CHARITABLE INCORPORATED NUMBER: 1175011 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024 ENFIELD TOWN COMMUNITY CHURCH CONTENTS OF THE FINANCIAL STATEMENTS Reference and Administrative Details Report of the Trustees 3to5 Auditors Report 6t08 statement of Financial Activities Balance Sheet 10 Cash Flow Statement 11 Notes to the Financial Statements 12to 19
ENFIELD TOWN COMMUNITY CHURCH REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1175011 Principal address 79 Cecil Road Enfield EN2 6TJ Audltors Carter & Coley Limited 3 Durant 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 2024) Dougal Burrowes {from 24 March 2024) Rob Cawley Colin Clark Jonathan Gregory Nathan Howard Tim Lock (until 15 April 2024) Matt Mayer {from 24 June 2024) David Parker Sam Sinyinza David Wisbey Andrew Wright
ENFIELD TOWN COMMUNITY CHURCH REPORT OF THE TRUSTEES for the Year Ended 31 December 2024 The Trustees present their report with the financial statements of the charity for year ended 31 December2024. The Trustees have adopted the provisions of Accounting and Reporting 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 {FRS 102) (effective 1 January 2019}. AIMS AND OBJECTIVES The church's purpose, taken from our Constitution, is "the advancement of the Christian faith in accordance with the Basis 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 Faith, including but not limited to.. the prevention and relief of need, hardship and sickness and the advancement of education Our aim is to make Jesus known in Enfield Town as we grow to know him 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 public benefit published by the Charity Commission in exercising their powers or duties. ACTVITIES THROUGH THE YEAR The principal activity 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. Sunday services were held in person, with services broadcast online for those unable to attend in person. The broadcast of services on line has increased 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 attendance. The bi-weekly prayer meeting and bi-weekly Grow Groups for bible study and prayer in small groups continued through the year and we continued to support our missionary family in various parts of the UK and abroad. Our new Explore courses for those interested in finding out more about what being a Christian really means were launched, replacing the previous Christianity Explored courses. Apart from formal Church Members, Meetings, which are for formal members only, all the church's meetings and events were open to the general public, who were regularly invited through the church's website, social media and other means of engaging with the local community. Nathan Howard continued as Senior Pastor, taking the lead in the preaching and pastoral care since September 2017. Tim Lock continued in the role of Outreach Pastor until 15 April 2024, when he left following his appointment as the new Pastor at nearby High Barnet Baptist Church. He was replaced from 24 March 2024 by Dougal Burrowes as our new Outreach Pastor. Jonathan Gregory continued in his role as Discipleship Pastor, Rachel Jones and Heather Ovey both continued as part-time Woman's Workers and James Critoph continued as part-time Children's Worker. There were a number of movements of throughout the year with new people attending and joining as church members and other ohanges as a result of death, transfers to other churches and resignations.
ENFIELD TOWN COMMUNITY CHURCH REPORT OF THE TRUSTEES for the Year Ended 31 December 2024 FINANCIAL REVIEW Financial position The Church had income of £484,358 (2023.. £490,169) and expenditure of £528,279 (2023.. £529,048) leaving a deficit of £43,921 in the year (2023.. deficit £38,879). The deficit includes £5,383 of depreciation {2023.' £6,729). Grant making and investments The church makes small financial grants to church members and others in regular attendance who are in need of financial support through its Fellowship Fund, which is funded through those attending the church making donations. 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 Charity Commission guidance in ensuring appropriate financial reserves are maintained. Reserves poliey The elders have reviewed the reserves policy and consider it prudent to keep reserves of £60,000, which are not invested in tangible assets and are unrestricted. The Church's General Fund at 31 December 2024 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 continue to work in partnership with other like-minded local churches, in particular those in the 'Together for Mission, Partnership of churches. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The church is registered as a Charitable Incorporated Organisation (CIO) with the Charity Commission. The Church is controlled by its governing documents, the Church Constitution and Church Handbook. Recruitment and appointment of new trustees The Elders, who are the Charity Trustees, are responsible for the spiritual and pastoral oversight of the church. The Elders oversee all Church meetings and all Church activities. Nominations for a new Elder {or the re-appointment of an existing Elder) 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 800/0 of the members present and voting must vote in favour. The procedure for the appointment of Deacons is also outlined in the Church Handbook. Deacons are appointed by the Elders.
ENFIELD TOWN COMMUNITY CHURCH REPORT OF THE TRUSTEES for the Year Ended 31 December 2024 The Church Secretary is responsible for the induction of new Elders which involves an awareness of the responsibilities of the position, the governing documents, and the chLfrch's policies and procedures. Key management remuneration The Church has a sub-committee consisting of some of the Elders {Trustees} 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 major risks 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 reviewed as and when is appropriate. VOLUNTEERS The Church's activities rely on the commitment of large number of volunteers. The Church recognises 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 give a true and fair view of the state of affairs of the Church and of its financial activities for that period. In preparing those financial statements, the Elders {Trustees) are required to: (a) select suitable accounting policies and then apply them consistently; (b) make judgements and estimates that are reasonable and prudent., (c) state whether the policies adopted are in accordance with SORP 2005 and with applicable accounting standards, subject to any material departures disclosed and explained in the financial statements., (d} prepare the financial statements on the going concern basis unless it is inappropriate to assume that the church will continue. The Elders are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the Church and to enable them to ascertain that the financial statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the Church and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities. Signed on behalf of the Trustees N Howard 28 October 2025 gl,,/'
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF ENFIELD TOWN COMMUNITY CHURCH Opinion We have audited the financial statements of Enfield Town Community Church (the 'charity') for the year ended 31 December 2024 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 preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the charity's affairs as at 31 December 2024 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. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relatlng to going concern In auditing 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 uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going 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 sections of this 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. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF ENFIELD TOWN COMMUNITY CHURCH 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 othetwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. 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 exception We have nothing to report in respect of the following matters where the Charities (Accounts and Reports> Regulations 2008 requires us to report to you if, in our opinion.. the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements., or sufficient accounting records have not been kept; or the financial statements are not in agreement with the accounting records and returns., or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Statement of Trustees, Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of 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 going concern, disclosing, as applicable, matters related to going concern and using the going concern basis 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 responsibilities for the audit of the financial 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 objectives 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 ofthe Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS {UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material 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.
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF ENFIELD TOWN COMMUNITY CHURCH The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below= We obtained an understanding of the legal and regulatory frameworks that are applicable to the charity and determined that the most significant are those covered by the Statement of Recommended Practice for Charities {SORP 2019) 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 assessment 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 meetings and correspondence with regulatory bodies. We considered the risk of fraud through management override by incorporation testing ofjournal entries 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.uklauditorsresponsibilities. This description forms part of our Report of the Independent Auditors Use of our report This report is made solely to the charity's trustees, 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 charity's trustees those matters we are required to state to them in an auditors, 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 audit work, for this report, or for the opinions we have formed. Carter & Coley Limited Chartered Accountants and Statutory Auditor 3 Durrant Road Bournemouth Dorset BH2 6NE Date.. 28 October 2025
ENFIELD TOWN COMMUNITY CHURCH STATEMENT OF FINANCIAL ACTIVITIES for the Period Ended 31 December 2024 Notes UnrgStrict9 d funds Restricted funds Total 2024 Unrestrlcts d funds Restricted funds Totsl 2023 Donations and le acies Charitable activities Church activities Investments Total 464 341 471,535 440,656 445,348 9,175 10,842 484 358 33,368 11,453 490,169 491552 485 477 Charitable activities 528 279 538,886 516,622 12,426 529,048 Total 528 279 538 886 516 622 12,426 529 048 Net income Transfers between funds Net movement in funds Total funds brought forward Total funds carried forward 43,921 1,205,529 3,413 3,648,315 38,879 4,892,723 4,853,844 1,236,674 3,657,049 11 1,161,608 3,644,902 4,806,510 1,204,529 3,648,315 4,853,844 CONTINUING OPERATIONS All income and expenditure have arisen from continuing activities. The notes on pages 12-19 form part of these financial statements.
ENFIELD TOWN COMMUNITY CHURCH BALANCE SHEET At 31 December 2024 Notes 2024 2023 Fixed assets Tan ible assets 4,581,246 4,567,570 Current assets Debtors Cash at bank and in hand Investments 31,469 262,301 202,725 231,774 293 771 Creditors.. Amounts fallin due within one ear 10 6,510 7,497 Net current assets 225 264 286 274 Total assets less current Ilabilities 4806 510 4 853 844 The funds of the charit Restricted funds 3,644,902 3,649,315 Unrestricted funds 1,161,608 1,204 529 Total funds 4 806 510 4 853 844 The financial statements were approved by the Board of Trustees on 28 October 2025 and were signed on its behalf by.. N Howard rd -Trustee The notes on pages 12-19 form part of these financial statements. io
ENFIELD TOWN COMMUNITY CHURCH CASH FLOW STATEMENT for the Period Ended 31 December 2024 2024 2023 Cash flows from o eratin activities Cash enerated from o erations 52,358 55,525 Net cash rovided b eratin activities 55,525 Cash flows from investln Interest received Purchase of tan ible assets Net cash rovided b investin activities 10,842 19,060 15,879 4,425 activities Chan e in cash and cash e uSvalents in the re ortin eriod Cash and cash equivalents at the beginning of the reporting eriod 262,301 322,251 Cash and cash e uivalents at the end of the re ortin eriod 201725 262 301 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES Net {expenditure)lincome for the reporting period (as per the statement of financial activities Ad"ustments for.. De reciation char Interest received Decrease lincrease in debtors Increase in creditors (47,334) (38,879) es 5,384 10,842 1,421 987 11,454 12,624 703 Net cash used in eratin activities The notes on pages 12-19 form part of these financial statements. li
ENFIELD TOWN COMMUNITY CHURCH Notes to the Financial Statements ACCOUNTING POLICIES Basls of preparing the financial statements and assessment of going concern The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102} 'Accounting and Reporting 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 {FRS 102} (effective October 2019) and the Charities 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 uncertainties about the Church's ability to continue as a going concern. Critical accounting judgements and key sources of estimation uncertainty In preparing financial statements it is necessary to make certain judgements, estimated and assumptions that affect the amounts recognised in the financial statements. The following judgements and estimates are considered by the trustees to have most significant 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 annually. They are amended when necessary to reflect urrent estimates, based on technological advancement, future investments, economi utilisation and the physical condition of the assets. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably Donations arising under Gift Aid are accounted for on the date of receipt and provisions are made for income tax remaining unclaimed at the year end. No value of services by volunteers has been included in these accounts. Legacies are recognised when there is absolute certainly to the entitlement to the income. Expendlture Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing 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 directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Tangible fixed assets Tangible fixed assets are initially recognised at cost. The freehold properties are revalued on a periodic basis over a five-year term and the revalued amount is subject to an impairment review at the end of each year. 12
ENFIELD TOWN COMMUNITY CHURCH Notes to the Financial Statements Tangible fixed assets cont'd Depreciation is provided at the following annual rates in order to write off each asset over its estimated usefu5 life. Fixtures and fittings - 20 % on reducing balance Computer equipment- 20 % on reducing balance Taxation The charity is exempt from tax on its charitable activities. Debtors Trade and other debtors are recognised 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 limitations. Creditors Creditors are recognised where the charity has a present obligation resulting from a past event that will 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 are recognised at their settlement amount. Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially settled at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amorlised cost using the effective interest method. Fund accountlng Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Pension costs and other post-retirement benefits The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. 13
ENFIELD TOWN COMMUNITY CHURCH Notes to the Financial Statements Donations and le acles 2024 Unrestricted funds 2024 Restricted funds 2024 Total funds 2023 Unrestricted funds 2023 Restricted funds 2023 Total funds Donations Le acies Total 462 277 469,471 2,064 471535 433,811 4,692 438,503 6,845 445,348 464 341 7,194 440,656 Church activSties 2024 Unrestricted funds 2024 Restricted funds 2024 Total funds 2023 Unrestricted funds 2023 Restricted funds 2023 Total funds Events and activities Total 9,175 9,175 33,368 33,368 33,368 Investment income 2024 Unrestricted funds 2024 Restricted funds 2024 Total funds 2023 Unrestricted funds 2023 Restricted funds 2023 Total funds Bank interest Total 10,842 10,842 11,453 11,453 Ex enditure: Charitable activities 2024 2024 Unrestricted Restricted funds funds 2024 Total funds 2023 Unrestrlcted funds 2023 Restricted funds 2023 Total funds Church activities Total 528,279 528,279 10,607 10,607 538,886 538,886 516,622 516,622 12,426 529,048 529 048 The audit fee was £5,00012023 - £5,403). 14
ENFIELD TOWN COMMUNITY CHURCH Notes to the Flnancial Statements Staff costs 2024 Unrestricted funds 2024 Restricted funds 2024 Total funds 2023 Unrestricted funds 2023 Restricted funds 2023 Total funds es National insurance Pension Employment allowance Total 244,107 23,717 20,732 (5,000) 244 107 23,717 20,732 (5,000) 228,994 18,780 19,493 (5,000) 228 994 {5,000) 283,556 283 556 262 267 262 267 Remuneration during the year was paid to four trustees totalling £108,147 (2023- three £106,682) in respect of their employment as Pastors of the Church. None of the trustees received any remuneration for their involvement as trustee. No other benefits were received by trustees during the year nor for the period ended 31 December 2024 or 2023. No employee earned in excess of £60,000 (2023 - nil). Key management The trustees consider the Key Management of the Church to be that of the Pastors, Associate Pastors & Pastors in Training. During the year the Key Management received remuneration totalling £108,147 {2023'. £106,682). There were no trustees, expenses paid for the year ended 31 December 2024 nor for the period ended 31 December 2023. The average number of employees during the year was as follows., 2024 No. 2023 No. Pastoral team Pastor in trainin Administrative and su Total ort staff 7. Tangible fixed assets Freehold ro Fixtures & Computer ui ment Total Cost Cost at the be Additions Cost at the end of the innin of the eriod 4 540,649 19,060 4 559 709 40,847 11,323 4,592,819 19,060 4 611,879 eriod 40,847 De reciation At the be innin of the Char e for the ear At the end of the eriod 21,089 3,951 25,040 25,250 5,383 eriod Net book value at be innin of the eriod Net book value at end of the eriod 4,540,649 4 559 709 19,759 15,807 7,162 5,730 4,567,570 4,581,246 15
ENFIELD TOWN COMMUNITY CHURCH Notes to the Financial 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 significantly different to that figure. The properties comprising that class of asset will be revalued on a periodic basis over a five-year term and the revalued amount will be subject to an impairment review at the end of each year. Any impairment provision necessary will be written off immediately in the Statement of Financial Activities. The next revaluation was due 3111212024 but has yet to be completed. 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 Properties. 8. Debtors 2024 2023 Other debtors Mission Housin Pre ments Total Gift aid receivable Loan 19,564 10,000 484 30,048 19,245 10,000 2,224 9. Current asset investments 2024 2023 Shares in Total rou undertakin 10. Creditors: amounts falling due within one year 2024 2023 Other creditors Accruals Total 6,510 6,5qO 5,403 7,497 16
ENFIELD TOWN COMMUNITY CHURCH Notes to the Financial Statements 11. Movement in funds Balance at 1 January Income Expenditure Transfers Balance at31 December 2024 Unrestricted fund General fund Buildin reserve ment fund Turke street Total unrestricted funds 278 049 863,876 62,775 171 1204,529 484,358 528 279 13,676 19,060 5,384 220,452 882,936 57,391 171 1160 608 484 358 528,279 Restricted funds Fellowshi fund Fixed asset fund Turke Street ro ect Total restricted funds 7,194 10,607 4,152 3 640,919 831 3 645 902 3,640 919 831 3 649 315 Total 4 853,844 491552 538,886 4 806,510 2023 Unrestricted fund General fund Buildin reserve ui ment fund Bu Street fund Turke Street Total unrestricted funds 305,200 863 876 53,625 13,144 171 1235,674 485,477 503 478 9,150 278,049 863 876 62,775 9,150 171 1204,529 485 477 516 622 Restricted funds Fellowshi fund Fixed asset fund Turke Street ro ect Total restricted funds 15,189 3,640,919 941 3 657,049 4,692 7,565 3,640,919 831 3 649,315 110 12,426 Total 4 892 723 490 169 529,048 4 853 844 FixedAsset ReseNes is the value of the properties and any subsequent revaluations. Bury Street are funds received and spent on behalf of the named congregations which were established by the Church. In June 2022 Bury Street Community Church (BSCC) became an independent Charitable Incorporated Organisation. The balance of the net income was transferred to BSCC in 2023. 17
ENFIELD TOWN COMMUNITY CHURCH Notes to the Financlal Statements Turkey Street Project is money received relating to the Turkey Street Project to develop a new Church in the area. The General Fund is donations and other income received or generated for the objects of the church without further specific purpose. 12. Net assets b funds Fixed assets Bank and cash Other net current assets Balance at31 December 2024 Unrèstricted funds General fund Buildin reserve ui ment fund Turke street Total unrestricted funds 196913 23,539 220,452 882,936 57,391 171 1160 608 882,936 57,391 171 196,742 940,327 23,539 Restricted funds Fellowshi fund Restricted fixed asset reserve Turke Street ro ect Total restrlcted funds 4,152 4,152 3,640,919 831 3 645 902 3 640,919 831 3 640,919 Total funds 4 581246 201725 4805 510 2023 Unrestricted funds General fund Buildin reserve ui ment fund Bu street fund Turke street Total unrestricted funds 254,077 278,049 863,876 62,775 171 1,204,529 863 876 62,775 171 253,906 926,651 Restricted funds Fellowshi fund Restricted fixed asset reserve Turke Street ro ect Total restricted funds 7,565 7,565 3640919 831 3,649,315 3,640 919 831 8,396 3 640,919 Total funds 4 567 570 262 302 23,972 4 853,844 18
ENFIELD TOWN COMMUNITY CHURCH Notes to the Financial Statements 13. RELATED PARTY DISCLOSURES Janet Burrowes, the wife of Trustee David Burrowes, was employed as a Church administrator until June 2024 and received a salary of £8,460 during the period {2023'. £16,884). Karen Wisbey, the wife of Trustee David Wisbey was employed as a Church Administrator and received a salary of £18,504 during the period (2023 - £17,616). 14. SUBSIDIARY UNDERTAKING The Church owns 100% of the share capital of EEFC Property Developments Ltd. The company is dormant and has net assets ofjust £1. 2024 2023 Net income Assets Liabilities Total 19