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## Company Registration No. 07244128 (England and Wales)
Charity Reglstration No. 1138763
Open Heaven Church (A Company limited by guarantee) Trustees’ Report and Unaudited Financial Statements For the year ended 31 August 2023
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## Open Heaven Church
## Contents of the Financial Statements for the year ended 31 August 2023
|Contents|Pages|
|---|---|
|Charity Information|1|
|Report oftheTrustees|2-3|
|Report ofthe Independent Examiner|4|
|Statement ofFinancial Activities|5|
|Balance Sheet|6|
|NotestotheFinancialStatements|7-13|
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## Open[Heaven][Church]
Charity Information for the year ended 31 August 2023
Trustees at 31 August 2023 were: S J Ford D G Howard R A Halse (appointed on 09.03.2023) WG Rasaiah (appointed on 11.10.2023) RACranefield (appointed on 11.10.2023) Trustees who resigned during the year. N J Davis (resigned on 11.10.2023) A Pask (resigned on 12.05.2023) Registered and Principal Office: St Peter's Centre Storer Road Loughborough Leicestershire LE11 5EQ
Reglstered Number: 07244128 (England & Wales)
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## Registered Charity Number:
Independent Examiner:
## 1138763
D | Hotchkiss Wilkes Tranter & Co Limited Brook House Moss Grove Kingswinford West Midlands DY6 SHS
Principal Bankers: NatWest Bank Pic Market Place Loughborough Leicestershire LE11 3NZ
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Report of the Trustees for the year ended 31 August 2023
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## Open Heaven Church
The Trustees who are also directors of the Charity for the purposes of the Companles Act present thelr report together with the financial statements of the Charity for the year ended 31 August 2023. They are also prepared to meet the requirements for a Directors’ Report and accounts for Companies Act purposes.
The accounts have been prepared In accordance with the accounting policies set out in Note 1 to the accounts and comply with the Charity’s goveming document, applicable faw and the requirements of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing thelr accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Objectives and Activities and Achlevements for Public Benefit The objectives of the Church are to advance the Christian faith in Loughborough, the United Kingdom, and the wider world. The vision of Open Heaven is to impact our communities and to see transformation by making disciples who establish heaven on earth. This means bringing heaven's Joy, justice, righteousness, peace healing, hope and life to the people and places around us.
In planning activities for the year, the Trustees have considered the Commission’s guidance on public benefit and, in particular, the specific guidance on Charities for the advancement of religion.
Open Heaven is an Evangelical Church and a member of the Pioneer network of Churches.
## Our Story and Vision
The story of Open Heaven goes back to 1993 on Loughborough University campus, when Ness Wilson arrived as one of ten ‘fired up freshers’ that Christian students had been asking God to send. This group of students missionstayed in Loughborough after graduation to start a Church ‘set up by young people for young people.’ Our ago, we havestatementhad ais ‘Makingspecific callDisciplesto make whodisciples establish and Heavenare committed on Earth.to Sinceinner transformation. Open Heaven started 30 years
Our Values and Goals We want to be a community characterised by the grace God has shown us so we used the word grace to describe our values as a Church: Growth, Relevance, Authenticity, Community and Empowerment (GRACE), We have three overarching goals currently. 1. Be an Apostolic Resource Community. We serve and strengthen Churches within Pioneer and more widely. We send people to create new expressions of church locally and further afield. 2. Be a City of Refuge. A prophetic word for us, rooted in the book of Joshua, encouraged us to intentionally become a place of safety, care and transformation for those seeking refuge. 3. Be an Open Heaven. We push into prayer and worship with our 24-7 prayer room and monthly gatherings called Upper Room. We love growing in our awareness of God’s presence and know that when heaven touches earth, wonderful things happen!
## Financial Review
income from members has increased compared with the previous year £297,088 (2022: £254,393) total income also increased compared to the previous year £408,092 (2022: £300,934). Total expenditure has increased due to the Charity funding more event activities than in the previous year and also increasing the Staff working days. The statement of financial activities shows net income on unrestricted funds of £64,818 (2022: £1,722) and overail net income of £64,818 (2022: £1,722). All restricted funds are held In the acquisition value of the St Peter’s premises, with the reserve for the future maintenance requirements of the building now being held by other partners.
Total reserves at 31 August 2023 stood at £840,577 (2021: £775,759) including £485,124 (2022: £485,124) restricted funds.
The charity benefited this year from increased Gift Aid Tax rebate totalling £101,071 (2022: £39,682) due to a backdated claim, in future years the trustees would expect the recovery to be at normal levels.
## Reserves
The Trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets (‘the free reserves’) held by the Charity should be sufficient to cover a minimum of three months’ salaries. The current level of free reserves Is £227,651 which is in line with this policy.
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## Risk Management
## Open Heaven Church Report of the Trustees for the year ended 31 August 2023 (Continued)
All major insurable risks are subject to normal Churches and employer's insurance. Annual reviews of risk, such as health and safety are undertaken by the Trustees in conjunction with employees and volunteers.
## Structure, Governance and Management
Open Heaven Church Is a Charitable Company limited by guarantee, incorporated on 5 May 2010 and registered as a Charity on 14 June 2007. The organisation was formerly a Charitable Trust by the same name and the company took responsibility of its activities on 1 April 2008. The company was established under a Memorandum of Association which established the objects and powers of the Charitable Company and is govemed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.
## The Board
We appoint Trustees on an irregular basis, when doing so we look for two criteria:
1. A good knowledge of the Charity and its purposes. 2. Appropriate skills and competencies to complement existing strengths. To support Trustees existing competencies, we refer them to web based training materials appropriate to their role.
## Statement of Trustees’ Responsibilities
The Trustees (who are also directors of Open Heaven Church for purposes of company law) are responsible for preparing the ‘Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charitable Company and of the incoming resources and application of resources, including the income and expenditure, of the Charitable Company for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- - observe the methods and principles in the Charities SORP 2019 (FRS 102); - make judgements and estimates that are reasonable and prudent: - state whether UK Accounting Standards have been followed, subject to any material departures disclosed and explalned in the financial statements;
- prepare the financial statements on the going concem basis unless It is inappropriate to presume that the Charitable Company will continue in operation. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charitable Company and enable them to ensure that the financial statements comply with the Companies Act 2008. They are also responsible for safeguarding the assets of the Charitable Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the Board of Directors and Trustees on ..12.05.2024....... and signed on its behalf by:
S J Ford - Chair of Trustees
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## Independent Examiner’s Report to the Trustees of Open Heaven Church
! | ; report to the Charity Trustees on my examination of the accounts of the Company for the year ended 31 August 2023 which are set out on pages 5 to 13.
## Responsiblllties and Basls of Report
As the Charlty’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 2008 (‘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, | report in respect of my examination of your Charitable Company’s accounts as carried out under section 145 of the Charitles Act 2011 (‘the 2011 Act’). In carrying out my examination | have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## Independent Examlner’s Statement
i have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe that In any material respect:
- . accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
- ° the accounts do not accord with such records; or
- ° the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts glve an ‘true and fair view’ which is not a matter considered as part of an independent examination; or
- ° the accounts have not been prepared with the methods and principles of the Statement of Recommended Practice for accounting and reporting by Charities (applicable to Charitles preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Iraland (FRS 102)).
| 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.
## D ! Hotchkiss FCA FCCA
Wilkes Tranter & Co Limited Chartered Accountants Brook House Moss Grove Kingswinford West Midlands DY8 SHS
Date: 29.04.2024
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## Open Heaven Church
Statement of Flnanclal Actlvities (Including Income and Expenditure Account) for the year ended 31 August 2023
|Income|Notes|Unrestricted
Funds
£|Resiricted
Funds
£|Total
Funds
2023
£|Total
Funds
2022
£|
|---|---|---|---|---|---|
|Income and endowments from:||||||
|Donationsand legacles
Charitable activities
GittAid
Investment income (interest)|3
4|297,088
7,047
101,071
2,886|-
-
-
-|297,088
7,047
101,071
2,888|254,393
6,728
39,682
131|
|Total Income||408,092|-|408,092|300,934|
|Expenditure on:||||||
|Charitable activities|5|338,725|-|338,725|297,212|
|Governance costs||||||
|Professional fees
Independentexamination||2,249
2,300|-
-|2,249
2,300|-
2,000|
|Total Expenditure||343,274|-|343,274|299,212|
|Netincome||64,818|-|64,818|1,722|
|Reconciliation offunds||||||
|Balance at
1 September 2022||290,635|485,124|775,759|774,037|
|Totalfundscarriedforward||355,453|485,124|840,577|775,759|
All income resources and resource expended derive from continuing activities.
The Church has no recognised galns or losses for the year other than the results above.
The notes on pages 7 to 13 form an integral part of these financial statements.
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## Open Heaven Church
## Balance Sheet at 31 August 2023
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|||||||||
|---|---|---|---|---|---|---|---|
|2023|2022|
|Notes|£|£|£|£|
|Fixed|assets|
|Tangible|fixed|assets|9|612,926|615,494|
|Current assets|
|Debtors|10|15,195|64,894|
|Cash|at|bank|and|in|hand|222,061|104,047|
|Creditors|(amounts|falling|237,256|168,941|
|due within one year)|11|(9,605)|(8,676)|
|Net current assets|227,651|160,265|
|Not assets|840,577|775,759|
|The|Funds|of the|Charity:|
|Restricted|funds|18|485,124|485,124|
|Unrestricted|funds|
|Unrestricted|income funds|16|355,453|290,635|
|Total|Charity funds|840,577|775,759|
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For the year ended 31 August 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
## Directors’ and Trustees’ responsibilities:
* The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with Section 476; and
* The Directors and Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
The financial statements were approved by the Board of Directors and Trustees on ..12,.05,24... and signed on its an by:
## S J Ford - Trustee
The notes on pages 7 to 13 form an integral part of these financial statements.
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Open Heaven Church
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## 1
## Notes to the Financlal Statements for the year ended 31 August 2023
## General information
Open Heaven Church is a company, limited by guarantee, Incorporated in England and Wales under the Companies Act 2006 and Charities Act 2011. The address of the registered office is provided in Reference and administrative details. Details of the Charity’s operations are provided in the Report of the Trustees. 2 Accounting policies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## Basis of preparation
The Charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared, under the historical cost convention in accordance with applicable accounting standards and follow the recommendations in Statement of Recommended Practice ‘Accounting and Reporting by Charities’ (SORP 2019 (FRS 102)) and comply with these Charities (Accounts and Reports) Regulation _ 2005 issued under the Charities Act 2011. These financial statements have been prepared in compliance with provisions of FRS 102, Section 1A, ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland.’
Fund accounting policy Unrestricted income funds are general funds that are available for use at the Trustees’ discretion in furtherance of the objectives of the Charity.
Restricted funds are those donated for use in a particular area or for the specific purposes, the use of which is restricted to that area or purpose.
Designated funds are unrestricted funds set aside at the discretion of the Trustees for specific purposes. Further details of each fund are disclosed in Note 16. Income Voluntary income including donations and grants that provide core funding or are of a general nature is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Donated services or facllities These are included in incoming resources (with an equivalent amount in resources expended) where the benefit is reasonably quantifiable, measurable, and material. Their estimated value is based upon the nature of the service. Income from tax reclaims are included in the statement of financial activities at the same time as the gift to which they relate.
Investment income is recognised on a receivable basis.
Income from charitable activities includes income recognised as eamed (as the related goods or services are provided) under contract.
## Expenditure
Liabilities are recognised as soon as there is a legal or constructive obligation committing the Charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for [ts beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
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## Open Heaven Church
## Notes to the Financtlal Statements for the year ended 31 August 2023
## 2 Accounting pollcies (continued)
Grants payable are payments made to third parties in the furtherance of the charitable objectives. Where the Charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised once the recipient of the grant has provided the specific service or output.
Grants payable without performance conditions are only recognised In the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the contro! of the Charity.
Provisions for grants are made when the intention to make a grant has been communicated to the reclpient but there Is uncertainty about either the timing of the grant or the amount of grant payable.
## Support cost
As a small Charity with a single significant activity, the allocation of support costs across activities is not applicable.
## Governance costs
ofGovernance costs include costs ofthe preparation and examination ofthe statutory accounts, the costs Trustee meetings and the costs of any legal advice to Trustees on governance or constitutional matters.
Fixed assets Assets are capitalised if thelr useful economic life exceeds one year. Individual fixed assets costing £500 or more are initially recorded at cost.
## Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Fixtures, fittings and equipment 33 1/3% straight line basis Plant and machinery - other equipment 12.5% straight line basis Plant and machinery - stage equipment 20% straight line basis Plant and machinery - St Peter's kitchen equipment 10% straight line basis Land and buildings Not depreciated
Fixed assets are included in the balance sheet at revalued amounts.
Operating leases Rentals payable under operating leases are charged in the statement of financial activities on a straight line basis over the lease term.
Pensions The Charity operates a defined contribution pension scheme for its employees.
## Taxation
As a Registered Charity, the company is exempt from income and corporation tax as all of its income has been applied for charitable purposes.
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## Open Heaven Church
## Notes to the Financial Statements for the year ended 31 August 2023
## 3 Donations and legacies
|Donations and legaciesand legacieslegacies|||||
|---|---|---|---|---|
|Donations and legaciesand legacieslegacies|Unrestricted
Funds
£|Restricted
Funds
£|Total Funds
2023
£|Total Funds
2022
£|
|Appeals and donations
One offdonations|251,798
45,290|-
-|251,798
45,290|241,012
13,381|
||297,088|-|297,088|254,393|
4 Income from charitable activitles
|Christian misslon and social action|Unrestricted
Funds
£|Restricted
Funds
£|Total Funds
2023
£|TotalFunds
2022
£|
|---|---|---|---|---|
|Community activities
Women’s Ministry
Youth
Otherchurch events|700
-
-
6,347|-
-
-
-|700
-
-
6,347|680
480
380
5,188|
||7,047|-|7,047|6,728|
|Detalls ofcharitable activities|||||
||Direct
Costs
£|Support
£|Total Funds
2023
£|Total Funds
2022
£|
|Employment costs
Church activities
Subscriptions
Giftsand donations
Establishmentcosts
Book-keeping
Printing, postageand stationery
ITcosts
Traveland subsistence
Advertising and promotion
Bankcharges
Depreciation|200,885
54,531
-
~
-
-
-
-
-
-
-
-|-
-
6,667
24,580
23,586
10,778
1,624
2,135
4,292
2,740
2,870
4,037|200,885
54,531
6,667
24,580
23,586
10,778
1,624
2,135
4,292
2,740
2,870
4,037|183,462
33,395
6,334
21,372
22,234
11,856
472
2,407
4,239
3,672
2,076
5,693|
||255,416|83,309|338,725|297,212|
## 5 Detalls of charitable activities
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Open Heaven Church
Notes to the Financial Statements for the year ended 31 August 2023
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## 6 Trustees’ remuneration and expenses
No Trustee or person related or connected to them received any remuneration or expenses from the Charity during the year.
## 7 Net income
## Depreciation of tangible fixed assets
|2023|2022|
|---|---|
|£|£|
|4,037|5,893|
## 8 Employees’ remuneration
The average number of persons employed by the Charity (including Trustees) during the year was as follows:
|The averageaverage number of personsof personspersons employed by the Charity (including
follows:|(including Trustees) during|during the year waswas|
|---|---|---|
||2023|2022|
||No.|No.|
|Charitable activities
Averagenumberofstaffemployed(headcount)|5.30
13.00|5.63
15.00|
|The aggregate payroll costs ofthese persons wereas follows:|||
||2023|2022|
||£|£|
|Wagesand salaries
Social security
Pension costs|169,631
8,398
5,495|186,004
7,735
5,863|
||183,524|179,602|
No employees received emoluments of more than £60,000 during the year (2022 - Nil).
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Open Heaven Church
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## Notes to the Financia! Statements for the year ended 31 August 2023
## 9 Fixed assets
||Fixed assets|||||
|---|---|---|---|---|---|
||Fixed assets|Freehold
Interest Inland|Plantand
machinery|||
||Cost
At
1 September2022
Additions|and buildings
(including
heritage assets)
£
607,400
-|(Including
motor
vehicles)
£
18,237
-|Fixtures,
fittings and
equipment
£
17,184
1,469|Total
£
642,821
1,469|
||At 31 August2023|||||
|||607,400|18,237|18,653|644,290|
|)||||||
||Depreciation
At 1 September2022
Chargefortheyear|-
-|13,250
1,115|14,077
2,922|27,327
4,037|
||At31 August2023|-|14,365|16,999|31,364|
||Netbookvalue|||||
||At31 August2023|607,400|3,872|1,654|612,926|
||At 31August2022|607,400|4,987|3,107|615,494|
|10|Debtors|||
|---|---|---|---|
|||2023|2022|
|||£|£|
||Otherdebtors
Prepayments and accrued income|653
14,542|-
64,894|
|||15,195|64,894|
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## Notes
## Open Heaven Church to the Financial Statements for the year ended 31 August 2023
|11.|Creditors (amountsfallingdue
within one year)|||
|---|---|---|---|
|||2023|2022|
|||£|£|
||Tradecreditors
Othercreditors
Accrualsand deferred income|-
8,129
3,476|4,701
1,975
2,000|
|||9,605|8,676|
12 Members’ liablilty
The Charity Is a private limited company by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the Charity in the event of liquidation.
## 13. Related parties
Donations totalling £9,906 were made to the Charity by 4 Trustees during the year (2022: £10,040 by 4 Trustees),
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## 14 Controlling entity
The Charity is controlled by the Trustees.
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## Open Heaven Church
## Notes to the Financial Statements for the year ended 31 August 2023
## 15 Analysis of funds
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|---|---|---|---|---|---|---|
|At|1|Sept.|Incoming|Resources|At 31Aug.|
|2022|resources|expended|_|Transfers|2023|
|Designated|[Funds]|£|£|£|£|£|
|Church|Plant Fund|6,600|-|-|3,300|9,900|
|General|Funds|
|Unrestricted|Income fund|284,035|408,092|(343,274)|(3,300)|345,553|
|Total|Unrestricted|
|Income funds|290,635|408,092|(343,274)|-|355,453|
|Restricted|Funds|
|Shared|Church|Building|
|Project|485,124|-|-|-|485,124|
|Total|Restricted funds|485,124|~|-|-|485,124|
|775,759|408,092|(343,274)|-|840,577|
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Unrestricted funds are used for any purpose deemed sultable by the Charity in pursuance of its main objects, including contributing to any restricted funds held by the Charity.
Designated funds have been put aside to fund Church plant from general funds as part of the Trustees strategy to support the development of new Churches,
Shared Church Bullding Project - these are incoming resources restricted to funding the Charity’s proportion of capital costs and operating expenses conceming the Church Property Share Agreement in respect of St Peter's Church, Loughborough described elsewhere in these accounts.
## 16 Net assets by fund
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||||||||
|---|---|---|---|---|---|---|
|Unrestricted|Restricted|Total|Funds|=|Total|Funds|
|Funds|Funds|2023|2022|
|£|£|£|£|
|Tangible|assets|127,802|485,124|612,928|615,494|
|Current assets|237,256|-|237,256|168,941|
|Creditors|(amounts|falling|due|
|within|one|year)|(9,605)|-|(9,605)|(8,678)|
|Net assets|355,453|485,124|840,577|775,759|
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