Redeejner Church Nottingham TRUSTEES, REPORT AND FINthCIAL STATEMENTS For the Year EDded 31 December 2023 Charity Number 1184174
Redeemer Church Nottingharn Report of the Trustees for the year ended 31 December 2023 The Tn2slees aTe ple2sed to Present their annual report and financial Statements for the year ended 31 December 2023. The financial statements comply with tlie Chanties Act 2011. tlie Memoranduin and Articles of Associatiort. and Ac¢ouniing and Reporting by Charilies.. Siatement of Recommended Practice applicable to chariiieq preparing their accounis in accordance with the Financial Reporting Standard applicable in ihe UK and Republic oflr¢land IFRS1021. Elder5. Report "Evepvgood andperfecl gijt Isfyom above. toRning domw.from the Faiker ofthe keovenl), ligkis, who does not ¢honge like 5hifiingsh&dows. -JameJ l..J7 OUT first full year in our new home in Beeston has been an encouraging one for u5 as a church family- it has been a year full of growth and chang¢. 2023 our average attendance on Sunday mornings rose fvom 178 ¢0 269. A signifieant part of this growth was due to many people arriving from Hong Kong on the BNO visa scheme. We're thankful to God for Wilsot] Siu and Elaine Lau for the support they have given to thi5 growing area of ministiy. Wi150n ha5 been preaching once a month in Cantonese on the third Sunday ofevery month. During the year we relaunrhed our inidweek 'Com5nunity GTOUPS.. This was a period of change for us, which began with a series of centralised 5essiotJs thinking through what it would mean for us to be gospel centred. growing together, making Christ known. As ihe new groups were launched we were thankful to God for tsUT unity in Christ. On Sunday momings. we have continued to work OUT way through the sLYiptures. There were teachsng series on 2 Peter, Acts, Song of Songs. Habakkuk, the Psalms and Rornans. It has been wonderful to see the building being widely llsed by many diffei'ent groups. From coiineil clcctions to birthday pariies, many people have comc into the Old Towll Hall throughout the year. We J150 continued to hire office space to Safe Families. Cr055Teach and Liv8 Leadership. I)uring the year we continued to venwre into new tninistry areas, with JouTney through Easter lan interactLV¢, muItl-5en50ry walkihrough of the Easter Sloryl and English lan¥uag¢ classes successfully launching. We 2Te grateful to God for the many volunteer5 who res(pur¢e the majority of the ministries of the Church. In October we were delighted to hold our first weddirtg irt our new buildin8 and rejoiced wilh Ant and Jenny Weedon, their friends and families. At the end of the year we grieved the (kath of Liljatt Hemsley. Towards the end of her life Lilian had been one of our most faithful attendallts on Zoom. We grieve in the Sure and certain hope of the resutTection. At the ftr%i and then final member5, meetings of the year we appointed Katheriiie Blllleid and Chris Potts as dea¢ons for Safeguarding and ttLen Lan and G¢nllna Piwcell as deacons for Fa]nilies Ministry. Wc pray that God will continu¢ to equip them Foi works of service. God has continue LO PTovide for us in so many ways, we are thankful most of all for his loving care and the grace he has freely lavished on in u5 Chrisi. Peter Brown Pastor On bchalf of the trustees of Redeemer Church Nottinghatn l. Our Pur o$es and Activit In working towards the objeLtives below, the Trustees have considered the Charity Commission'5 guidance on public ben¢fit and have worked towards niaking Redeemer Church Nottingham as ac¢¢ssible as possible tt> all the community. The Trnstees confimi that they have ¢omplied with their dut1¢5 uiider Section 17(51 of the 2011 Charitie5 Act with regard u) publi¢ benefii.
Redeemer Church Nottlngham Report of the Tru5tee5 for the year ended 31 D¢¢tmber 2023- Colltinued l.a ObJe¢tives The advancement of the Christian faith in accoidance with the basis of faiih PTimarily but not exclusively within Nottillgham and the surrounding neighbourhood. and surh otlier clritable purposes as sliall, in the opinion ofthe Chaiity ttU5te¢s. put into prJ¢tr"ce ihe ChTiStian faith in accordance with the basis of faith, Including but not limited to.. th¢ prevention and reli¢f of need, hardship and sickness; the advancement of cduc2tion,' and the provisitsn of facilities in th¢ interests of s(la[ welf8re for recreation or other leisuTe time occupation of individuals who have need of such facilities by reason of their youth. age infirmity or disability, financial hardship or so¢i41 cirruTll5tances with the object of improving their conditions of life. provided that rhe advancement of such PUTposes must be undertaken in a manner that Ès consistent with the doctrinal distinctives and ethical statements as may be adopted and amended by the Church from time to time in aecordance with the provistorts of the Church handbook. l.b Alm5 Vision." Gospel Celltred, growing together, making Christ known. Mission: Serving God'5 niission of leaching people of all-nations by planting churches. V8lu Seeing th¢ Eospel Affecting everything by iea¢hing the Bible clearly by praying in the Spirit persisiently by serving Christ wholeheartcdly Growlng together In Chrtst by WElcomin8 and being Èceessible to all by caring foT one another by speaking the truth in love Sharing the good news of Je5U5 by blessing our neighbours through gospel demonstraiion by extending Gcxl's kingdom through gospel declaration by discipling people ofall nations to be dis¢ipl¢-makers 2. Achiev ments and Performance 2.4 Slgnlfleartt Activltles during the Year Ongoing delivery of Sunday setvices and associated groups a¢tLVltle5. Our service continues to be available online via Zrn ea¢h week. Our Sundays saw a number of child thanksgiving and adult baptism services throughout the year 2. Th¢ weekly Sunday prayeT meetin8 continues every week. We also ran weekday morning and evening devotional and prayer series in January and October. Midweek community groups helping people follow Je8us in particular aspects of life. 2023 saw the re-launch of the group5 following some central cortlmunity ¥roups sessiuns in the Old Town Hall. D¢veloping ministry and mLS5ion partnership with other churches and organisations in the ¢ity* nation and world. Notably attendan¢e to the Opcn Doors WoTld watch list launch at W¢stmin$ter. 5. Expanded the Safeguarding team witb an increased team and a broader set of policie$.
Redeemer Church NottlnghBm Report of the Trustees for the year ended 31 December 2023 - Colltinued 6. In response to the ¢osi-of-living situation. we opened the buildin8 for Warni Space on Fridays. Various Christian events took place in partner511ip with othe¥ churches.. Nottingham Youth Together. Worship aTtd Witness for Redeemer and wilh CorneTStone Church inembers. 2.b Delivery of Public Benefit Acts of Chnslian worship.. Open to tli¢ public on Sundays at 10..30 with music. singing, praying and pieaching. Up to 350 people meet in the morning. Childr¢n and Youth groups are provided for childiEn O-17 years old. A number of niid-week 8roups are now running in the buildiDg- Redeemer WoLlleLI and Town Hall Tots (for loc familie5 Wltli young children. The Young Adults group meets tnonthly. 3. The building ha$ been 115ed for a number of external events such as a weddjng foi the fiist time. repeat sessions for the Broxtowc Council, and variou5 organisation events su¢h as a regular clera club night on Thursdays, ad-hoc meetings for mission agencies. In September we hosted another Open Day with approximately 6(Kl people attending throughout the day. 4. We have a growing of Canionese speakers in th¢ ¢hur¢h with the PTovision of a 5ennon in Cantonese once month, as well as hosting events such a5 Lunar New Year. To facilitdte iniegrJtion, Redeemer Tan a series of English lessons. 5. At Christmas. we hosted carol serYi¢e$ lillcludin8 one for children), participated in the Beeston Christmas lights switch on in froiit of the Old Town Hall, disiributed ChristnS hanjpers to those ID need through local s¢h(K)Is as well as ran our Christmas Escape. a PLizzlc-Ihemed evening to disrov¢r tl)e meaning of Christmas. In partnership with People International, we Lontinued to support a Christian worker who teaches English and shares the good news overseas. 7. As well a5 hosting the FIEC Leaders lunch in the Old Town Hall, the Redeemer trustees atiend¢d the FIEC conference in Blackpool. 2.c Voluntary Help The ChUh depends on every m¢TnbeT'5 active involvement in the life of the church. Volunteers lead many of the ministries of the church. On Sundays, around 3540 volunt¢eTS are needed to run ¢huJrh services IstewaTding and welcoming. music and iechnieal operaiors, Redeerner Kids tea¢hEf5. providin8 tealcoffee and other responsibilities). 3. During the week. around 20 voluiiteers lead 10 Community groups that usually meet Ir members. homes having the purw)ses of cotnmunity, discipleship. pasioral care and mission. 2.d Charit#ble aetivltles- Material fund ralsirtg Giving to Redeemer 15 a matter for God and tlie believer. The leadership occasionally give guidance on this issue and leaflets are available each Sunday morning. New membership candidates are interviewed by a ChurLh Elder durittg which givin8 js dis¢u55ed. A5 well as giving to the General Fund, appeals aTe Jnade for ¢on¢tibulions to the Building Fund for the purchase and renovation of Beesron Town Hall. SigniFi¢ant funds were raised for thts pmject during 2021. and one-off giving also exceeded expeciaiions through 2022 and 2023. The church has an annual Chrisunas Appe41 for funds to support external organisatioll$15ee note 101. All the Money received is sent out, in¢ludinB the Gift Aided tax reclajmed. No funds arc kept back w cover operating c08ts. No Lqrgets are set for ihe appcal.
Redeemer Church Nottlngknam Report of the Trustees for the year ended 31 December 2023 - Contthued 3. fillanck evle 3.1 General Fund The attached financTal 5tatem¢nts show the current state of affatrs. The Charity had total incoming re50urce5 duTill8 the year of £490,78812022.. £ 467,677). The Charity's gell¢ral reserve fund balance is £325,707 a5 at 31 December 2023. and the surplus for the year totaled £99.976. The restricted fvnd balance held at 31 De¢¢mber 2023 tolald £1,647,555. 3.2 Poll¢y on reserves The church's policy is to maintain 3 mOTaths' cash reserves equivalent to £98.88513 months general costs along with mortgage payments) based on thc 2023 budget {iJiclusivc of £26,337 for mortgage payments which are partially met by restricied cash resejvesl. The unrestricted reserves cash assets at the year-end amount to £325,707. The Trustees have clected to remove th¢ designation of funds. as tlie designated purpos¢ is no longer required. 3J Material furjds in deficit There are iio material ndS in overall deficit. 3.4 Principal funding sources By far the main source of income for ihe church is the gifts of its ¢onwegation. Smaller sum5 of income from members of the Cornerstone Longregation. Bank Interest alld Activities. 3.5 Inve$tments The General Fund is held a¢ross a Barelays Bank current account and a CAF Bank curreni account. The Elders hav¢ no restriction on their iT)VeStment powers subject to the approval of the church. 4. Plan f r Futhrt Perl Old Town Hall Renovation The initial phase of the renovation of the Old Town Hall is now complete, Wlth tlie church now ineeting in the preinises. Futllre phase5 of the work may bc completed. but are considcrably sinaller in scope. Doiiations rcceiwed in late 2023 will be put toward5 the decoration of further rooms and cort)pletion of the baltony in 2024. S. Reference and Administr4tlve details {of the Chartty. its Tnte¢S and Advisors) 5.9 f4ame •f the Org4n55ation Redee]ner Church Nottijjgham. 5.b Charity & Company regi$trntioll numbers Charity Number.. 1184174 5.c Address of prlnclpal office Old Town Hall, 29 Foster Avenue. Beeston. Nottingharn, NG9 1 AE S.d Elders (Tru$tec51Directfjrsl at 31 Detember 2023 Petcr Brown. Pastor Simon Lister Sebastien Bonicel Jarnes Clay Siephen Tilson
Redeemer Church Nfjttingh&m Report of the Tru$tee5 for the yeAr ended 31 December 2023 - Contknued 5.e Senlor Administr8tor Graeine Stephen 5.f Otlter relevant organi58tions or persons Banks.. B#r¢lay5 Bank PLC. Leicester LE87 2BB CAF Bank, 25 kn.ttgs Hill Avenue, King Hill. West Malling, KcnL ME19 4TA Independ¢llt Examiner.. Alexander Butterfield ACA. Haines Watts Nottingham Limited, Chartered Accounlants Cliffe Hill House. 22-26 Nottingham Road, Stapleford, Notlingham. NG9 8AA Solicitor IGen¢ral)-. Edward Connor Soli¢itor5. 10 The Point, Market Harborough, LE16 7QU truc re Governance & Man8 ement 6.4 Cons¢AiutiOII The church was established as a Charitable Incotporated Organi5ation in July 2019 with governing documents of a Constitution and Churcli Handbook. Regi5tr#tion Nujnber 1184174. 6.b Method adopted for recruitment and 9PPOlntment of new Trustees (Elders) All future Trustees aTE to be appointed following.. resolution of the TNstees ie¢ommendin8 a MembeT who tFL¢ets the requirements below- the appmval of the proposed Trustee by a vole of two-thirds of the Members in General Meeting PTesetLt and voting,. and confJm)ation of the rtew Trustee's consent to hold office and assent and consent to the Basis of Faith and the completion by the new Trustee of the necessary pap¢rwort(. The Tnjstees (who are also directors) Shall ¢ODSlSt of not le55 than three (these numbers include Mtnisterls and Assistant Minislerls) meberS who display the characteristics required of the office in l Timothy 3..1-7 and Titus 1..5-9. All Trustees musi be Mb embers. All Trustee5 Tnust subscribe and adhete lo. in belief alld lifestyle, the Basis of Faith. 6.c Polieies & procedures for the induction and training of Trllstees (Eldcrs) New Tnjstees will receive= A copy of the previou5 year's Tnjstees. Report and Financial Statements A copy of the Constitution and Handbook Copies of previou5 Trustecs, mreling minutes A copy of the ¢uTrent year's financial foTeca5t or budget Charity Commission CC3 - The essential trustee.. What you need to know A copy of the Charity Governance Code Copies of all the current up-to-date policies A copy of ihe Risk Register All new Trnstees will be invited io attend the R¢deemer Safeguarding TrainiTbg course (if not already trained) 6.d Organisatlonal Strueture Full. A.f.¥ociaie andjunior A4ember.¥. The church d¢p¢nds on every member's Active involvement in the life of the church. The Church musl hold an AGM and nY hold furtlicr Gcnetal Mcclings during the year lo conduct the affairs of the Church which all Full and Associate iylembers are entitled to attend. An AGM must bc held at Ica8t every 15 months. At an AGM the Membets rec¢iv¢ and approve the accoiints of the Church (which shall be independenily audited) for the previous financial yeaT, receive th¢ Ttustees. reJx)rt ort the Church'g a¢iivitics during the PTec¢ding 12 rnonihs pcnod, appoint auditors for th¢ Cliur¢h (if necessary), discuss and determine any issues of policy or deal with any other busines$ put befor¢ them.
Redeemer Churth Nottffingham Report of the Trustees for the yeAr ended 31 Deeember 2023- CoDtinued Elder.fAip (Tn¥sfee$).' The thurch 15 led by the EldeTS and those setving during the yeaT aT¢ ITSted und¢r Refer¢n¢e and Administrative D¢12ils. They are the only commjttec r¢quiT¢d under the Consiiiuiion 3nd take slrdl¢¥ic decisioiis concerning the organisation. ChtsrLh Secre¢ury (Volunleer).. Simon Lister. As well as responsibility as an Elder. he is responsible for ensuring accurate record keeping and appropriate revi¢w of T15k Management activities. He is rcsponsiblt for ChuTth Business Meelin8S* bul the coordination is led by the Sr AdthiDistrator. ChurLh Treosyrer (VoluFtseer).. Jonathan Green. Responsibl¢ for maintaining the accounts of the Church, Pd processJn8 income and expenditur¢. Pasioi. (Staff).. Pet¢ BTown. As well as responsibility as P&stOT and Eld¢r. he chair5 the Eldership rnectings. He also has pastoral. preM¢hing. servite leading responsibtlities. Minis¢ei' in (Stafj).. Sam Payne 1$ a member of th¢ Redeemer Staff TeJtn, he has pastoral. preaching and service leadxng Te5ponsibilities. He graduated from the Setninary Course at the CTOSSlands Acadeniy during the y¢ar. SeniL>T Adntinijtraior (Stufj).. Gra¢¢ Stephen was apptsinted to thi5 role Jn January 2022. Deacons.. Deacons are responsible foi leading church-wide minisiries. A5 of the end of 2023. the deacons ofthe church were Katherine Bulleid, Kale Caldwell. Katie Clay, Rob Gor(lon. Jonathan Green, Ben Howell-Tliomas, Miriam Knight, Claire Lister, Sam Payne. Chris Potts. Gemma Purcell, lan Purcell. Bethany Udoh and Dav¢ Udoh. 6.e Charity Nehvorks Redeemer Church Nottin8ham i$ an iiidependcnt organisation and is not part of any wider network. 6.f Associated Charitles The church is a member of the Fellowsliip of Independeni Evangelical Churches (FIEC). and the Midlands Gospel Partnership IMGP). Thc ehur¢h actively partners with other like-minded ¢haiiti¢s and has particularly close links with Cornerstone Church Nottingham, having been planted fTOm that church. 6.2 Rlsk MahA ement Th¢ Elders have delegated responsibility for establishing and reviewing a risk iegi5ter to a group comprisin8 of Simon List¢r. Graeme Stephen. and oihei members of the ¢hurch including certain Dea¢ons. This IS then reviewed and approved by the elders. The primary risks identified are.. Abiliry lo meet financial ¢ommitmcnts'. The church has been rnnning independently for a number of year5 and has completed 3 Significant building project and met initial rnnning costs and rising mortga8e costs. Redeemer holds signifi¢an¢ funds and unrestricted incotne has been growing- but the needs of ihechurch requirc further staff appointments in the near tem. Leadership and Succession.. The ¢hurch depends heavily on volunteer leaders, bllt this model has come under pressure with significant growth numbers. There is a need to ensure adequate development of new volunteers to 5UPPOrt church growth and planting in futUTe. Safeguarding.. Abuse of atty kind woiild seriously damage the church and its witnes$ in the ¢ommunity. A safeguarding policy is estAblished in line with thirtyone."eight's latest model and relevant snembers have been Irained in line with this policy. DBS checks are also used as appropriate. Public scandal.. Any legal action by suing or any public scandal would affect the ministry at Redeemer Church Nottingham. All members in lead¢r5hip are ejicouraged to be humble and prayerful but given the vaTied nature and thc potential for fabricatiotLS the 5t response after personal vigilance would be to address issues as they iiribe. An appTaisal process is in place for 8laff. Compliance failure.. volunteers arer¢quired to understand complex requirements across a range of dimensions. Having appointed a Scnior Administrator. the church has greatcr cap2city to help identify any pot¢ntial areJs wherr change tllight be required. Cybersecurity- Technology Sysm$ are integral to certain &rea8 of church life and as 5ueh a cybersecurity incident could lead to loss of data or disruption of ongoing operaiiotJa] a¢tLVltie5.
Redeemer Churth Nottingha Report of the Trnstees for the year ¢nded 31 December 2023 - Contlnued Trnstees, Res nslbilitits in relation to the Fin•Ncial Staternent5 The Trustees are r¢spxJnsible for preparing th¢ Repurt of the Trustees and the Financial Statement5 in accordance with applicable law and United Kingdom Generally Accepted Accountin&T Practice. The law applicable to tharitie5 in England and Wales. the Charities Act 2011. Charity {Account5 and Reports) Re8ulalions 2008 and the provision of the Trust Dccd requiTC the TTUStees to Prepare financial stalcmcnts for each financial year which give a t¢ alld fair vi¢w of the 5tatc of atTairs of the Charity 2nd of th¢ incoming r¢sour¢es and application of r¢sour¢cs, including the income and expenditure of th¢ Charity for the financial ycar. In preparing those financial statements, the Trustees are required to.. Select suitsble a¢countin8 rK>licies and apply them con5j5tently' Observe the meihods and principles in rhe appTopriate cliarities SORP: Make judgements and ¢5timaies that are reasonable and prudcnt: State whether applicable accounting SthndaTds have been followed, subje¢i io any mat¢rial depanures that must be disclosed and explained in the financial statements.. Prepare the financial State¢tS on the going conLern basis unless it is inappropriate to piesurne that the cIltY will continue in operdtion; and The Trustees are responsible forrnaintaining the proper accounting records, which di%clo%e with reasonable accuracy at any tim¢ the financial posstion of the Charity and to enable them to ensure thai the fan¢111 statements comply with the Chariries Aci ?01 l. They are also responsible for safeguarding the assets of the Charity and hence for thking iea&onable steps foT the prevention and detection of fiaud and other irregularities. This report has been prepared in accordan ith the Statement of Recommended Pra¢ti¢e'. Account and Reporting by Charities. SL8ned- Mr Peter Brown (Pastor} . Date R¢deemeT Church Nottingham Old Town Hall 29 Foster Avenue Beestort Nottin8ham NG9 IAE P88e 7
Independent Examiner's Report to the Trustees of Redeemer Church Nottitlgha I repsyt to the trustees on my examination of the accounts of Redeemer ChuKh NottinghaTn for the year ended 31 December 2023. Re5P0115Lbilities and b?$1$ of report As the charity trustees you are responsible for the prtparaiion of the a¢¢ourtts in a¢¢ordance with the requiremertts of the Chariiies Act 2011 {'the Act'l. I report in respect of my examinaiioll of charity accounts CthTied out wider Section 145 of the 2011 Act and iti carrying out my examination I hav¢ followed all the applicdble diie¢tiOll5 givffl by the Charity Commission under Section 145{5)Ib) of the Act. Since the charity's gross income exceeded £250,000 your examiner must be a Fnember ora body 115ted in SeGtion 145 of the 2011 Act. I confjrni that l am qualified to undertake the exatnination because l am a member of the Institute of Ch2rtered A¢couniants in England and Wales. which is one of the listed bodics. Independent Examiner's 5tatem¢nt I have ¢ompleted my examination. I confirni that no material Matte have come to my attention in conrtectiort with the examination giving me cause io believe thai in any material respect.. Accounting records were not kept to respect ofihe charity as required by Section 130 of the Act. or The a¢¢ounts do not accord with those record5,' or The account5 do no¢ comply with the applicable Tequirelnents concerning the form and content of accounts set out in the Charities IAccout)is Mnd Reports) Regulations 21K)8 other than any rcquirernent that the accounts give a'true and fair view, which Is not a tnatter consider¢d as part of an independeni examination. I have Do concetn's and have COME acros5 no other matters in connectL(>ll Wlth the examination to which attention should be drawn in this report in ord¢r to enable a proper undeTStanding of the accounts to be reachd. Mr A Blltierfield ACA Haines Watts Nottingham Limited Cliffe Hill House 22-26 Nottingham Road Stapleford Nottillgham NG9 8AA Dale.. Page 8
Redeemcr Chureh Nottlngham StatemeTht Of Financial Aetivities for the Year Ended 31 December 2023 2023 2022 Unrestrl¢ted Restrlcted Toial Tot¥1 Note5 Donations a[ LegBCi¢5 Other Iiicome Hire Income 347,585 1,710 26J85 114,549 462.134 457.952 1,080 8.285 26,385 Income Chllriioble ALllviti¢s Events Incojne Investment Sncomc 245 314 245 314 207 Total IA¢omt 376 239 114549 490 788 467 677 endlture ErFeiidilure Chariiuble AcÈiviiies Operation of Rcd¢¢mer Church alld deliv¢ry i>f Mission Costs Events Expenditure 238,903 147.864 386.767 317,697 4.045 4,045 4.123 Totsl ExpeTkditure 242.948 147.864 390.812 321.820 Net Income {expen$e$l net movemeRt in funds for the ye*r 10 3J3151 99,976 145857 Transfcr between fvnds (86,4731 86.473 Fund bal¥Trct brought forward t l January 2023 278.889 1,594.397 .873.286 1.727,429 Total fund5 carried forwArd at 31 Deeember 2023 325.707 55 973 262 1873.286 The Statement of Financial Activities includes all g8Lll5 and105se5 in the year. All incomin8 resource5. and resources expended deTive from continuing activities. Page 9
Redeemer Church Nottlnghajn Balance Sheet for the Y¢Ar Ended 31 December 2023 Note 2023 2022 Fixed Assets Tangible Assets 2,587,310 2,592,074 Current A Cash at Bank and in Hand Debtors Stock 223,437 34,696 107 150.939 40.777 258,240 191,716 Current Liabilltlcs Creditors due within olle year {84,471} {77.1711 Net Current A$set5 Total Assets Le55 Current Liabllltles 173,769 2,761,079 114,545 2.706.619 Credltors Amoullts falling due after more than on¢ year (787.8171 (833,333) Net Assets 1,973,262 1,873.286 The Funds of the Chari UnTcstrict¢d Genei'al Designated 10 io 325,707 73.764 205,125 Restricted 10 1.647.555 1.594.397 Total Chgrl Funds 1973 262 1.873.286 The accounts were approyed by :_ Mr P¢t¢r Brow Pastor) Date Mr Jonatlan Gr¢¢n {Treasurer) Date 31?12.It Page 10
Redeemer Church Nottingham Cash Flow Statement as at 31 December 2023 Notes 21123 2022 T4et Cash from Operattng Actlvltles 15 140.351 1,117,649 C8Pitg1 Expenditure gnd Flnancial Instruments. purchase of T&nglble Ffixed Assets 167,853) 11,353.6601 Net Cash Inflow (Ovfflow) 72,498 236,011 Balance of cash brou8ht folward 150,939 386,950 Increas¢ (Decrea) in cash in the year 72,498 1236,011) Net Cash Resources at 31 December 2023 223.437 150.939 Pagell
Redeemer Church Nottlngbam Note5 forming part of the Financial Statement for the Year Ended 31 D¢c¢mb¢r 2023 ACCOUNTtNG POLICIES The prin¢ipal accounting policies are summarised below. The accounting policies have been applied cortsistently throughout the period. BASIS OF PREPARATION The financial statements hav¢ been in accordance with the Accounting and Reporting by Charities; Statement of lie¢ommended Practice applicable to charities pieparing their accounts in accordanct with the Fitsan¢ial Reporting Srandard applicable ill the UK and Republic of Ireland IFRS1021 (effective l January 20191- (Charities SORP IFRS10211. A5set5 and liabilities are injiially recognised at historical c05t or transaction value unless otherwise stated in the relevant accounting policy not¢lsl. R¢deemeT Church NottinghaTn meets thc defjnition of a publlc benefit entity under FRSIO2. The Trustees consider there ar¢ no maierial uncertainties about the charity's ability to continue a5 a 8Oill8 concern. The financial statements are presented in 5terlin81£). FUNDS General Funds- are ndS generated from activities of the church such as book$ralls, events. ouiside preaching. etc. Unrestricted Funds - are general futtds available for use at ihe dIS¢tiOn of the Elders to further the general objectives of the chuTch and which have not been designated for specific putws¢s. They are usually gifts from mejnbers of Ihe congregation and the tax re¢overed on rhose fts. Restri¢ted Funds- are funds tbat Can only be used in accordance with specific restriction5 imposed by the donors or which have beeii raised for particular puryoses with the objects of the church atml the tax recovered on those funds. Th¢ aim and us¢ of each restrict fund is set out in the Notes to the Financial Statements. Designated Fund- this fund may be set aside during the yr by the Elders for a specific pury)05e. INCOMING RESOURCES All incorning resources are included in tli¢ Statement of Financial ActiYitie5 (SOFA) when the church 1$ legally eniitled io the income and the amount can be quantified with reasonable ¢¢rtainty. Collections are rectsgnised when received by or on behalf of the Elders. Planned giving is r¢cognis¢d only when received. Income tax recoverable on Gift Aid donations is recogtjised when the donaiion has been ieeeived. Legaeies are recognised at the earlier Of receipt or at the time the amount can be measured with reasonable certainty. Donated services and facilities are recognised as income when the Charity ha5 control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the Charity of the ttem is probable and that c¢onornic benefit ¢dn be measured reliably. On receipi, dunattyj services and facilities are re¢ognised on the basis ofthe value of the gift to the Charity whirh Ts th¢ amount th¢ ¢hatily would have been willing lo pay to obtain services or facilities of equivaletjt economic benefit on the open k¢t. a cotte5pondin8 amount is then r¢¢ogni5ed IT) eKpellditure the period of r¢¢eipt, where this can be quantifEed. Interest on fvnds held on deposit 15 included when receivable and ihe amount caTh be measured reliably by the ¢haTity', ttLiS IS notmally upon notification of the interest pajd or payable by the bank. Page 12
Redeemer Church Notdllgh# Notes formill8 part of the Fhn&nclg1 Statement ror the Year Ended.11 Derember 2023 RESOURCES EXPENDED Expenditure is included oll 811 accruals ba&is and is recognised when there i$ a legal or consiruciive obligation to pay for expenditure. All Cosis have been directly attributable to onc of ihe funcliortal tai¢gorie5 of SOUrCe used in the SOFA. The Church is not registered for VAT and accordingly cxp¢nditur¢ Is Shown gros5 of irrecoverable V AT. PENSION POLICY The charity operates a defined eontribution pension scheme. Contributions to the scheme are recognised as reSOut$ expended upon payment. The asset5 of the s¢heme are held separately from thos¢ of the charity in an independently administered fund. Contributions payable for the year are shown within the sta*ment of fjnancial activities. DEPRECJATJON Fixed assets and their associated costs have been capitali$ed at cost. The dq>reciatlOD has been reviewed and is ¢alculated so &8 io write off the cost of fixeil as$et5 on the following basis. The cost of the original propety and land before developm¢nt have not been depreciated as it is felt the current V21ue exceeds the ori8inal cost. Propety developinent cost 2°h on cost EquipmenL fixtt]res and fittings C05t 2011/0 straight line DEBTORS Debtors are r¢cognised at the settlement amount owed to the Charity or prepaid. CREDITORS Creditors and provisions are rOgniSed where the Charity has a present obligation resulting from a past event that will probably result in the trnrtsfeT of Thd$ to a third party, and the amount due to settle the obligaiion can be measured or estimated reliably. Creditors and provisions are noTmally recognised at thear settlement amount. FINANCIAL TNSTRUMENTS The ChaTity has fJnan¢ial assets and finaneial liabilities of a kind that qualify a5 basic flnancial instrnments. Basi¢ financial Instrutnents are initially recognised at transaction value and subseouently measured at their settlement value. JUDGEMENT AND KEY SOURCES OF ESTIMATION UNCERTAINTY The prep3fa¢ion of accounts using g¢nerally accepted accounting principle5 rcquires management to mak¢ estimate5 and assumptions that affect the reported amounis of assets and liabilities at the date of the accounts and the reported amounts or revenues and expenses during the reporting period. The key estirnaies and assumption5 Used in th¢ Financial Statements are detailed in the aceountin8 policies. LEASE AGREEMENTS Rentals applicable to operating lease agreeentS where substantially all of the benefits and risks of ownership remain with the lessor are charged agaitLSt profjts on a straight-lin¢ basi5 over the period of the lease. Trustee Remvneritloll #nd Related Party Transaetions No emolumetjts were received by the Tjvstees either in their Capacities as Trnstees or as members of the BoaTd of Trustees { see ote 4). There were no other enioluinents 01 expenses paid io any ot]ier Charity Inisiee. orpersons ¢onnccted with slleh a bwtee directly or indirectly from the funds of the Cliarily or from the property of anybody connected with the Charity. Page 13
Redeemer Church Flottlngham Notes formlng part of the Financial Statement for the Ye&r Ended 31 December 2023 2. DonatlOD4 Gifts and Leg#eie5 (Unrestricted) 2023 2022 General Givirtg and Gift Aid Recoverable Gift Day 226.417 121.168 347.585 214,172 214.172 Donations Gift$ &nd Legaeie5 (Restricted) Buildin8 Fund and Gift Aid Recoverable Christmas Appeal and Gift Aid Recov¢rzbl¢ 83,894 30,655 114,549 227,016 243 780 Total Donatlons 462 134 457.952 3. Total Salaries & Staff Summary 2023 2022 SalaTies Employer's Nl Pension Expenses 97,000 10.485 9.825 1,143 118,453 87,719 9,357 9.266 3.037 109.379 Average Weekly Yumbtr •f Ernploye¢& calculated A$ full tirne equivalent5 Pastoral Staff {No cmployee received r¢muneration of more than £60,000) The number of employees to whom retircment benefits were accruing wa5 as follows.. Defined Contributions Schetne The key InanageTnent personnel of the charity, eornprised the eld¢r- pastor. Peter Brown. The ¢othl key management personnel of the charity were £53.586 {2022.. £52,617). Trust¢es giving in the financial year tolalled £145,699 (2022.. £147,768). Trnstees reimbursement of expens¢s Ill the year iotalled £l.050 (2022.. £NILI 4. Trustee Remuneratioth A trus(ee is remunerated, as peTtnitted in the Memorandum and Articles of Association - thi5 includes salary, pellsiort and expenses. The expenses are incurrcd as a direct result of their wo and in¢lude otTice and travel expenses. 2023 2022 Peter Brown liernuneration {salary and ERS NIC) Pension Expell5es 49,934 3,652 49,080 3.537 3.037 55.654 Page 14
Redeemer ChuTch NottiNgh#m Tr4(btes form5ng part of the Flnanelal Stgtement for the Ye#r Ended 31 December 2023 5. ExpendRture on Charitable Activities 2023 Restricted 2022 Total Unrestrl¢t¢d Total Salaries (Note 31 Overseas Missions (see noie 13) Equipment Building Running Costs IT Subscriptions and Computer Costs Stationery. Ptinting and admin costs Hatdship Fund Miscellaneous Costs Refreshrnents Mcdia Costs Ministy Costs and training Insurance Redeem¢r Kids IdepeDdent Examination fee Bank charges Advertising costs Depreciation Donations- ChTj5tmas Appeal Licence and Affjliation Fees Legal Fees. including bank loan fee Interest on bank loan and chaL"¥es HMRC Interest 118.453 4.800 1,785 62,599 2,765 4,090 3.522 352 1.185 106 6,483 1,372 424 3,150 275 2.057 21,555 118.453 4,8(X) 1,785 62.599 2,765 4,090 3,522 352 109.379 4,000 237 43252 1.952 38 643 93 7,104 8,296 ,992 3,000 106 6,483 1,372 424 3.150 275 2.057 72,617 30.615 2.952 517 66,187 461 386.767 82 66.845 29.107 3214 8.960 26.382 51,062 30,615 2.952 517 66,187 461 238.903 147,864 317.697 5.2 Evcnts Catering Evangelistie Events nditure 382 3.663 4.045 382 3.663 4.045 336 4.123 eratln Profitl Los5 The operating profitl{Ios5) 15 Stated after charging:_ 2023 2022 Llldependeni Examination Fee For otli¢r setvices 3,150 435 3,000 540 6. T8ngible Asset and Depre¢Sation C05t of Property & Land C05t or Property Development Equipmett¢ & Vixtures Tot*1 Cost at 31.12.2022 Additions duTing the year Balanc¢ at end of year 425,000 2,122.096 122.016 24.530 146.546 2.669,112 67,853 2.736 965 425 000 2,165419 rc¢iation Depreciation brought forward at 1.1.2023 Depreciation during the year Baiance at end of year 42.442 43.308 85.750 34.596 29.309 63,905 77,038 72,617 149,655 Net Book Value {NBV)- 2022 Net Book Value {NBV)- 2023 425.000 2,079,654 2,079,669 87.420 82.641 2.592,074 2.587.310 Pfjg¢ 15
Redeemer Church Nottlngham Notes formin8 part of the Financial Statement for the Year Ended 31 December 2023 7. Debtor 2023 2022 Gift Aid Recoverable Prepayments Trade Debtors Other Debtors 26,024 1,653 2,221 4,798 35,805 1.017 3.955 8. Creditor- Due wlthin 12 rnonth5 Trade Crcditors AccrL]al Other Creditors Bank Loan Account 7.953 9.523 3,118 19,065 138 16.301 Creditor5: Amounts f#Uing due after more than l year 2023 2022 Bank PropeTty Loan5 1- 2 years Bank Property Loans 3 -5 yeaTS Bank Property Loans after 5 year5 63.877 191,631 532 309 787,817 62,500 187.500 583 333 833,333 Secured Debts 2023 2022 Bank Loans £875 000 The bank holds security in th¢ forni of a fixed and lloaiin¥ char¥e over the asset of RedeetneT Church. in¢luding th¢ property at Old Town Hall. 29 Foster Avenue. Beeston. Nottinghain. NG9 1 AE. Loan interest is charge at 3 /0 per annum above the base rate and is for a 15 year period. A gllorantec has been pVided by Cornerstone Church, bee note 14. The purchase tsf the property known as the Town Hall Beeston for £425.000 took place in the year erkded 31 Decetnber 2020. Flnanei&l Commltments In Septcmber 2022 the charity commenced a lease for a photo¢opiei at# ¢ost of £1.944 PeT annutn, the lease run5 until Septembet 2027. 9. Analysis of Net Assets behveen funds- 2023 Total unds General Funds 82,641 258.240 (15,1741 RestrRcted Funds 2.504.669 2023 2.587.310 258.240 (84.4711 787 817 1973 262 FiKed Assets Current Assets Current Liabilities Long Tenn LiAbilitie5 Nel Assets at 31.12.23 (69,2971 787,8171 1647 555 325 707 Analysls of Net Assets between fund$- 2022 Total Funds 2022 2,592,074 191,716 177,171) 833 333 1873 286 General Funds 87.420 191.716 (247) Restrlcted Funds 2.504.654 Fixed Assets CuTTent Assets Currellt Liabilities Long T¢rni Liabilities Nei Assets at 31.12.22 176.924) 833 333 1 594,397 278 889 Page 16
Redtemer Church Nottlngbam Note$ forming p8rt of the Fin8nci&I St8tement for the Yur Ended 31 December 2023 10. Restrlcted Funds- 21123 Balance al 31 December 2023 B919nce at 1.1.23 ID¢ome Eipenditurt Trxnsfers Building Fund Christtnas Appeal 1.590,233 4.164 1.594.397 83.894 30.655 114.549 117.249 30.615 147.864 86,473 1.643,351 86,473 1,647 555 Re5tritted Funds- 2022 Balance at 31 December 2022 BalÈnct at Joeome Expendlture Building Fund Christmas Appeal 1,445,928 16,507 1,462,435 227.016 16.764 243 780 82,711 29,107 1,590,233 4.164 1.594.397 Us¢ of Funds Building Fund- To receive monies to aid with the development of the fown Hall Project and associated costs. Monies held at 31 December 2023 tolalled £1.643,35112022.. £1,590,233). Christmas Appeal- To support the work of Hope Nottingham, Hope Into Action IBee5ton) and Open Doors {Syria) and Safe Families. The balanc¢ held at 31 December 2023 wa5 £4.2(W (2022.. £4.164). 11. T2xation The chaTitable company is exernpt frojn CorporationTax on its charitable activitie5. The Elde[5 have reviewed Redeemerchurch Nortingham's a¢tivitie5 and are confjdent ihat they fulfil charitable aims and as such are considered tt> be forthe prii]Vdry purpose. 12. P¢n51on Commktments The charily contributes to 8 defined contribution pension 8cherne. The assets are held and administered by tndividually stlected pension provideTS. The pension eost ¢harg¢ represents conthbutions payable by the ¢hariry io ihe pension s¢h¢me and aTnount5 to £9,82512022.. £9,266). 13. Overse&$ Mls$lOll Monies paid for all overseas worker aTe paid thorough an agency known as People Intthnational. 14. Related Parties Rcdeemer Church Nottijjgham was established in the west of the city using resources of Cornerstone ChurcK both money and people. All monies held were transferred to Redeemer Church Nottingham during a prior financial period. The costs to develop the Town Hall to date are £2.17 million pounds A loan has been obtsined from CAF Bai]k for £875.000 which has been guaranteed by Cornersione Church for thc redevelopmeni of Beeslon Town Hall. There are no other related parties to disclose. Page 17
Redeemer Chureh Trlottlngham Not¢$ forillg part of the Financial Statement for the Year Ended 31 D¢¢¢mb¢r 2023 IS. Cgsh Flow Statement 2023 2022 Net Incorning Resources 99.976 145.857 Adjustsnents'.- Depreciation Chaige5 (Incre3sell Decrease in Debtors (In¢rea5ell Decrease in Stock5 IncreaseJlDecreasel in Creditors 72.617 6,081 11071 66.845 72.154 832 793 140,351 1.117.649 Page 18