charlty regSstratlon number.. 1160706 Open Doors Network Annual Report and Flnanclal Statements for the Year Ended 31 August 2024 Fleld Sulllvan Llmlted 9 Hare & Blllet Roa(1 Blackheath London SE3 ORB
Open Doors Network Contents (continued) Reference and Admlnlstratlve Deta115 2to6 Trustees, Report Independent Examlner's Report 7toB Statement of Flnanclal Activitles Balance Sheet Notes to the Flnanclal Statements iito21
Open Door5 Network Reference and Admlnistratlve Detalls Trustees Richard Berklev Antony Darnell Kathryn Green David Klng Stephen Mcvelgh Vlctorla Ross Phlllp Watson MerJa-LI15a Wlckham Joseph Robinson 1160706 charlty Reglstratlon Nurnber Prlnclpal office The Old Ambulance Statlon Speldhurst Road Tunbrid4e Wells Kent T4 OIA IDdependent Examlner Fleld Sulllvan Llmlted 9 Hare & Billet Road Flackheoth London SE3 QRB Page I
Open Doors Network Trustees, Report The tfusteès present their report and atcounts for the year erided 31 August 2924. The charlty operates Christian Church under the name of New Life Chureh. The accounts have been prepared In accordance wlth the accountlng pollcles set out In note I to the accounts nd comply wlth the chaTlty's constitutlon. the Charltles Art 2011 and "4¢countln£ and Reportlng by Ch3rlties', Statement of Recommended Practlce appllcable to charltle5 preparlng thelr accounts In accordance with the Flnanclal Reporting Stand8rd appllcable In the UK and Republlc of Ireland IFRS 1021" leffectlve from l January 20191 Oblertlves and A¢lvlties The oblectlyes of the CIO are for the publlc benellt. to advance tbe ChTlstlars faith In accordance with the Ethos Statement of New Llfe Church In Tunbrldge Wells and such other parts of the UK and the world as the charity trustees may from time to tlme decide. The ethos statement Is to be found in the ¢onstilUtlon of the CIO. Wew Llfe chrCh exlsts to commlt Itself to serve the Gospel of jesus Chrlst through Tnembers, Indivldual Ilfeslyle. through djstlpleship groups and through actlvltles. much of them at the Church Centre. The artlvitle5 Include: meetln8 In Life groups to share, pray and encourage one another,. worshlpplng together and belng tau8ht from the Bible,. sharing about Jesus with our colleague5, neighbours and frjends; contributing flnancially to those in chrlstian mlnistry,. taking part in various Church-based enterprlses to draw unchurched peoplE to hear the Gospel,. and In varlous ways seIng those In need. The Church operates prlmarily, but not exclusiyely, wlthln the TunbTid#e We115 area. During the report perS0d, the church employed two full-time pastors, David King and Steve Mcvelgh. The church also employed Kate Green as Treasurer In a part time role, and three other employee3 who covtr part time admiDlstrallon, cleanlng and buildlnES facilities manager. The trustees have determlned to keep the actlvSties undertaken under revlew In con51derlng the Charlty Commisslon's 8ulrJance on publlc benefit, and, In partlcular, the speclfic guldance on charlties for the advancement of reli6ion. The tharity undertakes a number of activlties in ord¢r to achle¥e these ob5ecilves and Is COTnmilted to ensurlng that these actlvities are open to 411 ID the communlties local to the church fellowshlp. A large amount of the work of the Church Is tarried out by Indivldual members In thelr work and home sltuations, living out thelr Christian falth by word and deed. Much is done privately wlthout re¢ognltlon, and the hours and value ol that time cannot be quantifled. A.chlevements and Performance Durlng this last financial year, we saw our Sunday morning meetlngs contlnue to be well attended In person and our Ilve stream contlnues wbich Is now an ongoln8 feature of a Sunday mornlng where we saw regulai vlewers able to Joln us, If not In person. We have contlnued to see an Increase In attendance, of vlsltors beine welcomed on a re6u13r basls, and have been greatly encouraged with new famllles and indlvlduals lolnlng our fellowshlp* partltularly wlth many dlfferent natlonalities. We were able to celebrate an 'lnternatlon45 Sunda wlth many cultures and languages arnongst U5. The Gatehouse as an expression pf New Life Church at the old Calvary Church bulldlng In central Tunbrldge Wells, wa5 sublect to flooding In February 2021 and much of the buildlng was damaged. We were dellghted to be able to complete the renoV3tlons In the lalter half of the year and wlll ar¢ in dlscussion5 for what we wlll be uslnE It for In the followlng year. Lunch & chat takes place monthly where we see members of the chur¢h and community meet for lunch and Coffee and chat happens weekly to encourage consislency and communltv. Nvmber5 In both these setllngs have seen Increase through ihe last year and provide a highllght of connection for many In their week. Pase 2
Open Doors Network Trustees, Report (continued) Legacy Youth at New Llfe enjoyed bl.weekly gatherlngs and soclal events and has contlnued to see growth over thi5 year. We have been able to welcome some new team leaders In the last year allowing us to seNe the Intreaslng youth work well. Legacy Youth attended Newdaytr a large-scale youth event to build on and further thelr falth, wlth thousands of your¥8 poople gatherlng to worshlp and hear teacblng and enjoyed campln8 together In Norwlch Showgiound In August. Thls proved to be a very slgnlflcant tlme for many of our young people. Sozo la rnln15try for restorlng relatlonshlp5 wlth Godl whlch mostly aim to serve people from outslde the Church contlnues to be popular ond effective bearing good fTult. It served malnly those out51de of the church from other ngregationS around the UK where thls mlnistry 15 known and has become popular and sought after. Wlthln the chlldren's work, we have seen a signlflcant Increase of chlldren In the church on a Sunday mornlng who belong to a group called ExplorÈrs. Alongslde Explorer5 we continue to run 3 creche on a Sunday morning caterlng for the under 4,5 In the church, During the year as part of the chlldren's work, we have been able to put on a Llght Party whlch took place a5 an alternative Halloween gakherlngi whlch saw Fnany from the community bring their chlldren to, hearing the good news of jesus belng the Ilght of the world, Thls took place in collaboratlon, and was h05led by, Christ Church, Southborough. We did not hold the Easter holiday club this year but are hoplng to carry th15 ijn In the nextflnanclal year. Llfe Group5 meet 3 weeks out of 4 for fellowshipi blL71e study, and mutual encoufagement, We have been able to place new members in these life Groups and have seen Erowth here. We have also Started a LSfe Group purely for new members 3Dd thosè who have come from our Alpha course whlch Is a doorway to other groups. We hold 'ln perSOD' prayer nlghts on the 2nd week ol the month whl¢h encourage the church to meet as a famlly for Important (oplcs lo pray Into together. E4T's {Trlpletsl have been ongolng and well recelved to encourage further growth In the area of disclpleshlp. These more personal groups meet a mlnlmum of onre a onth to help shaipeD and encourage oDe another a5 dlsciples of Chrlst.11 contlnues to be very encouraging as more triplets are formed. Durlng the last flnan¢Sal yeqr, we ran 3 $ucce55ful alpha courses for all those wlshltig to explore the Chrlstlan falth, We had between 2-5 Euests or) each course, Thè Alpha prayer team contlnued to support each course wlth approxlmately 20 members praylng on a weekly basls. We are aimlng to run Alpha conslstently 3 tlmes per year and are currently runnlng a new course In the new flnanclal vear We have been able to continue our early mornlng prayer meeilng on zoom. We have an average of 10-12 loinlng together on a Tuesday, Wednesday and ThuT5day morTrlng for 30 minutes of prayer at the Start ol the day. Thls alongglde the prayer nlght and our regular (three time5 a yearl week of prayer & fa5tlng have be¢n a slgnifl¢ant source of encouragement thls year. All of these will contlnue through the next fln2nclal year. Durlng thls financlal year Davld Klng has been able to travel on mlsslon work throygh organlsations such as The Llghthouse Community based In Eastern Europe a¥nongst others. We bave been able to malntaln strong links wlth a number of these thurche5 and we are thrllled to see Davld's involvement Increase slgnlll¢antly, brlnglng encouragement and teachlng to Indlvidua15, church plants and established church settlpss. We were also able to sersd teams on prayer and mlsslon trlps to churches In Poland and Albanla, where our alm was to bless and en¢oura8e them as a team from New Llfe Church. PaGe 3
Open Doors Network Trustees, Report (contlnued> As part of the Relational Misslon Ifamlly of churches we are part of> leadership training programme we have been a 'reglonal hub, for the trainlng. This me4nt that on 4 Saturday5 during the financial year we hosted the regional tralning In our Southborough building. Over the February half term weekend, we welcomed all 100 leadershlp training studeDt5 to our bullding for 3 days of tralnlng and had a wonderful Sunday mornlng as thev lolned oyr regular mornlng sesvice. Thls wlll be rèpeated once Ègaln In the next financlal year. We continued to hire out parts ol the Church Centre to various outside group5 whlch not only ralsed finance for the church but has led to greater corymunlty awareness and evangelistlc opportunltv. There conllnues to be town-wide Involvement wlthln New Life Church In minlstrles such 85 Street Pastors Debt Advlce, alongslde our relationshlp belng built wlth Christ Church, Southborough through our Children'5 work In the alm to unlte In the churches and Sufrounding communlty Financlal Revlew The trustees report a deflclt for the year of £27,82912023- deflclt of f3,3671 on unrestrlcted funds Including deslgnat¢d funds but before transfers. All of the church assets were employed In puisulng the charitable obletts of the church. More detalled Informatlon Is set out on the followlng pages It Is the policy of the charity th4t unrèstrlcted fund5 whlch have not been included as fixed assets should be malntalned at a level equlvalent to between three and slx months, expenditure excludlng depreclallon, The trustees consider that reserves at thls level wlll ensure that, In the event of a slgnificani (trop In fundln& they wlll be able to continue the charity's current actlvltles whSle conslderatlon is gSven to ways In whlch additlonal funds may be ralsed. Three Tnonths, general fund expendilure, excluding depreclation, amounted to approxirnately £71,000 and unrestricted reserves excluding deslgnated funds held as current assets at the end of the year were £146,195. The trustees have assessed the ma5or Tlsks to which the charlty Is exposed, and are satlsfied that system5 3re In place to mltlgate exposure to the major rlsks. Structure, governance and management The charity was establlshed as a Charltable Incorporated Organlsatlon I'CIO") on 2 March 2015 The trustees who served durln6 the year and up to the date of slgnature of the flnanclal statements were: Richard Berklev Kathryn Green David Klns Stephen Mcvelgh VlctOTla Ross Phlllp Watson Merja-L115a Wickham Antony Darnell Joseph Roblnson Page 4
Open Doors Network Trustees, Report (contlnuedl In selectSng Individuals for appointment as charity trustee5, the charity trustees must have regard to the skllls, knowledge aDd experience needed for the effectlye adminSstration of the CIO. Apart from the flrst charlty trustees, unless the charity trustees declde otherwise every trustee must be appolnted lor B term of two years by a resolution passed at a properly convened meeting of the charity tiustees. New Trustees would be chosen from amon@si Chyrch members of Integrlty and lèadership abillty and who also share the same values and vlslon. On being appolnted, new Trustees wlll work alongside existing Trustee5 to gatn an und8rstandlnE of the role that they bave undertaken. Elders are appolnted by exlsllng EldeTS. Four elders, Davld Klng {pastorl, Steve Mcvelgh Ipastorl, Rlchard Berkley and Tony Darnell comprise tho leader5hlp team. The Leadershlp Team Shares the responsiblllty for leadership and day-to-day managernent of the Church. 2nd appolnts and supports others In the leadership of disclpleship groups, minlstry teams, etc Open Doors NetWOTk operates as New Llfe Church and is associated wlth Relational Mlsslon part of NewFrontiers and Is a member of the Evangelical Alllance. It 15 also actively Involved Sn the Tunbrldg¢ Wells Fellowshlp of Evangelicals and churches Together for Tunbrldge Wells. None OF these bodles has any control over the operation of the Chyrch or Its flnancial affalrs. Reference and admlnlstrative Information is provided on the page followlng the cover sheet. Statement of Trustees, Respon51bllltle5 The trustees are responsible for preparing the trustees, report and the flnanclal stakernents In accordance wlth the United Klngdom Accountlng Standards Iunlted Klngdom Generally Accepted Atcounting Practlcel and applicable law and regulatlons. The law appllcable to charltles requ5res tbe trustees to prepare flnanclal ststements for each flnancial year whlch Slve a true and falr vlew of the state of 4ffairs of the charity and of the IncomSng Tesources and application of resources of the charlty for th4t perlod. In preparlng these flnanclal statements, the trustees ara requlred to: select sultable accounting policies and then apply them conslstently; observe the methods and prlnclple5 In the ChaTltles SORP,. make judgements and estimates that are reasonable and prudent; state whether appll¢able accountlng standard5 havè been followed, subject to any mateyial departures disclosed and explained In the flnan¢lal statements; and prepare the Iinancial statements on the golng concern basls unles5 It is IDappropriate to presume that the ch3rity wlll contlnue In business. The trustees are responsible for keeplng proper accountlng records that dlsclose wlth reasonable accuracy at any tlme the financlal posltlon of the ¢h3rSty and enable them to eDsure that the flnanclal statements comply wlth the Charlties Act 2011, the charities (Accounts and Reports) Regul3tlons 2008, and the provlsions of the constltutlon. The trustees are 3lso responslble for safeguardlng the assets of the charity and hence for taklng reasonable steps for thè PTeventlon and detection of fraud and other Irregularltles. The trustees are responslble for the malntenance and integTity of the corporate and flnanclal information Included on the charitable company's webslte. Legislatlon governing the preparatlon and dissemlnation of financlal statements may dlffer from leglslatlon In other Surisdlctions, Page 5
Qpon Doors Network Trustees, Report (contlnued) The annual report was approved by the trustees of the Charity on and slgned on It5 behalf by: Philip Watson Trustee Page 6
Open Doors Network Independent Examiner's Report to the trustees of Open Doors Network l Teport to the charity trustees on my examinatlon of the accounts of the charlty for the year ended 31 August 2024 whlch comprise the Statement of Financlal Actlviile5, the Balan Sheet and related notes. Thi5 report Is made 501oly lo the charlvs trusteès, as a body, In èc¢oidance with section 145 01 thc charltle5 Act 2011, My work has been undertaken so that I mlght state to the ch3rlWs trustees those matters l am roqulred to slate to them thls.report tsnd fot ¢bO Other purpose. To the fullest extènl permltted by law, I do nol a¢cÉpt or respori¥.Iblllty 10 iinyorÉe other th.an the Eharity and the ¢h3rlVs trustees ag a hody,.for my work, for thls report, or for the opinluns I have forrned, Responsibllltles and basis of repDrt As the charity trustees of Open Doors Network you are responsible for the preparatlon of the accounts In accordance with the requlrements of the Charities Act 20111'the ACYI. I report In respect of my examination of the Open Doors Network's accounts carrled out under 5ertion 145 of the 2011 Act and In carrylng out my examinatlon I have followed all the appllcable Diredlons glven by the Charlty Comrnlssion under sectlon 14515llbl of the Act. An independent examlnatlon does not Involve gathering all the evldence that wDuld be requlred In an audSt and consequently does not cover all the matters that an auditor CODslders In glvlng thelr oplnion on the flnanclal statements. The plannin8 and conduct ol an audit Boes beyond the Ilmlted assurance that an Independent ¢xaminatlon can provlde. Consequently l express no oplnion as to whether the financlal slatEm#Dt5 pres¢nt D 'true and falr, vleiv and rhy repon 15 limlted to those 5pecilic"matters set out In the Independent examlnerfs statement. Independent examlnerfs statement Slnce Open Ooors Network's gross Income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. l ¢onflrm that l am quallfled to undertake the examlnation because l am a member of ICAEW, which Is one of the Ilsted bodies. I have eompleted my examlnatSon. I confirm that no materlal matters have come tp my attentlon In connection wlth the examlnatlon giving me cause to belleve that In ar¥y mater131 respect., l. accountSnE records were not kept In respert of Open Doors Network as requlred by sectlon 130 Df the Act: or 2. the flnanclal statements do not accord wlth those records; or 3. the financial statements do not Comply with the aecountlng requlrements ¢on¢erning the form and content OF accounts set out In the Charities IAccounts ajd Report51 Regulatlons 2008 other than anv requirement that the accounts glve a 'true and falr vlew, whlch Is not a matter considered as part of an Independent examlnatlon. I have no concerns and have come across no other matters In connectlon with the examlnation to whl¢h attention should be dr4wn In thls report In ordef to enable a proper understandlng of the accounts to be reached. Page 7
Open Doors Network Ind¢pendent Examlner's Reportto the trustees of Open Doors Network (continued) TIM Sulllvan FCA Field Syllivan Llrnited 9 Hare & Billet Road Blackheath London SE3 ORB Date...... Page 8
r4 o Ln m o) i M *t Eo m ¢ 111. '114111111
Open Doors Network (Reglstration number: 1160706) Balance Sheet as at 31 August 2024 2024 2023 Note Flxed asse15 Tangible assets 1,071,239 1,088,A22 Cvrrent a55ets Debtor5 Cash at bank and In hand 17,849 157,827 Is 19,263 113,199 162,462 175,676 Credltors: Amounts falllng due wlthln one year 16 {5,1911 {5,4811 157,271 170,195 Net current a55ets 1,228,510 1,258,617 Net assets Fund$ of the charity: Restrlrted jpcomè funds Re5trlcted funds 11,595 12,347 Unrestrlcted Income funds unrestricted funds 1,216,915 1,246,270 Totql fund5 19 1,228,510 1,258,617 an¢lal 5t3tements on p3ge5 9 to 21 were approved by the trustees, and authorised for Issue on and signed on thelr behalf by.. Phllip Watson Trustee The notes on pages 11 to 21 form an Integral part Of these financlal statements. Page 10
Open Doors Network Notes to the Flnancial Statement5 for the Year Endgd 31 August 2024 I CharSty Status The charlty is domlclled In England and Wales. The address of it5 registered off Ice is: The Old Ambulance Station Speldhurst Road Tuntkrldge Wells T4 OJA 2 AccountlDg pollcles Statement of cornpllance The financlal statements have been prepared Ir) accordance wlth Accountlng and Reportlng by choritles: Statement of Recommended Practice applicable to charities preparing their accounts In accordance wlth the FSn3nclal Reporting Slandard applicable In the UK and Republic of Ireland IFRS 1021 leffertive I january 20191 Icharltles SORP IFRS 1021 Second edltlon October 20191, the Financl31 Roportlng Standard applicable In the UK and Republic of Ireland IFRS 1021, They also comply wSth the Companies Act 2006 and Charltles Art 2011. Basls of prÈparatlon Open Doors t4etwork meet5 the deflnltlon of a publlc benellt entity under FRS 102. The accounts Ifinanclal statements) have been prepared under the hlstOTical cost conventlon wlth Items recognlged at cost or transactlon value unless otherwlse stated In the relev3nt notelsl to these accounts. Goln8 ¢oncern The trustees conslder that there are no mqterlal uncertalntles about the charlty's ablli<y to contlnue as 3 golng contern. judgements and key 50urce5 of esllmatlon untertainty In the appll¢ation of the charltfs accounting policles, the trustee5 are requtred to make Judgements, estimates and assumptlons abovl the carrying amount of assets and liabllltie5 that are not readily apparèr)t from other sources. The estimates and assoclated assumptions are based on historlcal experience and other factors that are considered to be relevant. Actual restjlts may dlffer frorn these estlmates. The estimates and underlylng assumptlons are revlewed on an ongolng bas15. Revlslons to accountlng estlTnates are recognlsed In the perlods In whlch the estimate Is revised where r¢visions affects only that perlod, or In the perlod of the revlslon and future periods where the revlslons affects both current and futltre perlods. Income and endowments Voluntqry income Including donatlons, glfts, legacles and Brant5 that provide core fundlng or are of a general nature 15 recognlsed when the charity has entitlement lo tho income, It is probable that the income wlll be recelved and the amount can be measured with sufficlent [ellability. Page 11
Open Doors Network Note5 to the FSnanclal Statement5 for the Year Ended 31 August 2024 (contlnued) Donotions and legtttles Ponations and legacles ale recognlsed on a receivable basls when recelpt Is probabSe and the Amount can be rellably measured. Investment Income Dividends are recognlsed once the dlvldend has been declared and notificatlon has been received of the dlvldend duè. Expendlture All expendlture is retogni5ed once there Is a legal or constructlve obligation to that expenditure, it15 probable settlement Is requlred and the amount can be measured reliably. All costs are allocated to the appllcable expendlture heading that aggregate simllar costs ID that category. Where cost5 cannot be dlrectly attrlbuted to particu5ar headings they have been ?IloGated on a basls conslstent wlth the use of resources. with central staff costs allocated on the basls of tlme spent, and deprec13tlon charges allocated on thÈ portioN of the asset's use. other support¢ost5 ale allocated based on the spread tsf staff costs. Chorltoble ortlvltles Charltable expenditure comprises those costs Incurred by the charlty In the delivery of Its actlvitles and servlce5 for Its beneflciaries. It includes both costs that can be allocated dlrectly to such actlvitles and those costs of an Indirect nature necessary to support them. Grantprovlslons PTovlslons for grants are made wheT) the intention to make a grant has been communicated to the recjplent but there is uncertainty about either the timing of the grant or the amount of grant payable, Support cost5 Support costs include Central functlon5 and have been allocated to actlvlty cost categorle5 on a basls conslstent wlth the use of resource5, for example, allocatirig property costs by floor areas, or per caplta, staff Costs by the tlme spent and other costs by thelr usage. Taxation The charlty is considered to pèss the tests set out In Paragraph I Schedule 6 of the Flnanoe Act 2010 and therefore It meets the definltlon of a charltable company for VK Cofporatlon tax purposes. Accordlnglyi the charlty Is potentlally exempt from taxatlon In Tespect of IDcome or capltal galns recelved wlthln categorles covered by Chapter 3 Part 11 of the Corporation Tax Att 2010 or Sectlon 256 01 the Taxation of Chargeable Galns Acl 1992, to the extent that Such Income or galns are applled excluslvely lo Charltable purposes. Tenglble fixed 3sset5 Indlvldual fixed assets costlnB bl00 or more are InStlally recorded at cost, less any subsequent accumulated depreciatlon and subseqtjent accumulated Impairment losses. Page 12
Open Doors Network Notes to the Flnanclal Statements for the Year Ended 31 August 2024 (contlnued) Depreclatlon and amortlsatlon Depreclatlon is provided on tangible fixed assets $0 85 to wrlte off the cost or valuatlon, less any estlmated resldual value, over thelr expected useful economic life as follows., Asset class Freehold land & bulldln8S Flxtures & flttin8S Depreclatlon method aDd rate SO years Ibuilding only) 25% stralght line Trade debtors Trade debtors are amounts due from customers for rnerchandlse sold or 5ervlces perfoTmed In the ordlnary course of buslness, Tfade debtors are recognised Initlally al the tronsaction price, Thèy are subsequently measured at amortlsed cost using the effettlvt interest method, less provision tor impalrment. A provision for the impairment ol tfade debtors Is established when there Is oblectlve evldence that the charity will not be able to collect all amounts due occording to the original terms of the recelvables. Cash and Cash equlvalentS Cash and cash equlvalents comprlse cash on hand and c211 deposlts, and other short-term hlghly liquld Ihvestments that are readlly convertlble to a known amount of cash and are subled to an In51gnlficant rlsk of change In value. Fund strurtUTe Unrestrlcted Income fund5 are general funds that are avallable for use at the trustees dlscretion In furtherance of the objEctlves of the tharlty. Designated funds are unrestricted funds set aside for speclflc purposes at the dlscretion of ihe tIUStees. Re5tritted Income funds are those donated for vse In a particular area or for 5peclllc purp05e5, the use of whlch Is restrlcted to that are8 or purpose. Flnanclal Instruments Cla55lficotlon Financlal assets and financial IlabllltSes are reco8nlsed when the charlty becomes a party to the contractual provision5 of the Instrument, Flnanclal li3billtles ind equlty Instruments are classifled accordlng to the substance ol ihe contractual arran8ement5 entered Into. An equlty Instrument Is any contract that evlden¢es a re51dual Inleresl In the assets of the charltv 2fter deductlwig 211 of Its liabilltie5. Falrvalue measurement The best evidence of falr value Is a quoted prlce for an IdeDtical a55el In an actlve ma¥ket. When quoted prlces are unavallable, the price of B recent transaction for an Identical asset provldes evidence of fair value as long as there has not been a signlficant change In economlc circumstances or a signlflcaDt lapse of tlme 51nce the transactlon ttsok place. 11 the market is not ac*lve and recent transactlon5 OF an identical asset on their own are not a sopd estimate of falr value, the fair value Is estimated by usSng a valuatlon technlque. Page 13
Open Doors Network Notes to the Flnancial Statements for the Year Ended 31 August 2024 Icontlnued) 3 Income from donotlons and lega¢les Total 2024 Total 2023 Donatlons and legacles,. Donatlons from Indlvlduals Gjft aid reclalmed 299,116 54,215 248,556 353,331 293,94Z 4 Income from charltable artlvltles Total 2024 Total 2023 Charitable actlvltles and event5 Rental In¢ome 25,692 J7,47¢ 12,584 18,046 43,166 30,630 5 Investment Income Total 2024 Total 2023 Interest recelvable and slmilar IDcome,' Interest recelvable on bank deposits 85 1,563 6 Qiber Income Unrestrlrted funds Designated Total 2024 94,308 94,308 Insurance cl4lm Page 14
Qpen Door5 Network Notes to the Flnanclal Statements for the Year Ended 31 August 20241contlnuedl 7 Expendlture on tharltable activltles Total 2024 Total 2023 Note 4,820 17,324 45,091 13,149 19,638 250 Staff tralnlng and conferences uillltle5 2nd Insurance Repalrs and renewals Other church mlnlstry and events Depreciatlon Vlsltln8 speakers Youth and chlldrens actlvltSes Evangelism arhd outreach Other church rosts Pastoral and 5laff expense5 GTantfundlng of activltios 51aff costs Support cost5 6,306 19,754 189,184 26,959 19,849 500 9,253 18.745 2,463 2,879 37,463 127,430 32,841 JO,213 16,084 7,319 4.957 48,395 136,576 36,379 522,475 li 331,346 8 Analysls rkf governance and support cost5 Support cost5 Total 2024 Total 2023 28,435 14171 5,672 2,412 277 26,682 Staff costs IProlit}1105s on dlsposal of tangible fixed assets off Ice expenses Independent examlner'5 fee Bank charges 3,662 2,340 157 36,379 32,841 Page 15
Open Doors Network Notes to the Finan¢lal Statements for the Year Ended 31 August 20241contlnued) 9 Gr4nt.makln8 Analysls of grants fjr4pts to InstStutlon5 2024 2023 Grants to Indlviduals 2024 2023 Analy$15 Pioneer Mis5104 Relatlonal Mlsslon People Inteynatlonal Fundcla Llght House Communlty Cornerstone CSty Church Stewardshlp SeTvlces Ev4n8elical steppinE Stone Charltzble Trust Reilly's Reyelatjon Church Less than £1,000 fjranls to Indivlduals Church of the Ilvln8 3.150 4,500 2,700 8,100 3,150 4,500 2,700 9,186 3,062 1,163 7,865 5,662 3,333 5,S19 1,3SO 280 J,350 .350 3,221 1,980 12,708 46,415 34,243 1,980 3,221 10 Trustees rèmuneratlon and expenses In accordance wlth provlsions In the goyernlng docvmerst, durlng the year David Klng received remuneratlon for hls pastoral servlces of £58,19412023.. ES4,4271 and pension ¢ontrlbutlons of £5,81912023.. £5,443). Stephen Mcvelgh recelved Ternuneratlon for hls pastoral setvlces of £58,194 12023.. £54,42712nd penslon contributlon5 of £5,81912023.. £5,443). Kathryn Green recelved remunerdtlon for hpr admlnlstratlve 5ervlces ol £6,60512023: £6,113) and peDsion contributlons of E61112023'. £6611. Dudng the year six trustee5 Incurred expenses totalllng £13,25612023: £11,371> for travelllng, subslstence, tralning and pastoral expenses whlch were all incurred In performance of duties as employees or volunteers lor the Charlty and not a5 tru5tee5. Page 16
Open Poors Network Notes to the Financlal Statements forthe Year Ended 31 August 2024 (continued) 11 Staff costs The aggregate payroll costs weTe as follows.. 2024 2023 Staff costs durlng the year were: Wa8es and $31arles Social security costs Pension costs 142,238 8,551 14,222 133,092 7,710 13,310 165,011 154,112 The monthly average number of persons lincluding senior management I leadershlp team) employed by the charlty durlng the year expressed as full tlme equivalents was as follows: 2024 No 2923 Pastoral Admln15tratlve No ernployee recelved emoluments of more than £60,000 during the year The total ewnployee beneflts of the key management personnel of the charity were £136,575 12023 £139,155), 12 Taxatlon The eharity Is a reglstered charjty and Is therefove exempt from taxatlon. 13 Pen51on and other scheme5 Deflned contrlbutlon schemes The charity operates a defined c(>ntributlon pension scheme for all qualifylng employees. The assets of the Scheme are held separately from those of the charity In an Independently adtninistered fund. The charge to statement of flnanclal actlvltles In respect of deflned contrlbutlon schemes was £13.31012022'. £12,531}. Page 17
Open Doors Network Notes to the Flnancial Statements for theyear Ended 31 August 2024 (continuedl 14 Tanglble lixed assets land and bulldlngs Furnlturè and equlpm¢nt Total Cost At 15eptember 2023 Addltlons Disposals 1,366,41B 1,440,534 2,666 11,8131 2,666 11,8131 At 31 August 2024 1.366,418 741,969 1,441,387 Depreclation At I Septemb¢r 2023 Charge for the year Ellmlnated on d15posals 291,034 13.664 61,078 6,185 11,8131 352,112 19,849 11,8131 Al 31 Ausust 2024 304,fj98 65,450 370,148 Net book Value Al 31 August 2024 1,061,720 9,519 1,071,259 At 31 August 2023 1,075,384 J3,03S 1,088,422 35 Debtors 2024 2023 Prepayments Other debtors 4,278 14,985 4,199 13,650 19,263 17,849 16 Credltors: amounts falllng due wltbln one year 2024 2023 Other credltors Deferred Income 5,076 115 3,513 1,96a 5,481 P4$e 18
Open Doors Network Notes to the Flnanclal Statements forthe Year Ended 31 August 2024 (contlnued) 17 Commltments Operalihg le?5e (0mItmentS The merged charlty leases one property. No renlal payment5 are due under the terms of the le35e explrlng on 22 June 2092. Malntenance and Insurance costs remaln the responsibillty of the charlty. 18 Related party transactlon5 DLtrlng the year the charlty made the followlng related p4rty transartlons: Durlng the year donation5 of £87,12612023.' £86,347) were reC1ved from trustees and related partles. There was a total of £13,25612023: 11,3711 of trustees expenses. 19 Funds Balance at I September 2023 Balance at 31 August 2024 IncOlnE resources Resources expended Transfers Vnrestrlcted funds 1.156,072 362,796 1302,9551 13,6701 1,212,213 Deslgnoted Dlscretionary hardshlp fund Repalr lund Misslon fund 4,172 86,026 500 14851 4,000 4.672 94,708 3,909 1180,2491 16,0381 186,2871 1,871 90,198 98,617 4,015 6,543 Total unrestrlrted funds 1,246,270 461,413 1489,2421 345 1,218,786 Restrlcted fuDds Speclal collections and events Timothy fund Hardshlp fund Mlsslon fund Liehthouse communlty Relllys Ivla Stewardshlpl Mlnislry gifts for members 585 4,111 818 1,823 26,895 126,8501 630 4,311 328 15001 11,8231 12,3801 11,6801 2,380 1,680 5,000 1345) 1345 4,655 12,347 30,955 133,2331 9,724 Total funds 1,258,617 492,368 1522,4751 1,228,510 PaBe lg
Open Door5 Network Notes to the Flnanclal Statements forthe Year Ended 31 August 2024 (continued) Balance at I September 2022 Balance at 31 August 2023 Incomlng resources Resources expended Transfers Unrestr5ded funds 1,160,892 298,202 1264,516) 13S,5061 1,156,072 Deslgnuted Dlscretionary hard5hlp fund Repalr fund 2,912 88,831 150 413 I,oio 34.498 4,172 86,026 137,7161 137,7161 91,743 663 35,508 90,198 Total unre5trlcted funds 1,252,635 298,865 1302,2321 12,9981 1,246,270 Restrlcted funds Speclal collectlons and events Tlmothy fund Hardshlp fund Misslon fund Reilly's fund Bestrleted Funds G 3,643 4,111 1,471 2,646 14,750 117,8061 {2) 585 4,111 828 16431 18,9591 11,70fj1 5,136 1,706 5,QtKJ 1,823 5,000 11,871 26,592 129,1141 2,998 12,347 Total funds 1,264,506 325,457 1331,3461 1,258.617 The specjfic purposes for whlch the funds are to be applled are a5 follows.. The hardship fund is malntalned to assist persons known to the church who have flnanc131 dlfflcultles and grants are made at the dlscretlon oFthe trustees. The repalrfund Is malntained to hold monles sel aside to help with futvre repalrs to church property Special collection5 and events thls relates to 3 varlety of speclal collertiOn5 taken by the church Includlng n)oney raised for the support of oversees workers and specific events run frorn time to tlme by the church. Tlmothy fund- thls15 to flnante the salary of tralnee pastors. Hardshlp fund - thls 15 malntalned to assist persons known to the church who have flnancl31 difflcultles and grants are made at the discretion of the trustees. Mlssion fund used to cover mlsslon trips and support of others working In mlsslons. Buildlng fund- thls represents monles glven for use In connectlon wlth the church bullding. Rellly's fund- is for the support of church leader5 In a churcb plant In Gdansk, Poland. Page 20
Open Doors Network Notes to the Flnancial Statements forthe Year Ended 31 August 2024 (continued) Transfers: Water boller £489 transferred from The Galehou5e as I wanted It tij come from thls fund, but as It wa5 an asset It would not not drawn down the balance. Mlsslons: We transfer £1,000 a quarter thls year Into our Mlsslons fund to allow money for Mlsslon work bv one of our employees (travel costs), It come5 from our 'giylng out, budget. You'll see E4,000 per year In the bud8et 23-24, Boiler fund- We budgeted to save up for new bollers, £12,000 for the year so I transferred £3,000 per quarte Mlnlsiry Glfts to Members - We had a ladies wÈekend whlch costs weren't completed covered for and the Mlnlstry gifts lund allows for g1ft5 to members to attend events such as th15, 501 drew down money to zero the Ladies weekend off. Bcller fund- I transferred £35K of reserves at year end-Thls Is deslgnated so doesn't need recordlng Hardshlp-The leaders Ilke to have £500Q in the Hard5hlp fund at the start Df the year 501 topped th15 up year end and carrled it over as £500 had been spent durlng the year 20 Analysis of net asset5 between funds Total funds at 31 August 2024 Unrostrlcted funds General Deslgnated Reslrl¢ted fund5 Tanglble fixed assets Current assets 1,071,239 146,195 15,1911 1,071,239 162,462 15,1911 4,672 11,595 Current Ilabllltles Total net assets 1,212,243 4,672 11,595 1,228,510 Total fund5 41 31 August ZQ23 Unre5trlcted funds General Deslgnated Restricted funds T8nglble flxed assets Cyrrent assets Current Ilabllltles 1,088,422 73,131 15,4811 1,088,422 175,676 15,4811 90,198 12,347 Total Det assets 3,156,072 90,198 12,347 1,258,617 Pa8e 21