TRUE JESUS CHURCH
(NEWCASTLE)
FINANCIAL STATEMENTS
FOR
31 DECEMBER 2023
Charity Number 1144002

TRUE JESUS CHURCH INEWCASTLEI
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
CONTENTS
MEMBERS OFTHE BOARD AND PROFESSIONAL ADVISERS......................................................
ANNUAL REPORT OF THE MEMBERS OF THE BOARD...............
INOEPENDENT EXAMINERS REPORT........................................................
STATEMEMf OF FINANCIAL ACTIVITIES............................................................
BALANCE SHEET.................................
.10
NOTES TO THE FINANCIAL STATEMENTS..... .

TRUE IESUS CHURCH INEWCASTLEI
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
MEMBERS OF THE BOARD AND PROFESSIONALAOVISERS
The Members of the Board. who are Trustees for the purposes of Charity Law. have pleasure in
presenting their report and financial statements of the Church forthe year ended 31 December 2023.
The financial statements have been prepared in accordance with the accounting policie5 set out in
note I to the accounts and cornpty with the church's constitution, the Charities Act 2011 las amendedl
and Statement of Recommended Practice applicable to tharitie5 preparing their account5 in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
IFRS1021 (effective l January 20191.
LEGAL AND ADMINISTRATIVE INFORMATION
Char￿¥ reglstratlon number
1144002
Registered tharity nzme
True Jesus Church INewc35tlel
The Members of the Board
JCWLiu
WKNg
TFHO
WSHHO
TWHO
ASMTang
Address
Boyd street
Shieldfield
Newcastle Upon Tyne
NE2 IAP
Independent examiner
Louise Presslie CA
Whitelaw Wells Chartered Accountants
9 Ainslie Pla
Edinburgh
EH3 6AT

TRUE JESUS CHURCH INEWCASTLEI
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
ANNUALREPORTOF THE MEMBERS OF THE BOARD
STRucfuRE. GOVERNANCE AND MANAGEMENT
Status of Charlty, Governing Document and Affiliation
The church is an unincorporated associ3tion governed by its Rules and Regulations. It is a registered
charity with the Charities Commission.
The church is affiliated to the General Assembly ol the True Jesus Church IUKI.
Organlsatlonal StrKture
The member5 are any persons baptised in the True Jesus Church, within the vicinity of Newcastle, and
they are eligible to speak, vote, elect and be elerted at the General Meeting of Mernber5. The General
me￿Ing of Members is the highest deci5ion-making meeting. Any decisions made are to be dealt with
by the Church Board, and then executed by the Church Executive Committee coThslSting of the
Religious. General and Financial Affair5 Officers.
Management and Appointment of the Church Board and other members of the Executive
Comrnittee
At the Annual General Meeting of Members, members are elected to form the Church Board and to
carry out the administrative function5 of the Church. Each Member of the Board serves for a period of
three years but is eligible for re*lection for any number of term5. All 8oard mernbers are honorary.
Three of the board member5 serve as the Executive Committee under the three sections.. Religious
Affair5, Gerberal Affairs, and Financial Affairs.
Church Board training
The current Church Board have held their posts for several years arid are fully conwer5ant with the
work of the charity. Should a Trustee leave between AGM5 then the remaining Trustees will meet to
appoint a new Trustee based on their skills and experience. The existing Trustees will mentorthe new
Trustee until they are familiar with the day to day workings and airns of the charity, and they will be
given the opportunity to contribute fully to any management issues that are brou8hi to the attention
of the Board.
08JECTIVES AND AcnvrriES
The objectives of the Church are as follows..
To worship the one true God in accordance with the Old and the NewTe5taments of the Holv
8ible.'
To preach the full 8ospel of the Lord Jesus Christ unto the world,.
To prepare for the Lord'5 second corning.
Alms and Actlvftles
The main activity of the Church is to provide a place of worshlp for the members of the True Jesus
Church within the vlcinlty of Newcastle.
Volunteers
Many volunteers give up their tirne to help out at the church, particularly at weekends and in the
evenin8s. The Board 15 greatly indebted to these volunteer5 for their cornmitment and support.

TRUE IESUS CHURCH INEWCASTLEI
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
ANNUAL REPORTOFTHE MEMBERS OF THE BOARD
Grant Maklng Pollcy
The Church Board operate5 a policy to contribute a proportion of its income to the General Assembly
of the True Jesus Church IU.K.l on a quarterly basis and to other religious organisatlons as It sees
appropriare, on an ad hoc basls. The Board reviews the level of the contributions each year.
ACHIEVEMENfs AND PERFORMANCE
During the year the ehurch met regularly for worship and carried out various activities in pur5UIt of
the above stated aims. Si8nificant hi8hli8hts, events and developtnents of note in the year include..
Holding activities for the young and old e.g. Religiou5 Education classes, Fellowships, Bible
Studies and New Year Thank5givinB service.
Administering the Sacraments of Water Baptism, Footwashing and Holy Communlon
Donations to other churches including International Assembly and the LIK General As5emblv.
Yow our artivltles dellver publ[¢ benefit
Our main artivity is to preach the salvation and 8iace of Christ jesus, the one True God. The benefit 15
for ihose who are yet to believe and 3150 for the believers in the Church, to gain eternal life in the
future. The Church provides a place of worship for the congre8ation and any truth-seeking friends in
Newcastle. The Church also holds regular servlces on Friday and Saturday forthe congregation to keep
the sabbath.
FINANCIAL REVIEW
Total income from unrestricted funds were £425,338 12022.. £399,522) and total expenses were
£228.07112022.. £182,5111. The net income on the general unrestricted fvnds before transfers was
£197,26712022.. £217,011).
Total income from restricted funds was £39,443 12022.. £47.3951 ènd the total expen5e5 from
restricted funds were £36.86812022.. £49.2321.
At the balance sheet date the unrestricted reserves were £1.409,14212022.. £1,211,875) and there
were restricted reserves of £1,368,35012022.. £1,365,775).
Prlndpal sources of fundi
The Church receives the majorityof r(s fundlng from those in the fellowship byway of weekly offerings
and from general donations.
Reserve5 Policv
The Reserve fund represents the unrestricted and restrirted funds arisingfrom past operdting results.
The unrestricted funds represent the free reserves of the church. The Church Board have examined
the requirement to maintain free reserves and are aware that they are holdlng a relatively large
amount of unrestTlCted fund5. However. such funds are necessary for the continued maintenance of
the church building and the future expansion of the church remains a key prlorlty. The unrestricted
free reserves of the church are £1.409,14212022.. £1.211.8751 of whith £30,000 is committed in the
form of loans to True Jesus Church in Dublin which assisted them to purchase a church. There is also
£30,000 approved to be loaned to True Jèsus Church in Essex, which will not be transacted until it is
talltd upon.

TRUE IESUS CHURCH INEWCASTLEI
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
ANNUAL REPORT OFTHE MEMBERS OFTHE BOARD
Investment Policy
The reserves are currently held in cash, which the Church Board feel is appropriate given the volatility
of the investrnent market and external markets. given the church ha5 Its charity st3tU5 and seeks to
avoid risk with its holdings rather than return on investment.
Rlsk Management
The Church Board have assessed the major risks to which the Church is exp05ed, in particular those
related to the operations and finances of the Church, and are satisfied that systems afe in place to
mitigate the exposure to the major risks.
Operatlonal- Heakh and Safety wlthln Church
Strategy to manage risk
The church has reviewed the health and safety risk in the church and first aider5 have been
appointed and necessary training provided. The general affairs team regularly review tthe church
fof safety measures and ensure these are adhered to. They also ensure the general malntenante
of the church. The safeguarding and child protection policy has also been formali5ed.
Operatlonal- Flre safety cornpllznce for True Jesus Church Ne￿aStle
Strate8V to mana£e rlsk
The church has reviewed thelrflre safwy compllance and Smplemented the following strategiès to
ensure they can manage thi5 risk effectively. There are regularfire alarm tests, fire marshalls have
been appointed and trained, there is an annual fire risk assessment, the fire escapes have been
kept clear. there are fire evacuation plan5 along with fire drill practice. The church also confirmed
with building control and the local fire brigade department for building compliance, such as fire
doors and room segregation. Appliance5 are a150 PAT tested.
Operatlonal- Informatlon Technolo
Strategy to mitigate risk
The Information Group keep up to date with technolo8ical developmenis for onllne platforms for
'Online Worship" such a5 using YouTube or other soci31 media platforms. Currently True Jesus
Church Newcastle have a YouTube channel in which mernbers can subscribe and view online
content. The church has progressed in being able to use online and social media platfomis to be
able to fulfil the church objectives. The Information Group continues to implement WiFi password
changes to keep the network secure. Social media content is alsts managed by administrators.
PLANS FOR FUTURE PERIODS
The Church plans continuing the regular activities outlined above subject to satisfactory income
arrangement5.
In 2023, True Jesus Church (Newcastle) has returned to holding in-person services. LNe stream
services continues to be available for those who have difficulties attending physically. The plan to
dispose of the Longbentoa property ha5 progressed. with True Jesus Church (Newcastle) now working
with True Jesus Church IUKGAI to expand into pioneering areas. The Church will continue caring for
the growing church membershlp and pursue the key objectives set out.

TRUE JESUS CHURCH INEWCASTLEI
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
ANNUAL REPORTOF THE MEMBERS OFTHE BOARD
STATEMENT OF MEMBERS, OF THE BOARD, RESPONSIBILITIES
The Members of the board are responsible for preparin8 the Board's Report and the accounts in
accordance with applicable law and United Kingdom Aceountlng Standard5 Iunited Kingdom Generally
Accepted Accounting Practicel.
The law appllcable to charities in England and Wales requires the Members of the board to prepare
accounts for each financial year which give a true and fairview of the state of affair5 of the charity and
of the incotning resource5 and application of resources of the charity for that year. In preparing these
account5. the Members of the board are required to..
select 5Ultable accounting policies and then apply them consistently,.
observe the methods and principle5 in the Charitie5 SORP..
make judgements and estimates that are reasonable and prudent,.
state whether applicable accounting standards have been followed, subject to arny material
departure5 disclosed and explained in the accounts., and
prepare the accounts on the going concern basis unless it *s inapprtsprlate to presurne that the
charity will continue in operation.
The Members of the board are responsible for keèping proper accounting records that disclose wfch
reasonable accurary at any time the financial posltion of ihe char.rty and enable them to ensure that
the accounts comply with the Charities Act 2011 las amended). Ihe Charities l and reports I
Regulations and the provisions of theTrust Deed. They are 3150 responsible forsafeguarding the assets
of the charity 3nd hence for taking reasonable steps for the prevention and detection of fraud and
other irregularities.
The Members of the board are re5pon5ible for the naintenance and integrity of the church and
financial information included on the charitvs website in accordance with legislation in the United
Kingdom 8overning the preparation and dissemination of financial 5taternent5.
Approved by the Board on
2024 and sig￿ed on their behalf bv..
3191
JCWLiu
Trustee

TRUE IESUS CHURCH INEWCASTLEI
FINANCIAL STATEMENTS
YEAR ENOED 31 OECEMBER 2023
INDEPENDENT EXAMINERS REPORT
To the Trustees of True Jesus Church (Newcastle)
I report on the flnancial staternents of the charity forthe year ended 31 December 2023 which are set
ut on page5 9 to 18.
Respectlve responslbllltles of trustèés and exorniner
The charit¢s trustees are responsible for the preparation of the account5. The charl￿5 trustees
consider that an aU￿￿t is not required for this year under section 144 of the Charities Act 2011 las
amended) (the Charitie5 Act) and that an independent examination is needed.
It is my responsibility to..
exarnine the accounts under section 145 of the Charities Act
to follow the procedures laid down in the general Directions given by the Charity
Commrssion under Section 14515llbl of the Charities Act, and
to state whether particular matters have come to my attention
Basis of independerlt examinerfs report
My examination was carried out in accordance with the general Directions given by the Charity
Commission. An examination includes a review of the accounting records kept by the charity and a
comparison of the accounts presented with those records. 11 also includes consideration of anv
unusual iterns or disclosure5 in the accounts and 5eekin8 explanations from the trustees concerning
any such matters. The procedures undertaken do not provide all the evldente that would be required
In an audit, and consequently no O￿nIOn is given as to whether the accounts present a 'true and fairf
vièw and the report is limited to those matters set out in the statement below.
Independent examinerfs statement
In connection with my examination. no matter has come to my attention..
111 which gives me reasonable tause to believe that in any material respert the requirements..
to keep accountin8 records in accordance with section 130 of the Charities Act.. and
to prepare accounts which accord with the accountin8 records and comply with the
accounting requirements of the CharSties Act
have not been met or
121 to which, in rny opinion, attention should be drawn in order to enable a proper understandin8
of the accounts to be reached.
Louise Presslie CA
Whitelaw We115
Chartered Accountants
9 Ainslie Place
Edinburgh
EH3 6AT
Date.. 31912024

TRUE IESUS CHURCH INEWCASTLEI
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
STATEMENT OF FINANCIAL A￿1VITIEs
Unrestricted
Funds
Re5trirted
Funds
Totsl
2023
Total
2022
Note
Donations and le8acies
423.843
39,443
463.286
446,261
Investment
1,495
1.495
656
Total Income
Expenditure on..
Charitable activitie5:
425.338
39,443
464,781
446,917
Grants payable
1128.9491
127.8681
1156.8171
1171,1591
Other Charitable ActNlties
199,1221
19,0001
1108,1221
160.5841
Total Expenditure
1228,0711
136,8681
1264,9391
1231.7431
Net Income/leMpenditurel
197.267
2,575
199,842
215,174
Transfer5
Net Movement in funds
197,267
2.575
199.842
21S,174
Reconciliatlon of funds
Total funds brought forward
1,211.875
1,365,775
2,577,650
2,362.476
Total funds carried forward
12
1.409,142
1.368.350
2.777,492
2,577,650
The church has no recognised gains or1055es other than the results for the year as set out above.
All activities ielate to coThtinuing operations.
The notes on pages 11 to 18 form part of these financial statements.

TRUE JESUS CHURCH INEWCASTLEI
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
BALANCE SHE
2023
2022
Note
FIXED ASSETS
Tangible fixed assets
1,430,367
1,422,483
CURRENT ASSETS
Debtors due less than l year
Debtors due greater than I year
35,876
30.000
36,361
30.OQX)
io
Cash at bank
1,301,343
8,439
1,375,658
1.104.391
21,711
1,192,463
Cash at hand
CREDITORS.. Amounts due wrthin l year
li
128,5331
137,2961
NET CURRENT ASSETS
1,347,125
1,155,167
TOTAL ASSETS LESS CURRENT LIABILITIES 12
2,777,492
2.577.650
FUNDS
12
Restricted
1,368,350
1,409.142
1,365,775
1,211,875
2,577,650
Unrestricted
2.777.492
The note5 on pages 11 to 18 form part of these financial statements.
These accounts were approved by the members of the board on
behalf by..
lfi{
2024 and are signed orTr their
JCWLIU
Trustee
10

TRUE JESUS CHURCH INEWCASTLEI
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
NOTES TO THE FINANCIAL STATEMENTS
ACCOUNTING POLICIES
Basis of preparation
The financial statements have been p￿Pared under the historical cost convention with items
recognised at cost or transaction value unless Otherwise stated in the relevant notelsl to these
accounts. The financial statements have been prepared in accordance with the Statement of
Recommended Prattice.. Accounting and Reporting by Charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and RepLtblic of Ireland IFRS
1021 leffecfive l January 20191. the Financial Reporting Standard applicable in the United Kingdom
and Republic of Ireland IFR5 1021 and the Charlties Att 2011 las amended).
The charity ha5 taken advantage of the exemption from the requirement to prepare a Statement
of Cash Flows as permitted under FRS 102 and the Charities FRS 102 SORP.
The True jesus Church (Newcastle) meets the definition of a public benefit entity under FRSIO2.
Assets and liabilities are initially recorded at historical cost or transaction value unless otherwlse
stated in the relevant accounting policy notelsl.
Golng Concern
The financial statements have been prepared on a going concern basis. The Members of the 8oard
have a55essed the charl￿5 ability to continue as a 80in8 Concern and thi5 as5e55ment covers the
period 12 months folli)wing the 51gning of these financial statements.
Offering5
Offerin8s a￿ included in the year in which they are receivable.
Dona¥ons
Donations are included in the year which they are receivable, and any goods donated are donated
at market value.
Investment and other income
Bank Interest and other incorne are Incl￿ded in the SOFA in the year in which they are ￿te1vable.
Expenditure
All expenditure is included on an accruals basis and is recognised when the￿ is a legal or
constructive obli6ation to pay for expenditure. All cost5 have been directly attributed to one of the
functional categorie5 of re50urce5 expended in the SOFA. The church is not registered for VAT and
accordingly expenditure is shown gross of irrecoverable VAT.
Charitable expenditure comprises those costs incurred bythe charity in the delivery of it5 activities
and services for its beneficiaries. It includes both costs that can be allocated directty to such
activities and those costs of an indirect nature necessary to support them.

TRUE IESUS CHURCH INEWCA5TLEI
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENOED 31 DECEMBER 2023
NOTES TO THE FINANCIAL STATEMENTS
ACCOUNTING POLICIES Icont.)
Flxed a55ets
Fixed assets are orlglnally recorded at wst. Items of expenditure are capitslised where the
purchase price exceed5 £IIXJ. Depreciation is calculated so as to write off the cost of an asset, less
its estimated residual value, over the useful economic life of that asset as follows..
Fixture5, fittings and equipment
20% reducing balance
Motor Vehicle
25% reducing balante
Freehold propetty has not been depreciated. which is not in line with Accounting and Reporting bv
Charities.. Statement of Recomrnended Practice IFRS 1021. The Church Board do not feel that the
freehold property is reducin8 in value and therefore have not applied any depreciation.
Financial assets
Trade and other debtors which are receivable within one year are inStlally measured at the
transaction price. They are subsequently measured at amortised cost. being the transaction price
less any amounts settled and any impairment losses.
A provi5ron for impairment of debtors is established when there is objertive evidence that the
amounts due will not be collected according to the original terrns of the contract. Prepayments are
valued at the amount prepaid. Accrued income 15 measured at the amount recoverable.
Finantial knabditie5
Provisions are recognised when the charity has an obligation at the reporting date as a result of a
past event which it is probable will result in the transfer of econornic benefits and that obligation
can be estimated reliably. Provisions are measured ai the best estimate of the arnounts required
to settle the obligation. Where the effect of the time value of money is materSal, the provision is
based on the present value of those amounts, discounted at the pre-tax discount rate that reflects
the risks specificto the Ilability. The unwinding of the discount is recognised within interest payable
and simllar charges.
Concesslonary Loan5
Concessionary 103ns are provided at nil Inte￿5t on the b35iS that they are provided wholly to
advance the Charitable purposes of the beneficiaries and for no financial return.
Critical Accounting Estlmate$ and Areas of Judgement
In preparing the financial statements jud8ements have been made when applying the accounting
policies, These judgements are evaluated on an ongoing basis and are based on historical
experience. The only area where judgement has a material effect on the values within the financial
statements relates to depreciation as noted above.
Restrlrted Funds
Restrlcted funds are donations and other incoming resources generated for specific projects.
Unrestrlcted fund5
Unrestricted funds are donations and other incorning resources receivable or generated for the
objects of the charity without further specified purpose and are available as general fvnils.
12

TRUE JESUS CHURCH INEWCASTLEI
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEM8ER 2023
NOTE5 TO THE FINANCIAL STATEMENTS
STAFF COSTS AND RELATED PARTY TRANSAcfioNS
The church has no employees. The preacher's salary costs are met centrally by the General
Assembly of the True JesLts Church IUKI. Members of the Board, who are key manaEernent
personnel, have received neither rernuneration nor expenses.
ANALYSIS OF INCOME FROM ALL SOURces
2023
2023
Restrirted
2023
Total
2022
2022
Restricted
2022
Total
Unrestricted
Unrestricted
Offerin8S
423,843
39.443
463,286
398,866
47,395
446,261
gank interest
1,495
425,338
1,495
464,781
656
399,522
656
446,917
39,443
47,395
DONATIONS AND LEGACIES
2023
2023
Restricted
2023
Total
2022
Total
Unrestricted
Free Will
Youth Fellowshlp
Books and Publications
Reli6ious Education
Sisters, Fellowship
Members Thanksgiving
UKGA Evangelical Fund
IA World Evangelism Fund
African Ministry
HMRC Gift Aid Rebate
Buildin£ Fund ILon8bentonl
Longbenton Church
Other churches
rc
IA internet ministry Fund
370.419
1.964
1.850
IS.455
370,419
1,964
1,850
15,455
329,062
562
800
15,098
4.196
S.990
5.563
50
2,030
43,158
33.484
5,819
23
5,885
518
5,885
518
34,155
34,155
10.799
11,541
1.700
9,000
10.799
11,541
1.700
9,000
426
446,261
423.843
39.443
463.286
13

TRUE JESUS CHURCH INEWCASTLEI
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
NOTES TO THE FINANCIAL STATEMENTS
ANALYSIS OF EXPENDITURE ON GRANT MAKING A￿1VITIEs
2023
Unrestricted
2023
Restrirted
2023
Total
2022
Total
UKGA offerlng
Longbenton Church
IUKGAI
Donations to churches
128,949
6,916
19,252
135,865
19.252
129,483
41.653
1,700
27.868
1,700
IS6,817
23
171,159
128,949
Total grants payable were £156,81712022.. £171,159) of which £128,949 12022.. £121,927) was
unrestrirted and £27,868 12022.. £49,232) wa5 restricted.
ANALYSIS OF EXPENDITURE ON OTHER CHARITABLE AcfiviTIES
2023
Unrestricted
2023
Restricted
2023
Total
2022
Total
Food & hospitality
Heat and light
Tran5POrt
Insurance
Stationery
Property running &
consumables
Books & P(Jblications
Telephone and Internet
Bank charges
Repairs & maintenance
Water and rates
Depreciation
Atcountancy fees
Professional fees
Other
20,346
12,957
8,159
7,550
178
6,748
29.346
12,957
8,159
7.550
178
6.748
7,411
9,168
5,420
7,962
298
4.041
1.560
563
1,824
9,033
2,315
17,428
2,640
1.560
563
1,824
9,033
2,315
17.428
2,640
719
2.159
3,292
224
16.037
2.400
106
1,347
60,584
7,821
99,122
7,821
108,122
9,(K)O
Total other expenditure was £108,12212022.. £60.5841 of which £99,12212022.. £60,584) was
unrestricted and £9,1XJO12022.. £Nill was re5trirted.
GOVERNANCE COSTS INCLUDED IN CHARITABLE AcfiviTIES
2023
2022
Accountancy and independent examination
2,640
2,400
14

TRUEIESU5 CHURCH (NEW￿TLE)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEM8ER 2023
NOTES TO THE FINANCIAL STATEMENTS
TANGIBLE FIXED ASSETS
Freehold
Property
Fixtures and
Equipment
Motor
Vehicle
Total
COST/vALUATION
At I january 2023
Additions
Di5posa15
At 31 December 2023
1,360,983
216,914
25.312
23.123
1.601.020
25,312
1,360,983
242,226
23.123
1,626.332
DEPRECIATION
At l January 2023
Charg
Disposals
At 31 Oecember 2023
156.716
17,102
21,821
326
178,537
17.428
173,818
22,147
195.965
NET BOOK VALUE
At 31 December 2023
At 31 Decernber 2022
1.360.983
1.360,983
68,408
60,198
976
1,302
1,430,367
1.422,483
DEBTORS- Amounts due less than ont year
2023
2022
Prepayments
Gift aid
1,721
34,155
35,876
1,596
34,765
36,361
io.
DEBTORS: Amounts due greater than ont year
2023
2022
Loans to affiliated churches
30.000
30.0
Loans to affiliated churches comprise of conce55ionary loans, of £30,0(M)12022: £30,￿0} to True
jesu5 Church in Dublin.
The loans were made towards the purchase of new churth buildings. The loan5 are interest free.
By rnutual agreement between the affiliated churches, repayment will become due at the earliest
of sufficient funds becomin6 available to repay the loan or once the vacated prerni5es of the
respective ¢hurches have been sold. A5 there is no fixed repayment date this loans has not been
discounted to their fair value as it is not known what term the loan will be repaid over however at
least a yearfs notice will be required before a repayment is made.

TRUE JESU5 CHURCH INEWCASTLEI
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
NOTES TO THE FINANCIAL STATEMENTS
ii.
CREDITORS
2023
2021
Accruals
28.533
37.2%
li
MOVEMENTIN FUNDS
Atl
lan 2013
At31
Dec 2023
Incomè
Expenditure
Transfers
Restrirted
Property Fund
Longbenton Church IUKGAI
Longbenton Church
expenses
UKGA Funds
IA World Evangelism Fund
Leeds
Y￿C
851.285
509,698
4.279
851,285
509.698
7,367
10,799
11.541
110.7991
18,4531
513
5.885
518
1.700
9,000
16.3981
15181
11.7001
19,0(X)I
Total Restrl¢ted
1.365,775
39.443
136.8681
1.368,350
Unrèstricted
General Fund
1.211,875
425,338
1228.0711
1,409,142
Total Funds
2,577.650
464,781
1264,9391
2,777,492
Property Fund- represents the purchase of the Newcastle church building.
Longbenton Church IUKGAI- represents the funds for a new church site at Longbenton and includes
funds raised for the new church site as well as the church building itself. This fund will be transferred
to the new church once completed.
Longbenton Church expen5e5
this fund represents donations received Specifical￿ to cover the
running costs of the Longbenton property.
UKGA Funds- represents fundin8 raised for donatlons to the UKGA for the International Assembly.
African Ministry. and the UKGA Preacher5 Fund.
IA World EvangelSsm Fund- represents the funding raised for preaching the gospel to other countries
worldwide.
Leed5
represent5 amounts raised for Leed5 Place ol Worship building fund.
Y￿C- represents donations received to cover Y￿c expenses.
16

TRUE IESUS CHURCH INEWCASTLEI
NOTES TO THE FINANCIAL STATEMENTS
YEAR EMDEO 31 OECEM8ER 2023
NOTES TO THE FINANaAL STATEMENTS
12. MOVEMENT IN FUNDS ICONTINUEDI
Essex- represents amounts raised for the TJC Es5£x Place of Worship.
Atl
Jan 2022
At31
Oec 2022
Income
Empendlture
Transfers
Restrirted
Property Fund
Longbenton Church
IUKGAI
Lon8benton Church
expenses
UKGA Funds
Essex
851,285
509.698
8SI,285
509.698
33,484
133,4841
6,629
5.819
18,1691
4,279
8.069
23
17.5561
1231
513
Total Restrlcted
1.367.612
47.395
149,2321
1,365,775
Unrestricted
General Fund
994.864
399,522
1182,5111
1.211.875
Total Funds
2.362.476
446.917
1231,7431
2,577,650
13. ANALYSIS OF NET ASSETS BEfwEEN FUNDS
Restricted
Funds
Unrestrirted
Funds
Total
Funds
Tangible fixed assets
Debtors due greater than oThe year
Other net assets
As at 31 December 2023
1.360,983
69.384
30,0(MI
1,309,758
1.¢709.142
1.430,367
30,0￿]
1,317,125
2,777.492
7,367
1,368,350
Restrlcted
Funds
Unrestrlcted
Fund5
Total
Funds
Tangible fixed assets
Debtors due greater than one year
Other net assets
A5 at 31 December 2022
1,360,983
61.500
30,000
1.120.375
1.211,875
1.422,483
30,000
1.125,167
2.577,650
4,792
1.365.775
17

TRUE JESUS CHURCH INEWCASTLEI
NOTES TO THE FINANCIAL STATEMENT5
YEAR ENDED 31 DECEMBER 2023
14. posr BALANCE SHEE[ EVENT
During the year, there h35 been discussion in relation to the sale of St P￿eT and St Paul RC Church.
Benton Lane, Newcastle upon Tyne, NE12 8PB.
The sale of properry was completed for £6CQ.000 in April 2024.
18