Company number. 01166357 Charity number. 267469 THE CONGREGATIONAL FEDERATION LIMITED REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 COMPANY LIMITED BY GUARANTEE
THE CONGREGATIONAL FEDERATION LIMITED REPORT OF THE TRUSTEES YEAR ENDED 31 DECEMBER 2024 CONTENTS Page Report of the Trustees Report of the Independent Examiner Statement of Financial Activities Comparison Slalemenl of Financial Activities Balance Sheet 10- 11 Statement of Cashflows 12 Notes to the Financial Stslemenls 13-25 The following pages are for information only and do not form part of the ststulory accounts.. Custodn Trustee properties Appendix 1 Managing Trustees Appendix 2
THE CONGREGATIONAL FEDERATION LIMITED REPORT OF THE TRUSTEES YEAR ENDED 31 DECEMBER 2024 The Trustees, who are also Diwlors of the Company for the purwses of the Companies Act 2006, present their report with the financial statements of the Charity ft)r the year ended 31 December 2024. The Trustees have adopted the provisions of Ststement of Recommended Pr8clice ISORPI "Accounting and Reporting by Charities IFRS 1021 in preparing the annual report and financial statements of the Charity. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 01166357 (England and Wales) Registered Charity numbvr 267469 Registered office 8 Castle Gate Nottingham NG1 7AS Trustees (also Directors of the Company Mr J A Lyon (Chairperson) Mr l R Bairstow Mrs S M Austin Revd C J Bamforth Damp Mr T J Bateman Mr$ H Biggin Revd S J Turner Mr E P Fenwick Revd C L Gillham Revd R Green Revd J Holloway Revd F Y Kamara Revd O C Kinchin Revd R Leeming Revd R D Macrae Miss M M C McGuinness Dr B W Mason Revd C J Slott Revd A G Weighlon Mrs E Sweeney-smilh Revd G Simonis Mr M Taylor Appointed Resigned 28th May 2025 31 sl December 2024 Appointed Resigned Appointed 28th August 2024 281h August 2024 16th August 2024 Resigned 28th May 2025 Resigned 281Th May 2025 Appointed 28V) May 2025 Company Secretary Mrs. K C L Bass Independent Examiner UHY Hackeryoung, 14 Park Row. Nottingham, NG16GR
THE CONGREGATIONAL FEDERATION LIMITED REPORT OF THE TRUSTEES YEAR ENDED 31 DECEMBER 2024 Bankers National Westminster Bank Plc, Ground Floor, Grand Cenlial, Unit 24, Birmingham B2 4BF Solicrtors Nelsons Solicitors Ltd, Pennine House. 8 Stanford Street, Nottingham, NG1 7BQ STRUCTURE. GOVERNANCE AND MANAGEMENT Governlngdocumgnt The Company is govemed by its Memorandum and Articles of Association, which were last revised on 19th November 2005. Funds recognised on the balance sheet are for the furtherance of the Charity's aims. Recrultment and appolntment of NewTrustees In order to qualify as a Director of the Company, each individual has to be a Trustee and member of Council of the Congregational Federation. The Directors do not have any beneficial Interests in any shares of the Company as the Company is limited by guarantee. In the event ofthe Company being wound up, personal liability is limited to an amoLJnl not exedIng five pounds. Induction and training of New Trustees New Trustees ceIve guidance on Trusteeship and a copy of the Charity Commission publication 'CC3 The Essential Trustee,. In addition, all Trustees receive periodic training sessions explaining the overall Importance and nature of their role. The Company may also from lime lo b'me invite ils legal or other advisors to meetings to address a particular topic. particularly at times of reviewing major m8tteTS. The provision ofTrusleelraining continues lo beperiodically reviewed. Organisational structure Trustees of the Congregational Federation are entitled lo become Directors and Trustees of The Congregational Federation Ltd and those who elect to serve, participate in Trustee meetings (also known as Executive Committee Meetings} which are normally held during the same weekend as the Council meetings of the Federation", they may also be called lo participate Di Trustee meetings at other times during the year as required. A variety of issues relating to Trusteeship are discussed from time to lime including by way of examples, issues relating lotnjsls, charities, propety. finan¢e, and nsurance. Relatsd parties The Company acts as Custodian Trustee for The Congregational Federation itself,. as such the Charity is considered a related party. Other related parties are detailed in note 17. Riskmanagement TheTruslees are regularly presented with full financial infomialion regarding thecharity. In addition, the Trustees are made aware of movements of funds held on behalf of churches for which we are Custodi2n Trustees and controls are in place regarding movement of such funds. Internal control proceduwes are regulady reviewed and updated to ensure that such controls are appropriate to provide reasonableassuranceagainstfraudand error.
THE CONGREGATIONAL FEDERATION LIMITED REPORT OF THE TRUSTEES YEAR ENDED 31 DECEMBER 2024 OBJECTIVES ANDACTIVITIES Objectives and Aims The Company is principally engaged In acting as Custodian Trustee for the member churches of Congregational Federation, as well as some other Independent churches. The Company is al80 Custodian Trustee lor The Congregational Federation itself. 1115 a registered Charity. The Company is limited by guarantee and does not trade with a view to profil. Publlc Benefit The Trustees have given due consideration to Charity Commission published guidance on the operation of the Public Benefit Requirement. The Company exists for the public benefit of Congregational Churches. It acts as a Custodian Trustee for buildings and investments and is an umbrella body offering information and advice on matters relating to Trusteeship. Significant activilies The Company's overall movement in funds in the year shows a gain of1£245.914112023'. loss £419.3321. The nel movement in funds excluding restricted and endowed funds shows a loss of £94612023.. gain £3971. During the year the Company conts'nued to administer the assets of closed churches in line with the dissolutron clauses of each closed church. During the year £24,86312023'. £375,076) was distributed from the sales of closed churches ol whith £24,863 12023.. £367,961) was distributed lo the Congregational Federation. ACHIEVEMENT AND PERFORMANCE Charltable activities and assets held as Custodian Trustee During the year the Company has continued in its role as Custodian Trustee lo a significant number of Congregational Chuhe5 and Trusts. and of the Congregational Federab'on itself. The Company has continued to deal with all the aspects of the sale of redundant church buildings under ils Trusteeship. It Continues lo offer support and advice lo local ¢hur¢hes covering a wide range of ssues including trusteeship, charitable slalus, leases and other occupancy agreements, disposals of property, planning and fvnding applicatsons. disputes and other miscellaneous advice. The Company also administers funds tolaling £7,982,998 12023. £7.877,5311 al market value, on beh81f of Congregational Churches, Trusts, and Areas. and £10,642,746 12023.. £10.698,1031 Investments at market value on behalf of Congregational Federation. These funds are not part of these financial slatemenls. The records for these assets are kept separate from those of the Company and are subject to periodic independent scrutiny. The properb'es over which the Company acts as a Custodian Trustee are listed in Appendix 1 to the Accounts. The Company Continues lo improve rts administrative and reporting procedure5. Investment perfomiance During the year the investments produced an gain of £829 12023.. loss £1,624).
THE CONGREGATIONAL FEDERATION LIMITED REPORT OF THE TRUSTEES YEAR ENDED 31 DECEMBER 2024 FINANCIAL REVIEW Reserves Policy Free Reserves provide the working capital requirements of the Company. whilst providing a buffer of liquid funds in case of unexpected incre8ses in costs, particularly. although not exclusively, arising from ils role as Managing Trustee. The Company calculate5 its Free Reserves as those held in the General Purpose Fund las disclosed in note 161 less the Tangible Mon-current Assets. which are those Tangible Fixed Assets Iwf(hin note 111 all(Kated to the General Purpose Fund. The level of Free Reserves is considered lo be sufficient. 2024 2023 General Purposes Fund 57,868 56,732 Less Tangible Non-current Assets 125,0001 125,0001 Free Reservos 32,868 31.732 Investment policy The investment policy of the Company is to maintain a balan betsveen irKome and capital growth, subject to a moderate degree of risk, with up lo 5Yo high risk. There should be no exposure lo lobaceo, alcohol, amiaments, gambling, pornography or high-inlerest lending. Investment Controls Investment Funds held in the name of the Company on behalf of separate churches and trusts a not Company 8sset5, and as such are not included within these accounts. These holdings are held in designated accounts., the income being derived from these investments is held in a client's account within the Company's accounting systems. Fundraising No fundraising is carried out by The Congregational Federation Limited. FUTURE DEVELOPMENTS The Company continues to work with Congregational Federation with regards lo the challenges fa¢ed by Congregational Churches and also continues lo explore church regeneration opp)rtunities. taking into account both financial and operating requirements. The Trustees will periodically review the levels of the Future Evaluations Cost5 Fund.
THE CONGREGATIONAL FEDERATION LIMITED REPORT OF THE TRUSTEES YEAR ENDED 31 DECEMBER 2024 STATEMENT OF TRUSTEES. RESPONSIBILITIES Trustees. re$ponslbilltigs The Trustees are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations. Company Law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have elected lo prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable lawl- Under company law the Trustees musl not approve the financial statements unless they are satisfied that they give a true and fair view ofthe state ofaffairs of the Company and of the profit or loss ofthe Company for that period. In preparing these financial statements, the Trustees are required lo.. Observe the methods and principles in the Charities SORP IFRS 1021. select suitable accounting policies and then appty them consistently. make judgements and accounting esbrnates that are reasonable and prudent. state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show an d explain the Charity's transactions and disclose with reasonable accuracy al any time the financial position of the Company and enable them lo ensure that the financial ststemenls comply wrth the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and delects'on of fraud and other irregularities. Signed on behalf of the Truslees. MrJALyon Chair Company Registration Number 01166357 Charity RegSstratÈon Number 267469
THE CONGREGATIONAL FEDERATION LIMITED INDEPENDENT EXAMINATION REPORT YEAR ENDED 31 DECEMBER 2024 OPINION I report to the Charity Trustees on my examination of the accounts of the Company for the year ended 31 December 2024 which are set out on pages 2 10 25. Responsibilities and basis of report As the Charity Trustees of the Company land also ils directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 I'the 2006 Acl'l. Having salisfled myself that the accounts of the Company are not required lo be audited under Part 16 of the 2006 Ael and are eligible for independent examination, I report in respect of my examination of your Company's accounts as carried out under section 145 of the Charities Act 2011 I'lhe 2011 Acl'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145151 Ibl of the 2011 Act. Independent examlnefs statement I have completed my examination. l Confirm that no matters have come lo my attention in eonneclion with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act., or the accounts do not accord with those records., or the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a 'lrue and fair view, which is not a matter considered 85 part of an independent examination". or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by ch8rilies applicable lo charities preparing their accounts in accordance with the Finahcial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other matters in eonneclion with the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. id Allum FCCA UHY Hacker Young Chartered Accountants and Registered Auditors 14 Park Row Nottingham NG16GR Dated. I Ilq12015
THE CONGREGATIONAL FEDERATION LIMITED STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2024 Unrnstrletsd Fund$ Rè*ri¢ted Funds 2024 Total Funds 2023 Totsl Fund8 Ineom• Voluntary incomé Inlestments Charitable 8cliiilies Other 1.476 7.872 7.1(K) 1,462 314,005 314,005 Tot¥1 1,476 320,401 321,8TT 8,562 Expendilure Charitable actiilties Charitable actilities Disbursements 41,152 24,863 44.142 24,863 44,280 375.076 Total 2,990 6&015 69.005 419,356 Net Incom• I (Expendlturel 11,5141 254.386 252,872 1410,7941 Gross transfer3 betsyeen Funds Net income bèforè othèr rè¢ogni8ed galnslllossosl 11,S14 254,386 252,872 410,7941 Other recognlsed galns I Ilossèsl ewluation of instment property Gains I Ilossesl on Sale of in¥estment property 162,8931 (7.7871 17,787) 55,979 Gains I Ilosse51 on imestments 829 11.6241 17,5261 16,9581 18,5381 t movement in Fund? 19461 246,860 245,914 1419,3321 Total Funds brought forw#r(I 72,951 443,520 818.471 937,803 Total Funds carrlèd foThvard 15 oos 692.380 764,385 518,471
THE CONGREGATIONAL FEDERATION LIMITED STATEMENT OF FINANCIAL ACTIVITIES - COMPARATIVE YEAR ENDED 31 DECEMBER 2024 Unrestrictsd Fundg Re*ricted Funds 2023 Total Funds Income Voluntary income In¥eslments Charitable acliwties Other 1,739 5,361 1,462 7,1 1,462 Total 1,739 6.823 8,562 Expandlture Charitable aclimties Charitable acti¥ities - Disbursements 2,421 41,859 375,076 44.280 375,076 Total 2.421 416,935 419.356 Net Income I (Expenditure} 1682) 1410.1121 1410,7941 Net income b•fore other recogni¥ed gains I (los) {6821 1410,1121 1410.7941 Other recognised gainsl {lossesl ReKoluation of InStMent property Gains I Ilossesl on sale of in¥estmenl PrOrtY Gains I (losses) on instMentS {62.8931 55.979 12,7031 {62,8931 55,979 11,6241 1.079 1.079 (9.617) 18,5381 Net movement in Funds 397 1419,7291 (419.3321 Total Funds brought forward 72,554 865.249 937,803 Total Funds carriod forward 72.951 445,520 518.471
THE CONGREGATIONAL FEDERATION LIMITED BALANCE SHEET AS AT 31 DECEMBER 2024 Unrericted Fund$ Reicted Funds 2024 Total Funds 2023 Total Funds Note Non Current Asts Tangible 8S5els InStmentS 10 11 25,000 14,007 25,000 112,939 25,000 117,349 98,932 39,007 98.932 137.939 142.349 Current Assgts Instment prryerty 12 492,032 492,032 327,032 Debtors Amounts falling due wthin one year Cash in hand 13 8,636 32,998 8,636 137,704 20,152 46,670 104,706 Debtots Amounts falling due after more than one year 13 44,939 44,939 50,836 86,573 596.738 683.311 444,6 Creditors Amounts falling due wthin one year 14 18,6361 {3,2901 111,9261 117,7321 Net Current As*ts 77,937 593,448 671,385 426,958 Total Assèts less Current Liabilities 116,944 692,380 809,324 569,307 Creditors Amounts falling due after more than one year 14 {44,939) 144,939} {50,8361 Net AtOla1 Funds 72.005 692,380 764,385 518.471 Funds Unrestricted Funds Restricted Funds 72.005 72,005 692.380 72.951 445,520 692.380 Total 15 72.005 692.380 764,385 518.471 The notes on pages 13 to 25 form part of these financial statements. 10-
THE CONGREGATIONAL FEDERATION LIMITED BALANCE SHEET AS AT 31 DECEMBER 2024 For the financial year in question the company was entr(led to exemption under section 477 of the Companies Act 2006 relating to small companies. No member5 have required the company to obtain an audit of its a¢counts for the year in question in actanCe with section 476 of the Companies Act 20C6. The diwlors acknowledge their responsibility for complying wrth the requirements of the Act wi(h respect to accounting records and ft)r the preparation of the accounts. These accounts have been prepared in accordance wrth the provisions applicable to companies subject to the small companies, regime. The financi81 statements were approved and aulhori5ed by the Board of Trustees on . signed on 11$ behalf on by". . and were MrJALyon Trustee 11
THE CONGREGATIONAL FEDERATION LIMITED STATEMENT OF CASHFLOWS YEAR ENDED 31 DECEMBER 2024 2024 2023 Cash flow from operating activities Note 19 {26,2861 {407,2771 Net cash flow used in operating activities 126.286} 1407.2771 Cash flow from investing activities Payments to acquire investments Receipts from sales of investments Receipts from sales of investment properties 6.004 117,213 2,000 265,979 Net cash flow from Investlng aclivitles 123,217 267,979 Cash flow from financing activitles Long-temi loan repayment 15,8971 15,618} Net cash flow used in financlng activities {5,8971 15,6181 Net Increase l {decreasel in cash and cash equivalents 91.034 1144,9161 Cash and cash equivalents at 1 January 46.670 191,586 Cash and cash equivalents at 31 Decomber 137,704 46.670 Cash and cash equlvalents consist of: Cash at bank and in hand 137,704 46,670 12-
THE CONGREGATIONAL FEDERATION LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements have been preparecl under the historical cost convention as modified by the revaluation of inveslmenls. in accordance with the Accounting and ReFK)rting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in aecordance with the Financial Reporting Standard in the UK and Republic of Ireland IFRS 1021. They have also been prepared lo comply with the Companies Act 201% and the Charities Act 2011. 1.2. Income All income is included on the Statement of Financial Activities when the Charity is legally enlilled to the income and the amount can be quants'fied with reasorbable accuracy. 1.3. Expenditure Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Wfftere costs are not direclly attributed lo particular headings, they have been included within the Gener81 Purposes Fund within Unrestricted Funds Disbursements of proceeds from the sale of closed church properties are recognised on a cash basis. 1.4. Investment Property Property held for sale is included within current assets under the heading Investment properties. These are included at market value. 1.5. Taxation The Charity is exempt from corporation lax on its charitable activities. 1.6. Fund accounting Unr¢$trictod Funds Geneml Funds are Unreslricled Funds which are available for use al the disCtron of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Restricted Funds Restricted Funds are fvnd5 which are lo be used in accordance with speafic restrictions imposed by donors or which have been raised by the Charity for particular purposes. The aim and use of each Restricted Fund are set out in the notes to the financial statement5. Endowment Funds Endowment Funds can only be used for particular reslricled purposes and only the income can be spent by the Charity. Al the year end there were no Endowed Funds held by the Charity. 1.7. Loans to Churches These are included within debtors. Loan5 to Churches consist of amounts paid by The Congregational Federation Limited in supporting or devek)ping a church where The Congregational Federation Limited holds the custodian trusteeship over the property. There are written agreements in place for the repaymenl of the loan. 13
THECONGREGATIONAL FEDERATION LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES (continugdl 1.8. Custodian Trustee Appendix 1 lists the churches held as custodian on behalf of the congregations or charities. These assets are held separately from the assets of the Company. The responsibilities for the safe custody of these assets are the Managing Trustees i.e.. separate charities or congregations, (which do not form part of the slalulory accounts). 1.9. Closed Churches Following the closure of a church, when il has been agreed to transfer the assets lo the Company, the Company lakes on the role of Managing Trustee. All the assets are then brought onto the balance sheet at valuab.on as a Reslricled Fund which allows the accounts lo show the full financial resp)nsibililies of the Company and maintains the funds separately for reporting purposes. Closed churches that are held for sale are accounted for as current asset investment properties. On sale the dislributson of the proceeds is determined by the Directors of The Congregational Federation Limited, who act in accordance with the dissolution clauses or any subsequent Charity Commission directive. Closed churches which are held fr>r potential regeneration are held as a £nil value tangible assets. 1.10. Congregational Churches In the opinion of the Trustees, individual Congregational Churches and Trusts are not considered to be related parties as the Company's relationship with them is one of administration and giving advice rather than exercising influence. As such, transactions with individual Congregational Churches and Trusts are not separately disclosed within these accounts. 1.11. Legacies Legacies are treated as receivable in the financial statements when nolific8tion has been received and receipt is virtually certain. 1.12. Non-current Investments Non-current investments are included at market value at the balance sheet date. All gains and losses on investments are reflected in the Statement of Financial Activities as they arise and are not separated betsyeen realised and unrealised gains and losses. 14-
THE CONGREGATIONAL FEDERATION LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 Voluntary Income 2024 2023 Voluntary incornè Tolal Inv•sbn•nt In¢om• 2024 2023 Rants r6cèi¥ed 165 6,985 722 165 4.640 2.295 Income from fixed 855et IntmentS Bank interest 0&ed Totsl 7,872 7,100 Ineom• from Chariiabl• Aetivitie¥ 2024 2023 Incom& re18ting to projects Other 1,462 Totsl 1,462 Other Income 2024 2023 Incoming r8sourc8g receiwl following church closures tor manag6mÈnt by Thè Gongw8tional Federation Ltd Inlment prO[rtIeS Cash arKI inkestments 290.000 24,005 Totsl 314,OOS 15
THE CONGREGATIONAL FEDERATION LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 charltablo Advilli Lknrn8tiicted Rosirict8d 2024 2023 Gweral eXnSeS Pr(4ecl cosls 535 535 43,607 606 43.674 41,152 Totsl 2,990 41,152 44.142 44,2BO cra1 expae% IndLKie costs Sh as bank charges. Tre Compaw does rni ernOy any staff. Congre9allonal Fedèiation pr0&4des adminislrali and management sel¢e$ lo The Congregational Federalim Limit bul does not rechatge these cost5. Governan¢8 Cods IrK*perKlÈnl Examiner5 Uratn and Trustee$. expen$e5 ho teen boTh by Cor¥J8t1onal Fwjeratim. Charftablè Actlvttl•s- 01$bements 2024 2023 thsbutsetnetrt5- Ashley thsbursemenis- Cdchester ri51eMent$- Ridg11 tisbusements . Sandtsd tisbursements - shaKd G tAsbursemenls - Ton Penire cisbutsemÈnlS - Tredegar Eisbut5ernenls - TDJJoxhill 12.490 80.CK)O 7.115 180.718 11.870 17,124 75,910 9,849 10.450 11.260 3.153 Totrl 24,863 375.076 T8 Remuner8tion and Benefit¥ TTu8tees claimed exskrtse$ latI lo closed chwches for the year ended 31 December 2024 Nil 12023 NIII. 16-
THE CONGREGATIONAL FEDERATION LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 10 Tangible Non£urrent Assats Property Tofal At 1 January 2024 Additi$ 25.1XX) 25,OC At 31 December 2024 25.000 25,0) Net Book Valu• At 1 January 2024 25,000 25,OCO At 31 December 2024 25.0 Property includes an open church, sthere The Congregational Federation Limited ale the Custodian Trustee. The value staled in the accounts, £25.000, represents the cost value. the property Kere to be sold The Congregational Federation Limited Uld be enttiled 60Vo oflhe propety value. W) depreciation has been provided in the year, as the Trustees believe that the carrying value of land and buildings is less than the residual value and any depreciation Mould be immaterial. 11 Flxed Ass•t In¥•stm•nts UK List•d Investments Market Value At 1 January 2024 Additions Disp)sals GainsllLossèsl 117.349 16,C041 At 31 December 2024 112,939 12 Inveament Propety Inve*ment Property Market Value At 1 January 2024 Churches closed duriryJ ltte year RelUationS Disposals 327,032 21,[ I125.0> At 31 December 2024 492,032 Investment properties are held for resale and are valued at the Trustee's estimate of market value. 17
THE CONGREGATIONAL FEDERATION LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 13 Debtors 2024 2023 Amountsfalllng due wlthin one year. Prepayments Other debtor5 Loans lo Vireyard Congregational Church 10,149 8,636 8.636 8,636 20,152 Amountsfalllng due after more than one year: Loans lo Vineyard Congregational Church 44,939 50,836 44,939 50.836 Total Debtors $3,575 70.988 Loans to church 2024 2023 Vineyard Congregational Church 53.575 59,472 Total Loans 63,575 59.472 Amounts falling due within one year Amounts falling due after more than one year 8,636 44,939 8.636 50,836 Total Loans 53,575 59,472 18
THE CONGREGATIONAL FEDERATION LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 14 Credlto 2024 2023 Amountsfalling due wlthln one year: Other Credrto Lloyds Bank loan - Vineyard Congregational Church 3,290 8,636 9,098 8,636 11,926 17.732 Amountsfalling due between one and two years Lloyds Bank loan - Vineywd Congiegation81 Church 8,636 8,636 8,636 Amountsfalling due between fv40 and five yea Uoyds Bank loan - Vineyard Congregational Church 25,908 25,908 25.908 25.908 Amountsfalling duo after more than five yea Lloyds Bank loan - Vineyard Congregational Church 10,395 16,292 10,395 16.292 Totsl amountsfalllng due after one year 44,939 50,836 19-
THE CONGREGATIONAL FEDERATION LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 Unrestrirted Funds The General Purposes Fund represents total unrestricted Funds 8V8i18ble to the Charity. Designated Funds Future Evaluations Costs Fund - In 2021 the Trustees established a designated fund, Future Evaluations Costs Fund, with an initial funding of £10,000 from Closed Church receipts enabling the Trustees lo fund reports commissioned. in Connection with Cbsed Churches who have closed with inadequate financial resources. Expenditure, e.g., Insurance and Utilities. will continue to be allocated lo the appropriate reslricled fund. Graveyard Fund - The Fund is held lo cover the ongoing costs of maintaining graveyards, forwhich the Company Is the Managing Trustee. Restricted Funds Colchester Fund {Old Heath}- The chur¢h Closed in 2019. On dissolution, any remaining fvnds after payment of expenses may be applpd for charitable purposes in connection with Congregationalism. The sale of the propety was concluded during 2023, which enabled an interim payment lo the Congregational Federation in 2023. The Fund was finally distributed to the Congregational Federation during 2024. Delph Fund The church was sold several years ago, and the funds were distributed in accordance with the dissolution clause. At that lime, the decision was made by the Trustees lo retain 3.5 acres of agricultural land. currently valued at £32,032. The land is held on an Agricultural Tenancy with a rental of £165 per annum. The balan of the Fund represents accumulated income. Any funds that may be received from a future disposal may be used for Congregational purposes. Dudley Fund - The chLtrch closed in 2022. On dissoluts'on, any remaining funds after payment of expenses niay be applied for charitable purposes in Connection with Congregationalisrn. Longney Fund - The church closed in 2018. On dissolution. any remaining funds after payment of expenses may be applied for charitable purposes in connection with Congregalionalism. Middleton-by-wirksworth Fund The church closed in 2022. Funds emanating from the disposab are lo be distributed in accordance with the founding deeds. Rishworth Graveyard Fund - Future obligations regarding the burial ground pass lo the purchaser and any future successors in title. Future gonts may be made lo future owners of the graveyard, subject lo confirmation thatobligations are complied with and are al the Trustee's discretion. Royton Church Fund - Income lo be applied for the benefit of Chadderton Congregational Church, Greenacres Congregational chUh (Oldhaml, Springhe8d Congregational Church (Oldhaml and Shaw & Heyside United Reformed Church. Royton Endowed Fund Income to be applied for the benefit of Shaw & Heyside United Reformed ChUh. Royton Manse Fund Income lo be applied for the benefit of Northern College, Manchester. ICh8rity No". 5292531. 20-
THE CONGREGATIONAL FEDERATION LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 Sandford Fund The church closed in 2021. On dissolution, any remaining funds after payment of expenses may be applied for charitable purposes in connection with Congregational purposes The sale of the propety was concluded during 2023, which enabled an interim payment lo the Congregational Federation in 2Q23. The Fund was finally distributed lo the Congregats'onal Federation during 2024. Trudoxhill Fund - The church closed in 2019. On dissolution, any remaining funds after payment of expenses may be applied for charitable purposes in connection with Congr4ationalism The Fund was fully distributed to the Congregational Federation during 2023. Didrnarten Fund- The church closed in 2024. Newton Buryoland Fund The chL¢rch closed in 2024. 11 is lo be sold and the proceeds distributed to The Congregational Federation. Bethesda Fund The church closed in 2024. 20010 of the nel sale proceeds lo be distributed to the UCCC and the balance lo The Congregational Federation. 21
THE CONGREGATIONAL FEDERATION LIMITED NOTES TO THE FINANCIAL STATEMENTS MOVEMENT IN FUNDS 15 Movement In Funits GaIn1lL) on Invements At 01.01.24 ItKom• E%ndIre Tranthr At 31.12.24 Unfyricted Funds G8n8ral PuTw)$85 56,732 1.2 15351 416 57,E68 nated Funds Future Ewluaiior6 Costs Grayard 10,( 6.219 10.OCQ 4.137 221 12.4551 152 72,951 1,476 119901 72.005 Rorlcted Funds Colche$ter- Old Heath Delph Dudky- P LOngY MIddton-by-Wv1rf<$wOrth Rishworth - Gra*yar Royton- Church Roylon- Endowed Roylon- Manse San0r Trudoxhill Didmarten Newton Burgoland B?the$da 10,450 34.381 123.232 38,942 121.542 8.073 78.fj61 8,359 10,7 11,145 110,4501 298 34.879 108.499 36,212 108,523 114.7331 12,noi 14,8321 17.7871 413 4,4 13.2671 ITJ61 13031 1.293 81.183 8.586 10,912 595 3.153 80,125 152.481 78.377 13, 1531 12,5861 14,9111 17,6691 7T,539 146,653 70,708 191n 445.520 320,401 166,0151 17,5261 692.380 Total 518.471 321.877 I69.5) 16,9581 764,385 -22-
THE CONGREGATIONAL FEDERATION LIMITED NOTES TO THE FINANCIAL STATEMENTS MOVEMENT IN FUNDS COMPARISON Movement in Funds Comparistsn Inveament GainllLwl on Piopetty Invem8nts Revaluation At 01.01.23 Income Expenditure At 31.12.23 Unrerlcted Fund5 General Purposes 55.1r22 1,589 18081 727 $5.732 Deslgnated Funds Future EluationS Costs GraYard 10.CQO 7.532 io.(Mx> 6.219 150 352 1,739 12,4211 1.079 72,961 Rerrcted Fund5 Ashley QAchestw- Old Heath twph Dudley - Park 5wich St Clements Longney middton--Vvlrf1$WOrth Nottingham Polesworth Ponlypwl- Emmau$ Ridgewell Rishworih- Grayard Roylon- Church Royton- Endow&J Royton- Manse Sandford Trudoxhill 12.490 187.849 32.013 137,0 42.722 1(.504 8,130 7.734 .410 8.777 11,271 113.500 11.871 17.123 75.910 9.849 112,49)) 182.6591 14,7401 190,0) 2,107 10.450 34.381 123.232 38.942 121.542 1.OtK) 114.8641 13,7801 356 1c6 339 25,000 18,2361 8.073 78.fA1 8.359 10,735 11.145 3,2 454 583 518 I3.2() 14541 15831 1163.5921 11,7491 14181 15361 60.719 117,1231 175.9101 19.8491 865.249 6,8rJ 1416,9351 53.276 162,8931 44&520 937,803 1419,3561 54,355 162,8931 518.471 -23-
THE CONGREGATIONAL FEDERATION LIMITED CUSTODIAN TRUSTEE PROPERTIES YEAR ENDED 31 DECEMBER 2024 16 Related Party Disclosure In the opinion of the Trustees, individual Congregational Churches and Trusts are not considered lo be related as the Company's relationship with them 15 one of adminislralion and giving advice rather than exereising influence. As such, transactions with individual Congregational Churches and Trusts are not separately disclosed within these accounts, with the exception of the following where the Company acts as a Managing Trustee. 11 is ¢on5idered that Congregational Federation is a related paty of the Company through comrnon Trustee Board. During the year, tonsaclions look place with Congregational Federation as follows'.- 2024 2023 Funds from Congregatlonal Federation Payment of Independent Examination Fee 3,650 3,500 2024 2023 Funds to Congregational Federation Costs relating to closed churches Closed church sale distributions 91 24,863 367,961 During the year Congregational Federation paid £18,52312023'. £18,364) in joint insurance cover, including Professional Indemnity for itself and The Congregational Federab'on Limited. ConggatIOnal Federats'on provides adminislralive and management services lo The Congregational Federation Limited. Congregational Federation do not recharge these costs lo The Congregational Federation Limited. -24-
THE CONGREGATIONAL FEDERATION LIMITED CUSTODIAN TRUSTEE PROPERTIES YEAR ENDED 31 DECEMBER 2024 17 Rolg of Custodlan Trustee During the year the Comp3ny has continued in ils role as Custodian Trustee lo Congregational Churches and Trusts. and of Congregational Federation itself. The Company acts in this capacity on behalf of a significant number of the churches in Congregational Federation. The Company also administers various Tmst Funds,. the monies receNable and payable by the Company on behalf of these funds are governed by Charity Commission Schemes. The propertie5 over which the Company 8¢ts as a Custodian Trustee are listed in Appendix 1 to the Accounts. These properties are not reflected in the Balance Sheet of the Company. The Company is also CL¢Stodian Trustee lo fvnds lolaling £7,982,998 12023.. £7,877,531 at market value, on behalf of Congregational Churches, Trusts, and Areas, and £10,642,74612023". £10,698, 1031 inveslments at rnarket value on behaw of the Congregational Federation. These items are not reflected in the Balance Sheet of the Company. The Company has continued to deal with all the aspects of the management and sale of redundant church buildings in its ro as managing Trustee. These buildings are included on the Balance Sheet of the Company. 18 Legal Status of Charlty The Charity is a Company limited by guarantee and has no share capital. In the event of the Company being wound up, personal liability is limited lo an amount not exceeding five pounds. 19 Reconclliation of Net Expendlture to Net Cash Flow from Operating Actlvltles 2024 2023 Nel movement in funds Ilncreaselldecrease in deblots Increaselldecreasel in credi101s Revaluation of in¥eslmenl Pfopety IG8inl I loss on sale ol inveslmènl propety (Gains) I losses on snveslmenls Churches closed during the year 245.914 17,414 {5,8071 {419.3321 6.211 {2,6941 62.893 155 9T9) 1.624 7,787 11.5941 1290.000) 126,2861 1407,2771 -25-
THE CONGREGATIONAL FEDERATION LIMITED CUSTODIAN TRUSTEE PROPERTIES YEAR ENDED 31 DECEMBER 2024 Appendix 1 Church Congregationg Propety where Trust Deeds are held on behalf of the respective church congregations. The responsibility for the safekeeping of the assets lies with the individual congregations. 2024- 17612023 - 179} Abertillery Affetside Charfield Chatham Cheltenh2m Higham Highbury Quadrant Horningsham Hutton Free Ashby-de-la-zouch Ashton-ln-makerfield Chipping Chulnileigh Corte Castle Bedford.{Elslow Bunyan) Seer kle klen Green Belper Belvedere & Erith Berkeley Bethel Mission ISI Helens) Bilston Birmingham - Hay Mills Birmingham - Ladypool Rd Biaby Blackpool, Victoria Blaenavon Cranbrook Credilon Daen.Highfields Dereham Dordon Dowlais Inglewhite swich,Hatfield Rd bleof Sheppey leworth IgIOn Union Chapel Kontish Town Kingswood,IWotton-under- Edge) Knowle Green Draycott Driftield Dulverton Lapford Leicester Clarendon Park Litlington Little Longstone Liverpool Llanhillelh Loddiswell Longcompton Long Itchington Long Slratlon Maldon (Broad St Greenl Manchester - Lees Street Markel Harborough Markfield Marton li Chirbury Minsterley Mobberley Moreton in Marsh East Bergholt East Ham Bow Bradford. KippiThJ Bradford.Union Croft Bradley.Whitchurch Brelherton Bristol.Hope Bristol. Kingswood Brrton Ferry Brixton Bucklebury Burbage Buttershaw, Bradford Cadishead Cam Car1151e- Lowther St Carnforth Castle Combe Cawsand Chadderton Ilndependenll East Morton Eccles Fairford Four Lanes End. 8ury Framplon on Severn Fritchley Garnduffaith, Sardis Glasgow. Lloyd Morris Grassington Grimsby Guilden Morden Harden Harting Hawkesbury Upton Healhfield Healon Mersey Herstmon¢eux Narborough Nealh Newark Newcastle undgr Lyme -26-
THE CONGREGATIONAL FEDERATION LIMITED CUSTODIAN TRUSTEE PROPERTIES YEAR ENDED 31 DECEMBER 2024 (conlinuedfrom page 251 Newport.IlOWI Nomansland North Nibley Northwalsham Nowich Oakham Old Coulsdon Roxlon Ruscombe Taunton, North Street Taunton, Stoke Sl Mary Theddingworth Thundersley Timperley. Allnncham Timsbury Tollesbury Tregony Tutbury Ullesthorpe Uppingham Urmston Scunlhorpe Sheffield, Hillsborough Sheffield.Tapton Hill Sheffield. Worral Sherslon Shillington Sier End South Cerney South Chingford South Wigston Soulham & Bishop5 ttchington Southwi¢k st. Heller Morden Slalbridge Statybridge Slamboume Stanley Zion, Wakefield Sleeple Bumpslead Slepney & Grange Farm stockport stroud Oldfield,Altrincham Oldham - Ebenezer Oldham - Greenacres Oldham- Hope Oldham-springhead Orsett Padfield Penge Pennymoor Pen-y-Dre.Neath Peppard Pontesbury Port Talbot Rhiwderin Ridgewell Richmond, Vineyard Walkden Wand5worlh Warmley Way Village INelford Wells-nexl-the-sea Wembworthy Wilnecole Wimbledon Wilney Wivenhoe Yelvertoft Swansea, Upper Killay Congregational Federation Limited are a Trustee. 262661 Beer Congregational Church 248970 Clarendon Park Congregational Church 510988 Driffield Congregational Church 234403 Klngswood Congregational Chapel 232983 Tutbury Congregational Church 233020 Welford Congregational chh -27-
THE CONGREGATIONAL FEDERATION LIMITED CUSTODIAN TRUSTEE PROPERTIES YEAR ENDED 31 DECEMBER 2023 Congregatlonal Federatlon Property where Trust Deeds are held on behalf of Congregational Federation. The SponSibl11ty for the safe keeping of Ihe.assels lies with Congregational Federation. The properties are not Company assets, and as such are not included within these Accounts. Address 4 Castle Gale, Nottingham, NG17AS 6 Castle Gale, Nottingham, NG17AS 8 Castle Gale. Notbngh8m, NG17AS 16 Shelton Road, Coplhorne, Shrewsbury, SY3 8SS 13 Rivermead Avenue, Exmoulh. EX8 3BH Soulham Cenlre, St James Road, CV47 OLY 11 Daisy Dormer Court, Trinity Gardens. Brixlon, 8DW 195 Wythenshaw Road, Manchester, M23 gDB 17 Dolwerdd Estate, Penparc, Cardigan, SA43 1 RF 2 Inchview Gardens, Daety Bay, Dunfermline, KY11 9SA 16 Grice Road. Hartshill, Stoke on Trenl, ST4 7PJ 34 Riversley Road, Gloucester. GL2 OQT 104 Vicarage Road. Swansea. SA6 6DP 3 Upper Holway Road, Taunton. TA12HF 71 Rodborough, Yate, Bristol, BS37 8SG The Manse, Pilton Green, Rhossili. Swansea. SA3 1 PE -27-
THE CONGREGATIONAL FEDERATION LIMITED MANAGING TRUSTEES YEAR ENDED 31 DECEMBER 2023 Appendix 2 The Congregational Federation Limited Church Deeds held by The Congregational FederalK)n Limited where churches a closed and as such the propety responsibility falls to The Congregational Federation Limited. On sale, the distribution of the proceeds is determined by the Directors of The Congregational Federation Limited. The responsibility for the safekeeping of the assets lies with The Congregational Federation Limited. Delph, Oldham, Lancashiie Dudley, West Midlands Longney, GlourEster Middleton-by-WirksWOrth, Mauock. Derbyshire Agricultural Land Church Closed Church Closed Church Closed The following Graveyard Deeds are held by The Congregab'onal Federation Limited and as such the property responsibilty falls to The Congregational Federation Limited. The responsibility for the safekeeping of the assets lies with The Congregational Federation Limited. Bridlinglon Graveyard, Bridlington, Yorkshire Ford Graveyard, Kingsbridge, Devon Puddington Graveyard, Credilon, Devon Wilheridge Graveyard. Tiverton, Devon Graveyard Graveyard Graveyard Graveyard Charities for which The Congregalional Federation Limited are Managing Trustees. 310027 232332 214191 267469-1 New College London Foundation -congregats.onal United Charities John Dorsett Trust Zion Chapel Burial Ground- linked charity -28-