REGISTERED CHARITY NUMBER: 1159493 Report of the Trustees and Unaudltcd Flnanclal Statemcnt5 for the YeAr Ended 311)ecember 2024 for Euston Church Garsidc and Co. Limit¢d Suitc 631, Lin¥n Hall 162-168 Rcgcnt Str¢et London WIB5TG
Eu8¢on Church Contents of the Fin8nclal Ststements for the Year End¢d 31 Ikc¢mber 2024 PAge Referenee and Admlnl$tratlv¢ Detills Report of the Trustees 2 to 4 Independent Exwmlner's Report ststement of Flnanclal Actlvltles lanee Sheet CA$h Flow Ststement No¢e8 to the Cash Flow Stat¢m¢nt Note8 to the Fthanelal Statement• 10 to 16 Detalled Statement of Flnanclal Actlvltlel 17 to 18
Euston Church Referen¢e and Admlnlstratlve Details for the Year Ended 31 December 2024 TRUSTEES Reverend K Murdoch A Geers B Lund M C Clokey LRRosa R Nyam ERHill Kxu P Mokuolu A Smart G H Zhen (resigned 31.3.2025) K Tan (resigned 31.3.2025) T Irvine J O'Gr4dy (appointed 17.7.2024) C Hogg (appointed 31.3.2025) PRINCIPAL ADDRESS 'I'hL Cloi.slLrs Gurdi)n Squai'L Lond()n WCIII OAG REGISTERED CHARITY NUMBER 1159493 INDEPENDENf EXAMINER Garside and Co. LimitLxI Suite 631, Linen Hall 162-168 Rcgcnt Stred London WIB5TG BANKERS RLlianLL 13ank '#iih I1011sL 23-24 L()vdl l_.llrt¢ Loi)don LC31I SEB Pag¢ I
Eustoo Church Report of the Trustees for the Year Ended 31 December 2024 The trustees present their report with the financial ststemenls of the charity for the year ended 31 De¢ember 2024. The ttuslees have adopted the provisions of Accounting and Reporting by Charities.. Ststement of Recommended Practice applicable lo charities prcparing their account5 in accordance with the Financial Reporting Standard applic&ble in the UK and Republic of Ireland {FRS 102) {etlective l January 2019). ORIECTIVES AND ACTIVITIES UbJectlves The objects of Euston Church are to advance religion in accordance with the tenets and practices of Ihc Church of England, including (without limitation).. holding services of worship promoting study of th¢ Biblc missionary und outreach work aniillyry or incidental cduc&lional aclivilies oihcr &$sociatLd aL'liviliLS fur thL benefii of th¢ community. Actlvltles During ihe finunLiul rcviLy PLriod, Euston C,hurch has conduLted IhL folluwing prinLipuI aLiviliLs.' lli)oks of the biblL pr¢aLhcd through 81 sunday $ervice.8 includcd MalthLw and I 'fhcssalunians. P,uslun Church held Cdrul sLrviL¢5 lor Chri.4lmas and speLiuI 5LfviLLY f(Ir .8.lLr. ScvLTdl onc-off cvcnL8 wcrc al%0 hLId. Lus(un Church ran thrcc prin6ip&l Sunday scrvices during thc pcrir)d al I l a.m., 3 p.m. and 5 p.m. A Lhildrcn'8 8crvicc also ran frum liinL lo timL at 111 a.m. • ()vcr 25 small groups MLI Ihruughout ihc year. The groups 5tudiLd R(Trmans for IhL &LadLmib ycdr lo Junc 2024. 1.rom Ihc sturt or the academiL yLur that L()mmcnccd in ()clober 2024. the grt)UPs sludiLd P.xudus. • Several church wcckLnds and day% iLWdy wLrc held. It8 Pdrtncr%hip with l.ond()n City Mission cnnlinucd and cxpandcd, IuLUS5ing in purtiLulur on homclLS5 ministry (wiih u mLmbur vf strafl-now Mp()n.8iblc for th&tl mini%lryl lind work on thc Bcmcrtun Eqtate. A nufftbLr ul'pcuple ÈittLndcd the l.ifL F.xplorLd LoursL lu invLtigtttc fuiih Ld the Llaimb uf Jesus. A signifiLl¢ numbcr nfpcoplL partiLipalLd in i)ne-ti)-()ne Ilible studiLq. l.unchiimc lalky WLfL run Èlt l..u%lon for loLal sludLnls and workurs. number of peoplL pLtrtiLip&l¢d in I,'u8ion (;hurch's mini8try traincc schcmc, studying God'5 word in dclail, pcrfomiing admini8lralivc laskb und ILdmingF fmm tha4e alrcady in ministy. l.,usti)n ChurLh Pdrticipalid in ¥ludLnl mi.¥yion week.q aL'ri)%s l.ondon. Vurious training coursL5 wcre held including .4mdll iraining groups on understanding IliblL PaSSaBLS ('fools for Mini5lry), prL'IiLhing gri)ups and dfler churLh sLminar slots. l..uslon ('hurih hus sUPPOrtcd a numbLr ol. mi5yion partncrs ovcrsc&% including Muxime and l)emelza Saumga9 in I,ranG¢, Alex and Sard Munl()w in Belgium, Robyn DrakL in Ncw /.L*land, blizubcth Burgcncr in Ihc Arab world, Rachcl Paul in South A.qia, Alkcsh and Katie Wuods in L'hina, Jonathan and Je¥s Forster in &.Igium and Caitlin Ng in Thailand. Safeguardlng The Truste¢s huve complied with thL duty undLY ScLlion 5 of IhL SafLguarding and Clcrgy Discipline Mcasurc 2016 in rclalion lo having duc rcgdrd to thc I louse of Bishop'5 guid8n¢¢ on safeguarding children and vulnerabl¢ adults. Public benefit Thc Tru.%lc¢s havc consid¢rLd Ihc Charity Commissioncrs, Guidance on Public Bcnefit and, in p8rti¢uldr, the specific guidance on CharitiL5 fvr thL Advanccmenl ol- RLligion and arL salisficd that th¢ 41¢tivitics of Luslon Lhurch fall wiihin such guidance. Page 2
Euston Church Report of the Trustees ror the Year Ended 31 Detember 2024 ACHILVb.MENT AND PERFORMANCE The Trustees consider that Ihe m&in aLhi¥vL1llLnts of Euston Church in the financial period havc been.. public proclamation of the gospel at sunday 5¢ryiLCS, midwcck scrviccs and guest evcnls, biblc 5tudi¢s and une-lo-one ministry. which has led tu incr¥iiSLd undcrytsnding of thc gospel of Jcsus Christ for members of Euston Chuwh, the wider lo¢al community and Lunt&tLls of mcmbers of Euslon Church. a continued focus on s&fcguarding iippropriatc structures in the chUh. rinwiLial and prayer support for missionarics., and cngagetncnt in Ihc local community thn)ugh Imndon Cily Mi55iun und lh¥ Crossteach progrÈimmc. FINANCIAL REVIEW Financial positlon In the financial pcriod lo 31 1)CLembLr 2024. Euslon Lhurch's total inwmc was £540.052 (2022.. £513,728). Thc income compriscd donations and legacics ot- £483,871 12023: £458.262), inveslmeni income of £2,521 {2O23'. £1,435). and oiher income 1-£53,660 (2023.. £54,031). F.uston Church'.$ total expenditurc in Ihc period Wds £517,031 (2023.. £512,662), leaving it with nel incom¢ 01. 23,021 (2023: £1,066). Toidl stalt'¢OSts wcre £294,1135 (2U23'. 298,505), bLinLy 57 /ts ol-t<)lal Lxpcnditurc (21123.. 511 /.). Re5crves polley As ai 31 rk'LLmbLr 2024, IhL charity had ¢#sh at l)ank ol. £181,811 (2023.. £100,433), quIvcnI 10 33/u of lotal expcndilure (21123: 2UQ/o) or approximalLly 4.3 months, of cxpcndilurL. ThL I'rublvLs' mcdium-ILrm uim iy tu mainliiiri TLsLfvLS suifiLiLnl lo c()vLr Ihrcc months of operdting Losts. FUTURL DEVELOVM N'I'S 'I'hLTL' ufL' nu malLri&I changes ts) Euston ChurLh's aclivilics c()nlcmplaicd in 21125. STRUCTURE, C.OVERNANCL AND MANAGEMENT Governln&v document And nature Of entlty F.uston ChurLh is a CharilablL InLurporatLd Urganisaiion esiablished in a¢¢ordani¢ with the Chariti¥s A¢t 2011. 'I'hi op¢rdliun vf Eu%(on LhurL'h is gov¥mLd by its Lunstituli(In. adopicd on 4 December 2014. Trustees Eu41()n Church's CDnslitulion appoint.$ thc Truqlees io manage the affairs of F.u¥lun Churih and tu ¢x¢riis¥ all Ihc powLrs uf F.uston ChurLh. NLW 'fru¥lces may b¢ appuinlLd in two W¢yt> (l) l()r a Icnn or rour years by a rc%olulinn passed al a pmperly LonvL'nL rn1]ng Of the I ruslLc5 (up l() cighi Trustees) (2) lor a Icrm (If lour ycars by thc mctnbcrs nl. the congrcgalion of Eust()n Cl]urch at an annu&tl ¥LllLral tncL'ting nf thL cnngr¢g¥liun uf Euslvn ChurLh ()rganiscd by thc Tru%lcc%, providcd that any pcrson so appointed 1.8 a membcr of th¢ Lon&yrLgyalion of Eullon Church (up 10 4 '1rustvcs). Notwithstanding thL express lertns ot. F.u4lon Church, constitution, all l-ruslLLS' conlinucd appoinlmLnl is LurrLntly ralificd al Ihc annu&l gLncral mLYling of Ihc LongrLgalion of Euston Church in each year, in aLLordunL'L with thc piactice of the Church ot. England. In cnnsidering the appoinlmLnt uf ncw Truslccs, the existing Trustees musl have regard to the Skills, knowledge and experience Lld for Ihc cffLYtivc administration of. Eu4tnn c.hurch. Every Trustee must suhscribe and adhere in belief #nd lif¢style lo th Christian faiLh, must be u inLYnbLr of Ihc congrcgation of the Euslon Church Mission Initiative and must be willing lo participate LlivLly in that Mi55ion Initiative. AnyonL b0Tning a Tru.%tee receives a copy of Euqt()n Chtsrch's conslilution and the annual report and ststement of accounts and is rcquir¢d lo sign tl stalcmcnt cnnfimiing that hc or bhc is cligiblc lo bc a Tru5tcc and to dcclarc any p055iblc conflicts of intcre5t. l-hLfL' arc no fvTmal procedur¢s for the induction of Tru.sle&q. Trustees are provided with apprnprialL training when reqUId and having regard to training recominended by the Church of England. Page 3
Euston Church Report ofthe Trustees for the Year Ended 31 December 2024 STRUCTURE, GOVERNANCE AND MANAGEMEiYr Trustees Meetlngg The Trustees mecl ordinarily five limes a year and on an ad hoc basis when required. TNsl¢e meetings are ch84ired by the Reverend Kevin Murdoch, the minisier of Euston Church. The Twstees take appropriate decisioas on all aspects of the operation of Euston Church. The Trustees also adopt policies to comply with legislation in the areas of health and safely. safeguarding, remuneraiion and conflicts of interest. Day to day financial mallers are dLlcgaled by the Trustees to Euston Church's treasurer, Kelvin Xu and its bookkeeper, Catrin Le& Kclvin Xu prepares an annual budgct and supporty thc indcpcndent ex¢iminalion of the accounts. The Trustees havu OVLTSighi of findncial matters, including approval of major itLms ot. cxpcnditure and th¢ dnnual budgLI. Day to day ministy maii¢rs ar¢ delegated lo IhL R6yLrcnd Kevin Murdoch. who reports on thosL mallLrs lu the Tru8tce8 regularly. Rlsk MAnAgement The '[ titstLth r¢view the majur risks lo whiLh Eu$ton Church is exp(Trsed and relies on approprialL inyurdnce cover, as well a$ aLlivLly monitoring compliance with Euslon ChurL'h's policicy, lo protccl against those risks. OTHER Rb,fr"LRENCE AND ADMIiYISTRATIVE DF.'fAII Bankers RcliuncL Bank Faith Huutse 23-24 1.uvul l.anc Londiyn F.C3R SEB Independent examiner GurL*h OwLn I lugh¢s BSL ACA In.%lilulc ofchartLfLYI ALLountanLs in Engldnd and Walcs G&trsidL and Co. Limited Suitc 631, Lincn Hall 162-168 RLgLnt Sircet Londi)n WIB5TG Approvcd by ordLr of thc hnard nf tsuslLcs on .... . and signcd on ils behalf by.. K Xu - TrusteL' Page 4
Independent Lxaminer's Report to the Tru5teu of Eustan Chtsrch Indcpendcnt exxminer'5 report to the tru5t¢es of Luston Churf h I report to the c1ty tru.%tees oll my exainination of the accounts of b.u$ton Church (Ihe Trusti for ihc yL¥r wd¢d 31 Deccmbcr 2024. Respon51bllltles basi5 of report As thc Lhèrily trustees of the Tst you are rtgponsibl¢ for thc prcparation of the accounts in accordanc¢ with the requironts of the Charitieb Act 2011 ('Ihe ALt'). I rcport in $pt of my examination i)f th¥ Trust's accounLs carTiLd out undLr Scction 145 of the ACL and in canying out my examination I have Followcd all applicable DiiectioDs given hy the Charity Comynission under Section 145(5)(b} ofihe Act. Independent examiner'5 StAlemen( Since your charity's gross income exG¢¥dcd £250.000 your Gyamincr musi be d member of a li8t¢d ix)dy. I can confirtn that l arn qualified to undertak¢ th¥ exiiminaiion beeausc l am a member of the Institute of Chartered Accuuntants in England and Wales, which is one ofthe listcd bodies. I have cumplcted my examination. I conlirni that tio material mallers have come to my titleTEtivn in connection with the examinalion giving mc cause to bclieve that in any Inatcrial rc¥pc£t'. ounting records werc nvt kcpt in rcspcct ofthe TTh5t as rcquircd by Scction 130 of ihe Act; or the a¢count5 do n()t accord with thosL record%,' or Ihe accounts d() not comply with the appliL4LblL r¢quir¢ments conccming thL form and content ol accounts sel ()ut iTTr thc Charili&% (AcLUUfts and Report5) Regulali()ns 2008 othLT than any requirement that the #¢Luunt5 giVL a true and fair vi¢w which is not a tnatter considered as part oran ElldeNd¢nt cxamination. I have no conccrns and hav¢ corne across no othcr m2ttcrs Tn connection with the cxatnination to which attenrion should be drdwll ill this rEPOrt in ordcr tt) cnable a propcr understandillg nf th¢ account$ lo bc rChed. Gareth Owen Hugh¢s ACA The Institute of Chdnered Accountants in E[]gInd and Wales Garsidc and Co. L.imii Suite 6.31, l.inLm I lall 162-168 Regent Strcct London WIB 5'fG DaLe'. Pd8¥ 5
Euston Church Statem¢nt of Fin4nci41 Ac¢ivi¢les for the Year Ended 31 December 2024 21124 Uni'estriLI funds TiitHI funds Notes INCOME AND ENDOWMENTS FROM Donations and legaci&s 483,871 458,262 Invastment income Oihcr inLom 2,521 53.660 1.4.35 54,1131 Total 540,052 513,728 EXPENDITURF. ON Chtsritable 8tlivilies LhurLh uLiiviIiLS 517.031 512.662 NET INCOME 23,021 1,066 RECONCILIATION OF FUNDS fvnds brought forward 149,203 148.137 TOTAL FUNDS CARRIED FORWARD 172,224 149.203 The notes fonn part of these financial statements Page 6
Euston Chureh Balanee Sheet 31 December 2024 2024 Unrestiicted nds 2023 Total nds Notes FIXED ASSETS Tangible assets io 4.707 6.291 CURREiYf ASSETS Debtors Cash at bank 24,866 181.811 68,063 100,433 2(.677 168,496 CREDITORS ATnvunts falling due wiihin one year 12 (39,160) (25,584) NET CURRENT ASSETS 167,517 142,912 'ro'rAI, ASSETS LESS CURRD IYT LIABILITIES 172,224 149,203 NLT ASSETS 172,224 149,2113 FUNDS 14 UnrLStrictcd funds 172.224 149,2U3 TOTAL FUNDS 172,224 149.203 ThL finunLiuI .¥talcmenls were apprvvcd by IhL Bnard c)f Trustees and authurisL.d fur ISSUL. un .. Signed on ils bLhalf by: and wcre K Xu - Trustee The notes fortn part of these financial statements Page 7
Euston Church Cash Flow Statement for the Year Ended 31 December 2024 2024 2023 Notes CAsh flows from operatlng actlvltles Cash generated from orerntions 79.582 (24,712) Net cash provided byl(used in) operdting activities 79,582 (24,712) Cxsh flows from investing Actlvitles Pur¢has¥ of tangiblL fixcd ass¢ls Intcrcst rc]Ved (725) 2.521 (1,038) 1.435 Nct cash provided by investing aclivilies 1.796 397 Change In cash and cash equlvalents In th¢ reportlng perlod Cash And cash equlvalents It the be8lnnin8 of the r¢portlng perlod 81,378 (24.315) 100.433 124.748 Cash and cagh cqulvalentj at the end of the reportlng perlod 100.433 The notes form part of these finan¢ial statements Page 8
Euston Church Notes to the Cash Flow Ststement for the Yt*r Ended 31 December 2024 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net income for the reportlng perlod (Is per the Ststement of Fingncial Actlvltles) Adjustments for: Depreciation Charges Interest reLcivLd Deereasel{increase) in debtors Increase in creditors 23.021 1.066 2.308 (2,521) 43,197 13577 2,575 (1,435) (36,290) 9,372 Net CAJh provlded by/(ud In) operntlon$ 79582 (24.712) ANALYSIS OF CHANGES IN NET FUNDS Ai 1.1.24 Cash flow At31,12.24 Net cash Cash at bank l(M).433 81,378 100,433 81,378 Total l(M).433 111.378 The notes forni part of these financial statements Pag¢ 9
Euston Church
Notes to the Financlal Statements
for the Year Ended 31 December 2024
ACCOUNTING POLICIES
BH$ls olpreparlng the finaneial statements
The financial slatemenl.q of thu Lharity, which is a public benefit entity under FRS 102. huve bn prupllr in acLordance
with IhL Charities SORP (FRS 102) 'Accvunling und Rcporting by Charities= Statement of Recommended PrdLtice
appli¢abl¢ lo charities preparing IhL'ir ULLounls in accordance with the Financial Rew)rting Standard appliLablv in thc UK
and RepubliL of Iruland (PRS 102) (effective l January 2019),. FinanLidl RLy)rting Standard 102 'Thc FinanLial Reporting
Standard applicable in the IJK and I£Lpublic of Ircland, and the Charities Act 2011. The financial .stalemenls huvc bccn
prepared under the hi5toricul ¥ust Lonvcntion.
The PCC meelty the dLfinition of a public benefit entity under FRS 102.
1.hc financial siatemenL8 are prcpared in pound slcrlinE (£), which is the functinna] cu)TcllLy ofihc Lh
Kuston Church Notes to the Financial St4tements - contlnued for the Year Ended 31 December 2024 ACCOUNTING POLICIES- continued Fund Accountin¥ UnrL5triLtcd funds represent the funds of the PCC that arL' not subjLCt to any restrictions regarding their use and are available for tippliLatiun un thc general putyoses of the PCC.. Ilnr&stricted funds Lktn bL US in tLLordancc with the churitablu ubjLCtives at the dis¢relion of the truqt. ReslriLILd funds can only be used for particular restricted purposL'Y within the objccts of ihe charity. Restrictions arise whcn spccified by the donor or when funds t. ruiSLxI for PdrtiLular restricted pury)oses. P¢nstoD cootrlbutlons Contributions PÈiyablL to thc charity's pension scheme are chargLd to IhL StalLmLnt of Financial AGtivitics in the period lo which they relate. Debtors Trade dnd othLY dcbtnrs are recognised ai the sdilemeni amuunl after any trddc discount offered. Prepayments are valued at the amount prL'paid nct of any tradL disLounts duL. Amounts ow¢d lo the PCC al Ihc ycar cnd in rcspcct of fee& gift did rLwvLtxblc ()r nther incvmi 4rL ¥hown aq debLors. l¢t>S provision for amounts IhaL may prov¢ un¢ollc¢liblL. Cash at Bank and in hAnd Cy¥h 411 bank and in hund inLludcs ca%h and 8hort terni highly liquid invc$ttncnts with a Short maturity of three months or ILt>S tr<>m the da* vt. uiquisilion or opcning ul'ihL dLy(>sit or similar acci)unt. Llabllltles l.i(IbililiLs arc recvgnisLd when thcrc 1% an obligation al IhL' Balancc 8hcct datc as a result of a past Lvenl, il is probable th41 a tran51LT Ut LKI)nomic b¢n¢fil will bL rLwuircd in seiilemenl, and Ihc amount i)f Ihc scttlement ian b¢ LslimalLd rcliubly. Liabilitic4 arL' rLKogn1SL al Ihc amuunl that IhL' Lharilablc company Y4nliLipules il will Pdy to sciilc Ihc dcbi or the amount it hiL4 rLceivLd advanccd payments fur IhL g()udb or SLfviCCS it must providL. InAnelAI Instruments The charity ()nly financial und financi&l liabilities Ihul qualify as ba%iL financial in$trumcnt8. Basi¢ financiul intilrumLnL$ are initially rLL()&pni%cd at trdnquction valuL' and sub%cqucnily Ineasured al their LtILmCnt VdluL. DONATIONS AND LECIACIES 2024 21)23 Pliinned giving and CL)Ilcctions Gift aid 413,417 70,454 384,495 73.767 4113,1171 458.2(?2 INVES1'MLNT IIYCOME 2024 2023 Deposit aOunt interest 2,521 1,435 Pagell continued...
Euston Church Notes to the Financlal StAtements- continued ror the Year Ended 31 Dteember 2024 OTHER INCOME 2024 2023 other income- weekend 8W&y Other inLome- cuntributions to cos¢ of food Other illLomc- cv¢nts 44.332 5,192 4.136 47,820 5,196 1,015 53,660 54,031 CHARITABLE ACTlVI'fiD s COSTS Direci C051s1SLL note 6) Support Los15 (5LC note 7) Totals Church activiti&¥ 490,1177 26.954 517,031 DIRECT COSTS O* CHARITAB1.. ACTIVITIES 2024 2023 TrusleLy' rL¥nunct3lion Siaft'¢vsls Oiher staff Costs wL.kCnd away ¢osls Missionary und LharitublL giving RLnt and rales Insuruncc Events and Latcring Bix)ks and publi¢alii)n$ Advertising dnd promolion Compuler expLmSLS and wcbsit¢ ChurLh rnnning cast¥ Musi¢ licence fees Travelling Lust8 CIlT cxpcn$cs Music and thnIcal expens 1-uiti()n fees Sundries Subscriplions DLprcL'iation charges 46,740 247,295 18,901 57,953 111,396 46,307 252,198 811 50,519 21,536 16.248 5,339 18,185 2,374 3,11111 1,702 20,446 1.908 4.356 14.467 1,309 2,963 1,841 14,1113 1,264 427 31,1158 684 15,239 375 1,435 2,308 34,424 1,257 l5,945 2,123 1,505 2,575 490,077 499,583 Page 12 continued..
Euston Church Notes to the Financial St4tement5 - contlnued for theyear Ended 31 December 2024 SUPPORT COSTS Gov¢rnan¢c ¢0Sts Finance Totals Church a¢liviti 4.953 22.001 26.954 Support cnsls, includLd in thL abovc. are as follows: 2024 Church activities 2023 Total activili&s Bank CharLs IA'g¢il and other profe.gsional fees Indcpcndenl Lxamindtion fccs 4,953 17,681 4,3211 3,9(Y) 4.670 4,5(X) 26,954 13,079 TRUSTEES, REMUNERATION AND BTr.NEFITS During the ycar cndcd 31 DecembLY 2024 and the year ¢nd¢d 31 DL'ccmbcr 2023, r>ne of the INytLLs has been paid rcmunermlion or h&8 received vih¢Y bcnLfiI.s under an approv(xl Lonlraci of cmplnymenl. l olal rcmunLruliort and other ben¢fils, including cmployer pension Lontributions, wa$ as follow.. 31.12.24 31.12.23 RLV K Murduch 4(?.740 Trusteeg, expeniei t)uring th¢ y¢, the church madc payments to the Lathnlic Aw¥luli¢ Church .1 ru81 of £6,000 (2023.. £6.000) for the I8e ol'y flat uscd by the ViLur, RLvcrcnd Kevin MurdoLh. uring thL ycar, thc Lhurch paid Tru.IteC$' ¢XPLlls¢'s in r*peCt of catcring supplius, crèLhc r¢s()urces, sundry minislry wsly, evenl running c4)Sts, IravLI Lvsl¥, training and confcrunLL Iiu ¢ind Lumpulcr cxp¢nscs amuunling lo £1,475 (2023: £2,180). STAFF COSTS 2024 2023 Wage5 and salaries Social 5UtY Lo818 OihLY pcnsion costs 249,828 18,188 26,019 248,349 IX,473 31,683 294,035 298.505 The average monthly numbcr of cmployees durin8 the year was &8 follows: 2024 2023 10 Ministry No cmployees rCly¢d emolumen15 in cxccs5 of £60,000. Page 13 ¢onlinued...
Euston Church Notes to the Financial Statements- eontlnued for the Year Ended 31 December 2024 io. TANGIBLE FIXED ASSETS Fixtures and fittings Plant and machinery Computer equipment Totals COST At l January 2024 Additions 41.980 11.487 725 2,467 55.934 725 Ai 31 December 2024 41,980 12,212 2,467 56.659 DEPRTr.CIATION At l January 2024 Charge fur yr 37.120 1,809 LO,158 401 2.365 99 49,643 2.309 At 31 DeLembLr 2024 38.929 10,559 2,464 51,952 NET BOOK VALUE At 31 DeL'¢miK'r 2024 3.051 1.653 4.707 At 31 December 2023 4,1160 1.329 102 6,21)1 li. DEKfoRS: AMOUN'fs >"Al.I.ING DUE WITHIN ONL YVAR 21124 2Q23 Deposits hLld Gift aid receivabl OihL'r dcbiorq Prcpaymenl% and ttLLrU inLomc 2,61XI 18.191 1,501 2.574 7,235 39,066 3,875 17,11117 24.866 68,1)63 12. CR& DITORS: AMOUNTS FALLIIYG DUE wi'fHIN ONE YEAR 2024 2023 Trade creditors OihLY Lredil¢)rs Accnjed ¢xpcns& 2,7114 7.890 28,486 9,024 3,558 13.002 39,160 25.584 Page 14 continu...
Euston Church Notes to the Financial Statements- contlnued for the Year Ended 31 December 2024 13. LEASING AGREEMENTS Minimum leai>U paymcnls undcr non-CeelIab]e operating ltrdses fall due as follows.. 2024 2023 Within one year Betwecn onL and five years 34.167 49.5(K) 9.167 83,667 9,167 14. MOVEMEIYT IN FUNDS Net movement in fundq At 31.12.24 Ai 1.1.24 Unrestrlcted funds Gcncrdl fund 149.203 23,021 172,224 TOTAL FUNDS 149,203 23,1121 172,224 Net movemLnl in fund8, included in the &tbuvL ufL fullows.. InLoming rL'sourL'Ls R¢svurues LxpLndLxI in funds Unrestrlcted funds fund 540,052 (517,1131) 23.021 TOTAL FUNDS 540,052 (517.03l) 23,021 Comparatlve$ for movement In funds Net movLmLnt in fund5 At 31.12.23 At 1.1.23 Unrestricted funds General fund 148,137 1,066 149,203 TOTAL FUNDS 148,137 1.066 149,203 Page15 continued...
Euston Church Notes to the Finan¢lal Statements- contlnkned for the Year Ended 31 Detember 2024 14. MOVEMENT IN FUNDS - continued Comparntive nel movement in funds, included in the above are as follows= Incoming resources Resources expended Movement in funds Unrestrleted funds General fund 513,728 (512.662) l.(K*6 TOTAL FUNDS 513,728 (512,662) A cutTht year l2 months and priur yLar12 months combined position is as follows., Ncl movement in Ai 31.12.24 At 1.1.23 Unrestricted fund8 Gcneral fund 148.137 24,087 172224 T()TAL FUiYDS 148,137 24.087 172.224 A tiurrLnl ycar 12 months and priur yLdr 12 months combincd nct movement in funds, includd in the abovv as follow¥', InLnming rciourL'Ly Rcsourccq cxpLndLd Movcmcnl in funds Unre8trieted fundj Gencral nd t.053,780 (1.029.693) 24.087 TOTAL FUNDS I,053,780 (1,029.693) 24,087 15. RELATED PARTY DISCLOSURES Apart from transactions rclaling to trnsiees, r¢mun¢ralion and benefits sel out in Note 8, there were no relat party transactions, Thc aggregate donalion5 made lo the church by trustees during Ihe year ended 31 December 2024 amounted lo £101,247 (2023.. £81,105). Page 16
Euston Church Detalled Statement of FinanclAI Actlvities for the Year Ended 31 December 2024 2024 2023 INCOME AND ENDOWMENTS Donatlons and legaclej Planned giving and collections Gift aid 413,417 70.454 384,495 73.767 483,871 458.262 Investment Income Deposit account intLTLsI 2,521 1,435 Other income ()Ihcr income- weekund away Oiher incomc- contributions lo cost of food Oihcr income- events 44,332 5,192 4,136 47,820 5,196 1,015 53,660 54.031 Tot41 incomlng resources 540,052 513.728 XPTr.NDI"fuRE Charltablc Actlvltles '1'ru41L, rL'munLYalion and benefits Staff wagcs Staff sociul sLKurity Staff pcnsion contribution¥ ()ther staff costs WLYkcnd away costs Misqionary and churilublL giving RLnt and ralLS InsurnnLe EvL'nls and LdtLring Books and publiLlltii)n Advertising and promotion Computer cxpenses and wcbsile Church running Losts. Music liccnLC fees TrdVLllin¥ Ll)%Ls Cler8y expLllbLS Mu51¢ lind t¢ohnic&l expenses Tuilivn fees Sundrie5 Sul)SL"riPtions Dcprcciation - Plant and machinery Dcpreciation - Fixturcs and fitting Depreciation - Computer equipment 46,740 203,0118 18,11111 26.Q19 18.9111 57,953 18.396 il,Y63 4,356 14,467 1,3n9 46.307 202.12 111.473 31,683 811 50,519 21,536 16,248 5,339 18,185 2,374 3.881 1,7U2 20,446 1,908 300 34,424 1257 15,945 2.123 1505 2.075 401 99 1,841 14,103 1,264 427 31,058 684 375 1,435 1,663 546 490,077 499,583 This page does not fonn part of the statutory financial statement5 Page 17
Eu8ton Chureh Detalled Statement of Fin4n¢i41 Activltles for the Year Ended 31 December 2024 2024 2023 Support costs Finance Bank chatE&% 4,953 3,9(P) Governance eosts Legal and othLY professional fees Independent examination fees 17.681 4,320 4.670 4.500 22,001 9,170 Total resour¢es expended 517,031 512.662 Net Ineome 23.021 1,066 This page does not form part of the statutory fin8n¢ial stalanents Page 18