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2023-12-31-accounts

REGISTERED CHARITY NUMBER: 1183581

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

Cobbin Floyd Ltd Chartered Accountants 15a Station Road Epping Essex CM16 4HG

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023

Page
Report of the Trustees 1 to 3
Report of the Independent Auditors 4 to 7
Statement of Financial Activities 8
Balance Sheet 9
Cash Flow Statement 10
Notes to the Cash Flow Statement 11
Notes to the Financial Statements 12 to 20
Detailed Statement of Financial Activities 21 to 23

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023

The trustees present their report with the financial statements of the charity for the year ended 31st December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: 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 (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

As a Christian organisation, our aim has been and continues to be the promotion of the Gospel of Jesus Christ. This is done primarily in our local community of Waltham Forest and in adjoining boroughs. The charity endeavours to send and support missionary workers throughout the world. Our aim is to make a positive and lasting contribution to our local community, with greater emphasis on the family unit, our youth, disadvantaged and the elderly. We have been successful in this regard throughout the year by partnering with the Local Authority to tackle knife and gun crime, anti-social behaviour and juvenile delinquency through the use of the gospel as an avenue for rehabilitation. Our youth ministries continue to try and maximise their positive impact and influence upon the young people of our Borough (Waltham Forest) and beyond.

The Charity employs a full time Youth Leader who plays a crucial role in promoting youth outreaches in the community and retains a specific responsibility for spearheading those youth outreaches, which include Gospel concerts, drama productions, football tournaments and street events. Each programme is specifically targeted to meet the needs of all age groups within our local and diverse community.The events are held in conjunction with our regular church services. All organised activities and events are of a non-profit nature and are funded by the church.

In line with our objective to promote the Christian faith through worship and preaching, we hold regular church services and these are promoted by non-discriminatory invitations given out to the general public.

Since the full lifting of pandemic restrictions and a return to normal operating procedures, we have been able to reinstate our usual services and activities. Our regular church services were held at The Potters House, 366 Lea Bridge Road, London E10 7LD on Wednesday nights and Sunday mornings and evenings. Sunday school classes are held on Sunday mornings and the children's church services held on Sunday evenings aim to reach out to local families, catering for ages 4-11. We continue to offer a nursery available from birth to 3 years, which enables parents to take part in every service knowing that their small children are well cared for. A number of young adults and teenagers within the congregation have active roles in all these ministries. DBS checks are carried out on those working with children and we maintain a safeguarding policy.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

As a local community church we have observed a growth in true conversions, visitor numbers, and general attendance. This increase is largely attributable to our strategic outreach initiatives, including Gospel concerts, drama productions, football tournaments, and street events. These programs have effectively engaged our diverse community and strengthened the connection between the church and the local population.

As members of our local neighbourhood, we have for years worked tirelessly for our local borough to try and reach out to our general community and help in any area where possible e.g. support of the charity Heaven Sent, as well as the elderly, disadvantaged, lonely and deprived. We have seen the rewards and positive results from these Christian endeavours.

Bible study groups (home bible groups) are flourishing and continue to be an immense support network for attendees in general and particularly for those facing difficulties. Home group leaders continue to take initiative to have their own local outreaches.

FINANCIAL REVIEW

Monetary review

The stability of the church and the finances has been maintained. We are pleased to note we have seen growth over the period and the church continues to thrive. The church continues to benefit from the generosity and support of its members through their donations. The Trustees are happy with the level of income and the commitment of its members through their regular donations during the pandemic.

Reserves policy

The Charities unrestricted funds held in reserve for any unforeseen circumstances are considered to be adequate. The Trustees of the charity aim to have enough unrestricted reserves to cover two years of expenditure and to cover any unforeseen circumstances. The Trustees are satisfied that these reserves are maintained at an appropriate and satisfactory level.

Page 1

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023

FUTURE PLANS

We are committed to continuing our investment in the maintenance and repair of the new building we purchased in April 2020, alongside our existing building. Ensuring that both facilities are well-maintained is essential to supporting the growth and sustainability of our programs and services, as well as providing a welcoming environment for all who attend.

We will continue to invest funds in planting churches, regular revivals and outreaches. Plans for the remainder of 2024 include further expression in both national and world evangelism. We envision continued church planting locally, regionally and internationally including continued missionary support in line with our objective.

Our continued plan for young people at risk of offending and to influence their life choices towards more positive engagements remains a priority and focus.

It is necessary to reiterate that funding is generated via non-compulsory contributions (weekly offerings/ donations) by members of this church.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The church registered as a Charitable Incorporated Organisation on 24th May 2019 and its objects are to promote the Christian faith. For the furtherance of this aim, regular activities are carried out and invitations given out to the public.

Appointment of the Trustees is governed by the Constitution of the Charity. The current Board of Trustees constitutes five members. The church's pastor (Pastor Nigel Brown) is ex officio the Chair of Trustees, also being responsible for the day to day operation of the charity and management of the staff of the charity on behalf of the Board. Finance is raised from the congregation's contributions and Gift Aid.

The Board of Trustees is authorised to appoint new trustees to fill vacancies through resignation or death of an existing trustee until the following AGM, whereupon congregational members will be invited to confirm the new trustee by vote. The Trustees retain the collective responsibility for major financial decisions and investments with Board meetings being held monthly.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

1183581

Principal address

366 Lea Bridge Road Leyton E10 7LD

Trustees

R H D Humphrey P Sahota Singh Pastor N.J. Brown, Esq. M Buzzella R Ruddock

Auditors

Cobbin Floyd Ltd Chartered Accountants 15a Station Road Epping Essex CM16 4HG

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Page 2

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023

STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial 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, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which 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 Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

............................................................................... Pastor N.J. Brown, Esq. - Trustee

Page 3

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

Opinion

We have audited the financial statements of The Potters House Christian Fellowship UK Waltham Forest Church (the 'charity') for the year ended 31st December 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Page 4

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Page 5

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit.

In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit.

It is, however, the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

In identifying and assessing risks of material misstatement the audit engagement team: - Obtained an understanding of the nature of the industry and sector, including the legal and regulatory framework in which the company operates and how the company is complying with the legal and regulatory framework;

As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are the Charities SORP (FRS 102) and the Charities Act 2022. We performed audit procedures to detect non-compliance which may have a material impact on the financial statements which include reviewing financial statement disclosures.

To identify risks of material misstatement due to fraud we assessed events or conditions that could indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud.

Our risk assessment procedures included:

We communicated the identified fraud risks with the audit team and remained alert to any indications of fraud throughout the audit.

As required by auditing standards, and taking into account our overall knowledge of the control environment, we performed procedures to address the risk of management override of controls, in particular the risk that management may be in a position to make inappropriate accounting entries.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 6

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Cobbin Floyd Ltd Chartered Accountants 15a Station Road Epping Essex CM16 4HG

Date: .............................................

Page 7

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2023

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
4
Conferences
Seminars
Mens Discipline
Love offering
Revivals and outreach
Investment income
3
Other income
5
Total
EXPENDITURE ON
Raising funds
6
Charitable activities
7
Church support
Missionary support
Conferences
Seminars
Tithes and offerings
Revivals and outreach
Visiting speakers
Events
Youth group
Support costs
Total
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
1,759,562
-
40,792
25,216
20,216
21,770
83,158
635,004
2,585,718
13,821
44,686
386,652
47,872
1,816
161,490
68,721
24,150
12,386
5,211
1,093,103
1,859,908
725,810
3,611,373
4,337,183		 Restricted
fund
£
163,174
205,609
-
-
-
-
-
-
368,783
1,335
-
176,685
39,080
-
-
67,084
-
-
-
52,834
337,018
31,765
613,565
645,330		 2023
Total
funds
£
1,922,736
205,609
40,792
25,216
20,216
21,770
83,158
635,004
2,954,501
15,156
44,686
563,337
86,952
1,816
161,490
135,805
24,150
12,386
5,211
1,145,937
2,196,926
757,575
4,224,938
4,982,513		 2022
Total
funds
£
1,728,872
217,985
31,843
19,679
28,513
7,956
70,442
-
2,105,290
11,654
38,770
461,850
73,308
-
154,706
102,570
32,723
5,348
122
910,334
1,791,385
313,905
3,911,033
4,224,938

The notes form part of these financial statements

Page 8

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

BALANCE SHEET 31ST DECEMBER 2023

Notes
FIXED ASSETS
Tangible assets
13
CURRENT ASSETS
Debtors
14
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
15
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS
Amounts falling due after more than one year
16
NET ASSETS
FUNDS
19
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
funds
£
4,118,214
335,536
1,594,522
1,930,058
(189,226)
1,740,832
5,859,046
(1,521,863)
4,337,183
Restricted
fund
£
2,169
-
643,161
643,161
-
643,161
645,330
-
645,330		 2023

Total
funds
£
4,120,383
335,536
2,237,683
2,573,219
(189,226)
2,383,993
6,504,376
(1,521,863)
4,982,513
4,337,183
645,330
4,982,513		 2022
Total
funds
£
4,224,349
109,131
1,720,548
1,829,679
(257,602)
1,572,077
5,796,426
(1,571,488)
4,224,938
3,611,373
613,565
4,224,938

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. N.J. Brown, Esq. - Trustee

The notes form part of these financial statements

Page 9

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP

UK WALTHAM FOREST CHURCH

CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST DECEMBER 2023

Notes
Cash flows from operating activities
Cash generated from operations
1
Finance costs paid
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Rents received
Interest received
Net cash used in investing activities
Cash flows from financing activities
Loan repayments in year
Net cash used in financing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning of
the reporting period
Cash and cash equivalents at the end of the
reporting period		 2023
£
627,167
(116,633)
510,534
(26,932)
64,822
18,336
56,204
(49,625)
(49,625)
517,135
1,720,548
2,237,683		 2022
£
504,536
(62,177)
442,359
(127,444)
70,000
442
(57,002)
(74,762)
(74,762)
310,595
1,409,953
1,720,548

The notes form part of these financial statements

Page 10

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST DECEMBER 2023

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
2023 2022
£ £
Net income for the reporting period (as per the Statement of Financial
Activities) 757,575 313,905
Adjustments for:
Depreciation charges 130,898 93,605
Interest received (18,336) (442)
Rents received (64,822) (70,000)
Finance costs 116,633 62,177
(Increase)/decrease in debtors (226,405) 61,945
(Decrease)/increase in creditors (68,376) 43,346
Net cash provided by operations **627,167 ** 504,536
2. ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS
At 1.1.23 Cash flow At 31.12.23
£ £ £
Net cash
Cash at bank and in hand 1,720,548 517,135 2,237,683
1,720,548 517,135 2,237,683
Debt
Debts falling due within 1 year (166,259) - (166,259)
Debts falling due after 1 year (1,571,488) 49,625 (1,521,863)
(1,737,747) 49,625 (1,688,122)
Total (17,199) 566,760 **549,561 **

The notes form part of these financial statements

Page 11

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: 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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

Income

Voluntary income and donations (including legacies) are included when the church becomes entitled to, probably will receive, and can reliably measure the income. Income from the recovery of tax on gift aided donations is accounted for on an accruals basis. Grant, conference and seminar income is recognised on a receivable basis for both unrestricted and restricted income. Rental income from the letting of church premises and freehold land and buildings is accounted for on an accruals basis. All income is shown gross with any associated costs listed under expenditure.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Property, plant and equipment

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 2% on cost
Long leasehold - 2% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Property, plant and equipment is stated in the financial statements at cost, less any subsequent accumulated depreciation and any recognised impairment loss. Property is not revalued for accounting purposes.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

continued...

Page 12

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP

UK WALTHAM FOREST CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023

2. DONATIONS AND LEGACIES

Donations
Gift aid
3.
INVESTMENT INCOME
Rents received
Deposit account interest
4.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Conferences
Conferences
Seminars
Seminars
Mens Discipleship
Mens Discipline
Love Offering
Love offering
Revivals and outreach
Revivals and outreach
5.
OTHER INCOME
Other income		 2023
£
1,704,576
218,160
1,922,736
2023
£
64,822
18,336
83,158
2023
£
205,609
40,792
25,216
20,216
21,770
313,603
2023
£
**635,004 **		 2022
£
1,591,283
137,589		 2022
£
1,591,283
137,589		 2022
£
1,591,283
137,589
1,728,872
2022
£
70,000
442
70,442
2022
£
217,985
31,843
19,679
28,513
7,956		 2022
£
70,000
442
70,442
305,976
2022
£
-

Other income relates to an insurance claim received from Aviva for repairs following roof damage caused by Storm Eunice in February 2022. The income has been allocated to a separate designated fund, as detailed in note 19 of these financial statements.

continued...

Page 13

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023

6. RAISING FUNDS

Raising donations and legacies

Raising donations and legacies
Printing and advertising
7.
CHARITABLE ACTIVITIES COSTS
Direct
Costs
£
Church support
44,686
Missionary support
563,337
Conferences
86,952
Seminars
1,816
Tithes and offerings
161,490
Revivals and outreach
3,170
Visiting speakers
24,150
Events
12,386
Youth group
5,211
903,198
8.
SUPPORT COSTS
Management
Finance
Other
£
£
£
Other resources expended
976,916
123,077
6,012
Revivals and outreach
132,635
-
-
1,109,551
123,077
6,012
9.
AUDITORS' REMUNERATION
Fees payable to the charity's auditors for the audit of the charity's financial
statements
10.
TRUSTEES' REMUNERATION AND BENEFITS
Trustees' salaries
Trustees' social security
Trustees' pensions paid		 2023
£
15,156
Support
costs (see
note 8)
£
-
-
-
-
-
132,635
-
-
-
132,635
Governance
costs
£
39,932
-
39,932
2023
£
6,780
2023
£
94,055
11,815
16,840
122,710		 2022
£
11,654
Totals
£
44,686
563,337
86,952
1,816
161,490
135,805
24,150
12,386
5,211		 2022
£
11,654
1,035,833
Totals
£
1,145,937
132,635
1,278,572
2022
£
6,420
2022
£
87,624
12,306
14,020
113,950

Trustees' expenses

There were no trustees' expenses paid for the year ended 31st December 2023 nor for the year ended 31st December 2022.

continued...

Page 14

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023

11. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Pastoral and assistance
Administrative		 2023
£
292,252
23,984
16,756
332,992
2023
8
1
9		 2022
£
226,487
19,447
11,839
257,773
2022
6
1
7

No employees received emoluments in excess of £60,000.

Pastor Brown received a gross annual salary of over £60,000. This is disclosed under Trustees remuneration. No other employees received emoluments in excess of £60,000.

12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Conferences
Seminars
Mens Discipline
Love offering
Revivals and outreach
Investment income
Total
EXPENDITURE ON
Raising funds
Charitable activities
Church support
Missionary support
Conferences
Tithes and offerings
Revivals and outreach
Visiting speakers
Events
Youth group
Support costs		 Unrestricted
funds
£
1,557,659
-
31,843
19,679
28,513
7,956
70,442
1,716,092
11,654
38,770
379,421
38,798
154,706
52,182
32,723
5,348
122
879,321		 Restricted
fund
£
171,213
217,985
-
-
-
-
-
389,198
-
-
82,429
34,510
-
50,388
-
-
-
31,013		 Total
funds
£
1,728,872
217,985
31,843
19,679
28,513
7,956
70,442
2,105,290
11,654
38,770
461,850
73,308
154,706
102,570
32,723
5,348
122
910,334

Page 15

continued...

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023

12.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
funds
fund
£
£
Total
1,593,045
198,340
NET INCOME
123,047
190,858
RECONCILIATION OF FUNDS
Total funds brought forward
3,488,326
422,707
TOTAL FUNDS CARRIED FORWARD
3,611,373
613,565
13.
TANGIBLE FIXED ASSETS
Freehold
Long
property
leasehold
£
£
COST
At 1st January 2023
3,792,200
420,000
Additions
-
-
At 31st December 2023
3,792,200
420,000
DEPRECIATION
At 1st January 2023
182,532
25,200
Charge for year
60,844
8,400
At 31st December 2023
243,376
33,600
NET BOOK VALUE
At 31st December 2023
3,548,824
386,400
At 31st December 2022
3,609,668
394,800		 Total
funds
£
1,791,385
313,905
3,911,033
4,224,938
Fixtures
and
fittings
£
169,626
10,253
179,879
31,735
17,987
49,722
130,157
137,891

Page 16

continued...

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023

13. TANGIBLE FIXED ASSETS - continued

COST
At 1st January 2023
Additions
At 31st December 2023
DEPRECIATION
At 1st January 2023
Charge for year
At 31st December 2023
NET BOOK VALUE
At 31st December 2023
At 31st December 2022
14.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
Prepayments
15.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 17)
Taxation and social security
Other creditors		 Motor
vehicles
£
35,961
-
35,961
9,847
8,990
18,837
17,124
26,114
 Computer
equipment
£
87,393
16,679
104,072
31,517
34,677
66,194
37,878
55,876
2023
£
320,008
15,528
335,536
2023
£
166,259
-
22,967
189,226		 Totals
£
4,505,180
**26,932 **		 Totals
£
4,505,180
**26,932 **
4,532,112
280,831
130,898
411,729
4,120,383
4,224,349
2022
£
96,262
12,869
109,131
2022
£
166,259
5,582
85,761
257,602

continued...

Page 17

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023

16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

16.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Bank loans (see note 17)
17.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans
Amounts falling between one and two years:
Bank loans - 1-2 years
Amounts falling due between two and five years:
Bank loans - 2-5 years
18.
SECURED DEBTS
The following secured debts are included within creditors:
Bank loans		 2023
£
1,521,863
2023
£
166,259
166,259
1,355,604
2023
£
1,688,122		 2022
£
1,571,488
2022
£
166,259
166,259
1,405,229
2022
£
1,737,747

The bank loan is secured as a commercial mortgage on the property at 366 Lea Bridge Road, London, E10 7LD.

19. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Roof repair fund
Restricted funds
Restricted fund
TOTAL FUNDS		 At 1.1.23
£
3,611,373
-
3,611,373
613,565
4,224,938		 Net
movement
in funds
£
146,257
579,553
725,810
31,765
757,575		 At
31.12.23
£
3,757,630
579,553
4,337,183
645,330
4,982,513

continued...

Page 18

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023

19. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming
resources
£
Unrestricted funds
General fund
1,950,714
Roof repair fund
635,004
2,585,718
Restricted funds
Restricted fund
368,783
TOTAL FUNDS
2,954,501
Comparatives for movement in funds
At 1.1.22
£
Unrestricted funds
General fund
3,488,326
Restricted funds
Restricted fund
422,707
TOTAL FUNDS
3,911,033
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
1,716,092
Restricted funds
Restricted fund
389,198
TOTAL FUNDS
2,105,290		 Resources
expended
£
(1,804,457)
(55,451)
(1,859,908)
(337,018)
(2,196,926)
Net
movement
in funds
£
123,047
190,858
313,905
Resources
expended
£
(1,593,045)
(198,340)
(1,791,385)		 Movement
in funds
£
146,257
579,553
725,810
31,765
757,575
At
31.12.22
£
3,611,373
613,565
4,224,938
Movement
in funds
£
123,047
190,858
313,905

The church has two restricted funds. Income from both of these sources is treated as restricted : Conference income

Thursday night offerings

continued...

Page 19

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023

20. RELATED PARTY DISCLOSURES

N J Brown receives a salary for his services as a pastor, which is authorised by the charity's constitution. This is disclosed in the accounts under Trustee's Remuneration.

Pastor Brown's wife, who is not a trustee, also receives an annual salary for her work within the charity of £14,364 (2022 - 11,587). No trustee is remunerated for their services as a trustee.

Page 20

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2023

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Gift aid
Investment income
Rents received
Deposit account interest
Charitable activities
Conferences
Seminars
Mens Discipleship
Love Offering
Revivals and outreach
Other income
Other income
Total incoming resources
EXPENDITURE
Raising donations and legacies
Printing and advertising
Charitable activities
Church support
Missionary support
Fellowship tithe
Conference and seminars
Outreach
Visiting speakers
Offerings and world evangelism
Youth group
Events
Support costs
Management
Trustees' salaries
Carried forward		 2023
£
1,704,576
218,160
1,922,736
64,822
18,336
83,158
205,609
40,792
25,216
20,216
21,770
313,603
635,004
2,954,501
15,156
44,686
563,337
102,600
88,768
3,170
24,150
58,890
5,211
12,386
903,198
94,055
94,055		 2022
£
1,591,283
137,589
1,728,872
70,000
442
70,442
217,985
31,843
19,679
28,513
7,956
305,976
-
2,105,290
11,654
38,770
461,850
93,455
73,308
2,343
32,723
61,251
122
5,348
769,170
87,624
87,624

This page does not form part of the statutory financial statements

Page 21

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2023

Management
Brought forward
Trustees' social security
Trustees' pensions paid
Salaries
Social security
Pensions
Building rent and rates
Insurance
Utilities
Telephone
Promotional and hospitality costs
Sundries
Evangelists
Stationery and postage
Building maintenance
Building consultancy fees
Equipment repair and maintenance
Cleaning
Motor vehicle running expenses
Travel and airfares
Books and periodicals
Benevolence
Car hire
Hotels and accommodation
Training
Computer consumables
Freehold property
Long leasehold
Fixtures and fittings
Motor vehicles
Computer equipment
Finance
Bank charges
Mortgage interest payable
Other
New building costs
Governance costs
Auditors' remuneration
Bookkeeping
Legal and professional fees		 2023
£
94,055
11,815
16,840
198,197
12,169
16,756
1,100
19,400
24,311
19,969
40,876
6,146
44,318
3,400
55,043
69,281
11,866
18,899
18,642
125,923
1,994
16,838
6,644
125,991
520
17,660
60,844
8,400
17,987
8,990
34,677
1,109,551
6,444
116,633
123,077
6,012
6,780
31,980
1,172
39,932		 2022
£
87,624
12,306
14,020
138,863
7,141
11,839
7,842
17,035
14,936
19,339
30,182
4,664
12,926
4,658
66,520
-
23,071
16,562
10,597
105,277
1,093
17,181
9,637
90,590
179
11,281
30,844
8,400
16,240
8,990
29,131
828,968
5,720
62,177
67,897
69,790
6,420
31,430
6,056
43,906

This page does not form part of the statutory financial statements

Page 22

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

Total resources expended
Net income		 DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31ST DECEMBER 2023		 2023
£
2,196,926
757,575		 2022
£
1,791,385
313,905

This page does not form part of the statutory financial statements

Page 23