THE BAY CHURCH (NORTH EAST) CIO FINANCIAL STATEMENTS 31 MARCH 2024 C 11 U R C 11 Charity Numbor 1189749 READ, MILBURN & CO Chartered Accountants 71 Howard Street, North Shields Tyne & Wear, NE30 1AF •m•ll.. Snlo dmllbum.¢o. . 1•1: 01912570355- TA*b.' **w.r••dmillwrn.¢o.uk THE BAY CHURCH {NORTH EAST) CIO INDEX TO FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 CONTENTS PAGE Trustees Annual Report detailing:_ Structure. Govemment & Management Objective & Activities, Achievements & Performance Responsibilities of the Twstees- Independent Examinerfs Report to the Trustees Statement of Financial Activities (incorporaling the Income and expenditure account) Balance Sheet Notes to the Financial Statements 9-12 THE BAY CHURCH (NORTH EAST) CIO TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2024 TRUSTEES ANNUAL REPORT The trustees, who are also directors for the purposes of company law. have pleasure in presenting their report and the unaudited financial statements of the charity for Ihe year ended 31 March 2024. REFERENCE AND ADMINISTRATIVE DETAILS Registered charity name The Bay Church (North East) CIO Charity rogistratlon number 1189749 Main Church Addross: The Bay Church 109-111 Whi118y Road Whitley Bay Tyne and Wear NE26 2ET Web Address: wvM.thebaychurch.co.uk THE TRUSTEES The trustees who served the church during the year were as follows.. David Vickers James Longfield {from 25 April 2023) Alex Ross (to April 2023) Juliet Birch-machin Ilo May 2023) Peter Wigglesworth (to January 2024) INDEPENDENT EXAMINER David Hodgson, M8E, FCA. AC18 Read, Milbum & Co Chartered Accountants 71 Howard Street North Shields Tyne and Wear NE30 1AF THE BAY CHURCH (NORTH EAST) CIO TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Organisation A board of trustees of up lo 5 members. who meet regularly to administer the charity. During 2023124 the board of trustees met every 6 weeks lo manage the legal obligations and charitable objectives of The Bay ChurGh (North East> CIO Thè Leadership Team during the reporting period comprised.. David Vickers Carl Harris Leah Harris Abi 8ryanl Tom Bryant Volunteer leader- Senror Leader Volunteer lead8r Volunteer leader Volunteer leader Volunteer leader Alan Dickinson, Apostolic Leader Full time employed Rlsk and Financial Managemènt The trustees have examined the major strategi¢. business and operational nsks which the charily face5 and confirm that systems have been established lo enable regular reports lo be produced so that the necessary steps can be taken to lessen these risks. The Trustees confirm that there have been no serious incidents during this financial period. The trustees examined the church finance reports every six weeks. preparèd by our financial adminislrator Dawn Briggs. The charity maintained a healthy savings position during the period, and balanced planned income and expendilLJre against our 12 month budget. This process was ovèrseen by Ihe Iruslees, led by David Vickers as the appointed Treasurèr for the period and signed off by all trustees. We use Google's G Suite for the secure, cloud-based storage of all charity documentation. W8 have reviewed and complied with all GDPR data requirements for handling personal infomialion. During 2023124 the Safeguarding Leads for the organisation were Juliet Birch-machin (trusteel as Safeguarding Lead, and Lyn Wallwork Irelired social services professionall as appointed Deputy Safeguarding Lead. There were no safeguarding incidenls during the reporting period. Investment policy Under the memorandum and articles of association the charity has the power to make any investments that Ihe trustees see fit. No major investments took Pla￿ during the reporting period. THE BAY CHURCH (NORTH EAST) CIO TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2024 ACTIVITY VSsion Statemènt and Core Values During the reporting period The Bay Church operated under a Vision Statement and sèt of Core Values. Vision Statement We believe The BAY Church is called to be a Kingdom-focused familywith a heartto encounter God and s88 revival in our region and beyond by taking His love, presence and power wherever we go. Core Valuès Love Intimacy with God Belonging through loving and being loved Honouring children and young people Presence Carriers of His presence Sent out Freedom Shaped by the Word of God wer EqLJipped with power for purpose Raising up the next generation of leaders Believing for the impossible Being authentic believers A lifestyle of generosity RESPONSIBILITIES OF THE TRUSTEES Company law requires the trustèes to prepare financial statements for each financial year, which give a Irue and fair view of the slate of affairs of the charitable company and of the incoming resour￿5 and application of resoLJrces, including the income and expenditure, of the ¢harilable company for that period. In preparing these fsnancial statem8nts. the trustees are required to.. select suitable accounting policies and then apply them consistentty.. observe the methods and principles in the Charities SORP-, make judgements and estimates that are reasonable and prudent., state whether applicable UK Accounting Standards have been followed, subject lo any material departures disclosed and explained in the financial slaternents- THE BAY CHURCH {NORTH EAST) CIO TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2024 prepare the linancial siatements on the going concern basis 4Jnless it is inappropriate lo presume that the char41able company will continue in operation. The trustee$ are responsible lor keeping proper accounting records that disclose with reasonable a¢CUTacy at any time the financial position ol the charitable company and enable them lo ensure thai Ihe financial staiements ¢(knply wrth the CoMpan￿S Act 1985. The trustees are also responsible lor saleguarding ihe assets ol the chaiilable company and hence lor iaking reasonable steps lor the prevention and dete￿￿ of fraud and other irregularities. ACCOUNTApirs David Hodgson. MBE. FCA. ACIB ol Read. Milbum & Co, Chartered Accountants 0177 Howard Street, North Shields. NE30 1AF conlinu8s lo acl as Acccwjntani and Independent Examiner lo the charity. Church Roglstorod offi￿. 109-111 Whilley Road Whitley Bay Tyne and Wear NE26 2ET S￿ned by order of the trustees David Vickers Treasurer Trust8• Dated.. 11 November 2024 THE BAY CHURCH (NORTH EAST) CIO INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BAY CHURCH (NORTH EAST) YEAR ENDED 31 MARCH 2024 I report lo the charity trustees on my examinalion of the a¢rnunts of The Bay Church (North East) CIO for the year ended 31. March 2024. Responsibilltles and basis of reporL As the charity trustees of the Charity, you are responsible for the preparation of the accounts in a￿ordanCe with the requirements of the Charities Act 2011 {-the Act.). I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 14515){b) of the Act. Independent examiner's statement l am qualified lo undertake the examination by being a qualified member of th8 Institute of Chartered Accountants in England and Wales. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause lo beli8ve thal in any material respect.. 1. The a¢¢ounling records were not kept in accordance with section 130 of the Charities Act.. or 2. The accounts did not accord with the accounting records- or 3. The accounts did not comply with the applicable requirements conceming th8 form and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a "true and fairf, view which is not a matter considered as part of an independent 8xaminalion. I have no concerns and have come across no other mallers in connection with the examination to which attention should be drawn in this report in order to enable proper underslanding of th8 accounts to be reached. DAVID HODGSON, MBE, FCA. ACIB Chartered Accountant 71 Howard Street North Shields Tyne & Wear NE30 1AF THE BAY CHURCH (NORTH EAST) CIO STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 31 MARCH 2024 Total Funds 2024 Total Funds 2023 Note INCOMING RESOURCES Incoming resources from generating fund$-. Voluntary Income Investment income 29.996 109,047 3,476 1,332 TOTAL INCOMING RESOURCES £33,472 £110,379 ¥E¥E¥EE RESOURCES EXPENDED Charitable aelivities Governance costs 160.5221 179,7761 {3.228) 1 7681 TOTAL RESOURCES EXPENDED £{63,7SOI £180,544) NET INCOMING RESOVRCES FOR THE YEAR {30,2781 29,835 TOTAL FUNDS BROUGHT FORWARD 527,110 497,275 TOTAL FUNDS CARRIED FORWARD £496.832 £527.110 The Slalemenl of Finan¢ial Activities includes all gains and losses in the year and therefore a stal¢mgnl of total recognised gains and losses has nol been prepared All of the above amounts r61010 to conlinuing activities The notes on pages 9 10 12 form part of Ihese financial statements THE BAY CHURCH (NORTH EAST) CIO BALANCE SHEET AS AT 31 MARCH 2024 Total Fund¥ 2024 Total Fund5 2023 Note FIXED ASSETS Tangible asset5 7-7a 188.605 189.432 CURRENT ASSETS Cash at Bank Cash In Hand Debtors- Tax on Gift Aid r•lundab 304.470 11 4238 321.054 17,081 308,719 338.146 CREDITORS Amounts due within one year 1 4921 1 4681 NET CURRENT ASSETS 308.227 337,678 NET ASSETS £496.832 É527.110 FUNDS Unrestriete# In¢om* fund$ 10 496.832 527, 110 TOTAL FUNDS £496,832 £527.110 Th• financial statèmènts w•r• approvad by thè trust•¢$ owt 21/I/LS and stgn8d on thair behaw IOAVID VICKERSI IJAMES LONGFIELDI For Th• 8ay Church (North East) The notès on pa9e5 9 to 12 form part of these financial stat•m•nts THE BAY CHURCH (NORTH EAST) CIO NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 Note 1 _ ACCOUNTING POLICIES la) Basls ol preparatlon The financial stslemenls of the Charity, which is a public benefit entity under FRS 102. have been prepared in accordance with the Charities SORP IFRS1021 "Accounting and Reporting by Charities.. Statement of Recommended Praclice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applKable in Ihe UK and Republic of Ireland IFRS1021 leffeclive 1 January 20151", Financial Reporting Slandard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Ihe Charities Act 2011. The financial statements have been prepared under the hi810ri￿1 cost convention. (bl Income recognltlon All income is recognised once the charity has enlillemenl lo the income, it is probable that the income will be received and the income receNable can be measured reliably. Donations are recognised when the charity has receNed the donation or the ¢harily has been notified in writing of both the amount and settlement dale. The financial slalemenls have bèen prepared in accordance with the Slalemenls of Recommended Practice.. Accounting and Reporting by Charities ISORP 2005) issued in March 2005 and applicable UK Accounting Standards and th6 chari￿$ Act 2011. The value of services provided by vdunleers has not been included Income from investments is included in the year in which rt is receNed Icl Expondlture Liabilities are recognised as expendiiure as soon as there is a legal or conslruclive obligation committing the charity lo Ihal expenditure, il is probable that a Iransfef ol economic benefits will be required in selllemenl and the amount of the obligation can be measured reliably. ExpendilLtTe is accounted for on a cash basis and has been classified under headings and aggregate all cost related lo the category. Where costs cannot be directly attributsble lo particular headings they have been allocated lo activities on a basis consistent with Ihe use of Ihe resources. (dl Flx•d As#ets All fixed 89sels are inits.ally recorded al cost lel Depreclatlon Depreciation is caleulaled so as lo write ofl the costs of assets. lesg estimated résidual value, over the useful economic lrfe of the assets as follows'.- Equipment, Fixtures & Fittings 15% reducing balance basis Extensive building renovations and improvements to the freehdd property have been carried out during the recent years. Accordingly. the Trustees consider the propety lo be well maintained and are satisfied that provision for depreciation ol the property lo be immaterial and accordingly no provision has been made. This is a departure from the requirements of Standard Aeeounting Practices, however. the Iruslees consider that this policy results in the accounts giving a true and fair VFew. THE BAY CHURCH (NORTH EAST) CIO NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 lfj Taxation The charity is exempt from tax on rts charFtable ath"vities (gl Realls•d galns and 10s$o$ There has been no realised gains or losses on investments during the year 2024 2023 Note 2. VOLUNTARY INCOME General Offerings Special Offerings Food Bank SOZO Donations Mercy Fund Tax Refunds on Gift Aid 24,524 1.570 91.389 557 20 240 3,662 17,081 29.996 £109.047 Note 3. INVESTMENT INCOME Bank Interest Received £ 3,476 £1,332 Note 4 . CHARITABLE ACTIVITY COSTS Rent Light, Heat a Water Repairs & Maintenance Insulance Offico Adminislralion Costs Bank Charges Telephone & Internet TV Licence Employment Costs Parish Nursing Cleaning s￿la1 Aelivities Gifts & Donations Mercy Fund Donations Children's Work Adult Ministries Audiolvideo Costs Core Team Catering Depreciation 1.940 6,684 1,590 1,171 3,809 154 595 123 35,613 2,400 4.873 236 11,240 8,060 517 1,383 4,006 132 629 27,541 2,400 4,090 6.840 313 699 24 1.481 820 760 827 513 1.874 1,849 3,156 983 973 £60,522 £79.776 io THE BAY CHURCH (NORTH EAST) CIO NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 Note 5 - GOVERNANCE COSTS 2024 2023 Accountancy Fees Legal Fees 492 2.736 468 300 £3,228 £768 Note 6- NET INCOMING RESOURCES FOR THE YEAR This slated after charging'.- Depreciation £827 £973 Note 7- TANGIBLE FIXED ASSETS Equipment Fixtures & Fittin9S Freehold Property Total Cost Cost 8lfwd Addilions during year 183,918 52.244 236,162 Cost C￿d 183,918 52.244 236,162 D•preclatlon Depreciation Blfvvd Charge for the year 46.730 827 46,730 827 Deprecialion Clfvvd 47.557 47,557 Net Book ValLtes As al 31 51 March 2024 As at 1 St April 2023 £183.918 £183.918 £4,687 £188,60S £5,514 £189,432 Note 7a- CAPITAL COMMITMENTS Al the year end, the Charity has no capilal commitments. Note 8. CREDITORS 2024 2023 Amounts falllng duo wlthin on• y•ar Accrued Accountancy Charges 492 468 li THE BAY CHURCH (NORTH EAST) CIO NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 2024 2023 Noto 10 - UNRESTRICTED INCOME FUNDS Opening balance Nel Incoming resources for the year 527,110 497,275 {30,2781 29.835 Closing balance 496.832 527,110 12