JUBILEE- LEAMINGTON IA Company Llmltod by Guarantee) DIRECTORS, REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 Company Number: 08601283 {England and Wales) Charity Number: 1153252
JUBILEE - LEAMINGTON INDEX PAGES LEGAL AND ADMINISTRATIVE INFORMATION DIRECTORS, REPORT INDEPENDENT EXAMINERS, REPORT STATEMENT OF FINANCIAL ACTIVITIES BALANCE SHEET 10 NOTES TO THE FINANCIAL STATEMENTS
Page 1 JUBILEE - LEAMINGTON LEGAL AND ADMINISTRATIVE INFORMATION Charity Number.. 1153252 Company Number.. 08601283 (England and Wales) DIRECTORS.. Mr Christopher Catto Mr Kim Mccaffery Mrs Jane Catto CENTRE MANAGER.. Mr Kim Mccaffery GOVERNING INSTRUMENT.. (England & Wales) Memorandum and Articles incorporated 8th July 2013 REGISTERED OFFICE: 38 Jourdain Park Healhcote Warwick CV34 6FJ CORRESPONDENCE ADDRESS.. 10 Berrington Road Leamington Spa CV31 1NB NDEPENDENT EXAMINER.. Mark Harwood FCA BFP FMAAT Michael Harwood & Co Greville House 10 Jury Street Warwick Warwickshire CV34 4EW BANKERS.. HSBC PO Box 88 The Parade Leaminglon Spa Warwickshire CV32 4BU SOLICITORS Band Hatton Button Solicitors 53-55 Butts Road Coventry CV13BH
Page 2 JUBILEE- LEAMINGTON DIRECTORS, REPORT For the year ended 311t December 2024 The directors present their report and the financial statements ofthe charity for the yearended 3181 December 2024. The directors have adopted the provisions of the Statement of Recommended Practice {SORP) "Accounting and Reporting by Charities. (FRS 102) in preparing the annual report and financial statements of the charity. OBJECTIVES The Objectives of the Charity are.. 1. The advancement of the Christian religion in the United Kingdom and overseas in accordance with the statement of faith produced by the Evangelical Alliance 2. The advancement for the public benefit of religious and other educalion 3. To relieve people who are in charitable need because of: Sickness or poor health Age Financial hardship Or some other reason By any prop8r means as the DirectorslTruslees think fit and including (where appropriate but not by way of limitation} the provision of advice. the promotion of good practices to combat such conditions and the provision of resources to alleviate or prevent need. 4. Such other charitable purposes as the Directorsrrrustees in their absolute discretion think fit. This provision may be amended by special resolution but only wilh Ihe prior written consent of the Commission. How our actlvltles dellver ubllc beneflt Much of the work that Jubilee - Leamingion performs has qualitative measurement. That is, we contribute to the church and the surrounding community in a number of often intangible ways. This section aims to express a number of achievements in line wilh the charily's objectives, and to include quantitative measurements where possible. The Directorsrrrustees and leaders of the church have considered the Commission's guidance on public benofit and, in particular, Ihe specific guidance on charities for the advancement of religion. ORGANISATION Jubilee - Leamington is a charitable company limited by guarantee (Company no. 8601283 & Charity no. 1153252) and is therefore, governed by a Memorandum and Articles of Association. It is registered as a Charity with the Charities Commission. The directors have no interest in the company's assels or surplus and. with the exception of Mr Kim Mccaffery, they receive no remuneration. The DirectorslTruslees meet regularly and have responsibility for the general, legal and fiscal oversighl of the charitable Company. 2024 has been another challenging year for Jubilee - Leamington. Since the pandemic. many churches across the country have reported reduced attendances and it has been no different for Jubilee. For various reasons a number of people still prefer to meet online. so we have continued a hybrid model of meeting in person and online.
Page 3 JUBILEE- LEAMINGTON DIRECTORS. REPORT For the year ended 3111 December 2024 To fulfil its objectives, Jubilee-Leamington 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. Day to day work of the charitable company was undertaken by the following people.. Kim Mccaffery (part time employed), Elizabeth Mccaffery {part-time employed), Christopher Catto {volunteerl, Jane Catlo (volunteerl. They provide direction to Jubilee Leamington charitable activities and church. The church is linked to Bethel Leaders Network, a cross-denominational group of Christian churches across Ihe globe. The key leaders meet regularly with other UK-based leaders in this group. and also with other church leaders within the local 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 2024 Jubilee - Leamington continued to be involved with 'Acts Now Moment., a worldwide Church growth movement. We have benefilted 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 Bethel Church, Redding, California. Jubilee Church is also a member of the Evangelical Alliance, an organisation which connects Christians logelher across the UK, promoting Christian values. There are no legal links. Dir•ctorslTrustee 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 committed to the aims and objectives of the church as set out in the Irust deed and supplementary Statement of Faith. Training for DireCtorsrsteeS is reading 'The Essential Trustee-. 'what you need to know, prepared by the Charity Commissioners. This is reinforced through internal training within the group. Independent training will be refreshed as necessary. Risk Management The DirectorslTrustees have established a system of risk management that considers both the strategic and operational risks lo the charity. Aclion plans have been put in place to manage key risks, and there are documented risk assessments for all key areas of church and charitable activities, including working with children and health and safety issues. Currently, we are not holding any children's activities on a Sunday morning. We have shortened our meetings and made them more inclusive for children. This started as a response to Covid-19 but has continued as we explore how best to serve our parents in how they take responsibility for educating their children in Ihe Christian faith. We have maintained our Child Protection Policy and amended it to include Ihe virtual world. Declaration regarding serious incidents The DirectorslTrustees declare there are no serious incidents relating to the charity.
Page 4 JUBILEE- LEAMINGTON DIRECTORS, REPORT *t For the year ended 31 December 2024 ACHIEVEMENTS AND PERFORMANCE The advancement of the Christian reli ion in the UK and abroad As a result of our involvement with 'Acts Now Moment, we have amended our focus. We are now intentionally focussed on bringing the good news of Jesus and His Kingdom to those who do not yet know him. This has fundamentally changed both how we operale and the purpose of our meetings. Sunday mornings follow a 4-weekly cycle of Celebration, Prayer and Blessing, Fellowshiplcommunity and Equipping. Our midweek groups are focussed on training everyone to become disciples who are able to make other disciples using the Commands of Christ format. Every week there are opportunities to reach out to people in the town using some of the skills learnt from Spirit Cafe, Healing Rooms and Acts Now Moment. As a result of this change in emphasis we have had over 1000 spiritual conversations with people. We have also seen 3 people baptised in 2024. MeetSngs Our meetings and community groups are fundamental to Jubilee Church to advance our vision and build a church based on: Refreshing and lively worship., Community groups., Outreachlserving the community., Training and discipling one another in the living of Christian values. These gatherings fall into the different types of meeting, as outlined above, which are open to anyone who would like to worship and grow in God as part of a Christian community and lo learn and experience more about living as a Christian. We also meet informally with people who have expressed an interest in learning more as a result of conversations on the streel. All meetings are now held in person, but some are also available on Zoom Youth and children continue to learn more about their faith by participating in Sunday and mid-week meetings as appropriate., these are attended by children and youth from the church and their friends. Good Morning Jesus This was started during lockdown to help people get into a practical and spiritual rhythm of life. We meet 5 mornings a week on Zoom at 08.15 and start the day interacting with Jesus and each other. This continues to run successfully and is attended by some from the wider community. The advancement for ublic benefit 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 teachingltraining done through our various church meetings.
Page 5 JUBILEE- LEAMINGTON DIRECTORS, REPORT For the year ended 31st December 2024 Jubilee-Leamington is involved in other activities to build the community and train people: Additional leadership Iraining Kim & Elizabeth Mccaffery are members of a mentoring community called 'Bethel Leaders Network, run from Bethel Church, Redding, California. This provides fortnighlly online leadership training. networking and support. They also met with other local church leaders. In March Kim and Elizabeth Mccaffery attended a training and fellowship retreat in Wales with other UK members of the Bethel Leaders Network and the group mentor. Kim and Elizabeth Mccaffery and Christopher and Jane Catlo attended an equipping and encouragement weekend gathering hosted by No Place Left Kim & Elizabeth Mccaffery and Christopher & Jane Catto facilitated a 6-week global online training course by 'Acts Now Moment,. This was aimed al training people lo be more effective at sharing their faith. At the end of the course, those interested were offered the opportunity of meeting online monthly to report how they are progressing in their local communities. This group is proving very successful and encouraging for all involved and has continued throughout 2024. Through OSL we supported the work of a missionary organisation abroad involved in providing biblical leaching and a school for orphans. Spirit Cafelgospel conversations in the town centre took place throughout th8 year. Many volunteers within th@ Jubilee community participated in offering prayer, hope and encoura9ement to the sick. The Jubilee Healing Rooms opened in compliance with the National Associalion of Healing Rooms guidelines in 2016. Throughout 2024 we moved The Healing Rooms and Spiril Cafe onto the streets. We met at least twice a monlh in Jephson GardenslPump Room Gardens. This has enabled us lo interact with and encourage more people than solely gathering in our building. We started mentoring several people new to the Christian faith by meeting with them informally throughout the year Kim and Elizabeth Mccaffery supported other church leaders both in person and online. At Christmas a carol service was held in Jubilee church and was attended by 300 people. The relief su UK and abroad ort and encoura ement of the a oor widowed or haned and dlsabled In the Jubilee - Leamington has previously run and will look for opportunities to continue to run a numb8r of programmes or events aimed at supporting those in our wider communities. Members of the church communily are encouraged to care for those in their community, following the example of Jesus and Christians in the Bible. Examples include.. strengthening community through meeting regularly for fellowship and prayer, and welcoming and befriending visitors personal and spiritual development through one to one or small group discipleship and encouragement providing meals and support to new parents after a baby is born, or during ill health situations giving money or gifts to those in material need Jubilee - Leamington contributed towards funding a Christian ministry in various African nations
Page 6 JUBILEE - LEAMINGTON DIRECTORS, REPORT $t For the year ended 31 December 2024 Future Plans Jubilee-Leamington continues lo look into ways of becoming more deeply involved in a number of communities within Leaminglon e.g. Peace Festival (currently on hold since pandemic), offering mentoring for new disciples based on the Commands of Christ, Jubilee Healing Rooms. ministry training, etc. Financlal Revlew The Charitable Company made a surplus of £9,832 during 2024 (2023.. restated £2.988 surplus. Previously a £3,409 deficit See Note 2 to the Financial Statements). The trustees acknowledge that 2024 was another challenging year financially. People have continued to support Jubilee generously and many have transferred their gift to standing order or online. Funding The principal funding sources ofJubilee- Leaminglon ar8 through Ihe generous giving ofthose associated with the church and Ihose affilialed to the church. Gift Aid is a considerable portion of this funding. Jubilee - Leamington's expenditure has effectively supported the objectives of the charity through.. Employment and training of the staff and volunteers. Events in support of the charity's aims and objectives. Gifts to those in financial or material need. In addition to general expendilure, the church seeks to make specific one-off grants to respond to immediate needlcircumstances in accordance with Ihe trust's objectives. In some cases a special collection is taken by the church and in other cases the grant is made from general funds. Investment Pollcy Surplus funds are reviewed on a regular basis. The aims of the investment policy are to maximise the returns achieved subject to minimal risk and the requirement to maintain short term availability of all funds. Grants Policy Jubilee - Leamington is not primarily a grant giving charity. However, it does seek to be generous and support a number of other organisations with similar aims and objectives. Jubilee gives regularly to ministries in African nations via the work of the Order of St Leonard abroad. We also support various worldwide evangelism and training ministries. Reserves Policy Jubilee - Leamington aims to hold the equivalent of a minimum of three months expenditure as general reserves. The Direclors are aware Ihat our reserves are currently in excess of Ihis. However, being a small charity we are particularly vulnerable to the effects of reduced donations. At this time, we think it is advisable to hold increased reserves as a buffer.
Page 7 JUBILEE- LEAMINGTON DIRECTORS, REPORT For the year ended 31 December 2024 Directors Responsibilities The Charities Act and Company Act require the Board of DIrectorsruStees lo prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to: selecl suitable accounting policies and then apply them consistently., make judgements and estimates that are reasonable and prudent., and prepare financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in Ihe financial statements. The Directorsrrruslees are also responsible for mainlaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which sufficiently show and explain the charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for th@ prevention and detection of fraud and other irregularilies. The DirectorslTrustees are also responsible for the contents of the DireciorslTrustees' report and the responsibilities of the independent examiner in relation to the Directors/Trustees report is limited to examining the report and ensuring that, on the face of the report. there are no inconsistencies with the figures disclosed in the financial stalements. These accounts have been prepared in accordance with the provisions applicable to the companies subjecl to the small companies, regime. The report was approved by the DirectorslTrustees on ?S and signed on their behalf: Mr Christopher Catto... Mr Kim Mccaffery...... Mrs Jane Catto.......
Page 8 JUBILEE - LEAMINGTON INDEPENDENT EXAMINERS, REPORT For the year ended 311t December 2024 I report on the accounts of the company for the year ended 3181 December 2024 which are set out on pages 9t017. Responsibilities and basis of report As the charity trustees of the company (and also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Acl and are eligible for independent examination, I report in respect of my examination of your company's accounls as carried oul under section 145 of the Charities Act 2011 I'the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145{5)Ib> of the 2011 Act. Independent examiner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the company as required by section 386 of the 2006 Act., or the accounls do not accord with those records.. or the accounts do not comply with the accounling requirements of s8clion 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination., or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounling and reporting by charilies applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Mark Harwood FCA BFP FMAAT Michael Harwood & Co Chartered Accountants Greville House 10 Jury Street Warwick CV34 4EW Date.. i¢l T{U 20Lf
Page 9 JUBILEE- LEAMINGTON STATEMENT OF FINANCIAL ACTIVITIES (Incorporating the Income and Expenditure Account) st For the year ended 31 December 2024 (Restated) (Restated) (Restated) 2023 2023 2023 Unrestricted Restrictod Total 2024 2024 Note Unrestricted Restricted 2024 Total Income from: Donations and legacies Income from solar panels Other income 48.195 6,384 133 65 48,260 6,384 133 54,097 6,655 20 65 54,162 6,655 20 TOTAL INCOME 54,712 65 54,777 60,772 65 60,837 Expenditure on: Charitable aclivities Other costs 42,810 2,070 65 42,875 2,070 35,070 2.040 20,739 55,809 2,040 TOTAL EXPENDITURE 44,880 65 44,945 37.110 20,739 57,849 NET INCOMEI(EXPENDITURE} for the year before transfers 9,832 9,832 23,662 (20,674) 2,988 Transfers between funds (20,674) 20,674 Net movement In funds for the year 9,832 9,832 2,988 2,988 Fund balances brought forward 305,402 305,402 302,414 302,414 FUND BALANCES carrlod forward 315.234 315,234 305,402 305,402 The notes on pages 11 to 17 form an integral part of the accounts.
Page 10 JUBILEE- LEAMINGTON BALANCE SHEET As at 31st December 2024 2024 2023 (Restatad) Note FIXED ASSETS Tangible fixed assets 319,870 320,163 CURRENT ASSETS Debtors Cash at bank and in hand 9,203 59,260 10,612 63,375 68,463 73,987 CURRENT LIABILITIES Creditors 21,635 20.881 NET CURRENT ASSETS 46,828 53,106 TOTAL ASSETS LESS CURRENT LIA81LITIES 366,698 373,269 LONG TERM CREDITORS Bank loans due in more than one year 10 (51,464) (67,867) NET ASSETS 315,234 305,402 FUNDS OF THE CHARITY: Restricted funds Unrestricted funds 11 315,234 305,402 Total charity funds 315,234 305,402 For the year ending 31sl December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating lo small companies. Directors, responsibilities: The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect lo accounting records and the preparation of accounts. These financial statements have been prepared in accordance with the provisions applicable lo companies subject to the small companies, regime. The financial statements were approved by the directors on Ll.and signed on their behalf by.. Mr C Catto (Director) Mr K Mccaffery (Director) The notes on pages 11 to 17 form an integral part of the accounts.
Page11 JUBILEE- LEAMINGTON NOTES TO THE FINANCIAL STATEMENTS For the year ended 31st December 2024 ACCOUNTING POLICIES (a) Basis of Accounting and Going Concern Jubilee - Leamington is a charitable company limited by guarantee (Company no. 8601283 & Charity no. 1153252) and is therefore governed by a Memorandum and Articles of Association. The charity constitutes a public benefil entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Slatement of Recommended Practice applicable to charities preparing their accounts in accordance with th8 Financial Reporting Standard applicable in the UK and R8public of Ireland (FRS 102) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102}, th8 Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice. With the current level of unrestricted reserves and continued success of fundraising efforts, the Directors have reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, tha financial statements are prepared on a going concern basis under the hislorical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to Ihe nearest £1. (b) Income Both investment income and voluntary income are recorded when receivable. (c) Expendlture Expendilure is included on an accruals basis. Charitable activities include the direct cost of the activities and depreciation on related assets. (d) Fixed Assets Fixed assets are included at cost. There are no significant uncapitalised assets. Because of the specialised nature and use of the property and the charity's policy to maintain it in good condition, no depreciation is provided and the property is valued at cost, which is considered to be a fair value. Depreciation is provided to write off the cost, less any estimated residual values, of all other fixed assets over their estimated useful lives using the following rates: Improvements to Property- over 5 years Fixtures. Fittings & Equipment- over 3 years (e) The Charily is not registered for VAT and therefore all expenditure incurred includes Value Added Tax. (f) The Charity operates a defined conlribution pension scheme. Contributions payable in a year charged to Statement of Financial Activities.
Page 12 JUBILEE- LEAMINGTON NOTES TO THE FINANCIAL STATEMENTS (Continued) For the year ended 31#1 December 2024 ACCOUNTING POLICIES (Continued) (g) Fund Accounting The Charity maintains a general unrestricted 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 to finance both working capital and capital investment. Restricted funds are provided to the Charity for particular purposes, and it is the policy of the Board of Trustees to carefully monitor the application of those funds in accordance with the restrictions placed upon them. (h) The Charity has elected to apply Ihe provisions of Section 11 of FRS102 'Basic financial Instruments, to all its financial instruments. Financial instruments are recognis8d in the Charity's Balance Sheet when the Charity becomes party lo the contractual provisions of the instrument. Basic financial assets include deblors, cash and bank balances which are measured at transaction price including transaction costs. Basic financial liabilities are creditors and accruals and bank loans. Creditors and accruals are measured at transaction price (cash or expected settlement amount). Bank loans are measure at amortised cost. (f) Taxation The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore il meets the definition of a charitable company for UK corporation lax purposes. (g) Golng Concern The financial statements have been prepared on a going concern basis as the Iruslees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising ihese financial stalements. The budgeted income and expenditure is sufficienl with the level of reserves for the charity to be able to continue as a going concern. CHANGE IN ACCOUNTING POLICY The valuation and depreciation policy of Freehold Property fixed assets has been changed as it is deemed to provide a more accurate position.. Previous policy - depreciale over 50 years New policy - not depreciated as the fair value is deemed to be in excess of cosl This has resulted in the following changes to the prior year comparative figures: New policy Old policy Depreciation Charitable activities expenditure Net movement in funds Fund balances brought forward Fund balances carried forward Tangible fixed assets 802 55,809 2,988 302,414 305,402 320,163 7,199 62,206 {3,409) 244,837 241,428 256.189
JUBILEE - LEAMINGTON Page 13 NOTES TO THE FINANCIAL STATEMENTS (Conlinued) For the year ended 31st December 2024 DONATIONS AND LEGACIES 2024 2024 Unrestricted Restricted 2024 2023 2023 Total Unrestricted Restricted 2023 Total Donations Gift Aid reclaim 40,238 7,957 65 40,303 7,957 44,261 9,836 65 44,326 9,836 48,195 65 48,260 54,097 65 54,162 CHARITABLE ACTIVITIES EXPENDITURE (Rastated) (Restated) (Restated) 2024 2023 2023 2023 Total Unrestricted Restrlcted Total 2024 2024 Unrestricted Restricted Church aclivities and running costs Tithes and gifls Staff costs (note 6) Insurance Computer expenses Training Travel and subsistence Postage and stationery Telephone Depreciation 17,040 991 18,525 953 1,102 1,946 614 423 923 293 65 17,105 991 18,525 953 1,102 1,946 614 423 923 293 2,661 861 25,223 1,086 1.028 1,738 346 35 1,290 802 20,739 23,400 861 25,223 1,086 1,028 1,738 346 35 1,290 802 42,810 65 42,875 35,070 20,739 55,809 OTHER COSTS 2024 2024 Unrestricted RestrScted 2024 2023 2023 Total Unrestricted Restrlcted 2023 Total Independent Examiner 2,070 2,070 2,040 2,040 2,070 2,070 2,040 2,040
Page 14 JUBILEE- LEAMINGTON NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 December 2024 STAFF COSTS 2024 2023 Gross wages Employer's national insurance Pension costs 12,457 19,155 6,068 6,068 18,525 25,223 Average number of ernployees No employee earned £60,000 per annum or more. TANGIBLE FIXED ASSETS (Restated Freehold Property Furniture & Property Improvements Equipment Total Cost At 1st January 2024 Additions 319,870 153,540 20,099 493,509 At 31$1 December 2024 319,870 153,540 20,099 493,509 Depreclatlon At 1Jl JanL'2ry 2024 Depreciation for the year 153,540 19,806 293 173,346 293 At 31S1 December 2024 153,540 20,099 173,639 Net BoDk Value At 31st December 2024 319,870 319.870 At 31st December 2023 319,870 293 320,163 These assets were all used for the charitable purposes of the church. Tangible fixed assets with a net book value of £319,870 {2023 £320,163) have been pledged as security for liabilities of the charities.
Page 15 JUBILEE - LEAMINGTON NOTES TO THE FINANCIAL STATEMENTS (Continued) st For the year ended 31 December 2024 DEBTORS 2024 2023 Accrued income Prepayments Social security and other taxes 7,955 972 276 9,552 1,060 9,203 10,612 The accrued income figure is in the relalion to gift aid not yet claimed. CREDITORS: amounts falling due within one year 2024 2023 Bank loans Social security and other taxes Accruals Other creditors 18,649 17,758 24 2,076 1,023 2,076 910 21,635 20,881 Creditors falling due within one year include secured creditors £18,649 (2023.. £17,758) 10. CREDITORS: amounts falllng due after one year 2024 2023 Bank loans.. Due in more Ihan one year but not more than two years Due in more Ihan two years but not more Ihan five years 18,650 32,814 17,758 50,109 51,464 67,867 Creditors falling due in more than one year include secured creditors of £51,464 {2023.. £67,867). These loans are repayable in 2028.
Page 16 JUBILEE - LEAMINGTON NOTES TO THE FINANCIAL STATEMENTS (Continued) For the year ended 3111 December 2023 11. MOVEMENT ON FUNDS (Restated) Balance at 01.01.2024 Income in year Expenditure in year Balance at 31.12.2024 Transfers Unrestricted funds General funds 305,402 54,712 (44,880) 315,234 Total unrestricted funds 305,402 54,712 (44,880) 315,234 Restricted funds Building Fund 65 (65) Total restricted funds 65 {651 Total funds 305,402 54,777 {44,945) 315,234 12. ANALYSIS OF NET ASSETS BETWEEN FUNDS Tangible Current Flxed Assets Assets Current Non-current Liabilities Liabilities Total At 31•t December 2024 Restricleé funds Unrestricted funds 319,870 68,463 (21,635) {51,464) 315,234 319,870 68,463 (21,635) (51.464) 315,234 At 3181 December 2023 (Restated) Restricted funds Unrestricted funds 320,163 73,987 (20,881) (67,867) 305,402 320,163 73,987 {20,881) (67,867} 305,402
Page 17 JUBILEE - LEAMINGTON NOTES TO THE FINANCIAL STATEMENTS (Continued) For the year ended 31st Dec8mbèr 2023 13. RELATED PARTY TRANSACTIONS One of the directorsllrustees, Rev Kim Mccaffery. received a part-time salary of £9,002 {2023.. £12,397) and was reimbursed expenses of £4,965 {2023'. £3,624) for his employment as a minister of religion (church leaderl in accordance with the Articles of Association. No salary was paid for the role of directorltrustee. Retirement benefits are accruing under defined ¢ontribulion scheme for Rev Kim Mccaffery. His wife Rev Elizabeth Mccaffery received a part-time salary of £3,000 (2023.. £3,507) and was reimbursed expenses of £nil (2023: £98) for her employment as a minister of religion (church leader). Retirement benefits are accruin9 under defined contribution schames for Rev Elizabeth Mccaffery. Mr Philip Dowling received a part-time salary of £nil12023'. £3,250) and was reimbursed 8xpenses of £nil12023'. £1 ,714) for his employment as a minister of religion. In accordance with the Articles of Association no directorslrelated parties are involved in the decision making and setting of remuneration packages. No Directorrrrustee was paid more than £60,000 per annurn. The total amount ofdonations received from Trustees during the year without conditions amounted to £21,620 (2023.. £22,887).