CHARITY REGISTRATION NUMBER.. 1179249 Ely Presbyterian Church (Reformed) Unaudited Financial Statements 31 March 2024 GORDON DOWN & COMPANY LIMITED Accountants and Business Advisors 144 Walter Road Swansea SA1 5RW
Ely Presbyterian Church (Reformed) Financial Statements Year ended 31 March 2024 Page Trustees, annual report Independent examinerfs report to the trustees statement of financial activities Statement of financial position Notes to the financial statements
Ely Presbyterian Church (Reformed) Trustees. Annual Report Year ended 31 March 2024 The trustees present their reportand the unaudited financial Statements ofthe charity forthe yearended 31 March 2024. Ref8r8nce and administrntivo dalails Registered charity name Ely Presbylerian Church (Reformed) Charity registration number 1179249 Prfnclpal offlc• 4-6 Archer Roa(J Card CF5 4FR Tho Tw$tso8 Rev Philip Haines (Elderl Mr Alun Swain (Elderl Mr Adrian Williams (Elderl Mr Gafeth Wlliams (DeanI Mr Justin Wlliams (Deacon) Indendent examlner Philip Harris FCA of Gordon Down & Company Limited 144 Watter Road Swansea
Ely Presbyterian Church (Reformed) Trustees. Annual Report Year ended 31 March 2024 structure. govemance and management Govomlng document Ely Presbyterian Church (Refomedl is constrtvled under a Charitable Incorporated Organisalion ICIOI foundation registered on 18th Juty 2018 and a ¢onstrtution date¢J 20th Mar¢h 2018. The registered charity number is 1179249. Organisational structure The Tru5tee5 who have served during the year and since the year*nd are set out on page 1 together with other legal and administrative informatson. The church is ruled by rts ordained elders. The Trustees are responsible for preparing the TTuslee5' Report and the financial slalemenls in accordance wlh applicable law and United Kingdom Accounting Standards Including Reporting Stsndard 102.. The Financial Reporting Stsn(lard applicable in the UK and Republic of Irelan¢J. The law applicable lo charrties in England & Wales requires the Trustees lo prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the charrty and of the income and expenditure of the charity for that penod. In preparing these finan¢ial stslemenls. the Truslees are required lo.. select suitsble accounling policies and then apply them consislenlly., make judgments and accounthng esbmates that are reasonable and prudent,. state whether applicable accounting standard5 have been followed, subject to any material departures disc105ed and explained in the finan¢ial slalemenls." and prepare the financial statements on the going concern basis unless il Is inappropriate to presume that the charity wll continue in business. The Tru$lee$ are also responsible for maintaining proper aUtIng rOrdS which disclose wlh reasonable accuracy at any time the financial positson of the charity and enable Ihem to ensure that the financial slalemenls comply th the Charities Act 2011. the Charity {Accounls and Reports) Regulations 2008 and the provisions of the trust dee¢Jl¢on$lilulion. They are also respon$ible for safeguarding the a$sel$ ol the ¢harrty and hence f¢y tsking reasonable $tep$ for the prevention and detectn of fraud and other irregularities. Appolntmont and Induction of n•w Trusttès The Trustees are elected by the Elders, session. The Twslees are responsible for the induction of any new Trustee. This invdves making them aware of a Trustee's responsibilrties and of the nature of the governing document and administrative procedures. A new Trustee would receive a copy of the charity's Trust Deed together wlh a copy of the ch8rity'5 latest Annual Report and Accounts. K•y manag•ment remuneratlon The board of Trustees and the Elders. session are considered to be the key management personnel of the charity. Details of Trustee remuneration or other benefits are disclosed at note 13. Details of Trustee expenses and related party transactions are disclosed in notes 13 and 20 respectively. Ri$k management The Trustees have ¢onducled a review of any potential risks lo which the tharty may be exposed. Wnere appropriate, systems or procedures have been established to mitigate potential risklsl. These procedures are periodically reviewed in order to ensure that they conb'nue to meet the needs of the charity.
Ely Presbyterian Church (Reformed) Trustees. Annual Report Year ended 31 March 2024 Objectives and activities ObJe¢tlvos and alms Ely Presbyterian Church (Refomiedl was planted in 1927 as a mission church by the Fotward Movement of the Presbyterian Church of Waleslcalvinisbc Methodist Church of Wales. In 1968 we became an Independent Presbyterian church, and in 1974 our Church School was estsblished, enliiely funded by ourselves to the present day. &"nce November 2021. we have been members ofthe Evangelical Presbyterian Church of England and Wales. Our testimony 1$ that Go¢J has been good lo us over all of these years. The object of Ely Presbyterian Church IReforniedl hereinafter called 'the Church,, and Ely Presbyterian Church School hereafter called 'lhe School, is lo advance Ihe Christian Reli9ion and Christian education in accordance with the doctrinal standards of the church, namely the propagation and practice of the Christian Faith as described in the historic Reformed confessions such as the Westminster Confession of Faith. In planning activities the Trustees have had due regard to the guidance issued by the Charity Commission relating lo publK benefft, and, in particular, the specific guidance on charities for the advancement of religion.. Alms and pov In furtherance of the above object the church shall.. lal Proclaim the good news of safvation through our Lord ancj Saviour Jesus Christ. The message of the Bible is as rdevanl today as rt has been in years gone by. and so we aim lo teach its lif& giving truth in all its parts.. Ibl Establish and build up rtself as a Christian church vthich futiOnS as custodian, disciple of and witness lo the truth ol Holy S¢nplvfe', Icl Declare the whole counsel of God as revealed in Holy Scripture and summarised in the Subordinate Standards of the Church.. Idl Enable as many people as possible lo worship and serve the living God, and lo be instructed in the Christian faith. lel Seek lo outwork, in practal ways, the Bible leaching that as Christians we should be charitable. freely sh¢)wing the mPaSSion of Jesus Christ," In Establish and maintain, according to the providence of God. such institutions and structures as will provide for." christs.an education., theological Irainmg,. care of the old and infimi", good works to be done lo all men and especialty those of the household of farth., Igl Seek visible union wth other chur¢he$, hoving the same, or dosely compatible, Confessional basis and fomi of govemment; Ihl Seek associ*ion, i.e.. fralemal or sisler<hur¢h l3"0n$. wrth other Reformed or Presbyterian churches subscribing to the Westminster Confession of Faith or the Three Fomis of Unty li.e. the Belgic Confession, the Heidelberg Catechism and the Canons of Dort) or a compatible Reformed confession.,
Ely Presbyterian Church (Reformed) Trustees. Annual Report Year ended 31 March 2024 Aims and powers (continued) lal Ci>operate wherever possible, on a Bits4ical basis appropriate to category, with other Christian ¢hur¢hes and organisations". Ibl Undertake the task of church extension and foundation as the persuasion of Scripture, providence and the Hoty Spirrt direct and constrain; Icl Erect or acquire. maintain and, rf necessary, dispose of such land and buildings as are necessary to acc¢)mplish the obJ'e¢L and for no other purposes than those consistent with charitable slalus.. Idl Engage one or more persons in paid employmenL VoluntrS In addits'on lo employing staff. in order to Condu the full range of ils aclivilies, the church relies extensively on volunteer support. 11 is not possible to place a monetsry value on the contributions made by volunteers nor are figures available that show how many hours of service they provide. Achlovem•nts and rformanc Vthen considering our actsvities for the year the Church has considered the Commission's guidance on publi¢ benefit and in particular the specffic guidance on charities for the advancement of religion. Ely Presbyterian Church (Relormedl promotes the Christsan Religion primarily, bul not exclusively, within the districts ol Ely and Caerau in the City and CardrfF. We seek lo enable ordinary people lo live out their faith as part of our community Ihrough.. _ Worship and prayer.. leaming and understanding the whole counsel ol God as found in Ihe Bible and developing their relationship wth and trust in the Lord Jesus Christ- Provision of pastoral care for people wthin our community and- Missionary and outreach work. During the year. we have supported a number ol worthy causes las detailed in the notes of the accounts), as part of our mmItment we support a raroe of Christsan chantable organisations. In brief, we have supported the following chanlie$'. The Alricn Bibl• University This charity trains African students in Biblical studies and related disciplines. We have started sponsoring a new student, Senga SiMple, and will continue to do so for the four years of his training. This is an extract from a letter that SimplKe WTOte to us.. 'My name is Senga simpl8, l)orn 1995 in North Krvu province, Democrat R8publAC of Congo. I, my the siblings and parents CuentlY Iwe in Uganda as TugeeS because of Ihe war that destmyed everything we had and forced my family to seek for safety. I have stmngly deSId to know and love Christ and my d8M is to devote my lrfe lo teach God's wofrl to those who have no access to it. I b&lAeve that studying at Afncan Bible Uftiveffstytis an opportuntythat God has prO¥entIallYpUt before me so thal l can be prepared and equipped for that noble task ahead. l am so grateful lor the support that you give to make it possible". We receive<l a visit from representslives of ABU on 5TFI July 2023. and other local churches joined us for the presentstion. for a bme of fellowship and for an opportunty for charitable giving.
Ely Presbyterian Church (Reformed) Trustees. Annual Report Year ended 31 March 2024 Achievements and perforniance (continued) Th• Laproyy Misyion - TLM TLM is an international Christian charity serving a global population of approximately 305 million people in 30 leprosy-affected countries. In addibon to support provided by the Church, the children of our Church School continued lo help10 5UPPOrt this charity so as to instil in them 8 team spirit of compassion and a desire lo show Christian kindness lo those who are in need. Cardiff Foodbank- CFB Ely has been identified as contsining a large number of underprivileged people and wthin ils resources the church seeks to reach out to help families or Indivuals in their difficulties. CFB provides emergency food to local people who are referred to them in ¢risis. This charity forms a part of a nationwde neOrk of foodbanks supported by the Trussell Trust, working to combat povety and hunger across the UK. The Chrlstlan Instlluto - Cl The Cl is committed to the furtherance and promotion of the Christian religion in the United Kingdom and elsewhere. It's a non-denominational Christian charity commrtted to upholding thetruths of the Bible. We have supported the work of the Christian Inslrtule for many years now as il seeks lo promote the Christian faith in the UK. 11 is committed to upholding the Irulh of the Bible which il believes is inerrant and the supreme authority for all life. In recent years, its work has been in the news a$ il has acts'vely campaigned for many issues %thich seek lo undemiine Christian libety and freedom of speech. Opèratlon ChStMaS Chlld: The mission of Operation Christmas Child is lo show God's love in a tangible way to children in need around the world and, together wrth the local ¢hur¢h worldwide. lo share the Good News of Jesus Christ. Since 1990, more than 178 million Children in over 160 countries have experienced God's love through the power of simple shoebox grfls from Operation Chnslmas Child. In 2023 we donate shoeboxes for deprived children through the"pk a shoebox online $¢heme'. Caro Srl Lanka: We have also continued lo support Care Sri Lanka. Care Sri Lanka ICSLI was established as a charitable trust in November 2010 wilh the followng chantable purposes.. 1. To advance education, 2. To relieve sickness and financial hardship. 3. To promote and preserve good health. H•rble's Hut: Since January 2023 we have supported a Ial charity caled "Herbie's HLrf which 1$ situated in Cardrff West, on the site of Herbert Thompson Primary School. Herbie's HLrt 15 a pay as you can shop that opened ils doors ln November 2021. and prOVeS a range of quality fresh, frozen and tinned food, and hygiene and cleaning items to support the lttal community. Herbie's Hut also runs a weekly food club, working Closely wth other ¢harth'e$, including Fare Share and Family Adion. For further infomialion, please consutt our chanties webpage at.. htt s.'lfvh•hv.e creformed.or Icharit
Ely Presbyterian Church (Reformed) Trustees. Annual Report Year ended 31 March 2024 Development of Christian Life The period 1 April 2023 to 31 March 2024 has seen progress in the life of the church. Al the core of the church's commitment is a delemiinabon to declare the whole Counsel of God as revealed in Holy Scripture, so as to enable as many people as possible to worship at our church and to become part of the Christian Community gathered at Ely Presbyterian Church. During the course of the year. gUlar meetings of rshIp and leaching have been maintsine¢J on Sunday5, as well as regular Bible sluds and public prayer meetings throughout the year on Wednesday evenings. Numerous pastoral visits and phone calls have taken place. Our services are publicised on a nob¢eboard outside the church building and online, and all are made welcome to attend and lo join us for worship and fellowship. We have also sel up a YouTube sile, which provides live and recorded service broadcasts. For further infomialion see.. h The chur¢h has ¢ontinued its emphasis on outreach into the communty. Throughout the year we have run regular outreach events. including free BBQ'S. community meals, mince pies, children's activities elc. In Decernber 2023 we went dooT-IctrdooT in the local streets, meeting and 9reetin9 resident5, and dislribuling leaflets In order lo raise awareness of our Church, our Youth Group, Sunday School. and also lo welcome visitors lo our annual Carol Seryice. We are increasingly becoming known as a vibranl community hub,. we have been blessed by an unprecedented number of local residentsioining us onvsite, and lasting relatsonships have been formed. A local Ajlolment Association wa$ able to use our venue lo hold their Annual General Meeting. We have continued to run a Friday evening Youth Group consists'ng of a Bible presentation, games and a free tuck-shop. The Youth Group has been successfiJl, attracting youths from wthin the community of faith as well as Irom the surrounding estsle. Both the Youth Group and the Sunday School continue lo attrad children from churches and also chil¢Jcen from the I(1 community- A men's book club meets fvlice a month and is attended by men from our church, and from other c¢nlexts. There is also a ladies. book club which mee15 tw.o monthly and is attended by women from various churches. The study of particular books lo help in understanding hi)w lo live as Christian men and women in today's society continues to be a Central lealure of these meeb'ngs. There is a150 a men's rneeling organised in collaboration wth other churche5', thi5 meeting facililales closer fellowship through social interaction in an infom)al and relaxed atmosphe. with occasional addresses from the Bible. intention is also lo invite friends and nehbourS lo share in these occasions. The Eldership of our church have been attending regular Presbytery meeb.ngs al rfIent locations across the UK. and. as a body of ¢hur¢hes. we have been sending many of our ¢hildren lo an annual summer mp. During the year, a programme of pastoral visrtation and counselling was undertaken particularty by the minister, as51sled by the elders of the Church, to help and encourage the Church Community. One of our elders began prison visitalion during the year, meeting prisoners and holding services in the Prison Chapel. Development of Christian Life (continued)
Ely Presbyterian Church (Reformed) Trustees. Annual Report Year ended 31 March 2024 Church School Our Chur¢h Sch¢x)l is entirely ftjnded by the giving of the ¢hur¢h membership. and donations from parents. We are not funded by any state contributions, either local or national state contributions. The aim ol the Church Sch¢X)l is lo provide as comprehensive an edu¢ab"on as resources allow lo prepare them for potential fvlure development. We possess a strong desire lo equip the children lo realise their full potential but also to use their capabilities and energies according to the highest moral principles and noblest aspirations. The work of our Schod has continued to prosper for another year. leaching the children of members and children from the wder local communty, God is and %thal He wants for the worfd, and that He is interested in them. We believe education is much more than giwng Children facts. We aim to engender an excitement about leaming,. a passion for knowledge and understsnding." and a lifek)ng ¢uriosity about the worfd. We aim lo make our school a place vthere we al grow in our love for each other and our love of learning. The Church School was inspected by Estyn, Her Majesty's Inspeclorale for Education and Training in Wales. during September 2023. Here is an extract from their inspecb.on report. Ely Presberian Chiirch School is a nurturing Chrislian environment whose pupi7s embody the values of kindness, honesty, respect and responsibilrty huhly successfully. 11 is a 51rong community, wh unrtes pupils. parents and slaff. Pup$ leam the importance of chanty and m8ke 8 positive contribution to theirlocal communrty Ihrough practal and lund raisvw activrties. The children of the Church School regularly attend at the Regency care Home in Cardiff to entertain the residents wrth carols and other songs. They algo organised an annual coffee moming, baking cakes and helping lo seNe drinks in order to raise money for the Leprosy Mission.
Ely Presbyterian Church (Reformed) Trustees. Annual Report Year ended 31 March 2024 Financial review Going concom The main risks to which the Charity is exposed. as idenlified by the Trustees, in the areas of operations, safeguarding, and regulatory compliance are regularly reviewed. Procedures are in place to mitigate those risks which are considered appropriate arKI effects"ve. Ely Presbyterian Church receives fijnds entirely from freewll offerings, mainly by people associated with the church. An offering is taken up in the weekly services, and many other donations are given separately, mainty by bank Iransler. Encouragement is given to use the gift aid scheme. An announcement regarding giving is made every month. An additional periodic voluntary freewill offering opportunty 1$ a long-held Iradf(ion. There are no public appeals for funds. No professional fvndraisers are employed. All funds collected fof other chanties are passed on to the charities and people described, an¢J none of this money is used to defray any expenses of the Church. The Church held its 2023124 business meeting in June 2024, vthen the budget proposed for the year was presented. Having considered budget and cash fl¢)w projeclions for Ihe nexi 1ve nnths, the Trustees are confident that the Church will continue lo meet its liabilities as they fall due for the foreseeable future and consider that there are no material uncertainties in relab.on lo the Trust's ability to continue as going concern.11 Is Iherelore Considered appropriate by the trustees to prepare the financial slalemenls on a going concern basis. The accounts comply th the current statutory qUirements and the charity, governing documents. Total incoming resources lor the year of £154,101 {2023 - £166,049) con8i$l of donations received of £127,311 12023 £137.4091 asso¢iate¢J tsx refvnds of £22.764 (2023 £24,000) and other incomelinleresl of £4,02612023 - £4.6401. A significant PTOPOrtion of the lolal expenditure of £190,83812023 - £164,938) relates lo salaries and school costs. Expendrture exceeded incoming resouS by £36.737 12023 expenditure by £1,111). incoming resources exceeded There are no revaluation surpluses or deficits in the year12023- £nill.
Ely Presbyterian Church (Reformed) Trustees. Annual Report Year ended 31 March 2024 Reserves policy The Elders have ex8mine(I the level of seryes held al the year*nd wth a view lo provilling resilience lo any potential risks which could face the charity. A policy has been established lo maintain free reserves equivalent to 6 months operating costs. This is estimated to be approximately £85,000. The free reserves of a charity represent the funds that are freely available lo spend. In calculating the free reserves the Elders have deducted fr¢)m the total of unrestn"¢led ftjnds any funds designated al the year end and the net book value of any tsngible fixed assets as detailed in the accounts. This leave5 8 surplus of free Te5erve5 al 31# March 2024 of £168,443 whKh is above the target Sel by the Elders by £83,443. The policy is reviewe(I by the Tnjstees on an ongoing basis. The budget proposed for the year has been ma¢Je possible by the generosity of giving in the Church. The Trustees, annual report was approved on 21.01.2025, and signed on behalf of the board of governors by.. Mr A 1/illiamS (Elderl Trusteolchaimian
Ely Presbyterian Church (Reformed) Independent Examinerfs Report to the Trustees of Ely p$byterian Church (Reformed) Year ended 31 March 2024 I report lo the trustees on my examination of the financial statements of Ely Presbyterian Church IRefomedl I'the charity'l for the year ended 31 March 2024. Responsibilities and basis of report As the trustees of the charity you a reswnsible for the preparatson of the financial stslements in accordance with the requirements of the Chanties Act 2011 Ilhe Acri. I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Act. Indendent •xamln•es statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause lo believe ihal in any material respect.. accounting records were not kept in respect of the charty as required by section 130 of the Act., or the financial statements do not accord with those records,. or the financial statements do not comply the applicable requirements conceming the form and conlenl ol accounts sel out in the Charthes (Accounts ancj Reports) Regulaliens 2008 other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters In connection wlh the examination lo which attention should be drawn in this report in order lo enable a proper understsnding ol the accounts lo be reached. Independent Examiner Philip Harris, FCA of Gordon Down & Company Limited 144 Vvalter Road Swansea SA1 5RW January 2025 10
Ely Presbyterian Church (Reformed) ststement of Financial Activities Year ended 31 March 2024 2024 Restricted funds Total funds Total funds 2023 Unrestricted funds Nots Income and 8ndowTn8nts Oonations and legacies Investment Income Other income 146,549 1.768 2.235 3.526 23 150,075 1,791 2.235 161,409 452 4.188 Totsl Income 150.552 3.549 154.101 166.049 Expenditure Expenditure on charitsble activities Totsl expendlturo 187.843 2.996 190.838 164.938 187.843 2.996 190.838 164.938 Net l•xpendltUTèlllncome and not movemont In funds 137.2911 553 136,7371 Reconclllallon of funds Total funds brought forward Totsl funds carrfed forw•rd 1,339,201 2.068 1,341,269 1,340,158 1,301,909 2.621 1,304,530 1.341,269 The statement of financial ath'vities includes all gains and losses recognised in the year. All income and expendrture derNe from conbnuing acts'wties. The note8 on pages 13 to 21 form part of these financial 8taternents. 11
Ely Presbyterian Church (Reformed) ststement of Financial Position 31 March 2024 2024 2023 Nots Fixad assets Tangible fixed assets 14 1,073.466 1.094,658 Current assets Oebtors Cash al bank and in hand 15 49,346 183.184 26,582 221.449 232.530 248,031 Crodltors: amounts falllng du• wlthln on• year Not currnnt assets 16 1.465 1.420 231,065 246,811 Totsl a$$ots 10$$ Current Ilabiliti08 1,304.531 1.341,269 Net a$80ts 1,304.531 1.341.269 Funds of tho ¢harlty Restricted funds Unrestricted funds 2,821 1.301,909 2,068 1,339,201 Total charlty funds 1,304,530 1,341,269 These financial statements were approved by the board of tnJslees 8nd 4uthoTised for issue on 26 January 2025, and are signed on behaff of the board by.. Mr A William5 Trustee The note8 on pages 13 to 21 form part of these financial 8taternents. 12
Ely Presbyterian Church (Reformed) Notes to the Financial Statements Year ended 31 March 2024 General infomiation The charity is a publi¢ benefit enb.ty and a regislere(I charity in England and Wales and is unincorpored. The add$$ of the principal office is Archer Road. Ely, Cardiff. CF5 4FR. Wales. Stat8mant of compliance These financial statement5 have been prepared in compliance with FRS 102, The Financial Reporting Standard applicable in the UK and the Repvblic of Irelanij,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland IFRS 1021 (Charities SORP IFRS 10211 and the Chanties Act 2011. Accountlng pollclèy Ba81s of proparatlon The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial asset5 and liabilrtEs arKI investment properties measured al fair value through income or expenditure. The financial stslements are prepared in sterh'ng. which 1$ the fvnctional curyency of the enlily. Golng concern The Trustees have considered the consequenees of events and conditions relating to the Church, and they have determined that they do nol creale a malerial uncertainty that casts signifant doubt upon the entity's ability to continue as a going concem. Judg•m•nt$ and k•y $our¢•$ of tIMatIon un¢ortalnty The preparation of the financial statements reques management lo make judgements. estimates and assumptions that affect the amounts reported. These eslimales and judgements are continually reviewed and are based on experience and other faclor$, induding expectations of future events that are believed to be reasonable under the circumstances. Signrficantjudgemenlg- There are cUrn(lY no key judgements that management has made in the process of applying Ihe entity's accounting policies that have a significant effect on the amounts recognised in the financial slalemenls. Key sources of estimation uncertainty- There are currenly no key assumptions or other sources of eslimalion uncertainty that have a signifant risk of causing a material adjustment lo the carrying amounts of assets and liabilities vAthin the next finarla1 year. Fund accounting Unrestricted funds a available for use at the discretion of the trustees lo further any of the charity's purposes. Designated funds are unrestricled funds eam)arked by Ihe trustees for path'cular future project or commitment. Restricted funds are subjected to restn"clions theirexpendrture declared by the donor orthrough the terms ofan appeal. and fall into one of suk>¢la$ses." $tride InMe fvnds or endowment tunds. 13
Ely Presbyterian Church (Reformed) Notes to the Financial Statements (contsnuo Year ended 31 March 2024 Accounting policies icon In¢omlng re$¢ur¢•s All incoming resources are induded in the ststement of financial activities when entidement has passed to the charity., r( is probable that the economic benefits associated with the transaction will flow to the charty and the amount can be Teliabty measured. The following specific policies are applied to particular categories of in¢ome'. InMe from donations or grants is recognised when there Is evidence of entitlement lo the gift. receipt is Pfobable and rts amount can be measured reliabty. legacy income is recognised vA)en receipt is probable and enliuemenl is estsblished. in¢ome from donated goods is measure(l al the tsir value of the goods unless this Is impractical lo Measu liablY. in which case Ihe value is derived from the cost lo the donor or the estimated resale value. Donated facilits'es and services are recognised in the accounts when received rf the value can be rehably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised WTth the delivery of the contracted service. This is dassified as unreslncled funds unless there is a conlraclual requirement for il lo be spent on a particular purpose and retumed if unspent. in which case il may be regarded as restricted. Resources oxpond•d Expenditure is recognised on an accnmls basis as a liabilty is incurred. Expenditure includes any VAT which cannot be fully recovered. an(J is classified under headings of the stslemenl of financial aclivrties to which rt relates.. expendrture on raising fund$ in¢lude$ the ¢o$ts of all fundraising activrties, events, non harffable trading a¢ts'vits'es. and the sale of donated goods. expendrture on charitable aciivrties includes all costs incurred by a charty in undertaking activities that fvrther rts charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the govemancE of the charity apportioned to charitable aclivrties. 0therexpendrtU includes all expendrture that is neiU)er related to rai*ng funds forthe charity nor part of ils expenditure on charitable activrties. All ¢o$ls are all¢xated to expendilure categories relle¢ting the use of the re$our¢e. Direct ¢o$ls attributable to a Sing activty are allocated direclly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonabk, justifiable and consistent basis. Tanglble ass8ts Tangible assets are initially recorded atcost. and subsequently staled alcosl less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value al the dale of revaluab.on less any subsequent accumulated depreciab.on and subsequent accumulated impaim)ent losses. 14
Ely Presbyterian Church (Reformed) Notes to the Financial Statements (contsnuo Year ended 31 March 2024 Accounting policies icon Tangibl• a$$ets (Conllnu An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impaimient that has previously been recognised as expenditure vthin the statement of financial activities. A decrease in the carrying amount of an asset as a re5Urt of revaluation. is recognised in other recogni5ed gains and losses, except lo which it oftsels any pvIOuS valUatiOn gain. in which case the loss is shown within other recognised gains and losses on the st*ement of financial aclivi(ies. Depreciation Depreciation is calculated so as to wrrte off the cost orvaluats.on of an asset, less ts residual value, over the usefvl economic life of that asset as follows.. Freehold property Fixtures and fittsngs 2% straight line 20% slraighl line Impalrment of fix•d assots A review for indicators of impaifment is carried out al each reporting date. with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount. the as5el is Impaired accordingly. Prior impaiments are also reviewed for possible reversal al each reporting dale. For the purposes of impairment testsng, when it is not possible to esbmate the recoveTable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unil to which the asset belongs. The cash%enerating unit is the smallest identifiable group of assets that in¢ludes the asset and generates cash inflows that largely independent tsf the cash inflows from other a$sel$ or groups of assets. For impairment testing of goodwill, the goodw'll acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the ¢ombinalion. irrespective of vknelher other assets or Iiabilrties of the charity are assigned lo those units. Flnanclal Instrumonts The Church only has financial assets and financial liabilits.es of a kind that qualify a5 basic financial inslrumenls. Basic financial instruments are initially recognised al Iran5aclion value and subsequently measured al their settlement value the exception of bank loans which would be subsequently measured at the carrying value plus interest less repayments. Defined contribution plans ConlTibulions lo define<l contribution plans are Cognised as an expense in the period in which the related service is provided. Prepaid contn'butions are rewni$ed as an asset lo the extent that the prepayment will lead to a reduction in fLrture payments or a cash refvnd. Vvhen contn"bulions are not expected to be 5etlled wholly wlhin 12 months of the end of the reporting dale in which the employees nder the related seM¢e. the liability is measureil on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. 15
Ely Presbyterian Church (Reformed) Notes to the Financial Statements (contsnuo Year ended 31 March 2024 Donations and legacies Unresth"¢ted Funds Reslricled Total Funds Funds 2024 Donations Donations Offerings Gift Aid School donatsons Gifts 110.835 1.315 22,764 4.830 6.805 3,526 114,361 1.315 22,764 4,830 6,805 146,549 3,526 150,075 Unrestricted Funds Restricted Total Funds Funds 2023 Donations Oonations ¢erIng$ Gift Aid School donations Gifts 113.084 690 24.000 6.203 13.425 4,004 117.091 690 24.000 6.203 13,425 157,405 4,005 161,409 Invostment Income unrestn.cted Funds Reslricled Total Funds Funds 2024 8ank interest reCeiVae 1,768 23 1,791 Unrestricted Funds Restricted Total Funds Funds 2023 Bank interest reCeiVae 447 452 Other Inc¢me Unrestricted Totsl Funds Unre$tri¢ted Total Funds Funds 2024 Funds 2023 Solar panel income 2.235 2.235 4,188 4,188 16
Ely Presbyterian Church (Reformed) Notes to the Financial Statements (contsnuo Year ended 31 March 2024 Expenditure on charitable activities by fund Unresth"¢ted Funds Reslricled Totsl Funds Funds 2024 Ministerial and pastoral activities Church relation5 and preaching School costs Support costs 92,510 12,613 16.587 66.133 2,995 95,505 12,613 16.587 66,133 187,843 2,996 190,839 Unrestricted Funds Restricted Total Funds Fund$ 2023 Ministerial and pastoral activities Church relations and preaching School wsts Support costs 98.057 12.231 15.205 32,672 98.057 19.004 15,205 32,672 6,773 158,165 6,773 164,939 ExndIture on charbtabl• actbvltles by activlty A¢tivilies undertaken Grant funding directly of acb"vities Support costs Total fund8 2024 Total fvnd 2023 Ministerial and pastoral activities Church relations and preaching School costs Governance costs 85,006 10,499 64.668 160,173 129,309 12,613 16.587 12,613 16,587 1,465 19.004 15,205 1,420 1,465 114.206 10.499 66.133 190,838 164.938 17
Ely Presbyterian Church (Reformed) Notes to the Financial Statements (contsnuo Year ended 31 March 2024 Analysis of grants 2024 2023 Grnnts to institutions Cardrff Foodbank Care Sri Lanka Christian Insb'tute ABU Herbie's Hut Other African Bible Society Alzheimer's Society Leprosy Mission Medhurst Ministries Mission to the World Operation Mobilisation Pastors Academy 251 960 250 6.535 352 2,151 500 2,040 203 1,035 200 315 500 2.383 1.000 1.000 10.499 9.176 Total grants 10,499 9.176 10. N•t1oxpondltureVlncom• Net lexpendilureifinwme 1$ stated after thargir¥Jll¢redilingl'. 2024 2023 Depreciation of tsngible fixe<l assets 21.982 23.134 11. Ind•p•nd•nt examlnatlon fees 2024 2023 Fees payable lo the independent examiner for" Independent examination of the financial statements 1,465 1,420 12. Staff ¢ts The total staff costs and employee beneffts for the repO.g period are analysed as follows.. 2024 2023 Wages and salaries Employer contributions to pension plans 79.973 5,033 70.170 4,753 85,006 74,923 The average head count of employees duriThJ the year was 912023.. 91. The average number of full-lime equivalent employees during the year is analysed as follows.. 2024 No. 2023 No. Number of staff No employee received employee benefits of more than £60,000 during the year12023'. Nill. 18
Ely Presbyterian Church (Reformed) Notes to the Financial Statements (contsnuo Year ended 31 March 2024 13. Trustee remuneration and expenses The Charity's conslilub.on makes provision for payments lo be made to a Trustee. During the year a salary of £34,588 was paid to one of the Trustees who was a lulktime employee of the church. No expenses payments were noted. 14. Tanglble fixod a$sot$ Freehold Fixiures and propety fittings Total Ct At 1 April 2023 Additions 1.100,000 67,913 771 1.187,913 771 At 31 March 2024 1.100,000 68,682 1.168,682 Depre¢latlon At 1 April 2023 Charge for the year At 31 March 2024 24,000 12,000 49,255 9,962 73,255 21.962 36.000 59,216 95,216 CarySng amount At 31 March 2024 1,064.000 1,076.000 9,466 1B,658 1.073.466 At 31 March 2023 1.094,658 15. Dèbtors 2024 2023 Prepayments and accrued income other debtors 2,248 47,098 2,248 24.334 49,346 26.582 16. Crnditors: amounts falling duè within onè year 2024 2023 Accruals and deferred income 1,465 1,420 17. Pensions and other post rntirnm8nt bon8frts Defined contribution plans The amount recognised in Iome or expenditu as an expense in relation lo defined contribub'on plans was £5.03312023' £4.7531. 19
Ely Presbyterian Church (Reformed) Detailed Statement of Financial Activities Year ended 31 March 2024 18. Analysis of charitable funds Unr•strl¢tsd funds Al 1 April 2023 At Income Expendrture Transfers 31 March 2024 General funds 1,339.200 150.552 {187,8431 1,301,909 Al 1 April 2022 At Income Expenditure Transfers 31 March 2023 General fijnds 1,329,859 162.040 1158,1651 5,467 1,339.201 Restricted funds Al 1 April 2023 Al Income ExpendTture Transfers 31 March 2024 Organ Fund Charity Fund 2,068 3.549 12.9961 12.9961 2.621 2,068 3.549 2.621 Al l April 2022 At Transfers 31 March 2023 Income Expendrture Organ Fund Charty Fund 5.467 4.832 15,4671 4.010 16.7741 16,7741 2.068 10.299 4.010 15.4671 2.068 Règtrictèd lund- Charity lund Church members contribute to this fund which makes donations lo extemal Christian inslilutions. Dosignated lund- Ministry fund Thi5 designated lund wa5 established as a eonlingen¢y lund to meet the cost of future ministry salarieg. The opening and closing balances on this fund were £60,000. 20
Ely Presbyterian Church (Reformed) Detailed Statement of Financial Activities Year ended 31 March 2024 19. Analysis of net assets bet¥en funds Unresth"¢ted Funds Reslricled Total Funds Funds 2024 Tangible fixed assets Current assets Credi(ors less than 1 year N•t assets 1.073,466 232.530 11.4651 1.304.531 1,073,466 232,530 11.4851 1.304,531 Unrestricted Funds Reslricled Totsl Funds Fund$ 2023 Tangible fixed assets Current assets Credf(ors less than 1 year 1.094,658 245.963 11.4201 1,094,658 248.031 11.4201 1.341.269 2,068 1.339.201 2,068 20. Related partles The aggre9ale value of unconditional donations made by the Trustees in the period lo 31 March 2024 was £24,33012023 - £23,488). 21