CHARITABLE INCORPORATED NUMBER- 1175011 REPORT OFTHE TRUSTEES AND FINANCIALSTATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023 ENFIELD TOWN COMMUNITY CHURCH CONTENTS OF THE FINANCIALSTATEMENTS Reference and Administrative Detai15 Report of the Trustees 3to5 Audltors Report 6t08 Statement of Financial Actwities Balance Sheet io Cash Flow Statement li Notes to the Financial Statements 12to19
ENFIELD TOWN COMUNITY CHURCH REFERENCE ANDADMINISTRATIVE DETAILS Reglstered Charity number 1175011 Prlncipal address 79 Cecil Road Enfield EN2 6TJ Auditors Carter & Coley Limited 3 Durrant Road Bournemouth BH2 6NE Bankers Barclays 20 The Town Enfield EN2 6LS Association Fellowship of Independent Evangelical Churches 41 The Point Market Harborough LE16 7QU Trustees David Burrowes (until 31 March 20241 Dougal Burrowes (from 24 March 20241 Rob Cawlev Colin Clark jonathan Gregorv Nathan Howard Tim Lock luntil 15 April 20241 David Parker Sam Sinyinza Dave Wisbey Andrew Wright Matt Maher (from 24 June 20241
ENFIELD TOWN COMUNITY CHURCH REPORT OF THE TRUSTEES for the Year Ended 31 December 2023 The Tiustees present their report with the financial statements of the charity for year ended 31 December 2023. The Truslees have adopted the provisions of Accounting and Reporting by Charities.. St3tement of Recommended Prartice applicable to charltles preparing their accounts in accordance with the Financial Reporting Standard appllcable in the UK and Republic of Ireland IFRS 1021 leffective l January 20191. AIMS AND OWECTIVES The church'5 purpose, taken from our Constitution, is'the advancement of the Christian faith in accordance with the B8sis of Faith primarily but not exclusively within the London Borough of Enfield and the surrounding neighbourhood- and such other charitable purposes as shall, in the opinion of the members of the church in general meeting* Put into practice the Christian faith in accordance with the Basis of F31th, including but not limited to.. the prevention and relief of need, hardship and sicknes5 and the advancement of educatlon" Our aim is to make Jesus known in Enfield Town as we grow to know hlm better ourselves, individually and as a church. PUBLIC BENEFIT The Trustees confirm that they have complied with their duty to have regard to the guidance on publlc beneflt published by the Charity Commission in exercising their powers or duties. ACTVITIES THROUGH THE YEAR The principal artivity of the church continued to be the proclamation of the Gospel of the Lord jesus Christ in Enfield and the surrounding area and through support of mission at home and abroad. The church held regular Sundays services throughout the year. The broadcast of services online has continued for those unable to attend in person. reasons. The broadcast of servi5 online ha5 continued to Increase the reach of the Church in presenting the Gospel to people in different ways. All our prayer meetings, Grow Groups and other activities were also held in person. The church's regular activities for children and young people continued throughout the year with good attendante. through the year. The bi-weekly prayer meetlng and bl-weekly Grow Groups for bible study and prayer in small groups continued through the year and we continued to sijpport our missionary family in various parts of the UK and abroad. Our christianity Explored courses for those interested in finding out more about what being a Christian means also continued through the year. Apart from formal Church Members, Meetings, which are for formal members only, all the church's meetings and events, including those held online, were open to the general public, who were regularly invited through the church'5 website, social media and other means of engaging with the local communlty. Nathan Howard contlnued as Senior Pastor, taking the lead in the preachlng and pastoral care since September 2017. Tim Lock contlnued in his role of Outreach Pastor (until 14 April 20241 and Jonathan Gregory continued in his role as Discipleship Pastor. Rachel Jones and Heather Ovey both continued a5 p3rt-time Woman's Workers with Rachel taking maternity leave in the first half of 2023. There were a number of movements throughout the year with new people
attending and joining as church members and other changes as a result of death, transfers to other churches and resignations. FINANCIAL REVIEW Financlal posltlon The Church had total Income of £490,17012022'. £480,5761 and expenditljre of £529,04912022.. £547,519) leaving deflcit of £31,255 on unrestricted funds In the year12022.. deficit £67,8101. The deficit reflects transfer of £13,144 toward5 the establishment of a new congregation at Bury Street and £6,729 of depreclatlon. Grant making and Investments The church makes small financial grants to church members and others in regular attendance who 3re in need of flnancial support through its Fellowship Fund, which is funded through those attending the church making donation5. The church also supports those working in the UK and abroad seeking to make the Gospel known as missionaries. The church has a 'no risk, approach to investments, its funds are held in standard bank accounts. The church follows the Charlty Commlsslon guldance ensurlng approprlate flnanclal reserves are maintained. Reserves policy The elders have reviewed the reserves policy and consider it prudent to keep reserves of £60,000, which are not invested In tangible a55ets and are unrestricted. The Chuich's General Fund at 31 December 2023 was above the required level. FUTURE PLANS The church's future plans are to continue to proclaim the Gospel of the Lord Jesus Christ in Enfield and the surrounding area and to continue to grow the faith of those attending the church. We will contlnue to work In partnership with other like-mlnded local churches, In partltular those in the 'Together for Mlsslon, Partnership of churches. STRucfuRE, GOVERNANCE AND MANAGEMENT Governing document The church is reElStered as a Charitable Incorporated Organisation ICIOI with the CharSty Commlssion. The Church is controlled by its 8overning documents, the Church Constitution and Church Handbook. Recrultment and appolntment of new trustees The Elders, who are the Charity Trustees, are responsible for the spiritijal and pastoral oversight of the church. The Elders oversee all Church meetings and all Church activities. Nominations for a new Elder lor the re-appointment of an existing Elderl are made by the body of Elders. As outlined in the Church Handbook, nominations are communicated to church members in writing, who are then asked to vote on the appointment at a Church members, meeting. The vote is by secret ballot and 80% of the members present and votlng must vote In favour. The procedure for the appointment of Deacons is also outlined In the Church Handbook. Deacons are appointed by the Elders. The Church Secretary is responsible for the induction of new Elders which involves an awareness of the responsibilities of the positlon, the governlng documents. and the church's pollcles and procedures.
Key management remuneration The Church has a sub-committee consisting of some of the Elders ITrusteesl to set the remuneration of all staff members. They Key Management Remuneration is based on whether a manse is provided along with other factors such as seniority. experience and length of service. Risk management The Elders (Trustees) review the mèlor rlsks to which the Church could be exposed and ensure that Systems are Implemented to mitigate those risks where possible. Risks and systems to mitigate them are revlewed as and when is appropriate. VOLUNTEERS The Church's actlvities rely on the commltment of large number of volunteers. The Church recognlses the contribution that the volunteers make in the sustaining of its activities. Charity law requires the trustees to prepare financial statements for each financial year, which glve a true and fair view of the state of affairs of the Church and of its financial activities for that period. In preparing those financièl statement5, the Elders ITru5teesl are required to.. lal select suitable accounting policies and then apply them consistently,. Ibl make judgements and estimates that are reasonable and prudent- Icl state whether the policies adopted are in accordance with Charities SORP and with applicable accounting standards, subject to any material departures disclosed and explained in the financial statements,. Idl prep3re the financial statements on the going concern basis unless it is inappropriate to assume that the chufch will continue. The Elders are responsible for keeplng atcounting records which disclose with reasonable accuraw the financial position of the Church and to enable them to ascertain that the financial stètements comply with the Charities Act 2011. They are also responsible for safegu3rding the assets of the Church and hence for taking reasonable step5 for the prevention and detection of fraud or other irregularities. N Howcyrd Signed on behalf of the Trustees g7110/24
REPORT OF THE INDEPENDENT AUDITORSTO THE TRUSTEES OF £NFIELD TOWN COMMUNITY CHURCH Opinion We have audited the financial statements of Enfleld Town Communlty Church (the 'charity'l for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied In their preparatlon is applicable law and Unlted Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). In our opinion the financial 5tatements'. give a true and falr view of the state of the charity's affairs as at 31 December 2023 and of its incoming resources and application of resources, for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Charities Act 2011. Basls for oplnlon We tonducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities forthe audit of the financial statements section of our report. We are independent of the charity in accordance with the ethlcal requirements that are relevant to our audit of the financial 5t3tements in the UK, including the FRC'S Ethical Standard, and we have fulfllled our other ethical respon51bilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient 3nd appropriate to provide a basis for our opinion. Concluslons relating to going concern In audltSng the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material unrtaIntieS relating to events or conditions that, individually or collectively, may c35t significant doubt on the charity's ability to continue as a goin8 concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sectlons of thSs report. Other information The trustees are responsible for the other information. The other information comprises the information included In the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. 61Pa8e
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF ENFIELD TOWN COMMUNITYCHURCH Our oplnlon on the flnanclal statements does not cover any other informatlon and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information Is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identlfy such material inconsistencies or apparent material mlsstatement5, we are required to determine whether this gives rlse to a material misstatement In the financial statements themselvos. If, based on the work we have performed, we conclude that there is a material misstatement of this Other information, we are required to report that fact. We have nothing to report in this regard. Matters on which we are required to report by exceptlon We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requlres us to report to you if, in our oplnion.. the information given In the Report of the Trustees is inconsistent in any material respect with the fin3ncial statements,. or sufficient accounting records have not been kept; or the financial statement5 are not in agreement with the accounting records and return5- or we have not received all the information and explanatlohs we require for our audit. Respon51bllitle5 of trustees As explained more fully in the Statement of Trustees. Responsibilities, the trustees are responsible for the preparatlon of the financlal statements which give a true and fèir view, and for such internal control as the trustee5 determine is necessary to enable the preparation Df financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a Boing concern, disclosing, as applicable, matters related to going concern and using the going concern basi5 of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Our responslbllltles for the audit of the flnanclal statements We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our oblectlves are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinlon. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit
REPORTOF THE INDEPENDENT AUDITORS TO THETRUSTEES OF £NFIELD TOWN COMMUNITY CHURCH conducted in accordance with ISAS IUKI will always detect a materbal mlsstatement when it exists. Mlsstatements can arise from fraud or error and are considered mèterial if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularitie5, including fraud Is detailed below.. Irregularitie5, including fraud, are instances of non-compliance withlaws and regulations. We design procedures in line with our responsibillties, outlined above, to detect material misstatements in SpeCt of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, Including fraud is detailed below.. We obtained an understandlng of the legal and regulatory frameworks that are applicable to the charlty and determined that the most significant are those covered by the Statement of Recommended Practice for Charities ISORP 20191 and the Charities Act 2011. We assessed the risk of material misstatement in respect of fraud by making enquiries of management and trustees and by testing the implementation of accounting controls in place. Based on the results of our risk 3ssessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above by making enquiries with key personnel and reviewing relevant documentation such as minutes of Trustee meetlngs and correspondence with regulatory bodies. We considered the risk of fraud through management override by incorporation testing of journal entrles and reviewing any requirements to meet performance targets. We also considered, and tested for, the possibility of unauthorised payments to related parties A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsrespon5ibilities. This description forms part of our Report of the Independent Auditors Use of our report This report is made solely to the charity's trijstees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitV'5 trustee5 those matters we are required to state to them in an auditor5, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audlt work, for this report, or for the opinions we have formed. Carter & Coley Limited Chartered Accountants and Statutory Auditor 3 Durrant Road Bournemouth Dorset 8H2 6NE Date.. 27 September 2024
ENFIELDTOWN COMUNITY CHURCH STATEMENT OF FINANCIAL ACTIVITIES for the Period Ended 310ecember 2023 Notes Unrestrict -ed funds Restricted funds Total 2023 Unrestiict .ed lunds Restrlcted funds Total 2022 Donations and legacies ChaTltable activitie5 Church activilie5 Investments Total 440.656 4,692 445,348 422,453 7,805 430,258 33,368 11,454 485,478 33,368 11,454 490,170 47,77S 2,543 472,771 47,77S 2,543 480,576 4.692 7,805 Charitable actwitie5 516,733 12,315 529,049 540,S81 6,938 547,519 Total 516,733 12.315 529,049 540,581 6,938 547,519 Net Income 131,2551 7,624 3B.8791 167,8101 867 166,9431 Transfers between funds Net movement In funds Total funds brought forward Totsl funds cariled forward 131,2551 1,236,786 17.6241 3,6S5,937 138,8791 4.892,723 167,8101 1,303.484 127.6851 3,656,182 111,1941 4,959.666 Li 1,205,531 3,648,313 4,853,844 1,235,674 3,657,049 4.892,723 CONTINUING OPERATION5 All income and expenditure h35 arisen from continuing activities. The notes on pages 12-19 form part of these financial statements.
ENFIELD TOWN COMUNITY CHURCH BAL4NCE SHEET At 31 December 2023 Notes 2023 2022 Flxed asset5 Tangible assets 4,567,570 4,558,420 Current assets Debtors Cash at bank and in hand Inve5tment5 31,469 262,301 18,844 322,252 293,771 341,097 Credltors.. Amounts falllng due within one year io 17,4971 16,7941 Net current assets 286.274 334,303 Total assets less current Ilabllltles 4,853,844 4.892.723 The funds of the charlty Restrlcted funds li 3,649,315 3,657,049 Unrestricted funds 1,204,530 1,235,674 Total funds 4,853,844 4.892,723 The financial statements were approved by the Board of Trustees on 22110[2è and were signed ori its behalf by.. ard-Trustee The notes on pages 12-19 form part of these financlal statements. 101 Pa8
ENFIELD TOWN COMUNITY CHURCH CASH FLOW STATEMENT for the Period Ended 31 December 2023 2023 2022 Cash flows from operatlng actlvitle5 Cash generated from operations 155,5251 163,5941 Net cash provided by operatlng actlvltles 155,5251 163,5941 Cash flows from Invest5ng actlvltles Interest received Purchase of tangible assets Net casFTr provlded by investlng actlvltles 11,454 115,8791 14,4261 2,543 143,2941 140,7511 Change In tash and cash equlvalents In the reportln_g perlod 159,9501 1104,3451 Cash and cash equlvalènts at the beglnning of thè reportlng perlod 322.251 426,596 Cash and cash equlvalents at the end of the reportlng period 262,301 322,251 RECONCILIATION OF NET INCOMETO NET CASH FLOW FROM OPERATING AcfiviTIES Net lexpenditurelllncome for the reporting period las per the statement of financlal artlvltlesl AdjustmentsAor.' Depreciation charges Interest received IDecreasel/increase in debtors Increase in creditors 138,8791 166,9431 6,729 111,4541 112,6241 703 4.442 12,5431 1,198 252 Net tash (used Inl operatlng actlvltles IS5,5251 163.5941 The note5 on pages 12-19 form part of these financial statements.
ENFIELDTOWN COMUNITYCHURCH Notes to the Flh nclal Statements ACCOUNTING POLICIES Basls of preparin8 the flnancial statements and assessment of golng concern The financial statements of the charity, which is a publi£ beneflt entity under FRS 102, have been prepared in accordance with the Charltle5 SORP IFRS 1021 'Accounting and Reportin8 by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective I'lanuary 20191,, and the Charlties Act 2011. The financial statements have been prepared under the historical cost convention as modified by the revaluation of fixed assets. The trustees consider that there are no material uncertaintie5 about the Church's abillty to continue as a golng concern. Group accounts have not been prepared as the value of the investment in the subsidiary is not material. Crltl¢al accountlng judgement5 and key sources of estimatlon uncertalntv In preparing financial statements it Is necessary to make certain judgements, estimated and assumptions that affecl the amounts recognised in the financlal statements. The following judgements and estimates are considered by the trustees to have most slgnlflcant effect on amounts recognised in the financial statements. Useful economic life of tangible fixed assets.. The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annu311y. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utillsation and the physical tondition of the assets. Income All income is recognised in the Statement of Flnanclal Activities once the charity has entitlement lo the funds, it is proL7able that the Income will be received and the amount can be measured reliably Donations arislng under Gift Aid are accounted for on the date of receipt and provisions are made for income tax remaining unclalmed at the year end. No value of services by volunteers has been included in these accounts. Expenditure Li3bllltles are recognised as expenditure as soon as there is a legal or constructive obligation ommitting the charity to that expenditure, it Is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be direct attrlbuted to particular headings they have been allocated to activities on a basis consistent with the use of resources. IZI Page
ENFIELDTOWN COM NITYCHURCH Notes to the Flnanclal Statements ACCOUNTING POUCIES Tanglble flxed assets Depreciation is provided at the following annual rates in order to write off each asset over Its estlmated useful life. Fixtures and flttings- 20% on reducing balance Computer equipment- 20% on reducing balance Taxation The charity is exempt from tax on its charltable actwities. Debtors Trade and other debtors are reco6nised at the settlement amount. Prepayments are valued at the amount prepaid. Cash at bank and In hand Cash at bank and in hand includes,. cash, bank current accounts and bank deposit accounts with no withdrawal Ilmitations. Credltors Creditors are recognised where the charity ha5 a present obligation resulting from a past event that will result in the transfer of fund5 to 3 thl¥d party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount. Financlal Instruments The charity only ha5 linanciBI assets and flnancial liabilities of a kind that qualify a5 ba51t financial instrument5. Baslc financial instruments are Initially settled at transaction value and subsequently measured at their settlernent value wlth the exception of bank loans which are subsequently measured at amortised cost using the effectlve interest method. Fund accountin8 Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for partlcular restricted purposes within the objects of the charity. Restrictlons arise when spetlfled by the donor or when funds are raised for particular restricted purposes. Further explan3t5on of the nature and purpose of each fund is included in the notes to the financial statements.
ENFIELDTOWN COMUNITY CHURCH Notes to the Flnancial Statements ACCOUNTING POLICIES Penslon costs and other p05t-retlrement benefits The charity operates a defined contributlon pension scheme. Contributions payable to the charlty's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Donatlons and legacies 2023 Unrestrlcted funds 2023 Restrirted funds 2023 Total funds 2022 Unrestrlcted funds 2022 Restrlcted funds 2022 Total fund5 Donatlons Legacies Total 433,811 6,845 440,656 4,692 438,503 6,845 445,348 422,453 7,805 430,258 4,692 422,453 7,805 430,258 Chur¢h activltles 2023 Unrestricted funds 2023 Rèstrlcted funds 2023 Total funds 2022 Unrestricted funds 2022 Restricted funds 2022 Total funds EveFlts and a¢tivitle5 Total 33,368 33.368 33,368 33.368 47,775 47.775 47,775 47,775 Investment Income 2023 Unrestylcted funds 2023 Restrleted funds 2023 Total funds 2022 Unrestrlcted funds 2022 Restrlcted funds 2022 Total funds Bank interest Total 11,454 11,454 11,454 11,454 2,543 2.543 2,543 2,543 Expenditure.. Charllable actlvitles 2023 2023 Unrestricted Restricted funds funds 2023 Total funds 2022 Unrestrlcted funds 2022 Restricted funds 2022 Total funds Church activities Total 516,733 516,733 12,315 12,315 529.049 529,049 540.581 540.581 6,938 6,938 547,519 547,519 The audit fee was £4,90012022 - £4,700) 141 Page
ENFIELD TOWN COMUNITY CHURC Not he Flnanclal Statemehts Staff costs 2023 Unrestrlcted funds 2023 Restrlctèd funds 2023 Total funds 2022 Unrestricted funds 2022 Restrltted funds 2022 Total funds Wages National insurance Pension Employment allowance Total 228,994 18,780 19,493 15,0001 262,267 228,994 18,780 19,493 15,0001 262,267 249,589 17,175 19,918 15,0001 281,682 249,589 17,175 19,918 15,0001 281,682 Remuneration during the year was paid to three trustees totalling £106,68212022.. four £101,348) in respect of their employment as Pastors of the Church. None of the trustees received any remuneratSon fo¥ their involvement as trustee. No other benelits were recelved by trustees during the year nor for the period ended 31 December 2023 or 2022. Key management The trustees conslder the Key Management of the Church to be that of the Pastor5, A5SOClète Pastors & Pastors in Training. Durlllg the year the Key Management received remuneratlon totalling £106,68212022.' £101,348). There were no trustees. expense5 paid foir the year ended 31 December 2023 nor for the perlod ended 31 December 2022. The average number of employees during the year was as follows,. 2023 No. 2022 No. Pastoral team Apprentices in training Adminlstrative and support staff Total io li 7. Tangible fiyed assets Freehold property Flxtures & flttings Computer equlpment Total Cost C05t at the beginning of the perlod Additions Cost at the end of the period 4,540,649 32,278 8,569 40,847 4,013 7,310 11,323 4,576,940 15,879 4,592,819 4,540,649 Deprec5atlon At the beginning of the period Ch3rge for the year At the end of the perlod 16,150 4,939 21,089 2,370 1.791 4,161 18,520 6,729 25,249 Net book value at beginning of the period Net book value at end of the perlod 4,540,649 4,540,649 16,128 19,759 1,643 1,643 4,558.420 4,567,570
ENFIELD TOWN COMMUNITY CHURCH Notes to the Financlal Statements Freehold Property has been transferred to the Charity at Its original cost to the transferor Charity and, in the opinion of the trustees, the fair value of the property at the Balance Sheet date is not slgnificantly different to that figure. The properties comprising that class of asset will be revalued on a periodic basis over a live-year term arid the revalued amount wlll be subject to an imp3irment revlew at the end of each year. Any impairmeTIt Provision necessary will be written off immediately in the Statement of Financial Activities. The next revaluation is due 31/1212024. All Freehold Property is well maintained and, in the opinion of the Trustees. will not fall in value for many years. In view of the above no depreciation is charged in respect of the Freehold Propertie5. 8. Debtors 2023 2022 other debtors (Gift aid receivablel Prepayments Total 29,245 2,224 31,469 16,596 2,248 18,844 9. Current asset Investments 2023 2022 Shares in group undertaklng Total 10. Credltor5; amounts fallin8 due wlthin one year 2023 Other creditors Accruals Totsl 2,094 5,403 7,497 2,094 4,700 6.794 16 | Page
ENFIELDTOWN COMMUNITY CHURCH es to the Financlal Statements il. Movement In funds Balance at I january Income Expenditure Transfers Balance at31 December 2023 Unrestrlctedfvnd General fund Building reserve Equipment fund Bury Street fund Turkey Street Total unrestrlcted funds 305.200 863.876 53,625 13,144 11711 1,235,674 485,478 1503,4781 19,1501 278,050 863,876 62,775 9,150 113,1441 11711 1,204,530 485,478 1516.6221 Restrlctedfunds Fellowship fund Fixed asset fund Turkey Street project Totsl restricted funds 15,189 3,640,919 941 3,657,049 4,692 112,315 7,565 3,640,919 830 3,649,315 Iiioi 112,4251 4.692 Total 4,892,723 490,170 1529,0491 4,853,84S 2022 Unrestrlcted General fund Building reserve Equipment fund Bury Street fund Turkey Street Total unrestricted funds 385,692 863,876 14,774 38,542 600 1,303A84 43CS,390 1472,0311 138,8511 305,200 863,876 53,625 13,144 11711 1,235,674 38,851 42,381 167,7791 17711 1540,5811 472,771 Restrlttedlunds Fellowship fund Fixed assef fund Turkey Street project Totsl restrlcted lunds 14.322 3,640.919 941 3.656,182 7,805 16,9381 15,189 3,640,919 941 3,657,049 7.805 16,9381 Total 4,959,666 480,576 1547.5191 4,892,723 FlxedAsset Reserve5 15 the value of the pmperties and any subsequent revaluations. Burystreet are funds received and spent on behalf of the named congregatlons which were established the Church. The balance of funds due to Bury Street were paid over during the vear.
ENFIELDTOWN COMMUNITYCHURCH Notes to the Flnanclal Statemen ETCC Fellgwshlp Fund provides financial help for church members l our mission partners who are in financlal difficulties IAS determined by the Welfare Team). Turkey Street Prolect is money received relating to the Turkey Street Project. The General Fund is donations and other income received or generated for the objects of the church without further specific purpose. 12. Net assets by funds Flxed assets Bank and cash Other net Current asset5 Balancè at31 December 2023 Unrestricted General fund Buildlng reserve Equipment fund Turkey Street Total unrestrictei4 funds unds 254,077 23,972 278,049 863.876 62,775 11711 1.204,529 863,876 62,775 11711 253,906 926,651 Restrlctedfvnds Fellowshl fund Restricted fixed asset reserve Turkey Street projeci Total restricted funds 7,565 7,565 3,640,919 830 3.649.315 3,640,919 830 8,395 3,640,919 Total funds 4,567,570 262,301 23,972 4,853,844 2022 Unrestrlctedfvnds General fund Building reserve Equipment fund Bury Street fund Turkey Street Total unrestrlcted funds 293.149 12,051 305,200 863,876 53,625 13,144 11711 1.235.674 863,876 53,625 13,144 11711 306.123 917,501 12,051 Restri£tedAunds Felltswship fund Restrlcted fixed asset reserve Turkey Street project Total restrlcted funds 15,189 15,189 3,640,919 941 3.657.049 3,640.919 941 16,129 3,640,919 Total funds 4,558,420 322,252 12,051 4,892,723 181 Page
ENFIELDTOWN COMMUNITY CHURCH Notes to the Flnanclal Statements 13. RELATED PARYY DISCLOSURES Janet 8urrowes, the wife of Trustee David Burrowes, was employed as a Church administrato¥ and received a saléry of £17.928 during the year12022'. f 16,8841. Karen Wisbey, the wife of Trustee L)avid Wisbey, was employed as a Church Adminlstrator and received a salary of £17,616 during the year12022.. £16.6081. 14. SUBSIDIARY UNDERTAKING The Church owris 100% of the share capital of EEFC Property Developments Ltd. The company is dormant and h35 net assets of just £1. 2023 2022 Net income Assets Total