EMMANUEL CHURCH WIMBLEDON (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT For the year ended 31 December 2024 Company number- 07904564 Charity number- 1146577
EMMANUEL CHURCH WIMBLEDON For the year ended 31 December 2024 Contents Charity information Trustees, annual report Independent auditor's report 8-10 Statement of financial activities Balance sheet 12 Statement of cashflows 13 Notes to financial statements 14-25
EMMANUEL CHURCH WIMBLEDON For the year ended 31 December 2024 Charity information Company registration number.. 07904564 Charity registration number., 1146577 Directors l Trustses: C Stansfield SK Blows IP Buchan EJ Coleridge JM Grainger T McGhee D Poole (resigned 23 January 20251 (resigned 15 May 2025} (appointed 25 June 2025) Registered office: Emmanuel Church 24 Ridgway London SW19 4QL Bankers: Bank of Scotland 41 South Gyle Crescent Edinburgh EH12 9DR Independent auditor: Xeinadin Audit Limited 5 Robin Hood Lane Sullon Surrey SM12SW
EMMANUEL CHURCH WIMBLEDON For the year ended 31 December 2024 Trustees, annual report Introduction The Trustees of Emmanuel Church Wimbledon have pleasure in presenting their report along with the financial statements of Emmanuel Church. Wimbledon for the year ended 31 December 2024. The annual report serves the purposes of both a Trustees, Report and a Directors. Report undef company law. These have been prepared in accordance with the Companies Act 2006. the Charities Slatemenl of Recommended Practice {Charities SORP IFRS 10211, Financial Reporting Standard 102 {FRS 1021 and the Charities Act 2011. STRUCTURE GOVERNANCE AND MANAGEMENT Organisational Structure, governance and management Emmanuel Church Wimbledon is incorporated in England and Wales and registered with Companie5 House with company number 07904564, and with the Charity Commission with charity number 1146577. The Trustees are members oflhe company limited by guarantee and the members are also known as the patrons. The Truslees are all qualified professionals andlor experienced business people. As such they bring their own in-depth knowledge lo the Trustee body. In addition. the Trustees are regularly updated through circulars on trustee matters and seek expert professional guidance if needed. The criterion for Emmanuel patrons is that they must be Bible-believing Christians, and affirm in writing their agreement with the Thirty-Nine Articles of the Church of England. Trustees are appointed to be Trustees by ordinary resolution of the patrons. Governance at Emmanuel is delivered by the trustees together with elected commillèes with specific areas of responsibility. Trustees.. compliance with Emmanuel's legal responsibilities as a registered charity, including oversight of finances, HR and safeguarding. The Iruslees during the year were.. Simon Blows lan Buchan (Warden) Ed Colèridge (Treasurer) Jo Grainger Tina McGhee Claire Slansfield (Warden) The trustees are supported by UK Mission Committee which sUPPOrts the proclamation of the gospel in the UK. International Mission Committee which supports the proclamation of the gospel overseas by organisations and individuals associated wilh Emmanuel Church. Youth committee which supports and coordinatès the activities of children's and teenagers, groups of the church. Safeguarding team which handles mallers arising and ensures our DBS and training requirements are in compliance. Ministry Team.. prioritisation and allocation of resour¢es to progress specific areas of ministry and mission. The Ministry team during the year were.. Robert Frazer {Operalions manager) Luke ljaz (Senior minister) Andrea Mukhtar (Women's worker) Joanna Svarovsky (Elected) Steve Wilson (Elecledl Nick Wooldridge (Associate Minister) Felicia Wong (Elected) 3. Church Council.. elected advisory board providing feedback from the church family lo the minister and staff team. During the year these were.. Martin Andrews Juliet Blows Trevor Dearham Michelle King David Poole Claire Stone Rebecca Stone Liz Watts Agnes Wilson
EMMANUEL CHURCH WIMBLEDON For the year ended 31 December 2024 Trustees, annual report (continued) Elders.. advisory group comprising clergy and elected elders responsible for spirtlual oversight, support of the incumbent and prayer. During the year these were.. Christopher Berkeley Donald Clarke Robin Thomson Nick Wooldridge Risk Managem8nt The Truslees continue lo monitor the risks lo which Emmanuel is exposed and mitigate these risks with appropriate policies and practices. In particular the Trustees have identified the following areas representing the major risks the church faces.. Safe9uarding risks.. actions are taken lo ensure that the church follows the policies and practices laid down by the Diocese of Southwark, lo include appropriate training and DBS checks, for all volunteers and staff working with children and vulnerable adults. The Trustees and the safeguarding officers continue lo monitor and address safeguarding issues that arise. A protocol with Southward Diocese (signed in December 2023} was introduced in January 2024 at the licensing of our new senior minister. While this is not a legally binding agreement. it is designed lo promote closer collaboration between Emmanuel and the diocese, particularly with respect lo safeguarding best praGti¢e. Financial risks.. appropriate procedures are in place lo ensure correct handling of all income, and the necessary aulhorisation and approval for all expenditure. In particular, budgets are produced to enSLtre that adequate reserves are held in addition to the annual income from members of Emmanuel lo meet all running costs. and also lo meet the grant commitments over a maximum of three years. Property risks.. the properties owned by the Church are maintained lo a satisfactory and safe level. The main church building is also maintained lo ensure the safely of all people who allend either regular Sunday services, or smaller gatherings during the week, or more subslanlial events at key festivals where care is taken lo ensure appropriate stewarding and evacuation processes are in place. In December 2024 8 significant programme of refurbishmenl was carried out on our 226 Worple Road property, in preparation for the arrival of our new associate minister, Leon Sim and his family. OBJECTIVES AND ACTIVITIES Emmanuel's Mlssion and Prlorltles At Emmanuel we believe our Mission 1$ to glorify God by.. listening and responding to God's Word obediently., loving one another practically., and proclaiming Christ boldly. We believe that this Mission will be achieved by focusing on the following priority areas, individually and as a body. Bible Teaching The study and exposition of the Word of God is the catalyst for the ongoing transformation of individuals, lives and of the church body as a whole. We are lo apply the Word of God lo every aspect of our lives, both private and public, individual and community, so that we live and demonslrale the truth of the Gospel. Prayer and Praise - Nothing can happen in our own strength and we must be a praising and praying church bolh in our lives and in our meetings, humbly dependent on the sovereign working of our gracious God. 3. Care and Support-we should love, care, and SUPF)0rt each otherwithin and across every part oflhe church fellowship. We believe small groups provide a helpful environment for support and care and also for growth and life changing development through the study of God's word. prayer and close friendships. Reaching out - We are commanded to love our "neighbourf, as ourselves. We are responsible bolh lo demonstrate God's love and lo share the Good News ofJesus with those who are lost. We are therefore committed to loving seNice and unceasing witness to our'neighbours. all those around us wilh whom God has given us contact. Sending out - We are committed lo the sending out of labourers into the worldwide harvest field and our prayer is that Ihere should be those from Emmanuel serving throughout the world.
EMMANUEL CHURCH WIMBLEDON For the year ended 31 December 2024 Trustees, annual report (continued) Key Activities The church's key activities are therefore.. The work at Emmanuel itself in teaching God'5 Word in church services and through smaller groups and youth groups. in encouraging and supporting each other and in evangelism. Support of gospel work in the UK through prayer, grant-making and other practical help where necessary. Support of gospel work overseas also through prayer, granl-making and other practical help where necessary. Al the year end, Emmanuel had three salaried full-time staff and five part-lime staff. Our new senior minister, Luke ljaz, was licensed in January 2024. Following the departure ol Nick Wooldridge lassociale minister}, our new associate minister, Leon Sim, was appointed in September 2024 and joined the staff team in March 2025. Apart from this, the majority of Emmanuel's work is carried out by volunteers, whether working within the church in teaching, youth work, evangelism etc., or involved in caring for the Churches and missionaries that we support in the UK and Overseas. The Trustees would like lo thank all those who volunteer their services lo help run and administer Emmanuel. Many people give subslanlial amount of time lo ensure that Emmanuel runs effectively. These contributions by volunteers help the church to minimise administration costs with the consequence that Emmanuel is able lo allocate a significant proportion of funds to support Gospel work away from Wmbledon. Public Benefit The Trustees are aware of the Guidance promulgated by the Charity Commission under the Charities Act 2011 in relation lo Public Benefit and are mindful of their obligations to have regards Iherelo. Emmanuel advances religion for the public benefit by promulgating the good news of the Christian gospel within Wrnbledon and also by supporting individuals, churches and organisalions elsewhefe in the UK and around the world with that same end. We believe that it is lo the eternal benefit of all people to have the opportunity lo hear and respond lo the invitation of salvation from our loving God and Emmanuel aims lo give a subslanlial proportion of ils income lo supporting work outside the church. The amount given is regularly reviewed in the light of forecast income levels and the financial needs of the church itself. Emmanuel also provides a very local public benefit in many ways. The church is well-maintained and is open to any who wish lo attend the Sunday services, with the building also being used by local schools on occasion. The Christian faith is laughl every Sunday and at the many different weekday small group meetings lo ensure the faith is understood and pul into practice by members of the church. All children are welcome to join our youth groups which range from preschool through to Acom, our group for 14-18 year olds. These groups seek lo teach the Christian faith as appropriate for the particular age, along with the moral and ethical framework that goes with it. Various evangelistic events are held throughout the year, to explain the Christian faith to those who are not members of the church and Emmanuel is also involved in the local community. Various crèches Mums & Tols and Dads & Tols groups are run free a5 a Servi for non-Emmanuel parents and these are well attended Our building and garden are made avai18ble for local organisalions and societies such as Arty Party, Monkey Music. Montessori School and the Wimbledon Society. Emmanuel supports the Wimbledon community by encouraging members to train and serve as Street Pastors. This national organisation seeks to provide support from local church volunteers for those present in town centres late on Friday and Saturday nights. Emmanuel is also a supporterof Wimbledon Options (Pregnancy Resource Centrel which provides practical help and advice lo pregnant women in the locality. There is a monthly Japanese service and other events for the Japanese community. Emmanuel hosts occasional evenls for local schools. Senior Management remuneration Emmanuel works lo a long established principle of employing the minister and associate ministers on the basis that they are ordained in the Church of England, and as such their remuneration is sel by reference lo an enhanced scale based on the Diocese of Soulhwark pay scales for clergy. Accommodation is provided for ministers on the basis that they are employed as ministers of religion and are required lo live in the accommodalion for the furtherance of their pastoral duties in Wimbledon.
EMMANUEL CHURCH WIMBLEDON For the year ended 31 December 2024 Trustees, annual report (continued) ACHIEVEMENTS AND PERFORMANCE Review of activities Key themes in 2024 This was a year of healing and fesloralion under the leadership of our new senior minister, Luke ljaz. He spent much of his firsl year getting to know the church family and discerning where relationships needed lo be restored. Luke also invested time lo evaluate the reasons for Emmanuel's complex governance structure, seeking lo understand what worked well and what was unhelpful. By the year-end he was able to share his vision of how a simplified slruclure, a new chufch council, would provide a more transparent and effective way lo lead our church forward. Thanks to the a generous contribution from a membef of the church family, we were able lo sustain missionary giving al £140,000 for 2024 and 2025. However, the treasurer highlighted the need, at church family meetings, lo recalibrale our missionary giving in order to make it sustainable in the longer term. This direction of travel will likely become evident in future church budgets. Youth numbers had been falling in recent years, bul in 2024 attendance slabilised and started to grow. This was especially evident and encouraging amongst our teenage youth groups. A focus on outreach during Advent demonstrated our revived commitment lo reaching Wimbledon Village after several years in which we were preoccupied by internal changes. We have rejoiced in a growing number of visitor5 and newcomers durin9 the course of 2024. Support for Gospel Work In the UK During the year Emmanuel has helped fund associate ministers and youth workers at a number of different churches across the UK, many of which operate in difficult areas or are in early growth mode. The UK Mission Commillee has kept in contact with the vafiOUS churches and individuals, reviewing their needs and helping the members al Emmanuel to be involved in carin9 for and praying for them. Support for Gospel Work Overseas Emmanuel has continued lo fund missionary workers and organisations in many different parts of the world, including Mozambique, India, and several different areas of Africa, as well as giving towards the general funds of several mission agencies which support overseas workers. We have also sought lo provide help and advice to those from Emmanuel who are considering going overseas. The Inlemalional Mission Committee has worked closely with those we support lo ensure that their needs are mel and that they are supported in prayer, FINANCIAL REVIEW Income About 709/0 of the Church's income is received from standing orders and other planned giving. however people do also give to the work on a 'one off basis as well. Over the course ofthe year, income was lower than 2023 al £568,08712023.' £698,231). Last yearfs giving included one very large 'one off gift of over £100,000. The Trustees are very grateful lo everyone who conlribules to Emmanuel, particularly those who give by monthly standing order or other regular planned giving. Costs Operating costs of £798,858 were lower than 20231£873,6581, mainly due to last year's costs including work required to refresh the parsonage. Grants Emmanuel provides grants in accordance with ils Mission and Priorities, outlined above. In particular, the church supports UK and overseas missionaries and those training for ordination or studying fof Gospel work. The UK and International Mission Committees work to agreed budgets, and select and commit to any grant on the basis of clearly defined criteria. Grants were in line with budgets al £220,000. Cash and Resenies The policy of the Truslees is to endeavour lo maintain free cash reserves amounting lo 2-3 months of operational expenditure, of around £1 OOk-£150k By the end of the year, cash in our bank account was al £172,539. Total funds were £7,310,491, of which £241,465 are endowed and none are restricted.
EMMANUEL CHURCH WIMBLEDON For the year ended 31 December 2024 Trustees, annual report (continued) Investmentpolicy andperformance Surplus funds are held in a Bank of Scotland feserve accounl in order to generate interest income while being readily available, Other investments are in units in the M&G Charifund {endowment fund), according lo the restrictions over it. Investment performance was in line with our expectations for the year. Related party transactions Related party transactions are disclosed in note 6 in relation to the salaries and pension costs of staff who are a150 on the Church Council. Further Related Party disclosure is in note 17. Multi-employerpension scheme Emmanuel participates in the Church of England Funded Pensions Scheme. This is a defined benefit pension scheme. Emmanuel is unable to identify ils share of the undeflying asse15 and liabilities, therèfore as required under FRS 102 the present value of the deficit contributions has been recognised as a liability and has been included in the financial slalements. See further information in note 15 of these financial statements. Emmanuel has sel up a workplace pension scheme with NEST for all employees who are not eligible lo join the Church of England scheme, and all employees who qualify are automatically enrolled. Plans for future eriod8 Work at Emmanuel in 2025 We expeGI out new church council lo b8 elected and implemented by mid-2025. The council will support the senior minister as he sets future pnorilies for Emmanuel Church. Support lor Gospel Work in the UK and overseas In 2025 The church expects lo continue funding workers in churches aroLtnd the country and overseas and building relationships with those we support. The budget for grants in 2025 is £140.00012024'. £140.000). Fundraisin The Church does not employ outside or commercial fund-raisers, and does not make appeals for funds beyond ils members. The Church has not subscribed lo any fund-raisin9 regulator and has received no complaints about ils fundraising aclivilies. We do not enga9e in persislenl fundraising or intrusive fundraising practices with any of our donors, including vulnerable people. and we never have privaté or ¢oercive discussions with individuals about their giving.
EMMANUEL CHURCH WIMBLEDON For the year ended 31 December 2024 Trustees, annual report (continued) RESPONSIBILITIES OF THE TRUSTEES The trustees (who are also directors of Emmanuel Church Wimbledon for the purposes of company lawl are responsible for preparing the Trustees, Report lincorporaling the strategic report and directors, report) and Ihe financial statement5 in ac¢ordance with applicable law and United Kingdom Accounting Standard5, including Financial Reporting Standard 102.. The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). Company law requires the Iruslees to prepare financial slalements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure. of the charitable company for that period. In preparing these financial stalemenls, the trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the Chanties SORP.. make judgments and a¢¢ounting estimates thal are reasonable and prudent., stale whether applicable UK Accounting Standards have been followed, subje¢t to any material departures disclosed and explained in the financial slatemenls, and prepare the financial statements on the going concern basis unless il is inappropriate to presume that the ¢harilable company will continue in business. The Ifuslees are responsible foi maintaining proper accounting records which disclose with reasonable accuracy al any lime the financial position of the charitable company and enable them lo ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware.. there is no relèvant audit information of which thè charitable company's auditors are unaware., and the trustees have laken all steps that they ought lo have taken lo make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. Statement of disclosure to the auditors The directors confinn that.. So far as the directors are aware, there is no relevant audit information of which the company's auditors are unaware., and The directors have taken all steps they ought lo have taken as a director in orcler lo be aware of any information needed by the company's auditor in connection with preparing their reports and lo establish that the company's auditor is aware of that information. Small company provislons These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. Auditors Emmanuel Church Wimbledon will continue lo use Xeinadin Audit Limited as our auditors in 2026. On behalf of the Church Council ZJ CJL Edward Coleridge Trustee Dale 21 July 2025
EMMANUEL CHURCH WIMBLEDON For the year ended 31 December 2024 Independent auditor's report to the members of Emmanuel Church Wimbledon Opinion We have audited the financial statements of Emmanuel Church Wimbledon {the 'charity I for the year ended 31 December 2024 which comprise the Statement of Financial Aclivilies. the Balance Sheet. the Statement of Cash Flows and the notes lo the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Slandard 102 The Financial Reporting Stand8Arl applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the charitable company's affairs as al 31 December 2024 and of its incoming resources and application of resources for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in arxordance with the requirements of the Companies Act 20Cfj. Basis for opinion We conducted our audit in accordance with International Standards on Auditing {UK) (ISAS IUKI) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial slalemenls section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant lo our audit of the financial slalemenls in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidenGe we have obtained is suffiGient and appropnate lo provide a basis for our opinion, Concluslons relatlng to golng concern In auditing the financial slalemenls, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that. individually or collectively, may cast significanl doubl on the Charity's ability lo conlinLJe as a going concern for a period of al leasl 12 months Irom when the financial statèments arè authorised for issue. Our responsibilities and the responsibilities of the trustèes with respect to going concern are described in the relevant sections of this report. Other information The other information comprises the information included in the annual report, including the trustees, report, other than the financial slalemenls and our auditor's report thereon. The Iruslees are fesponsible for the other information contained within the annual report. Our opinion on the financial statements does not Cover the other information and, except lo the exlenl othefwise explicitly slated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the othèr information is materially in¢onsislenl with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsislencie5 or apparent material misstalemenls, we are required lo determine whether this gives rise to a material misstatement in the financial slalemenls themselves. If, based on the work we have performed, we conclude that there is a material misstatement of thi5 Other information, we are required to report that fact. We have nothing to report in thi5 regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the Gourse of our audit.. the information given in the trustees, report, which includes the directors. report Pfepared for the purposes of company law, for the financial year for which the financial slalements are prepared is consistent with the financial stalemenls., and the directors, report included within the trustees, report has been prepared in accordance with applicable legal requirements.
EMMANUEL CHURCH WIMBLEDON For the year ended 31 December 2024 Independent auditor's report to the members of Emmanuel Church Wimbledon (continued) Matters on which we are required to report by exception In the light of the knowledge and understanding of the charity and ils environment obtained in the course of the audit, we have not identified material misstatements in the directors, report included with the Iruslees, report. We have nothing lo report in respect of the following matters in relation lo which the Companies Act 2006 requires us to report lo you if, in our opinion.. adequate and proper accounting records have not been kept, or returns adequate for Our audit have not been received from branches not visited by us.. or the financial slatemenls are not in agreement with the accounting record5 and returns., or certain disclosures of trustees, remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit,, or the trustees were not entilled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemptions in preparing the trustees, report and from the requirement lo prepare a strategic rèport. Responsibilities of tru8tee8 As explained more fully in the Iruslees, responsibilities statement, the Iruslees, (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary lo enable the preparation of financial stalemenls that are free from material misstatement, whether due lo fraud or error. In preparing the financial statements. the Iruslees are responsible for assessing the charity's ability lo continue as a going concern, disclosing, as applicable, matters related lo going concern and using the going concern basis of accounting unless thè Iruslees either intend to liquidate the company or lo cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misslatemenl, whether due to fraud or error, and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will always delecl a material misslatemenl when il exists. Misstalemenls can arise fiom fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial slalements. The extent to which our procèdures are capable of detecting irregularities, including fraud is detailed below.. Based on our understanding of the charily, we identified that the principal risks of non-compliance with laws and fegulalions related to employment, financial reporting legislation and health and safely regulations and we considered the extent to which non- compliance mighl have a material effect on the financial slatemenls. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011. We assessed the susceptibility of the charity's financial slalemenls lo material misslatemenl, including obtaining an understanding of how fraud mighl occur, by making enquirie5 of management, considering the internal controls in place and discussion amongsl the engagement team. We determined that the principal risks were related lo managemenl bias in accounting eslimales, presentation of separately disclosed items, income and expenditure categorisalion and management override of controls. In response lo the risks identified we designed procedures which included, bul were not limited lo challenging significant accounting estimates such as depreciation of tangible fixed assets, agreeing financial statement disclosures lo underlying supporting documentation. reviewing income and expenditure codes for accurate recording, identifying and testing journal entries, reviewing trustee meeling minutes and evaluating the charity's internal controls.
EMMANUEL CHURCH WIMBLEDON For the year ended 31 December 2024 Independent auditor's report to the members of Emmanuel Church Wimbledon (continued) There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, Ihere remained a risk of non-delection of irregularities. as these may involve collusion, forgery, intentional omissions. misrepresenlalions or the overnde of internal controls. A further description of our responsibilities for the audit of the financial stalemenls is located on the Financial Reporting Council's website al.. hltp.'Ilwww.frc.org.uklaudilorsresponsibilities. This description forms part of our audilols report. Use of the audit report This report is made solely to the charitable ¢ompany's members, as a body. in accordanGe with Chapter 3 of Part 16 oflhè Companies Acl 2006 and regulations made under Ihal Act. Our audit work has been undertaken so that we might slate to the charitable company's members those matters we are required lo stale lo them in an auditors, report and for no other purpose. To the fullest exlenl permitted by law, we do not accept or assume responsibility lo anyone other than the charitable company and ils members as a body, for our audit work, for this report, or for the opinions we have fomied. Miriam Hickson FCA (Senior Statutory Auditor} for and on behalf of Xeinadin Audit Limited Statutory Auditor Chartered Accountants 5 Robin Hood Lane Sullon Surrey SM1 2SW Dated. 21 July 2025 10
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EMMANUEL CHURCH, WIMBLEDON Balance Sheet at 31 December 2024 2024 2023 Note FIXED ASSETS Property, plant and equipment Investments Investment Propety 6,542,842 176,251 420,000 6.662.300 171,773 420,000 10 7,139,093 7,254,073 CURRENT ASSETS Debtors Cash al bank 21,020 172,539 46.773 267.471 193,559 314.244 Cfedilors.. amounts falling due within one year 12 {22.161) 131,533) NET CURRENT ASSETS 171.398 282,711 TOTAL ASSETS LESS CURRENT LIABILITIES 7.310,491 7,536,784 NET ASSETS 7,310,491 7.536,784 FUNDS General unreslricted fund Propety fund (unreslricled. including revaluation reserve of £265,000 12023. £265,000) Rèstricted fund Endowment fund (including revaluation reserve of £61,307 (2023.. £56,829) 13 114,126 145,957 6,954,900 7,072,570 89,543 13 13 241,465 228,714 TOTAL FUNDS 14 7,310,491 7,536,784 These financial statements have been prepared in accordanc6 Wlth the special provisions of Part 15 of the Companies Act 2006 relating lo small companies. Signed on behalf of the trustees on 21 July 2025 Edward Coleridge Trustee The notes on pages 14 to 25 form part of these financial statements. 12
EMMANUEL CHURCH WIMBLEDON Statement of Cashflows for the Year Ended 31 December 2024 2024 2023 Cash flows from operating activities Nel (expenditure) 1226.2931 (179,570) Adjustmenls for.. Investment in¢ome {90,880} 119,458 14,478} 25,753 9.372 178,8441 119,566 4,133 {40,8221 12,115 Depreciation (Gainlnoss on investments Decreasel{increase) in debtors {Decrease)lincrease in creditors Net cash (used in) operating activities {185,812} 1163,4221 Cash flows from Investing activities Investment income received 78,844 Net cash generated from investing activities 90,880 78,844 Net (deereaso) in cash (94,932) {84,578} Ca8h and cash equivalents at the start of the year Cash and cash equivalents at the end of the year 267,471 352.049 172 539 267.471 13
EMMANUEL CHURCH, WIMBLEDON Notes to the financial statements for the year ended 31 December 2024 1, Accounting Policles Emmanuel Church Wimbledon is a company limited by guarantee incorporated in England and Wales. The registered office is Emmanuel Church, 24 Ridgway, London SW19 4QL. 1.1 Basis of preparation of financial ststements The financial statements have been prepared under the Companies Act 2006, the Charities Act 2011 and in accordance with the Charities Slalement of Recommended Practice (Chanlies SORP {FRS 1021) and Financial Reporting Standard 102 {FRS 102}. The financial slatements are prepared in sterling, rounded lo the nearest pound. The charity is a Public Benefit Entity as defined by FRS 102. The financial statements have been prepared on the historical cost convention, modified lo include the revaluation of investment properties and lo include certain financial instruments al fair value. Thè principal accounting policies adopted are set out below. 1.2 Golng concern The charity has shown a similar levels of income in 2024 compared lo 2023. Our Budget for 2025 shows that we plan to hold at a similar level of cash reseNes for the year, which will be over the minimum levels the Trustees like to hold.. The charity does also still relain significant assets that could be liquidated (houses, other funds etc) in the event Ihat cash reserves fell further. However that is extremely unlikely to be requirecl. Accordingly, the financial statements have been prepared on a going concern basis and do not include any adjustmènts that would be required should the charity no longer be a going concern. 1.3 Income Donations and other income are recognised when received and an estimate of income lax recoverable is recognised when the related donations are recognised. Gifts in kind arè a¢¢ounted for when received or when their fair value can be reasonably ascertained whichever is the earlier. Income from investments is recognised when Emmanuel Church Wmbledon are entitled lo the income. 1.4 Expenditure All expenditure is accounted for on an accruals basis when the expenditure is incurred. Grants payable are accounted for when the grant is paid or when awarded if that creates a binding obligation on the Church. Support costs are minimal due to support roles being performed by volunteers. They consist of the governance costs of the charity. 1.5 Tangible fixed assets Property. plant and equipment is held at cost less accumulated depreciation. Property was transferred lo the entity on 1 January 2013. These assets have transferred across at a combination of fair value and insurance value5. The values applied are deemed lo be the cost of Ihese assets going forward and will be held at cost less accumulated depreciation. Depreciation and amortisalion is calculated as follows.. Land., Freehold buildings.. Leasehold buildings. Property Plant and Equipment.. 30 years slraighl line 125 years straight line 4 or 10 years straight line 1.6 Valuation of investments and investment properties Investments are held al Maet value at the year end. Realised gains and losses are recognised when assets are sold. Unrealised gains or losses on investments are accounted for on revaluation of investments al each year end. Investment properties are held al fair value. 14
EMMANUEL CHURCH WIMBLEDON Notes to the financial statements for the year ended 31 December 2024 1. Accounting Policies (continued) 1.1 Debtors Legacies, lax recoverable on donations and other debtors are included al the settlement amount due. Prepayments are valued 81 the amount prepaid. 1.2 Cash and cash equivalents Cash at bank and in hand includes cash and short term highly liquid investments with a short malurily of three months or less from the dale of opening of the deposit. 1.3 CdItorS and provislon8 Creditors and provisions are recognised where the charity has a present obligation arising from a past event that will probably result in the transfer of funds lo a third party and the 8mounl due lo settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised al their settlement amount. 1.4 Financial instruments The charity only has financial assets and liabilities of a kind that qualify as basic financial inslrumenls. Basic financial instruments aTe initially recognised at Iransaclion value and subsequently measured at their selllemenl value. 1.$ Pension scheme The Church participates in Church of England Funded Pensions Scheme and the NEST scheme, as detailed in note 15. 1.6 Funds Unrestricted funds are general funds that are available for use in furtherance of the objectives of the charity. Designated funds are unreslricled funds sel aside for specific purposes. Restricted funds are those donated for use in a particular area or for specific purposes. The endowment fund is an investment only to be used for a critical financial need of Emmanuel Church, as explained in note 13. 1.7 Foreign exchange Foreign currencies have been converted into £ sterling at rates of exchange approximating lo those ruling al Ihe Balance Sheet date. 1,8 Critical accounting judgements and key source8 of e8tlmatlon uncertainty In the application of the Charity's accounling policies, the Trustees are required to make judgements. estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent ffom other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. There were no specific judgements. eslimales and assumptions that were Critical lo the preparation of these financial statemenls. 15
EMMANUEL CHURCH WIMBLEDON Notes to the financial statements for the year ended 31 December 2024 2. Income 2024 2023 Unrestricted funds Restricted Endowment fund funds Total Total Donations, legacies and similar income Standing orders Irregular Gift Aid donations Tax recoverable Other tax efficient donations Service collections via Gocardless terminal Legacies Other donations 298,479 10,740 82.872 9,963 4,299 302.778 10.740 83,172 9,963 286,914 125,500 100,323 59,351 1,000 300 1,000 14,185 1,000 14,185 20,961 417.239 4.599 421,838 594,049 Investment income Dividend income Rental income Bank interest 10.773 10,773 78.551 1,556 10,235 67,364 1.245 78,551 1,556 80.107 10.773 90,880 78,844 Miscellaneous income 55,369 55.369 25.338 TOTAL INCOME 552,715 4,599 10,773 568,087 698,231 Tax efficient donations are donation5 made by or through organisalions such as the Charities Aid Foundation and private charitable trusts, which are responsible for recovering income lax paid by the donor. Accordingly, no further lax is recoverable by the Church. 16
EMMANUEL CHURCH WIMBLEDON Notes to the financial statements for the year ended 31 December 2024 3. Expenditure on charitable activities Note 2024 2023 GENERAL & RESTRICTED FUNDS Work at Emmanuel Staff salaries, payroll taxes etc Staff housing Staff expenses Ordinands and trainees Church mainlenance Staff house maintenance Church ulililies and church overheads Youth work and church groups Printing Slalionery and postage Evangelism expenditure Houseparties, seminars and conferences Diocese pledge Other expenditure Professional fees Audit fees Other fees to auditor Depreciation 253,195 41,122 14,083 5,361 26,917 14,579 108,738 10,524 5,632 219 9,852 1,704 17.912 10,555 5,756 6,750 4,534 1,788 260,077 38.958 6,063 4,355 30,959 29,967 79,267 14,468 5,866 216 7.411 6.231 17,340 14,906 10,665 7,680 6,480 1,896 Total operating expense of running Emmanuel 539,221 542,805 Support of gospel work in UK 41,833 62,661 Support of gospel work overseas 100,134 150,532 TOTAL GENERAL & RESTRICTED FUNDS EXPENDTURE 681,188 755,998 PROPERTY FUND Depreciation 117.670 117,670 TOTAL PROPERTY FUND EXPENDTURE 117,670 117,670 TOTAL EXPENDTURE 798,858 873,668 The lolal operating expenditure was £798,85812023.' £873,668) of which £614.23612023'. £747,543) was general.. £117,670 (2023.. £117,670) was from the propety fund., £nil {2023.' £nil} was designated and £66,952 {2023.. £8,455) Was restricted. All the support costs for the Work at Emmanuel relate lo finance, administration and property maintenance. 17
EMMANUEL CHURCH WIMBLEDON Notes to the financial statements for the year ended 31 December 2024 4. Support of Gospel Work In the UK Grants from the General Unreslricled Fund were as follows.. 2024 2023 UK Grants: Regular Support St Catherine's, Tranmere Christchurch, Lowesloft Spinnaker Trust Wellfield Trust Holy Cross. Gleadless Valley St Nicholas. Tooting Christian Prison Resources Oplions, Wimbledon St Andrew's, Kendray St George's, Wembdon South Asia Forum Merton Street Pastors 5,000 6,583 333 6,000 4,000 7,500 6,417 3,000 6.000 1.336 2.750 5,000 6,000 4,000 1,533 3,000 2,250 4,000 6,000 3,167 2,000 UK Grants: One off payments Friends International BeconlTee Church Sl GeoTge's, Dagenham Sl Andrews, Slh Wirnbledon Sl Andrews, Ashton Holy Trinity Chur¢h London SASRA Other 3,000 625 3,750 1.250 4,000 3,000 soo 2,083 417 41,833 62,661
EMMANUEL CHURCH WIMBLEDON Notes to the financial statements for the year ended 31 December 2024 5. Support of Gospel Work Overseas Expenditure from the General Unrestricted Fund was as follows.. 2024 2023 International grants Institutions Elhiopian Orthodox Church iserve Africa 5.134 1.700 5.800 2,000 1,250 2,350 12,000 OMF South Asia ¢on¢em Zion 12,400 19,234 23.400 Individuals Baldwin A&D Ballinger J Ben Williamson Brown Chris & Lizzy Clarke J&R East R Kenny J LeachB&R Lines A&M Porter S Townsend Other 6,000 7,000 15,000 6,000 13,000 13,000 12,000 3.000 25,374 11.458 13,000 8,000 300 11,700 11,700 9,000 2,000 22,400 7,000 11.100 80.900 127,132 Total international grants 100.134 150,532 Grants for the benefit of the organisations listed above include direct payments to ordinands, trainees and missionaries associated with the relevant organisalions.
EMMANUEL CHURCH WIMBLEDON Notes to the financial statements for the year ended 31 December 2024 Staff Costs 2024 2023 Salaries Social security costs Pension costs 208,625 13,786 30,804 198,439 12,022 49,616 253,195 260,077 The average numbèr of employees during the year was 9 {2023: 10}. The salaries paid were the nomial salaries for the posts. There wer@ no emoluments of more than £60,000 paid to any individual employee in either year. During the year, members of the Church Council were reimbursed for expenditure incurred on behalf of Ernmanuel Church. There was no reimbursement of personal expenses nor any other benefits made available to members of the Church Council. Other than the employed staff, no member of the Church Council received any remuneration from Emmanuel Church. During the year no Iruslees received any remuneration or were reimbursed for expenses incurred (2023.. £nil). Emmanuel Church Wimbledon is mana9ed by the trustees, with no senior management team employed. Therefore the remuneration of key management personnel is £nil12023'. £nil) Analysis of Expenditure Actlvlty Grant undertaken funding of Governance directly activity costs 2024 Total 2023 Totsl Work at Emmanuel Support for gospel work in the UK Support for gospel work overseas 650.141 6,750 656,891 41,833 100,134 660,475 62,661 150,532 41,833 100,134 650,141 141,967 6,750 798,858 873,688 All staff costs are included as "Activity undertaken dirèctly for the work al Emmanuel. Work at Emmanuèl includes £119,458 (2023.. £119,566) of depreciation of the property, plant and equipment. 20
EMMANUEL CHURCH WIMBLEDON Notes to the financial statements for the year ended 31 December 2024 8. Property, plant and equipment Freehold property Leasehold property PPE Totsl Cost At 1 January 2024 Additions Disposals 7,692,669 285,000 55,351 8,033,020 At 31 December 2024 7,692.669 285.000 55,351 8,033,020 Accumulated depreciation At 1 January 2024 Charge for the year Released on disposals 1.297,739 115,390 27,360 2,280 45,621 1,788 1,370,720 119.458 At 31 December 2024 1,413,129 29,640 47,409 1,490,178 Net book value at 31 Doc 2024 6,279,540 255,360 7,942 6,542,842 Net book value at 31 Dec 2023 6,394,930 257,640 9,730 6,662,300 9. Investments These comprise units in the M&G Charifund shown al fair value at year end. 2024 2023 Fair value brought forward Unrealised gain l {lossl 171,773 4.478 175,906 (4,1331 Fair value carried fomard 176,251 171,773 Historical cost 114,944 114,944 10. Investment Property 2024 2023 Fair value At 1 January 2024 420,000 420,000 Revaluation gainlllossl recognised in slalement of financial activities Al 31 December 2024 420,000 420.000 Historical cost 155,000 155.000 The investment propety is a shop on Ridgway, Wmbledon. The property was fomally valued in August 2017 by TSP, on an open market value for existing use basis, The trustees confirm that the value has not subsequently materially changed as al 31 December 2024. 21
EMMANUEL CHURCH WIMBLEDON Notes to the financial statements for the year ended 31 December 2024 11. Debtors 2024 2023 Prepayments and accrued income 21,020 46.773 12. Creditors: amounts falllng due within one year 2024 2023 Accruals and olher creditors 22,161 31,533 13. Funds Balancè at 1 January 2024 Income Expenditure Gains Tran8fer8 Balancè at 31 December 2024 2024 Endowment Hennell AW Churchill 205,917 22.797 9,844 929 4,092 386 {2,5001 217,353 24,112 228,714 10,773 4,478 12,500) 241,465 Restricted Grace Church New Malden church plant 89,543 4.599 ( 66,9521 {27.190) Unrestricted Property General funds 7,072,570 145,957 {117.6701 {614,2361 6,954,900 114.126 552,715 29.690 7,218,527 552,715 {731.9061 29.690 7,069,026 Total funds 7.536,784 568.087 1798,8581 4,478 7,310,491 22
EMMANUEL CHURCH WIMBLEDON Notes to the financial statements for the year ended 31 December 2024 13. Funds (continued Balanco at 1 January 2023 Income Expenditure (Losses) Transfers Balance at 31 December 2023 2023 Endowment Hennell AW Churchill 202,841 22,271 9.353 882 13,7771 1 3561 {2,500) 205,917 22.797 225,112 10,235 14.133) (2,500) 228,714 Restricted Grace Church New Malden chLtrch plant 84,998 13,000 { 8,455) 89,543 Unrestricted Property Gerieral funds 7,190,240 216,004 (117,670) 1747,543) 7,072,570 145,957 674,996 2,500 7,406,244 674,996 1865,213) 2,500 7,218,527 Total fund8 7.716,354 698,231 {873,868) 14,1331 7,536.784 Restricted funds Grace Church New Malden church plant - funds to share the Gospel with the people living in the New Malden area by planning a new church. During the year, Grace Church sel up their own charity. Donors were asked whether they wanted their donations given to the new charity and these balances were paid acr05s. The transfer of £27,190 to General Funds are funds where the donor agreed that this charity could relain those funds. Endowment funds The Hennell Endowmenl Fund has been set up from historical donations. 500/0 of the income arising, now capped al £2,500 can be used for general purposes agreed between the Incumbenl and the Churchwardens. This is the transfer shown in the year. The remainder of the income is reinvested with the capital only to be used for a critical financial need of Emmanuel Church. The A W Churchill Fund has been set up lo provide capital for Emmanuel Church to use in a critical financial situalion. 14. Analysis of Net Assets by Fund General Unrestricted Fund Property Fund Restricted Fund Endowment Fund 2024 TOTAL 2024 Fixed assets and investments Cash 7,942 107,325 21,020 (22,161) 6.954.900 176,251 65,214 7,139.093 172.539 21.020 {22.1611 Current debtors Current liabilities Net assets 114,126 6,954,900 241,465 7.310.491 23
EMMANUEL CHURCH WIMBLEDON Notes to the financial statements for the year ended 31 December 2024 General Unrestricted Fund Property Fund Restricted Fund Endowment Fund 2023 TOTAL 2023 Fixed assets and investments Cash Current debtors Current liabilities 9.730 120,987 46.773 131,533) 7.072,570 171,773 56,941 7,254,073 267.471 46.773 131,5331 89,543 Net assets 145.957 7,072,570 89,543 228,714 7.536.784 The propety fund is a specific fixed asset fund for the a¢quisilion and upkeep of properties, fabric and equipment. 15. Pension schemes Emmanuel Church Wimbledon participates in the Church of England Funded Pension Scheme for stipendiary clergy, a defined benefit pension scheme. This scheme is administered by the Church of England Pensions Board. which holds the assets of the scheme separately from those of the Employer and the other participating employers. Each participating employer in the scheme pays contributions al a common contribution rale applied to pensionable stipends. The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. It is not possible to attribute the Scheme's assets and liabilities to each specific Responsible Body, and this means contributions are accounted for as if the Scheme were a defined contribulion scheme. The pensions costs charged lo the SOFA in the year are contributions payable towards benefits and expenses accrued in that year, which werè £15,160 in 202312023.. £34.7961. A valuation of the Scheme is carried out once every three years. The most recent Scheme valuation completed was carried out at as 31 December 2021. The 2021 valuation revealed a surplus of £560m, based on assets of £2.720m and a funding target of £2,160m, assessed using the following assumptions.. An avera9e discount rate of 2.70/0 pa.. RPI inflation of 3.80/0 pa land pension increases consistent with this); CPIH inflation in line with RPI less 0.80/0 pa pre 2030 moving to RPI with no adjustment from 2030 onwards., Increases in pensionable stipends in line with CPIH., Mortality in accordance with 900/0 of the S3NA tables, with allowance for improvements in mortality rates from 2013 in line with Ihe CM12020 extended model with a long lemi annual rate of improvement of 1.5/0, a smoothing parameter of 7. an initial addition lo mortality improvements of 0.5 % pa and an allowance for 2020 data of O % {i.e. w2020 ~ 00/0). Following finalisation of the 31 December 2021 valuation, deficit contributions ceased with effect from 1 January 2023, since the Scheme was fully funded. The deficit recovery contributions under the recovery plan in force at each 31 December were as follows.. /0 of pensionable stipends 7.10/0 payable from January 2021 to December 2022 31 December 2021 31 December 2022 31 December 2023 31 Dember 2024 Nil The legal structure of the scheme is such Ihal if another Responsible Body fails, Emmanuel Church Wimbledon could become responsible for payin9 a share of that failed Responsible Body's pension liabililies. NEST The charity also participates in a defined contribution scheme run by NEST. The pension costs charged to the SOFA in the year in respect of this scheme are £15,64412023.' £14,820}. 24
EMMANUEL CHURCH WIMBLEDON Notes to the financial statements for the year ended 31 December 2024 16. Future Grant Commitments Thé Church has made a commitment to pay grants in future on a rolling 3 year basis. The value ofthis commitment at the year- end is c£420,000 over the next 3 years. No provision for future grants payable has been made in these accounts as the funding is dependent on the level of income received by and the budget of the Church for future years as well as an annual review of the progress against aims of the grant during the previous year. Where finances of the Church do not allow it or the annual review is unsatisfaGtory, grant funding may be withdrawn. 17. Related Party Transactions Donations from trustees received during the year amounted lo £21,08012023'. £35,266). The daughter in law of Simon Blows received remuneration of £20,849 (2023.. £22,367}, employer Nl contributions of £1,622 (2023.. £1,831) and employer pension contributions of £2,31012023. £2,237). In 2023 E Coleridge, a trustee, paid £12,000 for the rental of a charity property. There were no other related party transactions. 18. Controlling parties The company is controlled by ils trustees, Claire Stansfield, Edward Coleridge, lan Buchan, Tina McGhee and Joanna Grainger whose liability on winding up the Company is limited lo £1. 19. Post balance sheet events There have been no significant events subsequent lo the balance sheet date that are outside the charity's nomial aclivilies. 25