COMPANY REGISTRATION NUMBER: 10157473 CHARITY REGISTRATION NUMBER: 1177855 The Old Apostollc Church (England) Company Limited by Guarantee Financial Statements 31 December 2023 STEPHENSON COATES AUDIT LIMrrED Chartered accountant & statutory auditor West 2, Asama Court Newcastle Business Park Newcastle upon Tyn8 NE4 7YD
The Old Apostolic Church (England) Company Llmlted by Guarantse Financial Statements Year ended 31 December 2023 Page Trustees, annual report (incorporating the directorfs report) Independent auditor's report to the members Statement of financial activities (including income and expenditure account) 10 Statement of financial position 11 Notes lo the financial statements 12
The Old Apostolic Church (England) Company Limited by Guarantso Trustees. Annual Report (Incorporating th8 Diro¢tors' Report) Year ended 31 December 2023 The trustees, who are also the direetors for the purposes of ccfflpany law, present their report and the financial statements of the chanty for the year ended 31 December 2023. Reference and admlnlstrdtlve detalls R•glsternd charity name The Old Aposloltc Church (England) Charity regi$tr•tlon nUmr 1177855 Company regl$tratlon number 10157473 Princlpal office and regl$ter•d 46 Station Road office Kings Langley Hertfordshire WD4 8LB The trustees M Fourie U Jacob A Herbst S Paynè G Reineke B Richler C Robus J Vermaak (resigned 25 November 20231 S Maritz Company s•crelary S Payne Auditor Stephenson Coales Audrt Limited Chartered accountsnl & stalulory auditor West 2. Asama Court Newcasile Business Park Newcasue upon Tyne NE4 7YO Structur•i govornance and management The charity is a company limited by guarantee. The eonstilulion th* is the charity's governing document i% the Memorandum and Artides ol Associalion adopted on 30 Ap¥il 2016. On l May 2018 the actlvrtbes, assets and Ilabililies of Ihe unincorporated assoGialion, The Old Apostolic Church, were transferred by donation to the charity. The charity may by ordinary resolution at an annual general meeting appoint a persly) who is willing lo a¢t as trustee, subje¢i lo the approval of the Apostolate. None of the trustees has any beneficial interest in the Company. Al of the trustees are the members of Ihe ¢panY and guarantee lo contribute £1 in the event ofwinding UP.
The Old Apostolic Church (England) Company Limltod by Guarantee Trustees, Annual Report Ilncorporating the Directors, Report) {conUftU Year ended 31 December 2023 Objective$ and adlvltl The Charity's objects are specificalty restricted lo the folbwlng.. - {11 To promote the gospel of Jesus Christ in the doctrine of the Church for the benefit of the public.. 121 To establish ¢ongragalions for the promotion of the said doctrine ol the Church the benefit of the public.. and 131 To establish Sunday schools, coirs and other fun¢lws, hawng for their obiects the instruction and training of the adherents in the said doctrine of the Church for the beneffil of the public. The trustees have considered Ihe guidance produced by the Charity CommissKn on the prows¢on of Public Benefit {in particular the specific guidance on charttles for the advanc¢m6nt of religion) and confimi that public benefit has been provided by'.- Promoting the whole mission of Ihe church Ihrough spiritually led activities for Indlvkluals and families. Providing regular public worship open lo all (including through the use of lechnologyl. Conducting pastoral w(xk includitYJ Visbting the sick and the bereaved. Teaching Christianity through 5erwces, Courses and group-based activities. ProvKling Sunday School and Confirmation Classes. ReguLgr empowering and training of Church office and Help Powers, Delivery of Fellowshlp actsvilies through Communty picnics and outings. The Charitvs main activib'es ale Sunday servIs, mhdweek Bread breaking activrties induaing Bible stLJdies and Evangelistic aCtivitS in the Community, empoweimenl of Piophelic a¢tivitses wilhin the Officer Structure and wider Community, Sunday School and Confirmation Cla55 prowsion, provision of Choirs and related choir practices, promth'on of church mission including maiters of social concern, visilalion of Members and visitors that are sick and elderly in Hospiials. To provide acce55 to these actiwlies (where large physical distances would typically prohibit this) the provision of technology solutions is used lo facililale this. Thè Church is supported by Church offerS, Help Powers and Officials who provide their seryices and support in a voluntaiy and unpald capacty. Their fallhlulness and contribution remains a Church strength. The following sections for achievements and performance and financial review form the strategic ¥eport of the charity.
The Old Apostolic Church (England) Company Limited by Guarantsè Trustses. Annual Report (Incorporating the Directors, Report) {coniinuo¢J Year ended 31 December 2023 Achievements and perfomianee Due lo the splrrtual nature of the church's obj'ectives f( is difficult lo quanlffy achlevemenls.. however, we have in the past year achieved and undertaken the following actwrties.. Continued lo extend our engagement with Members and VisiloT5 by making SeNces and general Comrnunty activities available through a hybrid solution of technology and in¢reased in-person activities. Successfully moving out of a post-COVID environment Six successful Ap0511e Serwees during Ihe year across the full Overseership, inCdIj a Sealing Service in the North of England 2 Souls Sealed in the year Continued delivery of all weekly activities using Zoom Tg¢hnology Growth of the pan-European Youth activrties, delivering 7 integrated youlh activities allowin9 Church Youth from Ireland, Portugal and Gemiany lo interact with the Youth from the United Kingdom Expansion of the p8n-Europe8n Community actiwties wilh an increase in the number of United Kingdom Communrties now involved in the programme uniting Church Members from lieland, Portugal and Germany with the Members from the United Kingdom Continuation of the pan-European Sunday School Community activiiy allowing Sunday School children from Ireland, Portugal and Germany lo interact with th¢ Sunday School children from the United lfjngdom Growth in the pan-European Senior Members activity allowing Senior Members from Irelarld. Portugal and Gemiany to interact with the Senvjr Members fiom the United lfjngdom The year also includèd thè start ol planning for an Apostleship Youth Camp being hosted in England in July 2024, with associated fundraising. Addilionally an Eldership Youth Camp was successfully held in the North of England during the year. Sunday Schools remain estsblished within all Communitses. allowing the foundalion of the Teaching lo be shared wrth Sunday School as well 83 visiting chiklren. Several Sunday School outings and activities were enjoyed throughout the year. Average 111 Sunday Cornmunion Service allendance during the period was 219 souls (increase on prior yearl, including 14 visitots (cSIStent with prior year) Flnanclal rnvlèw The Church benefitted from £176.42812022.. £150,552) i) voluntary tithes. contributions and donalions during the financial year under rewew, £1,625 12022. £1371 through Community Fundraising actI1t1es and a further £35.226 {2022". £6,236) in invèstmènt income. Tot31 expendilure on direct charitable activities amounted to £105,619 12022.. £46,463), wrth £1,272 12022.. £65) èxpandilurè ineurrad on fundraising aclivilies. The Nel Income forthe financial year amounle(I to £1[,38812022'. £110.39n that has been transferred lo Unrestricted Reserves al the end of the year. The Church's policy on holding reserves is for the purpose of:. Ensuring the Church can sustaln 8nd grow fts expansion whlle ftI1111n9 its objectives and without the need lo access debt Over the long tem lo be able to have the opportunity lo acquire immovable property, across a wide geography. to support rts community activities and presence.
The Old Apostolic Church (England) Company Limited by Guarante8 Trusto8s' Annual Report Ilncorporating the Dirgctors, Report) (contlnu•dJ Year ended 31 December 2023 Financial revlew l¢ofttinuqd) Unreslricled reserves held al the end of the financi81 year amounts to £1.425.569 (2022.. £1.319.1811. This is Considered the free reserves of the Church. The Church is expected lo continue as a going concern. The funds ofthe Church are cotlected by rneans of tithes, ¢tributIOnS and donations that are made on a voluntary basis. During the financial year, £1.275m was re-invested in a 12 month money market account which is generating investment income for the charity. The Church has assessed the Major risks to which it is exposed, and Is satlsfie¢J that systems are in place to mitigate exposu lo the major risks. Trustees, responsibilities statement The Iruslees, who are also diiectors for the purposes of company law, are responsible lor preparing the trustees, report and the financial staleTnenls in accordance with applicable law and United Kingdom A¢¢ounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity Iruslees lo prepare financial ststgmants for each year which give a Iwe and fair view of the state of affairs of the Charitable MpanY and the incoming resources and application ol resour$, including the income and expendrture, for that year. In preparing these financial slalements. thè Iwslaes are required to.. select suilable accounting poliCS and then apply them c(x)sis1gntly'. observe the rnethods and principles in the applicable Charities SORP- make jIgmentS and a¢countlng eslimates that are reasonable and prudent.. stale whether applicable UK Accounting Standards have been followed, subject lo any m81erial departures disclosed and explained in the financial statements.. prepare the financial slalernents on the going concern basis unless It is Snappioprialg lo prgsume that the charity will continue in busines5. The trustees are sponsible for keeping adequate accounting records that are Sufflent lo show and explain the charitvs transaclitins and disclose with reasonable accuracy al any lime the financial posillon of the ¢harity and enable them lo ensure that the financial statements comply WTth the Companies Act 2008. They are also Sponsible for safeguardin9 the assets of the charity and hence for taking 8$Onable steps for the prevention and deleclion of fraud and other irregularities.
The Old Apostolic Church (England) Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directors. Report) (eonllnuédj Year ended 31 December 2023 Auditor Each of the persons who is a trustee at the date of approval of this report confirms that.. so far as they are aware. there is no felevanl audit information of which the charrty's auditor is unaware" and they have taken all steps that they ought to have taken as a Iruslee to make themselves aware of any relevant audit inf0m1atn and to establish that the charity'5 auditor is aware of that infomiation. The Iwstees, annual report and the financial statements were approved on 18 July 2024 and signed on behalf of the board of trustees by.. S Payne Trustee
The Old Apostolic Church (England) Company Limitsd by Guarantse Independent Auditorfs Report to the Members of The Old Apostollc Church (England) Year ended 31 December 2023 Opinion We have audiled the financSal statements of The Old Apostol Chureh IEnglandl Ilhe'charill) for the year ended 31 December 2023 which comprise the slalemenl of financial a¢tiwtiès lincluding income and expendrture accounll. stalemènl of financial position and the related notes. in¢luding a summary of signrficant accounting policies. The financial rèporting framework that has been applied in Ihglr preparation is applicable law and Unitèd Kingdom Accouniing Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland Iunited Kingdom Generally Aepted Accounling Practice). In our opinion the financial ststernenls.. give a true 8nd fair vwl of Ihe slate of tho charitls affairs as al 31 December 2023 and of its incoming resource5 an¢J 4p[l¢allOn of resources. including its income and expenditure, for the year then ended: have been propedy prepared in accordan with United Kingdom Gènarally Apted Accounting Pia¢ti¢e', have been prepared in ac£ordancè with the requirements of the Companies Act 20(. Basis for opirbion We conducted our audit in accordance with Intemalional Standards on Audibng {UK) IISAS IUKII and applicab law. Our responsI.11t1eS under those standards are further describèd in the audilorfs responsibilities for the audil of the financial statements section of our report. We are Independent of the charity in accordance with the ethical requirements that a relevant to our audrt of the financial statements in the UK. including the FRC'S Elhical Standard, and we have fulfilled our olher ethical respon5ibililies in 8¢¢Ofdan¢e with thesè requirements. We believe that the audit evidence wè have obtained is sufficient and appropriate lo prowde a basis for our opinion. Con¢lu$ions r*latJng to golng concem In auditing the financial stalemenls, we have nClude(l that the directors, use of the going concern basis of accounting in the preparation of the financ4al slalements is appropriate. Based on the work we have performed, we have not identified any material uncertainlEs relating lo events or conditions that. indiwdually or collèctivèly, may cast signiftcant doubt on the company's ability to continue as a going concem for a period of 8t least 12 months from when the financAal statements are authorised for issue. Our SponSibl1111es and the responsibilities of the directors with respect lo going concem a deS(bed in the relevant sections of Ihls report.
The Old Apostolic Church (England) Company Limited by Guarantee Independent AudIt0$ Report to the Members of The Old Apostollc Church (England) I¢oniinu*} Year ended 31 December 2023 Oth•r Infom)atlon The other information comprises the information included in the annual report. olher Ihan the financ4al slalements and our auditor's report Ihereon. The Iruslees are resp)nsible for tho other infomiation. Our opinion on the financial statements does not cover the other information and. except lo the extent otherwise explicitly 8tale¢J in our report. we do not express any fomi of assurance con¢lu5ion Ihereon. In connection with our audit of the financial statements, our responsibility is lo read the other information and, in doing so. consider whether ihe other information 15 rnalerially inconsistent with Ihe financial statements or our knowledge obtained in the audbt or otherwise appear5 to be materially misstated. If we identify Such material inconsistencies or apparenl material misslalernenls, we are required to determine whether there is a matèrK41 misstatement in the financial statements or a material misslalement of the other infomiation. If, based on the work we have performed. we wnclude that there is a material misstalement of this other information, we are required to report that faci. We have nothing lo report in this legard. Opinions on other matters Prcribed by the Compani•s Aet 2006 In our opinion. based on the work undertaken in the course of the audit.. the informalion given in the Irustees, report for the finartcial year for which the financial slalements are ppared is consistenl with the financial statements,. and the trustees, report has been prepared in accordance with applicable legal requlremenls. Matters on which we ar• r•qulr•d to rèport by CeptIon In the light of the knowledge and understanding of the charity and ils envbronmenl oblalned in the course of thè audit, wa ha not identrfied material misstatements in Ihe Iruslee5' report. We have rthIng lo report in respect of the folbwing mallers in relat)n to which the Companies Act 21J)6 requires us to report to you if, in our opinion.. adequate accounting records have not been kept, retum5 adequate for our audil have not teen received from branches not visited by us.. or the financial statements are not In agreement with the accounting records and retums- or certain disclosures of Iruslees. remuneration Specified by law are not made,. or we have not received all the information and explanations we requfj foi our audit.
The Old Apostolic Church (England) Company Limited by Guarantee Independent Auditor's Report to the Members of The Old Apostolic Church {England} I¢oniinued) Year ended 31 December 2023 Responsibilities of truste As explained more fully In the trustees, responsibilities statement. the trustees (who are atso the directors forthe purposes of company law) are responsible for the preparation of the financial stslements and for being satisfied that they give a true and fair view. and for such internal control as the Iruslees detemiine is necessary to enable the preparation of finanoal statements that are free from material misstslement, whether due to fraud or error. In Preparing the financial statèmènls, tho trustees are respon&ble for assessing the charitys ability lo continue as a going concern. disclosing. as applicable. matters related to going concern and using the going c4)ncern basis of accounting unless the Iruslees either intend lo liquidate the charity or lo cEase operations, or have no realistic atternalive bul to do so. Auditorfs mponslbllltl•s forth• audit of the financial ststements Our objectives a lo obtsin reasonable assurance about whether the finanaal stslemenls 8s a whole are flee from tn8lerial misstslemenl, whether due lo fraud or error, and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstaternent when il exi515. Misstatement5 can arise from fraud or eiror and aro ¢on$ider8d material if, individually or in the aggregate, they could reasonably be expected to influence the eeonomic deusions of users taken on the basls of these finanrAal statements. Irregularities, including fraud, are instsn¢es of non-compliance wlh laws and regulations. We design procedures in line with our responsibilities, outlined above, lo detect rnalerial misstatements in respect of irregularities, including fraud. The extent lo which our procedures are capable of dele¢ling iiregularities, including fraud, is detailed below. As part of an audit in accordance with ISAS {UKI, we exercise professional judgement and maintain professional sceplicism throughout the audit. We obtained an understanding of the legal and regLtlalory frarnework 8pplicable lo both thè Company ilsalf and the sector in which it operates. We identified areas of laws and regulations that eould reasonably be expected to have a material effect on the financial $tatements from our sector experience and through discussK)n with the Key Management Personnel. The mosl significant identified that directly affect the financial 51alernenls include financial reporting gislalion (including related companies, legislation), the Charities Act 2011 and UK taxation legislation. The company is subject lo other laws and regulations where the consequences of non-compliance could have a maleiial effect on arnounls or disclosures in the finan¢ial statements, for instance through the imposition of fines or lrtigalion. We identified the following areas as those most Ilkely lo have such an effect.. Heanh and Safely. Safeguarding and Data Protection regublions, re¢ognising tho natu ol thè CoMpanS activities. We considered the extent of compliance with those laws and regulations as part of our procedures on the related fin8nci81 slalemenls. Our audit piocedures induded". making enquiries of Trustees as lo where they consider there lo be susceplibilrty lo fraud and whether they have any knowledge or suspicion of fraud., obtainin9 an understanding of the internal controls established to mili9ate risks related lo fraud or non-compliance with laws and regulations., assessing the design effectiveness of the controls in rAace to pvent and detect fraud,. assessing Ihe risk ol management override, inclutting idenb'fying and lesling journ81 entries., challenging the assurnpb"on5 and judgements made by managgmenl in its accounting policies and esllmales.
The Old Apostolic Church (England) Company Limitgd by Guarantse Independent Auditorfs Report to tho Memb8rs of The Old Apostolic Church (England) (conllnuedl Year ended 31 December 2023 Our audit did not idenlrfy any key audit matters relating to the detect*Jn of irregularffjes includlng fraud. However, despite the audit being planned and conducted in accordance with ISAS IUKI there MaInS an unavoidable risk that material misslaternenls in the financial slalements may not be detected owing to inherent limitations of the audit and thal by Iheirvery nature. any such instsnces of fraud or irregularity likely involve collusion. forgery, intentional misrepresentations, or the overrKle of inlemal controls. A furlher description of our re5ponsibilit$ Is availab19 on the Financial Reporting CounrAI'8 website aL' https'.lA.frC.oIg.UklaudiIofsresponsIbIIiIIe$. This des¢riptKJn foms part of our auditorfs report. Use of our rnport This roport is made 501ely lo the charill5 members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might stale to the charitls rnembers those matters we are required lo state lo thern in an aL¥Jrtorfs report and for no other purpose. To the fullesl exlenl perrnitt by law, we do not accept or assume responsibility to anyone other than the chacity and the charitys mernbers as a body. for our audit work. for this report. or for the opinions we have formed. John oswald BA FCA Senlor Statutory Auditor stephenson C081es Audit Limited Chartered accountant & slatirtory aud((or West 2. Asama Court Newcastle Business Park Newcastle upon Tyn8 NE4 7YO 18 July 2024
The Old Apostollc Church (England) Company Limited by Guarantee Slatement of Financial Activities (including incomo and expenditure account) 31 Docember 2023 2023 Unreslrited funds Totsl fund$ Total funds 2022 In¢ome and endowments Donations and legacies Other trading actiwlies Investment income 176.428 1,625 35,226 176.428 1,62S 35,226 150,552 137 6.236 Total Income 213,279 213,279 156,925 Exp¢nditur• Expenditure on raising funds.. Costs of raising donations and legacoe5 Expenditts on Charitab activities Total ¥xyndltur 1.272 105,619 1.272 105,619 65 46,463 1Cfj.891 1(.891 46,528 Plet income and not mov•m•nt In funds 1C6.388 106,388 110,397 R•conciliation of funds Total funds brought forward Totsl funds carried foN¥ryl 1,319.181 1,425.569 1,319,181 1.208,784 1,425.569 1.319,181 The slalement of financial activities includes all gains and losses re¢ognls8d in tha financ4al year. All incomè and expendilure derive from continuing activrties. Prior year comparativas all relate to unrestricted funds. The notes on pages 12- 17 form part ol th8seflnanclal statements. 10
The Old Apostolic Church {England) Company Limlted by Guarantee Statement of Flnanclal Position 31 December 2023 2023 2022 Current assets t)ebtors Cash at bank and in harKI t2 21,818 1,437,074 23.428 1,302,081 1,458,892 1.325,509 Credltorn: amounts falllng duo wfthln one year Net current a8Bets 13 33,323 6,328 1,425,569 1,319,181 Total assets k88 current 118bllltlos 1,425,569 1,319.181 N•t assets 1.425,569 1,319.181 Funds olthe charFty Unrestricted funds 1.425,569 1,319.181 Totsl Chority funds 14 1.425.569 1.319.181 These financial statements Wore appfovod by tho board of trustees and aLbth0ri5ed for issue on 18 July 2024. and are signed on behalf of the board by". S Payne Trustee Company registration number 10157473 The notss on pAge$ 12- 17 forni pjrt oftho¥e fin4n¢l•l $totrments. 11
The Old Apostolic Church (England Company Limited by Guarantse Noles to the Financial Ststements Year ended 31 December 2023 G¢nèrnl Infom)atlon The charity is a prwate company limited by guarantee. registered in England and Wales and a registered charity in England and Wales. The addrèss of the registered office is 46 Slalion Road. Kings Langley, Hertfordshire, WD4 8LB. statement of compllanc8 These financial statements have been prepared in compliance wilh FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republi¢ of Ireland,, the Statement of Recornrnènded Practice applicable to charities preparing Iheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP IFRS 10211 and the Charit5 Act 2011. The charitable company is a public benefit entity as defined by FRS102. Accounting policie8 Basls of preparntion The financial 51alemen15 have been prepared on the hislorical cost basis. as modified by the revaluation of certain financial assets and liabilitie$ and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling. which is the functional currency of the enlily. Golng concem At the time of approving tt)e financial slatements Ihe Iruslees have reasonable expectation Ihalthe company has adequate resources to contsnu8 in operational existence lor the foreseeable futu. Thus the company continues lo adopt the going concèm basis of accounting. Judg•m8nts and key sources of estSrnation un¢*rtalnty The Preparation of the financial slalernenls requires managèm8nt to makejudgemenls. eslwnates and assumptions that affect the arnounls reported. These èstimates and judgemenls are ¢ontinually vieWed and are based on experien and olhei factors, including expectations of future events that are believed lo b& reasonable under the cirujmstances. The Iruslees consider there to be no keyjudgements or key sources of eslimalion appl In these rinancial stalemenls. Fund accountlng Unrestricted funds are availakAe for use al the dFscrelion of the trustees to lurther any of the cha¥ity5 purposes. Designated fuThJs are unrestricted fvnds earmaFked by the trustees for particular fuluie project or commitment. Restricted funds are subjected lo restrictions on their expenditure declared bythe donor or through the terms of an appeal. and fall into one of fv40 sub-da55es.' restricted income funds or endowment funds. 12
The Old Apostolic Church (England) Company Llmlted by Guarantea Notss to tho Financial Statements I¢¢1¢) Year ended 31 December 2023 Accounting poli¢l¢$ l¢onlinuedJ Incoming resources All income is included in the siatement of financial activities when enlillemenl has passed to the charity, it 15 probable that the economic benefits associated wrth the transaction will flow lo the charty and the amount ¢8n be rgliably measured. The fcs11ovng specAfic policies applied to parti¢ul8r categories of income.. Income frorn donations or grants is recogni5ed when there is evidence of entitlement lo the gift, receipt is probable and its amount can be measured reliably. Legacy income is recognised when receipt Ss probate and enlidement 1$ established. No amounts are included for Ihe conttibulion ol volunleers. Re$ourc•s •xpended All expendrturè is accounted for on an a¢¢ru8ls basis and, Whe Incurred directly to further the charity's objects, Is shown under charitable actNi118s. Govemance costs include the management of the charitable companys assets and organisalional management and compliance with conslilulional and slatulory requirements. Flnancial instruments A financial asset or a financial liability is iecognised only when the enltty becomes a party to th& c£Jnlractual pro¥isions of the instrurnenl. Ba$iG fancIal instruments are initially recognised 81 the amount receiwable or payable induding any related transaction costs, unless the arrangement Constitutes a financing Irans8¢1ion, where it is re¢ognised at the piesenl value of the future payments discounted al a market rale of inlergst for a similar debt instrument. Current assets and current ll8ts.l.es ara subsequently measured atthe cash orolher consideralion expected lo bè paid oc reiVed and not discounted. Debt instruments are subsequently measured al amortlsed cost. Financial assets that are measured at cost or amortised cost are rèviewed for objective evidenc8 of impaiment at ihe end of each reporting date. If there is objective évidence ol impairrnenl, an impairment loss is rec4)gnised under the appropriate heading in the stslemenl of financial aclMtTes in which the Snitial gain was recogni5ed. Any reversals of impairment are recognised immediately, lo the extent that ihe reversal does not sult in a carrying amount of the finanaal asset that exceeds what the carrying amount would have been had the impairnient not previously been rewgnised. Donated tim¢ •nd s•rrflc•s Time and s8rvice is expended on the Charty's actiwties and governance whi¢h is donated free of charge. It is impractical lo quanlifylbe value of the time given. and accordingly it is neither recorded as don81ed Income nor as an expense in the fu)anryal slatements. 13
The Old Apostolic Church (England) Company Limited by Guarantea Notes to tho Financial Statements (conenu•d) Year ended 31 December 2023 Limited by guarantse The Old AposlolS¢ Church (England) 15 a company1Smfted by guarantee and accordin9ly does not have a share capital. All of the tfuslees are the membars of the company and guarantee to contribute £1 in the event of winding UP. Donations and lègacl88 Unrestricted Total Fund$ Unrestricted Total Funds Funds 2023 Funds 2022 Donatlons rrthe Income Officers Trthe Income Members 108,607 67,821 108,607 67,821 93,606 56,946 93,606 56.946 176,428 176.428 150,552 150,552 0th8r trnding activities Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Fund5 2022 Fundraising events 1.825 1.625 137 137 In¥•$tment Incom• Unrestricted Totsl Funds Unrestricted Total Fund5 Funds 2023 Funds 2022 Bank interest receivab 35,226 35,226 6.236 6,236 Costs of rnlslng donation¥ and l•ga¢le$ Unrestricted Totsl Funds Unrestricled Tolal Funds Funds 2023 Funds 2022 Fundralsing costs 1,272 1.272 65 65 14
The Old Apostolic Church (England) Company Llmlted by Guaranteè Notes to the Financial Statsments (conthu Year ended 31 December 2023 Expenditure on ¢harftsbl• actlvltles by fund typ• Unrestricted Total Fund8 Unreslride(l Total Funds Funds 2023 Funds 2022 Rent Relièshments Insuiance Accommodation and subsislence Bank charges Telecommunicalw)ns Travelling expenses IT and consumables Sundry expenses Postage. courier and delivery charges Holly communion requirements Audit and accountancy fees Head office costs Statutory licences and subscriptions 27.628 1,675 1,468 16,668 251 2,309 23,175 716 700 101 27,628 1.675 1.468 16.668 251 2,309 23,175 716 700 101 10.248 1.323 1,404 9,670 351 1,754 16.243 528 1,243 10,248 1,323 1,404 9,670 351 1,754 16,243 528 1,243 34 3,643 3.915 26.974 39 3.915 26,974 39 3,643 13 13 105.619 105,619 46,463 46.463 10. Audltorg remuneratlon 2023 2022 Audil of the financial slalements Other accounting 5eryices 2,720 1,000 2,540 1,000 3,720 3,540 11. Trustee r•mun•ratlon and expenses No trustees receivèd remunerauon durin9 the financial year12022.. Nill. Twslee expenses are disclosed in Note 17. There were employees during the financial year12022.. NID. 15
The Old Apostolic Church (England) Company Limited by Guarantse Not88 lo the Flnancial Ststements InI1U Year ended 31 December 2023 12. Debtors 2023 2022 Trade debtors Prepayments and accrued income Other debtors 6.154 13.814 1.850 7,473 8,871 7,084 21.818 23,428 13. Creditor¥- amounts falling due within one ar 2023 2022 Trade creditors Accruals and deferred itKome 7,491 25,832 33,323 2,954 3.374 6.328 14. Analy$l$ of charltable fundB Unrgstricted fund8 At 1 January 2023 Incom8 Expenditure At 31 Dgcomber 2023 General fund5 1,319.181 213,279 {106,8911 1,425.589 Unrestricted fund5 (comparntivesj At 1 January 2022 Income Expenditure At 31 De¢emb•r 2022 General funds 1,208.784 156,925 146.5281 1,319,181 1S. AnalysiB of net a¥$¥ts bolw8•n funds Unrestrthd Totsl Fund$ Total Funds Funds 2023 2022 Curnenl assets Creditors less than l year Not ass•ts 1.458.892 133,3231 1,425.569 1,458,892 133,3231 1.425,569 1.325,509 {8,3281 1,319.181 16
The Old Apostolic Church IEngland} Company Limited by Guaranteo Notas to the Financial Statements (cortth>u•oi Year ended 31 December 2023 16. Flnancial instruments The carrying amount for each category of financial instrument is as follows.. 2023 2022 Flnancial assets that arè dabt Instruments measured ot amortlsed cost Financial assets that are debt instruments measured at amortised cost 8,004 14.557 Financlal Ilabllltie8 measured at amortisèd cost Financial liabilitie5 measured al amortised cost 33,323 6,328 17. R•latsd parties During Ihefinan¢ial year. trthe incnme of £18,41312022. £14,049) was received from and expens¢s of £14,54112022.. £12,565) were reimbursed lo Iruslees of tha charity. At the year end included within Irade debtors was £84212022". £8791 due from trustees. Al the year end irKluded within creditors was an amount of £Nil12022. £Nill due to Iruslees. No other relatèd party transactions to note. 17