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REGISTERED COMPANY NUMBER: 08246310 (England and Wales) REGisfERED CHARZTY NUMBER: 1152061 REPORT OF THE TRiisfEES AND AUDrrED FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FOR CHRIsf CHURCH MAYFAIR Haruey Fowler LLP statutory Audltors Chartered Accountsnts 4th Floor Tuition House 27-37 st Gecge.5 Road Wimbledon L(mdon SW19 4EU
CHRIST CHURCH MAYFAIR coNrENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Page Report of the Trustees I to 4 Report of the Independent Audito 5 to 7 Statsrnent of Flnanclal Activltles Balan Sheet Cjsh Flow Statement io Notes to the C•5h Flow Statement li Notes to the Financtal Statements 12 to 22
CHRIsf CHURCH MAYFAIR (REGISTERED NUMBER: 08246310) REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 DECEMBER 2024 trustees wh) are also directors of the charity for the purposes of the Companies Act 2006, pret their report with the finanoal statements of the charity for the year ended 31 DecemLr 2024. The trustees have adopted the prowsions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparirwJ their accounts in acccydance with the Financial Reporting Stsndard applicable in the UK and Republic of Iland (FRS 102) (effecbve l January 2019). OBJEcfIvES AND AcnvrrIES Objectives and aims The charitsble company Chri& Church Mayfair was incorporated as a vehicle to tske over the ivitie5 of The Bible Talks. The transfer took place on 1st October 2018 by virtue of a deed of transfer. The tharity was estsblished to advan the Chri&ian faith and its main activity is the promsion of Christian teaching at Christ Church, Mayfair in London. The charity's objects are: l. To advance Christian religion for the benefrt of the publlc in accordance with the dortrines of the Church of England. 2. The prevention or relief of poverty in the world by providing grants, items and Servi to individuals in n&d and or other charities or other organisations working to prevent or relieve povety. Significant actlvttles Our wsion is to make disoples of Jesus Christ by seeking to encourage believers to grow in maturity, seThe in ministry and go in mission to reach those who dont know Christ. We seek to build community and attract newcomers to the church through Mo Sunday 5ervice5 and a variety of midweek activities. The church had normal attivities over the pericrfj covered by th&se accounts.. in person bibte studies In church and In homes around the city and regular Sunday servi. We continued the livestreaming of Servi5, which enable5 those unable to attend through illness or absence keing able to still parkncipate in church and, we have found, as a way of newcomers experiencing something of our church before attending in Ferson. Most of the church family however attend physically, including a significant number of newcomers which we are grateful for. Over the period the church hosted a number of events and talks to whlch church famlly members could Invite friends and family Interested in exploring the Chnstian faith. The church also organised Christianity Explored and Honest Qu*ions, two courses that have a slmilar aim. We are grateful that volunteers with Tamar, an antitrafflcking group working in the local communlty to reach out to traffKk women in the sex trade, were able to continue their visits to women. We are also grateful that volunteers with Webber Street, a day center for people who are homeless, were able to conts'nue to help meet the emotional, swritual and physical needs of the beneficiaries. CCM'S suppjrt of Midweek in Mayfair, a lunchtirne mting for l¢xzl business people, has continued. With only IM intems remaining for the academic year commencing I September 2024, the church decided to recruit a part-time verger to cover many of the pradical tasks covered in other years by interns e.g. opening up, setting up and l¢xking up for meetings, dealing with contractors etc. Grantrnaking and trnining The charity continues to provide support for a number of individuals and organizations outside the church. This included finanoal supwrt for Feople involved in Christian ministry and trainiw bjth within the UK and abroad, as well as gifts to Christian organizations in the UK supwrbng workers here and ovtrseas. A hardship fu1 (the Deacons, Fund) has bn a great bles9ng to many in the church family who have found themselves in financial hardship. thurch family memtrErs who could afford to do so have given generously to this end and those in need were able to apply fo a glft or loan. The process was carefully monitored by the tkacons: Jal Quinn, SLsie Dye. Adrian Valeriano and Jo Duckering. CCM would Ilke to continue giving volunteers the opportunity extAore minisby and gain some thwlogical training wth a view to potentially going into this in a fvll-time paid capaoty and intends to make grants available to men and women to te able to do this as vdunteers going foMard.
CHRIST CHURCH MAYFAIR (REGISTERED NUMBER: 08246310) REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 DECEMBER 2024 OBJEcfivES AND ACTIvrrxES Volunteers We continue to be dependent on a large number of volunteers to run the aLtivities of the charity and are very grateful for all their flexibility and time in a huge variety of roles including SuTrJay SchoKJl teachers, Bible study leaders, musicians for Sunday servKes, welcomer5 & stewards and Deacons. The staff team have provhled a lead and sUPPQrt, but it is no exaggeration to say that the ministy of church could not have taken place without a huge, servant-hearted team of church family members. srRATEGIC REPORT Reserves policy Christ Church Mayfair endeavours to maintain suffKient re5eNes to manage ongoing cashflow requirements in line with the recommendation of the Charity Commission. The Ststement of .ancial Activities is set out in this report and shows at the end of the year the total reserves held amounted to £1,316,683. srRucfuRE, GOVERNANCE AND MANAGEMErir Governing document The charity was estsblished to advance the Christian faith through Christian teaching at Chrlst Church, Maffalr in London. The charlty originally operated as an unincorporated charity, The Blble Talks, reglstered charity number 1092036, controlled by Its govemlng document, a Trust Deed, dated 4 November 2001 as amended by a Supplementsl Deed dated 14 April 2002. On 1st Ociobu 2018 the assets and undertakings of the unincorpjrated charlty's were tranSferd to Christ Church Mayfair, charitable company limited by guarantee, registered in England and Wales {compary number 08246310) and registered wlth the Charity c1miSsIon under charity number 1152061. At the date of the transfer the unincorporaled charity had loans secured against the freehold properties held by it. The charitsble company conb'nues to cover the cost of Tnaintenance of one property held by The Bible Talk5 whlch is used to house the Senior Minister. OryanisJtlonal structure The Trustees meet at least a year to review all aspects of the charitsble company's activities, including FInanS. Day-to-day decision-makn'ng relating to the charitsble company's artivities is delegated to the Elders of the church, who are responsible to the Trustees for the decisions they make. Inductlon and trainino of new trustees The management of the charity is the re5ponsiblllty of the Trustees who are elected and co-gpted under the terms of the governing d¢xument. No new Trustees were appointed thls year. All trustees have read the HMRC Fit and prOr Persons guidance and have obtalned clear ernhand DBS checks. All new and existing Trustees were given coples of The Es5entlal Trustee document provided by the Charity Commisslon. Related partie$ In order to achieve its aims Christ Church Mayfair has contributed towards the salary and housing costs of its Ministers, I0 of whom are employed by the Diocese. The Reverend Matthew jIler has conts'nued to be the Senior Minister and Samuel Stephenson as Curate. (Reverend Philip Allcock is an Assistant Minister with a licence at Christ Church Mayfair but is on the payroll of the tharitsble company.) Christ Church Down Street was established as an ecdesiastical parish and a charity in its own right from 1st September 2019, but has rK) income to cover costs. Christ Church Mayfair has made a contribution towards the running costs of the Parochial Church Council, which has responsibility for the buildingi as without the building, the work would not be able to continue. Risk management The Trustees have assessed the major risks to which the charity is expowj, in particular those related to the operations and finances of the charity, and are satisfied that Wems a in to manage our exposure to the major risks. A risk register is maintsined and reviewed. A Financial Controls policy was approved in June 2021 and will be reviewed in 2025. REFERENCE AND ADMINIsfRATIVE DETAILS Registered Company number 08246310 (England and Wale5) Registered Charity number 1152061
CHRIST CHURCH MAYFAIR (REGISTERED NUMBER: 08246310) REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 DECEMBER 2024 Registered office The Church Offi Christ Church Down Stret Mayfair London WIJ 7AN Trustees J C Davies H Gittins M A Magan O S Makin A L Malan Audltors Hartley FOer LLP ststutory Auditors Chartered Accwntants 4th Floor Tults'on House 27-37 St George's Road Wimbledon London SW19 4EU srATEMENT OF TRusfEES' RESPONSIBILrriES The trustee5 (who are also the directors of Christ Church Mayfair for the pUrySeS of company law) are responsible for preparing the Report of the Trustees and the fnanCIal statements in accordance wlth applicable law and United Kingdom Accounting Stsndards (United Kingdom Generally Accepted Accounting Practi) including Finanaal Reporting Standard 102 'The Finanaal Reporting Standard applicable in the UK and Republic of Ireland" Cornpany law requires the trustees to Prepa financial statements for &ich finanaal year which glve a true and fair view of the stste of affairs of the charitable company and of the incoming resour and application of resources, including the income and expenditure, of the charitsble company for that period. In preparing those financial statements, the trustees are required to select suitatje accounting pollcles and then apply them con5iStendyi obseNe the methods and principles in the Charity SORP; make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subj'ect to any material departures discbsed and explalned in the financial statements,. prepare the financial ststeTnents on the golng COnM basls unless it Is Inappropriate to presume that the charitsble company wlll continue in busine5S. The trustees are responsible for keeplng proper accounting records whlch disclose with reasonable accurKy at any time the flnancial ption of the charitable cornpany and to enable them to ensure that the financial staternents comply with the cnpanieS Att 2006. They are also responsible for safeguarding the assets of the charitable company and hen for tsklng reasonable 5tep5 for the prevention and detection of fraud and other irregularities. In so for as the trust5 are aware: there is no relevant aud information of which the charitabk company's audltors are unaware. and the trustees have tsken all steps that they ought to have tsken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. AUDrn)RS The auditors, Hartley FOer LLP, will be prcposed for re-apwintmert at the forthcoming Annual General Meeting.
CHRIST CHURCH MAYFAIR (REGIsfERED NUMBER: 08246310) REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 DECEMBER 2024 Repjrt of the trustees, incorporatlng a strat8Jic repc¢ approved by order of the board of trustee5, as the company dIrls, on 16 June 2025 and ggned on the board'5 behalf by: H Gittins - Trustee
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 Dember 2024 which comprise the Ststement of Finanaal Activities, the Balance Sheet, the Cash Flaw Ststement arK1 notes to the financial statements. including a Summary of signiftant accounting poliaes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounb"ng Standards (United Kingdom Generally Accepted Accounting practi), includin9 Financial Reporting Stsndard 102 The Financial Reporting Stsndard applicable in the UK and Republic of Ireland,. In our opinion the finanaal statements., give a true and fair view of the state of the charrtable company's affairs as at 31 December 2024 and of ts incoming reur and application of resources. including its income and eXFErWJUre, for the year then ended. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Prattice, including Finanaal Repotting Standard 102 'The Financial Reporfong Stsndard applicable in the UK and Republic of Ireland and have been prepared in accordan with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISA5 (UK)) and applicable law, Our reSnSibIlitieS under those standards are further described in the Auditors, responsibilities for the audit of the financial ststements settion of our report. We a independent of the charitsble company in accordance with the ethical requirements that are relevant to our audit of the financial ststernents in the UK, including the FRCS Ethical Standard, and we have fulfilled our other ethical responsibilities in accordantr with these requirements. We believe that the audit evidence we have obtsined is suffioent and appropriate to provide a basis for our opinlon, Conclusions relatlng to golng concern In auditing the financial statements, we have concluded that the trustees, use of the golng cOnM basls of accoundng In the preparation of the financial statements Is appropriate. Basecl on the work we have performed, we have not identified any material UnrtaIntieS relating to events or conditions tha¢ Individually or collectively, may cast significant doubt on the tharitable company's ability to continue as a going COnM for a period of at least e1ve months from when the financial statements are authorised for issue. Our reswnsibilities and the respjnsibilities of the trustees with resFect to going Canrn are described in the relevant sections of this report. Other inforniatlon The trustees are responsible for the other infomatlon. The other infomiatlon comprises the Information Included in the Annual Report, other than the finanaal statements and our Report of the Independent Auditors theffton. Our oplnlon on the financial ststements d$ not cover the other inf0mtIon and, except to the extent otherwise explicltly stated in our report, we do not expres5 any form of assurance condusion theyeon. In connection with our audlt of the financial statements, our responsibility is to read the other informatSon and, in doing so, consider whether the other information is materialty inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misststed. 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 condude that there is a material misstatement of this other information, we are requir& to report that fact. We have nothing to report in this regard. Oplnions on other matters prescribed by the Companies Act 21x16 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements. and the Repjrt of the Trustees has been ppared in accordantr with applicable legal requirements.
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 charitsble company and its environment obtained in the course of the audit, we have not identified material misststements in the Rewrt of the Trustees. We have nothing to report in respect of the following matters where the Ccmpanies Act 2006 requires us to rep)rt to yw ff, in our opinion: adequate accounting records have not been kept or returr6 adequate our audit have not been received from branches not visited by us. or the financial statements are not in agreement with the accounting records and retums. rtain disclosures of trustees, remuneration specified by law are not made. or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained rne fully in the Ststement of TrLbStees' Responsibilities, the trustees (who are also the directors of the charitable company fLY the purposes of company law) are responsible fv the preparation of the financial statements and for being satisfEd that they give a true and fair view, and for such internal control a5 the trustees determine is necessary to enable the preparatlon of flnanclal statements that are free from materfal misstatemenL whether due to fraud or error. In preparing the financlal statsments, the trustees are respJnsible for assessirvj the charitable company's ability to continue as a going conrn, disclosing, as applicable, matters related to going concem and using the going concern basis of accounting unless the trustees either intend to liquidate the charitsble company or to se operations, or have no realistic altemative but to do so. Our responsibllities for the audlt of the financial statements Our objectives are to obtain reasonable assuran about whether the financial ststements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent AudTtors that includes our opinion. Reasonable assurance Is a high level of aSSurae, but Is not a guarantee that an audlt condutted in accordance with ISAS (UK) will always detect a material misstatement when it exlst& Misstatements can arise from fraud or error and are considered material individually or in the aggregate, they could reasonably be expected to Influen the economic decisions of users taken on the basis of these financial ststements. We identify and assess risks of material misststement of the finanaal ststements, whether due to fraud or error, and then design and perform audit prOdureS responswe to those risks, includlng obtsining audit evidence that is sufficient and appropriate to provide a basis for our opinion. In 1dentl-ng and assessing risks of materlal misstatement in rwect of irregularlties, including fraud and on-comp11an with laws and regulats'ons, we considered the following.. the nature of the industry and sector, control environment and the charities activities; results of our enquiries of management about their own identification and assessment of the risks of irregularities. any matters we identified having obtained and reviewed the charitable company's documentation of their pollcles and procedures; identifying, evaluating and complying wlth laws and regulation5 and whether they were aware of any Instan5 of non-compliance; detecting and responding to the risks of fraud and whetr they have knowledge of any actual, suspected or alleged fraud; the intemal contro15 established to mitigate risls of fraud or non-ComplnCe with laws and regulations; and the mattws dlscussed among the audlt engagement team regarding how and where fraud mi9ht occur In the finandal statements and any PDtential indicators of fraud. As a result of these prUres. we considered the opportunibes and InntIveS that may exist within the organlsatlon for fraud. In common with all audits we are also required to perfrn 5pEcifK prdureS to respond to the risk of management overrsde. We also obtained an understanding of the legal and regulatory framework that the tharitable company operates in. The key laws and regulations we considered in this context included the Charities Act 2011, UK Companies Att and tax legislation. In addition we considered provision5 of other laws and regulations that do not have a dirett effect on the financial statements but Complian with which may be fundamental to the charitsble company's abiSity to operate or to avoid a material penalty.
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CHRIST CHURCH MAYFAIR As a result of perfomiing the at(Jve, we did not identify any key matters related to the wtential risk of fraud or non-complian with laws and regulations. Our procedures to respond to risks identified included the following: remewing the financial statement disclosures and testing to Suprting dcKumentation to assess compliance with provision of relevant laws and regulations descrited as having a direct effecL on the financial statements,. -enquiring of management Conrning actual and potential litigation and claims; -performing analyb'cal procedures to identify any unusual or unexpeLted relationships that may indicate risks of material misstatement due to fraud,. -revIeng minutes of meetings of those charged with wvemance, reviewing internal reports, and -in addressing the risk of fraud through management override of controls, tests'ThJ the appropriateness of joumal entries and other ad]ustments, assessing whether the judgements made in making accounts'ng estimates are indicative of a wtential bias and evaluating the business rationale for any significant transaL*ons that are unusual or outside the normal course of business. We also commufticat relevant Identified laws and regulations and pjtential fraud rlsks to all engagement team memer5 arKI remained alert to any indication of fraud or non-compliance Mthlaws and regulations throughout the audit. A further description of our responsibillties for the audlt of the finandal statements is located on the Financlal ReFQrting Council's website at W,frc,Org.Uklaudlt0r5reSpon5lb1lltle$. This descripts'ffi forms part of our Ret of the Independent Auditors. U9e of our report This report is made solely to the charitable company's memters, a5 a tK)dyi in accordance with Chapter 3 of Part 16 of the Companie5 Act 2006. Our audit work has been undertaken so that we might state to the charitable company's memtsers 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 companvs members as a body, for our audit work, for thi5 reporL or for the opinions we have formed. Jonathan skew (Senio for and on behalf of H ststutory Auditors Chartered Accountants 4th Floor Tuition House 27-37 St George's Road Wimbledon London SW19 4EU lutory Auditor) ey Fowler LLP Date,, f/q/........... ,..,.
CHRIST CHURCH MAYFAIR STATEMENT OF FINANCIAL AcrivrriES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2024 2024 Total funds 2023 Total fuThJs Unrestritted fund Restricted funds Note5 INCOME AND ENDOWMENTS FROM t>)nations and legacies 1,44,798 1.000 1,445,798 1,087,451 tharitsble activities Ministry expenses Weekends away Outreach events 3,124 44,653 25,560 3,124 44,653 25,560 10,422 34,091 28,711 Other trading activities Investrnent income 2,184 10,999 2,184 10,999 1,122 10,486 Totsl 1,531,318 1,000 1,532,318 1,172,283 EXPENDrnIRE ON Charitable activities Ministy expenses Weekends away Outreach events Charitsble expenses 1,087,712 67,630 53,8CKI 135,395 1,087,712 67,630 53.800 135,695 858,599 65,696 49,876 182,812 300 Total 1,344,537 300 1,344,837 1,156,983 NET INCOME 186,781 700 187,481 15,300 RECONCILIATION OF FUNDS Total funds brought forward 1,074,938 54,264 1,129,202 1,113,902 TOTAL FUNDS CARRIED FORWARD 1,261,719 54,964 1,316,683 1,129,202 The note5 form part of these financSal 5t3tements
CHRIST CHURCH MAYFAIR (REGISTERED NUMBER: 08246310) BALANCE SHEEr 31 DECEMBER 2024 2024 Total funds 2023 Total funds Unresblcted fvnd Restricted funds Notes FIXED ASSErs Tangible assets 14 83,483 83,483 99,558 CURRENT Assrrs stocks Debtors Cash at bank and In hand 15 16 2,971 677,403 527,233 2,971 677,403 582,197 2,971 378,379 749,995 54,964 1,207,607 54,964 1,262,571 1,131,345 CREDrroRS Amounts falling due within one year 17 (29,371) (29,371) (101,701) NET CURRENT ASSETS 1,178,236 54,964 1,233,2 1,029,644 TiyfAL ASSETS LESS CURRENT LIABILrrIES 1,261,719 54,964 1,316,683 1,129,202 NEf ASSETS 1,261,719 54.964 1,316,683 1,129,202 FUNDS Unrestritted funds Restrlcted funds 19 1,261,719 54,964 1,074,938 54,264 TOTAL FUNDS 1,316,683 1,129,202 The finanaal ststements were approved by the Board of TnjstS and authwlsed for issue on 16 June 2025 and were slgned on Its behalf by: H Gittin5 - Trustee The notes part of these financial ststemwts
CHRIST CHURCH MAYFAIR CASH FLOW sfATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Notes Cash flows from operating activities Cash generated from operations Interest paid (170,244) (8,553) 172,299 (5,059) Net cath (used in)Iprovided by operating actmties (178,797) 167,240 Cash flows from Investing Jrtivities Purchase of tangible fixed a55ets Interest recelved (1,193) 10.486 ID,999 Net cash provided by Invesng artlvities 10,999 9,293 Change in cJsh and cash equlvalents in the reporting perlod Cash and cash equivalents at the beginning of the reporting perlod (167,798) 176,533 749,995 573,462 Cash and cash equivalents at the end of the reporting perlod 582,197 749,995 The note5 form parfc cl these financial statements -io-
CHRIST CHURCH MAYFAIR NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 RECONCILIATION OF NET INCOME TO NEf CASH FLOW FROM OPERATING AcfivrnES 2024 2023 Net income for the reporting period (as per the Ststement of Financial Activities) Adjustments for: Depreciation charges Interest received Interest paid Increase in stocks (Increa5e)Idecrease in debtor5 (Decrease)lincrease In cdItorS 187,481 15,300 16,075 (10,999) 8,553 17,015 (10,486) 5,OS9 (815) 80,698 65,528 {299,024) (72,330) Net ash (used In)Iprovided by operatlo (17Q,244) 172,299 ANALYSIS OF CHANGES IN NEf FUNDS At 111124 CBsh flow At 31112124 Net cash Cash at bank and In hand 749,995 (167,798) 582,197 749,995 (167,798) 582,197 Totsl 749,995 (167,798) 582,197 The notss frym part rfthese financial ststements
CHRIST CHURCH MAYFAIR NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 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, WIJ 7AN. The registered number of the charity is 1152061, and the registered ccxnpany numter is 08246310. AccouKfING 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 wf(h the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Ststement of Recommended Prattl applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable In the UK and Republic of [land (FRS 102) (effective l January 2019),, Financial Reporting Stsnéard 102 'The Finanoal Reporting Standard applicable in the UK and Republk of Ireland, and the Companies Act 2006. The financial statements have been ppared under the historical cost convention. Income All income 15 recognised in the Ststement of Finanaal Actr'vtties On the charity has enbtlement to the funds, It is probable that the income will be received and the amount can be measured rdiably. Income from grants, donations and gifts, including gift aid income where applicable, is recogni5ed when the charity has entiuement to the funds, any performantr 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 construrtive obligation committiryj the charity to that expenditure, it is probable that a trarsfer of economic nefits will be required in settlement and the amount of the obligats'on can be measured reliably. Expenditure is acccunted for on an accruals basis and has been clasgfied under headings that aggregate all cost related to the category. whe co*s cannot be directly attributed to particular headings they have been allocated to artivities on a basis consistent with the use of resources, The charity administers grants to individuals and organisation5 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 COndlOn5 which have not been met at the year end date are noted as a commitment but not accrued as expenditure. Charitable actlvitles Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneftiaries. It includes both dirert costs and those costs of an indirert nature necessary to support them. Governance costs Governance costs Include those costs associated wlth 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 a55ets Depreciation is provided at the following annual rates in order to write off each asset over its estlmated useful life. Short leasehrjd Kitchen Fixtures & fittings Church equipment 200kn on c05t Straht line over 20 years 20% on cost 33Vo on cost and 20010 on cost stocks Stocks are valued at the lower of cost and net realisable value, after rnaking due allowance for obsolete and slow moving items. Tation The charity is exempt from corporation tsx on its charitable activitie5. -12-
CHRIsf CHURCH MAYFAIR NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 AccourirING POUCIES- continued Fund accountlng General funds are unStrICted funds which are available for us at the discretion of the Trustees in furtheran of the general obj'ettives of the charity and which have not been designated for other purwses. Restrirted funds can only i used for paCUlar restr[rtl purpJses thin the objetts of the charity. Restrictions arise when specified by the donor or when funds are raised for parkncular trIcted purrK6es. 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 rateS a defined contributlon pension scheme. Contributions payable to the charltable company's per&on stheme are charged to the Statement of Financial Artivities In the pwic#J to which they relate. Voluntsry help A significant amount of time is expended on the charity's actlvStles 1th Is donated free of tharge. It Is not wssible to quantify the value of Ome given and accordlngly it is nelther recorded as donated income ncf as an expense in the financial ststements. Cash at bank Cash at bank indudes bank dewsit accounts and short term highly liquid Investments with a short maturity of three months or le55 from the date of acquisition or opening of the deposit or similar account. Debtors Trade and er debtors are rec(>9nised at the settlement amount due. Prepayments are recognised * the invclced cost prepaid. Creditors Creditors are rtrognised when the charity has a present obloation resultsro from a past events that wlll probably result In the transfer of funds to a third paty and the amount due to setde the obligation can be measured or ests'matsj reliably. Creditors are nwnally recognised at the settlemert amount. ImpJlrnient Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balan sheet date. If such indKation exists, the recoverable amount of the asse¢ or the asset% cash generating unit, is estimated and compared to the carryirvJ amount. Where the carryng amount exceeds its recoverable amount, an impairment lo is recognised in profit or loss unless the asset is carried at a revalued amount where the Impaimient loss is a revaluation decrease. Government orants )vernment grants are rec(>Jnised when the entity has reasonable assurance that condidons attached to the grart wlll te complied with and that the grant will be received. Revenue grants are recognised using the accrual mryjd and are therefore recognised a5 income on a systematic basls ¢)ver the Fenods 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 amwnt of cash receivable. -13-
CHRIST CHURCH MAYFAIR NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 DONATIONS AND LEGACIES 2024 2023 Gifts and don*ions Gift aid Grants 1,178,125 209,885 57,788 918,290 169,161 1,445,798 1,087,451 OTHER TRADING AcmirrIES 2024 2023 B(MJkstall income 2,184 1,122 INVESTMENT INCOME 2024 2023 Deposlt account interest 10,999 10,486 INCOME FROM CHARrrABLE AcrivrriES 2024 2023 Activity Ministry expenses Ministry expenses Weekends away Outreach events Income from special events Ccntributions to rent Weekends away Income from 5peclal events 724 2,400 44,653 25,560 2,022 8,400 34,091 28,711 73,337 73,224 CHARrrABLE AcrIvrrIES cosrs Grant funding of octivlties (see note Supwrt costs (See note 9) Direct 8) Totsls Ministsy expenses Weekends awav Outreach events Charitable expenses 806,847 67,630 52,866 2BO,865 1,087,712 67,630 53,800 135,695 934 135,695 927,343 135,695 281,799 1,344,837 -14-
CHRIsf CHURCH MAYFAIR NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 GRApifs PAYABLE 2024 2023 Charitsble expenses 135,695 182,812 The totsl grants paid to institutions in the year was as follows.. 2024 2023 AIM Intern*ional Arab Wortd Ministries 8CMT Ltd Beacontree Church Church Pa5tor31 Aid Society Co-mission Initiative Trust Cr0551inks Deacon's fund grant European Christian Mission - Brftaln European Mlssionary Fellowship France Mission Jame5 Knight Gospel Partnershlp London Lfvlng Word International London City Mission Overseas Missionary FellowshSp PleerS UK Min15tries Mission in Central London Reach Beyond UK st Augustine's Wembley Tamar Truth Gospel Ministry University and Colleges Christian Fellowship UFM Worldwlde 26,890 14,100 2,530 2,700 11,000 2,300 10,000 300 47,766 500 300 5,500 7,260 7,260 3,630 2,500 3,000 6,600 500 13,5 3,000 5,500 2,500 13,860 3,300 6,050 2,750 50Q 1,375 5,000 13,463 5,000 2,383 4,400 27,500 4,840 30,250 Totsl 135,695 174,112 SUPPORT cosrs Governance costs Management Flnan other T¢)tsls Ministry expenses Outreach events 176,156 16,402 81,556 934 6,751 280,865 934 176,156 16,402 82,490 6,751 281,799 Direct Costs attributable to a single artivity are allocated direcdy to that activity. Shad costs which contribute dlrectly to more than one activity are apportioned between those actimties. SuppDrt costs which are not attributable to a single actiwty are apportioned beeen the activitie5 being supported. -15-
CHRIST CHURCH MAYFAIR NOTES TO THE FINANCIAL STATEMENTS - CtinUed FOR THE YEAR ENDED 31 DECEMBER 2024 SUPPORT cosrs - continued Support costs, included in the above, are as follows: Management 2024 Ministry expenses 2023 Totsl activities Wages Sw'al security Pensions Central admin and sundry costs Accountancy 115,474 12,433 11,129 22,839 14,281 58,383 6,069 7,110 38.710 15,540 176,156 125.812 Finance 2024 Minlsty expenses 2023 Totsl actlvitles Bank tharges Depreciation of tsngible fixed assets 327 16,075 467 17,015 16.402 17,482 Other 2024 Total activities 2023 Totsl activitie4 Ministry expenses Outreach events Sundries Recharged costs 637 80,919 934 1,571 80,919 27,175 81,556 934 82,490 27,175 Governance costs 2024 Ministry expenses 2023 Total artivities Auditors, remuneration Auditors, remuneration for non audlt work 3,465 3,286 3,300 4,662 6,751 7,962 -16-
CHRIST CHURCH MAYFAIR NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 io. INCOMEI(EXPENDrtURE) Net incomel(expenditure) is ststed after chargingl(creJiting): 2024 2023 Auditors, remuneration Auditors, remuneration for non audit work Depreciatn - own&1 assets 3,465 3,286 16,075 3,300 4,662 17,015 ii. TRusfEES' REMUNERATION AND BENEFITS There were no trustees, remuneration or other tenefits for the year ended 31 December 2024 nor for the year erKled 31 December 2023. Thistees. expenses There were no trustees, expenses paid for the year ended 31 December 2024 nor for the year ended 31 DeCemr 2023. srAFF cosrs 12. 2024 2023 Wages and salaries Social security costs Other pension costs 455,074 32,582 31,312 340,799 18,563 27,386 518,968 386,748 The average monthw number of employees during the year was as follows: 2024 io 2023 io Ministry staff Administration 5tsff 13 12 The number of ernpbyees whose employee benefits (excluding empkjyer pension costs) exceeded £60,000 was.. 2024 2023 £70,001- £80,000 management personnel compensation durlng the year was £129,623 (2023., £44,630). -17-
CHRIsf CHURCH MAYFAIR NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcrIvrrIES Unrestricted fund Ro*ricted furnls Totsl funds INCOME AND ENDOWMENTS FROM Donations and legacies 1,087,040 411 1,087,451 Charitable activities Ministry expEnses Weekends away Outreach events 10,422 34,091 28,711 10,422 34,091 28,711 other trading aclivits'es Investment income 1,122 10,486 1,122 10,486 Total 1,171,872 411 1,172,283 EXPENDMIRE ON Charltable actlvltles Ministry expenses Weekends away Outreach events Charitsble expenses 858,599 65,696 49,876 182,812 858,599 65,696 49,876 182,812 Totsl 1,156,983 1,156,983 NET INCOME 14,889 411 15,300 RECONCILIATION OF FUNDS Total funds brought forward 1,060,049 53,853 1,113,902 TOTAL FUNDS CARRIED FORWARD 1,074,938 54.264 1,129,202 14. TANGIBLE FIXED ASSErs Short leasehold Fixtures & fittings Kitchen cosr At l January 2024 and 31 December 2024 81,909 31,219 4,442 DEPRECIATION At l January 2024 Charge for year 29,657 5,649 11,241 2,438 3,318 237 At 31 Dernb 2024 35,306 13,679 3,555 NEf BOOK VALUE At 31 December 2024 46,603 17,540 887 At 31 December 2023 52,252 19,978 1,124 -18-
CHRIST CHURCH MAYFAIR NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 14. TANGIBLE FIXED ASSEfs - continued Church equlpment Office equipment Totals At l January 2024 and 31 December 2024 38,700 11,534 167,804 DEPRECIATION At l January 2024 Charge for year 13,374 7,135 10,656 616 68,246 16,075 At 31 December 2024 20,509 11,272 84,321 NET BOOK VALUE At 310ecember 2024 18,191 262 83,483 At 31 December 2023 25.326 678 99,558 srocKS 2024 2023 Finished goDIs 2,971 2,971 16. DEBTORS: AMOUNTS FALUNG OUE wrrHIN ONE YEAR 2024 2023 Other debtors Due from related charity Prepayments and accrued income 243,127 434,276 184,290 177,180 16,909 677,403 378,379 17. CREDrroRS: AMOUNTS FALLING DUE WIThIN ONE YEAR 2024 2023 Trade creditors sla1 security and other tsxes Other creditors Accrued expenses 2,882 11,916 1,221 13,352 15,526 9,122 77,053 29,371 101,701 LEASING AGREEMENTS Minimum lease payments under noTrCa[el1ate operating leases fall due as follows., 2024 2023 Within rme year Btheen one and five years 114,406 31,461 144,720 145,867 145,867 290,587 -19-
CHRIST CHURCH MAYFAIR NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 19. MOVEMENT IN FUNDS Net Movement in funds At 111124 31112124 Unrestricted fundg General fund 1,074,938 186,781 1,261,719 Restrlcted funds Deacons, Fund Building projett 51,386 2,878 700 52,086 2,878 54,264 700 54,964 TOTAL FUNDS 1,129,202 187,481 1,316,683 Net movement in fvnds, included in the above are as follows: Incoming resources Resources expended Movement In funds Unrestrlcted funds General fund 1,531,318 {1,344,537) 186,781 Re5trirted funds Deacons, hjnd I,ooo (300) 700 TOTAL FUNDS 1,532,318 (1,344,837) 187,481 Comparatives for movement in funds Net movement In fiJnds At 31112123 At 111123 Unrertrfcted funds General fund 1,060,049 14,889 1,074,938 Restrlcted funds Deacon5' Fund Building proiert 50,975 2,878 411 51,386 2,878 53,853 411 54,264 TOTAL FUNDS 1,113,902 15,300 1,129,202 -20-
CHRIsf CHURCH MAYFAIR NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 19. MOVEMENf IN FUNDS - continued Comparative net movement in funds, included in the above are as follows,. Incoming resources Movement in funds eynded Unrnstrlcted funds General fund 1,171,8n (1,156,983) 14,889 Restricted funds Deaconl Fund 411 411 TOTAL FUNDS 1,172,283 (I.IS6,983) 15,300 Midweek in Mayfair This fund represents a grant recelved towards the cost of p10yrnent of the Midweek In Mayfair staff. lfjtchen fund The Kchen furKJ represents SFecifK donations made to the charity for the refurb15hment of the kitchen at Christ Church Mayfair. The Brldge Battersea This furKI represents a grant recelved to contribute towards the funding of the ministry costs of The Bridge Battersea. WebLEr St Property furtd The fund reprets donation5 made towards the purchase of a new property. Church Plants fund This fund represents a grant receNed from London Dic£e5e to contribute towards the furKling of the ministy costs of church minister with the Intention that that minister w(xJid lead a church plant from Chrlst Church Mayfalr Deacons, fund This fund exists to support members of the church family who find themselves in needs at any time. Bullding project FuThJs for a building proiect to create more rooms, particularly for Sunday Sthool, and to improve dlsabled xcess. RELATED PARTY DISCLOSURES 20. On 1st October 2018 the actfvltles, assets and Ilabilities of Blble Talks (TBT), a charity reglsterej in England and Wales under charity number 1092036, were transferred to Christ Church Mayfair (CCM) by virtue of a deed of trarsfer. TBT continues to hold the properties and thelr related mortgages In trust on téhalf of CCM. All of the costs relating to the propErties and ancillary eXnSeS are borne by CCM. At the year end there was a balance of £434,277 (2023: £177,180) due from TBT to CCN and the total costs recharged in the year amounted to £21,413 (2023: £27,175). -21-
CHRIST CHURCH MAYFAIR NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 21. LIMrrED BY GUARANTEE The company has no share oipital. 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 liabllities contracted Wore he ceases to be a member and of the costs, tharges and expenses of winding up and for the adjustmert of the rights of the contributories among theM$ehS, such amounts as may be required not exceeding Élo. -22-