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2024-12-31-accounts

Registered number: 07584098 Charity number: 1141375

Net Church Dartford

(A company limited by guarantee)

Trustees' report and financial statements for the year ended 31 December 2024

Document ID: 30047f46-a637-4438-924b-9d4512eb3727

Net Church Dartford

(A company limited by guarantee)

Contents

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 6
Independent auditors' report on the financial statements 7 - 9
Statement of financial activities 10
Balance sheet 11
Statement of cash flows 12
Notes to the financial statements 13 - 30

Document ID: 30047f46-a637-4438-924b-9d4512eb3727

Net Church Dartford

(A company limited by guarantee)

Reference and administrative details of the Charity, its Trustees and advisers for the year ended 31 December 2024

Trustees R Morley
P Judd
D Brown (resigned 23 May 2025)
M Thomas (resigned 23 April 2025)
M Naidoo
N Hughes
R Wood (appointed 23 May 2025)
Company registered
number
07584098
Charity registered
number
1141375
Registered office
30 Spital Street
Dartford
Kent
DA1 2DL
Senior Pastors
R Morley and K Morley
Independent auditors
Carleys
Chartered Accountants
Second Floor South
The Fitted Rigging House
Anchor Wharf
The Historic Dockyard
Chatham
Kent
ME4 4TZ
Accountants
Kreston Reeves LLP
2nd Floor, Maritime Place
Quayside
Chatham Maritime
Chatham
ME4 4QZ
Senior Management
Team
Roy Morley, Senior Pastor
Keely Morley, Senior Pastor
Peter Judd, Locational Leader
Jaya Judd, Executive Pastor
Andrew Jackson, Locational Pastor
Heather Jackson, Locational Pastor

Page 1

Document ID: 30047f46-a637-4438-924b-9d4512eb3727

Net Church Dartford

(A company limited by guarantee)

Trustees' report

for the year ended 31 December 2024

The Trustees present their annual report together with the audited financial statements of the Charity for the year from 1 January 2024 to 31 December 2024. The Annual report serves the purposes of both a Trustees' report and a Directors' report under company law. The Trustees confirm that the Annual report and financial statements of the Charity comply with the current statutory requirements, the requirements of the Charity's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

a. Policies and objectives

The primary aim of Net Church Dartford is to advance the Christian faith and provide holistic support to the communities of Dartford, Sittingbourne, and Addis. Following the successful merger of the two Net Church charities in 2023, the unified church has expanded its impact by strengthening spiritual, social, and community programmes. The charity also works toward poverty alleviation, educational outreach, and promoting community cohesion both locally and internationally.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

b. Volunteer Participation and Event Support

The charity’s activities are greatly enhanced by the significant contributions of approximately 200 dedicated volunteers. Their involvement spans across 491 events with 2,829 serving instances, supporting programmes for youth, families, and community outreach. The charity deeply values the time, skills, and commitment provided by its volunteers, which play a crucial role in delivering its mission and extending its impact.

Achievements and performance

a. Review of activities

Congregational Growth

With a growing congregation, the Dartford site now runs two Sunday services at 9:30 and 11:30am, each attended by hundreds weekly. Sittingbourne also continues to grow in attendance and ministry engagement.

Staff and Volunteers

The church employs over 20 dedicated staff across pastoral, administrative, and childcare roles. More than 300 volunteers actively serve across departments, including media, hospitality, children’s ministry, and outreach.

Youth and Children’s Ministries

Over 100 teenagers engage weekly in the church’s youth programme, supported by trained leaders and events like the Young Lions Leadership Camp. The children's ministry serves 100+ children weekly through a creative and secure environment for learning and faith formation.

Nursery and Playgroup

Net Church operates a longstanding Ofsted-registered nursery in Dartford and the Little Angels playgroup in Sittingbourne, the latter serving over 45 families. These services provide essential early years support for local families.

Page 2

Document ID: 30047f46-a637-4438-924b-9d4512eb3727

Net Church Dartford

(A company limited by guarantee)

Trustees' report (continued) for the year ended 31 December 2024

Achievements and performance (continued)

Outreach and Community Engagement

The church continues to support:

Tamil Congregation

Over 100 Tamil-speaking members participate in weekly Sunday afternoon services, forming a vibrant, multicultural branch of the church.

Charity Partnerships

Net Church partners with Compassion UK, currently sponsoring over 300 children in Ethiopia, providing access to education, nutrition, and healthcare.

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

b. Reserves policy

The reserves policy has been updated following the merger to reflect the combined financial position of the two entities, with total reserves now amounting to £2,630,013 (2023: £2,407,764). The policy ensures sufficient reserves are maintained to cover 6 months of operational costs and to provide for future investments in key programmes and facilities. 6 months reserves is £330k, broken down as £180k at Dartford, and £150k at Sittingbourne. Average monthly expenditure stands at £30k approximately for Dartford, and £25k for Sittingbourne. We also have a designated reserve that is built up by our yearly gift aid income & Tamil Church Venue usage contribution to cover mortgage payments of approx. £5k per month, which it covers yearly and leaves a surplus.

The Trustees review this policy annually to ensure continued stability and strategic agility.

Net Church is proud of the growth and impact we have achieved this year and will continue to serve the local and global community with the same dedication, in line with our mission to be a place “where people matter, and lives are changed.”

c. Results for the year

During the year, the merged charity received income of £1,066,967 (2023: £950,813) and incurred expenditure of £844,718 (2023: £750,260). The charity had a surplus at year end of £222,249 (2023: £200,553).

Unrestricted reserves at the year end were £2,547,802 (2023: £2,343,142) and restricted reserves at year end were £82,211 (2023: £64,622).

d. Principal risks and uncertainties

The Trustees have reviewed the risks to which a small charity operating with few employees is exposed. Appropriate procedures are in place to identify, monitor and review these risks on a regular basis.

Page 3

Document ID: 30047f46-a637-4438-924b-9d4512eb3727

Net Church Dartford

(A company limited by guarantee)

Trustees' report (continued) for the year ended 31 December 2024

e. Principal funding

The principal funding sources for Net Church Dartford during the reporting period were:

These income streams have enabled the charity to pursue its core objectives, which include:

The Trustees remain grateful to all those who contribute to the ongoing work and mission of the church.

f. Restricted funds

The purpose of the individiual restricted funds is detailed in note 14.

Structure, governance and management

a. Constitution

Net Church Dartford is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 30 March 2011.

The Charity is constituted under a Memorandum of Association dated 30 March 2011 and is a registered charity number 1141375.

b. Methods of appointment or election of Trustees

The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association.

c. Structure, Governance, and Management

The charity operates under the governance of its Board of Trustees, who are collectively responsible for the overall leadership, strategy, and compliance with legal and regulatory requirements.

The Trustees delegate the day-to-day management of the charity to the Senior Management Team, which comprises individuals with key operational and strategic responsibilities. The Senior Management Team members during the year were as follows:

The Senior Management Team is responsible for implementing the charity’s strategic goals, overseeing operational activities, and ensuring the charity continues to fulfil its mission and objectives.

Page 4

Document ID: 30047f46-a637-4438-924b-9d4512eb3727

Net Church Dartford

(A company limited by guarantee)

Trustees' report (continued) for the year ended 31 December 2024

Structure, governance and management (continued)

d. Pay policy for key management personnel

The church applies a fair, transparent pay grade structure reviewed regularly against sector standards. Pay decisions reflect:

e. Risk management

Key risks are regularly assessed, with mitigations in place for financial uncertainty, volunteer sustainability, and congregation engagement. A significant risk continues to be potential reduction in regular giving, mitigated through communication and engagement strategies.

Plans for future periods

As of 1st August 2023, the charity Net Church Dartford merged with its associated charity Net Church Sittingbourne (registered as Net Church with charity number 1054377), which has the same Trustee body. All assets and activities will be moved into the registration of Net Church Dartford, and Net Church Sittingbourne was dissolved.

Following the merger, Net Church now focuses on strengthening its programmes and expanding its reach in the communities of Dartford, Sittingbourne, local and international communities. Key priorities for the upcoming year include investing in youth and family programmes, enhancing volunteer engagement, and developing new community outreach initiatives. Additionally, the church aims to increase collaboration with local and international partners to ensure long-term sustainability and impact.

Ongoing Commitment

Our commitment to local schools, prisons, and food banks remains strong, and we continue to actively offer help wherever it is needed. We remain dedicated to our mission of advancing the Gospel and changing lives.

Property Acquisition

Following the year-end, the Charity completed the purchase of a new property in Sittingbourne in January 2025.

A deposit was paid prior to 31 December 2024 and is included in year-end debtors.

This expansion aligns with our strategic goal to create larger, sustainable community spaces.

Ministry Expansion

In the year ahead, Net Church aims to:

The Trustees remain committed to growing the church’s impact in the UK and abroad.

Page 5

Document ID: 30047f46-a637-4438-924b-9d4512eb3727

Net Church Dartford

(A company limited by guarantee)

Trustees' report (continued) for the year ended 31 December 2024

Statement of Trustees' responsibilities

The Trustees (who are also the Directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' 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 . 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 Charity and of its income and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

Approved by order of the members of the Board of Trustees and signed on their behalf by:

R Morley

Trustee Date: 26/09/2025

Page 6

Document ID: 30047f46-a637-4438-924b-9d4512eb3727

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF NET CHURCH DARTFORD

Opinion

We have audited the financial statements of Net Church Dartford (the 'charitable company') for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and Notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Other matter – corresponding amounts

The financial statements of the charitable company for the year ended 31 December 2023 are unaudited.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Page 7

Document ID: 30047f46-a637-4438-924b-9d4512eb3727

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF NET CHURCH DARTFORD

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, our approach was as follows:

As a result of these procedures we consider that the most significant laws and regulations relating to the financial statements are the Charities Act 2011, the regulations relating to the specific accounting and reporting requirements applicable to charitable companies, and the Companies Act 2006. We performed audit procedures to enable us to detect non-compliance with significant laws and regulations which may have a material impact on the financial statements which included reviewing disclosures within the financial statements and inspecting correspondence with regulatory authorities.

We considered the risk of fraud through management override and revenue recognition as the areas where the financial statements were most susceptible to material misstatement due to fraud. In response, we incorporated testing of the appropriateness of journal entries, assessing judgements made by management in making accounting estimates and evaluating the business rationale for any significant unusual transactions or those outside the normal course of business.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 8

Document ID: 30047f46-a637-4438-924b-9d4512eb3727

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF NET CHURCH DARTFORD

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Claire Ralph (Senior Statutory Auditor) for and on behalf of Carleys Statutory Auditor Second Floor South The Fitted Rigging House The Historic Dockyard Chatham Kent ME4 4TZ 26/09/2025 Date: .............................................

Page 9

Document ID: 30047f46-a637-4438-924b-9d4512eb3727

Net Church Dartford

(A company limited by guarantee)

Statement of financial activities (incorporating income and expenditure account) for the year ended 31 December 2024

Note
Income from:
Donations and legacies
3
Charitable activities
4
Investments
5
Total income
Expenditure on:
Raising funds
Charitable activities
6
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Restricted
funds
2024
£
27,603
5,730
-
33,333
-
15,744
15,744
17,589
64,622
17,589
82,211		 Unrestricted
funds
2024
£
750,746
272,429
10,459
1,033,634
14,934
814,040
828,974
204,660
2,343,142
204,660
2,547,802		 Total
funds
2024
£
778,349
278,159
10,459
1,066,967
14,934
829,784
844,718
222,249
2,407,764
222,249
2,630,013		 Total
funds
2023
£
694,735
251,193
4,885
950,813
13,404
736,856
750,260
200,553
2,207,211
200,553
2,407,764

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 13 to 30 form part of these financial statements.

Page 10

Document ID: 30047f46-a637-4438-924b-9d4512eb3727

Net Church Dartford

(A company limited by guarantee) Registered number: 07584098

Balance sheet as at 31 December 2024

Note
Fixed assets
Tangible assets
10
Current assets
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within one
year
12
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
13
Total net assets
Charity funds
Restricted funds
14
Unrestricted funds
14
Total funds		 492,063
641,255
1,133,318
(41,732)		 2024
£
2,102,946
1,091,586
3,194,532
(564,519)
2,630,013
82,211
2,547,802
2,630,013		 107,727
762,791
870,518
(38,677)		 2023
£
2,144,938
831,841
2,976,779
(569,015)
2,407,764
64,622
2,343,142
2,407,764

The entity was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

However, an audit is required in accordance with section 144 of the Charities Act 2011.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

R Morley Trustee Date: 26/09/2025

The notes on pages 13 to 30 form part of these financial statements.

Page 11

Document ID: 30047f46-a637-4438-924b-9d4512eb3727

Net Church Dartford

(A company limited by guarantee)

Statement of cash flows for the year ended 31 December 2024

Cash flows from operating activities
Net cash used in operating activities 17
Cash flows from investing activities
Dividends, interests and rents from investments
Purchase of tangible fixed assets
Net cash provided by/(used in) investing activities
Cash flows from financing activities
Repayments of borrowing
Net cash used in financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year 18		 2024
£
(70,543)
10,459
(1,287)
9,172
(60,165)
(60,165)
(121,536)
762,791
641,255		 2023
£
246,314
4,885
(72,052)
(67,167)
(52,120)
(52,120)
127,027
635,764
762,791

The notes on pages 13 to 30 form part of these financial statements

Page 12

Document ID: 30047f46-a637-4438-924b-9d4512eb3727

Net Church Dartford

(A company limited by guarantee)

Notes to the financial statements for the year ended 31 December 2024

1. General information

The Charity is a charitable company limited by guarantee. The members of the Charity are the Trustees named on page 1. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity. The Charity has the registered company number 07584098 and the registered charity number 1141375. Its registered office is 30 Spital Street, Dartford, DA1 2DL.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Net Church Dartford 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.

The financial statements have been prepared in British Sterling and are rounded to the nearest Pound.

2.2 Going concern

The Trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Charity's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

2.3 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

Page 13

Document ID: 30047f46-a637-4438-924b-9d4512eb3727

Net Church Dartford

(A company limited by guarantee)

Notes to the financial statements for the year ended 31 December 2024

2. Accounting policies (continued)

2.5 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 institution with whom the funds are deposited.

2.6 Tangible fixed assets and depreciation

Tangible fixed assets costing £2,500 or more are capitalised.

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold buildings - Straight line over 50 years (land is not
depreciated)
Motor vehicles - Straight line over 3 years
Fixtures and fittings - Straight line over 3 to 7 years

2.7 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.8 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.9 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

2.10 Financial instruments

The Charity only has financial assets and financial liabilities 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Page 14

Document ID: 30047f46-a637-4438-924b-9d4512eb3727

Net Church Dartford

(A company limited by guarantee)

Notes to the financial statements for the year ended 31 December 2024

2. Accounting policies (continued)

2.11 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

2.12 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

2.13 Merger accounting

Merger accounting principles are applied in accordance with FRS 102. With merger accounting, the carrying values of the assets and liabilities of the parties to the merger are not required to be adjusted to fair value, although appropriate adjustments are made to achieve uniformity of accounting policies where necessary.

On 01 August 2023, the activities of Net Church Sittingbourne (registered charity number 1054377) along with all their assets and liabilities were merged with Net Church Dartford (registered charity number 1141375).

The financial statements have been prepared using merger accounting, and applying the true and fair override given that the merged entity is a charitable company. The combination of Net Church Dartford and Net Church Sittingbourne has met the merger accounting criteria under FRS 102. When the charities merged, their purposes were concurrent and the purposes of the merged reporting entity encompass those of the combining charities, with no significant change to classes of beneficiaries or the purpose of the benefits provided.

The Trustees have considered the requirements of FRS102 and the SORP in making this decision, and have therefore adopted merger accounting as the most appropriate form of disclosure so that the financial statements show a true and fair view. Accordingly, as prescribed in the SORP, the comparative financial statements show the aggregate results for the combined charities.

Page 15

Document ID: 30047f46-a637-4438-924b-9d4512eb3727

Net Church Dartford

(A company limited by guarantee)

Notes to the financial statements for the year ended 31 December 2024

3. Income from donations and legacies

Church and other giving
Gift Aid
Other income
Total 2023		 Restricted
funds
2024
£
27,603
-
-
27,603
6,953		 Unrestricted
funds
2024
£
624,830
106,666
19,250
750,746
687,782		 Total
funds
2024
£
652,433
106,666
19,250
778,349
694,735		 Total
funds
2023
£
563,376
112,694
18,665
694,735

4. Income from charitable activities

Events and programmes
Other income
Rise income
Conference income
Youth
Bible Academy
Team income
Resources
Vision offering
Playgroup income
Little Angels
Hall hire
Total 2024
Total 2023		 Restricted
funds
2024
£
5,700
-
-
-
30
-
-
-
-
-
-
-
5,730
13,064		 Unrestricted
funds
2024
£
19,483
95
19,499
-
-
772
1,185
138
27,349
202,642
1,266
-
272,429
238,129		 Total
funds
2024
£
25,183
95
19,499
-
30
772
1,185
138
27,349
202,642
1,266
-
278,159
251,193		 Total
funds
2023
£
18,295
-
9,765
229
7,913
-
2,334
10
18,526
190,616
535
2,970
251,193

Page 16

Document ID: 30047f46-a637-4438-924b-9d4512eb3727

Net Church Dartford

(A company limited by guarantee)

Notes to the financial statements for the year ended 31 December 2024

5. Investment income

Unrestricted Total Total
funds funds funds
2024 2024 2023
£ £ £
Bank interest 10,459 10,459 4,885

All of the investment income, in both 2024 and 2023, related to unrestricted funds.

6. Analysis of expenditure by activities

Charitable activities
Total 2023		 Direct costs
2024
£
408,377
453,382		 Support
costs
2024
£
421,407
283,474		 Total
funds
2024
£
829,784
736,856		 Total
funds
2023
£
736,856

Page 17

Document ID: 30047f46-a637-4438-924b-9d4512eb3727

Net Church Dartford (A company limited by guarantee)

Notes to the financial statements for the year ended 31 December 2024

6. Analysis of expenditure by activities (continued)

Analysis of direct costs

Staff costs
Youth
Ministry team expenses
Events & outreach
Media & tech
Children's department & Little Fishes
Loving Later Life
Subscriptions
Welcome
Tamil Congregation
Befriending service
Music & worship
Net Young Adults
Building projects
Community projects
Christmas Giving Expenditure
Church Plant
GLS - Next Year
Playgroup running costs
Visiting speakers
Hospitality
Team expenses
Total 2023		 Restricted
funds
2024
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
15,744
-
-
-
-
-
15,744
11,761		 Unrestricted
funds
2024
£
232,106
8,159
11,496
54,770
6,055
2,784
277
4,008
3,573
19,171
-
956
163
7,492
285
8,095
1,484
9,251
9,818
3,209
6,984
2,497
392,633
441,621		 Total
funds
2024
£
232,106
8,159
11,496
54,770
6,055
2,784
277
4,008
3,573
19,171
-
956
163
7,492
285
8,095
17,228
9,251
9,818
3,209
6,984
2,497
408,377
453,382		 Total
funds
2023
£
299,216
8,764
14,433
48,996
2,771
764
227
7,000
2,612
20,837
116
651
870
19,371
1,329
4,560
3,046
7,218
3,879
2,706
1,337
2,679
453,382

Page 18

Document ID: 30047f46-a637-4438-924b-9d4512eb3727

Net Church Dartford

(A company limited by guarantee)

Notes to the financial statements for the year ended 31 December 2024

Analysis of expenditure by activities (continued)

Analysis of support costs

Unrestricted
funds
2024
£
Staff costs
176,030
Depreciation
43,279
Utilities
60,975
Telephone and internet
765
Insurance
29,050
Stationery
2,497
General building maintenance
23,803
Cleaning
7,188
Printing
2,272
Interest payable
51,765
Professional fees
2,156
Travel
-
Playgroup support costs
563
AOG contribution
440
Security
849
Miscellaneous
7,805
Auditors fees
7,200
Other accountancy
4,770
Total 2024
421,407
Total 2023
283,474
7.
Auditors' remuneration
Fees payable to the Charity's auditor for the audit of the Charity's annual
accounts		 Total
funds
2024
£
176,030
43,279
60,975
765
29,050
2,497
23,803
7,188
2,272
51,765
2,156
-
563
440
849
7,805
7,200
4,770
421,407
283,474
2024
£
7,200		 Total
funds
2023
£
73,145
44,894
55,758
852
19,826
2,361
19,147
5,880
2,022
43,717
-
38
910
2,900
904
6,137
4,800
183
283,474
2023
£
-

During the prior period, the Charity paid £4,800 for independent examination services to the previous advisers.

Page 19

Document ID: 30047f46-a637-4438-924b-9d4512eb3727

Net Church Dartford

(A company limited by guarantee)

Notes to the financial statements for the year ended 31 December 2024

8. Staff costs

Wages and salaries
Social security costs
Pension costs		 2024
£
394,210
6,362
7,564
408,136		 2023
£
350,888
15,446
6,027
372,361

The average number of persons employed by the Charity during the year was as follows:

2024 2023
No. No.
Employees 25 24

No employee received remuneration amounting to more than £60,000 in either year.

Remuneration and benefits paid to key management personnel during the year, including employer's national insurance contributions, amount to £103,241 (2023: £96,514)

9. Trustees' remuneration and expenses

During the year R Morley, one of the Trustees, received remuneration and benefits amounting to £51,620 (2023: £49,038) for his position as Pastor.

During the year P Judd, one of the Trustees, received remuneration and benefits amounting to £10,839 (2023: £5,972) for his position as Pastor.

During the year ended 31 December 2024, no Trustee expenses have been incurred (2023 - £NIL).

Page 20

Document ID: 30047f46-a637-4438-924b-9d4512eb3727

Net Church Dartford

(A company limited by guarantee)

Notes to the financial statements for the year ended 31 December 2024

10. Tangible fixed assets

Cost or valuation
At 1 January 2024
Additions
At 31 December 2024
Depreciation
At 1 January 2024
Charge for the year
At 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023
Debtors
Due within one year
Trade debtors
Other debtors
Prepayments and accrued income
Tax recoverable		 Freehold
property
£
2,412,124
1,287
2,413,411
300,007
36,715
336,722
2,076,689
2,112,117		 Motor
vehicles
£
7,500
-
7,500
7,500
-
7,500
-
-		 Fixtures and
fittings
£
155,425
-
155,425
122,604
6,564
129,168
26,257
32,821
2024
£
1,974
364,570
2,400
123,119
492,063		 Total
£
2,575,049
1,287
2,576,336
430,111
43,279
473,390
2,102,946
2,144,938
2023
£
4,655
274
4,505
98,293
107,727

11. Debtors

Page 21

Document ID: 30047f46-a637-4438-924b-9d4512eb3727

Net Church Dartford

(A company limited by guarantee)

Notes to the financial statements for the year ended 31 December 2024

12. Creditors: Amounts falling due within one year

Bank loans and overdrafts
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income		 2024
£
16,075
11,250
-
-
14,407
41,732		 2023
£
19,979
6,817
6,490
591
4,800
38,677

13. Creditors: Amounts falling due after more than one year

Bank loans
Included within the above are amounts falling due as follows:
Between two and five years
Bank loans
Over five years
Bank loans		 2024
£
564,519
71,666
492,853		 2023
£
569,015
68,656
500,359

The aggregate amount of liabilities payable or repayable wholly or in part more than five years after the reporting date is:

Repayable by instalments 2024
£
492,853
492,853		 2023
£
500,359
500,359

The bank loan was used to assist with the purchase of the church property in Spital Street, Dartford. It is secured with a first charge on that property and is repayable over 25 years with interest at 3.75% per annum.

Page 22

Document ID: 30047f46-a637-4438-924b-9d4512eb3727

Net Church Dartford

(A company limited by guarantee)

Notes to the financial statements for the year ended 31 December 2024

14. Statement of funds

Statement of funds - current year

Unrestricted funds
Designated funds
Capital fund
General funds
General Fund
Total Unrestricted funds		 Balance at 1
January
2024
£
1,556,118
787,024
2,343,142		 Income
£
-
1,033,634
1,033,634		 Expenditure
£
-
(828,974)
(828,974)		 Transfers
in/out
£
(33,595)
33,595
-		 Balance at
31
December
2024
£
1,522,523
1,025,279
2,547,802

Page 23

Document ID: 30047f46-a637-4438-924b-9d4512eb3727

Net Church Dartford (A company limited by guarantee)

Notes to the financial statements for the year ended 31 December 2024

14. Statement of funds (continued)

Restricted funds
Youth Conference/Summer
Camp
Vision Offering 2020
Vision Offering Dartford
Vision Offering Tamil
Women's Conference - Closer
Church Plant
Vision Offering 2024
Sittingbourne
Vision Offering 2023
Sittingbourne
Vision Offering 2022
Sittingbourne
Christmas Bike Giveaway
Youth
Loving Later Life
Community Fund
Total of funds		 Balance at 1
January
2024
£
1,253
301
27,925
7,610
487
12,730
-
-
5,233
193
130
4,207
4,553
64,622
2,407,764		 Income
£
-
-
23,390
1,845
-
-
4,259
3,839
-
-
-
-
-
33,333
1,066,967		 Expenditure
£
-
(301)
-
-
-
(12,730)
-
-
(2,713)
-
-
-
-
(15,744)
(844,718)		 Transfers
in/out
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Balance at
31
December
2024
£
1,253
-
51,315
9,455
487
-
4,259
3,839
2,520
193
130
4,207
4,553
82,211
2,630,013

Page 24

Document ID: 30047f46-a637-4438-924b-9d4512eb3727

Net Church Dartford (A company limited by guarantee)

Notes to the financial statements for the year ended 31 December 2024

14. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
Designated funds
Capital fund
Fulston move
Salary Fund
Resources
General funds
General Fund
Total Unrestricted funds		 Balance at
1 January
2023
£
669,042
58
4,186
114
673,400
1,454,663
2,128,063		 Income
£
-
-
-
-
-
930,796
930,796		 Expenditure
£
-
-
-
-
-
(726,651)
(726,651)		 Transfers
in/out
£
886,904
-
(4,186)
-
882,718
(871,784)
10,934		 As restated
Balance at
31
December
2023
£
1,555,946
58
-
114
1,556,118
787,024
2,343,142

Page 25

Document ID: 30047f46-a637-4438-924b-9d4512eb3727

Net Church Dartford (A company limited by guarantee)

Notes to the financial statements for the year ended 31 December 2024

14. Statement of funds (continued)

Restricted funds
Youth Conference/Summer
Camp
Vision Offering 2020
Vision Offering Dartford
Vision Offering Tamil
Women's Conference - Closer
Church Plant
Vision Offering 2020
Sittingbourne
Vision Offering 2021
Sittingbourne
Vision Offering 2022
Sittingbourne
Christmas Bike Giveaway
Youth
Young Lions
Loving Later Life
Ukraine
Community Fund
Total of funds		 Balance at
1 January
2023
£
1,182
801
16,274
5,270
487
23,664
15,057
7,144
3,331
193
130
21
4,207
1,387
-
79,148
2,207,211		 Income
£
71
-
11,151
2,340
-
-
-
-
1,902
-
-
-
-
-
4,553
20,017
950,813		 Expenditure
£
-
-
-
-
-
-
(15,057)
(7,144)
-
-
-
(21)
-
(1,387)
-
(23,609)
(750,260)		 Transfers
in/out
£
-
(500)
500
-
-
(10,934)
-
-
-
-
-
-
-
-
-
(10,934)
-		 As restated
Balance at
31
December
2023
£
1,253
301
27,925
7,610
487
12,730
-
-
5,233
193
130
-
4,207
-
4,553
64,622
2,407,764

Page 26

Document ID: 30047f46-a637-4438-924b-9d4512eb3727

Net Church Dartford (A company limited by guarantee)

Notes to the financial statements for the year ended 31 December 2024

14. Statement of funds (continued)

Purpose of designated funds

Capital fund - The capital fund represents the value of land and buildings included in tangible fixed assets accross the merged entity, less the outstanding balance on the charity's mortgage. Following the merger, the Capital fund has been increased to recognise the value of the merged charity's assets, and as such a transfer has been made from general funds to increase the value of the fund appropriately.

Fulston Move Fund - represents monies set aside for the cost of moving church to Fulston Salary Fund - represents monies set aside from Playschool profits to go towards salaries. During the year the Trustees have reviewed this balance, and have deemed it to be fully utilised at the year end. Resources Fund - represents monies taken from selling resources, mugs, notebooks etc.

Purpose of restricted funds

Youth Conference/Summer Camp - Money given to pay for putting on a youth conference in the summer.

Vision Offering - A specific offering once a year to go towards church planting, community projects & partnerships, and building projects. During the year the Trustees have reviewed this balance, and have deemed a transfer to Vision Offering Dartford fund appropriate.

Vision Offering Dartford - A specific offering once a year from Dartford congregation to go towards church planting and community partnership projects. During the year the Trustees have reviewed this balance, and have deemed a transfer from Vision Offering fund appropriate.

Vision Offering Tamil - A specific offering once a year from Tamil to go towards church planting and community partnership projects.

Bike Offering - At Christmas a special offering was taken to be able to buy bikes for children and young people from families that couldn't afford to buy them.

Women's Conference - Closer & Closer 2022 - Money raised for the church to run a womens conference, and ladies contributed towards the cost of the event.

Church Plant - Money contributed for the church plants in London and Ethiopia. During the year the Trustees have reviewed this balance, and have deemed expenditure has been previously spent accroding to the funds purpose, and therefore have made a transfer to generak funds to decrease the value of the fund appropriately.

Christmas Bike Giveaway Fund - represents monies collected to purchase bicycles for children in the community

Youth Fund - represents donations received towards the running of the Youth ministry.

Young Lions Fund - represents monies collected to help facilitate a leadership development weekend for the Youth ministry.

Loving Later Life Fund - represents donations received towards the befriending ministry for over 50's in the community. The befriending project was postponed due to the Coronavirus pandemic, but will restart in 2022/23.

Vision Offering 2020, 2021, 2022, 2023 & 2024 Fund - represents donations received towards the Vision Offering in 2020,2021, 2022, 2023 & 2024 to go towards community projects and church planting. Monies held will continue to be used to fund further community projects.

Ukraine - represents donations received towards an appeal for Ukraine. Monies held will be paid across in the future year.

Community Fund - represents money restricted for community projects and partnerships that arises from surplus giving for community projects from the congregation.

Page 27

Document ID: 30047f46-a637-4438-924b-9d4512eb3727

Net Church Dartford (A company limited by guarantee)

Notes to the financial statements for the year ended 31 December 2024

15. Summary of funds

Summary of funds - current year

Designated funds
General funds
Restricted funds		 Balance at 1
January
2024
£
1,556,118
787,024
64,622
2,407,764
Balance at
1 January
2023
£
673,400
1,454,663
79,148
2,207,211		 Income
£
-
1,033,634
33,333
1,066,967
Income
£
-
930,796
20,017
950,813		 Expenditure
£
-
(828,974)
(15,744)
(844,718)
Expenditure
£
-
(726,651)
(23,609)
(750,260)		 Transfers
in/out
£
(33,595)
33,595
-
-
Transfers
in/out
£
882,718
(871,784)
(10,934)
-		 Balance at
31
December
2024
£
1,522,523
1,025,279
82,211
2,630,013
Balance at
31
December
2023
£
1,556,118
787,024
64,622
Summary of funds - prior year
Designated funds
General funds
Restricted funds
2,407,764

16. Analysis of net assets between funds Analysis of net assets between funds - current period

Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Total		 Restricted
funds
2024
£
-
82,211
-
-
82,211		 Unrestricted
funds
2024
£
2,102,946
1,051,107
(41,732)
(564,519)
2,547,802		 Total
funds
2024
£
2,102,946
1,133,318
(41,732)
(564,519)
2,630,013

Page 28

Document ID: 30047f46-a637-4438-924b-9d4512eb3727

Net Church Dartford

(A company limited by guarantee)

Notes to the financial statements for the year ended 31 December 2024

16. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior period

Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Total		 Restricted
funds
2023
£
-
64,622
-
-
64,622		 As restated
Unrestricted
funds
2023
£
2,144,938
805,896
(38,677)
(569,015)
2,343,142		 Total
funds
2023
£
2,144,938
870,518
(38,677)
(569,015)
2,407,764

17. Reconciliation of net movement in funds to net cash flow from operating activities

Net income for the period (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Increase in debtors
Increase in creditors
Interest paid on loan
Interest received
Net cash provided by/(used in) operating activities
18.
Analysis of cash and cash equivalents
Cash in hand
Total cash and cash equivalents		 2024
£
222,249
43,279
(384,336)
6,959
51,765
(10,459)
(70,543)
2024
£
641,255
641,255		 2023
£
200,553
44,894
(47,467)
9,502
43,717
(4,885)
246,314
2023
£
762,791
762,791

Page 29

Document ID: 30047f46-a637-4438-924b-9d4512eb3727

Net Church Dartford

(A company limited by guarantee)

Notes to the financial statements for the year ended 31 December 2024

19. Analysis of changes in net debt

Cash at bank and in hand
Debt due within 1 year
Debt due after 1 year		 At 1
January
2024
£
762,791
(19,979)
(569,015)
173,797		 Cash flows
£
(121,536)
3,904
4,496
(113,136)		 At 31
December
2024
£
641,255
(16,075)
(564,519)
60,661

20. Pension commitments

The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £7,264 (2023: £6,027). Contributions of £Nil (2023: £591) were payable to the fund at the Balance sheet date.

21. Related party transactions

During the period, the Charity received cumulative donations of £3,536 from the Trustees (2023: £4,334).

Mrs K Morley, wife of R Morley (who is a trustee of the charity), received remuneration and benefits totalling to £51,620 (2023: £47,576) during the year, in her capacity as a church worker.

M Naidoo (Trustee) received £600 in capacity as a visiting speaker honorarium (2023: £300).

Mr E Morley, son of R Morley (who is a trustee of the charity), received remuneration and benefits totalling to £29,190 (2023: £26,511) during the year.

Mrs J Judd, wife of Mr P Judd (who is trustee of the charity), received salary of £35,556 (2023: £32,766) in the year in her capacity as Executive Pastor.

During the year, £Nil was paid for travel and leadership training costs for Mrs K Morley, Mrs J Judd and Mr R Morley (2023: £3,284).

There were no other related party transactions in the current or prior year.

22. Post balance sheet events

Following the year end, the purchase of a new property for the Sittingbourne site was completed in January and full payment was made. The property will be recognised within the 2025 financial statements accordingly.

Page 30

Document ID: 30047f46-a637-4438-924b-9d4512eb3727

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