OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2024-12-31-accounts

REGISTERED CHARITY NUMBER: 1183581

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

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 2024

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 21
Detailed Statement of Financial Activities 22 to 24

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024

The trustees present their report with the financial statements of the charity for the year ended 31st December 2024. 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 Pastor 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 invitations given out to the general public by regular organised outreaches..

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.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

As a local community church, we have observed significant 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. supporting 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.

Page 1

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024

FINANCIAL REVIEW

Reserves policy

The Church's restricted funds held in reserve for any unforeseen circumstances are adequate. The Trustees are satisfied that these reserves are maintained at an appropriate and satisfactory level. The Trustees have established a policy to maintain unrestricted reserves equivalent to approximately six months of regular operating expenditure. This level is considered sufficient to provide a buffer against unexpected events, fluctuations in income, or urgent capital requirements, while allowing the church to continue its charitable activities without disruption.

The reserves are reviewed annually by the Trustees to ensure they remain appropriate to the charity's size, commitments, and future plans. Any surplus funds beyond the target reserve level are used to further the charitable objectives of the church, including ministry development, world evangelism, outreach, and maintenance of church facilities. Restricted funds are held and applied in accordance with the specific purposes for which they were given.

FUTURE PLANS

We are committed to continuing our investment in the maintenance and repair of the new building we purchased in the previous financial year, 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 2025 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 M Buzzella R Ruddock

Page 2

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024

REFERENCE AND ADMINISTRATIVE DETAILS Auditors

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

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

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).

Charity law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under charity law the trustees must not approve the financial statements unless they are satisfied that they 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 and The Charity (Accounts and Reports) Regulations 2008. 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 30th October 2025 and signed on its behalf by:

Pastor N.J. Brown - 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 2024 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

Cobbin Floyd Ltd is eligible for appointment as auditor of the charity by virtue of its eligibility as auditor of a company under section 1212 of the Companies Act 2006.

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 and Statutory Auditors 15a Station Road Epping Essex CM16 4HG

30th October 2025

Page 7

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024

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
Finance costs
New building costs
Governance costs
Other
Total
NET INCOME/(EXPENDITURE)
Transfers between funds
19
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
2,075,820
-
31,743
27,798
20,537
20,267
68,899
735
2,245,799
14,915
33,525
408,142
40,570
16,646
174,665
48,360
26,232
6,872
4,363
1,011,915
131,639
533,831
62,501
-
2,514,176
(268,377)
373
(268,004)
4,337,183
4,069,179		 Restricted
fund
£
155,906
247,517
-
-
-
-
-
-
403,423
473
-
204,470
38,705
-
-
80,818
-
-
-
40,477
-
-
-
-
364,943
38,480
(373)
38,107
645,330
683,437		 2024
Total
funds
£
2,231,726
247,517
31,743
27,798
20,537
20,267
68,899
735
2,649,222
15,388
33,525
612,612
79,275
16,646
174,665
129,178
26,232
6,872
4,363
1,052,392
131,639
533,831
62,501
-
2,879,119
(229,897)
-
(229,897)
4,982,513
4,752,616		 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
-
757,575
4,224,938
4,982,513

The notes form part of these financial statements

Page 8

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

BALANCE SHEET 31ST DECEMBER 2024

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
£
4,009,551
497,321
1,240,751
1,738,072
(223,826)
1,514,246
5,523,797
(1,454,619)
4,069,178
Restricted
fund
£
10,413
-
673,025
673,025
-
673,025
683,438
-
683,438		 2024

Total
funds
£
4,019,964
497,321
1,913,776
2,411,097
(223,826)
2,187,271
6,207,235
(1,454,619)
4,752,616
4,069,178
683,438
4,752,616		 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

The financial statements were approved by the Board of Trustees and authorised for issue on 30th October 2025 and were signed on its behalf by:

N.J. Brown - 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 2024

Notes
Cash flows from operating activities
Cash generated from operations
1
Finance costs paid
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Rents received
Net cash provided by 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		 2024
£
(160,409)
(123,992)
(284,401)
(41,161)
33,899
35,000
27,738
(67,244)
(67,244)
(323,907)
2,237,683
1,913,776		 2023
£
627,167
(116,633)
510,534
(26,932)
18,336
64,822
56,226
(49,625)
(49,625)
517,135
1,720,548
2,237,683

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 2024

1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net (expenditure)/income for the reporting period (as per the Statement of
Financial Activities)
Adjustments for:
Depreciation charges
Interest received
Finance costs
Rents received
Increase in debtors
Increase/(decrease) in creditors
Net cash (used in)/provided by operations
ANALYSIS OF CHANGES IN NET FUNDS
At 1.1.24
£
Net cash
Cash at bank and in hand
2,237,683
2,237,683
Debt
Debts falling due within 1 year
(166,259)
Debts falling due after 1 year
(1,521,863)
(1,688,122)
Total
**549,561 **		 2024
£
(229,897)
141,580
(33,899)
123,992
(35,000)
(161,785)
34,600
(160,409)
Cash flow
£
(323,907)
(323,907)
-
67,244
67,244
(256,663)		 2023
£
757,575
130,898
(18,336)
116,633
(64,822)
(226,405)
(68,376)
627,167
At 31.12.24
£
1,913,776
1,913,776
(166,259)
(1,454,619)
(1,620,878)
292,898

2. ANALYSIS OF CHANGES IN NET FUNDS

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 2024

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.

Tangible fixed assets

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

Recognition

Tangible fixed assets are recognised when:

Measurement at Initial Recognition

Fixed assets are measured at cost on initial recognition. Cost includes:

Subsequent Measurement

Fixed assets are carried at cost less accumulated depreciation and any accumulated impairment losses. Revaluation is not generally applied unless otherwise stated by the trustees. Where revaluation is adopted, this policy is applied consistently across the relevant asset class.

Impairment

At each reporting date, assets are reviewed to assess whether there is any indication of impairment.

continued...

Page 12

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST DECEMBER 2024

1. ACCOUNTING POLICIES - continued

Tangible fixed assets

If an asset's carrying amount exceeds its recoverable amount, the asset is written down immediately to its recoverable amount, with the impairment loss recognised in the Statement of Financial Activities.

Disposal

Gains or losses on disposal of fixed assets are recognised in the SoFA, being the difference between the net disposal proceeds and the carrying amount of the asset.

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.

2. DONATIONS AND LEGACIES

3.

Donations
Gift aid
INVESTMENT INCOME
Rents received
Deposit account interest		 2024
£
1,959,856
271,870
2,231,726
2024
£
35,000
33,899
68,899		 2023
£
1,704,576
218,160		 2023
£
1,704,576
218,160
1,922,736
2023
£
64,822
18,336
83,158

continued...

Page 13

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST DECEMBER 2024

4. INCOME FROM CHARITABLE ACTIVITIES

INCOME FROM CHARITABLE ACTIVITIES
Activity
Conferences
Conferences
Seminars
Seminars
Mens Discipleship
Mens Discipline
Love Offering
Love offering
Revivals and outreach
Revivals and outreach		 2024
£
247,517
31,743
27,798
20,537
20,267
**347,862 **		 2023
£
205,609
40,792
25,216
20,216
21,770
313,603

5. OTHER INCOME

Other income

2024 2023
£ £
735 635,004

Other income received in 2023, relates to an insurance claim received from Aviva for repairs following roof damage caused by Storm Eunuch in February 2022. The income was allocated to a separate designated fund, as detailed in note 19 of these financial statements.

6. RAISING FUNDS

Raising donations and legacies

Printing and advertising 2024
£
15,388		 2023
£
15,156

7.

CHARITABLE ACTIVITIES COSTS

Church support
Missionary support
Conferences
Seminars
Tithes and offerings
Revivals and outreach
Visiting speakers
Events
Youth group
Support costs
Finance costs
New building costs
Governance costs		 Direct
Costs
£
33,525
612,612
79,275
16,646
174,665
4,388
26,232
6,872
4,363
-
-
-
-
958,578		 Support
costs (see
note 8)
£
-
-
-
-
-
124,790
-
-
-
1,052,392
131,639
533,831
62,501
1,905,153		 Totals
£
33,525
612,612
79,275
16,646
174,665
129,178
26,232
6,872
4,363
1,052,392
131,639
533,831
**62,501 **
**2,863,731 **

continued...

Page 14

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST DECEMBER 2024

8. SUPPORT COSTS

Management
Finance
Other
£
£
£
Revivals and outreach
124,790
-
-
Support costs
1,052,392
-
-
Finance costs
-
131,639
-
New building costs
-
-
533,831
Governance costs
-
-
-
1,177,182
131,639
533,831
AUDITORS' REMUNERATION
Fees payable to the charity's auditors for the audit of the charity's financial
statements
TRUSTEES' REMUNERATION AND BENEFITS
Trustees' salaries
Trustees' social security
Trustees' pensions paid		 Governance
costs
£
-
-
-
-
62,501
62,501
2024
£
7,458
2024
£
88,043
10,895
17,609
116,547		 Totals
£
124,790
1,052,392
131,639
533,831
**62,501 **		 Totals
£
124,790
1,052,392
131,639
533,831
**62,501 **
1,905,153
2023
£
6,780
2023
£
94,055
11,815
16,840
122,710

9. AUDITORS' REMUNERATION

10. TRUSTEES' REMUNERATION AND BENEFITS

Trustees' expenses

There were no trustees' expenses paid for the year ended 31st December 2024 nor 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		 2024
£
295,121
25,509
18,933
339,563
2024
7
1
8		 2023
£
292,252
23,984
16,756
332,992
2023
8
1
9

continued...

Page 15

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2024

11. STAFF COSTS - continued

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

£80,001 - £90,000
£90,001 - £100,000		 2024
1
-
1		 2023
-
1
1

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
Other income
Total
EXPENDITURE ON
Raising funds
Charitable activities
Church support
Missionary support
Conferences
Seminars
Tithes and offerings
Revivals and outreach
Visiting speakers
Events
Youth group
Other
Total
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought 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		 Restricted
fund
£
163,174
205,609
-
-
-
-
-
-
368,783
1,335
-
176,685
39,080
-
-
67,084
-
-
-
52,834
337,018
31,765
613,565		 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

continued...

Page 16

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2024

12.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
funds
fund
£
£
TOTAL FUNDS CARRIED FORWARD
4,337,183
645,330
13.
TANGIBLE FIXED ASSETS
Freehold
Long
property
leasehold
£
£
COST
At 1st January 2024
3,792,200
420,000
Additions
-
-
At 31st December 2024
3,792,200
420,000
DEPRECIATION
At 1st January 2024
243,376
33,600
Charge for year
60,844
8,400
At 31st December 2024
304,220
42,000
NET BOOK VALUE
At 31st December 2024
3,487,980
378,000
At 31st December 2023
3,548,824
386,400
Motor
Computer
vehicles
equipment
£
£
COST
At 1st January 2024
35,961
104,072
Additions
-
38,368
At 31st December 2024
35,961
142,440
DEPRECIATION
At 1st January 2024
18,837
66,194
Charge for year
8,988
45,081
At 31st December 2024
27,825
111,275
NET BOOK VALUE
At 31st December 2024
8,136
31,165
At 31st December 2023
17,124
37,878		 Total
funds
£
4,982,513
Fixtures
and
fittings
£
179,879
2,793
182,672
49,722
18,267
67,989
114,683
130,157
Totals
£
4,532,112
41,161
4,573,273
411,729
141,580
553,309
4,019,964
4,120,383

continued...

Page 17

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2024

14.
DEBTORS
Amounts falling due within one year:
Other debtors
Prepayments and accrued income
Amounts falling due after more than one year:
Other debtors
Aggregate amounts
15.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 17)
Taxation and social security
Other creditors
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		 2024
£
370,594
26,727
397,321
100,000
497,321
2024
£
166,259
6,291
51,276
223,826
2024
£
1,454,619
2024
£
166,259
166,259
1,288,360		 2023
£
320,008
15,528
335,536
-
335,536
2023
£
166,259
-
22,967
189,226
2023
£
1,521,863		 2023
£
320,008
15,528
335,536
-
335,536
2023
£
166,259
-
22,967
189,226
2023
£
166,259
166,259
1,355,604

continued...

Page 18

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST DECEMBER 2024

18. SECURED DEBTS

The following secured debts are included within creditors:

Bank loans 2024
£
1,620,878		 2023
£
1,688,122

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

19. MOVEMENT IN FUNDS

At 1.1.24
£
Unrestricted funds
General fund
3,757,630
Roof repair fund
579,553
4,337,183
Restricted funds
Restricted fund
645,330
TOTAL FUNDS
4,982,513
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Roof repair fund
Restricted funds
Restricted fund
TOTAL FUNDS		 Net
movement
in funds
£
262,771
(531,149)
(268,378)
38,481
(229,897)
Incoming
resources
£
2,245,799
-
2,245,799
403,423
2,649,222		 Transfers
between
funds
£
373
-
373
(373)
-
Resources
expended
£
(1,983,028)
(531,149)
(2,514,177)
(364,942)
**(2,879,119) **		 At
31.12.24
£
4,020,774
48,404
4,069,178
683,438
4,752,616
Movement
in funds
£
262,771
(531,149)
(268,378)
38,481
**(229,897) **

continued...

Page 19

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST DECEMBER 2024

19. MOVEMENT IN FUNDS - continued

Comparatives for 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

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Roof repair fund
Restricted funds
Restricted fund
TOTAL FUNDS		 Incoming
resources
£
1,950,714
635,004
2,585,718
368,783
2,954,501		 Resources
expended
£
(1,804,457)
(55,451)
(1,859,908)
(337,018)
(2,196,926)		 Movement
in funds
£
146,257
579,553
725,810
31,765
757,575

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

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 £23,346 (2023 - £14,364). No trustee is remunerated for their services as a trustee.

continued...

Page 20

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP

UK WALTHAM FOREST CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2024

21. POST BALANCE SHEET EVENTS

During the year the charity made a payment of £100,000 to Potters House Church in Croydon, Surrey in respect of a loan . The loan agreement was not signed until 23rd June 2025, at which point a further £350,000 was lent.

The signed loan agreement is therefore for a total of £450,000 and is for the purchase of a property. It is repayable no later than 5 years from the date of completion of the purchase of the property and interest is payable at a rate of 10% per annum with effect from 23rd June 2025.

The initial payment of £100,000 is classed as other debtors in the financial statements for 2024 as it predates the loan agreement.

Page 21

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024

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		 2024
£
1,959,856
271,870
2,231,726
35,000
33,899
68,899
247,517
31,743
27,798
20,537
20,267
347,862
735
2,649,222
15,388
33,525
612,612
113,057
95,921
4,388
26,232
61,608
4,363
6,872
958,578
88,043
88,043		 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

This page does not form part of the statutory financial statements

Page 22

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024

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		 2024
£
88,043
10,895
17,609
207,078
14,614
18,933
2,522
26,406
29,901
20,625
60,279
8,850
46,356
6,728
59,072
58,064
22,638
20,904
14,687
136,736
1,749
11,248
5,518
119,272
2,036
24,839
60,844
8,400
18,267
8,988
45,081
1,177,182
7,647
123,992
131,639
533,831
7,458
39,165
15,878
62,501		 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

This page does not form part of the statutory financial statements

Page 23

THE POTTERS HOUSE CHRISTIAN FELLOWSHIP UK WALTHAM FOREST CHURCH

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024

DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31ST DECEMBER 2024
Total resources expended
Net (expenditure)/income		 2024
£
2,879,119
**(229,897) **		 2023
£
2,196,926
757,575

This page does not form part of the statutory financial statements

Page 24