REGISTERED COMPANY NUMBER: 10286979 IEn8land and Wale51 REGISTERED CHARITY NUlaBER: 1170291 FTnandal Staternents for the Year Ended 31 December 2023 for One Churth Lelcester The Rowley Partnership Ltd Chortered Accountants Charnwood House Harcourt Way Merfdlan Business Park Lèicester LE19 1WP
One Church Lelcester Cohtents of thg Flnancial Ststements for the Year Ended 31 December 2023 Page Reference and administrative details Tru5tee5' report Report of Independent Auditors statement ol finanaal &tivitie5 10 Balanie sheet 11 ash Flow Statement 12 Nntw trt the Cash Flow Ststement 12 Note5 to the Flnanclal Statements 13-25 Detailed Statement of Financial Actlvities 26.27
One Church Lelce5ter Reference and admlnlstratlve detalls for the Year Ended 31 December 2023 TRUSTEES Rev D Hlnd {Minister of Religion) C Jewitt IHR Manager) Resigned 1511124 Rev J A Prestwich {MlnlstÈr of Religiow)) P A John (Retlredl A C Elton (Retired) F Okonkwo J Ower5 Appointed 1315123 Appointed 1511124 Appointed 1511124 REGISTERED OFFICE One Centre 10 Frog Islarmj Leicester LE3 SAG REGISTERED COMPANY NUMBER 10286979 IEn8land and Wales) REGISTERED CHARrrY MUMBER 1170291 INDEPENDENT AUDITOR The Rowleys Partnership Ltd Chartered Accountants Charnwood House Hèrcourt Way Meridian Business Park Lelce51er LE19 1WP
One Church Leicester Report of the Trustee5 for the Year Ended 31 December 2023 2023 Annual Report The rrustees who are a150 directors of the charity for the purpose5 of the Companies Act 2006, present their report with the financ>al statements of the charity for the year ended 31 December 2023. The Trustees have adopted the provisions of Accounting and Reporting by Charitie5.' Statement of Recommended Pract7ce applicable to charlties preparing thelr accounts In accordance with the Financial Reporting Standard applicable in the iJK and Republic of Ireland IFRS102lleffectlve 1 January 20191. The Ilnarncial statements have bpen prepared In accordance wth the accounting policies Sel out In the note5 to the accounts and comply with the charity's governing document, the Charities Act 2011 and Accountlng and reporting by Charitie5: Statement of Recommended PractTce applicable to charities preparing their account5 In accordance with the Flnancial Reporting Standard applicable in the UK and Republic of Ireland publlshed in Ortober 2019. OBJECTIVES AND ACTIVITIE3 Offlclal Objectlves • To advance thè Chrlstlan falth In accordance wlth the staremeni In su¢h ways and In such parts of the United KlngdoTn or the world as the churth leadership from time to time may thlnk fit. To relieve slckne55 aw)d financial hardship and to promote and preserve good health by the provision of fund5, goeds or services of any kind including through the provi51on of counselling and support Tn such parts of the United Kingdorn or the world as the church leader5hlp from tlme to time may think fit. To advance education in such ways and Tn such parts of the United Klngdom Dr the worl¢J as the church leadership fmm time to tlrne may thlnk flr. Publlc Benefit rer the maln activities undertaken to furter the charitys purposes for publlc beneflt, the trustees have had regard to the Chority Commission guidance on public benefit. Fundraising The charlty raises significant funds from the publTc but d5 not use any professional fundraisers. ACHIEVEMENTS, PERFOMNCE AND FUTURE PLANS 2023 wa5 an amaring year at One Church in whlch we walked in the blessing 4nd favour of God. We have seen Jesu5 Constantly at work throughout the year and we ore so grateful for His unmerited favour. It is our passlon to keep Jesu5 at the Cent of everythlng and His grace ha5 been evident In a deep way among us. I would like to ihank ¢)ur aft78 team who )long witl) Susan and I serve One Church and ils mlnistries. It has been humbling to see the Iledication from our Tru5tee5. Elder5, Senior Leadership Team, Staff and ihe dozen5 of One Church leaders ¥yho have given thelr all thls year for HIS glory. 2023 stretched us as a church and the response of the congregation has been humbling and inspiring. Our heart as a church is to Love God. Love People, Love H15 Misslon and Love His Church. This was displayed beautifully at our Nations Day in October when we celebrated 67 nationalities in Onè
One Church Lelcester Report of the Trustees for the Year Ended 31 December 2023 Church and 18 missions, people. organi5atlons and projects we ale privileged to support together, people of all ages, backgrounds and cultures lifling Jesus, experiencing H75 presence and walking together. In January we moved Into the new offlces at the One Centre, that had been developed at the end of 2022. and began the renovation of the resi of the building. The redemption of pledges from our incredible Vision Offerlng in 2022 alongside the selling of our HighfSeld5 building and wise financial management enabled us to open the One Centre in September with every bill paid - Glory lo God. It is an amazing centre that will be a blessing to One Church. the surrounding area. the body of Christ and the City of Leicester. The whole year was blessed: l. In January 2023 as we closed our main building we asked many people to move to another One Church Site or move into multiple services in No 12 Frog Island. We were alsu unable to gather together a5 a whole church for 8 months. The people of One Church were flexible and KinsdDm mlnded. Thank You so much. 2. During 2023 God also grew the house. A5 w6th any year we said goodbye to friends who moved away from Leicester but we also saw 249 new adults and children added to One Church a5 we grew to over 1200 pecple. Each of our 5 Lelcester sites were blessed and we are so exc?ted to plant a new One Church 5Tte in Loughborough in 2024. 3. 2023 Saw èr amazin4 year of flnancial glving at One Church.. Increased tlthes and offeAngs Re(iemption of pledges fr(Jm the 2022 Vlslon at over 90% Gfviny received from the 1023 Vision Offering Increased giving to Mission Increased 7nve5tment in Open Hands - including our Christmjs offerfng of over Over 17% of oui regular givinEt glven away to mi551ons, Open Hands, our denominatlon and those in need amons u5 4. Our thrivTng childrens, youth and young adults work impacted thousands of lives. Through community groups. schools work and midweek and Sunday groups we were able to make a difference, seeing many people find Jesus and be baptised. 5. Our ministry with seniors was further strengthened wlth the beginnlng of Adventurers for over 60's and Lovlns Later Life for over 70,5. 6. Prayer in One Church was also strengthened through the beginnlng of the Prayer Army. We are aware we can't do ar¢ything without Jesus at the centre and will further strengthen prayer In 2024. 7. Our amazing CoFnpas5ion CharTty Open Hands continued to make a deep impact in the city as It offered love, compasslon and practical help to thousands of people. It Is our honour to be H15 hands and feet. 8. The Oak CEntre, our Commun?ty Centre in graunstone, had another year of btesslng as It saw dozens of hFres. ran at a profit and impacted the lotal area.
One Church Leicester Report of the Trustees lor the Year Ended 31 December 2023 9. Way Coff&, based in the One Centre opened and was a huge blessing to the church and the local area. It is a Nyonderful coffee shop. 10. Our many wnall groups continue(I to be a place for famlly, discipleship and reachinft out and are at the core of our church. Small groups will be a rnajor focus in 2024. 11. We were also PTivileged to furiher lead and develop our work wlth other churche5 in Leicester. United Breakfast, United Kids and United Youth saw STgnificant numbers of people from many churches. In November we had our second Vision Offerin8 and over £325,IJOO was given and pledged. In 2024 this will be invested in 5lrengthening as we Plant again in 2024 strengthen Open Hand5 flntl God'5 heari for the development ol No 12 ffrog 151ènd Further.Impact Leicestershire through United Outwork further build7ng Work at the Oak Centrelone Centre BegTn to pay Llown the mortgage Stren¥then OUT reseryes As we yive thanks for 2023 Susan and l are full of faith and vi5i0n for 2024 and are certain that our best day5 are ahead. We are hOTrovd to lead this amazing church. David Hlnd Senior Leader Financial Review The account5 on pa%e5 10 . 25 summari5e the income and expenditure during the year ended 31 December 2023 and the state of the charity'5 affairs as at 31 December 2023. One Church Leicester's maln source5 cf funding were free will offering5 trom the church congregation thrDugh regular tlthes and offerings, an annual vision offering and Income tax recovered under the glft ald scheme. In addiiion One Church Leicester sold a property in order to generate funds to renr>vate the building at 10 Frog Island, Leicester. Reserve pollcy The reserves policy for One Church is to rnaintain unrestricted fund5. which are the free reserves of the church, to coyer three months of expenditure. This 15 in addition to flxed assets held and used for the Church's aims and pu¥p05es. Thi5 level of reserves should ensure that at any time of the year the Church Is not reqiJ7red to borrow funds on overdraft from its bankers. Any additional reserves are generated with a view to fund longer lerni projects. The trustee5 deflne free reserves a5 being total unrestrlcted current assets less current liabilities. The policy for unrestricted cash reserves set by trustee5 for 2023 was C140,OOQ. This policy will be reiqewed annually at the time of setting the budget for the forthcoming year. Free reseryes èt 31 December 2023 were £175,216
One Church Leicester Report of the Trustees for the YeaT Ended 31 December 2023 We malntalned restricted reserves atnountlns to £171,245 at 31 December 2023. Plan5 for Future Period5 The church continued to grow and flourish through 2023 and this 5Ttuation continues into 2024 with mamy stones of lives belDg touched and transformed. The numbers of people attending in-per50n across both morning 5ervke5 continued to increase. The financial position of the charity also remains Strong wlth the congregation falthfully redeemlng Vlslon pledges and with unrestricced tithes and offerings maintalnlng strong inflows, in line or ahead of budget plans. The focu5 for 2024 wll be one of 'Strengthening' 4cr055 multlple areas of One Church Leicester and the ministries that are supported. STRUCTURE, GOVERNANCE AND h14NAGEMENT Governlng document One Church Leicester is controlled by its soveming thcument Memorandum and Artlcles of $50ciation incorporated in 19 July 2019, a deed of trust, and constitutes a limited company, Ilmited by guarantee, as defined by the Companies Act 2006. David and Susan Hlnd are the Senlor leaders of One Church Leicester bringing leadershipy VlS?on and management. Our TrusteeslDirectors In Z023 were Phll John. Colin Jewitt, Andrew Elton Chair. James Prestwich and Davfd Hind and secretary James Prestwich, Sarah Hickman is the Finance Manèger. Recruitment and appointment of new trustees Where a replacement ls requiTed or it is deemed necessary to strengthen the team, the senior leader in discussion wSth the chair of tru5tee5, Mll nominate a potential new trstee who demonstrates the relevant experfence. 5kTlls and commitment. This nomlnation 15 then considered by the full board of trustees. New Trustee5 are provlded with coples of the memorandum and article5 of associatlon, latest accounts, recent minute5, details of roles & responsibilities, policies and 5uilable Charity Comrnission guidance. Risk managèment The trustees have a duty to idenlify and revlew the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance agalnst fraud and error. Trustees responsibllltle5 Statement The trustee5 Iwho are also directors ol One Church Leicester for the purposes of compary lawl are responsible for preparinq the Trustees Annual Report and the financial statements in accordance th appllcable law and United Kingdom Accounting Standards (Unlted Kingdom Generally Accepted Accounting Ptactlcel.
One Churth Leicester Report of the Trustees for the Year Ended 31 Decernber 2023 Company law requires the Iru5tees to prepare flnancial Statements for each financial year. Under cofflpany law the trustee5 must not approve the financial statements unle55 they are satisfied that they glye a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resourtes, Including income and expenditure. of the charitable company lor that period. In preparing these f*naF)cia statements, the trustee5 are required to- select suTrtable accounrin8 polides and them apply thèm cons?5tently' ob5ervÈ the methods and principle5 in the Charitie5 SORP2019 IFRS1021' make judgernents and estirnates that are reasonable and ptudent. 4 State wliethei- applicable UK Accounting standards have been followed., prepare the fin3nclal statements on the going concern basi5 unless it is inappmpriate to presume that the charitable company will contlnue in operation. The trustees are responsible for keeping adequate accounting records that disc105e with reasonable accuracy at any time the financlal position of the charitable company and enable them to ensure that the financlal statement5 comply wth the Companies Act 2006. They are also resp0Ths7ble for safeguarding the assets of the charitabte company and hence for taklng reasonable steps lor the prevention and detection of fraud and other Irregularities. In so far a5 the trustee5 are aware., there 15 no relevant audit informatlon of whlch the charitable company'5 auditor is unaware.. and the trustee5 have taken all steps that they ought to have taken to make themselves aware of any relevant audit Information and to e5tablFsh that the auéitor is aware of that information. This report has been prepared in accordance with the special provision5 of Part 15 of the Companles Act 2¢)06 relatlnq to small companles. Approved by order of the board of trustees on ,12y and signed on its behalf by- Andrew Elton Cha?r of Tru5tee5
Independent Audltor's Report to the Trustees of One Church Leicester Opinion We have audlted the financial statements of One Church Leicester (the 'charitable company'l for the year ended 31 December 2023 which comprise the Statement of Financial Activltie5, the Balance Sheet, the Cash Flow Statement and notes to the financial statement5, including significant accounting policies. The financial reporting framework that has been applied in their preparation 15 applicable law and United Kingdom Accounting 5tandard5, including Financial ReF)orting Standard 102 The Finoncicl Reportlns Standord applicable in the UK dnd Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair wew of the state of the charitable company's affairs as at 31 December 2023, and of it5 incoming resources and applicatlon of resources, illcluding its income and expenditure. for the year then have been properly prepared in accordance with United Kingdom Generally Accepted Accountlng Practice; and have been prepared in accordance with the Tequirements of the Charitie5 Act 2011. Basis for oplnlon We conducted our audit in actordance with International Standards on Auditing IUKI IISAS ILIKII and applicable law. Our responslbilities under those standards are further described in the auditor re5ponsibilitie5 for the audit of the financial statements Section of our report. We are independent of the charitable company In accordance with the ethical requlrernent5 that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfllled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained 15 sufflcient and appropriate to provide a basTrs for our opinion. Conclusions relatlni to loing ¢oncern In auditlng the financial statements, we have conclLtded that the trustees. use of the 807ng concern basis of accounting in the preparation of the financial statements is approprfate. Based on the work we have performed, we haye not identified any material uncertainties relatlns to events or conditions that, individually or ¢ollectively. may cast significant doubt on the charitable company's ability to contlnue as a going concern for a period of at least twelve months from when the financial statements are authorfsed for issue. Our responsibllities and the responsiblllties of the trustees with respect to going concem are described in the relevant 5ectlons of this report. Other Information The other informatlon comprises the information Included in the trustee5 annual report, other than the financial statements and our auditor'5 report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financlal statement5 does not coyer the other information and, except to the extent otherwise explidtly stated In our report, we do not express any fom of assurance concluslorn thereon. Our respon5ibilily is to read the other Tnformation and, in doing so, consider whether the other information 15 materially incon51Stent wth the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially rnisstated. If we identify such materlal inconsistencies or apparent material mT5Statements, we are required to determlne whether thls gives rtse to a material misstatement In the financial statements themselves. If. based on the work we have performed, we conclude that there 15 a materlal misstatement of thi5 Other information. we are required to report that fact. We have nothing to report in this regard.
Independent Audltor's Report to the Tru5tee5 Of One Church Lelcester Matters on whlch we are requlred to report by exceptlon We have nothing to report in respect of the follovling matters in relation to which the Charilies (Accounts and Reports) Regulations 2008 rcquire us to report to you if, in our opinion.. the information given in the financial statements is inconsistent in any material respect with the tru5tee5' report. or sufficient accounting records have not been kept,. or the financial statements are not in agreement with the accounting reoord5 and returns; or we have not received all the information and eKplanations we require for our audit. Respon$lbilitie5 of trustees As explained more fully in the trustees. responsibilitie5 Statement, the tru5tee5 are responsible for the preparation of the financial statements and for be?ng satisfied that they give a true and fair view, and for such internal control as the trustèes determine is nece55ary to enable the preparation of financial statement5 that are free from materfal misstatement, whether due to fraud or error. In preparlng the financial statements, the trustees are re5pon5ible fDr assessing the charitable company's ability to continue as a golng concem, disclosing, as applicable, matters related to going concern and using the golng concern bas15 of accounting unless the trustee5 ejther intEnd to liquidate the chantable company or to cease operations, or have no realistlc alternative but ro do so. Audltor re5ponslbllltles for the audit of the flnanci)I statements We have been appointed as auditor under section 144 of the Charftles Act 2011 and report In accordance wlth the Act and relevant regulatiorb5 made or having effect thereunder. Our objectives are to obtaln ieasonable assurance about whether the financi31 statements as a whole are free from material misstatement, whether dve to fraud or error, and tD 155ve an auditor's report that irbcludes our oplnior). Reasonable assurance is a hTgh level of assurance, but 15 not a guarantee that an audit conducted in accordance with ISA5 (UK) will alway5 detect a material misstatement when It exists. Misstatements can arise from fraud or error and are considered material if, Individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these flnancial 5tatement5. IrregulBrltles. includlng fraL.d, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of Irregularitie5, including fraud. The extent to which our procedLrres are capable of detecting Irregularities, 7ncluding fraud is detailed below: We obtained an understand7ng of the legal and regulatory frameworks that are applicable to the charftable company's and deterrnined that the most significant whlch are directly relevant to specific assertions in the financial statements are those related to the financial reporting framework5 (UK Generally Accepted Accounting Practice, the Charities Act 20111 and the relevant tax compliance regulations in the jurisdiction in which the charitable company operates. We enquired of Tnana8ement, whether they were aware of any instances of non-compllance with laws and regulations or whether they had any knowledge of actual, suspected or alleged fraud. We assessed the 5U5ceptibility of the entity's flnanclal statements to materlal misstatement, including how fraud might occur; Our testing considered unusual or unexpected journal entries on a sample basis- We evaluateé the assumptions and judgements used by manaqement withln Significant accounting estlmates and asse5Sln8 if these ind5cate evidence of management b7as; We tested significant transactlOll5, in particular the evaluation of the business rationale for any which appear unusual or outsiée the charity's normal course of business., We assessed the appropriatene55 of the collective competence and capabllTties of the engagement team by understanding the practical experience with audit engagement5 of a similar nature and complexity. plus
Independent Auditor's Report to the Trustee5 Qf One Church LeTce5ter ensunng the team had appropr7ate and relevant training of the financial reporting framework and the relevant tax compliance regulations specific to the entity. We rewewed the financial statements and tested the disclosures against supporting docL,'mentation,' and We communicated relevant matters to all members of the audit team to eisure they understood the risks specific to the entity and the aud?I procedures planned to mitigate these. Because of the inherent limitation5 of an audit, there 15 a risk that we VAII not detect all irregularities, including those leading to a material misstatement in the linancial statement5 or non.compliance with regulation. Thi5 risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial Statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurrlng due to fraud rather than error. as fraud involve5 Intentional concealment, forgery, colluslDf), omission or misrepresentation. A further description of our responsibilities is available on the FRC'S website at.. htt IlvMw.frc.or .ukl uditors/audit-a55vr cela dit r.s-re5 nslbilities- he-audil.of. This description forrn5 part of our auditor's ", eporl. h -fildescri Use of our report rhis report is made solely to the charftable company'5 trustees, as a body, in accordance with Part 4 of the Charities IAccounts and Repo)rtsl Regulations 2008. Our audit work has been undertaken 50 that we might state to the charity's trustees those matters we are required to State to them in an aLthdit¢r's report and for no other purpose. To the fullest extent permitted by law, we oo not accept or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a body, for our audit work, for this report, or for the opinion5 we have formed. L.-I,*6 LJ The Rowley5 Partnership Ltd Statutory Auditors Chartered Accountants Eligible to act a5 an auditor in terms of Section 1212 of the Companies Act 2006 Charnwood House Harcourt Way Merldlan Bvslness Park Leicester LE19 1WP Date: 23 2014
One Church iCeSter Statement of Flnancial Activltles {Incorporatins an Income and Expendlture Account) for the Year Ended 31 December 2023 Note Unrestrlcted Fund5 Restricted Funds Total Funds 31.12.23 Total Funds 31.12.22 Income and endowments from DonatlOn5 and legaaes 846,050 505,094 1,351.144 1.004,750 Other trading activities Investment Income Other Income 95,741 85,(X)3 89.935 95,741 85,003 89,935 81,208 33.085 18,000 Total Income and endowment5 1,116,729 505,094 1,621.823 1.137,043 EXPENDITURE ON Charftable artiyitie&' Minlstrles Giving away 113,958 90,570 113,958 182,202 85,081 141,422 91,632 Other 824,72B 1.885 826,613 609,692 Total èxpendlture 1.029,256 93.517 1,122,773 836,195 NEf INCOMEIIEXPENDITUREI 87,473 411,571 499,050 3C(),848 Gain on acquisitlon Transfers betWn fund5 768.263 21 943,940 1943,9401 Net movement between funds 1,031,413 1532,3631 499,050 1,069,111 Reconcillation of funds Total funds brijught forward 1,361,994 703,60B 2,065,602 996,491 Total fund5 carrled forward 2,393,407 171 245 2,564,652 CONTINUING OPEPATIONS All income and expenditure has arisen from continuing activities. The notes on pages 13 to 25 forni part of these financial statements. io
One Church Leicester IResi5tered number: 10286979) Balance sheet as at 31 December 2023 31.12.23 31.12.22 Unrestrlrted Funds Restricted Fund5 Total Funds Total Funds Notes Fixed Assets Tangible assets Investment Property 13 14 2,518,006 530,(J)O 2,518,006 530,C¥)O 1,495,157 530,CQO Current Assets Stocks Debtors Cash at bank and in hand 3,456 147,596 144,452 295,504 3.456 147,596 315,697 466.749 15 49,550 540,838 590,388 171,245 171,245 Cred5¢or> Amounts falling due within one year Net Current Assets 1120.2881 175,216 3,223,222 1120.288 346,461 3,394.467 {81,467 508,921 2,534,078 171.245 171,245 Total A55et5 less Current Liabllldes CREDITORS Amount falling due after more than one year 1829,8151 1829,8151 2, 393,407 45 2,564,652 171, 1468,4761 2,065,602 Nrr ASSErs Fund5 Unrestricted funds Restricted funds Total Funds 21 2,393.407 171,245 2,564,652 1,361,994 703.608 2,065,602 The charftable company is entitled to exemption from audit under Section 477 of the companies Act 2Q106 for the year ended 31 December Z023 The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statement5, The trustee5 acknowledge thelr responsibil?tie5 for al ensuring that the charitable company keeps atcounting records that comply wth Sections 386 and 387 of the Companies Act 2(X)6 and Ibl preparing finathcial Statements which give a true and fair view of the state of affairs of the charitable company at the end of each financial year and of iti surplus or deficit for each financial year in accordance with the requirements Df Sections 394 and 395 and which otherwse comply with the requirements of the Companies Act 2006 relating to fTnancial statements, so far a5 applitable to the charitable company. These financial statements have been prepared in accordance wth the provisions applicable to charitable companies subject to the smoll companies regime. The financial stal ments were approved by the B03Td of Trustees and authorised for issue on d on its behalf by. Philip John- Trustee The notes on pages 13 to 25 fo financial statements.
One Church Leicester Statement of cash flows for the year ended 31 December 2023 Year endèd 31.12.23 Year ended 31.12.22 Note Cash flow from operatlnl actfvltles Cash flow frorn operatTng actlvlties Net cash provlded by operating act]tIeS 454,705 454,705 1,139.691 1,139,691 Cash flow from Investing actlwties Purchase of tangible fixed atsets Sale of tangible fixed a5set5 Assets acquire# from All Nat?on5 Church Leicester Interest recelved (1,633,954) 596,217 {332,474) 330,300 11. 137,2771 913 5,428 Net cash (used inllprovlded by Investin% actlvltle5 Cash flows from finandng actlvlties Movement in loan5 Interest Paid 11,032,309) 11,138. 5381 398.355 145.8921 392.434 119,237) Net cash (usod Inllprovldcd by financing actlvltles 352.463 373.197 Change in cB5h and cash equivalent5 in the reportlns perlo Cash and cash equivalents at the besinning of the reportin8 pertod Cash and cash equivalents at the end of the reportlng period 1225,1411 540,836 315.697 374,350 166,488 540,838 1 RECONauATION OF NET INCOME TO NET CASH FLOW FROM OPERATSNG ACTivrriE5 Net income for the reportin4 pèriod (a5 per the Statement of Flnandal Actlvltles) 31.12.23 499,050 31.12.22 1,069,111 Net movements In funds AdJustmetit5 for: Profit on disposal cf tan4Sble fixed assets Depreciation charges Interest received Interest paid IlncreaseTr in stocks Ilncreaselldecrease in debtors Increasel Idecreasel in creditor5 Net cash (used in)1 provlded by operation5 189,9351 104,823 15,428 45,892 3,456} {98,046} 1,805 454 705 31,167 1913) 19,237 14,3221 25,411 1 139 691 2 ANALYSIS OF CHANGE5 IN NET FUNDS At 1.1.23 Cash flow At 31.12.2J Net cash Cash ot bank and in hand 540,838 1225,1411 315,697 Total 225 141 315 697 Debt Debts falling due within 1 year Debts falling due after l year 129,961 ? 1468,476) 1498,4371 42,4DI 137.016 {361.339) 1398,355 (623,4961 166,9771 (829,815) 1896,792) 1581,0951 Total
One Church Leiiester Note5 to the flnanclal statements for the year ended 31 December 2023 1 ACCOUNTING POLICIE5 Basls of preparlng the flnanclal statements The flnancial statements of the charitable company, which is a public benefit enuty under FR5102, have been prepare(i in accordance with the Charities SORP IFR5102I 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to chaiitie5 preparing their accounts in accordance Mth the Finantial Reporting standard applicable in the UK and Republic of Ireland IFRS1021 leffectr've 1 January 2019),, and the Companies Act 2006. The financial statements have been prepad under the historic cost conventioh, with the exception of invèstments which are Tncluded at market value. One Church Leicester Is a private company limited by guarantee registered in England and Wale5. The addr&s of the registered office 15 given in the charity infomiation on page 1 of these financial statements. The significant accounting policles applied in the preparatlon of these flnancial statements are Set out below. These policies have been consistently applled to all years presented unless otherwise stated. Income All income Is recogn7sed in the Statement of Flnanclal Activities once the tharity has erbtltlernent to the fId5. It Is probable that the income will be received and the arnount can be measured rellably. For le8acie5, entitlement 15 the earlier of the chariiy beTng notified of an impending distribution or the legacy being received. At this point 1ncome 15 recognised. On occasion legacies will be notified to the charlty however It is not possible to measure the amount expected to be distributed. On these occaslons. the IacY 15 treated as a contingent asset and disclosed Expenditure Liabilities are recognised as expenditure as 500n as there is a legal or constructlve obligation committing the charfty to that expenditure, it 15 probable that a transfer of econownic benefits wll be requifed i settlement and the amount of the obllgatlon can be measured reliably. ExpendltLre is accounted for on an accnJa15 basls and has been Clasfied under hea(I"ngs that aggregate all c05t relating to the category. Where cost cannot be directly attributed to particular heading5 they have been allocated to activitles on basls consistent with the use of resources. Tangible flxed assets It Is policy that rnonies received relating to buildlng and capital projects are transferred to unrestricted funds once the buildifTrg worf(s and projects have been achle¥ed. Depreation is proded at the following annual rates In order to write off each asset over its estimated useful life. Church Eoulpment Way Coffee fixtures and f?ttings Improvements to property Freehold property Investment property Investment properties are shown at their open market Yalue. Any revaluation galn5 or loss are taken to the Statement of Financial Artivitie5 ISOFAI 15% on redudng balance 15% on reducing balance Calculated over 30 years at C05t 2% on cost
One Church Leicester Note5 to the flnancial 5tatement5 for the year enéed 31 December 2023 1 ACCOUNTING POLICIES ICONT114UED> Taxation The charity is exempt from corporation tax on its charitable activlties Fund Accounting Unrestricted fund5 can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds represent income and can only be used for particular restricted purposes within the objetts of the charity. Re5ttictions arise when Specified by the donor or whe funds are raised for paiticular restrrcted purposes. Further explanation of the nature and purpose of each fund 15 inClud in the notes to the tinancial statement5. Hlre purchase and leasin4 commitrnents Rentals paid under operating leases are charged to the Staternent of Financlal Activities on stralqht line ba515 over the period of the lease. Pension Cost5 and other post retirement benefits The charity operates a defined contribution pensiC 5therne. Contributions payable to the charitable company's pension 5cherne are charged to the Statement of Financlal Activities in the period to which they relate. Debtors and credltor5 receivablelpayable wlthln one year Debtors and credltors are stated at transèrtion price. Cash and cash equiYalent5 Cash and cash equivalents comprise cash on hand and cash on deposit. Golllg Concern The financial statements have been prepared on a golng concern basis as the trustees believe that no materlal uncertainties exist. The trustees have considered the level of funds held and the expected level of income and experKliture for 12 months from authorising these financial Statements. The budgeted income and expenditure u5 sufficient vrith the level of reserves for the charity to be able to continue as a going concern. Stocks Stocks are st£1ed at the lo%v81 of cosl and estimated selllng price les5 costs to wmplete and sell. Cost includes all costs of purchase, costs of convarsion and other costs incurred in bringing stock lo ils present Ioc81ion and condllion. Cost Is calculated using Ihe fir5t-in, first-oul formula. ProvisSon Is made for damaged, obsolete and slow-moving stock where appropriate. 14
One Church Lelcester Notes to the flnanclal Statements for the year ended 31 December 2023 2 DONATIONS AND LEGACIES Year ended 31.12.23 Year ended 31.12.22 Legacies Regular Giving Gift ald Grants Mission Income Restricted Glving BLJlldlng Fund Vislon fu1 91.317 651,413 103.321 25,648 34.818 30,528 233,769 180,330 28,311 482,886 90,179 39,127 11,627 351,620 Of total incorne from donations and1(leS £846,050 (2022: £601,375) was unre5trirted and £505,09412022: £403, 3751 was restrlcted. 3 OTHER TIIADING ACTIVITIE5 Year ended 31.12.23 YeaT ended 31.12.22 Activities and clubs Oak Centre Way Coffee 3,938 66,695 25,108 3,338 77,870 Of total incorne from other tradTng activitie5 E95,741 12022.. £81,208) was unrestricted and £Nil 12022: £Nill was restricted. 4 INVESThlENT INCOME Year ended 31.12.23 Year ended 31.12.22 Rent received Rent recelved No 12 Deposit account interest 28,969 50,606 5.428 17,500 14.6n 913 85,003 33.085 Of total Income frcffi investments £85,003 12022- E33,0851 was unre5trlcted and £Nil12022'. £Nil) wa5 restrfjcted. 5 OTHER INCOME Year ended 31.12.23 Year ended 31.12.22 Proflt on disposal of fixed assets Other income 89,935 18,000 18.000 89,935 Of tolgl other income £89,935 (2022: £18,000) was unrestricted and £NiI 12022: £Nill Was reslricled. 15
Ont Church Lelcester Note5 to the flnanclal statements for the year ended 31 December 2023 6 CHARITABLE ACTIVITIES COSTS Dlrect Costs {5ee note 7) Mlni5tries Glvlng away 113,958 182,202 296,160 7 DIRECT COSTS OF CHARITABLE ACTIVITIES 31.12.23 31.12.22 Mlnistrie5 Glvlng Away - individuals Giving Away - Instltutions 113,958 34.665 147,537 85,081 29,167 112,255 296.160 226,503 Of the total amount given to TndTviduals £23,98412022: £25,285) was unrestricted and £10,68112022: £3,882) was restrlcted Of the total amount given to inslitutions £66,586 12022: £10,0IZI wa5 unrestricted and £80,95112022: E122,715I wa5 restricted 8 OTHER Included In the Other expenditure is as follows 31.12.23 31.12.22 Unie5trirted Restrlcted funL1s funds Unre5trirted Restncted funds funds Total Funds Total Funds Wages & Salaries Project C05t5 Other operating ex5 Finance c05t5- bank charges Governance cost5- audit fee5 Goyemance cosrs- legal fees 464,734 70,712 266,337 464,734 71,195 267,539 395,254 30,851 147,192 395,254 30,851 147,192 1.202 5,040 3.749 3,749 16,156 16,156 10,(KJO 10,C 1,749 1,749 22,646 22.646 826 613
Qne Church Leicester Notes to the financlal statements for the year ended 31 December 2023 8 OTHER (CONTINUE0} lficluded in the aftalysis above 15 expenditvre rèlating to the Oak Centre as foUow5: 31.12.23 31.12.22 Wages ial securlty Pens15 Repairs. cleanin8 ar)d maintenan 22,543 746 1.227 16.511 23.505 1,309 1,491 13,655 FIJ Caterinq Project Costs Office expenses Telephe and IT costs Insurance Bank charges 1.942 4.905 3,057 437 817 593 1,14Q 9,252 3,522 399 796 52,778 55,553 9 NEf ItrlCOMEI{EXPENDtfuRE) The total fee pa7d to the auditor was £13.2Crf) Inclu51ve of Yat12022: £12,IKJO TnclusTve of vat) which was for the auélt and £Nil12022- ENill for other services. 47
One Churth Leicester Notes to the finandal 5tat8ments for the year ended 31 December 2023 fo TRUSTEES. REMUNERATION AND BENEFITS The folltNvlng trustees received emoluments durTng the year. They are paid in their capaaty as minis(er5 of the Church for which the legal authority is wven in the Articles of association. 2023 2022 D Hllld Remuneratlon for min75try support Pension contrlbutions Benefits in kind 48.587 4.830 2.496 45.831 5,500 2,472 55.913 53.803 J Prestwlch Remunerailon for ministry supp(Yt Pens17 Covttributlons 34.9 1.70J 32.080 35,709 33,684 Trustee5' expenses There were no trustees. expenses paid for the year eTrdecJ 31 December 2023 nor for the year ended 31 Decetnber 2022. Year ended 31.12.23 Year ended 31.12.22 11 STAFF COSTS Salaries and wages s181 5ecurTty costs Pensic4) Costs 401,219 22,653 40.862 340,591 17,952 36,711 464.734 395.254 The average number t)f persons employed by the charity durlng the year was as follows: 31.12.23 Number 27 31.12.22 Numbe 25 Total nurnbtr of staff No employee5 received iotal employee benefits (excluding employer pension cost51 of more than E60.0tsJ.
One Churth Lelcester Notes to the flnanclal 5tatement5 for the year ended 31 Dècember 2023 12 COMPAIUTIVES FOR TIIE STATEMENT OF F114ANCIAL ACTIVITIES Unrestrtcted Funds Re5trlcted Funds 2022 Total Funds INCOME AND ENDOWMENTS FROM Donations and legacies 601,375 403,375 1,004,750 Other trading artiwtles Investment income Other 81,208 33,085 18,000 81,208 33,085 18,¢XIO Total 733,668 403.375 1,137,043 EXPENbiTURE ON Charltable activitles Mlnlstries Glving away Other 85.081 14.825 609,692 85,081 141,412 609,692 126, 597 Total 709,598 126,597 836,195 NET INCOMEI{EXPENDITURE) 24,070 276,778 300,848 Goln on acqui31tlon Transfers between funds 763.807 1385,1191 4,456 385,119 76B,263 Het movement In funds 402,758 666,353 1,069,111 RECOMCILIATIOM OF FUNDS Total funds brought forward 959.236 37,255 996.491 TOTAL FUNDS CARRIED FORWARD 2 065 602
One Church Leicester Note5 to the financlKI statements for the year ended 31 December 2023 13 TANGIBLE FIXED ASSETS Improvements to property Freehold property Way Flxturgfj & Fittings Church Equlpment Total COST At 1st January 2023 Addirions Di5P05als At 315t December 2023 310.B46 1,557,042 1,107,285 166,196 57.845 {450} 223,591 1.584.327 1.633,954 1506,2821 2,711. 19,007 1505,832) 601.4 DEPRECIATION At I st January 2023 Charge foi the year At 31st December 2023 10,362 62,263 72,62 4,010 12,029 16,039 74.798 29,241 104,039 89.170 104,823 193,993 1,290 1,290 BOOK VALUE At 31st December 2023 1,795,263 585,414 17.777 119,552 2.518.6 At 315t December 2022 300,484 1,103,275 91,398 1,495,157 Capltal commitment5 At the year end, the charity had capital commitment5 of £NII {2022-. £IZ1,7131 14 INVESTMENT PROPERTY 31.12.23 31.12.22 mark value at 1 January 2023 Acquired frcm All Nations Church Lelcester Market value at 31 Oecember 2023 530,CIJO 530.( 530.LYQ 530,fAIO The orfginal cost of the above investment property at 12 Frog lsLand, Lelcester was £530,Cl). A formal valuation wa5 carried out on 26 April 2022 by Mu550n Li98lns. The trustees conslder that the valuation as at 31 December 2023 is falrly stated. 15 DEBTORS: AMOUNTS FALLING DUE MTHIN ONE YEAR 31.12.23 31.12.22 Trade debior5 Other debtors Prepayments and accrued income 28,731 104,202 14,663 147,596 19,210 15,772 14,568 49.550 gn
One Church Leicester Notes to the f?nanclal statements for the year ended 31 Deceniber 2023 16 CREDITORS: AIAOUNTS FALLING DUE wfTHIN ONE YEAR 31.12.23 31.12.22 Bank loans and overrjrafts I5ee note 191 Trade creditors Social security and other taxes Other creditors Accrued Expenses 66.977 12.468 10.896 10,439 19,508 29.961 21,463 5,163 5,639 19,241 17 CREDITORS: AMOUNTS FALLING DUE AFfER AIORE THAN ONE YEAR 31.12.21 31.12.22 Bank loans and overdrafts {5ee note 191 829,815 468,476 829. 15 468,476 18 LOANS An analysis of the maturity of loans ia given below.. 31.12.23 31.12.22 Amounts falllng due within one year on demand: Bank loans 66,977 29,961 Amounts falling dLte between one and two years: Bank loans - 1-2 years 66,97T 32.465 Amounts falling due between two and flve years.. Bank loan5 - 2-5 years 21x1.931 97,395 Amount5 fallln8 due In more than five years: Bank loans - rnore than 5 years years 561.907 338,616 19 LEASING AGREEMENTS Minimum lease payments under non.cancelLable leases fall due as follows 31.12.23 31.12.22 Withjn one year Between one and five year5 239 475 239 239 714 20 SECURED DEBTS The following secured debts are incluéed within creditors: 31.12.23 31.12.22 Bank loans 896,792 498,437 The bank loan is secured on the propertles at 10 and 12 Frog151and
One Church Leicester tlotes to the flnjnclal 5taternents for the year ended 31 December 2023 21 MOVEMENT IN FUtr4DS Net mtwem•nt in fund5 Transfers between fund5 At 1.1.23 At 31.11.23 Unrestrlcted fund5 General 1,361.994 87,473 943,940 2.393,407 7,473 943, ,393.407 Restricted fuThd5 Bullding fun¢J Misslons Grant5 Specilic Giving Ukraine Appeal - ANCL Michelle Arthur ANCL Open Hands Blessln8 Fund Iwldows & Orph£ns - ANCLI Family larder - ANCL Commurtiiy 11%} Fund - ANCL Vision Offering 688,641 9,714 233,769 19,714> 21,763 863 (922,4101 {21,4701 250 1,293 862 12511 200 110 48 12,6871 2,639 1,507 511 2.128 11,5071 15111 2.f281 169,090 169,090 703.608 411,577 1943,9401 171,245 TOTAL FUNDS 2,lJ65,002 499,050 2,564,652 Net movement in funos, included In the above, are as follow5-. IncIng Re5(iurces Resources expended M(ryement in lund5 Unr•strlcted fund5 General fund 1,116,729 1,029,256) 87,473 Restrlcted funds Building Fund Change One Missions Grants Specific Glving Open Hands Blessing Fund Vi5i0n Offering 233,769 28,393 6.425 25.648 20,722 8.681 1,126 180.330 505,094 233,769 {28,393 (16,1391 13,8851 119,8591 111,3681 12,6331 11.2401 193.517) 19,714 21,763 863 12.6871 11,5071 169,090 411.577 TOTAL FUNDS 1,621.823 11, 122.773) 499.050 ??
One Church Lei¢e5ter Note5 to the flnancial ststements for the year ended 31 December 2023 21 MOVEAIEklT IN FUNDS ICOMTINUED) Re5trfcted funds Bulldiny fund Funds recelved 5pecifTcally to as5iSt wlth renovating 10 Frog Island. Fund5 were transferred from the general fund to enable the work to be completed. M1s5ion fund Fund5 glven Specifically for rnissitsn can only be Spent lor m155ion Warm Welcome Spaee and LCC Ward Finance grants The Wam Welcome Space gran., has been $5ven toward5 utiitfes at the Oak Centre and the LCC Ward Finance grant has been given toward5 the Oak Centre Pie LurKh project Specfflc Glvlng Included ln Speclfic Ovlng is £614.92 to The Hub chlldrens work, É250.lYJ to Heaven Culture Muslc and £7.50 for work In the Ukraine Vlsk*n Offerin¥ Fund received speafically to 5trenthen 7 areas of One Church. These are the Loughborough Site, Open Hands, God5 heart for no. 12, impact Leicester through United, further bullding need5, paying down the mortgage and strengthenlng our reseryes. Transfe15 betweèn funds Transfers were made from gront5 and speclfii glving to unrestricted funds which repsent capital expendlture aquired for general use and not for a Te5tricted purpose. The Ukralne Appeal and All¢hÈlle Archur fund5 acqulred from ANCL were transferred to 5peclfic giwpg to be spenl on the purpDses specified. The Farnlly Larder and Community11 %} Fund acquired from ANCL were transferred to the Open Hands Fund as they were glven for similar purposes a5 Hand5 Comparatlves for movement In funds Net movement In fund5 Transfers Gainlllosses) between on funds acquTsltion At 1.1.22 At 31.12.22 Unrestrieted Fundi General 959,236 959.236 Z4.070 24,070 (385,119) 1385,1191 763,807 763,807 1,361,994 1,361,994 Restrlcted Funds Bullding fwld Misslon5 Grants Specific Giving Open Hands Widows & Orphans . ANCL Farnily Larder - ANCL Community 1% Fund- ANCL Ukralne Appedl . ANCL Michelle Arthur - ANCL 28,569 8,686 321,487 145,5061 338,585 46.534 688,641 9,714 1,CQD {2511 48 1,507 511 2,12b (2511 1,507 511 2,128 200 110 110 37,255 996,491 276.778 3(,848 385,119 4,456 768,263 703,608 2,065,602 TOTAL FUNDS
One Church Leicester Note5 to the flnancial statements for the year ended 31 December 2023 t MOVEhiEli i ili Fulius IVil i irYucDI Comparative net movement in funds, included in the above are a5 follows: Incomln8 resources Resources Movement In expended funds Unre5trTCted fur7ds General fund 733,668 (709, 5981 24.070 Rertrlrted funds Bulldlng fund Mlsslons Grant5 Speclfic Glvin8 Open Plands Building Open Hands 351,620 39,127 1.O)0 3,831 513 7,284 30,1331 84,633 321,487 145,5061 4,082 15131 17,2361 12511 48 403,375 1126,597) 276,778 TOTAL FUNDS 1,137,043 1836.1951 300,848 24
One Church Lelcester Notes to the financlal staternent5 for the year ended 31 December 2023 22 RELATED PARIY DISCLCSURES Ouring the year £113,17912022: £98,7871 of donati0115 weie received without condition5 from truslees. Two of the trustees also serve on the boartl of Open Hands Trust ILeice5terl (Registered Charity No. 1121334) ard durirjg the year One Church Leicester made a £43,99412022: £31,351) donat?on to this charlty. Also during the year costs ol E18,757 {2022: £19,463) have been recharged to Open Hands Trust ILeicesterl In relation to admin5stratlon and aCCOLgnts costs. At the end of the year, Open Htnds Trust owed £5.09812022:E6,2481 to One Church Leicester. Hand in Hand Preschool who are part of Opèn Hands Trts5t paid rent of Q8,8OJ (2022.. U8,8LhJl to One Church Le1ter One of the trustees is also a tnjstee (>f Legacy Minlsiries International, During the year One Church Leicester charged Legacy Ministries Internatlonal £2,LKKI I2022.'LNill for venue hire. One of the tru5teÈs is also a trustee of The Safffres Project. During the year donations of £1,2C 12022:£1,2tX)I were made to The Saffires Pioject. One of the tru5tEe5 also served on the board of All Nations Church Leicester (No.511127} and during the year costs of £NII 12022: £18,(1) wete recharged in relatic lo admTnistration and account5 costs to thi5 charity. The a55ets and liab111tie5 of All NatlOn5 Church Leicester were transferred to One Church Le1cester 19th August 2022. and this charity has 51Dte beeft d155olved. 25