Annual Report and Financial Statements for the Year Ended 31 December 2023
## Centre Church
Charity registration number: 1185070
Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex PO18 8NF
## **CENTRE CHURCH**
## **CONTENTS**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 3|
|Independent Examiner's Report|4|
|Statement of Financial Activities|5|
|Balance Sheet|6|
|Notes to the Financial Statements|7 to 15|
## **CENTRE CHURCH**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Trustees**
Graham Olive (resigned 17 January 2023) Joy Dawes (resigned 17 January 2023) Ruth Stephens Alexander Mason Samantha Harwood (appointed 17 January 2023) Samantha Gentry (appointed 17 January 2023) Guy Harwood (appointed 16 August 2023)
**Charity Registration** 1185070 **Number Principal Office** 180 Leylands Road Burgess Hill West Sussex RH15 8HS **Independent Examiner** G W Schulz FCMA Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex PO18 8NF **Bankers** HSBC 50 Church Road Burgess Hill West Sussex RH15 9AE
Page 1
## **CENTRE CHURCH**
## **TRUSTEES' REPORT**
The Trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2023.
## **Structure, governance and management**
## _**Nature of governing document**_
Centre Church registered as a Charitable Incorporated Organisation (CIO), number 1185070, on 28 August 2019.
## _**Recruitment and appointment of Trustees**_
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the constitution.
## _**Organisational structure**_
The day to day running of the church and all decision-making has been done by the Church Council.
## _**Risk management**_
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
## **Objectives and activities**
## _**Objects and aims**_
The main object is the advancement of the Christian faith.
## _**Public benefit**_
The Trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## **Achievements and performance**
## _**Review of activities**_
In 2023, the church continued with its range of existing services, ministries, and outreaches in the church building. The community café in the church foyer also continued to operate but due to a reduction in volunteer numbers and changes in staff responsibilities opening hours were reduced.
No foreign trips were undertaken for missionary activities during the year.
## **Financial review**
Income for the year amounted to £161,493 (2022: £147,564) and expenditure £103,140 (2022: £127,775), resulting in a surplus of £58,353 (2022: £19,789). This was added to the funds brought forward leaving a fund balance of £236,672 at the year end, of which £223,398 were unrestricted reserves.
Page 2
## **CENTRE CHURCH**
## **TRUSTEES' REPORT (CONTINUED)**
## _**Policy on reserves**_
It is the charity's policy to maintain at least one month's unrestricted reserves in the bank account to cover the essential administrative and general costs.
## **Going concern**
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.
## **Statement of Responsibilities**
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The Trustees 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.
The annual report was approved by the Trustees of the charity on 17 October 2024 and signed on its behalf by:
......................................... Guy Harwood Trustee
Page 3
## **CENTRE CHURCH**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CENTRE CHURCH**
I report to the Trustees on my examination of the accounts of Centre Church for the year ended 31 December 2023.
## **Responsibilities and basis of report**
As the charity Trustees of Centre Church you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Centre Church's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of Centre Church as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
...................................... G W Schulz FCMA Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex PO18 8NF
17 October 2024
Page 4
## **CENTRE CHURCH**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023**
|**Note**
**Unrestricted**
**funds**
**£**
**Income and Endowments from:**
Donations and legacies
2
140,396
Other trading activities
3
7,698
Investment income
4
1,190
Total income
149,284
**Expenditure on:**
Raising funds
5,583
Charitable activities
5
74,171
Total expenditure
79,754
Net
income/(expenditure)
69,530
Transfer between funds
(9,220)
Net movement in funds
60,310
**Reconciliation of funds**
Total funds brought
forward
167,263
Total funds carried
forward
12
227,573|**Restricted**
**funds**
**£**
2,955
9,180
74
12,209
3,304
20,081
23,385
(11,176)
9,220
(1,956)
11,056
9,100|**Total**
**2023**
**£**
143,351
16,878
1,264
161,493
8,887
94,252
103,139
58,354
-
58,354
178,319
236,673|**Total**
**2022**
**£**
131,266
16,265
33|
|---|---|---|---|
||||147,564|
||||10,223
117,552|
||||127,775|
||||19,789
-|
||||19,789
158,530|
||||178,319|
The notes on pages 7 to 15 form an integral part of these financial statements. Page 5
## **CENTRE CHURCH**
## **BALANCE SHEET AS AT 31 DECEMBER 2023**
|**Note**
**Fixed assets**
Tangible assets
8
**Current assets**
Debtors
9
Cash at bank and in hand
**Creditors: Amounts falling due within one year**
10
**Net current assets**
**Net assets**
**Funds of the charity:**
**Restricted income funds**
Restricted funds
**Unrestricted income funds**
Unrestricted funds
**Total funds**
12|**2023**
**£**
115,033
115,033
4,884
117,943
122,827
(1,187)
121,640
236,673
9,100
227,573
236,673|**2022**
**£**
118,336|
|---|---|---|
|||118,336|
|||4,780
56,430|
|||61,210
(1,227)|
|||59,983|
|||178,319|
|||11,056
167,263|
|||178,319|
The financial statements on pages 5 to 15 were approved by the Trustees, and authorised for issue on 17 October 2024 and signed on their behalf by:
......................................... Guy Harwood Trustee
The notes on pages 7 to 15 form an integral part of these financial statements. Page 6
## **CENTRE CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **1 Accounting policies**
## **Statement of compliance**
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
## **Basis of preparation**
Centre Church meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
## **Going concern**
The Trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
## **Income and endowments**
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
## _**Donations and legacies**_
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
## _**Gift aid**_
Incoming resources from tax reclaims are included in the Statement of Financial Activities at the same time as the gift to which they relate.
## _**Interest receivable**_
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 institution with whom the funds are deposited.
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category.
Page 7
## **CENTRE CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)**
## _**Raising funds**_
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **Taxation**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **Tangible fixed assets**
Individual fixed assets costing £500 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
## **Depreciation and amortisation**
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
|**Asset class**|**Depreciation method and rate**|
|---|---|
|Freehold property|2% straight line|
|Equipment|20% straight line|
|Furniture and fixtures|20% straight line|
|Office equipment|33% straight line|
## **Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Page 8
## **CENTRE CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)**
## **Liabilities**
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the Trustees discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
## **Pensions and other post retirement obligations**
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Page 9
## **CENTRE CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)**
## **2 Income from donations and legacies**
|**Unrestricted**
**funds**
**General**
**£**
Donations and legacies;
Donations
115,506
Gift aid reclaimed
24,890
140,396
**3 Income from other trading activities**
**Unrestricted**
**funds**
**General**
**£**
Events income;
Conferences and similar
events
-
Property rental income
1,960
Café 180 income
5,738
Global University fees
-
7,698
**4 Investment income**
**Unrestricted**
**funds**
**General**
**£**
Interest receivable and
similar income;
Interest receivable on
bank deposits
1,190|**Restricted**
**funds**
**£**
2,955
-
2,955
**Restricted**
**funds**
**£**
3,613
-
-
5,567
9,180
**Restricted**
**funds**
**£**
74|**Total**
**2023**
**£**
118,461
24,890
143,351
**Total**
**funds**
**£**
3,613
1,960
5,738
5,567
16,878
**Total**
**2023**
**£**
1,264|**Total**
**2022**
**£**
108,527
22,739|
|---|---|---|---|
||||131,266|
||||**Total**
**2022**
**£**
1,183
1,991
8,103
4,988|
||||16,265|
||||**Total**
**2022**
**£**
33|
Page 10
## **CENTRE CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)**
## **5 Expenditure on charitable activities**
|**Note**
Ministry expenses
Missionary gifts
Gifts and donations
Conference fees and
training
Outreach
Rents and rates
Gas and electricity
Manse
Printing and
stationery
Equipment
Maintenance
Insurance
Telephone and
internet
General expenses
Bank charges
Independent
examination
Depreciation
Staff costs
7|**Unrestricted**
**funds**
**General**
**£**
6,317
-
520
917
3,405
501
5,265
-
2,723
700
3,822
3,084
748
3,985
126
1,440
4,391
36,227
74,171|**Restricted**
**funds**
**£**
3,613
8,495
3,057
-
-
-
-
-
-
-
-
-
-
-
-
-
742
4,174
20,081|**Total**
**2023**
**£**
9,930
8,495
3,577
917
3,405
501
5,265
-
2,723
700
3,822
3,084
748
3,985
126
1,440
5,133
40,401
94,252|**Total**
**2022**
**£**
7,241
22,108
9,093
241
3,175
433
2,926
4,545
3,247
377
2,470
2,622
493
4,673
138
1,440
5,649
46,681|
|---|---|---|---|---|
|||||117,552|
## **6 Trustees remuneration and expenses**
No Trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No Trustees have received any reimbursed expenses or any other benefits from the charity during the year.
Page 11
## **CENTRE CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)**
## **7 Staff costs**
The aggregate payroll costs were as follows:
|**7 Staff costs**
The aggregate payroll costs were as follows:|||
|---|---|---|
|**Staff costs during the year were:**
Wages and salaries
Pension costs|**2023**
**£**
39,523
878
40,401|**2022**
**£**
45,944
737|
|||46,681|
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
|follows:|||||
|---|---|---|---|---|
||**2023**||**2022**||
||**No**||**No**||
|Staff||3||4|
No employee received emoluments of more than £60,000 during the year
Page 12
## **CENTRE CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)**
## **8 Tangible fixed assets**
|**Land and**
**buildings**
**£**
**Furniture**
**and**
**fixtures**
**£**
**Computer**
**equipment**
**£**
**Cost**
At 1 January
2023
139,679
21,004
9,955
Additions
-
1,830
-
At 31
December 2023
139,679
22,834
9,955
**Depreciation**
At 1 January
2023
25,143
19,358
9,955
Charge for the
year
2,794
966
-
At 31
December 2023
27,937
20,324
9,955
**Net book value**
At 31
December 2023
111,742
2,510
-
At 31
December 2022
114,536
1,646
-
**9 Debtors**
Accrued income
Other debtors
**10 Creditors: amounts falling due within one year**
Other creditors
Accruals|**Computer**
**equipment**
**£**
9,955
-||**Equipment**
**£**
16,691
-||**Total**
**£**
187,329
1,830
189,159
68,993
5,133
74,126
115,033
118,336
**2022**
**£**
1,894
2,886|
|---|---|---|---|---|---|
||9,955||16,691|||
||9,955
-||14,537
1,373|||
||9,955||15,910|||
||-||781|||
||-||2,154|||
||||**2023**
**£**
1,641
3,243
4,884
**2023**
**£**
143
1,044
1,187|||
||||||4,780|
||||||**2022**
**£**
183
1,044|
||||||1,227|
Page 13
## **CENTRE CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)**
## **11 Pension and other schemes**
## **Defined contribution pension scheme**
The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £878 (2022 - £737).
Contributions totalling £145 (2022 - £182) were payable to the scheme at the end of the year and are included in creditors.
## **12 Funds**
|**Unrestricted funds**
**_General_**
General funds
**Restricted funds**
Mission fund
Benevolent fund
Special events
Global University
CAP Job Club
Café start-up
**Total funds**|**Balance**
**at 1**
**January**
**2023**
**£**
167,263
-
616
-
8,108
1,590
742
11,056
178,319|**Incoming**
**resources**
**£**
149,284
1,995
960
3,613
5,641
-
-
12,209
161,493|**Resources**
**expended**
**£**
(79,754)
(11,215)
(337)
(3,613)
(7,478)
-
(742)
(23,385)
(103,139)|**Transfers**
**£**
(9,220)
9,220
-
-
-
-
-
9,220
-|**Balance**
**at 31**
**December**
**2023**
**£**
227,573
-
1,239
-
6,271
1,590
-|
|---|---|---|---|---|---|
||||||9,100|
||||||236,673|
Page 14
## **CENTRE CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)**
||**Balance**|**Balance**||||**Balance**|
|---|---|---|---|---|---|---|
||**at 1**|||||**at 31**|
||**January**||**Incoming**|**Resources**||**December**|
||**2022**||**resources**|**expended**|**Transfers**|**2022**|
||**£**||**£**|**£**|**£**|**£**|
|**Unrestricted funds**|||||||
|**_General_**|||||||
|General funds|148,968||131,151|(91,861)|(20,995)|167,263|
|**Restricted funds**|||||||
|Mission fund||-|9,522|(30,517)|20,995|-|
|Benevolent fund||-|720|(104)|-|616|
|Special events||-|1,183|(1,183)|-|-|
|Global University|6,490||4,988|(3,370)|-|8,108|
|CAP Job Club|1,590||-|-|-|1,590|
|Café start-up|1,482||-|(740)|-|742|
||9,562||16,413|(35,914)|20,995|11,056|
|**Total funds**|158,530||147,564|(127,775)|-|178,319|
|**13 Analysis of net **|**assets between **||**funds**||||
|||||||**Total funds**|
||||**Unrestricted**|||**at 31**|
||||**funds**
**Restricted**|||**December**|
||||**General**||**funds**|**2023**|
|||||**£**|**£**|**£**|
|Tangible fixed assets|||115,033||-|115,033|
|Current assets|||113,727||9,100|122,827|
|Current liabilities||||(1,187)|-|(1,187)|
|Total net assets|||227,573||9,100|236,673|
|||||||**Total funds**|
||||**Unrestricted**|||**at 31**|
||||**funds**
**Restricted**|||**December**|
||||**General**||**funds**|**2022**|
|||||**£**|**£**|**£**|
|Tangible fixed assets|||117,594||742|118,336|
|Current assets||||50,896|10,314|61,210|
|Current liabilities||||(1,227)|-|(1,227)|
|Total net assets|||167,263||11,056|178,319|
Page 15