REGISTERED CHARITY NUMBER: 328513
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
FOR
TOGETHER FOR CHRIST HIS KINGDOM AND HIS CHURCH
Harrison Beale & Owen Limited Chartered Accountants Highdown House 11 Highdown Road Leamington Spa Warwickshire CV31 1XT
TOGETHER FOR CHRIST HIS KINGDOM AND HIS CHURCH
CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 March 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 11 |
| Detailed Statement of Financial Activities | 12 | to | 13 |
TOGETHER FOR CHRIST HIS KINGDOM AND HIS CHURCH
REPORT OF THE TRUSTEES for the year ended 31 March 2024
The trustees present their report with the financial statements of the charity for the year ended 31 March 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
Objectives and aims
Together for Christ, His Kingdom and His Church was constituted by a Declaration of Trust dated 21st December 1989 and is a registered Charity number 328513.
The Charity's former name Covenant Ministries International was changed by supplementary deed dated, 15th July 2005.
The Charity operates under the name of Together for Christ, His Kingdom and His Church from its offices at Nettle Hill, Brinklow Road, Ansty, Coventry, CV7 9JL.
The objectives of the charity are:
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The advancement of the Christian Faith
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The relief of persons in need or hardship
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The provision of education, on the basis of Christian principles
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The provision of conference facilities to the Church and outside
The Trust supports the activities of men and women in ministering to the Church in the UK and elsewhere in the world.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The on-going aims of the Trust were the central focus this year, being outworked and fulfilled through a variety of activities including:
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Support and development of various people in ministry, by raising funding and support to specific UK and overseas missions (individuals and projects) via financial means;
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Pastoral care and support of individuals and church congregations within in UK, South Africa, USA, India, Sri Lanka and Germany;
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Regular leaders' gatherings for those with oversight of related churches/other leadership responsibilities;
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Support and finance for those in need, hardship and distress whenever possible;
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Continued work in both the UK and overseas, developing relationships with similar church settings along with national and international organisations;
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The provision of conference facilities for various events;
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National and International events including educational programmes, equipping and empowering people in various skills/vocations in their faith.
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Ongoing development of the South African teaching base,
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The Nettle Hill property has been placed on the market, as the Trustees desire to realign with the main aims and
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objectives, especially focused on the alleviation of poverty.
The trustees feel that the charity is on-line in fulfilling its objectives.
FINANCIAL REVIEW
Financial performance and position
Full details of the financial transactions are contained in the attached accounts and the total incoming resources for the year were £228,403. After deducting resources expended of £222,889, the net incoming resources were £5,514 compared with net outgoing resources of £4,012 last year. The net assets of the Trust at 31st March 2024 were £1,518,267.
Investment policy and objectives
The Trustees have considered the most appropriate policy for investing funds. Short term reserves will be held in the Trusts' interest bearing bank account.
Page 1
TOGETHER FOR CHRIST HIS KINGDOM AND HIS CHURCH
REPORT OF THE TRUSTEES for the year ended 31 March 2024
FINANCIAL REVIEW
Reserves policy
The Trustees have reviewed the Charity's needs for reserves in line with the guidance issued by the Charity Commission and consider it prudent that unrestricted reserves should be sufficient to avoid the necessary of realising fixed assets held for the Charity's use.
The Trustees are confident that future income will enable the charity to meet its foreseeable needs, on the basis of planned activity.
FUTURE PLANS
The charity plans to continue to achieve its aims and objectives through its current activities as well as through the following future developments:
The charity aims to relocate to a different property where they can focus on an ecological theology/creational theology which effects mankind in every sphere, especially the poor of the world.
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Developing relationships with similar organisations in both the UK and overseas;
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The continual establishment of Covenant College courses at the South African campus;
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Development of widows programme
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Organisation
Trustees are appointed under the provisions of the Declaration of Trust.
The Trustees who served during the year and since the year end are set out below. Trustees meetings are held regularly to review the progress being made towards fulfilling the objectives of Together for Christ, His Kingdom and His Church and to set goals for future developments. There are no full-time employees, the day to day administration of the charity is carried out by volunteer help.
Risk management
The Trustees have assessed the major risks to which the charity is exposed, in particular those relating to the operations and finance of Together for Christ, His Kingdom and His Church, and are satisfied that systems are in place to mitigate exposure to the major risks.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
328513
Principal address
Nettle Hill Brinklow Road Ansty Coventry West Midlands CV7 9JL
Trustees
A R Hulley (resigned 12.9.2023) G F H Parker G L Duffty Ms A N Lynch
Page 2
TOGETHER FOR CHRIST HIS KINGDOM AND HIS CHURCH
REPORT OF THE TRUSTEES for the year ended 31 March 2024
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner
Harrison Beale & Owen Limited Chartered Accountants Highdown House 11 Highdown Road Leamington Spa Warwickshire CV31 1XT
Bankers
Lloyds Bank 30 High Street Coventry West Midlands CV1 5RA
Approved by order of the board of trustees on 27 January 2025 and signed on its behalf by:
G L Duffty - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF TOGETHER FOR CHRIST HIS KINGDOM AND HIS CHURCH
Independent examiner's report to the trustees of Together for Christ His Kingdom and His Church
I report to the charity trustees on my examination of the accounts of Together for Christ His Kingdom and His Church (the Trust) for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity trustees of the Trust 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 Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all 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:
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accounting records were not kept in respect of the Trust 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 applicable 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.
Gregg Olner MPhil BA(Hons) ACA
Harrison Beale & Owen Limited Chartered Accountants Highdown House 11 Highdown Road Leamington Spa Warwickshire CV31 1XT
27 January 2025
Page 4
TOGETHER FOR CHRIST HIS KINGDOM AND HIS CHURCH
STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2024
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Other trading activities 2 Investment income 3 Total EXPENDITURE ON Charitable activities General Charitable activities Other Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2024 Unrestricted funds £ 133,302 18 95,083 228,403 - 134,637 88,522 223,159 5,244 1,512,753 1,517,997 |
2023 Total funds £ 39,151 5,514 108,754 153,419 (3,095) 130,691 29,835 157,431 (4,012) 1,516,765 1,512,753 |
|---|---|---|
The notes form part of these financial statements
Page 5
TOGETHER FOR CHRIST HIS KINGDOM AND HIS CHURCH
BALANCE SHEET 31 March 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| funds | funds | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 5 | 1,657,244 | 1,658,522 |
| Investments | 6 | 2,000 | 2,000 |
| CURRENT ASSETS | 1,659,244 | 1,660,522 | |
| Cash at bank | 1,527 | - | |
| CREDITORS | |||
| Amounts falling due within one year | 7 | (100,882) | (32,248) |
| NET CURRENT ASSETS | (99,355) | (32,248) | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 1,559,889 | 1,628,274 | |
| CREDITORS | |||
| Amounts falling due after more than one year | 8 | (41,892) | (115,521) |
| NET ASSETS | 1,517,997 | 1,512,753 | |
| FUNDS | 10 | ||
| Unrestricted funds | 1,517,997 | 1,512,753 | |
| TOTAL FUNDS | 1,517,997 | 1,512,753 |
The financial statements were approved by the Board of Trustees and authorised for issue on 27 January 2025 and were signed on its behalf by:
G L Duffty - Trustee
The notes form part of these financial statements
Page 6
TOGETHER FOR CHRIST HIS KINGDOM AND HIS CHURCH
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, 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. The financial statements have been prepared under the historical cost convention, with the exception of investments and land and buildings which are included at market value, as modified by the revaluation of certain assets.
The financial statements contain information about Together for Christ, His Kingdom and His Church as an individual charity and do not contain consolidated financial information as the parent of a group.
Income
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
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - shown at market value Fixtures and fittings - 15% on reducing balance
Related party exemption
The charity has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
Investments
Investments are recognised at cost less impairments.
continued...
Page 7
TOGETHER FOR CHRIST HIS KINGDOM AND HIS CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2024
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Restoration Music | - | 5,500 |
| Other income | 18 | 14 |
| 18 | 5,514 | |
| INVESTMENT INCOME | ||
| Rents received | 2024 £ 95,083 |
2023 £ 108,754 |
3. INVESTMENT INCOME
4. TRUSTEES' REMUNERATION AND BENEFITS
During the year one trustee received fees of £20,844 (2023 - £21,005) in relation to ministering to the church in the UK and overseas.
The secretary received fees of £11,935 (2023 - £12,950) in relation to secretarial matters.
Trustees' expenses
Expenses amounting to £2,760 (2023 - £940) were paid to the trustees during the year to cover motor, travel and telephone costs.
5. TANGIBLE FIXED ASSETS
| COST OR VALUATION At 1 April 2023 and 31 March 2024 DEPRECIATION At 1 April 2023 Charge for year At 31 March 2024 NET BOOK VALUE At 31 March 2024 At 31 March 2023 Cost or valuation at 31 March 2024 is represented by: Valuation in 2024 |
Freehold property £ 1,650,000 - - - 1,650,000 1,650,000 Freehold property £ 1,650,000 |
Fixtures and fittings £ 478,741 470,219 1,278 471,497 7,244 8,522 Fixtures and fittings £ 478,741 |
Totals £ 2,128,741 470,219 1,278 471,497 1,657,244 1,658,522 Totals £ 2,128,741 |
|---|---|---|---|
continued...
Page 8
TOGETHER FOR CHRIST HIS KINGDOM AND HIS CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2024
6. FIXED ASSET INVESTMENTS
| FIXED ASSET INVESTMENTS | |
|---|---|
| Shares in | |
| group | |
| undertakings | |
| £ | |
| COST LESS IMPAIRMENT | |
| At 1 April 2023 and 31 March 2024 | 2,000 |
| NET BOOK VALUE | |
| At 31 March 2024 | 2,000 |
| At 31 March 2023 | 2,000 |
There were no investment assets outside the UK.
The Charity owns 100% of the share capital of Nettle Hill Limited and Restoration Music Limited. The registered offices for both of these companies are Nettle Hill, Brinklow Road, Ansty, Coventry, Warwickshire, CV7 9JL.
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2024 £ Bank loans and overdrafts (see note 9) 6,777 Other creditors 94,105 100,882 8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2024 £ Bank loans (see note 9) 41,892 9. LOANS An analysis of the maturity of loans is given below: 2024 £ Amounts falling due within one year on demand: Bank overdrafts - Bank loans 6,777 6,777 Amounts falling due between two and five years: Bank loans - 2-5 years 41,892 |
2023 £ 26,283 5,965 32,248 2023 £ 115,521 2023 £ 138 26,145 26,283 115,521 |
|---|---|
continued...
Page 9
TOGETHER FOR CHRIST HIS KINGDOM AND HIS CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2024
10. MOVEMENT IN FUNDS
| Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS Comparative net movement in funds, included in the above are as Unrestricted funds General fund TOTAL FUNDS |
At 1.4.23 £ 1,512,753 1,512,753 Incoming resources £ 228,403 228,403 At 1.4.22 £ 1,516,765 1,516,765 follows: Incoming resources £ 153,419 153,419 |
Net movement in funds £ 5,244 5,244 Resources expended £ (223,159) (223,159) Net movement in funds £ (4,012) (4,012) Resources expended £ (157,431) (157,431) |
At 31.3.24 £ 1,517,997 1,517,997 Movement in funds £ 5,244 5,244 At 31.3.23 £ 1,512,753 1,512,753 Movement in funds £ (4,012) (4,012) |
|
|---|---|---|---|---|
continued...
Page 10
TOGETHER FOR CHRIST HIS KINGDOM AND HIS CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2024
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.
Page 11
TOGETHER FOR CHRIST HIS KINGDOM AND HIS CHURCH
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2024
| INCOME AND ENDOWMENTS Donations and legacies Gifts Gift Aid Other trading activities Restoration Music Other income Investment income Rents received Total incoming resources EXPENDITURE Charitable activities Insurance Telephone Postage and stationery Advertising Sundries Property services costs Administration and consultancy costs Computer and equipment costs Motor expenses Travel and subsistence costs Charitable donations Bank charges Hospitality Rates and Water Depreciation of fixtures & fittings Bank loan interest Other Related party loan write off Support costs Governance costs Independent examiner's fees |
2024 £ 126,760 6,542 133,302 - 18 18 95,083 228,403 35 2,042 536 1,448 8,870 15,373 35,539 1,973 5,393 10,253 31,985 1,826 4,999 1,152 1,278 8,084 130,786 88,522 3,851 |
2023 £ 37,338 1,813 39,151 5,500 14 5,514 108,754 153,419 320 2,365 847 302 3,378 33,201 36,505 1,300 4,597 3,357 23,661 475 5,246 1,589 1,493 5,038 123,674 29,835 3,922 |
|---|---|---|
This page does not form part of the statutory financial statements
Page 12
TOGETHER FOR CHRIST HIS KINGDOM AND HIS CHURCH
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2024
| Total resources expended Net income/(expenditure) |
2024 £ 223,159 5,244 |
2023 £ 157,431 (4,012) |
|---|---|---|
This page does not form part of the statutory financial statements
Page 13
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