REGISTERED COMPANY NUMBER: 07260215 IEn9land and Wales) REGISTERED CHARITY NUMBER: 1138459 REPORT OF THE TRUSTEES AND CONSOLIDATED FIIIANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 FOR SOULCHURCH LTD Sèxty & Co Chartered Ceitified Accountarhts & stafvtory Auditor 124 Thorpè Road Norwich Norfolk NR11RS
SOUL CHURCH L7D CONTENTS OF THE FINANCIAL STATEMENTS fi>r tho year end•d 31 Mah 2025 Pao• R•port otth• Trust••s statsm•nt of Tru$tso$' Re$pon•lbllle$ R•port of Ind•pndent Auditors 10 to 12 Con•oldated Statement of Flnan¢lal Aetlvltl•s 13 Balaneè Shèet 14 Con8oldated Balance sheet 15 Con8oldat•d ¢h Flow Statement 16 Notes to the Consolldated Cah Flow Statwnent 17 Not to the Flnan¢lal Statements 18 to 28
8OULCHURCH LTD REPORT OF THE TRUSTEES for tho y•ar gnd•d 31 March 2025 The Trust889 who arè 81so dirartors of the charity frjr the purpos9$ oflhe Companles kl 2006, presgnt Ihalr reportwith the financial statements ol the eharity frjr the ygar ended 31 March 2025. Thè financAO1 atem$nts have been prepared in acLordance with th• aceounting policies 8•t out and comply with.. Thè Companies Acl 2006 The Chanties Acl 2011 The Charities IAcco(Jnts and Reports) R8gulations 2008 The Provisions ofthe Charty's govemin9 documenl Acrnunting and Reporting by Charities.. Statement ol Practicg applirablg to tharilies preparing their accUnts in aceordan¢e wth FRS 102 leffectNe 1 January 20191 Ml981on Statgmgnt Our mission 1$ simpJe."'Lo¥e in Action,. Our Valu• To be'Christ-Center8d, Peopte EmpDw&ing, ouArd Ftrtusèd, Llfo Givtng- outwclked vthh a of excdlence in all w8 éo.. Wo Ar• Based in NOrWh, Norfolk, forover 80 year5, SOUL Church Iforrnerly Norwrh Famity Life Church) serves supptsrts more than 3,500 people each week through a diverse range ol church services and MMUnty projects. We are committ•d to MIng practiral, ernotional and spiritual n88ds through initialivas suc* a early Yoarn Car•: Our ofsted-approved nursery provldgs high-qU8ltty chlld¢8re and educalkx 1105 children enrolgd at yèar ond) and wg 3upport a ftjrther c.250 ¢hil¢knn each week through Sunday services aThY parent- an¢>child sesgons. Sp8cial Educatlol N•ed¥ & Dl8abllltle8 {SEND} Support: provide talled asBiStance for Children, young people and their families. During thè y8at Wa inve3ted in our SEND Spa and 8xtendad ourcare to adutts as wo11 as childrén young peopb. Youth & Young Adult Programm. Actiwties thal inspire, equip and empower the nexl gengr81ion. This yoarwt dwdoped an after-school dub to SUPPQrt loGal h0O15 and rgdure anb"_soBial behaviour. Comrnunlty Servlce8'. Including a social supÈrmarket, comrnunty café, job clubs, debt 8(fvI, monèy management and nutritson courses, and mental health support. Thesè 8&Nics$ arè delivered by SOUL Foundation to vthom we provide grant funding and other resources. Outr•a¢h & Pa•toral C•r•: Projects addressing pc¥)r mental heaNh and wdlbwng, homekssness, loneliness and IlatIon, and providing pastoral support. Pa1
SOUL CHURCH LTD REPORT OF THE TRUSTEES- ¢ontlnued r th• y•#r •ndod 31 Mlreh 2025 Wg work pathgrshi) with olh8r oiganisati)ns, iludI)g.. Th• Clare 8¢hool. a spg¢iolis institution for physic81 and sensory complex ntseds". arKI Toon Challango, a r•sid•nbal rehabilitstion programrne for addiction recovery. Ed8th"on and Je&Jershw devek)pment are central to our mion. Through our SOUL Lèalèrship Academy, we offera one-year theology diploma in collaboration wilh Moorlands Co118g8, cornbining 8cad&micstudy wlth aLcal exp8r18n and par50nal growlh. Students also participate in an annual intemats'onal mission trip. During Ihe ye we had 18 Sdents from across tho UK and Over¥¥. In 2024, w& relaunched our free Christmas prodijction. "The Wonderf,, a high-quality fe$tivg Frform8n attended by over 9,0 p8opi8, providing many famil wilh th•if only opportunity to experien a Christmas show, th)r no charg8. Our dasirè is to heb wpla th"Scor aThJ connact wilh Josus-INing out a Iovo for God, forolhers and for life its811 in a way that honcwrs (r past. impacts the present and buikls for the fijtrj. 08JECTIVES AND AcfMTIES Charftsblg Oblts Tha tharitable cornp3ny's obpcts, a5 set out in its Articl•s of ASSoaatn, are.. 1. To advan the Christian faith in the United Kin9dom aTrY th? Wor as the dIred0 Ircffl time to timè may saa fit." 2. To relieve sickness and finanoal hardship and to promote and preserve go h&alth by the provision of funds, goods or servicas of any kind, including through the provision of counselling and support in such parts of the Unitsd Kingdom or the wodd as the directors Ircffl time to b.me see fit., and 3. To advance educats.on in such ways and in such parts of the United Kingdom or the worfd as the directors from ts.me to ts.me may see fit. Our programmes and services are made available to all people Trrespective offaith or personal belief Equalty. versity and indusion are important to us and are uThJerpinned by robust Pol19$, aligned to legislab.on and rè¥td re9uL4rly. Publle 8tn•fit The Trustees have had regard to the Charity Commission's guhlance on public benoht {sècb"on 17 Charitss Act 20111 when r8vb9wing the Charity's 8irns and obje¢ti$ and in planning fvture actiMtie5. Our worship 8orvic••. t•achifvg nd pastornl 8UPPOrt advano the Christian tsith lobiect 11. Our Boclal pemiarket, community café, job club. mongy monagement and mental hoalth support help relieve povety, financial hardship and poor health (object 21. Our nurn•ry, SEND 4upport, youth #nd Ioadgrshlp programme8 advance e¢Jucation and person81 develorNnÈnt lobjeet 31. The Trustees are satisfie(l that Ihe activities undertaken during th8 year have direclly furthgTed Ihe Charitys ci>je¢ts and that SO chUh Ltd meets the public teneffit requwements. Pwje 2
SOUL CHURCH LTD REPORT OF THE TRUSTEES-eontlnu8d for th• year ended 31 Mah 2025 ACHIEVEAIENTS AND PERFORMANCE OvgThltw of A¢tlvltl•g The Charity o)ntOlU&S to deliver a wde range ol spiritual and practical service¥ in ling with its obiecls. Each week we host multiple Sunday services, wel¢oming on average over 1.700 people in pson and online. In addthon, wg offer. Children's and youth programm•s Young adult project5 Music and p8rfoftnance oppothnibes Mental health and wellbeing support btnen's Programmes and special int•r•st group¥ SOUL Leadership Academy A 90-plac6 nur5ary Courses such as Alpha and other disciplèship and support courses Summer eamps Soci81 supermarket and communty Café Job cl$ and homelessnass support A Christmas performance Serving 9,000+ peoFI8 These projects ain to •mwwer individuals holistically spiritualty, Smotionally, socially And practic41ty parb"cularty benefiting vulnerable and disa¢fvantaged p8oplg in our city and region. Staff and Volunt•èr• During thg year ended 31 March 2025 the Charty 8mpby•J 57 staff148 thJ114im& equfv8lant) rO$S a ranga of functs'ons including.. Ofst8&apKKOV8d nursary Café and hospitalty Student and leadership programmès Musi¢, produdion 8n¢J communications Finance an¢J hurnan resource¥ Sthools outreach Childn.$ and youth services Pastoral and mental haalth support Social supermarket and cmmUnty cafè Èekly church se¥vicEs Stsff are SLFPPOrted by an 8imy ofdodi¢atsd volunteeTr trom the church and wder cThnmunfy. Our volunteer evenings ha attra¢tsd nfrarty 600 individusb, and each week at least 200 volunteers serve across a varty oltearns. It is not realisbcally possble to assi0 a financial vahjeto this rasourcè and no such value is included in thes& aCnts. butthe Trustsos re¢ogni$e and areeeYg18tefvJI for the scale and impa¢tofthi$volunte&r conth'bjts'on. P#rtner8hip with SOUL Foundatlon Through partnership wth our sister charty. SOUL Foundatlon, we have continued to 0W our social sup&rmarke¢, now Supports ¥pproximal&ly 1,800 members. In adOn. we providg lob club$, monoy management and nutrition COUTses. and dedKatgJ support and signposting Servi$. hng pIple build morg and hopetsl luturgs. ere activitres are d81ivèr8d in conjunclion wlh SOLIL FtyJnd8tion, the Trusteas 8r9 mindfvl to respect the distinct legal identity'es ol the 0 charities and to ensure that r8sourc8s are appli8d in line with each charity's objects and donor intentions. Page 3
SOUL CHURCH LTD REPORT OF THE TRUSTEES- ¢ontinu•d lor Ihe year endod 31 March 2025 FINANCL4L REVIEW Fin•n¢ial P•rfornian¢• nd Posbtlon The Charity's financial positth durfng Ihe year remainad stiong and stabk. Incomo ntsTrU8 to be derid primarily from voluntary giving, supplernènted by nursery incom8. tradirKJ and fvndraIr0 8th"wtEs. EXndItre remained dosgly monitored and aliqned wth our ch8ritable aims. A pariKular hghlight was our Heart f¢r the lQngJom offering in Novsmbor 2024. which raa in excess ol £9,000. This generosity has 6nabled us to inv95tfuth8r vi our buiKrvJ, rninratri85 and outreath. both lo¢ally and abroad. Ovaran, th• years finawal pèrfornw has prowded 8 30hd platfc¢m for frjture rnB9n ¥nd rninisty, while gn8bling us to strengthen our posiljon (see bel)wl. Pthclpal Funding Souf¢•• The Charity'¥ prinepal ino)me streams ¢ompflSfj". Regular voluntary glvlng (often monthtyl from (urch attendeos 8nd olhgr supporters,. Othor donatlons, induding one9ts. offerings at sal ents and appeals., Nursery Ineom•, including statutory Èarty years lunding.. Income from tradlng a¢tiviti0s, induding café and events." 8nd De¥lgnat•d lurtd-rnl•lng campalgn8. $uch as th8 Heart for the Kngdorn off8rmg. also raise bjnds for speafic and urgent nggdg in r•sp(se to local, naonal or nt&mational espnts (for 8xampl•. reswnses to War or natural disasters). Opporknnits to donats are Fyovided through weekty servic05, onlin• giwng. text giving, BACS tron$fgr, stsnding orders and an ov¢rseas partnership with TrustBrKlgelGen8rosity Foundation. Fund Struthrg Thè Charity holds both and testricied funds.. Unmtrlct•d fund8 are avaikbb to be spent atthg Trustsos, discets'on In lurtherancg ofthe Charitys objgcts. R•Strict fundB $ubjgct to 5P8ufic conditions imposed by donors CY grant funder8. These indude.. Bullttlng Restrlcted Fund - rnonias received tcwards ts cost of our ¢lwrch lyji1rO and related capital works Ml8cellangou8 Restrictèd Fund a short-term reposilw for donatw)ns rescted particular appeals (balan £114 at yèar èndl. The Tnjstees eUre th81 r8slrict8d funds are used only frji their sperAfièd puwès and tr7at appropriate reeords are maintained. ¥e#lment Pollcy and ¢h Manaymont Trustees are empored. wherg appropriais wwjent, to invest funds in a manner approprialo to thè finanoal requirements ol th8 Charity. having regard to the seajrity. liquidity and èthical eonswjeratsons of any investments made. No invethent as5eis10th?r than and cash equivalents) were hel(J during theffinancial r. Surpluscash is in deposit 8¢Gounts to en5ur• both seojrity aThJ avai18bilty for charitsbl¢ pu8•$ 8t short no"ce. P&2è 4
SOUL CHURCH LTD REPORT OF THE TRUSTEES- conllnued forth• y•ar ended 31 Mr¢h 2025 Reserves Pollcy The ToJste8s havè •st8blishad a rn••rv• polley to •nsur• tho Charity maintains an adequate level of fr¢0 reserves.. to provide finanthal stabilty", to meet workino ¢apit81 requirements; 8n¢J to act as a buff•r against fluctuats.ons in Incomè and unaxpect8d èxp8nditur8. Tha targat Val of treè rèsèrvès Is s61 at thr•• month8 of •stlmat•d total •xp•ndltur• from unrestrictèd Jnds. This is reviewed at least annually. At 31 Marth 2025.. The caleulat•d tsrgèt l•v•l of MsèTh•g was £576,932., and The actual 1gv•l of troo reserv h8ld wrds £609.067. Fr88 re8grvgs are theTefore abovg tsrygt Iwel, giving a margin of safety and anablig us to plan for care1 invastmènt in ministry, staffing and infrastructur& while maintaining prudent reseNe8 Thè Trustees nsidgr this level of reserves to be approwiate in light ollhg Charity'¥ profilè and ftre pIar. Golng Concern Th8 Trusteès have eonshlerèd tha Charity s currènt financial posrtion, reserves. cash flows, budggts and forecasts. In light of these, and having made appropriate enquiries. the TrustÈÈs ha a raasonable exp8CtatK)n that the Gharty has adequate resources lo wnts"nu$ in OF4ratDnal existence for the foreseeabl$ luturè. Accordingty, the finanual statBrn8nts ha b8¥n pr•par8d On a golng conc•m basis. FUTURE PLANS Looking ah•ad, th• Trust••s int•nd to.. Continug delNg1ing our gxisting ran98 of worship 50rvic•s. disuplaship progfamme5 and communty pyojects., Further develop our outreach to chikIn, young 0p10, young adults and families". Expand our work in education arbd SEND, exploring additional opportUn'eS to supportd)ildr#n, young op18 and adults with addtnal nèÈds', Strengthen our leadership pathways through Soul Leadarship Acad8my aTrJ other delOpment ogrammes.. Invest. where resources allow. in our facilllBs anrj dioftal capabilllles to gnhance both I¥r$On and cnlne participation, and IA8int8in robust finaneial and governonce stondgrds, ewring wè rem81ft compliant, resilient antj aligned wth our Christian valu8S STrUCTURE, GOVERNANCE AND MANAGEMENT Govomlno Do¢umwt The Charfty is a company limlte¢J by guarantso, inc(Kporatad on 2Q May 2010 and re9iStèrod as a charity on 10 October 2010 It is govèmtd by rts Artides ofAssosation. which set out the Charity's objecis and wwers. In the event of the Charty bng wound up. members undertak¢ to contribute an amount not e9dIng £1 ¢Juring thwr mornLrship and f¢r g Pgriod 0112 months after ceasing to be 8 ffl8mbÈr Pagg 5
SOUL CHURCH LTD REPORT OF THE TRUSTEES. continu•d for the year •nd•d 31 March 2025 organItIOnAl Stm¢tur• Thg Charity is governed by 8 808rd ol K)lunteer Trustse8lDire¢t¢xs, who bring a breadth ol experien and eype"s@ to maintain stratégic dir•cb"on, onsur8 good gov8manc8 and ovarse8 tha aff8cli managèmant of Ofganisational requirements. DaY-tdaY managementofthe Ch8rity'sacb"wts is delegatedto the Senior Pagtor, who also serves as Chi•f Ex•cufjv• Offic•r ICEO), supported by a adership tèam and stsff of around 50 èryloyaès. Voluntèers aY vitsl role in the delivery of servi$ and projects. The Trustses retsin overall responsibS11ty lor.. setting the strategie di"On., approing budgets and major policies.. monrtoring perfomian¢o", and ensuring that the Charity compfias with 18gal aTrJ regulatory rtquirernenls_ R•crultm•nt and Appolntm•nt of Tru$t••8 The powèr to aN>oint naw Trustèas rests wrfh thé B08rd. recruiting Trustees. the Board seeks to maintain a baland and diverse membership with a wide range of skills 8nd professional expori¢Thts that vant tr) thè Charity's naed5. All Trustees are active members of the thurch and generously volunts•r th&ir Im8 in d8liv8ftng sorvi¢g$ aThJ governance responsibilities. Now Truste8s r1Ve a comprehensive induction, which includes". information on thg Charity 3 history. vision. strategic priorities and operations," guidanc on iheir kgal dutss and SponSibl11t1eS under charity and company 18w,' and inti¢)du¢tions to key staff and fvlbw Trusts. Trust89$ are enwur8ged to atsnd relevant trainiTrJ to keep up to dats with charity govgm8nc4, Safgguarding and regulatory developments. Pay and R•munernllon The Remuneratlon Commlttee comwises a quorltm ofat kasl thr¢0 Board mernbers. It is responsib for. revng and agreeing anrnual pay awards,. approving significant payments., seth.ng pay bands and bènehmark¥lwith retsrence to comparable roles intha ch8rityandwider8ecto where appropriatsl.. and ensuriNJ t8rnuneralion B tsir, transparent and aligned with the Charity8 v8lue8 and strateg objectives. Tha Tru#tees h8ve Klentified the Senior PastorlCEO and senior leadershlp roth as koy tnanagamnt peYsonn¢l. The ReMuneratic Comrnitt88 sets and reVW3 the remunefats'on of key man>Jement personnel and rèlatad pJlic*s. Senior Pastor John Norman is a Trustèe 8nd is also employed by thè Charity in an operational role. The Trustees are miThJful of thè neèd to manage any polential rnnffic15 of interest in accordan Mth Ihe Charity's nfli4)f-intre$¢ policy and the Charity Cornmission'8 guidance. Furthèr dètsils ofTru¥teg and key manementremUneratiOn, an4 1?1¢d party transaction5, are disdos8d in th8 nots8 to the financial statements. P¢6
SOUL CHURCH LTD REPORT OF THE TRUSTEES . contlnu•d forth• year ended 31 Mareh 2026 Rolatod Pwrties and Conlllets of Inttr•Bt The Tru5t885 maintain a register of inter0$ts and require Trustees to declare any r8lav8nt inttrasts at tha start of aach Board meeting and as decisions arise. Trustees wth a wtèntial ConfftithdraW trom discussron and d8Clon-Maknng on the relevant tnattor. Th8 Board is attentive to thè Charity's relationships with connected org4ni¥alion8, induding SOUL Foundation, to gnsure that trans8Ctions arè ttonduCd on an arm's lèngth ba$1$ and in Ihe best interests of the Charity. RISK MANAGEMENT The Trustees have overall respon$ibillty for the Charty's system of internal control 8nd for reviewing i eff•etivgness. This includes idents"fying, èv41uan9 and rnanagiThg tha koy risks faced by the Ch8rity. A risk mgi5ter is maintained and reviewed regularfy by the Trustees and senior aderShiP. This identifi95 prncipal risks, assèsses thelr likellhood and irnpact. and sets out the controls and atylions in F4ace to mrtigate th•m. Thg principal risks currendy h1entifigd in¢lu¢Je Ibut are not limrtgd to}.. Sofeguafding and Prolion ol Vulneraue People Risk. hami to childrèn. youn9 peopleor Jults al risk through inadoquat8 saf8guaTding piactices. Mi'gats'on'. robust safagu8rding wlicie8'. safer CrUItMant,. DBS cth8cks'. rnandatory training, deslgnated safeguarding leads., ragular policy r8Vi8W. Financial Sus¢ainabilty antj Incom? Volattlity Risk.. reduction or fluctuation in voluntsry income and other key ?come streams. Mitsgab"on.' activè stewardship and communrats'on with don015', dNers• incom• sources (including nursery and tradin91'. re3grves poIY', regular budget monitoring and forècasts"n9. Complkince and Regul8tory Risk Risk". failure lo comply with charity. company. ernploymant, data protection or heatth & safety law. Mitigath)n. polici9$ and procedures," extemal pfofessioftal advice wknere appropriate, Trustee and staff training,. ragular revw of regulatory tharrfJ•s-, usa of r•putablè payroll and ¥¢¢tsunting systerns. Reputational Risk Risk.. adv&rsa èvènts, misconduct wrnmunication failures damag¥ng the Charity's reputation and public Irusl. Mitigation.. strong safeguarding culture.. clear codes of eA)nduct', complaints and whisllebbwng proc8dures", tr8nsp8renl cornmunicats'ons., oversight by Tru$le85. Dgpend&nc8 on Key Pw50nnel Risk.. over-r•lianc• on a 5rnall nurnbgr ol lderS crf speck?lists. Mitigation.. leadership development." leam-based 8tructurè8", succes*on planning.. ocumentstion and delegation of responsibilitiBS. The Trusts&s ar8 satisfied that appropriate systems and controls are in placg to mitiwo theso and ther risk$ to an 8¢c4ptsbJ8 level, recogniwng that no system ¢gn elimlnale risk antity. REFERENCE ANO ADMINISTrATIVE DETAILS R•glstsred Company Number 07260215 (England and Wales) Reglbtered Charfty NuMr 1138459 Page 7
SOUL CHURCH LTD REPORT OF TrIE TRUSTEES- contSnuod forthe year •nd•d 31 March 20215 Rogi•t8rpd Offlce Soul Church SS Heartsease Lane Norwich Norfolk NR7 9NT Trustee• l Directors Mark Hollger- Director Susan KnvJhts- Director Je McKinney- Director Richard Nash- Director Pastor John Norman- Director Steven Mawston - Directoi - Resignad 21 Juty 2025 na9ern•nt L•ad P88tor John Norman- Senior Minister and Chief Execub"¥e Officèr Company Secrotsry S L Ehvell K E Evans Appointed 23 Septambgr 2025 Ro$ign8d 23 S8pternb8r 2025 Auditorn S8xty 8 Co Chartered certor A¢xountants & Stslutory Auditor 124 Th0 Road Nomch Norfolk NR1 1RS
Page 8 SOUL CHURCH LTD STATEMENT OF THE TRUSTEES, RESPONSIBIUTIES for yoar ended 31 March 202S Th8 Trustees (who are also ol Soul Church Ltd for th¢ purpo$&s of¢omp8ny lawl ore r9$ponsiO lor preparing the Trustets. Report and the f nan¢ial 3tatements in accordance with applicable law and Unit¥d Kingdom Accountsng Stsnd8rd$ (United lQngdom Generalty Accepted Accounting Practy"cel. Company law 18quires Ihe Tru51ees lo prepare financial staternents for each financial year. Under that lawthe Trustees musi not approv8 tha financial ¥tsternenls unles5 they are satisfied that they give a true and fairwew of the state of affrairs ol the Charity and of Ihe incoming reg0w$ and apr4ication ol resour5. including incomo and expenditure, of the Charity for that p0d. In pr8ring these financial stat8m8nts, the Twstses ara raquir*J lo.. select suitable accounting polici8s and th9n apply them )nsisteny", observè the rnethods End prinuples in the Charities SORP IFRS 1021., make judgements and èsb"matès that aré reasonable and prudent., state whether aPICable UK Accounting Standard8 havs boon followed, subject lo any material departure$ disclosed and explained in th@ financial statements.. and prepa the financi81 ststements on Ihe goiro eontsrn basi$ unl•s$ it is In8ppropriateto presume that the Charity will continue in operation. The Tw5tees are responsible for keeping adequate accountiwJ records that are stsffieient to show and explain the Ch8rty's trans8thons and disclose wrth reasonable accuracy at 8ny time the financial posibon of the Charity and enablg them lo en¥urg that the financial staternents comply wf¢h the Cornpanies kt 2006. They are also responsible lor safeguarding the assets of the Charty and hen¢e for t8klng reasonaNe steps for the provention and detection of fraud and other irregularib8s. In so far as each of the Trustees is awwe.. the is no relevant audit infrjmiation of whth Ihe Charity's auditor is unaware.. and each Tnjstee has taken all the steps that thèy ought to ttken as a Trustee in order to make themselves awar& ol any r61avant aJIt inkKm8tion and to establish that tha Charty s auditor is aware of that inform8ts"on. The Trustees are re¥Jonsible for the rnaintenance and intsgrity of the cortorate and financial informab.on induded the Ch8rrty'S W8bsits. Le91tIon in thg Unrted Kingdorn govsming the weparation and di&88minatIc ol financial statements may differ from legislation other jurisdicb'on This report has been prepared in accord8nce with the spal provisions of Part 15 ofthe Companies A¢t2TrJ6 relating to small companies. .I,.I Jprov8dbytha 8oardofTrustaèson................... .. ... . and Sn8d on its behalf by.. John Nornan jTru8to9
Pagè 9 REPORT OF THE fNDEPENDENT AUDITORS TO THE MEh1BERS OF SOUL CHURCH LTD Opinion have audiled the mnstslidatsd financAal stakments ol Soul Church Ltd lthe '¢h8ntatAe (xJmpanYI lor the y8ar ènd8(1 31 Marth 2025 which Lxrnprise the ConsolvJal$d Slatsment of Financial Acts'wities, the Charity Balan Sheet, the Consolhlatèd B818nca Shèèt, the Consolidated Cash Flth¥ Ststsment and notes to tt financial ststern8nts, induding a summary of significant accounb.ng polic8. The fjnan¢ial reporting framework Ihat has b6en appled in their preparation is 8pplicabl8 law and United Kingdom Accounting Stsndards, Iduduig Financial Reporb"ng Standard 102 Tho Financial Reporting Stsndard applicabb in the UK and Reput4ic of IrelaThY (United Kingdom G•[alty Acwbj Accounb"ThJ Practice) In our opinion the finanoal statements". give a true and fair 70 of Iha state of Ihe Chitable companys affaiT¥ at 31 March 2025 and of its incL)rning $OurceS and applicalv)n of r8sowcès, including its income eXpeThjitu, for the year then ended.. have been properfy prep8red in a¢cordane¢wth UnFted Kingdom GenerallyAccepted Accounting Pra¢ti¢&', and have been prepared in acc4xdan¢o with tho wuirements ofthe Charibes Act 2011. 81$ for opinlon VIÈ o)nductsd our audit in acwrdancg with Intsmational Standards on Audlong IUKI IISAS IUKII and applicab18 law Our responsibilities under those stanLJards are fvjrther described in the Auditors, SpOnsIbl11.es for the audit of the financial 5taternents 8ection of our report. We ara indtrpendent of the charitsbb cnmp8ny in 8c£ordane8 With the ethical requirements that we relevant to our audit of the linanck81 ststements in the UK. inc4uding tre FRCS Ethul Standard. and have fu1fi119d our other8thical re5pon5ibiliti&s in accordance with Ihese requitsrnÈnts. We believe that the audit eviden we have obtained B suffic4ent and appropriat to piomde a basis for our opinion. Conclu8lons r•latlng to golng ¢on¢tm In auditng the financial ststemtsnts. we h8ve eoncluded that ffte trustses, use of the going concern ba3 of a¢nting in tr6 preparation of the financAal statements is appropriate. Based on the worf( we have F¢rforrnod, wtr ha Trjt id8ntifi•d any matsri81 uncertaint$ relating to events or ¢ondibons that, indivh1ualty or collectively, may cast 8ignific8nt doubt on the ch8ritsble company's ability to conb.nue as a going concern for a period of at least Iw•lv& monlhs frorn whert the finanrAal statements are auUw)rised for iss. Our responsibilities and tre re5ponsibihts of the tru3tees wth to going con(rn arg dgscrited in Ihe re18vant sections of this F{)rt. Oth•r InfOallOn The other inforffjats.on comprfses the tnfCats"on indje in the truslees, annual report, otherthan thg finonci tsternonts and our auditorfs r8POrt Ih&rttsn. Tr trustees are responsible forlhe other infomats"on. Ouropinion on the financrdl statsments does not coverthe other information and we do not express any forrn of as$ur8ncg condu5ion th8r•on. Our responsibility is to read the other infom8tion and, in doing so, consider whether the other Inromiatn is fflaterially inconsistent with the financial statements or our knowledge obtained in the course ol the oudil or otherwis& appears to be materially misstated. If we Klentify such material inconsistencaes or appar8nt matèriol rni8Stat8ments, wè are requir8d to det6rfflin6 whethar this gives iige to a rnaterial rnisslatement in the financial statements themseeS. 11. based on the work w8 hav8 performed, we ccfficlude that Ihgre LS a matsrial mksstatementof this otW infomiation. we are requi to repc#tthat faci. hav9 ngthirvJ to roport in Ihis ragard. latter* on which w• ar• T1r0d to roport by •xcoption have nothiThJ to report in resrKct of the following matters in L?tion to whith thè Charibès [Aj 8ThJ R•portsl Regulabons 2008 require us to report to you if, in our opinion". the information given in the trusteès. rèport is inwnsistent in any materi81 rèspect with tha finanoal statements., or sufficient a(rovntin9 records h8v8 not b8en kept.. or Ihe financial statements are not in agreement witt) the unting recx)rés,' or have riot rg¢sivgd all tho inforrn8tion antj gxpl8nations wa require for our audf(. Pag• 10
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SOUL CHURCH LTD-eontlnu•d RPOnSIbIlItI•9 of trugt808 As explained more fully in the Statement of Trustees, R•sponsibi1rt, the tnJstee$ (who are also the directors ol thg charitable company for the purpts89s of company lawl are responsible forthe preparat¥)n of the financial statements and for bÈing satisfied that they gN8 a trua and fair wew, and for suth internal control as the trustees determinè is nea%5ary to enable the preparation ol financial 3tsternents thal are free froffj material misstatsment. whether dua to frAud or ÉrroT. In prep8rin9 the finanual statements, th• trustèès arè rèsponsible for assessing the charitable company's abihty to ¢ontinue as a going concern, disclosing. 8$ applicable, matters related to going concern and using the going concern basis of 8eeounting unless the trustses ¥rth8r Wrtend to liquidate the charitsbk company or to ce85e operations, or have no realistic altemaDv¢ but to do so. Our respon8lbllltl•s forth• audlt of the flnancial statsment8 We have been appointéd as 8uditor under section 151 olthè Chariti•s Act 2011 and repjrt in a¢cordance with tho A¢t and rebvant regulations made or having off¢¢l thereunder. Our obiectNes are to obtain raasonae assurance atM)ut whathar the financial statèments as 8 wh8 are tree from malerfal misstatement, whether due to fraud c¥ errol, Bnd to i3sue a Report ol the Independent Auditors that includ8s our opinion. Reasona¢ assuran is a high level ol assurance, but is not a guarantaa that an audit condurted in 8¢¢0rdance with ISA8 IUKI will 8lwsys d8t8Ct a rnat8rial misst8temenl when it exists. Miystaternents can arise from fraud or &rror and are considered material if, individually cff in the aggregate, they ccwjld reasonably expected to influence the economic decisions of users taken on the basis of thasè financial statements. Th8 exlent to whith our procedures are capable of d4gGting lffggulacilFe$, Including fraud Is delai18d below. Irroguiiritias, inc1JIng fraud, aro instances of non-cx)rnF4ianco wth laws and ragulations. We desi prOdureS in line with our responsibilrties. ouuined atKJve. to detect material misstatements in respect of irT8gularitie$, induding fraucl. Thg extsnt to whlch our procedures are capable of detéeting Irreoul8rities, includ#?g fraud i¥ detsr.led below.. We h8v¢ madeenquirieswith management regarding their procedures forcomplying wth laws and regulations along with dotecling and provgnl fr8u¢J. IAÈ al revEw minutes of rneetings and any published news artl88 to Idtsntify any instarw ol non-compliancewrth and regulations. Evidence has been obtainèd wher8 applicae. Writn representation has been obtained to confirmthere hav been no breaches of laws and reguLgtions. The audit procedures a designad so that *ith rèagon8b18 assuiance, tnat8ri81 misstatamonts can be detected, inclLKling thosè relating to fraud SFecifically. areas which invofve provisions or estimab.ons he been tested where rnat8rial. conw¢Jerour approach to b8 reasonable for this entity. A fijrthar dOP1K)n of our respOnbIlitieS for the audit of the financ1 ststernents Is localtsyj on Financial Reporting Councifs website at vrnw.frc.org.uklauditoryesponsibilrties. This descrption forn part of our Rèport of the Independent Auditor5. Page11
REPORT OF THE INDepeNDENT AUDITORS TO THE MEMBERS OF SOUL CHURCH LTD- contlnuod Use ol our report This report is rnade solely to the tharitable MpanY'S trust•es, a$ a body, in accordance wilh Part 4 of the Charits"es (Acwunts and R8porbl Rogulations 2(JJ8. Our audit woth h88 been undortakan so that we might statè to tha charitable company's trustees those matters we are reouired to state to them in an auditorfs report and for no other purpose. To thg fullest extsnt pèrtnitted by law, we do not accept or assurne r8sponsibility to anyone otherthan the ¢harit8blg ¢A)mpany and tre chatab comp8ny's trustses as a body. for our au(Jil work, for this rapor( or fr)r th8 on)n$ w6 have rned. A M Orve5 (Sènior St2kntory Auditor) for and on behalfol Sgxty & Co Chartered cerh.fied Accountants & Statutory Auditor 124 Thorpe Road NorwiGh Norfolk NR1 1RS Dale.. 2Q2r Page 12
SOUL CHURCH LTD CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUN for the y•ar •nd8d 31 IA#rch 2025 2025 Total funds 2024 Total fund5 Unrestricted R89triaod fijnds ftjnd Notes INCOME AND ENDOWMENTS FROM Donations and legacies 1,802,688 287,831 2,090,519 3,379,281 Ch•ritable a¢tivStles Chwitablo Ath"vrty 887,934 1,114 889,048 553,406 Other Irading a¢tthtie$ Investment income other incomg 354,625 5,575 354,625 5,575 104.715 7,078 1.014,191 Totsl 3,050,822 288.945 3,339,767 5,058,071 EXPENDITURE ON Raising funds 33,477 33,477 28,189 Trading activity Charitable actw 277,875 2.627.165 277,875 2 812373 41.330 1717.832 185,208 Total 2.938.517 185208 3,123,725 1,787.351 NET INCOME 112,305 103.737 216,042 3,270,720 TRANSFERS BEfwEEN FUNDS 17,190 117.19)} NET MOVEMENT IN FUNDS 129,495 86,547 216.042 3,270,720 RECONCILIATION QF FUNDS Total fvnds broustht forward 6.791,664 6,458,616 13.250.280 9,979,560 TOTAL FUNDS CARRIED FORWARD 6,921.159 6 $45 163 13 486 322 13 2SO 280 The notes lomi port ofth8se financial $lalemenls Pagè 13
SOUL CHURCH LTD BALANCE SHEET 31 March 202S 2025 Total fund5 2024 Total tunds Unrestrirt¥d lurKIs R8slricted fund Notes FIXED ASSETS Tangiblè assats In¥Rstments 11 8.667.721 12 6,545,049 15,212,770 15,661.638 8,667,722 6,545,049 15,212.771 15,fj61,639 CURRENT ASSErs Debtors Stoths PPayrnents and acLrued income Cosh at and in hand 13 170.099 3,160 10,288 170,099 3.160 10,288 897 822 1.081,369 457.157 104.914 114 114 1,081,255 848.055 CREDITORS Amounis falling duè within on8 year 14 1510,7581 (510.758) 1829,4761 CURRENT ASSETS 570.497 114 570,611 16,579 TOTAL ASSETS LESS CURRENT UABIUTIES 9,238,219 6,545.163 15.783.382 15.678,218 CREDITORS Amounts falling dL* alr onè yèar 1S 12.324,1581 12,324.1581 12,437,fj691 NET ASS3 8.914.OS1 6.545.163 13,459.224 13.240,549 FUNDS Unrestrict¢d funds R¢5tri¢tsd luTrJs 16 8.914,061 6,545.163 6,781.934 6,458,615 TOTAL FUNDS 13,459,224 13.240,549 These financial statements have been ppared in accL)rdance with the provisions applicabk to charitab ¢xnpanie5 subjoct to the 8mall companios rggime. The finan¢id $ta ents were approved by thg Boar(l of TTustee5 and authorised for on . and were ne Its behalf by.. R P Nash_ Trustèe The noi8s form part of these financial Slatsnts Pagg 14
SOUL CHURCH LTD CONSOLIDATEO BALANCE SHEET 31 March 2026 2025 Total nds 2024 Total fvnds Unrestricted R•sIrd fijnds nd Note FIXED ASSETS Tangibl? assets 20 8,731,971 8.731,971 6.545,049 15,277.020 15,717,608 6.545.049 15,277,020 15,717.608 CURRENT ASSETS Stocks Debtors Prépaymnts and aeeru•d income Cash at bank and in hand 9.036 71.146 14.357 933,106 1,027,645 9,036 71,148 14,357 933,220 1,027.759 516 401.775 104.914 298,422 805.627 21 114 114 CREDITORS Amounts fallirvJ due wthin one year 1514.2991 1514,2991 1835,2861 NET CURRENT ASSETS 513,348 114 513,460 29,659 TOTAL ASSETS LESS CURRENT UA3ILITIES 0,245,317 6,S45,163 1S,790,480 15,687,949 CR£TORs Arnounts fallng due after ong ygaT 23 12,324,158) (2,324,1) 12.437.669) NET ASSETS 6,921,159 6.545,163 13,466,322 13,250,280 FUNDS Unrestrted fvnds Re51ri¢ted funds 24 6,921,159 6,545.163 6,791,664 6,458,616 TOTAL FUNDS 13,466,322 13.250,280 Tho$9 financial stataments have been txepared in 8ceordanc& with th8 provisbJn$ aPICable to charitab companies subieGI to the 8rnall Companies iegime. The fina ents were 8mrtsV by the Board of Trustses 8nd aulhcwi8ed fr)r Issu9 on . and weré ggned on its behalfby.. R P Nash- Trustee The Th)tes fom pwt of thes• financial statements Page 15
SOULCHURCH LTD CONSOUDATED CASH FLOW STATEMENT for tho y•ar •nd•d 31 March 2028 2025 2024 Notes Ca•h 114)wJ from opernlng a¢tlvltleB Cash generated from operations Interest Paid 1,007,915 200,808 1.845.839 14,091 Nèt cash providÈd by orratino adiinbès 807.107 1 831748 Ca6h flow6 from Inv•$tlng a¢Wvltl•s Nel Disposal I (Purthasel ol fixed assets Int8rast r6ets1 164.3731 5.575 15,805,7821 7.078 Net Cash used in Inting a¢tivities 58 798 5.798,704 Cash Ilovh from flnancing actlvltles Nèt non4urrènt k)an movernent 113511 2 437 669 Net Ush provhY&d by finan¢Jng aCtItieS 113,511 2,437.669 Chang0 In ¢gh and $h •quhvl•nts in the reporting period Cah and Cash •quival•nts at th• boolnnlng of the reportlng perfod 634,798 11.529,2871 1.827,709 C•¥h •nd ¢a$h equlvalents atthe end of th• r•porlng porlod 933.220 The rKJtss form part ofthese financid statsments Page 16
SOUL CHURCH LTD Noteg to the Consoltdatèd C¥8h Flow Statement forth? year •nd•d 31 March 2025 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERAllNG AcnviTIES 2025 2024 N•t Incomo for thg reportlng perfod las p•r tho Stat•mènt of Flnanclal Actfvltlwl Adlustmonts for= Depreciation ¢harges Inter&st e1V8d Profft on disposal offix8d 8ssets Bank and other charges Decreasellincraasal in d8btors IDecreasellincreas• in creditor5 Decreasellincr83981 in stock 216.042 3,270,720 504,960 {5,5751 50,691 17,0781 11.011,3871 14,091 148,9581 1424,0961 200,808 378,361 1278.1611 8.520 N•t ¢a¥h provided by operatlons 1.007.915 1.845,839 ANALYSIS OF CHANGES IN NET FUNDSIIDEBTI At 1.4.24 Cash fflow Al 31.3.25 N•t cA8h Cath at b3nk and in hand 298,422 634.798 933,220 298 422 Debt Debts falling dug wtthin 1 year Debts falling due after 1 year 1514.2991 1514,2991 113,511 2,324,158 2.437.669 2 437.669 2,838,457 Total 2 139,247 1,905,237 The notes forrn part ofthes8 financial statements Pag8 17
SOUL CHURCH LTD Not•a to th• Consolidat•d Flnanclal S¢atsrnont• for th• yrend•d 31 Mareh 2026 AccouKfiNG POLICIES Ba•ls of pr•parlng the Ilnanclal statgmgnts The fin8ncaal statemènts of thé th8rit8bla compary. which 18 a public benefit enkn.ty under FRS 102. have been prepared in accordance wilh the Charities SORP IFRS 1021 'Accounb"ng and Reporting by Charitiès." Staitnent of Recommended practi 8pplicable to tharitiè5 prèparing thair accounts in accordance with the Financ481 Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021 lelfective 1 January 20191,, Fin8nciJ Rèptsrtsng StsndArd 102 'Thè FinancA81 R&porting Standard appliiable In Ihe UK and Republic of Ireland, and tho companios A¢t 2006. Thè finanual ststements have been pr8P8red und8rlh8 historical costor transaction value unless otherwise ststed in the rèlevant account.ng policy noies. Th8 finanaal statements ar? prosentsd in pounds st¢rling and a rtyjnded to the nearest pound. Company status Soul Church Ltd is 8 PriV8te wmpany limited by guarantee in England and ha¥ no sharè eapital. The reyistered address listed in the trustees report Parent ¢harflblo ¢ornpany The paront ma¢Jo a $urplu$ of £218,674 12024.. £3,270,349) for th¢ year. Vn¢Jer so¢tlon 408 of th8 Companies Act 2006 the Company is exempt from the requirement to present its own statement of finan¢lal a¢tiwti&s wthin Ihgsg ¢nSOl1dat¢d finan¢631 statemgnts. Income All income is recojnised in tre Statement of Financial Actthes On tre charity has enb"tJement to funds, it 1$ probable that Ihg inwrno will bo t?1ve and Ihe arnounl ¢an rn9g$urgd rgliably. Inccme from trading act'vities includes incoffE eamed from fundraising event, tradiThJ aCtties to raise nds ftsrthe thanty and trading ineomeofwholly owned sub$idiary Sr>ul EnterpriseTrading Ltd. Inwrn$ Is received in &xd)ange forsupplying goods and s&Mc8s in order to iais& hjnds and is recognised when ontilefflonl h85 o¢¢urr8d. EXpendr abiliknes are r8cognised aséxp8n¢Yiture as soon as th8re 6 a f8gal or constructiw oblig8n cofflrnitling the charity to trat expenditure, it is probabk that a transfrr of economic bènafits will bè raquirad in setuetnent and the amount of th8 obligation bg rneasured reliably. Expen¢ilure is a(xt)unted for on an acc91$ basis and ha5 been classified underheadingslhat aggregateall (xstielated to the category. re costs cannot be directly attribut8d to p8rbcular h•adings thèy havg begn alloted to a¢ts"wtig$ on A b8sis [SIStent with the use of resources. Rallng fund8 Costs of generat'ng income are those inculd in seeking voluntary corbtributions and 0th8r incom8 genèrab"on, for 8mple. the ¢osts associated with njnning events. Support eo8ts Support costs indude the central fiJn£*c5 of finanL¥, human resour$. inf0mtIon technology, extemal relats.ons and general administration. G0man¢• to#ts Governan Costs include those incltrred in Iha gornanc of thg Charty and its assets aThJ are primarily ?sso¢iatod with ¢on$bttrtional and stabjtory requirements. Pag¢ 18
SOUL CHURCH LTD Note¥ to th• Con•olidat•d Financial Stat•rn•nt• . contynu•d for tho yèar •nd•d 31 Mareh 2020 ACCOUNTING POLICIES- continu•d T¥ngiblo fbxod ass•t• Fixtures and ffttings and motor vehides are stated at cost less depreuation. Freehokj property property addth.ons arè slatèd at repl8cem8nt C05t. Assets are FHtal1Sed wh8n th& value of the assot orgroup ol assets acquired lor a single purp)se costs at least £1,000. Depreciation is provided at Tales calculated to wnte off the cost ol fixed assots, loss their ost'mated r8sidual value, ovw their axpected U89fv1 lives on the folh)wing bases.. Freehold prcperty Propolty additions Fixtures and fitb'ngs Motor ¥8hiclos Planl and tnachinwy - 2% on c08t - 20% on cost 25% on reducing balance - 25% on cost - str8ighl line over 3 ye8rs Taxatlon The charty is exempt frorn cuporath'on tax on its chartsble activities. The charty's 100% 1)wned subsidiary Soul Enterprise Tradin9 Ltd is not exernpt and therefore pays eorporats.on tsx at the rnain rate. Value added tsx The charff¢able company is registered for VAT. Any irrecoverable VAT is charged as an expsnsè against the activty lorwhich expendrture arose. Volunt•er h01p Thg valug of ony voluntsry help re¢eNed T$ not in¢lu¢Jod in Ihg flnan¢ial $tstgm8nts but is desuibed in the trustees annual report. Fund ae¢ountlno unreslr1ed funds w bg Used in awOrdan with Ihg ¢harilabl8 obj"teS at the discrebon of thè trustees. Designated fvnds rmplISe unrestricted fvnds that have been set aside by the trustees for partiGular purposgs. Restrirted funds can onty be used for parbcular restricted purp05e$ wlhin thg obj8Cts of the Charty. Restrictionsarise when sperjfied byttte donor orwhen fvnds are raised for particular reStrted purpose. Further explanation of Ihe nabjre 8ThJ purpose of each fvnd is incltyyed in the rths to the ffinancial statements D•btor8 and cr•dltors rocolvabl• I payablo wllhln one year and Long terrn loa Dgblorn and ¢rèditois with Stat intwestrate and receivable orpayabbwithin oneyearare recorded at transaction prica. Long term ltsans arè initkqlly mèasured at bznsaction price and subsequentty rneasu at amorb5ed C05t using thg effective interest mgthod. Hlrn pureha8• and l•a8lng ¢ommltmonts Rents1$ paid under operating IÈ85ès aré tharged to thè Statement of Financial Ath"wties cm a straIt lin* basis over the period of the lease. P•nslon costs and oth•r post-retlremgnt benollts The charitable company operatès a dèfvad contribution pension scheme. ContrbutKJns payable to the charitablè eompany's pension scherne are charged lo tho Ststement of Financial Adiwbe5 in the Fgriod to which Ih•y ree. Pagg 19 continued...
SOUL CHURCH LTD Not•s to th• Conaolidated FIn•n¢1 Stat•m•nts - eontlnued lorth• y•8r •nd•d 31 Mor¢h 2026 ACCOUNTING POLICIES- contlnuad Golnq concom Thè financial 3tatements have b8en pr8pared on 8 going COnM basis as the truste9$ belv that no aterial uncertainb'es exist. The trustees have wn8idered the level of fuThJs held and tre èxp8et8d181 of income an¢Y axpendittjre for 12 months Irorn auth0ri5ing th9se financial ststements. The budgatsd income and expenditure is sUffiCnt with the le1 ol reserves for the charity to be ablè to unb.nue as 8 going o)n¢em. DONATION8 AND LEGACIES- GROUP 2025 2024 Offerings aThJ gifts Grft awj Grants 1,881,326 213,317 15,876 3,15fj,526 221.972 781 2.090.$19 3 379.281 OTrIER TRADING ACTIVITIES- GROUP 2025 2024 Evènt tid(èt 5818s Soul Enterpre Trading Ltd Staff costs recharged- Soul Foundat'on 27.944 211,308 115,373 354,625 33.294 70,821 104,115 OTHER INCOME- GROUP 2025 2024 Gain on di$pos81 of fixed assets 1,014,191 INCOME FROM CHARITABLE ACTIVITIES- GROUP 2025 2024 Aetivty Café. books and resour¢48 Charitabb Acb"vity Pre-s¢hool ¢hihjn Charitable Acts'wty Sundry incoma Charitable A¢ts"wty 712 528,628 830,955 57.413 889.048 553.4( CHARITABLE ACTivmES COSTS- GROUP Dirè Costs l$ee note 71 Support costs (see note 81 Totals Charitable Ath"v 2 812.373 P8ge 20 ciJnthue(l...
SOULCHURCH LTD Mots• to Iho consolldatod Flnanclal Stat•m¢nts - Contlnued forth• yèar •nd8d 31 March 2025 DIRECT COSTS OF CHARITABLE ACTIVITIES- GROUP 2025 2024 Trustees, wmuneration etc Staff ¢05ts Rgnt of premises Insurance LvJht and heat Tel&plK)ne Pastoral we usts Sundrie5 Global missions Ministry purchases Ifoodl Travel and subsislence Ministry contractors 36.972 999,006 32.581 47,375 104,245 3,078 3.357 62,915 134,098 55.892 131,201 127.469 35,472 804.943 28.894 28.520 128.425 9.168 2.601 44,598 140.5 35.824 81,559 86,374 111 Conferènce costs Hire ol •qUiFrnent Donations, gifts and flowgrs Hontsrariums Printing. advoi*sing and putlicity Cleaning and hy9ne costs Water Maintenan Small equipment purchas05 and repair Training and developmant Hosting expenses Securty, he8lth and 8afety et Supply teachers anagement ov8rhèad$ 36,419 29,112 44,698 22.731 20,189 43.995 3,032 37.103 88,755 7,125 10,108 4,916 8,987 13.077 37,635 9,292 13,880 1fj.943 8.337 19.735 38,802 8,738 10,815 1.913 3,540 2 066 370 1,618,368 SUPPORT COSTS- GROUP MaageMent Governance costs Totals Charitable ActNty 530,859 530,859 215,144 215,144 746,003 748,003 Suppo1 costs, included in the above, are as folows". 2025 Total Actiwti•s 2024 Total activ•S Trustees, rwnuneration etc Postage and stationary subsith.ary tax DÈprÈc18tion of tangible assets Auditor3, remuneration Audrtors, remuneration for audit work Prolesgonal fees Los5 on 5819 of tangible fixed as5els Interest payabl• and similar tharg8S 18.488 7.414 17,738 5,310 504.959 7,500 50,691 6,950 550 1,312 2,824 14,091 5,357 200,808 99,464 Pag8 21
SOUL CHURCH LTO Notss to the Conaolid•ted FlnancL41 Stat•m•nt•- eontlnugd lor th• yr gnded 31 March 2025 TRUSTEES. REMUNERA TION AND BENEFITS- GROUP The Arb'cles of Association alk)w the tfU8tees to rècèiv8 ramuneration Irom th? ¢harity. During th& year or trustee was an employee of the charity in which capacity they received salaries of £49.29512024.. £47,859) and pension ¢ontribulitsn$ of £81612024.. £NILI - no tru$ts6s received any paym8nts for tIng a5 5uth. Tru#t8•s' •xp•n$e• Jrin9 y•ar, expense payments of £NIL12024.- £ NIL) We paid to the truste68. 10. STAFF COSTS- GROUP 2025 2024 Wag¢s an¢J salaries Social security costs Othèr wnsion costs 959,458 73,963 21,045 780,221 59,59S 18 334 1 054,464 858 151 Thè 3ra9 rnonthly number ofemployges durirvJ the y•arwas as follows." 2025 2024 Employee6 61 50 No emFYoyees receivèd èmolurnents in excess of£80,(KN). 11. TANGIBLE FIXED ASSETS. CHARITY Fixtures and fithngs Freehokj proparty Motof vehides Totals COST At 14oril 2024 Additions Dispo$815 14.940.901 2.039 1,483.524 39,964 51,475 16,475,9DJ 42.003 At 31 March 2025 14,942,940 1,523,488 51,475 16,517,903 DEPRECIAnON At 1 April 2024 Charge lor year Eliminated on disposal 295.463 271,950 467,324 218,921 51,475 814.262 4g),871 At 31 March 2025 567,413 686.245 51,475 1.305,133 NET BOOK VALUE At 31 March 2025 14,375,527 837,243 15.212,770 At 31 Marc* 2024 14 645.438 1.016 200 15.661.638 Induded in freth0 property is freehdd laThJ valued at £1,050,000 {2024 - £1.O5Q,OC} which 15 not depreciated. Page 22 nlinued...
SOUL CHURCH LTD Mot•8 to thg Consolldatad Fln•ncl•l Statsmonts- continugd for th• yèar ond8d 31 March 2025 12. FIXED ASSET INVESTMENTS- CHARtr Sh8re¥ in group undertaking MARK VALUE At31 Marth 2025 NET BOOK VALUE At 31 March 2025 At 31 March 2024 Thérè were no investment assets out5id8 the UK The panY'S investments al the balance sheet date in the sharèeaprtal of¢ompgnlès induda th¥ following.. Soul Enterprl8e Tradlng Ltd Registered office.. Soul Church & Nur5•ry, 55 Hartsse Lang, Norwith, NR7 9NT Natura of buginèss.. Tra(fjno Class ol share-. Ordinary holdiig 100 2025 2024 Aggregat6 capital and r8save8 7,100 9,732 Soul EntèrFvi* Tigding Lirniled wa8 incorpcwated on 4 December 2017. Trnding in the subsidiary mpany comrnenced on 1 April 2018. Soul Enterprise Trading Limited is racA)gnis8d as a subsidiary duè to Soul Church 8x•rting control via ovming 100% 01 the ordinary sha9 and voting rights. Soul Enterprise Trading Limited is exempt from lh& rJu1(eMentS ralgling to Ihe auditof aecounts under saction 479A of thè ctmnpanS Act 2006. Soul Enterprise Trading L1rni is included in these c(nsolKlated financial statements. 11 DEBTORS: AMOUNTS FALLING OUE WITHIN ONE YEAR - CHARITY 2025 2024 Tradè ¢ebtors Amounts owed by group underkkings O¢her debtors 61,773 108,326 403,782 52,372 170,099 457 157 Page 23 contffiued...
SOUL CHURCH LTD Notes to the Con¥olldated Financi81 Statements - contlnued forth• y•ar nd 31 Mar¢h 2025 14. CREDITORS: AAIOUNTS FALUNG DUE IMTHIN ONE YEAR . CHARITY 2025 2024 stewardship loan Trade creditors Soeial security and othgr tsxes 0th8r ueditors Accruals and dèfèTrd inco 95.108 18,944 17.456 89,191 48,702 20,236 442.808 228,539 379.250 510,758 829.476 Is. CREDITORS: AMOUNTS FALUNG DUE AFfER ONE YEAR - CHARITY 2025 2024 Stewardship loan 2 324 158 2 437.669 2 324,158 2,437,869 The Stewardship loan indJe$ aggregate amounts of £1,888.45812024- £2.029.0791 which f811 due ofter five years and whh a payable by instalments. Tho loan is s&oJrg¢ by way ol a fixed charge 8gains1 the land and property at Heartse8se Lane. 16. MOVEMEMTIN FUNDS-CHARITY Net movement in funds At 31.3.25 At 1.4.24 Unmtrlct•d fvnd• G•n&ral fijnd 8,781.934 132,127 6,914,061 Rostrictod lund• Restricted 6,458,615 B6,548 6,545,163 TOTAL FUNDS 13,240,549 218,675 13,459,224 Net mo*ThAt in ftmijs. included in tho at)oNe are 88 lollows.. Incoming Resour9 m0vennt In fuThYs expended Transfer8 Unrn$trict•d funds Unrestricted 2.9Cfj.113 12,791.176) 17.190 132,127 Rèstrietsd funds Restricted 288,945 1185.2071 I17,1} 88,548 3,195,058 ,976,383 218,675 Pag6 24 continued...
SOUL CHURCH LTD Note• to the Con*olldatod Flnanclal Statements - contlnued for the year ended 31 March 2025 16. MOVEMENT IN FUNDS . CHARITY . continued Comparatbve for mtsvement in lund5'. movement in fvnds At At 1.4.23 UnroBtrictsd fund¥ General fvnd 5,729,690 1.052.244 6.781,934 Restr4Cted fund? Restrictod 4,240,510 2,218,105 8,458,615 TOTAL FUNDS 9 970 2CK) 3 270 349 13240549 Comparative net movement in fvnds, included in the above as folltrws.. Incoming Resource Resources expgnd$d Movgmgnt In fvnds Trgnsfers Unrn$lrl¢tod fund¥ Unr•stricted 3,296,905 19.723.931) {520,730} 1,052,244 Restrleted funds Restricted 1,704.887 17,3121 S20,730 2,218,105 5,CK)1592 1,731243 3,270.349 A ujrrent year 12 months and prior year 12 months comtsned position is 85 follows-. Net movement In funds At 1.4.23 Transf8rs At 31.3.25 Unrestricted fuThJ• Gen8ral fund 5,729,690 1.887.911 1503,5401 6.914,061 R•otrfct•d fund• Réstrcted 4,240,510 1.801,113 503,540 6,545.163 9 970,2(X) 3 489 024 13459224 thin the r#stn"thd fvnd balan¢8, £6,527,973 relates to the new ¢hurch. P8g$ 25 Continued...
SOUL CHURCH LTD Not•4 to th• Con•olldat•d Fln¥ncl¥l Statemts . contSnued for tho ygar ond•d 31 March 2025 16. MOVEMENT IN FUNDS . CHARITY- contlnued A oJrr•nt #r 12 rnonth$ and prior y*8r 12 month$ ¢ombin¢d net mvemenl in fvThJs. Trndd in tho above ale as follows.. In¢oming R$sourcès Resources èxpÈndèd Mgvement In ftJnd$ Tr5[r5 Unr•$tri¢1Od fvnd¥ UnrestriLtsd 6,203.018 (4,515.1071 1503,5401 1.184,371 Rg¥trfrtgd lund¥ Restn"cted 1.993,632 1192.5191 503.540 2,304.653 8,196,fj50 4,707,626 3,489,024 17. EMPLOYEE BENEFIT OBLIGAnQN8- GROUP The charity operates a d8fin8d contribution pension plars for its employees. The amount recognised as an expense in the peiiod was £21,04512024." £18.3341. The defined eA)ntribution expense is allocatsd to unr•strict8d funds and charitab18 ath'wts'e8. 18. RELATED PARTY DISCLOSURES Soul Foundation ltharity number 11509121 is a rdated party due to having tru%te8s in o)mmon. At I year-end there was an outstanding cre(Jitor balance of £6,60912024 debtor £13.1291. The transacon$ during the period colst ol g¥pense recharges and donations to Soul FoufidatDn. S1 Ent•rwi5e Trag Ltsl Icompany nurnber 110931041 is a wholly owned sthidiary ol &)ul Churth Lbj. At thg year-end there was an outstanding debtor balance tsf £108,326 12024 _ £65.5011. The transactions ¢Juring the p8r40d consist largely ol expense recharges relab.ng to the Soul Cal&. 19. ULTifuTE CONTROLLING PARTY The tharitsble company is controlW by the trust. Page 26 eontinuéd...
SOUL CHURCH LTD Nots# to the Con•olidated Flnanclal Stat•m•nts - c<>ntinupd lorth• y•or •nded 31 March 202S TANGIBLE FIXED ASSETS - GROUP Freghold propety Fixtures & fiits.ngs Motor vohieJè$ Plant & machinery Totsl$ COST At 1 Aptil 2024 Additions Disposals 14,940.W1 2.039 1,483,524 39.9fj4 51,475 62,097 22.370 16.537,997 64,373 At 31 March 2025 14,942.940 1,523.488 51.475 84,467 16,802,370 DEPRECIATION At 1 April 2024 Charge for year Ellmknated on disposal 295.463 271,950 467,324 218.921 51,475 8,127 14,090 20,389 504,961 At 31 March 2025 5e7,413 686,245 51,475 20,217 1,325,350 NET BOOK VALUE At 31 March 2025 14 375,527 837,243 84,250 15.277,020 At 31 March 2024 14,645,438 1.016.200 55,970 15.717 608 Induded in fre9hold property is freehold land valued at £1,050,00012024- £1.050,Q)01 whKh 1$ not deplated. 21. OEBTORS.. AMOUNTS FALLING Due WTHIN ONE YEAR -GROUP 25 2024 TrAde debtors 71.146 401,775 71.146 22. CREDITORS: AMOUNTS FALLING DUE THIN ONE YEAR - GROUP 2025 2024 Stewardship loan Trade creflrtors Social erty an¢J other tsxes Other creditors Aeciuals and dgfarr8d ii¢omè 95,108 21,841 17,456 89,191 50.633 24,112 442.811 228.539 379,894 514,299 835.286 CREDITORS: AMOUNTS FALLING DUE AFfER ONE YEAR . GROUP 2025 2024 Stewardship loan 2.324.158 2,437,689 2,324,1S8 2,437,669 Page 27 conb"nued...
SOUL CHiIRCH LTD Note• to the Consolidated Financial Stat•m•nts . continued for th• yoar •nded 31 March 202S 23. CREDITORS: AhlOUNTS FALLING DUE AFfER ONE YEAR - GROUP- ¢onUnu•d The Stewardship loan includes aggregate amounts of £1.888.45812024- £2,029.0791 whith f811 due after fi¥e years and which 8r8 pay3ble by in3ts1ments. The loan 18 secured by way ol a fi'xed charge against the land and prortY at H8arb8a58 Lan&. 2& ANALYSIS OF NET ASSETS BETWEEN FUNDS- GROUP 2025 Tolal Funds 2024 Tot21 Funds Unrestricted fund Restricted lunds Fi¥ed a55ets Net current assets Non-cutrent liabiltbes 8,731,971 513.346 324.1581 6.545,049 15,277,020 114 513,460 2 324.158 15,717,608 129,6591 2.437.669 6921 159 8545 183 13468322 13250280 Page 28