Charity registration number 510955 (England and Wales) MOSAIC CHURCH COVENTRY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
MOSAIC CHURCH COVENTRY LEGALAND ADMINISTRATIVE INFORMATION Chalrperson Mark Nettleton Trustees Andrew Edmiston Mark Nettlelon Vivienne Kibble Charlty number 510955 Principal addre88 Hope Centre Vauxhall Street Coventry CV15LF Independent examlner Jack Baker MAAT First Floor Eagle House 14 Queens Road Coventry CV13EG Banker8 Lloyds Bank PLC 30 High Slreet Covenlry CV15RE
MOSAIC CHURCH COVENTRY CONTENTS Page Trustees report Independent examinerfs report statement of financial activities Balance sheet Notes to the financial statements 9-22
MOSAIC CHURCH COVENTRY TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Iruslees present their annual report and financial statements for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities.. Slalemenl of Recommended Pra¢ti¢e applicable lo chanlies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)" Objoctlve8 and activities The principle object is to advance the Christian Faith for the benefit of the public and promote the whole mission of the Church and the worship ofGod in the UK and elsewhere by preaching and proclamation ofthe Christian Gospel. Activitles Mosaic Church is principally based in Coventry. serving the people of the City as a place of worship, inspiration equipping and hope. Mosaic also has a campus in Ihe inner-city area of Hillfields, Coventry one of the most deprived areas in the city. and has recently opened campuses in Coleshill and Leamington Spa. Mosaic Church receives funding from a number of sources. bul principally from donations made by its members. Mosaic employs staff to support and equip people in its communily to create pathways for those looking for freedom from poverty, addiction, illness, poor education, debl, broken relationships. Additionally Mosaic works in partnership with other organisations in the City and has ieceived grants from The National Lottery Communities Fund lo deliver enhanced services lo the people of Cov8ntry to help lake people from surviving lo thriving. Additionally Mosaic has been a delivery partnef Wlth a UK based International Charity that sponsored a project to house people escaping from the conflict in Ukraine. Mosaic also supports projects with the same objectives in Europe, Africa, and South America. The trustees have paid due regard to guidanc8 issued by the Charity Commission in deciding what activities the charity should undertake. Achlevements and perfomiance Mosaics membership has grown significantly and we now how have a membership of 942 a third ofwhom are under the age of 18. Pasloral groups run weekly for men and women, including those that Suffer from mental health and have been exploited. The Church employ resilience staff that help people with finance, housing, benefits and employability. Mosaic hold baby clinics and run a weekly toddler play & slay group, and an evening group for youth and teenagers. The ChLtrch provides opportunities for skills in music, singing, and AV technology at weekly development and practi sessions. Slaff and volunteers are provided with opportunities to support programmes and build new ones. Mosaic Church continued lo manage 8 large residential property to house 50 people of all ages escaping from the conflict in Ukraine. Mosaic is working with with the Local Authority lo find full time employment and permanent residential accommodation. As a multi.generational and mulli-nalional community Mosaic Church continues to thrive and grow.
MOSAIC CHURCH COVENTRY FOOD8ANK KPI x 2324 vouchers & 3175 people fed per year KINGDOM KITCHEN KPI = 2324 meals per year In 2024, we fu Ifilled which is 410 fewer than the 2,790 vouchers fulfilled in 2023. Additionally, while ! I ppnpl• this past year. this number was 593 less than the total for 2023. The number of meals we ser, G 111 our 336 meals less if compared with the previous year 2023. RESTORE- SOCIAL SUPERMARKET KPI E 1327 shops 8 3097people fed per year HOUSEHOLD SUPPORT FUND KPI = 3578 people fed per year In 2024, .ve operated 1.110 shoD", excluding HSF, while in 2023, we had a total of1,311. The number Me feed in 2024 was 3,243 while in 2023 was 3.219 an increase of 24 more people than the previous year. in 2023 we feed through HSF 3716 people and had 1822 vouchers requested. In 2024 we had about only 72 less than the previous year and a total of .
MOSAIC CHURCH COVENTRY TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Flnancial rovlew The charities income in the year was £980,716 compared lo £987,906 in the previous year. The main points relating to increase in income are as follows'.- Unrestricted donations and gifts received in the year for church aclivities were £550,916 (2023 £381,377) Donations and income towards the building fvnd £2,04212023 £116,364) Donation5 and grants towards th8 projecl to house people escaping from the conflict in Ukraine of £136.469 (2023 £177,004) Expenditure in the year was £917,359 compared lo £869,964 in the previous year. The increase in expenditure can be attributable to... Costs towards the project lo house people escaping from the conflict of£140,855 (2023 £185,890) Expenditure of£142,397 {2023 £249,086) was paid out from the National Lottery Communities Fund grants As we were able to hold charity events this year. costs for these events were £30.436 (2023 £24.457) Reserves Pollcy The Iruslees review the reserves of the charity on a regular basis following r8Vl8ws of the monthly management accounts. The trustees have determined a general reserve of two months unrestricted expenditure should be maintained. Al the end of this year this is equivalent to £78,333 (2023 £49,175). The unrestricted funds balance at the year end was £112,76112023 £51,129). Supplier Payment Policy The charity's current policy conceming the payment of trade credltors Is lo follow the CBI'S Prompl Payers Code (copies are available from thè C81, Centre Point, 103 New Oxford Slreet, London WC1A 1DUI. Thé Charity's current policy concerning the payment of trade creditors is to,. settle the terms of payment with suppliers when agreeing the terms of each transaction., ensure that suppliers are made aware of the t8rms of payment by inclusion of the relevant terms in conlracts., and pay in accordance with the company's contractual and other legal obligations. Trade creditors of the charity al the year end were equivalent to 30 day's purchases, based on the average daily amount invoiced by suppliers during the year. Structure, governance and management Mosaic Church Coventry is a charitable trust and was fomed under a deed of trust and registered with the Charities Commission on the 9th January 1981. Registered Charity 510955 Trustees M Nettlelon A Edmiston Mrs V Kibble Chief Executive Offior A Connor Registered Office Mosaicchurch UK Vauxhall Street Coventry CV15LF
MOSAIC CHURCH COVENTRY TRUSTEES REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Recruitment and appolntment of Trustses The trustees are appointed by ordinary resolution or by a decision of the existing trustees. Under the Articles, TTuslees are required lo serve for three years and Ihen retire al which time they may seek re-election. Charily trustees are the people who share ultimate responsibility for governing the charity and directing how it is managed and run. Throughout 2022 the trustees met quarterly lo review performance and budgets as well as oversee the broad strategy of th8 charity. The charity operates in accordance with dUMented policies and procedures which are designed to ensure that these responsibilities are fully met. Day lo day management of activities is the responsibility of the Chief Executive Officer who provides quarterly reports lo the trustee board. Trustee Induction and training The induction process for new trustees comprises further meetings with the Chair andlor CEO followed by attending a trustees meeting as an Obse@r. New trustees are given access to previous board papers. rent accounts and annual reports, the Memorandum and Artides ofAssociation, and Charity Commission Guidance (CC31. New trustees also complete an NCVO e-learning module covering the roles and duties of trustees. Risk Management and Stratsgy In 2022 the charity agreed a strategic vision and reviewed its risk management plan to ensure strategic, business and operational risks are covered. The charity also updated its Health and Safety, Risk Management and Safeguarding policies as well as other policies to ensure that risks are identified and managed. Public and professional liability insurance is held along with appropriate levels of insurance against other identified risks such as fire and theft. Access lo safeguarding support is provided through a paid subscription to Thirtyone.'Eight. This support helps reduce exposure to risk in these key areas. The subscripiion also includes an Employee Assistance Programme aimed at promoting and supporting wellbeing. Information A8surance and Data Protection The charity has policies lo effectively manage Complian with the General Data Protection Regulations (GDPRI which are reviewed and updated regularty. All staff receive GDPR training relevant lo their role. Robust processes 8re in place to ensure that IT systems are secure and comply with recognised cyber secL5rity standards. These systems are supported by an extemal IT professional. Liabillties The charity's main liabiltlies a for stsffing, pensions, and premises costs. Appropriate insurance is maintained to cover all identified liabilities and we have a reserves policy in place lo ensure adequate protection (see under 'Financial Review, below).
MOSAIC CHURCH COVENTRY TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees, re8ponslbilities In relatlon to the financlal Statements The law applicable to charities in England and Wales requires the truslees to prepare financial statements for each financial year, which give a true and fair view of the charity's financial activities during the year and of ils financial position at the end of the year. In preparing financial statements giving a true and fair view, the trustees should follow best practi and: Select suitable accounting policies and then apply them consistently Makè judgements and eslimales that are reasonable and prudent State whether applicable accounting standards and statements of re¢ommended practice have been followed. subject to any departures disclosed and explained in the financial statements., and.. Prepare the financial statements on the going concern basis unless it is inappropriate to presume that Ihe chariiy will continue in business. The truste8s are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the Charity and enable them to ascertain the financial position of the charity, and which enable them to ensu that the financial statements comply with the Charities Act 2011. The trustees are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and deleclion of fraud and other Irregularities. The charity's trustees continue lo scrutinise the organisalion's finances In detail and financial stalemenls are presented al each board meetings. All financial decisions are based on a full understanding of the ¢harity's reserves position and the impact that future income and expenditure has on the overall financial situation. Publlc Benefit Statement In setting objectives and planning activities the trustees have complied with the requirements of section 17 of the Charities Ad 2011 by giving due consideralion to the Charily Commission's public benefit guidance. In particular, the Trustees consider how planned activities will contribute to the aims and objectives set. The Trustees report was approved by the Board of Truslees. Mark Nettleton Trustee Date.. 17111125
MOSAIC CHURCH COVENTRY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MOSAIC CHURCH COVENTRY I report to Ihe Iruslees on my examination of the financial statements of Mosaic Church Coventry (the charifyl for the year ended 31 December 2024. Responslbllities and basis of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011. I report in respect of my examination of the charity's finanGial statements carried out under section 145 of the Charities Act 2011. In Carrying out my examination I have followed the Directions given by ihe Charity Commission under section 145(5)(b) of the Charities Act 2011. Independent examlnerfs ststoment Since the charity's gross income exceeded £250,000, the independent examiner must be a member of a body lisled in section 145 of the Charities Act 2011. 1 confirm that l am qualified lo undertake the examination because l am a member of Association of Accounting Technicans, which is one of the listed bodies. Your attention is drawn lo the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordanc& with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) in preference to the AcGounling and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred lo in the extant regulations bul has now been withdrawn. l understand that this has been done in order for the financial slalements to provide a twe and fair view in accordance with UK Generally Accepted Accounting Practice. I have completed my examinalion. I confirm that no matters have come lo 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 th6 charity as required by section 130 of the Charities Act 2011. the financial statements do not accord with those records,. or the financial statements do not comply with the applicable requirements concerning the form and content of financial statements sel out in the Charities (Accoun15 and Reports) Re9ulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination. I have no concems and have come a¢ross no other matters in connection with the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the financial slalemenls lo be reached. BAk&r Jack Baker MAAT First Floor Eagle House 14 Queens Road Coventry CV13EG 18111125 Dated:
MOSAIC CHURCH COVENTRY STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted Restricted funds funds 2024 2024 Total Unrèstrlcted Restrictsd funds funds 2023 2023 Total 2024 2023 Notes Income and endowments from: Donations and legacies Charitable activities Investments Other income 496.217 47,842 1,857 5,000 427,563 923,780 47,842 4,094 5,000 349,244 24,887 2,246 5,000 606.529 955,773 24.887 2,246 5,000 2,237 Total Income 550.916 429,800 980,716 381,377 606,529 987,906 Expendlture on: Charitable activitles 469.999 447,360 917,359 378,464 518,500 896,964 Total expendlture 469.999 447,360 917,359 378,464 518.500 896,964 Net incomellexpenditure) 80.917 (17.560) 63.357 2,913 88,029 90,942 Transfers between funds (19,285) 19,285 (15,025) 15,025 Net movement In fund$ 61,632 1,725 63,357 (12,112) 103,054 90,942 Reconciliation of funds: Fund balances at 1 January 2024 51.129 219,440 270,569 63.241 116,386 179,627 Fund balances at 31 December 2024 112.761 221,165 333,926 51,129 219,440 270,569 The slalemenl of financial activities includes all gains and losses recognised in Ihe year. All income and expenditure derive from continuing activities.
MOSAIC CHURCH COVENTRY BALANCE SHEET AS A T 31 DECEMBER 2024 2024 2023 Notes Fixed assets Tangible asset5 13 19,617 27,817 Current assets Debtors Cash al bank and in hand 14 54,003 376,878 23.474 254,547 430,881 278,021 Credltors: amounts falllng due wlthln one year 15 (116,572) (35.269) Net current a88ets 314,309 242,752 Total a88ets1088 current Ilabilitie8 333,926 270,569 The funds of the charlty Restricted income funds Unrestricted funds 17 18 221.165 112,761 219,440 51,129 333,926 270,569 The financial statements were approved by the Irustees on 17111125 kNe Mark Nettleton Trustse
MOSAIC CHURCH COVENTRY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting pollcies Charlty Infomlation Mosaic Church Coventry is a Charilable Trust. The principal address 18 Hope Cenlre, Vauxhall Street, Coventry. CV15LF 1.1 Accounting conventlon The financial statements have been prepared in accordance with the charity's governing document, Ihe Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charrties SORP "Accounting and Reporting by Charities. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)" The charity is a Public Benefit Entity as defined by FRS 102. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required lo provide a true and fair view. This departure has involved following the Statement of Recommended Practice for Charities applying FRS 102 rather than the version of the Statement of Rècommended Practi which Is ref8rred to in the Regulations but which has since been withdrawn. The financial slalements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financi215talemenls are rounded to the nearest £. Th8 financial statements have been prepared under the hislorlcal cost convention. The princlpal accounting policies adopted are sel out below. 1.2 Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources lo continue in operational existence for the foreseeable future. Thus the trustees Continue lo adopt the going concern basis of accounting in preparing the financial Statements. 1.3 Charltable funds Unreslricled funds are available for use at the discretion of the IrLtstees in furtherance of their charitable objectives. Reslricled funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the reslricled funds are sel out in the notes lo the financial slalemenls. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been mel, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been nolified of the donation, unless performance conditions require deferral of the amount. Income lax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised al the lime of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as contingent asset. Govemment grants are recognised based on the accrual model and are measured al the fair value of the asset received or receivable. Grants are classified as relating either to revenue or lo assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assels are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
MOSAIC CHURCH COVENTRY NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policles Icontlnuedl 1.5 Expenditure All expenditure is recognised once there is a legal or Gonstruclive obligation lo that expenditure, it is probable settlement is required and the amount ¢an be measured lIablY. All costs are allocated to the applicable expenditure heading that aggregate Similar costs to that category. Where costs cannot be directly allributed lo particular headings they have been allocated on a basis consislenl with the use of resources, wilh central 51aff costs allocated on the basis of time spenl, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff cost5. Chafitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. 11 includes both costs that can be allocated directly lo such activities and those costs of an indirect nature necessary to 5UPPOrt them. Support costs include central functions and have been allocated lo activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capila, staff costs by the lime spent and other cosls by their usage. Govemance costs are attributable lo the charity's compliance with constitutional and slatulory requirements, includlng audit, strategic management and trustees's meetings and reimbursed expenses. 1.6 Tanglble flxod a3•ets Tangible fixed assets are inilially measured at cost and subsequenlly measured al cost or valuation, net of depreciation and any impairment losses. Depreclation is recognised so as to write off the cost or valuation of assets le$s their residual values over their useful lives on the following bases.. Fixtures, furniture & equipment Motor vehicles Slraight line over four years 250A reducing balance method The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Impairnient of fixed assets Al each reporting end dale, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the assel is estimated in order to determine the extent of the impairment loss (if any). 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call wilh banks, other short-term liquid investments with original malurilies of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Financial Instruments The charity has elected lo apply the provisions of Section 11 'Basic Financial Instrument5, and Section 12 'Olher Financial Instruments Issues, of FRS 10210 all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party lo the contractual provisions of the instrument. Financial assets and liabilities are offset, with the nel amounts presented in the financial statements, when there is a legally enforceable right lo sel off the recognised amounts and there is an intention to settle on a net basis or lo realise the asset and settle the liability simultaneously. 10-
MOSAIC CHURCH COVENTRY NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting pollcies (Continued) Basic financial assets Basic financial assets, which include debtor5 and cash and bank balances, are initially measured al transaction price including transaction costs and are subsequently carried al amortised cost using the effective inleresl method unless the arrangement conslitules a financing transaction, where the transaction is measured al the present value of the future receipts discounted al a market rale of interest. Financial assets classified a5 receivable within one year are not amortised. Basic financlal liabilitles Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangemènt constitutes a financing Iransaclion, where the debt instrument is measured at the present value of the future paymen15 discounted al a market rale of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently Carried at amortised cost, using ihe effective interesl rate method. Trade creditor5 are obllgallons to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amoijnls payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially al transaction price and 5ubsequenlly measured al amortised cost using the effective interest method. Derecognltlon of Ilnanclal Ilabllhles Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.10 Employee benèflts The cost of any unused holiday entitlement is r8cognis8d in the period in which the employee's sep4ices are received. Temiinalion benefits are recognised immediately as an expense when the charity is demonstrably committed lo terminate the employment of an employee or to provlde lermlnalion benefits. 1.11 Retlrement beneflts Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Crltlcal accountlng 08tlmates and ludgements In the application of the charity's accounting policies, the trustees are required to make judgements. estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historirAI experience and other factors that are considered lo be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoin9 basis. Revisions lo accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
MOSAIC CHURCH COVENTRY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Donations and legacies Unrestricted Restricted funds funds Total Unrestricted Rostricted funds funds Total 2024 2024 2024 2023 2023 2023 Donations and grants Gift aid recovered 467.050 29.167 427.563 894.613 29,167 331.259 17,985 606.529 937,788 17.985 496.217 427.563 923.780 349,244 606,529 955,773 12-
MOSAIC CHURCH COVENTRY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Income from charitable activities Unrestrlcted fund8 2024 Unrestricted funds 2023 Church Actlvltes Mosaic Brew Church events 20,352 27,490 13,171 11,716 47,842 24,887 Income from Investments Unrestrlcted Restrlctsd funds funds 2024 2024 Total Unrestrlcted Restrlcted funds fund• 2023 2023 Total 2024 2023 Interest receivable 1,857 2,237 4,094 2,246 2,246 Other income Unrè#trlcted Unrestrlcted funds funds 2024 2023 Other income 5.000 5,000 Other income includes £5,000 employers allowance {2023 £5,000> 13-
MOSAIC CHURCH COVENTRY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Charitsble activities Church Actlvities 2024 Church Activltieg 2023 Wages and support staff (see note 11) Depreciation and impairmenl Hope hub costs Hall hire Events Mission and ministry gifis Travel and motor Ministry resource$ Catering and hospitality Adminislralion and management costs General expenses IT and media costs Accountancy. professional and support costs Repairs and maintenance Utilities Coleshill Manor costs 352,788 8,200 34,906 154,155 30.436 70,409 17,309 26,572 37,921 9,692 20,119 1,342 62.462 42,061 11.277 22,204 297,022 15,838 31,186 27,216 24,457 25,729 29,120 47,881 48,833 6,399 5,151 3,393 70,460 20,201 2,333 185.890 901,853 841,109 Grant funding of actNlties (see note 8) Share of governance costs (see note 9) 15,006 500 55,355 500 917,359 896,964 Analys18 by fund Unreslricled funds Restricted funds 469,999 447,360 378,464 518,500 917,359 896,964 14-
MOSAIC CHURCH COVENTRY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Grants payable Church Activities 2024 Church Activltles 2023 Grants to institutions: Groundlevel Hope Coventry Cherished Hearts Carriers of Hope Feed the Hungry UK Trussel Trust Destiny Fellowship Hagar Ministries Bulgaria Propheli¢ House Church 2,400 760 2,200 960 800 51,395 2,000 350 996 2,000 6,500 15,006 55,355 Support costs allocated to actlvltle* Church A¢tivitle8 2024 Total 2023 Governance 500 500 2024 2023 Governance co8ts compr18e: Independent examination 500 500 500 500 10 Trustees None of the Iruslees lor any persons connected with them) received any remunefalion or benefits from the charity during the year. (2023 None) 15-
MOSAIC CHURCH COVENTRY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 11 Employees The average monthly number of employees during the year was.. 2024 Number 2023 Number Core operations Administration Church programes Tolal 17 15 Employment co$ts 2024 2023 Wages and support costs Social security costs Other pension costs 334,151 14,539 4,098 280,438 13,322 3,262 352,788 297,022 Wages and support cosls includes £91,858 paid to Contractors (2023 £86,492) The remuneration of key management personnel and connected persons during the year was £90,160 (2023- £88,144). These included payments lo contractors. The average monthly full time equivalent headcounl including part time was 812023 7) There were no employees whose annual remuneration was more than £60,000. 12 Taxatlon The charity is exempl from tax on income and galns falling within sectlon $05 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
MOSAIC CHURCH COVENTRY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 13 Tangible fixed assets FSxturo•, furnlture & oqulpmgnt Motor vohl¢l• Total Cost Al 1 January 2024 49,399 46,500 95.899 At 31 December 2024 49,399 46,500 95,899 Depreciation and Impalmient At 1 January 2024 Depreciation charged in the year 47,738 1,661 20,344 6,539 68,082 8,200 At 31 Dember 2024 49,399 26,883 76,282 Carrylng amount At 31 December 2024 19,617 19,817 At 31 December 2023 1,661 26.156 27,817 14 Debtor• 2024 Amounts falllng due wlthln one year.. 2023 Trade debtors Other debtors 2,204 21,270 54,003 54,003 23,474 16 Creditor8: amounts falllng due wlthin one year 2024 2023 Other taxation and soclal securty Trade creditors Other creditors 7,735 27,237 81,600 6,439 28,830 116,572 35,269 16 Retlrement benefft schemos 2024 Defined contribution schemes 2023 Charge to profit or loss in resped of defined contribution schemes 4,098 3,262 17-
MOSAIC CHURCH COVENTRY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 16 Retirement benefit schemes (Continuedl The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. Contributions lotalling £1,173 (2023 - £732) were payable to the fund al the balance sheet date and are included in creditors. 18-
MOSAIC CHURCH COVENTRY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 17 Restricted funds The restricted funds of the charrty comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. Movement in funds Incomlng Resourc05 Translgrs rpsour5 xn•d Movement in funds Incomlng Rosourc95 rnsourc•s èxponded 8alanc• at l January 2023 Balanco at 1 January 2024 Transfo Balan at 31 Dgcambgr 2024 Albania Fund WM Police Fund Nalional Lottery Hope Hub Grant Pastors Fund Foodbank Grants and Donations Building Fund Coleshill Manor Fund Mission Fund Cost of Living Grant 5.549 12,575 2,500 234,744 55,OtM) {14.474) (4.856) (249.086) (58.144) (6.050) 3.650 43,743 (39,941) 7,452 2,356 9.525 3.144 4,817 145.066 (142,397) 2.669 7.355 55.089 43,576 3.250 171.453 34.690 6.397 3,618 2,042 136.469 23.862 75,OiYJ (6.246) 622 173,495 30.304 6.623 116,364 177,004 6.397 (185.890) {140.855) (23.636) (94.285) 19,285 116.386 606,529 (518.500) 15.025 219.440 429.800 (447,360) 19.285 221.165 19-
MOSAIC CHURCH COVENTRY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 17 Restricted ndS (Continued) Albania Fund- Supports the c05t of full time missionary in Sarande Albanta National Lottery Hope Hub Grants and Cost of Ltving Grant- National Lottery funding for oulreach projects at the Hope Centre Foodbank Grants and Donations - Various small grants arKI donations to support the work of the foodbank Pastor Fund - Costs associated with the Lead Pastor WM Police Fund IAII Churches Trust- Grant and funds to support the work and projects undertaken at the Hope Hub Building Fund - Funds donated towards the costs of developing a new church building Coleshill Manor Fund - Temporary accommodation for Ukrainian refugees under the govemment's Home for Ukraine stheme Mission Fund _ supports the costs of churches. charities and missions in the UK arKI worldwide -20-
MOSAIC CHURCH COVENTRY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 18 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been sel aside out of unreslricled funds by the trustee5 for specific purposes. At 1 January 2024 Incomlng resource8 Resources expended Transfern At31 DeGember 2024 General funds 51,129 550,916 {469.999) (19,285) 112,781 Prevlou8 year: At 1 January 2023 Incoming ReSoUe8 resources expended Trangfer8 At31 December 2023 General funds 63,241 381,377 1378.464) (15,025) 51,129 19 Analy816 of net assets between funds Unrestrlcted fund8 2024 Restrlcted funds 2024 Totsl 2024 At 31 December 2024: Tangible assets Current assetsl(liabilitiesl 19,617 93,144 19,617 314,309 221,165 112,761 221.165 333,926 Unrestrlcted funds 2023 Re8trlcted funds 2023 Totsl 2023 At 31 December 2023: Tangible assets Current assetsllliabilitiesl 1,661 49,468 26,156 193,284 27,817 242,752 51,129 219,440 270,569 21
MOSAIC CHURCH COVENTRY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 20 Related paty transactions During the year the charity entered into the following transactions with related parties.. Mark Nettleton The charity paid Amplifyouth Ltd £15.000 (2023 £10,500) in the year, a company which Rebecca Nettleton, wife of Mark Nellleton, owns 1000A of the issued share ¢apital of the company. The balance due to the company al the end ofthe year was £Nil {2023 £Nil) Grants received Grants received in Ihe year from Imagine The Day of £235,146 (2023 £366,745). A charity where Andrew Edmislon is a trustee. 21 Analys1$ of change8 In net funds The charity had no material debt during the year. -22-