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2023-12-31-accounts

Hope Church Sevenoaks

Report and Accounts Year ended 31 December 2023

Company registration number: 07867586 Charity registration number: 1145667

HOPE CHURCH SEVENOAKS

FOR THE YEAR ENDED 31 DECEMBER 2023

COMPANY INFORMATION

Directors / trustees Thomas Addy (appointed 15 April 2024) Thomas Addy (appointed 15 April 2024)
Steven Collins
Ian Lettington
Adam Northcroft
Oluwafisayo Onagoruwa
Nigel Parrington
Key staff Ian Lettington
Adam Northcroft
Governing Document Memorandum and Articles of Association dated November 2011
Company Registration Number 07867586
Charity Registration Number 1145667
Registered Office and The Mill Lane Centre
Principal Address Mill Lane
Sevenoaks
Kent
TN14 5AX
Independent Examiner Ajay Rajani FCIE
Stewardship
1 Lamb's Passage
London
EC1Y 8AB
Bankers Barclays Bank PLC
Leicester
Leicestershire
LE87 2BB
Solicitors Knocker & Foskett
The Red House
50 High Street
Sevenoaks
Kent
TN13 1JL
Contents Page
Company Information 1
Directors' Report 2-5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Accounts 9-16
Detailed Statement of Financial Activities with Comparatives 17

Page 1

HOPE CHURCH SEVENOAKS

REPORT OF THE TRUSTEES AND DIRECTORS

YEAR ENDED 31 DECEMBER 2023

The trustees have the pleasure of presenting their report and financial statements for the year ended 31 December 2023.

The accounts have been prepared in accordance with the accounting policies set out in note 2 to the accounts and comply with the charity's memorandum and articles of association, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)”.

Objectives and activities

The charity's objects for the public benefit are to advance the Christian faith, in accordance with the Statement of Beliefs, in Sevenoaks, and in such other parts of the United Kingdom or world as the Charity in general meetings may from time-to-time think fit and to fulfil such other purposes which are exclusively charitable according to law of England and Wales and are connected with charitable work of the Charity. This can be summarised as follows:

The trustees have paid due regard to the Charity Commission’s guidance on public benefit in planning the charity’s activities and the Charity Commissions Code of Governance in relation to its review and maintenance of its policies.

By its very nature the Christian Faith being rooted in the life and teachings of Jesus Christ has a strong positive influence through the Church into society. It remains extremely wide and powerful in its influence. The Christian faith brings a clear sense of meaning and purpose to life. The Christian faith helps and gives support to 'the poor' in its widest definition. It supports the essential societal foundational institutions of marriage and family, both in the promotion of and the engagement with marriage and family according to God's outstanding wisdom. The Christian faith expressed through charity helps those entering into marriage and parenting through advice, marriage/parenting preparation, personal example and marriage and parenting classes. The principled moral fabric provided by the Christian faith ensures a society that cares, values justice, treats all human life with dignity and kindness.

Chair’s report

We have continued to be blessed through the past year as we continue to see the church grow, both in terms of overall membership and maturity. Our eldership team have been able to focus on teaching, studying and serving the church well. We were able to appoint an administrator and also a new part time leader for the children’s work, providing additional talent and capacity.

We have continued to develop our work for younger people, and have seen both our children’s work and youth work blossom. We have been able to run Alpha courses during the year, and also hosted a number of regional conferences for New Ground members. We have seen eight members complete the New Ground Academy, a two-year theology study course.

Page 2

HOPE CHURCH SEVENOAKS

REPORT OF THE TRUSTEES AND DIRECTORS CONTINUED

YEAR ENDED 31 DECEMBER 2023

Our commitment for overseas mission remains constant. We have provided financial support for outreach into Germany and Kenya, and continue to work alongside other New Ground churches to support churches in Poland and Ukraine to provide both practical support in terms of supplies, as well as apostolic and prayer support.

The Sevenoaks Larder food bank continues to operate from the building, providing support for an increasing number of families in the local community. We have also been able to better use our building through additional lettings to support the community.

As trustees, we recognise the economic impact of inflation on the overall cost of living and operating as a charity. We have continued to monitor our reserves and pray in faith for God’s provision for His work in Sevenoaks and beyond. We have focussed on developing people, at home and abroad to see God’s kingdom grow, whilst reviewing critical infrastructure investment.

Purpose and achievements

Hope Church upholds the aims and ethos of the Christian faith. This combines the outworking of the Christian faith for our members and in our society, along with specific work into communities we support both locally and further afield. This has included:

  1. Sunday worship and teaching - the church holds regular Sunday services and mid-week meetings for church members although anyone is welcome to attend.

  2. Connect Groups – regular times for church members to study and pray together.

  3. Alpha - a series of seminars and discussion groups for Christians and non-Christians, which includes meals and special days.

  4. Kids work (0–11-year old’s) - a weekly extension of church for church member's children and visitors, including an online programme when we were unable to meet in person.

  5. Youth work (11–18-year old’s) - weekly and monthly meetings, bible studies and activities for young people designed to encourage them on their journey to faith and living a dynamic faith-filled life.

  6. Prayer - regular monthly prayer meetings, weekly Wednesday mornings and dedicated weeks of prayer throughout the year.

  7. Overseas mission work – we continue to provide financial and prayer support to work in Africa, Germany and into Ukraine, through other New Ground churches and the wider mission of New Frontiers International.

  8. Support to the Sevenoaks Larder – we have continued to allow use of the building to facilitate the work of the charity, providing food to families and individuals in need. This now supports more than 100 families per week.

Plans for the future

As trustees, we look forward to 2024 with a focus on teaching and discipleship and will continue to support those in need, both locally and overseas. We will be hosting the NEXT programme for internships across the New Ground churches and develop our marriage course alongside Alpha and the church membership course. We recognise the ongoing economic challenges and continue to trust in God for his provision. We will hold a whole church away day, to give us time as a community for fellowship and teaching. We look forward to seeing the eldership team flourish and strengthening staff team and trustees. We seek to extend our ability to serve our church members, and reach further into our communities, working with New Ground and other local partners.

Page 3

HOPE CHURCH SEVENOAKS

REPORT OF THE TRUSTEES AND DIRECTORS CONTINUED

YEAR ENDED 31 DECEMBER 2023

We will continue to support our sister churches in Poland and Ukraine, the mission work in Germany and Kenya, and continue our sponsorship of children in Kenya through Compassion.

Financial review

The charity derives the majority of its income from voluntary donations and associated income tax recovery from gift aid donations. These donations are a combination of monthly and one off donations. The principal areas of expenditure are salaries and related staff costs and the running costs of the church premises.

During the year, there was a deficit of unrestricted income over expenditure of £68,883 (2022: deficit £20,507) and the charity’s unrestricted net assets decreased by that amount to £1,248,506. The charity’s unrestricted net current assets (which is a measure of the charity’s working capital) have decreased by £52,188 to £185,253. On restricted funds, there was a surplus of income over expenditure of £412 (2022: surplus £845) and the charity’s restricted net assets increased by that amount to £7,229.

Reserves Policy

The reserves policy requires the charity to maintain unrestricted undesignated cash at a level equivalent to at least three months unrestricted expenditure, being approximately £86,000. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities whilst consideration is given to ways in which additional funds may be raised. The charity ended the year with unrestricted undesignated cash of £152,619 and the trustees are satisfied that the charity is complying with its reserves policy.

Risk Statement

The trustees have assessed the major risks to which the charity is exposed at various trustees’ meetings, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The Charity is a company limited by guarantee governed by memorandum and articles of association. The trustees, who are also the directors for the purpose of company law, and who have served since the previous balance sheet date are named on page 1, ‘Company Information’. Trustees are appointed and removed by Members who are the Trustees of the church. Trustees may appoint new trustees however they must resign and be re-appointed at the next Annual General Meeting (AGM).

Elders and existing trustees ensure that new trustees are aware of their legal obligations under charity law together with the operations of the charity.

The trustees have overall legal, financial and management responsibility and meet regularly throughout the year.

A largely separate ministry team comprising Elders and other lay-workers had overall responsibility for spiritual leadership and for the day to day running of the church.

Page 4

HOPE CHURCH SEVENOAKS

REPORT OF THE TRUSTEES AND DIRECTORS CONTINUED

YEAR ENDED 31 DECEMBER 2023

The church is affiliated to New Ground Churches (Company Number 06281483), which is a group of churches across the UK and Europe related to the New Frontiers International family of churches (Company Number 02535392).

Statement of Trustees’ Responsibilities

The trustees, who are also the directors of Hope Church Sevenoaks for the purpose of company law, are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approval

This report, which has been prepared in accordance with the provisions of the Companies Act 2006 relating to small companies, was approved by the trustees and signed on their behalf by

Steven P Collins Steven P Collins (Jul 15, 2024 16:00 GMT+1) Steven Collins Date: Jul 15, 2024 Chair of Trustees

Page 5

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF

HOPE CHURCH SEVENOAKS ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023 on pages 7 to 17 following, which have been prepared on the basis of the accounting policies set out on pages 9 and 10.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner’s statement

Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a Fellow of the Association of Charity Independent Examiners, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 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 an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Ajay Rajani

Ajay Rajani (Jul 19, 2024 09:02 GMT+1)

Ajay Rajani FCIE Fellow of the Association of Charity Independent Examiners Stewardship 1 Lamb's Passage London EC1Y 8AB

Date: Jul 19, 2024

Page 6

HOPE CHURCH SEVENOAKS

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Charitable activities
4
Interest receivable
Total income and endowments
EXPENDITURE ON:
Charitable activities:
5
Total expenditure
Net income / (expenditure)
Transfers between funds
12
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
12		 Unrestricted
Funds
£
257,970
21,721
31
279,722
348,605
348,605
(68,883)
-
(68,883)
1,317,389
1,248,506		 Restricted
Funds
£
4,276
16,588
-
20,864
20,452
20,452
412
-
412
6,817
7,229		 Total
Funds
2023
£
262,246
38,309
31
300,586
369,057
369,057
(68,471)
-
(68,471)
1,324,206
1,255,735		 Total
Funds
2022
£
291,103
10,521
1
301,625
321,287
321,287
(19,662)
-
(19,662)
1,343,868
1,324,206

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing operations.

The statement of financial activities also complies with the requirements for an income and expenditure account required by the Companies Act 2006.

The notes on pages 9 to 16 form part of these accounts.

Page 7

HOPE CHURCH SEVENOAKS

BALANCE SHEET

AS AT 31 DECEMBER 2023

Note
FIXED ASSETS
Tangible assets
7
CURRENT ASSETS
Debtors
8
Cash at bank and in hand
9
CREDITORS: Amounts falling
due within one year
10
Net current assets
TOTAL NET ASSETS
FUND BALANCES
12
Unrestricted Funds
General funds
Designated funds
Restricted Funds		 Unrestricted
Funds
£
1,063,253
24,328
172,330
196,658
11,405
185,253
1,248,506
1,222,998
25,508
1,248,506
-
1,248,506		 Restricted
Funds
£
-
8,726
6,874
15,600
8,371
7,229
7,229
-
-
-
7,229
7,229		 Total
Funds
2023
£
1,063,253
33,054
179,204
212,258
19,776
192,482
1,255,735
1,222,998
25,508
1,248,506
7,229
1,255,735		 Total
Funds
2022
£
1,079,948
14,651
241,108
255,759
11,501
244,258
1,324,206
1,287,333
30,056
1,317,389
6,817
1,324,206

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006 however, in accordance with Section 145 of the Charities Act 2011, the accounts have been examined by an independent examiner and their report has been included in these financial statements.

The directors (who are the charitable company's trustees for the purposes of charity law) acknowledge their responsibilities for:

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors and were signed on its behalf by:

IanLettington Jul 16, 2024 IanLettington (Jul 16, 2024 13:50 GMT+1) ----------------------------------------------------------------------------Ian Lettington Date Trustee Company number: 07867586 Charity number: 1145667

The notes on pages 9 to 16 form part of these accounts.

Page 8

HOPE CHURCH SEVENOAKS

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2023

1 Statutory Information

The charity is a charitable company limited by guarantee and is incorporated in the United Kingdom. The company's registered number and registered office address can be found on the Company Information page.

2 Accounting Policies

These financial statements are prepared on a going concern basis, under the historical cost convention.

These 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 (FRS 102) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102"), with the Companies Act 2006 and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.

The principles adopted in the preparation of the financial statements are set out below.

a) Going concern

The trustees (who are the charitable company's directors for the purposes of company law) have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

b) Income

Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.

Income from donations and legacies includes recoverable gift aid, which is recognised when the related donation is received. Gift aid that has not been recovered by the balance sheet date is included as a debtor.

Income from charitable activities comprises income from events and courses organised by the church and from letting the church building for activities that benefit the local community.

The charity relies on volunteers to carry out many of its activities. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.

c) Expenditure

Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.

The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.

Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.

Page 9

HOPE CHURCH SEVENOAKS

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2023

d) Fund accounting

e) Tangible fixed assets

Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £500 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective the following rates of depreciation are charged:

Land and buildings

Land and buildings Land, which was valued on 30 April 2012 at £400,000, is not depreciated. Buildings are depreciated over 50 years after taking account of the building's residual value. Equipment Over 3 to 7 years

The carrying values of tangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate that the carrying value may not be recoverable.

f) Retirement benefits

The charity operates defined contribution pension scheme for its employees. Obligations for contributions to this scheme are recognised as an expense when the liability arises. The assets of this scheme are held separately from those of the charity in independently administered funds.

g) Taxation

The company is a registered charity; it has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.

h) Financial instruments

The charity's financial assets and financial liabilities all qualify as basic financial instruments, as defined by FRS102. Creditors and debtors are measured at their expected settlement value (normally the amount of cash that the charity expects to pay or receive). Cash and cash equivalents include cash in hand and deposits held at call with banks.

i) Exemption from preparing a cashflow statement

The charity has taken advantage of an exemption conferred by the Charities SORP and has not prepared a cash flow statement.

j) Critical accounting estimates and areas of judgement

ln preparing these financial statements certain judgements, estimates and assumptions have been made that affect the depreciation charged in these financial statements. The annual depreciation charge for property, plant and equipment is sensitive to changes in the estimates for useful economic life and residual value. These estimates are reassessed annually and, when necessary, adjusted to reflect current circumstances.

Page 10

HOPE CHURCH SEVENOAKS

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2023

3 Donations and legacies

Donations and related gift aid
4
Income from charitable activities
Book Sales
Letting of facilities
Events
Courses
Other income
5
Charitable expenditure
a
Costs incurred directly on specific activities
Staff costs
Depreciation and impairment
Premises costs
Church events and other ministry expenses
Children and youth work
Evangelism
Mission to Ukraine
Leaders expenses and training
Music expenses and repairs
Gifts for visiting speakers
Insurance
Grants (see note 5c)
b
Costs incurred on support & administration
Governance costs
Fee for examining the accounts
Staff costs
Administrative expenses
Total expenditure
Contributions from another church towards cost of
providing aid to Ukraine / Poland		 Unrestricted
Funds
£
257,970
Unrestricted
Funds
£
480
7,390
10,168
1,230
-
2,453
~~21,721~~
Unrestricted
Funds
£
170,190
24,771
29,716
24,043
12,286
114
-
3,855
1,736
1,450
4,930
273,091
37,120
310,211		 Restricted
Funds
£
4,276
Restricted
Funds
£
-
-
-
-
16,588
-
~~16,588~~
Restricted
Funds
£
-
-
-
-
-
-
5,138
-
-
-
-
5,138
15,314
20,452
-
-
-
-
20,452		 Total
2023
£
262,246
Total
2023
£
480
7,390
10,168
1,230
16,588
2,453
~~38,309~~
Total
2023
£
170,190
24,771
29,716
24,043
12,286
114
5,138
3,855
1,736
1,450
4,930
278,229
52,434
330,663
1,800
16,138
20,456
38,394
369,057		 Total
2022
£
291,103
Total
2022
£
601
4,260
4,681
-
-
979
~~10,521~~
Total
2022
£
150,096
26,165
32,997
4,343
11,922
329
9,563
2,707
1,967
300
4,101
244,490
51,373
295,863
1,800
16,138
20,456
38,394
348,605		 1,740
5,462
18,223
25,425
321,287

In addition to the fees payable for the preparation and examination of the 2023 accounts, the charity paid £926 (2022: £923) to Stewardship for payroll bureau and consultancy services.

Page 11

HOPE CHURCH SEVENOAKS

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2023

5c Grants payable

Grants payable
Grants for UK and overseas mission
Grants to assist those in poverty or in crisis
Grants to assist those in poverty or in crisis - Ukraine
The comparatives for the previous year are as follows:
Grants for UK and overseas mission
Grants to assist those in poverty or in crisis
The charity's principal grants to institutions comprised:
New Ground Churches
Catalyst (for Ukraine)
Compassion UK
Small grants to other institutions		 Institutions
£
27,400
1,360
-
28,760
Institutions
£
21,050
12,711
33,761		 Individuals
£
9,721
645
13,308
23,674
Individuals
£
15,595
2,017
17,612
2023
£
27,400
-
1,320
40
28,760		 2023
£
37,121
2,005
13,308
52,434
2022
£
36,645
14,728
51,373
2022
£
21,050
12,549
-
162
33,761

6 Analysis of staff costs, the cost of key management personnel and trustee remuneration

Gross wages and salaries
Social security
Pension costs		 2023
£
169,672
11,947
4,709
186,328		 2022
£
141,308
10,291
3,958
155,557

Most of the charity's activities are carried out by volunteers. The average monthly number of employees during the year was:

Ministerial staff
Administrative support staff		 2023
Number
4
1
5		 2022
Number
2
2
4

No staff received salaries at a rate of more than £60,000 per annum. Most of the charity's activities are carried out by volunteers.

The charity's key management comprise the trustees and the key staff named on the Company Information page. Total employment benefits payable to key management for the year were as follows:

loyment benefits payable to key management for the year were as follows:
Employer
Wages &
pension
salaries
contributions
Adam Northcroft, who is a trustee
52,737
1,582
Ian Lettington, who is a trustee
58,195
1,746		 2023
£
54,319
59,941
114,260

Page 12

HOPE CHURCH SEVENOAKS

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2023

6 Analysis of staff costs continued

The following amounts were charged in the previous year:

following amounts were charged in the previous year:
ysis of staff costs continued
Employer
Wages &
pension
salaries
contributions
Adam Northcroft, who is a trustee
43,333
1,300
Ian Lettington, who is a trustee
57,347
1,720		 2022
£
44,633
59,067
103,700

Both Adam Northcroft and Ian Lettington were employed to serve as a church leaders. They received the above payments for serving in those capacities, not for serving as trustees; these payments are permitted by the charity's governing document.

7 Tangible fixed assets

Tangible fixed assets
Cost
At 1 January 2023
Additions
At 31 December 2023
Accumulated depreciation
At 1 January 2023
Charge for the year
At 31 December 2023
Net book value
At 31 December 2023
At 31 December 2022		 Land and
buildings
£
1,250,000
-
1,250,000
181,333
17,000
198,333
1,051,667
1,068,667		 Fixtures,
fittings and
equipment
£
150,012
8,076
158,088
138,731
7,771
146,502
11,586
11,281		 Total
2023
£
1,400,012
8,076
1,408,088
320,064
24,771
344,835
1,063,253
1,079,948

Land and buildings comprises a freehold property transferred from Sevenoaks Town Church charitable trust (STC) to Hope Church Sevenoaks (HCS) on 30 April 2012 when HCS commenced its activities. The market value at that date was estimated by the trustees to be £1,250,000.

8 Debtors

Falling due within one year:
Trade debtors
Tax recoverable
Other debtors
Prepayments and accrued income
at Bank and in Hand
Cash at bank with immediate access
Petty cash		 2023
£
620
16,242
4,658
11,534
33,054
2023
£
179,204
-
179,204		 2022
£
656
3,308
4,408
6,279
14,651
2022
£
240,948
160
241,108

9 Cash at Bank and in Hand

Page 13

HOPE CHURCH SEVENOAKS

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2023

10 Creditors: liabilities falling due within one year

itors: liabilities falling due within one year
Trade creditors
Taxation and social security
Other creditors
Accruals
Grant obligations		 2023
£
11,853
4,658
937
2,328
-
19,776		 2022
£
2,317
4,408
832
2,344
1,600
11,501

11 Pension commitments

During the year employer’s pension contributions totalling £4,709 (2022: £3,958) were payable to defined contribution personal pension schemes. At the balance sheet date pension contributions totalling £937 (2022: £832) were owed.

12 Funds

During the year the movements in the charity's funds were as follows:

Designated Funds
Building fund
Savings
General Unrestricted Funds
Total Unrestricted Funds
Restricted Funds
Help fund
Webbs fund
Sevenoaks Larder fund
Ukraine fund
Aggregate of funds
Analysis of net assets by fund		 Opening
balance
2023
£
1,251
28,805
30,056
1,287,333
1,317,389
6,537
240
40
-
6,817
1,324,206		 Incoming
resources
2023
£
-
-
-
279,722
279,722
31
1,466
-
19,367
20,864
300,586		 Outgoing
resources
2023
£
-
(4,548)
(4,548)
(344,057)
(348,605)
(645)
(1,321)
(40)
(18,446)
(20,452)
(369,057)		 Transfers
in the year
2023
£
-
-
-
-
-
-
-

-

-

-
-		 Closing
balance
2023
£
1,251
24,257
25,508
1,222,998
1,248,506
5,923
385
-
921
7,229
1,255,735

The assets and liabilities of the various funds were as follows:

Fixed assets
Debtors
Cash at bank and in hand
Current liabilities		 General
Designated
funds
funds
£
£
1,057,456
5,797
24,328
-
152,619
19,711
(11,405)
-
1,222,998
25,508
Unrestricted Funds		 Restricted
funds
£
-
8,726
6,874
(8,371)
7,229		 2023
£
1,063,253
33,054
179,204
(19,776)
1,255,735

Page 14

HOPE CHURCH SEVENOAKS

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2023

12 Funds continued

In the previous year the movements in the charity's funds were as follows:

Designated Funds
Building fund
Savings
General Unrestricted Funds
Total Unrestricted Funds
Restricted Funds
Help fund
Webbs fund
New Ground Churches fund
Sevenoaks Larder fund
Ukraine fund
Aggregate of funds		 Opening
balance
2022
£
4,329
33,614
37,943
1,299,953
1,337,896
5,972
-
-
-
-
5,972
1,343,868		 Incoming
resources
2022
£
-
-
-
276,644
276,644
1,500
5,035
50
202
18,194
24,981
301,625		 Outgoing
resources
2022
£
(3,078)
(4,809)
(7,887)
(289,264)
(297,151)
(935)
(4,795)
(50)
(162)
(18,194)
(24,136)
(321,287)		 Transfers
in the year
2022
£
-
-
-
-

-
-
-
-
-
-
-
-
 Closing
balance
2022
£
1,251
28,805
30,056
1,287,333
1,317,389
6,537
240
-
40
-
6,817
1,324,206

Analysis of net assets by fund

In the previous year the assets and liabilities of the various funds were as follows:

ysis of net assets by fund
e previous year the assets and liabilities of the various		 funds were as follows:
Fixed assets
Debtors
Cash at bank and in hand
Current liabilities		 General
Designated
funds
funds
£
£
1,070,149
9,799
14,651
-
214,034
20,257
(11,501)
-
1,287,333
30,056
Unrestricted funds		 Restricted
funds
£
-
-

6,817
-
6,817		 2022
£
1,079,948
14,651
241,108
(11,501)
1,324,206

Designated funds

Building fund : these funds were set aside by the trustees for the purpose of maintaining and improving the building. Savings fund : these funds have been set aside by the trustees for various infrastructure projects.

Restricted funds

The Help fund represents donations received for to help those in poverty or in crisis.

The Webbs fund represents donations received to support the work done by missionaries. The Sevenoaks Larder fund represents donations received to help support a foodbank.

The Ukraine fund represents income received to help those affected by the war in Ukraine. It has largely been used to help cover the cost of delivering aid to Ukraine and Poland and to make grants to Catalyst to support their work amongst those affected by the war.

Page 15

HOPE CHURCH SEVENOAKS

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2023

13 Transactions with related parties

During the year the charity:

Except as disclosed in note 5 'Analysis of staff costs', there have been no other transactions with related parties during the year.

14 Members

Each member of the company commits to contribute if the charity is wound up an amount of £10.

Page 16

HOPE CHURCH SEVENOAKS

DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES

FOR THE YEAR ENDED 31 DECEMBER 2023

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Charitable activities
Interest receivable
Total income and endowments
EXPENDITURE ON:
Charitable activities
5
Total Expenditure
Net income/(expenditure)
Transfers between funds
12
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
12		 2023
2022
£
£
257,970
266,122
21,721
10,521
31
1
279,722
276,644
344,057
289,264
344,057
289,264
(64,335)
(12,620)
-
-
(64,335)
(12,620)
1,287,333
1,299,953
1,222,998
1,287,333
Unrestricted Funds - General		 2023
2022
£
£
-
-
-
-
-
-
-
-
4,548
7,887
4,548
7,887
(4,548)
(7,887)
-
-
(4,548)
(7,887)
30,056
37,943
25,508
30,056
Unrestricted Funds - Designated		 2023
2022
£
£
4,276
24,981
16,588
-
-
-
20,864
24,981
20,452
24,136
20,452
24,136
412
845
-
-
412
845
6,817
5,972
7,229
6,817
Restricted Funds		 Total
Funds
2023
£
262,246
38,309
31
300,586
369,057
369,057
(68,471)
-
(68,471)
1,324,206
1,255,735		 Total
Funds
2022
£
291,103
10,521
1
301,625
321,287
321,287
(19,662)
-
(19,662)
1,343,868
1,324,206

Page 17