Charity regtstration number 247545 THAXTED UNITED REFORMED CHURCH ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 THAXTED UNITED REFORMED CHURCH LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mrs. Susan Freeman Rev. ma￿ Hayes Dame Kate Barker Mrs. Julie Bamard Mr. Richard Freeman Secretary Dame Kate Bawker Charlty number 247545 Principal address Bollord St Essex Thaxted CM6 2PY Registered office Bam House Watling lane Thaxted Dunmow England CM6 2QX Auditor Aston Shaw Limited Chartered Certified Accountants Statutory Auditor The Union Building. 51-59 Rose Lane Norwch Norfolk England NR1 1BY THAXTED UNITED REFORMED CHURCH CONTENTS Page Trustees report Statemenl ol trustees responsibilities Independent audrtorfs rèport Slatemenl of finanaal activibes Balance sheel Notes to the financial ststements 8-16 THAXTED UNITED REFORMED CHURCH TRUSTEES REPORT FOR ThIE YEAR ENDED 31 DECEIIBER 2023 narK>al Sblern￿ts and wrtb the ￿NeIr￿ CharthsAL# 2011 and'Attountsw and Repoitw by Charibes.. Statomgnt of Pract￿6 to prep8ring their axounts in ar>*￿8￿￿ with the Finan(xal ReKX)ttrry Stsnd¥d ap￿￿￿OIe in the UK ￿ RepJblK of Ireland (FRS 1021- leifeth* 1 20191 rtharty shoukl ￿ko. Mrs. &s8n Freeman Rev. Mark Hayes Dame Ba￿8￿ Mrs. Julie Bawnard Mr. RKbard FrewAn dme Kate B3rfKer THAXTED UNITED REFORMED CHURCH STATEMENT OF TRUSTEES RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023 The ttustees are responsible for prepanng the Trustees Report and the finanGial statements in accordance with applicable law and United Kingdom Accounting Standards Iunrteil KirwJdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the tnjstees to prepare financial statements for each financial year which give a true and fair v￿W of the stale of affairs of the charity and ol the incoming resources and application of resources ol the charity for that year. In preparing these financial staiements, the trusteés are required to.. select suitable acctsLJnting policies and then apply them cAJnsistentty- - observe the rnethods and principles in the Charities SORP: - rnake judgemen15 and estimates that are reasonable and prudent.. stale whether applicable accounting standards have been folk)wed, subj'ect lo any material departures disch)sed and explained in the finanaal ststements., and prepare the financial statefflents on the going concem basis unless it is inappropriate to presurne Ihat the Gharity will continue in operation. The truslees a￿ responsible for keeping sufficient accountirKJ records thal disdose wth reasonable accuracy at any lime the financial position ol the charity and enable them to ensu￿ that the finanaal statements comply wth the Charities Act 2011. the Charity IAccounts and Reports) Regulations 2008 an¢J the provisions ol the trust deed. They a￿ also resptsn51ble for safeguarding the assets ol the chanty and hence for taking reasonable steps for the prevention and detecbon of fraud and other irregularities. THAXTED UNITED REFORMED CHURCH INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THAXTED UNITED REFORMED CHURCH Opinion We have audited the finanaal slatemenls of Thaxted United Refomed Church (the 'charity'l for the year ended 31 December 2023 which comprise the slalement ol finanaal actTvitr"es, the balance sheet and notes tts the finaneial statements, induding significant accounting policies. The finanoal reporting fratnewotk that has been applied in th￿r prepaolion is applicable law and United Kingdom Accounb"ng Standards. including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ir818nd (Untted Kingdom Generally Accepted Accounting Practir£l. In our opinion. the financial stalernents.. give 8 true and fair view of the state of the charity's affairs as at 31 December 2023 and of its incoming resourTrs and application of resour￿. for the year then ended.. have been properfy prepared in accordance United Kingdom Generally Accepted Accounting Practice- alld have been prepared in accordance wtth the requirements of the chaitti.es Act 2011. Basi$ for opinion We conducted our audit in accordance with lnlemats.onal Standards tsn Auditi"ng IUKI IISAS IUKII and applicable law. Our responsibilib.es under those slar%Jard5 are further described in the Avditorfs tesponsitsililies for the audit of the fin8n¢ial statements section of our ret>ort. We are independent of the charity in accordance with Ihe ethical requirements that are relevant to our audil of the financsal statements in the UK. tncluding the FRC'S Ethical Standard, and we have ftjlfilled our other ethical responsibililies in accordance with these requirements. We believe that the audit evidence we have oblainenthbtJie to more than one activity and support costs which are not 8ttribut8lJe to a single acb'vity are apporboned beiween those activities on a basis consistent wlh the use ol resources. Central staff costs are alk)cated on the basis of time spent. and depreciation charges are allocated on Ihe port￿ ol the asset's use. 1.6 Fixed asset inveslments Fixed asset investments are initialty rneasured at Cl)5t and 5ubséquentfy measured at cost less any accumulated impairment losses. The investrnents are assessed for irnpairment al each reporting dale and any impairment losses or reversals of impaimienl losses are recognised imrnediatety in net incornellexpenditurel for the year. 1.7 Cash and cash equivalents Gash and cash equivalents include cash in hand. deposits held at Call wth banks. other short-tertn liquid investments wth original maturities of three months or less. and bank overdrafts. Bank overdraft5 are shown within borrowtngs in current liabil￿es. 1.8 Financial instruments The charity ha5 elected to apply the provisNMS ol Section 11 '8asic Financial Instrurnents. and SeclK*n 12 'Other Financial Instruments Issues- of FRS 102 tts all ol its financial instruments. Financial instruments are recognised in the charilys balance sheel when the tharity becomes party to the contractual provisions ol the instnjment. Finallcial assets and liabilrties are offset. wth the net amtyjnts p￿sented in the finanual statements. when there is a legally enforceable right to set off Ihe recogni5ed amounts and thefe is an intentitsn to settle on a net basis or to realise the asset and setue the liability sirnultanèously. Basic financlal assets Basic financial assets. which include debiors and Ggsh and bank balances. ar8 Illitial￿ rn8asur8d al transaction pn￿ including transaction costs and are subsequentty carried at amorbsed cost using ihe effective interest melhcxl unless the arrangement consttiutes a finanung transacbon. where the transaction is ea5ured at the present value of the future receipts discounted at a market rate ol interest. Financial assets classilied as receivable wlhin one year are rK)t atnorbsed. BasiG financial liabilities Basi¢ financial liabilities. including creditors and bank k>an5 are initially rectNJnis8d at transaction price unless the arrangement constitutes a financing transaction. where the debt instrument is measured at the present value ol the future payments discounted a¢ a market rale of interest. Financial liabilities classified 85 payable thin one year are not amortised. Debt instrumenls are subsequenuy rarried al amortised cost. using Ihe effective interest Kate meih(xl. Trade ¢￿dItorS are obligations to pay for goods or services that have been acquired in the ordinary course of operab.ons from suppliers. Amounts payable a￿ d3ssified as current liabtlities if payment is due within one year or less. If not. they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequenuy measured at amortised cost using the effective interest method. THAXTED UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Attounting pollcles Icontinued D8r8cognition of financial liabiliti85 Financial liabilities are derecognised when the charity's coniraciual obligations expire or are d*scharged or cancelled. Critical accounting estimates and judgements In the application of the charitys accoEJnting Oiaes. the trustees are required to make judgements, estirnates and assumptions about the carrying amount of assets and liabilibes that are r￿t readily apparent from other sources. The estimates and associated assumpiions are based on historical experience and other factors that are considered to be relevant. Aclual results may differ from Ihese esbmaies. The ests"males 2nd underfying assumplions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in whith the esb.mate is rewsed Whe￿ ¢he revision affects only thal period. (>r in the period of the revision and future peri<)ds Whe￿ the ￿vIsion affects both current and future period5. Other Income Unrestricted Unrestricted funds funds 2023 2022 Donations and gifts 16.179 CollectFoll5 un￿strICted ￿n￿$t￿l¢ted Funds Funds 2023 2022 Cash Covenants 936 6,052 1,412 8,602 6.988 10.014 10 THAXTED UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Income from Church Hire et¢. un￿strICted Unrestricted funds funds 2023 2022 Income from Church Hire- Thaxted Festival Thaxted Flower Club Guildhall Girls Thaxted Singers Gardeners weekend Funer81 Th3Xted Sewer5 Chartes Hey Dunmow Players 600 295 245 1.090 sso 1.735 31K) 390 9(10 450 945 4,125 4,315 Income from Vestry Hire: Bridge Club SWCLP UDC 645 385 1,575 225 2.220 660 Income from Car Park.. Lettings Income from Church Hire Ètc. 6,495 4,975 THAXTED UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Income from investments Unrestricted Unre$tri¢ted funds funds 2023 2022 Weddirws Charifund Units Detx)sit Inteiest 500 2.938 729 4.256 165 4.167 4.421 Other Incom• Unrestricted Unrestricted funds funds 2023 2022 Other receipt 75 Ministerial Expenses Unrestricted Unrestricted funds funds 2023 2022 Maintenance ol the Ministy Pulprt Supplies 12.600 1.156 11,124 575 13,756 11.699 12- THAXTED UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Church Costs Unrestricted Unrestricted Funds Funds 2023 2022 Caretaker & materials Water Rates Electricty Insurance Repairs & rnainlenan Charity donations 620 560 2.832 1,412 4,244 468 6.028 1.989 31,908 300 41.533 9,668 10 Sundry •xpenses Unrestricted un￿StrICted funds funds 2023 2022 Stationery & Photocopying Audit MisTrllaneous Ico Noticéboard 70 1,240 191 35 1.825 40 1,100 900 3.361 2.040 11 Net movement in funds 2023 2022 The net movement in funds is stated after chafgiWlcredth"rrfJl". Fees paYa￿e lor the audil of Ihe charivs finanaal statements 7￿} 700 12 Auditols rèmunèration Fees payable to the charitys auditor and assooates.. 2023 2022 For audit sèrvicès Audit ol the financial siatements of the charity 700 700 13 THAXTED UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 13 Trustees None ol the trustees lor any persons connected with them) received any remuneration or benefits from the charity during the year. 14 Employees The average monthly number of employees during Ihe year was.. 2023 Number 2022 Number Tol81 There were no employee5 whose annual rernUnerati￿ was more Ihan £60,000. Remuneration of key management personnel The remuneration of key management personnel was as follows= 15 Taxation The charity is exempt from taxation on ils actNilies because all its in￿)Me is ap￿led fo¥ Gharitable purposes. 16 Flxed asset investments Equtties Investment Fund for Charhties Charities Official Irbvestrnent Fund Total At Cost At 1 January 2023 Valuation changes 56.866 130.0001 59 56.925 130.0001 At 31 December 2023 26,866 59 26.925 Carying amount At 31 Oecember 2023 26.866 59 26.925 At 31 December 2022 56.866 59 56.925 14- THAXTED UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 16 Fixed asset inves¢ments Icontinuedl Fair value of finan¢ial assets carried at amortised cost Except as detailed below the trustees believe that the caftyng amounts of financial assets carried at amortised cost in the financial statements approximate lo their lair values. Financial assets Carrying amount Farr value 2023 2023 2022 2022 Equities Investrnent Fur￿ for chariti.es Charities Official Investment Fund 26,866 59 31.381 17.424 61.455 192 59 17 Debtors 2023 2022 Amount5 falling due within one year. Prepayments 463 416 18 Creditors: amounts falling duÈ within one year 2023 2022 Accruals and deferred income 700 700 19 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject lo speafic conditions by donors and grantors as to h(w they may be used. These include designated funds which have been set aside oul of unrestricteil fvnds by the trustees for specific purposes. At 1 January 2023 Incoming resources Resources Èxpended Gains and losses At31 December 2023 Legacy Fund R Bennel Legacy Trinity Mead Fund Slebbing U.R.C Memorial Fund General funds 6.178 53.498 4,500 6,178 23.498 4.500 130,(KK)I 16.525 33.979 {58.6501 30,000 21,854 81.542 33.979 158,6501 $6,871 15- THAXTED UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 19 Unrestricted fvnds Icontlnuedl Previous year. At 1 January 2022 In¢oming resOu￿e$ Resources expended Gains and losses At31 December 2022 Legacy Fund R Bennet Legacy Trinity Mead Fund Stebbing U.R.C Memorial Fund General funds 6.178 53.498 4,500 6,178 53.498 4.500 19.938 19.994 123,4071 16,525 84,955 19.994 123.4071 81.542 20 Related party transactions The￿ were no disclosable related party lor￿a¢￿On5 during the year12022- none). 16- Charity regtstration number 247545 THAXTED UNITED REFORMED CHURCH ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 THAXTED UNITED REFORMED CHURCH LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mrs. Susan Freeman Rev. ma￿ Hayes Dame Kate Barker Mrs. Julie Bamard Mr. Richard Freeman Secretary Dame Kate Bawker Charlty number 247545 Principal address Bollord St Essex Thaxted CM6 2PY Registered office Bam House Watling lane Thaxted Dunmow England CM6 2QX Auditor Aston Shaw Limited Chartered Certified Accountants Statutory Auditor The Union Building. 51-59 Rose Lane Norwch Norfolk England NR1 1BY THAXTED UNITED REFORMED CHURCH CONTENTS Page Trustees report Statemenl ol trustees responsibilities Independent audrtorfs rèport Slatemenl of finanaal activibes Balance sheel Notes to the financial ststements 8-16 THAXTED UNITED REFORMED CHURCH TRUSTEES REPORT FOR ThIE YEAR ENDED 31 DECEIIBER 2023 narK>al Sblern￿ts and wrtb the ￿NeIr￿ CharthsAL# 2011 and'Attountsw and Repoitw by Charibes.. Statomgnt of Pract￿6 to prep8ring their axounts in ar>*￿8￿￿ with the Finan(xal ReKX)ttrry Stsnd¥d ap￿￿￿OIe in the UK ￿ RepJblK of Ireland (FRS 1021- leifeth* 1 20191 rtharty shoukl ￿ko. Mrs. &s8n Freeman Rev. Mark Hayes Dame Ba￿8￿ Mrs. Julie Bawnard Mr. RKbard FrewAn dme Kate B3rfKer THAXTED UNITED REFORMED CHURCH STATEMENT OF TRUSTEES RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023 The ttustees are responsible for prepanng the Trustees Report and the finanGial statements in accordance with applicable law and United Kingdom Accounting Standards Iunrteil KirwJdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the tnjstees to prepare financial statements for each financial year which give a true and fair v￿W of the stale of affairs of the charity and ol the incoming resources and application of resources ol the charity for that year. In preparing these financial staiements, the trusteés are required to.. select suitable acctsLJnting policies and then apply them cAJnsistentty- - observe the rnethods and principles in the Charities SORP: - rnake judgemen15 and estimates that are reasonable and prudent.. stale whether applicable accounting standards have been folk)wed, subj'ect lo any material departures disch)sed and explained in the finanaal ststements., and prepare the financial statefflents on the going concem basis unless it is inappropriate to presurne Ihat the Gharity will continue in operation. The truslees a￿ responsible for keeping sufficient accountirKJ records thal disdose wth reasonable accuracy at any lime the financial position ol the charity and enable them to ensu￿ that the finanaal statements comply wth the Charities Act 2011. the Charity IAccounts and Reports) Regulations 2008 an¢J the provisions ol the trust deed. They a￿ also resptsn51ble for safeguarding the assets ol the chanty and hence for taking reasonable steps for the prevention and detecbon of fraud and other irregularities. THAXTED UNITED REFORMED CHURCH INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THAXTED UNITED REFORMED CHURCH Opinion We have audited the finanaal slatemenls of Thaxted United Refomed Church (the 'charity'l for the year ended 31 December 2023 which comprise the slalement ol finanaal actTvitr"es, the balance sheet and notes tts the finaneial statements, induding significant accounting policies. The finanoal reporting fratnewotk that has been applied in th￿r prepaolion is applicable law and United Kingdom Accounb"ng Standards. including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ir818nd (Untted Kingdom Generally Accepted Accounting Practir£l. In our opinion. the financial stalernents.. give 8 true and fair view of the state of the charity's affairs as at 31 December 2023 and of its incoming resourTrs and application of resour￿. for the year then ended.. have been properfy prepared in accordance United Kingdom Generally Accepted Accounting Practice- alld have been prepared in accordance wtth the requirements of the chaitti.es Act 2011. Basi$ for opinion We conducted our audit in accordance with lnlemats.onal Standards tsn Auditi"ng IUKI IISAS IUKII and applicable law. Our responsibilib.es under those slar%Jard5 are further described in the Avditorfs tesponsitsililies for the audit of the fin8n¢ial statements section of our ret>ort. We are independent of the charity in accordance with Ihe ethical requirements that are relevant to our audil of the financsal statements in the UK. tncluding the FRC'S Ethical Standard, and we have ftjlfilled our other ethical responsibililies in accordance with these requirements. We believe that the audit evidence we have oblainenthbtJie to more than one activity and support costs which are not 8ttribut8lJe to a single acb'vity are apporboned beiween those activities on a basis consistent wlh the use ol resources. Central staff costs are alk)cated on the basis of time spent. and depreciation charges are allocated on Ihe port￿ ol the asset's use. 1.6 Fixed asset inveslments Fixed asset investments are initialty rneasured at Cl)5t and 5ubséquentfy measured at cost less any accumulated impairment losses. The investrnents are assessed for irnpairment al each reporting dale and any impairment losses or reversals of impaimienl losses are recognised imrnediatety in net incornellexpenditurel for the year. 1.7 Cash and cash equivalents Gash and cash equivalents include cash in hand. deposits held at Call wth banks. other short-tertn liquid investments wth original maturities of three months or less. and bank overdrafts. Bank overdraft5 are shown within borrowtngs in current liabil￿es. 1.8 Financial instruments The charity ha5 elected to apply the provisNMS ol Section 11 '8asic Financial Instrurnents. and SeclK*n 12 'Other Financial Instruments Issues- of FRS 102 tts all ol its financial instruments. Financial instruments are recognised in the charilys balance sheel when the tharity becomes party to the contractual provisions ol the instnjment. Finallcial assets and liabilrties are offset. wth the net amtyjnts p￿sented in the finanual statements. when there is a legally enforceable right to set off Ihe recogni5ed amounts and thefe is an intentitsn to settle on a net basis or to realise the asset and setue the liability sirnultanèously. Basic financlal assets Basic financial assets. which include debiors and Ggsh and bank balances. ar8 Illitial￿ rn8asur8d al transaction pn￿ including transaction costs and are subsequentty carried at amorbsed cost using ihe effective interest melhcxl unless the arrangement consttiutes a finanung transacbon. where the transaction is ea5ured at the present value of the future receipts discounted at a market rate ol interest. Financial assets classilied as receivable wlhin one year are rK)t atnorbsed. BasiG financial liabilities Basi¢ financial liabilities. including creditors and bank k>an5 are initially rectNJnis8d at transaction price unless the arrangement constitutes a financing transaction. where the debt instrument is measured at the present value ol the future payments discounted a¢ a market rale of interest. Financial liabilities classified 85 payable thin one year are not amortised. Debt instrumenls are subsequenuy rarried al amortised cost. using Ihe effective interest Kate meih(xl. Trade ¢￿dItorS are obligations to pay for goods or services that have been acquired in the ordinary course of operab.ons from suppliers. Amounts payable a￿ d3ssified as current liabtlities if payment is due within one year or less. If not. they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequenuy measured at amortised cost using the effective interest method. THAXTED UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Attounting pollcles Icontinued D8r8cognition of financial liabiliti85 Financial liabilities are derecognised when the charity's coniraciual obligations expire or are d*scharged or cancelled. Critical accounting estimates and judgements In the application of the charitys accoEJnting Oiaes. the trustees are required to make judgements, estirnates and assumptions about the carrying amount of assets and liabilibes that are r￿t readily apparent from other sources. The estimates and associated assumpiions are based on historical experience and other factors that are considered to be relevant. Aclual results may differ from Ihese esbmaies. The ests"males 2nd underfying assumplions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in whith the esb.mate is rewsed Whe￿ ¢he revision affects only thal period. (>r in the period of the revision and future peri<)ds Whe￿ the ￿vIsion affects both current and future period5. Other Income Unrestricted Unrestricted funds funds 2023 2022 Donations and gifts 16.179 CollectFoll5 un￿strICted ￿n￿$t￿l¢ted Funds Funds 2023 2022 Cash Covenants 936 6,052 1,412 8,602 6.988 10.014 10 THAXTED UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Income from Church Hire et¢. un￿strICted Unrestricted funds funds 2023 2022 Income from Church Hire- Thaxted Festival Thaxted Flower Club Guildhall Girls Thaxted Singers Gardeners weekend Funer81 Th3Xted Sewer5 Chartes Hey Dunmow Players 600 295 245 1.090 sso 1.735 31K) 390 9(10 450 945 4,125 4,315 Income from Vestry Hire: Bridge Club SWCLP UDC 645 385 1,575 225 2.220 660 Income from Car Park.. Lettings Income from Church Hire Ètc. 6,495 4,975 THAXTED UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Income from investments Unrestricted Unre$tri¢ted funds funds 2023 2022 Weddirws Charifund Units Detx)sit Inteiest 500 2.938 729 4.256 165 4.167 4.421 Other Incom• Unrestricted Unrestricted funds funds 2023 2022 Other receipt 75 Ministerial Expenses Unrestricted Unrestricted funds funds 2023 2022 Maintenance ol the Ministy Pulprt Supplies 12.600 1.156 11,124 575 13,756 11.699 12- THAXTED UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Church Costs Unrestricted Unrestricted Funds Funds 2023 2022 Caretaker & materials Water Rates Electricty Insurance Repairs & rnainlenan Charity donations 620 560 2.832 1,412 4,244 468 6.028 1.989 31,908 300 41.533 9,668 10 Sundry •xpenses Unrestricted un￿StrICted funds funds 2023 2022 Stationery & Photocopying Audit MisTrllaneous Ico Noticéboard 70 1,240 191 35 1.825 40 1,100 900 3.361 2.040 11 Net movement in funds 2023 2022 The net movement in funds is stated after chafgiWlcredth"rrfJl". Fees paYa￿e lor the audil of Ihe charivs finanaal statements 7￿} 700 12 Auditols rèmunèration Fees payable to the charitys auditor and assooates.. 2023 2022 For audit sèrvicès Audit ol the financial siatements of the charity 700 700 13 THAXTED UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 13 Trustees None ol the trustees lor any persons connected with them) received any remuneration or benefits from the charity during the year. 14 Employees The average monthly number of employees during Ihe year was.. 2023 Number 2022 Number Tol81 There were no employee5 whose annual rernUnerati￿ was more Ihan £60,000. Remuneration of key management personnel The remuneration of key management personnel was as follows= 15 Taxation The charity is exempt from taxation on ils actNilies because all its in￿)Me is ap￿led fo¥ Gharitable purposes. 16 Flxed asset investments Equtties Investment Fund for Charhties Charities Official Irbvestrnent Fund Total At Cost At 1 January 2023 Valuation changes 56.866 130.0001 59 56.925 130.0001 At 31 December 2023 26,866 59 26.925 Carying amount At 31 Oecember 2023 26.866 59 26.925 At 31 December 2022 56.866 59 56.925 14- THAXTED UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 16 Fixed asset inves¢ments Icontinuedl Fair value of finan¢ial assets carried at amortised cost Except as detailed below the trustees believe that the caftyng amounts of financial assets carried at amortised cost in the financial statements approximate lo their lair values. Financial assets Carrying amount Farr value 2023 2023 2022 2022 Equities Investrnent Fur￿ for chariti.es Charities Official Investment Fund 26,866 59 31.381 17.424 61.455 192 59 17 Debtors 2023 2022 Amount5 falling due within one year. Prepayments 463 416 18 Creditors: amounts falling duÈ within one year 2023 2022 Accruals and deferred income 700 700 19 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject lo speafic conditions by donors and grantors as to h(w they may be used. These include designated funds which have been set aside oul of unrestricteil fvnds by the trustees for specific purposes. At 1 January 2023 Incoming resources Resources Èxpended Gains and losses At31 December 2023 Legacy Fund R Bennel Legacy Trinity Mead Fund Slebbing U.R.C Memorial Fund General funds 6.178 53.498 4,500 6,178 23.498 4.500 130,(KK)I 16.525 33.979 {58.6501 30,000 21,854 81.542 33.979 158,6501 $6,871 15- THAXTED UNITED REFORMED CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 19 Unrestricted fvnds Icontlnuedl Previous year. At 1 January 2022 In¢oming resOu￿e$ Resources expended Gains and losses At31 December 2022 Legacy Fund R Bennet Legacy Trinity Mead Fund Stebbing U.R.C Memorial Fund General funds 6.178 53.498 4,500 6,178 53.498 4.500 19.938 19.994 123,4071 16,525 84,955 19.994 123.4071 81.542 20 Related party transactions The￿ were no disclosable related party lor￿a¢￿On5 during the year12022- none). 16- ## **The Board of Trustees** Thaxted United Reformed Church Bolford Street, Thaxted Essex, CM6 2PY England 2[nd] August 2024 Dear Trustees, ## **RE: REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31.12.2023** Following the completion of our audit work and preparation of the audited accounts for the year ended 31[st] December 2023, we are formally writing to yourselves to communicate any matters that have come to our attention during the audit, of which you should be made aware. Our audit has been conducted on a test basis, and on a review basis, and so by this, we are unable to provide a comprehensive statement of weaknesses which may exist in the accounting, bookkeeping, and internal control systems or of all improvements which have come to our attention as a result of the audit procedures which we have performed. The matters we are required to report to yourselves are as follows: ## **a) Expected modifications to the audit report** We do not anticipate any modifications to the audit report. ## **b) Audit journals** There were just a few adjustments which we have made to the drafted accounts. The adjustments were communicated to you and the accounts have now been reviewed and signed by yourselves documenting your approval. ## **c) Significant deficiencies in the accounting and internal control systems** We have not identified any weaknesses in the accounting, bookkeeping, and internal control system which we consider contain significant deficiencies, during the course of our audit work. ## **d) View about the quality of the accounting practices and financial reporting** - We have no matters that we wish to bring to your attention in respect of the quality of the accounting practices and financial reporting. ## **e) Independence issues** We consider that there are no independence issues. ## **f) Matters specifically required by other International Standards on Auditing (ISAs) to be communicated to the trustees and those charged with governance** There are no other matters specifically required to be communicated to the trustees. Please note the following limitations with regards to the content of this letter:- - a) They have been prepared for the sole use of the Trustees of Thaxted United Reformed Church - b) They must not be disclosed or quoted to a third party, in whole or in part, without our prior written consent. c) We assume no responsibility to any other person. Yours faithfully, Aston Shaw Limited