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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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
## **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.
- 1) support the speaking, writing and teaching ministry of David Bennett.
- 2) develop theological resources and training materials.
- 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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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
## **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**
- Ezra Church, Romanian Language Church. Meets at Stampwell Farm.
- Discover Network. - Stampwell Farm
- Arocha
- 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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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 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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Docusign Envelope ID: 6BA17953-DB18-40E8-9D12-D796330598FC
## 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:
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.
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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Docusign Envelope ID: 6BA17953-DB18-40E8-9D12-D796330598FC
## 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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Docusign Envelope ID: 6BA17953-DB18-40E8-9D12-D796330598FC
## 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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Docusign Envelope ID: 6BA17953-DB18-40E8-9D12-D796330598FC
## 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
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (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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Docusign Envelope ID: 6BA17953-DB18-40E8-9D12-D796330598FC
## 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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Docusign Envelope ID: 6BA17953-DB18-40E8-9D12-D796330598FC
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.
Page 14
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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
|**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|
|---|---|---|---|
Page 15
continued...
Docusign Envelope ID: 6BA17953-DB18-40E8-9D12-D796330598FC
## 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|
Page 16
continued...
Docusign Envelope ID: 6BA17953-DB18-40E8-9D12-D796330598FC
## 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|
Page 17
continued...
Docusign Envelope ID: 6BA17953-DB18-40E8-9D12-D796330598FC
## 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|
Page 18
continued...
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**
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|
|---|---|---|---|---|
||||||
Page 19
continued...
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**
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|
|---|---|---|
Page 20
continued...
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**
Page 21
continued...
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**
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.
Page 22