Redeemtr Chtttth NottiThgh4m TRUSTEES, REPORT AND FINANCIAL STATEMENTS For the Yeor Ended 31 Detember 2024 Charity Number 1184174
Redeerner Church Nottillghlm Report ofthe Trustees for the year ended 31 Deeember 2024 The Trustees are pleased to PT¢sent their ann rew)rt and financial statements for ihe year ended 31 December 2024. The rtnaD¢ial statement5 comply with the Charitie5 Act 2011, the ML emorandum and Articles of Associaiion, and A¢UntIng and Reporting by Charities.. Statement of Recommended Pra¢ii¢e applicable to charities preparing th¢ir accounts in accordance with Financial Reporting Standard applicable in ihe UK and Republic of Ireland IFR8102). Elden. Report We are thankful to God for another fruiiful year of miwsty Redeemer Church. li has been etjcourdging io r¢gularty see over 300 peoplejoining with us for worship on Sundays and we dso wel¢omed several pwple into church membership. During 2024 our mwn teaching series have been in Exodus, Acts and Romans. The PTea¢hing of God's word remains ¢en¢rai io our lift together as church and enable5 US to communicate ihe Christian faith to tht many visitors we see w¢ek by week. A particular highlight over the year has Lyen ihe writing of several of OUT own songs that we now sing reEvlarly. This was inspired by a number of our mu$i¢ian5 joining Ih¢'12 song challeDg¢' a collaborative songwriiing community from Resound Worship. Our Sunday evening prayer meeting ha5 also been a source of great encouragement this year as we have lifted the diffcTent ministry areas of Rdeemer and wider conwn5 in our city and world 10 the LoTd. Prayer must coniinue to be th¢ engine room of the ¢hur¢h's life. Our butldin& the Old Town Hall, continues to See good usage during the week and at weekends. In February it was wonderful to elebrate the wedding of Peier and Amelia with their friends and family. in July the General E¢(tiOn also led to a flurry of activity as Broxtowe Council returned to hire the building. Several ienants also continue to use space at the Old Town Ha]1 Saft Famili¢5, Cr05sT¢ach. Living Lead¢rship and Edward ConnoT. Notable work Ound the building included the addition of balcony seating at)d the renovation of ri)om$ abov¢ the auditOTiUTn to provide incr¢a5ed space foT our Childn'S ministry and mid.week rental5. It was a $pe¢ial joy in SeptembeT 10 be able to appoint a part-time children'5 ministry worker, as well as an illtern. to 5UPPOrt the work of Ihe church family. We are grateful for God's provision of Sonja and Sophie who have been a tremendous blessing 10 us all. During the Jear Graeme Sophen's role a150 changed from SetsioT Administrator to 0rationS Manager artd Sam Payne wa5 officially recognised &s Assisiani Pastor. We were also delighted to support a faJnily As they begin their ministry in South Asia and 8rateful to be able 10 supp)rt this work financially and in prayer. In November we had our first Mission Sunday to develop a heart for oveTsea5 mi55ion and bring oppiytunities for short term Mission to ihe Lwdy of the church. We have also been grateful to God for continuing to draw pp[C from diffent naiions to Redeemer, enrichin8 our fellowship and helping us exp¢rienc¢ and learn what il is lo live as a mulli-cllliural body of Christ. We have seen brothers and sisters from Hong Kong get increasingly involved in different asperts of church lifc such as music and community group. As well as the monthly Cantonese 5¢rmon lime. a monihly lellowship time has been Stard in the past y¢aT a5 well to support this ¢ommunity's particular needs at this time. Throughout 2024, the elders eonLinued 10 explore opportunities for futUTe gospel work throu8h the planting and revitali5ation of churchcs. We pray that th¢ Lord would continue 10 give us opporDJnities to fulfil our vision of being gospel centred. growing 108ether and making Christ kt)own. With that in mind. it was wonderful to see a significant number of events during the yeaJ. partio]larly theongoing $u¢¢ess of Journey through Easter and the Com]nunity Fun Day. Christmas also provided several wonderful opp)rtunities to give a reason for the hope thai we have. Towards the end of the year we held the funeral for Hazel Murray wkn had been a metDbeT of the church family since the very beginning. Though we miss Hazel. we are thaTthI thaL in Christ, we have a sure and certain hope of resutTeciiort. We wniinue to s¢¢ that GINJ is able to do more than all we ask or imagine ar give him the glory for all he done. Peter Brown Pastor On behalf of ihe ttustee5 of R¢d¢¢m¢r Church Nottinghwn Page I
Redetrner Chureh Nottingham R¢port of the Tm5tees fortht y¢*r ended 31 Dt¢¢mber2024 OUR PURPOSES AND ACTIVI In working towards the objectives below. the Trustees have ¢on5idered the Charity Commission'5 guidance on public benefjt and have worked towards making Redeern¢T Church Nottingham as CesSible as possible to all the community. The Trustees confirni that they have cotnplied with their duties under Ction 17151 of ihe 2011 CharitE¢s Act with regard to public benefit. 1.4 Objectives The advancetn¢nt of the Christian faith in a¢¢ordanc¢ with the b&8is of faith, primarily, but not exclusively within Nottingham atld the surrounding neighbourhood," and such other Charitable pllrwses as shall. in ihe opinion of the ¢haTity trustees, put into practice th¢ Christian faith in accordance with the basis of faith, inrluding, bui not litnited to.. The prevention and relief of tjeed, hardship and si¢kne55' The advancetnent of educaiion. and The provision of facilitie5 in the iniere51s of social welfare for Tecreation or other leisure time occupation of individua]s who have need of such facilities by reason of their yollih, age infimiity or disability, finan¢ial hardship or social circiiin5tsnces with the objea of improving theiT conditions of lift,. provided that the advancement of such purposes must be utjdertaken in a manneT thAt is consisient with the doctrinal distinctives, and ethical statements ¥ may be adopted and amcnded by the church from time to time in a¢¢ordance with the provisions of the ¢hurch handbook. l.b Aims Vislon: Gospel centred. gwwing tO8etheT, Tnakin8 Christ kTh)wn Mis5iOD'. Serving God's mission of reaching p¢opl¢ of nati0Tr5 by planiing ¢hurches. Values Se¢lng the Gospel #ffefting everything By leaching thc Bible ¢IrIY By praying in Ihe Spirit persistently By Serving Christ wholeheArtedly Crowing together in Christ By welcoming and being ac¢essible to ajl By caring for onc another By speaking ihe truth in love Shfirlng the Good Ntws of Jesus By blessing our nei8hbouT5 through Go$pcl d¢monsirarion By extending God's kingdom though Gospel deGlaTaiion By discipling rthple of all nations to b¢ disciple-maker5 2. ACHIEVEMENT AND PERFORMANCE 2.a Significillt #etfvities durlni the ye2r l. Ongoing delivery of Sunday services and associated group activiii¢s. Our service con¢inu&% to be available online via zoom each week. Our Sundays saw a number of child thanksgiving5 8nd an aduli baptisrn service ihroughoui the year. & well as services that highlighted the work of a nutnber of different Christian organisations. Page 2
Redtethtr Church Nottinghom Report of the Trnstee5 for the year ended 31 D¢¢ember 2024 The weekly Sutlday prayer meeting Continues every week. We also ran a weekday moTtLing and evening devotional and prayer series in January, to focus on the start of a new year. 3. Midweek community groups helping pthiple follow Jesus in parti¢ular a5pec(s of lile. 4. Developing ministry and mi55ion partnerships with other churches and organisarions an the city, nation and world. DuTing the yeaT we employed iwo new members of staff", a part time children's ministry worker, responsible for leading the team ihat teaches and ministers to our many Children. and an illtern, involved in many areas of chuich life and ministry. In an ongtsing reSnSt to the need5 of our community. we ¢ontinued to open the building for Warm Welcome Space on Friday5. 7. Insralled new balcony seating in the churth, raising the ¢ap&ity by 74. 2.b Dtliv¢ry of public benefit Acts of Christian worship.. open to the public ort Sundays ai 10..30 with music, singing, praying and preaching. Up to 350 people meet in the tnorning. Children and youth groups are provided for ¢hildr¢n aged between 0 - 17 years old. 2. A nutnber of midweek groups ¢ontinue to rneet in the building.. Redeemer Women and TowTr Hall Tots IfoT local familics with young childr¢n} The young adults gTOUP meets regularly in the building, and we have started a bi-rnonthly men's breakfast. The Warrn Welcome Space continues to be popular and been expanded to ay¢ar round, weekly eveni. 3. During the year. the building was used for a number of extern3] event5 such &8 a wedding and $0 our first funeral. The building was used by Broxknwe Council foi election counts and foi a forurn for local busine55e5 to atlend. The building ¢ontinues uscd by local organisaiion5, Such as the camera club, and we have hosied mectings held by Nottingham University CU, Global Connections. and the Lawyers Christian F¢lk>wship. In September we h05t¢d another Communiry Open Day with approximately 600 people attending throughout the day. 4. The rturnber of Cantonese speakers in the church continues ¢0 grow and we still offer sermons in Cantonese once month. The Cantonese group a150 meei once a month for prayer and fellowship and we had th¢ pleastsie of hostinB another Lunar New Year eveni. To facilitate integration for Cantoncse speakers, Kedeemer ran several En81i$h eonversalional classes. At Christnjas we hosted Carol seTvIC, participated in the Beeston Chrisimas light switch on ill front ofihe Old Town Hall, distributed Christmas hatnpcrs io those in need through local schoo15, a5 well as iunning our'Es¢ape into Narnia, puzzle themed evening to discover th¢ meaning of ChTisim&s. 6. Redeemer continues io support Christian mi55ionaTy work overseas.. In partnership with People In*Tnttiional we continue to SUPPOrt a Christian worker who teaches English and shar¢s the good news overse45. We alw support a family working in a school in South Asia. in partnership with UFM. 2.c Volum¢#ry Help The church deF¢nds on every metnber's active involvement in the life of Ihe chuich. Volunteers lead many of the ministTLes of the church. 2. On Sundays, around 35 - 40 volunteers are needed lo run church servi¢es (stewarding and welcoming, tnusic technical Opera[1 Eiedeemer Kids teacheTS, providin8 tea and coffee and other responsibilitie51 Page 3
Redeemer ChuTch NottinghAm Report of th¢ Trustees for the year ended 31 Deeember 2024 During the week, arowid 20 volunteers le*J 10 community groups that usually meet in members, homes, having (he purposes of ¢ornrnunity, discipleship, pastoral ¢ate and mission. We also have a team of volunteers who are responsible for Turtning and leading the Warm Wel¢oTne 5pac¢ ¢ath week. l.d Chgritlble #ctivities- msttrr41 fund ralslng Giving to Redeemer 15 a matter for God and the believer. Tk leadership occasionally gives guidance on this issue and leaflets ar¢ available each Sunday moTning. New membership candidates are inTerviewed by a church cldet, duTitsg which givin8 is discussed. As well as regular giving to the general fid we $0 have an annual giving day to raise altiOnal funds for projects and new ministry opportunities. The chur¢h has an annua] Christma5 appeal foi funds to suptK>r¢ externaj or8anisations (see note 101. All Ihe money received is sent out includin8 the gift aided lax recla1[n. No filnds are kept back to wver operating costs. No targets are set for the appcal. FIIYANCIAL REVIEW 3.1 General The atta¢hd financial Skiiernents show the cUrrt stsle of affair5. The charity had total incoming Tesources during the year of £567,69312023.. £49Q.7881 The charity's general serve nd balance is £386,431 as at 31 DecembeT 2024, and the surplus for the year totalled £103.298 The restricted fund balantt held on 3 1 De¢ember 2024 iotslled £1.690.129 3.2 Polley on reserves The thur¢h'5 policy is to maintn 3 months. ¢a5h res¢rves, equivalent to £127,777 (3 tnonths Beneral cosis along with mortgage payments) based Ihe 2025 budget (in¢lu5ive of £27,795 for mortgage payments which are pariially rnel by resiricte(f cash re5¢rvesl. The unT¢5tricted reserves cash assets at ihe year-d amouni to £386.431. The Tru5tee5 have elected 10 remove the designation of funds, as ihe designated purpose i5 tK) longer required 3.3 Mxt¢ri41 funds in defielt There are no maieriaI fimds in overall deficit 3.4 Printipal fundiDg 50ur¢es By far the main source of income for the church is the gifts of its congregation. Smaller sums of income are received from members of the Cornerstone congregation. bank in¢ere5t and activiiies. 3.$ Investments The general fjjnd 1$ held acr055 a Barclays Bank current accont and a CAF bank currenr ac¢ounL The elders hvdve no restri¢iion on their investment wwers subject to the approva] of the chur¢h. Page 4
Redeemer Church Nottingham Report of tht Trn$tees for the year ended 31 De¢¢mb¢r 2024 4. PLANS FOR FUTURE PERIODS In the meltium ietm. future priorities of the church will include.. Th¢ app)intment of a Cantonese ministry worker The appointment of a Church Plantin8 residenl Investigation5 into church planting or church revilalisalion Continued redevelopment of church facilitie5, such as th¢ kitchen Replacement of part ofihe flat Foof above the auditorium 5. REFERENCE AND ADMINISTRATIVE DETAILS (oftht ehaTity, its tru5tets and advl$ors} NAM¢ of the organisation Redeemer Church Noiiillgham Charity rtgistrntlon Duthber Charity number 1184174 Addre55 of prlnclp*l olriee Old Town Hall, 29 Foster Avenue. Beesion, Nottingham. NG9 IAE Trustets {Eld¢rsl at Jl December 2024 Peter Brown. Pastor Simon Li51er Seba$tien Bonicel James Clay Stephen Tilson Samuel Payn¢, Assistant Pastor laptK)inted 01109120241 OperAtions Manager and Church Sttr¢14ry Graeme Stephcn Oth¢r relevant orgAnisatlons or p¢r$on5 Bgnk$ Barclay5 Bank PLC, tEicester. LE87 2BB CAF Bank, 25 Kings Hill AyU¢, Kings Hill, West Malling. Kent. ME19 4TA Kingdotn Bank, Media Hourse. Padge Road, Beeston, Nottingham. NG9 2RS Independent EmIner Mi M Brady FCCA, TC Group, Cliffe Hill House. 22-26 Noiiinghatn Road, Stapleford. Noiiingham. NG9 8AA Solicitors {Gen¢r#ll Edward Connor Solicitors, 10 The Point, Market HarborOU]- LE16 7QU 6. STRUCTURE, GOVERNANCE & MANAGEMENT 6.1 Constitution The church was established as a Charitable Incorporaied Organisation in July 2019 wilh goveTning do¢utnent5 of a constitution and church haodbook. Registration number 1184174. 6.b Method adopted for recruitment Appoltttthent ofneTY Trnstees (Eldtrs) All future Tru$te¢s are io be apwinted following". Pa8e 5
Redeemer Church Nottlnghim Rtport of the Trust¢¢$ for the year ended 31 Detember 21124 A resolution of the Trustres recomtn¢nding a membtt who meets the requirements below., The approvaj of the PTOW>5ed Trustee bv a vote of Iwo.Ihirds of the members in gtnerdl meeting Present and votin8,' atKi Confirmation of the new Trustee's consent 10 hold office and asseni and ¢onsent to the Basis of Faith and the Completion by the new Trustee of the necessary paperwork. The Trustees shall consist of not less than th¢ {Ih¢sc numbers include Minister/s and Assistant Minisierlsl membeT5 who display the characieristj¢$ T¢quired of the offI¢e in l Timothy 3..1-7 and Titlls l-.5.9. All Trustees musi be fftetllbers. All Trusiees must subscribe and adhere to, in belief and lifesty'le, the Basis of Faith. 6.t Politles & proeedure5 for th¢ Induction and tr4ining of Trustees {Elders1 New Trustees will rtIve= A copy of the previous year's Tte¢s, report and Financial Statements A copy of the consliiution and church handLKN)k Copies ofprevious Tnlees, me¢ting minutes A copy of the curtent Y&,5 financial for¢c&8t or budget Charity Commission CC3 - The Essenti Tru5tee.' What you need io know. A copy of the Charity Governance code Copies of all the current up.tfrdate polieies A copy of the risk Tegister All new Trustees will be invitcd to attend the R¢d¢emer Safeguarding Training course lif not already irainedl 6.d 0rg4ni5ational Strutture Full, Associttte andJuntor members.. The church depends on every member'5 active involvement in the life of the chur¢h. The church must hold an AGM and Tnay hold thiher G¢n¢ral Meetings during the year io ¢tsnduct the affaits of the church which all Full and Associate member5 are entitled lo attend. An AGM musi be held at least every 15 monihs. At an AGM. the member5 receive and approve the a¢¢ounts of the church (which shall be independently audiiedl for the previous financial year. rcceive the Trustees, report on the chuTch'5 activities duriDg the preceding 12 month pcriod, appoint auditors for th¢ church lif necessary), discu55 and deiennine any issues of policy or deal with any other business put before them. Eldership (Tnuieetr)., The church is led by the Elders and those serving during the year are listed under reference and administrative d¢tai15. They ar¢ the only committee i¢quired undei the constitution and take strAtcgic decisions ¢oncerning the orgatsisaiion. Church Tre¢FsureT (volunleer)." Jonathan Green. ReSnSible for maintsining the aceounts of the church, and processing income and expenditure. IA ¢hur¢h bookkeeper was employed in January 2025 to process income and expeAditurel. Posror (51afj).. Pete Brown. As well &8 reswiosibility &8 PaSr and Elder. he chairs the Eldership meetit)gs. He also has pastOTa]. preaching, and service leading re$tx)n5ibilities. A5515tani Pafror (slqfj).. Sam Payt)e. As well Rs resrM)nsibility a5 an Elder, he also has pasra], prhing. and setvice leading re5ponsibiliti¢s. OperoiionJ.Vanager (Sluffj.. Graeme Stephen. AS w¢ll as having responsibi12ty for day-itrday opcrationd matters and church managemeni, he also acts as Church secretary, being responsible for ¢nsurin8 accuTate COrd keeping and appropriate review of risk management aetivities. He is also responsible for the ¢lM)rdin&ion of church business meetings. Page 6
Redeemer Chur¢h Nottlnghtth Report of the Trn5tee$ for tht year ended 31 December 2024 DgdcotL¥.' Deacons are r¢snSible for leading chur¢h-wide ministries. As of the end of 2024, the deacons of the church were.. Katherine Bull¢id. Kate Caldwell. Katie Clay) Rob Gordon, Jonathan Green, Ben How¢ll-Thomas, Miriarn Knighi, Clair¢ LL5ter. Chris Potts, Gemma Purcell, lan Purcell. Bethany U(k)h, Dave Udoh. 6.e Charity Networ R¢de¢mer Church Nottingham is an independent or8anisation and is not part of any wider network. 6.f Associated Charities The church is a tnember of the Fellowship of Independent Evangelical Churches {FIEQ and the Midlands Gos[ partttership (MGPI. The church actively partner5 With other like-minded dwities and has panicularly close links with Cornersione Church Nottingham. having been plant¢d from that church. 6.g Risk management The elders have delegated responsibility for establishing and reviewing a risk register to a group ¢orTLpfi5ing of Simon Lister. Graeme Stephen, and other members of the ehur¢h including certain deacons. This is then reviewed and approved by the elders. The priTnary risks identifjed are.. Ability to meet financial tommltmettts.. the Church ha5 been njttning independently for i number of years and has completed a signifjcant building ptoje¢t and met iniital running costs and rising mortgage costs. Redeemer holds significant fund5 and unrestricted income ha5 been growing- Ihe appointtnent of new members of Staff during 2024 ha5 been accounicd for within the budg. Lad¢rshlp #nd 5ucces5ion.' The church dq)ends heavily on volunteer leadeTS. but this model h&5 come under pres$ur¢ with significant growth iti numbers. There is a real need 10 ensuTe adequate development of new volunieers to pport church growth and planting in future. SafeguArding'. Abuse of any kind would seriously damage ihe church and its witness in Ihe Community. A safegu2rding policy is established in line with Thirtyone.'Eight'$ latest model and relevant members have be Irained in line with this wlicy. DBS hecks e also used as appTopriate. Public Scandal.. Any Ic8al action by suing or any public scandal would affect the mirri5try at Redeemer Chur¢h Nottingham. All members in leadership are encouraged to be humble and prayerful but given the varied nature and potentid for fabrications the best rtsp)ttse after personal vigilance would be ¢0 addres5 155ues as th¢y arise. An appTaisal proce&s is in place for all staff. Compllante f#llurt'. volunteer5 are required understand o)mplex requirements across a range of dirnen5ions. Having appoirtted an Opcrations ma[er, the chur¢h ha5 greater capacity io help ideniify atly tK>tentia] ar where change might be Tequired. Cybtrseeurity: Technology Systems aTe integral to certain areas of church life and a5 such. a cybersecurity inciderti could lead to a loss of dataor disruption of ongoing operational aclivilies. Pa8e 7
R¢d¢¢mer Chureh Nottingham Report of the Trustees for tb¢ y¢ar ¢rtd¢d 31 D¢¢¢mber 2024 7. TRUSTEES RESPONSIBILITILS IN RELATION TO THE FINANCIAL STATEMENT The Tru5tee5 art reswnsible for preparing the Report of the Trusiees and the Fin9ClaI Statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. The law applicable ¢0 Charities in England and Wales, the Charities Aci 2011, Charity (Awounis and Repms} Regulaiions 2008 and the provision of th¢ Trust Deed require the Trustees to prepare financial staiemthi for each ye2r which Bive a true and fair view of the State of affairs of the chaTity and of the incoming sOurCeS and application of resources, including the income and expendiillre of the Chariry foT ihe financial year. In Preparing iho8e finan¢ia] siat¢ments, th¢ Trustees ar¢ required w.. Sele¢t suitable accounting Folicies and apply them consistently- Observe the methods and principles in the appropriate charilics SORP., Makejudgment$ and e5tirnate5 that are reasonable and prudent,. State whether applicable 2CCOUtiting standaTds have been followed, subject to any material departures that must b¢ disclosed atld explainwj in the financial staiemenis,. Prepare the financial stai¢m¢nlS on the going concern basis unles5 It i5 Énappropriate to presume that the charity will continue in 0ratiOn. and The TTUStees are resrK)nsible for Tnaintaining the proper accounting records, which disclose with re&8onable accuracy at any lime the financial w5ltion of the charily and to enable them to ensure that the financi 5tat¢ment5 comply with the Charities Act 2011. The). are also resronsible for safeguarding the assets of the charity and hence for 18king reasonable steps for the prevention and dctection offraud and other irregu12rities. This iepoll h&$ been pr¢paTed in ac¢oTdance with the Statement of Recommended Practice.. Accountin8 and Rerting by Charities. SignoJ- Mr Simon Lister {Elder) t4/W RedeemeT Chw¢h Nottingham Old Town Hall 29 Fost¢r Av¢nue Be¢5ton Nottingham NG9 IAE Page 8
lTrdtpend¢nt Examiner's Report to the Trustees of Redeemer Church Nottingham I report to the knjstees on my examination of the accounts of Redeemer Church Nottingham for the year ended 31 December 2024. Responsibilities and basi5 of report As th¢ ¢harity trustees you are responsibl¢ for the preparation of the accounts in accordanee with the requirements of the Charities Act 2011 ('the Ad,). I report in respect of my examination of charity account5 Carri out under Se¢tion 145 of the 2011 Act and in carying out my examination I have followed all the applicable direciion5 given by the Charity Commission under Section 145{5Mb) of the Act. Since the Charity's trross income exceeded £250,000 your examiner must a member of a body listed in Section 145 of the 2011 Act. I confm that l am qualified to undertake the examtnation because l am a member of the Association of Chartered Certified A wountants, which is one of the listed bodies. ldependent Examiner's 518temtnt I have completed my exaTnination. I confirni that no material matters have tome to my attention in connection wilh ihe examination giving me taus¢ to believe that in any material respect.. Accounting records were not kept in respect of the charity as iequired by S¢ction 130 of the A¢t' or The accounts do noi aceord with thos¢ rOrds.. or The accounts do not ctsrnply with the applicable requirements concerning the fonn and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirem¢nt that the accounts give a 'trne and fair view, which is not a matter considered as pan of an independent examination. I have no concerns and have come across no other matters in CO[eCtIon with the examination to which attention should be drawn in this report in order to enable a proper undershdIng of the accounts to be reached. MrMBra TC Group Cliffe Hill House 22-26 Nottingham Road Stapleford Nottingham NG9 8AA Date.. o* Page 9
Redeemer Chureh Nottingham Statement of Finan¢l#l Acttvitits for the YeAr Ettdd 31 December 2024 VDrtStriete Restiicled Totsl Total Noit5 Donations and Le8acie5 Other Incom¢ Hire bjcome 425,943 1,690 34,709 100,205 526,148 1,690 34,7(YJ 462.134 26,385 Ineomefponi ChariMbleA¢iryiiies Ev¢nis Inwme Inve5tmEllt IncoJn¢ 3,585 1.561 3,585 245 314 Totsl Incorne 100 205 567 693 5xp¢Ndithre oh Chariioble Aciivsiies OpEiation of R¢dc¢mcr Chur¢b and delivery of Mission Costs Evenis Exp¢nditure 302,(MJ3 157,375 459.378 386.767 5,017 5.017 4,045 Tot] Expenditllr¢ 307.020 157.375 464.395 Net In¢om¢ Itxp¢nsesl ] ttet thovtmenl in funds for iht ytar 10 160 468 Transfer betbveen fuJ)ds 199,7441 99,744 Fund bIlnce brought fotward
t l J4nu4ry 2024
325,707 1,647,555 1,973,262 1,873286 Totsi fund5 e4rri¢d foN*rd ai 31 Dettmber 2024 690 129 62 The Sraietnent of Financial Actiwilie5 includes all gains and losses in the year. All inconjing resour¢es, atld re80urc¢s eXpded derive from continuing actsvili¢s. P2Ee 10
Redeemer chllh Nottingh# B*l2tt¢¢ Sheet for the Yeir Elldtd 31 De¢¢mber 2024 Note 2024 21123 Fised A55ets Tangible Assets 2,610.086 2.587,310 Current Assets Cash at Bank and in Hand MajoT Works Fund (Cash in Hand- Potl Debtors Sto¢k 321,695 10,000 35.643 223,437 34,696 107 367.338 258,240 Current LiabilltAts Creditors due ii'iihin ont year 183,270) 178.92n Net Current A Tot#l Assets Lts$ Current Ligbllltles 284.068 2.894,154 179313 2,766,623 CredÉtors Amounts falling due after more than one year 1817,594} 1793,361) r4et A 2 076 560 1973 262 The Funds of the Charl Unresiricied Gen¢Tal Designai¢d 10 10 386,431 325.707 Reslricied 10 I,6,129 1,647.555 Total Charl Fu 2 076,560 1973 262 The account5 were approved by :" 15/LlzS Mr Simon Lister IElderl Date Mr Jonaih GTeen (Treasurer) Da Pagell
Redeemer Church Nottingh4m Cash Flow Stattrnent as at 31 December 2024 Not¢5 2024 2023 Net Cish from Operating Activities 15 208,570 140,351 Capital ExpedItre and Financial Instruments, purtha5e of Tangible Fixed A$s¢is {100,3121 {67,8531 Net Cash Inflow (Oufflowl 108258 Ba]an¢e of cash brought forward 223.437 150.939 In¢re4se {DecTease) in cash in the year 108,258 72,498 Ntt Cash R¢source5 at 31 Decembtr 2024 331695 223 437 Page 12
Red¢¢mer Churth Nottingham Note5 forming part of the Financial Statement for the Yeir Ended 31 De¢embtr 2024 ACCOUNTING POLICIES The principal accounting policies are summarised below. a¢¢ounting policies have been applied consistently throughout the period. BASIS OF PREPARATION The financial statements have been in accordance with the Accounting and Reporting by Charities,. Statement of Recommended Practice applicable to charities preparing thcir accounts in accordance with ihe Financial Reporting Standard applicable in the UK and Republi¢ of Ireland IFRS1021 (effeciive l January 20191- (Charities SORP IFRS10211. Assds and liabilities are initially recognised at historical cost or iransaction value unless Otherwise slated in the relevani accounting policy noidsl. Red¢¢mer ChuT¢h Nottingham meets the definition of a public beneflt entity under FRSIO2. The Trustees consider there are no material unceTtaintie5 about the charity's abiliry io continue as a going concern. The financial statements are prtsented in sterling 1£). FUNDS General Funds- are funds generdied ftotn activitie5 of the church su¢h as Lxx)ksta115. events, outside preaching, etc. Unrestri¢ted Fund5- are general funds available for use at the discretion of ihe Elders 10 further the general objectives of the church and which have noi been designated for specific purposes They are usually gift5 from members of ihc conBregation ar the r¢tovered on those gifts. Restricted Funds- are funds that can only be used in ac¢oTdance with Specific restrictions Imposed by the donor5 Qr which have been raised for particulas purw>ses with the obj¢¢ts of the church and the tax recovered on those funds. The aim and use of ea¢h Testricted fund is set out irt the Note5 to the Financial Stalemenls. Desigr)ated Fund- this fund may be set aside during the year by the Elders for a specific purpos& INCOMING RESOURCFS All incoming r¢sourc¢s are included in the Statement of Financial Activities ISOFAI when the Church is legally entitled to the income and the Amount can be quantified with Teasonable certainty. Coll¢¢tions are recognised when received by or on behalf of the Elder5. Planned 8ivittg is rewgnised otlly when received. Income i&x recoverable on Gift Aid donations is Tecognised when the donation has been receiv¢d. Legacies are r¢¢ognised at the earlier of receipt or at the time the arnount can be M¢Ured with re&wnabl¢ certainty. Dmaled services attd fa¢iTrilie5 are recognised as income when the Charity has control over the item, any condilions asw¢iated wilh ihe donated item have been met, the receipt of economic benefjt from the use by the Charity of the ilern is Probable and that cconomic benefit can be measured Teliably. On reccipt, donaTrd service$ and facilities are rognIsed on the basis of the value of the gift to the Charity which is the amouni the charity would have been willing io pay 10 obiain services OT facilities of equivalent economic benefit on the open market., a corresponding amount is then recognised in expenditure in th¢ period of receipt, where d)i$ Can be quantifjed. Inte51 on funds held on dep05Lt is included when Teceivable and the amount can bc measured reliably by the eharity; thi5 IS nomiolly upon notification of the interes¢ paid or yayablc by the bank. Page 13
Redtemer Churth NottlDghm Notes forming pArt of the Fln#n¢lal Stitement for the Year Ended 31 Deeember 2024 RESOURCES EXPENDED Expenditure is included on an accnjals basis and is recognised when there is a legal or ctsTh5tructive obligation to pay for expenditure. All costs have teen directly attr]rable to one of the functional ¢a¢egoTitt of resource used in the SOFA. The Church is not Tegistered for VAT and accordingly exptndibjrc is shown gross otirre£overable VAT. PENSION POLICY The charity operaies a defined contribution pension scheme. Contributions to the 5chem¢ arc rccognised &8 resources expended upon paytnenl. The assets of Ihe scheme are held separately from those of ihe chariry in an independently administered fvnd. Contribution5 pajable for the year ar¢ shown within the siatemeni of financial activitie5. DEPRECIATION Fixed assets and their a550ciated costs have been £apitaJised at cost. The depreciation has revicwed and 15 calculated so &8 to write off the cosi of fixed assets on the following basis. The cost of the original property and land before developruent have not been depreciated it is feli the current WU¢ exceeds the original cost. Property developm¢nt cost 2% on (ost Equipment. fixtures and fitting5 Cost 20% straight line DEBTORS Debtors aTe recognised at the Settlemen¢ amount owed to the Charity or prepaid. CREDITORS Creditors arml PTovisions are recognised where the Chariiy has a present obligation resulting from a pasi eveni ihai will probably result itt T transfer of funds to a third party, Jnd the amount due to settle the obligation can be Jnea5ur¢d or tslimaied reliably. Creditor5 and provisions ore normally recognised ai their $ement aTnount. FINANCIAL INSTRUMENTS The Charity ha5 financial a55ets and financial liabilities of a kitjd thai qualify. as basic finan¢iaJ insiruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their seitlemeni value. JUDGEMENT AND KEY SOURCES OF ESTIMATION VNCERTAINTY The preparation of accounts using geneTaJly accepted accounting prin¢iples r¢quiTe5 management to rnake estimates and a55umption5 that affeci the rewrted atnount5 of assets and Itabiliiies ai the da of the accounts and thc report amtsLts of revenues artd expenses during the reFrf)rtItt8 P¢TlOd. The key estimates and a&%umption5 used in th¢ Financial Statements are detaila in the accounting policies. LEASE AGREEMENTS Rentals applicable to operating I&e agreements where subs¢aNtially all of the benefits and risks of ownership remain with the lessor are ¢haTged against profits on a straight-line basis over the period of the Icase. Trnsttt Remytt¢T#tion and Related Party Tratt$a¢tKknS No emolum¢nis weTe Te¢eived by the Tn]ste¢s either in theiT ¢Apacities as Trustees or &8 memb¢rs of the BoaTd of Trustees ( see note 4}. There were no other emolumenis or exp¢ns¢s paid to any oiher Chariiy trustee, or persons ¢onne¢ttd with such atrust¢e directly or indirectly from the funds of the Charity OT from the propcrly of anybody connected with the ChariLy. Pa8e 14
Rtdttm¢r Church Nottingkam Nott$ formlttg part of the Financial Staternent for the Year Ended 31 Dt£ember 2024 2. Donatloths, Gifts and Legacies IUnre5trattedl 2024 2023 General Giving and Gifi Aid Recoverable Gift Day 329.207 226,417 121 168 347 585 425,943 Donations Glfts 2nd l*gacles (Restricted) Building Fund and Gift Aid Recoverablc Christsna5 Appeal and Gift Aid Recoverable 62,832 37,373 100205 83,894 114,549 Total Donations 526 148 462 134 3. Total Salaries & Stsff Summary 2024 2023 Salaries Employer's Nl Pension Expenses 127,678 10,671 8.059 998 147,406 97,000 10.485 9,825 1.143 118 453 Average Weekly Numb¢r of Empknyee4 talculattd as full tlmt equlvilent$ Staff (No employee re¢eivth remuneration of more than £60,000) The nutnber of employees ro whom Tetiretnent betlefits were accruing w&8 as follow$.' Defined Contributions Scheme The key mana8emeni personnel of the charity. comprised the elder- pastor, operations manager and as5i5tant pa5tOT. The total salaries of the key managetlleni personnel was £107,71312023.' £53.586). Truste¢s giving in the flnancial year totalled £125,36212023.. £145.6991. TNstees reimburs¢ment of expense5 in the year tota]led £1,728 (2023.. £1.0501 4. Trustee Remull¢ratlon A trustee is remunerated, permitted in the Memorandum and Articles of Assttiation - thi$ includes salary, pension and expense5. The expenses are in¢urred 8s a direct resultof their work and inrlude office and travel expcnses. 2024 2023 Aggregate Remuneration (Salary ERS NICI Aggregate Pension Aggregate Expenses 62,520 4,257 49,934 3,652 Page 15
Redeemer Chllreh Nottlngham Notes forming pirt of th¢ Finntial Statemtnt for tht YtAr Ended 31 December 2024 S. Exp¢ndlture on Charitable Aetlvltks 2024 Restricted 2023 Total Vxr¢stri¢ted Totsl 5.1 Core Minist Salaries (Noie 31 Ov¢rsea5 Missions (sec not¢ 13) Equipment- General Equipment- Worship Building Runnin8 Costs IT Subs¢rip¢ions and Computer Q)sts Stationery. Printing and admin costs Hardship Fund Social Justice Miscellaneous Co$is Refreshmenls Media Costs Ministry Costs and training Insurance Rcdetmer Kids Independent Examination fee Bank charges Advertising w5ts Depreciation Donations- Christmas Appeal Litence Affiliation Fees Legal Fees, including bank loan fee Interest on bank lo charges HMRC Interest 147,406 6,178 3,676 2,902 75,070 4,746 3,766 1,174 1,280 882 1,820 147.406 6.178 3,676 2,902 75.070 4,746 3,766 1,174 1280 882 1,820 118.453 4,800 1,785 62,599 2,765 4.090 3,522 352 106 6.483 1,372 424 3.150 275 2,057 72,617 30,615 2.952 517 66,187 461 386 767 11,460 3,077 1,929 2,835 379 1,067 24,791 11,460 3,077 1,929 2,835 379 1,067 77,536 29,240 3,216 14,882 04,646 205 459 378 52,745 29.246 3,216 4.144 10.738 64.646 205 302 003 157375 5.2 Evenis Ex CaieTing Evanselis(ic Events 1.395 1,395 382 3.663 5,017 ¢riti Profitl L055 Th¢ operaiing profitlllossl 15 stated aft¢r charging'.- 2024 2023 Independeni Examination Fee For oih¢r service5 2,835 580 3.150 435 6. Tattglble Asset and DepretiAtion Cost of Property & Lnd Cost of Property Development Equlpmtnt & Fixture5 Total Cost at 31.12.2023 Addition$ during the year BalDmc¢ at end of year 425,000 2.165.419 84,133 2 249.552 146,546 16,179 2,736,965 100312 2 837 277 Depreciation brought forward at 1.1.2024 Depreciation during the year Balance ar end of ye8T 85,750 63,905 149.655 130741 227 191 Net Book Value INBV)- 202J N¢¢ Book Valuc INBVI- 2024 425.000 2 079 669 82.641 2,587,310 2,610 086 Page 16
R¢d¢em¢r Church Nottingham Notes forming part of tht Fin#n¢i¥l Statement for the Year Ended 31 Dtttmbtr 2024 7. DebtOT 2024 2023 Gift Aid Recoverable Prepayments Trade DebtOTS Other Debtors 30.680 ,683 973 2,307 26,024 1,653 2,221 Creditor- Dut wlthin 12 woDth5 Trade Crediiors Arcrual Other Creditor$ Bank Loan Account 35.525 18,012 1,400 28,333 83,270 7,953 9,523 3,118 58,333 78,927 Creditors: Amounts filling dut afttr thor¢ than l y¢4r 2024 2023 Bank Property Loan$ 1- 2 y¢ar5 Bank Property LA>ans 3-5 years Bank Prop¢rty Lnans after 5 y¢ars 28,333 56,666 732,595 817.594 58,333 I 16,666 618362 793 )61 Seeured Debts 2024 2023 Bank Loans 845 927 The bank holds security in the fomi of a fixed and floating charge over the asset of Redeemer Church, including the property at Old Town Hall, 29 Foster Avenue. Beeston, Nottingham, NG9 IAE. Loan interest is charged ai 6.2¥0 per annum and is for a 30 year pe¥iod. The purchase of the property known as the Town Hall Beeston for £425.0 took place in the year ended 31 December 2020. Fln•n¢l#l Commitments In Sepiernber 2022 thechyJity eommenced a lease foT aph0p1eT ata cosiof £1,944 rKr annurn. the lease run5 until September 2027. ADalysls of N¢t A$$ets between funds- 2024 Tot*1 Funds 2024 2.610,086 367,338 183,270} 817.594 2 076 560 Central Funds 74,030 367,338 154,9371 Restritted Fund$ 2,536.036 Fixed Assets Current Assets Current Liabilities Long Terrn Liabilitie5 Nei Assets at 31.12.24 {28,3331 817.594 1690 129 386431 AnAly$ts of Net Assets between fuDd5- 2023 Total Funds 2022 2,587.310 258,240 {84,4711 787.817 1973 262 General Funds 82.641 258240 115.174} Restrltted Fund$ 2,504,669 Fixed Assets Current Assets Current Liabilities Long Term Liabilities Nei Assets at 31.12.23 169,297} 787,81 1,647.555 325.707 Page 17
Redeemer Church Nottlngham Notes formirtg part of the FiNaThtial Statefftent for the Yegr Ended 31 December 2024 10. Restrietsd Funds- 2024 Balance at 31 Deetmber 2024 Bil#n¢e at 1.1.24 Expendlture Transfers Old Town Hall Christma5 Appeal 1,643,351 4,204 1.647.555 62,832 37,373 100,205 128,129 29,246 157,375 99,744 1,677,798 1,690 129 Restrietsd Funds- 2023 Balance at 31 December 2023 BA19noe gt 1.1.23 Ineome Expendlture Transfers Old Town Hall Christmas Appeal 1.590,233 4.164 1,594,397 83,894 30,655 114.549 117.249 86.473 1,643,351 147,864 1,647,555 Use of Funds Old Town Hall- To receive monies io aid with the developrnent o( the Town Hall Piojeei and associated costs. Monies held at 31 December 2024 toialled £1.677,798 (2023.. £1,6A3,351). Christsnas Appeal- To support the work of Hope Nottinghatn, Hope Into Action and Open Doots and Safe Families. The balance held at 31 December 2024 was £12,331 (2023". £4,204). I I. TAxatio The charitable company is exempt from Corporation Tax on its charitsble activities. The Elders have reviewed Redeemerchurch NottinghaTn's activities and are confident that they fijlfil charitable aims and as such are considered to be foT the primary purpose. 12. Pension Commitments The charity contributes to a defined contribution pension scheme. The asseis are held and administered by individually selected pension providers. The p¢nsion ¢osl ¢harge represents contribution5 payable by th¢ ¢hority to ihe pension s¢h¢m¢ and amollnts to £8,05912023. £9.825). 13. OverseA$ Missio Monies paid for an overseas worker are paid thorough an agency known &$ P¢ople Int¢mational. Support is also provid¢d to a mission family ihrough UFM. J4. Rclated Partles Redeemer Church Nottingham was established in the west of the ¢ity using resources of Cornersione Church, both money and people. All monies held were transferred to Redeemer Chur¢h Nottingham during a prior fttjancial period. The cos(s to develop the Town Hall to date less d¢pre¢iation ar¢ £2.12 million pounds. A loan h&$ been obrained from Kingdom Bank for £850,000 for the redevelopment of Beeston Town Hall. The previous CAF Bank mortgage was closed in July 2024. The church supports the work of the wife of one of the Trustees, with fimds paid io Friends International, a mission organisation that works amongst intemaiional students in the UK. tn 2024, the church paid Fl £2.000 for the personal supkx)rt. There are no other related parties to disclose. Pag¢ 18
Red¢¢ther Church Nottingh*m Notes formlng PArt of tht Flngn¢l41 Statethent for the Year Ended 31 December 2024 IS. Cg$h Flow Stst¢mertt 2024 2023 Net Incoming Regour¢es 101,198 99.976 AdjtMents'.- Depreciation Charges IIncrease}l Decrease in Debtors {Increase}I DTease in Siocks Increa5d{Decrea5el in credir5 77,536 1946) 107 72.617 6,081 (107) 208.570 140.351 16. Prtor Ye4r AdJustm¢tst During the Preparation of the finanrial 5totements for the year ended 31 December 2024, it was identified that an error had been madc in the comparative figures for the year ended 31 December 2023. in relation to the classification of the Charity's Ink loan. An amount due after more than one year. was it)corre¢tJy ¢LSIr1ed under Current liabilities rwh¢r than non-curr¢nt liabiliit¢s,' this has been correct per below: As Prtviously Stated Adiugtrnent AS Rtstated Current Liability 84.471 {5,5441 78,927 Non-CuTreni Liability 787.817 5.544 793.361 Page 19