THE CHRISTADELPHIAN HALL & BUILDINGS SOCIETY, BIRMINGHAM TRUSTEES, AND DIRECTORS, REPORT AND FINANCIAL STATEMENTS 31 DECEMBER 2024 (Registered Company Number: 00113912) {Registered Charity Number: 702637}
THE CHRISTADELPHIAN HALL & BUILDINGS SOCIETY, BIRMINGHAM 31 DECEMBER 2024 REFERENCE AND ADMINISTRATIVE INFORMATION Charity name The Christadelphian Hall & Buildings Society, Birmingham, also known as CHBS Charity registration number 702637 (England and Wales) Company reglstratlon number 00113912 (England and Wales) Registered and principal office 15 Church Close Dunston Stafford ST18 9AF Trustees and Dirertors A S Firth- Secretary D C Gouldingay-Treasurer S J Ashton M G Green S P Griffiths K H Rawlings J Thompson Bankers HSBC plc 130 New Street Birmingham B2 4JU Solicitors Shakespeare Martineau LLP I Colmore Square Birmingham B4 6AA Investment adviser Portcullis Financial Planning Limited Office 10 GreenBox Westonhall Road Stoke Prior Bromsgrove B60 4AL R C Brown Investment Management PLC l The Square Temple Quay, Temple Back E Redcliffe, Bristol BSI 6DG Independent examiner BK Plus Audit Limited Azzurri House Business Park Walsall Road Walsall WS9 ORB
THE CHRISTADELPHIAN HALL & BUILDINGS SOCIEfY, BIRMINGHAM 31 DECEMBER 2024 TRUSTEES, AND DIREcfoRS' REPORT The Directors have pleasure in presenting their annual report and the financial statements of The Christadelphian Hall & Buildings Society, Birmingham for the year ended 31 December 2024. All Directors of the Society are also Trustees for the purposes of charity law; accordingly, in this report and in the financial statements 'Trustees" means both Trustees and Directors. This report and the accompanying financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the Societws governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland, Charities SORP (FRS 102) (second edition). Structure, Governance and Management The Christadelphian Hall & Buildings Society, Birmingham is a company limited by shares with charitable status. It has a Board of seven Trustees who are responsible for the governance of the charity in accordance with the Charities Act 2011 and under the Societ¢s governing document, Articles of Association, prepared in accordance with the Companies Act 2006. The governing document was last amended on 15 February 2021. Trustees are typically elected for a three-year period by the Societ¢s members having regard to their professional skills and experience. When a vacanoi on the Board arises, nominations for a replacement may be made either by the other Trustees or by members for election at the next Annual General Meeting. By way of training, all Trustees are encouraged to read relevant available literature on charity law, practices and accounting including updates published by the Charity Commission on its website. New Trustees are additionally encouraged to attend Trustee meetings as observers before taking office. Relevant training courses are also encouraged and occasionally arranged in-house. Day to day running of the charity is delegated by the Trustees to the Secretary, Alistair Firth, who is assisted in overseeing the charitvs operations and finances by the Treasurer, David Gouldingay, and Simon Griffiths, who takes the lead in property acquisitions and disposals. Internal controls appropriate to the size of the charity are exercised, including division of duties {to the extent feasible) and an internal audit is undertaken annually by one of the Trustees. The principal risks to which the charity is exposed. as identified by the Trustees, have been reviewed and systems or procedures have been established to manage those risks. These risks are primarily financial risks arising from the management of the charitvs properties, loan book and treasury operations. The Trustees meet online at least four times a year and, between regular meetings, remain in regular email or telephone communication with the Secretary and Treasurer over new loan and grant applications and any other business arising. Objectives and Activities The objects of the charity are to promote and advance the religious work of the Christadelphian community for the public benefit, in particular through the provision or purchase of properties, and the lending (where legally permissible) or granting of funds, mainly towards the cost of purchasing, building or maintaining premises and land. in each case for the use of the Christadelphian community in providing access for the public to worship and Bible-based preaching and teaching. Grant support for the running costs of Christadelphian ecclesias may also be provided.
THE CHRISTADELPHIAN HALL & BUILDINGS SOCIETY, BIRMINGHAM 31 DECEMBER 2024 TRUSTEES, AND DIREcfoRS' REPORT- continued The Trustees review activities each year to ensure the charity remains focused upon delivering its stated objects for the public benefit. Public Benefit Com liance Statement In the exercise of their powers and duties for the Societ¢s charitable objectives the Trustees have reviewed and had regard to the Charity Commission general guidance on public benefit. The grants, concessionary loans and rent-free property provided by the charity continue to benefit the access of the general public, regardless of race, religion, gender, ethnic or social background, to the Bible-based worship, teachings and Christian love of the Christadelphian community throughout the UK and, to a lesser extent, overseas. These help to promote a fuller understanding of the human condition, relative to the eternal things of God, and senie to provide members of the public with direction, balance and purpose in todavs complex world. Achievements and Performance The way applications arise for financial support makes it difficult for the Trustees to set meaningful objettives against which performance can be measured. However, an annual budget is prepared and, as applications arise, the Trustees respond promptly other than where policy decisions arise which require the decision of a full meeting of the Trustees. The provision of this support helps to ensure that appropriate premises remain available for promoting and advancing the religious work of the Christadelphian community. During the year donations received included non-cash donations in kind of Christadelphian halls I (2023 - 5) and other properties Nil (2023 - 1} having total FRS102 gift values of £20,297 (2023 - £992,619}. Net gains on the sale of Nil {2023 3) vacated ecclesial halls realised further income of £Nil {2023- £171,000). No new loans were advanced to ecclesias in the year (2023 - £Nil}. Grants from unrestricted funds were made with a total value of £283,522 (2023 - £339,240). Grants from restricted funds in the year were made with a total value of £Nil (2023 - £286,085). Loan repayments received in the year amounted to £6,167 (2023 - £5,666). At the year end, the Society owned 11 (2023 - 10) fixed asset properties, let rent-free to their ecclesial occupiers under its charitable objects. The Society continues to be in discussion with a number of ecclesias expressing interest in gifting an ecclesial hall to the Society for nil consideration and then subsequently leasing back the hall, for continued ecclesial use, on a rent-free basis. Discussions are currently in progress with l (2023 l) ecclesia considering a possible property gift to the Society for resale. The interest of certain ecclesias in offering the Society property gifts is driven by two main factors: 11) a shortage of willing property holding trustees; and (2) ageing ecclesial membership which foresees ecclesial closure within the medium term and wishes to protect property proceeds from tax risks for the long-term benefit of the Christadelphian community. At 31 December 2024, 3 (2023 - 1) proposed property gifts were at a sufficiently advanced stage to warrant noting as a Contingent Assets in Note 18 to the Financial Statements. At the end of the year the charity had outstanding loans to Christadelphian ecclesias of £15,300 (2023 - £21,467).
THE CHRISTADELPHIAN HALL & BUILDINGS SOCIETY. BIRMINGHAM 31 DECEMBER 2024 TRUSTEES. AND DIREcfoRS' REPORT- continued Financial Review The charity receives voluntary income donations, including periodic legacies or other lump sums, together with investment income. During 2024 the charity received unrestricted donations {including property gifts) of £20,419 (2023 - £706,630). Restricted donations received in 2024 amounted to £Nil (2023 £286,085). The charity has no employees {2023 Nil) and no emoluments were paid to the Trustees during the year {2023- £Nil). Income and ex enditure Net expenditure for the year was £240,034 (2023 net income £381,762) and there were net realised and unrealised gains on investments of £62,174 (2023 £185,938). This included exceptional gains on sale of investment properties of £Nil (2023 £171,000). This resulted in a total reduction in unrestricted funds of £184,713 (2023 increase £561,185) and a total increase in restricted funds of £6,853 {2023- £6,515). The Society is prohibited by its Articles of Association from paying dividends. Transfers between reserves During the year there were no transfers from restricted income funds to unrestricted funds (2023 £Nil) upon reaching the date when donor restrictions ceased to apply. Transfers between the unrestricted general fund and the unrestricted revaluation reserve are set out in note 16 to the financial statements and amounted to £19,933 (2023 £178} to revaluation reserve. In the year £62,538 {2023 - £455,068) was also transferred to the unrestricted non-distributable resenie from unrestricted general fund in relation to property gifts received in the year. Reserves olic General reserves are required to fund: la) the charity's core loan-making activities, which may be up to £125,000 (2023 - £250,000). (b) up to three years, running costs of around £660,000 (2023 - £670,000) assuming annual grant payments of around £200,000 {2023 - £200,000); and (3) up to £250,000 (2023 - £250,000> to fund the prospective purchase of a hall for an ecclesia having many members or visitors who are asylum seekers or refugees with little or no income. Any reserve5 in excess of this level are applied to making further grants, which meet the grant-making criteria of the Charity Commission and the charity. at the earliest practicable date. Free reserves at the year-end comprised the general fund of £836,108 (2023 - £1,103,292), which are currently below the level of general reserves potentially required. Transfers from restricted income funds to unrestricted income funds are only made when the conditions imposed by the relevant donor have been met. Gains arising from property gifts in kind to the charity are transferred to the non-distributable reserve until realised. Revaluation gains on quoted investments are transferred to unrestricted revaluation reserve until realised. New property gifts in kind are valued in the accounts after deducting from current professional valuation net present value discounts relative to the estimated future dates on which values can be realised in cash. These gift values are then transferred from general fund to a non- distributable reserve until realised. Annual reductions in discount relative to future realisation dates are treated as revaluation gains in the general fund and then transferred to the non- distributable reserve. The amounts of restricted, unrestricted, revaluation and non-distributable reseries held at the end of the year are respectively set out in notes 15 and 16 to the financial statements.
THE CHRISTADELPHIAN HALL & BUILDINGS SOCIETY, BIRMINGHAM 31 DECEMBER 2024 TRUSTEES, AND DIREcfoRS' REPORT- continued Investment ro erties held for resale Investment properties periodically held for resale and are marketed for onward sale at the time, and in the manner, recommended by professional advisers. Investment olic and returns Investments are managed by the Trustees tn conjunction with Portcullis Financial Planning Ltd and by R C Brown Investment Management PLC, in the latter case on a discretionary basis within prescribed criteria. Investments are held in medium term balanced risk investments, for funds not required in the short term, and in fixed interest term deposits or interest-bearing instant access bank accounts, for other funds, so that approved new loans and grants can be paid promptly. Net assets At 31 December 2024, the Society held net assets of £2,418,844 (2023 - £2,596,704) available for appropriate ongoing charitable activities, subject to the donor restrictions set out in note 15 to the financial statements. The ear ahead Based on its financial forecasts the Trustees anticipate having sufficient financial resources to continue delivering the Societvs charitable objects, God willing. Fixed Assets: Programme Related Investments Programme related investments are carried in the financial statements at either the FRS102 value gifted or the amount paid less, in the case of concessionary loans, repayments received, and less any impairment arising. In the opinion of the Trustees no such impairment had arisen at 31 December 2024 (2023 - £Nil). Responsibilities of the Trustees Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company as at the balance sheet date and of its income and expenditure for the financial year. In preparing those financial statements, the Trustees should follow best practice and: select suitable accounting policies and then apply them consistently; make judgements and estimates that are reasonable and prudent; and prepare the financial statements on a going concern basis unless it is not appropriate to assume that the company will continue on that basis. The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
THE CHRISTADELPHIAN HALL & BUILDINGS SOCIETY, BIRMINGHAM 31 DECEMBER 2024 TRUSTEES, AND DIREcfoRS' REPORT- continued Trustees and their Share Interests The Trustees who held office during the year and their beneficial share interests (including family interests) at the end of the year were as follows: Non-voting directors, shares of £1 2024 Non-voting Ordinary directors, shares of share of £1 £1 2023 Ordinary shares of £1 2024 2023 S J Ashton ASFirth D C Gouldingay M G Green S P Griffiths K H Rawlings J Thompson 12 13 13 13 12 13 12 347 348 348 348 347 348 347 12 13 13 13 12 13 12 347 348 348 348 347 348 347 The companvs Articles of Association require each Trustee to own a minimum share qualification of 5 Ordinary shares of £1 each. None of the Trustee-owned shares have any dividend or capital entitlements so are of no economic value to their holders. Trustees and their Share Interests The Trustees approaching the conclusion of their three-year appointments under the Society's governing document are Mr K H Rawlings and Mr J Thompson who will offer themselves for re- election at the 2025 Annual General Meeting, God willing. Small company provisions This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies, regime. This report was approved by the Board on 16 June 2025 and signed on its behalf by: ASFirth Secretary
THE CHRISTADELPHIAN HALL & BUILDINGS SOCIETY, BIRMINGHAM 31 DECEMBER 2024 REPORT OF THE INDEPENDENT EXAMINERS TO THE TRUSTEES OF THE CHRISTADELPHIAN HALL & BUILDINGS SOCIEfY, BIRMINGHAM We report on the Charity's accounts for the year ended 31 December 2024 which are set out on pages 9 to 21. Respertive responsibilities of Trustees and examiner The Trustees are responsible for the preparation of the accounts. The Trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 {the Charities Act) and that an independent examination is needed. Having been satisfied that the Charity is not subject to an audit under Charity law and is eligible for Independent Examination, it is our responsibility to: examine the accounts (under section 145 of the Charities Act): to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)Ibl of the 2011 Act). and to state whether particular matters have come to our attention. Basis of Independent Examiners Report Our examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Charity and comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a true and fair view and the report is limited to those matters set out in the statement below. Independent Examiners Statement In connection with our examination, no matter has come to our attention: (11 which gives us reasonable cause to believe that in any material respect the requirements to keep accounting records in accordance with section 130 of the 2011 Act; and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act," have not been met. or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination. (2} to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Azzurri House Business Park Walsall Rd WS9 ORB For and on behalf of BK Plus Keval Dattani 16106 ItsL Chartered Accountants
THE CHRISTADELPHIAN HALL & BUILDINGS SOCIETY, BIRMINGHAM 31 DECEMBER 2024 STATEMENT OF FINANCIAL ACTIVITIES including Income and Expenditure Account for the year ended 31 December 2024 Unrestricted Restricted fund5 funds Total 2024 Unrestricted Restricted funds funds Total 2023 Note Income from: Donations and legacie5 Charitable activities.. Insurance recharges receivable Investments- Bank interest receivable Dividend5 and other bonuses receivable Rent receivable 20.419 20.419 706,630 286.085 992,715 9,278 9,278 9,678 9,678 14,091 6,853 20.944 12.152 6.515 18,667 7.502 5,420 7.502 5,420 6.828 3,170 6.828 3,170 Total income 56.710 6.853 63,563 738,458 292,600 1,031,058 Expenditure on: Cost of raising funds Investment manager5 fees Charitable activities: Grants payable Insurance payable Support costs 2.955 2.955 1,859 1,859 283,522 10,448 6.672 283,522 10.448 6.672 339,240 11.788 10.324 286,085 625.325 11,788 10,324 Total expenditure 303,597 303,597 363,211 286,085 649.296 Net (expendlture)/lncome before investment gains 1246.887) 6,853 {240.0341 375.247 6.515 381,762 Net gains on investments 62.174 62.174 185,938 185,938 Net lexpenditure}/income and net movement in funds {184,713) 6,853 1177,8601 561.185 6.515 567,700 Release of restricted funds to unrestricted funds Reconciliation of funds: Total funds brought forward 2,426,624 166,080 2,592,704 1,865,439 159,565 2.025,004 Total funds carried forw3rd 2.241.911 172,933 2.414.844 2.426.624 166,080 2,592,704 The statement of financial activities is not materially different from the income and expenditure account required by the Companies Act 2006. accordingly, no separate income and expenditure account is presented. There are no recognised gains and losses for the current or prior financial years other than as stated above. Accordingly, no statement of total recognised gains and losses has been prepared. All of the activities of the company are continuing.
THE CHRISTADELPHIAN HALL & BUILDINGS SOCIETY, BIRMINGHAM 31 DECEMBER 2024 Company Registration Number: 00113912 BALANCE SHEET at 31 December 2024 Note 2024 2023 FIXED ASSETS Programme related Investments: Land and buildings Loans Investments: Investment property Quoted Bank term deposits 1,344,534 15,3CK) 1,273,508 21,467 122,345 346,580 185,000 2,013,759 118,781 322,101 255,000 1,990,857 10 CURRENT ASSErs Debtors Investments- bank term deposits Cash at bank 11 12 28,358 172,975 205,972 407,305 2,220 14,658 595,704 610,362 4,515 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 13 NET CURRENT ASSETS 405,085 605,847 TOTAL ASSETS LESS CURRENT LIABIUTIES 2.418.844 2,596,704 THE FUNDS OF THE CHARITY Called up share capital Accumulated income funds: Restricted funds Unrestricted funds: General fund Revaluation reserve Non-distributable resenie Total unrestricted funds 14 4,000 4,000 15 172,933 166,080 16 16 16 836,108 52,868 1,352,935 2,241,911 1,103,292 32,935 1,290,397 2,426,624 TOTAL CHARITABLE FUNDS 2,418,844 2,596,704 Audit Exemption Statement The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024. The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006. 10
THE CHRISTADELPHIAN HALL & BUILDINGS SOCIEfY, BIRMINGHAM 31 DECEMBER 2024 BALANCE SHEEr At 31 December 2024- continued The Trustees acknowledge their responsibilities for: {1> ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006; and (2) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. These financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 applicable to companies subject to the small companies, regime. The financial statements were approved by the Board of Trustees on 16 June 2025 and were signed on its behalf by: D C Gouldingay Director 11
THE CHRISTADELPHIAN HALL & BUILDINGS SOCIETY, BIRMINGHAM 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 ACCOUNTING POLICIES Legal Status of the Charity The Christadelphian Hall & Buildings Society, Birmingham is a company limited by shares registered in England and Wales and a charity registered with the Charity Commission in England and Wales. Basis of Preparation These financial statements have been prepared in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland, Charities SORP (FRS102) {second edition - October 2019). The detailed accounting policies in use are described below: The charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. Management judgements about the net present value of certain property gifts in kind may significantly affect gift values recognised in the financial statements- see Gifts in kind below. The charity maintains financial forecasts which indicate that it will have sufficient resources to meet its liabilities as they fall due and, on that basis, the Trustees are satisfied it is appropriate to prepare the financial statements on a going concern basis. Recognition of Income All income is included in the Statement of Financial Activities when the charity is legally entitled to the income, its receipt is probable and the amount can be measured reliably. Investment income receivable is allocated between restricted and unrestricted funds by reference to the individual income-producing assets which make up those funds. Gifts in kind Fixed and current assets donated for use by the charity are recognised as income at their current value when receivable. The external valuations of some gifts are discounted to net present value relative to future dates, either 5 or 25 years ahead, when management estimates that realisation will take place. Investment properties held for onward sale are stated at independently advised selling prices less estimated acquisition costs and estimated disposal costs still to be incurred. Unrealised gains on fixed and current assets are transferred to a non-distributable reserve until realisation takes place. The charitvs balance sheet includes certain freehold land and buildings which were valued at their cost to the charity prior to the adoption of the present accounting policy. Their value has not been restated as the Trustees consider that the cost of ascertaining their values, when gifted long ago, is not justified by the additional benefit such information would provide to users of the financial statements. Recognition of Expenditure Expenditure is included in the Statement of Financial Activities on an accruals basis when, and to the extent that, a liability, legal or constructive, is incurred and can be reliably measured. 12
THE CHRISTADELPHIAN HALL & BUILDINGS SOCIETY, BIRMINGHAM 31 DECEMBER 2024 NOTESTO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 ACCOUNTING POUCIES- continued Recognition of Expenditure- continued A constructive liability for a grant is considered to have been incurred when a grant offer has been issued to the recipient ecclesia and all grant conditions have been satisfied. Fixed Assets Investments: Programme Related Investments Programme related investments are made to further the objects of the charity and not for financial return. They comprise freehold properties held by the charity, let rent-free to an occupying Christadelphian ecclesia as part of the chariws primary work, and concessionary loans to Christadelphian ecclesias for the acquisition, repair or improvement of premises and land for use by the Christadelphian community. Concessionary loans are unsecured and interest-free and are repayable within a 12 year period from inception. Programme related investments are measured in the balance sheet at the amount paid or FR5102 value gifted less, in the case of concessionary loans, repayments received, and less any impairment arising. Investments Investment properties held for onward sale are stated at their net realisable value on the balance sheet. Where these properties derive from gifts in kind, unrealised gains are transferred to a non-distributable resenie. Investment properties held for income, pending eventual sale of a connected programme related investment property, are measured in the balance sheet at the amount paid or FRS102 value gifted less any impairment arising. Investments in quoted assets are stated at their fair value on the balance sheet date. Gains or losses on revaluation and investment assets disposals are shown in the Statement of Financial Activities. Unrealised gasns are transferred to the revaluation reserve. Long term investments are classified as fixed assets. Short term investments are classified as current assets. Fund Accounting Funds which may be used in accordance with the chariws objects, at the discretion of the Trustees, are held in unrestricted income funds. Restricted funds may only be used for the purpose specified by the donor within the objects of the charity. Cash at Bank Cash at bank includes instant access deposit accounts and, unle55 shown separately on the balance sheet, term deposits maturing within 12 months of the balance sheet date. Creditor5 and Provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount required to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally reco8nised at their settlement amounts after allowing for any trade discounts due. 13
THE CHRISTADELPHIAN HALL & BUILDINGS SOCIETY, BIRMINGHAM 31 DECEMBER 2024 NOTESTO THE FINANCIALSTATEMENTS for the year ended 31 December 2024 ACCOUNTING POUCIES- continued Financial Instruments The charitvs financial assets and liabilities all qualify as basic financial instruments. DONATIONS AND LEGACIES Unrestricted Restritted funds funds Total 2024 Unrestricted Restricted funds funds Total 2023 These arose from the following sources: Portsmouth Ecclesia - hall gift for resale on closure Macclesfield Ecclesia - hall gift for leaseback at nominal rent West Leeds Ecclesia- hall gift for resale on closure Northampton Ecclesia- hall gift for resale on closure Shipley Ecclesia- hall gift for leaseback at nominal rent Macclesfield Ecclesia- house gift for letting Betws Ecclesia - hall gift for leaseback at nominal rent Total under £10,000 106.060 106,060 212,120 178,007 178,007 170,744 170.744 io,orJ) 180.025 190,025 132,492 132.492 109.231 109,231 20,297 20.297 122 122 96 96 20,419 20,419 706,630 286,085 992,715 14
THE CHRISTADELPHIAN HALL & BUILDINGS SOCIETY, BIRMINGHAM 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 CHARITABLE AcfiviTIES - GRANT5 PAYABLE Unrestricted Restricted funds funds Total 2024 Unrestrirted Restricted funds funds Total 2023 Grants to institutions within charitable objects comprised: Exceptional grants to other Christadelphian charities (see note 151 Llanelli Eccle5ia Asia-Pacific Christadelphian Bible Mission Porthleven Ecclesia Crewe Ecclesia Christadelphian Bible Mission overseas ecclesias (Africa) Clevedon Ecclesia Sale Ecclesia Kings Norton Ecclesia Plymouth Ecclesia Mountain Ash Ecclesia Spalding Ecclesia Sutton Coldfield Ecclesia Bracknell Ecclesia Newark Ecclesia Ormskirk Ecclesia Milnsbridge Ecclesia Redditch Ecclesia Christadelphian ALS Under £IO.¢xiO 286,085 286.085 57,800 11.500 11,5LKI 57,800 9,949 9,949 45,601 37,000 45,601 37,000 33,579 33,579 30,995 30,995 33,899 33.310 28,000 33,899 33,310 28.000 27.657 26,000 24.990 27.657 26,0 24,990 23,984 23.940 23.984 23,940 22,982 18,960 14,(M)O 13.512 22,982 18,960 14.( 13.512 12,480 10,000 33.226 12,480 10,000 33,226 49.398 49.398 283,522 283,522 339,240 286,085 625,325 SUPPORT COSTS 2024 2023 Independent examination {2023 audit} fees Legal and professional expenses Trustee indemnity and personal accident insurance Utility and repair costs on investment properties Trustee expenses Miscellaneous expenses 1,905 4,215 3,676 1,403 481 298 251 1,956 2,307 140 364 6,672 10,324 15
THE CHRISTADELPHIAN HALL & BUILDINGS SOCIETY, BIRMINGHAM 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 TRUSTEES. DIREcfoRS AND EMPLOYEES The company has no employees. All members of the board act in an unpaid capacity so none of the Trustees and Directors received any remuneration for the year {2023 - Nil). No expenses were claimed by any Trustee with the exception of secretarial expenses andlor travelling expenses incurred by and reimbursed or accrued for reimbursement to D C Gouldingay £140 (2023 - £298). FIXED ASSETS INVESTMENTS- PROGRAMME RELATED INVESTMENTS: LAND AND BUILDINGS Programme related investments: land and buildings comprise the following freehold properties let at peppercorn rents to occupying ecclesias. 2024 2023 Cost or valuation At l January Additions: Donations in the year at Day I net present value Acquisition costs Net present value revaluations since acquisition 1,273,508 908,396 20,297 12,051 38,678 310,499 21,605 33,008 At 31 December 1,344,534 1,273,508 Impairment At l January and 31 December Net book value At 31 December 1,344,534 1,273,508 The occupying ecclesias and net book values at 31 December were: Barnet Ecclesia Bath Ecclesia Macclesfield Ecclesia Shipley Ecclesia Shrewsbury Ecclesia Betws Ecclesia Ellwood Ecclesia Bournville Ecclesia Old Trafford Ecclesia East Ham Ecclesia Kings Heath Ecclesia 608,758 244,289 199,376 148,799 76,574 32,995 27,935 2,232 2,290 1,286 591,028 237,174 193,569 144,465 74,343 27,121 2,232 2,290 1,286 Net book value at 31 December 1,344,534 1,273,508 Freehold buildings are insured by the charity, the relevant proportion of the premium being recharged at cost to each occupying ecclesia. 16
THE CHRISTADELPHIAN HALL & BUILDINGS SOCIETY, BIRMINGHAM 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 FIXED ASSETS INVESTMENTS- PROGRAMME RELATED INVESTMENTS: CONCESSIONARY LOANS Programme related investments: concessionary loans comprise advances made to ecclesias for the acquisition, repair or improvement of premises and land for use by the Christadelphian community. Loans are unsecured and interest-free and repayable within a period of up to twelve years from inception. Movements in the year were as follows: 2024 2023 Loans at l January New loans advanced 21,467 27,133 21,467 27,133 Les5: New or existing loans repaid 6,167 5,666 Loans at 31 December 15,300 21,467 Outstanding loans at year end: Birmingham, Kings Heath Ecclesia Manchester, Old Trafford Ecclesia Barton-under-Needwood Ecclesia 11,700 3,600 13,500 5,467 2,500 15,3CMJ 21,467 £3,667 (2023 - £5,667) is due for repayment within 12 months of the balance sheet date. At 31 December 2024 the charity had committed Nil (2023 - Nil) to new ecclesial loan advances, subject to contract, and accordingly not taken up at the reporting date. FIXED ASSEfs INVESTMENT PROPERTY 2024 2023 Cost or valuation At l January Additions: Donations in the year at Day I net present value - Acquisition costs Net present value revaluations since acquisition 118,781 109,231 7,221 2,329 3,564 At 31 December 122,345 118,781 Impairnient At l January and 31 December Net book value At 31 December 122,345 118,781 17
THE CHRISTADELPHIAN HALL & BUILDINGS SOCIETY, BIRMINGHAM 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 FIXED ASSET INVESTMENTS: QUOTED INVESTMENTS 2024 2023 Market value at start of year Acquisitions at cost Disposal proceeds Realised gains/(losses) Unrealised {losses)/ gain5 Market value at end of year 322,101 7,501 (2,955) 187,632 156,836 (1,968) 19,933 346,580 120,3991 322,101 Historic cost of investments held at year end 315,235 310,688 The investment portfolio comprises: Discretionary fund manager Equity income funds Managed growth bonds Property bonds 167,754 87,083 66,828 24,915 346,580 156,620 76,622 63,944 24,915 322,101 10. FIXED ASSET INVESTMENTS: BANK TERM DEPOSITS Maturing in January 2025 Maturing in February 2025 Maturing in February 2026 Maturing in April 2026 85,000 85,000 85,000 85,000 100,000 185,000 255,000 11. DEBTORS Prepaid acquisition costs- investments Accrued income - interest on deposits Rent 16,147 11.761 450 28,358 5,981 8,677 14,658 12. CURRENT ASSEf INVESTMENTS: BANK TERM DEPOSITS Maturing in January 2025 Maturing in February 2025 85.000 87,975 172,975 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 2,220 4,515 18
THE CHRISTADELPHIAN HALL & BUILDINGS SOCIETY, BIRMINGHAM 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 14. SHARE CAPITAL Authorised. called up, allotted and fully paid: 1,567 Ordinary shares of £1 each 2,433 Non-voting directors, shares of £1 each 1,567 2,433 4,000 1,567 2,433 4,000 None of the shares are dividend-bearing. 15. RESTRicfED FUNDS The income funds of the charity include restricted funds comprising the following unexpended balances of donations and legacies held on trust for specific purposes: Movement in funds Income Expenditure Transfers Opening balance Closing balance Donations from former ecclesias- Tenby Anonymous legacy 99,647 66,433 4,112 2.741 103,759 69,174 166,080 6,853 172,933 The restricted donations received in 2023 from Northampton and Portsmouth Ecclesias were paid to the following donor-specified Christadelphian organisations= Northampton Portsmouth Total Christadelphian Care Homes Christadelphian Bible Mission IPortsmoLrth, including £15.909 welfare) Christadelphian Meal a Day Fund Christadelphian Benevolent Fund Christadelphian Auxiliary Lerturing Society Christadelphian Isolation League Christadelphian Samaritan Fund Other donations under £7,500 each 56,708 23,403 14,402 31,504 21,603 17.102 26,515 21,212 26.515 5.303 10,606 5,303 10,606 83,223 44,615 40,917 36,807 32,209 22,405 10,606 15,303 15,303 Total 180,025 106.060 286,085 The restricted donation from the former Tenby Ecclesia is conditional upon a grant of up to £90,000 (plus net income} being made available by the charity, within its objects, towards the property needs of any recognised new Christadelphian ecclesia that may in future be established in a donor-prescribed area on or before 30 April 2029. Should such grant be required £20,000 would be payable after 60 days, a further £20,000 after 6 months and the balance of £50,000 {plus any net income) after 2 years. With effect from l May 2029 any unused funds will be transferable to unrestrirted income funds. The restricted anonymous legacy is conditional upon a grant of up to £60,000 (plus net income) being made available by the charity, within its objects, towards the property needs of any recognised Christadelphian ecclesia that may in future be established in an estate- prescribed area on or before 31 March 2025. Should such grant be required £20,000 would be payable after 60 days, a further £20,000 after 6 months and the balance of £20,000 (plus any net income) after 2 years. With effect from l April 2025 any unused funds will be transferable to unrestricted income funds. 19
THE CHRISTADELPHIAN HALL & BUILDINGS SOCIETY, BIRMINGHAM 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 16. UNRESTRICTED FUNDS Opening balance Gains and losses Closing balance 31 December 2024 Income Expenditure Transfers General fund Revaluation reserve Non-distributable 1,103.292 32,935 56,710 1303.5971 62,174 {82,4711 19.933 836,108 52.868 reserve 1,290,397 62.538 1,352,935 2.426.624 56,710 {303,5971 62,174 2,241,941 Opening balance Gains and losses Closing balance 31 December 2023 Income Expenditure Transfers General fund Revaluation reserve Non-distributable reserve 997,353 32.757 738.458 1363.211) 185.938 1455.2461 178 1.103,292 32,935 835.329 455.068 1.290.397 1,865,439 738.458 {363.2111 185,938 2,426.624 The revaluation reserve comprises unrealised gains on the charit¢s fixed assets investments portfolio. The non-distributable reserve comprises unrealised gains on certain of the charit¢s investment properties. 17. ANALYSIS OF NEf ASSEfs BETWEEN FUNDS Restricted Funds General Funds Total At 31 December 2024." Fixed assets: programme related investments Fixed assets: investments Current assets Creditors: amounts falling due within one year 1,359,834 1,359,834 653,925 653,925 234,372 407,305 (2,220) {2,2201 172,933 Total net assets 172,933 2.245,911 2,418,844 At 31 December 2023." Fixed assets: programme related investments Fixed assets: investments Current assets Creditors: amounts falling due within one year 1,294,975 1,294,975 695,882 695,882 444,282 610,362 (4,515) 14,515) 166,080 Total net assets 166,080 2,430,624 2,596,704 20
THE CHRISTADELPHIAN HALL & BUILDINGS SOCIETY, BIRMINGHAM 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 18. CONTINGENT ASSErs Fixed assets- ro ramme related investments: land and buildin At 31 December 2024 the charity had been advised of 3 (2023 - 1) proposals to gift properties to the Society with a view either to leasing them back forthwith from the charity at peppercorn rents or for the charity to hold or resell. Whilst these hall gifts seem probable and the charity can measure the value of 2 {2023 -11 of the 3 (2023 - 1) with reasonable accuracy, at 31 December 2024 aspects of legal and other due diligence were still to be completed so legal entitlement had not passed. Accordingly, these proposed gifts and leasebacks cannot be included in the Societvs 2024 income or assets. At the balance sheet date, the Trustees estimate the accounting value of those gifts that can presently be quantified as £225,000 (2023 - £19,000). 19. CONTINGENT LIABILITIES At 31 December 2024 the charity had issued not issued any {2023 - Nil) offers of grant funding to an ecclesia where the satisfaction of remaining conditions for the payment of loans and grants lay outside the actions of the charity. Accordingly, contingent liabilities of £Nil (2023 - Nil) were outstanding at the balance sheet date. 20. TAXATION The company is a registered charity and as such is exempt from tax on income and gains arising from activities within its charitable objects. No tax charges have arisen in the charity. 21. RELATED PARTY TRANSAcfioNS There were no related party transactions (2023- Nil). 21