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2024-12-31-accounts

St Gregory’s Church Charitable incorporated organisation

Trustee Report and Unaudited Financial Statements

For the year ended 31 December 2024

Charity Number 1201125

St Gregory’s Church

Contents Page
Legal and administrative information 3
Report of the Trustees 4 - 9
Independent Examiners Report 10
Statement of Financial Activities
(including Income & Expenditure Account) 11
Balance Sheet 12
Notes to the Financial Statements 13- 18

Page 2

St Gregory’s Church

Legal and administrative information

Status:

St Gregory’s Church is a charitable incorporated organisation (CIO) registered with the Charity Commission on 23 November 2022.

The Trustees:

Richard Spens (Chair) Michael Horne Oluwadamilola Makinde Rev Jonathan Soper Peter Hodson (appointed 26 Oct 2024) Rev Anna Hyde (appointed 26 Oct 2024) Charity Number 1201125 Registered Office 22 Stret Myghtern Arthur Newquay TR8 4GJ Church Leaders (responsible Revd. Anna Hyde. for leadership of the church’s activities) Bankers The Co-operative Bank PLC PO Box 101 1 Balloon Street Manchester M60 4EP Independent Examiner & Auditors Chris Goodhead FCA Knight Goodhead Ltd 7 Bournemouth Road Chandler’s Ford Hampshire SO53 3DA

Page 3

St Gregory’s Church

Report of the Trustees for the year ended 31 December 2024

The Trustees presents their report and the financial statements for the year ended 31 December 2024

Governance, Structure and Management

Governing Document:

The CIO is governed by its constitution, a legal document set out to establish the CIOs purposes and how they will be carried out.

Structure:

The CIO operates under a ‘foundation’ model constitution and therefore its only voting members are charity trustees. The trustee will be responsible for making all key decisions in terms of policies, employment of staff, finance, legal matters and regulatory compliance. They have delegated responsibility for leadership of the church activities and its daily management to the church leader who is supported by a staff team. Members of the CIO give their time voluntarily and receives no financial benefit from the charity.

Management:

The members of the CIO (charity trustees) are drawn from the wider Christian community who bring a mix of professional skills such as church growth and management, business management, law and finance.

Risk Management:

The members conduct an annual review of the major risks to which the charity is exposed, and systems are established or revised to mitigate those risks.

Internal financial risks are managed by the implementation of financial procedures for the collection, banking and recording of all donations and the authorisation and recording of all expenditure. The company has two Safeguarding Officers and a Safeguarding Policy. The company also has a data protection policy (recently to reflect GDPR regulations).

Objectives and Activities

St Gregory’s is an Anglican church with a vision to wholeheartedly follow Jesus and serve him in Cornwall and beyond. Our desire is to develop disciples who live in and live out the story of God, following the way of Jesus with a redemptive vision to serve God locally as well as across the region in their workplace, schools and neighbourhoods.

The Object of the CIO is the advancement of the Christian faith in accordance with the rites and ceremonies of the Church of England for the public benefit in particular within (but not limited to) the Diocese of Truro in particular by, (but not limited to) establishing a new worshipping community.

Page 4

St Gregory’s Church

Public Benefit

Our activities are publicised on our website www.stgregorys.uk. The Charity benefits the general public in provision of the following:

Achievements and Performance

Presence

Our Sunday gatherings have been very special times of teaching, worship, prayer ministry, and community throughout the year. Since the launch at the end of March 2023, we have gathered at 4:30 p.m. on Sundays at Bishops School. From September 2024, we moved to two gatherings at 4:00 p.m. and 6:00 p.m. Attendance has varied between 40–160, with approximately 20 under 18s. We’ve shared sweet treats, hot drinks, and warm welcomes, sung songs of praise for all ages, and been built up by teaching series from Parables to The Creed .

Twice a term, we meet at St Columb Minor Church for an All-In Gathering, where both the 4:00 p.m. and 6:00 p.m. congregations come together.

In September 2024, we baptised four people—two young people and two adults—down at Holywell Bay Beach, with a wonderful celebration at Crantock Parish Church beforehand.

We have loved making space for extended, uninterrupted times of worship at Seek First , our monthly night of worship and intercession. We’ve been blessed to gather in different churches across Newquay, including St Michael’s, St Colan, and St Columb Minor. We believe God is doing something new and powerful among us as we worship, and we look forward to pursuing His presence together in the year ahead. Under the leadership of our Worship Pastor, the worship team comprises six people.

Formation

Following Jesus and becoming like Him is central to our vision. We encourage everyone to engage in practices that give shared shape to our lives—daily, weekly, and monthly rhythms that help us grow toward Jesus by being with Him, becoming like Him, and doing what He did.

We’ve drawn inspiration from Celtic communities who embraced a shared ‘Rule of Life’—like a trellis, a structure that helped them grow in the right direction; a set of practices and rhythms to move them toward Jesus and live as free people.

Rhythms is a tool we've begun to develop for groups of 3–4 people to meet regularly and contend for life patterns that help each other be with Jesus, become like Him, and do the things He did. These groups are designed to be safe enough to heal and challenging enough to grow—vehicles

Page 5

St Gregory’s Church

for genuine transformation. Members share stories, adopt new rhythms, and pray for one another fortnightly, or as often as suits them.

Hubs are our midweek gatherings where we form community. They’re a lot of fun and a great way to build relationships and invite others into community life. Hubs run on a termly rhythm— acknowledging that in Cornwall, there are things we can do in summer that we can’t in winter. Some— Local Hubs —meet in homes to love and serve their neighbourhoods. Others— Activity Hubs —gather around a shared interest. And Course Hubs go on a learning journey together. Hubs are a great way to connect and welcome new people.

In September 2024, we welcomed two ordinands—one from St Mellitus South-West, and another taking the pioneering route, training through CMS.

Family

We are passionate about children meeting Jesus—and having lots of fun! It’s been exciting to see more families joining in games, discussions, and activities over the last year. We’ve explored a range of topics, from discovering the character of Jesus to meeting different people in the Bible.

In October 2024, we held our Jungle-themed Light Party for children from Reception to Year 6 at Crantock Village Church. It was amazing to see kids inviting their friends. This is alongside a new regular event for this age group called Muddy Church , which launched in 2024. These gatherings feature crafts, fun activities, and plenty of tasty treats! We've met on the beach, done nature trails and scavenger hunts, and learned about God’s creation and how Jesus brings new life to all. These are beautiful spaces for families to connect and grow together.

St Gregory's Youth aims to be a community of young people who love God, love each other, and love the places we're in—and have lots of fun doing it! We run sessions for younger youth (Years 7–9) on Sundays, and for older youth (Years 9–13) on Tuesday evenings. It’s been wonderful to see the youth group grow—not only in size, but also in leadership and togetherness. We've attended Glow gatherings hosted by Creation Fest at Engine House Church in Redruth— amazing times to worship with youth from across Cornwall. Occasionally, both age groups come together for big socials!

We’ve continued engaging with Nansledan and Bishops Primary Schools, leading sports clubs and whole-school assemblies at Nansledan. We’re excited to deepen these partnerships and see them as key opportunities to serve our local community. The church leader also continues to serve as a governor at The Bishops’ Academy School in Newquay.

In September 2024, our Kids and Youth Leader launched Sandy Toes , a weekly toddler group meeting every Wednesday morning during term time at Saltd Café in Newquay. It’s been amazing to see babies and toddlers (0–4 years) having fun with their parents and carers— playing, making, and singing their favourite songs!

Page 6

St Gregory’s Church

Mission

We ran our first When Dreams Change course in the autumn. This four-week course helps parents and carers reflect on their experience of raising a child with additional needs and supports them in becoming more of who they were created to be. We were thrilled that Lex and Emma, two passionate parents from St Gregory’s, led the course.

St Gregory’s has also partnered with the Deanery to employ a CAP Debt Centre Manager. She began training in November 2024, with the centre due to launch in January 2025.

Future strategy and plans:

The future direction of St Gregory’s Church is shaped by the Bishop’s Mission Order, signed in 2023, and focused on the Pydar Deanery. A key priority for 2025 is launching the CAP Centre— establishing it as sustainable and responsive to community needs. We also aim to deepen our work with young families and strengthen school engagement.

Starting in July 2025, we’ll introduce Scatter Sundays each term—days where we’ll go out into the community to serve and love our area. And in Autumn 2025, we’ll run another Alpha course, with the hope of making it a regular part of our rhythm.

Financial Review

The income for the period amounted to £317,911 (2023: £266,474). Most of the income is from gifts from church members, supporters and associated gift aid receipts. There was a significant amount of grant funding totalling £96,490 (2023: £92,830), more about this below. Expenditure for the year totals £155,381 (2023: £159,626) resulting in a surplus for the year of £162,530 (2023: £106,848). Total funds at the year-end totalled £269,378 (2023: £106,848).

The grant funding came from three separate grants from two different Diocese funds as follows:

Fund Name Amount Restricted Purpose
Lowest Income Communities Fund
(LICF)		 £25,000 The Grant shall be used by St.Gregory’s to
fund the NewquayDebt Center
Lowest Income Communities Fund
(LICF)		 £42,890 The Grant shall be used by St Gregory’s for
the deliveryof itspart in the DeaneryPlan.
On The Way Mission Funding (MF) £28,600 The Grant shall be used by St Gregory’s for
the deliveryof itspart in the DeaneryPlan.

There are two grants from LICF which are both recognised as (restricted) income. The first of £25,000 is to be used by the Newquay Debt Centre and the second of £42,890 to be used to fund the delivery of St Gregory’s part in the Deanery Plan. This income is set off by the Diocese against unrelated restricted expenditure of £45,070 which is due to them as a contribution to the Church Leader’s costs. The LICF income reduces over 6 years to zero

Page 7

St Gregory’s Church

The MF income is paid directly to the church accounts and is used to cover the cost of the Childrens and Youth Pastor as well as some small operational expenses.

Giving policy:

The church’s policy is to give away at least 10% of unrestricted giving income to partner organisations whose purpose is in line with the church’s own charitable objectives. Giving has been in furtherance of the Christian faith and the relief of poverty and hardship.

The funds to be given away from 2024 were set aside as the Mission Giving designated fund with the intention for these to be distributed during 2025.

Investment policy:

The Charity periodically reviews its investment policy. Our investments are currently held in a CCLA Church of England Deposit fund account.

Reserves Policy:

The Charity has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets (‘the free reserves’) held by the charity should be in the range of 3 months of the resources expected to be expended; this equates to approximately £19,600 in general funds. At this level, the Trustees feel that it would be able to continue the current activities of the charity in the event of a significant drop in funding. Should this happen, it would also be necessary to consider how the funding would be replaced or activities changed. At present the unrestricted free reserves amount to £230,674 which is above the minimum of £19,600.

Page 8

Independent Examiners Report

To The Trustees On The Unaudited Accounts Of St Gregory's Church, Newquay

I report to the trustees on my examination of the accounts of St Gregory's Church for the year ended 31 December 2024.

Responsibilities and basis of report

As the trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011.

I report in respect of my examination of your charity’s accounts as carried out under section 145 of the 2011 Act. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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

27/10/2025

C J Goodhead FCA 7 Bournemouth Road Knight Goodhead Ltd Chandler’s Ford, Eastleigh Chartered Accountants Hampshire, SO53 3DA

Page 10

St Gregory's Church, Newquay Statement of Financial Activities For the year ended 31 December 2024

Note
Donations and Legacies
Grants
Church Activities
Other
Assets gifted from KXC
TOTAL INCOME
2
EXPENDITURE ON:
Charitable Activities
Governance Costs
TOTAL EXPENDITURE
3
NET MOVEMENT IN FUNDS
Balances brought forward at 1 January 2024
BALANCES CARRIED FORWARD AT 31 DECEMBER 2024		 Unrestricted
Funds
Restricted
Funds
TOTAL FUNDS
Unrestricte
d Funds
Restricted
Funds
TOTAL
FUNDS
£
£
£
£
£
£
211 230
-
211 230
75 741
-
75 741
-
96 490
96 490
-
92 830
92 830
1 209
-
1 209
-
-
-
8 983
-
8 983
236
-
236
-
-
-
97 667
-
97 667
2024
2023
221 421
96 490
317 911
173 644
92 830
266 474
74 782
77 089
151 872
66 673
90 650
157 323
3 509
-
3 509
2 303
-
2 303
78 292
77 089
155 381
68 976
90 650
159 626
143 129
19 401
162 530
104 668
2 180
106 848
104 668
2 180
106 848
-
-
-
247 797
21 581
269 378
104 668
2 180
106 848

Page 11

2024 2023
Note £ £
1448 560
1167 1939
327 607
6 2942 3106
277660 106404
7 3956 3337
281615 109741
8 hs11aJ ls991J
266437 103744
269378 106848
162530 106848
106848 0
269378 106848
12 247797 104668
10 21581 2180
269378 106848

St Gregory's Church, Newquay Notes to the Financial Statements For the year ended 31 December 2024

1 ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2015.

The Trustees meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

Funds

General funds represent the funds of the Charity that are not subject to any restrictions regarding their use and are available for application on the general purposes of the Trustees. Restricted funds are those donated for specific purposes.

Income

Voluntary income and capital sources

Donations and other income are recognised when received and, where applicable, an estimate of income tax recoverable is recognised when the related donations are recognised.

Rental Income

Rental income from the letting of church premises is recognised when the rental is due.

Grants

Grants and donations are accounted for when paid over, or when awarded.

Grants and legacies to the Charity are accounted for as soon as the Charity is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the PCC is probable.

Church Activities Income

Income from church activities is recognised when the date of the event takes place.

Page 13

St Gregory's Church, Newquay Notes to the Financial Statements For the year ended 31 December 2024

Expenditure

Church activities

The diocesan Common Fund is accounted for when paid. Any Common Fund unpaid at 31 December is provided for in these accounts as an operational (though not a legal) liability and is shown as a creditor in the Balance Sheet. Expenditure incurred in the operation of the church is classed as charitable activities.

Governance costs is classed as what is needed to keep good governance of the Trustees.

Fixed assets

Consecrated property and moveable church furnishings

Consecrated and beneficed property of any kind is excluded from the accounts by s.10 of the Charities Act 2011.

All expenditure incurred in the year on consecrated or beneficed buildings written off.

Other fixtures, fittings and office equipment

Only items of greater than £500 are capitalised.

All capitalised items will be straight line depreciated over 3 full years.

Current assets

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

Financial instrument

The charitable company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors, cash at bank and creditors. These basic financial instruments are initially measured at transaction price and are subsequently carried at amoitised cost using the effective interest method. Financial assets and liabilities classified as due within one year are not amortised.

Page 14

St Gregory's Church, Newquay Notes to the accounts For the year ended 31 December 2024

2. Income
Unrestricted Restricted
Total
Donation
£
£
£
Collections - GASDS
757
-
757
Gift Aid
41 639
-
41 639
One off gifts - Gift Aided
102 475
-
102 475
One off gifts - Not Gift Aided
487
-
487
Planned giving - Gift Aided
56 668
-
56 668
Plannedgiving- Not Gift Aided
9 204
-
9 204
Total Donation
211 230
-
211 230
Grants
Grants
-
96 490
96 490
Total Grants
-
96 490
96 490
Church Activites
Events
1 209
-
1 209
Total Grants
1 209
-
1 209
Other Income
Bank interest
8 983
-
8 983
Total Other Income
8 983
-
8 983
Assets gifted from KXC
Assetsgifted
-
-
-
Total Grants
-
-
-
Total Income
221 421
96 490
317 911
2024		 Unrestricted Restricted
Total
£
£
£
609
-
609
12 811
-
12 811
12 875
-
12 875
10 603
-
10 603
34 742
-
34 742
4 100
-
4 100
2023
75 741
-
75 741
-
92 830
92 830
-
92 830
92 830
-
-
-
-
-
-
236
-
236
236
-
236
97 667
-
97 667
97 667
-
97 667
173 644
92 830
266 474

Page 15

St Gregory's Church, Newquay Notes to the accounts For the year ended 31 December 2024

3. Expenditure
Unrestricted Restricted
Total
£
£
£
Worship
Christmas
1 560
-
1 560
Depreciation on PA/AV Equipment
771
-
771
Easter
78
-
78
Festival services
270
-
270
PA and AV
1 680
-
1 680
Prayer
106
-
106
Preaching and Teaching
183
-
183
Sundays Content
995
-
995
Worship
131
-
131
Total Worship
5 775
-
5 775
Community
Events
2 342
-
2 342
Kids
1 883
-
1 883
Pastoral
217
-
217
Rhythms
124
-
124
TABLE
592
-
592
Toddlers
171
-
171
Wild Fires
-
-
-
Youth (Mid-week)
1 098
-
1 098
Youth(Sundays)
531
-
531
Total Community
6 959
-
6 959
Mission
Alpha
-
-
-
CAP
-
809
809
Evangelism
50
-
50
Grants and GivingAway
2 050
-
2 050
Total Mission
2 100
809
2 909
Operations
Centralised Resources
45
-
45
Communication & Media
527
-
527
Depreciation on IT
280
-
280
Depreciation on Fixed Assets
362
-
362
Finances
504
-
504
Graphic Design
-
-
-
Hospitality
78
-
78
Insurance
276
-
276
IT
1 672
-
1 672
Office equipment
163
-
163
Office Management
270
-
270
Office Supplies
334
-
334
Recruitment
340
-
340
Repairs and Maintenance
9
-
9
Rent
2 600
-
2 600
Shared Consumables
314
-
314
Shared Equipment
406
-
406
Staff Hospitality
105
-
105
Staff Training
891
-
891
Staff Well Being and Retreats
431
-
431
Travel
533
-
533
Volunteer Support
513
-
513
Total Operations
10 653
-
10 653
Staff
CAP Manager
-
2 610
2 610
Children and Youth Pastor
5 673
28 600
34 273
Finance Manager
4 720
-
4 720
Vicar (Anna)
10 025
45 070
55 095
Worshipand Events Leader
28 878
-
28 878
Total Staff
49 297
76 280
125 577
Governance
Accounting
2 240
-
2 240
Bank Charge
18
-
18
Payroll
540
-
540
PCC & trustee expenses
711
-
711
Total Governance
3 509
-
3 509
Total Expenditure
78 292
77 089
155 381
2024		 Unrestricted Restricted
Total
£
£
£
1 175
-
1 175
375
-
375
247
-
247
84
-
84
1 224
-
1 224
453
-
453
303
-
303
923
-
923
1 084
-
1 084
2023
5 868
-
5 868
1 714
-
1 714
1 026
-
1 026
163
-
163
21
-
21
1 409
-
1 409
-
-
-
1 064
-
1 064
571
-
571
516
-
516
6 485
-
6 485
96
-
96
-
-
-
-
-
-
12 240
-
12 240
12 336
-
12 336
48
-
48
1 815
1 210
3 025
215
-
215
233
-
233
466
-
466
468
-
468
77
-
77
263
-
263
1 390
-
1 390
48
-
48
1 150
-
1 150
10
-
10
525
-
525
88
-
88
770
730
1 500
128
-
128
4 681
147
4 828
16
-
16
2 027
378
2 405
799
-
799
335
-
335
1 275
-
1 275
16 827
2 465
19 293
-
-
-
-
34 685
34 685
3 150
-
3 150
-
53 500
53 500
22 005
-
22 005
25 155
88 185
113 340
1 500
-
1 500
78
-
78
-
-
-
725
-
725
2 303
-
2 303
68 976
90 650
159 626

In the above transactions £2,000 is the Independent Examiners Fee.

Page 16

St Gregory's Church, Newquay Notes to the Financial Statements For the year ended 31 December 2024

4. STAFF COSTS 2024 2023
£ £
Wages and salaries (incl PAYE) 59 999 56 690
Social security costs 1 270 4 567
Pension costs 4 493 2 529
65 762 63 786
2024 2023
Total amount of staff employed 3 2
FTE staff employed 2 1 2 0
No staff member was paid over £60,000 in 2024

5. Mission Grants

Grant Recipient Grant Amount
CAP 2 000
Total 2 000

6. Fixed Assets

6. Fixed Assets 6. Fixed Assets
Cost At 1 January 2024
Additions during year
Disposals during year
At 31 December 2024
Depreciation At 1 January 2024
Charge for the year
Disposals during year
At 31 December 2024
Net Book Value At 1 January 2024
At 31 December 2024
7. Debtors
2024
Giving Owed at year end
2 264
Debtor
714
Prepayments
978
Total
3 956
8. Creditors (amounts falling due less than one year)
2024
Accruals
2 000
Creditors
12 180
Deferred Income
998
Total Current Liabilities
15 178		 Computer / Office
PA/AV
Other Fixed
Total
£
£
£
775
2 314
840
3 929
1 250
1 250
-
-
-
-
2 025
2 314
840
5 179
(215)
(375)
(233)
(824)
(362)
(771)
(280)
(1 413)
-
-
-
-
(577)
(1 147)
(513)
(2 237)
560
1 939
607
3 105
1 448
1 167
327
2 942
2023
1 154
2 182
-
3 337
2023
1 500
4 497
-
5 997
15 178

9. Related Party Transactions

During the year 2 of the trustees were reimbursed a total of £337 (2023: 3 trustees reimbursed £534) for travel expenses

17

St Gregory's Church, Newquay Notes to the Financial Statements

For the year ended 31 December 2024

10. Restricted Funds

10. Restricted Funds
Donor Purpose Opening Balance
1.1.2024		 Income Expenditure Write off to general
funds		 Closing
Balance
31.12.2024
£ £ £ £ £
Truro Diocese CAP - 25 000 (3 419) - 21 581
Truro Diocese LICF Funding 2 180 42 890 (45 070) - -
Truro Diocese Mission Funding - 28 600 (28 600) - -
Total Restricted funds 2 180 96 490 (77 089) - 21 581
11. Comparative Restricted Funds
Donor Purpose Opening Balance
1.1.2023		 Income Expenditure Write off to general
funds		 Closing
Balance
31.12.2023
£ £ £ £ £
Truro Diocese LICF Funding - 55 680 (53 500) - 2 180
Truro Diocese Mission Funding - 37 150 (37 150) - -
Total Restricted funds - 92 830 (90 650) - 2 180
12. Unrestricted Funds
Donor Purpose Opening Balance
1.1.2024		 Income Expenditure Transfers Closing
Balance
31.12.2024
£ £ £ £ £
Designated Mission Giving fund Giving to partner
organisations		 - - (2 000) 19 123 17 123
General funds 104 668 221 421 (76 292) (19 123) 230 674
Total Unrestricted funds 104 668 221 421 (78 292) - 247 797

There were no designated funds in 2023.

13. ANALYSIS OF NET ASSETS BY FUND

13. ANALYSIS OF NET ASSETS BY FUND
2024
Fixed Assets
Other Assets
Total Assets
Current Liabilities		 Unrestricted Funds
Restricted
Funds
TOTAL FUNDS
2 942
-
2 942
260 034
21 581
281 615
262 976
21 581
284 557
(15 178)
-
(15 178)
247 798
21 581
269 378

18