TRUE JESUS CHURCH (LEICESTER) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Charity No: 1143059 Whltelaw Wells Chartered Accountants 9 Ainslie Place Edinburgh EH3 6AT TRUE JESUS CHURCH ILEICESTER} ANNUAL REPORT AND FINANaAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2024 CONTENTS PAGES Church Board annual report 2to6 Independent examiner's report Statement of financial artivities Balance sheet Motes to the financial ststements IOto17 TRUE JESUS CHURCH ILEICESTER) CHURCH BOARD ANNUAL REPORT YEAR ENDED 30 SEPTEMBER 2024 REPORT OF THE CHURCH BOARD FOR THE YEAR ENDED 30 SEPTEMBER 2024 The Church Board, who are Trustees for the purposes of Charity Law, have pleasure in presenting their report and financial statements of the Church for the year ended 30 September2024. The financial statements have been PrePa￿d in a¢cofdan¢e with the accounting policies set out in note I to the accounts and cornply with the church's constitution. the Charfcies Act 2011 las amended) and Statement of Retommended Prartice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFR51021 (effective l January 20191. OBJECTIVES AND ACTIVITIES The objectives of the church are: to provide a place of worship for the members of the True Jesus Church in Leicester. to worship the one true God in accordan￿ with the Old and the New Testaments of the Holy Bible. to advance the gospel of Jesus Christ with the doctrines of one true G¢)d, one true chur¢h, water bapt15m. receiving the holy spirit. foot Washi￿ holy communion and the Sabbath: and to prepare for the Lord's second coming. Alms andArtfvitles These objettives are met through regular meetings for worship where they are preached to the congreBation. In shaping our objectNes for the year and planning our actiVTties, the trustees have considered the charity commission guidance on public benefrt. rnn Mokl The Church Board operates a policy to Contribute a proportion of its income to the UKGA. The level of contribution is suggested by the UKGA and is Current￿ about 30% of the totsl general offerings received by the church. ACHIEVEMENTS AND PERFORMANCE The church has been holding regular servi￿5 every Sabbath (Friday evening and Saturday). Sunday. Wednesday and some Friday. The average attendance varies from about twenty-fwe on Wednesdays and one hundred and twenty on the Sabbath and on Sundays. Apart from 5ervites. the thurch has also been running religious education classes for the children. The church held three evan8elical services on 4 May. 27 July and 13 October 2024. TRUEJESUS CHURCH (LEICESTER) CHURCH BOARD ANNUAL REPORT YEAR ENDED 30 SEPTEMBER 2024 How ourartlvltles dellver bllcben Our main artivity is to preach the Sa￿ation grace of Christ Jesus. the one True God. The benefit is for those who belreve. to gain eternal life in the future. The church provides a place of worship for the followers and any truth-seeking friends in Leicester and surrounding counties. The Church also holds regular service5 on Saturday for the followers to keep the Sabbath. FINANaAL REVIEW The church's principal source of income is from offerings ￿ceIved from fcs followers. Total income from unrestricted funds were £177.35712023.. £147.8311 and total resources expended were £124.89312023: £114,860). The net incomin8 resources on the general unrestricted funds. which are the operational reserves of the charity, were 52.46412023= £32.9711. The total income on unrestricted funds increased by 20.0%12023: de¢￿ased by 18.9%1, total resources expended increased by 8.7%12023- 26.8%). The total income from restricted funds was £34,82212023: É4.2061. of which £31.16212023- £4,016) wa5 allocated to the church's building fund. The total resource5 expended amounted to £333.776, with £330.116 used for repairing the flat roof 12023.. £1901. Of this. £296,416 was spent on replacing the waterproofing system for the flat roof due to leaking. This system tomes wrth a thirty-year guarantee provided by the supplier. Additionally. £33.7(KJ was spent on repairing the brickwork of the parapet walls. (￿er the year, £57.88412023= £4521 was spent on pro￿rtY improveThtnts, equipment, furniture, frttinEs, and fixture5, funded by the building fund Rese￿e5 Poll The General lund represents the free reserves of the church arising from past operating results. The free reserves, representing unrestricted funds less the designated funds, stood at £56,19412023.. £343,5891. representing approximately five month's expenditure at current levels. The Church Committee members have examined the requirement to maintain free ￿serveS and eoncluded that thi5 is sufficient, although the free reserve has dropped this year due to the one-off large expenditure incurred in repairing the flat roof. The Church Committee would like to build this reserve back to £IIXI.(110 going forward. InvestmentPoli The reserves are currently held in cash, which the Church Board feels is appropriate given the continulng volatility of the stock market. The Church Board will keep this policy under review. Risk Ma ment The Church Board have assessed the major risks to which the church is exposed, in particular those related to the operations and finances of the Trustees and are satisfied those systems are in place to mitigate the exposure to the major risks. The Church Board places a high priortty on effettive risk management to ensure that the church operate within its financial capabilities and make prudent financial decision5. To rninimise risk. all major financial decisions are required to be discussed and approved by the congregation in special motion. There are also Child Protertion policy, Health and Safety pollcy and Data Protertion policy in place to minimise the risk in these areas. TRUE JESUS CHURCH (LEICESTER) CHURCH BOARD ANNUAL REpoKr YEAR ENDED 30 SEPTEMBER 2024 PiANS FOR FUTURE PERIOOS The church plans to hold three evangelical services each year to preach the gospel of Jesus Christ with the doctrines of one true God. one true church, water baptism, receiving the Holy Spirit. footsvashin& hoty communion and the Sabbath. and to prepare for the Lord's second coming. STRUCTURE. GOVERNANCE AND MANAGEMENT Status Chorf overnin docume ond llotion The True Jesus Church (Leicester) is registered as a charity With the Charity Commission with the charity number 1143059. The charity is governed by the declaration of trust deed made on 26 June 2011. Prior to this the Church was an unincorporated association governed by its Rules and Regulations. The Church is affiliated to the General As5embty of True Jesu5 Church IUKI. IUKGAI. Mon ement and inthient the Church 8oord The management of the church is the responsibility of the Church Board who are elected and C￿oPted under the terms of the constitution, which states that the church will elect nine members to form the Church Board. This elettion will take place at the Annual General Meeting every three years and each member serves for a period of three years until the next elertion. The next Church Board election will be held at the Annual General Meeting in 2025. The financial matters are controlled by the Church Board and managed by the Financial Affairs sertion of the Church Board. anls(rtionol Structure The members a￿ any persons baptised in the True Jesu5 Church. Adult members are eligible to speak, vote. elert and be elected at the General Meeting of Members. The General Meeting of Members is the highest decision-making meeting. Any decisions made are to be dealt with by the Church Board, and then executed by the Church Executive Committee consisting of the Religious. General and Financial Affairs Officers. Many volunteers gNe up their time to help at the church. particuLirly at weekends and in the evenings. The Board is greatly indebted to these volunteers fortheir tommitment and support. TNstee frolnln The current Trustees have held their posts for several years and are fully conversant with the work of the tharity. Should a Trustee leave between AGM'S then the remaining Trustees will meet to appoint a new Trustee based on their skills and experience. The existing Trustees will mentor the new Trustee vntil thev are familiar with the day-ttrday workings and aims of the charity, and they will be given the opportuntty to contribute fully to any management issues that are brought to the attention of the Church Board. TRUE JESUS CHURCH (LEICEsfER) CHURCH BOARD ANNUAL REpoirr YEAR ENDED 30 SEPTEMBER 2024 REFERENCE AND ADMINlSnlATIVE INFORMATION Charlty Name True Jesus Church Leicester Charlty Number 1143059 Church Board Mrs. Achan E Kwok YTang Cshek Mrs. S Ho Mrs. M Ho CWLIU Mrs. M Shek From 4 February 2024 WFChan M Kwok Religious affairs (Chairl General affairs Financial affairs Resigned 4 February 2024 Church Address 5 Granville Road Leicester LEI 7RU Independent emamlner: Louise Presslie CA Whitelaw Wells Chartered Accountsnts 9 Ainslie Place Edinburgh EH3 6AT Bankers National Westminster Bank PIC l Granby Street Leicester LEI 9GT TRUE JESUS CHURCH ILEICESTER) CHURCH BOARD ANNUAL REpoKr YEAR ENDED 30 SEPTEMBER Z024 STATEMEKf OF RESPONSIBIUTIES OF ThE CHURCH BOARD The Church Board are responsible for preparing the Church Board's Report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the Church Board to prepare financial Statements for each year which give a true and fair wew of the sttuation of the charty and of the incoming resources and application of resources, of the charty for that period. In preparing the financial statements, the trustees are required to: select suitable atcounting policies and then apply them consistently- observe the methods and principles in the applicable Charities SORP. • make judgements and estimatesthat a￿ reasonable and prudent. state whether applicable accounting standards have been followed, sublect to any material departures that must be disclosed and explained in the financial statements. prepare the financial statements on the going concern basis unless It is inappropriate to presume that the charbty will continue in business. The Church Board are ￿spOnSible for keeping proper accounting records that disc105e with reasonable accuracy at any time the financial position ol the charrty and to enable them to ensure that the financlal statements comply with the Charities Act 2011 las amended). the applicable Charities IAccounts and Reports) Regulations, and the provisions of the constitution. They are also responsible for safeBuarding the assets of the church and taking reasonable steps for the prevention and detection of fraud and other irregularities. The Church Board are responsible for the maintenance and integrity of the church and financial information included on the charitvs website in accordance with legislation in the united Kingdom governing the preparation and dissemination of financial statements. Approved by the Church Board on op/o)-/>< and signed on their behalf by: A6L&' Mrs Achan Religious affairs (Chairl TRUE JESUS CHURCH (LEICESTER) INDEPENDENT EXAMINER'S REPORT YEAR ENDED 30 SEPTEMBER 2024 I report on the financial statements of the church for the year ended 30 September 2024 set out on pages 8tol7. Re5pectlve responsibllttles of trustees and examlner The charitvs trustees are responsible for the preparation of the accounts. The charitys trustees consider that an audit is not required for this year under sertion 144 of the Charitie5 Art 2011 las amended) Ithe Charities Act) and that an independent examination is needed. It is my responsibilwty to: • examine the accounts under sertion 145 of the Chartties Act to follow the procedures laid down in the general Directions given by the Charity Commission under sertion 1451511bl of the Chartties Act. and to state whether particular matter5 have come to my attention Basis of Independent exarninerfs report My examination was carried out in accordance wtth the general Dirertions given by the Charity Commission. An examination includes a rewew of the attounting records kept by the charity and a cornparison of the accounts presented with those records. It also includes consideration of ony unusual items or disclosures in the accounts and seeking explanations from the trustees concernins any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is grven as to whether the accounts present a 'true and fairf view. and the report is limtted to those matters set out in the statement below. Independent examlnerfs ststement In connection with my examination, no matter has come to my attention: {11 which gives me reasonable cause to believe that in any material respect the requirements: to keep accounting records in accordance with settion 130 of the Charities Act; and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Art. have not been met or {21 to which. in my opinion. attention should be drawn in order to enable a proper understanding of the accounts to be reached. Louise Presslie CA Whitelaw Wells Chartered Accountants 9 Ainslie Place Edinburgh EH3 6AT Date.. 4 May 2025 TRUE JESUS CHURCH ILEICESTER) STATEMENT OF FINANaAL AcrivmES (INCORPORATING INCOME AND EXPENDITURE ACCOUNn YEAR ENDED 30 SEFfEMBER 2024 Unrestrirted Restrirted Funds Funds 2024 Total 2023 Totsl Notes Income and Endowments from: Donations and legacies Offerings received Investments Bank interest received 177,357 28,274 205,631 149.041 6,548 2,996 Totsl Incorne 177.357 34.822 212.179 IS2,037 Expenditure on: Charltable activities 124.893 333.776 458,669 115,050 Total Expendlture 124.893 333.776 458.669 115.050 Net Income for the year Transfers between funds 52,464 {281.976) 1298.9541 1246,4901 281,976 36,987 Net movement In funds for the perlod 1229,5121 116,9781 {246.49Jl 36,987 Reconciliatlon of funds Total funds at l Ortober 2023 1,874.074 18.566 1,892,640 1.855,653 Total fund5 at 30 Septernber 2024 1,644,562 1.588 1,646,150 1.892.640 TRUE JESUS CHURCH {LEICESTER) BALANCE SHEEr AS AT 30 SEPTEMBER 2024 2024 2023 Notes Flxed assets Tangible assets 1.583.868 1.530.485 Current assets Debtors Cash at bank and in hand 27,377 50.634 20.815 351.507 78,011 372.322 Current liablllties Creditors.. Amounts falling due within one year 115.7291 110,1671 Net current assets 62.282 362,155 Total assets less Current liabilities 1,646.150 1,892,640 Creditors: Amounts falling due after more than one year Net assets 1,646.150 1,892,640 Fund5 Unrestricted funds Restritted funds 1.644,562 1,588 1,874,074 18,566 Total funds 1,646,150 1.892,640 Approved by the Church Committee on o¥/¢rfv