The Churches of God in UK (Formerly The Church of God in UK) (A Company Limited by Guarantee) Annual Report and Financial Statements Year ended 31 March 2024 Charty number: 298835 Company Number.. 2350280 Feltons Chartered Accountants Birmingham B13JR The Churches of God In UK IA Company Limited by Guarantee) Report and financial statements Year ended 31 March 2024 Contents Page Reference and adminislralNe details Report of Ihe trustees Independent auditorfs report on the financial statements statement of financial activities incorporating income & expenditure account 10 Balance sheet 11 Cash flow statement 12 Notes forming part of the financial statements, incorporating Statement of accounting policies 13 other notes to the financial statements 16 The Churches of God in UK IA Company Limited by Guarantee) Reference and Administrative Details Trustees Tsz Lai Choy Oi Wang Tam Kam Yiu Tsang Choy Kwai Lam Kam Tong Lau Wai Kwong Leung Company secretary Kenny Wen9 Seng Lock Registered offiee 18 Croydon Road Beddington Croydon CRO 4PA Charity numb8r 298835 Company reglslralion number 2350280 Auditor Fettons 8 Sovereign Court 8 Graham Streel Birmingham B1 &JR Bankers HSBC Bank Pl¢ 421 Brixton Road London SW9 8HE Pagè 1 The Churches of God in UK {A Company Limited by Guaranteel Report ot thè trustees Yearended 31 March 2024 The trustees present their annual rewrt and financial statements of the charity for the year ended 31 March 2024. Referen￿ and administrative informalTon sel out on page 1 form5 part of this ￿pOrt. The financial ststemellt5 ompty wth current 5ts1utory ￿qUIre￿￿ents, the charity's goveining documents. and the Staternenl of Recommended Practice". Arxounlrn9 and Reportlng by Charities preparing their accounts in accordance with Ihe Financial Rep¢Kting Standard appficable in the UK and Republic ol Ireland IFRS1021 Issued on 16 July 2014, a5 updated on 2 February 2016 ISORP 20151, and the FlnaTrcial Rep¢yting Standard applicable in the Unlled Kingdom and Republic of Ireland IFRS 1021. Taking advantage of the small chafities provlsion In Se¢tioD 4.6 and 4.224.26 of Ihe same SORP, the trustees have ￿Ported incorne and expenditure on a natural basis. STRUCTURE. GOVERANCE, AND MANAGEMENT The charity is a charitable compary limited by guarantee and is govemed by a me[￿r￿ndUffl and artides of as50ciation date¢J 25 October 1988. Pur¢hasos and aims, and principal activities The objective and prwiapal activity of the charity is Ihe advancement of the Christian ￿lIg￿)n, for the public benefit, through faith-based activits'es. including wngregalions, visits, cell group, youth developrnent, Sunday schDoI, 8nd other charltable activits'es. Policies adopted for the inductlorh and tra5nln9 of Board of Trustegs Where need is identified, new trustees are selected mainly from within the Matured Chri$lians in the congregation. Current Tru51ees Identify other mernb8rs of the congregation who are consKlered lo have the necessary skills, interests. and spiritual understanding of (Mjr Christian teaching in furthering the faith of Christianity through various charitable work. Related party rèlationshlp The ¢horily has consldered the d18closu￿ requirements of the SORP for relaled party relath?nship$. The charity has no re￿ted party connectlons with other organi5ations. The trustees C(￿S1der that the members of the board and their dose connedions to be the only related parties of the charity. Details of trustee exp¢nses and related party transactions are disdosed In noles 5 and 6 to the accounts. Rlsk management The Trustees have ¢¢￿sidered the kèy risks affecting the charity ènd we satisfied that measures a￿ ¥n ptace to milrgale those Tisks. Achlevements and Perfomianee As of March 31. 2024. our Cong￿gatIOnS havè Experienced continuous growth, surpassing 1.100 attendees. 8 2W• increase cornpared lo the previoLrs yèar. We a￿ also delighted to announce the establi5hrnent of three new branches in Bristol. Chester. and Crewe. Thi5 exp8n$ion brings our wesence to 21 ulies and towns acr05S the UK. serving rnore than 800 farnilies in our community. Page 2 The Chur¢he$ ofGod in UK IA Company Lirniled by Guarantee) Report of the trustees Icontlnuedl In response to the growi￿ number of Hong Kong irnmigrants maklng the UK their new home, we have ¢on$istently rented ￿h0O18 and public halls to provide a divp15e Tange of charitable activities and services. addressing the various needs of our community. Looking ahead to the next year, our visran is to further e¥lend our reach across the UK, aiming to be present in a total of 22 cities and town$. Our commitment remains unwavering in woviding soual and Spiritual 5upporl to all who be￿eTit from our seNices. AddilK)nally, we have dispatched 22 volunteers as mlssSon teams to Poland and Kenya to support charitable a¢twities and d)urch pjanting effort5. Our full-time volunteers have been cr￿181 in supporting our churth ministry, offerfng charitable Services, p￿athIng and ministering to allendees. We exterNI ou¥ heartfelt giatilude lo all our full-lime volunteers, ¢￿lleCt￿e￿ conttibuled over 47.￿0 volunteer hours in 2023-24. sn ir￿reaSe from 44.wo hours in 2022.23. statement of Public benefit The Board of Trustees confiNn that they have complied with their duty to have due regard to the guidan￿ on public ber*fit published by the Ch8rity Commlssion in exerci51ry their powers ow dulie5. FINANCIAL REVIEW Flnanclal Posluon During the year the charity incurred net expenditure of £127.655 Icornpared ¢0 nel expenditure ol £160.730 last yearl. reducing total funds from £368,833 to £241,178. Tot81 income for the year amounted to £288.89212023- £193.504}. includlng donalions lrnainly from rrErnbersl of £265,180 {2023- £163.3141. gift aid daims lotalling £9,29212023- £17,812>, and bank interest income anK)unling to £13,90312023- £6,930) Total expenditure forthe year am￿nted to £416.54712023- £354.2341, induding rent and room hire costs arnounting to £152.421 12023- £112.2301, depredation on fixed assets 01£118.17912023- £97,946). and donations to other charities of £16,18912023- £30.0001, Restricted funds. represelltiTrJ projec¢ fvnds recetved but not yel expended, Increased from £27,429 10 £31,809. unrestr￿le￿ funds decreased from £341,404 10 £209,369. The Iruslees CC￿sIder Ihls posliion to be ad¢quate and aim lo build and relain ieserves lo cover months operating costs. Resèrve5 Policy The tharlty currently has no reserve5 policy. Pag¢ 3 The Churches ofGod in UK IA Company Limited by Guarantsel Report of the trustoes {¢ontinuedl Going Concem After making appropriate enquiries. the Irustees have a reasonable expectatvjn that the charity ha$ 3dequate resources lo continue in operational existen￿ for the ￿e$eeable ftjlure. For this reason, they continue to adopt the golrtg concems basis in preparing the financial Statements. TRUSTEES, RESPONSIBIUTIES IN RELATION TO THE FINANCIAL STATEMENTS The ¢haritytrustees are responsible lor preparing a trustees. annual report and financial statements in accordancs wlih applicabla law and Untted Kingdom Accounting Standards (United ￿ngdorn Generally Accepted Accounting Practicel. The law applicable lo charities in England 8nd Wales requires the charity tru5tee5 to prepare finanoal statements for each year which give a true and fair v¢ew ol the stale of affairs of the charity and of the incorning resources and applicatlDll of resources. ol the charity for that pertod. In preparing the financial slalements, the trustees aro required to: Sd2Ct 5Ultable accounting polici8s and Ihen apply Ihem conslstenlly., Observe the methods and principles in the applicable Charities SORP.. Make judgements and estimates that are reasonable and prudent., Stale whether applicable accounting standards have been followed. subjed to any rn81erial departures disclosed and explained In the financial slalements,. Prepare the financial statements on the goin9 concern basis unless it is inappropriate to assume that the group will conllnue In business. The trustees are responsSble for keeping proper accounting records that dlsdose wlth reasonable accuracy at any lime the financial position of the char￿Y and lo enable them to ensure that the financial staiefflents cornply with the Cttarities Act 2011. the applicable Charitie8 IAccounls and Reports) Regulations. and the provisions of the Charilrfs goveming document. They are also responsible lor 58feguarding the assets of the ¢haThty 8nd taknng rea50nable Steps for the prevention and detection of fraud and other Iriegularitios. The tIU51ee5 are responsible for the Maintenan￿ and integrity of the charity and fin￿¢181 information Included on the ¢hariV$ website in aw¢Ydan￿ with legislation in the United FQngdom governIng the preparobon and dissemination of ftnallcial 5taternents. Dlsclosure of infomiation to audltor In so far as the trustees a￿ aware.. there is no relevant audit information ofwhich the charitable ￿mpanY3 8u(fitor is unaware: aTh the trustees have taken all steps that they ought to have taken to make themselves aware of any relevanl audit inknmalion and to estaL￿1$h that the auditor is oware of that infortnalion. Audilor Fettons has expressed their wiplingness to continue in office. Page 4 The Churchgs ofGod in UK IA Company Llmited by Guarantee) Report of the trustees Icontinuedl PREPARATION OF THE REPORT Thi5 report has been prepared tsking advantage of thè small companps exernption of section 415A of the Companie5 Act 20(fj. APPROVAL OF THE REPORT This rep￿t was apFYoved by the Board ofTrnstees on 14-10-2024 and signad on their behalf by.. Trustee Tsi Lai Choy Trustee Page 5 Independent Auditor's Report to thg Trustee5 of The Churche5 of God in UK (A Company Limlted by Guarantee) Opinion We have audited the finartcial Stater￿nts ol The Churcha$ d God in UK Ilhe'tharitable company'l for the year end8d 31 March 2024 which comprise the Statement ol FinanGial Activities, the Balance Sheet. the Stslemenl of Cash Flows and notes to the financial statements. including signif￿ant accounting policies. The financial rèporting framework that has bèen 8pplied in their p￿paratiOn is applicable law and Unrted Kirsgdorn Accounting Standards. includin9 Financial Reporting Standard 102 "The Financi81 Reporting Standard applicable in the UK and Republic of Ireland. (United Kingdom Generally Ae¢epled Accountlng Practice). In our opinion the Iinancial statements. glve a true and fair view of the stale ol the charitable cornpany's affai15 as al 31 fvlarch 2024. and ol Its inwming resources and application ol resource5, including Ils income and expenditure, loi the year then ended.. have been propèrly prepa￿d in ¥cordance with UTrited Kingdom Generally Accepted Accujnting Practlce.. and hav2 been prepared in accordance with the reqLriretnents of the Companles Act 201%. Basis for opinign Vve conducted our audit in accordance with InternatiDnal Standards on Auditing IUKI IISAS IUKII #nd applicable law. Our responsibilil'es under those Standards are fijrther described in the Auditor's responsibililia5 for the audit of the rinancial slalements séction ol our report. We are independent of the charllable cornpany in accordance with the ethical requirements Ihal are ￿levant to our audit of the linarncial slalements in the UK. including the FRC's Ethical standard. and we have fulfilled our other ethical resp)nsibilitie$ in accordance wlh th¢5e requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo prowde a basi5 forour cpinion. Conclusions relallng to golng coneern In auditing Ihe financial 8tatements. we have concluded that the trustees, use of the conegrn basis of accounti in the preparation ol the financlal statements is appropriate. Based on the work we have performed, we have not idenlified any Materi￿ uncertainltes relating to events or conditions that, individually or collectively. may cast significant doubt on the charitable company's ability to continue as a going concern for a period of al l¢asl thlve month5 ffom when the financial slalements are aulh0ri5ed for issue. Our responsibilities and the resp¢nsibilities ol the trustees with respect to going concern are described in the relèvant sections of this reporL Other Information The olher information comprises the infottnalion included in the Iru5tees annual report, other than the financial statements and our auditor's report ihereon. The tr4JStees are re5pon5ible for the other Informal￿n contained wlhin the annual report. Our opinion on the financial slalemenls does not c¢ver the other inlormats'on and, except to the extent olherwi3e explicitly stated in our report, we do not exp￿$ any form ￿ assurance cor)clusion Ihereon. Page 6 Independent Auditor's Report to the Trustees of The Churches of God In UK (A Company Limited by Guarantee) (continued) OUT responsibility is lo read the other inlormalion ¥d, in doing so. ronsider whether Ihe other information is materially incon$i51ent with the financial statement5 or our knowledge obtained in the Course ol the au(fil or otherwise sppears to be materially misstated. If we identify such mai8rial inconsistencies or appa￿Trt material rnis51atemenls. we are required lo detemine whether this gives rise Io 8 material rnisstalement in the financial statements themselves. If, based OTr the work we have performed, we conclude that therè is a material misslatemenl of this other inlormatign. we are required lo report that fact We have ￿thing lo report in this regard. Opinion on other matters prescribed by the Companie5 Act 2006 In our opinron, based on the work undertaken in the course ol the audit.. the information given in the TrLt5tees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements,. at)d the Trustees. Report has been prepared in accordance wlth appllcable legal requirements. Mattets on whi¢h we are required to report by excepuon In the light of our knowledge 3nd understanding ol the cornpany an¢J ils environrnenl ot*ained in ¢he course of the ¥udil, we have not identified material mi5slal&rnents in the Trustees, Report. We have nothlng to report in Tespecl of the fonowing mallers in relation lo which Ihe Companies Act 2006 requires us lo report lo you if, in our opinion.. adequate accounting records have not been kept. 01 the financlal statement5 are ntsi ia agreement with the accounting reGrffds and retm)s', or certain disclosures of trustees. rèmuneration speeified by law are not made,. or we have not recelved all the information and eXplana￿On￿ we require for our audit". or the trustees were not entitled loi prepare the financial statements in aCcr￿dan￿ with Ihe small companies regime and take 8dvanlage of the Small companles, exemplK)ns in prèparing the Tr￿tee$. Report and from the Tequirement lo prepare a Strategic Report. Responsibllitles ol trustees As explallled more lully Sn the trustees, re$pon8ibilities slatem8nl (set out on page 41. the trustees (W￿ are also the di￿lOr$ of the charitable company for thé purposes of tompany lawl are responsible lor the preparatlon of the fi'nancial statements and for b&ing satisfied thal they give a true and fair view, ond for such iniernal control as the trustees delenTrine Is necessary to enable thÈ weparation of financial stat￿nentS that are free frorn malerAI m¢sslalement, whether due lo fraud or error. In preparing the financAal statements, the trusle8s are ￿SponsIble for a55e55in9 the charitable company's abilty ltr continue as a goin9 con¢ern, discloslng, as applpcable. mallers related ta goin9 concern and using the going concern ba5rs of accounting unle55 the trusless dlher intend lo liquidate the charitable company or lo cease operations. or have no realislic altemative bul to do so. Pag8 7 Independent Auditor's Report to the Trustees of The Churches of God In UK IA Company Limited by Guarantee {continued) Auditor's rosponsibilities for the audit of the financlal statements Our ot4gCtiv?s are to obtain reasonable assurance 8boul whether the financial statements as 8 whole we free from material misstalemenl, whether due lo fraud or error. and to ISSLE an auditor'5 ieport that includes our opinion. Reasonable assurance is a hlgh level ol assuraTrGe, is not a guaraRlee that an audit conducted in accordance with ISAS {UKI will afways dele¢l a rnaterial misstatement whan il exlsls. Misslalements can arfse from frawl or error and are considered material if. indiwdu81ty or in the aggregal8, they could reasonably be expact8d to influence the economic decisions of users taken on the basis of these financial slalements. Irregularities, including fraud, are instances of non-cornpliance with laws and regulatlons. We design procedures in linè th our responsibillties, outlined above, lo det8Ct material misslatetn8nts in respect ol iri¢9ularities, including fraud. The $￿tIliC procedures for thi5 eroagemeTht and the extent lo whirh these are capable ol detecting Irregularities, inrluding fraud is detailed below. We rewewed the company's control and risk managernenl procedures and planned our work bssed on our assessment of those controls and prccedures", This revlew included an 8ssessrnenl of the risk of material rnisstatement due lo errors, fraud and managemenl overdde of controls for all Materi￿ are8s in the final￿[al Stat￿ents,. We made enquiries of manag*neTrl and the company's lawyers regardiw any actual or potential Iltygaiion andlor claims- Financial stslemènls discbswés were rev￿Wed and checked for cornpfiance with applicable laws.. Det￿led testing was conducted on b31ances and tran5aclions including unusual items and those of indNldual slgnificancg tg the financial staternents.. D*a 8natytics were used in order to idenllfy unu$u#l or svJnificant trends.. Comrnvnicalions with management and those ¢harged wllh govem8Trce regarding relevant matters was undertaken throughout the atjdil and on cornplelion. Because of the inherent Imnitations ol an audit. there is a risk Ihal we will nct detect all Irreg￿larit4eS, ineludrng those leading to a material misstatement in the financial slalements or non-compliance with regulation. This risk increases the more that complrance with 8 law or regUlat￿n 15 removed frorn th? events and Irans2clions reflected In the financial stalemenls, as we will be less likdy lo becorne aw8re of I￿stanceS ol non£otnpliance. The risk 15 also greater regarding irregulafities crcurring due to fraud rather than error, as fraud involves inlenli¢nal COn￿a￿ent, foig6Yy, collusion. omi3sion or misrepre5entalion. A further de$¢riplion of our responsibilities for the audit ol the financial statements is located on the Flnanual Reporting Council's website at www.fre.org.uklsuditorsresponsibilites. This descriptlon forrns part ol our 8uditoI8 report. Page 8 Independent Auditorfs Report to the Trustees of The Churches of God in UK IA Company Limlted by Guarantee) l¢ontinuedl Use of our report This report Ss made solely to the charitable company's rnefflbers. a5 a body, in 8ecordance wth Chapter 3 of Part 16 01 the Companies Act 2Q06. Our audit work ha5 been undertaken so that W6 might state to the charitable corrpanW5 member$ those matters we are required to siale lo them in an auditorfs report and no other purpose. To the fUl￿$t exlenl permitted by law, we do not accept or assume respon5ibllily lo anyone other Ihan the charitable company and the charitable coMpan￿S members as a body, for our audit work. for this report, or lor the opinions we have formed. Davld W Farnsworth F¢A Isenior Statutory Auditorl For and on behalf ol Feltons. Statutory Auditor 8 Sovereign Court 8 Graharn Street Biiminghafft 81 3JR Dale.. Pag& 9 The ¢hurche5 of God In UK IA Company Llmited by Guarantee) Statement of financlal activitie8 for the year ended 31 Mar¢h 2024 Unreslrl¢ted R•str¢cted funds fund? 2024 Z024 Total funds 2024 Unre$trl￿ed Restrlcted lunds lunds 2023 lunds 2023 2023 IN¢OME FROM Grft5, grants an¢ donabork$ Gfft aid recovered Rental InGorne Bank Inierest Olher incorrE 245,101 8.649 20.079 643 265,180 9.292 124.641 17,812 5.298 6.930 150 38.6T3 163,314 t7.812 5.298 6,930 150 13.903 517 13.903 517 TOTAL INCOME 268,170 20,722 288,892 154.831 38,673 193.504 EXPENDITURE ON Renl and meelng room hlre Council lax Water Insurar EIB¢iricity and gas Telephone l inlernel Repalrs & MainlenancE Legal and professional fees Cleanin9 Bank charges Depreck81ion General exp8ns8$ Small equiprnent and furniture Gospel aGh'vilies expenses Printing. postsge & stationery IT Sofvare and Con5urnaOles Audit Travel- Nalional Donation$ lo olhor charilES 452,421 16,644 9.coe 8,279 30.003 5.719 27.881 464 2.093 152,421 16,644 9.008 8.279 30.003 5,719 27.861 464 2.093 541 118.179 487 6.408 6.360 516 669 5,1Tr) 9.606 16.189 112,230 13.035 7,036 7,372 24,073 5,068 26,225 4.173 1.590 385 97,946 444 13.549 2.396 547 486 1.000 5.511 172.230 13,035 7.036 7,372 24.073 5.068 ,225 5.152 1.590 562 97,946 444 13.$49 2,3 559 486 1.CQO 9.511 30,000 979 153 177 118.179 487 6.408 8.360 516 669 5,100 9.606 12 16.189 30.000 TOTAL EXPENDifuRE 400,205 16.342 416,547 323.0fj6 31.168 354.234 Net Incomellexpendlturel 1132.0351 4.380 1127.6551 1168.2351 7.505 1160.7301 NET MOVEMENT IN FUNDS 1132,0351 4,380 11Z7,6551 11682351 7,505 1160,7301 RECONCILIATION OF FU14DS TOTAL FLINDSAT 1 APRIL 2023 341.404 27,429 36e.833 509,639 19.924 529,563 TOTAL FUNDS AT 31 MARCH 2024 209,369 31.809 241.178 341,404 ,429 368.833 All Income 8nd expenditure derwe from continuing actMlie5. The statement offinan¢i818ctivi118$ IndL*les 011 gyin¥ dnd los¥?s reugnised during the year Pa9e 10 Thè Churches of God in UK IA Company Limited by Guarantee) Company Numbei: 2350280 Balanc¢ sheet as at 31 March 2024 I Charity number .' 298835 2024 2023 Notes Fixed as5et5 Tangible 8S5ets 4,538,242 4,194,916 Current assets Oeblors C35h at bank and in hand 12.S35 786.080 798,T15 5,208 773,677 778,885 Creditors: amounts falling du8 wlthln one year 20,779 9,988 Net current assets 777.938 768,917 Creditors: arnounls falling due alter OMÈ year 10 5.075.OOD 4,$95.000 15.075,0001 14.595.OODI Net assets 241,178 368,833 Funds of the charity.. Restricted funds Charity fund 31,809 27.429 Uni8strlcted lunds General fund 209.3fj9 347.404 209,369 341.404 Totol funds 241,178 368,833 These accounts have been prepared in a¢¢ordano with the special prov1s1o￿ of Part 15 of the compen￿ Ad 2006 relat￿g to srnall companies. The Mtes cn pages 13 to 20 forrn part 0fth￿e accounts. The financrdl statements were approved by the board of tru5tee5 on behalf bv.. 14-10-2024 and wer6 signed on Its +rJ Tsz Lai Choy Trustee PwJe11 The Churches of God in UK IA Company Llmited by Guarantee) Statement of cash flows for the year endsd 31 March 2024 2024 2023 Cash flow froln operalng a¢bVit￿$ Nel incomellexponditurel for the year Add bxk dep￿tiatiOn 1127.6551 118,179 1160.7301 97,946 19,47fj1 162.7B41 Net cash provided byllu$ed inl operating actiwtES Ilncreaseydecr8ase in debtors Increaselld8¢rea5el in creditors ri,4271 10,811 9,836 4.559 3,384 5,277 Cash lows used in investing aCti￿tieS 1461,5051 ie63.4861 Cash now from financlng aciiwtie5 Loan advdnced from sister Church in Hong Kong 480,Ch)O 385.000 Change in CAsh and cash equivalents in tre year 12,403 1335,9931 Cash and cash equivaÈnts at the beginning of the year 773,677 1,109,670 Cash and cash 8quivalonts at th¢ year end 786.080 773,677 Page 12 The Churches ofGod In UK IA Company Limited by Guaranlèel Not9S to the tinan¢lal statements lor the y8ar ended 31 March 2024 1. Accounting policles al General Informatlgn and basls of preparation The Churches of God in UK charilable cornpany limited by guarantee . In the event of the charity being wound p, the liability ¥1 ￿SpeCt of the guarantee is limited to £1 per member of the charty. The address of the registe￿d office is given in the charity information on pa9e 101 these fina￿A151a1ernents. The nature ol the charills operation5 and prificipal 8Ctiwlies are the advancement of ChristsaTh religM)n including congregatk)ns, visits, cell groups, youth dev&lopment. sun¢Jay school and other aclivilies. The charity conslitules 8 public benefit entity as defined by FRS 102. Assets and liabilitie3 are initially recognised at historical cost or transaction value unless otherwise stalgd in the relevant accounllng p)licy. The financial statements have been prepared in accordants with Accounting an(J Reporting by Charities.. Statement of Recommended Praclre appli¢able to charities preparirno Iheir accounts in accordance with the Financial Reporting S18ndard applicable in the UK and RepuNi¢ of I￿land issued in October 2019, the Financk41 Reportlng Standard appbcable in the Unmed Kingdorn 8nd Republic of Ireland IFRS 1021. the Charities Act 2011. the Companies Act 2006 and UK Gerjerally Accepted Accounting Practic8. significant accounting policres applied in the preparauon ol these finaneial statemeDts are set out bdow. se policies have been con515tenlly 8pplied lo all years pTesented unless otherwise staled bl Golng concern The trustees consider that there are no malerial uncertainties about the charitrfs aknlity to continue as a goiN cor￿eM. Key judgement5 that the charity has made kvhich have a significant effect on the aceounts In¢luJe estimallng income and expenditure for the next 12 rnonlhs. cl Ineome Income Is recognised when the tharity has enlillement to the funds.. this is when any perfonllance conditions allached to the ￿COrne have been met. It is probabl8 that Ihe income wlll be reTrwed. and that the amount can be measured reliably. Incomè Is only deferred when.. The donor SpeC￿leS that the grant or donation must only be used in lulu a0￿￿nting periods., or for perfomance related grants, where these are re￿iVed In advance of the performances or spear￿¢ event to which they relate. dl Interest receivable Interest on fijnds held on deposli i% included when receivable and the amount can be rneasured relHbly by the tharfly, Ihls is normalty upon notificahon of the interest pald or payable by the bank. Page 13 The Churches of God in UK IA Company Limlted by Guarantee) Notes to the financial slatemgnts for the year ended 31 March 2024 l¢ontlnuedl 1. Accourtting policies Icontinuedl el Fund accounting Re51ricled funds a￿ to b8 used for speclfic purposes as laid down by the donor. Expenditure whith meets these criteria is charged to the funds. Unrestricted funds ale donation$ and other incDtning re50UTces rec8Ned or generated lor the charitable purposes. Designated funds are unrestricted funds ¢arrn8rk8d by Ihe tnjstees for partIC￿lat purposes. Expet)diture reco9nltlon All expenditure 15 accounted for on an 8ccwals basis and has been da5sified under headings that aggregale all c051s related to the category. Expenne 12022-23 - three) fijll ts.me volunteer trustee and his dose connections had benefitled from staying in accommodations prwded by Ihe Charity, by paylng an a90￿gated concession rent of £16 for the year 2023-24 12022-23 £601. The rent free benefrt enjoyed by said Volunteer Trustees in the year 2023-24 was £9.45212022-23 £24,740). During the year 2023-24. the combined foe volunteered hours providèd by the above trustee and ¢105e ¢onne¢tiDnS that had benefitted the Charity was a totsl 3.870 12022-23 - 10,8901 hours whi¢h was worth £56,697 12022-23 £159.5431. No other trustees received any bsnerrts in kind 2023-2412022-23_ none). 6. Other related patytransactbons Qther than the trustees and their dose wnnectKns, the￿ a￿ no other reportab￿ related partie5 or relaied party Iransactrons to disclose for 202412023- nonè). 7. Tanglble Ilxed assets Freehold Properttes Computer & eyuiprnent Flxtyres & 16ttlngs Total Cosl At 1 Aprfl 2023 Additions At 31 March 2024 4.367,144 456.291 4.823.43S 35,4f 2.918 38.324 54,187 2.296 56.483 4,456.737 461,505 4,918.242 Deprecfiatlon Al 1 April 2023 Charye for the year At 31 March 2024 225.963 95,666 321.629 11.473 12.377 23.880 24,385 10,136 34,521 261.821 118.179 380,OOQ Net book values At 31 March 2024 4,501,806 14,474 21.962 4.538.242 At 31 March 2023 4,141,181 23,933 29,802 4,194.916 Page 17 The Churchès of God In UK {A Company Llmited by Guarantgel Notes to th¢ financlal statements for the year ended 31 March 2024 Icontinuedl 8. Debtors Total 2024 Total 2023 Prepayrnents 12,635 12,635 5.208 5,208 9. Credltors- amounts falllng due within one year Totsl 2024 Total 2023 Trade t￿dItorS Deferred Income other rreditors and arcruals 15,679 8,153 1,798 9.968 20.779 Deferred Income Balance at 1 April 2023 Amount released lo rncomirg resources Amount deferred in the year.. grant lor next finan081 year ￿cefved In advanc$ Balance at 31 March 2024 121 10. credito￿- amounts hlling due ovor one year rotal 2024 Total 2023 Loan from Sister church ￿ Hong KorvJ lall afterm0￿ than 5 years) 5.075.000 5,075,000 4,595,000 4,595.000 The total k)ng term creditors as at 31 M￿h 2D24 wa5 £5,075,00012023. £4,595.0001. All loans are interest free for the first four years. RÈpaymenls are due on the last day of the fifth year as per date of each loan agreement Extension of Inte￿5t free 8nd repayments period for each loan 8greement can be negotiated in due course. Any unyts"lised loan can be used lor any unreslricted spendiTrJ within Ihe SCOkE of the charity obiedive. Page 18 The Churches of God in UK IA Cornpany Llmlted by Guarantee) Notes to the flnancial statements for the year ended 31 March 2024 Icontinuedl 11. Statement of furtrds Balance at 1 April 2023 Bolance at 31 M2r¢h 2024 Incomlng resources Resource5 expended Transfers Rostrlcted fund$ Light and Love Fund ca￿ for Ukrainian Refugees Fund 32,474 15,0451 27.429 15.438 5.284 20,722 116,2791 631 116,342 31,633 176 31,8OS Surnmary of fund$ Unrestricted fund Restricted charity fu￿1 TDtsI funds 341,404 27.429 368,833 268.170 1400.2051 16.342 416.547 209.369 31,809 241.178 288,892 Restrlcted charity fund Money given to ￿ charity whère Ihe don￿ wuir85 Ihal 8 grant or donation be Spent fl￿ a 5FÉc1r￿ w)ject Unrestricted general fund The free reserves of the charity which are not designated for particularpurpo8es. Light and Love fund The Light and Love funds represent donation5 received for Light and Love Home Worfthvide Charity Service$. ThE fvnd balance £31.633 al the year end was represented by cash in a separate bank ateount for holding the restn¢t¢d funds. £16,189 was transferred lo Lyhl and Love Home Worfdwide in the year12023. nill Care for Ukralnlan Refugees fund The Care for Ukrainian Refugee5 fund represents donations recewed, restricted to and for the boneftl ol Ukranian refugees. The lund is used to cover aC￿MModatiOn, food and other necessities foi Ukrainian refugees. During the year. additional donations were re￿IVed to address the dèfiat frotn the preV￿￿S year. statemÈn¢olfunds- 2023 Incomsng resource$ Resourtces expended Balance at rr&nsfer$ 31 March 2023 l Aprll 2022 Restrlcl8dfunds Lwht andLove Fund re forUkr8inAan Refugees Fund 18.014 1.910 14,520 24, 153 (60} {31, 1081 32.474 (5.045) 19,924 38,6T3 31.168 27.429 Summaryoffunds un￿￿triCted fund Reslrictedch8rityfvnd Toi* fund5 509,639 19.924 529,563 154.831 38,673 193.504 f323,0661 31. ffj8 354.234 34t,404 27,429 364833 Page 19 The Chur¢hÈs ofGod In UK {A Company Limited by Guarant*81 Notes to the financlal ststemonts for the year ended 31 March 2024 {¢ontlnuedl 12. Analysls of neta5$8ts betwèen fund$ Fund balan￿$ 8131 March 2024 are represented by.. Unrestrl¢t8d Rè$trf¢ted funds funds Totsl lund$ Tangl￿e fixed assets Nei ¢urrenl assets Credltors due in more than one year 4,538,242 746,127 15,075.0001 209,369 4,538,242 777.936 15.075,OC 241.178 31,809 31.809 Fund balances at 31 March 2023 a represented by". Unrestricted Restrlcted funds ftsrbd5 Tol41 funds TangAble fjxed 8SS8fs Nel curr&nl 8ssels Credifors due in more than OATeyear 4,194.916 741,488 4.595.000 341,404 4.194.916 768,917 4.595.000) 368.833 27,429 27.429 13. Capttal commltments There were no capital commitments at 31 March 202412023- Endl. 14. OthEr inforrnatton The Churches of G[￿ in UK is a charitable company limlled by guarantee and without Sha￿ capital, ￿giSter￿ in England with registration number 235D280. Its registered offic& add￿$$ Is 18 Croydon Road. Beddln9ton, Croydon, CRO 4PA. The accounts are presenled in GBP and wunded to £1. Page 20