## Windsor Fellowship Trust Report and Accounts Year ended 30 September 2024 1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk ## **WINDSOR FELLOWSHIP TRUST** ## **LEGAL & ADMINISTRATIVE DETAILS** ## **FOR THE YEAR ENDED 30 SEPTEMBER 2024** ADDRESS FOR CORRESPONDENCE Christ Church URC 12 William Street WINDSOR SL4 1BA WORKING NAME Grace Church Windsor GOVERNING DOCUMENT Constitution dated 31 March 2016 CHARITY REGISTRATION NUMBER 1166996 TRUSTEES RESPONSIBLE FOR Rev P. Bickersteth (resigned 8 November 2023) MANAGING THE CHARITY Rev. S. Brewster Mrs A. Felce Rev. J Burgess (appointed 14 March 2024) Mr E. Mishambi (resigned 24 October 2024) Mr Grant Thomas (resigned 17 January 2025) Mrs Sarah Windsor (resigned 19 January 2025) BANKERS Metro Bank PLC INDEPENDENT EXAMINER Sarah Crispin ACA Stewardship 1 Lamb's Passage LONDON EC1Y 8AB ## **INDEX** Page 1 Legal & Administrative Details Pages 2-3 Report of the Trustees Page 4 Independent Examiner's Report Page 5 Receipts and Payments Account Page 6g Statement of Assets and Liabilities Page 7 Notes to the Accounts 1 ## **WINDSOR FELLOWSHIP TRUST** ## **REPORT OF THE TRUSTEES** ## **FOR THE YEAR ENDED 30 SEPTEMBER 2024** The Trustees have pleasure in submitting the Report and Accounts for the year ended 30 September 2024. ## **Objects of the charity** The purpose of the charity is the advancement of the Christian faith in accordance with the Basis of Faith with such other charitable purposes, as shall facilitate the work of the Fellowship. ## **Summary of the charity's main activities and achievements** There is much to be thankful to God for over the last year, not least the shared worship, growth and fellowship amongst our church community. We have seen a number of new people join us, from an increasing diversity of backgrounds, with church members involved in committed service across the life of the church. We were delighted to baptise two adults and one infant as a mark of their new life in Christ. Achievements this year include the launching of our new name, Grace Church Windsor, to reflect our status as an established church in the town. We also made the significant step of joining the Anglican Mission in England (AMIE), an alignment which has already proven a great help to us as we pursue our objectives. We hosted our new Bishop Tim Davies for a celebration service, two of our leaders attended the AMiE annual conference, our minister has benefited from monthly ‘strengthening meetings’ with other ministers, and he also represented the church at the annual Synod meeting. We further developed our leadership structures with the launch of a ministry development team in May, consisting of eight members of the church. Other highlights of the year included a third annual weekend away, the launch of a new membership roll, and a new midweek pattern which includes monthly prayer & praise evenings and men and women’s gatherings to complement our fortnightly home groups. Alongside this, we remain thankful for the encouragement and edification that comes from the weekly preaching of the Bible, and administration of the sacraments. We launched a third Sunday children’s group in response to the growing number attending. Our part-time Minister-in-Training is now well established and has contributed to ministry across church life, including preaching, discipleship, children’s work and music ministry, and we were glad to extend his time with us for a third year after a request for funds was met with generosity from the church family. We continue to seek to serve the people of Windsor and to make known the good news of the Lord Jesus in the town. Amongst other things, we hosted guest services at the major festivals, with a follow-up seeker course, and held a guest service with Rico Tice on the theme of ‘Success’. Busbees, our weekly group parent and toddler group, has continued to serve local families. In the summer term we started a new after-school Kids’ Club for first school age children which has been well received. Our minister has continued to minister in two different schools, including helping establish a secondary school chaplaincy. We remain very conscious of the army barracks which are so close to us and continue to seek to foster relationships there. Whilst Windsor has much prosperity, we are aware there are also many in great need and we want to love them spiritually and practically. As a church, we have continued to support the work of Windsor Christian Action and made monthly collections for the Foodshare. We continue to enjoy use of the Christ Church URC building in Windsor town centre, increasingly during the week as well as on Sunday afternoons. We have continued to offer support to their congregation during their long interregnum, with joint services at major festivals, and our minister leading a daytime bible study group, offering pastoral support (including funeral ministry), and preaching at occasional Sunday morning services. We count it a privilege to support other mission and prayer partners, who are serving variously with London City Mission, in North Africa, and at theological college. We have also been glad to give ongoing support to Royal Holloway Christian Union. In planning the activities the Trustees have applied the guidance on public benefit issued by the Charity Commission. 2 ## **WINDSOR FELLOWSHIP TRUST** ## **REPORT OF THE TRUSTEES** ## **FOR THE YEAR ENDED 30 SEPTEMBER 2024** ## **Financial review** During the year total receipts were £154,734 (2023: £119,094). Total payments were £137,449 (2023: £132,895). At year end unrestricted cash reserves were £75,462 (2023: £58,177). In the first quarter of 2025 there has been a reduction in the monthly income to the charity, which, if it continues, will result in the trustees needing to make some difficult decisions about our expenditures. We are closely monitoring the situation and will respond to developments in a timely manner. ## **Reserves policy** The Trustees aim to maintain free reserves in unrestricted funds at a level which equates to approximately three months’ unrestricted charitable expenditure. The Trustees consider that this level will provide sufficient funds to manage in the event of a sudden fall in income. The balance held as unrestricted funds at 30 September 2024 was £75,462; budgeted 3 months’ cash payments are approximately £33,000. The Trustees consider that this level of reserves is appropriate as the Church grows and develops plans for future activities, and is in line with the Reserves Policy that they have adopted. ## **Structure and Management** The Trustees (who are also the members of the CIO) are aware of the objectives and activities of the Church. All Trustees seek to keep abreast of relevant legislation and good practice. On appointment Trustees are given copies of the Annual Report and accounts, the Constitution, and all the Church’s policy documents. The Trustees make all policy decisions. Day to day decisions are made by the Senior Minister with the support of the Elders, but only within the boundaries defined by the Trustees. ## **Responsibilities of trustees** Charity law requires us as Trustees to prepare financial statements for each accounting year which record the receipts and payments of the charity for the year. We are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable us to ensure that the financial statements comply with the Charities Act 2011. We also have a responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities. ## **Approval** This report was approved by the trustees and signed on their behalf by: ## Sam Brewster Sam Brewster (Apr 16, 2025 21:48 GMT+1) ……………………………………………………….. Rev. S. Brewster Apr 16, 2025 Date:_______________________ 3 ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF** ## **WINDSOR FELLOWSHIP TRUST** I report to the trustees on my examination of the accounts of Windsor Fellowship Trust (the charity) for the year ended 30 September 2024 on pages 5 to 7 following. ## **Responsibilities and basis of report** As the charity trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner’s statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records. 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. ## Sarah Crispin Sarah Crispin (Apr 17, 2025 13:55 GMT+1) Sarah Crispin ACA Stewardship 1 Lamb's Passage LONDON EC1Y 8AB Date: Apr 17, 2025 4 ## **WINDSOR FELLOWSHIP TRUST** ## **RECEIPTS AND PAYMENTS ACCOUNT** ## **FOR THE YEAR ENDED 30 SEPTEMBER 2024** |Notes
**Receipts**
Donations, legacies and grants
Gift aid receipts
Other grants
Other income
Events
Total receipts
**Payments**
Direct costs in furtherance of the charity's objectives
2
Loan repayments
7
Loan interest
7
Total payments
**Net receipts / (payments) before transfers**
Transfers between funds
**Net movement in funds**
Cash funds as at last year end
**Cash funds at this year end**|Unrestricted
funds
Restricted
funds
2024
Totals
2023
Totals
£
£
£
£
124,871
-
124,871
96,914
20,982
-
20,982
16,640
5,000
-
5,000
-| |---|---| ||150,853
-
150,853
113,554| ||501
-
501
440
3,380
-
3,380
5,101| ||154,734
-
154,734
119,094| ||92,098
-
92,098
89,656
8,333
-
8,333
12,105
37,017
-
37,017
31,134| ||137,449
-
137,449
132,895| ||17,285
-
17,285
(13,800)
-
-
-
-| ||17,285
-
17,285
(13,800)
58,177
-
58,177
71,977| ||75,462
-
75,462
58,177| The notes on page 7 form part of these accounts. 5 ## **WINDSOR FELLOWSHIP TRUST** ## **STATEMENT OF ASSETS AND LIABILITIES** ## **AT 30 SEPTEMBER 2024** |**1. Fixed assets**
The assets owned are:
Freehold building (Minister's house) at cost
Freehold building (Minister's house) improvements at cost
Equipment at cost less depreciation
**2. Cash funds**
Cash at bank with immediate access
**3. Other monetary assets**
Gift aid tax recovery not yet received
Other monetary assets
**4. Creditors and amounts payable**
Pension contributions payable
Rent of venues for Sunday meetings
Accrued loan interest payable
**5. Loan secured by mortgage on freehold building**
Repayable by instalments over the period to 24 February 2026 with interest at
5% p.a.
Unbilled fee for accounts preparation and independent examination|2024
2023
£
£
728,016
728,016
139,032
139,032
-
-| |---|---| ||867,048
867,048| ||£
£
75,462
58,177| ||75,462
58,177| ||£
£
678
690
615
-| ||1,293
690| ||1,320
1,140
704
735
-
150
605
510| ||2,629
2,535| ||| ||735,817
744,150| This loan to the charity has been made by a family relative of a Trustee. As there is potential for a technical conflict of interest in borrowing from a relative of a Trustee, Charity Commission advice was sought and the Charity Commission confirmed on 22 September 2017 that the arrangements were satisfactory. The charity has not given any guarantees. Other than the loan disclosed above, there are no outstanding debts at the date of the statement of assets and liabilities, which are owed and which are secured by an express charge on any of the assets of the charity. Except where indicated from the statement of receipts and payments or above, all the assets and liabilities are in respect of the charity’s unrestricted funds. The accounts were approved by the trustees and signed on their behalf |by|Date
--------------------------------
--------------------------
Rev. S. Brewster
Sam Brewster (Apr 16, 2025 21:48 GMT+1)
Sam Brewster
Apr 16, 2025| |---|---| The notes on page 7 form part of these accounts. 6 ## **WINDSOR FELLOWSHIP TRUST** ## **NOTES TO THE ACCOUNTS** ## **FOR THE YEAR ENDED 30 SEPTEMBER 2024** ## **1. Accounting policies** The accounts have been prepared on a receipts and payments basis and comprise a statement that shows the charity's receipts and payments, a statement that summarises the charity's assets and liabilities and related notes. The accountancy profession have determined that only accounts prepared in accordance with applicable accounting standards present a 'true and fair' view and, as these receipts and payments accounts have not (and cannot) be prepared in accordance with accounting standards, these accounts do not present (and are not intended to present) a 'true and fair' view of the charity's financial activities and state of affairs. General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects. |**2. Direct costs**
Employment costs (note 3)
Minister's expenses
Secretarial services
Property costs (note 4)
Church expenses
Events
Insurance
Marketing
Accounts preparation and examination
Mission support grants (note 5)
Anglican Mission in England subscription
Administration|General
Restricted
Total
Total
funds
funds
2024
2023
£
£
£
£
63,109
-
63,109
57,525
1,105
-
1,105
884
3,017
-
3,017
3,430
10,143
-
10,143
11,511
3,695
-
3,695
2,601
3,059
-
3,059
6,557
947
-
947
915
891
-
891
351
1,230
-
1,230
1,140
3,150
-
3,150
3,975
962
-
962
-
791
-
791
768| |---|---| ||92,098
-
92,098
89,656| ## **3. Employees and pensions** In 2024 the charity employed 2 full time employees (2023 2 full time employees). Until 29 February 2024, the Windsor Fellowship Trust participated in the Church of England Funded Pensions Scheme for stipendiary clergy, which is a defined benefit pension scheme. This scheme is administered by the Church of England Pensions Board, which holds the assets of the scheme separately from those of participating employers. An actuarial valuation of the scheme is carried out once every three years. The most recent valuation was carried out at as 31 December 2021 which revealed a surplus of £560m, based on assets of £2,720m and a funding target of £2,160m. As the scheme is in surplus, at the present time the Windsor Fellowship Trust does not have a liability for future deficit contributions. |**4. Property costs**
Rent of venues for Sunday meetings
Council tax and utilities for minister's house
Maintenance and improvement of minister's house
**5. Mission support grants**
SIM UK
London City Mission
4 grants each less than £250
**6. Movement of restricted funds**
Balance at
01/10/23
Receipts
Payments
£
£
No restricted funds
-
-
-|2024
2023
£
£
5,550
4,800
3,237
3,098
1,356
3,613| |---|---| ||10,143
11,511| ||2024
2023
£
£
-
2,750
3,000
-
150
1,225| ||3,150
3,975| ||Balance at
Transfers
30/09/24
£
£
-
-| ## **7. Transactions with related parties** Other than interest of £37,017 (2023: £31,134) and loan repayments of £8,333 (2023: £12,105) to a family member of a trustee, no amounts were paid to any trustee or to any person connected to them. 7