CHARITY REGISTRATION NUMBER 1194553
Independent Examiners Ltd
Unit 2 The Broadbridge Business Centre Delling Lane, Bosham, PO18 8NF
RIVER CHURCH IPSWICH
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024
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Page
Legal and Administrative Information 3
Trustees' Report 4 to 7
Independent Examiner's Report on the Accounts 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Accounts 11 to 19
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RIVER CHURCH IPSWICH
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER
1194553
START OF FINANCIAL YEAR
END OF FINANCIAL YEAR
01 January 2024
31 December 2024
TRUSTEES AT 31 DECEMBER 2024
Revd Amy Key (Chair) (ex officio) Appointed 20 May 2021 Revd Matthew Key (Vice-Chair (ex officio) Appointed 20 May 2021 Mr Ian Sturgess Appointed 20 May 2021 Mr Robin Elsdon-Dew Appointed 20 May 2021 Mr Kim Vaudrey Appointed 20 May 21 (Resigned 3 Jan 24) Dr Amy Mills Appointed 27 March 2022 Kerry Addo-Hill Appointed 16 Sep 2024 Mark Sheard Appointed 3 June 2024 Sharnai Reddi Appointed 26 Feb 2024 Lauren Allen Appointed 23 Jan 2024
New trustees are appointed in accordance with the provisions of the constitution.
GOVERNING INSTRUMENT
CIO-FOUNDATION adopted 20th May 2021
REGISTRATION DATE
20 May 2021
OBJECTS
The advancement of the Christian Religion by the setting up and running of new Christian Churches in accordance with the principles and established teaching of the Church of England in the town of Ipswich and the County of Suffolk.
CORRESPONDENCE ADDRESS River Church Ipswich St Mary-at-the-Quay Key Street Ipswich Suffolk IP4 1BZ PRIMARY BANKERS Lloyds Bank PLC Oldham PO Box 1000 BX1 1LT INDEPENDENT EXAMINER Gary Shulz (ACMA) Independent Examiners Ltd Unit 2 The Broadridge Business Centre Delling Lane Bosham PO18 8NF
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RIVER CHURCH IPSWICH
TRUSTEES' REPORT FOR THE YEAR ENDED 31ST DECEMBER 2024
The board of trustees present their reports and accounts for River Church Ipswich for the period ending 31st December 2024.
Structure, Governance and Management
River Church Ipswich is a Charitable Incorporated Organisation (CIO) registered in the UK with the Charity Commission of England and Wales (registered number 1194553). River Church Ipswich is governed by a constitution, adopted upon the charity’s registration on 20th May 2021, and according to which trustees are appointed.
Decision Making
All financial and strategic decisions over £5,000 are taken by the trustees. The organisational implementation of the strategy is carried out by the Church Leaders and their staff team, in accordance with the trustees’ Scheme of Delegation.
Trustee Training
All staff, volunteers, and trustees undergo a formal selection process, followed by an induction period which includes any training necessary to effectively perform their role. Senior leadership of the church consists of clergy, whose stipendiary remuneration is set by the Diocese of St Edmundsbury and Ipswich.
Volunteers
River Church benefits from the dedicated work of a great number of volunteers. In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in these accounts.
Objects and Activities
Our objects are set out in our governing document, which was adopted by the trustees upon the charity’s registration on 20th May 2021.
Our objects are:
The advancement of the Christian religion by the setting up and running of new Christian churches in accordance with the principles and established teaching of the Church of England in the town of Ipswich and the county of Suffolk.
Dream, Purpose, and Goals
The board of trustees is committed to our dream, purpose, and goals. Our dream is to see Ipswich overflowing with life. Our purpose is to love God, love Ipswich, and love life.
Our goals are to be Spirit-filled, people-empowering, fun-loving, and abundantly-living.
In accordance with these statements, the church aims to meet its objects through a diverse range of activities including the provision of: Christian worship, evangelism, and discipleship; social transformation activities; and church planting. Given the diversity of the church’s activities, performance is measured on a case-by-case basis.
Public Benefit
In accordance with our duties stated in section 17(5) of the Charities Act, we have considered the guidance provided by the Charity Commission in relation to public benefit. This public benefit has been demonstrated by the activities undertaken since the inception of the charity outlined in this document.
Achievements and Performance
River Church is an HTB Network church plant in the centre of Ipswich. As part of the Church of England Diocese of St Edmundsbury and Ipswich’s Inspiring Ipswich project, River Church has a remit to reach out to students at the University of Suffolk, young adults, young families, and those on the margins of society in Ipswich, and to grow into a thriving resource church for Suffolk
Love God: Worship and Prayer
River Church runs a number of worship services and events. THE TEN is an informal, contemporary service with groups for children, which launched in January 2023. THE SIX is an informal, contemporary service, aimed at students, young people, and young adults in particular. 7am Prayer on Tuesday mornings continues to grow and flourish; it is the engine room of the church, and we have seen many answered prayers, healings, breakthroughs, and prophetic words there. Overflow is a monthly event featuring an evening of uninterrupted, informal prayer, worship, and ministry in the Holy Spirit.
By the end of 2024, average weekly attendance across these services was 240 people (up from 179 in 2023).
The total mission initiative roll (Church of England measure of total congregation size) has grown to 369 adults (up from 302 in 2023), two-thirds of whom are aged under 35.
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RIVER CHURCH IPSWICH
TRUSTEES' REPORT (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2024
Love Ipswich: Social Transformation
We ran our second Pre-Marriage Course , which supported 5 couples who are engaged or thinking about getting married to develop healthy, lasting relationships, by covering topics such as communication, conflict, and expectations. We also ran a regular group providing support to single people.
We packed and delivered more than 800 bags of kindness to vulnerable and isolated people across Ipswich as part of our Love Christmas and Love Easter campaigns. More than 2,000 individuals benefited from the project, with recipients including those experiencing homelessness, prisoners, those living in poverty or financial difficulty, students isolated from their families over Christmas, and those experiencing mental or physical ill health, or loneliness.
We ran 4 Spear programmes in 2024, supporting NEET (not in employment, education or training) 16-24 year olds with employability.
Members of River Church facilitated weekly sessions supporting prison residents at HMP Hollesley Bay. They also ran Alpha sessions and worship nights for them in partnership with the prison chaplaincy.
River Coffee continued to operate Monday to Friday, 10am to 3pm until May 2024. It has temporarily ceased trading to give the trustees time to consider the long-term future of River Coffee and a new Coffee Shop Manager has not been recruited. Before its pause, River Coffee welcomed a wide variety of guests, including those inside and outside the church congregation, passers-by, those buying coffee and a snack whilst meeting friends, those unable to buy a drink but in need of a warm space, and students looking for a comfortable place to study. We have continued to train new volunteers, and those seeking work experience, as baristas.
Baby Love , which is a free, weekly space for babies and toddlers, and their parents and carers continued to grow in 2024. Baby Love provides soft play and toys, opportunities for children and carers to meet and interact, and refreshments through River Coffee.
River Store , our social supermarket provides food and household essentials to those in financial hardship, as well as a free hot drinks from River Coffee. River Store has grown quickly we have provided more than 40,000 meals to those in need from more than 400 households in 2024.
Love Life: Evangelism and Discipleship
We have run 7 Alpha courses this year, with a total of 99 people attending (64 guests and 35 team).
This year, we have seen 32 people decide to follow Jesus at River Church, and a total of 124 new Christians since the church launched.
We have run 7 Hangouts in 2024. These are our small groups providing discipleship, pastoral care, and community, meeting in homes across Ipswich, and 80 people are now in Hangouts.
We have celebrated 9 baptisms in 2024.
62 people from River Church attended our annual HTB Network festival, Focus , over the summer.
As part of our remit as a Resource Church , supporting other churches across Suffolk we have run and hosted a number of deanery and diocesan events, including Diocesan Evangelical Network meetings to support other local churches and leaders in their work. We have also provided preachers and worship leaders for other churches in Suffolk who are less well resourced. We are now the Love Your Neighbour Hub Church for Suffolk. As the Alpha Hub Church for Suffolk, we ran a town-wide Alpha campaign, training, equipping and supporting 10 churches across Ipswich to run 16 Alpha courses in early 2024. More than 350 people attended, and around 50 people became Christians and/or started attending church as a result.
We have continued to grow our student ministry in 2024, running weekly Student Nights during term time (both socials and discipleship input), weekly Bible and Brunch Bible study sessions for students, providing staff and volunteer support to the University of Suffolk Chaplaincy , and being present at Freshers with our own stall, where we distributed hundreds of River student welcome packs and free merchandise. Around 40 students now engage with River Church activities and events.
River Collective continued to provide social events across the town to build supportive community among 20s and 30s in their journey with Jesus.
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RIVER CHURCH IPSWICH
TRUSTEES' REPORT (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2024
Staffing and Volunteering
The River Church staff team consists of 11 people, comprising 2 full-time clergy, 1 ordinand, and 8 operational and ministry staff. We also have 2 outstanding staff vacancies, which would take the total staff to 13 people. We continue to work towards expanding the staff team to grow our capacity for mission, ministry, and church planting in the future. Three individuals from River Church are in the process of discernment for ordination training in the Church of England.
115 people have volunteered as part of our Dream Team in 2024.
Future Plans
The charity plans on continuing, expanding, and adding to its existing activities in forthcoming years, subject to satisfactory funding becoming available.
Reserves Policy
River Church aims to accumulate and retain as unrestricted reserves three months’ running costs. At the end of 2024, unrestricted reserves totalled £43,269 (2023: £57,972).
Financial Review
In the period to the end of 31st December 2024, River Church raised a total income of £382,637 (2023: £329,372) against a total expenditure of £450,256 (2023: £315,382). Unrestricted funds at the end of the year totalled £43,269 (2023: £57,972). Restricted funds at the end of the year totalled £18,453 (2023: £71,369).The balance in the bank at the end of the year totalled £55,964 (2023: £146,641). For further details, please see the below financial statements.
Safeguarding
The trustees have adopted the Church of England’s safeguarding policy, relating to children, young people, and vulnerable adults. Lauren Allen served alongside Matt Key as Safeguarding Officer, supported by the diocesan safeguarding officer. The trustees are committed to best practice in safeguarding, through the implementation of our policy, which includes provision for DBS checks, safeguarding training, safer recruitment, and practical measures to protect everybody involved in and served by River Church. Further details and the full policy are available at riverchurchipswich.org.
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RIVER CHURCH IPSWICH
TRUSTEES' REPORT (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2024
Responsibilities of Trustees
Charity law requires the Board of 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 incoming resources and resources expended for the period. In preparing those financial statements, the Board of Trustees should follow best practice and are required
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select suitable accounting policies and apply them consistently
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make judgments and estimates that are reasonable and prudent
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comply with applicable accounting standards subject to any material departures disclosed and explained in the financial statements
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation
The Board of Trustees is responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 1993. They 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 and to provide reasonable assurance that:-
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the charity is operating efficiently and effectively
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all assets are safeguarded against unauthorised use or disposition and are properly applied
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proper records are maintained and financial information used within the charity or for publication is reliable
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the charity complies with relevant laws and regulations
The systems of internal control are designed to provide reasonable but not absolute assurance against material misstatement or loss.
Approved by the Trustees on….....................................3/7/2025
Signed on their behalf by Trustee …..............................
Printed Name: REV AMY KEY
7
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RIVER CHURCH IPSWICH
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024
| Notes INCOMING RESOURCES Donations & Legacies 3a Investment Income 3b Charitable Activities 3c TOTAL INCOMING RESOURCES Costs of Charitable Activities 4a Costs of Generating Funds 4b NET INCOMING/(OUTGOING) RESOURCES TOTAL FUNDS BROUGHT FORWARD TOTAL FUNDS CARRIED FORWARD RESOURCES EXPENDED NET MOVEMENT IN FUNDS TOTAL RESOURCES EXPENDED TRANSFERS BETWEEN FUNDS |
Unrestricted Restricted Designated Total Total Funds Funds Funds 2024 2023 £ £ £ £ 275,713 72,540 7,414 355,667 298,796 1,303 - - 1,303 585 25,668 - - 25,668 29,991 |
|---|---|
| 302,684 72,540 7,414 382,637 329,372 |
|
| 283,068 138,155 6,217 427,440 315,382 20,772 - - 20,772 - |
|
| 303,840 138,155 6,217 448,212 315,382 |
|
| (1,156) (65,616) 1,197 (65,574) 13,989 (11,354) 12,700 (1,346) - - |
|
| (12,509) (52,916) (149) (65,574) 13,989 |
|
| 32,823 71,369 25,149 129,341 115,352 |
|
| 20,314 18,453 25,000 63,767 129,341 |
All of the Charity's operations are classed as continuing operations.
The notes form part of these financial statements, found on pages:11 to 19
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RIVER CHURCH IPSWICH
BALANCE SHEET
AS AT 31 DECEMBER 2024
| Fixed Assets Notes Tangible Assets 2 Current Assets 9 8 Total Current Assets 10 11 5 6 Creditors:due in more than one year Debtors & Prepayments TOTAL ASSETSless current liabilities Cash at bank and in hand Creditors:due within one year NET CURRENT ASSETS TOTAL FUNDS NET ASSETS FUNDS OF THE CHARITY Designated Funds General Funds Restricted funds |
Unrestricted Restricted Total Total Fund Funds 31-Dec-24 31-Dec-23 £ £ £ 12,438 - 12,438 16,584 |
|---|---|
| 12,438 - 12,438 16,584 |
|
| 2,146 - 2,146 4,110 37,511 18,453 55,964 146,641 |
|
| 39,657 18,453 58,110 150,751 |
|
| 6,326 - 6,326 37,766 33,331 18,453 51,784 112,985 |
|
| 45,769 18,453 64,222 129,569 455 - 455 228 |
|
| 45,314 18,453 63,767 129,341 |
|
| 20,314 - 20,314 32,823 - 18,453 18,453 71,369 25,000 - 25,000 25,149 - |
|
| 45,314 18,453 63,767 129,341 |
Approved by the Trustees on the…..................................................................................................................3/7/2025
Signed on their behalf by Trustee....................................................................................................................
Print Name:…............................................................REV AMY KEY
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RIVER CHURCH IPSWICH
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2024
1. ACCOUNTING POLICIES
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year.
Basis of preparation:
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2022.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
Assessment of Going Concern
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.
Recognition of Incoming Resources
These are included in the Statement of Financial Activities (SOFA) when:
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the charity becomes entitled to the resources;
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the trustees are virtually certain they will receive the resources; and · the monetary value can be measured with sufficient reliability.
Incoming Resources with Related expenditure
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resources and related expenditure are reported gross in the SOFA.
Grants and Donations
Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Tax Reclaims on Donations and Gifts
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
Contractual Income and Performance Related Grants
This is only included in the SOFA once the related goods or services has been delivered.
Gifts in Kind
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as income receivable.
Volunteer Help
The value of any voluntary help received is not included in the accounts and is described in the Report of the Trustees.
Donated Services and Facilities
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
Investment Income
This is included in the accounts when receivable.
Investment Gains and Losses
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
This page does not form part of the statutory financial statements
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RIVER CHURCH IPSWICH
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2024
1. ACCOUNTING POLICIES (continued)
Expenditure and Liabilities
Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Governance Costs
Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advise to trustees on governance or constitutional matters.
Grants with Performance Conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
Grants Payable without Performance Conditions
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
Investments
Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.
Pensions
Pension contributions are charged to the Statement of Financial Activities as they become payable.
Fund Accounting
Funds held by the charity are either:
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・ Unrestricted funds
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These are funds which can be used in accordance with the charity's objectives, at the discretion of the trustees.
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・ Restricted funds
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These are funds that can only be used for particular restricted purposes within the objects of the charity.
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・ Designated funds
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These funds are funds set aside by the trustees out of unrestricted general funds for specific purposes or projects.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Fixed Assets
Fixed Assets are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt.
Depreciation Expense
Depreciation is calculated at a rate to write off the cost of tangible fixed assets over their estimated useful lives. The rates applied are as follows:
Furniture & Fittings 25% Equipment 25%
There has been no change to the accounting polices (Variation rules and methods of accounting) since last year.
This page does not form part of the statutory financial statements
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RIVER CHURCH IPSWICH
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2024
2. TANGIBLE FIXED ASSETS
| Additions At 31 December 2024 Net Book Value At 31 December 2024 At 31 December 2023 At 31 December 2024 Accumulated Depreciation At 1 January 2024 Charge for the Year Cost At 1 January 2024 |
Equipment Furniture & Fittings 2024 £ £ £ 16,337 7,986 24,323 - - - |
|---|---|
| 16,337 7,986 24,323 |
|
| 5,019 2,720 7,739 2,830 1,316 4,146 |
|
| 7,848 4,037 11,885 |
|
| 8,489 3,949 12,438 |
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| 11,318 5,266 16,584 |
The annual commitments under non-cancelling operating leases and capital commitments are as follows:
31st December 2024 : None
31st December 2023 : None
This page does not form part of the statutory financial statements
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RIVER CHURCH IPSWICH
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2024
3. INCOMING RESOURCES
| Note c) Activities for Generating Funds Merchandise Venue Hire Bridge the Gap Income Coffee Shop-River Coffee Occasional Offices Grants b) Investment Income Interest Received Suffolk Community Foundation Fund (RF) Love Christmas Fund (RF) Pastoral Fund (DF) Focus Income Hospitality Other Income River Store a) Donations & Legacies Donations:Giving Gift Aid Trustees Discretionary Fund (DF) Other Income/reimburse expenses |
Unrestricted Restricted Designated Total Total Funds Funds Funds 2024 2023 £ £ £ £ 87,634 - - 87,634 54,638 12,887 - - 12,887 6,421 - - - - 350 173,387 60,025 5,390 238,802 226,366 1,805 - - 1,805 - - 8,050 - 8,050 - - 4,465 - 4,465 10,126 - - 2,024 2,024 895 |
|---|---|
| 275,713 72,540 7,414 355,667 298,796 |
|
| 1,303 - - 1,303 585 |
|
| 1,303 - - 1,303 585 |
|
| 344 - - 344 883 8,195 - - 8,195 12,257 2,103 - - 2,103 7,179 - - - - 6,682 3,308 - - 3,308 1,600 2,502 - - 2,502 - - - - - 913 531 - - 531 - 8,686 - - 8,686 476 |
|
| 25,668 - - 25,668 29,991 |
This page does not form part of the statutory financial statements
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RIVER CHURCH IPSWICH
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST DECEMBER 2024
4. RESOURCES EXPENDED
| Note EXPENDITURE (CONTINUED) Staff Costs:- Salaries PAYE Pension Contributions Direct costs:- Depreciation expense Tudwick Foundation Fund Governance costs:- Trustee Discretionary Fund Inviting Ipwich Pastoral Fund A Williams Charity Maurken Fund-Bridge the Gap Suffolk Community Foundation Fund River Coffee Premises:Equipment Grants for Mission Grants for social transformation Love Christmas Fund Premises:CCT Rent Premises:Maintenance Premises:Utilities Staffing:Expenses Admin:Stationery, Consumables & Communication-Branding & Website Finance: Book keeping/Payroll fees Finance: Bank charges Ministry Premises:Broadband & Phone Charitable Activities:- Admin:Insurance Admin:Licences & Subscriptions Admin:Office Equipment Independent Examiner Fee Legal & Professional fees b) Cost of Generating Funds Fundraising |
Unrestricted Restricted Designated Total Total Funds Funds Funds 2024 2023 £ £ £ £ 3,780 - - 3,780 3,791 3,231 - - 3,231 2,592 475 - - 475 4,554 490 - - 490 181 3,238 - - 3,238 2,058 640 - - 640 1,250 566 - - 566 388 48,171 - - 48,171 19,751 541 - - 541 818 6,296 - - 6,296 9,500 5,486 - - 5,486 2,028 17,598 - - 17,598 25,114 6,926 - - 6,926 6,225 3,189 - - 3,189 11,600 2,901 - - 2,901 1,373 - 16,250 - 16,250 4,382 - 106,386 - 106,386 18,277 - 4,470 - 4,470 13,859 - - - - 603 - - 2,567 2,567 1,213 - - 650 650 3,170 - 2,000 - 2,000 - - 1,000 - 1,000 - - 8,050 - 8,050 - - - 3,000 3,000 - 153,204 - - 153,204 159,309 13,547 - - 13,547 13,779 7,144 - - 7,144 7,442 4,186 - - 4,186 2,094 852 - - 852 30 605 - - 605 - |
|---|---|
| 283,068 138,155 6,217 427,440 315,382 |
|
| 20,772 - - 20,772 - |
|
| 20,772 - - 20,772 - |
This page does not form part of the statutory financial statements
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RIVER CHURCH IPSWICH
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2024
5. RESTRICTED FUNDS
CURRENT FINANCIAL YEAR
| PREVIOUS FINANCIAL YEAR Grant - Resurgo Spear Programme Grant - NCLF Social supermarket Grant - For Alpha (Restricted) Grant - The Elizabeth Walter Charity Grant - B&Q Foundation (Restricted) Grant - Rank Foundation Pebble Grant Grant - LD Rope Third Charitable Grant - Rank Foundation Pebble Grant Grant - LD Rope Third Charitable Hobson Grant Charity (changed to Grant - St Lawrence Parish Hall Trust Love Christmas Fund (Restricted) Grant - Beatrice Laing Trust Grant - Suffolk Police & Crime Grant - Community Organisation Cost of A Williams Charity Grant - Million Hours Fund Maurken Fund Grant - Resurgo Spear Programme Grant - NCLF Social supermarket Grant - Mr Willats Charity (Restricted) Grant - Mr Willats Charity (Restricted) Grant - Community Organisation Cost of A Williams Charity Grant - Million Hours Fund Maurken Fund Suffolk Community Foundation Grant - St Lawrence Parish Hall Trust Love Christmas Fund (Restricted) Grant - Beatrice Laing Trust Grant - Suffolk Police & Crime Grant - The Elizabeth Walter Charity Grant - B&Q Foundation (Restricted) Grant - For Alpha (Restricted) Hobson Grant Charity (changed to unrestricted general funds 2023) |
Balance Unrealised Balance 01-Jan-24 Income Expenditure Gain/Loss Transfer 31-Dec-24 £ £ £ £ £ £ - - - - - - - - - - - (6,499) 4,465 (4,470) - 6,504 - - - - - - - (6,194) 5,000 (4,250) - 6,194 750 (2) - - - 2 0 1,729 - (1,729) - - - - - - - - - - - - - - - (1) - - - 1 0 30,540 - (30,540) - - - 6,025 - (6,025) - - - 1,250 15,000 (16,250) - - - 44,520 - (44,520) - - (0) - 2,000 (2,000) - - - - 37,025 (19,322) - - 17,703 - 1,000 (1,000) - - - - 8,050 (8,050) - - - |
|---|---|
| 71,369 72,540 (138,155) - 12,700 18,453 Balance Unrealised 01-Jan-23 Income Expenditure Gain/Loss Transfer 31-Dec-23 £ £ £ £ £ £ 4,035 - - - (4,035) - 50 - (50) - - - (2,766) 10,126 (13,859) - - (6,499) 2,500 - - - (2,500) - 64 2,000 (8,258) - - (6,194) 366 - (368) - - (2) 1,729 - - - - 1,729 (1,160) 1,160 - - - - - 240 (240) - - - - 3,500 (3,501) - - (1) - 35,000 (4,460) - - 30,540 - 9,825 (3,800) - - 6,025 - 3,750 (2,500) - - 1,250 - 53,082 (8,562) - - 44,520 - - - - - - - - - - - - - - - - - - |
|
| 4,818 118,683 (45,597) - (6,535) 71,369 |
The Restricted Funds are wholly represented by the Charity's cash reserves and are to be expended as specified above.
This page does not form part of the statutory financial statements
16
RIVER CHURCH IPSWICH
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2024
6. DESIGNATED FUNDS
CURRENT FINANCIAL YEAR
| Trustees Discretionary Fund Reserves (Designated) Pastoral Fund (Designated) Inviting Ipswich (Designated) Total unrestricted funds Total Designated Funds General Funds |
Balance Unrealised Balance 01-Jan-24 Income Expenditure Gain/Loss Transfer 31-Dec-24 £ £ £ £ £ £ (253) - (105) - 359 - 25,000 - - - - 25,000 225 2,024 (544) - (1,705) - 177 2,390 (2,567) - - - |
|---|---|
| 25,149 7,414 (6,217) - (1,346) 25,000 32,823 302,684 (303,840) - (11,354) 20,314 |
|
| 57,972 310,098 (310,056) - (12,700) 45,314 |
PREVIOUS FINANCIAL YEAR
| Total Designated Funds General Funds Total Unrestricted (Incl. Designated Funds) Trustees Discretionary Fund Reserves (Designated) Pastoral Fund (Designated) Inviting Ipswich (Designated) |
Balance Unrealised 01-Jan-23 Income Expenditure Gain/Loss Transfer 31-Dec-23 £ £ £ £ £ - 350 (603) - - (253) 25,000 - - - - 25,000 - 895 (3,170) - 2,500 225 - 1,391 (1,213) - - 177 - |
|---|---|
| 25,000 2,636 (4,987) - 2,500 25,149 85,534 208,053 (264,799) - 4,035 32,823 |
|
| 110,534 210,689 (269,786) - 6,535 57,972 |
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RIVER CHURCH IPSWICH
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2024
7. INVESTMENTS
The Charity held no investment assets during this or the previous financial period.
8. CASH AT BANK AND IN HAND
| 8. CASH AT BANK AND IN HAND | ||||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Designated | Total | Total | ||
| Funds | Funds | Funds | 31-Dec-24 | 31-Dec-23 | ||
| £ | £ | £ | £ | |||
| Lloyds Bank Account | (27,712) | 18,453 | 25,000 | 15,741 | 35,468 | |
| Lloyds Bank Savings Account | 40,223 | - | - | 40,223 | 111,173 | |
| 12,511 | 18,453 | 25,000 | 55,964 | 146,641 | ||
| 9. DEBTORS AND PREPAYMENTS | ||||||
| Unrestricted | Restricted | Designated | Total | Total | ||
| Funds | Funds | Funds | 31-Dec-24 | 31-Dec-23 | ||
| £ | £ | £ | £ | |||
| Sundry accounts receivable | 24 | - | - | 24 | 1,988 | |
| Prepayment | 2,000 | - | - | 2,000 | 2,000 | |
| Pensions | 122 | - | - | 122 | 122 | |
| 2,146 | - | - | 2,146 | 4,110 | ||
| 10. CREDITORS AND ACCRUALS AMOUNTS FALLING DUE WITHIN | ONE YEAR | |||||
| Unrestricted | Restricted | Designated | Total | Total | ||
| Funds | Funds | Funds | 31-Dec-24 | 31-Dec-23 | ||
| £ | £ | £ | £ | |||
| Accounts Payable | 2,724 | - | - | 2,724 | 32,162 | |
| HMRC | - | - | - | - | 4,795 | |
| Rent | 2,750 | - | - | 2,750 | - | |
| Independent Examiner's Fee | 852 | - | - | 852 | 810 | |
| 6,326 | - | - | 6,326 | 37,766 |
11. CREDITORS AND ACCRUALS AMOUNTS FALLING DUE IN MORE THAN ONE YEAR
| Loans | Unrestricted Restricted Designated Total Total Funds Funds Funds 31-Dec-24 31-Dec-23 £ £ £ £ 455 - - 455 228 |
|---|---|
| 455 - - 455 228 |
This page does not form part of the statutory financial statements
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RIVER CHURCH IPSWICH
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2024
12. STAFF COSTS AND NUMBERS
| TOTAL 2024 £ Gross Wages & Salaries 153,204 Employer's National Insurance Costs 13,547 Employer's Pension Contributions 7,144 173,896 Average number of employees who were engaged in each of the following activities: TOTAL 2024 Charitable Activities 11 11 |
TOTAL 2023 £ 159,309 13,779 7,442 |
|---|---|
| 180,530 | |
| TOTAL 2023 11 |
|
| 11 |
The River Church staff team consists of 11 people, comprising 2 full-time clergy, 1 ordinand, and 8 operational and ministry staff.
The Charity operates a PAYE scheme to pay all employed members of staff and no employees received emoluments in excess of £60,000. (2023 - None)
13. TRUSTEES AND OTHER RELATED PARTIES
No payments were made to trustees or any persons connected with them during this financial period. No material transaction took place between the organisation and a trustee or any person connected with them.
(2023 - None)
14. RISK ASSESSMENT
The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
15. RESERVES POLICY
The Trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The Trustees aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily.
16. PUBLIC BENEFIT
The Charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Trustees' report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.
This page does not form part of the statutory financial statements
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