REGISTERED CHARITY NUMBER: 1179013 Rèport of thè Yrustees and Unaudited FinaneTral Statemènts for the Yèar Ended 31 Decembèr 2024 for HIGHFIELDS CHURCH MHA (trading name of MHA Adviscry Lwnitedl Elfed House Oak Tree Court Cardiff G*e BLtsiness Pa CARDIFF County of Cardiff CF23 8RS HIGHFIELDS CHURCH Contents of the Financial Statements FOR THE YEAR ENDED 31 DECEMBER 2024 Pag• Report oftha Tru$ts•$ Independent Examinerfs Report 10 statement of Flnanclal Activities Balance Sheet 12 Cash Flow Statement 13 Notes to the Cash Flow Siatsment 14 Not•$ to the Financial Statements 15 to 24 HIGHFIELDS CHURCH Report of the Trustees FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present theiT f6PDrt the financial statemenls of the charity forthe period endèd 31 December 2024. Th& trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practi applicable to charities preparing their account$ in accordance with the Financ¢al Reporting Standard applicabk In Ihe UK and Republic ol Ireland IFRS 1021 leffective 1 January 2019). Page 1 HIGHFIELDS CHURCH Report of the Trustees FOR THE Y&4R ENDED 31 DECEMBER 2024 OBJECTIVES AND ACTIVITIES Charitablt objects The charity's objective and principal actimty continues lo be the promotion of Christianity. The object is mel through thè operation of a church and 11$ assr)¢iated activities such as Sunday Services. weekly clubs and activilies for children of a]1 ages as well as studenls. inlemali()nals and older members of the community. Publlc bert•fit The organisation's Iru$lees con ¢X)nfim that they have given due regard to public benefit guidance published by the Charity Commission. SignifThnl activities that we undertook during the year that demonstrate publ￿ benèfit are sel out on the following Pages. Activitles We run a whole range of a¢*'vities for all ages in Highfields Church. One of the most popular ways in which we serve the local community is thro(tgh our pr¢-$Ghool groups, whKh run on Monday and Thursday momin9s (TiddlYV￿nks Parent & Toddler Groupl.Many parents & carers from the local wmmunity Imosl of whom are no¢FHighfields faMIl￿S). come along wsth their pre-schoolers and ènjoy takin9 part tn these activities, and rnaking friends. We have also been part of the council Flyiny Start inilialive. which uses our prernises. Other groups from the rDmmunity have made more use of our premises in the recent monlhs, and we hav¢ rented Dalton Street on a regular basis lo an additional needs support group that provides dayb.me csre ttsr those ¢li¢nls ￿th additional needs during educational establishment holidays, as a iespite servu. Our Wednesday Kids dub for primary age is lull to capacity, and our Edge and Gen groups on Friday for Comprehensive age children is al80 very busy on a Friday night wlh over 80 teenagers altending the both groups. A FrKlay evening 9foLtp for Yr4-7 is also at capaoty. We continue to have excellent relationships with a number of local primary and secc)ndary SCho￿S where we are regularfy invited in to take assemblies and inpul into religlOU5 edvcatron lessons as part of thè National Curriculum and also, in the past, hosled local school's Christmas concerts Many local thildren come along to our weekly club5, With 180 or more attending the special holiday dubs taking place in ¢he $th0￿ holiday5. Highfdds runs 8 significant ministry for Intemalionals in Cardiff.. We hokl women's English Conversation Classes on Mon¢Jay and Tuesday mornings and there is also a Women's Sewng Class held every Monday lunchb.me These groups primarily serve women from predon4nanlly Muslim countries. Every monlhs 8n IrTrlemalional Families event is held whi¢h indudes inlem8ltonal food and games for the children. and an ever-in¢Jea5ing ministry involvin9 thiklfen with Addilion81 Need5 has started lo be more significant in lem)s of numbers of attendee8. We also provide opportunities for Internationals to find out more about the Chrisllan farth tt)rou9h a weekty tyble study, held on Sunday afternoon. On Sundays we njn an IntematSonal Lunch that Is spedfically Aimed at International Students. tKJt 8U lntemation￿S are welcome. Each year we take inlernalionals on a Weokend Away, and this is being restsrted in the future. We 81$0 have an inffux ol Hong Kong Chinese resetded in Cardiff and groups specthcally for them have been inttiated, and are continuing. We continue to reach oul lo students attènding the lo¢al universitses, and pur student ministry ￿tinueS lo be busy, with over 1tX) sbjdents regul8rfy 8tt&nding 8 v￿eklY dinner and bible study 8$ well as attenthng the chur¢h serwces. The Dalton Street Centfe is used by Hi9hfiekls for other rninistries. such as work with studen15 and inlematsonals, atthough it is now too srnall for some of these actiVTtItrs. so they have Moved lo the marn site. and we have seen an incyease in attenda1￿e al these ministry activib'es in 2024. We also run a very poptAar weekty coffee fflowning on Thursdays. whi¢h Is atten¢Jed by Fwple of 8118ges from the k)cal community as well as rnembeTS of the HvJhfields Church congregation. Speufic otrtreach activities, such as a >2-1 Course and Chrislianily Explored Course for those who wish to find out more about the Chri5t*an faith are run from Highfields Church, and we regularty hold events or Services partiCu￿rIY aimed at non-Christi8ns. where they can find out more. In 8ddTtion, we also work ￿th other organisations to provide a variety of activities for the bcal o)mmLtntty. This includes •dull education art classes. and use of the premlses for elections. Page 2 HIGHFIELDS CHURCH Rèport of the Trustees FOR THE YEAR ENDED 31 DECEMBER 2024 OBJECTIVES AND ACTIMTIES Volunteers The charity's different activities 8¥e run mainly by volunteers, many ol whom are members ol the church. Ajmost all thè activities run al Highfields would not be possible without the inpth of volunteers on a weekty basis. This indudes people running and helping with the club5 and activities for children of all ages, as well a$ the groups during the week for students, intemationals, church members and being available lor extemal hirers. We also have volunteers who man the reception desk and help in the church office. There ale well over 150 people who week by week help wth these activities, gwing up 2 OT more hour8 of their lime every week. ACHIEVEMENT AND PERFORMANCE Charitable activities During 2024 we have contsnued to make it a priority lo welcome new people and integrate ihem into the life of the church and have continuèd our focus on encouraging people lo join small groups that meet regularly together for study, prayer and fellowship at various locations across the city. We have over 20 small 9roups Ihat meet logether wee￿Y for thi$ purpose, as well as our 20s ministry, where up to 80 people in their 20s meet together weekly in order to study God's word and encourage one another in their faith. Throughout the year we run weekly clubs for children aged 4-18, these are open to the community as well as church familiès, and we conhnue to see regular attendan￿ of ovei 200 children and young paople. In addition, our summer holiday club attracts close to 200 children. During term time we regularly see about 120 students attending the c*urch on a Sunday, wilh about 100 of these regulady attending Bible Study 9roups during the week. There Is a srnaller number of them who meet up with other members of the church in the week, to study the Bible and pray together. This is a real encouragement to the students. as they fa￿ the challenges of university life. The students are also great at getting involved in serving in wider church ministries, such as Children's & Youth Work The Internationals te8m wnlinues lo have links with over 30 Intemationals, many of whom come along to one or more of the weekly activitios. The KV)ularity of our English Conversation Classes for women on Mondays and Tuesdays continues to grow, wtlh at least 30 students in 4 different level groups taking pla￿ (m both days. A créche is sometimes provided to enable the mothers to study. Weekly Intemalionals games evenings IPrirn8rily Tabfe tennis and Badrnintonl is also offered, which is populai with rnembers of the Asian communrty, especially the recently immvJraled Hon9 King Chinese groups. A bible study is also offered for these. The other comlnunity activibes that lake place at Highfields wnlintte lo see sustained inte￿$t. Art classes continue running on Friday mornings and afternoons throughout the terms, wth 15-20 attending each sèssion. As ever, the building is regularty used for Children's PartEs. and we hope to continue to welcome s¢hool$ into our premises for special events such as carol concerts or end of year servi¢es. We also visit schools and lake d85ses al Eastef and Christmas, and at other oc￿s1On5 throughout the year. Many of the families have links with the churth through children atteriding the church OT dubs and activities Ihat take place here. Strateglès for Aims and Obfvctives. We continue lo seek lo further the Aims of the organisation, by continuing the current practi￿ of proclafflation of the Gospel, at large gatherings on a Sunday, and building relationships wth others through the variety of small groups Ih8t operate during the week. Further, it)itial ¢ont8d with those not known to us is sought by enabling access Its cornmunity groups such as 3C's Coffee Morning, 8nd chikl related adivities such as parent and toddler groups. Also opening the building for outside hire, sud) as Art classes, additional needs groups. elecltons. helps get us recognilioft within the community. We aim to continue to do this and will see the effectiveness wrth increased engagement fFom those. both within and without, who previously may not have been present. We are also a Chiistians Against Poverty ICAPI debt centre and employ a manager to oversee this activity 2 days per week. In the longer term. we will assess our staff structure. which will be adapted to the needs of the church and the (>)mmunty we serve. This will be ongoing, seeking the furtherance ol the church. Performance Achievemtnt. We have continued to operate the clubs effectwely in this year, and have tncreased the number accessing them, especially the Tiddlywinks parent and child club, which is con￿"nuallY ovtrrsubscribed. The Art classes for the local community are also very popular, and ywlh programs are also very actwo. Membership has increased, and the financial picture has been incredibly strong this year wilh 8 4 /0 uplift overall in income. This has proved to be fortuitous, despite the current finanaal climate generally Pa9e 3 HIGHFIELDS CHURCH Report of the Trustèes FOR THE YEAR ENDED 31 DECEMBER 2024 FINANCtAL REVIEW Flnancial position GNen Ihe current challengiryJ conditions, al home and throughoLrt ihe worfd, we have been very encouraged that y1￿￿j to Hwhfields hxs increased significanlly lo rneel the maiority of the expenditure throughout the year. The Slalement of Financial Activitie5 shows total incoming resources for the year of £875.180 compared to £825,069 for last year. Total resource3 expended for the year were E861,234. This spend is 8.5% higher than 2023, due to an increase of approxirnalety £37,000 donated to Penarth Church plus increased staffing costs. mainty due lo pay rises to combat the cost ol living. The principal risk5 associated with the coming year would be the inabilty for members lo give effectNely lo cover costs. and the￿ rnÈy be a shortfall, if there are givers who stop giving for some reason, and we are currently using the saved rnOn￿ for Minislry Interns, which will deplete the fltnd without increased gwing. We have also increased the staff base, with new position of Sludenl Worker, lo help deal with the large volume of sludenls Ihal regularty attend. and this is a pem)anènt position. We are hopeful that givin9 will inuease though lo cover this when we make the need known. We have every confidence as this has been the experience of the previous year, and there have been no substantial changes in the membership that would indicate othermse. Reservès policy At 31 Decembec 2024 the chafity's lolal funds amounted lo £7.159,592. of whlth £720,649 is tied up with&n restricted funds. indudin9 the building fvnd. This leaves unrestricted funds of £438,943. As ouuined in the ac£ounts, the trustees have designated £256.183 for speafic purposes. therefore after exduding fixture$ and f5ttings. the charity has free reseNes of£166,257. Although encoufaged by the gi¥ring in 2024. the Iru$l88$ are 8wa¢e of the ch8116nges of the rx)ming year 8g8in. with increased staff costs ¥elated to incoased salaries and penslon COSt5, and thanges in Ihe Nl contiibution levels. The trustees consider the financial position to be satisfactory. FUTURE DEVELOPMENTS Wè have completed the process of ￿VIewIng our vision for the church and this was renewed in June 2023. This has set the strategic dire(#ion for the church for the next fve years, both building on our strengths and maximiwng our opportunities to meet our charitable obieclives. Our ￿rn$ and Objecbves have not changed. bul the way we concentrate on ¢ertain aspects of the new vision will adapl the way the implement our setvKes within the L*urth setting. We will end&avour to gel all group5 Within the church to ernbra￿ the vision and operate 8rcordingly. Page 4 HIGHFIELDS CHURCH Report of the Trustees FOR THE YEAR ENDED 31 DECEMBER 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The fLtII name of the charity is Htghfields Church and is known as Highffelds. We aro a CIO, in¢wAted in June 2018.The Current CLYslilution was ralffied on 2nd July 2017 Method of electson of Eldersnrustses Instruction shall be given to Church Members conceming the biblical qualific8tfjons of an Elder. In 8ddil*M, potential Elders, apart from Ihose referred to in 4.2.2 (Pastors. Associate Pastors. and Assislant Pastors), should Th)rmalty have been members of the thurch for at least 2 years. All Church Mernbers shall be invrted to subrnit, by harKI or post, th￿r nomination of Member{sl of the Church for the office of Elder. hamng been given at least two week5 notification lo do so. The Eklers wll consider 811 nominations received to ensure the nominees are members and &uitable for office. The existing Elders ¥wll then se¢k ￿nf1mlatson from the nominees of Ihelr willingness to Stand before submitting the names of those deemed suilable and willing to s14niJ to the Chur¢h to vote uw)n by postal ￿Iknt. Members will be gwen 3 weeks lo retum ballot papers. To be chosen as an Elder. each nominee mu$1 receive al least ￿lhI¥￿S of the positive voles of Ihe Churth Members voting. Those persons dLtly confimied by the Churd) through voting, will be invSled to 3￿pt the offi￿. Those persons duly chosen a5 Eldeis shall be recognised al an Ordsnath)n Se￿￿e. Eklers shall also be appo¢ntgd gs Managing Truglees. Elders, apart from Staff Elders, shall be eleded lor a Per￿ of 4 years, or as long as they continue as members of the church, or until they resign, or until they are removed from office, whichever is the earlier. An election or reelection of Elders shall be held at least every four years. On expiry of the temi of office. Elders shall be eligible lor re-election, unlil a maximum 012 consecutive terms has beèn served, arKI then a year should pass before their next electffi. The duly ele¢led Elders are the Managing Trustees as laid down in tho Constilution. The Elders are reSPDnsl)le for the spiiitual overs¢ghl of the Churth, ihe Church diwpline, Ihe administration of the Chaitty at¥J its fvnds In accordance wth the conslitlrtion. They shall deterrTrine the structure. purpose, and direction of the church. All Elders must be members of Ihe Church and be in agreement witti the Basis ol Fath. Inductlon and tralnln9 of new trustees Trustees of Highfields are always those who have been members of thÈ church for 8 S￿301fiCanI period ol time, and hence ale generally familiar with its activrties. They have copies of the pievious annual reports and c0nstrtu1￿n. They are made familiar with thÈ responsibilities of trustees when they take up their post. Thè regular input from different ministry leaders lo the Elders. meetsngs provKles the twsl$es wlh the ability to keep up to date wrth the chaiity'5 activities on an ongoing basis. Organlsatlonal ¥tru¢tu As of 31st De￿rnber 2024 Ihefe 8re 11 Elders. these include four staff elders. Lead Pastor. Dave GrA)bett, Associate Pastor Jon Reevès, and Intemationals woiker Rowtand Hughes. David Bhakia Raj Is a worker supported by donations to an outside oTganlsalion from the ¢htJrch, but is nol directly employed by the church. however, for thè Pufposes of the charity running 8nd organisatj'on, 15 considered stsff, and therefore is absent for fLnancial discussions *h31 may be impacted by his attendance. Elders ty￿CallY meet every two weeks to manage the affairs ofthe church. The Eklers may delegate the running of certain administrative and practi￿1 affairs of the Church and minlsln"es. as they see fil, lo Deacons, Associate worker5, and Ministry Leaders. Deacons are responsible, as directed by the Elders, for the adminislratson and practical matters of the church. They maintaln and administer the church in tefms ol ￿lIdIngS. equipfflent, procedure5 and fomial. Ministry Leaders are primarily invofved in word, pastoral and prayer-based ministries as d1￿cted by the Elders. A5soaate Worker5 are those appointed by the Elde¥s lo cary out specifK roles as delerrnined by the Elders. All Deacons. Asstsdate Workers and Ministry Leaders musl be mern￿rs of the thurch and be in agreement with the Basis of Faith. Requests by the Elders for the Deacons to undèrtake speCffj￿ duties vill be recorded in the minutes of Ihe Elders meelings and requests provided to the Dea￿n5. The Dea¢on$ shall record delaiL8 and minutes of any Inee￿ngS ond ¢opy these lo the Elders. Members of staff who hèad up particjjlar areas of ministry are named amngst this 9￿Up. Deaco￿ and Ministy Leaders make day to day decisions about thèir aTeas of ministry. bul will lialse with one or morè Elders about imptsrt8nl matters. Certain areas of responsibilty are delegated to committees. such as Finance and Mis&on. Bolh committees are ¢*aired by 8n Elder and report to the Eldtrrs on a regtjlar basi$ about important decisions. Pa9e S HIGHFIELDS CHURCH Report of the T￿￿tee5 FOR THE YEAR ENDED 31 DECEMBER 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Related pariies The trustees are CLJnsidered the only related parties. Dedaralion fomi$ are provided. Risk management The Church's finances are subject to extemal exatnination. The Irus18tr5 comply with Ch8rily Commission advi￿ and directives in the running of the Church. The trustees 5ab"sffied th81 major risks ale being assessed and systems pul in place for their mi*gation. FinancAally. the Church conllnues lo be well supported by membtrrs and remain5 able to meet all commitments. In general, given the current economic dimate and public concern over Ihe slabS1ty of the b8nking syslem, we want to keep below the maximum insured levels 01 £85k per bank. Wè have a thr&8 monlh Operational Reserve which has been rewewed al the end of 2024, taking into account salary increases and staffing levds and general operating costs and has been kncreased to £130.000. We believe this res¢Ne. combined with regular ￿vIewS of the finan041 systems, wll provide suffKient resources in the event of adverse condrtions. Highfields Churth is committed to protecting any wInera￿e peoplè we comè into contset with. As part oflhis we have a Safeguarding Policy which requires all paid aThJ voluntary workers who have ￿Sponsibl11ty for children or vulnowable adults to apply for an Enhanced Disclosure ol any record held by the Disclosure and Barring Servic¢ IDBSI. In 2024 we have again reviewed our Safeguarding Policy to (ake into account changes in legislation and best practice. We 81s0 comply with the Code of Practi￿ sel out by the voluntary body 31..8. in matters of conf￿entIalJty and sale kÉèt*ng ol rÈo)rds. We CA)mply with the Disabilily Discrimination Ad and make every effort to be inclusive to anyone, whatever theSr disability. Acce8S to our PTernises at ground level is straightfo￿ard and we have a lift to ensure that wheelchair users can get onlo the 1st flcKJr without any difficulty. We have a loop system in the chapel to help those who are hearing impaired lo be able lo be fully involved in the services 8nd meebngs taking place there. We also gwe training and guidelinès lo those involved in speaking, producing presentations or notice sheets or manning the PA or lighting to make them aware of thtsse wth visual or hèaring impaim18nl&. We c8n prgdtlce Braille hymn shee15 on our Braille prinler. The trustees have a duly to identify and review the risks lo which the charity 1$ oxpo$ed and to ensure appropriate controls are in pla￿ to provide reasonable assurartce against Iraud ond em)r. REFERENCE AND ADMINISTRATIVE DETAILS Regtstered Charity number 1179013 Principal address Monlhemier Road CARDIFF County of Cardiff CF23 4QW Page 6 HIGHFIELDS CHURCH Report of th8 Trustees FOR THE YEAR ENDED 31 DECEMBER 2024 Trusteès G Cresswell A Rees Rev D Gobbett (Staff Iiustee) Rev J Reeves {Slaff Irusteel Rev M Teutsth ISt8ff trustee) J Phillips Dr R Hughes (Staff Iruslee) D Evans D Bhakia Rai J Poph3m J N Graham Dr A Willtrams E Gooderham DrCNg John Clayton Chalr Chair of Finance Resigned 31108r2024 Resigned 0910912024 Resigned 0810912024 Appointed 01104r2024 Appointed 0110412024 Appointed 0110112025 Senior Staff Leod Paslor Assoryale Pastor Asstyiate Pastoi Assistant Pastor ￿raInee) Rev D Gobbett Rev J Reeves Rev M Teutsch- Resigned 3110912024 John Clayton- Appointed 0110112025 Indèpendent Examln•r MHA (trading name trf MHA Adv¢sory Limited) Elfed H￿se Oak Tree Court Cardiff Gate Bu$ine5s Pa CARDIFF County of Cardiff CF23 8RS Bankers Lloyds TSB 1 Queen Streèt Cardiff CFIO 2AS Pa90 7 HIGHFIELOS CHURCH Rèport of the Trustees FOR THE YEAR ENDED 31 DECEMBER 2024 REFERENCE AND ADMINISTRATIVE DETAILS Bankers Kingdom Bank Media House Beeston NOTTINGHAM NG9 2RS Monmouthshire Building Society Monmouthshire House John Frost Square NEWPORT NP20 1PX Shawbrook Bank 3rd floor, 8 Bishopsgate, Comhill. LONDON EC2N 3AR Charty Bank Foss¢ Hous 182 High Street TON8RIDGE TN9 1BE Triodos Bank Deanery Road BRISTOL BS15AS Solicltors John Phillips 1 Bishops Pla ilchurch CARDIFF CF14 ILQ Page 8 HIGNFIELDS CHURCH Report of Ih8Trusteos FOR THE YEAR eNDED JI DECÈIABER Z024 STATEMENT OF TRUSTEES. RESPONSIBILITIES The Iwstees are reSpOn￿￿e for preparing the Rewt of Ihe TruBtees 8ThJ tht finOrt￿lISt￿tefflert5 in arxwthnce wilh applicable law and United Klngdorn ACmu￿￿9 StsNlard5 (Ur&ted ￿￿￿0M Generalty A￿ep1*y Ac¢ourt#7g Practice). The law applic4ble to charilie5 in Englaryj and Wé125, the Charthes Act 2011. Chty (Accujrrts and Reports) Regulalions 2008 the provisions of the Iwsi deEd requires the InJste8s lo prepare financial stalements for each nanaal year g￿e a true and fair iiew of Stole of affair8 of ihe char*y and of the inciThir4 resource9 aryl 8pplirAtton of resources, induding the tiicome and expendilvre, of the chanty for Ihai ￿riOd. In p￿p￿ring IhD¥e fjnawa $￿ther￿S, Ihe trustees are required to Se￿ aGcounlry poticles and then apply Ihem cwsiglenlty., obselve the methods and prinrlples in Charity SORP.. makejudgemen15 and eslimaies Ihal are reasonable aTrY prudent,. prepare Ihe financi?15talemenl$ on the golng co￿e￿ ba848 unle68 il IG Inapprvpriate ID WBSLrne that the chanty ¥4 nlinue in ￿SinesS. The lrystees are wonsble fly ko6pirKJ pr￿Or4CcOur￿ng ￿COrdS disdo$2 with Tedsonable ar￿lacY 81 any twre Ihe financi81 posib¢n of the tharty 10 enabk to ihai the f￿an¢￿ statèments cornpiy %%ith the ChanDe5 Act 2011. ihe Chapity (Accounls and Reports) Regulation5 2Q08 lh8 prows*Jn$ of the deed. They are 915Q respDnsttrAp for salegtsarding the assets of the ch8rfty and hert￿ f¢K taking reason8bk sieps fw the prvvenlion detection of fraud and oiher it[eg￿3￿1￿￿. Approved by orderof the board ofh7JSteets on 11 May 2025 and ils behawby.. G, G Cres$%¥eil- Trustee Page 9 Independent EXAMI￿￿# R•porttts thp TTh$tets ol Highfields Chuvch Ind•pendaniexaminets reporttoth6tNstee5 of Highr￿Id5 Church I report to the thariry InJ51ees ¢x7 ry examination of the accounts of Flghfth Ilh¢ Trtl￿) ftr Ihe year erded 31 Dec£[n￿r2o24. Re#ponslbililips und basi¥ of 14port As the cla￿ty tTusleÈ$ af Ihe Trusi you are responsi￿e far the prepar8h.on ol the accounts in acc¢rTlance Y4th the reqwremenls ofthe Charilies Act 2011 Ad). I report in resped of tny ex8minalion of fmsl'5 att￿nIS carried out under Sedlun 145 01 ihe Act and in cairying out my examination I have fts10￿*d all appkcabk ￿reCti(￿S giyen by Ihe Chgrity Commis&on under Sethon 14515llbl of the Independonl Examin2I5 s¢atem#nt Since your chanty'$ 9IDSS income exceeded £250.000 yow exafThner rn4st be a memb3r of a li51ed body. I Ixn confiFm that l am qualified lo undertake examinabon because l arn a member of the AssDLiation of ch￿l￿e6 Cerfir￿d Ac¢ounl8nts, 13 one ofthe listed bod*s. I have compleled my examnatkin. I confirm Ihat no material m3tters have come to my allentiL￿ COMec￿0n vAth tre exarrinèbon giving cause to believe that kn any m8lerial respect.. accounlhg ￿¢0￿5 were not *ept ￿ respeu Ollhe Tru$1 as required by Secbm 130 oftheAtL or the 4¢￿￿13 do not accorct wilh those records.. or the attounls do not cornptyY4ith the epyicable requirements conr*rning the form and untent of accounts se¢ o In the Charits"es IA¢counlS and Repiwtsl Regulations 2008 OlhEr than any iequir¢menl ihal ihe accounts 8 true and fair viewthch 1$ nota mAtterr￿n￿￿4ered e5 Part of an indeper)dentexaminalion. I have no conctFn$ and h8¥e come acros8 no otherrn8tteT5 In Cnn￿(110n vmih the ￿M￿allen 10 whith allenlion thoL4d bB drawn In thbti report in orderlo enable a wJper un¢er¥lJrding of the 8ccowl¥to be reathed. Rath￿ DD￿e ACA Dcha PIHA Vradin9 118me ofMHAAdvisory knrnitedl CARDIFF CF23 8RS Page 10 HIGHFIELDS CHURCH Statement of Financlal A¢iivities FOR THE YEAR ENDED 31 DECEMBER 2024 2024 Total fun¢J$ 2023 Total funds Unrestrided funds Restii {9,2751 13381 9,891 34,052 {6.7251 129.B32} 2.476 Nèt cash provided by operations 43,407 ANALYSIS OF CHANGES IN NET FUNDS At 111124 Cash flow At 31112124 Net cash Cash at bank 44,1SS 427,574 383,419 44,155 427.574 Total 383,419 44,155 427.574 The notes fomi part of these financial 51alements Page 14 HIGHFIELDS CHURCH Notes to the Financlal Statements FOR THE YEAR ENDED 31 DECEMBER 2024 STATUTORY INFORMATION Highfiolds Church 1$ a registered char¢ty. re9i$lered in England and Wales und¢¥ tharity number 1179013. The goveming document of Htghfields Church is Ils ConstitLrtion and a Charitable Incorporated Organisation {CIO}. The principal address is Monlhermer Road, Caidiff. CF24 4QW. The nalure of the charity's operations and principal activities is di5dosed ¥￿thIn the Report of the TFu$lees. The financial statements are wesented In Sterfing <£1. the charivs fLthCtional curiency, and rn￿ded to the earesl pound. The significant 8ccounb.ng polioes applied in the preparation of these financi81 slatemanls are sel out below. These policies have been consislenuy applied to all years presenlod unless otherwise stated. ACCOUNTING POLICIES BASIS OF PREPARING THE FINANCIAL STATEMENTS The finanaal staternents ol the charity. which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 102) 'Aceounling and Report¢ng by Chariues.. Slalement of Recommended Piactice applicable lo charttlès preparing iheir accounts in accordance with the Financi81 Reporting Standard applicable in the iIK and Republic of Ireland {FRS 1021 (effective 1 January 20191., Financial Reporting Standard 102 'The Financial Reporting Standard aP￿1¢3b[e in the UK and Republic of IielaTrJ' and the Charities Act 2011. The financial statements have beén prepared under the hFStoritxI o)$1 ttjnvention. The financial ststemenls have been prepared lo give a 'lrue and fairf view and have departed from the Charities (Accounls and Reports) Regulations 2008 only to extent to provide a 'true and fairf view. This departure has involved following the Accounting and Reporting by Charitie5.' Staternenl of Recommended Pradie£ applieable lo charitie5 preparing their accoLtnts in accordan¢o with the Financial Reporting Standard applicab16 In Ihe UK and Republic of Ireland Issued in Odober 2019 ralhef than Ihe Account*ng and Reporting by charIt￿s." Statement of Recommended Pracb"ce effectwe from 1 April 20L15 whth has sinte been wilhdrawn. There have been no maleiial departures from Finanoal Reporting Stsndard 102. GOING CONCERN No material uncertainties exlsl relating lo events or ujndktions that may cast significant doubt usym the entitl$ abilty lo conts"nu¢ as a going concern. INCOME All income is recognised in the Staternenl of Financi31 Activrties once ihe charity has entiifemenl to the funds. It is probable that the income will be received and Ihe amount can be measured reliably. This includes capital grants. Donatic￿$ and ￿a￿e¥ income include$ donations. gTIts and grants that provlde cots funding or are of a general nature are recognised where there is entttlemenl, probabilrty of re￿Ipt and the amount can be measured with $utfiaent ¢eTh'ability. Such income is onty defer￿ when Ihg donor specifies it must be used in luture accounting periods or the donor has imposed cond*tions whth must be met before the charity has unconditional entillement. Inccme fToTn charitable activities Thidudes inry)me reeefved urKler contrad or enlillement to grant lunding IB subiect to Specific performance conditions. This incomtr is recognised where there is entill8menl, when the receipt is piobable and the amount can be measured reliably. Income is deferred when Ihe amounts re￿iVed are in advar￿e of the performance of the Service or event lo which they relate. Income from other trading actwiJes Is recognised as the related services are provided aThJ therg is entiuement. probabilily of r¢oipl and the amounl can be measured with suffiaent reliaEN"lty- Income is defeThed when the amounts received are in advance of the delivery of the seNice or event lo which it relates. Itweslment income is recognisgd on a rer£NatAe$ basis. It is not the policy of Ihe chaiity to show income nel of expeThJilure. Page 15 continued... HIGHFIELDS CHURCH Notes to Financlal Statements- contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES- contlnu•d EXPENDITURE Liatililies are ￿Cognised as expenditttre as soon as there is a Jegal or constructive obllgation commttting the charity to that expenditure. it is probable that a transfer of economic benefits wll be rèquirèd tn settiemenl and the aM0(￿t of the obligation can be measured rellabfy. Expenditure is accounted for on an 8(ttu8ls basis and has been classified under headings that a99regate all cost related to Ihe category. Whare costs cannot be directly attributed to particular headings they have been allocated to aclivilies on a basss consistsnl with the use of resources. Charitable expenditure comprises those costs incurred by the charity in the delivery of tts actNities and seNices for ils benefiaaries. It indudes both costs that can be allocated direclly to such activities and those costs ol an indirect nature to SLtpport them. Support costs are those costs that, whilst necessary to deliver an activity, do not themselves produce or constitute the oulput of the charilabk acliv¢ly. Thss includes 'Govemance costs. which are those costs associaled with meeting the constitutional and slatutory requiremeftts ol the charity and include the accountancy fees and costs linked to the strategic management of the charity as well as a proportion of salarles based on an approximation of time spent in ihis area. Expenditure indudes VAT as the charity is not VAT reglslered. ALLOCATION AND APPORTIONMENT OF COSTS All costs are allocated between the expenditure categories on a basis designed to reflecl the use of the resource. Costs relating to a particular activity are allocated direcuy., olhers are apportioned on an appropriate basis. TANGIBLE FIXED ASSETS Fixed assets are initially re¢oTded at ¢o$l. Fixed assots ¢o$tlng ov¢r £500 are cgpilali$¢d. DepreOat￿ft is ealrJJl8led $0 a$ lo write off the cost of an asset. ￿sS ￿S estimated reskJual value. over the useful ecoTh)mt¢ life of that a$s¢t as follows.. FiXtU￿S and ffttings Freehold land Freehold property 4 to 8 years straight line nol depreciated So years slraighl line TAXATION As a registered chaiity the organisation is exempt Irom income and corporation lax to the extent that ils income and gains are applicable io charitable purposes only. Value Added Tax is not fec4)verable by the organisalion and is therefore included in the retevanl costs in the Staternenl of Financial Activities. FUND ACCOUNTING Unrestricted funds can be used in attordance with the charitsble Obl￿tIveS al the disuetion of the trustees. DesvJnaled funds are created for speLific purposes at the di5¢retion ol the Iwslees. Restricted funds can only be used for particular restricted purposes within Ihe objects of the thanty. Restrictions arise when speafied by the donor or when funds are raised for parbcular restricted pU￿0$eS. Further eX￿anatIon of the nature and purpose of each fund is included in the notes to the finanual statements. Operatlng leases Rentals appltC8ble to operating leases where substanl'ally all the benefrts and risks of ownership remain with the lessor are ¢h8r9ed lo the slatèmenl of f5nancial activits'es on a slrasght line basis over the period of the lease. Penslon co$ts and other post-rèttrèment beneflts Th¢ ¢h8rily operate5 a definert contribution pen$ion scheme. Contributions payable to the d)aritys pension are tharged lo the Statement of Finanryal Aclivale5 in the period to whtch they relate. Page 16 continued... HIGHFIELOS CHURCH Notos to the Flnonclal Statèments - continued FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES- contrnued Capltal grants C8Pltal gr8nls are accounted for in aceordanc£ ￿th FRS 102 SORP. The board oftruste&s considwttwt in order to comply with the SORP, grants of a capital nature given for specific purposes and fully Ull￿Sed in the furtherance of the charitls objectwes should be credited to Ihe building fund 8fter the sums have been property expended on the restricted pUr￿Se. The related assats are shown in the baLgncg sheet at eost or valu8ti0n. Flnancial Instruments The charity only has financial assets and ￿nancial liabilities ol a kind that qualify as basic financia1 wistruments. Basic financial instruments ar8 initially recognised at transaction value and subsequenity m88sured at Iheir settl¢rnenl valuo. Debtors wilh no slated interest rale and receivable within one year are r8cofded at transaction p[￿. Any losses arising from impaimienl are recogrnised in expenditu￿. Prepayments are valued at Ihe ?￿Ount prepad rEt of trade discounts due. Creditors and provislons are ￿CognISed where thè charity has a present obligation restsKing from a past event that will probabty fesult in the transfer tsf funds to a third paity and the amount due lo setde the obligation can be measured or estimated ￿liablY. Creditors and provislons are nomi8lly recognised at their settlement Jnount after all¢)wing for any trade discounts due. DONATIONS AND LEGACIES 2024 2023 Donationsloffeflng$ 794.442 764.197 OTHER TRADING ACTMTIES 2024 2023 Use of premise$ 12.310 4,984 INVESTMENT INCOME 2024 2023 88nk interest recesvable 9.275 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Ytyjth and childien's wwk Pre-sthool Books1811 Intemalionals Network courses Sludents Chllstians Again3t Poverty Connectton Conversalion classes 9.582 1,762 458 5.337 7,280 8.921 15,930 1,105 820 8,624 1,327 445 3,786 3,655 8,402 14,650 981 1.377 51,175 43,247 ASI income is from the single chwitabltr activity of The ProrTK)tion of Chrf$tianty'. Page 17 ¢ontinued... HIGHFIELOS CHURCH Notès to the Financlal Statèmènts - continued FOR THE YEAR ENDED 31 DECEMBER 2024 CHARITABLE ACTfviTIES COSTS Direct Costs (see note 81 Support costs (see note 91 Totals The promotion of Christianity 741.709 120,065 861,774 DIRECT COSTS OF CHARITABLE ACTIVITIES 2024 2023 Stsff costs Staff trainlng and expenses Administration w5ts Premises expenses Bookstall expenses Other Miscallaneous costs Pulpit Pasloral Evangelism Yo(rth and children's work InleryFationals Siudents Pre-school Network Dalton Street project costs lexduding staff o)stsl Gran15 payable- Missionary Support Convetsalional classes Christians Against Poverty Donations- Specific appeals Connectton Depreuation 324,611 17,137 45,705 50.969 432 48,527 2,342 3,718 4,601 15,101 5.480 9,974 476 2,435 7,765 134,294 S69 10,079 28,902 2,189 30.403 311.886 13.142 39,755 56.231 331 11,263 3.792 3,237 4,275 12.077 5,317 10,823 887 1,668 128.493 1,281 9.215 23.834 1.590 33,371 741.709 678,512 Induded within direct costs of charitable Bclivities above are grants payable of £134.294 12023.. £128.4931 to Missionaries. This includes grants of £28.480 paid to 2 individuals and grants of paid £105.667 to 15 Mission Organisation (prior year.. £28,04CI was paid lo 2 Individuals and £102,342 to 12 Mission Organisalionsl. SUPPORT COSTS Staff Other costs Governance c¢)sls Totals The promotion of Chris113nily 86,427 30.458 3,180 Included within supwjrt ¢0515 are independent examination fees of £3.180 {2023- £2,7(fvJI 10. TRUSTEES. REMUNERATION AND BENEFITS The following iemunérdtion was paid lo trustees during the yeai.. 2024 2023 Trustee Rol• D Gobbett Lead Pastor S818ry Pension Salary Pènsion Salary Pension Salary Pension 46,589 1,471 38,689 1,222 27,631 873 31,309 989 44.370 1.401 36,123 1.141 39,473 1,247 29.818 942 J Reeves Asso¢i*e Pastor M Teutsch Associate Pastor R Hughes Internationals worker Page 18 continued... HIGHFIELDS CHURCH Note5 to the Frnanclal Statements- continued FOR THE YEAR ENDED 31 DECEMBER 2024 10. TRUSTEES, REMUNERATION AND BENEFITS- continued Payment Is pemiitted by ￿rtue of paragraph 6.3 oflhe constilution adopted 2 Juty 2017. TRUSTEES. EXPENSES There were no Iruslees, wenses paid for the year ended 31 December 2024 or fcf the year ended 31 December 2023. 11. STAFF COSTS 2024 2023 Wagès and salari&$ Social security costs Other p8nsion costs 384,591 26,906 35S,5CKI 25,142 9,625 422,032 390,297 Total remuneration paid lo trustees and key managemenl petsonnel in the year was £194,72a{2￿23.' £200.667). The averagè monthly nsjmber of employees d4Jrin9 the year was as fotlows.. Employees 2024 14 2023 14 o employee8 received emolume¢ts In excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Un￿SIr￿ted funds 12. Reslricied funds Total funds INCOME AND ENDOWMENTS FROM Donallons and legaaes 597.002 167,195 784.197 Charitablg a¢tivitles The promotion of Chrfstiarwty 43.247 43,247 Other trading activities Investment income Other income 4,984 6.725 6.725 5,916 Total 657.874 167,195 825,￿9 EXPENDITURE ON Charitable aelivities The promolbn of Christianity 643.973 149,705 793,678 NET INCOME 13.901 17.490 31,391 RECONCILIATION OF FUNDS Totsl lunds brought fO￿ard 1,051.214 63,S81 1.114.795 TOTAL FUNDS CARRIED FORWARD 1,065.115 1,146 186 Pa9e 19 continued... HIGHFIELDS CHURCH Notes to the Flnanctal Stat*ments - ¢ontinued FOR THE YEAR ENDED 31 DECEMBER 2024 13. TANGIBLE FIXED ASSETS FWure$ and fittings Freehold property Freehold land Totals COST Al 1 J8nuary 2024 Additions Disposals 1.031.227 80.0(KJ 83,505 9,827 24,2591 1,194.732 9.827 24.2591 At 31 December 2024 1.031,227 80,0 69.073 1.180,300 DEPRECIATION Al 1 January 2Cg24 Charge for year Eliminated on disposal 413.286 20.625 66,431 10,398 479,717 31,023 Al 31 De¢ember 2024 433911 52.570 486,481 NET BOOK VALUE Al 31 De￿rnber 2024 597,316 80,(M)Ct 16.503 693,819 At 31 Decernber 2023 617941 80.CXXJ 17.074 71S.015 All assets are held for direct charttable purposes and there are no inafEenable or histor?¢ assets. 14. OEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Gtft aid debtor Prepayments and accnjed incxjme 30,4￿2 21,682 30,518 21,228 52,084 51,746 15. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Accruals and deferred income 13.885 3.994 16. LEASING AGREEMENTS Minirnlwn lease payments under non Restrfcted funds Missionary fund Dai Hankey fund Sludenl Friends of Highfields fvnd Sharing our INe$ fuTrJ Good Causes UCCF Fund Christians Against Povety Panarth Fund 715,616 (664,4721 51.144 74,567 22.159 1,335 4,910 4,533 3,625 16,638 31,797 {88.(62} 131.6401 11.2001 17.761) 12,542} 13,0001 116,5141 48 5831 111.495) 19.481) 135 P,851) 1,991 625 124 16.786 159.564 37,738 TOTAL FUNDS 875,180 861.7741 13.4 Page 21 ¢ontinued... HIGHFIELDS CHURCH Not•s to Flnancial Statements - contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 17. MOVEMENT IN FUNDS- ¢ontinued Compardt5ves for movement in funds Net movement in funds Transf8rs betweèn funds Al 31112123 At 111123 Unrestrtcted fvnds General fund Designated fund- Building furKI Designated fund- Operations reserve Destgnaled fund- Contingency fund Designated fund- Training Ilmmanuer) Designated fund- Mffissionary fund Designated fund- Dai Hankey fund Designated fund- Ministry Apprenti¢OS Designated fund- Maintenance fund Designated fund- Student friends of Highfields Designated fund- LICCF 51,671 718,566 115,000 24,923 12,155 73,241 146,978 120,6251 (101.879) 96,770 697,941 115.DJO 29.923 16.5e 17.4CLI 5,000 4,0 29,004 405 (24,8451 11.0001 {52.8921 (29,1201 71,511 44,147 17,OLK) 39,C(M) 35.619 54,027 1,875 1.875 5,(X)O} 1,051.214 13,901 1,OS5,115 Restrleted funds Missionary fund Dai Hankey frjnd Stvdenl Friends of Highfields fund Sharing our lives fund Good Causes UCCF Fund Christians Again51 Poverty Penarth Fund 9.743 11,284 3,036 34.876 3,310 1.814 280 329 {2.5881 644 281 156} 16,786 11.557 11,564 32,288 3.954 1,250 307 16,786 63,581 17,4 81.071 TOTAL FUNDS 1,114.795 31.391 1,146.186 Pag¢ 22 contintsed... HIGHFIELDS CHURCH Notes to the Flnancial Statements- continued FOR THE YEAR ENDED 31 DECEMBER 2Q24 17. MOVEMENT IN FUNDS- contSnuod Comparatmie nel movemgnl in funds. Indvded in the above a￿ as follo￿.. Incoming ¥esources Ro8ouTces expended Movement in funds Unrestricted funds General fund Designaled fund- Building fund Designated fund- Training Ilmmanuel) Designated fund - Missionary fund Desi9naled fund- Dai Hankey fund Designated fund- Ministry Apprentices Designated fund - MaIntenan￿ fund Designated fund- UCCF 641,604 1494,6261 {20.6251 If0,8451 124,8451 If,0001 (57.8921 129.140) 5.(KJO 146.978 120.625) 405 P4,8451 11,000) 152.8921 129, 1201 11,250 5,000 20 Restrl¢tsd funds Missionary lund Dai Hankey fund Slltdent Friends of Hi9hfield5 fijnd Sh&ring our lives lund Good Causes UCCF Fur Christians Against Povetty Penarth Fund 657,874 (643,973) 13,901 80.211 24.480 329 8,278 13.616 3,281 14,650 178,397) {24,2001 1,814 280 329 12,5881 (10,8661 112.972} 13.0001 {14,7(61 281 (56) 16,786 167.195 17.490 TOTAL FUNDS 793 8781 31.391 Dosignated funds Designated fvnds are set up by resolution of the Finance Committee and ar8 approved by the Ekjers of the church. Building fund- this is Ihe amount designatfyd lo maich the nel book value of the land and buildiny$. Operaticw)s re5erve- thls ftmd is intended lo meet 3 month8 of the totsl operaling ¢osls of the thur¢h. including staff salaries. Contongency hJnd- this fund ha5 been set up to deal wth any unforeseen emergency costs that may arise. Training Ilmmanuell- grfts received in previous years set aslde lo be used for IrainiNJ. Missionary fvnd - has bean 8el up lo deal income which has been designated by the church lor mk45ionary work. Ministry Apprentices- Ihis fund has been created to set asido funds to support mit)isty apprenll¢e Costs. Maintenance fund- this fund has been ueated to set aside fijnds for maintenance work to be eAiried ¢￿L Dai Hankey fund- thls fund has been created to providè addthonal fund$10 5UPPOrt Dai Hankey in hi8 wuk. UCCF fund- The fund was created to ￿nd the chridian unions. Student friends of Highfields fvnd - The fitnd was (xealed to allow students who have attended Highfields, but since left Caidlff, lo give to a fiFnd cre8led to support the student mini51ry at HighfieKIs. Page 23 conknued... HIGHFIELDS CHURCH Notes to thè Flnanclal Statem•nts- eontlnutd FOR THE YEAR ENDED 31 DECEMBER 2024 17. MOVEMENT IN FUNDS- continued Restricted funds The rnissionary lund Telale5 to offerings given under the gift aid scheme, designated for this paiticular lund. These offerings are paid over lo the Missionary Committee in the month following their alk)cation, to be used as the committee sees rrt. Dai H8rskey fvnd- D81 is a missionary, who has moved lo Treveth*n to sel up a chufch pknl. Redeemer Churth and an anti-slavery charity, Red Community. This fLtnd has been set up to help finance Dai in his work. student Friend5 lo Highbeld5 fund - the fund was created lo allow students who have attended Hwhfields. but since left Cardiff. lo give lo 8 fund created to support the sludenl ministry al Hrghfields. Sharing our lives- This fijnd has been designed to help1hose currently experiencing finarK¢al hardship. Good Causes - The fund was crealed for donations for charitable issues such as earihquake appeals Ukraine. UCCF Furxl- The fund vra$ created lo fund ihe christian union5. Chrislkins Against Povety- The fund was created lo help hwth poverty. P¢narth fund- Opening a new church in Penarttrt, th(3 fvnd is lo have ¥ep8rale in¢ome 8nd expertdilurÈ TRANSFERS BETWEEN FUNDS Transfers totalling £70.000 have been made from the general fund to a number of designated funds in the y*3r as outlined below.. A transfer of £18.(KJO to Ihe designated Ministry Apprentices fund to be used towards the costs associated with ministry apprentices. A transfer of £22,000 has been made to the designated maintenance fund in respect of wc