• ASCOT LIFE CHURCH IA Charitable Company Limited by Guarantee} TRUSTEES'/DIRECTORS' ANNUAL REPORT and FINANCIAL STATEMENTS for the year ending 31" MARCH 2024 Registered Charity Number 1140436 Registered Company Number 07411973 175 New Road Ascot Berkshire SL5 8PX
TRUSTEES, AND DIRECTORS, ANNUAL REPORT & FINANCIAL STATEMENTS Year ending 31" March 2024 Contents GENERAL INFORMATION.......................................................................... Our Purposes and Activiti¢s......................................................................... Aims............. Activities Our Voluntecrs.......................................................................................... Achievements and Performance................... . Financial Review............-...-...........-.............-........-...-..-............................... Investment powers and policy.......-.............................................................. Reserves Policy and Going Concern............................-..........-.................... Structure, Governance and Management..................................................... Reterence and Administrative Detai15........................................................ 10 INDEPENDENT EXAMtNER'S REPORT.................................................. 12 Respective Responsibilities of Trustees and Examiner.............................. Basis of Indepcndent Examiner's Report .. Independent Examiner's Siatement.........-..-.....-......................................... 13 STATEMENTS OF FINANCIAL ACTIVITIES......... . . 14 12 Summary of Income and Expenditure........................................................ 14 BALANCE SHEET........................................................................................ 15 NOTES TO THE FINANCIAL STATEMENTS.... 17 Accounting Policies.................................................................................... 17 Legal SLitys ofthe Charity......................................................................... 19 Income................. .20 Expenditure . Fixed Assets...............................................-............................................... 22 21 Debtor5 ... .22 Creditors.. Amounts Falling Due Within One Year..-.-......-........................ 22 Analysis of Net Assets by bund.................................................... .22 Net Movement in Funds..... .23 Trust¢cs. Staff and Relatcd Parties Remuneration and Benefits................ 24 Related Charities . Financial Commitments.......... .25 Independent Examination.....................................-....-..-............................. 25
TRUSTEES, AND DIRECTORS, ANNUAL REPORT & FINANCIAL STATEMENTS Year ending 31" March 2024 GENERAL INFORMATION TRUSTEES / DIRECTORS Mr P. Draper Chairman (until 31/12/231 Interim Treasurer Mr P. Newman Chairman (from 01/01/24) Mr P. Foster Treasurer Ms N. Gwati Mrs S. Hale Ms E. Ward lunti125/03/24) ELDERSICOMPANY MEMBER5 Mr S. Argent Mr P. Draper Mr. R Perrins Elder Elder Elder BANKERS Barclays Bank PLC I, Churchill Place London E14 5HP INDEPENDENT EXAMINER Mr Philip Mount 54, Dedworth Road Windsor Berkshire SL4 SAY
TRUSTEES, AND DIRECTORS, ANNUAL REPORT & FINANCIAL STATEMENTS Report of the Trustees/Dirertorsfor the yeur ending 31st March 2024 The Trustees, who are also the Directors of the charity for the purposes of the Companies Act 2006, present their report together with the financial statements of the charity for the year ending 31st March 2024, which are also prepared to meet the requirements for a Directors, Report and Accounts for Companies Act purposes. The Trustees have prepared the financial statements to comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 2015, updated l JanLtary 20191. Our Purposes ond Activities The purposes of the charity are.. to advance the Christian faith in accordance with the Statement of Beliefs in the Memorandum and Articles of Association- to fulfil such other purposes which are exclusively charitable according to the law of England and Wales and are connected with the work of the charity for the public benefit in and around Ascot and in such other parts of the United Kingdom or the world as the trustees may from time to time think fit. Aims The Church's main aim is to be 'a church that responds to and shares the love of God. following a New Testament pattern whilst engaging with our 21, Century culture. based on the values of Worship, Community, Transformation, Serving and Mission. Ascot Life Church IALCI has the general aim of contributing to the lives of people of all ages from Ascot and the surrounding areas by cornmunicating the Christian faith to them in ways they can relate to, and by involving as many people as possible in Christian worship and in the practical outworking of the Christian faith. Everyone is welcome to participate in the life of the church and to benefit from being part of this *aith communitv. Activities The Church's Sunday meetings have a contemporary feel reflecting the relevance of faith in Jesus Christ to modern living. These meetings include a time of praise and worship followed by Bible- based teaching. During the week, small groups called 'Life Group5, meet with the aim of encouraging those involved in the life of the church to develop a deeper relationship with Christ, to experience his life-transforming power and to Share their faith with others. Online mornin8 prayer meetings using Zoom video conferencing software are also held on weekdays. Ascot Life Church 15 a public benefit entity and the Trustees/Director5 regard serving the surrounding community as an important aspect of the church's activity. In ensuring that this remains a significant feature of the life of the church they have considered the Charity
TRUSTEES, AND DIRECTORS. ANNUAL REPORT & FINANCIAL STATEMENTS Commission's guidance on public benefit, including the guidance 'Public benefit.. running a charity IPB2}'. Our Volunteers Most of the activities of the church are dependent on volunteers with the church's Staff team playing a complementary facilitating and organising role. The church would not function effectively without the contribution of volunteers and a significant proportion of the regular participants in the life of the church play some kind of voluntary role. An assessment of the number of people involved in volunteer roles during 2023-24 identified around 103 such contributor5 to the life of the church. around 48% of adults or teenagers who regularly participate in church life. Achievements ond Performance The church meet5 on Sunday mornings at Ascot Racecourse, which Pfovides a largervenue than the church buildings to accommodate growth in the number of people participating in the life of the church over the last few years. Throughout the year, several Bible-ba5ed teaching series were presented aimed at helping people of all backgrounds to understand the message of the Bible better enabling them to grow in their faith. in their relationship with God and with one another. In the spring of 2023, the church worked through a teaching series in the first half of I Corinthians to enable the church to see the gracious character of God towards his church and consider how the gospel applies to real-life issues such as conflict. insecurity, sexuality and relationship5. The church then followed a short summer series in the Old Testament IOTI book of Proverbs. to discover biblical wisdom on work, friendships, money and conversation. During the autumn of 2023 the church re-entered the book of I Corinthians for part 2 of the Spring series. Working through the latter part of the letter allowed church member5 to appreciate the richne55 of the gospel through seeing it applied to issue5 such as idolatry. gender relations. diversity, community, and even death itself. The overwhelming theme of these two series was the power of the gospel to completely transform broken lives and communities. Over the Christmas season, a Family Service and Carol Service were held celebrating the peace that Christmas offers to us if we'll believe it'5 me55age, helping people f rom both the church and the surrounding community to connect with God by responding to the good new5 of the- gospel wherever they may be in their journey of faith. Copies of Luke's Gospel and short evangelistic books were also distributed to help newcomers in particular, to continue their faith journey. From January 2024 until Easter, a teaching series called 'Radiant People, was brought, inspired by Jesus, description of his followers as 'the light of the world, (Matthew S.141. Each week, church members were encouraged to see that Jesus, transformative work in our lives will draw those around to consider his claims. On the final two weeks of March. the church celebrated Palm Sunday, Good Friday and E35ter Sunday. with appeals made to seekers to consider the gospel's life-transforming offer.
TRUSTEES, AND DIRECTORS, ANNUAL REPORT & FINANCIAL STATEMENTS As a continued investment in the life and growth of the church, a staff member was taken on as a Church and Community Worker in August 2023. after having served as an intern for the previous year. This staff member took on variou5 responsibilities, two prirnary ones being the co-ordination the church's student ministry, and the development of a community outreach initiative. On top of this, another intern wa5 taken on in the summer of 2023. This intern made an excellent contribution to church life, particularly in the areas of children's work, students, work and media. Their work on content and media wa5 particularly helpful when the previous contracted Content Creative finished their work for ALC in January 2024. In October 2023, another intern finished their work with us after making a substantial contribution to the church's children's ministry. At the close of the previous financial year, one of the Church's Elders followed a call to move down to Exeter to pastor a church there. This left a team of three Elders who remained in place during 2023-24, one of these being a full-time remunerated staff member. In December 2023 new elder was proposed to church members. a proposal that was affirmed by members in February 2024, and then implemented in April 2024. In September 2023 the ALC Elders officially took on transitional leadership for three years of the Brook Church Bagshot following their pastor's retirement. This was with the aim of reinvigorating and renewing the church after numerical decline going back some years. This first year of transitional leadership consisted of resourcing their Sunday meetings with preachers, worship leaders and hosts, whilst building relationship with the church members with the aim of cultivating a new vision and strategy for growth. During 2023-24, the number of those regularly involved in church life was around 250 adults and teenagers with an additional 60 or so children aged 12 and under. Attendance at the main Sunday morning meetings typically ranges between 180-230 people of all ages. The church remains committed to supporting Christian organisations and ministries both in the UK and overseas and provides grants to Commission Apostolic Trust, TEAR Fund, Wycliffe Bible Translator5 and Operation Mobilisation. Benevolent donations are also made by the church to support the welfare of people experiencing financial hardship. Financial Review During the year ended 31, March 2024 the church received a total of unrestricted income from donations, Gift Aid and bank interest amounting to £250,112. Income tax recovered on unrestricted Gift Aid donations was £44,157 Total unrestricted expenditure for the year was £243,901. Total restricted income was £5,244 including income tax recovered on restricted Gift Aid donations amounting to £269. £7,241 was expended from restricted funds. Investment powers and policy The Trustees/Directors aim to employ available f unds towards the charitable aim5 of the church and towards enhancing the viability of the church's work for the future. In view of this policy and the relatively short time between the receipt of funds and their expenditure. all funds are held in cash. Funds not immediately required are held on deposit. Due to the prevailing economic
TRUSTEES, AND DIRECTORS, ANNUAL REPORT & FINANCIAL STATEMENTS circumstances. deposit rates were low so interest gained on such funds was correspondingly reduced. Funds Funds are allocated to the activities of the church from donations and from Gift Aid tax refunds. 50.3% of unrestricted income was allocated to staff costs to enable the activities of the church to be implemented effectively, with a further 16.3% used to cover the running costs of the church building5 and rental of premises for Sunday morning meetings. 11.8% of unrestricted income was allocated to grants for the support of or8anisations and individuals within the UK and oversea5 that are directly involved in Christian work and whose objectives the Elders and Trustees consider to be compatible with the charitable aim5 of the church. The remaining unrestricted funds were allocated to the general operating costs of the church. Restricted funds in response to appeals to meet specific needs or where donors have specified the purpose for which the funds should be used are allocated accordingly. Reserves Policy and Going Concem The level of activity of the church is dependent upon voluntary donations from church members and attenders together with tax reclaimed on donations made under the Gift Aid scheme. To adequately cover the month-by-month operatin8 cost5 of the church, the Trustees/Directors consider that the amount of unrestricted funds that should be immediately available at all times as a reserve should equate to at least two ry7onth5 of Core Monthly Operating Costs ICMOCI, which are defined as essential expense5 such as those for salaries, utilities, essential property maintenance, office costs, essential travel and necessary professional service5. This level of reserves is calculated each year after approval of the annual budget and is stress-tested against the maximum liabilities of the church including such items as statutory staff redundancy payments and contractual obligations such as venue hire. This level of reserves is considered adequate by the Trustees/Directors as it would be possible, although not desirable, to reduce the level of activity of the church and its corresponding outgoings in various ways should reserves fall to such a level. Should available funds fall below two months CMOC. fund-raising appeals and cost-reduction plans affecting non-core costs would be prepared and implemented if necessary to maintain reserves above the set threshold. The church's general fund balance has been maintained at a good level such that the Trustees/Directors considered that it was important to invest more of the Church'5 funds in employing and developing staff to enable the work of the church to be enhanced. The budget for 2023-24 was therefore intentionally structured to enhance the staff team and to provide staff training with the expectation that expenditure would exceed income thereby reducing the general fund balance. At the end of the f inancial year 2023-24, the reduction in the general fund was actually less than had been budgeted so the Trustees/Directors have no immediate concerns regarding the financial viability of the church as a going concern for the foreseeable future. Restricted funds are allocated for amounts raised in response to appeals to meet specific needs or where donors have designated their contributions for specific purposes. Most the church's restricted funds active during 2023-24, were used for the support of Christian mission work, to help those in need and to support an annual youth camp event.
TRUSTEES. AND DIRECTORS, ANNUAL REPORT & FINANCIAL STATEMENTS Structure. Governance and Management Governing Document The charity'5 8overnin8 document 15 Its Memorandum and Articles of Association, constituting a Charitable Company Limited by Guarantee, as defined in the Companies Act 2011. Appointment of New Trustees As Set out in the Articles of Association, the charity may by ordinary resolution appoint a pef son who is willing to act as a trustee. providing that they also become a director of the Charitable Company and that they subscribe to the church's Statement of Beliefs. Trustee Induction and Training New trustees are provided with terms of reference def ining their role and are briefed by the existing Trustees on the nature of their responsibilities. They are also encouraged to review the information on the role of trustees available on the Charity Commission website and are encouraged to attend relevant external training events that will facilitate the undertaking of their role. Organisation At the outset of the period covered by this report there were six Trustees comprising one church Elder and five church members. In December 2023 the church Elder stepped down as a Trustee, reducing the number to 5. The Trustees also serve as Directors of ALC a5 a Charitable Company. The Trustee5/Director5 take prime responsibility for ensuring that Ascot Life Church fulf ils it5 charitable objects and legal responsibilities and meet at least three time5 a year. For the period covered by this report, the church had three Elders who are also the Company Members. The Elders meet bi-weekly and have responsibility for the spiritual oversight of the church and oversee the day-to-day running of the church. Under the oversight of the Elders, the responsibilities for running various church activities and ministries are further delegated to staff member5 and to volunteer activity and group leaders. The church had six employed members of staff at the start of the period covered by this report-. one Elderlminister, one staff member covering 3 combined Youth Work and Operations role, part-time Children'5 Worker, one Ministry Trainee, two interns. One member of the church also performed contract work as a Content Creative. At the end of thi5 period there was six employed members of staff= one Elderlminister, one staff member covering a combined Youth Work and Operations role, a part-time Children's Worker, one MinistryTrainee, a Church and Community Worker la previous intern). and a new intern. The second previous intern departed in October 2023, and the contracted Content Creative also finished work for the church in January 2024. Financial matters are dealt with by a treasury team co-ordinated by the Treasurer who provides report5 to the Trustee5/Directors and to the Elders. Due to ill-he31th. the treasurer role was covered in part by an interim treasurer {Elderl to ensure continuity and quality during this reporting period.
TRUSTEES, AND DIRECTORS. ANNUAL REPORT & FINANCIAL STATEMENTS Salaries and other staff benefits are agreed by the Trustees/Directors who conduct an annual review of staff remuneration taking account of price and wage inflation and the responsibilities of each role. They also periodically review available information on remuneration and benefits for comparable roles. Related Parties and Co-operation with Other Organisations None of the Trustees receive remuneration or other benefit, from their work with the charity. Any contractual relationship or similar connection between the charity and a trustee of the charity, its management personnel or a related party must be disclosed to the full board of trustees. In the current year no such related party contracts Of transactions were reported.
TRUSTEES. AND DIREcfoRS' ANNUAL REPORT & FINANCIAL STATEMENTS Reference and Administrative Detoils The charity is registered under the name 'A5COt Life Church,. Registered Charity Number.. 1140436 Registered Company Number.. 07411973 (England and Wales Registered Office.. Ascot Life Church, 175 New Road, Ascot, 8erkshire, SLS 8PX TrusteeslDirectors: Mr P. Oraper (until 311121231 Mr P. Foster Ms N. Gwati Mrs S. Hale Mr P. Newman Ms E. Ward luntil 251041231. Property Trustee: Baptist Union Corporation Limited Company Members and Key Management Personnel.. Mr S. Argent Mr P. Draper Mr. R Perrins. Trustees'/Dirertors' Responsibilities in Relatlon to Flnanclal Statements The charity Trustees Iwho are also the Directors of Ascot Life Church for the purposes of company lawl are responsible for preparing a Trustees, Annual Report and Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare financial statements for each financial year that 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 year. In preparing the 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,. make judgements and estimates that are reasonable and prudent,. state whether applicable UK accounting 5tandard5 have been followed, subject to any material departures disclosed and explained in the financial statements,. prepare the financial statements on the going concern 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 to enable them to ensure that the financial statements comply with the Companies Act 2006. 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 irregularitie5. The Trustees are responsible for the maintenance and integrity of the corporate and f inancial io
TRUSTEES, AND DIRECTORS, ANNUAL REPORT & FINANCIAL STATEMENTS information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from le8islation in other jurisdictions. Statement as to Disclosure to Our Independent Examiner In so far as the Trustees are aware at the time of approving our Trustees'/Directors' Annual Report.. there is no relevant information. bein8 information needed by the Independent Examiner in connection with preparing his report. of which the charitable company's Independent Examiner is unaware, and the Trustees/Directors, having made enquiries of fellow Directors and the church's Independent Examiner that they ought to have individually taken, have each taken all Steps that he/she is obliged to take a5 a Director in order to make themselves aware of any relevant audit information and to establish that the Independent Examiner 15 aware of that information. Independent Examiner The Independent Examiner, Mr Philip Mount, will continue his appointment as per his letter of engagement. This report has been prepared in accordance with the Statement of Recommended Practice.. 'Accounting and Reporting by Charities, and in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small entities. 8y order of the board of Trustees/Directors Signature.. TrusteelDirector Name., Date.. li
TRUSTEES, AND DIREcfoRS' ANNUAL REPORT & FINANCIAL STATEMENTS INDEPENDENT EXAMINER'S REPORT Independent Examiner's Report to the Dirertors/ Trustees of Ascot Lift Church I report on the accounts of the cornpany for the year ended 31" March 2024, which are set out from Page 14. Respective Responsibilities of Trustees ond Examiner The Trustees (who are also the Directors of the company for the purposes of company lawl are responsible for the preparation of the accounts. The Trustees consider that an audit 15 not required for this year under section 144121 of the Charities Act 2011 (the 2011 Act) and that an Independent Examination 15 needed. Although the charity's gross income exceeded £250,000 by a small margin, the level of assets held was well below the £3.26M threshold that requires an audit. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to.. examine the accounts under section 145 of the 2011 Act,. to follow the procedures laid down in the general Directions given by the Charity Commission under section 14515llbl of the 2011 Act,. and to State whether particular matters have come to my attention. Basis of Independent Examiner's Report My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accoLtnts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view, and the report is limited to those matters set out in the statement below. 12
TRUSTEES, AND DIREcfoRS' ANNUAL REPORT & FINANCIAL STATEMENTS Independent Examiner s Statement In connection with my examination, no matter has come to my attention: 11} which gives me reasonable cause to believe that in any material respect the requirements.. to keep accounting records in accordance with section 386 of the Companies Act 2006,. and to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principle5 of the Statement of Recommended Practice.. Accounting and Reporting by Charities have not been met; or (2J to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Signed.. Mr Philip Mount TD AFA MIPA 54, Dedworth Road Windsor Berkshire SL4 SAY Dated.. // 13
TRUSTEES, AND DIRECTORS, ANNUAL REPORT & FINANCIAL STATEMENTS STATEMENTS OF FINANCIAL ACTIVITIES For the Year Ending 31. March 2024 (including summary income and expenditure account) Summary of Income ond Expenditure Unrestrirted Restricted Total funds funds fund5 Year ending Mar.24 Mar.Z4 Mar-24 Total funds Year ending Mar-23 Notes INCOME & EXPENDITURE Income from.. Donations and legacies Investments 249,802 310 5,244 255.046 310 236,199 55 3b Total Income 250,112 5,244 255,356 236,254 Expenditure on". Charitable activities 4a&b 243,901 7,241 251,142 250,556 Total Expenditure 243,901 7,241 251,142 250,556 Net incomellexpenditurel 6,211 11,9971 4,214 114,3021 Transfers between funds Net movement in funds 6.211 11.9971 4,214 114,3021 Reconciliation of lunds: Total funds brought forwar(I 58.751 7.195 65.946 80,248 Total funds carried forward 64,962 5,198 70,160 65.946 14
TRUSTEES, AND DIRECTORS, ANNUAL REPORT & FINANCIAL STATEMENTS BALANCE SHEET As at 31" March 2024 Total fund5 Mar-24 Total funds Mar-23 Notes Fixed Assets Tangible fixed assets Total fixed assets Current A55etS Debtors 9,385 61,666 71.051 9,945 58,513 68,458 Cash at bank and in hand Total Current Assets Liabilities Creditors.. Amounts falling due within one year Net current assets or liabilities 18911 70,160 12,5121 65,946 Total as5et5 less current liabilities 70,160 65,946 Total net assets or Ilabllities 70,160 65,946 The funds of the charity: Restricted income funds Unrestricted funds 5,198 64,962 7.195 58.751 T¢tal Charlty Funds 70,160 65,946 15
TRUSTEES, AND DIRECTORS, ANNUAL REPORT & FINANCIAL STATEMENTS For the period ending 3110312024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors'nrustees, re5pon5ibilities.. the Members have not required the charitable company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companie5 Act; the Directorsnrustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accountin8 records and the preparation of accounts,. These accounts have been prepared in accordance with the provisions applicable to companies Subject to the small companies, regime. The financial statements were approved by the Board of Tru5tee5/Directors on.. Z i: L¢....... ..........2024 and were Signed on its behalf bv.. Director's Name.. Director's Name.. . Signed. Signed.. 16
ASCOT LIFE CHURCH NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31$1 March 2024 Accounting Policies The following accounting policies have been used in the preparation of the financial statements: Basis of Preparation The f inancial statements have been prepared in accordance with 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 IFRS 1021 leffective l January 2015, updated l January 20191- (Charities 50RP IFRS 10211, the Financial Reporting Standard appSicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The accounts are prepared on an accruals basis and include income and expenditure as they are earned or accrued. b. Preparation of the Accounts on a Going Concern Basis In view of the continued health of the church's general fund balance for 2023-24 the Trustee5/Directors have no concerns at present regardin8 the financial viability of the charity and are satisfied that the reserves held by the charity are more than sufficient to ensure its financial health for the foreseeable future. Income Donations under Gift Aid and all other donations and income are recognised as income when they are received. The income tax recovery associated with Gift Aid donations is accrued to the same month in which the donations are received. Interest Receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity,. this is normally upon notification of the interest paid or payable by the Bank. Receipt of Donated Services and Facilities The church benefits greatly from the involvement and sUPPOrt of its many volunteers and the Trustees, Annual Report provides information about their contribution. In accordance with the Charities SORP IFRS 1021, the general volunteer time of people involved with the church is not assessed in economic terms and is therefore not recognised in the accounts. Fund Accountin8 Unrestricted funds are available to Spend on activitie5 that further any of the purposes of the charitv. Designated funds are unrestricted funds of the charity which the Trustees/Directors have decided at their discretion to set aside to use for specific purposes. Restricted funds are donations that the donor has specified to be solely used for Specific purposes as part of the church's work or for specific projects being undertaken by the church. 17
ASCOT LIFE CHURCH Expenditure Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, that it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is on charitable activities including the Costs of activities undertaken to further the purposes of the charity and their associated support costs. Grants The church makes donations to other organisations whose charitable objects complement its own and to people involved in Christian work. These donations are accounted for when paid over. In accordance with the purpose5 of the charity to advance the Christian faith and to fulfil other charitable purposes connected with the work of the charity (see 'Our purposes and activities, in the report of the Trustees/Directors}, the church made donations from it5 unrestricted funds as shown in the table below during the reporting year.'_ Commi$5i0n Apostolic Trust £12,000 Wycliffe Bible Translators £2,520 Operation Mobilisation £2,520 Tearfund Donations £1,800 Trinity Church Canada Support £8.386 Baptist Union £648 Newday Youth Conference £1,000 Other sm311 donations £465 Total £29,339 Operating Leases The charity classifies the lease of printing and photocopying equipment as an operating lease. The title to the equipment remains with the lessor and the equipment is replaced every few years whenever technology advancements make such replacement economically advantageous. Rental charges are charged on a straight line basis over the term of the le35e. Debtors Trade and other debtors are recognised at the expected settlement amounts due. Prepayments are valued at the amount prepaid. k. Creditors and Provtsions Cf editors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of fund5 to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their expected settlement amount. 18
ASCOT LIFE CHURCH Financial Instruments The charity only has financial assets and financial li3bilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. m. Pensions Following the introduction of pension auto enrolment, the church set up an account with the National Employment Savings Trust INESTI, the workplace pension scheme set up by the government especially for auto enrolment. New employees are automatically enrolled into the NEST pension scheme at a basic level but have the flexibility to make contributions at a level that suits their circumstances, or to opt out if they wish to do 50. The church makes corresponding employer contribution5 in accordance with terms agreed in the relevant contracts of employment. The employer contributions made by the charity to the above schemes in 2023-24 and treated as an expense amounted to £8,139. The aggregated amount paid to key management personnel in 2023-24 amounted to £2,701. Pension premiums for the charitable company's employees are paid from unrestricted funds and are accounted for in the same month as the employees, related remuneration. Legal Status of the Chority The church is a Charitable Company Limited by Guarantee and has no share capital. In the event of the charity being wound up. the liability in respect of the guarantee is limited to £10 per Member ofthe charity. 19
ASCOT LIFE CHURCH Income Income from Donations and Legacies Unrestricted Restricted Total Funds Total Funds Mar-23 Funds Funds Mar-24 Unrestrirted funds:_ Donations under Gift Aid Gift Aid tax recovered Donations- General 168,826 44.157 36.819 249,802 168.826 44.157 36,819 249.802 155,265 43,443 30,974 229,682 Restrirted funds:. Newday Youth Camp Fund YWAM T & D Breen Support P Rogers- Retirement Benevolent Fund Other Restricted Funds (Mar-241 2,900 94 2,900 94 975 1,115 2,940 1,487 1,875 375 1,875 375 249,802 5,244 255,046 236,199 Investment Income Bank interest 310 310 55 310 310 55 Total Income 250,112 5,244 255,356 236,254 All the church's investment income arises from money held in interest bearing deposit accounts. The rates of interest on these accounts were low for most of the reporting period. Gift Aid tax recovered on restricted donations amounted to £269 and is included in the restricted fund totals in the above table. Further details on the various restricted funds can be seen under note 9. No income from legacies was received in 2023-24. 20
ASCOT LIFE CHURCH Expenditure Expenditure on Charitable Actlvities- Unrestricted Fund5 Unrestrlcted Restrlcted Total Funds Mar-24 Total Fund5 Funds Funds Mar-23 Staff 5alarie5 and wages Employer's Nl Employer pension contributions Church house costs Grants Costs of premises Church equipment and resources Administration and IT costs Staff resources and travel Training and Conferences Students. Youth and Children'5 work Outreach and Cornmunity work Guest speakers Professlonal fees 108.331 3.311 8.139 21,698 29.339 40,744 8,625 5,748 3,164 3,214 4,420 6.260 645 108.331 3.311 .139 21,698 29.339 40,744 8,625 5,748 3,164 3,214 4,420 6,260 645 123,682 5,768 9,896 3,276 38,553 28.621 6.394 5,133 2.890 4,983 5.902 6.038 360 263 263 263 243,901 243.901 241,7S9 'Church house costs, relate to the house beneficially owned by the church as a manse for a minister's living accommodation and include costs such as property insurance, council tax and maintenance. 'Costs of premises, relate to the running cost5 of the church buildings and also to the rental of premises at Ascot Racecourse used for Sunday morning services. b. Expenditure on Charitable Activltles- Restricted Funds Total Funds Mar-24 Total Funds Unrestricted Restrirted Funds Funds Mar-23 Newday Youth Camp Fund Benevolent Fund Trinity Church Canada Support YWAM T&D 8reen Support Other restricted funds exp <£500 (Mar-24) 2,810 1.810 540 2,810 1.810 S40 1.575 1,080 I,ioo 1,355 2,112 7,222 1.282 799 1,282 799 7.241 7.241 Further details on the varioLbS restricted f unds can be seen under note 9. 21
ASCOT LIFE CHURCH Fixed Assets The company has the beneficial use of a church property and manse by virtue of a trust established in 1921. The title deed5 to these freehold properties are held by the Baptist Union Corporation. The church building5 are located at 175, New Road, Ascot. Berkshire. SL5 8PX and had a buildings insurance valuation of £1,466,528 declared by Baptist Insurance effective from 1st April 2024. The manse is located at 3, Whitelands Drive, Ascot, Berkshire, SL5 8LS and had a buildings sum insured of £420,000 by AXA Insurance Limited effective from 1st April 2024. Debtors Mar-24 Mar-23 Gift Aid tax recoverable due Prepayments Other debtors and payments 8,188 1.197 8,397 1.548 9,385 9.945 Creditors: Amounts Falling Due Within One Year Mar-24 Mar.23 Income tax and Nl due Other credltors 891 2,512 891 2,512 Analysis of Net Assets by Fund Total Funds Total Funds Unrestritted Restricted Funds Funds Mar-24 Mar-23 Fixed assets Current assets 65,835 18911 64.962 5,198 71.051 18911 70,160 68.458 12,5121 65,946 Current liabilities Fund Balance5 5,198 22
ASCOT LIFE CHURCH Net Movement in Funds Opening 8alance Incomlng 31103123 Resources Expenditure Transfer$ 31103124 8alance Unrestritted general fund5 Restrirted funds'.- Newday Youth Camp Fund Youth Events Benevolent Fund 8ible Reading Notes Fund Commission Festival Fund Community Work Fund Trinity Church, Canada Support T&D Breen Support PR Retirement Gifts 58.751 250.112 243.901 64,962 290 2,900 2,810 380 275 275 3,945 61 1,875 1.810 61 4.010 216 375 466 125 38 22 16 931 540 391 1.189 250 94 1.282 250 65.946 255.356 251.142 70.160 Net movement in funds - previous year Openlng Balance Incoming 31103122 Resources B31ance Ejtpenditure Transfeis 31103123 Unrestricted general funds Restrirted fund5;. Newday Youth Camp Fund Youth Events 8enevolent Fund Bible Reading Note5 Fund Commission Festival Fund 70,773 229,737 241.759 58,751 890 975 1,575 290 275 275 3,538 61 1,487 1,080 3,945 61 216 216 Community Work Fund Trinity Church, Canada Support T&D Breen Support PR Retirement Gift5 Ukraine Appeal 73 35 38 2,031 1,429 2rJJ I,ioo 1,355 2,890 762 931 1,115 2,940 1.189 250 762 80,248 236.254 250,556 65.946 The Youth Events fund is used for incoming and outgoing funds for Christian youth events that take place throughout the year. The Newday Youth Camp fund is used for incoming and outgoing funds for the ALC youth group to attend the 'Newday' annual Christian youth festival 23
ASCOT LIFE CHURCH The Benevolent Fund is used for donations designated for the support of those in need. Where such needs arise and the amount available within the restricted fund is insufficient, these needs are covered from the church's general funds. The Bible Reading Notes Fund is used to provide people with explanatory notes about the Bible to promote greater understanding of the Christian faith and of the Bible's relevance to everyday living. This fund ha5 now been closed as the notes are now available f ree of charge. The Commission Festival fund is used for incoming and outgoing funds for the Commi55ion Festival at which Ascot Life Church joins with other churches from across the UK for Christian worship, teaching and fellowship. Additional event expenses were covered f rom general f unds to meet the full costs of this event. The Community Work fund was derived primarily from donations received from monthly cornmunity lunch run by ALC until the pandemic lockdown in the spring of 2020. These donations often exceeded the costs of the food for the lunches so the excess funds are used towards the costs of other community activities provided by the church. The Trinity Church, Canada support fund Iformerly Dave Bett5 Support fund) arises from donations from church member5 designated to support Trinity Church in Red Deer, Alberta, Canada, led by Oave Betts as he works to rejuvenate what was a struggling church. The T&D Breen fund (formerly the Tazmin Foster Support fund) arises from donations from church members designated for Tazmin and Daniel Breen's support as they work with 'Youth With A Mission, based in Perth, Australia. Trustees, Staff and Related Parties Remuneration and Benefits None of the Trustees have been paid any remuneration or received any other benefits from employment with the charitable company or a related entity. No trustee expenses have been incvrred. The number of church employees was six at the start of the reporting year and six at the end of the year. Further details are given in the section about Organisation on pages 8-9. No employee received emoluments in exce55 of £60,000 during the year. The total remuneration received by the Salaried church minister who deals with the day.to- day management of the church's activities amounted to £41.133. The remunerated church minister has beneficial use of the house owned by the church as a manse for living accommodation, the rental value for which is included in the above figure. There were no related party transactions in the reporting period that require disclosure. The aggregated total donations received from trustees and related parties las def ined in the Charities SORP IFRS 1021 Appendix 11 during 2023-24 amounted to £27,210. Related Charities The custodian trustee of the church buildings. Including the church manse, is the 8aptist Union Corporation Limited (Charity number 2496351, which is controlled by the Baptist Union Council. 24
ASCOT LIFE CHURCH The church 15 affiliated to Commission Apostolic Trust (Charity number 11500171 and is also member of the Baptist Union of Great Britain (Charity number 11259121 and the Southern Counties Baptist Association (Charity number 1091066). The church is also 3 member of The Evangelical Alliance (Charity number 2123251. Financial Commitments The Charitable Company leases an office photocopierlprinter for which a total of £1,690 (including VATI was chafged in the financial year 2023-24. Independent Examination The fee for independent examination of the chtjrch's accounts is expected to amount to £250. 25