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← Trinity Church Oxford

2024-03-31-accounts

Trinity Church Oxford

Charity number: 1157703

Report and Financial Statements

for the year ended 31st March 2024

Wenn Townsend

Chartered Accountants

Oxford

Trinity Church Oxford

Contents

Page
Legal and Administrative Information 1
Report of the Trustees 2 - 6
Independent Examiner’s Report to the Trustees 7
Statement of Financial Activities 8
Balance Sheet 9
Statement of Cash Flows 10
Notes forming part of the Financial Statements 11 - 16

Trinity Church Oxford

Legal and Administrative Information

Charity name: Trinity Church Oxford
Registered charity number: 1157703
Trustees: Peter Comont (Senior Pastor) (10th April 2014 – present)
Ken Giles (Elder) (3rd November 2016 – present)
Andy Robinson (1st February – present)
Treasurers: Matt Penn
Tom Davies
Church administrator: Grace Penn
34 Nelson Street
Oxford
OX2 6BD
Registered office: 28 Cowley Road
Littlemore
Oxford
OX4 4LD
Independent examiner: Mr Andrew Rodzynski FCA
Wenn Townsend – Chartered Accountants
30 St Giles
Oxford
OX1 3LE
Bankers: Barclays Bank
54 Cornmarket Street
Oxford
OX1 3HB

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Trinity Church Oxford

Report of the Trustees for the year ended 31st March 2024

The trustees present their annual report and financial statements of the charity for the year ended 31st March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 2011 and the Statement of Recommended Practice: Accounting and Reporting by Charities published in 2015.

Structure, governance and management

Governing document

Trinity Church Oxford was formed by a Constitution which was adopted on 10th April 2014 on which date the Rules of the church were also adopted. Trinity Church Oxford was registered as a charity under these documents on 3rd July 2014. These documents have not been amended this year.

Charitable Aims

Trinity Church Oxford is registered with the Charity Commission as a Charitable Incorporated Organisation (Charity Number: 1157703).

The purposes of the church as registered with the Charity Commission are:

  1. The advancement of the Christian faith in accordance with the Basis of Faith primarily but not exclusively within the city of Oxford and the surrounding neighbourhood; and

  2. Such other charitable purposes as shall, in the opinion of the charity trustees further the work of the church.

Organisational structure, governance and management

The church membership is the church’s decision-making body. Major decisions are made at meetings of the members of the charity, on the recommendation of the Trustees or church members. The Trustees are committed to calling members meetings around four times a year.

The spiritual leadership and overall management of the church is in the hands of the Elders. Those in the role of Elder or Pastor are automatically appointed Trustees of the church. Their details are held by the Charity Commission. Elders are not paid, although one of the elders during the year as Senior Pastor received payment for this specific role as per the Constitution. The Senior Pastor also receives a housing allowance. The Church has an Expenses Policy which is adhered to in the process of claiming expenses, and these are logged by the Senior Pastor and Pastor in Training onto a platform, Expensify. Expense reports can then be reviewed by the Treasurer and Church Administrator and paid once approved.

Ministry Team Leaders are appointed by the Trustees, and agreed by a simple majority of the church membership at a Members’ Meeting. Ministry Team Leaders have oversight for children’s and youth work, home groups, welcome, tech and worship activities. These individuals are answerable to the Trustees. The Senior Pastor meets termly with these appointed individuals.

A Church Administrator is employed part-time by the church to perform any duties deemed necessary by the Trustees of the church. They are responsible for the day-to-day management of the church finances and secretarial duties.

The church generally meets quarterly for Members Meetings which are business meetings at which the Trustees present financial updates and any proposals put forward by either the Trustees or Church Members.

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Trinity Church Oxford

Report of the Trustees (continued) for the year ended 31st March 2024

Organisational structure, governance and management (continued)

2022-2023 Transitions in Elders, Deacons, & Staff:

Affiliations

The church is affiliated with the Fellowship of Independent Evangelical Churches, is part of Acts 29, and has associations with Redeemer: City to City Europe.

Public benefit

The Trustees have kept in mind the Charity Commission’s guidance on public benefit and subsequent obligations. They believe that thus far, our obligation to provide public benefit is clearly demonstrated, as can be seen in the report below.

REPORT OF THE TRUSTEES: REVIEW OF THE YEAR

Trinity Church Oxford was planted with a vision to gather Christians in the city to worship God, equipping them for a lifetime of service, so that together we might reach and bless both the city of Oxford and the world with the life changing message of the Gospel.

A primary aim within all of Trinity’s activities is the furtherance of the Christian faith as outlined in the statement of faith adopted by the church in April 2014. To this end, the church is first committed to the pastoral care and discipleship of its members, attenders and others in need as they come into contact with the church. In 20232024, Trinity continued to hold weekly public worship services in hired venues, run regular homegroups for prayer and fellowship, run prayer meetings and church meals, host public lunch and dinner events, and encouraged fellowship, evangelism, and mission overall:

The staff team continued to meet weekly to pray about the needs of the congregation, conduct church business, and plan the different ministries of service and evangelism. Most thanks goes to our Father in Heaven, who has graciously provided for us through the past year, sustaining us through challenges and consistently amazing us with the grace he has shown to us in our Lord Jesus.

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Trinity Church Oxford

Report of the Trustees (continued) for the year ended 31st March 2024

Building

This year we have continued to meet at St Barnabas C of E Primary School for our morning services and St Michael at the Northgate for our term time evening services. It has been a blessing to have continuity in meeting location for this past year and we are grateful to both St Barnabas Primary School and St Michael at the Northgate for making this possible. We have also begun renting a space from St Michael at the Northgate to use throughout the week as office and meeting space. This has allowed us to have a more permanent and central base from which to operate.

However, we are conscious of how insecure our position in the centre of the city is whilst we remain in rented accommodation and therefore, we are actively pursuing the possibility of purchasing our own building.

Community

Oxford remains a very transient place, with significant numbers of people moving on from Oxford each year. Despite this, we are very thankful that the Lord has seen fit to strengthen our fellowship and bring new people into our community. We are thrilled to have welcomed a number of new people into our fellowship over the last year. We gained several new students at the beginning of the academic year in September and October.

Training

Partnership with other churches remains very important to Trinity. Our Pastor, Peter Comont, continues to be a mentor Crosslands Seminary and as a Church we are involved in the local Gospel Partnership, which provides training for a number of people in the region.

Volunteers

Trinity’s children’s work presently comprises a creche, with ad hoc teaching for other children who may attend from time to time. The creche meets during the morning service.

Most of the church activities rely very heavily on the hard work of volunteers, drawn from the membership and Sunday congregations. As a church, child protection and safeguarding in general is taken very seriously. Trinity is registered with CCPAS. Tom Wilding has served as the Safeguarding Co-ordinator for the past couple of years, but this role is currently being transitioned to Fiona Hamilton. Judy Comont is acting as Deputy Safeguarding Co-ordinator. The Church has a Safeguarding Policy and Good Practice Guide in place, both of which are reviewed regularly. Children’s Team Leaders and others working with the children and young people all complete application forms and Disclosure and Barring Service (DBS) checks are carried out. Different communication and reporting pathways are available for any safeguarding concerns and are posted publicly during weekly meetings.

Testimonials

Nadia Ford: ‘When choosing a church, I was looking for somewhere that takes the Bible as the foundation of all they do. At Trinity there are many opportunities to come together as a community reading God’s word and hearing top notch sermons, leading to a commitment to prayer, service, worship, obedience, and evangelism within the church. The gospel-centred preaching means that, not only are the Christians challenged, but unbelievers can hear what they need to be saved – making it easier to invite friends to church.

I have had a real sense of pastoral-ship from the leadership team, that individuals do not get lost in the crowd at Trinity, and that the leaders act as fellow members of Christ’s family whom you can chat to just as you would anyone else. I have also really appreciated not being a student bubble, as I believe that in order to grow in spiritual maturity, we must learn from and serve all members of the family of God. (Prov. 27:17).’

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Trinity Church Oxford

Report of the Trustees (continued) for the year ended 31st March 2024

Financial Review

The main source of income continues to be the generous support of regular individual givers, including members, alumni, and external givers. Church members, alumni, and external givers also support Trinity through additional one-off gifts, including support from the United Kingdom, the US, and other countries.

The majority expenditure of the church is the salaries for staff, necessary for the day-to-day management and running of the church and organisation of regular activities. As Trinity does not own property, venue hire also remains a significant cost over the course of the year. Trinity also maintains a policy to support external ministries through regularly giving 10% of internal funds raised.

Concluding Remarks

Almost all of the church’s activities are open to all, including young people and those with children, except insofar as there are some requirements relating to membership and Christian commitment. Services in particular are open to the public to come in at any time. Members Meetings are also open to all, but it is only church Members (18 years old and above) who are able to vote on church business.

In undertaking all of these activities, the charity also aims to equip all Christians who participate in the life of the church to proclaim and live out their commitment to Christ in their own daily life and spheres of influence. The charity’s advancement of Christianity for the public benefit therefore extends beyond these specific activities to encompass the transformed lives and Christian witness of all those in whom God has been at work through the church’s ministries.

In overseeing the activities of the charity during the period described in this report, the charity’s trustees have had regard to the public benefit guidance published by the Charity Commission as it relates to the charity’s objects as described above.

By God’s grace, we are continuing to see him accomplish his purposes through our fellowship, as he has graciously brought unbelievers to a saving knowledge of himself, given us the opportunity to work in the lives of Oxford University students, and sent members of our congregation out across the city of Oxford and to the ends of the earth seeking to serve our great God and King.

Looking ahead

We are looking forward to seeing what the next year holds for Trinity Church Oxford, with a particular focus on:

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Trinity Church Oxford

Report of the Trustees (continued) for the year ended 31st March 2024

Trustees’ responsibilities statement

Charity law requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that year.

In preparing those accounts, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time, the financial position of the charity and enable them to ensure that the accounts and financial accounts comply with charity law (in particular the Charities Act 2011) and the charity’s constitution.

They 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.

This report was approved by the Trustees on 6th June 2024 and signed on their behalf.

PGS _____ Peter Comont - Senior Pastor and Chair of Trustees

~~MRA~~ Matthew Penn (Jan 7, 2025 21:58 GMT)

Matthew Penn – Treasurer

________ Grace Penn – Church Administrator, Secretary

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Trinity Church Oxford

Independent Examiner's Report to the Trustees of Trinity Church Oxford

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31st March 2024 which are set out on pages 8 to 16.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the 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 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 respect of the charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do 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.

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.

Andrew Rodzynski Wenn Townsend Chartered Accountants 30 St Giles Oxford OX1 3LE

6th June 2024

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Trinity Church Oxford

Statement of Financial Activities for the year ended 31st March 2024

Notes Total Total
Unrestricted Restricted 2024 Unrestricted Restricted 2023
£ £ £ £ £ £
Income
Donations 190,867 30,000 220,867 143,549 - 143,549
Grants - 25,000 25,000 - 25,000 25,000
───── ───── ───── ───── ───── ─────
Total income 190,867 55,000 245,867 143,549 25,000 168,549
───── ───── ───── ───── ───── ─────
Expenditure
Charitable activities 3 174,449 31,600 206,049 161,560 25,000 186,560
───── ───── ───── ───── ───── ─────
Total expenditure 174,449 31,600 206,049 161,560 25,000 186,560
───── ───── ───── ───── ───── ─────
Net movement in funds 16,418 23,400 39,818 (18,011) - (18,011)
Fund balances brought forward at 1st April 2023 30,049 - 30,049 (48,060) - 48,060
───── ───── ───── ───── ───── ─────
Fund balances carried forward at 31st March 2024 46,467 23,400 69,867 30,049 - 30,049
═════ ═════ ═════ ═════ ═════ ═════

The notes on pages 11 to 16 form an integral part of these financial statements

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Trinity Church Oxford

Balance Sheet as at 31st March 2024

Notes 2024 2023
£ £ £ £
Fixed assets
Tangible assets 7 2,481 3,104
Current assets
Debtors 8 212 -
Cash at bank and in hand 120,007 108,861
───── ─────
120,219 108,861
Creditors: amounts falling due
within one year 9 (27,833) (31,916)
───── ─────
Net current assets 92,386 76,945
───── ─────
Total assets less current liabilities 94,867 80,049
───── ─────
Creditors: amounts falling due
after one year 10 (25,000) (50,000)
───── ─────
Net assets 69,867 30,049
═════ ═════
Unrestricted funds 46,467 30,049
Restricted funds 12 23,400 -
───── ─────
Total funds 69,867 30,049
═════ ═════

The financial statements were approved and authorised for issue by the Trustees on 6th June 2024 and signed on their behalf by:

ken Giles (Jan 14, 2025 10:32 GMT) …………………………… …………………………. PVG ~~~Ashy _~~ P Comont K Giles Trustee Trustee

ken Giles (Jan 14, 2025 10:32 GMT) …………………………. ~~~Ashy _~~ K Giles Trustee

The notes on pages 11 to 16 form an integral part of these financial statements

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Trinity Church Oxford

Statement of Cash Flows for the year ended 31st March 2024

Notes
Cash flows from operating activities
Cash generated/(used) by operations
11
Cash flows from investing activities
Purchase of tangible fixed assets
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2024
£
12,144
(998)
_
11,146
108,861
_
120,007
═════		 2023
£
(39,733)
(2,907))
_
(42,640)
151,501
_
108,861
═════

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Trinity Church Oxford

Notes to the Accounts

for the year ended 31st March 2024

1 Accounting policies

Company information

Trinity Church Oxford is a charitable incorporated organisation, Charity registration number 1157703, and is governed by a constitution which establishes the objects and powers of the charitable organisation. The charity was registered on 3rd July 2014.

(a) Basis of preparation

These accounts have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”), “Accounting and Reporting by Charities” the Statement of Recommended Practice for charities applying FRS 102, the Charities Act 2011 and UK Generally Accepted Accounting Practice as it applies from 1st January 2019. The charitable incorporated organisation is a Public Benefit Entity as defined by FRS 102.

The accounts are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

(b) Fund accounting

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and have not been designated for other purposes.

(c) Income

All income is included in the SOFA when the charity is legally entitled to the income, the amount can be quantified with reasonable accuracy, and it is probable that income will be received.

(d) Expenditure

All expenditure is accounted for on an accruals basis. All expenses, including support costs and governance coats are allocated or apportioned to the applicable expenditure headings in the statement of financial activities.

Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

(e) Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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Trinity Church Oxford

Notes to the Accounts (continued) for the year ended 31st March 2024

1 Accounting policies (continued)

(e)

Tangible fixed assets (continued)

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fitting and equipment

15% and 40% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

(f)

Impairment of fixed assets

At each reporting end date, the charitable incorporated organisation reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in income/(expenditure) for the year, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

(g) Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the charitable incorporated organisation becomes party to the contractual provisions of the instrument.

Financial assets are offset, with the net amounts presented in the accounts when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, are initially recognised at transaction price.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price.

(h)

Going concern

The financial statements have been prepared on a going concern basis as the trustees believe no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements.

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Trinity Church Oxford

Notes to the Accounts (continued) for the year ended 31st March 2024

2 Donations and legacies

2024
£
Donations (including gift aid)
220,867
══════

Included in donations is £30,000 (2023: £nil) of restricted donations.
3
Charitable expenditure
2024
£
Staff costs
120,266
Depreciation
1,621
Church events
14,224
Rent & rates
18,725
Sundry
73
Travel and subsistence
3,519
Office running costs
8,866
Away giving
7,732
Support costs (see note 4)
31,023
_
206,049
═════
Included in staff costs is £25,000 (2023: £25,000) of restricted expenditure.
4
Support costs
2024
£
Staff costs
15,191
Advertising
2,910
Telephone
381
Printing, postage and stationery
41
Insurance
282
Bank fees
267
Governance costs (see note 4a)
11,951
_
31,023
═════		 2023
£
143,549
══════
2023
£
116,563
2,030
9,440
10,759
674
4,689
9,645
12,105
20,655
_
186,560
═════
2023
£
13,660
-
737
944
271
283
4,760
_
20,655
═════

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Trinity Church Oxford

Notes to the Accounts (continued) for the year ended 31st March 2024

4(a) Governance costs

Independent examiner’s fees
Legal and professional		 2024
£
945
11,006
_
11,951
═════		 2023
£
900
3,860
_
4,760
═════

Included in legal and professional is £6,600 (2023: £nil) of restricted expenditure.

5 Related party transactions

The trustees may receive reasonable and proper remuneration for goods and services provided to the church, as stated in the charity’s constitution, in respect of their employment. They do not receive remuneration for acting as a trustee.

One (2023: one) of the trustees received remuneration during the year: P Comont £45,302 (2023: £45,302) for acting as Pastor for the church.

The trustees were reimbursed expenses totalling £431 for church activities, £1,649 for travel and meals, £381 for telephone, £239 for office costs, and £11 for sundry items.

6 Employees

Number of employees

The average monthly number of employees during the year was:

Direct charitable work
Charitable support
Employment costs
Wages and salaries
Social security costs
Pension costs
Other costs		 2024
Number
3
1
_
4
═════
£
112,552
5,720
13,811
3,374
_
135,457
═════		 2023
Number
3
1
_
4
═════
£
104,253
5,223
14,541
6,206
_
130,223
═════

There were no employees whose annual remuneration was £60,000 or more.

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Trinity Church Oxford

Notes to the Accounts (continued) for the year ended 31st March 2024

7 Tangible fixed assets

7 Tangible fixed assets
Fixtures, fittings and equipment
£
Cost
At 1st April 2023 13,261
Additions 998
_
At 31st March 2024 14,259
_
Depreciation
At 1st April 2023 10,157
Depreciation charged in the year 1,621
_
At 31st March 2024 11,778
_
Carrying amount
At 31st March 2023 3,104
═════
At 31st March 2024 2,481
═════
8 Debtors
2024 2023
£ £
Other debtors 212 -
Prepayments and accrued income - -
───── ─────
212 -
═════ ═════
9 Creditors falling due within one year
2024 2023
£ £
Trade creditors - 538
Accruals and deferred income 27,833 31,378
Other creditors - -
───── ─────
27,833 31,916
═════ ═════

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Trinity Church Oxford

Notes to the Accounts (continued) for the year ended 31st March 2024

10 Creditors falling due after more than one Creditors falling due after more than one year
2024 2023
£ £
Accruals and deferred income 25,000 50,000
───── ─────
25,000 50,000
═════ ═════
11 Cash generated from operations
2024 2023
£ £
Surplus/(deficit) for the year 39,818 (18,011)
Adjustments for:
Depreciation of tangible fixed assets 1,621 2,030
Movements in working capital:
(Increase)/decrease in debtors (212) -
Increase/(decrease) in creditors (29,083) (23,752)
───── ─────
Cash generated/(used) by from operations 12,144 (39,733)
═════ ═════
12 Restricted funds
Balance Balance
1 April 2023 Income Expenditure Transfer 31 March 2024
£ £ £ £ £
Building Fund - 30,000 (6,600)
-		 23,400
Student worker - 25,000 (25,000)
-		 -
─────── ─────── ─────── ─────── ───────
- 55,000 (31,600)
-		 23,400
═══════ ═══════ ═══════ ═══════ ═══════
12 Analysis of net assets between funds
Restricted
Unrestricted		 Total
funds funds funds
£ £ £
Tangible fixed assets - 2,481 2,481
Net current assets 23,400 68,986 92,386
Long term liabilities - (25,000) (25,000)
─────── ─────── ───────
Total net assets 23,400 46,467 69,867
═══════ ═══════ ═══════

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