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← The Fellowship Of Independent Evangelical Churches

2024-08-31-accounts

Charity registration number 1168037 (England and Wales) Charity registration number SC047080 (Scotland)

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Ian Jones (Chair)
Greig Ferguson (Appointed 1 December 2023)
Jeremy Brooks (Appointed 1 December 2023)
Stephen Waud (Appointed 1 December 2023)
Ian MacMichael
Mike Hitchings
Peter Campbell
Colin Adams
John Russell
William James
Michael Kendall (Vice-Chair)
Rickey Raja (Appointed 1 December 2024)
Ravi Srinivasan (Appointed 1 December 2024)
Directors John Stevens National Director
Adrian Reynolds Head for National Ministry
Graham Beynon Head for Local Ministry
Andy Hunter Director for Scotland & North for England
Trevor Archer (resigned) Director for London
Johnny Prime Director for London
Daniel Grimwade Director for Yorkshire
Gareth Lewis Director for South Wales
Mark Howson Director for Suffolk
Paul Mallard Director for West Midlands
Elinor Magowan & Rachel Sloan Directors for Women's Ministry
Jonathan Bond Director for Smaller Churches
Ben Midgley Director for North Wales
Jon Samuel Director for Hampshire & Dorset
Simon Medcroft Director for Essex
Mark Howson Director for Suffolk
Phil Topham Executive Director
Hannah Hutchinson Chief Operating Officer
Charity number (England and 1168037
Wales)
Charity number (Scotland) SC047080
Principal address 41 The Point
Market Harborough
Leicestershire
LE16 7QU
Auditor Caladine Limited
Chantry House
22 Upperton Road
Eastbourne
East Sussex
BN21 1BF

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

LEGAL AND ADMINISTRATIVE INFORMATION

Bankers CAF Bank Ltd 25 Kings Hill West Malling Kent ME19 4JQ Solicitors Edward Connor Solicitors 10 The Point Market Harborough LE16 7QU Safeguarding advisors Christian Safeguarding Services 6 Marshalsea Road London SE1 1HL

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

CONTENTS

Page
Trustees' report 1 - 6
Statement of trustees' responsibilities 7
Independent auditor's report 8 - 10
Statement of financial activities 11
Statement of financial position 12
Statement of cash flows 13
Notes to the financial statements 14 - 31

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2024

The trustees present their annual report and financial statements for the year ended 31 August 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Constitution, the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

The objects of FIEC are to advance the evangelical Christian faith as expressed in the Doctrinal Basis of the Fellowship. These objects are furthered by:

The CIO charity objects are the same as the Legacy charity, with two clarifications. The ‘congregations of Christian believers’ are expressed in terms of ‘churches of Christian believers’. In addition, churches find their unity on the basis of the common adherence to the doctrinal basis ‘and the Ethos statements’.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Significant activities and achievements against objectives

FIEC’s Trustees approved a Strategic Plan in June 2021, and it is that plan which is reviewed and revised to ensure the charity is meeting its strategic objectives.

Our work is shaped by our desire – encapsulated in the Strategic Plan – to help churches. We have evaluated what a healthy independent church looks like, and have sought to support independent churches in this task.

At the heart of this plan is the split of our ministries into two areas of work: national ministries – by which we mean content and resources to churches on a national level – overseen by Adrian Reynolds as Head of National Ministry. Then local ministries – by which we mean the relational work between churches and leaders, and also the Pastors’ Network – overseen by Graham Beynon who began work on 1 September 2023.

National Director John Stevens focuses on national engagement on behalf of FIEC and its churches.

The staff team that offers administrative support to the ministries of FIEC and our affiliated churches is overseen by Executive Director Phil Topham, who is also the conduit between the Senior Leadership Team (SLT) of FIEC and the Trustees. Hannah Hutchinson is the Chief Operating Officer and part of SLT serving as deputy to the Executive Director and managing the operational responsibility of the office team focusing on events, finances and administration. This has enabled the Executive Director to spend more time engaging with churches to encourage affiliation to the charity.

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

The work of FIEC can be summarised as follows:

In 23/24 the priorities included:

Here are some of the achievements during the period:

1.Delivering our National Leaders’ Conference

We gathered once again in The Winter Gardens, Blackpool, with almost 1000 church leaders represented in one place. The November 2023 Conference took the theme “Ministry of Justice” and focused on the righteousness of God in a broken world. The conference is for leaders of all kinds in the local church with 20% of those attending being women.

2. Delivering 27 Local Conferences for leaders

The conferences during the period took the theme of our everyday ministry from the main Leaders’ Conference and considered “justice”. A key way FIEC helps its churches is by encouraging them to connect with one another. This meant that the Local Conferences encouraged churches in different geographical areas to consider this partnership. A number of local directors and ministry directors led the local conferences which were supported by the operational team in FIEC.

3. Hull & East Yorkshire Fund

We received £129k as a legacy in the previous financial year for use in East Yorkshire and The Humber. We gathered together churches and ministries in the area inviting them to apply for a portion of the funds. These funds were distributed to churches inside and outside the FIEC in line with the legacy during the period, in a process managed by our Director for Yorkshire, Daniel Grimwade and our COO Hannah Hutchinson.

4. Seeing new Churches join FIEC

25 churches were accepted into membership of FIEC in the period. They have joined us from a range of backgrounds. There was also the recognition of nine new church plants.

5. Delivering Conferences for Women in Ministry

Thrive and The Ministry Wives Retreat took place in April and May 2024. The former is aimed at women serving in pastoral ministry positions in churches. The latter is designed to support those married to men in ministry in FIEC churches. They equip women in ministry with Bible teaching, seminars and relational support.

6. Appointing Local Ministry Directors

Our Strategic Plan includes the vision to raise up Ministry Directors for different areas of the UK to serve our affiliated churches on the ground. During the period we appointed Local Directors for Hampshire & Dorset and North Wales – each serving one day a week. The Local Directors will serve FIEC by galvanising ministry and fostering good connections between churches in different localities.

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

Significant factors

Other developments and significant milestones during the period included:

Fundraising practices

Regulations require us to report each year on certain aspects of any fundraising by FIEC.

Financial review

Total income in all funds was £1,878k (£2,178k in 2023), made up of donations and grants from trusts. Most significant are the donations from churches as this is FIEC’s main source of fundraising. Affiliated church donations to unrestricted funds were £975K (£856K in 2023). Suggested donations are in line with the size of a church’s membership and in the period were increased by 10% as we struck a balance between the cost of living crisis and two years of 0% rises during the Covid-19 pandemic of 2020 and 2021.

Donations from individuals to unrestricted funds were £128k (£52k in 2023). We are grateful to all who contribute in this way. We did not receive any legacies in the period.

Total expenditure was £1,910k (£2,582k in 2023 and £1,330k in 2022). The increase in 2023 from 2022 was owing to the increased number of ministry areas and therefore expenses increased.

Reserves policy

FIEC aims to maintain free reserves (Unrestricted Funds less unrestricted fixed assets, debtors and stock) at a level sufficient to cover three months’ general expenditure, in order to give FIEC time to respond to unexpected developments. At the end of the period Available Unrestricted Funds were around six months’ general expenditure. A deficit budget was planned for 2023/24 which will reduce the level of the reserves further, as FIEC wants to invest in ministries, not hoard funds.

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

Major risks

The Trust Board examines the major risks facing the charity on at least an annual basis, with ongoing monitoring provided by the Senior Leadership Team. Where relevant, the Trust Board ensures there are action plans in place to mitigate the greatest risks to reduce their likelihood and potential impact.

Policies are in place for:

Numerous HR policies were also been revised in June 2024 including extended leave; holiday entitlement; maternity, paternity, shared leave and adoption; other leave; sickness absence and flexible working.

Structure, governance and management

FIEC was constituted in November 1922 as an unincorporated organisation and became a Charitable Incorporated Organisation (CIO) with the same name and with similar charitable purposes in 2017. The CIO was registered with the Charity Commission on 5th July 2016 with the name under reference 1168037.

By Resolution of the Trust Board on 26th September 2017 the name of the charity number 263354 was changed from The Fellowship of Independent Evangelical Churches to The FIEC (Legacy) Charity. This is retained as a ‘shell’ charity, with an amended Constitution, solely for the purpose of dealing with the transfer of any potential future legacies left to the ‘old’ charity, for the benefit of the CIO charity.

In Scotland, FIEC was registered with the Office of the Scottish Charity Regulator (OSCR) under reference SC040111. On 10th January 2017, OSCR registered the FIEC CIO under a new reference SC047080 and contemporaneously deleted the ‘old’ charity. This was done in consultation with OSCR and following their advice.

Until 31 August 2017, FIEC was an unincorporated association with a Constitution as its governing document. Both under the unincorporated organisation and the CIO Constitution (as corporate successor to the FIEC from 1 September 2017), a general meeting of FIEC is held each November. This meeting has full responsibility for the direction of FIEC. Each affiliated church is entitled to appoint delegates to the general meeting, where major policy questions are decided and thereafter remitted to the Trust Board for executive action.

The trustees of the charity are the twelve members of the Trust Board. Potential Trust Board members are nominated by affiliated churches with an election at the general meeting each November of church delegates. Elected members serve for a period of three years and are eligible for re-election. In the event of a vacancy arising the Trust Board may co-opt a replacement member to serve until the next general meeting. This option was exercised during the period

The Trust Board has considered the general guidance issued by the Charity Commission on public benefit and in particular, its supplementary guidance on the advancement of religion for the public benefit.

Affiliated churches are required to register with the Charity Commission where their income exceeds £100,000 per annum and / or where constituted as a Charitable Incorporated Organisation. Otherwise, churches are not currently able to make a new registration with the Charity Commission due to the Charities (Exception from Registration) Regulations 1996 which are currently set to continue to apply until 31st March 2031 through The Charities (Exception from Registration)(Amendment) Regulations 2014.

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

On accepting new churches into membership of FIEC, the Trust Board policy is for churches to have governing documents that are capable of being registered with the Charity Commission. If these are not currently in place, they are expected to work to rectify this within two years (24 months) of joining as an affiliated church.

Members are elected at FIEC’s general meeting each November and start their period of service from 1st December following. Trust Board Members who served as trustees during the period and up to the date of approval of this Report were:

Ian Jones (Chair) Greig Ferguson (Appointed 1 December 2023) Jeremy Brooks (Appointed 1 December 2023) Stephen Waud (Appointed 1 December 2023) Ian MacMichael Mike Hitchings Peter Campbell Colin Adams John Russell William James Michael Kendall (Vice-Chair) Spencer Shaw (Appointed 17 January 2024 and resigned 30 November 2024) Mark Lawrence (Resigned 25 September 2023) Timothy Diaper (Resigned 30 November 2023) Rickey Raja (Appointed 1 December 2024) Ravi Srinivasan (Appointed 1 December 2024)

Recruitment and appointment of trustees

At the general meeting in November 2023, Ian Jones and Michael Kendall were elected for a further three-year term.

New Trust Board members are informed of the Charity Commission guidance concerning the responsibilities of trustees and given an introductory presentation on the role of trustees. The Trust Board keeps under review the most appropriate means of ensuring regular, ongoing training for Trust Board members, including making training a part of their termly gatherings.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

Organisational structure

The Trust Board is responsible for the governance and policy for FIEC. The implementation of the policy and the day to day management is delegated to the National Director, who is appointed by the Trust Board and approved by the general meeting. John Stevens has been in post as National Director since 2010. In addition to the FIEC National Director there are directors appointed by him with specific responsibilities. During this period the following Directors served:

Head of National Ministry - Adrian Reynolds Head of Local Ministry – Graham Beynon Director for Scotland & North of England - Andy Hunter Director for London - Trevor Archer (resigned) Director for London - Johnny Prime Director for Yorkshire - Daniel Grimwade Director for South Wales - Gareth Lewis Director for Suffolk - Mark Howson Director for West Midlands - Paul Mallard Directors for Women's Ministry - Elinor Magowan & Rachel Sloan Director for Smaller Churches - Jonathan Bond Director for North Wales - Ben Midgley Director for Hampshire & Dorset - Jon Samuel Director for Essex - Simon Medcroft Director for Suffolk - Mark Howson Executive Director - Phil Topham Chief Operating Officer – Hannah Hutchinson

The Head of National Ministry (Adrian Reynolds), Head of Local Ministry (Graham Beynon), Director for Women’s Ministry (Elinor Magowan), Director for Scotland & North of England (Andy Hunter) and Chief Operating Officer (Hannah Hutchinson) form the Senior Leadership Team along with the National Director (John Stevens) and Executive Director (Phil Topham). The Senior Leadership Team is assisted in carrying out its responsibilities by other staff and a number of voluntary advisory teams which provide advice and expertise. The National Recognition Team is established by the Trust Board with the assistance of the National Director to advise the Trust Board on churches to be admitted as members of FIEC and men to be admitted to the FIEC Pastors’ Network.

The Senior Leadership Team meets weekly to discuss and implement policy and practical matters across the organisation. The other ministry staff meet in smaller groups to deliver ministry – the regional directors under the leadership of the Head of Local Ministries and the other ministers under the leadership of the Head of National Ministries. In addition there are a number of teams meeting to discuss, facilitate and lead of key areas of work e.g. intercultural team, theology team, women’s ministry team, operational team, leadership team, Leaders’ Conference team, resources team etc.

The Trust Board are members of The Fellowship Property Trust (which is a separate charity and company, and which prepares its own accounts) and as such, they appoint trustees to the Board of The Fellowship Property Trust.

The trustees' report was approved by the Board of Trustees.

.............................. Ian Jones (Chair) Chair

21 March 2025 Date: .............................................

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 AUGUST 2024

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales and in Scotland requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the provisions of the trust deed. 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.

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

Opinion

We have audited the financial statements of Fellowship of Independent Evangelical Churches (the ‘charity’) for the year ended 31 August 2024 which comprise the statement of financial activities, the statement of financial position, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

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 charity 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 charity’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.

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 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.

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

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 (Accounts and Reports) Regulations 2008 and the Charities Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, 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. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with the Acts and relevant regulations made or having effect thereunder.

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.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

The extent to which the audit was considered capable of detecting irregularities including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

Audit response to risks identified

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Other matters

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice.

Caladine Limited .........................14 April 2025 Chartered Certified Accountants Statutory Auditor Chantry House 22 Upperton Road Eastbourne East Sussex BN21 1BF

Caladine Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income and endowments from:
Donations and legacies
3
1,269,169
318,525
Charitable activities
4
255,187
-
Investments
5
35,125
-
Other income
6
393
-
Total income
1,559,874
318,525
Expenditure on:
Charitable activities
7
1,673,544
235,550
Other expenditure
13
982
-
Total expenditure
1,674,526
235,550
Net income/(expenditure) and
movement in funds
(114,652)
82,975
Reconciliation of funds:
Fund balances at 1 September
2023
1,464,563
714,981
Fund balances at 31 August
2024
1,349,911
797,956		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
1,587,694
989,063
932,468
255,187
234,407
-
35,125
20,740
105
393
915
-
1,878,399
1,245,125
932,573
1,909,094
1,320,079
1,262,596
982
-
-
1,910,076
1,320,079
1,262,596
(31,677)
(74,954)
(330,023)
2,179,544
1,539,517
1,045,004
2,147,867
1,464,563
714,981		 Total
2023
£
1,921,531
234,407
20,845
915
2,177,698
2,582,675
-
2,582,675
(404,977)
2,584,521
2,179,544

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

STATEMENT OF FINANCIAL POSITION

AS AT 31 AUGUST 2024

2024 2023
Notes £ £ £ £
Fixed assets
Property, plant and equipment 15 880,756 882,275
Current assets
Inventories 16 716 6,442
Trade and other receivables 17 461,990 65,963
Cash at bank and in hand 1,129,738 1,452,032
1,592,444 1,524,437
Current liabilities 18 (275,333) (227,168)
Net current assets 1,317,111 1,297,269
Total assets less current liabilities 2,197,867 2,179,544
Non-current liabilities 19 (50,000) -
Net assets 2,147,867 2,179,544
The funds of the charity
Restricted income funds 22 797,956 714,981
Unrestricted funds 23 1,349,911 1,464,563
2,147,867 2,179,544

21 March 2025 The financial statements were approved by the trustees on .........................

.............................. Lan po Ian Jones (Chair)

Chair

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2024

Notes
Cash flows from operating activities
Cash absorbed by operations
27
Investing activities
Purchase of property, plant and equipment
Proceeds from disposal of property, plant
and equipment
Investment income received
Net cash generated from investing
activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2024
£
£
(342,210)
(15,918)
709
35,125
19,916
(322,294)
1,452,032
1,129,738		 2023
£
£
(321,297)
(8,748)
-
20,845
12,097
(309,200)
1,761,232
1,452,032

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

1 Accounting policies

Charity information

Fellowship of Independent Evangelical Churches is a CIO with cross border registration in England and Wales, and Scotland.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's constitution, the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

1 Accounting policies (Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Property, plant and equipment are capitalised only if they are over the value of £500, all other items are accounted for as expenditure.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Freehold land and buildings 1% straight line Fixtures and fittings 20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of non-current assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Inventories

Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

1 Accounting policies (Continued)

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including trade and other payables and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Donations and gifts
1,142,290
318,525
Legacies
-
-
Grants
126,879
-
1,269,169
318,525
Donations and gifts
Churches
975,012
262,729
Individuals
127,804
51,975
Other
9,488
-
Gift Aid
5,041
2,966
Preaching Honoraria
24,945
855
1,142,290
318,525		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
1,460,815
937,428
43,631
-
33,071
128,709
126,879
18,564
760,128
1,587,694
989,063
932,468
1,237,741
856,058
15,411
179,779
52,263
23,444
9,488
10,323
-
8,007
3,930
4,776
25,800
14,854
-
1,460,815
937,428
43,631		 Total
2023
£
981,059
161,780
778,692
1,921,531
871,469
75,707
10,323
8,706
14,854
981,059

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

4 Income from charitable activities

Unrestricted Unrestricted Unrestricted
funds funds
2024 2023
£ £
Courses and conferences
Courses and conference fees 41,785 36,924
Leaders Conference 210,085 190,358
Publications and literature
Primer 350 1,105
Rental income
Rent of 41 The Point 2,967 6,020
255,187 234,407
Income from investments
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2024 2024 2024 2023 2023 2023
£ £ £ £ £ £
Interest receivable 35,125 - 35,125 20,740 105 20,845

5 Income from investments

6 Other income

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Other income 393 915

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

7 Expenditure on charitable activities

Church
support
Training and
information
2024
2024
£
£
Direct costs
Staff costs
685,255
171,429
Establishment costs
28,927
7,237
Staff travel
59,245
14,822
Care and recognition of
churches
29,749
-
Leaders Conference
213,701
-
Women's minitry
2,090
-
Professional advice
-
12,740
Media and publicity
-
9,467
Primer
-
5,760
Hub Conference
-
19,288
Other conferences
-
52,148
Representation of other
bodies
-
-
Support of Affinity
-
-
1,018,967
292,891
Grant funding of activities
(see note 8)
1,150
39,085
Share of support and governance costs (see note 9)
Support
106,091
26,540
Governance
16,812
4,206
1,143,020
362,722
Analysis by fund
Unrestricted funds
1,110,701
315,839
Restricted funds
32,319
46,883
1,143,020
362,722		 Outreach
Other
evangelical
organisation
support
2024
2024
£
£
25,434
32,872
1,074
1,388
2,199
2,842
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
238
-
19,092
28,707
56,432
142,415
150,000
3,938
5,091
624
806
175,684
212,329
32,112
210,834
143,572
1,495
175,684
212,329		 Develop-
ment
2024
£
3,214
136
278
-
-
-
-
-
-
-
-
-
-
3,628
11,135
497
79
15,339
4,058
11,281
15,339		 Total
2024
£
918,204
38,762
79,386
29,749
213,701
2,090
12,740
9,467
5,760
19,288
52,148
238
19,092
1,400,625
343,785
142,157
22,527
1,909,094
1,673,544
235,550
1,909,094

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

7 Expenditure on charitable activities (Continued)

Previous year:
Church
support
Training and
information
2023
2023
£
£
Direct costs
Staff costs
457,165
194,811
Depreciation and
impairment
25,000
-
Establishment costs
30,498
12,996
Staff travel
35,033
14,929
Care and recognition of
churches
7,920
-
Preaching and church visits
950
-
Leaders Conference
189,408
-
Women's minitry
3,451
-
London team
5,031
-
Pastors' network
11,177
-
Media and publicity
-
17,574
Primer
-
1,870
Training information, advice
& support
-
12,981
Hub Conference
-
17,579
Other conferences
-
18,539
Mission information and
support
-
-
Representation of other
bodies
-
-
Support of Affinity
-
-
Development
-
-
Mission projects and teams
-
-
Youth and children's work
1,747
-
767,380
291,279
Grant funding of activities
(see note 8)
29,250
161,400
Share of support and governance costs (see note 9)
Support
131,183
55,137
Governance
11,071
5,917
938,884
513,733
Analysis by fund
Unrestricted funds
882,841
352,333
Restricted funds
56,043
161,400
938,884
513,733		 Outreach
Other
evangelical
organisation
support
2023
2023
£
£
20,234
25,537
-
-
1,350
1,703
1,551
1,957
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
696
-
-
62
-
16,938
-
-
408
-
-
-
24,239
46,197
1,029,540
-
5,726
7,229
995
619
1,060,500
54,045
29,351
54,045
1,031,149
-
1,060,500
54,045		 Develop-
ment
2023
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
15,513
-
-
15,513
-
-
-
15,513
1,509
14,004
15,513		 Total
2023
£
697,747
25,000
46,547
53,470
7,920
950
189,408
3,451
5,031
11,177
17,574
1,870
12,981
17,579
18,539
696
62
16,938
15,513
408
1,747
1,144,608
1,220,190
199,275
18,602
2,582,675
1,320,079
1,262,596
2,582,675

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

7 Expenditure on charitable activities (Continued)

8
Grants payable
Grants to institutions:
Grants to FIEC churches
Passion for Life
Grants to individuals
Previous year:
Grants to institutions:
Grants to FIEC churches
Grants to individuals		 Church
support
Training and
information
2024
2024
£
£
-
39,085
-
-
-
39,085
1,150
-
1,150
39,085		 Outreach
Other
evangelical
organisation
support
2024
2024
£
£
140,300
-
-
150,000
140,300
150,000
2,115
-
142,415
150,000
Church
support
Training and
information
2023
2023
£
£
29,000
161,400
250
-
29,250
161,400		 Develop-
ment
2024
£
10,610
-
10,610
525
11,135
Outreach
2023
£
1,029,540
-
1,029,540		 Total
2024
£
189,995
150,000
339,995
3,790
343,785
Total
2023
£
1,219,940
250
1,220,190

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

9 Support costs allocated to activities

9 Support costs allocated to activities
10 Depreciation
Consumables
Information technology
Other costs
Governance costs
Analysed between:
Church support
Training and information
Outreach
Other evangelical organisation support
Development
Governance costs comprise:
Audit fees
Accountancy
Trust board member expenses
Trust board meeting expenses
Trust board other expenses
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable to the charity's auditor:
- for the audit of the charity's financial statements
- for other financial services
Depreciation of owned property, plant and equipment
Loss on disposal of property, plant and equipment		 2024
£
15,746
25,771
86,348
14,292
22,527
164,684
122,903
30,746
4,562
5,897
576
164,684
2024
£
7,740
3,060
-
11,278
449
22,527
2024
£
7,740
3,060
15,746
982		 2023
£
17,976
22,531
133,429
25,844
18,097
217,877
142,254
61,054
6,721
7,848
-
217,877
2023
£
7,560
3,000
2,160
3,932
1,445
18,097
2023
£
7,560
3,000
17,976
-

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

11 Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year.

12 Trustees were reimbursed meeting expenses (or had their expenses met by the charity) of £11,278 (2023 - £3,932).

No Trustees had any other expenses reimbursed or met by the charity in the year (2023 - 14 were reimbursed £2,160).

12 Employees

The average monthly number of employees during the year was:

Employment costs
Wages and salaries
Social security costs
Other pension costs
The number of employees whose annual remuneration was more than £60,000
is as follows:
£60,001 to £70,000
£70,001 to £80,000
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
Aggregate compensation		 2024
Number
23
2024
£
770,273
73,896
74,035
918,204
2024
Number
-
1
2024
£
450,995		 2023
Number
20
2023
£
578,508
54,162
65,077
697,747
2023
Number
1
-
2023
£
318,270

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

13 Other expenditure

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Net loss on disposal of tangible fixed assets 982 -

14 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

15 Property, plant and equipment

Freehold land
and buildings
Fixtures and
fittings
£
£
Cost
At 1 September 2023
903,904
75,704
Additions
-
15,918
Disposals
-
(53,306)
At 31 August 2024
903,904
38,316
Depreciation and impairment
At 1 September 2023
37,220
60,113
Depreciation charged in the year
7,444
8,302
Eliminated in respect of disposals
-
(51,615)
At 31 August 2024
44,664
16,800
Carrying amount
At 31 August 2024
859,240
21,516
At 31 August 2023
866,684
15,591
16
Inventories
2024
£
Finished goods and goods for resale
716		 Total
£
979,608
15,918
(53,306)
942,220
97,333
15,746
(51,615)
61,464
880,756
882,275
2023
£
6,442

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

17 Trade and other receivables
2024 2023
Amounts falling due within one year: £ £
Trade receivables 64 8,282
Prepayments and accrued income 461,926 57,681
461,990 65,963
18 Current liabilities
2024 2023
Notes £ £
Other taxation and social security 19,591 25,419
Deferred income 20 190,523 153,800
Other payables 50,000 31,500
Accruals 15,219 16,449
275,333 227,168
19 Non-current liabilities
2024 2023
£ £
Other payables 50,000 -
20 Deferred income
2024 2023
£ £
Other deferred income 190,523 153,800
Deferred income is included in the financial statements as follows:
2024 2023
£ £
Deferred income is included within:
Current liabilities 190,523 153,800
Movements in the year:
Deferred income at 1 September 2023 153,800 163,542
Released from previous periods (153,800) (163,542)
Resources deferred in the year 190,523 153,800
Deferred income at 31 August 2024 190,523 153,800

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

20 Deferred income (Continued)

Deferred income is comprised of monies received in advanced for the FIEC Leadership Conference held in November 2024.

21 Retirement benefit schemes

Retirement benefit schemes
2024 2023
Defined contribution schemes £ £
Charge to profit or loss in respect of defined contribution schemes 74,035 65,077

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

22 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 Incoming Resources Transfers At 31 August Transfers At 31 August
September resources expended 2024
2023
£ £ £ £ £
Benevolent fund 1,806 11,110 (1,150) - 11,766
Mission fund 142,715 44,215 (140,300) - 46,630
Dalling memorial fund 24,701 450 - - 25,151
Philip Henman trust fund 121,205 - - - 121,205
Scottish legacy fund 23,373 - - - 23,373
FIEC loan fund 74,735 - - - 74,735
Training fund 29,204 59,262 (39,085) - 49,381
Connect for growth 5,825 - (2,115) - 3,710
Office property fund 126,512 - (2,300) - 124,212
London Directors fund 150,000 855 (39,465) - 111,390
Bursary fund 14,905 2,633 (11,135) - 6,403
McAllister Memorial fund - 200,000 - - 200,000
714,981 318,525 (235,550) - 797,956

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

22
Restricted funds (Continued)
Previous year:
At 1
September
2022
Incoming
resources
Resources
expended
£
£
£
Benevolent fund
2,056
-
(250)
Mission fund
500,973
671,977
(1,030,235)
Dalling memorial fund
24,701
-
-
Philip Henman trust fund
121,205
-
-
Scottish legacy fund
23,373
-
-
Church hardship fund
42,500
-
(29,000)
Development fund
9,136
6,272
(14,003)
FIEC loan fund
99,630
105
(25,000)
Training fund
86,385
104,219
(161,400)
Connect for growth
6,233
-
(408)
Office property fund
128,812
-
(2,300)
London Directors fund
-
150,000
-
Bursary fund
-
-
-
1,045,004
932,573
(1,262,596)		 Transfers At 31 August
2023
£
£
-
1,806
-
142,715
-
24,701
-
121,205
-
23,373
(13,500)
-
(1,405)
-
-
74,735
-
29,204
-
5,825
-
126,512
-
150,000
14,905
14,905
-
714,981

Benevolent fund - used to make gifts to ministers, partners, and affiliated church members, who are considered to be in need of financial assistance.

Mission fund - to provide support for church planting initiatives and other outreach initiatives within the UK.

Dalling memorial fund - to provide support to accredited ministers and their families in time of illness.

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

22 Restricted funds (Continued)

Philip Henman trust fund - supporting the work and outreach of the Fellowship.

Scottish legacy fund - to provide support for the work of the Fellowship in Scotland.

Church Hardship Fund – to provide support for churches which are struggling financially. The balance on the Church Hardship fund was transferred to the new Bursary fund in June 2023 when all the allocated grants had been sent out.

Development fund - meeting costs for specific projects made known by FIEC to develop the fundraising and administrative support functions of FIEC.

FIEC loan fund - this fund was previously used for making loans available to church plants and building projects to advance gospel work. The fund has now been converted (with Charity Commission approval) into a grant fund within the Mission fund so there will be no further loan applications accepted.

Training fund - to provide financial support to men and women from within the FIEC family of churches to assist in their formal training for gospel ministries. The Fund also provides help to FIEC Churches in establishing ministry posts as well as evangelism and church planting initiatives involving training appointments.

Connect for growth - to provide support for our relationship with the Mississippi Baptist Convention in the United States which sees church members from both sides of the Atlantic visit each other's churches to provide support with ministry and mission.

Office property fund - established with money given specifically for the purchase of the Fellowship's office and through transfers from other funds which were restricted as to their use for property purchase.

London Directors fund - Funds from a closed church to be used within London and the surrounding area which have been ringfenced by the Trustees to fund the London Director's salary for up to a period of three years

Bursary fund - to provide help for churches leaders to attend FIEC conferences.

23 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1
September
2023
Incoming
resources
Resources
expended
£
£
£
Local Directors fund
119,618
145,588
(100,680)
Capital fund
39,994
-
-
General funds
1,304,951
1,414,286
(1,573,846)
1,464,563
1,559,874
(1,674,526)		 Transfers At 31 August
2024
£
£
-
164,526
-
39,994
-
1,145,391
-
1,349,911

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

23 Unrestricted funds (Continued)

Previous year:
At 1
September
2022
Incoming
resources
Resources
expended
£
£
£
Local Directors fund
-
-
-
Capital fund
39,994
-
-
General funds
1,499,523
1,245,125
(1,320,079)
1,539,517
1,245,125
(1,320,079)		 Transfers At 31 August
2023
£
£
119,618
119,618
-
39,994
(119,618)
1,304,951
-
1,464,563

Local Directors fund - Funds ringfenced by the Trustees to fund the Local Directors salary costs and expenses, less associated income, for three years.

Capital fund - Funds ringfenced by the Trustees to fund replacement of Capital equipment.

24 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2024
2024
£
£
At 31 August 2024:
Property, plant and equipment
756,544
124,212
Current assets/(liabilities)
643,367
673,744
Long term liabilities
(50,000)
-
1,349,911
797,956
Unrestricted
Restricted
funds
funds
2023
2023
£
£
At 31 August 2023:
Property, plant and equipment
755,763
126,512
Current assets/(liabilities)
708,800
588,469
1,464,563
714,981		 Total
2024
£
880,756
1,317,111
(50,000)
2,147,867
Total
2023
£
882,275
1,297,269
2,179,544

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

25 Operating lease commitments

Lessee

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years		 2024
£
2,008
5,462
7,470		 2023
£
2,008
7,470
9,478

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

26 Related party transactions

Transactions with related parties

During the year the charity entered into the following transactions with related parties:

The trustees /directors of The Fellowship Property Trust are appointed by members of the charity. During the year ended 31 August 2024 FIEC charged rent to the Trust of £667 (2023 - £4,000) and various expenses (including staff salaries) of £27,172 (2023: £24,179).

The Fellowship Property Trust hold properties in Trust for FIEC member. During the 2023 year, two of these properties were sold. The proceeds of the sale were given to FIEC in the form of a grant totalling £757,053 in 2023. There were no such amounts during the current year.

Members of Edward Connor Solicitors (ECS) are Trustees of FIEC from time to time. During the year ended 31 August 2024 the charity recharged various expenses (including staff salaries) of £20,946 (2023: £15,593). In addition, FIEC received legal advice from ECS and incurred other various costs of £15,145 (2023: £11,828).

27 Cash generated from operations 2024 2023
£ £
Deficit for the year (31,677) (404,977)
Adjustments for:
Investment income recognised in statement of financial activities (35,125) (20,845)
Loss on disposal of property, plant and equipment 982 -
Depreciation and impairment of fixed assets 15,746 42,976
Movements in working capital:
Increase in programme related assets - 6,000
Decrease in inventories 5,726 1,819
(Increase)/decrease in trade and other receivables (396,027) 6,996
Increase in trade and other payables 61,442 56,476
Increase/(decrease) in deferred income 36,723 (9,742)
Cash absorbed by operations (342,210) (321,297)

28 Analysis of changes in net funds

The charity had no material debt during the year.