)
Report of the Trustees
for the Year Ended 29 December 2024
OBJECTIVES AND ACTIVITIES
African Partnerships: The two main ministries supported during this year within the fellowship was the work of Rev Canon Hassan John and Rev Raymond Bukenya. Hassan was seconded to the Minster Fellowship in the UK by the Archbishop of Nigeria since 2022, and continues to work for the persecuted church in throughout Africa, providing poverty relief through fundraising and partnership with other charities, as well as advocacy work in the areas of Persecution awareness in the West. Raymond Bukenya provides practical and pastoral support in Uganda to a group of refugees whose rescue the Minster facilitated from Nigeria, as well as his ministry as a theologian and apologist through 'Tangazo' a local Ugandan charity.
Anglican Communion
The Rector continued to serve the wider Church through theological education, itinerant speaking, consultation for Anglican evangelism initiatives, and moved his PTO from Oxford to London. Throughout the year, he ended his role at Winchester Cathedral and University and then held a role as the Executive Director of Anglican Leadership Institute during the year which supported the Global South Churches with leadership development and conferences and training, there were two main teaching events held for the global church during the year, one in Marthas Vineyard, and the other in Egypt.
The Online initiatives of Latimer Minster livestream services no longer continue, The online presence of two of our major projects has grown considerably - Dr Amy Orr-Ewing ( from 51 to 65.4k followers on instagram, 8.2k to 10k Fbk) and Dr David Bennett (11.7k to 21k instagram) (www.dacbennett.com) Rev Dr Frog (9k on instagram and X) are contributing widely to podcasts, and social media engagement.
Church Experiment : The Church Experiment started as a new worshipping and missional community in 2020, in Willingham, Long Stanton and Northstowe, to the northwest of Cambridge. Support for this project has also grown allowing Hannah and Jim Overton to give time to serve this new initiative which developed into a full congregation. https://www.churchexperiment.org.uk/about The Church Experiment became an independent charity, during the year, moving from a direct project to a mature partnership.
Partnerships
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Ezra Church, Romanian Language Church. Meets at Stampwell Farm.
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Discover Network. - Stampwell Farm
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Arocha
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Missional Labs
Missional Labs ran a global accelerator for mission initiatives, raising up 10-12 new ventures and coaching them. Frog was the senior theological advisor for this ministry, developing curricula for mission and interacting with several churches to enable missionary entrepreneurship to flourish. A partnership is a dynamic working relationship with a legally distinct other ministry, community or church, which, though not being financially supported by the Minster Fellowship, nevertheless represent a meaningful and ongoing collaboration.
Memorandums of Understanding exist with these two churches and the Minster Fellowship: Chalfont St Peter Parish Church - local partnership in South Buckinghamshire, and the Anglican parish where Applebarn and Stampwell farm are situated.
Reality Church, San Francisco - partnership designed to facilitate the 'theologian in residence' role and ministry of Dr David Bennett.
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Docusign Envelope ID: 6BA17953-DB18-40E8-9D12-D796330598FC
The Minster Fellowship (Registered number: 07299797)
Report of the Trustees
for the Year Ended 29 December 2024
FINANCIAL REVIEW Financial review
Summary
The charity experienced challenging financial circumstances during the year ended 29 December 2024. Income decreased by 17% to £163,024 (2023: £197,526), while expenditure decreased by 10% to £186,680 (2023: £206,720), resulting in a net deficit of £23,656 (2023: deficit £9,194), representing a worsening of 157%.
Income
Total incoming resources decreased to £163,024, comprising donations and legacies of £162,715 (2023: £197,219) and investment income of £309 (2023: £307). The decrease in donation income of 17% reflects the challenging fundraising environment for unrestricted central operations, though individual designated projects continued to receive committed donor support.
Within donations, cash donations fell to £133,873 (2023: £163,308), representing an 18% decrease, while Gift Aid recovered was £4,542 (2023: £9,311), a reduction of 51%. The charity continued to benefit from donated services and facilities valued at £24,000 (2023: £24,000), representing the use of Stampwell Farm premises for ministry activities provided without charge by related parties.
Expenditure
Total resources expended decreased by 10% to £186,680 (2023: £206,720). The principal areas of expenditure were:
-Houses for Duty and Clergy accommodation: £51,192 (2023: £49,532), representing 27% of total expenditure -Stampwell Farm Advisory costs: £32,196 (2023: £30,098), comprising professional services provided by the related party
-General running costs: £51,437 (2023: £53,923), a reduction of 5%
-Ministry costs and expenses: £26,576 (2023: £7,561), an increase reflecting expanded project activities -Accountancy, bookkeeping and examination: £11,856 (2023: £17,250), a reduction of 31% following the change of Independent Examiner
-Mission support: £8,588 (2023: £5,214)
Fixed Assets
The charity holds tangible fixed assets with a net book value of £1,063 (2023: £1,594), comprising computer equipment. Depreciation charged for the year was £531 (2023: £797).
Current Assets
Current assets totalled £33,524 (2023: £55,480), represented entirely by cash at bank and in hand (2023: cash £48,708 plus prepayments and accrued income £6,772). The decrease of £21,956 reflects the year's deficit of £23,656 and changes in working capital.
Liabilities
Current liabilities increased to £27,738 (2023: £26,569), comprising:
Bank overdraft: £502 (2023: £502) Trade creditors: £8,272 (2023: £10,103) Social security and other taxes: £7,541 (2023: £7,541) VAT: £57 (2023: £57) Accruals and deferred income: £11,190 (2023: £8,190) Other creditors: £176 (2023: £176)
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The Minster Fellowship (Registered number: 07299797)
Report of the Trustees
for the Year Ended 29 December 2024
The overall liability position remains relatively stable, though accruals increased by £3,000, reflecting timing differences in expenditure recognition.
Net Assets and Funds
Net assets at 29 December 2024 amount to £6,849 (2023: £30,505), representing a decrease of 78%. This substantial decrease reflects the challenging year for unrestricted fundraising combined with the general fund deficit.
The funds comprise:
Unrestricted funds totalling £6,473 (2023: £25,046):
General fund deficit of £(22,734) (2023: surplus £809) - a movement of £(23,543) AOE Project designated fund: £28,739 (2023: £24,237) - increased by £4,502 Latimer Minster Ascot designated fund: £468 (2023: £nil)
Restricted funds of £376 (2023: £5,459) representing the Church Experiment project, which experienced a deficit of £5,083 during the year.
The general fund deficit of £22,734 represents a significant concern, reflecting the structural imbalance between unrestricted income and core operating costs. However, this is partially mitigated by the strong performance of the AOE Project designated fund, which grew by 19% during the year, and the establishment of the Latimer Minster Ascot fund.
Principal funding sources
Through the year, the donor-directed and grant-making and grant-receiving frameworks encouraged project-based giving, with unrestricted funds and Gift Aid contributing to centralised costs. Private individuals and some charitable trusts are supporting individual projects.
Reserves policy
The trustees have established a reserves policy whereby free reserves should be maintained at sufficient levels to sustain operations during short-term funding fluctuations or meet unforeseen costs. Free reserves, represented by the general unrestricted fund, stood at £(22,734) at 29 December 2024 (2023: £809). The trustees acknowledge this is significantly below target and represents a priority for remedial action. The trustees are implementing measures to rebuild reserves, including restricting growth in central costs, prioritizing unrestricted fundraising, and considering the appropriate allocation of designated fund surpluses to support core operations where permitted by donor intent.
Principal Risks and Uncertainties
The trustees continue to monitor key risks facing the charity:
Over-dependency on project-based designated giving with insufficient unrestricted income for core operations
The structural deficit in the general fund requiring urgent attention Security of digital infrastructure and online resources Reliance on key personnel and relationships
Steps are being taken to mitigate these risks through diversification of income sources, development of a comprehensive unrestricted fundraising strategy, enhanced digital security measures, and succession planning for key roles.
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The Minster Fellowship (Registered number: 07299797)
Report of the Trustees
for the Year Ended 29 December 2024
FINANCIAL REVIEW
Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Whilst the general fund shows a deficit position requiring attention, the charity maintains positive cash reserves of £33,524 and the designated funds remain healthy with combined balances of £29,207. The trustees have developed plans to restore the general fund to a surplus position through enhanced unrestricted fundraising initiatives, careful cost management, and a strategic review of the charity's funding model. For these reasons, the trustees continue to adopt the going concern basis in preparing the financial statements.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Organisational structure
The policy and operating decisions of the charity rest with the Directors who meet regularly to monitor the activities of the Company.
Decision making
The trustees met throughout the year, with online meetings, as well as asynchronous decision making through emails and zooms. Each major project (David Bennett, Amy Orr-Ewing, Rector, Church Experiment) has an assigned trustee who regularly checks the wellbeing of the project leader and the details of each project.
Beyond the trustee meetings, several trustees undertook in-person visits during the year, as well as weekly phone calls and discussions online concerning activities, challenges and ministries.
Induction and training of new trustees
Trustee Training is in place and will be continually assessed.
Related parties
Rev Dr and Dr Amy Orr-Ewing are landlords of Stampwell Farm and Directors of Stampwell Farm Ltd.
All events and activities of Latimer Minster at Stampwell Farm are hosted without payment of costs, contributions or rent, meaning that Stampwell Farm makes a substantive donation in kind each year to the Minster Fellowship.The benefit has been calculated at the expected value of the use of the land which is the equivalent value to other bookings and uses by other tenants of £24,000 (2023 - £24,000). Rev Dr and Dr Amy Orr-Ewing do not derive any overall personal benefit from the Stampwell Farm transactions.
Rev Dr and Dr Amy Orr-Ewing are Directors of Stampwell Advisory Ltd.
The charity sub-contract labour to Stampwell Advisory Ltd during the year of £32,192 (2023 - £30,098).
Dr Amy Orr-Ewing is resident at the Rectory.
Rev Dr and Dr Amy Orr-Ewing provided monthly donations to the charity totalling £5,600 (2023 - £6,350). The charity incurred expenses relating to the rectory of £30,371(£2023 - £37,797).
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The Minster Fellowship (Registered number: 07299797)
Report of the Trustees
for the Year Ended 29 December 2024
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
07299797 (England and Wales)
Registered Charity number
1137570
Registered office
Applebarn Bull Lane Gerrards Cross Buckinghamshire SL9 8RH
Trustees
Mr I A Burman Director Ms C Collington Director Ms. M E Goddard Director Mr I Marlow Director The Hon. S J R Mclardy Director
Company Secretary
Independent Examiner
Aaron Hunter-Cooke FMAAT AC Accountancy Services (UK) Ltd 318 Chorley New Road Horwich Bolton Lancashire BL6 5PS
Approved by order of the board of trustees on 28 January 2026 and signed on its behalf by:
Mr I A Burman - Trustee
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Independent Examiner's Report to the Trustees of
The Minster Fellowship
Independent examiner's report to the trustees of The Minster Fellowship ('the Company') I report to the charity trustees on my examination of the accounts of the Company for the year ended 29 December 2024.
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
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:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 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.
Aaron Hunter-Cooke FMAAT The Association of Accounting Technicians
AC Accountancy Services (UK) Ltd 318 Chorley New Road Horwich Bolton Lancashire BL6 5PS
28 January 2026
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The Minster Fellowship
Statement of Financial Activities for the Year Ended 29 December 2024
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 158,069 Investment income 3 309 Total 158,378 EXPENDITURE ON Charitable activities 4 Rector stipend and pension - Houses for Duty and Clergy accommodation 51,192 Ministry costs and expenses 26,576 Salaries and labour costs - Church events and activities 1,598 Donations and miscellaneous 906 Mission support 659 General running costs 51,437 Stampwell Farm Advisory costs 32,196 Accountancy, bookkeeping, payroll and examination 11,856 Depreciation 531 Total 176,951 NET INCOME/(EXPENDITURE) (18,573) RECONCILIATION OF FUNDS Total funds brought forward 25,046 |
Restricted fund £ 4,646 - 4,646 - - - - - 1,800 7,929 - - - - 9,729 (5,083) 5,459 |
Designated Funds £ - - - - - - - - - - - - - - - - - |
29.12.24 Total funds £ 162,715 309 163,024 - 51,192 26,576 - 1,598 2,706 8,588 51,437 32,196 11,856 531 186,680 (23,656) 30,505 |
29.12.23 Total funds £ 197,219 307 197,526 1,000 49,532 7,561 25,091 4,504 11,750 5,214 53,923 30,098 17,250 797 206,720 (9,194) 39,699 |
|---|---|---|---|---|
The notes form part of these financial statements
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The Minster Fellowship
Statement of Financial Activities for the Year Ended 29 December 2024
| Unrestricted funds Notes £ TOTAL FUNDS CARRIED FORWARD 6,473 |
Restricted fund £ 376 |
Designated Funds £ - |
29.12.24 Total funds £ 6,849 |
29.12.23 Total funds £ |
|---|---|---|---|---|
| 30,505 |
The notes form part of these financial statements
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The Minster Fellowship (Registered number: 07299797)
Balance Sheet 29 December 2024
| 29.12.24 | 29.12.23 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Designated | Total | Total | |||
| funds | fund | Funds | funds | funds | |||
| Notes | £ | £ | £ | £ | £ | ||
| FIXED ASSETS | |||||||
| Tangible assets | 9 | 1,063 | - | - | 1,063 | 1,594 | |
| CURRENT ASSETS | |||||||
| Prepayments and accrued | |||||||
| income | - | - | - | - | 6,772 | ||
| Cash at bank and in hand | 33,148 | 376 | - | 33,524 | 48,708 | ||
| 33,148 | 376 | - | 33,524 | 55,480 | |||
| CREDITORS | |||||||
| Amounts falling due within | |||||||
| one year | 10 | (27,738) | - | - | (27,738) | (26,569) | |
| NET CURRENT ASSETS | 5,410 | 376 | - | 5,786 | 28,911 | ||
| TOTAL ASSETS LESS | |||||||
| CURRENT LIABILITIES | 6,473 | 376 | - | 6,849 | 30,505 | ||
| NET ASSETS | 6,473 | 376 | - | 6,849 | 30,505 | ||
| FUNDS | 13 | ||||||
| Unrestricted funds | 6,473 | 25,046 | |||||
| Restricted funds: | |||||||
| Church Experiment | 376 | 5,459 | |||||
| TOTAL FUNDS | 6,849 | 30,505 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 December 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 29 December 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
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The Minster Fellowship (Registered number: 07299797)
Balance Sheet - continued 29 December 2024
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 28 January 2026 and were signed on its behalf by:
Mr I A Burman - Trustee
Mr I Marlow - Trustee
The notes form part of these financial statements
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The Minster Fellowship
Notes to the Financial Statements for the Year Ended 29 December 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on reducing balance
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
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The Minster Fellowship
Notes to the Financial Statements - continued for the Year Ended 29 December 2024
| 2. DONATIONS AND LEGACIES Donations Gift aid Grants Donated services and facilities Grants received, included in the above, are as follows: Other grants 3. INVESTMENT INCOME Deposit account interest 4. CHARITABLE ACTIVITIES COSTS Direct Costs £ Houses for Duty and Clergy accommodation 46,900 Ministry costs and expenses 26,576 Church events and activities 1,500 Donations and miscellaneous - Mission support - General running costs - Stampwell Farm Advisory costs - Accountancy, bookkeeping, payroll and examination - Depreciation - 74,976 |
Grant funding of activities £ - - 98 2,706 8,588 - - - - 11,392 |
29.12.24 £ 133,873 4,542 300 24,000 162,715 29.12.24 £ 300 29.12.24 £ 309 Support costs £ 4,292 - - - - 51,437 32,196 11,856 531 100,312 |
29.12.23 £ 163,308 9,311 600 24,000 197,219 29.12.23 £ 600 29.12.23 £ 307 Totals £ 51,192 26,576 1,598 2,706 8,588 51,437 32,196 11,856 531 186,680 |
|---|---|---|---|
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The Minster Fellowship
Notes to the Financial Statements - continued for the Year Ended 29 December 2024
5. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 29.12.24 | 29.12.23 | |
|---|---|---|
| £ | £ | |
| Independent Examination Fee | 3,000 | 8,190 |
| Depreciation - owned assets | 531 | 797 |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 29 December 2024 nor for the year ended 29 December 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 29 December 2024 nor for the year ended 29 December 2023.
7. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 29.12.24 | 29.12.23 | |||||
|---|---|---|---|---|---|---|
| Clergy | 1 | 1 | ||||
| No employees received emoluments in | excess of £60,000. | |||||
| 8. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | |||||
| Unrestricted | Restricted | Designated | Total | |||
| funds | fund | Funds | funds | |||
| £ | £ | £ | £ | |||
| INCOME AND ENDOWMENTS FROM | ||||||
| Donations and legacies | 182,886 | 14,333 | - | 197,219 | ||
| Investment income | 285 | 22 | - | 307 | ||
| Total | 183,171 | 14,355 | - | 197,526 | ||
| EXPENDITURE ON | ||||||
| Charitable activities | ||||||
| Rector stipend and pension | 1,000 | - | - | 1,000 | ||
| Houses for Duty and Clergy | ||||||
| accommodation | 49,532 | - | - | 49,532 | ||
| Ministry costs and expenses | 7,561 | - | - | 7,561 | ||
| Salaries and labour costs | 25,091 | - | - | 25,091 | ||
| Church events and activities | ||||||
| 3,504 | 1,000 | - | 4,504 | |||
| Donations and miscellaneous | 3,150 | 8,600 | - | 11,750 |
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The Minster Fellowship
Notes to the Financial Statements - continued for the Year Ended 29 December 2024
| 8. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Designated | Total | |||
| funds | fund | Funds | funds | |||
| £ | £ | £ | £ | |||
| Mission support | 3,214 | 2,000 | - | 5,214 | ||
| General running costs | 53,923 | - | - | 53,923 | ||
| Stampwell Farm Advisory costs | 30,098 | - | - | 30,098 | ||
| Accountancy, bookkeeping, payroll | ||||||
| and examination | 17,250 | - | - | 17,250 | ||
| Depreciation | 797 | - | - | 797 | ||
| Total | 195,120 | 11,600 | - | 206,720 | ||
| NET INCOME/(EXPENDITURE) | (11,949) | 2,755 | - | (9,194) | ||
| RECONCILIATION OF FUNDS | ||||||
| Total funds brought forward | 36,995 | 2,704 | - | 39,699 | ||
| TOTAL FUNDS CARRIED | ||||||
| FORWARD | 25,046 | 5,459 | - | 30,505 | ||
| 9. | TANGIBLE FIXED ASSETS | |||||
| Fixtures | ||||||
| and | Computer | |||||
| fittings | equipment | Totals | ||||
| £ | £ | £ | ||||
| COST | ||||||
| At 30 December 2023 and | ||||||
| 29 December 2024 | 446 | 2,391 | 2,837 | |||
| DEPRECIATION | ||||||
| At 30 December 2023 | 446 | 797 | 1,243 | |||
| Charge for year | - | 531 | 531 | |||
| At 29 December 2024 | 446 | 1,328 | 1,774 | |||
| NET BOOK VALUE | ||||||
| At 29 December 2024 | - | 1,063 | 1,063 | |||
| At 29 December 2023 | - | 1,594 | 1,594 |
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The Minster Fellowship
Notes to the Financial Statements - continued for the Year Ended 29 December 2024
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 29.12.24 | 29.12.23 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Bank loans and overdrafts (see note 11) | 502 | 502 | |||
| Trade creditors | 8,272 | 10,103 | |||
| Social security and other taxes | 7,541 | 7,541 | |||
| VAT | 57 | 57 | |||
| Accruals and deferred income | 11,190 | 8,190 | |||
| Other Creditors | 176 | 176 | |||
| 27,738 | 26,569 | ||||
| 11. | LOANS | ||||
| An analysis of the maturity of loans is given below: | |||||
| 29.12.24 | 29.12.23 | ||||
| £ | £ | ||||
| Amounts falling due within one year on demand: | |||||
| Bank overdrafts | 502 | 502 | |||
| 12. | LEASING AGREEMENTS | ||||
| Minimum lease payments under non-cancellable operating leases fall due as follows: | |||||
| 29.12.24 | 29.12.23 | ||||
| £ | £ | ||||
| Within one year | 16,839 | 16,839 | |||
| 13. | MOVEMENT IN FUNDS | ||||
| Net | |||||
| At | movement | At | |||
| 30.12.23 | in funds | 29.12.24 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 809 | (23,543) | (22,734) | ||
| AOE Project | 24,237 | 4,502 | 28,739 | ||
| Latimer Minster Ascot | - | 468 | 468 | ||
| 25,046 | (18,573) | 6,473 | |||
| Restricted funds | |||||
| Church Experiment | 5,459 | (5,083) | 376 | ||
| TOTAL FUNDS | 30,505 | (23,656) | 6,849 |
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The Minster Fellowship
Notes to the Financial Statements - continued for the Year Ended 29 December 2024
13. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund AOE Project Latimer Minster Ascot Restricted funds Church Experiment TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund AOE Project Latimer Minster Ascot Restricted funds Church Experiment TOTAL FUNDS |
At 30.12.22 £ 2,627 29,181 5,187 36,995 2,704 39,699 |
Incoming resources £ 78,698 54,109 25,571 158,378 4,646 163,024 Net movement in funds £ 4,002 (3,350) (12,601) (11,949) 2,755 (9,194) |
Resources expended £ (102,241) (49,607) (25,103) (176,951) (9,729) (186,680) Transfers between funds £ (5,820) (1,594) 7,414 - - - |
Movement in funds £ (23,543) 4,502 468 (18,573) (5,083) (23,656) At 29.12.23 £ 809 24,237 - 25,046 5,459 30,505 |
|---|---|---|---|---|
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The Minster Fellowship
Notes to the Financial Statements - continued for the Year Ended 29 December 2024
13. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund AOE Project Latimer Minster Ascot Restricted funds Church Experiment TOTAL FUNDS |
Incoming resources £ 134,936 25,779 22,456 183,171 14,355 197,526 |
Resources expended £ (130,934) (29,129) (35,057) (195,120) (11,600) (206,720) |
Movement in funds £ 4,002 (3,350) (12,601) (11,949) 2,755 (9,194) |
|---|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund AOE Project Latimer Minster Ascot Restricted funds Church Experiment TOTAL FUNDS |
Net At movement 30.12.22 in funds £ £ 2,627 (19,541) 29,181 1,152 5,187 (12,133) 36,995 (30,522) 2,704 (2,328) 39,699 (32,850) |
Transfers between At funds 29.12.24 £ £ (5,820) (22,734) (1,594) 28,739 7,414 468 - 6,473 - 376 - 6,849 |
|---|---|---|
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Docusign Envelope ID: 6BA17953-DB18-40E8-9D12-D796330598FC
The Minster Fellowship
Notes to the Financial Statements - continued for the Year Ended 29 December 2024
13. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund AOE Project Latimer Minster Ascot Restricted funds Church Experiment TOTAL FUNDS |
Incoming resources £ 213,634 79,888 48,027 341,549 19,001 360,550 |
Resources expended £ (233,175) (78,736) (60,160) (372,071) (21,329) (393,400) |
Movement in funds £ (19,541) 1,152 (12,133) (30,522) (2,328) (32,850) |
|---|---|---|---|
UNRESTRICTED FUNDS
General fund
The general fund represents the free reserves of the charity which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
DESIGNATED FUNDS
AOE Project
This designated fund has been established to support the public theology, ministry and advocacy work of Dr Amy Orr-Ewing. The fund enables the charity to provide administration, media support and online resources for Dr Orr-Ewing's speaking and writing ministry, particularly allowing her to accept invitations where honorariums and travel expenses do not cover the full cost of ministry. The fund supports her work in theological education, public speaking on ethics and Christian apologetics, and the development of online theological resources.
Latimer Minster Ascot
This designated fund supports the ministry of Rev Dr Tim Norman in Ascot and the surrounding area. The fund provides for online and in-person Alpha courses conducted in partnership with local churches in Ascot, and supports Rev Dr Norman's preaching ministry when invited to other churches in the region, including Virginia Water. The fund enables the expansion of evangelistic and teaching ministry in the local area.
Church Experiment
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The Minster Fellowship
Notes to the Financial Statements - continued for the Year Ended 29 December 2024
13. MOVEMENT IN FUNDS - continued
This restricted fund was established to support The Church Experiment, a new worshipping and missional community that started in 2020 in Willingham, Long Stanton and Northstowe, to the northwest of Cambridge. During the year, The Church Experiment developed into a full congregation and became an independent registered charity (registered charity number 1210320). The charity's support for this project has transitioned from direct project funding to a mature partnership relationship. The remaining balance of £376 represents final grant commitments to the newly independent Church Experiment charity to support their ongoing ministry and operations.
14. RELATED PARTY DISCLOSURES
Details of related party transactions are disclosed in the Trustees' Report on page 7.
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