glebe chapel Glebe Chapel CIO Trustees, Annual Repoi't and Un4?udited FinAneiAI StateJnents Yeai. ended 31 March 2024 Glebe Chapel CIO Thistees, Annual Report and Unaudited Financial Statements Year ended 3181 Marth 2024 Charity Number. 1179245 Company Number. CE014670 CONTENTS PAGE Report of the Tn￿¢¢¢3 atement orruw￿laI activities Notes forniing p8rtof the financial staten￿ts 8-19 Glebe Chapel CIO Thisteej, Annual Report and Unaudited Financial Statements Year ended 31# March 20 The trustees presentthelr1e￿￿t￿iIb tk fmanGial sthtcm¢nts ofts cTrOTity forthe yearended 31si Mwrh 2024. Th¢ tr1￿￿¢$ have adopted the provistons ofAcc0u￿g and Re￿[ting by (Jwiiies: StstenKnt of Rttcqnmetthd PraGti¢¢ (SORP) applicable to charities preparing th¢ir aLYowIts iti x¢ordance with the Rep)rtllig StaThJard appliGabk in the UK attd Republic of IreIand (FRS102) (¢ffective l JaDuary 2019). nerai Inforniation Reference and adminiltrative infornia¢ion Charity Reg No. l¥inGipk Address: I IT)245 NewcntC(qDmUDity Centy Rw RO￿ GL18 IDB Board of Trnsttt Mr Mwk (knuklitig (resigned cwoir2024) MrTim Lewis (8pN)iDtd CW0112024) Ms Victorn M¢Milllln (8ptoin*d 08m112024) MrJan Daines Lioyds Ban 19 ￿18a* GLI INU BaTc18ys B3nk 18 Southgate Str GLI 2DH Glebe Chapel CIO Trustees, Annual Report and Unaudited Ftnancial Statements Year ended 31# March 2024 ObJe¢tfvu and Alms Glebe ChBpel is a ¢lwitsbl¢ tsvst registe￿1 with the Chwlty Commission in July 20J8 under charity number l IP)245. It is 80verned by CIO foundation constitution18St UEKlaied 18th June 2018. The C￿￿ent objects of Glcbe Chapel, aB listed in the CIO foundation constitution, ale as follows.. To advance the evangelical Christian faith for Ihe ben¢fil orth¢ public in accorda￿¢ with th¢ statements of faith appearin8 in schedule l of the trust deed, including relievin8 those in need and encouraging community development. The objective may be purgued anywhere in the United Kingdom or the world directty of via other chaTitsble Organi￿tionS at the discretion of the Stru¢tur4 Goyernante and Management The oharity trwtee8are wionsible for the general conttol and managcmcntof the charity. The trustees 8ive their lime freely and receive no remuneTation OT other fujancial benefits in th¢iT rok as Irustees. Dwing the year Mark Gouldin8 Stood down as The day to day running ofthe charity is undertaken by members of Gl¢b¢ Chapel Church. 8pecifiGally the Eldet5. Pa8lor and the Ministy Teom L¢aders. The Ministy Teams are Admini8tratioffj ChildT¢n and Families, Grow. FinanR. Crnth¢￿d Worship. Mission and Outreach, Yl￿th and Young Adults. Achlevements and PerfornianceB Newent Communtty cent￿ Rdurbljhmejrt Pha* 2 Following external and iA*rnal fimd rnisin8 a new project commenced in January 2024 to refurbish an arca of the existing ommunity centre in order to provide a church room capble of seatin8 210 people. It is 8nticipa*d that the projeol wiu be compl¢ted by DeL%mber 2024. Premllu previou￿y Iinown • the Cood N¢w$ Centre This buildin8 iwme the property of this charity in April 2023 foJknYin8 an agrecment with the previous owncr4 Living Watcrs Limited (LWL). thal Gi¢b¢ Cha￿1 would meet all previous (LWL) debts. Followin8 ¢Xt¢nsiv¢ ¢on$ul4tion with potential us¢rs ofthe buildirt& the trustees ayeed to lea8e the buildin& including 2 Ilats. toThe Café (Newent) Limited for 3 years ftom ill June 2024, Glebe Chapel Mlnl$¢ry Artlvltkj In athlition to ourreguffi8rSunday mornin8 services, the mission andoutreath activities include.. Family Community Cirmia (onc a month). M¢n'5 Br¢akfa* (l￿¢8￿10r ¢v¢nl); Coffee Plus ( over So's lunch held once a month); Koffee and Kids (every Friday - mums, dads and toddlers): Home Groups (m¢clinB homc8 once a w¢¢k)' promotional events at New¢nl open day5 (ChTiSUnas. Sprin8 and summer fayres): Missionary Weekends (annual). Mlnlstry Team Actlvltles Eld¢rs.' prayerwceks (annuaD. ¢OwordiDation ofhome groups, prny¢r meetiny (weekly) Children and Famili¢8: GCX Club for 3-1 lyear olds <3 timu a year). GYG for 11-16 year olds (weekty). SwKlay Glubs and Crèche (Sunday mornin8s). Gathered Worship: Corf)rdI￿tes Sunday morning seThices (weekly)., discussion evenin84 breaking of bread (bi.monthty) Administration: a support miDisty that elw￿e$ all activilie5 G8rri¢d out by the chvrth smoothly. ¢ff¢ctiv¢ly and sjfefy. The remit of the Admin Team includes building main*naMce, rA)-OrdI￿lIn8 communications andequipment. Glebe Chapel CIO Trnste￿, ABnuAI Report aDd Unaudited Flnanclal Stat¢m¢Dts Year ended 315t March 2024 NeweDtCommuDIty CeDtre Actlvlthl Tbe Comll￿ty C¢otre provides r(￿ whi¢b •r¢ rented on a le8$¢ basis oron a daylhouriy rnte bg8i& Tenants include The Men's Shed, two &￿ts. Air TrniniD8 Corps, ScoutslcubwBeaVe￿ Girl Guide51Brownie5. Newent and Distrirt Model AiTCTaft Club and Neweot Towll Couocil. CollllDUDity Event Hir¢s include i lo￿1 brid8¢ ¢lub. litie d4n¢ing and N¢w¢Dt OK¢lwstr Employees The charity employed part time employee8 in th¢ rol￿ of odministrntor and cleaner a fidl-tim¢ pastor. None of the chaTity's ¢mployee8 e4rn Jnor¢ £60.01)O per anDum. Fln•od*l R¢vl•w The Stat¢men¢of Financial Aetivlties for the 12 months a¢¢ounting period end 3111 March 2024 (2023r24) shows a net deficit of £191 (2022123: a sU￿]uS of £770.075). The ¢harity had unrestricted incomin8 resourtts for the period of £182,433 and £108,089 restricted inwmin8 fesouT¢e8. Expth)diture for the period tothlled £190.713. excluding the T¢vaiuation loss of £IOO.000 whi¢h was made on The Ark propety. At the end of the a¢¢ountiJ)g period the level of unresth¢ted 8¢nernl fiutds, de8iwed and ￿tricted fuDd8wgs £34,928, £1,472,676, ATKI £80.441 re9pe¢liv¢ly. R#ervM Poll¢y It is the ￿lIcY ofthe chArity to reserve unrestricted fund8 not cornmitted or invested in tangible fixed r¢pr¢wtin8 belween 2 wnd 3 monlbs of exp¢ttdiluYe. At thi8 level the trus¢ee8 consider th•t they ¢4)uld conlinu¢ with th¢ activitiu of the ch￿lty in th¢ ¢v¢nt of a sudden drop in fill￿1Th￿. Rewn•lbllld¢i of th¢ Trnth¢s The tntylee$ are r¢spon8ible forpreparill8 the TN8te¢s Report and the financial &tstements ID accordance with appli¢gble law and United Kingdom A¢counlin8 Standards including Finan¢i#l ReN)rtiti8 Standard 102: The Financial ReportiDg Standard gpplicAble in the UK and Republic of Ireland Iunittyj Kin8dom G¢nerally Accepted Accounting Practice). The law applicable to ¢lwitie8 in England ond Wale3 require4 the truJtee8 to pr¢pAr¢ fu￿￿111 itatem¢nts for tsch fiDancial year which give a true ￿ fair view of th¢ cbority and of the iDMme and expenditUTe of the cbarity for that￿riod. In preprin8 these 8tat¢m¢nts, the tn4t¢e$ are required to: Select suitable accounting polici￿ 4Dd Jpply th¢m consistently? Observe the methods and PTin¢iples in the CharitieJ SORP. Moke judgements and estimates thal are reosonoble and prudent, State whether applicable UK aCCOUDtiDg &t•ndu(b hav¢ b¢¢n followed subject to any miterial departutrs dI￿10$¢d explained in the fjnancial 8lateIll¢Dts: #nd Prepare the fmancial statements on the 80in8 concern bosis unlem il is inappropriate to as8ume that the ¢ompgny will continue on thlt basis. The truste￿ ar¢ Tesponsible for keeping 8uffi¢iertt ￿¢4)Untin8 records that disclose with reasonable accurHcy al any ¢im¢ the finHncial position of the cbaTity and ¢nttbl¢ th¢m io ensure that the finAnci41 slatements comply with the Chariiies Act 2011, the Charity (A¢¢ounts and Reports) R¢Bulations 2008 and the proviyions of the trust deed1con￿I￿tI00. They art also responsibl¢ for f¢8uarding the ossets of the clwlty and I￿0cC for takiDg rea8onNbk *¢ps for the pffvention olld det¢¢tion of fraud and other irregularities. 5 ...J)o..ceu￿ ..ioa.4. Apprnved by the boatd of tnL4teas on.. .... . ... and Si￿ed ott their behalf ty Glebe Chapel CIO Trustees? Annual Report and Unaudited Flnaneial Statements Year ended 31st March 2024 Inde￿ident Eumlnen Rq)ort to the TruJteeB of Glebe Chapel CJO I report kn the trustee5 on my examination of acmmts of Glebe Chapel CIO (the Charity) forthe year¢nd¢d 3111 Maych 2024. ResponslbUitie8 and basi5 of report A5 the charity trusiees of the cl￿rIty, you ate rapuwble for th¢ pffparntion of the aCfA)unts in accordance with the requirements of Ihe Charities Act 2011 ("the Act"). I rewt in r¢specl of my ex&Dination orth¢ Charity's a￿ntS ¢atTied eut utKkr 8¢clion 145 of the 2011 Act and in carrying out my examination I have follow¢d all th¢ applirAble Directions given by the Chority Commission und¢r seG¢ion 143(3)(b) of the AGL Rcsponslbllltles and bwls of rcport I have completed my examinatson. I confmn that no mal¢rial matters have come ts my attention in connection with the examination giving rn¢ to believe that in any ma*rial TespEc¢.' accountin8 records were not kept in resp￿1 of the Clwity as wired by ￿tion 130 of the Act: or th¢ a¢¢owits do not accord with those TKords: or th¢ acG(Nmts do not comply with th¢ appliGabl¢ requirements concemin8 the forni and Content of accounts set out in the Charities (AKowits and Reports) ReBuJations 2008 other than any ￿qUireMent thai the &¢¢owits 8iv¢ a 'tr￿ and fair, vi¢w which is not a matter considered as PBrt of an independent examittation. I have no ¢on¢¢n&and have come across no other m4ttern in Conn￿lI0nwith the examination to whichattention should be drnwn in thi8 rcwi in order to ¢nablc a PToper understsndin8 of the a¢￿unts to Lr ￿ed. Date. S- Tr2CW l>v 2o£L+ 19 Gloucester Ro& Ross on Wye Hereforthhir¢ HR9 5LQ Klt Aston FCCA For and on bthaN of Alliance Accountantl Llmiled Chart¢Ted Management Acc£*untsnts ebe Chapd ao Trn8tees' ADDu21 Report And Unaudited Fillan¢ial Statements Year e￿ded 31* March 2024 stat￿ellt of Fingttci￿ Artivities for the Jear thded 31¥ March 2024 GENERAL DLSIGNATED RESTRICTED 31h)S24 31hJ3123 NOTFS In¢omc Church ministy In￿￿¢ 2 lo@￿ 61.456 168J62 107.823 494 494 H7 Community witrc 4 incom¢ 55.705 55.705 14271 19J29 6.633 25.961 19263 780.071 18 EJp¢nditure Admin costs 6 127.829 31126 159.954 88276 .618 30252 62.811 5(kS 506 712 i(K>.o I￿,(My> Total Ei 760 Net ]nWDe1(expet￿Ltslle) 24.480 {1(K).(M￿) 75J29 (191) 770.075 Transf¢r5 tetween fimds Net movanent in funds li 71.118 28.691 {l(K),(M)O) (191) 770.075 Balances brnught fornard ￿7 15T2 676 81 3111 March 21)24 19 iJ88.044 The notes on ￿ 7 to 18 fonll partof staterne The charity ha9no rwis&l gains ct los￿ othe¥ rewits r￿the ￿1(#1 as ￿t00t alM)vc. Glebe Chapel CIO Trn$tees' ABDUAI Report #Dd Unaudited Fintdnclal Statements Year ended 31¥1 March 2024 All of the activities of the clwrity are classed &% cotilinuing. BAl*nee yheet as at 311¢ March 2024 2024 2023 Flxed a55et5 Inv¢stEn¢nt pro Tangible 48sets 12 13 350,000 1 127 132 1.477.132 450.000 1 124 344 1,574J44 Currehlt Debtor5 Cash ￿ bank and iti hand 14 11,321 114253 125574 41.398 Uabludu: Credltors: falW due vAthln one year 15 (11262) (25.107) Net Current 98gets Totsl assets lets ¢urrent Itablllties 114313 1,591.445 16 91 1,590,635 Credltors: 4monnts falllng due after more than one year 16 (3.400) (2,4(K)) Totsl net assets 1588 045 1588235 Fynds Gener￿ funds Designated fiin& Restricted fun& 17 17 17 34,929 ,472.676 6.237 1.572.676 Total fllnds 1588 045 These financial 8tstements were approv¢d by the tntstees on 0S112114- and signed on their Ixhalf by: Glebe Chapel CIO Trustees. Annual Report and Unaudited Finaneial Statements Year ended 31° March 2024 Notes forniing part of Ihe financial ststements for the year ended 31•t March 2024 l. A¢countin% policies (a) Basis of preparation Th¢ fina￿la1 statements ofthe chwity. whi¢h is a public benefit entity as defmed by FRS102. have been prepared in acwrdanc¢ with th¢ Charities SORP (FRS 102) 'Accounting and Repwtitig by Charities.. Sthtement of RecomnKnded Practice applicable to charities preparlng their accounts in aCcOrd￿￿e with the Financial Reportin8 Standard applicable in the UK and Republic of Ircland (FRS102) {cffKtivc l January 2019), Financial Reportin8 Standard 102 'The Financial RepK)rting Stsndord appli¢able in th¢ UK and Republic of Ireland and the Charilies Act 2011. Tr rmancial statements have E¢en prepared under th¢ bistori¢al ¢ost ¢onv¢ntion. Glebe Chapel Clwrch (Trust) is a charity rcgis*rcd il) England and Wal¢s. The ¢h8rAty registered numEer and prin¢ip818dthess ¢an be found in the reference and thinistrativc thtai]s within th¢ Rcport of thc Trustrts. Th¢ w¢SentatI¢)n￿ and functional rU￿enCY is GBP. The fman¢ial slat¢m¢nts ar¢ rounded to the nearest £ (b) Ineome Voluntary income in¢I￿ling donation4 gifts and legacies is reCO￿lsed where there is an entitlemenl certainty of receipt and the amount can be measured with sufficient ￿liabIlity. Those donated for resale produce incomc whcn thcy aff sold. They aff valued at th¢ amount re81ised. Those donated for onward tranmission to the bencficiarics are included in the statmentof fman¢ial ￿tiVitieS as iftcoming rcgJur¢es (re¢eipts) and r¢sourc¢s expendal (paynicots) when thty are distributed and are valued at the s￿le amount Those donated for Iw ty the chority ar¢ included and valucd at whcn the cash is re4eiveiL R￿¢1￿$ from r￿laImS are accrued for in the statementof financial Activities in the period to which they relate. Inveslment income is recoBnis&l WIM Cr￿lited on trust bank (c) Expenditure El￿nd1￿￿e is r¢co8nised onrx there is a1¢8al or ¢onstnKtive oblt8ation to transfer economic benefit to a third paty, it is probable that a transfcr of ¢wnomi¢ iwfits will Ix rwired in srttlem¢nt and the amount of th¢ obligation can be measure reliably. Expendits￿¢ is ¢lusified by wtivity. (d) Taxation The charity is entided to certain tsx exemptions ¢)n income and profits from investsnenl and any surpluses from trading activities Carried oul in furthera￿¢ of th¢ Trusts prxmary objectives. providing any income. profits and surpluses are provided solely for charitable purp)ses. Itrewverable VAT is clwged to the appropriate expenditure heading. e) Grants Gran¢S and donation5 are aLYounted forwhen paid over. orwh¢n awarded. if thataward ¢reat¢s a binding obli8ation on the Trustees. Glebe Chapel CIO Trn$tees' Annual Report and Unaudited FinaDci81 Statements Y￿r ended 31# Mareh 2024 If) Debtors Trade d¢btors and other debtors are recO￿Lsed at thc s¢ttl¢m¢nt amouDi due afier any trade discount offered. Note$ forning part of the fJnAncial statements for the year ended 31 M*r¢h 2024 (g) Prepayments Advance paymenls a￿ valued atthe 8mount prepaid net of any trade discounts due. {h) Creditors Creilitors and provisions are recognised where the charity has a present d)ligation resuitittg from a past event that will probabty result in the transfer of funds to a third paty. and th¢ amount due Can b¢ measured or estimated reliably. Creditors and provisions are Tr)rn￿llY ryiseAI at thcir Setdem￿l am￿ll￿ after allowing for trade dj'scounts (i) Cash at bank and in hand Cash at bank and cash in hond includes ¢utrent and short.t¢rni liqu￿ accounts with a short maturity. li) Going eontern The trust¢es hav¢ revicwcd the ongoing of the ¢haTity and consider that there are plans in place to continue the chatities Operat[0￿ Trustees have a reasonable expectation that the charity has adequate rewurces to continue in operational existence for the foreseeable future and are not aware of any material uncetsinties regarding this assumptsoTh On this basis, the tru#ees consider it appropnate to continue to prepare the financial statements on th¢ going conc￿1 basis. (k) Tangible fixed assets Dep￿cIatiOn is provid¢d at th¢ following a[￿Ual ratc5 in order to writ¢ oifeach asset over its estimated useful life.. Frethold property FixttNes & fittin8S Computer cquipment . not provided 2(Y/o on cost 25Yo on ￿st All assets are valued at historical costs less any adjustments for d¢pr¢ciatioffj in line with th¢ policies ststed above. (l) Investment prowty The investment proJKrty. Glebe Hub. is repffsented within the a¢￿￿￿ts at its deemol matk¢t value which was £350,000. A revaluation lo&% of £IOO,O(X) has been reo)gnised within these accounl (m) Fund Accounting Unrestricled fill￿S can be used in accordance with the charitable obje