6 false false false false false false false false false false true false false true true true true No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 07003576 2023-04-01 2024-03-31 07003576 2024-03-31 07003576 2023-03-31 07003576 2022-04-01 2023-03-31 07003576 2023-03-31 07003576 2022-03-31 07003576 bus:Director2 2023-04-01 2024-03-31 07003576 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 07003576 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 07003576 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07003576 core:AfterOneYear 2024-03-31 07003576 core:AfterOneYear 2023-03-31 07003576 core:WithinOneYear 2024-03-31 07003576 core:WithinOneYear 2023-03-31 07003576 core:RetainedEarningsAccumulatedLosses 2024-03-31 07003576 core:RetainedEarningsAccumulatedLosses 2023-03-31 07003576 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 07003576 bus:SmallEntities 2023-04-01 2024-03-31 07003576 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 07003576 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07003576 bus:CompanyLimitedByGuarantee 2023-04-01 2024-03-31 07003576 bus:FullAccounts 2023-04-01 2024-03-31 07003576 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 07003576 core:FurnitureFittingsToolsEquipment 2023-03-31 07003576 core:FurnitureFittingsToolsEquipment 2024-03-31
COMPANY REGISTRATION NUMBER: 07003576
Connect Church UK
Company Limited by Guarantee
Filleted Unaudited Financial Statements
31 March 2024
Connect Church UK
Company Limited by Guarantee
Financial Statements
Year Ended 31 March 2024
Contents
Page
Statement of Financial Position
1
Notes to the Financial Statements
3
Connect Church UK
Company Limited by Guarantee
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed Assets
Tangible assets
6
2,675,516
2,650,537
Current Assets
Debtors
7
11,681
27,363
Investments
8
31,947
31,083
Cash at bank and in hand
143,663
119,853
-----------
-----------
187,291
178,299
Creditors: amounts falling due within one year
9
6,183
11,189
-----------
-----------
Net Current Assets
181,108
167,110
--------------
--------------
Total Assets Less Current Liabilities
2,856,624
2,817,647
Creditors: amounts falling due after more than one year
10
1,298,982
1,292,142
--------------
--------------
Net Assets
1,557,642
1,525,505
--------------
--------------
Capital and Reserves
Profit and loss account
1,557,642
1,525,505
--------------
--------------
Members Funds
1,557,642
1,525,505
--------------
--------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Connect Church UK
Company Limited by Guarantee
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 28 March 2025 , and are signed on behalf of the board by:
Pastor Kirk Mcatear
Director
Company registration number: 07003576
Connect Church UK
Company Limited by Guarantee
Notes to the Financial Statements
Year Ended 31 March 2024
1. General Information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is Trinity Birmingham 150 Coventry Road, Small Heath, Birmingham, B10 0SE, England.
2. Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue Recognition
All incoming resources are recognised once the charity has entitlement to the resources, it is probable that the resources will be received, and the monetary value of incoming resources can be measured with sufficient reliability.
Tangible Assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
20% straight line
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial Instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Company Limited by Guarantee
5. Employee Numbers
The average number of persons employed by the company during the year amounted to 6 (2023: 5 ).
6. Tangible Assets
Freehold property
Equipment
Total
£
£
£
Cost or valuation
At 1 April 2023
2,632,449
24,280
2,656,729
Additions
756,054
74,349
830,403
Revaluations
( 788,503)
( 788,503)
--------------
---------
--------------
At 31 March 2024
2,600,000
98,629
2,698,629
--------------
---------
--------------
Depreciation
At 1 April 2023
6,194
6,194
Charge for the year
16,919
16,919
--------------
---------
--------------
At 31 March 2024
23,113
23,113
--------------
---------
--------------
Carrying amount
At 31 March 2024
2,600,000
75,516
2,675,516
--------------
---------
--------------
At 31 March 2023
2,632,449
18,086
2,650,535
--------------
---------
--------------
7. Debtors
2024
2023
£
£
Other debtors
11,681
27,363
---------
---------
8. Investments
2024
2023
£
£
Short-term deposits
31,947
31,083
---------
---------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
6,183
11,189
--------
---------
10. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,298,982
1,292,142
--------------
--------------
11. Related Party Transactions
Connect Church is affiliated to the Assemblies of God, Great Britain. CCUK made an annual contribution and additional gift of £6,344 to the Assemblies of God in 2024 (2023: £5,400). Kirk McAtear is employed by AoG GB as a director of Missions on the National Leadership Team. Rev Gerald Tan and Pastor Allen Loh, directors and trustees of CCUK, are senior leaders of Trinity Christian Centre Church in Singapore. In the year ending 31st March 2024 Trinity Christian Centre donated £929,018 to support of the CCUK building project. Louison Ricketts, director and trustee of CCUK, is a trusts of Gilgal Brimingham (Registered charity number 1102803). During the year CCUK gave a £100 donation to Gilgal Birmingham. Stefanie Lakin is related party to trustee and director Simon Lakin through being a close family relative. Stefanie Lakin is an employee of CCUK and received a total remuneration of £9,081 (2023: £9,353) including employers national insurance and employers pension contribution.