**REGISTERED CHARITY NUMBER: 1190784**
**Report of the Trustees and Financial Statements for the Year Ended 31 December 2024**
**for Hertford Town Church**
Page **1** of **16**
**Hertford Town Church**
## **Contents of the Financial Statements for the Year Ended 31 December 2024**
||**Page**|
|---|---|
|**Report of the Trustees**|3 to 6|
|**Independent Examiner's Report**|7|
|**Statement of Financial Activities**|8|
|**Balance Sheet**|9|
|**Notes to the Financial Statements**|10 to 16|
Page **2** of **16**
**Hertford Town Church**
## **Report of the Trustees**
## **for the Year Ended 31 December 2024**
The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (published October 2019).
## **OBJECTIVES AND ACTIVITIES Objectives and aims**
The purposes of the church are:
1. The advancement of the Christian faith in accordance with the Basis of Faith primarily but not exclusively within Hertford and the surrounding neighbourhood; and
2. Such other charitable purposes as shall, in the opinion of the charity trustees, put into practice the Christian faith in accordance with the Basis of Faith, including but not limited to: the prevention and relief of need, hardship and sickness; the advancement of education; and the provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age infirmity or disability, financial hardship or social circumstances with the object of improving their conditions of life
provided that the advancement of such purposes must be undertaken 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.
Page **3** of **16**
**Hertford Town Church**
## **Report of the Trustees for the Year Ended 31 December 2024**
## **OBJECTIVES AND ACTIVITIES (continued)**
## **The church's ministries**
In fulfilment of these purposes, the church appointed Josh Wynn as pastor in April 2023, responsible for maintaining a regular ministry and pastoral care for the congregation. Extensive use is made of the regular church attendees who willingly volunteer their time to, for example, support children’s work, undertake visits/phone calls to church members and other regular attendees, provide oversight, maintain the premises and serve in the wider community.
The church has brought benefit through:
1. A programme of meetings and events which seeks to deepen the spiritual lives of those attending the church, help them to live out the Christian life where they live and work, and provide opportunities for other members of the public to hear the Christian gospel. Our meetings included:
- morning services each Sunday (live-streamed for those not able to meet in person). A nearby church hall is rented as the church had outgrown the space in the church building;
- morning children’s ministry;
- a mid-week programme, including meetings for both prayer and teaching;
- Town Tots, a weekly group for parents/carers with children up to the age of 5;
- an Easter and summer holiday club for children
- monthly church lunches; and
- Christmas carol services.
2. Encouragement to those who attend the church to pray for the wider church, the needs of the world and to volunteer their time in the name of Christ to serve the needs of the community.
3. Buildings which provide for Sunday worship and facilitate meetings throughout the week and for the encouragement of the Christian faith amongst all ages within the local community. These were enhanced with the provision of equipment to enable the live broadcast of services to those unable to attend in person.
## **Public benefit**
The Trustees are aware of the Charity Commission's guidance on public benefit (PB1). They consider that the church's objectives and activities, and their decision-making in relation thereto, are and have been consistent with that guidance.
## **Grant making**
There are specially announced appeals with the monies donated being given directly to the organisation concerned – and when it spans a financial year end, some of the income is shown in one financial report, with the remainder of the income and the grant being made in the following years financial report. Research into a suitable project is undertaken by the Trustees and the project approved by the Trustees. Reports are received from the organisation on the benefit derived from that giving. Such grants are made as restricted gifts and, for the period covered by this annual report, were for the following purposes:
- Christmas 2023: Interserve - Easter 2024: COCM
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
During 2024, the church has continued to focus on teaching the Bible and promoting prayer and fellowship, including through the teaching and outreach ministries outlined above.
In addition to weekly services and mid-week fellowship and teaching, there were two baptisms (2023: two) during the year.
Page **4** of **16**
**Hertford Town Church**
## **Report of the Trustees**
## **for the Year Ended 31 December 2024**
## **FINANCIAL REVIEW**
## **Principal funding sources**
The church is dependent on donations made by those who attend the church and other donors. The amount given has again steadily increased throughout 2024 as the number attending the church has increased. For the period ended 31 December 2024 the church received unrestricted donations of £60,240 (2023: £49,716) plus restricted giving of £5,400 (2023: £4,218). In addition, Spicer Street Church provided support of £40,000 (2023: £33,750) towards the cost of a pastor.
## **Investment policy and objectives**
The church's investment assets comprise the church building. The value of the property is reviewed from time to time by the Trustees and Treasurer to ensure that the market value is greater than the investment. The remaining financial assets of the church are held in an instant access bank current account, an instant access deposit account and a 32-day notice deposit account. There is no exposure to stock market shares.
## **Reserves policy**
The Trustees policy is to maintain a reserve of at least three months' expenditure. It is not the policy of the church to build up general reserves, preferring to rely on God's providence to meet needs as they arise. The reserves at 31 December 2024 are currently in excess of three months expenditure although the Trustees see this as a short term situation that will help as expenditure increases.
## **Property and Land**
The property and land consisting of Hertford Town Church are owned by the church.
## **FUTURE PLANS**
Several items are proposed for 2025. These have arisen through an ongoing review of activities and a desire to enable those outside the church to understand the gospel of Jesus Christ. Such plans include:
- Continuing to share the Christian faith with others;
- Continuing to welcome the new people who are attending the church;
- Facilitating fellowship amongst those attending the church;
- Our second Easter holiday club and our fourth summer holiday club for children;
- A second year of Town Tots;
- A second 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 governance and pastoral care and to encourage service in the church.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing 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.
## **Recruitment and appointment of new trustees**
Appointment of Trustees is set out in the Constitution. Trustees are appointed by the Trustees and serve as elders – and a pastor would become a trustee on appointment by virtue of their role as an elder. Recommendations for new Trustees are brought to the trustees meeting by the existing trustees. They are appointed at a Trustees meeting via a resolution that must be passed by a 75% majority of the quorum then present.
## **Organisational structure**
The Trustees and Treasurer regularly review and discuss the affairs of the church.
## **Induction and training of new officers**
New Trustees and Treasurers are briefed as necessary on their obligations under charity law, the Constitution and the decision-making processes of the church.
Page **5** of **16**
**Hertford Town Church**
## **Report of the Trustees for the Year Ended 31 December 2024**
## **Safeguarding**
Hertford Town Church’s ministry for children and young people operates under a Safeguarding Policy and Procedures tailored to the needs of that ministry. The Policy and the Procedures were reviewed and adopted by the Trustees. The Trustees and all children’s ministry volunteers receive specific training on safeguarding children and young people. Processes are in place for the proper handling of concerns about the welfare of children and young people and referral to authorities where necessary or appropriate.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1190784
**Principal address** 2 Hartham Lane Hertford SG14 1QN
## **Trustees**
G Strain C Bancroft J Purvis J Wynn
The elders of the church are classified as trustees for legal purposes.
## **Independent Examiner**
Philip John Dymond FCCA Chartered Certified Accountant Cheyettes Ltd 167 London Road Leicester LE2 1EG
## **Treasurer**
R McClure
## **Bankers**
Lloyds Bank plc 5/6 Market Place Hertford SG14 1DF
## **CHURCH'S WEBSITE**
Further details of the church may be found at its website: www.hertfordtownchurch.org.uk.
Approved by order of the board of Trustees on 11 June 2025 and signed on its behalf by:
G Strain - Trustee
Page **6** of **16**
## **Independent Examiner's Report to the Trustees of Hertford Town Church**
## **Independent examiner's report to the trustees of Hertford Town Church**
I report to the charity trustees on my examination of the accounts of Hertford Town Church (the Trust) for the year ended 31 December 2024.
## **Responsibilities and basis 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 Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
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 believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts 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.
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 accounts to be reached.
Philip John Dymond FCCA Chartered Certified Accountant Cheyettes Ltd 167 London Road Leicester LE2 1EG
Date: 1 9/06/2025
Page **7** of **16**
## **Hertford Town Church**
## **Statement of Financial Activities**
## **for the Year Ended 31 December 2024**
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Other income
2
60,240
40,371
**Total**
100,611
**EXPENDITURE ON**
**Charitable activities**
3
Gifts to Christian causes
Church ministry
-
(45,042)
Property costs
(33,171)
Governance
(1,152)
**Total**
(79,365)
**NET INCOME/(EXPENDITURE)**
21,246
**Transfers between funds**
10
-
**Net movement in funds**
21,246
**RECONCILIATION OF FUNDS**
Funds transferred from Hertford Town Church
Total funds brought forward
-
237,102
**TOTAL FUNDS CARRIED FORWARD**
258,348|Restricted
funds
£
5,400
-
5,400
(5,675)
-
-
-
(5,675)
(275)
-
(275)
-
275
-|2024
Total
funds
£
65,640
40,371
106,011
(5,675)
(45,042)
(33,171)
(1,152)
(85,040)
20,971
-
20,971
-
237,377
258,348|2023
Total
funds
£
53,934
33,970
87,904
(4,943)
(34,765)
(35,808)
(916)
(76,432)
11,472
-
11,472
-
225,905
237,377|
|---|---|---|---|
The notes form part of these financial statements
Page **8** of **16**
## **Hertford Town Church**
|**FIXED ASSETS**
Tangible assets
**CURRENT ASSETS**
Debtors
Cash at bank
**CREDITORS**
Amounts falling due within one year
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|**Balance Sheet**
**31 December 2024**
Unrestricted
funds
Notes
£
7
210,000
8
6,852
44,306
51,158
9
(2,810)
48,348
258,348
258,348
10|Restricted
funds
£
-
-
-
-
-
-
-
-|2024
Total
funds
£
210,000
6,852
44,306
51,158
(2,810)
48,348
258,348
258,348
258,348
-
258,348|2023
Total
funds
£
210,000
8,182
22,619
30,801
(3,424)
27,377
237,377
237,377
237,102
275
237,377|
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 11 June 2025 and were signed on its behalf by:
G Strain - Trustee
J Purvis - Trustee
The notes form part of these financial statements
Page **9** of **16**
**Hertford Town Church**
## **Notes to the Financial Statements**
## **for the Year Ended 31 December 2024**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
Hertford Town Church is a charitable incorporated organisation registered in England and Wales.
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (published October 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' 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 required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in Sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
## **Income**
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Income is accounted for when received, with the exception of income tax recoverable on gift aid donations, and interest arising on deposits which are accounted for on an accruals basis.
For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received.
## **Expenditure**
Liabilities are recognised as expenditure 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. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year-end date are noted as a commitment but not accrued as expenditure. Grants are recognised as 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 future. The trustees have therefore 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** of **16**
**Hertford Town Church**
**Notes to the Financial Statements - continued for the Year Ended 31 December 2024**
## **1. ACCOUNTING POLICIES - continued**
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost Motor vehicles - 25% 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 lives and enhances their residual value (based on prices prevailing at the time of acquisition or subsequent valuation) and accordingly the Trustees consider depreciation arising to be immaterial.
Fixed assets with a value under £1,000 are written off as expenditure in the Statement of Financial Activities.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
## **Fund accounting**
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Cash at bank and in hand**
Cash at 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.
## **Debtors and creditors**
Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material.
Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt.
## **2. DONATIONS AND LEGACIES**
|Unrestricted
£
Donations
Gift aid
48,784
11,456
**TOTAL FUNDS**
60,240|Restricted
£
4,330
1,070
5,400|2024
£
53,114
12,526
65,640|2023
£
43,213
10,721
53,934|
|---|---|---|---|
Page **11** of **16**
_continued…_
**Hertford Town Church**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024**
## **3. CHARITABLE ACTIVITIES COSTS**
|Gifts to Christian causes (note 13)
Church ministry
Property costs
Governance|Direct
Costs
£
-
45,042
33,171
1,152
79,365|Grant
funding of
activities
£
5,675
-
-
-
5,675|Totals
£
5,675
45,042
33,171
1,152
85,040|
|---|---|---|---|
Church ministry costs includes staff costs as per note 5.
Included in property costs is £18,400 (2023: £20,550) for the rent of a manse, £2,705 (2023: £2,187) for manse council tax and water charges and £3,516 (2023: £3,332) for the hire of the Hertford URC church for Sunday morning services.
Included in governance costs above are fees payable to the Independent Examiner in the sum of £780 (2023: £750).
## **4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Other income
49,716
33,970
**Total**
83,686
**EXPENDITURE ON**
**Charitable activities**
Gifts to Christian causes
Church ministry
-
(34,765)
Property costs
(35,808)
Governance costs
(916)
**Total**
(71,489)
**NET INCOME**
12,197
**Net movement in funds**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
224,905
**TOTAL FUNDS CARRIED FORWARD**
237,102|Restricted
funds
£
4,218
-
4,218
(4,943)
-
-
-
(4,943)
(725)
1,000
275|Total
funds
£
53,934
33,970
87,904
(4,943)
(34,765)
(35,808)
(916)
(76,432)
11,472
225,905
237,377|
|---|---|---|
Page **12** of **16**
_continued…_
**Hertford Town Church**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024**
## **5. STAFF COSTS**
|Wages and salaries
Social security costs
Other pension costs|2024
£
29,921
-
3,036
32,937|2023
£
18,136
-
2,163|
|---|---|---|
|||20,299|
The average monthly number of employees and office holders during the year was as follows:
||2024|2023|
|---|---|---|
|Pastoral team|1|1|
No employee or office holder received employee benefits of more than £60,000 (2023: nil).
## **6. TRUSTEES’ REMUNERATION AND BENEFITS**
In accordance with the Hertford Town Church Constitution approved and adopted at a Trustees members' meeting held on 21 July 2020, the following trustees were paid these amounts in service to the church:
||Stipend|Pension|Total|
|---|---|---|---|
||£|£|£|
|J Wynn|29,921|3,036|32,937|
J Wynn also received the benefit of housing provided by the church, the costs of which are detailed in note 3.
One trustee (2023: 1) received expenses for moving costs, travelling, hospitality and books of £1,448 during the year (2023: £2,329). In addition, three trustees (2023: 1) were reimbursed for expenditure incurred on behalf of the Church of £2,292 (2023: £1,403).
## **7. TANGIBLE FIXED ASSETS**
|**TANGIBLE FIXED ASSETS**|||
|---|---|---|
||Freehold||
||property|Totals|
||£|£|
|**COST AND NET BOOK VALUE**|||
|At 31 December 2024 and at 31 December 2023|210,000|210,000|
The Trustees are of the opinion that the market value of the church building is much higher than the book value.
Page **13** of **16**
_continued…_
**Hertford Town Church**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 31 December 2024**
## **8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Other debtors
Prepayments
**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Accruals
**10.**
**MOVEMENT IN FUNDS**
Net
At
movement
31.12.23
in funds
£
£
**Unrestricted funds**
General fund
Hartham Lane reserve
27,102
210,000
21,246
-
**Restricted funds**
Other Christian causes
275
(275)
**TOTAL FUNDS**
237,377
20,971
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
100,611
**Restricted funds**
Other Christian causes
5,400
**TOTAL FUNDS**
106,011|2024
2023
£
£
4,916
5,830
1,936
2,352
6,852
8,182
2024
2023
£
£
2,810
3,424
Transfers
between
At
funds
31.12.24
£
£
-
-
48,348
210,000
-
-
-
258,348
Resources
Movement
expended
in funds
£
£
(79,365)
21,246
(5,675)
(275)
(85,040)
20,971|
|---|---|
Page **14** of **16**
_continued…_
**Hertford Town Church**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024**
## **10. MOVEMENT IN FUNDS (** _**continued**_
Comparatives for movement in funds
|At 31.12.22
£
**Unrestricted funds**
General fund
Hartham Lane reserve
14,905
210,000
**Restricted funds**
Other Christian causes
1,000
**TOTAL FUNDS**
225,905|Net
movement
in funds
£
12,197
-
(725)
11,472|Transfers
between
funds
£
-
-
-
-|At
31.12.23
£
27,102
210,000
275
237,377|
|---|---|---|---|
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Other Christian causes
**TOTAL FUNDS**|Incoming
resources
£
83,686
4,218
87,904|Resources
Movement
expended
in funds
£
£
(71,489)
12,197
(4,943)
(725)
(76,432)
11,472|
|---|---|---|
## **11. OPERATING LEASES**
Up until September 2024, the church rented a manse to house the pastor (J Wynn) and his family. Rental payments for the year are shown in note 3. The tenancy was for an initial 12-month agreement to 31 March 2024 and the rent commitment at 31 December 2024 was £nil (2023: £6,750). The rental of the Hertford URC building for Sunday morning services may be terminated on the giving of one month’s notice and the commitment at 31 December 2024 was £272 (2023: £272).
## **12. RELATED PARTY DISCLOSURES**
Donations, excluding gift aid, given by the trustees amounted to £17,800 (2023: £15,600).
Spicer Street Church, St Albans, provided some administration support in both the years ended 31 December 2024 and 31 December 2023 and did not recharge the costs to Hertford Town Church.
Spicer Street Church, St Albans, provided support of £40,000 in the year ended 31 December 2024 (2023: £33,750) towards the cost of a pastor – the support is included in other income.
G Strain (trustee) and R McClure (treasurer) are trustees at Spicer Street Church.
Page **15** of **16**
_continued…_
**Hertford Town Church**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024**
## **13. APPLICATION OF FUNDS**
The General fund represents the free funds of the charity which are not designated for particular purposes.
The Gifts to Christian Causes relate to the special offerings taken during the year, details of which are as follows.
|Operation Mercy
Interserve
COCM|2024
£
-
625
4,775
5,400|2023
£
2,568
2,375
-|
|---|---|---|
|||4,943|
Page **16** of **16**