THE INTERNATIONAL PRESBYfERIAN CHURCH Ealing REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Charlty Number: 1171604 JCS Accountants Ltd 5 Robln Hood Lane Sutton Surrey SM12SW
THE INTERNATIONAL PRESBYfERIAN CHURCH Ealing REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Contents Pa9e Reference and administrative details Trustees, Report Independent Examiner's Report Statement of Financial Activities Balance Sheet Statement of Cash Flows Notes to the Financial Statements 10-17
THE INTERNATIONAL PRESBYfERIAN CHURCH Ealing REFERENCE AND ADMINISTRATIVE DETAILS Trustees and Elders APLewy C Cradock R Hunter (appointed 1 April 2024) A Little P Lofthouse ARae J Silva J Willcox Chief Executive (Senior Pastor) APLevy Key Management Personnel APLevy Principal office 53 Draon Green West Ealing London W13 OJE Independent Examiners JCS Accountants Ltd 5 Robin Hood Lane Sutton Surrey SM12SW Bankers Lloyds 45 The Broadway Ealing London W5 Barclays Bank plc 53 The Broadway Earing London W5 Charlty reglstratlon number: 1171604 Page 1
THE INTERNATIONAL PRESBYfERIAN CHURCH Ealing TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their report and the financial staternents of The International Presbyterian Church Ealing for the year ended 31 March 2025, which have been prepared in accordance with the Charities Statement of Recommended Practice (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102). Structure, governance and management The International Presbyterian Church is a charitable incorporated organisation (CIO) formed on 14 February 2017.The assets and liabilities of the unincorporated founding charity, the International Presbyterian Church Ealing Congregation, were gifted to the CIO on 1 March 2017. IPC Ealing is a congregation of The International Presbyterian Church and is a member of the First IPC Presbytery of England. The government of the church is Presbyterian. The CIO has power to do anything which is calculated to further its objects or is conducive or incidental to doing so. Membership of the CIO is open to anyone who (i) has been baptised, whether as a child or an adult. (li) demonstrates a credible profession of faith in the Lord Jesus Christ as their Saviour and Lord; (iii) has publicly declared and affirmed to the Congregation their profession of faith and acptanCe of membership, whether verbally or in writing,. and (iv) unless the charity trustees otherwise allow, is not a member of any other church. The charity trustees have discretion whether or not to admit a person to membership (a decision not to admit must be supported with reasons and is open to appeal). The charity trustees are responsible for managing the affairs of the CIO and are permitted to exercise all of the powers of the CIO. All charity trustees must be rnembers of the CIO and may only be eligible for a trusteeship if (i) ordained as an Elder in accordance with the Book of Church Order. {ii) is over 16 years of age: and (iii) must not be excluded from holding the position by virtue of sections 178 to 180 Charities Act 2011. All charity trustees must expressly acknowledge their acceptance of the office of a charity trustee. New trustees will undergo training such as that provided by Stewardship and existing trustees will have training scheduled in this current financial year, this then to be repeatedlrefreshed on a regular basis or as and when appropriate. Charity trustees may delegate their powers or functions to a committee or comrnittees within the Church. The charity trustees have overall responsibility for the affairs of the CIO, but have delegated responsibilities for the spiritual oversight of the congregation to the Elders and the administration of the finances and care of the property to the Deacons. One of the Elders (the minister Paul Levy) oversees the day-to-day running and administration of the church and he meets formally with the other Elders regularly to monitor progress of the church and plan for the future. His responsibility, for which he is paid, is to carry out pastoral work and the majority of the teaching on a full- time basis. The Trustees met on 10 occasions during the year to review the Trust's activities. The Elders met on a fortnightly basis and the Deacons once every two months, and both reported to the congregation at least lce a year as part of the Annual General Meeting and a half-yearly meeting. The key management personnel of the church as listed on page 1 are in charge of directing, controlling, running and operating the church on a day to day basis. All Elders (except the Senior Pastor and Associate Minister) give of their time freely and only those Elders on the church staff received any remuneration in the year. Details of Elders, expenses and related party transactions are disclosed in Note 7 to the financial statements. The pay of the Senior Pastor and other senior staff is reviewed annually and normally increased in accordance with average earnings. Page 2
THE INTERNATIONAL PRESBYfERIAN CHURCH Ealing TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 (continued) Objects of the Church The objects of the CIO are (a) to advance the Christian religion through the public worship of God and the preaching and teaching of the Holy Scriptures of the Old and New Testaments., (b) such other charitable purposes as the charity trustees from time to time may think fit. The principal activities of the church These are the conduct of services on a Sunday. prayer meetings, bible study groups, the running of children's clubs and the provision of any other services in response to needs identified in the local community, such as the teaching of English as a foreign language. Public Benefit The Trustees are aware of their duty, set out in section 4 of the Charities Act 2006, to have due regard to the public benefit guidance published by the Charity Commission. They therefore always ensure that the church's activities are in line with its objects which are set out earlier in this report. They seek to proclaim the teaching and example of Jesus Christ. These are widely recognised by people of other faiths (and none) as being of the highest ethical standards and upon which much of this country's legal system has been based. By setting forth these standards and encouraging those who attend the church services to follow and apply them in daily life, as well as engaging in the other activities set out above and in the following paragraph, the church makes a positive input into the community. Revlew of Progress - 24125 The Trustees aim to continue the church's work as set out in the above paragraph and will continue to look for other ways of pursuing the objects of the Church as set out earlier in this report, this is not limited to our physical location as we meet as small groups both in person in people's houses and online via video conference. During this year we continued to hold our Sunday worship services in our own building in Drayton Green. We have added a number of new members to the congregation and our current voting membership stands at 153. The Church has deepened its commltment to the task of the public worship of God by.. Continuing to meet publicly for worship on Sundays, both in the morning and evening and also on Tuesday lunchtimes We have run Children's and Young people's clubs in person. for school years 1-6 & 7-12 We have developed our online presence to enable those who were not able to meet with us in person with a small but regular attendee group including those whose physical ailments prevent attendance in person. The exercise of Pastoral care Running a parent and babiesl toddler group, this year this has expanded into the main hall and has seen numbers of 60 babiesltoddlers (plus carerslparents) in attendance English language Class for women Taking part in the Blythswood Shoebox appeal which sends shoeboxes of gifts to the needy. Running a Bible study for Farsi speakers with new resource added to this work who have Farsi language skills. Running a Hope Explored group Running a ministry amongst Japanese people living in West London. This ministry has continued to meet three Sunday afternoons a month over the past year The continuing work of Hope Pregnancy Centre as a Charity We have reduced the loan on the building considerably to around £205,000 We host IPC Presbytery once or twice a year, which is where the leaders of our denomination meet together- We host a Theology conference with people coming from all over the UK and beyond with visitors from sister churches in the Philippines and Eastern Europe Page 3
THE INTERNATIONAL PRESBYfERIAN CHURCH Ealing TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 (continued) Review of Progress (continued) On Sundays we have Christian education groups for both Children and Adults. We have run a Holiday Bible Club for children in the community and in our church, held in the summer holidays too We have continued a Free English Class in the evening for people in the area We hosted Ealing Churches winter night shelter for two months during JanlFeb We have seen both our Sunday morning and Sunday evening congregations growing in numbers We have begun a Pastoral Drop in twice a month to allow people to access Pastoral care Church Staff In addition to the Minister. we have continued to employ our Japanese Mission worker Yuki Maeda, Reuben Hunter has continued his role as Associate Minister and Andrew Kueh also as Assistant Minister. We currently have two volunteers working with us from the United States - Kersten Kazen volunteers at Hope Pregnancy Centre and Christopher Kitchen works with us seeking to help us reach out to the Persian community locally. Dawson Bean has moved on from church staff at the end of his 2-year term in the summer of 2024. We were joined in September 2024 by our first Minister in Training Harry Ovey who will be with us for a year in the hope of going on to Theological College afterwards. Lori Cromie has joined the church staff as Church Manager in a 3 day a week role. We have been delighted to see 4 new elders Ordained in our congregation: Olly Mallett, Yuki Maeda. Paul Felix and Andrew Kueh. A number of our elders (trustees) serve in our denomination. Chris Cradock chairs the Global Oversight Committee which works with churches overseas wanting to join the denomination, Chris also serves on the Candidates and Credentials Committee. Paul Levy serves on the Church Planting Committee and is a trustee of Grace Church, Hammersmith (IPC). John Silva and Jono Willcox have served on the committee for admitting new congregations to the IPC. As an eldership we have helped Christ Church, Headington whilst they don't have an eldership of their own yet. Financial Review and Reserves The church was in a stable financial position at the end of the financial year. The majority of the charity's income is donations from church members and general giving has remained at a suitable level to support the ongoing work of the church. At the end of the financial year the charity had total reserves of £2,910,715 (2024: £2,742,203) of which £106,202 (2024: £85,487) were restricted and £2,618,047 (2024.. £2,620,398) is invested in fixed assets. The remaining free resen4es of £186,466 are in excess of the £45.000 minimum required by the reserves policy. We are grateful that a significant amount has been paid off against the building loan. We continued supporting a missionary from our congregation in his work in France. Grant making policy There are established processes by which the church gives rnoney to other organisations and individuals. Mission partners are supported via grants to their sending denominationl churches l organisation. Funds are raised for these as part of our regular allocated giving I special offerings I fund raising events. Donations are made to other causes as needs come to our attention and funds available.. Future Plans We are continuing to expand the work of Hope Pregnancy Centre and are working in partnership with another local church Dean Hall Christian Centre to see a potential place for Hope Centre. We wish to prioritise paying off the capital on the building loan over the coming years We desire to buy a residential propety in the area to enable us to house future workers for the church We continue to support Church Plants in London and are exploring what possibilities there are to plant a church in West London Page 4
THE INTERNATIONAL PRESBYfERIAN CHURCH Ealing TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 continued) Risk Analysis and Management The Trustees and Elders regularly consider the potential risks the Church encounters in the routine operations in which it is engaged. They consider these in connection with finance, strategic planning. operational. environmental and regulatory issues. Whilst they recognise it is not feasible to be involved in any activity without being subject to certain risks, they hold the view their policies reduce these to an acceptably low level and do not believe any further action by them is necessary at this present time. Based on these considerations, the Trustees and Elders believe the most relevant risks, and the means by which they may be mitigated, to be: Risks: Reduction in income from voluntary donations Unforeseen repair work Plans for expansion Mitigation.. We encourage and welcome new members and attendees to give to the life of the church We undertake a regular review of church finances, by deacons and congregational meetings twice a year. We also actively seek funding for specific projects from outside donors We aim to keep financial reserves at typically 3 months expenditure. Trustees. Responslbllities The law requires those responsible for the administration of charities to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charity and of the surplus or deficit of the charity for that year. In preparing those financial statements, they are required to.. select suitable accounting policies and apply them consistently; observe the methods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis. They have overall responsibility for ensuring that the charity has appropriate systems of control, financial and othep¥ViSe. Those responsible for the administration of charities are required to keep proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. For and on behalf of the trustees AfA/T APLevy 16 December 2025 Page 5
INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF THE INTERNATIONAL PRESBYfERIAN CHURCH Ealing I report to the charity trustees on my examination of the accounts of the International Presbyterian Church Ealing (the Charity) for the year ended 31 March 2025. Responsibilities and basis of report As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the Trust's accounts as carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent examiner's statement Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confinn that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the Trust as required by section 130 of the Act,. or the accounts do not accord with those records; or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Report) Regulations 2008 other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Miriam Hickson CTA FCA JCS Accountants Ltd 5 Robin Hood Lane Sutton Surrey SM12SW 22 Do(AknkJ2025 Page 6
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THE INTERNATIONAL PRESBYfERIAN CHURCH Ealing BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Note Fixed assets Tangible assets 2,618,047 2,620,398 Current assets Debtors Cash at bank and in hand 10 93.255 429 233 522,488 76,214 323 825 400,039 Creditors: amounts falling due within one year 11 (56 563) (46 204) Net current a55ets 465 925 353 835 Total assets less current liabilities 3,083,972 2,974,233 Creditors: amounts falling due after more than one year Net assets 12 ( 173257) (232 030) Reserves Restricted funds Unrestricted income funds 13 13 106,202 2804 513 85,487 2 656 716 Total charity funds Approved by the Trustees on 16 December 2025 and signed on their behalf by: Aff7 APLevy Chief Executive Page 8
THE INTERNATIONAL PRESBrfERIAN CHURCH Ealing STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Cash provided by operating activities (note (a) below) 205,297 97,930 Cash flows from investing activities Investment income Loan interest paid Payments for fixed asset additions Cash (used in) investing activities 1,816 (13,452) (29 480) 1,043 (13,814) (41,116) (12,771) Cash flows from financing activities Repayments of borrowing Cash (used in) financing activities (58 773) (40 957) (58 773) {40 957) Net cash inflow 105,408 44,202 Cash and cash equivalents at 1 April 2024 323 825 279 623 Cash and cash equivalents at 31 March 2025 (a) Reconciliation of net income to net cash flow from operating activltles Net Income 168,512 78,995 Depreciation Loan interest paid Investment income Increase in debtors Increase in creditors 31,831 13,452 (1,816) (17,041) 30,062 13,814 (1,043) (27,298) Cash provided by operatlng actlvlties (b) Analysls of changes In net debt At 1 April 2024 Cash flows Non•cash changes At 31 March 2025 Cash Loans falling due within one year Loans falling due after more than one year Total 323,825 (31,667> 105,408 429,233 (31,667) (232 030) (173 257) Page 9
THE INTERNATIONAL PRESBYfERIAN CHURCH Ealing NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES The International Presbyierian Church is a charitable incorporated organisation formed on 11 February 2017. The principal office is 53 Drayton Green. West Ealing, London W13 OJE. (a) Basis of accounting These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102"), "Accounting and Reporting by Charities" the Statement of Recommended Practice for charities applying FRS 102, the Charities Act 2011 and UK Generally Accepted Accounting Practice. The church is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the church. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, (b) Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial ststements. (c) Income Voluntary income and donations (including legacies) are accounted for once the charity has entitlement to the income, it is probable the income will be received and the amount of income receivable can be reliably measured. Where material assets are donated to the company for its use, these are capitalised at the estimated market value at the date of the gift and included under income. (d) Expenditure Expenditure is accrued as soon as a liability is considered probable, discounted to present value for longer term liabilities. Charitable expenditure includes all support costs in respect of the ompany's activities. (e) Grants payable Grants payable are accounted for as they are paid over. (fj Governance This comprises all the expenditure incurred in meeting the constitutional requirements of the charity and is included in charitable expenditure. Page 10
THE INTERNATIONAL PRESBYTERIAN CHURCH Ealing NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued) ACCOUNTING POLICIES (continued) (g) Fixed assets Land and buildings are included at historic cost. Freehold land is not depreciated. Where the charity adopts a policy of maintaining properties to a standard that prolongs their lives and enhances their residual value, the charity considers any depreciation arising to be insignificant and the properties are not depreciated. Where the buildings do not satisfy these criteria they will be depreciated. Freehold buildings in the course of construction are depreciated when ready for use. Fixtures, fittings and equipment are ststed at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life. as follows: Buildings Fixtures, fittings & equipment over 100 years over 3 years (h) Debtors Gift Aid recoverable and other debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid. (i) Cash and cash equlvalents Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of opening of the deposit. ') Credltors and provisions Creditors and provisions are recognised where the charity has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount. Concessionary loans are included at historic cost. (k) Flnanclal Instruments The charity only has financial assets and liabilities of a kind that qualrfy as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. (l) Penslon contributlons Contributions to personal pension schemes are charged as they fall due. Page 11
THE INTERNATIONAL PRESBYfERIAN CHURCH Ealing NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued) DONATIONS AND LEGACIES Unrestricted Restricted funds funds Total 2025 Total 2024 Donations and gifts Gift aid recoverable 423,414 143,113 566,527 383,628 INCOME FROM CHARITABLE ACTIVITIES Unrestricted Restricted funds funds Total 2025 Total 2024 Events Bookshop 903 903 326 GRANTS Unrestricted Restricted funds funds Total 2025 Total 2024 Institutional grants Mission All Nations Ilford UFM Worldwide London City Mission Ealing Churches Winter Night Shelter Operation Mobilisation European Mission Fellowship Reformed Evangelistic Fellowship Hope Pregnancy advice IPC Presbytery 6,000 7,658 5,344 2,500 2,336 4,981 1,409 5,198 6,000 7,658 5,344 2,500 2,336 4,981 1,409 5,198 7,300 4,748 1,343 5,375 Total institutional grants 68,025 68,025 43,931 Individuals Total grants Page 12
THE INTERNATIONAL PRESBYfERIAN CHURCH Ealing NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued) EXPENDITURE ON CHARITABLE ACTIVITIES Unrestricfed Restricted funds funds Total 2025 Total 2024 Grants (see note 4) Ministry costs Home Ministries Sound System Training costs Travel costs 12,534 25 12,534 25 13,599 860 Staff costs (see note 7) 157 723 237 407 177819 Church running costs Rent Water Rates Insurance Utilities Repairs and renewals Loan interest Building depreciation 37,189 145 10,714 17,847 12,804 37,189 145 10,714 17,847 15,905 13,452 16,200 10.077 16,463 9,576 13,814 3,101 13,452 104867 121420 Support costs Printing and stationery IT Software and consumables Telephone and postage Bank charges Governance costs (see note 6) Professional fees Fixture & fittings depreciation charge Miscellaneous expenditure 4,288 1,734 1,166 233 3,674 309 5,663 4,288 1,734 1,166 233 3,674 309 5,663 4,745 4,520 1,639 82 4,500 97 3,894 GOVERNANCE COSTS Total 2025 Total 2024 Independent Examination Accountancy 2,076 2,280 Page 13
THE INTERNATIONAL PRESBYfERIAN CHURCH Ealing NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued) STAFF COSTS AND RELATED PARTY TRANSACTIONS Total 2025 Total 2024 Salaries Employer's National Insurance contributions Employer's pension contributions 209,801 17,798 157.893 11,901 The average number of employees during the year was as follows.. 2025 No. 2024 No. Employees earning £60,000 - £70,000 A P Levy received remuneration of £69,297 (2024: £67,060) and pension contributions of £5,679 (2024.. £5,582) during the year as full time Pastor of the church. R Hunter became a trustee at the start of the year and received remuneration of £69,297 and pension contributions of £2,079 during the year as Associate Minister. These payments are permitted by the constitution of the CIO. No other trustees received remuneration. During the year, trustee's and Elder's travel expenses of £1,116 were reimbursed to 2 trustees (2024.. £1,107). The total employee benefits of Key Management Personnel during the year amounted to £83,284 (2024: £80,641). Durtng the year, the trustees and Elders made total unrestricted donations of £52,443 (2024: £48,176) and £8,191 (2024: £8,017) restricted donations to the charity. The Charity agreed to the payments of £5,198 and £250 to Hope Pregnancy Advice Centre for Pregnancy Advice and other small fees respectively in which J C Silva is a trustee (2024.. £5,375). TAXATION The charity is exempt from taxation on its charitable activities. Page 14
THE INTERNATIONAL PRESBYfERIAN CHURCH Ealing NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued) TANGIBLE FIXED ASSETS Freehold property Fixture & fittings Totals Cost At 1 April 2024 Additions 2,741,753 147,113 2,888,866 As at 31 March 2025 2 741753 176593 2 918 346 Depreciation At 1 April 2024 Charge for year 121.932 146,536 268,468 As at 31 March 2025 148 100 152 199 300 299 Net book value At 31 March 2025 At 31 March 2024 10 DEBTORS 2025 2024 Gift aid recoverable Other debtors 54,532 37,823 11 CREDITORS: Amounts falling due within one year 2025 2024 Bank loans Tax and social security Other creditors Accruals 31,667 5,974 1,925 31,667 4,921 1,163 12 CREDITORS: Amounts falling due after more than one year 2025 2024 Bank loans The bank loan is secured on the church property. Interest is charged at 5.40/0 and the loan is repayable by 31 December 2047. Instalments of £46,590 (2024.. £105,363) are due after more than five years. Page 15
THE INTERNATIONAL PRESBrfERIAN CHURCH Ealing NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued) 13 FUNDS 1 April 2024 31 March 2025 Income Expenditure Transfers Restricted Building Project Fund Church Furniture Mortgage Capital Uxbridge Fund Hardship Fund Staff support 45,898 1.708 1,254 12,505 8,874 28,848 (16,553) 58,193 1,708 27.700 (28.954) 12,505 4,330 1,874 ( 6,418) 79 684) (102,655) 85.487 152,324 (28,954) 106,202 Unrestricted General Fund 2 656 716 492 126 (373 283) 2 804 513 l April 2023 31 March 2024 Income Expenditure Transfers Restrlcted Building Project Fund Church Furniture Mortgage Capital Uxbridge Fund Support for Joanna McFarland Support for Reuben Hunter Hardship Fund Green Man Estate 39,590 1,708 24,940 (18,632) 45,898 1,708 1,254 12,505 19,036 (17,782) 12,505 7,034 (2,361) (44,425) (788) (1200) (67,406) (4.673) 4,673 55,000 1,349 15,248 8,874 8.313 70,350 100,325 (17,782) 85,487 Unrestricted General Fund 2 592 858 337 794 291718) 2 656 716 The Building Project fund receives donations to fund the building project. The Church Furniture and Mortgage Capital appeals are for new furniture for the building and to enable mortgage capital to be repaid. Where fixed assets are purchased or mortgage capital is repaid in the year from the restricted fund, a transfer is made to general funds. The Uxbridge Fund has been established to help meet the costs of a Church Plant in that area. The support funds are for specific staff members. Joanna McFarland left last year and the donors agreed for the funds to be used to support Reuben Hunter so a transfer has been shown. During the current year funds were received to support various staff members so the fund name was changed to reflect this. The Hardship Fund receives donations to support those in financial need. Page 16
THE INTERNATIONAL PRESBYfERIAN CHURCH Ealing NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued) 14 ANALYSIS OF NET ASSETS BETWEEN FUNDS 2025 Tangible assets Net current Long terni assets Total Restricted funds Unrestricted funds 106.202 359 723 106,202 2804 513 2618047 (173 257) 2024 Tangible assets Net current Long terni assets liabilities Total Restricted funds Unrestricted funds 85,487 268 348 85.487 2 656 716 2 620 398 (232 030) Page 17