TRUE JESUS CHURCH (ESSEX) FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 SEPTEMBER 2024
Charity Number: 1179110
TRUE JESUS CHURCH (ESSEX)
YEAR ENDED 30 SEPTEMBER 2024
| CONTENTS | |
|---|---|
| ANNUAL REPORT OF THE MEMBERS OF THE CHURCH COMMITTEE | 2 - 4 |
| ADMINISTRATIVE INFORMATION | 5 |
| STATEMENT OF RESPONSIBILITIES OF THE CHURCH COMMITTEE | 6 |
| INDEPENDENT EXAMINERS REPORT | 7 |
| STATEMENT OF FINANCIAL ACTIVITIES | 8 |
| STATEMENT OF FINANCIAL POSTION | 9 |
| NOTES TO THE FINANCIAL STATEMENTS | 10 - 14 |
1
TRUE JESUS CHURCH (ESSEX)
YEAR ENDED 30 SEPTEMBER 2024
ANNUAL REPORT OF THE MEMBERS OF THE CHURCH COMMITTEE
The Church Committee, who are Trustees for the purposes of Charity Law, have pleasure in presenting their report and financial statements of the Church for the year ended 30 September 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the church’s constitution, the Charities Act 2011 and Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Purpose
The objective of the Church is to advance the Gospel of Jesus Christ for the benefit of the public, in accordance with the following doctrines:
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One True God
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One True Church
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Water Baptism
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Receiving the Holy Spirit
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Foot Washing
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Holy Communion and
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Observance of Sabbath.
ACHIEVEMENTS AND PERFORMANCE
On the 22 Nov 2024, the Church completed on its purchase of a building on Broomfield Road in Chelmsford. Services commenced at the newly purchased building on the 4 Jan 2025. A permanent timetable has been implemented allowing for regular worship on the Sabbath day including: Sabbath service, a bible study, Religious Education classes for students and various fellowship sessions. The trustees and Church Directive Board continue to meet on a regular basis on line and in-person to plan the advancement of the Gospel in Essex.
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TRUE JESUS CHURCH (ESSEX)
YEAR ENDED 30 SEPTEMBER 2024
FINANCIAL REVIEW
The church’s principal source of income is from offerings received from its members. Total income from unrestricted funds were £91,907 (2023: £56,230) and total resources expended were £7,577 (2023: £9,893). The net incoming resources on the general unrestricted funds were £84,330 (2023: £46,337).
Total income from restricted funds was £296,275 (2023: £15,050) and the total resources expended from restricted funds were £2,000 (2023: £nil).
At the balance sheet date, the unrestricted reserves were £293,793 (2023: £209,096) and there were restricted reserves of £561,425 (2023: £267,150).
Reserves policy
The free reserves are the total unrestricted funds less the designated property funds. The free reserves are £293,793 (2023: £209,463). The Church Committee considers this level of reserves to be satisfactory given the minimal expenses of the Church and the focus on purchasing a permanent building for members of the True Jesus Church to worship.
Risk management
The Church Committee have assessed the major risks to which the Church is exposed, in particular those related to the operations and finances of the trustees, and are satisfied that systems are in place to mitigate our exposure to the major risks. To minimise risk, all major financial decisions are discussed and approved by the congregation in the annual or extraordinary general meetings. Child protection policies are also in place with appointed designated safeguarding leads following completion of relevant external training courses.
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TRUE JESUS CHURCH (ESSEX)
YEAR ENDED 30 SEPTEMBER 2024
PLANS FOR FUTURE PERIODS
The Church is to undertake further evangelism and spiritual convocations to promote the gospel, actively seek lost sheep and to encourage members to grow in the stature of Christ in line with our stated objectives.
On the 22 Nov 2024, the Church completed on its purchase of a building on Broomfield Road in Chelmsford. Services commenced at the newly purchased building on the 4 Jan 2025.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The True Jesus Church (Essex) is registered as a charity with the Charity Commission with the charity number 1179110. The charity is governed by the declaration of trust deed made on 28th April 2018. The Church is affiliated to the General Assembly of True Jesus Church (UK), (UKGA).
Management and Appointment of the Church Board and Church Committee
The management of the Church is the responsibility of the Church Committee who are currently appointed under the terms of the constitution. The method to appointing Trustees is set out in the TJC UK General Assembly By-Law. All members of the congregation, subjected to condition in the Bylaw, could stand for election to become a Trustee and Church Committee Board member.
Organisational Structure
The members are any persons baptised in the True Jesus Church and they are eligible to speak, vote, elect and be elected at the General Meeting of Members. The General Meeting of Members is the highest decision-making meeting. Any decisions made are to be dealt with by the Church Board, and then executed by the Church Executive Committee consisting of the Religious, General and Financial Affairs Officers.
Many volunteers give up their time to help out at the church, particularly at weekends and in the evenings. The Board is greatly indebted to these volunteers for their commitment and support.
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TRUE JESUS CHURCH (ESSEX)
YEAR ENDED 30 SEPTEMBER 2024
ADMINISTRATIVE INFORMATION
| Charity Name | True Jesus Church (Essex) |
|---|---|
| Governing document | Trust deed dated 28thApril 2018 |
| Trustees | Benjamin Choo |
| Desmond Shek (resigned 28 Apr 2025) | |
| James Lai | |
| Thomas Ho | |
| You You Lu | |
| Registered address | 151 Broomfield Road |
| Chelmsford | |
| CM1 1RY |
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TRUE JESUS CHURCH (ESSEX)
YEAR ENDED 30 SEPTEMBER 2024
STATEMENT OF RESPONSIBILITIES OF THE CHURCH COMMITTEE
The Church Committee are responsible for preparing the Church Committee’s Report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the church committee to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the applicable Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Church Committee are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. They are also responsible for safeguarding the assets of the church and taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Church Committee are responsible for the maintenance and integrity of the church and financial information included on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.
Approved by the Church Committee on 29th July 2025 and signed on their behalf by:
James Lai Trustee
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TRUE JESUS CHURCH (ESSEX)
YEAR ENDED 30 SEPTEMBER 2024
INDEPENDENT EXAMINER’S REPORT TO THE CHURCH COMMITTEE
I report on the financial statements of the church for the year ended 30 September 2024 set out on pages 8 to 14.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Charities Act, and
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to state whether particular matters have come to my attention
Basis of independent examiner’s report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act.
have not been met or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Debbie Ho 41 Hill Court, Victoria Road, Chelmsford, CM1 1SP 29/07/2025
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TRUE JESUS CHURCH (ESSEX)
STATEMENT OF FINANCIAL ACTIVITIES (incorporating the Income and Expenditure Account)
YEAR ENDED 30 SEPTEMBER 2024
| Note | Unrestricted funds |
Restricted funds |
Year ended 30 Sept 24 |
Year ended 30 Sept 23 |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM: | ||||
| Donations and legacies | ||||
| Offerings received 2 |
91,907 | 296,275 | 388,182 | 71,280 |
| Total income | 91,907 | 296,275 | 388,182 | 71,280 |
| EXPENDITURE ON: | ||||
| Charitable activities | ||||
| Other charitable expenditure 3 |
7,577 | 2,000 | 9,637 | 9,893 |
| Total expenditure | 7,577 | 2,000 | 9,637 | 9,893 |
| Net income for the Period | 84,330 | 294,275 | 378,605 | 61,387 |
| Transfers between funds | - | - | - | - |
| Total Funds brought forward | 209,463 | 267,150 | 476,613 | 415,226 |
| Net movement in funds for the Period | 84,330 | 294,275 | 378,605 | 61,387 |
| Total funds carry forward | 293,793 | 561,425 | 855,218 | 476,613 |
The Statement of Financial Activities includes all gains and losses in the period. All incoming resources and resources expended derive from continuing activities.
The notes on pages 10 to 14 form part of these financial statements
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TRUE JESUS CHURCH (ESSEX)
STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2024
| Note | 30-Sep-24 | 30-Sep-24 | 30-Sep-23 | |||||
|---|---|---|---|---|---|---|---|---|
| £ | £ | £ | ||||||
| CURRENT ASSETS | ||||||||
| Debtors | 5 | - | 203,000 | |||||
| Cash at bank and in hand | 885,218 | 303,613 | ||||||
| CURRENT ASSETS | 885,218 | 506,613 | ||||||
| CURRENT CREDITORS - Amounts due less | ||||||||
| than one year | - | - | ||||||
| NET CURRENT ASSETS | ||||||||
| 885,218 | 506,613 | |||||||
| NON CURRENT CREDITORS - Amounts due greater than one year |
6 | (30,000) | (30,000) | |||||
| NET ASSETS | 855,218 | 476,613 | ||||||
| Funds | ||||||||
| Unrestricted | 293,793 561,425 |
|||||||
| General | 7 | 209,463 | ||||||
| Restricted | ||||||||
| Building fund | 8 | 267,150 | ||||||
| TOTAL FUNDS | 855,218 | 476,613 | ||||||
These financial statements were approved by the trustees on 29th July 2025 and are signed on their behalf by:
James Lai Trustee
The notes on pages 10 to 14 form part of these financial statements.
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TRUE JESUS CHURCH (ESSEX)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 SEPTEMBER 2024
1. ACCOUNTING POLICIES
Basis of accounting
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
The Church constitutes a public benefit entity as defined by FRS 102.
The trustees have assessed the ability of the Church to continue as a going concern and are satisfied that the normal pattern of incoming resources will allow the Church to continue to meet its liabilities as they fall due.
Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Offsetting
There has been no offsetting of assets and liabilities, or income and expenses unless permitted by the FRS 102 SORP or FRS 102.
Expenditure
All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure. Costs have been directly attributed to one of the functional categories of expenses in the Statement of Financial Activities in full. The charity is not registered for VAT and accordingly costs are shown gross of irrecoverable VAT.
Expenditure is classified under charitable activities, which includes the costs incurred by the charity in delivery of its activities and services to its beneficiaries and their associated support costs.
Support costs
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include governance costs which support the Church’s programmes and activities. These costs have been allocated as expenditure on charitable activities.
Volunteer time
In accordance with the Charities SORP (FRS 102), the general volunteer time of the members are not recognised.
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TRUE JESUS CHURCH (ESSEX)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 SEPTEMBER 2024
1. ACCOUNTING POLICIES (Continued)
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discounts offered. Prepayments are valued at the amount prepaid net of any trade discounts given.
Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Financial Instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
Unrestricted funds
Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds.
Designated funds
Designated funds are funds designated by the Trustees for a specific purpose.
Restricted funds
Restricted funds are to be used for specific purposes as laid down by the donor.
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TRUE JESUS CHURCH (ESSEX)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 SEPTEMBER 2024
2. OFFERINGS RECEIVED
| Unrestricted funds £ 91,907 - |
Unrestricted funds £ 91,907 - |
Restricted funds £ - 296,275 |
Restricted funds £ - 296,275 |
Year ended 30 Sept 24 £ 91,907 296,275 |
Year ended 30 Sept 23 |
|
|---|---|---|---|---|---|---|
| £ | ||||||
| General Offerings | 56,230 | |||||
| Building fund | 15,050 | |||||
| Total offerings received | 91,907 | 296,275 | 388,182 | 71,280 | ||
The Church benefits greatly from the involvement and enthusiastic support of its members. In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in the accounts.
3. OTHER CHARITABLE EXPENDITURE
| Unrestricted funds |
Unrestricted funds |
Restricted funds Year ended 30 Sept 24 Year ended 30 Sept 23 |
|
|---|---|---|---|
| £ | £ £ £ |
||
| Room hire | 6,780 | - 6,780 7,853 |
|
| Bible, hymns & publications | 266 | - 266 37 |
|
| Preachers pastoring & visiting expenses | 232 | - 232 344 |
|
| Training | - | - - 1,020 |
|
| RE | 278 | - 278 182 |
|
| Insurance | 21 | - 21 96 |
|
| Food | - | - - 361 |
|
| Professional fees | - | 2,000 - - |
|
| Total other charitable expenditure | 7,577 | 2,000 9,577 9,893 |
|
Total Expenditure was £9,577 (2023: £9,893) of which £2,000 (2023: £nil) was restricted.
The trustees consider there to be only one charitable activity.
4. TANGIBLE FIXED ASSETS
The Church has no tangible fixed assets.
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TRUE JESUS CHURCH (ESSEX)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 SEPTEMBER 2024
5. DEBTORS: Amounts falling due within one year
| DEBTORS: Amounts falling due within one year | ||||
|---|---|---|---|---|
| 30-Sep-24 | 30-Sep-23 |
|||
| £ | £ |
|||
| Pledges receivable to purchase a building | - | 173,000 |
||
| Loans receivable to purchase a building | - | 30,000 |
||
| - | 203,000 |
|||
| CREDITOR Amounts due greater than one year | ||||
| 30-Sep-24 | 30-Sep-23 |
|||
| £ | £ | |||
| Loans repayable for purchase of building | (30,000) | (30,000) |
6. CREDITOR Amounts due greater than one year
7. UNRESTRICTED FUNDS
| Balance at 30.09.23 |
Balance at 30.09.23 |
Income | Expenditure | Transfers | Balance at 30.09.24 |
|
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | ||
| General unrestricted | 209,463 | 91,907 | (7,577) | - | 293,793 | |
| Total Unrestricted funds | 209,463 | 91,907 | (7,577) | - | 293,793 | |
The general funds represent the free resources for the pursuance of the Church’s activities.
8. RESTRICTED FUNDS
| Balance at 30.09.23 |
Balance at 30.09.23 |
Income | Expenditure | Transfers | Balance at 30.09.24 |
|
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | ||
| Building fund | 267,150 | 296,275 | (2,000) | - | 561,425 | |
| 267,150 | 296,275 | (2,000) | - | 561,425 | ||
| Total restricted funds | ||||||
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TRUE JESUS CHURCH (ESSEX)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 SEPTEMBER 2024
9. ANALYSIS OF FUNDS
| General Funds Restricted funds Total funds 2024 |
|
|---|---|
| £ £ £ |
|
| Cash at Bank and in hand | 293,793 561,425 885,218 |
| Other net assets | - (30,000) (30,000) |
| Total funds | 293,793 531,425 855,218 |
| General Funds Restricted funds Total funds 2023 |
|
|---|---|
| £ £ £ |
|
| Cash at Bank and in hand | 209,463 94,150 303,613 |
| Other net assets | - 173,000 173,000 |
| Total funds | 209,463 267,150 476,613 |
10. TRUSTEES EXPENSES
No fees or expenses have been paid to trustees. All trustees act gratuitously.
11. TRUSTEES REMUNERATION AND BENEFITS
None of the trustees have been paid any remuneration or received any other benefits from an employment with the charity or a related entity.
12. RELATED PARTY TRANSACTIONS
There were no related party transactions in the reporting period.
13. STAFF COSTS
The Church has no employees. The preacher’s salary costs are met centrally by The General Assembly of True Jesus Church, United Kingdom.
14. GOING CONCERN
The Church has no going concern uncertainties.
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