Registered number: 05278022
Charity number: 1109486
(A company limited by guarantee)
UNAUDITED
FOR THE YEAR ENDED 31 DECEMBER 2024
EXETER NETWORK CHURCH
(A company limited by guarantee)
CONTENTS
EXETER NETWORK CHURCH
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2024
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EXETER NETWORK CHURCH
(A company limited by guarantee)
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their annual report together with the financial statements of the Charitable Company for the 1 January 2024 to 31 December 2024. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Charitable Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
a. Objectives and Activities
Exeter Network Church (ENC) is a company and a charity which exists to promote the Christian faith and to alleviate suffering.
Since our public launch in 2005, and the commissioning of Rev Jon and Jo Soper in 2009 as leaders of the first Bishop’s Mission Order in the UK, our commitment has been to communicate the gospel of Jesus Christ, by proclamation and demonstration, through which lives and communities are transformed.
In 2024, ENC was home to an intergenerational community of around 250 adults (including approximately 75 students) and more than 40 children and young people. We remain committed to proclaiming and demonstrating the gospel of Jesus Christ in ways that bring real transformation to lives and communities.
When planning our activities, we take account of the Charity Commission’s guidance on public benefit and its specific guidance for charities for the advancement of religion. Our activities are publicised on our website www.enc.uk.net and outlined below.
Since our public launch in 2005, and the commissioning of Rev Jon and Jo Soper in 2009 as leaders of the first Bishop’s Mission Order in the UK, our commitment has been to communicate the gospel of Jesus Christ, by proclamation and demonstration, through which lives and communities are transformed.
In 2024, ENC was home to an intergenerational community of around 250 adults (including approximately 75 students) and more than 40 children and young people. We remain committed to proclaiming and demonstrating the gospel of Jesus Christ in ways that bring real transformation to lives and communities.
When planning our activities, we take account of the Charity Commission’s guidance on public benefit and its specific guidance for charities for the advancement of religion. Our activities are publicised on our website www.enc.uk.net and outlined below.
b. Vision and Values
As a church, we remain:
∙On Mission – carrying the hope of Jesus to every community.
∙In the Spirit – relying on God’s presence.
∙Under Scripture – standing firm on biblical truth.
We continue to value:
∙High participation – every member playing their part.
∙Joyful celebration – stories of lives transformed.
∙Expectancy – trusting God to intervene in everyday life.
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EXETER NETWORK CHURCH
(A company limited by guarantee)
(continued)
c. Structure, Management and Governance
The church leaders are supported in their role by a senior staff of three others.
Members of the charitable company guarantee to contribute an amount not exceeding £1 to the assets of the charitable company in the event of winding up. The total number of such guarantees at 31 December 2024 was 24. Company members are responsible for appointing trustees normally around the annual general meeting.
Whilst retaining its legal autonomy as a registered charity and a Company limited by guarantee employing the Church Leaders, on 2nd November 2009 the Company resolved to adopt the terms of a Bishop's Mission Order (BMO) lasting for the duration of five years and to change the Objects of the Company to bring them into line with those of an Anglican Church. At the same time, the opportunity was taken to approve the replacement of the Company's Articles of Association with the more modern form of Articles in terms set out in the new Companies Act 2006 with appropriate adaption.
The BMO makes the Church Leaders accountable to the Bishop of Exeter and provides for a Bishop's 'Visitor' (in 2019 the Bishop of Crediton was appointed as Visitor) to provide a communication 'bridge 'between the Bishop of Exeter and Exeter Network Church.
In 2014 the BMO was renewed for a further five years, and then in 2019 the BMO status was made
permanent after an extensive review by the Bishop of Crediton and her team.
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EXETER NETWORK CHURCH
(A company limited by guarantee)
(continued)
d. Achievement and performance
2024 was a year of increased engagement in our Networks—small, mission-focused communities living out our vision in practical ways.
These networks engaged in:
∙Sharing faith and inviting people into relationship with Jesus.
∙Bible study and discipleship.
∙Community-building activities like sports and dinner parties to engage those more on the fringes.
∙Supporting vulnerable groups, including refugees and the marginalised.
∙Offering debt support and financial freedom to the general public through CAP initiatives.
∙Monthly worship and prayer ministry in Exeter Prison.
∙Student and youth engagement, with strong communities among 75+ students and 35 youth.
∙Family-focused outreach group engaging parents and carers of toddlers and their children.
Public worship
Our worship gatherings in 2024 continued to welcome people of all ages and spiritual backgrounds. They remain characterised by high participation, dynamic worship, and the intentional development of new leaders.
The average Sunday attendance was 173, with peak gatherings of over 290. Services were held weekly at 4:00pm and 6:30pm at Providence Chapel, Northernhay Street—our home since late 2023, providing a more comfortable and accessible worship environment.
Special highlights in 2024 included:
Our worship gatherings in 2024 continued to welcome people of all ages and spiritual backgrounds. They remain characterised by high participation, dynamic worship, and the intentional development of new leaders.
The average Sunday attendance was 173, with peak gatherings of over 290. Services were held weekly at 4:00pm and 6:30pm at Providence Chapel, Northernhay Street—our home since late 2023, providing a more comfortable and accessible worship environment.
Special highlights in 2024 included:
∙Two SuperSundays of community celebration outdoors.
∙ENCside Cornwall Weekend Away with around 245 attendees.
∙The Announcing of New Leaders Rev Bob and Tabi Wallington to take on leadership of ENC in May 2025.
∙Summer Sunday breakfasts hosted in homes and gardens.
∙Christmas outreach across Exeter.
Pastoral work
Pastoral care remained central in 2024. Our pastoral team provided spiritual counsel, prayer ministry, and practical help to individuals and families.
Financial and practical support was distributed to those experiencing hardship. We also celebrated baptisms, blessed marriages, and walked with families through funerals, offering comfort and hope in Christ.
Looking Ahead to 2025
Pastoral care remained central in 2024. Our pastoral team provided spiritual counsel, prayer ministry, and practical help to individuals and families.
Financial and practical support was distributed to those experiencing hardship. We also celebrated baptisms, blessed marriages, and walked with families through funerals, offering comfort and hope in Christ.
Looking Ahead to 2025
2024 was a year of growth, joy, and deepening faith. We saw God’s hand at work in countless lives and communities. As we step into 2025, we do so with renewed vision:
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EXETER NETWORK CHURCH
(A company limited by guarantee)
(continued)
∙To lead the community through a stable and joyful change of leadership, celebrating Rev Jon and Jo Soper’s ministry and installing Rev Bob and Tabi Wallington as the new leaders of ENC.
∙To strengthen further our Safeguarding policies and practices, and explore new relevant trauma informed training opportunities for the church.
∙To strengthen our student and youth ministries.
∙To continue creative outreach that meets the city of Exeter with the love of Jesus.
∙To remain a place of worship, discipleship, and transformation—on earth as in heaven.
The Trustees give thanks to God for His faithfulness in 2024 and look forward with expectation for what He will do in the coming year.
e. Reserves Policy
At this level, the day to day financial obligations of the church are met through faith and the legal requirements should the charity cease will be met. This amount comes to £60,000. At the year-end unrestricted reserves totalled £107,108.
The trustees feel the charity can continue to meet its ongoing financial requirements.
f. Investment Policy
g. Giving Policy
The church's policy is to give away 10% of undesignated income in furtherance of the Christian faith and the relief of poverty and hardship. This year ENC was able to give a total £48,120 (2023: £44,723) which were gifts to external individuals and institutions.
In 2024, ENC gave monthly donations to organisations such as TeaFund, Climate Stewards, Christians Against Poverty, Exeter Foodbank, CAP, Every Nation Ministries, Exeter Diocese, ICE Trust, IJM, St. Boniface Whipton, Sat-7 Trust limited, Tutela Africa, Carrie, Open Doors, New Wine and YWAM Sandels. ENC supports partners who promote the Christian faith and alleviate suffering which are local (Exeter), UK-wide and international.
In 2024, ENC gave monthly donations to organisations such as TeaFund, Climate Stewards, Christians Against Poverty, Exeter Foodbank, CAP, Every Nation Ministries, Exeter Diocese, ICE Trust, IJM, St. Boniface Whipton, Sat-7 Trust limited, Tutela Africa, Carrie, Open Doors, New Wine and YWAM Sandels. ENC supports partners who promote the Christian faith and alleviate suffering which are local (Exeter), UK-wide and international.
h. Risk Review
The trustees have conducted their own review of the major risks to which the charity is exposed and systems have been established to mitigate those risks. Internal financial risks are managed by the implementation of financial procedures for the collection, banking and recording of all donations and the authorisation and recording of all expenditure.
In 2024 the church had a Safeguarding policy and Safeguarding officer - Jonny Wakely alongside a designated safeguarding Trustee - Andrew Hingston. The church also has formal policies for Health and Safety, and Data Protection.
In 2024 the church had a Safeguarding policy and Safeguarding officer - Jonny Wakely alongside a designated safeguarding Trustee - Andrew Hingston. The church also has formal policies for Health and Safety, and Data Protection.
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EXETER NETWORK CHURCH
(A company limited by guarantee)
(continued)
i. Financial Review
The deficit for the year was £5,237 (2023: surplus £74,477). Transfers from unrestricted funds to restricted funds totalled £Nil (2023: £Nil). Reserves at the end of the year amounted to £158,754 (2023: £163,991) of which £107,108 (2023: £111,963) were unrestricted. The unrestricted funds include a designated fund of £19,809 (2023: £19,809) towards future church plants.
Statement of Trustees' responsibilities
Approved by order of the members of the board of Trustees on 26 September 2025 and signed on their behalf by:
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EXETER NETWORK CHURCH
(A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
I report to the charity Trustees on my examination of the accounts of the Charitable Company for the year ended 31 December 2024.
As the Trustees of the Charitable Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Charitable Company 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 Charitable Company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
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EXETER NETWORK CHURCH
(A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Since the Charitable Company'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 ICAEW, 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:
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 accounts to be reached.
This report is made solely to the Charitable Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charitable Company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charitable Company and the Charitable Company's Trustees as a body, for my work or for this report.
Signed: Dated: 29 September 2025
Laura WaycottFCA
Griffin
Chartered Accountants
Courtenay House
Pynes Hill
Exeter
EX2 5AZ
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EXETER NETWORK CHURCH
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2024
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EXETER NETWORK CHURCH
(A company limited by guarantee)
REGISTERED NUMBER: 05278022
BALANCE SHEET
AS AT 31 DECEMBER 2024
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EXETER NETWORK CHURCH
(A company limited by guarantee)
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the Trustees on 26 September 2025 and signed on their behalf by:
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EXETER NETWORK CHURCH
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Exeter Network Church is a registered charity domiciled in England and Wales. Its registered office address is 22 Southernhay West, Exeter, EX1 1PR.
2.Accounting policies
The Trustees assess whether the use of going concern is appropriate i.e. whether any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The Trustees make this assessment in respect of a period of at least 12 months from the date of authorisation for issue of the financial statements. They have concluded that the charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the charity's ability to continue as a going concern, thus they will continue to adopt the going concern basis of accounting in preparing the financial statements.
All income is recognised once the Charitable Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
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EXETER NETWORK CHURCH
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charitable Company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following bases:
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EXETER NETWORK CHURCH
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
The Charitable Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charitable Company to the fund in respect of the year.
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EXETER NETWORK CHURCH
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions:
There are no critical accounting estimates or assumptions.
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EXETER NETWORK CHURCH
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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EXETER NETWORK CHURCH
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
7.Analysis of grants (continued)
Any grants made to institutions below £1,000 have been inlcuded as total of "other grants to institutions" and consist of the following institutions: Friends International, Fusion, GoFundMe, Just Love, Linking Lives, St Michael's, and Stewardship.
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EXETER NETWORK CHURCH
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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EXETER NETWORK CHURCH
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
9.Analysis of expenditure by activities (continued)
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EXETER NETWORK CHURCH
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
9.Analysis of expenditure by activities (continued)
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EXETER NETWORK CHURCH
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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EXETER NETWORK CHURCH
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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EXETER NETWORK CHURCH
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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EXETER NETWORK CHURCH
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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EXETER NETWORK CHURCH
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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EXETER NETWORK CHURCH
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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EXETER NETWORK CHURCH
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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EXETER NETWORK CHURCH
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Exeter Network Church participates in the Pension Builder Scheme section of CWPF for lay staff. The Scheme is administered by the Church of England Pensions Board, which holds the assets of the schemes separately from those of the Employer and the other participating employers.
The Church Workers Pension Fund has a section known as the Defined Benefits Scheme, a deferred annuity section known as Pension Builder Classic and a cash balance section known as Pension Builder 2014.
Pension Builder Scheme
The Pension Builder Scheme of the Church Workers Pension Fund is made up of two sections, Pension Builder Classic and Pension Builder 2014, both of which are classed as defined benefit schemes.
Pension Builder Classic provides a pension for members for payment from retirement, accumulated from contributions paid and converted into a deferred annuity during employment based on terms set and reviewed by the Church of England Pensions Board from time to time. Bonuses may also be declared, depending upon the investment returns and other factors.
Pension Builder 2014 is a cash balance scheme that provides a lump sum that members use to provide benefits at retirement. Pension contributions are recorded in an account for each member. This account may have bonuses added by the Board before retirement. The bonuses depend on investment experience and other factors. There is no requirement for the Board to grant any bonuses. The account, plus any bonuses declared, is payable from members’ Normal Pension Age.
There is no sub-division of assets between employers in each section of the Pension Builder Scheme.
The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This is because it is not possible to attribute the Pension Builder Scheme’s assets and liabilities to specific employers and that contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SoFA in the year are contributions paid £16,259 (2023: £16,506).
A valuation of the Pension Builder Scheme is carried out once every five years. The most recent was carried out as at 31 December 2019.
For the Pension Builder Classic section, the valuation revealed a deficit of £4.8m on the ongoing assumptions used. At the most recent annual review, the Board chose not to grant a discretionary bonus, which will have acted to improve the funding position. There is no requirement for deficit payments at the current time.
For the Pension Builder 2014 section, the valuation revealed a surplus of £5.5m on the ongoing assumptions used. There is no requirement for deficit payments at the current time.
The legal structure of the scheme is such that if another employer fails, Exeter Network Church could become responsible for paying a share of that employer’s pension liabilities.
The Church Workers Pension Fund has a section known as the Defined Benefits Scheme, a deferred annuity section known as Pension Builder Classic and a cash balance section known as Pension Builder 2014.
Pension Builder Scheme
The Pension Builder Scheme of the Church Workers Pension Fund is made up of two sections, Pension Builder Classic and Pension Builder 2014, both of which are classed as defined benefit schemes.
Pension Builder Classic provides a pension for members for payment from retirement, accumulated from contributions paid and converted into a deferred annuity during employment based on terms set and reviewed by the Church of England Pensions Board from time to time. Bonuses may also be declared, depending upon the investment returns and other factors.
Pension Builder 2014 is a cash balance scheme that provides a lump sum that members use to provide benefits at retirement. Pension contributions are recorded in an account for each member. This account may have bonuses added by the Board before retirement. The bonuses depend on investment experience and other factors. There is no requirement for the Board to grant any bonuses. The account, plus any bonuses declared, is payable from members’ Normal Pension Age.
There is no sub-division of assets between employers in each section of the Pension Builder Scheme.
The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This is because it is not possible to attribute the Pension Builder Scheme’s assets and liabilities to specific employers and that contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SoFA in the year are contributions paid £16,259 (2023: £16,506).
A valuation of the Pension Builder Scheme is carried out once every five years. The most recent was carried out as at 31 December 2019.
For the Pension Builder Classic section, the valuation revealed a deficit of £4.8m on the ongoing assumptions used. At the most recent annual review, the Board chose not to grant a discretionary bonus, which will have acted to improve the funding position. There is no requirement for deficit payments at the current time.
For the Pension Builder 2014 section, the valuation revealed a surplus of £5.5m on the ongoing assumptions used. There is no requirement for deficit payments at the current time.
The legal structure of the scheme is such that if another employer fails, Exeter Network Church could become responsible for paying a share of that employer’s pension liabilities.
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EXETER NETWORK CHURCH
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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