Annual Report and Financial Statements for the Year Ended 31 December 2024
The Slade Evangelical Church
Charity registration number: 1173777
Independent Examiners Ltd The Grain Store Hills Barns Appledram Lane South Chichester West Sussex PO20 7EG
THE SLADE EVANGELICAL CHURCH
CONTENTS
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 to 21 |
THE SLADE EVANGELICAL CHURCH
REFERENCE AND ADMINISTRATIVE DETAILS
Trustees
Richard Evans Graham Gay Andrew Laws Wesley McNabb Martin Harrison Antonio Carvalho Dias Philip Acheson Darrell Jones Charles Erhabor John Friday Colin White (appointed 1 April 2024)
Charity Registration 1173777 Number Principal Office 38 The Slade London SE18 2NB Independent Examiner G W Schulz FCMA Independent Examiners Ltd The Grain Store Hills Barns Appledram Lane South Chichester West Sussex PO20 7EG Bankers The Co-operative Bank 1 Balloon Street Manchester M60 4EP
Page 1
THE SLADE EVANGELICAL CHURCH
TRUSTEES' REPORT
The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2024.
Structure, governance and management
Nature of governing document
The church was founded originally as ‘The Slade Mission’ in 1880, being renamed ‘The People’s Hall Evangelical Free Church’ in 1921. The current name, ‘The Slade Evangelical Church’ was adopted in 1999. The original Charitable Scheme was drawn up by the Charity Commissioners and sealed on 10th December 1940. An updated scheme was then put in place on 28th February 1996. Its charity number was 241336. A new constitution establishing a Charitable Incorporated Organisation (CIO) was approved by the Charity Commission in July 2017. The charity number is 1173777. The church properties were transferred to the CIO in 2019 and the remaining assets were transferred from the Unincorporated Charity (no. 241336) on 1 January 2020. The principal address is 38 The Slade, Plumstead Common, London SE18 2NB.
Organisational structure
The CIO constitution determines that all church officers (elected elders and deacons) are trustees. The trustees formally meet together at least three times per year to discuss and make necessary decisions concerning ongoing church business. Formal church members’ meetings are held at least twice each year at which the trustees report to and are answerable to members with reference to their own individual areas of responsibility within the church. All church officers undergo DBS checks.
The weekly handling and banking of donations made to the church through the Sunday offerings and in other ways is conducted by a small team of church members headed by the Treasurer. The Treasurer presents a financial summary displaying the current financial position at each of the trustees’ meetings as well as making a report to the church membership as a whole twice each year in advance of the members’ meetings.
Risk management
The trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Objectives and activities
The object of The Slade Evangelical Church continues to be to advance the Kingdom of God through faith in Jesus Christ as Lord and Saviour. The church’s mission statement is “to know Christ better and to make Him better known” and thereby seeks to exercise a ministry both to Christian believers and those who have yet to make such a commitment.
The main way in which the church seeks to achieve its objectives is by the provision of thorough Biblical teaching and preaching both in Sunday worship and ministry services and via various midweek ministries which operate through the year. These include small groups meeting in members’ homes for Bible study, prayer and fellowship; youth groups; meetings for older people and people in their 20s and 30s; a parents/carers and toddlers group and events aimed towards families.
Page 2
THE SLADE EVANGELICAL CHURCH
TRUSTEES' REPORT (CONTINUED)
The Christianity Explored course is run at regular intervals giving an opportunity for people to explore the Christian faith in greater depth in a discussion group environment. The church devotes a significant proportion of its income towards the support of a number of Christian missionaries around the world and in the UK.
In September our Associate Pastor, Colin White, headed up the Crosslands Pastoral care Foundation Course, which involved online completion of units and in person meetings.
The church is self-governing and in financial terms is dependent upon giving from its members. It is affiliated to the Fellowship of Independent Evangelical Churches (FIEC) and as such makes a monthly contribution to support FIEC in its work of providing support to other like-minded independent churches across the United Kingdom, including training, church planting initiatives and legal and financial support.
Public benefit
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Achievements and performance
Review of activities
In April 2024 the church appointed Colin White as Associate Pastor.
During the year 9 people were newly welcomed into church membership. 4 people baptised. 3 members were called home - Total membership of the Slade Church at present is 140.
The Tuesday Leisure Fellowship group for retired people continued to meet on a fortnightly basis for fellowship and a short service.
The group for mothers and babies/toddlers, Junior Jivers, continued to meet on a weekly basis with several non-church families attending.
The Slade Sunday Services –The live streaming of services has continued to cater for those who are unable to attend in person with the recordings remaining accessible from the church website after the service itself. The change to our Sunday evening meetings introduced in 2022 continued with, the first Sunday used for training, second church prayer night, third women’s meeting and fourth men’s fellowship. Youth meetings were held in the evening during term time for 11-18 year olds.
In early November we started a 6-week two services trial to help with overcrowding returning to the one service in the lead up to Christmas. This was reviewed in early 2025 and, following a period of increasing the numbers serving in the various ministry teams, the two services were restarted in late September 2025.
Giving to the work of the church during the period continued to be encouraging and significantly exceeded budgeted figures. General giving was around 25% up on the 2023 level.
Page 3
THE SLADE EVANGELICAL CHURCH
TRUSTEES' REPORT (CONTINUED)
The church was also blessed to receive a legacy of £131,000 towards the end of the year and was able to use £117,000 of this to completely pay off the mortgage that had been taken in 2020 to help to fund a complete refurbishment of the main worship area.
The trustees nominate an outside organisation each year for the Slade Christmas offering. For Christmas 2024 this offering was given to the work of Open Doors for their Children at Christmas appeal and raised £5,285.
Health and Safety – The usual boiler, water heater and fire extinguisher checks were organised to comply with health and safety legislation. PAT testing was undertaken at the church building and at the property owned by the church at 36 The Slade. Regular fire safety checks were carried out monthly and records were kept. The church Manse, the property at 36 The Slade and the church also underwent gas safety checks and boiler servicing. The deep cleaning of the church cooker was completed.
The Church have in place a safeguarding policy’ and a food hygiene policy. Safeguarding training was held this year for youth workers and for people who serve on Sundays.
General Data Protection Regulations (GDPR) following the enforcement of this new ruling in May 2018, in 2024 Church Members and Church attendees were asked to confirm that their details were up to date on the Church Suite database which is used by the Church.
36 The Slade , the neighbouring house belonging to the church , is now occupied by our Associate Pastor, his wife and baby daughter. The house was redecorated and some new carpets laid before their moving in and all landlord’s safety checks have continued since his occupancy.
The other church property at 3 Doran Grove continues to be occupied by pastor Wes McNabb and his wife. Work was done on the house during the year to refurbish the shower room and to fit a new porch and front window.
Financial review
Policy on reserves
The trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The trustees aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The trustees will endeavour not to set aside funds unnecessarily.
Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.
Page 4
THE SLADE EVANGELICAL CHURCH TRUSTEES' REPORT (CONTINUED)
Statement of Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The annual report was approved by the trustees of the charity on 29 October 2025 and signed on its behalf by:
Richard Evans
......................................... Richard Evans Trustee
Page 5
THE SLADE EVANGELICAL CHURCH
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE SLADE EVANGELICAL CHURCH
I report to the trustees on my examination of the accounts of The Slade Evangelical Church for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity trustees of The Slade Evangelical Church 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 The Slade Evangelical Church's accounts carried out under section 145 of the 2011 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 Slade Evangelical Church'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 I am qualified to undertake the examination because I am a member of the Chartered Institute of Management Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of The Slade Evangelical Church as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) 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.
...................................... G W Schulz FCMA
Independent Examiners Ltd
29 October 2025
Page 6
THE SLADE EVANGELICAL CHURCH
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| Note Unrestricted funds £ Income and Endowments from: Donations and legacies 2 370,349 Charitable activities 3 15,380 Investment income 4 - Total income 385,729 Expenditure on: Charitable activities 5 271,645 Total expenditure 271,645 Gains/losses on investment assets - Net income 114,084 Transfer between funds 554 Net movement in funds 114,638 Reconciliation of funds Total funds brought forward 1,455,908 Total funds carried forward 14 1,570,546 |
Restricted funds £ 22,198 - 554 22,752 21,311 21,311 580 2,021 (554) 1,467 37,402 38,869 |
Total 2024 £ 392,547 15,380 554 408,481 292,956 292,956 580 116,105 - 116,105 1,493,310 1,609,415 |
Total 2023 £ 228,820 39,499 541 |
|---|---|---|---|
| 268,860 | |||
| 251,300 | |||
| 251,300 | |||
| 1,257 | |||
| 18,817 - |
|||
| 18,817 1,474,493 |
|||
| 1,493,310 |
The notes on pages 9 to 21 form an integral part of these financial statements. Page 7
THE SLADE EVANGELICAL CHURCH
BALANCE SHEET AS AT 31 DECEMBER 2024
| Note Fixed assets Tangible assets 8 Investments 9 Current assets Debtors 10 Cash at bank and in hand Creditors: Amounts falling due within one year 11 Net current assets Total assets less current liabilities Creditors: Amounts falling due after more than one year 12 Net assets Funds of the charity: Restricted income funds Restricted funds Unrestricted income funds Unrestricted funds Total funds 14 |
2024 £ 1,411,425 25,844 1,437,269 28,048 265,084 293,132 (120,986) 172,146 1,609,415 - 1,609,415 38,869 1,570,546 1,609,415 |
2023 £ 1,438,967 25,265 |
|---|---|---|
| 1,464,232 | ||
| 41,374 117,396 |
||
| 158,770 (9,962) |
||
| 148,808 | ||
| 1,613,040 (119,730) |
||
| 1,493,310 | ||
| 37,402 1,455,908 |
||
| 1,493,310 |
The financial statements on pages 7 to 21 were approved by the trustees, and authorised for issue on 29 October 2025 and signed on their behalf by:
Richard Evans
......................................... Richard Evans Trustee
The notes on pages 9 to 21 form an integral part of these financial statements. Page 8
THE SLADE EVANGELICAL CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
The Slade Evangelical Church meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Donations and legacies
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
Gift aid
Income from tax reclaims are included in the SOFA during the same period as the gift to which they relate.
Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
Investment income
Dividends and interest on funds held on deposit are included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the dividend or interest paid or payable by the bank.
Page 9
THE SLADE EVANGELICAL CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £500 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
| Asset class | Depreciation method and rate |
|---|---|
| Land and buildings | No depreciation |
| Fixtures and fittings | 10% reducing balance |
| Motor vehicles | 25% straight line |
| Equipment | 25% straight line |
No depreciation is charged to freehold property (land and buildings) as the property is maintained to such a standard that the estimated residual value is not less than cost.
Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Page 10
THE SLADE EVANGELICAL CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Liabilities
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Pensions and other post retirement obligations
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Page 11
THE SLADE EVANGELICAL CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)
2 Income from donations and legacies
| Unrestricted funds General £ Donations and legacies; Donations 202,439 Legacies 131,000 Gift aid reclaimed 36,910 370,349 3 Income from charitable activities Unrestricted funds General £ Teaching and ministry 10,367 Events 3,597 Property rent 423 Miscellaneous 993 Reimbursments - 15,380 4 Investment income Unrestricted funds General £ Income from dividends; Dividends receivable from other unlisted investments - |
Restricted funds £ 19,648 - 2,550 22,198 Restricted funds £ - - - - - - Restricted funds £ 554 |
Total 2024 £ 222,087 131,000 39,460 392,547 Total 2024 £ 10,367 3,597 423 993 - 15,380 Total 2024 £ 554 |
Total 2023 £ 191,453 - 37,367 |
|---|---|---|---|
| 228,820 | |||
| Total 2023 £ 4,753 4,161 14,153 2,536 13,896 |
|||
| 39,499 | |||
| Total 2023 £ 541 |
Page 12
THE SLADE EVANGELICAL CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)
5 Expenditure on charitable activities
| Note Teaching and ministry Youth and children Evangelism Mission Gifts to individuals/organisations Property Repairs and maintenance Music and audio-visual Administration Interest Independent examination Depreciation, amortisation and other similar costs Staff costs 7 |
Unrestricted funds General £ 15,294 9,523 4,146 17,959 - 16,740 24,816 2,572 12,976 - 2,160 27,542 137,917 271,645 |
Restricted funds £ - - - 12,149 - - - - - 9,162 - - - 21,311 |
Total 2024 £ 15,294 9,523 4,146 30,108 - 16,740 24,816 2,572 12,976 9,162 2,160 27,542 137,917 292,956 |
Total 2023 £ 8,321 7,954 2,834 32,004 10,000 18,172 10,768 2,125 9,302 8,491 2,160 33,295 105,874 |
|---|---|---|---|---|
| 251,300 |
Page 13
THE SLADE EVANGELICAL CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)
6 Trustee and related party transactions
Three trustees received remuneration of £99,243 (2023: Two trustees £75,401) and benefits in kind in the form of pension contributions of £4,902 (2023: Two Trustees £3,770) in the current year.
Mrs A Gay, sister-in-law of Graham Gay, a trustee, received remuneration of £8,292 (2022: £8,300).
No other payments were made to trustees or any persons connected with them during this financial period, other than reimbursement for purchases made on behalf of the charity.
7 Staff costs
The aggregate payroll costs were as follows:
| 7 Staff costs The aggregate payroll costs were as follows: |
||
|---|---|---|
| Staff costs during the year were: Wages and salaries Social security costs Pension costs |
2024 £ 125,891 6,005 6,021 137,917 |
2023 £ 97,561 3,435 4,878 |
| 105,874 |
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
| 2024 | 2023 | |||
|---|---|---|---|---|
| No | No | |||
| Staff | 4 | 3 |
No employee received emoluments of more than £60,000 during the year
8 Tangible fixed assets
| Cost At 1 January 2024 At 31 December 2024 |
Land and buildings £ 1,153,303 1,153,303 |
Fixtures and fittings £ 560,130 560,130 |
Equipment £ 6,244 6,244 |
Total £ 1,719,677 |
|---|---|---|---|---|
| 1,719,677 |
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THE SLADE EVANGELICAL CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)
| Depreciation At 1 January 2024 Charge for the year At 31 December 2024 Net book value At 31 December 2024 At 31 December 2023 |
Land and buildings £ - - - 1,153,303 1,153,303 |
Fixtures and fittings £ 274,466 27,542 302,008 258,122 285,664 |
Equipment £ 6,244 - 6,244 - - |
Total £ 280,710 27,542 |
|---|---|---|---|---|
| 308,252 | ||||
| 1,411,425 | ||||
| 1,438,967 |
Page 15
THE SLADE EVANGELICAL CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)
9 Fixed asset investments
Other investments
| Cost or Valuation At 1 January 2024 Revaluation At 31 December 2024 Net book value At 31 December 2024 At 31 December 2023 Investments are listed at market value at the year end date. |
Unlisted investments £ 25,265 579 25,844 25,844 25,265 |
Total £ 25,265 579 |
|---|---|---|
| 25,844 | ||
| 25,844 | ||
| 25,265 | ||
10 Debtors
| Prepayments Accrued income 11 Creditors: amounts falling due within one year Bank loans Other creditors Accruals |
2024 £ 5,577 22,471 28,048 2024 £ 116,832 1,890 2,264 120,986 |
2023 £ 5,100 36,274 |
|---|---|---|
| 41,374 | ||
| 2023 £ 7,100 705 2,157 |
||
| 9,962 |
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THE SLADE EVANGELICAL CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)
12 Creditors: amounts falling due after one year
| Bank loans | 2024 £ - |
2023 £ 119,730 |
|---|---|---|
The building improvements were partly funded by a bank loan repayable over 15 years and secured on the property at 36 The Slade, London SE18 2NB. The total amount outstanding at the year end was repaid in January 2025 and is included in current creditors.
13 Pension and other schemes
Defined contribution pension scheme
The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to - £6,021 (2023 £4,878).
Contributions totalling £1,891 (2023 - £705) were payable to the scheme at the end of the year and are included in creditors.
Page 17
THE SLADE EVANGELICAL CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)
14 Funds
| Unrestricted funds General General Funds Restricted funds Burrage Grove Social & Evangelism RMH roof fund Special offerings Building development India School Training & Mission Mission fund Total funds |
Balance at 1 January 2024 £ 1,455,908 9,467 15,800 1,032 4,025 2,802 2,276 2,000 - 37,402 1,493,310 |
Incoming resources £ 385,729 - 554 - 4,104 11,638 1,176 - 5,280 22,752 408,481 |
Resources expended £ (271,645) - - - (5,004) (9,162) (1,865) - (5,280) (21,311) (292,956) |
Transfers £ Other recognised gains/(losses) £ 554 - - 198 (554) 382 - - - - - - - - - - - - (554) 580 - 580 |
Balance at 31 December 2024 £ 1,570,546 9,665 16,182 1,032 3,125 5,278 1,587 2,000 - |
|---|---|---|---|---|---|
| 38,869 | |||||
| 1,609,415 |
Page 18
THE SLADE EVANGELICAL CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)
The "Burrage Grove Trust" and the "Social and Evangelism" fund balances are represented by the investments shown in note 7. All other fund balances are wholly represented by cash reserves. Burrage Grove dividends are transferred to the general fund for youth work.
Social and Evangelism dividends are transferred to the general fund to be used to fund social and evangelistic events and are allocated to catering.
The Building Development Fund has been set up to enable people to make gifts specifically to be used for the improvement and development of the buildings owned by the church. The terms of these donations were met once the building improvements were completed in the year, therefore allowing the charity to use the asset on an unrestricted basis for any charitable purposes.
The India School Fund relates to funds given specifically to support this cause.
The Training and Mission Fund is a fund set aside by the church officers to enable the support of those called to undertake mission training or short-term mission trips.
Page 19
THE SLADE EVANGELICAL CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)
| Unrestricted funds General General Funds Restricted funds Burrage Grove Social & Evangelism RMH roof fund Special offerings Building development India School Training & Mission Mission fund Total funds |
Balance at 1 January 2023 £ 1,442,469 9,006 15,004 1,032 3,322 - 1,660 2,000 - 32,024 1,474,493 |
Incoming resources £ 236,394 - 541 - 14,495 11,293 1,097 - 5,040 32,466 268,860 |
Resources expended £ (223,496) - - - (13,792) (8,491) (481) - (5,040) (27,804) (251,300) |
Transfers £ Other recognised gains/(losses) £ 541 - - 461 (541) 796 - - - - - - - - - - - - (541) 1,257 - 1,257 |
Balance at 31 December 2023 £ 1,455,908 9,467 15,800 1,032 4,025 2,802 2,276 2,000 - |
|---|---|---|---|---|---|
| 37,402 | |||||
| 1,493,310 |
Page 20
THE SLADE EVANGELICAL CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)
15 Analysis of net assets between funds
| Current year Tangible fixed assets Fixed asset investments Current assets Current liabilities Total net assets Prior year Tangible fixed assets Fixed asset investments Current assets Current liabilities Creditors over 1 year Total net assets |
Unrestricted funds General £ 1,411,425 - 280,107 (120,986) 1,570,546 Unrestricted funds General £ 1,438,967 - 146,633 (9,962) (119,730) 1,455,908 |
Restricted funds £ - 25,844 13,025 - 38,869 Restricted funds £ - 25,265 12,137 - - 37,402 |
Total funds at 31 December 2024 £ 1,411,425 25,844 293,132 (120,986) |
|---|---|---|---|
| 1,609,415 | |||
| Total funds at 31 December 2023 £ 1,438,967 25,265 158,770 (9,962) (119,730) |
|||
| 1,493,310 |
Page 21