Company Number: 07451704
NORTH WEST CHURCH RESOURCES
(A company limited by guarantee)
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
Company Number: 07451704
NORTH WEST CHURCH RESOURCES
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
| Page | |
|---|---|
| Legal and Administrative Information | 1 |
| Trustees’ Report | 2 |
| Report of the Independent Examiner | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes forming part of the Financial Statements | 6 |
| Detailed Income and Expenditure Account | 9 |
Company Number: 07451704
NORTH WEST CHURCH RESOURCES
LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 AUGUST 2024
DIRECTORS AND TRUSTEES:
J D Popplewell P D C Eustance A S Lisser N Dickens
REGISTERED OFFICE:
2 Blackburne Place Liverpool Merseyside L8 7PE
COMPANY NUMBER: 07451704 (England and Wales) CHARITY NUMBER: 1141078 (England and Wales)
INDEPENDENT EXAMINER:
K J Miller FCA Monetta LLP 110-114 Duke Street Liverpool L1 5AG
BANKERS:
National Westminster Bank Plc Liverpool City Office 2 – 8 Church Street Liverpool Merseyside L1 3BG
Page 1
Company Number: 07451704
NORTH WEST CHURCH RESOURCES
TRUSTEES’ REPORT FOR THE YEAR ENDED 31 AUGUST 2024
The trustees, who are the directors for the purpose of company law, present their annual trustees’ report with the financial statements of the charitable company for the year ended 31 August 2024 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes. The legal and administrative information set out on page 1 forms part of this report.
The financial statements 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 (FRS 102) effective 1 January 2019.
In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission’s guidance on public benefit, including the guidance ‘public benefit: running a charity (PB2). Affordability and access to our facilities is important to us and is reflected in our pricing policy.
OUR PURPOSES, ACTIVITIES, ACHIEVEMENTS AND PERFORMANCE
The purposes of the charity are the promotion of the Christian religion through the provision of facilities, resources, education and training to churches, individuals and other charities.
The principal charitable activity undertaken during the period, which reflects our purposes and objectives, was the rental of 12-14 Gildart Street, Liverpool, which has been used extensively by Christ Church Liverpool as well as by other Christian charitable and community groups for the purposes of education, training, worship and outreach.
Our facilities and spaces continue to be well used by Christ Church Liverpool, UCCF: The Christian Unions and other Christian Unions based at various universities in Liverpool as well as other local community groups. Christ Church Liverpool have agreed a monthly contribution towards the rental of 12-14 Gildart Street for their use of the building.
A number of groups have rented our facilities and spaces for educational sessions, missions and leisure uses.
While the property is working well to achieve the aims of the organisation, renting a building is not a permanent decision and brings both practical and financial challenges. The trustees are keen to purchase a building that would better serve the longer term needs of the organisation’s that use the premises.
On 6[th] June 2023 the previous property owned by North West Church Resources, 2 Blackburne Place was sold for £821,500. A proportion of these funds were used for legal and moving costs to 12-14 Gildart Street however the majority (£675,000) has been placed into a separate account to protect the finances of North West Church Resources.
FINANCIAL REVIEW
The financial activities for the period and financial position of the charitable company are as shown in the annexed financial statements. The charity, with the support of volunteers, continues to provide much needed services. The results show a decrease in net funds to £437,062 (2023: £448,628). This continues to be a challenge due to the continued maintenance of the building and facilities.
Fundraising continues to be a priority for the trustees and there is a desire to maintain and increase income from the hire of available spaces within the building along with more targeted approaches to obtain grant funding alongside targeted fundraising through the organisations making most use of the facilities to assist with the provision of further facilities to further the charitable aims of the organisation. The trustees continue to consider the future requirements. This is now further impacted by the impact of inflation and most significantly in the year by increases in energy costs.
RESERVES POLICY AND GOING CONCERN
Reserves are needed to bridge the gap between the spending and receiving of income and to mitigate loss during the period of renting. The trustees consider that the ideal level of reserves to protect the finances from the sale of 2 Blackburne Place would be in the region of £675,000.
The charity currently rents 12-14 Gildart Street, and the trustees are in agreement that property ownership would provide long term security, reduce future rental costs, and enable the expansion of opportunities.
The trustees are confident in the charity’s status as a going concern. Budgets and cash flow forecasts have been prepared for the coming 12 months, and with the monthly contributions from Christ Church Liverpool, the charity is in a good place.
Page 2
Company Number: 07451704
NORTH WEST CHURCH RESOURCES
TRUSTEES’ REPORT FOR THE YEAR ENDED 31 AUGUST 2024
PLANS FOR FUTURE PERIODS
Looking to the next year, the Trustees hopes and prayers are that we can continue to use 12-14 Gildart Street as an effective resource for Christian education and training, whilst mitigating any financial impact that renting can have. In addition, we will be continuing to look for a property to purchase to better align the physical resources available.
TRUSTEES
The trustees during the period, who were appointed by the members in accordance with procedures set out in the Memorandum and Articles, were:
A Monk (resigned 30 April 2024), J D Popplewell, P D C Eustance, A S Lisser, N Dickens (appointed 23 March 2025).
The trustees seek to ensure that the needs of the user groups are appropriately reflected through the diversity of the trustee body. The trustees are familiar with the practical work of the charity and are encouraged to attend regular update sessions.
STRUCTURE, GOVERNANCE AND MANAGEMENT
North West Church Resources is a charitable company limited by guarantee governed by its Memorandum and Articles of Association dated 25 November 2010. It was incorporated on 25 November 2010 and registered as a charity on 1 April 2011. In the event of the charitable company being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity.
At any time there must be a minimum of 3 trustees. New trustees are appointed by a ballot of members or by a resolution of the trustees. Their appointment is effective upon completion of the relevant Companies House and Charity Commission paperwork. The trustees meet regularly and are responsible for the strategic direction and policy of the charity. There is a shared responsibility for ensuring that the charity delivers the services specified, that key performance indicators are met and that all appropriate individuals continue to develop their skills and working practices in line with good practice. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.
RELATED PARTIES
None of the trustees receive remuneration or other benefit from their work with the charity and any contractual relationship with a related party must be disclosed to the full board of trustees. In the current year, no such related party transactions were reported.
RISK MANAGEMENT
The trustees have a risk management strategy which comprises: an annual review of the principal risks and uncertainties that the charity faces; the establishment of policies, systems and procedures to mitigate those risks identified in the annual review; and the implementation of procedures designed to minimise and manage any potential impact on the charity should those risks materialise.
Financial sustainability is the major financial risk for the charity. A key element in the management of financial risk is a regular review of available liquid funds to settle debts as they fall due and active management of trade debtors and creditor balances to ensure sufficient working capital is available.
Attention has also been focused on non-financial risks arising from fire, health & safety and hygiene. These risks are managed by ensuring procedures and accreditations are up to date, having robust policies in place, and regular awareness training for those involved.
Page 2 (a)
Company Number: 07451704
NORTH WEST CHURCH RESOURCES
TRUSTEES’ REPORT FOR THE YEAR ENDED 31 AUGUST 2024 (CONTINUED)
TRUSTEES' RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS
The charity trustees (who are also the directors of North West Church Resources for the purposes of company law) 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 year which 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 the financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue on that basis.
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 irregularities.
This report has been prepared in accordance with the special provisions of the Companies Act 2006 relating to small companies.
BY ORDER OF THE BOARD OF TRUSTEES:
A Lisser - Trustee
22 May 2025
Page 2 (b)
Company Number: 07451704
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF NORTH WEST CHURCH RESOURCES
I report to the charity trustees on my examination of the accounts of the charitable company for the year ended 31 August 2024 which are set out on pages 4 to 8.
This report is made to the charity’s trustees, as a body, in accordance with the terms of the engagement. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charitable company and the trustees, as a body, for my work or for this report.
Responsibilities and basis of report
As the charity’s trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (the ‘2011’ Act). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s report
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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1) accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
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2) the accounts do not accord with those accounting records; or
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3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
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4) the accounts have not been prepared in accordance with the methods and principles of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Keith J Miller FCA Monetta LLP
110-114 Duke Street Liv erpool L1 5AG
22 May 2025
Page 3
The notes form part of these financial statements
Company Number: 07451704
NORTH WEST CHURCH RESOURCES
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2024
| Year Ended | Year Ended | |
|---|---|---|
| 31.8.2024 | 31.8.2023 | |
| £ | £ | |
| Unrestricted Funds: | ||
| Income: | ||
| Donations |
500 | 700 |
| Rents and facility charges receivable | 38,628 | 36,594 |
| Investment income: UK interest receivable | 5,408 | 5 |
| Surplus on disposal of property | - | 77,052 |
| Total income | 44,536 | 114,351 |
| Expenditure: | ||
| Charitable activities – costs of providing and maintaining the facilities | 54,998 | 29,068 |
| Governance costs – examination and accountancy costs | 1,104 | 1,104 |
| Total expenditure | 56,102 | 30,172 |
| Net(expenditure)/income and net movement in funds for theyear | (11,566) | 84,179 |
| Reconciliation of funds | ||
| Total funds brought forward | 448,628 | 364,449 |
| Total funds carried forward |
437,062 | 448,628 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derives from continuing activities.
The notes form part of these financial statements
Page 4
Company Number: 07451704
NORTH WEST CHURCH RESOURCES
BALANCE SHEET 31 AUGUST 2024
| Notes FIXED ASSETS Tangible assets 4 CURRENT ASSETS Debtors 5 Cash at bank and in hand LIABILITIES Creditors falling due within one year 6 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS falling due after more than one year 7 NET ASSETS THE FUNDS OF THE CHARITY Unrestricted income funds 8 TOTAL CHARITY FUNDS |
31.8.2024 £ 13,226 718,442 731,668 294,606 |
£ - 437,062 437,062 - 437,062 437,062 437,062 |
31.8.2023 £ 831 852,841 853,672 405,044 |
£ - 448,628 |
|---|---|---|---|---|
| 448,628 - |
||||
| 448,628 | ||||
| 448,628 | ||||
| 448,628 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.
The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for:
(a) ensuring that the charitable company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its income or expenditure for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.
The financial statements were approved and authorised for issue by the Board of Trustees on 22 May 2025 and were signed on its behalf by:
A Lisser – Trustee
The notes form part of these financial statements
Page 5
Company Number: 07451704
NORTH WEST CHURCH RESOURCES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
- 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 financial 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 (FRS 102) effective 1 January 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
North West Church Resources meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Preparation of the accounts on a going concern basis
In preparing the accounts, the trustees have acknowledged and taken account of the continued financial support and patience of the lenders and consider that adequate resources continue to be available to fund the activities of the charity for the foreseeable future. The trustees are of the view that the charity is a going concern.
Income recognition
Items of income are recognised and included in the accounts when all of the following criteria are met: the charity has entitlement to the funds; any performance conditions attached to the item(s) of income have been met or are fully within the control of the charity; there is sufficient certainty that receipt of the income is considered probable; and the amount can measured reliably. The value of services provided by volunteers has not been included in these accounts.
Expenditure recognition and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
Tangible fixed assets
Fixed assets are capitalised at cost and depreciation is provided at the following annual rates in order to write off each asset over its estimated useful economic life on a straight line basis:
| Freehold property | - 2% on cost |
|---|---|
| Fixtures & equipment | - 25% on cost |
2. NET EXPENDITURE AND ANALYSIS OF STAFF COSTS AND TRUSTEE REMUNERATION AND EXPENSES
There were no staff costs for the year ended 31 August 2024 nor for the year ended 31 August 2023.
The charity trustees were not paid nor did they receive any other benefits from employment with the charity in the year (2023: £nil) neither were they reimbursed expenses during the year (2023: £nil). No charity trustee received payment for professional or other services supplied to the charity (2023: £nil)
Net expenditure is stated after charging:
| Year Ended | Year Ended | Year Ended | |
|---|---|---|---|
| 31.8.2024 | 31.8.2023 | ||
| £ | £ | ||
| Depreciation - owned assets | - | 100 | |
| Interest on loans | 1 | (916) | |
| Independent Examination and Accountancy fees | 1,104 | 1,104 |
Page 6
continued...
Company Number: 07451704
NORTH WEST CHURCH RESOURCES
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024
3. LEGAL STATUS OF THE CHARITY
North West Church Resources is a charitable company, limited by guarantee and has no share capital. It is registered in England Wales. The company’s registered number and registered office address can be found on Page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity.
4 . TANGIBLE FIXED ASSETS
| Fixtures and Office fittings equipment £ £ COST As at 1 September 2023 10,145 5,211 Additions - - Elimination on disposal - - As at 31 August 2024 10,145 5,211 DEPRECIATION As at 1 September 2023 10,145 5,211 Charge for year Elimination on disposal - - As at 31 August 2024 10,145 5,211 NET BOOK VALUE As at 31 August 2024 - - As at 31 August 2023 - - 5. DEBTORS 31.8.24 £ Other debtors 10,500 Prepayments and accrued income 2,726 13,226 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.8.24 £ Loans 292,300 Trade creditors1,346 Accruals 960 294,606 7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.8.24 £ Loans - |
Totals £ 15,356 - - 15,356 15,356 - 15,356 - - 31.8.23 £ - 831 831 31.8.23 £ 403,492 214 1,338 405,044 31.8.23 £ - |
|---|---|
Page 7
continued...
Company Number: 07451704
NORTH WEST CHURCH RESOURCES
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024
8. RESERVES
| Unrestricted | |
|---|---|
| general | |
| funds | |
| £ | |
| At 1 September 2022 | 364,449 |
| Income | 114,351 |
| Expenditure | (30,172) |
| At 31 August 2023 represented by net assets | 448,628 |
| At 1 September 2023 | 448,628 |
| Income | 44,536 |
| Expenditure | (56,102) |
| At 31 August 2024 represented by net assets | 437,062 |
Page 8
Company Number: 07451704
NORTH WEST CHURCH RESOURCES
DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2024
| Income: Donations Other income Rents & facility charges Surplus on sale of property Interest Expenditure: Rent Rates, water & permits Insurances Light & heat Telephone & communications Repairs, maintenance & cleaning Professional fees Independent Examination & Accountancy fees Building & facilities management charges Statutory filing fees Finance costs Bank charges Loan interest Depreciation Office equipment Net (expenditure)/income |
Year Ended 31.8.24 £ 38,628 - 5,408 21,880 3,685 445 3,536 2,710 5,459 11,206 1,104 6,000 13 |
£ 500 44,036 44,536 |
Year Ended 31.8.23 £ 36,594 77,052 5 - 3,805 2,885 5,821 2,636 3,986 4,668 1,104 6,000 13 70 (916) 100 |
£ 700 113,651 114,351 30,918 83,433 (846) 84,279 100 84,179 |
|---|---|---|---|---|
| 63 1 - |
56,038 (11,502) 64 (11,566) - (11,566) |
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