Report and Accounts 2023 ## **THE ARC** Audited Financial Statements and Trustee Report for the Year Ended 31 December 2024 ## **Table of Contents** |**Organisation Details ..............................................................**
**Trustees And Elders’ Statement ..........................................**
**Objectives ................................................................................**
**Achievements .........................................................................**
**Public Beneft ..........................................................................**
**Activities ..................................................................................**
**Future Plans ............................................................................**
**Trustees Review .....................................................................**
**Statement Of Trusteess’ Responsibilities ……….................**
**Independent Auditor’s Report …………………………….............**
**Statement Of Financial Activities …………….........................**
**Balance Sheet ……………………………………………......................**
**Cash Flow Statement ………………………………….....................**
**Notes To The Accounts .........................................................**|**03**
**04**
**06**
**06**
**07**
**09**
**10**
**11**
**15**
**16**
**20**
**21**
**23**
**24**| |---|---| 02 | Charity Registration Number 1165652 Report and Accounts 2024 ## **THE ARC** ## Organisation Details for The Year Ended 31 December 2024 ## **Charity Name** The ARC ## **Charity (CIO) Registration No.** 1165652 ## **Registered Address** **Telephone:** 0208 555 4245 **Email:** info@arc4u.org.uk ARC Church, 66A Sebert Road, London E7 0NJ ## **Bankers** NatWest Bank PLC HSBC Stratford Broadway Stratford Ground Floor Gredley House 59-61 The Mall 1 – 11 Broadway London E15 1XF London E15 4BQ ## **Independent Auditors** AD Williams & Co 102 Green Lane Morden, London SM4 6SS ## **Accountants** Smith and Johnson Limited Unit 24 Highcroft Industrial Estate Enterprise Road Horndean, Waterlooville Hampshire P08 0BT ## **Board of Trustees** Mrs Samantha Miranda Trustee Mr Peter Nembhard Trustee Mr Colin Glen Trustee Mr Davis Kunihira Trustee Mrs Tracey Miller Trustee Natasha Osaro-Osaghae Secretary 03 | Charity Registration Number 1165652 Report and Accounts 2024 ## **THE ARC** ## **Trustees and Elders’ Statement for the year ended 31 December 2024** ## **TRUSTEES AND ELDERS’ STATEMENT** “They devoted themselves to the apostles’ teaching and to fellowship, to the breaking of bread and to prayer.” — Acts 2:42 (NIV) In 2024, ARC Global continued to grow in strength, unity, and purpose, living out the spirit of Acts 2:42. As a family of churches, we devoted ourselves to sound teaching, deep fellowship, heartfelt worship, and faithful prayer. This foundation has fuelled a year of transformation, impact, and new beginnings. ## This year saw remarkable growth across several of our ARC churches. One of the standout achievements was the purchase and renovation of our new ARC South building at 113 Annerley Road. Through prayer, unity, and sacrificial giving, we came together as a community to acquire and transform this property into a hub for worship and outreach. The building now stands as a testament to our shared faith and commitment to the local community. Another significant development was the evolution of our Sports Day, which has now become the Global Big Day Out-a vibrant event that brings together members from our churches and local community for fun, fellowship, and connection. Similarly, our annual conference experienced record attendance this year. With Anthony Brown from the USA joining us, we enjoyed powerful teaching, dynamic worship, and meaningful moments of prayer and ministry. ## **Outreaches, Missions, and International Impact** Our outreach programs and mission trips have seen incredible fruit. We were especially encouraged by the success of our first pastoral retreat in Uganda, which offered refreshment, vision, and spiritual encouragement to leaders from the region. While we experienced the loss of one of our flagship congregations, we have continued to move forward with strength and purpose. ARC Global remains resilient, with a clear vision to plant and build healthy churches around the world. ## **Leadership & Community** Our commitment to leadership development remained central. Monthly gatherings for lead elders allowed for training, fellowship, and collaborative planning. These sessions became critical in evaluating the health of our congregations and equipping leaders to serve effectively. We also hosted training intensives for elders and deacons, preparing both current and emerging leaders to step confidently into their roles. We encouraged inter-church fellowship, with members visiting other ARC congregations for weekends of worship, service, and mutual support. This culture of connectedness continues to strengthen the bonds between our churches. As we continue into 2024, we remain devoted to teaching, fellowship, the breaking of bread, and prayer. We believe that we are Better Together, and that through unity and faithful obedience, God will continue to expand His Kingdom through ARC Global. Let’s keep building. Let’s keep reaching. Let’s stay devoted. Trustees & Elders **ARC Global Churches** 04 | Charity Registration Number 1165652 Report and Accounts 2024 ## **THE ARC** ## **Trustees and Elders’ Statement for the year ended 31 December 2024** ## **Aims and Purpose** ARC held its first service in 1997 with four people. It is now home to more than 1000 members across 9 locations. The founding members set out to make ARC a relevant, radical and real church in the heart of East London, positively impacting the lives of the people within the community. A relevant church is a practical church that purposefully and intentionally adds value to the lives of everyone with which it comes into contact. ## **The ARC Global Mission** ## **REACHING NON-BELIEVERS** ## **TEACHING BELIEVERS** Following Jesus’ ascension, He commanded His disciples to go into all the world and proclaim the gospel to the whole creation (Mark 16:15). Additionally, Jesus promised that the Holy Spirit would empower them to bear witness both locally and globally (Acts 1:8). To reach the lost, our congregations send outreach teams to partner with churches to support in reaching their communities. It is not necessary to travel by plane to accomplish missions, as we emphasise the importance of local and global outreach. After Jesus commanded his disciples to preach the gospel, He assigned them the responsibility of making disciples by imparting His teachings to believers (Matthew 28:20). Our church community fosters discipleship through various avenues such as corporate gatherings, life groups, bible studies and ARC Bible School. Additionally, we are committed to raising leaders who exemplify the way of life and teachings of the Elders (1 Corinthians 4:17 and 2 Timothy 3:10). ## **RAISING LEADERS** ## **SENDING LEADERS** The book of Acts provides a blueprint for the church, and we firmly believe that the health of a church is primarily dependent on the devotion of its members. We use Acts 2:42-47 as a fundamental reference to assess the well-being of a church. To cultivate a healthy church, it is crucial for us to continually be in the process of raising up Elders and Deacons who work as a cohesive team to govern and lead the church (1 Timothy 3:1-13, Titus 1:5-16, Acts 6:1-7). Establishing a healthy church entails the emergence of godly leaders, which should prompt us to become a sending church. As part of our vision, we believe that church planting is the most effective means of reaching local communities (Ephesians 3:10-11). As a best practice, we aim to plant an Elder/Eldership couple with a team of diverse leaders and emerging leaders possessing various gifts to aid in the building of the church plant. Our members can join our outreach teams and dedicate short or long-term periods to support new church plants or assist existing churches in need. 05 | Charity Registration Number 1165652 Report and Accounts 2024 **Objectives and Achievements for the year ended 31 December 2024** ## **THE ARC** ## **OBJECTIVES** The objectives of the charity have remained the same as in previous years. **To advance the To advance To promote and fulfil Christian faith in education in other charitable accordance with our accordance with purposes beneficial statement of beliefs. Christian principles. to the community.** These objectives outline our purpose and goals as a charity. They are embodied in the specific activities that we undertake each year. ## **ACHIEVEMENTS** ACROSS ARC GLOBAL BRANCHES **----- Start of picture text -----**
21
152
Baby
Baptisms
Dedications
17
33
Weddings Funerals
**----- End of picture text -----**
06 | Charity Registration Number 1165652 Report and Accounts 2024 ## **THE ARC** ## ## The Trustees confirm that we have complied with our duty in section 17 of the Charities Act 2011 to have regard to the Charity Commissions general guidance on public benefit. **ARC Forest Gate** have facilitated multiple youth activities, outreaches and missions through the year. They have served the community by partnering with local organisations who support marginalised groups (Alcoholics Anonymous) and providing event space throughout the year for public sector institutions (police, charities etc). Additionally, they have assisted over 190 families in their community. Forest Gate have also engaged with the elderly in the local community by hosting The Wednesday Super Seniors Elderly Club. This directly tackles loneliness and encourages social integration amongst isolated seniors. Lastly, they also hosted a family community fun day in the form of a Sports Day. 07 | Charity Registration Number 1165652 Report and Accounts 2024 ## **THE ARC** ## **ARC Dagenham** have done many things to support the local community in 2024. At the start of the year, they attended and participated in the Dagenham Library Family Hub Launch. The event provided an opportunity to meet/engage with parents and children; connect with other Family Hub Navigators within the borough; find out about/network with community and voluntary groups within the borough whilst promote their Phonics Booster Programme which they launched in April of that year. At Arc Dagenham, they recognise the importance that phonics plays in enabling children to read and write. They recognised also that some children may have had gaps in their learning/understanding of phonics partially due to the Covid pandemic, language barrier, learning ability or through lack of parental support at home etc, which may be attributed to the parents’ lack of understanding of phonics. As a result of this, they launched the Phonics Booster Programme for Children 4-8 years. This branch managed to support over 60 families through the year. **ARC 2.0** have done many things to engage with the community of Upton Park and East London as a whole. In 2024, they hosted a range of outreach and engagement activities designed to bring people together, meet practical needs, and strengthen local relationships. From their Christmas outreach and food provision for families in need, to community meetings with local police exploring how we as a ministry can support safety and wellbeing, they are currently committed to making an even greater positive impact in the years ahead. They also created joyful, connecting experiences through family BBQs, games nights, a talent show, or health-focused initiatives like the Steps Challenge and Agape Sundays. Additionally, 2.0 managed to support over 100 families in the year 2024. **ARC Birmingham** have also had a positive impact on their community in 2024. Through the year they have managed to support 5 families. Additionally, they hold a weekly evangelism outreach initiative called Coffee Morning. The aim is to engage with the community over snacks, keep in touch with them, and share the gospel. **ARC South** have supported between 40 and 60 families in this year and supported their community through Local food banks, outreaches and missions. They served at the local food bank every third Saturday, bi-monthly, held three outreach events on Sydenham High Street, sharing the good news with the community. They prayed for many people during these sessions and saw two individuals attend church as a result. ARC South also had a summer BBQ where people invited friends and family from the community. Lastly, the church came together to raise funds for their new building through a collective GoFundMe campaign, which has raised £16,166 so far. They also launched creative initiatives like “Sole 4 Souls,” where members donated quality second-hand shoes to be sold online. Some members even set up personal fundraising pages and took on running challenges, sharing them with friends and family to support the cause. 08 | Charity Registration Number 1165652 Report and Accounts 2024 **ARC Global Churches & Activities for the year ended 31 December 2024** ## **THE ARC** ## **ARC Global Churches & Activities** ARC Global churches activities reflect Christ in all that we do. These activities help those in need, mentoring and guiding young people in our communities and caring for the elderly. The work of the church is facilitated through prayer, worship and teaching the gospel which is led by our team of lead elders across the branches with their teams. **ARC 2.0 ARC Birmingham ARC Dagenham ARC Edmonton ARC Forest Gate ARC South ARC Woodford** Lead Elder Omar Tackie Lead Elder Martin Olowe Lead Elder Peter Nembhard Lead Elder Colin Glen Group of Elders Lead Elder Davis Kunihira Lead Elder Colin Salmon ## **Activities** - ARC Bible School - Pastoral Care - Youth Mentoring - Goons for God (Evangelism) - Cedars Elderly Day Care - Bible Teaching and Discipleship - Men’s Ministry - Women’s Ministry - Life Groups - Food Bank - Missions - Church Planting 09 | Charity Registration Number 1165652 Report and Accounts 2024 **Future Plans for the year ended 31 December 2024** ## **THE ARC** ## **FUTURE PLANS** **In 2023, we launched ARC Global and hope to continue resourcing and equipping our planted and partner churches.** ## **Global Events** **Global Conference:** A major event aimed at bringing together church leaders and members from all ARC Global congregations to share experiences, strategies, and vision for the future. **Training:** Trustees & Lead Elders Planning and training weekend Global Retreat: This event will provide an opportunity for rest, reflection, and spiritual renewal for church leaders and members. **ARC Global Big Day Out:** A day dedicated to fellowship and community-building among the ARC Global family, likely featuring worship, teaching, and activities designed to strengthen bonds between congregations. ## **Fellowship Initiatives** Throughout the year, ARC Global will implement various initiatives aimed at enhancing fellowship among its churches. These will include regular meetings, joint worship services, and collaborative projects, all designed to unite the congregations under the “Better Together” theme. ## **Leadership and Operations** **Hiring of Key Personnel:** The trustees plan to hire an Evangelism Coordinator to drive outreach efforts globally, as well as an Operations person to manage the dayto-day activities of the organisation, ensuring smooth execution of their plans. **Clarifying Vision and Mission:** A significant part of 2024 will be dedicated to refining and clarifying ARC Global’s vision and mission, ensuring that all congregations are aligned with the collective goals and objectives. **These initiatives reflect ARC Global’s dedication to fostering a strong, unified community of churches that are not only growing in number but also in depth of relationship and shared purpose** 10 | Charity Registration Number 1165652 Report and Accounts 2024 ## **THE ARC** ## **Trustees Review for the year ended 31 December 2024** **The Trustees present their Annual Report and Financial Statements for the year ended 31 December 2024.** ## **Reference and administrative details** The legal name of the charity is THE ARC. The charity’s areas of operation and UK charitable registration. “THE CHARITY IS REGISTERED IN ENGLAND & WALES WITH THE CHARITY COMMISSION IN ENGLAND & WALES (CCEW) WITH CHARITY NUMBER 1165652.” The charity does not operate in any overseas jurisdictions. ## **Legal structure of the charity** The charity is constituted as incorporated charity with charity number 1165652, established by a written constitution. The governing document of the charity is the written constitution approved by the members and endorsed by the charity commission in England& Wales (CCEW). There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law. The trustees are all individuals. ## **The principal operating address, telephone number, email and web addresses of the charity are: -** Telephone: 020 8555 4245 Email: info@arc4u.org.uk Website: www.arc4u.org.uk 66A Sebert Road, Forest Gate, London E7 0NJ ## Mr Peter Nembhard Mr Colin Glen Mrs Yeukai Samantha Miranda Mr Davis Kunihira Ms Tracey Miller Chief Executive - Mr Peter Nembhard The trustees who served as a trustee in the reporting period were as shown above. There were no changes in the period between the year end and the approval of the accounts. 11 | Charity Registration Number 1165652 Report and Accounts 2024 ## **THE ARC** ## **Trustees Review for the year ended 31 December 2024** ## **FINANCIAL REVIEW** ## The financial position of the charity at 31 December 2024 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:- |**Net income**
Unrestricted Revenue Funds available for the general
purposes of the charity
Unrestricted revaluation reserve
Restricted Revenue Funds
Designated Revenue Funds
Restricted Fixed Asset Funds
Designated Fixed Asset Funds
Restricted revaluation reserve
**Total Unrestricted Funds**
**Total Restricted Funds**
**Total Designated Funds**
**Total Funds**|**2024**
**£**
**184,462**
285,513
-
-
2,638,166
46,298
-
-
**285,513**
**46,298**
**2,638,166**
**2,969,977**|**215,916**
**2023**
**£**| |---|---|---| |||1,641,461
904,004| |||**2,545,465**| |||50
-
-| |||**50**| |||-
-| |||**-**| |||**2,545,515**| Financial review of the position at the reporting date, 31 December 2024 The trustees consider the financial performance by the charity during the year to have been satisfactory. The Statement of Financial Activities show incoming resources for the year of £1,414,157(2023 - £1,591,157) total resources expended were £1,229,694 (2023 - £1,354,549 and hence the amount of £184,462(£215,916) was realised as net surplus. Total funds at the year end stand at 2,969,977(2023 - £2,545,513). 12 | Charity Registration Number 1165652 Report and Accounts 2024 ## **THE ARC** ## **Trustees Review for the year ended 31 December 2024** Specific changes in fixed assets are detailed in the notes to the accounts. There was revaluations on the Freehold land and buildings by Strettons Chartered Surveyors on 3 September 2024. The revaluation resulted in an upward adjustment of £240,000. The valuation was performed in accordance with the RICS Valuation – Global Standards (Red Book). Construction in progress relates to refurbishment and development works not yet brought into use at year-end. These will be transferred to operational fixed assets when completed. ## **Policies on reserves** The reserves are being earmarked chiefly for future building projects to cater for the increasing numbers in the congregation; and also for other undertakings of capital nature. The Trustees have considered the level of reserves they wish to retain appropriate to the charity’s needs and are satisfied that the present reserves are adequate based on the charity’s size and the level of commitments held. ## **Availability and adequacy of assets of each of the funds** The board of trustees is satisfied that the charity’s assets in each fund are available and adequate to fulfil its obligations in respect of each fund. ## During the period under review, the financial performance and position of the organisation were positively influenced by several significant events. Notably, the continued growth of our churches and broader organisation contributed to increased engagement and financial support. In addition, we successfully planted two new congregations, further expanding our reach and impact within the community. While these developments involved initial investment, they have laid a strong foundation for future growth and sustainability. ## **The major risks to which the Charity is exposed and reviews and systems to mitigate them.** The charity trustees have given consideration to the major risks to which the charity is exposed and satisfied themselves that systems or procedures are established in order to manage those risks. The ARC is a growing organisation and continues to maintain a healthy net current asset level. Any financial risks identified during 2024 were acted on, to continue to minimise risks as the organisation grows. With Fourteen staff members by the end of the reporting period, there are health and safety and employment law policies in place. The risks posed by staff are being mitigated through modern management systems and practices, regular systems tests and checks including fire drills and alarms. As a matter of general policy, independent professional advice is taken regularly whenever appropriate. 13 | Charity Registration Number 1165652 Report and Accounts 2024 **Trustees Review for the year ended 31 December 2024** ## **THE ARC** ## **Details of The Auditor** Abraham Duncan-Williams 102 Green Lane Morden Surrey SM4 6SS ## **Statement as to disclosure of information to auditors** The trustees state that so far as each of the trustees at the time this report was approved are aware:- - There is no relevant audit information (as defined by section 418(3) of the Companies Act 2006) of which the auditors are unaware, and - The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and establish that the auditors are aware of that information. 14 | Charity Registration Number 1165652 Report and Accounts 2024 **Statement of Trustees’ Responsibilities for the year ended 31 December 2024** ## **THE ARC** ## **STATEMENT OF TRUSTEES’ RESPONSIBILITIES** The charity’s trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP). In particular, charity law requires the Trustees, if they prepare accounts on an accruals basis, to prepare financial statements for each financial year which give a true 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 charity. In preparing those financial statements the Trustees are required to :- - to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). - select suitable accounting policies and apply them consistently; - make judgements and estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business; - state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year. The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity’s transactions and enable them to ensure that the financial statements comply with regulations made under the Charities Act 2011. 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. The Trustees are also responsible for the contents of the Trustees’ report, and the statutory responsibility of the auditor in relation to the Trustees’ report is limited to examining the report and ensuring that the report is consistent with the figures disclosed in the financial statements. This report was approved by the board of trustees on 28 October 2025. ## **Peter Nembhard** ## **Trustee** 15 | Charity Registration Number 1165652 Report and Accounts 2024 ## **THE ARC** ## **Independent auditor’s report to the members of THE ARC** ## **Opinion** We have audited the financial statement of THE ARC for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet, Statement of Cashflow and related notes as set out on pages 20 to 35. These financial statements have been prepared under the accounting policies set out therein. ## **Use of our report** This report is made solely to the charity’s members, as a body, in accordance with Section 144 of the Charities Act 2011 and regulations made under Section 154 of that Act. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in our auditors` report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity’s members and trustees as a body, for our audit work, for this report, or for the opinions we have formed. - give a true and fair view of the state of the charity’s affairs as at 31 December 2024 and of its incoming resources and application of resources, including its income and expenditure for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 16 | Charity Registration Number 1165652 Report and Accounts 2024 ## **THE ARC** ## **Independent auditor’s report to the members of THE ARC** ## **Other information** The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Matters on which we are required to report by exception** We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion: - the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - - we have not received all the information and explanations we require for our audit. ## **Responsibilities of trustees** As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. The trustees have elected for the financial statements to be audited in accordance with the Charities Act 2011 rather than the Companies Act 2006. Accordingly, we have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with regulations made under Section 154 of that Act. Our responsibilities is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board`s Ethical Standards for Auditors. 17 | Charity Registration Number 1165652 Report and Accounts 2024 ## **THE ARC** ## **Independent auditor’s report to the members of THE ARC** ## Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: - We obtained an understanding of the company and the sector in which it operates to identify laws and regulations that could reasonably be expected to have a direct effect on the financial statements. We obtained our understanding in this regard through discussions with management, industry research and our knowledge and experience of the sector. - We designed our audit procedures to ensure consideration is given to any indications of non-compliance by the Charity wlth those laws and regulations. These procedures included, but not limited to: - Discussion with management of any known, or suspected instances of non-compliance by the Charity of those laws and regulations. Especially, Health and Safety at Work Act 1974 and Management of Health and Safety at Work Regulations 1999. - Discussion with management of any, or suspected, incidence of fraud. - - We also identified the risks of material misstatement of the financial statements due to fraud. We have addressed this risk by performing audit procedures which included testing of Journals, reviewing material accounting estimates or evidence of bias, and evaluating the business rationale of any significant transactions that are unusual or outside normal course of business that came to our attention and preliminary and final analytical review to identify any unusual or unexpected relationships or variances. - We addressed the risk of fraud arising from management override of controls by performing audit procedures which included, but were not limited to: the testing of journals, reviewing accounting estimates for evidence of bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business that came to our attention and preliminary and final analytical review to identify any unusual or unexpected relationships or variances. 18 | Charity Registration Number 1165652 Report and Accounts 2024 ## **THE ARC** ## **Independent auditor’s report to the members of THE ARC** There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. A further description of our responsibilities for the audit of the financial statements is available on the Financial Reporting Council’s website at www.frc.org.uk / auditorsresponsibilities. This description forms part of our auditor’s report. 28 October, 2025 ## **Abraham Duncan-Williams FCCA** (Senior Statutory Auditor) Chartered Certified Accountants & Registered Auditors A D Williams & Co LTD 102 Green Lane Morden SM4 6SS 19 | Charity Registration Number 1165652 Report and Accounts 2024 **Statement of Financial Activities for the year ended 31 December 2024** ## **THE ARC** ## **Statement of Financial Activities for the year ended 31 December 2024** |**Income & Endowments from:**
**Expenditure on:**
Donations & Legacies
Charitable activities
Transfer between funds
Charitable activities
**Total expenditure**
**Net income for the year**
**Total income**
Investments
**Note**
2
3
4
5
18
18
18
18
**Reconciliation of funds:-**
Funds brought forward
Revaluation Gain on Property
Net Income
**Net income after transfers**
**Funds carried forward**|**Unrestricted**
**Funds**
**£**
1,273,708
1,210,472
(31,691)
70,668
**1,210,472**
**169,905**
36,000
**1,380,377**
2,545,465
240,000
138,214
**138,214**
**2,923,679**|**2024**
**Restricted**
33,780
19,223
31,691
-
**19,223**
**14,557**
-
**33,780**
**£**
**50**
**46,248**
**46,248**
**46,298**|**Total**
**Funds**
**£**
**1,307,489**
**1,229,694**
**-**
**70,668**
**1,229,694**
**184,462**
**36,000**
**1,414,157**
**2,545,515**
**240,000**
**184,462**
**184,462**
**2,969,977**|**2023**
**Total**
1,489,051
69,646
32,460
**£**| |---|---|---|---|---| |||||**1,591,157**| |||||1,375,241| |||||**1,375,241**| |||||**215,916**| |||||| |||||**215,916**| |||||2,329,599
215,916| |||||**2,545,515**| The Statement of Financial Activities includes all recognised gains and losses arising in the year. All activities derive from continuing operations. The brought forward and carried forward fund balances above agree to the balance sheet. 20 | Charity Registration Number 1165652 Report and Accounts 2024 ## **THE ARC** ## **Balance Sheet for the year ended 31 December 2024** ## **Balance Sheet for the year ended 31 December 2024** ||**Notes**|**2024**|**2024**||**2023**| |---|---|---|---|---|---| |||**£**|**£**|**£**|**£**| |**Fixed assets**|||||| |Tangible assets|10||3,055,375||1,883,905| |Investments|11||637,394||637,394| |**Total fxed assets**|||3,692,768||2,521,299| |**Current assets**|||||| |Debtors|12|10,187||14,548|| |Cash at bank and in hand|13|289,528||693,507|| |**Total current assets**||299,716||708,055|| |**Creditors: amounts falling due**|||||| |**within one year**|14|( 236,060)||(169,239)|| |**Net current assets**|||63,656||538,816| |**Net assets**|||3,756,425||3,060,115| |Creditors: amounts falling due after|||||| |more than one year|15||(786,572)||(514,600)| |**Total Net Assets**|||**2,969,853**||**2,545,515**| |**The total net assets of the charity are funded by the funds of the charity, as follows:**|||||| |**FUNDS**|||||| |**Restricted funds**|18||||| |Restricted Revenue Funds|||46,298||50| |**Unrestricted Funds**|18||||| |Unrestricted Revenue Funds|||285,389||1,641,461| |Unrestricted Revaluation Reserve|||-||904,004| |**Designated Funds**|18||||| |Designated Fixed Asset Reserve|||2,638,166||-| |**Total charity funds**|||**2,969,853**||**2,545,515**| 21 | Charity Registration Number 1165652 Report and Accounts 2024 ## **THE ARC** ## **Balance Sheet for the year ended 31 December 2024** The financial statements have been prepared in accordance with the Charities SORP (FRS 102), the Charities Act 2011, and applicable provisions of the Companies Act 2006 as they apply to charitable organisations. The brought forward and carried forward fund balances in the balance sheet agree to the corresponding amounts reported in the Statement of Financial Activities. The trustees acknowledge their responsibilities under charity law with respect to maintaining adequate accounting records and preparing financial statements that give a true and fair view of the charity’s financial position. Although the charity is not registered with Companies House, the trustees consider that it would be eligible to prepare accounts in accordance with the provisions of Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. The charity is subject to audit under charity legislation, and the report of the independent auditor is set out on page 16. ## **Peter Nembhard** Trustee ## **Approved by the board of trustees on 28 October, 2025** 22 | Charity Registration Number 1165652 Report and Accounts 2024 **Cash Flow Statement for the year ended 31 December 2024** ## **THE ARC** ## **Cash Flow Statement for the year ended 31 December 2024** |**Cash fows from operating activities**
Net income as shown in Statement of Financial Activities
(Increase)/decrease in debtors
Investment income received
Add back depreciation
Increase/(decrease) in creditors
Interest paid
Cash and cash equivalents 1 Jan 2024
**Cash fows from investing activities**
**Cash fows from fnancing activities**
**Cash Reconciliation**
**Cash and cash equivalents 31 Dec 2024**
Purchase of tangible fxed assets
Rental income from investment property
Construction work in progress spend
Cash infows from new borrowings
Repayments of borrowings
Net increase/decrease in cash|**2024**
**£**
184,462
4,361
(36,000)
37,835
19,328
55,946
(776,356)
36,000
(198,357)
350,000
(81,198)
**265,933**
**(938,714)**
693,507
(403,979)
**268,802**
**289,528**|215,915
108,640
(32,460)
23,326
(3,104)
38,380
**2023**
**£**| |---|---|---| |||(73,535)
**350,697**| |||(21,518)
**(73,535)**| |||437,863
255,644
**(21,518)**| |||**693,507**| 23 | Charity Registration Number 1165652 Report and Accounts 2024 **Notes to the Accounts for the year ended 31 December 2024** ## **THE ARC** ## **1. Accounting policies** ## **1.1** ## **Basis of Preparation** The financial statements have been prepared in accordance with: The Charities SORP (FRS 102), Financial Reporting Standard 102 (FRS 102), The Charities Act 2011, and Relevant provisions of the Companies Act 2006 as they apply to charitable organisations. The charity is a public benefit entity and has applied the relevant provisions of FRS 102 accordingly. The financial statements are prepared under the historical cost convention, modified to include certain fixed assets at valuation. As permitted by FRS 102 Section 1A, the charity has taken advantage of the exemption from preparing a ## **1.2** ## **Going Concern** The financial statements have been prepared on a going concern basis. The trustees have reviewed financial forecasts and are satisfied that the charity has sufficient resources to continue to operate for at least twelve months after the date of signing this financial statements. ## **1.3** ## **Fund Accounting** Funds held by the charity are: - **Unrestricted funds:** These are available for use at the discretion of the trustees in furtherance of the charity’s general objectives. - **Designated funds:** Unrestricted funds which have been set aside by the trustees for a particular purpose. The designated fixed asset reserve represents the net book value of tangible fixed assets funded from unrestricted income, less any associated financing. - **Restricted funds:** There are no endowment funds. ## **1.4 Income Recognition** Income is recognised once the charity has entitlement to the income, receipt is probable, and the amount can be measured reliably. - **Donations and legacies** are recognised when received unless subject to donor-imposed performance conditions, in which case they are deferred. - **Charitable activity income** and **trading income** are recognised as income when the service is provided. - **Investment income** is recognised on a receivable basis. There was no deferred income or income received in advance at the reporting date. 24 | Charity Registration Number 1165652 Report and Accounts 2024 **Notes to the Accounts for the year ended 31 December 2024** ## **THE ARC** ## **1.5 Expenditure Recognition** **Raising funds:** Fundraising and investment-related costs. **Charitable activities:** Costs incurred in delivering the charity’s objectives. All costs include irrecoverable VAT as the charity is not VAT registered. ## **1.6 Support Costs and Cost Allocation** Support and governance costs are allocated to charitable activities using reasonable bases: **Staffing costs –** based on time spent or headcount **Premises costs –** **Other support costs –** The trustees apply judgement in choosing appropriate cost allocation methods. ## **1.7** ## **Tangible Fixed Assets** Fixed assets are capitalised if the cost exceeds **£500** , including irrecoverable VAT. Expenditure below this threshold is treated as revenue expenditure. Assets are recognised at cost or valuation and include all directly attributable costs. Fixed assets are depreciated on a straight-line basis from the month of acquisition: |**Asset Category**|**Asset Category**|**Useful Life**| |---|---|---| |Freehold Property|Not depreciated|N/A – reviewed annually| |Leasehold Improvements|Straight line|Over term of lease| |Fixtures & Fittings|Straight line|4 years| |Equipment|Straight line|4 years| |Investment Property|Not depreciated|Revalued if applicable| |Construction WIP|Not depreciated|Reclassifed on completion| Freehold properties are not depreciated due to their long useful lives and maintained condition; however, they are reviewed annually for impairment or revaluation. ## **1.8** ## **Construction Work in Progress** Renovation or building work is held as **Construction in Progress** until the asset is ready for intended use. It is then reclassified to the appropriate category and depreciated as applicable. ## **1.9** ## **Disposals** Disposals must be authorised by a trustee. Gains or losses on disposal are recognised in the SOFA. The asset register is updated to reflect the disposal and any proceeds received. ## **1.10 Investments** Investments are measured at fair value. Gains and losses arising from changes in market value are recognised in the SOFA under “Other recognised gains and losses.” 25 | Charity Registration Number 1165652 Report and Accounts 2024 **Notes to the Accounts for the year ended 31 December 2024** ## **THE ARC** ## **1.11** ## **Debtors** Debtors are recognised when the charity has an entitlement to the income or service, the amount can be measured reliably, and receipt is probable. Debtors are stated at the amount expected to be recovered, net of any provisions for doubtful debts. This includes accrued income where income has been earned but not yet invoiced or received. ## **1.12** ## **Prepayments** Prepayments are amounts paid in advance for goods or services which will be consumed or received in future periods. They are recognised as current assets at the amount prepaid and charged to expenditure in the period to which they relate. ## **1.13 Creditors** Creditors are recognised when the charity has a present obligation arising from a past event that is expected to result in the outflow of economic benefits. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the obligation or transfer to a third party. This includes accruals for unpaid invoices and liabilities incurred but not yet invoiced at the reporting date. ## **1.14 Income Received in Advance** Income received in advance of the provision of goods or services is deferred until the charity is entitled to recognise it as income under the accruals basis. This applies, for example, to income relating to events, lettings, or service delivery that spans reporting periods. ## **1.15 Leases** Finance leases are capitalised and depreciated over the shorter of the lease term or the asset’s useful life. Rentals under operating leases are charged on a straight-line basis. ## **1.16 Pensions** The charity operates a defined contribution scheme. Contributions are charged to the SOFA as they become payable. ## **1.17 Use of Estimates and Judgements** Significant estimates and judgements include: Useful economic lives of tangible fixed assets Valuation of freehold property Allocation of support costs The trustees assess for impairment annually. No impairment losses were recognised during the year. 26 | Charity Registration Number 1165652 Report and Accounts 2024 **Notes to the Accounts for the year ended 31 December 2024** ## **THE ARC** ## **2. Income from Donations and Legacies** |**3. Income from Charitable Activities**
**4. Income from Investments**
**Unrestricted**
**Unrestricted**
**funds**
**Unrestricted**
**funds**
Gift Aid Claimed
Revenue grants and donations from
non public bodies
Bible College Income
Tuckshop
Hall & Other Rentals
Rental Property Income
Congregational Giving
Ministry Income
Events Income
139,500
-
6,687
713
34,815
36,000
1,134,208
3,931
24,522
**1,273,708**
**70,668**
**36,000**
**£**
**£**
**£**|**Restricted**
**Restricted**
**funds**
**Restricted**
**funds**
**33,780**
**-**
**-**
-
-
-
-
-
-
33,780
-
-
**£**
**£**
**£**|**£**
**£**
**£**
**Total 2024**
**Total 2024**
**funds**
**Total 2024**
**funds**
139,500
-
6,687
713
34,815
36,000
1,167,988
3,931
24,522
**1,307,489**
**70,668**
**36,000**|**Total 2023**
**2 41,120**
**3,000**
**1 ,244,931**
**£**| |---|---|---|---| ||||**1,489,051**| ||||**Total 2023**
**funds**
**18,055**
**-**
29,038
**5,510**
**17,043**
**£**| ||||**69,646**| ||||**Total 2023**
**funds**
**32,460**
**£**| ||||**32,460**| ## **5. Expenditure on Charitable Activities** |Bible College
Events (Non Sunday Service)
Mission Costs
Service Running Costs
Internal Ministries
Pastoral Hospitality|**Unrestricted**
**Directly**
**Attributable**
26,673
160,641
32,268
327,757
67,704
192,514
**807,557**|**Support**
-
93,040
6,834
211,911
34,065
57,063
**402,914**|**Restricted**
**Directly**
**Attributable**
**10,039**
-
-
6,954
-
-
3,085|**Support**
1,837
5,511
918
918
**9,184**|**Total**
**2024**
**funds**
26,673
255.518
46,056
545,179
102,688
253,580
**1,229,694**|**Total**
**2023**
**funds**
**33,105**
**273,684**
**36,827**
**586.639**
**166,684**
**278,302**| |---|---|---|---|---|---|---| |||||||**1,375,241**| Support costs are allocated to activities on the basis described in the accounting policies (e.g. time spent, space usage). 27 | Charity Registration Number 1165652 Report and Accounts 2024 **Notes to the Accounts for the year ended 31 December 2024** ## **THE ARC** ## **6. Support Costs** |Bank fees and charges
Contract staf
Information and publications
Lease rental
Loan Interest
Printing, postage, stationary
Proft/Loss on disposal
Property insurance
Rent, Rates and Water
Repairs, renewals and maintenance
Sotware licences and website expenses
Staf travel and subsistence
Subscriptions
Sundry expenses
Telephone, fax and internet
Accountancy
Volunteer Expenses
Audit Fees
Volunteer Training
Professional Fees
**Governance Costs**
Equipment expensed
Cleaning and waste management
Depreciation and amortisation|**2024**
**£**
15,958
22,731
1,059
6,875
3,647
13,229
40,560
820
80,261
5,363
15,653
45
8,160
55,947
38,607
117
4,954
15,083
917
35,200
**331,068**
**83,920**
**414,988**
3,644
8,326
37,835|4,114
6,191
9,978
9,525
1,246
55,045
18,314
35,333
352
38,380
45,556
134
3,979
10,354
11,076
12,683
15,108
5,773
4,028
23,326
**2023**
**£**| |---|---|---| |||36,880
8,160
25,197
**310,495**| |||**70,237**| |||**380,732**| 28 | Charity Registration Number 1165652 Report and Accounts 2024 **Notes to the Accounts for the year ended 31 December 2024** ## **THE ARC** ## |**7. Staf Costs**||| |---|---|---| |Wages and salaries
Pension contributions
Social security costs|**2024**
**£**
343,489
5,084
**379,007**
30,434|383,909
5,493
36,018
**2023**
**£**| |||**425,420**| The average monthly number of employees during the year was 14 (2023: 15) No employees received remuneration exceeding £60,000 (2023: 1). The charity considers its key management personnel to be the trustees and the Senior Pastor. Total remuneration paid to key management personnel in the year was £53,550 (2023: £70,246) ## **8. Trustee Remuneration and Expenses** During the year, no trustees were reimbursed for expenses incurred in their capacity as trustees (2023: none). The charity paid £70 (2023: £238) directly to third parties in respect of trustee meetings and hospitality. One trustee is also a paid employee of the charity. Any expenses incurred in relation to their employment (e.g. travel or accommodation) were paid directly to third parties or reimbursed as part of their employment and are not included in this disclosure. ## **9. Auditor’s Remuneration** |Audit of the fnancial statements
Other services|**2024**
**£**
6,800
6,800|6,800
2,400
**2023**
**£**| |---|---|---| |||9,200| The above fees are exclusive of irrecoverable VAT. 29 | Charity Registration Number 1165652 Report and Accounts 2024 **Notes to the Accounts for the year ended 31 December 2024** ## **THE ARC** ## **10. Tangible Fixed Assets** |Additions
Charged for the year
Disposals
At 31 December 2024
At 1 January 2024
At 31 December 2024
At 1 January 2024
At 1 January 2024
**Cost**
**Depreciation**
Revaluations
On Disposals
**Net Book Value**
At 31 December 2024|**Freehold**
**Land and**
**Buildings**
742,191
-
-
1,680,000
1,680,000
-
240,000
-
**2,662,191**
**-**
**1,920,000**|**Construc-**
**tion in**
**Progress**
198,357
-
-
-
-
-
-
-
**198,357**
**-**
**940,548**|**Leasehold**
**Improve-**
**ments**
**175,373**
**33,490**
**141,883**
10,467
17,200
-
147,705
164,906
-
-
16,290|**Fixtures**
**&**
**Fittings**
-
29,350
143,582
-
5,974
114,233
**149,556**
**122,582**
**26,974**
-
8,349|**Equipment**
17,725
112,303
-
25,314
137,618
-
-
17,069
**155,343**
**129,373**
**25,970**|**Total TFA**
**9 74,714**
**-**
**2 ,126,106**
**2 40,000**| |---|---|---|---|---|---|---| |||||||**3,340,819**| |||||||**243,736**
**-**
**41,709**| |||||||**285,445**| |||||||**1,882,369**| |||||||**3,055,375**| The freehold property was professionally revalued by Strettons Chartered Surveyors on 3 September 2024. The revaluation resulted in an upward adjustment of £240,000. The valuation was performed in accordance with the RICS Valuation – Global Standards (Red Book). The church’s policy is not to depreciate freehold property as the expected residual value is not materially different from carrying value, and the building is maintained in a condition of continual repair. Construction in progress relates to refurbishment and development works not yet brought into use at year-end. These will be transferred to operational fixed assets when completed. Leasehold improvements are depreciated over the term of the lease. Other tangible fixed assets are depreciated over their useful lives as outlined in the accounting policies. 30 | Charity Registration Number 1165652 Report and Accounts 2024 ## **THE ARC** ## **Notes to the Accounts for the year ended 31 December 2024** ## **11. Investment Property** |Additions
Charged for the year
Disposals
At 31 December 2024
At 1 January 2024
At 31 December 2024
At 1 January 2024
At 1 January 2024
**Cost**
**Depreciation**
Revaluations
On Disposals
**Net Book Value**
At 31 December 2024|-
**637,394**
-
**637,394**
**-**
-
-
637,394
-
**Investment**
**Property**
**£**
637,394
-
-|-
637,394
-
-
**Total**
**Investments**
**£**| |---|---|---| |||**637,394**| |||-
-
-
-| |||**-**| |||637,394| |||**637,394**| The charity holds one residential investment property to generate rental income and for long-term capital appreciation. The property was acquired on 31 January 2020 and is held at historical cost of £637,394. The property has not been formally revalued since acquisition. The trustees have carried out an impairment review by comparing the property to similar listings in the area and have concluded that the value remains appropriate. No depreciation is charged on investment property. Rental income of £36,000 (2023: £32,460) was received during the year. ## **12. Debtors** |Trade debtors
Prepayments and accrued income
Other debtors|**2024**
**£**
4,761
295
5,131
**10,187**|3,036
-
11,512
**2023**
**£**| |---|---|---| |||**14,548**| 31 | Charity Registration Number 1165652 Report and Accounts 2024 **Notes to the Accounts for the year ended 31 December 2024** ## **THE ARC** ## **13. Cash at Bank and in Hand** |Bank current accounts
Prepaid staf expense cards
**14. Creditors: amount falling due within one year**
**15. Creditors: amount falling due after one year**
Bank loans and overdrafts
Bank loans and overdrafts
Trade creditors
Social Security and other taxes
Accruals
Other creditors|**2024**
**£**
283,444
6,084
**289,528**
**2024**
**2024**
**£**
**£**
126,148
786,572
19,481
47,104
39,664
3,662
**236,060**
**786,572**|684,230
9,277
**2023**
**£**| |---|---|---| |||**693,507**| |||78,656
36,882
42,039
11,040
622
**2023**
**£**| |||**169,239**| |||514,600
**2023**
**£**| |||**514,600**| ## **16. Bank Loans and Security** At 31 December 2024, the charity had four outstanding loans totalling £912,720 (2023: £593,256), of which £126,148 is due within one year and £786,572 after more than one year. The loans consist of: A mortgage secured against the charity’s investment property (residential house) A mortgage and two development loans secured against the charity’s main premises, including freehold property and ongoing construction works at Sydenham Monthly repayments range between approximately £2,375 and £3,637 per loan. Interest is charged at commercial rates in line with market lending conditions. The loans are repayable over standard terms and are being serviced in accordance with their agreed schedules. The trustees are satisfied that the value of the underlying secured properties is in excess of the outstanding balances, and that the charity is not exposed to undue liquidity risk. 32 | Charity Registration Number 1165652 Report and Accounts 2024 **Notes to the Accounts for the year ended 31 December 2024** ## **THE ARC** ## **17. Related Party Transactions** During the year, the following related party transactions occurred: The charity paid £37,286 (2023: £20,220) to GPI Ltd, a company owned by one of the trustees. GPI Ltd provides property sourcing and project management services in connection with the construction and renovation of properties owned or leased by the charity. All transactions were carried out at arm’s length. The trustee had no involvement in the selection, approval, or payment processes relating to these services. The arrangement was recorded in the charity’s register of interests and managed in line with the charity’s conflict of interest policy. Four employees of the charity were related to trustees and received total remuneration of £76,192 during the year (2023: £58,305 for three employees). Of this, £52,192 related to three employees connected to one trustee and £24,000 related to one employee connected to a second trustee. All were employed on standard terms and conditions and none held trustee positions. One trustee is also a paid employee of the charity. Their salary and expenses are disclosed in Note 9. No payments were made to them in their capacity as a trustee. All related party relationships were declared in accordance with the charity’s governing documents and conflict of interest policy. Where applicable, trustees withdrew from discussions and decisions in which they had a personal interest. 33 | Charity Registration Number 1165652 Report and Accounts 2024 **Notes to the Accounts for the year ended 31 December 2024** ## **THE ARC** ## **18. Movements in Funds** |**18. Movements in Funds**|||||||| |---|---|---|---|---|---|---|---| |**(a) Fund Movements During the Year**|||||||| |**Restricted Funds**|**B/fwd**|**Income**|**Expenditure**|||**Transfers**|**C/fwd**| |Building Fund (Thurrock||37||||26,634|**26,671**| |Building Fund (Sydenham/South)||6,912|||(6,912)||**-**| |Building Fund (2.0)|50|1,351|||(1,401)||**-**| |Building Fund (Dagenham)||4,070||||5,057|**9,127**| |Building Fund (Forest Gate)||870|||(870)||**-**| |Building Fund (Global)||10,500|||||**10,500**| |Mission Fund||6,954|||(6,954)||**-**| |Welfare Fund||3,085|||(3,085)||**-**| ||**50**|**33,780**|||**(19,223)**|**31,691**|**46,298**| |**Designated Funds**|**B/fwd**|**Income**|**Expenditure**|||**Transfers**|**C/fwd**| |Land and Buildings - 66a Sebert Road||||||1,781,023|**1,781,023**| |Land and Buildings - Anerley Road||||||-|**-**| |Equipment||||||25,970|**25,970**| |Fixtures & Fittings||||||26,974|**26,974**| |Investment Property||||||208,877|**208,877**| |Construction in Progress||||||595,322|**595,322**| |||||||**2,638,166**|**2,638,166**| |**Unrestricted Funds**|**B/fwd**|**Income**|**Expenditure**|||**Transfers**|**C/fwd**| |General (Revenue)|1,641,461|1,380,377|||(1,210,472)|(1,525,853)|**285,513**| |Revaluation Reserve|904,004|240,000||||(1,144,004)|**-**| ||**2,545,465**|**1,620,377**||**(1,210,472)**||**(2,669,857)**|**285,513**| ||||||||| ||**2,545,515**|**1,654,157**||**(1,229,694)**||**0**|**2,969,977**| |**(b) Fund Transfer Reconciliation**|Designated|Fixed Asset Reserve|||||| |||**Unrestricted**|||**Restricted**||**Designated**| |Thurrock building fund misclassifed||(26,634)|||26,634||| |Dagenham building fund misclassifed||(5,057)|||5,057||| |Transfer of revaluation reserve||(1,144,004)|||||**1,144,004**| |Transfer of NBV of fxed assets to designated||(1,533,268)|||||**1,533,268**| |||**(2,708,963)**|||**31,691**||**2,677,272**| 34 | Charity Registration Number 1165652 Report and Accounts 2024 ## **THE ARC** ## **Notes to the Accounts for the year ended 31 December 2024** ## **Description of Funds** ## **Restricted Funds** **Building Funds –** Amounts donated for the acquisition, development, or renovation of named church buildings and properties. These are held until spent on the relevant project. **Mission Fund –** Donations received to support local and overseas mission and outreach initiatives. **Welfare Fund –** Donations designated for meeting urgent practical or pastoral needs within the community or congregation. ## **Designated Funds** Designated funds represent unrestricted income set aside by the trustees for specific purposes. In this case, they include: **Fixed Asset Reserve –** Reflects the net book value of land, buildings, fixtures, equipment, and construction in progress that are not available for general expenditure. **Property Revaluation Reserve –** Holds unrealised gains arising from the revaluation of freehold property. This balance was transferred to the designated fund during the year to align with the tangible asset it represents. ## **Unrestricted Funds** These are available for use at the discretion of the trustees to support the general objectives and operational activity of the charity. The **General Fund** is the primary unrestricted reserve from which day-to-day ministry, payroll, and operational expenses are funded. 35 | Charity Registration Number 1165652