REGISTERED CHARITY NUMBER: 1190784 Re rt of the Trustees and Flnancl I Statements for Iho Y8ar Efjd 31 De¢ember 2 fo Hortford Tow Chu Page 1 of16
Hertford Town Church Contents of the Flnancial Statemonts for the Y ar Ended 31 December 2023 Pag• Report of th¢ Trustees Independent Examlnefs Report statement ot Flnanclal Actfvities Balance Sheet Notes to the Flnancial Statgmonls 10 to 16 Page 2 of 16
Hertford Town Church Re ort of the Trustees h Year Ended 31 December 20 The trustees present Iheir report with Ihe financial statements of the charity for the year ended 31 December 2023. The Iruslees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities prepaiing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (published Octr)ber 20191. OBJECTIVES AND ACTivrriES Objectlves and alm8 The purposes of the church are." 1. The advancement of the Christian faith in accordance with the Basis of Faith primarity but not exclusively within Hertlord and the surrounding neighbourhood," and 2. Such other charitable purposes as shall, in the opinion of the charity trustees. put into practice the Chrislian faith in accordance wrfh the Basis of Faith. including but not limited lo.. the prevention and relief of need, hardship and sickness", the advancement of education,. and the provision of facilities in the inte$tS of social wellare for recation or other leisure time occupation of individuals who have need of such facilits.es by reason of their youth, age infirmty or disability. financial hardship or social ¢ircumstan¢es with the object of improving their conditions of lrfe provided that the advanment of such purposes must be undertakon in a manner that is consistent with the Doctrinal Distinctives and Ethical Statements as may be adopted and amended by the church from time to time. Page3of16
Hertford Town Church Re rt of the Trustees for the Year Ended 31 Decembgr 2023 OBJECTIVES AND ACTIVITIES (continued) The church's mlnistries In fulfilment of these purposes, the church appointed Josh as pastor in April 2023, responsible for maintaining a regular ministy and pastoral care for the congregation. Extensive use is made of the regular church attendees who willingty volunteer their time lo, for example, support children's work. undertake visrtslphone Calls tr) church members and other regular attendees, provide oversight, maintain the premises and serve in the wider communty. The chur¢h ha$ brought benefit through.. 1. A programme of meetings and events which seeks to deepen the spiritU81 INes of Ihose attending the church. help them lo live out the Christian life where they live and work, and provide opportunities for other members of the public lo hear the Christian gospel. Our meetings included.. moming services each Sunday (now liv&stre8med for Ihose not able to meet in per50n). A nearby chufch hall 1$ rented as the church had outgrown the Space in the church building-. morning Sunday sthool., a mid-week programme, including meetings for b)th prayer and teaching,. a summer holiday club for ChildTh monthly church lunches,. and Christmas carol services. 2. Encouragement lo those who attend the church to PTay for the wider church. the needs of the worhj and to volunteer their time in the name of Christ to serve the needs of the communfy. Prayer meeb.ngs were largely held in person. occasionally online. 3. Buildings whtch provide for Sunday worship and facilitate meetings throughout the week and for the encouragement of the Christian faith amongst all ages within the local commun. These were enhanced with the provision of equipment to enable the live broadcast of services lo those unable to attend in per30n. Publ1¢ b8nefft The Trustees are aware of the Charity Commission's guidance on public benefit IPB1). They consider that the church's objectives and activitses, and their de¢ision-making in relation thereto, are and have been consistent with that guidance. Grant makfng There are specialty announced appeals with the monies donated being given directly to the organisation cor¢cerned- and when it spans a financial year end, some of the in¢ome is shown in one financial rert. with the remainder of the income and the grant being made in the following years financi81 report. Research into a suitable project is undertaken by the Trustees and the project approved by the Trustees. Reports are received from the organisalion on the benefit derived from that giving. Such grants are made as reslricled gffts and. for the period covered by this annual report, were for the following purposes.. - Christmas 2022.. Operation Mercy - Christmas 2023.. Interserve ACHIEVEMENT AND PERFORMANCE Charitable a¢tivities During 2023, the church has continued lo focus on tsaching the Bible and promoting prayer and fellowship, including through the leaching and outreach ministries outlined above. In addition to weekly serviees and mtd4veek fellowship and teaching, there were two bapl$ms12022: one), no weddings12022'. one) and no bJnerals12022'. one) durin9 the year. Page4of16
Herttord Town Church Rg ort of the Trustees for the Year Ended 31 December 2023 FINANCIAL REVIEW Prin¢ip•l funding sources The church is dependent on donations made by those who attend the church and other donors. The amount given has steadily increased throughout 2023 as the number attending the chur¢h has increased. For the period ended 31 December 2023 the church received Unstricted donations of £49,716 plus restrrted giving of £4.218. In addition. Spicer Street Church provided support of £33,750 in 2023 towards the cost of a pastor. Invostment pollcy and objectives The church's investment assets compTtse the church building. The value ofthe propety is reviewed from time to time by the Trustees and Treasurer to ensu that the market valye is greater than the investment. The remaining financial as5els of the church a held in an instsnt access bank current account. There is no exposure to stock market shares. Regerves poIIcy The Trustees policy 1$ to maintsin a reserve of at least three months, expenditure. It rs not the policy of the church to build up general reserves, preferring to rely on God's providence to meet needs as th8y arise. Property and Land The propety and land consisting of Hertford Town Church are owned by the church. FUTURE PLANS Several ¢tems are proposed for 2024. These have aTisen through an ongoing review of activibes and a deslre to enable those outside the church to understand the gospel of Jesus Christ. Such plans include= - Continuing to share the Christian farth with others., - Continuing to welcome the new people who are attending the church.. Facilitating fellowship amongst those attending the church.. - Our firsl Easter holiday club and our third summer holiday club for children.. - Commencement of Town Tots, a weekly group for parentslcarers with chitdren up to the age of 5.. - A church away day,. and - The continued rolling out of affiliate membership at the church to help identify who belongs to the church. to help with govefnance, and to encourage seNice in the church. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The church's governing document is a written Constitution approved and adopted at a Trustees members, meeting held on 21 July 2020. The church is a Charitable Incorporated Organisation. with registration number 1190784. Re¢ruitment and appointment of now Iru$teo8 Appointrnent of Trustees is Set out in the Constitution. Tnjstees are appointed by the Trustees and serve as elders and a pastor would beGome a tfustee on appointment by virtue of their role as an elder. Recommendakn'ons for new Trustees are brought lo the tnjstees meets'ng by the existing trustees. They are appointed al a Ttustees meettng via a resolution that must be pa55ed by a 75°k majority of the quorum then present. Or9anisalional structure The Trustee5 arKI Treasurer regulady review and dis¢u$$ the affairs of the church. Inductlon and tralnlng of new offl¢er8 New Tnjstees and Treasurers are briefed as necessary on their obligats'ons under charity law, the Con$titutKJn and the decision-making processes of the church. Safeguarding Hertrord Town Church's ministy for children and young peopte operates under 8 Safeguarding Policy and Procedures tailored to the needs of that ministry. The Policy and the Procedures were reviewed and adopted by the Tfustees. The Truslees and all Sunday school volunteers receNe specific training on safeguarding children and young people. Pro$Se$ are in place for the proper handling of concerns about the welfafe of Children and young people and referral to aulhoriknes where necessary or appropriate. Page 5 of16
Hertford Town Church ort of the Trustees for the Year E d e¢e REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Charlty number 1190784 Prfn¢lpal addres8 2 Hartham L8ne Hertford SG14 1QN Trustees G Strain C Bancroft J Purvis J Wnn- appointed 10 April 2023 The elders of the church are classffjed as trustees for legal purposes. Independent Examlner Philip John Dymond FCCA Chartered Certified Accountant Cheyettes Ltd 167 London Road Leicester LE2 1EG Treasurer R Mcclure Bankers Lloyds Bank plc 516 Maiket PLqce HeAford SG14 1DF CHURCH'S WEBSITE Further details of the church may be found at its website.. www.hertfordtown¢hurch.org.L5k. Approved by order of the board of Trustees on 12 June 2024 and signed on its behalf by.. G Strain - Tw$tee Page6 of16
Inde ndent Examlnevs Re ort to the Trustses of Hertford Town Church Independent èxamlnevg report to the trustees of Hertford Town Church I report to the charty trustees on my examination of the accounts of Hertford Town Church (the Twstl for the year ended 31 December 2023. Responsibilities and bas18 of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Acy). I report in respect of my examination of the Trusvs accounts carried out Under section 145 of the Act and in carrying out my examination I have followed all applicable D1CtionS given by the Charity Commission under section 145{5llbl of the Act. Independont 6xamlnerf8 8tatement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to beIve that in any material spect.. accounlrng records were not kept in respect of the Trust as required by section 130 of the Act,. or the accounts do not a¢Id with those records; or the accounts do not comply with the applicable quIrernents concerning the fomi and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requIEnt that the accounts give a true and fair view which ts not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper underslanding of the accounts to be reached. Philip John Dymond FCCA Chartered Certified Accountant Cheyettes Ltd 167 London Road Leicester LE2 1EG Date.. lo1 Page7 of16
Hertlord Town Chur¢h Statement of Financial Actlvttles fort r202 2023 Total nds 2022 Total funds Unrestrict&J Restricted nds funds Notes INCOME AND ENDOWMENTS FROM DonatnS and legacies Other in¢ome 49,716 33,970 4.218 53.934 33.970 36.735 Totsl 83,686 4,218 87.904 36,736 EXPENDITURE ON Charltoble actlvltios Gifts to Christian causes Church ministry Propety cosls Govemance (4,943) {4,9431 {34,7651 135,8081 19161 (15,4751 14,3971 15,4121 (9201 (34,765) 135,8081 1916) Tolal (71,489} (4.943) (76,432) 126,2041 NET INCOMEI{EXPENDrruRE 12,197 (7251 11,472 10.532 Transfer8 between funds 10 Net movement In funds 12.197 {725) 11,472 10,532 RECONCILIATION OF FUNDS Funds transferred from Hertford Town Church Total funds brought forward 224,905 1,000 225.905 215,373 TOTAL FUNDS CARRIED FORWARD 237.102 275 237,377 225.905 The notes form part of these finan¢ial statements Page 8 of 16
Hertford Town Church Balance Sheet 31 December 2023 2023 Total nds 2022 Total funds Unrestricted )lJnds Restricted fvnds Notes FIXED ASSErs Tangible assets 210.000 210.000 210,000 CURRENT ASSETS Debtors Cash at bank 8.182 22.344 8.182 22,619 1.832 15.856 275 30,526 275 30.801 17.688 CREDITORS Amounts falling due within one year {3,4241 13,424) 11,7831 NET CURRENT ASSETS 27,102 275 27.377 15,905 TOTAL ASSETS LESS CURRENT LIABILITIES 237,102 275 237,377 225,905 NET ASSETS 237.102 275 237,377 225.905 FUNDS Unrestricted fvnds Restricted funds 237,102 275 224,905 1,000 TOTAL FUNDS 10 237,377 225,905 The financial statements We approved by the Board of Trustees and authorised for issue on 12 June 2024 and were signed on its behalf by= {[(- G Strain- Trustee uslee The notes form part of Ihese financial statements Page9 of16
Hertford Tovm Church Notes to the Financi01 Ststementg for tho Year Ended 31 Decombor 20 ACCOLINTING POLICIES Basis of preparing the financial ststements Hertford Town Church is a charitable inCoryrated organisalion registered in Engf8nd and Wales. The financial statements of the charity, which is a public benefit entity under FRS 102. have been ?pared in accordance with the Charities SORP {FRS 102) 'Accounting and Reporting by Charities-. Statement of Recommended Practice applicable to ¢hanttes preparing their accounts in accordance wlth the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 {published October 20191.. Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ifeland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent reqUId to provide a true and fair view. This departure has involved following the Statement of Recommended praCte for charities applying FRS 102 rather than the version of the ststement of Recommended Pract1 which is referred lo in the Regulations but which has since been withdrawn. The financial statements are prepared in Steding. whych Is the fvndonal currency of the charty. Monetary amoLFnts in these financial statements are rounded to the nearest £. Income All incoming resources are included on the Statement of Financial A¢tivities when the charity is legalty enlilled to the income and the amount can be quantif*d wlth sOnable awuracy. Income is accounted for when received, with Ihe exception of income tax recoverable on gtft aid donations, and interest aiising on depjsits which are anted for on an accruals basis. For legacies. entitlement is the earlier of Ihe charity being notified of an impending di5trÈbution or the legacy being received. Expendlture Liabilities a recognised as expenditure as soon as there is a legal orconstru¢lNeobligation committing the charity to that expenditure. tt is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to th& category. here costs cannot be directly attributed to particular headings. they have b8en allocated to activities on a basis consistent with the use of resour$. Grants offered subject to ¢ondilions which have not been mel at the yearend date are noted as a ¢ommitment but nol accrued as expenditure. Grants are recognised a$ a liability when the church is under an obligation to make a payment. Going concern At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable fijture. The tWStees have thef0 adopted the going concern basis in preparing the accounts. Governance Costs Governance costs include all expenditure to comply with statutory and legal requirements. Page 10 of16
Hertford Town Church Notes to the Fin•n¢ial Ststements - continued for the Year Ended 31 December 2023 ACCOUNTING POLICIES - continued Tangiblg fixed assets Depreciation is provided at the following annual rates in order to write off asset over rts estimated usefvl life. Fixtures and fittings Motor vehicles 25% on cost 25°A on cost No depreciation is provided on freehold buildings. The charity adopts a policy of maintaining properties to a high standard, which prolongs their useful INes and enhances their residual value {based on prices prevailing al the lime of acquisition or subsequent valuats'on) and accordingly the Trustees consider depreciation arising to be immaterial. Fixed assets wilh a value under £1,000 are wrltten off as expenditure in Ihe Statement of Financial A¢tivrties. Taxatlon The charity is exempt from tax on its charitable activities. Fund accountlng Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Fund accountlng Restricted funds can only be used for particular restricted purposes wrthin Ihe objects of the charity. Restri¢b'on$ arise when specified by the donor or when fijnds are rais for particular restricted purposes. Further explanation of the nature and PLtrpose of each fund is included in the notes to the financial statements. Cash at bank and In hand Cash al bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition. Deposits for more than three months but less than one year have been disclosed as short-term deposits. DobtOf5 and credltors Debtors are recognised at their settlement amount. les5 any provis for non-recoverabilty. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the fvture cash reipt where such dis¢ounting is material. Creditors and provisions are recognised when there is an obligatn at Ihe bal8nce sheet date as a result of a past even( it is probable thal a transfer of economic benefit will be required in settlement. and the amount of the Settment can be estimated reliably. Creditors and provisions are Tecognised at the amount the charity antiupates it will pay to settle the debt DONATIONS AND LEGACIES Unrestricted Restricted 2023 2022 Donations Gift aid 39,838 9.878 3,375 43.213 10,721 29,605 7,130 TOTAL FUNDS 49,716 4,218 53,934 36.735 Page 11 of16 conbnued...
Hertrd Town Church Notes to the Financial Statements- continu•d for the Year Ended 31 December 2023 CHARrrABLE ACTIVITIES COSTS Grant nding of a¢tivities Direct Costs Totals Gifts to Chrisban causes (note 131 Church ministry Propety costs Governance 4,943 4.943 34.765 35,808 916 34,765 35,808 916 71,489 4,943 76,432 Church ministy costs includes staff costs as per note 5. Included in propety costs is £20,550 {2022'. £nil} for the rent of a manse, £2.187 12022.. £nill for manse council tsx and water charges and £3,332 12022.. £476) for the hire of the Hertford URC church for Sunday moming services. Included in governance costs above are fees payable to the Independent Examiner in the sum of £750 (2022.. £720). COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restrrcted funds funds Total funds INCOME AND ENDOWMENTS FROM Donations and lega¢ie$ Other income 20,610 16,125 36,735 Total 20,611 16.125 36,736 EXPENDITURE ON Charitable activities Gifts to Christian causes Church ministy Propety costs Governan costs 115,4751 115,4751 14.3971 15.4121 19201 {4,3971 (5,4121 19201 Total (10,729) {15.475) {26.2041 NET INCOME 9,882 650 10,532 Net movement In funds 9,882 650 10,532 RECONCILIATION OF FUNDS Totsl funds brought forward 215,023 350 215,373 TOTAL FUNDS CARRIED FORWARD 224.905 1.000 225,905 Page 12of16 continued...
Hertford Town Church Notes to the Financial Ststements- contlnued lor the Year Ended 31 0*Mber 23 STAFF COSTS 2023 2022 Wages and salaries Social security costs Other nSIOn costs 18,138 2,163 20,299 The average nwjnthly number of employee$ and office holders durirkg the year was as follows.. 2023 2022 Pastoral team No employee or Offi holder recetved emoyee beneftls of more than £60,000 (2022.. nill. TRUSTEES, REMUNERATION AND BENEFITS In accordance with the Hertford Town Church COnStition approved and adopted at a Trustees members, meetsng held on 21 July 2020, the following trustees were paid these amounts in service to the church- Stipend Pension Total Jwnn 18.136 2,163 20,299 J Wnn also received the benefft of housing provhjed by the church. the costs of which are detsiled In note 3. One trustee (2022.. none) received expenses for moving costs. travelling, hospitality and books of£2,329 during the year {2022.' £nill. In addition, one trustee 12022: none) was reimbursed for exnditre incurred on behalf of the Church of £1,40312022'. £368). TANGIBLE FIXED ASSETS Freehold propety Totals COST AND NET BOOK VALUE Al 31 December 2023 and at 31 December 2022 210,000 210,000 The Trustees are of the opinion that the market value of the church building FS much higher than the book value. Pa9e 13of16 ontinued...
Hertford Town Church Notes to the Financial Statements - continu for the Year Ended ecern DEBTORS: AMOUNTS FALLING DUE WIThIN ONE YEAR 2023 2022 Other debtors Prepayments 5.830 2,352 1,600 232 8.182 1.832 CREDITORS". AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Accruals 3,424 1,783 10. MOVEMENT IN FUNDS Nel movement in funds Transfers betsveen funds At 31.12.22 31.12.23 Unrestrlcted funds General fvnd Hartham Lane reserve 14,905 210.OTrJ 12.197 27,102 210.000 R¢$trl¢ted fund$ Other Christian ¢au$e$ 1.000 (725) 275 TOTAL FUNDS 225,905 11,472 237,377 Net movement in funds. included in the above are as follows.. Incomlng resoufces Resources expended Movement in funds Unrtstrl¢ted funds General fvnd 83,686 171,4891 12.197 Restrtcted fund8 Other Christian causes 4,218 (4,943) 17251 TOTAL FUNDS 87,904 {76.432) 11.472 Page 14of16 continued...
Hertrd Town Church Notes to the Financial Staternents - continued f r the Year Ended 31 December 20 10. MOVEPIENT IN FUNDS {contlnued Comparatives for movement in funds Net movement in funds Transfers between funds At 31.12.22 At31.12.21 Unrestrlcted fund8 General fund Hartham Lane reserve 215,023 9.882 1210.000) 210.000 14.905 210.000 Restricted funds Other Christian causes 350 650 1,000 TOTAL FUNDS 215,373 10.532 225,905 Comparative nel movement in funds, included in the above arè as follows: Incoming resources Resour Movement expended in funds Unrestrlcted funds General fttrnd 20,611 (10,729) 9,882 RostriGttrd funds Other Christian causes 16.125 (15.475) 650 TOTAL FUNDS 36.736 126,2041 10,532 11. OPERATING LEASES The chltrch rents a manse to house the pastor (J Wnn) and his famity. Rental payments for the year are stThvn in note 3. The tenancy is an initial 124nonth agreement to 31 March 2024 8nd the rent commitment at 31 December 2023 was £6,75012022'. £nill. The rental of the Hertford URC building for Sunday morning servic85 may be temiinated on the giving of one month's notice and the commitment al 31 December 2023 was £272 {2022: £340). 12. RELATED PAR DISCLOSURES Donations given by the trustees amounted to £15,60012022= £3.468}. Spicer Street Church. St Albans, provided some administration support in both ltte years ended 31 December 2023 and 31 December 2022 and did not recharge the costs to Hertford Town Church. Spicer Street Church. St Alban$. prowded support of £33.750 in the year ended 31 December 2023 12022.. £nil) towards the cost of a pastor- the support is included in other income. G Strain {trustee) and R Mcclure {treasurer} are Iruslees 8t Spicer Street Church. Page 15of16 continued...
Hertford Tovrn Chureh Notes to the Flnancial Statements - Contlnu r the Year Ended 31 December 20 13. APPLICATION OF FUNDS The General fund represents the free funds of the charity whkh are not designated for particular purposes. The Gifts to Christian Causes late to the special offerings taken during Ihe year. details of which are a$ follows. 2023 2022 Hope for Mena Ukraine relief Operation Mercy Interserve 1,600 13,875 2,568 2,375 4.943 15,475 Page 16 of 16