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← Yeovil Community Church

2024-12-31-accounts

Charity registration number: 1170106

Yeovil Community Church

Annual Report and Financial Statements for the Year Ended 31 December 2024

Yeovil Community Church

Contents (continued)

Reference and Administrative Details 1
Trustees' Report 2 to 8
Independent Examiners' Report 9
Statement of Financial Activities 10
Balance Sheet 11
Cash Flow Statement 12
Notes to the Financial Statements 13 to 29

Yeovil Community Church

Reference and Administrative Details

Chairman R D Brazier
Trustees K G Foy
S J Roughsedge, resigned 17 June 2024
R Hoyles
K Hibbert
M J M Nichols
S J P Collins
H Day
V Bastable
N Hardy
Senior Management Team J Hardy
A Dyer
L Collins
C Hardy, resigned 22 November 2024
Charity Registration Number 1170106
Principle Office The GateWay
Addlewell Lane
Yeovil
Somerset
BA20 1QN
Independent examiners Milsted Langdon LLP
Motivo House
Alvington
Yeovil
Somerset
BA20 2FG
Bankers National Westminster Bank Plc
2 Hendford
Yeovil
Somerset
BA20 1TN

Page 1

Yeovil Community Church

Trustees' Report

The trustees present the annual report together with the financial statements and independent examiners' report of the charity for the year ended 31 December 2024.

Structure, governance and management

Yeovil Community Church was registered as a charitable incorporated organisation and is governed by its document dated 10 November 2016. The registered company number is CE008148. It is also a registered charity with the registered charity number of 1170106.

Reference and administrative details including the principal office address and details of trustees who served the charity during the period and up to the date of signing are shown on page 1 of the financial statements.

Trustees are appointed in accordance with the governing document. Formal trustee training is provided on an ad-hoc basis as required. All strategic decisions are taken by the trustees in partnership with the ‘Strategic Team’ which includes staff members, but day-to-day operating decisions relating to ‘The GateWay’ building and the coffee shop are delegated to staff.

The personnel committee proposes all staff salaries to the full Trustee board for approval. Where applicable, staff salaries are compared to industry average, but this is not always possible due to the role. All staff are considered equally and without prejudice or bias. Any Trustee with a conflict of interest will be excluded from those decisions.

The Trustees continue to review the major risks to which the charity is exposed, covering all identified, relevant areas including financial risk and risks associated with personnel. Risks have been identified, assessed and safeguards have been put in place to eliminate or mitigate such risks as far as is reasonably possible.

Page 2

Yeovil Community Church

Trustees' Report (continued)

Objectives and activities

The main charitable objects of the CIO are:

The Church is a body of Christian believers that have been active in Yeovil since 1907. For many years the main focus of the Church’s activity was centred on Preston Chapel, and the group operated with charitable status through that building’s trust deed under the Places of Worship Act.

With a growth in numbers, this building became inadequate, and the body of believers worshipped in a local school hall, although the chapel building remained in use for various church and community activities, as well as serving as the Church’s administrative centre. It became evident that the continued growth in numbers would require a significantly larger permanent building, and in 1994 the Church began fundraising with a view to acquiring such a building for use by the Church and local community. In 1999 a property was acquired, and work started on a complete refurbishment of this building. This work was completed in early 2001 and ‘The GateWay’ building was officially opened on 3 March 2001.

The objects of the Charity are now implemented in a range of activities. These include;

Page 3

Yeovil Community Church

Trustees' Report (continued)

When planning the activities for the period, the Trustees have considered the Charity Commission’s general guidance on public benefit and, in particular, the specific guidance for charities for the advancement of religion. The Trustees believe the activities set out above and further described below under ‘achievements and performance’ clearly demonstrate the charity’s commitment to providing an identifiable public benefit and that access to this benefit is not restricted in any way.

The Charity heavily relies on the contribution of volunteers. The Trustees would like to say a massive thank you to all the volunteers who contribute to the Charity activities. Whilst it has not been measured in hours, the work that is carried out by the volunteers from the Sunday morning production team to those helping with reception, and those who offer to bring an elderly member to our services, is priceless. We cannot thank you enough.

The Charity continues to make gifts to individuals and organisations both in the UK and overseas in line with its objects. Gifts are made on an ad-hoc basis, according to need, subject to the availability of funds, and after careful consideration by the Trustees in committee.

Page 4

Yeovil Community Church

Trustees' Report (continued)

Achievements and performance

The Charity has continued to focus on work in pursuance of its charitable objectives. These are;

The Charity achieved the following during the financial year;

Fundraising events are held on an ad-hoc basis. During our Sunday morning services, we do encourage financial giving in the form of our offering. Some of these offerings have specific purposes and this is openly communicated during the service.

Public benefit

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Financial review

The principal funding of the charity is through government grants and donations.

Total income amounts to £925,276 (2023: £1,114,024) as disclosed further in notes 2-5. Total expenditure amounts to £992,970 (2023: £1,183,111) as disclosed further in notes 6-11.

Cash at bank and in hand at the year-end was £345,367 (2023: £409,564).

The total amount of funds held is £1,305,225 (2023: £1,372,919). Of these funds, £216,009 (2023: £312,028) are restricted and £1,089,216 (2023: £1,060,891) are unrestricted. Of these unrestricted funds, £941,256 (2023: £952,884) are designated. These designated funds represent the net book value of the freehold property and a contingency fund.

Page 5

Yeovil Community Church

Trustees' Report (continued)

Policy on reserves

A reserves policy has been established and approved by the Trustees to develop the cash and reserves to cover three months of liabilities. For our assessment of the reserves, it includes the unrestricted and contingency funds. These two balances cover three months of wages, and the creditors at the year end which reflects the majority of liabilities throughout an operational month. Our reserves will fluctuate during the financial year depending on when our income is received and expenditure is spent.

We continue to make any decisions required to ensure that the charity is safely and responsibly acting in relation to its operations.

Plans for future periods

Aims and key objectives for future periods

In 2023, we were informed of a cut in council funding which was going to impact on our restricted income and operations. Due to the nature of the income, this was also going to have a substantial impact on the unrestricted income and operations due to the management charge we had historically had the benefit of having as part of the contract. In April 2024, the council funding ended and we established a new Y4F programme and subsequently, gained a lottery fund which enabled us to secure funding for a five year period. This will allow us to support families in our community and continue the revised programme in place.

We continue to engage with refugees and the homeless community as part of our outreach operations. We do not envisage a drop of funding in these areas, however, the funding for these contracts renew on a yearly basis, so we have to plan for different scenarios. With the cost of employment and resources going up, we do need to consider the funding that is provided and how we continue to provide the same level of operational services.

Our strategy team consisting of three staff members and one trustee, has significantly reduced over the last few years. We are considering our structure and operations in line with our revised staffing structure and where gaps might be apparent. There is also a financial element to this, as we have recruited in different roles and reduced our income in the last few years and therefore, we need to make sustainable recruitment.

We hope to have a building development plan in place by the end of 2025. This will take into account our building requirements, any development and some accessibility issues we currently have. We would also like to find a solution to our small car parking space in comparison to our building size and operations.

The coffee shop continues to be loss making. This is an area of focus in 2025, as although, we appreciate that the coffee shop is not only a profit making business, we do not feel it is appropriate to spend excessive funds to keep the coffee shop running and at a minimum, should cover its own costs.

Page 6

Yeovil Community Church

Trustees' Report (continued)

Financial instruments

Objectives and policies

The charity’s activities expose it to a number of financial risks including liquidity risk, reputational risk and withdrawal or reductions in incoming resources. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments.

Incoming resources

The Trustees recognise that some of our projects are heavily reliant on funding from external organisations. There is a risk that the funding ceases and the projects can no longer continue or that the funding requirements are not met in terms of timing. To mitigate this risk, we have ensured that all contracts are legally binding and signed by the appropriate people.

Reputational risk

A significant amount of our income is reliant on members of the public willingly giving their money. If we suffer a reputational issue, our funding is likely to be impacted. To mitigate this risk, we continually review our procedures for safeguarding and other high risk areas. We ensure our staff and volunteers have DBS clearance, where required, and are appropriately trained for their role.

Liquidity risk

There is a risk that not enough money is being received to cover the expenditure or that the timing of the incoming funds is too late for the expenditure. For 2024, the finance team and staff completed a budget to outline all expected income and all anticipated expenditure. We intentionally removed any income that was not guaranteed or highly anticipated and included all expenditure that was needed and wanted for additional projects. All appropriate staff agreed on their proposed budget and any further expenditure had to be agreed by the finance committee or full Trustee board depending on the amount. The Trustees have prepared and agreed on budgets for 2025.

Page 7

Yeovil Community Church

(Registration number: 1170106)

Trustee’s Report (Continued)

Statement of Trustees' Responsibilities

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

The law applicable to charities 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 period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper 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 Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees 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 responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Disclosure of information to independent examiners

Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant information and to establish that the charity's independent examiner is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

The annual report was approved by the trustees of the charity on 4[th] June 2025 and signed on its behalf by:

The notes on pages 13 to 29 form an integral part of these financial statements. Page 8

Yeovil Community Church

(Registration number: 1170106)

The notes on pages 13 to 29 form an integral part of these financial statements. Page 9

Yeovil Community Church

(Registration number: 1170106)

Statement of Financial Activities for the Year Ended 31 December 2024

Note
Income and Endowments
Donations and legacies
from:
2
Charitable activities
3
Other trading activities
4
Investment income
5
Total income
Expenditure on:
Raising funds
6
Charitable activities
7
Total expenditure
Net income/(expenditure)
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
19		 Unrestricted
funds
£
348,131
300,615
13,547
7,653
669,946
(1,320)
(640,301)
(641,621)
28,325

28,325
1,060,891
1,089,216		 Restricted
funds
£
8,217
246,730
383
-
255,330
(129)
(351,220)
(351,349)
(96,019)
(96,019)
312,028
216,009




All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 20.

The notes on pages 13 to 29 form an integral part of these financial statements. Page 10

Yeovil Community Church

(Registration number: 1170106) Balance Sheet as at 31 December 2024

2024 2023
Note £ £
Fixed assets
Tangible assets 12 947,298 963,383
Current assets
Stocks 13 500 500
Debtors 14 88,648 68,792
Cash at bank and in hand 15 345,367 409,564
434,515 478,856
Creditors: Amounts falling due within one year 16 (76,588) (69,320)
Net current assets 357,927 409,536
Net assets 1,305,225 1,305,225 1,372,919
Funds of the charity:
Restricted income funds
Restricted funds 19 216,009 312,028
Unrestricted income funds
Unrestricted funds 1,089,216 1,089,216 1,060,891
Total funds 19
1,305,225		 1,305,225 1,372,919

The financial statements on pages 12 to 31 were approved by the trustees, and authorised for issue on 4[th] June 2025 and signed on their behalf by:

The notes on pages 13 to 29 form an integral part of these financial statements. Page 11

Yeovil Community Church

Cash Flow Statement for the Year Ended 31 December 2024

Note
Cash flows from operating activities
Net cash expenditure
Adjustments to cash flows from non-cash items
Depreciation
12
Investment income
5
Profit/(loss) on disposal of tangible fixed assets
Working capital adjustments
(Increase)/decrease in debtors
14
(Decrease)/increase in creditors
16
Net cash flows from operating activities
Cash flows from investing activities
Interest receivable and similar income
5
Purchase of tangible fixed assets
12
Sale of tangible fixed assets
Net cash flows from investing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at 1 January
Cash and cash equivalents at 31 December		 2024
£
(67,694)
33,139
(7,653)
-
25,486
(42,208)
(19,856)
7,268
(12,588)
7,653
(17,054)
-
(9,401)
(64,197)
409,564
345,367		 2023
£
(69,087)
35,614
(262)
(89)
35,263
(33,824)
(317)
(1,981)
(36,122)
262
(22,340)
1,075
(21,003)
(57,125)
466,689
409,564




All of the cash flows are derived from continuing operations during the above two periods.

The notes on pages 13 to 29 form an integral part of these financial statements. Page 12

Yeovil Community Church

Notes to the Financial Statements for the Year Ended 31 December 2024

1 Accounting policies

Statement of compliance

The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Basis of preparation

Yeovil Community Church meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The Financial statements are prepared in sterling, which is the functional currency of the charity and rounded to the nearest £.

Going concern

The trustees have prepared forecasts for 2025 (and 2026) which demonstrate that provided donations continue to be received and committed grant income is received, the charity will have sufficient funds to pay its liabilities as they fall due. Accordingly, they continue to adopt the going concern basis in preparing the report of the trustees and financial statements.

Judgements and key sources of uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Donations and legacies

Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.

Deferred income

Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:

Gifts in kind

Gifts in kind are included in the accounts at the market value i.e the amount the charity would have paid at the date they were gifted.

Page 13

Yeovil Community Church

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

Investment income

Investment income includes bank interest and is included when receivable.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

All resources expended are inclusive of irrecoverable VAT.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.

Government grants

Government grant income is recognised on a receivable basis. Where a restriction is placed on the use of the grant, the amount of the grant is included in restricted funds. Grants that are receivable as compensation for expenses or losses already incurred or for purposes of giving immediate financial support to entity with no future related costs are recognised in income in the period in which it became receivable.

Irrecoverable VAT

Irrecoverable VAT is charged against the category of resources expended for which it was incurred.

Page 14

Yeovil Community Church

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £500.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Depreciation method and rate
Freehold Land and Buildings over 50 years, land nil
Equipment, Kitchen equipment and Machinery 25% reducing balance and over 3
Years
Motor vehicles over 4 years

Stock

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Page 15

Yeovil Community Church

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

Trade creditors

Trade creditors are obligated to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.

Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against income on a straight-line basis over the period of the lease.

Pensions and other post retirement obligations

The company operates a defined contribution pension scheme for certain employees. The assets of the scheme are held separately from those of the company in an independently administered fund. Pension costs are charged to the Statement of Financial Activities as incurred, and represent contributions payable by the company.

Financial instruments

Recognition and measurement

The charity only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the charity and their measurement basis are as follows;

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank - is classified as a basic financial instrument and is measured at face value.

Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.

Page 16

Yeovil Community Church

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

2 Income from donations and legacies

Donations and legacies;
Worship
Y4F income
Legacies		 Unrestricted
funds
General
£
348,131
-
-
348,131		 Restricted
funds
£
470
7,161
586
8,217		 Total
2024
£
348,601
7,161
586
356,348		 Total
2023
£
260,421
29,558
505
290,484

£348,131 (2023 - £256,628) of the income above was attributable to unrestricted funds and £8,217 (2023 - £33,856) attributable to restricted funds.

3 Income from charitable activities

Y4F income
Coffee shop
Activities with Church family
Other activities
Other grants
Contributions to core funding		 Unrestricted
funds
General
£
-
95,610
7,627
61,828
-
135,550
300,615		 Restricted
funds
£
155,196
-
36
1,790
225,258
(135,550)
246,730		 Total
2024
£
155,196
95,610
7,663
63,618
225,258
-
547,345		 Total
2023
£
581,400
85,198
24,020
55,850
75,931
-
822,399

£300,615 (2023 - £435,733) of the income above was attributable to unrestricted funds and £246,730 (2023 - £386,666) attributable to restricted funds.

Page 17

Yeovil Community Church

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

4 Income from other trading activities

Events income;
Other events income		 Unrestricted
funds
General
£
13,547

13,547		 Restricted
funds
£
383
383		 Total
2024
£
13,930
13,930		 Total
2023
£
879
879

£13,547 (2023 - £859) of the income above was attributable to unrestricted funds and £383 (2023 - £20) attributable to restricted funds.

5 Investment income

Interest receivable and similar income;
Interest receivable		 Unrestricted
funds
General
£
7,653		 Total
2024
£
7,653		 Total
2023
£
262

All of the income above was attributable to unrestricted funds in 2024 and 2023.

6 Expenditure on raising funds

a) Costs of generating donations and legacies

Marketing and publicity
 Unrestricted
funds
General
£
1,320

1,320		 Restricted
funds
£
129
129		 Total
2024
£
1,449
1,449		 Total
2023
£
624
624

£1,320 (2023 - £624) of the expenditure above was attributable to unrestricted funds and £129 (2023 - £Nil) attributable to restricted funds.

Page 18

Yeovil Community Church

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

7 Expenditure on charitable activities

Note
Unrestricted funds
Designated
General
£
£

Worship
-133,408
Y4F costs
--
Operational
activities
2,954 181,781
Coffee shop
-109,236
Activities with
Church family
-163,330
Allocated support
costs
8
8,674 38,341
Governance
costs
8
-2,577
11,628
628,673		 Restricted
funds
£
-

297,194
18,430
-

6,334
29,262
-
351,220		 Total
2024
£
133,408
297,194
203,165
109,236
169,664
76,277
2,577
991,521		 Total
2023
£
47,083
494,960
327,465
94,257
137,017
66,392
15,313
1,182,487

£640,301 (2023 - £663,593) of the expenditure above was attributable to unrestricted funds and £351,220 (2023 - £518,894) attributable to restricted funds.

8 Analysis of governance and support costs

Support costs

Unrestricted funds
Designated
General
£
£
Depreciation, amortisation
and other similar costs
8,674 23,997
(Profit)/loss on disposal of
tangible fixed assets
--
Consultancy fees
-12,586
Legal and professional fees
--
Other resources expended
- 1,758
8,674
38,341		 Restricted
funds
£
468
-
28,778
-
16
29,262		 Total
2024
£
33,139
-
41,364
-
1,774
76,036		 Total
2023
£
35,614
(89)
18,770
3,846
8,251
66,392

£47,015 (2023 - £54,302) of the expenditure above was attributable to unrestricted funds and £29,262 (2023 - £12,090) attributable to restricted funds.

Page 19

Yeovil Community Church

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

Governance costs

Unrestricted
funds
Total
General
£
2024
£
Audit fees
Audit of the financial statements
28
28
Other fees paid to auditors
(451)
(451)
Independent examiner fees
Examination of the financial statements 3,000
3,000
2,577
2,577
All of the expenditure above was attributable to unrestricted funds in 2024 and 2023.
9 Net incoming/outgoing resources
Net outgoing resources for the year include:
2024
£
Operating leases - other assets
-
Audit fees
28
Other non-audit services
(451)
Independent examiner fees
3,000
(Profit)/loss on disposal of tangible fixed assets
-
Depreciation of fixed assets
33,139		 Total
2023
£
6,220
9,093
-
15,313
2023
£
14,520
6,220
9,093
-
(89)
35,614

All of the expenditure above was attributable to unrestricted funds in 2024 and 2023.

10 Trustees remuneration and expenses

During the year the charity entered into the following transactions with trustees:

R Hoyles

£Nil (2023: £54) of expenses were reimbursed to R Hoyles during the year.

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year (2022: £nil).

No trustees have received any other benefits from the charity during the year.

Related party transactions are disclosed in note 22.

Page 20

Yeovil Community Church

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

11 Staff costs

The aggregate payroll costs were as follows:

The aggregate payroll costs were as follows:
Staff costs during the year were:
Wages and salaries
Social security costs
Pension costs		 2024
£
585,945
37,210
22,578
645,733		 2023
£
707,592
49,774
26,728
784,094

The monthly average number of persons (including senior management team) employed by the charity during the year was as follows:

charity during the year was as follows:
Leadership
Administration
Ministry
Coffee shop
Y4F		 2024
No
4
5
5
6
12		 2023
No
6
4
3
3
20
32 36

The full time equivalent number of staff for the same period was 22 (2023: 27).

No employee received emoluments of more than £60,000 during the year

The total employee benefits of the key management personnel of the charity were £128,599 (2023 - £165,545).

Page 21

Yeovil Community Church

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

12 Tangible fixed assets

12 Tangible fixed assets
Cost
At 1 January 2024
Additions
Disposals
At 31 December 2024
Depreciation
At 1 January 2024
Charge for the year
Eliminated on disposals
At 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023
13 Stock
Stocks
14 Debtors
Trade debtors
Prepayments and accrued income
Other debtors		 Freehold
land and
buildings
£
933,800
-
-
933,800
51,224
8,674
-
59,898
873,902
882,576		 Equipment,
kitchen
equipment
and
machinery
£
225,258
17,054
-
242,312		 Motor
vehicles
£
10,913
-
-		 Total
£
1,169,971
17,054
-
1,187,025
206,588
33,139
-
239,727
947,298
963,383
2023
£
500
2023
£
48,780
4,809
15,203
68,792
10,913
144,451
24,465
-
168,916
73,396
80,807
 10,913
-
-
10,913
-
-
2024
£
500
2024
£
53,008
11,797
23,844
88,649

Page 22

Yeovil Community Church

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

15 Cash and cash equivalents

Cash on hand
Cash at bank		 2024
£
92
345,275
345,367		 2023
£
828
408,736
409,564

16 Creditors: amounts falling due within one year

Trade creditors
Other taxation and social security
VAT payable
Other creditors
Accruals
Deferred income
Deferred income brought forward
New invoices raised
Amounts released
Deferred income carried forward		 2024
£
13,270
7,273
29,046
7,552
8,113
11,335
76,589
Total
2024
£
10,796
45,341
(44,802)
11,335		 2023
£
15,938
5,532
9,184
9,290
18,580
10,796
69,320
Total
2023
£
-
43,182
(32,386)
10,796

17 Obligations under leases and hire purchase contracts

Operating lease commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

Land and buildings
Within one year
Between one and five years		 2024
£
-
-
-		 2023
£
3,000
-
3,000

There is the option of a break clause each year. The lease of the office ceased in March 2024.

Page 23

Yeovil Community Church

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

18 Pension and other schemes

Defined contribution pension scheme

The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £22,578 (2023 - £26,728)

Contributions totalling £7,552 (2023 - £9,290) were payable to the scheme at the end of the year and are included in creditors.

Page 24

Yeovil Community Church

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

19 Funds
Unrestricted funds
General
General fund
Designated
Designated Building Fund
Contingency Fund

Total unrestricted funds
Restricted funds
Capital/Building
Development Fund
Griffiths Legacy – Overseas
Mission
Small Support Funds
Homeless Project
Y4F General
SCC ARAP
Short Term Gifts
Abri sustaining families
Charis
National Lottery – Reaching
Communities
Y4F Continuation Fund
Total restricted funds
Total funds		 Balance at 1
January 2024
£
108,007
882,576
70,308
952,884
1,060,891
94,793
24,159
6,866
16,180
34,031
17,855
2,832
33,643
4,248
-
77,421
312,028
1,372,919		 Incoming
resources
£
669,946
-
-
-
669,946
5,000
100
-
44,629
11,097
-
-
-
78,206
132,525
(16,228)
255,330
925,276		 Resources
expended
Balance at 31
December 2024
£
£
(629,993)
147,961
(8,674)
873,902
(2,954)
67,354
(11,628)
941,256
(641,621)
1,089,217
(15,123)
84,670
(6,309)
17,950
(67)
6,799
(52,488)
8,321
(45,128)
-
(17,855)
-
(539)
2,293
(33,643)
-
(72,448)
10,006
(46,651)
85,874
(61,098)
95
(351,349)
216,009
(992,970)
1,305,225

Page 25

Yeovil Community Church

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

20 Funds
Balance at 1
January 2023
£
Unrestricted funds
General
General fund
70,068
Designated
Designated Building Fund
891,250
Contingency Fund
70,308
961,558
Total unrestricted funds
1,031,626
Restricted funds
Capital/Building
Development Fund
97,053
Griffiths Legacy - Overseas
Mission
32,904
Raise your words Y4F -
Writers Group
3,313
Small Support Funds
10,281
Homeless Project
29,682
Y4F General
176,842
Y4F Afghan Families
165
Y4F Intentional Peer
Support
5,453
Y4F Resettlement
2,740
SCC ARAP
4,881
Short Term Gifts
-
Abri sustaining families
38,000
Charis
9,066
Y4F Continuation Fund
-
Total restricted funds
410,380
Total funds
1,442,006		 Incoming
resources
£
693,482
-
-
-
693,482
-
-
-
-
23,008
249,636
-
6,621
-
23,228
4,468
(4,357)
40,517
77,421
420,542
1,114,024		 Resources
expended
Balance at 31
December 2023
£
£
(655,543)
108,007
(8,674)
882,576
-
70,308
(8,674)
952,884
(664,217)
1,060,891
(2,260)
94,793
(8,745)
24,159
(3,313)
-
(3,415)
6,866
(36,510)
16,180
(392,447)
34,031
(165)
-
(12,074)
-
(2,740)
-
(10,254)
17,855
(1,636)
2,832
-
33,643
(45,335)
4,248
-
77,421
(518,894)
312,028
(1,183,111)
1,372,919

Page 26

Yeovil Community Church

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

The specific purposes for which the funds are to be applied are as follows:

The unrestricted general fund is available to be used at the trustees’ discretion to further the objects of the charity.

Designated funds include unrestricted funds that have been ringfenced by the trustees for the purpose of maintaining a building fund. This equates to the net book value of assets purchased from designated income. Depreciation on these assets is written off annually against the designated funds.

In addition, there is a contingency fund. This is money that has been set aside to pay all wages and debts due should the charity fall into financial difficulty. This ensures the risk to the charity is reduced substantially. The trustees have made a transfer from restricted to designated funds as there were no restrictions placed by the grant provider.

Restricted funds relate to incoming resources which have been received subject to specific conditions imposed by the donor and binding on the Trustees and may only be applied in accordance with the restrictions placed on the donation.

The Capital/Building Development Fund of which a balance of £84,670 is restricted on spending for the development, improvement and potential expansion of the building.

The Griffiths Legacy of which a balance of £17,950 is restricted on spending for overseas mission trips as approved by the trustees.

The Small support funds, of which a balance of £6,799 is restricted for spending on those in the community who require additional help with small or sundry items.

The Homeless Project fund, of which a balance of £8,322 is restricted for spending on working with the Homeless community.

The Y4F general fund, of which a balance of £Nil is ringfenced for Y4F, but the use within that is not determined. This is restricted for the enhancement of the programme. The Y4F contract in this format ceased on 31 March 2024.

The SCC ARAP fund, of which a balance of £Nil was restricted to support families in need in the local area.

The Short Term Gifts fund, of which a balance of £2,294 relates to income and expenditure in relation to small gifts given by donors to spend for a specific purpose. The majority of this balance is capital and will reduce in line with our depreciation policy.

The Abri sustaining families fund, of which a balance of £Nil was restricted to support families in need in the local area.

The Charis fund, of which a balance of £10,006 is restricted, is due to Charis being directly contracted by Somerset Council and the charity have engaged in a contract with them to run a Welcome Hub from the Gateway building.

Page 27

Yeovil Community Church

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

National Lottery – Reaching Communities fund – in addition, to the Y4F continuation fund, we were awarded a five year fund from the lottery, to continue our community work, which we are required to match fund. We are awarded funds in half yearly installments and the funding decreases every financial year. The fund balance is £85,874 at the end of the financial year.

Y4F Continuation fund - during 2023, we were informed that the Council were cutting our Y4F funding at the end of our contract to 31 March 2024. As an organisation, we knew that we wanted to continue supporting the most vulnerable in our community, so we announced the funding cuts and asked for our community to respond. This fund, with a fund balance of £96, is a reflection of this response and allows us to continue our support. The delivery of the support may need to be adjusted based on the staff cuts and reduction in funding available, but this was accepted by all those who donated. We have seen incredible generosity in this response, and we could not express how grateful we are to those who have contributed.

21 Analysis of net assets between funds

Tangible fixed assets
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Total net assets		 Unrestricted funds
General
Designated
£
£
73,396
873,902
151,152
67,354
(76,588)
-
147,960
941,256
Unrestricted funds
General
Designated
£
£
80,807
882,576
96,520
70,308
(69,320)
-
108,007
952,956		 Restricted
funds
£
-
216,009
-
216,009
Restricted
funds
£
-
312,028
-
312,028		 Total funds
at 31
December
2024
£
947,298
434,515
(76,588)
1,305,225
Total funds
at 31
December
2023
£
963,383
478,856
(69,320)
1,372,919

Page 28

Yeovil Community Church

Notes to the Financial Statements for the Year Ended 31 December 2024

(continued)

22 Related party transactions

During the year the charity made the following related party transactions:

Claire Hardy, who is the daughter of a trustee and daughter-in-law of another trustee, is married to Joseph Hardy. They were both employed by the Charity on salaries commensurate with their positions.

At the balance sheet date the amount due to/from them was £Nil (2023 - £Nil).

Jo Nichols is the daughter of a trustee and is employed by the Charity on a salary commensurate with her position.

At the balance sheet date the amount due to/from her was £Nil (2023 - £Nil).

Lisa Collins, whose husband is a trustee, is employed by the Charity, on a salary commensurate with her position.

At the balance sheet date the amount due to/from her was £Nil (2023 - £Nil).

Trustees, including related parties, donated a total of £59,125 during 2024 (£49,281 during 2023).

Yeovil Community Church Trust

The Charity is connected to the Yeovil Community Church Trust which has trustees and certain objects in common. The trustees in common are as follows: K Hibbert and M Nichols.

The Charity was removed from the register on 30 March 2023.

At the balance sheet date the amount due to/from Yeovil Community Church Trust was £Nil (2023 - £Nil).

Revolution Audio

During the year, the Charity paid £3,721 (2023 - £4,082) to Revolution Audio for equipment hire which is a business run by Malcolm Nichols' son.

At the balance sheet date the amount due to/from Revolution Audio was £Nil (2023 - £Nil).

Yeovil Christian Support Trust

During the year, the Charity received a £Nil donation (2023 - £50,000) from and paid £428 (2023 - £314) of expenses to Yeovil Christian Support Trust. One of the trustees of Yeovil Christian Support Trust is married to Karen Hibbert.

At the balance sheet date the amount due to/from Yeovil Christian Support Trust was £Nil (2023 - £Nil).

Page 29