Registered Charity No: 1174300
GLENDALE CHURCH
(CHARITABLE INCORPORATED ORGANISATION)
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024
GLENDALE CHURCH
(CHARITABLE INCORPORATED ORGANISATION)
CONTENTS
PAGE NO. |
|
|---|---|
| Legal & Administrative Information | 3 |
| Trustees’ Report | 4-5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8-14 |
| Independent Examiner’s Report to the Trustees | 15 |
GLENDALE CHURCH
(CHARITABLE INCORPORATED ORGANISATION)
LEGAL & ADMINISTRATIVE INFORMATION
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CHARITY NUMBER 1174300
DATE OF REGISTRATION 17 [th] August 2017
START OF FINANCIAL YEAR 1 [st] January 2024
END OF FINANCIAL YEAR 31 [st] December 2024
TRUSTEES Neil Atherton
Amy Gregory
Andrew How – resigned 12 [th] June 2025
Owen Joyce
Gordon Patterson (Chair) – resigned 30 [th] November 2024
Clifford Reeve
Ron Timms (Chair) – appointed 6 [th] March 2025
LEGAL STATUS Charitable Incorporated Organisation (CIO)
GOVERNING INSTRUMENT CIO – Association Registered 17 [th] August 2017
OBJECTS
To advance the Christian Faith, thus glorifying God and advance his Kingdom by means of public
worship, bible teaching, prayer, fellowship, partaking of the Lord’s Supper and evangelism. The Church
also desires to serve the local community in various ways with Youth and Children’s work and donates
to various appropriate organisations.
CORRESPONDENCE ADDRESS Broadway House
4-8 The Broadway
Newbury
RG14 1BA
BANKERS Royal Bank of Scotland
Hornchurch Branch
PO Box 4153
Hornchurch
Essex
RM12 4PS
INDEPENDENT EXAMINER Simon Green
17C Wendan Road
Newbury
Berkshire
RG14 7AG
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Page | 3
GLENDALE CHURCH
(CHARITABLE INCORPORATED ORGANISATION)
TRUSTEES REPORT FOR THE YEAR ENDED 31ST DECEMBER 2024
2024 was a year of growth for Glendale.
As well as continuing with core Church activities, we saw significant growth in the ministries which impact the local community, especially Replenish, our provision for parents, primary carers, infants and toddlers, with more than 25 families attending regularly, and the Friday evening Youth Cafe which provides a safe space for secondary school children, with more than 60 young people on the books and an average attendance of 30. Our CAP Life Skills course continued to impact the lives of participants in understanding their finances, the Bereavement Journey course brought comfort and help to people coming to terms with loss, and a number of people came to faith through the Alpha Course.
Overall, through our community outreach work, we had meaningful, often ongoing, contact with over 100 families from the local community. These initiatives improve the quality of life for the people accessing them, and share the love of God in tangible ways.
Sundays at Glendale consist of a morning service at The Well, Thatcham, and an evening service at Wash Common, Newbury. Attendance has continued to increase in the morning services, especially in the number of families with children. This has led to some overcrowding at the Well and work has been ongoing in looking for a larger premises. The Evening Service continues to meet a need and attendance has been steady.
In August, in recognition of the growth in attendance at the Well, we enhanced our usable space with the installation of a canopy area outside, facilitating more activities to happen outside at Replenish, Youth Cafe and during Sunday morning services.
There is a wide range of Life Groups in the church which is where relationships are built and people go deeper in their Christian walk. Life Groups are the first port of call for pastoral care for many in the church, and Life Group leaders are supported by the Leadership Team and Pastoral Group.
Glendale’s growth and fruitfulness is dependent on both the work of the Holy Spirit, and the faithful contributions of time and resources which come from within the congregation. The Leadership Team, Trustees and Staff recognise our need for God’s Spirit, and deeply appreciate the generosity of the Church for their financial contributions and for the more than 70 people who regularly volunteer their time.
Glendale Church continued to contribute to ‘Christians Together in the Newbury Area’ (CTNA), Churches Together in Thatcham (CTIT), Christian Outreach in Newbury schools (COINS), Christians Against Poverty (CAP) Newbury Debt Centre and continues its membership of the UK Evangelical Alliance. The Church continued to support Christian outreach and mission activities in various parts of the world, including Japan and Cambodia.
The Church employs a full-time Senior Leader, a part-time Leader of Youth Ministry, and a part time Administrator who oversees the practical aspects of Church Life. Through most of 2024 the Church also benefited from a volunteer intern who strengthened the capacity of the staff team.
During the year we said farewell to Gordon Patterson, our Chair of Trustees, and a founding member of the church more than 40 years ago, who has moved to a church more local to home. The Board of Trustees, Leadership Team and Church Council continue to function effectively.
Financial Review
The Board of Trustees has taken on its responsibilities to fulfil the requirements of The Charities Act 2011, preparing a statement for the financial year.
Income in year was £6,622 (5.2%) lower than the prior year at £120,945 (2023: £127,567) primarily due to no grants being received in year (2023: £5,827) and a year-on-year reduction in gift aid reclaimed (due to some catch up gift aid being recognised in 2023). Gifts, tithes and offerings income remained stable at £99,837 (2023: £100,077) .
Page | 4
GLENDALE CHURCH
(CHARITABLE INCORPORATED ORGANISATION)
TRUSTEES REPORT FOR THE YEAR ENDED 31ST DECEMBER 2024
Charitable Activities income increased to £2,054 in 2024 (2023: £719) from a greater number of events in year, including, a performance from Destiny Africa Choir, Uganda in October and a larger group of young people attending the Satellites festival in August. The charity also benefited from the higher average Bank of England base rate in 2024 which generated £2,183 bank interest (2023: £1,571).
Expenditure continued to remain stable at £125,309, £139 (0.1%) lower than in 2023 (2023: £125,448). Significant movements within this figure were the £7,843 (11.7%) increase in staffing costs to £74,620, reflecting a review by Trustees of the Senior Leader salary, offset by a £4,978 (32.7%) decrease in missionary and pastoral care costs to £10,248, which reflects the significant one-off gift in 2023. Other smaller movements included a £3,140 (72.5%) reduction in repairs and maintenance costs at The Well reflecting significant one-off electrical work in 2023 to £1,193; a £1,118 (81.9%) reduction in training costs to £247, again representing significant activity in 2023 and an £847 (159.2%) increase in legal & professional fees to £1,379 – including expenses for a 2 year Religious Worker visa planned to commence in June 2025 and the planning fees for the lean-to completed at the Well in August 2024 to facilitate the all year round use of the outdoor space.
The resulting £4,364 deficit (2023: £2,119 surplus), reflects all the movements highlighted above.
The Trustees are happy with the level of reserves of the charity at the year end, where there are a healthy and stable level of accessible cash funds £68,915 (2023: £67,842) to support ongoing operations and future planned activity as required. There have been no significant changes to the financial position subsequent to the year-end to be noted that might affect the Trustees judgement of the CIO in terms of going concern. Accounting records, which disclose with reasonable accuracy the financial position of the Trust, are available for those wishing to see them, and risk assessments ensure the safeguarding of the assets of the Trust are in place.
Trustees’ Responsibilities
The Charities Act 2011 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 CIO and of the surplus of the CIO for the period. In preparing those financial statements the trustees are required to:
-
Select suitable accounting policies and apply them consistently
-
Make judgements and estimates that are reasonable and prudent
-
Prepare financial statements on the going concern basis unless it is inappropriate to presume that the CIO will continue in existence
The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the CIO. They are also responsible for safeguarding the assets of the CIO and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Trustees and the Church membership at the Annual Church Meeting on 26th June 2025.
Signed on their behalf by Trustees:
Print Name: Neil Atherton Print Name: Ron Timms
Page | 5
GLENDALE CHURCH
(CHARITABLE INCORPORATED ORGANISATION)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024
| Note INCOMING RESOURCES Incoming Resources from Generated Funds: Donations & Legacies 3a Charitable activities 3b Investments 3c TOTAL INCOMING RESOURCES RESOURCES EXPENDED Cost of Generating funds: Charitable activities 4a TOTAL RESOURCES EXPENDED NET INCOMING/(OUTGOING) RESOURCES Total funds brought forward Transfers between funds TOTAL FUNDS CARRIED FORWARD |
Unrestricted funds 2024 £ 107,127 2,054 2,183 111,364 117,562 117,562 (6,198) 155,007 - 148,809 |
Restricted funds 2024 £ 9,581 - - 9,581 7,747 7,747 1,834 177,467 - 179,301 |
Total funds 2024 £ 116,708 2,054 2,183 120,945 125,309 125,309 (4,364) 332,474 - 328,110 |
Total funds 2023 £ 125,277 719 1,571 127,567 125,448` 125,448 2,119 330,355 - 332,474 |
|
|---|---|---|---|---|---|
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation’s operations are classed as continuing.
The notes on pages 8 to 14 form part of these financial statements.
Page | 6
GLENDALE CHURCH
(CHARITABLE INCORPORATED ORGANISATION)
BALANCE SHEET
AS AT 31ST DECEMBER 2024
| Notes | Unrestricted | Restricted | 31 Dec 2024 | 31 Dec 2024 | 31 Dec 2023 | |
|---|---|---|---|---|---|---|
| funds | funds | Total | Total | |||
| £ | £ | £ | £ | |||
| FIXED ASSETS | ||||||
| Tangible assets | 2 | 69,362 | 175,000 | 244,362 | 248,458 | |
| TOTAL FIXED ASSETS | 69,362 | 175,000 | 244,362 | 248,458 | ||
| CURRENT ASSETS | ||||||
| Debtors & Prepayments | 7 | 17,098 | - | 17,098 | 20,150 | |
| Cash at bank and in hand | 6 | 64,557 | 4,358 | 68,915 | 67,842 | |
| 81,655 | 4,358 | 86,013 | 87,992 | |||
| CREDITORS: Amounts | ||||||
| falling due within one year | 8 | (2,208) | (57) | (2,265) | (3,976) | |
| NET CURRENT ASSETS | 79,447 | 4,301 | 83,748 | 84,016 | ||
| TOTAL ASSETS LESS | ||||||
| CURRENT LIABILITIES | 148,809 | 179,301 | 328,110 | 332,474 | ||
| CREDITORS: Amounts | ||||||
| falling due in more than one | 9 | - | - | - | - | |
| year | ||||||
| NET ASSETS | £ 148,809 |
£ 179,301 |
£ | 328,110 | £ 332,474 |
|
| FUNDS OF THE CHARITY | ||||||
| Restricted funds | 5 | - | 179,301 | 179,301 | 177,467 | |
| Unrestricted funds | 148,809 | - | 148,809 | 155,007 | ||
| £ 148,809 |
£ 170,301 |
£ | 328,110 | £ 332,474 |
The financial statements were approved by the Trustees on 26th June 2025.
Signed on their behalf by Trustees:
Print Name: Neil Atherton Print Name: Ron Timms
Page | 7
GLENDALE CHURCH
(CHARITABLE INCORPORATED ORGANISATION)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024
1. ACCOUNTING POLICIES
Basis of Preparation
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2011.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
Assessment of Going Concern
Preparation of the accounts is on a going concern basis. The trustees have carefully evaluated all current risks and consider that there are no material uncertainties about the Charity's ability to continue as a going concern.
Incoming Resources
Recognition of Incoming Resources
These are included in the Statement of Financial Activities (SOFA) when:
-
the charity becomes entitled to the resources;
-
the trustees are virtually certain they will receive the resources; and
-
the monetary value can be measured with sufficient reliability.
Incoming Resources with Related Expenditure
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.
Grants and Donations
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Tax Reclaims on Donations and Gifts
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
Contractual Income and Performance Related Grants
This is only included in the SOFA once the related goods or services have been delivered.
Gifts in Kind
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only if material, when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.
Donated services and facilities
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
Volunteer Help
The value of any voluntary help received is not included in the accounts.
Page | 8
GLENDALE CHURCH
(CHARITABLE INCORPORATED ORGANISATION)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024
Investment Income
This is included in the accounts when receivable.
Investment Gains and Losses
This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
Expenditure and Liabilities
Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Governance Costs
These include costs of the preparation and examination of statutory accounts, the costs of the trustees’ meetings and cost of any legal advice to trustees on governance or constitutional matters.
Grants with Performance Conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
Grants Payable without Performance Conditions
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remains in the control of the charity.
Pensions
Pension contributions are charged to the Statement of Financial Activities as they become payable.
Assets
Investment Assets
Investments quoted on a capitalised stock exchange are valued at market value at the year end. Other investment assets are included at trustees’ best estimate of market value.
Tangible Fixed Assets
Fixed Assets are capitalised if they can be used for more than one year and cost at least £1,000. They are valued at cost or, if gifted, at the value to the charity on receipt.
Land & Buildings
Land and Buildings have been valued and included within the accounts at cost value as at the 20[th] August 2018.
Depreciation Expense
No amortisation is charged to freehold property as the property is maintained to such a standard that the estimated residual value is not less than cost. Fixtures and Fittings associated with the refurbishment work have been depreciated from the start of the year on a straight-line basis over 10 years. Equipment purchased in year is depreciated over 5 years.
Page | 9
GLENDALE CHURCH
(CHARITABLE INCORPORATED ORGANISATION)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024
2. TANGIBLE FIXED ASSETS
| COST 01-JAN-24 ADDITIONS DISPOSALS COST AS AT 31-DEC-24 1 DEPRECIATION 01-JAN-24 CHARGE DISPOSALS DEPRECIATION AT 31-DEC-24 NET BOOK VALUE 31-DEC-24 NET BOOK VALUE 31-DEC-23 |
LAND & FIXTURES & EQUIPMENT 2024 BUILDING FITTINGS TOTAL £ 175,000 £ 103,282 £ 2,322 £ 280,604 - - 6,928 - - - 6,928 - |
|---|---|
| 175,000 110,210 2,322 287,532 |
|
| - (30,637) (1,509) (32,146) (10,559) (465) (11,024) - - - - |
|
| - (41,196) (1,974) (43,170) |
|
| 175,000 69,014 348 244,362 |
|
| 175,000 72,645 813 248,458 |
The annual commitments under non-cancelling operating leases and capital commitments are as follows:
31[st] December 2024: None
Page | 10
GLENDALE CHURCH
(CHARITABLE INCORPORATED ORGANISATION)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024
3. INCOMING RESOURCES
| UNRESTRICTED | RESTRICTED | TOTAL | TOTAL | ||
|---|---|---|---|---|---|
| NOTE | FUNDS | FUNDS | 2024 | 2023 | |
| £ | £ | £ | £ | ||
| A) DONATIONS & LEGACIES | |||||
| GIFTS, TITHES & OFFERINGS | 91,746 | 8,091 | 99,837 | 100,077 | |
| GRANTS | - | - | - | 5,827 | |
| GIFT AID TAX RECOVERED | 15,381 | 1,490 | 16,871 | 19,373 | |
| 107,127 | 9,581 | 116,708 | 125,277 | ||
| B) CHARITABLE ACTIVITIES | |||||
| CHARITABLE ACTIVITIES | 2,054 | - | 2,054 | 719 | |
| 2,054 | - | 2,054 | 719 | ||
| C) INVESTMENTS | |||||
| BANK INTEREST | 2,183 | - | 2,183 | 1,571 | |
| 2,183 | - | 2,183 | 1,571 | ||
| 4.RESOURCES EXPENDED | |||||
| UNRESTRICTED | RESTRICTED | TOTAL | TOTAL | ||
| FUNDS | FUNDS | 2024 | 2023 | ||
| £ | £ | £ | £ | ||
| A) CHARITABLE ACTIVITIES | |||||
| ACTIVITIES & EVENTS | 1,930 | - | 1,930 | 1,853 | |
| ADVERTISING, PUBLICITY & WEBSITE | 4,005 | - | 4,005 | 3,859 | |
| BANK CHARGES | 641 | - | 641 | 365 | |
| CHILDREN & YOUTH | 1,148 | 977 | 2,125 | 2,037 | |
| CLEANING & FACILITIES | 1,229 | - | 1,229 | 925 | |
| DEPRECATION & AMORTISATION | 2 | 11,024 | - | 11,024 | 10,692 |
| MISSIONARIES & PASTORAL CARE | 9,988 | 260 | 10,248 | 15,226 | |
| DONATIONS TO ORGANISATIONS | 2,700 | 57 | 2,757 | 3,200 | |
| INSURANCE COSTS | 1,048 | - | 1,048 | 1,287 | |
| LEGAL & PROFESSIONAL FEES | 843 | 536 | 1,379 | 532 | |
| LICENSES & SUBSCRIPTIONS | 1,170 | - | 1,170 | 1,170 | |
| OFFICE & ADMINISTRATIVE | 616 | - | 616 | 341 | |
| RENT & RATES | 6,144 | - | 6,144 | 6,816 | |
| REPAIRS & MAINTENANCE | 1,193 | - | 1,193 | 4,333 | |
| SALARIES, WAGES & PENSIONS | 10 | 69,182 | 5,438 | 74,620 | 66,777 |
| SUNDRIES | 136 | - | 136 | 43 | |
| TRAINING COSTS | 247 | - | 247 | 1,365 | |
| TRAVEL COSTS | 821 | - | 821 | 978 | |
| UTILITIES (INCL BROADBAND) | 1,364 | 479 | 1,843 | 2,185 | |
| WORSHIP & SUNDAY SERVICE COSTS | 2,133 | - | 2,133 | 1,463 | |
| 117,562 | 7,747 | 125,309 | 125,448 |
GOVERNANCE COSTS INCLUDED IN LEGAL & PROFESSIONAL FEES ABOVE INDEPENDENT EXAMINATION - - LEGAL FEES - -
Page | 11
GLENDALE CHURCH
(CHARITABLE INCORPORATED ORGANISATION)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024
5. RESTRICTED FUNDS
CURRENT YEAR
| GLENDALE THATCHAM YOUTH WORK BUILDING FUND CHURCH NEEDS FUND OTHER GLENDALE THATCHAM YOUTH WORK CAP LIFE SKILLS CHURCH NEEDS FUND OVERSEAS HUMANITARIAN OTHER |
BALANCE TRANSFER BALANCE 01-JAN-24 £ INCOME £ EXPENDITURE £ OF FUNDS £ 31-DEC-24 £ 175,000 - - - 175,000 2,430 5,437 (6,894) - 973 - 1,423 - - 1,423 - 2,000 (229) - 1,771 37 721 (624) - 134 |
|
|---|---|---|
| 177,467 9,581 (7,747) - 179,301 |
||
| PREVIOUS PERIOD BALANCE TRANSFER BALANCE 01-JAN-23 £ INCOME £ EXPENDITURE £ OF FUNDS £ 31-DEC-23 £ 175,000 - - - 175,000 - 12,744 (10,314) - 2,430 841 583 (1,424) - - - 5,087 (5,087) - - - 1,200 (1,200) - - - 42 (5) - 37 |
||
| 177,841 19,656 (18,030) - 177,467 |
The Glendale Thatcham Fund consists of the freehold property known as ‘The Well’. Other restrictions represent grant income or gifts for specific purposes as outlined above.
6. CASH AT BANK AND IN HAND
| CASH AT BANK & IN HAND 7. DEBTORS AND PREPAYMENTS PREPAYMENTS ACCRUED INCOME GIFT AID TAX RECOVERABLE |
UNRESTRICTED RESTRICTED TOTAL TOTAL FUND FUND 31-DEC-24 31-DEC-23 £ £ £ £ 64,557 4,358 68,915 67,842 |
|---|---|
| 64,557 4,358 68,915 67,842 |
|
| UNRESTRICTED RESTRICTED TOTAL TOTAL FUND FUND 31-DEC-24 31-DEC-23 £ £ £ £ 637 247 16,214 - - - 637 247 16,214 679 154 19,317 |
|
| 17,098 - 17,098 20,150 |
Page | 12
GLENDALE CHURCH
(CHARITABLE INCORPORATED ORGANISATION)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| SUNDRY CREDITORS | UNRESTRICTED RESTRICTED TOTAL TOTAL FUND FUND 31-DEC-24 31-DEC-23 £ £ £ £ 2,208 57 2,265 3,976 |
|---|---|
| 2,208 57 2,265 3,976 |
9. CREDITORS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR
The CIO held no long-term liabilities during the financial year or the prior year.
10. STAFF COSTS AND NUMBERS
| GROSS WAGES & SALARIES EMPLOYER'S NATIONAL INSURANCE COSTS PENSION CONTRIBUTIONS TEMPORARY STAFF COSTS Employees who were engaged in each of the following activities: (Full time equivalent) ACTIVITIES IN FURTHERANCE OF ORGANISATION'S OBJECTS |
2024 2023 £.... £ 71,153 62,828 - 806 3,467 3,143 - - |
|
|---|---|---|
| 74,620 66,777 |
||
2.0 2.1 |
No employees received emoluments in excess of £60,000.
Page | 13
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024
GLENDALE CHURCH
(CHARITABLE INCORPORATED ORGANISATION)
11. TRUSTEES AND OTHER RELATED PARTIES
During the financial year Mr Stephen Gregory (father-in-law to Trustee Mrs Amy Gregory) received £10,965 (2023: £9,946) in salary related payments and Pension Contributions in his capacity as Administrator for Glendale Church in furthering the Charity's objects.
During the financial year Mrs Rachael Joyce (Spouse to Trustee Mr Owen Joyce) received £15,645 (2023: £14,900) in salary related payments and Pension Contributions in her capacity as Leader of Youth Ministry for Glendale Church in furthering the Charity's objects.
No other payments were made to trustees or any persons connected with them during this financial period. No other material transaction took place between the organisation and a trustee or any person connected with them.
12. RISK ASSESSMENT
The trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
13. RESERVES POLICY
The trustees have considered the level of reserves they wish to retain, appropriate to the CIO's needs. This is based on the CIO's size and the level of financial commitments held. The trustees aim to ensure the CIO will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The trustees have agreed to maintain the following minimum reserves: a capital reserve of £15,000 (to reflect the responsibility for The Well property on Green Lane, Thatcham, and a revenue reserve of £25,000. The revenue reserve represents not less than three months of core operating costs. The trustees will endeavour not to set aside funds unnecessarily.
14. PUBLIC BENEFIT
The CIO acknowledges its requirement to demonstrate clearly that it must have charitable purposes or 'aims' that are for the public benefit. Details of how the CIO has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the CIO should undertake.
Page | 14
GLENDALE CHURCH
(CHARITABLE INCORPORATED ORGANISATION)
INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS
Report to the Trustees/members of Glendale Church on the accounts for the year ended 31[st] December 2024 set out on pages 4 to 14.
Respective responsibilities of trustees and examiner
The Charity's trustees are responsible for the preparation of the accounts. The Charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
examine the accounts under section 145 of the Charities Act,
to follow the procedures laid down in the general Directions given by the Charity Commission under section145(S)(b) of the Charities Act, and; to state whether particular matters have come to my attention.
Basis of independent examiner's statement
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and, seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair' view and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
-
which gives me reasonable cause to believe that in, any material respect, the requirements:
-
a. to keep accounting records in accordance with section 130 of the Charities Act; and
-
b. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Simon Green 17C Wendan Road Newbury Berkshire RG14 7AG
Date: 26[th] June 2025
Page | 15