2024-12-31-accounts - Church On The Way

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		Page
Report of the Trustees	I		3
Independent Examiner's Report		4
Statement ofFinancial Activities		5
Balance Sheet	6		7
Notes to the Financial Statements	8	to	13
Detailed Statement ofFinancial Activities	14	to	15

				31.12.24	31.12.23
		Unrestricted	Restricted	Total	Total
		fund	fund	funds	funds
	Notes
FIXED ASSETS
Tangible assets	7				1,413,873
CURRENT ASSETS
Stocks	8	900		900	900
Debtors	9	800		800	1,000
Cash at bank		78,459	8,709	87,168	39,854
		80,159	8,709	88,868	41,754
CREDITORS
Amounts falling due within one year	10	(27,893)		(27,893)	(27,103)
NET CURRENT ASSETS		52,266	8,709	60,975	14,651
TOTAL ASSETS LESS CURRENT
LIABILITIES			8,709
CREDITORS
Amounts falling due after more than one year	11	(488,410)		(488,410)	(509,060)
NET ASSETS		973,874	8,709	982,583	919,464
FUNDS	13
Unrestricted funds				973,874	918,315
Restricted funds				8,709	1,149
TOTAL FUNDS				982,583	919,464

2.	OTHER TRADING ACTIVITIES
			31.12.24	31.12.23
	Bookshop income		7,022	7,746
3.	NET INCOME/(EXPENDITURE)
	Net income/(expenditure) is stated after charging/(crediting):
			31.12.24	31.12.23
	Depreciation - owned assets		3,855	3,855
4.	TRUSTEES' REMUNERATION AND BENEFITS
	There were no trustees' remuneration or other benefits for the year ended 31 December 2023.
	Trustees' expenses
	There were no trustees' expenses paid for the year ended 31 December 2023.
5.	STAFF COSTS
	The average monthly number ofemployees during the year was as follows:
			31.12.24	31.12.23
	Pastor		1
	No employees received emoluments in excess ofE60,000.
6.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
		Unrestricted	Restricted	Total
		fund	fund	funds
	INCOME AND ENDOWMENTS FROM
	Donations and legacies	99,615	15,586	115,201
	Othertrading activities	7,746		7,746
	Other income	12,712		12,712
	Total	120,073	15,586	135,659
	EXPENDITURE ON
	Raising funds	4,798		4,798
	Charitable activities
	Donations	12,692	15,607	28,299
	Premises costs	28,641		28,641
	Other costs			3 ,484
	Staffcosts	32,712		32,712
	Administration costs	2,417		2,417
	Finance costs	20,966		20,966
	Other	3,855		3,855

6.	COMPARATIVES FOR THE STATEMENT	COMPARATIVES FOR THE STATEMENT	OF FINANCIAL	ACTIVITIES	- continued
				Unrestricted	Restricted	Total
				fund	fund	funds
	Total			109,565	15,607	125,172
	NET INCOME/(EXPENDITURE)			10,508	(21)	10,487
	RECONCILIATION OF FUNDS
	Total funds brought forward			907,807	1,170	908,977
	TOTAL FUNDS CARRIED	FORWARD		918,315	1,149	919,464
7.	TANGIBLE FIXED ASSETS
			Freehold	Plant and	Office
			property	machinery	equipment	Totals
	COST
	At I January 2024 and 31 December 2024			32,550	3,003
	DEPRECIATION
	At I January 2024			20,910	770	21,680
	Charge for year			3,255	600	3,855
	At 31 December2024			24,165	1,370	25,535
	NET BOOK VALUE
	At 31 December2024			8,385	1,633
	At 31 December2023			11,640	2,233

9.	DEBTORS:AMOUNTS FALLING DUE WITHIN ONE	YEAR
			31.12.24	31.12.23
	Prepayments		800	1,000
10.	CREDITORS: AMOUNTS FALLING DUE WITHINONE YEAR
			31.12.24	31.12.23
	Bank loans and overdrafts (see note 12)		20,045	20,045
	Social security and other taxes		1,359	1,430
	Other creditors		235
	Accruals and deferred income		6,254	5,487
			27,893	27,103
11.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE		YEAR
			31.12.24	31.12.23
	Bank loans (see note 12)		488,410	509,060
12.	LOANS
	An analysis ofthe maturity ofloans is given below:
			31.12.24	31.12.23
	Amounts falling due within one year on demand:
	Bank loans		20,045	20,045
	Amounts fallingbetween one and two years:
	Bank loans - 1-2 years		20,045	20,045
	Amounts falling due betweentwo and five years:
	Bank loans - 2-5 years		60,132	60,132
	Amounts falling due in more than five years:
	Repayable by instalments:
	Bank loans more 5 yr by instal		408,233	428,883
13.	MOVEMENT IN FUNDS
			Net
			movement
			in funds	31.12.24
	Unrestricted funds
	General fund	918,315	55,559	973,874
	Restricted funds
	General Restricted	1,149	7,560	8,709
	TOTAL FUNDS	919,464	63,1 19	982,583

	Incoming	Resources	Movement	Movement
	resources	expended	in	funds
Unrestricted funds
General fund	175,150	(119,591)	55,559
Restrictedfunds
General Restricted	15,637	(8,077)		7,560
TOTAL FUNDS	190,787	(127,668)	63,119
Comparatives for movement in funds
		Net
		movement
	At 1.1.23	in funds	31.12.23
Unrestricted funds
General fund	907,807	10,508	918,315
Restricted funds
General Restricted	1,170	(21)		1,149
TOTAL FUNDS	908,977	10,487	919,464
Comparative net movement in funds, included in the above are as follows:
	Incom ing	Resources	Movement
	resources	expended	in	funds
Unrestricted funds
General fund	120,073	(109,565)		10,508
Restricted funds
General Restricted	15,586	(15,607)		(21)
TOTAL FUNDS	135,659	(125,172)		10,487

A current year 12 months and prior year 12	monthscombined position is as follo	ws:
		Net
		movement
	At 1.1.23	in funds	31.12.24
Unrestricted funds
General fund	907,807	66,067	973,874
Restricted funds
General Restricted	1,170	7,539	8,709
TOTAL FUNDS	908,977	73,606	982,583

Detailed Statement of Financial Activities for the Year Ended 31 December2024
	31.12.24	31.12.23
Support costs
Finance
Bank loan interest	20,184	20,966
Other
Plant and machinery	3,855	3,855
Totalresources expended	127,668	125,172
Net income	63,1 19	10,487