The trustees present their annual report and financial statements for the year ended 31 December 2024. January to September the church operated as Edge Church International, and from September transitioned to become part of the Equippers Church movement. The church name was officially changed to Equippers Church Bristol in December 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Church's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
The principal aims and objectives of the church, as set out in the Memorandum and Articles of Association (dated 31 December 2007 and revised 21 October 2015 and again 5 December 2024) is to advance the Christian faith, to relieve sickness and financial hardship, to promote and to preserve good health and to advance education.
The mission of the Church is to “Know Christ, Be the Church and Serve our Community with a message of hope, truth and love”.
The strategy to achieve these objectives is to take the truth of the message of Jesus Christ and the teaching of the Christian faith and communicate them in ways relevant to the culture of today.
When planning the activities of the Church the trustees have given due consideration to the Charity Commission’s published guidance on public benefit requirements. In particular, worship services, children’s and youth programs are held for people living in the local and the wider community. Pastoral care is provided for members of the church together with the local community.
During 2024 the church continued to grow with many new families joining the church. Attendance during 2024 has continued to increase. A decision was made during December to move to two services on a Sunday to accommodate the growth.
The Operations Lead has continued to focus on building an operations team made up of volunteer leaders to activate the vision across the campus. G3 Circles, now known as EGroups (small groups focussing on relationship and discipleship), have continued to be a focus area of the church with approximately 50% of active congregation being a part of an Egroup.
Key activities during the year include: preparation for a transition to become a part of the Equippers UK family. The transition took place in September 2024 with the changes to the official charity name and Articles completing in January 2025. A key focus of our kids’ team has been to continually build the team leaders to facilitate the growth in families joining the church and accessing the kids’ program on Sundays. 2024 has also seen a growth in our youth ministry and prayer ministry.
The work done in the church and community was made possible through the dedication and commitment of many individuals who offer their time and energy to serve. As more volunteers continue to be empowered, this core group of people continues to grow.
The close collaboration with the Edge Church International Ltd team in Australia has been a significant factor in the continued growth and fruitfulness of the Bristol location. With the transition to join the Equippers family, a new collaboration has begun and there is a sense of excitement as from September 2024 the church operates as part of the Equippers family.
Transitioning into Equippers has enabled a growing sense of purpose due to the preaching being in person and rather than streamed from Australia. This has led to a sense of belonging with close proximity to other UK Equippers locations.
During this financial year, the charity made a net surplus on unrestricted funds of £7,264, leaving a balance in hand of £2,360,225 on 31st December 2024. Overall, the Trustees are pleased with the results for 2024 and note the charity is in a healthy financial position.
In accordance with best practice, reserves have been set at a level equating to three months’ essential core operating costs. This currently equates to £69,500. Reserves at 31 December 2024 were £664,240.
The trustees have identified potential risks for the charity and have put in place measures to minimise these risks. Whilst risk management procedures continue to develop and improve, the charity has adopted and adapted structures and policies from the Australian entity. During the last four months of 2024 a considerable amount of work has been undertaken to ensure this continues on joining the Equippers movement. The key controls implemented by the charity include;
Regular board meetings with formal agenda and minutes
Comprehensive planning, budgeting, management reporting and accounting
Financial authorisation and delegation levels along with budget approval processes
Written policies and procedures
While it is recognised that systems and internal controls provide reasonable but not absolute assurance that major risks are managed appropriately, the trustees are satisfied that the major risks have been identified and mitigated where possible.
From September 2024 and moving forward the church will continue to operate as part of the Equippers Family. The Church will continue to grow and build a strong base and foundation adopting the Equippers beliefs and mission, in line with the existing Edge Church beliefs.
As Equippers we believe in equipping and empowering the whole church to be on mission for God. Whether you have been called to education, healthcare, media, business or family to an office, a field, a building site or a church. We want to champion you to extend the kingdom in your world.
The mission arm of the church (RED) funds are distributed amongst work with partners to support their objectives as well as developing in house mission initiatives to the local community.
Equippers Church Bristol is a company limited by guarantee and a registered charity and is affiliated with the Equippers family of Churches.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Trustees must demonstrate strong ethical values and a commitment to the church. Potential new trustees are nominated for appointment by a current trustee and then a vote is held of all trustees. If the current trustees agree the new trustee is approached and appointed.
Trustees are updated on developments regularly.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
Day-to-day management is vested in the leadership team led by the interim Campus Pastor, Andrew Shepherd (January to April 2024) and Peter Prothero (May to December 2024), and the Operations Lead, Kim Tovey.
The trustees have delegated aspects of decision making to the leadership team, whilst maintaining control over major strategic and financial decisions.
The report of the trustees has been prepared in accordance with the special provisions relating to companies subject to the small companies’ regime within part 15 of the Companies Act 2006.
The trustees' report was approved by the Board of Trustees.
The trustees, who are also the directors of Equippers Church Bristol for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Church and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Church will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Church and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
I report to the trustees on my examination of the financial statements of Equippers Church Bristol (the Church) for the year ended 31 December 2024.
Having satisfied myself that the financial statements of the Church are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the Church’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Since the Church’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the Church as required by section 386 of the Companies Act 2006.
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Equippers Church Bristol is a private company limited by guarantee incorporated in England and Wales. The registered office is 1160 Aztec West, Almondsbury, Bristol, BS32 4TF.
The financial statements have been prepared in accordance with the Church's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The Church is a Public Benefit Entity as defined by FRS 102.
The Church has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements are prepared in sterling, which is the functional currency of the Church. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties at fair value. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the trustees have a reasonable expectation that the Church has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Cash donations are recognised on receipt. Other donations are recognised once the Church has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Tangible fixed assets costing £500 or more are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
At each reporting end date, the Church reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
The Church has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Church's balance sheet when the Church becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the Church’s contractual obligations expire or are discharged or cancelled.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the Church is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
In the application of the Church’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Upon its association with the Equippers group of Churches, a review of the VAT accounting has resulted in overclaims at 31 December 2024 of £19,884. This is now the subject of negotiation with HMRC regarding related potential penalties and interest.
None of the trustees (or any persons connected with them) received any remuneration or benefits from the Church during the year.
The Trustees had £41 of book resources, and £418 of hospitality costs met by the Church.
The Church received aggregate donations from Trustees and Related Parties of £19,423 during the year.
The average monthly number of employees during the year was:
The remuneration of key management personnel was as follows:
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
Included in cost/valuation of Freehold Land & Buildings is freehold land of £600,000.
The freehold building at Aztec West Business Park was revalued at 31 December 2022 based on a valuation on 14 December 2022 by Andrew Forbes Chartered Surveyors, an independent valuer. The valuation is on a "Fair Value" basis in line with FRS102. The valuation is based upon the value per the original building purpose, and not as a Church or event centre.
The trustees have reviewed the book value of the Freehold Land & Buildings as at 31 December 2024 and have confirmed that he value is not materially different to fair value.
In 2015, HSBC issued a £1,100,000 loan with a term of 18 years and 6 months. The loan carries a fixed interest rate of 3.82% for the first 10 years. After this period, the interest rate will become variable, set at 1.9% per annum above the Bank of England Base Rate. The loan is secured by fixed charges over the charity's freehold property at 1160 Aztec West, Bristol.
The Church operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Church in an independently administered fund.
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
RED - This fund represents sponsorship funds for the RED mission initiative.
Transform Cambodia - This fund represents donations raised to support Edge Church Australia's mission work, Transform Cambodia.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
P Prothero, key management personnel, invoiced the Church £18,000 for consultancy, £26,654 for travel and accommodation, and £450 for phone allowance during the year.
Key management personnel had £876 of hospitality and subsistence, and £10,605 of travel and accommodation costs met by the Church.
The Church made Levy contributions of £2,155 to Acts Churches UK, a registered Charity with two common trustees, during the year.
The Church made payments to Equippers Church, a registered Charity with two common trustees, of £2,800 for guest speakers, and £7,320 for shared services during the year.