Charity regi5tratlon number 1201258 Central Church Bideford Annual Report and Fingnaal Statements for the perh)d from 7 December 2022 to 31 March 2024 WESTCOTTS CHARTERED ACtOUllTAMTS 4 BUSINCSJ ADVtSENS
Central Church Bideford Contents (continued) Reference and Admlnlstralive Details Trustees, Rewt 2103 Independent Examinees Rerk)rt ststement of FInanal Athilie8 Balance Sheet Notes to the Financtal Statements 71014
Central Church Bideford Reference and Admlnlstrative Details Twstees.. Andrew Lynch (appointed 7 December 2022) Cra5g Ma¢kay lappoinled 7 December 2022} David Symons lappolnted 7 December 2022) Victc¥ia Price lappoinled 7 December 2022> Susan Rimmer (appointed 7 December 20221 Geoffrey Gilbert lappolnted 7 December 2022) Jonathan PoyTrer lappointed 11 December 20231 Chris Willis (appointed 7 December 2022 and resign8(1 11 December 20231 Charity Regislratlon Number 1201258 Principal Offlce 27 Bay View Road Northam Bideford Devon EX38 18H Westcotts ISWI LLP 47 Boutport Street Barnstaple Devon Indèpondent Examiner EX31 1SQ Page 1
Central Church Bldeford Trustees. Report The truslees present the annual report together with the finandal Statements of the charity for the period ended 31 March 2024. Objedivgs and alms of tho charity We alm to promote the Christian relwJion in North Devon and Torrfdge through weokly Sunday sViCes, family groups, and regular Aph8 Courses. and to relieve poverty. Publi¢ Benefit The charty aCknoedge3 Its requirement to demonstrate dearly that it must have charitable purposes that are for the public beneff(. Details of how the charity has chieved this are provided in the Trustees. report. The Trustees confiTm that they have paid due regard lo the Charity Commission guidance on publlc benefit before deuding thich activities the charity should uThJertake. How our activities deliver publlc nefit Central Church Bideford holds weeY meetlngs in Bideford eaGh Sunday al Bideford College. There are dedlcated children's groups for children aged 3 to 15 and a creche. There are regular mid-week groups, including one for earfy secondary age children and one for older teenagers. The majority of people who attend Central Church are part of a small group. These groups are desiyned lo provide mmunity in the church where people can find support, encouragement. and go deeper in their exploration of the Christian faith. We have run Alpha UrseS throughout the period: the8e are courses that enable people of any faith or none to engage with the claims of Christianity In a discusslon based envlronmenl. We have continued to support the East-the-water Community Pantry Ihroygh collecting donatlons throughout the year, and by packnng Chrfstmas Harnpers to be given out al Christrn8s. We have also Supported the Christmas ShoeLx)x appeal of Samaritan's Purse Inlematlonal, another UK registered charity, by collecting donations from ca)urch members. Financial revlew During the first perKJd of operation for the charty, Central Church 8ideford received income totalling £203,328 and Incurred expenditure totslling £143,355. AJI income reiVed was unrestricted. ReseThies Policy Central Church aims to hold the equNalent of three months expenditure as general reserves. As al 31st March 2024. the charity held free reserves of £56,522, thi5 represents approximately 4 months expenditure. Events after the period Central Church became the Tru$lee of the Bethel Chapel and Manse in Easl-thfrwater in September 2024. Page 2
C•ntral Church Bideford Trust608' Report (contlnued) Slatsm•nt of Tru8t•o8' R••pgn8lbllld•s The tru$lee6 aro r06pon6lbl8 for praparing th& Irust8e5' rowt and the finandal stat8m8nts In a(OrdanCe wlth the United Klngdom Aceountlng Stsndards (Unlted Kirwdom Generally Accepted coundng Prac¥) and ¥pplJcoble and regul*knns. Thg law gppllcablg to charitlos rgqulrg6 th• tru6tBe$ lo pr8pafe financlal slatem$nts for 88ch ff nancial parlod whlch glve a trua and falr vi8w of tho stsi& of affalrs of the charlty 8nd of the Incornlng r08ources and appllcatlon ol resources of the charity for Ihai polc¥J. In preparfrnJ these fflnartial 8tatsmenl8. the trus18&s are requlred to: Sdeca suNablè 8ceountlng TxAlcle8 8nd than apply theffl con8lst&ndy. observe the molly)d8 and princlple8 in the ChBrib¢e SORP., m¥ko5udgements and e811msWS that are reasonable and pruijent., yl•ts whethor applkabl8 accnng Blondard¥ havg b followe4 sublo¢t to any Mateal dep8rtuts¥ dlscS)8ed •nd &xpLglnod In the fir$8rri81 stotemants; and prepare the finandal st8lemen18 On Ihe golng Goncem basls un1088 Inapproprfate to preiumg that the ¢harity Mll conllnu¢ In sin¥S5. Th& Injslegs arg re8pon81ble for k8eplng propor accountlng rgrA)rd8 that wlih reasoTrable acr#Jracy al any time lh& fiNanclal p¢)sition of the chadty and enabl8 them Io 8nsurè th81 the financial ¥tsternBnts comply with thg Chsri1S08 AGI 2011, lh8 Charllio8 IAcLyJunts ond Reports) Rogulalions 2008, and th& provlslon5 01 the con5tltutlon. The tru5tÈès are also responslb18 s8feguardlng Ihe assets el ¢he charfty and hence for tsklng reaxnable steps lor prevonlon 8nd dateclion of fraud and other IrregularlUe8. Th& IrusteaB are responBibla for Ihe molntenan¢8 and Iniegrfty of Ihè corporats Bnd Inenclal Inform8tlon Induded on Ihe charft8ble companys websits. LogislatiLn gOvnIng the preporauon and dls8emlnatbn ol financw ststernents moy dlff8r from log1thOn In otsrlurbdlctlonB. iY/i I Tho gnnual rnport was approved by thè tnJ51ee8 of the cherfty w ............ behalf ty.
nd gned on Its
Andrew LClI Trustee Paga 3
Central Church Bideford Independent Examinerfs Report to the trustees of Central Church Bideford I report to the trustees on my examination of the accounts of Central Church Bideford for the year ended 31 March 2024. Responsibilities and basis of report AS the charity trustees of Central Church Bideford you are responsible for the preparation of the accounts in ardance with the requirements of the Charilie8 Act 2011 1.the Act.). I report in respect of my examinatior) of the Central Church 8ideford's accounts carried out under secli¢M 145 of the 2011 Act and in carrying out rny examination I have followed all the applicable DirectKJns given by the Charity Commission under section 145151(bl of the Act. Independent examlnevs stalement I have completed my examination. I confirm Ihat no material matters have come to my attention connection wth the examination giving me cause to be&ve that in any material respect.. 1. accounting record8 were not kept in respect of Central Church Bideford as required by section 130 of the Acl; or 2. the accounts do not accord with those COldS,. or 3. the accourb15 do not comply wrth the accounting requirements concemlng the form and content of aceounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requSrement that the accounts give a 'twe and fair Vie whith is nol a matter considered as part of an independent examination. I have no coremS and have come across no other matters In nnectiOn wlth the exaMinatn to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Catherine Williams FCA DChA Independent Examiner Weslcotts ISWI LLP 47 Boulport Street Barnstsple Devon EX31 1SQ Dale'..•a.............. Page 4
Ceniral Church Bldeford statement of Financial Activities for the Perlod from 7 December 2022 to 31 March 2024 Unr•stricted funds Total 2024 Note Income and Endowments from: Cknnations and legacie5 Charitable activities Investment income 203.198 69 61 203,198 69 61 Total nm& 203,328 203,328 Expenditure on: Charflable actimties 143.355 1143,355) Total experKliture 143.355 143,355 Net income 59,973 59.973 Net movement In funds 59.973 Sg,973 Reconclllatlon of funds Total funds carrled foward 17 59.973 59,973 l of the charW8 actimtles derive from continuing operations during the atw)ve period. The notes on pages 7 to 14 fomi an integral part of these financial ststernents. Page 5
Central Church BSdeford (Reg13tratlon number: 1201258) Balance Sheet as at 31 March 2024 2024 Not• Flxed T8ngibla assets 13 3,451 Currènt AS1$ Debtors Cash at bank and In hand 14 2.913 57,331 60.2M Cr•(ItoTs: Amounts falllng du• wlthln one y• 15 N•t ¢urrgnt a•s•1s se,522 59,973 N•t a•s9ts Fund• ofth• dwrlty: Unmtrfctsd Incom• fund8 UnTrslwlcted fund8 59,973 59,973 T¢)tal 17 Thg Inandal 8latsments on page8 5 to 14 were aH)rov•d ty Ihe tNsb•s, arKI authedsed for158Ue Dn 14*.1.i.i.r. and 81gned on Iheir behJl by: The Th)tss on paggs 7 to 14 fm an IntsgTal part ofthese fln¥ndpl 81at8merts. Paga 8
Central Church Bldeford Notes to the Financial Statements for the Perlod from 7 December 2022 to 31 March 2024 1 Accountlng policies Statement of Compliance The financial ststements have been prepared in accLJrdanr* with the second edilion of the Charities Statement of Recommended Practice issued in October 2019, the Financial Repong Standard applicable in the United Kingdom and Republic of Ireland (FRS 1021 and the Charitie8 Act 2011. Basis of preparation Central Church Bideford meets the definition of a public benefit entity under FRS 102. The accounts (financial slalementsl have been prepared under the historical cost convention with items recognised al cost or transaction value unless Otherwise stated in the relevant notelsl to these accounts. The accounts are prepared in sterfing which is the fvnctional (#Jrrency of the charity. Going concern The trustees consider that there are no materi81 unrtaIne$ al)out the charitys ability to conunue as going concem. Income and endowments Voluntsry income induding donations, gifts, legaoyes and grants that provide core funding or are of general nature is recoonised when the charity has entitlement to the Inco, it is probable that the income wll be recelved and the amount cars be measured with SLffllcient reli8bilty. Donations andlegacies Donations and legacies are recogn18ed on a receivable basi5 when receipt is probable and the amount can be rellably measured. Investment In¢ome Dividends are recognised once the dividend has been dedared and nOfication ha8 been reiVed of the dividend due. Expenditure l expenditure Is recoonised once there is a legal or wnstrudve ci)ligation to that expenditure. it is probable settlement is required and the aTnounl can be measured reliably. All Costs are allocated to the appliGable expenditure heading that aggiegate similar ¢osts to that category. Where costs nn0t be dlrecuy attributed lo parbujlar headings they have been allocated on a basis wnsistenl with the use of resources, with ntral staff costs allocated on the basis of time spen( and deprecjation charges allocated on the portion of the asset's use. Other sUPPOrt costs are allocated based on the spread of stsff costs. Charftable ac¢ivltle$ Charitable expendlture comprises those costs Incurred by the charity in the delivery of its activities and ServIS for its beneficiaries. 11 in¢ludes both costs that can be allocated directly to such activitie8 and those ¢osts of an indired nature necessary to support them. Page 7
Central Church Bldeford Notes to the Financlal Statements for the Perlod from 7 December 2022 to 31 March 2024 (contlnued) Grant provlsions Provisions for grants are made vthen the intention lo make a grant has been communicated to the recipient but there Is uncertainty 8bout either the timing of the grant or the amount of grant payable. Supp¢rt costs Support costs indude central lunctKJns and have been allocated to activity cost categories on a basls )nststent wth the use of resources, for examplf:, alloczting property costs by floor area8, or per caplta. staff costs by the Ime spent and other costs by their usage. Taxation The charity is consldered to pass the tests set out in Paragrakth 1 Schedule 6 of the Finane* Act 2010 and therefore (t meets the delinitlon of a charitable company for UK ojrporation lax purposes. Accordingly. the charity is potentially exempt from tsxation in respeot of incA)me or capital gains reIVed wthin 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 in¢x)me or gains are applied exclusively lo charitatAe purposes. Tangible fix•d assets Indfvidual fixed assets are initially recorded al cost, less any Subsequent aocumulated deprlatIOn and subsequent accumulated Impaiment losses. Deprgciation and amortisation Depreciation 1$ provided on tangible fixed assets 80 8$ to write off the cost C valualion, less any estimated residual value. over their eypecte(l useful ecorh)mic lffe as follows= Depreclatlon method and rate 25% straight line Asset class Equipment. fixtures and fittlngs Cash and cash equivalents Cash and cash equivalents CA)mprise cash on hand and call deposts, and other short-term highly liquid investments that are readily cOnVebIe to a known amount of caBh and are 8uble¢t to an Insignrficant risk of change ir) value. Fund structure Unrestiioled income funds are general funds that are available for use at the trustees di$Gretlon in fvrtherance of the objective$ of the charty. FlnanGial Instruments Classmlcètlon Financial assets and financial liabilities are recognl8ed when the charity becomes a party to the contiactual provisions of the inslrumenl. Financial liabilities and equity instruments are dassrfied according lo the substsnce of the contractual arrangements entered into. An equity instrument is any contract that evhdenos a residual interest in the assets of the charity after dedu¢ting all of115 liabilities. Page 8
Central Church Bideford Note5 to the Financial Statements for the Period from 7 December 2022 to 31 March 2024 (contlnued) Recognltlon and measurement All financk41 assets and liabilityes are initially measured at transaction price (including Iransaclion costs). except for those finanual assets classified as al f8ir value through profil or loss, which are initially measured at fair value {whith is normalSy the transaction price exduding transaction $ts1, unless the arrangement c¥Jnsif(ules a financing transaction. If an arrangement constitutes a finanang Iransactron, the financial asset or financial liability is measured at the present value of the futu[0 payments discouriled at a market rate of interest for a similar debt instrument. Financial assets and llaknleS are only offsel in the stslement of financial position when. antl on when there exists a legally enforceable right to sel off the recogni8ed amounts and the charity intend8 either lo setue on 8 net basis, or lo realise the asset and settle the Ilability simumaneously. Financlal assets are derecognised when and only when a} the conlraclual rights to the cash flows from the financial asset explre or are settled, bl the charity nSferS lo another party substantially all of the rlsks and rewards of ownership of the financial asset, or c} the chaTily, despite having retained some, but not all, svJnifi¢ant risks and rewards of ownership, has Iransferred control of the asset to another party. Financial liabilities are derecconised only when Ihe obli9atlon specrfied in the contract k8 discharged. cancelled or expires. 2 Inne from donations and 1ogaci•s Unrestrictsd funds General Total 2024 Donations and legacies; Donations received 203,198 203,198 203,198 203,198 3 Income from Gharitable activities Unrestricted funds General Total 2024 Charitable Activities 69 69 Page 9
Central Church Bldeford Notss to the Flnancial Statements for the Perlod from 7 December 2022 to 31 March 2024 (¢ontlnued} 4 Investment ineom8 Unrestricted tunds General Total 2024 Bank Interest I1Vable 61 61 61 61 S Expenditurn on charitable actlvilios Unrestrlctsd fund5 Goneral Total 2024 Charitsble Advitles Grarbt fundiNJ of activities Allocated support costs 126.725 500 16,130 143,35S 126,725 500 16,130 143,355 Page 10
Central Church Bldeford Noles to the Financlal Statements for the Perlod from 7 December 2022 to 31 March 2024 (contlnued) 6 Analysls of support costs Support costs allocated to charitablè activities Total 2024 Independent examineffs remuneration Office costs AntancY and payToII costs Legal and professional fees Bank charges 1,440 4,281 1.846 8,503 60 16.130 7 Grantwmaking Analysis of grants Grants to individuals 2024 Analysis Grants 500 The support costs assoclated with granl-making are £Nil. 8 Nel incomingloutgoing resou9$ Nel incomingloulgoing resources for Ihe period indude: 2024 Depreciation of fixed assets 1,152 9 Trustees reMuratiOn and enSeS From lime to tSme Trustees will make sundry purchases for which they are reimbursed against receipts. Two Trustee is paid for their role Mlhin ihe churth, during the year they were paid £72.286. They do not receive any remuneration in respect of their role 88 a Trustee of the charity. In addition, one Trustee received a monthly ministy gift totalling £3,600. Page11
Central Church Bideford Notes to the Financlal Statements for the Perlod from 7 December 2022 to 31 March 2024 (contlnued} 10 Staff Costs The ag9regale payroll Costs were as follows: 2024 Staff costs during Ihe period were: Wages and salaries SoeAal ser#Jrity costs Pension costs 72,966 2.116 4.921 80,003 The monthly average number of persons (induding senlor management I leadershlp team) employed by the Gharily durin9 the period was as follows.. 2024 No Employees No efflployee receNeil emoluments of more Ihan £60,0 durlng the perd 11 Indepèndent •xamlnerfs remuneratlon 2024 Examination of the finanaal statements 1.440 Page 12
Central Church Bideford Notes to the Financlal Statements for the Perlod from 7 December 2022 to 31 March 2024 (contlnued) 12 Taxation The charity18 8 registered charity and is therefore exemptfrom toxation. 13 Tangible fixed assets Furniture and equipment Total Cost Additions 4.603 4.603 At 31 Mah 2024 4,603 4,603 Depreciation Charge for the year At 31 Marc*b 2024 1,152 1,152 1.152 1,152 Net book value At 31 March 2024 3,451 3,451 14 Debtors 2024 Prepayments Other debtors 2,708 205 2,913 15 Credito. arnounts falling due within one year 2024 Trade creditors Other creditors Accruals 1,773 3e8 1.581 3,722 16 Pgnsion and olher schemes Defined contrilxrtion pension xheme The charty operates a defined contribution pension scheme. The pen8ion cost tharge for the period represenis contiibutions payable by the tharity to the scheme and amounted to £4,921 Page 13
Central Church Bideford Notes to the Flnanclal Statements for the Perlod from 7 December 2022 to 31 March 2024 (continued) 17 Funds Balance al 7 December 2022 Balance at 31 March 2024 Incomlng resources Resources expended Unrestrlcted funds General General Funds 203,328 143.355 59.973 18 Analysis of net assets b•tween funds Unrestricted funds General Total funds at 31 March 2024 Tangible fixed assets Current as8et$ CutTent liabilities 3,451 60,244 3.722 3,451 60.244 3,722 59.973 Total net assets 59.973 19 Related party transactions There were no lated paty Ir8n8aotions in the pericmj. 20 Non4djusting events after the financial period Central Church Bideford became the Trustee of the Bethel Chapel arKI Manse in East-the•Water September 2D24. Page 14