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$tso8 Rev Philip Haines (Elderl Mr Alun Swain (Elderl Mr Adrian Williams (Elderl Mr Gafeth Wlliams (Dea￿nI Mr Justin Wlliams (Deacon) Inde￿ndent examlner Philip Harris FCA of Gordon Down & Company Limited 144 Watter Road Swansea Ely Presbyterian Church (Reformed) Trustees. Annual Report Year ended 31 March 2024 structure. govemance and management Govomlng document Ely Presbyterian Church (Refomedl is constrtvled under a Charitable Incorporated Organisalion ICIOI foundation registered on 18th Juty 2018 and a ¢onstrtution date¢J 20th Mar¢h 2018. The registered charity number is 1179249. Organisational structure The Tru5tee5 who have served during the year and since the year*nd are set out on page 1 together with other legal and administrative informatson. The church is ruled by rts ordained elders. The Trustees are responsible for preparing the TTuslee5' Report and the financial slalemenls in accordance wlh applicable law and United Kingdom Accounting Standards Including Reporting Stsndard 102.. The Financial Reporting Stsn(lard applicable in the UK and Republic of Irelan¢J. The law applicable lo charrties in England & Wales requires the Trustees lo prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the charrty and of the income and expenditure of the charity for that penod. In preparing these finan¢ial stslemenls. the Truslees are required lo.. select suitsble accounling policies and then apply them consislenlly., make judgments and accounthng esbmates that are reasonable and prudent,. state whether applicable accounting standard5 have been followed, subject to any material departures disc105ed and explained in the finan¢ial slalemenls." and prepare the financial statements on the going concern basis unless il Is inappropriate to presume that the charity wll continue in business. The Tru$lee$ are also responsible for maintaining proper a￿U￿tIng r￿OrdS 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 detect￿n 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 fu￿tiOnS 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 pract￿al 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$, hoving the same, or dosely compatible, Confessional basis and fomi of govemment; Ihl Seek associ*ion, i.e.. fralemal or sisleroperate wherever possible, on a Bits4ical basis appropriate to category, with other Christian ¢hur¢hes and organisations". Ibl Undertake the task of church extension and foundation as the persuasion of Scripture, providence and the Hoty Spirrt direct and constrain; Icl Erect or acquire. maintain and, rf necessary, dispose of such land and buildings as are necessary to acc¢)mplish the obJ'e¢L and for no other purposes than those consistent with charitable slalus.. Idl Engage one or more persons in paid employmenL Volunt￿rS In addits'on lo employing staff. in order to Condu￿ the full range of ils aclivilies, the church relies extensively on volunteer support. 11 is not possible to place a monetsry value on the contributions made by volunteers nor are figures available that show how many hours of service they provide. Achlovem•nts and ￿rformanc* Vthen considering our actsvities for the year the Church has considered the Commission's guidance on publi¢ benefit and in particular the specffic guidance on charities for the advancement of religion. Ely Presbyterian Church (Relormedl promotes the Christsan Religion primarily, bul not exclusively, within the districts ol Ely and Caerau in the City and CardrfF. We seek lo enable ordinary people lo live out their faith as part of our community Ihrough.. _ Worship and prayer.. leaming and understanding the whole counsel ol God as found in Ihe Bible and developing their relationship wth and trust in the Lord Jesus Christ- Provision of pastoral care for people wthin our community and- Missionary and outreach work. During the year. we have supported a number ol worthy causes las detailed in the notes of the accounts), as part of our ￿mmItment we support a raroe of Christsan chantable organisations. In brief, we have supported the following chanlie$'. The Alric*n Bibl• University This charity trains African students in Biblical studies and related disciplines. We have started sponsoring a new student, Senga SiMpl￿e, 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 simpl￿8, l)orn 1995 in North Krvu province, Democrat￿ R8publAC of Congo. I, my th￿e siblings and parents Cu￿entlY 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 deSI￿d to know and love Christ and my d￿8M 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¢la$ses." ￿$tride￿ In￿Me 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$¢ur¢•s All incoming resources are induded in the ststement of financial activities when entidement has passed to the charity., r( is probable that the economic benefits associated with the transaction will flow to the charty and the amount can be Teliabty measured. The following specific policies are applied to particular categories of in¢ome'. In￿Me from donations or grants is recognised when there Is evidence of entitlement lo the gift. receipt is Pfobable and rts amount can be measured reliabty. legacy income is recognised vA)en receipt is probable and enliuemenl is estsblished. in¢ome from donated goods is measure(l al the tsir value of the goods unless this Is impractical lo Measu￿ ￿liablY. in which case Ihe value is derived from the cost lo the donor or the estimated resale value. Donated facilits'es and services are recognised in the accounts when received rf the value can be rehably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised WTth the delivery of the contracted service. This is dassified as unreslncled funds unless there is a conlraclual requirement for il lo be spent on a particular purpose and retumed if unspent. in which case il may be regarded as restricted. Resources oxpond•d Expenditure is recognised on an accnmls basis as a liabilty is incurred. Expenditure includes any VAT which cannot be fully recovered. an(J is classified under headings of the stslemenl of financial aclivrties to which rt relates.. expendrture on raising fund$ 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 p￿vIOuS ￿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