CHURCH OF IMPACT LIMITED (A company limited by guarantee) REPORT and FINANCIAL STATEMENTS Year Ended 31st December 2023 Charity number 1143124 Company number 07666917 CHURCH OF IMPACT LIMITED IA company limitsd by guarants•l Report and Financial Statements Year Ended 31st December 2023 Contents Legal and Administrative inforn)ation Advisors Aims,Objeclives and Activities Financial Review Structure. Governance & Management Independeni Examiners Report io. Ststement of Ftnancial Activities Balance Sheet as at 31" Decemlxr 2023 12-17. Notes forniing part of the Financial Statements CHURCH OF IMPACT LIMITED Legal & Administrntive Information Ch*ftty N•rn¢: Chwch Of1M￿ Limited Rtgistered Chaiity Nllmber. 143124 Compally N#mbtr. 76(rfp917 FiDaDciII Yegr begin•iDt: 1st JanuaTh' 2023 Finincial Year ending: 31M Dec¢mb¢r 2023 Chgrity's Principle Address: Grttnbank Rowl Li5k¢ard Com*211. PL14 3DP Officers ofthe Charity during the year Siephen c￿ld1' Pasior. Dire thThid Sheph￿d C4xDwh. Secteiary Dir¢dor David Berrs. CHURCH OF IMPACT LIMITED Church Advisors Banknrn 8ard8y$ 88nk PIC . 140-146 AM￿da Way. PL1 1L4 A¢¢ountsnts Da** Hawken & Dodd, 52 FO￿ Street. Callinglon. PL17 7A1 Church Of Impact Limited Our Aims and Objectives Pur oses and aims Our charity's purposes as set out in the objects contained in the company's articles of association are for the benefii of the publi¢: To advance the Christian faiih in accordance with the Statement in such ways and in such parts ol-the United Kingdom or the world as Ihe direciors from time to time may think fit. To relieve sickness and Iinancial hardship and to promote and preserve good health by the provi5i0n ol. funds. gjoods or serviLes ofan}' kind including¥ through Ihe provision of ounselling and support in such parts of the United Kingdom or the world as the directors may from lime to lime may think fit. To advance education in such ways and in such pans of the United Kingdom or the world as Ihe directors may from time to time may Ihink Ill. Ens rin our work delivers our aims Our Annual Review looks at our achievemenls and the outcomes of our work in the previous 12 months. The review looks at e¢i¢h kcy aclivily and lh¢ benefits Ihey have brought lo Ihose groups of people they were sei up to help. This helps us lo ensure our aim. objcclives and acliviliLs reinain focused on our purposcs as stated abov¢. We have referred io the guidance contained in the Charity Coinmission's gcneral guidance on public benefit when reviewinbJ our aims and objcclives and in planning our future aclivities. Our Actlvltles Church Activities The church has ¢ontinued to grow in love and unity. With time devoled lo prayer, fasling and io the Wo7rd - the church family is stronger and growing in number. The b?rowth 15 51eady bul the emphasis here is strenbyih and family. We have seen Inany faLets of the Christian faith in servanthood, assisting others in financial need. healingF and love. In May the church underwcnl a re-branding with the change of it's name from Greenbank Community Church to Church of Impact Limited. This included the creation of a new website. The church meets rcgularly every Sunday for worship. Wednesday evening mid-week prayer; and Saturday morning prayer and ta51ing. In addition, the worship team meet every Friday for practice. Refurbishment and decorations continue throughout the building. In the past 12 months this has included scaflolding the exterior of the building lo allow access to renovate and repaint the whole of th¢ outside ot the buildingi. renew lead work lo parts of the front roof slopes, replace guttering and display new Church signs. Children's Work - we continue to see much growth amongst our children and young people. Page 3 Church Of Impact Limited Church Of Im act Limited End of Year Re ort 2023 Greenbank Care has been running since 2004 as a Domiciliary Care Agency, regislered with the Care Quality Commission (CQC), providing care for those in need in the community with care and compassion. The aims and objectives of Greenbank Care are.. To lead the way in transfomiingJ our local communily by demonstrating practical and professional care with love and compassion. To provide the higihest stsndards of Care. To provide a holistic care serviLe th' ill and this w¢ consider a wondcrful privilege. Gr¢¢nbank Care cmploys bL'twccn 15 20 pcoplL'. At Greenbank Carc w¢ care, support and value our statT in the same way we do our clients, we encourage g?ood inter staff relationships and effective communication, we enable slaff to grow and develop their skills, knowl¢dgc, and qualifications. We enjoy a good reputation for reliability, integrity and going the extra mile. Page 4 Church Of Impact Limited Su ort to Missions We have mainlained regular financial supp)rt for Christian missionaries both at home and abroad. Our financial statement specifies our chuTch's commilment io this aspect of Christian service. We continue to give ￿gUlarlY to the following ministries- World ofworth- supporting children and Bible college studenls in India. Compassion - sponsoring children in Uganda through to adulthood. Colombi4 Inlemational Church support. OpKn Doors - Serving Persecuted Christians Worldwid¢ Christian Institute Page S Church of Impact Limited Financial Review Fundin Principle funding sources for the charity are: Church. offerings. donations, legacies and grant funding Greenbank Care. Cornwall Council and private client fees. grant funding and donations. Impact; Grdnt funding, fees and donations. ReseNes Poli The Trustees have examined the charitys requirements for ￿serveS &s againsi the main financial risks and have established a ￿lleY by which the utwestricted and designated funds not committed or invested in Lqngible fixed a55els should ￿ between 3 and 6 months of expenditure. At 31 December 20?3 the nel currenl assets in the unrestricted and designated funds just under 2 months of norn￿1 expenditure. Future Plans With the CUTrent Registered Manager wanting to resign. the trust¢es have taken the decision to instruct an agent to look at selling Greenbank Care. Tetaining Impaci day care services. Page 6 Church Of Impact Limited Structure, Governanca and Management Governin Document Church of Impact I,imited (forn)erly Greenbank Community Church) is a company limit¢d by yuaranlee, incorporaiL'd c)n 13th June ?0 I l and rebJisiered as a chariiy on 27th July 2011. The company was esthbli5hed under a Memorandum of Association which established th¢ objects and powers of the charitable compaiiy and is gToverned under its Article5 of Association. In th¢ ¢v¢nt of the company being wound up mcmbers are required to contribute an amount nor ¢x¢e¢ding £1. In addition io th¢ ArtiLles of ASs￿latIon the directurs have adopled a Church Manageinenl Document that should be read in conjunctioi) with the Articles. The Church Managemeni Document is subsidiary to the Articles of Association and all terms used in the Church Management Document shall have the meaning artributed to them in Ihe Articles. ointmen f Dire The directors of the Lompany are also Lharily trustees for the purposes of ¢h8rity law. Under the C hurch Maiiagemeiit DoLument all directors are Ineiiibers ol-the charily's management Coiiimittee known as Ihe Chur¢h Council. Under the Articles of Association the directors shall comprise the Senior Minister of the church together with such persons as the Senior Minister shall nominate and the directors may from lim¢ to time appoint. Directors are not required to retire b). rolalion. Terms lor the resignation. disqualilication or removal of directors are as required by the appropriate sections of the Articles of ASS￿13t10n. Details of pers01i5 serving as directors ai)d In¢mb¢rs of the Church Council are as shown on Ihe Legal and Administrative section 011 page l of this r¢port. anisational Structure The ministry and work of Church of Impact Limited is ov¢rse¢n by the Church Council that meets on a regular ba515 and at least 6 times each year. The r¢sponsibilities of individual directors are as delegated b>, the Senior Mii)islcr and Scnior I,¢ader. who is also the Chaim)ai) of the Chiirch Council. Th¢ Seiiior Leader lias overall rcspon5ibility for cnsuring the charity delI￿er5 services and public benefit in accordance with its aims aiid objeclive5 as laid out in the Articles of Associalion. Chur¢h Of Impact Limited is in fellowship with the national charity Assemblies of God in Great Britain which functions Ihrou8h its General Conference and Rcgional Councils. A represenialiveldelegale is appointed to r¢pr¢sent and vote on behalf of lh¢ ¢hurch at such meetings. Res nsibilities of Directors Compaily law requires the dircclor5 to prepar¢ financial statements for each financial year that give a true and fair view of the companies affairs as at th¢ balanc¢ sheet date. The financial statements should in¢lud¢ d¢tails of the charity's income. expenditure and applicalion of resources for the financial year. In preparing the financial statcm¢nts the directors have.. a) Selected suitable accounting policies and applied them consist¢ntly. b) Made judg¢m¢nts and estimates ihat are reasonable aiid prudent. c) Prepared the financial statements on a going concern basis. Page 7 Church Of Impact Limited Res onsibilities of Directors continued The directors are responsible for maintaining proper accounting records which disclose with reasonable accuracy al any time the fjnancial positton of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also reSpO￿lbIe for safegyuarding the assets of the company and hence for taking} re&sonable steps for the prevention and detection of fraud and any other irregulariiies. In accordance with company law th¢ directors certify that: So far as we are aware, there is no relevant financial InfOrn￿tion ihat has not provided to ihe company's accounlants in order for thcm lo undcrtake their independent examination of ihe tinancial stalemenls. A5 directors of the company we have taken all of the steps that we ought to have taken in order to make ourselves aW￿e ofall relevant financial infornwion and to establish that the charity's accountants are supplied with thai infornwtion. endent Examiners The directors agreed to re-appoint Messrs. Dawe Hawken & r)odd as ihe company's accountants and independenl cxaminers for the year ending 315t Dec¢mkr 2023 and Messrs Daw¢ Hawken & Dodd have expressed their willingness to ￿ntinUe in that capacity. tement This rewrt h&8 Ften prepared in accordance with the Stalemenl of Recommended Praclicc: AcLounling and Reporting by Charities and in accordance with the special provisions of the Companies Act 2006 relating to small entities. Approved by the Directors and signed on their behalf by: David Shepherd (Company Secretary) Dated: I￿ Page 8 Ende endent Examiner's Re ort to the Directors of Church of Im act on the Accounts for the ear ended 31" December 2023 I report on the accounts for the year ended 31 De¢¢mkr. 2023 which are set out on pages 10 to 17. Respective Responsibilities of the Directors and Independent Examiner The charit> s directors consider that an audit is not required for this )'ear under section 144(2) of the Charities Aci 2011 (the 201 l Act) and that an independenl examination is needed. It is my responsibility to: examine the accounts under section 14) of the 2011 Act; follow the procedures laid do￿1) in the General Direciions given by the Charity Commissioners section 145(5)(b) of the 2011 Act: and slate ￿'hether particular matters haN'e come to my attentRon. Basis of Independent Examiner'$ Statement My examination was carried out in accordance with the Generdl DiTe¢iions given by the Charity Commission. An examination includes a re￿IeW of the accounting records kept b}, the charity and a comparison of the accounts presented ￿1th those records. It also includes consideration of any unusual items or disclosures in the accounts. and seeking explanalions from the management committee concerning any such matters. The procedures undertaken do not provide all the evidence that ￿'OUld be required in a full audil. and consequently I do not express an audit opinion on the Accounts. Independent Exydminer's Statement In connection with my examinatioft¥ no matters have come to our attention: I ) Ivhich give me reasonable cause to believe that in any material resrrtt the requirements to keep accounting records in accordance with s. 130 of the 2011 Act; or to prepare accounts Vihich accord with these accounting records have not been mel. or 2) to which. in my opinion. attention should accounts to be reached. dra￿￿ in order to enable a proper understanding of the Andrew Farr FCCA Dawe, Hawken & Dodd, Chartered Certified A¢¢oulltsn 52 Fore Stree( C*lliDgtoll, Cornwall. PL17 7AJ Dated: * Augu5L 2024 Page 9 Church Of Impact Limited Statement of Financial Activities Year Ended 31st December 2023 Unregtrfj¢¢•(l ￿SIgn•t￿lI R•strfctsd Fun4$ Fund• Fund• Total 2023 Total 2022 INCOMING RESOURCES Voluntary income Income Irtsm minislritss and fundraising Income from charitablè acllvilles Othgr in￿ming resourc88 Invgslmenl income 2a 79,620 6,620 86,240 39,066 2b 20 2d 2e 420,185 420.185 3.448 416.591 18,702 £83,068 £426,806 £0 £S09,873 £472,379 RESOURCES USED Outrlard givin9 Church activities Charitable & anclllary Ir8ding Managem&nt and admini$lralion Depreclalion 3a 3b 10,944 132 10,944 132 372,Cfj8 98,620 8.021 £1.073 £487.786 5,789 372,088 383,120 100,638 9,8e1 £499,428 3d 3e 95,547 1,816 £108.439 1,073 6,205 £378,273 NET INCOMING I IOUTGOINGI RESOURCES 126,3711 48,532 11,0731 22,088 127,0491 GROSS TRANSFERS BETWEEN FUNDS 24,000 {24,0001 NET MOVEMENT IN FUNDS 1£1.3711 £24,532 1£1,0731 £22.088 127,0491 Brought forward 181 January 2023 271.169 74.473 1,292 346,934 £373,983 BALANCES AT 31st DECEMBER 2023 £269,798 £99,005 £219 £369,022 £346,934 Page 10 Chureh Of Impact Limited Balance Sheet As at 31st December 2023 Total Totsl 2022 Fund FLtrMIs Fund¥ 2023 FIXED ASSETS Tangible fixed assets Inveslm8nl assets 15,061 324,041 331.483 £308,960 £15.081 £324,041 £331.463 CURRENT ASS￿8 Debtors & prepaYW￿nts Short temi dep08its Cash al bank aTrJ in hand 31,818 31,818 39,687 4,482 £4,482 SB,295 £90,113 219 £219 62,996 26.e47 £94.814 £66.340 CURRENT LIABILITIES Amounts falling due within on• year 3,619 £863 6,189 £83.924 9.920 £85,006 £56,420 NET CURRENT ASSETS £219 TOTAL ASSETS Less CURIIÉNT UABlL￿1ES 309.623 99,￿5 219 409,047 387,883 CREDITORS: Am¢>unts hlling due aft•r mor* Ih•n one ye•r NET ASSErs 40.025 £269,798 40,025 40,949 £369.022 £346,934 £219 FUNDS Opening bala￿85 SuWu511￿CltI 271,169 11,3711 74.473 24,532 1.292 11.0731 346.934 373,983 22.068 991 £2S9.798 £99,005 £219 £369,022 £374,974 For the year ending 3111212023 the Ill￿￿nY was enlilled to exemption from audrt under SeLtion 477 oflhe Companies AL# 2006 relating to Small o)mpanie$. The mgmbors havo rnt r8quire(l the c£thpany to obtain an audit of its acCO￿ts for the year in accordance with Seth'on 476. The direc#ors ad(nrh•ledge their respOr￿IblENieS for comthng With the requinxents oftr* Act wth respe(* to accounting records and the preparalion of accounts. These aco)unts have been prepared in a¢(X)rda￿ ￿1h the kyovisions applicable to cyjnpanies subjec* to the small companies'regime,. Approved by the Church Counal Meeting held on 14JQ and signed on its behalf by.. S Cass Director Page t1 Church Of Impact Limited Notes to the Financial Statements Year Ended 31st December 2023 ACCOUNTING POLICIES Basis of aeeounting The Financial Statements hai'e been prepared in accordance ￿'1th applicable accounting standards and the Charities Statement of Recommended Practice (SORP} 2005. They have also been prepared under the historical cost convention. including the ￿'alue shown for the freehold land and buildings 0￿￿ed b), Church of Impaci Limiled .The accounts include all transactions, assets and liabililies for which the direc10￿ are reswnsible in law. They do not include the accounts of church groups that owe their main affiliation to another body nor those that are informal gatherings of Church members. Change in basis of accounting There has been no change to the accounting p)licies (valuation rules and methods of accouniing) since lasi )'ear. Changes to previous accounts No changJes hai'e been made lo accounts for p￿VIouS years. Incoming Resources k(Jlunlary income and capilal sourLes Tithes and Offerings are recognised when received by OT on behalf of the Church. SpeciaI offerings are recognised ￿'hen receii'ed bj and on behalf of the Church. Incoming resources from reclaims are included on the SOFA at the same time as the gift to which they relate. Oiher ordinary income Sundry receipts of income are accounted for when received. Jncomefrom invesimeni3 Dividends and inierest are accounted for ￿hen received. Tax recoverable on such incorne is recognised in the same accounting Jear. Gains and los.se5 on ini'eslmenis Realised gains or105ses are rttognised when investments are sold. Unrealised gains or losses are accounied for on revaluation of investments at 31 December. Resource5 used Ouhvard Gii'ing These are accounted for when paid over. or when awarded, if that award creates a binding obligation on the Church Council. Aclivi¢ies directly relaling lo the work ofihe church These are accounted for when actually paid out. Page 12 Church of Impact Limited Notes to the Financial Statements Year ended 3 Isl December 2023 2 INCOMING RESOURCES Unrestrlcted t)08lgnated Ro8trtct8d Fund• FuThls Fund$ Totsl Funds 2023 2022 2a Voluntary Incom• Tilhe$. offerings and donations Tax refunds 69,655 9.965 £79 620 6.620 76,275 36,471 9.965 2.615 86.240 £39.086 £6.620 2b Incorne from mlnlstrles & fundr•l•lng Saltssh Church Youth and children's ministry £0 2c Income from ch•rttabl• •¢tlvttl•8 Greenbank Care Impact Café Connect 262.688 157.497 262,688 300,527 157.497 116.C64 £420.185 £420.185 £416.591 2d Other Incomlng resourc Income from fees el¢. Grants received (incl Furlough} Sundry income 13.958 3.448 2,744 £3.448 £16.702 3.448 £3.448 2e Incom• from Inv•stments Bank Interest received Dividends r￿1Ved TOTAL INCOMING RESOURCES £83,068 £426,805 £0 £509.873 £472,379 Page 13 Church Of Impact Limited Notes to the Financial SlatemeDIs Year ended 3151 December 2023 3 RESOURCES USED U￿￿trICted Desiyn•ted Re•trl¢ted F¥nd8 Fun¢1 Funds Totsl 2023 Totsl 2022 3a Outward Giving Tithes and offering¥ Gifts to missionanes & ¥isrting ministers Mission. Pastoral Care. OutreaL* & HosFxtalrty 3.975 3,975 550 6.419 £10,944 6.419 1.829 £5.789 £10.944 3b Churth Activltles TeachirrfJ, Mission 8 Ministy Youth & childrens ministry Sattash Churc Little Rainb(r*s 132 132 £132 £132 £0 3c Charitsble •nd Ancillory Trading Greenbank ca￿.. Wages & Sala￿9 AL1minislrati Irtsurar Training Mileage Costs sU￿J￿es Minibus Fee5 8 Sutscriptws Bad t)ebts Impa 250.529 4.993 250,529 262.986 4,993 5,358 1.596 2.697 17.231 4,163 8.931 3.879 918 12.750 4.625 lo,4￿) 918 12,750 4.625 10.490 440 82.833 82.833 76,299 £372,C68 £383,120 £372, 3d Managefflent & Administration Electricity & Gas Water ch8rge$ Telephone & Intemet RtcydirrfJ & waste dispwl Consumables offi￿ & adminis¢rats"on Insurance Fees & Subscnptions Conferences & trainiThJ G.C.C Salaries, PAYE & pensior Property maintenan Eouipment maintenan Loan interest MarketiThJ Ind re-brandiThJ Surklry experws 3,g61 631 3.961 631 5,542 628 211 1,291 49 2,545 1.772 45 303 1,805 3,961 3.379 60.251 10,099 797 1,772 1.791 2,725 628 76,472 3.749 3.961 3,379 60.251 1,073 797 3.245 3,245 8S¥) 1.976 2.936 £95.547 2,g36 £96,620 £100.638 £0 £1.073 3e Flxed Asset Depreclatlon Lossllprofitl on disposal Equipment 1.445 8,436 £9,881 1.816 £1.816 8.021 £6 205 £8.021 TOTAL RESOURCES EXPENDED £108,439 £378,273 £1.073 £487,786 £499,428 Page 14 Church Of Impact Limited Notes to the Financial Statements Year ended 31st December 2023 FIXED ASSETS USED BY THE CHURCH 4a Tanglble Flxed Assèts Land and 8ulldlng$ Equlpment Veh1¢ Total Co•t Al 1st January 2023 Additions Oisposals At 31st December 2023 28,799 303,478 37.541 599 369,818 599 28.799 303.478 38.140 370.417 Depreclatlon Al 1$1 January 2023 Charge for the Year Relating to Disposals At 31st December 2023 11,520 5,760 26.835 2,261 38.355 8,021 17,280 29.096 46,376 N•t book valu• Al 31 sl December 2022 £17,279 £303.478 £10.706 £331,463 Al 31 st De¢6mbar 2023 £11,519 £303.478 £9.044 £324,041 The Freehold Land and Buildings brought forward compn5e of the Greenbank Community Church building in Greenbank Road.The values calculated from the onginal costs plus all expenditure incurred to renovate both the interior and externr of the building. Addit￿n?1 captsl expenditure 1$ shown when it is incurred. and general repairs and maintenance costs are shown as revenue expenditure in the income and expenditure accounL 5 Current A•8•ts Unmtri¢t•d D•sign•t•d R￿trict•d Fund• Fund• Funds Total Fund8 2023 2022 Sa D•btorn & prnpaymont• Prepayments Greenbank Care 1,555 38.132 £39.687 31,818 £31,818 31,818 £31.818 5b Short terni deposits Tracker Alc £0 £6 Page 15 Church Of Impact Limited Notes to the Financial Statements Year ended 31st December 2023 Ga CREDITORS due wlthln one year Unrestricted Designated Restricted Funds Funds Funds 1,800 T4)tsl Funds 2023 2022 Bank Loan due in 1 year Creditors 1.800 2,250 1,372 1,200 5.098 £9,920 Accruals Other Taxab'on & soc￿1 Secur 480 1.339 £3,619 700 5.489 £6.189 1,180 6.828 £9,808 Éo 6b CREDITORS due after more than one year Bank loan due in more than 1 year £40.025 £40,025 £40,949 7 STAFF COSTS Staff Costs during the year was as follo￿. 2023 375.545 20,454 £395.999 20 2022 398,S22 27,476 £425,998 22 Gross Pay Ernployers Nl AveTrJe number of empw dunng the year The followng Trustees were empbyed by the Chanty during the year.. Stephen Cassidy Senior Pastor David Bery Trustee 8 TRANSACTIONS WITH TRUSTEES AND RELATED PARTIES The amount of payment or reimbursement of out of pocket expenses made lo trustees and persons connected to the trustees duriring the year was as follcAvs. Name of Trustee Of related party Sarah Berry Stephen Cassidy David Berry Liliana Cassidy EABery 9 ACCOUNTANCY FEES Professional fees in resFect of Independent Examinat￿ of the Financial Statements. Description of the tran$act6on Care Managerfs Salary Senior Pastorfs Salary Salary Salary Salary R81ationship to Charity Wrfe of Charity Trustee Charity Trustee Chartty Trustee Wrfe of Charity Trustee Child of TnJstee Amount £37,792 £23,343 £9,094 £23,343 £4.456 2022 2023 £1.260 £1.200 Page 16 Church of Impact Limited Notes to the Financial Statements Year ended 31st December 2023 10 FUND DETAILS 100 Unrestrlcted Funds Unreslricled funds are not subject to any restrictions in regard their use and are 8vailable for applicats.on on the general purposes of the Church Council. 10b Dèslgnatsd Funds Designated funds represent those parts of unreslricled funds that the Church Council have designated for a speafie purpose. Name of Fund Greenbank Care Fund Minibus Fund Main Pur se of Fund Main Source of Income Funding Greenbank Care Ancillary trading Provision of minibus Grants & Donations Balance 99,005 £99.006 10c Restricted Funds Reslricled funds represent monies given for a specific purpose, and may only be used for th8t purpose. These funds are not available lo the Church Council for use towards the general running of the church. The various restricted funds and the balances held al 31 December 2023 are as follows. me of Fund Main Pu se of Fund Building Development Funi Renovations at GCC Lyle Fund Youth Work Main Source of Ineome Grants & donats'ons Grant 219 £219 Endowment Fundy There are no endowment funds held at pre$enl. 10d Movement of major funds Name of Fund Greenbank Care Fund Minibus Fund Building Development Func Lyte Fund 10d Brou ht Fwd 74,473 Income Ex 426,805 endilure 378,273 Transfers -24,000 Carried Fwd 99,005 1,073 219 1,073 219 Total Fun £75,765 £426.805 £379,346 -£24,000 £99.224 Page 17