REGISTERED COAIPANY NUMBER: 10286979 (England and Wales) REGISTERED CHARrrY NUMBER: 1170291 Flnancfal Statemerrts for the Year Endèd 31 December 2024 One Church Lelcester The Rowley Partnershlp Ltd Chartered Accountants Charnwood House Harcourt Way Alerldlan Buslness Park Lefcester LE19 IWP One Church Lelcester Contents of the Ffnancial Statements for the Yèar Ended 31 December 2024 Reference and admfjnistrative detafls Trustees. report Report of Inde￿dent Audltt)rs Statement of Finandal Artfvitie5 10 Balance Sheet 11 Cash Flow Statement 12 Notes to Cash Flow statement 12 Notes to the Finandal Statements 13-26 Detailed Statement of Flnandal Actlvltles 27-28 One Church Lelcester Reference and administratfve details lor th• Year Ended 31 December 2024 TRUSTEES Rev D Hlnd {MSnlster of Religlon) C Jewitt (HR Manager) Resigned 1511124 Rev J A Prestwich {Minister of Religion) P A John (Retired) A C Elton (Retired) F Okonkwo J Otters T H?nd S Jakovljevlch Appointed 1511124 Appointed 1511124 Appointed 29112124 ApwTnted 29112124 REGISTERED OFFICE OnE Centre 10 Frog Island Leicester LE3 SAG REGISTERED COMPAMY NUMBER 10286979 (England and Wale5) REGISTERED CHARITY NUMBER 1170291 INDEPENDENT AUDrroR The Rowleys Partnership Ltd Statutory Auditors Chartered AcCo￿tants Charnwood House Harcourt Way Merithan Bu57ness Park Leicester LE19 IWP One Churth Leicester Report of the Trustees For the Year Ended 31 December 2024 2024 Annual Report The trustees who are also dlrectors of the charity for the purposes of the C¢)mpanies Act 2LM)6, present thefjr rewt with the financial statements of charity for the year ended 31 December 2024. The Trustees have adopted the provisions of Accountlng and Reporting by Charitles: Statement of RecommeTKled Practke applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102)leffectvve l January 2019). The finandal statements have been prepared In accordance with the accounting w)licies set out in the notes to the accounts and ct)rnply wfth the charitys qoyemins document, the Charitles Act 2011 and Accotmtlng and reporting by Charitles: Statement of RecomM￿ded Practice appllcable to charitfes preparing their accounts fn accordance wEth the FSnandal ReporUng Standard appllcable In the UK and Republlc of Ireland pulAished in trtober 2019. OBJECTIVES AND ACTIVITIES Offldal Objectlves . To advance the Chrlstlaft falth In accordance wlth the statement in such way5 and in such parts of the Unlted Kfhgdom thr the world as the church leadership from ￿rne to time may thlnk flt. • To relleve sickness and financial hardshlp and to promote and weserye good health by the provislon of fundsp goods or servfces of any kind Including thr￿gh the provlsion of counselllng and support in such parts of the United Klngdom or the world as the churth leadership from time to time may thlnk flt. • To advance educatfon in such ways and Ih such parts of the Untted Kfngdom or the world as the church leadership from tlme to time may thlnk flt. Publfc Benefit For the main attfvftles undertaken to further the charity's purposes for public beneflt, the trustees have had regard to the Charlty Commission guidance on public beneflt. Fundralslng The charity raises sighlficartt fohds from the public but doès not use any professional fundraisers. ACHIEVEMEKfs. PERFORMAJ4CE AND FirruRE PLANS 2024 was a year of blessing at One Church. Atl of the glory goes to Jeyjs - He is the centre of atl we are. It is IXJT honour and prfvllege to walk wlth Him. On December 315t 2023 we shared our Iierse for the year V•ry"th the church: "Then the church...enJoyed a time of pvoce and strengthened. LI￿n9 in the fear of the Lord and encouroged by the Holy Splrit. It Increased in numbers." Acts 9:31 NIVUK. Thls verse has been outworked in a powerful way throughout ￿ year - we have indeed seen: Great peace Strengthening throughout the church A deep sen* of Hls closeness and HIS presence Numerlcal increase throughout church life. One Church Lelcester Report of the Trustees For the Year Ended 31 De¢ernber 2024 I would like io thank our amazln2 team who serve One Church and fts mlnistries alon85ide Susan and myself. It has been humblins to see the dedlcatfon from our Trustees, Elde￿, Senior Leadership Team, Staff and the dozens of One Church leaders who have 87ven thefr all thfs year for HIS glory. 2024 continued to Stretch us as a church and the reSp￿tse ot the whole One Church congregation has been humbllng and insplring. 12 Hfghllghts from the year: 1. During 2024 God grew thè hottse. As wfth any year we said goodbye to friends who moved avny from Lelcester but we also saw over new adults and children added to Lkne Church as we grew to over 1,300 people. 2. We Saw many people respond to appeals in the life of One Church. Around 500 individua15 responded to find Jesus for the flrst tlme, to recommit their faith or to take thelr next step towards Jesus. 3. In May we were able to plant our newest site In Loughborough (our first Site outside of Lefcester). A team of around 50 people commttted to ploneerin8 here, and. alreaty the new slte Is growlng and maklng a differerKe In an area of Loughborough where there is Ilttle Chrlstfan activity 4. Our thrlvTng chlldren'si youth and youn8 adults. work Impacted thousands ot young lives. Through communfty groups, school's work, midweek and Sunday groups we were able to make a dlfference, seeing many people find Jesu5 and be bap.t15ed. Around 50% of One Church fs under 30 yeats otd, 5. The compassion charlty, 'Open Hands, that we support as a church contlnued to make a deep 7mpact In the city as It offered love, compasslon and practlcal help to thousarnls of people. All of the needs of Open Hands were met and we were successful w?th grants and connertions. It Is our honour to be His hands and feet. 6. The Oak Centre, our Communlty Centre in Braunstotte, had another year of blesslng as the centre saw dozens of hires and many people belng sUPPOrted and helped. As & wrlte we haye Just Invested around £50,000 fn building changes and developments. This came from a Lelcester Clty Councfl grant of £21,494 and the 2023 One Church Vislon offering for both of whlch we are very grateful. 7. We held many amazing whole church events Inctudlng our Nations Day, wlth 69 Natlonalltles represented and many ChrFStmas and New Year events whlch saw large attendances. The One Centre became establlshed in the dty of Leicester with a number of conference bookings from other charities, churches and organisattons. It is a wonderful resource. Wfthln the building, Way Coffee (our ovm coffee kKNJse> thrived. 9. 2024 saw a year of fncreased financfal giving at One Church: We saw tithes and offerlngs grow by nearly 10% from the previous year. RedemptTon of pledges from the 2023 Visfon offerfng was over 90%. The Vision Offertn8 was used to plant One Church L￿gh1X)r0U8h, strengthen OP￿ Hands, prepare a vlabilfty study for the development of No 12, Invest in the United netsyork of churches, help with roof repairs, redecoratlng and practical advartcements in No 10 and invest in the Oak Centre.. We al50 increased our One Church charity reserrfes and paid an additional £11)D,000 off our mortgage alongside monthly payments. We were able to increase our glvlng to Mlssion and Compassion, includlng our Christmas offering of over £5,1)00 to bless cared for chIld￿n and families adopting and fostering In Lelcestershlre. One Church Lelcester Report of thè Trustee5 For the Year Ended 31 December 2024 10. In November we had our third Visfon Offering and over £300,0(J) wa5 given and pledged. In 2025 this will be invested in. Bringing down the ramp at the side of I￿r buildTngs - (this has begun). Bring7ng down our mortgage - (this has begun). Building up In around 10 area5 of community advancement. PreparÉng drawings and designs for stage 2-5 of our Central Site development {these have begun). Further Investment ihto our Youth and Children's work and refreshlng the equipment in our sites, and a few smaller building developments. 11. New Oisc7plesh7p coutse5 thrived in church life and Prayer, Small Groups and minlstrie5 grew. 12. Susan and I were ble55ed to enjoy a 2 month sabbatlcal in the mlddle of the year, which was a deep tfme of rest and devot30n for us. Wh7lst we were away One Church continued to thrive under the tempoTary leadershsp of James Prestwlch and Tom Hind. alongsfde our Senior Leadership Team. We are very srateful to them all. As we give thanks for 2024, Susan and l are full of faith and.vi5ion for 2025. Our heart as a church remains to: Love God, Love People, Love His Mis5fon aTKI Love His Church. We are certain that our best days are ahead. We are honoufed to serve by leading this amazing church. Davld Hlnd - Senlor Leader Flnandal Revlew The acc.ounts on pages 10-26 sumrnarist the income and expenditure during the year ended 31 December 2024 and the state of the charitys affairs as at 31 December 2024. One Church Leicesterfs maln Sources of funding were free wlll offerings from the church congregatlon through regular tithes and offering5, an annual vtsion offerin8 and income tsx recovered under the gift aid scheme. Reserve policy The reser￿ policy for One Church Is to malntaln unrestricted funds, whTch are the free reserves of the cFwrch, to cover three months of expenditure. This ts In addition to f7xed assets held and used for the Church's aims and purposes. Thls level of reserves should ensure that at any time of year the Churd) is not required to borrow funds on overdraft from its bankers. Any additional reserves are generated with a view to fund longer tenn projects. The trustees deftne free reserve5 as belng totsl unrestricted current assets less current liabilities. The policy for unrestricted cash reserves set by trustees for 2024 was £167,000. Thf5 policy wlll be revlewed annually at the t7me of settinq the budget for the forthcoming year. Free reserve5 at 31 DeCeM￿r 2024 were £171,477. We maSntained restricted reserves amounting to £89,881 at 31 DeCem1￿r 2024. One Church Lelcester Report of the Trustees For the Year Ended 31 December 2024 Plans for Future Perfods The thurch contlnued to grow and flourlsh throwh 2024 and this sftuatfon contlnues Into 2025 with many 5torie5 of (Ives befng Impacted and transformed. The numbers of people attendlng fn-per50n atross all our Sites continues to Increase. The flnancial posltion of the charfty also remains stron8 with the congregatlon faithfully redeeming vlslon pledges and with unrestricted tfthes and offerings malntaining strong Inflows, in Ilne or ahead of budget ptans. focus for 2025 wlll be one of on80ing 'Strengthening' across multipte areas of One Churih Leicester and the mfnistn.es that are supported. "Pass through, pass through the gatesl Itepare the way for the people. Bu7ld up, bulld up the hlghwayl Remove the stones. Ra15e a banner for the nalfon5" tsalah 62.10 SIRucfuRE. GOVERNANCE AND MANAGEMENT Governln8 document One Church LeI￿ster 15 controlled by its govemfng document Memorandum and Article5 of Associatlon Incorporated In 19 July 2019, a deed of trust, and con5tltutes a limited company, Ilm5ted by guarantee, as deflned by the Companfes Act 2006. Davfd and Susan Hlnd are the Senlor leaders of One Church Leicester brfngfng Leadershfp, vlsion and management. Our TrusteeslDifectors In 2024 were Phvl John, Colfn Jewitt, Andrew Elton - Chalr, James Prestwich. Fafjth Okonkwo, James Owers, Thomas Hind, Sabrlna Jakovljevlch arKI David Hind - and secretary James F*estwlch. Sarah Hickman is the F7nance Manager. Recruftment and appotntm•nt of new trustees Where a replacement 15 reqthfed or it Is deemed necessary. to strengthen the team, the senior leader in dTscussion wfth the chair of trustees, nomlnate a potentfal new trustee who demonstrates the relevant experience, skllls and comrnltment. Th15 nominatlon Is then consldered by the full board of trustees. New Trustee5 are provided vrfth copies of the memorandum and artlcles of assocfatlon, latest accounts, recent rnlnutes, detslls of roles & responsibilities, policles and suitable Charlty Commlssion guldance. Rlsk managemènt The ttustees have a duty to Identffy and revSew the risks to which the ¢harlty is exposed aThd to ensure approprlate controls are fn place to provlde reasonable assurance agalnst fraud and error. Trustees re¥)onslbllltles Jtatement The tnistees (who are also dlrectors of One Church Leicester for the purposes of company law> are tesponsible for preparin4 the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom ACcO￿ting Standards (United Kingdom Generally Accepted Accounting Practlcel. One Church Lefcester Report of the Trustees For the Year Ended 31 December 2024 Company law requires the trustees to prepare financial 5tstements for each financlal year. Under company law the trustee5 must not approve the ffnancial 5tatertients unless they are satTSfied that they give a true and fair view of the state of affairs of the charitable company and of the incorTring resources and application of resources, iKluth"ng income and expenditure. of the charTtable company for that peri(Kl. In preparing these financial stateTh￿t$, the trustees are required to: select suitable accounting policies and them apply them consistently. . ob*rve the methods and principles in the Charities SORP2019 (FRS1 IY2)", • make judgements and estimates that are reasonable and prudent; • State whether appLicable UK Accountir4 Standards have been followed; • prepare the financial statement5 on the goin8 con￿rn basis unless It is inappropriate to presume that the charitable company wlll contfftue In operation. The trustees are responslble for keepin8 adequate accountlng record5 that dfsclose with reasonable accuracy at any tirne the financlal position of the charitable company and enable them to ensure that the financial staten*nts comply with the Companies Act.2006. They are also responsible for safeguarding the assets of charitable cornpany and hence for takfng reasonable steps for the prevention and detectfon of fraud and other Irregularftles. In so far as the trustees are aware: there is no relevant audit information of ¥¥thlch the charftable company's audltor is unaware: and the trustees have taken all steps that they ¢)ught to have taken to make themselve5 aware of any ielevant audlt Information and to establish that the auditor is aware of that information. This report has been prepared in accordance with s￿lat provisions of Part 15 of the Companies Act 2006 relatTng to small companies. Approved by order of the board of trustee5 on l o 5 and slgned on its behalf by: Andrew Elton - Chalr of Trustees Independent AudltDf'5 Report to the T￿￿tee5 of ¥￿e Church Lelcester Oplnlon We have audlted the flTrancial statements of One Church Lekester {the 'charitable company,) for the year ended 31 December 2024 whfch comprise the Statement of Fanancial ActTVities, the Balance Sheet, the Cash Aow Statement and notes to the finandal statements, irKludlng sfgnlflcant accountin8 policies. The flnancial reming framework that has been applied in thelr preparatlon Is appllcable law and United Kingdom Accounting Standards, including Ffnancfal Reporting Standard 102 The Finahclol Reporting stondard ¢ypllcable In the UK ond Republlc of Iretand (Unfted Kin8dom Generally Accepted Accountin8 Practice). In our oplnion the financlal ststements: give a true and falr view of the state of the charitable company's affafrs as at 31 December 2024, and of Its Incoming resources and application of resources, Includln81ts income and expendlture, for the year then have been properly prepared In accordance wlth Unlted Kingdorn Generally Accepted Accountlng Practlce: have been prepared In accordance with the requtrements of the Charftle5 Act 2011. Basls for q>lnlon We conducted 4)ur audlt In accordance wlth Internatlonal Standards ¢)n ALkliting (UK) (ISAS (UK)) and applicable law. Our re5ponsibititles under those standards are further de5crfbed In the audltor responsiblllties for the a￿lIt of the flnancial statements section of our report, WÈ are Independent of tlk char*tsble company in accordance with the ethical requlrements that are relevant to our audit of the financfat statements in the UK, including the FRC'S Ethical Standard, and we have fulfllLed our other ethlcal responsfjbitities in accordance with these requirements. We belTeve that the aLKllt evfdence we have obt&ined is sufflcient and approwfiate to provide a basls for our oplnlon. Conclusions relatln8 to ioln8 concern In audltlng the ffnancfal statements, we have concluded that the trustees, use of the going concern basis of accountln# In the preparatiort of thè ffnanclal Statements is approprfate. Based on thé work we havé perfornied, we have Ilot idÈntlfled any materlal uncertainties Telating to events or condltfons that, indivithally or collectlvely) may cast $18n7ficant doth)t on the charitable company's ability to cohtlnuè as a going concern for a perfod of at teast tb%*lve months from when thE flnancfal staternents are authorised for 5ssue. Our responslbfllties and the responsibllfties of the tn￿tee5 wlth respect to going concern are descrlbed In the relevant séctlons of thls report. Other Inforn￿tIon The other informatlon comprf*S the informatton included in the trustees annual report, other than the flnandal statements and our audltovs report thereon. The trustees are reS￿nSIble for the other information contalned wlthln the anhual report. Our opink)n on the financial statements does not cover the other informatlon and, except to the extent otherwlse explicitly stated in our report, we do not express any fonn of assurance conclu5Ton thereon. Our responslbflfty is to read the other Infomatfion and, in doing so, const(kn whether the other fnformation Is matèrially *ncon5tstent vrtth the flnancial 5tstements or our krnwledge obtained in the course of the audk or otherwise appears to be materially mtsstated. If we Identlfy such materlal 2nconsistencles ￿ apparent materlal mtsstatements. we are required to determir4e whether thls gives rise to a materiaL rt￿sstaternent In the flnancfjal Ststements themselves. If, based on the work we have performed, we conclude that there is a matertal mlsstatement of this other fnfonnatton, we are requfred to report that fact. We have nothlng to report In thts regard. IhdepèDdeTrt Authtor's Rèport to the Trust•es of One Church Leicester Matters on whkh wè are requlred to rern by exceptlon We have nothlng to report In respect of the following matters In relatlon to whlch the Charities (Accounts and Reports) Regulations 2(X)8 require us to report to you if, in (yjr opinfon.. the Tnformatlon gfven In the fiftancial statements is inconslstent In any material respect with the trustees. report; or sufficient accounting records have not been kept. or the finandal statements are not in agreement with the accountlng records and return5; or we have hot received au the inforniation and explanations we requTre for our audit. Responslb7litle5 of tfustees s explained more fully Tn the tntstees, responsibllltie5 Statement. the trustees are responsible for the preparation of the financfal statetnents and for being satisfied that they give a true and fair view, and for such Internal control a5 the trustees determlne Is necessary to enable preparatSon of ftnancial ststements that are free from materfal misstatemeftt. whether due to fraud or error. In preparlng the ffnancial statements, the trustees are respmslble for assessing the charttable CoMpan￿S ability to continue as a 8oin8 concern, dlscl05fngJ as applfcable, matters related to golng concern and usvng the 8oln% concern basis of accountfng unless the trustees elther intend to Ilquidate the charitable company or to ￿ase operatlons, or have no realistlc alternative but to do 50. Audltor re5ponslbllltles for the audlt of the flnandal ststements We have beeh appolnted as audltor under 5ectlM 144 of the Charltle5 Act 2011 and report In accordance wlth the Act and relevant resulations made or having effect thereunder. Our objectives are to obtaln reasonable assurance alxsut whether the finandal statements as a whole are free from material misstatement, whether due to fraud or error, and to I￿Ue an auditor's report that Includes our opfnlon. Reasonable aswrance is a high le￿[ of assurance, but is not a suarantee that an audlt conducted in accordance wlth ISAS (UK) wlll always detect a material misstatement when It ex15ts. Misstaternents can ari* from fraud or error and are consldered materiat if, Indlvidually or In aggregate, they c¢>uld reasonably be expetted to influence the economic decisions of u*rs taken on the basis of these financlal statements. Irre8ularltfjes, Including frawl, are in5tance5 of rKJn.compliance wlth laws and regulatfons. We deslgn procedures in Ilne wlth our re5ponslbfjlltles, outlined above, to detect m4terf41 mlsstatements in respect of Irregularftfes, Includfng fraud. The extent to which our procedures are capable of detectlng irregularities, includlng fraud is detailed below.. We obtained an understandlng of the legal and regulatory framewTh*s that are appl?catrAe to the charftable company's arxl detemilned that the most signlflcant.which are dlrettiy relevant to spedflc assÈrtlohS fn tt financial staternents are those related to the flnancfal reportlng frameworks (UK Generally Accepted Accountlng F*actice. the Charltle5 Act 2011) and the relevant tax compliance regulatlons In the jurfsdiction fn whlch the charitable company operates. We enqufred of fnanagement, *thether they were aware of any Instances of nOn-¢￿p1]ance with laws and rÈgulatlons or whether they had any knowledge of actual, suspected or alleged fraud; We assessed the susceptfbillty of thÈ entIt￿$ financial 5taternents to materfal mlsstatement, induding how fraud might occur; Our tssting c¢)nsldered unusual or unexpected JDumal entries on a sample basls; We evaluated the assumptions and judgements used by tnanagement within 5fgnlficant accounting estimates and assessfng If the* indicate evldence of management blas; We tested Slgnlficant transactions, in particular the evaluation of the business rationale for any which appear unusual or outside the charitys normal course of business. We assessed the appropriateness of the collectiiie competence and capabTlitTes of the engagement team by understanding the practtcal experience viith audlt engagements of a simllar rklture and complexlty. plus Indepeftdént Audltor's Report to the Trustees of One Church Lelce5ter ensuiing the team had approprfate and relevant train7n8 of the financial reporting framework and the relevant tax complfance regulatlons specific to the entfty; We reNiewed the financTal statements and tested the disclosures against supporting documentation. and Vle communfcated rele¥ant matters to all mernbers of the audit team to ensure they understood the r15ks specific to the entity and the audit procedures plamed to mitigate these. Because of the ofik￿rent limitations of an audit, there Is a rfsk that we will not detect au iYre¥ularities, includln8 those leadfng to a matèrlal mi55taternent in the financial statements or non.compliance with regulatTon. Thls rfsk Inc￿ase5 the more that compEiance with a law or regulatlon Is removed from the events arKt transactions reflected In the ffnancial statements, as we wtll be less likely to berome aware of Instances of non-compllance. The also greater regardtng irregularities occurring due to fraud rather than error, as fraud Involv￿ intentlonal concealment, forgpry, colluslon, omtsslon or mfsrepresentation. A further descrfptlon of our resp)nslbillties is available on the FRC'S webslte at.. h t :// orslaudit- ssu 7lities-for- . Thfs description fornis part of our auditrrf's report. Use of our report This report fs made solely to the charttable company's trustees, as a body, in accordance wtth Part 4 of the Charltles {Accounts and Reports) Regulatlons 2008. Our audlt work has been undertaken so that we ml8ht state to the charity's trustee5 those matters we are requTred to stste to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume re5p¢)n5ibility to anyone tsther 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. The RowLeys Partnershtp Ltd Statutory Audltors Chartered Accountants Ell8fble to act as an auditOT in terms of Section 121.2 of the Companles Act 21J06 Charnwrjod Howe Harcourt Way MerTdian Bu57ne5s Park Leicester LE19 1WP Date: One Church Lelcester Statement of Flnandal Artlvltles {IncorpDratin8 ao.IrYcome and Expendlture Account) for th• Y•ar Ended 31 December 2024 14ote Unrestrlcted Restrirted Fun(Is Fund$ Total Funds 31.12.24 Totsl Funds 31.12.23 Inc(yne and endowments from Donatlons and legades 815,795 398,021 1,213,816 1,351,144 Other tradln8 artlvftles Investment income Other Income 151,335 93,802 151,335 93,802 95,741 85,003 89,935 Total Income and endowments 1.060,932 398,021 1,458,953 1,621,823 EXPENDITURE ON Charltsble actmtles: Mlnlstrles G5vln8 away 109,104 97,230 15,174 136,373 113.958 182,202 233,603 Other 959,924 33,728 993,652 826,613 Total èxpendlture 1,166,258 185,275 1,351,533 NEf INCOlaEI(EXPENDITURE) (105,326) 212,746 107,420 499.050 Transfers between funds 21 340,035 1340,035) Net movement between funds 234.709 1127,289) 107,420 499,050 Recondllati¢m of funds Total fwds brought fo¢ward 2,393,407 171,245 2.564,65Z 2,065,602 Total funds carried forward 2 628 116 26720n coKriNUING OPERATIONS All Income and expendlture has arisen from continuing actlvltles. The notes on pages 13 to Z6 form part of these financial statements. 10 One Church Lelcester (Regtstered number: t0286979) Balance sheet as at 31 December 2024 31.12.24 31.12.23 Total Funds Unrestrlcted Funds Restrlcted Funds Total Fund5 Notes Flxed Assets Tanglble assets Investment Property 13 14 2,494,849 530,(rfXI 2,494,849 S30,￿0 2,518,006 530,0 Currert Assets Stocks Debtors Cash at bar* and fn hand 3,630 69,399 288,387 361,416 3,630 69,399 332,343 3,456 147,596 315,697 466,749 15 43,956 Credltors AmoLmts falling due vAthln one year Nèt Current Assets 16 (145,475) 215,941 3,240,790 1145,475) 259.897 3.284,746 (120,288) 346,461 3,394,467 43,956 43,956 Total Assets less Current Llabllltles CREDITORS Amount falling due after more than one year NET ASSETS 17 {612,674) 2,628, 16 1612,674} 2,672,072 {829,815) 2.564,652 43,956 Funds Unrestrfrted funds Restrfcted funds Totsi Fun(ts 21 2,628,116 43,956 2,672,on 2,393,407 171,245 2, 564,652 The charftable company Is entltled to exemptTon from a￿lIt under Sectlon 477 of the companies Act 21X)6 for the year ended 31 December 2024, althouBh an audfit has been carried out under sertlon 144 of the CharSties Act 2011. The members have ￿t deposlted notice. pursuant to Sect1￿ 476 of the Companle5 Act 2CQ6 requiring an audit of these flnanclal statements. The trustees acknowledge thelr responsibilitles for la) ensuring that the charitable company keeps accounting recor¢Js that c￿lP[Y with Sections 386 and 387 of the Companies Act 2￿6 and (b) preparing ffnancial 5taternents whlch give a and falr vtew of the state of affairs of the charltable company at the end of each flnancial year and of Its surplus or deficft for each flnancial year In accordance with the requlrements of ktions 394 and 395 and whlch otherwlse comply with the requlrements of the Companles Act 2006 relating to financial statements, so far as applicable to the charftable company. These flnanctal statemehts have been prepared h) accordance wfth the provislons applicable to charftable companie5 Subject to the small companies reglme. The flnanclal staternents were a roved by the Board of Trustees and authorfsed for issue On .andwe behalf by: Phlllp John . Trustee The notes on pages 13 to 26 f these financial statenlents. 11 One Churth Lelcester 5tstement of cash flows for the year ended 31 December 2024 Year ended 31.12.24 Year end 31.12.23 Cash flow from operatlng artmtles Cash flow from operating activlties Net cash provlded by operating actlvltles Cash flow from Inve5tln8 actlvftles PEJrchase of tangible fixed assets Sale of tangible fixed assets Intere51 re￿Ived 357.845 357,845 454,705 454.705 182,173) 320 7,631 (1,633,954) 596,217 5,428 Net cash (used Invprovlthd by Investing actfvStles Cath flows from flnandng actlvltt•S Alovement in loans Interest Pald .(74,222) (1,032,309) 12f7,141) (49,8361 398.355 (45,892) Net cash (used Invprovlded by financlng actlvltles Change In cash arKI cash equlvalents In the reportln8 perfod Cash and cash equlvalents at the beqlnnlng of the reportlng perl¢ Cash and cash equlyalents at the end of the reportfn8 perfod .(266,9 352.463 16,646 315,697 332,343 (225,141 540,838 315,697 1 RECONCILIATION OF NEf INCOME TO NEf CASH FLOW FROM OPERATING ACTWMES Ilet fjncome tor the rewtln8 perlod (as per the Statement of Financtal ActMtl•s) 31.12.24 107,420 31.12.23 499,050 Net movemt5 In fun Adjustments for: Loss on dtsp05al of tangible fixed assets Deprec5atlon char8es Interest recevved Interest patd (Increase) fn stocks {Increase}Idecrease tn debtors Increasel(decrease) in credltors Net cash (used Iny prDvlded by q>eratlons 7.299 97,710 17,631) 44,836 (173) 78,197 25,187 . 357.845 189,935) 104,823 (5,428) 45,892 (3,456) (98,046) 1,805 454 705._ 2 ANALYSIS OF CHANGES IN NET FUNDS At 1.1.24 cash flow At 31.12.24 Net cash Cash at bank and in hand 315,697 315,697 16,646 332.343 Total 332,343 Debt Debts falling due wlthfn 1 year Debts faiilng due after 1 year {66,977> (829.8151 (896,792) (66,977) (612.674) (679,651) {347,308) 217,141 Z17,141 233,787 Totsl 12 One Churth Lelcester Notss to the flnandal statements for the year ended 31 December 2024 1 ACCOUNTING POLICIES Basfs of preparlng the flnancfal statements The finanaal statements of the charitable company, whlch Is a public l)enefit entity undÈr FRS102, have been prepared in accordance wfth the Charitie5 SORP (FRS1021 'Accounttng and Reporting by Charities: Statement of Recommended Practlce app15cable to tharities weparins the7r accounts fn accrKdance with the Flnanclal Rep￿ing Stsndard applicable in the UK and Republic of Ireland (FRS102} (effective 1 January 2019),, ahd the Companfes Art 20LXI. The financial statements have been prepared under the histotlc cost corwention, with the exceptlon of investments which are incl￿ed at market value. One Churth Lelcester is a private company lim7ted by guarantee registered Tn England and Wales. The address of the reslstered office 15 gsven in the charfty fnfornBtion on pagE 1 of these financial statements. Yhe signlficant acc¢wntlny polides applied In the prepara￿on of these financial statemert5 a￿ set out below. These pollcies have been consfstently applied to all years presented unless otherwise stated. Income All Income Is recognfsed fn the Statement of Financfal Activities OTh￿ the charfty has entttlement to the funds, it Is probable that the income witl be recelved and the arr#JJnt can be measured rellabty. For legacles, entltlement Is the earlier of the charity bdng nO￿fied of an impending dtstribution or the legacy being recefved. At thls polnt Income is recogni5ed. On msfon legades ￿11 be notified to the charlty however it is nrt possible to measure the arrK)unt expected to be distributed. On the* occasfons, the legacy Is treated as a contlnBent asset and dlsclosed Expehdlturè Liabilitle5 are recognfsed as expendlture as soon as there Is a legal or constructive obllgatlon commltting the charity to that expendlture, it is probable that a transfer of economlc behefits wlll be required in settlement and the arnount of the obligatton can be measured reliably. Expenditure 15 acc(￿nted for on an accruats basls and has been cLa5sified under headings that aggregate all cost relatlng to the category. Where cost cannot be directly attrlbuted to particular h&idings tlw have been allocated to actlvtties on basis conslstent.wlth the use of resour￿. Tangfble flxed assets It Is pollcy that monies received relatlng to bulldlng arid capital projects are transfèrred to unrethcted funds once the bulld5ns works and projects have been achieved. Depreciati￿ ts provlded at the foLlowing annuat rates in ￿der to wrlte off each asset over its estlmated usèful Iffe. Church Equipment Way Coffee fixtures and flttings Improvements to freehold property Improvements to leasehold property Freehold property Investment property Investment properties are shown at thelr open niarket value. Any revaluation galn5 or losses are taken to the Statement of Financial Activities (SOFA). 15% on reduclng balance 15% on reducing balance Catculated over 30 years at C05t 15% on reducing balance 2% Im cost 13 One Church Lefcester Notes to the flnandal statements for the year ended 31 December 2024 1 ACCOUKfiNG POLICIES (CONTINUED) Taxatl The charfty is exempt from corporation tsx on fts charitable actiVTties Fund Accountlng Unrestricted funds can be in accordan￿ with the chatitable objertives at the dlscretion of the trnstees. Restricted fun(Is represent Income and tan only be used for particular restricted purposes within the objects of the charlty. Restrictions arise when specified by the donor or vh)en funds are raised for particular restricted pury)oses. Further explanatlon of the nature and purpose of each fund is included fn the r#rte5 to the flnancial statements. Hlre purchase and leaslng commlknnents Rentals pafd ￿der operatin8 leases are tharged to the stst￿nent of Flnandal Activitles on a straight line basf5 over the perf¢xI of lease. Penslon Costs and other post retlremmt benefits The charlty operates a defined contributlm pens5on scheme. ContrfbutTons payable to the charltsble company's penslon scheme a￿ tharged to the Statement of Financial Activities In the period to which tlw relate. Debtors and credltors re￿1vable/Payab18 wftmn yoar Debtors and credltors are stated at transactlon pr7ce. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and cash on deposit. The finandal statements have beeft prepared on a gofny concem basis as the trustees belteve that no material ￿certaIntIeS exist. The trLStee5 have considered the level of funds held and the expected lerfel of income and expenditure for 12 months from authorising these flnandal Statement5. The budgeted 7ncome and eXwd1tU￿ us sufflcient with the level of reserves for the charity to be able to continue as a Eoing concem. Stocks Stock8 are stated * th8 lower of Cost and estimated seHing price less costs lo complete aml sell. Cost includes all costs of purchase, costs of converslon and other costs incurred In bringing stock to Its present location arKI condition. Cost is Calculated using the first-in, tirst-out fomiula. Provislon is made for damaged. ob501ete and slow4noving stock where appropriate. 14 One Churth LeTcester Notss to th• financlal statements for the year ended 31 December 2024 2 DONATIONS AHD LEGACIES Year ended 31.12.24 Year ended 31.12.23 LegacTes Regular Giving Glft ald Grant5 hllssion Income Restrlcted Gfivfn8 BulldlrY4 Fund Vi5kn fund 91,317 651,4.13 103.321 25,648 34.818 30,528 233,769 180,330 679,999 135,795 24,710 58.111 40,154 131,274 143,773 Of total incwie from donations and legacie5 £815,795 {2023: £846,050} was unrestrTCted and £398,021 (2023: £505,094) was re5trkted. 3 OTHER TRADING AcnvmES Year ended 31.12.24 Year ended 31.12.23 Activitles and clubs Oak Centre Way Coffee 3,938 66,695 25,108 66,838 79,958 Of total Income from other trading acti￿tIeS £151,335 {2023: £95,741) was ￿restrIcted and £NII (2023: £NII) wa5 restricted. 4 INVEsfMEKf INCOME Year ended 31.12.24 Year ended 31.12.23 Rent received Rent received No 12 .Dewsit account interest 16,020 70,151 28,969 50,606 93,802 85.003 Of total income from investments £93,802 (2023: £85,003) wa5 unre5trlcted and £Nfl (2023; £Nil) Iwa5 restricted. 5 OTHER IIICOME Year ended 31.12.24 Year ended 31.12.23 Profit on dlsposal of fixed assets Other Income 89,935 89,935 Of totsl Oth6T Income £NII (2023: £89,935) was unrestrict8d and £NIl {2023: £Nil) was restricled. 15 One Church Leicester Notes to the flnandal statements for the year ended 31 December 2024 6 CHARITABLE AcnviTIES co¥rs Dlrect Costs (see Mte 7) Ministries Gfvfng away 124,278 233,603 57. 7 DIRECT COSTS OF CHARITABLE AcnvmES 31.12.24 31.12.23 Ministries Giving Away - SndlYlduaÉs Glying Aw.ay - Instftutlons 124,278 30,057 113,958 34,665 357.881 296,160 Of the total amount given to indivlduals £21,449 {2023: £23,984) was unrestrlcted and £8,￿ (2023: £10,6811 was restrfcted. Of the total amount given to instltutions £75,n1 (2023: £66,586) was unrestricted and £127,765 (2023: È80,9$1) wa5 restrfrted. Of the total mlnlstrles costs £109,104 (2023: £113,958) was unrestricted and £15,174 (2023: £NII) was restricted. 8 OThER Included In the Other expenditure Is as follows 31.12.24 31.12.23 Unrestricted Restrlcted funds funds Unrestricted Restricted funds funds Total F￿dS Total F￿d$ Wages & Salaries Project Costs Other (yerating exs Flnance costs- bahk charge5 Governance costs- audit fees Governance costs. legal fee5 577,955 45,761 314,410 5.931 1,031 26,766 583,886 46,792 341,476 464,734 70,712 266,337 71,395 267.539 1,202 6,453 6.453 14,195 14.195 16,156 16,156 1,150 1,150 993 652 B24 728 826 613 16 One Churth Leicester Notes to the finandal rtatelnents for the year ended 31 December 2024 8 OTHER (CONTINUED) kncluded in the ￿alYSIS above 15 expeFKliture retatinq to the Oak Centre as follows: 31.12.24 31.12.23 Wages Social securfty Pensions Repair& cleanir¥g and malntenance Catering Project costs Offlce expenses Telephcne and rr costs Insuran Bank charge5 31,327 1,804 1,890 14,21.6 2,445 22.543 16,511 4,905 3,057 437 817 593 8,813 389 1,059 633 52,778 9 NET INCOMEI{EXPENDrruRE) The total fee paid to the audltor wa5 £13,980 fnclusive of vat (Z023: £13,2￿ inclusTve of vat) which was for the audit and £72012023: £NTI} for other 5ervlces. 17 One Church Lelcester 14otes to the flnaThclal statements for the year ended 31 December 2024 10 TRUSTEES. REIAUNERATION AND BENEFrrs The followlng trustees received emoluments dwing the year. They are paid in their capacity as mln1sters of the Church for whTch the legal authorfty Is gfven In Articles of assrKiation. 2024 2023 D Hind R￿nUr￿at10n for ministry stjpport Penston c(mtributic￿s Beneflts in kind 50,052 6,006 2,496 48,587 4,830 2.496 58.554 J Prest￿Ch Remunerati(￿ for ministry suppLYt Pension contribution5 36.228 1,811 ¥(Klg 38,039 35.709 Trustées. expenses There were rrf> trustees. e>genseJ pald for the year erKled 31 December 2024 nor for the year ended 31 December 2023. Year ended 31.12.24 Year ended 31.12.23 11 STAFF COSTS Salarles and wage5 Soclal secwity costs p￿S1on costs 526,409 31,476 26,(K)1 401,219 22,653 40,862 464,734 The average number of per5(xis employed by the charlty during the year was as foLIows: 31.12.24 Number 31 31.1L23 Number 27 Total numbeT of staff No employees received total ￿Playee benefits lexcludlng employer pensfon costs) of more than £60,OCX). 18 One Church Lelce5ter Notes to the flnanclal statements for the year ended 31 December 2024 12 COAIPARATIVES FOR THE STATEMENT OF FINANCIAL AcfiviTIES Unrestricted Funds Restrfcted Funds Z023 Total Funds INCOME AND ENDOWMENTS FROM Donatl¢)ns and legacfes 846,050 505,094 1,351,144 Other trading actmtles Investment Income Other 95,741 85,1X13 89,935 95,741 85,lJ)3 89,935 Total 1.116.729 505,094 1,621.823 EXPENDITURE ON Charftable activities Ministries GI￿￿8 away Other 113,958 90, 570 824,728 113,958 182,202 826,613 91,632 1.885 Total 1.029.256 93,517 1.122.773 NEf INCOhlEI(EXPENDITURE> 411,577 499,050 Galn on acqulsltlon Transfers between fund5 943,940 (943,940) Net movement In tunds 1.031.413 (532.3631 499,050 RECONCILIATION OF FU14DS Total fund5 brought forward *,361,994 703,608 2,065,602 TOTAL FUNDS CARRIED FORWARD 2 393 407 171. 245 2 564 652_ 19 One Church Leicester Notes to the flnanclal 5tateft)ènts for the year ended 31 December 2024 13 TANGIBLE FIXED ASSETS Leasehold iffiprovements Freehdd Way Flxtur•8 Church Property & Flttlngs Equipment Total COST At 1st January 2024 Additi(￿5 Disposals At 31st Decern￿r 2024 2,469,341 (3.714 19,067 223,591 50.325 ..115,741). 258,175 2,711,999 82.173 (15,741) 2,778,431 32,540 32,540 2,465,627 ￿[￿9 DEPRECIATION At 1st January 20Z4 Charge f(K the year Eliminated ort dlsposals At 31st December 2024 1,290 3,244 11M.039 21,123 (8,122) f93,993 97,711 (8,122) 4,881 68,463 4,881 4,534 NET BOOK VALUE At 31st December 2024 27,659 2,308.5CK) 17,555 .141,135 2.494,849 At 31st December 2023 2,380,677 17,777 119,552 Capftal commltments At the year end, the tharfty had capltat cc*rtmltMehts of £5,836 (2023: Nil) 14 IMVESTMENT PROPERTY 31.12.24 31.12.23 Market value at 1 January 2024 Matket value at 31 December 2024 530,LKK) The original cost of the above investment prq)erty at 12 Frog IsLind. Leicester was £530,(KM). A formal valuation was carried out ￿ 26 April 2022 by Musson Liggins. The trustees c(X15ider that the valuaticA) as at 31 Decembff 2024 is fairly stated. 15 DEBTORS: AMOUNTS FALUNG DUE wffHIN ONE YEAR 31.12.24 31.12.23 Trade debtors OtheT debtors Prepayments and accrned fncorne 18,170 16,703 34,526 69.399 28,731 104,202 14,663 147,596 One Church Lelce5ter Notes to the financial Statements for the year ended 31 December 2024 16 CREDITORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 31.12.24 31.12.23 Bank loans and overdrafts (see note 18) Trade creditor5 Soclal securlty and other taxes Other creditors Accrued Expenses 66,977 29,499 11,784 6,849 30.366 145, 66,977 12,468 10.896 10,439 20,28 17 CREDrroRS* AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.12.24 31.12.23 8ank loans and overdrafts {see note 18) 612.674 829,815 612,674 ￿815 18 LOANS An analysi5 of the maturity of loan5 is giyen below: 31.12.24 31,12.23 Amounts falllng due withfn one year on demand: Bank loans 66,977 66,977 Amounts falling due between one arKI two years: Bank loans - 1-2 years Amounts falling due betW￿n two and fiye years: Bank loans - 2-5 years 21J),931 21X).931 Amounts falling due In more than fiye years. Bank l¢)an5 - more than 5 years years 19 LEASING AGREEMENTS Minimutn lease payments under non-canceltable leases fall due a5 foll(y* 31.12.24 31.12.23 Wlthfn one year Between one ano flve years 330 330 239 239 20 SECURED DEBTS The followlhg setured debts are Intluded wlthin credltors: 3t.12.24 31.12.23 Barth loans 679,651 896,792 The bank loan is secured ¢Ji the propertie5 at 10 and 12 Frog IsLand. 21 One Church Lef¢ester Note5 to the finandal statements for the year *ided 31 December 2024 21 IAOVEMENT IN FUNDS Net movemeht in fuThls Transfer5 between furMIs At 1.1.24 At 31.12.24 Unrestrfcted furKIs General 2,393,407 {105,326) 340,035 2,628,116. Restricted funds Grants Speciflc Gfvlng BSL MisSiOrtS Visl(Ml 2023 Vlskn 2025 1,293 22,112 2,535 425 (21,494) (1,294) 1,911 2,103 425 169.090 46,319 141,355 (215,409) {101,838) 39,517 171,245 (340,035) TQTAL FUNDS 2,564,652 107,420 2,672,072 Net movement In funds, Included In the above, ￿ as follows: Incoming Resources Resojrces expended Movement In funds Unrestrlct•d funds General fund 1,060,932 (1,166,25& (105,326 Restrlcted funds Visi¢m 2023 VISI￿ 2025 Change One Mlsslons Grants Iflc Glvlng Open Hand$ BLessing FurMI BSL 131,274 143,n3 (84,955) 12,418) (31,416) (26,695) (2,598) {22,473) {13,956) (514) (250) (185,275) 46,319 141,355 26.695 24,710 25,008 13,956 514 675 22,112 2,535 425 39B,021 212,746 TOTAL FUNDS 1,458,953 (1.351,533J 107,420 One Church Leicester .Motes to the flnandal ststements for the year ended 3t December 2024 21 MOVEMENT IN FUNDS (CONTINUED) Restrlrted funds Open Hands Fund5 given by members of One Church for the work of Open Hands TnA5t Change One Funds glven by for the swpport of school children In the Mukuri slurn in Ken￿￿ Mlsslon fuhd Funds givLYb specsfically for fflfssfon can only be spent for mission Warrn Wekome Space and LCC Ward Flnmce 8rant5 The WanTh Welcome Space grant has been glven towards utSltves at the Oak Centre and the LCC Ward Finance grant has been given towards the Oak Centre Ple Lunch project Speclflc Glvln8 Inctuded in Speclflc gmng Is £1,25Q to the Impact youth project fn Braunstone, É212.69 to be dtstrfbuted to indivfduals and £631 towards any on8oln8 costs related to the deflbrlllator. Vlslon 2023 Thè remainln8 balance of the Vlskn) 2023 fund is restricted to Improvlng buildings. Vlslon 2025 Funds received speclflcally to bring down the ￿￿rtgage, to demollsh the ramp, to build up In the communSty and to build up fflini5tie5. Funds given to SLWOrt members of the deaf commÉr*Sty. Transfers between funds Transfers were made from grants and speclfic 8fvln8 to unrestricted fuThJs whlch represert capitsl expenditure aquired for genernl use and not for a restricted purpose. Transfets were also made from restricted fwds to unrestricted for the additfonal mortgage paymènts made during the year. 23 One Church Lelcester Notes to the flnancial statements for the year ended 31 December 2024 Comparative5 for movement In funds Net Transfers movement between fn furKIs funds At 1.1.23 At 31.12.23 Unrestrlrtéd fvnds General 1,361,994 87,473 943,940 2,393,407 1,361,994 87,4n 943,94 2,393,407 Restricted funds Building fund Mis$lons Grants Specific Giving Ukrafne Appeal . ANCL Michelle Arthur - ANCL Open Hand5 Blesslng Fund l￿dow5 & Fami(y larder - ANCL Community {1%1 Fund . ANCL Vlslon Offering 688,641 9,714 233,769 {9,714) 21,763 1922,410) (21,470) 250 (200) (110) 2,639 1.293 862 2(X) 110 (2,687> {1,507) 511 (511) 2,128 (2,128) 169,0 169,090 703,608 411,5TI (943,940) 171,245 TOTAL FUNDS 499,050 2,564,652 24 One Church Lefce5ter Notes to the ffnanclal statements for the year ended 31 December 2024 21 AIOVEMENT IN FUNDS (CONTINUED) Cornparative net movement in fwds, i￿luded in the above are a5 follows: Inc(Mning Resources Movement In resources expended funds Unre5trlcted funds General fund 1,116,729 (1,029,256) 87.473 Restrlcted funds Building Fund Change One MiSsi￿S Grants Specific Giving Open Hands Blessing Fund Vision Offerffig 233,769 28,393 6,425 25,648 20,n2 8,681 1,126 180,330 233,769 (28,393) {t6,139) 13,885) (19,859) {11,368) (2,633) (11,240) (9,714) 21,763 863 (2.687) 11,507) 169.090 505,094 (93,517) 411,577 TOTAL FUNDS 1,621,823 (1,122,773) 499,050 25 One Churth LeI￿ster Notes to the flnancial statements for the yw ende70 14,920 21,123 62,135 6,328 3,244 4,881 7,299 49,836 1,461 971,854 401,219 22,653 40,862 2,962 41,102 2,363 14,586 9,804 71,395 24,335 5,817 15,855 29,241 62,263 12,029 1,290 45,892 803,668 Supwt Costs Flnance Bank charyes 6,453 5,040 Government costs Fee Legal fees 14,195 16,156 Total resources expended 1,351,533 1,122,773 Net {expenditure)/tncome 10.7,420 499,050 Thls page doe5 not fom part of the statutory statements.