CHRIST CHURCH LOUGHBOROUGH
TRUSTEES REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
CHARITY NUMBER: 1147604
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CHRIST CHURCH LOUGHBOROUGH
TRUSTEES REPORT FOR THE PERIOD ENDED 31 March 2023
The Trustees present their annual directors’ report together with the Financial Statements of the charity for the year ended 31 March 2023 which are also prepared to meet the requirements of the directors’ reports and accounts for the Charities Act purposes.
The accounts comply with the Charities Act 2011, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102)
(effective 1 January 2015)
Objectives and Activities
The Objectives and Activities of the charity are as follows:
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3.1.1 the advancement of the Christian faith in accordance with the Basis of Faith, primarily, but not exclusively, within Loughborough and the surrounding neighbourhood; and
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3.1.2 such other charitable purposes as shall, in the opinion of the charity trustees, put into practice the Christian faith in accordance with the Basis of Faith, including but not limited to: the prevention and relief of need, hardship and sickness; the advancement of education; and the provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disability, financial hardship or social circumstances with the object of improving their conditions of life; provided that the advancement of such purposes must be undertaken in a manner that is consistent with the Ethical Statements as may be adopted and amended by the CIO from time to time.
We as trustees recognise that it is our legal obligation to ensure that the charity's activities are in line with our objectives and activities. We are satisfied that this is the case for the period in question. The trustees also confirm that they have had regard to the charity commission's guidance on public benefit.
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Achievements and Performance
The following activities have been conducted by the charity in the reporting period.
Salaries:
The charity has supported two church elders and an administrative team’s salaries over this period. These individuals have been employed as staff members for Christ Church Loughborough. This has enabled the charity to meet its objectives through the elders being employed to provide teaching which advances the Christian faith in accordance with the Basis of Faith, and through the administrators providing support for the charity’s activities.
Church Building:
Since 2018 the charity has owned a church building on Herbert Street in Loughborough. We use this for church meetings and other activities. The charity is currently overseeing an ongoing project to renovate the building.
Church Resources:
The charity has paid for general resources for the charity to enable the church’s work of promoting the Christian faith. This includes buying new print resources, funds for refreshments at services and church publicity.
CCLI, CCPAS, Insurance:
We have paid money to CCLI, CCPAS and to gain insurance. This is necessary for the charity to run events which promote the Christian faith through church services and young people's work.
Advancement of the Faith:
The charity has run a number of events over this period in order to advance the Christian faith. Events have included children’s clubs, services at a nursing home, a fun day and Christmas and Easter themed events.
The charity continues to support North Church Leicester which was initially a plant from Christ Church Loughborough.
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Financial Review:
In previous years, finances were reported on an accruals basis. From this year the reporting shall be on a cash basis.
The charity had an income this financial year of £94,567 and a total expenditure of £104,189 leading to a net loss of £9,622.
The charity started the year with funds of £98,954 and so ended the year with a balance of £89,331.
The Trustees believe this leaves the charity in a strong position to pursue its goals into the future.
Reserves Policy:
The following is the reserves policy of Christ Church Loughborough (from hereon known as CCL).
- 1) When will money be held in reserve?
Money will be held in reserve for the following two reasons:
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a. Three months' running costs will be kept in reserve at all times; this amount will be decided upon annually at the AGM.
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b. Money may be set aside for one-off projects, which fit with CCL’s objectives and require setting money aside (e.g. raising money for a building). Projects will be principally decided upon and initiated by the Trustees and then reported at the next trustees’ meeting.
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2) How and when will money in reserves be spent?
Money in reserves will be spent if any of the following conditions are met:
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a. If the Trustees notice a significant short fall in the income of the charity they will use an appropriate sum of money to fill this void. If it is considered that the short fall will last more than three months an emergency Trustees’ meeting shall be called to discuss matters.
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b. If a project initiated by the Trustees and which the Trustees have been made aware of reaches its completion then money will be removed from reserves equivalent to this amount by the Trustees.
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3) How and when will it be reviewed?
The policy will be reviewed at the AGM. The principal discussion will be:
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a. To agree upon the limits of the reserve policy for the year under point 1a and 1b.
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b. To review expenditure from the reserve policy under points 2a and 2b.
Structure, Governance and Management
The charity is registered as a charitable incorporated organisation (CIO) and was set up by the Memorandum of Association on 29 July 2011.
The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of Articles of Association. New Trustees are advised of their obligations under charity and company law, the content of the Memorandum and Articles of Association as well as the structure and decision making process of the charity.
The trustees determine the day-to-day operations of the charity or appoint appropriate officers to whom this responsibility is delegated.
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Reference and Administration
Trustees
Mr Andrew Snart (Chair of Trustees) Mr Alex Wright Dr Jonathan Woodrow Mr Nicholas Pollock
Charity Registered Number:
1147604
Registered Office:
63 Toothill Road Loughborough LE11 1PN
Independent Examiner:
Colin Wood Bookkeeping Services colwood@ntlworld.com
Bankers:
HSBC 41 Market Place Loughborough Leics LE11 3EJ
Approved by the trustees on 20 November 2023 and signed on their behalf by:
…………………………………
Andrew Snart
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CHRIST CHURCH LOUGHBOROUGH BALANCE SHEET AS AT 31 MARCH 2023
| Fixed Assets Current Assets Debtors Bank Liabilities Net Current Assets Net Assets THE FUNDS OF THE CHARITY Unrestrcited Funds Restricted Funds |
31 March 2023 30,900 - 58,431 58,431 - 58,431 89,331 £ 89,331 - 89,331 £ |
31 March 2022 30,934 18,643 49,877 68,520 500 68,020 98,954 £ 98,954 - 98,954 £ |
31 March 2022 30,934 18,643 49,877 68,520 500 68,020 98,954 £ 98,954 - 98,954 £ |
|---|---|---|---|
| 58,431 | 68,520 | ||
| - | 500 | ||
| 98,954 - |
|||
| 98,954 £ |
The balance sheet for the period ending 31 March 2022 was produced on an accrual basis, the balance sheet for the period ending 31 March 2023 has been produced on a cash basis.
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CHRIST CHURCH LOUGHBOROUGH
INCOME AND EXPENDITURE ACCOUNT
| Total | Total | |||
|---|---|---|---|---|
| 2023 | 2022 | |||
| INCOME AND ENDOWMENTS FROM: | ||||
| Regular Donations | 77,505 | 77,767 | ||
| One off Giving | 10,899 | 4,587 | ||
| Gift Days | 4,860 | 7,208 | ||
| Charitable Activities | 970 | 1,324 | ||
| HMRC - Gift Aid | 126 | 18,180 | ||
| Interest | 207 | 45 | ||
| TOTAL INCOME | £ | 94,567 |
£ | 109,110 |
| EXPENDITURE ON CHARITABLE ACTIVITIES | ||||
| Grants to institutions | 3,585 | 8,635 | ||
| Ministry expenses | 3,729 | 2,611 | ||
| Event and Expenses | 4,377 | 3,851 | ||
| Outreach expenses | - | 554 | ||
| Premises costs | 5,689 | 34,428 | ||
| Administration costs | 2,765 | 3,942 | ||
| Wages and salaries | 82,828 | 89,114 | ||
| Accountancy fees | 255 | 380 | ||
| Depreciation | 34 | 40 | ||
| Professional Fees | 928 | 7,134 | ||
| TOTAL EXPENDITURE | £ | 104,189 |
£ | 150,690 |
| EXCESS OF INCOME /EXPENDITURE | -£ | 9,622 |
-£ | 41,580 |
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CHRIST CHURCH LOUGHBOROUGH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
| 2023 STAFF COSTS Wages and salaries 78,019 National insurance 7,714 Less: Employment Allowance -5,000 Pension Contributions 2,095 Total 82,828 £ £ Average number of employees 4 The following trustees received remuneration during the year. Jonathan Woodrow 32,183 £ £ Nick Pollock 39,017 £ £ |
2023 78,019 7,714 -5,000 2,095 |
2022 82,662 8,038 -4,000 2,414 |
|
|---|---|---|---|
| £ | 82,828 £ |
89,114 |
|
| 4 38,775 37,159 |
Jonathan Woodrow and Nick Pollock received remuneration for their roles as pastors to the Church, not for their roles as trustees.
One trustee was accruing retirement benefits during the period. No employee received remuneration in excess of £60,000
Two trustees were accruing retirment benefits during the period. The contributions are to a defined contribution pension scheme. The contributions in the year were £2136 (2022: £2278)
The following trustees and their partners were reimbursed for expenses on behalf of the
| Alex Wright Andrew Snart Nick Pollock Jonathan Woodrow |
2023 57 £ - £ 163 £ 556 £ |
2022 |
|---|---|---|
| 15 £ 348 £ - £ - £ |
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CHRIST CHURCH LOUGHBOROUGH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
FIXED ASSETS
| Tangiable Assets At 1 April 2022 Additions Disposal At 31 March 2022 Depreciation At 1 April 2022 Charge for the Year Less: On Disposals At 31 March 2023 Net Book Value At 31 March 2023 Net Book Value At 31 March 2022 |
Freehold Property 30,708 - - 30,708 £ - - - - 30,708 £ 30,708 £ |
Plant and Equipment 385 - - 385 £ 159 34 - 193 192 £ 226 £ |
Total 31,093 - - |
|---|---|---|---|
| 31,093 £ |
|||
| 159 34 - |
|||
| 193 | |||
| 30,900 £ |
|||
| 30,934 £ |
The freehold propery has an insurance value of £498,979.
If this property is sold within 7 years of purchase then an additional payment is due. The amount to be paid is dependent on the disposal proceeds and the time between purchase and disposal of the property.
| DEBTORS Gift Aid Reclaimable |
2023 | |
|---|---|---|
| 0 | ||
| £ | - |
Independent examiner's report on the accounts
Section A Independent Examiner’s Report
Report to the trustees/ Charity Name members of Christ Church, Herbert St, Loughborough, Leics On accounts for the year 31[st] March 2023 Charity no ended (if any) Set out on pages (remember to include the page numbers of additional sheets)
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31/03/2023
Responsibilities and As the charity's trustees, you are responsible for the preparation of the basis of report accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination
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. . Date: 11[th] October 2023 Signed: Name: Colin Wood Relevant professional Member of the Association of Accounting Technicians qualification(s) or body (if any): Address: 16 Wordsworth Rd Loughborough Leicestershire LE11 4LQ
1
Oct 2018
IER
Section B Disclosure
Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
Give here brief details of any items that the examiner wishes to disclose .
2
Oct 2018
IER