Charity re9istratlon number 239015 First Church Of Christ, Sclentist, Altrlncham Annual Report and unaudited Financial Statements For the year ended 31 December 2023
FIRST CHURCH OF CHRIST, SCIENTIsf, ALTRINCHAM Legal and adminSstrative information Trustees There are no trustees Char5ty number 239015 Prlncipal address 55 Ashley Road Altrincham Cheshire WA14 2LS Independent examiner DIH Business Advisers Lrmited Bridge House Ashley Road Hale Altrincham WA14 2LIT 8ank¢rs Barclays Bank PIC 48150 George Street Altrincham Cheshire WA14 IRH Investment advisors James Brearley & Sons Unit 6 The Gallery Fumess Avenue Fonnby MerseysKle L37 3NP
FIRST CHURCH OF CHRIST, SCIENTIST, ALTRINCHAM Contents Page Trustees. report Statefflent of TnJstse5' responsibilities Independent examinerfs report Statement of financial activities Balance sheet Note5 to the financial statements 7-15
FIRST CHURCH OF CHRIST. SCIENTIST, ALTRINCHAM Trustees, report FOR THE YEAR ENDED 31 DECEMBER 2023 Following the death of the final trnstee the tmst currenuy exists with no trustee5 and therefore the trustees report and trustees responsibilities have been presented by the President, Lucille Haire. Throughout these financial statements any ference to the 'trustee' or 'trustees' should be considered a5 exchanged with 'President'. The trustees present their annual report and financial statements fijr the year ended 31 December 2023. The financial statements have been prepared in accordante with the accounting policie5 set out in note I to the finanoal statements and comply wilh the charity's governing document. the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Prattlce applicable to charities preparing their accounts in accordance with the Finantial Reporting Standard applicable in the UK and Republic of Ireland (Fks 102) (effective l January 2019)". Objactivas and actlvltie5 The objective of the charity is for the generdl purpose of a church and provision of a reading room, for the public benefit. The trustees have paid due regard to guidan issued by the Charity Commission in deciding what activities the charlty should undertake. Acknvities of the The church held it's annual Thanksgiving Service on 25th November 2023, The church members did not sponsor a free public talk on Christian Stients in 2023 nor hold its annual Christrllas Celebrations. The church malntains a Christian Science reading room on the church premises with facilities for study of the Bible, the Christian Science text book. "Soence and Heaffth with Key to the Scriptures. by Mary Baker Eddy and other Christian Science literature. These items may ats be borrowed or purchased. A wam welcome is extended to the public to attend churth service5 and to make use of the rea¢Jing room and lending library. In July 2022, with a three yr grant from the Vlestmlnster Fund for thi5 purpose, the churth started the employment librarian to manage the Reading Room. 2023 was the first full year for this Librnrian. There were none glven in 2023. due to the costs invofved in staffing the reading room. Achievements and performance As noted above, 2023 was the first full year with an employed librnrian for the churth's Reèdin9 Room. As noted 10, the church's income was less than its expenditure. Flnan¢lal revlew The charity had excess expendtture over income of £4,727 during the year in regard to its charitable ctivitie5. This is due to the electricty rate quadrupling at the beginning of the year. A change of meter type In 2023 has brought a much reduced rate. The investments decreased in the year by £1,056. The church ha5 one restrirted fund. being a provision of soloists from a legacy in 2014 of £2,000. The church has kept suffKient funds for the next finanaal year, to meet the needs of the charity and its statutDry obligations.
FIRST CHURCH OF CHRIST, SCIENTIST, ALTRINCHAM Trustees. report (continued) FOR THE YEAR ENDED 31 DECEMBER 2023 eserv It is the policy of the charity that unrestricted funds whlth have not t)een designated for a specific use should be maintained at a level equivalent to between th and six month'5 expenditure. The trustee5 considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activttie5 while consideration is given to ways in which additional fvnds may be raised. This level of reserves has been maintained throughout the year. At 31 December 2023 the charity'5 level of free unrestritted reserves, exclud4ng the church building was £56,292 and restricted reserves were £2,000 which is considered sufficient in accordance with the charity's reserves poliry. ana en The trustees have assessed the major risk5 to which the charity is exposefj. and are satisfied that Sy5terns are in place to mitigate exposure to the major risks. Structurel governance and management First Church of Christ, Scientist. Altrincham is a branch of The Mother Church, The First Church of Christ Scientist in Boston, Massachusetts. The charity was established under a trust deed date(129 April 1924. The tharity's constitsjtion and by- laws were revised in 1972. 1974. 1982. 1984, 2004, 2005, 2010 and 2014. The church was registered s a charity on 8th April 1965. There is a subsidiary charrty. number 239015-1, being the trust property at i Peter Street. Altrincham which was sold in December 2015. The trustees who served during the year were: K Mason (Resigned l January 2024) K N Harvey K Vernon (Appointed l January 2023 and resigned l January 2024) M Whlttaker (Appointed l January 2023 and resigned l January 2024) (Appointed l January 2023 and deceased 21 February 2024} other key offir5 who Served during the year were: Clerk K N Harvey Treasurer S N 8readey President First reader L Haire (Appointed l January 2022) - A rota of deputy readers Second reader - J Hudson The trustee5 who hold the deed to the property are S N Brearley. K Harvey* K Ma50n & S NicholsDn. f re itment and intm ntof Trustees are elerted from the members of the thurch and introduced into the role and responsibilities of being a trustee. The Trustees, report was approved by the Board of Trustees. L Haire President Dated:
First Church Of Christ, Scientist. Altrincham Statement of trustees. responsibilities For the year ended 31 December 2023 The trustees are responsible for preparing the Trustees. Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standard5 {United Kingdom Generally Accepted Accounting Pratticel. The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each finanthal year which give a true and fair view of the state of affairs of the charity and of the Incoming resources and application of resourtts of the charity for that year. In preparing these financial statements, the trustees are required to: - selett suitable accounting policies and then apply them consistentty: observe the methods and principles in the Charities SORP.. rnake judgements and estimates that are reasonable and prudent. state whether applicable accounting standards have been followed, Subject to any material departures discknsed and explained In the financial statements.- and prepare the financial statements on the going concern bas unless it Is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping suffKient accounting records that disclose with reasonable accuracy at any time the financial po5rtion of the charity and enable them to ensure that the financial Statements comply with the Charities Art 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 chority and hence for taking reasonable steps for the pventIon and detettion of frdud and other irregularities.
FIRST CHURCH OF CHRIST, SCIENTIST, ALTRINCHAM Independent examiner's report TO THE TRUSTEES OF FIRST CHURCH OF CHRIST, SCIENTIST, ALTRINCHAM I report to the trustees on my examination of the financial statements of First Church Of Christ, Scientist, Altrincham (the charity) for the year ended 31 December 2023. Responsibilities and basls of report As the trustees of the charity you are spOnSible for the preparation of the financial statements in accordance with the requirements of the Charities Att 2011 {the 2011 Art). I report in respect of my examination of the charity's finanoal statements carried out under sertion 145 of the 2011 Art. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Att. Zndependent examiner's Statement 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 materral respect.. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or the financial statements do 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 {Accounts and Reports) RegulatTrons 2008 other than any requirement that the accounts give a true and fair view which is not a matter considereil 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 dWrt in this report in order to enable a proper understanding of the financial statements to be reached. Candice Beynon FCCA DJH Business Advisers Limited Chartered Accountsnts Bridge House Ashley Road Hale Altrincham WA14 2UT Dated:
FIRsf CHURCH OF CHRIST, SCIENTIST, ALTRINCHAM staternent of flnancial activities including income and expenditure account FOR THE YEAR ENDED 31 DECEMBER 2023 Unrostrlrted Restrfctsd fund5 funds 2023 2023 Totsl lJnrestrl(ted Restrlrted funds funds 2022 2022 Totsl 2023 2022 Notes Donations and legacies Charitable activities Investments 24.953 9.768 1.$33 24,953 9,768 1.533 12,948 10.102 1,403 12,948 10.102 1.403 Total Income 36,254 36.254 24,453 24,453 Charitable activities 40.981 40,981 36,222 36,222 Net gains/{105ses) on investrnents 12 (1.0561 (1.0561 (8,398) 18,398) Net movenlent in funds 15.783) (5.783) {20,1671 {20.167) Fund balan5 at l January 2023 677.075 2.000 679,075 697,242 2.(10 699,242 Fund balances at 31 December 2023 671,292 673.292 677.075 2,000 679.075 The statement of financial acbvities includes all gains and losses recognised in the year. The statement of financial attivities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activiti"e5.
FIRST CHURCH OF CHRIST, SCIENTIST, ALTRINCHAM Balance sheet AS AT 31 DECEMBER 2023 2023 2022 Notes Flxed assets Tangible assets InvestrnentS 13 14 615,00 52,488 615,0(Kl 58,544 667.488 673,544 Current assets Debtors Cash at bank and in hand 15 4.836 3,848 5,784 11.520 9,632 CredFtors: amounts falling due wlthln one year 16 15,716) (4,101) Net current assets 5.531 Total assets less current liabilities 673.292 679,075 Income funds Restricted fund5 Unrestricted funds 17 2,iN)O 671,292 2.000 677,075 673,292 679,07S The financial Statements were approved on . a/ L Haire President
FIRST CHURCH OF CHRIST, SCIENTIST, ALTRINCHAM Notes to the financlal statements FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies Charlty inforrnatlon First Church of Christ Scientist is a charity established under trust deed. 1.1 Accounting convention The financial statements have been prepared in accordance with the thartty'5 Igoveming documentj, the Charitie5 Act 2011. FR5 102 -The Financial Reporting Standard applicable in the UK and Republic of Ireland" (°FRS 102-) and the Charities SORP -Accounting and Reporting by Charities= Statement of Recommended Prdctice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Rewbllc of Ireland (FRS 102}" {effettive I January 2019). The charity is a Public Benefft Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements are prepared in sterllng, which 15 the funttional currency of the charlty. Nonetary amounts in these financial statements are rounded to the nearest £. The accounts have been prepared under the historical cost convention. modified to include the revaluation of freehold properties and to indude investment properties and certain financlal instruments at fair value. The principal accountong policies adopted are Set out below. 1.2 Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate $OurCeS to continue in operational existence for the foreseeable future. Thu5 the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charltable funds unStriCted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are Set out in the notes to the financial statements. All funds are unrestricted funds, other than a donation received In 2014 of £2.000, for the provision of soloists. 1.4 Incoming resources Income is recognised when the tharity is legally entiued to it after any performance conéitlons have been met, the amounts can be rneasured lIably1 and it is probable that income will be received. Cash donations are recognised on rePt. Other donation5 are recognised once the chartty ha5 been notified of the donation. unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations reiVed vnder Gift Aid or deeds Df covenant is recognised at the time of the donation. Legacies are recogni5ed on receipt or otherwise if the charity has been notifi of an irnpending distribution, the amount is known. and receipt is expected. If the amount is not known, the legacy is treated as a contingent asseL
FIRST CHURCH OF CHRIST, SCIENTIST, ALTRINCHAM Notes to the financlal statements (continued) FOR THE YEAR ENDED 31 DECEMBER 2023 A¢countlng policies (Continued) 1.5 Resour expended Expenditure is recognised once the is a legal or construrtive obfigation to transfer economic benefit to a third party. it is probable that a transfer of economic benefits will be requId in settlement, and the 43mount of the obligation can be rneasured reliabty. Expendrture is classified by activity. The costs of each attivity are made up of the total of dirett costs and shared costs, including support costs involved in undertaking each activity. Dirert costs attributable to a single activty are allocated directly to that activity. Shared costs which contribute to more thatt one activity and support costs which are not attributable to a single activity are apportioned between those activib.es on a basis consistent with the use of resources. Central staff Costs are allocated on the basis of time spent. and depreciation charges are allocated on the portion of the asset's use. Resources expended are accounted for when pa. Expenditu is attributed to cost categories based on the amount expended during the year. The irrecoverable element of VAT is included with the item of expenses to which it relate5. Support costs are those functions that assist the work of the tharity iKJt do not directly undertake charitable activities. Support costs include office costs, finan, personnel. payroll and govemance costs which support the charity's attivities. The bases on which support costs have been allocated are set out in note 8. 1.6 Tangible flxed assets Tangible fixed assets are initialty measured at cost and subsequentty measured at cost or valuation, net of depreciatlon and any impairment losses. Freehold property and assets in the course of construttton are not depreciated. The galn or loss arising on the disposal of an asset is detemiined a5 the difference between the sale proceeds and the carrying value of the asset. and 15 recognised in the ststement of financial artlvities. 1.7 Fixed asset investments Fixed asset investments are initially measured at transaction prKe exduding transartion costs, and are subsequently measured at fair value at eath reporting dats. Changes in fair value are recogni5ed in net incomellexpenditure) for the year. Transattion costs are expensed as incurred. 1.8 Impalrment of fixed assets At each reporting end date. the charity reviews the carrying amounts of its tanglble assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if anv). 1.9 Cash and equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
FIRST CHURCH OF CHRIST, SCIENTIST, ALTRINCHAM Notes to the financial statements (continued) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng polldes (Contlnued) 1.10 Financlal Instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Secbon 12 '0ther Financial Instruments IUes. of FRS 102 to all of its financial instruments. Financial instruments are CogniSed in the thartty's balance sheet when the charity becomes party to the contrattual provlslons of the instrument. Financial assets and liabilities are offset. with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net bags or to realise the asset and settle the liability simultaneously. 8asl¢ financial assets Basic financial assets, which Indude debtors and cash and bank balan. a inltially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction. where the transartlon is measured at the present valve of the future receipts discounted at a market rate of interest. Financial assets classified as receivable wthin one year are not amortised. 8asic finandal Ilabillties Basic financial liabilitie5, induding credfcors and bank loans are initially recognised at transattion price unless the arrangement constitutes a finanong tran58cbon, where the debt instrument is measured at the present value of the future payments discounted at a market rate of InteresL Flnancial liabilitoes dassifted as payable within one year are nut amortised. Debt instruments a subsequently carried at amortised cost. using the effective interest rate method. Trade creditors are obligation5 to pay for good5 or services that have been acquired in the ordinary course of operdtions from sUpprerS. Amounts payabIe are da55rfied as cUrnt liabilities if payment is due within one year or less. If not, they are presented as non-current liabllities. Trade creditors are recognised initially at transartion prits and subsequenuy measured at amort15ed cost using the effective interest method. D•rncognJtlon of financial liabilltles Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or canlled. 1.11 Employee benefits The cost of any unuseil holiday entitlement is cOgnised in the period in which the employee's Services are received. Temiination benefits are recognised immediately as an expense when the charSty Is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
FIRsf CHURCH OF CHRIST, SCIENTIST, ALTRINCHAM Notes to the financial statements (continued) FOR THE YEAR ENDED 31 DECEMBER 2023 Critlcal accountlng estimates and judgements In the application of the charity's accounting policies. the trustees are requireé to make judgements. estimates and assurnptions about the carying amount of assets and liabiltties that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other fartors that are considered to be levaftt. Actual results may differ from these estirnates. The estimates and underfying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates a recogni5e¢ in the period in which the estimate is revised where the Vision affects only that period, or in the period of the revision and ftItU periL*Js where the revision affects both current and future periods. Income from donatlons and legacies Unrestricted Unrestrlrted luDds funds 2023 2022 Donation5 and gifts Grants 12,753 12,200 7,298 5,650 24.953 12,948 Donations and glfts General donations 12,753 7,298 12,753 7,298 Income from charitable actlvltles funds 2023 fvnd$ 2022 Church collections Reading room sales 8.652 1,116 9.50S 596 9,768 10,102 io-
FIRsf CHURCH OF CHRIST, SCIENTIsf, ALTRINCHAM Notes to the financial statements (contlnued) FOR THE YEAR ENDED 31 DECEMBER 2023 Income from investments Vnre5trlctsd ilnrestrlthd fvnd5 funds 2023 2022 Income from listed investments 1,533 1,403 Net movement in funds 2023 2022 The rtet movement In fijnds is stated after Charging1(Credng). Trustees None of the trustees (or any persons connected with them} received any remuneration or benefits from the charity during the current or prior year. No trustees expenses were incurred during the current or prior year. Charitable activitles 2023 2022 Reading room Church maintenan Church artiviknes Church administration 1,837 14,364 1,479 11,009 2.570 10,641 6.758 22.959 25,699 Share of support costs (see note 9) Share of govemance costs (see note 9) 16,272 1.750 8,832 1,691 40,981 36.222 li
FIRST CHURCH OF CHRIST, SCIENTIST, ALTRINCHAM Notes to the financlal ststements (continued) FOR THE YEAR ENDED 31 DECEMBER 2023 Support costs 2023 2022 Basis of allocatlon Church administration Wages attributable to the adminisiratFve support staff 16,272 16.272 8,832 AccountanLry Independent examination fee 1,350 1.350 1,330 Governance Governan 361 16.272 1.750 18.022 10.523 10 Employees Number of employees The average monthly number of employees during the year was: 2023 Number 2022 Number Church administration All ernployee time was spent providing either support to the governance of the charity or support seNices to charwtable activities. No employee received emoluments of more than £60,000 during the year. The following staff costs, included within charitable act¢vitFes, were Incur during the year.. 2023 2022 Wage5 and salaries 16.272 8,832 11 Taxatlon The charity is exempt from taxation on its aciivities because all its IncDme is applied for charitable purposes. 12 Net gain$/(l¢eS} on Investments 2023 2022 Revaluation of investments 11.0561 18,3981 12-
FIRST CHURCH OF CHRIST, SCIENTIsf, ALTRINCHAM Notes to the financial statements (contlnued) FOR THE YEAR ENDED 31 DECEMBER 2023 12 hlet galns/(losses) on Investments (Continuad) 13 Tangible flxed assets Freehold property Cost At l January 2023 615,000 At 31 Dember 2023 615,WO Carrylng amount At 31 December 2023 615,0(X) At 31 December 2022 615,000 Freehold property consists of the church buildings at 55 Ashley Road. Altrincham, valued by Thomas Willrnax MIted in July 2021. The valuation at 31 December 2023 is not expected to be significantly dlfferent, therefore this value has 1)een used at the balance sl*et date. 14 Fixed asset Investments Investments Cost or valuatlon At 31 December 2022 Valuats'on changes 58,544 16,056) At 31 Dember 2023 52,488 Carrying amount At 31 December 2023 52,488 At 31 December 2022 58,544 By the trust deed, the investments a not subjert to the limttstions of the Trustees Investment Act. 13-
FIRST CHURCH OF CHRIST, SCIENTIsf, ALTRINCHAM Notes to the financial statements (continued) FOR THE YEAR ENDED 31 DECEMBER 2023 15 Debtors 2023 2022 AmOnts falllng due withln one year. Trade debtors Prepayments and accrued income 4,836 2,426 1,422 4,836 3,84B 16 CredStors: amounts falling due wlthin one year 2023 2022 Other taxation and social secunty Trade creditors Accruals and deferred income 350 3,966 1.750 2,071 1.680 5,716 4.101 17 Restrlct•d lunds The re5trirted funds of the charity comprise the unexpended balances of donations ané grants held on trust subject to specific condltions by donors as to how they may be used. At l january 2023 At31 December 2023 2.000 2.000 Prevlous year: At l January 2022 At31 DeCemr 2022 2,1KlO 2,000 14-
FIRST CHURCH OF CHRIST, SCIENTIST, ALTRINCHAM Notes to the financial statements (continued) FOR THE YEAR ENDED 31 DECEMBER 2023 18 Unrestrl¢ted funds The unrestrirted funds of the charity comprise the unexpended balances of donations and grants which are not subjett to specific conditi.ons by donors and grantors as to how they may be used. These include designated fvnds which have been set aside out of unrestricted funds by the trustees for specific purposes. At l January incomln9 Resour¢eg 2023 resources expended Ins and losses At31 December 2023 General funds 677.075 36.254 {40,981) (1,056) 671,292 Previous year. At l January 2022 Incomlng Resources expended Galns and losses At31 Decemb•r 2022 General funds 697.242 24,453 (36,2221 IB,398) 677,075 19 Analysi5 of net assets between funds Unre5tr1rt•d Restrlct•d Totsl Fund balaF)ces at 31 December 2023 are represented by.. Tangible assets Investments Current assetsllliabilities) 615,(K*J 52,48B 615,000 52,488 5.804 671,292 2,QOO 673,292 20 Related party transxtions There were no disdosable related party transactions during the turrent or prior year. 15-