Charity registration number 1184841
Company registration number 11063630 (England and Wales)
BELMONT EXETER
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
BELMONT EXETER
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
D Northcote-Passmore
C Naish
J Airdrie
Mr A Heron
J Luckham
P Phillips
H Stevens
P Winfield
C Hughes
S Richards
Charity number
1184841
Company number
11063630
Principal address
Belmont Chapel
Western Way
Exeter
Devon
EX1 2DB
Registered office
Belmont Chapel
Western Way
Exeter
Devon
EX1 2DB
Independent examiner
Mr A Hemmings BA (Hons) FCA CTA
Simpkins Edwards LLP
The Summit
Woodwater Park
Exeter
EX2 5WS
BELMONT EXETER
CONTENTS
Page
Trustees' report
1 - 6
Independent examiner's report
7
Statement of financial activities
8
Balance sheet
9
Notes to the financial statements
10 - 19
BELMONT EXETER
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

The trustees present their report and financial statements for the year ended 31 December 2024.

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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

The objectives of the charity as set out in the Memorandum and Articles are:

To advance the Christian faith in accordance with the statement of beliefs appearing in the schedule hereto in Exeter and in such other parts of the United Kingdom or the world as the directors of the charity (herein called "the trustees") may from time to time think fit and to fulfil such other purposes which are exclusively charitable according to the law of England and are connected with the charitable work of the charity.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

 

The following are an example of our activities which are open to all:

The church aims to share the good news of Christianity and to equip people to live out this good news in every area of life. We summarize this in our mission statement ‘Sharing the Story, Living the Life’.

We do this as we demonstrate the good news of the Christianity in our actions and activities, to provide opportunities for encounter with Christians, and to explore further the claims of Christianity.

We teach, train, equip and encourage those who are followers of the Lord Jesus Christ. We provide opportunities for people to develop and utilize their abilities, gifts and resources in the service of the Lord Jesus and his command to go to all peoples with his gospel.

We provide staff and facilities for the church to use to advance these objectives. The trust regularly reviews its staffing levels and plans, and when finances permit, to increase its activities and consider staff appointments in areas which require more time than is available from volunteer commitments. In 2024 we filled the vacancy for the Teaching and Discipleship role which had been vacant since April 2023.

Highlights of the year are listed below.

BELMONT EXETER
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -

Significant Activities during the Year

In January we had a church weekend away at Newquay, at which we were joined by Andrew Ollerton who shared some of his recent work in the book of Romans. This set the theme of whole-hearted worship from Romans 12.

The Acorn Alternative Provision centre opened in September 2024. Acorn AP is a separate charity running education provision for children on the verge of permanent exclusion from school. Belmont provides the space for the school to operate and also volunteer support to staff and students. There are currently between 4 and 6 students registered. The plan is to see this increase to 9.

On 1st Sept 2024, Steve Moody joined the staff and leadership team at Belmont in the role of Teaching and Discipleship Coordinator. Steve and his family moved from Stopsley Baptist Church in Luton.

Other ongoing activities

We have 25 local groups (Home Groups) which meet twice a month. These groups provide space for personal growth in Christian faith as well as care for each other through everyday circumstances. The group leaders have been supported by the Fellowship Team.

Our work amongst the older generations has continued to offer friendship through group activities and home visits to many who are not part of our regular Sunday congregation.

Achievements and performance

We continue to welcome many new people to the activities of the church. This includes students who are studying at the university and join us for the time they are studying. Our Sunday services are nearing capacity and a strategic priority for 2025 is to address this question operationally and strategically.

The staff employed (part or full time) in the year 2024 were:

Amy Davis as Family Support worker

Laura Farrar as Sung Worship Coordinator

Karen Fulls as Office Administrator                        

Jon Hancock as Youth Work Leader

Jenny Hudson as Students and Young Adults Team Leader

Clive Hughes* as Church Manager

Steve Moody* as Teaching and Discipleship Coordinator

Rachel Morris as Young Families Team Leader

Laura Rawson as Pastoral Care Coordinator            

Drew Rawson as Facilities Manager

Note: * = members of Leadership Team. The staff complement at the end of 2024 comprised 8.2FTE, head count 10.

All staff have supervision arrangements for day to day working, and can also access professional counselling supervision where this is relevant to the work undertaken.

Buildings - Health and Safety

 

The church buildings are all used extensively by church members and others. The trustees are pleased to report again that there have been no serious accidents during this year requiring reporting under RIDDOR.

 

The church is attended by several medical professionals as well as staff and key volunteers who, having received first aid training, are normally first call for any incidents.

 

The conditions of the premises are under constant review by the maintenance team and remedial work carried out as soon as is practicable.

BELMONT EXETER
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -

Buildings - Works

 

Belmont Exeter has the power to maintain the buildings. The original chapel buildings are freehold and held by Belmont Exeter. The additional facilities are leasehold.

 

As in previous years, volunteers from within the church have done work for the trust during the current year, although there have been fewer projects, there has been extensive work in good building maintenance whilst not in use. The trustees are very grateful for their help. The trustees are very appreciative of the major amount of time, effort and expertise contributed by the members in cleaning and maintaining the fabric and technical equipment in the building.

 

There is a rolling programme of maintenance to ensure the buildings are suitable for the ministry needs of the church. Larger developments are considered as part of the annual planning activity undertaken by the Ministry Teams and the Leadership Team

Financial review

The church is dependent upon the generous financial giving of individuals who attend. We are grateful for this faithful and sacrificial act of discipleship.

The Leadership Team and Trustees agreed to plan for a deficit in 2024 whilst also seeking to encourage the church members to review their giving so that we may be able to cover our everyday running costs. The church has continued to give generously through the year with some increase in regular giving and we ended the year with a deficit close to the plan. The coming year will need further increases in regular giving to maintain this level of expenditure. Staff, Ministry Leaders are also paying close attention to costs.

The finances are constantly under review so that appropriate action can be considered should there be any significant changes in income or expenditure. The aim of the church is to keep people informed with regard to financial needs through regular updates at the church meeting, appealing for increased giving when necessary. A budget has been submitted for 2025.

The buildings are provided primarily for use by the church and not as an investment for the trust. Where it is necessary to hold large sums of money, such as reserves for contingency and specific projects, the maximum balance in any financial organisation should not exceed £85,000.

The Trustees have adopted the following definition and policy definitions in respect of reserves.

"Reserves" are the resources of the trust that it has or can make available to spend for all or any of the trust's purposes once it has met its commitments and covered its other planned expenditure.

The Trust shall retain reserves to provide for 3 months contractual costs i.e. salaries and other contractual long-term commitments. Any surplus to this which is not part of planned income and expenditure is ‘free reserves’.

If there were a shortfall in the budgeted income then reserves could be used to cover this shortfall along with appropriate cutbacks to ensure that the expenditure did not run ahead of income, or there would be an appeal to the church to reconsider their level of giving, taken over the accounting period as a whole. If there were a surplus of income over budgeted income then the surplus would be used in providing further activities for the church, initiating ministry projects, or specific larger scale replacements or renewals or in any other way that was considered appropriate at the time. On 31 December 2024, the trust held £1,040,059 in general funds including Fixed Assets.

As at 31 December 2024 the cash reserves (i.e. these reserves not represented by fixed assets) of the charity stood at £249,066 and were split as follows:

Contingency (3 months salaries & contracts)            £71,500 [Estimated]

Free reserves                         £177,566 [Calculated]

BELMONT EXETER
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -

As part of our participation in the wider mission of the Christian church we make donations to others in support of their activity. Gifts are made to three main classes of recipients:

Firstly, to charitable organisations with objects similar to those of the trust; second to those individuals who are missionaries or retired missionaries from the church; and third to church members on short term missions at home or abroad to assist with their expenses. Exceptionally, other grants may be made to individuals in appropriate circumstances. Donations are considered at the beginning of each year by the church leadership team. The team recommend to the trustees the intended recipients and the amount of each grant, and the grants are thereafter made throughout the year. This policy is reconsidered annually.

The list of beneficiaries in 2024 is included in the notes to the financial accounts.

Child Protection

The safeguarding procedures have been working well during the year. The trust subscribes to ‘thirtyone:eight’, through which it processes DBS checks for all staff and volunteers working with young people and vulnerable adults. ‘thirtyone:eight’ are also a point of reference for child-protection issues and provide assistance and guidance for safeguarding policies. The procedures employed by the trust are considered appropriate and proportionate and are now generally accepted and have become part of the culture of the church. 'The Safeguarding Policy', is due for review/update in June 2025.

Data Protection

The trust is registered under the Data Protection Act 1998 number Z742023X. The trust and church database is now held within ‘Churchsuite’ and updated by authorised staff & volunteers. Individuals are able to gain access to check and update their own personal details through conventional IT channels, and also use its facilities to contact others who have given permission for their details to be held on the database.

Compliance

All the buildings owned and controlled by the trust are registered with the Registrar General. The registration numbers are for solemnisation of marriages: 31733 and under the Places of Worship Registration Act 1855: 65399.

The trust, which deals with the funds, is registered with the Charity Commission, and the accounts for last year (and the other documents required) were lodged with the Commission. Copies of the accounts and reports of the trustees and independent examiners are made available to church members and others on request. The accounts for the year under review have been independently examined. The present building trust does not need to be registered with the Commission because it is already registered under the 1855 Act.

The church has the necessary copyright licences to permit musical performance and the use of words and music related to songs, and the playing of recorded music and video images, and also the inclusion of this content in online service formats.

BELMONT EXETER
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -

Risks

The trustees have in respect of the year ending 31 December 2024:

(a) given consideration to the major risks to which the trust is exposed, and systems designed to mitigate those risks and;

(b) certified that the major risks to which the trust is exposed, as identified by the trustees, have been reviewed and that systems have been established to mitigate those risks.

The trustees recognise the following key risks to the ability of the church to continue to achieve its objectives.

Structure, governance and management

The name of the charity is Belmont Exeter.

The governing document is the Articles of Association dated 14th November 2017 as amended by Special Resolution dated 2nd June 2019. The charity is registered with the Charity Commissioners and the registration number is 1184841, and with Companies House, registration number 11063630. The trust uses three working titles: “Belmont Exeter”, "Belmont Chapel" and "Belmont".

 

The address of the principal office of the charity is Belmont Exeter, Belmont Chapel, Western Way, Exeter, Devon, EX1 2DB.

The bankers are CAF Bank and Lloyds Bank, and the independent examiner, Simpkins Edwards LLP, Chartered Accountants, Michael House, Castle Street, Exeter EX4 3LQ. Solicitors are appointed as required.

The trustees may invest in any investments authorised by law for trust funds, in respect of the redemption of loans or mortgages or the repair or maintenance of Belmont Chapel building. The trustees may also deposit money in building societies and trustee savings banks in the UK or any bank in England.

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:

 

D Northcote-Passmore
C Naish
J Airdrie
BELMONT EXETER
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
Mr A Heron
J Luckham
P Phillips
H Stevens
P Winfield
C Hughes
S Richards
S Flint
(Resigned 30 November 2024)

Treasurer: Clive Hughes (Church Manager), assisted by Val Symons (Finance Administrator)

Trustees are appointed in accordance with governing documents. In practice the serving trustees appoint new trustees by resolution at a meeting at which the quorum, for that purpose, is 6.

New trustees are invited to attend a meeting to meet the existing trustees and to discuss their appointment. The following documents are provided to assist in their new role as trustees:

a) The Charity Commission Publication "The Essential Trustee - What you Need to Know".

b) A copy of the Trust Deed.

c) A copy of the last financial statements.

d) A copy of the last minutes.

Conclusion

The trustees are pleased to report that the trust continues to meet its long-term objectives and has made progress in fulfilling its ministry objectives in 2024. The trustees are looking forward, if the Lord wills, to 2025 as we continue to serve our community and proclaim the good news of hope.

The trustees' report was approved by the Board of Trustees.

C Naish
Trustee
Dated: 8 June 2025
BELMONT EXETER
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF BELMONT EXETER
- 7 -

I report to the trustees on my examination of the financial statements of Belmont Exeter (the charity) for the year ended 31 December 2024.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants England and Wales, 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:

1

accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

2

the financial statements do not accord with those records; or

3

the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4

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 accounts 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.

Mr A Hemmings BA (Hons) FCA CTA
for and on behalf of Simpkins Edwards LLP
The Summit
Woodwater Park
Pynes Hill
Exeter
EX2 5WS
Dated: 26 June 2025
2025-06-26
2025-06-26
BELMONT EXETER
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
Unrestricted
Unrestricted
funds
funds
2024
2023
Notes
£
£
Income from:
Donations and legacies
2
423,424
390,081
Charitable activities
3
22,167
33,557
Other trading activities
4
1,804
1,480
Investments
5
5,329
2,418
Total income
452,724
427,536
Expenditure on:
Charitable activities
6
484,409
403,829
Other expenditure
9
27,662
24,351
Total expenditure
512,071
428,180
Net expenditure and movement in funds
(59,347)
(644)
Reconciliation of funds:
Fund balances at 1 January 2024
1,099,406
1,100,050
Fund balances at 31 December 2024
1,040,059
1,099,406

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

BELMONT EXETER
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 9 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
13
790,993
826,860
Current assets
Debtors
14
21,260
17,536
Cash at bank and in hand
241,825
268,085
263,085
285,621
Creditors: amounts falling due within one year
15
(14,019)
(13,075)
Net current assets
249,066
272,546
Total assets less current liabilities
1,040,059
1,099,406
The funds of the charity
Unrestricted funds
1,040,059
1,099,406
1,040,059
1,099,406

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Directors have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the trustees on 8 June 2025
C Naish
Trustee
Company registration number 11063630 (England and Wales)
BELMONT EXETER
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 10 -
1
Accounting policies
Charity information

Belmont Exeter is a public benefit entity and a registered charity in England and Wales, and is incorporated, being a company limited by guarantee. The address of the principal office is Chair of Trustees, Belmont Chapel, Western Way, Exeter, EX1 2DB.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "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)". The charity is a Public Benefit Entity as defined by FRS 102.

 

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity 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.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4
Income

All income is included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

 

 

 

 

 

BELMONT EXETER
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 11 -
1.5
Expenditure

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.

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates:

 

 

 

 

 

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
Over 50 and 15 years straight line
Plant and equipment
Over 3 and 5 years straight line
Lease
Over 125, 15 and 10 years straight line

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.

1.7
Cash and cash equivalents

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.

BELMONT EXETER
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 12 -
1.8
Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the charity's balance sheet when the charity 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

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

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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.9
Employee benefits

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 charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

BELMONT EXETER
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 13 -
2
Donations and legacies
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Donations and gifts
71,165
67,871
Legacies receivable
-
1,064

Gift Aid recoverable

71,544
66,179
Gift Aid donations
280,715
254,967
423,424
390,081
3
Income from charitable activities
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£

Third age

6,136
5,108

Special events

4,131
17,954

Youth work

1,603
917

Under eighteens

660
980

Young families

9,235
8,463

Fellowship Team

402
135
22,167
33,557
4
Other trading activities
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£

Income from buildings

1,804
1,480
BELMONT EXETER
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 14 -
5

Investments

Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Interest receivable
5,329
2,418
6
Charitable activities

Charitable Expenditure

Charitable Expenditure

2024
2023
£
£
Staff costs
237,774
208,213
Depreciation and impairment
54,753
51,912

Child protection

318
525

Sunday program

1,849
1,586
Recruitment
-
290

Missionary & other charitable gifts

200
400

Literature and resources

1,387
1,198

Care support and fellowship team

2,003
1,794

Training

963
1,581

Third age

6,019
5,517

Special events

24,407
4,451

Young adults

1,895
1,851

Publicity

-
259

Under eighteens

9,159
7,661

Young families

2,623
3,070
Electricity
11,176
7,334
Gas
8,407
4,882
Water
2,275
1,817
Insurance
7,424
6,393
Repairs and renewals
24,781
17,678
General running costs
10,321
859
Catering
2,189
2,729
Computer costs
2,747
2,620
Printing and stationery
1,390
1,854
Telephone
2,420
1,673
Copyright
1,981
2,133
418,461
340,280
Grant funding of activities (see note 7)
65,948
63,549
484,409
403,829
BELMONT EXETER
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 15 -
7
Grants payable

Charitable Expenditure

Charitable Expenditure

2024
2023
£
£
Grants to institutions:
European Christian Mission (Britain)
13,000
12,000
Evangelical Alliance
1,000
1,000
ECU
4,000
4,000
Exeter ICE Charitable Trust
5,000
5,000
Devon and Exeter Manna House Trust
650
650
Bernard's Acre
-
750
Devon Christian Youth Camps Trrust
650
650
City of Exeter YMCA
2,000
2,000
Echoes International
3,000
3,000
Rainbow Living SW
2,500
2,500
A Rocha UK
1,000
1,000
CTAX (Christians Together across Exeter)
600
600
King's House Children Centre
2,000
4,000
Tear Fund
2,000
2,000
Faith in Kids
1,000
1,000
Open Doors UK & Ireland
2,000
2,000
France Mission
2,500
2,500
Exeter Food Bank
250
250
South West Youth Ministries
2,000
1,000
Crossline Soup Kitchen
1,000
1,003
Friends International Ministries
6,000
6,086
Counties (formerly Counties Evangelistic Work)
1,000
1,000
Care For The Family
1,250
1,250
Devon United Missionary Offering
650
650
Asifunde Sonke
-
2,500
St James PCC Exeter
500
500
Just Love UK
1,000
1,000
Living Out
1,000
1,000
Welcome Churches
650
-
LICC (London Institute for Contemporary Christians)
1,250
-
59,450
61,389
Grants to individuals:
Grants to individuals for short term mission
2,802
2,160
Mercy Gifts
3,695
-
65,947
63,549
BELMONT EXETER
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
7
Grants payable
(Continued)
- 16 -
Collections and donations received from the congregation:
St Petrocks
150
150
Tear Fund
171
-
Exeter ICE Charitable Trust
150
150
Take off Pennies
94
88
Tear Fund Ukraine Humanitarian Appeal
-
645
Christmas Collection
1,556
-
Exeter Foodbank
-
10
Funerals
-
397
Paul Kingori Water Project
2,200
3,200
Refugee Support Devon
-
262
4,321
4,902

The above collections and donations have been made by members of the congregation with a view to the monies collected being passed onto the organisations concerned by Belmont Chapel.

8
Net movement in funds
2024
2023
£
£
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets
54,753
51,912
9

Other Expenditure

Unrestricted
Unrestricted
funds
funds
2024
2023
£
£

Wages and National Insurance costs

18,394
16,094

Staff pension

7,193
6,337
Independent examination
2,075
1,920
27,662
24,351
BELMONT EXETER
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 17 -
10
Trustees

One employee of the Charity was a Trustee during the year in order to provide an effective liaison between the Trustees and the Church Leadership Team.

 

The total remuneration is as follows:

 

 

Salary

ER Pension Contribution

Total 2024

Salary

ER Pension Contribution

Total 2023

Mr R C Hughes

£39,186

£1,219

£40,405

£36,143

£1,118

£37,261

 

No other Trustees, or any persons connected with them, received any remuneration or benefit from the Charitable Company during the year.

 

The only expenses reimbursed are for purchases made on behalf of the Charitable Company.

11
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
9
9
Employment costs
2024
2023
£
£
Wages and salaries
221,398
195,999
Social security costs
16,376
12,214
237,774
208,213

The charity contributes to a defined contribution pension on behalf of its staff.

There were no employees whose annual remuneration was more than £60,000.
12
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

BELMONT EXETER
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 18 -
13
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Lease
Total
£
£
£
£
Cost
At 1 January 2024
1,615,768
387,656
75,432
2,078,856
Additions
-
18,887
-
18,887
At 31 December 2024
1,615,768
406,543
75,432
2,097,743
Depreciation and impairment
At 1 January 2024
872,783
351,179
28,035
1,251,997
Depreciation charged in the year
32,787
18,855
3,111
54,753
At 31 December 2024
905,570
370,034
31,146
1,306,750
Carrying amount
At 31 December 2024
710,198
36,509
44,286
790,993
At 31 December 2023
742,986
36,477
47,397
826,860

There is no value recorded in these financial statements relating to the purchase of the original church buildings, known as the North Wing.

14
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
153
-
Other debtors
21,107
17,536
21,260
17,536
15
Creditors: amounts falling due within one year
2024
2023
£
£
Other taxation and social security
5,029
3,980
Trade creditors
51
2,753
Other creditors
4,543
2,872
Accruals and deferred income
4,396
3,470
14,019
13,075
BELMONT EXETER
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 19 -
16
Unrestricted funds

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.

At 1 January 2024
Incoming resources
Resources expended
At 31 December 2024
£
£
£
£
General funds
1,099,406
452,724
(512,071)
1,040,059
Previous year:
At 1 January 2023
Incoming resources
Resources expended
At 31 December 2023
£
£
£
£
General funds
1,100,050
427,536
(428,180)
1,099,406
17
Related party transactions

Transactions with trustees are disclosed in note 10 of these accounts. The other related party transaction in the year related to the trustees continued offerings towards the mission at Belmont Chapel. In the year ended 31 December 2024, these totalled £44,440 (2023: £22,810).

2024-12-312024-01-01falsefalseCCH SoftwareiXBRL Review & Tag 2025.29UnqualifiedThe members have not required the company to obtain an audit110636302024-01-012024-12-3111063630bus:Director12024-01-012024-12-3111063630bus:CompanySecretary12024-01-012024-12-3111063630bus:Director22024-01-012024-12-3111063630bus:Director32024-01-012024-12-3111063630bus:Director42024-01-012024-12-3111063630bus:Director52024-01-012024-12-3111063630bus:Director62024-01-012024-12-3111063630bus:Director72024-01-012024-12-3111063630bus:Director82024-01-012024-12-3111063630bus:Director92024-01-012024-12-3111063630bus:Director102024-01-012024-12-31110636302024-12-31110636302023-12-3111063630countries:UnitedKingdom2024-01-012024-12-3111063630countries:UnitedKingdom2023-01-012023-12-3111063630bus:FRS1022024-01-012024-12-3111063630char:IndependentExaminationCharity2024-01-012024-12-3111063630countries:UnitedKingdom2024-01-012024-12-3111063630bus:FullAccounts2024-01-012024-12-31xbrli:purexbrli:sharesiso4217:GBP