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2024-12-31-accounts

St Barnabas Grange Park Annual Report – 31 December 2024

St Barnabas Grange Park Charity No. 1195102 (Registered 8th July 2021)

Annual reports and financial statements

Financial Year Ending 31 December 2024

Registered Address: 58 Alan Turing Road Loughborough LE11 5NQ

Bankers:

Lloyds Bank 25 Gresham Street London EC2V 7HN

Trustees:

Ben Stockley Claire Rowles Paul Oxbrough Rev Ben Gardner Stephen Adshead Lisa Howlett Chris Martin Tim Whitehead

Independent Examiner:

Jordon Dennis TC Group 31 High View Close Leicester LE4 9LJ

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St Barnabas Grange Park Annual Report – 31 December 2024

CONTENTS

1. TRUSTEES ANNUAL REPORT .......................................................................................... 3 2. INDEPENDENT EXAMINERS REPORT ............................................................................. 7 3. FINANCIAL ACTIVITIES STATEMENT .............................................................................. 8 4. BALANCE SHEET .............................................................................................................. 8 5. ACCOUNTING POLICIES ................................................................................................. 10 6. INCOME UNRESTRICTED FUNDS .................................................................................. 12 6.1 DONATIONS & LEGACIES ............................................................................................ 12 6.2 OTHER INCOME ............................................................................................................. 12 7. EXPENDITURE UNRESTRICTED FUNDS ....................................................................... 13 7.1 CHARITABLE ACTIVITIES ............................................................................................. 13 Charitable Activities - General Fund .............................................................................................................. 13 Charitable Activities - Discretionary Funds .................................................................................................. 13 Analysis of Charitable Funds ......................................................................................................................... 13 7.2 SUPPORT COSTS .......................................................................................................... 14 8. RESTRICTED FUNDS ....................................................................................................... 15 9. STAFF COSTS .................................................................................................................. 15 10. FIXED ASSETS ............................................................................................................... 15 11. FUND MOVEMENT SUMMARY ...................................................................................... 16 12. DEBTORS AND CREDITORS ........................................................................................ 16 13. CASH ACCOUNT BALANCES ....................................................................................... 17

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St Barnabas Grange Park Annual Report – 31 December 2024

1. Trustees Annual Report

Aims and Purposes

St Barnabas Grange Park, Loughborough (STB): an Anglican Church, seeking to reach and serve the 93% of those who have no or little contact with the Gospel of Jesus Christ, especially among young families, serving across the resourcing partnership in Loughborough and Leicester Diocese.

Objectives and Activities

The Trustees are committed to supporting the Pioneer Minister, Reverend Ben Gardner and the Leadership Team to fulfil, safeguard and sustain the missional and charitable objectives of the Church:

Missional & Charitable Objectives:

Building Church Community - What did it look like in 2024?

2024 was another year of growth as we celebrated the baptisms of three adults after a successful Alpha Course hosted at the Arc Community Hub. Our midweek communities continue to be a place of belonging and discipleship. The fortnightly home communion at Woodthorpe Lodge Care Home continues to thrive and is appreciated by residents and staff. Attendance at our Sunday Gatherings, particularly the monthly evening gathering, has increased as we welcome new people to the life of STB. We have also witnessed an increase in the number of volunteers who contribute to the life and vision of STB. Our termly socials have once again been a huge success as we seek to grow in relationships and build community. The year 2024 ended with several fantastic Christmas services, including STB Carols, which many from the local community attended.

Planting beyond STB - what did that look like in 2024?

Whilst seeking to grow and deepen the ministry and mission of STB, we continue to work in partnership with Emmanuel Church Loughborough and the Good Shepherd Church Loughborough to explore the next church plant. In October 2024, the three churches gathered for a weekend of teaching, worship and prayer as we discern where to plant next. We also gather once a term to worship and pray. Alongside this desire to plant new churches, we continue to engage in Diocesan-wide conversations regarding the restructuring of the Diocese.

Reaching the wider community and bringing relief to those in need - what did that look like in 2024?

Our calling to generosity beyond our community continues to be central to the life of our church. Give to Give Away , our monthly initiative to give generously to others, continues to be a blessing. In 2024 significant contributions were given to a new church plant, Christian Aid and Rainbows Hospice. We also partnered with the Charnwood Toy Appeal as toys were given to those who struggle at Christmas. The STB Grant Fund was launched in 2024, which aims to release our Tithe funds to support local missional projects and ignite new initiatives.

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St Barnabas Grange Park Annual Report – 31 December 2024

Loughborough Streets of Light continues to be very popular across our local community as we connected with over 1000 people and gave away 600+ free hot chocolates. Other community events such as The Autumn Social and STB Carols continue to be well attended. STB also partners with Loughborough Churches Partnership (LCP) as it seeks to love and serve Loughborough through projects such as The June Project 2024, which saw over 150 people serve the town in practical acts of kindness (i.e. painting the local wellbeing centre, garden clearances and litter picks).

We look forward to 2025 as we continue to encounter Jesus, build community and see transformation in Grange Park, Loughborough and beyond.

Structure, Governance and Management

STB was created as a church planted from Emmanuel Church, Loughborough in September 2019 and registered as a separate charity (No. 1195102) with effect from 8th July 2021. Emmanuel is the lead church for the Loughborough Resourcing Churches. The Resource Church program is supported by the Diocese of Leicester and in part funded by a broader Church of England Strategic Development Fund (SDF). Emmanuel received SDF grant funding of £50,000, plus some other smaller grants to support the start-up costs of STB.

The Trustees are listed on the first page of this report. Trustees are responsible for the charity on behalf of its beneficiaries. The day-to-day operational work is delegated to the church leader and operations manager who in turn work in partnership with the many volunteers who contribute generously of their time to lead and support the activities that comprise the life and work of the church.

We encourage all who come to STB to consider becoming members of the church. Members are asked to commit to:

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St Barnabas Grange Park Annual Report – 31 December 2024

Financial Review

Overall net income for the year reported in the Statement of Financial Activities is a net increase in funds of £5,886 (2023: £15,914). The table below show a breakdown of this overall movement to provide a clearer view of the “ordinary” income and expenditure of the church.

Description 2024 2023
£ £
Cash Flow from Operating Activities
General Fund: Voluntary Income - Donations & Gift Aid (note 6.1) 56,289
48,084
General Fund: Expenditure on Charitable Activities (note 7.1) 51,365
49,391
General Fund: Expenditure on Support Costs (note 7.2) 4,878
5,797
Tithe Commitment: Transferred from General to tithe funds (note 11) 4,808
3,744
Total Expenditure and Commitments 61,051
58, 932
Net Ordinary Income/Expenditure(ie. excluding grants and other income) - 4,762
- 10,848
SDF Seed funding (note 6.2) -
7,087
SDF expenses claimed (note 6.2) 5,015
7,999
Total SDF contributions 5,015
15,086
Net outcome after SDF Grant Funding 253
4,238
One-off sales of equipment (note 6.2) -
1,120
Emmanual church refund (and other) - Flourish weekend for 2024 923
-
General (Unrestricted) Net outcome after other income 1,176
5,358
Adjustments to accounting for our tithe commitments:
Reverse accruals from the 2022 accounts so tithe monies can be
held in a separate fund		 -
8,811
Tithe commitments: Received in the tithe funds 4,808
3,744
Tithe funds spent -
-2,135
Net movement in Tithe Funds (note 11) 4,808
10,420
Net outcome after Tithe Funds Movements 5,984
15,778
Net movement on Restricted Funds (note 8) -98
136
Overall net outcome reported in the Statement of Financial Activities 5,886
15,914

Voluntary income for 2024 was £56,289 (2023: £48,084). This is a 17% increase form 2023. Thank you to our many generous givers.

Expenditure on charitable activities was £51,365 (2023: £49,391) similar cost per month with an increase in Community, Mission & Outreach Events mainly due to Alpha, Street of lights and STB’s 5th birthday celebrations. Support costs (office, systems and admin) were £5,878 (2023: £5,797) similar in cost per month.

Therefore, we had a deficit of £4,762 (2023: £10,848) on ordinary income and expenditure.

We benefitted from the SDF grant for expenses £5,015 (£7,999) and other income of £923 (2023: £1,120).

The general fund surplus for the year was therefore £1,176 (2023: £5,358).

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St Barnabas Grange Park Annual Report – 31 December 2024

Accounting for our Tithe commitments is changed to provide better visibility of the funds accrued and spend of those funds. The movement in funds for 2024 records our continuing commitment to accrue 10% of voluntary income for tithe projects set at £4,808 for 2024 available for distribution to various projects under the STB grand fund and our Church Plant commitments on an equal basis.

Financial Strategy

The budget for 2025 is similar to 2024, we’ve tried to be careful in our commitments with a whilst still allowing the church to function well.

STB benefited with start-up grants from the Diocesan/SDF Resourcing Church program. These were materially spent out in 2023. Some deferred income remains in the accounts to cover depreciation of grant funded assets that were capitalised. We do anticipate further contribution from SDF funds towards allowable expenses in 2025, but our allocation will be lower than previous years and then SDF funding will further phase down and end in 2026.

At present our clergy costs are covered within the Resourcing Church program but this arrangement will end in 2026.

Looking ahead STB needs to be financially sustainable with ministry and operating costs being met from church income within the minster community.

The trustees have set up a sustainability working group that will report in 2025. This group will consider mission, ministry, planting and resourcing for STB and the context of our relationships as Resourcing Church Partner with Emmanuel and The Good Shepherd and as a member of the emerging Minster Community “Area 2C”.

Reserves Policy

The general fund balance of £8,287 carried forward from this year will be held as reserves to ensure adequate cash flow and cover any deficit in the next financial year.

Consideration of Major Risks

The trustees note the following risks:

Safeguarding: The consequences of a safeguarding issue would be very serious. As a church we prioritise our safeguarding responsibilities and have established a good culture around safeguarding led by one of our volunteer leaders.

Finance: The potential for volatility or decline in our income from donations and our lack of reserves are a risk in the event of unexpected costs or change in income. This is managed by regular financial reporting to trustees and periodic updates to church member and at least annual appeals to review giving. To date members have responded positively to calls to give regularly and in response to specific giving appeals such as generosity Sunday pledges. The likelihood of unexpected costs is low. STB hires for the community centre building where we host our gatherings so is not liable for building risks.

Gathering venue: As noted above STB hires the local community centre as a Sunday gathering venue. We have good relationships with the community centre management. However, in the event the community centre was not available or the costs increased significantly we could approach local schools for an alternative venue.

Volunteers: We are dependent on the generosity of volunteers to ensure the smooth running of the church and to sustain and develop activities. We continually seek to encourage engagement of existing and new church members to serve as part of their discipleship and contribute to the life of the church.

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St Barnabas Grange Park Annual Report – 31 December 2024

2. Independent Examiners Report

We report to the trustees on the examination of the accounts of St Barnabas Grange Park ('the charity') for the year ended 31 December 2024 which are set out on pages 1 to 17.

This report is made solely to the trustees, as a body, in accordance with the regulations made under Section 154 of the Charities Act 2011. Our work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an Independent Examiner's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity's trustees, as a body, for our work, for this report, or for the opinions we have formed.

Respective responsibilities of the trustees and the 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 year (under section 144(2) of the Charities Act 2011 (the Act)) and that an independent examination is needed. We are qualified to undertake the examination by being a member of the Institute of Chartered Accountants in England and Wales. It is our responsibility to:

Basis of Independent Examiner's statement:

Our examination was carried out in accordance with the General Directions given by the Charity Commission. 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 seeks 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 fait' view and the report is limited to those matters set out in the statement.

Independent Examiner's statement:

We have completed our examination. We confirm that no material matters have come to our attention in connection with the examination giving us cause to believe that in any material accounting records were not kept in respect of the charity as required by section 130 of the Act; or the accounts do not accord with those records.

We have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report to enable a proper understanding of the accounts to be reached.

Independent Examiner’s Details:

Jordan Dennis TC Group 31 High View Close Leicester LE4 9LJ Date:

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St Barnabas Grange Park Annual Report – 31 December 2024

3. Statement of Financial Activities

Statement of Financial Activities 2024 2023



















69 002
Note
Unrestricted		 Restricted Total Prior Year
£ £ £ £
Donations & Legacies 6.1 56,289
995
57,285
50,494
Charitable Activities 923
193
1,116
-
Other 6.2 7,037
-
7,037
18,508
Total incoming resources 64,249
1,188
65,437
69,00
Charitable Activities 7.1 53,387
1,286
54,673
47,291
Support 7.2 6,634
-
6,634
5,797
Total resources used 60,021
1,286
61,307
53,088
Net Incoming / Outgoing Resources(before transfers) 4,228
-98
4,130
15,914
Fund Transfers In 4,808
-
4,808
3,744
Fund Transfers Out 4,808
-
4,808
3,744
Net Incoming / Outgoing Resources (before gains/losses) 4,228
-98
4,130
15,914
Net Movement of Funds 4,228
-98
4,130
15,914
Total Funds Brought Forward 17,531
1,113
18,644
2,730
Total Funds Carried Forward 21,759
1,015
22,774
18,644
General (Unrestricted) 6,531
0
6,531
7,111
Restricted Funds (Restricted) -
1,015
1,015
1,113
Fixed Assets (Designated) -
-
-
-
Church Planting Fund (Designated) 8,682
-
8,682
6,278
General Tithe (Designated) 6,546
-
6,546
4,142
Totals 21,759
1,015
22,774
18,644

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St Barnabas Grange Park Annual Report – 31 December 2024

4. Balance Sheet

Balance Sheet 2024 2024 2023 2023
Unrestricted Restricted Total Prior Year
£ £ £ £
Current Assets
Cash 20,599
1,015
21,614
16,792
Accounts Receivable 3,165
-
3,165
2,352
Prepayments -
-
-
647
Total 23,764
1,015
24,779
19,791
Non-current Assets
Fixed Assets 1,534
-
1,534
3,556
Total 1534
-
1,534
3,556
Current Liabilities
Accounts Payable 2,005
-
2,005
1,147
Deferred Income 1,534
-
1,534
3,556
Total 3,539
-
3,539		 4,703
Net Current Assets 20,225
1,015
21,240
15,088
Total Net Assets 21,759
1,015
22,774
18,644
General(Unrestricted) 6,531
-
6,531
7,111
Restricted Funds(Restricted) -
1,015
1,015
1,113
Fixed Assets(Designated) -
-
-
-
Church Planting Fund(Designated) 8,682
-
8,682
6,278
General Tithe(Designated) 6,546
-
6,546
4,142
Totals 21,759
1,015
22,774
18,644

Approved by the Trustees on: 11 March 2025

and signed on their behalf by:

Rev Ben Gardner

STB Church Leader

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St Barnabas Grange Park Annual Report – 31 December 2024

5. Accounting policies

Basis of accounting

The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 together with applicable accounting standards and the Charities SORP.

Funds

The financial statements include all funds and transactions for which STB is responsible.

The General Fund is not subject to any restrictions regarding its use and is available for the general purposes of STB.

Designated funds are unrestricted funds which have been set aside by the trustees for specific purposes as shown in these financial statements. Designated funds remain part of the unrestricted funds. The trustees may choose to un-designate or re-designate these funds as needs require.

There are three designated funds:

Incoming resources

Voluntary income and capital sources:

Collections are recognised when received by or on behalf of the church.

Regular giving and other donations are recognised only when credited to an STB account. Income tax recoverable on Gift Aid donations is recognised when the income is recognised. Grants and legacies are recognised when received.

Funds raised by fundraising and social events are accounted for gross.

Other income

Income relating to invoices raised by STB is recognised when the invoice is due. Interest from deposits is accounted for when received.

Resources used

Current assets

Amounts owing to STB Grange Park at 31 December in respect of fees, rents or other income are shown as debtors less provision for amounts that may prove uncollectable.

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St Barnabas Grange Park Annual Report – 31 December 2024

Tangible Fixed Assets

St Barnabas Grange Park has no consecrated property or associated church furnishings.

Trustees have agreed a policy that items purchased for less than £5,000 will be treated as revenue expense in-year and not added to the asset register. Any equipment or other assets purchased for more that £5,000 will be added to the asset register and depreciated over a life appropriate to the usable life of the item. The items presently on the asset register with purchase cost less than £5,000 were acquired prior to implementing this policy.

Tithe

The trustees have agreed a tithe policy such that 10% of voluntary income will be given away. Trustees will decide the tithe recipients or approve recommendations delegated to other leaders. The tithe amount for any one year will be set based on the voluntary income and associated gift aid of the previous year. This does not apply to special collections and restricted donations unless otherwise agreed.

Note on Rounding

All values reported have been rounded to the nearest pound. All tables are internally consistent and totals sum appropriately. There may be rounding differences when looking across tables particularly where values are aggregated to different levels. For example, the SOFA repots category groups (a combination of categories) and the more detail income and expenditure reports show individual categories.

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St Barnabas Grange Park Annual Report – 31 December 2024

6. Income Unrestricted Funds

6.1 Donations & Legacies

2024 2023
Donations and Legacies £ £
Donations Description
Regular Donations 46,144 37,339
One Off Gifts 1,275 2,609
Donations Total 47,419 39,948
Gift Aid
Gift Aid 8,870 8,136
Grand Total 56,289 48,084

6.2 Other Income

h I Dii 2024 2023
Oter ncome escrpton £ £
Grant Income
Grant Income - SDF seed funding - 7,087
Grant Income - SDF Expenses 5,015 7,999
Grant Income - Fixed Assets 2,022 2,302
Grant Income Total 7,037 17388
Grant Income
Other 923 1,120
Other Income Total 923 1,120
Grand Total 7,960 18,508

Prior to registration STB received the grant income to help the church get established:

• Diocesan Resourcing Churches Grant from the Strategic Development Fund (SDF): £50,000

Grant Income - SDF seed funding is the residual SDF and Reside elements of the original grants. This has been held as deferred income and released to the accounts to offset expenditure. The remainder of this allocation was used up in 2023.

Grant Income - Fixed Assets is from the proportion of grants set aside for depreciation of fixed assets. Refer to note 10.

Grant Income - SDF Expenses is ongoing SDF grant funding payable against allowable expenses.

Other Income - Refund from Emmanual for expenses incurred regarding Flourish weekend for 2024 and other.

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St Barnabas Grange Park Annual Report – 31 December 2024

7. Expenditure Unrestricted Funds

7.1 Charitable Activities

Comprising spending from both the General Fund and Discretionary Funds.

Account Description 2024 2023
£ £
General 51,365 49,391
Discretionary Funds 2,022
(4,374)
Grand Total 53,387 45,017

Charitable Activities - General Fund

Account Description 2024 2023
£ £
Staffing 30,235 28,294
Employment Costs (wages, NI, pension) 27,263 24,785
Team Expenses 1,514 1,732
Training & Leadership Development 1,458 1,777
Discipleship 6,046 5,044
Generous Church 88 183
Kids'Ministry 505 857
Midweek Groups-Leaders'Meetings/Training 218 209
Ad-hoc Meetups & Hospitality 629 972
Community, Mission & Outreach Events 4,129 1,859
Socials & Welcome Events 463 964
Youth Ministry 14 -
Gatherings and Worship Costs 10,284 12,436
Hospitalityat Services 833 590
CCLI& Other WorshipLicences 706 578
WorshipEquipment- Repairs/Consumables 314 3368
SpecialServices Costs 415 305
Venue Hire 7,199 7,595
WorshipEquipment- New 817 -
Giving to Others 200 17
DiscretionaryFund 200 17
STB Tithe Giving 0 0
**Parish Contribution ** 4,600 3,600
Parish Contribution 4,600 3,600
Grand Total 51,365 49,391

From 2023, tithe commitments are transferred to the two designated tithe funds (Church Planting Fund and General Tithe). The negative expenditure in the 2023 funds occurred from reversing the earlier accruals for expected tithe commitments.

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St Barnabas Grange Park Annual Report – 31 December 2024

Charitable Activities - Discretionary Funds

Description Opening
Balance
2023		 Income Expenditure Fund
Transfer		 Closing
Balance
2024
£ £ £ £ £
Fixed Assets Expenditure
Depreciation - 2,022 -2,022 - -
Total Fixed Assets Expenditure - 2,022 -2,022 - -
Church Plant Expenditure
2024 Tithe contribution transfer 6,278 - - 2,404 8,682
Total Church Plant Expenditure 6,278 - - 2,404 8,682
Tithe Expenditure
2024 Tithe contribution transfer 4,142 - - 2,404 6,546
Total Tithe Expenditure 4,142 - - 2,404 6,546
Discretionary Funds Total 10,420 2,022 -2,022 4,808 15,228

From 2023, tithe commitments are transferred to the two designated tithe funds (Church Planting Fund and General Tithe). The only movement in the discretionary funds for 2024 was the fund transfer.

Note the fixed asset designated fund holds deferred grant income for the future depreciation costs. The income above is therefore noted as grant income to match the depreciation, and the opening and closing asset values are matched by deferred income so report as net-zero. See also notes relating to Fixed Assets fund on note 10.

7.2 Support Costs

Offi d Adiitti Ct 2024 2023
ce an mnsraon oss £ £
Insurance 595 467
Marketing, Design & Print 829 466
Bank Charges and Payment Processor Fees 330 621
Payroll & Independent Exam Fees 1,140 1,080
Phone & Internet Costs 264 266
Software and System License costs 1,286 1,552
Office Equipment, Gazebo and Consumables 2,190 1,345
Office and Administration Costs Total 6,634 5,797

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St Barnabas Grange Park Annual Report – 31 December 2024

8. Restricted Funds and Special Collections

Description Opening
Balance
2023		 Income Expenditure Closing
Balance
2024
£ £ £ £
Give to Give Away
Christian Aid - 240 -240 -
Eryes Monsell Community Church - 250 -250 -
Traditional GTGA - 110 -110 -
Rainbows Christmas Charity Collection - 360 360
Give to Give Away Total - 960 -600 360
Special Collections
Collections: Exaireo Christmas 2023 158 - -158 -
New Wine Travel Costs - 193 -228 -35
Special Collections Total 158 193 -386 -35
Restricted Donations
Bibles to Give Away 485 - -50 435
New Wine Conferences 470 35 -250 255
Restricted Donations Total 955 35 -300 690
Restricted Funds Total 1113 1188 -1286 1015

9. Staff Costs

The church employed the services of an Operations Manager during the year. The employment costs are summarised in the table on page 13.

10. Fixed Assets

Fixed Asset Register 2024 2023
Name Purchase
Date		 Purchase
Value		 Depreciation
Plan		 Opening
Value		 Depreciation Closing
Value		 Prior
Year
£ £ £ £ £ £ £
Music Equipment for STB 13-09-2019 4,802 5 years
680		 680 - 680
Roland Drum Sample Pad &
Peda		 01-02-2021 814 5 years
339		 163 176 339
Streaming Equipment 31-05-2021 4,727 5 years
2,206		 945 1,261 2,206
IPad Pro 30-05-2021 869 5 years
246		 174 72 246
Magic Keyboard - for IPad
Pro		 01-06-2021 299 5 years
85		 60 25 85
Total 3,556 2,022 1,534
3,556

Note, trustees have agreed a policy that items purchased for less than £5,000 will be treated as revenue expense in-year and not added to the asset register. The items presently on the asset register with purchase cost less than £5,000 were acquired prior to implementing this policy. See also notes relating to Fixed Assets on page 12. During the year two Gazebo’s were purchased for £1,756.14 disclosed under office equipment and treated as a revenue expense in the year.

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St Barnabas Grange Park Annual Report – 31 December 2024

11. Fund Movement Summary

Fund Name Opening
Balance		 Income Expenditur
e		 Fund
Transfers		 Closing
Balance
£ £ £ £ £
General(Unrestricted) 7, 111
62, 227
57, 999
-4, 808
6, 531
Restricted Funds(Restricted) 1, 113
1, 188
1, 286
-		 1, 015
Fixed Assets(Designated) - 2,, 022
2, 022
-		 -
Church Planting Fund(Designated) 6 ,278
-		 - 2, 404
8, 682
General Tithe(Designated) 4, 142
-		 - 2, 404
6, 546
Total 18 ,644 **65, 437 ** **61, 307 ** -
22 774

Note the fixed asset designated fund holds deferred grant income for the future depreciation costs. The income above is therefore noted as grant income to match the depreciation, and the opening and closing asset values are matched by deferred income so report as net-zero. See also notes relating to Fixed Assets fund on note 10.

The general tithe commitments are transferred to the two designated tithe funds (Church Planting Fund and General Tithe).

12. Debtors and Creditors

Debtors

Description 2024 2023
£ £
Accounts Receivable (money we are owed) 3,165 2,352
Prepayments - 647
Total 3,165 2,999

Accounts Receivable comprise:

Creditors

Description 2024 2023
£ £
Accounts payable (money we owe) 2,005
1,147
Deferred Income 1,534
3,556
Total 3,539
4,703

Accounts Payable mainly include:

Deferred Income is grant income received and not yet drawn down. At the end of 2024, the remaining grant income is reserved to cover future deprecation amounts on fixed assets.

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St Barnabas Grange Park Annual Report – 31 December 2024

13. Cash Account Balances

Account Name 2024 2023
£ £
STB Lloyds Current Account 20,518
16,686
Stripe 1,097
106
Total 21,615
16,792

Stripe is the payment processor used to for card and online donations. Ordinarily the donations are received and transferred into the STB Lloyds bank account each month so the month end balance will normally be zero. The Stripe payments occur on the 1st working day of the following month. The Stripe payment for December 2024 was paid on 2 January 2025.

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