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REGISTERED COMPANY NUMBER: 06449771 (England and Wales)
REGISTERED CHARITY NUMBER: 1123227











THE CHRISTIAN COMMUNITY IN LONDON LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






THE CHRISTIAN COMMUNITY IN LONDON LTD






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Report of the Trustees 1 to 5

Report of the Independent Auditor 6 to 9

Statement of Financial Activities 10

Balance Sheet 11

Notes to the Financial Statements 12 to 22

THE CHRISTIAN COMMUNITY IN LONDON LTD (REGISTERED NUMBER: 06449771)

REPORT OF THE TRUSTEES
for the year ended 31 March 2024


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 March 2024. 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 aim of The Christian Community, Movement for Religious Renewal is to further the religious and spiritual life, based on the celebration of the seven sacraments in a renewed form, from which flow pastoral care, spiritual direction and an active community life.

The Church needs to provide buildings for these celebrations and activities. We fundraise for the costs associated with running the church, notably the maintenance of a priest and the costs of maintaining and running the church. Temple Lodge Club, the wholly owned subsidiary trading company, raises funds to maintain our building and site, and provides a human setting for our work.

The regular services along with the pastoral and educational work of the priest form the basis of the church's activity, along with its outreach work of regular talks, lectures, gospel study and working groups. The church is host to concerts and other artistic events.

Regular church and committee meetings of the church in London and the broader Christian Community in Great Britain with its Synod and executive committee meetings have taken place in our venue again during the year. Regular courses, conferences and study sessions for members, friends and enquirers, which help in understanding and the significance of Christianity and The Christian Community, feature in our programme of activities.

The conversion and partial rebuilding of Sir Frank Brangwyn's former studio to create the church for The Christian Community in London has served to provide a single centre in London for its services and activities. The mezzanine floor with its 'northern light' windows was retained and continues to be let to The Gate Vegetarian Restaurant, which as our long-term tenants provide useful income as well as human support.

The Temple Lodge Club Guesthouse continues to provide accommodation to visitors to London, as well as spaces for conferences/meetings of other organisations.

We are tackling the backlog of major repairs, some of which were delayed by the uncertainties of the Covid time. We are confident that these repairs and upgrades will put us in a better position going into the future, with less ongoing repair costs.

Our management structure, with a Guesthouse Manager (not a priest) a clear delineation of responsibilities within the church and Guesthouse continues to aid our operation. The church Treasurer is managing donations from members and income from church activities. The directors are confident that these changes will mean that the Charity will return at least to a break-even position in the short to medium term.

Public benefit
Services and activities of The Christian Community are open to all. Priestly pastoral care provides a sense of purpose and meaning in life which has demonstrable benefits for those who receive it. Our pastoral practice extends far beyond regular church attenders. The sense of community fostered by our activities brings succour and help to many people who would otherwise be turning to social services and includes the safeguarding of children and vulnerable adults.

Temple Lodge Club provides quiet, comfortable and relaxing accommodation for the many visitors to London. All our activities derive from the ethos of the church and are compatible fund-raising for the support and maintenance of the church building. Without them it would be unable to fulfil its tasks, pastoral and spiritual, which are dependent on the celebration of the sacraments. Likewise the letting of rooms for meetings in Temple Lodge performs a service to both the local and wider national community


THE CHRISTIAN COMMUNITY IN LONDON LTD (REGISTERED NUMBER: 06449771)

REPORT OF THE TRUSTEES
for the year ended 31 March 2024

ACHIEVEMENT AND PERFORMANCE
Monthly donations from members of the congregation have remained quite steady over the year, with some new donors coming on board in the last few months. While these donations do not fully cover our priest's expenses, we do have sporadic additional income from sacramental donations (e.g. for funerals). The other activities of the Charity raise enough revenue to support our priest.

FINANCIAL REVIEW
The charity continues with its strong and professionally established administrative procedures.

This year the charity is reporting net expenditure of £597,614 as shown in the Statement of Financial Activities, however, after excluding exceptional items, the charity is reporting net expenditure of £97,614. This compares with net expenditure of £99,993 in the previous year. The decrease in the level of net expenditure reflects the impact of the increased total income with good cost management.

Further details of exceptional items are found in Note 8.

Reserves Policy
The policy for reserves is to set aside one of the investment properties with an estimated value of £800,000 and an extra £100,000 to cover the immediate costs of the charity.

At the balance sheet date total funds amounted £7,961,040, all of which were unrestricted. Of this total £5,713,526 is represented by freehold properties & their contents, £1,650,000 by residential and investment properties and £41,000 by the net investment in its subsidiary, being a total of £7,404,526. This leaves net funds of £556,514 which can be considered to represent the unrestricted general funds of the charity, separate to the investment property noted above. These funds are held primarily in the form of cash and other short term debtors and creditors.

FUTURE PLANS
The Charity continues to focus on its spiritual ministry activities, primarily through the church. The major repairs to the building will help to ensure a more predictable level of spending for the upkeep of the building.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.


THE CHRISTIAN COMMUNITY IN LONDON LTD (REGISTERED NUMBER: 06449771)

REPORT OF THE TRUSTEES
for the year ended 31 March 2024


STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The trustees consider that the principal risks faced by the charity relate to the operational management of its trading subsidiary and the general financial management and position of the charity. The trustees have sought to mitigate these risks through the following principal measures:

-The day to day management of the trading activity is delegated to the Guesthouse Manager. All major policy
and financial decisions are take in consultation with one of the Trustees, the Chair of the Board of Directors.
The Board of Directors meets quarterly to a set policy, make decisions, and monitor performance.
-Annual budgets are prepared in conjunction with the company's external accountants and periodic
management accounts are prepared to compare actual and budgeted results.
-The trading activities are subject to normal health and safety and employment law regulations and
compliance with these areas is monitored periodically by the board.
-The charity has sufficient funds and cash balances to meet foreseeable short term deficits but has been
actively considering ways to reduce its annual shortfalls, focussing mainly on increasing its level of trading
income from the construction of new accommodation.
-As with its trading subsidiary annual budgets are prepared and monitored against actual performance via the
management accounts.


The Christian Community was founded in 1922 in Central Europe and has worked since then as an autonomous Movement for the Renewal of the Religious Life. It is concerned with the advancement of religion by working toward a renewal of Christianity by building free congregations and uniting people who wish to become Christians in a form suitable to our time.

The Christian Community in London Limited is established with a memorandum and articles of association as a charitable company, registered with The Charity Commission under the registration number 1123227, and a Company registration number 06449771. The effective starting date was 1st April 2008. Its intention is to foster the renewal of the religious life in particular in London. It is administered by a board of directors and is affiliated with The Christian Community in Great Britain (Reg. Charity No. 210029) working in close cooperation with their representatives in terms of the objectives of the church. Decisions taken by them are incorporated into the activities of the Christian Community in London.

It is administered by a board of trustees, 6 to 9 in number, appointed from the ordained priests and lay members of The Christian Community in the British region, who meet regularly during the year. At least one of the priests, a lay member and the treasurer have to be from the greater London area. Resignations and appointments are made at the Annual General Meeting.

The administration of the Church and its buildings is the responsibility of the resident priest and his fellow directors who meet 2 - 3 times a year. The priest also meets regularly with a church council drawn from amongst its members to discuss the ongoing affairs of the church and its development. A small team including an administrator, a housekeeper and other staff takes on management of the day-to-day affairs of the church and its associated activities including those of the Temple Lodge Club Ltd., which is the fund-raising subsidiary of The Christian Community.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
06449771 (England and Wales)

Registered Charity number
1123227


THE CHRISTIAN COMMUNITY IN LONDON LTD (REGISTERED NUMBER: 06449771)

REPORT OF THE TRUSTEES
for the year ended 31 March 2024

Registered office
Temple Lodge
51 Queen Caroline Street
Hammersmith
LONDON
W6 9QL

Trustees
The Rev T O Ravetz
Mrs B Johnstone
Mrs L M Sofair
Mrs C V Saftoiu (resigned 24.5.23)
Mr G Saftoiu (resigned 30.5.23)
Rev N I T Lumsden Minister of Religion

Company Secretary
Mrs L M Sofair

Auditor
Shaw Gibbs Audit Ltd
264 Banbury Road
Oxford
Oxfordshire
OX2 7DY

STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of The Christian Community in London Ltd 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).

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;
-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.

In so far as the trustees are aware:

-there is no relevant audit information of which the charitable company's auditor is 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 auditor is aware of that information.

AUDITOR
The auditors, Shaw Gibbs Audit Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.


THE CHRISTIAN COMMUNITY IN LONDON LTD (REGISTERED NUMBER: 06449771)

REPORT OF THE TRUSTEES
for the year ended 31 March 2024

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 20 February 2025 and signed on its behalf by:





The Rev T O Ravetz - Trustee

REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF
THE CHRISTIAN COMMUNITY IN LONDON LTD

Opinion
We have audited the financial statements of The Christian Community in London Ltd (the 'charitable company') for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet 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).

In our opinion the financial statements:
-give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 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; 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 Auditor 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 Auditor 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 AUDITOR TO THE MEMBERS OF
THE CHRISTIAN COMMUNITY IN LONDON LTD


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 directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies
regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic
Report or in preparing the Report of the Trustees..

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.

REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF
THE CHRISTIAN COMMUNITY IN LONDON LTD


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 Auditor 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 the audit was considered capable of detecting irregularities including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified those laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector;
- we focused on specific significant laws and regulations which we considered were more likely to have a direct material effect on the financial statements or the operations of the company, notably the Companies Act 2006, taxation, data protection and employment legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting the accounting records and legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions:
- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation:
- reading the minutes of meetings of those charged with governance;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC, relevant regulators where applicable, and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.


REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF
THE CHRISTIAN COMMUNITY IN LONDON LTD

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 Auditor.

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 auditor'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 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.




Lance Redman (Senior Statutory Auditor)
for and on behalf of Shaw Gibbs Audit Ltd
264 Banbury Road
Oxford
Oxfordshire
OX2 7DY

20 February 2025

THE CHRISTIAN COMMUNITY IN LONDON LTD

STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)
for the year ended 31 March 2024

2024 2023
Unrestricted Restricted Total Total
fund fund funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 22,425 - 22,425 24,668

Charitable activities 3
Church 2,508 - 2,508 2,641
Retreat centre 33,256 - 33,256 41,656

Investment income 2 109,614 - 109,614 69,688
Total 167,803 - 167,803 138,653

EXPENDITURE ON
Raising funds
Investment management costs 4 48,675 - 48,675 7,517
48,675 - 48,675 7,517

Charitable activities 5
Church 78,930 - 78,930 111,349
Retreat centre 219 - 219 1,311
Support 137,593 - 137,593 118,469

Other 8 500,000 - 500,000 -
Total 765,417 - 765,417 238,646

NET INCOME/(EXPENDITURE) (597,614 ) - (597,614 ) (99,993 )
Other recognised gains/(losses)
Gains on revaluation of fixed assets 88,000 - 88,000 -
Net movement in funds (509,614 ) - (509,614 ) (99,993 )

RECONCILIATION OF FUNDS
Total funds brought forward 8,470,654 - 8,470,654 8,570,647

TOTAL FUNDS CARRIED FORWARD 7,961,040 - 7,961,040 8,470,654

THE CHRISTIAN COMMUNITY IN LONDON LTD (REGISTERED NUMBER: 06449771)

BALANCE SHEET
31 March 2024

2024 2023
Unrestricted Restricted Total Total
fund fund funds funds
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 12 5,713,526 - 5,713,526 5,759,840
Investments
Investments 13 41,000 - 41,000 41,000
Residential Properties 14 1,650,000 - 1,650,000 1,562,000
7,404,526 - 7,404,526 7,362,840

CURRENT ASSETS
Debtors 15 338,499 - 338,499 876,810
Cash at bank 243,444 - 243,444 250,392
581,943 - 581,943 1,127,202

CREDITORS
Amounts falling due within one year 16 (25,429 ) - (25,429 ) (19,388 )

NET CURRENT ASSETS 556,514 - 556,514 1,107,814

TOTAL ASSETS LESS CURRENT
LIABILITIES

7,961,040

-

7,961,040

8,470,654

NET ASSETS 7,961,040 - 7,961,040 8,470,654
FUNDS 17
Unrestricted funds 7,961,040 8,470,654
TOTAL FUNDS 7,961,040 8,470,654

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 20 February 2025 and were signed on its behalf by:





T O Ravetz - Trustee

THE CHRISTIAN COMMUNITY IN LONDON LTD

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. 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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

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.

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.

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.

Raising funds
This represents costs relating to the management of the investment properties.

Charitable activities
This is represented by the costs of running the church including it's associated activities, and the retreat centre.

Governance costs
These costs include legal, accountancy and audit fees.

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


Freehold property - 2% on cost
Improvements to property - 2% on cost
Fixtures and fittings - 20% on reducing balance
Computer equipment - 20% on reducing balance

Residential properties
Residential properties are shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve.

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

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.


THE CHRISTIAN COMMUNITY IN LONDON LTD

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

1. ACCOUNTING POLICIES - continued

Fund accounting
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.

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.

2. INVESTMENT INCOME
2024 2023
£    £   
Rents receivable 33,719 17,400
Rents received from subsidiary 24,000 24,000
Interest on subsidiary loan 48,364 27,351
Deposit account interest 3,531 937
109,614 69,688

3. INCOME FROM CHARITABLE ACTIVITIES
2024 2023
Activity £    £   
Room hire Church 704 898
Sundry income Church 1,804 1,743
Rents & services Retreat centre 22,653 33,173
Room hire Retreat centre 10,293 8,031
Sundry income Retreat centre 310 452
35,764 44,297

4. INVESTMENT MANAGEMENT COSTS
2024 2023
£    £   
Property maint & repair costs 42,810 7,517
Maintenance charges 5,865 -
48,675 7,517


THE CHRISTIAN COMMUNITY IN LONDON LTD

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

5. CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities Support
Direct (see note costs (see
Costs 6) note 7) Totals
£    £    £    £   
Church 71,440 7,490 - 78,930
Retreat centre 219 - - 219
Support 20,664 - 116,929 137,593
92,323 7,490 116,929 216,742

6. GRANTS PAYABLE
2024 2023
£    £   
Church 7,490 7,203
The total grants paid to institutions during the year was as follows:
2024 2023
£    £   
Christian Community in Great Britain 7,490 7,203

All the grants payable are to an institution, Christian Community in Great Britain.

Christian Community in Great Britain shares similar objectives as the charitable company but is not under common control.

Further information regarding Christian Community in Great Britain, can be found in the Related Party Note.

7. SUPPORT COSTS
Governance
Management costs Totals
£    £    £   
Support 79,885 37,044 116,929

Support costs can be apportioned equally between each activity.


THE CHRISTIAN COMMUNITY IN LONDON LTD

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

7. SUPPORT COSTS - continued
Support costs, included in the above, are as follows:

Management
2024 2023
Total
Support activities
£    £   
Wages 136,280 105,950
Social security 4,272 1,091
Pensions 8,677 1,175
Rates and water 1,886 1,773
Light and heat 24,721 19,513
Bad debts (1,219 ) -
Cleaning 19,429 25,489
Travel & subsistence - 10,460
Shared salary adjustments (149,680 ) (116,629 )
Depreciation of tangible and heritage assets 33,923 31,061
Bank interest 1,596 2,552
79,885 82,435
Governance costs
2024 2023
Total
Support activities
£    £   
Auditors' remuneration 8,580 8,100
Auditors' remuneration for non audit work 13,121 9,498
Accountancy and legal fees 15,343 8,389
37,044 25,987

8. OTHER

The amounts owed by group undertakings relate to a loan provided to its subsidiary, Temple Lodge Cub Ltd (TLC). This loan was made to enable TLC to undertake major improvements to the property to facilitate the Bed and Breakfast business.This arrangement has increased the value of the Charity's interest in the property, but the magnitude of the loan has proven to be in excess of the subsidiary's capacity to repay within the initial lease term. The charity trustees believe that an estimated provision of £500,000 is required to arrive at a balance that the subsidiary will realistically be able to repay. The amounts owed to the charity more than one year, is made up of £795,677 (2023: £810,677) less a provision of irrecoverable amounts of £500,000 (2023: NIL). The charity has treated the irrecoverable amount as an exceptional item shown as other in the Statement of Financial Activities.


THE CHRISTIAN COMMUNITY IN LONDON LTD

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

9. NET INCOME/(EXPENDITURE)

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

2024 2023
£    £   
Auditors' remuneration 8,580 8,100
Auditors' remuneration for non audit work 13,121 9,498
Depreciation - owned assets 63,923 61,061

10. TRUSTEES' REMUNERATION AND BENEFITS

2024 2023
£ £
Priest's/Trustee's stipend 10,800 35,800
Priest's/Trustee's pension contributions to defined benefit schemes 9,393 3,300
Other remuneration (see below) 940 15,872

21,133 54,972



Trustees' expenses

The day to day management of the retreat centre and the subsidiary's (Temple Lodge Club Ltd) bed & breakfast activity has now been delegated to the Guesthouse Manager. Whereas in the previous accounting period, a former trustee was responsible for this role as well as acting as the priest.

At the end of the financial year, one trustee was acting as the priest at the end of the financial period. In this role, they also received reimbursement for various expenses. These are included in "Other remuneration" above to the extent that they do not relate to their work for the company or its subsidiary. For the financial year, they comprised of personal costs £940 (2023: £5,412), and car running costs for the former priest £NIL (2023: £10,460).

In the prior financial period, the former trustee/priest had an outstanding interest free loan with the charitable company of £27,058 which has now fully been received as of the date of the balance sheet.

11. STAFF COSTS
2024 2023
£    £   
Wages and salaries 147,080 141,750
Social security costs 4,272 1,091
Other pension costs 10,837 4,475
162,189 147,316

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

2024 2023
Retreat Centre and B&B Management 1 1
Cleaning and catering staff 12 4
13 5

THE CHRISTIAN COMMUNITY IN LONDON LTD

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

11. STAFF COSTS - continued

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

The staff costs stated above, include the priest's stipend and also the costs which were recharged to Temple Lodge Club Ltd for the running of the bed and breakfast. The total recharged in the year was £ 149,680 (2023: £116,629).

The Trustee and Rev N Lumsden is the only Key Management. Details of his remuneration are given in note 9.

12. TANGIBLE FIXED ASSETS
Improvements
Freehold Altar to
property painting property
£    £    £   
COST
At 1 April 2023 5,000,000 2,000 1,495,769
Additions - - -
At 31 March 2024 5,000,000 2,000 1,495,769
DEPRECIATION
At 1 April 2023 450,000 - 293,624
Charge for year 30,000 - 29,916
At 31 March 2024 480,000 - 323,540
NET BOOK VALUE
At 31 March 2024 4,520,000 2,000 1,172,229
At 31 March 2023 4,550,000 2,000 1,202,145

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 19,721 3,347 6,520,837
Additions 509 17,100 17,609
At 31 March 2024 20,230 20,447 6,538,446
DEPRECIATION
At 1 April 2023 15,281 2,092 760,997
Charge for year 906 3,101 63,923
At 31 March 2024 16,187 5,193 824,920
NET BOOK VALUE
At 31 March 2024 4,043 15,254 5,713,526
At 31 March 2023 4,440 1,255 5,759,840

THE CHRISTIAN COMMUNITY IN LONDON LTD

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

12. TANGIBLE FIXED ASSETS - continued


Included in the cost of Freehold property above, is freehold land with an estimated value of £3,500,000, which has not been depreciated.

13. FIXED ASSET INVESTMENTS
Capital
Investment
£   
MARKET VALUE
At 1 April 2023 and 31 March 2024 41,000
NET BOOK VALUE
At 31 March 2024 41,000
At 31 March 2023 41,000

There were no investment assets outside the UK.

The charity received restricted donations to assist with the building of the Garden rooms which was undertaken by The Temple Lodge Club Ltd. Therefore, sums raised together with gift aid, have been passed over to the subsidiary in the form of a capital investment in that company. This is shown as a long term investment.

14. RESIDENTIAL PROPERTIES
£   
FAIR VALUE
At 1 April 2023 1,562,000
Revaluation 88,000
At 31 March 2024 1,650,000
NET BOOK VALUE
At 31 March 2024 1,650,000
At 31 March 2023 1,562,000

These properties are held for the primary purpose of providing accommodation for priests, but when not required for this purpose the properties may be rented out.

During the financial year only one of the properties, which is a freehold was not occupied by a priest and has been rented out. It's market value included in the total above, is £1,000,000.

All properties are held in the UK.

THE CHRISTIAN COMMUNITY IN LONDON LTD

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

14. RESIDENTIAL PROPERTIES - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2014 173,188
Valuation in 2016 45,000
Valuation in 2019 200,000
Valuation in 2022 312,000
Valuation in 2024 88,000
Cost 831,812
1,650,000

15. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 2,106 1,911
Amounts owed by group undertakings 32,573 35,930
Other debtors 6,873 27,093
Prepayments and accrued income 1,270 1,199
42,822 66,133
Amounts falling due after more than one year:
Amounts owed by group undertakings 295,677 810,677

Aggregate amounts 338,499 876,810

The amounts owed by group undertakings, are repayable on demand. They mainly include a loan which is accruing interest at 1% above the Bank of England official bank rate. However as it is not expected to be repaid in one year, the amount has been split to show only the expected repayments as debtors falling due within one year, and the rest shown as falling due after more than one year.


THE CHRISTIAN COMMUNITY IN LONDON LTD

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 10,242 3,758
Social security and other taxes 2,163 1,432
Other creditors 319 250
Accruals and deferred income 12,705 13,948
25,429 19,388

17. MOVEMENT IN FUNDS
Net
movement At
At 1.4.23 in funds 31.3.24
£    £    £   
Unrestricted funds
General fund 8,470,654 (509,614 ) 7,961,040

TOTAL FUNDS 8,470,654 (509,614 ) 7,961,040

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

Incoming Resources Gains and Movement
resources expended losses in funds
£    £    £    £   
Unrestricted funds
General fund 167,803 (765,417 ) 88,000 (509,614 )

TOTAL FUNDS 167,803 (765,417 ) 88,000 (509,614 )


Comparatives for movement in funds

Net
movement At
At 1.4.22 in funds 31.3.23
£    £    £   
Unrestricted funds
General fund 8,570,647 (99,993 ) 8,470,654

TOTAL FUNDS 8,570,647 (99,993 ) 8,470,654

THE CHRISTIAN COMMUNITY IN LONDON LTD

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

17. MOVEMENT IN FUNDS - continued

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

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 138,653 (238,646 ) (99,993 )

TOTAL FUNDS 138,653 (238,646 ) (99,993 )

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.4.22 in funds 31.3.24
£    £    £   
Unrestricted funds
General fund 8,570,647 (609,607 ) 7,961,040

TOTAL FUNDS 8,570,647 (609,607 ) 7,961,040

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£    £    £    £   
Unrestricted funds
General fund 306,456 (1,004,063 ) 88,000 (609,607 )

TOTAL FUNDS 306,456 (1,004,063 ) 88,000 (609,607 )

18. RELATED PARTY DISCLOSURES

Temple Lodge Club Ltd
Temple Lodge Club Ltd is a wholly owned subsidiary of the company. The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Christian Community in Great Britain
At the year end the director Reverend T Ravetz was also a director of The Christian Community in Great Britain.

The charitable company makes an annual contribution to Christian Community in Great Britain which amounted to £7,490 (2023: £7,203).

Pension payments

THE CHRISTIAN COMMUNITY IN LONDON LTD

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

18. RELATED PARTY DISCLOSURES - continued

During the year the company made contributions towards the pension of a former minister, who was also a trustee of the charity, totalling £7,233.

19. INVESTMENT IN SUBSIDIARIES

The charitable company is the sole member of Temple Lodge Club Ltd, a limited company registered in England and Wales, which provides bed and breakfast accommodation. As at 31st March 2024, the subsidiary had aggregate net liabilities of £122,332 (2023: net liabilities £70,505), and a loss for the year of £ 51,827 (2023: loss of £8,398).