COMPANY REGISTRATION NUMBER: 01653722 CHARITY REGISTRATION NUMBER: 285707 Tower Hamlets Community Church Company Limited by Guarantee Unaudited Financial Statements 30 September 2024 Tower Hamlets Community Church Company Limited by Guarantee Flnancial Stalements Year ended 30 September 2024 Page Council members. report (inclLNJing directors. report) Independent examiner's report to the members of council Statement of financial activities (including income and expenditure account) Statement of financial position Notes to Ihe financial statements Tower Hamlets Community Church Company Limited by Guarantee Council Members. Report (Including Directors. Report) Year ended 30 September 2024 The directors, who are also the directors for the purposes of company law, present their report and the Jnaudiled financial slalements of the charty for the year ended 30 September 2024 . Rèference and adminlstratlve details Registered charity name Charity registration number Company registration number Prlncipal offico Tower Hamlets Community Church 285707 01653722 Lansbury LcKlge 117 Ricardo Street London E14 6EQ Registered office Lansbury Lodge 117 Ricardo Street London E14 6EQ The dlrectors John Day Simon Kempson Adèle May Company secretary John Day Structure. govemance and management The charity is a company limited by guarantee. Recnjitment and appointment of trustees None of the members of council has any tEneficial interesl in the company. All of Ihe members of council are members of the company and guaranlee to contribute £1 in the event of a winding up. Organisational structure The charty Is run by the Council whth meels several ￿"rnes each year. The charity employs full-time and part-lime pastoral and support staff vA)o deal with most of the day-to-day religK)us and administrab've matters. Relab'onship with related parties The Gharity aGts as solg trustee of The Compass Point Trust, a tharity which provides financial support for Chrislian church workers. Objectives and activities The ch3rity's objects are the proclamation and furtherance of the Chrislian faith, the relief of poverty, distress an(i sickness. and the adVan￿fflent of education. The policies adopted in furtherance of these objects are the running of a church and related youth acb"vities and Ihere has been no change in these during the year. Public benefit The members of council have paid due regard lo guidance issued by the Charity Commission in deciding what activities the charity should undertake. Strateglc report The following sections for athievements and perfomiance and finaniial review forn the strategic report of the charity. Achievements and performance Details of the charity's achievements during the year are set CAJt in a separate rew)rt of the trustees. Financial review The charity's income and expenditure for the year and financial FM)siti'on at the end of the year are summarised in the attached a￿oUnt$. The rrembers of Council consider the finanryal position lo be salisfactory. The council members, rewrt (including directors. report) and the strategic report were approved on 24 April 2025 and signed on behalf of the board of tnjstees by- John Day Director Tower Hamlets Community Church Company Limited by Guarantee Independent Examinerfs Report to the Members of Councll Year ended 30 September 2024 I report to the directors on my examination of the finanryal statements of Tower Hamlets Community Church Ilhe charity'l for the year ended 30 September 2024. Responslbilitiès and basls of report As the directors of the company land also its directors for the purposes of company lawl you are responsible for the preparation of the financial statements In accordance with the requirements of the Companies Act 20061'the 2006 Acl'l. Having satisfied myself that Ihe accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's accounts as carried out under section 145 of the Charit*s Act 2011 1.the 2011 Act,). In carrying out my examination I have followed the Directions given by Ihe Charity Commission under section 145(5Hb) of the 2011 Act. I￿lePendent examIne￿S statemènt Since the chanty's gross income exceeded £250.0￿ your examiner must be a member of a body listed in section 145 of Ihe 2011 Act. I confirm Ihal l am qualffied to undertake Ihe examination because l am a member of Ihe Institute of Chartered Accountants in England and Wales {ICAEW). which is 01￿ of the listed bodies. I have completed my examination. I confirni Ihat no matters have come to my attention in connection with the examination giving me cause to believe.. 1. accounting records were not kept In respect of the charity as required by section 386 of the 20￿ Act: or 2. the financial stslemenls do not accord with those ￿cordS,. or 3. the financial statements do not comply wtth the ￿￿UntI￿vj requirements of section 396 of the 20[￿ AGt other than any requiremenl that the accounts give a 'lrue and fairf view which is not a matter conshjered as part of an independent examinatiors.. or 4. the financial statements have not been prepared in accordan￿ the melhods and principles of the Ststement of Recommended Practice for accounting and re[￿1ng by charities appliCa￿e lo charities preparing their accounts in accordance with the Financial Reporting Standard applicabk in the UK and Republic of Ireland IFRS 102). I have no eoncerns and have corne across ro other matters in connection with the examinati(￿ to which attention should be drawn in this report in order to enable a prcper understanding of the accounts to be reaGhed. Jones & Graham Accountants Lld Independent Examiner 24 April 2025 Tower Hamlets Community Church Company Limited by Guarantee Statement of Financial Activities (Including Income and expenditure account) Year ended 30 September 2024 2024 2023 Unrestricted funds Restricted funds Total funds Total funds Note Income and endovrnents Donations and legacies Charitable activities 241.890 2.128 20.180 19.590 261,479 2,128 20,180 222,008 969 Investment income 19,251 Total Income 264.198 19.590 283,787 242.228 Expendlture Expenditure on charitable aclivilies 231.876 19.279 251,154 203.444 Total Èx￿nditUre 231.876 19.279 251,154 203,444 Net Income and net movement In funds 32.322 311 32.633 38,784 Reeonelllatlon of funds Total funds brought foNRrd 256.624 51,273 307.897 269.113 Total funds carried lorward 288,946 51,584 340.530 307,897 The statement of financial adivilies includes all gains and losses recognised in the year_ All income and expenditure denve from conb"nuing activib"es. Tower Hamlets Community Church Company Limited by Guarantee Statement of Financial Position 30 September 2024 2024 2023 Nole Flxed assets Tangible fixed assets Current assets Debtors 14 2,723 3,112 15 16,797 331.146 22,691 295,680 Cash at bank and in hand 347,943 318,371 Creditors: amounts falling due within one year 16 10,136 13,586 Net current assets 337.80T 304,785 Total assets1855 current liabllitles 340,530 307,89T Net assets 340,530 307,897 Funds ofthe eharlty Restricled funds 51,584 288,946 51,273 256,624 Unrestricted funds Total charity funds 19 340,530 307,897 For the year ending 30 September 2024 the charity was entided lo exemption from audit under section 477 of Ihe Companies Act 2006 relating to small companies. Directors. responsitxlities.. - The members have not required the lo obtain an audr( of ils financial statements for the year in question in accordance with section 476 ', The direciors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparal#)n of financjal ststements . These financial slalements have been prepared in accordance with ￿ provisK)ns applicable lo companies subject to the small companies, regime. These financial slat&menls were approved by the board of truslees and aulhorised for issue on 24 April 2025 , and are signed on behalf of the board by.. John Day Director Simon Kempson Oireclor Tower Hamlets Community Church Company Limited by Guarantee Notes to the Financial Statements Year ended 30 September 2024 1. General infomiation The charity is a public benefit enb'ty and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Lansbury Lodge, 117 Ricardo Street. London, E14 6EQ. 2. Statement of compllancè These financial stslements have been prepared in compliance with FRS 102. 'The Financial Reporting Standard applicable in the UK and the Republic of IrekrKI'. the Statemenl of Recommended Practice applicable to charities preparing their accounts in accordance with Ihe Financial Reporting Standard applicaL4e in the UK and Republic of Irgland IFRS 1021 (Charities SORP {FRS 102)) and the Companies Act 2￿6. 3. Accounting policies 40r risks The members of council have assessed th8 major risks lo which the charity is 8xposed, and are satisfied that systems are in place lo mitigate exposure to the Maj￿ risks. Basls of prèparation The financial slalemenls have been prepared on the historical cost basis, as nKKlified by the revaluation of cerlain financial assets and liabilities and investment propetb"e5 measured at fair value through income or expenditure. The financial statements are prepared in sterting, which is the functional cUrre￿Y of the entity. G￿ng concern There are no material uncertainties about the chanws ability to continue. Jud￿MentS and kèy sources of estimation uncertainty In the application ol the charity's acix)UT)ting policies, the members of coun(il are required to make judgements, eslimales and assumptions about the carrying amount of assets ané liabilities that are not readily apparent from other sources. The ests"mates and assoaated assumptions are based on hislorical experience and other factors that are consi(Jered lo be relevanl. Actual resulis may differ from Ihese eslimales. The eslimales and undertying assumptions are reviewed on an ongoing basis. Rev sions lo accounlng estimates are recognised in the period in which the estimate Is revised where the revision affels only that periDd, or in the period of the revision and future periods where the revision affects both current and future periods. Fund accounting It 15 the policy of the charity that unostricted funds which have not been designated for a specific use should be maintained at a level equivalent to belween Ihree ard six month's expenditure. The members of council consider that reserves al this level VAI ensure that. in the event of a significant drop in funding. they will be able lo continue the charivs current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throu￿Out the year. Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity- it is probable that the economic benefits associaled with the transaction will flow to the charity and Ihe an￿Unt can be reliably measured. The follomng specific poI￿leS are applied to particular categories of income.. income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and ils amount can be measured reliably. legacy incA)me is recognised when receipt is probable and enlitlernent is established. income from donated goods is measured at the fair vaue of the goods unless Ihis is impractical to measure reliably, in which case the value is derived from loe cost to Ihe donor or the estimated resale valu8. Donated facilities and servic£s are re￿gnISed in the accounts when received il the value can be reliably measured_ No amounts are included for the contribution of general vc.lunteers. incowne from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unreslricled funds unless there is a contractual requirement for it to be spent on a parlicular purpose and returned if unsp*nt. in which case il may be regarded as restricted. Resources expended ExpenditLJre is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered. and is dassified under headings of Ihe slatemenl of financi413ctivilies to which it relates.. expendilure on raising funds indudes the cosls of all lundraising activities, events, non-charilable trading activities, and the sale of donated goods. expenditure on tharitaNe activities includes all costs ir)curred by a charity in undertaking activiiies that further Ils charitable aims for the benefit of its beneficiaries. including those support costs and costs relating to the govemance of the charity apportioned to charitable activities. other expenditure includes 211 expènditure Ihal is neith&r related to raising funds fi)r the charity nor part of ils èxpenditure on charitable activities. All costs are allocated to expenditure categories refiectsng the use of Ihe resource. Direct costs attribLrtable to a Single activity are allocated directly to that activity. Shared Ix)sts are apportioned between the activities they contribute lo on a reasonable. justtfiable and consistent basis. Tangible assets Tangible assets are initially recorded at cosl. and sUbseqUen￿Y stat&J al cost less any accumulated depreciation and impairmenl losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation ar)d subsequent accumulated impairment losses. An increase in the carying amunt of an asset as a resurt of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within th8 statement of financial activities. A decrease in the carying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to it offsets any previous revaluation gain, in which (XS8 the loss is shown within other reC(￿nISed gains and lossès on lh& slatement of financial activili8s. Depreciation DepreG13t1￿ is calculated so as to write off the or valuation of an asset. less its residual value, over the useful economic life of that asset as follows= Fixlures and fittings Equipmenl Impairniont of fixed assets A review for indicators of impaimient is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value ex￿eedS the recoverable amount, the assel is impaired accordingly. Prior impaimients are also reviewed for possible reversal al each rep)rting date. For the purposes of impairment testing. when it is not possible to esb'mate the recoverable amount of an individual asset. an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generalirbg unil is the smallest identifiable group of assets that irdudes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of a55ets. For impairment testing of goodwill, the g00dv￿lI acquired in a business combination is. from the acquisition date. allocated to each of Ihe cash%enerating units that are expected to benefit frjm the synergies of the (xmnbination, i￿eSpective of whether other assets or liabilities of the charity are assigned to those units. Financial instruments The charity has ele¢ted to 8pply the provisions of Section 11 'Basi¢ Financial Instruments. 8fKI Section 12 '0ther Financial Instruments Issues. of FRS 102 to all of tts financial instruments. Financial instruments are recognised in the charitys balance sheet when the charity be￿rneS paty to the conlraclual provisions of the instrument. Financial assets and liabilities are offset, with the net amunts presented in the financial slatemenls, when there is a legally enforceable right to set off the recognised amounts and Ihere is an inlention to settle on a nel basis or to realise the asset and settle the liabilty simultaneously. Defined contribution plans contributs.ons lo defined contribution plans are recognised as an expense in the per￿ in which the related service is provided. Prepaid contributions are recognised as an assel to the exlent that the prepayment wll lead lo a reduction in future payments or a cash refuryj. When contributions are not expected to be setded wholly within 12 M￿th$ of ihe end of the reporting dale in which the employees render the relaled seryice. the liability is measured on a discounted present value ba￿s. The unwinding of the di￿￿)￿nI is recognised a5 an expense in the period in which it arises. 20¥0 straight line 25% straight line 4. Limited by guarantee The charity is a Gornpany limited by guaranlee. The members of council, who are also the directors for the purpose of company law. and whD served during the year and up lo the date of signature of the financial statements were: John Day Simon Kempson Adele May None of the membèrs of council has any beneficial interest in the company. All of Ihe members of council are mwnbers of the company and guarantee lo contribute £1 in the event of a winding up. S. Donations and legacies Unrestricted Funds Restricied Funds Totsl Funds 2024 Donations Donations and gifts Legacles Legacies Grants Other general grants 234.887 19.590 254,476 7,003 7,003 241,890 19.590 261,479 Unrestricted Funds Restricted FutMIs Total Funds 2023 Donations Donations and gifts Legacies L8gaci8s Grants Other general grants 206,239 8.521 214,760 5.000 2,248 2.248 213,487 8.521 222,008 6. Charitsble activities Unreslrithd Totsl Funds Funds 2024 Unrestricted Funds Tolal Funds 2023 Sales within charilable actiwty 2.128 2.128 969 969 7. Investment income unrestn.cted Total Funds Funds 2024 Unrestricted Funds Total Funds 2023 Other interesl receivable Rental income 4,249 15,931 4.249 15.931 1,f83 17,468 1.783 17,468 20.180 20.180 19,251 19,251 8. Expendlture on charltable actlvltles by fund type Unrestricted Funds Restricted Funds Total Funds 2024 Church activities SupFOrt of other Christian wo Suprx)rt costs 193.164 193.164 19,279 38.711 19.279 38.712 231.876 19.279 251,154 Unrestricted Funds Restricted FU￿1$ Total Funds 2023 Church activities Support of other Christian work Support costs 129,471 18,650 40.370 129,471 27.480 46.493 8,830 6.123 186,491 14,953 203.444 9. Expenditure on charitable activities by activity type Activities undertaken Grant funding of direcuy activities Support costs Total funds 2024 Total furbd 2023 Church aclivit'es 168.806 24.358 36.459 229.623 174.343 Supwrt of other Christian work 19.279 19.279 2.252 27,480 1,621 Govemance costs 2,252 168.806 43.637 38.711 251.154 203,444 10. Analysls of support costs Church acbvities Total 2024 Total 2023 Siaff costs 16,140 15.567 4,741 2,252 1,678 16,140 15,567 4.741 2,252 1,678 11.698 20,368 11.170 1,620 1.636 P￿miseS General office Governance ￿sts Depre(xation 40,378 40,378 46,492 11. Net income Nel income is slated after Charging1{￿editIngI-. 2024 2023 Depreciats'on of tangible fixed assets 1.678 1.636 12. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows.. 2024 2023 Vvages and salaries Employer o)ntributions to pension plans 129,516 11,253 99.812 8.912 140,769 108,724 The average head count of employees during the year was 612023.. 8)- No employee received ernployee benefi15 of more than £60.000 during the year {2023.' Nill. 13. Members of council None of the members of council (or any persons connected with them) re￿iVed any remuneration dLJring Ihe year. Total expenses reimbursed lo members of council {or any persons connected with them) during the year was £1,603. 14. Tangible fixed as$¢ts Fixtures and fittings Equipment Total Cost At 1 Oct 2023 10.649 1.289 1.057 11.706 1,289 Additions At 30 Sep 2024 11,938 1.057 12,995 Dèprèciation At 1 Od 2023 Charge for the year 7.8TI 1,415 717 8.594 1,678 263 At 30 Sep 2024 9.292 10,272 Carrylng amount At 30 Sep 2024 77 2.723 At 30 Sep 2023 2.772 340 3,112 15. Debtors 2024 2023 Trade debtors 6,088 1.704 9.005 3.700 1,518 17.473 Prepayments and accrued income Other debtors 16,797 22.691 16. Creditors: amounts falling duewithin one year 2024 2023 Trade creditors 3,292 4.131 2.713 2.529 9.632 1,425 Accruals and deferred income Other creditors 10,13 13,586 17. Dgf8rrgd income 2024 2023 Amount deferred in year 6.117 18. Penslons and other post retlrement beneffts Defingd contribution plans The amount recognised in incowne or expenditure a5 an expense in relation to defined contribution plans was £ 11.25312023- £ 8.9121. 19. Analysls of charltable funds Unrestrlcled funds At 30 Sep 2024 At 1 Oct 2023 Income Expenditure For future ￿paIrS lo property For support of rnini51ry activities General funds 86.845 9.600 29.300 225.298 12.300 121.514 (208.0621 94.145 16,130 178,671 161.435 256.624 264.198 1231.8761 288,946 At 30 Sep 2023 At 1 Oct 2022 Incom8 Exp8nditur8 For future repairs lo property For suppori of ministry acliviknes General funds 81.011 9.600 22.800 201.307 (3.7661 {23,3(YJl (161,4251 86.845 121,553 161,435 211,408 233.707 1188,4911 256,624 Restricted funds At 30 Sep 2024 At 1 Oct 2023 Incom& Expenditu Support of activities abroad Building fund 3,020 48.253 19.590 19.2791 3,331 48,253 51.273 19.590 119.279) 51,584 At 30 Sep 2023 At 1 Oct 2022 Income Expenditure Support of activities abroad uilding fund 3,329 54.376 8.521 (8,8301 {6.1231 3,020 48.253 57.705 8.521 (14.9531 51,273 This document was delivered using electronic communications and authenticated in accordance with ihe registrar's mles relating to electronic fomi, authenticatior and manner of delivery under sectioi) 1072 of the Companies Act ?006.