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2024-03-31-accounts

Charity registration number: 1199612

Middlewich Community Church

Annual Report and Financial Statements for the Year Ended 31 March 2024

KM Chartered Accountants 1st Floor, Block C The Wharf Manchester Road Burnley Lancashire BB11 1JG

Middlewich Community Church

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 6
Statement of Trustees' Responsibilities 7
Independent Auditors' Report 8 to 10
Statement of Financial Activities 11
Balance Sheet 12
Cash Flow Statement 13
Notes to the Financial Statements 14 to 23

Middlewich Community Church

Reference and Administrative Details

Trustees Reverend Antony Bhunu, Senior Pastor Christopher Sellers Faith Davies Lee Berridge Charity Registration Number 1199612 Principal Office 34-36 Brooks Lane Middlewich Cheshire CW10 0JG Auditor KM Chartered Accountants 1st Floor, Block C The Wharf Manchester Road Burnley Lancashire BB11 1JG Solicitors Geldards 1 Pride Place Pride Park Derby DE24 8QR Bankers NatWest Bank Plc The Bull Ring Northwich Cheshire CW9 5BN Kingdom Bank Nottingham Ruddington Fields Business Park Mere Way, Ruddington Nottingham NG11 6JS

Page 1

Middlewich Community Church

Trustees' Report

The trustees present the annual report together with the financial statements of the charity for the year ended 31 March 2024.

During the financial year Middlewich Pentecostal Church (Charity number 1051786) transferred its assets to Middlewich Community Church (Charity number 1199812), continuing the activities of the former charity. The financial statements have been prepared as though Middlewich Community Church had undertaken these activities in both accounting periods.

Trustees

Reverend Antony Bhunu, Senior Pastor

Christopher Sellers Sally Chilakalaka (resigned 7th May 2024)

Faith Davies

Lee Berridge (appointed 1st December 2023)

Objectives and activities

Objects

The objects of the Church as set out in its constitution are for the benefit of the public:

a) to advance the Christian faith in accordance with the statement in such ways and in such parts of the United Kingdom or the world as the Church Council from time to time may think fit;

b) to relieve sickness and financial hardship and to promote and preserve good health by the provision of funds, goods or services of any kind including through the provision of counselling and support in such parts of the United Kingdom or the world as the Church Council from time to time think fit;

and c) to advance education in such ways and in such parts of the United Kingdom or the world as the Church Council from time to time may think fit.

Activities

Page 2

Middlewich Community Church

Trustees' Report (continued)

Events:

Other Ministries:

Missions:

Public benefit

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Page 3

Middlewich Community Church

Trustees' Report (continued)

Review of charitable activities in the financial year

Middlewich Community Church continues to serve the community in diverse ways, drawing its committed and enthusiastic congregation both from its hometown and the adjacent communities of Winsford, Holmes Chapel, Sandbach, Northwich, Knutsford, Nantwich, Crewe, surrounding villages and hamlets.

The trustees wish to put on record their appreciation to the congregation, who have remained faithful throughout another year.

Churches such as MCC depends on the commitment of both its staff and members to ensure that its programme is carried out. In particular the work of volunteers, i.e. partners who call MCC their spiritual home, is greatly appreciated. The cornerstones of the regular church programme are the Sunday service, midweek life groups, and the children's & youth ministries to both church families & the wider community. MCC is blessed to have a salaried youth and children's pastor, ensuring that the church's programme on Sundays & midweek continues to be delivered to a high standard.

The church successfully operates two areas of activity in addition to its regular church services. Canalside conferencing continues to be a prime facility for day conferencing within the local community. We continue to deliver a higher level of service to our clients which amongst others include local authorities, Police, NHS and businesses, but unfortunately this year the booking has experienced a dip which has resulted in a low income.

MoCoCo House, a semi-independent housing was birthed out of a desire to provide safe accommodation for vulnerable young people. It has proven essential over time in addressing the needs of both mainly, local vulnerable youth primarily from Cheshire and unaccompanied young asylum seekers. We continue to remain at full capacity since the service continues to be well sought after mainly due to our highly regarded personnel within the care community, and we are glad to be able to address these demands at this time. As in previous years, we continue to improve our service delivery, always striving to make positive changes to the young people’s lived experience of MoCoCo House. This year, we have been undergoing Ofsted registration, as such we have been working to ensure all required documents and processes are in place in order to meet their requirements. We are hopeful that the registration process will be completed in this 2024 – 25 financial year.

MCC continues to support projects and personnel locally as well as working in different parts of the world. The church allocated monthly financial support to assist the local Foodbank and Crewe’s the Lighthouse Centre who look after the homeless. Internationally, we have continued with supporting mission work in Eastern Europe and Africa. In Malawi, for example, we support 2 rural churches that we planted in partnership with a local church.

In March 2023, MCC and Alsager Community Church (ACC) planted a new church in the town of Sandbach. The church, Sandbach Community Church (SCC) is led by the leadership team of both MCC and ACC. It is our collective aim to build up a leadership team which will eventually take over the running of the church and be independent from both churches.

Finally, MCC continues to be a key member of Churches Together in Middlewich, being involved with various initiatives throughout the year.

The trustees consider the church to be in a strong position right now, ready to carry on serving the local community and everyone who considers Middlewich Community Church to be their spiritual home.

Page 4

Middlewich Community Church

Trustees' Report (continued)

Financial review

The financial statements show a deficit of £4,677 (after depreciation of £11,569) compared with a surplus the previous year of £12,463.

During the year the additional payments off the church mortgage were made (this after the transfer of mortgage to the CIO) which had an effect on cash flow.

Overall the trustees are pleased with the progress made this year in both finances and financial information.

Policy on reserves

Whilst the Bible clearly indicates that we should not hoard, it is also clear that there should be sensible planning for an unforseen event. As such there is a need for the church to retain reasonable reserves to ensure the church can cope with financial challenges. The trustees calculate that reserves of £100,000 should be retained. At the year end the free reserves, ie those not designated are £203,669 which is in excess of the agreed amount. The excess is to be used for the continued development of the charity.

Principal funding sources

The income of the church is derived from three primary sources:

Giving by members and adherants of the church

Canalside conferences

Mococo House - supported living payments received from the surrounding local authorities.

Investments

Freehold land at a valuation of £2.5m plus legal fees was donated to the charity in 2013. The trustees believe the land is valued in excess of this value but no formal valuation has been obtained as this is subject to a number of factors such as potential use, planning permission etc.

Surplus cash funds are held in deposit accounts with Kingdom Bank.

Structure, governance and management

Governing document

The charity is governed by its constitution dated 11th July 2022. The charity is a Foundation Charitable Incorporated Organisation (number 1199612).

In due course the former charity, Middlewich Pentecostal Church, will be deregistered.

Trustee remuneration

Details of trustee remineration and its basis is set out in note 9 to the financial statements.

Organisational structure

The charity is governed by the Church Council, comprising the Senior Minister and other members as shall be appointed or elected. The church members meet as required.

Page 5

Middlewich Community Church

Trustees' Report (continued)

Major risks and management of those risks

The charity reviews risks it faces regularly. It has full policies for safeguarding children and young people and vulnerable adults, with relevant persons undergoing regular training and DBS checks.

Disclosure of information to auditor

Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

The annual report was approved by the trustees of the charity on 15 October 2024 and signed on its behalf by:

......................................... Reverend Antony Bhunu Trustee

Page 6

Middlewich Community Church

Statement of Trustees' Responsibilities

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

The law applicable to charities 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 the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The 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.

Page 7

Middlewich Community Church

Independent Auditor's Report to the Members of Middlewich Community Church

Opinion

We have audited the financial statements of Middlewich Community Church (the 'charity') for the year ended 31 March 2024, which comprise the Statement of Financial Activities, Balance Sheet, Cash Flow Statement, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Page 8

Middlewich Community Church

Independent Auditor's Report to the Members of Middlewich Community Church (continued)

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters where the Charities (Accounts and Report) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities (set out on page 7), the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor Responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

Page 9

Middlewich Community Church

Independent Auditor's Report to the Members of Middlewich Community Church (continued)

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of noncompliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity trustees, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the trustees those matters we are required to state to trustees in an auditors' 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 and its trustees as a body, for our audit work, for this report, or for the opinions we have formed.

...................................... KM, Statutory Auditor

1st Floor, Block C The Wharf Manchester Road Burnley Lancashire BB11 1JG

15 October 2024

Page 10

Middlewich Community Church

Statement of Financial Activities for the Year Ended 31 March 2024

Note
Income from:
Donations and legacies
2
Charitable activities
3
Other trading activities
4
Investment income
5
Other income
Total income
Expenditure on:
Charitable activities
6
Total expenditure
Net (expenditure)/income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
19		 Unrestricted
funds
£
74,843
513,867
61,361
1,230
1,639
652,940
(657,617)
(657,617)
(4,677)
(4,677)
3,098,705
3,094,028		 Total
2024
£
74,843
513,867
61,361
1,230
1,639
652,940
(657,617)
(657,617)
(4,677)
(4,677)
3,098,705
3,094,028		 Unrestricted
funds
£
65,287
431,997
55,528
162
22,013
574,987
(562,524)
(562,524)
12,463
12,463
3,086,242
3,098,705		 Total
2023
£
65,287
431,997
55,528
162
22,013
574,987
(562,524)
(562,524)
12,463
12,463
3,086,242
3,098,705

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 19.

The notes on pages 14 to 23 form an integral part of these financial statements. Page 11

Middlewich Community Church

(Registration number: 1199612) Balance Sheet as at 31 March 2024

Note
Fixed assets
Tangible assets
13
Investments
14
Current assets
Debtors
15
Cash at bank and in hand
Creditors: Amounts falling due within one year
16
Net current assets
Total assets less current liabilities
Creditors: Amounts falling due after more than one year
17
Net assets
Funds of the charity:
Unrestricted income funds
Unrestricted funds
Total funds
19		 2024
£
848,568
2,518,516
3,367,084
54,416
137,501
191,917
(41,606)
150,311
3,517,395
(423,367)
3,094,028
3,094,028
3,094,028		 2023
£
859,105
2,518,516
3,377,621
83,315
129,791
213,106
(22,098)
191,008
3,568,629
(469,924)
3,098,705
3,098,705
3,098,705

The financial statements on pages 11 to 23 were approved by the trustees, and authorised for issue on 15 October 2024 and signed on their behalf by:

......................................... Reverend Antony Bhunu Trustee

The notes on pages 14 to 23 form an integral part of these financial statements. Page 12

Middlewich Community Church

Cash Flow Statement for the Year Ended 31 March 2024

Note
Cash flows from operating activities
Net cash (expenditure)/income
Adjustments to cash flows from non-cash items
Depreciation
Investment income
5
Working capital adjustments
Decrease/(increase) in debtors
15
Increase in creditors
16
Net cash flows from operating activities
Cash flows from investing activities
Interest receivable and similar income
5
Purchase of tangible fixed assets
13
Net cash flows from investing activities
Cash flows from financing activities
Repayment of loans and borrowings
16
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at 1 April
Cash and cash equivalents at 31 March		 2024
£
(4,677)
11,569
(1,230)
5,662
28,899
2,169
36,730
1,230
(1,032)
198
(29,218)
7,710
129,791
137,501		 2023
£
12,463
12,984
(162)
25,285
(26,292)
4,906
3,899
162
(1,189)
(1,027)
(10,899)
(8,027)
137,818
129,791

All of the cash flows are derived from continuing operations during the above two periods.

The notes on pages 14 to 23 form an integral part of these financial statements. Page 13

Middlewich Community Church

Notes to the Financial Statements for the Year Ended 31 March 2024

1 Accounting policies

Statement of compliance

The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Basis of preparation

Middlewich Community Church meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

Going concern

The Trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. Based on the reserves held, the operating model, an assessment of risks, and forward looking budgets, the Trustees are comfortable that the charity is adequately resourced to continue in operation for the foreseeable future. At the date of sign off, the Trustees confirm there are no material uncertainties in relation to the going concern assumption. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting estimates and areas of judgement

In preparing financial statements it is necessary to make certain judgements, estimates and assumptions that affect the amounts recognised in the financial statements. In the view of the Trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year.

Income

All income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Page 14

Middlewich Community Church

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £2000 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Depreciation method and rate
Land and buildings 2% per annum on cost
Furniture and equipment 35% per annum on cost

Investment properties

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Page 15

Middlewich Community Church

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.

Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.

Pensions and other post retirement obligations

The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2 Income from donations and legacies

Regular giving and donations Unrestricted
funds
General
£
74,843
74,843		 Total
2024
£
74,843
74,843		 Total
2023
£
65,287
65,287
Unrestricted
funds Total Total
General 2024 2023
£ £ £
MoCoCo House 513,867 513,867 431,997

Page 16

Middlewich Community Church

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

4 Income from other trading activities

Conferences
5
Investment income
Interest received		 Unrestricted
funds
General
£
61,361
Unrestricted
funds
General
£
1,230		 Total
2024
£
61,361
Total
2024
£
1,230		 Total
2023
£
55,528
Total
2023
£
162

6 Expenditure on charitable activities

Charitable activities
Depreciation, amortisation and
other similar costs
Staff costs
Bank interest payable
Governance costs		 Unrestricted funds
Designated
£
General
£
-
242,472
11,569
-
-
346,512
32,564
-
-
24,500
44,133
613,484		 Total
2024
£
242,472
11,569
346,512
32,564
24,500
657,617		 Total
2023
£
238,875
12,984
280,926
22,139
7,600
562,524

Page 17

Middlewich Community Church

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

7 Analysis of governance and support costs

Governance costs

Audit fees
Audit of the financial statements
Allocated support costs		 Unrestricted
funds
General
£
4,500
20,000
24,500		 Total
2024
£
4,500
20,000
24,500		 Total
2023
£
3,600
4,000
7,600

8 Net incoming/outgoing resources

Net (outgoing)/incoming resources for the year include:

Audit fees
Depreciation of fixed assets		 2024
£
4,500
11,569		 2023
£
3,600
12,984

9 Trustees remuneration and expenses

During the year the charity made the following transactions with trustees:

Reverend Antony Bhunu

Reverend Antony Bhunu received remuneration of £39,717 (2023: £34,627) during the year.

Rev Antony Bhunu, a Trustee, also serves as an employee of the charity, i.e. Senior Minister for the Church and CEO of our professional departments - MoCoCo House and Canalside Conference - and is remunerated in this capacity but not for acting as a charity trustee. The charity’s constitution permits this arrangement. During the year 2023-24 to his employment benefits were for the Senior Minister role - £29,787.60 (2022-23 : £25,970,25) and for the CEO/Nominated Individual for MoCoCo role - £9,929.25 (2022-23 : £8.656.75), a total of £39,717.

No trustees have received any reimbursed expenses or any other benefits from the charity during the year.

Page 18

Middlewich Community Church

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

10 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries
Social security costs
Pension costs		 2024
£
319,672
20,585
6,255
346,512		 2023
£
261,693
14,556
4,677
280,926

The monthly average number of persons employed by the charity during the year expressed as full time equivalents was as follows:

2024 2023
No No
Charitable activities 19 18

No employee received emoluments of more than £60,000 during the year

The total employee benefits of the key management personnel of the charity were £39,717 (2023 - £80,302).

11 Auditors' remuneration

Audit of the financial statements 2024
£
4,500		 2023
£
3,600

12 Taxation

The charity is a registered charity and is therefore exempt from taxation.

Page 19

Middlewich Community Church

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

13 Tangible fixed assets

13 Tangible 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
At 31 March 2023		 Land and
buildings
£
923,315
-
923,315
67,560
9,298
76,858
846,457
855,755		 Furniture and
equipment
£
89,485
1,032
90,517
86,135
2,271
88,406
2,111
3,350		 Total
£
1,012,800
1,032
1,013,832
153,695
11,569
165,264
848,568
859,105

Included within the net book value of land and buildings above is £846,457 (2023 - £855,755) in respect of freehold land and buildings and £Nil (2023 - £Nil) in respect of leaseholds.

Freehold land and buildings are:

Mococo House -acquired in 2013 and includes original purchase price and expenditure to convert the building into nine flats.

Middlewich Church building acquired in February 2022

Page 20

Middlewich Community Church

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

14 Fixed asset investments

Freehold land 2024
£
2,518,516		 2023
£
2,518,516

Freehold land

Freehold land £

Freehold land
£
Valuation
At 1 April 2023
Provision
At 31 March 2024
Net book value
At 31 March 2024		 2,518,516
-
2,518,516

Freehold land at a valuation of £2.5m plus legal fees was donated to the charity in 2013. The trustees believe the land is valued in excess of this value but no formal valuation has been obtained as this is subject to a number of factors such as potential use, planning permission etc.

15 Debtors

Trade debtors
Prepayments
Other debtors		 2024
£
23,836
2,077
28,503
54,416		 2023
£
55,117
-
28,198
83,315

16 Creditors: amounts falling due within one year

Bank loans
Other taxation and social security
Other creditors
Accruals		 2024
£
30,000
5,874
1,232
4,500
41,606		 2023
£
12,661
4,860
977
3,600
22,098

Page 21

Middlewich Community Church

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

17 Creditors: amounts falling due after one year

Bank loans 2024
£
423,367		 2023
£
469,924
Creditors amounts falling due after more than one year includes the following liabilities, on which security has Creditors amounts falling due after more than one year includes the following liabilities, on which security has Creditors amounts falling due after more than one year includes the following liabilities, on which security has
been given by the charity:
2024 2023
£ £
Mortgage Kingdom Bank 423,367 469,924

The mortgage is secured on the church building and is for a period of 25 years from February 2022 at a rate of 3.45%.

18 Pension and other schemes

Defined contribution pension scheme

The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £6,255 (2023 - £4,677).

19 Funds

Unrestricted funds
General
Designated
Total funds
Unrestricted funds
General
Designated
Total funds		 Balance at 1
April 2023
£
203,669
2,895,036
3,098,705
Balance at 1
April 2022
£
190,310
2,895,932
3,086,242		 Incoming
resources
£
652,940
-
652,940
Incoming
resources
£
574,987
-
574,987		 Resources
expended
£
(613,484)
(44,133)
(657,617)
Resources
expended
£
(527,401)
(35,123)
(562,524)		 Transfers
£
(62,814)
62,814
-
Transfers
£
(34,227)
34,227
-		 Balance at
31 March
2024
£
180,311
2,913,717
3,094,028
Balance at
31 March
2023
£
203,669
2,895,036
3,098,705

Page 22

Middlewich Community Church

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

20 Analysis of net assets between funds

20 Analysis of net assets between funds
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Creditors over 1 year
Total net assets
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Creditors over 1 year
Total net assets		 Unrestricted funds
General
£
Designated
£
-
848,568
-
2,518,516
191,917
-
(11,606)
(30,000)
-
(423,367)
180,311
2,913,717
Unrestricted funds
General
£
Designated
£
-
859,105
-
2,518,516
213,106
-
(9,437)
(12,661)
-
(469,924)
203,669
2,895,036		 Total funds at
31 March
2024
£
848,568
2,518,516
191,917
(41,606)
(423,367)
3,094,028
Total funds at
31 March
2023
£
859,105
2,518,516
213,106
(22,098)
(469,924)
3,098,705

Page 23