JUBILEE. LEAMINGTON {A Company Llmited by Guarantee) DIRECTORS, REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 Company Number: 08601283 (England and Wales) Charity Number: 1153252
JUBILEE- LEAMINGTON INDEX PAGES LEGAL AND AOMINISTRATIVE INFORMATION DIRECTORS, REPORT INDEPENDENT EXAMINERS. REPORT STATEMENT OF FINANCIAL ACTIVITIES - 2023 10 COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES- 2022 11 BALANCE SHEET 12 NOTES TO THE FINANCIAL STATEMENTS 13-19
Page 1 JU8ILEE- LEAMINGTON LEGAL AND ADMINISTRATIVE INFORMATION Charity Number.. 1153252 Company Number" 08601283 (England and Wales) DIRECTORS". Mr Christopher Fort)es Catto Mr Kim Mccaffery Mrs Jane L Catto Mr Philip Dowling- Resigned 7th June 2023 Mrs Elizabeth J Dowling - Resigned 61h June 2023 CENTRE MANAGER: Mr Kim Mccaffery START OF FINANCIAL PERIOD: 14 January 2023 END OF FINANCIAL PERIOD: 31SI December 2023 GOVERNING INSTRUMENT: {England & Wale51 Memorandum and Atticles incorporated 8th July 2013 REGISTERED OFFICE: 38 Jourdain Park Heathcote Warwick CV34 6FJ CORRESPONDENCE ADDRESS.. 10 Berrington Road Leaminglon Spa CV31 1NB INDEPENDENT EXAMINERS: Steven Mugglestone BAIHonsl FCA Michael Haw)od & Co Greville House 10 Jury Street Warwick Wanmickshire CV34 4EW BANKERS.. HSBC PO Box 88 The Parade Leamington Spa Warwickshire CV32 48U SOLICITORS Banij Hatton Button Solicitors 53-55 Bulls Road Coventry CV1 3BH
Page 2 JUBILEE- LEAMINGTON DIRECTORS. REPORT For the year ended 31" December 2023 The directors present their rep)rt and the financial statements of the charity for the year ended 31 $1 December 2023. The direclofs have adopted the provisions of the Statement of Recommended Practice ISORPI "Accounting and Reporting by Chariti'es" IFRS 1021 in preparing the annual report and financial statements of the chanty- The financial statements have been PTepaTed in accordance with the accounting policies sel out in the notes lo the accounts and comply with the charity's governing docurnent, the Charities Act 2011 and Accounting and Reporting by Chafities.. Statement of Recommended Practice applicable lo charities preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019. OBJECTIVES The Objectives of the Charity are= 1.The advancement ol the Christian religion in the United Kingdom and overseas in accordance with the stslemenl of faith produced by the Evangelical Aliance 2. The advancement for the public benefft of lIgIouS and other education 3. To relieve people who are in charitsble need because of". Sickness or poor health Age Financial hardship Or some other reason By any proper means as the DireclorslTruslees think fil and including (where appropriate bul not by way of Iimilationl the provision of advice., the promotion of good piactices to combat such conditions and the provision of sOUrceS to alleviate or prevent need. 4. Such other charitsble purposes as the DirectotsNnJstees in their absolute discretion think fil. This provision may be amended by special resolution bul only with the prior written wnsent ol the Commission. ORGANISATION Jubilee - L8aminglon is a charitable company limited by guarantee (Company no. 8601283 & Charity no. 11532521 and is therefore, goveffled by a Memorandum and Articles of Association. 11 is registered as a Charity with the Charities Commission. The directors have no inlerest in the company's assets or surplus and with the exception of Mr Kim Mccaffery and Philip Dowling. they receive no remuneralion. The DireclorslTrustees meet regularfy and have responsibility for the general, legal and fiseal oversight of ihe charitable Company. 2023 has been another challenging year for Jubilee-Leamington. Since the pandemic, churches across the country are reporting redd attendances and it has been no different for Jubilee. For various reasons a number of peop still prefer lo meet online. so we have Continued a hybrid model of meeting in person and online. To fulfil ils objectives. Jubilee-Leaminglon conducts a number of activities throughout the year. Many of these are run as part of Jubilee Church, but an increasing number of events are run in the community as Jubilee-Leamington. Page 3
JUBILEE- LEAMINGTON DIRECTORS, REPORT For the year ended 31 St December 2023 Day lo day work of the charitable Company wa5 undertaken by the following people.. Kim Mccaffery {part-lime employed), Elizabeth Mccaffery Ipart-time employedl, Philip Dowling Ipart-time employed), Christopher Catto (volunteerl. Jane Catto Ivolunleerl and Elizabeth Dowling Ivolunteerl. They provide direction to Jubilee-Leamington charitable activities and church. Philip Dowling and Elizabeth Dowling both resigned frorn their directorship coles in June. Philip Dowling refflained part- lime employed until 31 $1 December 2023. The church is linked lo Bethel Leaders NetsY(Kk. a cross-denomination81 group of Christian churches across the globe. The key leaders meet regulady with other UK-based leaders in this group, and also with other church leaders wrthin the k)eal area. Kim & Elizabeth Mccaffery are ordained in the Order of St Leonard and meet regularly with them. Jubilee-Leamington has been involved in training and equipping leaders of other Christian ministries throughout the year. In 2023 Jubilee-Leamington continued lo be involved with 'Acls Now Moment.. a worldwide Church growth movement. We have benefitted from their training and resources. By using their resources, we have seen people grow and develop in their faith. Jubilee Leaders have been involved in facilitating Zoom training for 'Acts Now Moment. with people across the globe The Church continues in relationship with Belhel Church. Redding, California. Jubilee Church is also a member of Ihe Evangelical Allian, an organisation which connects Christians together acros5 the UK, promoting Christian values. There are no legal links. Dire¢torsfTrustee Appointment. Induction and Training. Current and future DirectorSrusteeS are appointed after consultation with and recommendation by those listed above and are required lo be In agreement with and comrllitted to the aims and objectives of the church as sel out in the trust deed and supplementsry Statement of Faith. Training for DirectorslTrustees is reading 'The Essential Trustee." 'whal you need to kno prepared by the Charity Commissioners. This is reinforced through internal training within the group. Independent training will be refreshed as necessary. Risk Management The DiTectorslTruslees have established a system of risk management that considers both the strategic and opefational risks to the charity. Action plans have been pul in place lo manage key risks. and there are documenled risk assessments for all key areas ofchurch and charitable activities, including working with children and health and safety Issues. Currently, we are not holding any children's activities on a Sunday moming. We have shortened our meetings and made them more inclusive for children. This started as a response lo Covid-19 but has continued as we explore how best to serve our parents in how they take responsibility for educating their children in the Christian failh. We have maintained our Child Protection PoIY and amended it lo include the virtual wodd. Declaration regarding serious incidents The Direclorsttruslees declare there are no serious incidents relating to the charity. Page 4
JUBILEE- LEAMINGTON DIRECTORS. REPORT For the year ended 31$1 December 2023 Aims The objectives of the trust are.. The advancement of the Chris14an religion in the UK and abroad". The advancement. for the public benefrt, of re1louS and other education- The relief, support and encotsragement of the aged. poor, widowed, orphaned and the éisabled, in the UK and abroad.. and Such other charitsble purposes as the DirectorslTwstees in their absolute discretion think fit. How our activtties deliver ublic benefit Much of the work that Jubilee-Leaminglon performs has qualitative measurement. fhat is. we contribute lo the church and the surrounding community in 8 number of often intangible ways. This section aims lo express a number of aehievemenls in line with the chanty's objectives, and to include quanlilative measurements where possible. The Directorsrrrustees and leaders of the church have considered the Commission's guidance on public benefit and. in particular. the specific guidance on charities for the advancement of religion. The advancemenl of the Christian reli ion in the UK and abroad Achievemenls and Performance As a result of our involvement with 'Acts Now Moment, we have amended our focus. We are now intentionally focu55ed on bringing the good news of Jesus and his Kingdom to those who do not yel know him. This has fundamentally changed how we operate and the purpose of our meetings. Sunday momings follow a 4 weekty cycle of Celebration, Prayer and Blessing, Fellowshiplcommunity and Equipping. Our midweek groups are locussed on training everyone to become disciples who are able lo make other disciples using the Commands of Christ format. Every week there are al least two opportunil*s lo reach out to people in the town using some of the skills leaml froffl Spirit Cafe. Healing Rooms and Acts Now Moment. As a result of this change in emphasis we have had over 550 SPiTttual conversations with people during 2023. We have also seen 1 person bapts"sed. Meetings Our meetings and community groups are fundamentsl lo Jubilee Church to advance our vision and build a church based on.. Refreshing and lively worship- Communty groups.. Outreachlserving the community- Training and discipling one another in the Ilving of Christian values. These gatherings fall into Ihe different types of meeting, as outlined above, which are open lo anyone who would like lo worship and grow in God as part ofa chrisb.an community and lo leam and experience more about living as a Christian. The meetings are now 811 held in person, but are also available on zoom. Youth and children continue lo leam more about their faith by pa.¢1pa11ng in Sunday and mid-week meetings as appropriate.. these a attended by children and youth from the church and their friends.
Page 5 JU8ILEE- LEAMINGTON DIRECTORS, REPORT For the year onded 31" Dgcember 2023 Good Mornlng Jesus This was started during lockdown lo help people gel into a practical and spiritual rhythm of life. We meet 5 mornings a week on Zoom al 08.15 and start the day inleracling with Jesus and each other. This has been a success and is attended by some from the wider community. The advancement for ubllc bènèfit of reli ious and other education Many of the activities listed under the advancement of the Christian religion include and. indeed. are sometimes exclusively based on the advancement for public benefit of religious education. Of primary relevance here is the leachingltraining done through our various church meetings. Jubilee-Leaminglon is involved in other activities lo build the community and train people.. Additional Leadership Training Kim & Elizab8lh Mccaffgry are members of a mentoring community called "Bethel Leaders Network run from Bethel Church, Redding. California. This provides fortnighlly online leadèrship training, n81working and support. They also mel with other local church leaders. Kim & Elizabeth Mccaffery and Christopher & Jane Calto facilitated a 14 week global online training course by "Acts Now Moment" This was aimed at training people lo be more effective al sharing their lailh. Al the end ol Iht course. those Interested w9re offered the opportunity ol meeting online monthly lo report how they are progressing in their local communities. This group is proving very successful and encouraging for all involved and will continue in 2024. Through OSL we supported the work of a missionary org8nisalion abroad involv8d in providing biblical leaching and a school for orphans. In January we held Spirit Cafe in our building. For tho rest 0¢ the year we look Spirit Cafolgospel conversations into the town cènlré. Many volunteers within the Jubilee community participated in offering prayer, hope and encouragement lo the sick. The Jubilee Healing Rooms opened in eompliance with the National Association ol Healing Rooms guidelines in 2016. Throughout 2023 we rnoved Thg Healing Rooms and Spirit Cale onto the streets. Vve mel al least tWCe a month in Jephson GardenslPump Room Gardens. This enabled us lo interact with and encourage more people than solely gathering In our building. Vve started menlorlng several people new lo the Christian lailh by meeting with them informally throughout the year. Kim and Elizabeth Mccaffery ministered lo other churches in the UK and supported other leaders both in person and online. Elizabeth Mccaffery assisled with the translation of Global Kingdom Family training material from Gemian to English, and we have incorporated this in our own training.
Page 6 JUBILEE- LEAMINGTON DIRECTORS, REPORT For the yèar ended 31 St Decembèr 2023 Thè r•li&f su ort and encoura disabled in thg UK and abroad 8mènt of the a od oor widowed o haned and Jubilee-Learnington has previously run and will look for opportunities to continue lo run a number ol programmes or events aimed al supporting those in our wider communities.. Members of the church communty are erbcouraged to care for those in their community. following the example of Jesus and Christians in the Bible. Examples include.. strengthening community through meeting regulady for fellowship and prayer, and welcomin9 and befriending visitors personal and spiritual development through one lo ono or small group discipleship and encouragement providing meals and support to now parents after a baby is bom. or during ill health situations giving money or gifts lo ihose In material need Jubilee-Leaminglon contributed l¢)ward$ funding a Christian minislry in various African nations Future Plani Jubilee-Léamington continues lo look into ways ol becoming more deeply Involved in a number of communities witttin Leaminglon e.g. Peace Festival Icurrenlly on hold since pandèmicl, offering mentoring for new disciples ba$8d on the Commands ol Chfist. Jubilee Healing Rooms, ministry trainin9, elc. Flnancial RgVi•W The Chaniable Company made a loss of £3,409 during 2023 12022.. £349 deficill. The trustees acknowledge that 2023 was another challenging year financially. People have conlinu6d to support Jubilee generously and many have Iransferred Iheir gift lo standing order or online. In response lo the financial situal*Jn. it has been necessary lo place Kim Mccaffery on a one day week contract from March 2023. Funding Th8 principal funding sourees ol Jubilee-Leaminglon are through the generous giving of those associated with the church and those aftilialed lo the church. Gift AMI Is a nSiderable portion of this ftjnding. Jubilee-Leamington'$ expenditure has effectively supported the objectives of the charity through.. Employment and training of the full and part-lime staff and volunteers. Events in support ol the charity's aims and objective5. Gffts lo those in financial or material need. Page 7
JUBILEE- LEAMINGTON DIRECTORS, REPORT For the year endod 31$1 December 2023 In addition lo general expenditure, the church seeks lo make specific one-off grants to respond to immediate needlcircumslances in accordance with the Irusl's objectives. In some cases, a special eolleclion is taken by the church and in other cases the grant is made from general funds. Investment Policy Surplus funds are reviewed on a regular basis. The aims of the investment policy are lo maximise the returns achieved subject to minimal risk and the requirement lo maintain short lem) availability of all funds. Grants Pollcy Jubilee-L8aminglon is not primarily a grant giving charity. However, il does seek lo be gènerous and support a number of other organisalions with similar aims and objectives. Jubilee gives regularly lo ministries into African nations via the work of the Order of Sl Loonard abroad.11 also supports various Global Legaey ministries. Roserves Pollcy Jubilee-Leamington aims lo hold the equivalonl ol a minimum of three months 9xpendilur8 as general r8servg5. Th¢ Direelors are aware that our reserves are currently In excess ol this. However, being a small charity we are particularly vulnerable lo the effects of reduced donations. Al this lime. we think il 1$ advisable lo hold increased reserves as a buffer. Dlroctors Re$ponslblllti8s The Charities Act and Company Act require the Board of DireclorslTruslees lo prepare financi81 statements for each financial year which give a true and fair view of the slate of affairs ol the charity as al the end of Ilio financial year and ol the surplus or deficit of the charity. In preparing those lin8ncial slalemenls the Board Is required lo.. select suitable accounting policies and then apply them consislenlly., make judgements and eslimales that are reasonable an(J prudent,. and prepare financial slalemenls on the going concern basis unless il is Inappropriate lo presume that the charity will continue in business slate whether applicable accounting standards and slalemenls of ro¢ommend8d practice have been followed, subject lo any material departures disclosed and explained in the financial stalemenls. The DireclorslTruslees are also rèsponsible for maintaining adequate accounting records which disclose with reasonable accuracy al any lime the financial position of the charity and which sufficiently show and explain the cliarily's Ir8nsaclions and enable them to ensure that the financi81 slalemenls comply with the Companies Act 2006 and comply with regulations made under the Charities Act They are also responsible for safeguarding the assets of Ihe Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Director51Truslees are also responsible lor the contents ol the DireclorslTruslees' report and the responsibilities of the independent examiner in relation lo the Page 8
DIRECTORS, REPORT For tho year ended 31KI DeGember 2023 DirectorSrSteeS report is limited lo examining the report and ensuring that, on the face of the report, there are no Inconsistencies with the figures disclosèd in the financial stalemenls. These accounts have been prepared in accordance with the provisions applicable to th6 companies subject lo the small companies, regime. Ind èn t Examln•r The Directorsttruslees intend lo ask Michaèl 4arnood & Co, Chartered Accounlanls, lo undertake the independent examination af Ihp Charilahle Conipany. Thè r8POrt was approved by the DirectorslTruslees on . L -and signed on their behalf.. ChThstopher Forbes Catto...... Kim Robin Mccaffery................... Jane Louiso Calto...... JUBILEE- LEAMINGTON Pagè 9
INDEPENDENT EXAMINERS, REPORT For the year ended 31" December 2023 I report on the accounts of the company for the year ended 3151 Dember 2023 which are sel out on pages 10 10 19. Respectiva responsibilities of trustees and oxaminer The trustees (who are also the directors of the company for the purposes of company lawl are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144121 of the Charrties Act 2011 {the 2011 Acll and that an independent examination is needed. Having satisfied myself that the charity is not subject lo audit under company law and is eligible for independent examination. rt is my responsibility lo. examine the accounts under se¢ts"on 145 of the 2011 Act-, follow the procedures laid down In Ihe general directions given by the Charity Commission under section 14515llbl of the 2011 Act," and slate whether particular matters have come lo my attentn. Basis ol independent examinerfs report My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a vIeW of the accounting records kept by the charity and a comparison of the accounls presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees conMIng any such matters. The procedures undertaken do not provide all the evidence that would be required in an audrt and consequently no opinion is given as to whether the accounts present a llrue and fair view" and the report is limited lo those matters sel out in the statement below. Independent examinerfs statement In connection with my examination. no Tnatter has come to my attention= whth gives me reasonable cause to believe that. in any material respecl, the requirements.. to keep accounting records in accordance with section 386 of the Companies Act 2006., and to prepare accounts which accord with the accounting records, comply with the accounting equiremenls of section 396 ofthe Companies Act 2006 and with the methods and principles of the Statement of Recofflmended Practice." Accounting and Reporting by Charities have not been met,. or lo which. in my opinion, attention should be drawn in order to enable a proper understsnding of the account5 to be reached. Steven Mugglestone BAIHonsl FCA Michael Harwood & Co Chartered Accountsnts 10 Jury Street Warwick CV34 4EW Dale. ?2h[
Page 10 JUBILEE- LEAMINGTON STATEMENT OF FINANCIAL ACTTVITIES {In¢orporating the Income and Expenditure Account) For the year ended 311t December 2023 Note Unrestricted Restricted 31.12.23 31.12.22 Incom8 frorn: Charitable aclivilies". Volvnlary Income Income from Solar Panel Covid grant Other income 54.097 6.655 65 54,162 6,655 69.611 1,683 12.500 21 20 20 TOTAL INCOME 60,772 65 60,837 £83.815 Expenditure on: Charitabl6 activities {41.4671 120,739) 162,2061 {82,0881 Other cosls 12,0401 {2,0401 12,0761 TOTAL EXPENDITURE 143,S071 120,739) 164,2461 1£84.164} NET IhtCOME I (EXPENDITURE) for the year before transfers 17.265 120,674) 13,4091 1349) Transfers betsveen funds 12 {20,6741 20.674 Net movement In fund$ fortht year 13,409} (3,4091 13491 Fund balances broughl forward 244.837 244,837 245,186 FUNO BALANCES at 31 Dec•mr 2023 12 £241.428 £241,428 £244.837 The notes on pages 13 to 19 fomi an integral part of the accounts.
JUBILEE- LEAMINGTON Pago11 COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES {Incorporating the Income and Expenditure Account) For the yèar ended 31$1 December 2022 Note Unreslricled Restrirted 31.12.22 Income from: Charitsble activities.. Voluntary Income Income from Solar Panel Covid grant Other income 69.536 1.683 12,500 21 75 69.611 1,683 12,500 21 TOTAL INCOME £83.740 £75 £83.815 Expendlturo on.. Charitablo a¢livilies (74.2571 17.8311 182,0881 Other costs 12,076) 12,0761 TOTAL EXPENDITURE (£76,333) 1£7.8311 1£84,1641 NET INCOME I (EXPENDITURE) for the year before transfèrs 7.407 17.7561 13491 Transfers betsveen funds 12 17,7561 7,756 Net movement In fund# for the year {349 13491 Fund balances broughl forward 245,186 245,186 FUND BALANCES at 31M December 2022 12 £244.837 £NIL £244,837 The notes on pages 13 to 19 form an integral part of the accounts.
JUBILEE- LEAMINGTON Page 12 BALANCE SHEET As at 31U Decembgr 2023 2023 2022 FIXED ASSErs Tangible fixed assets 256.189 263.388 CURRENT ASSETS Debtors & Prepaymenls Cash at bank and in hand 10.612 63.375 11.838 68.712 73,987 80.550 CURRENT UABIUTIES Creditors {20.8811 (18,776) NET CURRENT ASSETS 53,106 61.774 TOTAL ASSETS LESS CURRENT LIABILITIES 309,295 325.162 LONG TERM CREDITORS Bank loans due in more than one year 10 {67,867) (80,3251 NET ASSETS £241.428 £244,837 FUNDS OF THE CHARrrY: Restricted funds Unrestricted funds 13 13 241.428 244,837 Total charity funds £241,428 £244,837 For the year ending 31Y. December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 26 relaling to small companies. Directors, responsibilibes.. Th& members have not required the company to obtain an audit of its accounts for the year in queslion in accordance with section 476: The directors acknowledge their responsibilities for complying with the requirements of the Act with respect io accounting records and the Preparab'on of accounts. These financial statements have been prepared in accordance th the provisions applicable to companies subject lo the small companies. regime. and signed on their behalf by= .4tiil I Mr C Catto (Director) Mr K Mccaffe irectorl The notes on pages 13 to 19 fomi an integral part of the accounts.
Pagg 13 JUBILEE- LEAMINGTON NOTES TO THE FINANCIAL STATEMENTS For the year ended 31" December 2023 ACCOUNTING POLICIES {al Basis of Accounting and Going Concem Jubilee - Leamington is a charitable company limited by guarantee (Company no. 8601283 & Charity no. 1153252) and is therefore, govemed by a Memor8ndum and Articles of Association. The charrty conslitules a public benefit enlity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charilies- Slalemenl of Recofflmended Practice applicable lo charities preparing their accounts in accordallce with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 issued In October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021. the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice. With the current level of unreslncted reserves and continued success of fundraising efforts, the Directors have reasonable expectation that the charity has adequate resources to continue in operalional existence for the foreseeable future. For this reason. the financial slaterrtenls are prepared on a going Concern basis under the historical cost convention, modified to include certain items at fair value. The financial slalemenls are presented in sterting which is Ihe functional currency of the charity and rounded lo the nearest £1. {b} Income Both Investment income and voluntary income are recorded when receivable. {c} Expenditure Expenditure is induded on an accruals basis. Charitable activities include the direcl cost of the activities and deprecialion on related assets. Idl Flxed Assets Fixed assets are induded al cost. There are no significant uncapitalised assets. Depreciats"on is provided to write off the cost. less any eslimaled residual values of all fixed assets over their estimaled usefvl lives using the following rates_. Freehold Property- over 50 years Improvements to Propety- over 5 years Fixtures, Fittings & Equipment- over 3 years {el The Charity is not gIStered for VAT and lherefO all expenditure incurred includes Value Added Tax. The Charity oper31es a defined contribution pension scheme. Contributions payable in a year charged lo Statement of Financial Activities.
Page 14 JUBILEE- LEAMINGTON NOTES TO THE FINANCIAL STATEMENTS (Continued) For tho yéar anded 31. December 2023 ACCOUNTING POLICIES (Continuedl Igl Fund Accounting The Charity maintains a general unreslricled fund which represents funds which are expendable at the discretion of the Trustees in furtherance of the objects of the Charity. Such funds are held in order lo finance both working capital and capital investment. Restricted funds are provided to the Charity for particular purposes, and il is the policy of the Board of Trustees lo carefully monitor the application of those fund5 in accordance with the rtslriclions placed upon them. Ihl The Charity has elected lo apply the provisions of Section 11 of FRS102 'Basic financial Inslrumenls, lo all ils financial inslrumenls. Financial inslrurnenls are recognised in the Charity's Balance Sheet when the Charity becomes party lo the conlraclual provisions of the inslrumenl. Basic financial assets include deblofs, cash and bank balances which are maasured al transaction price including transaction costs. Basic financial liabilities are creditors and accruals and bank loans. Creditors and accruals are measured al transaction price (cash or expected settlement amounll. Bank loans are measure at amortised cost. Taxation The charity is an exempl charity within the meaning of schedulg 3 of th¢ Charili6s Act 2011 and is considered lo pass the tests sel out in Paragraph 1 Schedule 6 Finance Act 2010 and Iherelore il meets the delinilion of a charitable ¢ompany for UK corporation lax purposes. 191 Golng Concern The financial slalemenls have been prepared on a going concern basis as the Iruslees believe that no material uncèrtainties exist. The Iruslees have considered the level of funds held and the expected level of income and expenditure for 12 months from aulhorising these financial slalemenls. The budgeted income and expenditure is sufficient with the level of reserves for the charity lo be able to continue as a going concern. ANALYSIS OF INCOME 2023 Unre$trl¢ted Restrlcted Total 2022 Voluntary income Income from solar panels Covid recovery grant Other income 54,097 6,655 65 54,162 6,655 69,611 1,683 12.500 21 20 20 £60,772 £65 £60,837 £83,815
Page 15 JUBILEE- LEAMINGTON NOTES TO THE FINANCIAL STATEMENTS {Continued} For the year ended 31°, December 2023 ANALYSIS OF EXPENDITURE Unrestricted Restricted Funds Funds Total 2023 2022 Direct charitable expenditure: Church activities and running costs Tithes and gifts Salaries Employer's national insurance Pensions Insurance Computer expenses Training Travel and subsistence Postage. printing stslionery and advertising Telephone Depreciab"on 2,661 861 19.155 20.739 23,400 861 19,155 11,594 2,409 45,882 1,232 6,068 1,014 1.504 2.110 1.444 19 1,613 7,199 6,068 1,086 1,028 1,738 6.068 1.086 1,028 1,738 346 35 1.290 7.199 35 1.290 7.199 £41,467 £20,739 £62,206 £82,088 OTHER COSTS 2023 2022 Independenl Examiner 2.040 2,076 £2.040 £2.076 EMPLOYEE EMOLUMENTS Gross wages Employer'5 national insurance Pension costs 19,155 45,880 1,232 6,068 6,068 Total emoluments £25,223 £53,180 Average number of employees No employee eamed £60,000 per annum or mre. Durtng the year salary was paid to Kirn Mccaffery for his role of minister of lIgIOn, which is included within the above analysis. Salary amounting lo £12,397 {2022'. £34,436), employer's national insurance amounting to £NIL 12022." £1.232) and pension contn'bulions amounting lo £5,46412022: £5,464>. During the year. Trustees were reimbursed expenses amounting lo £5,436 12022". £9,525) for their employment in accordance with Ihe Articles of Associalion. The number of trustees who were rmbUr$ed expenses during the year amounted lo three.
Page 16 JUBILEE- LEAMINGTON NOTES TO THE FINANCIAL STATEMENTS l¢ontinuod} For the year ended 31 St December 2023 TANGIBLE FIXED ASSETS Freehold Property property Improvoment$ Furnituro rittings & ¢omputer quiprnènt Total Cost Al 111 January 2023 Additions £319,870 £153.540 £20,099 £493,509 Al 3111 December 2023 £319,870 £153.540 £20,099 £493,S09 Deprecialion Al 1 llt January 2023 Dgpro¢ialion for the year 57,577 6,397 153,540 19,004 802 230,121 7,199 Al 31 ts1 Dèeember 2023 £63,974 £153,540 £19,806 £237,320 Nel 8ook Value Al 3111 December 2023 £255,896 £NIL £293 £256,189 Al 3111 Decembor 2022 £262,293 £NIL £1,095 £263,388 These assets ware all used for the charitable purpose5 of the church. Tangible fixed assets with a nel book value of £256.18912022 - £263.3881 have been pledged as security for liabilities of the charities. FINANCIAL INSTRUMENTS NOT MEASURED AT TRANSACTION PRICE 2023 2022 Carrying amount of financial liabilities measured al amortised cost Instruments measured at amortised cost £85.625 £95,495 DEBTORS AND PREPAYMENTS Accrued income Prepayments 9.552 1.060 10,862 976 £10.612 £11,838 The accrued income figure is in the latIon lo gift aid not yel claimed.
Page 17 JUBILEE- LEAMINGTON NOTES TO THE FINANCIAL STATEMENTS (Continued} For the year ended 31 $t December 2023 CREDITORS: amounts falling due wlthin one year 2023 2022 Bank loans Social security and other taxes Accruals and Dlher creditors 17,758 24 3,099 15,170 507 3,099 £20.881 £18,766 Creditors falling due within one year include secured creditors £17,75812022.. £15.1701 10. CREDITORS.. arnount¥ falling dug after one yèar 8ènk loans £67,867 £80.325 Analys1$ of loans Not wholly repayable within five years by inslalmanls.. Bank loans 85,625 95,495 85,625 95,495 Included within current liabilities 117.7581 115,1701 £67,867 £80,325 Loan maturlty analysls Debt due in one year or less In more than one year bul not more than two years In more than two years bul not more than five years In more than five years 17,758 17,758 50,109 15,170 15,743 50,944 13,638 £85,625 £95,495 Creditors lalling due in more than one year include secured creditors of £67,867 12022.. £80,3251. These loans are repayable in 2028. 11. PENSION AND OTHER- POST RETIREMENT BENEFIT COMMITMENTS Defined Contribution During the year the charity paid a lotsl pension contribution of £6,06812022.' £6,068).
Page 18 JUBILEE- LEAMINGTON NOTES TO THE FINANCIAL STATEMENTS {Continuedl For the year ended 31 St December 2023 12. MOVEMENT ON FUNDS Balance al Balance at Transfers 31.12.2023 Incomg in year Expenditure in year 01.01.2023 General funds 244.837 61.561 144,2961 120,674) 241,428 Total unrestricted funds 244.837 61.561 144.2961 120.6741 241,428 Building Fund 65 (20,7391 20,674 OSL Fund Total restricted funds 65 120,7391 20,674 Total funds £244.837 £61.626 £165.035) £NIL £241,428 MOVEMENT ON FUNDS Balance at Balance at Transfers 31.12.2022 Income in year Expenditure in year 01.01.2022 General funds 245.186 83.740 176.333) 17,7561 244,837 Total unrestricled funds 245,186 83.740 (76.333) 17,7561 244,837 Building Fund 75 <7.831 } 7,756 OSL Fund Total restricted funds 75 {7,8311 7,756 Total funds £245,186 £83.815 £184,164) £NIL £244,837 The transfers from unrestn.cted funds to reslricled funds in the year represent unrestricted donations used lo meet the addrtional expenses. 13. ANALYSIS OF NET ASSETS BETWEEN FUNDS Net Tangible Current Fixed Assets Liabilities Total 31.12.2023 Restrscted funds Unreslricled funds 256,189 114,7611 241,428 £256.189 £114,761) £241,428
Page 19 JUBILEE- LEAMINGTON NOTES TO THE FINANCIAL STATEMENTS (Continued) For the yèar ended 31 St December 2023 13. ANALYSIS OF NET ASSETS BETWEEN FUNDS Tangible Flxed Ass8ts Net Current Liabilities Total 31.12.2022 Reslricled funds Unre51ricled funds 263.388 118,5511 244.837 £263.388 £118,551) £244.837 14. RELATED PARTY TRANSACTIONS One of the directorsltrusleos - Rev Kirn Mccaffery received a part lime salary of £12,397 12022.. £34,4361 and was reimbursed expenses of £3.62412022.. £8,044) for his employment as a minister ol religion (church leaderl in accordance with the articles of Association. No salary was Paid lor the role of direclorllruslee. Retirement benefits arg accruing under defined contribution scheme for Rev Kim Mccaffery. His wile Rev Eli28belh Mccaffery received a p8rt lime salary of £3,50712022.' £6,044) and wa5 reimbursed expenses 01 £98 12022.. £1391 for her employment as a minister of religion (church leaderl. Retirement benefils are accruing und8r defined conlribullon schemes for Rev Elizabeth Mccaffery. Mr Philip Dowling received a part lime salary of £3,250 12022.. £5,400) and was reimbursed expenses of £1,71412022.. £1,8621 for his employment as a minister of relIgon. In accordance with the Article5 of As50cialion no directors1lated parties are involved in the decision making and setting ol remuneration packages. No DireclorlTruslee was paid more than £60,000 per annum. The total amounl of donations received from Trustees during the year wilhoul condillons amounted lo £22,88712022.. £26,395). 15. CONTROLLING PARTIES The ultimate controlling party of the charity is the Board ol DireclorslTruslees. 16. SHARE CAPITAL The Charitable Company is limited by guarantee and has no share capital.