2025-03-31-accounts - Highgate International Church

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HIGHGATE INTERNATIONAL CHURCH

A Charitable Incorporated Organisation Charity Registration Number: 1192094

Report and Financial Statements

for the year to 31 March 2025

HIGHGATE INTERNATIONAL CHURCH

Report and Financial Statements 2025 Contents

	Page
Legal & Administrative information	2
Report of the Trustees	3
Independent Examiner's report to the Trustees	9
Statement of financial activities	10
Balance sheet	11
Notes to the financial statements	12

HIGHGATE INTERNATIONAL CHURCH

Legal & Administrative Information For the year ended 31 March 2025

Charity Name Highgate International Church Governing Document Registered as a Charitable Incorporated Organisation (CIO) by the Charity Commission on 30 October 2020. Charity Registration No. 1192094 Affiliations Evangelical Alliance; GLO Europe Principal Address 272 Archway Road, Highgate, London N6 5AU. Trustees The Trustees who served during the year and who were still serving at the date of this report were: Patricia Chinyoka (reappointed: 30 October 2024) Roger Herbert Compton (reappointed: 8 January 2026) Neil William Summerton (Chairman up to 24 October 2024; Treasurer from 24 October 2024;) Michael Hall (Treasurer up to 24 October 2024; Chairman from 24 October 2024) Stephen McQuoid (reappointed: 30 October 2024) Paula Christine Millard Trevor Currie Bayo Yoloye (appointed: 10 April 2025) Sean Holmes (appointed: 23 October 2025) Key Management Personnel Those persons having responsibility for controlling, directing and planning the activities of the CIO, and/or having significant responsibility for the day-to-day running of the CIO, are the Trustees (including Paula Millard who makes an important management and practical input to the work of the church from day to day), Mark Davies, as the sole elder of the church, Izak van den Bergh (Pastor/Team Leader) (up to 30 July 2024), Peter Barker (Community Evangelist), and Lucas da Silva (Church Development Lead) (from 1 January 2025).

Bankers NatWest Bank Swiss Cottage (A) Branch 106 Finchley Road London NW3 5JN

Independent Examiner

John Helm ACA Tandem Accounting Limited 17 Heathville Road London N19 3AL

HIGHGATE INTERNATIONAL CHURCH

Report of the Trustees For the year ended 31 March 2025

The Trustees submit their report and the financial statements of Highgate International Church (Charity registration number 1192094) [hereinafter ‘the CIO’] for the year ended 31 March 2025. The financial statements have been prepared in the format prescribed by the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP2019 (FRS102)).

The report and financial statements take account of the fact that the CIO was formed to take over the activities of the Cholmeley Evangelical Church (Second Century) Trust Fund (‘the Trust’). Since 1 April 2022 the CIO has been fully responsible for the affairs of Highgate International Church, though the Trust remains in being in case any legacies were to be activated that had been expressed as being to that Trust, and because up to 20 February 2025 it remained the counterparty to the arrangements for holding 272 Archway Road N6 from Church Growth Trust which holds the freehold of that building. (As from 20 February 2025, the CIO has become the counterparty to the relevant agreement with Church Growth Trust (CGT).)

The legal and administrative information set out in page 2 of this document forms part of this report.

1. Structure, Governance & Management

1.1 The Governing Document

The Governing Document is a CIO ‘foundation’ constitution approved by the Charity Commission on registering the CIO on 30 October 2020.

The Trustees are also Trustees of the Trust which remains in being in case there are legacies which have been made in the name of the Trust but which those acting for the legator might not be willing to transfer to the CIO as successor to the Trust. Now that the CIO has replaced the Trust as the counterparty of CGT with respect to the arrangements for occupying 272 Archway Road, the Trustees intend to look again at whether the Trust can be closed.

The properties at 143 Park Road N8 and 16 Despard Road N19 have been held by the CIO since October 2021, and a further residential property at 324 St John’s Way, Holloway, was acquired for operational purposes in January 2023.

For the time being, the Trustees continue to meet as Trustees of both the CIO and the Trust, but care is being taken to be clear about the capacity in which the Trustees are taking decisions, and separate minutes are being kept of the two bodies.

The church congregation (the main group through which the work of the CIO is done on the ground) is led by elders who, with others, comprise the Church Leadership Team. Appointments of new elders and other members of the Leadership Team are made on recommendation by the Leadership Team to the Trustees, after consultation with the congregation. At present, there is an interim eldership in place, comprising Mark Davies (in his capacity as a titular elder), and Peter Barker, Lucas da Silva and C. J. Johnson as interim elders.

Meetings of Trustees have been attended, in an advisory capacity, by Mark Davies and Izak van den Bergh (up to 30 July 2024), and now by Peter Barker and Lucas da Silva as necessary. Paula Millard and Sean Holmes are trustees and active members of the Church (and Paula Millard is a member of the Church Leadership Team).

1.2 Trustees

The Trustees meet four times a year (and additionally as necessary), normally online, and discuss a full agenda relating to charitable activities, governance, risk management, buildings and finance, and other matters for which they are responsible.

The number of Trustees must not be less than three. New Trustees can be appointed by a resolution supported by a majority of the Trustees present at a properly convened meeting of the Trustees or, in the case of appointment by written procedure (whether by paper or electronic), by resolution agreed by all of the charity trustees.

HIGHGATE INTERNATIONAL CHURCH

Report of the Trustees For the year ended 31 March 2025

The induction process for any newly appointed Trustee comprises an initial meeting with the existing Trustees, to give the latter the opportunity to explain the background and evolution of the activities of the CIO and expected future developments. Those appointed normally have some prior familiarity with the activities of the CIO. Information provided on joining the Trustees includes:

copies of the most recent reports and financial statements;
a copy of the constitution of the CIO;
direction to the Charity Commission’s guidance, The Essential Trustee’; and
direction to relevant guidance from the Charity Commission on public benefit, particularly that relating to public benefit and the advancement of religion.

None of the Trustees receives remuneration for serving as a trustee. Paula Millard is paid a small fee for preparing the minutes of Trustees’ meetings, as permitted by the CIO’s constitution.

The day-to-day leadership and running of the congregation are in the hands of the Church Leadership Team, comprising the elders and others responsible for the various ministries and activities, who are in turn supported by a buildings team and a financial matters team (the latter including the Treasurer who is a trustee). The Church Leadership Team reports regularly to the Trustees through the elders and others who are in attendance at trust meetings, as well as through any trustee who is a member of the Core Leadership Team.

1.3 Risk Management

The Trustees have considered the major risks to which the CIO is exposed and as far as is practical have established procedures, and taken action, to manage those risks. There is in being a formal assessment of risks arising in the use of the building at 272 Archway Road, the operational base of the CIO's main activities. This document is reviewed regularly. The CIO’s properties are all insured based on estimated rebuilding costs. The Trustees are also particularly conscious of its responsibilities for safeguarding children and vulnerable adults, and its responsibilities to protect from harm all whom Highgate International Church is in contact with. The Trustees regularly review policies and practices that are relevant to these responsibilities.

2. Objectives, Activities & Strategies

2.1 Objective

The object of the CIO is: to advance Christian faith and education generally (including by the worship of God, the instruction and edification of Christians, the care and Christian instruction of young people and children, the evangelisation of nonChristians, and the relief of sickness and poverty) in the United Kingdom and abroad for the public benefit in accordance with the statement of beliefs (in the Schedule to the constitution) in north London and in such other parts of the United Kingdom or the world as the charity trustees may from time to time think fit.

While it has recently been possible to appoint a further current member of the congregation as a Trustee (in addition to Paula Millard), the Trustees consider that, when possible, the present balance between Trustees who are members of the church and those who are not should be shifted further towards those who are current church members. Six of the seven external Trustees are former members of the church and continue to take an active interest in its affairs. The Chairman and Treasurer are in regular contact with the other Key Management Personnel named on page 2 of this report.

2.2 Activities & Public Benefit

The main activities of the CIO are responsibility for the activities of the congregation, and to hold and maintain the functional properties which the congregation uses to further its objects. At present, the activities of the congregation (and the principal means by which the CIO gives public benefit) include:

Public meetings each week for worship, fellowship, study of the Word, and prayer, and fellowship lunches;
A community café, once a week;

HIGHGATE INTERNATIONAL CHURCH

Report of the Trustees For the year ended 31 March 2025

Parent & toddler activities, currently two sessions per week;
Life Group and Prayer meetings;
Door to door evangelism; and
Other fellowship activities.

The properties comprise the church building at 272 Archway Road, Highgate, and three residential properties in Highgate and Crouch End, all of which are within easy reach of 272 Archway Road. Two of the residential properties are used as accommodation by those who minister in the church on a house for ministry basis. The other is currently let on the commercial market until needed for ministry purposes.

The Trustees have regard to the Charity Commission’s guidance on public benefit. The Commission's revised guidance of 2020 on public benefit has been circulated to the Trustees. The CIO has provided public benefit through the activities of the church; by facilitating the activities of a separate congregation which uses the 272 Archway Road building; and through financial support to Christian missionaries in France and Rwanda, and a retired missionary couple now in the USA. The church is involved in developing the life, witness and Christian work of all who fellowship with it and who are in contact with it through its activities, including its work with children, families, young people, the elderly, and needy individuals who visit the 272 Archway Road premises regularly. 272 Archway Road is also used for other Christian and/or community activities which the church wishes to facilitate, including the North London Recorder Society, and GLO Europe which regularly places short-term mission teams with the church, and uses the church for student placement experience by students of Tilsley College).

3. Achievements and Performance

The period since 2015 has been one in which the Trustees and church leaders have been seeking to provide new foundations on which the work of the church (which had become very small) could be redeveloped. The task was complicated by the COVID-19 pandemic in 2020-21. There have been important changes in the past few years which have enabled a growing congregation to benefit from the groundwork done since 2015.

Peter Barker ministers as Community Evangelist, on the basis that the CIO provides him and his family with living accommodation for better performance of duties in the Highgate area, but otherwise he ‘lives by faith’. He and his family have occupied 143 Park Road on a ‘house-for-ministry’ basis since January 2022. Unexpectedly in July 2024, Izak van den Bergh and his wife (who occupied 324 St John’s Way N19 on a similar house-for-ministry basis) informed us that because of employment and visa difficulties they would no longer be able to reside in the UK beyond August 2024. and would need to return to South Africa. In the short term, Mark Davies increased his presence and input to the church, while urgent steps were taken to recruit a person for a church development role. The Trustees were pleased that it was possible to recruit Lucas da Silva for this role as from 1 January 2025. He, his wife and children occupy 324 St John’s Way on a house-forministry basis, while looking to God to provide their other financial needs as a family. Notwithstanding this further necessary change in leadership arrangements, the Trustees are pleased to see the growth and vibrancy of the congregation at Archway Road, as a result in part of these two ministry roles. The Trustees are also pleased that it has been possible to put in place an interim eldership for the church.

Consistent with the approach of churches of this type, the ministry of the church is carried on not only by those mentioned in the previous paragraphs, but widely by volunteers from within the congregation and also by visiting teachers.

In 2024-25, in addition to worship, teaching, and fellowship activities, the church continued the community café which is opened to the community one day a week: it offers a friendly place to chat, pray and study the Bible. It is attended by an average of 30–35 people each week. All kinds of people use this facility, including many who did not know of the existence of or benefit from the church previously. The parent and toddler sessions on two mornings each week continue to provide direct benefit to the many families concerned and many contacts with the community around Archway Road. By these means, every opportunity is taken to advance the Christian faith as well as provide pastoral and practical support to users as necessary. In addition, the Community Evangelist continues to undertake door-to-door evangelism in the Archway Road area and makes contact with both those without faith and Christians who are not at present actively engaged in church life anywhere. The other activities of the church have benefitted from these contacts.

HIGHGATE INTERNATIONAL CHURCH

Report of the Trustees For the year ended 31 March 2025

Additionally, the CIO has continued to use its functional properties to facilitate the religious and social work of local Christian congregations and para-church bodies, all being uses which the church wishes to assist. The properties and their uses include:

Property	Property type	Ownership	Current usage
272 Archway Road, London N6	Church building	Church Growth Trust Limited: the CIO is beneficiary of 5/6ths of net proceeds of a future disposal in recognition of the investment by the Trust in rebuilding in the period 1986–90.	The main operational site of the activities of the CIO by way of Highgate International Church. Used from time to time by other para-church bodies, particularly for training purposes, and by other local community groups at below commercial rent. A separate Portuguese-speaking congregation also uses the building for their meetings by agreement with the CIO.
143 Park Road, London N8	Residential property	Freehold	Operational property occupied at nil rent by a qualified full-time Christian worker who ministers in the church.
16 Despard Road, London N19	Residential property	Freehold	Currently let commercially.
324 St John’s Way, London N19	Residential property	Long Leasehold The CIO intends to extend the length of the lease from the present 82 years within the next two or three years, to ensure the continuing marketabilityof the lease.	Operational property occupied at nil rent by a qualified full-time Christian worker who ministers in the church.

4. Financial Review

The CIO’s main sources of funding are the freewill offerings of church members and property lettings income, the latter contributing much the larger element of its funding.

4.1 Financial Activity and Financial Position

The Statement of Financial Activities and Balance Sheet can be found on pages 10 and 11 respectively. Total income for the year was £82,313 (2024: £76,587), and total expenditure was £131,956 (2024: 82,743). The Trust’s reserves decreased by £49,643 during the year (2024: decreased by £6,156). The balance sheet shows total net assets of £4,118,440 (2024: £4,168,083).

The significant deficit in the year, and consequent reduction in the total net assets of the charity, was attributable to (1) the expenditure of significant sums on the complete refurbishment of the kitchen (which is a vital resource assisting the congregation’s activities) and in connection with lettings of 272 Archway Road; and increases in heating costs as a result of general inflation of heating costs in the UK. There had been little expenditure on the kitchen since it was provided some 35 years ago.

4.2 Reserves Policy

The Trustees believe that in the grace of God the financial needs of the CIO will be provided as they arise, a belief that has been demonstrated in practice over many years. In principle, the Trustees believe that monies received by the CIO should be used in furtherance of the CIO’s objects as soon as is practical and is consistent with the orderly and responsible stewardship of the funds and assets and the work of the CIO.

HIGHGATE INTERNATIONAL CHURCH

Report of the Trustees For the year ended 31 March 2025

In the view of this, the Trustees have adopted a policy of maintaining free reserves (being those funds not represented in fixed assets, nor restricted for particular purposes nor earmarked for specific projects) to provide for the anticipated costs of maintaining the properties in a good and safe condition. These costs are difficult to anticipate but regular reviews are undertaken to ensure that any works needed are identified and completed. At 31[st] March 2025 the Trust had free reserves of £54,266 (2024: £104,534) as follows:

Total reserves Less: restricted funds Less: fixed assets used for the continuing work of the CIO Free reserves Free reserves requirement: 6 month’s budgeted routine expenditure and expected maintenance provision Anticipated upkeep expenditure on buildings and purchase of furniture	2025	2024 £ 4,168,083 (792 (4,062,757	) )
	£

	4,118,440
	(972)
	(4,063,202)

		104,534
	54,266

		40,000 40,000

	40,000
	40,000

		80,000
	80,000

The CIO’s free reserves currently stand below the level set in the reserves policy. Trustees acknowledge this shortfall and are monitoring cash flow closely to ensure that essential commitments can be met. The Finance Team is seeking to avoid a further deficit of income against expenditure in the current financial year, and if possible, to make a contribution towards rebuilding reserves. The position will be reviewed regularly to maintain financial resilience.

4.3 Property Maintenance Policy

It is the CIO and the Trust’s policy to maintain and improve their buildings to a good standard. The cost of repairs and maintenance is included under premises costs within resources expended on charitable activities in the Statement of Financial Activities. The Trustees review the properties on a regular basis, retaining professional advisors as necessary to maintain the properties. The Trustees will retain reserves which are sufficient to ensure that they can continue to maintain the properties in a good, safe condition.

4.4 Grant Making Policy

The CIO, and the Trust before it, has from time to time in consultation with the church made grants to support mission both in the UK and abroad.

4.5 Value of input by volunteers

The charitable work of the CIO and the church for which it is responsible depends to a very large extent on the work of volunteers—and it should be noted too that the group of churches of which the church forms a part has a long tradition in which Christian ministry in the home churches is an unpaid, non-professionalised activity. At least four of the trustees devote considerable time each month to the work of the CIO and church, and the church is highly dependent on the work of a range of other volunteers, including those who serve as elders of the church and in the Church Leadership Team. It would be of questionable accuracy (and could be potentially divisive between volunteers) to seek to put a monetary value on this work.

5. Plans for Future Periods

The overall aim is that the work of the church can flourish and grow. We intend to continue to look to God’s leading as to how to make best use of the CIO’s resources to fulfil the objects of the CIO. Having made provision for the church development lead role, as well as that of community evangelist, and having established an interim eldership, the Trustees will continue to monitor the effects of these arrangements and the work of the church generally.

The CIO is continuing to review the needs of the properties to maintain them in a safe condition.

HIGHGATE INTERNATIONAL CHURCH

Report of the Trustees For the year ended 31 March 2025

6. Responsibilities of Trustees for the Financial Statements

The Trustees are responsible for preparing the report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of its financial activities for that period.

In preparing those financial statements, the Trustees are required to:

select suitable accounting policies and apply them consistently;
make judgements and estimates that are reasonable and prudent; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the activities of the charity will continue.

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011. Trustees 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.

7. Approval

The report of the Trustees was approved by the Trustees on 8 January 2026, subject to any further minor necessary amendments agreed by the Chairman and Treasurer, and signed on its behalf on 23 January 2026 by:

Michael Hall Trustee

HIGHGATE INTERNATIONAL CHURCH

Report of the Independent Examiner to the Trustees of Highgate International Church

I report on the financial statements of Highgate International Church for the year ended 31 March 2025, set out on pages 10 to 16.

This report is made solely to the Trustees in accordance with section 145 of the Charities Act 2011 (the Act). My independent examination has been undertaken so that I might state to the Trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by the law, I do not accept responsibility to anyone other than the Trust and the Trustees for my independent examination, for this report, or the opinions I have formed.

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER

The Trustees consider that an audit is not required for this year under section 144(2) of the Act and that an independent examination is needed.

It is my responsibility to:

Examine the accounts (under section 145 of the Act);
To follow the procedures laid down in the General Direction given by the Charity Commission (under section 145(5)(b) of the Act); and
To state whether particular matters have come to my attention.

BASIS OF INDEPENDENT EXAMINER’S STATEMENT

My examination was carried out in accordance with General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the accounts.

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:

accounting records were not kept in respect of the church as required by section 130 of the Act; or
the accounts do not accord with those records; or
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.

John Helm ACA 8 January 2026

HIGHGATE INTERNATIONAL CHURCH

Statement of Financial Activities For the year ended 31 March 2025

Unrestricted Funds 2025 £ 19,622 4,286 55,413		Unrestricted Funds 2024 £ 19,227 5,288 49,883	Total 2024 £ 21,416 5,288 49,883
	Total
	2025
	£

	22,614
	4,286
	55,413

79,321		74,398	76,587
	82,313

22,592 106,552 129,144 - (49,823) - (49,823) 4,167,291 4,117,468		12,879 67,114	12,879 69,864

	22,592
	109,364

		79,993	82,743
	131,956

		-	-

	-

		(5,595)	(6,156)
	(49,643)

		30 -	- -
	-
	-

		(5,565) 4,172,856	(6,156) 4,174,239
	(49,643)

	4,168,083

		4,167,291	4,168,083
	4,118,440

HIGHGATE INTERNATIONAL CHURCH

Balance Sheet As at 31 March 2025

Note Fixed Assets Tangible Assets 5 Current Assets Debtors 6 Cash At Bank And In Hand Creditors - Amounts Falling Due Within One Year 7 Net Current Assets Net Assets Represented by: Unrestricted Income Funds Restricted Income Funds 8	Unrestricted 2025 £ 4,063,202 5,499 55,032 60,531 6,265 54,266 4,117,468 4,117,468 - 4,117,468	Restricted 2025 £ - - 972 972 - 972 972 - 972 972	Total	Total 2024 £ 4,062,757 5,181 102,045
			2025
			£

			4,063,202


			5,499
			56,004

				107,226 1,900
			61,503

			6,265

				105,326
			55,238

				4,168,083
			4,118,440

				4,167,291 792

			4,117,468
			972

				4,168,083
			4,118,440

The trustees confirm, in accordance with the Charitable Incorporated Organisations (General) Regulations 2012, that at the year end the CIO did not have any outstanding guarantees to third parties nor any debts secured on the assets of the CIO.

The financial statements were approved by the Trustees on 8 January 2026, subject to any further minor necessary amendments agreed by the Chairman and Treasurer, and signed on its behalf on 23 January 2026 by:

Michael Hall Trustee

HIGHGATE INTERNATIONAL CHURCH

Notes to the Financial Statements For the year ended 31 March 2025

1. Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of accounting

The financial statements have been prepared under the Charities Act 2011 and in accordance with the Charities Statement of Recommended Practice (Charities SORP 2019 (FRS 102)). The financial statements are drawn up on the historical cost basis of accounting.

Under the merger accounting provisions of SORP2019, these financial statements include the results of both the CIO and Cholmeley Evangelical Church (Second Century) Trust Fund (‘the Trust’), which was formerly responsible for the work of Highgate International Church, so as to give a true and fair presentation of the matters for which the CIO and the Trust have jointly been responsible.

The Trust meets the definition of a public benefit entity under FRS 102.

Going Concern

There are no material uncertainties about the Trust’s ability to continue as a going concern and accordingly the accounts have been drawn up on a going concern basis.

Income recognition

Voluntary income and donations (including legacies) are accounted for once the Charity has entitlement to the income, it is probable the income will be received, and the amount of income receivable can be reliably measured. Income from the recovery of tax on gift aided donations is accounted for in the period to which the relevant donation is received.

The income from trading activities includes rental income from the letting of church premises and freehold land and buildings which is accounted for when earned. It is shown gross, with the associated costs included in fundraising costs.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Trust; this is normally upon notification of the interest paid or payable by the bank.

Expenditure recognition

Expenditure is accrued as soon as a liability is considered probable, and the amount of obligation can be measured reliably. The Trust is not registered for VAT and accordingly expenditure includes VAT where appropriate.

Charitable expenditure includes those costs in fulfilling the Trust’s principal objects, as outlined in the Report of the Trustees. These include grants payable and governance costs:

Grants payable are payments made to third parties in furtherance of the Trust’s objects. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the grant. Grants awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant is outside of the control of the Trust.
• Governance costs comprise all costs involving the public accountability of the Trust and its compliance with regulation and good practice. These costs include costs related to the independent examination and legal fees.

Tangible Fixed Assets

Tangible fixed assets are accounted for as follows:

Freehold and leasehold land and property is included at fair value. Depreciation is not provided on freehold property as the estimated residual value is considered to be the same or higher than the carrying value of the property in the accounts.
The cost of office equipment less any expected residual value is depreciated on a straight-line basis over the effective useful life of the asset, which has been estimated as four years.

HIGHGATE INTERNATIONAL CHURCH

Notes to the Financial Statements For the year ended 31 March 2025

1. Accounting Policies (continued)

Debtors

Debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.

Fund accounting

The funds held by the charity are either:

Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the Trustees.
Restricted funds - these are funds that 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.

2. Income

Donations & legacies Offerings and donations Income tax reclaimed Charitable activities Tots & Toddlers Cafe Other trading activities Lettings income Other	Unrestricted Funds 2025 £ Restricted Funds 2025 £ 17,581 2,740 2,041 252 19,622 2,992 3,980 - 306 - 4,286 0 53,545 - 1,868 - 55,413 0 79,321 2,992					Total 2024 £ 18,482 2,934
			Total
			2025
			£

			20,321
			2,293

						21,416 4,934 354
			22,614

			3,980
			306

						5,288 48,002 1,881
			4,286

			53,545
			1,868

						49,883
			55,413

						76,587
			82,313

HIGHGATE INTERNATIONAL CHURCH

Notes to the Financial Statements For the year ended 31 March 2025

3. Expenditure – Raising Funds

3. Expenditure – Raising Funds
Let properties: Agent’s management fees Maintenance Insurance Utilities – Service charge Other	Unrestricted 2025 £ Restricted 2025 £ 4,898 - 14,861 - 2,215 - 618 - - - 22,592 0	Total	Total 2024 £ 4,680 4,894 1,214 1,712 379
		2025
		£

		4,898
		14,861
		2,215
		618
		-

			12,879
		22,592

4. Expenditure – Charitable Activities

Church life & outreach Gross salaries Employer pension contributions Non salaried workers Meetings & services Café Tots & toddlers Gifts & grants Other Office costs Postage & stationery Telephone & internet Insurance Computer consumables Payroll processing Professional fees Other Church building & facilities Council tax Utilities Insurance Maintenance, cleaning & equipment Ground rent Depreciation Governance costs Independent examination	Unrestricted 2025 £ Restricted 2025 £ 5,507 - 277 - 1,690 - 5,828 - 4,950 - 1,101 - 1,540 2,812 1,088 - 21,981 2,812 34 - 1,417 - 183 - 155 - 734 - 3,051 - 2,261 - 7,835 0 3,814 - 32,156 - 2,372 - 36,480 - 300 - 414 - 75,536 0 1,200 - 106,552 2,812		Total		Total 2024 £ 5,225 239 1,754 4,309 5,911 972 2,750 2,055
			2025
			£

			5,507
			277
			1,690
			5,828
			4,950
			1,101
			4,352
			1,088

					23,215 13 1,577 339 - 513 - 1,857
			24,793

			34
			1,417
			183
			155
			734
			3,051
			2,261

					4,299 3,605 22,941 2,075 12,246 325 198
			7,835

			3,814
			32,156
			2,372
			36,480
			300
			414

					41,390 960
			75,536

			1,200

					69,864
			109,364

There was 1 (2024: 1) employee.

HIGHGATE INTERNATIONAL CHURCH

Notes to the Financial Statements For the year ended 31 March 2025

5. Tangible Fixed Assets

Cost At 1 April 2024 Additions Disposals At 31 March 2025 Depreciation At 1 April 2024 Charge For Year Disposals At 31 March 2025 Net Book Value At 31 March 2025 At 31 March 2024	Freehold land & buildings £ Leasehold land & buildings £ Fixtures, fittings & equipment £ 2,050,000 2,012,242 20,872 - - 859 - - - 2,050,000 2,012,242 21,731 - - 20,357 - - 414 - - - 0 0 20,771 2,050,000 2,012,242 960 2,050,000 2,012,242 515	Total £ 4,083,114 859 - 4,083,973 20,357 414 - 20,771 4,063,202 4,062,757

Property Valuations

Property	Property type	Valuation	Valuation Basis
272 Archway Road, London N6	Church building	1,516,042	£250 per square foot. Valuation represents the Trust’s share
324 St John’s Way, London N19	Residential property	496,200	Local sold and current for sale valuations as comparators
143 Park Road, London N8	Residential property	950,000	Local sold and current for sale valuations as comparators
16 Despard Road, London N19	Residential property	1,100,000	Local sold and current for sale valuations as comparators

Property valuations are trustee estimates based on comparable market evidence as at 31 March 2025 and no formal professional valuation was commissioned.

6. Debtors

Gift Aid receivable Prepayments Other debtors		2025		2024 £ 2,806 2,215 160
		£

		2,229
		3,110
		160

				5,181
		5,499

HIGHGATE INTERNATIONAL CHURCH

Notes to the Financial Statements For the year ended 31 March 2025

7. Creditors - Amounts Falling Due Within One Year

At 1 April 2024 £ 0 0 0 792 792	Income £ Expenditure £ 46 - 1,575 (1,575) 875 - 496 (1,237) 2,992 (2,812)	Transfers £ - - - - 0	2025	2024 £ 1,900
			£

			6,265



At 1 April 2024 £ 0 0 0 792 792				At 31
				March
				2025
				£

				46
				0
				875
				51


				972


At 1 April 2023 £ 1,383	Income £ Expenditure £ 2,189 (2,750)	Transfers £ (30)	Gains/ (losses) £ -
At 1 April 2023 £ 1,383				At 31
				March
				2024
				£

				792

The transfer between restricted and unrestricted funds follows the decision of the Trustees to consider the amount as unrestricted because the entity to which this was going to be donated to has stopped operating.

Descriptions of the restricted funds are as follows:

Hospice - funds received specifically to support a particular hospice in memory of a church member. Pastor Zaki - funds received specifically for supporting an unexpected visit to his homeland (South Africa) for a funeral. Sound Desk - funds received specifically for supporting the provision of a new sound mixing board and improvements to the staging.

Mission Fund – funds received specifically for supporting the church’s various mission partners.

9. Related Party Transactions

Certain of the Trustees incur costs on behalf of the Trust which are reimbursed on presentation of invoices.

Mark Davies and Alistair Hornal, key management personnel, provide ministry support to the church at 272 Archway Road. As both now live at a distance from London, when they are visiting for ministry purposes, they receive contributions towards travel expenses and free use of the accommodation that the CIO has available.

Paula Millard, a trustee, is to receive total fees of £100 (2024: £700) for the time spent in preparing minutes of Trustees’ meetings in 2024-25. The Trustees are satisfied that these payments are empowered by clause 6 of the CIO’s constitution and are lawful under the terms of ss. 185–188 of the Charities Act 2011.

No other trustee was, or will be, remunerated for services to the charity 2024-25.

In so far as trustees give to support the work of the Trust, they do so at least in part anonymously out of respect for biblical principles relating to Christian giving (e.g., Matthew 6: 1–8); the aggregate amount of donations by trustees is therefore not known, and, even if it were known to those keeping the church’s accounts, it would not be appropriate to publish it.