## Christ Church Exmouth _Statement of Financial Activity 2023_ # **ANNUAL REPORT AND FINANCIAL REVIEW Charity Commission: Christ Church Exmouth Year Ended: 31st December 2023** ## **REPORT FROM THE CHAIR OF TRUSTEES** The trustees are pleased to present the annual report and audited financial statements of Christ Church Exmouth for the year ending 31st December 2023. ## **Charity Objectives** Christ Church Exmouth is an independent evangelical church operating as a Charitable Trust. Our mission is to advance the Christian Faith in accordance with the principles and practices of the Free Church of England, also known as the Reformed Episcopal Church, as outlined in the Declaration of Principles in Schedule I of our Constitution. ## **Structure, Governance, and Management** Christ Church Exmouth operates under an Unincorporated Charity Constitution adopted on the 6th of March 2011. All Church Council members also serve as Trustees. The Trustees serving during 2023 were: - Bishop Josep Miquel Roselló Ferrer - Chair of Trustees and Minister - Mark Edmund Nowaczyk - People's Warden (from 1st March 2023) - Julia Lowrie - Minister's Warden (from 1st March 2022) - Simon Pike (from 1st March 2022) - Philip Ralli (from 1st March 2023) - Sandra Lorraine Tait (from 1st March 2023) - Maggie Liggins Norris (until 28th February 2023) - Jon Liggins Norris (until 28th February 2023) The Trustees convene regularly to fulfil the Church's objectives. Furthermore, they ensure that all Church buildings are adequately maintained, insured, and protected against fire and other risks. They approve the policies in accordance with the guidelines provided by the Charity Commission. They established strong financial controls to minimize the risk of fraud and irregularities, and to maintain financial integrity and stability During the Annual Church Meeting, the Minister nominated five individuals to form the Minister's Advisory Council as outlined in the Canons. These council members assist the Minister in the spiritual governance of the church and participate in matters such as the reception, enrolment, dismissal, or discipline of Church Members. The members of this council for the reporting year were: - Patrice Alessandra dos Santos Roselló - Simon Pike - Laura Empson - Julia Lowrie • Mark Edmund Nowaczyk ## **Paid Members** Christ Church Exmouth employs or has employed two part-time and one full-time staff members: - The Minister (full-time) - A Director of Music (part-time) - A Cleaner (part-time) ## **Statement of Public Benefit** We have developed various activities to serve and support the local community, including: - Providing English classes for Ukrainian refugees. - Offering financial assistance to families in need to cover bills and provide food. - Delivering pastoral care to vulnerable individuals with mental health challenges. - Partner with local charities and supporting group during the year. ## **Partners (Volunteers)** The Trustees express their deep gratitude to all the dedicated volunteers who contribute tirelessly to the well-being of our community in various ways. Without their commitment and efforts, the Church's work would not be possible. ## **Activities, Achievements, and Performance** In 2023, Christ Church Exmouth embarked on a new journey with a renewed purpose, vision, mission, and core values. You can find detailed information on these aspects at the following link: https://christchurchexmouth.co.uk/vision Throughout the year, Christ Church continued its Sunday Morning, witnessing an increase in Sunday attendance, as previous years. The number of morning attendees rose from 82 in the previous year to 86 in 2023. The Electoral Roll has been updated. The Church has 68 committed members in 2023. Membership has been implemented to follow the Constitution and Canons of the church, according to our Trust Deeds. We continue with our regular prayer meetings on Thursday mornings and Sunday evenings. We organised a monthly Prayer and Worship gathering, providing opportunities for spiritual growth and connection. Shine children's ministry remained active and well, supporting families: - On Monday, our toddler group, “Arise and Shine”, has been meeting with an attendance of 25-35 children. - “Shine” on Sunday mornings saw an average attendance of 15 children. - All-Age Services have been organised with a good attendance. - During Advent, a Christingle Service and a Carol Service took place. The Youth group continued to meet regularly, and we are thankful for the new youth that has joined the group. Our Pastoral Care Ministry has supported and assisted the church and the community. In addition, they coordinated Meal Rotas to further support those in need, and hospital visits. The 4Women and 4Men continues their activities. Especially active has been 4Women with bible studies and social events. We had guest tutors who has led the bible studies for each semester. Our Outreach and Evangelism has been active to reach out the community with the love and grace of our Lord, Jesus Christ. The group has increased during the year, and work in partnership with other Christian members from other churches in Exmouth and Exeter. We welcomed back to Tom and Sarah Haig that has served faithfully with YWAM Malawi before they moved to Cornwall where they are going to serve in a local church. — 2— We are proud that members of our church actively support and assist other charities, including Open Door Exmouth, Food Bank Exmouth, Home that Smile, and many more. At the end of the year, I announced to the church that I was leaving at the end of July 2024, to take a new post as the Servant General of NAMS (New Anglican Missionary Society). Also, I committed myself to help them through this transition period. A Strategic Plan was approved as the church began such period of transition and looking the future. ## **FINANCIAL REVIEW** Christ Church, Exmouth, relies on voluntary contributions from its church community to cover its overheads and expenses. In the past year, the total income received amounted to £98,169, while church activity payments reached £97,215, resulting in a surplus of £954 for church activities. For financial management purposes, the church operated a single account with HSBC Bank, utilizing a receipts and payments approach. Previously, in 2021, the church's financial assets were allocated to three distinct funds: the Unrestricted General Fund, the Restricted Nehemiah Fund, and the Restricted Music Director Fund. The creation of the Music Director Fund took place in 2020. ## **Nehemiah Fund:** The Nehemiah Fund, initially established to reserve donated funds, was intended to cover expenses related to bringing Rt. Rev. Josep M. Roselló-Ferrer and his family from San Paulo, Brazil, to serve as the Minister of Christ Church, Exmouth. Furthermore, these funds were raised to support Bishop Josep’s broader ministry extends beyond the obligations outlined in his employment contract dated March 14th, 2019. ## **Music Director Fund:** The Music Director Restricted Fund was specifically created to retain donations received for the Music Director of Christ Church, Exmouth. The sole purpose of this fund is to remunerate the Music Director. ## **RESERVES POLICY** The Church Council maintains reserves for the following purposes: - To fulfil our obligations in the event of a closure of Christ Church, considering the support required for the Minister appointed in April 2019, lasting for 4 months, and other staff for 6 weeks. - To facilitate an orderly closure of the church and ensure the settlement of any outstanding liabilities. - To manage cash flow. ## **RISK ASSESSMENT** The Methodist Insurance Group provides sufficient insurance coverage for all activities involving the Church Council, including employers’ and public liability. The Church Council regularly reviews the policies and approves new ones in accordance with the guidelines set by the Charity Commission. ## **FUND ACCOUNTING** Funds held by the Charity are: Unrestricted General funds - these are funds which can be used in accordance with the charitable objects at the discretion of the Trustees. Designated funds - these are funds set aside by the Trustees out of unrestricted general funds for specific future purposes or projects. — 3— Restricted funds – these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. ## **RESOURCES EXPENDED AND BASIS OF ALLOCATION OF COSTS** Expenditure is included when incurred and includes irrecoverable VAT. Expenditure on operational programmes is recognised in the period in which it is incurred. A designated fund is established for expenditure which has been committed to projects, but remains unspent at the year end. ## **CASH AT BANK AND IN HAND** Cash at bank and cash 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. ## **CREDITORS AND PROVISIONS** Creditors and Provisions are identified when the Charity has a present responsibility arising from a previous obligation that will result in the transfer of funds to a third party and the amount necessary to satisfy the obligation can be reliably measured or approximated. Provisions and Creditors are recognised at the settlement amount. ## **COSTS OF MANAGING AND ADMINISTERING THE CHARITY** These represent costs attributable to the management of the charity’s assets, organisational administration and compliance with constitutional and statutory requirements. ## **FIXED ASSETS** Fixed assets are depreciated over their estimated useful lives to write off the cost less residual value of the asset during the period of its use. The following rates of depreciation are used: Equipment 25% straight line Assets under £6500 are not capitalised The costliest pieces of equipment are the organ, the multimedia projector, sound desk, speakers and other AN equipment. None of this equipment has outstanding depreciation. ## **TAXATION** The Church is a charity and is not subject to taxation. ## **ELECTED MEMBERS REMUNERATION AND EXPENSES** No remuneration was paid to any elected members during the period. On behalf of the trustees, The Rt Rev Josep Miquel Roselló Ferrer Chairman of Trustees and Minister — 4— CHRIST CHURCH Exr￿UTH STATEMENT OF FINANCIALACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Unresln¢ied Genwa Fund Reslrict8d 2023 2022 2021 Nehg- miah Mu51 Childrgns Director & Shine INCOMING RESOURCES Regular Giving 52,917 5,152 4,357 50 62.476 67,732 64,778 Non-recurring donations and appeals 13,978 4,028 1,301 19,305 16,475 19.314 Inve5tr1enl In¢ome 2.659 Incorne from Church Aclvib'es 2.750 2,750 5,008 2,608 Rental income from Manse 13.387 13.387 13,392 13,048 Other Income 250 250 370 445 Total Incoming ReSoU￿S 50 98 169 102979 102.851 RESOURCES EXPENDED Cost of Minister 20203.67 7,573 27,776 30,420 30,671 Cost of Hou81ng Mini5Èr 15.800 15.800 14.400 13.300 Trthe5, Don8tions & DiscretK)n8ry Fu 6,076 6,076 12,162 7,175 Payroll 15,751 5,395 21,146 13,181 18,957 Governan 9.505 9.505 5.613 6.207 ExpÈnsès 15.503 1,408 16.911 21,915 10.711 Totsl Resour¢8$ Expen¢*d Net Incoming l Outgoing Resources 443 198 284 50 954.34 5,2e7 15,830 Balance bfvd 1 January 2023 92.684 19,149 4,253 0 116,085 110,798 94,968 8alaneè clfv4d 31 DecèNbèr2023 93.127 19347 4S16 SO 117.040 11608S 110798 CHRIST CHURCH EXMOUTH STATEMENT OF FINANCIAL ASSETS & LIABIUTIES FOR THE YEAR ENDED 31 DECEMBER 2023 Noto 2023 2022 2021 Fixed Assets E9￿1Pment 805 Cash at Bank and in Hand HSBC M)in Account -688 105,747 110.798 GIIL Aid Owcd Accr'ued banking ei'i'oi. Oebtorslcl-editors 1906 5474 4865 -63 TOTAL NET ASSETS 117040 16.08S 110.798 Represented by.. Unresti-lctcd General Fund Ro5orvos of £S7.967 £27.025 £1 B.2?6 65,659 27.025 19,148 S4.256 27.025 16.733 Resii-icied Children'5 Fund ResEricred Music Director Fund [3.643 -£190 198 4,254 12.784 CDnipas£ion Fund Ukr21no Fund TOTAL FUNDS 17,040 16,085 110,798 CURRENT LIABILITIES sep Rtssello Minis On bEhalf ofthe Churrh Cour￿1 Trustre £¥/./l Date Christ Church Exmouth ## **NOTES TO THE ACCOUNTS** ## **for the period ended 31st December 2023** ## **1 Principal accounting policies** The Charity has claimed the exemptions available in Section 1a of FRS102 not to prepare a cash flow since it is a small charity. ## **a) Basis of Preparation and Assessment of Going Concern** The Financial Statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. With items recognised at cost or transaction value unless otherwise stated in the relevant notes. ## **b) Public Benefit Entity** Christ Church Exmouth as a charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes. ## **c) Going Concern** The Trustees consider that there are no material uncertainties about the Charity's ability to continue as agoing concern. ## **d) Income Recognition Policies** 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 items of income have been met or are fully within the control of the charity; - . There is suffcient certainty that receipt of the income is considered probable; and the amount can be measured reliably. Income received in advance of a specific performance or provision of other specified service is deferred until the criteria for income recognition are met. ## **e) Fund Accounting** Funds held by the Charity are: - Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the Trustees. - Designated funds - these are funds set aside by the Trustees out of unrestricted general funds for specific future purposes or projects. - Restricted funds – these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. ## **f) Resources expended and basis of allocation of costs** Expenditure is included when incurred and includes irrecoverable VAT. — 7— Expenditure on operational programmes is recognised in the period in which it is incurred. A designated fund is established for expenditure which has been committed to projects, but remains unspent at the year end. ## **g) Cash at Bank and in Hand** Cash at bank and cash 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. ## **h) Creditors and Provisions** Creditors and Provisions are identified when the Charity has a present responsibility arising from a previous obligation that will result in the transfer of funds to a third party and the amount necessary to satisfy the obligation can be reliably measured or approximated. Provisions and Creditors are recognised at the settlement amount. ## **i) Costs of managing and administering the charity** These represent costs attributable to the management of the charity’s assets, organisational administration and compliance with constitutional and statutory requirements. — 8— Christ Church Exmouth NOTES TO THEACCOUNTS forthe perwjd ended 31 st December 2023 2 Legal Status of the Charity Christ Church Exmouth is a registered Charitable Incorporatsd Organisalion and is governed by ils constitution as dated 6th March 2011 3 Income ralsed through the year 2023 2022 2021 Unrestricted General Fund Restricted Nehemiah Fund Reslricled Children's Fund Reslricled Music Director Fund 83,282 9,178 50 5,658 92,271 9,275 94,099 5,063 1.433 3,689 TOTAL FUNDS 98,169 102,979 102,851 (i) General Income 2023 2022 2021 Giving, Donations & GiftAid Hall Letting Children's & Youth Work Exmouth Trust Broadmead Olhers 80,865 2.750 917 73,500 2.650 426 75,338 1,098 2,659 13,048 1,956 13,387 250 13,392 2,303 TOTAL FUNDS Income of (ALL} Resources Comparison 2022 v 2021 2023 2022 2021 Regular Giving Non-recurring donations and appeals Investment Income Income from Church Activities Renlal income from Manse Other Income 62,476 19,306 67,732 16,475 64,778 19,314 2,659 2,608 13,048 445 2.750 13.387 250 s.oos 13,392 370 TOTAL FUNDS 98,169 102,979 102,851 Christ Church Exmouth NOTES TO THE ACCOUNTS for the period ended 31 st December 2023 4 Analysis of expenditure on ¢haritable activities 2023 2022 2021 Cost of Minister Cost of Housing Minisler Tithes, Donations & Discretionary Fund Payroll Govemance Expenses 27,776 15,800 6,076 21,146 9,505 16,911 30,420 14.400 8,322 13,181 5,613 21,915 30,671 13,300 7,175 18,957 6,207 10,711 TOTAL FUNDS 97,214 93,851 87,021 S Expenditure of Funds through the year 2023 2022 2021 Unrestricted General Fund Restricted Nehemiah Fund Restricted Children's Fund Restricted Music Director Fund 82,839 8,981 80,715 7,012 73,152 6,584 5,395 9.964 7,285 TOTAL FUNDS 97,214 97,691 87,021 6 Income l Outgoing Resources 2023 2022 2021 Total Income Resources Total Outgoing Resources 98,169 -97,214 102,979 -97,691 102,851 -87,021 Net Incoming l Outgoing 954 5.287 15,830 BALANCE OF FUNDS 31ST DECEMBER 117,040 116,085 110,798 7 Balance of Funds 2023 2022 2021 Unrestricted General Fund Reserves Reslricled Nehemiah Fund Restricted Children's Fund Restn'cted Music Director Fund 57,976 27,025 18,226 10,170 3.643 65.659 27,025 19.148 54,256 27,025 16,733 4,254 12,784 TOTAL FUNDS 117,040 116,085 110,798 8 Creditors.. amounts falling due within one year 2023 2022 2021 GiftAid Owed Accrued banking error 1906 5474 4865 TOTAL io- INDEPENDENT EXAMINER'S REPORT 2023 TO THE MEMBERS OF THE CHURCH COUNCIL CHRIST CHURCH EXMOUTH I report to the trustees on my examination of the accounts of Christ Church, Exmouth for the year ended 31st December 2023. As the charity trustee5 of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act"). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in canying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5){b) of the Act. Independent Examiner's Statement In connection with my examination, no matter has come to my attention reasonable cause to believe that in ally material respect: accounting records were not kept in accordance with section 130 of the Act or which gives me Thavenoc attention sho cern an have in me acros dertoe no matter in connection with the examination to which le a proper understanding of the accounts to be reached. Id Dale 99. o c+o4a 902+- Name....... Relevant PTofessional qualification Address . ioi34k- li-