COMPANY REGISTRATION NUMBER: 07738949 (England & Wales) CHARITY REGISTRATION NUMBER: 01143499 Swanfield Chapel Company Limited by Guarantee Trustees, Report and Financial Statements For The Year Ended 31 December 2024
Swanfield Chapel Company Limited by Guarantee Trustees. Report and Financial Statements Year Ended 31 Docomber 2024 Pages Trustees, report (incorporating the directors, reporti 1to6 Independent examiner's report Statement of financial activities (including incomé and expenditure account) Balance Sheet Notes to the financial ststemenls 10t016
Swanfield Chapel Company Limited by Guarantee Trustees. Report {Incorporating the Directors, Report) Year Ended 31 Docomber 2024 The Iruslees, who are also the directors foi the purposes of wtnpany law. pie5ent their report and the financial statements of the charity for the year ended 31 December 2024. Rèfèrèncè and administrativè dètails Company registration number 07738949 Charity registration number 01143499 Website www.swanfieldch8pel.org.uk Facebook @swanfieldchapelchi. Registered office 117 Swanfield Drive Chichester West Sussex P019 6TD Pastor steve Davies Tru$tr*s Trevor James Lee Jerromes Euan Menzies Tom Strivens David Thurlow David Wakeford Rob Wakeford Ichairmanl (Appointed May 20241 Company secretary David Thurlow Eldors Steve Davies Jon Taylor Deacons Gilly Blacklee Jon Bull Wendy Dearfing Tom Strivens (Appointed February 2024 Resigned August 20251 IAppoinled March 20251 Treasurer Trevor James Independent Examiner James Tickell Bsc FCA 21 Southdown Road w3teilooville Hants P08 OET Banker¥ CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
Swanfield Chapel Company Limited by Guarantee Trustees. Report {Incorporating the Directors, Report) Year Ended 31 Docomber 2024 Structure, governance and management Company and Charity Status Swanfield Chapel I'the Charity.) is a company limited by guarantee and is governed by its Articles of Association. It was ineorporated on 12 August 2011 and was registered with thè Charity Commission in England and Wales on 23 August 2011. The Iruslees are the meTnbers of the Charity. They have no shareholdings but in the event of a winding up each has undertaken to contribute lo the payment of liabilities such an amoLJnt as may bè rèquirèd not excèèdin9 a total of £10. Structure Swanfield Chapel is an evangelical church that from 1938 to 1972 met in Chapel Street, Chichester and from 1972 onwards in Swanfield Diive, Chichestei. It was governed by a trust deed dated 12 January 1938 Ithè "Old Gharity"). On 12 August 2011 the Trustees iegislered a charitable company limited by guarantee Ilhe "New Charity"). On 1 January 2012 the activities of the Old Charity and its assets and liabilities, with the exception of the church building, were transferred to the New Charity. The church building remains in the Old Charity because the 1938 trLJSt does not contain the power to transfer this asset. The New Charity has been granted an inforrnal licence lo occupy the building and has taken iesponsibilrty for 115 repair and insuran. In October 2017 the New Charrty was appointed the sole trustee of the Old Charity. In this report the words "Chapel. and"Charity° are used to describe the occupying and operating entity. Recruitment, AppoNnlment and TraNnNng of Tfusle85 Trustees are recruited from those who share the Charity's aims and aspirations and who, in accordance with the Charity's Articles. sign up to. 8bide by and live in accordance wrth the Charity's slalemenl of lailh. They rnU5t also have won the confidence of the rnerllbers of the Chapel through their commitment and conduct and rnusl be able lo bring a breadth and depth of experience and skills lo the trustee body. Prior to appointment Trustees are briefed on the Charity's activities and complete Fit and Proper Person forms and Declarations ol Interests. They lake seriously the obligation lo maintain their knowledge. Tom Strivens, a member of the Chapel, was appointed as a Iruslee in May 2024. Risk Management The Trustees have identified the major risks to which they believe the Gharily is exposed and systems have been established to minimise those risks. The risks are formally reviewed at each trustees, meeting. The principal risks relate to the building and to the aetivrfties carried out In the building. In May 2019 the Trustees received safeguarding training to ensure they understood their responsibilities in this area. Following a health and safety review a programrne of works was started to address sundry issues. Govemance The overall ie5ponsibility for the Chapel rest5 with the Tiuslees who mel once during the year lo ie¢eive reports on the Chapel's activities. The day lo day operating decisions rest with the Elders who meet formally On each month and who informally are in constant communication with each other. Deacons, who are responsible lor practical matters, support the Elders and meet with them each quarter. The Bible gwes clear guidance that Christians should be above reproach in all they do. Seeking to apply this Biblical imperative the Trustees endeavour to apply the Charity Governance Code and Ihe Nolan principles (selflessness, integrity, objectivity, accountability, openness, honesty and leadership). Furthermore believing that corruption. bribery and unfair actions harnper development and impede piogiess they insist on integrity in all of the Gharily's activities.
Swanfield Chapel Company Limited by Guarantee Trustees. Report {Incorporating the Directors, Report) Year Ended 31 Docomber 2024 Objectives and activities The Chapel seeks lo honour God and demonstrate the Christian faith in 8clion by acting as a church in the comrnunily and through support for missionary work both in the United Kingdom and overseas. This is achieved by". holding senrices for worship". preaching and expounding the word of God, the Bible., holding meetings for the instruction of adults. young people and children in the word of God,. reaching out to those not of the Christian faith to make Christ known., encouraging interest in missionary activities. Publlc bèn&fit The Iruslees have paid due regard to the Charity Cornmi5sion's guidance on public benerrt. They strongly believe in the public benefit of services for the worship of God, and the public benefit of activities which promote the Word of God and lead people to faith in the Lord Jesus Christ as their Saviour. Individua15 are laughl lo be responsible, to contribute lo the weware of society, to respect the autrorilies in sooiely, and lo show genuine care for their neighbours and the enwronrnent. The practical benefit come5 through promoting happy marriages and homes where children experience love and care and grow up to become good citizens and iri the provision of support to those in need. Achievements and perfomiance Thè Chapèl's activitiès during thé yèar inelud8d". Service5 al 10.30am each Sunday morning, which were a150 available rernolety using Zoom for those unable to attend in person and as sound recordings on the Chapel's website., Life Exhibition, for junior school children., Children's activities dLJring the Sunday morning service., Ladies Bible studies on alternate Wednesdays., Remote prayer meetings using Zoom on alternate Thursday evenings., Home Bible Studies in person and on Zoom lincluding a Spanish group}., Toddler Group each Friday morning during Spring and Summer tèrms", Crossroads, a monthly group for school pupils in year 7 and above., Hot Potato. a monthly lunch on Wèdnesdays with an invited speaker," Step In, a monthly group for year 3 to 7 schcKJl pupils., Craft Group on alleinate Friday afternoons.. Monthly prayer meeting for the Elders and Deacons., Half-term Children's Holiday Club in February.. Good Friday Hot Cross Bun distribution in City Centre (with other churches)., Easter Saturday activily for families and the cornmunity., Advent Songs of Praise., Spanish language Carol Service Board Games Night on 28 JanLJary', Quiz Night on 21 October., Fireworks and a bonfire on 4 November". Carols by candle light service on Christmas Eve., Facebook pagè.
Swanfield Chapel Company Limited by Guarantee Trustees. Report {Incorporating the Directors, Report) Year Ended 31 Docomber 2024 With Christians from other Chichester churches members of the Chapel participated in joint activities including the Chichester District Foodbank and the Chichester Cathedral Bell Tower Youth Dropln. All meetings ale open to the public and lo ensure no one is prevented fiotn attending the Chapel does not charge for any activity. Chur¢h Attendan¢e Appioximalely 55 adults and children attended the Ch8pel's Sund8y services regulaily. 11 is eslimaled th81 dLJring the year a total of 150 people were present at an activity either in the building or on Zoom and that in addition 320 sthool children attended the Life Exhibition. Pastoral support The Pastor Steve Davies, Jon Taybr, the Elder, and the Deacons together with other members of the Chapel endeavoured to provide pastoral support throughoLJt the year. Volunteers The rnajorily of the activities of the Chapel are undertaken by volunteers. No record is kept of the lime given on a voluntary basis but without this contribution to the Chapel it would not function. Financial review The Chapel's policy for many years has been thatthe only collection taken up should be at the weekly 10.30am Sunday rnorning service. There are no fvndraising activities and no charges are made for any of the Chapel's activities. Regular financial support for missionary and similar activities throughout the year was by a gift each month from the Chapel's unrestricted funds and added to this were any sums designated for that purposè by donors. The Intended recipient of eaGh designated collection is announced in advance and all funds collected are remitted wilhoul deduction lo the recipient. Since the funds are income of the Chapel and the intended recipient is determined by the Elders the income is designated rather than restricted and therefore the tax recovered under Gift Aid is unrestricted income. The funds from this source, together with the weekly olleclion5 and one off grft5 frow member5 of the Ghapel are used for the operational c051s ol the Chapel. The Chapel is the beneficiary of a £50,000 speafic legacy and a share of the residue of the estate of a Chapel member. The deceased's executors paid £40,000 to the Chapel during 2022 and £10,000 during 2023. The nature of the estsle means that the Chapel's share of any iesidue ¢8nnol be estimated and Iherefoie In accordance with the Charities SORP any possible residue has not been recognised. After the year end the Chapel was notified that it was the beneficiary of a share of the residue of the estate of a Chapel member who died in 2024. 2200,000 was received on 30 May 2025. In accordan with the Charities SORP that sum has been recognised as al 31 December 2024 but, since il is not possible lo quantify whether Iheie will be additional sums due to the Chapel, no further incorne has been recognised. Ex¢luding lega¢ies and investment gains there was a £24.166 deficit for the year. 12023 defiut £12,150 excluding legacies and investment gains). Rèservès pollcy The appointment of a Pastoi materially changed the Ghapel's contractual liabilities. Previously on the basis that the Chapel had no material liabilities, the Chapel's buildings were in good order, and experience had shown Ihalwhen a specifio need had arisen Chapel members had provided finanoial support lo tneel the need. the reserves policy was that there was no need to hold substantial free reserves. This policy is being reviewed. Legacies received in recent years mean that the Chapel has substantial reserves and will be able to meet any shortfalls or unplanned expenditure.
Swanfield Chapel Company Limited by Guarantee Trustees. Report {Incorporating the Directors, Report) Year Ended 31 Docomber 2024 Pay policy and procedures The Pastor's salary is benchmarked against pay for individuals undertaking similar work in a chLJrch eontext and is reviewed annually. Visiting speakers who are engaged in full litne Chiislian work are paid a fee based on the nature ol the service rendered. The appropriate level of each fee is determined by the Chapel's treasurer and reported by him to the Elders. Ttusteès do not receive any paytnènt 01 bènèfits for Iheii work èithèr as tiustees or as volunteers. Those who are rnembers of the Chapel contribute financially to the work of the Chapel. Inve$tm*nt poliey Funds not required for current needs may be invested IN investrnenls of any kind al the absolute di5cretioN of the Trustees. Day to day investment decisions are made by the Elders and Deacons in liaison with the Chapel's treasurer. Fundraisrng As a matter of policy the Chapel does not undertake any fundraising activities. Plans for fure periods Along with other Ghri51ians, the metnbers of the Chapel sense both the imperative of worship and the urgency to fulfil the comrnand to go into all the world and make disciples of all nations. These Mo themes will continue to direct the Chapel's activities and future developments. The Elders who include the Pastor are considering plans for the fvture. They are encouraged by the nurllber of new younger people who have joined the church but Ihey are aware of the fact that these people have work obligations and that those who have undertaken much of the work are reaching a point where age and health issues is itnpacting their abilities and this is leading lo a reduced number of people able to play an active part in the Ghapel's life and a reduced number of people able to lead. Independent Examiner James Tickell has signified his willingness to continue in office as independent examiner. Trustses. responsibilities Btstement The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and United KingdomAccounting Standards Iuniled Kingdom Generally A¢Trpled Accounting Praclicel. Company law requires the charity trustees to prepare financial statements for each year which give a true and fair wew ol the state of affairs of the charitable company and the incoming resources and application of resour5, including the incorne and expenditure. for that period. In preparing these financial stalemenls, the trustees are required to.. select suitable acoounling policie5 and then apply Ihern consistently., observe the methods and principles in the applicable Charities SORP., rnake judgments and accounting estimates that are reasonable and prudent.. pièpare the financial statements on the going ¢on¢ern basi$ unless it is inappropriate lo piesume that the chaiily will continue in oper81ion. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the chaiily's Irans8Ctions and disclose with re850nable a¢cur8cy 818ny time the financial p0511ion of the charity and enable them lo ensure that the financial slaternents comply with the Companies Act 20(. They are also responsible for safeguarding the assets of the eharity and hence lor taking reasonable steps for the prevention
Swanfield Chapel Company Limited by Guarantee Trustees. Report {Incorporating the Directors, Report) Year Ended 31 Docomber 2024 and detection ol fraud and other irregularities. The Iruslees are responsible for the mainlenanoe and Integrity of the coiporale and ffinancial information included in the charity's website. Legislation in the United Kingdom governing thé prsparation and dissemination of linaneial statèmènts may differ froTn legislation in olhei iuiisdictions. Small company provisions Thi5 report h85 been prepared in accordance with the provisions applicable lo companie5 enlilled to the 5rnall companies exemption. The trustees, annual report was approvèd on 14 O¢tober 2025 and signèd on bèhalf of thè board of trustèes by.. Trevor James Trustee
Swanfield Chapel Company Limited by Guarantee Independent examiner's report to the trustees of Swanfield Chapel Year Ended 31 December 2024 I report to the charity trustees on my examination oflhe accounts of Swanfield Chapel forlhe year ended 31 December 2024. Rèsponsibility and basls of rèport As the charty's Iruslees and also 115 direclois for the purposes of company law. you are iesponsible foi the preparation of the accounts IN accordance with the Companies Act 20061'lhe 2006 Act'i. Having satisfied mysew that the accounts of Swanfield Chapel are not required to be audited under Part 16 01 the 2008 Act and are eligible for independent examination, I report in respecl ol my examination of your charity's accounts as carried out undei section 145 of the Charitie5 Act 2011 I'the 2011 Act'l. In carrying out rlly examination I have followed the Directions given by the Charity Cornmission under section 14515llbl of the 2011 Act. Independent examine5 Btatement Since your Charity's gross income exceeded £250.000 your examinèr must be a membèr of a listed body. I can confirm that l am qualified to undertake the examination because l am a rnember of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have oornpleled tny exatninalion. I confirrn th81 no m8tteis h8ve corne to rny attention in connertion with the examination giving rlle cause lo believe.. accounting records were not kept in respect of the Company as required under section 386 of the 2006 Act., or 2. the accounts do not accord with those records,. or 3. the accounts do not eomply with accounting requirements under section of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of my independent examination., or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Piactice foi accounting and reporting by chaiities applicable to ¢harilies pieparing Iheii accounts In a¢wrdance with the Financial Repotbng Stsndard applicable in the UK and Republic of Ireland IFRS 1021. I have no COnrnS and have come across no other matters in connection with the examination to which atten on should be drawn in this report in order to enable a proper understanding of the accoLJnts to be rea ed. Èmes I Bsc FCA 21S Ihdown Road Waterloovile Hants P08 OET 30 October 2025
Swanfield Chapel Company Limited by Guarantee Ststement of Financial Activities (including income and expenditure account) Year Ended 31 December 2024 Unrestricted Desunated Total Funds Total Funds funds funds 2024 2023 Note Income Donations and grants Legacies Other income 36,599 2(KJ,000 5,713 13,052 49,651 200,000 5,713 44,486 5,875 3,826 Total income 242,312 13,052 255,364 54,187 Expenditure Raising funds Expenditure on charitable activities Missionary and similar grfts Total expenditure 62,048 4,420 1,605 11,457 63,653 15.877 52,9S5 13.372 66,468 13,062 79.530 66,337 In¢omèllèxpÈnditurel b&for• other gainslllos5esl Other recognised gainslllossesl Unrealised gainlllossl on investment assets 175,844 1101 175,834 112.1501 14 1,760 1,760 3,809 Net in¢omellexpenditurel and net movement in funds 177,604 1101 177,594 18,3411 Rèconclllatlon of funds Total funds brought forward Totsl fvnds carried forwaryl 453,586 20 453,606 461.947 631.190 10 631.200 453.606 The statement ol financial activities indudes all gains and losses recognised in the year. All incorne and expenditure derive from continuing activf(ie5. The notes on pages 10 10 16 form part of these financial statements
Swanfield Chapel Company Limited by Guarantee Balance Sheet 31 Decèmb8r 2024 2024 2023 Fixed assets Investments Tangible assets 14 15 36,361 252.607 34,601 252.607 288,968 287,208 Current assets Stoeks Debtors Gash al bank and in hand 16 17 203,017 141.593 4,040 164,090 344,610 168,130 Creditors.. amounts falling (lue within one year Net current assets 18 2,378 1,732 342,232 166,398 Total assets less current liabilities 631,200 453,606 reditors.. amounts falling due after more than one year Net assets 631,200 453,806 Funds ofthe ch•rty Designated funds Unrestricted funds 10 631,190 20 453,586 Total charity funds 19 631,200 453.606 These financial staternents have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. The Ituslees. who are 8150 the directors. consider that the company is entitled lo exemption from the requirernenls to have an audit under the provisions of section 477 of the CornpaniesAct 20061 the Act.) and members have not required the company to obtain an audit of its accounts for the year in question in accoidance wrth section 476 of the Act. The Itustees acknowledge their responsibilities for complying Act with respect to accounting records and the preparation of accounts. These financial ststements viere approved by the board of trLJStees and authorised for issue on 14 Oclobei 2025 and were 5igNed on behajf of the board by". Trevor James Trustee Company Registration Number 01143499 Tha not85 on pages 10 to 16 form part of thèsè financial stateménts
Swanfield Chapel Company Limitod by Guarantee Notes to the Financial Statements Year Ended 31 December 2024 General inforniation The Charity is a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 117 Swanfield Drive, Chichester, West Sussex P019 6TD ststement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Finanaal Reporting Standard appli¢able In the UK and the Republi¢ of Iieland,, the Stsletnenl of Recomrnèndèd Prattieè applicable to Charities preparing their aCeOLJnts in aecordan¢e w(th the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 Icharrties SORP IFRS 10211, the Companies Act 2006 and the Charities Act 2011. Swanfield Chapel meets the definition of a public benefit entity under FRS 102. Accounting poli¢ie$ Basis of preparation The financial statements have been prepared on the historical cost basis. The financial ststemenls are prepared in sterling, whi¢h is the functional ¢urn¢Y of the entity. Going concem There are no material UnrtaIntieS about the Charity's ability lo continue. Judgements and key source5 of estimation uncertainty Thè prèparation of thè financial statèmènts rèqLJires managèmènt to make judgemènts, èstimatès and assurnptions that affect the amounts reported. These e51imale5 and judgernenls ale continually reviewed and based or) experience and other factors. Including expectations of future events that are believed to be reasonab under Ihe circumstances. Fund accounting Unrestricted funds. including designated funds. ale available ft)r use * the diretioN of the Trustees lo further any of the Charity'5 purposes. Restricted funds are subjected to restrictions on their expenditure declared by the donor or Ihiough the lerrns of an appeal and fall into one of two sub-classes.. ieslricted income funds 01 endowment funds. Incoming resource¥ All income is included in the ststement of financial activities when entitlement has passed to the Ghaiily. il is piobable th81 the economic benefits 8SSOCl8led with the transaction will flow lo the Charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. Income from donations, grants and legacies is recognised when there is ewdence of Éntitlèmènt lo the ftjnds, receipt is probable, and ils amount can bè measurèd reliabty. Tax recoverable under gift aid is recognised when the relevant grft aid donation is rècognised. 10
Swanfield Chapel Company Limitod by Guarantee Notes to the Financial Statements Icofttinuedj Year Ended 31 December 2024 Accounting policies Icontinuedl Top-up payments under the Gift Aid Small Donations S¢heme are recognised when the ash don8b"on$ which form the b8sis of the cl8irn are ieoeived. Donated facilities and services are recognised when received if the value can be reliably mèasured. No amounts are included for the contribution of volunteers. Resourcès oxpond•d Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure on charitable activities includes all costs incurred by the Charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries. Other expenditure indudes all expenditure that 15 not expenditure on charitable aclivilies. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are alkjcated directly to that activity. Shared costs are apportioned between the activities on a reasonable. ju51ifiable and consi51enl basi5. Oparatlng lèases There are no operating leases. Any lease payments would be recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives would be recognised as a reduotion lo expense over the ase lertn. on a slraight-line basis. No value Is attributed lo the occupation of the Chapel building occupied by the Gharity under an informal licence. Tangible a$$ets Tangible assets are recorded at cost, and subsequendy stated at cost less any accumLJlated depreoi8lion and irnpaiirnenl losses. Furniture. equipment and fixtures and fittings Furniture, equipment and fixturès and fittings directly rèplacing èxisting assèts or costing lèss than £2.000 is written off in the year of purchase. Furniluie. equipment and fixtures and fittings costing more than £2,000 is capilalised. Furnrture, equipment and fixiures and frttings transferred to the Charity on 1 January 2012 has not been valued. Depreciation Fieehold property 15 not depreciated. Depreciation of other tangible assets is calculated so as lo write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset Stocks Stocks are rneasured at the lower of cost and net realisable value. Dèbto Trade and olhei debtor5 are recognised at the Settlement arllounl due after any trade discount offered. Prepayrnents are valued at the amount prepaid net of any trade discounts due. 11
Swanfield Chapel Company Limitod by Guarantee Notes to the Financial Statements Icofttinuedj Year Ended 31 December 2024 Accounting policies Icontinuedl Cash at bank and In hand Cash 81 b8nk and in h8nd indudes oash and short teirn highly liquid investments with a short rnaturily of three months or le55 from the dale of acquisition or opening of the deposit or similar account. Crèditors and provisions Gredilois and piovisions are recogni5ed where the Charty has 8 present obligation resung fior past event that will probably result in the transfer of funds to a third party and the amount due lo settle the oblig8lion ran be measured 01 eslimaled reliably. Gredilors and piovisions are normally recognised at their settlement amounl after allowing for any trade discounts due. Flnanclal Instrumènts A financial asset or a financial liability is regniSed only when the Charity becornes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or recewed and not di5counled. Limited by guarantee Swanlield Chapèl is a ¢ompany limited by guarantèe and accordingly does not have a share capital. Every mernber of the charrtable company undertakes lo Contribute such atnounl as may be required not exceeding £10 lo the assets of the chaiilable company In the event of ils being wound up while he or she is a member, or within one year after he or she ceases to be a member. Donatlons and grants Unrestricted Designated Total Funds Total Funds Funds Funds 2024 2023 Donations- unrestricted Offerings and donations Grants Grants re1vable Donations- designated Offerings and donations 36,599 36,599 34,514 800 13,052 13,052 9,172 36,599 13.052 49,651 44,486 Year ended 31 December 2023 34,514 9,972 Lega¢i¢$ Unrestricted Designated Total Funds Total Funds Funds Funds 2024 2023 Legacies reeeivable 200,000 200,000 5,875 Year ended 31 December 2023 5,875 12
Swanfield Chapel Company Limitod by Guarantee Notes to the Financial Statements Icofttinuedj Year Ended 31 December 2024 Other income The Chapel building is not hired out for use by other organisations but from lime lo lime organisations wrth objects which are in line with those of the Chapel use the building free of Charge. Similarly som& ars pèrmitted to use the car park. Some usèrs of the building and thè car park make donations to the Chapel as a mark of their thanks. Unrestricted Designated Total Funds Total FLJnds Funds Funds 2024 2023 Gifts from users of building & car park Interest received 907 4,806 907 4,808 1,140 2,686 5,713 5,713 3,826 Expenditure on charitsble activities by activity type Unrestricted Designated Total Funds Total Funds Funds Funds 2024 2023 Pastor's salary Pastor's accommodation Speakers and local workers 29,168 4,025 290 5,713 10,607 724 3,185 8,336 29.168 4,025 290 5.713 10,607 1,359 4.145 8.346 25,120 3,743 490 4,535 11,718 1,393 Maintenan Holiday Club Life Exhibition Olhei costs 635 960 10 5,966 62,048 1,605 63,653 52,965 Mlsslonary and slmllar glfts Vere a missionary has been cornmended by the Chapel it is the practice to support them financially. Strict compliance with the Charities Statement of Recommended Practice ISORPI may iegard this as consliluling a conslruclive obligation such that future support should be accounted for in these accounts as a liability. The Trustees are confident the missionaries would not view their support as an open-ended obligation by the Chapel. Total Unrestricted Designated Funds Funds Funds 2024 Total Funds 2023 Missionaries from Swanfield Chapel Other missionary and similar gift5 1,600 2.820 7(K) 2,300 10.757 13.577 1,880 11,492 4,420 11.457 15,877 13.372 10. Net income Net income is stated after charging.. 2024 2023 Depreciation of tangible fixed assets Professional feès- Independent examiner's rèmunération Truslee5' meeting expenses 13
Swanfield Chapel Company Limitod by Guarantee Notes to the Financial Statements Icofttinuedj Year Ended 31 December 2024 11. Independent examiner's remuneration 2024 2023 Fees payable for the examination of the financAal statements 12. Staff costs Total remuneration paid to The Chapel's full time Pastor, including employer's pension and social security costs, was £29,16812023'. £25,120). Frorll lime to time individuals who are not members of the Chapel and not employees are paid fees for assistan with preaching and other activities. The total paid to to individuals was £29012023.. £490. Many of the Chapel's activities are carried out by volunteers who are unpaid and do not recewe any reirnbursement of expenses. 13. Trustè& rèmunaratlon and exns•S None of the Trustees or persons connected with them received any remuneration, benefits or reimbuisernenl of expen5e5 111 the ye81 for work as a truslee12023..Nonel. Any clairll for expenses would be subject to the Charity's normal internal control procedures. 14. Invèstmènts 139.52 CCLA COIF Investrnent accurnulation units purchased April 2021 Cost Market value 31 December 2023 Market value 31 December 2024 30,000 34,601 38,361 Gain 1,760 Prior Year Gain 3,809 15. Tangible fixed assets Thè Cha1 owns the frèèhold of 90 Baxendalè Road, ChiehÉstèr purchased in Novembèr 2011. The property is insured for £463.408. The Chapel'5 fuinishings, rrtlings and equipment were transferred lo the Charity al nil cost on 1 January 2012. They were not valued al the lirne of transfer and have not been capitalised. The insured value of the contents is £91,977. The Charity is the corporate trustee of the charity which owns the freehold of the church building, which is insured for £1.307,622. Freehold Furnishings. Property fittings and equipmènt Total Cost At 1 January 2024 Addib"ons 252,607 252,607 At 31 December 2024 252.607 252.607 Depreciation At 1 January 2024 Charge for the year At 31 December 2024 Carrying amount At 31 December 2024 252,607 252,607 At 31 December 2023 252,607 252,807 14
Swanfield Chapel Company Limitod by Guarantee Notes to the Financial Statements Icofttinuedj Year Ended 31 December 2024 16. Stocks Other than a small incidental stock of cleaning materials, eatering SLJpplies and stationary which are not valued, the Charity holds no slocks12023.' Nill. 17. btOrS 2024 2023 Prepayments Tax recoverable Legacy receivable Other debtors 969 1,993 200,000 55 759 3,226 55 203,017 4,040 18. Creditors: amounts falling due within one year 2024 2023 PAYE and Social Security Donations received in advance Other creditors and accruals 1.244 10 1,124 1.066 10 656 2,378 1,732 19. Analysis of charitable funds At 1 January 2024 At Investment 31 December Gain 2024 Income Expenditure Unrestricted Designated 453,586 20 242.312 13,052 166.4681 113,0621 1,760 631,190 10 453,606 255,364 179,530,, 1,760 631,200 Charitable funds- Prior Year At 1 January 2023 At Investment 31 December Loss 2023 Income Expendiluie Unrestricted Designated 481,927 20 44,215 9,972 156,3651 19.9721 3,809 453,586 20 461,947 54,187 16e,337', 3,809 453,606 The Unrestricted Fund represents the resource5 freely available lo further the general objectives of the Charity. However, £252,607 is represented by the freehold property held for occupation by the Chapel's Pastor. Excluding this the unrestricted funds are £378,58312023'. £200,9991. 15
Swanfield Chapel Company Limitod by Guarantee Notes to the Financial Statements Icofttinuedj Year Ended 31 December 2024 20. AnalysiB of net assets between fund¥ Unrestricted Designated Total Funds Funds Fund5 2024 Fixed asset investments Tangible assets Gurrenl 85sels Creditors less than 1 year Creditors grealer than 1 year Net assets 36,361 252,807 344.600 12,3781 101 631,190 36,361 252,607 344.610 12,3781 101 631,200 10 101 ioi 10 Prior Year Unre51ricted Designated Total Fund5 Funds Funds 2023 Fixed asset investments Tangible fixed assets Current assets Creditors less than 1 year Creditois greater than 1 yèar Nèt assets 34,e01 252.607 168,110 11,7321 101 453,586 34,601 252.607 168,130 11,7321 101 453,606 20 101 20 21. Operating lease commitments There are no operating lease commitments12023'. Nonel. 22. Pension commitments The Chapel opeiales a defined ¢onlribulion pension s¢heme. The assets of the Scheme are held separately from those of the Chapel IN an independently administered fund. The pension contributions payable by the Chapel to the fund during the year amounted to £58412023.. £5501. December 2024 employer and Èmployee ¢onlribulions lotslling £129 12023." £1071 We payable lo the fund at the Balance Sheet date. 23. Related parties Three of the Trustees are rllernbers of the Chapel and are directly involved in ils aclivilies. They benefit from the Chapel's activities on the same basis as other members of the Chapel. Trustees and their related parties made donations to the Charity during the year. Trevor James, a Trustee, is also trustee of other charities and an Ambassadorforthe Sussex Cornrnunity Foundation. Transactions between Swanfield Chapel and charities of which he was a trustee or ambassadoi during the year were as follows.. st Olav Trust (chanty no 1125863).. Purchased Christian books and other materials, on the same terms as any other purchaser, costing in total £2,115 lincluding new hymn books costing £1,077112023". £586.18). Sussèx Community Foundahoft {charity numb&r 1113226)." Recèived no grant. 12023.£8001. The Christian Institute (charity no 1004774).. Made donations of£300.00 to support its work 12023.. £260.00). The Royal Nètionèl Mission lo D&&p Sga Fish8m)&n (The Fisherm&n's Mission) {¢hanty umber 232822).. Made no donations to support its work12023'. £100.00> 16