Registered Charlty Number 1185236 sI(r NICKOLAJ DANISH (J4URCH CIO FINANCIAL 5rATEmE[S Period ended 31 DMBER 2024 Phoenix Accountancy and Business Consultary Limited
SI NICKOIA] DANISH CHURCH CIO Charity No: 1185236 Contents to the Financlal Statements For the period ended 31 December 2024 Page Trustees Annual RepK)rt Independent Erdminers, RetX)rt 10 Recelpts and Payments Account 11 ststement of Assets and Liabllitles 12 Notes to the Financlal Statements 13
s NICKOLAJ DANISH (IIURCH CIO Charity No: 1185236 Report of the Board of Tn For the year ended 31 December 2024 The Trustees present their )rt wrth finanaal statements of the Charity for the year ended 3L DecemlEr 2024. Reference and Administrative Details of the Charity, its Trustees and Advisers Skt Nlckolaj Danlsh Church CIO Charl istr 1185236 tin 104 Osborne Street Hull HUI 2PN Trustees" Names of Trustees wtrK) served during the year and Sin the year end were as follows: Hanne Hamilton Dorthe Hostick Merethe Walgate Anette Gould Susanne Gilbert Paul Towle Graham Gilbert Peter Aarosin In en ent Examiner: Rebecca Triffftt MAAT Phcenix Accountancy and Business Consultancy Limited Morfe*s Q)ttage mOdS Yard Walkergate Beverley East Yorkshire HU17 9BY
NICKOLAJ DANISH CHUR(11 CIO arity No: 1185236 Report of the Board of Trustees For the year ended 31 December 2024 nkers: Natwest 34 Klng Edward Street Hull HUI 3SS HSBC Bank PIC 63 Market Pla Beverley East Yorkshire HU17 8AL Stxucture, Governance and Management Govemin tkncument" Skt Nickolaj Danish Church Cto is a registered thaiity govemed by its Consbiution adopted on 09 September 2019. Skt Nickolaj Danish Churth CIO gIstered as a charity on 09 September 2019. If the CIO is wound up the members of the CIO have no liabilty to contsibute to its assets and no personal responsibility for settling Fts debts and liabilities. The first Skt Nikolaj Churth was purchased in 1869 and was the old cha1 'Bethesda' in Osbome Street. In 1871, on May 9th , a new church was consecrated. During the first World War the Sailors were forbidden to go aslK)re, so the church had to come to the Sailor& On May 9th 1941 the church suffered a direct hit by l)ombs, as did the majority of Hull. On May 9th 1954 a new Skt Nikolaj Danish Seamen's Urch was consecrated. This new churth was built on Osborne Street and is the one still used IDday.
Slff NICKOLAJ DANISH CHURCH CIO Charlty No: 1185236 Report of the Board of Trustees For the year ended 31 December 2024 itment The Trustees forni the Churth Council of the chaiity. The members of the Church Council are elted at the Annual General Meeting. Nominations for membership of the Church Q)uncil must received by the Secretsry 14 days before the date of the Annual General Meetiro. The Constitution requires the Church CouKil to be comprised of: l) Not less than 5 ordinary members, eletted at the Annual General Meeting 2) The Church's Pastor 3) A nominee of DSUK 3 of the elected members of the Churth Counal must retire each year in rotstion but may be re-elected. Four Trustees are required to make a quorum. A meeting of the Church Counal is empowered to tske decisions, when It has convened by 7 days written notice and not less than one half of its numbers are present. nisational S ruct Skt Nlckolaj Danlsh Church CIO is managed by the Churth Council who meet regularly a1 are responsible for the proper use of the Church and other property and premises that belong to the urCh, the strategic direction and kx)licy of the charity. Risk Mana ent: produreS are in pla It) ensure Complian with health and safety of staff, volunteers, se1 u*rs and visitr)rs to the Centre. i• All prdureS are periodically leWed to ensure that they continue to meet the needs of the charity.
sicr NICKOIAJ DANISH CHURCII CIO Charty No: 1185236 Report of the Board of Trustees For the year ended 31 December 2024 Objectives and Activities for Public Benefft As set out in the Memorandum of AssoLiation. the aris objects are: l) To advance the Chdstian faith for the benefft of the public by the holding of prnyer meetings and ceremonies conducted accordlro to the rUS of the Danlsh National Church. 2) To promote for the inhabitants of Hull and the East Riding of Yorkshire, the provislon of facilities for educaUon, recreation or other leisure time occupation of irKINiduals who have need of such frdcilities by reason of their youth, age, infirnity or disablement, financial hardship or social or economic circumtsnces or for the public at large in the interests of social welfare and with the object of improving the corKdition of life of the said inhabitants Maln ear.. In developlng the main objectives for the ft)Ilowing year the Trustees have given regard to the Charity Commission guidan on public benefiL Our main objectives for the following year are: l) Contlnue to develop the thurch's network of cortacts with charitable Organ1"0nS active within the I(al and wider Hull community. 2) Sustaln the relationship wlth DSUK and fellow Danish churches based In the UK 3) Continue to develop and deepen the Nordic House brdnd prinapally by rdising the profile of the Church's facililies among Hull-based organlsations and by promoting activiti'es with a Scandinavian aspect 4) Upgrade the Church premises to improve accessibilty and attracbveness to potenb'al users and to reinforce the Nordic House brand 5) Build on the recent success of the Annual Christmas market b)th to sustain the Church's connections with the ex-patriate Danish and bro&Jer Scandinavian communities 6) Continue work to secure financial breakeven within a twtr-year timeframe with particular emphasis on improwng income generation through appropriate and more intensive use of the Church's lettable facilities 7) Continue to att as a spiritual and culturdl centre for the Church's membets. Achievements and Perfornwnce The CIO fulfilled its obligations to provide regular churd) services and a f(Kus for the local and broader UK-based Scandinavian communibes. The planned tharoes to the annual Christsnas market were carried out successfvlty. These thanges improved gross income generation. Income generation also tknefited from growth in rentsl income, car-parking fees and space letting.
si(r NICKOLAJ DANISH CHUR(11 CIO (Jarity No: 1185236 Report of the Board of Trustees For the year ended 31 December 2024 Achievements and Perf0mnCe (Con t) As in prewous years, church services were he to mark the New Year, Easter a1 the 70th annlversary of the opening of the current churth buildirTJ. The Harvest and Chrlstrnas servlces were also well-attended. The traditional mid-summer and Hst events were again popular. There was a go tumout for the AGM and lunch in April and for the Church's Jubilee event In May. Lurthes in SeptemtrEr and in October after the Harvest festival Servi also attracted good support. In August the Church was reprented at the DSUK meeting in Denmark and took part in The Herftage Open Day event in September. The Annual Chrfstsnas Market held in November proved, On again, to be extremely popular, drawing support b)th from the I1 communty and the wider region. Including sales from the mini-market, totsl Christsnas income was 14% up on the previous year. Most encouragingly, adjusted net income rose by over 300 %, benefitttng from a combination of improved stock control, more efficient IxJyiThJ and better pricing. Particularly strong sales increases were in the Grry arrfl Cafeteria outlets. Flnancial Review During the year the CIO re(x)rded income of £59.7k. ckn an equivalent basis, an increase of 270/0 over the previous year driven principally by higher sale5 during the Christmas period and increa in rentsl Income (car parking, room hire & property rent). Conversely, lower outlays on the Christmas market, rentsl pmperty and rr meant that total expenditure was snIfICant1Y lower than in the previous year and helped to limit the overall shortfall to £5.6k. This result was a marked improvement when compared with the previous yearfs loss (£24k) and ggeStS that the obpctsve of reaching breakeven in the near temi is on trac*. The yearfs cash outhow reduced the Charivs (ash balances to £45.6k but there was a pleasing reduction in the value of outslBnding items at the year end. The tnsfer of the investments previously held by Skt Nikolaj Danish Searnen's church, were legally transferred over on the 7th January 2025 valued at £44,793. The Church is still exing to secure financial self-suffiaety wthin the next 12 to 18 months. In the Interirn we consider the value of cash balances and invesbnents to I more than sufficient to mt any furtfEr shortfall in income.
SKT NIQ(OLAJ DANISH CHURaq CIO Charity No: 1185236 Report of the Board of Truste&s For the year ended 31 December 2024 Reserves Policy It is the generdl polry of the charity to maintaln unrestrltted funds, lch are the free reserves of the charity. Any surtAus wlll be retained in the unrestritted furKI to support future running costs. Plans for Future periods To sustain the Church'5 (zpaaty to provide for divine Ser1 according to the traditions of the Danish Church. The church will continue to fund its own future pastoral provision as well as developing cultural activities designed to forge a link between the Church and the wider communlty. The Church's strategy, staffing arrangements and financial planning reflect this objettive. In developing its plans, the Church has sought to ensure that the commrtment to securing additional income is complementsry to the Church's primary objective of seNing the needs of its congregation whilst promoting and sustaining aWarentr arKI understanding of Scandinavian religious and ajltural trdditions. Trustees Responsibilities The Charities Act requires the trustees to prepare financial statements for each finanaal year. In accordan wEth the Charity Commission Guida[ the Trustee5 have elected to ppare the accounts on the ReIpts and Payments basis. This is an acceptable format for all non-company drItieS with an income trElow £250,(0. The trustees are resFM)nsible for keeping proper accounllng rrdS which disclose wlth reasonable accurBCy at any time the financial Ixjsltion of the tharity and to enable them to ensure that the financial statements comply with the Charlties Att 2011. The trustees are also responslble for safeguarding the assets of the charity and hen for tsking reasonable steps for the prevention and detection of fraud and other irregularities.
sKr NICKOLAJ DANISH CHURCH CIO Charity No: 1185236 Report of the Board of Trustees For the year ended 31 December 2024 Statement of disclosure of information to Independent Examiner The Charity has an income betw*n £25,000 and £lm and therefore falls under the Independent Examination regime. We, the Trustees of the Charity who held office at the date of approval of these financial statements, each confirm so far as we are aware, that: there is no relevant information of which the Charity's Independent Examiner is unaware; and l) we have taken all the steps that we ought to have tsken as Trustees in order to make ourselves aware of any relevant information and to establish that the Charity's Independent Examiner is aware of that information. Independent Examiner A re501ution to reappoint Independent Examiner, Rebecca Triffitt of Phoenix Accountancy and Busine Con5ultsncy Limited will be proposed at the forthcoming annual general meeting. Board Graham Gilbert Trustee Date:
si(r Nl(JOLAJ DANISH CHURCH CIO Charity No: 1185236 Independent Examinerfs Report to the Members of Skt Nickolaj Danish Church CIO report on the accounts of Skt Nickolaj Danish Church CIO for the period ended 31 December 2024, which are set out on pa I I to 14. Respective responsibilities of trustees and examiner The charivs trustees are responsible ft)r the preparation of the accounts. The charlty's trustees consider that an audit is not required for this perilxl under section 144 of the Charities Att 2011 (the Charities Act) and that an independent examlnation is needed. It is my SponsIbl11ty to: examine the accounts under settion 145 of the Charities Act; to ft)Ilow the procedures laid down in the Generdl Directions given by the Charity Commissioners under section 145 (5)(b) of the thartiies Act. and to stste whether particular matter5 have come to my attenljiin. Basis of independent examinerfs report My examination was orried out in accordance with the Generdl Directions given by the Charity Commission. An examination indudes a review of the acaxjnting records kept by the thaiity and a comparison of the accounts Pnted with those records. It also includes consideration of any unusual items or disdosures in the accounts, and seeking explanations from the trustees conmIng any suth matters. The procedures undertaken do not provide all the eVIden that would be required in an audiL and consequently no opinion is given as to whether the accounts present a Irue and fairf view and the port Is limited to those matters set out in the statement below. Independent examinerfs statemert I have completed my examination. I confimi that no material matters have come to my attention (other than that disclosed bdow .) in connecb'on with the examination which gives me cause to believe that In, any material restEtt: accounting records were not kept In accordance wrfch section 130 of the Att or the accounts do not accord with the accounting records I have no cOnmS atKI have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to LE reached. Rebecca Triffitt MAAT PrnctI Accountant Phoenix Accountsnry and Business Q)nsultarKy Limited Morley'$ Cottage, mortes Yard Walkergate, Beverley, HU17 9BY Date: I lE1a£ io
sicr NICKOLAJ DANISH CHURCH CIO Charity No: 1185236 Receipts and Payments Account For the period ended 31 December 2024 2024 2024 2024 Totsl Fund9 2023 2023 2023 Totsl FuDd$ L)on3tions & Glft Ad Sales 1,692 2,416 21,764 1,087 2,n8 16.045 623 295 1,692 2,416 21,764 1,087 2,718 16,045 623 295 511 3,158 24.762 2.345 6,280 17,7 1,108 325 453 3,158 24,762 2,345 6,280 17,71J) 1,108 325 453 Mark& Sat&s Parknng Rocm Hi Hat Rent other F Suiurrikknns Interest DCF Events 511 59ffi6 47.151 47,151 PAYMEpirs 27,028 27,028 13,983 2.351 4,161 25,987 19,526 25,987 19,526 Christmas Ma other Events & tljrth Utilrfcies Q)sts Teleph(ms, PtintirvJ and ststionery Travelllng and EntertaInert Marketing & AdveSir Lnsuran 2,351 4,161 3,416 3,416 1,358 1.169 1.169 3,792 588 1.676 5,716 3,792 aearmng Malntenan Cos in relauon to rertal preml Sundrles Payroll Fee5 Accounts Fees Equlpment ank & Card Charges 1,739 6247 1.676 5,716 3,646 1.161 142 no TJI 819 6,347 2.947 2,947 420 420 1.161 142 720 731 819 516 516 3YJ 267 267 65.315 65215 n,197 71,197 Net Suiylusl(Deficit) forthe peri(Ml (5649) (5,649) (24W6) (24,046) Cash & Bank BalanS brwght ford Transfer from Skt. Nikolaj Dani%h Seamen's Churth (11208521 Cash and Bank Balanc4s carried foManl 51211 51,211 60,Sq4 14.713 14.713 45¥2 45,562 51,211 51,211 The notes on page 13 and 14 fomi part of the financial slatements. li
SI NICKOLAJ DANISH CHURCH CIO Charity No: 1185236 Statement of Assets and Liabilities As at 31 December 2024 Notes 2024 2023 Monetary Assets Natwest Current Account (305) Natwest Reserves Account (313) Cash Float Total Monetsry Assets Comprising: Unrestricted Funds Restricted Funds 20,330 25,113 119 18,072 32,660 479 45,562 51,211 Non Monetary Assets and Liabilities Fixed Assets Investments (At market value) Office Equipment Fixtures & Fittings Fridge Sum up machines x2 Other Equipment 380 1,413 541 130 575 3,039 380 1,413 541 130 575 3,039 Debtors Sundry Debtors Creditors Salary Control Account HMRC Pension Payroll Fee Accounts Fee (998) (123) (47) 480 (I,oio) (111) 480 These financial statements w and signed on its beh If by: re approved by the committee on (date) Peter Aarosin, Chairperson The notes on pages 13 and 14 form part of these financial statements. 12
Slff NICKOW DANISH CHURCH CIO arity No: 1185236 Notss to the Financial Statements For the year ended 31 December 2024 Notes Basls of Preparation The* accounts have been prepared on a retripts and payments (R&P) basis In Ilne with tharty commission guidan for a charity of this ske. The comparative period of operation l January 2023 to 31 Dember 2023. staffing Costs 2024 2023 Gross Pay Pension Contributions Employers Nab'onal Insurdn 26,423 605 25,412 575 Averd e number of staff Other professional serylces provided by Independent Examiner The Independent Examinatron has bn provlded by Reberca Triffitt of Phoenix Accountsncy and Business Consultsry Limited. 2024 2023 Payroll SeNices Independent Examination 70 516 586 142 720 Taxation Skt. Nickolaj Danish Church is a registered Charitable Incortorat&J Organisation, registration number 1185236. All the Charits& income is applied to it5 charitsble objectives and the ass(Kiation is therefore exempt under current legislation from most fomis of tsxation. 13
SKf NICKOW DANISH CHUR(11 CIO Charity No: 1185236 Notes to the Financial Statements For the year ended 31 December 2024 Trustee Remuneration No Remunerdtion was paid to Trustees duriTrJ the period out of the funds of the charity. There was reimbursement of expenses for 3 Trustee during the year of £619 (2023: Nil). Transfer to SkL Nickolaj Danish Church CIO The Charitable Incorporated Organisation (CIO) has just compl*d the investment transfer from the old tharity to the CIO on the 7th January 2025. This is not Induded in these accounts as Its after the year end. 14