ISLE OF WIGHT CHRISTIAN FELLOWSHIP
ACCOUNTS FOR THE YEAR TO 31°’ MARCH 2025
CHARITY NO. 1156683
ISLE OF WIGHT CHRISTIAN FELLOWSHIP
Contents of the Accounts for the Year to 31“' March 2025
Pages 1-3 - Annual Report of the Trustees Page 4 - Statement of Financial Activities Page 5 - Balance Sheet Pages 6 —9Notes to the Accounts Page 10 - Independent Examiners Report
Charity Information
Bankers
HSBC 101 St James Street Newport Isle of Wight PO30 1HX
CAF Bank Ltd 25 Kings Hill Avenue, Kings Hill, West Malling, Kent. ME 19 4JQ
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Stewardship 1 Lamb's Passage London ECLY 8AB
Independent Examiner
Lisa Lawley
Current Trustees (as at date of approval)
Mr Peter Rudd Ms Sarah Brown Mrs Claire Henretty Mr Christian Beasley Mr Hugh Wells
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ISLE OF WIGHT CHRISTIAN FELLOWSHIP
Annual Report for the year to 31‘' March 2025
The Isle of Wight Christian Fellowship is a registered charity, No.1156683. The registered address is 26 Queens Road, Newport, Isle of Wight. The legal constitution is a Charitable Incorporated Organisation registered as a body corporate under Part 11 of the Charities Act 2011; the organisation was incorporated on 14"" April 2014. The trustees of[the][charity][during][the][year][to][3][ 1°] March 2025 were as follows:
Mr Peter Rudd Ms Sarah Brown Mrs Claire Henretty Mr Christian Beasley Mr Hugh Wells (appointed 16"" January 2025)
Objects
The main objects of the charity are the furtherance of Christianity and the relief of poverty in accordance with the constitution.
Governance and leadership
The charity has a board of trustees, who meet three times per annum; additional meetings are called if business requires it. The constitution also allows electronic communication. Financial decisions are made by the trustees including decisions over the appointment of charity employees, the associated legal responsibilities of an employer are discharged by the trustees. The trustees are unpaid and received no remuneration during the period. New trustees are appointed solely through election by the existing trustees.
Day to day spiritual leadership comes from a team of church leaders including two full time employees, Pastoral Lead and Operations Manager; one of the trustees is on the aforesaid church leadership team and periodically the chair of trustees attends the church leaders’ meetings.
Reserves It is not the intention of the trustees to build up general (unrestricted) reserves beyond a point that secures the charity’s ability to meet its financial obligations including securing the ability to respond to identified risks. If income were to regularly exceed expenditure, generating unneeded reserves, the trustees would look to prudently support other charities or organisations that carry out activities that are in line with the charity’s objectives. It is more likely however that the church would look to expand its capacity to deliver the charity’s objects.
The charity purchased a long lease for £160,000 in January 2015 providing the charity with its first building. The charity refurbished the old cinema to the point that it could be used for the first time in April 2017 for a Sunday service. The charity used the majority of its cash reserves up to April 2017 to get the building ready to use and since has built up the unrestricted cash reserves to allow for ongoing maintenance and to complete the final renovations. A £175,000, 15 year variable rate mortgage was taken out to assist with the purchase and refurbishment. £9,580 was paid off the loan during the year leaving a balance of£74,478 (2024 - £84,058) owing at the year end.
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ISLE OF WIGHT CHRISTIAN FELLOWSHIP
Annual Report for the year to 31‘ March 2025
Reserves and property developments (continued)
Review of the Period
Services were held each Sunday at 10:30 am based at the charity premises together with other regular activities throughout the week. The numbers of church regular attendees increased during the year which is encouraging especially seeing lives changed through people committing their lives to Jesus Christ. The long standing church Pastor retired in October 2024. A new employee, taking the title of Pastoral Lead, was appointed and he started in October 2024 providing pastoral leadership, high quality biblical teaching and vision. The Operations Manager continued to be employed full time throughout the year with duties including overseeing of the day to day running of the building, organising services, leading on communications, including digital media, making a significant contribution to the smooth running of the charity. The Pastoral assistant continued to work for the charity on a part time basis providing pastoral support to members of the church and the local community.
| TC h ristiane charityFaith continuedand thetoprovision operate theof rel min i stryefto the ‘LovepoorBulgaria’in Bulgaria.thatAfocusesteam visited on the promotionBulgaria during ofthe | 2024 successfully promoting the Christian faith whilst supporting local churches. The team were with their work in the local communities; £8428 was distributed. Love Bulgaria is registered with | able to financially support people in poverty and to pass funds to trusted church partners to assist as restricted and is used solely for that ministry. It is unlikely that the funding raised for Love | the Charity Commission for England and Wales and any funds collected under this name is treated | charityBulgariathat willfocuses exceed £10,000its activities perin annumthe Isle andof Wight. will remain a small facet of the overall work ofthe The charity is jointly supporting the cost of the employment of . of other churches based in Newport on the Isle of Wight. This youtha youthworker works worker along withwith young a number people living in Newport including engagement and development, he also links up with other Christian and non-Christian groups that support young people. | A number of other Christian outreach organisations are regularly financially supported, including ! the Isle of Wight branch of Youth for Christ and Jesus Witnesses Caravan Outreach. 1 During the year the charity made a surplus of income over expenditure of £24,237 (2024 - £8,496), the unrestricted surplus was £21,022 (2024 - £6,279). The Trustees consider the state of the charity’s financial affairs to be satisfactory, with unrestricted reserves totalling £546,594 (2024 - | £525,572) at the year end. The balance of restricted funds is £8,210 (2024 - £4,995). | The Trustees are satisfied that the charity will continue as a going concern for the foreseeable future | with likely future income being able to cover future expenditure commitments. |
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ISLE OF WIGHT CHRISTIAN FELLOWSHIP
Annual Report for the year to 31" March 2025
Review of the Period (continued)
Income and Expenditure
The majority of income received by the charity was made up from tithes and offerings given by the congregation. The tithes and offerings were given under gift aid and general giving. The total unrestricted income was £191,412 (2024 - £152,490). Unrestricted expenditure amounted to £170,390 (2024 - £146,212) leaving an unrestricted surplus of £21,022 (2024 - £6,278). Expenditure putting on events increased over the previous year as the new staff team expanded activity levels and additional training was provided to church members. Costs of maintaining the building increased with the costs of utility pricing taking effect following the ending ofa fixed price deal, electrical repairs and improvements after the 5 year fixed wiring check. Restricted funds showed net income of £3,215 (2024 - net income £2,218). Details of the movements of restricted funds are shown in a table on page 5. The financial objectives for the year were to continue to maintain the financial reserves of the charity to maintain resilience, to fund further improvements to the building and to increase the level of support for Christian outreach and financial support for those in poverty. The Trustees prioritised the use of funds to delivering its direct charitable objects and then to pay running costs and servicing the building loan whilst building up a cash reserve including to have funding to pay for unexpected building repairs.
Insulation was added to the building roof in the summer of 2025 which it is planned to compliment further building refurbishment once funds allow, in particular the installation of ventilation/cooling.
Surplus funds are deposited with the Charities Aid Foundation (CAF) in the interest bearing Gold Deposit Account. This investment is secure and has generated modest levels of interest. £98,656 (2024 - £71,920) was held in the Gold Deposit Account at the end ofthe[year.]
Peter J Rudd —Trustee For and on behalfof the Trustees
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ISLE OF WIGHT CHRISTIAN FELLOWSHIP
Statement of Financial Activities for the Year to 31°’ March 2025
| Unrestricted Notes Funds |
Unrestricted Notes Funds |
Restricted Funds |
Total | Year to 31/03/2024 |
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|---|---|---|---|---|---|
| Income & Expenditure | £ | £ | £ | ||
| Incoming Resources | |||||
| Donations and legacies | |||||
| Donations and gifts Legacies |
162,642 - |
15,015 - |
177,657 - |
= 138,632 - |
|
| Gift Aid | 18,663 | 1,905 | 20,568 | 22,615 | |
| Interest income | 2 | 2,753 | - | 2,753 | 2,278 |
| Rental income | 1,825 | - | 1,825 | 1,550 | |
| Other receipts | 5,529 | - | 5,529 | 5,125 | |
| Total Incoming Resources | 191.412 | 16,920 | 208,332 | 170,200 | |
| Resources Expended | |||||
| Expenditure on charitable activities | |||||
| Ministry gifts | 1,911 | - | 1,911 | 400 | |
| Other gifts | 2,446 | 9,030 | 11,476 | 11,118 | |
| Mission support | 7,450 | 6 | 7,456 | 5,522 | |
| Ministry salaries | 5 | 83,552 | 4,609 | 88,161 | 84,528 |
| StaffTraining Meeting Hall Hire |
30 400 |
- ; |
30 400 |
1196 - |
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| Literature, Tapes and Software | 6,130 | - | 6,130 | 2,857 | |
| Material forchildren’swork | 741 102,660 |
- 13,645 |
741 116,305 |
754 106,375 |
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| Other Expenditure | |||||
| Church Management& Administration | 3 | 10,829 | 60 | 10,889 | 10,491 |
| Church Building Running Costs | 4 | 56,901 | - | 56,901 | 44,838 |
| Total Resources Used | 170,390 | 13,705 | 184,095 | 161,704 | |
| NetIncome | 21,022 | 3,215 | 24,237 | 8,496 | |
| Transfers between funds | - | - | - | - | |
| Net movement in funds | 21,022 | 3,215 | 24,237 | 8,496 | |
| Reconciliation of Funds: | |||||
| Total fundsbrought forward | 525,572 | 4,995 | 530,567 | 522,071 | |
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| Totalfundscarriedforward | £546,594 | £8,210 | £554,804 | £530,567 |
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The Notes on pages 6 to 9 form part ofthese accounts
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ISLE OF WIGHT CHRISTIAN FELLOWSHIP
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|Balance|Sheet|as|at|31“|March|2025|
|Notes|2024/25|2023/24|
|Fixed|Assets|£|£|
|Tangible|assets|7|502.472|504.298|
|Total|fixed|assets|502.472|504.298|
|Current|Assets|
|Stock|400|400|
|Debtors|38.000|41,000|
|Prepayments|100|2.425|
|Cash|at|bank|and|in|hand|124.444|86.015|
|Total|current|assets|162.944|129.840|
|Creditors:|Amounts|Falling|Due|
|Within|One|Year|
|Creditors|and|accruals|(|48,997)|(|34,026)|
|Net|Current|Assets|113.947|95,814|
|Total|assets|less|current|liabilities|616,419|600,112|
|Creditors:|Amounts|Falling|Due|
|After One|Year|8|(|61,615)|(|69,545)|
|Total|Net|Assets|554,804|530,567|
|Funds|of|the|Charity|
|Unrestricted|funds|546,594|525.572|
|Restricted|income|funds|8.210|4.995|
|Total|funds|554,804|530,567|
|RESTRICTED|FUNDS|Property|Income|Expenditure|Balance|c/f|
|Transferred|£|
|£|£|£|
|Employment|—|Pastoral|Assistant|-|4,608|(4,608)|-|
|Ukraine|refugee|support|175|-|-|175|
|Love|Bulgaria|funds|3,820|5,393|(8,428)|785|
|Training|Mission|Sponsor|1,000|-|-|1,000|
|Building|ventilation|5,000|5,000|
|Equipment|purchase|1,250|1,250|
|Child|sponsorship|-|6|(6)|-|
|Financial|support|663|(663)|
|Bor|4,995|16,920|(13,705)|8,210|
|Peter|Rudd|-|Trustee|
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|Hugh|§|—|Chair|
|For|and|on|behalfof|the Trustees|
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| | 7 Income from interest | This is included in the accounts when receipt is probable and the amount can be measured | reliably.
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ISLE OF WIGHT CHRISTIAN FELLOWSHIP
Notes to the Accounts for the Year to 31°’ March 2025
Note 1: Basis ofpreparation
- 1.1 Basis of accounting
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
These accounts have been prepared in accordance with the Charities SORP (FRS 102) (second edition — October 2019) Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
Income
All income is recognised in the Statement of Financial Activities as it is received or when it is more likely than not that the trustees will receive the resources. There has been no offsetting of assets and liabilities or income and expenses, unless required or permitted by the FRS 102 SORP.
Grants
The charity hasn’t received any grants since its formation.
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.
Expenditure and liabilities
Liabilities are recognised as expenditure as soon as 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.
No material item of deferred income has been included in the accounts.
The charity has creditors which are measured at settlement amounts less any trade discounts.
A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date.
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ISLE OF WIGHT CHRISTIAN FELLOWSHIP
Notes to the Accounts for the Year to 31‘ March 2025 (cont.)
Tangible Fixed Assets
These are capitalised if they can be used for more than one year, and cost at least £100.
Buildings, freehold and long leasehold, are held at cost and are held for use by the charity. There is no intention to revalue these fixed assets however a review for impairment of a fixed asset will be carried out if events or changes in circumstances indicate that the carrying amount of the fixed asset may not be recoverable. Any impairment losses are recognised in the Statement ofFinancial Activities. It is the intention of the charity to maintain its buildings at a high level of repair and will therefore not be depreciated.
Depreciation on equipment is charged on original cost at a rate calculated to write down the cost of such assets over their estimated useful life. The rates used are as follows: Church Equipment 20% per annum straight line Administration Equipment 25% per annum straight line
Debtors
Debtors are measured at initial recognition at settlement amount or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
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1.2. Going Concern Going concern has been adopted as the basis for the production of the accounts as the charity’s financial forecasts and projections indicate that that it will be able to continue in operational existence for the foreseeable future.
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1.3 Taxation The charity is exempt from income tax on its charitable activities.
2.
Interest Received
| Interest Received | ||
|---|---|---|
| 2024/25 | 2023/24 | |
| CAF Cash Accounts | 1,733 | 1,446 |
| Inland Revenue | 1,020 | 832 |
| 2,753 | 2,278 |
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ISLE OF WIGHT CHRISTIAN FELLOWSHIP
Notes to the Accounts for the Year to 31°! March 2025 (cont.)
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| 3. | Church Management& Administration | ||
|---|---|---|---|
| 2024/25 | 2023/24 | ||
| Travel & conference expenses | - | 63 | |
| Printing, postage& stationery | 111 | ||
| Insurance | 1,428 | 1,340 | |
| Memberships& subscriptions | 501 | 661 | |
| Independent examiner’s fees | 80 | 400 | |
| Equipment repairs and renewals | 594 | - | |
| Mobile phones | 72 | 72 | |
| Depreciation | 6,754 | 6,789 | |
| Professional fees | - | 40 | |
| DBS check costs | 394 | 306 | |
| Bank charges | 299 | 331 | |
| Visitor subsistence | 497 | 46 | |
| Miscellaneous expenses | 159 10,889 |
443 10,491 |
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| 4. | Church Building Running Costs | ||
| 2024/25 | 2023/24 | ||
| Rates, light and heat | 5,882 | 3,812 | |
| Service charge | 17,390 | 17,829 | |
| Buildings insurance | 9,613 | 7,848 | |
| Mortgage interest | 6,001 | 6,225 | |
| Property cleaning and waste | 3,220 | 2,772 | |
| Property repairs | 8,434 | 929 | |
| Security& fire safety | 879 | 1,507 | |
| Lift service& safety check | 1,431 | 1,417 | |
| Minor furnishings | 3,407 | 1,984 | |
| Office telephone including internet | 644 | S15 | |
| 56,901 | 44,838 | ||
| 5. | Employees’ Remuneration | ||
| 2024/25 | 2023/24 | ||
| Gross salary costs | 76,551 | 73,485 | |
| Employers National Insurance costs | 6,694 | 6,375 | |
| Pensioncosts(definedcontributionscheme) | 4,916 | 4,667 |
No employees received employee for the reporting period of more than £60,000.
The charity continued to offer and contribute to a defined contribution pension scheme during the 2024/25 accounting year satisfying the requirements of Auto Enrolment.
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ISLE OF WIGHT CHRISTIAN FELLOWSHIP
Notes to the Accounts for the Year to 31“ March 2025 (cont.)
6. Trustees’ Remuneration, Expenses and Related Party Transactions
No remuneration nor expenses, directly or indirectly, was paid or was payable out of[the] funds ofthe charity for the period to any trustee.
7. Tangible fixed assets
| Tangible fixed assets | ||||
|---|---|---|---|---|
| Property | Church | Administration | Total | |
| Equipment | Equipment | |||
| Cost | ||||
| At 01.04.24 | 488,595 | 35,376 | 5,511 | 529,482 |
| Additions | - | 4,928 | - | 4,928 |
| Disposals | - | - | - | 7 |
| At 31.3.25 | 488,595 | 40,304 | 5.511 | 534.410 |
| Depreciation | ||||
| At 01.04.24 | - | 20,519 | 4,665 | 25,184 |
| Additions | - | 6,288 | 466 | 6,754 |
| Disposals | - | - | - | - |
| At 31.3.25 | - | 26,807 | 5,131 | 31,938 |
| Net Book Value 31.3.25 | 488,595 | 13,497 | 380 | 502,472 |
| NetBookValue31.3.24 | 488,595 | 14,857 | 846 | 504,298 |
The Charity purchased its first building in January 2015; a long leasehold with most of the accommodation located on the first floor. The building has been purchased to further the work of the charity, it is not held as an investment. The building is located at 26A High Street, Newport, Isle of Wight. PO30 ISS.
8. Long Term Liabilities
The charity has a mortgage, taken out with Stewardship, a lender that supports Christian charities, to purchase and refurbish the building at 26A High Street, Newport, Isle of Wight. All repayments and interest payments during the year were made as per the loan commitment with Stewardship. The interest rate is variable, ending the financial year at 7.9%. Repayments are monthly and started immediately after the initial drawdown in January 2015. The loan term is 15 years with the final repayment expected March 2030. A charge is held over the building by Stewardship.
|Loan|repayable over ||year|61,615|69,545|
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|Loan|repayable within|| year|12,863|14,513|
|Loan|repayable between
| and 5 years||61,615|61,564|
|Loan|repayable over 5|years|-|7,981|
|Total|loanrepayable||74,478|84,058|
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Independent examiner's report on the accounts
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Report to the trustees of — | [SLE OF WIGHT CHRISTIAN FELLOWSHIP
Onendedaccounts for theeyearyea | 318"1 MARCH 2025 Charity. no | 1156683
I report to the trustees on my examination ofthe accounts of the above Charitable
Incorporated Organisation (“the CIO”) for the year ended 31 March 2025.
Responsibilities and basis of As the charity's trustees, you are responsible for the preparation of [the] [accounts] [in]
report accordance with the requirements of the Charities Act 2011 (“the Act”).
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I report in respect of my examination of the CIO’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
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Independent examiner’s I have completed my examination. I confirm that no material matters have come statement to my attention in connection with the examination which gives me cause to believe that in, any material respect: e the accounting records were not kept in accordance with section 130 of[the] Charities Act; or
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e the accounts did not accord with the accounting records; or
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e the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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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
Name: LisA DiAreé LAWLEY
Relevant professional NVv@ 2 AccoURTS
qualification(s) or body
AdaresS: SA Weuesteq WAN, NEY25cT
TSU oF WiGuT Fo20 2GA
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