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2024-12-31-accounts

ALL SAINTS CHURCH EXETER TRUSTEES’ ANNUAL REPORT AND ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2024

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ALL SAINTS CHURCH EXETER CHARITY INFORMATION FOR THE PERIOD ENDED 31 DECEMBER 2024

TRUSTEES

Paul Sutton (chair) Geoffrey Hanna George Meredith (until 31 May 2024) Deiniol Williams (from 26 May 2024)

GOVERNING DOCUMENT

Constitution dated 4 March 2024, revised 20 August 2024

Charity Registration number 1207286

PRINCIPAL ADDRESS

27 Barnardo Road, Exeter EX2 4ND

INDEPENDENT EXAMINER

David Tolhurst FCA 11 Lilley Walk Honiton Devon EX14 2EA

BANKERS

Lloyds Bank

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ALL SAINTS CHURCH EXETER TRUSTEES’ ANNUAL REPORT FOR THE PERIOD ENDED 31 DECEMBER 2024

The trustees are pleased to present the Report and Accounts for the past year.

TRUSTEES

All Saints Church Exeter was registered as a CIO with the Charity Commission on 4 March 2024.

Paul Sutton (chair, appointed 4 March 2024)

Geoffrey Hanna (appointed 4 March 2024)

George Meredith (appointed 4 March 2024, resigned 31 May 2024)

Deiniol Williams (appointed 26 May 2024)

OBJECTIVES

The charity is a charitable incorporated organisation (CIO) and is governed by its constitution. The object of the CIO, as set out in the governing document, is:

The advancement of the Christian faith, for the benefit of the public, in such ways as the charity trustees shall from time to time decide.

In decisions related to the activities of the charity the trustees have had regard to the Charity Commission’s guidance on public benefit.

ACTIVITIES AND ACHIEVEMENTS

During the year the CIO was set up, fundraising to begin church activities was initiated, our application to become a church plant of the International Presbyterian Church was approved, and in August we conducted our first ‘trial’ services before our first public Sunday services began in September.

We began our gatherings at St Sidwell’s C of E Primary School with around 60 adults and 20 children, and a number of new families, individuals and university students have joined the congregation since then. We secured a five-year lease on a building in Market Street, renovated this space and began using it in December 2024. Alongside Sunday worship, we also conducted midweek meetings for prayer, fellowship and instruction, first at St Sidwell’s C of E Primary School and latterly in our new building on Market Street.

The charity’s activities have benefited the public by encouraging and strengthening the Christian faith of those who attend public worship gatherings and other meetings, and by seeking to reach out with the Christian gospel to the general public.

FINANCIAL REVIEW

Income for the year on all funds was £172,282, and expenditure on all funds was £50,438, resulting in an overall surplus of £121,844.

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The CIO adopted a reserves policy in June 2025, setting aside £27,000 out of this surplus (three months’ average expenses) as cash reserves.

On the basis of the income and expenditure position at the end of 2024, and with due regard to the budget and forecasts for 2025, the trustees regard the CIO as a going concern and assume that the CIO will continue in operation for the foreseeable future.

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STRUCTURE, GOVERNANCE AND MANAGEMENT

All Saints Church Exeter is constituted as a Charitable Incorporated Organisation (CIO), regulated by the Charity Commission for England and Wales (CC). The CIO was registered with the CC on 4 March 2024, and the CIO’s constitution was revised on 20 August 2024 to reflect the fact that the church for which the CIO exists is now a church plant of the International Presbyterian Church.

The methods for appointing new trustees are set out in clauses 9 and 10 of the CIO constitution. The Trustees have overall responsibility for the activities of the Trust. New elder trustees are appointed effective from their date of ordination, installation or licencing to this church as elders by the First IPC Presbytery of the United Kingdom, which is a CIO registered number 1114788. Charity trustees who are not Elders may be appointed by a resolution passed at a properly convened meeting of the charity trustees, provided that such appointment does not result in such non-elder trustees constituting more than 50% of the trustees. During 2024 George Meredith resigned as a trustee on 31 May 2024, and Deiniol Williams was appointed as a trustee on 26 May.

During the year the trustees met on several occasions to monitor the progress of the new church and make decisions concerning its future.

FUTURE PLANS AND RISKS

The CIO will continue in its commitment to advance the Christian faith through the ordinary means provided for the church: the proclamation of the word of God, prayer, and living faithful Christian lives. Now that the basic necessities are in place for the church to function – a location for activities, legal and financial provisions – we plan to introduce further activities to encourage and instruct the church and to witness to the world.

We are grateful for significant one-off financial gifts to enable the CIO to rent and refurbish 19 Market Street, Exeter EX1 1BW; as well as presenting many opportunities, this highlights certain risks:

RESPONSIBILITIES OF TRUSTEES UNDER CHARITY LAW

The trustees are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charity as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing these financial statements, the trustees are required to:

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The trustees are responsible for keeping proper accounting records that 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 and the Charity (Accounts and Reports) Regulations 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.

APPROVAL AND SIGNATURE

The annual report was approved by the trustees and were signed on the CIO’s behalf by:

Paul Sutton 14 August 2025

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ALL SAINTS CHURCH EXETER STATEMENT OF FINANCIAL ACTIVITIES

FOR THE PERIOD ENDED 31 DECEMBER 2024

Notes Unrestricted Restricted Endowment Total
Income from:
Donations 3 153,962 18,000 - 171,962
Investment income 320 - - 320
Total Income 154,282 18,000 - 172,282
Expenditure on:
Charitable activities 4 32,438 18,000 - 50,438
Total Expenses 32,438 18,000 - 50,438
Net Resource Movement 121,844 - - 121,844
Net Movement in Funds 121,844 - - 121,844
Total Funds Brought Forward - - - -
Total Funds Carried Forward 121,844 - - 121,844

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derives from continuing operations.

The notes on pages 9–14 form part of these accounts.

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ALL SAINTS CHURCH EXETER BALANCE SHEET AS AT 31 DECEMBER 2024

Fixed Assets Notes
Tangible Assets 6 73,197
Current Assets
Debtors 7 5,357
Cash at Bank and in Hand 8 50,335
Creditors
Amounts falling within one year 9 (7,045)
Net Assets 121,844
Funds and Reserves
Designated Fund: Fixed Assets 73,197
General Funds 48,647
Total Unrestricted Funds 121,844
Funds Provided 121,844

The notes on pages 9–14 form part of these accounts

APPROVAL AND SIGNATURE

The financial statements were approved by the trustees and were signed on the CIO’s behalf by:

Paul Sutton 14 August 2025

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ALL SAINTS CHURCH EXETER NOTES TO THE ACCOUNTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

The charity is a charitable incorporated organisation registered with the Charity Commission in England & Wales. The charity’s registered number and principal address can be found on page 2.

2. ACCOUNTING POLICIES

These financial statements are prepared on a going concern basis, under the historical cost convention.

These financial statements have been prepared in accordance with the “Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (“the Charities SORP”), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (“FRS 102”) and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.

The charity’s accounts were prepared on an accruals basis.

The principles adopted in the preparation of the financial statements are as follows:

a. Going concern

The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity’s forecasts and projections and the possible implications should projected income and or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

b. Income

Income, including investment income, is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.

Income from donations and legacies includes recoverable Gift Aid. This is recognised when the related donation is received. Gift aid that has not been recovered by the balance sheet date is included as a debtor.

Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity’s charitable objects.

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c. Expenditure

Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.

d. 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. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects. Endowment funds are donations that are retained as capital in accordance with the donor’s wishes. The nature of the restriction determines whether the endowments represent permanent endowments or expendable endowments.

e. Tangible fixed assets

Items purchased or donated for the charity’s own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £1,000 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective depreciation is charged over 3-5 years or, in the case of leasehold improvements, over the remaining lease term.

f. Pension scheme arrangements

The charity operates a defined contribution pension scheme for its employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds.

g. Taxation

The charity has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity’s income.

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3. DONATIONS

Income from donations
Regular giving
One-off giving
External grants
Gift Aid reclaimed
Total donations		 Unrestricted
Restricted
Endowment
Total
42,278
0
0
42,278
85,500
0
0
85,500
0
18,000
0
18,000
26,184
0
0
26,184
153,962
18,000
0
171,962

In 2024 we received donations from two local charities restricted to staff costs (£9,000) and housing (£9,000). Besides donations, the CIO also received £320 of bank interest, so the total unrestricted income for 2024 was £172,282.

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4. EXPENDITURE

a. Costs incurred directly on charitable activities
Minister stipend including pension
Minister housing costs including council tax
Sunday services
Venue costs
Insurance
Training and conferences
Publicity, communications and ministry resources
Miscellaneous expenses
Total activities cost
b. Costs incurred on support and administration
General administration
Subscriptions and professional fees
Total support and administration cost
c. Costs incurred on 19 Market Street
Sundry expenses
Professional fees
Total Market Street costs
d. Grants made
Grant to IPC
Total grants made
e. Other costs
Depreciation
Total other costs
Total expenditure		 2024
14,072
9,890
67
11,349
732
466
177
61
36,814
328
705
1,033
2,484
5,418
7,902
4,279
4,279
410
410
50,438

Restricted donations (Note 3) received in the year were applied to minister stipend (£9,000) and minister housing costs (£9,000).

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5. STAFF COSTS, KEY MANAGEMENT PERSONNEL AND TRUSTEE REMUNERATION

Gross stipend/salary
Pension
Other employment benefits
Total staff costs		 13,125
947
0
14,072

The average monthly number of employees during the year was 1. Many of the charity’s activities are carried out by volunteers.

No staff received salaries at a rate of more than £60,000 in the period. Paul Sutton served as minister from 1 August 2024 and received the above payments for serving in that capacity, not for serving as trustee; these payments are permitted by the charity’s governing document. In addition, the charity incurred expenditure totalling £9,890 in respect of the customary provision of accommodation to Paul Sutton, who is a trustee, so that he could better perform his duties.

6. FIXED ASSETS

Cost
Additions
As at 31 December 2024
Depreciation
Charge for the period
As at 31 December 2024
Net Book Value
As at 31 December 2024
7. DEBTORS
Gift aid tax owing
Total debtors as at 31 December 2024
8. CASH AT BANK AND IN HAND
Cash at bank with immediate access
Cash at hand
Total cash as at 31 December 2024		 Leasehold
improvements
Furniture
Equipment
Total
54,692
13,533
5,382
73,607
54,692
13,533
5,382
73,607
-
56
354
410
-
56
354
410
54,692
13,477
3,248
73,197
5,357
5,357
50,335
0
50,335

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9. CREDITORS

Accruals
Taxation and social security
Other creditors
Total creditors as at 31 December 2024		 5,460
1,396
189
7,045

10. OPERATING LEASE COMMITMENTS

The church has operating leases for the church’s building and the minister’s housing. The minimum amount payable (until the next break clause and ignoring the potential effect of future rent reviews) in respect of these leases is as follows:

leases is as follows:
Minister’s housing (27 Barnardo Road)
Church building (19 Market Street)
Total operating lease commitments		 Within 1 year
1–5 years
After 5 years
12,600
0
0
25,000
91,108
0
37,600
91,108
0

11. TRANSACTIONS WITH RELATED PARTIES

During the year the charity received donations totalling £19,965 from related parties (which includes trustees, any other members of key management and anyone closely connected to them).

No expenses were paid to the trustees in connection with their work as trustees.

12. RECONCILIATION OF OPENING AND CLOSING FUNDS

Opening Balance
Income
Expenditure
Transfers
Closing Balance		 Unrestricted
Funds
Restricted
Funds
Total
Funds
-
-
-
154,282
18,000
172,282
(32,438)
(18,000)
(50,438)
-
-
121,844
-
121,844

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ALL SAINTS CHURCH EXETER

A CIO REGISTERED CHARITY NO. 1207286

Independent Examiner's Report to the Trustees of All Saints Church Exeter

I report on the accounts of the charity for the year ended 31 December 2024 which are set out on pages 1 to 2 of CC16a.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner's report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

  1. which gives me reasonable cause to believe that, in any material respect, the requirements:

  2. to keep accounting records in accordance with section 130 of the 2011 Act; and

  3. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act

have not been met; or

  1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

David Tolhurst FCA

11 Lilley Walk Honiton Devon EX14 2EA

Date: 24 August 2025

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