CHARrrY REGISTRATION NUMBER: 1144138 Latimer Congregational Church Unaudited Financial Statements 31 December 2024 CARRINGTON BLAKE ACCOUNTANCY Chartered accountants Jack Dash House 2 Lawn House Close London United Kingdom E14 9YQ
Latimer Congregational Church Financial Statements Year ended 31 December 2024 Page Trustees, annual report Independent examinerfs report to the trustees ststement of financial activities Statement of financial position Notes to the financial statements The following pages do not fonm part of the financial statements Detailed statement of financial activities 15 Notes to the detailed statement of financial activities 16
Latimer Congregational Church Trustees. Annual Report Year ended 31 December 2024 The trustees present their report and the unaudited financial statements of the ¢haJity for the year ended 31 December 2024. Reference and administrative details Registered charity name Latimer Congregational Church Charlty registration number 1144138 Princlpal office Latimer Congregational Church Emest Street Stepney London E14LS The trustees Mrs S Brighton Mrs N Stephenson Rev S Wade Ms C Becares Independent examiner Peter Mabinuori Carrfngton Blake Accountancy Ltd Jad( Dash House 2 Lawn House Close London United lfjngdom E14 9YQ
Latimer Congregational Church Trustees, Annual Report (continu Year ended 31 December 2024 Objectives and activities The principal purpose of the church is the adVaement of the Christian faith according to the principles and usages for the time being of Congregationalism and in accordan wÉth any specific reqLtirements in the Foundation Trusts. The ChuTch may also advan education, relieve need and carry out other charitable purposes in the United lfjngdom and other parts of the wortd. Latimer Congregalional Church continues to worship as a small fellowship. We promote the gospel of Jesus Christ through prae, worship and the teaching and preaching of God's word. We show God's love by living as Christ's ambassadors Nwthin our local comrnunity, doing, helping and providing as much as we can offer in His name. as individuals and as a congregation. We also maintsin our ministry to the elderty with prayer, comfort companionship. and spiritual and practical needs. Our worship ts is appropriate and available for all ages and abilities. One of the ways to fuFfilI the advancement of the Christian faith is by the provision of exlIent facilltles for other Christian charities and organisations to reach out to the local communty. nationally and globally. The subsidised accommodation enables Christian organisations to meet, worship, plan and conference in a residential setting and a fully 8quipped chapel for worship and prayer. We are fvlly equipped for disabilities with a platfom lift, and designated bedroom and bathroom facilities. We We suppty large prlnt books and onscreen text and have a loop system for the hearing impaired. Achievements and perfornwnce We employed a full-time minister who shared her ministy with a sister church in Kent. promoting the Gospel in both churches. She was involved locally with the communty care team in Tower Hamlets,reaching QLrt to the housebound and lonety with support and visits, bringing Ihem into church fellowship and encouraging their faith journey. Our minister retired in May 2024 and sSnce then we have been in an interregnurn preparing the way for a new minister. Since May 24 we employed an Interim Centre Manager and a part time Church Support worker to cover the running of the building and church activities. Throughout 2024 we held services of worship every Thursday followed by a church and community lunch. Communion was shared monthty. We continued to have open garden days and encouraged the local surrounding communty. We also had a thriving 10-2 dub on a Tuesday - a communty drop in. Financial revlew The charitys principal source of funds is derived from a cnntinuing tenancy, under the Halliford Trust, wilh the Latimer Congregational Church being the sole beneficiary. The current annual rentsl of Frith Grsnge & Grange Fann. Upper Halliford. Shepperton-on-Thames, TW17 8SQ. generates £147,000 per annurn, payable in quartedy instalments. The tenancy is re-negotiated by. the Custodian Trustees, The Congregational Federation Limited.
Latimer Congregational Church Trustees. Annual Report (¢onbnued) Year ended 31 December 2024 ..IID!? s The trustees. annual report was approved on ......... trustees by: . and signed on behalf of the board of MTS S Brighton Trustee
Latimer Congregational Church Independent Examinerfs Report to the Trustees of Latimer Congregational Church Year ended 31 December 2024 I report to the trustees on my examination of the financlal statements of Latimer Congregational Church (Ihe charity) for the year ended 31 Dember 2024. Responsibilities and basis of report The trustees are also the director5 of the company for the purposes of company law are responsible for the preparation of Ihe finanaal ststements. The trustees cnnsider that an audit is not required for this year under section 144(2) of the Chartties Act 2011 (the 2011 Act) and that an independent exarnination is needed. Having satisfied mysetf that the tharity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to: examine the ac£ounts under section 145 of the 2011 ACL to follow the ProdureS laid down in the general Directions gNen by the Charity Commission under section 145(5)(b) of the 2011 ACL and to state whether particular matters have come to my attention. Independent exarninerfs statement In connection wilh my examination. no matter has come to my attentbon: which gives me reasonable cause to believe that in any material respect the QUIrements. to keep accounting records in accordance with seclion 386 of the Companies Act 2006, and to prepare accounts which accord with Ihe acwunting records, comply with the accounting requirements of sectlon 396 of the Companies Act 2006 and yth the methods and principles of the statement of Recommended Practice: Accounting and Reporting by Charities Peter Mabinuorl Carrington Blake Accountancy Ltd Independent Examiner Jack Dash House 2 Lawn House Close London United Kingdom E14 9YQ
Latimer Congregational Church ststement of Financial Activities Year ended 31 December 2024 2024 Unrestricted funds Total funds Totsl funds 2023 Income and endowments Charitable activities Investrnent income 162.391 578 162.391 578 181,195 Totsl income 162,969 162,969 181.195 Expenditure Expenditure on raising funds: Costs of Charitable Acttvities 219,318 219.318 116.414 Total expendlture 219.318 219.318 116.414 Net (expenditureyincome and net movement In funds (56.349) (56.349) 64,781 RenCilIatIon of funds Totsl funds brought forward as previously reported Prior year adjustment 4,168,967 1,507 4,168.967 1,507 4,104,186 Total funds brought forward as rated 4,170,474 4.170,474 4,104,186 Total funds carried forward 4,114,125 4.114.125 4,168,967 The statement of finanoal activities indudes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notss on pages 7 to 13 form part of these financial siatements.
Latimer Congregational Church ststement of Financial Position 31 December 2024 2024 2023 Fixed assets Tangible fixed assets 10 4.062.299 3.726.299 Current assets Cash at bank and in hand 54,226 445,375 Creditors: amounts Fdlling due within one year Net current assets 12 2,400 2,707 51.826 442.668 Total assets less current liabllities 4.114.125 4,168,967 Funds of the charity Unrestricted fvnds: Revaluation reserve Other unrestricted income funds 526,771 3.587,354 526.771 3.642,196 Total unrestrlctsd funds 4.114.125 4,168.967 Total charity funds 14 4.114,125 4,168.967 These fin ncial ¥(atements were approved by the l)oard of trustees and authorised for issue 2o.r.ioll>... and are signed on behalf of the board by: on ..... Mrs S Brighton Trustee The notes on pages 7 to 13 forni part of these financial statements.
Latimer Congregational Church Notes to the Financial Statements Year ended 31 December 2024 General inforrnation The charity is a public benefft entity and a registered chaiity in England and Wales and is unincorporated. The address of the principal Offi IS The Manse, Latimer Church, Emest Street. London. E14LS. Statement of compliance These financial statements have been prepared in MplianCe with FRS 102, The Financial Reporting Stsndard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice appIlble to tharities preparing their accounts in accordance with the Financial Reporttng Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011. Accountlng policies Basis of preparation The financial statements have been prepared on the histori[ cost basis, as modffied by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going conrxrn There are no material uncLrtainties about the charitys abilty to continue. Fund aGGounting Unrestricted funds are available for use at the discretion of the trustses to further any of the ¢h£rity's purposes. Designated funds are unrestricted funds eamiarked by the trustees for particular future project or commitmenL Restricted funds are subjected to restriciions on their expenditu decaared by the donor or through the temis of an appeal, and fall into one of Iwo sutKlasses: restricted income funds or endowment fvnds.
Latimer Congregational Church Notes to the Financial Ststements {continuedJ Year ended 31 December 2024 Accounting policies (condnuedj Incoming resources All incoming resources are induded in the statement of financial activities when entittement has passed to the charity; rt is probable that the economic beneffts associated with the transaction will flow to the chaiity and the amount can be reliabty measured. The following specific policies are applied to particular Categories of income: income from donations or grants is reix)gnised when there is eviden of entitlement to the gift, receipt is probable and ts amount (3n be measured lIablY. legacy income is recogntsed when receipt is probable and enttilement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably. in which Case the value is derived from the Cost to the donor or the estimated resale value. Donated facilities and servi¢XS are recognised in the accounts when received rf the value can be reliably measured. No amounts are induded for the contribution of general volunteers. income from contracts for the supply of servtis is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for tt to be spent on a particular purpose and returned rf unspenL in which case it may be regarded as restricted. Resources expended Expenditure is recogntsed on an accruals basts as a liabilty Is Incurred. Expenditure indudes any VAT which cannot be fvlly recovered, and is dassified under headings of the statemenl of financial activities to which it relates: expendlture on raising funds includes the costs of all fundraising aclfvitles, events, non-charitsble trading activrties. and the sale of donated goods. expenditure on charitable acttvities indudes all costs incurred by a charity in undertaking activtties that further its charitsble aims for the benefft of its beneficiaries, induding those support costs and costs relating to the governan of the charity apportioned to tharitable activities. other expenditure indudes all expendiiure that is neither related lo raising funds for the charity nor part of its expenditure on charitable activiues. All costs are allocated to expendilure categories reflecting the use of the resource. Direct costs attributsble to a single activity are allocated dI¢11Y to that activty. Shared costs are apportioned btheen the activities they ntrIbute to on a reasonab5e. justifiable and consistent basis. Tangible assets Tangible assets are initialty recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tsngible assets rnrried at ValUed amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impainnent losses.
Latimer Congregational Church Notes to the Financial Statements (CO•nUe Year ended 31 December 2024 Accounting policies (conlinued) Tanglble assets (confr"nuedJ An increase in the carying amount of an asset as a result of a revaluation, recognised in other recognised gains and losses, unless it reverses a charge for impaient that has previously been recognised as expendiiure wrthin the ststernent of financial actjvities. A decrease in the carying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, expt to which it offsets any previous revaluation gain. in which case the loss is shown within other recognised gains and losses on the statement of financial activitses. Impairment of fixed assets A review for indicators of impaiment is carried out at each reporling date, with the recoverable amount being estimated where suth indicators exist. Iwhere the carying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impaimients a also reviewed for possible reversal at each reporting date. For the purposes of impairment testing. when it Is not possible to estimate the recoverable amount of an individual asseL an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unli is the smallest Identifiable group of assets that indudes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For irnpaimient tsstirKJ of goodwill, the goodwll acquired in a business combination is, from the acquisition date, allorAtsd to each of the cash4Jenerating units that are expected to benefrt from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. Financ1 instruments A financial asset or a fsnancial liability is rewgnised only when the charity becomes a party to the ntractual provisions of the instrumenL Basic financial instruments a inittally recx)gnised at the amount receivable or payable including any related transaction costs. Current assets an¢J current liabilities are subsequenlly measured at the Gash or other consideration expected to be paid or received and not dcOUnted. Debt instruments are subsequenty measured at amortised cost. Where investments in shares are publicty trade(l or their fair value can otherWe be measured reliably. the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequenty measured at cost less impaiment. Other financbal instruments, induding derivalives. are initially recognised at fair value, unless payment for an asset is deferred beyond nonnal business tems or financed at a rate of interest that is not a market rate. in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrutnent. other financial instrumerrts are subsequenty m&qsured at fair value, with any changes recognised in the ststement of financial activ"rties. with the expIlOn of hedging instruments in a designated hedging latIOnshIp.
Latimer Congregational Church Notes to the Financial Statements {continuedJ Year ended 31 December 2024 Accounting policies {coftts"nuedJ Financial instruments (contlnue Financial assets that are measured at cost or amortised cost a reviewed for objective eviden of impairment at the end of each reporting date. If there is objective evidence of impairment. an impairment loss is recognised under the appropriate heading in the ststernent of financial activities in which the initial gain was recognised. For all equity instruments wardless of significan, arKI other financial assets that are individually significant, these are assessed indtvtdually for impainnenL Other financial assets are either assessed indivUaIty or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediatety, to the extent that the reversal does not result in a carying amount of the financial asset that exceeds what the carry5ng amount woukl have been had the impaiment not previously been recognised. Defined contrlbutlon plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent Ihat the prepayment will lead to a reduction In future payments or a cash refund. When contributions are not expected to be setded wholly within 12 months of the end of the reporting date in which the ernployees render the related service, the liabilty ts measured on a discounted present value basÉs. The unwinding of the discount ts recognised as an expense in the period in which st arises. Charitsble activities Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Sales - Latimer- Bookings Sales- Pemberton Bames & Donations Sales - Halrford Sales - Latimer~ Hall & Car park hire Other income Rental Norway Place 10,391 10,391 27,703 27,703 1.500 147.000 2,700 1,500 147,000 2.700 1.000 147,000 1.920 3.572 1,000 147,000 1,920 3,572 800 162,391 162,391 181,195 181.195 Investment Income UnTestricted Totsl Funds Unrestricted Totsl Funds Funds 2024 Funds 2023 Bank interest recerved 578 578 10
Latimer Congregational Church Notes to the Financial Statements {¢onfrnuedJ Year ended 31 December 2024 Costs of charttable activities Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Costs of raising donations and legacies - Other type 1 Costs of raising donations and legacies Other type 2 Costs of raising donations and legacies - Other type 3 136,657 136,657 101.388 101,388 6.053 6,053 6.022 6,022 76,608 76,608 9,004 219,318 219,318 116,414 116,414 Independent examination fees 2024 2023 Fees payable to the independent examiner for. Independent examination of the financtal statements 2.400 2,340 Staff costs The total staff costs and employee beneffts for the reporting period are analysed as follows: 2024 2023 Wages and salaries Employer contributions to penSn plans 67.657 5,190 46,831 6.865 72,847 53,696 The average head count of ernployees during the year was 2 (2023: 2). The average nurnber of full-time equivalent employees during the year is analysed as follows: 2024 2023 Number of staff No employee received employee beneffts of moTr than £60,000 during the year (2023: Nil). Trustee remuneration and expenses One trustee has been paid remuneration from employment wtth the charity. In addition, where remuneration has been received. the following must be disclosed: The name of the remunerated trustee is Pastor Sue Wade. The amount of reFnuneration paid is displayed under note 9. 11
Latimer Congregational Church Notes to the Financial Statements (continued) Year ended 31 December 2024 10. Tangible fixed assets Freehold property Cost At 1 January 2024 Additions 3,726,299 336,000 At 31 December 2024 4.062,299 Depreciation At 1 January 2024 and 31 December 2024 Carrying amount At 31 December 2024 4.062,299 At 31 Dmber 2023 3,726,299 11. Fixed assets Latimer Congregational Church owns Three Properties, the Church, Grange Fam - Halliford and the Manse. The Value of these assets for the period ending 31 st December 2024 are as follows; The Church £1,981.311 (£1.981,311 2022) Grange Fan - Halliford £1,532.433 {£1,532.433 - 2022) The Manse £375,555 (£175.555- 2022) NoNay Place Lirnehouse £373,000 The assels above a recogntsed in the statement of financial position for the year ended 31 st December 2024. 12. Creditors: amounts falling due wfthin one year 2024 2023 Trade creditors 2.400 2.707 13. Pensions and other post retirement ben6ffts Defined contribution plan5 The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £5,190 (2023: £6.865). 12
Latimer Congregational Church Notes to the Financial Statements (wytinuedj Year ended 31 December 2024 14. Analysis of charitable funds Unrestrictsd funds At Prior year 31 December Inwme Expenditure adjustrnents 2024 1 January 20 24 General funds Revaluation reserve Unrestricted fund 80 - desc in alcs 3.642,196 526,r11 162,969 (219,318) 3.585.847 526,771 1,507 1,507 4.168,967 162,969 (219,318) 1,507 4,114,125 At 1 January 20 23 At Prior year 31 Dernber Ino)me Expenditu adjustments 2023 General funds Revaluation reserve Unrestricted fund 80 - desc in alcs 3,577,415 526,T11 181.195 (116,414) 3,642,196 526,771 4,104,186 181,195 (116,414) 4,168,967 13
Latimer Congregational Church Management Infonnation Year ended 31 December 2024 The following pages do not fonn part of the financlal statements. 14
Latimer Congregational Church Notes to the Detailed Statement of Financial Activities Year ended 31 December 2024 2024 2023 Costs of Charitsble Activitles Cosls of raising donations and legacies . Other type 1 Wages and salaries Pension costs Service Chargel Ground Rent Light & heat Heafth & Safety 67,657 5,190 2,246 10,396 2.576 46,831 6,865 14.317 502 F- li Legal and professional fees Telephone Other office costs Cleaning and Pest control Security Costs Support Costs Purchase replacement 11.290 1,642 10,836 7.914 11,872 2,831 2,207 9,727 1,549 8,944 7,481 1.231 2.382 1.559 136,657 101,388 Costs of raising donations and legacles . Other type 2 Insurance IT Costs CCLI License & Stationery 5,149 327 577 4,464 1,349 209 6,053 6,022 Costs of raislng donations and legacles - Other type 3 Centre Repair & Maintenance 76,608 9,004 Costs of Charitable Actlvlties 219.318 116.414 16