Electronically signed using Capium on 1610912025 at 02:23:41 PM 2024 Registered Charity No. 1155973 The David House ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS for the year ended 31 December 2024
The David House CONTENTS OF THE TRUSTEES REPORT AND ACCOUNTS for the year ended 31 December 2024 Page(s) Legal & administrative details Report of the Trustees 4t05 Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 9t014
The David House LEGAL & ADMINISTRATIVE DETAILS for the year ended 31 December 2024 Trustees J Urquhart D Hoffbrand S Lewis Charity number- England and Wales 1155973 Charity number- Scotland SC052345 Registered office Unit 6 Blackworth Court Highworth SN6 7NS Bankers National Westminster Bank PLC 84 Commercial Road Swindon Wiltshire SN15NW Independent examiner Rachel Kavanagh FCA Va Zip Accounting 5 Oak Tree Drive Liss Hampshire GU33 7HW
The David House REPORT OF THE TRUSTEES for the year ended 31 December 2024 The trustees present their annual report and financial statements for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out in Note 1 to the financial statements and comply with the charitvs governing document. OBJECTIVES AND ACTIVITIES Objectives and aims The objects of the charity are to advance the Christian religion for the benefit of the public in such parts of the United Kingdom and the world as the trustees may from time to time think fit in accordance with the teachings of the Christian faith as expressed in the Bible. Public benefit In planning our activities the trustees keep in mind the Charity Commission guidance on public benefit at their trustee meetings, in view of the charitys objectives to advance the Christian religion for Ihe benefit of the public in accordance with the teachings of the Christian faith as expressed in the Bible. The work of the charity has continued to operate in accordance with these aims. seeking to promote public benefit through the charitys activities. ACHIEVEMENT AND PERFORMANCE Charitable activities The charity has had regular communications wth the supporter base through quarterfy mailings. including a series of articles and ministry reports written and compiled by Piers Arthur Crow. This communication has taken place both in printed form and by electronic means. In addition, the charity has hosted regular meetings on Zoom where existing Christians have been taught and encouraged in their faith. New web-based resources are also being developed and hosted on www.the davidhouse.org and www.onenewman.org. Piers continued to develop the teaching nerk in Eastern Europe through a conference held in Budapest for Hungarian Christians. Through Ukrainian contacts we were able to hold small gatherings of leaders in breakfast meetings from city to city. This enables more leaders to gather at less cost whilst lowering the barrier to involvement by hosting events in a number of cities. FINANCIAL REVIEW Review of the charity's financial position at the end of the period Net incomel(expenditure) before investment gains in the year was a deficit of £4,173, reflecting the fall in giving this year as a result of less giving towards Ukrainian projects. Also expenditure was increased by repairs and renewals in the rent properties including the need to fit a new boiler in the Mearn Street property. Cash held at the balance sheet date was £102,704, with closing reserves of £606.455, which included accumulated gains and losses on investment propety of £230,249. Investment policy and objectives The charitvs excess funds are retained in an interest bearing account with the charitls bankers. The charity continues to function successfully. The charity has continued to raise funds from generous donors and these funds have been disbursed successfully to make significant progress with its objectives. The investment properties continue to generate rental income lo further support the activities of the charity.
The David House REPORT OF THE TRUSTEES (CONT'D) for the year ended 31 December 2024 Reserves policy The trustees consider that the charity should aim to hold unrestricted cash of no less than £25,000, which is considered sufficient to cover the following contingencies in order to facilitate the winding down of its operations whilst minimising the inconvenience to stakeholders in the event of the charity ceasing to operate on a permanent basis.. sufficient funds to meet any liabilities arising from redundancies-, three months non-staffing costs to enable termination of contracts with suppliers of goods and servIs. At the year end, the charity held unrestricted cash of £102.704 and the charity is complying with its reserves policy. FUTURE PLANS The trustees intend to continue focussing on developing good relationships with mainstream and messianic church leaders in the UK and Europe. With the view to spreading more widely Christian teachings on the roots of the Christian faith from the whole Bible. The charity will also look to develop new and innovative ways of using our contact with supporters and other means to educate and encourage the Christian community. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is a CIO (Charitable Incorporated Organisation) controlled by its conslitution registered on 28th February 2014. Recruitment and appointment of new trustees Trustees are recruited as needed from a diverse number of backgrounds. Each trustee has relevant experience and a wide skills base vthich they bring to their service. In the event of particular skills being lost due to retirements, individuals are approached to offer themselves for election to the board of trustees. They are then invited to attend the next board meeting as an observer. They are then given time to consider prayerfully their willingness to stand for election. They are elecled to the board of trustees by a vote taken by the existing trustees. Organisational structure The charity has a board of trustees comprising three trustees. The trustees are responsible for the strategic direction and policy of the charity, and have control of the charity and its property and funds. Existing trustees may appoint additional trustees to their number. at any time. providing the total number of trustees is a minimum number of three and a maximum number of six individuals. The current trustee board consists of Jane Urquhart. David Hoffbrand. and Simon Lewis. Induction and training of new trustees Once trustees are appointed, time is taken to familiarise them with the praCtIS and requirements relating to them as trustees. They are also made familiar with all aspects of the charitls work and financial situation. Any further training or induction takes place as the need arises. APPROVAL This report was approved by the trustees and signed on their behalf by.. Simon Lewis S Lewis (Trustee) 1610912025 02:23 Date:
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF The David House for the year ended 31 December 2024 I report to the trustees on my examination of the accounts of The David House ('the charity) for the year ended 31 December 2024 on pages 7 to 14 following. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act')- I report in respect of my examination of the charivs accounts Caled out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. 1. accounting records were not kept in accordance with section 130 of the 2011 Act- or 2. the accounts do not accord with the accounting records. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. Rachel Kavanagh FCA Chartered Accountant (ICAEW) Ua Zip Accounting 5 Oak Tree Drive Liss Hampshire GU33 7HW 16/09/2025 02..23 Date..
The David House STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 December 2024 Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Notes Income: Donations and legacies Investment income 48,831 41.067 26,266 75,097 41.067 143.994 36,740 Gross income 89.898 26.266 116.164 180.734 Expenditure: Charitable activities Furtherance of the gospel & pnjvision of humanitarian aid 75.514 44,823 120,337 148,946 Total expenditure 75,514 44,823 120,337 148,946 Net incomel(expenditure) before investment gains 14,384 (18.557) (4,173) 31,788 Net gains on investments 230,249 230,249 Net incomel(expenditure) 244,633 (18.557) 226,076 31,788 Transfers between funds 11 (18,557) 18,557 Net movement in funds 226,076 226,076 31,788 Reconciliation of funds: Total funds brought forward 11 380,379 380,379 348,591 Total funds carried forward 606,455 606,455 380,379 The notes on pages 9 to 14 fomi part of these financial statements
Charity number: 1155973 The David House BALANCE SHEET as at 31 December 2024 Notes 2024 2023 Non£urrent Assets Investment assets 503,188 503,188 272,939 272,939 Current Assets Debtors Cash at bank and in hand 1.038 102,704 103,742 18,922 89,337 108,259 Creditors Amounts falling due within one year (475) {819) Net Current Assets 103,267 107,440 Total Assets less Current Liabilities 606,455 380,379 Creditors Amounts falling due after more than one year Net Assets 606,455 380,379 Funds Unrestricted funds Restricted funds 11 11 606,455 380,379 Total Funds 606,455 380,379 The charity was entitled to exemption from audit in accordance with the Charities Act 2011 and the members have not required the charity to obtain an audit. The trustees acknowledge their responsibilities for complying with ihe requirements of the Charities Act 2011 with respect to accounting records and the preparation of accounts. 16/09/2025 02..23 The financial statements were approved by the Board of Trustees on and were signed on its behalf by: Simon Lewis S Lewis Trustee The notes on pages 9 to 14 form part of these financial statements
The David House NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 ACCOUNTING POLICIES a} Basis of preparation These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwse stated in the relevant note(s) to these accounts, and the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014), and with the Charities Act 2011. The charity constitutes a public benefit entity as defined by FRS 102. The principal accounting policies adopted are set out below. b) Recognition of income Income is included in the Ststement of Financial Activities (SOFA) when.. the charity becomes entitled to the resources- it is more likely than not that the trustees will receive the resOurS-, and . the monetary value can be measured with sufficient reliability. c) Offsetting There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102. d) Grants and donations Grants and donations are only included in the SOFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP). e) Tax reclaims on donations and gifts Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise. fj Support costs The charity has incurred expenditure on support costs. g) Investment gains and losses This includes any realised or unrealised gains or losses on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year. h) Liability recognition Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
The David House NOTES TO THE FINANCIAL STATEMENTS (CONT'D) for the year ended 31 December 2024 ACCOUNTING POLICIES (CONT'D) i) Governance and support costs Support costs have been allocated beeen governan costs and other support. Governance costs comprise all costs involving public accountsbility of the charity and its Complian with regulation and good practice. j) Redundancy cost The charity made no redundancy payments during the reporting period. k} Deferred income No material item of deferred income has been included in the accounts. l) Creditors The charity has creditors which are measured at settlement amounis less any trade discounts. m) Investment properties Investment properties are valued initially at cost and subsequently at fair value (their market value) at the year end. Any surplus or deficit arising from changes in fair value is recognised within the Statement of Financial Activities. n) Debtors Debtors are measured on initial recognition at settlement amount or amount advanced by the charity. Subsequently they are measured al the cash or other consideration expected to be received. 10
The David House NOTES TO THE FINANCIAL STATEMENTS (CONT'D) for the year ended 31 December 2024 Analysis of income Donations and legacies 2024 2023 Donations and gifts Gift Aid 66.790 8,307 75,097 127,780 16,214 143,994 Investment income 2024 2023 Rental income 41,067 41,067 36,740 36,740 All income in the prior year was unrestricted except for income relating to Ukraine Projects. Refer to Note 11 for further details. Analysis of Expenditure Charitable activities Furtherance of the gospel & provision of humanitarian aid 2024 2023 Salaries Social security Direct office costs Postage and stationery Sundries Travel and subsistence Ukraine projects ONM projects 17,760 225 4.841 2.035 305 2,378 44,897 32,866 105.307 21,328 7.814 696 9,676 2.187 59,105 38,238 139,043 Su ort costs: Furtherance of the gospel & provision of humanitarian aid Management Indirect office costs Insurance Repairs and maintenance 951 1.917 10,465 13,333 255 2,349 5,802 8,406 Finance Bank charges 647 647 Governance costs Trustee expenses Independent examiner's fee Other legal and professional fees 177 475 398 1,050 120.337 212 408 877 1,497 148,946
The David House NOTES TO THE FINANCIAL STATEMENTS (CONT'D) for the year ended 31 December 2024 Staff costs 2024 2023 Salaries and wages Social security costs Pension costs (defined contribution scheme) Other employee benefits Total staff costs 17,760 225 21.328 17,985 21,328 No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000. Total remuneration of £17,760 (2023: £21.328) was paid to key management personnel for their services to the charity. For specific amounts paid to trustees, refer to Note 10. Average head count During the year the average number of employees was as follows: 2024 2023 Governance Investment assets Investment properties Carrying (fair) value at 1 January 2024 Additions to investments during period Disposals at carrying value Net gain on revaluation Carrying (fair) value at 31 December 2024 272,939 230,249 503,188 Fair value at year end 503,188 503,188 Cost less impairment 272,939 272.939 Analysis of investments (this year) Investment properties Total Fair value at year end 272,939 272,939 Cost less impairment 272,939 272,939 Analysis of investments (last year) Investment properties Total Accumulated gains and losses on investment property at the year end was £230,249 (2023: £nil). Properties purchased within the last 5 years are held at purchase price which is considered to be a reasonable estimation of the current market value. For those properties held for a longer period. a market appraisal has been carried out by an estate agent based on the market rent generated by the property. 12
The David House NOTES TO THE FINANCIAL STATEMENTS (CONT'D) for the year ended 31 December 2024 Debtors 2024 2023 Prepayments and accrued income Other debtors 1,012 26 1,038 898 18,024 18,922 Amounts due after more than one year included above Amount of cOnSsiOnary loans included above 18,000 1. A concessionary loan was granted bythe trustees on 6th July 2023 to an individual. The loan was repayable on demand. and repayable in full no later than 1 January 2025. The loan was not interest bearing. As at 31 December 2024 the loan has been repaid in full. Creditors 2024 2023 Accruals and deferred income 475 475 819 819 13
The David House NOTES TO THE FINANCIAL STATEMENTS (CONT'D) for the year ended 31 December 2024 10. Trustees and related parties There were no trustees. remuneration or other benefits for the year ended 31 December 2024, nor for the prior year. A total of £177 {2023: £212) was paid to a trustee for reimbursement of subsistence expenses. There were no related party transactions in the year ended 31 December 2024, nor in the prior year. Movement in funds At31 December 2023 Incoming resources Resources expended At31 December 2024 Transfers Gains and losses Unrestricted funds General fund 380,379 380,379 89,898 89,898 75,514 75,514 18,557 18,557 230,249 230,249 606,455 606,455 Restricted funds Ukraine Projects 26,266 26,266 44,823 44,823 18,557 18,557 Total funds 380,379 116,164 {120.337) 230,249 606,455 At31 December 2022 Incoming resources Resources expended Gains and losses At31 De¢ember 2023 Transfers Unrestricted funds General fund 348,591 348,591 124.644 124,644 (89,841) 89,841 {3,015) 3,015 380.379 380,379 Restricted funds Ukraine Projects 56.090 56.090 59,105 59,105 3,015 3,015 Total funds 348,591 180,734 148.946 380,379 1. Ukraine Projects relates to the ongoing ministry of the One New Man Nehvork within the region. In addition, the charity has been providing emergency aid and support to the people of Ukraine since the beginning of the war. 14