ARGYLE COMMUNITY CHURCH READING FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Reglstered Charlty number 1143357 Company number 7714084
ARGYLE COMMUNI CHURCH REAOING FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 CONTENTS Pages Refence and Administrative Detai15 Trusteed Report Independent Examinerfs Report Statement of Financial Activities Balance Sheet io Notesto the Accounts 11-16
ARGYLE COMMUNITY CHURCH READING REFERENCE AND ADMINISTRATIVE OETAILS Charity number: 1143357 Company number: 7714084 Registered office: Argyle Community Church Argyle Road Reading Berkshire RGI 7YL Trustees: The following Trustees served during the year and up to the date of signing of the Trustee5 Report.. Hazel Andrews Cleve Chevassut Sartdy Forshaw (Chairman) Yvette Mukandori Christopher Rayer5 Jeremy Richardson Jonathan RoLtt Secretary: Christopher Rayers Treasurer: Pamela Richardson Independent Examiner: Andrew Geary Geary Partnership Chartered Accountants 159a Chase Side Enfield Middlesex EN2 OPW Principal bankers: CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME194JQ Solicitors: Lawson Lewis Blakers 11 Hyde Gardens Eèstbourne East Sussex 8N214PP
ARGYLE COMMUNITY CHURCH READING TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees Iwho are also directors of the charity for the purposes of the Companies Act) present their annual report together with the financial statements of the Argyle Community Church Reading Ithe Company) for the year ended 31 December 2023. The Trustees confirm that the Annual Report and financlal statements of the Company comply with the current statutory reqLFirements of the Company's governing document and the provisions of the Statement of Recommended Practice ISORPI Accounting and Reporting by Charities IFRS 1021, effective l January 2019. STRucfuRE. GOVERNANCE AND MANAGEMENT Constltutlon 'Argyle Community Church Reading, is registered as a charitable company and incorporated under the Companie5 Act 2006 as a private company that is limited bv Euarantee, with a registered office situated in England. The Company w3s set up by a Memorandum and Articles of Association on 21 July 2011 and does not have Share Capital. On 31 March 2012 the assets of The Bethel Trust and the Manse of Argyle Chapel Trust were transferred to the Charity. Organlsational structurei governance, risk management and decision making Argyle Community Church is an independent Bible-based Christian Church located in Argyle Road, Reading. We recognise under God a group of Elders who, with the guidance of the Holy Spirit, encourage the spiritual life of all members and provide leadership and direction in the Church's ministry. These Elders include a Pastor. jamie Cater, whose gift in teachin& pastoral care and outreach has been recognised by the Church, and is appointed and employed by the Church to exercise such a ministry. The Churth also employs a Youth and Children's Worker. Lizzie Starkey. who has overall responsibility for ministries to andlor involving young people land, where appropriate, their fhmiliesl although the ministries may be headed up by other church member5. The Church has a Treasurer who maintains the finantial accounts and produces annual predictions of expenditure needs,. additionally, she admini5ter5 gift5 to the Church, reclaims tax from HMRC for Gift Aided income. arranges the payment of staff (through Stewardship Services payroll systeml and payment of expenseslinvoices as nece55ary, and distributes monie5 in accordance with the wishe5 of the Elders. As a registered charitable companyi we also have a group of godly Trustees who are responsible for and carrv out their statutory duties as Directors of the Company. The Trustees have systems in place to identify and review the risks to which the charity 15 exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. To assist the Church and the Trustees with their governance responsibilities we subscribe to the Stewardship Advice Service for help with leg81 matters and thirtyone'.eight Iformerly CCPASI for matters relating to Safeguarding. We have a Safeguarding officer Nicola Bell who, together with her deputy Malcom Dodson, manages any safeguarding issues or concerns.
ARGYLE COMMUNITY CHURCH READING TRusfEES' REPORT, continued FOR THE YEAR ENDED 31 DECEMBER 2023 OBJEcfiv£s AND AcfiviTIES. ACHIEVEMENTS AND PERFORMANCE Objects and alms The purpose of the Church is the advancement of the Christian faith lin accordance with the Basi5 of Faith set out in the MemorandurTTr of As50ciationl in the surrounding neighbourhood. in Reading. in the United Kingdom and in overseas countries where we have connertions. Our Christian faith is given practical expre55ion in the local community and further afield through various forms of social action. COVID-19 legacv There was little evidence of Covid-19 protection measures durlng 2023.. services took place without any social distancing although bottles of sanitiser remained available at entrance doors. However, the Sunday morning service has continued to be live-streamed on YouTube - we started in March 2020- see http5-/lyoutube.comlargylecommunitychurch; indeed the streaming technology we use Ivmixl has allowed us to include a live sermon presentation from Brazil as well as pre-recorded sermons when a speaker could not be present. Although not live-streamed we were also able to make available online the video of a service we held outdoors in the summer. Additionally, variou5 meetings have continued to use Zoom lor a hybrid of Zoom/live attendance) where this makes practical sense. for example.. Elders, prayer meetings at 7:30am on a Friday morning, or lifegroup or evening prayer meetings in the winter months. Worship and servlce Our main act of corporate worship is on a Sunday morning, with a combination of singin& prayers. teaching and other supporting content, with separate activities IL-Zone and T-zonel for young people during part of the setwice. Although structured this is a generally informal time. As mentioned above, this service is live-streamed on YouTube. Communion Ithe Lord's Supper) is normally celebrated pvery week, either in the Sunday morning service or a5 part of a Sunday evening prayer meeting. Since 2020, we have moved from sharing a common loaf and common cup to separate pieces of bread and individual glasses whilst still recognising the solemnity and unitv of the sacrament. Other meetings for prayer, Bible study, fellowship and mutual support a held at various times during the week. Certain Sundays during 2023 were designated 'Label Sundays, when we wore name labels and got to know other members of the church; our seryice on 23rd April celebrated ten years since the Completion of our building project which greatly updated the church building,. and on 7th May our service incorporated special prayers as we celebrated the Coronation of King Charle$111.
ARGYLE COMMUNrrY CHURCH READING TRUSTEES. REPORT. Continued FOR THE YEAR ENDED 31 DECEMBER 2023 Publlc benefft We look to be active in our community seeking to help our neighbours through friendship and social action, providing artivities designed for young and old. men and women, families and the many different nationalities that live nearby. To this end each week we run.. English Language classe5 for Internationals term-time only I'Bridges'1,' parent/carer and toddlers group I'HoneypoVI- weekly pre-booking is required to ensure numbers are manageable- a parenvcarer and baby group I'Little Bees'l- no booking has been needed for this,. a youth evening 'Connect' (for year 95 and above),. a debt counselling Service, in partnership with 'Frontline'. With support from other local churches we host an international cafe, 'iCaf, twice monthly in a local coffee shop,. thi5 is a Social event primarily for internationals, giving them an opportunity to use English in an informal setting. Along with other churches we are a full partner of Torch Ihttps'.Iltorchhub.org.ukl which offer5'A helpinB hand from local churches. to those in need in our area. Throughout the year we hold regular and irregular social events, such as a men's breakfast lat the local IKEA), a ladies, coffee morning, ar*d men's and ladies, walks. The church bltilding and its facilities have also been available. subject to certain criteria, for use by individuals and local or national organisations for private use such as parties, meetings or conferences. Our live-streaming capability has also been helpful when the building has been used for a number of funerals in 2023. We also regularly support, both financially and prayerfvlly= local social action organi5ations such as 'Chri5tian Community Action, Ifrniture exchanEe and social care advice),. Christian organisations working in Reading sthools, such as'Reach' and 'RElnspired'; Christ13n workers with whom we have particulor contact, in the UK and around the world. In 2023 we supported the TearFund 'Big Quiz Night, and raised over £650 for this organisation. As a result of the above activities and links, there are tangible benefits in personal and family relationships including those affected by drug and alcohol related problems, as well as deeper spiritual relationships for all.
ARGYLE COMMUNITY CHURCH READING TRusfEES' REPORT. continued FOR THE YEAR ENDED 31 DECEMBER 2023 Integration of Hong Kong church members One of our'straplines, is 'A church for all nations. and we a pleased to welcome worshippers of many natlonallties from across the world. From September 2021 in particular a number ol immigrants from Hong Kong have joined us and become an integral part of the fellowship. joining rotas and helping lead services,. a Cantonese-speaking lifegroup meet5 twice a month and a Cantonese-language Alpha course is planned. No separate Cantonese fellowship is planned. To help those in the church who are from Hong Kong- and their friends/contacts- settle here we have run a number of Welcome Courses, in conjunction with the UKHK organi5ation. explaining about healthcare and other aspects of life in the UK. New website In March 2023 we re-launcFied our website Ihttps.'//www.argylecommunity.chur¢hl, incorporating the rebranding (new logo, colours and fonts) which had been developed in 2022. Alongside information about the church and its activities, and links to the services and sermons, this includes a link to an external Google calendar for greater flexibility as well as a Member5-only area for centralised information access and management le.g. church directory, rotas, policies- and annual reportsll. The website 15 also integrated with Mailchimp through which the weekly news-5heet is produced and subscriptions are managed. Exceptional financial expenditure It ha5 become apparent in recent years that the external fire escape steps le3ding from the upper room at the south end of the building needed replacing, and this will be a major item of expenditure. probably in 2024. However, the design of the new fire escape has ne¢esSltated upgrading some windows to make them fire- resistant and this has led to an initial cost of around £8,000 in 2023. The current fire escape remains useable but mitigating measures have been put in place to reduce the risk of using it. We have also experienced problems with the lights in the main hall= not only were they not energy-efficient with replacement parts almost impossible to obtain, some of them have failed in a potentially dangerous way. During 2023 they have been replaced, taking advantage of modern technology to reduce running costs and improve flexibility,. this project cost around £12,OCIO. Both these items are major contributory factors in our larger than usual expenditure this year las next yearfs continued expenditure on the fire escape wi51 bel,. however, we have been land anticipate will bel able to fund them using reserves and a generous legacy without affecting OLsr principle of retaining a cash buffer of three months, planned expenditure.
ARGYLE COMMUNITY CHURCH READING TRusfEES' REPORT. continued FOR THE YEAR ENDED 31 DECEMBER 2023 Method of appolntment or election of Trustees The arrangements for the appointment, retirement and removal of Tru5tee5/Directors are set out in the Memorandum and Articles of Association. Safeguarding Pollcv Our Safeguarcllng Policy reflects current UK legislation in relation to safeguarding children and vulnerable adults and implements good practice recommendations. It is Constantly reviewed in the light of change5 to the safeguarding standards developed by the thirtyone:eight organi53tionlformerly CCPASI. Data Protectlon Policy Our Data Protertion Policy aims to ensure compliance with the requirements of General Data Protection Regulation legislation. We are registered with the Information Commi5sionerf5 Office Iregistration number ZA4363861. FINANCIAL REVIEW Income and expenditure The Church's income and expenditure for the year are Set out in the Statement of Financial Activities on page 9. The Trustees report a deficit for the year of £40,31012022- deficit of £55,536). The Church is principally financed by regular monthly donations from members, augmented by giving to specific appeals when need is identified. The regular giving is sufficient to cover the regular running costs of church activities. The Church's primary asset 15 an unencumbered freehold building which is gaining in value although it is being depreciated at 2% per annum. The Church maintains a healthy cash balance - £97,557 at 31 December 2023112022 - £97,585). Reser¥es pollcy The Trustees aim to maintain free reserves equivalent to three month5 average giving to the general fund, which equates to £30,000. These funds are to ensure that the Church activities can continue as planned in the case of unforeseen circumstance5 or a sudden reduction in regular giving. Financial reports to Tnjstees, meetings always include details of the level of free resee$ to ensure that spending decisions are made in accordance with the polity. The Reserves policy is reviewed annually.
ARGYLE COMMUNITY CHURCH READING TRUSTEES. REPORT. continued FOR THE YEAR ENDED 31 DECEMBER 2023 Statement of Trustees, responsibilities The Trustees, who are Directors for the purposes of company law, are responsible for preparing the annual report and the accounts in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Company law and the law applied to charities in England and Wales requires the Trustee5 to prepare financial statement5 for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incorning resources and application of resources, including the income and expenditure, of the charttable company for that year. In preparingthose financial statements, the Trustees are required to.. selert suitable accounting policies and apply them consistently,. observe the methods and principles of the Charities Statement of Recommended Practice,. make judgments and estimates that are reasonable and prudent,. state whether applicable UK Accounting Standards have been followed, subject to any material departure5 disclosed and explained in the financial statements; and prepare the accounts on the going concern basis unless it is inappropriate to presume that the charitable company will contbnue in operation. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial p051tion of the charitable company, and enable them to ensure that the financial statements comply with the Companies Act 26. They are also responsible for safeguarding the assets of the charitable company ?nd hence for tsking reasonable 5tep5 for the prevention and detection of fraud and other irregulaiities. Small company provisions This report has been prepared in accordance with the provisions in Part 15 of the Companies Att 2LX)6 applicable to companies subject to the small companie5 re8ime. and signed on their behalf by- Sarsdy Forshaw Ichairmanl
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ARGYLE COMMUNITY CHURCH READING I rewrt to the charity Trustees on my examination of the accounts of Argyle Community Church Reading for the vear ended 310ecember 2023, which a set out on pages 9 to 16. Responsibilities and basis of report As the charity Trustees of the Churth land also it5 directors for the purposes of company lawl, you are responsible for the preparation of the accounts accordance with the requirement5 of the Companie5 Act 20061.the 2CQ6 ACVI. Having satlsfied myself that the accounts of the Church are not required to be audited under Part 16 of the 2LK)6 Act and are eligible for independent examination, I report in respect of my examination of your Church's accounts as carried out under sertion 145 of the Charities Act 20111.the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent Examinerfs statement I have completed my examination. I confirm that no Tnaterial matters have tome to my attention in connertion with the examination Eiving me cause to believe that in any material respect: 111 accounting records were not kept in respect of the Church as required by section 386 of the 2(K)6 Act,. or 121 the accounts do not accord with those records; or 131 the actounts do not comply with the accounting requirements of settion 396 of the 2CK16 Act other than any requirement that the accoLtnts give 3 'true and fairf view which is not a Matter considered as part of an indeper¢dent examination- or 141 the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities lapplicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ire13nd IFRS 10211. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. drew Gea Chartered Accountant Geary Partnership Chartered Accountants IS9a Chase Side, Enfield, EN2 OPW Date-
ARGYLE COMMUNITY CHURCH READING STATEMENT OF FINANCIAL A1VITIEs FOR THE YEAR ENDED 310ECEMBER 2023 Total funds 2023 Total funds 2022 Unrestrlcted Deslgnated RestrktedRevaluatlon fund5 funds funds reserve Notes INCOME AND EXPENDITURE Income Doriations and legacies Income frorn chafltable activitie5 Investment income Other Income 129.547 2,703 1,166 2.495 5.600 135.147 2,703 1,166 2.495 112,849 2.415 227 2,264 Totsl Income 135,911 5.600 141,511 117,755 Expendlture Charitable attivities 101,443 31.155 27.076 22.147 181,821 173,291 Totsl expendlture 101,443 31,155 27,076 22,147 181,821 173.291 Net incomellexpendltvrtl before transfers 34,468 131,1551 121,4761 122,1471 140,3101 155.5361 Transfer5 between funds 135.1671 31.155 4,012 Net InMe/(eXpend1tUrel before other gain51110sses1 16991 117,4641 122,1471 140.3101 155.5361 Other re¢o8nlsed 8alnslllossesl Net movement in funds 16991 117,4641 122,147) 140,3101 155,5361 RECONCILIATION OF FUNDS Total funds brought forward at l January 2023 729,479 30,948 885.396 1,645,823 1.701.359 Total funds carried forward at 31 Decen7ber 2023 728,780 13,484 863,249 I.(5,513 1,645,823
ARGYLE COMMUNITY CHURCH READING BALANCE SHEET AT 31 DECEMBER 2023 2023 2022 Notes Flxed assets Tangible assets 1,501,875 1,541,396 Current assets Debtors Cash at bank and in hand 7,587 97,SS7 8,372 97,585 105,144 105,957 Creditors: amounts falllng due wrthin one year 11,5061 11,5301 Net current a$5ets 103,638 104,427 Total assets less Current liabilities 1,605,513 1,645,823 Net assets 1,605,513 1,645,823 Fynds Ur¢restricted funds Revaluation reserve Designated funds Restricted funds 728,780 863,249 729,479 885,396 13,484 30,948 1,605,513 1,645.823 The accounts have been prepared in accordance with the provisions of 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK IFRS 1021, leffective I january 20191- For the year ended 31 December 2023, the company was entitled to exemption from audit under section 477 of the Companies Act 2006, and no notice has been deposited under sertion 476. The Trustees, who are also the directors of the company, acknowledge their responsibility for tomplying with the requirements of the Act with respect to accounting record5 and preparation of accounts. Approved by the Board of Trustees on and signed on their behalf by.. Sandy Forshaw Trustee io
ARGYLE COMMUNITY CHURCH READING NOTES TO THE ACCOUNTS FOR THE Y&4R ENOED 31 DECEMBER 2023 I ACCOUNTING POLICIES l Basis of preparation The account5 have been prepared under the historical cost convention as modified by the revaluation of freehold properties and improvements, and in accordance with 'Ac¢ounting and Reporting by Charities.. Statement of Recommended Practice applicable to Charities preparing their accounts sn accordance with the Finanaal Reporting Standard applicable in the UK IFRS 1021 (effective l January 20191,. bl Income Income is included in the StateFnent of Finantial ACtiv¢eS when the charty 15 leIlY entitled to the income and the amount can be quantified with re350nable accuracy. cl Expendlture All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to attivities. Where costs cannot be directty attributed to particular actiwties they have been allocated on a basis consistent with the use of the resour. Expenditure on tharitable aLlwities comprises all expenditure incurred directfy in pursuance of the church's charitable objectives. Governance costs are those costs incurred in connection with administration ol the charity and compliance with constitutional and statutory requirements, and include depreciation of fixed assets. dl Nmed assets and depreciation Fixed assets are stated at cost or, in the tase of certain freehold properties, at valuation, less accurnulated depreciation. Gains or 105ses arising on revaluation 3re taken to a revaluation reserve. Depreciation has been provided atthe followtng raies in order ro write off assets over their estimated useful lives.. Land and buildings- 2% straig+Trt line That portSon of the depreciation charge whkh relates to the uplift arlslng from a revaluation Is tharged to the revaluation reserve. el Fund accounting Designated funds are part of unrestiicted funds that a expenilable at the disuetion of the Trustees in furtherance of the Church'5 charitable objective5. Unrestricted funds that are earmarked for a particular project may be designated as a separate fund, but these have an administrative purpose only. and do not re5trici the Tru5tees' discretion to apply the fund. The maluation reserve lsee note Ildl above) is atso part of unresvicted funds. Restritted funds 3re fndS subjett to specific trusts. which may be declar by their donor5. or with the authorty sueh as a public appeal, or created through legal process, but still within the wtder objects of the charity. Restritted funds may be restricted income funds or may a150 be tspital funds where the assets ale quired to be invested, or ained for actual use rather than expended, li
ARGYLE COMMUNITY CfrIURCH READING NOTES TO THE ACCOUNTS. continued FOR THE YEAR ENDED 31 DECEMBER 2023 2 INCOMING RESOURCES Total funds 2023 Total funds 2022 Unrestri£ted Designated Restricted Revaluation Funds funds fund5 rèserve Donations and legacies Donations Legacies Gift Aid tax recovered 115,165 5,600 120,765 99,663 14,382 14.382 13,186 129,547 5,600 135,147 112,849 Income from charitable activities Charitable activity receipts lincome from charitable activities relates directly to social and church events during the yearl 2,703 2,703 2,415 Investment Income Interest receivable 1,166 1,166 227 Other income Other income 2,495 2,495 2,264 3 RESOURCES EXPENDED Total funds 2023 Total funds 2022 Unrestricted Deslgnated Restrlcted Revaluatlon Fund5 funds funds reserve Charitable activities Staff costs Isee note below) Mi55ion costs Grants Disaster relief Depreciation of buildings Building maintenance, insurance and utilities Other costs Governance costs.. Actountancy fees 38,977 21,156 700 60,133 31,855 59,019 33,353 7,500 31,155 17.374 22.147 39,521 39,521 28,990 14,899 5,C()O 220 33,990 15,119 13,753 18,962 1,203 1,203 1,183 101,443 31,155 27,076 22,147 181.821 173,291 12
ARGYLE COMMUNITY CHURCH READING NOTES TO THE ACCOUNTS, corrtinued FOR THEVEAR ENDE031 DECEMBER2023 4 STAFF COSTS 2023 2022 Wages and salaries, including benefits in kind Social security costs Pension c05t5 55,565 347 4,221 54,977 4,041 60,133 59,018 The average number of employees during the year was 212022- 21. 5 TANGIBLE FIXED ASss Land and buildings Totsl Cost/valuation At l January 2023 and 31 December 2023 1,976,058 1,976,058 Depreciation At I january 2023 Charge for the year 434,662 39,521 434.662 39,521 At 31 December 2023 474,183 474,183 Net book value At 31 December 2023 1,501.875 1,501,875 At 31 December 2022 1,541,396 1,541.396 The Church'5 freehold propertie5 and other interests in land were capitalised in the financial statements at their original historical cost. The church was opened in 1959 and the cost of the land and bLJildings was £12.307. The manse at 8 Deepdene Close was Fiurcha5ed in 1986 at a cost of £73.058. The church Ibut not the manse) was revalued by the Trustees on 21 April 2013 at its insured value of £1,903,000. Depreciation 15 being applied to this valuation at a rate of 2% per annum on a straight line basis commencing with the year ended 31 December 2013. The depreciation charge for the year on a historical cost basis would amount to £17,37412022 £17,374) and the net book value of land and buildings on a historical cost basis would be £638,626 at 31 December 202212022- £656,000). 13
ARGYLE COMMUNITY CHURCH READING NOTES TO THE ACCOUNTS continued FOR THE YEAR ENDED 31 DECEMBER 2023 6 DEBTORS 2023 2022 Other debtors 7.587 8,372 7 CREDITORS: Amounts falling due wlthin one year 2023 2022 Accrua15 1,506 1,530 14
ARGYLE COMMUNITY CHURCH READING NOTES TO THE ACCOUNTS, ¢ontlnued FOR THE YEAR ENDED 31 DECEMBER 2023 STATEMENT OF FUNDS Brought Forward Incomlng resources Resources expended Transfers inlloutl Carried fonvard Unrestricted funds General Fund 729,479 135,911 1101,4431 135,1671 728,780 Revaluation Reserve 885,396 122,1471 863,249 Design*ed funds Missionary Fund 131,1551 31,155 Restricted funds Dlsaster Relief Fund International Worker Fund Missionary Fund Building Fund Hardship Fund Church Worker Fund 1441 16001 500 8,960 l(X) 500 17001 15,0001 12201 121,1561 9,200 4,504 16.940 4.284 4,216 30,948 127,0761 4,012 13.484 Total funds 1,645,823 141,511 1181,8211 1,605,513 The Disaster Rellef Fund 15 for offering5 in response to major disasters le.g. earthqLsakes/floodingl for which specific appeals are made. The International Worker Fund supports workers reaching OL¢t to the international communsty in Reading. The Missionary Fund supports 3 number of mi5sionarie5 in the UK and overseas by means of monthly or annual giving together with one off support to young people on short term projects. The Building Fund is for specific gifts donated in support of major building maintenance projects proposed by the Trustees. The Hardship Fund is to alleviate temporary financial needs of people who are known to Argyle through one of the Church's meetings or ministries. The Church Worker Fund is used towards the costs of an additional church worker who complement5 the ministry of the Pastor. 15
ARGYLE COMMUNITY CHURCH AEAOING NOTES TO THE ACCOUNTS. continued FOR THE YEAR ENDED 31 DECEMBER 2023 9 ANALYSIS OF ASS5 BEnVEEN FUNDS Unrestricted Funds Designated funds Restritted funds Revaluatlon Total fund$ reserve Tangible fixed assets Current assets Creditors due within one year 638,626 91,660 I1,5(> 863,249 1,501,875 105,144 11,5061 13,484 728,780 13,484 863,249 1,605,513 10 RELATED PARTY TRANSAclloNS l. During the year expenses incurred on behalf of the charity were reimbLtrsed to Trustee5 and persons connected with the Trustees in the following amounts.. l Rout- £735 S Forshaw. £423 C Rayers- É1,118 J Rayers (wife of C Rayersl- £263 P Richar(Json (wife of J Richardsonl- E120 2. During the year, the following gifts were made to persons connerted with the Trustees in pursuance of the Churth's charitable obje¢tives'. P Rout (son of l Routl- £6,000 Imissionary support) 16