THE MArrHEW MINISTRY REPORT AND ACCOUNTS YEAR ENDED 31 DECEMBER 2024 THE MATTHEW MINISTRY, CAMBRIDGE Charity Incorporated Organisation Charity number: 1166819 Accounts- 31st December 2024 INDEX Report of the Trustees and General Information Independent Examiner's Report to the Trustees statement of Financial Activities Balance Sheet Notes to the Accounts ## **THE MATTHEW MINISTRY** **REPORT OF THE TRUSTEES for the year ended 31st December 2024** ## Charity Registration Number: 1166819 Principal Address: 65 Gough Way, Cambridge, CB3 9LN Bankers: CAF Bank Limited, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ ## Independent Examiner: Peter Connor (ACA) The trustees are pleased to present their annual report and financial statements for The Matthew Ministry for the year ended 31 December 2024. ## TRUSTEES The Trustees who served during the year and since the year end were as follows: Mr Robin Lea Dr Simon Wadsley Guy John Campfield Dingley - Chair Mrs Helen Lamb (resigned 4 April 2024) Mrs Katie Pawlett (resigned 4 April 2024) Philippa Cousins (appointed 23 February 2025) ## OBJECTIVES AND ACTIVITIES To promote and advance the Christian faith in accordance with the statement of faith set out in the schedule appended to the charity's constitution, primarily (but not exclusively) in and around the city of Cambridge. ## The Matthew Ministry was formed on 8 March 2016. During 2024 the charity maintained its property at 9 Victoria Street. It was let to church staff which enabled ministry in an appropriate location and facility. The charity continued to house workers engaged in promoting and advancing the Christian faith in the city. The Trustees have considered the Charity Commission's guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. ## PERFORMANCE Incoming resources for the year were £100,917 (2023 - £76,311), while net resources were £45,892 (2023 - £44,819). The trustees are grateful for donations of £73,974 during the year from planned giving, annual gift days and other donations. The charity is seeking to build up cash resources to purchase a second residential property in Cambridge. Cash resources grew from £94,273 in 2023 to £148,271 in the current year. The charity incurred £24,376 (2023 - £921) on property maintenance. ## STRUCTURE, GOVERNANCE AND MANAGEMENT The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard 102. The charity is governed by its founding constitution dated 8 March 2016 and operates as a charitable incorporated organisation (CIO). Apart from the first charity trustees, the trustees are appointed or re-appointed, for a term of three years by a resolution of the trustees. No funds are held as custodian trustee on behalf of others. There are no Restricted Funds held in the charity. Approved by the trustees on 22 October 2025 signed on its behalf. Robin Lea, Treasurer 1 THE MATTHEW MINISTRY- CHARITY NO. 1166819 Independent examiner's report to the trustees of The Matthew Ministry I report to the trustees on my examination of the accounts of the above charity for the year ended 31 December 2024. A5 the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111"the Act"). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying Out my examination, I have followed all the applicable Directions given by the Charity Commi55ion under section 14515llbl of the Act. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: the accounting records were not kept in accordance with section 130 of the Charities Act; or the accounts did not accord with the accounting records; or the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities {Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a'true and fair, view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed.. Date: zi dCr•/4rt Name: Peter Connor IACAI Address: 3 Middlemoor Road, Whittlesford CB22 4PB THE MATTHEW MINISTRY- CHARITY NO. 1166819 Statement of Financial Activities for the year ended 31 December 2024 Note Dec-24 Dec-23 Unrestricted Funds Unrestricted Funds Incoming resources Donations Charitable activities Investment income Total incoming resources 91,116 26.004 939 118,059 33,004 26,004 161 59,169 Resources expended Charitable activities Total resources expended 55,025 55,025 31,492 31,492 Net incomingl(outgoing) resources 63,034 27,677 Total funds brought forward 315,171 287,494 Total funds carried forward 378,205 315,171 The Matthew Ministry Charity Number '. 1166819 THE MATTHEW MINISTRY - CHARITY NO. 1166819 BALANCE SHEET as at 31st December 2024 Note Dec-24 Dec-23 Fixed assets Tangible assets 801,677 803,291 Current assets Cash at bank and in hand Other debtors 148,271 94.273 148,271 94,273 Liabilities Creditors.. amounts falling due within one year (10,650) (8,856) Net Current Assets 137,621 85,417 Total assets less current liabilities 939,298 888,708 Creditors: amounts falling due after more than one year 10 (561,093) (573,537) Total net assets 378.205 315,171 Funds of the Charity Unrestricted funds 378,205 315,171 Total unrestricted funds 378,205 315,171 Signed by RA Lea on behalf of all the trustees The notes on pages 7 to 9 form part of these financial statements Signed Date: Tr aCrvts￿ &2 S- The Matthew Ministry Charity Number '. 1166819 THE MATTHEW MINISTRY. CHARITY NO. 1166819 NOTES TO ACCOUNTS for the year end8d 31st December 2024 Accountlng Pollcles The principal accounting policies adopted, judgrnenls and key sources of estimation uncertalnly in the prepaialion of the flnancial slalemenls are 85 follows.. al Basls of praparatlon The accounts Ifinanaal statements) have been prepared under Ihe hlstorical cost oonvention wilh Items recognised al cost 01 Iransacllon value unle55 otherwise stated in Ihe relevant notelsl to these accounls. The finanoial stalemenls have been prepared in accordance with the second edition of the Charities Statement of Recomrnonded practi￿ issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republio of Ireland IFRS 10218nd the Gharilies Act 2011. Golno Concern The Iruslees conslder that Ihere are no malerlal uncertanlies about the Trust's ability to conllnue as a going concern. bl Income recognition pollcles Items ol income ale recognlsed and included in the accounls when all of th& followng criteria are mel.. i The charily has enlillement to the funds., any performance conditions attached lo the Ilems of income have been met or are fully wilhln the control of the Charlly., there is 8ufficlent certainty that receipt of the income is considered probable., and thè amount can be measured reliably. Cash donations are recognised on recelpl. Income tax recoverable in relalion of donations received under Gitt Aid or deeds of ￿Veftant is recognised al the tlme of the donation. cl Change In basls of accountlng No changes have been made to accounts for previous years ex￿p1 modifications lo presentation requ1￿d by the adoption of SORP 2019. dl Donated S8rvlces and Facilitlg$ In accordance wlth the Charities SORP IFRS 102} the general Ilme of volunteers is not ￿CogniSed in the accounts. el Fund Aceountln Unieslricled funds are available lo spend on aclivilies that further any of the purposes of the Charity. f) Tanolblè Flxed Assets Tanglble fixed assels acquired for use by Ihe charity arè Inlllally measured al ¢osl and subsequently measured at cost or valLJalion. net of depiecialion and any impai1rn8nl losses. Depreciation is recognised so as lo wrlte off the cost or valuatSon of assets less Ihèlr residual values over Ihelr useful lives on the following bases.. Freehold land and buildlngs - nol depreciated Equipment. 25QA on a slraighl line basis Fixtures and fittings- 20°k on a straight line basis I Cash at Bank and In Hand Cash 81 bank includes cash held In current accounts. h) Key ludllements 1. Key estimate.. Charitable donations I ne trustees maKe estimaies an(J assumpiions regar(J1ng the iuiure. I ne casn iiow proieciions Inciuoe assumptions aDOUI continued donations, the key one being that iegular giving and ienlal income will not change signSficantly from historical levels. 2. Key eslimale.. Resbdual value of property The Iruslees believe the property held for charitable purposes has a high residu81 value which removes the need for depredatlon to be charged. 3. Pioportv Purchase costs Property purchase costs have been expensed in the year as Ihe Trustees believe they add no lasting value lo the asset and that the property was valued excluding costs. The Matthew Minsitry Charity Number '. 1166819 THE MATTHEW MINISTRY- CHARITY NO. 1166819 NOTES TO ACCOUNTS Iconl.) for the year •nded 31st December 2024 Legal Status of the Charlty The CIO was established as 8 registered charlty on the 8th March 2016 undèr registered charily number 1166819. It was established 10 5UPPOrt, promote and advance the Christian faith, primarily Ibul not exclusively) in and around the City of Cambridge, Ihrough provision of premises and making grants. Income from Donatlons 2024 2023 Annual gift day Regular giving Other donations GiftAld 52,374 14.400 7.200 17,142 91,116 2.344 12,650 18,010 33,004 All glfts and donations are unresliicled funds. Income from charltablfr aetlvities 2024 2023 Rental property income 26,004 26.004 Charltab18 activlties 2024 2023 Direct pmperty costs Interest costs Administrativfy expenses Depreciation 24,376 28,832 203 1.614 55,025 921 28,897 60 1.614 31.492 staff and Trustees The Tiust has employed no members of staff during the year12023.' nlll. The adminislralive dulles and accounting have been undertaken by the Trustees. No remuneration was paid lo any trustee during the year nor lo any person connected to them. Tanglb18 Fixed Assets Freehold Equipment Flxtures land and and hiiilrlinij littinnA Total Cost Al 1 January 2024 Additions Al 31 De￿mber 2024 800.000 5,680 972 806,652 800.000 972 806 652 Depreclation At 1 January 2024 Depreciation charge for year Balance carried forward 2,876 1,420 4.296 485 194 679 3,361 1,614 4.975 N81 book value Brouoht foTward Carried forward 800 000 800.000 2.804 1,384 487 293 803,291 801,677 No fixed assets have been revalued in the year. The freehold land and buildings relate lo a resldenli81 property in Cambridge. The charities SORP acknowledges that some assets may have a high residual value whlch will remove the need for depreciation to be Gharged. The trustees are of the opinion that Cambridgeshire has a buoyant property market and th31 the residential property in cenlial Cambridge will have rnainlained its value since acquisition dale. The Iiuslees antiapata Ihat no deprecialion will be charged in future. The Matthew Minsitry Charity Number '. 1166819 THE MATTHEW MINISTRY- CHARITY NO. 1166819 NOTES TO ACCOUNTS Icont.) for the year ended 318t December 2024 Debtors 2024 2023 Other debtors Crèdltors.. amounts falllng due wlthln one year 2024 2023 Bank loans Inole 91 10,650 8,856 10 Credltors: amounts falllng du8 after more than one year 2024 2023 Bank loans Other loan5 491,093 70.000 561.093 503.537 70,000 573,537 On 13 September 2022 the charlty entered Into a 25 year interest and capital bearing mortgage108n with Klngdom Bank, with a principal value of £525,000. The mortgage is secured on the freehold property as shown in note 7. During the year interest was payable al a variable rate. On 31 December 2024 the interest rale oll the mortgage was 5.55°k12023'. 5.80%). The total amount oulslanding lo Kingdom Bank al 31 December 2024 was £501,74312023.. £512,393). Other loans aig unseoured and non interest bearing. They are lent to the charity for a fixed leitH five year peiiod expiring on g August 2027. The Matthew Minsitry Charity Number '. 1166819