## **ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2025**
## **THE EXCHANGE CHURCH, AYLESBURY**
**(A COMPANY LIMITED BY GUARANTEE)**
**REGISTERED CHARITY No. 1157119**
**REGISTERED COMPANY No: 08765846**
Castle View Accounting Ltd Ground Floor Offices 53 High Street Arundel West Sussex BN18 9AJ
## **THE EXCHANGE CHURCH, AYLESBURY**
**(A COMPANY LIMITED BY GUARANTEE)**
## **CONTENTS**
|Page 3|Legal and Administrative Information|
|---|---|
|Page 4 to 6|Report of the Directors'|
|Page 7|Statement of Financial Activities|
|Page 8|Balance Sheet|
|Pages 9 to 15|Notes to the Financial Statements|
|Page 16|Independent Examiner's Report|
2
## **THE EXCHANGE CHURCH, AYLESBURY**
## **(A COMPANY LIMITED BY GUARANTEE)**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
## **CHARITY NUMBER**
**CHARITY NUMBER** 1157119 **COMPANY REGISTRATION NUMBER** 08765846 **DATE OF INCORPORATION** 7th November 2013 **START OF FINANCIAL YEAR** 1st September 2024 **END OF FINANCIAL YEAR** 31st August 2025 **DIRECTORS AT 31ST AUGUST 2025** Sharon Clark Timothy Speakman Trevor John Bennett Pyniarlang Shabong Jacqueline Fiona Annan
## **GOVERNING DOCUMENT**
Memorandum and Articles of Association Incorporated 7th November 2013 as Amended by Special Resolution Dated 11th April 2014.
## **OBJECTS**
The Trust is established to: **(a)** to advance Christianity, in accordance with the provisions of the basis of Faith of the Evangelical Alliance, in the county of Buckinghamshire and elsewhere; **(b)** to relieve people who are in charitable need; **(c)** to advance education (including vocational training); **(d)** to promote such other charitable objects as the trustees shall from time to time determine.
**CORRESPONDENT ADDRESS** Flat 4 Chiltern House Oxford Road Aylesbury Bucks HP19 8FQ **PRIMARY BANKERS** CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Mailing Kent ME19 4JQ **SOLICITORS** Rutter & Rutter Solicitors St Audrey's Wincanton Somerset BA9 9DR **INDEPENDENT EXAMINERS** Castle View Accounting Ltd Ground Floor Offices 53 High Street Arundel West Sussex BN18 9AJ
3
**THE EXCHANGE CHURCH, AYLESBURY (A COMPANY LIMITED BY GUARANTEE)**
## **REPORT OF THE DIRECTORS' FOR THE YEAR ENDED 31ST AUGUST 2025**
The trustees, who are also directors for the purposes of company law, have pleasure in presenting their report and the financial statements of the charity for the year ended 31st August 2025.
## **Structure, Governance and Management**
The Charity was registered as a Company limited by guarantee on 7 November 2013 with a Memorandum and Articles of Association and as a Charity on 20 May 2014.
Pyniarlang Shabong, Jacqueline Fiona Annan, Trevor John Bennett, Sharon Clark and Tim Speakman have served as trustees throughout the year.
The trustees meet three times a year.
The Trust Deed authorises the Trustees to make and hold investments using the general funds of the charity. No such investments are presently held.
A child protection coordinator and a deputy child protection coordinator / child protection administrator ensure all necessary staff and volunteers are police checked. The charity is committed to delivering good practice in all regulated areas, such as Health & Safety, Child Protection, etc.
Day-to-day operation of the charity is carried out by employees and volunteer team leaders.
## **Objectives and Activities**
The trust is established to benefit the public by:
· Advancing Christianity in accordance with the provisions of the basis of faith of the Evangelical Alliance.
- Relieving people who are in charitable need, because of sickness or poor health, age, financial hardship or some other reason.
· Advancing education (including vocational training).
- Promoting such other charitable objects as the trustees shall from time to time determine.
- Recently we have been able to help lots of families from Ukraine.
## **Public Benefit Statement**
The charity trustees have exercised their powers with due regard to the guidance on public benefit published by the Charity Commission to promote the charity’s Objectives through our main activities, which are described below. All our charitable activities focus on the four purposes outlined above.
## **Achievements and Performance**
## **1. Overall Progress and Growth**
Church attendance has increased by 55% after the Covid 19 Pandemic. The church continued to work with the local community including providing a foodbank and free lunch once a month in the local community centre. Our own community events at Christmas saw further growth in numbers of families from the local community attending.
## _**1.1 Sunday Services**_
The church meets together each Sunday morning at Broughton Junior School in Aylesbury to worship, listen to a talk on a Bible-based subject, build friendships and to share the good news of Jesus. The numbers of regular attendees as of 31st August 2025 was approx. 55 adults and 10 children and 15 youth.
## _**1.2 Prayer Meetings**_
We hold monthly Wednesday night prayer meetings, at which the average attendance has been around 7 to 10 adults during the year. We also have a prayer for healing in the first two Friday nights of every month, over people who are sick and for the people in Aylesbury town in general and for those in authority for wisdom and strength.
## _**1.3 Outreach**_
In conjunction with Aylesbury Foodbank ran a Foodbank in Buckingham Park, which was started in September 2019. And we continue till today.
4
## **THE EXCHANGE CHURCH, AYLESBURY**
## **(A COMPANY LIMITED BY GUARANTEE)**
## **REPORT OF THE DIRECTORS' (Continued) FOR THE YEAR ENDED 31ST AUGUST 2025**
## **2. Working with the Local Community**
We were able to give our normal support to the community with the Foodbank and through delivering food and other items in the local community. We have been able to help few Ukrainian families, homeless people, and some people with serious addiction.
We also helped supporting the Youth for Christ ministry among the young people in schools in Aylesbury with regular donation of 50 pound/month
## **3. Working with Other Churches**
## _**3.1 Newfrontiers Catalyst Network of Churches**_
We continue to build friendships with several churches in this relational network. We are receiving support from a local church New Life Church Milton Keynes, Kings Arms Church in Bedford, and Jubilee church Solihull in terms of preaching support on a Sunday and regular meetings with the senior leader Simon Holley, Rob Davey &Tim Williams. Sharon Clark who is employed by New Life Church Milton Keynes is a trustee. We are also part of the regional Hub based in Bedford run by Kings Arms Church and Milton Keynes Hub.
This year we gave a grant of £2,500 to the Catalyst network to help fund their work in the UK and Overseas. We also gave £500 to Kings Arms Church in Bedford and £1,100 to New Life Church, Milton Keynes to contribute to the costs of running Hubs which supports churches and leaders that relate to them.
## _**3.2 Aylesbury Church Network (ACN)**_
We continue to build relationships with other churches in Aylesbury, attending events like the church in the park once a year and meetings regularly for prayers with other church leaders.
## _**3.3 Evangelical Alliance**_
The charity has been a member of the Evangelical Alliance since August 2016 (Membership No 239984).
## **4. Working Overseas**
## _**4.1 Greece**_
We helped support missionary work in Greece by the church's former leaders with a donation of £1,200. This is continuing at a rate of £100 per month.
We also helped support financially the work that Pyn Shabong (Pastor) is involved in India and Myanmar and other nations with the travelling cost. It varies from £1,500 to £2,000 Pound a year
## **5. Discipleship and Pastoral Care**
## _**5.1 Community Groups**_
Our weekly daytime and evening discipleship groups have been able to take place in person following the lifting of covid 19 restrictions.
## _**5.2 Youth**_
We have a group of 11–18-year-olds that met the first 2 Sundays of each month. We have been able to use a separate classroom adjacent to the main church meeting place to facilitate this.
## _**5.3 Children**_
We have one children’s group on a Sunday for 5–10-year-olds. We have been able to secure the use of an additional classroom to continue with this work throughout the year.
5
THE EXCHANGE CHURCH. AYLESBURY
(A COMPANY LIMrrED BY GUARAKTEE)
REPORT OF THE DIRECTORS. (Contlnued)
FOR THE YEAR ENDED 31ST AUGUST 2025
Flnancial Review
The chority is financially dependent on the voluntsry support of the general public makFng donations. Total voluntary
income receipts for the year, including Gift Atd receivable and miscellaneous income. amounted to £68,721 (2023-24
£57,525}. The church's total expenditure was £64.345 12023124 £63.1631 The ffinancial position of the church on 31
Aijgust 2025 is very heatthy having reserves of £86,398
Management and administration costs rdate to staff costs. office supplies, ph)tocopying. insurance, and professional fees.
Trustee indemnty insurance is in place.
The tnjstees approve an annual budget a1 glve regular attention to financial results. variance from budgets and non-
financial indicators.
As required by gov8rnm8nL the church set up an (Upation pensM)n scheme for employees through The Peoples
Pension in August 2017.
During the year, the church had tsvo part-time employees (one senior der and one graphicsl admin support worker).
The average number of stsff during the year was 2 and the totsl remurtgration for 12 months came to £36,503.
The cost of the end of year independent examination was £900.
SL*ement of Diro¢tors' Responsibilities:
The Charities Act and the Companies Act require the Board of TsleeS to prepare financial statements for each financial
year which give a Irue 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 nharity- In preparing those financral statements the Board is required to :.
Select surtable accounting poltcies and then ap.)ty them Consisten,
bl
Make judgements and estimates that are reasonable and prudent
Prepare the fin8nct81 statements on the go¢ng y)ncem basis unless it is inappropriate to presume that the
charity will continue in business..
d)
stste whether applicable aoUnting st8ndards and statements of recommended practice have been
folh)wed subject to any material departures disdosed and expL4ined in the financial statements.
The Directors are also reswnsible for maFntaining adequate accounting records whth disck)se with reasonable accuracy
at any time the financial position of the charity whlch are sufficient lo show and explain the chartws transactions and
enable them to ensLtre that the financial statements compfy wtth the Companies Act 2006 and comply with regulations
made under the Charf(ies Act. They are also SponSible for safeguarding the assets of the charity and hence for tsking
reasonab]e steps for the prevention and detection of fraud and other irregularities.
The Directors are also reswnsibk for the contents of the Directors. report and the responsibilty of the independent
examiner in relation to the Directors. 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 ststements.
These accounts have been prepared in att0rdare WFth the provisions applic2Ne to ¢ornpanies subject to the small
ompanies regime.
l approve the attached slatement of financial actNTties and balance sheet for the year ended 31st August 2025 and
confirm that I have made avaikble all infom)ation necessary its preparation.
Approved by the Directors on the................. ._..................29th October 2025..... ...........
Signed on their behaff by Director .................
Printed Name.. fimothy Speaknian
## **THE EXCHANGE CHURCH, AYLESBURY (A COMPANY LIMITED BY GUARANTEE)**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2025**
## **(Incorporating Income & Expenditure Account)**
|**Notes**
**INCOMING RESOURCES**
**Income Resources from Generated Funds**
Donations & Legacies
**3a**
Investment Income
**3b**
Activities for Generating Funds
**3c**
**TOTAL INCOMING RESOURCES**
**RESOURCES EXPENDED**
**Cost of Generating Funds**
Cost of Charitable Activities
**4a**
Cost of Generating Funds
**4b**
Governance Costs
**4c**
**TOTAL RESOURCES USED**
**NET INCOMING/(OUTGOING) RESOURCES**
Balance Brought Forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted Designated Restricted
**TOTAL**
**TOTAL**
Funds
Funds
Funds
**2024/25**
**2023/24**
£
£
£
£
£
66,205
-
-
66,205
54,527
2,516
-
-
2,516
2,037
-
-
-
-
961
**68,721**
**-**
**-**
**68,721**
**57,525**
62,416
-
-
62,416
60,866
-
-
-
-
336
1,929
-
-
1,929
1,961
**64,345**
**-**
**-**
**64,345**
**63,163**
**4,376**
**-**
**-**
**4,376**
**(5,638)**
82,022
-
-
82,022
87,660
**86,398**
**-**
**-**
**86,398**
**82,022**|
|---|---|
Movements on all reserves and all recognised gains and losses are shown above. All of the charity's operations are classed as continuing.
The notes on pages 9 to 15 form part of these financial statements.
7
THE EXCHANGE CHURCH, AYLESBURY
(A COMPANY LIMftED BY GUARAKfEEI
BALANCE SHEEr
AS AT 31ST AUGUST 2025
Unrestricted Restricted
FuThJs
Funds
TOTAL
TOTAL
31-Aug-25 31-Aug-24
Flxed Assets
Tangible Assets
Current Assèts
Debtors & Prepayments
Cash at Bank and in Hand
Totsl Current Assots
782
92.076
92,858
782
92,076
92,858
2,105
85,262
87.367
Croditors: amounts falling due within one year
6.460
6,460
5,345
NET CURRENT ASSETS
86.398
86.398
82,022
TOTAL ASSETS less current liabiltties
86.398
86,398
82,022
Credltors: amounts falling due in more than one year
10
NET ASSETS
86.398
86,398
82,022
Funds of the Charfty
General Funds
Designated Funds
Restricted Funds
86,398
86,398
82,022
Total Funds
86,398
86,398
82,022
Directors. Responslblllties:
The Directors are satisfied that for the year ended on 31st August 2025 the charttable company was entitled to exemption
from the requirement to otYRin an audrt under section 477 of the Companies Act 2006 and Ihat no momb8r or memb8rs
have required the company to obtain an audit of its accounts for the year in question in accordance wrth section 476 of
the Act. However, in accordance wrth section 145 of the Charityes Act 2011, the accounts have been examined by an
Independent Examiner whose report appears on page 15.
The Directors acknowledge their responsiknlty for complwng with the requirernent$ of the Companies Act 2006 with
respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to
companies subject to the small companies regime and in aCc(n with the Financial Reporting Stsndard applicable in
the UK and Republic of Ireland (FRS102).
The Directors acknowledge their responsibility for ensuring that the company keeps proper" accounting records which
compty with section 386 of the Act and for preparing financial slatements which give a true and fair view of the slate of
affairs of the company as at the end of the financial year and of its profft and loss for the financial year in accordance wlth
Ihe requirements of sections 394 and 395 and which OtheiSe compty with the requirements of the Companies Act 2006
relating to accounts, so far as appIlble to the company.
Approved bythe Directorsonthe.......................................29th October2025.......................................................
Signed on their behatfby Dlr..-:...-......-........................
Printed Name: Timothy Speakman
**THE EXCHANGE CHURCH, AYLESBURY (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2025**
## **Basis of Preparation & Assessment of Going Concern**
## **Basis of Preparation**
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to the accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2015) (Second Edition, effective 1st January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the Charities Act 2011 and the Companies Act 2006.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
## **Assessment of Going Concern**
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
## **Incoming Resources**
## _**Recognition of Incoming Resources**_
These are included in the Statement of Financial Activities (SOFA) when:
▪ the charity becomes entitled to the resources;
▪ the trustees are virtually certain they will receive the resources; and
▪ the monetary value can be measured with sufficient reliability
## _**Incoming Resources with Related Expenditure**_
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.
## _**Grants and Donations**_
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
## _**Tax Reclaims on Donations and Gifts**_
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
## _**Contractual Income and Performance Related Grants**_
This is only included in the SOFA once the related goods or services has been delivered.
## _**Gifts in Kind**_
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.
## _**Donated Services and Facilities**_
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
## _**Volunteer Help**_
The value of any voluntary help received is not included in the accounts but is described in the trustees' annual report.
## _**Investment Income**_
This is included in the accounts when receivable.
## _**Investment Gains and Losses**_
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
9
## **THE EXCHANGE CHURCH, AYLESBURY**
**(A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST AUGUST 2025**
## **1. ACCOUNTING POLICIES (Continued)**
## **Expenditure and Liabilities**
## _**Liability Recognition**_
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
## _**Governance Costs**_
Include costs of the preparation and examination of statutory accounts, the costs of the trustees' meetings and cost of any legal advice to trustees on governance or constitutional matters.
## _**Grants with Performance Conditions**_
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
## _**Grants Payable without Performance Conditions**_
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
## _**Support Costs**_
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of the resources, eg allocating property costs by floor areas, or per capital employed, staff costs by the time spent and other costs by their usage.
## _**Pensions**_
The Charity operates a define contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the financial period. Pension contributions are charged to the Statement of Financial Activities as they become payable.
## _**Taxation**_
The charity is exempt from tax on its charitable activities.
## _**Legal Status of the Charity**_
The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
## _**Fixed Tangible Assets**_
Tangible fixed assets for use by the charity, these are capitalised if they can be used for more than one year, and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt.
## _**Investments**_
Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.
There has been no change to the accounting policies (valuation rules and methods of accounting) since last year.
## _**Depreciation Expense**_
Depreciation is calculated at a rate to write off the cost of tangible fixed assets on a reducing balance basis over their estimated useful lives. The rates applied per annum are as follows:
Fixtures and Fittings 25%
## **2. TANGIBLE FIXED ASSETS**
The Charity held no fixed assets investments during this or the previous financial year.
There are no annual commitments under non-cancelling operating leases and no capital commitments. (2023/24:None)
10
## **THE EXCHANGE CHURCH, AYLESBURY**
## **(A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST AUGUST 2025**
## **3. INCOMING RESOURCES**
|**a) Donations & Legacies**
Gifts & Donations
Gift Aid Tax Recoverable
**b) Investment Income**
Interest
**c) Activities for Generating Funds**
Activities & Events|Unrestricted Designated Restricted
**TOTAL**
**TOTAL**
Funds
Funds
Funds
**2024/25**
**2023/24**
£
£
£
£
£
54,636
-
-
54,636
46,216
11,569
-
-
11,569
8,311
**66,205**
**-**
**-**
**66,205**
**54,527**
2,516
-
-
2,516
2,037
**2,516**
**-**
**-**
**2,516**
**2,037**
-
-
-
-
961
**-**
**-**
**-**
**-**
**961**|
|---|---|
11
## **THE EXCHANGE CHURCH, AYLESBURY (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST AUGUST 2025**
## **4. RESOURCES EXPENDED**
|**Note**
**a) Costs of Charitable Activities**
Advertising & Publicity
Books & Publications
Catalyst Festival
Catering Costs
Children's Work
Community Events
Conference Costs
Gifts & Donations
Insurance Costs
Office Costs
PA Music
Rent & Rates
Small Groups
Staff Costs
**13**
Training Costs
Travel & Subsistence
**b) Cost of Generating Funds**
Activities & Events
**c) Governance Costs**
Independent Examiners Fee
**9**
Legal & Professional Fees|Unrestricted Designated Restricted
**TOTAL**
**TOTAL**
Funds
Funds
Funds
**2024/25**
**2023/24**
£
£
£
£
£
369
-
-
369
654
-
-
-
-
63
150
-
-
150
1,008
2,137
-
-
2,137
2,538
231
-
-
231
502
929
-
-
929
457
-
-
-
-
1,069
7,229
-
-
7,229
14,971
534
-
-
534
511
558
-
-
558
320
1,621
-
-
1,621
1,218
6,325
-
-
6,325
5,503
53
-
-
53
90
36,503
-
-
36,503
30,624
76
-
-
76
294
5,701
-
-
5,701
1,044
**62,416**
**-**
**-**
**62,416**
**60,866**
-
-
-
-
336
**-**
**-**
**-**
**-**
**336**
900
-
-
900
840
1,029
-
-
1,029
1,121
**1,929**
**-**
**-**
**1,929**
**1,961**|
|---|---|
12
## **THE EXCHANGE CHURCH, AYLESBURY (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST AUGUST 2025**
## **5. RESTRICTED FUNDS**
The Charity held no restricted funds during this or the previous financial year.
## **6. DESIGNATED FUNDS**
The Charity held no designated fund during this or the previous financial year.
## **7. DEBTORS AND PREPAYMENTS**
|Gift Aid Tax Recoverable
**8. CASH AT BANK AND IN HAND**
Cash at Bank and in Hand
**9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Independent Examiners Fee
Sundry Creditors|Unrestricted Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**31-Aug-25 31-Aug-24**
£
£
£
£
782
-
782
2,105
**782**
**-**
**782**
**2,105**
Unrestricted Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**31-Aug-25 31-Aug-24**
£
£
£
£
92,076
-
92,076
85,262
**92,076**
**-**
**92,076**
**85,262**
Unrestricted Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**31-Aug-25 31-Aug-24**
£
£
£
£
900
-
900
840
5,560
-
5,560
4,505
**6,460**
**-**
**6,460**
**5,345**|
|---|---|
## **10. CREDITORS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR**
The Charity held no long term liabilities during this or the previous financial year.
## **11. NET ASSETS BETWEEN FUNDS**
|Fixed Asset Investments
Net Current Assets
Long Term Liabilities|Unrestricted Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**31-Aug-25 31-Aug-24**
£
£
£
£
-
-
-
-
86,398
-
86,398
82,022
-
-
-
-
**86,398**
**-**
**86,398**
**82,022**|
|---|---|
13
## **THE EXCHANGE CHURCH, AYLESBURY**
**(A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST AUGUST 2025**
## **12. RECONCILIATION OF MOVEMENT ON CAPITAL AND RESERVES**
The Company is Limited by Guarantee and is a Charity registered with the Charity Commission number 1157119 and is not, therefore, subject to Corporation Tax and does not have a Share capital.
|Profit / Deficit for the financial year
Other Recognised Gains
Balances Brought Forward
Closing Funds at 31st August 2025
**13. STAFF COSTS AND NUMBERS**
Gross Wages and Salaries
Employer's National Insurance Costs
Pension Contributions
Employees who were engaged in each of the following activities:
Activities in furtherance of organisation's objects|**TOTAL**
**2024/25**
**£**
4,376
-
**4,376**
82,022
**86,398**
**TOTAL**
**2024/25**
**£**
31,433
2,988
2,082
**36,503**
**TOTAL**
**2024/25**
2|**TOTAL**
**2023/24**
**£**
(5,638)
-
**(5,638)**
87,660
**82,022**
**TOTAL**
**2023/24**
**£**
26,624
2,232
1,768
**30,624**
**TOTAL**
**2023/24**
2|
|---|---|---|
The Charity operates a PAYE scheme to pay all members of employed staff. The Charity also employs self employed staff and no employees received emoluments in excess of £60,000. (2023/24:None)
14
## **THE EXCHANGE CHURCH, AYLESBURY**
## **(A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST AUGUST 2025**
## **14. PAYMENTS TO DIRECTORS AND RELATED PARTIES**
During the financial year Director Pyniarlang Shabong received £30,747 (2023/24:£25,260) in salary related payments and £2,082 (2023/24:£1,768) in Pension contributions in furtherance of the Charity's objects.
During the financial year The Exchange Church, Aylesbury made charitable donations of £1,100 (2023/24:£600) to New Life Church Milton Keynes (Registered Charity Number 1119167) in furtherance of the Charity's object. Director Mrs Sharon Clark is also a Trustee of New Life Church Milton Keynes and all conflicts of interest have been identified, documented and managed accordingly.
No other payments were made to directors or any persons connected with them during this financial period. No other material transaction took place between the charity and a director or any person connected with them.
## **15. RISK ASSESSMENT**
The Directors actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Directors have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
## **16. RESERVES POLICY**
The Directors have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The Directors aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The directors will endeavour not to set aside funds unnecessarily.
## **17. PUBLIC BENEFIT**
The Charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.
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## **INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS**
Report to the trustees/ members of The Exchange Church, Aylesbury) on the accounts for the year ended 31st August 2025 set out on pages 7 to 15.
## **Respective responsibilities of trustees and examiner**
The Charity's trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the financial statements. The trustees are satisfied that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the governing document or constitution of the Charity for the conducting of an audit. As a consequence, the trustees have elected that the financial statements be subject to independent examination.
Having satisfied myself that the charity is not subject to audit, and is eligible for independent examination, it is my responsibility to:-
a) examine the accounts under section 145 of the Act;
b) to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the Act; and;
c) to state whether particular matters have come to my attention.
## **Basis of independent examiner's statement**
I conducted my examination in accordance with the General Directions given by the Charity Commissioners for England & Wales in relation to the conducting of an independent examination, referred to above. An independent examination includes a review of the accounting records kept by the Charity and of the accounting systems employed by the Charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements , and seeking explanations from you as trustees concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of the Charities legislation and that the financial statements comply with the SORP, on a test basis, of evidence relevant to the amounts and disclosures in the financial statements.
The procedures undertaken do not provide all the evidence that would be required in an audit , and information supplied by the trustees in the course of the examination is not subjected to audit tests or enquiries, and consequently I do not express an audit opinion on the view given by the financial statements, and in particular, I express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below.
I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report I obtain written assurances from the trustees of all material matters.
## **Independent examiner's statement**
In the course of my examination, no matter has come to my attention:
1. which gives me reasonable cause to believe that in, any material respect, the trustees requirements:
· to keep accounting records in accordance with section 386 of the Companies Act 2006; and
· to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of recommended Practice: Accounting and Reporting by Charities.
have not been met; or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
K. Collaku MAAT Castle View Accounting Ltd Ground Floor Offices 53 High Street Arundel West Sussex BN18 9AJ
Date: 31st October 2025
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