Charity Registration No. 800752
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BANBURY EVANGELICAL FREE CHURCH
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31 MARCH 2024
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Contents:
Page 1 - 2 Trustees’ Report Page 3 Independent Examiner’s Report Page 4 Receipts and Payments Account Page 5 Statement of Assets and Liabilities
Page 1
BANBURY EVANGELICAL FREE CHURCH
TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024
The trustees have pleasure in presenting their report and the Financial Statements of the Church for the year ended 31 March 2024.
Reference and Administrative Details
The Church is a Registered Charity no. 800752. The address is: Banbury Evangelical Free Church, c/o Mr D Umpleby, 98 Oxford Road, Bodicote, Banbury, OX15 4AE.
The charity trustees for the purpose of these accounts comprise the Elders & Deacons of the Church. The Elders & Deacons during the year were as follows:
Pastor D C S Cooke Mr D P Neal Mr A Johns Mr D A Umpleby Mr D N MacIver Dr M P Wareing
Structure, Governance and Management
The Church is constituted as an independent church, and the governing document is a Trust Deed. The Elders and Deacons are elected by the Church Meeting.
The Elders meet regularly to discuss pastoral matters, and they meet monthly with the Deacons to co-ordinate practical matters. Reasonable steps have been taken to ensure the prevention and detection of fraud and other irregularities and to provide reasonable assurance that:
-
The Church is operating efficiently and effectively;
-
Assets are safeguarded against unauthorised use or disposition;
-
Proper records are maintained and financial information is reliable;
-
The Church complies with relevant laws and regulations;
-
The systems of control are designed to provide reasonable, but not absolute, assurance against material misstatement or loss. These include:
-
(a) Monthly consideration by the Trustees of the financial position;
-
(b) Delegation of authority and segregation of duties;
-
(c) Identification and management of risks.
Objectives and Activities
The Church’s aims are to spread the gospel of the Lord Jesus Christ and to edify the congregation through the preaching and teaching of God’s Word, and the circulation of good Christian literature.
Achievements and Performance
Regular church services continued throughout the year, with steady congregations at both morning and evening services. A creche and junior church are provided for young children; these take place during the sermon.
Page 2
BANBURY EVANGELICAL FREE CHURCH
TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024 (Cont.)
Achievements and Performance (cont.)
We continued to operate a monthly book stall on Banbury Market, and monthly open-air preaching, as well as regular leafleting of homes across the town. In August we were able once again to have an Outreach Week of concerted evangelism, which enabled more people to hear the gospel. This resulted in some very fruitful conversations.
The church continued to hold a monthly service in the Larkrise care home, and began to hold monthly meetings at a second home, Glebefields. We continued to put on occasional coffee mornings throughout the year for the benefit of the community, at which a short Christian message is given. The monthly children’s club for children from 4 years old and upwards has been very encouraging, with church children and an increasing number of non-church children attending. The separate ladies’ and men’s meetings also continued on a monthly basis.
The church continues to support a number of Mission organisations and individual missionaries, and deputation meetings are held from time to time from these Missions to increase the awareness of the congregation of the gospel work going on in other places. As part of his work, the pastor visited churches and numerous individuals in Sri Lanka in the year.
Public Benefit
In carrying out its activities in the year under review, the trustees have had regard to the public benefit guidance issued by the Charity Commission, and are satisfied that the activities mentioned above have all been for the public benefit.
Financial Review
Funds were used to pay the Pastor’s salary, to pay the rent for the buildings the Church uses for meetings, to provide premises for the use of the pastor, to support Missionary organisations, to provide literature and to fund various outreach activities.
There is a significant long-term reserve for the acquisition of a church building at some time in the future. All unrestricted funds above £40,000 are designated to the Building Fund (this is in addition to restricted fund monies given specifically for this purpose). Church funds are invested at low risk and yield a modest return.
As shown in the Receipts and Payments account on page 4, there were net receipts of approximately £17,200 spread across the funds (2023: £12,600). Overall, the state of affairs of the Church is considered to be satisfactory. The Trustees regularly review the reserves of the Church, to ensure that sufficient liquid funds are available to meet ongoing obligations.
On behalf of the Elders & Deacons
Trustee Date: 22 October 2024
Page 4
BANBURY EVANGELICAL FREE CHURCH
RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024
| Receipts Voluntary income Charitable Activities Investment income Total receipts Payments Cost of Generating Funds Charitable Activities Governance Costs Asset purchases Total payments Net receipts Transfer between funds Cash Funds brought forward Cash Funds carried forward |
Unrestricted Restricted 2024 Funds Funds Total £ £ £ 69,379 13,456 82,835 137 - 137 7,586 - 7,586 77,102 13,456 90,558 654 - 654 62,933 7,920 70,853 340 - 340 63,927 7,920 71,847 1,525 - 1,525 65,452 7,920 73,372 11,650 5,536 17,186 (1,060) 1,060 - 234,296 88,602 322,898 244,886 95,198 340,084 |
2023 Total £ 77,272 208 4,932 82,412 190 69,439 - 69,629 188 69,817 12,595 - 310,303 322,898 |
|---|---|---|
Page 5
BANBURY EVANGELICAL FREE CHURCH
STATEMENT OF ASSETS AND LIABILITIES AS AT 31 MARCH 2024
| Unrestricted | Restricted | 2024 | 2023 | |
|---|---|---|---|---|
| Funds | Funds | Total | Total | |
| £ | £ | £ | £ | |
| Assets | ||||
| Cash Funds | ||||
| Shawbrook Bank | - | - | - | 78,507 |
| Redwood Bank | 77,191 | 7,808 | 84,999 | - |
| Virgin Money | - | 87,390 | 87,390 | 85,112 |
| HSBC | 50,729 | - | 50,729 | 43,808 |
| Hampshire Trust Bank | 41,965 | - | 41,965 | 40,467 |
| PayPal | 1 | - | 1 | 4 |
| 169,886 | 95,198 | 265,084 | 247,898 | |
| Investment Assets | ||||
| COIF Charities Property Fund (Cost) | 75,000 244,886 |
- 95,198 |
75,000 340,084 |
75,000 322,898 |
Assets retained for charity's own use
Cost Current Value Equipment 998 - Electronic/ computer equipment 2,796 Liabilities - - - Due within one year
Approved on 22 October 2024:
Trustee
Page 6
BANBURY EVANGELICAL FREE CHURCH
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
1. Accounting Policies
The following accounting policies have been used consistently in dealing with items which are considered material in relation to the Church's Financial Statements.
(a) Accounting Convention.
The Financial Statements are prepared under the Historical Cost Convention. Because the Church's income is under £250,000 the accounts are now prepared on a Receipts and Payments basis, to avoid the need to comply with the Charities SORP (FRS102).
(b) Income.
Donations represent cash received during the year, including tax repayments received. Charitable Activities Income comprises the sale of Christian books and other materials. Investment income comprises interest received from money in deposit accounts.
(c) Expenditure
The cost of generating funds are costs incurred in promoting the Church and its work. Charitable Activities Expenditure comprises all expenditure directly related to the Church's objects.
2. Employee information
The average number of persons employed during the year was 2 (2023: 2). No employee received remuneration in excess of £60,000 p.a. No trustee received any remuneration or expenses, apart from Mr David Cooke for his work as pastor of the church.
3. Funds Analysis
Unrestricted Funds
| Unrestricted Funds | |
|---|---|
| General Fund Mission Fund Building Fund Restricted Funds |
Brought forward Received Paid Transfers Carried forward 40,000 67,727 (57,052) (10,675) 40,000 916 9,375 (8,400) - 1,891 193,380 - - 9,615 202,995 234,296 77,102 (65,452) (1,060) 244,886 84,287 8,066 - - 92,353 4,315 - (1,470) - 2,845 - 1,590 (1,947) 357 - - 3,800 (4,503) 703 - 88,602 13,456 (7,920) 1,060 95,198 322,898 90,558 (73,372) - 340,084 |
| Building Fund Benevolent Fund Sri Lanka Fund Albania Fund Total |
Charity Registration No. 800752
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BANBURY EVANGELICAL FREE CHURCH
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31 MARCH 2024
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Contents:
Page 1 - 2 Trustees’ Report Page 3 Independent Examiner’s Report Page 4 Receipts and Payments Account Page 5 Statement of Assets and Liabilities
Page 1
BANBURY EVANGELICAL FREE CHURCH
TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024
The trustees have pleasure in presenting their report and the Financial Statements of the Church for the year ended 31 March 2024.
Reference and Administrative Details
The Church is a Registered Charity no. 800752. The address is: Banbury Evangelical Free Church, c/o Mr D Umpleby, 98 Oxford Road, Bodicote, Banbury, OX15 4AE.
The charity trustees for the purpose of these accounts comprise the Elders & Deacons of the Church. The Elders & Deacons during the year were as follows:
Pastor D C S Cooke Mr D P Neal Mr A Johns Mr D A Umpleby Mr D N MacIver Dr M P Wareing
Structure, Governance and Management
The Church is constituted as an independent church, and the governing document is a Trust Deed. The Elders and Deacons are elected by the Church Meeting.
The Elders meet regularly to discuss pastoral matters, and they meet monthly with the Deacons to co-ordinate practical matters. Reasonable steps have been taken to ensure the prevention and detection of fraud and other irregularities and to provide reasonable assurance that:
-
The Church is operating efficiently and effectively;
-
Assets are safeguarded against unauthorised use or disposition;
-
Proper records are maintained and financial information is reliable;
-
The Church complies with relevant laws and regulations;
-
The systems of control are designed to provide reasonable, but not absolute, assurance against material misstatement or loss. These include:
-
(a) Monthly consideration by the Trustees of the financial position;
-
(b) Delegation of authority and segregation of duties;
-
(c) Identification and management of risks.
Objectives and Activities
The Church’s aims are to spread the gospel of the Lord Jesus Christ and to edify the congregation through the preaching and teaching of God’s Word, and the circulation of good Christian literature.
Achievements and Performance
Regular church services continued throughout the year, with steady congregations at both morning and evening services. A creche and junior church are provided for young children; these take place during the sermon.
Page 2
BANBURY EVANGELICAL FREE CHURCH
TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024 (Cont.)
Achievements and Performance (cont.)
We continued to operate a monthly book stall on Banbury Market, and monthly open-air preaching, as well as regular leafleting of homes across the town. In August we were able once again to have an Outreach Week of concerted evangelism, which enabled more people to hear the gospel. This resulted in some very fruitful conversations.
The church continued to hold a monthly service in the Larkrise care home, and began to hold monthly meetings at a second home, Glebefields. We continued to put on occasional coffee mornings throughout the year for the benefit of the community, at which a short Christian message is given. The monthly children’s club for children from 4 years old and upwards has been very encouraging, with church children and an increasing number of non-church children attending. The separate ladies’ and men’s meetings also continued on a monthly basis.
The church continues to support a number of Mission organisations and individual missionaries, and deputation meetings are held from time to time from these Missions to increase the awareness of the congregation of the gospel work going on in other places. As part of his work, the pastor visited churches and numerous individuals in Sri Lanka in the year.
Public Benefit
In carrying out its activities in the year under review, the trustees have had regard to the public benefit guidance issued by the Charity Commission, and are satisfied that the activities mentioned above have all been for the public benefit.
Financial Review
Funds were used to pay the Pastor’s salary, to pay the rent for the buildings the Church uses for meetings, to provide premises for the use of the pastor, to support Missionary organisations, to provide literature and to fund various outreach activities.
There is a significant long-term reserve for the acquisition of a church building at some time in the future. All unrestricted funds above £40,000 are designated to the Building Fund (this is in addition to restricted fund monies given specifically for this purpose). Church funds are invested at low risk and yield a modest return.
As shown in the Receipts and Payments account on page 4, there were net receipts of approximately £17,200 spread across the funds (2023: £12,600). Overall, the state of affairs of the Church is considered to be satisfactory. The Trustees regularly review the reserves of the Church, to ensure that sufficient liquid funds are available to meet ongoing obligations.
On behalf of the Elders & Deacons
Trustee Date: 22 October 2024