Registered number: 11243931
Charity number: Waiting registration
SNOWBALL CHURCH LONDON LIMITED
(A company limited by guarantee)
UNAUDITED
TRUSTEE'S REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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SNOWBALL CHURCH LONDON LIMITED
(A company limited by guarantee)
CONTENTS
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Reference and administrative details of the Company, its Trustees and advisers
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Independent examiner's report
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Statement of financial activities
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Notes to the financial statements
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SNOWBALL CHURCH LONDON LIMITED
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2024
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Phil Turner (appointed 9 March 2018)
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Company registered number
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Charity registered number
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28 Harrow Way
Maidstone
Kent
ME14 5TU
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SNOWBALL CHURCH LONDON LIMITED
(A company limited by guarantee)
TRUSTEE'S REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The Trustee present their annual report together with the financial statements of the Company for the 1 April 2023 to 31 March 2024. The Annual report serves the purposes of both a Trustee' report and a directors' report under company law. The Trustee confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
l Policies and objectives
Our mission is to plant the largest number of Churches in the shortest possible time, generating men and women according to the image and likeness of Christ.
"...so that you may be salvation to the ends of the earth." Acts 13:47
In setting objectives and planning for activities, the Trustee have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
l Activities undertaken to achieve objectives
Meeting Together:
Sunday Celebration means meeting together in a large group with corporate worship.
Home Groups meeting one evening each week provide a smaller family-feel environment allowing discussion and closer friendship.
Achievements and performance
l Main achievements of the Company
Meeting together on a weekly basis as Home Groups and for a Sunday Celebration.
Financial review
l Going concern
After making appropriate enquiries, the Trustee have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
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SNOWBALL CHURCH LONDON LIMITED
(A company limited by guarantee)
Financial review (continued)
l Reserves policy
The Trustees closely monitor the level of free reserves available to ensure there is sufficient financial flexibility in place. The Trustees aim to maintain free reserves in unrestricted funds at a level which equates to approximately three months of unrestricted charitable expenditure. At the year end, the unrestricted funds equated to two months of unrestricted charitable expenditure, excluding discretionary grants.
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to support the current level of expenditure and to continue in operational existence for the foreseeable future.
l Principal funding
The primary source of income remains tithes and offerings from the local congregation.
Structure, governance and management
l Constitution
Snowball Church London Limited is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.
The principal object of the charity is (a) to engage in and communicate the Word of God to members, patrons and visitors of Snowball Church London through evangelical materials and events for the benefit of community issues. (b) to create partnerships with missionaries to promote financial support for common causes. (c) raise income through voluntary donations and sales of products and services from members, patrons and visitors of Snowball Church London and all other related activities.
l Methods of appointment or election of Trustee
The management of the Company is the responsibility of the Trustee who are elected and co-opted under the terms of the Memorandum of Association.
Members' liability
The Members of the Company guarantee to contribute an amount not exceeding £1 to the assets of the Company in the event of winding up.
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SNOWBALL CHURCH LONDON LIMITED
(A company limited by guarantee)
Statement of Trustee's responsibilities
The Trustee (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustee's report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustee to prepare financial statements for each financial . Under company law, the Trustee must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustee are required to:
∙select suitable accounting policies and then apply them consistently;
∙observe the methods and principles of the Charities SORP (FRS 102);
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Trustee are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustee on 17 September 2024 and signed on their behalf by:
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SNOWBALL CHURCH LONDON LIMITED
(A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Independent examiner's report to the Trustee of Snowball Church London Limited ('the Company')
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We report to the charity Trustee on our examination of the accounts of the Company for the year ended 31 March 2024.
Responsibilities and basis of report
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As the Trustee of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied ourselves that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, we report in respect of our examination of the Company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out our examination we have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
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We have completed our examination. We confirm that no matters have come to our attention in connection with the examination giving us cause to believe:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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We have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the Company's Trustee, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our work has been undertaken so that we might state to the Company's Trustee those matters we are required to state to them in an Independent examiner's 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 Company and the Company's Trustee as a body, for our work or for this report.
Signed: Dated: 17 September 2024
Marcel Jung ICPA (Fellow), FFA/FIPA, FAIA
IT & Accounting Solutions Limited
Certified Practising Accountants
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SNOWBALL CHURCH LONDON LIMITED
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2024
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Total funds brought forward
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Total funds carried forward
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The Statement of financial activities includes all gains and losses recognised in the year.
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The notes on pages 9 to 15 form part of these financial statements.
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SNOWBALL CHURCH LONDON LIMITED
(A company limited by guarantee)
REGISTERED NUMBER: 11243931
BALANCE SHEET
AS AT 31 MARCH 2024
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Net assets excluding pension asset
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The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustee on 17 September 2024 and signed on their behalf by:
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SNOWBALL CHURCH LONDON LIMITED
(A company limited by guarantee)
REGISTERED NUMBER: 11243931
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
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The notes on pages 9 to 15 form part of these financial statements.
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SNOWBALL CHURCH LONDON LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Snowball Church London Limited is a private company, limited by guarantee, incorporated in England & Wales, registered number 11243931. The registered office is 28 Harrow Way, Maidstone, Kent, ME145TU.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: 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 (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Snowball Church London Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
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SNOWBALL CHURCH LONDON LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
2.Accounting policies (continued)
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Tangible fixed assets and depreciation
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Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
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Liabilities and provisions
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Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
General funds are unrestricted funds which are available for use at the discretion of the Trustee in furtherance of the general objectives of the Company and which have not been designated for other purposes.
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SNOWBALL CHURCH LONDON LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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Income from donations and legacies
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Grants to Individuals
2024
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Grants to Individuals
2023
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Analysis of expenditure on charitable activities
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SNOWBALL CHURCH LONDON LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
5.Analysis of expenditure on charitable activities (continued)
Summary by fund type (continued)
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Analysis of expenditure by activities
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Activities undertaken directly
2024
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Activities undertaken directly
2023
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Grant funding of activities
2023
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Independent examiner's remuneration
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Fees payable to the Company's independent examiner for the independent examination of the Company's annual accounts
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Fees payable to the Company's independent examiner in respect of:
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SNOWBALL CHURCH LONDON LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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The average number of persons employed by the Company during the year was as follows:
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No employee received remuneration amounting to more than £60,000 in either year.
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Trustee's remuneration and expenses
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During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).
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During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL).
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SNOWBALL CHURCH LONDON LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
10.Tangible fixed assets (continued)
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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Financial assets measured at fair value through income and expenditure
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Financial assets measured at fair value through income and expenditure comprise cash balances.
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Statement of funds - current year
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Balance at 1 April 2023
£
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Balance at 31 March 2024
£
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General Funds - all funds
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SNOWBALL CHURCH LONDON LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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Summary of funds (continued)
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Summary of funds - current year
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Balance at 1 April 2023
£
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Balance at 31 March 2024
£
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Analysis of net assets between funds
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Analysis of net assets between funds - current period
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Creditors due within one year
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Related party transactions
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The Company has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Company at 31 March 2024.
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