TRUE JESUS CHURCH
(NEWCASTLE)
FINANCIAL STATEMENTS
FOR
31 DECEMBER 2024
Charity Number 1144002

TRUE JESUS CHURCH INEWCASTLEI
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2024
CONTENTS
MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS.......................................................
ANNUAL REPORT OF THE MEMBERS OF THE BOARD...................................................................
INDEPENDENf EXAMINERS REPORT................................................................................................
STATEMENT OF FINANCIAL ACTIVITIES......................................................................................... 70
BALANCE SHEET................................................................................................................................
NOTES TO THE FINANCIAL STATEMENTS......................................................................................12

TRUE JESUS CHURCH INEWCA5TLEI
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2024
MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS
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 for the year ended 31 December 2024.
The financial statements have been prepared in accordance with the accounting policies set out in
note I to the accounts and comply with the church's constitution, the Charities Act 2011 las amended)
and Statement of Recommended Practice applicable to charities 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
Chartty registration number
1144002
Re8iStered charlty name
True Jesus Church {Newcastlel
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 Place
Edinburgh
EH3 6AT

TRUE JESUS CHURCH INEWCA5TLEI
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2024
ANNUAL REPORT OF THE MEMBER5 OF THE BOARD
STRucfuRE, GOVERNANCE AND MANAGEMENT
Status of Charity, Governing Document and Affiliation
The church is an unincorporated association governed by its Rules and Regulations. It is a registered
charity with the Charities Commission.
The church is affiliated to the General Assembly of the True Jesus Church IUKI.
Organisational Structure
The members are any persons baptised in the True Jesus Church, within the vicinity of Newcastle, and
they are eligible to speak, vote, elect and be elected at the General Meeting of Members. The General
Meeting 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 consisting of the
Religious, General and Financial Affairs Officers.
Management and Appolntment of the Church Board and other rneMbe￿ of the Executive
Committee
At the Annual General Meeting of Member5, members are elected to form the Church Board and to
carry out the administrative functions of the Church. Each member of the Board seNes for a period of
three years but is eligible for re-election for any number of terms. All Board members are honorary.
Three of the board members serve as the Executive Committee under the three sections.. Religiou5
Affairs, General Affairs, and Financial Affairs.
Church Board training
The current Church Board have held their posts for several years and are fully conversant with the
work of the charity. Should a Trustee leave between AGMS then the remaining Trustees will meet to
appoint a new Trustee based on their skills and experience. The existing Trustees will mentor the new
Trustee until they are familiar with the day to day workings and aims of the charity, and they will be
given the opportunity to contribute fully to any management issues that are brought to the attention
of the Board.
OBJEcfivES AND ACTIVITIES
The objectives of the Church are as follow5..
To worship the one true God in accordance with the Old and the New Testaments of the Holy
Bible,.
To preach the full gospel of the Lord Jesus Christ unto the world,.
To prepare for the Lord's second coming.
Aims and Actlvitie5
The main activity of the Church 15 to provide a place of worship for the members of the True Jesus
Church within the vicinity of Newcastle.
Volunteers
Many volunteers give up their time to help out at the church, particularly at weekends and in the
evenings. The Board is greatly indebted to these volunteers for their commitment and support.

TRUE JESUS CHURCH INEWCASTLEI
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2024
ANNUAL REPORT OF THE MEMBERS OF THE BOARD
Grant Making Pollcv
The Church Board operates a policy to contribute a proportion of it5 income to the General Assembly
of the True Jesus Church IU.K.l on a quarterly basis and to other religious organisations a5 It sees
appropriate, on an ad hoc basis. The Board reviews the level of the contributions each year.
ACHIEVEMENTS AND PERFORMANCE
During the year the church met regularly for worship and carried out various activities in pursUIt of
the above stated aims. Significant highlights, events and developments of note in the year include:
Holding activities for the young and old e.g. Religious Education classes, Fellowships, Bible
Studies and New Year Thanksgiving service.
Administering the Sacraments of Water Baptism, Footwashing and Holy Communion
Donations to other churche5 including International Assembly and the UK General Assembly.
How our artivities delfver publlc benefit
Our main activity is to preach the salvation and grace of Christ Jesus, the one True God. The benefit is
for those who are yet to believe and also for the believers in the Church, to gain eternal life in the
future. The Church provides a place of worship for the Congregation and any truth-seeking friends in
Newcastle. The Church also holds regular services on Friday and Saturday for the congregation to keep
the Sabbath.
FINANCIAL REVIEW
Total income from unrestricted funds were £428,65012023: £425,3381 and total expenses were
£241.89612023.' £228,0711. The net income on the general unrestricted funds before transfers was
£186,75412023= £197,2671.
Total income from restricted funds was £207,065 12023.. £39,443) and the total expenses from
restrirted funds were £125,93412023.. £36,868).
At the balance sheet date the unrestricted reserves were £2,194,09212023'. £1,409,142) and there
were restricted reserves of £851.28512023- £1,368.3501.
Principal sources of fundlng
The Church receives the majority of its funding from those in the fellowship by way of weekly offerings
and from general donations.
ReseNes Pollcv
The Reserve fund represents the unrestricted and restricted funds arising from past operating results.
The unrestricted funds represent the free reserves of the church. The Church Board have examined
the requirement to maintain free reserve5 and are aware that they are holding a relatively large
amount of unrestricted funds. However. such funds are necessary for the continued maintenance of
the church building and the future expansion of the church remain5 a key priority. The unrestricted
free reserves of the church are £2.194,09212023'. £1,409,142) of which £30,000 is committed in the
form of loans to True Jesu5 Church in Essex.

TRUE JESUS CHURCH INEWCASTLEI
FINANCIAL STATEMENTS
YEAR ENDED 310ECEM8ER 2024
ANNUAL REPORT OF THE MEMBERS OF THE BOARD
Investment Policy
The reserves are currently held in cash, which the Church Board feel is appropriate given the volatility
of the investment market and external markets, given the church has its charity status and seeks to
avoid risk with its holdings rather than return on investment.
Risk Management
The Church 8oard have assessed the major risks to which the Church is exposed, in particular those
related to the operations and finances of the Church, and are satisfied that Systems are in place to
mitigate the exposure to the major risks.
Operational- Health 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 nece55ary trainin8 provided. The general affairs team regularly review the church
for safety measures and ensure these are adhered to. They also ensure the general maintenance
of the church. The safeguarding and child protection policy has also been formalised.
Operatlonal- Flre safety compliance for True Jesus Church Newcastle
Strategy to manage rlsk
The church has reviewed their fire safety compliance and implemented the following strategie5 to
ensure they can manage this risk effectively. There are regular fire alarm test5, fire marshalls have
been appointed and trained, there is an annual fire risk asse55ment. the fire escapes have been
kept clear, there are fire evacuation plans 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. Appliances are also PAT tested.
Operational- Informatlon Technology
Strategy to mitigate risk
The Information Group keep up to date with technological developments for online platforms for
"Online Worship" such as using YouTube or other social media platforrns. Currently True Jesus
Church Newcastle have a YouTube channel in which members can subscribe and view online
content. The church has pro8re55ed in being able to use online and social media platforms 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 also managed by administrators.
PLANS FOR FUTURE PERIODS
True Jesus Church (Newcastle) plans to continue its core activities in the coming year, subject to the
income arrangements. Following the successful sale of the Longbenton property, the Church will
maintain close collaboration with True Jesus Church IUKGAI to develop the newly acquired UKGA
building in Cramlington. This expansion aligns with our broader mission to pastor the members and
preach the gospel of salvation.
To deepen community engagement, the Church will host regular open day events. Livestream Services
will remain available for members who are unable to attend in person, ensuring access to spiritual
encouragement and pastoring for all. Recognising the growth in membership, the Church remains
committed to pastoral care and the pursuit of its spiritual objectives.

TRUE JESUS CHURCH INEWCASTLEI
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2024
ANNUAL REPORT OF THE MEMBERS OF THE BOARD
PLANS FOR FUTURE PERIODS {Continuedl
Ongoing investment in building maintenance and improvements will ensure that facilities remain safe,
welcoming, and fit for purpose supporting the needs of our congregation and the holy work locally
and across the UK.

TRUE JESUS CHURCH INEWCASTLEI
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2024
ANNUAL REPORT OF THE MEMBERS OF THE BOARD
STATEMENT OF MEMBERS. OF THE BOARD, RESPONSIBILITIES
The Members of the board are responsible for preparing the Board'5 Report and the accounts in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the Members of the board to prepare
accounts for each financial year which give a true and fair view of the state of affairs of the charity and
of the incomin8 resources and application of resources of the charity for that year. In preparin8 these
accounts. the Members of the board are required to..
select suitable accounting policies and then apply them consistentlv,.
observe the methods and principles in the Charities SORP,.
make judgements and estimates that are reasonable and prudent;
State whether applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the accounts,. and
prepare the accounts on the going concern basis unless it is inappropriate to presume that the
charity will continue in operation.
The Members of the board are responsible for keeping proper accounting records that disclose with
reasonable accuracy at any time the financial position of the charity and enable them to ensure that
the account5 comply with the Charitie5 Act 2011 las amended), the Charities l and reports I
Regulations and the provisions of the Trust Deed. They are a150 responsible for safeguarding the assets
of the charity and hence for taking reasonable steps for the prevention and detection of fraud and
other irregularities.
The Members of the board are responsible for the maintenance and integrity of the church and
financial information included on the charity's website in accordance with legislation in the United
Kingdom governing the preparation and dissemination of financial statements.
Approved by the Board on
2025 and 518ned on their behalf by..
JCWLIU
Trustee

TRUE JESUS CHURCH INEWCASTLEI
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2024
INDEPENDENT EXAMINERS REPORT
To the Trustees of True Jesus Church (Newcastle)
I report on the financial statements of the charity for the year ended 31 December 2024 which are set
out on pages 10 to 19.
Respective responsibilities of trustees and examiner
The charity's trustee5 are responsible for the preparation of the accounts. The charity's trustees
consider that an audit is not required for this year under section 144 of the Charities Act 2011 las
amended) (the Charities Act) and that an independent examination is needed.
It is my responsibility to..
examine the accounts under settion 145 of the Charities Act
to follow the procedures laid down in the general Directions given by the Charity
Commission under section 1451Sllbl of the Charities Act, and
to State whether particular matters have come to my attention
Basis of Independent 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 account5 presented with those records. It also includes consideration of any
unusual items or disclosures in the accounts and seeking explanations from the trustees concerning
any such matters. The procedures undertaken do not provide all the evidence that would be required
in an audit. and consequently no opinion is given as to whether the accounts present a 'true and fai
view and the report is limited to those matters set out in the statement below.
Independent examlnerfs ststement
In connection with my examination, no matter has come to my attention..
111 which gives me reasonable cause to believe that in any material respect the requirements..
to keep accounting records in accordance with section 130 of the Charities Act,. and
to prepare accounts which accord with the accounting records and comply with the
accounting requirements of the Charities Act .
have not been met or
121 to which. in my opinion, attention should be drawn in order to enable a proper understanding
of the accounts to be reached.
Louise Presslie CA
Whitelaw Wells
Chartered Accountants
9 Ainslie Place
Edinburgh
EH3 6AT
Date= 271912025

TRUE JESUS CHURCH INEWCASTLEI
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2024
STATEMENT OF FINANCIAL AcfiviTIES
Unrestricted
Funds
Restricted
Funds
Total
2024
Total
2023
Note
Income
Donation5 and legacies
427.275
123,999
551,274
463.286
Investment
1,375
1,375
1,495
Other income
83.066
83,066
Total Income
Expenditure on:
Charitsble actlvities:
428,650
207,065
635,715
464,781
Grants payable
1130,0021
1125,9341
1255,9361
1156.8171
Qther Charitable Activitie5
1111,8941
1111,8941
1108,1221
Total Expenditure
1241.8961
1125,9341
1367,8301
1264,9391
Net Income/lexpenditurel
186,754
81,131
267,885
199.842
Transfers
598,196
1598,1961
Net Movement in funds
784,950
{517,0651
267,885
199,842
Reconclllation of funds
Total funds brought forward
1,409,142
1,368,350
2.777.492
2,577,650
Total funds carried forward
12
2,194,092
851,285
3,045,377
2,777,492
The church has no recognised gains or losses other than the results for the year a5 set out above.
All activities relate to continuing operations.
The note5 on pages 12 to 19 form part of these financial statements.
10

TRUE JESUS CHURCH INEWCASTLEI
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2024
BALANCE SHEET
2024
2023
Note
FIXED ASSETS
Tangible fixed assets
952,478
1,430,367
CURRENT ASSETS
Debtors due less than l year
Debtors due greater than l year
30,752
30,000
35,876
30,000
io
Cash at bank
2,165,236
5,161
2.170,397
1.301,343
8,439
1,375,658
Cash at hand
CREDITORS: Amounts due within I year
li
1138.2501
128,5331
NET CURRENT ASSETS
2,092,899
1,347,125
TOTAL ASSETS LESS CURRENT LIABILITIES 12
3,045,377
2,777,492
FUNDS
12
Restricted
851,285
2,194,092
3,045.377
1,368,350
1.409,142
2,777,492
Unrestricted
The notes on pages 12 to 19 form part of these financial statements.
These accounts were approved by the members of the board on
behalf by..
025 and are signed on their
JCWLIU
Trustee

TRUE JESUS CHURCH INEWCASTLEI
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2024
NOTES TO THE FINANCIAL STATEMENTS
ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared 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 Practice: Accounting and Reporting by Charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS
1021 (effective l January 20191, the Financial Reporting Standard applicable in the United Kingdom
and Republic of Ireland IFRS 102) and the Charities Act 2011 las amended).
The charity has 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 otherwise
stated in the relevant accounting policy notelsl.
Going Concern
The financial statements have been prepared on a going concern bas15. The Members of the 8oard
have assessed the charity's ability to continue as a going concern and this assessment covers the
period 12 months following the signing of these financial statements.
Offerings
Offerings are included in the year in which they are receivable.
Donations
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 income are included in the SOFA in the year in which they are receivable.
Expendlture
All expenditure is included on an accrua15 basis and is reco8nised when there is a legal or
constructive obligation to pay for expenditure. All costs have been directly attributed to one of the
functional categories of resource5 expended in the SOFA. The church is not registered for VAT and
accordingly expenditure is shown gross of irrecoverable VAT.
Charitable expenditure comprises those cost5 incurred by the charity in the delivery of its activities
and services for its beneficiaries. It includes both costs that can be allocated directly to such
activities and those costs of an indirect nature necessary to SUPPOrt them.
12

TRUE JESUS CHURCH {NEWCASTLEI
NOTES TO THE FINANCIALSTATEMENTS
YEAR ENDED 31 DECEMBER 2024
NOTE5 TO THE FINANCIAL STATEMENTS
ACCOUNTING POLICIES Icont.)
Fixed a55ets
Fixed assets are originally recorded at cost. Items of expenditure are capitalised where the
purchase price exceeds £100. 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 follow5..
Fixtures, fittings and equipment
20% reducing balance
Motor Vehicle
25% reducing balance
Freehold property has not been depreciated. which is not in line with Accounting and Reporting by
Char￿tIes.. Statement of Recommended Practice IFRS 1021. The Church Board do not feel that the
freehold property is reducing in value and therefore have not applied any depreciation.
Financial assets
Trade and other debtors which are receivable within one year are initially 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 provision for impairment of debtors is established when there is objective evidence that the
amounts due will not be collected according to the original terms of the contrart. Prepayments are
valued at the amount prepaid. Accrued income is measured at the amount recoverable.
Financlal Llabllltles
Provisions are recognised when the charity has an obligation at the reporting date as a result of
past event which it 15 probable will result in the transfer of economic benefits and that obligation
can be estimated reliably. Provisions are measured at the best estimate of the amounts required
to settle the obligarion. Where the effect of the time value of money is material, the provision is
based on the present value of those amounts, discounted at the pre-tax discount rate that reflects
the risks specific to the liability. The unwinding of the discount is recogni5ed within interest payable
and similar char8es.
Concessionary Loans
Concessionary loans are provided at nil interest on the basis that they are provided wholly to
advance the charitable purposes of the beneficiarie5 and for no financial return.
Crltlcal Accountin8 Estimates and Areas of Judgement
In preparing the financial statements judgements 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 ha5 a material effect on the values within the financial
statements relates to depreciation a5 noted above.
Restricted Funds
Restricted funds are donations and other incoming resources generated for specific projects.
Unrestricted funds
Unrestritted funds are donations and other incoming resources receivable or generated for the
objects of the charity without further specified purpose and are available as general funds.
13

TRUE JESUS CHURCH INEWCASTLEI
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2024
NOTES TO THE FINANCIAL STATEMENTS
STAFF COSTS AND RELATED PARTY TRANSAcfioNS
The church has no employees. The preacherfs salary c05t5 are met centrally by the General
Assembly of the True Jesus Church IUKI. Members of the Board, who are key management
personnel. have received neither remuneration nor expenses.
ANALYSIS OF INCOME FROM ALL SOURCES
2024
Unrestricted
2024
Restricted
2024
Total
2023
Unrestricted
2023
Restricted
2023
Total
Offerings
Bank interest
Other income..
Goin on sole ol
property
427,275
1,375
123,999
551,274
1,375
423,843
1,495
39,443
463,286
1,495
83,066
83.066
428,650
207.065
635,715
425,338
39,443
464,781
DONATIONS AND LEGACIES
2024
Unrestricted
2024
Restricted
2024
Total
2023
Total
Free Will
Youth Fellowship
8ooks and Publications
Religious Education
Member5 Thanksgiving
UKGA Evangelical Fund
IA World Evangelism Fund
African Ministry
HMRC Gift Aid Rebate
Building Fund (Longbentonl
Longbenton Church
Other churches
￿C
Silverton Refurbishment Fund
Reimbursements
336,416
1,829
1,758
15.559
2,960
336,416
1,829
1.758
15,559
2,960
5,286
113
423
67,061
44,522
4,262
370,419
1,964
1,850
15,455
5,286
113
423
5,885
518
67,061
34,155
10,799
11,541
1,700
9,000
44,522
4,262
69.393
69,393
1,692
551,274
1.692
427,275
123,999
463,286
14

TRUE JESUS CHURCH INEWCASTLEI
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEM8ER 2024
NOTES TO THE FINANCIAL STATEMENTS
ANALYSIS OF EXPENDITURE ON GRANT MAKING AcfiviTIES
2024
Unrestricted
2024
Restricted
2024
Total
2023
Total
UKGA offering
Longbenton Church
{UKGAI
130,002
5,709
50,719
135,711
50,719
135.865
19,252
Donations to churches
69,506
125.934
69,506
255,936
1,700
156,817
130,002
Total grants payable were £255,936 12023: £156,817) of which £130,002 12023.. £128,949) was
unrestricted and £125,93412023.. £27,8681 was restricted.
ANALYSIS OF EXPENDITURE ON OTHER CHARITABLE AcfiviTIES
2024
Unrestricted
2024
Restritted
2024
Total
2023
Total
Food & hospitality
Heat and light
Transport
Insurance
Stationery
Property runnin8 &
consumables
Books & Publications
Telephone and internet
Bank charges
Repairs & maintenance
Water and rates
Depreciation
Loss on disposal
Accountancy fees
Other
24.195
14,810
15,247
8,128
24,195
14,810
15,247
8,128
29,346
12,957
8.159
7.550
178
6,748
10,604
10,604
3,345
771
1,862
6,855
2,019
13,884
210
2,880
7,084
111,894
3.345
771
1,862
6,855
2,019
13,884
210
2,880
7,084
111,894
1,560
563
1,824
9.033
2,315
17.428
2,640
7,821
108,122
Total other expenditure was Elll,89412023: £108,122) of which £111.89412023.. £99,122) was
unrestricted and £nil12023: £9,000) wa5 restricted.
GOVERNANCE COST5 INCLUDED IN CHARITA8LE AcfiviTIES
2024
2023
Accountancy and independent examination
2,880
2,640
15

TRUE JESUS CHURCH INEWCASTLEI
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2024
NOTES TO THE FINANCIAL STATEMENTS
TANGIBLE FIXED ASSETS
Freehold
Property
Fixtures and
Equipment
Motor
Vehicle
Total
COST/VALUATION
At l January 2024
Additions
Disposa15
At 31 December 2024
1.360,983
242,226
45,903
113,4001
274,729
23,123
1,626,332
45,903
1523,0981
1,149,137
1509,6981
851,285
23,123
DEPRECIATION
At l January 2024
Charge
Disp05als
At 31 December 2024
173,818
13,640
113,1901
174,268
22,147
244
195,965
13,884
113,1901
196,659
22,391
NET BOOK VALUE
At 31 December 2024
At 31 December 2023
851,285
100,461
732
952,478
1,360.983
68,408
976
1,430,367
DEBTORS: Amounts due less than one year
2024
2023
Prepayments
Giftaid
1,965
28,787
30,752
1,721
34,155
35,876
io.
DEBTORS: Amounts due greaterthan one year
2024
2023
Loans to affiliated churches
30,000
30,000
Loans to affiliated churches comprise of concessionary loans, of £30,00012023'. £Nill to True Jesus
Church in Essex. and of ENil12023'. £30.0001 to True Jesus Church in Dublin.
The loans were made towards the purchase of new church buildings. The loans are interest free.
By mutual agreement between the affiliated churches. repayment will become due at the earliest
of sufficient funds becoming available to repay the loan or once the vacated premises of the
respective churches have been sold. As there is no fixed repayment date thi5 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 year's notice will be required before a repayment is made.

TRUE JESUS CHURCH INEWCASTLEI
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2024
NOTES TO THE FINANCIAL STATEMENTS
ii.
CREDITORS
2024
2023
Accruals
138,250
28,533
12.
MOVEMENT IN FUNDS
Atl
Jan 2024
At31
Dec 2024
Income
Expenditure
Transfers
Restrlrted
Property Fund
Longbenton Church
IUKGAI
Longbenton Church
expenses
UKGA Funds
IA World Evangelism Fund
Silverton Refurbishment
Fund IUKGAI
851,285
509,698
851,285
127.588
144,5221
1592,7641
7,367
4,262
16,1971
15,4321
5,709
113
69,393
15,7091
11131
169,3931
Total Restricted
1.368.350
207,065
1125.9341
1598,1961
851,285
Unrestricted
General Fund
1,409,142
428,650
1241,8961
598,196
2.194,092
Total Funds
2,777,492
635,715
1367,8301
3,045,377
Property Fund- represents the purchase of the Newcastle church building.
Longbenton Church IUKGAI- represents the fund5 for a new church slte at Longbenton and intludes funds
raised for the new Church site as well as the church building itself. The site was sold in April 2024.
Longbenton Church expense5 thi5 fund represents donations received spetifically to cover the running
Costs of the Longbenton property. The slte was sold in April 2024.
UKGA Funds- represents funding raised for donations to the UKGA for the International Assembly, African
Ministry, and the UKGA Preachers Fund.
IA World Evangelism Fund - represents the funding raised for preaching the gospel to other countries
worldwide.
Silverton Refurbishment Fund IUKGAI - represents the funds for the refurbishment of the new church
in Cramlington.
Leeds
represents amounts raised for Leeds Place of Worship building fund.
17

TRUE JESUS CHURCH INEWCASTLEI
NOTES TO THE FINANCIALSTATEMENTS
YEAR ENDED 31 DECEMBER 2024
NOTES TO THE FINANCIAL STATEMENTS
12. MOVEMENT IN FUNDS (CONTINUED)
YThC- represents donations received to cover Y￿c expenses.
Atl
Jan 2023
At31
Dec 2023
Income
Expendlture
Transfers
Restricted
Property Fund
Longbenton Church
IUKGAI
Longbenton Church
expenses
UKGA Funds
IA World Evangelism Fund
Leeds
YTTC
851,285
509,698
851,285
509,698
10,799
110,7991
4,279
11,541
18,4531
7,367
513
5.885
518
1.700
9,000
16,3981
15181
11,7001
19,0001
Total Restricted
1,365,775
39,443
136.8681
1.368,350
Unre5trirted
General Fund
1,211.875
425,338
1228,0711
1,409,142
Total Funds
2,577,650
464,781
1264,9391
2,777,492
13. ANALYSIS OF NET A55ET5 BETWEEN FUNDS
Restrirted
Funds
Unrestricted
Funds
Total
Funds
Tangible fixed assets
Debtors due greater than one year
Other net a55ets
As at 310ecember 1024
851,285
101,193
30,000
2.062,899
2,194,092
952.478
30,000
2,062.899
3.045,377
851,285
Restrlcted
Funds
Unrestricted
Funds
Total
Funds
Tangible fixed assets
Debtors due greater than one year
Other net assets
As at 31 December 2023
1,360,983
69,384
30,000
1,309,758
1,409.142
1,430,367
30,000
1,317,125
2,777,492
7,367
1,368,350
18

TRUE JESUS CHURCH INEWCASTLEI
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2024
14. POST BALANCE SHEET EVENT
True Jesus Curch in Newcastle pledged funds of £1,000,000 to the True Jesus Church UKGA for the
refurbishment of the new church building, Silverton House in Cramlington. The funds were
transferred in January 2025.
19