His Church Limited 07260167 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is sale of goods and services to customers Digita Accounts Production Advanced 6.30.9574.0 true true true 07260167 2023-01-01 2023-12-31 07260167 2023-12-31 07260167 bus:OrdinaryShareClass1 bus:OtherShareType 2023-12-31 07260167 core:CurrentFinancialInstruments 2023-12-31 07260167 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 07260167 core:OtherResidualIntangibleAssets 2023-12-31 07260167 core:ConstructionInProgressAssetsUnderConstruction 2023-12-31 07260167 core:FurnitureFittingsToolsEquipment 2023-12-31 07260167 core:LandBuildings 2023-12-31 07260167 core:MotorVehicles 2023-12-31 07260167 bus:SmallEntities 2023-01-01 2023-12-31 07260167 bus:Audited 2023-01-01 2023-12-31 07260167 bus:FilletedAccounts 2023-01-01 2023-12-31 07260167 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07260167 bus:RegisteredOffice 2023-01-01 2023-12-31 07260167 bus:Director1 2023-01-01 2023-12-31 07260167 bus:OrdinaryShareClass1 bus:OtherShareType 2023-01-01 2023-12-31 07260167 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07260167 core:IntangibleAssetsOtherThanGoodwill 2023-01-01 2023-12-31 07260167 core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 07260167 core:Buildings 2023-01-01 2023-12-31 07260167 core:ConstructionInProgressAssetsUnderConstruction 2023-01-01 2023-12-31 07260167 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 07260167 core:LandBuildings 2023-01-01 2023-12-31 07260167 core:MotorVehicles 2023-01-01 2023-12-31 07260167 core:PlantMachinery 2023-01-01 2023-12-31 07260167 1 2023-01-01 2023-12-31 07260167 countries:England 2023-01-01 2023-12-31 07260167 2022-12-31 07260167 core:OtherResidualIntangibleAssets 2022-12-31 07260167 core:ConstructionInProgressAssetsUnderConstruction 2022-12-31 07260167 core:FurnitureFittingsToolsEquipment 2022-12-31 07260167 core:LandBuildings 2022-12-31 07260167 core:MotorVehicles 2022-12-31 07260167 2022-01-01 2022-12-31 07260167 2022-12-31 07260167 bus:OrdinaryShareClass1 bus:OtherShareType 2022-12-31 07260167 core:CurrentFinancialInstruments 2022-12-31 07260167 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 07260167 core:OtherResidualIntangibleAssets 2022-12-31 07260167 core:ConstructionInProgressAssetsUnderConstruction 2022-12-31 07260167 core:FurnitureFittingsToolsEquipment 2022-12-31 07260167 core:LandBuildings 2022-12-31 07260167 core:MotorVehicles 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07260167

His Church Limited

Annual Report and Financial Statements

for the year ended 31 December 2023

 

His Church Limited

(Registration number: 07260167)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

360

405

Tangible assets

5

45,247

51,312

 

45,607

51,717

Current assets

 

Stocks

6

6,370

6,370

Debtors

7

55,852

68,797

Cash at bank and in hand

 

381,153

144,016

 

443,375

219,183

Creditors: Amounts falling due within one year

8

(483,488)

(265,406)

Net current liabilities

 

(40,113)

(46,223)

Net assets

 

5,494

5,494

Capital and reserves

 

Called up share capital

9

1

1

Retained earnings

5,493

5,493

Shareholders' funds

 

5,494

5,494

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 September 2024 and signed on its behalf by:
 

.........................................
C R Matthews
Director

 

His Church Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
54 Bootham
YORK
YO30 7XZ

The principal place of business is:
PO Box 201
Market Rasen
Lincolnshire
LN8 9AT

These financial statements were authorised for issue by the Board on 3 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The directors of the holding company have confirmed continuing support to the trading entity for the next 12 months from signing the balance sheet.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 3 September 2024 was Sarah Wearing, FCA, DChA, who signed for and on behalf of HPH.

 

His Church Limited

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amout of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Semi-permanent structures

20% Reducing Balance

Plant and machinery

25% Straight Line

Other assets

25% Reducing Balance

Heritage assets

The Company holds a famous Cold War interceptor, English Electric Lightning T. Mk5 XS 459 plane, which first flew in December 1965.

It is included at cost and due to its historic nature it has been deemed to have an indefinite life. The Company therefore values the asset at full cost with no depreciation.

The plane was purchased in 2021 for £22,000.

Intangible assets

Costs capitalised relating to the registration of a trademark.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Intangible assets

10% Straight Line

 

His Church Limited

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

The stock of containers is stated at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase and other costs incurred in bringing stock to its present location. At each reporting date, the stock of containers is assessed for impairment. If the stock of containers is impaired, the carrying amount is reduced and the impairment loss is recognised immediately in the statement of financial activities.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Corporate gift aid distribution

The corporate gift aid distribution to the company’s parent charity is recognised as a liability in the financial statements in the reporting period in which the diistribution is declared in accordance with the terms of a deed of covenant between the two entities.

 

His Church Limited

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company after deducting all of its
liabilities. Where shares are issued, any component that creates a financial liability of the company is
presented as a liability in the balance sheet. The corresponding dividends relating to the liability
component are charged as interest expense in the profit and loss account.

3

Staff numbers

The average number of officers of the company (including directors) during the year, was 3 (2022 - 3). The officers of the company received no remuneration in the year.

The company utilises employees of the parent entity for which it is recharged during the year.

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

Additions acquired separately

450

450

At 31 December 2023

450

450

Amortisation

At 1 January 2023

45

45

Amortisation charge

45

45

At 31 December 2023

90

90

Carrying amount

At 31 December 2023

360

360

At 31 December 2022

405

405

 

His Church Limited

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

5

Tangible assets

Semi-permanent structures
£

Plant and machinery
 £

Other assets
£

Heritage assets
£

Total
£

Cost or valuation

At 1 January 2023

15,745

11,968

5,165

22,000

54,878

Additions

800

-

-

-

800

At 31 December 2023

16,545

11,968

5,165

22,000

55,678

Depreciation

At 1 January 2023

2,099

499

968

-

3,566

Charge for the year

2,823

2,992

1,050

-

6,865

At 31 December 2023

4,922

3,491

2,018

-

10,431

Carrying amount

At 31 December 2023

11,623

8,477

3,147

22,000

45,247

At 31 December 2022

13,646

11,469

4,197

22,000

51,312

 

His Church Limited

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

6

Stocks

2023
£

2022
£

Other inventories

6,370

6,370

7

Debtors

Current

2023
£

2022
£

Trade debtors

55,852

68,797

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

990

7,670

Amounts owed to group undertakings and undertakings in which the company has a participating interest

446,426

228,642

Taxation and social security

 

33,743

26,976

Accruals and deferred income

 

2,329

2,118

 

483,488

265,406

9

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1

       

10

Parent and ultimate parent undertaking

The company's immediate parent is His Church (a UK registered charity, number 1097667), constituted in the United Kingdom.

  These financial statements are available upon request from Hangar 3, Brookenby Park, Binbrook, Market Rasen, Lincolnshire, LN8 6HF