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$tr•tlon nUm￿r
1177855
Company regl$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, c*oirs 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 CommissK*n 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 servI￿s, mhdweek Bread breaking activrties induaing Bible
stLJdies and Evangelistic aCtivit￿S 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 off￿erS, 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, inC￿dI￿j 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 (c￿SIStent 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 actI￿1t1es
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 ftI￿1111n9 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￿$, including the income and expendrture, for that year.
In preparing these financial slalements. thè Iwslaes are required to..
select suilable accounting poliC￿S and then apply them c(x)sis1gntly'.
observe the rnethods and principles in the applicable Charities SORP-
make j￿IgmentS and a¢countlng eslimates that are reasonable and prudent..
stale whether applicable UK Accounting Standards have been followed, subject lo any m81erial
departures disclosed and explained in the financial statements..
prepare the financial slalernents on the going concern basis unless It is Snappioprialg lo prgsume
that the charity will continue in busines5.
The trustees are ￿sponsible for keeping adequate accounting records that are Suff￿lent lo show and
explain the charitvs transaclitins and disclose with reasonable accuracy al any lime the financial
posillon of the ¢harity and enable them lo ensure that the financial statements comply WTth the
Companies Act 2008. They are also ￿Sponsible for safeguardin9 the assets of the charity and hence
for taking ￿8$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 inf0m1at￿n 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
A￿epted 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 A￿pted 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 Pr￿cribed 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 p￿pared 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 r￿thIng 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
CoMpan￿S 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 p￿vent 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 Charit￿5 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 fcs11ov￿ng 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 f￿ancIal 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 re￿iVed 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 I￿nI1￿U
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