Docusign Envelope ID: 1CBB674B-84D4-4689-B07E-0A97637B56CC **Charity number: 1201951** ## **THE ST JOSEPH'S BENWELL CHURCH TRUST** ## **UNAUDITED** **TRUSTEES' REPORT AND FINANCIAL STATEMENTS** **FOR THE 12 MONTH PERIOD ENDED 31 MARCH 2025** Docusign Envelope ID: 1CBB674B-84D4-4689-B07E-0A97637B56CC |**THE ST JOSEPH'S BENWELL CHURCH TRUST**|| |---|---| |**CONTENTS**|| ||Page| |**Reference and Administrative Details of the Charity, its Trustees and Advisers**|1| |**Trustees' Report**|2 - 6| |**Independent Examiner's Report**|7 - 8| |**Statement of Financial Activities**|9| |**Balance Sheet**|10| |**Notes to the Financial Statements**|11 - 25| Docusign Envelope ID: 1CBB674B-84D4-4689-B07E-0A97637B56CC ## **THE ST JOSEPH'S BENWELL CHURCH TRUST** ## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025** |**Trustees**|Rev Kenneth Matthews| |---|---| ||Dr Chris Tasker| ||Mrs Julie McGrane| ||Rt Rev Jonathan Pryke| ||Dr Anna Redfearn| ||Rev Ramzi Adcock (resigned 31 March 2025)| ||Dr Thomas Smyth| ||Mrs Joanna Finlay| ||Mrs Jennifer Chuen Dawes (appointed 15 September 2025)| |**Charity registered**
**number**
1201951
**Principal office**
St Joseph's Benwell
South Benwell Road
Newcastle upon Tyne
NE15 6JL
**Accountants**
Kinnair Associates Limited
Chartered Accountants
Aston House
Redburn Road
Newcastle upon Tyne
NE5 1NB
**Bankers**
HSBC UK Bank plc
1 Centenary Square
Birmingham
B1 1HQ
**Solicitors**
Ellis-Fermor and Negus
2 Devonshire Avenue
Beeston
Nottingham
NG9 1BS
**Treasurer**
Mr Stephen Madgwick|| Page 1 Docusign Envelope ID: 1CBB674B-84D4-4689-B07E-0A97637B56CC ## **THE ST JOSEPH'S BENWELL CHURCH TRUST** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025** The Trustees present their annual report together with the financial statements of the Charity for the 1 April 2024 to 31 March 2025. The St Joseph's Benwell Church Trust was registered with the Charity Commission on 15th February 2023 as a Charitable Incorporated Organisation (CIO). The assets, operations and activities were successfully transferred to the CIO on 30th November 2023 from the Jesmond Trust. This is the second annual report of the trustees for the financial period ending 31 March 2025. ## **Objectives and activities** ## **a. Policies and objectives** St Joseph’s Benwell Church Trust was registered with the Charity Commission on 15th February 2023 as a Charitable Incorporated Organisation (CIO). St Joseph’s Benwell has a full governing document in place as required by the Charity Commission. This governing document summarises the purposes of the CIO as: _The objects of the CIO are the advancement of the Christian Religion through the provision of property (including accommodation for clergy) finance, ministry and other help for the whole mission of the church, pastoral, evangelistic, social and ecumenical in accordance with the Anglican Doctrine that is ‘grounded in the Holy Scriptures, and in such teachings of the ancient fathers and councils of the church that are agreeable to the said scriptures. In particular such doctrine is to be found in the 39 Articles of Religion, the Book of Common Prayer and the Ordinal’ (Church of England Canon A5), and expounded in the (Anglican) Reform Covenant; and in accordance with the 19th Century mission of Jesmond Parish Church (the founder of St Joseph’s Benwell Church) for ‘the maintenance and promulgation of sound scriptural and evangelical truth’ for the public benefit._ Trustees have maintained the required focus on ensuring that the CIO meets its charitable objectives and ensures a public benefit highlighting how trustees have met the Charity Commission requirements. St Joseph’s Benwell is also a member church of the Anglican Mission in England (charity number: 1158679), sending representatives to its Diocesan Synod and under the spiritual oversight of the Diocesan Bishop and Assistant Bishops. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'. Page 2 Docusign Envelope ID: 1CBB674B-84D4-4689-B07E-0A97637B56CC ## **THE ST JOSEPH'S BENWELL CHURCH TRUST** **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025** ## **Objectives and activities (continued)** ## **b. Main activities undertaken to further the Charity's purposes for the public benefit** 2024/25 was the first full year operating as fully independent entity, after operating as a church ‘plant’ of the Jesmond Trust since the purchase of the church building in November 2013, the subsequent refurbishment and renovation of the building between 2014 and 2016, and the start of weekly services from January 2016. The governing document of our CIO allows the Jesmond Trust, acting as our founder and patron, to nominate 2 members of the trust. Our diocese, the Anglican Mission in England (AMiE), advises that we should have a trustee who is a member of another AMiE church. During this period, one of the Jesmond Trust nominated trustees, Ramzi Adcock came to the end of his term of office. His role as a nominated trustee was taken (in September 2025) by Jen Dawes, who is also a member of Holy Trinity Gateshead church, and thus also fulfils the Anglican Mission in England (AMiE) requirement for an external trustee from another AMiE church when possible. Jonathan Pryke (a Jesmond Trust nomination), Anabel Redfearn and Julie McGrane came to the end of their initial period as trustees, and all were re-appointed for a further period of 3 years. A comprehensive induction pack for new trustees was developed to help this process, building on an existing trustee role description and key Charity Commission recommendations. Tom Smyth took over as chair in December 2024. Our lead safeguarding trustee (Anna Redfearn) has continued to oversee the church’s safeguarding policies and operations – including ensuring that the policy is up to date and reflects external specialist advice as well Charity Commission guidance. This includes safeguarding training for all staff and volunteers, the completion all necessary DBS checks, and ensuring that there is sufficient safeguarding capacity in place across the church. Over this period trustees have updated governance structures to reflect the existence and actual operation of the Trustees, as well as the accountability and oversight we have from the Anglican Mission in England, added byelaws to clarify how the various constituent parts of the church work together. A new ‘church voice’ group was established to ensure that both the trust and key activities of the church are effective. Two sub-committees are in operation - the people team, led by Julie McGrane, continue to ensure our HR policies and procedures, all feeding into a staff handbook, while the finance team, led by treasurer Joanna Finlay, have ensured that he CIO sets a balanced budget, has clear financial procedures and stewards our financial and building resources effectively. A further group, co-ordinated by Chris Tasker looks after the fabric and facilities of the church buildings and grounds. The full list of trustees is: Tom Smyth (chair) Ken Matthews (ex-officio – vice-chair) Joanna Finlay Anna Redfearn Julie McGrane Jonathan Pryke Ramzi Adcock (end of office in March 2025) Jen Dawes (appointed September 2025) Chris Tasker (secretary) These trustees provide oversight and support to the church operations, working with the staff team and church membership to deliver the overall mission of St Josephs summarised in the diagram on the next page: Page 3 Docusign Envelope ID: 1CBB674B-84D4-4689-B07E-0A97637B56CC ## **THE ST JOSEPH'S BENWELL CHURCH TRUST** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025** ## **Objectives and activities (continued)** As at 31st March 2025, the full list of staff at St Joseph’s was: _Ken Matthews (Senior Minister) Ben Pryke (Associate Minister)_ David Milnes (Associate Minister) Elspeth Clayson (Pastoral Worker) Lydia Cochrane (Children’s and Youth Co-ordinator) Dave Dowling (Operations Manager) Karen Bessent (Administrator) Vera Pakaphan (Finance Adminstrator) Fiona Matthews (Debt Centre Manager) Over the period of this report David Milnes completed his training and preparation for the role of presbyter in the church and was ordained to that role on 22nd June 2025. Trustees also agreed the inclusion of a new role as children’s and youth worker – but as yet this post remains unfilled. The works on the presbytery roof were completed in April 2024, which has been a considerable improvement to the fabric of the building – ensuring that offices and meeting rooms are more fit for purpose, and not impacted by adverse weather. Plans for a new church plant started to be developed, and it is anticipated this will progress in 2025/26, Our main worship services continue on a Sunday, with weekly Sunday services in both the morning and evening with an average total weekly attendance of approximately 315 in Autumn 2024 - with 209 at the morning service, while 106 at the evening service. St Joseph’s continues to held a monthly all-age service, featuring interactive elements and simplified messaging to engage all the congregation. Our special services at Easter and Christmas involving special music, readings, and community participation, as well as specific activities with local schools and community groups. Our family carols attracted 340 people, while the ‘Carols by Candelight’, with a full choirs and hundreds of candles saw 436 attending. Our Easter 2025 services (including a community and church brunch) had 358 in attendance. The church also facilitated midweek small groups meeting in homes on Tuesdays and Wednesdays for Bible study, prayer, and deeper fellowship, as well as specific groups such as "Central" group for individuals new to Christianity or exploring faith, and one for whom English is a second language to support individuals from diverse backgrounds within the community. Our children and youth work continues with volunteer run Sunday Groups, with age-specific groups during the 10:30 am service, including Crèche (0-2.5 years), Scramblers (2.5 years-pre-school), Climbers (Reception-Year 2), and Explorers (Years 3-5), providing tailored Bible teaching and activities for children weekly. Our youth ministry host "Rooted" (Years 7-9) during the 6 pm service and "Encounter” (Years 10-13) after the 6 pm Page 4 Docusign Envelope ID: 1CBB674B-84D4-4689-B07E-0A97637B56CC ## **THE ST JOSEPH'S BENWELL CHURCH TRUST** **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025** ## **Objectives and activities (continued)** service, focusing on discipleship, games, and fellowship for young people, while Midweek Activities include "KidsZone" on Monday afternoons (3:20 pm - 4:20 pm) for primary ages, including games and a Bible talk and "Fri-Up" on Friday evenings during term time (6 pm - 7 pm) for school years 6-9/10, featuring bible talk, pizza and games. Wider Community Outreach and Pastoral Care includes "The Drop In" - a weekly community drop-in session, offering free refreshments, a pre-school play area, creative activities, and a safe space for community members to connect and receive support. We also operate a Christians Against Poverty (CAP) Debt Centre, which provides free, in-depth debt counselling services in partnership with the national charity Christians Against Poverty (CAP). ## **Achievements and performance** ## **Financial review** ## **a. Going concern** After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. ## **b. Reserves policy** The CIO’s reserves policy is to hold short-term reserves sufficient for working capital – this is estimated to be no less than 3 and 6 months of total essential expenditure - between £54,000 - £108,000. The Trustees are satisfied with the current level of reserves which are set out in more detail below. ## **c. Financial Review** During the period the CIO’s total income was £455,654 (2024: £1,788,165). Voluntary donations were £444.922 (2024: £1,785,572), of which £nil (2024: £1,548,375) was a donation of assets from The Jesmond Trust and £444,922 (2024: £237,197) was cash and receivable gift aid including £31,250 (2024: £17,500) of restricted donations. The Trustees thank God for his generous provision of these assets and funds. Total expenditure was £406,438 (2024: £189,115). The CIO made a funds surplus of £49,216 (2024: £1,599,050) for the period. The CIO held unrestricted fund balances at 31st March 2025 of £1,648,266 (2024: £1,594,050) of which capital funds holding fixed assets totalled £1,579,596 (2024: £1,612,860) and income funds were £68,670 (2024: negative £18,810). Income funds include a long term loan of £90k (2024: £129k) held to finance the acquisition of the property at Chester Pike. The CIO held restricted funds of £nil (2024: £5,000) at the period end. These funds were to be utilised towards the mortgage on the Chester Pike property. Page 5 Docusign Envelope ID: 1CBB674B-84D4-4689-B07E-0A97637B56CC ## **THE ST JOSEPH'S BENWELL CHURCH TRUST** **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025** ## **Statement of Trustees' responsibilities** The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles of the Charities SORP (FRS 102); - make judgments and accounting estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and 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 Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They 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. 15-Jan-2026 Approved by order of the members of the board of Trustees on and signed on their behalf by: ## **Dr Thomas Smyth** Page 6 Docusign Envelope ID: 1CBB674B-84D4-4689-B07E-0A97637B56CC ## **THE ST JOSEPH'S BENWELL CHURCH TRUST** **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025** ## **Independent Examiner's Report to the Trustees of The St Joseph's Benwell Church Trust ('the Charity')** I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2025. ## **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 ('the 2011 Act'). I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Page 7 Docusign Envelope ID: 1CBB674B-84D4-4689-B07E-0A97637B56CC ## **THE ST JOSEPH'S BENWELL CHURCH TRUST** **INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025** ## **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 (enter body here), which is one of the listed bodies. Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination. 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. This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report. Signed: Dated: 15-Jan-2026 Mai Mak ICAEW **Kinnair and Company Ltd** Chartered Accountants Aston House Redburn Road Newcastle upon Tyne NE5 1NB Page 8 Docusign Envelope ID: 1CBB674B-84D4-4689-B07E-0A97637B56CC ## **THE ST JOSEPH'S BENWELL CHURCH TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025** |**Note**
**Income from:**
Donations and legacies
3
Charitable activities
5
Investments
**Total income**
**Expenditure on:**
Charitable activities
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2025**
**£**
**443,672**
**9,948**
**784**
**454,404**
**400,188**
**400,188**
**54,216**
**1,594,050**
**54,216**
**1,648,266**|**Restricted**
**funds**
**2025**
**£**
**1,250**
**-**
**-**
**1,250**
**6,250**
**6,250**
**(5,000)**
**5,000**
**(5,000)**
**-**|**Total**
**funds**
**2025**
**£**
**444,922**
**9,948**
**784**
**455,654**
**406,438**
**406,438**
**49,216**
**1,599,050**
**49,216**
**1,648,266**|_Total_
_funds_
_2024_
_£_
_1,785,572_
_2,343_
_250_
_1,788,165_| |---|---|---|---|---| |||||_189,115_
_189,115_| |||||_1,599,050_| |||||_-_
_1,599,050_
_1,599,050_| The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 11 to 25 form part of these financial statements. Page 9 Docusign Envelope ID: 1CBB674B-84D4-4689-B07E-0A97637B56CC ## **THE ST JOSEPH'S BENWELL CHURCH TRUST** ## **BALANCE SHEET AS AT 31 MARCH 2025** |**2025**
**Note**
**£**
**Fixed assets**
Tangible assets
10
**1,579,596**
**1,579,596**
**Current assets**
Debtors
11
**34,921**
_74,144_
Cash at bank and in hand
**137,728**
_93,458_
**172,649**
_167,602_
**Current liabilities**
Creditors: amounts falling due within one
year
12
**(22,689)**
_(61,719)_
**Net current assets**
**149,960**
**Total assets less current liabilities**
**1,729,556**
Creditors: amounts falling due after more
than one year
13
**(81,290)**
**Net assets excluding pension asset**
**1,648,266**
**Total net assets**
**1,648,266**
**Charity funds**
Restricted funds
14
**-**
Unrestricted funds
14
**1,648,266**
**Total funds**
**1,648,266**
The
financial
statements
were
approved
and
authorised
for
issue
by
the
_________________________________________________and signed on their behalf by:
15-Jan-2026|_2024_
_£_
_1,612,860_
_1,612,860_
_105,883_
_1,718,743_
_(119,693)_
_1,599,050_
_1,599,050_
_5,000_
_1,594,050_
_1,599,050_
Trustees
on| |---|---| ## **Dr Thomas Smyth** The notes on pages 11 to 25 form part of these financial statements. Page 10 Docusign Envelope ID: 1CBB674B-84D4-4689-B07E-0A97637B56CC ## **THE ST JOSEPH'S BENWELL CHURCH TRUST** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **1. General information** The charity is a Charitable Incorporated Organisation (company number CE031407), registered with the Charity Commission in England and Wales (charity number 1201951). The registered office is at The St Joseph's Benwell Church Trust, South Benwell Road, Newcastle upon Tyne, NE15 6JL. ## **2. Accounting policies** ## **2.1 Basis of preparation of financial statements** The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The St Joseph's Benwell Church Trust 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. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. ## **2.2 Going concern** The Charity is considered a going concern and these financial statements are drawn up on the going concern basis. ## **2.3 Income** All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Voluntary income is recognised in the financial statements when it is received, or on an accruals basis where it can be assured with reasonable certainty and is receivable by the balance sheet date. Income tax recoverable on voluntary donations is recognised in the financial statements when it is receivable from HM Revenue and Customs. All other incoming resources are included in the statement of financial activities on a cash received basis or on an accruals basis where they are assured with reasonable certainty and receivable by the balance sheet date. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Page 11 Docusign Envelope ID: 1CBB674B-84D4-4689-B07E-0A97637B56CC ## **THE ST JOSEPH'S BENWELL CHURCH TRUST** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **2. Accounting policies (continued)** ## **2.4 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. ## **2.5 Interest receivable** Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. ## **2.6 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. Page 12 Docusign Envelope ID: 1CBB674B-84D4-4689-B07E-0A97637B56CC ## **THE ST JOSEPH'S BENWELL CHURCH TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **2. Accounting policies (continued)** ## **2.7 Tangible fixed assets and depreciation** Tangible fixed assets are initially recognised at cost. With the exception of a residential property, the treatment of which is set out below, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. The residential property known as Chester Pike is accounted for under the revaluation model. Under this model, the value of the property is carried at a revalued amount, being its fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are made with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the end of the reporting date. Fair values are determined from market-based evidence by appraisal that is normally undertaken by professionally qualified valuers. Gains and losses on revaluation are recognised in the Statement of Financial Activities, with a separate revaluation reserve being shown in the Statement of funds note. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following bases: Freehold property - church - 2.5% Plant and machinery - 25% ## **2.8 Debtors** Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **2.9 Cash at bank and in hand** Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **2.10 Liabilities and provisions** Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Page 13 Docusign Envelope ID: 1CBB674B-84D4-4689-B07E-0A97637B56CC ## **THE ST JOSEPH'S BENWELL CHURCH TRUST** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **2. Accounting policies (continued)** ## **2.11 Financial instruments** The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. ## **2.12 Pensions** The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year. ## **2.13 Fund accounting** General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. ## **3. Income from donations and legacies** |**Unrestricted**
**funds**
**2025**
**£**
**Donations**
Assets donation from The Jesmond Trust
-
Other donations including gift aid
-
-
Donations
443,672
**Subtotal**
443,672
443,672|**Restricted**
**funds**
**2025**
**£**
-
1,250
1,250
-
-
1,250|**Endowment**
**funds**
**2025**
**£**
-
413,672
413,672
(413,672)
(413,672)
-|**Total**
**funds**
**2025**
**£**
**-**
**414,922**
**414,922**| |---|---|---|---| ||||**30,000**
**30,000**
**444,922**| Page 14 Docusign Envelope ID: 1CBB674B-84D4-4689-B07E-0A97637B56CC ## **THE ST JOSEPH'S BENWELL CHURCH TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **3. Income from donations and legacies (continued)** |**Donations**
Assets donation from The Jesmond Trust
Other donations including gift aid
**Subtotal detailed disclosure**
**Subtotal**|_Unrestricted_
_funds_
_2024_
_£_
_-_
_-_
_-_
_1,768,072_
_1,768,072_|_Restricted_
_funds_
_2024_
_£_
_-_
_17,500_
_17,500_
_-_
_17,500_|_Endowment_
_funds_
_2024_
_£_
_1,548,375_
_219,697_
_1,768,072_
_(1,768,072)_
_-_|_Total_
_funds_
_2024_
_£_
_1,548,375_
_237,197_
_1,785,572_| |---|---|---|---|---| |||||_-_
_1,785,572_| ## **4. Donation of net assets from The Jesmond Trust** During the prior period, the net assets and liabilities of St Joseph's Church were transferred into this new Charitable Incorporated Organisation from The Jesmond Trust (a registered charity). The value of net assets received is dealt with in these financial statements as a donation from The Jesmond Trust and comprises the following:- |Church and other land and buildings
Other fixed assets
Current assets|**2025**
**£**
**-**
**-**
**-**
**-**|_2024_
_£_
_1,497,758_
_14,614_
_36,003_
_1,548,375_| |---|---|---| Page 15 Docusign Envelope ID: 1CBB674B-84D4-4689-B07E-0A97637B56CC ## **THE ST JOSEPH'S BENWELL CHURCH TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **5. Income from charitable activities** |**Unrestricted**
**funds**
**2025**
**£**
Fellowship and discipleship
3,320
Church services
-
Youth and children
6,628
9,948|**Total**
**funds**
**2025**
**£**
**3,320**
**-**
**6,628**
**9,948**|_Total_
_funds_
_2024_
_£_
_835_
_525_
_983_
_2,343_| |---|---|---| ## **6. Analysis of expenditure by activities** |Outreach and evangelism
Fellowship and discipleship
Partnership
Church services
Youth and children
Property|**Activities**
**undertaken**
**directly**
**2025**
**£**
52,894
69,557
7,978
47,581
39,161
77,353
294,524|**Support**
**costs**
**2025**
**£**
26,236
36,787
4,703
22,084
16,312
5,792
111,914|**Total**
**funds**
**2025**
**£**
**79,130**
**106,344**
**12,681**
**69,665**
**55,473**
**83,145**
**406,438**| |---|---|---|---| Page 16 Docusign Envelope ID: 1CBB674B-84D4-4689-B07E-0A97637B56CC ## **THE ST JOSEPH'S BENWELL CHURCH TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **6. Analysis of expenditure by activities (continued)** |Outreach and evangelism
Fellowship and discipleship
Partnership
Church services
Youth and children
Property
**Analysis of direct costs**
Staff costs
Depreciation
Rent and rates
Repairs & renewals - Church building
Energy costs
Insurance
Office and administration costs
Charitable activities direct costs|_Activities_
_undertaken_
_directly_
_2024_
_£_
_16,893_
_21,302_
_2,574_
_14,589_
_9,408_
_88,926_
_153,692_|_Support_
_costs_
_2024_
_£_
_7,392_
_12,216_
_1,287_
_7,144_
_5,279_
_2,105_
_35,423_
**Total**
**funds**
**2025**
**£**
**193,130**
**33,264**
**1,920**
**18,650**
**4,604**
**5,332**
**13,583**
**24,041**
**294,524**|_Total_
_funds_
_2024_
_£_
_24,285_
_33,518_
_3,861_
_21,733_
_14,687_
_91,031_
_189,115_| |---|---|---|---| ||||_Total_
_funds_
_2024_
_£_
_58,088_
_33,265_
_571_
_41,276_
_7,065_
_1,512_
_5,237_
_6,678_
_153,692_| Page 17 Docusign Envelope ID: 1CBB674B-84D4-4689-B07E-0A97637B56CC ## **THE ST JOSEPH'S BENWELL CHURCH TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **6. Analysis of expenditure by activities (continued)** ## **Analysis of support costs** |Staff costs
Rent and rates
Repairs & renewals - Church building
Accountancy and audit fees
Professional fees
Insurance
Trustee expenses
Office and administration costs
Other staff costs
Mortgage interest
Interest and charges|**Total**
**funds**
**2025**
**£**
**48,286**
**267**
**5,118**
**6,780**
**1,168**
**407**
**3,014**
**25,824**
**14,703**
**6,246**
**101**
**111,914**|_Total_
_funds_
_2024_
_£_
_14,222_
_64_
_110_
_8,423_
_908_
_(82)_
_8_
_6,414_
_3,259_
_2,013_
_84_
_35,423_| |---|---|---| ## **7. Independent examiner's remuneration** ||**2025**|_2024_| |---|---|---| ||**£**|_£_| |Fees payable to the Charity's independent examiner for the independent||| |examination of the Charity's annual accounts (2024: Fees payable to the||| |auditor for the audit of the Charity's annual accounts)|**2,100**|_4,700_| ## **8. Staff costs** |Wages and salaries
Social security costs
Contribution to defined contribution pension schemes|**2025**
**£**
**157,795**
**49,324**
**34,297**
**241,416**|_2024_
_£_
_64,396_
_539_
_7,375_| |---|---|---| |||_72,310_| Page 18 Docusign Envelope ID: 1CBB674B-84D4-4689-B07E-0A97637B56CC ## **THE ST JOSEPH'S BENWELL CHURCH TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **8. Staff costs (continued)** The average number of persons employed by the Charity during the year was as follows: ||**2025**|_2024_| |---|---|---| ||**No.**|_No._| |Activities of church|**9**|_8_| No employee received remuneration amounting to more than £60,000 in either year. ## **9. Trustees' remuneration and expenses** During the period, one Trustee has been paid remuneration from an employment with the Charity. The remuneration is in respect of his role as senior minister of the church. The legal authority for this remuneration is within the governing document of the charitable incorporated organisation. The value of Trustees' remuneration was as follows: |||**2025**|_2024_| |---|---|---|---| |||**£**|_£_| |K J Matthews|Remuneration|**30,638**|_7,712_| ||Pension contributions paid|**6,128**|_1,786_| During the year ended 31 March 2025, no Trustee expenses have been incurred _(2024 - £NIL)_ . Page 19 Docusign Envelope ID: 1CBB674B-84D4-4689-B07E-0A97637B56CC ## **THE ST JOSEPH'S BENWELL CHURCH TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **10. Tangible fixed assets** |**Cost or valuation**
At 1 April 2024
At 31 March 2025
**Depreciation**
At 1 April 2024
Charge for the year
At 31 March 2025
**Net book value**
At 31 March 2025
_At 31 March 2024_|**Freehold**
**property**
**£**
**1,631,511**
**1,631,511**
**29,611**
**29,611**
**59,222**
**1,572,289**
_1,601,900_|**Plant and**
**machinery**
**£**
**14,614**
**14,614**
**3,654**
**3,653**
**7,307**
**7,307**
_10,960_|**Total**
**£**
**1,646,125**
**1,646,125**| |---|---|---|---| ||||**33,265**
**33,264**
**66,529**| ||||**1,579,596**| ||||_1,612,860_| Freehold property comprises the Church land and buildings, and the property at Chester Pike. The Church is valued at cost which is determined by the value at which the church was transferred to the charity in 2023. The net book value of the Church at 31 March 2025 is £1,362,104 (2024: £1,391,715). The Trustees have adopted the fair value method of accounting for the property at Chester Pike. The value of the Chester Pike property at 31 March 2025 is £210,185 (2024: £210,185), equivalent to the cost at the date of acquisition, no material change in value occuring between the acquisition date and the year end date. ## **11. Debtors** |**Due within one year**
Amounts owed by The Jesmond Trust
Other debtors
Prepayments and accrued income
Gift aid recoverable|**2025**
**£**
**-**
**9,116**
**7,334**
**18,471**
**34,921**|_2024_
_£_
_40,930_
_60_
_6,909_
_26,245_
_74,144_| |---|---|---| Page 20 Docusign Envelope ID: 1CBB674B-84D4-4689-B07E-0A97637B56CC ## **THE ST JOSEPH'S BENWELL CHURCH TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **12. Creditors: Amounts falling due within one year** |Bank loans
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income|**2025**
**£**
**8,230**
**1,255**
**3,571**
**2,645**
**6,988**
**22,689**|_2024_
_£_
_9,272_
_28,063_
_3,705_
_2,453_
_18,226_| |---|---|---| |||_61,719_| Accruals and deferred income includes deferred income of £1,248 (2024: £Nil). This relates to income received in respect of 'Big Weekend 2025' and 'Super Saturday 2025'. ## **13. Creditors: Amounts falling due after more than one year** ||**2025**|_2024_| |---|---|---| ||**£**|_£_| |Bank loans|**81,290**|_119,693_| A mortgage for £142,000 was taken out in the prior period in respect of the Chester Pike property. The mortgage was repayable over 25 years with a variable interest rate which is currently 6.15%. The aggregate amount of liabilities payable or repayable wholly or in part more than five years after the reporting date is bank loans of £44,978 (2024: £107,606). Page 21 Docusign Envelope ID: 1CBB674B-84D4-4689-B07E-0A97637B56CC ## **THE ST JOSEPH'S BENWELL CHURCH TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **14. Statement of funds** ## **Statement of funds - current year** |**Unrestricted funds**
Income fund
Capital Fund
**Restricted funds**
Mortgage repayment fund
**Total of funds**|**Balance at 1**
**April 2024**
**£**
**(18,810)**
**1,612,860**
**1,594,050**
**5,000**
**1,599,050**|**Income**
**£**
**454,404**
**-**
**454,404**
**1,250**
**455,654**|**Expenditure**
**£**
**(366,924)**
**(33,264)**
**(400,188)**
**(6,250)**
**(406,438)**|**Balance at**
**31 March**
**2025**
**£**
**68,670**
**1,579,596**
**1,648,266**| |---|---|---|---|---| |||||**-**| |||||**1,648,266**| The purpose of the funds held is as set out below:- Unrestricted income funds represent the general funds available to the charity for its future objectives. Unrestricted capital funds hold the fixed assets of the charity. Transfers to this fund from the income fund are in respect of purchases of fixed assets in the period. Restricted mortgage repayment fund was a donation received that may only be applied to paying off the mortgage held by the charity. Transfers from this fund to unrestricted income funds represent the balance utilised by the charity in making additional mortgage repayments in the year. Page 22 Docusign Envelope ID: 1CBB674B-84D4-4689-B07E-0A97637B56CC ## **THE ST JOSEPH'S BENWELL CHURCH TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **14. Statement of funds (continued)** ## **Statement of funds - prior year** |**Unrestricted funds**
Income fund
Capital Fund
**Restricted funds**
Mortgage repayment fund
**Total of funds**
**Summary of funds**
**Summary of funds - current year**
General funds
Restricted funds|_Income_
_£_
_258,293_
_1,512,372_
_1,770,665_
_17,500_
_1,788,165_
**Balance at 1**
**April 2024**
**£**
**1,594,050**
**5,000**
**1,599,050**|_Expenditure_
_£_
_(155,850)_
_(33,265)_
_(189,115)_
_-_
_(189,115)_
**Income**
**£**
**454,404**
**1,250**
**455,654**|_Transfers_
_in/out_
_£_
_(121,253)_
_133,753_
_12,500_
_(12,500)_
_-_
**Expenditure**
**£**
**(400,188)**
**(6,250)**
**(406,438)**|_Balance at_
_31 March_
_2024_
_£_
_(18,810)_
_1,612,860_
_1,594,050_
_5,000_
_1,599,050_
**Balance at**
**31 March**
**2025**
**£**
**1,648,266**
**-**
**1,648,266**| |---|---|---|---|---| ## **15. Summary of funds** Page 23 Docusign Envelope ID: 1CBB674B-84D4-4689-B07E-0A97637B56CC ## **THE ST JOSEPH'S BENWELL CHURCH TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **15. Summary of funds (continued)** **Summary of funds - prior year** |General funds
Restricted funds|_Income_
_£_
_1,770,665_
_17,500_
_1,788,165_|_Expenditure_
_£_
_(189,115)_
_-_
_(189,115)_|_Transfers_
_in/out_
_£_
_12,500_
_(12,500)_
_-_|_Balance at_
_31 March_
_2024_
_£_
_1,594,050_
_5,000_
_1,599,050_| |---|---|---|---|---| ## **16. Analysis of net assets between funds** ## **Analysis of net assets between funds - current year** |**Unrestricted**
**funds**
**2025**
**£**
Tangible fixed assets
1,579,596
Current assets
172,649
Creditors due within one year
(22,689)
Creditors due in more than one year
(81,290)
**Total**
1,648,266|**Total**
**funds**
**2025**
**£**
**1,579,596**
**172,649**
**(22,689)**
**(81,290)**
**1,648,266**| |---|---| ## **Analysis of net assets between funds - prior year** |Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
**Total**|_Unrestricted_
_funds_
_2024_
_£_
_-_
_-_
_-_
_-_
_-_|_Restricted_
_funds_
_2024_
_£_
_-_
_5,000_
_-_
_-_
_5,000_|_Endowment_
_funds_
_2024_
_£_
_1,612,860_
_162,602_
_(61,719)_
_(119,693)_
_1,594,050_|_Total_
_funds_
_2024_
_£_
_1,612,860_
_167,602_
_(61,719)_
_(119,693)_
_1,599,050_| |---|---|---|---|---| Page 24 Docusign Envelope ID: 1CBB674B-84D4-4689-B07E-0A97637B56CC ## **THE ST JOSEPH'S BENWELL CHURCH TRUST** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **17. Pension commitments** The CIO operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable to the fund and amounted to £34,299 (2024: £7,375). The pension payable to the fund at the balance sheet date and included in other creditors is £2,645 (2024: £2,453). ## **18. Related party transactions** The CIO received donations from Trustees and their related parties totalling £35,456 (2024: £18,645). In the prior year £5,000 of those donations were restricted, apart from that, no other donations carried any restriction or obligation. The CIO has not entered into a related party transaction as that in the prior year which is detailed in note 4, 'Donation of net assets from The Jesmond Trust'. Note 9 details expense transactions with regards Trustees' Remuneration and expenses. As at the year end the CIO was owed £603 (included in other debtors) (2024: £40,930) from The Jesmond Trust. Page 25