REGISTERED CHARITY NUMBER: 1156973 COMPANY REGISTRATION NUMBER: 08755707
HOME ST ALBANS
TRUSTEES REPORT AND ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
HOME ST ALBANS
INDEX TO THE ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
CONTENTS
Page
1 2-4 5 6 7 8-12
Legal and Administrative Information Report of the Trustees Independent Examiner's Report Statement of Financial Activities Statement of Financial Position Notes to the Accounts
HOME ST ALBANS
LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 30 SEPTEMBER 2024
| Charity name: | Home St Albans | |
|---|---|---|
| Charity registration number: | 1156973 | |
| Charity address: | Vaughan Chambers | |
| Vaughan Road | ||
| Harpenden | ||
| AL5 4EE | ||
| Trustees: | Gary Grant | (Resigned 29 October 2024) |
| Ruth Pitan | ||
| Marcus Risden | (Resigned 29 October 2024) | |
| Jemina Watts | ||
| Marcia Hall | (Appointed 29 October 2024) | |
| Linda John | (Appointed 29 October 2024) | |
| Adenike Olunloyo | (Appointed 29 October 2024) | |
| Lorena Jugo Alva | (Appointed 29 October 2024) | |
| Ashleigh Marie Underwood | (Appointed 29 October 2024) | |
| Joshua Gardner | (Appointed 29 October 2024) | |
| Tanya Anandanayagam | (Appointed 29 October 2024) | |
| Jeremiah Olunloyo | (Appointed 29 October 2024) | |
| Independent examiner: | Philip Dean FCA | |
| Hicks and Company | ||
| Chartered Accountants | ||
| Vaughan Chambers | ||
| Vaughan Road | ||
| Harpenden | ||
| AL5 4EE | ||
| Bankers: | National Westminster Bank plc |
Page 1
HOME ST ALBANS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024
The Trustees who are also the Directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 30 September 2024.
The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1st January 2019).
Objectives and Activities
Objectives and aims
Home St Albans exists to advance the Christian faith and support Christian initiatives across the UK and beyond. We do this through hosting prayer meetings, organising evangelistic and discipleship events, and partnering with local churches to reach and serve communities.
Significant activities
These are covered in the Achievements and Performance details below.
Public benefit
The trustees have paid due regard to the Charity Commissions Public Benefit Guidance and compiled with section 17(5) of the Charities Act 2011 in exercising their powers and duties, and have sought to demonstrate that the charity continues to provide benefits to suitable persons who relate directly to its objectives. The benefits are publicly available to all who qualify.
Achievements and Performance
Charitable activities
This year has marked a turning point in the life of our church. Through consistent in-person gatherings and the continued success of Home@Home, we’ve entered a season of renewed stability and connection. After navigating the turbulence of the cost-of-living crisis, it has been a true blessing to witness our community reawaken with strength and unity.
The Church continues to review internal processes to maintain the Church's sustainability. Home Church have been developing innovative ways to be able to carry on meeting and building back our community within the Hertfordshire area.
We continue to see communities flourish through an increased sense of relationship and belonging and this is something we will continue to do.
Future developments
The Church Lead Pastor who is guiding the church into an exciting season, leads with a constant increased focus on developing individuals, maintaining accountability and encouraging all to share the vision of having a heart for equality, diversity and inclusion.
Family Focus
This year’s theme, Strong Families, has shaped our direction and deepened our mission. Our vision is clear: to cultivate spiritually vibrant families who will strengthen the church and bring about transformation in the wider world through God's power. We’ve seen God move powerfully through baptisms, weddings, new discipleship groups, and the appointment of fresh Trustees. Our community is growing, not just in number, but in spiritual maturity—something we've long prayed for.
A highlight was the first C-12 Away Day, reminding our leadership team of our calling to serve humbly and lead with love Meanwhile, our pastors have been active in university outreach, and we continue to sponsor three children through World Vision's Chosen programme.
Exhale
The women's ministry, Exhale continues to serve the women in the Church. This annual conference is extremely beneficial to all of those involved. It really is a time set apart to restore and replenish the hearts, minds and souls of our ladies both within our Church and others who wish to take part. This will remain a strong point of focus in the future years ahead as we continue to build on past knowledge and experience to ensure we continue to meet the needs of this group of individuals.
Page 2
HOME ST ALBANS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024
Achievements and Performance continued
Overhaul
This summer, we launched Charity Begins at HOME, a practical initiative led by our social justice team and the Ladies at Home. Church members support others with small but meaningful jobs around their homes, strengthening bonds and sharing God’s love in everyday ways.
Mission
Our online presence—especially on YouTube—has flourished thanks to a dedicated and passionate social media team. While we celebrate this growth, there's a clear need to modernise our website to match our digital impact.
Financial Review
Financial position
Full details of the financial transactions are contained in the attached accounts. The total incoming resources for the year were £119,550 (2023: £111,624) and after deducting resources expended of £126,225 (2023: £119,693) the net expenditure of resources for the year was £6,675 (2023: expenditure of resources of £8,069).
Investment policy
Under the Memorandum and Articles of Association, the charity has the power to make an investment which the trustees see fit. The trustees have considered the most appropriate policy for investing funds to maximise interest on funds available.
Going concern
The trustees have reviewed the ongoing expenditure since the year end, together with the anticipated income and expenses for the next twelve months and are satisfied that it is appropriate to prepare the charity's accounts on the going concern basis.
The trustees are confident that future income will enable the charity to meet its foreseeable needs based on planned activity.
Reserves policy
The charity has a deficit on unrestricted reserves at the end of the reporting period of £568 (2023: surplus of £6,107). The trustees consider that, due to the exceptional nature of recent years, and the expected increase in donation income, the reserves can temporarily be reduced.
The trustees are working hard to improve the financial position of the charity, and believe that it will return to holding funds of at least three months' running costs within the next twelve months
Risk management
The trustees continue to assess and monitor the major risks to which they consider the charity is exposed particularly in relation to income and the maintenance of sufficient funds to meet future financial obligations.
Structure, Governance and Management
Governing document
Home St Albans is a registered charitable company limited by guarantee, which was initially incorporated and registered as a charity on 31 October 2013. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.
Organisational structure
The Trustees, who are directors for the purposes of Company Law and Trustees for the purpose of Charity Law, who served during the period are set out on page 1 of this report. The power of appointing new Trustees is vested in the existing Trustees of Home St Albans. The organisation will continue to strategically recruit new Trustees based on the skills and diversity of experience they can bring to Home St Albans.
Page 3
HOME ST ALBANS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024
Trustees' responsibilities statement
The Trustees, who are also Directors for the purposes of company law, are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period.
In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the applicable Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to demonstrate and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The report was approved by order of the Board of Trustees on 23 June 2025 and signed on its behalf by:
J.l Olunloyo
J Olunloyo Chairperson
Page 4
HOME ST ALBANS INDEPENDENT EXAMINERS' REPORT TO THE TRUSTEES OF HOME ST ALBANS FOR THE YEAR ENDED 30 SEPTEMBER 2024
Independent examiner's report to the trustees of Home St Albans
I report to the trustees on my examination of the financial statements of Home St Albans for the year ended 30 September 2024, which are set out on Pages 6 to 12.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the financial statements of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charites Act 2011 (the '2011 Act'). In carrying out my examination I have followed 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:
-
accounting records were not kept in respect of the Company as required under section 386 of the 2006 Act; or 2. the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair view' which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 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 financial statements to be reached.
Philip Dean FCA Hicks and Company Chartered Accountants Vaughan Chambers Vaughan Road Harpenden AL5 4EE
Date:
Page 5
HOME ST ALBANS STATEMENT OF FINANCIAL ACTIVITIES
(Incorporating an Income and Expenditure Account) FOR THE YEAR ENDED 30 SEPTEMBER 2024
| Note Income Grants and donations 3. Interest income Other Total income Expenditure Charitable activities 4. Governance cost 5. Total expenditure Net (outgoing) resources and movement in funds Reconciliation of funds Total funds brought forward Total (deficit)/funds carried forward 12. |
Unrestricted Restricted 2024 fund fund Total £ £ £ 119,410 - 119,410 2 - 2 138 138 119,550 - 119,550 125,445 - 125,445 780 - 780 126,225 - 126,225 (6,675) - (6,675) 6,107 - 6,107 (568) - (568) |
2023 Total £ 111,462 20 142 |
|---|---|---|
| 111,624 | ||
| 118,973 720 |
||
| 119,693 | ||
| (8,069) | ||
| 14,176 | ||
| 6,107 |
The notes on pages 8 to 12 form part of these financial statements.
All of the above results are derived from continuing activities. There are no other recognised gains or losses other than those stated above.
Page 6
HOME ST ALBANS
STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 2024
| Note Fixed assets Tangible assets 9. Current assets Debtors 10. Cash at bank Total current assets Current Liabilities Creditors: Amounts falling due within one year 11. Net current (liabilities)/assets Net (liabilities)/assets The funds of the charity: Unrestricted funds 12. |
Unrestricted Restricted fund fund 2024 £ £ £ 1 - 1 5,695 - 5,695 1,539 - 1,539 7,234 - 7,234 7,803 - 7,803 (569) - (569) (568) - (568) (568) - (568) |
2023 £ 320 5,137 3,801 |
|---|---|---|
| 8,938 | ||
| 3,151 | ||
| 5,787 | ||
| 6,107 | ||
| 6,107 |
For the year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statement 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 to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
The notes on pages 8 to 12 form part of these financial statements.
The financial statements were approved by the Board of Trustees on 23 June 2025 and were signed on its behalf by:
J.l Olunloyo
J Olunloyo Chairperson
Company registration number: 08755707
Page 7
HOME ST ALBANS NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
1. Status and Basis of Accounting
Status
The charity being a registered charity is not liable for taxation on any of its investment income, nor any other gains derived from carrying out its charitable activities.
Basis of accounting
The Financial Statements of the charity, which is a public benefit entity under FRS102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1st January 2019)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
2. Accounting Policies
Income
Voluntary income and donations are included in incoming resources when they are receivable, except when the donors specify that they must be used in future accounting periods or donors’ conditions have not been fulfilled, then the income is deferred. The income from fundraising ventures is shown gross, with the associated costs included in fundraising costs. Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.
Expenditure
All expenditure is included on an accruals basis and is recognised where there is a legal or constructive obligation to pay for expenses. All costs have been directly attributed to the functional categories of resources expended.
Charitable activities expenditure comprise those costs incurred in the delivery of its activities and services for its beneficiaries together with support costs associated with meeting the constitutional and statutory requirements of the charity.
Tangible fixed assets
Tangible fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Fund accounting
All funds held by the charity are considered unrestricted funds and are available to be used in accordance with the charitable objectives of each fund at the discretion of the Trustees.
Page 8
HOME ST ALBANS NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
| 3. 4. 5. |
Grants and donations Donations Gift aid Analysis of Expenditure Expenditure on charitable activities: Depreciation Salaries Premises costs Promotional costs Direct activity costs Administrative costs Equipment purchased Home Foundation giving Manse costs Legal costs Total expenditure Governance cost Independent examination fee |
Unrestricted Restricted £ £ 103,654 - 15,756 - |
2024 £ 103,654 15,756 119,410 2024 £ 319 49,832 33,734 897 12,991 7,486 166 858 18,000 1,162 125,445 2024 £ 780 |
2023 £ 95,664 15,798 |
|---|---|---|---|---|
| 119,410 - |
111,462 | |||
| 2023 £ 2,420 47,068 29,919 2,373 9,786 8,128 120 234 18,000 925 |
||||
| 118,973 | ||||
| 2023 £ 720 |
6. Transactions with trustees and related parties
None of the Trustees received any remuneration for their services as Trustees (2023: none).
Demi Stephen resigned as a Trustee on 18 May 2023 and received no remuneration for her role as Trustee. Demi Stephen was also employed as a minister within the Church until December 2022 and was remunerated in accordance with her employment contract.
The amount paid in each accounting period was as follows:
| Demi Stephen Salary Pension contributions Total |
2024 £ - - - |
2023 £ 1,567 78 |
|---|---|---|
| 1,645 |
During the year ended 30 September 2024 Home St Albans received total donations without conditions from the serving Trustees amounting to £4,024 (2023: £5,141).
Page 9
HOME ST ALBANS
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
7. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows: |
||
|---|---|---|
| Wages and salaries Social security costs Employer contributions to pension plans |
2024 £ 47,459 - 2,373 49,832 |
2023 £ 44,750 - 2,318 |
| 47,068 |
No employees received employee benefits of more than £60,000 for the year (2023: none).
The average number of employees during the year was 2 (2023:2). All employees are engaged in delivering the charitable aims of the Church.
| 8. | Comparatives for the Statement of Financial Activities Income Grants and donations Donations Gift aid Investment income Interest received Other income Total income Expenditure Charitable activities Governance cost Total expenditure Net outgoing resources and movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted Restricted fund fund £ £ 95,664 - 15,798 - 20 - 142 - 111,624 - 118,973 - 720 - 119,693 - (8,069) - 14,176 - 6,107 - |
2023 Total £ 95,664 15,798 20 142 |
|---|---|---|---|
| 111,624 | |||
| 118,973 720 |
|||
| 119,693 | |||
| (8,069) 14,176 |
|||
| 6,107 |
Page 10
HOME ST ALBANS NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
| 9. 10. 11. **12. ** |
Tangible Fixed Assets Equipment £ Cost At 1 October 2023 16,923 Additions - At 30 September 2024 16,923 Depreciation At 1 October 2023 16,603 Charge for the year 319 At 30 September 2024 16,922 Carrying amount At 30 September 2024 1 At 30 September 2023 320 Debtors 2024 £ Social security and other taxes - Other debtors 5,695 5,695 Creditors: Amounts Falling Due Within One Year 2024 £ Trade creditors 149 Accruals and deferred income 3,732 Social security and other taxes 2,836 Other creditors 1,086 7,803 Analysis of charitable funds Balances Transfer 1 October between 2023 Incoming Outgoing funds £ £ £ £ Unrestricted Funds: General 6,107 119,550 (126,225) - 6,107 119,550 (126,225) - Balances Transfer 1 October between 2022 Incoming Outgoing funds £ £ £ £ Unrestricted Funds: General 14,176 111,624 (119,693) - 14,176 111,624 (119,693) - |
Total £ 16,923 - |
|---|---|---|
| 16,923 | ||
| 16,603 319 |
||
| 16,922 | ||
| 1 | ||
| 320 | ||
| 2023 £ - 5,137 |
||
| 5,137 | ||
| 2023 £ - 1,560 590 1,001 |
||
Trade creditors Accruals and deferred income Social security and other taxes Other creditors Analysis of charitable funds Unrestricted Funds: General Unrestricted Funds: General |
||
| 3,151 | ||
| Balances 30 September 2024 £ (568) |
||
| (568) | ||
| Balances 30 September 2023 £ 6,107 |
||
| 6,107 |
Page 11
HOME ST ALBANS NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
13. Analysis of Assets and Liabilities to Funds
| Unrestricted Funds: General Unrestricted Funds: General |
Fixed Current Current assets Bank assets liabilities £ £ £ £ 1 1,539 5,695 (7,803) 1 1,539 5,695 (7,803) Fixed Current Current assets Bank assets liabilities £ £ £ £ 320 3,801 5,137 (3,151) 320 3,801 5,137 (3,151) |
Net assets 30 September 2024 £ (568) |
|---|---|---|
| (568) | ||
| Net assets 30 September 2023 £ 6,107 |
||
| 6,107 |
Page 12