REGISTERED CHARITY NUMBER: 1203160
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024
FOR
GOLDINGS CHURCH
Cobbin Floyd Ltd Chartered Accountants 15a Station Road Epping Essex CM16 4HG
GOLDINGS CHURCH
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 8 |
| Detailed Statement of Financial Activities | 9 |
GOLDINGS CHURCH
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024
The trustees present their report with the financial statements of the charity for the year ended 31st December 2024. The trustees have adopted the provisions of 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).
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number 1203160
Principal address
Goldings Church Englands Lane Loughton Essex IG10 2QX
Trustees
J Sandy C Holt M Luxford S Fell J Roe
Independent Examiner
Cobbin Floyd Ltd Chartered Accountants 15a Station Road Epping Essex CM16 4HG
Approved by order of the board of trustees on 9th May 2025 and signed on its behalf by:
J Sandy - Trustee
Page 1
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GOLDINGS CHURCH
Independent examiner's report to the trustees of Goldings Church
I report to the charity trustees on my examination of the accounts of Goldings Church (the Trust) for the year ended 31st December 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
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:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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.
Natalie Floyd ACA
Cobbin Floyd Ltd Chartered Accountants 15a Station Road Epping Essex CM16 4HG
9th May 2025
Page 2
GOLDINGS CHURCH
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 97,017 Investment income 2 160 Total 97,177 EXPENDITURE ON Charitable activities General 107,197 Net gains on investments 499,900 NET INCOME 489,880 RECONCILIATION OF FUNDS Total funds brought forward 37,894 TOTAL FUNDS CARRIED FORWARD 527,774 |
Restricted funds £ 6,691 - 6,691 - - 6,691 701 7,392 |
2024 Total funds £ 103,708 160 103,868 107,197 499,900 496,571 38,595 535,166 |
2023 Total funds £ 115,098 59 |
|---|---|---|---|
| 115,157 | |||
| 100,041 | |||
| - | |||
| 15,116 23,479 |
|||
| 38,595 |
The notes form part of these financial statements
Page 3
GOLDINGS CHURCH
BALANCE SHEET
31ST DECEMBER 2024
| Notes FIXED ASSETS Tangible assets 4 CURRENT ASSETS Debtors 5 Cash at bank CREDITORS Amounts falling due within one year 6 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 8 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted fund £ 500,000 4,145 24,136 28,281 (507) 27,774 527,774 527,774 |
Restricted funds £ - - 7,392 7,392 - 7,392 7,392 7,392 |
2024 Total funds £ 500,000 4,145 31,528 35,673 (507) 35,166 535,166 535,166 527,774 7,392 535,166 |
2023 Total funds £ - 640 38,438 39,078 (483) 38,595 38,595 38,595 37,894 701 38,595 |
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 9th May 2025 and were signed on its behalf by:
J Sandy - Trustee
The notes form part of these financial statements
Page 4
GOLDINGS CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
Page 5
GOLDINGS CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2024
2. INVESTMENT INCOME
| 2024 £ Bank interest received 160 3. TRUSTEES' REMUNERATION AND BENEFITS 2024 £ Trustees' salaries 36,645 There were trustees' expenses of £8,432 paid for the year ended 31st December 2024 and £6,585 ended 31st December 2023.. 4. TANGIBLE FIXED ASSETS COST Additions NET BOOK VALUE At 31st December 2024 At 31st December 2023 5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 £ Other debtors 4,145 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 £ Taxation and social security 231 Other creditors 276 507 7. LOANS An analysis of the maturity of loans is given below: 2024 £ Amounts falling due within one year on demand: Other loans (250) |
2023 £ 59 2023 £ 36,570 for the y Freehold property £ 500,000 500,000 - 2023 £ 640 2023 £ 231 252 483 2023 £ (250) |
|---|---|
There were trustees' expenses of £8,432 paid for the year ended 31st December 2024 and £6,585 for the year ended 31st December 2023..
continued...
Page 6
GOLDINGS CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2024
8. MOVEMENT IN FUNDS
| Unrestricted funds General fund Restricted funds Deaf fund Missionary Church Kitchen Refurbishment TOTAL FUNDS Net movement in funds, included in the above are as Unrestricted funds General fund Restricted funds Church Kitchen Refurbishment TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Restricted funds Deaf fund Missionary TOTAL FUNDS |
follows: Incoming resources £ 97,177 6,691 103,868 |
At 1.1.24 £ 37,894 261 440 - 701 38,595 Resources expended £ (107,197) - (107,197) At 1.1.23 £ 22,778 261 440 701 23,479 |
Net movement At in funds 31.12.24 £ £ 489,880 527,774 - 261 - 440 6,691 6,691 6,691 7,392 496,571 535,166 Gains and Movement losses in funds £ £ 499,900 489,880 - 6,691 499,900 496,571 Net movement At in funds 31.12.23 £ £ 15,116 37,894 - 261 - 440 - 701 15,116 38,595 |
At 31.12.24 £ 527,774 261 440 6,691 |
At 31.12.24 £ 527,774 261 440 6,691 |
|---|---|---|---|---|---|
| 7,392 | |||||
| 535,166 | |||||
| 496,571 | |||||
| At 31.12.23 £ 37,894 261 440 701 38,595 |
|||||
| 701 | |||||
| 38,595 |
continued...
Page 7
GOLDINGS CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2024
8. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 115,157 115,157 |
Resources Movement expended in funds £ £ (100,041) 15,116 (100,041) 15,116 |
|---|---|---|
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st December 2024.
Page 8
GOLDINGS CHURCH
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024
| INCOME AND ENDOWMENTS Donations and legacies Donations Gift aid Investment income Bank interest received Total incoming resources EXPENDITURE Charitable activities Pakistan teachers Events Donations Support costs Management Trustees' salaries Pensions Rates and water Insurance Light and heat Telephone Postage and stationery Sundries Books, journals and publications Travel expenses Repairs and renewals Subscriptions Legal and professional Governance costs Accountancy Total resources expended Net (expenditure)/income |
2024 £ 102,988 720 103,708 160 103,868 11,978 800 5,499 18,277 36,645 1,095 460 1,493 2,380 720 1,000 4,703 191 3,423 32,852 1,020 2,422 88,404 516 107,197 (3,329) |
2023 £ 115,098 - |
|---|---|---|
| 115,098 59 |
||
| 115,157 10,500 1,131 5,577 |
||
| 17,208 36,570 1,095 532 1,463 5,055 1,773 228 244 60 3,571 30,978 442 330 |
||
| 82,341 492 |
||
| 100,041 | ||
| 15,116 |
This page does not form part of the statutory financial statements
Page 9