Charity's Registered Number: 514595
HUDDERSFIELD CHRISTIAN FELLOWSHIP
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
HUDDERSFIELD CHRISTIAN FELLOWSHIP
| CONTENTS | PAGE |
|---|---|
| Trustees’ Report | 1 - 4 |
| Statement of Trustees’ Responsibilities | 5 |
| Auditors’ Report | 6 - 8 |
| Statement of Financial Activities | 9 - 10 |
| Balance Sheet | 11 - 12 |
| Statement of Cash Flow | 13 - 14 |
| Notes to the Accounts | 15 - 25 |
| Revenue and Trading Accounts | 26 - 28 |
HUDDERSFIELD CHRISTIAN FELLOWSHIP
Trustees’ Report for the Year Ended 31 January 2024
The trustees present their report and accounts for the year ended 31 January 2024.
The accounts have been prepared in accordance with the accounting policies note set out in note 1 to the accounts and comply with the Charities Act 2011 and the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).
(a) REFERENCE AND ADMINISTRATIVE DETAILS
REGISTERED OFFICE Cathedral House St Thomas Road Huddersfield HD1 3LG STATUS Charity governed under Trust Deed Dated 16 November 1983: No 514595 TRUSTEES Mr J Clarkson Mr S Gladstone Mr C Campbell Mr J Skinner Mr A Smith Mr J Nichols Mr A Goggins Mr J Lewis Mr M Sidding TRUST SECRETARY Mr J Lewis BANKERS Barclays Bank Plc 17 Market Place Huddersfield HD1 2AB AUDITORS Simpson Wood Limited Chartered Accountants Bank Chambers Market Street Huddersfield HD1 2EW
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HUDDERSFIELD CHRISTIAN FELLOWSHIP
Trustees’ Report for the Year Ended 31 January 2024
(b) OBJECTIVES AND ACTIVITIES OF THE CHARITY
Objectives
The objects of the Fellowship as laid down in the Declaration of Trust, dated 16 November 1983 are: -
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The proclamation and furtherance of the gospel of God concerning His Son, Jesus Christ our Lord, and the preaching and teaching of the Christian faith throughout the Huddersfield area and elsewhere.
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The furtherance of the Christian work of the Huddersfield Christian Fellowship at Huddersfield being that of the believers holding the doctrines of belief set forth in the schedule to the Declaration of Trust. Details of this doctrinal basis of belief are as follows:-
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a) The divine inspiration and infallibility of Holy Scripture (the Bible) as originally given and its supreme authority in all matters of faith and conduct.
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b) The unity of the Father, the Son and the Holy Spirit in the Godhead.
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c) The universal sinfulness and guilt of human nature since the fall rendering man subject to God’s wrath and condemnation.
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d) Redemption from the guilt penalty and power of sin only through the sacrificial death (as our representative and substitute) of Jesus Christ, the incarnate Son of God.
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e) The resurrection of Jesus Christ from the dead.
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f) The necessity of the work of the Holy Spirit to make the death of Christ effective to the individual sinner, granting him repentance towards God and faith in Jesus Christ.
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g) The indwelling and work of the Holy Spirit in the believer.
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h) The expectation of the personal return of the Lord Jesus Christ.
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The relief of human suffering and poverty consequent upon the effect of personal, local, national or international disaster.
Policies to achieve objectives
The policies of the Fellowship are formulated to facilitate the establishment of a local church which acts as a positive influence on the local community, and which seeks to be a benefit to other local churches, both nationally and internationally, in their efforts to spread the gospel of Jesus Christ. We have decided that reaching this goal is the best way to ensure the achievement of the above stated objectives. The following policies are designed to assist the Fellowship in fulfilling its perceived role:
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The continued development of the Fellowship’s Youth programme.
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The expansion of relationships with churches nationally and internationally.
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The continued financial support of both individuals and religious organisations.
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The continued support of Centre Books and Crafts.
Activities
Youth programme :- The Fellowship has six youth groups that meet on Saturday evenings with over 220 attending each Saturday night. These groups cover an age range of 7 – 30. There are also five Sunday school groups with an age range of 4 – 13, plus a creche. On a Sunday there are around 200 children in attendance. The training programme for youth is still interested in developing musical skills continued throughout the year and it is pleasing to note that a number of these young musicians are still graduating into the main church worship team. There is a steady progression in this area. The Youth recently went for their annual week away which proved valuable with the building of relationships within the church.
Music and Media :- The Fellowship has a reputation for musical excellence and the positive impact of a strong worshipping church has been significantly seen across the whole congregation during this past year.
Church relationships :- Relationships with other churches have further flourished once again this year. Our relationships with churches have resulted in trips to the USA, Tanzania, Kenya and The Netherlands.
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HUDDERSFIELD CHRISTIAN FELLOWSHIP
Trustees’ Report for the Year Ended 31 January 2024
Financial support :- The charity has performed remarkably.
The financial year has seen charitable income increase by 11.2% over the prior year, but net income in resources has decreased by £144,000. During the course of the year the charity has repaid £589,162 against the bank loan which now stands at £3,034,840 (2023: £3,624,000).
Centre Books and Crafts :- The businesses experienced a 15% Year-On-Year revenue growth, surpassing the 23/24 budget by 6%. Every department, except for the Book Shop, achieved YOY growth ranging from 6% to 26%. The Book Shop, however, faced a £4k decline in annual revenue, reflecting a 7% decrease in turnover YOY. Despite this, the reduction in stock value by 26% freed up approximately £9k in cash. Overall, there was a 33% increase in operating profit YOY for the businesses, resulting in a £10.5k improvement over the 22/23 operating profit.
Cathedral House Care Services :- Cathedral House Care Services continues to be operational. The objective of this service is to provide care for an increasingly elderly generation of the congregation and to facilitate their needs both for now and for the future. Having said this the care is not solely restricted to the elderly with more and more church members in their 40’s and 50’s needing similar care. We continue to look forward to its growth over the next few years.
(c) ORGANISATION GOVERNANCE, STRUCTURE AND MANAGEMENT
Governance
The charity is governed under a trust deed dated the 16[th] November 1983.
Structure and management
Overall responsibility for the Fellowship lies with the trustees, of whom there are 9, with a team of elders responsible for overseeing the church and the church’s businesses. These two bodies, the trustees and elders while being two distinct groups have a number of common members and between them are responsible for the formulating and implementation of policies designed to further the objectives of the Fellowship. The power for the appointment or removal of trustees lies with the trustees themselves.
Method adapted for recruitment and appointment of new trustees
Fellowship’s membership. The criteria for choosing trustees are their commitment to the Fellowship and the usefulness to the Fellowship of their professional expertise.
Policies and procedures adapted for the introduction and training of new trustees
New trustees are trained very much ‘on the job’ with initially very close supervision. All work undertaken, especially by new trustees is closely monitored with regular reporting back to the Chairman of the Trust.
Risk management
The trustees have considered the major risks to which the charity is exposed, in particular those relating to the operations and finances, and are satisfied that systems are in place to mitigate their exposure to these.
Remuneration Policy
The Board of Trustees are responsible for approving changes to pay. Staff are in bands and will be remunerated depending on their roles and responsibilities within the organisation. The pay reviews will be every three years with the next review taking place in October / November 2024 with January 2025 being the commencement of any changes.
(d) FINANCIAL REVIEW OF THE YEAR
Relationship with related parties
The Fellowship owns the entire share capital of Cathedral House Media Ltd, Promised Land Developments Ltd and Cathedral House Care Services Ltd. The results of these subsidiaries have been incorporated in the consolidated figures of the Fellowship. Promised Land Developments Ltd is a property development company.
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HUDDERSFIELD CHRISTIAN FELLOWSHIP Trustees, Report for the Year Ended 31 January 2024 A refinancing exercise was conducted post year end as a result of which the existing loan was repaid on 29th August 2023 and a new loan 5-year facility of £3.75m in the n8me of Huddersfield Chrisian Fe150w- ship Registered Charrty was agreed with Barclays Bank Plc. The loan includes a variable rate contract at 8 rale of 2.75Yo above base. In addition, a £200,000 overdraft facility in Ihe name of Huddersfield Chrisian Fellowship Registered Charity is in pla. This is expected to reduce dovm to nil by August 2024. (e) RESERVES POLICY The Iwstees have a formal reserves policy which to set a free cash headroom equivalenl to two months of operaling costs for the organisation as a desired level of cash reserve. This cash headroom is a con- tingency in the event of 8 sudden reduction in income, in order to protect the future operation of th8 organisation from the effects of any unforeseen variations in ils income and expenditure. It also provides a cash flow for gifts. 9rants and conlracts that are paid in arrears. The trustees continue to be confidenl Ihat the Fellowship's cash flow is such that It is well able lo meet all its short term and medium-term commitments. ifj ACHIEVEMENTS AND PERFORMANCE Cathedral House continues to operate with a successful local and national profile to a level higher than the size of the congregation merits. Churches still look towards the Fellowship for guidance and practical assistance and conlinues to dig deep especially into ils hum8n resources in order to assist other churches around the world, but it is pleasing to reporl Ihat we have never found ourselves unable to help those who have looked to us for assistan. as in previous years. PLANS FOR FUTURE PERIOD Futur8 plans ar8 basically °more of the sam8". There is. of course. the need to be financially prudent given the large payments that are still being made in repayment of our mortgage. On the other hand. however, it would be short slghted lo cut back on our core activities as il is these that have brought the Fellowship Ihe level of success it has enjoyed over Ihe years. Financial matters aside. we will continue being pro-active in trying to achieve our ultimate aim of taking the "good news" of Ihe Chrislian Faith lo as wide an audience as possible. On behalf of the bcArd of trustees J Lewis Truslee Dated: 20 October 2024 Page 4
HUDDERSFIELD CHRISTIAN FELLOWSHIP
Statement of Trustees' Responsibilities for the Year Ended 31 January 2024
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements, and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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HUDDERSFIELD CHRISTIAN FELLOWSHIP
Independent Auditor’s report to the Trustees of Huddersfield Christian Fellowship for the Year Ended 31 January 2024
Opinion
We have audited the financial statements of Huddersfield Christian Fellowship (the ‘charity’) for the year ended 31 January 2024 which comprise the statement of financial activities, the balance sheet and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
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give a true and fair view of the state of the charitable company affairs as at 31 January 2024 and its incoming resources and application of resources, for the year ended; and
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have been properly prepared in accordance with United Kingdom General Accepted Accounting Practice.
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have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and provisions available for small entities, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you were:
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the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
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the trustees’ have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charity’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
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the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records; or
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we have not received all the information and explanation we require for our audit.
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HUDDERSFIELD CHRISTIAN FELLOWSHIP
Independent Auditor’s report to the Trustees of Huddersfield Christian Fellowship for the Year Ended 31 January 2024
Responsibilities of trustees
As explained more fully in the statement of trustees’ responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Extent to which the audit was considered capable of detecting irregularies including fraud
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
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we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charity, including Charities Act 2011, Charities (accounts and Reports) Regulation 2008, data protection and anti-bribery legislation;
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we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
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identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
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making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
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considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations and.
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performed analytical procedures to identify any unusual or unexpected relationships.
To address the risk of fraud through management bias and override of controls, we:
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tested journal entries to identify unusual transactions;
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assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias and;
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investigated the rationale behind significant or unusual transactions.
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HUDDERSFIELD CHRISTIAN FELLOWSHIP Independent Auditor's report to the Trustees of Huddersfield Christian Fellowship for the Year Ended 31 January 2024 In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included. but were not limited to,. agreeing financial statement disclosures to underlying supporting do¢umenlalion', reading the minutes of meelings of those charged viith governance and. enquiring of management as to actual and potential litigatson and claims. There are inherenl limitations in our audit procedures described above. Th8 more removed that laws and regulalions are from financi81 transactions. Ihe les5 likely it is Ihal we would become aware of non-compliance. Auditing standards also limit the audit procedures reqUId to identify non-compliance wilh laws and regulations to enquiry of the trustees and olher management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect Ihan those that arise from error as they may involve deliberate concealment or collusion. Use of our report This report is made solely to the charity's trustees. as a body. in accordance with part 4 of lh8 charities (Accounts and Reports) Regulalion 2011. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required lo state to them in an auditors. report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as 8 body, for our audit vrk, for this report, or for the opinions we have fomied. Sukhbindor Khangura BA FCA (Senior Stalutory Auditor) For and on behalf of Simpson Wood Limited Chartered Accountants Slatutory Auditor Bank Chambers Market S¢et Huddersfi8ld HD12EW Dated: 20 October 2024 Page 8
HUDDERSFIELD CHRISTIAN FELLOWSHIP
Consolidated Statement of Financial Activities for the Year Ended 31 January 2024
| Income and Expenditure Incoming Resources Fund Raising Income 2 Charitable Income 3 Investment Income 4 Other Income 5 Total Incoming Resources Resources Expended Fund Raising Costs 6 Charitable Activities 7 Governance Costs 8 Finance Costs 9 Total Resources Expended 10 Net Incoming Resources for the Year Balances brought forward at 1 February Balances carried forward at 31 January |
2024 £ 433,879 1,592,238 1,417 169,554 |
2023 £ 369,939 1,432,062 32 133,925 |
|---|---|---|
| 2,197,088 | 1,935,958 | |
| 442,562 1,323,667 69,695 258,301 |
419,595 1,131,974 32,700 104,944 |
|
| 2,094,225 | 1,689,213 | |
| 102,863 9,719,114 |
246,745 9,472,369 |
|
| 9,821,977 | 9,719,114 |
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HUDDERSFIELD CHRISTIAN FELLOWSHIP
Statement of Financial Activities for the Year Ended 31 January 2024
| Note Income and Expenditure Incoming Resources Fund Raising Income 2 Charitable Income 3 Investment Income 4 Other Income 5 Total Incoming Resources Resources Expended Fund Raising Costs 6 Charitable Activities 7 Governance Costs 8 Finance Costs 9 Total Resources Expended 10 Net (Outgoing)/Incoming Resources for the Year Balances brought forward at 1 February Balances carried forward at 31 January |
2024 £ 433,879 1,592,238 1,417 108,392 |
2023 £ 369,939 1,432,062 32 81,697 |
|---|---|---|
| 2,135,926 | 1,883,730 | |
| 442,562 2,776,403 58,753 136,517 |
419,595 894,250 23,412 163 |
|
| 3,414,235 | 1,337,420 | |
| (1,278,309) 13,842,000 |
546,310 13,295,690 |
|
| 12,563,691 | 13,842,000 |
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HUDDERSFIELD CHRISTIAN FELLOWSHIP Consolidated Balance Sheet at 31 January 2024 Note 2024 2023 Flxed assets Tangible fixed assets Investments 14 15.75g.710 15 13.316,705 Current assets Stock Debtors Cash at bank and in hand 16 17 33.986 112,440 329,768 476,193 36.046 69.143 91,153 196,342 Llabllltles: amounts falllng due wfthln one year 18 559,492 740.569 Net Current (Liabilities) (83,299) (544.227) Total Assets less Current Liabilities 15,678,412 12,772,478 Liabilities: amounts falling due after more than one year 19 3.275.453 3.053.364 Net Assets 12,400 959 9 719 114 Income Funds Unrestricted Revaluation reserve 9.821.977 2.578.982 12 400 959 9.719.114 9719114 These accounts togelh8r wilh the Truste8s Report were approved by the Board of Trustees on 200ctober 2024 and signed on its behalf by: Inner ewis S Gladslone Page11
HUDDERSFIELD CHRISTIAN FELLOWSHIP
Balance Sheet at 31 January 2024
| Note | 2024 | 2023 | |
|---|---|---|---|
| £ | |||
| Fixed assets | |||
| Tangible fixed assets | 14 | 15,758,072 | 195,551 |
| Investments | 15 | 104 | 104 |
| Current assets | |||
| Stock | 16 | 33,986 | 36,046 |
| Debtors | 17 | 319,566 | 13,588,280 |
| Cash at bank and in hand | 325,709 | 85,625 | |
| 679,261 | 13,709,951 | ||
| Liabilities: amounts falling due within one year | 18 | 598,294 | 63,606 |
| Net Current As ets | 80,968 | 13,646,345 | |
| Total Assets less Current Liabilities | 15,839,143 | 13,842,000 | |
| Liabilities: amounts falling due after more than one year | 19 | 3,275,453 | |
| Net Assets | 12,563,691 | 13,842,000 | |
| Income Funds | |||
| Unrestricted | **12,563,691 ** | 13,842,000 |
These accounts together with the Trustees Report were approved by the Board of Trustees on 20 October 2024 and signed on its behalf by:
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S Gladstone
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HUDDERSFIELD CHRISTIAN FELLOWSHIP
Consolidated Cash Flow at 31 January 2024
| Note Cash flow from operating activities Cash generated from operations 25 Finance costs 9 Net cash inflow from operations Investing activities Purchase of tangible fixed assets Proceeds from sale of fixed assets Net cash used in investing activities Finance activities Bank loan introduced Repayment of bank loans (Repayment)/increase of overdraft Repayment of other loans Net cash provided by (used in) financing activities Net cash increase/(decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at end of year 26 |
2024 £ 565,361 (258,301) |
2023 £ 544,394 (104,944) |
|---|---|---|
| 307,060 (57,909) - |
439,450 (28,643) - |
|
| (57,909) 3,750,000 (3,666,943) (85,593) (8,000) |
(28,643) - (588,713) 85,593 (24,000) |
|
| (10,536) 238,615 91,153 |
(527,120) (116,313) 207,466 |
|
| 329,768 | 91,153 |
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HUDDERSFIELD CHRISTIAN FELLOWSHIP
Cash Flow at 31 January 2024
| Note Cash flow from operating activities Cash generated from operations 25 Finance costs 9 Net cash inflow from operations Investing activities Purchase of tangible fixed assets (including transfer) Proceeds from sale of fixed assets Net cash used in investing activities Finance activities Bank loan introduced Repayment of bank loans Repayment of other loans Net cash provided by (used in) financing activities Net cash increase/(decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at end of year 26 |
2024 £ 13,985,805 (136,517) |
2023 £ (5,184) (163) |
|---|---|---|
| 13,849,288 (17,307,997) - |
(5,347) (28,643) - |
|
| (17,307,997) 3,750,000 (43,207) (8,000) |
(28,643) - - (24,000) |
|
| 3,698,793 240,084 85,625 |
(24,000) (57,990) 143,615 |
|
| 325,709 | 85,625 |
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HUDDERSFIELD CHRISTIAN FELLOWSHIP
Notes to the Financial Statements for the Year Ended 31 January 2024
1 Accounting Policies
Accounting Convention
The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
Donations and Gifts
Donations and Gifts represents monies receivable on a regular basis from the congregation including relevant tax recovered or recoverable.
Turnover
Turnover is derived from individual giving/collections, income from the coffee shop, bookshop, Fizzy Lizard play gym, providing care-services and hospitality and events.
Costs
Costs are recognised when incurred and are allocated as far as possible to their functional classification. Where expenditure involves more than one cost category expenditure is apportioned on a usage basis.
Tangible fixed assets
Depreciation is provided on all tangible fixed assets, other than land, in order to write off the cost, less estimated residual value of each asset over its expected useful life, at the following annual rates: -
| Freehold Building | - 1% on a straight-line basis |
|---|---|
| Property Improvements | - 15% on reducing balance basis |
| Fixtures, Fittings & Equipment | - 15% on reducing balance basis |
| Motor Vehicle | - 20% on reducing balance basis |
Revaluation of fixed assets
Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.
Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in the Statement of Financial Activities, or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in the Statement of Financial Activities.
Impairment of fixed assets
At each reporting period end date, the company 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 asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
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HUDDERSFIELD CHRISTIAN FELLOWSHIP
Notes to the Financial Statements for the Year Ended 31 January 2024
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
Stock
Stock is valued at the lower of cost or net realisable value.
Investments
Investments are stated at cost value.
Value Added Tax
Irrecoverable Value Added Tax is added on to the relevant net expense.
Taxation
As a charity the Fellowship is not liable to corporation taxation other than trading income, which could be potentially taxable. This is assessed on a yearly basis. Recovery is therefore made of tax credits and tax deducted from income and from receipts under Gift Aid. The Fellowship is also able to partially recover Value Added Tax.
Government Grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
Employee Benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Foreign Exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
Page 16
HUDDERSFIELD CHRISTIAN FELLOWSHIP
Notes to the Financial Statements for the Year Ended 31 January 2024
Judgement and key sources of estimation and uncertainty
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 historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to 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.
Consolidation
The Fellowship has three wholly owned subsidiaries, Promised Land Developments Limited, Cathedral House Media Limited and Cathedral House Care Services Limited. These subsidiaries have been consolidated in these financial statements.
Page 17
HUDDERSFIELD CHRISTIAN FELLOWSHIP
Notes to the Financial Statements for the Year Ended 31 January 2024
| 2 Fund Raising Income Catering Centre Books and Crafts 3 Charitable Income Offerings and Tithes Donations 4 Investment Income Bank Interest 5 Other Income 2024 2023 £ £ Rents Received 61,719 69,223 Trips 43,756 9,101 Sundries 2,917 3,373 Domiciliary Care Fees 53,530 52,228 Government Grants 7,632 - 169,554 133,925 6 Fund Raising Costs Catering Books and Music Coffee, Book Shop, Fizzy Lizard and Care Services - Cost of Sales Wages and Salaries Training costs and uniform Rates, Water and Insurance Conference Fees and Subscriptions Office costs and repairs Postage, Stationery and Advertising Bank and Credit Charges Incidentals Depreciation (Consolidated) |
2024 2023 £ £ 61,719 69,223 43,756 9,101 2,917 3,373 53,530 52,228 7,632 - (Consolidated) |
2024 2023 £ £ 61,719 69,223 43,756 9,101 2,917 3,373 53,530 52,228 7,632 - (Consolidated) |
2024 £ 22,653 411,226 |
2023 £ 15,326 354,613 |
|---|---|---|---|---|
| 433,879 | 369,939 | |||
| 2024 £ 1,571,310 20,928 |
2023 £ 1,390,885 41,177 |
|||
| 1,592,238 | 1,432,062 | |||
| 2024 £ 1,417 |
2023 £ 32 |
|||
| 1,417 | 32 | |||
| 169,554 | 133,925 | 108,392 | 81,697 | |
| 2024 £ 27,129 12,888 155,461 211,788 228 3,778 2,634 8,994 2,444 9,396 224 7,598 |
2023 £ 23,750 6,049 142,093 214,383 328 2,595 2,892 11,386 1,120 7,112 235 7,652 |
|||
| 442,562 | 419,595 |
Page 18
HUDDERSFIELD CHRISTIAN FELLOWSHIP
Notes to the Financial Statements for the Year Ended 31 January 2024
| 7 Charitable activities 2024 2023 £ £ Trustees Remuneration 170,000 170,000 Elders Non-Trustee Remuneration 131,625 59,333 Missions and Outreach 33,288 31,130 Gifts (note 21) 70,519 34,873 Property Running Costs 239,428 162,239 Youth and children's work 1,279 840 Trips 41,712 20,860 Wages and Salaries 304,839 387,751 Staff training and uniform 2,087 119 Printing, Postage, Stationery and Advertising 6,024 6,295 Conference Fees and Subscriptions 33,629 21,545 Events costs 1,090 1,314 IT costs 19,825 19,248 Motor Expenses 9,249 4,707 Cleaning 8,108 7,537 Bank and Credit Charges 11,268 6,564 Sundry Expenses 1,927 227 Bad and Doubtful Debts - 19 Operating Lease Rental 51,452 36,517 Depreciation 158,740 160,256 Loss/(Profit) on disposal of fixed assets 27,577 600 Impairment loss on the valuation of property - - 1,323,667 1,131,974 8 Governance costs 2024 2023 £ £ Audit and Accountancy Fees 15,602 16,567 Professional Fees 54,093 16,133 69,695 32,700 9 Finance costs 2024 2023 £ £ Bank interest on loans 258,235 104,781 Hire purchase interest - 163 Interest on overdue taxation 66 - 258,301 104,944 10 Total Resources Expended (Consolidated) Staff Dep'n Other Costs Costs £ £ £ Fund Raising and Publicity 211,788 7,598 223,176 Charitable Activities 606,464 158,740 558,463 Governance Costs - - 69,695 Finance Costs - - 258,301 818,252 166,338 1,109,634 (Consolidated) (Consolidated) (Consolidated) |
7 Charitable activities 2024 2023 £ £ Trustees Remuneration 170,000 170,000 Elders Non-Trustee Remuneration 131,625 59,333 Missions and Outreach 33,288 31,130 Gifts (note 21) 70,519 34,873 Property Running Costs 239,428 162,239 Youth and children's work 1,279 840 Trips 41,712 20,860 Wages and Salaries 304,839 387,751 Staff training and uniform 2,087 119 Printing, Postage, Stationery and Advertising 6,024 6,295 Conference Fees and Subscriptions 33,629 21,545 Events costs 1,090 1,314 IT costs 19,825 19,248 Motor Expenses 9,249 4,707 Cleaning 8,108 7,537 Bank and Credit Charges 11,268 6,564 Sundry Expenses 1,927 227 Bad and Doubtful Debts - 19 Operating Lease Rental 51,452 36,517 Depreciation 158,740 160,256 Loss/(Profit) on disposal of fixed assets 27,577 600 Impairment loss on the valuation of property - - 1,323,667 1,131,974 8 Governance costs 2024 2023 £ £ Audit and Accountancy Fees 15,602 16,567 Professional Fees 54,093 16,133 69,695 32,700 9 Finance costs 2024 2023 £ £ Bank interest on loans 258,235 104,781 Hire purchase interest - 163 Interest on overdue taxation 66 - 258,301 104,944 10 Total Resources Expended (Consolidated) Staff Dep'n Other Costs Costs £ £ £ Fund Raising and Publicity 211,788 7,598 223,176 Charitable Activities 606,464 158,740 558,463 Governance Costs - - 69,695 Finance Costs - - 258,301 818,252 166,338 1,109,634 (Consolidated) (Consolidated) (Consolidated) |
7 Charitable activities 2024 2023 £ £ Trustees Remuneration 170,000 170,000 Elders Non-Trustee Remuneration 131,625 59,333 Missions and Outreach 33,288 31,130 Gifts (note 21) 70,519 34,873 Property Running Costs 239,428 162,239 Youth and children's work 1,279 840 Trips 41,712 20,860 Wages and Salaries 304,839 387,751 Staff training and uniform 2,087 119 Printing, Postage, Stationery and Advertising 6,024 6,295 Conference Fees and Subscriptions 33,629 21,545 Events costs 1,090 1,314 IT costs 19,825 19,248 Motor Expenses 9,249 4,707 Cleaning 8,108 7,537 Bank and Credit Charges 11,268 6,564 Sundry Expenses 1,927 227 Bad and Doubtful Debts - 19 Operating Lease Rental 51,452 36,517 Depreciation 158,740 160,256 Loss/(Profit) on disposal of fixed assets 27,577 600 Impairment loss on the valuation of property - - 1,323,667 1,131,974 8 Governance costs 2024 2023 £ £ Audit and Accountancy Fees 15,602 16,567 Professional Fees 54,093 16,133 69,695 32,700 9 Finance costs 2024 2023 £ £ Bank interest on loans 258,235 104,781 Hire purchase interest - 163 Interest on overdue taxation 66 - 258,301 104,944 10 Total Resources Expended (Consolidated) Staff Dep'n Other Costs Costs £ £ £ Fund Raising and Publicity 211,788 7,598 223,176 Charitable Activities 606,464 158,740 558,463 Governance Costs - - 69,695 Finance Costs - - 258,301 818,252 166,338 1,109,634 (Consolidated) (Consolidated) (Consolidated) |
7 Charitable activities 2024 2023 £ £ Trustees Remuneration 170,000 170,000 Elders Non-Trustee Remuneration 131,625 59,333 Missions and Outreach 33,288 31,130 Gifts (note 21) 70,519 34,873 Property Running Costs 239,428 162,239 Youth and children's work 1,279 840 Trips 41,712 20,860 Wages and Salaries 304,839 387,751 Staff training and uniform 2,087 119 Printing, Postage, Stationery and Advertising 6,024 6,295 Conference Fees and Subscriptions 33,629 21,545 Events costs 1,090 1,314 IT costs 19,825 19,248 Motor Expenses 9,249 4,707 Cleaning 8,108 7,537 Bank and Credit Charges 11,268 6,564 Sundry Expenses 1,927 227 Bad and Doubtful Debts - 19 Operating Lease Rental 51,452 36,517 Depreciation 158,740 160,256 Loss/(Profit) on disposal of fixed assets 27,577 600 Impairment loss on the valuation of property - - 1,323,667 1,131,974 8 Governance costs 2024 2023 £ £ Audit and Accountancy Fees 15,602 16,567 Professional Fees 54,093 16,133 69,695 32,700 9 Finance costs 2024 2023 £ £ Bank interest on loans 258,235 104,781 Hire purchase interest - 163 Interest on overdue taxation 66 - 258,301 104,944 10 Total Resources Expended (Consolidated) Staff Dep'n Other Costs Costs £ £ £ Fund Raising and Publicity 211,788 7,598 223,176 Charitable Activities 606,464 158,740 558,463 Governance Costs - - 69,695 Finance Costs - - 258,301 818,252 166,338 1,109,634 (Consolidated) (Consolidated) (Consolidated) |
2024 2023 170,000 170,000 131,625 59,333 33,288 31,130 70,519 34,873 237,169 159,886 1,279 840 41,712 20,860 224,443 291,935 - - 5,892 6,145 31,212 21,545 1,090 1,314 19,825 19,248 8,989 4,320 8,011 7,346 3,110 2,321 1,901 227 - - 51,452 36,517 80,830 25,810 27,577 600 1,626,478 - 2,776,403 894,250 2024 2023 £ £ 7,965 7,737 50,788 15,675 58,753 23,412 2024 2023 £ £ 136,517 - - 163 - - 136,517 163 Total Total 2024 2023 £ £ 442,562 419,595 1,323,667 1,131,974 69,695 32,700 258,301 104,944 2,094,225 1,689,213 (Charity) (Charity) (Charity) |
2024 2023 170,000 170,000 131,625 59,333 33,288 31,130 70,519 34,873 237,169 159,886 1,279 840 41,712 20,860 224,443 291,935 - - 5,892 6,145 31,212 21,545 1,090 1,314 19,825 19,248 8,989 4,320 8,011 7,346 3,110 2,321 1,901 227 - - 51,452 36,517 80,830 25,810 27,577 600 1,626,478 - 2,776,403 894,250 2024 2023 £ £ 7,965 7,737 50,788 15,675 58,753 23,412 2024 2023 £ £ 136,517 - - 163 - - 136,517 163 Total Total 2024 2023 £ £ 442,562 419,595 1,323,667 1,131,974 69,695 32,700 258,301 104,944 2,094,225 1,689,213 (Charity) (Charity) (Charity) |
|---|---|---|---|---|---|
| 1,323,667 | 1,131,974 | 2,776,403 | 894,250 | ||
| 2024 2023 £ £ 15,602 16,567 54,093 16,133 (Consolidated) |
|||||
| 69,695 | 32,700 | 58,753 | 23,412 | ||
| 2024 2023 £ £ 258,235 104,781 - 163 66 - (Consolidated) |
|||||
| 258,301 | 104,944 | 136,517 | 163 | ||
| Other Costs £ 223,176 558,463 69,695 258,301 |
Total 2024 £ 442,562 1,323,667 69,695 258,301 |
Total 2023 £ 419,595 1,131,974 32,700 104,944 |
|||
| 818,252 | 166,338 | 1,109,634 | 2,094,225 | 1,689,213 |
Page 19
HUDDERSFIELD CHRISTIAN FELLOWSHIP
Notes to the Financial Statements for the Year Ended 31 January 2024
| Staff Costs: Wages and Salaries Social Security Costs Pension costs |
2024 2023 £ £ 757,693 777,262 50,352 43,587 10,207 10,618 818,252 831,467 (Consolidated) |
2024 2023 £ £ 757,693 777,262 50,352 43,587 10,207 10,618 818,252 831,467 (Consolidated) |
|---|---|---|
| 818,252 | 831,467 |
Higher paid staff
The number of employees whose employee benefits (excluded employers pension costs and employer national insurance contributions) exceeded £60,000 was:
| £60,000-£70,000 The average number of employees was: Full Time Part Time Total Resources Expended (Charity) Staff Dep'n Costs £ £ Fund Raising and Publicity 211,788 7,598 Charitable Activities 526,068 80,830 Governance Costs - - Finance Costs - - 737,856 88,428 Staff Costs: Wages and Salaries Social Security Costs Pension costs |
£60,000-£70,000 The average number of employees was: Full Time Part Time Total Resources Expended (Charity) Staff Dep'n Costs £ £ Fund Raising and Publicity 211,788 7,598 Charitable Activities 526,068 80,830 Governance Costs - - Finance Costs - - 737,856 88,428 Staff Costs: Wages and Salaries Social Security Costs Pension costs |
£60,000-£70,000 The average number of employees was: Full Time Part Time Total Resources Expended (Charity) Staff Dep'n Costs £ £ Fund Raising and Publicity 211,788 7,598 Charitable Activities 526,068 80,830 Governance Costs - - Finance Costs - - 737,856 88,428 Staff Costs: Wages and Salaries Social Security Costs Pension costs |
Other Costs £ 223,176 2,169,505 58,753 136,517 |
2024 Number 1 |
2023 Number 1 |
|---|---|---|---|---|---|
| Number 19 16 |
Number 21 14 |
||||
| 35 | 35 | ||||
| Total 2024 £ 442,562 2,776,403 58,753 136,517 |
Total 2023 £ 419,595 894,250 23,412 163 |
||||
| 737,856 | 88,428 | 2,587,950 | 3,414,235 | 1,337,420 | |
| £ 683,714 45,261 8,881 |
£ 689,536 37,109 9,006 |
||||
| 737,856 | 735,651 |
Higher paid staff
The number of employees whose employee benefits (excluded employers pension costs and employer national insurance contributions) exceeded £60,000 was:
| £60,000-£70,000 The average number of employees was: Full Time Part Time |
2024 Number 1 |
2023 Number 1 |
|---|---|---|
| Number 16 14 |
Number 18 12 |
|
| 30 | 30 |
Page 20
HUDDERSFIELD CHRISTIAN FELLOWSHIP
Notes to the Financial Statements for the Year Ended 31 January 2024
11 Auditor's remuneration
The auditor's remuneration constituted an audit fee of £15,602 (2023 - £13,206).
12 Financial Commitments
At 31 January 2024 the Charity was committed to make the following payments under noncancellable operating leases:
| Operating lease which expires: Within one year Between two and five years Over 5 years |
2024 £ 17,936 56,797 - 74,733 |
2023 £ 17,936 71,742 4,484 |
|---|---|---|
| 94,162 |
13 Transactions with Trustees and Connected Persons
| The Charity has remunerated the following amounts to the Trustees and persons connected to the Trustees: Trustees Jonathan Skinner Senior Pastor Stuart Gladstone Pastor James Lewis Pastor Connected persons Benjamin Sidding - being son of M Sidding Layla Goggins - daughter of A Goggins Rebecca Lewis - daughter of Colin Campbell Wendy Skinner - being the wife of J Skinner Sharn Vaida - being the daughter of J Skinner Jo Lewis - being wife of J Lewis |
2024 £ 65,000 55,000 50,000 170,000 8,611 12,336 188 25,000 17,566 23,928 87,629 |
2023 £ 65,000 55,000 50,000 |
|---|---|---|
| 170,000 | ||
| - - - 25,000 19,123 23,928 |
||
| 68,051 |
Clay Well Consultancy Limited was paid consultancy fees of £58,500 during the year, a company controlled by Jonathan Nichols, a trustee.
No remuneration was made to James Clarkson, Colin Campbell, Adrian Smith, Mark Sidding or Andrew Goggins in either of the two financial years.
No expenses were reimbursed to the Charity's Trustees.
James and Jo Lewis have given a loan to the charity. The loan was fully repaid at the year end (2023: £8,000). This is an interest free loan to support the charity.
Page 21
HUDDERSFIELD CHRISTIAN FELLOWSHIP
Notes to the Financial Statements for the Year Ended 31 January 2024
14 Tangible Fixed Assets (Consolidated)
| Cost Balance at 1 February 2023 Transfer Additions Disposal Revaluation Balance at 31 January 2024 Accumulated Depreciation Balance at 1 February 2023 Transfer Charge for Year Disposal Depreciation eliminated on revaluation Balance at 31 January 2024 Net Book Values At 31 January 2024 At 31 January 2023 |
Freehold Property Property Improvements £ £ 13,579,662 12,333 (4,796) 4,347 - 16,238 (26,433) - 1,951,567 15,500,000 32,918 504,782 2,149 (1,785) 1,785 125,629 3,477 (1,212) - (627,415) - 7,411 15,500,000 25,507 13,074,880 10,184 |
Fixtures Fittings & Equip £ 768,692 449 36,371 (18,502) 787,011 543,851 - 35,492 (16,176) 563,167 223,843 224,841 |
Motor Vehicle £ 46,625 - 5,300 - |
Total £ 14,407,312 - 57,909 (44,935) |
|---|---|---|---|---|
| 51,925 | 14,420,286 | |||
| 39,825 - 1,740 - |
1,090,607 - 166,338 (17,388) |
|||
| 41,565 | 1,239,558 | |||
| 10,360 | 15,759,710 | |||
| 6,800 | 13,316,705 |
A valuation of the building took place on 2 September 2020 by Sanderson Weatherall. Given the nature and purpose of the building the Depreciated Replacement Cost method was used as a means of valuing the property. The report valued the property at £15,500,000. As at the year end 31 January 2024 a view was taken to show the asset at valuation which has led to a revaluation reserve of £2,578,982
Tangible Fixed Assets (Charity)
| Cost Balance at 1 February 2023 Additions Transferred in from Group Company Disposal Revaluation Balance at 31 January 2024 Accumulated Depreciation Balance at 1 February 2023 Charge for Year Transferred in from Group Company Disposal Depreciation eliminated on revaluation Balance at 31 January 2024 Net Book Values At 31 January 2024 At 31 January 2023 |
Freehold Property Property Improvements £ £ - 16,679 - 16,238 17,780,323 - (26,433) - (2,253,890) 15,500,000 32,917 - 3,935 52,276 3,477 576,349 - (1,212) - (627,413) - - 7,412 15,500,000 25,505 - 12,744 |
Fixtures Fittings & Equip £ 635,017 34,691 133,703 (18,502) 784,909 459,010 30,935 88,933 (16,176) - 562,702 222,207 176,007 |
Motor Vehicle £ 46,625 5,300 - - |
Total £ 698,321 56,229 17,914,026 (44,935) |
|---|---|---|---|---|
| 51,925 | 18,623,641 | |||
| 39,825 1,740 - - - |
502,770 88,428 665,282 (17,388) (627,413) |
|||
| 41,565 | 611,679 | |||
| 10,360 | 15,758,072 | |||
| 6,800 | 195,551 |
All assets are held for the furtherance of the Charity's objects and are stated at their historic cost, except for freehold property which is stated at valuation
A valuation of the building took place on 2 September 2020 by Sanderson Weatherall. Given the nature and purpose of the building the Depreciated Replacement Cost method was used as a means of valuing the property. The report valued the property at £15,500,000. As at the year end 31 January 2024 a view was taken to show the asset at valuation which has led to an impairment of £1,626,478
Page 22
HUDDERSFIELD CHRISTIAN FELLOWSHIP
Notes to the Financial Statements for the Year Ended 31 January 2024
| 15 Investments in subsidiary companies Cost at 1 February 2023 Additions Cost at 31 January 2024 |
2024 2023 £ £ - - - - - - (Consolidated) |
2024 2023 £ £ 104 104 - - 104 104 (Charity) |
|---|---|---|
The investment brought forward in subsidiary companies represent the entire share capital of Cathedral House Media Limited of £100, the entire share capital of Promised Land Developments Limited of £2, where 100% of the beneficial interest is owned and Cathedral House Care Services Limited of £2, where 100% of the beneficial interest is owed.
| 16 Stocks 2024 2023 £ £ Bookshop 25,948 27,958 Coffee Shop & Fizzy Lizard 8,038 8,088 33,986 36,046 17 Debtors 2024 2023 £ £ Trade debtors 3,768 5,515 Taxation Recoverable 17,563 13,353 Prepayments 91,109 50,275 Amount Owed by Promised Land Developments Ltd - - Amount Owed by Cathedral House Care Services Ltd - - VAT - - 112,440 69,143 (Consolidated) 18 Liabilities: Amounts due within one year 2024 2023 £ £ Bank Overdraft - 85,593 Trade Creditors 102,470 32,755 PAYE 3,158 4,073 VAT 6,050 10,830 Accruals 16,474 28,946 Amount Owed due to Promised Land Bank loan 431,340 570,372 Other loans - 8,000 559,492 740,569 (Consolidated) (Consolidated) |
2024 2023 £ £ 25,948 27,958 8,038 8,088 33,986 36,046 2024 2023 £ £ 3,528 5,515 17,563 13,353 83,581 42,501 - 13,389,776 168,485 137,135 46,410 - 319,566 13,588,280 (Charity) 2024 2023 £ £ - - 99,977 30,488 1,853 2,358 - 10,830 12,664 11,930 52,460 - 431,340 - - 8,000 598,294 63,606 (Charity) (Charity) |
2024 2023 £ £ 25,948 27,958 8,038 8,088 33,986 36,046 2024 2023 £ £ 3,528 5,515 17,563 13,353 83,581 42,501 - 13,389,776 168,485 137,135 46,410 - 319,566 13,588,280 (Charity) 2024 2023 £ £ - - 99,977 30,488 1,853 2,358 - 10,830 12,664 11,930 52,460 - 431,340 - - 8,000 598,294 63,606 (Charity) (Charity) |
|---|---|---|
| 319,566 | 13,588,280 | |
| (Charity) 2024 £ - 99,977 1,853 - 12,664 52,460 431,340 - |
2023 £ - 30,488 2,358 10,830 11,930 - - 8,000 |
|
| 598,294 | 63,606 |
Page 23
HUDDERSFIELD CHRISTIAN FELLOWSHIP
Notes to the Financial Statements for the Year Ended 31 January 2024
| 19 Liabilities:Amounts falling due after more than one year Within two to five years: Bank Loan In more than five years Bank Loan |
2024 2023 £ £ 3,275,453 2,281,488 - 771,876 3,275,453 3,053,364 (Consolidated) |
2024 2023 £ £ 3,275,453 - - - 3,275,453 - (Charity) |
2024 2023 £ £ 3,275,453 - - - 3,275,453 - (Charity) |
|---|---|---|---|
| - | |||
| - |
20 Security
(Consolidated)
On 13 February 2008 a 20 year £9m loan facility for Promised Land Developments Limited was agreed with Barclays Bank Plc. This allowed the organisation to further develop the new church building.
Promised Land Developments Limited had entered a variable rate interest contract with Barclays PLC at a rate of 1.1% above base.
A refinancing exercise was conducted during the year and as a result of which the existing loan was repaid on 29th August 2023 and a new loan 5 year facility of £3.75m in the name of Huddersfield Christian Fellowship Registered Charity was agreed with Barclays Bank Plc. The loan includes a variable rate contract at a rate of 2.75% above base.
In addition, a £200,000 overdraft facility in the name of Huddersfield Christian Fellowship Registered Charity is in place. This is expected to reduce down to nil by August 2024.
As part of the banking facilities for Huddersfield Christian Fellowship Registered Charity, four of the Trustees have signed a non joint personal guarantee for a limited amount. The total aggregate amount guaranteed by all the Trustees amounts to £232,000.
21 Analysis of grants paid
Included in gifts in note 7 are the following individual and institutional grants made
| No Individual 35 Institutional 3 The following analysis shows grants paid during the year amounted to over £1,000 made to organisations: Elland Christian Centre Gospel Group of Tanzania (Bibles) |
2024 No £ 42,719 9 27,800 - 70,519 £ 25,000 2,300 27,300 |
2023 £ 22,963 - |
|---|---|---|
| 22,963 | ||
| £ - |
||
| - |
The Fellowship had no charitable commitment at the year end.
Page 24
HUDDERSFIELD CHRISTIAN FELLOWSHIP
Notes to the Financial Statements for the Year Ended 31 January 2024
| 25 Cash generated from operations Profit for the year after tax Adjusted for: Finance costs Depreciation of tangible assets Loss/(profit) on sale of assets Impairment losses Movement in working capital Decrease in stock (Increase)/decrease in debtors Increase/(decrease) in creditors Cash generated from operations 26 Analysis of cash and cash equivalents Cash at bank and in hand Total cash and cash equivalents |
2024 2023 £ £ 102,863 246,745 258,301 104,944 166,338 167,908 27,577 600 - - 2,060 1,116 (43,296) 5,939 51,518 17,142 565,361 544,394 2024 2023 329,768 91,153 329,768 91,153 (Consolidated) (Consolidated) |
2024 2023 £ £ (1,278,309) 546,310 136,517 163 88,428 33,462 27,577 600 1,626,478 - 2,060 1,116 13,268,713 (591,146) 114,341 4,311 (Charity) |
|---|---|---|
| 13,985,805 (5,184) |
||
| 2024 2023 325,709 85,625 (Charity) |
||
| 325,709 85,625 |
Page 25
HUDDERSFIELD CHRISTIAN FELLOWSHIP
CHARITY
Revenue Account for the Year Ended 31 January 2024
| INCOME Offerings and Tithes Taxation Refunds Donations Bank Deposit Interest Sundries Rents Received Trips Catering EXPENDITURE Wages Employers NIC Employers Pension costs Property Running Costs Gifts Books and Music Postage and Stationery Advertising Catering Cleaning Conference, Fees and Subscriptions Youth and Childrens Work Trips Professional Fees Audit and Accountancy Fees Trustees Remuneration Elders Non-Trustee Remuneration Missions and Outreach Events Costs IT Costs Motor Expenses Sundries Operating Lease Rental Bank and Credit Charges Hire Purchase Interest Depreciation Loss on Disposal of Fixed Assets Impairment loss on the valuation of property Bank Interest on Loan and Overdraft Surplus For The Year |
£ £ 1,334,168 237,142 20,928 1,417 2,917 61,719 43,756 22,653 1,724,700 173,230 44,025 7,188 237,169 70,519 12,888 4,864 1,028 27,129 8,011 31,212 1,279 41,712 12,385 4,815 170,000 131,625 33,288 1,090 19,825 8,989 1,901 51,452 3,110 - 80,830 27,577 1,626,478 136,517 2,970,137 (1,245,437) 2024 |
£ £ 1,334,168 237,142 20,928 1,417 2,917 61,719 43,756 22,653 1,724,700 173,230 44,025 7,188 237,169 70,519 12,888 4,864 1,028 27,129 8,011 31,212 1,279 41,712 12,385 4,815 170,000 131,625 33,288 1,090 19,825 8,989 1,901 51,452 3,110 - 80,830 27,577 1,626,478 136,517 2,970,137 (1,245,437) 2024 |
£ £ 1,186,294 204,591 41,177 32 3,373 69,223 9,101 15,326 1,529,117 252,468 32,424 7,043 159,886 34,873 6,049 6,123 22 23,750 7,346 21,545 840 20,860 - 4,298 170,000 59,333 31,130 1,314 19,248 4,320 227 36,517 2,321 163 25,810 600 - - 928,510 600,607 2023 |
£ £ 1,186,294 204,591 41,177 32 3,373 69,223 9,101 15,326 1,529,117 252,468 32,424 7,043 159,886 34,873 6,049 6,123 22 23,750 7,346 21,545 840 20,860 - 4,298 170,000 59,333 31,130 1,314 19,248 4,320 227 36,517 2,321 163 25,810 600 - - 928,510 600,607 2023 |
|---|---|---|---|---|
| 173,230 44,025 7,188 237,169 70,519 12,888 4,864 1,028 27,129 8,011 31,212 1,279 41,712 12,385 4,815 170,000 131,625 33,288 1,090 19,825 8,989 1,901 51,452 3,110 - 80,830 27,577 1,626,478 136,517 |
252,468 32,424 7,043 159,886 34,873 6,049 6,123 22 23,750 7,346 21,545 840 20,860 - 4,298 170,000 59,333 31,130 1,314 19,248 4,320 227 36,517 2,321 163 25,810 600 - - |
|||
| (1,245,437) | 600,607 |
Surplus For The Year
Page 26
HUDDERSFIELD CHRISTIAN FELLOWSHIP
CENTRE BOOKS AND CRAFTS
Revenue Account for the Year Ended 31 January 2024
| SALES PURCHASES Stock Movement GROSS PROFIT EXPENDITURE Wages Employers NIC Employers Pension Costs Training costs Rates, Water and Insurance Conference & Subscription fees Office costs and repairs Postage Stationery, IT and Advertising Audit and Accountancy Professional Fees Bank and Credit Charges Incidentals (Loss) / Profit Before Depreciation Less: Depreciation (Loss) For The Year |
Book Shop £ 56,736 34,463 2,010 20,263 28,215 2,640 660 37 509 1,287 393 492 1,050 12,684 1,144 19 49,130 (28,867) (622) |
Coffee Shop £ 184,648 78,362 (314) 106,600 |
Fizzy Lizard £ 169,842 40,576 364 128,902 |
2024 Total £ 411,226 153,401 2,060 255,765 |
2023 Total £ 354,613 140,977 1,116 212,520 |
|---|---|---|---|---|---|
| 91,266 (3,729) 882 - 498 835 5,984 807 1,050 13,034 3,399 2 |
89,378 2,325 151 191 2,771 512 2,618 1,145 1,050 12,684 4,853 203 |
208,859 1,236 1,693 228 3,778 2,634 8,994 2,444 3,150 38,403 9,396 224 |
207,735 4,685 1,963 328 2,595 2,892 11,386 1,120 3,439 15,675 7,112 235 |
||
| 114,028 (7,428) (3,380) |
117,881 11,021 (3,596) |
281,039 (25,274) (7,598) |
259,165 (46,645) (7,652) |
||
| (29,489) | (10,808) | 7,425 | (32,872) | (54,297) |
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HUDDERSFIELD CHRISTIAN FELLOWSHIP
PROMISED LAND DEVELOPMENTS LIMITED Revenue Account for the Year Ended 31 January 2024
| INCOME £ £ Rents Received - - EXPENDITURE Rent and Rates 77 Legal and Professional Fees 2,861 Audit and Accountancy Fees 3,300 Bank and Credit Charges 7,858 Bank Interest on Loan and Overdraft 121,718 Interest on Overdue Taxation 66 135,880 (Loss) Before Depreciation and profit on transfer of property (135,880) Less: Depreciation (77,647) Add : Profit on transfer of property 4,205,454 Profit For The Year 3,991,927 CATHEDRAL HOUSE CARE SERVICES LIMITED Revenue Account for the Year Ended 31 January 2024 £ £ INCOME Domicilary Care Fees and Cross chargable income 53,530 53,530 DIRECT COSTS Wages 73,979 Employers NIC 5,091 Employers Pension costs 1,326 Staff Uniform 252 Mileage Charges 254 80,902 ADMIN COSTS Cleaning 97 Insurance 2,182 Staff Training 1,835 Professional Fees 444 Audit and Accountancy Fees 4,337 Bank and Credit Charges 300 Bad and Doubtful Debts - Professional Subscriptions 2,417 Travelling Expenses 6 Sundry Expenses 26 Stationery 132 11,776 OTHER OPERATING INCOME Government grants 7,632 7,632 (Loss) Before Depreciation (31,516) Less: Depreciation (263) (Loss) For The Year (31,779) 2024 2024 |
£ £ - - 154 - 5,500 4,004 104,781 - 114,439 (114,439) (134,407) - (248,846) £ £ 52,228 52,228 87,726 6,478 1,612 119 387 96,322 191 2,199 150 458 3,330 239 19 - - - - 6,586 - - (50,680) (39) (50,719) 2023 2023 |
£ £ - - 154 - 5,500 4,004 104,781 - 114,439 (114,439) (134,407) - (248,846) £ £ 52,228 52,228 87,726 6,478 1,612 119 387 96,322 191 2,199 150 458 3,330 239 19 - - - - 6,586 - - (50,680) (39) (50,719) 2023 2023 |
|---|---|---|
| (50,719) |
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