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:
- To advance the Christian religion and in particular to support the work of Yeovil Community Church (‘the Church’) in its various facets both in and around the area of Yeovil, Somerset and such other areas as may be deemed appropriate from time to time, including overseas.
- To advance the Christian religion in any part of the world.
- To advance religious education in accordance with the doctrines and principles of the Christian faith both to adults and children irrespective of race, sex, creed or colour.
- To apply the income of the Charity in maintaining the up-keep and repair of the fabric of any buildings utilised by or in conjunction with Yeovil Community Church and the maintenance of the services in any such building or buildings.
- Charitable purposes for the general benefit of the inhabitants for the town of Yeovil, Somerset or for such other areas in which Yeovil Community Church may work from time to time as the Trustees may think fit.
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;
- Sunday morning services – services are run weekly throughout the year to encourage worship, prayer and teaching. This includes the provision of online streaming to reach a wider audience and to ensure the services are accessible to everyone.
- Coffee shop – our coffee shop is open to the general public during the week. It provides a range of hot food, cold food, drinks and cakes available to be purchased.
- Youth Groups and Children’s work – provision of mentoring, youth groups, children’s teaching material and community connection has been provided throughout the year.
- Create – every year, volunteers form a Create team who provide worship material, youth and children’s work, mentoring and media material among other things. This team participates actively in the Church community as well as in the general community.
- The Roost – provision of support to the Homeless community.
Page 3
## **Yeovil Community Church**
## **Trustees' Report (continued)**
- The Welcome Hub and Resettlement support – provision of support to those who have moved to the UK.
- Yeovil 4 Family (Y4F) – provision of programmes to offer support for families both locally and nationally. We believe this is fundamentally important for local and national community.
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;
- Becoming a community where Jesus is wholeheartedly worshipped, deeply experienced and clearly known;
- Praying and creating space for renewal in ourselves and our communities;
- Seeing the tide of relational breakdown turned wherever we serve;
- Resourcing the wider church to bring about Kingdom Transformation
- Living generously, challenging the cultures and systems that create injustice, and actively loving those affected.
The Charity achieved the following during the financial year;
- We continued to provide online services as well as face to face. The online content is being watched regularly on a weekly basis and we feel that our accessibility is increased with this provision. We provide a family service every month which encourages new people to attend and introduces them to the Christian faith.
- We have developed our building throughout the year including the development of our security
- systems.
- The Create team continued to cover children’s work, youth work, AV and worship.
- The Welcome Hub continued to provide a safe and welcoming environment for Ukrainian families and
- hosts.
- Y4F supported many families including adults and children during the year in a revised programme. developed since the loss of the council funding and the commencement of lottery funding.
- The Roost continued to provide a safe and welcoming environment for our homeless community.
- Our youth, children’s and families’ programmes continued during the year.
- Our 18-30’s age group continued to increase and build relationships whilst exploring and developing
- their faith.
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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
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:
- The donor specifies that the grant or donation must only be used in future accounting periods; or
- The donor has imposed conditions which must be met before the charity has unconditional entitlement.
## _**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