**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 Page 1 ## **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: - 1. 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. 2. 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:- - 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. - b) The unity of the Father, the Son and the Holy Spirit in the Godhead. - c) The universal sinfulness and guilt of human nature since the fall rendering man subject to God’s wrath and condemnation. - 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. - e) The resurrection of Jesus Christ from the dead. - 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. - g) The indwelling and work of the Holy Spirit in the believer. - h) The expectation of the personal return of the Lord Jesus Christ. 3. 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: 1. The continued development of the Fellowship’s Youth programme. 2. The expansion of relationships with churches nationally and internationally. 3. The continued financial support of both individuals and religious organisations. 4. 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. Page 2 ## **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. Page 3 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: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgments and accounting estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material 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 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. Page 5 ## **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: - 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 - have been properly prepared in accordance with United Kingdom General Accepted Accounting Practice. - 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: - the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or - 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: - the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or - sufficient accounting records have not been kept; or - the financial statements are not in agreement with the accounting records; or - we have not received all the information and explanation we require for our audit. Page 6 ## **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: - 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; - we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and - 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: - making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; - considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations and. - performed analytical procedures to identify any unusual or unexpected relationships. To address the risk of fraud through management bias and override of controls, we: - tested journal entries to identify unusual transactions; - assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias and; - investigated the rationale behind significant or unusual transactions. Page 7 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 reqUI￿d 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 v￿rk, 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**| Page 9 ## **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**| Page 10 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: **----- Start of picture text -----**
S Gladstone
**----- End of picture text -----**
Page 12 ## **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**| Page 13 ## **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**| Page 14 ## **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. Page 15 ## **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)**| Page 27 ## **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)**| Page 28