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2024-03-31-accounts

Registered Charity Number: 1186665 Registered Charity Number:

The Junction Church

Report and Accounts For the year ended 31st March 2024

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Contents

Charity Information Page 3
Trustees’ Annual Report Page 4-12
Independent Examiner’s Report Page 13-14
Statement of Financial Activities Page 15
Cashflow Statement Page 16
Balance Sheet Page 17
Notes to the Accounts Page 18 - 23

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Charity Information

Charity Number:

Charity Number: 1186665 Registered Office: The Junction Church PO Box 10677 Loughborough LE11 9JT Governing Document: The Junction Church is governed by its Constitution dated 29 November 2019 and was created as a Charitable Incorporated Organisation (“the CIO”) registered with the Charity Commission. Trustees: Mark Bean (Chair) Lydia Todd Carolyn Bean Joseph Ohajunwa Noel Suthesh (Appointed 1[st] November 2024) Key Management: Roy & Lydia Todd (Church Leaders) Banker: Virgin Money 3 Eastgates Leicester LE1 5YA Independent Examiner: Paul Exton Accounting Services 53 West Leake Lane Kingston on Soar Nottingham NG11 0DN

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The trustees present their annual report, together with the unaudited financial statements of the charity, for the year ended 31st March 2024.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity Trustees are responsible for the general control and management of the charity. The Trustees give their time freely and receive no remuneration or other financial benefits. The Trustees meet together at least three times a year and are responsible for all major decisions taken in relation to running the church and the activities provided by the charity. The day-today management of the church and activities are delegated to Senior Pastors Roy and Lydia Todd.

Roy and Lydia are supported by a team they lead and are developing. As the church has grown, some of these leaders have oversight in a paid capacity. Roy and Lydia have numerous mechanisms of oversight and accountability.

New Trustees

New trustees are appointed by existing trustees when appropriate. Suitable candidates are considered on the basis of their skills, experience and understanding of the aims of the church. New Trustees have the opportunity of reviewing appropriate documents including the accounts as part of their induction process.

OBJECTIVES AND ACTIVITIES

The principal objects of the charity are:

The main activities are:

m

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ACHIEVEMENTS AND PERFORMANCE

The Junction Church continues to grow from strength to strength. Statistics across every aspect of the charity are on a upward trend. This is deeply encouraging.

The growth has meant the charity has been able to increase it’s capacity to serve in a wide range of areas, many of which will be detailed below.

Sabbatical

During the summer months of 2023, senior pastors Roy & Lydia Todd had a three month sabbatical. This had been planned since 2022. In most denominations, a senior ministers sabbatical is a once in seven year event. However, this was their first sabbatical in 25 years of church leadership!

The purpose of a sabbatical is to allow extended space and time to study, reflect, rest and learn from the experience of other churches. During their sabbatical, Roy and Lydia visited a range of churches where they learned much. They also spent significant time reflecting on the vision and purpose of the Junction Church. The sabbatical was without question an invaluable contribution to the charity. Indeed, a number of key developments occurred when Pastors Roy & Lydia returned. These have proved highly significant for the charity.

Leadership

Encouragingly, during the sabbatical, the core leadership team stepped up in virtually every level of leadership. Robust processes were set in place so that if a major emergency occurred, the trustees could be contacted, and if necessary, pastors Roy & Lydia could be informed. Thankfully, this was not necessary.

It is worth noting that since the sabbatical, there has been no let up in the responsibility which a growing leadership team are embracing. This is another ongoing benefit of the sabbatical.

Merger

In October 2023, Beacon Christian Fellowship (charity 1068690) merged to become part of the Junction Church. Pastor Roy Todd had stepped in to pastor this small church in 2020 during the Covid crisis. As well as navigating the challenges of lockdowns, Beacon Christian Fellowship (BCF) had been through an extremely turbulent time that year which included the loss of numerous senior leaders as well as a serious decline in finances.

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Achievements and performance (continued)

Having journeyed with BCF for the previous three years, there was already an excellent relationship between members of BCF and members of the Junction Church. For example, the Junction Church stepped in to work with members of BCF in multiple aspects of church life - including music, community action and youth work. So it was no surprise when the merger finally did occur as there was already a healthy relationship between the two churches.

A formal meeting of BCF members took place in September 2023 where it was decided that the Beacon Christian Fellowship should merge to become part of the Junction Church. The merger officially took place in October 2023 at a well attended service where members of the Junction Church embraced and welcomed members of the former Beacon Christian Fellowship into the congregation. This was a very special occasion which was a powerful catalyst for the years to come. Indeed, the guest speaker at the merger service (David Shearman) observed that in his many years of Christian leadership, he had rarely witnessed such a healthy merger. It’s success has been because of the great relationship between church members.

The merger has proven to be an extremely healthy development. In truth, without the merger, BCF would have found itself in an increasingly precarious financial position. However, it has been a delight to see members of the former BCF flourish and thriving as part of the Junction Church. Indeed, their contribution is invaluable, and ultimately to the benefit of the local area.

Youth Work

Youth work continues to be a significant aspect of the Junction Church. Angie Koppoe heads up this area - under the banner of ‘This Rising Generation’ (TRG).

The youth work includes Friday night events which cater for various age ranges. During the year, there have also been weekly youth hubs where free meals are provided for young people. There is also a Sunday gathering of TRG which includes fun, games and inspiration.

A team of trained and approved people volunteer alongside Angie Koppoe to serve this growing department. It is wonderful to see young people growing in confidence.

6

Achievements and performance (continued)

Students

The Junction Church is very popular with students. Indeed, hundreds of students connect into the Junction Church community. Our student team works hard to serve students. This includes welcome meals for freshers, and weekly meals each Sunday for all students who attend.

We are often contacted by parents of students who express their thanks and appreciation for the way their sons and daughters are cared for, especially in the anxiety of their first year.

The student team (all students themselves) do an excellent job, ensuring students are cared for and pointing towards any professional help they might need.

Students add vibrancy and energy to the life of the church. Indeed, it is wonderful to see so many students serving the wider community, including at our warmth hubs and community cafe. This has helped contribute towards developing a positive relationship between local university’s and the towns /cities where they’re located. We feel this is a helpful local service.

Community Action

The cost of living crisis has deeply impacted many local people. Rising costs of food and heating has meant many have felt huge financial pressure.

To help serve local people, the Junction Church puts on a twice weekly ‘Warmth Hub’ during the winter months. This took place at the Beacon Centre. This meant that many people could enjoy a hot meal in a warm and comfortable environment. All meals were free of charge, and were highly nutritious. They were very much appreciated by many families. Around 100 people per month connected with the Warmth Hubs.

During the warmer months, we hosted a weekly community cafe. This was also well attended, and included free meals each week. This has also been very much appreciated by those who attend.

Our community cafe’s have been a wonderful way of connecting with local people. Indeed, local community police officer’s have regularly attended the community cafe’s so they can spend time with local people, and build relationships with local communities. We have been delighted to see this.

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Achievements and performance (continued)

Stay and Play

Our weekly Stay and Play is called ‘All Stars’. This happens each Friday morning. This is an affordable stay and play (just £2 per child), and this includes snacks and food each week. All Stars has proved incredibly popular, with upwards of 30 children coming each week along with their parents.

We worked hard to create a warm and friendly environment so that it would be easy for parents and carers to connect with other parents and carers. Indeed, it was lovely to see friendships being formed as a result of this weekly Stay and Play.

Kids Work

Our Kids work is headed up by Amy Chandler. She leads a growing team of trained and approved volunteers who oversee a brilliant age appropiate programme for children aged 4-11. This takes place each Sunday, as well as occasional mid-week occasions such as the Halloween holiday and Christmas.

We have prolific safeguarding policies in place, with a clear safeguarding statement on our website. This is something which we are continually reviewing and updating so we are robust, ensuring the wellbeing and safety of all who attend. Parents and carers appreciate this.

Soup Kitchen

The Soup Kitchen is a weekly event led by Graham and Rachel Swann. Their heart is to reach out to those on the fringes of society.

Each Thursday night, those who attend are provided with a nutritious meal (all free). There is a wonderful atmosphere which makes it easy for people to chat and make friends. The evening also involves music and inspiration, and this is always enjoyed by those who attend.

The Soup Kitchen is highly organised and well run. It offers respect to people whose lives are often challenged. We want to give them a sense of dignity, and serve them with excellence.

It’s fair to say the Soup Kitchen reaches 100’s of people each month. Graham and Rachel are supported by a great team who all help to create a great night for those who come.

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Achievements and performance (continued)

Family Support

As a church, we support many families with a wide range of activities. For example, our family breakfast on Saturday morning’s has proven very popular. This is a chance for families to be together in a relaxed atmosphere.

As well as monthly events, there are also a wide range of family activities we host including family walks, family parties, family Christmas events, light parties, and summer socials. These are all appreciated by parents, carers and kids.

Christmas Events

Christmas 2023 was a wonderful season. Each Sunday during December, our main Sunday services included special Christmas music and inspiration. The most popular service was the kids nativity service at which many 100’s where in attendance.

We also hosted a free winter wonderland for families and kids. This included inflatables and free food and treats for everyone. Many parents expressed their deep appreciation for this event, with one informing us that they had paid significant money for a similar event which was not nearly as good as ours. We were delighted to put our event on for free, and our team of volunteers worked very hard to make this a great experience for everyone. This was a wonderful way of serving the community at Christmas, and alleviating the financial pressure which many families have been experiencing in the cost of living crisis.

Building Acquisition

In January 2024, we began negotiations for the purchase of the Beacon Bingo Building in Loughborough. The Bingo club closed in 2021, and apart from two ongoing leases (carpark and rooftop telecoms), the building was in a state of neglect.

We could see the potential of the building as a means of serving the wider community and fulfilling our charitable aims.

It was originally built as an Odeon Cinema in 1936, with seating capacity in the theatre for around 1700 people. The building was extended in 1990 to include a bar area, a lovely space which could easily host various meetings and activities. There are also a number of rooms which could be used to facilitate various departments of the charity.

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Achievements and performance (continued)

After a number of key conversations, the trustees agreed to purchase the site for £1.25 million. This not only included the large theatre, but it also included the carpark as well. In all, the site measures at just under 1 acre of town centre land. We’ve since learned that developers had offered significantly more for the site. However, the owner was so impressed with our charitable objectives that he decided to sell the site to us. The purchase was completed on 24th April 2024.

News of the acquisition has been featured favourably by local media. Indeed, local people have welcomed the purchase as they were concerned at the building’s neglect. For example, a newspaper reporter stood outside the building to get the views of passers by. Everyone of them without exception welcomed our acquisition. This likely speaks of the positive relationship built in the town over many years.

Conclusion

This has been a busy year, and we are encouraged by the positive impact we are having on so many people.

We are grateful to all the volunteers and members of the Junction Church community who get involved and support the work. Without them, none of this would happen.

FUTURE PLANS

The Junction Church Charity is in good health. With the acquisition of a new facility, this will give us fresh opportunities to serve local people and fulfil our charitable objectives.

Over the next year, we will be continue restoration work on the new site. This will enable us to host a wide variety of events throughout the year including our Sunday services as well as our community action programmes throughout each week.

We are working intentionally to increase our volunteer base so that we can extend our capacity to serve more people. This includes comprehensive training covering multiple areas including safeguarding, leadership development, and specialist input to continue to raise levels of competence across the life of the church. Our heart is to serve with excellence.

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The Junction Church is uniquely diverse, with some 50 nations represented. We believe this is a healthy example of unity and togetherness in a world which feels increasingly divided. We want to develop this more.

Meanwhile, the financial trajectory of the charity is on an upward trend. This means the charity is not only able to pay its bills, but is able to invest in the lives of people for whom we are committed to serving, as per our charitable objectives.

It is our honour to serve.

VOLUNTEERS

Across all our churches there are more than 200 volunteers involved in serving and leading. We could not operate and do everything we do without the generosity and dedication of those who diligently serve each year.

FINANCIAL REVIEW

The trustees, after appropriate review, have a reasonable expectation that the church has adequate resources to continue in operational existence for the foreseeable future.

Income received by the charity for the period ending 31[st] March 2024 totalled £979,774 (2023: £603,408). This included restricted income totalling £315,688 (2023: £105,772) and a donated asset received in the merger with Beacon Christian Fellowship valued at £350,000. Expenditure for the period amounted to £436,502 (2023: £329,903), resulting in a surplus of £543,272 (2022 was a surplus of £273,505).

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. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

RESERVES POLICY

The reserves policy set by the Trustees is to carry net unrestricted income equal to a minimum of 6 months’ committed expenditure. Committed expenditure includes Sunday venue costs, all salary costs plus any direct debits. The balance of reserves at 31st March 2024 was £1,176,064, made up of £314,760 restricted funds and £861,305 of unrestricted funds. Current free reserves (unrestricted funds less tangible fixed assets and investments) are £226,504 which is above the reserves policy.

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RISK MANAGEMENT

All major insurable risks are subject to normal Churches and employer's insurance. Annual reviews of risk, such as health and safety are undertaken by the Trustees in conjunction with employees and volunteers. The trustees are satisfied that systems are in place to mitigate exposure to the major risks.

STAFF REMUNERATION POLICY

The Trustee Board carries salary reviews out each year. However, a review does not guarantee a pay rise and there is no contractual right to an annual pay rise. Staff will be informed of the result of the review in writing.

TRUSTEES’ APPROVAL OF THE ANNUAL REPORT

The annual report was approved by the trustees on 28[th] January 2025.

SUMMARY

The Trustees consider that they have complied with the Charities Act 2011 and that the church and its membership are meeting the charitable objectives that were determined when the church was formed. As it grows, it is expected that the church’s community will have further opportunities to increase its activity and influence.

Mark Bean Trustee

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Independent Examiner's Report to the Trustees of The Junction Church I report to the charity trustees on my axamlnation of the accounts of The Junction Church for the year ended 31 March 2024, which are sat out on pages lo and J4. RESPONSABILITIES AND BASIS OF REPORT As the charity's trustQgs of tho Company. you are responslble for the preparatlon of the occounts in accordanco with the requlrements of the Companles Act 2000 ('the 2m6 Act.), Having satisfied myself that the accounts of the company are not required to be audited Iindgr Part 16 of the 2006 Act and are eligiblo for indopendent examlnotior, I report in reJpect of my axaminatlon of your charity's accounts as carried oul under section 145 of the Chartties Act 2011 Act ('the 2011 Act,). In carrylng out my examination I have followed the Directions given by tho Charity Comrnission under sectlon 745(5)(b) of the 2011 Act, INDEPENDENT EXAMINER'S STATEMENT Slnce the. Compony'o gross income exceeded £250,OtK) your examlner must be a memb@r of o bcdy listed in section 145 of the 2011 Act. I conflrm that I am qualifiod to undertake the examination because l a member of Association of Accountlng Techniclans, whlch Is one of the Ilsted bodles. I hcve completed my examination. I conflrrr, that no matters hav@ come to my attention ir. connection with the examlnation giving me tsau5e to belleve.. l. accountlng records were nol kept in re>pect of tho Company as requlred by section 380 of 2006 Act,. or 2. the accounts do not accord with those records,, or 3. the accounts do not comply with the accounting requlremenfs of sectlon 396 of the 2006 Acl other than any requirement that the accour)ts give o 'tn Jp. fair view wkiich is not a mnttp.r considered as part of an Independent examinatlon,. or 4. the accounts have not beer, prepared in accordance with the mothods and prinoiple4 of the Statement of Recommended Practica for accountlng and reportlng by CharIt￿S, I have no LUI ILéJlllS and have come across no other matters in CGJnnpe.tlnn with the examination to which attention should be drawn in this report In order to enable a proper u￿erstandIng ofthe accounts to bo rgached. 13

Emmo Waldron MAAT Paul Extor, Accountlng servic.os 53 wo.ql Leoko I rlie Kingston on Soar Notlingham NGI I ODN 27 January 2025 14

The Junction Church

Statement of Financial Activities for the year ended 31 March 2024

Notes
Incoming resources:
Donations and legacies
2
Donated Assets
Charitable Activities
Events and Activities
Interest Received
Restricted Income
Total incoming resources
Resources expended:
Charitable activities
3
Restricted Activity
Total resurces expended
Net surplus / (Deficit) for the year
Transfer between funds
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
Restricted
Funds
Total
2024
£
£
£
299,996
-
299,996
350,000
-
350,000
1,200
-
1,200
9,551
-
9,551
3,339
-
3,339
-
315,688
315,688
664,086
315,688
979,774
279,106
-
279,106
-
157,396
157,396
279,106
157,396
436,502
384,980
158,292
543,272
-
-
-
384,980
158,292
543,272
476,324
156,468
632,792
861,305
314,760
1,176,064		 Unrestricted
Funds
Restricted
Funds
Total
2023
£
£
£
220,977
-
220,977
250,000
-
250,000
2,250
-
2,250
23,074
-
23,074
1,334
-
1,334
-
105,772
105,772
497,636
105,772
603,408
226,804
-
226,804
-
103,099
103,099
226,804
103,099
329,903
270,832
2,672
273,505
-
-
-
270,832
2,672
273,505
205,492
153,795
359,287
476,324
156,468
632,792

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure has arisen from continuing operations.

The notes from page 18 onwards form part of these accounts.

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The Junction Church

Cashflow Statement for the year ended 31 March 2024

Cashflow from operating activity
Net (outgoing) / incoming resources for the year
Adjustments for:
Depreciation
Profit on disposals
Increase in debtors
Increase in creditors
Net Cashflow from operating activities
Cashflow from investing activities
Payment to acquire fixed assets
Donated Assets
Net cashflow from investment activities
Cashflow from financing activities
Repayments of borrowings
Net cash from financing activities
Net (decrease) / increase in cash in the year
Cash at the beginning of the year
Total funds		 2024
2023
£
£
543,272
273,505
19,461
8,231
-
-
(41,497 )
(35,680 )
11,720
3,589
532,956
249,645
(19,478 )
(43,015 )
(350,000 )
(250,000 )
(369,478 )
(293,015 )
-
-
163,478
(43,370 )
315,917
359,287
479,395
315,917

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The Junction Church

Balance Sheet as at 31 March 2024

Notes
Fixed Assets
Tangible assets
6
Current Assets
Debtors
7
Prepayments
Cash at Bank
Total current assets
Creditors
Amounts falling due within one
year
8
Net current assets
Total net assets
Represented by
Unrestricted funds
Restricted funds
Total funds		 Unrestricted
Funds
Restricted
Funds
Total
2024
£
£
£
634,801
-
634,801
70,387
-
70,387
6,791
-
6,791
164,635
314,760
479,395
241,812
314,760
556,572
15,309
-
15,309
226,503
314,760
541,263
861,304
314,760
1,176,064
861,304
-
861,304
-
314,760
314,760
861,304
314,760
1,176,064		 Unrestricte
d Funds
Restricted
Funds
Total
2023
£
£
£
284,784
-
284,784
35,681
-
35,681
-
-
-
159,449
156,468
315,917
195,130
156,468
351,598
3,589
-
3,589
191,541
156,468
348,009
476,324
156,468
632,792
476,324
-
476,324
-
156,468
156,468
476,324
156,468
632,792

The financial statements were approved by the trustees on 28th January 2025 and were signed on its behalf by:

Mark Bean Chair of trustees

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The Junction Church

Notes to the financial statements for the year ended 31 March 2024

1 Accounting policies

The financial statements have been prepared in accordance with applicable accounting standards in the United Kingdom (FRS 102), the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and with the Charities Act 2011. The financial statements are prepared on a going concern basis and the accounting policies have been applied consistently, other than where new policies have been adopted. The charity meets the definition of a public benefit entity as set out in FRS 102

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (accounts and Reports) Regulation 2008 only to the extent required to provide a ‘true and fair’ view. The departure has involved following the Charities SORP (FRS 102) published on 16th July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1st April 2005 which has since been withdrawn.

(a) Fund Accounting

Unrestriced funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.

Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

(b) Income

Income is composed principally of donations by Church members and gift aid reclaimed on donations where eligible. The nature of the Church’s regular income means that income is brought into account only when the income is received. Gift aid reclaimed is recognised in the financial period to which it relates.

Income from any other activities is recognised when earned.

Investment income is recognised on a receivable basis and arises from interest bearing deposit accounts.

(c) Voluntary Help and Gifts in kind

The charity relies on volunteers to carry out many of its activities. However, in accordance with the SORP, the value of these services has not been included in these accounts as they cannot be reliably measured.

Donated goods and services, where significant, are included in income at an estimate of their value to the charity. An expense is recognised as those goods, facilities and services are consumed or distributed to beneficiaries.

(d) Expenditure

Expenditure, including irrecoverable VAT, is recognised as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

Charitable activities is accounted for on an accruals basis, the costs incurred on the charity's operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.

Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

(e) Government Grants

Government grants relating to tangible fixed assets are treated as deferred income and released to the statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the statement of financial activities as the related expenditure is incurred.

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The Junction Church

Notes to the financial statements for the year ended 31 March 2024

1 Accounting policies (Continued)

(f) Taxation

The Church is a registered charity, and as such, is entitled to certain exemptions on income and profits from investments and surplus on any activities carried on in furtherance of the Church’s primary objectives, based on the assumption that these surpluses are applied solely for charitable purposes.

The Church is not registered for VAT. Irrecoverable Value Added Tax is charged to the relevant expenditure heading to which the net cost is associated.

(g) Tangible Fixed Assets

Fixed Assets are recorded at cost of purchase less accumulated depreciation. The Church generally capitalises assets which meet or exceed a de minimis value of £500 and are likely to have a useful economic life of more than one year. Assets purchased using restricted funds are fully depreciated on the purchase date.

Depreciation is charged at the following annual rates, commencing in the year of acquisition at rates estimated to write off their cost, less any estimated residual value, over their expected useful lives.

Motor vehicles 25% straight Line, accured from the month after purchase Freehold Property 2% straight Line, accured from the month after purchase Other assets 33.3% straight Line, accured from the month after purchase

(h) Debtors & Creditors

The Church recognises all transactions on an accruals basis, which is to say that all sums due to or from the Church are included in the year which they occurred. If they have not been paid or received, they are included as a debtor or creditor.

(i) Pensions

The church operates a defined contribution pension scheme, contributions payable to the scheme are charged to the Statement of Financial Activities in the period to which they relate.

(j) Going concern

The trustees have determined that there is no material uncertainty that casts doubt on the entity’s ability to continue as a going concern.

(k) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments, which are initially recognised at transaction value and subsequently measured at their settlement value.

(l) General information

The Junction Church is a charitable incorporated organisation registered in England, registered number CE019818, and charity registered number 1186665

(m) Critical accounting estimates and assumptions:

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year are discussed below.

Critical areas of judgement:

Depreciation of tangible fixed assets:

Determining the appropriate rate of depreciation of tangible fixed assets requires an estimate of the useful economic life and ultimate net realisable value. The useful economic life is determined to be the period during

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The Junction Church

Notes to the financial statements for the year ended 31 March 2024

2 Donations and legacies

The majority of the incoming resources are donations from Church members.

Income from donations
Gift Aid		 Unrestricted
Funds
Restricted
Funds
Total
2024
£
£
£
256,276
309,021
565,297
43,720
6,666
50,387
299,996
315,688
615,684		 Unrestricted
Funds
Restricted
Funds
Total
2023
£
£
£
200,977
105,772
306,749
20,000
-
20,000
220,977
105,772
326,749
Ministry & Pastoral Care
Events
Employer Costs
Venue Hire
Admin and Operational costs
Restricted Activity		 Unrestricted
Funds
Restricted
Funds
Total
2024
£
£
£
59,019
-
59,019
23,544
-
23,544
116,634
-
116,634
28,367
-
28,367
51,541
-
51,541
-
157,396
157,396
279,106
157,396
436,502		 Unrestricted
Funds
Restricted
Funds
Total
2023
£
£
£
37,001
-
37,001
17,616
-
17,616
111,669
-
111,669
24,890
-
24,890
31,878
-
31,878
-
103,099
103,099
223,054
103,099
326,153

4 Governance Costs

The costs of governance is included in resouces expended and is split as follows:

Legal & Professional
Examiner
Bank charges		 Total 2024
Total 2023
£
£
4,505
6,161
250
250
2,502
161
7,257
6,572

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The Junction Church

Notes to the financial statements for the year ended 31 March 2024

5 Staff Costs

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|||| |---|---|---| |An analysis of staff costs is as follows:|Total 2024|Total 2023| |£|£| |Wages and Salaries|112,233|101,165| |Employers national Insurance|4,437|4,379| |Employers pensions contributions|2,540|2,419| |119,211|107,963|

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No employees received employment benefits of more than £60,000 in either the current or preceding year.

6 Tangible Fixed Assets

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||||||| |---|---|---|---|---|---| |Media & Sound|Software|Freehold|Motor| |Total| |Equipment|and Systems|Property|Vehicles| |£|£|£|£|£| |Cost| |Brought forward|-|-|250,000|43,015|293,015| |Additions in year|1,169|1,796|357,513|9,000|369,478| |Carried forward|1,169|1,796|607,513|52,015|662,493| |Depreciation| |Brought forward|-|-|3,750|4,481|8,231| |Charge for the year|201|349|7,402|11,509|19,461| |Carried forward|201|349|11,152|15,989|27,692| |Net Book Value| |at 31 Mar 2024|968|1,447|596,360|36,026|634,801| |at 31 Mar 2023|-|-|246,250|38,534|284,784|

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7 Debtors

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|||| |---|---|---| |Total 2024|Total 2023| |Gift Aid debtor|70,387|20,000| |Prepayments|6,791|2,763| |Other debtors|-|12,918| |77,178|35,681|

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|||| |---|---|---| |8|Creditors| |Total 2024|Total 2023| |Accruals|1,295|-| |Credit Cards|1,001|-| |Other Creditors|13,013|3,589| |15,309|3,589|

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21

The Junction Church

Notes to the financial statements for the year ended 31 March 2024

9 Analysis of movement in Funds

Restricted Funds
Vision
Building Fund
Community Fund
SHIRE Community Grant
Other
Unrestricted Funds
Total
Restricted Funds
Vision
Building Fund
Community Fund
National Grid Grant
Other
Unrestricted Funds
Total		 Opening
Balance
1st April 2023
Incoming
Resources
2023/23
Outgoing
Resources
2023/24
Transfers
2023/24
Closing Balance
31st March 2024
£
£
£
£
£
39,222
28,286
23,969
-
43,539
64,112
221,148
68,995
-
216,265
167
958
-
-
1,125
-
2,500
-
-
2,500
52,967
62,795
64,432
51,330
156,468
315,688
157,396
-
314,760
476,324
664,086
279,106
-
861,304
632,792
979,774
436,502
-
1,176,064
Opening
Balance
1st April 2022
Incoming
Resources
2022/23
Outgoing
Resources
2022/23
Transfers
2022/23
Closing Balance
31st March 2023
£
£
£
£
£
39,906
17,609
18,293
-
39,222
61,066
3,046
-
-
64,112
9
158
-
-
167
-
10,000
10,000
-
-
52,814
74,959
74,806
-
52,967
153,795
105,772
103,099
-
156,468
205,492
497,636
226,804
-
476,324
359,287
603,408
329,903
-
632,792

Restricted Funds and the use of these funds are as follows:

Vision To help further the vision and expansion of the Junction Church Building Fund An ongoing fund to be used to purchase a building for the Church Community Fund To support those in need in our local community and our church SHIRE Community Grant Grant provided by Leicester City Council for the provision of holiday activities

10 Transactions with trustees

None of the trustees received any fees for their services as Trustees. Lydia Todd is a Trustee and engaged in Ministry for the Church, for which employment costs of £38,397 (2023: £28,865) were made during the year, this includes all employer costs. Included in this amount, employer pension contributions of £1,052 (2023: £1002) were made.

These payments are permitted by section 6 (2g) of the charities governing document.

Except for the reimbursement of expenses incurred when acting as agent for the charity, no expenses were paid to, or for, the trustees.

22

The Junction Church

Notes to the financial statements for the year ended 31 March 2024

11 Transaction with related parties

The following is a summary of organisations and individuals, which are related to The Junction Church together with details of the transactions made with them during the year.

Remuneration in the year was paid to Roy Todd (husband of Trustee Lydia Todd) who was employed in their own right. Employment costs and benefits totalling £53,879 (2023: £51,017) were made. A vehicle was also provided by the charity which is mostly used for Church business.

Zara Ohajunwa, the wife of Joseph Ohajunwa (trustee) is also an employee of the church in their own right. Employment costs and benefits totalling £7,778 (2023: £3,271) were made.

The charity received donations totalling £36,713 (2023: £21,200) from related parties, including any related gift aid (related parties includes the trustees, any other members of key management and anyone closely connected to them).

A company owned and controlled by Mark Bean (Trustee) and Carolyn Bean (Trustee) received £9,204.40 (2023: £72) for providing printing services to the charity and for the purchase of a van.

There are no further related party transactions to disclose apart from these above.

12 Prior Year Adjustment

The 2023 accounts didn’t include the value of property acquired in a merger with Chapel Street Pentecostal Church. This has been corrected in the reinstated 2023 comparitives.

13 Control

There is no ultimate controlling party.

14 Going Concern

The trustees have determined that there is no material uncertainty that casts doubt on the entity’s ability to continue as a going concern.

23