CHARtrY REGisfRATIQN NUMBER: 1205060 IPSWICH CHRISTIAN FELLOWSHIP UNAUDITED FINANaAL STATEMENTS PERIOD FROM 4 ocfoBER 2023 TO 31 DECEMBER 2024 IPSWICH CHRISTIAN FELLOWSHIP CONTENTS OF THE FINANaAL sfATEMEKrs PERIOD ENDED 31 DECEMBER 2024 Page Trustees, Annual Report Independent Examiner's Report to the Trustees statement of Financial Activities Statement of Financial PosFtÉon Note5 to the Firbancial Ststements 7-13 IPSWICH CHRISTIAN FELLOWSHIP TRUSTEES, ANNUAL REPORT PERIOD ENDED 31 DECEMBER 2024 The trustees p￿sent their report and the unaudite(l finanaal statements of the charity for the peiiod ended 31 Decernber 2024. Registered tharity name Ipswich Christian Fellowship Charity registrntion number 12051 Principal offrtÈ Kemball Street Gospel Hall 120 Kemball Street Ipswid) Suffolk IP4 SEA The Trustees Mr E Manaytay lappointed 4th October 20231 Mr C Chandler lappointed 4th October 20231 Mrj Reyes {appointed 4th October 20231 Mrj Estanilao lappointed 6th February 20251 Independent Examiner Mr ChristopherTwinn MAAT Twnn Accountants knmited Surf(e 4 East Barton 8ams East Barton Road Great Barton BurySt Edmunds Ssjffolk IP312QY Structure. Governance and Management Ipswich Christian Fellowship is 3 tharitable Incorporated Organisation ICIOI, registered number 1205060 and was incorporated on 4th October 2023. At this time. it r￿1Ve￿ by donation the a55ets of the former unincorporated charity of the same name. Principal artivity The principal actwity of Ipswich Christian Fellowship is the advancement of the evangelical Christian faith in Ipswich. Suffolk, and such other parts of the United Kingdom and the world as the trustees may from time to time decide. This is primarily achieved through regular public worship semces, pastor31 care. prayer meetings, evangelistic outreach. and community engagement. The charity operates from sts base at Kemb311 Street Gospel Hall and aim5 to provide a welcomin& Bible- centred environment for spiritual growth, fellowship. and outreach in the lo(31 communtty. IPSWICH CHRisfiAN FELLOWSHIP TRUSTEES, ANNUAL REPORT PERIOD ENDED 31 DECEMBER 2024 Public benef The trustees have given due conssderation to the Charity Commission's publishe(I guidance on the Public Benefit requirement undei the Charities Act 2011. Actl¥ities durtng 2024 Ipswich Christian Fellowship has continued to be a worshipping Christian presence in the town of Ipswich and the area that surrounds it. We held public services of worship and regular thurch-based activtties throughout the period in pursuance of our charitable objectives. We are pleased to have seen increasing numbers at our Sunday ServI￿S throughout the year. During the period. we have held weekly Sunday worship swwces. weekly prayer meetings, and periodic evanEelistic outreache5. In addition to th￿. we have ensured that we have maintained regular, routine pastoral care with members of the fellowsh5P. Property acquisbtion We are now the legal owners of Kemball Street Gospel Hall. 120 Kemball Street, Ipswich. IP4 SEA having been gifted the property by the Kemball Street Gospel Hall charitable trusL The trarhsfer of ownership happened on 1st October 2024. Planned a¢tivtties for 2025 In 2025. we plan to continue holding weekly Sunday worship Servi￿5. W￿klY prayer meetings, ￿gUlar evangelistic outreaches and ad hoc social events as deemed appropriate. In addition to these athwties we have developed a refurbishment pro8ramme of Kemball Street Gospel Hall which will initially focus on ensurirethat the building is weatherproof and its electrical 5y5tem is up to date. We look forward to welcoming new people from the local communtty to our fellowship. Finantial review Total income of £458,502 was received by way of offerirw and the gift of Xemball Street Gospel Hall. Total expenditure on the operation of the charity was £3.527. The surplus for the period was £454,9751£4.975 e¥duding the property giftl. IPSWICH CHRISTIAN FELLOWSHIP TRUSTEES, ANNUAL REPORT PERIOD ENDED 31 DECEMBER 2024 Fund Summary at 31 December 2024 Fund type General Ifreel reserves Designated property fund 14761 455,451 Total unrestricted furds 454,975 Note: The designated property fund represents the value of Kemball Street Gospel Hall. Although unrestricted in legal terms, it 15 not awailable for general expenditu￿. Reserves poli The trustees. policy is to maintain Teserve5 sufFicient to cover 3pproKim3tely six months of normal operating costs. to ensure the ongoing financial stability of the tharity. Based on Current levels of expenditure. this would equate to reserves of approximately £1,21X). As at 31 December 2024, the chariws free reserves were below this target level. This shortfall arose due to on&off costs assoTrated with the acquisition and legal transfer of Kemball Street Gospel Hall. which we consider to be a strategic and long-temi investment in the charitys mission. The tTUStees are satisfied that the charity remains financially viable and expect reserve5 to rebuild over time through normal operations. A written commitment from a trustee not to tall in a supporting loan until cash flow allows further supports the going COTr￿rn position. The trustees. ann¢tal report was approved on 22nd June 2025 and signed on behalf of the board of trustees bv.. Mr E Manaytay Trustee Ipswich Christian Fellowship Charity number: I205L￿O IPSWICH CHRISTIAN FELLOWSHIP INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF IPSWICH CHRISTIAN FELLOWSHIP PERIOD ENDED 31 DECEMBER 2024 I report to the trustee5 on my examination of the financial statements of Ipswich Christian Fellowship I'the Charity'l for the period ended 31 December 2024. Responsibilities and Basis of Report As the trustees of the Charity. you are responsible for the preparation of the financial statements in accordan￿ with the requrrements of the Charities Act 20111'the Act,). I report in respect of rny examination of the charity's financtal statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed 311 the applicable directions given by the Charity Commission under section 14515llbl of the ACL Independent Examiner's Statement The chariW5 gross income exceeded £250,OCM) and l am qualified to uftdertake the examination by being a qualified member of the Association of Accounting Techniaans IAATI. I have completed my examination. I confirm that no material matter5 have come to my attention in connection with the examination which gives me cause to believe that in any materièl respect: the accounting records weie not kept in accordance with sedion 130 of the Act- or the financial Statements not accord with those records- or the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities IAccounts and Reports) Regulations 2LX)8 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 corne across no other matters in connectton wÉth the examination to which attention should be drawrh in order to enable a propèr understanding of the accounts to be reached. Twinn Accountsnts Ltd Suite 4, East Barton Barns E3St Barton Road Great Barton, Bury St Edmund5 Suffolk IP31 2QY 19th June 2025 IPSWICH CHRISTIAN FELLOWSHIP srATEMEMf OF FINANCIAL AcnvmES PERIOD ENDED 31 DECEMBER 2024 Unrestricted funds 2024 Note Income from: Donations and legacies Charitzble attivities Other income 7,742 760 450,000 Total income 458,502 Expenditure on: Charitable activities 3,527 Total expendtturè 3,527 Net income and movement In funds 454,975 Reconciliation of fvnds- Fund balances at 4 October 2023 Fund balances at 31 December 2024 454,975 The statement of financial activitie5 indudes all gain5 and l(Isses recognised in the period. All income and expenditure derive from continuing actNtiies. IPSWICH CHRISTIAN FELLOWSHIP STATEMENT OF FINANCIAL POSITION PERIOD ENDED 31 DECEMBER 2024 2024 Note Fixed Assets Tangible fixed assets 455,451 Current Assets Debtors Cash at bank and in hand 87 7,255 7,342 CredFtors: amountsfalling due within one year 7.818 Net Currerrt Liabilities 14761 Net Assets 454.975 Funds of the tharity Restricted funds Unrestricted funds 14 454.975 Total charity fvnds 454,975 These financial statements We￿ approved by the board of trustees and authorised for issue on 22nd June 2025. They are signed on behalf of the board by: Mr E Manayiay Trustee The notes on page5 7 to 13 fomi part ofthese financial statements. IPSWICH CHRISTIAN FELLOWSHIP NOTES TO THE FINANCIAL sfATEMENTS PERIOD ENDED 31 DECEMBER 2024 Accounting poliaes Charrty inft>rmation Ipswich Christian Fellowship is a Charitable Incorporated Orgarbisation ICIOI and is reBiStered with the Charity Commission in the United ￿ngdOM. 1.1 Accounting convention The financial statements have been prepared in accordance wtth the charity's constitution, the Charities Act 2011. FRS 102 "The Finanoal Reporting Standard applicable in the UK and RepLtblic of Ireland- I'FRS 102.1 and the Charities SORP 'Accounting and Reporting by Charities= Statement of Recornmended Practice applicable to charities preparing their accounts in 3ccoidance with the F5nancial Reporting Stalldard hpplicable in the UK and Republic of Ireland IFRS 1021- which ￿plaCeS the older SORP referenced Én the Regulations. The charity is a Publi¢ Benefft Enttty as defined by FRS 102. The charity has tsken advantage of the exemption available under FRS 102 Section IA and the Charitiè5 SORP IFRS 1021 not to prepare a Statement of Cash Flows. on the grounds that it is a qualifying small entity. Thè financial statements are prepared in 5terlin& which is the functional currenry of the charity- Monetary amounts in these finanoal statements are rcwjnded to the nearest £. The financial statements have been prepared under the historical cost tonvention, modified to include the rev31uation of freehold properties and to include investment properties and certain instruments at fair value. The principal accounting policies are set out below. 1.2 Going concern The financial statements have beert prepared on a going concern basi5. At the year-end. the charity had net current liabilities of £476. This is primarily due to a loan of £7.5fy) from a trustee. The trustee has confirmed in writing that repayment will not be sought until the charity's cash flow allows, and no earlier than twelve months from the date of approval of these financial statements. The trustees have revièwed forecasts and consider that the chartty has adequate resources to continue in operational existen￿ for the foreseeable fvtU￿. Accordingly, the going con￿rn basis has been adopted. 1.3 Charitable fvnd5 Vnrestrirted funds are available for use at the d￿retIOn of the trustees in frjrtherance of their charitsble objectives. Re5trirted fvnds are subject to speafic condttions by donors or grantors as to how they may be used. At the end of the period. no restrÉtted funds were held by the charity. Endowment funds are subject to specific corbditions by donot5 that the capital must be maintained by the charity. IPSWICH CHRISTIAN FELLOWSHIP NOTES TO THE FINANCIAL STATEMEKrs PERIOD ENDED 31 DECEMBER 2024 1.4 lrtcome Income is recognised when the chartty is legal￿ entttlÈd to it after any perforn)an￿ conditions have been met, the amounts can be rnea5ured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donatiort, unless pèrforn)ance conditions require deferral of the amount. Income tax recoverable in relation to donations receNed under Gift Aid or deeds of covenant is recognised at the tirne of the donation. Legacies are recognised on receipt or othenvise if the charity has been notified of an impending distribution, the amount is known. and reC￿pt is exwed. If the arnount 15 not known, the 1￿c¥ is treated as a contingent asset. 1.5 Expenditure Expenditure is recognised once there 15 8 legal or constructive obliEation to transfer economic benefit to a third party. it 15 probable that a transfer of economK benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is da￿trIed by artiwty. The costs of each activity are made up of the totsl of dirett costs and shared costs. including 5UPPOrt Costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Sh3red costs which contribute to more than one activity and support costs which are not atlributable to a single actsvÈty are apportioned between those activitiès on a basis consistent with the use of resources. 1.6 Tangtble Assets Tangible assets are initialty recorded at cost, and Subsequently stated at cost less any accumulated depreciation and impairment losses. Any tsngible assets carried at revalued amounts are recorded at the fair value at the date of reYJluation less any subsequent accumulated depreciation and subsequent accumulated impairrnent1055e5. An increase in the c8rrying amount of an asset as a ￿5VIt of a reyaluation. is recognised in other recogni5ed gains and 1055es. unless it reverses a charge for impairment that has previously been recogni5ed a5 expenditure within the statement of financial attivities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other re(ognised gains and losse5. except to which it offsets any previous rewdluation gain, in which case the loss is shown within other recognised gains and 1055es on the statement of finanaal attivwtses. IPSWICH CHRISTIAN FELLOWSHIP NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 DECEMBER 2024 1.7 Freehold premise5 Premises whith wère donated to the chartty have been recorded at deemed cost. As the building has been around for many decades, and is expected to be for many more to come, it is not possible to determine the expected useful lrfe of the property. The building is therefore not depreciated, but is subject to regular impairment reviews. 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand. deposits held at call with banks, other short-tèrm liquid investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowing5 in current liabiltties. Basicfinancialo55ets 8asic financial assets. which indude debtors and cash and bank balances. are initially measured at transaction price including transattioft tosts and are subsequently carried at amortised tost Usirig the effertive interest method unless thè 3rranBernent constitutes a financing transaction, wherè the tTan5artion 15 mè35ured at the present value of the future receipts di%countÈd at a tllaTket rate of interest. Financial 355ets classified as rec￿vable wrthin one year are not amortised. Basicfinoncialliabilities Basic financial liabilitiès, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction. where the debt instrument is measured at the present value of the future payments discoL¢nted at a market rate of interest. Financial liabilities classified Bs payable within one year are not amortised. Debt instruments are subsequentty carried at amortised cost. usingthe effertive interest rate method. Trade credttors are obligation5 to pay for goods or 5erwce5 that have been acquired in the ordinary ourse of operations frotn suppliers. Amounts payable are dassified as current liabilities if payment 15 due within tsne year or less. If not. they are presented as nO￿Urrent liabilities. Trade ueditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition oAfinoncial liathlities Financial liabilities are derecogrbised when the cha¥iiVs contractual obligations expire or are discharged or cancelled. IPSWICH CHRIStIAN FELLOWSHIP NOTES TO THE FINANCIAL STATEMEKrs PERIOD ENDED 31 DECEMBER 2024 CrTti¢al ac¢ountlng estsmates and ludgements In the appli¢3tion of the charitvs accounting policie5. the trustee5 are required to make judgement5, estimates and assumptions about the carrying amount of assets and liabilFtie5 that are not readily apparent from other source5. The estimates and associated a55umption5 are based on historital experience and other fattors that are considered to be relevant. Artual results may differ from these estimates. The estimates and underlying assumptions are rÈV￿￿ed on an ongoing basis. Revisions to accounting estimates are re£ognised in the period in which the estimate is revised where the revision affects only that period. or in the period of the revision and ftrture periods where the revision affects both current and future periods. Donations and legacies Unrestricted fvnds 2024 Donations and regular offerings from individuaLs Gifts received from other charities 4,341 3,401 7.742 Income from tharitable a¢tivit Unrestricted funds 2024 Money raised from fvndraising events Hall hire income 430 330 760 io IPSWICH CHRISTIAN FELLOWSHIP NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 DECEMBER 2024 Other income UnrestrScted funds 2024 Gift of prernises 450.000 450,OIMJ Expenditure on charitsble artivities Unrestrirted funds 2024 Premises expenses Ministry costs 3,195 332 3,527 Independent Examination Fees 2024 Fees payable to the independeftt examiner for: Independent examination of the financial statements The indepenilent examiner waived their fee for the period. Trustees None of the trustees lor any person5 connected wtth them) re￿IVed any rèmuneration, benefits or expense reimbursements frorn the d)artty during the period. Employees The charity had no employee5 during the reporting period. and no remuneration was paid to any indiwdual, including trustees, for employment or services rendered. 10 Taxation The charity is exempt from taxation on tts activities because all of its income is applied for charitable purw)ses. li IPSWICH CHRISTIAN FELLOWSHIP NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 31 DECEMBER 2024 11 Tangible f￿ed assets Freehold Property Total At 4 October 2023 Additions 455.451 455.4SI At 31 December 2024 455,451 455,451 Depreciation At 4 October 2023 Charge for the peri¢)d At 31 December 2024 Net book value At 31 December 2024 455.451 455.451 At 4 October 2023 The freehold propertv is held at deemed cost. based on a professional Yaluation dated 26th February 2025, which reflècts its estimated fair value as at the date of trarksfer on l October 2024. 12 Debtor5 2024 Other dèbtors 87 87 13 Creditors: amounts falling due wrthln one year 2024 Other cre(litors Accruals and deferred income 7,500 318 7￿13 12 IPSWICH CHRISTIAN FELLOWSHIP NOTES TO THE FINANCIAL STATEMEKrs PERIOD ENDED 31 DECEMBER 2024 14 Analysis of charitable funds The unrestricted funds of the charrty comprise the unexpended balances of donations and grants whlch are not Subject to specific conditions by donors and grantors a5 to how they may be used. These include designated funds which have been set aside out of unrestrÈtted funds by the trustees for specific purposes. The unrestTieted f¥Jnds of £454.975 at 31 December 2024 are made up as follows: At 4 OctobeT 2023 Incoming Resources expended At 31 D￿mber 2024 General fund lfreel Property fund Idesignatedl" 3,051 455.451 3,527 14761 455.451 Total unreslricted funds 458.502 3,527 454.975 *The property fund represents the value of Kemball Street Gospel Hall, which was gifted to the charity during the year and has been retognised at deemed cost. While it is uniestricted in legal terms, thÈ asset is not readily reali5able and is therefore not av3Èlable to meet day-today operating expenses. The charity held no restritted or endowrnent funds duringthe pèriod. 15 Related party transactions During the period, a truttee provided an intere5t-free loan of £7,500 to the charity to assist with the acquisition of Kemball Street Gospel Hall. The loan was provided on 16 January 2024 and is repayable on demand and only when the charily's L35h flow perniits. The balan￿ outstanding at the year-end was £7,5tM) and this is included in other creditors in note 13 of the financial statements. The loan was made on terms no more favourable than those availableto the charity from commercial sources.