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← Jubilee Church, Coventry

2024-12-31-accounts

JUBILEE CHURCH, COVENTRY

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024

CHARITY REGISTRATION No: 1149730

COMPANY REGISTRATION No: 8207822

Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham PO18 8NF

JUBILEE CHURCH, COVENTRY (A COMPANY LIMITED BY GUARANTEE)

CONTENTS

Page 3 Legal and Administrative Information
Pages 4 to 6 Report of the Directors
Page 7 Statement of Financial Activities
Page 8 Balance Sheet
Page 9 Statement of Cashflows
Pages 10 to 19 Notes to the Financial Statements
Page 20 Independent Examiners Report to the Trustees/Directors

2

JUBILEE CHURCH, COVENTRY (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 DECEMBER 2024

LEGAL AND ADMINISTRATIVE INFORMATION

CHARITY NAME

Jubilee Church, Coventry

CHARITY NUMBER 1149730 COMPANY REGISTRATION NUMBER 8207822 START OF FINANCIAL YEAR 1st January 2024 END OF FINANCIAL YEAR 31st December 2024 DIRECTORS THAT SERVED DURING Andrew Simpkins THE YEAR TO 31 DECEMBER 2024 Paul Harrison James Noble Chris Mainey (resigned 27 January 2025) Joanne Bass Tessa Colledge Jonathan Hall DIRECTORS APPOINTED AFTER Stuart Mattocks (appointed 12 February 2025)

DIRECTORS APPOINTED AFTER 31 DECEMBER 2024

REGISTERED ADDRESS St Columba's St Columba's Close Coventry CV1 4BX DATE OF INCORPORATION 10th September 2012 GOVERNING DOCUMENT Memorandum and Articles of Association BANKERS Co-Operative Bank Plc INDEPENDENT EXAMINERS Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham PO18 8NF

OBJECTS

(A) TO ADVANCE THE CHRISTIAN FAITH IN ACCORDANCE WITH THE STATEMENT OF BELIEFS IN THE SCHEDULE HERETO ATTACHED IN SUCH PARTS OF COVENTRY, THE UNITED KINGDOM OR THE WORLD AS THE TRUSTEES MAY FROM TIME TO TIME THINK FIT AND TO FULFIL SUCH OTHER PURPOSES WHICH ARE EXCLUSIVELY CHARITABLE ACCORDING TO THE LAW OF ENGLAND AND WALES AND ARE CONNECTED WITH THE CHARITABLE WORK OF THE CHARITY;(B)TO RELIEVE PERSONS WHO ARE IN CONDITIONS OF NEED, FINANCIAL HARDSHIP OR SICKNESS AND WHO MAY BE AGED AND TO RELIEVE THE DISTRESS CAUSED THEREBY IN THE SAID LOCATION AND IN SUCH OTHER PARTS OF THE UNITED KINGDOM OR THE WORLD AS THE TRUSTEES MAY FROM TIME TO TIME THINK FIT;(C)TO ADVANCE CHRISTIAN AND OTHER EDUCATION INCLUDING BUT NOT BY WAY OF LIMITATION THROUGH THE PROVISION OF TRAINING COURSES IN THE SAID LOCATION AND IN SUCH OTHER PARTS OF THE UNITED KINGDOM OR THE WORLD AS THE TRUSTEES MAY FROM TIME TO TIME THINK FIT;(D)TO PROVIDE OR ASSIST IN 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.

3

JUBILEE CHURCH, COVENTRY

(A COMPANY LIMITED BY GUARANTEE)

Introduction

The Trustees who are also the Directors have pleasure in submitting the Report and Accounts for the year to 31 December 2024.

Public Benefit

The charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.

Objectives and aims of the charity

To enjoy and proclaim the year of the Lord’s favour.

To make disciples – we want to become more like Jesus and teach and show others to do likewise.

To plant Churches – in both the local area and overseas.

To reach other nations – we are part of a worldwide family of Churches. We are committed to supporting other Churches which are part of this network.

How our activities deliver public benefit

Jubilee Church holds weekly meetings in Coventry each Sunday at St Columba’s near the city centre and simultaneously in the Stoke area of the city. There are dedicated children’s groups for 3 to 18 years. During the university term times there is a weekly Church prayer meeting; Powerhouse, on a Sunday evening. There are regular midweek youth groups and children’s groups that serve children from the church and the wider community.

The majority of people within Jubilee are part of a small group. These small groups are designed to provide a context for community in the Church where people can find support and encouragement. We consider the connections made at these groups to be more and more important part of assisting people with their Christian growth and mental wellbeing.

Jubilee Church has continued to develop its relationship with churches in the Dalmatia region of Croatia and Bosnia & Herzegovina. During 2024 Andrew Simpkins was able to visit Croatia to train leaders of churches in the region. However, the majority of support was financial support by funding some of the expenses of one of the in country leaders as he serves Churches in that area.

We have also partnered with other Catalyst Network churches to support churches worldwide that relate to the network.

Jubilee Church continues to provide services for the benefit of those in the city of Coventry through direct grants to Hope Coventry where Andrew Simpkins is a trustee.

The church has continued to be instrumental in creating and running the Motofest Coventry event. This was run successfully in June 2024 when it attracted over 230,000 visitors to Coventry City Centre during the weekend. Unfortunately, due to rising costs, Motofest was not able to make a contribution towards the salary costs of James Noble as it has done in previous years.

We have continued to run outreach projects, language support and provide some grants to immigrants to the city from Hong Kong with British Nationals Overseas status. We have also delivered regular mentoring and coaching sessions to primary aged children in the Stoke area of the city.

We have partnered with other churches in the Catalyst Network of churches to run Encounter a week long event for people suffering from life controlling addictions and mental health issues.

4

JUBILEE CHURCH, COVENTRY

(A COMPANY LIMITED BY GUARANTEE)

Achievements and Performance

Jubilee Church Coventry continues to be a healthy and vibrant Church attended by around 200 people, who have been able to continue to worship God, learn more about Him and tell others about Him.

We have commenced the refurbishment of St Columba’s following its purchase in November 2022. We have continued with the full refurbishment of the premises. The refurbishment programme is about 75% complete and the building is being used successfully as a meeting place for worship and community activities as well as an operating hub for the church and related organisations. The refurbishment programme will continue during 2025 in line with the available funds in the building fund.

Financial Review

Jubilee Church funds decreased by £12,079 during the 2024. This is an increase of £575 on operating unrestricted funds, an increase of £37,716 on Fixed assets funds and a decrease of £50,370 on restricted funds.

Restricted funds are mainly due to gifts received (and the associated gift aid) for building refurbishment, our work with the poor and the closed work in Cambodia.

Investment Policy

Surplus funds are reviewed on a regular basis and where available invested within interest bearing bank accounts. The aims of the investment policy are to maximise the returns achieved subject to minimal risk and the requirement to maintain short term availability of all funds.

Grants Policy

Jubilee is not primarily a grant giving charity. However, the Church does seek to be generous and support a number of other organisations with similar aims and objectives. Jubilee gave regularly to the Catalyst Network of Churches, to Hope Coventry and to support the work of the Church in the Dalmatia region of Croatia and Bosnia & Herzegovina.

Reserves Policy

Jubilee Church aims to hold the equivalent of three months expenditure as general reserves.

Related Parties

Jubilee Church is involved in the work of the Catalyst Network of Churches and has given financially to this work. Andrew Simpkins is a Trustee of the Catalyst Network of Churches and Jubilee Church, Coventry.

Jubilee Church is involved in running Coventry Motofest by supporting through employee and volunteer time. James Noble and Andrew Simpkins are Directors of Coventry Motofest Ltd and Jubilee Church, Coventry.

Jubilee church makes small grants to Hope Coventry. Andrew Simpkins is a director of Hope Coventry and Jubilee Church Coventry.

5

JUBILEE CHURCH, COVENTRY

(A COMPANY LIMITED BY GUARANTEE)

Directors' Responsibilities

The trustees, who are also the directors of Jubilee Church, Coventry for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Charity law requires us as Directors to prepare financial statements for each accounting year which give a true and fair view of the state of the charity and of its income and expenditure for the year.

We are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the company and enable us to ensure that the financial statements comply with the Companies Act 2006.

We also have a responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities.

The trustees are also responsible for the contents of the trustees' report, and the responsibility of the independent examiner in relation to the trustees' report is limited to examining the report and ensuring that, on the face of the report, there are no inconsistencies with the figures disclosed in the financial statements.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

Reference and administrative

Information is provided on the page following the cover sheet

Approval

23rd June

This report was approved by the Directors on …..............................................2025 and signed on their behalf by: ….......................................................................... Cig

Print Name: …..........................................................Andrew Simpkins

6

JUBILEE CHURCH, COVENTRY (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024

Notes
Income
Donations and legacies
2a
Investment Income
2b
Income from charitable activities
2c
Other Income
2d
Total income
Expenditure
Expenditure on charitable activities
3a
Total Expenditure
Net income/expenditure before
investment gains/(losses)
Net gains/(losses) on investments
Net income/(expenditure)
Transfers between funds
8,9
Net movement in funds
Reconciliation of funds:
Total Funds Brought Forward
Total Funds Carried Forward		 Unrestricted
Designated
Designated
Restricted
TOTAL
TOTAL
Fixed Asset
Funds
Funds
Funds
Funds
2024
2023
£
£
£
£
£
£
291,876
-
-
42,918
334,794
357,852
826
-
-
-
826
341
17,138
-
-
-
17,138
10,442
2,722
-
-
-
2,722
15,000
312,562
-
-
42,918
355,480
383,635
293,324
18,663
19,237
36,335
367,559
347,103
293,324
18,663
19,237
36,335
367,559
347,103
19,238
(18,663)
(19,237)
6,583
(12,079)
36,532
-
-
-
-
-
-
19,238
(18,663)
(19,237)
6,583
(12,079)
36,532
(20,460)
20,460
56,953
(56,953)
-
-
(1,222)
1,797
37,716
(50,370)
(12,079)
36,532
66,814
1,409
717,324
79,387
864,934
828,402
65,592
3,206
755,040
29,017
852,855
864,934

Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.

The notes on pages 9 to 18 form part of these financial statements.

7

JUBILEE CHURCH, COVENTRY

(A COMPANY LIMITED BY GUARANTEE)

BALANCE SHEET AS AT 31 DECEMBER 2024

Company number: 8207822 Company number: 8207822 Company number: 8207822
Unrestricted Designated Designated Restricted 31-Dec-24 31-Dec-23
Fixed Asset
Funds Funds Funds Funds Total Total
Note £ £ £ £ £ £
Fixed Assets:
Tangible assets 4 131 - 755,040 - 755,171 717,588
Current Assets:
Debtors 5 14,559 932 - 1,363 16,854 26,014
Cash at bank and in hand 6 57,134 4,234 - 27,658 89,026 128,808
Total Current Assets 71,693 5,166 - 29,021 105,880 154,822
Creditors: amounts falling due with 7 (6,232) (1,960) - (4) (8,196) (7,476)
within one year
NET CURRENT ASSETS 65,461 3,206 - 29,017 -
97,684
-		 -
147,346
-
TOTAL ASSETS less current liabilities 65,592 3,206 755,040 29,017 852,855 864,934
Creditors: amounts falling due in more than
one year
NET ASSETS
Funds of the Charity		 Creditors: amounts falling due in more than -
65,592		 -
3,206		 -
755,040		 -
29,017		 -
852,855		 -
864,934
General Funds 65,592 - - - 65,592 66,814
Designated Funds 8 - 3,206 - - 3,206 1,409
Designated Funds - Fixed Assets 8 - - 755,040 - 755,040 717,324
Restricted Funds 9 - - - 29,017 29,017 79,387
Total Funds 65,592 3,206 755,040 29,017 852,855 864,934

For the year ended 31st December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

23rd June 2025

Approved by the Directors on the …...................................

Signed on their behalf by …............................ Andrew Simpkins[Cig]

Print Name: …..............................................

8

JUBILEE CHURCH, COVENTRY

(A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31 DECEMBER 2024

Cash used in operating activities
(a)
Cash used from investing activities
Interest income
Purchase of tangible fixed assets
Cash provided by (used in)
investing activities
Cash flows from financing activities
Introduction/(Repayment) of long term borrowing
Cash used in financing activities
Increase/(decrease) in cash and
cash equivalents in the year
Cash and cash equivalents at the
start of the year
TOTAL cash and cash equivalents
at the end of the year
(b)
(a) Reconciliation of net movement in funds to net cash flow from
Net movement in funds
Add back depreciation charge
Deduct interest income shown in investing activities
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Net cash used in operating activities
(b) Analysis of cash and cash equivalents
Cash at bank and in hand
Total cash and cash equivalents		 2024
£
16,345
826
(56,953)
(56,127)
-
-
(39,782)
128,808
89,026
operating activities
2024
£
(12,079)
19,370
(826)
9,160
720
16,345
2024
£
89,026
89,026		 2023
£
62,345
341
(162,573)
(162,232)
-
-
(99,887)
228,695
128,808
2023
£
36,532
8,393
(341)
14,922
2,839
62,345
2023
£
128,808
128,808

9

JUBILEE CHURCH, COVENTRY (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1. Accounting policies

a) Basis of preparation

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime and in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with FRS 102 (effective 1 January 2019) - (Charities SORP (FRS 102)) and the Charities Act 2011.

Advantage has been taken of Section 396(5) of The Companies Act 2006 to allow the format of the financial statements to be adapted to reflect the special nature of the charity's operation and in order to comply with the requirements of the SORP.

Jubilee Church, Coventry meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.

The charity has opted to prepare its accounts using natural categories.

Changes to accounting estimates

A change has been made to the accounting estimate regarding fixed asset depreciation. Full details are given in note 1j). No other changes to accounting estimates have occurred in the reporting period

Material prior period errors and changes to previous accounts

No material prior period errors have been identified in this accounting period and there have been no changes to previous accounts.

Preparation of accounts on a going concern basis

Preparation of the accounts is on a going concern basis. The Trustees are of the view that the level of reserves will support the charity going forward.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

b) Income

Income is included in the Statement of Financial Activities (SOFA) when:

The charity has relied upon volunteers in carrying out its charitable activities during the year. In accordance with paragraph 6.18 of the SORP, the role of volunteers has not been recognised in the accounts.

c) Interest receivable

Interest on funds held on deposit is included when receipt is probable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

d) Grants and Donations

Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 SORP).

10

JUBILEE CHURCH, COVENTRY (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

e) Tax Reclaims on Donations and Gifts

Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.

f) Government Grants

The charity has received government grants totalling £5,175 in this reporting period.

g) Fund accounting

Unrestricted Funds

The general fund is used to account for the day to day activities of the church.

Designated Funds

The designated giving fund is from the amount designated by the Trustees to support the work of local Churches in the UK & Overseas. This is primarily through existing relationships with Churches in the Catalyst apostolic network and in the city of Coventry. The designated fixed asset fund is designated by the Trustees to ringfence the fixed assets to enable clearer financial reporting.

Restricted Funds

The Building Fund is from special offerings. During the previous year they were used to purchase a building for the charity, they now represent funds held for refurbishment costs

The Working with the Poor fund is from special offerings and specific donations for particular project

and initiatives working with the poor.

The Cambodia fund is to be used to support a future church plant in Cambodia

The East Meets West fund is from grants and specific donations to be used for the East Meets West project.

The Toasty Tuesdays fund is from grants and specific donations to be used for the Toasty Tuesdays project.

The Other Specific Offerings fund is from special offerings for specific purposes during the year.

h) Expenditure

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. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

i) Offsetting

There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.

j) Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Assets costing less than £2,000 are written off in the year of purchase. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life as follows:

Fixtures and Fittings - 25% on cost

Vehicles - 25% on cost

Building Improvements - 5% on cost (depreciation started 2024, as works were still in progress prior to this) Freehold Building - 2% on cost (started 2023)

Until 1st January 2023, freehold and long leasehold land and buildings were not depreciated as they were deemed to have a very long remaining useful life (i.e. 50 years or more), and the trustees considered that the residual value was at least equal to its net book value. The Trustees have changed the accounting estimation depreciation rate on 1st January 2023 to provide more meaningful financial information and clarity. They have opted as from 1st January 2023 to split the land and building element and depreciate the building element over 50 years. Land is not depreciated.

11

JUBILEE CHURCH, COVENTRY (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2024

k) Operating leases

Rental charges payable under operating leases are charged on a straight line basis over the terms of the lease.

l) Taxation

The charity is exempt from tax on its charitable activities.

m) Legal status of the charity

The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

n) Redundancy payments

The charity made no redundancy payments during the period.

o) Pensions

The charity operates a defined contribution pension scheme for certain employees. Pension contributions are charged to the Statement of Financial Activities as they fall due for payment.

p) Debtors

Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.

q) Creditors

The charity has creditors which are measured at settlement amounts less any trade discounts.

2. INCOME
a) Donations and legacies
General Giving
Income from Grants
Income from Grants (Government)
Gift Aid
b) Investment income
Bank Interest
c) Income from charitable activities
Children and Youth Work
Weekends Away
Gods Big Story Event
Other Event Income
Other lncome
d) Other Income
Secondment income		 Unrestricted
Designated
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
2024
2023
£
£
£
£
£
237,713
-
31,008
268,721
288,760
-
-
-
-
5,400
-
-
5,175
5,175
8,050
54,163
-
6,735
60,898
55,642
291,876
-
42,918
334,794
357,852
826
-
-
826
341
826
-
-
826
341
3,914
-
-
3,914
2,019
5,255
-
-
5,255
4,109
640
-
-
640
-
204
-
-
204
-
7,125
-
-
7,125
4,314
17,138
-
-
17,138
10,442
2,722
-
-
2,722
15,000
2,722
-
-
2,722
15,000

12

JUBILEE CHURCH, COVENTRY

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

3. EXPENDITURE

Notes
a) Expenditure on charitable activities
Building the Church
3aii) and iii)
Donations and Gifts
Grants
3aii) & iii)
Support Costs
3ai)
Governance:
Legal & Professional Fees
Independent Examiners Fees
Support Costs
3ai)		 Unrestricted
Designated
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
2024
2023
£
£
£
£
£
272,316
20,143
1,585
294,044
288,293
2,000
-
500
2,500
500
500
17,757
34,250
52,507
39,542
14,530
-
-
14,530
14,510
2,103
-
-
2,103
2,553
1,710
-
-
1,710
1,520
165
-
-
165
185
293,324
37,900
36,335
367,559
347,103

The church identifies the cost of its support functions, and identifies those that relate to the governance function. Having identified its governance costs the remaining support costs are apportioned between the key charitable activities and costs of raising funds.

3ai) Support Costs

Staff Costs
Premises Costs
Office and IT Costs		 Building
Church
Grants &
Governance
the Church
planting
Donations
Costs
£
£
£
£
9,148
-
1,797
125
1,445
-
284
20
1,551
-
305
21
12,144
-
2,386
165

3aii) Analysis of grants payable

Advancement of Religion
Warwick University
Bosnia Church
Catalyst Network
Hope Church
Hope Coventry
Relief of poverty and need
Individuals
Return of National Grid Toasty Tuesday Fuel Grant		 Institutions
Individuals
2024
2023
£
£
500
-
500
500
2,857
-
2,857
3,000
39,960
-
39,960
9,960
3,940
-
3,940
2,000
3,000
-
3,000
4,940
-
2,250
2,250
9,942
-
-
-
9,200
50,257
2,250
52,507
39,542

13

JUBILEE CHURCH, COVENTRY

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

3. EXPENDITURE

3aii) Analysis of grants payable

Grants totalling £47,257 (2023: £15,460) were given to organisations within the Catalyst Network of Churches which is part of the wider work in which Jubilee is involved or to other charities within Coventry to support the joint work between them and Jubilee Coventry.

Grants totalling £2,250 (2023: £9,942) were given to individuals for the relief of poverty.

Grants totalling £3,000 (2023:£4,940) were given to Hope Coventry for its work in the City.

3aiii) In note 3a) the following items of expenditure are material and more fully detailed below:

----- Start of picture text -----
2024 2023
£ £
Building the Church
Travel and Accommodation incl. catering 7,704 11,341
Vehicle Costs 410 589
Equipment and IT Costs 2,088 6,938
Premises Rental 8,150 11,857
Premises Costs incl. Cleaning and Maintenance 15,146 11,458
Resources and Conferences 5,940 4,866
Guest Speakers 800 1,000
Property Insurance 3,986 4,033
Office costs incl. bank charges 3,132 4,741
Advertising and Publicity 225 293
Staff Costs incl. Salaries 227,093 222,784
Depreciation 19,370 8,393
294,044 288,293
Grants Paid
Churches 2,857 3,500
Charities 47,400 26,100
Individuals 2,250 9,942
52,507 39,542
----- End of picture text -----

4. TANGIBLE FIXED ASSETS

Cost
01-Jan-24
Additions
Disposals
Transfers
Cost at
31-Dec-24
Depreciation
01-Jan-24
Charge
Disposals
Depreciation at
31-Dec-24
Net Book Value
31-Dec-24
Net Book Value
31-Dec-23		 Land &
Freehold
Freehold
Building
Fixtures &
Vehicles
Total
Buildings
Land
Building
Improvements
Fittings
£
£
£
£
£
£
£
-
150,000
413,011
162,573
7,173
-
732,757
-
-
-
56,953
-
-
56,953
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
150,000
413,011
219,526
7,173
-
789,710
-
-
8,260
-
6,909
-
15,169
-
-
8,260
10,977
133
-
19,370
-
-
-
-
-
-
-
-
-
16,520
10,977
7,042
-
34,539
-
150,000
396,491
208,549
131
-
755,171
-
150,000
404,751
162,573
264
-
717,588

14

JUBILEE CHURCH, COVENTRY (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

5. DEBTORS AND PREPAYMENTS

HMRC Gift Aid Tax Recoverable
Other Debtors
6. CASH AT BANK AND IN HAND
Current accounts
Deposit accounts
Cash in hand		 Unrestricted
Restricted
Total
Total
Fund
Fund
31-Dec-24
31-Dec-23
£
£
£
£
12,923
1,363
14,285
23,034
2,569
-
2,569
2,980
15,492
1,363
16,854
26,014
Unrestricted
Restricted
Total
Total
Fund
Fund
31-Dec-24
31-Dec-23
£
£
£
£
27,094
-
27,094
67,350
33,985
27,658
61,643
60,817
289
-
289
641
61,368
27,658
89,026
128,808

7. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other Creditors
Pension Contributions
Independent Examiners Fees		 Unrestricted
Restricted
Total
Total
Fund
Fund
31-Dec-24
31-Dec-23
£
£
£
£
2,795
4
2,799
2,985
3,687
-
3,687
2,885
1,710
-
1,710
1,606
8,192
4
8,196
7,476

15

JUBILEE CHURCH, COVENTRY (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

8. DESIGNATED FUNDS

----- Start of picture text -----
Current Year Balance Transfer Balance
01-Jan-24 Income Expenditure Btw funds 31-Dec-24
£ £ £ £ £
-
Giving Fund 1,409 (18,663) 20,460 3,206
Fixed Asset Fund 717,324 - (19,237) 56,953 755,040
-
718,733 (37,900) 77,413 758,246
Prior Year Balance Transfer Balance
01-Jan-23 Income Expenditure Btw funds 31-Dec-23
£ £ £ £ £
Giving Fund 1,754 - (18,505) 18,160 1,409
Fixed Asset Fund - - (8,260) 725,584 717,324
1,754 - (26,765) 743,744 718,733
----- End of picture text -----

The designated giving fund is from the amount designated by the Trustees to support the work of local Churches in the UK & Overseas. This is primarily through existing relationships with Churches in the Catalyst apostolic network and in the city of Coventry.

The designated fixed asset fund is ringfenced by the Trustees and represented by fixed assets held by the charity.

The designated funds are represented by:

Fixed Assets
Cash at Bank
Debtors
Creditors		 31-Dec-24 31-Dec-23
£
£
755,040
717,324
4,234
1,409
932
-
(1,960)
-
758,246
718,733

16

JUBILEE CHURCH, COVENTRY

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

9. RESTRICTED FUNDS

The restricted funds are only spent on specific purposes.

----- Start of picture text -----
Current Year Balance Transfer Balance
01-Jan-24 Income Expenditure Btw funds 31-Dec-24
£ £ £ £ £
-
Building Fund 56,781 4,238 (56,953) 4,066
-
Working with the Poor 4,874 1,253 (3,568) 2,559
Cambodia 10,450 - - - 10,450
East Meets West 6,491 5,175 (517) - 11,149
Other specific offerings 791 32,252 (32,250) - 793
79,387 42,918 (36,335) (56,953) 29,017
Prior Year Balance Transfer Balance
01-Jan-23 Income Expenditure Btw funds 31-Dec-23
£ £ £ £ £
Building Fund 141,445 65,409 - (150,073) 56,781
Working with the Poor 8,419 3,074 (6,379) (240) 4,874
Cambodia 10,450 - - - 10,450
East Meets West 4,391 8,050 (5,950) - 6,491
- - -
Toasty Tuesdays 9,400 (9,400)
Other specific offerings 862 2,770 (2,841) - 791
174,967 79,303 (24,570) (150,313) 79,387
----- End of picture text -----

The restricted funds are represented by:

Cash at Bank
Debtors
Creditors		 31-Dec-24 31-Dec-23
£
£
27,658
69,335
1,363
10,152
(4)
(100)
29,017 79,387

Purpose of restricted funds:

The Building Fund is from special offerings to be used to purchase a building for the charity. These were transferred to general fund as they were used to purchase St. Columba' s. The funds now held are for the refurbishment costs.

The Working with the Poor fund is from special offerings and specific donations for particular projects and initiatives working with the poor.

The Cambodia fund was the closing assets of our work in Cambodia. They are to be used to support a future church plant in Cambodia.

The East Meets West fund is from grants and specific donations to be used for the East Meets West project. The Toasty Tuesdays fund is from grants and specific donations to be used for the Toasty Tuesdays project. The Other Specific Offerings fund is from special offerings for special purposes during the year.

The transfer of £56,953 (2023: transfer of £150,073) represent building improvements that were funded from restricted funds, and as the restriction was fulfilled once the asset had been transferred, the asset was subsequently reclassed as designated fixed asset unrestricted funds.

17

JUBILEE CHURCH, COVENTRY

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2024

10. ANALYSIS OF STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES AND THE COST OF KEY MANAGEMENT PERSONNEL

Gross Wages and Salaries
Employer's National Insurance Costs (net of annual allowance)
Employer's Pension Costs
Other Payroll costs (Life Assurance)		 2024
2023
£
£
191,204
191,907
14,635
14,146
29,254
23,922
954
921
236,047
230,896

Staff are paid through the PAYE system.

Within the SOFA salaries are split between Charitable purposes and support costs.

The church contributed to the pension scheme of 6 employees throughout the period and paid life cover contributions for one employee.

The church operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund.

Employees were engaged in the following activities

Activities in furtherance of Charitable Objectives
Management & Administration		 2024
2,023
5
5
1
1
6
6

Number of employees whose total employee benefits (excluding employer pension costs) fell within each band of £10,000 from £60,000 upwards:

Band Number of employees
£60,000 to £69,999 2
£70,000 to £79,999 0
£80,000 to £89,999 0
£90,000 to £99,999 0
£100,000 to £109,999 0

Key management personnel are considered to be the Trustees and Church Elders. Three trustees received a salary and benefits for their employment as a Church Elder. This is disclosed in note 11 below. No other key management personnel received any payments.

18

JUBILEE CHURCH, COVENTRY

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

11. TRUSTEES AND OTHER RELATED PARTIES

In this financial period the charity has paid trustees remuneration and benefits (including Employer Nl, Employer Pension and Life Assurance contributions) for their roles as Church Elders as follows:

Name of Trustee
Legal authority
Andrew Simpkins
Governing document
James Noble
Governing document
Paul Harrison
Governing document		 TOTAL
TOTAL
Remuneration Employer NI
Employer
2024
2023
Pension & Life
Assurance
£
£
£
£
£
54,050
6,124
17,648
77,822
75,199
54,873
6,317
5,487
66,677
63,443
43,767
4,785
3,282
51,834
49,306
152,690
17,226
26,417
196,333
187,948
Amounts paid or benefit value

No trustees were remunerated for their role as a trustee.

In this period the charity has paid expenses to Trustees in relation to their roles as employees and Church leaders, not in relation to their role as Trustees, as follows:

Number of Trustees who were paid expenses
Amount paid:
Training and Conferences
Hospitality
Mileage
Other travel (flights, parking, train fare)
Accommodation
Total Amount paid		 TOTAL
TOTAL
2024
2023
3
3
£
£
258
109
37
81
1,256
950
31
132
212
61
1,794
1,333

7 Trustees made donations to the Charity during 2024. These donations totalled £75,250 (2023: 7 x Trustees donated £71,189). There were no conditions attached. There are no outstanding balances at the balance sheet date.

Grants of £39,960 (2023: £9,960) were paid to Catalyst Network of Churches. Andrew Simpkins has served as a Director for the Catalyst Network of Churches during this period.

Grants of £3,000 (2023: £4,940) were paid to Hope Coventry. Andrew Simpkins is a Trustee of Hope Coventry.

Gifts of £2,000 (2023: £500) for event sponsorship were given to Motofest. Andrew Simpkins and James Noble have served as Directors of Motofest during this period.

No other payments were made to trustees or any persons connected with them during this financial period other than the reimbursement of sundry direct expenses incurred and reimbursement of expenditure incurred on behalf of the charity. No material transaction took place between the organisation and a trustee or any person connected with them.

19

INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES

I report to the trustees on my examination of the accounts of Jubilee Church, Coventry for the year ended 31 December 2024.

Responsibilities and basis of report

As the charity’s trustees of Jubilee Church Coventry, (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 Jubilee Church, Coventry 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 material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

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.

Signed:

Date: 30 June 2025

Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF

20