DocuSign Envelope ID: E0ABE79F-0BE0-46DF-AE3F-678E2A747693
CASTLEFIELDS CHURCH (CIO) ACCOUNTS AND ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024
CHARITY NO: 1192197
Cound & Co LLP Chartered Accountants 1 Princes Court Royal Way Loughborough Leics LE11 5XR
Tel: 01509 214163
DocuSign Envelope ID: E0ABE79F-0BE0-46DF-AE3F-678E2A747693
CASTLEFIELDS CHURCH (CIO)
FOR THE YEAR ENDED 31 MARCH 2024
| Contents | Page |
|---|---|
| Report of the Trustees | 1-2 |
| Independent Examiner’s Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6-8 |
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CASTLEFIELDS CHURCH (CIO)
FOR THE YEAR ENDED 31 MARCH 2024
The trustees are pleased to present their report together with the financial statements of the charity for the year ended 31 March 2024.
REFERENCE AND ADMINISTRATIVE DETAILS
CHARITY NAME Castlefields Church (CIO) CHARITY NUMBER 1192197 PRINCIPAL OFFICE Traffic Street Derby DE1 2NL
The trustees serving during this period were also the Elders of the Church, namely:
David Fielding (Chair) Lee David Rowcroft (Church Treasurer) David James Sherwood Richard Paul Carvell Peter Fry
INDEPENDENT EXAMINERS
Cound & Co LLP 1 Princes Court Royal Way Loughborough Leics LE11 5XR
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity is constituted under a deed of declaration dated 5 November 2020. It is currently governed by 5 Trustees who meet together four times per year formally and at other times as required. They sign off the budget and the annual accounts and annual return. They receive a quarterly summary of the finances for review and two of the Trustees meet bi-annually to review the finances and have the opportunity to ask questions and ensure everything is running in accordance with the Trust. The Trustees ensure that all insurances are in place and that appropriate Health and Safety and Employment procedures are used that are compliant with legislation.
ACHIEVEMENTS AND PERFORMANCE
This has been our second year of full operation as a CIO. Trustees meetings have taken place on 09/05/23, 19/06/23, 03/07/23, 09/10/23 and 30/01/24. These meetings have been supplemented by additional meetings in our pastoral role as Elders, and jointly, on more practical matters, with the Church Deacons. Members meetings have been held on 10/07/23, 31/07/23, 11/09/23, 16/10/23 and 18/03/24.
Six Church Policies were reviewed in the year and the Church Deacons are working on a full list of the required policies that need to be in place for the charity in the coming year.
The most significant change during the financial year was the appointment of Richard Carvell as Elder/Pastor in a full-time, salaried capacity. This was approved by the church membership after presentation of the proposal by the current Eldership/Trustees. Richard Carvell was present during some of the parts of meetings relating to this appointment, so that the remaining Trustees could properly discuss and assess a level of remuneration that would be suitable to recommend to the church membership. He was absented from all parts of meetings that decided the final salary and contract conditions. Contract conditions were based on a template provided by professional legal advisors and the salary/pension package was discussed in detail with a qualified Financial Advisor. Regular church income will be monitored to assess whether the substantial “buffer fund” that was reported last year (and remains in the year end accounts) needs to be accessed.
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CASTLEFIELDS CHURCH (CIO)
FOR THE YEAR ENDED 31 MARCH 2024
ACHIEVEMENTS AND PERFORMANCE (Cont’d)
The church membership was kept appraised of developments throughout negotiations and a final proposal with full rationale of the financial implications for the church/charity was put to the membership at a meeting on 31[st] July. A secret ballot of all 52 members that were eligible to vote was taken. The proposal was carried – 47 for/5 abstain/0 against.
David Fielding had ceased to be remunerated from 1[st] January 2022 but was still continuing to fulfil the activities of his full-time employment. In view of the appointment of Richard Carvell, David indicated in writing on 19[th] September 2023 to the Trustees that he would stand down from this role at the end of the year. This was conveyed to the church members. David indicated his willingness to continue as an Elder/Trustee and this was clarified to the membership at the members meeting on 18[th] March 2024. For the present time David will continue as Elder & Chair of Trustees.
At an initial Elders Meeting in 2024, Richard Carvell presented a detailed proposal to the Elders/Trustees of how he intends to operate in his role and where the immediate priorities lie. This was subsequently presented to the church members at a meeting on 18[th] March 2024. Further details will be worked out gradually over the year ahead to ensure that the revised activities match the charity’s aims and purpose.
All the regular meetings of the church continue as in the previous year. Sunday Services continue to be held at Derby Conference Centre, London Road and most other meetings at Traffic Street.
The focus on the employment of a full-time Elder during the year resulted in the matter of the need of a new premises taking a secondary place. However, a possible venue in Kedleston Road, Derby came to our attention in September and considerable efforts were directed at this to assess suitability. A members meeting was informed of the details and a prepurchase survey was commissioned. It was decided that we could not make a credible offer for the building, and this has now been acquired by another party. Significant lessons were learned during the process and this has resulted in the church Deacons working on a more thought-through strategy document that will assist the Trustees and members as future possibilities arise. The matter remains a key item for the immediate and longer-term future. The significant fund dedicated to this matter therefore remains in place and this is reflected in the year end accounts.
Giving to other Christian missionary and charity organisations has continued this year, but is the subject of a further review to ensure that this is in line with a strategy approved by the church members.
……………………………………. David Fielding Chairman of Trustees
11 June 2024
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INDEPENDENT EXAMINER’S REPORT TO THE OFFICERS OF
CASTLEFIELDS CHURCH (CIO)
I report on the accounts of the charity for the year ended 31 March 2024, which are set out on pages 4 to 8.
Respective Responsibilities of Trustees and Examiner.
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this period under section 144(2) of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act:
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follow the procedures laid down in the General Directions given by the Charity Commissioners under section 145(5)(b) of the Charities Act: and
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state whether particular matters have come to my attention.
Basis of Independent Examiner’s Statement
My examination was carried out in accordance with the 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 you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair” view and the report is limited to those matters set out in the statement below.
Independent Examiner’s Statement
In connection with my examination, no matter has come to my attention:
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1) which gives me reasonable cause to believe that, in any material respect the requirements
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to keep accounting records in accordance with section 130 of the Charities Act; and
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to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Charities Act
have not been met; or
- 2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
D R Gradon MA FCA Cound & Co LLP Chartered Accountants 1 Princes Court Royal Way Loughborough Leics LE11 5XR 11 June 2024
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CASTLEFIELDS CHURCH (CIO)
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2024
| INCOME Donations & Legacies: Grants and Gifts received Tax refunds under Gift Aid From Castlefields Church Investments: Interest Received Sundry Income TOTAL INCOME EXPENDITURE Expenditure on Charitable Activities TOTAL EXPENDITURE NET INCOME TRANSFERS BETWEEN FUNDS NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS TOTAL FUNDS BROUGHT FORWARD TOTAL FUNDS CARRIED FORWARD |
Unrestricted Restricted Designated Total Total Funds Funds Funds Funds Funds Notes 2024 2024 2024 2024 2023 82012 - - 82012 59319 10806 - - 10806 10099 - - - - 438375 4622 - - 4622 1232 140 - - 140 228 __ _ 97580 - - 97580 509253 2 57442 - 95 57537 38611 57442 - 95 57537 36811 40138 - (95) 40043 470642 (80800) - 80800 - - (40662) - 80705 40043 470642 267067 - 203575 470642 - 226405 - 284280 £510685 £470642 ___ |
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CASTLEFIELDS CHURCH (CIO)
BALANCE SHEET AS AT 31 MARCH 2024
| FIXED ASSETS CURRENT ASSETS Debtors Cash at Bank and in Hand LIABILITIES: Creditors: Amounts falling due within one year NET CURRENT ASSETS TOTAL NET ASSETS THE FUNDS OF THE CHARITY Unrestricted General Funds Restricted Funds Designated Funds TOTAL FUNDS |
Notes 4 5 6 6 6 6 |
2024 221127 - 290098 __ 290098 _ 540 289558 510685 226405 - 284280 £510685 ___ |
2023 221127 - 250055 __ 250055 _ 540 249515 470642 267067 - 203575 £470642 ___ |
|---|---|---|---|
Approved by the trustees on 11 June 2024 and signed on their behalf by:
……………………………………
Lee Rowcroft
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CASTLEFIELDS CHURCH (CIO)
NOTES TO THE ACCOUNTS - FOR THE YEAR ENDED 31 MARCH 2024
1) Accounting Policies
a) Accounting Convention
These financial statements 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 FRS102 the Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS102”) (effective 1 January 2016)’, FRS102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (effective September 2016) and the Charities Act 2011. The disclosure requirements of Section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view. The charity constitutes a public benefit entity under FRS102.
Assets and liabilities are initially recognised at historical cost or transactional value unless otherwise stated in the relevant accounting policy note and the financial statements are prepared on a going concern basis. The financial statements are prepared in sterling, which is the financial currency of the charity and rounded to the nearest £1.
b) Funds
General funds represent the funds of the church that are not subject to any restrictions regarding their use and are available for application on the general purposes of the church.
Restricted funds are those funds that must be spent on their restricted purposes. Gifts designated by the donor for a particular charity or project and received as income are treated as Restricted funds and the monies are remitted to the appropriate recipients as soon as possible.
c) Support Services
These comprise the administration and running costs (less insurance) of the Church.
d) Fixed Assets
These are included in the accounts at the Trustees estimate of the market value.
2) Direct Charitable Costs
| Ministry Rent Utilities Insurance Support Services Outreach activities Maintenance of Buildings and Equipment Work Among the Young Visiting Speakers Office Supplies Advertising Miscellaneous Costs Telephone Professional Fees Conferences and Training Grants paid (see Note (3) for details) Bank Charges Church Away Day |
2024 2024 2024 Unrestricted Restricted Designated Notes Funds Funds Funds 13509 - - 11210 - - 2915 - - 1277 - - 783 - - 944 - - 2236 - - 385 - - 725 - - 1476 - - 781 - - 247 - - 574 - - 7798 - - 440 - - 11657 - 95 7 - - 478 - - _ __ £57442 £- £95 _ ___ |
2024 Total Funds 13509 11210 2915 1277 783 944 2236 385 725 1476 781 247 574 7798 440 11752 7 478 _ £57537 ____ |
2023 Total Funds - 6150 2120 1256 732 1085 436 315 320 1051 476 348 257 5025 617 18285 138 - _ £38611 ____ |
2023 Total Funds |
|---|---|---|---|---|
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CASTLEFIELDS CHURCH (CIO)
NOTES TO THE ACCOUNTS - FOR THE YEAR ENDED 31 MARCH 2024
3) Grants Paid
| 2024 | 2024 | 2024 | 2024 | 2023 | |
|---|---|---|---|---|---|
| Unrestricted | Restricted | Designated | Total | Total | |
| Funds | Funds | Funds | Funds | Funds | |
| CFL | 3450 | - | - | 3450 | 3425 |
| Robert Baghurst | 500 | - | - | 500 | 2675 |
| Open-Air Mission | 2050 | - | - | 2050 | 1930 |
| GBM | 1100 | - | - | 1100 | 1000 |
| GBM (James Hammond) | - | - | - | - | 850 |
| CCM | 700 | - | - | 700 | 1140 |
| Mandritsara | 1150 | - | - | 1150 | 1050 |
| SASRA | 1150 | - | - | 1150 | 1550 |
| Taste | - | - | - | - | 1050 |
| John Ferdinando | - | - | - | - | 480 |
| Sahara Desert Mission | - | - | - | - | 480 |
| Barnabas Fund | - | - | - | - | 480 |
| Ukraine – EMF/SGA | - | - | - | - | 1750 |
| Derby University CU | - | - | - | - | 200 |
| Radstock Ministries | 1000 | - | - | 1000 | - |
| Beach Mission Support | 100 | - | - | 100 | - |
| East Mids Churches Day | 100 | - | - | 100 | - |
| Davenport Road | 200 | - | - | 200 | - |
| Littleover Methodist | 77 | - | - | 77 | - |
| Others | 60 | - | 95 | 155 | 225 |
| _____ | ____ | ____ | _____ | _____ | |
| £11657 _____ |
£- ____ |
£95 ____ |
£11752 _____ |
£18285 _____ |
4) Fixed Assets
| Cost At 1 April 2023 Additions At 31 March 2024 Depreciation At 1 April 2023 Charge for the year At 31 March 2024 Net Book Value at 31 March 2024 Net Book Value at 31 March 2023 |
Freehold Land and Buildings Total 221127 £221127 __ _ - - __ - - __ 221127 £221127 221127 £221127 ___ |
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CASTLEFIELDS CHURCH
NOTES TO THE ACCOUNTS - FOR THE YEAR ENDED 31 MARCH 2024
5) Cash at Bank
| 2024 | 2023 | |
|---|---|---|
| Leeds Building Society | 67514 | 66866 |
| Charity Bank | 82906 | 80722 |
| Lloyds Bank | 55448 | 32026 |
| Kingdom Bank | 84230 | 70441 |
| ______ | ______ | |
| £290098 ______ |
£250055 ______ |
6) Analysis of Net Assets by Funds
| 2024 2024 2024 Unrestricted Restricted Designated Funds Funds Funds Fixed Assets 221127 - - Current Assets 5818 284280 Current Liabilities (540) - - __ £226405 £- £284280 __ Balance at 31 March 2023 Receipts Payments Designated Funds: New Building Fund 77000 - - Future Ministry 125500 - - Pastoral Fund 1075 - (95) _ £203575 £- £(95) _ ____ |
2024 2023 Total Total Funds Funds 221127 221127 290098 250055 (540) (540) __ _ £510685 £470642 Transfers Balance at 31 March 2024 60400 137400 20400 145900 - 980 _ £80800 £284280 __ ____ |
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