Charity registration number 241112 FIRST CHURCH OF CHRIST, SCIENTIST, NEWCASTLE UPON TYNE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
FIRST CHURCH OF CHRIST, SCIENTIST, NEWCASTLE UPON TYNE LEGAL AND ADMINISTRATIVE INFORMATION Exg¢Utlvg board and trustoes Dorothy Plummer Hugh Plummer Mrs W Peters IAppointed 1 December 20231 IAppointed 1 December 20231 IAppointed 1 December 20231 Ms C Mccanls Mr C Churnside Charlty number 241112 Principal address 18 Lansdowne Terrace North Road Gosforth Newcastle Upon Tyne Tyne and Wear NE31HP President Roger Peters Clerk Dorothy Plummer Treasurer Roger Peters
FIRST CHURCH OF CHRIST, SCIENTIST, NEWCASTLE UPON TYNE CONTENTS Pagg Trustees. report Independent examinerfs report Statement of financial activities Balance sheet Notes to the financial statements 6-12
FIRST CHURCH OF CHRIST, SCIENTIST, NEWCASTLE UPON TYNE TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their report and financial statements for the year ended 31 March 2024. The financial slalemènts have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Church's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities". Slalemenl of Recommended Practice applicable lo charities preparing their accounts in a¢cordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191" ObJectlves and actlvltles The object of the Church is to demonstrate and publicly present the Truth as set forth in the Bible and interpreted by Mary Baker Eddy, the Discoverer and Founder of Christian Science in her book 'Saence and Health wth Key to the Scriptures,. The main activities of the Church are as follows.. To hold Sunday Services. To hold Wednesday evening Testimony meetings. To hold a Sunday School for pupils up lo the age of 20. To maintain a Reading Room and Library for the study and sale of Christian Science literature. All of the above activities with the exception of member meetings, are open to the general public and are free. Achigvemènts and p&rfomian¢e Our Church ServIS and Sunday h0o1 classes for pupils up lo 20 years old have been held every Sunday morning, and a testimony meeting every Wednesday evening throughout the yèar. These wère held In the church building, and the services and evening mettlings were also available online via Zoom, which was much appreciated by those who find attending difficult. All these services and meetings were open lo the public. The Reading Room was open for public use 3 days each week. as well as 2 Saturdays each month. On 15th April a free public lecture on Christian Science entitled 'Finding Trust in a Changing Worfd was held in the church building. The speaker was Lesley Pitts CS, a member of the Christian Science Board of Lectureship. Support was given to other Christian Science activities of care 8nd OutaOh. The church building was maintained as necessary, including gUlar maintenance contracts for the air conditioning. lift, boiler, and fire alarm and extinguishers. A major item was the inslallalion of a safely edge on the lift doors. Flnanclal revlew The reserves of the Church are invested to provide an income to meet the costs of running the Church. The Trustees have 85sessed the major risk5 to which the Charity is exposed and are satisfied that the systems are in place lo miligale exposure to the major risks.
FIRST CHURCH OF CHRIST, SCIENTIST, NEWCASTLE UPON TYNE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Structure. govemance and management The governing document is the Church Bylaws. The Church is constituted by those members whose names are inscribed on the roll of membership. The executive board members are the trustees and are elected by ballot. Their names are included in the annual report provided lo the Charity Commission. The church land Is vested in the Charity Commission's Official Custodian. The trustees who served during the year and up to the dale of signature of the financial statements were.. Naomi Churnside (Resigned 30 November 20231 Roger Peters (Resigned 30 November 20231 Jackie Collins (Resigned 30 November 20231 Dorothy Plummer Hugh Plummer Mrs W Peters Ms C Mccants Mr C Churnside IAppoinled 1 December 2023} IAppoinled 1 December 2023) (Appointed 1 December 2023} There is an annual election meeting held by the Church in which the Trustees and rtain other office holders are elected for the coming year. None of the trustees has any beneficial interest in the company. AJI of the tiuslees are members of the company and guarantee lo contribute £1 In the event of a winding up. The trustees. report was approved by the Board of Trustees. Hugh Plummer Trustee Dated. 9 August 2024
FIRST CHURCH OF CHRIST, SCIENTIST, NEWCASTLE UPON TYNE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FIRST CHURCH OF CHRIST, SCIENTIST, NEWCASTLE UPON TYNE I report to the trustees on my examination of the financial statements of First Church of Christ, Scientist, New¢aslle uw)n Tyne (the Chur¢hl for the year ended 31 Mah 2024. Responslbllltles and basls of report As the trustees of the Church you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 Ithe 2011 Acti. I report in respect of my examination of the Church's financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examinerfs statement Your attention is drawn lo the fact that the charty has prepared financial statements in accordarLe with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reputing Stsndard applicable in the UK and Republic of Ireland IFRS 1021 in preference lo the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. l understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come lo my attention in connection with the examination giving me cause lo believe that In any material respect". accounting records were not kept in respect of the Church 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 conlenl 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 lo which attention should be drawn in this report in order to enable a proper understanding of the financial slalements lo be reached. Joanne Regan FCA Dated". 21 August 2024
FIRST CHURCH OF CHRIST, SCIENTIST, NEWCASTLE UPON TYNE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlcted Unrestrlcted funds funds 2024 2023 Notes Voluntsry income Activities for generating funds Investment income 10.036 2,749 793 8,390 2,436 281 Totsl income 13,578 11,107 Fundraising costs 4,138 4,233 Charitable activities 27.078 23,725 Governance costs 882 3,472 Totsl expenditure 32,098 31,430 Net gainslllossesl on investments 10 28,284 8,213 Net Incomellexpendlturel for th& yearl Net movement in funds 9,764 {12,1101 Fund balances at 1 April 2023 715,699 727,809 Fund balances at 31 March 2024 725.463 715,699 The statement of financial activities indudes all gains and losses recognised in the year. All income and expenditure derive from continuing aclivilies.
FIRST CHURCH OF CHRIST, SCIENTIST, NEWCASTLE UPON TYNE BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes Flxgd assets Tangible assets Investments 12 13 370,181 283,865 372,811 255,581 654,046 628,392 Current assets stocks Debtors Cash at bank and in hand 14 15 1,321 37 70,941 1,214 35 86.898 72,299 88,147 Creditors: amounts falling due within one year 16 18821 18401 Net current assets 71,417 87,307 Total assets less current Ilabllltles 725,483 715,699 In¢om9 funds Unrestricted funds 725,463 715,699 725,463 715,699 The financial statements were approved by the Trustees on 9 August 2024 Hugh Plummer Trustee
FIRST CHURCH OF CHRIST, SCIENTIST, NEWCASTLE UPON TYNE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles Charity infomiation First Church of Christ, Scients'sl. Newcastle upon Tyne is a Public Benefit Entity. 1.1 Accountlny conventlon The financial statements have been prepared in accordance with the Church's governing document, the Charities Act 2011 and 'Accounling and Reporting by Charities.. Slalement of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (effective 1 January 20191" The Church is a Public Benefit Entity as defined by FRS 102. The Church has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Stslemenl of Cash Flows. The financial stslemenls are prepared in sterling, which is the functional currency of the Church. Monetsry amounts in these financial ststemenls are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, Imodified lo include the revaluation of freehold properties and to include investment properties and certain finanryal instruments al fair valuel. The principal a¢¢ounling policies adopted are sel out below. 1.2 Golny concern Al the time of approving the financial slalements, the trustees have a reasonable expectation that the Church has adequate resources lo continue in operational existence for the foreseeable future. Thus the Iruslees continue to adopt the going concern basis of accounting In preparing the financial stalemenls. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Reslricled funds are subject lo specific conditions by donors as to how they may be used. The purwses and uses of the restricted funds are set out in the notes to the financial slatemenls. Endowment funds are subjed lo specific Conditions by donors that the Capital rnusl be maintained by the Church. 1.4 Income Income is recognised when the Church is legally enlided to it after any performan conditions have been met, the amounts can be measured reliably, and it is probable that income wll be received. Cash donats.ons are recognised on receipt. Other donations are recognised On the Church has been notified of the donation, unless performance conditions require deferral of the amount. Income lax recoverable in relation to donations received under GiftAid or deeds of covenant is recognised at the lime of the donation.
FIRST CHURCH OF CHRIST, SCIENTIST, NEWCASTLE UPON TYNE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 A¢¢ounllng poll¢lg$ Icontlnugdl 1.$ Expanditurg Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, It is probable that a transfer of economic benefi15 will be required in selllemenl, and the amount of the obligation can be measured reliably. Expenditure is classified by aclivily. The Costs of each activity are made up of the lolal ol direct costs and shared costs. including support costs involved in undertaking each activity. Direct Costs attribulatrje lo a single activity are allocated diredy to that activity. Shared costs which contribute to more than one ath'vily and support costs which are not attributable to a single activity are appDrtioned between those activities 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. Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Trust lo that expenditure, il is probable that settlement will be required and the amount of the obligation can be measured reliably. The policy for including items within the fijndraising and charitable activities is on an accrual basis. Charitable activities comprise of expenditure associated with promoting the teachings of the Church and include both the direct costs and costs of Indirect nature necessary lo support such activities. Govemance costs include those costs associated with meeting the conslilutional and statutory requirements of the Charity and include the independent examination fees. 1.6 Tangible fixed assets Tangible fixed assets are initially measured al cost and subsequently measured al cost or valuation, nel of depreciation and any impaimient losses. Depreaation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Freehold land and buildings Organ Computers Refurbishment 100h reducing balan 10% reducing balance 1Ok reducing balance The gain or loss arising on the disposal of an asset is delgrmined as the difference beeen the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Fixed asset investments Fixed asset investments are initially measured at transaction price exduding transaction Costs, and are subsequently measured at fair value al each reporting dale. Changes in fair value are recognised in net inme1(eXpenditLjreI for the year. Transaction costs are expensed as incurred. 1.8 Impairment of fixed assets Al each reporting end dale, the Church reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such IndatIOn exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss lif any).
FIRST CHURCH OF CHRIST, SCIENTIST, NEWCASTLE UPON TYNE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 A¢¢ounllng poll¢lg$ Icontlnugdl 1.9 Stocks Stocks are slated at the lower of cost and eslimaled selling price less costs to Cornplete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks lo their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost. Nel realisable value 15 the eslimaled Selling price less all estimated costs of eomplelion and costs to be incurred in marketing. selling and distribution. Voluntary In¢omg unre$trled Unrestricted funds funds 2024 2023 Church and Sunday School Gift Aid Tax on GiftAid Donations Disclaimed honoraria 2,152 4,791 1,261 500 1,332 2,304 4,107 1,147 832 10,036 8,390 Actlvllles for generatlng funds Unrestrlcted Unrestricted funds funds 2024 2023 Reading Room sales 2,749 2,436
FIRST CHURCH OF CHRIST, SCIENTIST, NEWCASTLE UPON TYNE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Investment Income Unrestricted Unrestricted funds ftjnds 2024 2023 Barclays Premium Virgin Money account 189 604 114 167 793 281 Fundraising costs Unrestricted Unrestricted funds funds 2024 2023 Reading room purchases 4,138 4,233 4.138 4,233
FIRST CHURCH OF CHRIST, SCIENTIST, NEWCASTLE UPON TYNE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charltable actlvltles Costs of Costs of generating generating voluntary voluntary Incomg Incom& 2024 2023 Church and Reading Room honoraria Music honoraria Cleanerfs wages Heat and light Donations Quarterlies Church, Sunday School 4,000 1,575 1,709 2,989 3,623 816 4,000 1,700 1,814 1,851 3,247 749 F 11 Insurance Lecture expenses Water rates Maintenance Other sundries Telephone Depreciation 1,294 1,992 256 3,569 1,343 1,282 2,630 1,183 1,930 248 1,768 1,496 1,065 2,674 27,078 23,725 27,078 23,725 Trustees None of the trustees lor any persons connected with them) reiVed any remuneration or benefits from the Church during the year. Employees The average monthly number of employees during the year was.. 2024 Number 2023 Number Total Employment costs 2024 2023 Wages and salaries 7,284 7,514 10-
FIRST CHURCH OF CHRIST, SCIENTIST, NEWCASTLE UPON TYNE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Governance costs Unrestricted Unrestricted funds ftjnds 2024 2023 Accountancy fees Legal and professional fees 882 840 2,632 882 3,472 10 Net gainslllossesl on investments Unrestrlctad Unrestricted funds funds 2024 2023 Gainlllossl on investments 28,284 8,213 11 Taxation The charity is exempl from lax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxalionof Chargeable GainsAcl 1992 to the extent that these are applied to its charitable objects. 12 Tangible fixed assets Freehold land and buildings Organ ComputersRefurbi5hment Total Cost At 1 April 2023 125,000 1,419 2,095 266,728 395,242 Al 31 March 2024 125,000 1,419 2,095 266,728 395,242 Depreciation and Impalrment Al 1 April 2023 Depreaalion charged in the year 808 61 1,017 108 20,606 2,461 22,431 2,630 Al 31 March 2024 869 1,125 23,067 25.061 Carrylng amount At 31 March 2024 125,000 550 970 243,661 370,181 Al 31 March 2023 125,000 611 1,078 246,122 372,811 Buildings ownèd are deemed lo have a residual value at lèast equal lo cost.
FIRST CHURCH OF CHRIST, SCIENTIST, NEWCASTLE UPON TYNE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Flxe(l asset Investments Listèd investments Cost or valuatlon Al 1 April 2023 Additions 255,581 28,284 Al 31 March 2024 283,865 Carrying amount Al 31 March 2024 283,865 Al 31 March 2023 255,581 14 Stocks 2024 2023 Reading room stock 1,321 1,214 15 Debtors 2024 2023 Amounts falling due within one year: Prepayments and accrued income 37 35 16 Creditors: amounts falling due within one year 2024 2023 Accruals and deferred income 882 840 17 Related party transactions There were no disclosable related paty transactions during the year12023- none). 12-