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The Charity Registration Number is :- 1188521
Festival Church
Report and Accounts
31 March 2024
Draft 13/1/25
Festival Church
Report and accounts for the year ended 31 March 2024
Contents
| Page | ||
|---|---|---|
| Charity information | 1 | |
| Trustees' Annual Report | 1 | |
| Statement of directors' responsibilities | 5 | |
| Independent Examiner's Report | 6 | |
| Funds Statements:- | ||
| Statement of Financial Activities | 8 | |
| Movements in funds | 9 | |
| Income and Expenditure account | 10 | |
| Balance sheet | 11 | |
| Notes to the accounts | 12 |
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Festival Church
Trustees' Annual Report for the year ended 31 March 2024
The Trustees present their Report and Accounts for the year ended 31 March 2024.
Reference and administrative details
The charity name.
The legal name of the charity is:- Festival Church.
The charity is also known by its operating name, Festival Church.
The charity's areas operation and UK charitable registration.
The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1188521.
The charity does not operate in any overseas jurisdictions.
Legal structure of the charity
The charity is constituted as a Charitable Incorporated Organisation (CIO) in England & Wales. The governing document of the charity is the constitution of the CIO as approved by the Charity Commission in England & Wales (CCEW) .
The governing document is dated 12 March 2020 There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law. The trustees are all individuals.
The principal operating address, telephone number, email and web addresses of the charity are:-
Queen Street Chester, CH1 3LG Telephone 01244321193
Email Address admin@festival.church Web address www.festival.church
The Trustees in office on the date the report was approved were:-
Timothy James Rowlands (Chair) Robert David Morris Stewart Samuel John Rowlands Luke Edward Fraser Gratton (resigned 25/01/2024) Philip John Pierce Michael Leonard Meynell (Vice-Chair)
The following persons served as Trustees during the year ended 31 March 2024 :-
The trustees who served as a trustee in the reporting period were as shown above, and there were no changes during the year, or in the period between the year end and the approval of the accounts.
Ruth Mercy was appointed on 24/10/2024 All the trustees are also members of the charity.
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Festival Church
Trustees' Annual Report for the year ended 31 March 2024
Objects and activities of the charity
The purposes of the charity as set out in its governing document.
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To advance the Christian faith in accordance with the Statement in such ways and in such parts of the United Kingdom or the world as the Church Council from time to time may think fit;
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To relieve sickness and financial hardship and to promote and preserve good health by the provision of funds, good or services of any kind including the provision of counselling and support in such parts of the United Kingdom or the world as the Church Council from time to time think fit;
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To advance education in such ways and in such parts of the United Kingdom or the world as the Church Council from time to time may think fit.
The main activities undertaken in relation to those purposes during the year.
Weekly Sunday Services. Regular Prayer Meetings. Regular activities for Children and Youth for them to advance in their faith. Small Groups to facilitate community and pastoral care. Extension services in care homes.
We have facilitated Warm Hubs and community groups. There are various activities to assist people: Toddlers Groups, Friendship groups and craft clubs. We have work with our local foodbanks, Food Shares as well as debt counselling services and projects that encourage people to volunteer and be a part of the community.
We assist our local schools. One of our congregations has a nursery in the church building. We support a nursery program in rural Zambia. We have also supported many projects locally, nationally and internationally.
The trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity.
The main achievements and performance of the charity during the year.
We have continued to see people join our churches with a growth in attendance. We daily see people encouraged to flourish in their faith. It remains a highlight to see the impact in individuals, families and the wider community. It continues to be good to see that people find spaces where they are able to address and find peace in their spiritual, emotional and mental health.
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Festival Church
Trustees' Annual Report for the year ended 31 March 2024
Structure, governance and management of the charity
The methods used to recruit and appoint new charity trustees.
New Charity Trustees are usually identified by their local Lead Pastors to the Senior Pastor. The individuals are those who hold an understanding of good governance and many times the professional background that could serve the organisation. Upon an individual being identified, and a positive discussion at the trustees meeting, this individual is then approached and asked to consider the role. The individual will attend a Trustees meeting initially as an observer to see if they feel this is a role they would be willing to undertake. Thereafter they need to complete all the relevant paperwork associated with the role (including but not limited to): - DBS - Data Protection Training - Annual Code of Conduct and Statement of Fact completed.
The charity's organisational structure.
How the charity makes decisions and how decisions are delegated.
Major Governance and budget decisions are made by the Board of Trustees alongside the Senior Pastor. Local congregation decisions are made by the Lead Pastor in each congregation, keeping the Senior Pastor informed. The day-to-day operations of each congregation is handled by each location’s Lead Pastor. There are several staff that assist each of those congregations eg. Pathway & Projects Manager, Operations Manager and Finance Assistant.
Setting pay and remuneration of key management personnel
This is decided by the trustees who do not have a prejudicial interest in the outcome. They meet and discuss appropriate financial remuneration as well the annual pay increases.
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Festival Church
Trustees' Annual Report for the year ended 31 March 2024
The charity's relationships with related parties.
Timothy Rowlands received a salary for his role as Senior Pastor.
Emily Rowlands (married to Tim Rowlands) is employed as the Pathways & Projects Manager and is paid for that role.
Sam Rowlands, who is a trustee, is related to Tim Rowlands.
Bankers
The Co-operative bank, PO Box 150, Delf House, Skelmersdale, WN8 6GG
Kingdom Bank, Ruddington Fields Business Park, Mere Way, Ruddington, Nottingham, NG11 6JS
Accountants
KBH Accountants Ltd, 255 Poulton Road, Wallasey, CH44 4BT
Financial review
The charity's financial position at the end of the year ended 31 March 2024
The financial position of the charity at 31 March 2024 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-
| Total Funds Unrestricted Revenue Funds available for the general purposes of the charity Net income |
2024 £ 84,031 1,312,146 1,312,146 |
2023 £ 1,219,248 1,228,115 1,228,115 |
|---|---|---|
Financial review of the position at the reporting date, 31 March 2024 .
The trustees consider the financial performance by the charity during the year to have been satisfactory.
Policies on reserves.
It is Festival Church policy to maintain a balance on unrestricted funds which equates to approximately two months' unrestricted payments in addition to £20,000 to cover emergency situations which may arise from time to time.
Availability and adequacy of assets of each of the funds
The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund.
Details of The Independent Examiner
Member of Chartered Certified Accountants
255 Poulton Road Wallasey Merseyside CH44 4BT
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Festival Church
Trustees' Annual Report for the year ended 31 March 2024
Statement of Trustees' Responsibilities
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), .
In particular, charity law requires the Trustees, if they prepare accounts on an accruals basis, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Trustees are required to :-
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to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
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select suitable accounting policies and apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business;
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state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;
The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.
The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with regulations made under the Charities Act 2011. They 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 Trustees are also responsible for the contents of the Trustees' report, and the statutory responsibility of the Independent Examiner in relation to the Trustees' report is limited to examining the report and ensuring that , on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements.
This report was approved by the board of trustees on 28 January 2025.
Timothy Rowlands Trustee
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Report of the Independent Examiner to the Trustees of the charity on the accounts for the year ended 31 March 2024
I report to the Trustees on my examination of the financial statements of the charity on pages 8 to 25 for the year ended 31 March 2024 which have been prepared in accordance with the Charities Act 2011 (the Act) and with the Financial Reporting Standard 102, (effective 1st January 2016) as modified by FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , and under the historical cost convention and the accounting policies set out on page 12.
Respective responsibilities of the Trustees and the Independent Examiner and the basis of the report
As described on page 5, you, the charity's Trustees, are responsible for the preparation of the financial statements in accordance with the Charities Act 2011 and all other applicable law and with United Kingdom Generally Accepted Accounting Practice, applicable to smaller entities, and for being satisfied that the financial statements give a true and fair view.
The Trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the Governing Document for the conducting of an audit. As a consequence, the Trustees have elected that the financial statements be subject to independent examination.
Having satisfied myself that the financial statements are not required to be audited under any legal provision, or otherwise, and are eligible for independent examination, it is my responsibility to:-
a) examine the financial statements of the charity under Section 145 of the Act;
b) follow the applicable procedures in the Directions given by the Charity Commission under section 145(5)(b) of the Act.
Basis of Independent Examiner's Statement and scope of work undertaken
Since the charity's gross income exceeded £250,000, the charity's examiner must be a member of a body listed in section 145 of the Act. I confirm that I am qualified to undertake the examination because I am an authorised member of Chartered Certified Accountants , which is one of the listed bodies.
I report in respect of my examination of the charity's financial statements carried out under s145 of the Act. 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 setting out the duties of an independent examiner in relation to the conducting of an independent examination. An independent examination includes a review of the accounting records kept by the charity and of the accounting systems employed by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you, as Trustees, concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of charity legislation and that, on a test basis of evidence relevant to the amounts and disclosures made, the financial statements comply with the SORP.
The procedures undertaken do not provide all the evidence that would be required in an audit, and information supplied by the Trustees in the course of the examination is not subjected to audit tests or enquiries and does not cover all the matters that an auditor would consider in arriving at an opinion. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide
Consequently, I do not express an audit opinion on the view given by the financial statements, and in particular, I express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below.
I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report I obtained written assurances from the Trustees of all material matters.
Independent Examiner's Statement, Report and Opinion
Subject to the limitations upon the scope of my work as detailed above, I have completed my examination: and can confirm that:-
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The gross income of the charity in the year ended 31 March 2024 appears to exceed the sum specified in Section 145(3) of the Act, namely £250000, and that I am qualified to act as Independent Examiner in accordance with that section by virtue of my being a qualified member of Chartered Certified Accountants ;
This is a report in respect of an examination carried out under 145 of the Act and in accordance with Directions given by the Charity Commission under section 145(5)(b) of the Act which may be applicable;
and that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:-
accounting records were not kept in respect of the charity as required by with Section 130 of The Charities Act 2011;
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable 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;
have not been prepared in accordance with the methods and principles set out in the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP).
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 financial statements to be reached.
Signed:-
Olivia Higgins
Chartered Certified Accountants
255 Poulton Road Wallasey Merseyside CH44 4BT
This report was signed on _______ 2025
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Festival Church - Statement of Financial Activities for the year ended 31 March 2024
Statement of Financial Activities for the year ended 31 March 2024
| Current year Unrestricted Funds 2024 £ Income & Endowments from: Donations & Legacies A1 536,316 Charitable activities A2 30,513 Other trading activities A3 80 Investments A4 1,201 Total income A 568,110 Expenditure on: Charitable activities B2 484,079 Total expenditure B 484,079 Net income for the year 84,031 Net income after transfers A-B-C 84,031 84,031 Reconciliation of funds:- E Total funds brought forward 1,228,115 Total funds carried forward 1,312,146 SORP Ref Net movement in funds |
Current year Restricted Funds 2024 £ - - - - - - - - - - - - |
Current year Total Funds 2024 £ 536,316 30,513 80 1,201 568,110 484,079 484,079 84,031 84,031 84,031 1,228,115 1,312,146 |
Prior Year Total Funds 2023 £ 1,643,780 28,490 1,057 83 1,673,410 454,162 454,162 1,219,248 1,219,248 1,219,248 8,867 1,228,115 |
|---|---|---|---|
The 'SORP Ref' indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet.
A Statement of Total Recognised Gains and Losses is included as a primary statement in these accounts.
All the prior year transactions were unrestricted items, and no further analysis is required All activities derive from continuing operations
The notes attached on pages 12 to 25 form an integral part of these accounts.
All activities derive from continuing operations
The notes attached on pages 12 to 25 form an integral part of these accounts.
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Festival Church - Statement of Financial Activities for the year ended 31 March 2024
Festival Church - Resources applied in the year ended 31 March 2024 towards fixed assets for Charity use:-
| Funds generated in the year as detailed in the SOFA Resources applied on functional fixed assets Other applications of funds Net resources available to fund charitable activities |
2024 £ 84,031 - - 84,031 |
2023 £ 1,219,248 (1,315,268) - (96,020) |
|---|---|---|
The resources applied on fixed assets for charity use represents the cost of additions less proceeds of any disposals.
The notes attached on pages 12 to 25 form an integral part of these accounts.
Movements in revenue and capital funds for the year ended 31 March 2024
Revenue accumulated funds
| Unrestricted Funds 2024 £ Accumulated funds brought forward 1,228,115 84,031 1,312,146 Closing revenue funds 1,312,146 Summary of funds Unrestricted and Designated funds 2024 £ Revenue accumulated funds 1,312,146 Recognised gains and losses before transfers |
Restricted Funds 2024 £ - - - - Restricted Funds 2024 £ - |
Total Funds 2024 £ 1,228,115 84,031 1,312,146 1,312,146 Total Funds 2024 £ 1,312,146 |
Last year Total Funds 2023 £ 8,867 1,219,248 1,228,115 1,228,115 Last Year Total Funds 2023 £ 1,228,115 |
|---|---|---|---|
The notes attached on pages 12 to 25 form an integral part of these accounts.
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Festival Church - Statement of Financial Activities for the year ended 31 March 2024
Festival Church
Income and Expenditure Account for the year ended 31 March 2024 as required by the Companies Act 2006
| Income Income from operations Refunds from HMRC on gift aided donations Interest receivable Gross income in the year before exceptional items Gross income in the year including exceptional items Expenditure Charitable expenditure, excluding depreciation and amortisation Depreciation and amortisation Interest payable Realised losses on disposals of social investments which are programme related Total expenditure in the year Tax on surplus on ordinary activities Retained surplus for the financial year Net income after tax in the financial year Net income before tax in the financial year |
2024 £ 494,380 72,529 1,201 568,110 568,110 462,332 1,105 20,642 - 484,079 84,031 - 84,031 84,031 |
2023 £ 620,723 68,847 83 689,653 689,653 438,134 1,105 14,923 - 454,162 235,491 - 235,491 235,491 |
|---|---|---|
All activities derive from continuing operations
In accordance with the provisions of the Companies Act 2006, the headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities.
The notes attached on pages 12 to 25 form an integral part of these accounts.
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Festival Church - Balance Sheet as at 31 March 2024
| SORP | ||||||
|---|---|---|---|---|---|---|
| Note | Ref | 2024 | 2023 | |||
| £ | £ | |||||
| Fixed assets | A | |||||
| Tangible assets | 11 | A2 | 1,317,210 | 1,318,315 | ||
| Current assets | B | |||||
| Cash at bank and in hand | B4 | 320,439 | 239,225 | |||
| Creditors: amounts falling due within | ||||||
| one year | 12 | C1 | (6,914) | (2,920) | ||
| Net current assets | 313,525 | 236,305 | ||||
| Net assets | 1,630,735 | 1,554,620 | ||||
| Creditors: amounts falling due after more | ||||||
| than one year | 13 | C2 | (318,589) | (326,505) | ||
| The total net assets of the charity | 1,312,146 | 1,228,115 | ||||
| The total net assets of the charity are funded | by the | funds of the | charity, as follows:- | |||
| Restricted funds | ||||||
| Unrestricted Funds | - | - | ||||
| Unrestricted Revenue Funds | 17 | D3 | 1,312,146 | 1,228,115 | ||
| Designated Funds | 1,312,146 | 1,228,115 | ||||
| Total charity funds | 1,312,146 | 1,228,115 |
The 'SORP Ref' indicated above is the classification of Balance Sheet items as set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the SOFA..
The Trustees acknowledge their responsibilities for complying with the requirements of charity legislation with respect to accounting records and the preparation of accounts.
The charity is subject to Independent Examination under charity legislation, and the report of the Independent Examiner is on page 7.
The Trustees are satisfied that, although the charity is not registered under the Companies Acts, if it were so registered, it would be eligible to prepare accounts in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.
Timothy Rowlands
Trustee Approved by the board of trustees on 28 January 2025
The notes attached on pages 12 to 25 form an integral part of these accounts.
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Festival Church
Notes to the Accounts for the year ended 31 March 2024
1 Accounting policies
Policies relating to the production of the accounts.
Basis of preparation and accounting convention
The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice.
Going Concern
The charitable activities are entirely dependent on continuing grant aid and voluntary donations as well as trading revenues. As a consequence, the going concern basis is dependent on the future flow of these uncertain funding streams. Accordingly, the Trustees have obtained forecasts and, after reviewing the financial forecasts for future periods to 31 March 2023, the Trustees are satisfied that, at the time of approving the financial statements, it is appropriate to adopt the going concern basis in preparing the financial statements. Other than these matters, the Trustees are not aware of any material uncertainites about the charity's ability to continue as a going concern.
Risks and future assumptions
The charity is a public benefit entity.
Policies relating to categories of income and income recognition.
Nature of income
Gross income represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Categories of Income
Income is categorised as income from exchange transactions (contract income) and income from non-exchange transactions (gifts), investment income and other income.
Income from exchange transactions is received by the charity for goods or services supplied under contract or where entitlement is subject to fulfilling performance related conditions. The income the charity receives is approximately equal in value to the goods or services supplied by the charity to the purchaser.
Income from a non-exchange transaction is where the charity receives value from the donor without providing equal value in exchange, and includes donations of money, goods and services freely given without giving equal value in exchange.
Income recognition
Income, whether from exchange or non exchange transactions, is recognised in the statement of financial activities (SOFA) on a receivable basis, when a transaction or other event results in an increase in the charity’s assets or a reduction in its liabilities and only when the charity has legal entitlement, the income is probable and can be measured reliably.
Dividends are accrued when the shareholder’s right to receive payment is established.
Income subject to terms and conditions which must be met before the charity is entitled to the resources is not recognised until the conditions have been met.
All income is accounted for gross, before deducting any related fees or costs.
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Notes to the Accounts for the year ended 31 March 2024
Donated goods, facilities and services
Donated fixed assets are recognised at the current fair value. All such donations are recognised as donation income, and debited to fixed assets.
Donated goods that are not fixed assets are accounted for at a fair value, unless it is impractical to reliably measure the value of the donated items.
In the absence of any direct evidence of fair value of donated goods, then a value is derived from the cost of the item to the donor or, in the case of goods that are expected to be sold, the estimated resale value after deducting any anticipated costs of sales.
If it is impracticable to measure the fair value of goods donated for resale, or the costs of valuation outweigh the benefits, the donated goods are recognised as income when sold, with an equivalent amount being recognised as an expense.
The costs of goods donated for distribution to beneficiaries is deemed to be the fair value of those goods upon receipt. When the goods are distributed freely or for a nominal consideration, then the carrying amount is adjusted at the time of sale, to the value at the point of distribution and the adjustment is shown as a cost of donations made.
The carrying amount of any stock held for distribution is assessed for impairment at the reporting date. All donated goods are recognised as donation income, and debited to trading stock.When trading stock is subsequently sold, or appropriated to meet an expense, then the carrying value of the stock is recognised as an expense. In accordance with the SORP, goods donated for distribution to beneficiaries, or for consumption by the charity are included in 'legacies and donations '. Goods donated for resale are included in 'Income from other trading activities'
The cost of any stock of goods donated for distribution to beneficiaries is deemed to be the fair value of those gifts at the time of their receipt. If the goods held are to be distributed freely or for a nominal consideration, then the carrying amount is subsequently adjusted to reflect the lower of deemed cost adjusted for any loss of service potential and replacement cost. Replacement cost is the economic cost incurred if the charity was to replace the service potential of the donated goods at its own expense in the most economic manner.
Donated services and facilities (including seconded staff and use of property) are included in the accounts on the basis of the value of the gift to the charity.
All donated services and facilities are recognised as donation income when received,(provided the value of the gift can be measured reliably) and recognised as an expense with an equivalent value.
Policies relating to expenditure on goods and services provided to the charity.
Volunteers
In accordance with the SORP, and in recognition of the difficulties in placing a monetary value on the contribution from volunteers, the contribution of volunteers is not included within the income of the charity.
However, the trustees value the significant contribution made to the activities of the charity by unpaid volunteers and this is described more fully in Note7.
Policies relating to assets, liabilities and provisions and other matters.
Debtors
Debtors are measured at their recoverable amounts at the balance sheet date.
Creditors and provisions
If this applies , enter suitable text to comply with SORP 10.81. Describe the basis on which creditors and provisions for liabilities and charges are recognised and measured
Pensions - defined contribution schemes
The charity operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
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Notes to the Accounts for the year ended 31 March 2024
Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
There are no endowment funds.
2 Liability to taxation
The Trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 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 on the specific charitable objects of the charity and for no other purpose. Value Added Tax is not recoverable by the charity, and is therefore included in the relevant costs in the Statement of Financial Activities.
3 Winding up or dissolution of the charity
If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.
4 Significance of financial instruments to the charity's position
There are no significant implications of such matters.
5 Net surplus before tax in the financial year
| The net surplus before tax in the financial year is stated after charging:- Depreciation of owned fixed assets 6 Interest payable Loan interest |
2024 £ 1,105 2024 £ 20,642 |
2023 £ 1,105 2023 £ 14,923 |
|---|---|---|
7 The contribution of volunteers
We depend heavily on the support of volunteers. Almost every event and activity we have undertaken has been carried out either entirely by them or with their help. Over 200 volunteers committed countless hours to our activities during the year. Their support is valued enormously. The arrangements with volunteers are difficult to value in monetary terms and have not been recognised in the Statement of Financial Activities. The volunteers and the charity accept and agree that no contract of employment is created by these arrangements.
8 Staff costs and emoluments
| Salary costs Gross Salaries Total salaries, wages and related costs |
2024 £ 233,376 233,376 |
2023 £ 269,457 269,457 |
|---|---|---|
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Notes to the Accounts for the year ended 31 March 2024
9 Defined contribution pension schemes
The charity operates a defined contribution pension scheme, the costs of which are shown above.
Any liabilites and assets associated with the scheme are shown under debtors and creditors.
10 Remuneration and payments to Trustees and persons connected with them
Timothy Rowlands received remuniration during the year. He was paid for the role as Senior Pastor. Emily Rowlands is employed as the Pathways Manager and is paid for that role.
11 Tangible fixed assets
| Current Year Cost At 1 April 2023 Additions At 31 March 2024 Depreciation At 1 April 2023 Charge for the year At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 Prior Year Cost 01 April 2022 Additions 01 April 2023 Depreciation 01 April 2022 Charge for the year 01 April 2023 Net book value 01 April 2023 01 April 2022 |
Land and Buildings £ 1,315,000 - 1,315,000 - - - 1,315,000 1,315,000 Land and Buildings £ - 1,315,000 1,315,000 - - - 1,315,000 - |
Plant & Machinery £ 4,420 - 4,420 1,105 1,105 2,210 2,210 3,315 Plant & Machinery £ 4,152 268 4,420 - 1,105 1,105 3,315 4,152 |
Motor Vehicles £ - - - - - - - - Motor Vehicles £ - - - - - - - - |
Total £ 1,319,420 - 1,319,420 1,105 1,105 2,210 1,317,210 1,318,315 Total £ 4,152 1,315,268 1,319,420 - 1,105 1,105 1,318,315 4,152 |
|---|---|---|---|---|
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Festival Church
Notes to the Accounts for the year ended 31 March 2024
| 12 Creditors: amounts falling due within one year Other creditors 13 Creditors: amounts falling due after one year Bank loans and overdrafts 14 Income and Expenditure account summary At 1 April 2023 Surplus after tax for the year At 31 March 2024 15 No related party transactions |
2024 £ 1,230 2024 £ 318,589 2024 £ 244,358 84,031 328,389 |
2023 £ 2,920 2023 £ 326,505 2023 £ 8,867 235,491 244,358 |
|---|---|---|
There were no transactions with related parties in the year , except with regard to trustees' remuneration, trustees' expenses
16 Particulars of how particular funds are represented by assets and liabilities
| At 31 March 2024 Tangible Fixed Assets Current Assets Current Liabilities Long Term Liabilities At 1 April 2023 Tangible Fixed Assets Current Assets Current Liabilities Long Term Liabilities |
Unrestricted funds £ 1,317,210 320,439 (6,914) (318,589) 1,312,146 Unrestricted funds £ 1,318,315 239,225 (2,920) (326,505) 1,228,115 |
Designated funds £ - - - - Designated funds £ - - - - - |
Restricted funds £ - - - - - Restricted funds £ - - - - - |
Total Funds £ 1,317,210 320,439 (6,914) (318,589) 1,312,146 Total Funds £ 1,318,315 239,225 (2,920) (326,505) 1,228,115 |
|---|---|---|---|---|
16
Draft 13/1/25
Festival Church
Notes to the Accounts for the year ended 31 March 2024
17 Change in total funds over the year as shown in Note 16 , analysed by individual funds
| Unrestricted and designated funds:- Unrestricted Revenue Funds Total unrestricted and designated funds Total charity funds |
Funds brought forward from 2023 £ 1,228,115 1,228,115 1,228,115 |
Movement in funds in 2024 See Note 18 £ 84,031 84,031 84,031 |
£ - - - Transfers between funds in 2024 |
Funds carried forward to 2025 £ 1,312,146 1,312,146 1,312,146 |
|---|---|---|---|---|
18 Analysis of movements in funds over the year as shown in Note 17
| Unrestricted and designated funds:- Unrestricted Revenue Funds |
Income 2024 £ 568,110 568,110 |
Expenditure 2024 £ (484,079) (484,079) |
Other Gains & Losses 2024 £ - - |
Movement in funds 2024 £ 84,031 84,031 |
|---|---|---|---|---|
19 The purposes for which the funds as
Unrestricted and designated funds:-
Unrestricted Revenue Funds
These funds are held for the meeting the objectives of the charity, and to provide reserves for future activities, and , subject to charity legislation, are free from all restrictions on their use.
20 Ultimate controlling party
The charity is under the control of its legal members.
- Every member of the charity has unlimited joint and several liability for the debts of the charity.
17
Draft 13/1/25
Festival Church
Detailed analysis of income and expenditure for the year ended 31 March 2024 as required by the SORP 2015
This analysis is classsified by conventional nominal descriptions and not by activity.
21 Donations, Grants and Legacies
| Donations and gifts from individuals Total donations and gifts from individuals Refunds from HMRC on gift aided donations Small donations individually less than £1000 Anonymous donor 1 Anonymous donor 2 |
Current year Unrestricted Funds 2024 £ 364,734 72,529 36,000 - 473,263 |
Current year Restricted Funds 2024 £ - - - - - |
Current year Total Funds 2024 £ 364,734 72,529 36,000 - 473,263 |
Prior Year Total Funds 2023 £ 317,183 68,847 35,600 10,740 432,370 |
|---|---|---|---|---|
Donations and gifts from individuals (Include HMRC refunds on gift aided donations) - Prior Year analysis
| Prior Year Prior Year Unrestricted Funds Restricted Funds 2023 2023 £ £ Prior year 432,370 - Current year Current year Unrestricted Funds Restricted Funds 2024 2024 £ £ - - 35,500 - 35,500 - Revenue grants from government and public bodies - Prior Year analysis Prior Year Prior Year Unrestricted Funds Restricted Funds 2023 2023 £ £ Prior Year 3,636 - Total public sector revenue grants Prestatyn Town Council Denbighshire C.C - roof grant Revenue grants from government and public bodies |
Prior Year Total Funds 2023 £ 432,370 Current year Total Funds 2024 £ - 35,500 35,500 Prior Year Total Funds 2023 £ 3,636 |
Prior Year Total Funds 2023 £ 3,636 - 3,636 |
|---|---|---|
18
Draft 13/1/25
Festival Church
Detailed analysis of income and expenditure for the year ended 31 March 2024 as required by the SORP 2015
| Total private sector revenue grants Towyn Church New Life Pentecostal Church Revenue grants and donations from non public bodies Prestatyn Alive Church Festival Church Small grants individually less than £1000 Chester Festival Church Derby Festival Church C&V SUP Conwy Gwynt Y Mor |
Current year Unrestricted Funds 2024 £ 596 - - - - - - 22,290 4,667 27,553 |
Current year Restricted Funds 2024 £ - - - - - - - - - - |
Current year Total Funds 2024 £ 596 - - - - - - 22,290 4,667 27,553 |
Prior Year Total Funds 2023 £ - 64,697 35,322 42,098 35,580 3,551 42,769 - - 224,017 |
|---|---|---|---|---|
Revenue grants and donations from non public bodies (Include Gift Aid donations from subsidiaries) - Prior Year analysis
| Prior Year | Prior Year Unrestricted Funds 2023 £ 224,017 |
Prior Year Restricted Funds 2023 £ - |
Prior Year Total Funds 2023 £ 224,017 |
|---|---|---|---|
19
Draft 13/1/25
Festival Church
Detailed analysis of income and expenditure for the year ended 31 March 2024 as required by the SORP 2015
| 5 | 5 | |||
|---|---|---|---|---|
| Current year Unrestricted Funds 2024 £ Capital grants from non public bodies - - - - - - Capital grants from non public bodies - Prior Year analysis Prior Year Unrestricted Funds 2023 £ Prior Year 983,757 Total Donations, Grants and Legacies Total Donations, Grants and Legacies A1 536,316 Prior year Unrestricted Funds 2023 £ Total Donations, Grants and Legacies A1 1,643,780 Small grants individually less than £1000 Festival Church Chester Festival Church Prestatyn Festival Church Llandindod Total private sector capital grants Festival Church Towyn |
Current year Restricted Funds 2024 £ - - - - - - Prior Year Restricted Funds 2023 £ - |
Current year Total Funds 2024 £ - - - - - - Prior Year Total Funds 2023 £ 983,757 |
Prior Year Total Funds 2023 £ - 231,524 268,032 159,201 325,000 983,757 1,643,780 |
|
| 536,316 Unrestricted Funds 2023 £ 1,643,780 |
- Restricted Funds 2023 £ - |
536,316 Prior Year Total Funds 2023 £ 1,643,780 |
20
Draft 13/1/25
Festival Church
Detailed analysis of income and expenditure for the year ended 31 March 2024 as required by the SORP 2015
22 Income from charitable activities - Trading Activities
| Current year Current year Unrestricted Funds 2024 £ Primary purpose and ancillary trading 2,191 28,322 30,513 23 Current year Current year Unrestricted Funds 2024 £ Total income from charitable trading 30,513 Total from charitable activities A2 30,513 24 Income from other, non charitable, trading activities Current year Unrestricted Funds 2024 £ 80 Total from other activities A3 80 25 Investment income Current year Unrestricted Funds 2024 £ Bank Interest Receivable 1,201 Total investment income A4 1,201 Letting of property for charitable purposes Total Primary purpose and ancillary trading Sale of goods and services in accordance with the charity's objects Total Income from charitable activities Trading activities to raise funds for the charity - Coffee shop |
Current year Current year Unrestricted Funds 2024 £ Primary purpose and ancillary trading 2,191 28,322 30,513 23 Current year Current year Unrestricted Funds 2024 £ Total income from charitable trading 30,513 Total from charitable activities A2 30,513 24 Income from other, non charitable, trading activities Current year Unrestricted Funds 2024 £ 80 Total from other activities A3 80 25 Investment income Current year Unrestricted Funds 2024 £ Bank Interest Receivable 1,201 Total investment income A4 1,201 Letting of property for charitable purposes Total Primary purpose and ancillary trading Sale of goods and services in accordance with the charity's objects Total Income from charitable activities Trading activities to raise funds for the charity - Coffee shop |
Current year Restricted Funds 2024 £ - - - Current year Restricted Funds 2024 £ - - Current year Restricted Funds 2024 £ - - |
Current year Total Funds 2024 £ 2,191 28,322 30,513 Current year Total Funds 2024 £ 30,513 30,513 Current year Total Funds 2024 £ 80 80 |
Prior Year Total funds 2023 £ 17,782 10,708 28,490 Prior Year Total Funds 2023 £ 28,490 28,490 Prior Year Total Funds 2023 £ 1,057 1,057 Prior Year Total Funds 2023 £ 83 83 |
|---|---|---|---|---|
| Current year Unrestricted Funds 2024 £ 1,201 1,201 |
Current year Restricted Funds 2024 £ - - |
Current year Total Funds 2024 £ 1,201 1,201 |
21
Draft 13/1/25
Festival Church
Detailed analysis of income and expenditure for the year ended 31 March 2024 as required by the SORP 2015
26 Expenditure on charitable activities - Direct spending
| Current Year Total direct spending B2a Projects Reimbursments Gross wages and salaries - charitable activities Rows Pathways Support for Missions projects Circles Professional Indemnity insurance Pastoral care |
Current year Unrestricted Funds 2024 £ 233,376 16,469 24,349 1,769 1,215 12,126 53,945 1,465 9,720 354,434 |
Current year Restricted Funds 2024 £ - - - - - - - - - - |
Current year Total Funds 2024 £ 233,376 16,469 24,349 1,769 1,215 12,126 53,945 1,465 9,720 354,434 |
Prior Year Total Funds 2023 £ 269,457 - 13,514 184 923 7,578 19,621 11,003 6,818 329,098 |
|---|---|---|---|---|
27 Support costs for charitable activities
| Current year Current year Current Year Unrestricted Funds Restricted Funds 2024 2024 £ £ Premises Expenses 2,049 - 2,439 - 41,625 - 5,494 - 21,926 - Administrative overheads 4,181 - 4,746 - 297 - - - 487 - 23,983 - Professional fees paid to advisors other than the auditor or examiner Legal fees 671 - Financial costs - - Loan interest 20,642 - 1,105 - Support costs before reallocation 129,645 - Total support costs - Current Year 129,645 - The basis of allocation of costs between activities is described under accounting policies All the expenditure in the prior year was unrestricted. Bank charges Rates and water charges Equipment,repairs,expenses and maintenance Stationery and printing Cleaning and waste management Light heat and power Premises repairs, renewals and maintenance Telephone, fax and internet Room Hire Equipment expenses Software licences and expenses Depreciation & Amortisation in total for Shared operating costs |
Current year Total Funds 2024 £ 2,049 2,439 41,625 5,494 21,926 4,181 4,746 297 - 487 23,983 671 - 20,642 1,105 129,645 129,645 |
Prior Year Total Funds 2023 £ 1,580 144 33,123 4,785 35,074 3,687 2,448 53 1,516 - 22,632 3,805 189 14,923 1,105 125,064 125,064 |
|---|---|---|
22
Draft 13/1/25
Festival Church
Detailed analysis of income and expenditure for the year ended 31 March 2024 as required by the SORP 2015
28 Total Charitable expenditure
| Current Year Total direct spending B2a Total support costs B2d Total charitable expenditure B2 |
Current year Unrestricted Funds 2024 £ 354,434 129,645 484,079 |
Current year Restricted Funds 2024 £ - - - |
Current year Total Funds 2024 £ 354,434 129,645 484,079 |
Prior Year Total Funds 2023 £ 329,098 125,064 454,162 |
|---|---|---|---|---|
All the expenditure in the prior year was unrestricted.
| Prior Year Total direct spending B2a Total support costs B2d Total charitable expenditure B2 |
Prior Year Unrestricted Funds 2023 £ 329,098 125,064 454,162 |
Prior Year Prior Year Restricted Funds Total Funds 2023 2023 £ £ - 329,098 - 125,064 - 454,162 |
|---|---|---|
23