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2025-03-31-accounts

The Salt Co Church (Charity no. 1209356)

Trustees’ Annual Report for the year ended [insert date]31st March 2025

1. Reference and Administrative Details

Charity Name: The Salt Co Church

Registered Charity Number: 1209356

Principal Address: 2 Ashby Road, Sully, CF64 5SH

Trustees:

Independent Examiner:

Stephen Green Chartered Accountants

106a Commercial Street

Risca

Newport

NP11 6EE

2. Structure, Governance and Management

The Salt Co Church is a Charitable Incorporated Organisation (CIO) , governed by its foundation model constitution adopted in November 2023.

The trustees are also the only members of the CIO. Trustees are appointed in accordance with the provisions of the constitution, serving fixed terms, and are responsible for the overall governance and strategic direction of the church.

Day-to-day operations are overseen by Nathan Beaton , who manages church activities on a voluntary and unpaid basis. The trustees meet regularly to review progress, oversee finances, and ensure compliance with safeguarding and charity regulations.

The charity operates with the support of volunteers who contribute to Sunday worship, children’s ministry, worship team, young adults’ group, and community initiatives.

3. Objectives and Activities

The object of The Salt Co Church is:

“To advance the Christian faith in Cardiff and the surrounding areas for the benefit of the public, through the holding of prayer meetings, church services, spiritual guidance and bible classes/studies for adults and children.”

In furtherance of this object, the charity’s main activities during the year included:

4. Public Benefit

The trustees confirm they have had regard to the Charity Commission’s guidance on public benefit.

Our activities advance the Christian faith by:

We serve the wider community by:

Through these activities, The Salt Co Church makes a tangible and positive contribution to public life in Cardiff and the surrounding areas.

5. Achievements and Performance

6. Financial Review

Income during the year came primarily from tithes and donations from members and supporters.

Expenditure was focused on:

The church holds reserves of £26,045.96 , maintained in line with our reserves policy due to the significant ongoing rental commitments.

The trustees operate a strict safeguarding policy , ensuring that children and vulnerable adults are protected during all activities.

The charity remains financially stable, with no investments or borrowings.

7. Plans for Future Periods

Looking ahead, The Salt Co Church plans to:

8. Statement of Trustees’ Responsibilities

The trustees are responsible for preparing the trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards. Charity law

requires the trustees to prepare accounts that give a true and fair view of the charity’s financial activities, and to safeguard the assets of the charity by ensuring proper accounting records are kept and that the charity is run in compliance with its constitution and charity law.

9. Signature

Signed on behalf of the trustees:

Samuel Gibson

Chair & Senior Minister Date: 16.09.2025

The Salt Co.

Financial Accounts Year Ended 31st March 2025

Charity Information

The Salt Co. For the year ended 31 March 2025

Registered Charity Number : 1209356

The trustees in office at 31st March 2025 were:

Mr Samual Gibson Mr Nathan Beaton Mr Jonathan Goode Mrs Susan Lewis

Charity registered office

2 Ashby Road Sully Penarth CF64 5SH

INDEPENDENT EXAMINER'S REPORT

Report to the trustees / members of

THE SALT CO

FOR THE YEAR ENDED 31st MARCH 2025

The report relates to financial statements set out on page 1- 2

Respective responsibilities of trustees and examiner

The 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 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

(under section 145(5)(b) of the Charities Act, and

Basis of independent examiner's report

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. 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 to indicate that:

(1) Accounts have not been kept in accordance with section 386 of the Companies Act 2006

(2) The accounts do not accord with such records.

(3) Where accounts are prepared on an accruals basis, whether they fail to comply with relevant accounting requirements under section 396 of the Companies Act 2006, or are not consistent with the Charities SORP (FRS 102) (4) Any matter which the examiner believes should be drawn to the attention of the reader to gain a proper understanding of the accounts.

Stephen Green Chartered Accountants 106a Commercial Street Risca Newport NP11 6EE

Date: 3rd September 2025

The Salt Co.

Income and Expenditure

For the year ended 31 March 2025

Income
Gift Aided Tithes and Offerings
Gift Aid Small Donations Scheme (GASDS)
Other Revenue - Mission Donations Received
Hamper Fund
Total Income
Expenditure
Rent
IT Software and Consumables
Training - Volunteers
Pastoral Care
Gifting
Travel
Consumables
Refreshments
Storage costs
Kids Consumables
Volunteer DBS and Safeguarding
Training - Marriage
Gifting - Hampers
Event Costs
Bank Fees
Total Expenditure
Surplus / Deficit		 Year End
Year End
2025
2024
34,900.22
23,103.02
1,076.91
1,646.20
1,869.35
20,451.08
128.00
0.00
37,974.48
45,200.30
18,188.00
2,000.00
2,354.55
434.93
2,502.35
722.83
457.47
0.00
1,247.00
1,930.79
738.85
0.00
400.99
589.68
1,455.57
220.37
1,760.00
0.00
763.50
260.85
330.22
361.65
275.78
0.00
428.38
0.00
2,817.26
948.24
30.14
0.00
33,750.06
7,469.34
4,224.42
37,730.96

The Salt Co.

Balance Sheet As at 31st March 2025

Fixed Assets
Tangible Assets
Computer Equipment
Production Equipment
Total Fixed Assets
Current Assets
Cash at bank and in hand
Current Account
Cash Balance
Total Current Assets
Total Assets less Current Liabilities
Net Assets
Capital and Reserves
Current Year Earnings
Retained Earnings
Total Capital and Reserves		 31st March 2025
999.00
14,910.42
15,909.42
25,845.29
200.67
26,045.96
41,955.38
41,955.38
4,224.42
37,730.96
41,955.38		 31st March 2024
999.00
4,296.95
5,295.95
32,435.01
0.00
32,435.01
37,730.96
37,730.96
37,730.96
0.00
37,730.96

Notes to the Accounts

The Salt Co.

For the Year Ended 31st March 2025

ACCOUNTING POLICIES

The following accounting policies have been used consistently in dealing with items which are considered material in relation to the financial statements.

Accounting Convention

The financial statements have been prepared under the historical cost convention other than certain freehold property which is included at valuation. In preparing the financial statements the charity follows best practice as laid down in the Statement of Recommended Practice Accounting and Reporting by Charities (revised 2005) and the Charities Act 1993.

Incoming Resources

Voluntary income is received by way of donations and gifts and is included in incoming resources when these are receivable.

Interest receivable is included when it is received.

Resources Expended

Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of any Value Added Tax which cannot be recovered.

Taxation

As a registered charity the Church benefits from rates relief and is generally exempt from Income Tax and Capital Gains Tax but not from Value Added Tax. Irrecoverable Value Added Tax is included in the cost of those items to which it relates.

Income tax recovered on deeds of covenants and Gift Aid donations are credited to the general unrestricted funds.

Fund Accounting

INDEPENDENT EXAMINER'S REPORT

Report to the trustees / members of

THE SALT CO

FOR THE YEAR ENDED 31st MARCH 2025

The report relates to financial statements set out on page 1- 2

Respective responsibilities of trustees and examiner

The 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 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

(under section 145(5)(b) of the Charities Act, and

Basis of independent examiner's report

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. 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 to indicate that:

(1) Accounts have not been kept in accordance with section 386 of the Companies Act 2006

(2) The accounts do not accord with such records.

(3) Where accounts are prepared on an accruals basis, whether they fail to comply with relevant accounting requirements under section 396 of the Companies Act 2006, or are not consistent with the Charities SORP (FRS 102) (4) Any matter which the examiner believes should be drawn to the attention of the reader to gain a proper understanding of the accounts.

Stephen Green Chartered Accountants 106a Commercial Street Risca Newport NP11 6EE

Date: 3rd September 2025