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← Neighbourhood Church

2024-12-31-accounts

Neighbourhood Church

Report and Accounts Year ended 31 December 2024

1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk

NEIGHBOURHOOD CHURCH

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2024

Trustees Brian Roy Nunes
Leslie Matthews
James Webb
Ben Edge
Key Staff Simon Lang
Daniel Leeves
Governing Document Memorandum and Articles of Association dated 14
March 2012
Company Registration Number 07990543
Charity Registration Number 1146886
Registered Office The Hall
Cromwell Road
Beckenham
Kent
BR3 4LW
Independent Examiner Sarah Crispin ACA
Stewardship
1 Lamb's Passage
London
EC1Y 8AB
Bankers Lloyds TSB
Contents Page
Company Information 1
Trustees' Annual Report 2-5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Accounts 9-15
Detailed Statement of Financial Activities with Comparatives 16

Page 1

NEIGHBOURHOOD CHURCH

TRUSTEES' ANNUAL REPORT (INCORPORATING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 DECEMBER 2024

The trustees, who are also directors for the purposes of company law, are pleased to present their report together with the financial statements for the year ended 31 December 2024.

Status and Governing Document

Neighbourhood Church, a charitable company limited by guarantee, was constituted by Memorandum & Articles of Association on 14 March 2012.

Trustees and Directors

The trustees, who are also directors of the company, throughout the period and at the date of approval were as indicated on the charity information page.

The powers of appointment or removal of trustees/directors rests with the trustees/directors.

Objects

The primary objects of Neighbourhood Church, for public benefit, are to advance the Christian faith, in accordance with our Statement of Faith, in the London Borough of Bromley and in such other parts of the United Kingdom and the world as the trustees may from time to time think fit. The church will also fulfil such other purposes which are exclusively charitable, according to the law of England and Wales, and are connected to the charitable work of the charity, as the trustees may from time to time think fit.

The Church: Its Aims and Objectives

Neighbourhood Church is a small and growing local church based in Beckenham, South East London, rooted in orthodox Christian faith. We subscribe to the ancient Apostles' Creed and to the Evangelical Alliance's Statement of Faith.

With a desire to be welcoming, informal and 'real', we provide a place for people to meet at whatever stage of their faith journey. Comprising a mix of all ages, Neighbourhood Church meets every Sunday as a large gathering and also in small groups throughout the week. Encouraging people to grow in their Christian faith, we provide a variety of learning opportunities. With a heart for the local community, Neighbourhood Church seeks ways to serve people and meet needs.

Our vision is to be a church made up of a growing number of people who are seeking, sharing and living out their Christian faith in a way that brings blessing to people and communities around them. Our members live out their faith where they live, where they work and with the people they encounter, having a positive impact on wider society.

Neighbourhood Church is organised and directed by the leadership team and the trustees. The trustees administer the church in accordance with its Memorandum & Articles of Association dated 14 March 2012 and with regard to meeting the needs for which it was set up. They are also responsible for helping Neighbourhood Church to comply with applicable law and regulations. The trustees have overall financial responsibility for the church.

The leadership team take on responsibility for the day-to-day outworking of the church's vision and mission. They are responsible for the spiritual oversight of the church, its activities and teaching. The leadership team is made up of the pastor and assistant pastor, along with volunteers who are committed members of Neighbourhood Church and who share in, and own, the beliefs, vision, values and ethos of the church.

The Year in Review

2024 has been another year of Neighbourhood Church growing and flourishing. There is a vitality and vibrancy to our church life as new people across the age ranges are welcomed on a regular basis; there's a depth of activities that reflect the life of the church, and the building is used by a wide range of community groups.

Page 2

NEIGHBOURHOOD CHURCH

TRUSTEES' ANNUAL REPORT (INCORPORATING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 DECEMBER 2024

Teaching

Teaching in line with the church's beliefs and statement of faith continued to occur on Sundays and in mid-week groups. Teaching is varied, age-appropriate, and covers a range of Biblical themes, and is delivered by the teaching team of Neighbourhood Church. There are four mid-week small groups, three in person and one which meets online. There is also a well-attended, growing youth group.

Community Activities

The church engages with the community in a variety of ways:

Songbirds, a music group for young children and their carers, offers two sessions on a Monday morning. The group aims to meet a need in the community for low-cost activities for young children and a place for carers to meet. There's a new group aimed at seniors (Tuesdays at Neighbourhood) which offers a weekly place for older folk to meet, chat, play games, do puzzles and get to know others.

The church rents the building to outside organisations for activities which further benefit the community. Those activities currently include the NCT Breastfeeding Café, a Bumps & Babies playgroup, a children's choir, an adult choir, a chairbased exercise class for older folk, a sewing class and a ukelele group. In addition, the building gets used as a polling station, and the local MP uses the building for his constituency surgeries. The church also rents the building to local families for children’s birthday parties, and allows local residents to use it for their street parties.

We also hosted a fun music quiz night for approximately 90 local people, and raised close to £1,800 for a teen mental health project.

The church is a collection centre for a local food bank which seeks to provide individuals and families in need with food and toiletries. This past December we had our biggest ever Christmas foodbank collection.

Neighbourhood Sessions, a community focused evening of live music, meets approximately four times per year, and offers high-quality music at low cost.

Outreach

The church offers Alpha, giving adults an opportunity to explore and develop their Christian faith.

In October we held a ‘Light it Up’ event to coincide with Halloween – offering games, activities, snacks and treats from the church garden. Lots of local adults and children stopped by and commented how great it was that we were making people feel so welcome.

And our Christmas events are always well-received by the local community - Carols around the Tree, Christmas Eve Carols, and a Pop-Up Nativity aimed at younger children.

Church Giving

The church gives more than 10% of its income away to people in need within the community and outside it, as deemed appropriate by the trustees and the leadership team. Local organisations supported include a local debt advice centre and a foodbank and advocacy service. And further afield, the church supports IcFem in Kenya and Karis Kids in Uganda.

Church Activities

The church youth group offers a fun and varied programme for 11-18 year olds. Their recent teaching has included sessions on creativity in worship, and they are currently doing the Youth Alpha course. They had a trip to a national summer youth festival, and are going again in 2025.

The church 'Eco Team' has continued to raise awareness and challenge thinking about climate and ecological issues. They have begun developing our outside space to encourage and enable wildlife. In 2024 they had an Eco-Audit conducted by an outside organisation, which has led them to now apply for funding for improvements such as doubleglazing, insulation and an air-source heat pump. We have also been awarded the Arocha Eco Church Bronze Award.

In August the church redecorated the inside of the building – and so many users have commented on what a warm, welcoming and attractive space it is.

The church leadership team and trustees are encouraged by the all-round buzz that exists within the life of the church, and are keen for this to continue.

Page 3

NEIGHBOURHOOD CHURCH

TRUSTEES' ANNUAL REPORT

(INCORPORATING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 DECEMBER 2024

Financial Review

The trustees were pleased with the financial results for the year; as a result of the church's generous giving from regular attendees, donations were higher than budgeted, and rental income, the church's second main source of income after giving, was in-line with the budgeted amount for the year. Total incoming resources for the year were £165,062 (2023 - £128,951), total resources expended for the year were £138,398 (2023 - £137,585) and total free reserves (total reserves less restricted reserves and fixed assets) were £68,298 (2023 - £43,936). Further details of the financial results can be seen in the Statement of Financial Activities (SOFA) on page 7.

The church is forecasting a deficit budget for 2025. However, the trustees were conservative in the budgeting of donations, and it is now anticipated these may exceed the budget for the 2025 financial year; actual donations for the first four months of 2025 are already above the budgeted average for the year. The trustees will continue to monitor the financial situation closely and are prepared to cut costs should this become necessary. The trustees are therefore satisfied that Neighbourhood Church is viable financially for the foreseeable future. Additionally, the church has reasonable reserves that can be relied upon in the short term for any unforeseeable events.

Risk Management

The church is exposed to various risks - be they operational, financial or reputational. The trustees review the church's activities regularly to identify significant risks and, where possible, they take appropriate measures to mitigate those risks. All major insurable risks are mitigated with normal church's and employer's liability insurance.

Public Benefit

In planning the activities of the church, the trustees have applied the guidance on public benefit issued by the Charity Commission. To ensure the church remains compliant, the objectives and aims of the church are reviewed annually in light of the Commission's two key principles of public benefit:

  1. there must be an identifiable benefit or benefits, and

  2. that benefit must be for the public, or a section of the public.

The trustees believe the church has fulfilled their public benefit by:

Reserves Policy

The trustees of Neighbourhood Church along with the leadership team have formed a reserves policy which they believe reflects wise stewardship of the generosity of the congregation and of the church's other income, and is in accordance with the charity law requirement that income received by a charity must be spent within a reasonable timeframe and that trustees should be able to justify holding income as reserves.

There are three components to the church's reserves: one being money set aside to cover ongoing church costs in the event of an unexpected loss of income or an unexpected increase in regular running costs, the second component is money set aside for a specific future project and the third is a more general amount set aside to safeguard the church against unforeseen events.

The church receives no guaranteed income. However, we have been blessed by very faithful and generous givers; at the end of 2024 we had 34 regular contributing individuals/family units (2023 - 32). However, out of that six individuals/family units contribute over 50% of our average monthly giving. Therefore, as our giving is not spread as widely as it may be in other churches and we are more reliant on specific monthly donations, the trustees and leadership team have agreed that it's reasonable to strive to keep in our general reserves three months of our average monthly expenses, approximately £34,000. We also anticipate that at sometime in the future the roof of the building will need to be repaired- with this in mind we plan to set aside £2,000-£3,000 per year as funds will allow, to help with the cost of this repair when it is needed. And finally, it was agreed that the reserves should also include a lump sum to cover any unforeseen events; this amount was agreed at £5,000. Therefore, the trustees and the leadership team have agreed that the total free reserves at the year end 31 December 2024 of £68,298 (2023 - £43,936) are reasonable.

Page 4

NEIGHBOURHOOD CHURCH

TRUSTEES' ANNUAL REPORT (INCORPORATING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 DECEMBER 2024

Responsibilities of Trustees Under Company Law

The trustees are responsible for preparing the trustees' annual 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 the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the information included on the church website.

Small Company Provisions

This report has been prepared in accordance with the special provisions for small companies under part 15 of the Companies Act 2006.

Signed on behalf of the trustees:

Roy Nunes

Roy Nunes (chair) Trustee Date: 8 July 2025 Charity number: 1146886 Company number: 7990543

Page 5

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF

NEIGHBOURHOOD CHURCH

('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024 on pages 7 to 16 following, which have been prepared on the basis of the accounting policies set out on pages 9 to 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

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.

Sarah Crispin

Sarah Crispin ACA Stewardship 1 Lamb's Passage London EC1Y 8AB

Date: 15 July 2025

Page 6

NEIGHBOURHOOD CHURCH

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2024

Note
INCOME AND ENDOWMENTS FROM:
Donations
3
Charitable activities
4
Other trading activities
5
Investments
6
Total income and endowments
EXPENDITURE ON:
Charitable activities
7
Total expenditure
Net income/(expenditure)
Transfers between funds
14
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
14		 Unrestricted
Funds
£
130,827
9,136
18,064
575
158,602
132,460
132,460
26,142
400
26,542
326,122
352,664		 Restricted
Funds
£
6,460
-
-
-
6,460
5,938
5,938
522
(400)
122
2,412
2,534		 Total
Funds
2024
£
137,287
9,136
18,064
575
165,062
138,398
138,398
26,664
-
26,664
328,534
355,198		 Total
Funds
2023
£
99,099
13,129
16,339
384
128,951
137,585
137,585
(8,634)
-
(8,634)
337,168
328,534

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 page 9 - 15 form part of these accounts.

Page 7

NEIGHBOURHOOD CHURCH

BALANCE SHEET

AS AT 31 DECEMBER 2024

Note
FIXED ASSETS
Tangible assets
9
CURRENT ASSETS
Debtors
10
Cash at bank and in hand
11
CREDITORS: Amounts falling
due within one year
12
Net current assets / (liabilities)
Total assets less current liabilities
TOTAL NET ASSETS
FUND BALANCES
14
Unrestricted Funds
General funds
Designated funds
Restricted Funds		 Unrestricted
Funds
£
284,366
284,366
13,817
57,937
71,754
(3,456)
68,298
352,664
352,664
45,298
307,366
352,664
-
352,664		 Restricted
Funds
£
-
-
498
2,036
2,534
-
2,534
2,534
2,534
-
-
-
2,534
2,534		 Total
Funds
2024
£
284,366
284,366
14,315
59,973
74,288
(3,456)
70,832
355,198
355,198
45,298
307,366
352,664
2,534
355,198		 Total
Funds
2023
£
282,185
282,185
10,539
40,591
51,131
(4,782)
46,349
328,534
328,534
22,937
303,185
326,122
2,412
328,534

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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:

Roy Nunes

--------------------------------------Roy Nunes Date: 8 July 2025

Company number: 07990543 Charity number: 1146886

The notes on page 9 - 15 form part of these accounts.

Page 8

NEIGHBOURHOOD CHURCH

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

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 includes:

Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity's charitable objects. It includes income from church retreats and other events and courses.

Income from other trading activities represents income receivable from activities undertaken to generate funds for the charity. It includes income from letting the charity's property.

Investment income represents income generated by the charity's assets and includes income from bank interest.

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.

The charity's overheads, being costs that have not been incurred directly on a charitable activity, have been disclosed separately in the notes under the heading 'Costs incurred on support and administration'. These costs have been allocated to the charity's various activities using an appropriate basis such as the relative use of space and / or personnel.

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.

d) Fund accounting

Page 9

NEIGHBOURHOOD CHURCH

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2 Accounting Policies (cont.)

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:

Freehold land Is not depreciated (because it is not consumed by use) Freehold buildings Is not depreciated 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) Pension scheme arrangements

The charity operates defined contribution pension schemes for its employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes 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. Except for loans, creditors and debtors are measured at their expected settlement value (normally the amount of cash that the charity expects to pay or receive).

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

The trustees do not consider that there are any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period.

3 Donations

Donations of cash and similar
Income tax recoverable
4
Income from charitable activities
Songbirds (children's music group)
Community events
Weekend away
Youth trips
5
Income from other trading activities
Hall rental income
6
Investment income
Bank interest		 2024
£
115,615
21,672
137,287
2024
£
2,232
5,195
-
1,708
9,136
2024
£
18,064
18,064
2024
£
575
575		 2023
£
82,240
16,858
99,099
2023
£
2,194
4,682
4,905
1,348
13,129
2023
£
16,339
16,339
2023
£
384
384

Page 10

NEIGHBOURHOOD CHURCH

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

7 Analysis of expenditure

a Charitable activities

An analysis of the charitable activities and their expenditure is as follows:

Teaching and pastoral work
Outreach_(including Alpha & other courses)
Children's work
Community activities and church gatherings
Church giving(to institutions and individuals see Note 7c)_		 Activities
undertaken
directly
£
54,965
8,595
14,041
39,224
14,142
130,967		 Support
costs
(note 6b)
£
3,715
-
743
2,972
-
7,431		 Total
2024
£
58,680
8,595
14,784
42,196
14,142
138,398		 Total
2023
£
55,315
8,402
14,413
46,705
12,749
137,585

Included in the above costs relating to activities undertaken directly is depreciation charge of £1,621 (2023 : £1,018).

b Support costs

The allocation of support costs has been based on the estimated time the church spends on any given activity. The overall allocation is as follows:

Governance costs
Stationery and supplies
Insurance and memberships
Payroll administration fee		 Teaching
£
1,137
377
1,913
289
3,715		 Children
£
227
75
383
58
743		 Community
activities
£
909
301
1,530
231
2,972		 Total
2024
£
2,273
754
3,826
577
7,431		 Total
2023
£
1,845
1,068
3,732
576
7,221

Included in the total governance costs is the fee payable to the independent examiner for preparing and examining the accounts, £2,100 (2023: £1,770); in addition the charity paid £577 (2023: £576) to Stewardship for payroll bureau services.

c Grants payable

Grants for UK and overseas mission
Grants for the relief of poverty
Grants for support of social care
The comparatives for the previous year are as follows:
Grants for UK and overseas mission
Grants for the relief of poverty
Grants for support of social care
The charity's principal grants to institutions comprised:
InterChristian Fellowships' Evangelical Mission (IcFEM)
Christians Against Poverty (CAP)
Christian Aid
Living Well Bromley
Loving Leo
Grants to institutions for less than £1,000 each		 Institutions
£
4,460
5,170
1,783
11,413
Institutions
£
3,000
7,000
471
10,471		 Individuals
£
-
2,730
-
2,730
Individuals
£
-
2,278
-
2,278
2024
£
3,000
2,240
-
2,000
1,783
2,390
11,413		 2024
£
4,460
7,900
1,783
14,142
2023
£
3,000
9,278
471
12,749
2023
£
3,000
2,240
2,000
1,830
-
1,401
10,471

Page 11

NEIGHBOURHOOD CHURCH

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

lysis of staff costs, the cost of key management personnel and trustee remuneration
Gross wages and salaries
Social security
Pension costs		 2024
£
77,557
3,189
4,952
85,698		 2023
£
75,935
2,976
4,950
83,861

The average monthly number of employees during the year was 2 (2023: 2). Our staff are responsible for all our activities, and their work is supported by volunteers.

No staff received salaries at a rate of more than £60,000 per annum.

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

During the year key management received employment benefits totalling £85,698 (2023: £83,861).

No trustees received employment benefits in either the current or preceding year.

9 Tangible fixed assets

Tangible fixed assets
Cost (or valuation)
At 1 January 2024
Additions
At 31 December 2024
Accumulated depreciation
At 1 January 2024
Charge for the year
At 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023		 Freehold
Building
£
280,000
-
280,000
-
-
-
280,000
280,000		 Equipment
£
3,560
3,802
7,362
1,375
1,621
2,996
4,366
2,185		 Total
2024
£
283,560
3,802
287,362
1,375
1,621
2,996
284,366
282,185

During 2019, The Hall Evangelical Church Trust donated the Hall Evangelical Church building to Neighbourhood Church. The church has had sole use, rent free, of the land and building since 2011. The trustees of Neighbourhood Church have been unable to obtain a reasonable historic cost value of the land and building as the original purchase was in 1925 and no records can be found. The land has little commercial value due to the schedule of restrictive covenants held on the Register of Title. Since 2011 Neighbourhood Church has made multiple applications for planning permission to extend the building which have been denied by the council. Taking this into consideration the trustees have decided that it would be inappropriate to include a value for the land in these accounts, as without any developmental potential the land is virtually worthless.

The trustees have agreed not to have the building professionally valued as they do not believe the benefit of the valuation would outweigh the cost. The SORP states that donated facilities should be measured at their value to the charity. Neighbourhood Church uses the building for meeting on Sundays, mid-week gatherings, church-run groups which benefit the community and for rental purposes which raise funds for the church. The trustees, after taking into account that the local planning authorities have not granted any of the formal planning requests made to extend the building, have made an assessment of the value of the building to be £280,000 and have insured it for this amount.

The trustees plan to keep the building in good working order and therefore anticipate a high residual value. No depreciation is provided on the building as the currently estimated residual value of the property is not less than its carrying value and the remaining useful life of the building currently exceeds 50 years, so that any annual depreciation charge and the accumulated depreciation would be immaterial.

An impairment review will be carried out at each year-end by the trustees and any resultant loss identified included in expenditure for the year.

Page 12

NEIGHBOURHOOD CHURCH

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024

10 Debtors

10
Debtors
Falling due within one year:
Trade debtors
Tax recoverable
Prepayments and accrued income
11
Cash at Bank and in Hand
Cash at bank with immediate access
Petty cash
12
Creditors: liabilities falling due within one year
Accruals
Deferred income		 2024
£
2,131
11,734
450
14,315
2024
£
59,837
136
59,973
2024
£
2,234
1,222
3,456		 2023
£
1,320
9,173
47
10,539
2023
£
40,454
137
40,591
2023
£
3,072
1,710
4,782

13 Pension commitments

During the year employer’s pension contributions totalling £4,952 (2023: £4,950) were payable to defined contribution personal pension schemes. No pension contributions were owing at the balance sheet date (2023: £nil).

14 Funds

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

Designated Funds
Roof maintenance fund
Unforeseen events fund
Fixed Assets fund
General Unrestricted Funds
Total Unrestricted Funds
Restricted Funds
Welfare fund
Giving fund
Mental Health fund
Aggregate of funds		 Opening
balance
2024
£
16,000
5,000
282,185
303,185
22,937
326,122
1,524
888
-
2,412
328,534		 Incoming
resources
2024
£
-
-
-
-
158,602
158,602
3,178
1,500
1,783
6,460
165,062		 Outgoing
resources
2024
£
-
-
-
-
(132,460)
(132,460)
(2,730)
(1,426)
(1,783)
(5,938)
(138,398)		 Transfers
in the year
2024
£
2,000
-
2,181
4,181
(3,781)
400
(400)
-
-
(400)
-		 Gains and
losses
2024
£
-
-
-
-
-
-
-
-
-
-
-		 Closing
balance
2024
£
18,000
5,000
284,366
307,366
45,298
352,664
1,572
962
-
2,534
355,198

Page 13

NEIGHBOURHOOD CHURCH

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

14 Funds (cont.)

The transfers referred to above were made for the following reasons:

Analysis of net assets by fund

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

lysis of net assets by fund
assets and liabilities of the various funds were as follows:
Tangible fixed assets
Debtors
Cash at bank and in hand
Creditors falling due within one year		 General
Designated
funds
funds
£
£
-
284,366
13,817
-
34,937
23,000
(3,456)
-
45,298
307,366
Unrestricted Funds		 Restricted
funds
£
-
498
2,036
-
2,534		 2024
£
284,366
14,315
59,973
(3,456)
General
funds
£
-
13,817
34,937
(3,456)
45,298
355,198

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

Designated Funds
Roof maintenance fund
Unforeseen events fund
Fixed Assets fund
General Unrestricted Funds
Total Unrestricted Funds
Restricted Funds
Welfare fund
Giving fund
Aggregate of funds		 Opening
balance
2023
£
14,000
5,000
281,992
300,992
32,633
333,625
2,802
741
3,543
337,168		 Incoming
resources
2023
£
-
-
-
-
126,384
126,384
1,000
1,567
2,567
128,951		 Outgoing
resources
2023
£
-
-
-
-
(133,887)
(133,887)
(2,278)
(1,420)
(3,698)
(137,585)		 Transfers
in the year
2023
£
2,000
-
193
2,193
(2,193)
-
-
-
-
-		 Gains and
losses
2023
£
-
-
-
-
-
-
-
-
-
-		 Closing
balance
2023
£
16,000
5,000
282,185
303,185
22,937
326,122
1,524
888
2,412
328,534

Page 14

NEIGHBOURHOOD CHURCH

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

14 Funds (cont.)

Analysis of net assets by fund

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

Tangible fixed assets
Debtors
Cash at bank and in hand
Creditors falling due within one year		 General
Designated
funds
funds
£
£
-
282,185
10,283
-
17,436
21,000
(4,782)
-
22,937
303,185
Unrestricted Funds		 Restricted
funds
£
-
256
2,156
-
2,412		 2023
£
282,185
10,539
40,591
(4,782)
General
funds
£
-
10,283
17,436
(4,782)
22,937
328,534

Restricted Funds

The Welfare Fund is used to help individuals and families who are struggling financially on a short-term basis. Members of the church give specifically into this fund and money is paid out to recipients as and when it's deemed appropriate by the leadership team.

The Giving Fund represents donations received specifically for youth work.

The Mental Health Fund represents funds raised towards supporting a teen mental health project.

15 Transactions with related parties

During the year the charity:

Except as disclosed in note 8 'Analysis of staff costs', there have been no other transactions with related parties during the year.

16 Members

Each member of the company commits to contribute if the charity is wound up an amount of £1.

Page 15

NEIGHBOURHOOD CHURCH

DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES

FOR THE YEAR ENDED 31 DECEMBER 2024

Note
INCOME AND ENDOWMENTS FROM:
Donations
3
Charitable activities
4
Other trading activities
5
Investments
6
Total income and endowments
EXPENDITURE ON:
Charitable activities:
7
Total Expenditure
Net income/(expenditure)
Transfers between funds
14
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
14		 General
Designated
2024
2024
£
£
130,827
-
9,136
-
18,064
-
575
-
158,602
-
132,460
-
132,460
-
26,142
-
(3,781)
4,181
22,361
4,181
22,937
303,185
45,298
307,366
Unrestricted funds		 Restricted
2024
£
6,460
-
-
-
6,460
5,938
5,938
522
(400)
122
2,412
2,534		 Total
2024
£
137,287
9,136
18,064
575
165,062
138,398
138,398
26,664
-
26,664
328,534
355,198		 General
Designated
2023
2023
£
£
96,532
-
13,129
-
16,339
-
384
-
126,384
-
133,887
-
133,887
-
(7,503)
-
(2,193)
2,193
(9,696)
2,193
32,633
300,992
22,937
303,185
Unrestricted funds		 Restricted
2023
£
2,567
-
-
-
2,567
3,698
3,698
(1,131)
-
(1,131)
3,543
2,412		 Total
2023
£
99,099
13,129
16,339
384
128,951
137,585
137,585
(8,634)
-
(8,634)
337,168
328,534

Page 16