Godflrst Church Cheltenham Ltd IA Company Ilmited by guaranteel Annual Report and Financlal Statements Year Ended 31 December 2024 Company re8lstratlon numbèr.. 08090929 Ch£iity re815tratlon number.. 1148222
Godf irst Church Cheltenham Ltd Contents Reference and Admlnlstralive Detail$ Trustees, Report Statement of Trustees, Responslbilltle5 Independent Examinels Report Statement of FlnaN¢l)l Artlvltles Balance Sheèt 9-10 Notes to the Fln)ncial Statements 11-20
Godfirst Church Cheltenharn Ltd Reference and Administrative Details Tru$tee$ H Kellett. Church Leader T eradbury Gatley J Au85burger J Dally S Parkes Man•$•mont H Kellett C Appel Gov•rnln4 Do¢ument Mernorandum and Articles of A5soclatlon dated 31 May 2012 Prln¢lp•l Offi¢• 2 Mayhlll Shurdln8ton Fioad Cheltenharn Gloucestershlre GL52 ONJ Company ReqlstrAtlon Number 08090929 Ch•rlty Reglstrotlon Numb•r 1148222 Bankers HSBC Bank PIC lftd•p•nd•nt EMomln•r Adrlan Carr AAT The A¢¢ountlng Bureau Ltd 87 North Rotd Poole Dorset BH14 OLT
Godfirst Church Cheltenham Ltd Trustees, Report The trustees. who are the chariry's director$ fgr the purposes of company law. have pleasure in submittln8 the Report and Accounts for the ye¥r ended 31 Decèmber 2024. Oble¢tl¥es ol the char5ty The church be6aA 8atherin8 5nlormally In September 2009. The charlty Is a chèritable company and Is 8overned by Its rnemorartdum and artlcles of a550ciarion as avail•ble at Companles House. The prlmèry oblertlve of the ch3rltyi as ser out In the governin8 document, Is to advince the Chrlstlan laith in accordance wlth the char5ty'5 Starement ol Beliefs, In Cheltenham, and In such other parts ol the United Klngdom and the world, as theTrusttes may from tlme to 1Sme thlnk lit. Summary of thè ch&rfty'S maln a¢ilvltles To further the above objects and vislon, the ¢h)rity'l moln artlvltlès •re as follows.. At the start ol thls reportin8 perlod there were 142 Jdults and 60 chlldren commltt•d to supportin8 Jnd 4ttendin8 Godflr5t and Sts varlou$ mlni5trles, By thq end of the reporting perlod thls number has r•duced sll8htly to 138 •dults and $3 chlldren, beln8 the first tlme slnce 2020 that the TNStees have observed any decllne In numbers. The Chapel has ¢ontinutd to support tho Church'$ 8rowln8 minlstrles, occ•siona11y servln8 as a Sunday mornln8 vÈnuÉ whtn the re8uI?r plète of meetlng èt Cheltenham Ladlts Colle8e15 un?¥allable, and hostlng a onte.a.m¢nth worship 5Èrvice oft a Sunday evÈnSng. Other mid-wetk m5nlstrl89 that have seen stron8 8rowth durln8 the perled include.. a group IOT mothers and babie51"Tlddlers and Toddlers")., an after school club.. a c•lé I'chapel Calé"),. a community cholr l The Chapellas'l., provldln8 a lortnl8htty hot mejl lor the vulnerable and homeless I'The Feast'l.. hostln8 a nitional Church leadership conferencè for Advan¢e Movemeni UK.. provldins a spac• fer Prayer, Counselllng and Sntreductory Chrlstlan courses IAdvince Theglogy Course, Alpha, 3211. The Church alscs c¢ntlrtue$ ro work w5th Be J Good Nel8hbour charlty, SUPPOrtln8 dlsadYJntJged famllle5 acr055 Chèltenham, èné welcomed a new intern io suppprt the work of the church stall te8m land attend re8ular theolo8i<al tralnln81. Every year the church pravlde$ the opportunlty Irhreu8h10815tlcal and flnanclal support) for 20-30 youthl teenager5 to attend Newday Festival, a tamp run by the Christian oraanisatlon. Newlrcntiers el which Godlirst15 affllllted. This takes place on Norwlch Show8round 2nd is a 8reat opportunity lor the youth to develop thelr relationship wlth Jesus, spendln8 a week wlth leader5 from Godlirsi. worshlppln8 and Ilsiénin8 to Christian teachln8. GTants and GlYln8 Grants have been given by Godflrst to orBènlsations and charities that share the ¢hurch's Values and charitablt alms, lficludlng Be a Good Neighbour and Teens Sn Crlsis. The church also operates a"Hard5hip Fund" Itn line wlth Sts tharitjble aims) which is a fund developed to allow the church to support local people in deep Ilnancial need, and Is used in line with rhe church's Haré5hip fund policy.
Godfirst Church Cheltenham Ltd Trustees, Report The church zlso donates tg Qther churches in the UK and ovÈr5eas lincludin8 those In le$5 devgloped settyngsl where those churches, activitie5 align wlth the Jims end objectlves of Godfirst. Th•se intlude Godfirst Church Barry In South Wales la wholty Indepenéent church to Godllrst CheltenhaMI. Reconclllatlon Ro¥d Church In South Africa and Mosalc Church In Belglurn. The thurch's safe8uardln8 procedures are révièwed re8ularly In Ilne wlth currentgu5dellnes from ThlrtyJne,'el8ht (formerly CCPA51. The chur¢h 4150 works t? ensu contlnued full GDPR compllance, In plannlng the actlvltles ol the Church, thi Trustee5 have applled the 8uldance on publ1¢ benellt 5sued by the Chir4tle5 ComrnI551on. Stfln8 The chureh's staff base at the end 012024 was 2.8 FTE12023,, 2.61. The staff team conslsted ol lull.tlme Senlor P•stor, • full-timt a5S0tlate plstor and o part.time Flnènce and Operatl¢n5 Man8£er10.8 FTEI, There Is also èn unpald Intem. Stru¢ture, Governance and Mafti8em¢nt The pollcy ond oper3tln8 declslons of the ¢harlty rest wlth the Dlrectors who mee¢ re8ulody to monitor the actlvltle$ ol the ccmpiny. The Trustee5 ore responslble lor ensurinR that Godflrst Church Cheltenham fulfils Its alms. The day.to-d•y management of the charlty Is delegated to How•rd Kelleit who serves both a$ 8 Trvstee andrs employed as the Senlor Pastor of ihi church. Howard has re8ulèr meetings wlth the wlder lader5 of the church Ibcth the lorrnally reco8n15ed Trustees, and gther Informally re¢o8nlsed leaders who slt wlthin the member5 ol the con8re84tSonl, Tht church also updJted Its Artlcles of A$seclatlon In the ye?r (proposed by It5 voluntary Dlrector51 to reco8nlJe that • smjll 8roup of spirltual leader5. 'the Elders" Iwhlch In¢lude Howard Kellett a5 Senlor Pistor, and 3 other leader5 who act on a voluntary bas151 exerclse reasonable influence over the church and will thor¢fore becgme Members ol the company, The church ensures a clear deline1On of respons5billtles between the Dire¢tors/Tru5tees, the Elders èné the staff team. To avoid obvlous tonfllct5 gf Interest wlth Howard beln8 both a Membor ènd a pald Director, the board of Director$ is intefitionally formed with • majoriw of Voluntary Dire¢tor5 who Chair the board MeenE$, )nd h85 at times also featured one or more Independent Directors. Howard also slts out ol key empleymÈnt related board declsion5 that Imp8¢t hirn personally. This Incluée5 Staff remuneration which Is a¥reed annually by a Remuneratlon Committee (formed entlraly of vnpald Dlre¢torsl. Potentl?I new Dirèctorsnrustees are typically Identlfled by the Elders, then approved and appolnted bv vote ol the board. The church's Operntlons ènd Flnance Mana8er prèparè5 detailed monthty finan¢lal reports for the Elder5 ané Trustees, whlch are scrutin15ed ?c¢ordln81y. Ggdlirst Is pèrt ol theAdvan¢e Movement UK I"Advance"l Network of Churches.
Godfirst Church Cheltenham Ltd Trustees, Report Flnanclal Revlew Duilng the year ended 31 Detember 2024 there w85 3 net inflow ol funds of £2,740 lyear ended 31 December 2023 net irtllovl of £89,886). The princlpal lundin8 sources of the church arevia ollerin85 of the church rnembers ènd regular attendees and the8ilt aSd reclaimed on these gilrs, Total lundin8 in thè yèar wis £291,431 lye?r ended 31 Detember 2023 £352,882>. The decrease was expecied as prlor years Include slgnlflcènt lund-raisin8 for the ycquisltlon of the Chapel whlch was completed in 2023. N¢t current assets Increased In the year to £360,83312023'. £3S8,0931. Thls includes the equlry held In The Chapel. A5 at the year end £63,14912023.. £SO,2591 was held In the b•nk, all of whlch were unrestricted funds. After rn¥kln8 re?nab1è enqulrios, the Trustets have ¥ reasonable expectatlon thli the Charlty has adequite re59urtts to contlnue In opera¢lonal existencè forthé foreseeable future. For rhls reason, thev contlnue to adopt the 80iNe concern basi5 In preparlng the flnanclal sraiemenr5. Further details ie8ardlni the adoption ol the 8oln8 concern basls can be found In the accountlns poli¢les. R05erve5 pollty The 8oard of Dlrectors hove estob115hed a policy whereby free reserve5 Iwhl£h thi Trustees deflne as beln8 unr•strlcted net cyrrent a55etsl held by rhe chlrlty should bè malntained at between 2 and 3 monttts ol normèl committed church expendlture Iwhlch equJte5 to èpproxlniately £50-70kl. The rèservis pollcy Includes ireen, amber Jnd red acilon levels where cash flow falls below 2 Ind I months. normal commltt•d ¢hurch exptndlture. Kiy rlsks 4nd unc•Tt•lnll•s The Olrettors h&ve reviewed the rlsks to which a small charlty operètln8 wlth è léw employee515 exposed. Approprlate procedures are In plac• to Identlfy+ monltor and revltw these rlsk5 On a regular basss. Plans lor tho future We remain commilted io growth in Ilne wlth our ch4rltable alms and wlth a deslre to be of publlc ben•lit to the people of Cheltenham and beyond. TruJt1è5 The trustees who are dlrecior5 for rhe purpose of ¢tsmp•ny law, whg seNed durln8the year and up to the date of thls report are Set out vn pa8e l. The tepori of the director5 has been prepared tiklni advantage of thi small compJnle5 exemptlon of sèctlon 415A ol tht Companies kt 2W6. The annual report was •pproved by the tru5teesolthe Charlty on slined on It5 behalf by,. oward Kellett Trustee
Godfirst Church Cheltenham Ltd Statement of Trustees, Responsibilities The trustee5 (who are also the dlrectors of Godflrst Church Cheltenham for the purposes of company lawl are rPOnsIble for preparingthe trustees, report and the flnanc181 statements sn accordance wlth the Unlted Kln8dom Accountlng Standards Iunlted Klngdom Generllly Accepted Accountin8 Practicel and appllcable law and r8Bulations. Company law requlres the trustees t¢ prepare financial statements for each financial year. Under company law the trustees must not approve the flTranclal st8ternents unless they are satlsfled that they 8lve a true and farr vlew of the state ol affalrs of the charltable company and of its incomlng resources and appllcatlon of resources, Includln811s Incorne and experditure, lor that perlod. lrn pr•partn8 these Nnancial statements, the trustee5 are requlred to.. seSect sultable accountlng pollcles and apply them conslstentlyi observe the methods and prlnclplès sn the Charltles SORP,. make lud8ements and estlmates that are reasonable and prudent,, state whether applicable UK Accountlnu Standards have been followed, sublects to any materlal departures dlscl¢sed and explalned In the flnancial statements,. and prepare the financlal statements orn the goln8 concern basls unless It Is Inapproprlate to presume that the charltable company wlll contlnue In buslness. The trustees are responslble for keeplng adequète ac¢ountln8 records th8r are sufficlent to show and explaln the charltable company's tran5artions and disclose wlth rea50n8ble accuraty at any time the financial posltl¢n ol the charltable company and enable them to ensure that the flnancial slaternents comply wlth the Companies Act 2006. They are also responslble for safeguardln8 the assets of the charltable company and hence for t3klng reasonable stEP5 for the preventlon ènd detertlon of fraud and other Irre8ularltie5. Approved by the trustee5 of the charlty on2q.,.....*..&.¥and slgned on Its behalf bv.. éKellett Trustee
Godf irst Church Cheltenham Ltd Independent Examiner's Report to the trustees of Godfirst Church Cheltenham Independent examSner'5 report to the trustees of Godflrst Church Ch•lienham Charftable Company I'the Company'l I report to the charity trustees on my examlnation of the accounts of the Company for the year ended 31 Decèmber 2024. R•sponslbllltSe$ and bisls of report A5 the charlty's trustees of the Company land also Its dSre¢tors for the purposes of company lawl yeu are responslble for the preparatSon of the accounts In accordance wlth the requlrements of the Companies Att 20061'the 2006 Aet'l. Havlng satlsfied myself that the accounts of the Company art not requlred to be audlted under Part 16 of the 2006 Act and are eli8lble for the Independent examlnaEion, I report In respect ol my exarnln8tion of your charilv's accounts as carrled out under secllon 145 of the CharltSes Act 2011 I'lhe 2011 Act'l. In carrying out my examination I have followed the Dlr8Ctlons 8lven by the Charity Comm1$51on under sectlon 145151 Ibl of the 2011 Act. Indendent examln¢r'5 StatÈmènt I have ctsmpleted my examinatlon, I conflrm that no rnatters have come lo my attention In connectlon with the examlnation glvlng me cause to belleve.. Accountlng records were not kept in respect of the Company a5 required by section 386 of the 2006 Act; or The accounts do not accord wlih those records; or The accounts do net comply wlth the ac¢ountln8 requlrement5 of sectlon 396 of the 2006 Act other than any requlrernent that the accounts 8ive a 'trJe and fair vlew, whlch15 not a rnatter considered as part of an Independent examination,. or The accounts have not been prepared in accordance wlth the methods and principles of the 5taternent of Recommended Practlce for a¢¢ounlin8 and repc*rtin8 by charltles lapplicable to charltie5 preparin8 thelr accounts in accordance with the FSnancial Reportin8 Standard applicable in the UK and Republ1¢ of Ireland IFRS 10211.
Godfirst Church Cheltenham Ltd Independent Examiner's Report to the trustees of Godfirst Church Cheltenham I have no concerns and have come across no other matters in connection wtth the examination 10 which attention should be drawn in thi5 report in order to enable a proper understanding of the accounts to be reached. Adrian Carr A4T The Accounting Bureau Ltd 87 North Road Parkstone Poole Dorset BH14 OLT Q October 2025
Godflrst Church Cheltenham Ltd Statement of Financial Activities for the Year Ended 31 December 2024 iIA1•5trl¢t•d lunds R•51rlctqd knds Toial In<om• and Éndowm•nts Irorn.. Oon/Doni ènd legatles Charitae actlvites Inve$lm&n Orher Ir(orne Totsl Incom 268,236 17.169 432 240 285,976 5,455 273,591 17,168 432 240 291431 E%phdiwre on.. 281,183 281,163 7,528 7.$28 Z85,691 288,691 T•t•l exp•ndltur• N•1 Incom•ll•ipendtur•l 4.813 2,073 1740 TrInthrnb••1r$ lundo 12 073 1073 N•t movemtntkn 1740 1,740 Totol funds biou8ht forw•rd Total fundStarrlAd lorwaid 351093 360,833 358.093 360,833 12 UnM5trfrt•d fvnds Tot•1 2015 lunds Incom• i•d Éndtswm•nti Irom.. Donilions ar ielxlès 271,954 8.268 L636 120 28J,978 70.904 342,858 8.268 1.636 120 YS2,082 Inwsirnents Olh•r In¢om roiBI In¢om• 70.904 E¥p•ndiiur• on.. 261.89S 261,896 I,Ic LIOO 262,996 262,996 Total Expendltuf• N41 InComl•Pen%l1Jrej 20,081 69,904 89,886 Tr•n5fvrlb•t fnth 13 326,139 326.139 Net mwementln lunds 341221 256,335 89,886 R¢Ortlll•tlon of funds Total lunds brou8ht lorwaié Toti funds c•rried forward Il871 3S8.093 256.33$ 268,207 358,U93 17 All of th charlty's aciivltles deil¥e from contlnuln8 owrations dunw the abovE perfads. The fund5 brtakdowfi tor 2ts34 Is shownln wte 17.
Godflrst Church Cheltenham Ltd Balance Sheet 31 December 2024 UnrestAoed lunds Rejtrlcted lunds Totol 1024 Total 2013 Note Flxed l¢t5 Tin8ibk assets 659.110 659,110 658,779 Cuir•nt •SS¢ts Debtor> Co5h at b8nk ind In hand 3,311 63,1419 66,460 3,311 63,149 66.1160 8,078 50,259 56.337 Cmdltory.'Amounisf•lllw du• wlthln ¢¥n• y••r io 50,344 30,344 20.341 N•t turr•nt •$8iti 36.116 37.996 CMdltors'.AMountsl•lllrydts• •ft•r on• y¢•r 334,393 334,393 338,682 Tot•1 n•t •51•ti 3fj0,833 360.833 358,093 Fund b•lin¢•i 12 GoD•rhl lurtds D45i8nit•d funds 360,833 360,833 358,093 36D,833 360,833 3S8,093 Restrcted funds Tot41 fund5 360,833 360,833 358,093
Godf irst Church Cheltenham Ltd Balance Sheet 31 December 2024 For the financial year endlng 31 December 2024 the charity was entltled to exemptlon from aLtdlt under sectlon 477 of ihe Companles Act 20Q6 relatln8 to small cotnpanles. Directors. respons*bllltles'. The members have not required tho chartty to obtaln an audlt of Its accounts for the year In questlon in accordance wlth section 476; and The dlrectors ackrnowledgtr thelr re5ponsibllltles for complyin8 wlth the requlrements of the Act wlth respect to accountlN8 recoids and ihe preparatlon of accounts. These accounts have been prepared In accordance wlth the prov151on5 appllcable to companles subje¢t to the small companles re8ime. The flnan¢lal statements trn pa8as 12 to 26 were approved by the trustees. and authorlsed lor Issue on.A.q.k.sH.r..l¥... and signed on thelr behalfbv.. eti rustee Company Re8Sstratlgn Number.. 08090929 io
Godflrst Church Cheltenham Ltd Notes to the Financial Statements Year Ended 31 December 2024 A¢¢ountln8 pollchs $urnmary of s18nlfl¢ant a¢countlng poll¢l•s and k•y accountlng estlmat•s The princlpal accounllnB policle5 applied In the prèparztlon of these financial Statements are set out below. These pollcles hève been con$15tently applied to all the years presented, uThless Jtherwise stated. Stat•m•nt of compllan¢• The flnanclal statements have been prepared In accordanee wlth Accountlng and Reportlng bv ChaTltles'. Stèiem?nt ol Recommended Practlce ippllcable te tharitles preparlng thelr acceunt5 in cordante with the Flnanclal Rep¢rting Standard applicable in the UK ind Republlc ¢1 Ireland IFRS 1021 lellectlve I january 20151. ICharltie5 50RP IFRS 10211, the Fln)n£lal Reportln8 Standard appllcable In the UK and Republlc of Ireland IFRS1021 and the Companles Aci 2006. B•sl$ of prep•r•tlon Godfirst Church Cheltenham Is ? re8lstered charfty, re8lstratlon number 1148222, c¢Mpany number 08090929, reslstered in the Unlted Kin8dom. The addreu of ihe ch?rlty1$ 8lven In the reference and admlnsiraiive det•lls on page l of these Ilnandal statements. The nature of the ch¥rlty's optratlons ané prlndp•l actlvltles are de5tr5btd In the Trustees, ?nnu81 report, The chirlty tonstltutes a publlt beneflt entity is dtfined by FA5 102, The Ilnanclal staternent5 are prepared on a 8olng concern bas13 under the hlstoricèl c05t conventlon, modlfiettt to include certaln Items at falr value. The linancl81 statements are prepared In si•rlln8 whlch Is the functional Currency ol the charlty Jnd rounded to the nearest whtsle pound. fx•mptlon from pyeparlng • cayh flow statomertt The charity has èdopted Bulletin I published on 2 Februaly 2016 and have therefore not Ineluded a ash flowstatement In these Ilnancial statements. Incorng ¥nd 8ndowm¢nt$ All intome Is rec¢8nlsed once the chèrlty has entitlement to the Income, li Is probable that the Income will be re¢elved and the amount of the Income recelvable tan be measured rellably. Donoti¢ns und legtrcles Donations are recosnlsed when the charlty has been notllied ITr wrltln8 of both the amount and 5ettlernent dète. In the event that a donation Is subject to conditlon thèt require a lèvel ol perlormante by the charity before the charlty 15 entitled to the funds, the IncomE Is deferred and not recogni5ed unril either those condition5 are fully rneL or the fvlfllmènt of ih05e condItio is wholly withln the control trl the charlty and it Is probable that these condltlons will be fulfilled In the reporting perlod. li
Godf irst Church Cheltenham Ltd Notes to the Financial Statements Year Ended 31 December 2024 Expenditur? All expendlture ts recognised once thérè Is a le4tal or Cornstructlve obSi8atic)ft to that expendlture. it15 probable 5èltlemÈnt is required and the amount can be measured rellably. All costs are Jllocated to th¢ appllcable expenditure heading that aggregate simllar Costs to that category. Where cost5 cannot be dlre¢tly attributed to particular headin85 they have been allocated on a basls consistent with the use of resources, with central staff costs allocated on the b3$1$ of time spent. and depreclaritsn Charges allocated on the portion of the asset's use. Other 5UPPOrt ¢0sts are allocated based on the spread of staff costs. Chorftuble uctlvltle5 Charltable Èxpendlture comprlses those costs In¢urred by the charlty In the delSvery ol Its actlvltles nd services for its beneficiorlts, It Includes both c05t5 that can be allgcated dlrectly to Such o¢tlvities and those costs of an 5ndlre£t n•tur• necessary to support them. Gront provlslons Provlslons for Br8rnt5 are made when the intentlon to make a 8rant has been communlcated to the r•¢lplent but there Is uncenalnty about elther the tlmlng of the 8rant or th¢ amount of 6rJnt pay8bl•. Govèrnan¢• costs These include the costs attributable to thé chèrity's compllance wlth constltutlonal and statutory requirements, includlng audlt, strateglc management and trustee's meètings aftd relmbursed expense5. TaxJllon The charity15 consldered ro pass the tests set out In Para8raph I Schedule 6 of the Flnan¢e Act 2010 and therefore It meets the deflnition of a ¢harltlablè company for UK Corporation tax purposes. AccDrdingly. the charlty b potentially exempt from taxation In respect ol Income or capital galns receNed within cate8ories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Sectlon 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such Income or 8alns are pplied excluslvely to ch8rltable purposes. Tanglblo tlx•d $*t$ Individual flxed assets are inltia11y recoTd¢d at C05t, less any Subseqent accumulated depreclatlon and subsequent accumulated impairment losses. 12
Godfirst Church Cheltenham Ltd Notes to the Financial Statements Year Ended 31 December 2024 O•pr•clatlon and amorll$atlon Depretiation is provlded on tan8lble fixed assets so 8S to wrlte off the cost or valuatlon, le$$ Inv esty'rnated residual value, over thelr expected useful economic life as follows.. A$set cla$5 Fixtures, fittSn8s and eovlpment Depre¢latlon method and rate 25% per annvm on a redu¢ln8 balènce bisls Church property and Improvemen¢s 2% stral8hi Ilne basls CJ5h ¥nd ush •qulvalents Cash and cash eFulvalent5 comprlse cash on hand and call dep051ts, and other short-terrn hl8hty Ilquld Inve5trnenis that are readlly c¢nvertlble to a known amount of cash and are subject to an In518nificJnt r15k ol chan8e In value, Borrowln8S Interest-bèarln8 borrowin85 are Inltlally re£orde¢J 41 falr vjlue, nèt of transèctltsn costs. Interest- bearln8 borrowSn89 are subsequently cariled at arnorllsed c05t. with the dlfference betw•en the proceeds, net of tfansa¢tion costs, and the amount dve on redemptlon beino reco8nlsed as a char8e t¢ the Statement of Flnan¢lal Actlvltles over the perlod of the re5evant borrowln8. Interest expense is recg8nlsed on the ba515 of the efle¢tlve Interest rnethod afid Is Included In Inierest payable and simllar ¢har8es. Borrowlngs ale cla5slfled a5 current Ilabllltles unle55 the eharity has an uncondltlonal rl8ht to defer settlement of the Ilabllliy for at leat twelve months after the reportlng date. Fund structure Unresirlcted Income funds ère Beneral fvnd5 that are avallèble for use at the trustee5' dlstretlon In furtherance of the obleciives ¢1 the charity. Desl8natEd Fund5 are unrestrlcted fund5 Set a$lde for speclfl¢ purpose5 al the dlscretlon ¢f the trustpe5. Restricted Income funds are those donated for use In a partl¢ular area or for spe¢lfl¢ purpose5, the use of whlch is restritted to that area or purpose. Penslons and other p05t retlrèment obll8atlon5 The company offers a deflned contribution penslon scheme. Corntrlbutlons are charged in the In¢ome and expendlture account as they become payable In accordance wlth the rules of the scherne. 13
Godfirst Church Cheltenham Ltd Notes to the Financial Statements Year Ended 31 December 2024 Incom• from donatlons and le8acles Llrrèstrlcted funds Re5trlcttd funds Total Z023 Z024 Donatlon5 and Ip8aties.' Donatlons of ¢ash arnd slmllar Gilt ald re¢lalmed 220,073 48,063 5,455 225,528 48.063 301,747 41,111 268,136 5,455 273,591 342,8S8 Incom• from charltablo actlvltles Unrestrkted funds R•strlcted funds Totol Z024 Total 2023 Church courses and events 17,168 17,168 8,26B 17,168 17,168 8,268 Inv•stm8nt In¢om• Unrestrlci•d funds R*strlcted funds Total 2023 1024 Bank interest 432 432 1,636 432 432 1,636 othor Income UnrestrlctÈd funds R•5trlctÈd funds Total 2014 Totsl Z023 Chapel arts rental 240 240 120 240 240 120 14
Godfirst Church Cheltenham Ltd Notes to the Financial Statements Year Ended 31 December 2024 Expèndlture on ¢harltabl• •¢tlvltl•s Unrestrlcted funds R•5trlcted lunds Total 2024 Total 2023 Costs In¢urred dlrectly on speclflc attlvltl?s Errploymènt related (note 71 134,019 Staff tost5 1,604 Conferences Jnd tralnlng 14,743 Advertlsln8 825 Chur¢h actlvltles 12.301 Venue hlre 21.690 Guest Speakers 1,884 Grant5 payable Inote 6cl 20,582 Chapel runllln4 Costs 13,893 Mort8age costs 22,262 134,019 1,604 14,743 825 19.829 21,690 1,884 20,582 13,B93 22,262 121,794 789 4,415 5,552 15,689 20,823 1.099 12,363 6,761 13,350 7,528 243,803 7,528 251,331 202,635 Unr•strlct¢d lunds Restrlrted funds Total 2024 Totul 20Z3 Costs Incurred on support and admln15tr8tlon Independent Examiner's remunoration 1,440 Olflce costs, includSn8 equlpm¢nt 7,968 Depreclatlon of tanglble assets 24,704 Legal and professlonal lee5 1,781 Insurance 1,467 1,440 7,968 24,704 1.781 1,467 3.480 10,508 20,259 23,728 2,386 37,360 37,360 60,361 Total èxpendlturo 281,163 7,528 288,691 262,996 15
Godfirst Church Cheltenham Ltd Notes to the Financial Statements Year Ended 31 December 2024 fjrants payable Instltutlon5 Indlvlduals 2024 Mb51onary stspport Re11ef of proverty 20,000 555 20.555 20.000 582 20,582 27 27 The ¢omparatlves for the prevlous year ore a$ follows: Instltutlons Indlvldu•ls 2023 Mlsslonary support Rell&f of provèrtv 10,600 200 10,800 663 900 1,563 11,263 1,100 12,363 The ¢harlty'S prlnclpal 8rants to Instltutlons comprised., 2024 2023 Athance Movement UK Famlly Space Teens in Crisls Reconciliatlon Road jubilee Church Godlirst Barrv Be a Good Nelghbour Grants to Snstltutlon5 lor less than £1,000 each 8,900 8,000 200 2,200 200 1,000 2,400 I,ioo 3,300 3,300 S55 20,555 200 10,800 16
Godfirst Church Cheltenham Ltd Notes to the Financial Statements Year Ended 31 December 2024 AnalysSs of st?ff costs, key peisonnel ar trustee remuneratlon The a88regate payroll tost5 were a5 follows; 2024 2023 Wa8es and salarles Employer's natlonal Insurance contrlbullons Employer's penslon conlrlbutions 120,028 5,866 8,125 134,019 106.270 4,555 10,969 121,794 The monthly avera8e number of persons IincludSn8 senlor management team) employed by the charSty durln8 the year expressed as full tlme equNalents Was as follows: 2024 No 2023 No Staff No staff recelved salarles at a rate of more than £60,000 per ènnum12D23'. none), Durln8 the year employer'5 penslon eontrlbution5 tot•llln8 £8,12512023.' £10.9691 were payable to dellrsed contributlon personal penslon schemes. Penslon contrlbutlon5 tolalling £46612023.. E6801 were c+wed at the balance sheet date. In 2025 11 was dlscovered that, due te a hlstorlc admSnlstratfve ermr, the Charlty had not been fullv meetin8 contractual obll8atlons wlth one of Its diiectors, In respect of pension coThtTlbutlons, The correct ptssltlon wos determined by the rernuneratlon commlttee and verllled by an eiternal Independent Ihird-party before bein8 settled. rhe amount underpald t¢talled £4,861 and has been Included In the ¢ontrlbutlons shown In the yer to 31 December 2Tr24. 17
Godf irst Church Cheltenham Ltd Notes to the Financial Statements Year Ended 31 December 2024 Tanglble flxed assets Fixtur•s and flttln8s Church Muslcal property and •qulpment Improvements Total Cost At I january 2024 Additlons 26,861 25,035 10,634 650,QOO 687,49S 25,035 At 31 December 2024 51,896 10,634 650,000 712,530 DepYe¢latlon At I january 2024 Charge for the year 6,715 11,296 9.001 408 13,000 13,000 28,716 24,704 At 310ecember 2024 18,011 9,409 26,000 53,420 N•t book value At 31 December 2024 33,885 1,225 624,000 559,110 At 31 December 2023 20,146 1,633 637.000 658,779 Debtors 2024 2023 Tax recoverable Other debtors Prepayments and accrued income 3,311 4,000 4,078 3.311 8,078 18
Godfirst Church Cheltenham Ltd Notes to the Financial Statements Year Ended 31 December 2024 io Credltors.. amounts f•lllng due wllhln onè yèar 2024 2023 Bank loans Other t4xgriDn and soclal securlty Other creditor5 Actruèls Deferred Income 3,982 2,689 6.025 17,648 3.674 3,048 1,579 12,040 30.344 20,341 Credltors dve wlthln one year Includes the f¢llowln8 Ilabllltles, on which se¢urlty has been glven by the £harlty'. 2024 2D13 Bank loans 3,982 3,674 There Is w le8èl thar8e In respect ot tht prgperty rnoTt8a8e Irem Kln8dom Dank. The mort8a8e Is secured a8alnst the The Chapel, Knapps Road, Cheltenham, GL50 3QQ li Credllofs: 4mtsunts fillln8 due aft•r one y•Jr 2024 20Z3 Bank loans 334,393 338,682 Credltors amounts lalllng due after mere than on• year Includès the followlng Ilèbllitles, on whlch securfty hBS been 8lven by the ch8rlty'. 2024 2023 Bank loan 1-2 years Bank loan 2-5 years Bank loon > 5 year5 3,982 11.946 318,465 334,393 3.674 11,D22 323.986 338,682 Included In the credltor5 are the followin8 amounts due ofter more than flve years.. 2024 2023 After more than five ye?Is 318.465 323,986 19
Godf irst Church Cheltenham Ltd Notes to the Financial Statements Year Ended 31 December 2024 12 Funds Balance Bt ljanuary 2024 8alan at 31 December 2024 Incomln Reyour¢es expended Transf•rs resgvrces Unreslrlcted funds Geneial Des18nated 358,093 285,976 281,163 2,073 360,833 358,093 285,976 281,163 2,073 360,833 Restylcted funds 5,455 7,528 2,073 Total funds 358,093 291.431 288.691 360,833 8•lance •t l January 2023 Balanc• Bt 31 December 2023 Incomlni resources Resources exp¢nd•d Tr•nsf•r$ Unre5trlcted lunds General Deslgnated 11,872 281,978 261,896 326,139 358,093 11,872 281,978 261,896 326,139 358,093 Restrlcted funds 256,335 70,904 I,ioo 326,139 Total fund5 268,207 352,882 262,996 358,D93 The transfer of funds between restrlcted and unrestrlcted in 2023 ielates to the costs a5so¢iated wlth the purchase of The Chapel and the additional fixtures and fittlngs requlred to make it functlonal. Whilst the funds donated to the Chapel purchase were restflcted, the board ha5 asreed that the Chapel should be considered an unrestricted asset by way of the common understanding that It would be purchased and used for any charitable purpose at the discretioj of the board and Church leadershlp. 20