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REGISTERED COMPANY NUMBER: 08246310 (England and Wales)
REGISTERED CHARITY NUMBER: 1152061









REPORT OF THE TRUSTEES AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

CHRIST CHURCH MAYFAIR

CHRIST CHURCH MAYFAIR

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Report of the Trustees 1 to 4

Report of the Independent Auditors 5 to 7

Statement of Financial Activities 8

Balance Sheet 9

Cash Flow Statement 10

Notes to the Cash Flow Statement 11

Notes to the Financial Statements 12 to 22

CHRIST CHURCH MAYFAIR (REGISTERED NUMBER: 08246310)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023



The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES
Objectives and aims
The charitable company Christ Church Mayfair was incorporated as a vehicle to take over the activities of The Bible Talks. The transfer took place on 1st October 2018 by virtue of a deed of transfer.

The charity was established to advance the Christian faith and its main activity is the provision of Christian teaching at Christ Church, Mayfair in London.

Significant activities
Our vision is to make disciples of Jesus Christ by seeking to encourage believers to grow in maturity, serve in ministry and go in mission to reach those who don't know Christ. We seek to build community and attract newcomers to the church through two Sunday services and a variety of midweek activities.

The church's activities continued during this period. One encouraging development was that the student numbers, which declined during and immediately after the Covid 19 pandemic, returned to healthier numbers. Services continued to be livestreamed. A good number of newcomers also arrived, and attendance at mid-week Bible study groups continued at a healthy level. .

Over the period the church hosted a number of guest dinners and talks to which church family members could invite friends and family interested in exploring the Christian faith. The church also organised Christianity Explored and Honest Questions, two courses that have a similar aim.

We are grateful that volunteers with Tamar, an antitrafficking group working in the local community to reach out to trafficked women in the sex trade, were able to continue their visits to women.

CCM's support of Midweek in Mayfair, a lunchtime meeting for local business people, has continued. Midweek in Mayfair continues to give a grant to CCM for staff time but the amount is lower than it once was.

The seven ministry interns who started on 1 September 2022 continued to serve into the period covered by these accounts for the remainder of that academic year. They were given a range of practical responsibilities and ministry experience, in addition to the training which they receive. With effect from 1 September 2023 there were three interns, again with a spread of practical and ministry responsibilities.

The full-time administrator employed in September 2021 remained in post. The part-time tech manager who was recruited at the end of September 2021 did too; he was able to meet the increased technical needs of the church.

Grantmaking and training
The charity continues to provide support for a number of individuals and organizations outside the church. This included financial support for people involved in Christian ministry and training both within the UK and abroad, as well as gifts to Christian organizations in the UK supporting workers here and overseas.

A hardship fund (the Deacons' Fund) has been a great blessing to many in the church family who have found themselves in financial hardship. Church family members who could afford to do so have given generously to this end and those in need were able to apply for a gift or loan. The process was carefully monitored by the Deacons: Jal Quinn, Susie Dye, Adrian Valeriano and Jo Duckering.

Efforts to reach different parts of London with the good news of Jesus Christ continued, and so support to the Bridge Church in Battersea has continued.

CCM would like to continue giving volunteers the opportunity explore ministry and gain some theological training with a view to potentially going into this in a full-time paid capacity and intends to make grants available to men and women to be able to do this as volunteers going forward. We are delighted that, over the period covered by these accounts, the number of interns increased after suffering a drop during the pandemic.


CHRIST CHURCH MAYFAIR (REGISTERED NUMBER: 08246310)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023


OBJECTIVES AND ACTIVITIES
Volunteers
We continue to be dependent on a large number of volunteers to run the activities of the charity and are very grateful for all their flexibility and time in a huge variety of roles including Sunday School teachers, Bible study leaders, musicians for Sunday services, welcomers & stewards and Deacons. The staff team have provided a lead and support, but it is no exaggeration to say that the ministry of the church could not have taken place without a huge, servant-hearted team of church family members.

STRATEGIC REPORT
Reserves policy
Christ Church Mayfair endeavours to maintain sufficient reserves to manage ongoing cashflow requirements in line with the recommendation of the Charity Commission (approximately three months of outgoings).

The Statement of Financial Activities is set out in this report and shows at the end of the year the total reserves held amounted to £1,129,202

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity was established to advance the Christian faith through Christian teaching at Christ Church, Mayfair in London.

The charity originally operated as an unincorporated charity, The Bible Talks, registered charity number 1092036, controlled by its governing document, a Trust Deed, dated 4 November 2001 as amended by a Supplemental Deed dated 14 April 2002.

On 1st October 2018 the assets and undertakings of the unincorporated charity's were transferred to Christ Church Mayfair, a charitable company limited by guarantee, registered in England and Wales (company number 08246310) and registered with the Charity Commission under charity number 1152061.

At the date of the transfer the unincorporated charity had loans secured against the freehold properties held by it. It was not possible to renegotiate these on comparable terms to allow the transfer of properties and loans to the limited company, so the trustees resolved to retain these within the unincorporated charity until such time as this could be resolved. During the period covered by these accounts one of those properties was sold. The charitable company continues to cover the cost of the rent and maintenance of the other property held by The Bible Talks which is used to house the Senior Minister. Costs incurred in relation to the continued operation of the unincorporated charity are recharged to the charitable company. This has been agreed by an exchange of letters.

Organisational structure
The Trustees meet at least twice a year to review all aspects of the charitable company's activities, including finances. Day-to-day decision-making relating to the charitable company's activities is delegated to the Elders of the church, who are responsible to the Trustees for the decisions they make.

Induction and training of new trustees
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the governing document. No new Trustees were appointed this year. All trustees have read the HMRC Fit and Proper Persons guidance and have obtained clear enhanced DBS checks. All new and existing Trustees were given copies of The Essential Trustee document provided by the Charity Commission. The existing Trustees have continued to seek to appoint an additional female trustee but thus far haven't had anyone agree to the join the board.

Related parties
In order to achieve its aims Christ Church Mayfair has contributed towards the salary and housing costs of its Ministers, three of whom are employed by the Diocese. The Reverend Matthew Fuller has continued to be the Senior Minister. Reverend Scott Furey continued as curate until July 2023; he was replaced in August 2023 by Reverend Sam Stephenson. (Reverend Philip Allcock is an Assistant Minister with a licence at Christ Church Mayfair but is on the payroll of the charitable company.)

Christ Church Down Street was established as an ecclesiastical parish and a charity in its own right from 1st September 2019, but has no income to cover costs. Christ Church Mayfair has continued its activities based in the church and made a contribution towards the running costs of the Parochial Church Council, which has responsibility for the building, as without the building, the work would not be able to continue.


CHRIST CHURCH MAYFAIR (REGISTERED NUMBER: 08246310)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023


STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk management
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems are in place to manage our exposure to the major risks. A risk register is maintained and reviewed at least annually. A Financial Controls policy was approved in June 2021 and will be reviewed annually.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
08246310 (England and Wales)

Registered Charity number
1152061

Registered office
The Church Office
Christ Church Down Street
Mayfair
London
W1J 7AN

Trustees
J C Davies
H Gittins
M A Magan
O S Makin
A L Malan

Auditors
Hartley Fowler LLP
Statutory Auditors
Chartered Accountants
4th Floor Tuition House
27-37 St George's Road
Wimbledon
London
SW19 4EU

STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Christ Church Mayfair for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

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 and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

-select suitable accounting policies and then apply them consistently;
-observe the methods and principles in the Charity SORP;
-make judgements and estimates that are reasonable and prudent;
-state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping 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. They 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.

CHRIST CHURCH MAYFAIR (REGISTERED NUMBER: 08246310)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023


STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued
In so far as the trustees are aware:

-there is no relevant audit information of which the charitable company's auditors are unaware; and
-the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

AUDITORS
The auditors, Hartley Fowler LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 25 September 2024 and signed on the board's behalf by:





H Gittins - Trustee

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CHRIST CHURCH MAYFAIR


Opinion
We have audited the financial statements of Christ Church Mayfair (the 'charitable company') for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In our opinion the financial statements:
-give a true and fair view of the state of the charitable company's affairs as at 31 December 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Trustees has been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CHRIST CHURCH MAYFAIR


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identify and assess risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:
- the nature of the industry and sector, control environment and the charities activities;
- results of our enquiries of management about their own identification and assessment of the risks of irregularities;
- any matters we identified having obtained and reviewed the charitable company's documentation of their policies and procedures;
- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;
- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; and
- the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud. In common with all audits we are also required to perform specific procedures to respond to the risk of management override.


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CHRIST CHURCH MAYFAIR



We also obtained an understanding of the legal and regulatory framework that the charitable company operates in. The key laws and regulations we considered in this context included the Charities Act 2011, UK Companies Act and tax legislation.

In addition we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the charitable company's ability to operate or to avoid a material penalty.

As a result of performing the above, we did not identify any key matters related to the potential risk of fraud or non-compliance with laws and regulations.

Our procedures to respond to risks identified included the following:
- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provision of relevant laws and regulations described as having a direct effect on the financial statements;
-enquiring of management concerning actual and potential litigation and claims;
-performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
-reviewing minutes of meetings of those charged with governance, reviewing internal reports, and
-in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments, assessing whether the judgements made in making accounting estimates are indicative of a potential bias and evaluating the business rationale for any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indication of fraud or non-compliance with laws and regulations throughout the audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Jonathan Askew (Senior Statutory Auditor)
for and on behalf of Hartley Fowler LLP
Statutory Auditors
Chartered Accountants
4th Floor Tuition House
27-37 St George's Road
Wimbledon
London
SW19 4EU

9 October 2024

CHRIST CHURCH MAYFAIR

STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2023

Period
1/10/21
Year Ended to
31/12/23 31/12/22
Unrestricted Restricted Total Total
fund funds funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 3 1,087,040 411 1,087,451 1,253,512

Charitable activities 6
Ministry expenses 10,422 - 10,422 9,000
Weekends away 34,091 - 34,091 57,169
Outreach events 28,711 - 28,711 32,002

Other trading activities 4 1,122 - 1,122 2,307
Investment income 5 10,486 - 10,486 2,039
Total 1,171,872 411 1,172,283 1,356,029

EXPENDITURE ON
Charitable activities 7
Ministry expenses 858,599 - 858,599 1,030,616
Weekends away 65,696 - 65,696 46,853
Outreach events 49,876 - 49,876 38,246
Charitable expenses 182,812 - 182,812 158,940
Total 1,156,983 - 1,156,983 1,274,655

NET INCOME 14,889 411 15,300 81,374


RECONCILIATION OF FUNDS
Total funds brought forward 1,060,049 53,853 1,113,902 1,032,528

TOTAL FUNDS CARRIED FORWARD 1,074,938 54,264 1,129,202 1,113,902

CHRIST CHURCH MAYFAIR (REGISTERED NUMBER: 08246310)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Unrestricted Restricted Total Total
fund funds funds funds
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 14 99,558 - 99,558 115,380

CURRENT ASSETS
Stocks 15 2,971 - 2,971 2,156
Debtors 16 378,379 - 378,379 459,077
Cash at bank and in hand 695,731 54,264 749,995 573,462
1,077,081 54,264 1,131,345 1,034,695

CREDITORS
Amounts falling due within one year 17 (101,701 ) - (101,701 ) (36,173 )

NET CURRENT ASSETS 975,380 54,264 1,029,644 998,522

TOTAL ASSETS LESS CURRENT LIABILITIES 1,074,938 54,264 1,129,202 1,113,902

NET ASSETS 1,074,938 54,264 1,129,202 1,113,902
FUNDS 18
Unrestricted funds 1,074,938 1,060,049
Restricted funds 54,264 53,853
TOTAL FUNDS 1,129,202 1,113,902


The financial statements were approved by the Board of Trustees and authorised for issue on 25 September 2024 and were signed on its behalf by:





H Gittins - Trustee

CHRIST CHURCH MAYFAIR

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

Period
1/10/21
Year Ended to
31/12/23 31/12/22
Notes £    £   

Cash flows from operating activities
Cash generated from operations 1 172,299 (33,546 )
Interest paid (5,059 ) (5,047 )
Net cash provided by/(used in) operating activities 167,240 (38,593 )

Cash flows from investing activities
Purchase of tangible fixed assets (1,193 ) (39,347 )
Interest received 10,486 2,039
Net cash provided by/(used in) investing activities 9,293 (37,308 )

Change in cash and cash equivalents in
the reporting period

176,533

(75,901

)
Cash and cash equivalents at the
beginning of the reporting period

573,462

649,363
Cash and cash equivalents at the end of
the reporting period

749,995

573,462

CHRIST CHURCH MAYFAIR

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023


1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
Period
1/10/21
Year Ended to
31/12/23 31/12/22
£    £   
Net income for the reporting period (as per the Statement of
Financial Activities)

15,300

81,374
Adjustments for:
Depreciation charges 17,015 11,890
Interest received (10,486 ) (2,039 )
Interest paid 5,059 5,047
(Increase)/decrease in stocks (815 ) 1,767
Decrease/(increase) in debtors 80,698 (115,782 )
Increase/(decrease) in creditors 65,528 (15,803 )
Net cash provided by/(used in) operations 172,299 (33,546 )


2. ANALYSIS OF CHANGES IN NET FUNDS

At 1/1/23 Cash flow At 31/12/23
£    £    £   
Net cash
Cash at bank and in hand 573,462 176,533 749,995
573,462 176,533 749,995
Total 573,462 176,533 749,995

CHRIST CHURCH MAYFAIR

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. GENERAL INFORMATION

The charity is constituted as a charitable company limited by guarantee, registered in England and Wales.. The address of its registered office is The Church Office, Christ Church, Down Street, Mayfair, London, W1J 7AN. The registered number of the charity is 1152061, and the registered company number is 08246310.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Income from grants, donations and gifts, including gift aid income where applicable, is recognised when the charity has entitlement to the funds, any performance conditions attached to the donations or grants have been met, it is probable that the income will be received and the amount to be measured reliably.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

The charity administers grants to individuals and organisations chosen by the charity in line with the objects of the charity. 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 date are noted as a commitment but not accrued as expenditure.

Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both direct costs and those costs of an indirect nature necessary to support them.

Governance costs
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the Charity and include the audit fee and costs linked to the strategic management of the Charity.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Short leasehold - 20% on cost
Kitchen - Straight line over 20 years
Fixtures & fittings - 20% on cost
Church equipment - 33% on cost and 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


CHRIST CHURCH MAYFAIR

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
General funds are unrestricted funds which are available for us at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Voluntary help
A significant amount of time is expended on the charity's activities which is donated free of charge. It is not possible to quantify the value of time given and accordingly it is neither recorded as donated income nor as an expense in the financial statements.

Cash at bank
Cash at bank includes bank deposit accounts 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.

Debtors
Trade and other debtors are recognised at the settlement amount due. Prepayments are recognised at the invoiced cost prepaid.

Creditors
Creditors are recognised when the charity has a present obligation resulting from a past events that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at the settlement amount.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Government grants
Government grants are recognised when the entity has reasonable assurance that conditions attached to the grant will be complied with and that the grant will be received.

Revenue grants are recognised using the accrual model and are therefore recognised as income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Revenue grants are measured at fair value, being the amount of cash receivable.


CHRIST CHURCH MAYFAIR

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


3. DONATIONS AND LEGACIES
Period
1/10/21
Year Ended to
31/12/23 31/12/22
£    £   
Gifts and donations 918,290 1,017,102
Gift aid 169,161 209,177
Grants - 27,233
1,087,451 1,253,512

4. OTHER TRADING ACTIVITIES
Period
1/10/21
Year Ended to
31/12/23 31/12/22
£    £   
Bookstall income 1,122 2,307

5. INVESTMENT INCOME
Period
1/10/21
Year Ended to
31/12/23 31/12/22
£    £   
Deposit account interest 10,486 2,039

6. INCOME FROM CHARITABLE ACTIVITIES
Period
1/10/21
Year Ended to
31/12/23 31/12/22
Activity £    £   
Income from special events Ministry expenses 2,022 -
Contributions to rent Ministry expenses 8,400 9,000
Weekends away Weekends away 34,091 57,169
Midweek in Mayfair Outreach events - 10,131
Income from special events Outreach events 28,711 21,871
73,224 98,171


CHRIST CHURCH MAYFAIR

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities Support
Direct (see note costs (see
Costs 8) note 9) Totals
£    £    £    £   
Ministry expenses 680,168 - 178,431 858,599
Weekends away 65,696 - - 65,696
Outreach events 49,876 - - 49,876
Charitable expenses - 182,812 - 182,812
795,740 182,812 178,431 1,156,983

8. GRANTS PAYABLE
Period
1/10/21
Year Ended to
31/12/23 31/12/22
£    £   
Charitable expenses 182,812 158,940

The total grants paid to institutions in the year was as follows:
2023 2022
£ £
AIM International 12,700 5,000
Arab World Ministries 11,000 10,000
BCMT Ltd 2,300 5,400
Beacontree Church 10,000 -
Christ Church Down Street - 8,805
Co-Mission Initiative Trust 47,766 40,685
Co-Mission - Slavic appeal - 3,000
Crosslinks 500 -
European Christian Mission - Britain 2,500 -
European Missionary Fellowship 3,000 -
France Mission 6,600 6,000
Gospel Partnership London 500 250
Imperial College Union - 400
Living Word International 13,500 4,000
London City Mission 3,000 -
Overseas Missionary Fellowship 5,500 5,000
Pioneers UK Ministries Mission in Central London 2,500 2,500
St Augustine's Wembley 13,463 -
Tamar 5,000 10,000
Truth Gospel Ministry 2,383 14,430
University and Colleges Christian Fellowship 4,400 4,000
UFM Worldwide 27,500 25,000

Total 174,112 144,470


CHRIST CHURCH MAYFAIR

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


9. SUPPORT COSTS
Governance
Management Finance Other costs Totals
£    £    £    £    £   
Ministry expenses 125,812 17,482 27,175 7,962 178,431

Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute directly to more than one activity are apportioned between those activities. Support costs which are not attributable to a single activity are apportioned between the activities being supported.

Support costs, included in the above, are as follows:

Management
Period
1/10/21
Year Ended to
31/12/23 31/12/22
Ministry Total
expenses activities
£    £   
Wages 58,383 78,776
Social security 6,069 8,077
Pensions 7,110 11,607
Central admin and sundry costs 38,710 38,375
Accountancy 15,540 12,800
125,812 149,635
Finance
Period
1/10/21
Year Ended to
31/12/23 31/12/22
Ministry Total
expenses activities
£    £   
Bank charges 467 478
Depreciation of tangible fixed assets 17,015 11,890
17,482 12,368
Other
Period
1/10/21
Year Ended to
31/12/23 31/12/22
Ministry Total
expenses activities
£    £   
Recharged costs 27,175 44,601

CHRIST CHURCH MAYFAIR

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


9. SUPPORT COSTS - continued
Governance costs
Period
1/10/21
Year Ended to
31/12/23 31/12/22
Ministry Total
expenses activities
£    £   
Auditors' remuneration 3,300 3,150
Auditors' remuneration for non audit work 4,662 2,200
7,962 5,350

10. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Period
1/10/21
Year Ended to
31/12/23 31/12/22
£    £   
Auditors' remuneration 3,300 3,150
Auditors' remuneration for non audit work 4,662 2,200
Depreciation - owned assets 17,015 11,890

11. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the period ended 31 December 2022.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the period ended 31 December 2022.


12. STAFF COSTS
Period
1/10/21
Year Ended to
31/12/23 31/12/22
£    £   
Wages and salaries 340,799 417,423
Social security costs 18,563 24,699
Other pension costs 27,386 44,958
386,748 487,080

CHRIST CHURCH MAYFAIR

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


12. STAFF COSTS - continued

The average monthly number of employees during the year was as follows:

Period
1/10/21
Year Ended to
31/12/23 31/12/22
Ministry staff 10 13
Administration staff 2 2
12 15

No employees received emoluments in excess of £60,000.

The key management personnel compensation during the year was £44,630 (2022 fifteen month period: £54,609).

13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund funds funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 1,225,279 28,233 1,253,512

Charitable activities
Ministry expenses 9,000 - 9,000
Weekends away 57,169 - 57,169
Outreach events 21,871 10,131 32,002

Other trading activities 2,307 - 2,307
Investment income 2,039 - 2,039
Total 1,317,665 38,364 1,356,029

EXPENDITURE ON
Charitable activities
Ministry expenses 993,219 37,397 1,030,616
Weekends away 46,853 - 46,853
Outreach events 38,246 - 38,246
Charitable expenses 158,940 - 158,940
Total 1,237,258 37,397 1,274,655

NET INCOME 80,407 967 81,374
Transfers between funds 16,616 (16,616 ) -
Net movement in funds 97,023 (15,649 ) 81,374

RECONCILIATION OF FUNDS
Total funds brought forward 963,026 69,502 1,032,528

TOTAL FUNDS CARRIED FORWARD 1,060,049 53,853 1,113,902

CHRIST CHURCH MAYFAIR

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


14. TANGIBLE FIXED ASSETS
Short Fixtures
leasehold Kitchen & fittings
£    £    £   
COST
At 1 January 2023 81,909 31,219 3,259
Additions - - 1,183
At 31 December 2023 81,909 31,219 4,442
DEPRECIATION
At 1 January 2023 24,008 8,802 2,879
Charge for year 5,649 2,439 439
At 31 December 2023 29,657 11,241 3,318
NET BOOK VALUE
At 31 December 2023 52,252 19,978 1,124
At 31 December 2022 57,901 22,417 380

Church Office
equipment equipment Totals
£    £    £   
COST
At 1 January 2023 38,690 11,534 166,611
Additions 10 - 1,193
At 31 December 2023 38,700 11,534 167,804
DEPRECIATION
At 1 January 2023 6,178 9,364 51,231
Charge for year 7,196 1,292 17,015
At 31 December 2023 13,374 10,656 68,246
NET BOOK VALUE
At 31 December 2023 25,326 878 99,558
At 31 December 2022 32,512 2,170 115,380

15. STOCKS
2023 2022
£    £   
Finished goods 2,971 2,156


CHRIST CHURCH MAYFAIR

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 184,290 151,061
Due from related charity 177,180 292,991
Prepayments and accrued income 16,909 15,025
378,379 459,077

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 15,526 24,557
Social security and other taxes 9,122 6,266
Accrued expenses 77,053 5,350
101,701 36,173

18. MOVEMENT IN FUNDS
Net
movement At
At 1/1/23 in funds 31/12/23
£    £    £   
Unrestricted funds
General fund 1,060,049 14,889 1,074,938

Restricted funds
Deacons' Fund 50,975 411 51,386
Building project 2,878 - 2,878
53,853 411 54,264
TOTAL FUNDS 1,113,902 15,300 1,129,202

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 1,171,872 (1,156,983 ) 14,889

Restricted funds
Deacons' Fund 411 - 411

TOTAL FUNDS 1,172,283 (1,156,983 ) 15,300


CHRIST CHURCH MAYFAIR

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


18. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net Transfers
At movement between At
1/10/21 in funds funds 31/12/22
£    £    £    £   
Unrestricted funds
General fund 963,026 80,407 16,616 1,060,049

Restricted funds
Kitchen fund 16,616 - (16,616 ) -
Webber St Property fund 33 (33 ) - -
Deacons' Fund 49,975 1,000 - 50,975
Building project 2,878 - - 2,878
69,502 967 (16,616 ) 53,853
TOTAL FUNDS 1,032,528 81,374 - 1,113,902

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 1,317,665 (1,237,258 ) 80,407

Restricted funds
Midweek in Mayfair 10,131 (10,131 ) -
The Bridge Battersea 983 (983 ) -
Webber St Property fund - (33 ) (33 )
Church Plants Fund 26,250 (26,250 ) -
Deacons' Fund 1,000 - 1,000
38,364 (37,397 ) 967
TOTAL FUNDS 1,356,029 (1,274,655 ) 81,374

Midweek in Mayfair
This fund represents a grant received towards the cost of employment of the Midweek in Mayfair staff.

Kitchen fund
The Kitchen fund represents specific donations made to the charity for the refurbishment of the kitchen at Christ Church Mayfair.

The Bridge Battersea
This fund represents a grant received to contribute towards the funding of the ministry costs of The Bridge Battersea.

Webber St Property fund
The fund represents donations made towards the purchase of a new property.

Church Plants fund
This fund represents a grant received from London Diocese to contribute towards the funding of the ministry costs of a church minister with the intention that that minister would lead a church plant from Christ Church Mayfair


CHRIST CHURCH MAYFAIR

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


18. MOVEMENT IN FUNDS - continued

Deacons' fund
This fund exists to support members of the church family who find themselves in needs at any time.

Building project
Funds for a building project to create more rooms, particularly for Sunday School, and to improve disabled access.

19. RELATED PARTY DISCLOSURES

On 1st October 2018 the activities, assets and liabilities of The Bible Talks (TBT), a charity registered in England and Wales under charity number 1092036, were transferred to Christ Church Mayfair (CCM) by virtue of a deed of transfer.

TBT continues to hold the properties and their related mortgages in trust on behalf of CCM. All of the costs relating to the properties and ancillary expenses are borne by CCM. At the year end there was a balance of £177,180 (2022: £292,991) due from TBT to CCM and the total costs recharged in the year amounted to £27,175 (2022: £46,521).

20. LIMITED BY GUARANTEE

The company has no share capital. Every member of the company undertakes to contribute to the assets of the company, in the event of the same being wound up while he is a member, or within one year after he ceases to be a member, for payments of the debts and liabilities contracted before he ceases to be a member and of the costs, charges and expenses of winding up and for the adjustment of the rights of the contributories among themselves, such amounts as may be required not exceeding £10.