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2024-04-30-accounts

REGISTERED COMPANY NUMBER: 08045796 (England and Wales) REGISTERED CHARITY NUMBER: 1148723

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

CHASE FAMILY CHURCH

CHASE FAMILY CHURCH

CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 30 APRIL 2024

Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6 to 7
Notes to the Financial Statements 8 to 14
Detailed Statement of Financial Activities 15 to 16

CHASE FAMILY CHURCH

REPORT OF THE TRUSTEES for the Year Ended 30 APRIL 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 April 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

Our main weekly Sunday service is held at CHASE Family Church CENTRE (Shirley Hall), our aim is to preach the gospel regularly within Enfield through the church in whatever way we can and to encourage people to know God's love in Christ and together show that love in word and action. The management of St John Ambulance (our neighbour in Shirley Road) let us use their car park, which is a real benefit for the Church services.

Membership

Church membership has remained constant, although the attendance is harder to measure due to the continued development of our online services, which causes some to watch from home. We broadcast most of our Sunday Services through Facebook, YouTube and our website which has brought a greater audience as well as some who watch from home. The occasional person moves out of the area due to retirement and work, but we are still seeing new people join the church through courses run such as Alpha and Freedom in Christ.

Public benefit

As a local congregation Chase Family Church seeks to advance the Christian religion through its activities and the facilities offered to the community by its building and activities. The Trustees are aware of the Charity Commission's guidance on public benefit in "The Advancement of Religion for the Public Benefit" and has regard to it in the administration of the Church. The Trustees believe that the Church provides benefit to the public by providing resources and facilities for public worship, pastoral care and spiritual, moral and intellectual development, both for the congregation and for anyone else who wishes to benefit from what the Church offers, promoting Christian values and service by members of the congregation to the community, for the benefit of individuals and society as a whole.

ACHIEVEMENT AND PERFORMANCE Charitable activities

The year 2023/2024 continued to see good performance. Activities provided either at the centre or online as below:

8) Bible 4 Blokes - met on several occasions and a breakfast

10) Various Home Groups and Door to Door Reach Out Teams

We are still developing our online services, not only Sundays but other promotional videos which continues to attract a new audience.

We continue to thank God and acknowledge the faithful support and hard work of our church membership.

Page 1

CHASE FAMILY CHURCH

REPORT OF THE TRUSTEES for the Year Ended 30 APRIL 2024

FINANCIAL REVIEW

Reserves policy

Chase Family Church is currently dependent on donations / tithes to sustain its activities, as earned income alone would not allow Chase Family Church to continue operating. This means that if there were to be a gap in donations / tithes it is likely that Chase Family Church would have to close. To avoid closure if funding difficulties were to happen the trustees have agreed to keep a certain level of financial reserves to ensure that main operations can continue for a period of 2 months. The main concerns of the board are to ensure that staff can continue working, primarily to secure new funding and that members/service users are supported to move on to other services. Currently funding has been secured until 2025, but if difficulties were to arise then, it has been calculated those reserves of £37,000 would be needed to continue running for at least 2 months. The increase in the reserves is mainly due to the additional staff employed. The reserves should be built up from the unrestricted (earned) income. The level of reserves should be calculated and monitored every 12 months by the Elders / Trustees. This policy should be reviewed yearly and whenever there are significant changes in staff hours or numbers.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

The Elders are responsible for the recruitment of new Trustees. The Elders believe this approach ensures that new Trustees are respected members of the faith. In selecting new Trustees, they seek to identify people who have attended events and functions organised by the church. New Trustees are also selected by their personal competence and specialist knowledge and skills.

Induction and training of new trustees

Following appointment new Trustees are made aware of their responsibilities. Initially new Trustees work with existing Trustees assisting on particular activities and projects run by the church. Individual Trustees are set certain responsibilities according to their skillset and all Trustees attend Trustee meeting as required.

Risk management

As Trustees we assess the risks the church faces at our Trustees meetings, we weigh up the nature of the risks involved, likelihood of the risks happening, and the measures taken to manage such risks. All Trustees are DBS checked along with any member of the church that work with children or other vulnerable groups.

Elim Network

Elim Network is the new name for ECI (Elim Church Incorporated) which we are part of.They have guided us in other areas to do with Leadership.

Safeguarding

All workers are appointed, trained, supported and supervised in accordance with our Safeguarding Policy which is available on our website. Safeguarding training has been held in-person and online to give team flexibility. We have looked holistically this year at all aspects of safeguarding and therefore reviewed our current policy, practice guidelines and risk assessments.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

08045796 (England and Wales)

Registered Charity number

1148723

Registered office

Shirley Road Enfield Middlesex EN2 6SB

Page 2

CHASE FAMILY CHURCH

REPORT OF THE TRUSTEES for the Year Ended 30 APRIL 2024

Trustees

K Swan M Le Baigue M Higgins P Tidey Ms H Nicolas

Company Secretary

K Swan

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................ Ms H Nicolas - Trustee

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHASE FAMILY CHURCH

Independent examiner's report to the trustees of Chase Family Church ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 April 2024.

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.

Maurice Brindley BSc FCA

Date: .............................................

Page 4

CHASE FAMILY CHURCH

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the Year Ended 30 APRIL 2024

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
191,041
Investment income
2
650
Total
191,691
EXPENDITURE ON
Charitable activities
Church Running Costs
189,730
NET INCOME/(EXPENDITURE)
1,961
Transfers between funds
10
(22,677)
Net movement in funds
(20,716)
RECONCILIATION OF FUNDS
Total funds brought forward
99,218
TOTAL FUNDS CARRIED FORWARD
78,502		 Restricted
funds
£
17,292
-
17,292
33,790
(16,498)
22,677
6,179
9,124
15,303		 30.4.24
Total
funds
£
208,333
650
208,983
223,520
(14,537)
-
(14,537)
108,342
93,805		 30.4.23
Total
funds
£
207,891
323
208,214
203,468
4,746
-
4,746
103,596
108,342

The notes form part of these financial statements

Page 5

CHASE FAMILY CHURCH (REGISTERED NUMBER: 08045796)

BALANCE SHEET 30 APRIL 2024

Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
7
17,288
CURRENT ASSETS
Debtors
8
12,806
Cash at bank and in hand
59,050
71,856
CREDITORS
Amounts falling due within one year
9
(10,642)
NET CURRENT ASSETS
61,214
TOTAL ASSETS LESS CURRENT
LIABILITIES
78,502
NET ASSETS
78,502
FUNDS
10
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
-
-
15,303
15,303
-
15,303
15,303
15,303		 30.4.24
Total
funds
£
17,288
12,806
74,353
87,159
(10,642)
76,517
93,805
93,805
78,502
15,303
93,805		 30.4.23
Total
funds
£
18,394
8,199
94,363
102,562
(12,614)
89,948
108,342
108,342
99,218
9,124
108,342

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 6

CHASE FAMILY CHURCH (REGISTERED NUMBER: 08045796)

BALANCE SHEET - continued 30 APRIL 2024

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

.............................................

M Higgins - Trustee

............................................. K Swan - Trustee

The notes form part of these financial statements

Page 7

CHASE FAMILY CHURCH

NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 30 APRIL 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements and assessment of going concern

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

The financial statements are presented in sterling (£).

Critical accounting judgements and key sources of estimation uncertainty

No significant judgements have been made during the course of preparing these financial statements. There are no sources of estimation uncertainty.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

Taxation

The charity is exempt from corporation tax on its charitable activities.

Debtors

Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.

Cash at bank and in hand

Cash at bank and in hand includes cash, current bank accounts and deposit bank accounts with no withdrawal limitations.

Creditors

Creditors are recognised where then charity has a present obligation resulting from a past event that will result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

continued...

Page 8

CHASE FAMILY CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 APRIL 2024

1. ACCOUNTING POLICIES - continued

Fund accounting

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Financial instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2. INVESTMENT INCOME

2. INVESTMENT INCOME
30.4.24 30.4.23
£ £
Deposit account interest 650 323
3. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets 30.4.24
£
4,322		 30.4.23
£
4,050
Other operating leases 2,024 3,117
Independent Examination 1,860 1,800
4. TRUSTEES' REMUNERATION AND BENEFITS
Trustees' salaries 30.4.24
£
45,566		 30.4.23
£
44,154
Trustees' social security 2,726 2,447
Trustees' pensions paid 1,180 1,137
49,472 47,738

Payments to trustees were for the services provided as ministers and not those of Trustees.

continued...

Page 9

CHASE FAMILY CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 APRIL 2024

4. TRUSTEES' REMUNERATION AND BENEFITS - continued

Trustees' expenses

Any expenses claimed by Trustee's were reclaims of expenditure directly relating to that of the Charity.

Key management personnel

The Trustees consider the Key Management to consist of the Trustees and Elders of the Church.

During the year total remuneration received by the Trustees and Key Management can be seen above.

5. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Average number of staff
No employees received emoluments in excess of £60,000.
6.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
190,645
Investment income
323
Total
190,968
EXPENDITURE ON
Charitable activities
Church Running Costs
179,943
NET INCOME/(EXPENDITURE)
11,025
Transfers between funds
(9,595)
Net movement in funds
1,430
RECONCILIATION OF FUNDS
Total funds brought forward
97,788
TOTAL FUNDS CARRIED FORWARD
99,218		 30.4.24
£
136,193
6,490
1,668
144,351
30.4.24
6
Restricted
funds
£
17,246
-
17,246
23,525
(6,279)
9,595
3,316
5,808
9,124		 30.4.23
£
123,508
5,496
1,354
130,358
30.4.23
6
Total
funds
£
207,891
323
208,214
203,468
4,746
-
4,746
103,596
108,342

continued...

Page 10

CHASE FAMILY CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 APRIL 2024

7. TANGIBLE FIXED ASSETS

COST
At 1 May 2023
Additions
At 30 April 2024
DEPRECIATION
At 1 May 2023
Charge for year
At 30 April 2024
NET BOOK VALUE
At 30 April 2024
At 30 April 2023
8.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
Gift Aid
Prepayments
9.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Social security and other taxes
Other creditors
Accruals and deferred income
Accrued expenses
10.
MOVEMENT IN FUNDS
Net
movement
At 1.5.23
in funds
£
£
Unrestricted funds
General fund
99,218
1,961
Restricted funds
Miscellaneous Restricted
9,120
5,778
Mission
4
(22,276)
9,124
(16,498)
TOTAL FUNDS
108,342
(14,537)		 30.4.24
£
-
7,019
5,787
12,806
30.4.24
£
1,318
797
6,667
1,860
10,642
Transfers
between
funds
£
(22,677)
401
22,276
22,677
-		 Plant and
machinery
£
28,536
3,216
31,752
10,142
4,322
14,464
17,288
18,394
30.4.23
£
9
6,382
1,808
8,199
30.4.23
£
1,704
777
8,333
1,800
12,614
At
30.4.24
£
78,502
15,299
4
15,303
93,805

continued...

Page 11

CHASE FAMILY CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 APRIL 2024

10. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Miscellaneous Restricted
Mission
TOTAL FUNDS		 Incoming
resources
£
191,691
13,858
3,434
17,292
208,983		 Resources
Movement
expended
in funds
£
£
(189,730)
1,961
(8,080)
5,778
(25,710)
(22,276)
(33,790)
(16,498)
(223,520)
(14,537)

Comparatives for movement in funds

Unrestricted funds
General fund
Restricted funds
Miscellaneous Restricted
Mission
TOTAL FUNDS		 At 1.5.22
£
97,788
5,804
4
5,808
103,596		 Net
movement
in funds
£
11,025
7,682
(13,961)
(6,279)
4,746		 Transfers
between
funds
£
(9,595)
(4,366)
13,961
9,595
-		 At
30.4.23
£
99,218
9,120
4
9,124
108,342

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Miscellaneous Restricted
Mission
TOTAL FUNDS		 Incoming
resources
£
190,968
14,372
2,874
17,246
208,214		 Resources
Movement
expended
in funds
£
£
(179,943)
11,025
(6,690)
7,682
(16,835)
(13,961)
(23,525)
(6,279)
(203,468)
4,746

continued...

Page 12

CHASE FAMILY CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 APRIL 2024

10. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Restricted funds
Miscellaneous Restricted
Mission
TOTAL FUNDS		 At 1.5.22
£
97,788
5,804
4
5,808
103,596		 Net
movement
in funds
£
12,986
13,460
(36,237)
(22,777)
(9,791)		 Transfers
between
funds
£
(32,272)
(3,965)
36,237
32,272
-		 At
30.4.24
£
78,502
15,299
4
15,303
93,805

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Miscellaneous Restricted
Mission
TOTAL FUNDS		 Incoming
resources
£
382,659
28,230
6,308
34,538
417,197		 Resources
Movement
expended
in funds
£
£
(369,673)
12,986
(14,770)
13,460
(42,545)
(36,237)
(57,315)
(22,777)
(426,988)
(9,791)

Mission Fund

The Mission Fund is for any missional purposes based in the UK or abroad.

Miscellaneous Restricted Fund

This fund encompasses any small funds such as Alpha, Weekends Away, Youth, Make Lunch and other individual projects.

continued...

Page 13

CHASE FAMILY CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 APRIL 2024

11. RELATED PARTY DISCLOSURES

During the year Mrs E Higgins, a spouse of the trustee Mr M Higgins, received a salary of £8,746 (2023: £8,475) this was in relation to her role as administrator in the church.

During the year Mrs S Tidey, a spouse of the trustee Mr P Tidey, received a salary of £19,909 (2023: £19,244), this was in relation to her role as Support and Development Worker for the church.

During the year Mr K Swan received £850 (2023: £1,150) for speaking at church services. These transactions were in the normal course of church activity.

Page 14

CHASE FAMILY CHURCH

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 30 APRIL 2024

DETAILED STATEMENT OF FINANCIAL ACTIVITIES
for the Year Ended 30 APRIL 2024
30.4.24 30.4.23
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 141,365 147,778
Gift aid 23,683 23,912
Grants 21,667 16,667
Sundry Income 1,471 784
Income from church events 20,147 18,750
Investment income 208,333 207,891
Deposit account interest 650 323
Total incoming resources 208,983 208,214
EXPENDITURE
Charitable activities
Trustees' salaries 45,566 44,154
Trustees' social security 2,726 2,447
Trustees' pensions paid 1,180 1,137
Wages 90,627 79,354
Social security 3,764 3,049
Pensions 1,668 1,354
Hall Hire 2,024 3,117
Insurance 1,670 1,725
Telephone 806 736
Postage and stationery 1,198 1,628
Sundries 1,149 726
Mission 19,385 18,007
Evangelism & Outreach 7,113 5,024
Youth Work 7,846 6,472
Church events expenses 10,074 5,965
Equipment Costs 1,050 1,233
Computer expenses 2,659 2,336
Conferences and seminars 1,635 1,574
Visiting speakers 1,988 2,338
Other gifts 4,786 7,895
Premises expenses 7,756 6,476
Plant and machinery 4,322 4,050
220,992 200,797
Support costs
Finance
Bank charges 500 419
Governance costs
Accountancy and legal fees 2,028 2,252

This page does not form part of the statutory financial statements

Page 15

CHASE FAMILY CHURCH

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 30 APRIL 2024

for the Year Ended 30 APRIL 2024
30.4.24 30.4.23
£ £
Total resources expended 223,520 203,468
Net (expenditure)/income (14,537) 4,746

This page does not form part of the statutory financial statements

Page 16