REGISTERED CHARITY NUMBER:273454
Charities Administered in Connection with the Evangelical Fellowship of Congregational Churches
Financial Statements
31 December 2024
SD-0217808-1-6
Charities Administered in Connection with the Evangelical Fellowship of Congregational Churches
Contents (continued)
| Reference and Administrative Details | 1 |
|---|---|
| Trustees's Report | 2 to 4 |
| Statement of Trustees's Responsibilities | 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 to 20 |
Charities Administered in Connection with the Evangelical Fellowship of Congregational Churches
Reference and Administrative Details
Trustees
The EFCC Trust Corporation
Charity Registration Number 273454 Principal Office Latimer Congregational Church Grovehill Road Beverley HU17 0JD Independent Examiner Smailes Goldie Chartered Accountants Regent's Court Princess Street Hull HU2 8BA Solicitors Pothecary Witham Weld Solicitors 84 Eccleston Square Pimlico London SW1V 1PX Wrigleys Solicitors LLP 3 Wellington Place Leeds LS1 4AP Bankers Charities Aid Foundation West Malling Kent ME19 4TA
Page 1
Charities Administered in Connection with the Evangelical Fellowship of Congregational Churches
Trustees's Report
The trustee presents the annual report together with the financial statements of the charity for the year ended 31 December 2024.
The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
Objectives and activities
Objects and aims
The objects of the charity are to provide and promote fellowship between Evangelical Congregational Churches. The charity operates with volunteers. It is connected to the following charity:
262802 The Evangelical Fellowship of Congregational Churches General Purpose Fund.
1127720 The Evangelical Fellowship of Congregational Churches Trust Corporation Limited.
Training for the ministry of the congregational denomination which may include the payment of grants to persons in need of financial assistance during training with preference being given to persons who are members of churches in membership with an Evangelical Fellowship of Congregational Churches.
The upkeep and repair of the buildings of member churches and the maintenance of services therein. The improvement or extension of the buildings of member churches. The provision or erection of buildings in England and Wales for use for the purposes of congregational churches or as residences for ministers of such churches.
To relieve in cases of need persons who have at any time been ministers of any of the member churches and the wives, widows and other dependents of such persons.
The benefit of the children of ministers of any of the member churches.
To further the religious and other charitable work of member churches and subject thereto for the advancement of religion in England and Wales in accordance with the doctrines and practices of the congregational denomination.
To make grants to member churches to be applied in or towards paying the stipends of ministers of member churches or maintaining the ministry therein and subject thereto in or towards maintaining the ministry in congregational churches in England or Wales.
To provide and maintain land and buildings for use as residences for retired ministers who have at any time been ministers of any of the member churches and the wives and widows of such ministers or in assisting such ministers and the wives and widows of such ministers to obtain residential accommodation by the granting to them of loans or of rent or other hire charges payable by them in respect of such residential accommodation.
Public benefit
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Page 2
Charities Administered in Connection with the Evangelical Fellowship of Congregational Churches
Trustees's Report (continued)
Achievements and performance
During the year the charity continued to support and promote the work of The Evangelical Fellowship of Congregational Churches throughout England and Wales and the financial activities are set out on pages 8 to 21. The charity's income is applied to the support and employment of individuals, the resourcing of activities, grants and donations to third parties and general administrative and property costs. The trustees have considered the Commission's guidance on public beneift and are of the opinion that this is fulfilled by the charity's continued support of establishments for the advancement of religion.
The charity's financial position at 31st December 2024 is considered to be satisfactory. The charity's assets are available and adequate to fulfil its obligations.
Financial review
Plans for future periods
The Ministry Director encourages church growth and the appropriate use of funds.
Ministers will continue to be circulated in order to identify those on low stipends that would benefit from the charity's help.
Structure, governance and management
Nature of governing document
The charity was registered with the Charity Comission under Reference 273454 and its governing instruction adopted on 26th July, 1977 and is structured in accordance with the Trust Corporation Memorandum dated 5th January, 1993.
Throughout the year the trust was administered by The Evangelical Fellowship of Congregational Churches Trust Corporation Limited. The power of appointment of new Trustees to the Trust lies with the existing trustees. New trustees are appointed with a view to the board of trustees providing the complementary mix of skills necessary to perform the trustees' function. Trustees are encouraged to obtain training so as to increase their skills, such training being funded by the charity.
The Trustees meet approximately four times a year, together with such further ad-hoc meetings as and when required. All key decisions relating to the running and operation of the charity are made by the Charity's Trustees. Day to day operational decisions relating to the running of the charity's are delegated to the Ministry Director, Office Manager and administration staff.
The responsibility to ensure appropriate management of the charity is vested in the Board of Trustees. To assist the Board in discharging and achieving its responsibilities a General Committee, of which the Chairman and Vice Chairman are trustees, takes responsibility for the pastoral concerns of the member churches, the acceptance of new churches into the membership, support and advice for member churches and the ministers conference.
Page 3
Charities Administered in Connection with the Evangelical Fellowship of Congregational Churches
Trustees's Report (continued)
Risk management
The trustees have conducted a review of the major risks to which the charity is exposed and appropriate systems have been established to mitigate those risks. These include the implementation and monitoring of policies relating to Health and Safety, Internal Financial Controls and Reserves.
In particular internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the charity. These procedures are regularly reviewed to ensure that they still meet the needs of the charity.
Reserves Policy
Endowment funds
Endowment funds received are retained as reserves and the income is transferred to unrestricted funds to be used for the benefit of the trust.
Restricted funds
Restricted funds received are retained as reserves and the income generated is used to fulfil the objects of the trust.
Designated funds
These funds have been set aside by the trustees to provide homes for retired ministers.
Unrestricted funds
Reserves are retained to enable future operations to be funded for a period of up to one year, after taking into account anticipated net income for that period.
The annual report was approved by the Board of Trustees on 25 March 2025 and signed on its behalf by:
.........................................
G Evans for and on behald of The EFCC Trust Corporation Limited Trustee
Page 4
Charities Administered in Connection with the Evangelical Fellowship of Congregational Churches
Statement of Trustees's Responsibilities
The trustees is responsible for preparing the trustees's report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustee is required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustee is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustee is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees is responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the Board of Trustees on 25 March 2025 and signed on its behalf by:
......................................... The EFCC Trust Corporation Trustee
Page 5
Charities Administered in Connection with the Evangelical Fellowship of Congregational Churches Independent Examiner's Report to the trustee of Charities Administered in Connection with the Evangelical Fellowship of Congregational Churches
I report to the trustees on my examination of the accounts of Charities Administered in Connection with the Evangelical Fellowship of Congregational Churches for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity trustees of Charities Administered in Connection with the Evangelical Fellowship of Congregational Churches you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Charities Administered in Connection with the Evangelical Fellowship of Congregational Churches's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of Charities Administered in Connection with the Evangelical Fellowship of Congregational Churches as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements concerning the form and content 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 to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
...................................... Luke Taylor BSc (Hons) FCA Chartered Accountants Regent's Court Princess Street Hull HU2 8BA
25 March 2025
Page 6
Charities Administered in Connection with the Evangelical Fellowship of Congregational Churches
Statement of Financial Activities for the Year Ended 31 December 2024
| Note Income and Endowments from: Donations and legacies Investment income 2 Total income Expenditure on: Charitable activities 3 Gains/losses on investment assets Net income Gross transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 11 |
Unrestricted funds £ 20,944 26,700 47,644 (33,064) 4,506 19,086 (33,683) (14,597) 664,595 649,998 |
Designated funds £ - 27,581 27,581 - - 27,581 18,000 45,581 810,705 856,286 |
Restricted funds £ - 46,542 46,542 (34,919) 8,666 20,289 15,683 35,972 573,502 609,474 |
Endowment funds £ - - - - 2,372 2,372 - 2,372 805,182 807,554 |
Total 2024 £ 20,944 100,823 121,767 (67,983) 15,544 69,328 - 69,328 2,853,984 2,923,312 |
Total 2023 £ 944 91,071 |
|||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 92,015 | |||||||||||
| (73,150) | |||||||||||
| 15,526 | |||||||||||
| 34,391 | |||||||||||
| - | |||||||||||
| 34,391 2,819,593 |
|||||||||||
| 2,853,984 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 11.
The notes on pages 9 to 20 form an integral part of these financial statements. Page 7
Charities Administered in Connection with the Evangelical Fellowship of Congregational Churches
(Registration number: 273454) Balance Sheet as at 31 December 2024
| Note Fixed assets Tangible assets 7 Investments 8 Current assets Debtors 9 Cash at bank and in hand Creditors: Amounts falling due within one year 10 Net current assets Net assets Funds of the charity: Endowment funds Restricted income funds Restricted funds 11 Unrestricted income funds General funds Designated funds Total unrestricted funds Total funds 11 |
2024 £ 205,085 2,244,939 2,450,024 281,768 205,893 487,661 (14,373) 473,288 2,923,312 807,554 609,474 649,998 856,286 1,506,284 2,923,312 |
2023 £ 205,085 2,229,395 |
|---|---|---|
| 2,434,480 | ||
| 284,808 153,867 |
||
| 438,675 (19,171) |
||
| 419,504 | ||
| 2,853,984 | ||
| 805,182 | ||
| 573,502 664,595 810,705 |
||
| 1,475,300 | ||
| 2,853,984 |
The financial statements on pages 7 to 20 were approved by the Board of Trustees, and authorised for issue on 25 March 2025 and signed on behalf by:
.........................................
G Evans for and on behalf of The EFCC Trust Corporation
The notes on pages 9 to 20 form an integral part of these financial statements. Page 8
Charities Administered in Connection with the Evangelical Fellowship of Congregational Churches
Notes to the Financial Statements for the Year Ended 31 December 2024
1 Accounting policies
The financial statements of the charity have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011.
Basis of preparation
The charity meets the definition of a public benefit entity under FRS 102. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Going concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees considered the level of funds held and the expected level of income and expenditure for 12 months from authorising the financial statements.The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
Income and endowments
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are accounted for on an accruals basis and allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.
Taxation
The charity is exempt from tax on charitable activities.
Tangible fixed assets
Tangible fixed assets are capitalised and included at cost including any incidntal expenses of acquisition. Expenditure of a capital nature is capitalised when the amount expended per item is over £500.
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Charities Administered in Connection with the Evangelical Fellowship of Congregational Churches
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
Depreciation and amortisation
Asset class
Freehold properties
Long leasehold
Depreciation method and rate
The freehold and leasehold properties are maintained in a state of repair such that their estimated remaining economic life is expected to exceed 50 years and on this basis depreciation is not charged. Over the period of the lease.
Fixed Assets - Consecrated Land and Buildings
Consecrated and beneficed property is excluded from the financial states by s10(2)(a) and (c) of the Charities Act 2011.
All expenditure incurred during the year on consecrated or beneficed buildings and moveable church furnishings, whether maintenance or improvement, is written off as expenditure in the Statement of Financial Activities.
Investment properties
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
Fixed asset investments
Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.
Trade debtors
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Page 10
Charities Administered in Connection with the Evangelical Fellowship of Congregational Churches
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Endowment funds are funds that were donated to the charity at its inception. They are retained as reserves and the income is transferred to unrestricted funds to be used for the benefit of the charity.
2 Investment income
| 2 Investment income |
||
|---|---|---|
| Investment income Income from rents |
Total 2024 £ 73,242 27,581 100,823 |
Total 2023 £ 66,097 24,974 |
| 91,071 |
Page 11
Charities Administered in Connection with the Evangelical Fellowship of Congregational Churches
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
3 Expenditure on charitable activities
| Ministerial training and church support Homes for Retired ministers General purpose Welfare Church extension Education |
Activity undertaken directly £ - 28,952 30,712 925 - - 60,589 |
Activity support costs £ 2,080 1,376 2,352 595 909 82 7,394 |
2024 £ 2,080 30,328 33,064 1,520 909 82 67,983 |
2023 £ 1,878 27,894 38,410 4,162 733 73 |
|---|---|---|---|---|
| 73,150 |
4 Trustees remuneration and expenses
The trustees being the EFCC Trust Corporation Limited cannot receive remuneration from the charity. However during the year, 2 trustees of the corporate trustee received pension payments totalling £540 (2023: £1,080).
Trustees' expenses
There were no trustees' expenses paid for the year end 31st December 2024 nor for the year ended 31st December 2023.
5 Independent examiner's remuneration
| 5 Independent examiner's remuneration |
||
|---|---|---|
| Other fees to examiners The examining of accounts of any associate of the charity All other services |
2024 £ 983 6,411 7,394 |
2023 £ 890 5,807 |
| 6,697 |
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Charities Administered in Connection with the Evangelical Fellowship of Congregational Churches
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
6 Comparative SOFA
| Note Unrestricted funds £ Designated funds £ Income and Endowments from: Donations and legacies 944 - Investment income 2 24,183 24,974 Total income 25,127 24,974 Expenditure on: Charitable activities (38,410) - Gains/losses on investment assets 32,742 (15,000) Net income/(expenditure) 19,459 9,974 Reconciliation of funds Total funds brought forward 645,136 800,731 Total funds carried forward 11 664,595 810,705 |
Restricted funds £ Endowment funds £ - - 41,914 - 41,914 - (34,740) - 4,271 (6,487) 11,445 (6,487) 562,057 811,669 573,502 805,182 |
Total 2023 £ 944 91,071 |
|---|---|---|
| 92,015 (73,150) 15,526 |
||
| 34,391 2,819,593 |
||
| 2,853,984 |
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Charities Administered in Connection with the Evangelical Fellowship of Congregational Churches
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
7 Tangible fixed assets
| 7 Tangible fixed assets |
|||
|---|---|---|---|
| Cost At 1 January 2024 At 31 December 2024 Net book value At 31 December 2024 At 31 December 2023 |
Freehold property £ 143,038 143,038 143,038 143,038 |
Leasehold property £ 62,047 62,047 62,047 62,047 |
Total £ 205,085 |
| 205,085 | |||
| 205,085 | |||
| 205,085 |
8 Fixed asset investments
| Investment properties Cost or Valuation At 1 January 2024 At 31 December 2024 Net book value At 31 December 2024 At 31 December 2023 |
£ 630,000 |
|---|---|
| 630,000 | |
| 630,000 | |
| 630,000 |
The trustees confirm that to the best of their knowledge and having taken appropriate professional advice that the valuations above are consistent with the fair value of the properties at 31 December 2024.
Page 14
Charities Administered in Connection with the Evangelical Fellowship of Congregational Churches
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
Other investments
| Cost or Valuation At 1 January 2024 Revaluation At 31 December 2024 Net book value At 31 December 2024 At 31 December 2023 Analysis of investments: UK Equity & Equity Fund Global Equities & Equities Funds Multi Asset Funds Direct Property & Property Funds Fixed Interest & Fixed Interest Funds Other Assets Total Cash Charity UK Bonds Investments exceeding 5% of market value of portfolio: Conbrio FN PTN Ltd CFP Castlefield Real Return Conbrio FD PTN Ltd Castlefield Best Sust Income Gen M&G Equities Funds for Charities (Charifund) Sterling Income First Sentier Inv SI Wldwide Sust B GBP Dis CFP Castlefield FD CFP Castlefield Thoughtful European Fund Sarasin Funds ICVC Sarasin Responsible Global Equity |
2024 £ 729,801 401,474 210,126 34,785 38,401 199,055 1,297 - 1,614,939 2024 £ 120,427 210,126 592,908 86,224 85,672 125,164 |
Listed investments £ 1,599,395 15,544 |
|---|---|---|
| 1,614,939 | ||
| 1,614,939 | ||
| 1,599,395 | ||
| 2023 £ 660,940 369,063 212,424 28,947 109,589 197,945 18,249 2,238 |
||
| 1,599,395 | ||
| 2023 £ 116,449 212,424 577,844 82,665 79,116 39,499 |
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Charities Administered in Connection with the Evangelical Fellowship of Congregational Churches
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
9 Debtors
| 9 Debtors |
||
|---|---|---|
| Investments made by EFCC Trust Corporation EFCC Trust Corporation Bridgenorth Loan 10 Creditors: amounts falling due within one year EFCC General Purposes Fund |
2024 £ 271,885 9,883 - 281,768 2024 £ 14,373 |
2023 £ 271,885 11,317 1,606 |
| 284,808 | ||
| 2023 £ 19,171 |
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Charities Administered in Connection with the Evangelical Fellowship of Congregational Churches
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
11 Funds
| Unrestricted funds General General funds Designated Homes for retired Ministers Total unrestricted funds Restricted funds Ministerial training Church extension Welfare Educational Homes for retired Ministers Total restricted funds Endowment funds Permanent Ministerial training Church extension Welfare |
Balance at 1 January 2024 £ 664,595 810,705 1,475,300 339,831 86,501 139,984 6,959 227 573,502 5,295 197,923 36,690 |
Incoming resources £ 47,644 27,581 75,225 10,172 15,255 6,232 469 14,414 46,542 - - - Page 17 |
Resources expended £ (33,064) - (33,064) (2,080) (909) (1,520) (82) (30,328) (34,919) - - - |
Transfers £ (33,683) 18,000 (15,683) - - - - 15,683 15,683 - - - |
Other recognised gains/(losses) £ 4,506 - 4,506 5,801 1,115 1,741 5 4 8,666 15 584 109 |
Balance at 31 December 2024 £ 649,998 856,286 |
|---|---|---|---|---|---|---|
| 1,506,284 | ||||||
| 353,724 101,962 146,437 7,351 - |
||||||
| 609,474 | ||||||
| 5,310 198,507 36,799 |
Charities Administered in Connection with the Evangelical Fellowship of Congregational Churches
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
| Educational General purpose Maintenance of the Ministry Homes for retired Ministers Total funds Unrestricted funds General General funds Designated Homes for retired Ministers Total unrestricted funds |
Balance at 1 January 2024 £ 8,803 261,409 37,108 257,954 805,182 2,853,984 Balance at 1 January 2023 £ 645,136 800,731 1,445,867 |
Incoming resources £ - - - - - 121,767 Incoming resources £ 25,127 24,974 50,101 |
Resources expended £ - - - - - (67,983) Resources expended £ (38,410) - (38,410) |
Transfers £ - - - - - - Transfers £ 15,000 (15,000) - |
Other recognised gains/(losses) £ 26 771 110 757 2,372 15,544 Other recognised gains/(losses) £ 17,742 - 17,742 |
Balance at 31 December 2024 £ 8,829 262,180 37,218 258,711 |
|---|---|---|---|---|---|---|
| 807,554 | ||||||
| 2,923,312 | ||||||
| Balance at 31 December 2023 £ 664,595 810,705 |
||||||
| 1,475,300 |
Page 18
Charities Administered in Connection with the Evangelical Fellowship of Congregational Churches
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
| Restricted Ministerial training Church extension Welfare Educational Homes for retired Ministers Total restricted funds Endowment funds Permanent Ministerial training Church extension Welfare Educational General purpose Maintenance of the Ministry Homes for retired Ministers Total funds |
Balance at 1 January 2023 £ 327,489 74,500 138,567 6,601 14,900 562,057 5,337 199,518 36,986 8,874 263,516 37,407 260,031 811,669 2,819,593 |
Incoming resources £ 9,186 13,347 5,725 431 13,225 41,914 - - - - - - - - 92,015 |
Resources expended £ (1,878) (733) (4,162) (73) (27,894) (34,740) - - - - - - - - (73,150) |
Transfers £ - - - - - - - - - - - - - - - |
Other recognised gains/(losses) £ 5,034 (613) (146) - (4) 4,271 (42) (1,595) (296) (71) (2,107) (299) (2,077) (6,487) 15,526 |
Balance at 31 December 2023 £ 339,831 86,501 139,984 6,959 227 |
|---|---|---|---|---|---|---|
| 573,502 | ||||||
| 5,295 197,923 36,690 8,803 261,409 37,108 257,954 |
||||||
| 805,182 | ||||||
| 2,853,984 |
Page 19
Charities Administered in Connection with the Evangelical Fellowship of Congregational Churches
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
12 Analysis of net assets between funds
| Tangible fixed assets Fixed asset investments Current assets Current liabilities Total net assets Tangible fixed assets Fixed asset investments Programme related investments Current assets Total net assets |
Unrestricted funds General £ Designated £ - 205,085 487,084 390,000 177,287 261,201 (14,373) - 649,998 856,286 Unrestricted funds General £ Designated £ - 205,085 500,578 372,000 183,188 233,620 (19,171) - 664,595 810,705 |
Restricted funds £ - 560,301 49,173 - 609,474 Restricted funds £ - 551,635 21,867 - 573,502 |
Endowment funds Permanent £ - 807,554 - - 807,554 Endowment funds Permanent £ - 805,182 - - 805,182 |
Total funds at 31 December 2024 £ 205,085 2,244,939 487,661 (14,373) |
|---|---|---|---|---|
| 2,923,312 | ||||
| Total funds at 31 December 2023 £ 205,085 2,229,395 438,675 (19,171) |
||||
| 2,853,984 |
13 Related party transactions
At the year end the following balances were due from / (to) related parties:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| EFCC Trust Corporation | 281,768 | 283,202 |
| Bridgenorth | - | 1,606 |
| EFCC General Purposes Fund | (14,373) | (19,171) |
Page 20