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← Christ Church Mayfair

2023-12-31-accounts

REGISTERED COMPANY NUMBER: 08246310 (England and Wales) REGISTERED CHARITY NUMBER: 1152061

REPORT OF THE TRUSTEES AND AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR CHRIST CHURCH MAYFAIR

Hartley Fowler LLP Statutory Auditors Chartered Accountants 4th Floor Tuition House 27-37 St George's Road Wimbledon London SW19 4EU

CHRIST CHURCH MAYFAIR

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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Page
Report of the Trustees 1 to 4
Report of the Independent Auditors 5 to 7
Statement of Financial Activities 8
Balance Sheet 9
Cash Flow Statement 10
Notes to the Cash Flow Statement 11
Notes to the Financial Statements 12 to 22
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CHRIST CHURCH MAYFAIR (REGISTERED NUMBER: 08246310)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

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 31 December 2023. 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

The charitable company Christ Church Mayfair was incorporated as a vehicle to take over the activities of The Bible Talks. The transfer took place on 1st October 2018 by virtue of a deed of transfer.

The charity was established to advance the Christian faith and its main activity is the provision of Christian teaching at Christ Church, Mayfair in London.

Significant activities

Our vision is to make disciples of Jesus Christ by seeking to encourage believers to grow in maturity, serve in ministry and go in mission to reach those who don't know Christ. We seek to build community and attract newcomers to the church through two Sunday services and a variety of midweek activities.

The church's activities continued during this period. One encouraging development was that the student numbers, which declined during and immediately after the Covid 19 pandemic, returned to healthier numbers. Services continued to be livestreamed. A good number of newcomers also arrived, and attendance at mid-week Bible study groups continued at a healthy level. .

Over the period the church hosted a number of guest dinners and talks to which church family members could invite friends and family interested in exploring the Christian faith. The church also organised Christianity Explored and Honest Questions, two courses that have a similar aim.

We are grateful that volunteers with Tamar, an antitrafficking group working in the local community to reach out to trafficked women in the sex trade, were able to continue their visits to women.

CCM's support of Midweek in Mayfair, a lunchtime meeting for local business people, has continued. Midweek in Mayfair continues to give a grant to CCM for staff time but the amount is lower than it once was.

The seven ministry interns who started on 1 September 2022 continued to serve into the period covered by these accounts for the remainder of that academic year. They were given a range of practical responsibilities and ministry experience, in addition to the training which they receive. With effect from 1 September 2023 there were three interns, again with a spread of practical and ministry responsibilities.

The full-time administrator employed in September 2021 remained in post. The part-time tech manager who was recruited at the end of September 2021 did too; he was able to meet the increased technical needs of the church.

Grantmaking and training

The charity continues to provide support for a number of individuals and organizations outside the church. This included financial support for people involved in Christian ministry and training both within the UK and abroad, as well as gifts to Christian organizations in the UK supporting workers here and overseas.

A hardship fund (the Deacons' Fund) has been a great blessing to many in the church family who have found themselves in financial hardship. Church family members who could afford to do so have given generously to this end and those in need were able to apply for a gift or loan. The process was carefully monitored by the Deacons: Jal Quinn, Susie Dye, Adrian Valeriano and Jo Duckering.

Efforts to reach different parts of London with the good news of Jesus Christ continued, and so support to the Bridge Church in Battersea has continued.

CCM would like to continue giving volunteers the opportunity explore ministry and gain some theological training with a view to potentially going into this in a full-time paid capacity and intends to make grants available to men and women to be able to do this as volunteers going forward. We are delighted that, over the period covered by these accounts, the number of interns increased after suffering a drop during the pandemic.

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CHRIST CHURCH MAYFAIR (REGISTERED NUMBER: 08246310)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

OBJECTIVES AND ACTIVITIES

Volunteers

We continue to be dependent on a large number of volunteers to run the activities of the charity and are very grateful for all their flexibility and time in a huge variety of roles including Sunday School teachers, Bible study leaders, musicians for Sunday services, welcomers & stewards and Deacons. The staff team have provided a lead and support, but it is no exaggeration to say that the ministry of the church could not have taken place without a huge, servant-hearted team of church family members.

STRATEGIC REPORT

Reserves policy

Christ Church Mayfair endeavours to maintain sufficient reserves to manage ongoing cashflow requirements in line with the recommendation of the Charity Commission (approximately three months of outgoings).

The Statement of Financial Activities is set out in this report and shows at the end of the year the total reserves held amounted to £1,129,202

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity was established to advance the Christian faith through Christian teaching at Christ Church, Mayfair in London.

The charity originally operated as an unincorporated charity, The Bible Talks, registered charity number 1092036, controlled by its governing document, a Trust Deed, dated 4 November 2001 as amended by a Supplemental Deed dated 14 April 2002.

On 1st October 2018 the assets and undertakings of the unincorporated charity's were transferred to Christ Church Mayfair, a charitable company limited by guarantee, registered in England and Wales (company number 08246310) and registered with the Charity Commission under charity number 1152061.

At the date of the transfer the unincorporated charity had loans secured against the freehold properties held by it. It was not possible to renegotiate these on comparable terms to allow the transfer of properties and loans to the limited company, so the trustees resolved to retain these within the unincorporated charity until such time as this could be resolved. During the period covered by these accounts one of those properties was sold. The charitable company continues to cover the cost of the rent and maintenance of the other property held by The Bible Talks which is used to house the Senior Minister. Costs incurred in relation to the continued operation of the unincorporated charity are recharged to the charitable company. This has been agreed by an exchange of letters.

Organisational structure

The Trustees meet at least twice a year to review all aspects of the charitable company's activities, including finances. Day-to-day decision-making relating to the charitable company's activities is delegated to the Elders of the church, who are responsible to the Trustees for the decisions they make.

Induction and training of new trustees

The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the governing document. No new Trustees were appointed this year. All trustees have read the HMRC Fit and Proper Persons guidance and have obtained clear enhanced DBS checks. All new and existing Trustees were given copies of The Essential Trustee document provided by the Charity Commission. The existing Trustees have continued to seek to appoint an additional female trustee but thus far haven't had anyone agree to the join the board.

Related parties

In order to achieve its aims Christ Church Mayfair has contributed towards the salary and housing costs of its Ministers, three of whom are employed by the Diocese. The Reverend Matthew Fuller has continued to be the Senior Minister. Reverend Scott Furey continued as curate until July 2023; he was replaced in August 2023 by Reverend Sam Stephenson. (Reverend Philip Allcock is an Assistant Minister with a licence at Christ Church Mayfair but is on the payroll of the charitable company.)

Christ Church Down Street was established as an ecclesiastical parish and a charity in its own right from 1st September 2019, but has no income to cover costs. Christ Church Mayfair has continued its activities based in the church and made a contribution towards the running costs of the Parochial Church Council, which has responsibility for the building, as without the building, the work would not be able to continue.

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CHRIST CHURCH MAYFAIR (REGISTERED NUMBER: 08246310)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems are in place to manage our exposure to the major risks. A risk register is maintained and reviewed at least annually. A Financial Controls policy was approved in June 2021 and will be reviewed annually.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

08246310 (England and Wales)

Registered Charity number 1152061

Registered office

The Church Office Christ Church Down Street Mayfair London W1J 7AN Trustees J C Davies H Gittins M A Magan O S Makin A L Malan

Auditors Hartley Fowler LLP Statutory Auditors Chartered Accountants 4th Floor Tuition House 27-37 St George's Road Wimbledon London SW19 4EU

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Christ Church Mayfair for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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CHRIST CHURCH MAYFAIR (REGISTERED NUMBER: 08246310)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued

In so far as the trustees are aware:

AUDITORS

The auditors, Hartley Fowler LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 25 September 2024 and signed on the board's behalf by:

H Gittins - Trustee

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CHRIST CHURCH MAYFAIR

Opinion

We have audited the financial statements of Christ Church Mayfair (the 'charitable company') for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CHRIST CHURCH MAYFAIR

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identify and assess risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud. In common with all audits we are also required to perform specific procedures to respond to the risk of management override.

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CHRIST CHURCH MAYFAIR

We also obtained an understanding of the legal and regulatory framework that the charitable company operates in. The key laws and regulations we considered in this context included the Charities Act 2011, UK Companies Act and tax legislation.

In addition we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the charitable company's ability to operate or to avoid a material penalty.

As a result of performing the above, we did not identify any key matters related to the potential risk of fraud or non-compliance with laws and regulations.

Our procedures to respond to risks identified included the following:

-performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

-reviewing minutes of meetings of those charged with governance, reviewing internal reports, and

-in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments, assessing whether the judgements made in making accounting estimates are indicative of a potential bias and evaluating the business rationale for any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indication of fraud or non-compliance with laws and regulations throughout the audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Jonathan Askew (Senior Statutory Auditor) for and on behalf of Hartley Fowler LLP Statutory Auditors Chartered Accountants 4th Floor Tuition House 27-37 St George's Road Wimbledon London SW19 4EU

9 October 2024

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CHRIST CHURCH MAYFAIR

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2023

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
Charitable activities
6
Ministry expenses
Weekends away
Outreach events
Other trading activities
4
Investment income
5
Total
EXPENDITURE ON
Charitable activities
7
Ministry expenses
Weekends away
Outreach events
Charitable expenses
Total
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
1,087,040
10,422
34,091
28,711
1,122
10,486
1,171,872
858,599
65,696
49,876
182,812
1,156,983
14,889
1,060,049
1,074,938		 Restricted
funds
£
411
-
-
-
-
-
411
-
-
-
-
-
411
53,853
54,264		 Year Ended
31/12/23
Total
funds
£
1,087,451
10,422
34,091
28,711
1,122
10,486
1,172,283
858,599
65,696
49,876
182,812
1,156,983
15,300
1,113,902
1,129,202		 Period
1/10/21
to
31/12/22
Total
funds
£
1,253,512
9,000
57,169
32,002
2,307
2,039
1,356,029
1,030,616
46,853
38,246
158,940
1,274,655
81,374
1,032,528
1,113,902

The notes form part of these financial statements

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CHRIST CHURCH MAYFAIR (REGISTERED NUMBER: 08246310)

BALANCE SHEET 31 DECEMBER 2023

Notes
FIXED ASSETS
Tangible assets
14
CURRENT ASSETS
Stocks
15
Debtors
16
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
17
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
18
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
fund
£
99,558
2,971
378,379
695,731
1,077,081
(101,701)
975,380
1,074,938
1,074,938		 Restricted
funds
£
-
-
-
54,264
54,264
-
54,264
54,264
54,264		 2023
Total
funds
£
99,558
2,971
378,379
749,995
1,131,345
(101,701)
1,029,644
1,129,202
1,129,202
1,074,938
54,264
1,129,202		 2022
Total
funds
£
115,380
2,156
459,077
573,462
1,034,695
(36,173)
998,522
1,113,902
1,113,902
1,060,049
53,853
1,113,902

The financial statements were approved by the Board of Trustees and authorised for issue on 25 September 2024 and were signed on its behalf by:

H Gittins - Trustee

The notes form part of these financial statements

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CHRIST CHURCH MAYFAIR

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023

Year Ended
31/12/23
Notes
£
Cash flows from operating activities
Cash generated from operations
1
172,299
Interest paid
(5,059)
Net cash provided by/(used in) operating activities
167,240
Cash flows from investing activities
Purchase of tangible fixed assets
(1,193)
Interest received
10,486
Net cash provided by/(used in) investing activities
9,293
Change in cash and cash equivalents in
the reporting period
176,533
Cash and cash equivalents at the
beginning of the reporting period
573,462
Cash and cash equivalents at the end of
the reporting period
749,995		 Period
1/10/21
to
31/12/22
£
(33,546)
(5,047)
(38,593)
(39,347)
2,039
(37,308)
(75,901)
649,363
573,462

The notes form part of these financial statements

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CHRIST CHURCH MAYFAIR

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023

1.
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
Year Ended
31/12/23
£
Net income for the reporting period (as per the Statement of
Financial Activities)
15,300
Adjustments for:
Depreciation charges
17,015
Interest received
(10,486)
Interest paid
5,059
(Increase)/decrease in stocks
(815)
Decrease/(increase) in debtors
80,698
Increase/(decrease) in creditors
65,528
Net cash provided by/(used in) operations
172,299
2.
ANALYSIS OF CHANGES IN NET FUNDS
At 1/1/23
Cash flow
At
£
£
Net cash
Cash at bank and in hand
573,462
176,533
573,462
176,533
Total
573,462
176,533		 Period
1/10/21
to
31/12/22
£
81,374
11,890
(2,039)
5,047
1,767
(115,782)
(15,803)
(33,546)
31/12/23
£
749,995
749,995
749,995

The notes form part of these financial statements

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CHRIST CHURCH MAYFAIR

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1. GENERAL INFORMATION

The charity is constituted as a charitable company limited by guarantee, registered in England and Wales.. The address of its registered office is The Church Office, Christ Church, Down Street, Mayfair, London, W1J 7AN. The registered number of the charity is 1152061, and the registered company number is 08246310.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

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.

Income from grants, donations and gifts, including gift aid income where applicable, is recognised when the charity has entitlement to the funds, any performance conditions attached to the donations or grants have been met, it is probable that the income will be received and the amount to 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.

The charity administers grants to individuals and organisations chosen by the charity in line with the objects of the charity. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. 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.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both direct costs and those costs of an indirect nature necessary to support them.

Governance costs

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the Charity and include the audit fee and costs linked to the strategic management of the Charity.

Tangible fixed assets

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

Short leasehold - 20% on cost Kitchen - Straight line over 20 years Fixtures & fittings - 20% on cost Church equipment - 33% on cost and 20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

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

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CHRIST CHURCH MAYFAIR

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Fund accounting

General funds are unrestricted funds which are available for us at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

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.

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

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.

Voluntary help

A significant amount of time is expended on the charity's activities which is donated free of charge. It is not possible to quantify the value of time given and accordingly it is neither recorded as donated income nor as an expense in the financial statements.

Cash at bank

Cash at bank includes bank deposit accounts and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Debtors

Trade and other debtors are recognised at the settlement amount due. Prepayments are recognised at the invoiced cost prepaid.

Creditors

Creditors are recognised when the charity has a present obligation resulting from a past events that will probably 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 normally recognised at the settlement amount.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Government grants

Government grants are recognised when the entity has reasonable assurance that conditions attached to the grant will be complied with and that the grant will be received.

Revenue grants are recognised using the accrual model and are therefore recognised as income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Revenue grants are measured at fair value, being the amount of cash receivable.

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CHRIST CHURCH MAYFAIR

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

----- Start of picture text -----
3. DONATIONS AND LEGACIES
Period
1/10/21
Year Ended to
31/12/23 31/12/22
£ £
Gifts and donations 918,290 1,017,102
Gift aid 169,161 209,177
Grants - 27,233
1,087,451 1,253,512
4. OTHER TRADING ACTIVITIES
Period
1/10/21
Year Ended to
31/12/23 31/12/22
£ £
Bookstall income 1,122 2,307
5. INVESTMENT INCOME
Period
1/10/21
Year Ended to
31/12/23 31/12/22
£ £
Deposit account interest 10,486 2,039
6. INCOME FROM CHARITABLE ACTIVITIES
Period
1/10/21
Year Ended to
31/12/23 31/12/22
Activity £ £
-
Income from special events Ministry expenses 2,022
Contributions to rent Ministry expenses 8,400 9,000
Weekends away Weekends away 34,091 57,169
Midweek in Mayfair Outreach events - 10,131
Income from special events Outreach events 28,711 21,871
73,224 98,171
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CHRIST CHURCH MAYFAIR

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

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7. CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities Support
Direct (see note costs (see
Costs 8) note 9) Totals
£ £ £ £
-
Ministry expenses 680,168 178,431 858,599
- -
Weekends away 65,696 65,696
Outreach events 49,876 - - 49,876
- -
Charitable expenses 182,812 182,812
795,740 182,812 178,431 1,156,983
8. GRANTS PAYABLE
Period
1/10/21
Year Ended to
31/12/23 31/12/22
£ £
Charitable expenses 182,812 158,940
The total grants paid to institutions in the year was as follows:
2023 2022
£ £
AIM International 12,700 5,000
Arab World Ministries 11,000 10,000
BCMT Ltd 2,300 5,400
Beacontree Church 10,000 -
Christ Church Down Street - 8,805
Co-Mission Initiative Trust 47,766 40,685
-
Co-Mission - Slavic appeal 3,000
Crosslinks 500 -
-
European Christian Mission - Britain 2,500
-
European Missionary Fellowship 3,000
France Mission 6,600 6,000
Gospel Partnership London 500 250
Imperial College Union - 400
Living Word International 13,500 4,000
-
London City Mission 3,000
Overseas Missionary Fellowship 5,500 5,000
Pioneers UK Ministries Mission in Central London 2,500 2,500
-
St Augustine's Wembley 13,463
Tamar 5,000 10,000
Truth Gospel Ministry 2,383 14,430
University and Colleges Christian Fellowship 4,400 4,000
UFM Worldwide 27,500 25,000
Total 174,112 144,470
----- End of picture text -----

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CHRIST CHURCH MAYFAIR

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

9. SUPPORT COSTS

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |Governance| |Management|Finance|Other|costs|Totals| |£|£|£|£|£| |Ministry expenses|125,812|17,482|27,175|7,962|178,431|

----- End of picture text -----

Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute directly to more than one activity are apportioned between those activities. Support costs which are not attributable to a single activity are apportioned between the activities being supported.

Support costs, included in the above, are as follows:

Management

----- Start of picture text -----
|||| |---|---|---| |Period| |1/10/21| |Year Ended|to| |31/12/23|31/12/22| |Ministry|Total| |expenses|activities| |£|£| |Wages|58,383|78,776| |Social security|6,069|8,077| |Pensions|7,110|11,607| |Central admin and sundry costs|38,710|38,375| |Accountancy|15,540|12,800| |125,812|149,635| |Finance| |Period| |1/10/21| |Year Ended|to| |31/12/23|31/12/22| |Ministry|Total| |expenses|activities| |£|£| |Bank charges|467|478| |Depreciation of tangible fixed assets|17,015|11,890| |17,482|12,368| |Other| |Period| |1/10/21| |Year Ended|to| |31/12/23|31/12/22| |Ministry|Total| |expenses|activities| |£|£| |Recharged costs|27,175|44,601|

----- End of picture text -----

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CHRIST CHURCH MAYFAIR

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

9. SUPPORT COSTS - continued Governance costs

SUPPORT COSTS - continued
Governance costs
Auditors' remuneration
Auditors' remuneration for non audit work		 Period
1/10/21
Year Ended
to
31/12/23
31/12/22
Ministry
Total
expenses
activities
£
£
3,300
3,150
4,662
2,200
7,962
5,350
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Auditors' remuneration
Auditors' remuneration for non audit work
Depreciation - owned assets		 Period
1/10/21
Year Ended
to
31/12/23
31/12/22
£
£
3,300
3,150
4,662
2,200
17,015
11,890

10. NET INCOME/(EXPENDITURE)

11. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the period ended 31 December 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the period ended 31 December 2022.

12. STAFF COSTS

Year Ended
31/12/23
£
Wages and salaries
340,799
Social security costs
18,563
Other pension costs
27,386
386,748		 Period
1/10/21
to
31/12/22
£
417,423
24,699
44,958
487,080

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CHRIST CHURCH MAYFAIR

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

12. STAFF COSTS - continued

The average monthly number of employees during the year was as follows:

Period
1/10/21
Year Ended
to
31/12/23
31/12/22
Ministry staff
10
13
Administration staff
2
2
12
15

No employees received emoluments in excess of £60,000.

The key management personnel compensation during the year was £44,630 (2022 fifteen month period: £54,609).

13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Ministry expenses
Weekends away
Outreach events
Other trading activities
Investment income
Total
EXPENDITURE ON
Charitable activities
Ministry expenses
Weekends away
Outreach events
Charitable expenses
Total
NET INCOME
Transfers between funds
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
1,225,279
9,000
57,169
21,871
2,307
2,039
1,317,665
993,219
46,853
38,246
158,940
1,237,258
80,407
16,616
97,023
963,026
1,060,049		 Restricted
funds
£
28,233
-
-
10,131
-
-
38,364
37,397
-
-
-
37,397
967
(16,616)
(15,649)
69,502
53,853		 Total
funds
£
1,253,512
9,000
57,169
32,002
2,307
2,039
1,356,029
1,030,616
46,853
38,246
158,940
1,274,655
81,374
-
81,374
1,032,528
1,113,902

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CHRIST CHURCH MAYFAIR

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

----- Start of picture text -----
14. TANGIBLE FIXED ASSETS
Short Fixtures
leasehold Kitchen & fittings
£ £ £
COST
At 1 January 2023 81,909 31,219 3,259
Additions - - 1,183
At 31 December 2023 81,909 31,219 4,442
DEPRECIATION
At 1 January 2023 24,008 8,802 2,879
Charge for year 5,649 2,439 439
At 31 December 2023 29,657 11,241 3,318
NET BOOK VALUE
At 31 December 2023 52,252 19,978 1,124
At 31 December 2022 57,901 22,417 380
Church Office
equipment equipment Totals
£ £ £
COST
At 1 January 2023 38,690 11,534 166,611
Additions 10 - 1,193
At 31 December 2023 38,700 11,534 167,804
DEPRECIATION
At 1 January 2023 6,178 9,364 51,231
Charge for year 7,196 1,292 17,015
At 31 December 2023 13,374 10,656 68,246
NET BOOK VALUE
At 31 December 2023 25,326 878 99,558
At 31 December 2022 32,512 2,170 115,380
15. STOCKS
2023 2022
£ £
Finished goods 2,971 2,156
----- End of picture text -----

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CHRIST CHURCH MAYFAIR

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

----- Start of picture text -----
16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Other debtors 184,290 151,061
Due from related charity 177,180 292,991
Prepayments and accrued income 16,909 15,025
378,379 459,077
17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 15,526 24,557
Social security and other taxes 9,122 6,266
Accrued expenses 77,053 5,350
101,701 36,173
18. MOVEMENT IN FUNDS
Net
movement At
At 1/1/23 in funds 31/12/23
£ £ £
Unrestricted funds
General fund 1,060,049 14,889 1,074,938
Restricted funds
Deacons' Fund 50,975 411 51,386
-
Building project 2,878 2,878
53,853 411 54,264
TOTAL FUNDS 1,113,902 15,300 1,129,202
Net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 1,171,872 (1,156,983) 14,889
Restricted funds
Deacons' Fund 411 - 411
TOTAL FUNDS 1,172,283 (1,156,983) 15,300
----- End of picture text -----

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CHRIST CHURCH MAYFAIR

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

18. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Restricted funds
Kitchen fund
Webber St Property fund
Deacons' Fund
Building project
TOTAL FUNDS		 At
1/10/21
£
963,026
16,616
33
49,975
2,878
69,502
1,032,528		 Net
movement
in funds
£
80,407
-
(33)
1,000
-
967
81,374		 Transfers
between
funds
£
16,616
(16,616)
-
-
-
(16,616)
-		 At
31/12/22
£
1,060,049
-
-
50,975
2,878
53,853
1,113,902

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

Unrestricted funds
General fund
Restricted funds
Midweek in Mayfair
The Bridge Battersea
Webber St Property fund
Church Plants Fund
Deacons' Fund
TOTAL FUNDS		 Incoming
resources
£
1,317,665
10,131
983
-
26,250
1,000
38,364
1,356,029		 Resources
expended
£
(1,237,258)
(10,131)
(983)
(33)
(26,250)
-
(37,397)
(1,274,655)		 Movement
in funds
£
80,407
-
-
(33)
-
1,000
967
81,374

Midweek in Mayfair

This fund represents a grant received towards the cost of employment of the Midweek in Mayfair staff.

Kitchen fund

The Kitchen fund represents specific donations made to the charity for the refurbishment of the kitchen at Christ Church Mayfair.

The Bridge Battersea

This fund represents a grant received to contribute towards the funding of the ministry costs of The Bridge Battersea.

Webber St Property fund

The fund represents donations made towards the purchase of a new property.

Church Plants fund

This fund represents a grant received from London Diocese to contribute towards the funding of the ministry costs of a church minister with the intention that that minister would lead a church plant from Christ Church Mayfair

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CHRIST CHURCH MAYFAIR

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

18. MOVEMENT IN FUNDS - continued

Deacons' fund

This fund exists to support members of the church family who find themselves in needs at any time.

Building project

Funds for a building project to create more rooms, particularly for Sunday School, and to improve disabled access.

19. RELATED PARTY DISCLOSURES

On 1st October 2018 the activities, assets and liabilities of The Bible Talks (TBT), a charity registered in England and Wales under charity number 1092036, were transferred to Christ Church Mayfair (CCM) by virtue of a deed of transfer.

TBT continues to hold the properties and their related mortgages in trust on behalf of CCM. All of the costs relating to the properties and ancillary expenses are borne by CCM. At the year end there was a balance of £177,180 (2022: £292,991) due from TBT to CCM and the total costs recharged in the year amounted to £27,175 (2022: £46,521).

20. LIMITED BY GUARANTEE

The company has no share capital. Every member of the company undertakes to contribute to the assets of the company, in the event of the same being wound up while he is a member, or within one year after he ceases to be a member, for payments of the debts and liabilities contracted before he ceases to be a member and of the costs, charges and expenses of winding up and for the adjustment of the rights of the contributories among themselves, such amounts as may be required not exceeding £10.

-22-